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Electr ic Ra il w a y
S
E
C
T
I O
N
OF THE
C ommercial & y mAWCur^HROHiclE.
Copyrighted In 1918 according to Act of Congreas.by W ILLIAM B .D A N A COM PAN Y. In office of Librarian of Congress. Washington. D .C
Vol. 107.
N E W Y O R K , SEPTEM B ER 28, 1918.
E lbctric
R ailw ay
S ection.
T h e E le c tr ic R a ilw a y Section, Issued three times a year. In January,
M a y and Septem ber, Is furnished without extra charge to every annual
subscriber o f the C om m ercia l & F in a n cia l C h r o n ic le .
T he R a ilw a y a n d In d u s tria l Section. Issues three times a year on the
last Saturday o f February, June and O ctober, Is also furnished without
extra charge to every annual C h r o n ic le subscriber.
T he Uall w ay E arn in g s Section, issued m onthly, containing the sworn
returns o f earnings and expenses filed each m onth with the Inter-State
Com m erce Comm ission, Is likewise furnished without extra charge to every
annual C h r o n ic le subscriber.
T ho S ta te a n d C ity Section, Issued semi-annually on the last Saturday
o f M a y and N ovem ber, L also furnished vAthout extra charge to every
s
annual subscriber o f the C h r o n ic le .
Tho B an k a n d Q u o ta t io n Section, Issued m onthly, is also furnished
without extra charge to every annual subscriber o f tho C h r o n ic le .
T ho B a n k ers ’ C o n v e n tio n Section, issued yearly, giving tho detailed
proceedings o f tho annual convention o f the American Bankers’ Associa
tion, ls likowise furnished without extra charge to C h r o n ic le subscribers.
Terms for the C h r o n ic le , Including tho six supplem ents above nam ed,
aro Ton Dollars per annum within the United States, Thirteen Dollars
(which includes postage) In E urope, and $11.50 in C anada.
Fife covers for the C h r o n ic le are sold at 80 cents each (which includes
postage). File covers for Supplements can be had a t same price.
C H IC A G O O F F IC E .— 39 South La Salle Street.
L O N D O N O F F IC E .— Edwards & Smith, 1 Drapers’ Gardens, E . O.
W IL L IA M
B. D AN A C O M P A N Y , P u b lish e rs,
Front, Pine and Depoyster Streets, N ew Y ork .
e x p l a n a t io n s
of
terms
tio n s
and
USED.
a b b r e v ia
'
The following is an explanation of the terms and
abbreviations used on succeeding pages in the pre
sentation of the statements of the different com
No. 2779
T A X E X E M P T IO N .— W here there is a provision in bond or m ortgage
which would seem to make the Interest free from the Federal Income tax,
wo indicate the fact in black-faced letters— t f , meaning tax-free. The
Federal A ct approved O ct. 3 1917 provides, how ever, that only one normal
2 % incom e tax shall be deducted at the source and that all further Federal
incom e taxes shall be met b y the recipient o f the incom e. See terms o f A ct
in V. 105, p. 1373. W here there is no tax covenant we insert the letters
n t f, moaning not tax-free, t f f means free from normal Federal incom e
tax up to 4 % . W here we have n o knowledge other than that the com pany
has assumod or ls paying the tax, we Insert the letters c p t , which means
that company pays tax, at least fo r the present
Until the courts have passed
both upon tho various features o f tho tax and the effect o f the several tax
clauses in tho bonds and m ortgages, it is impossible to give m ore definite
inform ation.
“ D A T E .” — T h e date o f issue on the face o f the bonds is indicated
under the word "D a le."
“ I N T E R E S T ."— Under this heading ls given the rate per cent yearly
o f the interest payable on the bonds or (if guaranteed) o f the dividend
payable on the stock: also the m onths when the interest or dividend is
payable; thus “ 6 J-J” means 6 % per annum payable January and July;
correspondingly “ F -A ” is used to mean February and August; " M -S "
means M arch and September, and so on; while “ Q-J” means quarterly
beginning in January, and “ Q -F " quarterly beginning in February. (The
day when the interest paym ent is due can generally be determined b y
noticing when the loans m ature, the day o f tho m onth there given being
in m ost cases the same as for one o f the interest dates.) “ S .-a .” means
semi-annual.
" R O A D .” — T he word “ tra ck " moans in street railway parlance all
tracks, whether main line, siding, switch or second track. “ Rails are
80-lb. girder” means that each rail weighs 80 pounds to the yard, " k .w .”
moans kilowatts and " h .p .” means horsepower, “ k .v .a ." means kilo-voltamperes. “ P -A -Y -E cars" means pay-as-you-enter or prepaym ent cars.
“ E xts., add'ns and im pts.” means extensions, additions and im prove
ments
"A u th .” means authority or authorized. “ Oth. in c.” means
other incom e. “ Cal. year” means calendar year.
R E F E R E N C E S T O "C H R O N IC L E .” — This supplement is expressly
intended for use in connection with the Investment nows and official reports
published from week to week in the "C h ron icle.” Frequent reference is
therefore m ade to the volum e and page o f tho “ C hronicle" (as V . 107, p .
000), where fuller inform ation m ay be found. Following also each state
ment is given a reference to the latest news item in the "C hronicle” re
specting the com pany. As every such item contains a reference to the
last preceding item , the reader can run back at pleasure. A nnual reports
are in black-faced figures.
.
panies:
“ S T O C K A N D B O N D S .” — Under those words aro shown—
"Stock ” __ The am ount o f stock authorized Immediately follows tho word
“ stock ’ ’ and against this is the par value o f single shares. For examplo,
"S to ck $‘>00 000 ($100),’ ’ means stock, total Issue authorized b y charter
or b y A ct o f Legislature. $200,000, divided into shares o f $100 each; “ f. p ."
following tho am ount given as outstanding means “ full p a id ."
"P ro f ” means "preferred stock .” “ Pref. 6 % cu m .” moans proferrod
stock entitled to dividends o f 6 % per annum, such dividends If not paid
accum ulating, all dividends due and unpaid to bo paid in full for each
and every year before tho com m on stock receives anything. "P re f. 6 %
now-cum.” means sim ply that tho stock is ontitlcd to 0 % per annum if
earned b u t that if unearned in any year tho dividond for that year will
not be paid subsequently. " D i v ." means dividond. T h o last dividond
paid is shown under tho colum n headed "M a tu rity."
"Bonds.” — " M o r t.,” "m tg e .” or “ M . " means m ortgage. “ C onsol.” or
"c o n M . ” means consolidated m ortgago. "G e n . M .” means general
m ortgago. “ lief. M .” means refunding m ortgago. "C o ll, t r ." means
collateral trust. T h o amount next following is the total authorized
amount that can bo Issued under the m ortgage. Tho denominations in
which tho bonds are issued usually follow in paronthosos. T ho word
" g o ld ” is usually spelled ou t. b ut in some instances is contracted to " g .,”
while " c u r ." means currency.
“ C o n v .” means convertible into stock. ” S. f . ” means sinking fund,
“ c ” moans coupon; " c * ” means coupon b ut m ay bo registered as to prin
cipal' " r ” means fully registered (no coupons); " r * ” means registered,
convertible into coupon bonds; “ c*& r*” moans registerablo in either form
and convertible from registered to coupon or the reverse; and "c*& r” means
that registered certificates without coupons as well as cou pon bonds aro
outstanding. The letters " p .m ." mean per mile, so $15,000 p.m . means
that the issue o f bonds is restricted to $15,000 for each m ile o f track.
••Guar." means guaranteed, and "guar. p . & i. (end .)’ ’ moans guaranteed
is -o principal and interest,’ the guaranty being endorsed on each bond.
“ K ed .” means redeemable. "T ru s .” or " t r .” means trustee o f the m ort
gage.
M APS APPEARING I N
THIS ISSUE.
For the purpose of showing in a graphic way the
location of their lines, a few of the more important
systems described in this issue of the “ Electric Rail
way Section” are accompanied by maps. The fol
lowing furnishes a list of these maps, together with
the pages on which they appear.
L IST OF M APS.
Page.
Brooklyn Rapid Transit System--------------------------------- 14
Cumberland County Power & Light Co---------------------105
Detroit United Railway System---------------------------- --- 38
Georgia Light, Power & Railways-------- - - - - ------------- 64
Illinois Traction System---------------------------20
New Orleans Railway & Light Co---------------------------- 76
New York Municipal Railway Corporation------------------ 15
New York State Railways------------------------------------------113
Pacific Gas & Electric Co---------------------------------116
Public Service Corporation of New Jersey.......... 80 and 81
United Gas & Electric Corporation..................................... 84
Uni tod Light & Railways Co-------------- -------- - .............. 48
Electric R ailways.
S E C U R IT IE S
AND
REPORTS
e«k to week, tho investor will have all the information he needs m seeking a safe and remunerative lodgment for his monoy^
A full Index showing where eaoh company will be found is given in the olosing pages of the book.
A K R O N , O H IO .
fJORTHERN OHIO ELECTRIC: CORPORATION.— A holding co.
NeRbor Issue is subject to call. The C anton-N ow Phila
delphia bonds may bo called as a whole at 105 and Int. on 3 m os.' notice.
J n m eTu^OI,^ .2 ? < ,c t - 8 191® ar*d owns over 9 0 % o f the com m on
2
A°Light C o ^ ortbern Dhlo T ra c. A L t. C o. Also controls the Kent Water
•nSioA’ nnn ^ Z A T I O N .— 75,000 shares o f com m on stock (no par va lu e)
fn c cum . pref. stock (par $100): prer. as to assets and d lvs.;
we"e begun M a r" I u R il
payabIe Q - M * Dividends on pref. stock.
H odenpyl. Hardy A C o ., In c., N . Y .. and E . W . Clark & C o Phila
u? “ ierw
Wh0s.0 dlrect 's upervision and management the properties are oper»*•& brought out the $6,000,000 pref. stoSk In O ct. 1016 on the b L S s o f
10 shares o f pref and 5 shares com m on stock for $1,000
E A R N IN G S .— O f constituent com panies for calendar years,„ Y e « r—
Gross
Expenses
Net
Charges
Murnlus
.................S6.469.035
$4,024,275 $2,444,760 $1,522^,919 $921^841
• 4 9 1 6 - - - - - — 5,236,399
2,701,036 2,535,363
1,414,270 1,121,093
Latest Earnings.— Seven m onths ended July 31'
'
.................$4,100,334
$2,642,169 $1,458,165
$998,
$459,661
1917- - - -------- 3,692.538
2,248,903
1,443,635
862 /1 9
580,916
— V . 104, p. 362, 664, 1703; V . 106, p . 396, 1127: V . 107, p . 501.
N o r th e r n O h io T r a c t io n & L ig h t C o.
?tock ,s owned b y the Northern Ohio E lectric Corp.
nhin m r°^ i^ r1r>
COrp»; n ° b ° i n Dec,\ 1902 M successor to the
i
° bl,° fra ctio n C o. having exchanged its securities for the com
m on and pref. stock o f the latter per terms In V . 75, p. 733. In 1906
acquired control o f the Canton-Akron Consol. R y ., and guarantees that
com pany s $2,o00,000 consol. 5s, prln. and Int. V . 83 D 435 849
A ls o
®?iiE°l(Pa PltaJ st0<jk o f ^ o n Wadsworth & Western T rac. C o. and
L
K a n g ? l i M arch A
Dt’ Comm 0n 8tock llsted oa N . Y . Stock
aPd n? wer Properties are operated under
£ 8peCifnol o f f 8 t o d l' rati°,n - Gity railway franchises expire
as follows Akron. 1924: C anton, 1928: M assillon, 1932. 55% o f the Inter?,rbaV r?,Cka/ e ,sv.?n Pr' vate right-of-w ay or subject to franchises without
to 1931 t; franchises for remaining Interurban mileage expire from 1919
. ° o V 01, l ? I.915 the Ohio Supreme C ourt hold that the franchise granted
h f e 5 teiPer Kd. by the Stark C ounty Corom lsslonefs In 1892 (cover/
!?iL abo.ut 4 ^ F ' 1. between Canton and Massillon outside the city limits)
was not perpetual as claimed by the com pany— see V . M l . p. 1371
The
com pany appealed to the U- 8 Supreme C ourt, and on Jan 28 1918 a de
cision In its favor was rendered, V. 106, p. 608.
1 ° Oct 1917 renewed ror 5 years a contract for lighting city o f Akron.
?i sto.nno.noo1"
W & 'T i s m T
p
' te'' **°ck ™
p »t^ r w {fhrfhServ»TiInn Ctt -1 17 fl’ed a new schedule o f Interurban passenger
^
If.tcs with the Ohio P. IT. Com m ission, raising the rates generally to 2c. a
J f ■ 105. p. 998. In Sept. 1918 was autli. b y the Ohio P. U . C om m .
confHcted interurban fares to 2 H cents per mile where n o local franchises
P^e r 8
,V?c!t. wa? lssued ,n 1911 “ ni1 dividends o f 1 * % quar.
tlnn S 9 ^ y n.Wdhi Dividends on com . were begun In 1906 by the tfeclaraP
tlon o f 2 % . payable m quar. Installments o f 4 % from June 15 1906.
X ;.? ’„
t ln
wa8 a^al« declared, payable ln quar. ini K S ? ^ 9 ’om -luuo lo 1907. In 1908. Juno. Vi % ; Sept., Vi% -D e c tf %
n 1909. 1 H % . In 1 9 1 0 ,2 1 4 % . In 1911 3 u <v
j n jqi.S 4 u w a
{ 9] 3 to 1916, 5% per annum
In 1917, M arch, U * % : M a y, 1 t i %T°Aug.
th l
I’^'fticaH y all o f the com m on stock being owned b y
the Northern Oliio E lectric C orp ., dividends are no longer reported.
.,,p k A N T .— f l o e a stjn ds from Cleveland thPiugn Akr-jn. Cautou. M a«hri°m-ha£ J ^ oW blladelphla to Uhricbsvllle In Tuscarawas C ounty with
2< t
S
renn\ V , J ' ent|' to Wa<l*w .rih , via Barberton) and to
Bast Greenville from M assillon. On D ec. 31 1917 operated 246 51 miles o f
Cleveland ° o » m
U“ p °r i,tr!}Ck!A!l0 rlgllW »"u rd in g an en trln ce h rtif
n!,®vf„ and' « , wns Lakeside Park In Akron and Meyers Lake Park in
Canton
Also owns 1,011 acres o f coal land In Noble C ounty. Ralls'1
b»°n«?iw
^ andaf d gauei0- . 84 Interurban. 265 city and 37 mlscel^ar i i Does the exclaslve commercial electric light and power
AkrP n Bnd supplies energy, directly or Indirectly, to 9 other
o f ^ ^ R 7 ^ r L .3 ,S eneratin?. stations with an aggregate Installed capacity
?L® 2.875 Ic.w., 17 sub-stations. An additional 20.000 k.w . turbine was
expected to bo placed In operation O ct. 1 1918. A 4-story office building
and passenger torminal in Akron was opened M a y 1 1918.
®
/-v w i?F ?R T ,—^ or caIendar years (1917 report in V. 100, p. 2117):
° Yea r
0 r,
/nleresl. P r e f. D i v .1 o m .D iv . Balance.
C
, . “ ar—
Jt.a^r\ln9.s - Earnings. Taxes, &c (6 % ).
(5 % ). Survlus
} 2 } I .............. *^-^89,609 $2,161,938 $981,860 $290,196 $477,752 $41 ^ 1 29
1916 t ............ 5 ,1 /0 ,4 4 2
2,272.604 887,661 271.106
450,000 663,837
~ v:
t e
w sW
e^
ALBANY, N. Y.
UNITED TRACTION COMPANY.
V sT d6 15°52k ^038 2 Pn 4 lfinare’^
“ wn. ed b y The Delaware A H udson C o.
■ , •p 150 . T he D . A n . also owns the entire stock o f the
T roy A New England RH. and the Plattsburg Traction C o. and a half
Interest ln the Schenectady R y .. the Now York State Rys. owning other half.
O R G A N iZ A T IO N .-C h a r te r e d D ec. 30 1899 as a consolidation o f the
b> bi
C
»har mrod '£ , S52 L tbe W atervllet Turnpike A R R . (chartered
ia n n 62v
the,X royr»C ,ty R y ’ (g a rte re d In 1850). 9 00 V. 69. p. 1147.
7t
l"cr0“ A (Go hoes bT>°Pi>rat<? uJ?der, ,Gasea t0 theRconstituent com panies.
“
ohn rRy
R R I.anslngburgh A Cohoes R ., Waterford A Cohoes
R R ., Cohoes R y. and the ( ’ apitol R y. Owns 97% o f tho stock o f the
Hudson Valley R y -. 71% o f the W aterford A Cohoes R R ., 8 0% o f the
w Sys’ivjyss.'sga!
of ,he c “p'“ ' R co6°“ it?'
!r"
by
madf l^ioio’anVfoi^ V^fos^p.’2456b°nd8 at Par* t0 pay f°r ,m
pti,:
STOCK AND BONDS—
D a te .
Interest. Outstanding. M aturity.
Stock com . $ 1 0 .0 0 0 .0 0 0 (1 1 0 0 )____
-----See text
See text
P ref $10,000 0 0 0 ($ 1 0 0 )6 % cu m im S
____
.
$5,204,400 Sept l8 . 1 H
1st lien & ref mtge. g. ($100, 1916
5 g P -A
4 143,000 Aug 11956
$500, $1,000, * c . ) .c * f t r * .
,J n t. payaole In N . Y . or Cleveland.
Northern Ohio Trac, mort 1899 5 g J - J
2.995,000 July 11919
g . $3,000,000 ($ l,0 0 0 )c* _ tf Interest at Central Trust C o .. N .Y . Trustee
mZaCttJ leP< ? a v ‘ & Trust C o ., Cleveland*
''
N orthern Ohio Traction A 1003 4 * fig J-J
3.220.000 Jan 1 1933
Light 1st consol ($1,000). !n t. at C4t. Sav. A T r. C o .. C leve.. Trustee
gold $ 7 ,5 0 0 .0 0 0 ..
nr at First N a t. B ank. New York.
Ak Wads- A West mni-tRage, 1906
6«
See text July 1 1933
$500,000 guar ($1.000) _tf
Secured serial b inds $1,450. 19!7 7 g J-D
1,450.000
See text
000 bds. ($1,000) gold___c* Guaranty Trust C o ., N ew Y ork, Trustee.
wmohC « o o o fonne £ 0m F10n stock, $9,000,100 is outstanding, in addition to
*
which $999,900 has been subscribed for but not yet Issued. The pref?J™d ?tock Is redeemable, all or part, at 110 and div. on any d lv. date after
# ? ^ .y ,9i6%.I9rper4l'>t? ^ yp.Tld a 8 ^
9
ia S etS
^ fu/v°t,ng P er°W
for refunding oracquiring*®
bemtis^
for g£%
cRst
construction, additions, betterments and extensions and
(c) for 85% o f cost or replacement value o f additional properties under
conservative restrictions. The bonds are secured by mortgage on entire
Pi°$££tnnrtSU ! ect» tf! underlying liens, and by deposit o f $4,000 o f 5s and
£
$1,276,000 o f 4s o f N or. Ohio Trac. A Lt. bonds o f 1933, $1.243 000 CantonAkron consol 5s o f 1933. $200,000 Akron W ads. A W « t . 5s $5 000 N or
D hloTraC t- 1st fis o f 1919, $5,000 Canton-Akron 1st 5s or 1922, $ 10 000 Can
ton-M ass lion 1st 6s o f 1920. Redeemable as a whole, or In part, on any Int
date at JOo and Interest. The mtge. provides for a maintenance and
depreciation fund o f 20% o f gross earnings for malnt. and replacements,
or for additions and betterments, against which no bonds may be Issued’
also provides for an Insurance reserve for damage claims A cf. o f 4% o f
gross earnings unti $100,000 is reached, at which figure the Bind Is to be
maintained. Trustees are New York Trust C o .. N. Y .. and Citizens Savs
f T rust <?.-•.C leveland. V . 103. p. 1210. The Northern Ohio T rac. fis o f
1899 were listed on the Phila. Stock Exch. In Oct. 1901. O f the $7 500 000
Wnrfh6
^ L t. consols. $3,000,000 are reserved to retire’ the
**<
rphi'
b °»nini>T $996,000 are 5s. all outstanding: the rest 4s
r>
serial bonds o f 1917 are secured by deposit o f $2,244,000 1st Lien A
? eL Mt|,e 6% bonds. As the bonds are paid off. 1st Lien A Ref. M tge
b o “ d 8 n ,a y be withdrawn to not over 133 1-3% o f the retired bonds. They
B f°L'?^V,nk91& 325,000: 1920. $50,000: 1921. $100 000
Si
1922 to 1925, Incl., $150,000: 1926 to 1928, incl., $225,000. R ed all or
In part upon 30 days’ notice at 101 and Int. V . 105. p 2456
i r StSfkh, l.ders aPProved action of directors In providing
w
pany^s Worlds6" 1 ° f Federa lncom e tax upon the various issues o f the com RTnnu
,
“ ,Bo"
" a°
ib”
J rfla ! l ^oreew ents . ^ - 11as trafric agreements with the Albany Southern
R R ., Schenectady R y. and Hudson Valley R y. by which cars o f the firstnamed road are run Into Albany from Rensselaer, cars o f the Schenectady
i f " i?ito Albany T roy and \ atervllet. and cars o f the Hudson Valley l iy
R
\
Into T roy from W aterford and in Albany.
y a /e y u y .
Electric power Is furnished under contract b y Adirondack El Pow. C orp.
Strike— Settlement— Wages.— Tn June 1918 a strike o f the co .'s em ployees
m™nterm / ft*?? b y G o v t. Intervention, the men com prom ising on a wage
increase o f 6 )4 cents per hour. V. 106, p. 2451: V. 107, p. 503.
8
, , i n Aug. 1918 was auth. by tho N . Y . P. S. C om m , to Increase fares In
A lbany, T ro y , Rensselaer and other places from 5 to 6 cents and to 12
cents for som e o f the longer rides. See V. 107, p. 697.
ST O C K A N D B O N D S—
D a te.
Interest. Outstanding.
M aturity.
Stock (par $1001. *12.500.000^ _
_
4 J-J
$12,500,000
See text
*L 2oO ,00° . go ld / 1901
4 *4 g M -N '
LfiOiOOO M ay f f t t l #
($ 1,0 00 ).
r n t f l l n t . at National Commercial Bank. Albany
° . »8 m m '' * 6 -500 000- KObJllOO-t
i
414 g J-D
2,620.000 Juno 1 2 0 &
a l i * ' * 0 0 0 ).. .
. c * t f [ l n t at Centra Trust ( 'o . , V Y Trustee
A lbW
n
c„P,9 M <**00 000 ( 1890
5 g J-J
428.000 Jan 1 1936
A
i K
f e - M
» 7 & S !S ■ ? & ,-
s& - 8 ;
W f f v l i e Y TuraVlke A R R — |11889 * C
6°M -N TFU8t 350!000 M a y V lf lT o
>8* M guar ................n t f (B oston Safe Don. A T r. C o .. Trustee.
6 M -N
150.000 M ay 1 1910
2d M . p A Int guar------ n t f / 1*90
_
„
1 M etropolitan Trust C o
N Y Trustee
0011 M * « o ld .) 1892
5 g A-O
2.000 000 Oct 1*1942
$2.000.000----------------- c* A r[In t. paid by Trustee. Central Trust C o. N Y
i.J ??n d w T < r t,b,eCOn;< 1- m
t
^
,tge- o f ,9 °-<- $ 3 .880.000 Is reserved to retire prior
Hens. N o sk. fd and bonds are n<>t suhj. to call
Directors may fix m te of
Int. on unissued bonds but not exceeding 0 % ; present Issue Is at L 14% T ho
debs, may be called on any Int. date on 3 mos 'n o t ic e at "a 5% hit rate for
the unoxplred term as calculated in standard Int. tables.” V 73
!?>
«nT.h n n n bany R y ' ^ n e ra l mortgage of 1897 was for *750.000 o f which
7 a% if MiryetLt but consolidation made reservation Inoperative.
The T roy C ity leaded roads Include T roy A Cohoes, stock $50 000 dlvs
7 <der t h T w Ti L r
w
LarlsliIKr U 4 c^ h o e s stock. $15,000: dlvs under i«Lse.’
Ii?
umler ^ ase ^ a^€r^°rt* ^ C ohoes R H . $25,000 stock receives 7 % yearly
D I V ID E N D S .— First quar. d lv ., 1 H % . was paid M ay 1 1900: same rate
continued up to and Incl July 1905. For year 1906 6 & % was paid. On
D ec 31 1906 stock was Increased from $5,000,000 to $12,500,000 and dlvs
ma,d S ^ orn^l-annuai (J-J) and 2% paid July l 1907 2%> Jan 1 1008
and 2 % each six months thereafter to and Inch Jan. 1915. None since.
R O A D .— Operates 62 82 miles o f first main line track, o f which 48 98
m ™ «re^ n ed ’ and ,opGra‘ G ,n aP 112.15 miles o f track, o f which 93 84
S
C O N S O L ID A T E D R A IL W A Y .
D a tf-
interest. Outstanding.
M a tu r ity
Consol M $2,500,000 g o ld ,! 1906 5 g J-J
$867 OOO Jan 1 iQ-m
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ELECTRIC RAILWAYS
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V 82 d . 751.
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a n d G r e e n w ic h f t J o h n s o n v il lo R y . . b y w h ic h c a r s o f t h e H u d s o n V a lle y
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(o ) A ll t h e s t o c k o f t h e L e h ig h N a v ig a t io n E le c t r ic C o . (fo r m e r ly c o n
t r o ll e d b y t h e L e h ig h C o a l & N a v i g a t i o n C o . , w h ic h s e e In V . 1 0 5 . p . 7 2 0 ) .
a n d t h r o u g h s u c h a c q u is it io n c o n t r o l o f th e H a r w o o d E le c t r ic C o . a n d o t h e r
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V a l l e y L i g h t St P o w e r C o . ; ( c ) a p p r o x i m a t e l y a l l t h e p r e f . a n d c o m . s t o c k s
o f c o m p a n ie s fo r m e r ly c o n tr o lle d b y th e N o r th e r n C e n tr a l C o .
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t r o lle d c o m p a n ie s s u p p ly e le c t r ic lig h t a n d p o w e r t o 31 c itie s a n d to w n s ;
g a s s e r v i c e t o 13 c i t i e s a n d t o w n s , a n d h a v e c h a r t e r r ig h t s In 7 0 t o w n s h i p s ;
17 t o w n s h ip s a r e s e r v e d b y I n t e r u r b a n r a il w a y s .
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o f c o n t r o l o f th is c o . b y t h e L e h ig h P o w e r S e c u r it ie s C o . , t h e m o r t g a g e o f
t h e L e h ig h N a v ig a t io n E le c t r ic C o . w a s c lo s e d , t h e L e h ig h C o a l & N a v i
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1913.
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H a r w o o d E le c t r ic C o .—
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w e ll t o W a r r o n s b u r g .
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1 st & R e f M ($ 1 0 ,0 0 0 ,0 0 0 )1 1 9 1 2
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m a in lin e a t M e c h a n lc v ill e . p r o v id e s a lin e f r o m T r o y t o R o u n d L a k e ,
c a l l a b l e a t 1 0 7 ) 4 .................. / i n t e r e s t a t G i r a r d T r u s t C o . . P h i l a d e l p h i a .
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S t r o u d s b u r g E l L f t P 1 s t M ..................
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S c h u y l k i l l G a s & E l I s t M --------------------6 A -O
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1 1929
o t h e r f r o m 'T h o m s o n t o G r e e n w i c h .
T o t a l f i r s t t r a c k . 1 1 6 .0 9 m ile s ; s e c o n d
I s t M c a l l a b l e a t 1 0 0 _______ ( I n t . a t H a z l e t o n ( P a . ) N a t i o n a l B a n k .
tra ck
1 2 - 0 1 m . ; s i d i n g s , 8 . 6 1 m . ; m a k i n g a t o t a l o f 1 3 6 .7 1 m i l e s o f t r a c k ,
L e h ig h V a lle y T r a n s i t G r o u p — S e e L e h ig h V a ll e y T r a n s i t C o . b e l o w .
o f w h ic h 1 2 4 -2 4 m ile s a r e o w n e d .
R a ll s , T , g i r d e r a n d g r o o v e d , 4 8 t o 141
V o t in g T r u s t e e s f o r S to c k .— I r v in g W , B o n b r i g h t . B o n b r lg h t & C o . , I n c . ;
lb s .
S ta n d a r d g a u g e ; 7 0 % o n p r iv a t e r ig h t o f w a y .
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G e o r g e II. F r a z ie r , B r o w n B r o s . & C o .; S . Z . M it c h e l l, P re s. E le c . B o n d &
c a r s . 8 f r e i g h t c a r s , 11 s e r v i c e c a r s , 8 s n o w p l o w s , 2 e l e c t r i c l o c o m o t i v e s a n d
S h a r e C o . ; L e w is E . P ie r s o n . C h a ir m a n o f B d . o r I r v in g N a t . B a n k , N . Y . ;
9 oxp ross ca rs.
C o m p a n y o w n s K a y d e ro ss P a rk , a t S a ra to g a L a k e , an d
S . D . W a r r ln e r , P r e s . L e h ig h C o a l & N a v . C o . ; G . M . D a h l. V .- P . C h a s e
O n d a w a P a r k , b e tw e e n G r e e n w ic h a n d T h o m s o n .
N a t . B a n k , N . Y . ; A le x a n d e r J . H e m p h ill, C h a ir m a n G u a r a n t y T r . C o . ,
O F F I C E R S .— S a m e a s fo r U n ite d T r a c t io n C o .— V . 8 9 , p . 2 8 6 .
N . Y . ; T h o m a s N e w h a ll, E d w . B . S m ith & C o .; D a n ie l E . P o m e r o y , V .- P .
B a n k e r s T r u s t C o . . N . Y . , a n d W illia m W e s t , H e n r y & W e s t . P h ila .
A L B A N Y S O U T H E R N R R . — T h i r d r a i l , e x c e p t in c i t i e s . ____
O R G A N I Z A T I O N . — I n c o r p o r a t e d In N o w Y o r k S e p t . 14 1 9 0 9 a n d Is a
N o t e s .— O v e r $ 1 8 ,0 0 0 ,0 0 0 n o t e s h a v e b e e n s u b s c r ib e d f o r .
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S e p t . 8 1 9 0 9 ( p e r p la n V . 8 9 . p . 2 2 3 ) .
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c a lle d b y t h o c o . o n w r it t e n n o t ic e o f a t le a s t 20 d a y s , t h e s u b s e q u e n t in
G r e e n b u s h B r id g e C o .
V . 89. p. 720.
F r a n c h is e s a r e p e r p e t u a l.
D oes a
s t a llm e n t s t o b o a t le a s t 3 0 d a y s a p a r t , a n d n o o n e o f s a id in s t a llm e n t s t o
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b e fo r m o r e th a n 1 0 % o f th e a m o u n t s u b s c r ib e d .
S u b scrib e rs h a v e th e
r ig h t t o a n t ic ip a t e a ll o r a n y p a r t o f t h e ir s u b s c r ip t io n s a t a n y t im e .
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J u n o 1 9 1 8 w a s a u t h . b y t h o N . Y . P . S . C o m m , t o Issu e $ 2 ,1 5 1 ,0 0 0
r e s u l t o f c a l l s f o r p a y m e n t a n d o f p a y m e n t s in a n t i c i p a t i o n o f f u t u r e c a l l s
1 s t R e f . M . 3 0 - y e a r 6 % b o n d s , $ 1 ,4 5 1 ,0 0 0 t o b o u s e d t o e x c h a n g e a lik e
t h e a m o u n t o f n o te s o u t s t a n d in g a s o f M a y 31 1 9 1 8 w a s $ 1 5 ,4 4 3 ,1 0 0 .
The
a m o u n t o f i s t M . 5 % b o n d s n o w o u t s t a n d i n g a n d $ 7 0 0 ,0 0 0 6 % b o n d s t o
E le c t r i c B o n d & S h a r e C o . w ill d e liv e r t o e a c h s u b s c r ib e r 4 s h a r e s o f t h e
b o p l e d g e d a s s e c u r i t y f o r $ 5 5 0 , 0 0 0 3 - y e a r n o t e s t o b o s o l d a t n o t le s s t h a n
S e c u r itie s C o r p . s t o c k w it h e a c h S I .0 0 0 o f n o t e s w h e n s u b s c r ip t io n s h a v e
9 6 a n d th o p r o c e e d s u s e d t o r e im b u r s e th e t r e a s u r y , t o d is c h a r g e flo a t in g
b e e n p a id In fu ll.
T h e s t o c k m a y b e d e p o s i t e d in a v o t i n g t r u s t .
d e b t ' o u ts ta n d in g o n J u n e 30 1917 a n d fo r p r o p o s e d n ow c o n s tr u ctio n
T h e c o lla t e r a l fo r th e n o te s in c lu d e s (a ) th e e n tir e c a p it a l s t o c k o f th e
w o r k a m o u n t in g t o $ 1 9 0 ,6 8 3 . V . 1 0 6 , p . 2 4 4 9 .
L e h ig h N a v ig a t io n E le c t r ic C o .; (6 ) a s u b s t a n t ia l m a jo r it y o f t h e s t o c k o f
t h e L e h ig h V a ll e y T r a n s i t C o . ; (e ) t h e b u l k o f t h e o u t s t a n d i n g s t o c k is s u e s
S T O C K A N D B O N D S -—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
o f t h e N o r t h e r n C e n t r a l G a s C o . , C o l u m b i a St M o n t o u r E l e c t r i c C o . , a n d
C o m m o n $ 1 , 3 7 5 , 0 0 0 ( $ 1 0 0 ) ...............................................
* 1 .3 7 5 .0 0 0
N o r t h u m b e r l a n d C o G a s St E l e c . C o . , a s s h o w n in V
105. p. 8 1 8 .
I t is
P r e f $ 2 , 1 0 0 , 0 0 0 5 % n - c ( $ 1 0 0 ) -------F -A
2 . 0 2 9 A, U K.
e x p e c t e d t h a t t h e c o r p o r a t i o n f r o m t i m e t o t i m e w i l l s e ll p a r t o f t h e s e c u r i t i e s
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d e p o s ite d u n d e r s u c h tru s t a g r e e m e n t, th e p r o c e e d s t o b e u se d fo r th e p u r
g o ld ($ 1 ,0 0 0 ) . .
c * t f 'B a n k e r s T r u s t C o . , N e w Y o r k
T ru stee
c h a s e , r e d e m p t io n a n d c a n c e lla t io n o f th e n o t e s , b y p u r c h a s e a t t h e lo w e s t
F ir s t R e f M t g o $ 3 ,0 0 0 .0 0 0 1 1 9 1 8
6 g M -S
S ee te x t
M a r 1 1948
p r ic e , o r a t 1 0 1 % a n d ln t ., b y lo t .
N o t e s a r e r e d ., a ll o r p a r t , o n a n y I n t .
g o l d ( $ 1 , 0 0 0 ) __________________ J E m p i r o T r u s t C o . , N o w Y o r k , T r u s t e e .
d a t e a t 101 a n d l n t . P e n n s y lv a n ia 4 m ills t a x r e f u n d e d . V . 1 0 5 , p . 8 1 8 . 4 9 8 .
T h r e e -y e a r
n otes,
$ 5 5 0 ,0 0 0 ) 1 9 1 8
7 g M -S
5 5 0 ,0 0 0 M a r 1 J 9 2
g o l d ' ( $ 1 , 0 0 0 ) ________ _________ / B r o o k l y n T r u s t C o . , N e w Y o r k , T r u s t e e .
E A R N I N G S ..— O f c o m b in e d p r o p e r t ie s f o r 12 m o s . e n d e d A p r il 3 0 1 9 1 8
B o n d s . — R e c o r d i n g t a x p a i d , m a k i n g t h e m t a x - e x e m p t i n N eu> Y o r k .
S in k
( I n t e r - g r o u p c h a r g e s e l i m i n a t e d ) ; G r a s s f r o m o p e r . , $ 7 ,2 7 0 ,9 0 8 ; o t h e r In
fu n d o f 1 U % o f b o n d s a u th o r iz e d fr o m 19 1 7 t o 1 9 2 1 : 1 9 2 2 t o 1 9 2 8 , 2 %
c o m e , $ 2 1 9 ,0 2 6 ; t o t a l . $ 7 ,4 8 9 ,9 3 4 ; o p e r . e x p ., t a x e s , m a i n t .. & d e p l e t io n
1929 to 1938, 3 % .
$ 4 9 , 0 0 0 In s i n k , f u n d S e p t . 1 1 9 1 8 .
C a lla b le a s a
c h a r g e s , $ 4 ,0 1 5 ,9 0 5 ; n e t , $ 2 ,8 7 4 ,0 2 9 ; d e p r e c . a ll o w a n c e . $ 2 8 4 ,1 3 5 : ln t . a n d
w h o le a t 106 a n d in t. o n a n y I n t. d a y .
V . 8 9 , p . 1140.
„
d is c ., $ 1 ,5 3 5 ,4 1 9 : b a la n c e , $ 1 ,0 5 4 ,4 7 5 .
P r o p o r tio n
o f e a r n in g s , in c l .
D I V I D E N D S . — I n it ia l s e m i-a n n u a l d l v . o n p r e f . , 1 ) 4 % . p a id F e b . 1
in t e r e s t , a c c r u in g t o L e h ig h P o w e r S e c u r itie s C o r p . o n t h e b a s is o f s e c u r it ie s
1911.
A u g .. J 4 % 1 n o n e s in c e .
ow n ed Ju n o 1 1918.
,
R E P O R T .— F o r y e a r e n d in g D e c . 3 1 :
.
_ ,
P r o p e r l y , A c . — G e n e r a t in g p la n t s h a v e a p r e s e n t c a p a c i t y o f 9 ; .2 9 7 k . w .
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In terest,
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4 3 2 m ile s h l g h - v o l t a g o t r a n s m is s i o n lin e s ( o v e r 6 ,6 0 0 v o l t s ) ; g a s h o l d e r
E a r n in g s .
T a x es ).
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Y e a r ___
c a p a c i t y , 1 ,1 1 6 ,5 0 0 c u . f t . ; 1 4 6 m ile s g a s m a in s ; 2 1 7 m ile s s t r e e t a n d I n t e r
in ly
$ 5 7 4 ,6 5 5
$ 1 2 9 ,3 7 8
$ 1 0 1 ,5 9 6
$ 2 7 ,7 8 2
u r b a n r a ilw a y lin e s .
1 9 1 6 .....................
5 2 9 .8 1 4
1 4 2 ,5 2 4
9 9 ,5 9 5
4 2 .9 2 9
M a n a g e m e n t . — T h e c o m p a n y Is u n d e r t h e m a n a g e m e n t o f t h e E l e c t r i c
1 9 1 / ,.....................
5 1 1 .2 1 6
1 4 9 .8 4 9
9 1 .3 5 5
5 8 .4 9 4
B o n d & S h a re C o .— V . 1 0 5 , p . 2 3 6 5 ; V . 1 0 6 , p . 6 1 1 ; V . 1 0 7 , p . 4 0 2 .
R O A D . — O p e r a t e d t iy t h i r d - r a i l s y s t e m f r o m A l b a n y v i a R e n s s e l a e r t o
H u dson .
C o m p r is e s 3 7 m ile s o f m a in lin e a n d 9 m ile s o f s id in g s , w it h 2
L e h ig h V a lle y T r a n s it C o .—
...
_
. . .
C o n tr o l.— In J u ly 1917 t h e L e h ig h P o w e r S e c u r it ie s C o r p . , w h ic h s e e
a d d i t i o n a l m i l e s o f o v e r h e a d t r o l l e y r o a d In H u d s o n .
T o t a l . 61 m ile s o f
a b o v o , a c q u i r e d a s u b s t a n t i a l m a j o r i t y o f b o t h c la s s e s o f t h is c o m p a n y 's
tra ck .
In F o b . 190 0 m a d e c o n t r a c t g iv in g it p r iv ile g e t o e n te r A lb a n y o v e r
s t o c k o n t h e b a s is o f $ 2 8 p e r s h a r e o f c o m . a n d $ 4 8 p e r s h a r e o f p r e L s t o c k .
t h e t r a c k s o f t h e U n ite d T r a c t io n o f A lb a n y .
D o u b le -tr a c k in g o f ro a d b e
t w e e n R e n s s e l a e r a n d K l n d e r h o o k L a k e c o m p l e t e d In 1 9 1 0 .
O p e r a t e s 19
V . 105. p . 606.
p a s s e n g o r c a r s , 6 fr e ig h t a n d 2 e x p r e s s c a r s . 2 o x p r o s s tr a ile r s , 2 s n o w -p lo w s
O R G A N I Z A T I O N . — I n c o r p . In P a . o n N o v . 3 1 9 0 5 a n d Is a r e o r g a n i z a
a n d 2 o lo c tr ic lo c o m o t iv e s .
R a lls 7 0 a n d 8 0 - l b . s t e e l ; s t a n d a r d g a u g o .
tio n u n d e r fo r e c lo s u r e o f th e L e h ig h V a lle y T r a c tio n C o . , t h e P h ila d e l
A ls o o w n s t h e h ig h w a y t o ll b r id g e o v e r H u d s o n R iv e r a t A lb a n y a n d a la r g o
p h i a & L e h i g h V a l l e y T r a c t i o n C o . , t h e A l l e n t o w n St S l a t i n g t o n a n d t h e
a m u se m e n t, p a rk a t K ln d e r h o o k L a k e .
O F F I C E R S . — P r e s ., W illia m L o e b J r .; V . - P . , R ic h a r d S u t r o ; S e c . a n d
T reas.
I r v i n W . D a y V . - P . a n d G e n . M g r . , J a m e s E . H o w e s . — V . 1 0 .1
p . 575: V . 105, p . 714; V . 106, p . 2449; V . 107, p . 80
Im p . m tg e . o f 1 9 10: r e c o n s tru c tio n o f M o n t . T r a c . c o m p le t e d D e c . 12 1 9 1 2 .
c u t t in g d o w n r u n n in g t im e b e t w e e n A lle n t o w n a n d P h ila d e lp h ia ( C it y H a ll)
f r o m 4 u; t o 2 )4 h o u r s .
A n 8 - m l l e c u t - o f f o n t h i s d i v i s i o n w a s c o m p l e t e d In
ALB IA, IO W A .
1914 a n d th e r u n n in g tim e b e tw e e n A lle n t o w n a n d 6 9 th S t . T e r m in a l.
P h i l a d e l p h i a , Is n o w 1 h o u r a n d 6 8 m i n u t e s .
A L B IA L IG H T & R A IL W A Y C O .
T
,
it
In A p r il 1 9 1 3 p u r c h a s e d c o n t r o l l i n g I n t e r e s t In s t o c k o f E a s t o n C o n s o l i
O R G A N I Z A T I O N — I n c o r p In D e l a w a r e J u n e 1 9 1 6 a s a r e o r g a n i z a t i o n
d a t e d E le c t r i c C o . (V . 9 6 . p . 1 0 2 2 ).
O n J u n e 2 0 19 1 3 s h a r e h o ld e r s a u t h o r
o f t h e S o u t h e r n I o w a R . & L i g h t C o . a s p e r p l a n In V . 1 0 3 . n 9 3 9 .
D oes
iz e d a n Issu e o f c o lla t e r a l n o t e s t o p a y fo r t h e p u r c h a s e .
V 96. p
1489.
th e ilg iit. h e a t , p o w e r , r a ilw a y a n d g a s b u s in e s s o f A lh la , H o c k in g , H ite
1772.
A l s o h a s h a l f I n t e r e s t In N o r r i s t o w n T r a n s i t C o . Franchises p e r p e t .
m a n a n d c o m m u n i t y , s e r v in g a p o p u l a t i o n o f 1 2 ,0 0 0 .
A ls o s u p p lie s p o w e r
O n D e c . 31 1 9 1 5 p u r c h a s e d t h e fr a n c h is e s a n d p r o p e r t y o f th e Q u a k e r f o r t h o o p e r a t i o n o f 12 m ile s o f t h o C o n t r e v i l l o & A lb l a R y . C o .
N ow pow er
to w n T r a c . C o . (fo r m e r ly le a s e d ) fo r th e s u m o f $1 a n d th e c o n c e lla t lo n o f
u n i t s a n d 2 2 m i l e s o f t r a n s m i s s i o n l i n e s w e r e p l a c e d In o p e r a t i o n M a r c h 1 5
I ts I n d e b t e d n e s s , a l l o f w h i c h w a s o w n e d b y t h e L e h i g h V a i l T r a n s i t C o .
1 9 1 8 , w ith c o n t r a c t s t o fu r n is h p o w e r f o r 4 la r g o c o a l m in e s .
F ra n c h is e s
U n d e r a g r e e m e n t m a d e In J u l y 1 9 0 7 t h e L e h i g h V a l l e y T r a n s i t h a s It*
e x p l r o in 1 9 4 2 .
P h i l a d e l p h i a t e r m i n a l In t h e P h i l a d e l p h i a R a p i d T r a n s i t s t a t i o n a t C h e s t n u t
STO CK AN D BO N D S—
D a te .
In te r e s t.
O u ts ta n d in g .
M a tu rity
H ill.
V . 8 6 . P- 9 9 .
L a t e In 1 9 1 2 m a d e a c o n t r a c t f o r e x p r e s s s e r v i c e w i t h
C o i n s t o c k 5 4 0 0 . 0 0 0 1$ 1 0 0 ) ...............................................
^ 4 ^ 9 ,9 °V
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A d a m s E xpress C o .
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P f 6 % u o n - c u m $ 1 0 0 . 0 0 0 ( $ 1 0 ) ..............
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1 0 0 .0 ' 0
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a n d P h ila d e lp h ia
1 s t M $ 5 0 0 ,0 0 1 ; g o l d ( $ 1 , 0 0 0 / 1 9 1 6
5 g J -J
3 5 0 ,0 0 0
1941
L i g h t a n d P o w e r .— I n M a r c h 1 9 1 3 t h o L e h i g h V a l l e y L i g h t & P o w e r
a n i l $ 1 0 0 ) ....................c a t r . c p t i I n t . a t E m p i r e T r u s t C o . N
V .. tru stee
C o . w a s o r g a n i z e d a s a c o n s o l i d a t i o n o f t h o A l l e n t o w n E l e c t r i c L i g h t St
B o n d s .— O f t h o b o n d s r e p o r t e d o u t s t a n d i n g , $ 1 0 0 ,0 0 0 w e r e Iss u e d t o c o v e r
P o w e r C o . a n d n u m e r o u s s m a l l e r c o m p a n i e s , a ll p r e v i o u s l y o w n e d b y
n o w e x te n s io n s .
R e m a in in g b o n d s a re fo r e x te n s io n s a n d a d d it io n s .
No
th e T r a n s it C o m p a n y .
S to ck
a u t h o r iz e d , $ 8 5 0 ,0 0 0
(p a r $ 1 0 0 ): o u t
s in k in g fu n d a n d n o t s u b je c t t o c a ll .
, , _
s t a n d i n g , $ 1 9 1 ,1 0 0 . a ll o w n e d b y t h e T r a n s i t C o .
D o e s e n tir e lig h t in g
D i v i d e n d s .— Q u a r t e r l y d l v s . o f 1 )4 % o n p r e f . s t o c k w e r o p a i d f r o m A u g
a n d p o w e r b u s i n e s s In A l l e n t o w n . B e t h l e h e m . S o u t h B e t h l e h e m . S l a t i n g
1 1 9 1 7 t o a n d I n c l. M a y 1 9 1 8 .
N o n e s in c e .
t o n , O a t a s a u q u a , E m a u s a n d a d j a c e n t t e r r i t o r y ; p o w e r is a l s o w h o l e s a l e d
E A R N I N G S .— Y e a r e n d in g
D e c . 31 1 9 1 7 . g r o s s . $ 8 3 ,3 9 7 ; n e t , a ft o r
t o M a c u n g lo a n d t o s e v e r a l m u n ic ip a lit ie s a lo n g th e T r a n s it C o . ’s lin e .
t a x e s , $ 2 8 ,6 5 0 : I n te r e s t o n b o n d s , $ 1 5 ,0 0 0 : s u r p lu s . $ 1 3 6 5 0
I n c lu d in g C o o p e r s b u r g . S e lle r s v J lle . S o u d e r t o n a n d
N o rth
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In
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Aug
19 1 3 t h o c o m p a n y c lo s e d a c o n t r a c t t o s u p p ly e le c t r ic it y t o th e P h il
a n d H lte m a n .
6 0 a n d 7 0 - lb . T r a il; s t a n d a r d g a u g e .
a d e l p h i a S u b u r b a n G a s ft E l e c . C o . , a s u b s i d i a r y o f t h e A m e r . G a s C o .
O F F K E R S — P ros.
A lb e r t L . F o w le ; V .- P . , M e r le R . W a lk e r ; S e c
V . 97. p. 621.
A ls o h a s n u m e r o u s m u n ic ip a l s tr e e t-lig h tin g c o n t r a c t s .
M . A . D a y . a ll o f 61 B r o a d w a y , N . Y . C i t y ; T r o a s . & G o n . M g r . , R a lp h
Franchises, w i t h o n e m i n o r e x c e p t i o n , a r e p e r p e t u a l .
\V. B o y e r , A l b l a .— V . 1 0 3 , p . 9 3 9 : V . 1 0 5 , p . 4 9 6 .
4
ELECTR'C RAILWAYS
R a le s .—- I n M a y 1 9 1 8 f il e d w it h t h e P e n n . P . U . C o m m , a n o w fa r e s c h e d u J e , e f f e c t i v e J u n e 1 1 9 1 8 , p r o v i d i n g f o r i n c r e a s e s in l o c a l a n d l i m i t e d
p a s s e n g e r fa r e s o n t h e P h ila d e lp h ia a n d S la t in g t o n d iv is io n s a n d in c r e a s e s
m a ll e o m m u t a t io n r a t e s o n a ll d iv i s i o n s .
V . 106 p 2123
I n J u l v TOLk
f i l e d a n e w t a r i f f e f f e c t i v e J u l y 2 0 1 9 1 8 , p r o v i d i n g ^ r ' i n c r e a s ^ ^ n a ll
c l a s s r a t a s a n d a n i n c r e a s e d m i n i m u m c h a r g e . V . 1 0 7 p ‘>91
In S e n t 1918
t ile d jo i n t l y w it h t h o P h il a . W e s t e r n R y . a t a r i f f i n c r e a s i n g ^
a n d c r e a t in g s e v e r a l n e w z o n e s . V . 107 p
1101
g
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C o o k ; T r e a s ., S . L . S tu r g o o n ; A u d ., O . K . A y e r s G o n . M g r ., F . L . M o w r v
— V . 102, p . 977; V . 101, p . 2553; V. 106, p . 2561; V . 107, p . 83, 403.
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h a d p r e v i o u s l y a c q u i r e d t h e I n d i a n a N o r t h e r n 'T r a c t i o n C o . ( V . 8 1
d
1 8 4 8 ). M u n c le A U n io n C it y T r a c t io n C o . (V . 8 3 . p . 9 0 ) a n d M u n c le
la r t f A F t . W . R y . (V 8 2 . p . 8 0 5 . 8 6 9 . 1 0 1 1 ).
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w a s a c o n s o l i d a t i o n o f t h e U n i o n T r a c . C o . o f I n d i a n a ( l n c o r p . In J u n e 1 8 9 9 )
a n d th o In d ia n a p o lis N o r th e r n T r a c . C o . (ln c o r p
In A p r i l 1 9 0 2 )
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4 s o o w n s t h e $ 1 0 0 ,0 0 0 1 st M . 6s o u t s t a n d i n g a n d $ 4 9 ,5 0 0 o f th e $ 5 0 ,0 0 0
s t o c k o f t h e T r a c t i o n L ig h t A P o w e r C o . a n d a o n e - f o u r t h in t e r e s t in t h e
U n i t e d T r a c t i o n s C o a l C o . , w h i c h o w n s a n d le a s e s v a l t i a b l o c o a l l a n d s t o
in s u r e t h e c o . a n a d e q u a t e c o a l s u p p ly .
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in v . 1U 4, p . lo U o .)
. »1 ’ n S i u<.l*^L1S ^ li S , ^ o r i b e r n T r a c t i o n a s s u m e , ! p a y m e n t o f t h e p r l n . a n d
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$ 5 2 1 ,0 0 0 ( V . 1 0 0 . p . 9 7 o ) .
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c o n n e c t io n w ith th e le a s e o f th e M u n c le A P o r t la n d T r a c t io n C o . t o th o
In d . N e w c . A E a s te r n T r a c . C o . , w h ic h s o o b e lo w .
F a r e s .— I n D e c . 1 9 1 7 t h o I n d . P . S . C o m m , d e n ie d t h o c o . a n in c r e a s e
In f a r e T r o m 5 t o 7 c e n t s o n t h e B r o a d R l p p l o l i n o b e y o n d F a i r f i e l d A v e . a n d
I n c r e a s e s t o 6 c e n t s o n t h o lo c a l lin o s in A n d e r s o n . M u n c l e , M a r i o n a n d
E l w o o d , b u t p e r m i t t e d it t o i n c r e a s o t h o r a t o f o r m il o a g o b o o k s o n it s lin o s
t o 2 c e n t s p e r m i l e , c o m m u t a t i o n t i c k e t s t o 1 Xi c e n t s p e r t n li o ( r r o r a 1 W
c e n t s ) a n d s c h o o l p a s s e n g e r s t o 1 1 -5 c e n t s a m ile .
E ffe c tiv e J u n e 10 1918
w a s a u t h . b y t h o I n d . P . S . C o m m , t o in c r e a s o fa r o s f r o m 2 t o 2 1 4 c e n t s p e r
m ile fo r t h o d u r a t io n o f t h o w a r .
V . 100. p . 2346.
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a u t h . t o in c r e a s o f r e ig h t r a t o s .
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1 6 2 0 . 1695; V 9 9 , P- 135: V . 10 0 . p . 9 8 2 ; V . 102, p . 2 3 4 1 .
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T r e a s .. F . O . B a ll , a ll o f M u n c ie .M n d .j A s s t S e c
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O F F I C E R S .— P r e s ., S . F . I la z e lr ig g ; S e c . ft T r e a s . G . B . O a d e .— T . I I ,
i. 1 4 3 5 , 1 7 2 2 ; V . 1 0 6 , p . 2 7 5 5 ; V . 1 0 7 , p . 8 0 1 .
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a m o u n t o f S e a s h o r e R y . 6s .
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d e p o s it e d u n d e r th e n e w g e n e r a l m o r t g a g e .
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In 1908 t o 1 9 1 6 , 3 % : n o n e s n e e .
R O A D . — B e l t t in * I n A s b u r y P a r k , 5 . 8 5 m i l e s ; A s b u r y P a r k t o P l e a s u r e
B a y a n d N o r t h .L o n g B r a n c h . 1 4 .6 0 m ile s ; A s b u r y P a r k t o M a n a s q u a n .
1 4 .1 6 m ile s ; t o t a l t r a c k , 3 6 .0 8 m ile s .
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N e w Y o r k ft L o n g B ra n ch S te a m b o a t C o .
R E P O R T .— Y e a r s e n d in g D e c . 3 1 :
1917.
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1914.
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B o n d s .— $ 7 5 ,0 0 0 2 d m t g e . b o n d s a r e r e s e r v e d f o r p r io r lie n s .
1s t M .
b o n d s o r ig in a lly m a tu r e d J u ly 1 1911 b u t w e re e x t e n d e d 10 y e a r s t o J u ly
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O F F I C E R S . — P r e s . . L . A . R o b i s o n . P i t t s b u r g h : S e c . Sc T r e e s . . W 4 m B .
M o r r is , P it t s b u r g h ; S u p t ., R o b e r t H u g h e s . A s h t a b u la .— V . 9 8 , p . 7 b l .
P E N N S Y L V A N I A St O H I O R Y . — A t r o l l e y r o a d
T h e s a m e In te re sts c o n t r o l th e A s h ta b u la R a p id t r a n s it
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a p p lic a t io n o f t h e C it iz e n s ’ S a v in g s ft T r u s t C o ., m o r t g a g e tr u s t e e .
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s t o c k h o ld e r s t o d e fe r th e p a y m e n t o f in te r e s t n o w d u e .
V . 104, p . « o o 8 .
O R G A N I Z A T I O N . — I n c o r p o r a t e d M a r c h 17 1 8 9 8
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E A R N I N G S .— F o r c a le n d a r y e a r 1 9 1 7 , g r o s s , $ 1 1 6 ,0 2 7 ; n e t , $ 2 0 ,7 5 9 . In
1 9 1 6 , g r o s s . $ 1 1 9 ,5 7 6 ; n e t , $ 3 7 ,3 2 8 .
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b u ilt w e s t w a r d f r o m C o n n e a u t t o K in g s v ille ft .A s h t a b u la . 13 m il e s , a n d
s o u t h f r o m A s h t a b u l a t o J e f f e r s o n , 1 0 m i l e s ; t o t a l . 2 6 m *IesR , ,
p itfs O F F I O E R S .— - R e c e i v e r , P a l m e r W a r d m a n , I r e s . . L . A . R o b i s o n , l l t t s b u r g h - S e c ft T r e a s .. W . B . M o r r is . P it t s b u r g h .
O ffic e a t A s h t a b u la .—
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“ E l. R y . S e c t io n ” f o r M a y 1 9 1 8 ) fo r a b o u t $ 1 8 0 ,0 0 0 .
V . 103. P- 144
I n J a n . 1 9 1 7 t h o c o m p a n y a c q u i r e d a ll t h e in t e r e s t s o f t h e I r a n k l l n L ig h t f t
P o w e r C o ., B r o a d R iv e r P o w e r C o . a n d th e J . B . M c C r a r y C o . a t H a rtv ro ll G n
« i ’- n i ,ia s e s t h o G e o r g i a R a i l w a y f t E l e c t r i c C o . ( s e e b e l o w ) ,
f u J u l y 1 9 1 7 I s s u e ? $ 2 , 5 0 0 , 0 0 0 6 % c o l l a t e r a l g o k l n o t e s t o . P r ° ' ' i.d “ ' n
p a r t fo r im p r o v e m e n t s a n d n o w c o n s t r u c t io n e s t im a t e d t o c o s t $ 4 ,8 3 0 ,0 0 0 .
O n A x ?!?.’ 17 ‘ u n 8 Vt h e ° ( V e o V g i a CK R . C o m m . a u t h . t h e c o . t o i n c r e a s e i t s
e le c t r ic it y a n d g a s r a te s , e ffe c t iv e S e p t. 1 1 9 1 8 . w it h th e r e c o m m e n d a t io n
♦ h at V h o A tla n ta , C it v C o u n c il p e r m it th e c o . t o in c r e a s e c it y c a r -fa r o s to
6 cts
t h o C o m m , h o ld in g t h a t it w a s w it h o u t ju r is d i c t io n t o p a s s o n t h a t
q x m s t lo n
I n s t e a d o f a u t h o r i z i n g t h e r e c o m m e n d e d i n c r e a s e in ■ r a t t w v
fa r o s t h e C it y C o u n c il, o v e r t h e M a y o r s v e t o , o n A u g . 2 9 1 9 1 8 in s titu te d
I n ju n c t i o n p r o c e e d i n g s t o s t a y t h e p r o p o s e d in c r e a s e s in e l w t r i c x t y a n d g a s
r a te s a n d a s k e d th a t th e C o u r t d e c r e e th o a c t io n o f t h o I t R . C o m m , t o b e
n u ll axu l v o i d .
V . 107, p . 1003.
T h e c o m p a n y h a s p e tit io n e d t h o S ta te
S u p e r io r C o u r t t o c o m p e l th e R R . C o m m , t o ta k e o v e r a n d d e c id o th e
q u e s t io n o f h ig h e r c i t y r a ilw a y T ares.
V . 10(, p . 802, J0o.
C om pare
V . 1 0 6 , P- 16 8 8 .
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STO CK A N D B O N D S D a te.
In terest.
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M a tu rity .
C o m m o n . $ 1 5 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) . ---------------------* l 5 0 0 0 . 0 0 0
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A T I A N T I C C O A S T E L E C T R I C R Y .— T r o lle y .
O R G A N I Z A T I O N — I n c o r p o r a t e d In N e w J e r s e y o n D e c . 8 1 9 0 5 a s s u e
ce s so r^ to th e A t la n t ic C o a s t E le c t r ic R a ilr o a d C o ., s o ld u n d e r fo r e c lo s u r e o f
fh n a o n e r a l m o r t g a g e o f th e la t t e r .
L ea ses th e S e a sh o r e E le c tr ic R y . o f
A s b u r y P a r k u n tH J u n e 6 1 9 3 7 a t $ 1 0 ,0 0 0 p e r y e a r a n d o w n s $ L 5 0 . W ) 0 o f t h e
$ 200, 000 to t a l c a p it a l s t o c k o f th a t c o m p a n y (m a k n g n e t r o n ta l $ 2 ,5 0 0 ).
a n d o w n s a ll o f t h e s t o c k o f t h o W e s t E n d ft L o n g B r a n c h R y a n d o f t h e
A s b u r v P a r k f t S e a G i r t R B . ; t h e f o r m e r Is b i a s e d f r o m A u g . 3 1 8 9 6 u n t i l
J u l y 17 9 4 5 a t a n o m in a l r o n t a l . a n d t h e l a t t e r f o r 9 9 y o a r s a t 6 % o n s t o c k
fr o m A u g . 2 7 1 8 9 8 ; b o t h s t o c k a n d b o n d s o f A s b . P a r k ft 9 . O
a re ow ned.
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k ($ 1 0 0
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s u p p lie s ^ t h e e le c t r ic lig h ts o f A s b u r y P a r k , A lle n h u r s t , B e lm a r , O c e a n
u id S p r i n g L a k e .
T h e S e a c o a s t 1 r a c . C p . (c a p ita l $ 1 0 0 .0 0 9 ).
m i n i n g fr o m B e lm a ^ lo ^ p H a g L a k e ? 2 m ile s , h a s b e e n le a s e d t o t h e A t la n t ic
C o a s t E le c . R y . f o r 0 9 y e ltr s ; Its s t o c k a n d b o n d s a r e o w n e d ,
f r a n c h i s e In
B e l m a r e x p i r e s l u 1 9 4 7 ; In A s b u r y P a r k In 1 9 3 7 . I n L o n g B r a n c h , s o m e e x n l r e In 1 9 4 5 a n d o t h e r s a r e p e r p e t u a l : i n O c e a n T o w n s h i p , p e r p e t u a l ; l a S e t
G i r t e x p i r e In 1 9 2 6 a n d 1 9 5 0 : f r a n c h i s e s o f S o a c o a s t T r a c . C o . a r e p e r p e t u a l
D e c i s i o n . — O n D e c . 1 1 9 1 6 t h e S u p r e m e C o u r t a t T r e n t o n s e t a s i d e a r.
o r d e r o f t h e B o a r d o f P . U - C o n n ix . r e q u ir in g t h e c o m p a n y t o
tr a n s fe r s
.n c r e a s o fa r e s f r o m 5 t o 7 c e n t s .
V . 107, p . 801.
STO CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S fz ir lr *1 0 0 0 0 0 0 ( $ 1 0 0 ) _____
- - ________
$ 1 ,0 0 0 ,0 0 0
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F ir s t m o H g a g e g o ld $ 1 ,0 0 0
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1895
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1945
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U ! ^ T ) atg f l l O O O 1; lc ^ j r t t e t C o l u m b i a T r u s t 0 ? . ' . ° N . V
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( $ 1 0 0 0 ) _______________ t f ) I n t e r e s t a t D r e x e l f t C o . . 1 h i l a . t r u r i e e .
S t o c k .— A f t e r t h e 2 d p r e f . a n d c o m m o n s t o c k s h a v e b o t h r e c e i v e d 4 %
n er a n n u m fo r 3 s u c c a n iv e y e a r s , th o 2d p r e f. s t o c k b e c o m e s c o m . s t o c k .
IS om ls — O f t n o $ 3 0 , 0 0 0 , 0 0 0 F i r s t a n d R e f u n d i n g M t g e . b o n d s . $ 1 . 3 6 ( . 0 0 0 a r e r e s e r v e d t o r e t ir e p r io r lie n s . $ 3 ,3 3 4 ,0 0 0 a r e t o b e p le d g e d a s
a n d w h e n is s u e d o n a c c o u n t o f a d d i t io n s a s s e c u r it y f o r t h e c o lla t e r a l
g o 1 n o te s
and
b a la n c e
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a d d it io n s .
& c .. u n d o r
p rot o c t lv e r e s tr ic tio n s .
S u b je c t t o c a ll a t 1 0 2 H a n d in t . o n A p r il 1 19 1 9 t o
1923
a n d th era a X ter a t 1 0 5 a n d In t. a ft e r 5 6 d a y s n o t ic e .
B o n d s a re
(• Jillable f o r s i n k i n g f u n d a t s a m e r a t e s a n d d a t e s .
A n n u a l s in k in g fu n d
p a y m e n t s a r e a s f o ll o w s : 1 9 1 9 t o 1 9 2 4 . $ 7 5 ,0 0 0 ; 1 9 2 5 t o 1 9 2 8 . $ 1 0 0 ,0 0 0 ;
1029 to 1953 $ 125 0 0 0 .
C o u p o n b o n d s $ 1 ,0 0 0 o r £ 2 0 5 1 5 s. 3 d . a n d $ 5 0 0
or £102 1 7 s?7 d .
O f t h e $ 1 ,1 0 0 ,0 0 0 o u t s t a n d in g B lu e R id g e E le c . C o . 1 st
m tg e
b o n d s , d u o J u ly 1 1 0 4 0 . $ 8 6 3 ,5 0 0 w e r e s t a m p e d a n d P u r c h a s e d b y
th e G e o r g ia R v . ft P o w e r C o . a s p e r a g r e e m e n t m a d e b y G e o r g ia 1 o w t r C o .
d a ted O ct
1 1910.
R e m a in in g b o n d s w e re c a lle d fo r p a y m e n t J u ly 1
1 0 1 7 a t n a r a n d in t e r e s t
B o t h S a v a n n a h R iv e r P o w e r m o r t g a g e s w e r e a ls o
c a lle d fo r p a y m e n t 1 ^ 1 9 1 7
T h e A t la n t a W a te r & E le c P o w e r b o n d s a re
s u b i t o c a ll a t 1 0 5 . T h e Issu e w a s o r ig in a lly fo r $ 1 ,5 0 0 ,0 0 0 b u t h a s b e e n
c lo s e d a t ^ l 4 0 0 .0 0 0 . 8 k . f d . J a n . 1 1 9 0 8 t o J a n . 1 1 9 1 7 , i n d
$ 5 ,0 0 0 p e r
a n n • t h e r e a ft e r u n t il m a t u r it y , $ 1 0 ,0 0 0 p e r a n n
See V . 102, p . 1540.
$ 7 6 0 0 0 In s i n k . f d .
C o lla te r a l n o te s o f 1917 a re t o b e s e c u r e d b y d e p o s it o f
$3 3 3 4 0 0 0 1st & R e f. M . b o n d s .
C a l l a b l e a t p a r a n d i n t . in a m o u n t s n o t
le s s t h a n $ 5 0 0 ,0 0 0 .
T h e y a r e fr e e o f a n y ta x o t h e r t h a n in h e r it a n c e t a x .
w h ic h t h e c o m p a n y m a y b e r e q u ir e d t o w it h h o ld .
D iv id e n d s .— A n in it ia l d i v . o f $ 4 ( 0 p e r s h a r e w a s p a id J a n . 2 0 1 9 1 3 o n t h e
1 s t p r o f , s t o c k , c o v e r i n g t h e 9 2 -5 m o n t h s s i n c e It w a s is s u e d ( M a r c h 1 9 1 2 ) .
in J a n . 1917 p a id 3 % o n a c c o u n t o f a c c u m u la t io n s ( 2 4 % ) .
H as sm te
p a id 4 %
a d d it io n a l o n a c c o u n t o f a c c u m u la tio n s .
R e g u la r q u a r . d lv s .
o n y t % lu v v o b e e n p a i d s i n c e A p r i l 1 9 1 7 .
,
6
ELECTRIC RAILWAYS
rv./iFJ, ° R T ,~ ° f com bined properties (1917 report In V. lQti. p. 1569):
C v™ ?r
c (jT 33
0;
W ler
Other
Int., Rentals. Balance.
,« ,i lear—
Earnings.
la z e s ).
Income. Sk. Fds A c Surplus
..........--*7 .8 0 7 .0 3 9 $2,915 597 $189,271
$2,485,242 $619,626
i o i ? ------------------3,076.929
120,359
2,383,681 ' 813,607
75.340
2.378.742
492 174
19i 5 ....... ............ 6.507.657 ,2 .7 9 5 ,5 7 6
520,0S in8 1916rrlOd (° n Clty systom ) In 1917- 72.076,392, against 66,50n
70P S(?amiKo T \ h ~ J n ial , VIIes sIngle ‘ rack 247.706
I
Standard g a i ^
. i .i ralls-., ° " rns water power sites in Northeastern Georgia
rn ra M A n an ultim ate developm ent o f over 577,000 h. p .; present d erelop.
» ‘ 1 . transm ission and distributing lines aggregate 676.85
h
N nv ' , o n h° 'ri,eritIr nU ine fr? m A ,lanta to Stone M tn . was com pleted In
1
Anrll i im . H i ' hv<r?Te,C01plant at Tallulah Falls was placed In operation
.Th0 sl*th and Iast unit o f 12,000 k. w. o f this development
is expected to b o r o a d y for s o r v i c e b y the end o f 1918.
P
O F F IC E R S .— Chair, o f Board, II. M . Atkinson: Pros., P. S. ArkwrightSo7 w
%■ W ‘ Brino; v - p - * Oper. M g r., W . H. Glenn:
a +i '' y * ‘
Treas-» I- S. M itchell Jr.; A ud ., II. Flynn* all o f
A tlanta. (V . 106, p. 1688: V. 107, p. 401, 696, 802, 905, 1003. ’
(1) G eorg ia R ailw a y & E lectric C o.
aonrnvmi- tho o22 30 12 t ,e stockholders o f the Georgia R y. A Klee. C o.
h
approved the 999-year lease from Jan. 1 1912 to the Georgia Ry & Power
and’ d7vsC on rnrAf1" ff th? t'
]£tter com pany guarantee all tile fixed charges
S?00*com h a v in L ? .,°m J iud dlv,s.-,/]r 8 % on com . stock, the holder o f each
In
„n
M additional consideration for the lease, $ 3.1 2 H
D 989p i n o a du?hl2 \ iu 2d 9 r0f- sA k ° f Georgia R y. & Power c d .T v .9 4 .
tof
Northern1 rt*
1 r,th1 ,Atlanta 0as, IAKht C o. and o f the Atlanta
°
°
hnt the liJ n r 'aa ,® ^ * n®1
i,ded in the preralsoe demised under the lease,
i w .h 'r f ■essor assigned and transferred to the lessee, for and during the term
°^\h n T M r 7 h T m <
R
t
J?le arising from any and all o f the said shares.
1
0
, l OC?:7 ~ Inc<lrp ,n Georgia on Jan. 28 1902. and on April 1
fh i^ r i00^ ,ov<S ithe Atlanta R y . & Power C o ., the Atlanta Ran Trari Co
for0
^loctric Light C o. and the Atlanta Steam C op’ Franchise
nHsfwerhTeat.er p
,art P8rpBtual; others 50 years from August 1899. Com taterestsh o f^ A tb n t?!n ! ? ' f ,®
lect^c-ll!?ht. gas, power and steam-heating
m ittlS ^
nd Fulton C ounty. By terms o f the ordinance nor^ h and a ^ eed
n iJ ;hef COmpa,ly pald f he city o f Atlanta $50,000 In
~
to pay, a tax on gross receipts o f 1 % for first 3 years
for the next 20 years and 3 % thereafter. V . 74. p. 397, 727. In O ct 1902
T m ^V Tri' and com . stock were listed on Boston Stock E xch. V. 75 p. 849
T hey are also listed on the Louisville Exchange.
p
SI n i 4 ( i « inm > ?l,i re1 tt.h e .en^ re capital stock ($600,000 6 % pref. and
aA .
J s i z z ^ ® »& or7 si5 tS ;N o” bS pR ;“
aK» »™
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common ($100).....................
Q-F
$8,514,600
See text
Preferred 5% non-cumulatlve
Q-J
2.400.000
See text
D *2j4q0.000 (par $100).........
Ref & imp mtgo $20,000,000 kvuy
" r; 7Z\
o K J-J
4 /710.000 Jan 1 1949
1 ......
1909
5g
gold ($1,000)----------------c*|Int. at Amer. Trust Co. Boston'Trustee
f^l'fl'.pQns ?t<?e 511,000.0001 1902
5 g J-J
5 760 000 Jan 1 1032
Atfan'ta 5trnA?dfi®u'90^ > f c * , t- at 0 ‘d Colony Trust Co., Boston Triis
[Vol . 107.
f “ r« Increases.— On’ Nov. 5 1917 the Bd. of P. U.Coram. of N. J. auth.
frnm V ? nr rn0 th? round-trip fare between Ocean City and Atlantic City
from 50 to 00 cents, or double the existing ono-way faro. In AXay 1918
^
vaf auth- to increase the fares between Atlantic City and Ploasantvlllo
“ ? n5'i and t ° increase rates in all other zones affoctetl 1 cent for ovory fare
n 20i 22 d 'v h^oTl° ° r ?mlp Wckets at 6 for 60 cents to be continued. V\ 106.
C
? i 22: V- r107- p - 2!>0- 1“ J“ ‘y 1918 notified tlio N. J. P. U. Comm o f '
from 5 cents to 6 cents, effective Aug. 6 1918, In tho zone oxinD Ag</rom met Loop, Atlantic City, to Savannah Avo., Margate, and
H
in tho Savannah Ave.-Longport zone. V. 107, p. 179 Thoso increases
d^ .T o n ,bp s i Comra7 y
a S ^ f . m . o o o ° m o o ) Z . . D* e
;
! nleresl:
X T tiT
Maturitvcod trust deed) 1905
5 g J-D
'950 000
?ton0 ’00N a 8| '2°0) e -c * t f ‘ r“ '1 at Girard Trust C o ./P h lla .. Trusteed
di0
1
.
M A n " ^ ^Operates? 47.45*miles of track ,!edandany t,mo Atlantic Citv Inn i2 S S i r A biifc ca5 p® c1 in at around at 110 aud Int.
K
a
ai
AD,
Oltv "oin Kpf'irt iwOUKhiPf el SaintvllIe’ L,“ ",ood and Somers Point, to Ocean
J
S I bV ?{?A S M X ^H 'S S S ’Sw 5 5 2
*,K br,a«
l
“fn -.S fliS f. $SSg$^f<
S.feisS;
i.n'hu ? n1 since appointmentInt.,receiver surplus. $18,892. No earnings
)',tals' $86,392: o f 347,500;
earnings
Published r|
Oat^ThanKmS' ~ Pr?s' ; 1' i I - Silverman; V .-P.. Charles Evans; Sec.. J. M .
?<fn«PVqo\
I- ^•,o^t0PS:,«Gen. Supt., A. J. Purlnton. -V . 101, p.
1806, 1884; V. 106. p. 2122, 2343; V. 107, p. 179, 801.
1 ?.‘
A t la n t ic C ity
& O cean
C ity C o m p a n y ,
in e Atlantic City & Ocean City Company was organized In Delaware
A
l}?anu.nri!’l’ 0 “ “ tire ($180,000) stock and all tho ($180,000) bonds of tile
«)Vlatora|t iriMi*h?C
danKS: ty RIA>' ^nd haa P,8d*!® them as security for the
^
d
f f i t & ? £ ‘ bond> P,?o'v- V „ ? f tl10 common stock of the Atlantic Cltv &
„eJ
Ocean <vlty Company, $218,500 Is owned by the Atl. City A Shore RR
c
The
11 d8£nnS ,the At ’ ° ity * Ocean City RR. for 999 years, tho rental boof*the°nob°u^lusTbut’ not*toD
exceM°W^.OOOtper0annum.e<1Ual t0 33 1‘ 3%
Co8
rJm,m.V350l000ONDS" "
Intere3tMaluritt>
Prof 5 % non-cum $250,000.21 I " !
.............
i76nnn ...................
Collateral trust gold $500,-1 1907
5 M -S "
350 000 M a r 'l 'l 947
OOOrodeflmable l 103c InttffG Irard Trust Go.. PhUadeiphla. Trustoo.
if??*
1 m pr0‘ *
la redeemable at par.
- K' D -““ V?0, Atlantic Oity & Ocean City RR. owns 2.01 miles of road
to°Ocea™C^j\°hitattsTs^
Irvha^!GStone~~Pre3'* P0nr030
8 ^ /p^ri58 :,Vl.y87°,U
pbll0 5 f ftMd trefdd^
Sec., j . M . Oarapboll; Treas..
(2) A tlantic & Suburban Ry.
— Incorporated In Now Jersey Dec.
O R G A N IZ A T IO N
d o m t f t o t m f t f ‘ V?8C ? ^ 1 2 3 S“ b1532.“ TraCt'° a
7
7
7 1908
ns
a re-
SOld Und0r for8'
StocI°$750A
W0D($B )N.D! ^ . Date‘
5O
InleTt3t- ^ 4 ® ? '
Maturity.
* ■ % nnn?rtgage' 5650.0001 1909
4 g'F-A
591,'l00 A 'ug*Tl929
Prlnr *ll2? i v r 'o / i T w f ~c t f ( [nt- at Cambridge Tr. Go., Chester. Pa.. Tr.
l?byM T O
A
! Utr i — af
5%
10° -000 P0b 1 192^
A» S ^ g(S1.000each) -_c*(In-t.99
(s T ^ ^ 2d
R
^avo no, sinking fund. V. 87. p. 1237.
500,000
payablo in N. Y. at N. Y. Trust Co and
EARNINGS.— For calendar year 1917, gross. $84 536- not $22 1
Gwrgla Elec Light Co 1st M 1900
6
SS O O O O ^ u^ H o'fd oth« i “ C" $3,030: interest, taxes. Ac.. $37.§12; ios^ $12 621 ' 5 2,155
y!i « « i i ;I ^ o Oi>
P0^aJ®’
1 1 1 3 of track from Atlantic City to Pleasant110
10 5 °;.® ..:fT.bJeCtc ° { InT ^ t e o t 0kl CoIony ^ s
°t°Go., Boston0
O F F ?n F »a
o6 and Ab3eco“ - Standard gauge, 80 Ih. T rail.
OFFICERS.— Pres.. Harry E. Kohn; Sec.. J. M . Campbell- Troa*
r
^ V -1
^
1.150.000 June 1 1947 Irvlu L. Stone— V. 87. p. 1299. 1532; V. 88. p. 881: V. 90. P. 1424.
$1,150,000, g ($1,000).-c* (Interest at New York Trust Co., Trustee, or
r\r »u„
nnr. AA^llfank of Scotland, London, Eng.
fd o s e d f g e V o f l O O ^ u ^ ^ n n o 8 a Uallway & Electric Company bonds
W m m his hMn 9 r i i r H 47n ,01 0 are resei;v0d ^ retire underlying liens:
0
/
P660 rot,r0u. Red. on any Int. date at 110 and int
A
OROANfy v r irw N
& GLEC. CORPORATION.
e a c h yea^from^QO? t o ^ on™! ,ni 1? 07 wb'ch retires $10,000 of bonds
„ 1 2 A T I O N . — C h a r t e r e d In M a r c h
19 0 6 u n d e r la w s o f S o u t h
1916 fnchislve
nrfnl1 ’ ‘ “ elusive; $25,000 per annum from 1912 to
A u *?u s t a A C o l u m b i a R y . C o . ; n a m e c h a n g e d t o a b o v e In A p r i l
a iinJi
" ¥vaVJ?,0°® per ann,|m thereafter. See V. 74. p. 629 727
1 9 1 1 a n d Is a c o n s o l i d a t i o n o f t h e f o l l o w i n g c o m p a n i e s :
it oneAtfve" *23°. nnr?KPm *^°<>° b<»nd on the Atlanta Gas L tPCo bonds A u g u s t a - A i k e n R y . A E l e c . C o .
I
A u g u s t a Itv A E le c C o
MW
a it* m
V
r
Atl. Consol. St. Ry. bonds are red.
'(
l
° i‘
o t
a
!
t
at f 0^ ao,e *t 107}4. but $25,000 In Jan. of each year for sinking fund at A u )vw in t<f anr|A5 kp00n J'O3 eG t i r e r a nl w a y s y s tN mr s h o fA u g u suts t aE l e c a . A a Inm p N. o C toh
A
i s t a a ^gd
^a
n
i
e
Aug
O
,
d
r
nrfn? I i . n o / iSSi i .' * ‘ mpt. mtge. bonds. $11,230,000 are reserved to retire
il* a n d a U“ e f r o “ i A u g u s t a t o A i k e n , S . d .
A ls o fu r n is h e s
‘ eirS ‘ ‘ “ eluding the $400,000 Atlanta & Northern bonds) and ro
v a ln a h ti ^ ?
i « ? » T a n i p o v v ,; r s e r v i c e In A u g u s t a a n d i t s s u b u r b s a n d o w n s
d
MO sublMt" to call nna a“ d ‘mprovements up to 75% or actual cost. Bonds
are euDject.to call on 50 days notice at 105 and int.: a sinking fund of v a l u a b l e r e a l e s t a t e In c e n t r a l p a r t o f A u g u s t a . R a i l w a y f r t i n r h i m in
^nU n r m hae x p iir 0iS i 193 i9 ; fllect1l°-,l*“ t|ng franchise runs until 1939 or longer*
t
r
V vid en d s 0 n . v & L n l9 I0 ‘ ^239,000 retired by sinking fund.
►
v 3
3
p r l v a t ° f li g h t o f w a y .
V . 92. p 1177.
A ls o o w n s
om S
T
M
a
T " 0W pak u,1(ler lease (see above). For record t o T n n ^ t r n n f 0 ^ 0 " ] , sJo c k ,of GeoTgla-Oarolina P o w . C o . , incorp. I n S o . C a r o ,
r uiviaenas paid prior to lease, see this section for January 1917.
to construct t h e hydro-elec, p l a n t o n S a v a n n a h R i v e r w h i c h w a s p l a c e d In
EARN ING 3.—-Included In report o f Georgia Ry. & Power Go. above.
canaclty°about 2°8 0no n " ?
^ U t l o n T i ^
0
PA
O p e r a t i o n o f t h in p l a n t w a s t a k e n o v e r b v t h e
903 b A
rUl'7"° '^ 73,,2 i ° '5/55 mlIef pf track (single-track basis). 70. 80 and a ii !! ! ? f ®*?1 U t
.
O F F m R R q 87
fiSr a,n,‘ ^Spthor cars. 2 power stations.
'TT°H S
• i,1
“
re?n-r.Prc'*
nk
Ulock: V.-P., T . K. Glenn; Sec. & Treas..
H - WriKht.— V. 100, p. 733; V. 106, p. 710; V. 107. p. 401.
t e n d
t f c t t A u i , » 1 S f f i o 5 f r l “ l u ,l d ' ” * “ 10 * h » N o " 1 A u « u , u l l o t e i
*
O RGAN P/Arr
i 6rS Rallway, Co.— A trolley road.
2 3 1 9 1 5 t h e s t o c k h o l d e r s a u t h o r i z e d a n I n c r e a s e In t h e 6 % c u m
p r e f . s t o c k f r o m $ 1 ,5 0 0 ,0 0 0 t o $ 2 , 2 5 0 , 0 0 0 . t h e n e w s t o c k h e lm : I s s u e d In
Electdc^Cof, 'which1i^arantees^the bonds"^ " " th° G°0r!?U Ka,,way & fafCh n i 0i ? e r° r th»e $ 7 5 0 , 0 0 0 p r e r . s t o c k o f t h e O e o r g i a - C a r o l l n a I n v e s t C o
'
Stoc^sVoOJWO^ BONDSDateM erest. Outstanding. Maturity.
First mortgage MTO.obo iiw T 1904
jV j-j'
snn'fvin i n l i 'l
Bonds — Are girnr1
1° I nt'd 1 HId h °l^ny T r' O °-,’ lj0st«n.y
'rrustee
AUGUSTA, GA.
^ a s i . r”r i rs. c;o» . ,v"A,a^;:°,^ , w
1
? Ia rx
In S oot
1 1 6 1 8 In cre a se d fa re s fr o m
A u g u s ta rea m S
t o lO cS T te
V . 1 0 7 . 1? ,'.
“ e A R N IN g S - r S “ ySS,d: „ * d 7 „ g " D !" " nk' ,U,’ d V ™ ' ’ ■» 8»10 17
Taxes. Int., A c.
Balance.
jo ,ft .................- ............... $141,537 $33,220 $5,430 $28,385 clef $595
C o T n m ^ V i^ M f/.O O O 1 ^ V o f ) ) - . . ^
P r e f 0 % c u m $ 2 . ^ . 5 0 . 0 0 0 ( 3 1 0 0 ) _____
P (1*1 0 0 0 )
5 7 • 0 0 .O O O . “f o b i l 19 1 0
5
w h i c h A a*ro_ ^ w ^ a ^ a n d ^
o f t r a c !{ f r p i n A t l a n t a t o M a r i e t t a , 16U2 m i h « l
.
w ith O a R v
t F l / ’ n “ }SSHy o “ , p r v a t e r i g h t o f w a y .
f { a s a rra n g em en ts
A t la n t a ' S ta n d a r d
r r a ,n a ^ , a n d t r a c k a g e r ig h t s I n to t h e c i t y n '
'2
___V . 7 9 ; p . 6 8 0 .
g a lIg e ’ 7 c a r s C o m m e n c e d o p e r a tio n J u ly 17 190 5
o l h T o ^ % T s h C \ lat- at Mer'
^
A u g u sta
A T L A N T I C C I T Y , N . J.
ATLANTIC C IT Y & SHORE CO.
i?3.<™^harA
J
&
Owns 2.995 o f
S n d s oS
fhAH»nMi. A° S u ^ ° n RyT” ° f tht’ 5591-10° 0utsta^ lr‘ « l3t
Date-
Inter*3t- ~ P jQQrn&
b/ i ' 9 ' o o A|
w
Maturity
; £l ty ? Shoro R R .— An electric road.
V' 85- p- 158’
° ent- p™»- « y -
» * » . S'A miles. Is operated by thta company
R y " A * E l e c 'i s t
M
g|
Q \f
,5 g J -D
x< "oon 5 g J8 D ° 0 '*
-
2 250 030
2 !9 3 9 !()0 0
M a tu r it^
SM te iV "
D oc
11935
N 9 P ’ T)?) 0k J u u e ^ V T o ^ n
Tr' & O oP.W M rV ua1 0
^
0 0 0 g ($ 5 0 0 a n d $ 1 .0 0 0 ) .- J
1912
5 J -J
2 .7 5 0 .0 0 0 J u ly
1 lo s u
D
, — n e -iu
C e n t r a l T r u s t C o . . N e w Y o r k T r u s t .o i.
b o n d s , $ 8 0 , 0 0 0 a r e in t r e a s u r y
i o 19
l n s I n k i“ * f u n d ( “ « t i n c l . in a m o u n t r e p o r t e d o u t s t a n d i n g ) -
P n 11 x r l ' V v ’ ' id a y <?.n i3.9 d a y s ' “ o t l c o .
I n t e r e s t Is p a y a b l e n t R e d m o n d
S 9 r, n n rT T T 'r y r r k ', s l “ k i “ K f u n d b e g a n In 1 9 1 6 . p r o v i d i n g f o r p a y m e n t o f
lo
f 2„O’ O 0 0 p e r a n n . 1 s t 5 y o a r s , I n c r e a s i n g t o $ 4 0 , 0 0 0 , 3 5 0 0 0 0 a n d 8 6 6 (100
fo r e a c h s u c c e s s iv e p e r io d o r 5 y e a r s u n til m a t u r it y o f b o n d s .
V 92 p
i 1! 7 - . A “ f “ s t a R y . A E l e c , b o n d s c a n 0 0 c a l l e d I n 1 0 , 2 0 o r 3 0 y e a r s f r o m
J u n T it i1 ° n - fVnw
o
v o a r s 1 M g 'n o n
S o p t . " 1 l f M S 100
and
anu
o n 6 'J V i'14, 113’ l l o t i c o : s i n k i n g f u n d o f A o f 1 % b e g a n
i1 % f o r n o x t 10 y o a r s a n d 2 %
o r r e m a i n i n g 10
n a m o u n t o u t s t a n d i n g ) w a s h o ld ln s in k in g f u n d
n 0 t ln C '
operated under
* AtUntlc G'ty to Long
3
fo r
n r n aa r i ^ h « w d h, n t ;
5 5 3 ,0 0 0 a r o h e ld b y A .- A . R y . A E le c . C o r p .
5 1 4 ,0 0 0 a r o h e l d b y t r u s t e e f o r s in k i n g f u n d ( n o t in c l
In a m o u n t
t o Pr e t i r o ‘T i l ” t h n ^ u cli5is > ‘ f S i n 'd n ? f u n d b e g a n i n 1 9 1 8 a n d w i l l 'b o
t o r e t ir e a ll th e b o n d s a t m a t u r it y .
T h ey aro gu a r,
p
i A
A u g u s t a -A ik e n R y . A E le c . C o r p .
V . 9 5 , p. 1 7 9
1
D iv id e n d s — I n it ia l d iv i d e n d o n p r e fe r r e d — 1 A % — p a id D e c
t o a Q d in c l. J u n e 1 9 1 4 .
N o n e s in c e
K Li I O R r . — F o r y e a r s e n d i n g D o c . 3 1 . ( 1 0 1 7 r e p o r t I n V
103
Oaendar
trafTIc i Z r a e n t
O
*° ,n C T e a S e fa r 0 S ln
. J f b e G a .- O a r o . P o w . b o n d s a r o s u b je c t t o c a ll a s a w h o le , o r in p a r t
dSeFebndl 2l928 ot F e ^ l T f l l o " 68 ° f 8t° ° k ° T that compa“ y - ' They fall
I. LP 8tone?a ' ~ f>ree" Harry K' Koha: aec- L - B- Tsenthal; Treas..
DefmUt8
S
aK iuiii/ion s , * v c . “ o U DtJd t o- n an l 'a0 A lwlh‘ o Pe y ( o r i n I e cr‘ t bfo n dss na n df db. ) l a t c1 0 ^ n.n /1
s S
/ * E pa
a a n e is f o r
c d d t io ns t o
. r c l
a a ,
l
or » k.
*“ Gelaware;
S t^I?$L00(L01
00JONDS~
■ '® s s
A u g u s t a t o A lk o n
1 9 1 8 a0
nnM eC n n V h n n t h “ a p p ,r,o v a l O f t h e S . O . R R . C o m m i s s i o n :
d t
Cross (All Net after Int. on Co D illo n
Other
Sources).
razes.
Bonds. Sub.Co.Bds. Int Ac
s u ffld o n t
s
f
l> »
’ 0y
30 t o il
50 1 9 U >
* > iin \
SirntuV
( 6 ‘ 7 ----------------$ 9 2 5 , 5 2 4
$ 4 0 2 ,4 2 4 S 1 9 3 18 9
3137 500
3 0 7 « i s r .i o c i
l i ) lG - - - -S S T S . 450
$ 4 0 6 ,7 3 5 $ 1 9 5 ,4 9 2
$ 1 3 7 ,5 0 0
$ 1 5 ,0 3 2 $ 5 8 0 6 1
i o v 7 * i c f A a i ' ? i n 2 'i '7 ^ ' o r . 12 m o n t h s e n d e d J u l y 3 1 ;
'
1 9 1 6 - 1 7 " ' $ 1 ’ « 4 R ’ 7 fi9
5 5 0 5 ,5 9 4 $ 1 9 8 ,6 9 9
$ 1 3 7 ,5 0 0
$ 1 ,8 6 0 $ 1 0 7 ,5 3 5
1
w i i / i a * ' t a 8 4 6 ,7 6 3
3 8 1 ,4 2 5
2 0 5 ,8 3 3
1 3 7 ,5 0 0
1 ,1 7 5
3 6 ,9 1 7
^ A D — O w n s a n d o p e r a t e s 5 3 .2 m ile s o f t r a c k , o f w h ic h 2 8 9 2 m il e s
G
t o l(jo yib n T r a l s 24 o ? a , ? im , ln t e r u r b a '; b ° G v e o n A u g u s t a a n d A i k e n , 6 0
O lin s te a d
T
S ta n d a rd g a u g e
O w n s L a k e V ie w P a r k o n L a k e
R S — ^ re? r ’
B r o ' v’ “ '- V . - P . , J . H P a r d e e a n d J . 1 . C h o a t e C
n eCQ f a n v T m i5 ' ' " D, Qn o ‘ r f l o n l a s : M g r s . , J . O . W h i t e M g t . C o r p — V
103
p . 3 1 8 , V . 10-1, p . 1 8 9 8 , 2 3 3 8 ; V . 1 0 6 . p . 1 3 4 3 , 2 0 1 0 , 2 1 1 7 : V . 1 0 7 ]i 1 1 9 4 '
ELECTRIC RAILWAYS
fSEPT., 1918. |
A U S T IN , T E X .
AUSTIN STREET R Y .— A trolley road.
ORGAN IZATION .— Incorporated In Texas on Jan. 3 1911 as successor
to the Austin Electric Ry. Franchise expires In 1942.
—
W
R
B
B
j
is ii
.“ • °t|S‘ »
| «w --
arc subject to call on any Int. date at 102 )$. Annual
of b o n d s out began in 1915. V. 92. p. 185; V. 93. p. 1461.
Ann in
874.000 In
MI&MflE«OTds!— I’ r i o r K i l n ’S paid 6% on prof, and 4% on common stock.
No later Information.
EARNINGS.— For years ending Dec. 31:
„ « « « /.
c„m
n X r .--.........- 5s ?3 6 3 j o k *
sB F
' M« #
19H O A D .-O perates1 2 'J
2
mileVof0t2
raclc.J 55 and 7 2 -lb. raUs; 45 cars.
V W o c t? /
| e - ‘.
E. I*. Wilmot; Asst. Troas.. G. E. Macombor. Augusta, Mo. V. J3,.,p.
526. 146l. 1531.
AYER,
M ASS.
R y ., and associates acoulred control.
_
ORGAN IZATION .— Incorporated In Massachusetts In 1903.
STOCK AND RONDS—
Date.
Interest.
Outstanding. Maturity.
Stock $275,000 ($100)---- . . . - - - *u 7 R,non 1 Jail lI I0>fl
IT
Irvit infiro («og text) ftold/ 1906 5 8 J"J
275.UUU l ! n
LJ-o
F (S1 OOmno sinkliiK fu n d -, (subject to call at 105 and Interest.
Bonds.— First mtge. was originally for $1,000,000, but has been closed
7
date at par and accrued int. $48,660 are held by trustees. All bonds are
listed on Balt. Stock Exchange and the 1st Consol. 4s and $14,000,000
Income 4s are listed on the Phila. Stock Exchange. $8,000 Central Ry.
1st cons. 5s are in U. Rys. & El. C o.’s treasury.
In Feb. 1916 issued $2,750,000 5% 5-yr. notes to retire the $500,000 Balt.
Cato ns villa A Elllcott’s Mills 1st M . 5s due July 1 1916 and the $1,001,000
5% coll. tr. notes due June 1 1916. called for payment Mar. 13 1 9 1 8 . and to
provide for certain capital Impts. during the 5 years following. No new
rntge. can be created upon present property during life of uotes without
giving notes equal security with bonds Issued under such new mtge
V.
102, p. 523, 610. $1,527,000 had been exchanged for conv. 5% gold notes
^Convertible Notes.-—Convertible at the option of the holder Int-o com. stock
at $30 per share within one year after Aug. 15 1919, at $33 during the next
year and at $36 thereafter until Feb. 15 1922. $3,000,000 bearing b 7o int,.
were Issued for new equipment, extensions, &c., stockholders being g>ven
preferential subscription rights; remaining $2,750,000; bearing int. at 5%
for exchange, par for par, for the 5% 5-year gold notes due beb. 1 1921.
See V. 105, p. 820. 910, 1523. $1,527,000 had been so exchanged up to
Aug. 31 1918. Redeemable (subject to the right of conversion) at par and
int. on 30 days’ notico. Safe Deposit A Trust C o., Baltimore, trustee.
D IV ID E N D S.— Dividends of >$of 1% were paid In June 1899 aud 2 t£% .
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 Vi of 1 % for taxes.
None thereafter until June 1911. coupons being funded. On.June 1 1911
paid 2% on both income bonds and pref. stock and 2 7o
®
u
6 months since. On com. 1st dlv.— 1)4% — paid May I9l~. Nov.. 1J4%In 1913 and since. 4% per annum.
r. rt A.U in
.
ROAD.— Miles of track, 414; serviceable cars, 1,972, gauge, 5 ft. 4)5 in.
Rails *70-lb. T and 9-in. and l ‘2 4)4-lb. girder. Capacity of (3) generating
stations, 34,755 k. w. (an additional 20,000 k. w. unit is being installed)
capacity of (7) sub-stations, 45,200 k. w.
REPORT for the year ending Dec. 31 1917 in V. 106. P. 1679:
1917.
1916.
ly io .
*•
Car miles run
____ 33,705,804
31,397,513 29,522,100 30,250,194
Revenue passengers------- 212,893,619 199,158,285 181,744,023 1§ § ,r ^ ’ 8 7 Q
'Pransrers
83 430.701 81,771,297 / 5,807,256 </.lU2,8<y
Operating revenues------- $10,560,837 $9,914,051 $9,028,144 $9,203,839
** in l a n d s .— In 1916. 2% ; 1917. 6% .
i s a M r . ” ” :::: 5® S §
4« ? § § 4i »:?P 4’4 g « l
EARN INGS.— For years ending Dec. 31:
,
Taxes, licenses, A c_____
1,079,723 • 994,840
924,534
909,<44
rni Vrivr— Gross Net.aft.Tax. Other Inc. Int.
Dividends. Surplus.
1917
$9™384 $31,002 $1,778
$13,750 (6%).? 16,500 $1530
$3,685,676 $3,855,559 $3,550,363 $3,512,261
Net oper. Income__
96.101
92.000
8,333
24,721
i 9 i 6 : : : : : i : 6 8 .2 7 8
2 0 .4 7 2
1 .7 6 4
1 3 ,7 5 0
(2 %) 5 . 5 0 0
2 .9 8 6
Other income.
R O A D __Operates 14 miles between North Chelmsford, a suburb of
Total net in c o m e .... $3,781,777 $3.947,559 *3.558.698 S3.536.982
Cowell and the village of Ayor, with a spur running from North Chelms
Int. on bonds, rents, Ac. $2,347,111 $2,280,355 $2,180,248 ,$2,158,53
ford to’ VVestford; connects at North Chelmsford with Ray State St. Ry
and at Ayer with Fitchburg A Leominster St. Ry. Has 11 passenger Int. on income bds. (4%)
559,080
j 59’ q5o
55 9 2 0
Preferred divs. (4 % )—
920
Q1Q920
- WO
920
. . . . i »iiow olow and 2 other cars,
_
818,448
818,448
818,448
818,448
OFFICERS — Pres.. VV. VV. Sargent; V .-P ., O. F Baker; Sec. A Treas., Common divs. ( 4 % )-- R. N. Wallis, all of Fitchburg. Mass.
Surplus for year_____
$56,218
$288,756
None
None
OFFICERS.— Pres. A Chairman of the board. Thomas A. Cross; V.-P. •
B A L T IM O R E , M D .
J. Pembroke Thom; V.-P. A Gen. M gr., James E. Pratt 8kw.. William
Sired railways of Baltimore pay a park tax of from 1% to 9% of gross receipts Early; Treas., J. T. Staub; Aud., N. E. Stubbs.— (V. 106, p. 819. 1345.
from lines within City limits, except on turnpikes and private rights of wav, and 1578, 1679. 2451. 2759; V. 107, p. 292, 403, 907.
are required to pave between tracks and two feet on each side.
(1) Baltimore Sparrows P oint & Chesapeake Ry.
UNITED RAILW AYS & ELECTRICCO. OF BALTIMORE.— Trolley.
ORGANIZATION.— In Jan. 1903 was leased for 999 years to the Un.
ORGAN IZATION .— Incorporated at Annapolis March 4 1899; com Rys. A Electric Go. of Baltimore, which guarantees the bonds below., both
See v. jv,, p.
prises through consolidations the following passenger railways In Balti m to principal and Interest, and also owns all of the stoex
2043. P Has 33.541 in of single track, including a line 22 miles long connecting
more City and Baltimore, Anne Arundel and Howard counties, Maryland:
Baltimore with the Maryland Steel Works at Sparrows Point, and^ extend
Baltimore Catonsville A Elllcotts Central Railway Co.
Gwynn's Falls Railway o f Baltimore ing beyond along the shore of Chesapeake Bay. where summer resorts have
Mills Passenger RR.
been established.
City.
.
Baltimore City Passenger Ry. Co.
STOCK AND BONDS—
Date.
Interest. Outstanding
Maturity.
Maryland Traction.
Baltimore Consolidated Ry. Co.
Pimlico A Pikesvillo RR.
Baltimore ft Curtis Bay Ry.
F leetm*ge) ,)f$2!lX)b.56ogold] 1903
4H g F-A 2,000.000 Feb l 1953
Balt. Gardensvllle & llelalr Elec. Ry. Shore Lino Electric Ry.
Baltimore « iNoruiorn r.iec Ity. u o. Walbrook Gwynn Oak A Powhatan
Mtlmore A Northern Elec ivy. Co. vvaiorooa
Also owns all the stock, and holds a lease of the Baltimore Sparrows
Point A Chesapeake Ry. Co.
., , , ,
R EPO RT.—Operation* included In United Ry*. A Elec. V. 80. p- 22i
Allied Company.— In Aug. 1906 the Maryland Elec.Ry.. which had agreed
(2) Baltimore Malethorpe & Elkrldge Ry.
. . . . .
____
to provldo funds for needed Improvements and acquisitions of the United
ORGANIZATION.— Incorp.
Stock.
R y. & Elec. C o., was consolidated with the Balt. & Annapolis Short Line, 1100 000- outstanding. $10,000. on Dec 28 1905 in Maryland. Fidelity
Has made a $300,000 intg (n tf) to
thus forming the Maryland Elec. Rys. See statement of that co. below.
Power Contract.— In Feb. 1911 entered Into a 15-year contract with Penn Trust Co of Baltimore trustee. 20-year 5% bonds p.do and Int . payable
Brown A
Rys. *
c
sylvania nnvui
supplying
conjunction with at AlexanderOwns 3.051Sons, Balt.; not guar,Isby United by United Rys. °■ IV R * Water & Power Co. for "'•Pl'V •* power In ~
V UR
*O
'
None out.
miles of road, which operated
St
**nlted Railways Co. for operation of cars. V. 92, p. 407.
„
United
92.
______
Elec C o.— V. 87. p 543.
.
Favorable Tax..Decision.—. On June „29 1909 the rt/ lln n a of rAppeals ui Mary
Court n Aupeaw of
.*
...................
• ■
n nr
„ ____ ______
l f b l n I'lH
land held that the park tax of 9% on gross earnings of linos within city
THE MARYLAND ELECTRIC RAILWAYS CO.
limits was Intended to he In lieu of all other taxes, and that no further tax
ORGANIZATION.— In 1906 the charter of the Maryland Elec. Ry. was
on the Intangible property can be levied without expross legislative author
lty. The easements In 14 milos of turnpikes in annexed districts wore held acquired by Interests friendly to the United Ry* A Klee, for the PuO>o*«»
among others, of using that company to finance the need* of the United Kys.
to bo taxable. V. 89. p. 44.
In April 1913 Judge Bond In the City Court at Baltimore decided that the k Elec Co. for additional property, and charter amended by Legislature in
comoany must pay cost of repaving streets between tracks and 2 ft. on 1906 to adapt It to that purpose. In Aug 1900 was consolidated with the
either side. See V 96. p. 1090. On Aug. 5 1913. the Court of Appeals of Baltimore A Annapolis Short Line, which latter line has since been electrl'led
The Maryland Electric Rys then acquired car barn sites terminals,
Maryland reversed the ruling and unanimously held that company s obll
gallon with respect to the track area was to ropair and not to re-pave. In Ac and Is erecting buildings, constructing extensions, purchasing equip
Fob. 1916 the same court again hold that co. Is roqulred merely to keep ment Ac., which la leased to the United Ry. A Electric Co. for an annual
rental of 0% upon the actual cost of the property
At maturity of the
Its tracks In repair.
$8,000,000 bonds of The Maryland Elec Rys.. the Uulted obligates Itself
In June 1914 the Maryland Court of Appeals, reversing the lower Court
held that the State Roads Commission cannot recover from the electric to purchase the property so leased at a sum sufficient to retire the bonds.
railway companies the cost of changing and re-locating tracks In building See olau In fu.l In V 83. p 160. There Is no guaranty endorsed on bonds,
but the terms are such that rental will be more than sufflclenlto pay inter
___
the system of State highways. V . 98. p 1995
est
Stock listed ou Baltimore Stock Exchange In Feb 1908
Wage Increases.— V. 106, p. 1345, 2759; V. 107, P-.292.
Fares.— In Aug. 1918 the co. announced that, effective Oct. 1 1918,
STOCK AND BONDS—
Date. Interest
OutstandtiW
Maturity.
faros In Baltimore and suburbs would bo increased from 5 cents to 6 cents.
V. 107, p. 907. Compare V. 107, p. 403.
SSSf-’ i J ’W iS S .-ia a j Mercantile Tr.«< Dop. Oo., Ball., P m
m
»v &
o S Trust©®.
(Si 000) sinking fundc*tf /
STO CK A N D BO N D S—
D a te .
In terest.
O u tsta n d in g . D iv .o r M a t.
flret I 1900 6 g F-A
1.000.000 Aug i 1946
Common. $35,000,000 ($50)............. 4 Q-J 15 $20,401,200 Ju ly ’.18.1% Baltimore & Annapolta C
m o r t g a g e . $ 1 .0 0 0 .000.- . t f ) Fidelity Trust Oo
Baltimore, trustee.
Prof, cum, $14,000,000 ($ 5 0 ).._
_
4 J-D
23.000 Juno 182%
)Interest at Alex Brown A Sons, Baltlm ire.
Inc rntge. g. $14,000,000.1 1899
4 g J-D
13.977.000
1940
Bonds.— A sinking fund of 1
on Maryland Elec Rv 1st mtge bondi
cum, Maryland Tr C o P a y a b le at option of co. after March 1 1949
out began Mar. 30 1910. $687,000 (lncl. In amount outstanding) held in
Trua ($1,000)______c * n tflln t. at Alex. Brown & Sons. Baltimore
1st con mtge, g. $38,000,000)
1899 4 g M-S
26.450,000 Mar 1 1949 gen. sink, fund Sept. 1 1918. Bonds are redeemable at 110 and Int. on any
Int. date upon 90 days’ notice. Int. payable at office of Alex. Brown A
($1,000); Continental H Interest at Alex. Brown A Sons, Baltimore
Trj
IncomeB
fdgbJ)nrds ($100. $500/ 1900
5 g J-D
3,920.000 June 1 1936
St $1,000). $3.920.000--ctflM aryland Trust Co., Trustee.
Gold notes. $2,750,000 (Sl.-f
1910 5 F-A
1,223.000 Fob 1 1921
0 0 0 ) red. all or part, at 101 lin t, at Alex. Brown & Sons. Baltimore
& Int. on 30 days notlcec*tf [Safe Deposit & Tr. Co Balt., rrustee.
Oonv gold notes. $5,750.0001 1917 5 & 6% F-A $4,527,000 Aug 15 1922
($100, $500. $1,000)___ c*\Int. at Alex. Brown & Sons. Baltlmoro.
U N DERLYIN G SECURITIES.
B a ltim o r e
T r a c t — 1st
rntge;]
1889 5 M-N
1.500.000 Nov 11929
($500,000) Trustee Mercan) Interest at Merchants’-Mechanlcs First
tile Tr & Deposit C o .e n tfl Nat. Bank. Baltimore.
N B Div 1st ($1,000) 5s. g;
1892 5 g J-D
1.750,000 June 1 1942
’ TrusM erTr&DepCo.cntf) Int. at Merch.-Mech. First Nat. Bk, Balt,
City & Suburban Ry Bonds— (
1892 5 g J-D
3.000,000 June 1 1922
1st mtge. g ($1.000)___ t flln t. at Alex. Brown & Sons, Baltlmoro
(Safe Deposit St Trust Co., Balt., Trustee.
Lake
R o la n d
E l e v a t e d — 1st
1892 5 g M-S
1,000,000 Sept 11942
consol
mortgage,
gold) Interest at Alex. Brown St Sons, Baltimore
($1,000)__________ c * « r t f l Baltimore Trust C o., Trustee.
Central Ry—Consol mortgage!
1892 5 g M-N
700,000 May 11932
$700 000. gold ($1.000)ntfJ Int at Merch.-Mech. First Nat. Bk.. Bi\lt
(Mercantile Tr. & Dop. Co. of Balt., Trustee
Ext and Imp 1st mtge.l
1897 5 g M -S
600,000 Mar 1 1932
$600 000, g ($1,000).ntf)B altim ore Trust C o., Baltimore, Trustee
5
lint, at Merch.-Mech.First Nat. Bk., Balt
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. Authorized amount of common stock was increased
from 824.000,000 to $35,000,000 in Sept. 1917 to provide for conversion
feature o f notes of 1917. Common stock listed on Baltlmoro aud PhlladelDhla Stock Exchanges. V. 96, p. 1631; V. 97, p. 667.
_
Bonds —Of the $38,000,000 o f 1st consol, bond* $29.450.000 have been
Issued fof which $3 ,000 001 are In treasury); $8,550 000 set aside to retire tin
deriving securities $23,000 Income mtgo. 4s are hold by trustoe to rotlro
the outstanding prof, stock. Income funding bonds are rod. on any Int.
S0DiMde«(LV Klrsf ‘dlvfdemM l X % ) was paid lu Jan 1907 and 2% was
—
paid July 1 1907 In 1 9 0 8 . Jan.. 1%; July, 1%; none since
ROAD.— Operates 25 3 miles of track from Baltimore to Annapolis which
has been converted to electricity. The co a Iso owns a good deal or track
age which has been built for and leased to the United Rys. A Elec. Co.
OFFICERS.—Chairman of board, John Wilson Brown: ITes., J. N.
Shannahan; V.-IV, T. C. Cherry; Sec. A Treas., Austin McLanahan: Gen.
Mgr C. D. Porter; Aud.,AAsst. Treas., G. S. Storrs.— V. 98, p. 1608.
1694. 1767; V. 105. p. 1419.
___________
B A N G O R , M E.
BANOOR RAILWAY & ELECTRIC CO.
ORGANIZATION.— Incorp. Feb. 16 1905 In Maine_and Is a consolida
tion of the Bangor Orono A Old Town Ry.. Bangor Hampden A Winterport Ry.. Public Works C o., Old Town Electric Co . Brewer Water Co.
aud Penobscot Water A Power Co. On Feb. 1 1907 purchased the Bangor
A Northern RR
V 82. p. 333. Owns the entire capital stock of the
Bangor Power Co., the Orono Water Co. and (with the exception of one
share) of the Bar Harbor A Union River Power Co. Owns and operates
the electric railway lines in Bangor and Brewer and the Hues connecting
Bangor, with Brewer. Hampden, o ld Town, Charleston and inter
mediate towns
Also the entire electric lighting and power business of
Bangor. Old Town, Milford. Bradley, East Corinth, Orono Brewer.
Hampden, Veazie, Kenduskeag and Orrlngton. with the exception of the
municipal lighting In Bangor, and furnLshes the water supply to Veazie,
Old Town, Stillwater. Milford and Brewer. In addition to the above the
company, through Its controlled companies, does the entire e l« 5tric lighting
and power business In Ellsworth, Blue Hill, Bar Harbor, Seal Barlwr. Atn
Also furnishes the water supply to Ellsworth and Orono. I opulation
served estimated at 65.000 (lncl. controlled cos.).
.
Franchises.— Franchise for about 8 miles of track In Bangor
In
1937; franchise covering operation of 2 miles of track In the cltr
wer
expires In 1940. All others are perpetual.
8
ELECTRIC RAILWAYS
STOCK AN D BONDS—
C om m on. $ 2 ,000,000 ($ 100) . .
Date.
Interest.
Outstanding.
Maturity.
Q -F
$ 2 ,000,000 A \ is'1 8 M %
Pref $1,600,000 7% cum($100)
1,600,00(1 Oct '18, 1H
is t c o M M ; B°)d ■U o b o .O o K i 1905
5 g J -J
2,000,000 July 1 1935
rn' ® j'000)---------- c* t o Guaranty Tru#
Oo., New York, Trustee.
Pub Wks Co, 1st,g old,$600,-1 1899
5rv
699.000 April 1 1929
000 ($500, $1,000)-. c*n tf lint, at Old C
Trust C o., Boston, Trus.
Bar Har & Un R Pow Co 1st A 1 1907
5 M-S
606 01*1 qBnt i 1936
606.000 Sept 1
_ re/'52.000.000($1.000)c*tf/Commerclal Trust Co. Phlla Trustee
4H M -N
100,000 May 1 1921
lstM $100,000 ($500) c n tffln t. at Portland Nat. Bank, Portland Me
B 5^,oUU,UU0 ($1,000)— c*tfJCentral Union Trust 1.310.000 Sept l ’ 1931
$2gl500S000erf<O°rin?pt “ H u n191,1 1 T
9e? te*£
Co N Y trustee
Orono Water Co, first m ort-f 1905
444 J-J
60 000 July i 1 9 2 6
notllnt. at Portland (M e.) Nat. Bank? Union
subject to call ($5Q0)-Cntf| Safe Den.A Tr. Co..Portland. M e.. Trus
, J 2 2 & < r V » fil? t C n® bonds aro secured by deposit o f all the stocks
0„ 01TTarhnr i S ^ o! of Prof-) an(l $386,000 1st & ref. ratge. bonds of the Bar
tt
nnHen ? i n? ? " River Power Co. They are subject to call on 60 days’
interest on any Interest date. Intorost at office of
York, or Eastern Trust & Banking C o., Bangor. See
ars’ *iontlA property, &c., V. 87. p. 1009. The Public Works Co.
Bsrt*fTsrnr!i°<LSTT>iect T?«ca,*V ' 89, p - 2456. $1,000 retired. $1,018,000
^
.V
MSfi
T Power Co. bonds have been issued, of which
under Ganger Ry. & Elec. 1st cons. M ., $16,000 are
Hpd o f ? £ „ a ‘ uncls by that company and $606,000 in hands of tho pubJ
U?’ .5?/ ^^n remiainder, .5100,000 are reserved to rotlro tho Bar Harbor
Electric Light bonds and $892,000 for extensions, A c.. at 85% of cost of
cal?at in? u 5r ? ^ U
r
!^n P' &.L; bJ ®anKor R y . & Elec. Co. and are suhlect to
x,ro^ui
5 9 on anT ,nt' *late on 60 days notice. Int. at trustee or
Merrill Tr. Co., Bangor; also at J. A W . Seligman A Co., N. Y . Trustee of
PnrtKnrtb M I^lec. IJ*ht Co. bonds Is Union Safe Deposit A Trust Co *
Portland, Mo. Of Bangor Pow. Co. 1st M . bonds, $750,000 Series A (all
J ? ] ; h®1,0
4 %atofScP4 1 1916: bear 4 44% to Sept. 1 1921 A 5% there
iafter to maturity. Series B. $1,750,000 auth. (Int.
S5f!0 non fssmsi
# t s ? 7 tSi f ™ t g ,f*Ild $1,190,000 reserved for extensions, betterments.' A c.
Banio?
°A 8anl, ’ , I"*- payable at office o f trustee and at office In
’0
S ?n g °I’ 5 ubJ- to call at 105 A int. on any int. date on 60 days’ notice.
N° s- f. Both series assumed by Bangor Ry. A El. Co.
i i M r i 7 n ? i !>«• annum paid on the old stock (all of one class) from
tinued to Oct. u n ii19?rk' 7 o i ? 7% . In 1911 stock was Increased was conPaid, which rate and new
unued
1910. In 1911*
pref. stock was created, on which 134 % has been paid anar. from Jan 1919
tp ? n Jncl. Oct 1918. On common Initial dlv. o f 44 % was paid M ay 1 1914
.d
and 44% has been paid quar. since to and incl. August 1918.
REPO RT.— For years ending Juno 30:
Y,
Gross
Net (after Interest, Pref. Dio. Balance,
,
“ ’
Earnings. Taxes).
Ac.
(7% ).
Surplus.
1917-18.......................$910,855 $371,355 $234,003 $105,000 $32,352
1916-17------------------- 862,877
374,164
zz i ,‘u i
iud .uuu
47 998
221,471
105,000
47,693
Revenue passongers carried in calendar year 1917, 7.001,884; transfer and
t S E E J T S I,assonBcrs’ 579,426. In 1916, revenue prussl o lso .lT s
transfer and non-rovenuo pass., 709,654.
’
’
.r.?o )iKD^r"i0pcrs^m P6’ 4,6 IPUe3 of slnglo-trcak equivalent. Ralls, 48
£ars°'7b; n l £ < £ nd T.standard gauge. 57 pass, and 21 freight cars. 3 gravel
7
12 ?r»n ifr 'J P f ^ T s J ,SIlr
.’
o?^ er and ? mlsc- 3 hydro-electric plants with
^ • “ 60 *£-w. (of which 1,525 k.w. can be operated either by steam or water)
capacity and 1 steam station developing 600 k.w.
CnnF^ S .EIl 9 - ^ P^es”u E ’ 9 ;, Ryder; V .-P., Frank Silliman Jr.; Y.-P. &
p£!VJ^grT’ E -T Grabam; Clork & Treas., Howard Comings; And., C. A.
^l146o! T ’ 107 jF s o T mana8omont of E - w - Clark & Co.— V. 106, p. 497,
BARRE, VT.
MONTPELIER & BARRE LIGH T & POWER CO.
— Incorp. in Mass, on N ov. 12 1912 and owns 91%
2n
o
s.t0c.k o f the Barre A Montpelier Trac. A Power Co. Also owns
»]r a f ® , u f I b e Consolidated Lighting C o., Vermont Power A Ltg Co
Molly s Falls Elec. Lt. A Pow. C o., and Watertmry Lt A Po w. C o!■ also
, f Corry-Deavitt-Frost Elec. Co. Supplies electric light heat and
o
$ 1
a
rS
F« , ' S 1 , “
5 5 “ d ln
a" ° r WashinKton County,
S 3 & 5 SloViSh 5 L ,& W t§!cB*^.% '! „M?5 lr " or “ a
«ta,1
"
a T a a S S i . . . 0 !" :
O“ “ o o o o o 8 ,
Matur,“
Pref $3,810,000 ($100) cum...............
6 % ........... l .'^ 7 600 J u ly "l8 'i 44
lst/ . ^ fn
u"d„m tge $2,500,000/ 1914
5 g A-O
479,400 Oct? 1 1 9 4 4
($100 A $1,000)— c*A r*tf(ln t. at Amer. Trust Co., Boston Trustee
Barre A Montp Trac 1st M g( 1897
5 g M-N
100 000 Nov 1 1 0 4 7
subh^t°to(^ ? P each)’ t" ° £ j Int- at American Tr. C o ..’ Boston, trustee7
Consolidated Lighting"Co................... 5
J-J
700.000 Jan 11926
Vermont Power A Ltg C o . . . ............. 5
M-8
400 000 Mar 1 109 7
M-S
115 000 Mar 1 1 91 0
Co rry-DeavItt-Frost El C o ................ 6
Waterbury Light A Power C o--------5 M -N
94.000
See text
Stock. $2,473,800 pref. stock is reserved for conversion o f 1st ref
mortgage bonds. Tax-freo in Massachusetts.
’
/Jds.— The above bonds of light and power companies are assumed
K ! j ? k Mon 1)8 #r A Barre Light A Power Co. $250,000 of the 1st ref.
3 became convertible at holders' option Into pref. stock at par on Mar 1
) P ',
1 1918 327,600 had been so converted. $257,000 addlno51a!,bondK 1 B become convertible into pref. stock at par on Mar. 1 1921.
nnn*' hnnuTb° 8at 493 ant! *!fc’ on ainy *nt’ date on 4 weeks’ notice. $1 .149,
® 1 101 onds a5e reserved to retiro underlying bonds and $844 000 for
additions and Improvements at 75% of cost.
$205 000 Consol
Ltg. Co. bonds and $97,000 Vermont Power A Ltg. Co bonds aro hold In
sinking funds (Incl. in amts, reported outstand.). Tho Waterbury Lt A
N ov°i
roaluro $6,000 yearly to N ov. 1 1921; then $7,000 yoarly to
N ov' l iQ ?7'n„7h Barr? & ,I .I
V,0Jltfl®'icr TracN ov. 1 1917 but were extended for 20 years. 1st M . 5s originally fell due
Dividends.— A dlv. of $2 60 was paid on the pref. stock Apr. 1 1 9 1 3
rn® 5 “ Ontbs from date or organization on N ov. 12 1912 to April 12
1913, $1 50 paid July 15 1913 and $1 50 quar. since to and Incl. July 1918
EARNINGS.— For years ending Dec. 31:
1 o i v C‘ 3 1 Y r s - ~ G r 2 s J :(’ r ™ ‘
ts
T oL N ct ln c -
In t. A
R e n ts.
B a l. fo r D io
\Q\Z........................ $401,237
$203,755
$104,109
$99 640
1916--------------------- 369,638
208.769
98,601
110,077
PR O PE R T Y .— Power plants have an aggregate capacity o f about 14 7 7 5
wk?«Vand 4 ’302,ih ’p ’t n addition is available by contract; 11,450 h p is
rL n
CniiO t>r‘
W
steam plants, under normal conditions, aro held largely
fth m ifl nnns 30 “ Ues pf transmission lines; undeveloped water power of
ab°ut 4,000 h.p. capacity. The Barre A Montpelier Trac. A Power Co
Gluge94 ft.m ^ Sinf traCk between Barre
7
8
Montpelier. 58-lb. T rail!
1«P v Fh ° Ea
K
£ h ' o f Bd. o f Directors, C. II. Tenney: Pres , H. T. Sands
Treas'"1 i ’ s ' n j T X 1C ?rk: ha ,P- wppd: Treas.. E. A. Bradley; Ass?.
9
1 . Aud., H. A GIdney. Under management of Charles
1
H. Tenney A Co., Boston.— V. 104, p. 2015; V. 105. p. 1999
B ATO N R O U G E E L E C T R IC C O .
,oi?Jl(? AI? IZ.A,T ! , ° ^ ’, A c.— Organized In Louisiana; does entire electrU
railway, electric-lighting, power and gas business in Baton Rouge. RailV?88f,p n881,e 8X res 1940: Kas 1942- electric-lighting and power, 1988
13
STOCK AND BONDS.
Date.
Interest.
Outstanding.
r n n ^ at 10o i™Fr,°Ten,ents’ ,MayJbe
a
runa) w ’ i nrd and Int. on any int. day.calIed •,n wholo (or 1%part for sink,
Sinking fund of In nor >inn nf
canable>ns"'b0? 4 i l Ee*?; * J9 14. $19,500 canceled. Tho 2-voar notes are
n
fn t^easu^
m t* ° n 30 daysJ notico- S22.600 aro held
I n
h
a l ' d
3 % ,s --a- from Dec. 1911 to and incl. Juno 1918.
In 191 s!1j'une,2|%
®ftld DeC’ 1915’ In 1916- 7 %- In
$%•
| EARNINGS.— For 12 months ending Juno 30:
2
1917-TlT
Neti a
/,tS "I^ e3■ Interest. Sink.Fund. Suridus.
$119,280
$39,272
$5 035
$74 9 7 4
iS — ...........$245,509
1916-17-------------- 222,152
114,334
37 917
ri'non
vvnov
ROAD.— Operates 6.23 milos of track In forin of a single belt, through
B*OFF?OF1l^ 9 C
iVoL stfi?dard gauge. Power station capacity. 1,500 k.w.
\.bi> ’ERS.— Pres., Harry H. Hunt; V .-P., Edw. Godchaux- 8 ec
£ /^ ? \ * 5 , T odd; Treas.. Henry B. Sawyer; Gen. Mgrs., Stone A Webster
Mgt. Assn., M gr., I. Maxwell Stover.— V. 101. p. 1806: V. 104, p. 1488.
„
Maturity
BEAUMONT, TEX.
EASTERN TEXAS ELECTRIC CO.
tn^>
?5rA^ IZ^ T r° ? f '^rInc9rp- in Texas in July 1918 as a consolldatia* of
p ^ J wFi onT<
?°.IinJy 1^
rractlp.n C o-- Beaumont Elec. Light & Power Co
Llf?,1t A l ower Co. and Beaumont Traction Co., all o f whose
stoclts had been owned by tho Eastern Texas Electric Co. (of Me ) a'hold!nL Cr F , any- V. 107 p 695. Does tho entire electric light and pow< busi*
Tio^frv!n . eaumont and Port Arthur, the entire electric railway business in
•r !iniw .f and operates an Intcrurban electric railway between Beaumont
V0
and 1 ort Arthur, a distanco of 20 miles. Light anil power franchises in
Beaumont expire in 1963; in Port Arthur in 1943 r a ilw a y ? r a n ^ in
dght ofw a y XPlrCS U1 1961: lnterurban railway almost enti?elyon private
K J n Aug. 1918 issiied $750,000 3-yr. 7% notes to retiro $500 00# 3-vr
C
1J l 8
18w( t
for payment at par and int. OcCH)
“ I d d i t S S t ? “ S S < £ : ■ ° “m ! “ 9 0 5 r“ 1 ce ' l' > a t , w ' “ * 1 i,>c‘ n' ' "
v
“
o S
K
a S i :
D al‘: W iS S
.
Pref cum $1,450,000 ($100)._______
6
400 00 J’ i y ’ lS 3 ^
Sl, JJO aK° g°- Id _ c Ar tf_ ,. Int.12* St<ito M -N
r0 0 m - — - - _ W
l > 1? < Q « * St. Tr. 1,423,500 Nov trustoo
f 1942
5
)
vt
Go., Tlostou
Coupon notes SI .000,000 gold/ 1918
7 g F-A
750 ( Of) Am? 1 1 0 9 1 '
($100, $500 A, $1.000).c*tf Int. at State St. Tr. Co? Boston T rlrt 4
i 1
'
t 1.
9 at t 5 8 A' °
5()00,000 (eall at 105)-. ^tf (Int.03. Interstato Tr. S 272,000Cor, Trustm
c Bank. April ? 1 9 ? 3
Stock.— I ref. stock is callable at 110. $50,000 hold in trust for benefit
of company (tn addition to amount shown aiiovo)
h e t ^ ^ T n ^ ^ r^ ed a I1,01,nt of, b
S
,?.nds D t bmited. Additional bonds may
,
o
7r l 4 i l i ? ‘ of acquisitions, Impts.. add’ns, Ac., under certain
i
restrictions. Callable as a whole (or In part for sk. fd.) at 105 and hit
$ 5 0 0 0 anf
rm ulH n^n0 vdno-tion
a5 d * 5 0 0 and registered bonds or
ahin
P Q 7 ’ ? 5, pL 1 7 4 ^-,T.be 3' yoar coupon notes are redeemS
fi
ab*o aa a whole on 30 day s notico at 101 and int. prior to Aug. 1 1920 and
4 9 9 and int. thereafter.
No further bonds may bo issued during the
not(^f Vh^ 0 7 ° p
te905n °SS th° proceeds aro applied to tho retirement of
Dividends.— 6% is being paid on pref. stock. Initial div.— 2 % — 0 0 old
Jidy, 2 t f POra 0n WaS paid 1,1 July l91°- 1,1 1J17, 5% ; in 1918, Jan.,2^ %
<
EARNINGS.— For 12 months ending Juno 30:
1 n
®
et(nft-tax.) Oth.Inc. Interest. Sink.Fund. Surplus
I ' - 51'
'
*f?5.891 $21,105
$135,602 $15,099 $ 3 2 ®
o95,ol‘t
410,572
4,004
110 01(S
K von
70A
u i o 1 /----PROPERTY AND PLANTS.— Combinetl capacity of power stations
A r t t S ’rv>d Pn l
ArAhur>
k’w-:Powor Is also supplied to Port
Arthur Trac. Co. Capacity of ice plant at Port Arthur, 75 tons per day.
Miles of equivalent single track, 29.79; trackage, 2.04 standard gauge3 9 P ^ r “ " d < other cars. The 20-mllo electric railway betw^n?Beaumont
M st- A“ " - : M " r -:
B E N T O N H A R B O R , M IC H .
BENTON HARBOR-ST. JOE RAILW AY & LIGHT CO.
• Incorpqrated in Michigan In Jan. 1906 and Is a con-“
S “ d5». a t .° L ? i h Rive?Traction C o.6' J° 8ei,h B'eCtr,C R j ' & Ught ° 0 ’
C on ^ on K (3 i00)B° N D 8'
D° U'
In tM
Maturity.
Preferred. $400,000 (SlOOj.II I I I I
o'F-A
400 000 '"S e e T e iti
m^ V , 2A ^ ’00<) gold 1909 5 8 M-N
499:.500 Nov 11939
($500 and $1.000)---------- cj Interest at Colombia Tr. Co Loulsv trust*
IStl7nri ami finnni000, B ld|f 1906
°
5 * M-N
825,000 Nov i 1935
u ir'fc9
a*?^.?k’0 )? 4J --;-- 5 >c i Int- at; Columbia Tr. C o., Loulsv. trustee
8 H A 8 J Bl Ry A L 1st M ,f 1900
5 g M-S
ion non Sant 1 10911
$200,000. jnlJ ($1.000).. . { i n t at Am. Tr A Sav. Bank Chic? tn.st^.
the * l -9 9 9 -0 0 0 1 st consolidated bonds, $ 1 2 0 ,0 0 0 are rerK
tire RjIST Fens.
They are subject to call on any Int. day at
i 9®'. Ths bds. of the old co. after 1910 have a sk. fd. of $10J)00 per ann
but bonds cannot be called. See V. 71, p. 1208: V. 72 d 2 8 2
Of the ref'
bonds $! 000.008 aro reeerved for prior liens
P' J'
the rof'
k AR ^i<
Ti'r-aPrek d,V8’ at rate or 0 % per annum are being paid.
? e a e NINGS.— 1-or years ending Juno 30:
June 30
Oper.
Net (after Other Interest, Pf.Divs. Balance
1917-18*508 56U «Tia*oV« f n c o w e - (6 % ).
Surplus.
1016 17------------ -$90,189 $24,000
$5,000
----^---- 486,051
132,833
468
91.039
24 0 0 0
IK •»•
>» >
HnJhn)Dw'i7h)petate^ 1 0 -3 r n>nes or slnglo track in St. Joseph and Beriton
Fiarbor,|with extensions of 25 miles through Eau Olalro to Dowaglac ami
kk't 3 “ i.®?
3
,a so operates 4.73 miles second track, 5.7 miles
mU^f9' Rn'7 nnl s ? i m 0^ <
f*sfld i'JS’ n!,a’{lnB total mlloage operated, 60.12
O F > ri% R q nC r i b f g r^ 0 r ft 1 rat,s ’ . 44 passenger and 34 other ears.
P
iO ild
k 8 ’*TPr^e >1 ’ IS’ Mlnary. Benton Harbor, Mich.; V.-P., Hen
,9
ning Chambers, Louisville, Ky.; Sec., L. W. Botts, Louisville.— V.82.p.,333.
„
B ID D E F O R D , M E.
BIDDEFORD & SACO RR.— A trolley road.
ORGANIZATION.— Incorporated Feb. 19 1887.
8to7k°(l™ )X
Xim nnnNDS
Dale‘ A-O
Jntere.st. Outstanding.A n r 'lg F
Maturity.
otoca (5.TU) $100,000------------ -------1100 (100
ive
l8t
1300-000 ($1,000) ( 1900
4 g J-D
lSO'oOO June l i o t o
cauLfhi 1 0 2 0 f bUt “ “ b°i Interest at Fidelity Trust O0: Portland?
cauea in 1920.-------------- tf I M e., trustee.
7 i i ^ ^ T „ “ 'T .D
.urln{< years end. Juno 30; 1900, 4% ; 1907-09, 5% ; 1910,
i n^?nge< t08’ a;)= 941 and 1912, 5% : 1913 and 1914. «% : 1915. 8%
(
I 9 I 8 Aprila5% SPCC a d ,v* 0f 20% on Aug’ 1 1916’ In 4917, 10%. In .
EARNINGS.— For calondar year 1917 and years ending June 30:
1
4
1017
' BATON ROUGE, LA.
[Vo l . 107.
r
9 o ? s? ; „
I n t., A c .
D iv id e n d s .
S u r p lu s .
|9}7 .......................$85,417
$24,661
$8,446
$10,000
$6 215
9
................. 74,534
20.102
7,849
10.000
2.313
l9 J o z 5K - - r r - - - . 72o222..
j4
20.037
8.110
8.000
3 921
OrclmrdD Beacfteratea 8 ra 68 ° f track between 8aco- Bkldeford and Old
O FFICERS^President. O. H. Prescott. Blddeford; Secretary and
Treasurer. E. F. Lord.— V. 70. p. 1048: V. 73, p. 404.
y anu
B IN G H A M T O N , N . Y .
SCRANTON & BINGHAMTON RY.
RgeieersMp—Default.— In Juno 1918 V.-P. R. w . Day andYdirector
1S^$?00tga'^9* wi n n i " 0 i 9 «9
5*F-A
506'.500 Feb®
C. It. Bedford of the Binghamton Ry. wero appointed receivers of tlm
g S -fft o f n B4n*bamton Ry. upon application of Binghamton Ity'.fdue to
($500 A $ 1.000)...................} Int. at Old Colony Tr (^ ° ° B ^ b . trustee 1
1
K ; ~ O T Tnnn 5refi ls cumulative from June 1912. Redeemable at 110- $2?900,00(?^^ ^ tfnd^ du e?fn*?960?® V^ l°06??pr245d? G Jun° F 1918 Wo 1tbo
Committce for S. A If.Jtis.— Chairman, G. Tracy Rogers;
W
1or’°,)0i bo,' ds- not Incl. in amount outstanding, are in treasury o f
company; remaining bonds may bo Issued at not to exceed 80% of cost of
iL r P n W 1 L o
P^e” m 2 5 b t o O ° m M £ 0 )................
S
V rV —
*300.000 J u „ f l 8 4%
O R G A N I Z A T I O N . — I n o o r p . In D e l a w a r e O c t . 1 5 1 9 1 0 .
O w n s o n tlr e
s t o c k o f t h e S c r a n t o n & B in g n a m t o n K B . a n d h a s a s s u m e d Its b o n d s
T h e S c r a n t o n * B in g h a m to n K B o w n s 9 9 % o f th e s t o c k o f th e B in g h a m
t o n R y . th e e n tir e s t o c k o f S c r a n to n & B in g h a m to n 1 fa c t io n C o ., a c o n
t r o l l i n g I n t e r e s t In t h e N o r t n e r n E l e c t r i c R y . a n d o v e r o n e - h a l f o f t h e b o n d s
o f t h e N o r t h e r n E l e c t r i c S t r e e t R y . ( w h o s e s t o c k Is o w n e d b y t h e N o r t h e r n
E le c tr ic R v .) .
T h e N o r t h o r n E l e c t r i c S t r e e t R y . Is l e a s e d f o r 9 0 0 y e a r s
fr o m J u ly 1 10 1 0 t o th e S c r a n to n & B in g h a m to u T r a c t io n C o ., w h ic h h a s
a s s u m e d t h e f o r m e r '* b o n d e d d e b t ,
„
„
.
....
B ares — In S e p t. 1 9 1 8 file d w it h t h e P e n n a . P . S . C o m m , a n e w t a r iff
I n c r e a s in g f a r e s In z o n e s in a n d o u t o f S c r a n t o n , t h e m i n i m u m c h a r g e in
S c r a n to n b e in g a d v a n c e d f r o m 6 t o 8 c e n ts . V . 1 0 7 , p . 1 1 0 2 .
ST O C K AND BONDS—
D a te .
In ter es t.
O u ts ta n d in g .
M a tu rity .
_______ _______
__________
$ 6 ,0 0 0 ,0 0 0
-----------------------S tock
000 000
S c r a n . & B l n g B B S 1 0 .0 0 0 ,0 0 0 1 1 9 1 0
6 J -D
o
2 .9 0 0 0 0 0 J u n e 1 I 9 6 0
g ( $ l 0 0 0 , 8 5 0 0 * $ 1 0 0 ) --C * | In t. a t A n t h r a c it e S . B k ., W ilk e s -B a r r e , tru s
N o r t h e r n E le c S t R y $ 1 ,2 0 0 ,- 1 1 9 0 7
5 J -D
1 .2 0 0 .0 0 0 J u n e 1 1 9 5 7
0 0 0 ( $ 5 0 0 a n d $ 1 ,0 0 0 ) - . c * J I n t . a t A n t h r a c i t e S . B k . . W i k e s - B a r r o . t r u s .
H a n d s .— S c r a n t o n & B i n g h a m t o n R R . b o n d s a r o c a l l a b l e s i n c e J u n e 1
1 9 1 5 a t 105 a n d h it.
N o r t h e r n E le c . S t . R y . b o n d s a r e r o d . a t 1 0 5 a n d in t
S in k in g fu n d o f $ 1 0 ,0 0 0 p e r a n n u m b e g a n D e c . 1 1 9 1 2 .
.
E A R N I N G S . — O r t h o c o m b i n e d p r o p e r t i e s f o r 1 2 m o s . e iK l I n g J u n e .10
1 9 1 7 , g r o s s , $ 1 ,0 0 9 ,6 1 4 ; n e t . $ 3 7 4 ,7 1 7 .
I n 1 9 1 6 , g r o s s , $ 8 8 6 ,7 4 2 ; n e t.
l U ) A D . — 1 6 m i l e s In o p e r a t i o n b e t w e e n S c r a n t o n a n d M o n t r o s e , w i t h a
b r a n c h t o L a k e W in o la .
T h o r o a d a s p r e l e c t e d w ill e x t e n d t o B i n g h a m
to n , N . Y .— V . 100, p . 1833; V . 106, p . 2451; V . 107, p . 182, 1102.
( 1 ) B i n g h a m t o n R a i l w a y C o . — A t r o , 'o y r o a d .
‘
T h e S c r a n to n & B in g h a m to n B R . o w n s 9 9 % o f th e s t o c k .
O R G A N I Z A T I O N .— Is a c o n s o lid a t io n S e p t . 3 0 1901 o f th o B in g h a m to n
R R . C lo . ( c h a r t e r e d A u g . 11 1 8 9 2 a s a c o n s o l i d a t i o n o f a l l s t r e e t r a i l w a y s In
c it y ) a n d th o B in g . L o s te r sh lr e * U n io u R R .
P r in c ip a l fr a n c h is e s g r a n te d
b y s p e c ia l A c ts o f L e g is la tu r e , a n d a re p e r p e tu a l a n d p r a c tic a lly e x c lu s iv e .
STO CK A N D BO N D S—
D a te .
I n ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k ; $ 1 , 1 5 0 , 0 0 0 ( $ 1 0 0 ) ----------- . . . .
4 F -A
* 9 7 8 ,9 9 6
S ee te x t
B in g h a m to n
R R
C o
m tg o / 1893
5 g J -J
*1® v
^ n 6 t ^.x t
$ 9 0 0 ,0 0 0 , g ( $ 1 . 0 0 0 ) . - C * t f l i n t , a t M e t r o p o l. T r . C o . , N . Y . , T r u s t e e
B i n g L e s t & G n 1st M
$ 2 5 0 .-f 1895
5 K J -D
1 4 7 .0 0 0 J u n e 1 1 9 2 5
000
g o ld ,
p r in c ip a l a n d ( I n te r e s t a t M e t r o p o lit a n 3 r u s t. N e w Y o r k
i n t e r e s t <rtiar
tf
B in g h a m to n T r u s t C o .. T ru ste e .
B i n g R y 1 s t c o n s o l m t g e , $ 2 ,-1 1 9 0 1
5 g M -N
1 ,6 8 4 ,0 0 0 N o v 1 1 9 3 1
5 0 0 ,0 0 0 g o l d ($ 1 ,0 0 0 ) c * t f { I n t . a t F id e lit y T r u s t C o . . B u ffa lo . T r u s t e o .
o r S e a b o a rd N a tio n a l B a n k . N e w Y o r k .
E q u ip tru st c c r t lf ( $ 9 0 ,0 0 0 )-.
1915
.
« p -A .
1 o ? L ? 00l o ,
B o n d s .— . T h e b o u d s o f 1 8 9 3 m a t u r e $ 5 , 0 0 0 y e a r l y 1 9 1 0 t o 1 9 1 7 . $ 1 0 , 0 0 0
y e a r ly fr o m S e p t . 1 1 9 1 8 t o 1 9 2 2 a n d b a la n c e S e p t . 1 1 9 2 3 .
O f t h o B in g
h a m t o n R y . 1 s t c o n s o l, m t g o ., e n o u g h a r o r o s o r v e d t o r e tir e u n d e r ly in g
b o n d s a n d th o r e m a in d e r fo r a c q u is it io n s , e x t e n s ., & c ., u n d e r c a r e fu l
r e s tr ic tio n s .
T h e y a r o s u b je c t t o c a ll a t 1 1 0 a n d in t .
E x e m p t fr o m N . Y .
S t a t e , c o u n t y a n d m u n ic ip a l p e r s o n a l p r o p e r t y ta x e s .
See V . 73, p . 1312;
V . 78
p . 701; V . 88, p . 748.
T h o e q u ip m e n t tr u s t c e r t ific a t e s o f 1 9 1 5
m a t u r e 8 5 ,0 0 0 s e m i-a n n u a ll y .
T h e y a ro s e cu re d b y 2 0 d o u b le -tr u c k c a rs ,
C° f ; l r f c / e n 1 8 - 2 %
i
w u p a i d J a n . 3 1 1 9 0 2 ; 2 % M a r . , 3 1 9 0 3 ; 2 % A p r i l 11
1 9 0 4 a n d 2 % A p r il 10 1 9 0 5 .
A s c r i p d i v i d e n d o f 2 0 % w a s p a i d A p r i l 18
1 9 0 .1
In 1906 to 1910 in c h . 2 ^ % y e a r ly .
In 1 9 1 1 , S e p t .. 3 % .
In 1912
and 1913. 4 % .
In 1914. F ob . 2 % .
N o n e s in c e .
R O A D — O p e r a t e s 4 9 .2 5 m ile s o f t r a c k .
C on n ects
B in g h a m to n
w ith
J o h n s o n C it y , H o o p e r , E n d lc o t t , U n io n a n d P o r t D ic k in s o n .
S ta n d a rd
g a u g o . 6 0 - lb . t o 1 0 3 -lb . T a n d g ir d e r r ia l; 7 5 m o t o r c a r s a n d 2 7 t r a il c a r s .
E A R N I N G S .— F o r y e a r e n d in g D e c . 3 1 :
•Vpnr___
G ross.
N e t.
In t. & T a xes.
S u r p lu s .
1017
$ 7 0 5 ,0 3 0
$ 2 4 2 ,9 2 5
$ 1 6 0 ,9 5 3
$ 8 1 ,9 7 2
i o { « ....................
6 5 1 ,5 2 7
2 4 4 ,8 7 2
1 4 2 .3 3 7
1 0 2 ,5 3 5
l a i n ............... ........................................ 5 4 6 .3 0 0
2 1 0 .0 2 0
1 3 0 .2 0 1
7 9 .7 5 9
O F F I C E R S . — P r o s . F . L . F u l l e r : V .-P .. R . W . D a y ; V .-P . & D o n . M g r . ,
O . S . B a n g h a r t; S e c .. W . H . H e c o x ;T r e a s , E
M . W h ite ,
o r f i c e , B in g
h a m ton , N . Y .— V . 99. p . 269; V . 100. p . 980; V . 106. p . 2122.
B IR M IN G H A M , A L A .
B IR M IN G H A M R Y . L IG H T & P O W E R .
C o n t r o lle d b y th e A m e r ic a n C itie s C o . (s e e u n d e r
N e w O r le a n s " ) , w h ic h
o w n s 8 9 .6 2 % o f th e c o m m o n a n d 7 9 .3 5 % o f th e p r e fe r re d s t o c k .
O R G A N I Z A T I O N .— C o n s o lid a t io n o n J u n e 13 1901 o f t h e B ir m in g h a m
G a s C o . , th e C o n s o lid a t e d E le c t r ic L ig h t C o . a n d t h o B ir m in g h a m R y ..
L ig h t & P o w e r C o .
O w n s a n d o p e r a te s t h o o n tlr e s tr e e t r a ilw a y , g a s ,
e l e c t r i c - l i g h t a n d p o w e r a n d s t e a m h e a t b u s in e s s o f B i r m i n g h a m a n d a ll t h e
p r in c ip a l n o a r -b y c itie s a n d to w n s , in c lu d in g B r ig h t o n , B a s so m o r, B o y le s a n
I r o n d a l e - a n in „ e r u r b a n li n e a b o u t 1 2 m il e s o f w h i c h is in o p e r a t i o n , f r o m
E a s t L a k e t o E n s l e y a n d P r a t t C i t y ; d o e s t h o c i t y l i g h t i n g in B i r m i n g h a m ,
B e s s e m e r a n d B r ig h to n .
F r a n c h is e s c o v e r l u g g a s , e le c t r i c - lig h t a n d p o w o r
b u s in e s s a n d s t r e o t r a ilw a y lin e s a r e , w it h s o m e u n im p o r t a n t e x c e p t io n s ,
s ta te d t o b e p e r p e tu a l.
H a s a c o n t r a c t w it h th o A la b a m a P o w e r C o . b y
w h ic h t h e la t t e r fu r n is h e s o le c t r ic lt y fo r o p e r a t in g th e r a ilw a y s a n d a ls o fo r
H u h t a n d p o w o r s e r v t c o in B ir m in g h a m .
U n d e r t h is c o n t r a c t t h o c o m p a n y 's
s t e a m s t a t i o n is h e l d a s a r e s e r v e p l a n t .
V . 98. p . 1691.
I n A p r i l 1 9 1 7 a c q u i r e d t h o s t o c k o f t h o B l r r a l n g h a m - T t d e w a t o r R y . in
c o n s id e r a t io n o f t h o g u a r a n t y o f t h a t c o m p a n y ’s b o n d is s u e , p r in c ip a l a n d
,D B n ^ i n c r e a s e R e j e c t e d .— I n J u l y 1 9 1 8 t h o v o t e r s o f B i r m i n g h a m d e f e a t e d a
p r o v is io n a u t h o r iz in g th o c o . t o c h a r g e a 6 -c o n t fa r o .— V . 1 0 7 , p . 9 0 5 .
STO CK A N D BO N D S—
Date.
Interest. Outstanding.
Maturity.
C o m m o n ( $ 1 0 0 ) . $ 3 , 0 0 0 . 0 0 0 ------------J -D
$ 3 ,9 0 0 ,0 0 0
See te x t.
P r r f ( * l ( W ) $ 3 5 0 0 .0 0 0 6 % c u m . . . .
J -D
3 .5 0 0 .0 0 0 D e c 17, 3 %
B ir m in g h a m R y &
1st M g [ T 1394
5 g J -J
8 1 9 ,0 0 0 J u ly 2 1 9 2 4
*1 2 5 0 0 0 0 ( $ 1 . 0 0 0 ) _____ c * I n t . a t C e n t r a l T r u s t C o . . fc r . Y .
B ir m ln g N o l m 'b i e c t to c a l l .
I
T r - & S a v . C o . , B ir m in g h a m , T r u s .
G en
M
ref
$ 1 0 ,0 0 0 ,0 0 0 .
1904
4 .4 g A -O
8 ,7 2 0 .0 0 0 A p r il 1 1 9 5 4
c o l d ($ 1 0 0 0 )
__________ c * I n t . a t C o m m e r c i a l - O o r m a n i a T r . & S a v . B k . .
g o ld c u .c u u ;- j
N e w O r l., T r u s ., o r a t N .Y . T r . C o . , N . Y .
R e f & o x te n M S 2 5 .0 0 0 .0 0 0 f 1 9 0 7
6 g M -N
4 .7 3 4 ,0 0 0 M a y 1 1957
($ 1 0001 g o l d s in k . f u n d . c * { I n t e r e s t a t O ld C o l o n y T r u s t C o . . B o s t o n ,
,\ 0 i s u b i e c t t o c a l l .
1
T ru stee, an d N . Y . a g en cy o f co m p a n y .
N o t e s $ 2 0 0 0 0 0 0 ( $ 1 .0 0 0 ) - -C * 1 9 1 7
6 A -O
1 .3 1 2 .0 0 0 A p r l 1 9 1 9
B o n d s ._ O f t h e n e w $ 2 5 ,0 0 0 ,0 0 0 b o n d s , $ 9 ,5 8 0 ,0 0 0 a r o r e s e r v e d fo r p r io r
_
li e n s . S i ’ 2 0 0 0 0 0 f o r t h e c o s t o f n e w p o w e r h o u s e I f f i r s t lio n o n s a t n o , a n d
$ 9 ,4 8 5 ,0 0 0 fo r 8 0 % o f th e c o s t o f a d d it io n s if
t h o n o t e a r n in g s a r e 1 4
t im e s t h e i n t . o n a ll b o n d s o u t s t a n d i n g , I n c l. t h o s e t o b e I s s u e d , a n d p r o v i d e d
1 0 % o f g r o s s e a r n in g s h a v e b e e n e x p e n d e d f o r m a in t e n a n c e w it h in p r e v io u s
12 m o n th s.
T h e d ir e c t o r s m a y m a k e t h e r a t e o f I n t . o n s u c c e e d in g In sta ll
m en ts n o t to e x ce e d 6 % .
S in k in g f u n d o f 4 o f 1 %
of bouds ou t began
S e p t. 1 1918.
B o n d s p u r c h a s e d t o b e h o ld a li v e a n d lu t . t h e r e o n r e in v e s t e d
F o r d e t a i l s o f b o n d s , p r o p e r t y . S e c ., s e e V . 8 7 , p . 1 6 0 3 .
O f th e gen
M . of
1 9 0 4 , n o m o r e b o n d s c a n u e is s u e d .
S in k in g fu n d o f 4 o f 1 % o f D on d s o u t
b e g in s A u g . 1 1 9 2 4 .
T h e b o n d s a r o s u b . t o c a l l a.t 1 0 5 & i n t . o n a n y i n t .
d a y o n 60 d a y s ' n o tic e
F o r 1 s t 5 s o f 1 8 9 4 $ 1 2 , 5 0 0 p e r a n n . is p a y . i n t o
a s in k in g fu n d ; $ 4 0 1 .0 0 0 h a v e b e e n c a n c e le d .
1 h o 2 -y o a r n o te s a re ro d . a t
1 0 0 4 a n d In t. o n 3 0 d a y s ’ n o t ic o .
I n t o r e s t p a y a b l e in N o w Y o r k .
R om a ln ln g n o te s a r o r e s e r v e d fo r o x t s .. I m p r o v e m e n ts , & c . V . 1 0 4 , p . 1 1 4 4 .
D i v i d e n d s . — F i r s t d i v . o n p r e f . s t o c k , o f 3 % . p a i d In J a n . 1 9 0 2 . a n d 3 %
s . - a . t h e r e a f t e r t o a n d I n c l . D e c . 1 9 1 4 ; In J u n e 1 9 1 5 , n o n e ; D e c . , 3 % .
In
J u n o 1916. 3 % a n d 1 % on a c c t. o f a rrea rs; D e c .. 3 % ; J u n e 191 7 , 3 % a n d
1 % o n a c c o u n t o f a rrea rs; D e c ., 3 % .
O n c o m . s t o c k In 1 9 0 3 . 3 % ; i n 1 9 0 4 ,
4 % ; In 1 9 0 5 , 4 % ; in 1 9 0 6 , 5 % ; in 1 90 7 a n d 1 9 0 8 , n o n e ; 1 9 0 9 . 2 % ; 1 9 1 0 ,
5 % ; 1 9 1 1 . 7 % ; 1 9 1 2 , 8 % ; 1 9 1 3 a n d 1 9 1 4 , 6 % ; n o n e s in c e .
R E P O R T .—
d ross
N e t a fter
In terest a n d
S u r p .J o r
Y ea r_
_
E a rn s.
T a xes.
O lh . d e d u c t i o n s , r e n e w . . A c .
1 9 1 7 ....................................$ 3 , 6 5 5 , 8 9 4
$ 1 ,3 0 6 ,4 4 1
$ 8 3 0 ,0 8 8
$ 4 7 6 ,3 5 3
1 0 1 0 ...................................... 3 : 4 0 4 1 0 4
1 .1 9 1 .7 7 0
811 4 1 2
3 8 0 .3 5 8
R O A D . — O p e r a t e s o v e r 1 5 0 8 1 m . o f s in g l e t r a c k in c it i e s o f B i r m i n g h a m .
B e s s e m e r a n d in J e f f e r s o n C o u n t y .
I t is r e p o r t e d t h a t t h o c o . w i l l b u i l d
a lin e c o n n e c t in g V ln e s v ille a n d F a ir fie ld .
S ta n d a rd g a u g e.
A ll b u t 2 6
m ile s 7 0 t o 1 0 0 -lb . T g ir d e r r a ils .
O w n s 2 5 0 p a s s e n g e r , 5 8 fr e ig h t a n d 2 5
m is c e lla n e o u s c a r s .
T o ta l, 3 3 3 .
„
•
».
,,
_
.
O F F I C E R S .— P ro s. & G e n . M g r ., J . S . P o v o a r , B ir m in g h a m ; V .- P ., L e e
O
B r a d le y ; S e c . * T r c a s ., J . P . R o s s : A s s t . S e c . & A s st. T r o a s ., N . H .
H a w k in s .— V . 1 0 4 . p . 1 4 8 8 , 1 5 9 0 , 1 7 0 0 ; V . 1 0 6 , p . 8 1 8 , 2 5 5 9 ; V . 1 0 7 , p .
.
9
ELECTRIC RAILWAYS
Se p t ., 1918.]
500, 905.
B lr m ln g lia m -T id e w a te r R a ilw a y C o .
O R G A N I Z A T I O N . — A r e o r g a n i z a t i o n In 1 9 1 7 o f t h o B i r m i n g h a m
& B e s s e m e r R R . a s p e r p la n N o . 1 In V . 1 0 1 . p . 1 0 1 3 .
T h e com
$ 3 2 5 000 s t o c k w a s tr a n s fe r r e d t o th o B ir m in g h a m R y ., L t . & P o w e r
c o n s i d e r a t i o n o f t h e l a t t o r 's g u a r a n t y o r t h o p a y m e n t o f p r i n . a n d
t h is c o m p a n y ’s b o n d s .
„
,
E n s le y
p a n y 's
C o . in
in t. o f
BONDS—
Date.
Interest. Outstanding. Maturity.
First mtgo $4,000,000 goldl 1916 5 g J-J
$1,500,000 Jan 1 1946
($500 and $1.000)______c*|Int. at Empire Trust C o.. N. Y ., trustee.
The bonds are red. on any int. date at 101 and int. They are guar.,
p. & 1., by the Birm. R y.. Lt. & Power Co. V. 104, p. 1700.
ROAD.— Owns and operates 19.162 miles of 1st main track. 12.145 miles
2d main track. 0.805 miles sidings, &c., 0.676 miles mlsc.; total, 32.788
miles. 85-lb. steel rails; standard gauge. Has 25 P-A-Y-E steel coaches.
26 dump cars, 3 flat cars, 8 misc.cars. 1 Baldwin locomotive and 1 ten-ton
crane. V. 104. p. 1700.
______
B L U F F T O N , IN D .
MARION & BLUFFTON TRACTION C O .— A trolley road.
ORGANIZATION.— Incorp. in Indiana June 1914 as a reorganization
of tho old Marion Bluffton & Eastern Trac. C o., sold under foreclosure in
Feb. 1914. The old company was placed in receivership as a result of
a head-on collision on July 7 1912 in which four persons were killed and 60
or more injured (V. 95. p. 297).
.
Fares.— In M ay 1918 was auth. by the Indiana P. S. Comm, to increase
faros from 2 to 2 4 conts per mile, mileage books to be sold on a basis of
2 cents per mile and commutation books at 1.56 cents a mile. V. 106, p.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $216,000 ($100).................... _______
$216,000 ---------------1st M gold $504,000 ($1,000)/ 1914 5 g J-J
504.000 July 1 1934
Sink, ft1. 1% per annum. Hut. at Fletcher Sav.& Tr. C o., Indlanap.,Tr.
EARNINGS.— For cal. year 1915. gross, $111,254; net. $35,304.
ROAD.— Operates 32 miles of track between Marion, where connection
is made with Union Trac. Go. of Indiana lines and Ind. Rys. & Light C o.,
and Bluffton, Ind., connecting there with Fort Wayne & Northern Indiana
Trac. and Union Trac. Co. of Indiana. Standard gauge. 70-lb. T rail.
OFFICERS.—Pres., James W Sale; V.-P., Abram Simmon; Sec. * Act
ing Gen. M gr., James S. Clark; Treas., J. S. Gilliland.— V. 106, p. 2345.
BLUFFTON OHNEVA & CELINA TRACTION
consisting of 19 miles of track on private right of way
and Geneva through Vera Cruz and Linn Grove, was
sale on Oct. 13 1917 to Thos. Flinn for $118,000. At
dismantling of tho line was under way.
B O IS E C I T Y , ID A H O .
BOISE VALLEY TRACTION CO.
C O — This road,
between Bluffton
sold at receiver s
last accounts the
_
... l n . „
C ontrolled through stock ownership b y tho Idaho Power C o . (V . 104. p .
1148 ), all o f whose com m on stock except directors' shares Is In turn owned b y
the N ational Securities C orp. (V . 100. p . 1673. 2010). T he T rac. C o. owns
In fee all the railway property o f the old Idaho R y .. L t. * Power C o . except
the Boise R R . C o .. Ltd. (now the Boise R y ., V. lOft, p. 715). There
remain* outstanding against the property the following issue o f bonds:
BONDS—
Date. Interest. Outstanding. Maturity.
Boise & Int 1st M $5,000.0001 1906
5 g A-O
$1 J)20.000
1946
g ($ l,0 0 0 )s f&sub to ca ll.c& rfln t. at Colonial Trust C o ., P ittsb., T rustee.
R O A D .— 69 miles single track equivalent o f Interurban lines and 11 miles
o f city lines; tota l, 80 miles.
B O ST O N , M ASS.
BOSTON ELEVATED RAILWAY.
O R G A N IZ A T IO N .— Chartor granted In 1897 provides for an extensive
system o f free transfers.
_
,
. ,
On April 29 1903 leased from the Old C olon y Street R y . (now merged In
the Bay State St. R y.) all that com pany's tracks ln the city o f B oston,
amounting to 23.753 miles. The lease is for 99 years and provides that
besides paying taxes the Elevated C o. will pay 6 )4 % o f replacement value
(appraised at $353,979. less the rental o f certain short pieces o f track
appraised at $13,866) o f the property leased as or date Feb. 16 1903. and
4 % on th cost o f all additions and bettermonts.
Lease of West End.— T he West End Street R y . Is leased until June 10 1922.
Consolidation with West End Street Bn.— In July 1911 Massachusetts
Legislature passed an A ct (signed by the G overnor on July 21 1911) super
seding that approved M ay 28 1908 (V . 86. p . 917. 1342 ). permitting the
consolidation o f Boston Elev. and W est Ena St. R y. at the expiration of
the present lease, on June 10 1982 . 8 % cum . 1st pref. stock o f Bost. Elev.
(having the ordinary voting powers, but not entitled to participate In any
Increase or lssu eof new stock, com . or p r e f."). t<» be issued, $ for 5 for West
End pref. and 7 % cum . (or 8 % if arbitrators so decide) 2d prei (having
all voting powers without exception) for com . stock o f W est End. After
the Issue o f the new prof, shares no other stock to be Issued "p rior or equal
to such 1st pref. and 2d pref. stock without the consent o f two-thirds o f the
holders o f such stocks, respectively." T he A ct also provided that the Street
R y. forthwith sell to the Elevated C o . all unused real estate, the proceeds
n o t exceeding $ 1 ,500,000 to be Invested as a «pedal trust fund and to accu m
ulate until June 10 1922. Thereafter the annual Income thereof shall be
applied to cancellation o f 2d pref. stock. When all the 2d pref. has been
retired then said fund shall be applied b y the Elevated R y. C o . to any
purpose for which stock and bonds can legally be issued. See terms o f A ct
In V. 93 p. 344. Shareholders o f both the Boston Elev. and W est End S t.
R y. approved the A ct; the former on Aug. 24 1911 and the latter on Sept. 6
1911
V 93 p. 666. Holders o f W est End com . and pref. stock may on
or before June 10 1922 exchange their stock at par for Elevated R y . co m m o n .
After June 10 1922 holders o f Bost. Elev. 1st or 2d pref. m ay exchange
their stock for an equal amount at par o f Bost. Elev. com m on.
On Sept. 5 1911. In a suit brought to test the constitutionality o f the
Merger A ct, Jadge C olt In U. S. District C ourt sustained th ed em u rrerof
the W est End St. R y . and dismissed the suit to prevent the merger. V . 95.
p 618
New suit brought by a W est End shareholder ln France on D ec. 31
1913 (V . 98. p. 74) also dismissed.
.
.
, .
. ^ .
Subways.— in D oc. 1896 tho West End 8treet R y . leased the right to use
tho Trem ont S t. subway ln Boston. See terms under West End Street R y .
On Dec. 24 1904 the East Boston tunnel (under Boston Harbor) was
leased by tho Boston Elevated R y. until June 10 1922 for a rental o f H o f 1%
of earnings o f all lines owned, leased or operated. T h e com pany also co l
lected a toll o f lc . per person, which went to the city, but tolls were a bol
ished Feb. 8 1916 by an Act permitting the city to assume them each year
by act o f the C ity Council appropriating sum sufficient to cover int. and
skg. fd. requirements for the year. The tunnel was opened Dec. 30 1904.
It extends from the main land to East B oston, 1.4 miles, and cost $3,500,000.
On June 28 1902 Wasnlngton Street Subway Dill became a law. T he city
constructed a tunnel for elevated trains and leased same to the Boston
Elevated R y. for 25 years at an annual rental o f 4V$% of total cost o f con -
1477
In June 1906Pthe M ass. Legislature passed a law perm itting the Boston
E lev. to construct tw o subways ln Cam bridge, and to Issue stock or bonds to
meet the cost. At the end of 20 years the city o f Cam bridge Is to have the
right to purchase those subways by paying their cost plus 7% int., loss d iv i
dends
V . 83. P- 93. On Jan 4 1912 the first through train was run In the
now subway: It was opened for public travel Mar. 23 1912. V. 94. d . 1185 .
New Construction of Subways and Old Contracts Extended.— in July 1911
Mass. Legislature passod an A ct (accepted by the city and Boston E lev.
In Sept. 1911) providing for the construction by the city o f three additional
subways, viz., Dorchester Tunnel, Boyiston St. Subway and East Boston
Tunnel extensions, and the extension o f all existing contracts until July 1
1936 the date to which contracts for new lines are to run. Annual rental
after' expiration o f old contracts to be as follow*: T rem ont St. Subway
(see under W «*t E nd). 4 )4 % on net cost; East Boston tunnel (now expiring
June 10 1922). 4 !4 % on net cost (provision for tolls from passengers using
the tunnel eliminated for extension period); Washington St. tunnel (now
expiring N o v . 30 1933), 4 )4 % on net cost. Annual rental for new lines:
Cam bridge connection, for first 20 years, 4 H % on net cost; thereafter 4 )4 %
on net cost; Dorchester and Boyiston tunnels and East Boston tunnel ex
tension. 4 )4 % on net cost. T he Act also provides that all contracts are to
continue after July 1 1936 until terminated by a two-years notice by either
party. T he various new leases and extensions o f old leases were signed by
tho parties thereto on D ec. 7 1911. V . 93. p. 1785.
.
T ho new B oyiston St. rapid transit subway on which work was begun
Mar. 8 1912, was opened for traffic O ct. 3 1914 from the Trem ont St. sub
way. near Charles S t,, and the Public G a r d e n s w estw ard to ward B rook lino, 1 U miles. T h e subway cost the city about $4,500,000 (V 99. p.1213).
The extension o f the East Boston Tunnel, on which construction was begun
N ov. 29 1912. was opened March 18 1916. permitting an 18-minute schedule
from Central Square, Cam bridge, to M averick Square. East Boston. Esti
mated expenditure on this p roject, $2,400,000. V . 102, p . 1058. Construe-
10
ELECTRIC RAILWAYS
t l o n o f t h e D o r c h e s t e r T u n n o l , w h ic h is t o b e a n e x t e n s i o n o f t h e C a m b r l< l« e
s u b w a y , w as begu n on M a y 30 1012.
T h e o n e r a tio n o f ca rs t o th e B r o a d
w a y S t a t i o n In S o u t h B o s t o n w a s b e g u n o n D o c . 1 5 1 9 1 7 , a n d t h e B r o a d w a y - A n d r e w S q u a r o s e c t i o n w a s o p e n e d f o r t r a f f i c o n J u n o 2 9 1 9 1 8 . I t is o x p o c t e d t h a t t h e c o i n p l o t e d t u b e w i l l b e in o p e r a t i o n b o f o r o e n d o f 1 9 1 8 . O n
A p r i l 4 1 9 1 5 t r a in s b e g a n o p e r a t i n g t o W a s h i n g t o n S t a t i o n , j u s t e a s t o f t h e
S u m m e r a n d W in te r s ta tio n s o f th e W a s h in g to n S tr e e t T u n n e l, a n d o n
D e c . 3 19 1 6 t o S o u th S ta tio n U n d e r , a t D e w e y S q . a n d S o u th T e r m in a l
K K . s t a t io n .
C o s t o f th J a t u n n e l w i t h o u t e q u i p m e n t is e s t i m a t e d a t u p
w a r d s o f $ 9 ,8 0 0 ,0 0 0
E v e r e t t E l e v a t e d E x t e n s i o n .— T h o E v e r e t t e l e v a t e d e x t e n s i o n a n d b r l d g o
i n c o n n e c t i o n t h e r e w i t h in A p r i l 1 9 1 8 w e r e e x p e c t e d t o b o c o m p l e t e d w i t h i n
a year.
P ^ r n a g es b y N o is e .— In A u g . 190 2 J u d g e .M a s o n , in th e S u p e r io r C o u r t
a t B o s t o n , h e l d t h a t t h e c o m p a n y is l i a b l e f o r d a m a g e s f r o m n o i s e c a u s e d
b y t h e o p e r a t io n o f t r a in s .
V . 75, p. 496.
T h is w a s a ffir m e d A p r il 1903
b y M a ssa ch u setts S u p re m e C o u r t.
V
76, p. 809.
P u b l i c M a n a g e m e n t a n d O p e r a t i o n — S e r v i c e a t C o s t .— O n J u n e 3 1 9 1 8 t h e
s h a r e h o ld e r s o f th o c o m p a n y a n d th e W e s t E n d S t. R y . a c c e p t e d th o A c t
p r o v id in g fo r p u b lic o p e r a t io n w ith s e r v ic e a t c o s t a n d a fix e d r a te o f re tu rn
o n t h o c o m p a n y ’s c o m m o n s t o c k , t h u s s o lv i n g it s fin a n c ia l d if f ic u l t ie s
(c o m p a r e V
102, p . 2 0 7 6 ; V . 104, p . 2 4 5 0 ).
A c e r tific a te a c c e p t in g th o
A c t a n d e v id e n c e t h a t $ 3 ,0 0 0 ,0 0 0 n e w p r o f, s t o c k h a d b e e n s u b s c r ib e d fo r
b y t h o s t o c k h o ld e r s a s p r o v id e d th e r e in w e r e file d w it h t h o S t a t e S e c r e ta r y
la te r n th e m o n t h .
V . 106, p . 2227, 2344, 2755.
T h o A c t w e n t in t o e ffe c t
J u i y 1 1 9 1 8 a n d p r o v i d e s s u b s t a n t i a l l y a s f o l l o w s ; ( 1) R o a d t o b o m a n a g e d
b y f iv e tr u s te e s , a p p o in t e d b y t h o G o v e r n o r ; (2 ) P e r io d o f p u b lic o p e r a t io n .
10 y e a r s o r l o n g e r , a t o p t i o n o f C o m m o n w e a l t h ; ( 3 ) T r u s t e e s h a v o p o w e r t o
r e g u la t e fa r e s a n d tr a n s fe r p r iv ile g e s , a n d d e t e r m in e c h a r a c t e r a n d e x te n t
? f S0
J*yi c e : ( 4 ) C o m p a n y t o r a i s e $ 3 , 0 0 0 , 0 0 0 b y s a l o o f p r o f , s t o c k a t n o t
l e s s t h a n p a r , $ 1 , 0 0 0 ,0 0 0 t o b o u s e d a s a r e s c r v o f u n d a n d $ 2 , 0 0 0 ,0 0 0 f o r
a d d n s & im p t s .; (5 ) E a rn s m u s t b o s u ffic ie n t t o m e e t c o s t o f s e r v ic e , p r o f,
d lv s . a n d c o m . d iv s . a t r a t e o f $ 5 a s h a r e fo r fir s t 2 y o a r s , $ 5 5 0 fo r n e x t •
>
y e a r s a n d $6 d u r in g b a la n c e o f p e r io d o f p u b lic o p e r a t io n ; th e fir s t p a y m e n t
ns t o b o m a d e 6 m o s . a f t e r c o m m e n c e m e n t o f p u b l i c o p e r a t i o n ; ( 6 ) T r u s t e e s
s h a ll a d o p t a s c h e d u le o f 8 d iffe r e n t g r a d e s o f fa r e s , o f w h ic h 4 s h a ll b o
b e lo w a n d 4 a b o v e r a t o o f fa r o fir s t e s t a b lis h e d ; s c h e d u le s h a ll b o in c r e a s e d
w h e n e v e r f a r e is c h a n g e d , s o t h a t t h e r e s h a l l a l w a y s b o n o t le s s t h a n 4
g r a d e s a b o v e a n d 4 b e l o w t h o e x i s t i n g f a r o ; (7 ) W h e n e v e r i n c o m e is i n s u f f i
c ie n t t o m e e t c o s t o f s e r v ic e , t h o r e s e r v e fu n d s h a ll b o d r a w n u p o n ; i f m o r o
t h a n s u f f i c i e n t , e x c e s s s h a ll b o t r a n s f e r r e d t o t h e r e s e r v e f u n d ; ( 8 ) I f o n la s t
d a y o f J u n o 1 9 1 9 o r o n la s t d a y o f a n y S e p t ., D e c ., M a r c li o r J u n o t h e r e
a ft e r , r e s e r v o fu n d e x c e e d s b y 3 0 % o r m o r o o r ig in a l a m o u n t , a n d in c o m e
d u r in g p r e c e d in g 3 m o s . e x c e e d e d c o s t o f s e r v ic e , n e x t lo w e r g r a d o o f fa r o
s h a l l b e a d o p t e d ; o f r e s e r v e f u n d 10 le s s m a i 7 0 % o f o r ig i n a l a m o u n t , a n d
i
is
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(111r i n g p r e c e di* n g 3 m nc . i n c o m e w a s le s s *h.la nt v ) v os 4u io fu n e ri v .iac ie ,a m eoxu, n h ,i• a■ ea
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9 f . aa r o s h a l l b o a d o p t e d .
I it rOCOPirn f u n d lo nK/\.rn /\m b e lou a u aci.1n 1R..utes ; t o 9 ) 0re e c r e r v o af u n dinis
fimrl is a b o v e o r l»„lo w s o l iim !.__ / 0 I f .. e s c a s e - o r , .
---------! d
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i n s u f f i c i e n t t o m e e t d e f i c i e n c y in c o s t o f s e r v i c e , S t a t e s h a ll m a k e u p t h e
7 ? Xl0 1 * ,a n d a s s e s s s a m e u p o n c itio s a n d t o w n s in w h ic h t h o c o . o p e r a t e s ;
U U ) A t e n d o f p e r io d o f p u b l i c m a n a g e m e n t a n d o p e r a t i o n , r o a d r o v e r t s t o
b o a r d o f d i r e c t o r s , w h o m a y c o n t i n u e t o o p e r a t o s a m e o n s e r v i c o -a t -c o s t
p ' a ” - £ n d p a y S.6 a
c o m - d i v s -: ( 1 1 ) S t a t e h a s o p t i o n o f t a k i n g o v e r t h e
r o a d b y a s s u m i n g li a b i l i t i e s , a n d p a y i n g in c a s h a n a m o u n t e q u a l t o t h a t
p a id in b y t h e s t o c k h o l d e r s ; a l s o S t a t e m a y t a k e o v e r W e s t E n d S t . R y i f
la t t e r h a s a lr e a d y b o o n m e r g e d in to B o s to n E le v a te d , t h e W e s t E n d p u r
c h a s e p r i c e t o b e a n a m o u n t in c a s h e q u a l t o a m o u n t p a id in b y c o m . s t o c k
h o ld e r s o f W e s t E n d p lu s p a r v a l u o o f t h o p r o f , s t o c k .
I n J u n e 1 9 1 8 th o f o l l o w i n g w e r o a p p o i n t e d t r u s t e e s u n d e r th o
I u b l ic O p e r a t io n A c t ” : C h a i r m a n , L o u is
A . F r o t h in g h a m , G a lo n L .
e
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V
1 0 0 ' p ‘ 2 7 T V iV
V
V 0 7 l e r - s o ' 1"
F ' S t 0 v e n s a n tl s t a n l ° y
N e w E q u ip m e n t— I n v e s t m e n t i n P r o p e r t y 1 9 1 1 -1 9 1 6 .— S e e V
i n J u n e 1 9 1 8 th o M a s s . P . S . C o m m , a p p r o v e d t h o p u r c h a s e
e n t r a n c e m o t o r c a r s a n d 1 0 0 t r a ile r c a r s .
V . 106, p . 2449.
P a r e I n c r e a s e . - — In J u l y 1 9 1 8 a fa r o in c r e a s e f r o m 5 c e n t s t o
tiv e A u g . 1 1 9 1 8 . w as a n n o u n ce d .
V . 107, p. 180, 2 9 0 , 40 0 ,
HtoX°Vo1 oRnniinV.^inm—
a
Date. Interest.Outstanding.
M i l l e r ( S e c .) .
. 104, p. 862.
o f 2 0 0 co n tro .
7 c o n t s , e ffe c
500.
M atuity.
S t o c k $ 2 3 , 9 5 0 , 0 0 0 ( $ 1 0 0 ) - ......................
Quar
$ 2 3 ,8 7 9 ,4 0 0
S ee te x t
P r o f s t o c k , 7 % c u m ( $ 1 0 ° ) ..................................................
* 3 ,0 0 0 ,0 0 0
____________
D e b e n tu r e s , g o ld — c & r .n t f i
1905
4 g M -N
8 .5 0 0 .0 0 0 M a y
1 1935
r-. .
.
lO ld C o lo n y T r u s t C o . . B o s to n
R e g is tra r.
^
D U r e S ,g 0 ( -------- 1 0 0 7
414 A -O
4 .8 0 0 .0 0 0 O c t
1 1937
D e b e n t u r e s .g o I d ...c * & r * .n t f
1911
414 M -N
5 .0 0 0 .0 0 0 N o v
1 1 9 41
D e b e n t u r e s g o ld
c*& r*_n tf
1912
5 J -D
8 .2 8 6 .0 0 0 D e c
11942
N o t e s p a y a b le M a y I 19 18
......................................
3 2 0 4 .0 0 0
. _______
a i o c * .— 1 h e p r o f , s t o c k o u t s t a n d i n g w i l l b e s u b j e c t t o t h o 1 s t a n d 2 d p r o f.
tc> b o is s u e d in e x c h a n g o f o r t h e p r o f, a n d c o m . s t o c k o f t h e W e s t
h J1? ,
uf i o n c o n s o l i d a t i o n in 1 9 2 2 .
I t is p r o p o s e d t h a t s t o c k s h a ll
b e s u b j e c t t o r e t i r e m e n t a t 1 0 5 a n d d i v s . a n d in l i q u i d a t i o n r e c e iv o 1 0 5 a n d
d
M?9 , p ’ a ^ 4 4 .
L is te d o n B o s to n S to c k E x c h .
V. 1 0 7 , p . 4 0 0 .
. V7T. . H e c o u p o n b o n d s a r e In d e u o u i l u a u o u s o f $ 5 0 0 a n d 5 1 ,o 0 0
( e x c e p t 1 9 1 1 is s u e , w h ic h a r e fo r $ 1 , 0 0 0 o n l y ) , a n d r e g is t e r e d b o n d s o f all
Issaes a r e In d e n o m i n a t i o n s o f $ 1 , 0 0 0 . $ 5 , 0 0 0 . $ 1 0 , 0 0 0 a n d $ 5 0 , 0 0 0 .
in
D ec.
1908
th e
M a ssa c h u se tts
R a ilr o a d
C o m m is s io n
s a n c t io n e d
$6,650•OOO.addltlonal'stock (rateing^stot^lto sTS^SO.OlM) at*$11 O^ot share*
t o d e f r a y t h e c o s t o f the Cambridge subway and for the construction of the
3f V
M V no 1 1 rl, 1 nlmrn ea/1 11,,
(1
7
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1 0 7 n <- 'a.r n b r i d g e in ni di W e s t » un u c l e v, a t™d uiu r a .
V . 8 7 . p . 1662, V . 8 8 . p
In D e c
1 9 1 2 I n c r e a s e d I ts s t o c k f r o m $ 1 9 , 9 5 0 , 0 0 0 t o $ 2 3 , 9 5 0 , 0 0 0
a n d O ffe r e d s t o c k h o ld e r s th e r ig h t t o s u b s c r i b e fo r n e w s t o c k a t $ 1 0 5 per
“h are.
V ■9 5 . p 1272; V . 9 6 . p . 6 1 .
In i o m
I
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In 1 8 9 9 , 5 H % .
y j . , 1.9 0 0 ; 4 X % ; In 1 9 0 1 . 5 H % ; In 1 9 0 2 t o 1 9 1 3 I n c l u s i v e . 6 % y e a r l y : fn
W 4 r a t e w a s r e d u c e d a n d In F e b . 2 % w a s p a i d .
In J u ly 1 9 1 4 it w a s d e
c i d e d t o p a y d i v i d e n d s q u a r t e r l y ( V . 9 9 . p . 3 4 1 ) a n d in A u g . 1 1 4 % w a s p a i d
N o v ..114% .
In 1915. 5 1 4 % .
In 1 9 1 6 . 5 % .
In 1 9 1 7 , F e b . / l { ( % ; M a v
whd
1 Ji 7 f : N o Y - d i v - p a s s e d ( V . 1 0 5 , p . 1 8 9 7 ) .
A s to p a y m en ts
w m l , u n d e r p u b lic c o n t r o l, se e re m a rk s a b o v o .
i n J ^ E V ° { r T ;7 7 .l < e p o r t ° r
D e c 31
V
106, P ‘ 1569’
B o sto n
E l e v a t e d R y . f o r y e a r e n d i n g D e c . 31
F is c a l v e a r C h a n g ed in 1 9 1 7 b y L e g is la tu r e to en d
Y ea r en d .
6 M o s . e n d .' — Y e a r s e n d i n g J u n e 3 0 —
„
„
D e c . 31 1 7 . D e c . 31 T 6 .
1916.
1 91 5
R e v e n u e m i l e s r u n ............. 5 9 , 4 5 5 , 6 9 3
2 9 .8 3 5 ,5 0 3
5 8 .5 7 2 ,3 0 8
57 8 0 5 6 9 5
RCE a r n i n g s —
‘ c a r r i e d - - 3 8 1 , 0 1 7 -3 3 8
1 8 9 ,4 1 5 .1 5 8
3 6 3 .4 7 7 .0 4 1
3 4 6 ,3 1 6 .5 8 4
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.
M a ils , r e n ts , a d v ., & c _ _
1 9 .0 0 8 .0 5 2
1 3 4 .4 8 2
9 .4 4 4 ,5 2 1
3 5 3 ,3 5 9
1 8 .1 2 6 .2 4 7
5 6 0 .7 2 5
1 7 ,2 6 9 .0 3 4
5 2 9 ,5 7 4
T o t a l ........................
N e t e a r n i n g s ________
M is c . in te r e s t, & c _ .
1 9 ,1 4 2 ,5 3 4
6 ,1 8 6 ,7 5 2
8 4 ,5 3 1
9 ,7 9 7 ,8 8 0
3 ,1 6 7 .1 5 4
4 3 ,7 6 4
1 8 ,6 8 6 .9 7 2
6 ,6 0 6 ,9 7 6
9 4 .2 5 6
1 7 .7 9 8 .6 0 8
6 ,5 1 0 ,6 2 4
8 7 ,9 4 2
6 ,2 7 1 ,2 8 3
3 ,2 1 0 ,9 1 8
6 ,7 0 1 ,3 3 2
6 ,5 9 8 5 6 6
9 2 8 ,5 0 0
5 5 4 ,1 0 6
3 2 6 ,3 9 7
4 3 8 .9 7 0
2 9 0 .1 3 6
1 5 9 .7 9 4
8 2 ,7 8 6
9 3 ,2 9 2
7 2 6 .5 8 0
4 ,5 9 0
3 5 ,2 4 9
5 3 1 .7 1 9
33 094
1 7 8 .0 3 2
3 5 .4 8 0
4 9 ,4 0 0
3 5 ,5 2 5
1 0 4 ,3 6 1
4 ,6 4 9
8 6 7 .1 9 6
5 3 6 ,8 7 1
3 4 3 ,8 1 3
1 5 8 ,8 0 1
1 8 4 .6 8 7
1 ,4 5 3 .1 6 0
9 .1 8 0
6 9 ,8 2 5
1 ,0 0 4 ,6 2 5
6 5 .0 5 3
3 5 5 .5 6 8
6 8 ,0 5 7
2 8 ,3 5 7
7 1 ,0 0 8
2 0 7 ,5 1 5
1 3 ,8 4 6
8 1 9 .7 9 2
5 4 6 .7 9 3
3 7 1 ,1 0 7
1 5 1 ,2 8 9
1 8 3 .9 2 9
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9 .1 8 0
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-.-
T o t a l _____________________
D e d u c tio n s —
In t. on W est E nd d e b t ..
T a x e s , W e s t E n d ________
T a x e s , B o s t o n E le v a te d
T a x e s o n e a r n i n g s ________
R e n ta l o f s u b w a y ..
D iv s . on W est E n d s to ck
D iv s . on S o m . H orse R y .
M i s c e l l . le a s o r e n t a ls
I n t .o n B o s .E l.f u n d .d e b t
I n t. o n u n fu n d e d d e b t
W a s h ’to n S t. tu n n e l ren t
E a s t B o s to n tu n n el ren t
do
do
e x t. ren t
C a m b r ’g e C o n n e c . r e n t.
B o y is to n S t. s u b w . r e n t .
M i s c e l l a n e o u s _____________
183", 9 5 8
1 ,4 8 3 ,8 5 7
9 ,1 8 0
7 1 .3 6 6
1 ,0 8 7 ,0 4 1
8 7 ,5 3 1
. 3 5 6 ,6 2 2
7 1 .3 6 6
9 9 ,6 0 8
7 1 ,1 0 5
2 1 0 .8 4 0
1 2 ,2 9 9
70*859
1 5 0 .3 8 2
4 ,5 8 8
T o t a l d e d u c t i o n s ______________________ 5 , 5 5 3 87 7 7 6 5 7
2,, 0 3 ,
5 ,4 9 7 ,5 6 2
5 ,2 7 4 .3 4 7
B a ia n c e
....................................
7 1 7 ,5 0 6
4 0 7 ,2 6 1
1 ,2 0 3 ,7 7 0
1 ,3 2 4 , 2 1 9
D i v i d e n d s ............................... ( 3 1 4 ) 8 3 5 , 7 7 9
(3 )7 1 6 .3 8 2 (5 ) 1 ,1 9 3 ,9 7 0 ( 5 IS ) 1 3 1 3 3 6 7
S u rp lu s o r
d e f i c i t -------- d e f . 1 1 8 , 2 7 3
d e f.3 0 9 .1 2 1
s u r .9 .8 0 0
s u r . 1 0 ,8 5 2
R oa d D e c . 31
_ .
,
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M ile s .
M ites
( 1 4 . 8 5 2 “ R " ) . 2 4 7 . 7 5 6 O w n e d b y W e s t E n d ____________4 2 8 2 5 2
81d a J d & ” <a a o o o “
at
Total
- ? J : 27 ? : 8 4
L e a s e 9 >t r k ^ ” & c - ( 3 » - 4 8 4 “ R " ) 1 0 3 . 9 2 0
(iu c l. 3 9 .4 8 4 “ R ” ) . .5 3 2 .1 7 2
T o t a l ( in c i . 3 9 .4 8 1 " R ” ) . . 5 3 2 .1 7 2
b
[Vol. 107.
Weight of girder rails is 70 to 150 lbs. Cars. 3.723; horses, 214: olnetric
motors, 8,081; snow-plows, &c., 281; snow sleds, 620; misc., 664. In June
1J18 was auth. by tho Mass. P. S. Comm, to purchase 200 centre-entrance
motor cars and 100 cars of the trailer typo. V. 106, p. 2449
OFFICERS.— Pres., Matthew C. Brush; V .-P., Charles S. Sergeant;
Troas., Henry L. Wilson; Sec., Ilonry S. Lyons; V.-i>. & Gen. Aud.,
8 o , W m t f ' s o o 6, p ‘ 168812227123441244912559’ 2755; v - 107’ pCompanies Controlled by Boston Elevated Railway Co.
(1) West End Street Railway.— A trolley road
7beased t0 Boston Elevated Ry. until June 10 1922
at 7% on common and 8% on preferred In addition to the payment of
■6" als-J nterest at?d other charges. Elevated assumed possession Jan. 1
I
1898. See terms in V . 65, p. 1223. Consolidation authorized with the
Boston Elevated Ry. See particulars under latter company.
In Dec. 1896 leased the right to use the Trernont Street subway at 474%
of its net cost, 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. See
Bust. Kiev, for extension of contract and new construction.
On Apr. 2 1917 11,694 shares additional common stock wore sold at auc
tion in 8 lots at prices ranging from 51 % to 52 K . V p 104 1389
in Jan. 1918 the Mass. P. S. Comm. auth. tho issue of $375,000 bonds
to repay the Boston Elev. Ry. in part for purchase of 50 new cars and
equip
costing $402,367. V. 106, p. 398. Tlieso bonds were Issued
and the co. can now obtain no further capital until it may be possible to
dispose of additional capital stock at not less than par.
State Control Adopted.— Seo Boston Elev. Ry. above: also V. 106, p. 2451.
In July 1918 issued $1,581,000 6-yoar 7% bonds to refund a like amount
of bonds due Aug. 1 1918. V. 107, p. 503. Compare V. 106. p. 2451.
STOCK AND BONDS—
Date. Interest. O u t s t a n d i n g
Maturity.
7 A-O
$14,029 8 5 0 Oct 18 3 l i
Com stock ($50) $14,029.850...........
Preferred ($50) $6.400,000________
8 J-J
* 6.400 000 July IS 4%
6% bonds of 19H...................... 1914 5 M-S
2,600.000 Vlar 11944
Bonds ($1,000) ........................ 1917 5 F-A
2.700.000 Fob 11922
Bonds ($1,000) ------c* ntf 1902
4 F-A
6.709.000 Aug 1 1932
Bonds ($7000 0 0 ) ...c ^ r .n tf U S
JO
414 J-J
700 000 Jan 11923
1,604,000 July 1 1930
Bonds ($1.000)--------- c& r.n tf 1910 414 J-J
B°n< 3.....................................ntf 1912 5 M-N
600.000 Nov 1 1932
g ond3
1016 5 M-N 815.090 May 1 1919
g onds f 1.000 ...................
1916
5 F-A 1.581,000 Aug 1 1936
Bonds ($1,000).........c*& r.n tf 1917 7 g F-A
1,581,000 Aug 11920
Bonds---------------------------------- 1 9 1 7
7 M. a
570,000 Sent 1 1947
Bonds
.................
1918
7 F-A
375.000 Feb 1 1019
Bonds ($1,000)------------ C*&r. 1918 7 F-A
1,581.000 Aug l 1924
Bonds.— Interost on all Issues is payable at American Trust C o., Boston
oxcont on the 6-year bonds of 1918 and tho 3-year bonds of 1916 and 19171
which Is payable at Old Colonv Trust Co., Boston.
OFFICERS.— Pres., Josoph B. Russell; Treas., Parkman Dexter.— T.
105, p. 291, 499, 1lOo; V. 106. p. 398, 711, 2451; V. 107, p. 503.
(2) Somerville Horse RR
Owns 8.03 miles of track. Leased to West End Street icy. for $9 180
yearly— 6% on $153,000 stock. Dividends are payable M . A N . in Boston.
B O STO N S U B U R B A N E L E C T R IC C O M P A N IE S .— A trolley system .
.. O R G A N IZ A T IO N .— This com pany Is a voluntary association form ed in
N ov. 1901 on the same lines as the M ass. Electric Companies
C on
trols through stock ownership the Middlesex A Boston Street Ry (into
which the Natick & C ochltuate St. R y., the W estboro * flopkln St R y.
the Newton A Bos. St. R y .. the Newton St R y. and the Lex A Boston S t!
Ry. have been merged). In 1902 purchased Norum bega.Park and Lexing
ton Park. In 1908 Massachusetts R R . C om m . Sustained action increasing
Tares on several o f the subsidiary lines from 5 to 6 cents. V 87 p 345
Has acquired freight rights In several o f the towns along its linos
"
, S T O C K .— Shares have no par value, but in case <1 liquidation the pre
ferred shareholders will be entitled to $100 per snare, with accrued dividends
the com m on shares participating pro rata In the remaining assets (See
V . 73. p. 1159, 1263.) In 1904 15.835 shares o f preferred and 15,635 shares
of com m on were offered to shareholders at $86 87 for one share o f pref and
one share o f com m on Jointly. Listed nn Boston Stock Exch. In Apr i 005
On M ay 22 1913 the stockholders authorized the cancellation o f the 32.387
mares o f cum . pref. stock outstanding and the issue o f notes in olaco o f
holders having the option o f taking cash or notes Tor their stock.
V 96. O 1487.
F a r e I n c r e a s e . — See M iddlesex A Boston Street R y . below.
/
D a le.
In ter es t.
O u ts ta n d in g .
M a tu rity .
iomm on stock ....... .......... ..........................
60 298 sh
Preferred s to ck , $4 per sh. cu m -------Q-J
3 1 .387 sq
g e0
"
oupon notes. $2.000,000[ 1909 4 J-D
$1,100,800
Apr 11919
($100 $500 and $ 1 ,0 0 0 ) ... I Interest at Boston Hafe Deposit A Trust C o .
Demand and tim e loans______ __________ ____ ____ 85,000
.
N o t e s . — 'The 1909 notes are not specially secured, but are sim ple obligau o t lc e 'I t 1 < m T C V 89, p,hJ1068.tO Ca“
l
H’,y
date ° n 90 d a y s'
R O* D ’.- C o m p a n i e s o w n e d a n d c o n t r o l l e d o n o r a t o l n t h e a g g r e g a t e a b o u t
l o AD ~
131 ^ u ^ f ' t r a c_____________________ _____*_____________________ e n o r t h , au d
k fr o m N e a l h a m o n t h e o u th * to L o w e ll o n th
an
connecting at five points with the tracks o f tho Boston Elevated itv'" *At
Westboro connection Is made with the Worcester Consolidated.
Dividends.— First or $1 on preferred paid April 1902 also $1 July 1902
i* dion 7° « V l9 ? 2 ’
n
1?,0 3 ’ f 4i 'P l ?,64j 52 50; In 1905. $2; In 1906. $2 75;
In 1907 $3
Jan . April and July 1908 dlv passed
In Oct. 1908 divs.
m iT « n V S nd Pa,dft75 cgata’ , In
J 3 ’ r In 1910 to 1913. Inci., $4
In
1914, $350. In 1915. $3. In 1916. $3. In Jan. 1917. 50c.; April 50c.
None sinco. Arrears o f dividends $17 50.
*
ending D ^ J '3 l Figri6- earS endlng D e c ’ 31 1917- Juno 30 1916 and 6 m os.
Period—
Inc. from Securities.
E x p . & In t.
D iv s .
S u rp .
Year end. D oc. 31 1 9 1 7 _____ 114 952
$ 5 9 ,1 9 4
$ 3 1 .2 0 3
$ 2 4 ,5 5 6
6 mos. end. Dec. 31 1 91 6 ...........$62,440
$ 2 5 ,2 2 7
$ 3 1 ,2 0 3
$ 6 ,0 0 9
Year end. June 30 1 9 1 6 ...............146,333
5 0 .2 8 8
9 3 ,7 9 3
2 ,2 5 2
( ) F F r o E R S.— Pres.. Adams D . Olaflln; V .-P ., Sydney Harwood: T r o a s ..
Cha-s. W . Smith; Sec.. A. A Ballantino: Asst. Treas., G. M . Oox — V IO
'->
p. 152; V. 103. p. 60. 1209: V. 104. p. 2610; V. 105, p. 2542; V 106, p. 818!
(1) M iddlesex & B o sto n S treet R.v,— T rolley.
O R G A N IZ A T IO N .— Organized In 1907 and took over the South M iddle
sex Street R y ., sold at receivers’ sale July 1 1907. and has since acquired
and merged the W estborough & Flopklnton St. R y .. the Natick & Oochltu»te St. R y. (V . 87. p. 1420) the Newton St. R y. (Into which Waltham St.
{y ,' had
m erged, and which had acquired Comm onwealth Avo. St. R y.
»nd Wellesley & Boston St. (tv ), V. 89. p. 778, and the Newton A Boston
3t. Ky. (V . 89, p. 993). On M ay 9 1912 M ass. R R . C o m m i s s i o n granted
permission to absorb by consolidation the Lexington & Boston St. Ky and
VS'o 4 p n i 7 8^o c h In exchange $ for $ for stock of absorlxxl com pany;
^ a r e s .- I n Aug. 1917 the co. accoptcd for a trial period o f 6 months a
modified fare schedule establishing 6 , 7 and 8 cent faro units. Theso rates
proving insufficient to meet its needs, the co . on M ar. IS 1918 filed a now
schedule with the Mass. i>. S. C om in. eliminating 6-cent fares and strip
t i c k e t s o f 2 0 f o r S I 2 0 , a n d e s t a b l i s h i n g a 1- c o n t c h a r g e f o r t r a n s f e r s f r o m
a 7 -c e n t t o a n 8- c e n t lim e , fr e o tr a n s fe r s t o b o is s u e d fr o m a n 8- c o n t t o a
7 -c e n t lin o .
C om p a re V . 99, p . 1306.
i , , ! ? X 0 V iK n a ^ A n a U 0 N , > S —
U aU '
In ter es t.
O u tsta n d in g .
M a tu rity .
R o c k . $ 1 . 9 8 7 . 0 0 0 ............... .............................................
$ i <)H7 ODD In '1 7 1
* 5 . 0 0 0 . 0 0 0 ( 11)13
4 4 g J -J
1 .4 8 3 .0 0 0 J a n 7 / ^
g o W ($ 1 ,0 0 0 ) . . .
c l l n t . a t B o s t o n S a fe D o p A T r . (^ o ., t r u s t e e .
^ / « i Br S fn v l s t .? ,IK ,, ^
’ 0 0 (l ; ! , 1 9 0 0
4 H g A -O
5 0 0 .0 0 0 J u ly 1 1 9 2 0
g ($ 1 ,0 0 0 ) c a lla b le 1 0 5
c * l In te re st a t B e a c o n T ru s t C o . B o s to n , tru s te e
C u r r e n t l i a b i l i t i e s D e c . 31 1 9 1 7 ...............................................
2 6 5 .7 5 5
B o n d s .— R e m a in in g f ir s t a n d r e fu n d in g b o n d s a r e r e s e r v e d f o r a d d lt lo n a T
e x te n s io n a n d I m p r o v e m e n t s .
C a lla b le o n a n y In te re st d a t e o n 3 0 d a y s '
n o tic e a s fo llo w s : J a n
1 191 7 to J u iy 1 1 9 2 1 . I n c lu s iv e , a t 107 H a n d I n t .;
■ja ? ’ I . e o 2,2 y * .J " . y 1 l 9 ^ 9 . I n c l u s i v e , a t 1 0 5 a n d I n t . ; J a n . 1 1 9 2 7 t o
J u l y 1 1 9 3 1 , I n c l u s i v e , a t 1 0 2 1 4 a r id I n t .
V . 94, p . 351.
.y e a r ‘ ,n c l ,'i g D o c . 3 1 1 9 1 7 . g r o s s , $ 1 , 0 7 4 0 0 9 : n e t a ^ t a x e s . $ 1 8 5 ,9 2 8 ; in t e r e s t , & c ., $ 1 5 4 ,9 1 5 ; d iv s . ( 1 > 4 % ) . $ 2 9 ,8 0 5 ; s u r .-
Se p t .. 1918.
ELECTRIC RAILWAYS
R O A l ) . — O w n s 9 6 . 9 0 4 m i l e s o f t r a c k In N e w t o n . W a l t h a m , W a t e r
t o w n , N a tic k
W e lle s le y , F r a m in g h a m . I lo p k t n t o n
N eedham
W e sth o ro
S b e r b u r n . W a y la n d . B e lm o n t a n d A s h la n d , c o n n e c t in g w ith t h e W o r c e s t e r
C o n s o lid a t e d S tr e e t R y ., th e B o s to n E le v a te d
R y . (a t 4 p o in t s ), & e
F o r m s u l i n k In a t h r o u g h l i n e f r o m B o s t o n t o W o r c e s t e r .
A ls o o w n s 3 2 .3 5 0
m i l e s o f t r a c k , le a s e s 0 . 7 4 6 m i l e : t o t a l , 3 3 . 1 0 1 m i l e s , e x t e n d i n g f r o m A r l i n g
t o n H e i g h t s ( t e r m i n u s <-f B o s t o n E l e v . s y s t e m ) t h r o u g h l . e x i n g t o n a n d B e d
f o r d t o B i l l e r i c a , w h e r e c a r s g o t h r o u g h t o L o w e ll w i t h o u t c h a n g e , a n d a ls o
t o t h e S u lli v a n S o u a r e , C h a r l e s t o w n , s t a t i o n o f t h e B o s t o n E l e v . R y . w ith
b r a n c h e s t o V V a lt n a m a n d t o C o n c o r d .
T o t a l t r a c k o w n e d . 1 2 8 .2 5 4 m ile s
20 4 p ass
a n d 14 w o r k c a r s : 2 0 s n o w p l o w s .
6 0 t o 7 5 -lb . T
a n d 9 5 -lb .
g i r d e r r a ils .— V . 1 0 1 . p . 2 0 7 1 ; V . 1 0 5 , p . 6 0 7 : V . 1 0 7 , p . 1 8 1 , 1 0 0 4 .
M ASSACH U SETTS
E L E C T R IC
C O M P A N I E S — S tre e t
r a ilw a y s
O R G A N I Z A T I O N . — F o r m e d In J u n o 1 8 9 9 .
Is n o t a u i n c o r p o r a t e d
com pan y
b u t a v o lu n t a r y a s s o c ia tio n m a n a g e d b y a b o a r d o f fifte e n tru s
t e e s , w h o h o l d t h e t i t l e t o I ts a s s e t s .
T h e t r u s t r u n s fo r 21 y e a r s , o r u n t il
J u n e '2 9 1 9 2 0 . a t w h i c h t i m e t h e a f f a i r s o f t h e A s s o c i a t i o n a r e t o b e l i q u i
d a t e d ( t h e p r e f . s h a r e s h a v i n g a f i r s t c l a i m u p o n t h " a s s e t s T or 5 1 0 0 p e r s h a r e
t o g e t h e r w i t h a ll u n p a i d a c c u m u l a t i o n s o f d i v i d e n d s ) u n l e s s p r i o r t o t h a t
t im e , a t a m e e t in g c a lle d fo r th a t p u r p o s e , t w o -t h ir d s o f th e s h a re s t h e n o u t
s t a n d i n g s h a l l v o t e t o c o n t i n u e I ts e x i s t e n c e .
V . 97. p. 1823.
M essrs. E .
R o l l i n s M o r s e & B r . a n d P u c k e r , A n t h o n y & G o . >f B o s t o n , w h o p r o
m o t e d t h e c o m b i n a t i o n , In J u n e 1 8 9 9 . In o f f e r i n g s o m e o f t h e s t o c k f o r p u b
l i c s u b s c r i p t i o n ( 5 1 . 0 0 0 o f p r e f . a n d $ 5 0 0 c o m . w a s o f f e r e d Tor $ 1 , 0 5 0 ) ,
s ta te d th a t " t h e D e c la r a tio n o f T r u s t c o n t a in s s t r ic t p r o v is io n s a g a in s t th e
c r e a t io n o f a n y I n d e b t e d n e s s w h e r o b y a u y s h a r e h o ld e r o r t r u s t e o c a n b e h e ld
t o a n y p e r s o n a l lia b ilit y "
C o m p r is e d o r ig in a lly b e tw e e n 3 0 a n d 4 0 s o p
r a t e p r o p e r t i e s , b u t t h r o u g h c o n s o l i d a t i o n t h e r e Is n o w o n l y o n e o p e r a t i n g
com pan y
n a m e l y , t h e B a y S t a t e S t . R y . . w h o s e e n t i r e c o m m o n s t o c k 1»
o w n e d b y th fe M a s s a c h u s e t t s E l e c t r i c C o s .
T h e H y d e P a rk E le c tlc L t C o .
fo r m e r ly o w n e d , w a s s o ld o n J a n . 3 19 1 2 t o E d is o n E le c I liu m
C o . o f B os
t o n b u t In M a r 1 9 1 2 t h e B a y S t a t e S t . R y . b o u g h t h a c k t h e p o w e r s t a t i o n
T h e s y s t e m c o m p r i s e s e l e c t r i c s t r e e t r a i l w a y l i n e s in 2 2 c i t i e s a n d 7 0
t o w n s in E a s t e r n M a s s a c h u s e t t s a n d R h o d e I s l a n d , c o v e r i n g t h e g r e a t e r
p a r t o f th e s t r e e t r a ilw a y m ile a g e n o r t h o f B o s t o n a s fa r a s N e w b u r y p o r t a n d
G lo u c e s t e r , M a s s ., a n d s o u t h a s fa r a s F a ll R iv e r a n d N o w R c d f o r d , M a s s .,
a n d N o w p o r t , R . I ., c o n n e c t in g d ir e c t ly w it h th o s t r e e t r a ilw a y s y s t e m o f
B o s t o n : a l s o a n e l e c t r i c - l i g h t i n g p r o p e r t y in N e w p o r t , R . I .
T h o ca rs o f
t h o B a y S t a t e S t. R y . r u n in t o t h e s u b w a y o f t h o B o s t o n E le v a t e d R y . a s fa r
a s S c o lla y S q . u n d e r a 0 9 -y e a r le a s o .
T h e A m e r i c a n G a s C o a l C o . w a s I n c o r p . In D e c . 1 9 1 7 in P e n n a . w i t h
$ 2 0 0 ,0 0 0 a u t h
c a p i t a l s t o c k t o t a k e o v e r c e r t a i n c o a l la n d s o f t h e M a s s .
E le c . C o . 's s u b s i d i a r y , t h e N e w E n g la n d F u e l & T r a n s p o r t a t i o n C o .
P a y m e n t o f A c c r u a l D iv s o n P r e f . S to c k .— O n J a n . 5 1 9 1 2 p r e f
sh are
h o l d e r s w e r e o f f e r e d 5 3 . 0 4 9 , 0 0 0 In n e g o t i a b l e w a r r a n t s f o r a d d i t i o n a l p r e f .
s t o c k , t o re p re se n t a c c r u e d d iv id e n d s o f 1 7 * T % o n p r e f. s h a r o s
N o w p re f.
s h a r e s Iss u e d J u ly 1 1 9 1 2
V 93. p 1462: V . 94, p . 68.
S to ck a n d B o n d h o ld e r s O r g a n iz e f o r P r o t e c t i o n .— D e p o s i t s o f t h o v a r i o u s
s e c u r itie s o u t s t a n d in g h a v e b e e n c a lle d fo r b y th o fo llo w in g p r o t e c t iv e
c o m m it t e e s :
, ,
. _
...
_ ___
_
P r e f e r r e d S t o c k h o l d e r s C o m m i t t e e . — C h a i r m a n . R o b ' t C . M o r s e ; 11. H .
C r a p o , 8 . I I. F e s s e n d e n . H o n . F r e d e r ic A . F is h e r ,
A lfr e d D . F o s te r .
F r a n c is R . H a r t . O t ;o . W i g g l e s w o r t h .
S e c ’y , P h ilip M . R e y n o ld s
D e
p o s i t a r y , O ld C o lo n y T r u s t C o . , B o s t o n .
V . 105, p . 2184.
D e p o s it
r e c e ip t s lis t e d o n B o s t o n S t o c k E x c h a n g e .
V . 106, p . 2014.
C o m m o n S to c k h o l d e r s ' C o m m i t t e e . — G a l e n L . S t o n e , F . L
H lg g ln s o n J r.
a n d J o h n O . R ile y .
D e p o s i t a r y O ld C o l o n y T r u s t G o . , B o s t o n .
V
105
p . 2 2 7 2 . D e p o s it r e c e ip t s lis te d o n B o s t o n S t o c k E x c h a n g e . V . 1 0 6 , p . 2 0 1 4 .
Committee f o r 5% Notes.— C h a s . O . B a n c r o f t , C h a i r m a n : G e o . 11. S t u a r t .
J . C . N e ff, A rth u r C . R a y m o n d , R o g e r W . B a b so n an d E
E lm e r F o y e .
a ll o f B o s t o n .
T y l e r , C o r n e a u A F a m e s ,c o u n s e l.
D e p o s ita r ie s
In tern a
tio n a l T r u s t C o . . B o s t o n , a n d G ir a r d T r u s t C o . P h lia .
V . 105. p . 2184.
2365.
A m a jo r it y o f th e n o te s h a v e b e e n d e p o s it e d .
A c o m m i t t e e c o n s is t in g o f H . H . H o ld e r , R o g e r \V. B a b s o n , R o b e r t C .
M o r s e a n d G o r d o n A b b o t t w a s a ls o a p p o i n t e d , t o c o n f e r w it h t h e m a n a g e
m e n t a n d s o c u r e I n fo r m a t io n r e g a r d in g t h e c o m p a n y ’s f in a n c e s .
F or rop ort
b y t h i s c o m m i t t e e In M a r c h 1 9 1 8 , s e e V . 1 0 6 . p . 1 0 3 6 .
R e o r g a n iz a ti o n C o m m it te e .— S e e B a y S t a t e S t r e e t R y . b e l o w .
STO CK
A N D B O N D S . — T h e s h a r e c a p i t a l la r e p r e s e n t e d o y c e r t i f i c a t e s
o f p a r t i c i p a t i o n w h i c h g i v e t h o o w n e r s a p r o p o r t i o n a t e I n t e r e s t In t h e s h a r e s
h o ld b y t h e t r u s t e e s . B o t h c la s s e s o f s h a r e s a r e r e p o r t e d e x e m p t f r o m t a x a
t i o n In M a s s a c h u s e t t s
C o in , s to c k a n d s ta m p e d p r e f
s t o c k lis t e d o n
B o sto n S to ck E xch a n g o.
T h e b a la n c e s h e e t o f th e c o n t r o lle d B a y S ta te S t Ry
s h o w e d fu n d e d d e b t J u n e 3 0 1 9 1 7 .5 2 3 ,4 5 6 .5 0 0 , a n d n o te s fo r a m o u n t s d u e
M a s s . E le c . C o s . . S 6 5 0 .0 0 0 .
.
D a te .
Rate.
O u ts ta n d in g .
D iv id e n d :
C om m on
stock ,
p a r 5 1 0 0 1 _____
____________
5 1 4 ,2 9 3 .1 0 0
......................
( $ 1 4 , 2 9 3 , 1 0 0 ) .................................(
•
P r e f. s to c k ,
par $100
4 % j --------4 J -J
2 4 .1 3 0 .3 1 5
S ee te x t
c u m ( $ 2 4 , 2 0 6 , 1 0 0 ) ............. . I
«
0611 tr u s t c o u p o n n o te s , g o ld ! 1 9 1 5
5 g A -O
3 ,0 0 0 ,0 0 0 A p r il 1 1 9 1 8 .
(8 1 .0 0 0 ) $ 3 .5 0 0 .0 0 0 .c * c p t I O l d C o l o n y T r u s t C o . . B o s t o n . T r u s t e e .
T h o 1 9 1 5 c o u p o n n o t e s a r e s e c u r e d b y $ 1 2 ,2 6 5 ,8 0 0 c o m m o n s t o c k o f th e
B a y S ta te S tre e t R y
V
100. p . 733.
R E P O R T . — F o r y e a r s e n d i n g S e p t . 3 0 ( 1 9 1 7 r o p o r t In V » 1 0 5 . p 2 3 6 1 ) :
Y e a r e n d in g D iv s . o n
In i. o n
T o ta l
In ter es t,
P refer red
S u r p lu s
I n c o m e . E x p s .. A c . D iv id e n d s ,
o r D e fic it
S e p t . 30—
S to ck s. N o t e s ,A c
1 9 1 6 -1 7 ... $14.706 521.023
$ 3 5 ,7 2 9 $ 1 6 5 ,5 9 9
d e f.5 1 2 9 .8 7 0
1 9 1 5 -1 6 ... 111.259 48.368
1 5 9 .6 2 7
1 6 4 ,3 6 5
........................d o f . $ 4 7 3 8
1914-15— 513.068 78.489
5 9 1 ,5 5 7
1 9 2 .0 7 9 (2 )5 4 8 4 .1 2 8 d e f .8 4 6 5 0
1913-14 .-.1,077.291 77.552 1,154.843 177,693 (4)968.256 s u r . 8 . 8 9 4
11
ORGAN IZATION .— This was the Lynn & Boston Kit iliicorp in Mass.
April 6 1859), but on July 23 1901 name changed to Boston A Norther*
St Ry. and on Aug 8 1911 name was again changed to present title. The
following companies have been absorbed from time to time
The latest of
these absorptions was In June 1911. when the Bos. & Nor took over the
Old Colony and Issued 7,767 shares of pref. and sO.041 shares of com. I»
exchange for like amount of Old Col. Street Ry. stock
B e v e r ly & D a n v e r s .
Mystic Valley
B o s to n M ilto n & B r o c k t o n .
Needham & Boston
B r a in tr e e A W e y m o u t h .
New Bedford Middleb. A Brockton-.
B r ld g e w
W h itm a n & R o c k la n d .
Norfolk Central
B r o c k t o n B r ld g e w A T a u n t o n .
Norfolk Suburban
B r o c k t o n & E a st B r id g e w a te r .
North Woburn.
D ig h t o n S o m e r s e t A S w a n s e a .'
Old Colony Street Ry.
E a s t S id e B r o c k t o n A H o lb r o o k .
Providence & Taunton
G e o r g e t o w n R o w le y A Ip s w ic h .
Quincy A Boston.
G lo b e S tre e t R y
Reading & Lowell.
G lo u c e s te r E ssex A B e v e r ly .
Reading Wakefield & Lynfleld.
G lo u c e s t e r A R o c k p o r t .
Rockland A Ablngton.
G lo u c e s t e r S tre e t R y .
Rockport Street Ry
H a n o v e r S treet R y .
Salem & Wakefield.
H a v e r h ill A A n d o v e r .
South Shoo? A Boston
H a v e r h ill G e o r g e t o w n A D a n v e r s .
Taunton A Brockton.
i > gh arn S t r e e t R y .
Taunton Street Ry
L a w r e n c e A R e a d in g
Wakefield & Stonehara
L o w e ll A W o b u r n
West Roxbury A Rosllndale
L o w e l l L a w r e n c e .V H a v e r h i l l .
Whitman Stroe' Ry
L o w e ll A S u b u r b a n .
Woburn A Reading.
M id d le to n & D a n v e rs
Lease.— I n 1 9 0 3 t h e B o s t o n E l e v a t e d R y . l e a s e d a l l o f t h e t r a c k o f t h e
f o r m e r O ld C o lo n y S t r e e t R y . ( n o w a p a r t o f t h e B a y S t a t e S t
R y . ) In
th e c it y o f B o s to n fo r 9 9 y e a r s .
T h e le a s e p r o v i d e s f o r t h e p a y m e n t o f a l l
t a x e s a n d a l s o 6 4 $ % o n r e p l a c e m e n t v a l u e ( a p p r a i s e d a t $ 3 5 3 , 9 7 9 , le s s t h e
r e n t a l o f c e r t a i n s h o r t p i e c e s o f t r a c k a p p r a i s e d a t $ 1 3 ,8 6 0 > o f p r o p e r t y
le a s e d a s o f d a t e F e b . 16 1 9 0 3 , a n d 4 % o n a ll a d d i t i o n s a n d b e i t e r m e n t s .
I n 1 9 0 7 o b t a i n e d p e r m i s s i o n t o d o a f r e i g h t b u s i n e s s In a m a j o r i t y o f t h e
t o w n s a l o n g I ts li n e s s o u t h o f B o s t o n , a n d Is n o w h a n d l i n g e x p r e s s a n d f r e i g h t
b y t r o ll e y o v e r a c o n s id e r a b le p e r c e n t a g e o f th is t r a c k .
In S e p t . 1911
M ass
R R . C o m m i s s i o n g r a n t e d a u t h o r i t y t o c a r r y c o a l In c a r l o a d l o t s or
le s s In D r a c u t , M e t h u e n . M i d d l e t o w n a n d N o r t h A n d o v e r .
In S e p t . 1 9 1 2 s ig n e d a c o n t r a c t b y w h ic h t h e B o s t o n E le v a t e d b r in g s t h e
c o m p a n y 's e x p r e s s c a r s I n t o B o s t o n o v o r t h o f o r m e r 's l i n e s t o a f r e i g h t
te r m in a l
V. 95. p
1123
U.
S. Government Makes Advances.— I n N o v . 1 9 1 7 w o r k w a s b e g u n
a d d i t i o n a l t r a c k t o t a k e c a r e o f t h e I n c r e a s i n g t r a f f i c in Q u i n c y , d u e t o t h e
e x p a n s io n o f t h o B e th le h e m S h ip b u ild in g p la n t .
T h e c o s t , it w a s s t a t e d ,
-w o u l d b o $ 1 7 5 , 0 0 0 , t o b e a d v a n c e d f r o m t h e W a r D e p t . E m e r g e n c y F u n d
a n d t o b o r e p a id t o th o G o v t , a t t h e r a t e o f 1 c e n t fr o m e a c h fa r e c o ll e c t e d .
O n J u n e 2 6 1 9 1 8 t h o r e c e iv e r w a s a u t h . t o b o r r o w $ S 2 ,0 0 0 f r o m t h e U . S .
S h ip p in g B o a r d E m e r g e n c y F le e t C o r p . t o p r o v id e fo r e x t s ., A c ., f o r t r a n s
p o r t a t io n o f e m p lo y e e s e n g a g e d a t th e F o r e R iv e r s h ip b u ild in g p la n t .
The
l o a n is p a y a b l e in 5 a n n u a l I n s t a l lm e n t s b e g i n n i n g 6 t n o s . a f t e r t h e w a r a n d
r e c e i v e r ’s c e r t if i c a t e s a r e t o b o p le d g e d a s c o ll a t e r a l. V . 1 0 6 , p . 2 7 5 5 .
Decision regarding carrying children for half-fare. — I n M a y 1 9 1 2 t h e f u l l
b e n c h o f M a s s . S u p r e m e C o u r t su sta in e d t h e c o n s t lt u t lo n a llt y o f C h a p . 5 7 6 .
A c t s o f 1 9 1 1 , p r o v id in g t h a t s t r e e t r a ilw a y s s h a ll c a r r y s c h o o l c h il d r e n u n
d e r 16 y e a r s o f a g e fo r h a lf fa r e
V . 9 1 . p 15 0 7
F a v o r a b le D e c i s i o n .— F o r d e c is io n in F a ll R i v e r r a t e c a s e s e e V .1 0 5 ,p .2 4 5 5 .
F a r e s .— I n J u n e 1 9 1 8 t h e M a s s . P . S . C o m m , a p p r o v e d a c o m p r o m is e
a g r e e m e n t b e t w e e n t h e c o . a n d r e p r e s e n ta tiv e s o f t h e c itie s a n a t o w n s
th r o u g h w h ic h th o c o . o p e r a te s a s t o a r e a d ju s t m e n t o f fa r e s o n a z o n e
s y s te m b a s is , fo r d e ta ils o f w h ic h s e o V . 1 0 6 , p . 2 6 4 8 .
In A u g . 1 9 1 8 w a s
a u t h . b y th e M a s s . P . S . C o m m , t o iu c r e a s o fa r e s fr o m 6 t o 7 c e n ts In c e r
t a in lo c a lit ie s w h e r e c o n n e c t io n s a r e m a d e w it h t h e lin e o f t h e B o s t o n
E le v a te d R y .
V . 107, p . 500.
In S e p t. 1 918 w a s a u th . b y th e I .-S . C .
C o m m , t o in c r e a s e r a t e s ( n o t t o e x c e e d , h o w e v e r , t h o s e c h a r g o d o n s t e a m
r o a d s ) b e t w e e n p o in t s o n t h e c o . ’s lin e s a n d p o in t s r e a c h e d b y i t o n t h e
R h o d e I s la n d C o . ’s lin e s .
V . 107. p . 1191.
Public Control Bill.— I n M a y 1 9 1 8 t h e M a s s . H o u s e o f R e p r e s e n t a t i v e s
p a ss e d a p u b lic c o n t r o l b ill p r o v id in g fo r th o o p e r a tio n o f th e c o ’s p r o p e r tie s
u n d e r a s e r v ic e a t c o s t p la n , s o m e w h a t s im ila r t o t h a t u n d e r w h ic h t h e
B o s t o n E l e v a t e d R y . is n o w o p e r a t e d ( s e o t h a t c o . a b o v e ) . V . 1 0 0 , p . 2 3 4 3 .
R a te I n c r e a s e .— In J u n o ’ 1 9 1 8 f ile d w it h t h o M a s s . P . S . C o m m , n o t ic e
o f a 2 5 % in c r e a s e in f r e ig h t r a t e s w it h a m in i m u m c h a r g e o f 5 0 c e e t s f o r
s m a ll p a c k a g a s . V . 1 0 6 , p . ^ 7 5 5 .
O u tsta n d in g
L a st d iv .,A c
STO CK S AN D b o n d s —
Date. Interest.
$20,517,200 Jun»'16,
____ _______
S tock c o
n i o n (par $ 1 0 0 ) ____ - ______
4.011.300 Feb 17, 3%
1 s t p r e f ( $ 1 0 0 ) 6 % c u m _______ _______
F -A
1,-04,000 See text
S e r ia l n o t e s . 8 2 . 0 0 0 , 0 0 0 c . n t f ( 1 9 1 2
5 F -A
l In te r e s t a t A m e r ic a n T r u s t C o
B oston .
O n e - y e a r n o t e s _______ ___________ c 1 9 1 7
5%
8 5 0 .0 0 0 M a r . 1 5 'I S
6 g F: A
1 ,3 0 3 .0 1 ) 0
S ee tex t
E q u l p t n o t e s . $ 1 , 3 0 8 . 0 0 0 g _____ 1 9 1 7
8,08s.000 July 1 1954
Bos A Nor ref mtge. $15.000, 1904 4 g J-J
000, gold ($1,000) .c* ntf Int. at American Trust c 0 . Boston, Trustee.
894
_ 3,723.000 Dee 1 19241
Lynn A Boston 1st mtge. g, 1894 5 g J-D
_________________ , _ _
_
55.379,000 '$1,000) c* ntf Int. at Old Colony Tr. Co. .Boston. Trustee.
G R A 1 1st mtge ($1,000), 1900 5 g J-D
180.000 lune 1 1920
$180,000, g o l d _______ ntf (Interest at City Trust C o .. Boston. Trustee.
H G A D 1st mtge.......... ntf 1899
5
35.000 Mcb 1 1919
The Mystic Valley St. Ry. has out $60,000 gold 5s, due Jan. 1 1919.
Lowell Lawrence & Haverhill
BONDS—
Date. Interest.
Outstanding. MaturityTotal profit and loss surplus Sept. 30 1917. $2,434,273
5 g J-D
$607,000 June 1 1923
DIVIDEN DS. — First div on pref. stock, 2% was paid Dec. 1 1899. also Lowell Lawrence A Haverhillf 1893
1st mtge. $1,900,000. gold.jSubj. to call for the sink fund at 105 & Int.
2% June I 1900 Dlv period then changed to JAJ and 2 1-3% paid Jan
$1.000...............- -C* . ntf I Int. at American Trust Co Hasten Trustee.
1901: July 1901. 2% : In 1902. 1903 and 1904, 4% . None to Jan. 1909
Feople’s St Ry, West New-/ 1898 5 J-J
64.000 Jan 1 192$
when 1% paid: July. 1 K % . See V. 79. p. 2642, 2456: V. 85. p. 1646: V 87
bury 1st M as«uraed ntfllntereet at State Street Trust Co. Boston.
p . 1 4 2 0 . and V. 89. p. 1597. In t9 1 0 .3 «4 % .
In 1911.4% . In 1912. 4%
(See above for payment of accrual dlvs. o f 17 % .) In 1913 and 1914. 4%
OLD COLONY STREET RY. SECURITIES.
In 1916, Jan.. 2% - The July 1915 dlv. was omitted. Seo V. 100. p. 1832
BONDS—
Date. Interest.
Outstanding
Maturity.
None since.
Kef mtge. $10,000,000, gold,I
190-1 4 g J-J
$6 780.00(1 July 1 1954
OFFICERS.— Pres , Gordon Abbott: V.-P., Charlas E. Cutting; Sec.
($1.000)........... .... -C* ntf lint, at Old Colony Tr .C o Boston, Trustee.
Everett W. Burdett; Treas.. J. H. Goodspeed; Gen. Mgr., P F Sullivan
Brockton (Consol) St Ry lstl 1894
5 g AO
689.000 Oct 1 1924
Gen. Auditor, II. H. Read Executive Committee: Philip Dexter. Chair
mort. $750,000. gold . n tffln t. at State Tr. C o., callable at 10.5 A Int.
man; Gordon Abbott, Charles Francis Adams, Galon L Stone, Percy Boston Milton A Brockton!
1899 5 J-J
100.000 luly 1 1919
Parker. Philip L Saltonstall and Charles E. dotting
Office. 84 State St..
tst rntge. $100.000
.n tffln t . at Internal. Tr. Co Boston Trustee.
B oston— V. 100. p. 80, 499, 1036, 2014, 2229, 2345: V. 107, p. 1004.
N Bedford M dleboro ABrock]
1900 5 g J-J
$325,000 Ian I 1920
(1) Bay State Street R v — An electric road
1st M. 5325.000 ($1,000). flut. at American Tr. Co. Boston. Trustee,
R e c e i v e r . — On Dec 12 1917 Judge Frederick Dodge In the U. S. Circuit
gold .............................. ntf)
Court at. Boston appointed Wallace B. Donham receiver on petition of
Of the
R y. ref.
Archibald McNill Sons & Co. of Bridgeport, Conn., holders o f a claim of for prior $10,000,000 Old Colony St.can only mtge.. $2.20 1.600 are reserved
liens. Remaining bonds
bo Issued for 50% of cost of
$19,000 for coal. V. 105, p. 2364.
additions A lmpr’ts These bonds are not subject to call
V 93. p. 1784.
R e c e i v e r ' s C e r t i f i c a t e s . — I n t e r e s t a n d R e n t a l P a y m e n t s . — All underlying
G lobe Street Railway Securities.
Interest and rentals, duo Jan. I 1918, were paid except the rental due the
Date.
Interest
Outstanding
Maturity.
Nashua Street Ily., tho leaso of which was not adopted by tho receiver. On
1898 5 g M S
$ 1 5 0 ,0 0 0 Sepi t 1918
Jan. 4 1918 tho Court auth. tho receiver to issue certificates for the payment Prov A Taunton St Ry lsc gl
($1,000) .auth $200,000 ntf f American Trust Co.. Boston. Trustee.
of taxes duo tho State and interest on tho Rof. 4s of the Bos. & Nor. St.
South Shore & Boston Street Railway Securities
R y. and Old Colony St. Ry. Tho bondholders’s committee, however,
Date.
Interest. Outstanding
Maturity.
considered It Inadvisable to consent to the issue of receiver’s certificates
5 F-A
$ 3 3 5 009 vug 1 1919
for tho payment of taxes and arranged for tho advancement of tho Jan. 1 Bonds. 1st M ($1,000). gold. 1 1899
51,000,000................... n tffln t at American Trust Co Boston Trustee.
1918 Interest on the deposited bonds through the depositary. V. 106.
Stock and Bonds.— $377,000 Bos. A Nor. and Old Colony St. Ry. bonds
p. 606. Interest due Feb. 1 1918 on the equipment notes was paid.
Interest due Aug. 1 1918 on the equipment notes was also paid. In March were held in Bay State St. Ry. Doc. 1 1917. By the terms of purchase
1918 Judge Dodgo auth. the receiver to discontinue tho operation of 125 of Old Colony by Boston A Nor. the pref. stockholders of both co- became
miles of unprofitable lines In his discretion, with the stipulation thiit tho 1st pref. stockholders of the Bay State St. Ry. Pref stock Is suhj to call at
120. Tax-exempt in Mass., incl. State income and normal Fed Income tax.
public be given sufficient notice. V. 106, n. 1125.
Listed on Boston Stock Exrh. Of the S15.000.000 Bost. A Nor. bonds. $4,
C o m m i t t e e f o r B o s t o n A N o . S t . R y . a n d O ld C o l o n y S t . R y . 4s.— John R.
Macomber, Chairman; James Dean, Frederick II. Ecker, Win L. Garrison 481,000 are reserved to retire prior liens. Remaining bonds can be Issued
Jr., John E. Oldham, Philip Stockton, Frederic B. Washburn and W. only for 50% of cost of add’ ns and impts. These bonds have no sinking
Eugene McGregor, Sec. Depositary, Boston Safe Dop A Tr. C o., Boston. fund and are not subject to call. V. 93. p. 1784. Of the $5 379.090 1st M .
bonds of the Lynn A Boston RR. R R .. 51.656.000 have been canceled.
V. 105. p. 2364.
Tho remaining coupon notes of 1912 mature on August 15th as follows:
C o m m i t t e e f o r L y n n A B o s t o n 1st M t g e . 5s.— Roland F. Gammons, Ola
Olsen, Chester B. Humphrey and Samuel II. Hollis: Leroy D Peavey, Sec., 1918, $57,000 (these were not paid at maturity); 1919, $64,000: 1920,
and Coollilgo A flight, counsel. Depositary. First National Bank. Boston.
$72,000; 1921, $80,000: 1922. $88,000; 1923, $97,000: 1924. $106,000;
1925, $116,000: 1926, $126,000; 1927, $136,000; 1928, $148,000; 1929,
V. 105, p. 2455: V. 106. p. 188.
$160,000; 1930, $174,000: 1931. $188,000; 1932. $202,000. V. 95. p. 618.
C o m m i t t e e f o r H o l d e r s o f U n s e c u r e d N o t e s . — J. Howard Leman, Chairman;
Albert H. Bock, Francis E. Frothingham, Albert L. RIploy, Bernard \V. $186,000 have been retired. Tho one-year notes of 1917 are secured by
$1,417,000 Bos. A Nor. and Old Colony St. Ry. bonds. The $150,000
Trafford, Thos. H. West, Jr.. Arthur H. Gilbert, 8ec., 35 Congress St.
i Boston, and Choate, Hall A Stowart, counsel. Depositary, First National 1st M . bonds of the Prov. A Taun. Street Ry. which matured on Sept. 1
1918 wore not paid at maturity.
Bank, Boston. V. 106. p. 821.
The equipment notes were Issued to provide, in part, for the payment of
R e o r g a n i z a t i o n C o m m i t t e e . — In Juno 1918 tho following committco, rep
resenting tho principal security holders’ protective committees, was formed 200 now semi-conv. P-A-Y-E cars, costing $1,631,000. Notes are due
to draw up a reorg. plan for this co. and tho Mass. Electric Companies. 5131.000 annually Aug 1 1918 to 1926, Incl.. and $129,000 Aug 1 1927,
Chairman. Receiver Wallace II. Donham; Galen L. Stono, Francis It. Hart, but callablo on any int. date at 100 and int. on 6 weeks’ notice. The
Chati. G. Bancroft, John R. Macomber and J. Howard Leman (Sec.) $131,000 which fell due on Aug. 1 1918 were purchase' bv the receiver.
Inter&st at Old Colony Trust C o., trustee. V. 105, p. 908.
V. 100. p. 2755; V. 107. p. 1003.
on
12
E L E C T R IC
D IV ID E N D S.— 6% was paid on pref. from 1908 to and Incl. Feb. 1917.
Aug. 1917 div. was passed. Initial div. on Bay State St. Ry. com.— 3 % —
paid Dec. 30 1911; in 1912, June, 2% ; Dec., 3% ; in 1913, June, 2 )4 % :
Dec., 3 % . In 1914. June, 2\i%\ Dec., 2 )4 % . Juno 1916, )4 % .
INCOM E ACCOUNT.— Fiscal year has been changed to end Doc. 31.
Year ending ----------- Years ending June 30-----------Dec. 31 ’ 16. 1915-10.
1914-15.
1913-14.
Gross earnings...............$10,413,018 $9,990,484 $9,538,407 $9,614,153
Net earnings...................$2,440,817 $2,231,603 $2,540,055 $3,180,290
Other income.
62,431
62,812
81,096
06,459
Gross Income............... $2,503,248 $2,294,415 $2,707,114 $3,267,380
Int., taxes, rentals, A c. $1,969,094 $1,949,441 $2,004,564 $1,952,115
Common dividends. . ( ^ %) 102,586 04)102,586(2)4)512,930(4)4)1077153
First pref. divs. (0 % ) ..
175,952
164,916
164,916
164,916
R A IL W A Y S
[V o l . 107
REPO RT.— For calendar year 1917 and years ending June 30:
V A ir n l
Tnt/,1
J\7»/
Tnl Jt.
r t r . f r w ...
Fiscal
Total
Int. A Pref. Divs.
Net
Common
Balance,
Years— Revenue. Revenue.
Taxes.
(6% ).
Dividends. Surplus.
1917----- $855,629 $258,601 $174,992 $28,032 (2)4) $50.625
$4,952
1916-17- 806,180
264,274
170.552
26.832 (2)4) 50,625
16,265
1915-16. 801.251
312,921
170,946
23.832 (3 m ) 75.938
42,205
1914-15- 738.797
307,671
170,025
23.832 (2 H) 55,688
58,126
1913-14- 692.477
251,859
167.362
23.832 (2)4) 55,688
4,977
ROAD.— Owns and operates 83.23 miles of track, a considerable portion
orver private right of way, between Boston and Worcester. Including an
extension to Natick. Rails, 75-lb. lias 91 cars.— V. 104. p. 1700. 1800.
V. 105, p. 290, 1305, 1308; V. 106, p. 85, 2755; V. 107, p. 290.
PUBLIC SERVICE INVESTMENT CO.
ORGANIZATION. A c.— Organized fn Maine In 1909 to hold and to deal
in stocks, bonds, notes and other securities. On Oct. 30 1913 stock was
Balance, surplus_____
$255,616
$77,471
$24,704
$73,202
Results in 1917.— Net, after cost of operation and fixed charges, amounted increased from $2,000,000 each of pref. and common to $3,000,000 each.
to $436,881 for the 10 mos. end. Oct. 31 1917, against $806,409 for tho V. 97. p. 1289.
STOCK—
Authorized. Par. Div. Period. Outstand’a. Last Div.
10 mos. of 1916.
ROAD, Ac.— The Bay State St. Ry. owns 875.37 miles and leases 72.35 Com m on................ $3,000,000 $ 1 0 0 ......................$2,500,000 See text.
miles, a total of 947.72 m. o f main line; owns and operates 2,130 passenger Pref. 6% c u m .......... 3,000,000 100 Quar.-Feb. 2,500.000 A u g ’ 18, 1)4
Stock.— Preferred stock Is redeemable at option of company at 115.
and 264 express cars. Power capacity 49 engines, 43,775 h.p., and 62
generators. 29.755 k.w.; 11 turbines, 22,500 h.p. and 15,100 k.w.
Securities Owned (Stone A Webster Properties) Dec. 31 1917.
OFFICERS.— Pres., Patrick F. Sullivan, Boston; V .-P ., R. B. Stearns; Blackstone Val. G. A EI..*$518,900|Tampa Electric C o_______ b$233.800
V.-P. A Troas., O. R. Rockwell; V.-P. A Gen. Mgr.. R . S. Goff.— V. 100. Cape Breton Elec. C o____ *500.0001 Galv. Houston Elec. Co____ *500,000
Jacksonville Traction C o . . *350.000 Northern Texas El. C o____ *500,000
p. 2227, 2343, 2559, 2648, 2755; V. 107, p. 80, 500, 694, 1003, 1191.
Houghton County E l.L . C o.*500.000 Pug. 8d. T r., L. A Pow.Oo*l .466,800
(а) Boston & Chelsea R R .— Owns 4.37 miles of main track. Leased Houghton County Trac. C o.*100.000 Key West Electric C o_____ a222.000
to Lynn A Boston Street R y. Co. at $7,260 per annum, equal to 6% on Columbus Elec. Co________ a 115.000 Key West Electric C o..........*374.100
$121,000 stock, payable A. & O.
El ^
Paso Elec. Co__________ *525,000 J
-------------------------- Cash A notes receivable____ 86,432
* Common stock, a Preferred stock, b Capital stock.
(б) Boston & Revere Electric Street Ry.
these companies (except the Blackstone Valley Gas
ORGAN IZATION .— Incorp. June 24 1889. Owns 3.78 miles of main A See statements of the Houghton County Electric Light C o.) on subse
Electric Co. and
track. Leased from July 1 1895 for 99 years to Lynn & Boston (now Bay quent pages.
State Street R y .), which guarantees Interest on the $50,000 mtge. of 1908
Dividends.— On pref. 1)4% quar. since Aug. 1909 to and Including Aug.
and dividends on $50,000 stock from July 1 1898 aft 5% per annum.
1918. On com., 1st div.— 1W %— Feb. 1 1910; Aug., 1)4% . In 1911.
STOCK AN D BONDS— Date.
Interest. Outstanding. Maturity. 3% . In 1912. 3 )4 % . In 1913 and 1914. 4% . In 1915, Feb., 2 % .
5J-J
$50,000 See text
Stock (par $100)................................
None since.
Boston A Revere Elec St Ryl 1908
5 g M-S
50,000 Sept 1 1928
INCOM
$50,000 gold ($1,000)_ c*/In t. at American Trust C o., Boston, Trustee. Calendar E.— Years ending Dec. 31: Pref.Divs.
_
Total
' ‘
Expenses
Com.Divs.
Surplus or
Bonds.— No sinking fund, but bonds may be called on any Interest date
Year—
Income.
A Taxes.
(6 % ).
(2 % ).
Deficit.
on six weeks' notice.
1917............... $184,145
$9,096
$150,000
sur.$25,049
1916............... 179.858
5,573
150.000
(c) East Middlesex Street Ry.
sur.24,285
6.844
150.000
$50,000
dof, 8.863
ORGAN IZATION .—Owns 19.35 miles of main track. Leased May 1 1915............... 197.981
1893 to Lynn & Boston (now Bay State St. Ry.) for 99 years at a rental till
DIRECTORS.— Henry G, Bradlee, Russell Robb, Chas. A. Stone,
May 1 1890 of $18,000 yearly in addition to fixed charges; then till May 1 Edwin S. Webster, Eliot Wadsworth (Pres.), John W. Hallowell, Dwight
1901 $24,000 yearly; and for remainder of lease $30,000 yearly. EJght P. Robinson.— V, 95, p. I l l ; V. 97. p. 1119, 1289. 1734; V. 101, p. 292.
per cent divs. had been paid, but on May 1 1901 were Increased to 10%.
STOCK AND BONDS— Date.
Interest
Outstanding. M aturity
Stock ($100), $300,000.......................
10
$297,700 See text
Plain bonds, int guar (end) __ 1902
4 J-.T
199,000 Jan 1 1922
TWIN STATE OAS & ELECTRIC CO.
Interest at Old Colony Trnet C o.. Boston.
ORGANIZATION.— Incorporated
The lessee In the lease agreed to stamp both tames o f the bonds with a acquired the Brattleboro Street R y.. in Connecticut on Aug. 26 1906 and
the Brattieboro Gas Light C o., tho
guaranty of the Interest— principal is not guaranteed.— V. 67. p. 482.
Dover Gas Light C o.(V . 83, p. 602), the Bennington Electric Co. and the
(d) W innisimmet (Street) R R .
Hooslck Falls Illuminating Co. In Oct. 1913 acquired the St. Johnsbury
ORGANIZATION.— Owns 2.08 miles of main track. Leased to the Electric Co. and In April 1914 the Cascade Lt. A Power Co. and the Borlln
Lynn & Boston for 999 years from 1880 at $3,000 per annum. Capital stock Elec. Co. Furnishes gas, electric light and power to Dover, N. H., and
Bennington and Brattleboro, Vt.; also electric light and power to Rochester,
Is $50,000; par $50.
Salmon Falls. Rolllnsford, Somersworth, Berlin, Milan, Gorham and Hins
(e) N ewport & Fall River Street Ry.
dale, N. H.; St. Johnsbury, St. Johnsbury Center. Passumpslc, Danville.
ORGAN IZATION .— Organised by special Act on Feb. 23 1898. July 1 West Danville, North Bennington, Bennington Centro, West Brattleboro
1900 consolidated with Newport St. Ry. Has also consolidated with New and Newfane, Vt.; Berwick, North Berwick, South Berwick and Lebanon.
port Illuminating Co. Embraces 21.74 m. of main track In and between Me., and Hooslck Falls, N. Y ., and operates the Brattleboro St. Ry.
Newport and Fall River; also electric lighting. Was leased on July 1 1901 Pres.. Samuel Insult. In a letter dated Mar. 25 1916, said, "all tho principal
for 99 years to the Old Colony St. Ry. (since merged in Boston & Northern, franchises were granted by the State Legislature and have been construed by
now the Bay State St. R y .) for a rental o f 8% psr annum and Int. on bonds. coiiu.se! as perpetual.” Control Is held by the National Light. Heat A
The Mass. Elec. Companies disposed of Its holdings In Feb. 1902.
Power Co., control of which was In turn acquired by the Middle West Utili
In Oct. 1915 issued $50,000 additional stock and $123,000 bonds In ac ties Co. in Oct. 1912. V. 95. p.1750.
cordance with lease to Bay State St. Ry.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
The co ’s $240,000 1st mtge. 5% bonds which matured on Aug. 1 1918 Common, $2,500,000. ($100)...........
.............. $1,250,000 __________
were purchased for the account o f the receiver o f Bay State Street Ry.
Pref(5%cum) $2.500.000 ($100)____
5 Q-M
1.500,000 June' 18 l k
8TOOK. BONDS. ETC.— Date.
Interest. Outstanding. Maturity.
1st A ref M $10,000,000 goldf 1913
6 ft A-O
________
„„„
1,940,500 Oct 1 1953
Stock, par $ 1 0 0 ...........- - ........... J-J
$1,050,000 See text.
($1,000. $50d A $100)c*cpt(Guaranty Trust Co., N. Y ., Trustee.
Consol mortgage. $1,000,000.1 1904 4)4 J-J
090.000 July 1 1954 1st rerM . $1,500,000 g ($5001 1906 4 H A-O
794.000 Oct 1 1926
gold ($1.000).......... c*A rtf lint. at Am. Trust C o., Boston, Trustee.
A $1.000)----------------- c* tf/In t. at Columbia Trust C o.. N. Y., Trustee
Newport Illuminating Co 2 d ) -----6g
63.600 Oct 1 1926 6-year debeiltures $ 3 2 5 .0 0 0 -------5
300.000 _____
mortgage, g o ld ------------ tf/Central Trust C o., New York, Trustee.
Secured notes. $300,000 gl1918 6 g J-J 28
300,000 Jan. 28 1919
($100. $500 A $1,000) c*tf (Metropolitan Trust Co., N. Y., Trustee.
Bonds.— Remaining consol, mtge. bonds are reserved to retire prior liens
Dover Gas Light con mort-j
1905 5
105,000 Sept 1 1925
Not redeemable. V. 79. p. 213, 601. 1462.
gage. $500,000 ________ tf (Union Safe Dep^ A Trust Co., Trusteo.
Brattleboro Gas L Co m tg -n tf 1903 5
66.000 Fe»
2 1923
BOSTON & WORCESTER ELECTRIC COMPANIES.
71.000
1935
ORGAN IZATION .— This is a voluntary association organized under a llowick Falls Illuminat’g C o l ________ _______
$150.000........ ^ _______ tf (Columbia TrustCo., N . V., Trustee.
trust agreement dated Dec. 29 1902. Its property consists of the en
65,000
1930
tire common stock, $60,000 preferred stock, $181,200 First Mortgage Hooslck Falls Electric C o \ ..........................
$75.000.............................tf Old Colony Trust C o.. Boston, Trustee.
bonds and $70,000 "notes payable” of the Boston A Worcester Street
*64.000
1923
R y. It has Issued 33,936 4% cumulative pref. shares and 34,614 common Bennington Water Power A ...........................
A Light Co $100.000— n tf American Loan A Trust Co., Trustee.
shares, no par value; but in case o f llqudlatlon prof, shares receive $100
12.600
1929
each before the participation of common. In Jan. 1905 was listed on Bos Bennington Water Power A ...........................
Light Co $30,000.........n tf Old Colony Trust C o.. Boston. Trustee.
ton Stock Exchange. Stock was Increased to prmont amount by the Issue
In July 1906 of 6,000 shares common and 6,000 prof., which was offered to Bennington Elect Co $175......................... * I - tf tColumbia* Trust* C o., N\° Y ?P Trustee*"5
000
shareholders at $105 for a btock of one preferred plus one common share.
St Johnsbury El Co 1st M - , t f 1909 5 M-S
80.000 Mar 1 1929
REPO RT.— For calendar year 1917 and years ending June 30.—
Cascade Light A Power C o . . . 1905
40,000April 1 1925
Fiscal
Divs. on
Other
Total
Preferred Expenses Surplus
Cascade Electric Light A1 1921
13,500Apr 1 1921
Year— It. A iV.Slk. Income.
Income.
Dividends. & Taxes, or Deficit.
Power C o.............................(Union Safe Deposit A Trust Co.. Trustee.
$12,650
$66,887
$67,872
$3,757 def.$4,742
1917.........$54,237
Bonds.—$1,158,000 1st A ref. 5s are reserved to retire underlying bonds.
1916-17-. 50.625
16.907
67,531
67.872
2,808 dcf. 3.140 Additional bonds may be Issued for Impta. and acquisitions at 80% of cost
1915-16.. 75.937
15,630
91,573
84.840
1,773 sur. 4.900 provided net earns, are at least 1 )4 times the int. charges on all bonds out
D IVIDEN DS.— First div. on prof, stock, $2. paid July 1 1904; 1905 to standing, lacL those to be certified. 1st A ref. 5s are red. on or after Oct. 1
1908, Incl.. $4; In 1909, S2; in 1910. Jan.. SI: 1911. none; 1912. to 1915. 1923 at 105 and bit. A depreciation reserve fund of 6 % of gross earn*,
incl.. $2. In 1916, $2 50. In 1917. $2. In 1918. Jan., $1. None since. commences Dec. 31 1918. V. 102. p. 1988.
Notes.— T h o n o t e s o f 1 9 1 8 a r o a d i r e c t o b l i g a t i o n o f t h e c o . a n d a r e
OFFICERS.— Pres., William M. Butler: V.-P., A. E. Childs; Sec.. J. F.
s e c u r e d b y p l e d g o o f 1 s t A R o f . M t g e . 5 s In a n a m o u n t 2 0 % in e x c e s s o f •
Bacon; Treas.. A. E. Stone— V. 103. p. CO. 2075; V. 105, p. 1305, 1308.
th e n otes.
R e d . , a l l o r in p a r t , a t 1 0 0 a n d i n t . o n a n y i n t . d a t o .
in te r e s t
B oston & W orcester Street Ry.— Trolley.
p a y a b l e in N . Y .
V . 106. p . 716.
Dividends.— 5% yearly ha* boon paid regularly on pref. stock since 1907.
ORGANIZATION.— Incorporated in Massachusetts on Nov. 15 1901
E A R N I N G S .— F o r c a l. y e a r 1 9 1 7 a n d y o a r s e n d in g J u n e 3 0 :
Franchise perpetual.
Owns th e 'Framingham Union 8treet Ry., FramYears—
Gross.
(Net (.after Tax.) Bond Int.
Surplus.
l ngham Southborough & Marlborough Street Ity. and the Marlborough
$ 2 6 6 ,6 0 6
$ 1 5 2 ,9 8 6
$ 1 1 3 ,6 2 0
& Framingham St. Ry. In March 1907 Mass. RR. Commission granted 1 9 1 7 .....................................$ 7 1 4 , 7 4 5
1 9 1 6 - 1 7 ...........................6 7 '2 ,9 5 1
2 8 8 ,7 3 3
138 174
150 559
right to do an express and freight business over emtlre lino.
2 7 0 ,8 0 1
1 3 9 .9 4 2
130|859
On Feb. 21 1911 Mass. RR. Comm. auth. an issue of $397,200 0% cum. 1 9 1 5 - 1 6 ............................ 5 7 0 , 1 2 3
($100) pref. stock (auth. by stockholders Feb. 2 1911). o f which $297 000
R O A D ,A c .— O p e ra te s 5
m i l e s o f , t r a c k in
B r a t t le b o r o . O w n s h y d r o
was used to retire like amount of common issued In 1910 (V. 90, p 625) and e l e c t r i c p l a n t s a t G o r h a m , B r a t t l e b o r o , B e n n i n g t o n , S t . J o h n s b u r y a n d
remainder to fund Boating debt. V. 92. p. 394. 525. 659. 724
H o o s l c k F a lls a n d a s t e a m t u r b i n e p l a n t a t D o v e r .
In Nov. 1912 made a contract* with the Boston Elevated Ry. for the
O F F I C E R S .— P r o s ..S a m u e l I n s u ll; V . - P r „ H . L . O ld s ; S o c . , I I . H . B e c h
operation o f express cars over that company’s tracks to the freight express
te l; T r e a s ., O . A . F o r r e s t .
G e n . o ffic e s , B r a t t le b o r o , V t .— V . 9 5 . d . 1 7 5 0 '
- terminal on Harrison Ave.
V . 98, p . 156; V . 102, p . 1988; V . 106. p . 6 0 8 , 7 1 6 , 1037, 1127.
Rates.— In 1909 single-fare unit raised from 5c. to 6c. On Oct. 1 1917
adopted, with thq,approval of tho Mass. P. S. Comm., a schedule based
on a rate o f 2 cents a mile with a minimum of 6 cents for a single fare. V.
105, p. 1308. In July 1918 fares were Increased to 2)4 cents per mile;
THE BRISTOL & PLAINVILLE TRAM W AY CO.
minimum charge o f 6 cents unchanged. Freight rates were also advanced
ORGANIZATION.— Incorp. Sept. 21 1893 In Conn. Franchises per
On Nov. 24 1916 there were Issued 600 additional shares pref. stock at petual. Road first openod Aug. 12 1895: merged with Bristol Electric Co.
$100 and $60,000 1st 4)4s at par for paying off floating debt Incurred for Mar. 31 1897; steam heating plant Installed In 1902; Terrvvllle branch
Improvements and for equipment.
opened In 1903, Woodland St. branch opened In 1906: gas plant Installed
In M ay 1917 tho P. S. Comm. auth. the Issue o f $270,000 additional pref. In 1906; underground system Installed In 1916. In addition to railway
service, furnishes electric light and power In Bristol, Forostrille and Terrystock and $10,000 additional 1st M . bonds (not issued up to May 1918).
gas In
STOCK AND-BONDS—
Date. Interest.
Outstanding
Maturity. ville; AugustBristol, Forestville and Plainvlllo, and steam heat In Bristol.
In
1908 sttTck dividend of 50%
Stock, com ($100)----- ------------------ -----------$2,025,900 Dec' 17. 1H standing amount toa$375,000. V. 87, p. 98. was declared, Increasing out
414.
Pref, $457,200 ($100) 6% cum..........
M-S
457,200 Sopt 18 3%
In
was
Best & War 1st mortgage, $2,-1 1903 4)4 g F-A
2.400,000 Aug 11923 being Oct. 1914 stock 1915.Increased from $375,000 to $562,600. now stock
Issued May 1
In Oct. 1916 stock was further Increased to
500,000. gold ($l,000)c*tf(Interest at American Trust C o.. Bos., Trus $618,800, and stockholders were offered tho right to subscribe for uew
Fram So & Marl 1st mtg . tf | -----5
60,000 Jan 11919 8tock pro rata at par, V. 103, p. 1087.
„ ,
,, ^
l Interest at American Trust C o.. Boa., Trus.
STOCK AND BONDS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
Notes payable D er'31 1917................ ..................... * 1 2 0 .0 0 0 Q-F
$618,800 Aug 18. 2%
Stock, $1,000,000 ($ 1 0 0 )...................
* Of which $70,000 is held by B. A W . Electric Companies.
let mortgage $600,000, goldf 1905 4)4 g M -N
540,000 Nov 1 1945
t
On pref. 3% semi-ann. since Issued. On com. paid 3%
($500 A $ l ,000)-----------n tf (Interest at Bristol National Bank, Bristol'
July 1? 04: aI"° 3% semi-ann. until Dec. 1908, when 1)4% was paid. In
Subject to call at par---------(Treasurer of State of Connecticut, Trustee.
1909. June, 1)4% ; in 1910, Jan., 1)4% ; In 1911, Dec., 1%; In 1912, June.
1M % : Dec.. 1)4% . In 1913, 2)4% . In 1 9 1 4 .3 % . fn 1915. 2 )4 % .
D i v i d e n d s . — In 1899 to 1909, Incl., 6 % per annum; 1910. 7% : 1911 to
In 1916, 3 % % . In 1917, June, l t f % ; Dec., 1 \ i% . None since.
and incl. Aug. 1918 8 % per annum.
BRATTLEBORO, VT.
BRISTOL, CONN.
SEPT., 1918.]
E L E C T R IC
EARNINGS.— For cal. year 1917 and years ending Juno 30:
year-
W
“ iB T
" C
D ia n a s .
Surplus
\ iiir tili\ l
m
* «
1914-1511105.317
30.901
53',644
38.002
30.000
16.943
ROAD Ac.— Operates 13.74 miles o f track laid with 58.60 and 72-lb.
T-rall connecting Bristol with Forestvlllo, Plalnvllle, Lake Compounce and
Terryvillo. Standard gauge, 34 cars, 3 snow plows and 1 work car.
OFFICERS.— Chairman of board. Chas. H. Tenney: Pres., A. B. Ten
ney- v
L) E. Manson; Sec.-Treas., Morris L. Tiffany, Bristol,
Asst. Treas., E. A. Bradley. General Managers Chas. II. Tenney & Co..
Boston. Mass.— V. 97, p. 1662; V. 98. p. 154, lo35; V. 103. P- 1087.
,
B R IS T O L , T E N N .
BRISTOL TRACTION CO.
,
, ,,
.
Sold.— B. L. Dulaney, former President o f the road, andhlsaRsoclates
on Sept. 17 1917 purchased the property at foreclosure sale for 3-0.000.
Operation of the city lines was discontinued and It>'3 f ^ ^ ^ h V l R j b ^ o o
,
tracks and other equipment will be disposed of. It i s?
“
,rc y 1 0 5
Valley lino will also bo discontinued. V. 100. p. 3755. Compare v iuo,
p. 1801. The following bonds wore outstanding against the property.
nAMDfl
Date
Interest• OutstatuIinQ. Maturity*
MS
»
°
<*1.000>1 S H t ^
o .. W a a h f f i r o ^ T ^
P R O PE R TY.— 15.3 miles standard-gauga electric line In Brlstcd and
between Bristol and Big Creek P a r k , on the Ilolston River. 11 passenger.
1 freight and 1 flat car.— V. 105, p. 715. 1200. 1801, V. 100, p. 2755.
R A IL W A Y S
13
v
n 3Q 9- V
1 0 7 p 7 0 3 : a ls o u n d e r " R a p i d T r a n s it in N e w Y o r k ,
in v
104
n
257- V . 106, p . 87. 296. 1462.
T h e co s t o f con stru c
t io n o f t h e c i t y o f lin e s in t h e D u a l R a p id T r a n s it S y s t e m u n d e r c o n
t r a c t s N o s . 3 a n d 4 (in c lu d in g b o t h th e I n t e r b o r o a n d B
R
T
sec
t io n s ). n o w u n d e r c o n s t r u c t io n , w a s o r ig in a lly “ tim a t e d
n n H 4t h e ito tL l
(n o t in c l. a llo w a n c e s fo r t h e e x p e n s e s o f t h e P . S .
000
but
c o s t o f c o n s t r u c t i o n a n d e q u ip m e n t t o t h e B . R . T . a t $ 6 5 ,0 0 0 .u u u . o u i
b e c a u s e o f a d d it io n s t o t h e w o r k a n d in c r e a s e d c o s t s d u e la r g o ly t o w a r
c o n d i t i o n s t h e s o a m o u n t s w ill b o e x c e e d e d .
T h e t o t a l c o s t o f t h e w h o le
u n d e r t a k i n g w a s e s t i m a t e d a t 8 3 3 0 . 0 0 0 . 0 0 0 b u t Is n o ' v
E.* n b
to a b ou t $400 000 000.
O n t h e B . R . T . s y s t e m a b o u t 9 9 m ile s o r n e w
t r a c k h a d b e e n a d d e d u p t o J a n . 1 9 1 8 t o t h e 1 1 5 m i l e s I n u P | r^ | o n
1 9 1 3 , th e n e w fa c ilitie s r e p r e s e n tin g a n in v e s t m e n t o f o v e r 8 S t .0 0 0 .0 0 0 .
o f w h ic h 8 5 4 .0 0 0 .0 0 0 b y t h o c i t y a n d * 3 0 .0 0 0 .0 0 0 b y t h e c o .
See un der
‘ • R a n ld T r a n s i t in N . Y . * ‘ in V . 1 0 6 , p . 2 9 6 , 1 3 4 5 , 1 7 9 5 .
A s o f Ju n e ou
1018
th e N
Y
M u n ic i p a l R y . C o r p . h a d e x p e n d e d in c o n t r ib u t i o n t o
e f t y - o w n e d lin e s $ 1 1 1 6 0 P 0 2 : o n a c c o u n t o f e q u ip , o f c R y - o w n e d U n a s.
5
811 245 213
a n d f o r a d d ’ n s , o x t s . A i m p t s . o f e x L s t in g l i n e s , $ 3 6 , 0 9 1 , 1 6 2 ,
I t o t a l o f $ 5 8 ,4 9 9 ,8 7 7 .
T h o 3 d t r a c k o n t h o F u l t o n S t . lin o b e tw e e n
M a n h a t t a n J e t . a n d N o s tr a n d A v o . w a s p la c e d in o p e r a tio n D e c . 2 7 1 9 1 5 .
O n D e c . 2 3 1 9 1 6 th e e n tir e t h ir d -t r a c k in g
B ro^ w a y E le ^ t^ w a s
p l a c e d in o p e r a t i o n b e t w e e n M a r c y A v e . a n d M a n h a t t a n J e t .
O p e r a tio n
o f th e L ib e r t y A v e . e le v a t e d e x te n s io n w a s b e g u n S e p t. 2 5 1 9 1 5 .
O n A la y
2 7 19 1 7 th o e le v a t e d e x te n s io n t o J a m a ic a w a s p la c e d m o p e r a t io n b e tw e e n
C y p r e s s H ills a n d R ic h m o n d H ill.
O p e r a t io n o f th e M e t r o p o lit a n A v o .
t r o l l e y lin e e x t e n d i n g f r o m D r y H a r b o r R o a d , Q u e e n s , t o J a m a i c a A v e . ,
w a s b e ^ u n S e p t 2 5 1 9 1 7 . O n J u ly 2 1 9 1 8 o p e r a t io n o f th e J a m a ica A v e .
e le v a t e d lin e f? o m G r e e n w o o d A v e . t o t h e t e r m in u s l n J a m a i c a
begun.
T h e n e w C u lv e r r a p id t r a n s it lin o is e x p e c t e d t o b o p u t i n t o o p e r a t io n
b C S<!eC N ^ Y ^ M u n i c i p a l
R y . O o r p .— o r g a n iz e d t o c a r r y o u t c o m p a n y ’*
a g r e e m e n t w ith c i t y — o n a s u b s c Q u c n t p a f? 6 . _ _
, . , „ ,
t * T n e B r o o k l y n C i t y R E C o . 1* h e l d u n d e r a 9 9 9 - y c a r l e a s e d a t e d F e b . 1 4
1 8 9 3 g u a r a n t e e i n g a ll f i x e d c h a r g e s , o r g a n i z a t i o n e x p e n s e s t a x e s a n d 1 0 %
r l i v n n g i ‘> 0 0 0 (MX) o f s t o c k ( p a r $ 1 0 ) .
T h e l e a s e Is n o m i n a l l y t o t h e B k l y n .
H e i g h t * RR. C o m b a t t h e B r o o k l y n R a p i d T r a n s i t Op. o w n . t h e e n t i r e c a p
it a l s t o c k o f t h e B r o o k l y n H e ig h t s C o .
In 1 8 9 8 th e H e ig h ts C o m p a n y
le u ia d t h e B r o o k l y n Q u e e n * C o u n t y A S u b u r b a n R R .
T h e le a s e w m r e
n e w e d v e a r b y y e a r , r e n ta l b e in g fix e d c h a r g e s , ta x e s a n d o r g a n iz a t io n « Seu*M
O n J u ly 1 1901 th e B Q O . A S b e g a n o p e r a t in g s e p a r a te ly a g a in .
R n A p r il 1 1 8 9 9 t h * H e ig h t * C o m p a n y t e m p o r a r i l y le a s e d t h e N a s s a u E le o t r l c RP .
R
L a t e r p e r m a n e n t le a s e * w e r e m a d e , b u t o n J u n e 3 0 1 9 0 4 p r e s u m a
b ly iu c o n s e q u e n c e o f a d e c is io n ( V . 7 9 . p . 1 0 2 ) c o m p e llin g th e I s s u a n c e o f
fn n s fn N
th ® Im r i o f t h e N a M S U E lCCtPiC R R . W&8 CAQC s Im I
* T h e B r o o k l y n * H e ig h t s R R . in A p r il 1 8 9 9 le a s e d f o r t h e p e r io d o f 9 9 9 y a w
t h e P r o s p e c t P a r k Sc C o n e y I s l a n d R R . , t h e N e w Y o r k Sc C o n e y I s l a n d R R .
A n d t h e P r o s p e c t P a r k Sc 8 o u t h B r o o k l y n R R . . b u t t h e le a s e s o f t h e s e c o n i p a n l e s w e r e ^ a ^ n e d In M a r c h 1 9 0 7 t o S o u t h B r o o k l y n R y . w h i c h h a d b e e n
S o a a ir e d b y p u r c h a s e in F e b 1 9 0 2 .
V . 74. p. 479.
in J u ly 1912 b o w e v e r *
th e S o u th B r o o k ly n R y . a c q u ir e d 4 9 5 o u t o f 5 0 0 s h a re s o f I
p - & |o.
B k l y n . s t o c k a n d 8 2 0 o u t o f 1 .0 0 0 s h a r e s o f N . Y . - A O . I . ( V . 9 5 . p . 4 7 ) .
101. p .
a n d I n O c t 1 9 1 5 w a s a u t h . t o p u r c h a s e t h e P . P . Sc C . I . R R
1464)
In S e p t . 1 9 1 8 . h o w e v e r , th is t r a n s a c t io n w a s s till p e n d in g .
The
S o u th B r o o k ly n R a ilw a y o w n s th e d o u b le -t r a c k r o a d e x t e n d in g fr o m N e w
Y o r k B a y n e a r 3 8 th S t ., B r o o k ly n , t o 3 8 th S t. n ea r 9 th A v e .. B r o o k ly n ,
a n d i n J u n e 1 9 0 7 I n c r e a s e d I t s s t o c k f r o m $ 1 5 0 , 0 0 0 t o $ .> 0 0 ,0 0 0 .
BROOKLYN, N. Y.
BROOKLYN RAPID TRANSIT (See Maps, pates 14 and 15).
ORGAN IZATION .—Organized Jan. 18 1890, per plan In Chronicle,
v «n n '1 1 4 5 to succeed to the property of the old Long Island Traction
a •radicate headed by the late ex-Governor Flower
m r t F r a n t r o l I* not a railroad corporation, but was orm?<?er^he Business ^ 0^ 0 ^
Corporation law or New construction and stock*
ganlzed under thei
tQ aW ,n thfi York to hold the equlp?^ntb nf<
J
rai?ro^uls OnJuno 7 1917 Gov. Whitman signed the Thompson
mfl"t makhie°nosslblo the consolidation of the holding company and its
various su sid?ad^ nto a single public utility corporation. V 104 p .2342.
g
v
—The following I* a »tatemont of the stocks and bonds owned
by the Bro'oWyn Rapid Transit system June 30 1918.
S loe ks.
-n.it a! stock Brooklyn Heights UR. Co. (par)-------------$200,000
Entire canital stock Bkln. Q’n, Co. A Suburban lilt. Co. (par). 2.000.000
Entire com stock of the Nissan Electric RR. C o., par
.
8.500.000
6 3 ,9 4 3 . 7 5 shares out of 65.000 shares of the 4% cumulative pref.
stock of Nassau Elec. lift C o., par - - - - - - - - ------- - — - - - - - 6.394,375
* 7 85fl 85 shares out of 50.000 shares of the 5% non-cumulatlve
47nref stock of the New York Consolidated RR. Co., p a r..
4.785.985
Purchase of Coney Island & Brooklyn RR.— I n D o c . 1 9 1 3 t h e s u b s i d i a r y
1 3 4 3 0 8 .3 f shares out of 139.000 shares of the common stock
C o n e y I s la n d A G r a v e s e n d R y . r e c e iv e d p e r m is s io n fr o m th e P . 8 . C o m m ,
of the New York Consolidated RR. C o., p a r ........................... 13,qko non t o p u r c h a s e $ 2 , 6 3 7 , 0 0 0 o f t h e $ 2 , 9 8 3 , 9 0 0 o u t s t a n d i n g s t o c k o f t h e C o n e y
350.000
Entire stock of Coney Island A Gravesend Ry. C o., par.............
a.xn nnn
64.787 I s l a n d A B r o o k l y n R R V . 9 6 . P - 1 0 2 0 . 1 0 8 8 : V 9 7 . p . 1 8 9 7
047 87 shares of Brooklyn Rapid Transit Co., par------------------O n M a y 2 1 190-1 t h e B r o o k l y n H e i g h t s R a i l r o a d C o . s i g n w l a n a g r e e
600.000
Entire capital stock of Houth Brooklyn Ry .p a r-----.....
m e n t w ith th e c it y fo r o p e r a t io n o f t r o lle y c a r s o v e r th e n e w W illia m s b u r g
q 800 shares out of 10.000 of the American Railway Traffic Co.
S u r f a c e c a r s b e g a n t o c r o s s th is
980.000 B r i d g e S e e V 7 8 p . 2 0 1 3 . 2 3 8 6 .
’ (owned by Transit Development C o.), p a r . . . . .......................
I
.
.
9. p
08
dg
n
500.000 B r
Entire capital stock of the Transit Development C o., par...........
"ViVXXX w a isd fgoer-m ne d N o vi t h* 1$910040 , 0V .0 7 a p i t a. l 2 o f 4 . h Lca t eorn et -hhe a lB lrsi o w en eOdp e rya ttih eg NCe o .
,
w
600 shares of the Bridge Operating C o., par.................................
50.000 Y o r k U v s C ow p a n y ) t o 0 o pce r a t e l o( c a l ws e ir vhi c e o n t h fe b r i d g e b S e e V . 7 9 ,
m
2,000 shares of N. Y. Municipal Coro., par---. . . . . . . . . . . . .
200.000
d
6 2 6 7 T h r o u g h e le v a t e d tr a in s e r v ic e o v e r t h e W lllla m s b u r g h B r id g e w a s
925 shares out of 1.000 shares of N. Y. A Coney Is . RR. Co ...
92.5W
a
190
n
g 31
9
s
en
e
500 shares out of 500 shares Bros. I ark A South Bklyn. R R . C o .
Ro9’n«n Foi im u g unria tse do pS e p t .i n 1 6 o v e r 8t. h e OW l lAl u m. s b u r g1h 1 5 rti h e e c o n tdr atchte cbi e t w en a m tehl y
c
pa
e
erat
g
l a
B dg
an
ty ,
26,840 shares out of 29.839 shares Con. Isl. A Bklyn. R R ------2,6? « ’2™ t h e B r o o k l y n H e i g h t s R R . . t h e B r i d g e O p e r a t i n g C o . , t h e C o n e y I s l a n d A
500 shares Bklyn. A North River R li. C o ----------------------------50.000 B r o o k l y n R R a n d t h e N e w Y o r k R a i l w a y s , a s a s s i g n e e o r t h e N e w Y o r k
100 shares Delialb Ave. A No. Bklyn. R R . C o---------------------C it v R a ilw a y s , w e re te r m in a te d b y B r id g e C o m m
K r a c k e . b u t o p e r a tio n s
25 shares Coney Island A Brooklyn Terminal C o .. ----------------a r e b e in g c o n t in u e d a t th e r e q u e s t o f t h e c l t y u n d e r te rn M r a r y p e r m it *
100 shares B'way Subway A Homo Bor. Car Adv. C o-------------oVJvi p e n d i n g n e g o t i a t i o n s f o r a n e w c o n t r a c t . O n N o v . 1 5 1 9 1 2 t h e A p p e l l a t e
27 shares Prospect Bark and Coney Island RR. C o.-----------------3,70') t ) l v i s i o n o f t h e S u p r e m e C o u r t , F i r s t D e p t . , a f f i r m e d t h e o r d e r o f t n e P . 1 .
9
e o n a i.
840,857.8,8 f r o m m i s s t o n r e d u c i n g t h e f a r e c h a r g e d o v e r t h e W l l l l a m s h u r g h B r i d g e f r o m
Bond*
•1st M 5% bonds Bklyn. Queens Co. A Sub. R R . ( p a r ) . . . . . . . *2.000,000 3 t o 2 c e n t s , o r t h r e e t i c k e t s f o r 5 c e n t s . V . 9 5 , p . 1 4 0 2 , 1 4 . 1.
1st con M Bklyu. Q’ n* Co. A Sub.(owned by Bklyn. H ta C o .) ..
.59-999
o
i
g
C
O
12 t
A
e
e
♦1st mortgage 5% bonds Brooklyn City RR. (par)....................... 1,8oI'nnn D l D e coifs iN n Yn. S u ipt r A maei n sot uB r o o2kdl y n e pi tty. , R R .— e dn d J u nne a8 u1n9a n i mhoeu s p p c ilsl aotn
v
.
Su
e
C
rt.
D
hand
ow
de
i
♦Refunding gold mtge. 4% . Brooklyn City R R ...........................
9Qn’ nnn a f f i r m i n g , t o t h e e x t e n t o f $ 1 , 7 4 0 , 2 5 8 p r i n c i p a l ( w i t h I n t . f r o m M a r c h 3
♦Gold 5% bonds Brooklyn Rapid Transit.....................................
30.000 1 9 1 0 a m o u n t i n g t o $ 1 , 6 1 6 , 6 8 0 ; t o t a l , $ 3 . 3 5 6 , 9 . 3 8 ) . t h e J u d g m e n t a w a r d e d
Ref mtg 4% bonds Brooklyn Rapid Transit C o------- - - - ----------2! ’2§?'S22
, p
8;
11
Ref mtg 4% bonds B R. T . (owned by Nassau El. R R .)--------- 1.76] 222 b ye t h e l o w e r C o u r t 0 (0V . 9 0B r . 5 5 y n V . 8 0 . p . 1 1 7 4 : g V .n 7 0 . p e 8B r ) In t h e s utiyt
A
l
)
s
Consol mtg 4% bonds Nassau Elec R R . . . ................................... 1-161 000 ( b Rg.u tno Ine c op reir 1 9 o n e yosf w h ocohk l t h e H eei gghht t s R R .. a l aaiim s td t h h o u h lo ohkal y n C ei e n
R
r
v
m
i
H i
C o c
e
s
ve b
Consol mtg 4% bonds Sea Beach R y------------------------------------®52'2o2 e x p e n d e d b y t h * l e s s o r in f u l f i l m e n t o f t h e t e r m s o f t h e l e a s e o f F e b . 1 4 1 8 9 3 ,
Jamaica A Brooklyn mtge. bonds............................................. j - 8 000
u
o
i
u g
o
lo e r
°
d
g
N Y. Municipal R.v. Corporation_________________________ 57,735.000 b h et mm d i f netd otfh e hj e dm mdei nite d f j t hdeg m w n t C 1 ,u7r4t0 b2f5 t e. c l uV l nI3 4 .l npt e r1«5t0 5 l. e a v t2a5*,
t
,
8
16
Coney Island A Brooklyn first consol, mortgage.........................
13.000 t o t ha o u i e s t o t h e ol i t ifg a t i o u t h e e a $ p e
B
a
n vubu
n
d
e
rt o
A ■# s
parties
, .* p 1 or
Coney Island A Brooklyn consol, mortgage......................
734 -222 Both p __rgtCityto luc uvikaviuu reducedp lt.« arllel v\d*t on flt h o 2C o u(lU JiP f.. Hp o fe a l% .
i n i « 1O in
l ^
t
%
Brooklyn y le—
1910
of 1
Brooklyn City A Newtown mortgage_______________________________ 7 -,|nu being retained By. In Julyand set aside Its dividend to 2% quar., w P ; 1%
quarterly
______
887,788.000 Oct. 23 1913 agreement of settlement wasin a special fund. V .^ Height*
executed by the Brooklyn
♦The entire amount of B. Q. O. A Sub. R R . 1st 5s aud Bklyn City RR. r r . and the Brooklyn City RR. providing for the payment of $1,650,000,
1st 5s: also SI25.000 out or the S925.000 B. O. RR. ref 4s held, and *26.000 of which $900,000 w a s paid In cash on Nov. 1 1913 and the balance was
out of the 830.000 B. R .T .g o ld 5s and 8250.000 B. R .T . ref. intge. 4» held, payable in quarterly Installments of $50,000 with Int at 5% (see annual
compose guaranty fund for performance of Brooklyn City RR. ( o. s lease. report for year ending June 30 1914 In V. 99. p. 348). Payments, how
New Subways and Extensions.— An agreement was reached In May 1912 ever were anticipated and the last $200 000 w a s paid during the 6 months
as to how the routes of the new dual subway system In lower Manhattan ending Dec. 31 1915. In July 1917 the co. resumed the payment of the
should be apportioned between the Interborough and Bklyn. Rapid Transit,
and the Court of Appeals at Albany having on June 29 1912 affirmed the ^UThe T r a n s i t D e v e l o p m e n t Co. was organized In April 1903 under the
decision of Justice Blackmar (V. 04. p. 1057) holding to be constitutional Business Corporation la w . with $25,000 capital, and Is owned exclusively
the terms of the proposed contracts with the Interborough and B R. 1 ., In the Interest of the Brooklyn Rapid Transit Co. It Is authorized to
On
■ *ormal contracts were drawn up by the B. S. Comm, and were signed on manufacture and sell power and to do genera contracting work
Mar. 19 1913. V. 96. p. 802. See caption “ Rapid Transit in New York March 1 1 90 7 special arrangement was made by which the mmpany furnishes
City” In V. 94, p. 1384, 1449, 1566: V. 95. P> 48, 111. 237, 1040, V. 96. power and takes charge of the maintenance and repair of ad the railway
n 0 3 . 136, 488. 718, 884. The new subway linos, built and to be built properties In the Brooklyn Rapid Transit system. Including their equip
ment. V . 84. p 569. In June 1907 capital stock was Increased to *500.000.
Jointly by the Brooklyn Rapid Transit and the city, are as follows:
Transit Development Co in
tract of
(a) Subway line traversing the Borough of Manhattan from the Battery Theacres In the Gravesend section ofDec. 1913 acquired »98, p. <2. af>°ut
90
Coney Island. V.
The
to 69th St., mostly on Broadway, and connecting by tunnel under the East requirement to supply a power-generating plant for the operation of rapid
River with subway lines In Brooklyn, with rights over the Brooklyn. Man
lines having been suspended by the
arrangements have
hattan, Williamsburg and Queensboro bridges. (The Board of Estimate In transitwith the Interborough Rapid Transit city,and with the Transit been
Co.
De
July 1915 decided to make the connection with the Queens lines by tunnel made
velopment Co. for purchasing power in Manhattan and Brooklyn, respec
under the river InsteadofoverthoQuoonsboroBrIdge.Com. V. 101.P 1554
Contract for tunnel awarded In Sopt. 1918. V. 103, p. 1033. It Is ex tively. Tho Transit Development Co. is accordingly largely increasing
pected to bo completed In 1919. V. 100. p. 1795. Operation of the ^Special*EnmrttsTTax S e t t l e m e n t s For decision allowing for obsolescent
new Broadway Subway from Union Square, Manhattan, to Coney in K g special franchise tax. see V. 91, p. 15 1. For settlement of taxes
Island via the Canal Street subway and Fourth Ave. subway, Brooklyn, for years 1 9 0 7 -1 9 1 2 . in clu sive, soe V . 1 0 2 , p. 1162.
was begun on Sopt. 4 1917. V. 105. p. 998, 1616. Operation of the
Mar. 27
Issued
Broadway Subway In Manhattan from Times Square to Rector St. was an UititTrsal Transfers.—On universal 1914 Public Service Commissionsurface
order providing for a
system of transfers among
begun Jan. 5 1918. V. 106, p. 188.
lines In Brooklyn, and this was accepted by the several operating companies
lb) Centre St. loop, connecting the different bridges and extended through
:1914.
Nassau and Broad St*., Manhattan, to a connection with the lower East In the Brooklyn Rapid Transit System, and became effective June 1before
new
1,008
River tunnel and the 4th Ave. subway In Brooklyn, with extensions to The ordero^der made a total ofV. 98, transfer points, as against 721
the
became effective.
p. 911, 10/0, 1692.
n
86th St. and Coney Island. Two tracks In the Centre St. loop were placed
Advertising.—On the
Its contract with the Inter-City Car
In operation Aug. 4 1913 (V. 97. p. 297) and tho other two wore placed In Advertising Co. on April expiration of company decided to handle the adver
operation from time to time during the year 1914-15. The reconstructed tising vending and nows30 1915. the
privileges Itself, and on
Sea Beach lino was placed In operation May 1 1915 from Sixty-first Street way Subway and Home Boroughs Car Ad vertising May 21 19In the Broad
( n
Incorporated to
and Third Avenue to Coney Island. The Fourth Avenue Subway was carrv out the plan. Joseph P Day Is Pros
\ 100 p 1831
formally opened June 22 1915 to Sixty-fifth Street. The extension
Atlantic Ate Franchise.- I n Feb. 1916 Mavor Mltchel refused to sign the
to 8Gth St. was placed In operation Jan. 15 1916. On June 24 1916 the franchise for a line on Atlantic Ave., Insisting upon the payment of the
New Utrecht Ave elevated branch of the Fourth Ave. subway was placed franchise tax from which the co. wished to be absolved
iu operation as far as 62d St.; on July 29 1916 line was extended to 25th arose over the Initial payment and the duration ofDifferences also
the franchise
Avo. and to Coney Island connection on July 21 1917. . Since early In
1918 trains over both tho West End and tho Soa Beach linos aro run from {8 ° F n e ' - l b i e D e lin L .—On Oct. 2 1915 Supreme Court Justice Erlanger
'Timas Square at 42d Street all tho way to Coney Island.
city'* suit against the Brooklyn Queens
(c) Subway lino extending from 6th Ave. and 14th St., Manhattan, dismissed the to collect $829,578 for the operation of ttioCounty A Subiirban
RR .. seeking
co » lines, in Brook
i-eross Manhattan, under the East River, to North 7th St., Brooklyn, and lyn and over the Brooklyn and Queensboro bridges b e , n i { ^
ZQ)
r’honce nart subway and part elevated through the Eastern District by Met- of the company's earnings during 1901 to 1907. plus a penalty of $467,258.
rnnnlltan Uushwlck. Johnson and Wyckoff Aves. tojolnthe Cypress Hills on the ground that the city l» not entitled to more than lt.<
line Contract for tunnel under East River was signed Feb 29 1916. nuas and bridge tolls.— V. 101, p. 1271. .This decision ivas affirmed by
Construction is expected to bo completed In 1919. V. 100, p. 1795.
tho Appellate DivLsion. Case Is now pending in the Court of Appeals.
id) Subway line In Brooklyn connecting Manhattan Bridge with the
W a g e I n c r e a s e s . — V. 103, p. 843; V. 105, p. 2271, V. 10<, p. 401.
Mortgages
Rapta
Brinb addRl'onhto tho abovo, tho co. agreod to build several extensions Transit.— In of Constituent Companies to Secure Advances nv Brooklyn to the
May 1907 the New York State RR. Comm consented
well as third track and make additions and improvements to Its then
existing lines, most of which work has already been completed. See Sea Beach R y., the Canarsle R R . and the South Brooklyn Ry.making
14
E L E C T R IC
R A IL W A Y S
[Vol. 107
/
16
ELECTRIC RAILWAYS
°of* ln^°hV0
«,°n i.2-?00 •OOOandW.OOO.OOO. respectively. to secure
fn rn tcdnwi
by those companies to the Brooklyn
mor? e7 a a™7*nced 7or additions, betterments, Jtc. In
Broo^!/a . VnL Elevated authorized a rntge. for $20 000 000
on
P n h i t n r > k '< CrlCi fo r «5.0q0.000 for wm e purpose; but In July 1908
9 ti
rjw i?/t8ervlco Commission denied application for the approval o f thaie lat
ter tw° mortgages. See particulars V, 87, p. 224. No bonds will ha Umari
J <
?oVl2rr,r,iy^0 K.^?se mtgea., which are created (Imply to secure the certlfl£**?! ®^lnd®
b,tedn«?s as Issued from time to time. The certificates cannot
w%L!fSt»e»i
^ y?*1 P*r and are deposited under the Brooklyn Ranlri
1
Transit first refunding rntge. V. 84. p. 1181. 1240 1550 001117,5 Kapla
♦n^hnfSD „ 1
1018 theico., on behaif o f Its soveral subsidiaries applied
Boarcl o f Estimate for auth. to charge, for tho duration o f tluPwar
and one year thereafter, a 7-cent faro on all lines with the eycention of
t''Vs0J h lnn,!/?r to and fron? Flushing. N orth Beach “ nd C oney L s f f l where
old ratas will prevail, and to chargo 2 cents for transfers no transfer to bo
issued on a transfer. V. 107 p. 180, 290, 401. On S ep ^ ’ lO 19? 8 Hied with
ciie i . o. c o m m , a schedule providing for a 10-cent fare on certain lino*?
T h rw i™ !???,^ aiU* lS glven to la b 0 effect 30 days from tho filing o f tho notico.
separatoPfW n c h ? ^ aS^ h l rer''«aSe<i 015 the ’iCg.a l ri8hts as expressed in tho
n
[VoL. 107.
f£
f
bonds pledged as security for tho old issue for n Z 10-year f i V o o m o ) 4 *
During *tho W’e 'o f t h o nnt<?eth 4s can bo released fr o n /th o old indenture^
i.« „ i1,5: tho Ido o f tho notes tho co. m ay pay no dividends upon its caoitni
g
stock in cash or in securities or scrip unless such securities or serin simii j~.nLsubsequent to rights o f n o te h o ld e r. T he note^ are red J l l o r i n n l r t l
ass' s^ssi
^
isn;
j s a a s n ^ d b iss*.fe“S v s ssj- S t S,a2^^«f,« S a s? ^ ,
-ssarisrTSroS^SrfT^Bfe ,1 ® m « i£ W
119d yi099d 8Ct a iiearing on the S t o ^ l l p t f T o T o i S ^ V ^ o l / p "
l?
K in t ^ !y
conversion of 4% bonds of 1902
bonds of constituent cos
V 96 n « i
mn ‘] klns i p’ exchanging or retiring
U
convertible Into .tock, par for parTefore J ^ y l 1914 and $29 6 19
•rty covered by the mortgage, see V. 62. D. 1138
000
ZZZ
See aim V #7 ° « PoSS
?
m^S'terTe^MMOO^SISrtd^ir^SiSd/S,!0 v •» 2 . p.
bonds are subject to call at 1 10 and Interest
i^fSS
1437. 1 hose
Rrnnvii0trt authorlied Issue of first consolidated mortgage gold 5 s of tho
Brooklyn Queens County St Suburban RR Is $4,500 000 of which Si flirt
MO*™ reserved for extensions, on which they will be a first l i e n * o r the
Finance C oro
o f S17 32n^nnC
°nramvvge^ SSr .an advanco from tho War
: »
! . »
«
s a s s a a s w a f ir f c &
a ,
and $700 face am ount o f new 3-year 7% Secured G o l d n o t ^ or
non
fa ce amount o f new notes. Holders o f over W
T ill
r 1 r ’° 00
offer the plan was V S r e d op cra t^ o°J u ly i T l I l S ^ t A o
n ia M
i#
Stock, $90,000,000 ($ 1 0 0 ) .
'
o j
' *7a 1*2V ?8'
Ma
aluritV
Brook Rap Tr 1st ref rntge f lfioi*
dvti
T See text
S150.OoS.000, gold. c*&rtf (Central TrSst C o..
at m a \ ® '^ t h r B B RCTRyv4 T03.°pd8 dUe t Eo B
h
43
/ 'P
dUTlmPM 1 19lwf
a ls 0 t? ken up by the B - u - T." at maturity
6S'
bvTthe urooitiyn Heights RR. M Besides covering the mileage on each own«d
Br^kl'rnK l e vhS n
n b< r
j ]ds are g,uar- (by end. dlreetlv bond)
oy toe
IsllndA Ora*vesbend ,,upPj® m ^ l agreement upon the stock of the Coney
s
iBiana A ttrarcsena Ky. and will become a direct lieu on this line xhnniH i#
t
A u t h o r ? , S li N»m » u B l^.rlc. Of the tt.tel of Jlh.Otlo 000 hondn
h*
‘i . ? n 7 K l l e X r i ? r V l T * 3 « r <,3-2<2
00»> '■ Pf'»f M S .
as
B U T consol and ref rntge/ 1918dS < P 000,: n g % 2 & (11.000. $5,000)
*
„ S I5 0 , 0 0 0 ,0 0 0 ................ . . Central U n io n T r,,«f r £ ° t^ t
.
1028
™7 JoO O jj^™ ”. f ° l d c * 'n tf[d ^ n f at? Central ,i 6 -9
A04J0® Op‘ 1 19-15
B It T secured notes $60,000,-1 1912
5 entral Tr. Co N . Y ., trustee.
It T secured notesd
$57,735*-1^ 9 ^ S*‘^ ^ j* j* r** T
B
1st consol M, $6,000 OOOntf 1891 8 a<? t
Brooklyn Heights UH first/ 1891
5 A-O
^ 'l l n n n n A
July M S I !
mortgage. $250,000 ___ tfiln t at Penning t ,
8 ,009 .Apr 1 194 *
Brooklyn Queens Co St Sub/ 1894
5 » j .j T
*i /inn ^ n k y? 3 tI? steofirst M. $3,500,000 .n tflG u ar Trust Co M«w v92l?°? J
.uly 1 1941
First consol M guar p 4
isok
s „ \P'<rNeyl L ork- trustea.
(end). $4.500,000.-P n tf{cen {ral T rustee? m I 8:vo'°i? 0, J uIj 1 1941
Jamaica & Brook RR flra tlS S Q
i t
trustee,
mortgage. 8240.000. t/l Central Trust’ c o
? * a 11930
Brook yn Union Kiev 1st M r isoo
s „ , 5 , ° • J * !!„ y o rk . trustee.
•?
guary 8l6 000.o6o -J . ! t f I n i L OenVai Tr p10'009'000 fo b 1 1950
Kings Co Elev first rntge f iRoo
CS-u77- v -> trustee.
k°QP> cons M
Nassau El RR Co .*(*u )n tfjInt at Central'Trust c M ^ T r u s t ^ 49
4 g J-J
plO,347.000 j ’an 1 1 9 5 1
bonds ($ 1.000). $15.000,- 1898
_ 0 0 0 ------------------- c*Jcrtf
.Ta K S T b . n » « !
First mtge bonds (closed) tf
o
r
t
W
0
g
a
7^
N am eBrooklyn Heights R R ........................
“ "«*•
Tf lrf
S' c™ ? Sidings.
1 851
0 198
3156
Total
MK 9 nK
T
V
r -* „ s» » .p o o m. 7 , ,»M
7 * l r .^ x ilh ly n . trustee.
Atlantic Ave. gen m
% TLE *iS& Th.^sK K £ * “'1M
,
g
e
00- - ^ ^
!
1“ “
f o r ! 1931
' l l
Coney Island S Gravesend R y ._
t
3 950
3 i« h
South Brooklyn R a i l w a y . . . . ; . ; . ; ; 459
3 i 9S
Prospect Park & Coney Island R R . . .
9.281 8 3 9 9
Coney Island S Bklyn. R R ................. 22 841
t
22 156
Now York Consolidated RR. and
T ,K /.o h k^
s X i X " 1
'
.
.............Trackage on Wllllamsburgh Brfdg»—
Surface lines_____________
N .Y .M u n .R y .— Lessee City of N-Y.
iffi
' “
i l7 aia f1 4s7 i'?o«
l
ll
,
141.081
» i
------
a .™
3.509
,,
1 -7 0 7
, 7 ,,
2 2 .4 3 4
22‘.386
62 039
« .7 » 3
!™ 2
1 741
7 „‘ S«
9 fl nn?
348
8 327
7 mo
7 '° 39
(>10
2 0 .0 0 2
6 7 .8 2 2
ESSpW!.?
S o" S,ore0t S ; " w ' oim S m C‘ v %
8n,dtl? f t unli,
t
5swvx.
ssfffl?.
at , totS
s S a S a a B S w ^ a f l® ? ! * ^
C °M° $2^,000,(K)0lygol!|,t.C n 8t)f IM M can tlie'T n w t C o 1’ ^ 7 '00^ Ji ,y 1 1948
On
U
Consol mortKai?e $10,000 -/ 190 4
4
a f U ^°»V
y
St
Trustee.
P,C
sTtTUBNT
S
c o M P A m n I Z Y B A R s 'W o m a
- " “ a........ 771.011 271 760.5194197 728.405?M7 6 S 9 .& 7
K 7 M J S ,26« «
KxpfnseV— ................... $30,500,497 $29,504,019 $27,048,772 $207427’.686
*
o S S i o 2 ? r p ° , S pl“ ‘
c
releaslng ^henT from ^ 6™I
th labhRy'^oHcalh UOt kn0Wn) *>ave b n ‘stamped!
J«
Oct.7903. when Colonlal°Tr^st
Y
(sfnce “ iSSfitStSrt wl'tlIH2rtg*K® unt"
A7 ^ n ' c Y u d ^ 1 « W h A i q U
B^
/ Not Including $8,000 owned by B. R T * “
6
P d Translt C o‘
?
nc ur ng $7,000 held In treasury.
? Not Including $732,000 owned by B. R. T Co
K
M
\
*
i s t e s i a i s s f t ' v r 1 °°-
Stork DM ng *24.182.000 owned by B R T Co
O OoloOoTtock^ald^n^Lss^snien°ofO ne?*Ifnnrl / T ric «°"> ‘ he old $30.re luce/l to $20 000.000. and $7' 0 0 0 Ootf of’ /w h'.fnu' t^e.olcl ,tocIt bol'>g
against $3,000,000 of Long Island’ S i P o n
«n W n .
•uth°r'*«d
/w T /Unw ropor,ted outstanding is h e ld l treasury^840 St0Ck ln adhition
« .r f« ;7 .T ? f1 a
aa
s y & o e t a " ,“ ‘
8
r
paid during life of 3-year notes
Damages & legal expense 1,194,715
General expenses...........
811 023
Freight & mall expenses
280 100
Amer. Ry. Traf. Co.exp.
288
T “ “ V ...........................—2.443.652
,‘ 5
’ *
'
No cash dividends may bo
7 J ffi
2®
S r a w
::::®
’925’ l21
vny’c r i
302'103
6 961
1.837:683
«
*
° ’o 9 o ’o«n
S,^*260
338 s i l
1.700 035
i i
1!
(lb 4 . bl 7..3'/8 (iif 4,167,:;'/ s
p.p K ^ v i ^ * i S 0^ f 7£ :
I;'^
'Nichida3
J. H. Bennington: Comp!: Howard Ab'd V' Officii ^ c n 'n t o n '^ ^ i i J j 00' ’
- V . 107, p. 81, 180. 290 ; 401. 603, 69L 691. 703', 1099 1191
' k‘y n '
EA^F^b^TitANSIT OO.
a0
tlon o ?th ^ [ B ^ k ?^ 'U n io “ ^ieVatA R ft % e neich,9iU M a . ^
ed
‘ hla83R 'oin of 5
the i ’l 3^900 0 0 0 ° klyn Rap,» I ra,5s“ ° " n" or «>ntroT« i n S a o ?
d
000.000 preferred stock’.°<)0 C mrU° n 8t° Ck an(l *4-785-988 out of the $5!°
Owns all the outstanding stock or the N. Y. Municipal Rv n nm
T r a n K o ^ t f '. o K r I X ^ 0 0 0 S ? t h ?
gB r o o k l ^
R a p id
p a y a b le at t h e f le n t r a lT r u s t c S .V o n t h . B ^ o W y n ^ t l n
t s a uo s >«
a t c o m p a n y a o f f i c e : o n t h e N a s s a u E l e c t r i c b o n d s in J / , h 1 r B fu n d [ n g b o n d *
n u e a n c l W e s t E n d la s u e s , a t ^
C e n t r a l 3>
c „ ’ v DCl^ d l n ‘ A f t a n t T e Are
Q u e e n s C o u n t y St S u b u r b a n r a o r t r a g M a n d t h - f . N
7 • o n th e B r o o k ly n
}
I # ™
f
,~iE g l S “
!
OiVi’ lonVlS
! « «
S ills
lj040!685
7rts on?
304 666
199
2,351,104
- i n
e M
p N °t InoludlnK iVdHkOTO o ,y n e T b y % ^ B ° T y OoRaPl11 TraQslt C o -
J Not Including $13,000 held In treasury.
| ;® S S ?
i S
S
H
S
g
i S
are In operation from Shcepshoad Bay to Culver Terminal. It Is believed
that, the entiro terminal will bo ready for uso boforo the end of 1918 with
the exception of tho connection with the city-built Culver lino. Tho
latter Is expected to bo put in operation before Juno 30 1919.
F a v o r a b l e D e c i s i o n — I n April 1918 the Appellate Division of tho Supreme
Court upheld tho decision or Supreme Court Justice Erlanger in April 1916,
holding that under the contract with the city, dated March 19 1913, tho
comnanv was relieved from the obligation of paying tolls for tho operation
of cars over tho Williamsburgh Bridge. V. 106, p. 1576.
Division of Earnings wtih Cup.— As the New York Consolidated holds
under assignment and leas*, all the right* acquired by th* New York Munici
pal By C'orp. In the latter * contract# with the city, all the earnings will
accrue to It. Th* division of earning* will be on the following basis:
1 To the company $3.600.000. a# representing the net earnings of the
previously existing railroads which went to form part of tho now rapid
transit system. Out of this reservation tho company pays interest cliargas
on capital investments prior to Mar. 19 1913 in tho then existing railroads.
2. To the company, 8% on lie aew Investment in construction and equip
ment prior to the beglnnlni of permanent operation and thereafter Interest
and 1% sinking fund.
. . . .
...
.
. .
. .
3. T o the city. Interest and 1% sinking fund on its investment in coet of
construction. ^ reraaInlng after making provision for a moderate contin
gent reserve fund. Is to bo divided equally between the company and th*
city. The company's preferential payments are to be cumulative.
Results of Temporary Operations of Lines Under Contract with the City
Y ea r en d .
Y e a r e n d . A u g . 4 13 to
J u n e 30 ’ 18. J u n e 30 '17. J u n e 30 ’ 18.
Total revenues
___________ _____ §13,057,406 $11,371,282 §50,723,755
Tota deductions___________________ §8,296,955 §7,012,831 $31,439,352
Company’s preferential___________
5,166,201 4,608,823 20,727,431
Total
_____
D eficit in com pany’s preferentials—
Interest paid by city on its cost of con
struction of property placed In op
eration phis sinking fund of 1 % - - -
$13,463,157 §11,621,654 $52,166,783
$405,751
$250,372 $1,443,028
1,428,610
2,238,516
4,985,854
Total deficit_____________________ $1,834,361
$2,488,888 $6,428,882
Deficits in city’s charges during temporary operations to bo added to
tho cost of construction of city-owned lines. Compare V. 106, p. 1348,1795:
V. 107, p. 703.
Outstanding. Maturity
STOCK AND BONDS—
Date.
Com stock. $13,900,000 ($ 1 0 0 )-----$13,900,000 July T 8 2)4
5.000.000 Ju ly ’ 182 "
Pref stock, $5,000,000 ($ 1 0 0 ) ,-----16,000,000 Feb 1 19a
Bklyn Uu El lit M . $ 18,000,- f 1899
000 gold, 4% till 1905.{Interest at Central Trust C o ., New York
since 5% ($1,000)...........t fl Trustee.
Kings County El 1st M . gold,/ 1899
4 g F-A
7,000,000 Aug 1 1949
$7 000.000 ($1,000) .c* n tfl Int. at Central Trust C o., N. Y ., Trustee.
Bonds.— Bonds of the Brooklyn Union and Kings County Elevated RR.
companies are guar. p. & 1. by Bklyn. Heights B it., guaranty to be stamped
upon bonds upon presentation. In Feb. 1902 began stamping bonds with
guaranty. Certain days each month are designated Tor stamping. See
V 106 p. 1 8 8 . Doth Issues are listed on N. Y. Stock Exchange. The
$650,000 Sea Beach By. 4% bonds due Sept. 1 1916 were taken up at ma
turity by th* Brooklyn Bapld Transit Co.
DIVIDEN DS.— The first div., of 2% , on theold Bklyn. Union Elevated
r r . pref. stock was paid June 29 1901; In 1902 and 1903, 3% : In 1904,3)4 %
In 1905. 4%; In 1906. 4)4% ; in 1907 to 1911, incl., 5% per annum: In 1912
Juno, 2)4% ; Dec.. 6% . On com., 1st div., 5% . paid June 10 1910; Dec.
2)4% - ,n 1911. 5% . In 1912. June, 2 )4 % : Dec., 6% .
In Nov. 1912 became part of the N. Y. Consol. RH. Divs. on both
classes of stock of the latter have been as follows: In 1913. June, 5% ;
Sept.. 1H: One , 1 H . In 1914, 8 )4 % . In 1915 and since. 10%.
B O A D . — Embraces 2 0 9 . 5 0 3 miles of rapid transit track, of which 67.822
miles are leased. Tho New York A Brooklyn Bridge has 3.755 miles of
track In addition. When all the lines embraced In contract with the city
havo been completed, will consist of approximately 2 8 5 miles of track. In
cluding trackage rights over the Astoria and Corona (Queens County) lino*
enjoyed mutual!) with the Interborough Bapld Transit Co.
OFFICERS.— Pree., John H. tlallock; V.-P. & Troas.. C. D . Meneely;
Sec., J .11. Bennington: Comp., Howard Abel.— V . 103, P- 884.
(a) New York M unicipal Railway C orporation. (See Map page 1 5 . )
ORGANIZATION.— Incorp. in N. Y . on Sept. 27 1912 to operate the
enlarged transit syitem (elevated roads and subways) covered by the agree
ment between the company and the city, and to construct and own such
parts of the system a* are •chedulod for private rather than public owner
s h ip .
V . 95, p. 818.
T h o lin e s t o b o c o n s t r u c t e d b y t h o c i t y a r o le a s e d t o
th o c o m p a n y fo r a p e r io d o f 4 9 y e a r s fr o m J a n . 1 19 1 7 a n d a r o o p e r a t e d
b y t h o c o m p a n y in c o n n e c t i o n w i t h t h o p r e v i o u s l y e x i s t i n g r a i l r o a d s o f t h o
New York t lonsolldated lilt. Co. (as etdarged and extended) as one system,
and for a single fare. The city-constructed lines may be recaptured by the
city after 10 year* upon payment to the company of a fixed percentage of
tho latter’s Investment In construction and equipment (115% at the end of
10 years and a gradually diminishing amount in succeeding years), so that
the company will receive an amount which, with the accumulation* of It*
sinking f u n d , will at least make good It* investment.
In March 1913 the P. 8. Commission approved a contract with tho BrookIvn Heights RR. for the use of the Lutheran Cemetery line. This line wa«
elevated and was placed In operation Feb. 22 1915. V. 100. p. 732.
LEASE TO N. Y. CONSOL. RR.— On Mar. 26 1913 tho P. 8. Comm
sanctioned the lease and assignment to the N. Y . Consol. RR. of all rights
under the contract with the city respecting new rapid transit lines. (See
V 9(3 P 360.947). The company also transferred to the N . Y. Consol
RR the certificate* for extensions and additional tracks, as well as certain
real estate In Brooklyn and the above-mentioned contract with the Brooklyn
Heights lilt, regarding the Lutheran Cemetery lino. The lease call* for
8% dividends on the N. Y. Municipal R y. Corp. *tock.
The Municipal By Corn, agreas to furnish all the money necessary to
carry out the terms of the dual system contract* and has the option of doing
all the construction work and acquiring all the equipment, or of requiring
the Consolidated Co. to do so on reasonable notice.
'
In August 1913 lb P. S. Commission granted authority to Issue $400,000
additional stock, of which$100,000 was Issued in April 1915. Up to S e p t .
1918 only $200,000 stock out. all owned by Now York Consolidated RK.
In March 1916 the co. applied to P. S. Comm, for auth. to Issue $697,500
additional stock to reimburse tho B. It. T . for commissions and fee* for
counsel paid out in connection with tho dual subway systom financing
Still ponding.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock. $2,000,000 ($100)----- - —— -A ll owned by N. Y Consol. R K .------First mortgage, $100,000,000? 1912
5 g J-J
$2,265,000 Jan 11966
($1,000 A S500). g.c*6tr_tf I Int. at Central Trust Co., N. Y .. Trustee
Ronds.— Ouar., p. & 1., by B. II. T . and N. Y. Consol. RR.$ 60.000.000
were Issued and pledged as security for B. R .T . secured notes. $2,265,000
of said notes were converted Into bonds or this Issue. Right of conversion
terminated Jan. 1 1916. Semi-annual sinking fund after July 1 1918
(minimum, .3175%; maximum. )4 % ). Bonds are subject to call as c
whole, but not In part, except for sinking fund, at 107)4 on 90 days’ notice
See V. 101, p. 20/2. Listed on N. Y. Stock Exchange In June 1918. V.
102. p.2255.— V .9 0 .p.360.863. 947. 1773; V. 101, p. 2072: V.102. p. 2255.
(2) Nassau Electric R ailroad.— A trolley road.
ORGANIZATION.— Chartered Mar. 13 1893 under the l*ws of New
York. Opened In July 1895 and In April 1898 leased the Atlantic Avenue
rr
Ac. As stated above, the Rapid Transit Co. owns or controls all
of the $8,500,000 common stock of the Nassau Electric and $6,394,375
out of the 56,500.000 preferred stock.
Was formerly leased fur 999 years from April 1 1900 to Brooklyn Heights
Railroad, but, colncldently with a decision compelling the Issuance of
transfers from one leased line to another (V 79. p 102), the lease was ter
mlnated on June 30 1904. For order requiring universal transfers, effective
Juno 1 1914. seo "Brooklyn Rapid Transit C o.” further above.
For lease or Coney Island terminal to tho N. Y. Consol. R R .. see remark*
under that company aboveand under Brooklyn R. T . Co. In Y. 101, p. 447.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity
Common stock. $8,500.000...............
- - - - - - - *§.600.000
-----------Preferred 4% cum, $6,500,000 ----M -N
6,500,000
aee text
Bonds — For details see Rapid Transit statement above.
ROAD.— Embraces 144 394 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
17
ELECTRIC RAILWAYS
Sk p t ., 1018.]
Avenue Station In Brooklyn, 9)4 miles (19 mile* 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, wa* changed In 1895 to $60,000 yearly. V. 81, p. 828. Liti
gation nas arisen with Long Island R R . regarding the use of Atlantic
Avenue. See V. 74, p. 1139. In Oct. 1910 N .Y Court of Appeals decided
that the city had the right to tear up rails, but city has taken no action
looking to the exercise of the right.
D IV ID E N D .— First div. on pref. under lease was paid Dec. 31 1900, 4 % .
1901 to 1907 lncl., 4% per annum; In 1908, N ov., 2% ; in 1909, N o v .2% .
in 1910and 1911. 4% ; in 1912. May, 2% ; N ov., 2% reg. and 4% on account
of arrears. In 1913, M ay, 2% ; N ov., 4 % ; in 1914 and since, 4% .
(3) Coney Island & Brooklyn RR.
In Dec. 1913 the Coney Island A Gravesend R y. (subsidiary o f the Bklyn.
Rap. Transit) received permission from the P. S. Comm, to acquire 26.370
shares of the stock of this company. Bklyn. Rap. Tran. Co. owns $625.
000 con*ol mtge. bonds of 1904.
ORGANIZATION.— Chartered Dec. 10 1860. Cars commenced run
ning over the Brooklyn Bridge Feb. 15 1898. See V. 66, p. 383.
Brooklyn City A Newtown was leased In Nov. 1897 for 999 years. In
1900 acquired all the stock of that company, but legal proceedings com
pleting merger with Coney Island & Brooklyn were not effected until 1910.
STOCK AND BONDS—
Date.
Interest.
Outstanding Last div. A c.
6 Q-M
$2,983,900 Mar 18, 1 )4
8tock, $3,500,000 (par $100).............
—
......................
'
x l.987,000 July 11948
First consolidated mortgager 1898 4 g J-J
Mercantile Trust C o., New York, Trustee.
$2,000,000, g old ...........n tfj
t/2.125.000 Jan 1 1955
Consol mortgage,$10,000.000J 1904 4 g J-J
Mercantile Trust C o., New York, Trustee.
gold ($1.000)...........- - c n f l
______ ___ A Newtown)
5 J-J
*1,993,000 July 11939
Brooklyn City _ ________ ^ 1889
first mort $2,000.000..ntflMercantile Trust C o.. N. Y ., Trustee.
Real estate mortgages____________
5%
288,062 ---------------x Not including $13,000 held In treasury.
y Not including $107,000 held In treasury.
* Not Including $7,000 owned by O. I. A B. R. R . Co.
Rond Interest.— Int. on all above bonds payable at Cent. Tr. C o., N . Y.
Ronds.— Of the $10,000,000 consol, mtge. bonds of 1904 auth. by mtge.,
$4,000,000 are reserved for prior liens and $3,768,000 are reserved for exts.
and lmpts.; $107,000 In treasury. No sinking fund and bonds cannot be
called.
ROAD.— First track. 22.844 miles; 2d track. 22.156 miles; raise, track.
7.039 miles: total oper., 52.039 mile*. 460 passenger and 26 service cars.
DIVIDENDS.— In 1895. 8%; in 1896, 5% : in 1897. 6% ; in 1898. 8 )4 % :
V. 67. p. 955. In 1899 and 1900. 10%; In 1901. 13)4% : In 1902. 1903 and
1904. 16%; in 1905, 10%; In 1906. 8% ; In 1907. Feb., 2% . None there
after to Jan. 1914, when 6% was paid. In 1915. Jan., 6% ; June. 1 )4 % ‘
Dec., 3% . In 1916 and 1917, 6% . In 1918, Mar., 1)4% .
OFFICERS.— Pros., J. J. Dempsey; V.-P. & Treas., C. D. Meneely;
Sec.. J. H. Bennington; Comp., Howard Abel.— V. 98, p. 235, 303, 386;
V. 99. p. 1214; V. 106, p. 921.
(4) Prospect Park & Coney Island RR.
ORGANIZATION.— In Oct. 1915 the P. 9. Comm. auth. the South
Brooklyn Ry. (controlled by B. R. T .) to purchase at $200 per share the
1,768)4 shares owned by the L. I. RR. and the minority holding* from time
to time as offered. V. 101, p. 1464. In May 1918 this transaction
was still ponding. Road has been operated under lease at an annual rental
of $45,000. In consideration or a guaranty by L. I. R R .. annual Int. on
the greater part of Prosp. Pk A O. I .’s bonded debt was reduced from 6 and
7% to 4 )4 % . See V. 56. p. 42: V. 62. p. 187. All the 2d M . 6s, $202,850
of income 6s and $80,006 or 1st M . 6s are owned by L. 1 RR.
Outstanding
Maturity.
Date.
Interest.
STOCK AND BONDS—
$250,000 ...................
Stock, $100________________
340.000 Feb 1 1926
Second mortgage, now first
4)4 F-A
160.000 Feb 1 1926
6 F-A
($1.000 each)...............c*Ar
96.000 Mar 1 1931
4)4 g M-S
Third mortgage, now second,
104.000 Mar 1 1931
6 M-S
gold ($1,000 each)— c*&r
interest on above mortgages payable at office of Treasurer of Penn. R R .,
N. Y . City.
Income bonds, non-cam .. . . . 1880
6 M-N
250.000 May 1 1920
ROAD.— Embraces 9.281 miles of first track 8.399 m. second track
8.327 ra. sidings, Ac.: total. 26.007 miles.
EARNINGS.— Now Included in those of B. R. T .— V. 101. p. 1371.
MANHATTAN BRIDGE THREE-CENT LINE.
ORGANIZATION.— Incorp. in New York. Began operat’g In Sept. 12.
Franchise to operate from Flatbush Ave. (Brooklyn) to Manhattan ap
proved by the P. S. Cotnm. on Aug. 14 1912.— V. 94. p. 912; V . 95. p. 420.
For two decisions handed down by the Appellate Division of the Supreme
Court favorable to the co., see V. 97, p. 1733. See also V. 106. p. 1797.
STOCK.— Authorized, $1,000,000; outstanding. $450,000.
Divtdends.— Initial quar. dividend of 1 )4% paid Mar 1914 tv 98 p.523':
same rato quar. to and incl. March 1916. None to June 1918, when 1M%
was paid. In Sept. 1918, 1)4% .
„
„
„
ROAD.— Operates 4.14 miles of track from Canal St. and Bowery.
N. Y ., over Manhattan Bridge, through Flatbush Ave. extension to Ful
ton St.. Bklyn. 19 cars.
„ .
„
Vear end.
Gross
Set
Other Taxes,Rents, DiniRalance,
June 30— Earnings Earnings. Income. Amort..Ac. dends.
S ur.orD ef.
1917-18_ $134,426
_
$16,118 $2,624 $24,940 (1)4)55,625 sur.$18,177
1916-17.— 134.741
42.409 1.655 20,146 .................... sur 23,918
1915-16-.- 128.670
16.962 2,070 24.136 (4)4)20,250 def. 25.354
Total surplus June 30 1918, $24,642. Passengers carried during 1917-18,
5,156.380, against 5,168,421 in 1916-17 and 4,908,477 in 1915-16.
OFFICERS.— Pros.. Fred’k W. Rowe; V.-Pres., Frederick D. Mackay
and Cha* J Edwards; Soc.. Walter Hammltt; Treas.. Ed. T Horwill.—
V. 96, p. 285, 1557, 1840; V. 97. p. 1733: V. 98, p. 523; V. 106, p. 1797.
VAN BRUNT STREET & ERIE BASIN R R ,— A trolley road.
ORGANIZATION, Ac.—Chartered Feb. 15 1861. Stock. $200,000, al
Issuod; par. $10. Bonds, S75.000 1st mtge. authorized: $31,000 out.
Track, 2.32 miles, changed to electricity In 1898. 6 pass. cars. For year
ending June 30 1917, gross, $67,462; net, after taxes, $19,144: other in
come, $434: interest, A c., $1,950; surplus, $17,628.
„
OFFICERS.— Pres.. John F. Murphy: V.-P.. D. W. Sullivan; Sec. and
Treas.. VVyllys Terry. Office. 264 Van Brunt St., Brooklyn, N . Y.
BUFFALO, N. Y.
BUFFALO & LAKE ERIE TRACTION CO.— A trolley road.
Receivership.— On application of the New York Trust Co., mortgage
trustee. Justice Brown In the Supreme Court at Buffalo on July 7 1915.
appointed Geo. Bullock receiver. V. 101, p. 129.
Default.— The company having defaulted on the Int. due Nov. 1 1912 on
the first and ref. M . 5% bonds (subsequent coupons also defaulted),
a protective committee requested the bondholders to deposit their bonds
with Equitable Trust Co., 37 Wall St.. N. Y ., as depositary, or tho Girard
Trust Co. of Phlla. as sub-depositary.
The aforesaid committee also drew up a plan of reorganization (see
V. 97, p. 297 but In Dec. 1913 the plan was abandoned.
ORGANIZATION.— incorporated In New York and Pennsylvania In
Dec. 1906 and Is a consolidation of the Hamburg Ry.. the Dunkirk A Fredonla R R ., the Buffalo Dunkirk A Western R R .. the Lake Erie Electric
Traction Co. and the Erie Rapid Transit Co. Lease* the Erie Electric
Motor Co. for 999 years, which company leases the Erie City Passenger Ry.
for 999 years from Oct. 1 1888 and the Erie Reed Park A Lakeside Street
Ry. for 999 years from March 1 1901. In 1909 leased the Buffalo A
Lack. Trac. Co. for 999 years. V. 88. p. 1001. Also owns all the stock
of this company, and guarantees the bonds. Also owns all stock ($750,000,
all out) of the Dunkirk St. Ry., which company has a franchise In Dunkirk
and has built about 5 miles of track.
The Niagara A Erie Power Co. Is controlled by the Buff. A Lake Erie
Trac. Co. and the Niagara Lockport A Ontario Power Co. Interests, and
Its bonds are guar., p.. I. A sk. fd.. one-half each, by these two companies.
A n n l i c a t i o n to A b a n d o n P o r t i o n o f R o a d . — On April 19 1918 the receiver
applied to tho N. Y. P. S. Comm, for auth. to abandon the 28 miles of
line botween Fredonla and the Pennsylvania State lino, unless tho co.
be given permission to increase fare*. Efforts are being made to effect
an agreement with tho communities affected.
Tho receiver has been authorized by the County Court at Erie, Pa., and
Supreme Court at Buffalo, N. Y ., to issue $1,544,200 receiver’s certificates
to provide funds for improvements and extensions, of which $1,310,000
woro Issued and outstandng Sept. 1 1918.
F a r e D e c i s i o n . — In July 1918 the Penn. P. S. Comm, dismissed the com
plaints against a faro increase holding that an electric railway may Increase
its faro boyond tho 5-cont limit specified In a franchise ordinance when it
18
ELECTRIC RAILWAYS
is n e c e s s a r y t o d o s o t o o b t a i n e n o u g h r e v e n u e f o r o p e r a t i o n a n d m a i n t e
n an ce p u rp oses.
V . 107, p. 500.
Rates.— I n J u l y 1 9 1 8 a p p l i e d t o t h o I . - S . C . C o m m , f o r a u t h . t o in c r e a s e
p a s s e n g e r r a t e s t o 3 c e n t s p e r m i l e a n d f r e ig h t r a t e s 2 5 % .
V . 107. p. 81.
T h e c o . ’s a p p l i c a t i o n f o r a n in c r e a s e in c la s s a n d c o m m o d i t y r a t e s w a s
t u r n e d d o w n b y t h e I . - S . C . C o m m , in A u g . 1 9 1 8 .
V . 107, p. 60 4 .
In
S e p t . 1 9 1 8 a p p l i e d t o t h e N . Y . P . S . C o m m , f o r a u t h . t o in c r e a s e fa r e s
f r o m t h e S t a t e lin e t o t h e c i t y o f B u f f a l o f r o m 2 % c e n t s t o 3 c e n t s p e r m i l e .
V. 107, p . 1191.
S T O C K A N l) B O N D S —
Date.
Interest. Outstanding.
Maturity.
C o m m o n , S 5 . 0 0 0 . 0 0 0 ____________________
______________ $ . 5 ,0 0 0 ,0 0 0
P r e f , 5 % , $ 2 , 5 0 0 , 0 0 0 , c u m l _____
______________
2 ,5 0 0 .0 0 0
f r o m J u l y 1 9 0 9 _____________ /
1st an d ref m tg e, $ 1 2 ,0 0 0 ,-' 1900
5 g M -N
7 ,0 0 6 ,0 0 0 N o v 1 1 9 3 0
0 0 0 , g o l d ( $ 1 , 0 0 0 ) -------- c * t f l I n t e r e s t a t N e w Y o r k T r u s t C o . , T r u s t e e .
E r i e pfl M 1 s t m t g e , $ 2 0 0 , 0 0 0 / 1 8 8 9
6 g J -J
1 4 8 .0 0 0
1919
( $ 1 , 0 0 0 ) , g o l d ------------------ c t f l C e n t r a ! T r u s t C o .
tru ste e . N e w Y o r k C ity .
E r ie E l M 2d m tg e . $ 1 5 0 ,0 0 0 / 1 8 9 2
0 g J -J
. .
. 0
1 0 .2.. 0 . .0 J a n
1 1919
( $ 1 , 0 0 0 ) , g o l d ------------------ c t f l C e n t r a l T r u s t C o . , T r u s t e e , N o w Y o r k ,
E r i e E l M 1st r e f s in k f u n d
. - ,0 0 0 ,0 0 0 A p r
.
1901
5 g A -O
1
11941
$ 1 ,2 5 0 ,0 0 0 , g o ld ( $ 1 ,0 0 0 )
In te r e s t a t N e w Y o r k T r u s t C o ., T r u s te e .
C a n n o t b e c a l l e d _______c * t f
N ow Y ork C ity .
H a m b u r g R y 1st M . $ 7 5 0 ,1906
4 g M -N
7 4 5 .0 0 0 N o v _ 1 1 9 20
0 0 0 , g o l d ( $ 1 , 0 0 0 ) ------------- t f l i n t , a t E q u i t a b l e T r u s t C o . , N . Y . , T r u s t e e .
D u n & F re d re f M . $ 1 0 0 ,0 0 0
1902
5 g J -J
3 9 , 0 0 0 ' J tify 1 1 9 5 2
g o l d ( $ 1 0 0 , 8 5 0 0 & $ 1 , 0 0 0 ) 'F i d e l i t y T r u s t C o . , B u f f a l o , T r u s t e e .
N i a g a r a A E r ie P o w 1 s t M
1911
5 J -J
;
5 2 2 ,0 0 0 J a n
11941
'Jan 1
$1.250,000g($l,000)gu p&i(Guaranty Trust C o., New York, Trustee.
_____
1,310,000 __________
Receiver's certificates_____________
Bonds.— Of the $12,000,000 new bonds, $2,034,000 are reserved to take
up a like amt. of underlying liens. These new bonds are subj. to call on any
int. date at 110 and Int. Int. on the 1st and 2d mtges. of the Erie El. Motor
Co. Is paid by Kountze Bros., N. Y. The Erie El. Motor ref. bonds are
secured by deposit of entire stocks of the Erie City Pass. Ry. and the Erie
Reed Park & Lakeside St. Ry. A sink. fd. of 1% ann. on these bds began
Apr. 1 1906 and was Increased to 1M% In 1916. Tho Hamburg Ry.
bonds are no longer subject to call. Tho Dunkirk & Fredonla refunding
mortgage bonds are subject to call on any Interest date at 103. The
Niagara & Erie 1st M. bonds are subj. to call, any or all, on any int. day
at 105 8 k. fd. from Jan. 1 1916, 114% of bonds auth. Bonds aro guar.,
p ., 1. A sk. fd., by Buff. A Lake Erie Trac. and Nlag. Lockp. A Ont.
Power C o., one-half by each. V. 92. p. 530.
EARNINGS.— For year end. June 30 1917, gross earnings, $1,720,408;
net, after taxes, $515,982; deficit, after deducting all interest charges (incl.
int. on Buff. A L. E. Trac. 5% bonds and sinking funds), Ac. $123,837.
R O A D .— Buffalo, N. Y .. to Erie, Pa., and Buffalo, N. Y ., to Hamburg,
N. Y .. 98.52 m.; leased lines— Dunkirk (N. Y.) St .Ry., 4.21 m.; Erie (Pa.)
Electric Motor Co., 27.85 m.; Erie (Pa.) A Suburban R y.. 4.63 m.; Buffalo
(N. Y.) A Lackawanna Trac. Co., 3.90 m.— 40.59 m.; operated Under
trackage rights (International Ry., Buffalo, N. Y .). 52 m.; total, 139.63 in.,
of which in New York (owned. 81.27 m.; leased, 8.11 m.; operated under
trackage rights, .52 m.). 89.90 m., and in Pennsylvania (owned, 17.25 m ;
leased. 32.48 m.), 49.73 m. Second track (owned, 16.78 in.; leased, 21.04
m .), 37.82 m. Sidings, Ac. (owned, 5.74 m.; leased, 3.48 m.), 9.22 m.
Total track oporated (owned, 121.04 ra.; leased, 65.11 m.; operated under
trackage rights, .52 m.), 180.67 miles.
OFFICERS.— Receiver, Geo. Bullock; Pres, (vacant); V.-P. A Sec.,
M . D. Evans: Gen. Mgr., A. R. Myers; Treas. A Asst. Sec., A. F. Tideswell.
— V. 106. p. 1796; V. 107. p. 81. 500, 694, 1191.
(1) B uffalo & Lackawanna T raction Co.
O RGAN IZATION .— Incorporated In New York In June 1906 to furnish
an entrance Into Buffalo for Buffalo A Lake Erie Tfac. Co. In April 1909
was leased to Buffalo A Lake Erie Trac. for 999 years. Stock, $100,000
authorized, of which $55,000 Is outstanding and owned by Buff. A Lake
Erie Trac. Co. Has universal transfers throughout city of Buffalo through
contract with International Ry. Co.
BONDS—
Date. Interest. Outstanding. Maturity.
1st mtge, $1,500,000, gohll 1908 5 g J-D
$1,160,000 Dec 11928
($1,000). guaranteed -c tfl Interest at New York Trust C o., TrusteeBonds are subject to call at 110 and Int. They have no sink. fund. Re
maining bonds are reserved for betterments and extensions at 85% of cost.
Bonds guar. prln. and int. by BuffaioA Lake Erie Trac. Co. V .9 0 ,p .? 3 5 .
R O A D .—3.90 miles owned and .52 miles leased and used Jointly with
Int. Rys. Co.; total. 4.42 miles. Began operating Dec. 22 1909.
OFFICERS.— Pres., R E. Oriscom: V.-Ps., M. D. Evans and M , W.
Dodge: 8 ec., M. D. Evans; Treas., A. F. Tideswell.— V. 95, p. 1471.
BUFFALO
& D E P 6 V V R Y . — A tr o lle y r o a d .
ORGANIZATION.— Incorporated on April 27 1897. Wm. B. Cutter
of Buffalo, N. Y ., owns about three-fourtns of the stock and the entire
$350,000 bonds.
*
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock. $350,000 ($ 1 0 0 ) ...............................................
$305,000 __ .
Buff A D 1st M. $350,000------ 1901
5 J-J
350,000 Jan 1 1931
EARNINGS.— For cal. year 1917, gross, $17,414: net, after taxes,
$13,671. In 1916, gross. $15,073; loss from operations, $10,724.
ROAD.— Operates a double-track road from Buffalo to Depow, 13.59
miles of track; 75-lb. rail; 5 cars.
OFFICERS.— Pres., Wm. B. Cutter; Treas.. R , A. Pilklngton; Sec..
Percy Eaton.— V. 79, p. 2095.
BUFFALO SOUTH ERN
R Y , C O . — A tr o lle y r o a d .
Receivership.— Int. on honds having boen defaulted, N . A. Bundy was
appointed receiver Sept. 26 1913.
In Oct. 1917 the P. S. Comm, for the 2d DIst. of N. Y. ordered various
improvements to be made, involving an expenditure of $20,000. Mortgage
foreclosure proceedings wero thereupon brought against tho co., it being
claimed that the road’s earnings aro not sufficient to warrant the expendi
ture.
ORGANIZATION.— Incorporated In New York on Aug. 26 1904 and Is
a consolidation of the Buffalo Hamburg A Aurora Ry. and the Buffalo
Gardonvllle A Ebenezor Ry. V. 79, p. 2140. Franchisesjierpetual. Has
trackage rights In Buffalo over tracks of the International Traction Co.
Strike.— Tho strike begun on May 24 1910 was called off Sept. 1 1910.
V. 103,p. 1031.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Stock, $2,000,000 ($ 1 0 0 ) ................ ..........................
3547,200 .
1st mtge. $2,000,000, gold/ 1904
5 g A-O 15
600,000 Oct 15 1934
($1,000) --------------- c * .n t filn t . at Seaboard Nat. Bank, N. Y., or at
..
. .
„ I .fid e lity Trust C o., Buffalo, Trustee.
BONDS.-—No s. f., but from $50,000 to $100,000 bonds are subjoct to call
at 110 and Int. on any Int. date upon 3 months’ notice. $1,400,000 bonds
reserved for future extensions and equipment.
-,-J?4,&isriNOS ~ For cal. year 1917, gross, $95,699. In 1916, gross,
$59,426 (operation suspended from June 1 to Sept. 1 1916 on account or
strike). In 1915, gross. $80,377. In 1914, gross, $85,470.
ROAD.— Operates from Buffalo to Hamburg, East Hamburg and Or
miles; also has a line from Buffalo through Gardenville
and Ebenezer to Lien's Park, 514 miles. An extension to East Aurora,
15 miles, Is under construction. 514 miles completed. 60-lb. T and 80-lb.
girder rail.
OFFICERS.— Pres., Wm. J. Wheeler, Bklyn., N. Y .; V .-P., A. S. MllIdlgg, Bklyn.; Sec., D. K. Harrington. Orchard Park. N. Y.; Treas. A Gen.
Mgr . N. A Bundy. Buffalo.— V. 8 6 . p. 419: V. 103, p. 1031.
BUFFALO
A
W IL L IA M S V IL L E
E L E C T R IC
R Y.
ORGANIZATION — Incorporated In New York July 1 1891. In May
1904 auth. capital was Increased from $75,000 to $3,500,000, and in July
1904 new mtge. for $3 500,000 was made to provide extension to Rochester
In May 1914 Batavia Traction Co. purchased the tracks, rolling stock,
property. Ac., of this company In Batava. V. 99, p. 269.
STOCK AND BONDS— Date.
Interest. ' Outstanding. Maturity.
Stock ($3,500,000 authorized) ___
_ •
_ ___ __
$ 7 5 000
fi?ldf I9° t
5 g J-J
168.500 J u ly '1*1944
($500 and $1.000). .c*Ar*\Int. at City Trust C o., Buffalo, Trustee
Bonds.— Are subject to call on anv Interest date at 105.
EARNINGS.— For year ending Dec. 31 1917, gross, $41,013; year ending
June 30 1917, gross. $40,434; in 191.5-16, gross, $36,859.
R O A D .—0.65 miles of track, Buffalo to Wllllamsvllle. Ralls 85-lb. T .
Gauge 4 ft. 8 ) 4 Inches.
OFFICERS.— Pros., L. L. Lowis Jr.; V .-P., Sec. A Gen. M gr., Godfrey
Morgan; Treas., L. K. Warnick.— V. 99, p. 269.
*
IN T E R N A T IO N A L
T R A C T IO N ~ C O .
The United Oa< A Electric Corp. (see statement o f company under New
York) owns over 60% of Internal. Trac. Co. com. stock. V. 94, p. 1383.
[Vol . 107
O R G A N I Z A T I O N . — O r g a n iz e d o n J a n . 1 8 1 8 9 9 u u u e r N . J . la w s a n d
a c o u lr e d a ll t h e e le c tr ic r a ilw a y s c o n n e c t i n g t h e c itie s o f B u f f a l o N i a g a r a
F a l l s , L o c k p o r t , N o r t h T o n a w a n d a a n d T o n a w a n d a , t o g e t h e r w lt>' all t h e
s t r e e t r a ilw a y s y s t e m s In a ll o f s a id c it ie s : a ls o th o e le c tr ic r a ilw a y c o n n e c t i n g
t h o v i ll a g e s o f D e p e w a n d L a n c a s t e r w it h B u f f a l o .
It a ls o a c q u ir e d t h e
C a n a d i a n E le c t r ic R a i l w a y , t r a v e r s i n g t h e e n t ir e le n g t h o f t h e Q u e e n V ic
t o r ia N i a g a r a F a lls P a r k a u d c o n n e c t e d It w it h t h e A m e r i c a n s y s t e m b y t h e
a c q u is it io n o f t h e s t e e l a r c h b r id g e a t N i a g a r a F a lls a n d t h e S u s p e n s io n
B r id g e b e t w e e n Q u e e n s t o w n a n d L e w i s t o n , w h ic h b r id g e s h a v e b o e n
e q u ip p e d w ith t r o lle y t r a c k s .
O w n s e n t ir e s t o c k a n d $ 1 , 9 8 4 , 5 0 0 b o n d s o f
th e In te r n a tio n a l R y C o .
H a s t r a f f i c a g r e e m e n t w it h N i a g a r a G o r g e R R .
fo r t h e o p e r a t io n o f c a r s o v e r t h e l a t t e r ’s 8 - m i l e lin e
C o n tr a c t run s to 1 9 4 1 .
In J u n o 1 9 1 7 , p u r c h a s e d t h e Q u e e n s t o w n C o a l C o . o f E a s t B r a d y , P a . , fo r
$ 1 5 0 ,0 0 0 in t h e in t e r e s t o f t h e U n i t e d G a s A E l e c . C o r p .
V. 104, p. 2641.
In D e c . 1 9 1 2 t h e P u b . S e r v . C o m m , a p p r o v e d t h e r e o r g a n iz a t io n p l a n ,
c a llin g fo r e x c h a n g e o f o ld c o l l , t r u s t 4 s , $ fo r $ . fo r n e w c o l . t r u s t 4 s o f
I n t e r n a t . T r a c . C o . d u e J u l y 1 1 9 4 9 , a n d l i m i t i n g t h e Issu e t o $ 1 8 , 3 3 5 ,
0 0 0 I n s te a d o f t h e $ 3 0 , 0 0 0 , 0 0 0 p r o p o s e d .
V . 9 0 , p. 03 .
T h e fo w r e m a in in g
b o n d s o f 1 8 9 0 w h ic h d id n o t a s s e n t to p la n w e r e c a lle d lo r p a y m e n t o n
J u ly 1 1 9 1 3 a t 1 1 0 a n d I n t .
V . 9 0 , p. 1021.
New Preferred Stock. — O n O c t . 1 6 1 9 1 5 c o m p a n y file d a n a m e n d m e n t t o
it * c h a r t e r p e r m i t t i n g t h e c o n s u m m a t i o n o f t h e p la n ( V . 1 0 1 . p . 5 2 7 ) fo r
r e t ir in g t h e $ 5 , 0 0 0 , 0 0 0 4 %
c u m . p r e f . s t o c k , w ith a c c u m u l a t e d
d iv a ,
th e r e o n ( 4 2 % ) b y a n Is s u e o f n e w 7 % c u m
p r o f, s t o c k , s h a r e fo r s h a r e .
$ 4 , 4 0 8 , 6 0 0 o f t h e s t o c k w a s s o e x c h a n g e d a n d In J u n e 1 9 1 0 t h o a c c u m u l a t e d
d l v s . ( 4 2 % ) o n t h e u n e x c h a u g e d s t o c k w e r e p a id In c a s h .
V . 102. p 21 60 .
In A p r il 1 9 1 6 Issu e d $ 1 , 0 5 0 , 0 0 0 S e r ia l 0 % s e c u r e d g o ld n o t e s t o r e t ir e
f l o a t i n g d e b t a n d p a y t h e a c c u m u l a t e d d l v s . o n t h e o ld 4 % p r o f, s t o c k u n
exch anged.
or
New Line . — T h e P . S . C o m m , h a s a u t h . t h e s a le
$ 3 ,8 7 0 ,0 0 0 In te r n a
t io n a l R y . r e f. a n d i m p t . 5 % b o n d s , o f w h ic h $ 3 , 7 0 2 , 0 0 0 h a v e b e e n Is s u o d ,
t o p r o v i d e fo r t h o c o n s t r u c t io n a n d e q u i p , o f t h e h ig h -s p e e d in t e r u r b a n lin e
fr o m B u f f a l o t h r o u g h T o n a w a n d a a n d N o r t h T o n i w a n d a to N i a g tra F a l l s .
1 6 m ile s , o v e r p r iv a te rig h t o f w a y .
V . 1 0 3 , p . 1 0 3 2 ; se e a ls o V . 1 0 7 , p . 6 9 6 .
O n A u g . 2 0 1 9 1 8 t h e v o t e r s o f B u f f a l o , b y a v o t e o f 3 5 , 6 6 1 t o 7 , 0 4 4 , f a ile d
t o a p p r o v e t h o C i t y C o u n c i l ’s o r d in a n c e w h ic h w o u ld h a v o p e r m i t t e d a
G -c o n t fa r o o n t h o s t r e e t r a i l w a y s o f t h o c i t y .
V . 107, p . 8 0 7 .
S ee a ls o
V . 107, p. 2 9 1 , 40 2.
I n J u l y 1 9 1 8 a p p l i e d t o t h o I . - S . C . C o m m , fo r a u t h .
t o in c r o a s o o n e - w a y fa r o s f r o m B u f f a l o t o N i a g a r a F a l ls a n d o t h e r N o w
Y o r k p o i n t s , t o c o n f o r m w i t h r a t e s in e f f e c t o n o t h e r N e w Y o r k r o a d s .
V . 107, p . 501.
STOCK
AN D
BONDS—
Dale.
Interest.
Outstanding.
Maturity.
Stock, common, $10,000,000._ _
_
. . . . . . . $10,000,000
Soo te x t
~ "
~
Pref 7% cum $^.000,000...................
4 ,4 6 8 .6 0 0 A p r
18 1 J*
Pref 4% cum . . . ___ _____________
5 3 1 .4 0 0 A p r ’ 1 8 ,1 %
33
Coll trust. $18,335.000........... 1912
4 j -j
1 0 . 3 9 9 . 0 0 0 J u ly I 1 9 4 9
Serial debenture notes. $500.-/1913
.0 F - A_
_
2 5 0 ,0 0 0
Soo te x t
000 ($1,000), g o ld ____________ci In t.at Chase Nat B a n k ,. N Y . ..o r F id e l it y
_
l Trust Co. of Buffalo, Trustee.
Serial secured notes $1,050,-/
1916 8 A-O
850.000
See text
000 ($1,000) gold------c*cotI Central Trust Co., Now York, Trustee.
Coll trust gold notes, $5,000,-1
1917 6 g F-A
2.000,000 Aug 11920
000 ($1,000)----- . ______ c *1
Int.at Bankers Tr. Co., N. Y., Trustee.
Bonds and Notes.— $18,335,000 coll, trust bonds wero Issued, but $1,940.
000 have heen re-acquired, and are pledged as collateral to the .Serial 0%
secured notes. The debenture notes of 1913 mature $50,000 annually
beginning Feb. 1 1914. $250,000 have been retired. Callable u 100 A Int.
on any Int. date. The notes of 1916 are secured by $1,910,000 coll, trust
4% bonds due July 1 1949
They mature $100,000 annually on April 1
from 1917 to 1925 Incl., and $150,000 on Apr. 1 1926, to he retired either
through earnings or by salo of the pledgee! bonds at not less than 65.
$200,000 retired. Callable, all or part, at 101 and int. on any Int date on
30 days’ notice. Pennsylvania State tax refunded. V 102, p. 1430. Coll,
trust notes of 1917 aro callable at 100 J-i and int. on any int. date. Secured
by deposit of $2,667,000 Int. Ry. Ref. A Impt. Mtge. 5% gold bonds.
Co. pays normal Federal incomo tax to not exceeding 4% . V . 105, p. 497.
Dividends. — First dlv. of 2% on old 4% pref stoeu was paid F in 1 1913,
also an additional 4% on accouut of accumulated dlvs. July 2% and 2%
add’ l. In 1914, Feb., 2% and 2% add 1 July. 2% . In 1915. Feb.. 2% ;
;
July. 2% . In Oct. 1915 new 7% pref. stock was offered in oxeh.mgo for
old stock with aceum divs. thereon. All but $531,400 of fhe stock was so
exchanged and in June 1916 the 42% aecum divs. on unexchauged stock
were paid in cash. 4% is now regularly paid on tho old pref. stock. New
7% prof, stock Is cumulative from Nov. 15 1915. and a dlv. of % % was paid
thereon Jan. 15 1916; In March 1916 paid I lf % and same rate qoar since.
Initial dlv. on com.— H f % — paid Juno 30 1916; Sept., 1 %; Dec., 1
In 1917, March, 1%; June, 1%; Oct., 1%. Jan. 1918 dividend passed.
Franchises.— Nearly four-fifths of the mileage in Buffalo, Including all the
most Important lines. Is maintained, it Is stated, under franchises in per
petuity or upon property directly owned, only 4 7 tulles of minor trackage
being operated under franchises having less than 25 years /from 19161 to
run. The franchises of tho lines outside of Buffalo aro either for various
long-term periods or are without time limit
Consolidation of Constituent Companies.—On Feb. 20 1902 the Interna
tional Railway Company was Incorporated In New York with $10,120,500
stock, aud In Aug. 1902 this was increased to $17,000,000. of which $10.
707,500 has been issued (all owned by the International Traction G o.), as a
consolidation of the following companies, whose shares had previously been
hold by the Traction Co ; V. 74. p 427.
Buffalo Railway Oo. (after Buffalo Traction and Buffalo Bellevue A
Lancaster had first been merged In the same).
Buffalo A Niagara Falls Electric Railway
Buffalo A Lockport Railway (after Elmwood Ave. and Tonawanda Elec
tric Railway bad been merged).
Buffalo Tonawanda A Niagara Falls Electric RR. Oo.
Lockport A Olcott Railway.
Niagara Falls A Suspension Bridge Railway (after the Niagara Falls
Whirlpool A Northern Ry. had been merged In it).
Niagara Falls Suspension Bridge Oo.
On July l 1902 the International Ry Co. acqulrod by purchase the
Niagara Falls Park A River Ry.. the Clifton Suspension Bridge O o..the
Lewiston Connect. Bridge Oo. and Queenston Heights Bridge Oo. and I11
Dec. 1912 merged the Electric City Ry.
In April 1913 the Orosstown
St. Ry. was also merged, thus leaving the International Railway Oo the solo
operating company aud the International Trac. Oo. tho holding company.
Liens of C onstituent and Owned Companies.
BONDS—
Date.
Interest. Outstanding. Maturity.
Internat Ry ref A Imp mtgel
1912 5 g M-N $16 662.000 Nov 1 19(12
$60,000,000, gold----- c*Ar/Baukors Trust Oo., Now York, Trustee
Buffalo Ry 1st con mtge/
1891
6 g F-A
5.000.000 Feb l 1931
($1,000) $5.000.000,g,c*A r( Int. at C o.’s office. Buff , E W Clark A Oo.,
t
I’ h i l a ., o r B a n k e r s T r C o . , N Y , T r u s t e e .
a T ,o n a w a n d a S t R I t - s t M , i 1 8 9 2
1
.
lv
6 J -J
6 0 .0 0 0 J u ly 1 1 9 2 2
(c b > 8 o d ) ---------------------------------------- /I n t e r e s t a t c o m p a n y 's o f f i c e , B u f f a l o .
a T o n a w a n d a E le c t r ic R R 1st 1
1 8 95 0 A -O
4 0 , 0 0 0 A p r il 1 1 9 2 7
m t g e ----------------------------------------------/ I n t e r e s t a t c o m p a n y 's o f f i c e , B u f f a l o ,
ftO r q s s to w n S t R y 1 st m t g e . g \
1892 5 g M N
f > 2 .9 7 1 .0 0 0
M a y 1 1932
(c l >sed) gu p A I ----------------c * / I n t . a t M e t r o p o l i t a n T r . O o . . N Y
T ru ste e .
B u f f a lo T r a c t i o n
1 st m t g e . i
1 8 98 5 g J -D
0 7 3 ,0 0 0 D e c 1 1 9 4 8
( c lo s e 1)
----------------------------------/ I n t . a t M e t r o p o l i t a n T r . O o . . N Y , T r u s t e o .
B u ffa lo B e lle v u e A L a n c a s te r ]
18 97 5 J -D
2 1 5 ,0 0 0 J u n e 1 19 2 7
m t g e ( r e d e e m a b le a t p a r ) . / I n t . a t B u f f a l o T r u s t O o . , B u f f a l o .
B u f f A N l a g F a lls E le c R y —
I 1895
5 g J J
7 5 0 .0 0 0 J u ly 1 1 9 3 5
1 st M . $ 7 5 0 ,0 0 0 , g o l d --------c /I n t e r e s t a t B a n k e r s T r u s t C o . . N e w Y o r k ,
2 d M , $ 1 7 5 ,0 0 0 . g . s f , r e d ] 1 8 9 6
5 g '- J
5 , 0 0 0 J u ly 1 1 9 2 1
a f t 1HO 1 a t 1 0 5 ( $ 1 . 0 0 0 ) . c / l u t
a t B a n k ers T r u s t O o ., N
Y , T r u ste e .
B u f f a l o A L o c k p o r t 1st m t g e . , 1 8 9 8
5 g J J
5 0 0 .0 0 0 J u ly 1 1 9 3 8
g o l d , $ 5 0 0 , 0 0 0 .............................. E q u i t a b l e T r u s t O o . . N o w Y o r k , T r u s t e e .
L ock port A
O lc o tt R y
1st
1900
5 g J J
8 0 0 . 0 0 0 J u ly 1 1 9 2 0
m o rtg a g e
(c ln s e d ),
g o ld I n t . a t G u a r a n t y T r . O o . , N
Y . T r u s ., a ls o
( $ 1 , 0 0 0 ) .......................................c *
at B u ffa lo . O u a r ., p . A L , b y in te r . T r a c .
N ia g a ra
F a l ls
S u s p e n s io n
1897
5 g J -J
3 0 0 ,0 0 0 Jan
1 1928
B r i d g e , C l i f t o n S u s p e n s io n T o r o n t o G e n e r a l T n i s t e C o r p . . T r u s t e e .
B r i d g e ......................................... . _ I n t a t A m e r i c a n E x c h . N a t
Bank. N . Y .
L e w is t o n C o n n e c t i n g B r id g e
1898
5 g A O
1 2 5 ,0 0 0 O c t
1 1928
O o.
Q u ee n sto n
H e ig h t s T o r o n t o G e n e r a l T r u s t s C o r p . , T r u s t e o .
B r id g e O o
I n t. a t A m e ric a n E x c h . N a t
Bank, N . Y .
o N l a g F a lls A S u s p B r id g e R y . 1 8 9 3
6 J -J
6 1 8 .0 0 0 J u ly 1 19 2 3
a N I a g F a lls W h i r^p o o l ,A N o R r 1 8 9 4
l
y
u
0 J -J
2 2 , 5 0 0 J u ly 1 1 9 2 3
R e a l e s t a t e b o n d s a n d m o r t - f _____
0 M -N
2 5 0 .0 0 0
1919
„ g a g e # ................................................. \ l n t . a t F a r g o A G a r y E s t a t e B u f f a l o
R e a l o s t a t o b o n d s a n d m t g e s , . _____
A -O
3 0 ,0 0 0
1921
a A l l o w n e d b y I n t e r n a t io n a l T r a c t i o n C o .
t Of t h is $ 3 5 0 ,0 0 0 o w n e d b y I n t e r n a t i o n a l R a i l w a y O o .
ELECTRIC RAILWAYS
fcSE T. 1918.1
P
Bonds.— Of the International Ry. refunding and Improvement bonds,
111 001 500 are reserved to retire prior lien bonds and S2.667.000 are pledged
as security for the notes of 1917; remaining bonds may be Issued only for
add'ns. Impts., Ac., with consent of the l*. 8 . Comm. Coup, bonds in
denom. of $1 ,000 and re#, bonds of $1,000 and multiples. Red. ou any Int.
dato at 110 and Int. Int. payable at office or agency of the company In
New York. Exempt from N. Y. State, county and municipal taxes. Sk.
fd. began In 1912 and will provide by July l 1919 sufficient funds to retire
all except $611,000 or the outstanding underlying bonds to a total par value
of $12 d l l . 500. The bonds are secured by a 1st M. on about 43 miles of
track find. 15 14 m. In Buffalo) and by a mtge. on remaining property, subj.
to divisional bonds
They will also be a 1st M . on the new line between
Buffalo ami Niagara Falls
V. 96. p 62; Vi 103, p. 1032. The Tonawanda
Elec. RR. 1st 4 s due originally on Apr. 1 1907, were extended as 4s to Apr. 1
l » i 7 and in 1917 again extended to April 1 1927 at 6 %. The Nlag. Falls
& Suspen Bilge Ry. bds. or 1893 and Niag. Kails S Whirlpool Nor bonds
t.
of 1894 given In the table above matured In 1903, but were acquired by the
Internationa) 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. These were again
extended, maturity now being July 1 1923 and bearing Interest at 6 % . All
the outstanding stock and $4,344,000 ref. & irapt. 5s of the Internat. Ry..
$60,000 Tonawanda St. Ry 1st 6 s, $40,000 bonds of Tonawanda Elec. RR ..
$518,000 bonds of the Niagara Palls A Suspension Bridge and $22,500 bonds
of the Niagara Falls Whirlpool A, Northern are pledged as security for the
International Traction collateral trust loan.
R E PO RT.— For year ending Dec 31 (1917 report in V. 107, p. 398) :
1914.
1915.
1917.
1916.
Total Incorao..................... $8,255,279 $7,818,677 $6,839,974 $6,760,580
Operating expenses_____$4,765,267 $4,030,282 $3,480,543 $3,601,800
425,484
420,632
Taxes.............................
637,890
535,156
Operating income_____$2,852,122 $3,263,240 $2,933,946" $2,435,148
Int., rents, sink. fds.,& c.$l ,901,700 $1,862,709 $x ,866,960 $1,823,380
$396,582
$359,244
Renewals, A c., reserve.. $293,323
$522,708
38,657
7% prof, stock dividend.
312,802
312,452
177,910
2 0 0 .0 0 0
4 % preferred dividends. .
21,256
21,456
Com non dividends_ (3 % )300 000(41^)425,000 ________ ______________
_
BUlance, surplus______
$23,041
$108,914
$453,837
$352,524
Earnings of International Traction Co. for cal.
Income from
International Ry. stock, $1,127,756; other income. $344 982 total incomo,
$1,472,738; surplus applicable for note interest, $769,718.
iiO A D .A c.- Length of Hue 2 2 4 3 5 9 miles (owned. 199.616;leased, 18.196;
trackage. 6.647); total miles of track, Incl. second track crossovers sid
ings. Ac. 403 miles.
Gauge. 4 ft. 84* In. Rail (steel), 45 to 145 lbs
1,038 cars, or all classes. Including 851 passenger cars. Greater part of
electrical en>'rgv used Is purchased from the Niagara Falls Power Co. and
Its all ed co., the Buffalo General Electric Oo.
OFFICERS >,f International Railway Co.— Pros., Edward O. Connotte,
V -i> k 1 Dickson; V.-P. A Gon. Counsel, Thomas Penney; See. & Trcas.,
Geo.' W.‘ Wilson; Aud., Charles A. Chavel.
OPKlCi’ Its of International Traction Co.— Pres.. Rodman E. Grlscom,
V -Ps E (; Com ett" md A. P. Forbts; Sec. A Treas., Geo. W. Wilson,
Aud., Chas. A . C havel— V. 105, p. 497, 2272; V. 107, p. 181, 398.
BURLINGTON, IOWA.
B U R L IN G T O N
R A IL W A Y
&
L IG H T
CO.
.
„
ORGAN 1ZATION .— Incorp. In 1912 In Delaware and acquired the Poo
pie’s Gas S Klee. Co. and old Burlington Ry. A Light > o. Does entire
t
municipal and commercial electric lighting and power himlntM In Burling
ton, Delta, Martinsburg, Fremont, Medlapolls, Wapello, What Cheer.
West Burlington, Sigourney, Hedrick, Thornburg, Winfield, Milton and
Morning Sun, all In Iowa. Also owns steam-heating and gas plants.
Railway franchises are perpetual, except for two suburban extensions of
minor importance. Lighting franchises in Burlington expire in 1927,
STOCKS AND BONDS— bate.
Interest. Outstanding
Maturity
Common. *3.600.000.........................
=
* }-^ 0 ,0 0 .
.........
Preferred $2 000.000 6 % cum . - - - 8 W
8o,e
First mortgage *7.600.000. gi 1912
6 M-S
1,<31.000 Mar 1 1932
($1,000) sinking fd. -C *(f/ Int. at Kqult. Tr. G o.. N. \ .. Trustee.
Bonds.— Remaining bonds are for additions, betterments or extensions
under certain restrictions. at 80% of cost. Callable at 106 aud Int. on any
Int. day on 3 months’ notice. Sinking fund of 6 % of gross earnings began
July 1914. V 95, P 678
<
.
•
Dividends.— 6 % is being paid on preferred stock.
E A R N I N G S - * * y ^ e n d l M D ^ . 31:
19
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
M-N
$1,000,000 Oct ’06. 2%
Stock. $1,000,000 (par $100)...........
1st M . $900,000. gold. $1,000/ 1900
6 g M-S
900.000 Mar 1 1925
each_______________ c*cptI Interest at W. A. Clark A Bro.. Butte.
Bonds.— May be called for payment on Mar. 1 1915, or on any Interest
day thereafter. Sinking fund of 10% par value of bonds began Mar 1 1916.
Dividends.— In 1905, 4% ; In 1906. May. 2% ; Oct.. 2% ; none since.
EARNINGS.— Years ending June 30:
Year—
Gross. Net (aft. Taxes). Depr’n.
Interest.
Balance.
1917-18. a— $700,866
$132,523
$53,758
$44,667
$34,097
106.097
51.135
42.687
sur.11.974
1910-17......... 722,357
1916- 10___ 550 037
100.6S6
63.288
43 459
sur 3 939
Passengers carried in 1917-18, 16,237,664, against 16,138,557 in 1916-17
and 12,494,722 in 1915-16.
R O A D — Operates 39.0857 miles of track. 56-60-80-85-90-lb. T rails.
61 passenger and 4 work cars.
OFFICERS.— Pres., W. A Clark. Butte; V.-P W A Cl irk. Jr.; Sec.&
Treas., J. II. Anderson, 20 Exchange Place, N. Y .— V. 107, p. 694.
CALAIS, ME.
CALAIS STREET R A ILW A Y.— A trolley road.
ORGA N IZA TIO N .— Stock. $50,000 com. and $50,000 pref.; first
mortgage, 1910 (n tf). As. J-J. $100,000 duo July 1 1930.
R E PO RT.— Years ending June 30:
Fiscal Year—
Gross.
Net. Int.&Tax. Divs. Bal.,Sur.
1917- 18................. ....... $41,926
$8,905
$6,072
$2,500
$333
1916-17............................ 42,411
8,773
5,791
2,500
482
ROAD.— Calais Street Ry . lower wharf to upper bridge. Calais. 4 miles;
St. Stephen Electric Ry.. Mllltown, N. B.. to .St. Stephen, N B . 3 miles;
total. 7 miles. The St Stephen Electric Street Ry Is a separate corpora
tion, but Is owned entirely Dy the Calais company
9 cars
OFFICERS.— l*roa.. George A.' Curran; Sec. Treas A Gen. Mgr.;
Benjamin Y . Curran; Supt., C. F Fray: all of Calais, Me.
CANTON, MASS.
BLUE HILL STREET RA ILW A Y.— A trolley road
New Control.— On Nov. 1 1917 Michael A. Cavanaugh of Roxbury. Mass.,
purchased tho holdings of Stone A Webster (former Managers).
STOCK AND BONDS— Dale.
Interest. Outstanding
Maturity.
Stock. $300,000 ($ 1 0 0 ).......................................
$300,000
- ...............
First mortgage. $500,000. / 1903
5 g A-O
25 .000 Oct 1 1923
gold________ __________ \Int. at Old Colony Trust Co., Boston. Trua.
Bonds.— Callablo as a whole at 115 and int. Nou-taxablo In Mass.
EARNINGS.— For years ending Dec. 31:
Year—
Gross.
Exp. ATaxes.
Net.
Int., Ac.
Deficit.
1917.........................$88,474
$81,518
$6,956
$21,498
S14.542
1916......................... 92.962
74.611
18.351
19.890
1.539
ROAD.— Operates 19.7 miles of track from Mattapan. where connection
Is made with tne Boston Elevated Ry.. to Canton and Stoughton, at which
latter point It connects with the Brlsfol A Norfolk Street Kv and the Bay
State Street Ry. Standard gauge. 26 cars. Franchise perpetual
Power
station capacity, 487 k. w.; also purchases power from Bay State Street Ry.
OFFICERS.— Pres, and Gen. Mgr., Michael A. Cavanaugh: V.-P. and
Treas., Ray C. Cavanaugh; Clerk, James P. Dunn, Taunton, Mass.—
V. 106. p. 85.
.
CAPE M AY
CAPE MAY, N. J.
DELAW ARE
BAY
& S E W E L L ’ S P O IN T
R A I I .R O A D .
In Dec. 1917 the U. S. Navy took over the physical properties of this co.
and of the Ocean St. Passenger Ry., extending from Cape May Point to
Sewell’s Point, 7 mill's, which bad been sold for junk at receiver’s sale in
April 1917. V. 105, p. 1610. 2271.
CEDAR RAPIDSriOWA.
IO W A
R A IL W A Y
&
L IG H T
CO
ORGANIZATION.— Is a re-lncorp. In 1912 of the Cedar Rapids A Iowa
City Ry. A Lt. Co. and ha* acquired the properties formerly owned by the
following companies
Bello Plaine Elec. Co.
|Nevada (Iowa) Electric Co
Boone Electric Co.
Perry Elec. Lt.. Pow A Heat Co.
Cedar Rap. A IowaOy. R y. A Lt.Co. |Tarna A Toledo Electric Power Co.
Marlon Light, Heat A Power Co.
ITraer Elec. Co.
Marshalltown Lt.. Power A Ry. Co I
Owns and operates entire electric light and power properties In Cedar
Rapids. Marshalltown. Boone, Marlon. Perry. Belle Plaine Blalrstowu,
Traer, Chelsea, Tama, Toledo and Nevada, and supplies more than 50 towns
through its high-tension lines, lnterurbati road between Cedar Rapids and
Iowa Clty.anu Cedar Rapids. Lisbon and Mt. Vernon, the local street rail
■Gross revenue_______$431,580 $427,285 $405,352 $400,818 $366,614 ways in Marshalltown and Boono; the gas plant in Marshalltown and
Net (after taxes)___ 176,124
186,703
182,508 182,373
177,349 tho heating properties in Cedar Rapids, Boone. Marion, Traer and Perry.
ROAD — Owns and operates about 23 miles of track In Burlington Intorurban roail is on private right of way. Also does a freight business,
and Its suburbs 6 6 to 85 ib. T rail
62 passenger cars
exchanging freight with four steam roads.
OFFICERS.— Pres.. Ceo. H. Illgbeo; V.-I’s., E. O. Walsh and M . A .
Cditiuil with City. — For contract with c ity of Cedar Raplus for the con
Walsh; Sec., Treas. A Gen. M gr.. C. H. Walsh.— V. 95, p. 678, 1039.
struction of a dam. Ac., see V 98. p 235
’
Also has a contract with the Iowa Electric Co. (V.lOO.p. 2171) an allied
company, for the Interchange of power.
STOCK A N l) BONDS—
Date.
Interest. Outstanding
Maturity.
B U R L IN G T O N T R A C T IO N C O .
Common $3,000.000...................................... ........
$1.700 000
s-e ext
STOCK AND BONDS—
Date. Interest. Outstanding.
Maturity.
i rel. $5,000,000, 7% cum.................
Q-M
3,576.455 Sept 18 14*
169.000 lune 1 1923
Stock. $200,000 (par $100)--- - - - Q-F
$200,000 Aug. 18, 24* Oed Rap A Iowa City R A Lf 1903 5 g J-D
1st M $2,000,000 gold ($ 1,-(Illinois Tr. A Sav. Bk Chicago, co-trustee.
80-year bonds, $500,000-- - t f 1912
6%
350,000
1942
000)................ ..
.....c * tfl
Int. at Harris Tr. A Sav Hank Chicago.
Bonds — The remaining $150,000 bonds can only be Issued with perrnls
1st A ref mtge $10,000,000 gi 1912 5 M-S
4.721.000 Sept. 1 1932
slon of Public Service Commission.
($500 and $ 1 .000)
e*tfi Harris Tr. A Sav. Bank. <Mileage trustee.
Dividends.— Previous to 1903. 4% yearly. From 1903 to 1912. 6 %
825.000 Aug 15 1919
yearly. In 1912. 1913 and 1914, s% .
In 1915, Fob., 2 % ; May, 24*% ; 2-year notos, $2,000,000 g ,l 1917 6 g F-A
($500 A $1,000)c*...............(Harris Tr. A Sav. Bank, Chic., Trustee.
and same rate quar. since to and Incl. Ah!?- 1918.
Bonds.- Of the remaining 1st A ref bonds $189 000 are reserved for prior
Year endino June 30—
dross.
Net.
Charges.
Divs Surplus
1917-18
$165,663
$61,371 $17,500 $20,000 $23,871 lion, $1,149,500 are pledged as security for the 2-year notes and remaining
1916- 17 .............
152,261
61,434
17,500
20,000 23,934 bonds are for extensions and additions at 80% of cost for acquisitions, Ac.,
1915-16 .................
147,690
62,435
17.500
20.000 24,935 under certain restrictions. Subject to call on any interest date at 104 and
ROAD.— Owns 12 miles of track In city of Burlington
Ralls <(), 70 Interest. Sinking fund 1% per annum of bonds out. Mar. 1 1910 to 1921:
and 76-lb" T Owns 16 box cars. 18 open cars, 2 convert, cars, 2 snow plows. 1922 to 1926, 2% ; 1927 to 19.31,3%. Sink, fund to be used for redemption
OFFICERS.— Pres., Ellas Lyman; V.-P. A Troas., Jno. J. Flynn; Sec.. of bonds or for oxtons. and betterments. V. 95, p. 750. Notes are rail,
on 30 days’ notice at 101 and int. prior to Aug. 15 1918 and at 1004* and
O. W . Brownell.— V. 94, p. 1 1 8 5 . ___________
Int. thereafter. Interest Is payable in N. Y. or Chicago. Secured by
lodge of $1,149,500 1st A Ref. Mtge. bonds, the notes being Issued on (he
asis of 72% of tho face valuo of bonds pledged. Remaining notes may be
Issued as add’l 1st A Ref. Mtge. bonds are pledged In the foregoing ratio.
B U TL ER R A IL W A Y S C O .
Ou Ced. Rap. A Iowa City Ry. A Lt. 1st M . a sinking fund began April
ORGAN IZATION .— Incorp. July 1 1917 in Penn, as successor to 1 1908 and bonds are subiect to call at 1074* A Int. See V . 77. p 2279.
the Butler Passenger Ry., the City Division of the 1 Ittshurgh A Butler
Dividends.— 7% Is being paid on pref. stock. On common, in 1911 to
R y. (the Intorurban Division of wliich was sold under foreclosure May 9 1914, 2% per annum. In 1915, 4% ; in 1916 and 1917 at the rate of 6 %
1917— see Pitts. Mars A Butler Ry., successor co., under Pittsburgh).per annum.
Tho property of the Butler Pass. Ry. was taken over by the holders of
EARNINGS.— Of combined properties year ending June 30 1918,
$500,000 1st mtge. 5% bonds duo 1930 and reorganized.
gross, $1,985,973; net, after oper. exp., taxes, maim, and renewals, $623,
STOCK AND BONDS.— Date.
Interest. Outstanding.
Maturity. 786; annual Int. charge (Incl. notes), $305,362.
ROAD.—Operates an interurhan road 45H miles long on private rightStock $300,000 ($50).................................................
$^50,000
5 g J-J
,
2M.000 Ian 1 1948 of-way substantially 100 ft. wide between Cedar Rapids. Iowa City aud
First mortgage $.300,000 gold 1918
Int. payable at Butler Co. 1rust C o., trustee. Lisbon; also local street railways in Marshalltown. Boone and Cedar Rapids.
($500 A *1.000)— c*A r.tf
42 pass, cars, 30 freight; misc., 8 ; total, 80 cars. Capacity of steam generat
Butler, Pa.
ing plant, 19,000 k. w. In tho fall of 1917 completed the installation of a
Bonds.— Not subject to cal and no sink. fd.
w. automatically controlled hydro-electric plant at Cedar Rapids,
R O A D .—Operates 13.28 miles of track in Butler. Rail (girder, except 2.000 k.of its kind to bo put in operation.
tho first
214 miles T). 65-lbs. Gauge, 5 ft. 2 In.
^
OFFICERS.— 1 res unu Gen Alan.. William G. Dows; V.-F. aud Trees .
’
OFFICERS.— Pres., A. L. Roibcr; V .-P., Peter Duffy; Sec.-Treas. and Isaac B. Smith- V.-l\, John A. Reed: Sec.. < . S. Woodward, all of Cedar
<Jeu. M gr.. R. E. Spreukle.
Rapids.— V. 103, p. 1508; V. 105, p. 716. 818: V. 106. p. 602.
BURLINGTON, VT.
BUTLER, PA.
BUTTE, MONT.
BUTTE ELECTRIC RAILWA Y.— Trolley.
. „
^ .
This company was Incorporated In West Virginia In December 1899 as
successor of the Butte Consolidated Ry.. sold at foreclosure.
Interest due on Mar. 1 1915 was paid Sept. 1 1915 and subsequent cou
pons duo March 1 and Sept. 1 1915 and March l 1916 wore paid 6 months
after they became due. Subsequent coupons paid when due.
Strike Settlement-—Wages.— In Aug. 1917 a strike on the c o .’s linos was
settled by tho adoption of a new wage scalo of 4744 cents, ,50 cents and
5344 cents per hour for men In tho co. s employ for one, two or more years,
respectively, representing an Increase o f 1244% over former wages. Effec
tive July 16 1918 an Increase of 6 cents per hour was granted the men as a
temporary measure pending submission of tho wago question to tho National
War Labor Board. V. 107. p. 094.
Fares.— In Aug. 1918 applied for an Increase In cash far** from 6 to 10
cents, tickets to bo sold at tho rate of 4 for 26 cents.
E
CEDARBURG, WIS.
MILWAUKEE NORTHERN R Y .— An electric road.
ORGANIZATION. — Incorporated In Wisconsin In 1905. Operates Incerurban system entirely on private right-of-way. Franchise In Milwaukee
expires Dec. 31 1934 and provides for 5-cent single fares and that 8 tickets
be sold for a quarter within city limits. Fort Washington franchise expires
Jan. 2 1956. All others perpetual. Enters Sheboygan over tracks of She
boygan Electric Co under perpetual contract
Fare Increase.— In July 1918 Increased rates from 8 tickets for 25 cents
to 6 tickets for 25 cents for the duration of the war. V. 107, p. 82.
STOCK AND BONDS— Dale.
Interest.
Uutsianamu
Maturity.
Stock, common $ 1 .0 0 0 .0 0 0 .................................
$ 1 .0 0 0 0 0 0
. ...
...
1st pref., $400,000, 0% cum................................
100.000 Apr 17,3%
jd pref, $600,000. 6 % non-cum____
M-S
600.000 Alar 13,3%
1st mtge $4,000,000 gold/ 1911 5 A-O
1,595,600 Apr 1 1931
($500 and $1 000)_____ctf\ ln t. at First Sav. A Tr. C o., Mllw.. Trustee.
ELECTRIC RAILWAYS
20
w
[V o l . 10 7.
N
N
V L E JC .
AL Y T
(IOWA)
Jf i
• Galeni
2
Waukegan
/Rockford
Freeport
C II I G A X
COLFAX
(IOWA)
.o Savanna
H W SH R N
E
AO
(IOWA)
V
De Kalb°
’ Dixon
^
Sterllng^J^
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A
(IOWA)
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momence
K a n k ak ee.0
STREATOR
Pontiac
<
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ga
& * *
A
so
W t ji^
Easier
\TVIchert
ST.ANNEr
Paplneau .
M
artlnion
*& f
Coal,
OSKALOOSA
>Beardstown
Petersburg
RALSTO N
( n e b .)
SO. OMAHA
(NEBJ
-o
LOUISVILLE
(n e b .)
fQ uiN C V
S P R IN G F IE L D
Woods!
Chath
A
JACKSONVILLE
Auburn
Thayer S
Virden § O
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Roodhouse
Nilwood
1C
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nroa|
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O f o . Forsyth)
J
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y W
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(KANSAS)
Gillespie
Jerseyvllle
Benld
WICHITA
5
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(KANSAS)
V
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_ ( KANSAS)
w
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BULL,VAN 2 J Jh'bl’L
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ltobinson
JPaxton
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aktorvn
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NORTH*
MISSOURI
TRANSM
ISSION S T . L O U I S ',
. LIN
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MISSOURI
P R RENTE/!
ER Y
FRAN/FORD
NEW L N O
ODN
c SALEM
l
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f T• L o ,JISy<itdJ
Belleville
Centralia
Lawrencevllleo^
VINCEN
NES'S.
It
JKell
Munden
Kenneth
oWaterloc
" f Q,..
StreekRailway
Carvel
Bonnie
Ina
c McLeansboro
Whittington
Cabool
Carml
>Du Quoin
Electric Eight
9
Street Railway & Electric Light
■
A
Street Railway, Electric Light and Heat
Street Railway, Electric Light and Gas
X
Street Railway, Electric Light, Gas and H
eat
A
; BENTON
_ Chester
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Murphysboro
Electric Light and Gas
O F
CHiCAGO, OTTAWA & PEORIA RAILWAY
))!] j
TE RR ITO R Y IN ILLINOIS
»
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J Goreville
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e x p l a n a t io n
n
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Inierurban Lines
Inierurban Railway and Transmission Semico
,Metropol
Street Railway, Electric Light, Gas, Heat and Ice
rA
SH W G C N E T N W
O IN O N C IO S ITH
CHICAGO & EASTERN ILLINOIS RAILROAD
CHICAGO, ROCK ISLAND & PACIFIC RAILWAY
J Little
r
• • • • • • Electric Light Transmission Lines
T H E
IL L IN O IS T R A C T I O N S Y S T E M
sr/ciark
Vn S A 0on \ f / r i V o t \
HP Electric Light, Gas and Heat
M A P
> I M Ie
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A“ nn
Electric Light and Water
j Decker
3 j lu ' lcu,n / Blackburn
zlPatoka
o I MARION
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/Thomas
/Sandy H
ook
I Cypress
u|Prlnccionr Jlaasey
CJX'J'V n I King / ’ O K D C
A LAN ITV
(Johnston City
o/Spillertown
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<I
Eldorado
EH Electric Current Sold to Local Companies
Elliston
P m
lum er
Lester
Stinkard
K
lnora
fH
yatt
IG
raham
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/ llawklns
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o Sparta
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yJohn*town
. jlch
.W
ASHINGTON
P
urcell
$ tj
JCartter
Mon
Nashville
City Propertiescontrolled
by the lllinoisTraction Co.
X
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J
f Loogootee
5
f St. Peter
(MISSOURI)
o
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ysburgJ
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el
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im
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1st. Elm
' St. Jame
3
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CITY
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Sprin^fllll J
ALTAMONT
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West Union
I West Melchct
(Mecca
■Coxvlllo
Kosedale
C A BUF
OL L F
Beech Grove
McClelland
Compton
Harpers
Lane
BRAZIL
Kurcka
W
atson
Ehrlich
wVandalla
uAshboro
TERRE HAl^TE
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CARLINVILLE
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ATTICA
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Sanffamoti_ River
( n e b .)
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T * 9' Z
Oxford
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HopedaleJ a.Mlnier
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LINCOLN;
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PAP1LLON
VPERCY JC.
JGoodland
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SWANINGTON
(IOWA)
(IOWA)
*
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G A L E S B U R G ^ * G )E a s tG a le s b u r tt
‘
CHICAGO HEIGHTS
/A « ^
A ^ L a fa y e t t e ^ :
W a ta g o (
v
Thornton.
Gleijwood
V°
c*tke
Altona/
Oneida/
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* Street Railway, Electric Light, Gas and Ico
u
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Bonds.— Remaining bonds may be Issued only when net earnings are
twice int charges, lncl. bonds to be Issued, at not exceeding 759?) of cost
of extensions, additions. Ac. Subject to call at 105 and Int. V . 92 .p . 725.
° Dividends.— Dividends or 3% paid s.-a. on 1st prof, from Sept. 1911 to
Mar 1914 (lncl.). None to Jan. 1916. whon 1)4 % was paid. In May 1916
% and >4% each month thereafter to Oct. 1916. In Dec. 1916 paid
oil/1 tn Af,nl 1917, 3% . No later Information. On 2d pref. paid 3%
1
h -V from Sept. 1911 to k a r . 1913, lncl. None since.
' EARN INGS.— For years ending June 30:
_
.
_
.
Year—
Gross.
Exp. A Tax.
Net.
Interest.
Surplus.
2916-17............ $359,589
$197,465
$162,124
*79,775
*82,349
1915-10 ........... 332.336
185,240
147,096
79.775
®J.32l
1914G 5............ 334,563
192,383
142,180
79.750
62.430
ROAD.— Will be 120 miles long, running north from Milwaukee to Cedar
burg, where It forks, one branch extending to Sheboygan via l ort Washing^
ton and tho other to Fond du Lac. Operates 69 miles of
6>4 miles In Milwaukee, between Milwaukee, Cedarburg and 8beb°ygam
Is double-tracking tho line between Milwaukee & Cedarburg, 10 miles
completed. Gauge, 4 ft. 8)4 In. 70-lb. T rail.
. ,
.T
w
OFFICERS.— Free.. Wm. A. Comstock; V.-P. and Gen. Man.. 1 « .
F.
Walker; Sec. and Treas., Henry A . ^•’ "th.— V. 92, p. 72o, \ . 107, p. N-
CENTERVILLE, IOWA.
() RG A
31
ELECTRIC RAILWAYS
Sb p t ., 1918.]
AT l (U ? --(VrXln Ized * n Maine In 1905 as the
T
9^6
acoured
without com petition the street railways serving C 2^ “ v , "V pt-u111n o \\1b la ’
,
passenger and freight electric railways extending from Center ville A b ,
Iow a, with abou t 32 miles o f interurban track. Has also acquired all the
property o f the M ou lton Elec. C o ., Leon Hlec. C o . , M t. A yr L t. &
,
.
C o ., Lenox Elec. C o ., Clearfield Elec. C o. and B lockton L t. & l o w . 1
Oo.,
thus owning all the public utility p r o p e r t y serving m ore than 27 com m un
ties, with an estimated population o f 5^ 0 0 ° . in clu m t^ AllJla, Cta it e m l l ,
M ou lton M oravia Allerton. Loon, M t. A yr, oiearrieia ana ljon ox.
F r S n c S run beyond life o f bonds and contain no burdensom e restrictions.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity.
Common stock $1.000,000— ---------------nan -------------Pref stock 7% $500.000-...................
-----860.050 —g - . - r , Serial debenture mortgage - - - - « 2 0 0 . 0 9 0
serially
O. Iyjv 0 « 1 L 'JV
V
1st M $2,500,000 «k fd gold] 1910
6 g ^ -0
898,700 Vt-u A 1933
Central Trust Co.
no
tc SI 000) c*.tf ( Int. In N. Y. or Chicago
rideem^at 105 and interest! of Illinois, trustee.
^ ^
_
I5l/Inmisa— ^diVoct'first mtgo. upon the'properties, A c.,’ bow owned and
hero after acquired
Additional bonds may be Issued up to $0% of cost of
nermanent 'extin*. Ac., when net earnings are twice lut. charges on all
Conds outstanding Including those proposed. A minimum malnt. charge
for railway1properties of 17% of gross earnings from railway opwatloas, is
nrovhled y Sinking fund beginning March 1 1919, of 1 0 % of net earnings
For the previous year, but not loss than 1 ) 4 % of the average amount of
1st M blinds outstanding during tho year to retire bonds or for permanent
lmnrovemcnts
V. 104, p. 73. The debenture bonds are secured by mortirace subject to the first mortgage bonds.
___
^ EARNINGS.— For year ending Dec. 31 1917, gross, $375,019; not, after
taxes. $109,120; int. on bonds, A c., $61,747; dividends, $24,500; surplus,
Q u in c y a A d G a le s b u r g ,
(c ) in c r e a s e s p e r 1 ,0 0 0 c u . f t . o f g a s f o r t h e fir s t
5 ,0 0 0
c u . ft . c o n s u m e d m o n t h ly a s fo llo w s : D e c a t u r , 10 c e n ts , D a n v ille ,
2 0 c e n t s ; C h a m p a ig n , U r b a n a a n d G a le s b u r g , 2 5 c e n t s .
T h e M o . F . »•
C o m m . a u t h . a n in c r e a s e in t h o c h a r g e f o r g a s s u p p lie d a t J e ffe r s o n C i t y ,
M o.
V . 106. p . 2228.
O n J u l y 2 1 9 1 8 t h o 111. P . U . C o m i n . a u t h t h e
P e o r ia R y . t o c h a r g e a s tr a ig h t 5 -c e n t fa r e p e n d in g in v e s t ig a t io n b y t h e C o m .
S u b s id ia r y c o m p a n ie s ’ b o n d s in t h o h a n d s o f t h e p u b lic A u g . 1 1 J 1 8
a m o u n t e d t o $ 5 1 ,1 3 8 ,5 0 0 .
*
STOCK AND BONDS—
D a te .
In ter es t.
O u tsta n d in g . L a s t D i t l d
D e b o n tu re g o ld
P e n n s y lv a n ia
000
Apr
18
1
^
1927
l e S S S &
t i &
Z . . . .
w
'j g j p s
* 3 * 1 * 1 .3 3 6
. w
f i m
A
j
g|w"“ ................ ? -T O
3-M
§:642 2-g5i:?3i 3® S
E h w tr fc I I I I I I I I I I I I I I
H e a t, w a te r A m ls c e ll..
4 .2 9 5 .5 0 1
9 0 2 ,2 4 8
3 ,6 8 9 .8 5 2
8 4 8 ,3 0 7
3 .3 2 5 ,4 1 1
5 2 6 ,8 1 8
3 .0 0 2 ,3 7 8
5 8 3 ,9 9 9
Total g r o s s e a r n i n g s . . $ 1 4 , 0 4 0 , 8 7 0
Oper. exp. and ta x e s ... 9 , 1 4 9 , 1 7 6
$ 1 2 ,5 6 8 ,4 4 7
7 ,4 8 9 ,7 9 7
* D > 1 8 7 ,9 9 5
6 ,6 5 7 . 5 6 9
$ 1 1 ,1 1 2 ,8 5 4
6 ,5 8 7 ,4 6 2
Net earnings.........................$ 4 , 8 9 1 , 6 9 4
Interest on bonds, A c . . 3 , 7 1 9 , 5 4 1
* 5 ,9 7 6 .6 5 0
|L580><26
$ 4 ,5 2 5 ,3 9 2
* 3 > 5 2 2 ,' ! i §
* ? ’ 5 o 8 '? i n
C o m m o n ^ 'r l d e n d i i : : :
(3 )3 6 7 :5 8 4
(3 )3 6 7 :5 3 9
sj ° £
(3 )3 6 8 :7 3 2
%jj?fcJR
(3 )3 6 7 .3 9 0
%8S:?3S *4
iSI§:ggI
F r o m t h e " b a l a n c e a s a b o v e In 1 9 1 7 t h e r e w a s d e n t e d $ 8 5 0 , 7 0 5 f o r d e
p r e c ia t io n a n d $ 8 2 ,1 4 0 fo r b o n d d is c o u n t , a g a in s t $ 5 0 5 ,5 6 5 a n d $ 6 5 ,2 8 3 ,
r e s p e c t i v e ly , in 1 9 1 6 , r e s u lt in g in a d e f i c i t o f $ 3 6 2 , 1 / 3 in 1 9 1 / , a g a in s t
a s u r p lu s o f $ 1 0 6 ,6 7 0 in 1 9 1 6 .
,
. . .
s o o s i t i n (fo r
L a te st E a r n in g s .— F o r 7 m o s . e n d in g J u l y 3 1 1 9 1 8 , g r o s s , $ 8 , . 8 3 , 4 1 0 ( f o r
in t e r u r b a n , $ 2 ,6 1 4 ,1 3 6 ; c i t v p r o p e r t ie s 8 5 ,6 6 9 ,2 8 0 ) ; e x p e n s e s $ 5 ,6 4 0 ,2 2 8 ,
t a x e s , $ 3 5 8 ,9 9 4 ; n e t , $ 2 ,2 8 4 ,1 9 5 .
I n 1 9 1 7 , g r o s s . $ 7 ,4 9 9 ,6 5 5 , n e t , $ 2 ,6 5 2 ,-
D ec. 4 1900.
STOCK AND BONDS—
Date.
Interest. Outstandlno.
Maturity.
_____
$225,000 ---------------HtsirU *925 000 (*501
m m t|l $225.d00 ($ I ,0 W ,] 1903
5 M-N
225.000 May 11933
not red., no sluk. fund -c*i Int. at Northampton Tr. C o., Easton, Trust
EARN INGS.— For calendar years:
_
„ _
_
Year—
Gross.
Net.
Oth. Inc. Int. A Taxes.
Deficit.
1917.................. $38,653
$9,073
$232
*11.733
*2-428
1916.................. 38.098
8.396
304
11,067
2,967
1915.......
35,930
5,509
195
11.896
6,192
ROAD.— Operates 13.25 miles of track betweon Ohambersburg, Stofferstown. Fayetteville, Greenwood and M t. Union. 60 to 80-lb. T and
girder rail. Gauge, 5 ft. 2)4 In.
. _
„ 7 r
r... u
OFFICERS.— Pres.. T B. Kennedy: Sec. and Treas., w . L. Ritchey
8 up t„ D . B. Fretz.— V. 105. p. 2271.
C H A M P A IG N , i l l .
ILLINOIS TRACTION CO.— (See Map on page 20.)
ORGANIZATION.— Incorporated In Maine on May 13 W04. On
Nov. 10 1913 Increased the auth. common etock from $10,000,01)0 to
S15.000,000, In order to acquire control of the allied Wes ter a Railways «
Light Co. Two shares of Railway A Light com. were exchanged1 for ene
of Illinois Traction com., $4,510,400 of the $4,621,800 stock outstanding
bolug so acquired. The pref. stock of the Railways A Light Co. remains
outstanding. See V. 97. o. t426.1604. Control* th*ifollowing oamoanUs
♦Atchison Ry., “ A n -------Jefferson C ity Bridge A Transit C o.
Lt. *• Power Oo.
Bloomington Decatur A Champ. RR ♦Jefferson City Lt., Ht. A Pow. Co
Bloomington A Normal Ry. A Lfc.Co. Madison County Light A Power Co
M ills C ounty Power C o.
♦Cairo City Ga* Co.
Montezuma El. Lt., Pow. A II tg. Co
•Cairo Electric A Traction Oo.
Moutlcollo Electric Light Co.
•Cairo Ry A Light Co.
♦Mound City Light A Water Oo.
•Cairo A St. Louis Ry. Co
New Valley Junction Water A Lt. Oo.
Central L i g h t i n g Co.
♦Chicago Ottawa A Peoria Rv. Co. •Northern Illinois Light A Trac Oo
N orth Missouri Light A Power C o.
♦Citizens' L tg.C o., La Salle-Peru.
Citizens Pure Ice C o., Jacksonville. Omaha A Lincoln Ry. A Lt. Co.
Oskaloosa A Buxton Elec. Ry, Oo.
Clinton (III.) Gas & Electric Co.
Oskaloosa Light A Fuel C o.
Colfax Electric Light Oo. (Iowa).
Oskaloosa 'Traction A Light Co.
♦Consumer* Water A Light Oo.
Danville Cham. A Dec. Ry. A Lt.Co. Peoples’ Traction C o.
Peoria Railway Oo.
Danville A Eastern Illinois Ry.
•Quincy Railway Oo.
Danville A Northern RR.
St. Louis Electric Bridge Co.
Danville A Southeastern Ry. Co.
Danville Street Railway A Light Co. St. Louis Electric Terminal Ry.
Danville Urbana A Champaign Ry. St. Louis Springfield A Peoria RR.
Topeka Railway A Light Co.
Decatur Railway A Light Co
Topeka Edison Oo.
Des Moines Electric Co.
Doe Molno* A Cent. Iowa Elec. Oo. Topeka Railway Co.
Urbana A Champaign Railway, Gas
G a l e - i b u r g A r t i f i c i a l Ice Co.
f. Electric Co.
(/
A U1 tm i Oa
^
•Galesburg Ry.. Lighting A Power.
Urbana Light. Heat A Power Oo.
Galva (HI.) Electric Light Co.
•Wichita RR. A Light Co.
Illinois Central Traction Co
Jacksonville Railway A Light Co.
. _. _
Companies marked with • formerly comprised Wester* Rys. A Lt. Sys
In April 1907 obtained a 50-year franchise on certain streets of St. Loul*
and was also gl»en authority by the U. S. Government to build a bridge
across the Mississippi River between Venice.III., and St. Louts. M o. This
bridge was opened to traffic in Nov. 1910 and, with terminals In St. Louis,
represents an investment of over $6,000,000. V. 92, p. 259. On Juhr 1
1911 began running express trains between St. Louis A Peoria, 174 miles,
with only two stope— at Springfield and Lincoln— tho running time being
5)4 hours, or about 32 miles an hour (V. 93, d . 44). In Aug. 1911 the
company opened offices In Chicago, with the purpose of securing freight
from DOlnts botween Chicago and St. Louis, though company has as yet
no direct entrance Into Chicago. V. 93. p. 527.
,
Fare and Rate Increases.— On Dec. 4 1916 tho I.-S. C. Comm, approved a
schedule of fare between St. Louis, M o., and Venlco, Madison and Granite
oifcv III which increased the average receipts per passenger from 5 to 7.2
eenis
In Jan. 1918 tho Illinois P. 8 . Comm, authorized tho company’s
subsidiaries to charge 2 cents a mile for passenger sorvlco. Instead of tho
fixed rates within zones, effective Fob. 11 1918. On May 16 1918 the fol
lowing fare and rato revisions were authorized by tho 1 . P. U. Comm.:
11
(a) 6 -cont faro In Jacksonville and Cairo, with 20 tickets for $1; (ft) Straight
5-c*i»t faros In Danville, Decatur, Champaign, Urbana, Bloomington,
j 1 ,5 6 2
5%
D i v i d e n d s . —- 6 % p e r a n n u m Is b e i n g p a i d o n t h e p r e f e r r e d s t o c k ,
fir s t
d i v . o n c o m .. M % . p a id M a y 1 5 1 9 1 3 : s a m e r a t e q u a r . t o a n d in c l. F e b .
1 9 1 8 ; M a y 1 9 1 8 d iv . o m itte d (V . 1 0 6 , p . 1 2 3 1 , 2 2 2 8 ).
D iv id e n d s h a v e
b e e n p a id o n W e s te r n I ty s . A L ig h t p r e f. s t o c k s in c e o r g a n iz a t io n .
R E P O R T . — O f c o m b i n e d p r o p e r t i e s f o r c a le n d a r y e a r s (1 9 1 7 r e p o r t in
V . 1 0 6 , p . 2 4 4 3 . 2 4 5 6 ):
.
C H A M B E R S B IJ R G , P A .
CHAMBERSBURG & GETTYSBU RG ELECTRIC R Y.
tn
b o n d s -----------------------------
W e s t e r n R a i l w a y s A Light Co.—
_ ,
Pf cum 6 % $ 3 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) ................
Q -J '
8 ,1 6 9 .0 0 0
See text
Debenture gold bonds--------- t f --------5%
1.645.000 -_------ - - - S t o c k . — Additional preferred stock can only be Issued when net earning*
are equal to 9 % on preferred stock out and the amount proposed to be
Issued. Preferred stock Is listed on Montreal Stock Exchange.
^ PROPHSUTIES.— A steam plant at Centerville with 240 miles of hlghtonslon transmission lines; steam heating systems at Centerville and Loon;
a cas generating and distribution systom at Centerville; a short street rail
way in Centerville, also electric railroads on private right-of-way connect
ing Centerville with Albia and Mystic, which do a freight and oxpross busi
ness and aro connected witli transcontinental railway linos.
O F F IC E R S .— Pres.. D. C . Bradley; V.-P.. John O. Meiners, Milw.;
Sec., L. C . Bornhard, Milw.; Troas. A Gen. M gr., Frank S. 1 ayno; Aud.,
G. E . Peek.— V. 104, p. 73._______ _
O R G A N I Z A T I O N .— In co rp o ra te d
---- --------- sm n i?K ise i i U
.
Q-J
,{$ » • * »
Common, $15,000,000 ( $ 1 0 0 ) .-----Pref 6 % cum $10.000.000(S100)_—
’ ’ r OAD.— T he Interurban lines comprise 625.61 milw of track; city lines
comprise 278.22 miles of track: total of all lines, 8 5.83 miles
In 1912
oatored Into a contract with Wabash RR. for a physical
general Interchange at Decatur. Has working agreement with all steam
roads in its territory that can be of service, except the Pennsylvania and
N
Y . Central lines.
Interurban lines have 1 9 7 passenger. 1 2 4 express,
1 .0 8 5
freight cars and 3 4 mlsc. cars, aud 3 5 locomotives; city lines have
4 2 5 motor cars and 2 0 1 others; 4 central power stations and 4 0 sub-stations
on interurban lines.
OFFICERS.— Pres., W. B. McKinley. Champaign: V.-P. and Gen. M gr..
H. E. Ohubbnck. Peoria; V.-P. and Treas..
P
2OT4'S ec
T
B . M a c a u la y , M o n t r e a l.— V . 1 0 4 , p . 8 6 3 , 2 4 4 7 ; V . 1 0 5 , p . 2 0 9 4 ,
V . 106, p . 86, 1126, 1231. 2228, 2443. 2 456. 2758.
PROPERTIES CONTROLLED BY THE ILLINOIS TRACTION CO.
O R a ' A ^ t e f t N 1- V a i S i * i'm
" . b ?A tcbl,n n
L .* P .
Oo
C o n t r o l s e l e c t r i c r a il w e v . l i g h t i n g a n d g a s p r o p e r t l ^ o f A t c h l s o n
R a tes — I n S e p t . 1 9 1 8 a p p lie d t o t h o K a n s a s P . U . C o m m , f o r a 7 - c e n t
f a r o in A t c h i s o n : IC a n . a n d a n in c r e a s o o f 2 0 % in l i g h t a n d p o w e r s c h e d u l e s .
V '8 T O o £ " A N o 'B O N D S —
f “ c t o r ? d '5 W 'w 9
d
m
.
I n u r e ,1 .
- v
%
O u u u n ttn Q .
-
‘
m
M n tn n n .
o w
l/'irvt mt#e (I 509 000_ - - t f 1910
_
5%
750,000 Nov
1935
HOAD.— Operates 9^4 miles of track. 26 cars. Supjplies city with
104 arc lights and 135 Incandescent lamps; also 14 arc* for commercial
lighting; 2.289 electric and 2,539 gas meters In use.— V . lO i, p. 1191.
(2) B leom ington Decatur & Champaign RR.
....
„
ORGANIZATION.—Incorporated In Illinois on Nov. 29 1910 as a con
solidation of the Chicago Bloomington A Decatur Ry. and St. Lnuis Decatur
A Champaign Rv. Operates on private right of way except through cltle*
and towns (8 miles) where franchises extend to or beyond 1953.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common. $3,000,690
.....................................
$3,000,000 ...................
Preferred 6 % ($1,137,500) — - ...........................
1 137.500
1910
5 g ’ M-N
1,500,000 Nov 1 1940
icioai/ •» unuow * 1 « ,jv “
~”
■
Chic.. Trustee, or Chase Nat Bank. N . Y .
muitlp re?.) ru pAI ,c*Ar*tf
1910
5 M-N
890,000 Nov 1 1940
General mortgage
iCentral Trust Oo. of Illinois Trustee,
A and $225,000 is
S to c k .- — O f the pref. stock, $912,500 is Series
In M arch 1916 Issued $500,000 5 % Ser. A pref. stock to retire a like
amount o f General M ortgage bonds.
.
Bonds — Or the $13,500,000 "1 st A re f.” bonds reserved for various pur
poses. $6,750,000 are reserved for acquisitions o f two connecting Interurban
roads (Ilanville Urbana A Champaign and Illinois Central T rac ).$ l ,26)!.000.
to redeem th« geaeral m tge. bonds, $472,000 to replace general m tge. bonds
Issued la the future and $5,019.000 for 80% o f
cost o fa d d itlo n s and
Improvements. These $5,016,000 bonds, excepting $500,000 (issuable at
any time for 8Q% o f cost o f additions and Im provem ents, with consent o f
N W Halsey A C o .) can be Issued only when the preceding 12 months
gross earnings have equaled five times and net earnings 1 H times the inter
est charge oa all bonds outstanding and those proposed to be Issued. Bonds
are unconditionally guar., p. A L , by Illinois Trad. C o . T hey are redeem
able at 105 oa any fnt. date. V . 92, p. 259. Int. on general mtge. bonds is
pavable at office of M erchants’ Bank of Canada. New York.
P R O A D .— Owns and operates 106 miles o f track (96 ml I•». m a Iri J]"®> 10
miles sidings) extending from Bloom ington through Decatur to Champaign
and Urbaaa. 60 and 70-lb. rails. Standard gauge. 248 cars and 6 lo co
m otives.— V . 102. p. 65.
(3) B lo o m in g to n & N orm al R a ilw a y & L ig h t C o
O R G A N IZ A T IO N .— Incorporated In Illinois on Feb. 23 1905 as a con
■oHdatloa o f the Bloom ington & Norm al R y ., Electric A Heating C o . and
the Consumers Light A Heating O o. of Bloom ington. Does all Io c^ street
railway and commercial electric light and power business In Bloom ington
and Normal and operates hot-water and steam heating system in B loom
ington. Principal railway franchise In Bloom ington expires in 1 9 2 9 . In
this franchise city reserves right to purchase plant at an appraised value
plus 10% or same. Railway franchises in Normal that are no4 perpetual
expire in 1922. Principal lighting franchises are. perpetual. Minor fran
chises in Bloomington for lighting and for steam and hot wator heating
BXF n J a n . 1? 9 ? 7 t
o i onrt n n n
the authorized capital stock was increased from
8 L 6 5 0 .0 0 0
lo t
r> 2«55.
In D e c . 1 9 1 7 t h e Illin o is P . U . C o m m .
t o is b e $ 5 3 , 0 0 0 additional
pref. s t o c k a n d $ 6 6 , 0 0 0
U p t o S e p t. 1 1 9 1 8 t h e b o n d s h a d n o t b e e n is s u e d .
V
authV the’ company
b on d s.
Pates.— Seo Illinois T raction C o ., above.
ST O C K A N D B O N D S —
Date.
Interest.
Coin stock. $1,260,900 ($100)............
O u tsta n d in g .
^-gOO.OOO
M a tu rity
— ..............
r.rt , „ ‘r « c.t.'S V ” *3:5® Q “ (n w i t
”.
th
1 .5 & 3 S j £ - T i s a
gold ($ 1 ,0 0 0 )______ c* A rtf (Illinois Trust A Sav.
Jr
.u^ S ;
II A N R E A H 1st m tge.l 1902 5 g J-D
600.000 Juno 1 1927
*600.000 ($ 1 .060) g . s f . c * t n l n t . at III. Trust A Sav. B k .. C h ic.. Trustee.
P Ad
Stock.— The pref. stock Is red. at 105 and accrued d ir . and is
(end.) by th* Illinois Traction O o. Tax exem pt in C o a n .. New Hamp| /lands!—-Of’ the $3,500,000 1st and gen. m tge. bond*. $600,000 are re
served for prior U.ns and $1.700.0001 for^ extensions and lmpt»> under carerul restrictions. Are guar prln. and Int. and s. f. by 1 1 T rac. C o. Int.
1
In N . Y . ar C hicago. Cailable as a whole or In part for a. f . at 102H and
22
ELECTRIC RAILWAYS
n i ' ?q?n
?Q9 » 1 <Sf
fd;,
or bonds out annually. 1912 to 1919
2% 1920 to 1928. Of the bonds outstanding. 372.000 are In sink. fund.
iin
R 't+
a/ ? 6
Heating Co. bonds are subject to call at
ln108 lSk fin d J n A
f 10-000 annually, began June 1908; $128,000 are
in sink.rund and Included In amount outstanding.
l? .P1*-^? °?. track ln- around and between Bloom
Ington and Normal. Kails 70 and 72-lb. lias 31 pass, and .5 mlso cars
1 ower station has 3,300 k. w. capacity-.— V. 104, p. 255; V. 106, p. 2648.
& Ll*ht Co.— A trolley road.
f h - l {O A I; r jAT.I^ tt ;- 7 In£,irporated on ° c t- 6 1008 in Maine to takeover
ss 6 S w
i 7 i° l T-t( ?-r? L 5?' * T r c ’ ° ° - and the Cairo City Gas Co. V
£
. 1J
( a lroIilec.A Trac. was a cousolidation o f the Kgypt
Electric C o. and the Cairn Elec Light A Power Cn.
Rates.— See Illinois Traction C o., above.
STOCK AND HON US—
Date. Interest. Outstanding.
Maturitu
p*«rki^^«-M m°i™ n 9 9 0 < 1°°1 A" owo « l by Western Rys. A Light Co.
5
£ air°.KZ * Lt M *1.000.000gn tf 1908 5 g J-D
850.000 D e c ' l ' l 9 3 a
°
h1o nnm0 0 000, 8ntf|1903 5 ft J-D
150,000 June 1 1923
($500 and J1 000)
cntf lin t, at Central Trust C o., Chic, Trustee
Cairo C ity Gas ( o$< 5.000 gold !903
5 g J-D
75,000 June 1 1923
n n i n - C n K & T « od?.b su1> ’ to 03,1 on any ■nt. date aft. 10 yrs. at 105.
1
^ ° p e r a t e s . 9 m lle 8 of track ln Dalro. together with the electric
lighting and power plant. 24 cars. Furnishes city with 119 arc and 196
Incandescent lights; also supplies 40 commercial arcs.— V. 8 8 , p. 293, 374.
(5' Cairo & St. Louis Ry.
• incorporated in Illinois Oct. 1908 to construct a
“
Clty^and Mounds ka8t St' P o u s ‘ 1Ias a 50-year franchise in Cairo. Mound
,.X V AD
sto7k?$;ioo!oo^ n o .N . S7 . . Da[e:
D
InteresU 0 u % A ° - Maturit»&
First mtge, $250.000,g cA rtff 1908
5 g M -N
250|000 N ov'1'1938
w ^
JPortTd(Me.)Tr.Co.,Trus..AF.D.Lunt1
PortTd
Doupon bonds are JD $ 1 ,0 0 0 pieces and registered in any desired
Rr> A r, In1 H Potfland, < e-> Tr. Co. No a. f . and not subject to call
t,
M
engine.— V~ 8 8 '^p “ 9 3 * ° f traCk cornp,etud and ln operation; 1 0 cars; 1
InleTeSt-
K m
K '
Maturity.
3 &
gc*Ar* red at 104 and Int,{Int. at Boston Safe Deposit A Trust Co
s /f - t pr ?•a>?< Interest.. .t f 1 Trustee. H. D. Heathfleld also Trustee.
at the rate o f
6
% and also
$100
a share in tho’ ovent of invohm ^vnqulda.'
•are guar •by e n /° ~
t
Bond*.— Secured by all the stocks and bonds of constituent companies
namely $1,454,000 Dec. Ry. A Lt. Co. Consol. A Ref. 5s: $1,074,000 Urbana
A Champ. Consol. A Ref. debs.; $1 400.000 Danville St. Ry. A Lt
r5aand 310.000 Urb. Lt. Ht. A Pow. Cons. A R ef. 5 s!
Imrami n f l ™ 3 0 ' t ° underlying bonds for payment of which a like
<° r C ’
V“»
Fpr bonds Is reserved. Remaining $12,680 500
,
JL
J aJLb® '8s,ued f? r. additions and Improvements to constituent companies
under certain restrictions. They are guar. p. A I. by 111. Trac. Go. as are
ub',co.; bonds deposited under this mtge. All future Issues of stocks
vnCQR°«(,SiaooC D ' t- c 0 9 -m o 3t be pledged under above coll, trust Issue
O At
y,'
Pi i n L Coupon bonds In denom. o f $1,000; regis. bonds $1,000.
$5,000, $10,000 or multiples of $1,000.
,„„i * '”i0
T111 r«tire before maturity about 40% of total bonded debt
C U iw T ft
^ r
5 9 3 -.0 0 0 (not bicl. in amt. outstanding) in sink. fund.
constituent cos. for 12 mos. ending Dec. 31 1 9 1 7
gross, $2,25o,979; net, $911,890; interest, $293,399; surplus, $618,491.
’
P a,? v l!.e Street Railway St Light.
j
^ r 'ATLm I b?P
vil1? ( -bampalgn A Decatur Ry. A Light Co.
r l° N — Incorporated In Dec. 1899 as a consolidation of all
th?T ? r w t o ," fih' R?^tric { l ^ i - S 38 and steam-heating Interests.
nnn-wMiVjM !i K I ? o1? ?• U. Comm. auth. the company to l.ssuo$129,ho
0 0 L a < 1tl? nai . b
i I
,PndS. L
not incb in amount reported outstanding),
ticket firns1" 1 6b' 1 9 1 8 WaS aUth‘ by the IU’ P ’ U ’ Comm- to eliminate
‘
Rates.— See Illinois Traction Co., above.
STOCK AND BONDS—
Date.
Interest
Outstanding.
Maturitu.
Stock. $1,500,000 ($100)_______
$1,438,000 ................
R e fu n d in g m o r t g a g e , $ 7 0 0 .-1 1 9 0 0
5 g J -j~
646.000 Jan 1 ’ 19-’25
gold ($1,000).............. c* tf/lnterest at N. W Harris A Co.
Consol and ref debs. $7,600,-1 1913
5 M-S
1.400,0 )0 Mar 1 1938
V' 9
;
----- - t f ICentral Trust Co. of 111.. Trustee.
bonds are due $6 ,0 0 0 annually Jan. 1 1910 to 1924 Inclusive
«ntnnomt » u^er °? ^an' ■ 1925. $54,000 have been retired. Sinking fund of
$0,000 per year began Jan: 1 1910, bonds being drawn (at par anu accrued
UMnnia-rpU atel2Cu order. beginning with No. 1. Mortgage trustee Is the
n
Jef d fhs of )oi•?a* ^ n o mok' oh.,ca» 0.; ,v - 7,0. p. 125. Of the consol. A
mn’ of 1913- $1.400.000 are deposited under D. C. A D. Ry. A Lt. M
of 1i6
e^propurrtySerVed l° repIace underlying bonds and $5,454,000 for cost
P R O P E R T Y .— T h e c o m p a n y o w n s t h e f o l l o w i n g ; 1 . G a s
" ,n . e r s p e ? ,a l c h a r t e r a n d a p e r p e t u a l f r a n c h i s e .
d
2. An
f np0 r n r n
l P 1 n 1 ,s o p e r a t e d u n d e r a 9 9 y e a r f r a n c h i s e ; a l s o h a s d y n a m o s
a
fo r fu r n is h in g p o w e r t o s t r e e t r a ilw a y .
3
T h e e n tir e s tr e e t r a ilw a y s v s
te r n o f t h e c i t y , 1 6 .3 7 m ile s o f t r a c t , n e a r ly a ll la id In b r l k ^ e m l m
N y M , i n a i t Q «tihn e e P ? F k s ' t h e r a i r g r o u n d s , c e m e t e r y a n d r a i l w a y c f e p o t s a n d
N a t i o n a l S o ld ie r s H o m e .
E a u i p p e < l w i t h 5 0 . 0 0 a n d 7 0 - l b . J o h n s o n T r a il s
™ ':)t? J “ r { „ ( G T
a l E l e c t r i c ) a n d 12 o t h e r s .
F u r n is h e s e le c t r ic
O h r is m a n *
W
t
0 , G e o r g e t o w n , R ld g e fa r o i.
I n d ia n o la , S id e d
and
C O^FICERS^— Same as those for Danville Urbana A Champaign Railway
(b) Decatur Railway & Light Co.
O R n T v R i T m v Vil1? C h a m p a i g n A D e c a t u r R y . A L i g h t C o
O R G A N ! Z A T I O N — I n c o r p o r a t e d i n I l l i n o i s ln D e c . 1 9 0 3 . t o t a k e o v e r
t h e p r o p e r t y o f t h e D e c a t u r T r a c t i o n «& E l e c t r i c C o . , t h e D e c a t u r G a s Sc
1 9 i 7 ^h o r , l i n
s ta n d in g )^
sto cc
Ratcs.— See
and
3 6 0 ,0 0 0
C o m m , a u t h o r iz e d th e Iss u a n c e o f $ 1 8 0 ,0 0 0 '
m b o n d s (I n c h in a m o u n t s r o p o r t e d o u t -
I llin o is T r a c t io n C o ., a b o v e .
s M % L i s ! o o o um m f 7 . . Da" '
D w a t u r G a s A E le c C o 2 d M f
$ 4 0 0 ,0 0 0 ($ 3 0 0 .0 0 0 r e e e r v o d {I n
fo r a b o v e ($ 1 ,0 0 0 ), g o l d t f i
D e c T r a c A E le c 1st M $ 3 0 0 .-1
,M m ‘ -
18 9 9 5 J -J
90 000 Jan 1
terest a t M e rch a n ts’ L oa n A T ru s t
C h ic a g o . T r u s te e .
1 9 0 0 5 J -J
S 2 1 2 0 0 0 Ian 1
1930
C o .?
iq o i
n ^ , n v 5 )0 L ® l ^ 0 ? ? a c h , c \ t/ r ny a t I,,ln o 1 3 T r - * S a ' ’ - B k ° ° ( ! h l c . T r u s t e e
i f
D e c R y A L t C o 1st A c o n s M I
1903 5 g J -D
7 4 3 0 0 0 D e c l log ^ r.
$ 1 .3 0 0 ,0 0 0 .g (3 1 ,0 0 0 )-C * t f/I n t .0 1 d C o L T r .C o .,B o s ..T r !,A a g e n c y in N .Y .
D e c R y A L t co n A r e f m tg e ! 1913
5%
1 4 5 4 0 0 0 M a r 1 1Q3 S
$ 7 ,5 0 0 ,0 0 0 (r e d a t 1 0 5 ) . t f / C e n t r a l T r u s t C o o f 111, T r u s t e e
1 1938
Bonds. $ 1 , ^ 2 5 . 0 0 0 D e c a t u r R a i l w a y A L i g h t C o . f i r s t a n d c o n s o l s , a r e r e 1 °%
° / S re a ?
81110,1111 o f p r l o r l i e n s a s a b o v e
A s in k in g fu n d
o f t h e n e t e a r n i n g s , o r n o t le s s t h a n 1 % o f o u t s t a n d i n g b o n d s . Is
h e ir ! inn a m k m J nr „ h f b o -p< s ’ A m o u n t o u t s t a n d i n g I n c l u d e s $ 2 0 9 , 0 0 0 b o n d s
/
h e l d In s i n k i n g f u n d .
T h e s e b o n d s a r e s u b je c t t o c a ll a t 1 0 7 4 4 a n d i n t .
a ? y I n lc r e s t d a t e u p o n 0 O d a y s ’ n o t ic e .
O f th e D e c a tu r G a s A E le c tr ic
Go
1 s t M . b o n d s . $ 1 5 , 0 0 0 m u s t b e r e d e e m e d o n M a y 15 1 9 1 0 a t 1 0 5 a n d
a „ , l l { e a m o u n t e a c h y e a r t h e r e a f t e r In n u m e r i c a l o r d e r .
T h ese bonds
D e c - u i i r ^ tr L t<V CE i l w t ( l< r^ a n d , n t 0 r c 3 t - . T b e s e c o n d m t g e . b o n d s o f t h e
D e c a tu r G a s A E le c t r ic C o . a r e r e d e e m a b le a t a n y tim e a t 105 a n d I n t .,
b u t t h e r e Is n o s i o k i n g f u n d o n t h e s o b o n d s .
O f th e D e c . R y . A L t. c o n s o l.
A ref. bonds, $1.454.000 are deposited under the Danv. Champ. A Dec. Ry.
no
su bu rbs, 60 A
o
r
v ‘ ! o r « “ o03. by t h 0 m - P O0" " ” - <• "*
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturitu
Stock— $1„,40.000 outstand’g— All owned by Western Rys A Light Co
S5 noo rnn
7$?
5 g J-D
§2,918.000 Dec 1
*5.000.000 (31.000).’ .guaf ; r - 190/ , Trust Go. of Illinois. Trustee. 1937
. tf {Central
Illinois Val 1st M, $2,000,000/ 1905
5 g M-S
1 118 000 Sent 1 1Q3 <
\
g($500A$ 1,000) .guarc tffln t. at Irving Nat. Bank? N Y City
< r T f i n - 0 ^ « m m n Pe° ' 1st M . bonds are guar., p. & t., by Western Rys
_
& Lt. Co. $1.500,000 are reserved for prior liens. They are subject to call
on any Int. day on 30 days notice at 105. Int. at Merchants’ Bank of Can
ada In N. Y. City. Illinois Valley bonds have a sinking fund of I U % por
s ™ " amount out; mtge was originally $ 2 ,0 0 0 ,0 0 0 , but on merger with
Sni-inPr 1 £ ®Pr,a the $500,000 unissued was canceled; $382,000 held In
o nB? n? S ®^0 *U
ar»” p • by VVostorn Rys. A Lt., Portland
(Mc?rLT ust^ ° Is tnistee- Are subject to call at 105
^
^ -— Operates from Princeton. 111., via Peru, La Salle. Utica, Ot
tawa. Marseilles Seneca and Morris to Joliet, about 117 m., with branches
S,P
.r'"3 Valley to Ladd and from Ottawa to Streator, 16 m.; total
?o?iUt,no m ’ o{, ad frorV Morr,s t 0 JolIet was Placed In operation In Dec
o
1911, 108 cars; 3 locomotives.— V. 97, p. 520, 594; V. 107, p. 603.
(7) Consumers Water & Light Co.
• * c -— IucorP- !n I' ,in o i9 >n 1913 to succeed the Mar
seilles Water A Light Co. (successor in 1910 to the Consol. Wat. A Lt. Co.)
Stock<)('^ A ^ D BONDS—
Date.
Interest. Outstanding. Maturity.
First A 'ref "m $500'6551II111 1913
6 j'-D - '
$575 000 D o o 'i'i'c m
Consol W A Lt bonds (n tf)...............
6%
30.000 Dec 1925
n l vPi*mtU a
% S pa.1 n & Decatur Ry. & Light Co.
*
O R G A N IZA T IO N — Incorp. In Maine May I t 1913. Is a holding
company, and controls substantially all the electric. gM, street railway
and public heating systems In Danville, Decatur. Champaign and Urbana
franchisesc o v e r i n g e l e c t r i c and heating, with few exceptions, extern!
yi^viu bo?°V d *9 . Vn ®treet railway franchises expire at various dates
before 1938. the laws of 111. not permitting long-time street ry. franchises.
M 6 6 ] - i 9 i 3 - - ? M
E l e c t r i c C o . a n d t h e D e c a t u r S t e a m H e a t i n g C o . , o w n i n g a ll t h e s t r e o t r a i l
e d s u b u r b s 1 e I e c t r l c ~1 ,fth t i n g b u s i n e s s a n d s t e a m h e a t i n g p l a n t In D e c a t u r
£ k .’
3 1 .2 2 5 .0 0 0 a r e r e s e r v e d
b o n u s a n d $ 4 . 8 2 1 .0 0 0 t o r n e w c o n s t r u c t i o n .
( 6 ) C hicago Ottawa & Peoria Railway Co.
ORGANIZATION .— Bought outright In 1909 the Illinois Valley Ry
IM S *"
W 'IU
I- various town,
Stf7kO $3K700N000B($ r 0 0 )? 7 ...^ a/<!-
[V ol . 107.
to
r e tir e
u n d e r ly in g
^ b o u .^ 15 ™ l l e s s t a n d a r d - g a u g e r o a d in D e c a t u r a n d
7 2 -lb . T r a ils .
3 5 m o t o r c a rs A 4 o t h e r s .— V . 1 0 6 , p . 8 5 .
(c ) U r b a n a A C h a m p a ig n R a ilw a y , Q a s & E le c tr ic C o .
k
A
I’ m,
v illP C h a m p a ig n A D e c a t u r R y A L ig h t C o .
p i t G A N l Z A 1 I O N . — A c o n s o l i d a t i o n In 1 8 9 7 o f U r b a n a A C h a m p a i g n
t.r ^ s SP r .eH^ C h a m p a i g n E l e c t r i c L i g h t A P o w e r . C h a m p a i g n A U r b a n a
t
G a s L ig h t A C o k e a n d W e s t E n d P a r k c o m p a n ie s .
O w n s p erp etu a l ga s
Ss ? a u i Cw ? « £ e r ’
T b e u n d e r l y i n g r a i l r o a d c h a r t e r Is a l s o p e r p e t u a l .
F r a n c h i s e in 1 9 0 1 e x t e n d e d f o r 2 0 y e a r s .
^
Rales.— S e e I l l i n o i s T r a c t i o n C o . a b o v e .
m
S to ck
c‘ nm!* BONDS—
Date.
Interest.
$ 8 3 6 . 0 0 0 _______________________
Outstanding.
$836 000
Maturity.
O 7 i 8 ° ! v , A 10“
.
a x fV w ? ’ r
U r V l J 4 y . (/
ref d ebs $ 4
^ K 0’ 3 5 0 0 .0 0 0 / 1 8 9 9
8 ’* W
' 3 5 4 .0 0 0 J u l y ' I ' 1 9 2 9
t ' i .............C - H t i p n t . a t P o r t l a n d T r . C o . , P o r t l a n d . M e . , T r i i s
i ! ! n5,?1 s i ) l a “ d / 1 9 1 3
n
5 M -S
1 .6 /4 .0 0 0 M a r 1 193 8
,0 0 0 ,0 0 0 -. — t f I
C e n tr a l T r u s t C o .. C h ic a g o , T r u s te e .
Bowls .— Ot t h e c o n s o l , m t g e . b o n d s , s u f f i c i e n t a r e r e s e r v e d t o r e t i r e f i r s t
£ ° ,9 d ? ;
p b e b m id s a r e s u b je c t t o c a ll o n a n y In te r e s t d a y a t 1 0 5
ortb ® U. A O . R y
G . A L c o n s o l, a n d r e f. d e b s .. $ 1 ,0 7 4 ,0 0 0 a r e d e p o s it e d
“ n d ®J D - O . A D
R y . A L t c o n s o l . A r e f. M . , $ 3 5 4 ,0 0 0 a r e r e s e r v e d
t0
f r \ ° ^ b/9 r b o n d s *n < l ■ 2 , 5 7 2 , 0 0 0 f o r a d d i t i o n s a n d I m p r o v e m e n t s ,
$
ir “ D A L ).
O p e r a t e s 1 2 . 6 0 r n il o s o f t r a c k In a n d b e t w e e n C h a m p a i g u a n d
U rban a.
H a s 3 2 m o t o r ca rs a n d 5 o t h e r s .— V . 1 0 5 . p . 2 5 4 4 .
(d) Urbana Light. Heat & Power Co.
C o n t r o ls th e e le c t r ic lig h t in g a n d s t e a m -h e a t in g
E n t i r e s t o c k Is o w n e d b y I l l i n o i s T r a c t i o n C o .
Rates.— S e e I l l i n o i s T r a c t i o n C o . a b o v e .
Date.
’M - N "
5 J -D
° J\}J
or
U rban a.
Interest.
1903
1909
i»v »
b u s in e s s
Outstanding.
Maturitg.
$185,000
9 000
See text.
90.000
.
wu.uuu
See text.
($1,000) . . . . .
tf (Central Tr. Co. of ill.. Trustee. Int. in Chic.
Consolidated and refunding! 1913
5%
10.000 Mar 1 1938
mortgage .......................tf/Central Trust Co. of Illinois. Trustee.
Bonds.— Flrat mortgage bonds mature $2 , 0 0 0 to $1,500 annually on
M ay 1 until M ay 1 1920. $47,000 retired up to Sept. I 1918. Of second
mtge. $13,500 are reserved for prior bonds and $94,500 are for now con
struction
Bonds mature on Mar. 1 yearly from 1918 to 1927. They
mm 9 ° Tr9c £*o n p P ’ V . 89. p. 167. The entire outstanding
amt. (510.000) of consol. A reG bonds are deposited under Danv. Cham. A
Doc. Ry. A Lt. mortgage.
O F F IC E R S — Pres. JV. B. McKinley; Sec.. E. A. MacNutt; Troas.
Geo. M. Mattis; Gen. Mgr., H. E. Chubbuek.— V. 105, p. 2462.
(9) Danville & Eastern Illinois Ry.
oute^midIng“,5due°i927eraPOrary bon<li to the amount of 350.000 (5% ) are
( 1 0 ) Danville & Southeastern Ry. Co.
ORGANIZATION.— Incorporated in Illinois on Jan. 14 1909
STOCK AND BONDS—
Date
Interest.
Outstandino. Maturitg
Stock
------. . . . . . . . . -.-.--All owned by Illinois Traction Co.
P,^ t.7 ? 1nt1
ga!?e$lOO’OOO? oId; l , 1 0 0 9 5 g J-J
$60,000 July l 1929
9 V.7 i " I V “ Cn . lift1* a^ Central Trust Co.. Chicago, trustee.
k
Bonds, SuWcct t° call at 105 and Int. on any Int. date. Guaranteed,
p. &
by Illinois Traction Co.
ROAD.— Operates 2.82 miles of road from Danville City limits to Grape
Creek coal district. 70-lb. rails.
OFFICERS.— Same as those for Illinois Central Traction Co.
( 1 1 ) Danville Urbana & Cham paign Ry.
i . u L * UN. — Incorporated In Illinois under the railroad law on
i h f l90“
ciftnt for way. ’ 0vvns the Danville Paxton A Northern Ry. Mostly private
the Illinois P. U. Comm, authorized the company to
issue $550,000 preferred stock.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
Common stock $250.000...................
$250,000 ...................
Preferred stoek$550,000____
_
550.000 ...................
“ M S S ? 32,000.000/1903 5 g M -S _
z.uuu.uuu Mch. 1 v ^
2,000.000 m c q . u 1923
gold $ 1 ,0 0 0 ) guaranteed] Interest at Agency of Bank of Montreal N Y
„ c V -------------------------------l Northern Trust C o.. Chicago Trustee
Second mortgage $500,000/ 1905 6 g J-J
92 000 See text
„ *°Jd (*1.0(W) serial-, c* m in t , at Agoney Merchants' ilk. of Can., N.Y.
General mortgage bonds._tf 1910
6%
700 000 Nov 1930
B",!<l*.—3 he first 5s have no sink, fd., but are subj. to call on any Int. date
i’P0" 9^. daK„ n2 ticf ^ *95 A int. The bonds are guar., p. A I., by end. by
a
.r 97R y- * Et. Co. and Urbana A Champaign Ry Gas A Elec On
7 81: PhnrnSrBr1 b 0'r2h « \ 7 ^ r i *50.000 on Jan. 1 lOOSan.l $50.000each
d
Q
;SnA ^ thereafter. The $50,000 due on Jan. I 1908 and S50 000 due Ian 1
ffin r in T
as $42,000 of the $50,000 due Jan. I 1911. wore extended^,
$408,000 have been retired. Thoy are subject to call at par on 30 days
STO CK A N D BO N D S—
S t o c k $ 1 8 5 . 0 0 0 ____________________
F ir s t m t g e $ 5 6 ,0 0 0 ( $ 5 0 0 ) . c t f
S e 7»T'nnn‘r o ‘ t g a g e
con d
m ' r " " " !” $ 2 0 0 , 0 0 0 /
«*vu.uwi
.
s
“ •Trao- ° ° - Tr“ *fc“ " r“
»• *
KOAD. Operates 76.16 miles of track over private rtgnt or way, connectlng the cities of Danville. Urbana and Champaign, with branches from
Danville to Georgetown and Ridge Farm; Danville to Catllu and Ogden
to Homer. <0 -U>- rails. Has 20 pass, cars, 23 exprass cars, 175 freight
caJ!s. 1 1 locomotives and 7 miscellaneous cars.
— P st;,\ w - B - McKinley; Sec., E. A. MacNutt; Troas..
,lre'
eo. M . Mattis.— V. 83. p. 435; V. 84, p. 338; V. 8 8 . p. 563; V. 106, p. 85 .
( 1 2 ) Dos Moines & Central Iowa Electric C o.— A holding company.
ri.P BDAN1 TIO N .---Controls the Iowa subsidiary properties or the
ZA
Illinois Traction (>0 ., wrhlch include the eloetrlc-llscht and power companies
serving Des Moines. Oskaloosa. Colfax. New Valloy Junction. Now Sharon
Prairie City and Montezuma and the street railways In Oskaloosa. Con
trols the Des Moines Electric Co. and the Oskaloosa Traction & Light Co.
J b®.hog*}® ° ^ thI® c?- are secured by pledge of $514,000 gen. mtge. 0%
bonds tf? the Des Moines Elec. Co. (total out) and all the common and prof,
stock of the same co. Also $160,000 gen. mtge. bonds and all the stock of
tho Oskaloosa Traction A Light Co. and bonds of various other cos. in an
aggregate amount of $249,000.
STOCK AND BONDS!—
Dufe.
Interest. Outstanding. Maturitg.
Com stk, $13)00,000 ($100)-.A1I owned or controlled by IllinoLs Trac. Co.
Pref stock, $150,000---------- do
do
do
do
8 k fd gold bonds, $ 1 0 ,0 0 0 ,0 0 0
1913
0 g M-S
$1,555,500 Sept 1 1937
($500 A $1,000) red at 105 luterost at First National Bank. Now York,
A Int guar p A I and s f by
or the Central Trust Co. ofllllnols.Tru.steo.
end by Illinois Trac Co..c*
ELECTRIC RAILWAYS
S bpt .. 1918.!
S T O O K A N D B O N D S —•
Date.
Interest. Outstanding. Maturity.
D® M oinesBloc' lit M «5 .-f 1908 A M-N
$2,816,000 Nov 1 1938
nnn ooo ($1,000) s t ___ tf 1Interest at American Trust Oo.. Boston.
Osk T’ * Lt Co bds $300,0001 1903 fi g J-J
224,000 Jan 1 1923
($ 1 ,000) gold sink fund. c*l Int. at U. S. Mtge. & Trust C o.. N. Y..Trus.
Bonds — Additional sinking fund gold bonds can only be Issued for 80%
of tho cost of Improvements, &c., to the sub cos., and certain other restric
ting,], Annual linking fund of 1)4% of bonds^ out began Sept. 1914.
1931-37. Oskaloosa Trac. & Light
be delivered to trustee annually. V. 98, p. 839. 1530.
Earnings.— O f s u b . c o s . o f t h e D e s M . S C . I . K . C o .
c
D ec
31
1917.
gross,
S I , 1 7 1 .5 1 5 ;
n et,
$ 4 8 8 ,6 7 0 :
in t ..
f o r 12 m o s . e n d ,
$ 1 6 0 ,1 9 7 ; s u r p lu s .
$ 3 2 8 ,4 7 3 .
(13) Galesburg Railway. L ighting & Power Co.
_ ,
ORGANIZATION.— Incorp.in 111. Sept. 10 1913 and took over the Gales
burg Ity. A Lt. Co., the Galesburg Gas & Elec. Lt. Co., the Knoxville
Elec. Lt. & Pow. Co. and the Abingdon Lt. & Pow. Co.
Rates.— S e o I l l i n o i s T r a c t i o n C o . a b o v e .
In May 1917 auth. capital stock was increased from $3,500,000 to
$4,000,000.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock. $4,000,000 ($100)......... - ............................. $3,500,000
Consol ref mtge. $5,000.0001 1916
5 g J-D
810,000 Oct 11934
($1,000) red at 105-.c*&rJInt. at Merchants’ Bank of Canada, N. Y
Galesb By & Lt 1st cons_________
_________
781,000 ---------------Galesb O S El Lt 1st M . .........................................
c
350.000 - - - - - - - - Bonds.— Sufficient consol, ref. mtge. bonds are reserved for prior liens
and remainder for additions, &o. Bonds are guar., p. S 1., by Western
c
Rys. S Light Co. Tho Old Colony Trust C o., Boston, Is trustee.—
c
V. 104, p. 2117.
(14) Illinois Central T ra ction C o.— A trolley road.
ORGANIZATION.— Incorporated In Illinois in 1903 under general
railroad laws. Mostly private right o f way.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
$1,100,000 ...................
Stock $1,100,000 ............................................ ..
1st mtge. $2,000,000 ($1.-1 1903 5 g J-D
1.469.000 Doc 11933
000) gold, guar______c * tffln t. at Old Colony Tr. C o., Boston, trustee.
Temporary general rnort
t f ____ 5 & 6
746,000 1929 S 1931
c
Bonds.— Are subject to call on any Interest date on 60 days’ notice at
1 0 7 and Int. Are guaranteed, p. & I., by Illinois Traction Oo. V. 82.
p. 804. A sinking fund of 10% of not earnings became operative Dec. 1
1908. but not to be less than 1% of bonds outstanding. $195,000 held In s.fd
HOAD.—Operates 45.5 miles of track from Decatur to Springfield, with
an extension from Buffalo to Meehanicsburg, 70-lb. rails. Has 12 pass,
cars. 6 express cars, 171 freight cars, 4 electric locomotives and 2 mise. cars.
OFFICERS.— Pres., W. B. McKinley; See., E. A. MacNutt; Treas.
Geo. M . Matt.ls; Gen. M gr., M . E. Chubbuck. V. 82, p. 804: V. 84. p. 339
(15) Jacksonville Railway & Light Co.
„„„
, ,
ORGANIZATION.— Incorporated in Maine In Dec. 1905 and Is a con
solidation of tho Jacksonville Ry. Co. and the Jacksonville Gas Light &
Coke Co. Franchise perpetual.
Rates.— Seo IllinoLs Traction Co. abovo.
Outstanding. Maturity
STOCK AND BONDS— Date.
Interest
$ 1 0 0 ,0 0 0 ...................
Stock, $500,000 ($100).........- ................... ..
573.000
Jack Ry&Lt 1st -cons M“,$ l,-f 1906
5 g J-J
a • ----Central Trust C o., Chicago, Trustee
OOO.OOO.gu.g ($1,000)C*
______ ____
5 J-J
126,000 Jan 1 1931
J a c k s o n v G a s Light & Ookef_-----Co first mortgage_____ntf\ Int. at Merchants’ Loan & Tr. C o.. Chicago.
st^ageBonds.— Or the $1,000,000 1st consols, $126,000 are reserved for prior
liens. Are guar., p. S 1.. by Illinois Trac. Co. 2% of bonds out Is payable
c
annually to a sinking fund. Are sub. to call on any Int. date at 105. Int. at
Merchants’ Bank o f Canada, N . Y. $74,000 Jack. Gas L. S O. retired
c
R OAD.—Operates about 7.65 miles o f track and also does electric lighting
and gas business In Jacksonville. 14 motor cars and 9 others.— V. 95, p.
1542; V. 97. p. 1733. V. 99. 1748.
(1 6 ) Jefferson City Light. Heat & Power Co
OR GANIZ N. &C.— Owns majority o f stock o f Jefferson City Bridge S
c
Transit Co. V .9 7 ,p . 1666. Supplies gas and electricity to Jefferson City.
M o. and furnishes current for operation o f the street railway. In Nov.
1915 made a 9-year contract with city for street lighting. lias $200,000
common stock, $120,000 pref. stock, $200,000 1st M . 5% bonds (cpt) due
M ay 1925 and $189,000 1st S ref. bonds outstanding.
c
(17) Wadlson C oun ty Light & Power Co.
Is a consolidation In 1906 of the Edwardsville Light & Power Co. and fhe
Granite City-Venice Electric Co. Supplies light and power to Edwardsvillo. Granite City, Carlinvillo, Madison, Venice, Woodriver, Worden,
East Alton and several smaller towns; also electric current to Livingston
and Williamson, and furnishes g;is to Carlinvillo. Two of tho principal
franchises are perpotual; none expires oarlier than 1956, except tho easement
under which the co. operates in Granite City, which expires In 1925. In
Dec 1912 increased its stock from $100,000 to $335,000. Common stock Is
all owned or controlled by Illinois Traction Co.
Rates.— See Illinois Traction Co. abovo.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Common stock, $335,000--------------------------$335,000 ---------------Preferred stock_____________ _____
________ _
38,000 ---------------1st mtge $1,000,000 ($1,000)1 1906
5 g J-D
636.000 Dec 11936
_____________ c* tf {Int. at agey. Merchants’ Bk. of Canada. N.Y
\ Central Tr. Co. of Illinois, Chic., Trustee.
Bonds.— Remaining bonds aro for exts. and add’ ns. Sink, fund of 1 4 %
of bonds previously certified began Oct. 1 1916; bonds retired to be canceled.
Guar. p. S i. (end.) by Illinois Traction Co. Can be called on four weeks’
c
notice on anv Int. dav at 105.
Earns. Cat. Yr. 1017.
1916.
1915.
1914. 1913.
1912.
Gross earnings..$258,646 $219,191 $179,321 $154,234 $137,859 $114,741
Not after taxes. $96,429, $85,599 $68,496 $64,173 $57,610 $49,788
Bond int., &e - 29,800
27,200
26.550
27,790 ------ Not stated-----Property — Reserve electric power plants In Edwardsvlllo and Oarltnvlllo
a gas plant and gas-distributing system in the latter city; high-tension
transmission lines, sub-stations, &c. Tho company purchases, under a
itod
contract extending until 1947, electricity generate in tho power station
at Venice, controlled by the Illinois rraction Co.
(18) Northern Illinois Light & T ra ction C o.— A trolley road.
ORGANIZATION. — Incorporated In Illinois and was successor In July
1903 to the Ottawa Ry.. Light S Power Go., sol under foreclosure.
c
Fran
chise perpetual for lighting and until 1930 for railway. Has contract for
city lighting. Western Rys. S Light Oo owns all the stock.
c
In Sept. 1913 Increased stock from $250,000 to $750,000. V. 97, p.729.
Rates.— See Illinois Traction Co. above.
Maturiy
STOCK AND BOND'S— Date.
Interest. Outstanding.
$398,000 ....... ...........
Com. stock, $750,000 ($100).................................
Preferred stock_____________ _____
________
2 1 0 ,0 0 0
........
*668,000 July 1 1923
First mtge. $1,200,000, gold/ 1903
5 g J-J
___
.
($500 and $1,000). .e* tf lin t, at American Tr. C o., Boston, Trustee
General M ($1.000.000).....................
6%
t
84,000
1938
•All but $265,000 of theso bonds are guar., p. S L, by endorsement, by
c
Western Rys. & Light Oo.
Bonds. —No sinking fund and bonds cannot be called. Remaining bonds
aro for 80% of cost of additions, extensions and new properties, under con
servative restrictions.
Earnings.— For year ending Dec. 31 1917, gross, $213,821; net, after
taxos, $72,474. In 1910, gross. $331,221; net, after taxes, $119,375.
ROAD AN D PLAN I'. —Operates 0.5 miles of Hue. cuvenug tue principal
atreots of Ottawa, and runs out of tho city to Ellis Park, a pleasure
resort on the Illinois River. Also has extensions from Ottawa to Ohautau
qua Park. Equipment, 8 motor and 3 other cars. Also does entire elec
tric light and power business In Ottawa and wholesales power to local
utility companies In La Salle, Utica, Seneca Morris, and to tho Chicago
Ottawa <r Peoria Rv
S
At Marseilles owns a hydro-electric plant, with steam
auxiliary, having a capacity of 8,000 h. p., and at La Sallo has a 4,000 k. w.
turbino generator with auxiliaries.— V. 97. p. 729.
(19) Peoria Railway Co.— A trolley-road
ORGAN IZATION .— Incorporated under general railroad laws o f Illinois
In 1900 and is successor to tho Central Railway Co. Has acquired, owns
and controls all street railway lines In Peoria and outlying suburbs of Averyvltle Peoria Heights and East Peoria. Tho entire stock Is controlled by
the Illinois Traction Co. Franchises In Peoria expire In 1926 and those In
adjolulng districts In 1924.
33
Favorable Decision.— On Oct. 20 1911 the Illinois State Supreme Court,
reversing the Circuit Court, held that the City Councils could not grant a
franchise to the Peoria Ry. Term. Co. over streets to which the Peoria R y.
already held a franchise. V. 93. p. 1535.
Rates.— See Illinois Traction Co. above.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Com. stock, $1.010,000------- -----------------Sl-QJ.9'999
Preferred s t o c k - - - - - - - - - - - - - . . . .
------505,000
Klret & ref mtge. $3,600,000,1 1906
5 g F-A
2,559 000 See text.
gold ($1,000)________ c* tf \Interest payable In New York.
1926
5%
908.000
General mortgage-------------- tf 190
Bonds.—Of the $3,600,000 first and ref. bonds, $291,000 are reserved
for additions and Improvements at 75% of cost; $655,000 have been retired.
They are guaranteed, p. & L, by endorsement by the Illinois Traction Go.
Tho bonds are secured by a first mortgage upon all properties and fran
chises of the Peoria Railway Co. now owned or hereafter acquired, the
trustee Is the Illinois Trust & Savings Bank, Chicago, 111. Remain
ing bonds mature on Feb. 1 as follows: $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 $750,000 in 1926. They are
subject to call on any int. date at 105 and Int. See V. 83. p. 38, 436;
V. 89. p. 42; V. 90. p. 560.
,„ „
ROAD.— Owns and operates 54 miles of standard-gauge tracx, 122 motor
cars 23 other cars. Also owns valuable property near the centre of city and
considerable other real estate, including several amusement parks, estimated
to be worth $500.000.— V. 100. p. 643, 902, 1079; V . 101, p. 213.
(20) Quincy Railway Co.
ORGANIZATION.— Incorp. In Illinois In 1912 as successor to the Quincy
Horse Ry. & Carrying Co. V. 94. p. 1628.
_ . , . - „
Does entire (electric) street railway business In Quincy. Principal fran
chise Is unlimited, granted in 1865, and exclusively for 50 years. Other
franchises mature from 1922 to 1937.
Rates.— See Illinois Traction C o., above.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
$ 1 ,0 0 0 ,0 0 0 ---------------Stock, $1,000,000................. - - - - - ....... — - - - -
599.000 Feb. 1 1932
Bonds. $1,500,000............... tf 1912
5%
400.000 Oct 1 1918
Quincy Horse Ry. & O. CoJ 1898
5%
($550.000)_______________1Portland Trust C o., Trustee. ___
ROAD.— Operates 22.85 miles of track: 51 cars.— V. 94. p. 1628.
(21) St. Louis Electric Bridge Co.
ORGANIZATION.— Incorporated In Jan. 1907. Owns a bridge from
Salisbury Street. St. Louis, to Venice, III. In April 1909 company In
creased capital stock from $2,500 to $1,000,000.. V. 88. p. 946. Stock all
owned by Illinois Traction. For franchise provisions, see V. 85 .p . 100.
Construction was started In Oct. 1907 and bridge was forma,ly opened
on Nov. 10 1910. V. 8 5 . p. 1 0 0 : V. 88, p. 946; V. 91. p. 1328
First mtge. gold (5 % ),auth..$3,500,000 ($ 1 ,000)tf;outstanding.$2.59-.
000; date 1913; due Dec. 1 1929. B. Bentley Hamilton Peoria, trustee
This mtge. replaced tho old (temporary) mtge. of 1909. V. 98. p. 74.
(22) St. Louis Electric Terminal Railway Co.
Owns extensive freight and passenger terminal stations costing about
$5 000.000; also valuable real estate and a 50-year franchise giving the Illi
nois Traction an outlet In St. Louis. Also owns and operates cltv cars over
about 18 miles of street railway In Madison. Granite City and Venice.
Fare Increase.— See under Illinois Traction Co.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Common, $ l‘.000.000............... All owned by Illinois Traction Co.
_______
$1,000.000 ---------------Ppftforrfvl Jan 1 1931
- ___
Finst mtge, $3,600 ,000gold 1 1909 4-5 F-A
1.7241.000> Dec 1 1929
($1 000). guar p & 1___ tf (Int. at Merchants Bk. of Canada. Montreal.
Bonds — First M . (temp.) bonds are subject to call at par on anv interest
day. No sinking fund. They are guar., p. & 1., by Illinois Traction Go.
(23) St. Louis Springfield & Peoria RR.
ORGANIZATION.— Incorporated in Illinois Dec. 1 1909 as a consolida
tion of the St. Louis S Sprlugfleld Ry.. the St. Louis S Staunton Ry.. the
c
c
Tri-City Trac. Co. and the 3t. Louis S Northeastern Ry. Operates on
c
private right of way except through cities and towns (about 17 miles), where
franchises extend to or beyond 1953. In 1911 acquired the Springfield
llein 1912acquired the Peoria Lincoln S Springf. Ry. C o., the Peoria Bloom.
c
S Champaign Trac. C o., the Terminal Pow. Co. and the Springfield S
c
c
Northeastern Traction Co. (acquired Nov. 1 1913).
,
. _ IO
„
Has long-time contracts for use of bridge and terminals of St. Louis Elec
tric Bridge Co. and St. Louis Electric Terminal R y.. enabling it to operate
directly Into St. Louis
.....
. . , .
..
...
In March 1916 Issued $1,000,000 Ser. “ A ” 5% pref. stock to retire a like
amount of Gen. Mtge. bonds.
Fare Increase.— See Illinois Traction Co. above.
STOCK AND BONDS—
Date. Interset.
Outstanding. Maturity
Common $6,000,000 ($100).................................
$8,000,000 ...................
S f t W ig 0
.
i
s
™
i j -'d —
M & * 8 i5 * T t« 5
($1 000 coup S $1,000 or{ Illinois Trust & Sav Bk. Chicago, trustee
c
multiples reg.) - -C**r* tf Interest In New York, Chicago or Loudon.
S tT o u ls * Springfield 1st M 1903 5 g J-D
261.500 Dec 1 1933
($1 000) 8 f gold guar c * .t f I Interest at City Trust C o.. Boston, trustee.
StL Sp&P gen M $15.000,000tf - - - 5%
n o ift
Springfield & Northeastern 1906
5 g J-D
145.000 Dec 1 1936
Traction 1st mtge $1,500,- Int. at agency Merch. Bank of Can., N . Y .
ooo
000) eold ___ c*
Central Trust Go. of Illinois, Trustee.
Peoria Bloomington * Chamf 1906 5 g M-N
280,000 Nov 1 1936
Trac 1st M $3,000,000 gold{ Int. at agency Merch. Bk. of Oandaa. N .Y .
($1 000)
- - _c* tf l Central Trust C o.. Chicago. Trustee
Bonds.—Of the $T 955.000 1st & ref. bonds reserved for various purposes.
$145 000 are reserved for Springfield * Northeastern Traction Co. bonds.
$561 000 to retire prior lions. $2 ,7 6 5 ,0 0 0 to redeem a like amount of general
mortgage bonds and $6,481,000 for 80% of cash cost of additions and ex
tensions. The $6.481.000 and the $2 765,000 for redemption of gen. mtge.
bonds (total $9,246,000). excepting .$500,000 (issuable at any time for 80%
of cost of add’ ns * tmpts.) can be Issued only when, for the preceding 12
months , gross earnings have equaled five times and net earnings 1H times
the interest charge on all bonds outstanding and those proposed to be issued.
Redeemable at 105 on any Int. date. Bonds are unconditionally guar.,
p. & 1., by Illinois Trac. Co. V. 90. p. 304; V. 95. p. 177. Are listed on
Chic Stock Exch. St. Louis S Springfield 1st M . bonds are subj. to call
c
on any Int. date on 60 days' notice at 10714 S Int. Are guar p. S 1., by
c
c
111. Trac. Co.; $190,000 (not incl. in outstanding amount) held in s. f.
Peoria Bloom & Cham. Tr. 1st M. bonds are guar p A t . oy III. Trac.
Co They are subject to call on any Interest date at 105 on 30 days notice.
ROAD.— Extends from Venice, opposite St. Louis, to Peoria and Bloom
ington . with branches from Staunton to Hillsboro. Trackage 210.49 miles;
main track, 10.10 miles belt line, 0.29 miles second track, 23-06 miles of sidInda and turnouts and 7.59 miles of Industrial tracks; total, 2o1.53 miles.
Standard gauge. Owns 64 passenger cars, 56 express cars, 488 freight cars
9 locomotives, 13 miscellaneous cars. V. 102, p. 68; V. 103, p. 1302.
(24) Topeka Railway & Light Co.
ORGA N IZA TIO N .— Incorp. In Maine and owns the Topeka Ry. Co.
(see below) and the Topeka Edison Co. (V. 32. p. 730). These own and
operate without competition the street railway, commercial elwtric light
and power and steam-heating properties in Topeka and Oakland, Kansas,
Population served (1915 State Census), about 50,000. Franchises, with
one minor exception, oxtend beyond Feb. 1 1933.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Common stock-------------------- --------------------- $1
*9 ---------------Profpirpd stock
_ _ ___ . . . .
.........
O o 4 U — ——— —
- ————
1st lion & ref M‘ $77500.000 gl 1916 5 g F-A
1,293.999 Feb. 1 1933
($109. $599. $ 1 .0 0 0 .Ac)c*Ar* (Lit. In N. Y ., New York Trust C o., Trustee
Topeka Edison Co mortgage 1995
5 J-J
8 5 1 .9 0 0 Sept. 1 1930
81 250.900 ____________ tf [Int. at Cont.AComm .Tr.AS.B.. Chlc., Trus.
Topeka Ry mtge (see that c o ). 1904
5 g J-J
1.100 000 Jan 1 1930
Bonds.—Tho 1st Hen and ref. bonds aro secured by pledge or the entire
capital stocks and. excepting $1,889,000 underlying Issues, all the bonds
of the subsidiary cos. $2 080.000 are reserved to acquire or retire under
lying bonds, and remaining $4,119.0 i0 may be Issued to the extent or 80%
of cost of additions and Impts. to the properties of the sub. cos., but only
when annual net oarnings are 1H times the annual Int. charges. Incl. the
bonds proposed and all underlying bonds held by public. They are guar..
d & 1.7 by the 111. Traction Co. and are red., all or part, on any int date
at 105 and int. Sinking fund began Aug. 1 1917 of 114% per ann. to
and Incl. 1929 and 1% thereafter of the total amount of bonds outstanding
(Incl. underlying bonds), less amounts paid on account of sink. fund, re-
24
ELECTRIC RAILWAYS
qulroments of underlying mtges. (It Is estimated 32% of the $3,250,000
S ta? dL b ?S& wi!i t h ,u s , b o retired Fob. 1 1933.) $18,000 in sinking
ng,
fund Aug. I 1918. Bonds in fund are hold alive. The Topoka Edison
Go. bonds have a sink, fund of $15,000 per ann.. payable Dec. 15 $135,000
havo been retired. Beginning with the 2-year period ending May 31 1918,
and during each 2 -year period thereafter, there must bo set aside for
maintenance and depreciation an amount averaging 1 2 % o f tho combined
annual gross earnings of the subsidiary cos. V. 104, p. 74
.Y?ar 2^J.ng. P eci :u UJ17, Kross, $894,862; net, after
taxes, $328,7i~. int., $160,916. in 1916, gross, $803,196; net, after
maintenance and taxes, $332,493.
’
PROPERTIES.—39 miles of electric streot railway, largely 70 to 79- b.
J rails; ol double and single-truck motor cars, 28 trailers; power plant, generai o
ty ■5 ’ 8 9 3 h -P-i 255 miles of power and light-distributing lints
and 8,300 meters; exhaust steam system for hoating purposes: miscellaneous
real estate.— V. 104. p. 7 4 .
^ o /? ? T e,^a. £ . a y .? a v . C o-— 'Controlled by Topeka By. A Light Co.
, 0 ^ ' ANIMATION.— Incorp. under general railway law* of Kansas in
i ? o i J H A 903,? bs? rbed tke Vinewood Park B y., and made a »ew mtg*. for
. On June 4 1903 obtained a new 30-year franchise, running from
that date, with the provision that $400,000 bo expended within 3 years on
one system. Also has secured franchises In perpetuity oa county roads now
occupied, with privilege o f hauling freight. City agreos never to reduce
rates to where company will earn less than 10% on stock. The city Is to
receive 10% of earnings remaining arter 10% lias boen earned. Upon ex
piration of franchise city has the right to acquiro the property, but not
before. V . 76, p. 8 6 6 , 1302. On Juno 26 1916 authorized capital stock
was increased from *1.250.000 to $2,250,000. V. 103. p. 62.
. } n De,c< 1 9 1 7 ,tho Kansas P. U. Comm, granted auth. to issue $81,001
.
1 st & ref. mtge. bonds for the purpose of paying off outstanding obligations
and for extensions and betterments. Up to Sept. 1 1918 thoso had not
been issued.
hires. In Sopt. 1918 applied to tho Kansas P. U. Comm, for autli
te chargo a 6 -cent faro in Topoka and Oakland.— V. 107. p> 1005.
STOCK AND BUM Da—
Date.
Interest. Outstanding
Maturity
Stock, $2,250,000 ($100)..............._......................
$1,250,600 f.p.
*??,&?• 5 1'25°.000. gold( iOOt 5 g J-J
1.100.080 Jan "l 1930
wii?*1*? «1# - - .-,-- -c - - - - c * tf 1Int. at Cont.A Onmm.Tr.4 S.B.,Ch!c..Trus.
First & Refunding bonds----- i 1916
5%
See text. Fob 1 1933
„ ___,
_
, ,
.
(N ew Y ork Trust C o ., Trustee.
Bonds.—
-Remaining bonds are reserved for 80% of cost ef «ew powor“ ouse and for betterments and additions. Subjoct to call at 105 and int.
$150,000 have been retired. A sinking fund began Jaa. 1 1910. which Is
8#
t 0Jretlr9 *15.000 per annum at 105 and interest. $120,000 bonds
or 1916 are deposited as collateral with tho Topeka Kv. A Lt. Co.
LABlSriNGS.— For year end. Doc. 31 1917, gross,‘.$457,781; not, $164,21U
*61.750; surplus. $102,461. In 1916, gross, $422,395; not, $158,
669; interest, $56,683; surplus, *101,986.
~ 9 A D .—
Topeka It ill way A Light Co. above.
OFFICERS.—Pres , W. B McKinley, Champaign, Hi.; V.-P. A Treas..
M . Mattis Champaign; Sec., E. A. MacNutt, Montreal.— V. 82, p.
19t i t n ‘ u n ’ < ,’*9 i &’ ?.78: V 4c L igh 62: I ' 101- P- 74; V. 107, p. 1005.
P
V 03', p - t.— Trolley.
(25) W ichita Railroad L
ORGAN IZATION .— Chartered May 1 igoo Tor 30 year*. ‘ Street rail
way franchise expires 1933. lighting in 1919. In 1910 entered into a 20-y*ar
contract for purchase of power from Kansas Gas A Elec. Co.
STOCK AND BONDS— Dale.
Interest. Outstanding
Maturity
Com stock, $1,500,000 ($100).....................................
$300 000
Prof, stock ($ 1 0 0 ) .........................—
.............
300,000
*300.0001 1900
5 g A -O
309.900
Oct 19lo'
(#1*000)* Kold---------c _ . tf lin t, at Portland Tr. Oo., Portl’d. M o.. Trus
ReH^rf0 nS'tM v f 1 ,K 000,g tf i ? 0 7
t
00^
5 g A-O
1,193,009 Oct 1 1933
notice.
!c( )AI1 Owns b2nds. a subject to call. at 105 on 6 month* 1• . ..
lcv iO miles
1*re
~ in* Wichita," Kan!’ Including
I
KOAD.— 1 ria 32 m1 x o f trolley track “I.. nri_i.ii. . rr
double-track bridge over th e____________
Arkansas Blvor and extensions to Wonderland
Park and Fair Grounds; 90 cars.— V. 93. p. 941. 1192
[V ol . 107.
CHARLESTON, WEST VIRGINIA.
CHARLESTON INTERURBAN RR.
ORGANIZATION.— Incorp. In 1909 with $100,000 capital stock which
was Increased on Nov. 10 1914 to $1,500,000 In part Tor the purchase of
the Charleston Traction Co., a line from St. Albans to South Charleston,
taken over as of that date, and in part as a stock dividend, ail earnings for
four yoars having gone into extensions and betterments.
Lease.— Lenses the Kanawha Valley Traction Co. 'whoso $500,000 capital
stock Is owned by tho Ohio Valley Electric Ry.) for 99 years from Jan. 1
1910 at an annual rental beginning with $10,000 the first year aud in
creasing to $20,000 In 1916 and thereafter, and has assumed that company1
*
l*t M. bonds.
Franchise of the Traction Co. in the city of Charleston expires in 1954;
interurban line* are operated almost entirely on private rlgius of way.
In Mar. 1918 issued $450,000 secured notos to retire $300,000 3-yoar
notes duo M ay 1 1918, and to fund other indebtedness. V. 106, p. 1125.
STOCK AND BONDS—
Date.
Interest. Outstanding
Maturity.
Stock, $1.500,000 ($100)...........................................$1.500 000 S«« text.
Secured notes, $450.0°0 (Si,-1 1918
6%
$450.000Mar.l5 1919
,0 0 0 ). gold------------------------(Safe Deposit & Trust Co., Balt., Trustee.
K^2.Vi £ J r
M. *2.000.0001 1906
5 g J-J
1.000.000 Jau 11946
($1,000) gold c --------------tf (Int. at Fidelity Trust Co . Phila.. Trustee.
Bonds.— Payment or prin. and Int. of tho Kanawha Vai. Trac Co. bonds
has been assumod by tho Charleston Interurban RR. $600,000 or the
bonds have been deposited as security for tho notos issued by tho Charleston
Interurban RR.
, Woles.— Secured by deposit of $600,000 Kanawha Valloy Traction Co.
1st M . bonds. At maturity tho co. may, at Its option, issue an equal
amount of similar notos each consecutive 4 mos. over a maximum period
of 1 year from Mar. 15 1918, but noteholders aro under no obligation to
renew beyond tho dato specified in tho noto itself, unless they so dosire
(tho notes havo been extended for tho full year as authorized). Red. at 100
- d i n t , as^a whole on any 4 mos.’ maturity dato upon 10 days’ notlco.
EARNINGS— Gross.
Net (after Bond.&c.
Balance.
Cal. Year—
Earnings.
Taxes).
Interest.
Rental.
Surplus.
}g }7 ................... $418,855
$156,202
$95,523
$20,000
$40,099
8J5.................... 326.149
162,602
88,812
20,000
53.790
1915- - - - - 245,108
111.447
55.710
15.000
40,737
ROAD.— Operates 38 miles of track between St. Albans and Cabin
Oreok. Line Is to be extended to Montgomery, about 10 miles further on.
70, 80 and 100-lb. T and girder rail. Standard gauge. 34 pas.songer cars
(26 of P-A-Y-E typo), 5 freight cars and 2 trailers. Power Is obtained from
the Virginian Power Co. under favorable long-term contract.
OFFICERS.— Pres., W. A. MacOorkle: V.-F j ic Chilton; Sec. and
Treas., F. M . SUunton.— V. 105, p. 1208; V. 106, p. 1125.
CHARLOTTE, N. C.
SOUTHERN PUBLIC UTILITIES CO.
Allied with th* Southern Power Co., which see In our "Railway and In
dustrial" Section.
ORGANIZATION.— Incorp. In July 1913 in Maine as a consolidation
of the Charlotte Electric R y.. Charlotte Gas & Eioctric Co. and Charlotte
Power Co. (ttaes* three forming prior to Jan. 1 1911, the Charlotte Electric
Ry., Light & Power C o., which company Issued tho bonds shown In the
table.— See "Eiectrio. R y." Soc. for May 1915): Greenville (S. O.) Gas &
Electric Light & Power Co.; Greonvillo Traction Co.; Fries Mfg. & Power
.
Co.. Winston-Salem. N. O.; Winston-Salem Power Oo.; Anderson (S. O.)
Water. Light & Power C o.. Chester (S. C.) Powor Co.. Thoniasvillo (N. O.)
Power C o.. Greer (S. O.) Light & Power Co. and Thornton Light &
Power Oo. (Hickory, N. O .). Owns entire $250,000 common stock of
tho Greenvilio-Caroiina Power Co. (there Is also $200,000 w% cum. prof,
stock outstanding) which owns and operatos a 3.500 h. p. hydro-electric
plant near Greenville. The Charlotte Elec. Ry. in May 1915 through an
amendraentin Its charter, reduced its capital stock from $1,250.000 to$ l .000.
Franchises
CHARLESTON CONSOLIDATED RAILWAY & LIOHTINO CO. beyond July with one minor exception are either unlimited In time or run
1*43.
V r * ?2 * h 3 1 1 9 1 7 th° United Gas Impt. Co. owned $1,400,000 common
Fare Increase.— In Aug. 1918 was auth. by tho Nortli Carolina Corpora
and $449,650 pref. stock.
ORGAN IZATION .— Incorporated in South Carolina on April 19 1910. tion Comm, to incroaso fares from 5 to 7 cents on linos in Charlotte. Dur
ham and Winston-Salem. V. 107, p. 502.
Leases for a period of 99 years from June 21 1910 the Charleston Cons. Ry.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
¥*?
^lec. C o\ Le»s« Ruar. 6 % on pref. and 4% to July 1 1911. 5% te
_______
$5,000,000
Jan. I 1913 and 6 % thereafter on corn, stock; also int. on outstanding Stock $5,000,000 ($100)___________
1st & ref M S30.000.000 gold! 1913 5 g J-J
4.487,000 July 1*1943
bond3 or the Char. Cons. By., Gas A Elec.
8
($1.000,$5,000.4cc.)c*icr*.tf)Int. at Farmers’ L. A; Tr. Oo., N Y ., Trustoe
Rates.— As a result of a compromise with the city, cheaper gas, eioctric
Underlying Bonds—
light aud power rates were put into effect Nov. I 1912. V. 95. p. 1206
5 g J-J
325,000 July 1 1929
Application for Rate Increase.— On April 1 1918 was auth. by tho City Char Elec Ry. L & P 1st M l 1899
$500,000 g ($1,(100) sf c*n tf(In t. at Merc. Tr. A Dop. Co., Balt., Trustoe.
Council to increase gas rates from $1 to Si 10 per 1,000 cu. ft.
Char Elec Ry, L A Pref A ext\ 1906
5 A-O
466,000 April 1 1936
Fares. O n M a y 1 4 1 9 1 8 t h o C i t y C o u n c i l r e j e c t e d t h o c o . ’ s a p p l i c a t i o n
M $2.000,OOOg ($1.000)c*tfJInt. at Merc. Tr. A Dop. Co., Balt .Trustee.
l o r a u t h . t o in c r e a s e fa r e s f r o m 5 c e n t s t o 6 c e n t s .
Fries Mrg A P 1st M goldl 1900 5 g J-J
489.000 Jan 1 1940
STOCK—
Par. Authorized. Outstanding. Dividends.
($1,000) optional at U 0 -_ .(I n t . at Equitable Tr. Co., N. Y .. trusteo.
Common.................................... $50 $1,500,000 $1,500,000
None
Anderson Water Lt A P Co________
_______
382,500
...................
50
500.000
600.000
None.
_______
54.000
Pl n - Gadsdon; V .-P., Walton Clark; V .-P ., Lowis Winston-SaUm Powor C o___ _____
Bonds of Controlled, &c., Cos.—
&. Asst- Sec., C. M . Benedict; Sec., G. W. Curran; Treas., 1.
5 g M-N
278,000 May 1 1935
W Morris; Asst. Sec.-Treas., M . O. O. Tessier: Aud., Chas. J. Bendt. Greenv-Caro Power 1st M gl 1905
($ 1.00 0)---------------------- tffln t. at Old Colony Tr. Oo.. Boston, trustee
Y. 96, p. 862; V. 105, p. 1522. 2093; V. 106, p. 2227.
Bonds.—Of the 1st and ref. bonds, $1,587,600 are reserved for prior lions;
(t) CharleU on C onsolidated Ry.. Gas & Electric Co
■ e&'Pnnh 31 1 9 1 7 th® Unitod Gas Impt. Co. owned $1,322,300 common remainder issuable for 70% of cost of extensions and acquisition of other
i
properties. Redeemable In whole or In part at 105 and Interost. The
and $457,900 pref. stock.
^°AfM IZATION .— Organized Feb. 21 1899 as a consolidation of the Charlotte Electric Ry., Light A Power 1st M. bonds havo a sinking fund,
Charleston City By. and Charleston A Seashore RB. under Special Act of operative July 1 1900, of 1% of bonds out; to be invested In bonis drawn
by lot at 107 4$ and lilt., if not obtainable at lower figure in open market;
8 ° . Oar. Legislature, granting perpetual charter and gas A elec, light powers.
In Oct. 1912 sold to James Sottife the Seashore division, Incl. wharf prop- $45,000 hav* been canceled. The ref. and ext. rntgo. bonds havo a sinking
fund operative April 1907 of 1% of bonds Issued, for purchase of bonds at
ertles rerryboau. the railroad line from M t, Pleasant to the Isle of Paints
with its equipment, and the power house on Sullivan island. Sale was aath’ 10714 and int.. If obtainable; otherwise, such investments as trusteo dooms
2 L an .
the Legislature approved Feb. 12 1913 and formal transfer proper. V. 88, p. 1252. $19,000 have been retired. A sinking fund of
was made Mar. 15 1913. V. 96. p. 862. See Charleston-Isle of Palau 1% on tho Gre*nville-Carolina Powor Oo. bonds bogan May 1 1910.
Traction Go. below.
EARNINGS.— For years ending Fob. 28:
Gross
Net after Taxes. Deprec.
Bond Int. Bal.. Surp.
Franchises are perpetual. Also owns the capital stock of tho Charleston , Uiw-—
1917-1 8...$ 2,178,115
$882,023
S208,()00
$317,810
$356,213
Co- l*99* -150) and the Charlaston-Edison Light & Power Co
1910-17... 1.860,813
757,58-4
110,898
311.520
335 166
In ChariestVin" ' 1 V ^ '> C° nt880 th° whole fiold of llght oud tra» 9l*wtatIon
PROPERTY.—Operatos 70 ralios of street railway; 60. 70 and 90-lb. T
4 ft. 8)4
primary linos
mon' 1stock h *V 191g4 8 9 9
|j*r^ oMfie” authorized the Issue of $500,000 now com- and girder rails; gauge, serving 18in. Powor and lightplants, serving aggre
gating 1,644 mil** and
communities; 2 gas
Ohar„ U Sept*
18 it was stated that tho co. would oxpond from $700,000 to lotte and GreeBvill* with 87.5 miles of mains; water plant serving Andorson
*'50,000 to doublo tho capacity of tiio Charlotto Street electric generating with 28 mil as of mains. Leases Savannah Power Oo. s plant near Andorson;
station and lor other impts.. the additional power to bo used in furtherin'' capacity, 3,000 ta.p. Total capacity of plant* operated, 24,000 h.p., of
essential war work. It was further stated that tho War Industries Board which 19.000 h.p. Is hydro-electric generation. Also has favorable con
tract with Saathern Power Co. for the purchase of additional powor.
•Jl? ? '.'}? 0 expenditures to tho extent of $350,000. V. 107, p. 1191.
OFFICERS.— Pres.. Z. V. Taylor; V.-P., A. V. Harrlll; Sec.. VV. O.
S3 OOK AN I) BON 1)3— Date.
Interest. Outstanding.
Maturity.
Parker; Treas.. K. O. Marshall; Gen. Mgr E F Taylor.— V. 97. p. 241
I W ^ V COnl1 *3d2S2-S28 S
...........
9 -J
$3 000.000 S«e text
180; V. 101, p. 1886; V. 101. p. 1046; V. 107, p. 502.
fte f
cum $500 000 ( $ 5 0 ) .-----Q-J
500.090 See text.
Uii^r'e^on City first mtgel 1898
5 g J-J
717,090 Jaa 1 1923
PIEDMONT & NORTHERN RV\
($1,000), 5850.000 goldctf(In t. at Merc. Tr. A S. D. Co..Bait.
ORGANIZATION.— Incorp. on Feb. 21 1911 In South Carolina, and on
Consoi mtge. gold, $2,500.-1 1899
5 g M-S
1,752.000 Mar 1 1999
000, coupon ($ l ,000) _ _ ♦tf /Interest at Baltimore Trust O*.. Trusteo or about July l 1914 took over the properties of tho Piedmont Traction Oo.
Holders can also collect coupons at Carolina Savings Bank and People1 and th* Graenvllle Spartanburg A Anderson Ry. Co. The system as pro
*
jected Is to extend from Durham, N. O., to Greonwood. S. O., 320 inllos.
National Bank Charleston, If presented before tho 10th of tho month.
Bonds.--— tho consolidated 5 3 , $717,000 are reserved to rotire a lik*
Of
Power is obtained from Southorn Powor C o., which Is controlled by the
amount o f City_R y. first 5s. Charleston City 1st 5s have a sink, fund of same Interests.
Government Control.— This proporty came under Government control
n? i n r
, F *7 -350 per ann. for the purchase or redemption of said bonds
at 105 and interest.
under tho President's proclamation of Dec. 28 1917. V. 105. p. 2509.
DUirlcnls.— See dividends guaranteed under lease above.
E. it. Ooopman was subsequently appointed Federal Manager. T. 107,
ROAD. Ac.—Owns 37.51 miles of electric road in Charleston. The com p. 502.
pany has consolidated its two power stations; both railway and light and
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
power dlyisloas are being operated from .same station.
Stock $15,099,000 ($100).....................................$8 ,5 8 1 ,0 0 0 __
n J ? F I ERSl7r.!>r0 SlT I« ,ili? Hl Gadsden; V.-P., Theo. W. Passailalgue; First mortgage $50.000.000( 1914
/ 'F
1
5 g J-J
36,000 July 11954
Sec. & Treas., Chas. J. Bendt; Asst. Sec.-Treas., M . C. C. Tessier. all or
($1,009). gold---------c* n tflln t. at Farmers’ Loan A Tr. C o., N. Y ., trus.
charleston. Offices, No. 141 Mooting St., Charleston.— V. 107, p. 406.
1st M call notes $8,500.000( 1911
5 g J-J
6,280.900 July 1 1919
g ($1,080 A $199) not lntar\Int. at Farmers’ Loan A Tr. Go.. N. Y .. trus.
OF PALMS TRACTION CO.
Stock.— $1,415,400 additional stock Is hold In treasury.
.in n n ^ n n 1^ 7,1'
? corP' 1,1
O. Jan. 9 1913 with auth. capital at
Bonds.— $10,000,000 are plodgod as socurity Tor tho $8,500,000 notes.
$1,000,000, to build railroads, steam or electric, street railways, Sec.
Rod. at option of co.. in whole or part, any Int. date since July 1 1914 at
operate steamboats, and to take over what was formerly the Seashore 105 and Int. Of tho notes $500,000 aro plodged as collateral and $1,713,100
division of the Charleston Consol. B y., Gas & El. Co. Also does electric
aro hold In treasury; thoso reported outstanding, It is stated, havo been
lighting business.
taken nrivatoly by tho subscribers to tho road.
n p GAI), &c.— Owns 10 miles from M t. Pleasant (connecting by ferry with
EARNINOS.— For cal. years (1917 report In V. 107, p. 78):
HbarI< t01J to Sullivans Island and Isle of Palms, a pleasure resort on
5
Cal.
Cross
Net (after
' Other
Interest,
Balance,
anVC Goast, Incl. land at Isle of Palms, ferry, power house on
i
Year— Earnings.
Taxes).
Income.
tfcc.
Surplus.
Sullivan h Island and sub-station at Mount Ploasaut, &c. Owns and ODer
1 9 1 7 ................- $ 1 , 5 2 3 , 6 7 4
$ 5 8 9 ,2 9 1
$ 8 ,3 6 0
$ 3 3 9 ,8 1 4
$ 2 5 7 ,8 3 6
otes 19 pass and 3 freight cars and 2 ferry boats.
1 9 1 6 ................ 1 . 2 2 4 , 1 5 9
5 1 8 .5 9 5
9 .6 5 3
3 4 6 .0 2 3
________
182,224
O
F|. I C E R S . — P r e s . , J a m o s S o t t i l e ; T . - P . & G o n . M g r . , I . B l a n k . —
P a s s e n g e r s c a r r ie d in 1 9 1 7 , 2 , 3 4 1 , 3 3 4 ; in 1 9 1 6 , 1 , 4 0 7 , 3 5 8 ; rovenu* t * n s
▼ ” o, p. 2 0 1 , 862.
•
CHARLESTON, S. C.
c a r r i e d , 7 5 4 . 3 8 6 in 1 9 1 7 , a g a i n s t 7 1 7 , 2 9 6 in 1 9 1 6 .
ELECTRIC RAILWAYS
SHPT., 1918.]
R OAD.— Owns and operates 23 H mllos from Charlotte to Gastonia,
89.90 miles Spartanburg to Groonwood, S. O., with branches from Bolton
to Anderson, 11.30 miles, and from Belmont J e t . to Belmont, 3.19 miles
(opened March 1 1910). total mileage o f track operated, Incl. spurs and s i d
in g s a n d
1 0 .5 0 m ile s o p e r a t e d u n d e r c o n t r a c t , 2 0 4 .6 9 .
T w o a r m y tr a in in g
c o m p a n y ’s li n e s d u r i n g 1 0 1 7 — C a m p S e v ie r ,
S . C . , a n d C a m p W a d s w o r t h , 5 m i l e s s o u t h of
S p a rta n sb u rg .
E q u ip m e n t c o n s is t s o f 2 3 m o t o r - d r iv e n p a s s e n g e r c a r s ; 16
tr a ile r s , 2 o b s e r v a t io n p a r lo r c a r s , 8 b a g g a g e a n d e x p r e s s c a r s , 157 fr e ig h t
cars, 3 s t r e e t c a r s , 1 2 e l e c t r i c a n d 1 s t e a m e n g i n e a n d 10 w o r k c a r s .
OFFICERS.— Pres., J . B. Duke, N. Y.; V.-P., W. S. Lee; V.-P. &
camps w e r o l o c a t e d o n t h o
a miles n o r t h of G r e e n v i l l e ,
Gen. M gr., E. Thomason; Sec., N. A. Cocke: Aud. & Troas., T . L. Black,
all of Charlotte.— V. 1 0 5 , p. 2 3 6 6 , 2453; V. 1 0 7 , p. 78, 5 0 2 .
C H A R L O T T E S V IL L E , V A .
CHARLOTTESVILLE & ALBEMARLE R Y.
,,
ORGAN IZATION .— Organized In Virginia and formed by an agreement
of consolidation dated Nov. 24 1913 between tho Redland Power Corpora
tion and the Charlottesville & Albemarle R y. A lighting and power com
pany with a short Interurban railway as an adjunct. Light and power fran
chises are perpetual; County, R y. franchises are perpetual, while city fran
chise expires In 1944.
Fare Increase.— On Apr. 16 1918 was auth. by tho Va. Corporation Comm,
to eliminate tho 6 -for-a-quarter tickets and to increaso children’s tickets
from 2 1 4 cents to 3 cents. V. 106, p. 1688.
„
STOCK AND BONDS—
Dale.
Interest. Outstanding._ Maturity.
Common stock $500,000 ($ 1 0 0 )................ - ............
$500,000 Dec 17,2%
Pref stk 7%cum$200,000($100)____
J-D
122.700 June•*18. 3 Vt
First mortgage $750,000 gold! 1915
6 g A-O
_ 376,000 April 1 1943
($1,000).........................c*cpt) Interest payable In Baltimore, M d.
Bonds.— Additional bonds may be Issued only for 85% of cost of lmpts.
and exts. ana only when net oarnlngs for the past 12 months are equal to
twice tho Interest charges on the bonds outstanding and those to be Issued.
A special depreciation and reservo fund Is provided out of gross earnings
for maint., &c. $24,000 (not incl. in amount outstanding) are hold in
the treasury. Rod. at 105 and int. on 60 days’ notco . V. 100, p. 1436.
Dividends.— 7% per ann. Is being paid on pref. stock. On common first
dlv. of 2% and 1% oxtra paid In June 1916. In Dec. 1916 paid 244%.
In 1017, Juno, 244%; Dec., 2% . None since.
EARNINGS.— For years ending Dec. 31:
Year—
Oross.
Net.
Other Inc.
Chgs.
Pref. Die. Surplus
$60,279
$264
$29,236
$8,589
$22,719
1917____$120,120
1916------- 114,819
63,000
495
28,072
8,589
27,434
1915____ 103.383
55,232
043
20.603
6.567
22,705
ROAD.— Miles of track, 3.45; standard gauge. Ralls, 83-lb. girder and
50-lb. T . 12 cars. 1 powor station.
„
_ ,,
OFFICERS.— Pres., Frederick C. Todd: V .-P .. John L. Livers; Sec. &
Troas., W. R. Morton.— V. 103, p. 2428; V. 106, p. 606, 1088.
C H IC A G O , IL L .
AURORA ELGIN & CHICAGO RR.— Third-rail electric and trolley.
ORGANIZATION.— Is a consolidation In April 1906 of the Aurora Elgin
& Chicago Railway, the Elgin Aurora & Southern Traction Co. and the
Cook County A Southern RR. V 82, p. 279. 691. 1155. Chartered In
Illinois under law applying to steam railroads. Pres. L. J. Wolf, In a letter
dated May 20 1909 (V. 88. p. 1018),stated that system is ’ ’ln the main on
private right of way or protected by 5 0 -yoar franchises or grants without
limit.” Does freight and express os well as passenger business. V. 83,
p. 490. Has exclusive contract with tho Metropolitan West Side Elevated
to operate over Its tracks.
,
,_
Stockholders voted Oct. 18 1910 to purchase the Chic. Wheaton & West
ern R y., which run* from West Chic, to Geneva, abt. 10 miles. V. 91, P.517
Rates.— On Fob. 1 1918 the 111. P. U. Comm. auth. an increaso in faro of
5 conts on tho co .’s linos botweon Aurora and Chicago and between Aurora
and Batavia, and a straight 5-cont fare within tho city limits of Aurora
and Elgin. V. 106, p. 714. On July 5 1918 fares in Aurora and Elgin wero
increased to 6 cents. At tho same time lighting rates wero increased 25% ,
power rates 33 1-3% and freight rates 25%. V. 107, p. 905. In Sept. 1918
an increase o f 25% in passenger rates was auth. by tho I.-S. C. Comm.
' 'Interest Deferred.— As of Juno 14 1918, holders of tho $3,079,000 1st &
Ref. M . bonds were advised that tho company was unable to meet the
interest on their bonds duo July 1 1918. The management expressed tno
belief, however, that its applications for increased passenger, freight, light
and power rates would bo granted [since granted— see above] and that this
would enable the co. to pay tho overdue interest prior to Jan. 1 1919.
V. 106, p. 2648.
,
Financing.— In Aug. 1918 it was announced that tho co. would creato a
new Issue of $1,219,000 3-year 744% Coll. Trust notes dated Sept. 1 1918,
secured by 1st & Ref. M . bonds at 75, and that tho War Finance Corp.
had agreed to loan tho co. $219,000 provided: (1) That the maturity of tho
$1,540,000 outstanding Elgin Aurora & Southern Traction Co. bonds bo
extonded from June 1 1919 to Sept. 1 1921. (2) That tho banks holding
tho c o .’s $237,500 unfunded notes subscribe for $200,000 o f tho new 744%
notes at par and accept tho co. s unsecured notes for the balance. (3)
That the holders of tho $800,000 6% Coll. Trust notes maturing Sept. 1 1918
exchange their notes, par for par, for the new 744% notes. It is understood
that the bond and noteholders directly concerned have agreed to conditions
l and 2 and that condition 3 also probably will be fulfilled. This plan
would enablo tho co. to pay the Juno 1 and July 1 1918 bond interest.
V. 107, P- 905.
STOCK AND BONDS—
Date.
Interest. Oulsfd'g. Die. Adue date
Common. $3,10^.000 ($100).............
Q-J
$3,100,000 See text.
Pref $3 .100.000(3100) 6% cum
Q-J
3.100.000
See text
First and rafundhig mortgage/ t9O0
6
g J-J 3.079.000 July 1 1940
515,000,000. gold ($1,000)lin t, at; Git. Sav. S Tr. C o., Clove., and also
c
See text..............c * & r * tf
In N . Y. Trustee. North. Tr. C o., Chic.
Coll trust notes $800,000 red. 1 1915
6 g Q-M
S00.00« Sopt. 1 1918
at 101-10044...................... (Citizens Savings A Trust Co.. Oleve., Trus.
A E & O Ry first mortgage/ 1901 5 g A-O 15
2,049,00$ Apr 15 1941
$3,000,000 ($1,000). gold Amor. Tr. & Sav. Bank, Chicago, Trustee.
cannot bo called---------- tf (Interest payable In Chicago aad New York
Elgin Aurora & Southern first/ 1901
5 g J-D
1,540,000 June 1 1919
mtge, $2,000,000 ($ 1 ,000)/In t. at Amor. Tr. & Sav. Bank, Chicago.
gold, sinking fund----- c * tf l Trustee, and First Nat. Bk.. N. Y. City
Stock.— Pref. stock was 5% cum until April 1 1009: since 6% cum
Bonds.— Of the $15,000,000 (originally $25,000,000. but reduced In 1910)
1st & rof’g bonds, $1,599,000 are In treas., $4,195,000 reserved for prior liana
and the balauce for Improvements, extensions and self-supporting acquisi
tions. under rigid restrictions. They are not subject to call now. See V.
8 8 . p. 1018.
Collateral trust notes are secured by deposit of SI.007.000 1st
and ref. mtge. 5% bonds. Int. payable In N. Y. and Cleveland. V. 100.
p. 811. Those notos originally fell duo Mar. 1 1918, but were extended to
Sept. 1 1918. On tho Aurora Elgin & Chicago Ry. bds.a sk. fund of $50,000
per annum began on April 15 1911. Seo V. 74, p. 726. $351,000 havo boon
retired. Tho Elgin Aurora & South, bonds originally matured Juno 1 1916
but wero extended to Juno l 1919 unless sooner red. by co.. at $1,005
per bond; remaining $454,000 held in sinking fund
Dividends.— First dividend on pref.— 144%— paid July 1900 (V. 82, p
1436). and tho same amount quarterly up to and Including April 1909.
July 1909 dividend lncreasod to 144 % and same amount paid quar. to
Aug. 1 1915. Oct. 1915 dlv. omitted (v . 101, p. 1012) and none paid since.
On common, first dividend— H % — Oct. 7 1907. In 1908 to 1913, incl.,
3% yearly. In 1914. Jan., J4 %: April, 44 % ; July, % %; Oct. dlv. deferred
(V. 99. p. 894, 968), and none paid slneo.
REPO RT.— For year ending Dec. 31 1917 (V. 106, p. 1571):
Y e a r e n d in g —
G ross
le a r n in g s .
N e t (a fte r
O th er
T a ie s ).
In com e,
l i e ,d u e lio n s .
B a l., S u r.
fo r Y ea r.
Dec. 31 1917..................$2,169,349 $595,449
$193 $502,546 $93,090
Last half 1916_________ 1,109,326 367,811
203
253,425
114,589
Juno 30 1910--------------- 1.950,510 651,008
257
489,210
162,055
Latest learnings.- -Six months to June 30—
Period
Gross
Net
Bond,Ac., D epr.A
Balance,
Catered—
Earns.
Earns. Interest. Amort’n. Sur. or lief.
6 months 1918
........$903,460 $113,491 *215,087 $41,462 def.$143.050
0
months 1917______ 998,038 256,500 214.595 39,067 sur.
2,837
ROAD.— Operates from 5th Ave. station In City of Chicago, over tracks
of Metropolitan West Side Elov. road, to 52d Ave., Chicago; thence on Its
own lino to Wheaton, with lines from Wheaton to Elgin, Batavia, Geneva
and Aurora; also from Elgin to Carpentcrsvllle, Dundee, St. Charles,
Geneva, Yorkville and Bristol, and a line from Wheaton through West Chi
cago to Gonova. Total single track, 109 miles. Third rail, standard T .
108 lbs.; track rails, 80 lbs.; Interurban and city lines, 60-100-lb. T and girder
25
rails; 142 passenger cars; 7 express cars; 6 snow plows and sweepers; 7 misc.
cars; 47 freight cars; total cars, 210.
OFFICERS.— Pres., L. J. Wolf, Cleveland; V .-P ., M . J. Mandelbaum;
V.-P. and Gen. M gr.. Edwin C. Faber, Wheaton, 111.; Sec. and Treas..
H. O. Lang, Cleveland; Asst. Sec., A . Born; Asst. Treas., H. J. Manning:
Executive offices, Guardian Bldg., Cleveland, Ohio.— V. 106, p. 714, $2$,
1571, 2449, 2648; V. 107, p. 801, 905, 1098.
CHICAGO SURFACE LINES^
Under the title of Chicago Surface Lines the properties of the Chicago
Railways Co. and the Chicago City Railway Co. are now being operated
as a single system under the control of a joint board of operation In accord
ance with an agreement between the two companies and the unification
ordinance which became effective Feb. 1 1914. While under the terms of
this ordinance and the agreement the ownership of the properties remains
entirely separate and distinct, the combined earnings are divided upon an
agreed basis. For the two years ending Jan. 31 1910 the Chicago Railways
Co. received as Its share 59% of the Income remaining after the pay
ment of all operating expenses. Including taxes and maintenance, the other
41% of the Income going to the Chicago City Ry. Co., including the
Calumet S South Chicago Ry. and the Southern Street R y., and, begin
c
ning with Feb. 1 1910 and until the expiration of Its franchise la 1927, the
Chicago Railways Co. will receive 60% of the so-called “ residue receipts,”
and the Chicago City R y. (Including the Calumet A South Chicago and
the Southern Street R y .), 40% . The plan provides for a 5-cent fare
throughout the city on surface lines, also through routing of cars from one
division of the city to another. See details of the ordinance and the
agreement for unified operations under date of Dec. 1 1913 In V. 98, p.
1693. An order permitting the State Attorney to file quo warranto pro
ceedings to question the legality of unification ordinance was denied In
March 1915. V. 100, p. 1078.
O r d i n a n c e t o U n i t e S u r f a c e a n d E l e v a t e d L i n t s . — See remarks under
Chicago Elevated Railways.
Application to Carry Freight.— See under "Chicago Elevated Rys.”
Decision.— On April 19 1917 the 111. Supreme Court upheld the right of
the State Public Utilities Comm, to regulate street car service In Chicago
regardless of tho provisions of the contract ordinances of 1907 between the
Chicago City Council and tho surface linos. Pursuant to this opinion a
decree was entered by the Circuit Court of Cook County in favor of the
Comm., which was affirmed by the 111. Supreme Court. An appeal taken
to the U. S. Supreme Court is still pending.
REPO RT.— Of entire system for years ending Jan. 31:
Year ending
Gross
Operating
Residue
------ Of Which to—
---•Jan. 31— Earnings.
Expenses.
Receipts. Chic.C.Ry.. Chic. Rys.,
1917-18.......... $35,114,633 $23,101,696 $12,012,937 $4,805,175 $7,207,762
1916-17.......... 34,789.630 21,743,523 13,046,113 5,218,445 7,827,668
1915-16.......... 31,690,761 21.041,356 10.649.405 4.366.256 6,283,149
1914-15.......... 31.966,048 19,889.275 12.076.773 4.951.477 7,125.296
Board of Operation.—Chairman Henry A. Blair, Leonard A. Busby,
Charles C. Adsit, Wallace Heckman. Harrison B. Riley, John M . Roach,
Frank O. Wetmore.
Executive Committee.— Leonard A. Busby, Chairman; Henry A. Blair.
OFFICERS.— Pres.. L. A. Busby; Sec. S Asst. Treas., F. D. Hoffman;
c
Treas., M . B. Orde; Gen. Aud., Jno. J. Duck.
CHICAGO C ITY & CONNECTING R Y S.— A collateral trust.
Formed In 1910 under a trust agreement, to take over the stock of the
Chicago City R y., together with the securities of the Calumet & South
Chicago R y., the Southern Street Railway, the Hammond Whiting & East
Chicago Ry. and the Chicago & Western. These properties comprise apuroximately 503.5 miles of street railway In southern division of Chicago
and vicinity. See outline of plan In V. 90. p. 558, 625. Trustee. Chicago
Title & Trust Co.
,
, .
On April 19 1913 the 111. Supreme Court affirmed the decision of the
Superior Court of Cook County in the suit brought by Clarence H. Venner.
which held valid the agreement dated Jan. 1 1910. creating the Chicago
City and Connecting Rys. Collateral Trust (V. 96, p. 1364. 1627). An
appeal was taken to the U. S. Supreme Court, but In Nov. 1914 suit was
dismissed. See “ Chic. City R y . t n V. 99, p. 1527.
O r d i n a n c e t o U n i t e S u r f a c e a n d E l e v a t e d L i n e s . — See “ Chicago Elevated
R ys.” below.
STOCK AND BONDS— Dale. Interest.
Outstanding.
Maturity.
Com part certs 150,000 s h a r e s .____
s-a
150,000 shs.
See text.
Pref part certs 250.000 shares...........
s-a 250.000 shs.
Seo text.
Coll trust mtge $22,000.0001 1910 5 A-O
$21,456,000
Jan 11927
gold sinking fund c*& r*tf (Int. at 1st Tr.&S.B.Chlc.. Trus.. or InN. Y.
Participation Certificates.— Preferred participation shares have no par
value but are entitled to preferential cum. dfvs. aggregating $4.50; also,
after com. partic. shares shall have received $4 In any year, the remaining
surplus, not exceeding in any year $ 1 ,0 0 0 ,0 0 0 . shall be paid ratably, % to
pref. and H to com., but In no case will the pref. certfs. be entitled to more
than $ 7 each per annum; also have preference upon distribution of trust
fund to tho amount of $100 each and accumulated dividends. Listed on
Chicago Stock Exchange.
, ,
,
„„„
Bonds.— Coupon bonds in denom. of $1,000; registered bonds $1,000 or
multiples. A Kink, fund of $105,000 of bonds p. a. began Mar. 1 1915.
Bonds are redeem, for tho s. f., or as a whole, at 105 and int. $544,000 re
deemed as of Sept. 1 1918. In case of purchase of property of tho Chicago
City Ry. by City of Chicago, or termination of trust agreement of Jan. 1
1910, then bonds are redeemable at par and accrued int. See V . 90, p. 558,
625. Bonds are listed on N. Y. and Chicago stock 'exchanges. V .9 4 ,p .lll8
Stocks and Bonds Deposited to Secure the Coll. Tr. Bonds.
Slocks (par).
a Bonds (par)
Chic. City R y.......................................... $16,971,900
None
Calumet & South Chicago R y -----------*10,000.000
------------Southern Street R y _________________ *2,400.000
-------Hammond Whiting & East Chic. R y -. *1.000,000
*1.000.000 1st 5s
Chicago & Western___________________
*72,000
-----------T o t a l.................................................... $30,443,900 $1,000,000
* Entire Issue.
.
,
a Under provisions of the trust mortgage these respective Issues of bonds
each as an entirety may be converted Into capital stock of the respective
companies to an equal amount.
,
Dividends.— On pref. part. ctfs. $2.25 per share was paid seml-an.
from Juno 1910 to and inch July 1914. In 1915, $2 50. In 1916, $1 75.
In 1917, Jan., $2 25 (V. 101, p. 72); July. $1 50. In 1918. Jan.. $1 50.
July dlv. omitted (V. 106, p. 2755). On common participating certificates
$1 per share was paid semi-annually from June 1910 to and including
July 1912. None since.
liE FO R T .— For calendar year (V. 106, p. 497):
Cal. ---------------Income----------------Bond Bond Other Divs.on Surp.
Yr.
Divs.
Other.
Gross.
Interest. Redemp. Ded. Part.Shs. Inc.
s
s
s
$
$
$
$
s
1917.1,916,831 124,020 2,010,851 1,078.315 105.000 81,346 750,000 26.190
1916.1.979.751 120,918 2,100.669 1,087,209 105.000 71,938 812.500 24,022
1915 1,704,352 110.811 1,815.163 1,094.750 105.000 58.114 500.000 57.299
Committee.— Chairman, Harrison B. Riley, S. M . Felton, James B. Forgan, John J. Mitchell, Samuel Insull, John A. Spoor. B. E. Sunny. E. K.
Bolsot and L. A. Bnsby.
__
. .
OFFICERS.— Sec. & Treas., W. W. Crawford; Aud., W . W . Hill.—
V. 105, p. 2455; V. 106, p. 188, 497 924, 2755.
(1) C hicago City Railw ay,— An electric road.
Unified Operation of Surface Lines.— See “ Chicago Surface Lines for
details of unification ordinance under which the lines of this company
are operated Jointly with those of the Chicago Railways Co. as a single sys
tem under the control of a joint Board of Operation. For plan to unite the
surface and elevated lines see "Chicago Elevated R ys.”
ORGANIZATION.— Incorporated In Fen. 1859. and has extensive sur
face road privileges in the south division of Chicago. Has a contract ex
piring Jan. 31 1927 with the Commonwealth-Edison Co., for the supply of
its entiro power requirements. Tho railway has abandoned its producing
plants but retains its distributing plants.
New Ordinances and Franchises.—On Feb. 4 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 15 1907. Suit to
set aside franchise was dismissed In April 1912. V. 94, p. 1118. An ex
tended outline of these ordinances, one to the Chicago City Railway C o.,
and covering the lines operated by that company, and the other to the Chi
cago Rys. C o., and covering the lines of the former Chicago Union Traction
Co. (now the Chicago Railways C o.), was given In V. 84. p. 1123. The value
of the tangible and Intangible property of the Chicago City By. at date of
the ordinances was fixed at $21,000,000. The city or any company au
thorized by it Is given the right on Feb. 1 or Aug. 1 of any year, on six
26
ELECTRIC RAILWAYS
months' notice, to purchase the entire property of the two systems, or either
of them, at their value at date of ordinanco, plus "the cost of rehabilitation
and extensions, Including fair allowances for construction, profit and
brokerage” . But if the properties are acquired for operation by a pri
vate corporation, for its own profit, the purchase price is to be increased
2 0 % — 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 their operation to an interest return
of 5% upon the agreed value plus the cost of rehabilitation and exten
sions. All net profits above this are to be divided on the basis of 55%
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 15 1910 the
companies are required to set aside 6 % of the gross receipts lor maintenance
and repairs and an additional 8 % or the gross receipts to cover renewals
and depreciation. Whatever portion of the two funds is not used remains
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. The franchises granted by the
ordinances run until Feb. 1 1927. Purchase price of the property Jan. 31
1918, $53,096,306On Jan. 29 1912 City Council passed an ordinance providing for the ac
quisition by Chicago City Ry. of city lines of the Chicago & Southern Trac
Co. V. 94, p. 349, 629. The latter was sold at foreclosure in Fob. 1912
The lines outside the city were taken over by the Chic. & Interurban Ry.
Decision as to Regulation.— See “ Chicago Surface Pines.”
P. U. Comm, has auth. the co. to issue $2,000,000 additional bonds for
impts., &c.
STOCK AND BONDS—
Date.
Interest. Outstanding. LastDle.,Ac
Stock. $18,000,000 ($100)___ _____ Text Q-M30 $18,000,000 Jnne'18, 2%
1 st m t g e ($ 1 ,0 0 0 ) g . . c * & r * t f /
1907
5 g F -A
3 3 ,9 0 0 .0 0 0
F eb
1 1927
(F ir s t T r u s t S S a v . B k ., C h ic a g o , T r u s te e .
c
Notes payablo Jan 31 1918...................................
1,200,000 ...................
Donas.— There is no limit to the amount of bonds that may be issued
under the above mortgage. Under the Chicago city ordinance, in case of
purchase by the city or its licensee, and only In such case, the bonds may be
called as a whole, for payment at par and int.. on any int. date before ma
turity. V. 84, p. 1488, 1550. Bonds are listed on Chicago Stock Exchango
(V. 98, p. 380).
D IV ID E N D S.— In 1893, 24%; 1894-1900. 12%; In 1901. 10)4% : In
1902-09. 9% ; In 1910. 10%; In 1911. 1144%: In 1912, 11%; in 1913, 1014%.
in 1914, 9% ; in 1915, 8 %: in 1916. 9M % ; in 1917, 8 % and 3 % extra In
A
Dec. In 1918, Mar., 2% ; Juno, 2% .
ROAD. &c. (incl. Southern St. R y.).— Company owns 330.63 miles of
single track, all now operated by/electricity. System covers the South Side
of Chicago, extending from the centre of the business district south to 79tb
Street and between the South Branch of the Chicago River and tho Lake
RE PO RT.— For 12 months ending Jan. 31 1918, see V. 106, p. 1223.
Tho combined results of the “ Chicago Surface Lines" under the Unifica
tion Ordinance, which went Into effect Feb. 1 1914, were: Gross, $35,114,
638; operating expenses, $23,101,696; residue receipts, $12,012,937.
Income Account Chicago City Railway.
,
,
1917-18.
1916-17.
1915-16.
Proportion o f residue receipts........... . *$4,805,175 *$5,218,445' *$4,366.253
Joint acc’ t exp. int. on cap. inv. and
South St. Ry. net earnings............. 3,661,806
3.616,023
3,500,467
Net earnings....................................... $1,143,369 $1,602,422
$865,789
City s proportion (5 5% )---------628,853
881,332
476,184
Company’s proportion (4 5 % )_______
514,516
721,090
389,605
2,623,510
2,558.167 _2,507,908
Interest on capital. x ...............
Income from operation..................... $3,138,026 $3,279,257 $2,397,513
Other income.....................
58,358
88,244
81,582
Net incom e...............................
$3,196,384 $3,367,501 $2,979,095
$1,695,000 $1,617,791 $1,565,555
Interest on bonds.................
Dividends.............................. ..........(8 ^ ) 1,575,000(9 A ) 1665000 (8 ) 1,440.000
Balance...............................................def.$73,615 sur.$84.710 def.$26,460
, . l R,°Presentin« 40% o f residue receipts in 1917-18 and 1916-17, against
41% in 1915-16.
x The "interest on capital Investment" Is that certified by board of
supervising engineers, as provided by the ordinance of Feb. 11 1907.
OFFICERS.— Chairman Ex. Com ., and Pres. L. A. Busby; VlcePres., H. B Fleming; Sec. & Treas., F. D. Hoffmann; Aud., John
J. Duck.— V. 105, p. 1103, 1208, 2455; V. 106, p. 601, 924, 1223.
(2) Calumet & South C hicago R y.— Electric
Unified Operation of Surface Lines.— Soo "Chicago Surface Linos" for
details of Unification Ordinance of 1914. under which the lines of this com
pany are operated jointly with those or the Chicago Railways Co. as a sin
gle system under the control o f a joint board of operation.
ORGANIZATION.— Is a consolidation formed in 1908 of the Calumet
Electric Street Ry. and South Chicago City Rv. in accordance with the
terms or ordinance passed by the City Council Mar. 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
65% of net receipts after allowing for operating expenses, taxes and (le
predation and 5% on present value, together with amounts expended for
improvements and extensions. Unification ordinance of 1914 establishe»
a 5-cent fare and universal transfers. City may purchase property on
Feb. 1 or Aug. 1 of any year upon six months’ notice for present vatue.
which is fixed at $5,000,000, plus amounts expended for Improvements,
additions and extensions, but only for municipal operation, where purchase
is made prior to Feb. 1 1927. With an addition of 20% In price, city may
also purchase for the purpose of turning property over to other parties (If
purchased for Chicago City Ry. only 12% additional need be paid), but
this additional sum need not be paid where these other parties agree to pay
over to the city all of the profits above 5 % on the purchase price. V. 8 6 .
p. 1223. On Jan. 31 1918 certified value of property and additions thereto
was $10,885 515
STOCK AND BONDS—
Date. Interest. Outstanding.
Maturity.
StocK $ 1 0 ,0 0 0 .0 0 0 (5100)................
......... ..
$ 1 0 ,0 0 0 ,0 0 0 ...................
First mortgage rehabilitation f 1908 5 g F-A
5,355,000 Feb 11927
($1,000) gold, no s fc*&rtf \Int. at First T r.& S a v. Bk. Chic.. Trustee.
No.es payablo. Jan. 31 1 9 1 8 . . .......
.............
500,000 ..................
Bonds.— The issue of 1st mtge. bonds Is indeterminate, amount to be
limited to amount of new work done on property. They are subject to
call at any Int. date before July 1 1912 at 105 and Int.; thereafter only in
case city shall purchase property at par and Int. on any int. date., No s. fd.
EARN INGS.— For years ending Jan. 31:
Year ending *Inl. on
Other
Total
Bond
Dies.
Balance,
Jan. 31— Capital.
Income. Income.
Interest.
Paid.
Surplus
1917-18------- $535,682 $13,310 $548,992 $266,250 $275,000
$7,742
1016-17......... 518,809
25.864
544,733
206,250
250.000
28.483
* Representing company’s proportion of 41% of Chicago Surface Lines
residue receipts pursuant to unification ordinance effective Feb. 1 1914.
R OAD.— Owns and oper. 123.10 miles of track reaching South Chicago,
Pullman, West Pullman, Auburn Park, Burnside and Manhattan Beach
Also exteads from Jackson Park to 106th St. and the Indiana State line
along Lake shore and both sides o f Calumet River .70. 75, 83 and 85-lb.rails.
OF F1CE RS.— Pres., L. A. Busby; V .-P .. W. VV. Crawford; Sec. S Treas.
c
F. D . Hoffman; Aud., John J. Duck.— V. 98, p. 1243, 1603 V. 100. p. 1831.
(3) S outhern Street Railway C o.— A trolley road.
Unified Operation of Surface Lines.—See "Chicago Surface Lines" for
details o f Unification Ordinance o f 1914, under which the lines of this com
pany are operated Jointly with those of the Chicago Railways Co. as a sin
gle system under tho control o f a Joint board of operation.
ORGANIZATION.— Incorporated in Illinois as a reorganization of the
Chicago General Ry., which was bid in at forecisoure sale on Sept. 30 1907
by the Southern Street Railway Co
V. 85, p 893.
Stock outstanding (par $100) $2,400,000. Bonds Issued under 1st mtge1
.
of 1909 were from time to time canceled and stock Issued In exchange. No
bonds now out.
•
’
EARN ING S.— Included In statement o f Chicago City Ry.
ROAD.— Included in Chicago City Ry
OFFICERS.— Pres . L. A. Busby; V.-P., W. W. Crawford: Sec. & Treas
V. D . Hoffmann; Aud., Jno. J. Duck.— V. 91, p. 1031, 1712.
(4) Hammond W hiting & East C hicago Railway C o.— A trolley road.
All securities are owned by the Chicago City & Connecting Rys.
ORGAN IZATION .— Incorporated In Indiana In Jan. 1910 as successor
to Hammond Whiting S East Chicago Electric Ry. Franchise expires in
c
1954. Power is furnished by the Calumet S South Chicago R y .
c
[V ol
107.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity.
Stock $1,000,000 ($ 1 0 0 ) .........................................
$1,000,000 ...................
First mtge, $5,000,000. gold? 1910
5 g F-A
1,000.000 Feb 1 1930
($1,000) .................. c&r tf lin t, at First Trust S Sav. Bank, Chic.,Trust.
c
Bonds.— Subject to call at 105 and Int. E. K. Boisot is also trustee.
ROAD.— Owns 30.06 miles of track, extending from State lino between
Illinois and Indiana at 108th St., Chicago, to Whiting, East Chicago and
Hammond in Indiana, and ODerates in connection with Calumet & South
Chicago Ry. to 63d St. and Madison Ave., In Chicago. Standard gauge;
80-lb. T rail.
OFFICERS.— Pres., O. G. Talmadge; V.-P., Chas. L. Lawrenco; Sec. S
c
Treas., F. D. Hoffman; Aud., W. W. Hill.— V. 79, p. 103.
CHICAGO & INTERURBAN"TRACTION CO.
ORGANIZATION.— Incorp. In Illinois Feb. 14 1912 to take over the
property of the Chicago & Southern Trac. Co. (sold at foreclosure) outside
the city limits, the lines within the city having been acquired by Chic. City
Ry. V. 94. p. 697.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock, $1,000,000 ($100)...................
.............
$1,000,000 ............... __
First mtge. gold ($100. $500,( 1912
5 g J-J
1,350,000 Jan 1 1932
c
51,000), n o s f________ c*tf\ ln t. at First Tr. S Sav. Bk., Chic.. Trustee.
Bonds.— The auth. amount of 1st M . bonds Is not limited. Bonds are
subject to call in whole or in part, beginning with lowest number, at 102
on any interest day. There are also $378,000 bonds in treasury.
EARNINGS.— For years ending Dec. 31:
Year—
Gross.
Expenses.
Net.
Int.ATaxes. Surplus.
1917................ $338,158
$212,370
$125,788
$94,769
$31,019
1916-------------- 333,603
190,209
143,394
87,828
55,566
ROAD.—Consists of 50 miles of line botween 119th St. and Vlncennos
Road. Chicago, to Kankakee, 111. Standard gauge. 70-lb. T rails.
OFFICERS.— Pres. & M gr., O. G. Talmadge; Sec. & Treas., W. W.
Crawford.— V. 100, p. 1167; V. 104, p. 1387; V. 106. p. 1577.
CHICAGO NORTH SHORE &~m 7 l WAUKBE RR.
ORGANIZATION.— Incorp. in 111. and on July 26 1916 acquired tho
properties of tho Chicago & Milwaukee Electric R R ., sold at foreclosure
M ay 1 1916 (V. 102, p. 1718, 2077). V. 103, p. 664, 1687.
Franchises.— Owns right of way in Wisconsin as far as the city limits of
Milwaukee; franchise in Milwaukee expires Doc. 3! 1934. Owns right of
way In Illinois outside of corporate limits and to a considerable extont within
corporate limits; the remainder is covered by municipal franchises, several
being perootual.
Valuation.— In Nov. 1917 the Illinois P. U. Comrn. determined the fair
value of the co.’s physical property in Illinois to bo not less than $5 .100,000.
The original cost of tho property in both Illinois and Wisconsln'as shown by
the books was $13,91S,862. but tho original cost, of tho Illinois section alone
could not bo accurately ascertained. V. 105. p. 1897.
In July 1917 issued $885,000 6% serial notes to reimburse tho company
for capital expenditures made or to bo made subsequent to July I 1910.
In Aug. 1918 brought out an issue of $385,000 7% serial notes, dated June
15 1918, to retire $180,000 6%, serial notes which matured July l 1918
and to reimburse tho co. for capital expenditures mado or to bo made sub
sequent to April 1 1918. V. 107, p. 694.
On Sept. 8 1917 the 111. P. U. Comm. auth. tho co. to incroaso the rate
of faro in Illinois to 2 cents per mile. In July 1918 applied to tho I.-S. C.
Comm, for auth. to incroaso ticket fares from 2 to 2.6 cents por mile and
cash fares botween points in Illinois and Wisconsin to 3 cents per mile.
V. 107, p. 692.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
_________ See text
________
Stock $100,000_____________ _____
First M $10,000,000 g (S I.-/ 1910 5 g J-J
$4,060,000 July 1 1938
000, $500 S $100)__ c*tf I Interest payablo In N. Y. or Chicago.
c
Gon’I M $1,500,000 gold......... 1916 5%
460.000 Aug. 1 1930
Equipment notes gold ($ l,-f
1917 0 g J-J
136,000 Soo toxt
000 and $500)________ c*lln t. at Chicago Northorn Tr. Oo., Trustee.
Serial gold notes $885,000/
1917 6 g J-J
705.000 See toxt
($100. $500. $1.000) . _c*tf'C ont. S Comm. Tr. S Sav. Bk.. Chic., Trus.
c
c
Sorial gold notes $385,000/ 1918 7 g J-D 15
385,000 Soo toxt
($100, $500, $l,000)-_c*tf(C ont. & Comm. Tr. & Sav. Bk., Chic., Trus.
Stock.— Tho capital stock Is in the nominal sum of $100,000, which has
been made tho basis of tho following participation cortiflcatos of no par
value: (a) 50,000 Illinois part, certfs., bearing $5 dividends a year, cumu
lative, If earned, from Jan. 1 1918, tho div. on these cortfs, having priority;
(6) 58,000 Wisconsin part, certfs.. bearing $5 dlvs. a year, cumulative, if
earned. Trom Jan. 1 1918; (c) 62.000 common part, certfs.. bearing such
dividends as may be earned and declared. The stock will be hold by George
M . Reynolds. Samuel instill and R. Floyd Clinch as voting trustees. For
basis of exchange of bonds of old co. for certificates, seo V. 103, p. 664.
Bonds.— Tho 1st M. bonds are secured by a first lion on all the property
owned and by pledge as additional security of the entire capital stock of the
Chicago & Milwaukee Electric Ry. of Wisconsin, which owns the tor
mina! facilities in Milwaukee. $940,000 have been issued and are pledgod
as security for tho notes of 1917 and $370,000 for tho notes of 1918;
remaining $4,630,000 may be issued at par for not exceeding 85%
of tho cash cost of betterments, &c. Tho mortgago provides for a
maintenance, replacement and depreciation fund of 12% of annual
gross income for first five years, 14% for second 5 years, 16% for third
5 years and 18% for tho last 5 years, to bo expended for maintenance,
&c., or for retirement of 1st mortgage bonds. Tho 1st mortgago bonds
are callable as a whole or part on any interest date at 105 and interest.
Continental & Commercial Trust S Savings Bank, Chicago, is trus
c
tee. V. 103. p. 1031. $240,000 Gen. M . bonds have been canceled and
$480,000 are In treasury. The equip, notes mature $8,500 s.-a. July 1 1917
to Jan. 1 1927; secured by 15 steel passenger cars costing $200,000. Rod.
as a whole or In part at 10014 and Int. on any Int. dato on 30 days’ notice.
The sorial notes, datod July 1 1917, aro due $345,000 July 1 1919; $360,
000 July 1 1920. $180,000 1-yoar notes wore retired July 1 1918. Int.
payablo in N. Y. or Chicago. Call., all or part, upon 30 days’ notice, the
two-year notes at 100)4 and int. and tho threo-year notes at 101 and int.
for tho first two years of thoir lifo and at 100)4 and Int. thereafter. They
aro secured by deposit of $940,000 C. N. S. S Mil. RR. 1st M . bonds.
c
V. 105, p. 388. The serial notes of 1918 aro duo $125,000 Juno 15 1919,
theso being unsecured, and $260,000 Juno 15 1921, tho lattor bolng secured
by $370,000 1st mtge. 5% bonds. Red., all or In part, at 100 and Int. on
30 days’ notice. Int. payablo in New York or Chicago. V. 107, p. 694.
EARNINGS.—
Gross
Net
Other Int.,Depr., Balance.
Period Covered—
Earnings. Aft. Taxes. Income Amort.Ac. Surplus.
July 2 6 ’ 16 to Dec. 3 1 ’ 17.$2,291,582 $704,311 $5,025 $364,767 $$45,469
Year end. Dec. 31 1917.. 1,728,219 529,733
4,757
............................
Year end. June 30 1916..
991,634 308,471 ..............................................
Latest Earnings.— For 12 mos. end. M ay 31.
1917-18...............................$2,087,930 $532,631 $6,216
.............................
1916-17............................... 1.350,076 398.441
5,786
.............................
ROAD, &c.— Owns ana operates the electric railroad connecting Evans
ton, 111., and Milwaukee, Wis., with a branch line extending from Lake
Bluff, 111., to Area, 111., embracing 84.54 miles of road and 167.60 miles
single track equivalent. The principal communities served are Evanston,
Wilmette, Winnetka. Glencoe, Highland Park, Lake Forest. North Chi
cago, Waukegan and Zion City, HI., and Kenosha, Racine and Milwaukee,
Wis.; also Fort Sheridan and Great Lakes Naval Training Station. 11S
motor, combination, buffet, trailer, baggage aud express cars, and 102
freight cars, 20 service cars, 4 electric locomotives and 1 work motor.
OFFICERS.—-Chairman of the Board, Samuel Insull: Pres., Britton I.
Budrl; V.-P., R. Floyd Clinch; Soc.-Treas., W. V. Griffin.—
V. 104, p. 2342; V. 105, p. 388,1897; V. 106, p. 2449; V. 107, p. 401,692. 694.
CHICAGO RAILW AYS CO.
Unified Operation of Surface Lines.— See “ Chicago Surface Lines" for
details of Unification Ordinance of 1914, under which the lines of this
company aro operated Jointly with those of tho Chicago City Ry. as a
single system under the control of a Joint board of operation. As to plan
for unification of surface and elevated linos, see "Chicago Elevated Rys.”
ORGANIZATION.— Incorp. 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 RR. The pur
chase was mado under a modified plan of reorganization and readjustment
dated Oct. 15 1907 and outlined in V. 85. d . 1269; nee also p. 1570.
In Dec. 1912 purchased 6 miles of the Suburban RR. Inside the city limits
(V. 95, p. 1402) and Issued $22,554 bonds to cover cost.
Franchises.— On Feb. 5 1907 the City Council passed ordinances providing
for a settlement of the relations between tho city and tbo stroet railway
companies. V. 84, p. 338, 390. The franchises granted by the ordinances
S bpt ., 1918.]
ELECTRIC RAILWAYS
expire Feb. 11 1927 and were approved at the popular election held April 2
1907
On Oct. 10 1910 supplemental ordinance was passed expiring Feb.
1927, covering linos of Chicago Consol. Trac. properties. V. 91. p. 1025.
In the remarks concerning the Chicago City Hy. 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 1907, pages 1123, 1124 and 1125,
to which the reader Is referred for detailed Information.
The ordinance for tho Chicago Rys. Co. provides that the valuation of the
properties acquired shall be deemed and considered to bo $29,000,000 (the
value fixed by a board of expert engineers acting for the city) plus $1J79JB75
for expenditures from tho date of tho valuation on June 30 1906 to Feb. 1
1907, making total valuation ofproperties as recognized by ordinance
$30,779,875 as of Feb. 1 1907. With the expenditures already made, tho
valuation of road, equipment and franchises on ^.ug. 31 19i 8 was computed
All expenditures for reconstruction and extensions are being made under
the direct supervision of a board of supervising engineers headed by Mr
Blon J. Arnold, and the company Is required, under conservative restric
tions, to advance moneys for the construction of subways by the city
The expenditures for reconstruction and extensions. Including any contrl
buttons for subways, after Feb. 1 1907 are to be added to the value of the
properties recognized by the ordinance, together with 5% of such expendi
tures for brokerage. As compensation for Its services in construction
the company will receive an additional 15% of all expenditures for recon
struction and extensions, exclusive of amounts contributed for subways.
The company agreed to lower and reconstruct the tunnels under the
Chicago River at Washington, La Salle and Van ^ ur.® streets.
n
Riaht to Purchase by City.— Under the terms of the franchise, the company
agreed to waive all rights under previous grants, and gave the city an
option to purchase all of Its property for municipal operation at any time
prior to the expiration of the 2 0 -year franchise granted the company
by the ordinance. The price to be paid by the city to be $30,77J,87o.
the valuation of the properties February 1 1907. as above mentioned,
plus all expenditures after that date for reconstruction, extensions and addi
tions to the properties. Including any amounts advanced to the city for
the construction o f subways in the downtown business district. In case
the property shall not bo purchased, as above stated, prior to 1927. the
expiration of the franchise, the city covenants that It will not thon 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 corpora
tion of the city, or of purchasing 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 2 0 % more than the price above mentioned:
but the liconsoo shall not be roqulred to pay the additional 2 0 % If It shall
agree to pay over to the city all profits In excess of 5% on the Investment
In any evout, (1) the purchase price must be paid In cash and the first
mortgage bonds of the company will attach to such cash as a first lien In
the event of such purchase; or ( 2 ) such purchase (If made within said 2 0
years), must be consummated expressly subject to tho lien of tho 1st mtge.
bonds, but If made at tho explratlou o f said 2 0 years, tho amount thereof
must also be paid In cash.
. . .
, ,
, ,
Compensation to City.— Provision Is made for special compensation
to tho City of Chicago, but this compensation Is payablo only out of
the surplus earnings of the company after paying or providing for all opcrating expenses, including the charges for maintenance and depreciation
prescribed in the ordinance and 5% upon the valuation of the company a
property at which it may be purchased Dy the city for municipal operation,
as above stated. Of the surplus earnings so remaining, the City of Chicago
receives 55% and the company 45% . (See V. 99. p. 1831 for dispute with
city as to certain accounts).
,
..
Control by Trustees.— The trust Indenture securing the participation
certificates provides that until Aug. 1 1912 and to the full extent thereafter
which may be permitted by law until all of the consolidated mortgage bonds
of the company shall be fully paid and discharged, the directors of the
company shall bo elected by trustees, now consisting o f Messrs. Harrison
B. Riley, William C. Niblack, Abel Davis, Frank G. Gardner and Henry
J. Tansley, and provision Is made In the trust deed securing the 1st M .
bonds for the appointment of a permanent flnanco committee, now com
posed of Messrs. Henry A. Blair, Seymour Morris and B. A. Eckhart of
Chicago.
Aciuisllion of Chicago Consolidated Traction Properties.— On Dec. 27 1910
Judge Orosscup confirmed the sale of the Chic. Consol. Trac. Co. and Its
eight underlying companies on Nov. 30 1910 to Andrew Cooke and the
•ale by tho latter of all properties within the city limits to the Chicago Rail
ways Co. (V. 91, p. 945. 1253. 1511). pursuant to an ordinance passed
Oct. 10 1910 (placing valuation at $4,021,982). like In tenor, amendatory
and supplemental to ordinance of Feb. 11 1907 (V. 91, p. 1025, 1159)
See reorganization plan. V. 90. p. 1013; V. 91, p. 37. The lines outside the
city were acquired by tho County Traction Co. (now the Chicago A West
Towns R y.), which has no connection with the Chicago Railways Co.
On Nov. 1 1910 a deposit agreement was entered Into by tho holders of the
■ecurltles ol the Chicago Consolidated Traction and Its subsidiaries, provldlng for tho exchange of tho said securities for Chicago Rys. Co. Purchase
Money 4% to 6 % bonds and Adjustment Income 4% bonds, both dated
Jan. 1 1911 and maturing Fob. 1 1927. For description of bonds and terms
ot exchange, see V. 91, p. 1384, and compare V. 90. p. 1613; V. 91, p. 214.
Favorable Decision.— In Oct. 1912 the U. S. Circuit Court of Appeals
affirmed the decision of Judge ICohlsaat, dismissing the suit brought to have
the compromise franchise of 1907 annulled. V. 95. p. 1200.
Settlement of Yerkes Suit.— In April 1914 tho company arranged a settle
ment of the suit brought by tho Yorkos estate on tho guaranty or tho bonds
of the Chic. Consol. Trac. Co. by tho Union Trac. Co. V. 98. p. 1155.
Decision as to Regulation.— See “ Chicago Surface Linos.”
lfaa« Award by War Labor Board.— V. 107, p. 500.
Tho P. U. Comm, has auth. tho co. to issue $2,230,000 additional 1st M .
5% bonds for impts., &c. up to Sopt. 20 1918 thoso had not yet boon Issued.
STOCK AND BONDS— Date.
Interest. Outstanding.
laturtty.
Stock, $100.000...................
.
.......
Seo text. See text.
First mortgage (see text),
(1 9 0 7 5 F-A
$55,681,000 Feb 1 1927
($1,000) gold...........cA rtf {Int. at Harris Trust & Sav. Bk., Chic., Trus.
I or at Harris, Forbes A Co., New York.
Consol mtge, gold________ - t t 1907
6%
See text. Feb 1 1927
Bonds Covering City Lines o f Former Chicago Consol. Traction.
Purch-money M $6,000,000 g{ 1910
5 J-J
4.073,000 Feb 1 1927
($500 and $1.000)___ c*tfllllln ols Tr. & Sav. Bank. Chic., Trustee.
Adjust Inc M $2,500,000 gold] 1910
4 g May
2,500.000 Feb 11927
($100A$500)(non-cum)c* tfl Central Trust Co. or III., Chicago. Trustee.
Stock.—The capital stock of the company, which Is issued In the nominal
amount of $ 1 0 0 ,0 0 0 , has boon made the subject of a trust agreement, dated
Aug. 1 1907 and executed Jan. 25 1908, by and between the Chicago Rail
ways Co. and Messrs. Adolphus O. Bartlett, Chauncey Keep, Charles II.
Hulburd,Albert A. Sprague and Charles G .Dawes, as depositaries, and
Central Trust Co. or New York as custodian. Under this agreement
the stock serves as a basis for the Issue of the participation certificates,
representing In all 205.100 equal parts. Sorlos 1 cons sts of 30.800 parts.
Series 2 of 124,300 parts, Series 3 of 60.000 parts and Series 4 of 60.000 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. I 1908, and In
the distribution of capital to $100 for each said part. Seriesi 4 is entitled
to any remaining profits or capital distributed. V. 85, p. 1269.
Dividends on participation certificates Ser. 2 are limited to $4 on each cer
tificate so long as more than 50% of Serial G bonds remain outstanding,
and thereafter to $ 5 per certificate until the remainder of Series O bonds
have been 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
•Inking fund and of dividends on Series 1.
Bonds.— First mtge. bonds are Issued only to provide funds for rehabili
tation, extensions, Ac. They may be redeemed at par and accrued luterest
on any Interest day. Tho 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 tho board of
supervising onglnoers. $2,276,000 aro held In treasury. See full particu
lars of bonds, property, A c., in V. 8 6 , p. 545; V. 8 8 , P. 1430: 1619; V. 90,
p. 302; V. 93, p. 162. Bonds are listed on N. Y. Stock Exch. V. 103, p. 238.
The consolidated mortgage bonds consist of the following Sorlos A,
Issued, $17,403,800, of which $1,006,000 are In the treasury and can bo
issued only for acquisition of additional property; Serlos B, $17,164.
475. and Serlos O, $903,336. Series O bonds have sinking fund of $250.
000 pec annum, If earned, which began Aug. 1 1908. but cumulative until
27
paid. $1,196,000 Series A bonds have been retired. See particulars,
V . 80, p. 1223; V. 93, p. 1724. Of the remaining Series B bonds, $228,000 are
In treasury. $3,096,664 Series C bonds have been retired by sinking fund
and cancellation; $250,000 deposited in sinking fund Aug. 31 1918 for
purchase of additional bonds. Bonds o f three series bore int. at 4% until
Feb. 1 1912; thereafter 5% .
Purchase Money Mtge bonds bore Int. at 4% per ann. during first 5 yrs..
now 5% per ann. They are red. at par and Int. on any Int date.
Adjustment Income Mtge. bonds are red at par and Int. on any Int. date.
Interest Is payable only If earned and Is not cumulative. Payments of
4% each were made on May 1 In 1913 to 1918 Inclusive.
Interest on both purchase-money mortgage and adjustment Income
mortgages payable at company's office or at agency of company in Chicago.
D IV ID E N D .— An Initial dividend of $4 was paid Nov 15 1908 on
Series 1 participation certificates. On Sept. 1 1909 $ 8 was paid on Series 1
certificates. None to Oct. 1912. when $ 6 was paid. In Feb 1913, $ 6 ;
May. $6 ; July, $6 ; Aug.. $4. In 1914, Feb.. $4. Aug.. $ 8 , being full pay
ment of all arrears. Feb. 1915 dlv. of $4 was paid June 5 (V. 100, p. 1671).
The Aug. 1915 div. of $4 was paid Sept. 1 1915- In 1916. Aug., $8 . In
1917, Aug., $8 . In 1918, none (see V. 107, p. 82). In Feb. 1914 Initial
div. of $2 per share was paid on Series 2. In 1915, Juno, $2. In Feb.
1917 52.
ROAD.—Comprises 582.45 miles ot track (Including 128 miles of the
former Chicago Consolidated Traction Lines).
EQUIPMENT —Operates 1,907 double-truck •pay-as-you-enter” cars.
REPORT.— The annual report for year ending Jan 31 1918 will be found
In V. 106, p. 1568. The combined results of the "Chicago Surface Lines’ ,
for tho year wore: Gross, $35,114,638; operating expenses, $23,101,696:
residue receipts, $12,012,937.
Income Account for Years ending Jan. 31
Share of *Adjust- Int., 5% . B a l a n c e , -------Of which to-----Res. Reels. meats.
on Inv.
Divisible. City .55% . Co 45%.
'17-'18.$7,207,702 D r. 363,206 $4,418,136 $2,421,421 $1,331,782 $1,089,639
’ 16-’ 17- 7,827,668 Dr. 290,685 4,319,783 3.217.200 1,769,460 1,447,740
'15-T 6- 6.283,149 Dr. 20.327 4,230,975 2,031.847 1,117,516 914,331
* Applicable to previous yoars.
Income Statement (Non-Partnership Account) for Years ending Jan 31.
1918.
1917.
1916.
Chicago Railways. 4 5 % ......................... $1,089,639
$1,447,740
$914,331
5% on investment__________________ 4,418,136
4,319,783 4,230,975
Miscellaneous interest_____________
146,585
190,846
168,247
Gross Income_____________________ $5,654,360
Deduct—
Total Intorost on bonds______________$4,765,584
Sinking fund resorvo account_______
250,000
Fed’ l income tax on int. coupons____
60,000
Corporation expond. & adjustments.
168,800
$5,958,369 $5,313,553
$4,746,786 $4,625,950
250,000
250,000
30,000
17,828
153,568
89,203
Net income for Interest, A c.................
$409,976
$778,015
$330,573
OFFICERS.— Chairman of Board of Directors and Pres., Henry A. Blair;
Vice-Presidents, Soymour Morris and J. B: Wilkie; Sec., F. L. Hupp;
Treas., M . B. Orde.— V. 106, p. 601. 1461, 1568; V. 107, p. 82, 500.
C H IC A G O & W E S T T O W N S R A IL W A Y C O .
F or statement o f this com pany see the “ E lectric R ailw ay Supplem ent”
______
o f M a y 25 1918.
E V A N ST O N R A IL W A Y C O .
O R G A N IZ A T IO N .— Incorp. Sept. 20 1913 In Illinois to take over the
lines In Evanston, III., formerly owned b y the C ounty T raction C o . (now the
Chicago A West Towns R y.)
Franchise.— T ho com pany was granted a new 20-year franchise.
STO CK AND BONDS—
Date.
Interest. Outstanding. Maturity
$500,000 ....................
S tock. $500,000 ($100)............................................
First mtge bonds, g o ld ____c * / 1913
6 g P-A
290,200
1933
Redeem at 103 and in t____/I n t . at M erch. Loan A T r C o .,C h ic ., T ru s.
General mortgage bonds-----------------------------106.400 -----------------Bonds.— Sinking fund o f 2% o f outstanding bonds began 1917.
E A R N IN G S .— For years end. Dec. 31:
Year ending
Gross
Exp.. Taxes, Net
Inter- Balance,
Dec. 31—
Earnings. D epr.A c. Earns.
est.
Sumlus.
$121,344 $52,863 $21,895 $30,968
1917.................................... $174,207
1910.................................... *165.278
118,246
47.032
21,654 25,378
R O A D .— Length o f single track. 10.34 miles. 85-lb. rail. Gauge, 4 ft.
844 In.
O F F IC E R S .— P ros., Clem ent C . Smith, M ilw aukee; V .-P ., J. P.
Pulliam . M ilw .: V ice-Pros., A Gon. M g r., Charles F. Speed. E vanston ;
Sec. A T reas., G oo. J. Chaffee, M ilwaukee; C om ptroller, II. G. M a ck a y ,
M ilwaukee.
______
C H IC A G O
ELEVATED
R A I L W A Y S — A voluntary
association
similar to Massachusetts E lectric Companies.
Unification o f Surface and Elevated Lines and Construction o f Subways, A c.
On Aug. 14 1918 the C ity C ouncil passed the proposed ordinance for the
unification o f surfaco and elevated lines and fo r tho construction o f sub
ways, which is to be subm itted to a referendum v o te o f tho people on N o v .
5 1918 and, if approved by them , application will be made to the State
Legislature for tho necessary enabling legislation. F or digest o f this
ordinance seo “ C hroniclo” o f Sopt. 28 1018. T ho roads included are
tho C hicago Railways C o ., C hicago C ity Railway o .. Calum et A South
C hicago Itv. C o ., Southern Street Railway C o ., M etropol. W est Side E lov.
R R . C o ., Northwestern Elov. ItR. C o .. South Side Elev. R lt. C o . and the
Union C onsolidated Elov. R y. C o. T h o n o w . ordinance provides for a
north and south subway system , an east and west subway system and
vast im provem ents and extensions o f surface and elevated linos; $70,
9 43,020 is tho city purchase price set fo r the elevated roads as o f June
30 1916 with additions to or deductions from capital account to date o f
effective date o f ordinance. T he new com pany is to bo managed b y a
board o f nine trustoes. T ho following are to constitute tho first b oard:
E . D . H albert, Pros. M erchants Loan A T rust C o .: Harrison B. R iley,
Pros. C hicago T itle A Trust C o .; George G . Tunnell, Asst, to the Pres,
o f tho Atchison T opeka A Santa Fe R R . and Chainnan E xecutive C om
m ittee C hicago Bureau o f Public E fficiency: John F. Smulski, Pres. N orth
western Trust A Savings Bank: Joseph E . Otis, V .-P . A A cting Pres.
Central Trust C om pany; John W . O ’ Leary, Pres, o f an iron com pany and
form er Pres, o f tho Chicago Association o f C om m erce; Henry A. Blair,
Pros. C hicago Railways C om pany and Chainnan Board o f Operation,
C hicago Surfaco Lines; Leonard A. B usby, ITes C hicago Surface Lines
and Pros. C hicago C ity Railway C om pany; Britton I. B udd, Pros. C hicago
Elevated Railroads.
On A pr. 19 1917 tho 111. Supremo C ourt upheld tho right o f the State
Public Utilities C om m , to regulate street car service In C hicago regardless
o f tho provisions o f tho contract ordinances o f 1907, between tho C hicago
C ity C ouncil and tho surfaco lines.
At midnight N ov. 2 1913 began through-routing north and south elevated
trains, using tho L oop for that purpose, and established free transfer sta
tions between said trains and trains o f M etropolitan and Oak Park cos.
As the project for uniting under one control the elevated railway and sur
faco roads o f C hicago was not carried out bv July l 1914 the C om m on
wealth Edison C o. purchased from the syndicate which underwrote the
prof, sharos approxim ately 200,000 shares o f C hic. El. com . stk. for about
$6,000,000 In accordance with the terms o f an agreement said to have been
ontored Into In 1911.
„ .
.
.
.
Application to Carry Freight.— In Feb. 1918 the elevated and surface
lines appiiod to tho C hicago C ity Council for auth. to carry over their city
linos freight which m ay bo brought to them from Interurban lines surround
ing tho city . V. 106, p. 821.
O R G A N IZ A T IO N .— Organized in 1911 to acquire stocks, bonds and
other securities o f the M etropolitan West Side Elev. R y.. Northwestern
Elev. R R . and tho South Side Elev. R R . ($21,202,312 being offered for the
$36,294,900 stock o f those com panies— see offers In V. 92. p. 1498. A ll
tho stocks have been turned In, a small remnant o f Northwest L pref. being
bought In August 1913; V. 97. p. 728); also. If it so elects, the stocks o f the
Union Consol. Elov. R y.. Chicago A Oak 1 ark Elev Ry. Chicago A Oak
’
Park Elev. RR. and Chicago A Elmhurst R y .. which companies are con
trolled by the afore-m entioned com panies. T hese roads operate about
189.54 miles o f track
In July 1914 the National C ity Bank offered the $14,000,000 gold notes
(V . 98. p. 1992). the proceeds o f which, together with the sale o f $7,000,000
10-yr. 6 % debentures and $12,500,000 bonds o f the Northwestern Elev.
R R . were used to retire the $30,000,000 3 -yr. notes which matured July I
1914, and to provide working capital.
28
ELECTRIC RAILWAYS
[Vol . 107.
Decision.— On Apr. 24 1914 the Supreme Court affirmed the decision of
Dividends.— An Initial dlv. of 1% was paid on nref. Oct. 18 1909 and 1%
Judge Scanlon o f the Circuit Court (V. 97, p. 1425) and dismissed the suit quar. to April 1911; none thereafter to March 1912. when 2% was paid.
o f State Attorney lloyne against the Met. west Side, South Side and Union Dlvs. not now reported, as entire stock Is owned by Chicago Elevated Rys.
elevated railroad cos., alleging that they violated their State charter by Is
ROAD.— Miles of single track: Owned. 40.64 m.; operated under con
suing watered stock.
tract, 16.64 m.; total, 57.28 m. (of which 7.62 m. side track). Right of way
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity• Is all ownod In fee except at street crossings.
Under an operating agreement with the Chicago Milwaukee & St. Paul
Common, 250.000 shares__________
_______ 250.000 shs. __________
Railway Co. made In 1907, this company’s service was extended May 16
Pref. 160,000 shares, 6 % c u m _ ____
Q-M
160.000 shs. See text.
2-yr gold notes (closed issue)/ 1914
6 g J-J
___________ July _____
$14,000,000 ___ 1 1919 1908 to Evanston over the Evanston Division of the former road. Ser
($1,000), $14,000.000_ c*(llllnoIs Trust A Sav. Bank, Chic., trustee. vice on new track elevation to eliminate grade crossings was commenced
_
Debentures $7,000,000 ($100/ 1914
6 g J-J
7.000.000 July 1 1924 Jan. 6 1916 on this division. Extension to Wilmette opened April 1912.
AH track opor. (incl. loop), 61.28 miles. 80-lb. T . rails. 230 motor cars,
and $1,000)--------------- c* tflln t. at National City Bank, New York.
202 coaches and 4 miscellaneous cars.
Equip tr certfs gold Ser “ A " / 1914
5 g F-A
1,640.000 Seo text.
OFFICERS.— Samo as for Metropolitan West Sido Elov. R y.— V. *9,
do
do
Ser ” B” 1 ___
______
550,000 See text.
p. 1131; V. 100, p. 230, 399, 1079, 1350; V. 105, p. 2273; V. 107, p. 1004.
guaranteed by endorsem't./Commercial Tr. Co. o f Phila.. Trustee.
Notes payable.....................................
.............
1,300.000 __________
(a) Union Elevated R ailroad.
Stock.— Com. and pref. shares expressed at par value of $100 each. The
Is used by all the Chicago elevated roads and Is ownod by Northwestern
pref. stock Is redeemable at $ 1 0 0 and accrued dividends.
Elevated R R .; receives He. for each passenger carried, besides all expenses
Notes — Pending the formation o f a concrete plan for the unification of for operating, repairs and taxes. Franchise expires In 1946.
surface and elevated lines and appropriate municipal action In the matter,
BONDS—
Date.
Interest. Outstanding.
Maturity.
the holders of $13,601,000 of the $14,000,000 5% notes duo July 1 1916 IstM .$5,000,000,g($l,000)cpt 1895
5 g A-O
$4,472,000 Oct 1 1945
consented to extending same to July 1 1919 at 6 % interest, with a cash
Interest at Chase Nat. Bank, N. Y ., and 111. Trust A Sav. Bank, Chicago.
payment of $15 in respect of each $1,000 of extended notes (to provide which
Bonds.— Of the $5,000,000 bonds Issued, $528,000 are deposited as se
the trustees borrowed $1,300,000, giving their note therefor). In addition, curity for the $12,500,000 Northwestern Elov. 5s.
the value o f the security for the notes was materially Increased and an agree
ROAD.—
is
(80-lb. rails),
ment made with the Commonwealth Edison Co. whereby all claims for and runs on Tho loop to 2.00 miles in length, double-tracked Fifth Ave.. to
Lake St.
Wabash Ave.,
power supplied to the railroad cos. after June 30 1916 and until maturity of Lake St. Road opened Oct. 10 1897. to Van Buren St., to
Trains of the Chicago Oak
the extended notes will be assigned to a trustee and will be paid only If and Metropolitan West Side. Northwestern Elevated RR. and ASouth Park,
Side
as other floating debt of subsidiary cos. (except capital debt) Is not increased
In case other collateral securities pledged for the extended notes shall upon operate over the loop. Northwestern Elev. also owns .15 mile of double
from
loop
A
to
sale prove Insufficient to pay such extended notes In full, the said power track South connection withwhichat Van Burenthe State streets 97. connection
Side El. R R ..
is leased to
latter. V.
p. 522.
claims then unpaid will be placed on a parity with the extended notes. V. with
(3)
South Side Elev. R R .— (‘ 'Alley Elevated” ).— An electric elevated
102, d . 2341; V. 103, p. 578. The notes are now secured by pledge o f sub
stantially all o f the stock o f the Northwestern Elev. Ity., the Met. West road.
ORGANIZATION.— Successor January 1897 to Chicago A South Side
Side Elev. Ry. and the South Side Elev. R R .. having a total par value of
$36,292,500, and notes and claims against these companies aggregating R. T . RR. (foreclosed per plan V. 63, p. 1158). July 31 1900 the Appellate
$1,070,000. Redeemable at par and int. on any Int. date on 30 days’ no Court sustained the validity of the foreclosure (V. 71, p. 236). and on Feb.
tice. Int. payable in N. Y. or Chicago. Int. at rate of 5% has been 21 1902 that decision was concurred In by the State Supreme Court. V. 74,
p. 477. Franchise expires March 26 1938. Leasee the Chicago Junction
paid on the unextended notes.
Deb. notes are red., all or any part, when drawn by lot at par & int. on any R R ., which see below.
Application for Higher Fares.— Seo Metrop. West Sido Elov. R R . above.
Int. date up to and Incl. July 1 1919, after that at 102H on 4 week’s notice.
V. 99, p. 195. The equip, trust as above Is Joint obligation o f the Metrop.,
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Northwestern and South Side Elev. cos. and not of the Chicago Elevated Stock, $10.231.400.............................
.............
Q-M
$10,231,400
Rys. The Series " A ” certificates are due in semi-annual Installments from First mortgage. $8,000,000,1 1904
4 H « J -J
8,000.000 July 1 1924
Feb. 1 1917 to Aug. 1 1926. $102,000 each Fob. 1 and $103,000 each Aug. 1
gold ($lTOOO)________ c * tf/I n t . at 111. Tr. A Sav. Bank, C hic., Trustee.
They are guar, by end. on each certif. by the Met. Wist Side Eleve.. North Equipment trust certfs.— See under Chicago Elevated Rys.
western Elev. and the South Side Elev. V. 100. p. 53. $410,000 rotlred.
Bonds.— Are subject to call at 105 and Interest
Dividends.— Seo “ Electric Railway” Section for May 1918. Dividends
Series’ ’ B” mature $110,000 semi-annually from Feb. I 1927 to Fob. 1 1929.
Dividends.— On pref., initial div.— 1H % — paid Dec. 1 1911. In 1912 not now made public, as entire stock is owned by Chicago Elevateu Rys.
and 1913. 6 %. In 1914. March. 1H % : June. 1H %
None since.
REPORT.— See Joint statement under Chicago Elev. Rys. No separate
RE PO RT.— For year ending June 30 1917, in V. 105, p. 2269:
reports now made for subsidiary cos.
ROAD.— Owns elevated road In operation In Chicago upon a purchased
Combined Earnings (Inter-Company Rentals Deducted).
and
June 30
Gross
Net
Other
Interest,
DiviBalance, right-of-way from Congress St. to Jackson ParkApril to Englewood. Elec
was
1898.
Year—
Income.
Earnings. Income. Taxes, Ac.
dends.
Surplus. tricity cars, Introduced as motive power late In 16.24 miles of Operates 430
motor
52 coaches and 14
On
structure has
1916-17-S9,289,91.3 $4,465,427 $151,589 $3,249,996 $1,176,345 $190,675 a total of 36.50 miles of single mlsc. cars. lino incl. 6.22 m. leased. Also
track main
1915-16. 8,436,008 4.099.947 135,693 2.969,522 1.135,543 130,576
side-track,
46.16 miles.
1914-15- 8,045.264 4,174,958 117.905 2.888.652 1,105.373 298,837 has 9.66 miles of Same as for making total track Elov. R y.— V. 93, p. 528;
OFFICERS.—
Metrop. West Side
Income Account of Chicago Elevated Rys. Collateral Trust.
V. 105, p. 2273; V. 107, p. 1005.
Oal.
-IncomeGross
Interest A Preferred
Bal..
(a) C hicago Ju n ction RR.
,
Year
Dividends. Interest
Income.
Expenses. Dividends. Surp.
ORGANIZATION.—Organized
1916 ..$1,218,991 $153,483 $1,372,475 $1,248,674
.............$123,801 RR. to build lines to connect that In the Interest of the South Side Elevated
company's track with the Stock Yards.
1915 - - 1.027,045 125,585
1.152,630
1,146,213
_______
6.417 Only a nominal amount of stock has been Issued ($50,000), which Is held In
1914 - . 1,109.798 718,251
1.828.049
1.343.351 $480,000
4,698 trust for the South Side Elevated In case that company should at any time
OFFICERS.— Pres, o f constituent cos., Britton I. Budd; Sec., W V
wish to absorb It. Is leased to the South Side Elevated for 50 years (with
Griffin: Comp., Edward A. Brion.
right to purchase at cost within 20 years), rental being Interest on bonds,
TRUSTEES.— William G. Beale, Samuel Insull and Sam’l McRoberts.
taxes, Ac. Franchises are without limit.
EXECU TIVE C O M M ITTE E .— Samuel Insull, VV. A. Fox and J. n .
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
Gulick.
k ______________________
________
See text.
__________
GOVERNING C O M M ITTE E .— Samuel Insull, Gilbert E. Porter. S to cmtge, $2,327,000. gold!_____ 4 g M-S
1st
1905
$2,327,000 Mch. 1 1945
Britton I. Budd, J. II. Gulick and W. A. Fox.— V. 106, p. 821.
($1,000). guar p & I___ c*iFirst Trust A Sav. Bank, Chicago, Trustee.
Bonds.— Are subject to call at 105 and Int. in event of consolidation with
(1) M etropolitan West Side Elev. Ry.— An electric road.
ORGANIZATION.— Organised in Illinois Jan. 16 1899. Successor on South Side Kiev., this Issue of bonds Is to be retired. V. 80, p. 871. Bonds
Feb. 3 1899 (per plan In V. 87, p. 126) to the Railroad Co. sold under fore are guar., p. A 1.. by Chic. June. Rys. A Un. Stk. Yds. Co. See V 82. p. 608.
ROAD.— Consists of an elevated road (from junction with South Side
closure on Jan. 4 1899
Franchise expires April 7 1942.
Fares.— In Sept. 1918 this co., tho Northwestern Elevated Co., the “ L” at 40th Street) to the Stock Yards, and a loop around the same, 3.75
South Side Elevated RR. and tho Chicago A Oak Park Elevated RR. miles. Was completed In M ay 1908.
applied to tho 111. P. U. Comm, for authority to increase fares from 5 cont3
OFFICERS.— Pres., A . E. Rawson; V .-P., II. E. Poronto; Sec., Thorn
to 7 eents. V. 107, p. 1004.
hill Broome; Treas. A Asst. Sec., J. W. Austin; Asst. Treas., F. D. O ’Con
STOCK AND BONDS—
Date.
Interest. Outstand’g. Maturity .A c nor; Aud., O. G. Chaco.— V. 87. p. 346.
Common, $7,500.000________ _____
_______
$7,462,800 See text.
CHICAGO A OAK PARK ELEVATED RR.
Pref, 5% non-c, $9,000.000..................................
8.707,500 See text.
Proposed Ordinance Embodying Unified Operation of Surface and Ele
First mortgage, $10,000.0001 1898
4 g F-A
10.000,000 Aug 1 1938
vated Lines.— Seo Chicago Elevated Rys. above.
($1,000). gold-----------c * tf (Cent. Trust C o., N . Y .. and G. Sherman, Tr
Receivership.— On Nov. 13 1911 Judge Kohlsaat appointed Samuel
lint, at Cent. Trust C o., N. Y. and Chicago
Ext mortgage. $5,000.0001 1901
4 g J-J
a5.000,000 July 1 1938 Insull receiver for the Railroad. V. 93. p. 1386. On Dec. 20 1911 re
($1,000), gold, red at 105]Northern Trust C o.. Chicago. Trustee, ceiver was authorised to Issue $2,000,000 receiver’s certificates for Improve
on any Interest day on 4 1 Interest at company’s office In Chicago, or ments. V. 93, p. 1785. In Jan. 1912 Francis V. Dobbins of Rahway.
N. J., was appotated receiver for the Ralhcay Co. V. 94. p. 123
weeks notice________ c * tf I Central Trust C o.. New York.
Foreclosure.— Judge Kohlsaat In the U. S. District Court at Chicago, on
Equipment trust certificates— See under Chicago Elevated Railways.
July 17 1913, ordered the foreclosure *alo of the railroad. The amount
a $567,000 Included in this amount Is held by Chic. Elev Ilya. coll, trust
The extension mortgage of 1901 covers the extension as a first lien, found to hedue was $6,080,984 Up to Sept. 15 1918 road had not been sold.
Sale of Securities.— On June 20 1912 Geo. II. Church bid In for $256,000
also 6 8 cars, a 3,500 h. p. engine and the now down-town terminal; the
bonds also cover the rest of the property as a socond lien, subject to the tho following securities formerly ownod by the Chic. A Oak Park Elev. Ry.;
$859,(W Lake St. Kiev. RR. 5% Inc. bonds: demand notee of Chic. A
O
$10,000,000 first rntge. V. 72. p. 1080: V. 75. p. 29; V. 8 6 . p. 1160.
Oak Park Kiev. R R . variously dated from April 23 1904 to June 15 1910,
Has guaranteed $498,000 bonds of Union Consolidated Elevated.
aggregating $1,989,528; $5,850 Lake St. Elev. RR. Inc. bonds scrip. At
LATEST EARNINGS.— See Joint statement under Chic. Elev. Rys.
Sheriff’s sale In New York on Jan. 26 1912, Mr. Church bid In for $2,000
No separate reports now made for the subsidiary companies.
DIVIDEN DS.— For dividend record see "Electric Railway” Section for all title of th eR y .C o. In the foregoing bond and notee. also some $4 7 3 ,0 0 0
M ay 1916. Dividends not now reported as all tho stock is owned by additional notes of the Railroad Co., and In certificates for 91.651 17-40iihares of Okie. A Oak Park Elev. RR. V. 94. p. 1763.
Chicago Elevated Rys.
The Chic. A Oak Park Elev. Rg. was Incorp. In New Jersey on April 22
ROAD.— From terminal station at 5th Ave. woeteriy about 6)4 miles,
with branches: total length o f road (including Douglas Park branch ana 1904 to hold the securities of the Chicago A Oak Park Elevated Railroad
Co., formerly the old Lake Street Elevated RR .. reorganised per plan In
extension and Garfield Park branch), 23.65 miles. Miles o f single track
owned, 45.29; under contract. 6.53; total operated. 51.82 miles of track, V. 77,m. 1874: V. 78. p. 1392. Northwestern Elevated owns 51% of stock.
exclusive of 7.77 miles of side tracks. Standard gauge. Right o f way Is Franchise expires In 1930.
Application for Higher Fares.— Sco Metrop. West Sido Elov. RR. above.
owned In fee. 286 motor cars, 283 coaches and 15 miscellaneous.
On March 11 1905 the cars o f the Aurora Elgin A Chicago Ry. began
STOCK AND BONDS—
Date. Interest.
Outstanding. Maiurtty.
operating over this company's linos to the 6 th Ave. terminal under a traffic Stock ...................................................................... *10,000.000 ...................
agreement, the Met. West Side, in turn, securing the right to the territory Lake St El IstM , $5,000,000. ( 1893 5 J-J
4,432.000 July 1 1928
west o f the 52d Ave. terminal on the Garfield Park line as far as the Dee
guar by N W El------------ tf( American Trust A Sav. Bank. Chicago, and
Plaines River, about 3.3 miles of double track. V. 79, p. 1701.
I Central Trust of Illinois, Chic., Trustees.
OFFICERS.— Chairman o f Board, Samuel Insull; Pres., B. I. Budd
Income rntge, $1.000.000...............
5%
128.600 ...................
Sec. & Trcas., W. V. Griffin- Aud.. T . B. McRae: Gon. M gr.. E. C. Noe. Equipment notee_____________
184.000 __________
Office, 72 West Adams St., Chicago.— V. 105, p. 2272; V. 107, p. 1004.
Real estate mtges_____________
6,862 __________
Receiver’s certra, $2,000,000.................................
1,206.000 ...................
(2) Northwestern Elevated RR.
Bonds.— First mortgage bonds assenting to reorganization were stamped
ORGANIZATION.— Incorp. in Illinois. Road was formally opened
for business on May 31 1900. V. 70. p. 1049. Franchises extend beyond subject to call at 105 and Int. on anv Interest date. The old Income bonds, .
with the exception of $128,600, are held In treasury of the railway companv.
the maturity of the bonds.
ROAD.— Owns a double track elevated railway from Fifth Avenue arid
In Sept. 1901 the Union Elevated RR. was acquired. The Chicago Ele
rated Rys. provided the cash to take up the $18,000,000 Northwestern Lake Street to 62d St. and Lake St., with spur down Market St. to Madison
St. Trains began running around the loop In Oct. 1897. Chicago A
Elevated 1st 4s which matured Sept. 1 1911.
Harlem forms an extension comprising 4 miles more of double track. Total
On Aug. 21 1911 stockholders authorized $25,000,000 1st M. 5s (V. 93
p. 527). None of these bonds sold at the time, but In July 1914 $12,500, single track. 22. 51 miles. 186 passenger cars.
REPORT.— For years ending June 30 for Railroad Co.
000 were sold (V. 98, p. 1920) to a syndicate o f bankers and subsequently
Year—
Gross.
Net.
Other Inc. Charges.
Deficit.
disposed of by them
$4,496 $484,221 $220,603
Application for Higher Fares.— Seo Metrop. W. S. Elov. RR. above. 1916-17........................$93.8,288 $259,122
1915-16 ....................... 873,267
222,310
4.198
449.967 223.459
STOCK AND BONDS—
Date.
Interest. Outstanding
Maturity
1914-15 ....................... 843.682
240,288
4.362
433.845 189,195
Common stock, $5,000.000..............
. ..........
$4,946,400 __________
1913-14 ....................... 878.805
249,224
3.714
430.749 177.811
Prefstk, 5% n -c.$1 6 .0 0 0 ,0 0 0 .___
M-S
4,944.400 See text.
229.328
4.313
399.956 166,315
1st M $25,000,000 red as a? 1911
5 g M-S
12.500.000 Sept. 1 194) 1912-13 ....................... 862.737
RECEIVER.— Samuel Insull.— V. 99^p. 969, 1213; V. 105, p. 2271.
whole at 102 A int on 30{1H. Tr. & Sav. Bk., trustee, under mtge.
days’ notice ($1.000).c * tf lCentral Tr. C o., N. Y .. trustee und. sup. M
UNION CONSOLIDATED ELEVATED RY
Equipment notes------------ tf ------8%
16 000 N o v i 1918
Proposed Ordinance Embodying Unified Operation of Surface and Ele
Equipment trust certificates of 1914— See under Chicago Elevated Railway- vated Lines.— Sco Chicago Elovatcd Rys. above.
The 1st M . bonds are an absolute first lien. subj. only to the Union EIov
ORGANIZATION.—Formed In 1896 and built from Union Elevated at
R R . 1st M. 5s; also secured by deposit of $528,000 Union El. 5s. The re 5th Ave. west to Market St.; thence to Metropolitan W. S. III.; total,
maining $12,500,000 Northwestern bds. may be issued only for cash cost of l -5 mile o f track; is operated by the Metropolitan West Side El. Franchise
betterments, extensions and add’ns acquired after July 1 1914 under certain expires Oct. 7 1945.
conditions. Sinking fund of 1% outstanding bonds payable annually
On July 7 1914 Judge Wludes In the Circuit Court held that State Attor
beginning Sept. 1 1919.
ney Hoyne should be prevented from proceeding against the company on
LATEST EARNINGS.— Seo Joint statement uuder Chicago Elev. Rys. the ground of overcapitalization. See Item under caption of “ Chicago
No separate reports now made for the subsidiary companies.
Elevated R ys.” In V. 97. d . 1425. and also see V. 99. p. 199.
ELECTRIC RAILWAYS
oEPT.j 1918.]
8 TOOK AND DONDS—
Date. Interest.
Outstanding. Maturity
51,000.000 . . . . . . . . . .
Stock _______ _________ _ __ . . . . __ —
Series "A ’’ 1st mtge, gold,l 1898 6 g M-N
453,000 N ov 1 1938
g u p A1 by Met W S E L cp t/G . Sherman. V .-P .C en .T r. C o.. N .Y ., Trust
Mortgage $1,000,000, of which $500,000 series " A ." V. 63, n. 1065
Of the $500,000 Series "A ” bonds. $463,000 are outstanding (of which $48,
000 held by Chicago Itys. Coll. Trust); $45,000 are In treasury and $2,000
^ O F FIC E R S .— Pres., Samuel Insult; V .-P .. Gilbert E. Porter; Sec. and
Treas., W. V. Griffin.— V. 99. p. 199.
C IN C IN N A T I, O H IO .
CINCINNATI 5c COLUMBUS TRACTION CO.— A trolley road.
Receivership.— The Union Sav. Bank & Trust Co. or Cincinnati, trustee
of both mortgages, was on April 12 1913 appointed receiver of company.
Hoods and Inability to meet maturing bond issuee being assigned as the
cause. V. 96, p. 1156. Interest on both mortgages Is In default. On
Dec. 19 1916 Master Commissioner Richard O. Swing offered the company’s
assets for sale, but received no bids.
ORGANIZATION.— Incorp. Jan. 21 1903. Franchises expire In 1930.
For decision of U. S. Supreme Court handed down on N ov. 11 1912. hold
Ing that the B. & O. Southwestern and the Norfolk A Western (steam)
roads cannot be compelled to grant physical connection with the company,
see V 95 p 1402
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common, $1,250,000 ($100).................................
$979,500 ...................
Pf 6 % cum $1,250,000 ($100)...............................
925,500 ---------------First mortgage. $6M.000. / 1905 „ 6 g J-J _
600.000 July U » 1 3
--M int.. at Union Sav. Bk. A Tr. C o., Oln..Trust.
'
'
'
gold.
Second mtge no tee. $250,000/ - - - 5%
148.000 Jan 1 1914
lin t, at Union Sav. Bk. A Tr. C o.. Cincinnati
Bonds.—The denominations of the first mortgage bonds are, respectively,
6 $50,000: 30 $5,000; 100 $1,000; and 100 $500.
They can be called at
any time at par. Bonds originally matured July 1 1909 but were extended
for 2H years. V. 89. p. 103. 720. On Jan. 1 1912 they were again ex
tended 18 months. Secoud mtge. notes Tell due July 1 1912 but were
extended for 18 months to Jan. 1 1914.
EARNINGS.— For 12 raos. ending Dec. 31 1917, gross, $150,571; net,
$11,977. In 1916, gross, $146,760; net, $41,307.
ROAD.— Operates 54 miles of track between Cincinnati and Hillsboro,
put In complete operation In Feb 1906. Standard gauge, 70 lb T rail.
OFFICERS.— Pros., II. II. Hoffman; V.-P., C. J. Goldberg; Aud.,
U. II. Frost. V. 103, p. 665, 1980; V. 104, p. 72; V. 107, p. 1099.
CINCINNATI GEORGETOWN & PORTSMOUTH RR.
O R G A N IZ A T IO N . — Formerly a narrow-gauge steam road, but now
operated by both electricity and steam . Under Ohio law remains a steam
road. Has no franchise limitations and Is located on private right-of-way.
In Sept. 1911 outored Into a management agreement with tho Felicity &
Bethel RR. and the Ohio River & Columbus RR. (a steam road). V. 93.
p. 796- On Jan. 1 1914, howover, management cliangod and tho Ohio
River A Columbus was again divorced from the other two roads. Has
contracts to supply electric current for municipal distributing systems of
Georgetown and Bethel, Ohio.
Fare Decision.— On Feb. 17 1914 the Ohio Supreme Court sustained the
right of this company and tho Interurban Ry. A Terminal Co. to charge
1 0 cents from Cincinnati to California (Ohio) aud Coney Island (Ohio),
both now forming part of Cincinnati V. 98. p. 610.
On Jan. 15 1918 tho Inter-State Commerce Comm. auth. an Increase of
15% in passenger fares.
STOCK AND BONDS—
Date. Interest.
Outstanding.
Maturity.
Stock. $1.500.000...................................................
$1,500,000 ...................
1st mtge. $1,000,000. gold/ 1902
5 g J-J
1,000.000 Jan 11932
($1,000)...........................c*iInt.at Union Sav. Bk.ATr.,Cln..Tr.,AlnN.Y
Kel A Beth 1st M $100,000, g / 1905 5 g A-O
100,000 Oct 1 1935
_
($1,000). not callable_ c*fln t. at Union Sav. Bk. A Tr., Oln., Trustee.
ROAD.— Operates 53.7 miles from Cincinnati southeasterly to Russelvlllo. Including branches of 3.5 m. to Batavia and 1.5 m. to Coney Island.
The Felicity A Bethel has 8.5 m of track between the points named In Its
title.
OFFICERS.— Pres., A Troas.. nenry A. Halgh; V.-Pros.. W. J. Thom
• on; Sec., A. L. O. Henry; Gon. M gr., A. II. Elfner.— V. 106, p. 295.
3
CINCINNATI LAWRENCEBURG & AURORA ELECTRIC STREET
R R .— A trolley road.
Receivership .— The company having sufferod damago from the 1913 flood
Judgo Warner at Cincinnati on Juno 23 1913 appointed F. B. Shutts, of
Florida, receiver on application o f Pres. J. C. Ilooven, who, It Is stated,
loaned tho company $125,000. V. 96, p, 1839. On Doc. 28 1914 C. E.
Hooven was appointed recoivor upon tho resignation o f F. B. Shutts.
ORGANIZATION.— Incorporated In Nov. 1898.
Franchise.— In Doc. 1917 was granted a new 20-yoar franchise authorizing
tho co. to construct a now lino within city limits In lieu of a portion of Its
existing route, construction to begin within ono year from dato of acceptance
of franchise ordinance. Tho franchise gives the co. tho right to carry
passengers, freight, express matter, baggage, packages and U. S. mail and
provides for 5-cent and 10-cont fares with half faro for children. After 10
years the co. must pay tho city $1,500 per annum. V. 106, p. 391.
Receiver's Certificates.— In Fob. 1918 applied for authority to issuo re
ceiver’s certificates to covor cost of proposed improvements to reduce
operating costs. See V. 106, p. 715.
STOCK AND BONDS—
Dale.
Interest. Outstanding.
Maturity.
Common, $760,000---------------------------------$750,000 __________
Pref. 6% cum, $250,000.....................
Q-J
58.900 ...................
First mortgage. $750.000___ J 1899
6 g J-J
750,000 July 11919
($1,000). gold----------------- (interest at Un. Sav. Bk. A Tr. C o.. Oln., Tr.
STOCK.— Pref. stock was Issued for money assessed on capital stock.
No Interest has been paid
EARNINGS.— For calendar year 1917 and years end. Juno 30:
Year —
Gross.
Net.
Bond Int.
Balance.
1917
............................................$125,015 $17,710 $37,500 dof.$19,790
1916-17............................................ 124,490 28,142
37,500 dof. 9,358
1915-10.........- .................................. 122.841
36,462
37,500 dof. 1.038
R O A D . — Operates 37.89 miles of track from Anderson's Ferry, at Cin
cinnati. to Aurora. Harrison and I.awrenceburg.
O F F IC E R S .— Itec., C. E. Ilooven.— V. 106, p. 715; V. 107, p. 1099.
CINCINNATI MILFORD S LOVELAND TRACTION CO.
c
H a le- r-In July 1918 tho sale of the co .’s properties to tho committee rep
resenting tho holders of tho $441,000 1st M . 5% bonds duo 1925 for $136,000
was confirmed by Judge Cushing in tho Common Pleas Court o f Hamilton
County, Ohio. Tho property comprises 37 miles of track between Cincin
nati and Blancliostor. Tho bondholders applied to tho Ohio P. U . Comm,
for authority to abandon tho line, but permission was refused. Fares aro
to bo increased from 2 A to 3 cents per mile and a general freight rate in
crease of 25% will he put into effect. Tho Comm, holds that proper co
operation between tho co. and its patrons will result in profitable operation.
V. 107, p. 501.— V. 100. p. 53; V. 104, p. 2451; V. 107, p. 82, 501.
INTERURBAN RY. & TERM IN AlTcO.— A trolley road.
Receivership.— On Oct. 1 1914. on application of the Westlnghouse Elec
A Mfg. Co., a creditor for $2,500, Cnarles 8 . Thrasher of Cleveland and
Charles M. Leslie of Cincinnati were appointed receivers. The Westing
house Co. charged that the company had defaulted In tho payment of In
terest ou Its bonds and Is Insolvent. The company joined In the applica
tion. 8 ee V 99. p. 969. and 1052.
ORGANIZATION.— incorporated In Ohio on Nov. 3 1902 and Is a con
solidation of the Cincinnati A Eastern Electric R y., the Rapid Railway Co.
and the Suburban Traction Co. In July 1907 obtained authority to Issue
$ 1 ,0 0 0 ,0 0 0 pref. atock, of which $900,000 was In exchange for an equal
amount uf 1st mtge. bonds dated 1903. V. 85. p. 221. 469. The 1903
bond Issue was canceled
In 1908 a now mortgage made, as below.
Rate Decision.— On Nov. 19 1915 the Ohio Supremo Court affirmed the
tho decision of tho Circuit Court of Hamilton County holding that tho com
pany Is obliged to carry passengers for a 5-cent fare between Pleasant Ridge
and Kennedy llolghte and the business section o f tho city.
Fares.— In Fob. 1918 tho Ohio P. U. Comm. auth. tho co. to increase
faros from 2 to 2 l cents per mile. In July 1918 tho receivers applied to
A
tho County Commissioners of Hamilton County, O., for a revision of the
franchise granted by tho county so as to removo restrictions as to rates
of fare. V. 107, p. 291, 802.
Decision.— On Nov. 26 1917 tho Court of Appeals at Cincinnati, roversing
tho order of the Court of Common Ploas, held that the receivers have
no auth. to abandon tho franchise betwoon Cincinnati and Bethel as pro
posed. See V. 105, p. 2272.
29
Dismantlement of Subsidiary Co. Line.— At last accounts (July 1918) the
property of the Suburban Traction Co. was being dismantled and the rails,
Ac., being sold for junk. V. 107, p. 402.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
$2,500,000 ...................
Commou, $2,500,000 ($100).................................
Pref $1,000,000 ($100) 5 % ...................................
1 ,0 0 0 ,0 0 0
...................
First mortgage, $1,650,000,/ 1908
5 J-J
See text
1928
gold __________________ tf lint, at Citizens’ Sav. A Tr. Co.. Clev.. Trus.
Bemds.— Only $122,500 of bonds were actually Issued, the remainder
being used as collateral for loans, but on Feb. 7 1916 the Citizens’
Savs A Trust Co., Cleveland, as trustee, sold at foreclosure $1,324,000
of tho bonds used as collateral to the holder of a 6 % promissory note for
$1,300,000 dated June 12 1912.
Earnings.— For the years ending Sept. 30 1917: Gross, $287,745: net
(after taxes). $4,081; in 1916. gross, $291,028; net (after taxes), $31,611.
ROAD.— Extends from Cincinnati to New Richmond, 22 miles; from
Cincinnati to Bethel. 33 miles (Including 9 miles jointly operated with New
Richmond line). and from Cincinnati to Lebanon. 33 miles. Owned track
age. lncl. second, main, sidings, A c., 77 miles. Operated trackage, tncl.
traffic arrangement In Cincinnati, 89 miles. Gauge. 5 ft. 2 A In. Oars
enter Cincinnati over the tracks of the Cincinnati Traction Co. 70-lb.
and 97-lb. T rail.
OFFICERS.— Pres., Geo. H. Worthington; V .-P.. J. M . Hutton; Sec.
and Treas., M . Ackermann.— V. 107, p. 291, 402, 802, 1101.
OHIO TRACTION CO.
ORGANIZATION.— Incorporated In Ohio on May 22 1905 and owns
practically the entire capital stock of the Cincinnati Traction Co. a*d
Cincinnati Car Co., besides an interest in the common and preferred
stock of the Cincinnati Dayton & Toledo Traction Co.
On July 6
1905 lease of the Gin. A Hamilton Trac. Go. was assigned to this company
by the Cln. Interurban Co. and the latter company placed In liquidation.
This company also acquired the property of the Traction Building C o.,
which went Into liquidation.
Interest. Outstanding.
STOCK—
Dale.
Last Div.
Common, $10,000,000 ($ 1 0 0 ) .____
$8,655,000 See text.
Pref, $10,000,000. 5% cum...............
n
8.500.000 See text.
First mtge. $2,500,000, gold,/ 1911
6 g
2.500.000
1936
sinking fund ($1,000)_____(Int. at Fidelity Trust C o., Phlla.. Trustee.
Notes $1,500,000 ($1.000)___ 1915
6 M-S
700,000 See text.
Stock.— Further Issues of stock can only be made for acquirement of
other properties and additions to the present properties
Bonds.— First mtge. covers holdings of stock of the Cincinnati Traction
Co. and Cincinnati Car Co. owned and controlled by Ohio Trac. and all
other property and franchises exception Traction cos. ownership of stock In
Cincinnati Dayton A Toledo Traction Co. Bonds are redeemable as a
whole or In part for sinking fund on any Int. date at 103 and Int. Sinking
fund provides for retirement of bonds at maturity. V. 92. p. 726. Amount
In sinking fund Jan. 151918. $447,150. The notes mature Sept. 1 yearly
as follows: 1916, $200,000; 1917 and 1918. $300,000; 1919 and 1920, $350,
000; the proportion of maturities and accrued Int. to be provided before
dlvs. are paid. Int. payable at Penn. Co. for Ins. on Lives A Granting
Annuities, trustee. V 100, p. 1259. $800,000 retired.
Dividends.— First dlv. on pref. stock— I M % — was paid Aug. 1 1905:
aud same rate paid quar. to and lncl. Nov. 1915. The Feb. 1916 dlv. was
deferred. See Pres. Schoepf’s letter In V. 102, p. 437. On Oom., first
dlv.— 1%— paid Nov. 1 1909. In 1910, Oct.. 1% . In 1911. July. 1%;
Oct., 1%. In 1912, Jan., 1%; April. 1% : July. 1% ; Oct., 1% ; Dec.,
‘1% . In 1913, April 1% . None since.
*
‘ ”
Gross
Net
Fixed
Balanee,
EARNINGS.—
Calendar Year—
Income.
Income.
Charges.
Surplus.
$566,531
$512,303
$197,000
$.315,303
1917............................ . .
834.745
782,116
211,000
571,11$
1916________________
OFFICERS.— Pres. . W. Kesley Schoepf; 1st V .-P.. Chas. P. Taft; 2nd
_
V.-P., Dana Stevens; 3rd V.-P. and Sec., Walter A. Draper; Asst. Sec..
D. J. Downing: Treas., W. H. Mac Allster; Aud.. H. L. Sanders: Gen M gr..
A. Benhara.— V. 102, p. 437; V. 103, p. 579, 759; V. 104, p. 1593; T. 107
p. 803.
^
(1) The C incinnati Traction Co.
ORGANIZATION.— Incorporated In Ohio on Feb. 19 1901 with an auth.
capital stock of $2 ,0 0 0 ,0 0 0 (which, all except 11 shares, is owned by the
Ohio Trac. C o.), to take over under lease the Cincinnati Street Ry. Oo.
See V. 72. p. 391.
Franchise Ordinance.— On Aug. 23 1918 the Cincinnati City Connell
passed a revised franchise effective Sept. 23 1918. Tho franchise was
signed by the Mayor, and thereby became a law, it having been decided
that the revised franchise would not be submitted to a referendum vote.
V. 107, p. 1191. The ordinance modifies the company’s 50-year franchise
granted in 1896 as permitted at the end of 20 and 35-year periods and con
tains the following main features: (a) City control over service, extensions
and all features of operation. (6 ) A sliding scale of fares based on the cost
of service with 5 cents as the initial fare with universal transfers, (c) Com
pany is to establish a reserve fund of $400,000 through surplus earnings.
When the reserve fund reaches $650,000 an automatic reduction of A cent
In tho rate of fare will take place. On the other hand, if the reserve fund
should bo reduced to $250,000 the rate will automatically increase A cent.
(d) A fixed return to the co. on its investment, (e) When the rate of fare
Is 5 cents or less the co. may retain 45% of the surplus, the remaining 55%
going to the reserve fund; when the rate is increased to 5 'A cents the c o .’s
share of surplus will bo reduced to 30% , and when 6 cents is reached the
co. may retain only 2 0 %; when tho rate of fare exceeds 6 cents the entire
surplus is to go to the reserve. (/) Franchise tax of $350,000 per annum to
bo paid to tho city. (g) City to have right to purchase the property either
by condemnation or at the agreed valuation of $26,238,950. For further
details seo V. 107, p. 802, 1003.
NOTES—
Dale.
Interest. Outstanding Maturity.
Equip notes 8 er ” B ’’ $360,000/ 1910
5 g J-J
$72,000 See text.
gold ($1,000)__________ c*lln t. at Fidelity Trust C o.. Phlla., Trustee.
Equip notes, Series “ C ,” f 1911
5 g J-J
66,000 See text.
$220,000, gold ($1.000)-c*lFidclity Trust C o., Philadelphia, Trustee.
Equip notes. Series " D ,” j 1912
5 g A-O
153.000 See text.
$340,000. gold ($1,000).cMFIdellty Trust C o,, Philadelphia, Trustee
Equip notes Series ” E '- $200.-1 1914
5 g M-S
110.000
See text
0 0 0 g o ld
( $ 1 ,0 0 0 )
____ r * I F i d e l it y T r . C o . . P h l l a . . t r u s t e e .
Equipment notes Series ” F” / 1917
5 g F-A
550,000 See text
$550,000 gold___________ (Fidelity Trust Co., Philadelphia, trustee.
Series “ B" are a first mortgage on 100 new cars and mature $18,000
every six months from Jan. 1 1911 to 1920, Inclusive. V. 91, p. 154.
Series “ C ” notes are a first mortgage on 50 new cars. They mature
$ 1 1 ,000 half-yearly from Jan. 1 1912 to July 1 1921. V. 93, p. 526. Series
’ D " are a 1st M . on 76 new cars and mature $17,000 half-yearly from Apr. 1
1913 to Oct. 1 1922, lncl. V. 95, p.889. Series “ E ” covers 60 new double
truck cars and mature $ 1 0 ,0 0 0 semi-annually from Aug 31 1914 to Feh.2P
1924. V. 98, p. 689, 999. Series “ F ” covers 100 new double truck cars and
matures semi-annually $27,000 on Jan. 31 and $28,000 on July 31.
REPORT.— For year eDdlng Dec. 31:
Year—
Gross.
Net.
Int.
Taxes.
Rentals.
Surplus
1917.............$5,742,761 $2,500,779 $40,637 $716,335 $1,134,337 $579,470
1916_______ 5,654,661 2,703,634 34,792 730,009 1,134,337 804,496
ROAD.— The Olncln. St. lty. comprises 227.48 miles of track In the city
of Cincinnati, Ohio, extending also to adjoining suburbs. Gauge. 6 ft.
^ OFFICERS.— Chairman Executive Comm, and Pres., W . Kesley
Schoepf; Vice-Pres., Dana Stevens: Vice-Pres., Walter A. Draper; Sec..
D. J. Downing; Treas.. W. H. MacAlLster; Aud.. H L. Sanders; Gen.
M gr., A. Benham.— V. 106. p. 2122; V. 107, p. 802, 905, 1003, 1191.
(a) C incinnati Street Railway.— Electric.
Was leased on Feb. 21 1901 to the Cincinnati Traction Co. for the unex
pired 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 5H % for the first year. 5 A % for the sec
ond, b l % for the third and 6 % for the fourth year and thereafter. V. 72.
A
p. 136. Franchises. It Is claimed by company, mature April 22 1946.
Favorable Tax Decision.— In Juno 1915 the U. S. Circuit Court or Appeals
at Cincinnati, reversing the lower court, held that the Government was
obliged to return to the Cincinnati Street Ry., Dayton A Western Trac. C o.,
Columbus Newark A Zanesville Elec. Ry.. Ft. Wayne Van Wert A Lima
Trac. Co. and Indiana Columbus A Eastern Trac. Co. about $100,000
collected from these companies under the old Federal corporation tax law.
Tho question at Issue was whether these companies carried on business
within the meaning of the law, having leased their properties to other cor
porations, and the only business done by them being to collect and pay out
the rentals under the leases. The Court held that they transacted business .
only Incidentally to that of the lessor companies. V. 101, p. 212.
30
ELECTRIC RAILWAYS
Valuation.— See Cincinnati Trac. Co. above and In V. 103, p. 578.
Lease of "Loop.''—See Cincinnati Traction Co. above.
ORGAN IZATION .— Incorporated June 21 1880 and In 1896 purchased
M t. Adams A Eden Park and M t. Auburn roads.
STOCK AND BONDS—
Par.
Interest. Outstanding. Last div.,Ac.
6 G-J
$18,511,950 See text.
Stock. $20,000,000...................$50
Dividends.— To and including April 1901, 5% per annum; July 1 and
Oct. 1 1901 and Jan. 1 and April 1 1902. 1.3125% each; July 1 1902, Oct. 1
1902, Jan. 1 1903 and April 1 1903, 1.375% each; July 1 and Oct. 1 1903
and Jan. 1 and April 1 1904. each 1.4375%; July 1904, 114%; Oct. 1904,
114%. Dividends since have been at the rate of 6% per annum and will
so continue to the end of lease and its renewals.
OFFICERS.— Pres., B. L. Kllgour; V.-P.. Edward Goepper: Sec. A
Treas.. A. J. Becht.— V. 104, p. 72, 1591. 1701; V. 106, p. 924.
(2) C incinn ati & Hamilton T ra ctio n .— A trolley road.
ORGANIZATION.— This company was organized In Aug. 1 902 as a
consolidation of the Mill Creek Valley Street Ry. and the Hamilton Glendale
A Cincinnati Traction. V. 75. p. 497. On Sept. 30 1902 was leased to the
Cincinnati Interurban Co. (V. 75, p. 906), but on July 6 1905 lease was
assigned to the Ohio Traction Co. and the Cincinnati Interurban Co. placed
in liquidation. Rental, year end. Sept. 30 1903. $55,000. Increasing to
$100,000 for 1915-16 anti thereafter.
On July 9 1914 Judge Sater In the U. S Dlst. Court at Columbus held
invalid tho ordinance passed by the City Council on Apr. 2 / 1914, providing
for a 5-cont Instead of a 10-cent fare from Cincinnati to Carthage and Hart
well (see V. 98. p. 1392). and granted an Injunction against Its enforcement.
V .9J, p. 196.
STO C K .—Auth. and outstanding, common. $1,100,000: 5% cumulative
prof., $1,100,000. Par o f shares, $100. D1vs. payable Q.-J.
Dividends.— 5% per annum Is being paid on the pref. stock. The first
div. on the com. of Vi % was paid Jan. 1 1904 and
was again paid on
April 1, July 1 and Oct. 1 1904. In 1905, 1%; in 1906, 1 %; In 1907. 2% ;
In 190s, 2% ; In 1909. 2>4%; In 1910, 2>4%: In 1911 and 1912, 3% ; since.
1% quarterly.
ROAD.— Owns and operates 36.67 miles of track from the “ Zoo” In Cln'
cinnati to Hamilton and 15 miles from Cincinnati to Lockland. Gauge .
5 ft. 2)4 In. Operates over tracks o f Cincinnati Traction Co. from “ Zoo’ i
to Fountain Square In Cincinnati.
OFFICERS.— Pres., H. H. Hoffman: V .-P., B. L. Kllgour; Sec. A
Treas., A. J. Becht, all of Cincinnati.— V. 99, p. 196; V. 106, p. 924.
CLEVELAND, OHIO.
CLEVELAND RAILWAY CO.
Tho receivers of the Municipal Traction Co. having been discharged and
the debts of that company provided Tor, the Cleveland Ry. Co. on Mar. 1
1910 resumed possession of Its lines under ordinance (seo below) of D ec.1009.
V. 90. p 626. Tho lease to Municipal Traction Co. was canceled of record.
Franchise Ordinance.— A new franchise ordinance (V. 89, p. 1667) was
assed In Doc. 1909 by the City Council, and accepted by the railway co.,
ased upon the valuation of the co's property as fixed by Judge Taylor. Tho
ordinance grants franchises to operate on existing roads to May 1 1934, sub
ject to the right of the city to purchase the propertyy In case of purchase
the city must pay the capital value of said property, as fixed by Sec. 16,
lus at tho same time 10% of so much of the capital value as is represented
y capital stock, assuming and agreeing to pay. In addition thereto, all the
obligations, indebtedness and liabilities of the co., and all liens other than
bonded debt upon Its property then existing, which bonded debt the city
shall provide for by assumption, by payment or by taking tho property
subject the eto. as may be provided oy law at the time. On ami after
Jan. 1 1918 the city may designate a purchaser or licensee In place of
the city on payment of same amount. On Feb. 17 1910 at a referendum elec
tion the electors ratified the ordinance (V. 89, p. 1667: V. 90, p. 167. 502)
On July 10 1911 City Council passed an ordinance amending that of Dec.
1909 providing, among other things, for additions to capital as required and
particularly for the Immediate expenditure of $2,500,000 for Impts., oxtetis
and equlpt. The ordinance also provided that the right of the city to pro
pose exton., betterm'ts or impts. shall terminate whenever the unexplred
term or any renewal thereof is lees than 15 years, and also that during such
period the company may operate at the maximum rate of fare and fix the
schedules subject to the police power of the city. Provision Is also made for
the use of surplus earnings during this 15-yr. period, eltbor In the payment of
floating debt or the creation of a s. f. to purchase securities and reduce
capital value. At a referendum election on Nov. 7 1911, the electors ratified
the ordinance amending that of Dec. 1909.
Has franchise In Lakewood, expiring May 1 1034. which provides for a
3-cont fare within city limits and a 5-cent fare to Cleveland, and glvtw the
City of Lakewood the right to purchase the company’s linos within the
city, subject however, to the option of the city or Cleveland to purchase
tho entire property of the company.
Valuation.—Judge Tayler placed the value of the physical property of the
Cleveland Elec. By. Co. at $17,511,856 and the franchise value at $3,615,
844; total, $21,127,700; agreed value of property purchased from Forest
City Ry. C o., $1,805,600; total valuation, $22,933,300. To this Is added
$1.158 300 Interest or rental accrued, making the entire “ capital value”
$24,091,600 The bonded debt of $8,128,000 and floating indebtedness
as of Jan. 1 1908. $1,288,000, or $9,416,000 In all, is deducted, leaving
$14,675,600. The valuation Is to be Increased for the purpose of fixing the
price at which the city or Its nominee may purchase the property by the
amount of future requirements, including cost of new pay-as-you-enter cars
and 75% of the cost of remodeling old cars as pay-as-you-enter cars.
Fares.— Faro to East Cleveland Is same as city fare. Faro to other
suburbs 5 cents, or il tickets for 50 cents, according to contracts. The
company's schedules and routes are subject to the supervision of the
city and the rates of faro to be fixed so as to net a return of Interest as stated
above on the capital value of the property and permit of the maintenance at
all times of a so-called Interest fund of at least $500,000. V. 89. p. 1667.
When this amount falls to $300,000 this shall be prlma facie evidence of
the necessity of raising the fare to the next higher rate. An experimental
fare of 3c.. with le extra for transfers without rebate, was tried to see If
It would yield the auth. Int. on capital val.— 5% on bonds, 6% on floating
debt and capital stock. On June 1 1911 authorities ordered the fare re
duced to 3c. cash fare. lc. extra for transfer, but the latter to bo rebated
when taken up. V. 92, p. 1498; V. 93. p. 1190. On Sept. 1 1914. however,
the one-ccnt charge for transfers with no rebate on surrender was restored,
as the Interest fund had fallen below the $300,000 mark
V. 99. p. 608. 342
On Dec. 15 1917 tho interest fund having again fallon below $300,000,
a cash fare of 4 cents and 3 tickets for 10 cents with a 1-cent charge for
transfers with rebate was made effective. Beginning Dec. 26 1917, the
rebating of the transfer charge was discontinued. V.-I05, p. 2455; V. 106,
p. 85. In Apr. 1918 a new schedule of a 4-cent cash faro, 7 tickets for a
uarter and a 1-cent charge for transfers, with rebate, was put into effoct.
ee V. 106 n 1461. The increase was upheld by the Ohio Suprorw Court.
V. 106, p. 1796. On Aug. 4 1918 rates were increased to 5 cents cash faro
and 5 tickets for 25 cents with a 1-cent charge for transfers without rebate,
as a result of an ordinance passed by the City Council on Aug. 3 1918 which
fixes 5 new fare schedules and provides for increased operating allowances.
The ordinance is to remain in effect until 6 months after the war, when tho
schedules of tho Taylor ordinance will again becomo operative. Tho fare
schedules are as follows: (1) 6 cents cash faro, 9 tickets for 50 cents; (2)
5 cents cash faro, 5 tickets for a quarter; (3) 5 cents cash fare, 11 tickets for
50 cents; (4) 5 cents cash faro, 6 tickets for a quarter; (5) 4 cents cash
faro, 5 tickets for 20 cents. Each schedule provides for a 1-cent charge
for transfers without rebate. V. 107, p. 695.
On Dec 14 1912 Che GounclT of Cleveland passed an ordinance giving the
company the right to transport freight within the city limits In Interurban
cars and to charge the Interurban companies 25c. per car mile.
ORGANIZATION.— In 1908 changed name from the Cleveland Elec
tric Railway Co. (which had In 1903 taken over the Cleveland City Ry.)
to Cleveland Railway C o., and authorized new stock to the amount of $36,
000,000. The old stock of Cleveland Electric Ry. was given a valuation
of $55 per share, or $12,870,000 (having formerly been $23,400,000) and
was paid for In new stock Issued by Cleveland Railway at par ($100
valuation. The Forest City Ry. (which had first absorbed the Low Fare
R y.) was purchased for $1.805.600 stock of Cleveland Ry., the shares of the
Forest city Ry being accepted at their par ($100) value.
On Jan. 2 1917 a board of arbitrators authorized tho co. to enter Into an
18-year contract with the Cleveland Electric Illuminating Co. for tbe
purchase of power, which was accordingly dono.
Wage Award bu War Labor Board.— V. 107, p. 695.
Munici al Subway Commission.— On Nov. 19 1917 Mayor Davis ap
pointed a commission of five Cleveland men to take charge of tho building
of a municipal subway system. See V. 105, p. 2271. Tho ordinance pro
E
E
§
[V ol . 107.
viding for such action was held legal by the Ohio Suprome Court In April
1918. V. 108, p. 1688.
In Mar. 1918 was auth. by the Ohio P. U. Comm, to issue $2,700,000
new stock (not reported in amount reported outstanding), of which #1,230.000 will be used to pay floating debt and tho remainder for impts. V. 106,
p. 1230. Stockholders of record Mar. 1 1918 wore offored the right to
subscribe for the new stock pro rata at par. V. 106. p. 607.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
Stock ($100).......................................
Q-J
$27,066,400 Oct. '18,1 %
First mortgage $35,000,000 gl 1911 5 M-S
5,495.000 Mch 1 1931
($ 1.00 0)-------------------c*tf l Interest in New York City or Cleveland.
Bonds.—Of the first mortgage of 1911, $15,000,000 auth. may be issued for
85% of cash cost of extensions, betterments, &c.. and remaining bonds for
50% of such cash cost, when net earnings for previous 12 mos. shall have
equaled at least twice the int. charge. Including bonds proposed to bo issued.
Bonds are red. on any int. date at 105 and int. on 90 days' notice. Citi
zens' Savings & Trust C o., Cleveland, and Bankors Trust C o., N . Y ..
trustees.
Dividends.— First div.— 1>4%— under new franchise ordinance of Dec.
1909 paid April 1910 aud 1>4% quar. since to and incl. Oct. 1918.
REPORT.— For calendar year:
Calendar
Gross
' Net
Other
Int., Taxes A
Balance.
Year—
Earnings. Earnings.
Income. 6% Dividmd.
Surplus.
1917..............$10,176,126 $2,613,787 $.80,389
$2,571,964 $122,212
1916................ 9,521,555 2,861,123
75.751
. 2,492,239. .
444,6)5
F r o m t h o s u r p l u s e s a s a b o v e t h e r e w a s d e d u c t e d $ .'> 2 4 ,0 0 0 i n 1 9 1 7 ,
a g a i n s t $ 3 8 4 , 0 0 0 in 1 9 1 6 , f o r o b s o l e t e e q u i p m e n t w r i t t e n o if f , l e a v i n g a
d e f i c i t o f $ 4 0 1 ,7 8 5 f o r 1 9 1 7 a n d a s u r p lu s o f $ 6 0 ,6 3 5 fo r 1 9 1 6 .
R O A D . — O p e r a t e s 3 8 4 3 6 3 im l e s o f s in g l e
tra ck ,
of
w h ic h 3 5 8 .0 5 2
m ile s a r o o w n e d .
M o s t ly 8 0 , 9 5 . 1 0 0 , 103 a n d 1 4 1 -lb . s t a n d a r d r a ils ,
1 ,4 7 0 p a s s e n g e r c a r s : 7 o t h e r r e v e n u e c a r s a n d 1 9 5 s e r v ic e c a r s .
O F F I C E R S . — P r e s , J. J. S t a n l e y ; V . - P . , R . A . I l a r m a n ; V . - P . & G e n .
M g r ., G e o . L . R a d c liffe S e c . & T r e a s ., H . J . D a v ie s ; A s s t. T r e a s ., W m . J .
M e a d ; A u d ., T h o s . P . K ilfo y le .— V . 1 0 6 , p . 1 7 9 6 , 2 7 5 6 ; V . 1 0 7 , p . 5 0 1 ,
603, 695.
________
/
CLEVELAND
Y.
o 'R G A N I Z A T I SOUTHWESTERN & COLUMBUS rRh 4
O
O N . — I n c o r p o r a t e d in O h i o o n M a c
cons o l i d a t i o n o f t h e C l e v e l a n d & S o u t h w e s t e r n T r a c t i o n C o . ,
con s
1 9 0 7 a n d is a ’
th e C le v e la n d
A s h la n d A M a n s fie ld T r a c t io n C o . a n d t h e O h io C e n t r a l T r a c t io n C o .
F or
te rm s o f e x c h a n g e s e e V . 83, p . 1 5 9 0 .
A ls o o w n s th e N o r w a lk G a s &
E le c t r ic C o .
I n J a n . 1 9 1 3 t h e E l y r i a G r a f t o n A S o u t h e r n R y . r e d u c e d I ts c a p i t a l s t o c k
T rom $ 1 0 0 ,0 0 0 t o $ 1 ,0 0 0 . a n d th e N o r w a l k G a s A E le c . C o . f r o m 5 1 2 5 ,0 0 0
to $ 1 ,2 5 0 .
In M a r c h 19 1 3 th e C le v e la n d S o u t h w . & C o l. r e d u c e d th o
a u th o r iz e d a m o u n t o f c o m m o n s t o c k fr o m $ 7 ,5 0 0 ,0 0 0 to $ 4 ,2 3 0 ,0 0 0 .
In J a n . 19 1 7 a c c o p t e d a 2 5 -y e a r fr a n c h is e fr o m th o C it y o f E ly r ia , p r o
v id in g fo r 2 0 -m in u te c it y s e r v ic e a n d 6 t ic k e ts fo r 2 5 c
T h o O h i o P . S . C o m m , h a s f r o m t i m e t o t i m e a u t h . t h o c o . t o is s u e
$ 5 4 8 ,6 7 8 1 s t c o n s o l . M . 5 s a t n o t le s s t h a n 8 5 t o r e i m b u r s e t h e c o . f o r e x
p e n d it u r e s f o r im p t s ., A c . , a n d t o h y p o t h e c a t e t h e m p e n d in g s a le .
in J u n e 1917 th o G u a r d ia n S a v . A T ru s t C o . p u r c h a s e d $ 7 5 ,0 0 0 c a r tr u s t
6 s Issu e d a g a in s t 8 n o w c a r s , m a t u r in g $ 1 0 ,0 0 0 o a e h y e a r t h e r e a ft e r o n
M a y 1 5 a n d N o v . 15 u n t i l r e t i r e d .
Fare Increase.— O n A u g . I 1 9 1 8 a n e w f a r e s c h e d u l o w o n t i n t o e f f e c t
w h ic h p r o v id e d fo r a s tr a ig h t r a te o f 3 c e n ts a m ile , a n in c r c a s o o f y 2 c e n t
a m ile .
V . 107, p . 401.
A n in c r e a s e o f 2 5 % in c la s s a n d c o m m o d i t y r a t o s
h a s b e e n a p p lie d fo r .
V . 107, p . 82.
S T O C K A N I) B O N D S —
Date. Interest.
Outstanding. Maturity.
C o m m o n $ 7 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) ...................................................
$ 4 ,2 3 6 ,0 0 0
............................
i ' r e f $ 2 , 5 0 0 . 0 0 0 5 % c u m ( $ 1 0 0 ) .......................................
2 .4 1 2 .0 0 0
........................
F ir s t g e n e r a l c o n s o l m o r t g a g e !. 1 9 0 7
5 A -O
9 1 5 ,0 0 0 A p r il l 1 9 2 7
$ 1 0 ,0 0 0 .0 0 0 ( $ 1 .0 0 0 ) g c * & r c p t J I n t . a t C le v e la n d T r . C o . . C le v e ., T r u s t e e .
C l e v e l a n d & E l y r i a f i r s t m o r t> -f 1 8 9 5
6 Q -F
20 0 00 0 A u g . 1 1920
g a g e on
1 8 m il e s ( $ 5 0 0 ) 1 I n t e r e s t a t C i t i z e n s ’ S a v i n g s & T r u s t C o . ,
S u b j e c t t o c a l l ........... ........ c p t l
C le v e la n d , T r u s t e e ,
E ly r ia & O b e r lin fir s t m o r t -j 1 8 9 7
6 F -A
1 0 0 ,0 0 0 A u g 1 1 9 2 2
g a g e o n 9 m ile s ( $ 5 0 0 ) g o l d } I n t e r e s t a t C le v e la n d T r u s t C o . , T r u s t e e .
C le v B e r E ly r & O b e r lin c o n s ]
1899
5 g M -S
1 2 7 ,0 0 0 M c h . 1 1 9 1 9
M 5 5 0 0 .0 0 0 k (5 1 ,0 0 0 e a c h ) } I n t e r e s t a t C le v e la n d T r u s t C o . , T r u s t e e .
S u b j e c t t o c a l l ___________c p t j
Cleveland Elyria & Western 1900 5 g F-A
1,073,000 Aug. 1 1920
first mortgage $1,600,000 Int. at Clove. Tr. C o.. Cleve., Trustee, or at
„„„
....... ------ ($1.000) gold______ cA rcpt! Nat. Bank of Commerce In N. Y ., May be
eallod at 100.
Elyria Grafton A Southern 1902 5 g J-J
100.000 Jan. 1 1922
Ry first mortgage guar Interest at Cleveland Trust C o., Cleveland,
anteed by C E St W ($100,Trustee, and Equitable Trust Oo.. N. Y.
000 ($1,000) geld___ c*cpt
Can be called at par.
Norwalk Gas A Electric first 1900
6 A-O
110.000 April 1 1920
mtge. $110,000 ($500), g. Int. at Ouardian S. A Tr. C o.. Cleveland.
Subject to c a ll.______cpt
.
_____ Trustee, or Chase National Bank, N. Y.
Cleveland & Southwestern ( 1903
5 g F-A
1,400,000 Fob 1 1923
first and consol mortgage] Int. at Ouardian Sav. A Tr. C o., Cleveland.
s
$3,000,000($1,000)gcArcptl Trustee, or Equitable Trust Oo., N. Y.
Ohio C Trac first mortgage! 1899
6 g J-I)
95.000 Juno 1 1919
closed ($1,000), goldc*n tfI Int. N. Haven Tr. C o.. N Hav C o n n „T r .
Ohio Central Traction consol-f 1903
5 g M-S
305.000 Mar 1 1923
(dated mortgage
closed! Int. at Cleve. Tr. Oo., Cleveland, Trustee, or
($500), g o l d _______ c* cp tl at National Bank of Commerce. N. Y.
Cartrusts................................ 1917
6 M-N
65.000
Seo text
Bonds.—Of tho $10,000,000 now bonds, $3,510,000 aro rosorvod for prior
lions. $321,700 aro In treasury and $5,545,000 aro for extensions, improve
ments, Ac. They aro subj. to call after 10 years at 105 and accrued Int.
Tho Cleveland & Southwestern bonds of 1903 aro subjoct to call at 105 and
Int. $ l ,600.000 of this issue are reserved to rotlre certain underlying bonds.
The Cleveland A Elyria 1st M . 6s of 1895 fell duo May 1 1916, but were
extended to Aug. 1 1920. Callable any Int. date on 30 davs’ notice, as
follows: In 1917. lOOtf: 1918. 100)4: 1919. 100V thereafter at par A Int.
Of the Cleveland Berea Elyria & Oberlin 5s dated March 1 1899. $300,000
remain In reserve for the retirement at or before maturity of tho divisional
68 to a like amount. Of tho $1,500,000 Cleveland Elyria A Westorn now
5s, $427,000 are reserved to retire prior Hens. The Ohio Central Trac. Oo.
consol, bonds may be called upon 30 days’ notlco at 105 and Int. Tho Elyria
A Oberlin 6s of 1897 fell duo Aug. 1 1917 but wore extondod to Aug. 1 1922.
EARNINGS.— For calendar years:
Year—
Gross.
Net (after Taxes).Int., A c .
Balance.
1917..............................$1,407,768
$276,177
$310,995
dof.$64,817
1916.............................. 1,337,156
469,803
332,284
-sur. 137.519
1915.............................. 1,242,100
377,056
330.370
sur.46,686
ROAD.— Operates 209 miles of track (of which 177 miles are on private
right of way) in and from Cleveland to Berea. Elyria, Oberlin, Norwalk,
Medina. Grafton, Wellington. North Amhorst. Lorain Dreston, Chippewa,
Lake, Seville. Wooster, Linndale, Purltas Springs, Oalion, Bucyrus, Crest
line. Mansfield, Ashland, Nankin, Polk, West. Salem, Lodi and Le Roy,
60. 70 and 100-lb. rails. Standard gauge. Also doas freight and express
business. Operates 66 passenger and 35 other cars; total, 101. Company
owns Puritan Springs and Seccaium Park and roaches Chippewa Lake.
Also owns and operates electric-lighting plant in Norwalk.
OFFICERS.— Pres., F. E. Myers; V.-P., L. J. Wolf; Sec. A Treas.,
J. O. Wilson; Gen. M gr., E. F. Schneidor; Auditor, M . E. McGraw.
General office, Garfield Bldg., Cleveland.— V. 105, p. 180, 389. 1309.
1617. 2455; V. 106, p. 607; V. 107, p. 82, 401.
C LE V E L A N D PA IN E SV IL LE & E A ST E R N R R .
ORGANIZATION, Ac.— Incorporated In Ohio on April 25 1895. Road
completed In July 1908. Franchises oxplre from 1920 to 1935. In Juno
1906 acquired control of the Clev. Palnesv. ft Ash. RR. V.82. p.1322, 1379.
In 1913 purchased the United Light ft Power Co. (stock. $100,000
bonds. $100,000).
Rate Increase.— Late In 1917 was auth. by tho Ohio P. U. Comm, to
Increase lighting and power rates.
Fare Increase.— In July 1918 was authorized by tho Ohio P. U. Comm,
to increaso passenger rates, effective Aug. 1 1918. V. 107, p. 401.
Proposed Bond Extrnsum.— On Sept. 16 1918 the co. announced that
because of abnormal financial conditions it would bo practically Impossible
to refund at tho present time tho $500,000 1st mtge. bonds and tho $1,131,
000 1st consol, mtge. 5s duo Oct. 1 1918. Tho co., thoreforo, is endeavoring
to arrange for an extension of tho maturing issues to Oct. 1 1923 at 7% ,
extended bonds to bo red. all or in part at 100 and Int. on any Int. date
on 60 days' notice. Tho holders of all tho 1st mtgo. bonds and of a large
number of the 1st consol, mtgo. bonds liavo tentatively agreed to the
extension upon tho condition that all tho 1st consol, mtgo. bonds be ex
tended. V. 107, p. 1191.
S hpt ., 1918.]
ELECTRIC RAILWAYS
31
Maturity.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Stock. $3,500,000 (par $100).................................
$2,500,000
First mortgage. $500,000, f 1896
5 g A-O
_ 500.000 obYi’ wii
gold ($1,000 e a ch )_c*.cp t' Interest at Morton Trust Co. N. Y .. or
' '
‘ •
Cleveland Trust C o.. Olev.. Trustee.
5 A-O
1.131.000 Oct 1 1918
Consol mort. (closed $1, 1898
6 3 1 .0 0 0
($1,000), gold.cp t Int. at Citizens' Sav. & Tr. C o., Oleye.,
Trustee, or Trust Co. of America, N. Y.
5 g M-N
926.000 May 1 1948
Ref and extension mtge, $5. 1908
000.000. gold($1.000)c*cpt Int. at Clevel Trust C o.. Cleveland, Trustee.
I or company's agencyl n New York.
Bonds.— $500,000 consols are rosdrved to retire underlying liens. The
mtge., originally for $2,000,000. was closed at $1,631,000 and the balance
cancolod
Of the refunding and extension bonds, $1,631,000 are reserved
to retire prior Hens, and $2,415,000 are reserved for future extensions and
Improvements, to bo Issued only when net earnings for preceding 12 month*
have been net loss than 25% In excess of Interost charges on outstanding
bonds, Including those to be Issued. $28,000 are In the treasury. Subject
to call May 1 1938 or on any Interost date thereafter at par and Interest
on 30 days' notice. The 1st mtge. bonds originally fell due Apr. 1 1916
but were extended to Oct. 1 1918.
t
^ .
RE PO RT.— For y. ars ending Doc. 31 (excl United Light S Power Co.)
c
Calendar
Gross
Net
Other
Interest
Balance
Year—
Earnings.
Earnings.
Income, and Taxes.
Surplus
1917_____ _____ $509,856
$212,447
$8,000
$169,656
$50,791
$164,695
$56,330
1916...................$441,139
$218,151 „ $2,874
The results of tho United Light S Powor Co for 1917 were: Gross,
c
$29,251; net, after taxes, $9,233. In 1916, gross, $22,592; not, aftor taxes,
$8,493.
,
T , ...
Latest Earnings.— For 7 months ending July 31:
Controls the Lorain Street R R . and the Sandusky Fremout S Southern
c
Ry.. which see below. Also controls the People's Light A Power Co. and
tho Bellevue Illuminating & Power Co. On Aug. 1 1918 purchased 50%
of tho capital stock of the Ohio State Power Co. (Tho other 50% Is owned
by tho Amor. Gas & Elec. Co. of N. Y.) In 1907 made contract to supply
power to tho TolodoFindlay& Fostoria and several other roads. V.85,p. 1646.
In 1910 charter was amended so as to transform the then existing 5%
cum. pref. stock ot $3,000,000 Into $1,000,000 6% cum 1st pref and $2.
000,000 5% non-cum 2d pref. stock; V. 90. p. 698. At the same time
accumulated dividends on the old pref. stock (part of which had been
Issued later than thereat) were adjusted. V. 90. p. 1170. 1296 V. 91. p.790.
In Jan. 1915 the articles of Incorporation were amended to enable the com
pany to sell and distribute electricity for light, heat and other purposes
In certain localities.
The Ohio Utilities Comm, has from time to time authorized the company
to sell additional gen. mtge. bonds, aggregating $428,000. which have
been Issued and are held In treasury. On Feb 10 1915 Increased authorized
amount of 1st pref stock from $1.000.000 to SI .500.000.
, Fare Increase.— In July 1918 was authorized by the Ohio P. U. Comm, to
Increase the mileage charge, effective Aug. 1 1918. V. 107, p. 402.
STOCK AND BONDS— Date.
Interest. Outstanumg.
Maturity.
$4,500,000
Common, $4,500,000 (par $100)...........................
1st p f$l.500.000($ 100)6% c u m ____
Q-J
1.000.000
See text
2d pf $2.000.000($100)5% n-c. ..........................
2.000.
000 No dlv. yet.
First cons mtge, 54,000,000/ 1903
5 g J-J
...........
1.690.000 Jan _ ____
1 1923
($1,000). gold_______ c ’ tf/In t. at Citizens’ Sav. & Tr. Co . Cleveland.
i
Trustee, or Trust Co., of Am
General mtge.$7,000,000(1903
5 g F-A
2.255,000 Feb 11933
($1,000), gold_______ c * tf(In t. at Citizens' Sav. S Tr C o., Cleveland.
c
Trustee, or company's agency In N. Y.
7 Months—
Gross.
N et, aft. l a x
Interest.
Surplus. Lorain & Cleveland 1st, gold 1897
5 g J-J
750.000 July 1 1927
1918
- .-.$295,361
$94,526
$80,711
$13,815
($1,000). $1.000.000___ tf Interest at Citizens' Sav. & Trust C o..
19171 — 1..................... 285,026
108,594
, 82,007
26,587
Cleveland, or company’s agency in N. Y.
ROAD.— Owns road from Euclid, Ohio, to Palnosvllle and Falrport. T F &N 1st M $1,500,000 g f 1900 5 g J-J
1.500.000 Jan 1 1920
24.02 miles (“ Main Lino"), and usee Cleveland Electric Ry. from Euclid
guar ($500, $1,000) ..c * t flln t . at Union Trust Co Detroit. Trustee.
to Public Square, Cleveland. 10 miles; also owns “ Shore Line," extending Car
trust
certifica tes, J 1917 6 J-J
158,400 See text
from Willoughby to Cleveland (St. Clair Ave. S 110th St.), 14.89 miles,
c
$176,000_________________ 1Guardian Savings & Trust C o., Clev., trust.
and usos tho Cleveland Electric Ry. Co.'s track from that point to tho
Bonds.— Of the $4,000,000 first consols, $2,250,000 are reserved to retire
Public Square. Cleveland, 6 miles. Total track operated (Including 4H prior liens; $60,000 have been canceled; $4,000,000 of the general mortgage
miles of double), 46)4 miles. With the Clove. Painesv. & Ashtabula forms 5 per cents are reserved to retire the first consols and $745,000 (of which
a continuous lino from Cleveland to Ashtabula. 46 motor cars and 8 other $428,000 have been certified by the trustee and are In treasury) for exten
cars.
Power-house Is at Palnesvllle.
Car-houses at Willoughby and dons and Impts. at 80% of cost. Neither Issue Is subJ. to call A sinking
fund for the first consols, commenced Jan. 1 1909, retiring $10,000 per
N°OFFICERS.— Pres., E. W . Moore; V .-P ., F. H. Goff; V.-P. & Gen. annum until 1914; from 1920 to 1922. Inch, $30,000 bonds per annum are to
Mgr. W. H. Douglas; Treas., E. V. Halo; Sec., Fred S. Horton; Asst. Sec. be canceled. The L. & C. bonds are callable since July 1 1917 at par and
and Treas., John P. Witt. Cleveland. O.— V. 102, p. 885, 1811; V. 104, Int. The T . F. & N. bonds can be called at 110 and Int. on any Int. date
p. 1489; V. 106, p. 2010; V. 107, p. 82, 401, 1191.
upon 90 days’ notice. A sinking fund on the T . F. S N. bonds of $10,000
c
„ (1) Cleveland Palnesvllle & Ashtabula R R .— A trolley road. E n per annum commenced In 1905 and runs to 1909, 'ncl.: from 1910 to 1914.
tirely over private right o f way, except through some of the villages, where 520.000 per ann.; 1916 to 1919, $30,000 per ann.: $ '<)5 500 bonds were held
In sinking fund Sept. 1 1918. The car trust certificates of 1917 mature
franchises expire in 1927.
Default—Committee.— Jan. 1 1917 and subsequent interost Is In default. $17,600 each July 1.
Lien.— The T . F. & N. bonds are a first Hen on the division between
Tho following committee is asking deposits of bonds with tho Cleveland
fc
Trust Co.: A. O. Tame, H. D. Messlck and J. A. House, all of Cleveland; Toledo and Norwalk; the L. < C. bonds are a first Hen on the road between
Sec., E. E. Newman, caro o f Cleveland Trust Co., Clove. V. 104, p. 256. Cleveland and Lorain; and the 1st consol, bonds a first lien on all other
lines and also a second mtge. on the divisions noted above.
ORGAN IZATH >N — Incorporated In Ohio In 1902.
Dividends.— Initial dlv. on 1st Dref.. 1H % , paid Oct. 1 1910: same
Fare Increase.— In July 1918 was authorized by tho Ohio P. U. Comm, to
amount quarterly to and Including April 1915. July 1915 dividend omitted
lncreaso tho mileago chargo, effective Aug. 1 1918. V. 107, p. 401.
(V. 101. p 47)
None since.
STOCK AND BONDS— Date.
Interest. Outstanding.
M aturity
REPORT.— For years ending Dec.
Stock. $1,000,000 ($100)....................................
$1,000,000 ................... Sandusky Fremont & Southern Ry. and31. excluding Lorain Street R R ..
light and power companies.
First mortgage $1,000.0001 1902
5 g J-J
1,000,000 July 1 1922 Year—
Gross.
Netiaft. Tax.) Oth.Inc.
Interest.
Surplus.
gold ($ 1 ,0 0 0 ) ...........c* cpt IInt. at Cleveland Trust C o., Clove., Trustee
$165,026
______
$334,577
$130,449
Bonds.— No sinking fund and bonds cannot be called; Soo V. 75, p. 549. 1017...........$1,419,750
1916 _____ 1,252,234
448,634
$25,000
339,898
133,732
REPO RT.— For years ending Dec. 31.
1915 _____ 1,097,042
377,982
25,000
336,444
66.538
Years—
Gross.
Net.
Other In c. Int. A T a ies.
Deficit
Latest Earnings of Entire System.— For 5 mos. ending May 31:
1917 ..........$154,772
$21,862
$190
$77,804
$55,752 19 18..........$772,168
$186,871
...........
$181,005
$5,866
101«._<____ 158.649
53.464
219
78,047
24,364 1917 .......... 659,926
194.872
...........
171,837
23,035
1915
.
148.868
51559
171
<6.996
25.266
Passengers carried in 1917, 6,241,350; In 1916, 5,768,899.
Latest Earnings.— For 7 months onding July 31:
Earnings for 1917 of the People’s Lt. & Pow. Co. wero: Gross, $17,991;
7 Months —
Gross.
N et, aft. Taxes.
Interest.
Deficit. not, after taxes, $5,023; and of the Bellevue HI. & Pow. Co., gross, S30.939;
1918.................................$90,130
, $209
S40.035
$39,826 net. after taxes. $10.261.
1917................................. 90,436
10,542
39,855
29,313
ROAD.— Operates 170.13 miles, extending from Cleveland to Toledo and
ItOAi) —Operates 30 miles track between Palnesvllle and Ashtabula
from Sandusky to
also city lines In Sandusky:
Put in full operation on July 30 1904 . 70-lb. T and girder rail used. Track Sandusky, and 70 to 100-lb. rails. Norwalk; line from Clev to Toledo was
standard gauge;
Through
standard gauge. Connects at Palnesvllle with the Cleveland Palnesvllle & opened Tor business about Aug. 26 1902. In addition owns the Sandusky
Eastern RR. and at Ashtabula with tho Pennsylvania & Ohio Ry.
Fremont
miles,
the Lorain
21.77 miles,
OFFICERS.— Same as Cleveland Painesv. & East, above.— V. 92. making a & Southern, 20miles. and passenger. 7Street R R ., 52 work and
total of 216.77
114
baggage.
p. 322; V. 98, p. 386; V. 104, p. 163, 256; V. 106, p. 2010; V. 107, p. 401.
freight cars. Total, 173.
OFFICERS.— Pres., E. W. Moore, Cleveland and N. Y .; V .-Ps., F. H.
CLEVELAND & EASTERN TRACTION CO.— A trolley road.
G off and A. Lewenthnl. Cleveland: V.-P. and Gen'. M gr., F VV. Coen,
ORGANIZATION.— Incorporated In Ohio on May 18 1910 to succeed Sandusky, O.; Sec. & Treas., Jno. P. Witt, Cleveland.— V. 104, p. 1263,
the Cleveland < Eastern division (V. 90, p. 1613) o f the Eastern Ohio Trac
&
1895, 2118; V. 105, p. 2184. 2543; V. 106, p. 2116, 2345, V. 107, p. 402.
tloD Co per plan In V 89. p 1541. 1596.
(1) Lorain Street Railroad C o.— A trolley road
Op M ay 3 1915 stockholders voted to amend the charter so as to permit
ORGANIZATION.— Incorporated In Ohio on Aug. 3 1906 and Is a con
company to engage In electric light and power business V. too p 1509.
solidation of the Lorain St Railway and the Avon Beach A Southern RR.
Fare Increase.— In July 1918 was authorized by tho Ohio P. U. Comm, to
Entire stock owned by tho Lake Shore Elec. Ry. Operates on private
Increase the mileage charge, cffectivo Aug. 1 1918. V. 107, p. 401.
S T O C K AND HON 1)8—
Date.
Interest. Outstanding.
Maturity. right-of-way except three miles in Lorain and Elyria, on which franchises
run until March 1943.
Common stock ($ 100)---------------- --------- $381,600
________
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Pref stock, 5% n-c ($ 1 0 0 ).............................- - - 465.865 Apr. '18 1%
..........
$2,000,000 ........... ........
First mortgage. $1,000,000,/ 1910
6 K J-J
^763.200 July 11932 Stock $2,500,000 ($100)..............................Q-J
Lorain St RR notes ($1,000.1 1915 6
200.000 Jan 1 1920
gold ($1.000) . ...............c*(lu t. at Guardian Sav. & Tr. Co.. Clov.. Trus
$500 and $100)__________ lint, at Citizens'Sav. & Tr C o.. Clev., Trus.
Bands.— Remaining bonds reserved for extensions, &c. Ronds subject
Lorain St Ry 1st M $750.0001 1899 5 g M-N
550.000 Nov 1 1949
to call, any or all, on any Int. day, at 103 and Int.; began to draw Int. Jan.
gold ($1,000)________ c*.tffln t. at Guaranty Trust Co.. N Y., Trustee.
".
11912
V .9 1 .P 336.
,
, „ ,
,
See text July 1 1936
Dividends.— Tno first dlv. on tho preferred stock— 14%— was paid In First consol mtge $2,000,000/ 1906 5 g J-J
gold guar $1.000)____c V tffln t. at Citizens’ Sav. S Trust C o .. Cleveland.
c
Nov. 1915. In 1916 and 1917, 3% each. In 1918, Jan. 1%; April, 1% ;
( Trustee, or Agency In New York
nono since.
Bonds.— Of the $2,000,000 cons, bonds. $750,000 are reserved for prior
EARNINGS.— For cal. year 1917, gross, $243,843; net (after taxes),
$72,241; charges, $38,160: divs., $9,317: sur., $24,764.
In 1916, gross, liens and $750,000 for extensions. &c. They are guar., prln. and Int., by
endorsement by the Lake Shore Electric Ry. The notes are secured by
$238,410; net, after taxes, $91,938: charges, $54,465; sur., $37,473.
ROA D .— Operates 40 miles or track from Cleveland to Ohardon. Burton $200,000 Lorain St. Ry. consol mtge. 5s (now a first Hen) and $100,000 first
consol. 5s of 1906. They are guar., p. S 1 (end.) by the Lake Shore Elec.
c .
and Mlddlefield. oiilo. Standard gauge. 60-lb. T rails.
OFFICERS.— Pros., II. p. McIntosh; V.-P . Horatio Ford; Sec. and Ry. and are callable at par and Int. on any Int. date on 15 days' notice.
Conv. Into 1st M. 5s upon a basis of 921$. or upon adjustment of discount
Gen. Mgr.. Robt. I) Beattv- Treas.. O. A. Taylor. Ofrice, 708 Belmont
Bldg., Cleveland. O.— V. 100, p. 1509; V. 101, p. 1627; V. 102, p. 437; and Interest. The notas were Issued to retire $200,000 Lorain St Rv 6%
bonds due Jan. 1 1915. They fell due originally in 1918 but wore extended
V. 106, p. 924; V. 107. p. 401.
for 2 years.
•
R EPO RT.— For calendar years:
CLEVELAND & CI1AORIN PALLS R Y . CO.
Cal. Yrs.— Grosslnc.
Exp. & Tax. Net Earns. Int.Paid.
Surplus.
OKGANIZA LION.— Incorporated in Ohio on fo b . 18 1910 to take over
1917................ $218,710
$149,415
S69.300
$54,505
$14,795
tho Clov. & Chag. Dlv of the East. Ohio Trac.. sold Feb. 5 1910.
129,188
76.200
64,500
11,700
Receiver.— In July 1917 Judge Phillips in the Common Pleas Court at 1916 ............. 205,388
Passengers carried in 1917, 3,711,368; In 1916, 3,563.829.
Cleveland appointed Sec & Gen. Mgr. Robert D. Beattie receiver on appli
ROAD.— Operates 24.77 miles of track between Elyria. Lorain and
cation of the Guardian Savings S Trust C o.. Cleveland. O., mtge. trustee.
e
Tho trustee claimed that tho road was unable to pay a Judgment, of 850,000 Beach Park. Standard gauge. 24 cars. V. 105. p. 2184, 2543.
awarded to a Mrs. Stroup for damages received on July 19 1915 when her
(2) The Sandusky Premont & Southern Ry.
automobile was struck by one of tho company’s cars.
ORGANIZATION.— Incorporated In Ohio In April 1906. Is operated
In Jan. 1918 capital stock was reduced from $300,000 (par $100) to as part of main line of Lake Shore Electric Ry. between Cleveland and
$30,000 (par $10).
Toledo. Lake Shore Elec. Ry. owns entire stock. Private right of way.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Stock. $2,000.000___________— Owned by the Lake Shore Electric R y.—
Stock, $30 000 ($10)...... ........................................
$30,000 . . .
5 K J-J
$645,000 July 1 1936
Clov A Ch Falls 1st MS300.-J 1910
6 g J-J
251.900 Jan 1 1930 First mortgage, $2,000,000./ 1906
gold ($1,000). guar_ c* tf{In t. at Citizens Sav S Trust Co.. Cleve.,
_
c
000 g ($100 & $500) . . _c*flnt. at Guardian Sav. & Tr. Co.. Clev., Trus.
1
Trustee, or at Agency In N
Bonds.— SubJ. to call any or all on any Int. date at 102H and Int.; $48,100
Bonds.— Are guaranteed, prln. and Int., by endorsement, by tho Lake
are In treasury
EARNINGS.— For cal. year 1917, gross, $85,411; net (after taxes), Shore Elec. Ry.; not subject to call. See V. 83, p. 1099REPORT.— For calendar years.
$16,484: charges, $15,114; surplus. $1,370. In 1916. gross, $82,131; not.
Calendar
Cross
Expenses and
Net
Interest
Balance.
after taxes, $21,430: charges, $15,114; surplus, $6,316.
Year—
Income.
Taxes.
Earnings.
Paid.
Deficit.
ROAD.— Gperates 37 miles of line between Cleveland and Chagrin Fall*
1917............... $98,615
$72,906
$25,709
$32,250
$6,541
Standard gaugp. 60 and 70-lb. T rail.
1916............... 92,716
61.394
31,322
32,250
928
OFFICERS.— Receiver, Robt. D. Beatty; Pres., FI. P. McIntosh: V.-P.,
54,832
21 855
32 250
10,395
Iloratlo Ford; Sec. A Treas., C. A. Taylor.— V. 99, p. 1909; V. 105, p. 715 1915............... 76,687
Passengers carried In 1917, 345.080: In 1916, 337,602. ’
ROAD.— Operates a line from Sandusky to Fremont, 20 mUes. 14 cars.
LAKE SHORE ELECTRIC RY.
—V. 83, p. 97. 1099.
,
ORGANIZATION.— The Lako Shore Electric Ry. was Incorporated on
Sept. 25 1901 under laws of Ohio as a consolidation of the Lorain & Cleve
land R y.. the Sandusky & Interurhan R y., tho Sandusky Norwalk & South
CLINTON STREET RY.
ern Ry and the Toledo Fremont S Norwalk RR
c
V 73. p 784. About
ORGANIZATION.— Incorp. In Iowa Feb. 4 1891. Under It3 charter
half the road Is built on private right of way. In Nov. 1917 the city of tho co. Is auth. to conduct a street railway, light, power and heating busi
Lorain granted a new franchise to tho co. and Its subsidiary, the Lorain ness. Franchise covering main street of the city Is perpetual; others
St. R R ., which was rojected on tho ground that tho faro rate of six tickets expire 1935 and 1938.
for 25 cents Is Insufficient for profitable operation. On Mar. 22 1918 the
STOCK AND BONDS— Date.
Interest.
Outstanding. Maturity.
Lorain St. RR. obtained a now 25-year franchise which provides for a Stock $1,000,000 ($100).....................................
$596,600 See text.
straight 5-cont faro, and on Mar. 27 1918 a 25-yoar franchlso was granted First mortgage $400,000 gold) 1906 5 g A-O
400.000 Mar 31 1926
to the Lako Shore Elec. Ry.
($1,000)_______________c * /ln t. at IHinols Tr. S Sav. Bk., Chic., Trustee
c
CLINTON, IOWA.
33
ELECTRIC RAILWAYS
Bonds.— Callable at 105 and lnt. on any int. date on 90 days’ notice. A
supplemental mortgage provides that beginning April l 1918 a fund of 2%
of the bonds outstanding or retired by this fund be established to be used
for renowals, betterments, &c., or for the purchase of bonds up to 105
and Interest. V. 104, p. 862.
Dividends.— Paid 6% dividends from 1907 to 1913. Incl. (except 5% In
1912). In 1913 the stockholders advanced a substantial sum for construc
tion, &c., and waived dividends while this sum was boing paid out of earn
ings; *41,400 was so paid in 1916.
EARN INGS.— For year ending Dec. 31 1917, gross, 5182,415; net,
after taxes, $70,236. In 1916, gross, $185,870; net, after taxes, $76,009.
In 1915.. gross, $178,810; net, $79,326.
ROAD. Sec.— About 16 miles of single track equivalent and 32 single truck
cars. Current Is purchased from the Clinton Gas S Electric Co. Inter
c
urban cars from Davenport enter to centre o f city over the company’s
tracks undor traffic agreement.
OFFICERS.— Pres., O. H. Young; V .-P ., R . O. Langan; Sec., A. L.
Schuyler; Treas., O. C.Coan; Gen. M gr., Bernard Bohnsen. V. 104,p.862.
C O F F E Y V IL L E , K A N ,
THE UNION TRACTION CO.
ORGANIZATION.— Incorporated Sept. 28 1906 in Kansas. In Dee.
1916 was granted a permit to do business in Oklahoma. Franchises expire
1957. Road is on private right o f way except in Coffeyville, Independence,
Oherryvale and Parsons.
Fare Increase.— In Sept. 1918 was auth. by the I.-S. C. Comm, to in
crease faros between Parsons and Coffoyville, and Nowata, Okla., and
intermediate points to not to exceed 2.6 cents per mile. V. 107, p. 1194.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock. $500,000.......................
....... - ...........
$500,000 See text.
First mtge, $1,000,000, gold/ 1907
5 J-J
966.000 Jan 1 1937
($1,000). sinking fu n d .. t f( Warren (Pa.) Trust C o., Trustee.
Second mortgage__________ tf 1911
6 A-O
lOO.OOO Oct 1 1921
Bonds.— 1st M . bonds are red. ann. by lot at 105 and Interest since Jan.
1912. through e. f.; $34,000 have been retired. S. f. of 10% of net earnings
annually began In 1911. Int. at Nat. City Bk., N . Y .; Commercial Nat.
Bank, Chic., and Tradesmen’s Nat. Bank, Phlla. See V. 88, p. 1003
Dividends.— A d lv .o f6 % was paid during the fiscal year end. June 3 0 '1 3 .
EARNINGS.— For year ending Dec. 31 1917, gross, $382,059; net, after
taxes, $100,034; int. on bonds, &c., $73,905; surplus, $26,129.
HOAD.— operates 67 miles of road, of which 9H m. in Coffeyvllle, 7
miles In Independence and 60K miles of lnterurban road between Ooffeyvillo. Independence, Cherryvalo and Parsons. 70-lb. T rails. Purchases
power from the Kansas Gas & Elec. Co.
OFFICERS.— Pres., D II. Slgglne. Warren, Pa.; Sec., II. A . Slgglns:
Treas., Sam Q. Smith.— V. 99, p. 1750; V. 105, p. 2544; V. 107, p. 1194.
[Vol . 107
Bonds.— The bonds of the Columbus Electric Co. are subject to call as a
whole at 105 & lnt. $53,000 are in treasury. An ‘‘improvement fund" of
2% per annum of outstanding bonds commenced in 1905. The 2-year
notes are callable as a whole on any int. day on 30 day’s notice at 109 and
int. V. 105, p. 817. The Columbus Power Co. bonds are callable as a
whole (or In part for sinking fund) at 110 and Int. on any Int. day. A
sinking fund of 1% of bonds out began April 1 1912. $197,000 purchased
for sinking fund and cancolod. $650.000 held in troasury. Bonds aro
guar., p. & i., and s. f.. by Columbus Electric Co.
Dividends.— First div. on pref. stock, 3% , was paid Jan. 1907: 3% has
been paid semi-annually since to and Including July 1918.
PR OPERTY.— 25.9 miles of equivalent single track, of which 5 miles
leased to Seaboard Air Lino for 50 years. 44 cars; 2 steam locomotives
(leased to S. A. L. R y.). Standard gauge. Controls hydro-electric plants
with a capacity of 21,650 k. w., and a steam plant of 1,500 k. w. capacity.
EARNINGS.— For 12 months ending Juno30;
Gross
Net. after
Interest
Sinking &
Balance,
June 30
Year—
Earnings.
Taxes.
Charges.
Impt. Fds.
Surplus.
1917-18___ $1,178,396
$712,730
$325,230
$58,410
$329,090
988,223
614,333
301,643
40,660
272,030
1916-17___
OFFICERS.— Pres., Harry H. nunt; Sec.. Alvah K. Todd; Troas.,
Henry B. Sawyor; Gen. Mgrs., Stono S Wobstor M gt. Assn., Boston.—
c
V. 104. p. 1591; V. 105, p. 817; V. 106. p. 395.
C O L U M B U S, IN D .
INDIANAPOLIS COLUMBUS & SOUTHERN TRACTION CO.
Lease.— In Doc. 1912 was leased for 999 years to the Inter-State Publlo
Service C o., a subsidiary of the Middle West Utilities G o., at a rental of 6%
on the capital stock, or $92,000 a year above all taxes. V .9 5 .p .6 8 0 . See
Inter-State Public Service Co. in V. 95, p. 1745: V. 96. p. 11577
ORGANIZATION.— Formerly the Indianapolis Greenwood S Franklin
c
R R ., which company was incorporated in Indiana In 1895. Name changed
as abovein Jan. 1903. In Sept. 1912 Increased itsauth. stock to $1.840.000.
STOCK AND BONDS.— Date.
Interest. Outstanding.
Maturity.
Stock. $1.840.000...............................
.............
$1,840,000 See toxt
Flr.t mortgage, $1,000,000/ 1903
6 g F-A
932,000 Feb 11923
gold ($1,000)________ c * tf lint, at Commercial Trust Co.. Phlla., Trust.
Bonds.—Cannot be called. $68,000 are reserved for exten. and impts.
at not exceeding $15,600 per mile. See V. 76, p. 654: V. 82. p. 1212.
ROAD.—Operates 62.38 miles of track between Indianapolis, Franklin
and Columbus and Seymour, of which 3.86 miles belong to Ind. Trac. & Ter.
Co. Staudard gauge. 60-lb. T rail. Mostly private right-of-way. It
connects with Indianapolis & Louisville Elec. R y.. thus forming a through
line from Indianapolis to Louisville.
OFFICERS.— Pres.. Wm. G. Irwin: V.-P.. L. I. Sweeney: Sec. & Treas.
Hugh Miller, all of Columbus, Ind.— V. 86. p. 421; V. 95. p. 680.
C O L U M B U S , O H IO .
COLUMBUS RAILWAY. POWER & LIGHT CO.
ORGANIZATION.— Incorp. In Ohio Nov. 1913 to succoed tho Colum
bus Traction Co. (Incorp. Dec. 26 1906 as successor to tho Central Market
St. Ry., sold under creditor’s bill in Feb. 1906. subject to tho $500,000
bonds) and took over the Columbus Ry. Co. and th* Columbus Edison Co.
as per plan In V. 96, p. 1839. The leases betweon these two cos. and the
Columbus Ry. & Lt. Co. were then canceled. The Columbus Lt., Ht. S P.
c
Co. was acquired in Jan. 1915. Soo “ Elec. Ry. Section" for Jan. 1915.
Owns and operates the city street railway system of Columbus and sub
urban tines to Marble Cliff and Westerville, and the commercial eloctric light
and power systems of the city and vicinity. Franchises tor 20 84 mlloj
of railway are perpetual: others expire in 1919, 1926 and 1942. Tho fran
chises provide for 8 tickets for 25 cents and universal transfers. Two of
C O L U M B I A , S. C.
tho light and power franchises are perpetual; others expire in 1926 and 1928.
COLUMBIA RAILW AY. QAS & ELECTRIC CO.
in June 1917 a new franchise for 25 yoars was granted on tho WostorO R G A N I Z A T I O N . — D o e s t h e e n tir e s t r e e t r a ilw a y , e le c t r i c li g h t in g ,
vlllo line, providing for a zone system with a sliding scale of faros ranging
ower and gas business in Columbia, S. O.— Name changed from Columbia from 2 ^ to 6c. per zone. The company is to b° allowed to earn 6% on
llectrlc Street Ry., Light & Power to the above on M ay 15 1911. V. 92
Its then oxlstlng Investment (fixed at $350,000). and 8%
future capital
p . 1374- Is a consolidation on July 1 1905 of the Columbia Electric St. R y.. Invested. Tho public may purchase tho Westerville lino on an Increase of
at
L t. & Pow. Co. and the Columbia Water Pow. Co. The first-mentioned 10% over the actual value at time of purchase.
was organized in So. Caro. Jan. 6 1892 and was a consolidation of the Colum
Valuation.— On Mar. 18 1918 the co. submitted tho results of its appraisal
bla Elec. * Suburban Ry. Co. and the Oongaree Gas & Electric Co. Ac (ordered in June 1915 in connection with light and power ratos) to the
quired the Columbia & Eau Claire Electric Ry. Owns all the stock and Ohio P. U. Comm., placing a valuation of $7,105,809 on tho properties
bonds of the Columbia Gas Light C o., which Is also leased. Operate* under used In olectrical operation (except in railway and district heating). V.
rights granted by State of So. Caro, (which owns the city streets). expiring 106, p. 1344. In May 1918 tho engineers of tho Ohio 1*. U. Comm, placed
Dec. 16 1941. Gas franchises granted by State and city franchises covering a reproductive value of only $6,240,046 and a present valuo of $5,725,963
all departments are without limit of time.
In June 1912 acquired Parr Shoals Power Co. (stock $2,000,000 com ., all upon tho same property. V. 106, p. 2345. On Juno 21 1918 tho City
to
owned, and $300,000 prof.), which on May 30 1914 placed In operation Its Council voted106, request an appraisal of the railway property by the P. U.
p. 2756.
.
,
new hydro-electric station (present capacity 18,000 h.p.; ultimate capacity Comm. V. Feb. 25 1918 tho City Council of Columbus, O., turned
Fares.— On
30,000 h.p.) on the Broad River, near Alston, S. O ., 27K miles northwest down the co.’s application for an incroase in ticket faros to 6 tlckots for
o f Columbia, supplying the requirements of the controlling co. (V. 95, p
25 cents. They also ignored the co.’s offer to surrender its present fran
1122; V. 98. P- 154. 1844.)
chise in exchange for a now franchise giving to the city control of tho servlco,
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity. extensions, impts. and betterm’ts, on a sliding scale of faro that would pay
Common, $2,000,000 ($100).................................
$2,000,000 JIy’ 1 8 .^ % the cost of servlco, such cost to Include a reasonable return on tho Invest
Pref., $1,000,000 , 6% c u m .I ____
Q-J
894,000 Jly 18. IH ment. V. 106, p. 1036. In Aug. 1918 tho co. began charging a straight
($ 1 0 0 )................................. /
5-cont faro with a ono-cent ehargo for transfers. Tho co. has petitioned
First mortgago, $7,500,000, f 1911 5 J-J
2.685.000 July 1 1936 tho U. S. Dist. Court at Columbus to enjoin tho city from enforcing its
gold ($1,000)...............c * tf(In t. at c o .’s office or at Chemical Nat. Bk.. franchise except on lines in streets where rights in perpetuity aro claimed.
In . Y . Columbia Trust C o.. N. Y .. Trustee V. 107, p. 802.
, ,
,
,
, .
7%
300.000
...........
Parr Shoals P pfd stk $300,000 ___
City Purchase Proposal.— On Sept. 9 1918 a resolution was introduced in
Parr Shoals P 1st mtge. $3,-/ 1912 5 g A-O
3.000.000 Apr 1 1952 tho Columbus City Council to request tho Capital Issues Committee’s
000,000 ($1,000). gold c * tf IColumbia Trust C o., Trustee
approval of a bond issue by the city, the proceeds of which to be used
Col Canal Co mtg, $ 2 0 0 .0 0 0 « ___
6%
100.000 Jan. 11919
in acquiring tho company’s properties. Seo V. 107, p. 1192.
Bonds.— Of the outstanding first mtge. bonds of 1911. $60,000 are deposl
In Jan. 1916 $3,500,000 1st ref. it ext. sluklng fund bonds wore sold to
6«d to guar. int. on Canal Co. 6s. Of unissued bonds, $206,600 are reserved K. W. Clark S C o., Phlla., and Kissel, Klnnicutt & C o., N. Y., to take up
c
to retire Canal Co. bonds and $4,497,000 for improvements, additions, ac $1,206,000 notes and $1,439,000 underlying liens on tho power and light
quisitions, &c ., under certain restrictions. Bonds are subject to call on any properties, and provldo for Improvements, extensions, Ac. V. 102, p. 521.
Int. date at 105 and Int. Since July 1 1912 an amount equal to 1% of bonds
In March 1917 the Ohio P. U. Comm auth. tho co. to Issue $508,200
out must be expended for Impts., &c., against which no bonds may there Series A pref. stock at par and $1,846,000 ext. S ref. M . 5% bonds to reim
c
after be Issued, and since Dec. 15 1915 a further 1% for retirement of burse tho treasury for Impts mado in 1916 and for now extensions (prin
bonds. See V. 93. p. 229. Parr Shoals Power bonds are guaranteed, cipally the construction of a new central generating station costing ap
p. & i.. by end., by the Columbia Ry., Gas & Elec. Co. Sinking fund of proximately $1,000,000, of which tho first section was put into oporatlon
K of 1% semi-annually of bonds out from 1918 to Jan. 1 1952, incl. They about Mar. 1 1918). V. 101. p. 951; V. 105, p. 606. In Nov. 1917
are subj. to call at 105 & Int. on 60 days’ notice. Int. payable in N. Y.
the Ohio P. IJ. Comm, granted auth to issue $276,000 additional pref.
Dividends.— First div. on pref.— 3% — paid July 1 1906; Jan. 1907. 3% . stock and $1,000,000 additional 5% mtge. bonds for exts. and impts. In
None to July 1911, when accrued divs. were paid up In full; IV$% paid Dec. 1917 $750,000 of these were certified by the trusteo for expenditures
quar. slnco to and Including July 1918. Initial div. on common— K % — made. $525,666 being pledged for tho issue of tho remaining $420,000 6%
paid Oct. 1917. In 1918. Jan., >4%: July, >S%.
'
notos, due Aug. 1 1918. V. 105. P. 2271.
EARNINGS.— For calendar yoars:
In Feb. 1918 purchased a coal mine in West Virginia and othor coal prop
Year—
Gross.
*Net.
Interest. Pref.Divs. Com.Divs. Surplus. erties in order to insuro its future fuel supply.
1917............ $1,176,658 $420,553 $159,025 $51,768 $5,000 $204,760
On Dec. 16 1917 put into effect, with tho approval of tho City Council,
1916...........
918,294 284,580
153.644 49,896
.........
81,040 n skip-stop system to save fuel.
♦ After deducting operating expenses, taxes, int. on Parr Shoals bonds
Strike.— On July 2 1918 carmen who liad struck on Juno 30 1918 for
and divs. on Parr Shoals pref. stock.
liigner pay and shorter hours and the reinstatement of union carmen who
ROAD.— Operates 25.16 miles of track; 50 cars. Owns 2 power plants had been discharged, roturned to work, agreeing to submit tho controversy
with a total capacity of about 18.000 h. p.
to tho National War Labor Board. V. 107, p. 82.
OFFICERS.— Pres, and Treas.. E. W. Robertson: 1st V .-P ., Henry Par
In July 1918 issued $3,000,000 2-year 7% notes, part of tho proceeds
sons; Sec., R. Charlton Wright; Gen. M gr., A. L. Kenyon.— V. 101, p.1370; boing used to pay off $677,000 l-.vr. notes duo Aug. I 1918 and the re
V. 102, p. 975, 1060, 1625; V. 104, p. 1489; V. 106, p. 924, 929.
mainder for impts., Ac. For full details of this Issuo seo "Chronicle"
of Sept. 28 1918.
Interest. Outstanding.
Maturity.
STUCK AND BONDS—
Date.
CO LU M BU S, GA.
$6,041,236 N o v ’ 17. IK
Common. $6.080.000---------- ------- COLUMBUS ELECTRIC CO.
13.000 Apr ’ 18, 1%
4%
Prior prer stock S3,145.600---- -------ORGANIZATION.— Incorporated In Maine on Feb. 6 1903 and owns all
1,634.917 Apr 18. IK
‘ A” pref, $1,720,000 .......................
the stock of the Gas Light Co. of Columbus; the entire common stock
4,188.125 F o b ’ 18,1
‘ B pref. $4,200.000.................... .
and $121,300 of the pref. stock (out of $350,000) of the Columbus Power 1st "ref A ext sink fd M $25,-f 1915
4.200.000 Oct 1 19u
5 g A-O
C o., and all the stock of the Columbus RR. Co.; also guarantees tno bond*
666,000 g ($ i,0 0 0 )---C *tfjln t. at E. W. C la rk * Co.. Phlla., or office of
of tho Columbus Power Co. as to principal, sinking fund and Interest
I co. at Columbus. Girard Trust Co.,
Tno above companies do tho entire electric railway and lighting, gas and
I Phlla., Trustee.
power business of Columbus and vicinity and the adjoining towns of Cent Mar 1st mtge. $500,000.) 1902
5 g J-J
348.000 Jan 1 1922
Phoenix City and Girard, and a wholesale power businoss in Columbus,
gold ($1,000)...........c*.ntf/In terest at N. Y. Trust C o.. N. Y ., Trustee.
Newnan, Hogansvllle, Lagrange,.Lanetto, Trimble. Grantville, Moreland Col 3t Ry 1st. $3.000.000,f 1892
5 g J-J
3.000.000 July 1 1932
and West Point. Franchises perpetual. The freight linos aro leased to the
gold ($1.000)______ c * .n tfi Int.atco.’s offlco& E .W . Clark S Co , Phlla.
c
Seaboard Air Line Ry. for 50 years from Oct. 17 1901 at a rontal of $7,500
(Coiumbla-Kulck. Trust Co., N. Y .. Trustee.
per ann. $115,000 pref. stock is hold by the Public Service Investment Co
Orosstown 1st mtge. gold,l 1893
5 g J-D
572.000 June l 1933
In July 1917 Issued $1,500,000 2-yr. 6% gold notos and $500,000 Columbus
($1,000) $572,000 -.c * -n t f [Columbla-Knick. Trust C o., N. Y ., Trusteo.
Power Co. 1st M . 5s, to retiro $2,0OO,O0O 6% coup, notes due July 1 1917
Col Ry 1st consol mtge. $7,-| 1899
4 Q-J
3.132,000 Oct 1 1939
000 000 ($ 1 ,0 0 0 ). g. c*.n tf( Interest at Union Savings Bank & Trust Co.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity
Bond* are redeemable slnco| of Cincinnati. Trustoo, at E. W. Clark &
Com. $1,500,000 ($100).........................................
$1,500,000 ...................
Oct 1 1914 at 105 and in t.I C o.. Philadelphia, or at company’s offioo.
P rof,6% cum, $1,500,000(8100)___
J-J
1,200,000 July ’ 18.3%
1st coll M . $1,500,000. gold I 1903
5 g A-O
758,000 April 1 193S 2-yoar notos, $3,000.000_____1918
7% ,
2,500,000
„ 192«
Slock.—The prior pref. 4% stock Is Issuable only In exchange for the
($1 0 0 0 )___________ c*ntf 1Int. at Old Colony Tr. C o., Boston. Trustee
2-yoar notes $1,500,000 gold! 1917
6 g J-J
1.500.000 July 11919 $3,145,000 Columbus Ry. Co. 4% bonds and Is exchangeable any time
($100, $500 & $ 1,000)- . c * ) Int. atCommonwealth Tr. C o., Host.,Trust. prior to Oct. 1 1924 Into 1st ref. and ext. sink. fd. 5% bonds on the basis
Columbus Pow 1st M $4,000,-1 1906
5 g A-O
3,153,000 April 1 1936 of $850 or bonds for $1.000 of stock. As of Jan. 11918 $13,000 stock had
000 gold guar_______c*tf\Int. at Commonw. Tr. C o., Boston, trustee. been issued In exchange for Columbus Ry. bonds.
C O L O R A D O S P R IN G S , C O L .
COLORADO SPRINGS & INTERURBAN R Y.
ORGANIZATION.— Incorporated in Aug. 1902 as a consolidation of the
Colorado SpringB Rapid Transit Ry. and the Colorado Springs & Suburban
R y. The consolidated comnany has Issued $1,500,000 stock, of whlcti
$500,000 prof. Bonds ($1,000, 5. M .-S.. due Sept. 1932, Central Trust C o.,
N. Y ., trustee) auth. and issued, $1 500,000.
ROAD.— Owns 38 miles of track.
OFFICERS.— Pres., D. H. Rice; V.-P., W. Lennox; Sec.. W m. Lloyd;
Treas., C . S. Chamberlin.— V. 70. p. 75. 175. 328.
g
Se p t . 11)18
ELECTRIC RAILWAY.'
33
Outstanding. Maturity.
Date. Interest.
STOCK AND BONDS—
nontii — Of the 1st ref. A ext. sinking fund bonds, S'i,050 0(10 are reserved
$1,000
($100)
for underlying liens, $ 1 ,475,000 are In treasury and the bal. Is reserved for Stock $10,000 1.009iqOO goid\ 1910 jT* J-D '
First* mtge '$
433'000 June 1 1935
Improvements, extensions. Ac.. at 8 5% f cash cost or fair valuation which
($500) g u a r p * I ........ .c*|Int. atOit. Tr. A Sav Bk.. C o l u m b u s . Trust.
ever is less under conservative restrictions
Callable at 105 and hit on
Ronds — Remaining bonds reserved for acquisition of additional real
any int. date on 60 days' notice, i’enn. State tax refunded on bO days
Impts.. &c. Not subject to
notice." Sinking fund o f 1% per annum of bonds outstanding begins estate, Iadditions. Pres.. Dana Stevens; V.-P.. J.call. Sundmaker; Secretary
OFF CERS —
H
Or* 1 1020 The Central Market bonds are redeemable at any time at
1 1 0 ‘ and int. on 60 days' notice.
Sinking fund o f 5% of gross earnings & Treas.. F A Healy — V 92. p 1564; V. 93. p. 1532 1599
(2) The Indiana C olum bus & Eastern T raction C o .— A trolley road.
began In 1907 $152,000 held In sinking fund. The Crosstown St. Ky.
Leased to the Ohio Electric Ry. Aug 31 1907 Latter company guaranmt«e was for $2,000,000 but was closed at $572,000. Int. payable at
f f l m t a s n d E W . Clark & Co.. Phila. Columbus lly. Co. mtge. has ees interest on bonds and 5% dlvs. on pref. stock and owns entire com. stk.
been closed $3,428,000 bonds were issued thereunder, of which $283,000
ORGANIZATION.— Incorporated In Ohio on April 14 1900 and has ac
w ^ e canceled. $13,000 had been exchanged Tor 4% prior pret. stock to quired the Davtoo Springfield A Urbana Elec. Ry.. the Columbus London
Jan l 1 9 1 8 . Aro callable at 105 and int. on any interest date
& Springfield Ry . the Columbus Grove City A Southwestern R y.. the
Dividends— An initial div. of 1 'A % was paid on the Senes “ A ” prof, stock Urbana Bellefontaine A Northern R y., the Springfield A Western Ry., the
Anri I 1914- same rate quar. to and incl. Apr. 1918; none since. On Series Dayton A Northern Traction Co. and about 12 miles of the Dayton &
“ m” Initial div of 1 A % paid in May 1914 and same rate quar. since to and Muncie Traction Co., extending from Greenville to Union City on the
lncl Feb 1918. None since. On prior pref. initial div. o f 1% was paid in Indlana-Ohio State line. Has also acquired the Columbus A Lake Michigan
Oct 1915' same rate quar. to and incl. Apr. 1918; none since. On common. RR.. a steam road operating between Lima and Defiance, which has been
Initial div' of 1 A % was paid in May 1914 and same rate quar. to and lncl. converted Into electricity
_ .
.
.
N ov 1917. Feb. 1918 div. passed (V. 106, p. 498).
Leases the Dayton A Western Traction Co. and the Columbus Newark &
Zanesville Elec Rv.. which latter company had previously absorbed the
REPORT. For years ending Dec. 3 1 : ^
m 5.
lg u .
Columbus Buckeye Lake A NewaYk Traction Co. and the Zanesville Ry. L t,
Revenue passengers____ 67.498,715 66.050,414 61.002.066 62.837.925 A Power Co. These leases were assigned to the Ohio Elec. Ry Aug 31 1907.
The new general and refunding mortgage bonds were listed on the Phila
iTransfer p a ssen g ers"!. 15,737AM 15,924,643 15,154,400 16.111,634
delphia StocK Exchange In February 1907. V 84. p 339
See description
Total passengers
. . 83,230,147 82,575.057 76.210.526 78.949.559 of bonds, property. Ac.. In V. 83, p. 37.
a, '
Favorable Tax Derision.—See remarks under Cincinnati Street Ry.
K nowattp S s o . d : : : . 5 6 . 3 9 1 : 8 9 3
4 0 .7 7 2 . 2 3 9
3 1 .0 2 0 . 8 5 2
2 7 .4 7 1 . 9 0 1
STOCK AND BONDS—
Date. Interest.
Outstanding
Maturity
Railway opwf revenues!\ 4,024’,186l $2,248,918 $2.039',383 *2.086'.269 Common. $3,025,000 ( $ 1 0 0 ) ..------ — - - - - S3.025.000 - - - - - - - -
Power. lig h t^ e a t. A c ..)
\ 1.288,482
1.073,792
980,030 Preferred! $1,000,000 ($100)----------5%
1.000.000 See text.
6 .650 000 May t 1928
Gen and ref mtge (see text) 1906 5 g M-N
Total gross revenues. $4.024.186 $3,537,400 $3,113,175 $3,006,299
gold ($1.000)--------------C* Int. at Pa.Co.for Ins.on L.AO A .Phlla.,Trus.
$1,432,275 $1,200,738 $1,179,553 Col Lon A Spg 1st mtge. $1, 1900 5 g A-O
500.000 Oct 1 1920
Net. after taxes...............*l-0f0.257
$479,461
$476,281
$516,373
Interest, A c----------------$o58,5»y
500,000. gold ($ .0 0 ) - _c* Int. at N. Y. Trust Go .New York. Trustee.
$40,978 Day Spg A Urb 11st 0mtge, 1898 5 g M-N
750.000 Nov 1 1928
Dlvs. paid as ren tals...
-----
520
Prior pref. stocu (4% ),-520
$750,000. gold (* 1 .0 0 0 ) - - - Interest at N Y T ™ ' 1 a fj Y
O
($1.000)..45.000
76,218
75,978
Pref. dlvs. Senes A
98,691
Bonds.—The gen and ref. rarge. was originally for $ 1 2 ,0 0 0 ,0 0 0 but auth.
199.145 amount has been reduced to $10,000,000. Of the rema n ne bonds $250.
209,170
209,145
P-pf #1V senes D - - t 209,155
1 S
1IK
J
A J , I tu
K iJ
Pref. dlvs. Series B
Common dividends. . . . (3^)226,542 (5) 300,705 (5) 302,106 (5( 302.106 000 are treas bonds deposited with trustee and are available for ex tens. A
impts. when net earns, are equal to 1 Vi times Int. charge* on bonds out
$112,863 and to be issued $1,250,000 are held to retire the underlying Ifensglven
Bal. for renew..depr.,Ac. def.$13,240
$329,229
$203,228
In table above
The remaining S2.100.000 areraserved for future better
LATEST EARNINGS. — For 12 months ending Juno 30:
,
Year—
Gross.
Net (aft. Tax.) Int. A c. Dividends. Surplus. ments. improvement* and extensions, and can only be issued as follows:
*1,100,000 when net Income Is equal to 1 H times Int charges on all bonds.
____$4,229,372 $1,145,148 $015,711
$307,709
$22f,668
ip 17.18
Including those to be Issued, and $1,000,000 when net Is equal to twice Int.
1916-17- - ______ 3,747,491
1,273,218 531,282
292,654
449,282
to
to call in
ROAD A C .— 149.34 miles single track, Including 14.21 miles operated charges, lncl Int. on bonds 105be Issued. These bonds are subject& Spring
whole, but
and Int.
London
under contract. 349 passenger, 2 freight and 53 other cars. 5 steam field bonds not In part, at at 110 and Int.The Columbusond op these bondmay be called
A sinking '
newer stations with 40.560 k. w capacity.
......................
earnings began
ending Sept 30
P O F F I C E R S — Pres., Samuel G. M cM cen ; V .-P ., C . M . Clark: V .-I ., of 5% of$gross 0 0 In sink, fund with year1917. The Day 1906 Seei V 71.
p. 063.
1 9 2 ,0
Dec. 31
Sprln-’ fleld A Ur
Gen M gr & Treas., E . IC. Stowart; V .-P ., Norman M cD . C rawford; Sec. bana bonds are subl to call at 110 and Int. A sink fund of 5% of gross
A Aud P V. llurington; Asst. Sec. A Asst. A n d ., Herbert M . Burington. earnings began in 1903
$180,000 In sinking fund Dee 31 1917.
M anaged b y E . W . Clark & C o. M g t. C orp .— V. 106, p. 1344, 1401, 2345,
ROAD.—Columbus to Orient, Columbus.through Springfield to Day
2450?2756; V . 107. p. 82, 181. 802, 1192.
ton. Dayton to Union Olty and Richmond, Ind . Springfield to Lima,
through Lima to Defiance,O. Total miles of track (electric) owned, 2/7.15:
leased 139.S7; total. 117.02. Standard gauge
5 power houses 231 cars.
ORGANIZATION:— incorpAMay°16 1907 in Ohio. On Aug. 31 1907
OFFICERS — Pres.. Dana Stevens; V.-P . J. H Sundmaker; Sec and
nurchased the Lima A Toledo Traction C o., which owned the line from Lima Treas., F. A Healy; Asst. Sec. A Asst. Treas.. J. M Pogue.—V 85. p.
to T o h X . and leased the Lima Elec. Ry. & Lt. Co. (this eo. being pur
600: V. 8 6 . p 721: V 87 p. 37.
chased on Dec. 31 1909), which operates in the city of Lima, and the Ft
(a) Dayton & Western T ra ction .— Trolley road.
Wayne Van Wert A Lima Trac., with a line from Lima. O., to Ft Wayne
Ind
Also acquired by lease the Indiana Col. A East. Trac.. which com
ORGANIZATION.— Incorporated on June 26 1898. Was leased on June
nany assigned to It the leases of Col. Newark A ZanwylHe Elec. Ry . And 15 1906 to ind. Colum. A East. (V. 82, p. 1437)
For terms, see below.
Slayton & Western Trac
On Feb. 1 1908 purchased the Cine. Northern
Favorable Tax Derision.— See remarks under Cincinnati Street Ry.
Trac. (subsequently dissolved) and acquired from that company Its lease
STOCK__
Div. Period. Outstand’g. Last Dividend•
o f Cine. Dayton A Toledo Traction (sold under foreclosure June 30 1917)
Q-J *«72.500
See text.
Including city lines in Zanesville, Newara, Lima, Hamilton and other Common, $900,000 ($100)...................
5% cu m ............... Q-M
850.0( 0
See text.
nolnts. operating mileage Is 613-45 miles extending from Zanwville on Pref, $850,000 ($100)faking effect June 15 1906 provide l tor 5% per annum
the east via Newark to Columous (including line from Columbus to Orient on Dividends,-Lease on com stock In 1906 and 190T 5 ^ % in 1908 and
and Buckeye Lake and Newark to Granville branches) thence Jhrough 8 % pref. stock and 5%
dated Feb.
payment on
Springfield to Dayton, and from Dayton to Union City, where connection Is the thereafter, but under modified leaseEarnings In 7 1916 the Hie required
com. stock
to
excess of
made with Union Trac Co. of Indiana for Muncle. Anderson and Indianap rental payments was reduced per 3% .
00
annum
betterments
olis Ind. and from Dayton to Richmond, Ind.. where connection Is made to be paid to the and $ 1 0 ,0stockholders upfor additions and 3% per ann. are
common
to an
for
with T. II- I & K- Trac to Indianapolis, extending north from Springfield 1st 5 years. Beginning with the 6 th year, the additional company Is en
operating
through Urbana and Bellefontaine to Lima, and from Lima to Defiance; to titled to receive. If earned, before paying the additional 3% on the com.
Toledo O.. and Ft. Wayne. Ind.; also from Dayton to Cincinnati, including stock, $ 1 0 ,0 0 0 per annum as compensation for operations
As
the
Germantown. M t. Healthy and College Hill branch.*. Electric light and agreement, the Ohio Electric Ry. surrendered $75,000 Dayt. A w part of stk.
com.
nower business Is conducted In cities of Zanesville. Lima anc^ West Alex
HOAD — Dayton. O., to Richmond, Ind., with branch from New, Weslandria and steam-heating plant in Lima
. ,,
„
,
Paris,
In May 1913 was granted authority to Issue $3,500,00012d mtge. bonds, ville to New ind A 39.54 miles. At Richmond connection Is made with
Terre Haute
East.
operation
nrovlded $5,000,000 of outstanding stock was rotired. This was accord cars from Indianapolis, viaTrac., making possible thedistance of of through
Dayton, to Columbus, a
194 miles.
ingly done. V. 96. P- 1365. 1840- V. 97, p. 299.
, ,
OFFICERS. —Pres and
F A FimkIn July 1917 the Ohio P. U. Comm, authorized the issue of $100,000 houser; Sec.. Henry Loy: Treas., Valentine Winters. \ -I
Asst. Sec. A Treas G. A. Funkhouser Jr., all
equipment notes, the proceeds to be used to pay in part for 4 motor exof Dayton. V. 82. D 1437; V. 83, p. 36, 94. 379.
nrnss cars 10 flat cars and 16 box cars.
. A
,
(b) Colum bus Newark & Zanesville Electric Ry C o , - A trolley road.
V iVuae Increase.— Effective Feb. 15 1918, wages o f carmen on lnterurban
lines were increased 4 cents per hour.
V. 100, p. 929. A general increase
ORGANIZATION.— Incorporated in Ohio on July 2 1902, and In April
o f 5 conts per hour was granted in A ug. 1918. V. 107, P- 604.
1904 absorbed the Newark A Granville Street Ry In June 1906 acquired
0 f Fare Increase.— In July 1918 was auth. by the Ohio P. S. C om m , to the Columbus Buckeye Lake A Newark Traction O p .,t l f preferred share
increase passenger fares effective A ug. 1 1918. V . 107, p. 402. In June holders being given $500,000 In pref. stock for their holdings
Also took
1918 applied for auth. to raise freight rates 2 5 % . V. 10b, p. 2649.
over the Zanesv Ky Light A Power Co. and was then leased on June 23
— BONDS—
" ■
* ■ • Outstanding. Mat uri t y
1906 to the Indiana Golurn. A East. Trac. Co. for length of franchise and
sTOOli AND ......... .
Date. Interest. " iW—
renewals thereof
Rental Is Interest on bonds, an amount equal to 6 % on
$8,000,000 ..................
Common $8,000,000 ($100)................................
the preferred stock and $500 for organization expenses. V 83 p. 625.
Preferred, ffLOOO.OOO 5% non
____ _
3 ,0 0 0 .0 0 0
See text.
Private right of way from Newark to Zanesville, ^onchises on other lines
4 ,2 0 0 .0 0 0 Jan 1 1930
expire 1925 to 192S
F.ntlre common stock Is owned by ° b lc
R7 Co.
1 s t A?ref.1 mtge. $15,000,666 1910 5 g J -j"
Favorable Tax Derision —See remarks under Cincinnati Street Rv
Int. at Fidelity Trust Co.. Phlla.. Trustee
2.927,200 June 1 1943
2nd” A gen'mtge $5.o6o,66o. 1913 5 g J-D
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity.
^ g o id (iTooT(*5°0) I f l .000) Int. at Fidelity Trust C o.. Phlla.. Trustee.
32.000 See text.
Equip notes Series A $160. 1910 5 g J-J
1st mtge, $2,000,000. gold] 1904 5 g M-S
1 250 000 Mch 1 1924
0 0 0 gold ($ 1 .0 0 °) - - ,y n
c Int. at Fidelity Trust Co.. Phlla.. Trustee
$39,000 See text.
($1 000
........ - .c* Int. at Columbia Tr. Co . N Y trustee.
Equip notes Series B $130,- 1911 5 g J-J
OoO gold (1 1 .0 0 0 ) - - - - - -c* Int. at Fidelity Trust Co . Phlla., Trustee
Gen A ref mtge gold. $6.-1 1906 5 g M-N
1,211.000 May 1 1926
1912 5 g J-D
4 8 .0 0 0
See text.
Equip notes Series O $129.-) f —
IffiO 000 ($1 000)
c*jIn t. at Girard Trust Co.. Phlla . Trustee.
Int. at
000 gold ($ 1 ,0 0 0 ) - - - - - c * ( I n t a Fidelity Trust Co . Phlla.. Trustee
O B L 4 N 1st mtge .'$1,500,-1 1901 5 g M-N
1 243.000 Nov 1 1921
*“ *.4
5 g M-S
55.000 See text.
000 gold ($1 000)
. --C*fInt. at Columbia Tr. Co., N Y.. trustee.
Equip notes Series D JlOO-"/.'®1!
...... gold
1U
................ at Fidelity Trust Co. Phlla. Trustee
Zanesvflle Ry. Lt A Pow 1st f 1902 5 g M-S
750.000 Mar t 1924
000 „ U ($ 1,00 0)---EniVin notes *‘ E ” '$130,000/ 1917 6 g J-J
120.000, See text.
cons mortgage. $1,000.0001 int. at Cent. Tr. A S D C o.,O tnc.. Trustee.
($1 000) g ______? .--C * tf Int. at Fidelity Trust C o., Phlla., Trustee
($500, $1,000). gold . ,c*\ or Trust Co. of America New York.
gjoeX.— Preferred Is red. at 105 on 30 days' notice.
Registrar, Guardian Trust A Safe Deposit (Jo., Zanesville Ohio
Bonds — $3,250,000 1st A ref. bonds are reserved to retire prior liens
(Si 250 000 bonds of Lima El. Ry. A Lt. Co. and $2 ,0 0 0 ,0 0 0 bonds of
Ft Wayne Van Wert A Lima Trac. Co.) and $7,550,000 for additions,
Bonds.—Ot then$t?.250?OOOgenT ^ ree
f?'bonds. $3,493,000 are reserved to
hettorments, Ac.
Entire Issue Is subject to call on any Interest day
at 105 and Interest on 5 3 days notice.
No singing fund.
The retire prior liens and $1,546.000 Tor betterments and extensions. They are
subject to call after 5 years at 105 and Int. Under terms of this m W - . none
9 nd A gen mtge. issue Is subj. to call on any int. date for payment In cash
The entire
nr for substitution of 1st A ref. mtge. bonds of 1910 exchangeable at par of the $750,000 1st mtge. bonds unissued can now be Issued
Issue of Col. New A Zanesv 1st 5s can be called at 110 and Int. on any Int.
nn 8 weeks’ notice. Bonds to bo delivered for purposes of Impts.. as ap
nrnved by Public Service Commission of Ohio or other governmental <tote V 80. p 1234. The Col. Buck. L. A New bonds are subject to
Zanesville Ry..
authority; No sk. fd. Mortgage covers , II properties and leasehold call on any int date at 110 and Int. on 3 months notice
«)*tB sub! to underlying Hen. Series “ A' equip, notes mature $8,000 Lt. A Power bonds fell due Oct. 1 1912 but were extended to Mar. 1 1924.
„ _ ...
_
Eml ana commencing Jan. 1 1011. Series "B * equip, notes are 1st $250 0 0 0 reserved to retire underlying bonds
* ROAD.— Operates 95.85 miles of track from Columbus to Zanesville,
mtoe o n :26cara. They mature semi-ann. ($7,000 Jan 1 and $6,000 July 1
from Jan 1 1912 to July 1 1921, lncl. Series ‘C ' equip, notes are 1st mtge. including the city line* in Zanesville. Newark and Granville and a branch
to Buckeye Lake Operates lighting and power plants In Zanesville.
oiv 43 cars and mature $6,000 somi-ann. beginning Dec. 1 1912. Series D
Also owns amuse
equip notos mature $5,000 semi-annually beginning Sept. 1 1914. Series Standard gauge: 60 and 70-lb. T rail and 90-lb. girder
ment park on Buckeye Lake. Owns and operates Its Hebron power plant
8 % " equip, notes aro divided into Series "E 1" and Series “ E 2,” amounting
to $ 1 0 0 ,0 0 0 and $30,000, respectively, the former having priority. They
lO
mature $5,000 s.-a. until Jan. 1 1928, when $15,000 Is payable s.-a. to W F FlC E R 8na-Pn*sKaf)ana Stevens; V .-P.. J H Sundmaker Sec. and
maturity. All Issues of equip, notes are guar., p. A i., by end. ot Ohio El. Ry. Treas , F A. Ilealy.— V. 87, p. 37; V. 95, p. 47, 890, 1039; V. 106, p. 924.
(3) Lima Electric Railway & L igh t.— A trolley road
Acquired by purchase by Ohio Electric Ry. Dec. 31 1909
« 1 ooq
In Ililt). gross iroill rdiinaj, ■IO.i - i .W .i, U U aim J x y
.T
KU
jx v x
ORGANIZATION.—The company Is a consolidation completed Aug. 1
|4699 T2 6 : misc.. $18,433: total, $4,148,918: net, after taxes, $1,595,533.
1900 of the Lima Ry. (Incorporated Nov. 5 1896) and the Lima Electric
OFFICERS.— Pres., W. Easley Schoepf; V .-P., Dana Stevens; See. A
Light
Was leased July 1 1905 to the Lima A Toledo Traction,
TrV.V F A Healy Gon. Mgr., It. G. Gilpin. General offices, lnterurban which A Power Co
lease was assigned to Ohio Electric Ry. Aug. 31 1907.
& d g 'S p 'rin k fleld % bl^ -V g 102, p. 801; V. 103I p .1593; V. 105. p. 181.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
180l; V . 106?P- 929, 2649. 2758; V. 107, p. 83. 402, 604.
(1) C olum bus lnterurban Terminal Co.
Entire stock owned by Ohio Elec. Ry.. which guar, bonds.
ORGAN IZATION .— Incorp. In Ohio on May 24 1910. Owns and
operates since Jan. 1 1912 passenger and freight terminal stations In Columb.
2d?n'.(now9 st)mtg!$85b".66d,7 1902
5*g A-O
350^00 Apr V 1925
ffohi ($1 000) . - ____ c*\Int. at Fidelity Trust C o.. Buffalo, Trustee.
Lima Elec’ Ry A Light, reff 1905
5 g M-S
900,000 Sept 1 1925
mortgage. $\.250.000. goldlln t. at Girard T r. C o.. Phlia.. Pa.. Trustee
34
ELECTRIC RAILWAYS
(Vol . 107.
Bonds.— The bonds o f 1902 area Hen on the electric-light and heating
C<wmJttM/or 1»< M . 5s.— Rudolph Kleybolte Chairman; W m .R . Craven.
P n* - 1
j*L
jpll
on the railway. Cannot be called before maturity. $350,i
‘ )Ve‘ls* Ed- E- Newman and John T . Tyler.
bonds are reserved to retire prior liens.
Offices, 18 E. 24th St.. Cincinnati, and Room 1304. 60 B ’way, N . Y .
ROAD.— Owns 10 .91 miles of track, also a steam-beating plant (franchise Depositary, Cleveland Trust Co. V. 103, p. 1687. 1792.
* perpetual operated In connection with the electric-lighting plant). OonORGANM iATION.-Incorporated In 1901.
r?w2#!ss?£® t0r, clty b*btlng expires April 1919.
i
™
. j , DatS.'
Interest. Outstanding.
Maturity.
O F F IC E R S — I res.. Dana Stevens; V.-Ps., J. H. Sundmaker; Sec. & 1
*1*000,000, gold f 1901
5 g M -N $1,000,000 M ay 11921
reas., F . A . Healy, Springfield, Ohio.— V, 81, p. 155, 1100.
($ 1.00 0)...........................c* jln t. at Cle\ land Trust Co.. Cleveland.
LJ™a T raction C o.— A trolley road.
ORGANIZA N o n .— On Mar. 1 1906 was loaned, until expiration of franB onds.-See V 75. p. 76. ( TrUSte0’ ° r BaDkCrS TrUSt C°- ,B N> Y *
chlses and renewals thereof, to Lima A Toledo Traction C o., which guaran
< e*
in ectrJc railway (of which 33 miles over private
teed the Interest. V. 82. p. 691. Lease was assigned to Ohio Electric Ry. right of way) from Columbus to Marion, passing through Franklin, Dela* 5 « r
“
* Tbp latter company owns all the common stock. Incorpor
at?d Marlon counties. Also 4 miles in the City of Delaware, a total
ated In Indiana and Ohio. Road Is entirely on private right-of-way excep
o f . 7 ™il^-— V. 91, p. 94o; V. 93, p. 1190; V. 105, p. 1418; V. 107, p. 905.
6
In towna, whore It has 25 or 50-year franchises.
o r o a v i ? * T m M rth, rn R y* lJ°.w.er £ Equipment Co.
e
Favorable Tax Decision.— See remarks under Cincinnati Street Ry.
ORGANIZA I ION.— Incorporated In Ohio on Oct. 24 1904 to erect a
sub-stations to supply
for power
n nJm ™ K »1^w i ftnnN in m
8
«
Date.
Interest. Outstanding. Maturity. |nd “ 0a*- Tho Delawareand coupon and subsequentelectricity wore paid
March 1914
coupons
_
SI 0 0 0 0 0 0
Common, SI ,000,000 ( $ 1 0 0 ) ..____
Pref, SI,000,000, 5% n-c($10 0)____
___ ____
*1 000 000
D ec01} 1918^er
matured. Sept. 1918 coupon will probably bo paid
Fhst mtge $2 000,000. gold ( 1905
5 g J-J
11470.0 0 0 JuIyT llW O
(SI.(W O)-.-.*;*lint, at Fidelity Trust C o., Phila., Trustee
, 3 o o . o o « . jT S ’
f
^
$2,000,000 bonds, $530,000 are reserved for extensions
M B n 5 ? iOT« i
.,v * 8 2 , p. 691. Are not subject to call
vri?„OA I.7~6 ir-6 3
o f electric track from Ft. Wayne via New Haven,
^om-oevlUe, Van Wert, Mlddlepolnt, Delphos and Ellda to Lima. ComVTIn1
corpc?.r a t ? 1 „ln. . ° hI° 0n June 24 1903 and Is a
complste operation Nov. 13 1905. Connects at Ft. Wayne with LlSht * p i *
Marlon Street Railway Co. and the Marlon Electric
the Ft. Wayne & Nor. Ind. Trac. and at Lima with the Ohio Elec. R y.
and forms part of through line from Ft. Wayne to Toledo. Dayton and
Columbus. Standard gauge. 70-lb. T rails.
r r a OFFICERS.— Pres., Walter A. Draper; V .-P ., J . H. Sundmaker; Sec. u f s s ^ s u ( * i .o o o > - c * i ? « o 4 - . I r a and Treas., F. A. Healy.— V. 82, p. 691, 804: V. 83. p. 37.
K r. i i <
T
- - >r,n** at'Guaranty Trust C o., N . Y ., Trustee.
Hunds.— No staking fund and bonds cannot be called.
ROAD.— 4 miles of track in Marlon. Standard gauge. 60 and 70-lb.rail.
C IN C IN N A TI & D A Y T O N T R A C T IO N CO.
Organization. Incorp- April 26 1918 with $1,250,000 auth. capital stock,
as successor to the Cincinnati Dayton & Toledo Traction Co., whose troheyLG^ BUS NEW ALBANY & JOHNSTOWN TRACTION CO.— A
Aold. at foreclosure on June 30 1917 to the committee for the
—
$2,700,000 C. D. & T. 1st cons. 5s for $400,000, subject to $2,300,000 mJ?«RGAI\IZ,AT TON* Incorporated In Ohio on May 4 1899. In May
underlying mortgages. Holders o f about $250,000 undeposited bonds will
receive about $148 for each $1,000 bond in settlement.
Has been auth. to issue $4,500,000 20-year 5% bonds to cover present
0
MatUrUv'
a ofo£ure J ced* an< provide for retirement of underlying bonds. V. 106 Comrmo°nK$40N !0 0 0 ? $ ^ w r :-- ™
s
!
6% cum- *2oo*ooot ...............: : : : : :
2 0 0 :0 0 0 : : : : : : : : : :
p. 2122. Compare V. 106, p. 1461.
3V
dy j
operation and management of tho
^ / r , ! 905., 5 « J-J
None. Jan 11926
V ei0 6 S P 2750 n thG hands of the Warren Ricknell Co. o f Cleveland, O. F
S00)........ ,,^ > PrSv * Sav* nank * 'r r - Co., cin e.. Trustee.
Committee ‘ or C. D A T . 1st Cons. 6s.— Leo J. Van Lahr, James M . 551 ? 7 7 9°
/
J
y^ L emi l n,L ? e<:- 'A x ? 172 frross- *44,887; net profits,
1
,r>Ar> ta5?s and tnlsc., $2,447; net gain from operation, $11,295.
Hutton, Claude Ashbrook. Edgar Frledlander and Otto Armleder. De ®1 D
n
P 1^ 8o 8, mli!5 of track from Columbus to Gahanna, Includ«era
S
positary, Provident Sav. Bank A Trust C o ., Cincinnati. For statement by t
if ° f4 r o i s
C
k
Ootambus Ry. as terminal:
committee, see V. 102. p. 436. See also V. 102, p. 800.
gauge, 5 rt. 2 In.. 65-lb. T rail.— V. 91, p. 1629: V. 92, p. 1032, 1498.
Committee for Cine. & Ham. Elec. 1st 6 s.— W. S. Hayden and E. V. Hale,
nuw »2r -An)botV m0 CV 121
8
H.iamson Hidg„ Cleveland. Deposi
TRACTION CO.— Third rail.
tary, Cltixens Say. A Tr. C o., Cleveland. Committee arranged t o adionAKGRm i «nT 7 ?iN ‘r
Z
Kfpfirated
°h io with a perpetual
▼ance as a loan to depositing bondholders the amount of the unpaid coupons. 1004. Built on private , i,C of wav. lnFranchises extend beyondcharter in
right
maturity
Comnnttee for S. O. T. Co. 1st Cons. 5s.— Chairman, R. M . Stinson;
n V w i^ 90 8 x9ai?ce' ed *2.000.000 mtge. of 1903 and made
Livingston E. Jones and Edward E. Newman, Sec. Depositaries: Cleve n o i
8ee below. Stockholders voted Sept. 22
land Trust Co. and Girard Trust Co. The May 1 i g i 8 interest was not ? o n u *i 4° f
1^08, authorizing J.iOO.OOO new 6 % first preferred stock, which ranks
paid when due. V. 106, p. 2228; V. 107, p . 291.
ahead of old preferred stock (V. 87. p. 481 and 615).
Stock.°^lK25CK)00BC>Nr)S—
Date"
Interest- OuHtandlnp. Maturity. * 2 0 0 ntfn ' w 1?»»hne2 r I ^ w Comiu- auth. the issuance of tho remaining
h
? 2p 0 '? 0 0 o% 1st pref. stock to acquire the entire stock of the Columbus
-------------- $1,250,000
1 st A Ref. Cons. M tg elZ IIII 1918.
5%
(?)
1938
was Incorporated In 1912 In the interest of the company
Underlying Issues—
to build a terminal In Columbus. V. 102, p. 1626.
v 7
Southern Ohio Trac 1st consf 1900
'eased from the State of Ohio for 25 years at an annua!
T n l f ‘o W
, S
to Afirn St., about i i miles, tar a canalentrance Intothe Loekbourne Road
i
t
bed m the, old new fee<Ier from Columbus.
to Main
11
EleC
(5600,( 1898n^*flg"j-JSt C° ” 40oloOO°Jaiy 1 1918 . Rate Increase Asked.— In July 1918 applied to the Ohio P S Comm
$500,000, not subj to c a ll., lin t, at Clt. Sav. & Tr. Co Clove Trustee for authority to increase freight rates 2 5 % .
Lom m '
Dayton Traction 1st M , r j 1896
5 g J-J
250 000 Mav 1 1 0 9 0
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
($1,000), lnt guar - - - - - - C*ll nt . at Finance Co o f Penn.’, Phila., Trustee0 Common, $1,800,000 ($100)..
- - - - $1,800,000
Ham A Lindenwald El Tran) 1901
5 g J-D
250 000 Julv 1 1 0 9 9 1st pref. $500,000, 5% c u m ...
Q-J
500,000 JuIy7fS r ij
nnoiM |f,tf ®n»°'°00' ?
Interest at Cleveland Trust C o., tru s te e ! ^ fs in o )!'200,000' 5% cum|
1 .2 0 0 .0 0 0 -July 18. l ]
Miam A Germ lst guar ($50.-/ 1901
5 g J-D
50000 Tniv i 1 0 9 9 1st mortg',' V4'66oro'do." gold T
teTnnrn'
V I . / t 1? 08* tt® ¥"2.
1.620,000 Sept 1 1923
000). gold ($1,000).........c*(interest at Cincinnati Trulst C o./T ru ste e
iH a u m V V f
f J nt j at narrl? Tr. A Sav. Bk.,Chic.. Trusteo.
Bonds — None of the underlying Issues Is subject to call.
„_®27df * ~ Add. t'ona' 1st M. bonds can only be Issued for 76% of cash exl
O f j n . $2,008,000 South. Ohio Traction bonds. $650,000 are reserved to pe?d ^yre8’ aud 7°r permanent, extensions and additions to property, and
ifatis FJ phff
Blectric bonds and Dayton Traction bonds. Issue
^ b^? I?et
ar® twice tho tat. charge on outstanding bonds and
n Philadelphia Stock Exchange. The Dayton Traction 5« matured
om n
' ' ? nd» baTe a sinking fund of 1 % per ann. on bonds out
originally on July 1 1916, but were extended to M ay 1 1920. TheCln. &
to l917, thereafter 2% per ann. $80,000 have been retired. They are
Ham. Elec. 1st 6s duo July 1 1918 have not been paid.
n i f e j Par^cli j r? ' bonds, property. A c., in V. 87. p. 679.
^ fin d . J*1 0- Tran- and Mlamlsb. A Germ, bonds originally
®
Dividends on old Issue of pref. stock were to accrue from
fell due Dec. 1 1911, but arrangements were made at that time to extend
a“ ^U
?H d,V° J a a - 1 lp0d “ nd April 1 1906 were relinquished
*2
K V* 9 rt p* \3§8/ . } 3? 7• Annual sinking fund of 5% on P )fih, V h
«9d n l A In i 00T and since,a? pa,d annum.
d
* Lind, bonds began Dec. 1 1906, Increasing 1% each year up to f o i l . 1 H
ffARM iw'flfl ''440). ^ 1907 (1^ y?) W 5% perJuly 1906 and 1M% Oct.
$57,000 In sinking fund May 1 1918.
v
“
EARNINGS.— For 12 months ending Juno 30:
ROAD.— Owns 91.07 miles of electric track, connecting Cincinnati with
Dayton, Incl. Germantown, M t. Healthy and College Hill branches and the
Hamilton city lines. Carries freight and express.
a
FI2 E£_S'~ F res’ ' 3 v M . Hutton; V.-P., O. Armleder; Sec., Claude
T
Ashbrook; Treas., Lea J. Van Lahr. Under management o f the Warren
Rev pass carried In 1917-18, 1,797,504, agst. 1,394,728 in 1916-17.
Bicknell C o., Cleve., O.— V. 106, p .2 9 5 ,1900, 2122, 2756, V. 107, p. 291.
p*
lrarlKi,7? uilles of track from Columbus to l^ncaster and
operated by third-rail system. Standard
COLUA1BUS DELAWARE & MARION ELECTRIC CO.
I a#
’ Within city limits of Columbus, company operates
O R GAN IZATION .— Incorp. in Ohio Juno 12 1917 to take over the ° OFFICERH C°pr1“ b,is ? y l>owIi * ,L t; Ct,\ u,ld,,r oper a8 reement.
A'
properties of the Columbus Delawaro A Marion Ity., sold undor foreclosure w.iWiA r ahH T i re8' ? a J ,L 1 p- Praal£ A. Davis; V.-Pres and Treas.
L
< V?
^
A -O -M oorhaus. Supt., C. Skinner. —V. 87, p. 481
Juu011 1917, subject to underlying mortgages aggregating $1,533,000 fii *^R7 o
(which, however were not assumed by tho O. D. A M . Elec. Co., the rights 615, 679; V. 91, p. 871; V. 102, p. 1437, 1626; V. 107, p. 83.
of such bondholders being neither enlarged nor diminished). Owns the
™
; ‘ ocIf* ° f the Columbus Delaware A Marlon Elec. R R . ($ 1 ,§P9*00°>•
Marlon Ry Lt. A Power Co. ($300,000) and the Columbus
rnniwi^ wards of Concord to Peuacook. Comprised 12.71 mllwi or track
9
Northern Ry. Power A Equipment Co. ($300,000). Owns and operates central w iSPr 5 'rv.ERYiRfA *k'YA Y' 7 ~A Arodoy road oxtondIng from the
the central station electric light and power business in Marlon, the street
coVtro.1
to
Boston A Maine UR., and In 1903 the
o i Wa k “ J^ ?rion and Delaware, and fho intorurban railroad between N T Jrr2^, 19 2! re* Hi? 1 Passed a2 tth«r,.ze<1 the Concord A Montreal R R *
S
n tuf e
^
Columbus. Delaware and Marion. Also^furnishes electricity to the vil whThf^ M
lages of I rospect, Radnor and Greencamp. Over 76% of the interurban
bonds8 to^ay^^rotar.110’ *° PUrchaa° tbe pr0perty
*
track is on prlyato right o f way. Has entrance to centre of Columbus over
tracks of the Col. Ity., P. A L. C o ., 4.09 miles.
Franchises are satisfactory and contain no burdensome restrictions.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity
n n r lR m v
YORK POWER & RAILW AY CORPORATION ,
Common $1,000,000 ($100)-----------— .............
$ 7 0 0 ,001 )
^aiuruy.
mirNR ijV T I O N r l c o r P •'n New York in July 1909 as the Otsego A
Pref 7% cum $1,000,000 ($ 1 0 0 )____
Q-J
BSO-OOft .................... He^ ' mer HR., succeeding tno Oneonta A Mohawk Valloy HR. (V. 89
p;
changed to above in July 1916. In 1917 acquired control
F rnri^nn^e^Ulldln^ Mtge *7**U,917, .,5 %
’
367,000 ‘ jim V i937
of tho Colliers Light, Heat A Power Co., Deposit Electric^Co^ HiutartSc
500.000................................/Cleveland Trust C o., Trustee.
Power Co. and Southern New York Power Co
’ llartwick
Underlying mortgages (see
addlV
<>n to operating an electric interurban railroad the co. serves
separate statements below)..........
5%
1,525 0 0 0
Pref. stock Is non-taxable In Onto, N . Y ., N . H. and Conn. "Red'all"or exc^s org n'nnnat S i p°nVer V'r2 4 c!t,Ios and towns with a population in
5
of 50,000. The railroad franchise is perpetual and others are per
part, at $115 and dlys. Additional prof, stock cannot be issued without
p
tho consent o f the majority of the prof, stock, unless tho net earnings avail petual or extend beyond the maturity of tho bonds..
Valuation.— In 1916 the property, after deducting over $1,000,000 for
able for divs. thereon are double the requirements on the pref. stock issued
aac|
TPropo«0,L , No stock having priority can be auth. except with consent depreciation, plus recent construction, was appraised at $2,450,000.
or 75% of prof, stock.
fn
alw .' b y xrh0 J 4' Y ’ l>' S- Comm* t 0 execute a mtge.
i\UM b h Trust Co., N. Y ., as trusteo, to secure $5,000,000 6 %
underlying^bonds ’° 0°
4be 4st ^ ®e^
*
bonds are reserved to retire m . l « i . E
Wue b/imediately thereunder $952,000 bonds
EARNINGS. Operating
Operating— Anri, require, for-^Balance
^ ^h’ 0 8 5 ,00 i°i?.utsH ndi,M bonds of tho old Issue and $48,000
K
acquisition of a like amount of tho capital stock of the
Year ending—
Revenue..
Income. Bd.,&c.,Int.Pref. Div. for Common
June 30 1918— $621,460
$163,120
$98,815
$45 500
*18 8 0 5 » r , ^ e„ Y ? r^ Powf i C o-, Proct’eds received by the latter are to be
w
K^di i , thS acquisition of bonds of tho Deposit Electric Co. Remaining
June 30 1917— ,566,039
194,935
112 208
*45 500
*37 228
June 30 1916--. 490,159
185,210
3 / , 2 2 8 V°nfo 6 t(p b15W l,2230,<>m t m° t 0 tim° for acquisitions and extensions.
*Pref. stock outstanding only since July 2 1917, but shown hero for
comparison.
'f f S . P n A 1
™
t , r »•'»»«* *»
ROA D, Ac.— 57 miles o f single track equivalent; 28 city and 8 Interurban
l
‘ " s - ° * Oo“ ” - ror
•“ < « » ~ *
passengor cars. 4 combination interurban passenger and baggage cars c
4 freight and express cars, 3 freight box car trailors. 18 flat, dump and work
cars, and 2 motor snow plows. Has a complete electric distribution system
In Marion and a steam power station at Stratford, capacity 9 son k w
a r » a o o o | ,::::
7 f f
S f e ^
and one at Marion, capacity 1.750 k.w.
" K |3
($1,000) ------------ ---------.c (In t. at Equitable Trust Co., N. Y ., Trustee"
OFFICER 8 .— Pres., Ell M . West; Sec., Treas. A Aud. W H DavldFmfuni.rn’ n*l,thfe ^ ref' fS V cpo.r^ outstanding. $125,000 Is hold by the
c:!
180: 1898: Y Gie06 R 7i5A - *'* VaD D,enS0-- " V - 104. p.
,
n pg
106. p*.72. Equitable Trust Co. or N. Y ., which has agreed to waive all dlvs. thereon
and also not to sell any part of it until earnings equal to 2 times the dlv
(1) Colum bus Delaware & Marlon Electric RR.
Interest,due Nov. 1 1912 was paid May 1 1913: subsequent coupons to and requirements on the total amount outstanding. If such earnings do not
incl. Nov. 1 1917 were paid 6 months after they matured. M ay 1918 coCrfnr eanepiiL^mn1 with w *
TUs,t F°- ttKrccs t 0 surrender this stock to the
t l n n a ? r e c e i v i n g any compensation therefor. Addi
coupon will probably be paid Nov. 1 1918.
tional pref. stock may be Issued only when not earnings applicable to pref.
____
CONCORD, N. H.
COOPERSTOWN, N. Y,
35
ELECTRIC RAILWAYS
S kpt ., 1918.)
Bonds.— Of the first consolidated bonds or 1892 of the O. N . & O. R y..
$150,000 are deposited with the trustee to retire underlying mortgage
bonds. The perpetual charters of constituent companies are kept alive,
collateral for
*^E A$t N IN G3.— For year ending Dec. 31 1917 (incl. So. N . Y . Pow. C o.), and their capital stocks are deposited with the trustee asNational Bankthe
Is payable at the
or
gross, $377,200; net, after taxes, $103,955. In 1916, gross, $262,o33; first ooneols. Interest on those bondsBank, Cincinnati, and Liberty Nat.
Commerce. New York, First National
Bank. Covington. The Union Light, Heat & Power Co. notes were issued
n°R (? A D -^Opora^es 62.04 miles main and 4.63 miles second track, 150 to refund a like amount of 1st M . 4% bonds due M ay 1 1918 which were
miles being on private right of way, between Oneonta, Cooperstown. Rich extended to May 1 1920 and deposited under
notes are
field Springs and Mohawk, from which point it operates over the N. Y . callable, all or in part, on any int. date upon 30 the notes. The 100)4 and
days’ notice, at
Stato Rys. to Utica, 15.10 miles, and to Herkimer, 1.40 miles. Total int., prior to Fob. 15 1919 and at 100 and int. thereafter. The Columoia
operated, 83.17 miles. Rails 60 to 70 lbs.; 22 passenger and 5 freight cars; Gas & Elec. Co. guar., p. and L, the 1st M . bonds of the Union Lt., Ht.
1 locomotive: 4 snow plows; 2 service and 26 other.cars. Has a 2.500 k.w. & Pow. Co. and the notes secured thereby. V. 106, p. 827. Additional
hydro-electric power plant, a combined 500 k.w. hydro-electric and steam U. L.
1915 may De
plant and 2 steam plants with a combined capacity of 1.7o0 k.w. An addi ments; H. & P. Co. bonds of Co. guaranteesissued for additions and better
the Col. Gas &
a sink, fund to retire all bonds
tional 750 k.w. steam turbine has been ordered. Also owns 70 miles of at or before maturity. Elec. 101. p. 694. Licking River bonds are guaran
V.
transmission lines. A new transmission lino from Colliers to Walton and teed by Columbia Gas & Elec. Co. and the South Covington & Cin.St. Ry.
Deposit is planned which would enable the co. to shut down the 250 k.w.
DIVIDENDS.— On pref. 4)4% is being paid (1)4% quar.). On comStOFF?CEits!— ikes0.',''Jos. B. Mayor: V.-P. & Gen. M gr., O. L. Stone; moustock firstdiv. of % % was paid July 15 1907 and )4% Oct. 15 1907. In
1908. 3)4% ;
1909, 3)4% in 1910, 4
in 1911.
Sec Jamos L. do Rossot; Troas., II. R. Skirving. V. 106, p. 2230, In 1913. 5)4%in in 1914 and; since, 6% )4 % ;annum. 4 )4 % : in 1912. 5 )4 % .
:
per
V. 107, p. 83.
____________ _______
ROAD.— Connects Cincinnati. Covington, Newport, Bellevue, Dayton.
Clirton, Southgate. Fort Thomas, Fort Mitchell. West Covington and
Ludlow. Total in operation, 68 miles; laid with 80-lb. Johnston girder
rnR N llM fl & PAINTED POST STREET R Y .— A trolley road.
and 72-lb. “ T ” rails.
v , _ _
, _
.
OFFICERS.— Pres., James M . Hutton; V .-P ., Louis J. nauck; Sec. &
O U G A N IZ A T IO N .-In co rp o ra te Dec. 11. 1894. Commenced opera
Treas., George M . Abbott.— V. 105, p. 1617; V. 106, p. 821, 924, 1688;
tion Nov. 1 1895. Control changed hands In 1904. V. 80. p. 162.
STOCK AND B O N D S Date.
Interest. Outstanding, p u r i t y . V. 107, p. 905, 1099.
m _________
------no ooo j m
i ir a
Stock. $100,000 ($100)............ - - - 18T ^ b o m fif fel1 due originalfy \n°19l6 5but were extended for 20 years.
DALLAS RAILW AY CO.
E A R N IN G S .-F o r cal. years:
m
^
ORGANIZATION.— Incorp. in Texas on Sept. 22 1917 to take over and
operate the electric railway properties formerly owned by the Dallas Elec.
v .nr
Gross.
Taxes). Income. Rents,Ac. Balance.
foTv
$73,712 $26,645 $875 $10,703 sur.$16,818 Lt. & Pow. Co. (see Dallas Electric Co. in this Section for Sept. 1917) under
.........- ........................... 63.440
18,355
716
10.697 sur. 8.375 tho “ service-at-cost" franchise approved by the citizens of Dallas at an
w n T n - — hwna K Q*mlfesor track from Corning to Painted Post; 23 cars election held April 3 1917. Formal acceptance of the franchise was filed
OFFICERS^ P r e s F 1° Underwood; V.-P. & Treas., David Bosman;. Sept. 27 1917. V. 105. p. 1419. The lighting properties of the Dallas
Electric Lt. & Pow. Co. were taken over by the Dallas Power & Light Co.,
a c ? F T F Packer. New York; Comtjt., A. L. Sore n se n .-V . 80. p. 62.
which see below.
,
,
„ „ „ „ • .. _ ,
The company leases with the right to purchase for $2,000,000. the Oak
Cliff lines of tho Northern Texas Traction Co. at an annual rental increasing
f o p t ! AND C O U N T V T R A C T I O N .— T rolley.
from $115,000 for the first three years to $150,000 tho seventh year and
OROAN1Z Vl’ lON — Is a reorganization on Juno 22 1901 o f the Cortland
3r HomM Tract Ion sold at foreclosure on Apr. 23 1901. In June 1905 ab- thereafter^ gQ ig i7 purchased the Dallas Interurban Terminal Associa
^ r b .T t h e C<»rtbmd & Honmr Electric C o., previously controlled. Fur tion. which has a modem fireproof eight-story passenger terminal and
nishes light to tho cities o f Homer and Cortland and to the public. Carries offico building in the business district of Dallas, and assumed its notes.
The terminal facilities have been leased for 20 years to the three interuman
% T O O K A ^ O ^ O H D S - ^ D ate™ ' Interest. Outstanding.
Maturity. lines entering Dallas. The terminal was opened for service Sept. 1 1916.
Franchise.— The franchise permits a return of 7% on the property value,
Stock, com, $320,000 ($100)-- - - - ^-gAO
’ lSOioOO April Y 1921
fixed at $7,561,749, and provides for: (a) an interurban not less than 30
irirat mtfrn *180 000 ($500). County Sav. Bk. & Tr. C o., Scranton, Pa.. miles in length, from some outside point Into Dallas, work to be begun
F 2? ih tg ’ 5
_C*{ Trustee. Int. at co .’s office. No sink. fd. within six months from the time of operation under the ordinance, and line
gum-----------------------. CaQ be ^ 1^ on (j months' notice.
to be put in actual service within 13 months from that date unless prevented
by causes which could not have been reasonably anticipated; (6) an inter
N% K r s ? o o T :“ °;.5 i S « t
R fK
urban not less than 30 miles in length from some outside point into Dallas,
Ui ,a * A ! ! & . 0 0 0 - ,1 9 0 7 ,
Tr
£ > * * » £
work to begin within six months from the time when the gross earning* of
the lines east, of the Trinity River, excluding interurbans, shall bear the
Bonds — Of the $600,000 issue of 1905, $180,000 are reserved to retire same proportion to the then property value as did the gross earnings to
orlor lions. They are subject to call at 105. . . . .
.
.
property value in 1913; (c) an expenditure of $1,000,000 in| altering, re
ROAD.— Operates 1618 miles of track (not including sidings and turn
rearranging
properties orig nally
outs) between Cortland, Homer. Little York and Preble, and between constructing, the company,and improving the $200,000 damages for put in
operation by
the city to receive
failure
Cortland and McGrawville. Has 33 cars.
.
comply with the agreement (see program
Ac., in
EARNINGS.— For fiscal year ending Dec. 31 1917, not, from operation. to 105, p. 2271); (d) Fares— (1) cash fare 5c. 22 of improvements, cash faro
$1; (2)
$25,704; oth. Inc. (lighting dept.), $12,222; bond, &c., int., $28,680, V. 6 tickets for 25c.; (3) cash fare 5c., 7 ticketstickets for (4) cash fare 5c..
5c.,
for 25c.;
for 25c.;
schedules to
SU$F F 10E its.— Pres., Edwin Duffey; V.-Ps., D. W . Van Ho men and 8 tickets providing saidthe return on be applied as follows: Whenever after
paying or
for
property value, the repair, mainten
B. H. Brewer; Treas. & Gen. M gr.. G. H. Garrison. ’V. 81, p. o07.
ance and depreciation reserve and the accident reserve are not less than
normal and the surplus reserve exceeds normal by 50%, the Tares shall be
reduced to the next lower schedule than the one then in force, and if after
CINCINNATI NEWPORT & COVINQTON LIGH T & T RACTION operating six months the surplus reserve exceeds normal by 30% . the fares
shall again be reduced to the next lower schedule, and further reductions
C<0 RGA n I z Iv t H)N.— Incorporated under the laws o f New Jersey 0n shall be made at six months intervals until tho surplus reserve shall amount
March 11 1902 and purchased all the stock of tho Union Light, Heat & to less than 10% in excess of normal. Whenever the surplus reserve is
Power Co. of Covington and of the Cincinnati Newport & Covington RaiL reduced to ono-'half of normal, the grantee may at six months intervals
wau
V 74 p . 676. The latter was organized in 1892 to buy up and con put In force the next higher schedule than the one then in force until the
solidate all the roads on the Kentucky side of the river opposite Cincinnati. surplus reserve equals 90% of normal. Children under 12 and students
Lease— Tho Union Lt., Ht. & Power Co. and the Cfnc. Newp. & Oov. under 17 years of age, shall be carried for half-fare. For further details
B y. (both controlled through stock ownership by the Cine. Newp. & Oov. seo V 105 P 1419*
Wages.— On Feb. 1 1918 increased the wages of trainmen by 2 cents per
Lt tt Tr ) wore leased from Apr. 1 1907 to Columbia Gas & Electric Co.
(incorporated lu Ohio) for 45 years. The lessee guarantees Interest on hour. In addition to this increase the men are to receive )i of whatever
bonds and 4 )4 % per annum on preferred stock. On common, dividends are sum they may save out of an annual appropriation of 4)4% of gross re
to bo 3% for first year. Increasing )4% each year until 6% Is reached, which ceipts for accidents.
ta to be the rate thereafter. See V. 84. p. 449. 930; also terms In V. 84, p.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
1489 under Columbia Gas & Electric. Undor agreement ratified In July Common, $2,250,000 ($100).....................................$2,250,000
...............
1915 the exts. and add'ns to Union Lt.. lit. & P. Co.'s property are to bo
...
- - — -----T „ -o V lo o i
paid for by the Issue of new 50-year 5% bonds (see below) Instead of by Preferred $500,000 7% ($100) - 1916
Dallas Elec Term M notes/
6 J-J
750,000 Jan 21 1921
sale of stock of tho Cincinnati company as provided under, tho old agreo$1 000 000($500&$l,000)c*. (Int. at State St. Tr. Co., Boston. Trustee.
Unsecured notes. - _Y_ — . - - - 1917
6%
2,600.000 April 1 1922
m
<The controlled^Clnclnnatl Covington & Erlanger St. R y., which was In
Stock.— Pref. stock is entitled to 7% non-cum. divs. up to Sept. 30 1920.
corn Sept. 1899 with $250,000 stock (shares $50), to build an extension to and to 7% cum. divs. thereafter. Red. at 110 and divs. on 60 day notice.
Erlanger, 7H miles (about 3 miles completed) has also been leased to the
Notes.— The Dallas Term. M . notes have been assumed by the Dallas
a whole at any time at 101 and int.
° W 4 t h a2 LiekingrRiver Bridge Co. Issued $185,000 1st M . bonds to Ry. Co. Red. as For cal. year 1917. gross, $1,444,004; net, $279,485. In
cover cost of tho l l th St. bridge Betweon Covington and Newport, which 1 9 EARNINGS.—
1 6 . gross, $1,313,444: net. $2.85.603.
.
ROAD.— Owns and operates 69.2 miles of track in the city of Dallas and
W
*
On5Oct. 19 1914 and N ov. 17 1915 Judge Cochran
lines. 237 cars. Standard gauge.
In the U S District Court held that tho franchise granted by tho City suburbs in addition to tho leased Oak CliffW . Hobson; Pres., J. F. Strick
OFFICERS.— Chairman of Board. O.
nf Covington In 1882 to the South Covington & Cincinnati Street Ry. land- V - P ’s., n . M . Hughes, W . B. Head and C. B. Humphrey; Sec.was In effect perpetual. See V. 99. p. 1214. On Jan. 5 1915 the.U. S.
Suoromo Court declared void, as an unlawful Interference with Inter Troas J. B. Walker; Gen. M gr.. R . Meriwether.— V. 105, p. 1419. 1522,
______
state commerce, tho section o f the Covington street railway ordinance 1617, 1707, 2271.
relating to overcrowding. See details In V. 100, p. 139. In Nov. 1916
the voters of Nowport rejected tho 20-year franchise granted by tho city
O
KGAn I '/A t Yo N .— Uicorp^irTTexas on Sept. 22 1917 to take over and
In Julv 1916 On Sept. 28 1917 Mayor Puchta approved a franchise granted operate the light and power properties of the Dallas Electric Light & Power
by the City Council of Cincinnati which in tho case of so-called “ temporary” Co formerly controlled by Dallas Electric Co. (See this section for Sept.
Covington and Nowport routes is to remain In force until Jan. 1 1919 and 1917) under the franchise approved by the citizens of Dallas at an election
until 24 mos after ordinance takes effect, respectively. In tho case of hold April 3 1917 and formally accepted on Sept. 27 1917. The railway
other routes tho grant will remain in force for 25 years after the date the properties of the Dallas Elec. L. & P. Co. W8re taken over by the Dallas
ordinance takes effect. For terms see V. 105, p. 1617.
R y. Co., which see above. V. 105. p. 1423.
_ „
On Nov. 19 1917 Federal Judge A. M . Cochran Issued a temporary in
Does substantially all the electric light and power business in Dallas,
junction restraining the agents or employees of the city of Nowport Trom serving a population of about 140.000.
„_
„„„ ,
Interfering with the operation of tho So. Cov. & Cin. St. Ry. and from
Franchise.—The franchise provides for an expenditure of $2,000,000 in
tearing up any more tracks. Those which had boon torn up wore at onco altering reconstructing and rearranging and improving the distributing
replaced bv tho co. and operations resumed. Tho trouble arose out of systems power plants and properties and in maldng additions and exten
tho franchise litigation between tho co. and tho city. In Aug. 1918 tho sions $1 000,000 to bo expended within 18 months after Sept. 30 1917.
Covington Board of Commissioners adopted a resolution offering to enter and $1 000.000 within the succeeding 42 months. Further provisions of
into a now contract with tho co. whereby fares may bo Increased from the franchise are (1) a definite "property value" on which the co. is author
ized to earn 8% per annum. This auth. rate of return is increased automat
6 to 6 cents. V. 107, p. 905. . . . .
, ,
On Apr. 15 1918 a doeision was handed down in tho U. S. Supreme Court ically by specified percentages if and when the maximum rate for lighting
In Tavor of tho So. Cov. & Cin. St. Ry. C o., in the action brought by the is reduced and conversely is decreased If, under certain conditions, the
city of Covington to oust the co. from its streets. V. 106, p. 1688.
maximum rate for lighting is increased. (2) The agreed “ property value”
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity. on Sept. 30 1917 was placed at approximately $4,850,000 plus all subsequent
Common. $ - 000.000 ($100).............
QJ
$5,000,000 J u ly '18.1 ft admitted additions and improvements, including the proceeds of the
$1 000.000 notes shown below, there will be a “ property value” of about
$5 800 000. (3) The rates for service aro under the jurisdiction of the city
Proob .< M # ‘( s w T : c
.
^
:
— * * q -j
4 ,5 0 0 . 0 0 0 J u l y - i s , m
authorities, but the maximum lighting rate cannot remain lower than
So^ov&Oln^cons M $500,000/ 1892
6 g J-J
160,000 Jan 1 1933 6 cents per k. w. hour unless the co. ts earning the full rate of return on the
gold ($500. $1.000)_______ \Covlugtou Sav Bank & Tr. C o., Trustee.
"property valuo" and In addition Is maintaining out of earnings: (a) A
Cincinnati Newport A Covington—
,
, ,
„ _____ __ , „
__ “ surplus reserve” of 8% on the “ property value;" (6) An "accident reserve
1st consol mtge, gold, $3,-/ 1892
5 g J-J
2.850,000 July 1 1922 of 2 k % of tho gross receipts; (c) A ‘ 'maintenance and depreciation reserve
000 000 ($1.000)---c*&r_-[Farmers Loan & T r. Co. of N . Y .. Trustee. of 6% of tho “ property value." (4) The term of the franchise Is ten years ,
2d mortgage. S1.000,000. g ( 1896
5 g J-J
859.000 July 1 1922 from April 3 1917, and continues thereafter unless and until the city or its
($1,000 oach).................... cl Farmers Loan & Trust C o., N . Y ., Trustee. licensee shall purchase the property, in which event the city shall pay the
co at least 105%, or the city’s licensee at least at least 110%, or the then
Union Light, Heat A Power Co.—
,
xt a
* ^
..
r 1901
4 g M -N See text
M ay 1 1920 "property value." (5) Provision for arbitration of disputed matters
1st mtge (closed). gold ($100.(lnt. at Nat. Bank of Commerce. N . Y .: First between the city and the company.
$ 5 0 0 & $1.000).............c&r|
National Bank. Cincinnati, or at Liberty
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
*
| National Bank. Covington.
________ $2,000,000
-----------2-yr 1st M notes $1,560,900f 1918 6 g F-A15
1.560.900 Feb 15 1920 stock *2 000 000 ($100)__________
" ($500f 1918
7
1,000.000 Feb 1 1920
($100, $500 & $1,000) g, Int. at Cent Tr. C o.. Cm.. Trustee, or at 1st m ’ notes, series “ A_____c*\lnt. at Old g F-A Tr. Co., Boston. Trustee
and 31 000) g
Colony
m ar
.....................t fBankers Trust C o., N . Y.
u i v s m i m i n o t w ___ _ 1 9 1 7
e%
4 .0 0 0 .0 0 0 a ph ! 1 1 9 2 2
New mtge ($5,000.000).........- 1915
6%
320,000
1965
The $1,000,000 unsecured notes and $2,000,000 stock (except directorsqualifying shares) aro deposited under tho coll. tr. M ., due Apr. 1 1922
LickingURiver Br Co 1st M l 1914 5 M-S
185.000
1939 o f tho Dallas Electric Corporation, which see above.
$185,000 guar (see text) s f J
divs. aro at least twice tho pref. stock dlv. requirements . Prer. stock Is
free of normal Federal income tax and is tax exempt in N . Y . State. V*
CORNING, N. Y.
DALLAS, TEXAS.
CORTLAND, N. Y.
COVINGTON, KY.
36
E L E C T R IC
R A IL W A Y S
[V ol . 107.
EARNS.— Cal. Years— 1917.
1916.
1915.
1914.
STOCK AND BONDS—
Date. Interest. Outstanding. Last Dio..Ac
Gross earnings.............. *$1,267,922 $1,143,065 $1,030,317 $1,052,294
Debenture bonds. *150.000.. 1911
6 J-J
86.000 Jan 1 1921
Net earnings---------------*678,708
609,705
544.475
477,227 Receivers’ ctfs $6 0 , 0 0 0 .........................
7%
5 5 ,0 0 0
_________ _
♦The present co. began operations Oct. 1 1917.
Bwids. The 1908 debs, are red. at 105 on any int. date after due noNotes.— Prior to April 1 1922 int. on tho $4,000,000 unsecured notes is
$75,000 are reserved for like amount of debs, of
payable only if earned, but any unpaid accrued int. thereon, together with 1908. Of the 5. of 1913, $100,000 are resorved to retire a like amount of
the prin., will be payable in full on April 1 1922. Tho 1st M . notes were
5* *od *150,000 for retirement of the two debenture issues.
Issued to fulfill franchise requirements. They are a first mtge. on all tho , n ^ H^ d ~ . la
^
4 %: ln 1897-98, 4% , In 1898 99 , 2% . In 1899s Properties and franchises. Tho auth. amount of notes is }aSSlni^,Z0 or,a AS2P-°1.
J
ln 1901-02, 3% , In 1902 03, 3% ; In
$2,000,000 but may bo increased to $2,200,000 on consent of board of
l®97 to 191*. 4% ann.; In i 9 12. Jan., 2% none since,
— Trolley road In Danbury, and from Daubury to Bethel, and to
commissioners, or other city authority. Tho remaining $1,000,000 of . ,
the authorized notes may bo issued in subsequent series having different Lake Kenosla. 15.031 miles In all sidings, Ac., 1 Oil miles: total. 16.075
42 passenger and 7 other cars. Standard gauge
interest rates and different maturities but not to mature earlier than ®'|p"
REPORT.— For cal. years 1916 and 1917 and years ending Juno 30:
Feb. 1 1920. They may be issued only to incroase “ property value” and
Net
Cross
Ini ,* luxes
Hula nee
only when the net earnings for tho preceding 12 mos. have been at least
$19,165
double the annual Interest chargos on the 1st M . notes outstanding and 1917................................... $141,653
$37,371
dof.$l8,3S7
37,935
those proposed to be issued. Callable as a wholo on 30 days’ notice, at 1916 ................................... 105,321
60.234
dor. 12,299
1915-16 ............................ 159.865
39.681
4; n s
df
7,137
101 and ,n*- to and incl- Feb- 1 1919. and at 10014 and int. thereafter.
V. 106, p. 824. The entiro outstanding debt secured by a lien on tho com 1914-15 ............................. 141.603
30.363
43.864
def. 13,501
OFFICERS.— Pres. A Oen. Man Stephen Oriit.e, New York; Sec. A
pany s property may never exceed in tho aggregate 85% of tho then “ prop
erty value.
Treas., Georgo H. Klinzing, Danbury.— V. 106, p. 498, 715.
P R O PE R TY.— Power station capacity, 18,200 k. w. Has over 381
miles, o f distributing lines and over 24,693 connections with customers.
OFFICERS.— Pres., J. F. Strickland; V.-Ps., W . B. Head, H. P.
Gibney and E. W . Hill; V.-P. A Gen. M gr., Fred. M . Lego, Jr.; Sec. &
C I T Y R A I L W A Y C O .— A tr o lle y r o a d .
Treas., C. E. Calder; Asst. Sec.-Treas., J. C. Thompson and C. L. Cox.
ORGANIZATION.— Chartered May 12 1893
Is a consolidation of tho
Management.— Operations aro supervised by Electric Bond & Share Co.
Dayton Street HR., the Dayton A Soldiers’ Home HR., the Fifth Street
— V. 105. p. 1423, 1524, 1620; V. 106, p. 1717, 824.
RR
h r a n c h l s e s run for 50 years from Feb. 8 1892 and April |9 |S93
u„ ? TO(i K — $2,400,000 ($100) com. auth.and Issued and $600,000 ($100)
TEXAS ELECTRIC RAILWAY.
0% pref. auth. aud issued. Bond Issues have been paid off.
per ann,,m Is being paid on pref
On common, In 1900
G ROAN IZATION .— Incorp. In Texas July 5 1916 and Is a consolida
to 1003. Incl., 6% , also 16 2-3% ($250,000 In new stock at par or In cash),
tion or the Texas Traction Co. and Southern Traction Co. (see V. 104 p
362. 660). comprising a modern, high-speed electric lnterurban railway sys declared Nov 1903 paid Jan. 1 1904; In 1904, 6% , In 1905, 0 4 % ; 1900 to
tem serving a number of cities and towns in Texas, In and adjacent to the 1910, Inclusive. 7% per ann.; ln Feb. 1907 paid a special dlv of 5% .
Black Waxy Belt. Including Dallas, Waco, Denison. Sherman, Corsi >X 82- p- 169ft): ln 1911. 7% . and ln April 1911 a special dlv of $9 09 l - l l
93, p - 1178); In 1912. Jan , 1*4%. In March 1912 began paving diva.
cana, VVaxahaehle and McKinney. Also owns and operates the local
■treet railway systems ln all of these cities except Dalhis. Present estimated Q.-M Instead of O.-J.. and on March 31 paid 1*4 %, Juno. 2% ; Sept., 2%:
population connected and served. 250,000. Leases for 20 years from Dec.
27
>t
I9 *3 - 8%
,n 1914. 7 M%. In 1915 6% . In 1916,
17 1915 the terminal facilities of the Dallas lnterurban Term. Assn, which
J r n -y9J 7’ l % - Jn l 918’ M ar., 1>$%: Juno, 14$%.
M
-E A R N I N G S .— F o r c a le n d a r y e a r s :
Bee under Dallas Ry. above. lnterurban lines are located on private rightTwelve Months— Gross.
Net.
Int. & Taxes.
of-way; city franchises are satisfactory, and ln the opinion of counsel with
Surplus.
$ 2 0 9 ,4 4 9
$ 7 4 ,4 5 2
two unimportant exceptions, extend well beyond 1947. Enters Dallas 1 9 1 7 .................................- $ 7 7 7 , 4 4 3
$134,997
3 0 5 .1 2 4
5 4 ,5 5 1
1 9 1 6 - - - - ..................... 7 6 6 , 3 1 1
over tracks of the Dallas Railway Co. under long term contract.
250,573
. ,
— C o n t r o l s a n d o p e r a t e s In a l l 3 5 9 4 8 m i l e s o t t r a c k , n a m e l y
T h ir d
Fare Increase.— In Nov. 1917 the company announced an increase ln O .
passenger rates from about 21$ cents to about 2*4 cents per milo to cover S t r e e t L i n e . F i f t h S t r e e t L i n e , G r e e n L i n e , K a m r n e r A v « L i n e a n d D a y t o n
A ^ o id le r s H o m e L in e
G a u g e 4 f t . 8 4 $ I n . ; r a il s 7 0 a n d 8 0 l b . T a n d
Federal taxes and Increased costs of operation.
Strike.— A striko begun Mar. 1 1918 was called off on May 9 1918 tho 7 0 a n d 9 0 l b g i r d e r ; o p e r a t i n g 4 2 G . E . 6 7 a n d 5 0 G K 0 0 m o t o r e q u i p
m e n t s , 133 p a s s , c a r s , 3 s p r in k le r s , 3 s n o w c a r s . 2 s a n d c a r s , 3 fla t c a r s
men returning to work under old conditions. V. 106, p. 2230.
’
an d 1 w ork car.
STOCK AND BONDS—
Date. interest.
Outstanding. M aturity
O F F I C E R S .— P r e s ., E . D . G r im e s ; 1 st V .- P ., G . G . S h a w ; 2 d V .- P .,
--------- "
Com stock $6 ,0 0 0 ,0 0 0 ($ 1 0 0 ) ...............................
$6,000,000
_ _
li t pf 7% cum $1,500,000($100)____
Q-J
700.000 July '18,14* V . W i n t e r s ; 3 d V . - P . , G . H . G o r m a n ; S e c . , M . H a l l ; A s s t , S e e . , J . S . M c
M ah on ; G en. M gr . T
E . H o w e ll.
O ffic e , W e ste rn a n d
A m m i A v e s .,
Q-F
2d pref stock $3,000,000(810 0 ) ____
3.000.000 Aug ’ 18,1 4*
l*t A ref Mtge gold ($500 A\ 1917
5 g J-J
5,552.000 Jan 1 1947 D a y t o n . — V . 9 2 . p . 1 1 7 8 , 1 5 6 1 ; V 9 9 . p . 1 9 0 9 : \l 1 0 0 . p 5 3 , U 5 6 .
' " * ““ ‘
$1.000)------------------- c*ntf/H arris Trust A Sav. Bank, Chicago Trus
Conv debentures 83,000,0001 1917 6 g J-J
2,160,000 Jan 1 1942
D A Y T O N C O V I N G T O N & P I Q U A T R A C T I O N . - A tr o lle y r o a d .
($1,000 and $500)----- c*A rjlnt. at St. Louis Un. Tr. C o., trus.? or N Y
O R G A N I Z A T I O N .— T h is w a s fo r m e r ly k n o w n as th e D a v to r i A T r o y
Toxas TracUen lstJyl sink fd\ 1907
5 g J-J
t .276,000 Jan 11937
T r a c t i o n , b u t n a m e c h a n g e d t o t h e a b o v e ln A u g
1901
The
>. A T .
$3,000,000 ($1,000)gc*Artl) int. at Old Colony Trust Co., Boston, Trus
ilw a y
Den A Sher first mortgage,/ 1902
en
5 J-J
150.000 July 1 1927 T r a c t i o u w a s I n c o r p o r a t e d In O h i o in J a n . 1 9 0 0 t o b u i l d a s t r e e t
fr o m D a y t o n t o T r o y , b u t r o u t e w a s c h a n g e d , a n d r o a d c o n s t r u c t e d fr o m
1350.000 ($1.000)___ c * tfiln t. at Illinois Tr. A Sav. iik..ChIc Trus
C o m p a n y a c q u l r o i d ie
Preferred Stock.— Remaining 1st pref. stock is held in treasury. Red. on D a y t o n t o C o v i n g t o n a n d P l q u a , a b o u t 3 8 m i l e s
any dlv. date after Jan. 1 1922 at 1071$ and dlv. on 30 days’ notice. Tho 2d r i g h t t o u s e t h e t r a c k s o f t h e P e o p l e ’ s R y . In e n t e r i n g c i t y o f D a y t o n .
S T O C K A N D B O N D S —■
D a te .
In ter es t.
O u tsta n d in g .
M a tu ritu .
pref. stock Is callable on any div. date on 30 days’ notice at 1071$ and dlv
.............
$000 000
Bonds.— Additional 1st A ref. bonds may be Issued for only 75% or the Stock auth, $600,000 ($100) - .......
550 000
................
cost of extensions, A c., provided net earnings are twice the total annual P r e f . 6% n - c , $ 5 5 0 , 0 0 0 ( $ 1 0 0 ) ......................................
5 g A O
4 9 0 .0 0 0 A p r i l 'f l O M
Interest charge, Including bonds applied for. In add! ion to ordinary re P1r a t m o r t g a g e . $ 5 5 0 , 0 0 0 . g ( 1 9 0 2
($ 1 .
t f'
t. a
C lo n y
o .. B o to n
r stee
serves for personal injuries and damages. $75,000 bond . re provided usable Second0 0 0 ) ............................c * n ntf I n----- t O l d g oM -S T r . C00,000 s Sept T1 u1919 .
mortgage, $60,000
0
for this sole purpose. Provision Is also made for refund!
underlying bonds
Bonds.—$60,000 1st mtge bonds are reserved for
and tmA special trust fund for maint and renewals is provide ’ ut of gross oarn- provements; 2d ratge. bonds are subject to call on any extensionsat 105.
int date
lngs as follows: 1917, 11%; 1918, 12%; 1919, 13%: 19? ' 14%; 1921 and
E A R N I N Q S .— F o r y e a r s e n d in g J u n o 3 0 :
thereafter, 15%. Any part not so used may be expend 'd for exts Ac
,
~
Gross.
Net. aft. Taxes.
Interest.
Surplus.
or for the redemption o f any outstanding bonds. Beginning Apr V 1921 1 nY^af 8 ........................... - - . $ 1 6 9 , 8 0 0
9 1 7 -1
$ 4 0 ,1 9 9
$ 2 9 ,9 2 5
$10,274
and yearly thereafter, cash equal to 1% o f the 1st A ref. 5sand underlying 1 9 1 6 - 1 7 - - .
--------------- 1 6 6 , 8 9 0
4 9 ,0 1 6
3 0 ,3 2 4
18,692
bonds outstanding on the previous Dec. 31, less amount of payments
R O A D , — T o ta l t r a c k 3 8 m ile s .
S ta n d a rd g a u g e
70 lo
T 80 and 90to underlying sink, fds during preceding year, shall be deposited, usable for l b . g i r d e r r a i l s . 11 p a s s e n g e r c a r s , 2 e x p r e s s c a r s a n d 7 o t h e r c a r s
exteus. A c., against which no 1st A ref. 5s shall be Issued, or for the retire
O
—
Dw
.
ment of 1st A ref. or underlying bonds. The 1st A ref 5s are red on anv s o n ; FSFuIpCt .E R S . J . P rreesn. ,n aD .. — V .y e r :. V .. - P 4 6 A G e n . M g r . , T . R u s s e l l R o b i n
, T .
B
n
77 p 1
.
Int. date up to and Incl. Jan I 1942 at 105 and Int : thereafter at 102 V and
$
int. Of tho amount reported outstanding $52,000 aro held in treasury
& J Rx 9 Y E L E C T R k T r Y — A t r o l l e y r o a d
Interest is payable in Chicago and New York. See offering in V 106 o ’
O R G A N I Z A T I O N .— lu c o r p . 1 9 0 0 .
Is b u ilt o n b o th p u b lic a n d p r iv a te
397. T ho d,obs- are callable Jan. 1 1922 and any Int. date thereafter’ on
a
e
c.
.
re
y ar
30 days notice at 1021$ and Int.; convertible on and after Jan. 1 192,;> Into r ixgth t soi f nw o fv .I t s Cro m cphl i stee d InIn PDqeu a . 1 9 0 1a i l s .I n7 0Dl e c T 1 9 1 5P o wceeri vheodu sae 2 0 -e aete d
e
en o
f an
l
R
- b
Sw
7% cum. first pref. stock, par for par, with adjustment of int. and dfvs
at
R S
l
l
S
0 0 ,0
$10(
co
t
n
sue
The Texas Traction 1st 5s can be called at 110 A accrued Interest a n dT r$J8K 0 , S 0 0! 0 (9 1 t0y0 -) ° 5h% ° - c u m t.o cpkr,e f$. . 5a u t h0. .0 ($ 0 4 7),i8 0 0 mI s sa u dh aN d ibso n d d
0
on a n y in t. date upon 30 days’ notice. $602,000 (not incl. In amount c o n t e m p l a 0 e d . $ I n M a y 1 9 0 2 t o o k o v e r M i a m i V a l l e y B yu e u n d e r o9 9 - y e a s
t
r
DAYTON, OHIO.
sink. fund not incl. in amount outstanding above. Den. A Sher 1st M
bonds are subject to call since July 1 1917 at 105 and interest on four
weeks notice. A s i n k i n g f u n d began Jutj 1 1905 of 2% per annum of
bonds out until 1913, when amount payable became 3% per annum until
1917; from 1918 to 1922, incl., 4% per annum; 1923 to 1926, Incl 5% per
annum: $118,000 in sinking bind, not incl. in amount outstanding above$3,000 canceled; $1,000 in treasury and $38,000 held by trustee (not incl
in amount roported outstanding).
’
Dividends.— i ivs. on the first prof, stock were begun Oct. 1 1917
D
quarterly on the 2d nref. stock wore begun Nov. 1 1 9 1 7 .
EARNINGS for years ending Dec. 31:
„ GroM.
Net (aft. taxes).
Interest. Bat. surplus.
1917---------------- $2,138,268
$990,636
$474,788
$515 848
1916. . . . . . 1.829,009
804,871
512.491
292.380
Latest Earnings.— lo r 12 mos. end. Aug. 31:
19 18...................$2,427,518
$1,083,380
$468,347
$615 033
!9 1 7 - - - - - - - - - - - 1.951,704
912,782
487.920
424:862
ROAD.— Owns and operates lnterurban lines between Dallas and Deni
son, 76.39 m.; Dallas and Waco. 96.89 m.; Dallas and Corsicana 56 19 m
2d main track, sidings and turnouts, 14.80 m.; local lines In Sherman Deni
son M cKinney. YVaco, Corsicana and Waxahaohlo. Tex , Incl. siding’s Ao.
34.43 m.; total, 279.38 m. (Incl. 9.98 m. of track, being ontrance Into Dallas
leased). Gauge 4 ft. 84$ In. 70-80-lb. “ T ” rail. 63 lnterurban passenger'
66 City passenger. 16 express and baggage and 44 work, Ac., cars; total’
1«0; 14 sub-stations. Leases generating plant to Tex. P ow .& L t. Co fr mi
whAci1 t,R!.,, ,ci laso. , ,,ower H
.'l.
r
s
,nd?r contract expiring at same time as loaso.
O lH C M I S .— Pres., J. F. Strickland; V.-P. A Gen. Mgr.. Burr MartinTroas., II. I. Gahagan; Sec., Jas. P. Griffin.— V. 106 p. 397, 2230.
’
DANBURY,
CONN.
D A N B U R Y & BET H E L S T R E E T R Y .
w o X d * r o n H o T InVSeF05.1?.17120SePhen ° rUte’ N ° W Y ° tk’ and assoc,ates
Receiver - On Oct. 30 1917 Judge James E Wnlsh, of Greenwich was
»PP°iubxl receiver of the company on application of A. II. Flint, holder of
a $1.000 note, overdue. V 105. p. 1801. Judge Walsh was superseded bv
Atty J. Moss Ives, of Danbury, in Dec. 1917. V. 105, p 22(2.
3
Committee for lx( A lief. 5s.— Chairman John McCarthy Danburv
Conn; Chas. E Graham, New Haven, Conn., and P. Lo Roy Harwood
New London, Conn.— V. 106, p. 498.
ORGANIZATION — Incorp. May 7 1880 under the laws of Connecticut
Has a perpetual special charter, the only street car company serving tht
city of Danbury and town of Bethel. Its lines also extend to the Danburv
Fair Grounds and the pleasure resort of Lake Kenosla
. £?!ccr> r ln Sopt- A ,18. 1 w;« reported that tho Danbury & Bethel Gas
9
6
A Bilec. Co. was negotiating with this co. with a view to leasing the latter’s
power plant and furnishing tho power to operate tho street railway system.
U(ite'
M erest. Outstanding Last Div..Ac
Stock JoJ.I.OOO (par $25)___ _____
J-J
$.120 000 Ian ’ 1 9 9 07
First A ref mrge $rt''0,000l 1913 5 g M-N
UOAIH) May f ’lOiS
($60C and 1.060) n • f — *)ln t. at American Trust Co. Bos. Truoec
Consol mtge, $300,000. gold/ 1906
5 g M-N
100 000 May 1 193«
($500 and $ 1 .0 0 0 ) .
Int at American Trust C o.. Boston T ru sts
Debenture bonds
$75,000/ 1908 6 M-3
63,000 Mar 1 1918
($1,000 and $5 00)--__-.-c\ In t. at City National Bank of Danbury.
a r e n t a l o f $ 9 , 0 0 0 p e r a n n u m , w h i c h Is a p p l i c a b l e t o s t o c k o f
$ 3 0 0 ,0 0 0 . m o r t g a g e h a v in g b e e n c a n c e le d .
D i v i d e n d s . — O n t h e p r e f . s t o c k 5 % p e r a n n u m Is b e i n g p a i d
O n c o m .,
m oo
» * » . 6 % ; ln 1 0 0 8 . 0 %; In 1 9 0 7 . 2 %. In 1 9 0 8 , n o n e ; i n
1 9 0 9 . 5 % . In 1 9 1 0 . 0 %
In 1 9 1 1 . 5 % ; In 1 9 1 2 . M a r . 14*%. In 1913, Sept..
’
.................................
1 H % : D e c . , 1 4 4 % : In 1 9 1 4 . J u n e . 1 4 * % ; I n 1 9 1 5
Dec.. 14*%; In 1910
an d 1917, 5 % each .
N o n o s in c e .
EARNINGS.— For years eudlng Dec. 31:
—
Gross.
t\et.
Deduct'ns.
Dividends.
Surplus.
} 9 } 7 .............................$ 3 1 9 , 4 5 8
$ 1 0 7 ,7 0 4
$ 3 7 ,6 2 4
$57,386
$13,266
1 9 1 6 ............................. 3 1 6 . 1 2 2
1 3 9 ,8 2 2
5 9 ,9 3 0
57,372
22,520
1 9 } 5 - - - - ................. 2 7 2 , 8 3 1
8 3 ,4 3 5
3 4 ,9 1 1
__
38,602
9.922
b o a I ) . — O w n s e q u i v a l e n t o f 3 2 .8 8 m ile s o f s in g l e t r a c k b e t w e e n
D a y ton
and T roy
L e a s e s 1 4 .2 5 m i l e s b e t w e e n T r o y a n d P l q u a ( i n c l . 3 .3 1 m l o c a l
lin e s in P l q u a . ; t o t a l o p e r a t e d , 4 0 .9 3 in .
O F F I C E R S . — P r e s ., H
P . C le g g ; V .- P .. C h a s
B . C le g g ; S e c .
L. O.
™r r t ‘ a s * ( , e u
M 8 r •• R - A . G r u m e ; A u d . , F . S p r a g u e
G en eral
o f f ic e , T ip p e c a n o e C i t y . O h io .— V . 9 5 , p . 1 7 4 4 ; V 9 9 , p . 4 8 , V . 1 0 2 . p . 152.
S o X i y m ? E R ! t t O P ., R L O & X E N I A S O U T H E R N R Y . — T r o l l e y .
I I O N ~ ~ I n c o r p o r a t e d In 1 9 0 9 a s s u c c e s s o r t o t h e D a y t o n &
a o 'd
fo r e c lo s u r e .
S to c k , a u th
an d o u ts ta n d in g .
COE? a ,n d S 3 I H ),0 0 0 p r e f .
Par $ 100
1st M
a u th
a n d Issu ed .
$ 3 5 621)
b a r n ,n > ? s f o r y e i*r o n i B u * J u n o 3 0 1 9 1 5 . g r o s s . $ 1 7 8 , 8 8 4 ; n o t .
v
17^
R O A D . — O w n s a n d o p e r a t e s a b o u t 2 4 m ile s o f t r a c k fr o m D a y t o n t o
X e n ia a n d fro m D a y to n to B e a v o rto n .
O n D e c . 1 1 ! ) 17 o p e r a t i o n s b e t w e e n
B e a v e r t o n a n d S p r in g V a lle y , 114$ m ile s , h a v in g p r o v e n u n p r o f it a b le ,
w e r e d i s c o n t i n u e d a n d t h a t p o r t i o n o f t h o lin e w a s s u b s e q u e n t l y d i s m a n t lc d .
P r e s .. C
.)
F o r n e d in g ; V .- P ., T . A . F e m e d in g ; S e c . A T r e a s .,
H . L . I c r d e d i n g , a ll o f D a y t o n . — V . 8 9 . p . 2 8 5 ; V . 1 0 5 , p . 2 2 7 2 .
O A K W O O D S T R E E T R A I L W A Y C O .— A tr o lle y r o a d .
In A p r !I 1 9 1 5 M a j o r C h a r le s B . C I e g « a c q u i r e d c o n t r o l .
O R G A N I Z A T I O N . — I n c o r p o r a t e d J u l y 2 2 1 8 7 0 In O h i o .
F r a n c h is e o x p lr e s 1941
In O c t 1 9 0 9 t h e O h io S u p r e m e C o u r t h e ld t h e fr a n c h is e v a lid
•
o b je c t io n s o f th e C it y S o lic ito r .
S to ck a u th . a n d o u ts ta n d in g ,
$ 5 0 0 ,0 0 0 (p a r $ 1 0 0 ).
N o bon d s.
O p e r a t e s 8 m i l e s o f t r a c k In O a y t o n a n c f
s u b u r b s a n d l e a s e s ( f r o m J a n . I 1 9 1 0 ) t h o O a k w o o d K R . ’ s l i n e In O a k w o o d
v illa g e ;
t o t a l m ile s o p e r a t e d ,
10.
S ta n d a rd
gauge.
P res. A
T r e a s .,
C h a r le s B C le g g ; V .- P ., H . P . C le g g ; S e c . A G e n . M g r ., H e n r y G e b h a r t ,
all of Daytou.— V. 100, p. 1438.
FO R T
W AYN E
&
'
DECATUR, INDIANA.
D EC A TU R
T R A C T IO N
CO.
OR GA N IZA TION .— Incorp. In Feb. 1916 to succeed tho Fort YVayne A
Springfield Ry., bought ln at receiver's sale on Dec. 2 1915 (see V. 101 p.
2144). On June 23 1910 tho Indiana P. S. Comm, approvod the purchaso.
r a r e i n c r e a s e .— I n J a n 1 9 1 8 w a a a u t h . b y t h o I . - S . O O o m r u . t o i n c r e a s e
p a s s e n g e r fa r e s 1 5 %
S T O C K A N O B O N D S .—
Date.
Interest. Outstanding. Maturity.
Stock $1.->0.000 ($100)......................................
F ir s t m o r t g a g e $ 2 0 0 ,0 0 0 g o l d ) . 1 9 1 6
_
0%
$150,001)
_
_
1 6 0 .0 0 0
V
June
1*1928
after
$53,
________________ ______
ROAD, -operate* 21.0 miles botween Decatur and Ft. Wayne. Total
track. 23.7 miles. 70-lb. T rail; gauge, 4 ft. 84$ ln.— V. 106. p. 295.
E L E C T R IC
SKri'.. 1018.|
DELAWARE, OHIO.
m i u m iu js m a g n e t i c s p r i n g s & n o r t h e r n r y .
Rcchver — On Aug. 24 1918 the Common Pleas Court of Delaware
County, Ohio, appointed Pres, and Treas. Chas. J. Finger receiver for the
C°O R o ’A N ^ A 'n O N )— Incorporated In Ohio on Oct. 15 1900. and la a
ronJdlldatlon of the Delaware & Magnetic Springs Ity. and the Richwood
& Magnetic^Springs liv
Private right of way except in City o f Richwood
*B T O C K AND B O N D S Date.
Interest. Outstanding.
Maturity.
$ •10.000 ...................
Common. r200.000(S 100)................. ...............
n rM's6^ N m M 0$40<)!o6oCg] 1900 5*g M -N
250.000 N o v "j" 1931
($1 000). cannot be called,j Interest at Colonial Trust C o., Pittsburgh
EA*liNIhTOsl^For*year emlhig June^O,1®
’t?»P? oi k?Pi '
*90 778• n e t $2 859’ taxes $0,388; def.. after taxes. *3.627. In 1915-10
|?oss7 $2 7*008;o p e r .e * p ..m 3 6 5 ; net, $0,713: taxes. .$2,783; net. afte
ta r o ' ;\ 0 —Operates is miles o f track from Delaware to Magnetic Springs
8
^ O F F IC E R S .— Pres. and Treas.. Chas. J. Finger; V .-P.. C. Magee Jr.,
Pitts.; Sec., Chas. J. Fifer, Richwood, O.— V. 83, p. 1469, V. 107, p. 1099.
DENVER, COL.
THE DENVER TRAM W AY SYSTEM,
m n .n v p f S N orthwestern R y.— A holding company.
e
O r g a n i z a t i o n &c — fn Mar. 1913 a syndicate headed by Boettcher,
Porter & Co of Denver acquired a controlling Interest through purchase of
the stock (about S1.0OO.OT)O) held by Marsden J. Perry of providence
rhls mirchase making Its total holdings about a 75% bit. V 90. p. 803
■Chls nmnnanv sinoathe plan lii V.98. p. 1150. went Into effect,. Is simply
ih o ld . v coumanv practically its only asset being the $9,000,000 common
Jt^ckof the Denver Tramway C o., which Is pledged as security for the $0.
000 000 st & coll bonds of this co.. and Its only liability being $6,000 000
of Ite capital stock outstanding In the hands of the public the payment of
Its bonds having been assumed by the Denver Tramway Co.
' h t o o k A N D B O N D S . — Dale. Interest. Outstanding.
Maturity
Pt,,X *ft 0 0 0 0 0 () $ 1 0 0 )
...............
Q-J 10
$0,000,000
See text
Firsthand c?>llateral rntge (assumed by Denv. Tram. Co.— see below).
DM dends— Prior to July'T909 dividends were at rate of 0% per annum.
Tr, Ti.lv 1909 <
iuar dlv. was Increased to 2% and same amount paid quar
terly to iulv 1913- In Oct. 1913 rate was reduced and 1% was paid
rv yQ7 n i l l 5)
Same rate quar. to and Incl. April 1916. In July
1915 rate will further reduced to H of 1%. Oct. 1915 dividend omitted.
V io i n 1 1SH 1370
None since.
n S p o r t o f Donver Tramway System for fiscal year ending Pec. 31
( intcr-co transactions eliminated). Report for 1917 in V . 100, p. 2444.
Net Infter
Other
Deduc.
Bn am
Balance
'Fiscal
Gross
Net (after
Other
Define
Surplus
Year— Earnings.
Taxes, etc.).
Income.
lions
$201,553
1017
$3 419 408
$1,150,352
$19,818
$908,017
424.733
lo in ........ 3 275 877
1.384.001
21.234
981.102
1 OFFICERS.—V .-P .,_S ,M . Perry: Gen. M gr.. F W. Hlld Sec., II 8.
Robertson; Treas.. II."J. Alexander; Aud.,‘ W . X! Doty. ‘ VVldeVp. 2345.
(2) Denver Tramway C o.— Operating Company.
The Denver & Northwestern Ry. owns $9,000,000 o f the common stock.
ORGANIZATION.— Incorp. March 30 1914 In Colorado as successor
to the Denver City Tramway Co., which had previously absorbed the Den
ver Tramway Power Co. and the Denver Tramway Terminals Co. Owns
entire $500,000 stock of the Consolidated Securities & Investing Co. (In
corp. on the same date to succeed the Denvor Realty C o., Boulevard Real
Estate Co. and Denver Excursion C o .), which in turn owns all the outstand
ing stock and bonds of the Denver & Inter-Mountain RR. See plan of re
organization under "Denver & Northwestern R y ." In V. 98. p. 1150Franchises.— Operates within the city of Denver under a general franchise
granted Feb. 5 1885. Also under a 20-yr. grant voted by tax-paying electors
of the city in May 1906. which authorizes It to maintain three-rail tracks,
gauges 3 ft. 0 In. and 4 ft. 8H In., over all Its present lines within the city
and permits the construction of certain viaducts aud extensions. See de
cision In V. 84. p- 220. Under decision of the U. 8. Circuit Court of Ap
peal on Nov. 11 1912 the franchise of 1885 was held valid, the Court de
ciding that In view of the franchise of 1900 it was unnecessary to pass upon
tho duration of the older franchise at that time The company claims that
its franchise is perpetual. See decision In V. 96. p. 1472.
Fare Increases— On Sept. 6 1918 tho Denver City Council passed an
ordinance auth. tho co. to charge a 6-cent faro on city linos. V. 107, p.
1003
On Sept. 12 1918 tho Col. P. U. Com. auth. tho co. to put into ef
fect a 6-cent fare beginning Sept. 15 1918. An increase of 3 cents in tho
ono-way and 8-cents in tho round-trip fares on tho intorurban lines to
Golden and Leyslen was also authorized. V. 107, p. 1192.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
-------------- $10,000,000
Common stock $10,000.000— -----Prefstk $3,000,000 (7% cum).. .................. .........
See
---------Conv gold bonds $3,000.0001 1914
6 g A-O
2.500.000 Apr 1 1919
gold ($100. $500 & $ 1.000)/Int. at C ol. T r . C o .. N . Y. trus., & in Denver
Denv & N W Ry 1st & coll M ( 1902
5 g M-N
510 000 May 1 1932
a $6 000.000 ($500 andilnt. at Bankers Trust C o.. New York
f l 000 (assumed)_____ c* l trustee; also offico o f co. In Denver.
Red at 105 and lut. on 90 days’ notice.
Den City Tr Co 1st & ref M f 1908 5 g M-N
11,157.200 Nov 1 1933
*25 000,000 g ($500 andjlnt. at Bankers Trust C o., New York.
*1 000) sinking fund. .c* tfl trustee, and In Denver.
Denv City Tram purchasef 1899 5 g A-O
2.000.000 Apr 11919
monev mtgo g $2,000.0001 Int. at Central Trust C o.. N. Y ., trustee.
(*500 and $1,000) -C * t f
and in Denver.
Denv Cons Tram cons mtgei 1893 6 g A-O
1,167.000 Oct 1 1933
*4 000 000 gold_______n tfl Int.at Bkrs T r.C o.,N .Y .. trustee & In Denver
D e n v T r P o w is t Impt mtgef 1903 5 g A-O
1,026,000 Apr 11923
$1 600 000 g ($1,000) guar(Int. at Internat. Tr. C o., Denvor, trustee,
nrlnclna! and Interest— tf I or Guaranty Trust Co.. New York.
Denv Tr Term 1st rntge $ l,- f 19l ( f 5 g M-S
1.153.000
See toxt
600.000 g ($100 & $1.000)(Interest at Bankers Trust C o., N . Y .. trusg u a rp rln A lu t___ . o*tf[ tee, and In Denvor.
Notes payable, Dec. 31 1 9 1 7 .- -------------150,000
- - ------- Stock.—$9.000,000 common owned by Denver & Northwestern Ry. and
$ 7 5 0 non (J held for conversion of Denv. Tramway conv. bonds, tho remain
ing $250,000 being set aside for expenses of organizing Denver Tr. Co.
Preferred stock is reserved for conversion of bonds.
„
_
Hi/ntis.— o f the bonds reported outstanding as above, $838,500 Denver
Citv Tramway 1st & ref. 5s and $18,000 Denvor Tramway Terminals 1st
5s are owned by the Denver Tramway Company
Convertible bonds
aro redeemable at par and accrued int. on 90 days’ notico. Wore convertible
un to April 1 1918 into an equal amount o f 7% cum. pref. stock, accomnaniod bv common in amount equal to 25% of face value of the bonds con
verted 'O f the Denver & Northwestern 1st & collat. mtge. bonds. $6,
400 000 have been exchanged for Denver City Tramway 1st & ref 5s
and’ $900 are in treasury of Denver Tramway Co. (not Incl. in amouni
city lines and 39.81 miles of Intorurban lines; gauge. 3 ft. 6 in. and 4 ft.
814 in. 252 motor passenger cars, 141 trailers, 160 freight and bG misc.
cars; total, 619 cars. All freight equipment leased to Denver & Inter
Mountain RR. Co. Capacity of central generating plant, 19.200• k .w .
5 sub-stations, 2 of 1.500 k. w. each, 2 of 1,000 k. w. and 1 of 900 k. w.
OFFICERS.— Chairman of Board, C. K. Boettcher; V .-P ., S. M . 1 eiry,
Gen. M gr., F. W . Hlld; Sec., H. S. Robertson; Treas. H. J. Alexander;
Aud. Wm. A. Doty.— V. 106, p. 2444; V. 107, p. 401, 1003, 1192.
(3) Denver & Inter-M ountain R R .— Operating Company.
The Consolidated Securities S Invest. Co. owns all the stock and notes.
c
Receivership— Default— In July 1918 Supt. W . H. Edmunds wa-s ap
pointed receiver, default being charged in payment of interest on the $500,
000 1st M . 5% notes due 1938. The notes were issued in lieu of $500,000
1st M . 5s due 1938, which were canceled and cremated N ov. 1 1917.
ORGANIZATION.— Incorporated In Colorado about Oct. 29 1907 as
inter-Mountain Ry.. but on April 2 1909 changed name to present title.
Private right of way. Franchises in Deuver and Golden are perpetual.
Has freight traffic agreements with Denvor Tramway Co and arrange
ment-. for Interchange of transfers on Denver City Hues: also contract for
use of Tramway Co s tracks In entering Denver.
„ ___ _ „
Fare Increase.— On Juno 22 1918 filed with tho Col. P. U. Comm, a
now tariff providing for a fare increase from 2 X cents to 3 cents a mile
A
and an increase of 10% in commutation rates.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
* l *ooo.ooo ..............
stock, si .ooo.ooo ($ 1 0 0 ) .............................- - - - 1st mtge notes--------------- ---’ *>%_
a1
)
1J38
ROAD, &C.— Incl. in Donver Tramway Co.— V. 107, p . 82.
DERRY PA,
WESTMORELAND COUNTY RAILW AY CO.
1oni
»_
ORGANIZATION.— Incorporated In Pennsylvania on Dec. 27 1904. U
a consolidation of the Bradenville & Derry Street Ry. and the BlalrsvIUe Sc
D STOCKe AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Fire? mortgage ^$2SOOOOTiT 1905
5_
g'M -S
*250j)00 Mar" I '1 935
($100)
- - - - I c 'l l n t . at East End Sav. & Tr. Co.. Pitts. Trus.
Oar trusts'"............. ............. - 1915
M-S
7.800
See text
Bonds.— No "sinking fund and bonds are not subject to call. Of the
amount reported outstanding $42,100 are held in treasury.
.. .
The car trusts mature $b00 s.:a.. March and Sept. 15. $4,200 retired.
EARNING S.— For year ending Dec. 31 1917, gross, $53,387, net, $25, 737; other income, $1,913; int., $12,786; taxes $616; imsc deduc., $9,000.
surplus, $5,248. Passengers carried during 1917, 1,05b,113.
OFF[CE"RSP- P r « 7 “ ohn E. PoUer; V.-Ps.. F. Wm. Rudell and J. A .
McComb; Sec. & Treas., II. S. Calvert, all of Pittsburgh; Supt., S. F.
______
Schwerdt, Derry.— V. 82, p. 50- ^
DES MOINES, IOWA.
n p c MGINPS CITY RAILW AY CO,— A trolley road.
..
. ..
In \larcb 1911 N. W. Harris of Chicago acquired practically all the
stock not previously owned by him of the Des Motacs City Ry. Co. and
of its allied corporation, the Inter-Urban liy. Go. V. 92. p. 794.
ORGANIZATION.— A consolidation In 1893 of the Des Moines St. R R .
Oo. and the Des Moines Suburban Rv. Co. Is authorized to carry freight.
Franchise.— A new 25-year franchise was granted at an election on Nov. 29
1915 which places entire control of service In the hands of a commission
(one member appointed by city and the other by tile co.) and
arbitration when the commission cannot agree. Also provides for 6 tickets
for25cts. half-fare for children under 12 and 20 tickets for 50 <ts. for highschool students. In Juno 1918 the sale of 6-for-a-quarter tickets was
suspended for the duration of tho war in order to provide for increased
wages of carmen. V. 106, p. 2559; V. 107, p. 401. The city, 'when em
powered to do so, may purchase tho property on 6 mos._ notico on the basis
of ;l .$5,000,000 valuation as of Aug. 1 .1915. I'or further details, see
V 101 i). 1885. The franchise also provided for extensive rehabilitation
and new construction, the major portion of which has already been aoC°/tefinancing.— A new General & Refunding Mtge. was created In 1910
to earn out the terms of the above franchise and provide for fu ture capital
expenditures. Owners of the $2,202,000 5% Rtf.
bonds o f l 9 0 1 d e posited with the committee formed upon default of int. due Apr. 1 1915
on said bonds (V. 100. p . 1348) were given the opportunity to (1) exchange
certificates of deposit tor new bonds. $ for $, and receive a bonus of 5%
($50) In cash witn adJiLstment of int. In cash or (2) receive p a r e n t in full
In cash. The committee waived all defaults under the Ref. M. (V. 100.
n 13 4 8 ) and consented to the discharge of the receiver (V. 101. P- 130).
102 p. 712
All ^Tt $54,000 of tho $ 2 ,4 1 3 ,0 0 0 Ref. M bonds outstand
ing have been acquired and deposited under the Gen. A Ref. ^l^ge.
Guarantees the Inter-Urban Ry Go. 1st, M bonds, p & l
See below.
'A',., Preferred Stock — On M ay 15 1918 stockholders voted to increase
the auth "'capital stock from $.3,000,000 common and $250,000 6%
non-cum pref stock to $3,000,000 common and $1,500,000 7% cum. pref.
stock The new pref. stock carries tho same voting powers as tho common
stock and Is cum from M ay 1 1918 and callable, a.l or in part, on any div.
date at 107H and divs. V. 106, p. 2010.
Maturity.
W tM ;f 1 8 8 9 "
t , . , ! ™ ™ 1 Oct. 11918
and 1919
gold ($1.000 each).........n t f'iGont A Com m .Tr .ASav .Bk . .Ohlc.,trusteed
1901
6 g A-O
541)00 April 1 1921
Des Moines City Ry refund’g
mtge, $3,000,000. gold Int. at Harris, Forbes & Co., N. Y.; also
Harris Tr. & 8. Bk.. Chic. Trustee, 111. Tr.
($1.000)...................c * .n t f
& Sav. Bk. and Wm H nenkle of Chic.
1916 5 J-J
4,7353)00 Jan 1 1936
!
Harris Tr. S Savs. Bk., Chicago, Trustee.
c
Interest at New York and Chicago.
1916 6 g M - S
l ’ 100.000 M a r l 926
n
Int. at 111. Tr. & 8. Bk., Chicago, trustee.
Bonds.—$160.000 Gen. & Ref. M . bonds of 1916 are reserved to retire un
derlying liens. An additional $762,000 bonds may be ^ u etl for the full
amount exnended for construction, reconstruction and rehabilitation,or for
permanent exts.. enlargementsandadds.; remaining $9.34.3.000 bondsmay
only lio Issued Tor 80% of expend, for perm exts enlargements and addns.
under conservative restrictions. Bonds are red. on any Int. date at 105
and Int. Mtge. provides for an annual expenditure, beginning with 1920,
of 20% of gross earnings for malnt., repairs and renewals for exts.
and addns. for which no bonds may be issued, or for the purchase or retire
ment of outstanding bonds. V. 102, p. 975. Of the $2,413 000 ref. mtge.
bonds of 1901 outstanding. $2,359,000 have been acquired and deposited
under the gen. & ref. M ., leaving $54,000 In the hands of the Public,
Paf
bonds can be called on any interest date at 106 and Int. S nk«
fund $10 000 yearly on April 1 from 1900 to 1910. $15,000 from 1911 to
, A, r! andS25 000 from 1916 to 1920. The Des Moines Street R R . 1st M .
"RE 1*0R T .— For year
6s^are due $2.W»0 S n u illy from Oct. 1 1914 to Oct. 1 1918
IIOa I)0— Operates*^.96$100 000 due Oct. 351919. The rails. 153 pasmiles of track. 1 to 129-lb. debentures of 1916 are callable o
,
date up to and Incl. Mar. 1 1921 at 102 H and Int.; thereafter at 1
t
R EPO RT.— For year ending Dec 31 1917. gross, $l,o30
SCC?FFIC2 s
ER \— ^ S ^ 4^ IS ch m idt; Sec.. O. ID B ld =T^ ’ VF ‘l06‘
.,ai
.0"
for Denver City Tramway
os. iu e oeuvei
VttJ i
Co prior to the sale of Its properties, executed a mtge. upon all Its physical
properties (other than those formerly belonging to the Denver & Northwestern Rv Co ) junior to tho lien of its First < Ref. S. . Mtge., as addlfe
tlonal security for the [$0,000,000] First S Collateral bonds of tho Denver
c
& Northwestern Co the payment of which North western bonds tho Deuver
Tramway Co has assumed. Donver City Tr. Co. 1st & Ref. bonds are
r e d . T lOS & Int af^r 1913 up to Nov l 1923: thereafter at 102), & Int ;
on 00 days’ notice. Sinking fund of 1% o f bonds out began Nov. 1 1914
until and Incl. Nov. 1 1923: thereafter 2% of bonds out; $656,000 retired
through sinking fund. The Donver Tramway Power Co. 1st Impt. Mtgo
bonds aro subj. to call any int. date at 10.) and int., sinking f ’lnd o f $50,000
per annum, to retiro bonds at 105 and int., commenced in 1908, and $474,
000 have been retired, int. payable in New York and Denver. I he re
maining Donv. Tram. Term. Co. bonds are for impts. They mature
$60 000 annually Sept. 1 1916 to 1940. Red. as a whole on any int. day
at 105 S Int. on 30 days’ notice. V. 98, p. 1156 $ 1 8 0 000 retired
c
REPO RT.— Of Denver Tramway Co. (1917 report In V. 106, p. 2444).
dross
Net (after
Other
DcUacbalance
Dec 31 Year—
Earnings. Taxes. &c.) Income.
lions
Surplus.
1917
— ..$ 3 2797576 $1,143,474 $2,412 $968,617 $177,269
ii) 6...................... --"3.110.920
1.350.897
3.182
981.102
378.917
Passengers carried in 1917, 79,983,997, against 76,198,497 in 1916.
ROAD AND EQUIPMENT.— including the Denver & Inter-Mountain
R U .f owns 251.80 miles of oloctrlc track, of which there are 211.9b miles of
37
R A IL W A Y S
p.a[230.20S 8 f5 b &25A V Tri^ - p H4 0 t S S T ^
10. 2
5r
^
^
^ 106‘
i n t f r -URBAN RAILW AY CO.— A trolley road.
ORGANIZATION.— Incorporated In Iowa
c°ns*$uct a system pf
interurban roads connecting with Des Moines. The D m Moines City R y.
Go. guarantees the bonds, principal and Interest.
u
Tho location of Camp Dodge 11 miles outside of Des Moines made it
necessary for tho company to extend its Perry line about 2Yi mil<s and to
provide additional terminal facilities. Double-tracking of the linoto tlie
evamp was completed April 1 1918. Civilians pay 25 cents and soldiers
15ST 0 0 k "A N D BONDS—
C
Date. Interest. OuUtonding.
Maturity.
Stock. $1,200,000 ($ 1 0 0 )-..-- - - - -----^ ’ l^n'noo ADr‘ iI V i9 2 l
1st mortgage, sinking fund.f 1901 5 g A -0_ _l.loO.yOU "P v1
1
st
sinaing luuu.
c
gold ($1,000), guaranteed Cont. & Comm. T r. S Sav . Bk., Cnlc.. Trus.
p. & I. by Des Moines City Int. at Harris. Forbes & C o.. New York, and
Harris Trust S Savings Bank. Chicago.
c
R y _ _________ .-C *.n tf
_
6 J-J
250,000 Jan 1 1923
Debentures, $350,003 ($1,000 1913
and $500)...........- ......... ntf Int. at Harris T r. & Sav. Bk.. Chic.. Trustee
39
ELECTRIC RAILWAYS
Se p t ., 1918.]
Bonds__Other bonds may be Issued for acquisitions and extensions at
notover80% of cost and at not over $16,300 per mllo for now mad. but only
when net earnings equal 1 )4 times all Int. charges on bonds out and those to
he Issued
Bonds are subj. to call at 105 and Int. A sinking fund of 5%
o f toL of annual net earns., aftor payment of all charges became operative
Anril i 1000 and bonds so purchased are to be kept alive for purposes of th»
fund- $26,000 Is held In sinking fund. Included In amt. outstanding above'
Debentures are red. on any Int. dato at 101 and Int.
EARNING S.— For year ending Dec. 31 1917, gross. S i00,392; net,
after taxes. $119,038.
ROAD.— Operates 82.8 miles of track (lncl. sidings) connecting Des
Molne* and Colfax. Des Moines and Perry, with branch to Woodward.
Standard gauge; 00 and 70-lb T rail
12 Pjss cars 4 pass c o a c h ^
7 electric engines, 5 express, 3 caboose, 87 freight and 1J seivico cars, oa rs
enter Des M oines over tracks o f Des M oines C ity lly .
O F F IC E R S . — Same as for Des Moines Olty R y . — V. 74. p . 080.
DETROIT, MICH.
DETROIT UNITED R A ILW A Y.— (See Map page 38.)— 'T rolley.
ORGANIZATION.— Incorporated In Michigan Dec. 31 1900 and took
over franchises aad properties o f the Detroit Oltizem .Street R y.. the De
troit Electric Ry.. the Detroit Ft. Wayne & Belle Isle and the Detroit Sub
urban. V. 72. p. 44 ,183. Embracesall the street railway lines In Detroit.
U T ater absorbed bv purchase the Detroit & Northwestern R y.. which Is
Imow^as^tlie Orcharf^Lak^dlvblon, ^ e
m thfl Pontiac! division tlio W yandotte & Detroit RIvbt i^yM Known as the
il
W y a n d o ^ t ^ M io n .^« d the iJeteolt & Flint form-u-ly tho D etroit RochesRnmnn S T.akn Orion ltv . and known as tho Flint division.
r
Owns entire capital stock of the Detroit & Port Huron Shore Line (Rapid
.I i!r7» i v ti.in ■ SandwIcli Windsor & Amhorstburg Ry. (acquired In
A,,J to n iv De^mlt Monroe & Toledo Short Line Ry. (acquired In Feb
loom .m i the^ Detroit f f i s o n & Chicago Ry. The last-named is a re
iSffanlvitlnn of the Detroit Ypsllantl Ann Arbor S Jackson Ry.. the Jack
c
son A n n A r b o r A D e tr o itR y.and the Detroit Plymouth & North vllle Ry.
w hlA were acouired In Jan. 1907. Also owns the entire capital stock of
tho Detroit Almont & Northern R R ., which It leases for 50 years from 1915,
and guarantees and assumes Its bonds as a direct obligationi, by endorsem’t.
In Aug. 1901 purchased 180 shares (all) o fth e stock of the City Electric
thn Peonlo’s Electric Light plant of Windsor. Ont
. ^vSnr/iiies - O n M iy S 1910. Pres. J. O. Hutchins wrote: "Certain of
the franchises in Detroit have expired during the past several years. These
franchtees! which relate to about 15% of the total mileage, have not been
renewed but the Detroit United Ry. continues to operate these lines In
S o n as heretofore, having made agreements with the city authmitles
for rates of fare (but see remarks below) and extensions of its lines. These
conditions liavo created what may be called an indeterminate franchise,
which tho management anticipates will continue in force as heretofore so
long as the co f famishes its present efficient service at existing low average
rates ” (See below ) For decisions relating to Fort St. franchise see V. 95.
r
Detroit & Northwestern R y.
Maturity
Date.
Interest. Outstanding.
1st mtge, *1,000,000. gold/ 190i
4)4 g M-N $855,000 May 1 1921
(8100, $13)00)_________ c*\Interest at Union Trust C o., Detroit, Trust.
lionds.— Are guar., p. S 1.. by Detroit United Ry. by end. and are sub
c
ject to call at 105 and mt. on 60 days’ notice. See V . 73. p. 494.
Detroit & Pontiac Ry.
____
_ . ,
1st mortgage, $500,000, gold/ 1897 5 g F-A
$500,000 Feb 1 1922
($1,000)_______________c*( Washington Trust C o., N. Y ., Trustee.
(Interest at People’s State Bank, Detroit.
1st con mtge. gold ($1,000)./ 1901
444 g J-D
600.000 June 1 1920
$1,100,000 .................c*&r|Int. at Washington Tr. Co , N. Y .. Trustee.
Bonds.— *500,000 consolidated mtge. 4)4% bonds are reserved to retire
like amount of 1st mtge. bonds. Bonds are subject to call at 105 and Inter
est on 60 days’ notice after June 1 1911. Principal and Interest of both
issues guaranteed by Detroit United by endorsement.
W yandotte & Detroit River Ry.
1st consol, mtge. $425,000/ 1898
5 g J-D
$425,000 Dec 1 1918
($1,000). gold_________ c*(Interest at Union Trust C o., Detroit, Trustee
Detroit & Flint Railway.
The Detroit & Flint R y . was organized to acquire the Detroit Rochester
Romeo & Lake Orion, together with the Nor. Det. Elec. Ry. and the Det.
Utica & Romeo Ry. The consol. M . Is a 1st lien on these last two proD ties.
Date.
Interest. Outstanding. _ Maturityq
5 g J-D
$1,100,000 June 1 1920
D R R & L O Ry 1st mtge. 1900
■Inking fund, gold ($1.000), Interest at American Trust & Savings Bank,
Chicago, Trustee; also Guaranty Trust Co.
$1,600,000; unissued bonds
_____ _
New Y o rk .
_ .
have been canceled------- c*
01 t &
ibc consoi a i.j
5 g F-A
1,400,000 Aug 1 1921
Detroit « ; Flint 1st consol M , 1901
g.
$3,000,000 ($ 1 .000)--c* lint, at Tr. Co. of America. N Y . . Trustee.
Bonds.— Of the consolidated mtge., $1,100,000 are reserved to retire
bonds of like amount of the D. R. R. S Lake O. R y. and $500,000 have been
c
canceled. Consolidated bonds are subject to call at 100 and Interest
on 60 days’ notice. Both Issues are guaranteed by the Detroit United
Ry.; see form of guaranty In V. 70, p. 1300; as additional collateral
•ecurlty” on the Flint bonds 1st consol. 4)4% bonds of the Detroit United
are deposited. $ for $, with the Guaranty Trust Co. or New York, and would
be available In the event of default on the Detroit & Flint bonds.
R E PO RT.— Annual report for 1917 was In V. 106. p. 810.
P‘ AmiraiinPofP o^!tmnJ's Propertg.— In Oct. 1915 Prof. Mortimer E. Cooley
C
fD ^ Pa report of h s appraisal o f the company’s property, which fixed the
vah e In P one-fare wne on Jan. 1 1 9 1 5 at $29,714:079. or less depreda
the
tion at 8 2 3 .008.605; physical value of entire system 548.400.764, with denror considered $43,051,662. The value of all franchises was placed at
*7 783 181
Total value of D. U. Ry. system, $60,184,105, or loasdcprec.,
*60 816 003 V 101 p. 1404. Compare V. 100. d . 139. 308.
City Purchase Plan Defeated.— At the election on N ;v. 2 1915 the voters
defeated the plan (V. 100. p. 811; V 101. P -614' for the acquisition by the
cltv of the c o .’s linns and property within the one-fare zone V 101 p.1553.
City Purchase Again Brought Up.— In July 1918 tho D etroit Streot R R .
C om m , reopened negotiations with tho co. for tho purchase o f its properties
udou some agreeable basis.
V . 107, p. 181.
1 lteporl by Engineers to Board of Street Ry. Comm. See V. 106. P. 929.
Back Taxes Paid.—On Oct. 14 1913 taxes aggregating *323,692 (lncl.
*04 814 Int. at 6% ) were paid to the City Treasurer in accordance with the
agreement with tie city reached in Aug. 1913 (see V. 97. p. 443). The
*75 000 for back rental on Fort St. was also paid. V. 97, p. 1115.
Fare Decision.— Tho United States Supremo Court on Dec. 11 1916 up
hold tho c o 's right to charge extra faros for transporting passengers beyond
the old city limits Into territory which has sinco been brought within the
city as at present oxtouded; also hold tho co. need not sell reduced rate
"workingmen's hour" tickets in the annexed territory
Fares — On Dec. 2 1917 tho company began charging a straight 5ront. faro thus abrogating the 7 and 8-tickets-for-25-cts. agreement
entered into with tho city on Aug. 8 1913 (see V. 97, p. 443). The
higher rate of faro applies on all city lines except the Sherman, Four
teenth Cros-town anil Harper linos, where the old rates of 8 for 25c. and
0 for 25c. continue under a franchise with 7 years to run. By way of ronrisal tho City Council on Dec. 4 1917 (a) adopted a resolution directing
the company to pay a rental of $10,000 a day for the use of streets on which
franchises have expired; (6) rescinded permission to operate skip-stop on
Dractically all city linos; (c) recalled the resolution under which the co. had
rerouted many linos downtown; (d) placed a fund of $35,000 at the disposal
of tho Municipal Railway Commission to employ engineers to determine
whether tho Increase Is justified, and (e) instructed the Corporation Counsel
tn ascertain whether tho co. has any right to operate freight and intorurbau
cars within the city of Detroit. V. 105, p. 2305. At the beginning of
Amr 1918 faros wero increased to 6 cents, or 10 tickets for 55 cents. V.
107 n 003. On Aug. 9 1918, however, tho Detroit Common Council
j r a ln a n c o fixing 5
mss’cii an ordinance n x i u g o cts. or u ridos iu i 25 u o s ., with ir o u w a i w i c i a , as
6
for
cts., w iw i free transfers,
^reasonable c h a r g e o n t h e c o . ’“ Hn«-. A r e s t r a in in g wrO woe cnrOlcr! for hv
A restraining w r it w a s a p p l i e d f o r b y
lo
’s lin o s
O
1
JU IU IlUdi th o piuv.
tho C t)llt JllG&O T u t t l o 1 1 t h o U.. o.. D 1st. vUlUv lUfuM d to h e a r luu p l e a .
c o b u t J u d g e 1 UlUu in tliu u 8 L/wp. Court r elUs e
tho U. S. “
Supreme Court and in Sept. 1918 Justice
T h e co annealed "
‘
' ' to i f i l TT “
William it Day rendered a decision denying tho co .’s petition for an order
Willi
to prevent the City of Detroit from enforcing its 5-cent faro ordinance,
v ' i(i7 n 1192. Compare V. 107, p. 1003.
’o n Aiiir 27 1918 was auth. by tho I.-S. C. Comm, to increaso Inter
urban nassongor fares by from 25 to 50%. Tho now rato is 2 cents per
mile nlus a 5-cent faro In Detroit. All mileage and reduced tickets will bo
™lmlnatecf except school tickets and children’s rates
V. 107. p. 905.
Wanp Award bu WdT f^abor Hoards V. 107, p. 501*
On Feb 6 191 7 authorized amount o f stock whs Increased from $12,500.
000 to 315 009 000 and tho $2,500,000 now stock was offered pro rata to
Stockholders o f ^record Feb. 16 1917 at par. V. 104. p. 103. 559.
1 In Mar. 1918 issued $4,500,000 coll. tr. notes to refund $3,500,000 notes
which fell (luo May 5 1918 and to reimburse the co. for advances made to
refund underlying bonds and tor capital expenditures. V. 106, P* 1126.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
St&kS15.000.M O (S lO o tT ., - - - Q M
$16,000,000 Sept 18 2%
1st consol mtgo, $ 2 5 .0 0 0 ,0 0 0 , f 1902
4)4 g J-J 14.555,000 Jau. 11932
irniH i 9 i.u v »j.............c c.v ^ at /Vg0ncy Hank o., Montroai,
c*cnt(Guaranty Trust C of N. Y .. Trustee. Int.
goia c*i mull
D e tro it U nited R y .. R a p id .R y . S y s ., S a n d w . W in d . & A m h e rstb . R y ..
D e t. M on roe & T o l. S h ^ L in o R v - ^ n d D et. J a ck . & C h l c ^
Revenue passengers____356.208,429 335.599,802 275.576.409 252.961.221
Transfer passengers.___119,962,125 119.899.335 98.541.214 35,354,131
Gross earnings________ $17,427,940 $16,036,669 $13,235,551
Operating expenses____ 13,259,791 11.215,802
9,331,804
8.702,660
Net earns, from oper. $4,168,149
Inc. from other sources.
411,737
$4,820,867
351,335
53,903.747
280.815
$3,537,344
273,728
Inc. from all sources.. $4,579,886
luterest and taxes
$2 404,355
$5,172,202
$2,291,410
$4,190,562
$2,229,801
S3.811.072
$2,168,072
150,000
---------
---------
---------
Total deductions____$4,473,106
$106,781
Surplus Income________
$3,935,160
$1,237,042
53.729.801
$460,761
$3,200,072
vo51»000
D iv id e n d s ________( 7 % % )1.118.750 <6K)843.750
Depreciation charged o ff
800,000
800,000
______
______
Ciontlngentllab. reserve.
Rosorvo for taxes______
(6)750.000
750.000
______
W 75 0 .0 0 0
50,000
D IV ID E N D S .— First dividend o f 1% on D etroit United stock was paid
M arch 1 1901 and 1% quarterly thereafter untilI Aug- 1 1 9 0 5 ^ when rate
was raised to \ M % quarterly. On N o v . 1 1905 1)4 % . In 1906 5 % . In
1907. Feb.. 1 )4 % : M a y. 1 )4 % ; A u g .. 1 )4 % - N o o o to M ar. 1911. when
1 )4% was paid; same amount quar. to and lncl. D ec. 1912. in M arch
1913 to and Incl. M arch 1916. 1 X % quar. In June 1916 to and incl.
M arch, 1917, U 4 % - In June 1917 to and lncl. Sopt 1918, 2 % .
ROAD.—On Jan. 1 1918 operated 894.4910 miles of track, as follows
Detroit United, Including V^andotte fc Detroit River B y .. Detroit &
Northweetern. Detroit A i’ ontlac, Detroit &
522.2714 nailes, Detroit &
Port Huron Shore Line. 137.9142 miles: Sandwich Windsor & Amberstburg
R y.,41.3771 mhos; Detroit Monroe it Toledo Short Line. 82.2944, mUee.Detroit Jackson U Chicago R y., 110.6339 mile* Railat7 7 , 8 Aaod 98-lb. steel,.
Does an express service. Has 1,713 closed passenger cars. 189 open paMenger
cars, 284 freight and construction cars. 37 Hus cars. 106express cars. 20 mis
cellaneous cars, 4 locomotives, 4,563 motors and 3,819 trucks. There are
seven power houses, with a combined capacity of 62,050 b. p.. 2 storage
batteries, with a combined capacity of 4.500 amperes and 19 sub-stations
with a combined capacity of 21,750 k. w.
OFFICERS.— Chairman of tho Bd.. J. O. Hutchins. Detroit: Pres. &
Gon. M gr., F. W. Brooks, Detroit; V.-Ps., E. W . Moore, Cleveland, and
A. J. Ferguson. Montreal; V.-P. & Treas., Allen F. Edwards Detroit: Sec.,
A. E . Peters. Detroit. General offices, Interurban Bldg.,.Detroit.— V . 106.
p. 1461, 1796, 2559; V. 107, p. 181, 501, 603, 695, 802, 905, 1003, 1192.
(1) D e tro it & P ort H u ro n S h o re L in e R y .~ A trolley road.
Entire outstanding capital stock 1* now owned by the Detroit United R y.
ORGANIZATION.— Incorporated In May 1900. Is a consolidation of
tho Rapid Railway Co., the Detroit M t. Clemen* & Marine City Ry. (the
purchaser of the properties of the M t, Clemens & Laktslde fraction Co. and
the Detroit & River St. Clair R v .). the Port Huron St. Clair & Marine O ty
Ry., the Connors Creek & Clinton River Plank Road Co and the City
Electric Ry. of Port Huron. The new company owns the capitalI stock of
each road. The consolidated company operates all the track* In Mt . Clem
ens and Port Huron, and the through route from Detroit to Port Huron
running through Mt. Clemens, New
oS-a
St. Clair. Also owns the capital stock ($25,000) of the Detroit & Lake
St. Clair Ry.
STOCK AND BONDS—
Dale.
Interest. Outstanding.
Maturity.
latTmtgo2 $ 2
°000\$ l.OOOj] 1900
5~g J;J"
cannot be called. go \ d .c**r W o n T r ^ t C o .
2',497'opo Jan 1 1950
N. Y.
Bonds— Remaining $3,000 1st M . bonds are set aside to rettrO the bond*
o f the Port Huron St. Clair & M arine C ity R y . V . 98. p. 1693; V . 99, p.119
P o rt H u ro n S t. C la ir & M arine C ity R a ilw a y .
BON DS
Date.
Interest. Outstanding.
Maturity.
let m ortgage, gold, $300.0001 1900
5 M -S
,53’000 M ar 1 1920
(8500 and $ 1.000)_________/Union Trust C o ., D etroit. Irestee.
T ho remaining $297,000 bonds have been canceled; $1,000 in D etroit
United R y . treasury as o f Sept 1 1918.
D e tro it & L ake S t. C la ir R y . C o .
B ON DS—
Date.
Interest. Outstanding. Maturity.
1 st m ortgage. 8400.000. g old l 1900
5 g A-O
*390,000 AprO 1 1920
Coll trust notes $4,500,000/ 1918
7 g A-O l
4.500,000 April 11923
($1 000) gold
c*.tf(Central Tr. C o .,N .Y ..trustee. Int. In N .Y .
(81 000) _____________ c *fln t. at Union Trust C o.. Detroit, Trustee.
Detroit United Ry. stock listed on the Now York. Montreal. Detroit
Bonds.—The"lionds are guaranteed, principal andI Interest, by the Detroit
and Cleveland Stock Exchangos.
... . .
.
.
.
„
, ,
& Port Huron Shore Lino R
Detroit M t.
Bonds— Of tho $25,000,000 first consolidated mortgage bonds authorized. Clemens & Marine City R y . y .. the Rapid Railway Co. and the the *390.000
They
Of
$7,580,000 are reserved to retire underlying Lens. $ 1 0 0 ,0 0 0 are with trust reported outstanding $100,000 wereare not fubject to call. Sept 1 1918.
held by the Det. Unit.
company for conversion and $2,705,000 are held in treasury. Callable at
ROAD.— Total Det. & Port Huron System. 1 3 6 .3 9 0 0 mllea.
105 and Interest on any interest date on 60 days notice. Seo V. 73, p. 1111;
EARNINGS.— Now Included In report of Detroit United Ry.— V. 77. p .
V 103 n 320. Listed on N. Y. Stock Exchange. Tho collateral trust
34: V. 84. p. 338.
notes aro secured by a deposit o f $9 ,0 0 0 ,0 0 0 par value of stocks and bonds
(2) Sandwich W indsor & Amher*tbcrg R y.— Trolley.
of constituent companies. No additional Detroit United Ry. 4)4% cons.
M . bends can bo issued except for refunding purposes, nor can tho constit
ORGANIZATION.— Incorporated under special charter from Province
uent companies, whoso shares aro pledged under theso notes, increaso their of Ontario. Owns entire capital stock ($100,000) of the YVlndsor & Tecumbonded debt while any or these notes remain outstanding. Notes are ro- ieh Electric Ry. Entire stock of Sand.Winds. & Amh. Is owned by Det. Un.
deemable as a whole or In amounts of not less than $500,000 on 30 days
STOCK AND BONDS—
Dale.
Interest. Outstanding.
Maturity.
notice at 101 and int. to April 1 1922; thereafter at 100)4 and int. V. 10G,
D’ 1120'
Detroit Electric.
Dale.
Interest. Outstanding.
Maturity.
Delimit Rv 1st M . g ($1,000)/ 1895
5 g J-D
$1,500,000
1918-1924
on 50 34 miles. 1 * _ _ _c*Ar|Interest at Cleveland Tr. Co.. Trustee.
Ronds— First mortgage bonds of the Detroit Ry numbered 1 to 600 ma
ture in order of numbers at $50,000 per annum .beginning Doc. 1 1912;
numbers 001 and above mature Dec. 1 1924. $300,000 have been retired.
Detroit Fort W ayne & Bello Isle
mtge, gold, $1,200,000 f 1898
5 g A-O
$1,200,000 April 1 1927
*i non?
c*&r(New York Trust C o., Trustee. Subject to
;
[ call at 105 and Int. on 60 days' notice,
nterost at Koan. Taylor & C o.. New York.
Consol M t g e ^ o l i ? 1MOO"5661 1902
(H s T -D
'’ cttLOOO D ec T 1922
gold ($1*000? :
Nati onal T ?u «t C o .. Ltd . Tmx.nto T ru .tee.
Wind & T e c E l, $300,000.1 1907
5 g M -S 2
189.000 S e p t 2 1927
gold (11 000) gu p t I c* National Trust C o ., L td ., T oron to, Trustee.
& . - S ? % f & P ^ : ^ d s are su b j. to call after D ec. 1 1912 at 105.
A
$110,000 o f the bonds were In the Detroit United B y - S e p t 1 1918.
Windsor & T ecum , bonds are guar., p. A I., by Sand. W indsor A Amherstb.^
R y. T hey aro redeemable since Sept. 2 1917 at 105 and Int. on 60 days
notice. Interest on both mortgages la payable at com pany s office.
ROAD.— Operates 41.3420 miles of track In andbrtween m ndsor.W alkorvillo. Sandwich and Araherstberg, Including City R y. of Windsor (2.52
nillas). ooerated under lease.— V. 75. P* 1303. 1400.
40
ELECTRIC RAILWAYS
Detroit M onroe & T oledo Short Line Ry.
UKGA^IZA I ION — Incorporated In Michigan on Dec. 11 1902.
In Feb 1900 entire stock wa* acquired bv Det Unit Rv V H2. o 392
lares. In July 1918 applied to the Ohio P. S. Comm, for autii. to in
crease passenger rates to 2 ^ cents per mile.
SfnX0
m n n ,iltON IJy—
Date.
Interest. Outstanding. Maturity
aCO , $3 ,000,000----------------- -------CK
52 58' 000
$3,000,000 I 1903
6 g " j-j*
3.'(100.000 /an T 1933
gold1 ($1.000) - - - .........c*/Union Trust C o., Detroit. Trustee.
a re n o t suhje ct^ o cafi*3
^ * In New York- No fill' klrl« Orud and bond*
. ^ ° r AD T . ° perates 50 “ dies or road from Toledo to Detroit and 4 miles of
from Monroe to Lake Erie; completed Nov. 5 1904
At Toledo con
nectlon Is made with the Lake Shore Electric Ry for Cleveland. Is of
Pn- °,n HTlvate right of wav standard gauge laid with
70-lb. T rails. Total track, 81.2944 miles. V. 98, p. 235; V. 107. p. 82.
(4) Detroit Jackson & C hicago Rv.
1/A.T [ ° ? • A bolding co. organized In Mich In 1907 by Detroit
,—
United Interests to take over the Det. Ypsil Ann Arbor & Jack. Ry.. the
»w. ^£ . n «
l et„ Ry and the Det. Plym & Northville Ry.. paying
000
Entire stock owned by Detroit United Ry
^ BONDS— Date.
Interest. Outstanding
Maturity
stock (5100).............................
_
_$ 6 1 1 0 0 0
FI5lti C
nom l
S4-000-000( 1907
5 g F-A
2.000.000 F eb Y i9 3 7
1of(51.000) gold.
- - e* lin t, at Security Trust Co I >etro!t. Trustee
1st cons M Det Y A Ar&.Jack/ 1901
5 g F-A
1 (510 000 Feb 1 1920
$2 600 000,$500.51.000)gc*| l i t . at Detroit Trust Co Detroli. Trustee
■Det XPS& Ann Ar cons 1st M ) 1899
6 g F-A
330.000 Feb 1 1924
nom0<i'(t°i0 ' g- ($o00 & $ l,4 ln t . at Union Trust C o.. Detroit. Trustee
000) sinking fund annually/
Y Thenn e ? S>!in%& A n n- Y r ko r- v -J a c k s o n Jfir s t c o n s o l60.000 o tJuly c a lle d
v ps ,StAM A b
t ,0 J ’
11919
D pt
&
s cann
bo
TreasurynonllScptPT t1918UtBtandIng’ 546,500 wero in tho Detroit United
Monus of Det. jack. & Chic, are subject to call on any Interest
day at 105 and Int
Guar., p. & L. by the Detroit United Rys.; enough
bonds are reserved to retire bonded debtor the Det Yps Ann Arbor S Jack
t
Ry
' i ?A,P ,34& Of the amount reported outstanding, $1.114 ,000 wero
o
on Sept 1 1918 in tho Detroit United treasury. Of tho amount of Ypsilantl
& Saline 1st M. bonds reported outstanding, $16,000 were in the Detroit
United treasury on Sept. 1 1918.
v K.VA i i . T l umpteieo and lu operation from Detroit ttnrough Wayne and
Ypsilantl) to Ann Arbor and to Jackson; making mileage 100 miles, o f which
vE ^ , 7 ^ ^ & at,e rl« h t ° f w»y- Total track, 110.1617 miles
rlv,
Ralls
70 and 75-lb r girder. Does a freight business.— V 81. p 51. 450.
Detroit A m o o t
& Northern RR .
t t i f . A N K 'AT l<,r^ — Organized under the General Railroad Laws of
vi
Michigan
Is leased for 50 years from 1915 to the Detroit United Ry.
which owns its entire capital stock.
BONDSDate.
Interest. Outstanding. Maturity
m nnn\ r i , 2 .c* tf (Int. at „ 6. g Tr. Co. $'100,000Trus.. & 1940
($ 1 .0 0 0 & $.->00).. .'50" 'i l!S I, l 915. Union £ A ^
Detroit. Feb 1 N.Y
I he bonds are guar, and assumed as a direct obligation, by endorsement,
by the Detroit 1 nlted Ry which, In the event of any new issue of refund!ng or general mortgage bonds being placed on the Dot Un Ry. or Us sub
sldlarios. will reserve sufficient new bonds for the retirement of tho above
Issue at maturity
Red. on and after Feb. 1 1925 at 103 and int. Re
maining bonds to boar rate of Interest as fixed by the directors when Issued
but not to exceed 6%
0„ R0,A D -— Extends rrom Romeo, through Almont to Imlay City, about
20 miles; built on private right o f way; 70-lb. rails.— V. 101. p. 130-
[Vol . 107.
r
.
D U B O IS , PA.
BOIS ELEC3 RIC & FRACTION C O .— In Nov. 1916 Control was
^ ‘lulred by the Keystone Utilities C o., which see under Scranton. Pa.
.noY,
. I V . Y.N ~ l, corP -tn New Jersey on Nov 18 1901 as the Amern
L a” .T ow n Light ( o. and name changed later as above. Owns all o f the
®
'lock of the On Bois Klee. Co. and the Du Bois Trac. Co. V. 76, p. 972.
exclusive* ^°r botb street railway and electric-lighting are perpetual and
f„7
In‘ erest
MaturitvC°/«ro,urilSt i'.n,/4e' 8300,000/ 1902
5 g M-N
280!500 May 1 1932
($o()0). gold . . . . e*nttl Int. at Columbia Trust Co.. N Y.. Trustee.
nkv ,f! fund- but subject to call at any time at 105 and Int.
EARNINGS.— For years ending Dec. 31:
Calendar Years— Gross
Exp & Taxes.
N et.
Interest.
Surplus.
.................. S nv’ooa
$2 H ° 6
814.025
$23,680
131,298
84.185
53.113
24,126
28.987
O lF W E M .- P f f f i ., J. J. Grace; V.-P., J. P. Rawson; Sec. & Treas.,
W. II. Davis. V. 89. p. 1667; V. 103, p. 2340.
DUBUQUE, IO W A.
DUBUOUE ELECTRIC CO.
ORGA N IZA TIO N .—Organized in Delaware June 3 1916 and acquired
the Un on HJectrlc < o .. of Dubuque, (see "E lec.R y .” Section forM av 1916).
Does the entire electric lighting, power and street railway business In Dubuqueanti vicinity. Owns East Dubuque Elec. Co., serving East Dubuque
III. Also sells power to the Eastern Iowa Light & Power Co., serving 8
communities within easy transmission distance of Dubuque.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Com stock $2.ooo.ooo ($100)......................
$6k? non
Pref 6% cum $2.000,OOO(SIOO)___
Q-M
800 000 " " S e o t e x i
l8n(m^6 '°iHO'» 101 & int on d n1916at 6 J ~D
W)i n,.H 00i&
0
2.390.000 June Central
000) red at
t.
Chicago or New York. I 1925
60 days notice
.c p tl Trust Co., of Illinosls, Trustee.
Stock. Prof, stock Is callable at 110 and divs. and lias equal voting power
with common. V 103. p. 410.
Bonds. —Secured by an absolute first and only mortgage on all tho co’s
properties rights and franchises. Add'l bonds may bo Issued for only 80%
of cost of permanent add ns and impts. and then only when net earns, for
preceding 12 months have been at least 1A times tho int. on bonds out
standing and those to be issued. Sinking fund from Juno 1 1917, 10% of
gross earns., either to purehase bonds or call them at 101 and int.,or for
impts., <fec. V 103, p. 410.
Dividends on pref. stock have been paid regularly from date of organlzat’n.
Earnings— Year ending— Afar. 311918. Afar. 31 1917. M ar. 31 1916.
« r'*»
............................... $641,725
$614,401
$540,000
203.530
224,466
230,572
Ne^ f e L a^ “ V,.................
k .n o Y K ,Y • Power station with 9,500 k. w. generating capacity:
“
about 220 miles of transmission and distributing lines; 20.7 miles or track
ln 5it;3
^and suburbs, substantially all 70-lb. rail; 90 cars.
OFFICERS.— Pres^ I. V Elston. Jr.. Chicago: V.-P.. ri. B. Maynard.
Dubuque, la.; Gen. M gr.. O. II. Simonds.— V. 103, p. 410.
DULUTH,
D U LU TH -SU P E R IO R
M IN N.
T R A C T I O N . — Trol le y
ORGAN I/A 1 ION.— Incorporated in Connecticut in 1897. Ownsentlre
stock of the Duluth Street Ry., the Lakeside Street Ry. aud the Superior
Rapid Transit. The corporate existence of the Duluth Street Ry. Is malntalned but all of Its stock ($2,000,000 authorized. $1.800.000 outstanding)
If
^ by the Duluth-Superior Traction. This Tatter company has no
bonded debt. The Duluth Street Ry. was organized under Act of Minne
sota approved Nov. 17 1881 and possesses “ an exclusive franchise” which
IL L IN O IS N O R T H E R N U T IL IT IE S CO.
r
.7
™1
See decision with regard to franchises In Superior
Controlled by the Middle West Utilities C o., which seo In our “ Railway ln ria u0 . p. 1941
V .,8
1911. On Kept. 1 1917 tho Duluth St. Ry. acquired the 3J4& Industrial Section.”
J
tho Park Point
Co. or
105. n.
ORGANIZATION — Organized under the laws o f Illinois July 31 1916 mll0 bne of Duluth-Superior Traction between Duluth. Minn. V.and Su
180. I he
Bridge
Duluth, M inn.,
° / , tke I11Inois Northern Utilities Co. (incorp In April perior, vvis., is used by the railway but is a soparato corporation, and
T9 t? i ’.,T & Light Co. t &I ? Section for May 669). V. 103 p. 496
?o1
K
for $650,000
Railway rl ' (i (2U .ty^L,^ (see thiswSr C.°- (V - 97 • P- 1916). and ttfe Freeport has issued 1st Mtge. bondsp. 310. 504. and 2d Mtge. bonds for $300,000
—see bridge Items. V. 63.
Operates gas and electric properties in tho western half of the uorthern
Franchise Derision.— Ou May 23 1914 Judge Cant In the State District
ii.1 iS.'? at*joinlng the territory served by the Public Service Corp
o f Northorn Illinois^ Also operates street railways in Sterling and Dixon and _ ourt hauded down a decision favorable to the company In the suit brought
Duluth to cancel the frahchlse
Street
an Interurban lne between the two cities, total 1st track 16.71 miles, and by the city of17 1881 (V . 98, p. 1694).and thisgranted to the Duluth by the
Ry. on Nov.
decision was affirmed
9 miles of track In Freeport. Franchises in Freeport expire March 1 1923
Minnesota Supreme Court on Jan. 29 1915. V 100. p . 473
Has traffic arrangement for 50 years with the Rockford & Interurban Rv
b ares-— Oni Jan. 1 1918 reduced faros on Morgan Park lino from 10c. to 5c.
Co., allowing cars of that company to enter Freeport
In Sept. 1918 the Duluth Street Ry. applied to tho Duluth City Council
i k n
1 9 1 8 the 111. P. U. Comm. auth. the co. to increase gas rates
for an increase in street car fares. V. 107. p. 1192.
15 cents gross per 1,000 cu. ft.
Comm,
Its order
o iio
applied to tho Illinois P. U. Comm, for authority to issue of Decision.—On June 12 1916 the Wise. UR. establish rescinded 6 ticket*
19 2
the
to
a
of
f,150.000 1st and ref. M . 5% bonds and $112,000 7% collateral notes. for Nov. on its requiring linos.Duluth St. Ry. tho 5-cent. cash rate in force.
2oc.
Superior
In addition to
faro
V. 100, p. 2757
STOCK AN U BON DM— Date.
Interest. Outstanding
Maturity.
STOCK AND RONDS—
Date.
Interest.
Outstanding.
Maturity
Common, $3.oOO.OOO'$ 1 0 0 ) - - ____
Q-J
$3,500 000 Oct . '1 8 IV
Common stock ...........
Pref 4% cum,.$1,500,000(8100)___
Q-J
1,500 000 Oct '18'
$4,635,000 ..................
First pref stock 6 % cum ” " ! 7777
' q -f "
2.749.300 M ay '18. IA
D“ *“ *h S* B y M •*2.600.000 f 1900
5 g M&N
2,500.000 May 11930
Second preferred stock_____
gold ($1,000) .......... -C *tflln t. at Cent. Trust Co. N Y Trustee
250.000
First and ref M gold______t f 1912
5'g A-O
5 M-N
1 306 000 May 1 1930
4.455.000 Apr 1 1957 Dul St Ry gen M $2,500,000./ 1910
Underlying Bonds—
gold ($1000) sk fd -.c V n tU n t. at Central Tr. Co , N. VT Trustee.
De Kalb County Gas________ _____
5%
Stock.— lloth com. and pref. arelistod on N. Y Stock Exeh. V. 90 d. 848.
199.500
Sterling Gas & Electric______ _____
5%
B onds— The mtge. of 1900 covers all the mileage of the Duluth Street Ry.
249.500
Miscellaneous Issues_
_
the property of the Lakeside St. Ry. and of the Superior Rapid Transit
83.000
Freeport Ry Lt & p 1st mtge/ 1903
5j? M -N"
Tho gen. mure, bonds are
286,000
See text having first been conveyed to the Duluth St. Rv
$350,000g ($ 1 ,0 0 ())_
.-C*) American ’Pr. & Sav. Bk Chicago, trustee.
n™1, on ‘\
ny
dal'
10.) and Int. $305,000 are held in treasury and
Freep Ry & Lt mtge $2,000.-1 1910
5 M-N
1 7 5 5()0 Nov 1 1935
$136,000 have been canceled. Remaining bonds may bo issued for addi
000 g ($100 $500 A $ 1 .000) 1Int,. atC ont S Comm Tr M R Ch trus
t
tions, extensions, &c.. under conservative restrictions. They are guar
— h «ihTAEottF J
i< lt.lon
“ mounts reported outstanding. $365,000 common p. & 1.. by Duluth-Superior Trac. Co. Sinking fund of 2 A % per annum or
and $192,000 first preferred stock are In treasury
bonds out began May 1913. Exempt from personal tax in Minnesota.
__Bonds.— The 1st & ref. M . bonds o f 1912 are red at 105. Additlona V. 90, p. 1296; V. 91. p. 276; V. 92, p. 186; V. 104, p. 1044.
amounts may be Issued (a) $1,268,000 to refund underlying bonds, (5 ) In
DirtdCTas.—On the pref. stock 4% p. a. is being paid. On com ., 1st dlv.
exchange, par for par. for mortgago debt existing at Almo of acquisition of
l{!, 9- Same amount quar. to and Incl. July 1910; iu Oct.
properties acquired in tho future; (c) for expenditures made in acquiring 1910, 1 '4% . Same amount quar. to and incl. April 1913
In July 1913
^ p r o p e r t y to extent of 75% o f cost thereof. V. 94, p. 1383; V. 9 5 . reduced to 1% (V .9 6 ,p . 1772); same amount quar. to and Incl. Jan 1915.
April dlv. omitted (V. 100, p. 900); payments changed to semi annual
Int. on F R. L. & p. bonds is payable at offices of ( ’ out. & Coinm. Trust bas.s and a iliv ot 1% paid July 1915 (V. 100. p. I 137) None to Oct. 1
S Sav. *1 T i Chicago. Are subj. . to W 1 by lot at 105 & int.; $o4,uuu have 1917, when 1% was paid. Samo rate quarterly sin ce /
call uy
V Bank. tm . i1 nf
C
V,
, J’ o 0 1 T . .T Ann
nave
Y at moist int.; $64,000. .1 . r , i A.1 -—Tbe system embraces about 103.75 miles of track and Includes
~
been retired
Maturity of bonds fIs 0 F 1 /s\.y$5,000 ,1■ . \ r.. 1 ;.. each of
as follows:
due May 1 in
?
the years 1910 1912 and 1913 and $5,000 annually from 1915 to 1921 Incl
pears nHpr In IflOO____________________
,n P u’ uth and Superior. 152 passenger and 20 other cars.
romn
fi.o
n ..
» i___.
*
*6 ® „ron!a‘.nder ,ln 1932. Of the Freep.” R y‘ & L c ” bonds” $350.obo‘ are
REPORT.— For calendar years (1911 report in V. 106, p. 1681)ror,ATLor *1 “ ?- They are subject to call at 10214 on 30 days’ Calendar
®
Gross
Net (after Int. * Pref.Divs.
Common Balance.
nonce i^rom^9l5. Sinking fund began in 1915; may be used for impts., &c. ^ Y e a r s - Famines. Deprec.) Taxes.
(4 % ). Dividends. Surplus.
9 7 ......... -944.3.S7 $582,116 $296,319 $60,000 (2%)$70.000 $155,797
R
.reL.; 1 ^ % 0uar- Paid Nov. 1012 to and incl. M ay 1918. 19T
1G-,-g.-,-- 1-424.429 509.856 241.854 60,000 ..................... 208 001
*l,,nr Northern Utilities Co. and Sterling. Dixon &
ols
in u)i7 carried 32.196.521 rovenue passengers and 5,239,439 transfer
Electric R y■ for ., mos. ending Dec. 31 1916 (see report in V. 104, passengers, against 28.081,851 rovonue and 4.597.429 transfer passengers
F ’ j$231). (jross $536,157; net. $227,638; interest, rentals, &c., $123,054;
pref. divs , 841,240; surplus, $63,344.
’
LATEST EARNINGS.— For 7 months ending July 31:
O p i C E R S - P r e s ,. Samuel Insull; V .-P ., E D. Alexander; Sec. &
Seven M o s.— TIross.
Net.
other !nc.
Int., A c.
Surplus.
Treas. John [I. Gulick; Asst. Sec. & Asst. Treas. R W Waite: Aud
} 9 } 2 - - ...........*989.067
*195.810
$11,828
$103,903
$103,734
L. E . Jacobson.— V. 104. p. 2231: V. 106. p. 1036. 1132, 1582, 2757.
1917----- - _ 90-L1S0
277,002
13.270
102 ^14
i« «
OFFICERS -C h airm an of the Board. A. E. Ames; PresT. a /M . Robert
son; V .-P., Edmund Zacher; V.-P. & Gen. Mgr., Herbert Warren; Sec. &
Treas., S. L. Reichert.— V. 106, p. 499. 710. 1681, 1688.
PHILADELPHIA & EASTON ELECTRIC RY. CO.— A trolley road
nokff«ireA
S/,r?'*ai0 i i Ap,ru 5 1912 Judge Ryau In Bucks County Court spn
r«:eiversA V 94Cp
ri057 f C0,) a” d Go(lfrey Scbmldhelser of Phlla
. G « GAN1Z a T i 4 n .-O rganized In 1907 as successor to the Philadelphia nSTEUBENVHLLE EAST LIVERPOOL & BEAVER VALLEY TRAC
ORGANIZATION.— Incorp. in Ohio and Penna. on Nov. 1 1917 as a
truftee’sn
saley N T 3 T l9 0 7
I(a
Doylestown & liasto‘’
sold at
merger of the East Liverpool Trac. & Lt. Co., the Steiibonvillo & East
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. Liverpool Ky.
Lt\ Co. and tho Ohio Kiver Passenger Uy. For history
Common. $265,000 ($50)________
or merged companies see this Section for January 1918.
$258,800 .............
Pref, $365,000, 5% non-cum.
353,800 ...................
STOCK AND BONDS—- Date.
1st M . SI 000.000 ($1,000.7 1907
5'gM '-S
wxt.uuuaeDC 1 1927 Common, $2,000,000 ( 8 1 0 0 ) - .____ Interest. $ Outstanding. Maturity.
911,000 Sept l i«v
_________ 2 000 ()()0
anJ ®]9°), go'd— o’*! Int. at Girard Trust C o.. Phlla., Trustee
*
Pref 5% cum $2,600,000 ($ 1 0 0 ).......
................ 2 ooonno ...................
Stenk.— Preferred shares have no voting power.
Pi^ ,
S3.000.000. gold 1917
5 g M -N
l.OOOioOO N 8v'T'Io47
p T w 'V r 7 ^ a SU 0 can a n d ^ sInkGfd - lnr was4% to Sept ’ l l ; now 5% .
bTit
81.000)-- ---------------- ---------------- - - - - - c\Int. at Connn'l Trust Co.. Phlla., Tru
sto aJlN I^ G?67^For yea^
.
Dc c - 61 1917. gross. $118,052; net.
Bonds.— Redeemable at 105 and int. after Nov. 1 1022.
* 3 ?> 2a
’A 5G In 1916. gross, $108,658; net. $24,820.
R Y . D -G w n s Tr operates iiju.uy nun of track'betwcen Vanport. Pa.,
100.69 miles
i OA *
w
.7, arid
Operates 8 c a r s ^ 1** ^ miles of road between Doylestown and Easton
*
,,
...
.
...
and Steubenville, O., and in Stoubonvillo, riiust Liverpool and WellsvIUo,
ijiverpooi anu vvoiisvllie
YlV,and Chester. \V. Va. Also operates In intervening towns, and operate
OFFICERS. Pres., A. H. Slckler, Phlla.; V .-P., Amos Johnson; Sec
a through line between Steubenville and Beaver, Pa. 80 cars
470;8 ^■v^9Tlpel699)O1057tOWn: Treas“ H ’
Kush- Lancaster.— V. 85. p
: Pre?.v 9r' A. Smith. Chester, W. Va.; Gen. M gr., R . J
M cElravy, Chester, \ . \a.; Sec. & Treas., Geo. II. Faulk, East Liverpool
V
DIXON, ILL.
DOYLESTOWN, PA.
EAST LIVERPOOL, OHIO.
EASTON PA.
Advances were also inado in freight rates.
V. 107, p . iu u i- ^
STOCK AND BONGS—
uate.
Interest. Outstamuna. Maturity.
Stock, $500,000 ($50) ------*o2o'gnn T . V V i o M
First m°rtgage *400,000
j MM
pt0p
.V S ?
Ref * con's* mtge'.............
1912
5%
437,000 Jan 1 1942
Bmitfs.— A sink.'fund of 15% of net earns Is nowoper. on Northampton
T rac. 1st M . bonds, but bonds cannot bo called.
S u S i T S E t * S t t r V K ^ W S .O l*
IHS.712.
Vo»n onrllne Tnnn 30 19 8 gross. $221,443: net, attei taxes, $yi,D40.
ROAD .— Operates
miles of track from Easton to Tatamy. Nazareth,
Bangor and Portland, chiefly on private right-of-way. Standard gauge.
6 ^OPKICERs"!— Pres!,rf)avid
King; Treas Wm L. Doyle; Gen. M gr.,
W . O. Ifay.— V. 92. p. 726: V. 94, p. 1384, V. 102. p. 345.
O BO ANi'z v r K> N. — fncorr? to “ 9 V0 to°N eV Jersey and Is controlled
P U. Comm. auth. the co.
S T otfK fN ^ B O N °D S ^
t0
V *T
’ Inier\5.V ^Outstanding
Maturity.
1 st
CMJ 1 ’ 2(c?<*ed)(5 1 g°)(*Too'./ 1910
""5 % ’
'SSO'.OOO May
1950
lBSRno Sl nooi
gs fc*tf{B an kers Trust C o.. New York, Trustee.
c o ..
J“ '
t
o
1 1942
a
U)7tg-thereafter until maturity at 105 and int. Mtge. Is closed. Sink.
1 % a n n u X ofavgeam ou n t of all bonds out from 1915 to 1925; I K *
tn lo in and >«/ thereafter. Bonds are unconditionally guar., p & 1..
bv Northamr)ton Trac Co V. 92. P- 726). Int. payable in N. Y. City.
byThere a^edenosltod to secure the Northamp.-Eust. & Wash. 1st M . 5s
ther f o ll o w i n g liorun o f the Northampton Traction Co.: $44,000 1st M ..
« io o non 2 d M (entire Issue) and $81,500 gen. M . (entire Issue).
^ E A R N IN G S — Net earnings of the combined properties for the year
ending Doc 31 1917. after deducting Int. on the old bonds were *75.513.
r o a d -17 miles of track from Philltosburg. N. J., to Washington, N. .1.
- V 105,'p . 1802; V. 102, p.1127; V.H)7, P- 604.
EAST ST. LOUIS, ILL.
THE EAST ST. I OUIS & SUBURBAN CO.
, , ,. „
REORGANIZATION. .tO.— As per plan In ••Chronicle* of Dec. 20
1913' p 1822. this company was Incorporated Jan. 7 1914 In Delaware to
■urre'cd the old East St. Louts & Suburban Go. of N J .In Oct. *914 auth.
capital of the latter was reduced from $14,000,000 to $ 1^ 0 0 .0 0 0 , consisting
of $60,000 pref. stock and $940,000 com.
v
p
*
.
Owns all the outstanding capital stocks (with the exception of directors
«harS) and bonds as stated of the following companies. The amounts
pledged with the St. Louis Union Trust Co. as collateral for the East St.
Louis * Suburban Co. coll, trust bonds^areaIso shown.____________________
Owned.
Pledged.
Owned.
Pledged.
! t ‘ I'ouls^By c o ' C ° - $:M 9 :7 0 0 ’ i ’J o.V.SO M '.889.000
O
L & E SC L?EL RyVOo.
500.000
499.500
600.000
500.000
St. L. S Bellev. El. By. C o....................- - c
nh
75,,-000
760.000
East St. L. Lt. A Power C o ._ 1,100,000
733,000
- - - -----------Alton Gran. A S» L. Tr. C o . 3,189,000 ...............
274 000 -----------do
1 0 -ycar notos----- - - === ...............
1 0 0 .0 0 0
............. .
Alton Gas tr Electric <’ o -----599,000 -----------bn*dob ......... —
rni.—., mm nan les own and operate all electric railway llmw In East 8 t.
L outeandA lton ^ul Ynterurban lines to Belleville. Edwardsvllle. Collins
ville Caseyvllle O’ Fallon, Maryville, Lebanon, Brooklyn, Venice, Madi
son Granite City and Alton, and the only electric line across the Eads
Bddge connecting East St. Louis with St. Louis. Cars are operated over
tills bridge under a 50-year exclusive contract expiring in 10 .>
w. Through
nrr .nJcmcnt With Illinois Traction Co. the lnterurban cars from Alton are
" n “nto"theirterminal In St Louis. Also do entire electric lighting and
power business In East St. Louis and the ,®
le^.tr’c • cJin * steam heating
J^
l
8t
tho Alton gas and steam heatltw franchises are pwpetual. Granite Olty and
Madison franchises expire in 1925! Venice in 1920, Hroofciyn id 1921. The
lnterurban line to Alton, outside of city limits, Is ” £*^1y al ,
vnte right
of wav. County franchises covering remaining^suburti.in>lines expire from
1919 to 1948. Elec. It. & power franchise In East St. Louis oxpires 2007.
Wage Award by War Labor Board.— V.. 107, p. bJ5.
Fares.— In Do.;. 1917 the Alton Granitfc & S t.L o
^Pp,,«d to
tho I.-S. C. Comm, for permission to Increase Its rouml tr p faro from Alton
tn
T.onls from 90c. to $1. In Juno 1918 tho A. G. 3c St. 1 . Irac. Co.
j
was auth. to increase faros from 5 to 7 cents on its linnsmn .ramto City and
Alton. V. 100, p. 2561. Action on the co. s appllwtion for a ,-cent fere in
iirnoklvn anil Venice lias been suspended until ucu. oi u i o . A 7-cenfc
fare was Inaugurated on tne connecting line between these two points on
Anrr 9 1 9 1 8 V 107 t) 695 in Sent. 1 91 8 the A. G. C. & St. L. I rac. Co.
was auth. to charge 2 'A cents per mile
!)rH 9 9farcs,l?,
Tho c o .’s application had called for 3 cents perniile. V. 107. p. 1192.
In Juno 1918 the East St. 1,. & Sub. By- a
p
} 1 L 'l’ fU ’ Co|nm.
for auth. to charge a 7 -ecnt faro with a 1 -cent charge tor transrors an.l to
raise fares between St. Louis and East St. Louis from 10 to 12 cents. In
Sept. 1918 tho r.-H. C. Comm. auth. tho co. to increase feres from 10 cents
to 11 cents botwcon St. Louis and East St. Louis, 111*.
l -Pmnts in
Illinois. V. 107, p. 1192. In July 1918 was auth. J 1 10 L L P. IJ. Comm,
by
to charge 2 cents per milo for ticket fares and 3 cents Per mllo for cash faros.
V. 107, p. 401. Auth. to charge a 6 -cent faro In East St. Louis was granted
by tho Coram., effective Aug. 10 1918, ponding anothor hearing on tho
7 ^cont faro. V. 107, n. 095.
,, . .
Tl, „ T „
T
.
In May 1918 tno East St. Louis By. applied to the 111. P. U. Comm, for
auth. to issuo $210,300 additional stock and $148.000 1st cons. M bonds.
Default.— In Aug. 1918 holders of the A. G. & ” t. L. I iac. Co. 1st consol,
mtgo. bonds duo Aug. I 1914 were notified that tho co. was unable to moot
the Aug. I 1918 int. duo thereon because oi incrcascd o |>era1
,ing costs and
wore urged to withhold action until tho effects of faro increases recently
granted are known. V. 107, p. 603, 695.
.. .
STOCK AND BONDS—
Date. Interest.
Maturity.
Common. $10,000,000 ($100)...........
.............
...............
Preforrei/ $6 .80 * !000* ($100)^ " I I
0
-----------
6,000,000 Fob T*8 . H %
Convert 1"bonds " #3,000,6 6 6 f 1914
6 3-3
nn2 f09t Gr° A
Jan Am? 19
($1,000. $500 & $100)-c*tf( Penna. Co. for Ins. on L. & Gr. Ann.. Phlla..
v*
1 trustee.
Int at office of company.
Collateral trust mortgaf?e $8 ,- f 1902 6 g A-O
8.000.000April 1 1932
000.000 gold (#1,000) .c* tf tnterestat St. Louis Union 1 ^ ^ 0 ., Trustee.
E St L & Sub Ry Impt debsl
1916 5 J-D
65,000 See text
$111,000 ($1.000)----- cV tfJInt. at office of company In East St. Louis.
A G & St Louts Trac Oo 1st(1904
6 * E-A
2,500.000 Aug 1 1944
consol M . $3,000,000 gold Int. at Illinois State r r .« ,o . .E ast St. Louis.
nnO)
tf
Trustee, or at National City Rank. N. Y.
Alton By & "ilium first "mtge)
1895 6 g A-O
250.000 Oct. 11930
nno g ($1,000) -c*tff Int. at Bankers Tr. C o., N Y .trustee
Alton By Gas ft Electric C of
1899 5 glfAl ? t,
260^005 Oct. 1 1939
mtge $500,000 ($1.000)(Int. at Equitable Tr. C o., N. Y. trustee.
gold (closed) - ___ C*ntf
No sinking fund; bonds cannot bo called.
East St L U & Pow 1st M 1910 5 g J-D
1,092 000 June 1 1940
g. guar D * 1 ($1,000) c*tf Int. at Mercantile Tr. Co.. St. Louis. Trustee,
* “
( Chase Nat. Bk., N. Y ., and at co. s office.
Stock.— The 5% cum. pref. may be exchanged at any time for 50% of
cutu. pref. and 60% com. stock. The 6 % pref. takes precedence botn
as to dividends and assets over the 5% pref. and the common stock. V,
97, p. 1822; V. 98, p. 304, 155. Remaining $4,000,000 common stock re
served for conversion of 5 % pref. stock and convertible bonds.
Bonds.—Coll, trust bonds are redeemable on any int. day at 105 and
Int. on 4 weeks’ notice. See V. 76. p. 382. Tho convertible 5a were
convertible up to July 1 1918 Into an equal amount of 6 % cum. Dref.
stock and in addition 33 1-3% in common stock. The remaining $906,
000 may bo issued at any tlmo. Tho East St. Louis & Sub. B y. Im
provement debentures mature $10,000 each June and Dec. to Dec.
1921. $105,000 have been issued, of which $40,000 have been retired.
$500,000 of the Alton Granite & St. L. Trac. first consols are reserved
for prior liens. They are also a lien on property of Alton Gas & Elec. C o.,
which was owned by the Alton Granite & St. Louis Trac. C o., when the
mtge. was made. $566,000 of the bonds have been assumed by the Alton
Gas & Elec. Co. No sinking funds, but bonds are subject to call on any
Int. date at 110 and int. upon 90 days’ notice. The Alton By. St Ilium. 1st
M. 5s originally matured Oct. 1 1915, but were extended to October 1
1939. East St. Louis Light & Power bonds are guaranteed, princi
pal and Interest, by end., by East St. Louis & Sub. Co.; callable at 105 and
Int. on any Int. date on 30 days’ notice. Auth. issue unlimited, but addi
tional bonds are issuable only for 80% of the cost of add'ns and imp'ts, and
thon only when net earnings are at least lj^ times int. charge on bonds
out as well as those to be issued.
Dividends.—57, per annum was paid quarterly on old prer. from Its Issue
May 1 1906 up to and Including Feb. 1914. O 11 new pref. 1st dlv.— 1 H % —
was paid May 1914: Aug.. \%%\ N ov., \\i% . In 1915. Feb., I^ i% : in
May rate was reduced to
% (V. 100, p. 1437); same rate quarterly to and
incl. Feb. 1918. None since.
. „
_
on
EARNINGS of operating companies for 12 months ending Juno 30:
Year—
Gross
Net, aft Tax Int., A c.
Surplus.
1917-18 - .......................- $3,863,918 $1,053,018
$801,618
$251,400
3,362,412
1,256,253
<6 1 ,220
489,033
1916-17 _____________
ROAD, «&c.— Operates 190 miles or single-track, of which 4 miles
operated under lease. Has 182 passenger cars. 4 express cars. 829 freight
cars. 2 1 work cars and 3 snow sweepers, 2 electric an 1 2 steam locomotives.
Passengers carried In 1917, revenue, 40,818.319; transfer and others,
8.236 295; in 1916, revenue. 37,399,240; transfer and others, 6,836,885.
lias 2 power stations with 15,600 k. w. capacity. Has 95 miles of high-tension
transmission lines. Also has contracts for power with Mississippi River
Power Co. and Union Elec. Light & Power Co.
OFFICERS.— Pres., O. M . Clark; V .-P., II. L. Clark; Sec., G. L. Estabrook; Treas., T . W. Gregory; Asst. Sec. O. A Pearson Jr. Under the
management of E. W. Clark & Oo. M gt. Corp.. 1 hila. -V . 104, p. 2338,
V. 100, p. 199, 1461, 2750; V. 107. p- 401. 501. 603, 695. 1003, 1192.
6%
ORGANTZA t !O N .—?ncor p! Vo*Penn. Oct. 3 1902 as a consolidation of
the Easton & Nazareth Ry. and Easton Tatamy & Bangor Street Ity.
Owns practically all the stock (#1.250.000) of the Norttompton Easton &
Washington Trac. Co. (see that company below). Franchises perpetual.
In the latter part of 1915 absorbed the Bangor & Portland By. operating
;
811 miles betwoen the points named, and Issued $137,000 additional ref. S
t
cons, bonds to effect the merger. V. 102, p. <J45.
Hates.—-In Sept. 1918 increased local fares from 0 cents to 7 cents.
t0
41
ELECTRIC RAILWAYS
S e p t ., 1918.]
ELMIRA, N. Y.
ELMIRA WATER, LIGHT & RAILROAD CO.— Controlled by tho
United Gas & Elec. Co.— .See United Gas ft Elec. Corporation under N . Y .
ORGANIZATION.— Incorp. In New York May 26 1900 as a consolida
tion of all the water, lighting, power and street railway properties In Elmira.
Owns entire cap. stock of Rorlck’s Glen Park Assn, and majority of stock of
West Water St. UR. The latter co. operated under 999-yr. leases. In April
1913 lt was stated that all franchises have at least 72 years to run, while
some of them are perpetual. In Feb. 1910 was auth. to acquire all stock
o f Montour Falls Electric Light Co. In Sept. 1914 absorbed the West Side
R R ., all of whose stock was owned. V. 99. p. 815.
On Mar. 17 1914 the stockholders authorized the creation or $3,000,000
7 % cum. first pref. stock.
,
In 1915 sold the water supply system to the city of Elmira for $1,500.000.
the proceeds, together with the proceeds from the sale of $232,000 6 % cons.
M . bonds, being used to retire the $1,661,000 5% bonds due Jan. 1 1949,
which were Called for payment at 105 and int. on July 1 1915 V 100 p 1592.
In June 1916 the P. S. Comm. auth. (a) the absorption or the Elmira
Transmission Oo. and the Elmira & Seneca Lake Trac. Co all of whewe
stocks and bonds were owned, and (6 ) the Issuance oT $100,000 1st cons. M
5s at not less than 92 H and $125,009 1st pref. stock and $200,000 2d pref.
stock at par. to pay floating debt, for construction &c.
.
In 1917 the P. S. Comm. auth. the co. to issue $450,000 additional 1st
consol. M . 5s to provide for the construction of a gas plant.
o t n , ik a n n Bo n dw — Date. . u i « h » .
' o c r , v d i'.iim i s —
Interest. Outstanding ^ Maturity.
s
uu ,b
-■
Common $1,600,000 ($100).............
- - - - - - - * 1 -‘™0.000 Sept 17, 1
1.400.000 June 18 . 1
1st pf, $3,000,000 (7% cum )---------v n .vr
1 4 (in nnn .Tune T 8 , 1H
1,200.0011 June 18. IH
2d pref 5 % cum $ 1 ,2 0 0 .0 0 0 ---- -------3,965,000 Sept. 1 1958
1st con mortgage $5.000.00011908
« o -■
—
------------- ^
($1,000)
. - ___ g c * tfl Interest at New York Trust Co. Trustee.
Stock.— First pref. Is red. at option of co. at 115 and dlv.
Dividends.— On 1st prer.. I H% quarterly Is being paid. On 2d pref..
214% paiu seml-ann. from Septi. 1907 to in n feel. Mar. 1914. On Julyor
and ,
2 >4 % paid seini-ann. irora o e p . i » ui
,, 7 !
19141 1 Z-.J% was Iim u .tuiaiu s four months, and In O ct^19H dW. or fe-i 7
2 -3 %
paid, covering
a
a
---- - —At
was paid, the rate being 5% quar.o Instead p_fsem|;ann; OG 99, P- 6
paiu, L O .
U
/O ______
--- —V I ____
VI,.
i
__ common. 1st
Same rate quar. since to ____ 1918.
June
On_____________ dlv
Oct. 1910. " Tn '19 n T 1912 and 19i3, 4% . In 1914 Oct.. 2% . In 1915.
Jan., 2% : April, 1%: July, 1% . In June 1918 paid 2% for 6 mos. ending
Dec. 31 1915 (declared in Dec. 1915) and 2% for 6 mos end June 30 1916.
In Sept. 4916 paid 1%: Doc. 1916, 2% ; Sept. 1,917. 1%; none since.
ROAD. & c. —Comprises 48,214 m.of single track In Elmira and connecting
the suburban towns of Elmira Heights, Southport and Horseheads. from
Horseheads to W atkins (via M illport and M on tou r Falls), to Seneca Lake.
Has 90 passenger and 18 other cars. 75 to 110-lb. I and girder rails.
Owns R orick’s Glen Park and M aple A ve. D riving Park.
Gas Department.— Has 74.5 miles of natural gas mains.
Electric Dept. —Two 5.250 k.w. turbines and four 750 (1 .p .boilers. Old
power station has 4 . 2 5 0 k.w. capacity, with new 823 h.p boiler and three
800 k.w. step-up transformers; total capacity 16.400 k.w. Electric dept,
serves Elmira. Elmira llts., Southport. Wellsburg, Chemung, Big Flats,
Horseheads. Pine Valley, Millport, Montour tails and Odessa, sells Power
to .. . Corning Lt. & Pow. rs
tho
Corp. and the*Elmira Corning & Waverly By.1
.r/ .
\ /t I(after
T
ti lTPfl
ryllTnllLX for
Surplus
Fixed
Net ft fI/»v
EARNINGS.—
Gross
Charges. Renew.,&c.
Taxes).
Cal. Year—
Earnings.
$255,275
$ 2 3 4 ,5 9 2
$489,867
1917
$1,261,302
277,931
234.224
512.155
1 )16................................. 1,199,873
235.943
214.505
450.448
1915................................. 1,073.514
_
OFFICERS.— Pres. _ * _ ’ ________V.-P., Geo. Bullock, Sec. & Treas.
O A Kolstad: Asst. Sec , .1. A. McKenna; Asst. Treas.. H. J. Pritchard;
Gon. M gr., F. II. Hill; Aud., A. M . Lewis.— V. 106, p. 601; V. 107, p. 805.
EL PASO, TEXAS.
,
PL PASO ELECTRIC C O .— Incorporated In New Jersey and owns the
securities of tho El Paso Elec. Ry. C o.. El Paso & Juarez Trac. Co. and Rio
Grande Valiev Traction C o., which do the entire electric railway, electric
lighting and power business In El Paso. Tex., and Juarez. Mex., and °P^*
ate an electric r a i lw a y between El Paso and Ysleta. Franchises In El
Paso expire in 1951 and 1952. Railway franchise in Juarex expires In 1988.
l n t e r u r b a n almost entirely on private rlght-of way.
In 1909 Increased
p r o f, from $500,000 to $1,000,000. V. 90. p. 109. In Mar. 19141 Increased
a u t h o r iz e d amount o f com. stock from $2,000,000 to $3,000,000. V. 98.
u 839- $525,000 com. stock Is owned by Pub. Service Investment Co.
P STOCK AND BONDS—
Date.
Interest. Outstanding
Common. $3,000,000 ($100)
— <i-M
Pref 51 .oilO.OOO 6 % n-c ($100)
6 J-J
non
i 8iq T5
Oollat trust mtge $1,000,0001 1902
5 g J-J
1,000.000 Jan 11932
($1 0001 g o l d _____
. ctf lint, at State St. Trust Co . Boston, trustee.
3 -vcar gold notos $ 1 , 0 0 0 ,0 0 0 1 1917
6 g F-A
3 0 0 ,0 0 0 Aug 1 }920
'( ^ 1 0 0 , $ 5 0 0 , $1 , 0 0 0 ) - - C * & r | I u t . at State Street Trust C o., Boston, trust.
SLock.-— $ 2 1 6 ,3 0 0 of tho preferred stock is in treasury.
Bonds.— Collateral trust bonds cannot be called an, ,np slnkl% 0 i ° <
d
A:
The notos are callable as a whole at 100 and int. on any int. day on 30 days
notice. They wore Issued to provide for additions and *mPr° v®™?Pt:’ - ^
r
Dividends.— First dlv., 3 % , on pref. stock, was paid Jan. 12 1903. and
3% paid s -an. since. On com ., 1st dlv., 2 % . M ar. 1910; Sept., 2. In 1911
5% ; In 1912. Mar.. 3% ; S e p t . . 3 )4 %; In 1913. M ar.. 314%; In June 1913
began to pay quar. divs. anil paid 2% ; also Sept., 2 o, Dec., 2% . Mar. 1914
to Sopt. 1915,2 \i % quar.; Dec. 1915 to Sept. 1^18. 214% Quajter'y.
EARNINGS.— Of combined companies for 12 months ending June 30.
Year—
Gross.
NeUafter Tax). Interest.
Sink Fund Surplus
1917-18.......... $1,272,064
S139.396
#74.765
$2,380
^362,251
1916-17 - __ 1,210,517
442,065
59,25i
.LlOO
381,618
ROAD.—48.8 miles of e q u i v a l e n t single track; standard gauge. 84 cars.
Power station has capacity of 10.700 k.w
O F F IC E R S.—Pres., Marshall M. Phlnney; V.-P., Joseph Remlck,
Treas Henry B. Sawyer: See., Hollis T . Gleason; Gen. Mgrs., Stone &
Webster M gt. A s s n .-V . 105, p. 497; V. 106. p. 395. 2010.
ELECTRIC RAILWAYS
4 :2
ERIE, PA.
.
NORTHWESTERN ELECTRIC SERVICE CO. OF PENNSYLVANIA
ORGAN IZA r i o N .— Incorp, Feb. 29 1916 In Penn, for the purpose of
developing the light and power business ad jacont to the Northwestern Penn.
R y. C o.'s lines. Leases ror 99 years from 1916 the property of the Peoples
Incandescent Light Co.
Wholesale power Is furnished to the Northwestern Pennsylvania Ry. Co
for the operation of its entire lines; to a local company for distribution at
Albion. Springboro and Conneautville; to the Conneaut Lake-Exposition
Park Co. and to a local distributor for the Borough of Conneaut Lake and
territory on east side of lake. Has a contract for wholesale power service
to the Borough of Girard. Negotiations were pending in Sept 1918 for
the sale of power to the Cleveland A Erie Ry. C o., operating between Erie
and Conneaut, Ohio.
The directors of tht Service Co. are also directors of the Railway C o.,
thereby effecting joinl operation.
Capitalization S pi. 1 1918—
Authorized. Issued
Common stock..................................................... ........... $1,500,000
None
Second preferred stock, 6 % non-cumulatlve________
500.000
“
First preferred stock. 7% cumulative..........................
500.000 $206,500
An additional $100,000 of first pref. stock has been authorized by direc
tors to b< issued and sold, the proceeds to be used in payment for properties
purchased and extensions and betterments. $2 0 , 0 0 0 has been subscribed
and paid, for making $226,500 outstanding.
P R O PE R T Y .— 50 miles of 33.000 volt transmission line between Erie
and Harmonsburg. Pa., with a branch between Erie and Kearsarge, Pa.
Distribution lines in Saegertown, Venango, Cambridge Springs, Edinboro,
Mlddlcboro (McKean), Fairview, North Girard, Linesville and Harmons
burg, all in Erie and Crawford counties. Pa.
OFFICERS.— Pres., F. F. Curtze; V.-Pres. A Gen. M gr., Chas. M
Hatch; Treas., A. A . Culbertson; Sec., A. O. Chapin.— V. 105, p. 499.
N O R T H W E S T E R N PENNSYLVANIA RY.
Financing— Plan Fails.— The offer of the Northwestern Electric Service
C o., o f Penn., to exchange Its common stock at par for Railway common
stock at 30% of par, and to exchange Service Co. common stock for Railway
pref. stock, par for par. was withdrawn through failure of a majority of
Railway stockholders to accept same. The directors of the Service Co.
have been continued as directors of the Railway C o., thereby effecting Joint
operation. The offer of the Service Co. to exchange its 6 % non-cum. 2d
pref. stock at par for the Railway C o .’s 2d mtge. bonds was also rejected.
N o definite action had been taken to Sept. 1 1918 by tho 2d M . (Erie Div.)
bondholders as to cancellation of Interest now In default.
ORGAN IZATION.— Incorporated In Pennsylvania in March 1911 as
successor of the M eadville A Conneaut Lake Trac. C o .. V . 92. p. 187 (a hold
lng company), and Its controlled company, the Meadrille Trac. Co. (V. 92
D. 262), taking over the entire capital stock of the Meadville Conneaut Lake
A Linesville St. Ry. ($300,000); Crawford A Erie Ry. ($350,000), People's
incandescent Light Co. ($145,000) and Oak Park Co. ($20,000). fran
chises in Meadville explro in 1944. Interurban franchise perpetual. Affords
connection for Penn. R R . System with Meadville at Linesville.
In the latter part of 1912 purchased the Erie Traction Co. and the Mead
ville & Cambridge Springs Street Ry.
Franchises.— There are 23 franchises, o f which 16 are perpetual, 3 for 99
years, and the shortest does not expire until 1937.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
v v u ru iu u
------- -------- Common $ 1 ,0 0 0 ,0 0 0 ($50)........................................... $ 1 ,0 0 0 ,0 0 0 . . . .
Pref $600,000 ($50) 6 % non-c______
...................................... 500,000
.
First mortgage $1,250,0007 1911 5 g M-S
____
650,000 Mch 1 1941
gold ($ 1 .0 0 0 ) . , ........._c*tf _
Int. at Central Trust Co.. N. Y .. trustee.
People’s Incandescent Light 1900
5%.
150.000 Dec 1 1920
Co 1st mtge____ ______ tf Dela. Co. Tr. Safe Dep. & Title Ina.Co.,trus.
1st M (Erie Div) $1.500.000 t 1912 5 J-D
250,000 Sept 1 1947
2d M (Erie Div) $305,000. , t 1912 See text
305,000 Sept 1 1947
Erie Trac (Erie Div) $500,000 1907 5 g J-J
500,000 July 1 1929
g old -------------------------- c*tf Int. at Secur. Sav. A Tr. Co., Erie, Trustee.
Collat trust notes $165,000 1913
6 M-S
165.000 Mar 1 1919
($100. $500. $1,000)___ctf Int. at the Sec. Sav. & Tr Co.. Erie, Trus.
Equipment notes $60,000_
_
1917 6 F-A
50,000 See text
Erie TrustCo.. Erie, trustee.
Bonds.— Of the first mortgage of 1911, $150,000 are reserved to retire
prior liens, remaining bonds are for Improvements, extensions and acquisi
tions under certain restrictions. Tax-exempt in Pennsylvania. Subject
to call on any Interest date at 105 and Interest. Annual sinking fund
of 1% -of bonds out began N ov. 1 1914. Bonds retired to be kept alive.
V. 92. p. 1033. 1436. Of tho $1,500,000 1st M . Erie Div. bonds. $500,000
are reserved to retire the Erie Trac. bonds and $550,000 for extensions and
betterment* and $200,000 are In treasury. Sink fund. 1% annually, com
menced April 1917. Int. at Erie Trust C o., Erie, trustee. The 2d M .
bonds bear 2% int. the first year, advancing 1% yearly to 5% . Int. J.-D . at
Colonial Trust C o., Pittsburgh, trustee. The Erie Traction bonds have a
kinking fund of $20 for every $1,000 first mtge. bond, which began July 1
1917 (denom. $1,()00, $5,000 and $10,000). The collateral trust notes are
secured by deposit of $200,000 purchase-money mortgage bonds. They
originally matured on March 1 1918, but were extended for one year. The
equipment notes mature $10,000 yearly Aug. 1 1918 to 1923.
ROAD.— Operate* 10.3 miles or track In Meadville, 15.7 mile6 between
Meadville and Linesville, including a 2-inIIe extension to Conneaut Lake
and 40.2 miles between Meadville and Erie. Sidings, 3.1 miles. Tota
track, 69.4 miles. Gauge,4 rt. 8 >4 in. 70 and 85-lb. girder and T rail.
46 cars (passenger 28, freight and express, 9. work 2, 1 snow-plow. 2 snowsweepers) .
EARNINGS.— For years ending Dec. 31:
Calendar
Gross
Net
Dies. Interest. Ac, Surplus or
.Y * o r —
Earnings. Earnings, ttec'd.
Taxes,
Deficit.
*228,509 $39,498 $10,171 $126,793 def.$77,124
191J...................
1916------------ -------- 206,56 1
84,324
49,777
117.478 sur. 16,623
1015- --------------------- 269,027
74,980
108,926
def. 33,946
OFFICERS.— Pres., F. F. Curtze; V.-P. A Genj Mgr., Charles M .
Hatch; Sec., A. O. Chapin; Treas., A . A. Culbertson. General office.
Erie, Pa.— V. 98, p. 74, 237, 1246; V. 105, p. 499.
ESCANABA, MICH.
ESCANABA TRACTION CO.
ORGAN IZATION .— Reorganization In Aug. 1909 of Escanaba Electric
St. R y. and Escanaba Power Co. Controls the Escanaba Pulp & Paper
Co. Does electric light and power business In Escanaba. Gladstone and
Wells, Mich. Is allowed to carry freight.
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity.
8 lock $500.000.............................................j ...........
$500,000
1st A ref mtge $600,000 gold! 1909...........5 J-J
550.000
See text
($1,000)...................c*.cpt| In t. at First Sav. ft Trust ( o.. Milwaukee.
Second
*200 .° 0 0 gold/ 1909
5 g A-O
200.000 Jan. 1 1934
($100 A $1.000).c*Ar.cpt{M lchigan Trust C o., Grand Rapids, Trustee.
Red. at 103 and Interest... I Int. at First Trust C o., Milwaukee.
Bonds.— 1st & ref. bonds mature $10,000 annually from 1914 to 1933,
Incl., remainder in 1934. $50,000 have been retired. They are subject to
C l t a o 10:Va ,92!np. °?5G4? v S o £ % .
r e
^
°°"
RapI<l8'
EARNINGS.— For years ending .Dec. 31:
Grow
Net.
*Oth. Inc.
Interest.
Surplus
1917.................... $183,251
$98,631
$5,000
$38,097
$65,534
1916.................... 142,141
77.023
18.614
38.857
56.779
1 9 i§.” V
l ?
4-784,.
71,997
10-931
31.303
51,625
*Earnings from Escanaba Pulp & Paper Co.
R O A D .— Own* and operates street railway In Escanaba and an Inter
urban road to Gladstone, which was placed In operation In July 1910. Power
capacity, 7,900 h.p. A new dam on Escanaba River, providing
,400 additional h.p., was completed Jan. 1 1916.
OFFICERS.— Pres., J. E. Stack: V.-P., J. O. Kirkpatrick; Sec, & Gen.
M gr., P. L. Utley: Treas.. M .N , Smith, all of Escanaba.— V. 103, p. 578.
EUREKA, CAL,
HUMBOLDT TRANSIT CO.
P J £ £ ^ Iz.£ J ION -— Incorporated In California July 31 1903.
«t
nnB,
9
Date'
Interest. Outstanding. Maturity.
$500 001)
Stock $1,000 X00 ($100)......................................
1st mtge $1,000,000 ($ 1 .0 0 0 )7 -----5 K A-O
176.000 0 'c t " l'i9 3 4
...................... cfcr.ntf(U nion Trust Co. of San Fran.. Trustee.
Bonds are not subj. to call. A sk. fd .o f2 % of bond* out began Oct. 1910.
In addition to amount reported outstanding, $48,000 of bonds are pledged
collateral for a $20,000 note to the First National Bank of Eureka and a
$4,000 note to Wm. Butterworth.
(V ol .
107.
EARNINGS.— For years ending Dec. 31:
Cal. Year—
Gross.
Net (after Taxes). Deductions.
Deficit.
1 9 1 7 .. ............................ $81,643
$13,481
$15,912
$2,431
1916.. ......................... 78,181
3,870
14.513
10,643
ROA D.—Comprises 13 miles of track In city or Eureka »ft 60 lb. T rail*.
OFFICERS.— Pres., Wm. Butterworth; V .-P., Lloyd Baldwin; Sec. and
Treas., Horace R. Hudson; Mgr., J. W. Hale
EVANSVILLE, IND.
EVANSVILLE RAILWAYS CO.
ORGANIZATION.— Incorporated in Indiana In August 1907 to contro
th# Evansville A Eastern Electric R y.. the Evansville A Mt Vernon Elec
tric Ry and the Evansville Terminal Ry.
In April 1913 absorbed these
line# outright and acquired the capital stock of the Henderson Trac. Oo.
and the Owensboro City RR. V. 96. p. 1488.
On Aug. 26 1911 the Evansville Henderson A Owensboro Ry was Incorp.
In Indiana .corn stock auth. and out., $50.000— ail owned by Kvansv.
Rys.; pref.. $250 000 auth . $203,000 out.) to build a line from Evansville
to Henderbon and ultimately to Owensboro. New company has leased
6)4 mile# of Illinois Central tracks between Evamvllte amf Henderson and
has eiectrlFcd same. Line was placed In operation from Evansville to
Henderson July 28 1912
V 93. p. 730
In April 1913 Increased Its auth. common stock from $ 1 ,0 0 0 ,0 0 0 to $2.
000.000
V 90 p 1156.
R e o r g a n i z a t i o n P l a n s . — The company having been unable to pay the Int.
on the Evansville Term. 1st 5s due Jan. 1 1917 and on the Evansville A
Eastern Elec. Ry. 1st 5s and Evansville A M t. Vernon Elec. Ry. 1st 5s due
Apr. 1 1917. tho bondholders’ committee named below was formed and de
posit of the bonds called for. (See statement by committee In V. 104, p.
952 ) A plan of reorganization Is being prepared which, It Is expected, will
not only be favorable to the bondholders but will also bring new Interests
into the enterprise and provide sufficient funds to rehabilitate the property
and give it the additional rolling stock needed to develop its maximum earn
ing power. Depositing bondholders who do not approve the plan will be
given 2 weeks In which to withdraw on payment or not exceeding 2 % on
account or oxpenses of committee.
Joint Bondholders’ Committee.— James T . Walker, Chairman; William H.
McCurdy. Earl S. Gwln. D. Gregg M cKee, Albert F. Karges, Henry E.
Jowett, Marcus S. Sonntag, with 0 . H. Battin. Evansville, as Secretary.
Depositaries: Old State National Bank, Evansville, Ind ; Pittsburgh Trust
Co., Pittsburgh. Pa., or American-Southern National Bank. Louisville. Ky,
Fare Increase.— In Sept. 1918 was auth. by tho I.-S. O. Comm, to In
crease fares between Evansville, Ind. and Henderson Ky., and Intermedi
ate points not exceeding 10%. V. 107, p. 1192.
Interest on the notes which matured April 1 1918 is being paid ponding
reorganization.
8 TOCK AND BONDS—
Date.
Interest.
Maturity.
Outstanding
Common $2,000,000 ($100)...............................
$1 164.500
rrm aouu.nju. o V rum ___
o
Pref . $500,000. 6 % cum ..................
J-J
354.900
First and refunding mort 1913
____
__
See text.
5%
1953
gage $5.000.000............ t f, Pittsburgh Trust Oo.. Pittsburgh. Trustee.
Notes...................................... tf 1913
6%
62.900 April 1 1918
Evans A E Elec Ry l*t mart- 1906
5 g A-O
684,000 Apr 1 1938
gags, $750 000 gold ($500 Int. at American Trust A Sav. Co.. Evans
and $1,000 (cloeed M )c * tf
ville or Pittsburgh Trust C o.. Trustee.
Evans A Mt V Elec Ry 1st M 1905
5 g A-O
360.000 Oct 1 1925
$350,000 ..
gold ($1.000) c*tf Int. at Anier. Tr. A Sav C o .. Evansv.. Trus.
.
.. ......... ..,
K I3^T„ J * rni. . Uy l?*
TA
1908
5 J-J
295.000 Jan 1 1939
$300,000 gold ($1,000). tflln t. at Am. Tr. A Sav Co., Kvau#v., Trus.
gu p A I by Evan# Rys C o. I and Ills. Tr. A Sav Bank. Onlcago.
Stock and Bonds.— Pref. stock can be called at any time at par
Of the
$5,000,000 mtge bond* of 1913. $1,331,600 are set aside to retire underly
ing Issues. $2,868,600 for future requirement# and $800,000 were Immediately
available, and have been used as collateral for $500,000 Evansville Rys.
6 -year 6 % notes.
Of the 6 % notes, auth.. $298,000 had been cer
tified up to Sept. 1 1918 by authority of the Indiana Public Service Com
mission. of which $52,900 sold and outstanding. They are secured
by $800,000 first and refunding bonds, and all the common stock of
the Evansv Hend. A Owensboro R y., Owensb. City RR. and the Hender
son Traction Co. Of The Evansville A Eastern Electric Ry bonds. $51.000
are reserved for extensions A tmpts. at 85% of cost. Are subject to call.
In whole or In part, at 105 and Interest on any Interest day upon 90 days’
notice; $2,500 Is payable annually to a slaking fund from 1910 to 1920;
from 1921 to 1936 $5,000 per annum; $15,000 Bonds were held In sinking
fund J a n .1 1918 Sinkingfund of $10,500 per annum began Oct. 1 I910on
Evansv. A M t. Ver. Elec. Ry.. to be Invested In ten bonds ann at 105.
Subject to call at any Int. period at 110. Evansv. Term, bond# are rod. at
105 and Int on any Int day at 60 days’ notice. Sink fund began 1012.
EARNINGS.— For calendar year 1917, gross, $291,212; net, $92,510.
For fiscal year ending June 30 1917, gross (not lncl. Ileml. Trac. and
Owensboro City R R .), $274,236; net, $113,816. In 1915-16, gross,
$249,676; net, $110,353.
ROAD.—The Evansville A Eastern road consists of 31 mile* of track
from Newburgh (from which point It enters Evansville over tracks of tho
Evansville Terminal Ry., 10 miles) to Grandview, Including a 4-mtle branch
to Richland. The Evansville A Mt. Vernon road consists of 20 miles of
track from Evansville to Mt. Vernon. Evansv. Henderson A Owensboro
comprises 1014 mile# of track from Evansville to Henderson. Total length
of linos, 7114 mile*. First two roads do an Interchange car-load freight
service with steam road*.
OFFICERS - Pres., W. H. McCurdy; V .-P ., W. A. Koch; V.-P. A Gen.
M gr., W. A. Carson: Sec. A Treas., G. If. Battin.— V. 93. 730; V. 96. p.
1156,1488: V. 97, p. 594, 802; V. 104, p. 952; V. 105. p. 2272; V.107, p.1192.
(1) Henderson T ra ction .— Street railway.
Acquired by Evansville Rys. In April 1913. V. 96, d . 1488
ORGANIZATION.— Incorporated In Kentucky Feb 22 1907 as a suc
cessor to the Henderson City R y., sold at foreclosure on Fob. 18 1907.
Franchise extends to 1936
In July 1918 a controversy ovor franchise matters loti to tho shutting
o ff of the power which had been supplied to tho co. by the city of Hender
son. forcing the co. to discontinue operations. Reports state that the
tracks of the co. in Henderson will probably be torn up.
STOCK AND BONDS—
Date.
Interest. Outstanding
Maturity.
$149,800 ...................
Stock.$150,000 ($100)............ ...............................
First
m ortgage.
$150.0001 1907
5 g A-O
105,000 A p r. 15 1927
($1.000. $500. $100) gold tf I Int. at Ohio Bkg. A Trust Co.. Henderson,Tr
Bonds — $133,000 bonds Issued but $28,000 held In treasury. Kemalulng
$17,000 arc reserved for extensions and Improvements. Subject to call on
April 15 192? at 105 . No sinking fund.
EARNINGS.— For cal. year 1917, gross, $34,098; net. $10,099. For
fiscal year ending June 30 1917, gross, $31,900; not, $13,110. In 1915-16,
gross. $30,348: net, S10.981.
ROAD.— Operates 6 miles of street railway
V 90, p. 1363.
(2) Owensboro City Railroad.— Street railway.
Acquired by Evansville Rys. In April 1913. V 96. p. 1488. An exten
sion down tho Ohio River Is contemplated. V. 90, p 1364
ORGANIZATION.— Chartered In 1886. Franchise runs till 1936 and
gives exclusive right# to operate street railway In wild city
Arrangements were made In Nov. 1917 through which tho holders of the
$200,000 6 % Gen. Mtge. bonds will forego their Interest for tho next three
years, the $36,000 so saved to be used in improving the system.
STOCK AND BONDS—
Date. Interest
Outstanding
Maturity.
Common. $75,000 (par $50).....................................
$76.000f.p ...............
lit mtge.. $200,000. gold! 1902 6 K J-J
200,000 Jan. 11932
($1,000), cAr, not red t f ) Interest at Louisville Trust Co., Trustee.
General mortgage,$200,000tf( 1910 6 M N
200,000 May 1 1933
I Amor. Tr. A Sav Co.. Evansv. Ind. Trustee
EARNINGS.— For cal. year 1917, gross. $74,139; not, $20,032. For
Iscal year ending June 30 1917, gross, $67,620; not, $23,499. In 1916-17,
gross, $65,475; net, $23,419.
ROAD.— owns 12^ miles of street railway In Owensboro and suburbs;
56 and 70-lb rail; 30 motor cars, double West., 08 G. E. 800; 7 trailers,
26 10 ton and 6 2Vtnn coal cars. Power house 600 k. w. capacity. V. 90;
p . 1364: V. 105. p. 2273.
______
EVANSVILLE SUBURBAN & NEWBURGH RY.
ORGANIZATION.— Incorporated In Indiana In Dec. 1888. with a per
petual charter. Pass, business hauled by electricity and freight by steam.
Doew a car-lot freight, and express business. Has private right-of-way.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
.................
$307,400 . .
Stock, $500,000 ($ 1 0 0 1 .......................
1st mortgago, $500,000. gold f 1904
6 g J-J
477.000 July 11934
($500 and $1,000)____c*tf(Interest at Evansville Trust A Sav. Co.
I Trustee, or Nat. Bank of Commerce. N. Y
Bonds.— A sinking fund of $2,500 per annum commenced July 1 1910,
which will retire bonds at 105. All or any part of bonds redeemable
after 15 v-nrn at '05
$22,500 have been retired
V. 96, p '365.
EARNINGS.— For year 1917, gross, $194,290; not, after taxes, $65,265.
In 1916, gross, $139,962; net, aftor taxes, $38,661.
ROAD —Operates '5 miles of track from Evansville to Newburgh, with
a branch off the main line through Stevens Station and Chandler to Boon
vlllo- ha® *rm 5 miliw of side-track; total, 30 miles
>
70-lb. T rails.
OFFICERS.— Pres. & Gen. M gr., Gus Muhulhausen; V.-P. & Trcas.,
Chas. W. Cook; Sec., Jas. E. Cox.— V. 83, p. 271; V. 96, p. 1365.
FAIRMONT, W. VA.
M O N O N O A H E LA
43
ELECTRIC RAILWAYS
Sept ., 1918.]
VALLEY
T R A C T IO N
CO.
FITCHBURG, MASS.
FITCHBURQ & LEOMINSTER STREET R Y.
„
.
In April 1905 absorbed the Leominster Shirley & Ayer Street Ry. through
axchange 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 then petitioned Commission to
allow stock to be Issued at 100 (V. 85, p. 722) but In Sept. 1908 Commlsdon denied application. V. 87. p. 812.
J „
STOCK. BONDS, Ac —
Date.
Interest. Outstanding.
Maturity.
Stock $700,000 ($100)...................................- ..........
5450.000
Seetext.
Fitch & Leo con mtge. $350,-1 1901 4H F-A
300.000 Feb 1 1921
000 ($1,000)--............ . (Int. at Boston SafeDep. & Tr. C o., Trustee.
L S & A 1st mtge, $100,000/ 1905 5 a F-A
100.000 Feb 1 1921
gold ($1,000)__________ c*( Int. at Boston Safe Dop. & Tr C o., Trustee.
(Guar. p. A I. by Fitch. S Leom. 8 treet R y.
c
Dividends.— For many years up to and lncl. 1900-01. 8 % ; since, 6 % p. a.
ROAD.— Owns 4151 miles of track. Road extends to Leoralnste*i
Lunenburg, Shirley and Ayer. 31 closed passenger cars, 24 open passengtt
cars. 3 express cars and 5 snow plows.
EARNINGS.— For years ending Dec. 31:
,
Cal. Yr. Gross. Net. aft. Tax. Other Inc.
Int.
Dividends. Surplus.
1917 —$402,180
$87,436
$1,372
$59,468
$27,000
$2,340
1916 . . 346.573
95.566
1,805
57.767
27,000
12.604
OFFICERS.— Pres., Supt. and Purch. Agent, W. W. Sargent; V .-P ..
H I. Wallace; Clerk and Counsel, O. F. Baker; Treas., R. N. Wallis, all of
Fitchburg.— V. 87. p. 812; V. 103. p. 2238: V. 104, p. 663.
ORGANIZATION.— Organized In W. Va. on May 18 1912. Is a con
nolldatlon of Fairmont It Clarksburg Trac. C o., Fairmont A Northern
Trac. Co. and Clarksburg & Weston Elec. Ry. On Dec. 1 1915 acquired
the Fairmont Gas Co. V. 101, p. 1465.* On April 1 1917 absorbed by
merger tho Fairmont & Mannington Trac. C o., formerly controlled, that
co.'s $600,000 5% prcf. mortgage bonds dated Jan. 1 1906 (all owned by
Monongahela Co.) being canceled. On Juno 30 1917 acquired control of
the Kanawha Trac. & Elec. Co. (now known as tho Parkersburg-Marietta
Division) which seo under “ Parkersburg, W. V a.,“ through ownership of
approximately 96% of its stock. V. 105, p. 290. Owns all the stock of the
Fairmont By-Products Dorp., incorp. in W. Va. in M ay 1918 to build a
$5,500,000 coke oven plant and an industrial city to cost $750,000. V. 106,
T 2450
)
‘ Owns’ and operates a system of electric railways in W. Va. and Ohio
exceeding 180 miles of track; also electric lighting and gas plants and coal
FORT DODOE DES MOINES & SOUTHERN R R .— See “ Railroad
mining properties. Franchises in Fairmont are perpetual. In othe- Industrial” section.
_____ _
_
_______
cltles and towns extend for 50 years, the shortest expiring In 1952. Inter
urban lines on private right of way. Franchises over county roads and
bridges In Marlon and Harrison counties are perpetual.
Rate Increase.— Effective April 1 1918, was auth. by the W . Va. P. S.
THE FORT SCOTT OAS & ELECTRIC CO.
Receiver.— In April 1918 we were informed that this company was
Comm, to increase rates on tho intcrurban lines o f tho Fairmont-Clarksburg
the hands of a receiver. No later information.
Division an average of 20%.
ORGANIZATION.— Incorporated In Kansas in 1900, and Is successor
In Sept. 1918 issued $5,500,000 5-year 7% gen. mtge. bonds to retire
c
$2 829 000 1-year notes duo Feb. 1 1919 (called for payment on Oct. 7 to the Fort Scott Electric Light S Power C o., Citizens’ Electric Street R y..
1918 at par and int. at tho Fidelity Trust Co. of Baltimore), complcto tho Fort Scott Steam Heating Co. and Fort Scott Gas Go. Franchise expires
c
construction of the $2,000,000 power plant being erected at Rivervillo April 23 1922. Operated by the Light S Development Oo. of St. Louis, M o.
and for various other additions, extensions, &c. V. 107, p. 1004.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $350,000 ($100)
- ...........
$350,000 - - - - - - - -
150 000 April 1 1922
Common $12,000,000 ($25)...............
Q-J
$8,288,861 Oct’ 18. \\i 1st mortgage $250,000 goldl 1903......5 g A-O
($500), sinking fu n d .c*n tf/in t. at Chicago Title St Trust C o.. Trustee
Prof. 6 % cum. $4,000.000(525)-----6 Q-J
3.431.730 O c f l 8 ,lH
First A ref M. *15.000,000, gI 1912
5J D
4,2 >0.00(1 June 1 1942 Ref mtge $300,000 ($500) ntf ------ , 6 %
150.000
—
lin t, at Vandeventer Tr. Co.. 8 t. Louis. M o.
($500 A *1 0001 o»Ar* tf (Fidelity Tr. Go., Balt Trus
Hit In N Y
Bonds.— Of the 1st M . bonds, $50,000 have been retired. Sinking fund
Gen mtge $15,000,000 ($100,1 1918
7 g J-J
5,500,000 July 1 1923
$500 and $1,000) g ___ ctff/C entral Union Trust Co. of N. Y ., Trustee. began Apr. 1 1908 as follows: In 1908 and 1909. $3,500 per ann ; In 1910 and
FalrmA Clarksb 1st M. $2.-1 1903
6 g A-O
2.600.000 Oct 1 1938 1911. $4,000 per ann.; In 1912 and 1913. $4,500 per ann.; in 1914 and 1915.
500.000
g' SI 000) .c* n tf (Int. at Guaranty Trust Co N Y Trustee $6,000 per ann.: In 1916 and 1917. $7,000 per ann.: and from 1918 to 1921
Stock.— Pref. stock is convertible into common stock, share for share. In lncl , $1 0 ,0 0 0 per annum.
ROAD.—9 miles of track In Fort Scott.
Juno 1917 the auth. capital stock was increased from $9,500,000 com. and
OFFICERS.— Pres.. H. Wurdack. St. Louis; V.-P. St Treas., Horace W .
$3 000,000 pref. to $12,000,000 com. and $4,000,000 pref.; the par value
of tho shares was changed from $100 to $25 each, and 6 % prof, stock was Beck, St. Louis: Sec., Douglas Hudson, Fort Scott; M gr., A . L. Abington.
issued In placo of the 5% stock, the preferred shareholders being given tho Ft. S cott— V. 77, p. 1294.________
right to convert their stock into 6 % stock on the basis of 3 9-25 shares of
6 % stock (par $25) for each share of 5% stock (par $100).
V. 105. p. 290.
Application lias been made to list both tho com. and pref. stocks on tho
FORT SMITH LIOHT & TRACTION CO.
^
J
N. Y . Stock Exchange. Of tho amounts reported outstanding $10,700
Standard Gas S Elec. Co., a holding company under the control and
c
com. and $78,300 prof, stock is reserved to exchange for minority stock
management of H. M . Byllesby S C o., Chicago, 111., owns $949,900 com.,
c
outstanding of tho Kanawha Trac. A Elec. Co.
Bonds.— Of tho 1st (& ref.) bonds, $2,500,000 are reserved to retire prior $798,700 pref. stock, $150,000 1st M . bonds and $300,000 deb. 6 s of the
liens, $5,500,000 aro deposited under the gen. mtge. and $2,250,000 are
for add'n.s and ext’s under certain restrictions. Red. at 105 and Int. on ^ O R G A N IZ A T IO N .— Incorporated in Arkansas on April 13 1903 as a con
any int. day on or after Juno l 1922. Tax refund, in Pa. See V. 102, p. solidation of the Ft Smith-Van Buren Light & Transit Co. and the Ft. Smith
1346; V. 94, p. 1508. The gen. mtge. bonds are secured by pledge of Trac., Lt. & Pow. Co. Owns all physical property, contracts, rights and
approx. 99% of tho com. and 93% of tho prof, stock o f the Kanawha franchises of Van Buren Fuel A Light Co. (now dissolved). Does the entire
Traction & Electric Co. and $5,500,000 1st & ref. mtgo. bonds. As further electric light, gas and street railway business of the city, and the electric1 st & ref. bonds aro issued they also will be pledged under tho general light and gas business of Van Buren: operates an interurban lino between
mortgage and no additional Kanawha Trac. & Elec. 1st & ref. mtgo. bonds Ft. Smith and Van Buren. In 1917 contracted to supply electricity t»
may be Issued (except for refunding underlying bonds; unless pledged two public service corporations which supply towns, villages and coal
under tho general mortgage. $600,000 escrow bonds are issuable for tho mines to the south and east of Fort Smith. Street railway, gas and elect riopurpose of acquiring certain coal properties already contracted for. Tho light franchises in Ft. Smith expire in 1955. Gas and electric light /raw
remainder mav bo issued for 7 5 % of the cash cost of ext s, add ns and impts. Chises in Van Buren expire in 1957; street railway in 1962.
Rate Increase.— On Jan. 1 1918 increased rates for natural gas. Tho city
under certain conditions. A depletion charge of 20 cents per gross ton of
coal mined and 3 cents per 1 ,0 0 0 cu. ft. o f natural gas sold is to bo included protested and the matter is now in the courts.
In Nov. 1917 increased fares on South Fort Smith line from 5 to 10 cents.
in operating expenses, those amounts to bo paid into a sinking fund for tho
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity
purchase or redemption of gen. mtge. bonds. 'I ho co. also covenants to
$950,000 . . . . . . . . . . .
expend or reserve annually for dcprec. S maint. a sum equal to 20% of Common. $1,500,000 ($100).................... - - - - c
Q-J 15
1.410.000
8 ee tej»
railway gross earnings and 15% of grass earnings from the sale of electricity. Pref $6 ,0 0 0 ,0 0 0 ($100) 7% cum........
5 g M-S
2.531,000 Mar 11938
The $1,000 bonds may bo registered as to principal. Red. all or part on First mortgage $6.000,(W0 gf 1911
8 f ($500 and $1,000)__ c*( Int. at Illinois TruRt St Savings Bank, Chic..
4 weeks’ notice at 101 and int. Int. payable in New York or Baltimore.
Trustee, or at agency ot co lu N .Y. or Boa.
V. 107 p. 1004. Fairmont & Clarksburg 1st mtgo. bonds subject to call Demand note_ _____________(_____
_
8 M -N
300,000
------------ at 105 and int. Listed on Philadelphia Stock Exchange.
Stock and Bonds.— Pref. stock Is red. at any time after 3 years from issue
Dividends.— 5% was paid on the pref. stock to June 30 1917, when the
110
Issued
div. rate was changed to 6 % . See remarks above. Initial div. on common at % ofand accrued div. Remaining 1st M . bonds can only be certain ror
75
cost of
Improvements and extensions under
re
— 2 % —paid Jan. 1913; July 1913, I H % : Oct.. 1J4%- In 1914, Mar., strictions. See additions. 956. Subj. to call as a whole or in part on any
V.
114%: July, 114%. In 1915, none. In 1916, 4% . In Jan. 1917 paid Int day at 105 and 92. p. Cash sink. fd. of 1% yearly 1914 and 1915. 1H %
Int.
1% cash and an extra dividend of 6 % in conimon stock; April, 114%; yearly 1916 to 1918, 2% yearly 1919 to 1923 and such ratable amounts
July, 114% regular, and in Aug. an extra dividend of 114%; Oct., 114%. thereafter as by July 1 1935 will make total sk. fd. 40% of bonds certified
92, p. 956. $166,000 have been retired.
„
IUEA UN I NO S F o r year ending Dec. 31 (1917 roport in V. 106, p. 2444): V. Dividends.— Prel is cum. from Jan. 1 1912. 1st div. on pref.— . %—
1M
Year__
Gross.
Exp. A Taxes.
Net.
Fixed Chas. Surplus.
1917
...$3,046,769 $1,639,381 $1,407,388 $454,026 $953,362 paid April 16 1910; July. U i% : Oct..154% and H i % quar. to and Induc
ing April 1913; none since.
1910........... . . 1,582,786
724.822
857,964
302.861
555.103
EARNINGS.— For years ending Dec. 31:
T o ta l' surplus Dec. 31 1917 after deducting pref. divs., $159,120; com.
Calendar Year—
Gross.
Net, af. Taxes. Ini. Chgs. (Net) Deficit
divs., $444,005: 6 % stock div. on common stock paid Jan. 12 1917 and 1917
$508,670$154,266
$181,912
$27,648
$3,439 for adjustments, was $320,964.
1916.........
486.704
154,179
167,788
13,609
ROAD.— Operates (exclusive of Kanawha Traction S Electric C o.,
c
Latest Earnings.— 12 mos. end. Mar. 3l 1918:
which seo under "Parkersburg, W. Va. ) street railways in Fairmont, 1917-18...........
$591,107
$200,088
$185,872
$14,21$
W. Va., and In Clarksburg, W. Va., and an intcrurban line of 25 miles
ROAD.— Owns and operates 32 miles of track on 12 miles of streets la
connecting the two with various small branch linas; also linos from Fair Ft. Smith and suburbs. Standard gauge. 60-lb. and 80-lb. T rail. 41 cars.
mont to Falrvlew, 14 m.; Clarksburg to Bridgeport, 7.6m.; Fairmont to Owns a park of 110 acres. Also gas works tor distributing natural and arti
Mannington, 17 miles, and Clarksburg to Weston, 24 in.; total track in ficial gas (artificial gas plant is held in reserve) with 78 miles of mains, and
operation. 116 57 miles
An extension from O Neil to Wolf Summit, electric power and lighting plant— generating capacity. 4.600 horse-power
2>4 miles, was placed in operation on July 12 1917. Standard gauge. and polo line of about 164 miles.
.
...
„
80 and 85-lb. T rail. The c o .’s new steam power plant, which Is to bo
OFFICERS.— Pres., A. S. Huey; V .-P., H. M . Byllesby; Vlre-Pres. *
located about 4 miles north of Fairmont, W. Va.. will, it is estimated, cost M gr., D. O. Green; Sec., John Brizzolara; Treas., R. B. Ballard; Gen. Mgrt,
about $2,000,000 and will have an ultimato capacity of 50,000 k.w.; initial II. M . Byllesby A C o., Chicago.— V. 106, p. 1577, 2559.
Installation, 20,000 k.w. Present plant has 5,000 k.w. capacity. Initial
installation is expected to bo ready for operation early in 1919.
OFFICERS.— Chairman of Board. S. D . Camden, Pres., Jas. O. Watson;
V.-P., Smith Ifood; Sec. & Treas., Walton Miiler, Gen. M gr., E. B.
FT. WAYNE & NORTHERN INDIANA TRAC. CO.— A trolley road.
Moore; Aud., O. F. Lough.— V. 106, p. 2450; V. 107, p. 501, 1004, 1192.
Controlled by same Interests as the Ohio Electric Ry. and the Tetre
Haute Indianapolis A Eastern.
„
,
..
ORGANIZATION.— Incorp. In Indiana on Feb. 13 1911 to take over the
Ft. Wayne A Wabash Valley Trac. Co. per plan In V. 92. p. 394. 594.
NORTHERN STATES POWER CO.— FARQO-M OORHEAD D I- The Ft. Wayne A Wabash Valley Traction Co. had previously acquired
through consolidation or purchase the following companies
VISION (STREET RA ILW A Y).
Ft. Wayne Marlon A Bluffton Tr.Co. Lafayette Street Ry.
ORGAN IZATION .— Fargo S Moorhead Street Ry. was Incorporated Ft. Wayne El. Lt. & Power Co
c
Logansport Railway Co.
July 19 1902 in North Dakota. In April 1916 the Northern States Power Ft. Wayne A Southw. Trac. Co
Logans. Rocb. S Nor. Trac. Co.
c
Co. acquired all of the physical property. See V. 102. p. 1441, 1543. In Ft. Wayne Traction Co.
Wabash-Logansport Traction Co.
Juno 1912 new 25-year franchises were granted in Fargo, Moorhead and Lafayette A Logansport Trac. Co
Wabash River Traction Co
Dll worth. Operates In Fargo, N. D ., and Moorhead, M inn., and an
Also controls Fort Wayne Power C o., Carroll Electric Light Co. aad
lnteruj-ban to Dilworth, Minn., a total of 15 584 miles. Standard gauge. Wabash Valley Utility Co. Owns a one-fourth interest In the United
70-Ib. T rail. General Managers, II. M . Byllesby S C o., Chicago, 111. Tractions Coal Co. which owns and loases valuable coal lands to Insure the
c
V. 105, p. 2099; V. 107, p. 604.
company an adequate supply o f coal (see Shirley Realty Co. of Indiana In
V. 104. p. 1805).
m
„ , W
1
. .
Furnishes electric light In Ft. Wayne, Roanoke and Delphi; municipa
franchises extend to 1935 and 1998, except In Ft. Wayne, which tor more
FISH KILL ELECTRIC RAILW AY CO ,— A trolley road.
than M of street railway are perpetual, the balance being tor outlying exten
Leases the Cltlzons’ St. R R ., L & P ., at a rental of $8,255 per annum.
sions and extending to 1937. Lighting franchises In Ft. W extends to 1935.
Fare Increase.— On July 25 1918 was auth. by tho N. Y. P. S. Comm, to
Default— Reorganization Proposed.— Int. due Sept. 1 1917on $1,059,000
Increaso fares from 5 to 6 cents. V. 107, p. 501.
1st and ref. 5% bonds and $1,164,000 6 % collateral notes or the Ft. Wayne
A Nor. Ind. Trac. C o., and on the $6,966,000 Ft. Wayne A Wabash Valley
S T O C K AND BONDS—
Date. Interest. Outstanding. Maturity.
5s was defaulted. In the opinion or the management It will be necessary to
Stock $50 0 0 0 ___ _
______ _____
_______
$50,000 _________
First mortgage. $50.000......... 1895 6 J-J
50 000
July 1925 reorganize the parent co.. and to reduce the bonded debt of it and some of
c
EARNINGS.— For year ondlng Dec. 31 1910, gross, $56,130; not, after its constituent cos., particularly tho Ft. Wayne S Wab. Val. Trac. Co. and
taxes $13,621; other incomo, $32; Int., rentals, A c., $12,000; sur., $1,653. Lafayette A Logansport Trac. Co. See V. 105, p. 1103.
Foreclosure Suit.— On Dec. 5 1 9 1 7 the Central Tr. Co., as trustee, brought
ROAD —Owns 4 V and leases 3 miles. Total, 7 (4 miles
i
OFFICERS.— Pres.. John T . Smith: V.-P . W I Conklin; Sec.. W. H foreclosure suit against the co. because of default on Sept. 1 1917 Int. on
1st A ref. 5s and 6 % coll, notes.
Southard; Troas., G. W. Patterson.— V .107, p. 501.
FORT DODGE, IOWA.
FORT SCOTT, KAN.
.
FORT SMITH, ARK.
FORT WAYNE, IND.
FARGO, NORTH DAKOTA.
FISHKILL-ON-THE-HUDSON, N. Y.
44
ELECTRIC RAILWAYS
Committee for Notes.— Geo. W . Davison, James O. Brady, Henry Sander
son; Sec., Cnas. E. Sigler, 54 Wall St., N. Y .; depositary, Central Trust
Co. of Now York.
Committee for Ft. Wayne & Nor. Indiana Trac. lsf A Ref. 5s, Pref. and
Common Stockholders and Holders of Dividend Certificates.— Wm. A. Tucker.
Tkos. E. Murray, J. Levering Jones, Jay Cooko, Randal Morgan, Henry
Sanderson. Depository. Central Trust Co., New York.
Committee for Ft. Wayne A Wab. Val. Trac. 5s.— P. M . Chandler, Chair
man: E. W . Clark, O. S. Gray. A. A. Jackson, John H. Mason, C. S. W.
Packard, R . Lancaster Williams; Sec., J. K . Trimble, Franklin Bank Bldg.,
Phila. Depositories, Commercial Trust Co., Phila., and Fidelity Title &
Trust Co., Pittsburgh, Pa. V. 105, p. 1419.
Committee for Lafayette A Logansport lsf Mlge. 5s.— Rowland Oomly,
Chairman; Col. Sheldon Potter, Wm. B. Whelen and Edw. V. Kane,
all of Philadelphia. Depositary: The Logan Trust Co., Phila. V. 105.
p. 1522; V. 106, p. 296.
. Pare Increases.— On Jan. 15 1918 was auth. by the I.-S. O. Comm, to
increase its passenger fares 15%. On Mar. 4 1918 was auth. by the Ind.
1 . S. Comm, to put into effect, for the duration of the war, a straight
o-cont faro. In Sept. 1918 applied to the Indiana P. S. Comm, for auth.
to chargo a straight 6 -cent faro in Fort Wayne and 3 cents per mile on the
interurban lines. V. 107, p. 1192.
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity.
Common, 54.000,000 ($ 1 0 0 ) .............
____ _____ 54.000.000 ....... ...........
Pref.6% (cum),$4,000,000(5100) . . .
Q-M
2.500.000
See tex;
.
Dividend scrip______
...............abt.75,000
...............
1 st A ref mtge $15,000,000. t f l o l l
5 M -8
1,059.000 Mar 11931
Coll notes 51,200,000 ($ !,-( 1914
6 g M43
1,164,000 Mar 2 1919
000) red at 100 & int on 30|Central Trust C o., New York, Trustee
days notice___________ c* I
Ft.\V^ V
YJ£al TF,
con* M l 1904
5 g M-S
6,906,000 Mar 11934
? <*1.000) _ c*tf/In t. at Commercial Tr. C o., Phila., trustee
Ft W & W Vail Tr car trusts—
5 F-A
10,000
See texi
(*l .000 each), t f -----1 t W & N Ind Tr—
Series “ A ” (51,000)......................
5 F-A
22.000
See text
Series " B ” ($1,000 e a c h )_ tf____
5 M-S
9.000
See text
Wabash Rlv Tr Co 1st mtge 1901 5 g F-A
275,000 Aug 1 1931
5350.000 ($1,000) g ,.* n t f Int. at N . Haven Tr. C o., N . Haven, trustee
Ft Wayne Tr mtge 51.600. 1899 4 g A-O
29.000 Oct 1 1929
0 0 0 geld (51.000)------ c*tf
Int. at Guard. Tr. C o., Cleveland. Trustee
Lafayette Street Ry l 9t mtge 1893
544 J-D
225.000 June 1 1923
(51.000 each) 5225,000c* tf Int. at Real Estate Tr. C o.. I’ blla.. Trustee
Laf & Log Tr 1st M $1,000,- 1906
5 g J-D
849.000 June 1 1930
„ 0 0 0 g ($ 1 ,0 0 0 ) g u . & lc * t f iln t.atO u a r. T r .& S .D .C o ., Phila., Trustee
p
Ft W M & B 1st M 5400.000 1905
5400.000/
5 g J-J
400.000 July 1 1935
gold (51.000) guar p & I. tf Int. at Guar. Tr. 3c S. D . Co .Phila., trustee
Ft W Power Co mtge_____tf . 1907
5 M -N
57.700 Nov 1 1937
„ ..
.
.
lin t, at Guar. Tr. 8 S. D. Co .Phila.. trustee
c
Bridge bonds..........................................................
32,000
............. .
Paving bonds_____________________
_______
149,732
Stock.—Bom stocks are listed on Phila. Stock Exch. ’ v 94. p7 826."
Bonds.—Of tho 1st & ref. mtge., $1,941,000 aro pledged under the
collateral notes o f 1914; $8,807,000 are reserved to retire underlying
bonds and remainder for acquisitions, extensions and additions. Sub
ject to call as a wholo on any Interest day at 105 and int In addition
to bonds noted above there aro $3,500 lost bonds of the Loganspt Ry. out
standing, due Sept. 1 1929. For liens or various issues see V. 105. p. 1103
The 1 1 . W. & W . V. consols of 1904 are not subject to call beforo maturity
Thoy are listed on Phila. Stock Exch. The Wab. Riv. Trac. Co. 5s of 1901
are subject to call at any time at 105 & Int. Lafayette & Logansport 1st
M . is closed; no moro bonds can be issued.
„ The Lafayette St. Ry. 1st M . 6 s were extended for 10 years to June 1
1923 at 544% Interest.
Ft. W ay n e* Wab. VaL car trusts are guar., p. 3c 1., by end. by Ft. Wayne
* Nor. Ind. Trac. Co. Thoy mature $5,000 s.-a. to Sept, t 1919. Trustee
la Fidelity Tr. C o., Phila. The Penn. Co. for Ins. on Lives 3c Granting
Annuities Is trustee of Ft. W . 3c N . I. Trac. car trusts. Ser. “ A " mature
52.000 each Feb. and $3,000 each Aug. to Feb. 1923. Ser. " B " mature
$1,000 s.-a. to Mar. 15 1923.
•
The notes of 1914 are secured by $1,941,000 1st S ref. 6 % bonds. An
c
additional $500,000 o f notes may be Issued, but only with the approval
of the Commission and under tho terms o f the mortgage securing the
bonds pledged as collateral. V. 98, p. 1166.
IKvitlends.— On pref., 144% quar., from organization to Sept. 1912. In
May 1913 a scrip dlv. of 3% was paid, covering divs. payable Dec. 1912
and Mar. 1913. See statement in V. 96, p. 1422. None since.
* J{9 A D .— Operates 209 m. main track connecting Ft Wayne, Hunting
ton Wabash, Peru, Logansport, Delphi, Lafayette and Bhiffton; also local
Unes In Ft. Wayne, Wabash, Peru, Logansport and Lafayette. Total track,
2 2 0 miles.
At Logfiusporfc, Peru, Wabash and Bhiffton connection is
ma, le for Indianapolis over tracks of Indiana Union Traction Co. In Mav
19u* began through service between Ft. Wayne and Indianapolis over
j
traces of Union Traction Oo. o f Ind. See V. 82, p. 1101. Kalla, 60. 70.
72 'll and 90-lb. Owns 2 power houses and 4 pleasure parks. Owns
180 pass. cars and 60 other cars.
R E PO RT,— For calendar years ending Dec. 31:
Calendar
Cross
Expenses
Net
Inter- Balance,
1 ear—
Revenues,
and Taxes. Revenues.
cst.
Surplus
1917........................ $2,020,349 $1,488,987 $539,362 $583,019def$43657
1916.............- ......... 1,777,686
1,161,786
615,900
684,274
31,620
191 > ---------------- 1,070,693
__________ 1.654.605
583,912
___ ____ _
»
582,555
1.357
OFFICERS.—Chairman of Board, J. Levering Jones; Pres.. Robert M .
Feustel; V .-P ., Treas. & Sec., H. E. Vordormark, Ft. Wayne; Asst. Sec.,
H. J. Alker. I’ hlla.— V. 104. p. 1800: V. 105. p. 909, 1103. 1419. 1622,
1998, 2272; V. 106, p. 295, 1126: V. 197. p. 1192.
FORT WORTH, TEXAS.
NORTHERN TEXAS ELECTRIC CO.— A holding company.
Of the common stock. $500,000 Is owned by Pub. Service Invest. Oo.
ORGAN IZATION .— Incorporated In Maine Nov. 16 1905 and owns the
entire stock and participating bonds o f the Northern Toxas Traction Co.,
which does all the electric-railway business in Fort Worth and operates an
Interurban line between that city and Dallas, 35 miles, and the capital
stock or the rarraut County Traction Co. (name changed from Ft. Worth
Southern Traction Co. In 1914), which operates a line between Fort Worth
and Cleburne, Tex., 31 miles. It Is proposed tqexten d the line from
Cleburne to Denton, the rights or the Fort Worth-Denton Interurban Co.
havlngbeon acquired. V. 99, p. 121, 122. Also owns tho capital stock of
the Arlington Light 3c Power Co., which does the electric light and power.
Ice and water business in Arlington, Tex.
Enters Dallas over Its own
tracks. See V. 89. p. 411. Has leased for 20 years from Doc. 17 1915 the
terminal facilities of the Dallas Interurban Terminal Assn, which see under
Dallas Railway Co. on a preceding pago. In 1917 leased (with the right
to purchase for $2,000,000) the Oak Cliff lino to the Dallas Ry. <it an annual
rental of $115 000 for first 3 years, $120,000 for fourth year, $125,000 for
fifth year, $135,000 for sixth year and $150,000 thereafter.
Franchises: of Northern Texas Trac. Co. In Fort Worm expire In 1973; in
Dallas in 1937; others about 1950; has private right-of-way outsido of
Citlos. Tarrant County Traction Company in Fort Worth and Cloburne
expire In 1936; between these cities has private right-of-way except In
towns &c., In which cases Its rights expire in 1901. V. 92, p. 1243. Road
was completed In Aug. 1912 and began operation In Sept. 1912. Franchise
In Arlington expires in 1949.
On Feb. 24 1913 Increased auth. pref. stock from $4,500,000 to 55,000,
000 and the com. from $2,500,000 to $5,000,000 (V. 96, p. 488, 654), and
holders o f both classes of stock were given the right to subscribe for $650,000
new common stock at par. V. 96. p. 790.
swuu.uuu
In Sept. 1917 received franchises for tho construction of additional trackasp, and terminal facilities to handle tho heavy traffic incident to the army
activities o f Camp Bowio. near Fort Worth; work was bogun in N ov. 1917.
An expenditure of $100,000, it is stated. Is Involved.
In Nov. 1917 the co. announced an Increase in passonger rates from about
^44 cents to about
cents per mile to cover Federal taxes and Increased
costs of operation.
STOCK AND BONDS— Date.
Interest. Outstanding.LastDiv.Ac.
Q-M
$3,150,000 Sept. *18 2%
Common $5,000,000 ($100)............
f t e f 6 % n-c 55,000 0 0 0 ($10° ) -----M &S
4,000,000 S e p t.-18,3%
Coll trust M $10,006,000 gold! 1910 5 g J-J
3,551,000 Jan
1 i940
sink f£nd ( ? 66 fexM c**r*t|lInt. at Commonwealth Tr. Co.. Bost., Trust.
NoTex True 1st M $2,600,000 [ 1903 5 g J-J
2,500,006 Jan 1 1933
(51,000) gold— no sinking! Int. at Citizens’ Sav. & Tr. C o., Clev., Trus.
&nd ------------------------ c * tf i or at Chase Nat. Bank, New York.
Stock.— 'The pref. stock Is redeemable at 110. V. 94. p. 1449. Both
classes o f stock are listed on the Boston Stock Exchange.
[V ol . 107.
Bonds.— Of the coll, trust bonds, $2,500,000 are reserved to retire North
Texas Traction 1st M . bonds; $209,000 have been retired. Coupon
nA^ r0 In denom. of $1,000; registered bonds, $1,000. $5,000 and
$ 1 0 ,0 0 0 . Callable as a wholo or In part, for sink. fd. orily, at 105 and int. on
any int. date. Sinking fund of 1% of bonds out began Nov. I 1911. Bonds
are secured by deposit of all the stock of the North. Texas Trac. Co. V. 90,
p. 373, 1239. The Northern Toxas Traction Oo. bonds are subject to call
as a whole on any Interest day at 105 and Interest.
D IV ID E N D S.— First dlv. on pref, ( 1 %) paid March 1 1900 and 2%
Sept. 1 1900; since, 6 % per annum. First dividend on common stock,
2% , paid Sept. 1 1909; In 1910, 5H%\ in 1911 and 1912. 6 %; In 1913
6 H % ; in 1914. 7% ; in 1915. 454%; In 1916 and 1917, 4% .
In 1918,
Mar., 1% ; June, 1%; Sept., 2% .
EARNINGS.— Of combined companies for 12 months ending Juno 30:
° r,)ss
Net (aft.Tax.) Olh.Inc. Interest. Sink.Fds. Surplus.
} 9 }7- 1 8 -$3,078,§ 18 $1,331,553 $86,250 $307,987 $35,643$1,074,172
--------313,208
36,040
511,728
1916- 17 - 2,088,393
860,976
R OAD.— Substd. cos. operate 162.7 miles or track, standard gauge; 245
passenger and 16 other cars. In July 1916 conmloted an 1.800 ft. viaduct
over the steam roads entering Union Depot In Dallas. Power station has
capacity of 10,800 k. w.; also purchases power from tho Dallas Electric
Light S Power Co.
c
OFFICERS.— Pres., Marshall M . Phinney; Sec., Hollis T . Gleason,
Treas.. Henry B. Sawyer: Gen. Mgrs., Stone & Webster Mgt. Assn., Bos
ton.— V. 102, p. 154; V. 104, p. 1899; V. 100, p. 396, 818, 2346.
FOSTORIA, OHIO.
FOSTORIA & FREMONT RAILW AY CO.
ORGANIZATION.— Incorp. In Ohio In 1909. Ownership Is iargoly
represented by interests identified with the Lake Shore Electric Ry. Co.
and Western Ohio Ry. Co. Besides passonger business, doas a freight and
express business and handles coal for use by Ohio State Power Co. at
Fremont.
Fares.— In July 1918 was auth. by tho Ohio P. S. Comm, to increase
passenger fares to 3-cents per mile. V. 107,, p. 401. Compare V. 107.
p. 82.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Com stock, $200,000 ( $ 1 0 0 ) .............................
$200,000 ...................
Pref stock $200,000 ($100)...................................
200.000
.............
First mtge $250,000 (51,000)1 1910
5 A-O
200,000 Oct l 1930
gold-----------------------------c*/Int. at Cleveland (O.) Trust C o., trustee.
Bonds.— Normal Federal Income tax paid at source.
Dividends.— Paid a dividend or 3% on pref. stock in Jan. 1913;'subsoquent
surplus earnings have gone Into the properties.
EARNINGS.— For years ending June 30:
12 Months—
Gross. Net, after Taxes. Int.
Depr.Res’ve. Surplus
$32,927
$8,370
$1,221
$23,336
1917-18-.................... $75,859
1916-17.-................ 68,289
15,983
........................ __
-.J ...
1915-16------------------- 58,823
21,105
.........
............................
ROAD, &C.— 21.38 miles of electric Interurban railway on private rightof-way. connecting Fostorla and Fremont. Forms the connecting link
between the Western Ohio Ry., Toledo Fostorla & Findlay Ry. and Lake
8 hore Electric Ry., all of which use tho line under traffic contracts.
OFFICERS.— Pres., F. D. Carpenter, Lima, Ohio.— V. 107, p. 82. 40.
FOXBORO, MASS.
NORFOLK fit RRISTOL STREET R Y.
ORGANIZATION.— Incorporated In Massachusetts In November 1901.
Fare Increases.— On Aug. 19 1915 the Mass. P. S. Comm, granted per
mission to Increase the Tares from 5 to 0 cents or 18 tickers for $1 SeeV. 101, p. 694; V. 103, p. 1031. In June 1918 tho co. notified tho Mass.
P. S. Comm, of a fare Increase from 6 to 7c. with 15 tickets for $1. effective
Juno 29 1918.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock, $200,000 ($100).........................................
$200,000 ...................
1st mtge. $200,000 ($1.000),l 1908
5 g J-J
200.000 July t 1928
g sink fd
Red at 105-- IInt. at American Trust Co Boston, Trustee
EARNINGS.— For 12 mos. end. June 30 1918, gross, $97,365; not, dof.,
$5,567; bond Int. & sink, fund, $12,000; loss for year, $17,567. In 1916-17,
gross, $101,511; not, $9,382.
ROAD.— Owns 21.739 miles or track between Norwood. Mansfield and
Wrentham: 21 passenger cars, 3 snow plows and 2 service cars.
OFFICERS.— Pres., Jas. E. Ryder; Treas., E. C. Hildreth: Gen. M gr.,
M . A. Cavanaugh.— V. 87, p. 936, 1238; V. 101, p. 694; V. 106, p. 2450.
FRESNO, CAL.
SAN JOAQUIN LIQHT & POWER CORE
ORGANIZATION.— Incorporated in California on July 19,1910 as a consoll lucion of the San Joaquin Light & Power C o,, the Power Trauslt S Light
c
Co. (Bakersfield) and the Merced Falls Gas S Electric Co. Absorbed the
c
Selma Water Works, Madera Water Works, Madera Lt. & Pow. C o., Lommore Lt. & Power Corp. and Bakersfield Gas & Elec. Lt. Co. control!
through stock ownership tho Tule River C o., having plants on tho Tuie
River, Cal. Tho Midland Counties Public Service Corporation (V. 98,
p. 1849), controlled in same interest, purchases all of Its power from the
San Joaquin Lt. S P. Corporation. Franchises in cities are perpetual;
c
outside of cities, with two exceptions, extend beyond 1950. About onehalf the total length of transmission linos is on prlvato right of way. Sup
plies electricity for lighting, power and pumping purposes throughout the
San Joaquin Valloy, including the cities of Merced, Madera, Fresno, Selma
Hanford, Bakersfield, Sanger, Dlnuba and about 60 towns and small cities:
population served, about 250,000. Distributes gas in Bakorsfield, Kern,
Merced and Selma: operates a street railway system in Bakersfield and Kern
and furnishes water for domestic purposes In Selma and Madera.
Rate Increases.— On April 22 1918 was auth. by tho Cal. UR. Comm, to
put into effect a new schedule of power and lighting rates. On M ay 28
1918 was auth. to put into effect a surcharge of 10%.
In Aug. 1918 was auth. by tho Cal. R lt. Comm, to issue and sell at not
loss than 90 $113,000 series " C ” 6 % 1st & ref. mtge. bonds (not incl. In
amount outstanding), proceeds to bo deposited and expended for acquisi
tion of property. V. 107, p. 611. In Sept. 1918 was auth. bv tho Cal. ltlt.
Comm, to use the proceeds from tho sale of $202,761 series “ C ” 0% bonds
to finance construction expenditures. V. 107, p. 1 1 0 2 .
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity.
Common $15,000,000 ( $ 1 0 0 ) - - ____ _______
$11,000,000
...
Prof. $10,000.000($100)6%cum.
Q— M15
«.500.000 Sopt ’ 18.1 44
Conv debs gold Series A1 1917
0 g M -N
892.000 May 1 1927
$4,500,000 ($1,000) -,c * t f)I n t. payable In Los Angeles or New York.
1st & Ref mtge $25,000,000 gl 1910 5-6 F A
8 513.000 Aug 1 I960
($1,000) sink fuud.c*&r*tf |Equit. Tr. C o., N. Y .. trus.; int. In N. Y.
San loaquln L & P Co 1st M l
1905 5 J-D
2.652.000 June 1 1945
$3,000,0008f ($l.000)c*ntf (Redeemable at 110 and Interest.
San Joaquin Power Co . . . n t f ___ 6 %
25.000
1942
Power Trans 3c Lt M 52.500-1
1903 5 g J-D
80.000 June l 1933
000 gold (51,000)______tf JMercantile Trust Oo.. San Francisco, trustee
Bakersfield tc Kern Elec Ryl
1901 5 g J-J
43,000 July t 1931
$250,000 gold (51.000) ntflUnion Trust C o.. San Francisco, trustee.
Stock.—Capital stock cannot be increased without assent of tbree-rourtha
of stock of both classes
Bonds.— Of the 1st 3c ref bonds of 1910 reported outstanding, 51,500,000
($1,420,000 held by public, $20,000 repurchased by tho co. and $60,000
held alivo in sink, fund) are Series A 6 s; $799,000 are Series B, bearing 5% .
and $2,125,000 are Sorias B, bearing 0% , and $4,089,000 (of which $50,000
certified but not sold) are Series C 6 s (V. 100, p. 7381. $3,010,000 First
& Refunding M . bonds are reserved to retire prior lions (Incl. $186,000
held in or for sinking funds) and remaining $13,477,000 bonds maybe
Issued at not exceeding 6 % int. for add’ns, impts.. See., at 75% of coat
under certain restrictions. Series A callable at 10244, others at 105.
Tax exempt in California. First and refunding mortgage contains
sinking fund provisions calling for payments of $145,000 annually
(to bo used partly for betterments and additions and partly for re
demption of bonds, Series A bonds having preference over other series)
from 1915-1919; $150,000 annually from 1920-1924 and ranging there
after from 244% annually of bonds out from August 1925-1929, incl.,
to 444% annually from August 1945-1949, inclusivo. V. 91, p. 1332.
By a supplementary mortgage, holders of Series B 5s were permitted
to oxchango them for Series B 6 s upon paymont of $100 per bond up to
May 31 1917.
Tho debentures aro redeemable, all or part, at any time
prior to May 1 1922 at 102 and Interest and thereafter at 101 and interest.
Under tho trust agreement tho company covenants that no furthor
underlying bonds are to be issued; that no further mortgage than existed
at May l 1917 be made; that debentures outstanding and floating
debt will *not at any timo Jexcoedj£$l .800,000, ;and.lthat jno.Jdlvidonds
b o p a i d s t o c k h o l d e r s in e x c e s s o f p r e s e n t r a t e w h e n f l o a t i n g d e b t e x c e e d s
q ton n q q q
P r o v is io n fo r c o n v e r s io n in t o 6 % c u m u la t iv e p re fe r re d s t o c k
w ill b e m a d e .
S e c u r it y T r u s t & S a v in g s B a n k , t r u s t e e .
V . 104, p . 1903.
O f t h e $ 2 6 5 2 ,0 0 0 S a n J o a q u in L c . & P o w . C o . 1 s t 5 s , $ 5 ,0 0 0 a r e h o ld
b v c o f o r " s i n k . f d . p u r p o s e s , $ 2 5 , 0 0 0 c o r t i f i o < l u n s o l d a n d $ 3 4 , 0 0 0 a l i v e in
s in k
fd
$ 5 9 ,0 0 0 P o w . T r a n s it & L t . C o . 5 s in a d d i t io n t o t h e a m o u n t
r e p o r t e d o u t s t a n d i n g a r e h o ld a li v o in s in k
fd .
$ 8 0 ,0 0 0 B a k e r s fie ld &
K e r n E le c . B y . 1 s t 5 s a r e h e ld in s in k , f u n d (in a d d i t io n t o t h o s e r e p o r t e d
a S £ h r W e n d s . i— P a i d 4
% o n p r e f . s t o c k i n 1 9 1 2 ; in 1 9 1 3 , 6 % ; i n 1 9 1 4 , 3 % ;
n o n e t o J u n o 1 9 1 7 , w h e n 1 H % w a s p a id ; 1 1 4 % q u a r . s in c e .
R E P O R T .— F o r c a le n d a r y e a r s (1 9 1 7 r e p o r t in V . 1 0 6 , p . 2 6 4 5 ):
Y ea r—
In com e.
1 9 1 7 ............................. $ 2 , 1 3 4 , 1 6 7
1 9 1 6 ................................ 1 , 8 3 8 , 4 6 4
A
fa x e s .
$ 8 9 5 ,6 3 6
7 3 6 ,9 7 7
In com e.
$ 1 ,2 3 8 ,5 3 1
1 ,1 0 1 .4 8 7
S u r p lu s .
$ 6 8 9 ,6 0 7
6 1 0 .0 5 0
(N e t).
$ 5 4 8 ,9 2 4
4 9 1 .4 3 7
P R O P E R T Y . — T h e c o . o w n s p o w e r p la n t s w it h 6 5 ,0 0 0 h .p . ; o p e r a t e s
7 8 2 m ile s O f h ig h - t e n s i o n t r a n s m is s io n li n e s , 3 3 s u b - s t a t i o n s a n d 2 ,4 3 2 m ile
o f d is t r ib u t in g lin e s .
R e s e r v o ir c a p a c i t y , 5 1 ,0 0 0
acre
fe e t.
9 0 m ile s
o f g a s m a in s .
O p e r a t e s 1 0 .5 1 m i l e s s t r e e t r a i l w a y t r a c k i n B a k e r s f i e l d ,
s u p p le m e n t e d b y a u t o m o b il e b u s lin e s in o u t l y i n g t e r r it o r y .
O F F I C E R S .— P r e s ., W . G . K e r c k h o ff; V .- P .s , A . O . B a tc h a n d B e n . R .
M e v e r : S e c .. L . M . F a r n h a m ; T r o a s . & C o m p ., A . B . P e a t ; G e n . M g r .,
A . G . W is h o n .— V . 1 0 6 , p . 2 6 4 5 , 2 6 5 0 , 2 7 5 8 ; V . 1 0 7 , p . 6 1 1 , 1 1 0 2 .
F R E S N O T R A C T I O N C O .— A t r o lle y r o a d .
I n 191 0 S o u th e r n P a c ific a s su m e d c o n t r o l a n d o w n s a ll th e s t o c k e x c e p t
d ir e c to r s ’ s h a res.
O R G A N I Z A T I O N . — I n c o r p . in C a l . S e p t . 2 2 1 9 0 3 .
L eases th e F resn o
C ity H y .
P u r c h a s e s p o w e r f r o m S a n J o a q u i n B t . & t o w e r <JO.
I n D e c . 1 9 1 6 t h e C a l. R R . C o m m . a u t h . t h e c o . t o s o il $ 4 9 ,5 9 7 b o n d s f o r
e x t s . ( n o t i n c l In a m o u n t s r e p o r t e d o u t s t a n d i n g ) .
F a r e s .— I n S e p t . 1 9 1 8 w a s a u t h . b y t h o
no/ C 0
ri7 J,n C i i r w 0
°
fa r o s fr o m 5 t o 6 c e n t s a n d c o m m u t a t io n r a to s b y 1 0 % .
V . 107, p . 1192.
STO CK
A N D
45
ELECTRIC RAILWAYS
Sept ., 1918. J
BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
G A R Y . IN D .
GARY STREET RAILWAY CORPORATION.
O R G A N I Z A T I O N . — I n c o r p . in F e b . 1 9 1 8 i n V a . a s s u c c e s s o r t o t h e
G a r y & I n t e r u r b a n R y . a u d E a s t C h ic a g o l t y . , s o ld a t fo r e c lo s u r e S e p t. 18
1 9 1 7 ( V . 1 0 5 , p . 1 3 0 9 ) , p e r r e o r g a n i z a t io n p la n in V . 1 0 0 , p . 1 2 3 0 .
ow ns
t h e e n t ir e $ 3 6 5 ,0 0 0 c o m m o n s t o c k o f t h e G a r y S t r e e t R y . ( i n c o r p . In I n
d ia n a S e p t . 2 6 1 9 1 7 ). th e o p e r a t in g c o m p a n y .
C o n t r a c t w i t h C a l u m e t E l e c t r i c C o . — G u a r a n t y .— A c o n t r a c t d a t e d S e p t . 6
1 9 1 7 a s a m e n d e d , p r o v id e s t h a t in c o n s id e r a t io n o f $ 5 0 ,0 0 0 in c a s h , a n d
it s g u a r a n t y o f t h e i n t . o n t h e 2 0 - y e a r d e b e n t u r e s f o r a p e r i o d o f f i v e y e a r s
f r o m O c t . 1 1 9 1 7 ( w h ic h g u a r a n t y is s e c u r e d b y d e p o s it o f $ 1 2 5 ,0 0 0 1 s t M .
b o n d s o f th e C a lu m e t E le c t r ic C o ., b e in g o n e -h a lf o f th e p r e se n t o u ts ta n d
in g is s u e ) , t h e C a lu m e t E le c t r i c C o . s h a ll h a v e a n o p t i o n f o r f i v e y e a r s t o
r e d e e m o r p a y a t p a r a n d i n t . a ll o f s a i d d e b e n t u r e s a n d t h e r e u p o n t o r e
c e iv e a ll o f t h e c o m m o n s t o c k o f t h e c o r p o r a t i o n .
T h e E l e c t r i c C o . is
fu r t h e r t o h a v e a r e n e w a l f o r f iv e y e a r s o f it s c o n t r a c t f o r t h e fu r n is h in g
o f p o w e r t o t h e p r o p e r t i e s , a n d , in t h e m e a n t i m e , w ill c o n t r o l t h e m a n a g e
m e n t t h r o u g h a v o t i n g t r u s t a g r e e m e n t u n d e r w h i c h a ll o f t h e c o m m o n
s t o c k o f t h e c o r p o r a t i o n is t o b o d e p o s i t e d w i t h t h r e e v o t i n g t r u s t e e s , o r
w h o m o n e s h a ll b o a r e p r e s e n t a t i v e o f t h e o l d G a r y & I n t e r u r b a n R y .
b o n d h o ld e r s a n d th e o t h e r t w o o f th e C a lu m e t E le c t r ic C o .
In ca se th e
E l e c t r i c C o . s h a ll n o t r e d e e m a ll o f t h e d e b e n t u r e s o n o r b e f o r e O c t . 1 1 9 2 2 ,
o r in c a s e i t s h a ll d e f a u l t o n it s g u a r a n t y o f t h e p a y m e n t o f i n t . t h e r e o n ,
t h e n t h e c o m m o n s t o c k o f t h e c o r p o r a t io n s h a ll b e d is t r ib u t e d r a t a b ly
a m o n g t h e b o n d h o ld e r s o f th e v o t in g tr u s t c e r t ific a t e s .
[ T h e C a l u m e t E l e c t r i c C o . is a n I n d i a n a c o r p . a n d s e c u r e s a ll i t s e l e c
t r ic p o w e r f r o m t h e P u b li c S e r v ic e C o . o f N o r t h e r n I llin o is , s e llin g a n d
d is t r ib u t in g t h e s a m e in t h e H a m m o n d , W h i t i n g a n d G a r y d is t r ic t s .!
F a r e s .— I n A u g . 1 9 1 8 a p p l i e d t o t h e I n d . P . S . C o m m , f o r a u t h . t o
c h a r g e a 6 -c e n t fa r e in a n d b e t w e e n G a r y , E a s t C h ic a g o a n d H a m m o n d
a n d a n 8- c e n t f a r o in c e r t a in o t h e r l o c a l it ie s .
V . 107, p . 802.
...
U p o n c o n s u m m a t io n o f t h e r e o r g a n iz a t io n p la n , t h e fo ll o w in g s e c u r itie s
w ill h e o u t s t a n d i n g ( s a n c t io n e d b y I n d . P . S . C o m m is s io n ) :
M a tu rity
--------------------S t o c k $ 5 ,0 0 0 ,0 0 0 ..($ 1 0 0 )---- - - - F ir ^ t
m n r fi/iffo
000 0001 1 904
5 J -J
7 0 9 ,0 0 0 J u ly 1 19 4 4
( $ 1 , 0 0 0 ) , g o l d ____. . . c . ' n t f J l n t . a t U n i o n T r u s t C o . , S a n F r a n . , T r u s t e e .
S T O C K A N D B O N D S .—
D a le.
In ter es t.
O u tsta n d in g .
M a tu rity .
.........................
----------- -----------C o m m o n $ 8 0 0 , 0 0 0 ( $ 1 0 0 ) ........................
Pref 6 % n o n - c u m $ 7 2 , 5 0 0 ( $ 1 0 0 ) ------------------------7 2 ,5 0 0
------------------G a r y S t r e e t R y .—
. . . . . .
P r e f 6 % n o n -c u $ 3 6 5 ,0 0 0 ($ 1 0 0 ) — - - - - - 3 6 5 ,0 0 0
V io g T
F ir s t M t g e b o n d s $ 2 ,5 0 0 ,0 0 0 [ 1 9 1 7
5 g A -O
aI k ! ? /
( $ 1 0 0 , $ 5 0 0 a n d $ 1 , 0 0 0 ) ____( C e n t r a l T r u s t C o . o f I I I . a n d W m . T . A b b o t t ,
F r e s n o * (^ ty ^ v f e t ^ m
1902
6 g J -J
8 0 .0 0 0 J a n
1 1922
$ 1 5 0 ,0 0 0 gold ( $ 1 , 0 0 0 ) c * t f \ U n i o n T r u s t C o . , S a n F r a n c i s c o . T r u s t e e .
Debentures
H a n d s ___F r e s n o T r a c . 1 s t M . b o n d s h a v o a s i n k i n g f u n d c o m m e n c i n g in
1 9 0 9 o f $ 2 5 0 0 p e r a n n u m fo r fir s t 5 y e a r s a n d in c r e a s in g $ 2 ,5 0 0 p e r a n n u m
f o r e a c h 5- y e a r p e r i o d t h e r e a f t e r t o $ 1 7 , 5 0 0 p e r a n n u m f r o m 1 9 3 9 t o 1 9 4 3 .
F r e s n o C it v b o n d s h a v e a s in k in g fu n d o f $ 3 ,0 0 0 p e r a n n u m f o r fir s t t w o
vp ars
8 5 0 0 0 n o r a n n u m fo r n e x t f i v e y e a r s a n d $ 7 ,5 0 0 p e r a n n u m fo r
n ex t 1 0 years
w h ic h b e g a n J a n . 1 1 9 0 5 .
B o n d s c a n n o t b e c a lle d .
In
t e r e s t p a y a b l e in N e w Y o r k a n d S a n F r a n c i s c o .
s fo c it!— P r e fe r r e d s t o c k o f b o t h c o s . is l i m i t e d t o t h o a u t h . a m o u n t s
m e n t io n e d a b o v e .
B o t h Issu es a r e r e d . a s a w h o le a t p a r o n 3 0 d a y s n o
t ic e .
D iv id e n d s o n t h e c o m m o n s t o c k o f th o G a r y S tr e e t R y . C o r p . or
V a . a r e lim it e d b y v o t i n g t r u s t t o $ 1 0 ,0 0 0 p e r a n n u m .
t
V o t in g T r u s t .— A ll t h e c o m m o n s t o c k ( e x c e p t d i r e c t o r s s h a r e s ) is h e ld
u n d e r a v o tin g tru st a g re e m e n t fo r 5 y ea rs t o O c t. 1 1 9 2 2 .
T ru stees are
M o r t im e r N . B u c k n e r , F r a n k J . B a k e r a n d C h a r le s W . C h a s e .
B o n d s .— R e m a in in g 1 s t M . b o n d s m a y b o is s u e d f o r a d d i t io n s , e x t n s a n a
im p ts . fo r n o t o v e r 8 5 % Q f c a s h c o s t o f s a m e , a n d
r e p a v ^ g a n d tra ck
r e n e w a ls n e c e s s it a t e d b y p u b lic o r d e r s , f o r n o t m o r e t h a n 9 0 % o f t h e c a s h
cost o f sam e.
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,
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.
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b v e n d o r s e m e n t b y t h o C a lu m e t E le c t r ic C o . , s a id g u a r a n t y b e in g s e c u r e d
b y p le d g e o f $ 1 2 5 ,0 0 0 o f t h a t c o . ’s 1 s t M . b o n d s .
R e d . a t p a r a n d in t.
o n 3 0 d a y s ’ n o t ic e .
T h o c o . c o v e n a n t s , a m o n g o t h e r t h in g s , n o t t o p e r m it
a n y lie n u p o n t h o p r o p e r t y a h e a d o f t h e d e b e n t u r e s e x c e p t t h e F ir s t M t g e . ,
a n d t o e x p e n d o r s e t a s id o a n n u a lly f o r m a in t e n a n c e a n d t o o r fs e t d e p r e c ia
tio n 1 4 %
o f g r o s s e a r n in g s :
„
D iv id e n d s .— D i v s . o n c o m . s t o c k o f t h o C o r p . a r e r e s t r ic t e d b y v o t i n g
t r u s t a g r e e m e n t t o $ 1 0 ,0 0 0 p e r a n n u m .
6 M o s .E n d . — Y r s . en d . J u n e 3 0 E A R N I N G S .—
D ec . 31 1 9 1 7 .
1 9 1 6 -1 7 .
1 9 1 5 -1 6 G r o s s e a r n i n g s -----------------------------------------------$ 1 8 1 ,3 3 3
$ 3 1 8 ,1 7 1
$ 2 4 5 ,0 2 7
N e t , a f t e r t a x e s _____________________________
4 2 ,9 5 4
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R O A D .— O p e r a te s 2 2 m ilo s in G a r y a n d b e t w e e n G a r y a n d H a m m o n d ,
I n d . . a n d a 1 0 -m ile lin e b e t w e e n G a r y a n d I n d i a n a H a r b o r , I n d .
O F F I C E R S .— P r e s ., F r ie n d H o a r , N . Y . ; V . - P . , W m . R . S a in s b u r y ,
B r o o k ly n
N . Y . : S e c . & T r e a s ., W in t h r o p H . K e llo g g , P o r t W a s h in g t o n ,
N . Y .— V . 106, p . 715; V . 107, p . 802.
C O M B IN E D E A R N IN G S .— Incl. Fresno C ity R y .:
C ol
V e n r s ___
1917
1 9 1 6 IIII —
G ross
E a r n in g s .
$ 2 3 5 ,6 4 0
225, 518
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T a x es ).
$ 3 2 ,0 1 4
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In com e.
$ 2 7 ,5 3 0
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R e n ta ls, A c .
$ 1 1 0 ,0 8 3
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D e fic it.
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i ? 0 / V D ___M i l e a g e o p e r a t e d ( i n c l . 8 . 1 4 m i l o s l o a s e d f r o m F r e s n o C i t y l t y . ) .
4 5 0 1 3 m ile s .
A ls o o w n s 9 .1 1 m ile s o f s in g le -t r a c k o p e r a t e d o y S o u t h e r n
P a c ific C o .
S t a n d a r d -g a u g e , 7 5 -lb . “ T ” r a il. 3 3 e le c t r ic m o t o r p a s s e n g e r .
3 w o r k c a r s ; 2 tr a ile r s , a n d 1 e le c t r ic lo c o m o t i v e .
O F F I C E R S . — P r e s . , VV. F . H e r r i n , S a n F r a n c i s c o : V . - P . , P a u l S h o u p .
S e c . & A u d ., I I . A . C u llo d e n , L o s A n g e le s : G e n . M g r ., F . W . W e b s t e r
F r e a n o i.T r e a s ., M . S . W a d e , L o s A n g e le s .— V . 7 8 , p . 1 2 2 2 ; V . 1 0 7 , p . 1 1 9 2 j
GADSDEN, ALA.
ALABAMA C IT Y
GADSDEN
& ATTALLA
RY.
O R G A N I Z A T I O N .— In c o r p o r a te d u n d e r a s p e c ia l c h a r te r fr o m th e S ta te
o f A la b a m a .
O p e r a t e s , b e s id e s s tr e e t r a ilw a y , a lig h t p la n t , a n Ice p la n t
an d a coal y a rd .
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
S t o c k $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) ................... ..... ............................... ...........
$ 3 3 0 ,0 0 0
...........................
M ortg a g e
$ 3 0 0 ,0 0 0
g o ld / 1906
5 g M -N
2 9 8 ,0 0 0 N o v
11936
( $ 1 . 0 0 0 ) _____________________ t f l l n t e r e s t a t T r u s t C o . o f A m e r . , N . Y . , T r u s t
B o n d s .— T h e u n is s u e d b o n d s a r e r e s e r v e d f o r fu r t h e r a d d i t io n s a t 9 0 %
o f cost.
S u b je c t t o c a ll o n a n y I n te r e s t d a t e a t 1 0 5 a n d in t e r e s t .
ROAD.— O p e r a t e s 11 m i l e s o f t r a c k , c o n n e c t i n g t h e p o i n t s n a m e d i n t h e
t it le . S ta n d a r d g a u g e . 4 0 a n d 7 0 -lb . T r a il.
_
„
„
O F F I C E R S . — P r e s ., E . T . S c h u le r , G a d s d e n . A l a .;
V .-P r e s .. G . H
S c h u le r . J a c k s o n v ille , F la .— V . 8 3 , p . 8 1 7 .
GALVESTON, TEXAS.
OALVESTON-HOUSTON ELECTRIC CO.— A
h o ld in g
g o l d I 1 9 1 7 S t0 ° 5 g A - O
8 0 0 ,0 0 0
O ct
1 1937
G A R Y & V A L P A R A IS O R R .
O R G A N I Z A T I O N .— I n c o r p o r a t e d in I n d ia n a o n N o v . 19 1 9 1 7 w ith
a u t h o r iz e d c a p it a l s t o c k o f $ 1 0 ,0 0 0 t o o p e r a t e t h e lin e s o f t h e G a r y C o n n e c t
in g R y s . a n d th e V a lp a r a is o & N o r t h e r n R y . , w h ic h w e r e s o ld u n d e r f o r e
c lo s u r e S e p t . 1 8 1 9 1 7 , p e n d in g a n a p p e a l t o r e s tr a in t h e J u n k in g o f t h e
p rop erty .
O n F e b . 15 1 9 1 8 t h e I n d . P . S . C o m m . a u t h . th e h o ld e r s o f
t h e b o n d s c o v e r i n g t h e lin e b e t w e e n G a r y a n d V a lp a r a is o t o d is m a n t le th e
p r o p e r t y a n d d is p o s e o f it a s ju n k .
,
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,T ,
.
R O A D .— E x te n d s fr o m C h e s t e r t o n t h r o u g h G o o d r u m t o V a lp a r a is o ,
12 m ile s , a n d fr o m G a r y t o V a lp a r a is o , 1 6 m ile s (s e e a b o v e ) .
T o t a l m ile
a g e o p e r a t e d 2 8 m ile s .— V . 1 0 5 , p . 2 2 7 2 ; V . 1 0 6 , p . 2 9 5 .
com p a n y
O R G A N I Z A T I O N .— I n c o r p .
In M a i n e o n
M ay
8 1907.
C o n tr o ls
th r o u g h o w n e r s h ip o f s t o c k th e G a lv e s t o n E le c t r ic C o . a n d th e H o u s t o n
E le c . C o . , w h ic h c o m p a n ie s d o t h e e n t ir e e le c t r ic r a ilw a y a n d p a r t o f th e
e le c t r ic lig h t in g a n d p o w e r b u s in e s s in G a lv e s t o n a n d th e e n t ir e e le c t r ic
r a i l w a y b u s in e s s in H o u s t o n .
A ls o o w n s s t o c k o t G a lv .- H o u s . E le c . R y .
a n In te ru rb a n r o a d b e t w e e n G a lv e s t o n a n d H o u s t o n . 5 0 m lie s , a n d g u a r
a n t e e s it s b o n d s , p . , l . a n d s . f .
F r a n c h i s e s e x p i r e in G a l v e s t o n I n 1 9 5 0 ; i n
H ou ston . 1935.
T h o in t e r u r b a n is o n p r i v a t e r i g h t - o f - w a y .
$ 5 0 0 ,0 0 0
c o n i , s t o c k is o w n e d h y P u b l i c S e r v i c e i n v e s t m e n t C o .
F a r e s .— I n S e p t . 1 9 1 8 t h o H o u s t o n E le c t r i c C o . , a s u b s i d i a r y , w a s a u t h
b y t h o C i t y C o u n c il t o in c r e a s o fa r o s f r o m 5 t o 6 c e n t s , t h o n o w r a t e t o b o
m e r e ly t e m p o r a r y a n d t o b o t e r m in a te d b y t h o C it y C o u n c il a n y t im e it
sees fit.
I n v i e w o f t h o p r o p o s e d in c r e a s e in w a g e s a lo n g lin o s s u g g o s t e d
b v t h o W a r L a b o r B o a r d , t h o c o m p a n y w i l l , i t is s t a t e d , f i l o a n o w a p p l i c a
t io n fo r 7-c e n t fa r e s .
V . 107, p . 1195.
STO CK A N D BO N D S—
D a te .
In terest. Outstanding L a s t D i v . A c .
S ee te x t
M -8 15
$ 3 ,9 8 8 ,0 0 0
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t e e , o r a t c o m p a n y ' s a g e n C y In N o w Y o r k .
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1909
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2 ,8 7 7 .0 0 0
O ct. 11954
0 0 0 ,0 0 0 g g u a r .............c * & r t f I n t . a t O l d C o l o n y T r . C o . , B o s t . , T r u s t e e .
H lo us E l e c C o 1 s t M. . $ 2 , 5 0 0 , ou s
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0 0 0 g ($ 1 ,0 0 0 ) sk f d , c * t f ( I n t . a t I n t e r n a l, T r u s t C o . . B o s t . , T r u s t e e
N o t e s p a y a b l o , J u n o 3 0 1 9 1 8 - _____
____________
8 5 5 ,0 0 0
___________
S t o c k .— P r e f . i s c a l l a b l e a t 1 2 0 a n d a c c u r n . U i v .
B o th p r e f. a n d co m
a r e lis te d o n B o s t o n S t o c k E x c h a n g e .
G a l v e s t o n E l e c t r i c C o .— O f t h e b o n d s , $ 1 , 0 2 6 , 0 0 0 r e s e r v e d f o r a d d i t i o n s
a n d i m p t s .a t 8 0 % o f c o s t a n d $ 1 5 4 ,0 0 0 h a v o b e e n c a n c c l o d . A s in k in g fu n d
o f 1 U % o f b o n d s c e r t ifie d b e g a n J u ly 1 1 9 0 6 .
C a l l a b l e a s a w h o l e o r In
a r t fo r s in k in g fu n d o n a n y in t . d a t e a t 1 1 0 a n d in t . o n 3 0 d a y s ' n o t ic e
ee V , 8 1 . p . 975.
G a l v e s t o n - I I o u s l o n E l e c t r i c R y .— O f t h e r e m a i n i n g b o n d s , $ 2 6 , 0 0 0 a r e
h e l d In t r u s t f o r b e n e f i t o f c o m p a n y a n d
$ 2 ,0 0 0 , 0 0 0 a r e r e s e r v e d f o r
a c a u is ltlo n s a n d
im p r o v e m e n t s ; $ 9 7 ,0 0 0 h a v e b e e n c a n c o ie d ,
D e n o m .:
c o u p o n , $ 5 0 0 a n d $ 1 ,0 0 0 ; r e g is t e r e d , $ 1 ,0 0 0 a n d $ 5 ,0 0 0 .
S u b je c t t o c a ll
o n a n y i n t e r e s t d a y in w h o l e , o r i n p a r t f o r s i n k i n g f u n d , a t 1 0 5 a n d i n t .
S in k in g fu n d o f 1 % o f b o n d s t o 1 9 4 4 ; th e r e a ft e r 1 ) 4 % .
F ir s t f iv e p a y
m e n ts w a iv a b le .
B o n d s a r e g u a r ., p r lu ., in t . a n d s in k in g fu n d , b y G a lv
H o u s . E le c . G o .
See V . 9 0 . p . 697.
H o u s t o n E le c tr ic C o .— E n t ir o is s u e , b u t n o t a n y p a r t , c a n b o c a ll e d o n
a n y in t . d a t e a t 1 0 7 K a n d in t.
S in k in g f u n d o f 1 H % o f b o n d s o u t s t a n d
in g , p a y a b lo o n A u g . 1 e a c h y e a r .
See V . 74, p . 680.
$ 6 7 9 ,0 0 0 o f b o n d s
n o t o u t s t a n d in g w a s h e ld b y th is fu n d o n J u n o 3 0 1 9 1 8 .
S
D I V I D E N D S .— O n c o m m o n , 1 ) 4 % s e m l-a n n . fr o m S e p t , 1 9 0 9 t o a n d
I n c l. M a r . 1 9 1 2 . a m o u n t t h e n In c r e a s e d a n d p a id 2 % in S e p t . 1 9 1 2 .
Ii
M a r . 1 9 1 3 in c r e a s e d t o 2 ) 4 % . in S e p t , t o 3 % a n d in M a r . 1 9 1 4 t o 3 X %
S e p t . . 3 ) 4 % . In 1 9 1 6 .M a r . , 3 ) 4 % . S e p t . 1 9 1 5 d i v . o m i t t e d . ( V . 1 0 1 .p .8 4 5
E A R N IN G S . —
O f th o c o m b in e d c o m p a n ie s fo r 12 m o s . e n d in g J u n e 3 0 :
Y ear—
G ross.
N e t (a ft. T a x . ) . I n te r e s t. S in k . F u n d s .
S u r p lu s
$ 8 2 9 ,4 1 3
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R O A D . — O p e r a t e s 1 6 1 .0 5 m ile s s in g le t r a c k ; s t a n d a r d g a u g e ; 2 6 2 p a s s e n
g c r an d 37 oth er ca rs.
P o w e r s t a t io n s h a v o c a p a c i t y o f 6 ,5 8 2 k . w .
O F F I C E R S .— P r o s ., M a r s h a ll M . P h in n e y ; S e c ., H o llis T . G lo a s o n
T roas
H e n r y B . S a w y e r : G e n . M g r s ., s t o n e & W e b s te r M g t . A s s n .— V
1 0 5 7 P - 2 8 4 : V . 1 0 6 , I ). 3 9 5 . 7 1 5 ; V . 1 0 7 , p . 1 1 0 0 , 1 1 9 5 .
$800,000
GENEVA, N. Y.
QENEVA SENECA FALLS & AUBURN RAILROAD CO.. INC.
O R G A N I Z A T I O N .— I n c o r p . M a y 28 1913 as su cce sso r o f th e G e n e v a &
A u b u r n R y . s o ld a t fo r e c lo s u r e M a r c h 14 1 9 1 3 .
P u b lic S e r v . C o m m is s io n
a u t h o r i z e d t h e s a le o f $ 5 2 4 ,0 0 0 b o n d s a t n o t le s s t h a n 8 5 .
V . 9 7 . p . 298.
T h e P u b l i c S e r v ic e C o m m i s s i o n In M a y 1 9 1 5 a u t h . t h e is s u e o f $ 3 7 1 5 0
6 % s e r ia l n o t e s m a t u r in g w it h i n 6 y e a r s , t h e p r o c e e d s t o b e u s e d f o r
a d d itio n s , im p r o v e m e n ts . & c .
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fa r e s a n d p u t a n e w fa r e z o n e in t o e ffe c t a s o f N o v . 1 1 9 1 6 , h o ld in g t h a t t h e
c o m p a n y ’s r e v e n u e s w e r e n o t s u f f i c i e n t t o y i e l d a f a i r r e t u r n o n t h e p r o p e r t y
n v estm en t.
O u tsta n d in g .
M a tu rity .
STO C K A N D B O N D S—
D a te .
In ter es t.
* 1 5 7 .1 0 0
......................
S t o c k , $ 2 0 0 , 0 0 0 ..................................... - - - - - - - - -
5 0 4 .0 0 0 J u ly 1 1 9 4 3
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5%
1 7 .0 0 0
See
te x t.
S e r i a l n o t e s -------------------------------------- 1 9 1 5
6%
E A R N I N G S .— F o r y e a r e n d . D e c . 3 1 1 9 1 7 , $ 1 0 7 ,3 8 6 ; n e t , a ft e r t a x e s .
$ 1 8 ,7 1 0 .
I n 1 9 1 6 , g r o s s , $ 1 0 2 ,1 3 8 ; n e t , a f t e r t a x e s , $ 2 9 ,6 1 1 .
” R O A D .— E x te n d s fro m G e n e v a t o C a y u g a L a k e P a rk th r o u g h W a te r lo o
a n d S e n e c a F a lls .
L e n g t h o f m a in t r a c k s 1 8 .3 1 m ile s ; s id in g s , .8 1 9 m ile ;
m is c e ll a n e o u s , .3 6 m llo ; t o t a l , 1 7 .4 8 9 m il e s .
R a ils , 7 0 , 8 0 . 9 0 a n d 1 0 0 -lb .
_
_
.
,
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„
. ,
T ; tra ck sta n d a rd g a u g e .
O F F I C E R S .— P r e s ., R . R . Q u a y , P it t s b u r g h , P a .; S e c ., L . G . H o s k in s ,
G e n e v a . N . Y . ; S u p t .. T r e a s . & P u r c h . A g t .. W . A . S h ir le y . W a t e r lo o .
N . Y .; G e n . A u d ., T h o s . H . W e r r y J r ., P it t s b ., P a .— V . 9 6 , p . 1 6 2 9 ;
V . 97, p . 298.
_________
G IR A R D , PA.
CLEVELAND & ERIE RAILWAY CO.
O R G A N I Z A T I O N . — I n c o r p o r a t e d in J u n e 1 9 0 9 .
Is su ccessor to C o n a e a u t & E r ie T r a c t io n C o . , s o ld a t fo r e c lo s u r e .
O w n s a ll t h e s t o c k a n d
b o n d s a n d le a s e s t h e C o n n e a u t & E r i e T r a c t i o n C< . o f O h i o , w h i c h o w n s
1 .9 9 m ile s o f t r a c k .
F r a n c h is e s a r e f o r 9 9 9 y e a r s .
S T O C K A N D B O N D S .—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
$ 3 0 0 ,0 0 0
............................
F ir s t m t g e . $ 8 0 0 ,0 0 0 , g o l d ! 1 9 0 9
5 J -J
5 0 0 .0 0 0 J u ly 1 1 9 2 9
( $ 2 5 0 a n d $ 5 0 0 ) ________ •
c / I n t . a t F id e lit y T r u s t C o ., P h lla ., tr u s te e .
I n c o m e b o n d s * 5 0 0 ,0 0 0 ($ 2 5 0 1 1 9 0 9
5 J u ly
5 0 0 .0 0 0 J u ly 1 1 9 2 9
a n d $ 5 0 0 ) _______________________ ( I n t . a t F i d e l i t y T r u s t C o . . P h i l a . , t r u s t e e .
B o n d s .— R e m a in i n g f ir s t m o r t g a g e b o n d s a r e r e s e r v e d f o r e x t e n s i o n s ,
b etterm en ts. A c .
T h e y a re s u b je c t t o c a ll a t 1 0 5 a n d in t . o n 3 m o n t h s ,
n o t ic e .
I n t . o n I n c o m e b o n d s is o n l y p a y a b l e I f e a r n e d , a n d Is n o n - c u m .
T h e y a r e s u b je c t t o c a ll a t p a r .
B o n d s h a v e n o s in k in g f u n d .
N o In terest
h a s b e e n p a id o n in c o m e s .
E A R N IN G S . — F o r c a l . y e a r 1 9 1 7 a n d y e a r s e n d . J u n e 3 0 :
G ross
N et
O th er
I n t..T a x e s
D cp r. A
B a la n c e
Y ea r—
E a r n in g s .E a r n in g s .
A R e n ta ls.
R e p la c e .
D e fic it
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p u r c h a s e d t h e p r o p e r t y o f t h e S c h u y lk ill T r a c t io n C o . a n d t h e L a k e s id e
B y. C o.
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80. p . 1729.
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P h ila .
G e n . M g r ., W . S . L c ib , P o t t s v ille .— V . 1 0 5 , p . 7 3 ; V . 1 0 7 , p . 2 9 2 .
(1 ) S c h u y l k i l l T r a c t i o n C o . — A tr o lle y r o a d .
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a n d b o u g h t a ll o f Its c a p i t a l s t o c k .
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cars a n d 2 s n o w s w e e p e r s . — V . 8 0 . p . 1 7 2 9 .
GLOVERSVILLE, N. Y.
F O N D A J O H N S T O W N & O L O V E R S V I L L E R R . C O .— S te a m
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B y .. G a s & E le c C o . a n d th e S p r in g fie ld (O .) L ig h t C o . IV
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a n d th e M ic h ig a n R y s . C o .
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e s t in a c o a l m i n e In L o g a n C o . , W . V a .
V . 105, p. 606.
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p u r c h a s e d c o a l l a n d s in I l l i n o i s .
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t a k e c a r o o f t h e * 8 .0 4 7 ,0 0 0 6 % c o n v . b o n d s w h ic h fe ll d u o o n M a y 1 1 9 1 8
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In ter es t.
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M a tu rity C o m m o n s t o c k * 6 , 0 0 0 . 0 0 0 - , _ . .........................................* * 4 . 3 9 2 . 0 0 0
____________ _
1s t m t g e * 1 5 , 0 0 0 . 0 0 0 g o l d / 1 9 1 4
5%
See tex t J u n e l 1944
($ 1 ,0 0 0 . * 5 0 0 . A c ) .
M ic h . T r . C o . an d F ran k A . G o r h a m , tru st.
1s t lien g o l d n o t e s * 7 , 0 0 0 , 0 0 0 / 1 9 1 4
5 g J -D
6 .5 0 0 .0 0 0 J u n e 1 1 9 1 9
( * 1 .0 0 0 , * 5 0 0 & * 1 0 0 ) g u a r / B a n k e r s T r . C o
T r. C o
N
Y ., an d D e tr o it T r .
p
i r in & I n t , .__________________ c * I
.
-----------------C o .. D e tr o it. T ru s te e s.
• A ll o w n e d b y C o m m o n w e a l t h P o w e r R y . A L t . C o . a n d d e p o s i t e d a s
t e c u r lty fo r th e 5 -y e a r g o ld n o te s ( V . 9 8 , p . 1 9 9 3 ).
B . m d s .— O f t h e * 1 5 . 0 0 0 . 0 0 0
p a r t c o l l a t e r a l Tor t h e n o t e s
a u th .
bon ds.
* 8 .1 2 5 .0 0 0
Is
d e p o s ite d
^
as
«
-T h e r e m a in in g * 5 0 0 ,0 0 0
n o te s m a y b e Issu ed o n ly t o e x t e n t
o f 8 0 "o o f c a s h e x p e n d i t u r e s f o r e x t e n s i o n s , f m p t s . , A c . , u n d e r c e r t a i n
r e s t r i c t i o n s (V . 9 8 , p . 1 9 9 3 ) . G u a r . p r i n . A I n t . u n c o n d i t i o n a l l y b y C o m m o n .
o ? ™ L .? y * U
r ’° b y en d o rse m e n t.
(
I n t . p a y a b l e In N
Y or L on don at
* 4 .8 6 6 5 p e r £.
R e d . o n I n t . d a t e s a t 101 a n d i n t .
* 1 0 ,3 1 1 ,7 0 0 p a r v a lu e
o f s t o c k o r s e v e ra l c o m p a n ie s c o n t r o lle d b y th e C o m m o n w e a lt h P o w ., R y . &
L i g h t C o . Is d e p o s i t e d a s c o l l a t e r a l s e c u r i t y .
R O A D . - O w n s a n d o p e r a t e s a n in t e r u r b a n e le c t r i c r a ilw a y 4 8 .9 6 m ile s
lo n g e x t e n d in g fr o m F lin t t h r o u g h S a g in a w t o B a y C i t y , w ith b r a n c h t o
F r a n k e n m u t h ; o n e fr o m A lle g a n t o B a t t lo C r e e k . 4 4 .9 2 m ile s , a n d a n o w
h ig h - s p e e d in t e r u r b a n lin e , 5 8 .0 1 m il e s , e x t e n d in g f r o m G r a n d R a p id s t o
K a la m a z o o
C o n s t r u c t i o n o n t h i s l i n e c o m p l e t e d in D e c . 1 9 1 4 a n d r e g u l a r
s e r v i c e w a s b e g u n M a y 17 1 9 1 5 .
L e a s e s th e M ic h ig a n U n ite d R y s ., 2 5 8 .9 0
1111 e ? / . , a n d t h e G r a n d R a p i d s H o l l a n d A C h i c a g o R y . , 7 6 . 4 8 m i l e s .
O F F I C E R .-* - P re s . B
O . C o b b ; V .-P s .. H
ll C r o w e l l . F r a n k S l l l l m u i
c \ n - an< r r y
f " VVV 8 , ’c
G
B - D u b b in
I’ c i-:
I
\v
G lo n d o n ln g ,
O ffic e . K a la m a z o o . M ic h .— V . 1 0 7 . p . 8 2 . 1 8 1 . 2 9 1 . 6 9 7 , 1 0 0 4 .
U n i t e d R y s . — A t h ir d r a il a n d t r o ll e y s y s t e m .
L eased to
( ’ ° fo r
fr o m J a n
11916
O K t i A N i Z A r l <) N . — I n c o r p o r a t e d In M i c h i g a n o n M a r c h 3 1 1 9 0 6 a n d
Jn M a y 1 1 9 0 6 t o o k o v e r t h e M ic h i g a n T r a c t i o n C o
th e M ic h ig a n T r a c t io n
L "
t.h ,‘ J a t ' k 8 ,j u * B a t t l e C r e e k T r a c t i o n C o . a n d t h e L a n s i n g A
T r a c tio n C o .
T h e L a n s in g A J a c k s o n R a ilw a y C o . h a s a ls o b e e n
d e e d e d t o th e M ic h ig a n U n . R y s
p u r c h a s e d la c k s o n C o n s o lid a t e d T r a c t io n C o .
V . 84 p 1183.
p 2R5
L a t t e r c o m p a n y ’ s f r a n c h i s e s In l a c k s o n e x p i r e In 1 9 9 0 .
T h e C it y o f la c k s o n h a s th e r ig h t t o p u r c h a s e th e la c k s o n C o n s o lid a t e d
F r a c t i o n a t a n a p p r a l n ^ J v a l u e In 1 0 3 0 a n d o a c h 5 y e a r « t h e r e a f t e r .
STO CK AN D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
_____
* 6 .0 0 0 0 0 0
V
C o m m o n , * 6 . 0 0 0 . 0 0 0 * 1 0 0 ) . . _____
P r « f $ 1 . 0 0 0 .0 0 0 r* 1 0 0 ) 6 % c u ................
M -S
1.0 0 0 .0 0 0
‘ ‘ ' See T ext
l,t £*
iJ ^ O O -O O O f 1906
5 g M -N
).< )2 .0 0 0 M a y 1 1 9 3 6
J V 'd
1 -0 0 0 . * 5 0 0 . $ 2 5 0 . / I n t . a t C o l u m b i a T r . C o . N Y .t r u s t e e ,
100 a n d $50)
. . .c & r .t fi
o r N a t . P r o v in c ia l B k o f E n g
L ondon.
5 g J -J
2 3 9 0 0 0 Ia n
1 1QU1
M i c h T r a c 1st m t g e .................. / 1 9 0 1
$ 7 0 0 , 0 0 0 «$| . 0 0 0 ) g c * n t f 1 i n t e r e e t a t N e w Y o r k T r u s t C o . , T r u s t e e .
M L h
ce ^ ! , J r.a r
ftt n a tg ef 1903
5 g J -D
2 8 9 .0 0 0 D e c
11923
* 5 0 0 , 0 0 0 ( * 1 ,0 0 0 , g
c t f j In t a t C o lu m b ia T r C o
N Y .. T ru s te e .
la c k s o n A B a t t le C r e e k fir s t
‘ ‘
1903
5 g J -J
1 .2 0 0 .0 0 0 J a n
11923
m o r t g a g e * 1 . 2 0 0 .0 0 0 (*1
In te r e st a t C itiz e n s
S a v in g s A T r u s t C o . .
0 0 0 ) g o ld
c* tf
C le v e ., T r u s t e e
o r F ir s t N a t B k . . N
Y .
' a c k s o o C o n s o l T r a c 1st m t g e
1904
5 g M -N
7 9 0 .0 0 0 M a y 1 1 9 3 4
• I J W P -B O O f » » ,d ( * 1 0 0 , $ 5 0 0 / I n t e r e s t a t G u a r d i a n T r u s t C o . . N e w Y o r k ,
a n d $ 1 ,0 0 0 )
. .
c * tf(
T ru ste e .
Bunds
o f th e * 1 2 .5 0 0 .0 0 0 fir s t a n d r e fu n d in g b o n d s , s u f f ic ie n t ara
V 's e r v e d f o r p r i o r l i e n s a n d r e m a i n d e r f o r a d d n s .
b e tte r m ts a n d in ip ts .
u h je c t t o c a ll at 110
V 82, p 1157.
S e e a ls o V 87 p 167 2 8 5 ; V . 8 8 .
p, 1 1 3 7 .
B o n d s a r e l i s t e d In L o n d o n .
V .9 0 .p 9 1 4 .
T h e J a ck s o n C o n s o l.
rrjic
a re s u b je c t t o c a ll o n a n y in t. d a t e a t 1 0 5 .
O n th e M ic h ig a n T r a c t io n C o . b o n d s a s in k in g fu n d o f 5 % o f g r o s s e a r n
i n g s c o m m e n c e d In 1 9 0 3 t o b e u s e d In b u y i n g b o n d s a t n o t t o e x c e e d 1 1 0 ;
,! > « _ l n v ™ t« d w ln o t h e r s t a n d a r d s e c u r i t i e s .
V. 72
p. 391;
* 4 6 1 . 0 0 0 M i c h T r a c 1st M b o n d s a n d * 2 1 1 . 0 0 0 M i c h
T rac. E xt
1st M .
b o n d s w e r e h e l d In s i n k i n g f u n d o n S e p t . 1 1 9 1 8 a n d a r e n o t I n c l u d e d In
th e a m o u n ts a b o v e
T h e J a c k s o n A B a ttle C r e e k b o n d s a re s u b je c t t o
a f t e r 10 y e a r s a t 1 0 5 a n d I n t e r e s t .
V . 7 5 . p . 1147
D i v i d e n d s .—
Is b e i n g p a lr l o n p r e f e r r e d s t o c k
c a ll
In a n y
am ount
uuum .
R E P O R T , — E a r n in g s a r e n o lo n g e r r e p o r t e d s e p a r a t e ly .
* i ^ !"L‘
i
O p e r a t e s allI c lt v Hues In J a c k s o n
B a tt le C r e e k . K a la m a z o o
a n d ! .ginning a n d I n t e r u r b a n lin e s b e t w e e n J a c k s o n B a t t le C r e e k a n d K a la FLa? ? ® T * , 7 B e tw e e n J a c k s o n I j i o s l u g a n d Ht J o h n s , L a n s in g a n d O w o s s o .
a n d f r o m J a c k s o n t o G ra s s L a k e a n d W o l f L a k e t o t a l o p e r a t e d 2 o 8 . 9 0 tn .
r h r o u g h s e r v ic e b e t w e e n J a c k s o n a n d L a n s in g b e g a n In N o v
1909
O p
e r a te * t h r o u g h s e r v ic e t o D e t r o i t o v e r D e t r o i t U n it e d R y lin es u n d e r t r a f f i c
a g re e m e n t, c o n n e c t in g fro m J a c k s o n .
V . 94 p 6 8 . 2 07 : V 96 p . 1423.
(b >
G ran d
R a p id s
r
»
A
L ea a tv l t o M ic h i g a n
H o lla n d
&
C h ic a g o
R v.
a " t h e P r o f aTlf| P o e t i c a l l y a ll t h o c o m . e t k
R a i l w a y C o . f o r 9 9 9 y e a r s r r o m ./a n T I 1 9 1 6 .
O R G A N I Z A T I O N — I n c o r p o r a t e d In M i c h i g a n in J u l v 1 9 0 1 a n d Is a r e
o r g a n iz a t io n o n A u g . 1 1904 o f th e G r a n d R a p id s H o lla n d A L a k e M ic h ig a n
R a p id R y .
See V . /9 . p . 62 7 .
P o w e r is s u p p l i e d t o c o m p a n y b y C o n
s u m e r s l o w e r C o . , b u t c o m p a n y m a i n t a i n s o w n s t a t i o n In r e a d i n e s s t o
o p e r a t e In c a s e o f e m e r g e n c y .
F r a n c h i s e s in c i t y o r H o l l a n d a n d v i l l a g e
s t r e e t s e x p i r e In 1 9 2 8 t o 1930*. r e m a i n d e r o n p r i v a t e r i g h t s o f w a y .
STOCK A N D B O N D S —
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n . * 5 0 0 . 0 6 0 ........................ ...
$487 9 00
P r e f * 8 5 0 , 0 0 0 . 6 % .........................................
I " ....................... 8 3 6 .n O O
...........................
1st m t g e . G r a n d R a p id s H o ) . f 1 9 0 0
5 g F - A”
1 .4 7 5 0 0 0 A u g ' T l 9 2 0
A L » k e M ic h
$ 1 .5 0 0 .0 0 0 ,( I n t . a t A m e r ic a n T r . A S a v ) B a n k , C h ic a g o ,
g o ld ($ 5 0 0 a n d * 1 .0 0 0 ) _ n t f (
T ru ste e , or at G u a ra n ty T ru st C o
N
Y .
s i n k i n g f u n d Is p r o v i d e d o f $ 5 , 0 0 0 p e r a n n u m f o r f i r s t 5 y o a r s .
f 1 0 -0 0 0 p e r a n n u m f o r s e c o n d 5 y e a r s . * 1 5 ,0 0 0 y e a r l y f o r t h ir d 5 y e a r s a n d
* 2 5 0 0 0 per a n n u m fo r fo u r th 5 y e a r s .
B o n d s a r e n o t s u b je c t t o c a ll
R O A D — O p e r a te s 7 6 .4 8 m . o f t r a c k fr o m G r a n d R a p id s th r o u g h H o lla n d
t o M a c a t a w a a n d S a t t g a t u c k , w it h s t e a m e r c o n n e c t io n a t H o lla n d f o r C h i c .
V 78 p 7 0 2 : 7 6 8 : V 7 9 . p 6 2 7 : V . 9 6 . p
1422;
V 1 0 0 . p . 140
( 3 ) U n i o n R a i l w a y . Q a * 5s E l e c t r i c C o .
'
M e r g e r . — U n d e r t h e p l a n d a t e d A p r i l 2 6 1 9 1 3 . p r a c t i c a l l y a ll t h e * 5 , 2 5 0 , 0 0 0 p r e f s t o c k w as e x o h a n g o d fo r * 5 .2 5 0 .0 0 0 n e w p r e f a n d $ 5 2 5 ,0 0 0 n e w
c o m . s t o c k o f th e C o m m o n w e a lth P o w .. R y A L t ( ’ o
a n d th e * 6 .0 0 0 .0 0 0
c o m fo r an e q u a l a m t o f n ew c o m . o r * 1 .5 0 0 .0 0 0 p r e f a n d * 4 .5 0 0 .0 0 0 c o m .
O R G A N I Z A T I O N — I n c o r p o r a t e d in N e w J e r s e y J u n o 2 9 1 9 0 9 a n d
a c q u i r e d p r a c t i c a l l y a l l o f s t o c k s o f S p r i n g f i e l d (111.) K y i A L i g h t C o ]
( w h i c h h a s s i n c e b e e n m e r g e d w i t h t h i s c o m p a n y ) , t h o R o c k f o r d ( I I I . ) Sc
I n t e r u r b a n R y . C o ., th e P e o r ia L ig h t C o ., a n d th o E v a n s v illo L ig h t C o
p e r p l a n in V . 8 8 . p . 1 5 0 1 ; a l s o a l l t h o s t o c k a n d b o n d s o f r-ho J a n e s v i l l e
T r a c t i o n ( o . ( $ 1 2 5 ,0 0 0 s t o c k , * 5 0 .0 0 0 b o n d s ) , a n d a ll t h e s t o c k ( 5 4 9 7 5 0 0 )
a n d a l l t h e f i r s t r e f u n d i n g b o n d s ( * 3 8 2 , 0 0 0 ) o f t h e D o K a l b - S y e a m o r e Sc
In te r u r b a n T r a c tio n C o .
O n D e c . 11 1 9 1 6 t h o s t o c k h o l d e r s v o t e d t o
d is s o lv e t h e E v a n s v ille L ig h t C o . , w h ic h o w n e d t h e e n t ir e $ 3 ,0 0 0 0 0 0 c o m ”
m o n s t o c k a n d $ 9 5 0 ,0 0 0 o f t h e p r e fe r r e d s t o c k o f t h e P u b lic U t ilit ie s C o .
1
n e l a t t e r w a s I n c o r n . In J u n e 1 9 1 2 a n d m e r g e d t h e E v a n s v i l l e A S o u t h o r n I n d T r a c . ( s e e ’ E l e c . R y . S e c . " o f M a y 1 9 1 2 ) , E v a n s v i l l e G a s Sc E l e c .
n . ^ nd K vans1
v
S erv. O o .
O n O ct
14 1 9 1 2 < T r c u l t J u d g e W i l
lia m B la k e y s u s t a i n e d t h e d e m u r r e r o f t h e P u b l i c U t i lit i e s C o
In a s u i t
D r o u g h t t o d i s s o l v e t h e c o m p a n y , h o l d i n g t h a t t h e c o n s o l i d a t i o n w a s In a c
c o r d a n c e w i t h t h e s t a t u t e s ( V . 9 5 , p . 1 0 4 0 ) . a n d In D e c . 1 9 1 2 h e d i s m i s s e d
th e s u it . V . 9 5 , p . 1 7 4 7 . T h e U n io n R y . G a s & E lo c . C o . o w n s * 1 .8 7 2 ,0 0 0
f f i B
6 % c u m . p r o f , a n d a l l t h e $ 5 , 0 0 0 ,0 0 0 c o m . s t o c k o f
C o
I U d " a n d o * o '* t r l c p r o p e r t i e s I n n u m e r o u s o t h e r c i t i e s a n d t o w n s In I l l i n o i s .
o t o o b
:
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47
ELECTRIC RAILWAYS
Sept ., 1918.]
»
D M -
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:
.
»
»
«
i s
i s
;
In ter es t.
O u tsta n d in g .
M a tu rity .
„ M f 1913
5 A -O
$ 1 ) 3 . 0 0 0 A p r il 1 1 9 3 3
&T- “
K
.........R e d ( I n t . a t N . Y . a n d L o n d o n
M ic h . T r u s t
a t 105 a n d in t e r e s t . , c * n t f l
C o .. G r a n d R a p id s . T r u s t e e
. . .
S p r in g fie ld
L ig h t.
H eat
& ( 1909
5 F -A
6 ^ 4 .0 0 0 F e b l 1 9 - 9
P o w e r f i r s t m o r t g a g e . . t f 1I n t . a t S t a t e S a v . B k . A T r < o . ^ p l - . t L . T r *
B o n d s .— S u f f i c i e n t g e n . a n d r e f . b o n d s a r e r e s e r v e d t o r e t i r e at o r b e f o r e
m a t u r i t y t h e o u t s t a n d i n g 1st M . b o n d s .
R e m a in d e r fo r e x t e n s io n s , e n
la r g e m e n ts a n d a d d it io n s a t 8 5 % o f c o s t w it h c e r t a in r e s t r ic t io n s .
See
V
102
p
1352
$i>6 0 0 0 f i r s t m o r t g a g e b o n d s I n s i n k i n g f u n d .
E A R N I N G S . - Y e a r e n d in g D e e . 3 1 :
S u r p lu s.
12 M o s .—
G ross
E x p '& T a x .
N e t.
C h a rges
$ 5 6 ,9 4 6
1917
_______ $ 1 9 9 , 5 1 2
$ 3 7 7 ,3 8 0
$ 1 2 2 ,1 6 2
$6._> ,216
1 1 5 ,7 4 8
1916
.
.3 8 2 ,3 0 7
2 0 0 ,5 8 5
1 8 1 ,7 2 3
6 ).9 7 5
— V .T O O , p . 1 9 2 3 : V . 1 0 2 , p . 6 1 4 , 8 1 0 , 1 3 5 2 ; V . 1 0 6 . p . 4 0 3 .
ill
a
a ? r t f ? f \ Y i f r o ^ t r Cm 7 i 9 0 3
\
5 g J -D
3 .0 7 5 .0 0 0 J u n e
PJ 6 . 8 o O.OOO g ( $ 1 . 0 0 0 )
F id e lity a n d C o lu m b ia T r O o . ' ^ ' s v
1 1933
tru .
R o c k fo r d
I n ter u rb a n R y C o . 1902
6 g A -O
1 8 2 5 .0 0 0 O c t
11922
R o c k fo r d
A
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U rban
a t C on
i s t m tg<>
H o ld ( $ 5 0 0 a n d ' I n t e r e s t a t * P l r s t N a t . I l k . N Y %
U n e n . & C o r a . T r . & S a v B k .. G h lo ..t r u »
$1 0001 $ 3 , 0 0 0 ,0 0 0 c * n t f
1903
5 R M -N
5 6 4 ,0 0 0 M a r 1 1 9 2 3
R o c k fo r d
&
F reeport
fir s t
I n t. a t C o n & C o m . T r . & S a v B k .. C h ic a g o
m t g e . $ 7 5 0 ,0 0 0 . g o l d , g u
p & 1 ($ 1 .0 0 0 A $ 6 0 0 )c * ..n t f
« i
1 9 0 5 8 t 6 5‘ g A - O
985 000 O ct
11930
R o c k f o r d H el A J a n e s v ille 1st f
t f l l n t a t C o n t . & C o m . T r & S a v . B k ., C h ic ..
m t g e ft ( $ 1 .0 0 0 1 s f
* **
M
T r u s t e e , o r F ir s t N a t . B a n k . N e w Y o r k
D e K a lb -S y c a m o r e & I n te r u r b a n T r a c . C o .—
T
. -
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p ^ n u A
Pe$ t 5 &
$200,000
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Itl& s C o
1st & R e f (
6 g M -S
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See tex t M a r
N . Y „ and F .
Is o w n e d
b y C ora.
P o w ., R y .
V D iv id e n d s — 5 % h a s b e e n r e g u la r ly p a id o n p r e f . s t o c k s in c e o r g a n i z a t io n .
P ^ R T . - F o r years^ en dm g Ju n e 3 0 ^ ^
, . . O W ? ? B
1 9 1 7 -1 8
$1 286 08 9
$ 3 4 3 ,7 1 0
$ 2 2 6 ,8 8 1
$ 1 0 0 ,0 0 0
$ 1 6 ,8 2 9
1 9 1 6 -1 7 * 1
1 3 0 3 .0 9 0
4 3 7 ,9 3 7
2 1 1 ,1 4 1
1 0 0 ,0 0 0
1 2 6 ,7 9 6
K O AD AC
- 2 8 4 8 m i l l s d o u b le a n d 1 0 .8 0 m ile s s in g le t r a c k t o t a l s in g le ,
t r a c k e q u iv a le n t . 0 7 9 6 m ile s
1 5 3 p a s s e n g e r a n d 2 7 r a is e a n d s e r v i c e c a r s .
2 p le a s u r e p a r k * . A c .
P o w e r la o b t a i n e d f r o m
C on su m ers P ow er C o .
1902
5 F -A 15
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I n t. a t M e r c h a n t s ’ L o a n & T r u s t G o .. C h ic
1917
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an*d $ 5 0 0 . 0 0 0 > r e f . s t o c k
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19 F a r w .— O n J u n e 3 1 9 1 8 a p p lie d t o t h e C i t y C o m m is s io n fo r a u t h o r it y
t o In cre a se fa re s fr o m 5 c e n ts t o 6 c e n ts .
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S t o c k c o m $ 2 , 0 0 0 , 0 0 0 S 1 0 0 ) ..............................- - - —
000
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c ‘ h n t tn N ? Y . B a n k e r s T r u s t C o N Y . . t r u s t .
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e n la r g e m e n t s a n d a d d i t io n s , w h e n a n n u a l n e t e a r n in g s a r e t w ic e t h e t o t a l
l n t e r a t c h a r g e , I n c lu d in g b o n d s p r o p o s e d t o b e I s s u e d .
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w h o le , a t 10014 a n d in t . J u n e 1 o r D e c . 1 1 9 1 8 .
T a x - e x e m p t In M i c h i g a n .
E l M
O oW l(r tM I 1903
5 J -J
2 .5 0 0 .0 0 0 J a n
1 1923
0 1 S i.0 0 0 ) -u V lB a n k e ™ T r u s t 0 ° ..N e w Y % k T ru ste e .
1913 5 g A -O
4 ,2 8 3 ,0 0 0 A p r il 1 1 9 4 3
B an kers T ru s t C o ., N ew Y o rk . T ru ste e .
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000)
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& O R G A N I Z A T I O N . A C . — I n c o r p . i n M i c h i g a n in A p r i l 1 9 0 0 a s a s u c
c e s s o r c o m p a n y t o th e C o n s o lid a te d S t. R y .
O w n s a n d o p e r a te s th e e n tir e
s tr e e t r a ilw a y s y s t e m o f G r a n d R a p id s a n d v i c in it y .
F r a n c h is e ? e x p ir e in
1 1947
N . B.
under
s a t is fa c t o r y
lo n g -t im e c o n t r a c t .
v
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l». CL C odd ,
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I,. J . D e L a m ™ t e ?
O ffic e . G r a n d R a p id s
M ic h .-V . 95.
p . 891; V . 100, p . 5 5 5 , 1672; V . 103, p . 144; V . 106, p . 3 9 5 . 499.
K v a n s * v 1! 1 r ' e I* I t t * ° m t g e f 1 9 0 1
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1 , 1 9 0 . 0 0 0 M a y \8 i I I I
*1 2 0 0 0 0 0 8 $ 1 , 0 0 0 ) , c * t f ) I n t . a t F a r m e r s ’ L . & T r ( ’ o . , N . Y . t r u s t e e
K v V n s v & IT In ce 1st m t f e f 1903
5 g A -O
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* 4 0 0 0 0 0 g o l d ( $ 1 . 0 0 0 ) 8l n f e -( I n t . a t O l t . S a v . A T r ( ' o . . ( ' l o r e . . T r u s t e e
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c A r ..t f I
o r a t F ir s t N a t i o n a l H a n k N e w Y o r k
K v L m v O a s & E l L t 1 s t * re ff 1902
5 J -D
1 ,1 9 0 ,0 0 0 J u n e 1 1 9 3 2
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F a r e I n c r e a s e — In J u ly 1 9 1 8 w a s a u t h o r iz e d t o c h a r g e a 6 -c e n t fa r e
In S a g in a w . V . 1 0 7 , p . 5 0 2 .
rtT O C K A N D B O N D S —
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In ter es t.
O u ts ta n d in g
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R y A L t. O o .
1910
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B o n d s — T h e U n i o n R y , G a s A E l e c . c o l l , t r u s t m t g e Is s e c u r e d b y d e
n o s l t o f p r a c t i c a l l y a ll s t o c k s ( c o m . A p r e f . ) o f s u b s i d i a r y c o s
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m a y b e Issu ed o n ly u n d e r r ig id r e s t r ic t io n s (V 8 0 p 2 2 0 ).
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ls ° p a y a h le a t H o d e n p y l H a r d y A C o . . N . Y . . a n d E . W < la r k A C o . , 1 h lla
B o n d s r e d e e m a b le at p a r A In t. o n 6 0 d a y s ’ n o t ic e .
T h e y a re c o n v e r tib le
In to p re f s to ck at o a r .
V . 89, p . 220; V . 93. p. 628.
T h e 3 y ea r n otes
a r e s e c u r e d h v b o n d s o f th e U R y . O A E C o . a n d u n d e r ly in g c o m p a n ie s ,
a g g r e g a tin g
$ 4 ,0 0 0 ,0 0 0 .
R e d . a t 1 0 0 )4 a n d
In terest on
O ct. 1 1918.
I n t e r e s t p a y a b l e a t o f f i c e o r a g e n c y o f c o m p a n y In N e w Y o r k .
B an kers
T r u s t C o ., N . Y ., tru ste e .
A d d i t io n a l n o t e s m a y b e is s u e d w it h c e r t a in
r e s t r ic t io n s .
See V . 102, p . 1541.
^
S v r i n a f i e l d R a i l w a y «*. L ig h t S e c u r i t i e s — Of t h o S p r i n g f i e l d R a i l w a y A
L t g n t c o ll a t e r a l t r u s t m o r t g a g e o f 1 9 0 3 . $ 1 2 .8 .0 0 0 a r e r e s e r v e d f o r a d d i
t io n s a n d I m p r o v e m e n t s t o c o n s t it u e n t c o m p a n ie s a n d $ . 5 0 .0 0 0 fo r p r io r
H ens.
T h e b o n d s a re s u b je c t t o c a ll o n 6 0 d a y s
n o tic e a t 10714 a n d
In t
I n t e r e s t Is p a y a b l e a t C o l u m b i a T r u s t C o . , L o u i s v i l l e , a n d a t t l o d e n n y l. H a r d y A C o .. I n c ., N
Y . a n d E . \V. C la r k & C o . , P h ll a .
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R y . b o n d s Is p a y a o l e a t F i d e l i t y a n d C o l u m b i a T r u s t
c o s .. L o u is v ille a n d a t H o d e n p y l, H a r d y A C o .. I n c .. N Y
R o c k fo r d A
I n te r u r b a n R y . S e c u r it i e s .— S in k in g fu n d o n
R o c k fo r d A
I n t e r - U r b a n b o n d s o f 6 % o f g r o s s r e c e i p t s c o m m e n c e d In 1 9 0 8 .
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0 0 0 o f b o n d s In a d d ' n t o . t h o s e r e p o r t e d o u t s t a n d i n g a b o v e a r e h e l d in t h e
s i n k . T d.
A d d 'l b o n d s c a n b e Iss u e d f o r e x t e n s io n s a n d I m p r o v e m e n t s a t
8 5 % o f cost.
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R o c k fo r d A F r e e p o r t b o n d s a re a s s u m e d , p r ln . A i n u , b y th e R o c k fo r d A
I n t o r - U r b a u R a i l w a y C o . ; $ 6 1 , 0 0 0 a r e h e l d In s i n k f u n d .
A s in k in g fu n d
4 q u a l t o 5 % o f g r o s s e a r n i n g s b e g a n In 1 9 1 0 B o n d s a re s u b je c t t o c a ll
at 105 a n d In te re st.
V
78. p. 1270.
A s in k in g fu n d o n th e R o c k fo r d
B e l o i t A J a n e s v i l l e b o n d s b e g a n In 1 9 1 5 o f 2 % o f g r o s s e a r n i n g s o f t h a t
d iv is io n .
T h e y a re s u b je c t t o c a ll a t 1 0 2 )4 a n d In te r e s t. ] h e v a re g u a r
a n t e e d p . & I . , b y t h e R o c k f . A I n t e r - U r b a n . $ 1 5 , 0 0 0 In s . f . S o p t . 1 1 9 1 8
D e K a l h - S u c a m o r e E l e c t r i c . . $ 1 1 5 , 0 0 0 In s i n k i n g f u n d .
C e n tr a I I l l i n o i s L ig h t C o . S e c u r i t i e s .— P e o r ia G a s A E l e c t r i c b o n d s a r e s u b
je c t t o c a ll a t 1 0 5 a n d I n t .
I n t . t h e r e o n Is p a y a b l e a t H o d e n p y l , H a r d y A
C o . I n c .. N
Y .
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S in ic in a f u n d m a y b e u s e d b y c o m p a n y f o r a d d i t i o n s t o p r o p e r t y a g a i n s t
w h ic h n o b o n d s h a v o b e e n Issu ed
O f C itiz e n s ' G a s A E le c t r ic b o n d s
$ 4 0 0 0 0 h a v e b e e n r e t ir e d t h r o u g h s in k in g fu n d
C e n t r a l I llin o is L ig h t
b o n d s are re d a t 105 a n d a c c r u e d In t. o n 0 0 d a y s n o t ic e .
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b o n d s $ 2 ,6 0 0 ,0 0 0 a re r e s e r v e d t o r e t ir e P e o r ia G a s A E le c t r ic 1st M
5s
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p ro p e rty
a d d i t i o n s , in a p t *
A c . u n d e r c e r ta in
r e s tr ic tio n s (V 9 9 p 1 1 3 2 )
S i n k i n g f u n d o f Vi o f 1 % p a
b e g in A p r il 1
1 9 1 7 o f t o t a l a m o u n t o f b o n d s o r t h i s I s s u e o u t s t a n d i n g a n d a ll u n d e r l y i n g
I s s u e s f o r t h e ^ u r c h a s e ^ o f t h e a a b o n d s ( o r c a l l a t 1 0 5 ) o r T or a c q u i s i t i o n s
5 g F -A
6 4 4 .0 0 0 F e b
I 1920
S augtiin a w V a lr i - r h s t m . » u o u ..-- i 1 8 9 9
n aw v a T r 1 i M
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0 0 0 g ( $ 1 , 0 0 0 e a c h ) . c * n tf' I n t . a t B o s t o n S a f e D e p A l r ‘ " - . T r u s t e e .
B o n d s .— O f t h e 1st A r e f b o n d s . $ 8 5 0 ,0 0 0 a r e r e s e r v e d t o r e t ir e S a g V a l
T r a c b o n d s ; r e m a in d e r fo r 8 5 % o f c o a t o f a d d it io n s . A c
R ed on a n y In t.
d a te o n 6 0 d a y s ' n o t ic e a t 105 a n d I n t.
I n t . a t H o d e n p y l. H a r d y A O o .,
5 0 0 0 ,0 0 0
t m f > u b H * < t i H H e s C o . S e c u r i t i e s . — $ 3 . 9 5 1 .0 0 0 1 s t A R e f . M
b
bonds duo
M a r . 1 1 9 4 7 h a v e b e e n I s s u e d , o f w h i c h $ 2 , 6 0 7 , 0 0 0 a r e In t r e a s u r y a n d
$ 1 ,2 8 4 ,0 0 0 a re o w n e d b y th e U n io n R y ., G a s A E le c t r ic C o .
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a r e r e s e r v e d f o r p r io r lio n s .
A d d i t i o n a l b o n d s m a v b o is s u e d f o r 7 5 %
o f c o s t o f a d d it io n s , e x te n s io n s , A c .
In te r o st a t H o d e n p y l, H a r d y A C o .,
N
Y .
C a l l a b l e o n a n y I n t e r e s t d a t e a t 1 0 5 .a n d I n t e r o s t .
T h e E vans
v ille G a s A E le c t r ic L ig h t C o . m u s t c a ll a t 1 0 5 a n d In t. $ 1 0 ,0 0 0 a n n u a lly
o n J u n e 1 1 9 1 3 t o 1 9 2 2 I n c lu s iv e , a n d $ 1 5 ,0 0 0 o n J u n e l 1 9 2 3 t o 1 9 3 2 I n c lu
s iv e ; $ 0 0 ,0 0 0 h a v e b e e n r e t ir e d .
T h e y a r e s u b je c t t o c a ll a t 1 0 5 a n d In
te re s t.
T h e E v a n s v i lle A P r in c e t o n fir s t 5 s h a v e a s in k in g f u n d o f $ 1 0 ,0 0 0
n e r a n n u m , w h i c h b e g a n F e b . 1 1 9 0 8 , s a i d f u n d t o b e I n v e s t e d In t h e b o n d s
a t 1 0 5 , b e g in n in g w it h N o . 1 .
$ 6 0 ,0 0 0 h a v e b e e n r e d e e m e d .
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Issu e o f th e s e b o n d s m a y b e c a lle d a t a n y tim e a t 110 a n d In t.
L . W . P r io r
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c a n n o t h e c a lle d .
D iv id e n d s .— F ir s t d l v . , 1 ) 4 % . o n p r e f. p a id O c t . 1 9 0 9 a n d s a m e a m o u n t
a u a r . s in c e t o a n d I n c lu d in g J u ly 1 9 1 8 .
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A p r il 1 1 9 1 3 ; J u ly 1. 1 % : O c t .. 1 % .
In 1 9 1 4 . J a n .. 1 % .
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A L t . C o . o w n s p r a c t i c a l l y a ll t h e s t o c k a n d d l v s . n o l o n g e r m a d e p u b l i c
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R O A D . — R o c k f o r d A I n t e r u r b a n o p e r a t e s 3 6 .2 8 m . o f t r o l l e y In R o c k
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J a n e s v ille , W i s .; a ls o a 2 .8 9 -m ilo e x t e n s io n t o C a m p
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1 1 4 .8 6 m ile s .
S p r i n g f i e l d R y . A L i g h t C o . o p e r a t e s 4 3 .2 9 m il e s In S p r i n g
fie ld .
J a n e s v i l l e T r a c t i o n C o . o p e r a t e s 5 m ile s In J a n e s v i l l e , W i s . . a n d
D o K a lb -S y c a m o r o A I n t e r u r b a n T r a c t io n , 8 m ile s , c o n n e c t in g D o K a lb a n d
S y c a m o r e , 111.
P u b lic U t ilit ie s C o . o p e r a t e s a b o u t 6 9 m ile s In E v a n s v i lle
a n d b e tw e e n E v a n s v ille , P r in c e t o n a n d P a t o k a , I n d .
O F F I C E R S . — P r o s ., G . E . H a r d y ; V .- P s ., C . M . C la r k a n d B . C . C o b b S e c . A T r e e s ., J a c o b K e k m a , N e w Y o r k .— V . 1 0 4 , p . 2 3 4 3 ; V . 1 0 6 , p . 0 0 8
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S p r i n g f ie l d (O .) L ig h t . H e a t & P o w e r C o .
E n t i r e c a p i t a l s t o c k is o w n e d b y C o m . P o w . , l t y . & L t . C o .
O R G A N I Z A T I O N .— I n c o r p o r a t e d In M a in o in A u g . 1 9 0 8 .
e x te n d b e y o n d m a t u r it y o f b o n d s .
STO CK AN D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
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D a te.
In ter es t.
$ 3 .1 7 5 9 ) )
......................C o m m o n s t o c k — . . . ---------------------------2 .7 5 ) 300 O st
18 . 1 )4
P r e f e r r e d 6 % c u m u u al u T i v e . ^ . . . . . .
u m i a to
R Q -J g
0
.
1 ,8 3 3 .0 0 0
M ar 1 1946
1st A r e f M
g o ld
($ 1 ,0 0 0 .T ru stee.
U n io n T r u s t C o .. D e t r o it
$ 5 0 0 a n d $ 100) - - - - - C »
_________ _
367 500 Ju n e 1 1920
1900
5 b J -D
B a y C i t y G a s 1s t M . $ 5 0 0 , 0 0 0
In te re st a t N eW Y o r k T r u s t ( ’o
T ru stee.
g ( $ 5 0 0 A $ 1 . 0 0 0 ) ----- c * t f
1904
5 M -N
4 9 3 ,5 0 0 N o v 1 1 9 2 4
In
F lf n t G a s O o 1s t M . $ 5 0 0 , 0 0 0
R ap
T ru stee.
( $ 5 0 0 A $ 1 ,0 0 0 ) .
c * n t f In t a t M ic h . T r C o .. G rd
1897
5 A -O
3 4 0 .0 0 0 A p r il 1 1 9 3 7
J a c k s o n G a s C o m t g e . $ 3 5 0 .
C h ic
T ru stee.
0 0 0 g o l d ( $ 1 ,0 0 0 )
c » n t f Illin o is T r u s t A S a v . B a u k
1900
5 J -J
3 8 S .0 0 0 J a n
1 1920
K a l G a s C o 1st M . $ 4 5 0 0 00
In t a t M ic h . T r u s t C o . G r d
Rap
T ru stee.
( $ 1 . 0 0 0 ) .......................... c * n t f
1902
5 J -J
1 7 9 0 O0 J a n
1 1927
P o n t i a c L i g h t C o c o n s o l ,u tw e
m g
* 2 3 0 0 0 0 « ($ 1 0 0 0 '
c * t f ’ In t, a t M i c h . T r u s t C o
G rd
Rap
T ru stee
B o n d s - 4 1 , 7 6 3 . 0 0 0 1 st A r e f. M . b o n d s a r e r e s e r v e d t o r e t ir e p r io r lie n s ,
A d d it io n a l b o n d s m a y b e Iss u e d f o r 7 5 % o f c a s h c tjs t o f p e r m a n e n t e x t s .
A c ., u n d e r c o n s e r v a t iv e r e s t r lc t lo n s .
R w i. a t 105 A In t o n a n v In t d a t e
o n 3 0 d a y s ' n o t i c e ; t a x - e x e m p t In M i c h .
V
102. p. 613. 890
n a y i ity
a n d J a c k s o n b o n d s a re red a t 110 A l o t .
K aU m w oo
P o n t ia c a n d F lin t
ItH n es a r e r e d . a t 1 0 5 A I n t .
I n t . o n J a c k s o n G a s C o . b o n d s Is p a y a b l e a :
o ^ r V r * ^ a v e ^ b e e n p a id r e g u la r ly s in c e o r g a n iz a t io n .
E A R N I N G S . — F o r 12 m o s . e n d in g D e c . 3 1 :
C h a rges.
S u r p lu s .
Y ea r—
G ross.
E xp . A T axes.
N et
$ 1 5 5 ,1 7 5
$ 4 0 3 ,8 2 9
l y S A L E S .— C a l. y e a r 1 9 1 7 . 1 .9 1 6 .2 7 8 .4 0 0 c u . f t .
T
O F F I C E R S .-P r e e ..
A
K e n n e y Sec
J
613, 890; V .
M U e s o f m a i n s , ;r> 3 3 .
B . C . C o b b . N . V . ; Y ‘ £ 8 " a .W
' ,B H rv
n> n
K . S w a n s o n ; T r e a s ., A . B . S lm o n e a u .— V . 1 0 2 . p .
106, p . 402. 1039.
(7 )
C on su m ers’ Pow er C o.
„
A l l t h e c o m m o n i t i y k Is o w n e d b y C o m . P o w . . R y A L t . C o
O R O A N I Z A T I O N — I n c o r p . In M a i n e I n 1 9 1 0 . a n d I n N o v . 1 9 1 4 m e r g e d
th e fo llo w in g II c o m p a n ie s
D re v lo u s ly c o n t r o lle d b v s t o c k o w n e r s h ip )
C om m onw
P o w e r C o .. G r a n d R a p id s -M u s k e g o n P o w e r t o
G r a n d R a p id s
K d ls o n C o
F lin t E le c
C o . S a g in a w P o w e r C o . B a y O lt ) P o w e r O o . .
P o n t ia c P o w e r C o ., C o n s u m e r s ' P o w e r C o . ( M i c h .) . E c o n o m y P o w e r C o ..
An
K I# *otric C o a n d C e n t r a l P o w e r O o .
A V h i s m e r g e r m a d e th e C o n s u m e r s ’ P o w e r C o . ( o f M a in e ) a n o p e r a t in g
c o m p a n y I n s t e a d o f a h o l d i n g c o m p a n y a n d o n J u l y 2 0 1 9 1 5 i t wars g r a n t ^
a c e r t if i c a t e o f a u t h o r it y t o d o b u s in e s s In M ic h i g a n . V . 9 9 . p . l o 2 8 , 1 5 9 7 ,
v
101 p C3 0 9 .
A t th e s a m e t im e th e R R . C o m m , a p p r o v e d th e th e n
o u t s t a n d i n g I s s u e s o f c o m m o n a n d p r e f e r r e d s t o c k s a n d 1s t b e n a n d r e f .
5 % b o n d s a n d a u t h o r iz e d t h e c o m p a n y t o is s u e a d d i t io n a l b o n d s f r o m t im e
t o t im e u p o n p r o c u r e m e n t o r r e t ir e m e n t o f t h e u n d e r ly in g b o n d s s h o w n In
t h ! n aj a n
T o i 6 a c q u ir e d ' th e C a d illa c
°
W a ter
A
L t.
C o. and
th e
e le c t r ic
t e a s e d f r o m $ 1 2 ,0 0 0 ,0 0 0
c o m m o n a n d $ 1 0 , 0 0 0 ,0 0 0 p r e f e r r e d t o $ 2 0 , 0 0 0 ,0 0 0 o f e a c h c l a s s .
S T O C K A N D BONDSD a le.
I n ter es t.
O u ts ta n d in g .
M a tu rity .
C o m m o n $ 2 0 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ..................
i s Y i l e n a r id r e f M , $ 3 5 , 0 0 0 .
0 0 0 , g o l d ( $ 1 . 0 0 0 ) -------- c * t f
2 - y e a r s e c u r e d n o t e 6 $ 4 ,0 0 0 ,
0 0 0 ( $ 1 , 0 0 0 ) .............................. c *
^ T i|:K?S.‘fa
r
- - - - - - -
O c t " rf s " i ) 4
T r u s te e , o r H a r r is . F o r b e s A C o ., N . Y .
1917
6 g J -J
4 .0 0 0 .0 0 0 J u ly 1 1 9 1 9
I n t . a t H a r r is T r u s t A S a v . B a n k , C h ic a g o ,
T r u s t e e , o r H o d e n p y l , H a r d y A ’ ., N . Y .
Sept ., 19'8.]
STOCK AND BONDS— Dale.
Interest. Outstanding.
M aturity.
Oomiu Bow 1st Vi, 5i.UOO.-f 1904 5 J-D
St.u80.00u Dec 1 1924
000 g sink fU (S1.000)_c*tflin t, at First T ru st* Sav Bk.. Chic.. Trustee
Grd Rap-Musk Pow 1st M l 1900 5 M-S
587,000 Mar 1 1931
$7 500 000. gold_______t flln t. at 1st Tr.AS.B., Chic., or lstN .B ..N .Y
Cadlilac W A Lt 1st M,$200,-l 1905
6 M-S
133.500 Sept. 1 1926
000 ($600 & $1,OO0)--C*tfJ Int. at Mich. Tr. C o.. Grd Kap.. Trustee
Stock.— Pref. stock is rod. ou and after Jan. 1 1920 at 105 and accr. div.
Bonds.— Of 1st & ref. bonds, sufficient are reserved to retire underlying
bonds. *5.334.000 aro deposited as security for the *4,000.000 2-year 0%
secured notes and remainder is reserved under certain restrictions for exton.
and add'ns at 80% of cost. SubJ. to call any int. day at 105 * Int. Sink,
fund of 1% p. a. or bonds out began Jan. 1 1915. V. 92. p. 465, 526, 1458.
Up to July 31 1918 no bonds were hold in sinking fund.
Two-yoar gold notes aro secured oy deposit of $5,334,000 Consumers’
Power Co. 1st Lien * Bef. M . bonds. Callable on 4 weeks’ notice at 101 H
and int. prior to July 1 1918, and at 100H and int. thereafter. V. 105, p.
1106. 1208.
. . .
.
,
Dividends on pref. have been paid regularly since organization.
EARN INGS.— For 12 mos. ending Juno 30:
Year—■
Gross.
49
ELECTRIC RAILWAYS
E xp.AT axes.
Net.
Charges. Bal., Surp.
1917-18.............. *6,072,647 *3,507,139 *2,565,508 *1,125,261 *1,440,247
1916-17________ 5*244^563 2,764,499 2,480,064
904,067 1,575,997
P R O PE R T Y .— Owns and operates electric light and power proper
ties In Grand Rapids, Kalamazoo, Jackson, Flint. Saginaw, Bay City.
Pontiac. Battle Creek, Muskegon, Cadillac, Owosso, Manistee, Marshall.
Albion, Charlotte, Grand Lodge, Allegan, and a number of intermediate
cities and towns, llvdro-oloctric plants have about 106.000 h. p. and steam
plants about 103,000 h. p. capacity. Total generating capacity about
^ O F l’ lC EIt's.— Pres., B. C. Cobb. New York; V .-P ., E. W. Clark, Phila.;
V -P Geo. E. Hardy, N. Y .; Treas. & Sec., Jacob Hekma, N. Y .— V. 104,
p. 2552; V. 105, p. 610, 1106, 1208; V. 106, p. 399; V. 107, p. 699.
(8 ) Manistee Railway Co.
Incorp. In Mich. In March 1913. Successor to Manistee Lt. & Trac.
C o., sold at foreclosure in 1912. The Manistee Pow. & Lt. Co. then took
over the gas and electric properties but In Jan. 1916 these were respectively
acquired bv the Michigan Light Co. and the Consumers’ Power Co.
Does the street railway business In Manistee and Filer City. Franchise
30 years from 1904.
.
, „ ,„
Fare Increase.— In May 1918 fares were increased to 10 cents, with
commutation tickets at 3 for 25 cents and 7 for 50 cents.
Stock —The company's entire *100,00U capital stock and $60,000 1st
mtge 5 s duo 1943. are owned by the Com. Pow., Ry. & Light Co.
ROAD.— Operates 7.64 miles of track. Gauge 4 rt. 8 H In. 35 to 100
h T and 85-lb. girder rails. Operates a 50-acre park on Lake Michigan.
O F F IC E R S .— Pres-.'O. J. Holmes; V.-P.. W. H. Barthold; Sec.. G. B.
Dobbin; Treas., J. W. Glendenning.— V. 8 8 , p. 158; V. 106, p. 2229.
UNITED LIGHT & RAILW AYS CO.— (See Map. page 48 )
ORGAN IZATION .— Incorporated in Maine in July 1910, per plan In
V. 91, p. 96. Owns over 98% of the common stocks, over 2214% of the
pref. stocks and over 29% of bonds and notes of the following companies:
Cadillac (Mich.;
La Porte (ind.) Gas & Elec. Co.
C a d i l l a c ( M i d i , Gas Light Co.
_
M a s o n C it y & C le a r L a k e ( l a . ) I t R .
C h a t t a n o o g a ( T e n n .) G a s C o
O ttu m w a (la .) G a s C o .
C e d a r R a p id s ( l a . ) G a s C o .
C e d a r R a p id s & M a r io n C i t y R y . C o . P e o p le ’ s G a s & E le c . C o . , M a s o n O ’ y .
F o r t D o d g e ( l a .) G a s A E le c t r ic C o . T r i- C i t y R a ilw a y & L ig h t C o .
G r a n d R a p id s G r a n d H a v e n & M u s
k e g o n (M ic h .) R y . C o .
T h e G r a n d l t a p i d s - O r a n d H a v e n A M u s k o g o n R y . w a s a c q u i r e d In J a n .
1912; V . 94 , p . 209.
T h e T r i - C i t y R y . * L i g h t C o . w a s t a k e n o v e r in J u n e
1912; V . 94, p . 769.
T h e C e d a r R a p id s & M a r io n C i t y R y . C o . w a s
a c q u ir e d In J u ly 1 9 1 2 .
In F e b . 191 3 p u r c h a s e d th e P e o p le ’s G a s & E le c t r ic C o . a n d th e M a s o n
C lt v & C le a r L a k e R R .
I n 1 9 1 3 a ls o a c q u ir e d th e I o w a & I llin o is R y .
a n d t h e I o w a & 111. R y . T e r m . C o . , b u t I n J a n . 1 9 1 6 t h e s e t w o c o s . w e r e
c o n s o lid a t e d w ith t h e D a v e n p o r t & M u s c a t in e R y . (fo r m in g t h o C lin t o n
D a v e n p o r t & M u s c a t in e R y .) u n d o r th e m a n a g e m e n t o f th e T r i-O l t y R y .
& L ig h t C o
O P E R A T I O N S . — D o e s e n t i r e g a s b u s i n e s s In D a v e n p o r t , C e d a r R a p l d a
(s u p p ly in g a ls o s u b u r b s o f M a r io n a n d K e n w o o d P a rk a n d I n te r v e n in g
te r r ito r y ). F t. D o d g e . Io w a C it y , M a s o n C it y , B e tte n d o r f, O ttu m w a an d
M u s c a t in e , la .; C a d illa c , M ic h ., L a P o r t e , I n d ., R o c k I s la n d , M o lin e ,
E a s t M o l i n e , M i l a n , S i l v i s a n d W a t e r t o w n , 111.; a n d C h a t t a n o o g a , T e n n . ;
e n t i r e e l e c t r i c - l i g h t a n d p o w e r b u s i n e s s in D a v e n p o r t , F t . D o d g e , I o w a
C it y . M a s o n C it y a n d M u s c a t in e , la .; R o c k Isla n d , M o lin e a n d E a s t
M o l i n e . I I I ., a n d L a P o r t e , I n d .
H a s h o t w a te r a n d s t e a m -h e a tin g s y s te m
In D a v e n p o r t a n d M a s o n C i t y , l a . , a n d L a P o r t e , I n d .
O p e ra te s stre e t
r a i l w a y s in C e d a r R a p i d s , M a r l o n , M a s o n C i t y , M u s c a t i n e a n d D a v e n p o r t ,
l a . , a n d R o c k i s l a n d . M o l i n e a n d E a s t M o l i n e , 111.; i n t e r u r b a n r a i l w a y s
a r e o p e r a te d b e tw e e n C e d a r R a p id s a n d M a r lo n , l a .; M a s o n C it y a n d
C le a r L a k e , l a .; D a v e n p o r t a n d C lin t o n , la ; D a v e n p o r t a n d M u s c a t in e .
I a . : D a v e n p o r t , l a . , a n d R o c k I s l a n d , M o l i n e a n d E a s t M o l i n e , I I I ., G r i n d
R a p id s . G ra n d H a v e n a n d M u s k e g o n , M ic h .
In a ll . 5 5 c o m m u n it i e s , w ith
a p o p u la t io n e s t im a t e d a t 5 7 5 ,0 0 0 a r e s e r v e d .
F r a n c h is e s e x p ir e fr o m
1 9 2 0 t o 1 9 6 0 ; a p p r o x im a t e ly 7 3 %
a r o in d e t e r m in a t e o r e x t e n d b o y o n d
^ I n N o v . 1 9 1 7 I s s u e d * 1 ,5 0 0 , 0 0 0 6 % B o n d S e c u r e d G o l d N o t e s , s e r ie s
" A , ” t o r e tir e * 7 5 0 ,0 0 0 6 % n o t e s m a t u r in g J a n . 1 1 9 1 8 a n d t o r e im b u r s e
th e tr e a s u r y fo r a d d it io n s , e x te n s io n s a n d Im p r o v e m e n ts .
V . 105. p. 2185.
I n A u g . 1 9 1 8 is s u e d * 1 .2 5 0 ,0 0 0 7 % s e r ie s “ B " n o t e s t o p r o v i d o f o r , o r
r e im b u r s e th o c o . fo r a d d it io n s , e x te n s io n s a n d im p t s ., o r fo r a c q u is it io n
o f now p rop erty .
V . 107, p . 605.
K a l e s .— T h o c o . h a s a p p l i e d f o r i n c r e a s e s i n r a t e s c o v e r i n g a l l c l a s s e s o f
s e r v ic e a n d in J u ly 1 9 1 8 h a d a lr e a d y s e c u r e d in c r e a s e s t h a t w ill a d d a b o u t
* 3 0 0 ,0 0 0 t o a n n u a l g r o s s e a r n in g s .
T r a n s f e r A g e n c i e s .— S t o c k t r a n s f e r a g e n c i e s a r o m a i n t a i n e d I n N e w Y o r k ,
p i C h i c a g o a n d in G r a n d R a p i d s .
S ee V . 9 7 . p . 1358
S T O C K A N D B O N 1 J S .D a te .
O o m r n o n $ 1 2 ,5 0 0 ,0 0 0 ($ 1 0 0 ).
1st p r o f $ 1 2 ,6 0 0 ,0 0 0 ($ 1 0 0 )1
6 % c u m ________________________ f ---------F i r s t ___ ___________e ___ o l d ( $ 1 0 0 , ( 1 9 1 2
g
____ & r e f m t g
.
_____
In ter es t
Q -J
Q -J
6
_ g J -D
_
O u tsta n d in g
M a tu rity
* 6 ,8 7 7 ,5 0 0
O c t ’ 1 8 ,1 %
1 0 ,1 3 2 ,0 0 0
8 ,6 8 7 ,1 0 0
O c t '1 8 . 1 H
J u n e 1 1932
$500 A *1 ,0 0 0 )------c*A r t flN e w Y ork Trust C o ., N . Y ., Trustee.
O o n v d e b e n t u r e s g o ld ($ 1 0 0 .1 1 9 1 6
6 g M -N
2 0 0 0 .0 0 0 N o v
11926
$ 5 0 0 . $ 1 .0 0 0 . A c ) . _ c * A r * t f I I n t . a t N e w Y o r k T r . C o . . N . Y . , t r u s t e e .
N o t e s ( c lo s e d ) ($ 1 ,0 0 0 . $ 6 0 0 1
1915
0 g J -J
1 ,5 0 0 .0 0 0 J a n
11920
& * 1 0 0 ) g o l d ........................ _ c * ( I n t e r e s t a t N o w Y o r k T r u s t C o . , t r u s t e e .
S e c u r e d n o t e s .s o r " A ” (S 1 0 0 c :f 1 9 1 7
6 g M -N
1 ,7 5 0 .0 0 0 M a y 1 1 9 2 0
* 5 0 0 & 1 ,0 0 0 c * ) g o ld — t f l l n t . a t N o w Y o r k T r u s t C o . . N e w Y o r k .
S ecu red n o te s, ser. “ B ” (* 1 0 0 /
1918
7 g A -O
1 ,2 5 0 ,0 0 0 A p r
11923
* 5 0 0 A * 1 . 0 0 0 ) . ............._ . c * t f ( N o w Y o r k T r u s t C o . , N . Y . , T r u s t e e .
C h a t t a n o o g a G a s fir s t m t g e f
1907
5 J -J
5 4 1 .0 0 0 J a n
1 1927
$ 1 ,5 0 0 ,0 0 0 g ( $ l , 0 0 0 ) . c * t f I n t . a t C o n . & C o m . T r . & S a v . B k .. C h i c .,
I
T r u s t e e , o r F ir s t N a t . B a n k , N o w Y o r k .
O h a t t G a s C o p f s t o c k ( $ 1 0 0 ? ----------------6
Q uar
5 0 0 , 0 0 0 ...........................
P e o p le ’s G a s & E l G e n M t g o l
1906
6 A -O
3 7 0 ,0 0 0 A p r il 1 1931
(1 3 3 % ) 1st & re f. 5s.
S e r ie s “ B ” o f 1 9 1 8 a r o s e c u r e d b y 1 s t A r e f .
5 s in lik e r a t io .
A d d i t io n a l b o n d s o f t h e s e o r s u b s e q u e n t s e r ie s m a y
b o c e r t ifie d o n l y u p o n d e p o s it o f a d d it io n a l 1 st A r e f. 5 s in t h e s a m e
r a t io .
S u b s e q u e n t s e r ie s m a y n o t m a t u r e e a r lie r t h a n M a y 1 1 9 2 0 , n o r
la te r th a n N o v . 1 1 9 2 7 .
P r o c e e d s f r o m s a le o f a d d it io n a l n o te s m a y b e
u se d fo r a d d it io n s , A c ., a n d fo r a c q u is it io n s .
N o te s o u ts ta n d in g a t a n y
o n e t im e n o t t o e x c e e d * 5 ,0 0 0 ,0 0 0 .
C o . w ill p a y n o r m a l F e d e r a l in c o m e
t a x n o t in e x c e s s o f 2 % ; P a . 4 -m ill t a x r e f u n d e d .
S e r ie s “ A ” n o t e s r e d . ,
a ll o r p a r t , a t 1 0 0 J 4 a n d in t . o n 4 w e e k ’s n o t ic e .
V . 105, p . 2185.
S e r ie s
“ B ” a r o r e d . a l l o r in p a r t o n a n y i n t . d a t e a t 1 0 1 a n d i n t . p r i o r t o O c t . 1
1 9 2 0 , a t 1 0 0 J4 a n d i n t . t h e r e a f t e r t o O c t . 1 1 9 2 2 a n d t h e r e a f t e r a t 1 0 0 a n d
in t .
V . 107, p . 605.
D e b e n t u r e s .— T h e d i r e c t o b l i g a t i o n o f t h e c o .
N o m ortg a g e m a y b e cre
a t e d J u n io r t o t h e 1 s t & r e f . M . w i t h o u t e q u a l l y s e c u r i n g t h e d e b s .
A t no
t i m e s h a ll t h e r e b e o u t s t a n d i n g d e b s , in e x c e s s o f 7 5 % o f t h e t o t a l o f 6 %
p r e f. s to c k o u ts ta n d in g .
N o f u r t h e r d e b s , m a y b e is s u e d u n le s s e a r n s ,
a v a ila b le fo r In te r e s t c h a r g e s arp 3 tim e s t h e r e q u ir e m e n ts o n th e d e b .
th e n o u t s t a n d in g . I n c l. t h o s e a p p lie d fo r a s w e ll a s t h e In t. u p o n a n y u n
secu red d e b t.
T h e y a r e c a lla b le , a ll o r p a r t , u p o n 4 w e e k s ' n o t ic e t o N o v . 1
1 9 2 1 a t 1 0 2 a n d I n t ., a n d t h e r e a ft e r a t 101 a n d I n t.
C o n v e r tib le u p o n 10
d a y s ’ n o t ic e fr o m N o v . 1 1 9 1 8 t o N o v . 1 1 9 2 3 I n c l. I n to 6 % p r e f . s t o c k
a t t h e r a t e o f $ 1 ,1 2 5 p a r v a lu e f o r e a c h $ 1 ,0 0 0 p a r v a l u e d e b .
P a . S ta te
ta x r e fu n d e d .
V . 103. p . 2079.
M a in t e n a n c e a n d D e p r e c ia t io n F u n d .— T h e c o . m u s t s e t a s id e y e a r l y n o t
le s s t h a n 1 2 J 4 % o f i t s g r o s s e a r n i n g s , a n y p a r t o f w h i c h n o t a c t u a l l y e x
p e n d e d In a n y c a l e n d a r y e a r f o r m a i n t . , & c . , t o b e u s e d f o r e x t e n s i o n s , a d - 1
d it lo n s , A c . , a g a in s t w h ic h n o a d d it io n a l b o n d s m a y b e is s u e d .
D iv id e n d s o f 1 1 4 % h a v e b e e n p a id q u a r . o n 1 s t p r e f. s in c e O c t . 1 9 1 0 t o
a n d ln c l. O c t . 1 9 1 8 .
T h e s e c o n d p r e f . r e c e iv e d > 4 % q u a r . fr o m O c t . 1 9 1 0
to J u ly 1 9 1 5 .
W a s th en c o n v e r te d In to 1st p r e f. a n d c o m . s tk . A s to s to c k
d lv . o u c o m ., see V . 9 4 , p . 1250.
D lv s . o f 1 % o n c o m . w e r e p a id q u a r .
fr o m A p r il 1 9 1 3 u p t o a n d ln c l. J u ly 1 9 1 4 .
N on e to O ct. 1916, w hen 1%
w a s p a id : s a m e r a te q u a r t e r ly s in c e t o a n d in c l. O c t . 1 9 1 8 .
A s to c k d iv i
d e n d o f 1 % , p a y a b l e in c o m m o n s t o c k , w a s p a i d A p r i l 1 1 9 1 4 i n a d d i t i o n
t o t h o r e g u la r d iv id e n d o f 1 % p a id o n t h e s a m e d a t e .
V . 98, p. 525.
R E P O R T . — R e p o r t f o r c a le n d a r y e a r 1 9 1 7 in V . 1 0 6 , p . 1 7 8 9 , 1 8 0 4 .
C o m b in e d E a r n in g s o f S u b s id ia r y C o m p a n ie s .
D ec . 31 Y ea r—
G ross.
E xp . A T ax.
N e t.
I n t., A c .
S u r p lu s .
1 9 1 7 ..............................* 7 . 7 0 5 . 2 6 9 $ 5 , 0 1 6 , 9 0 8 * 2 , 6 5 8 , 3 6 1 $ 1 , 4 9 4 , 6 8 8 * 1 , 1 6 3 , 6 7 3
1 9 1 6 .............................. 6 , 8 8 5 , 7 7 9
4 ,2 1 9 ,3 8 6
2 .6 6 6 ,3 9 3
1 ,3 9 0 ,5 1 3
1 ,2 7 5 ,8 8 0
I n c o m e A c c o u n t , U n ite d L ig h t A R a ilw a y s C o . f o r Y e a r s e n d in g D e c . 3 1 .
1917.
1916.
1917.
1916.
In te re st
on
E a rn s, o n stk s.
bonds
and
o f s u b . c o s . * 1 ,1 5 0 ,3 6 9 * 1 ,2 5 7 ,4 9 0
n o t e s ________
$ 7 0 3 ,0 5 0
* 5 7 8 ,6 4 0
O th e r in c o m e .
9 0 4 ,5 2 5
6 6 1 ,3 3 1
P r e fe r r e d d iv i
5 9 5 ,7 9 2
d e n d s _______
6 0 5 ,5 5 7
T o t a l ................* 2 , 0 5 4 , 8 9 4 * 1 , 9 1 8 , 8 2 1
E xp s. & ta x es.
1 4 7 .2 7 3
1 4 6 ,9 0 8
T o t a l d e d u c t . $ 1 ,3 0 8 ,6 0 7 * 1 ,1 7 4 ,4 3 2
* 5 9 7 ,4 8 0
Net earns..*1,907,621 *1.771,913 B a l . , s u r p l u s . $ 5 9 9 , 0 1 4
Operating Statistics.— Years ended M ay 31:
. 1915.
i916.
1917.
1918.
M . cu. ft. of gas s o ld ...
1,301,993 1,412.552
1,511,032 1,781,794
K.w.li. elec, energy sold 90,028,524 102,172,126 117,154,689 143,518,446
Revenue passengers:
Urban railways______ 31,990,415 32,233,731 36,917,100 43,328,005
Interurban railways..
2,849,219 2,773,157
2,934,374 3,037,537
PR OPERTY.— Electric light and power is furnished from 10 central
stations with a total generating capacity of 102,700 h. p. of which 6,450
li. i>. is purchased water power; 131 miles of high-tension transmission lines,
2,694 miles of distributing lines, sub-stations, Ac. Gas is supplied from
11 stations with 931 miles (3-inch equiv.) of gas mains; annual sales arc in
excess of 1,780,000,000 cu. ft. The companies combined have over 57,081
gas and over 36.170 electric customers. The street and interurban railways
have a totaLmileago of single track of 276.51 miles.
OFFICERS.— Pres., Frank T. llulswit, Chicago; V.-Ps., Richard
Schaddelee, Grand Rapids; J. F. Porter, Kansas City, M o.; O. M . Ilurd and
T. J. Weber, both of Grand Rapids; Sec., L. H. Heinke, Grand Rapids;
Treas., C. M . Hurd, Grand Rapids. Goneral office, Portland, M e.;
executive office, Chicago; operating headquarters. Grand Rapids: operating
headquarters for Iowa district, Davenport, Iowa.— V. 105 p. 2095, 2185:
V. 106, p. 191, 711. 1680, 1789, 1804; V. 107, p. 286, 605.
(1) Grand Rapids Grand Haven & M uskegon R y.—Electric road.
Tblrd-rall system. Entire stock owned by United Light & Rys. Co.
ORGANIZATION.— Incorporated in Michigan on March 0 1899. Owns
and operates an electric road on fenced right of way. connecting the three
cities named in the title, a distance of 41 miles. Franchises in all towns
through which It passes extend to 1929: otherwise private right of way.
Rates.— In July 1918 applied to the I.-S. C. Comm, for auth. to increase
class rates from points on the line to Milwaukee, Wise., by 25%. In
July 1918 filed suit in the U. S. Dist. Court at Grand Rapids, seeking to
enjoin the State from enforcing the law fixing the maximum rate for interurbans in Michigan at 2 cents a mile. V. 107, p. 291.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock, *1.200.000 ($100)_____ _____
_______ ..$ 1 ,2 0 0 ,0 0 0 ---------------1st mtge. *1,500,000 ($1,000)1 1901
5 g J-J
1.500,000 July 11926
g old _________________c*tf Jlnt. at Guaranty Trust C o., N. Y.,Trustee.
Stock.— Entire stock, except directors' shares, deposited under United
Light A Rys. Co. 1st and ref. mtge.
Bonds.— The interest on outstanding bonds was guaranteed for 5 years
by the Security Investment Co. of Pittsburgh. See V. 76, p. 479. *2.000
of outstanding bonds held by United Light A Railways Co.
ROAD.— Extends from Grand Rapids In a northwesterly direction to
Muskegon, with a branch to Spring Lake and Grand Haven. Connects at
Grand Haven with Goodrich Line of steamers for Chicago and Crosby Line
of steamers for Milwaukee, which are In operation all the year round. Total
track. 61.48 miles, of which 4.22 m. In Grand Rapids and 3.43 m. in Mus
kegon are operated under favorable trackage agreement with the Grand
Rapids R y. and the Muskegon Trac. & Ltg. Co. 70-lb. T rail. Operates
21 passenger, 12 express and 8 work cars. Also does a freight, mall and
American Express business.— V. 100, p. 901, 1672; V. 107, p. 82, 291.
(2) The Tri-City Railway & Light Co.
In June 1912 control was acquired by the United Light A Rys. C o.
Tri-City Ry. & Lt. com. stockholders received In exchange for their shares
$31 16 2-3 cash. $16 60 2-3 United Rys. 6 % 1st pref. and $12 50 2d pref.
3% stock.— V. 94, p. 768. The United Lt. & Rys. Co. owns *8,915.900
common and $173,800 preferred stock.
ORGANIZATION.— Incorporated in Connecticut March 3 1906 add
owns ail the stock, except directors' shares, of the following companies
Tri-City Railway Co. of Iowa.
Moline-Rock Island M fg. Co.
P e o p le ’s L ig h t C o .
T r i - C i t y R y . C o . o f I llin o is .
M o lin e R o c k is la n d A E a s t . T r . C o . C lin t o n D a v e n p . & M u s c a t . R y . C o .
M o lin e E . M o lin e & W a t e r t . R y . C o . M u s c a t in e L ig h t in g C o .
W a t c h t o w e r A C a m p b e lls ’ I ia . P k .O o .
P e o p l e 's P o w e r C o .
I o w a C it y L ig h t A P o w e r C o .
C o n t r o l s a ll g a s p l a n t s , e l e c t r i c - l i g h t i n g c o m p a n i e s a n d s t r e e t r a i l w a y
lin e s in t h e c i t i e s o f D a v e n p o r t , I o w a C i t y , M u s c a t i n e , B e t t e n d o r f a n d
R o c k in g h a m , l a . , a n d R o c k I s la n d , M o li n e , E a s t M o lin e a n d o t h e r s m a lle r
$500,000________ ______ tfl Int. at Central T r. Co., Chicago, Trustee t o w n s i n I l l i n o i s , a n d a n i n t e r u r b a n c o n n e c t i n g M u s c a t i n e , D a v e n p o r t a n d
F o r s e c u r it ie s c o v e r in g r a ilw a y p r o p e r t i e s s e e s e p a r a t e c o m p a n i e s b e lo w
C lin to n .
P o p u la t io n s e r v e d , a p p r o x im a t e ly 1 7 7 ,0 0 0 .
R a ilw a y fr a n c h is e s
S t o c k . — 1 s t p r e f . s t o c k i s r e d . a t 1 0 5 a n d a c c r . d i v s . , * 2 0 0 in t r e a s u r y . T h o
e x t e n d t o 1 9 3 0 , 1 9 3 5 a n d 1 9 5 1 ; e le c t r ic fr a n c h is e s t o 1 9 3 5 a u d i 9 4 3 , a n d
2 d p r e f . s t o c k w a s c o n v . i n t o 1 s t p r e f . o r c o m . s t o c k , s h a r o f o r s h a r e , in 1 9 1 5 .
g a s fr a n c h is e s t o 1 9 2 9 , 1 9 3 3 a n d 1 9 4 3 .
C o m . Is o n l y s t o c k w i t h v o t i n g p o w e r .
V . 91, p . 96, 519; V . 92, p . 1110; V .
In J a n . 1 9 1 6 th e p r o p e r tie s o f th e I o w a A I llin o is R y . a n d I o w a A I llin o is
9 5 , p .4 2 1 .
* 3 1 5 , 1 0 0 a d d i t i o n a l c o m . s t o c k is h e l d in t r e a s u r y .
* 4 7 8 ,1 0 0 o f
T e r m in a l R y . c o m p a n ie s (fo r m e r ly o w n e d b y th e U n ite d L ig h t A R y s . C o .)
w e re a c q u ir e d a n d m e r g e d w ith th e D a v e n p o r t A M u s c a t in e R y ., fo r m in g
t tio o u t s t a n d i n g C h a t t . G a s C o . p r e f . s t o c k is o w n e d b y t h o U n i t e d L i g h t A
th e C lin to n D a v e n p o r t A M u s c a t in e R y .
A il o f th e $ 1 ,0 6 3 ,0O 0 1 st M .
R a ilw a y s C o .
,
,
.
.
,
B o n d s . — l i l t , o n f i r s t a n d r e f . m t g . b o n d s Is p a y a b l e a t o f f i c e o f t r u s t e e
b o n d s o f t h e I o w a A I llin o is R y . o u t s t a n d i n g h a v e b e e n a c q u ir e d b y t h e
o r C o n t in e n t a l & C o m m e r c ia l T r u s t * H a v in g s B a n k , C h i c a g o .
M o r tim e r
T r i - C i t y R a i l w a y A L ig h t , C o .
N .
B u c k n e r Is c o - t r u s t e e .
$ 4 , 0 0 0 , 0 0 0 b o n d s ( n o t I n c l u d e d In a m o u n t o u t
W a g e I n c r e a s e s .— V . 1 0 6 , p . 2 7 5 8 .
STU CK A N D B O N D S—
D a te .
In ter es t.
O u ts ta n d in g .
M a tu rity
s t a n d i n g a b o v e ) a r e d e p o s i t e d a s s e c u r i t y f o r 0 % n o t e s a n d $ 3 5 , 9 0 0 a r o In
trea su ry .
A d d it io n a l b o n d s m a y b e Issu ed fo r r e fu n d in g u n d e r ly in g b o n d s
C o m m o n $ 9 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) - ...................
.. ...................... * 9 , 0 0 0 . 0 0 0 A p r . ' 1 8 , 1 %
a n d fo r 7 5 % o f p a r v a lu e o f p re fe r re d s t o c k s o f u n d e r ly in g c o m p a n ie s r e
P r e f $ 3 , 0 0 0 , 0 0 0 6 % c u m ( $ 1 0 0 ) _____
0 Q -J
3 ,0 0 0 .0 0 0 J u l y ’ 1 8 . 1 M
C o l l t r u s t f i r s t lie n m o r t g a g e !
1906
5 g A -O
7 .4 7 7 ,0 0 0 A p r il 1 1 9 2 3
d e e m e d o r p u r c h a s e d , 7 5 % o f c o s t o f b e tte r m e n ts . Im p r o v e m e n ts a n d a d d i
t io n s , a n d fo r 7 5 % o f c o s t o f a d d itio n a l p r o p e r t y , u n d o r c e r ta in r e s tr ic tio n s .
* 9 .0 0 0 ,0 0 0
s f ______ c A r t f j l n t . a t N . Y . T r u s t C o . , N . Y . . T r u s t e e .
R e d e e m a b l e a s a w h o l e o r In p a r t o n a n y i n t . d a y a t 1 0 2 > 4 a n d I n t . o n 6 0
1 st A r e f m t g e $ 2 0 ,0 0 0 .0 0 0 1 1 9 1 0
5 g J -J
8 ,3 2 9 .0 0 0 J u ly 1 1 9 3 0
d a y s ' n o tic e .
A d e p r e c i a t i o n f u n d o f 2 % o n a ll b o n d s o u t b e c a m e o p e r a t i v e
g o l d - .................. ............. c * A r * t f f ! n t . a t C e n t r a l T r u s t C o . , N . Y . , T r u s t e e .
In 1 9 1 7 .
S e e d e s c r i p t i o n o f b o n d s In V . 1 0 2 . p . 1 8 9 8 .
C h a tta n oog a G as
T r l - C l t y R a i l w a y 1 s t M _____ t f
1902
5 M -S
6 4 .0 0 0 S e p t 1 1 9 2 2
Io w a C ity
L ig h t, A
P ow er?
1912
6 M -8
4 0 0 .0 0 0 S e p t 1 1 9 3 2
C o . b o n d s h a v e a s in k in g fu n d o f $ 1 5 ,0 0 0 p e r a n n u m fr o m 1 9 1 2 t o 1 9 2 6 ,
r e fu n d in g m o r tg a g e
( $ l ,- ( In te r e st a t C o n tin e n ta l A C o m m ’ l T r u s t A
in c l u s i v e , o n fir s t $ 5 0 0 ,0 0 0 b o n d s a n d 2 % a d d it io n a l o n a n y f u r t h e r b o n d s
Issu ed .
S u b je c t t o c a ll a t 1 0 5 a n d in t .
V . 84, p. 805.
$ 6 ,0 0 0 o f b o n d s
0 0 0 , 0 0 0 ( $ 1 . 0 0 0 ) ............. c * t f '
S a v . B a n k . C h ic a g o . T r u s te e .
i
r e p o r te d o u t s t a n d in g o w n e d b y U n ite d L ig h t A R a ilw a y s C o .
I o w a C it y G a s A E le c t r ic 1 s t / 1 9 0 9
6 M -N
2 3 8 ,5 0 0
See te x t
T h e $ 1 ,5 0 0 ,0 0 0 n o te s o f 1 9 1 5 a r e s e c u r e d b y d e p o s it o f * 2 ,0 0 0 ,0 0 0 1 st
m o r t g a g e $ 4 0 0 , 0 0 0 _______ t f l l n t . a t C h i c . T r . A S a v . B a n k , T r u s t e e .
A r e f. 5s. d u o 193 2 .
T h e y a re r e d . a t 101 a n d In t. o n 4 w e e k s ’ n o t ic e .
S t o c k .— P r e f . s t o c k i s r e d e e m a b l e a t 1 2 0 a n d a c c u r a . d l v s .
See V . 827
T h o b o n d s e c u r e d n o t o s , a e r ie s " A ” o f 1 9 1 7 , a r o s e c u r e d b y * 2 ,3 7 5 ,0 0 0
p . 1213.
L is te d o n M o n t r e a l, T o r o n t o a n d L o u is v ille S t o c k E x c h a n g e e .
ELECTRIC RAILWAYS
50
Loti<
i.i o f the 59,000.000 coll, trust bonds. $1 .360.000 have been retired
by sink fd. SubJ. to call on any Int. date at 105 and Int. A sinkingfund
of $50,000 per ann. from Jan. 1 1908 to 1913; $150,000 for succeeding 6 year*
then $260,000 per ann. to maturity. Coupon bonds are In denomination
of $1,000 and registered bonds in $1,000, $5,000 or $10,000 and multiples
They are listed on N. Y. Stock Exchange. Of the 1st & ref. bond*, suf
Detent are reserved for prior liens, and remainder for 85% of cost of ad
ditlon8 and Improvements. Subject to call at 105 and int. on any int. date
Sinking fund of l 4 % of bonds out begins Feb. 1 1924. V. 93, p. 1465.
$5,123,000 of outstanding 1st A ref. bonds are owned by Un Lt. A ley*.Co
Of the $54,000 Tri City Ry 1st M . 5s, United Light A Rys Co. owns $13,000.
Of the Iowa City Lt. & Pow. Co. bonds, $238,500 are reserved to rotlre
prior Hens and $344,500 for new construction at 85% of cost. All the out
standing bonds are owned by Trl-Clty Ry. A Light Co
The Iowa City
Gas & Elec, bonds mature serially $4,000 to $9,000 annually from May 1
1912 to May 1 1927 and $135,000 In 1928. SubJ to call at 105 and Int
on any Int. date after May 1 1919. Additional bonds may be Issued for
80% of cost of extensions and betterments. $1,500 owned by Un. Lt. A
Rys Co.
Dividends.— First dlv. on pref., 1J4%, paid July 1906, and 1H % quar.
since to and Including July 1918. A dividend of 1% was paid on the com
mon stock Jan. 1 1915 (practically all of this stock Is owned by United Light
& Ry. Co. and previous disbursements were not made public), and quar.
since to and lncl Apr 1918.
ROAD.— Operates over 170 miles or standard gauge track, connecting the
cities of Clinton and Davenport, Iowa, and Rock Islund. Moline and East
Moline, 111.; Including an extension to Muscatine placed In operation In
1912 and city lines In Muscatine. 80-lb. girder and 60 to 75-lb. T rail.
OFFICERS.— Pres., B. J. Denman, Davenport; V.-P., Richard Schaddolee. Grand Rapids: V.-P., H. R. Toboy, N. Y.; Sec., H E. Weeks; Trees .
Frank T . Hulswlt— V. 105, p. 820. 1709; V. 106, p. 298; V. 106, p. 2758.
(3) Cedar Rapids & Marion City Ry.
ORGANIZATION.— Incorp. May 1891 In Iowa
Franchise In Cedar
Rapids expires 1941 and indeterminate on lnterurban. The United Lt.
& Rys. Co. owns $584,801 stock, $184,000 bonds and $380 certificates of
Indebtedness.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock $1,000,000 ($100)...................
.................
$650,000 ...............
First mtge $250,000 ($1,000)/ 1891
5 J-J
184.000 July 11931
c ntf I Int. at Amer. Tr. C o., Boston. Trustee.
Certificates of Indebtedness............... .................
16.528 Sept 1 1919
Bonds.—Of remaining bonds. $25,000 are In treasury and $41,000 are
held In sink fund.
ROAD.— Owns and operates road 28.90 miles in length, extending from
Cedar Rapids, Iowa, to Marlon; second track, 2.28; sldlugs, 3.17; total of
all, 28.90 miles. Ralls. 45. 60 and 80-lb. T
(4) Mason City & Clear Lake Railroad C o.— A trolley road.
In Feb. 1913 the United Light A Rys. Co. acquired control.
ORGANIZATION, ETC.— A trolley road. Operated since July 1897.
Owns right of way 33 feet wldo from Mason City to Clear Lake. 9 mile*
Length of line within and between the two cities. 18-6 m. Handles all
freight coming over Minn. A St. Louis, Chic. R. I. A Pac., Chicago A North
West and Chic. Great West, railways between Mason City and Clear Lake
Franchises run until Oct. 31 1935.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Stock $1.000.000.- . . . .................. ..
.................
$400,000 ...............
General mortgage $2,500.0001 1912
6 g J-D
316.000 Juno 1 1932
gold i$ 1 .0 0 0 ) ____ . c*tf(In t at First Tr. A Sav Bk Chic., Trustee.
Bonds.— Remaining bonds are for extensions and betterments at 76 < of
b
cost, providing annual net earnings are It* times lot. charge (lncl. bond*
to be Issued)
Red. at 105 and Int. on any Int day
Sinking fund of 2 %
per annum began June 1 1913 to provide for additions and ..betterment*
or for purchase of bonds. $8,500 of outstanding bonds owned by U .L . Rya
Co. V. 04. p. 1764.
GREEN BAY, WIS.
WISCONSIN SECURITIES CO.— A holding company
ORGANIZATION.— Incorp. In Wisconsin on Dec 12 1911 and Is puro
ly a financing company V 94. p 632)
Controls Wisconsin Pub Serv
Co. Also owns the $150,000 outstanding common stock of the Sheboygan
Gas Light Co. (V. 100, p. 738) and a large Interest in the Wisconsin Ry.,
Lt. A Pow. Co., which see under “ La Crosse, Wts.” In Doc. 1916 acquired
all the stock of the Manitowoc (WIs.) A Northern Traction Co., operating
an electric railway between Manitowoc anti Two Rivers, about 10 miles.
V. 104, p. 75. Also owns the Calumet Serivce Co. o f Chilton, WIs., and
controls the Marino Securities Co., which owns tho Baltimore (Md.
Dry Dock & Ship Building Co. V. 107, p. 503.
In July 1918 issued $500,000 5-year 6 % secured notos to partially reim
burse tho company for money invested in tho stock of tho Marino Securities
C o., additions, extensions, improvements, Ac. V. 107, p. 503.
STOCK (N'D BONDS— Date.
Interest
Hal- tiding
Maturity
8 'ock 42 -too ■0 ->
»
.
. . $i 690 non
Notes $500,000 ($100, $5001 1918
6 J-J
500,000 July f 1923
and $1,000)__________ c .tfj Wisconsin Trust C o., trusteo.
Sheboygan das Light Co.—
Common <250 000 _______ ($150,000 out— All owued by Wise. Secur. Go.)
First mortgage $250,000 gold I 1901
5 g J-J
250.000 July 11931
($1,000 A $ 5 0 0 )_ ,c * t f ’ Int at Union Trust <lo Detroit Trusts*
_
Notes.— Tho notos aro secured by pledge of $100,000 Wise. P. S. Co.
1st & ref. 5s, $60,000 Sheboygan Gas Light Co. notes, $450,000 Marine
Sec. Co. 7% prof, stock and $60,000 U. S. 2d Liberty Loan 4s. Callable
on any int. date on 40 days' notice at 104 and Int. up to and lncl. July 1
1919; 103 and int. to July 1 1920; 102 and Int. to July 1 1921; 101 and int.
to July 1 1922; and 100 and int. thereafter. V. 107. p. 503.
OFFICERS.— Pros., Clement C. Smith; V.-Ps., Oliver C. Fuller and
Ludington Patton; See. A Treas., Howard Greene; Asst. Sec.-Treas., II. C.
Mackay.— V. 91. p. 632; V. 100, p. 1924; V. 104, p, 75; V. 107, p. 503.
(1) W isconsin Public Servlco Co.
ORGAN IZ a TIO N .— Incorp. In Wisconsin In Jan. 1912 as reorganisation
and merger of the Green Bay Tract. Co. and Northern Hydro Elec. Co
Owns and operates entire city and lnterurban railway system (except about
1.60 m. of track) centering at Oreen Bay .and furnishes gas. electric light and
power to Oreen Bay and suburbs. On Jan. 1 1914 the eutlre property of
the Green Bay Gas & Electric Go. and the Mluahan Electric Co. was pur
chased. For particulars of Green Bay Oas A E1 C o. . see V . 82. p . 673, 631
.
and V. 80. p. 172. Street railway franchise Is perpetual and exclusive]
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common, $1.000.000 ($100).............
.................$1,000,000
Pref. $600,000 6 % cum ($ 1 0 0 ).......
................
600,000
1st mtge. A ref. $15,000.0001 1912
5 g J-J
2,438,000 Jan."V I942
gold ($1.000).............. c*tf/In t. at Wisconsin Tr. Co., Milwaukee, trus.
Green Bay O A E 1st A ref M \ 1905
6 g M-N
437.000 May 1 1935
$750,000. g ($1,000). . . -C* I Int. at Wlsconslu Tr. C o.. Milwaukee, trus
Green Bay Light A Pow first/ 1899
F-A
28,000 Feb 1 1919
m ortgage------------------------lint, at Firsc Nat. Bank, Mllw., and First
l Trust Co.. M llw., Trustee.
Bonds.— Wise. Pub. Serv. bonds are subJ to call on any Int. day at 105
and Int. Remaining bonds are ror .acquisitions and to retire underlying
bonds under curtain restrictions. See V. 94. p. 1697. Sinking fund or 2%
on bonds outstanding began* in 1917. The Oreen Bay Gas A Electric
bonds are subject to call at 105 until 1924; thereafter at par- $ 5 7 000 have
been paid and canceled. $28,000 are in hands of a trusteo to retlro the
Green Bay Light A Power bonds and $228,000 aro pledged as additional
security under the Wise. P. S. Co. 1st VI. & ref bonds.
EARN INGS.— Of combined properties for 12 mos. ending Juno 30Year—
Gross. Netiaft.tax.) Oth.Inc. Bd.,Ac.,Int. Skg.Fd. Siirvlus
1917-18...............$646,260 5204,120 $7,344 $158,546 $48,760 $4,159
1916-17............... 558.418
254,839 6,153
156.407
241380 80 205
ROAD, Ac.— Owns and operates all lines in tho city of Groon B ay also
a line from Green Bay to East De Pero, and branch to Duck Creek and a
line from Green Bay to West Do Pero, Little Rapids, Wrightstown and
Kaukauna; total, 42.68 miles of track. 70 and 85-lb. " T ” and girder rail(motor cars; 4 trailers. Gas meters, 3,450; electric meters, 2,575.
’
OFFICERS.— Pres., Clement C. Smith. Milwaukee; V.-Ps., O. R. Phon.cie. Green Bay, and J. P. Pulliam, Milwaukee: Sec. & Troas Howard
Groeno, Milwaukee; Gen. M gr., J. P. Pulliam, Milwaukee.— V. 94 p 1697
[Vol . 107.
GREENFIELD, MASS.
MASSACHUSETTS CONSOLIDATED RAILW AYS
ORGANIZATION —Organized In Boston on Nov 16 1911m the Mtus.-ichuseiui Northern lty*. lu May 1913 name wa* changed to the Ytaauau
chiMetta Coneolldated Railway*, la a voluntary association managed by
a board of no von trustees
V. 93. p. 1462. 1599. 1787
Controls through
stock ownership the following companies:
Concord Maynard A Hudson St. Ry. IMiller* River Street Ry (proposed).
Connecticut Valley Street Ry.
iNorthern Massachusetts Street R y.
The system comprises 114 miles of road, serving 20 cities and towns In
Central and Northern Massachusetts. Both passenger and express service
are provided
Rights of way have been partly secured on the proposed lino
from Orange to Millers Falls.
Shares—
Outstanding
Last Die.
See text.
Common $1,640,300 ($100).................................... $1,619,900
Pref $1.100,000 $100' cum (see text) Q-F___
701 000
See text.
STOCK — Additional pref. shares only to be Issued when net earnings for
12 mas. ending not more than 180 days prior to date of Ih u shall have heel
hh
1)4 times amount necessary to pay dlv. on shares out and applied fcr.
Dlvs. on pref aro 5% to Nov. 1 1914. lncl.; 5 4 % to Nov 1 1917., lncl.,
and 0% thereafter
In c a w o f liquidation pref. Is entitled to $110 per share
up to Nov 11914 $ 115 to Nov. 1 1917 and $120 thereafter V 93 p 1699.
Dividends. —On pref., 1912 to 1914. 5% per annum. In 1915 and 1916.
5 H % . Feb 1917 dlv. passed. On common a dlv. of 4 % was paid
Oct 15 1913
ExN et
Note
Pref. Div. Balance
E A R N IN G S .
Gross
Year ending—
penses.
Income.
Incom e. Interest.
(5 4 % ) .
Deficit.
Dec. 31 1917____ $6,428
$3,543 $2,886 $16,530
$9,688 $23,333
Dec. 31 1916___ 20,439
13,963
6.470
___
38,753
32,277
Juno 30 1916___ 7,216
11.979 dof4,763
3 8 ,7 5 3
43,516
Combined Earnings of Subsidiary Companies.
Year ending— Gross.
Net. Int. ATaxes. Pf .Dir Com Hit Surplus.
D e c . 31 1 9 1 7 .S 5 8 7 .0 5 6
$ 1 3 5 ,1 2 4
$ 1 2 5 ,8 9 2
$ 9 ,4 5 0
N one
d o f.$ 2 1 8
D e c . 31 1 9 1 6 . 5 4 8 .3 5 9
1 4 9 ,1 2 2
1 1 6 ,0 2 8
16 ,2 0 0
1 4 ,3 9 6
2 .4 9 8
J u n e 30 1916
5 2 9 .4 8 4
1 4 8 .6 7 6
1 1 6 ,5 0 8
1 6 ,2 0 0
3 .7 4 7
1 2 ,2 2 1
O F F I C E R 8 . — S e c A T r e a s ., D . P A b e r c r o m b ie J r
G r e e n fie ld
M a s s .—
V .9 7 , p . 3 6 5 , 9 5 1 ; V . 100. p . 1 1 6 8 . 1 6 7 1 ; V . 104. p . 1702 V . 106. p . 2 0 1 1 .
(1 ) C o n n e c t i c u t
V a lle y
S tre e t
R y .— T r o lle y
The
M ass
C o n s o l.
R ys
o w n s 4 .9 9 6 s h a r e s o f t h e c o m m o n s t o c k .
O R G A N I Z A T I O N — I n c o r p o r a t e d In 1 8 9 9
C om m en ced Jan
22 1 9 0 0 .
Is a c o n s o lid a t io n o n A p r il 1 1 9 0 5 o f t h e .N o r t h a m p t o n A A m h e r s t S t r e e t
R y ., t h e G r e e n f i e l d A T u r n e r 's F a l l s S t r e e t R y a n d t h e G r e e n f i e l d D e e r f i e l d
A N o r t h a m p t o n S t r e e t R y .. a s p e r p l a n In V . 8 0 . p
1111
In M a y 1 9 1 5 th e G o v e r n o r o f M a s s , s ig n e d a b ill a u t h o r iz in g th e N o r t h e r n
M ass
St
Ry
td a b s o r b
th e co m p a n y
b y c o n s o lid a t io n o r p u rch a se
V . 106, p . 1833.
Fares.— I n S e p t . 1 9 1 8 f i l e d w i t h t h o M a s s . P . S . C o m m , a t a r i f f , o f f e c t i v o
N o v . 4 1 9 1 8 , u n d e r w h i c h t h e s y s t e m w i l l b e d i v i d e d i n t o 4 7 m ottos, e a c h
a p p r o x i m a t i n g l m i l o l o n g , t h o r a t e o f f a r e t o b o 3 c e n t s in e a c h z o n e , w i t h
a 0 -c e n t m in im u m c h a r g e .— V . 1 0 7 , p . 1 0 9 9 .
STOCK AND b o n d s —
Date.
Interest
Outstanding
Maturity.
S t o c k , c o m , $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) ...............................................
$500.00(1 Dec 16, 1%
P r e f , $ l 2 0 . 0 0 0 ( 6 % c u m ) ( $ 1 0 0 ) _____
M -S
120 000
See text,
C o n n e c t i c u t V a lle y S t R y 1 s t / 1 9 0 0
5 g M S
120.000 .Sept. 1 1920
in o r t g o ld ( $ 1 ,0 0 0 ) e * n t f ) I n t . a t O ld C o l o n y T r u s t C o
B oston . T ru s t.
N o r t h a m A A i n b 1st m t g e . / 1 9 0 0
5 g M S
1 8 0 .0 0 0
ep t 1 1920
$ 1 8 0 ,0 0 0 g
$ 1 0 0 0 ) . c n t f 1 I n t . a t O ld C o lo n y T r u s t C o , B o s t o n . T r u s t .
G r e e n fie ld D e e r fie ld A N o r t h ! 1903
5 g J -J
1 5 0 .0 0 0 in ly
1 1923
fin d m o rt
$ 1 5 0 ,0 0 0
g o l d * ( n t . a t M e r c a n t i l e T r u s t <t o . B o s t o n T r u s t .
$ 1 , 0 0 0 a n d $ 5 0 0 ) _ c * n i l N o s i n k i n g f u n d a n d b o n d s c a n n o t li e c a l l e d
G re e n A T u rn a lls c o n s m $ l3 0 ,-( 1903
5 g J D
13 0 . 0 0 0 J u n e 1 1 9 2 3
0 0 0 g ($ 5 0 0
$1 0 0 0 ) c * n t f 1 I n t e r e s t a t B e a c o n T r u s t C o
B oston , T ru s.
N o t e * p a y a b l e D e c . 3 1 1 9 1 7 ..................
..........
300 000
_________
Bonds.— 'T h e N o r t h a m p t o n A A m h e r s t b o n d s a rt- s u b j e c t t o c a l l a t 1 0 5
o n 4 w e e k s n o t ic e as a r e th e b o n d s o f t h e C o n n e c t ic u t V a lle y S t r e e t R y .
T h e $ 1 2 0 ,0 0 0 C o n n e c t i c u t V a ll e y b o n d s w e r e Iss u e d u n d e r th e fir s t m t g e . o f
t h e N o r t h a m p A \ in h S t R y . w h i c h w a s o r i g i n a l ) ! d r a w n f o r $ 3 0 0 , 0 0 0 .
Dividends.— O n p r e f . . 3 % s o m l - a n n . s i n c e S e p t . 1 9 1 0 t o a n d l n c l . M a r c h
1 9 1 8 (p a id M a y 1 1 9 1 8 ).
O n c o m . , In 1 9 0 0 ( y e a r e n d . S e p t . 3 0 ) , 2 % ; in
1 9 0 7 . 2 % ; In 1 9 1 2 . 1 % ; in 1 9 1 3 , 2 4 % : in 1 9 1 4 , 3 % .
In 1 9 1 5 , F o b . , % % - .
M a y , 4 % ; A u g .. H % .
In D e c . 1 9 1 6 . 1 % .
"
E A R N I N G S .— F o r c a le n d a r y e a r 191 6 a n d y e a rs e n d in g J u n e 3 0 :
Year—
Gross.
1 9 1 6 . . .....................$ 2 1 0 , 3 2 0
1 9 1 5 - 1 6 ................. 2 3 5 , 6 1 9
1 9 1 4 - 1 5 ............ 2 4 2 , 6 3 3
Net.
Int. ATaxes. Pref .Div. Com.Die Surplus.
$ 6 4 ,1 7 1
6 2 ,8 2 0
7 7 .5 1 5
$ 4 6 ,2 3 3
4 7 ,9 7 2
5 1 .7 3 3
$ 7 ,2 0 0
7 .2 0 0
7 .2 0 0
$ 1 ,9 9 0
3 .7 4 7
1 4 .9 8 8
? 5 ,7 4 2
3 ,9 0 1
3 .5 9 4
Latest Earnings.— For cal. year 1917, gross, $252,569; not, after taxes,
$49,391.
R o V O . — O w n s a n d o p e r a t e s 4 7 . 0 5 4 m i l e s o f t r a c k b e t w e e n M i l l e r 's F a l l s
r u n n e r 's F a ll s . G r e e n f i e l d , N o r t h a m p t o n a m i A m h e r s t
tl
passen ger
ta rs 2 s n o w o l o w s , 5 o t h e r c a r s a n d 1 3 1 e le c t r i c m o t o r s
O F F IC E R S
-P r e s
O
W
H a z e l t o n : V .-P
A G en
M gr.
I)
I’ . A b e r
c r o m b ie J r .; T r e a s ., H . A . C r a n e ; S u p t ., J . A . T a g g a r t .— V . 9 7 , p . 2 9 8 :
V . 9 8 . p . 1392; V . 100, p . 1167; V . 106, p . 2 0 1 0 ; V . 107, p . 1099.
(2
N o r t h e r n M a s s a c h u s e tts S tr e e t R y .— T h e M a ssa ch u se tts C o n s o l.
R y s o w n s a ll t h e c o m m o n s t o c k ( $ 3 5 0 ,0 0 0 ) .
O R G A N I Z A T I O N . — I n c o r p . In M a s s , o n J u l y 1 1 8 9 4 a s t h e A t h o l A
O ra n g e S treet R y
N a m e c h a n g e d Co a b o v e o n M a y I 191.3.
In J a n . 1 9 1 3
p u r c h a s e d t h e p r o p e r t y a n d fr a n c h is e s o f t h e T e m p le t o n S tr e e t R y a n d o n
M ar
1 19 1 3 a b s o r b e d th e G a r d n e r W e s tm in s te r A F it c h b u r g S tr e e t R y .
A s a r e s u lt o f th e s e a c q u is it i o n s , s t o c k w a s I n c r e a s e d fr o m $ 7 4 ,6 0 0 , a ll o f
o n e c l a s s , t o $ 5 0 0 , 0 0 0 o f w h i c h $ 1 5 0 , 0 0 0 I* 0 % c u m p r o f , s t o c k .
T h e G o v e r n o r o f M a s s In M a y l 9 l 5 s i g n e d a b i l l a u t h o r i z i n g t h e c o m
p a n y t o a b s o r b '.h e C o n n e c t i c u t V a l l e y S t . R y
b v e o r is o llila t Ion o r p u r
ch ase
V
100
p
|8 3 3
Fare Increase.— I n M a y 1 9 1 8 w a s a u t h . b y t h o M a s s . P . S . C o m m , t o
e l i m i n a t e t h e 5 - c e n t f a r e l i m i t a n d t o .a d o p t z o n e s o f a b o u t 1 m i l e in l e n g t h
w it h a fa r e o f 5 c e n t s fo r t h e f ir s t 3 z o n o s o r f r a c t io n t h e r e o f a n d 2 c e n t s
fo r o a c h a d d itio n a l z o n e . V . 1 0 6 , p . 2 0 1 1 .
STO CK S A N D B O N D S—
Date.
Interest.
Outstanding. Maturity.
C o m m o n $ 3 5 0 , 0 0 0 . . . . . _____ ________
__________
$350,000 InT I-T 6 .2 4
P r e f 6 % c u m $ 1 5 0 . 0 0 0 ................................
Q -F
150.000
See text
1 s t A r e f M $ 5 0 0 ,0 0 0 ($ 1 ,0 0 0 / 1 9 1 3
5 g M -N
.....
315.000 May 1 1943
r e d I o n 1 4 % In ) h a s _ c * t f 1 I n t . a t A m e r i c a n T r u s t C o . B o s t o n . T r u s t e e .
O a rtl W e s tm A F itc h b u r g 1 st/ 19 0 0
5 F A
1 8 5 ,0 0 0 F e b
1 1920
m t g o ($ 1 ,0 0 0 ) g o ld . e * n t f ( l n t . a t O ld C o lo n y T r . C o
B oston . T ru steo.
N o t e s p a y a b l e D e c . 3 1 1 9 1 7 ................
..........
...
300 000
___________
Bonds.— O f th< $ 5 0 0 , 0 0 0 1 s t A r e f . b o n d s . $ 1 8 5 , 0 0 0 a r c r e s e r v e d t o
r e tir e an e q u iv a le n t a m o u n t o f u n d e r ly in g b o n d s
N o s in k in g fu n d .
Dividends.— T h e A u g . 1 9 1 7 d i v . o f 1 4 % o n t h e p r e f . s t o c k w a s d e f e r r e d .
N o n o s in c o .
Y ear
Gross
Net
Int. A
Pref.
Com. Balance,
ending— Earnings. Earnings.
Taxes.
Dies.
Dies. Deficit.
$9,000 ........... $2,716
0.000 ...........
371
9.000 $8,750
9.964
Latest Earnings.— For cal. yoar 1917. gross, $236,423; not. aftor taxes,
$39,691.
ROAD.— 47.7 miles of track.— V. 100. p. 1168, 1833: V. 106. p. 2011.
(3) C oncord .Maynard & Hudson Street Ry.— A trolloy road. Tho
Mass. Consol. R.vs. owns 2,319 shares of tho stock.
O R G A N I Z A T I O N . — Organized in Massachusetts Mar. 27 1901.
Ac
quired Concord A Clinton St. Ry. Fob. 1 1902. On Aug. 25 1911 acquired
Lowoll Acton A Maynard St. Ry. V. 93, p. 1786. Franchises perpetual.
In June 1917 tho Mass. P. S. Comm. auth. tho co. to Increase its fare
schedule to a 2 -cent per mile basis with a minimum charge of 0 c. for an ex
perimental period of 6 mos., beginning June 25 1917.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock $235,000 ($100)_______ _____
. . _______
$235,000 See oarnlngs
1st mortgage $250,000 g o ld .. / 1902
5 g J-J
230,000 July
1922
($ 1.000)--------------- cArntf\lnt. at Amer. Trust Co., Boston, Trusteo.
Notes payable Dec. 31 1017.....................................
85,000 ...................
RO a D.— Owns 19 miles of track between Concord, Maynard, Acton,
Stow and Hudson. At Concord connects with Loxington A Boston, atul
at Hudson with Worcostor Consol, and Boston A Worcester.
Year ending—
Gross.
Net.
Int.ATaxes. Dividends. Surplus.
Dec. 31 1916............$81,683
$24,434
$15,562
$9,400 dof.$528
Juno 30 1916........... 77.354
25,090
10.390
.........
8.691
Juno 30 1915............ 76.517
26.759
17.315
9,400
44
Latest Earnings.— Cal. yoar 1917, gross, $78,596; not, aftor taxes, $4,769.
(4) (Millers River Street Ry.
Rights of way havo been partly secured on this company’s proposed lino
between Millers Falls and Orange.
D e c . 3 1 1 9 1 6 ..................$ 2 2 6 , 3 5 0
J u n e 3 0 1 9 1 6 .................. 2 1 0 . 5 1 0
J u n e 3 0 1 9 1 5 .................. 2 0 1 , 4 9 4
$ 6 0 ,5 1 7
6 0 ,7 0 0
5 9 ,9 2 5
$ 5 4 ,2 3 3
5 2 ,1 3 7
5 2 .1 3 9
/
Sept ., It>l8
NORTH
ELECTRIC RAILWAYS
GREENSBORO, N. C.
CAROLINA
PUBLIC
SERVICE
CO
O R G A N IZ A T IO N .— Chartered In North Carolina In 1909. Purchased
tho Greensboro Elec. C o. and Greensboro Gas C o ., the electric light plant
o f the High Point Elec. Power C o. and tho street railway system in H igh
P oint, in 1913 built gas plant and distributing system in High Point.
In 1911 acquired m ajority o f the stock o f Salisbury A Spencer Ity. C o .,
which company n also leasea for 50 years. V 93 p 1328
Does entire gas,
eloctric light and power and street railway business of Greensboro (and Its
suburbs o f Proxim ity, R evolution, W hite Oak and Pomona) Salisbury,
Spencer, East Spencer and High Point and street railway business of
C oncord. In 1910 franchises had the following number of years to run:
Greensboro, 28 years. High Point, 59 years; Salisbury, Spencer, East Spencor and Concord. 00 years: also has a 30-yoar franchise in Guilford C ounty
and township
Chariots in Stock.— Shareholders on M ay 15 1917 voted to reduce tho
$3,322,900 com m on stock to $1,500,000 by the exchange, pro rata, of
$500,000 pref stock authorized for the purpose, said pref stock to bear
4 % dlv. the first year 5% the second year and 6% thereafter.
Holders
or each 100 shares o f existing stock received in exchange 15 shares (plus frac
tion) o f new pref. and 45 shares (plus fraction) of com m on stock
As o f
Sept. 1 1918 about 94% o f the stock had been exchanged. This action will
result in considerable saving In State and Federal taxes.
Hate increases.— Has been authorized by the Commissioners in tho C ity o f
Greensboro to abolish all reduced-rate tickets and establish a straight 5-cent
faro. Has been auth. by the N . C . R y . C om m , to increase its charge for
gas in Greensboro 2,5c. per 1,000 cu. ft.
ST<x i\ \ \t i iu N D s — Date.
Interest. Outstanding.
Maturity.
C om m on $ 1.5 0 0 .0 '0 ($100)............- - - - - - See text ......................
Preferred $1,000,000 ($100)..............
See tort
See text
Greensb El Co 1st M gold! 1902
6 g A-O
^
o00 April 1 1932
($500 A $ 1,0001 ......... e t f/I n t . at Eqult. T r. C o. N V trustee.
Greensb El Co ref & Imptl 1905
5 g A -O
30,500 June
1930
M ($500 A SI 0 0 0 ) ... e t f/I n t . at Bankers' T r. C o. N Y trustee.
First A ref.m .$ 3 ,6 0 0 .0 0 0 0 0 0 ./ 1909
5 A -0
2 12b 900 Amr 11934
$500 and SI 000) c*Ar* t f(ln t . at E quitable Trust C o. N Y ., trustee
Saiisb & Speu Ry 1st M gold / 1905
O f M -N
831.000 May 1 1945
$1,000,000 ( $ 1 . 0 0 0 ) . Int. at M ich Trust <'u. Grand Rapids
( trustee, or W . N . C oler & C o ., N ow York.
Bonds.— O f the 1st A ref m tgo.. $201,000 are reserved t> retire like
>
am ount o f mortgage bonds o f Greensboro Klee. C o. and $l 016 7(H) are re
served for future impts and acquisitions under proper llmlt ii Ions V 88.
p. 1128; V. 104, p. 2343: $17,500 canceled for account o f sinking fund,
$137,900 hold in treasury and $17,500 in sk. fd. Subj. to call on any
int. date at 105 and int
Sinking fund o f I % per annum o f gross Income,
July 1915 to 1919; 1 H % July 1920-1924, and 2 % 1925 to m aturity. Tho
remaining $108,000 Salisbury A Spencer U y. bonds aro reserved for future
extensions and impts.
$61,000 are held in treasury.
Aro guar., p. Sc i..
b y tho North Carolina Public Service C o. Redeemable at 105 and int.
on 6 m onths’ notice.
E A R N I N G S .— For year ending M arch 31 (1918 report in V . 107, p. 398):
Fiscal Year—
Gross.
N et, aft. Tax.
Interest.
BaL.Sur.
1 9 1 7 - 1 8 .- - .................... ........ $641,270
$267,574
$168,492
$99,082
1916-17................................... 580.492
241,382
159,507
81.875
Passengers carried during year ending M arch 31 1918, 3,818,623, against
3,936,827 in 1916-17.
R O A D .— Owns 27.41 miles o f track. 60 and 70-lb. T and 90-lb. girder
rails. Standard gauge. 39 cars, 15 now “ Safety Ono M a n " cars were
Installed In 1917. C onnecting extensions botween the various citios
aro proposed. Electric plants capacity 2,800 horse power (also purchases
power from Southern Power C o. under favorable con tract); 166 miles trans
mission lines. Gas plants capacity 820,000 cu. ft. per day. 6S miles of
mains: electric light, customers, 5,228; power, 335; gas, 3,781; total, 9,009.
O F F IC E R S .— Pres., O . B. Hole; V .-P ., W escott Roberson; Sec. & T roas.,
L . H . Holo Jr.; Gen. M g r., R . J. H ole.— V . 105, p. 1105; V. 107, p. 398.
GULFPORT, MISS.
G U L F P O R T & MISSISSIPPI C O A S T T R A C T I O N CO.
O R G A N IZ A T IO N .— Incorporated In Mississippi in 1906. Purchased
the Biloxi Electric R y. & Power C o. and the Gulfport D evelopm ent C o.
In 1907 Increased auth. stock from $1,000,000 to $2,000,000.
Strike.— Because o f the refusal to recognize a union of its em ployees,
com pany suffered from a strike in Doc. 1917.
S TO C K A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
Stock $2,000,000 ($100).................. ..
..............
$1.000,000 .....................
1st m ort $1,000,000 gold? 1905
6 g A-O
1.000.000 Sept 30 1935
( $ 1 ,0 0 0 )............................. t f l i n t , at Hibernia B k .A T r .C o . N .O r L .T r u s
2d M gold ($1.000)----- c t f / 1907
6 g J-J
692.000 July 11932
I Hibernia Batik & T rust C o., Trustee.
BI1. EL R y. A P . 1st m tge..g. j 1903
6 g J-J
l49,400(Jan 11924
($100, 3500 A $ 1 ,0 0 0 ).- . t f l i n t , at Hibernia B k. A T r C o ., New Orleans
Interest coupon d e b e n tu re s ../ -----6 A-O
130,200 April 1 1927
(In t. at First N a t. Bank, G ulfport.
Bonds.— T he bonds o f 1905 are subject to call on Oct 1 in any year at
105; no sinking fund, interest on 2d m ort. Is payable at First N a t. Bank,
G u lfport. Bonds have no 8. f. and are not subject to call. Tho Biloxi
Electric Railway A Power bonds are subject to call at 106 and interest.
E A R N IN G S .— For year ending June 30 1918, gross, $283,361; net,
$59,493; taxes, $15,207: int., $98,913; deficit, $54,5-19. In 1917, gross,
$269,736; net, $104,267.
R O A D — Operates 13 miles o f track from Gulfport to Biloxi and 11 miles
from Gulfport to Pass Christian; also 6 miles o f track In Biloxi; total, 30 m .
O F F IC E R S .— Pres., W . T . Stewart; V .-P ., Jns. Van Ciooster; Sec., J. C .
Simpson; Troas., P. A. SUlwell; Gen. M g r., W . F. Gorenflo, all o f G ulfport.
— V . 83. p. 95; V . 105, P- 290.
HAGERSTOWN, MD.
THE HAGERSTOWN
& FREDERICK
RV
CO.
O R G A N IZ A T IO N .— lucorp. A pr. 7 1913 In Maryland as a consolida
tion o f the Frederick R R ., Frederick Gas A El. C o ., M yersvlllo & C atoctin R y ., Hagerstown R y ., Hagerstown & Boonsboro R R ., Hagerstown &
M yersvlllo R R .. H agerstow n* N orthern R R . arid Frederick A Hagerstown
Power C o. V . 96. p. 947. 1422. In 1914 purchased properties of the Frostburg Ilium. A M fg. C o. In 1916 acquired control o f the Potom ac L t. A
P ow . C o .. Martlnsburg, W . Va. (V . 104. p. 163.) Franchises aro per
petual or extend at least 15 years beyond life o f bonds
On N ov. 30 1917 acquired control o f the Oharubersburg Greoncastle A
W aynesboro Street R y. C o ., which see below, and issued $300,000 collateral
trust 5 % gold notes In connection therewith. V. 105, p. 2365.
On M ay 7 1917 the shareholders unanimously approved the plan pre
sented by tho voting trustees providing (a) for the retirement o f the tnen
existing $1,226,000 F °/ convertible adjustm ent bonds, $635,000 7% cum
>,
prof, stock and $2,000,000 com . stock; (o) issuance in lien thereof o f $600,000
10-year 6% notes, $812.500 6% cum . prof, and $1,512,950 new com . stock.
T he voting trust, Frank A. Furst, Henry Holzapol and William H. M cCardoll, trustees, was to be dissolved. This plan was consummated on M ay 9
1917. Early in 1918 Issued $228,000 1st A Hof. M . bonds which have been
pledged for construction purposes.
Fares.— In July 1918 increased zone fares from 5 to 7 cents.
STOC K A N D B O N D S —
Date.
Interest. Outstanding.
Maturity.
C om m on $2,000,000 ..................................................
$1,512,9.50 .....................
Proforred 8% cu m u la tiv e ($ 5 0 )------— -—
842.500 ___________
1st A ref M $10,000,000 ($ 10 0 .1 1914
6 g A-O
1,329.000 Apr 1 1944
$500 A $1,000) g s f.c .c p t jF id e lity T r .C o ..B a lt.,T r . In t.pay In Balt.
Hager A M yers Ity $125.1)00.
1904
5%
120,000 July 1 1924
Hagers A Boorish Ry 1st MJ
1902
5 F-A
110,000 Feb 1 1922
$120,000 ($500 A $1,000)0*1 in t. at M aryland S. A T r. C o ., Hagerstown.
Hagers A N or RR 1st m tge)
1908 5 g F-A
200.000 Mar I 1927
Int. at Maryland 8 . A Tr. Co., Hagerstown.
Trustee, Wra. Jennings.
1905 6 g J-J
126,000 Dec 11936
Fidelity Trust C o., Baltimore. Trustee.
1904
5 J-J
179 000 July 11929
Interest at West End Trust C o., Philadel
phia. Trustee.
1908
6%
30,000
1925
Steiner Schley A Leonard Waesche of Fred
erick. M d., Trustees.
Frostburg ill A Mfg 1st M l 1899
5 J-J
60.000 July 1 1929
30-year bonds.................... Int. at First Nat. Bank, Frostburg Md
Collateral gold notes $3()0.000c 1917
6 M-S
300.000 Sept 11932
N otes......................................... 1917
6%
600.000
1927
Slock.—The pref. stock is redeemable at par and dividends.
$2 0 0 ,0 0 0 gold ($ 1 .0 0 0 . $500
and $ 1 0 0 ) ...............c *
Fred A Middletown 1st mtge
$250,000 gold ($ 1 .000)., .c
Fred Gas A Klee 1st M $200,
000 g (S600AS 1,000) g.pAI
by Fred RR; not sub to call
Monocaey Valloy Ry first
mortgage.............................
51
Bonds.— Of the new $10,000,000 mtgo., $815,000 are reserved to retire
prior liens and remainder for additions, impts., Ac., under certain re
strictions (V. 98. p. 1694; V. 104, p. 163). Reserved bonds when issued to
bear Int. at rate or rates not exceeding 6 % or less than 4%
Sinking fund
beginning Oct I 1919. payable semi-ann.; till Oct. 1 1926. 1% of 1st A ref.
6 s and prior liens; 1927-1934, 2% ; 1935-1944. 3%
Red. at 105 and int.
on any int. date. Tax refund in Pa. The Hagerstown A Boonesboro Ry.
bds. are red at par Hagers. A Nor. RR. bds. are subj.tb call aft. 1917.
Fred. A Mldd. bonds are red at 105 on any Int. date. Fred. Gas A El.
bonds are guar., p. A L, by Frederick R R .
EARN ING S.— For years ending Dec. 31:
Year—
Gross.
Net.
Deductions.Survlus.
1917.......................................$604,711
$246,688
$184,766
$61,922
1916_____________________ 530.505
224,556
165.819
58,737
186.438
132 581
53.857
1915...................................... 442.958
ROAD.— Operates street railways in cities of Hagerstown and Frederick;
M d.. and an lnterurban railway extending from Frederick to Hagerstown,
with extensions from Frederick to Thurmont, M d .. also from Hagerstown to
Shady Grove, Pa. and with branch lines to Boonsboro and to Jefferson. M d.
Mileage operated aggregate* 91.fi miles. The controlled Chatnbersburg
Greencastle A Waynesboro Street Ry. operates 31 miles of track from Blue
Ridge Summit to Chambersburg. The extension from Chamberehurg to
Red Rridge Park was leased to the Chambersburg A Shippenburg Ry. of
Chambershurv, Pa
OFFICERS.— Pres.. Emory L. Coblentz, Frederick, M d., V.-Pres.,
Henry Holzapfel Hagerstown: Sec.. M . P. Moller Hagerstown: Treas.,
Thomas H. Haller, Frederick; Gen. M gr., M . A. Pooler.— V. 102.p. 1811;
V. 104, p. 163, 1863, 2010; V. 105, p. 389. 909, 2365: V. 106, p. 2757.
(a) Chambersburg Greencastle & W aynesboro Street Ry — On
Nov. 30 1917 the Hagerstown A Frederick Ry. acquired control.
ORGANIZATION.— Incorporated In Pennsylvania on June 17 1901; also
owns a turnpike road, 43 miles, capital, $100,000. and an electric-light
plant, capital, $30,000.
Outstanding
Maturity
8 TOCK AND BONDS—
Date.
Interest.
Common $300,000______. . . . ____
—_____
$300,000
300.000 ................. ..
Preferred $300,000 n o n -c u m ..____
5 g J-J
300.000 July 1 1933
First mortgage $300,000 gold 1903
($ 1 0 0 and $600).......... c*tf Interest at Chambersburg Trust Co.. Trtutee
299.500 Oct 1 1937
Second mortgage $.300,000 1907 5 g A-O
( $ 1 0 0 and $600) geld--c*tf Int. at Chambersburg Trust Co.. Trustee.
1910 6 A-O
193.900 Apr 1 1940
1st ref mtge $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0
___- ____________________ Int. at Chambersburg Trust Co . Trustee.
and $600)________
tf
Bonds.— First mtge. bonds nave no sink. fd. and are not subi to call.
2d mtge bonds are subj to call on any int. period at 105. No sink. fund.
Remaining 1st ref bonds are reserved to take up underlying bonds and for
extensions and improvements
EARNINGS.— Years ending Dec. 31:
Chnrors
Surp us.
Year—
Gross.
Net.
$55,794
$3 ,664
1917.......................................... $190,630
$90,458
45.067
31.501
1916
_____ _____ - ..............130,3*2'
79.568
ROAD.— See Hagerstown A Frederick Ry. above.
OFFICERS.— Free., Emery L. Coblentz; V.-P., W L. Minick; Sec •
D. N. Benedict; Treas., J. P. Shank; Asst. Treas. A Div. M gr., R. D
Sefton; Gen. M gr., M. A. Pooler; Gen. Aud., R. E. Town. V. 90, p.
236; V. 92, p. 186; V. 105. p. 388.
HAMPTON, VA.
NEWPORT NEWS & HAMPTON RY.. GAS & ELECTRIC CO.
Allen A Peck, Inc., of Syracuse, acquired control of the common stock
In June 1916 at $30 per share.
About 10,500 shares of the common stock
have been placed in a voting trust for 5 years (to 1921). Voting trustees
are: Moreau Delano, New York; B. Howell Griswold Jr., Baltimore, and
O. Loomis Alien, Syracuse.
ORGANIZATION.— This company was organized in 1914 as the consoli
dation of the Newp. News A Old Pt. Ry. A Elec. Co.. Citizens’ Ry Light
A Power C o., Hampton Roads Traction C o., Newport News Gas Co. and
the Hampton Phoebus A Fort Monroe Gas Corporation and provides rail
way. ga* and electric light and power facilities for the Virginia Peninsula.
Franchises.— For electric light and power, perpetual, for street railways,
practically none expires before 1944. Gas franchises In Newport News are
perpetual, subject to right of purchase of property by city (for 6 mouths in
1927). in Hampton gas franchise expires In 1936. Interurbari lines largely
on private right of way
The Hampton A Langley Field Ry. waslncorp. in Virginia In Feb. 1917
with $25,000 capital (increased in Oct. 1917 to $100,000 to bu'ld a line
3.1 miles long between the points named. Thp line will be built and opera
ted under traffic agreement by the Newport News A Hampton Ry.. Gas &
Electric Co.
In August 1917 the authorized capital stock was increased from $1,125,
000 common and $1,250,000 6 % cum. pref. stock to $2,000,000 common
and $2 000.000 7% cum p-ef. stock. In Dec. 1917 the $1 ivio.OOO 6 %
pref. stock outstanding was exchanged for $850,000 7% pref. and $150 000
com. stock. The pref. stockholders have agreed to take $250,000 addi
tional pref. stork at par. to be Issued for construction requirements. $6,900
ol this stock bad been Issued to Dec. 8 1917. V. 105 p. 2272.
STOCK AND BONDS—
Date
Interest. Outstanding
Maturity
SI.275.000 M a y ’ 175%
Common $2,000,000 .......................................
Preferred $2,000,000 7% c u m . ---------------850.900 See text.
1st A ref M 17,500,000 gi$100 i 1914
5 g J-J
3.734 O < Jau 1 1944
0>
$500 A $1,000)____ c* tf/M aryland Trust Co. of Baltimore. Trustee.
N ewport N eu s A Old Pt Ku. A El.—
First mortgage $900,000 gold I 1898
6 g M -N
900.000 Nov 1 1938
($1,000 each)........ .. _c* tf (Interest at Alex. Brown A Sons, Balt., M d.
General mtge $4,000,000 gold/
1901 5 g M - 8
14.000 Mar 11941
($1,000 each)__________ c*?Int at Alex Brown A Sons. Baltimore. M d.,
'
( or at company s agency In New York.
First mtge Citizens’ Ry LA P| 1900 5 g M -N
69 0(X. May 1 1940
$800,000 ($1,000) gold--C*( Maryland Trust C o.. Baltimore Trustee.
Guaranteed prln A Int. . . . Interest at Alex. Brown A Suns Baltimore.
HamptoD Road* Trar Wt M . 1905 4 H J-J
6 8 000 Jan
1
1930
Bonds.—Of thf first and ref bonds, SI ,081,000 »re reset vi«l for prior lien#
as above,$3,00n are In treasury and the remaining $2,682,000 are for Impts.
A oxta Bonds subi to call at 105 A Int. on any Int day upon one month’s
notice. Int payable at Alexander Brown A Sons, Baltimore or company's
agency In N. Y. The Maryland Tr. C o., Balt., Is trustee of both the first
and general mortgages of the Newport News A Old Point Railway A
Electric. The Newport News A Ola Point bond* of 1898 are subject to
call at 110 on any Interest day at 60 days notice. The Citizens’ Railway
Light A Power Co. bond* are subject to call at 111) on any interest day on
61) days' notice. Remaining Newport Nows A Old Point Ry A El. gen.
M. 5s, Citizens’ Ry. L. A I’ . 1st M. 5s and Hampton Roads Trac 1st M .
4Hs are deposited under the Newport News A Hampton Ry.. Gas A Elec.
1st A ref. M .
Dividends.— DIvs. have been paid regularly on pref. stock. A div. of
3% on the common stock was paid July 1 1916; In 1917, May, 5% .
EARNINGS.— For year ending Dec. 31:
Calendar
Gross
NeHafter
Other
Interest.
Balance.
Year—
Earnings.
Taxes).
Income.
Units Ac
Surplus.
1 9 17 ..........$1,357,308
$540,284
$2,917
$255,918
*$287,284
1916 ............. 1.013.712
419.650
3.273
234.491
*188,432
I.atest Earnings.— For 6 months ending June 30:
19 18 ......... $914,848
$209,194
$3,953
$122,410
$150,737
1917 . ...........
553,647
206,856
1,177
123,166
84,867
* From tho surplus as above In 1917 and 1916 there was deducted $106,619
and $71,209. respectively, for depreciation, leaving $180,665 in 1917
against $117,224 in 1916.
PR O PFR TY.— Owns and operates 48.59 miles of track. Power plant
with 10.300 k. w. capacity; 2 gas plants; electric-lighting system.
OFFICERS — Pres I N ShamiMliau, Vice-Pres A G
>*n Mm E .F .
Pock; Treas., W m. Stewart; Sec., Richard M . Booker, all of Hampton.
Peck-Shanahan-Cherry. Inc., operate the road.— V. 105, p. 716, 812, 998,
2272; V. 106, p. 602, 1231, 2117; V. 107, p. 1101.
H A N O V E R , PA.
HANOVER & McSHERRYSTOWN STREET RAILWAY CO.
In Nov. 1916 control was acoulred by the Keystone Utllltie* C o., which
see under Scranton, Pa. Operated by United Service Co.
ORGAN IZATION .— Incorp. in Penna. In 1892. Its charter runs for
9 9 9 years. Owns all the ($100,000) stock of the Hanover Light Heat A
Power Co.
ELECTRIC RAILWAYS
52
Fares.— In August 1918 increased fares to 6 cents.
STOCK AND BONDS— Dale.
Interest.
Outstanding.
Maturity.
Stock $200,000 ($50)____ ________
_______
$135,000 D e c .'17. 9%
First mtg $500,000 g ($1,000)1 1908
5 g J-D
400,000 June 1 1928
subject to call at 105-.c*tf [Interest at York Trust C o.. York. Pa.. Trus.
Bonds.— Of remaining bonds $100,000 are reserved for extensions, Ac.
Dividends.— In July 1894. 2>i% ; in 1895. Jan.. 2H ; 1897-1902 records
loet. 1903 and 1904 none. In 1905. Jan.. 6 % . In 1900 and 1907. none;
Jan. 1908 to Jan. 1913, Incl.. 0% per annum. Iu July 1913 50% stock
div. paid; Jan. 1914 (reg.), 4% ; July, 2% . In 1915, Jan., 3% . In Dec.
1917, 9% ; nono since. *
EARN ING S.— For calendar years:
Year—
Gross.
Net, after Tax. Bond Ini., &c. Balance.
1917.................................
$122,890
$41,407
$20,399 sur.$21,008
1916-------------- ----------- 46,242
20,293
20,603 def.
310
ROAD.— Owns 11.6 miles of track In and between Hanover, McSherrys
town. Llttlestown and Conewago Chapel. Standard gauge. 05-lb. T and
girder rails.
OFFICERS.— Pres., J. E. Weissonfluh: V. P.. W. O. Sharp; Sec. &
Treas., F. B. Atherton.— V. 100. p. 1257: V. 103. p. 2340.
[Vo l . 107
(2) Dover Somersworth & R ochester St. Ry.
All tho stock and $226,000 bonds owned by New Hampshire Bloc. Rys.
ORGANIZATION.—Chartered under the laws of Now Hampshire. Is
a consolidation of the Union Elec. Ry. and tho Rochester St. Ry.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $375,000 ($ 1 0 0 ) ...............................................
$375,000 ...................
First mtge g $300,000 ($1,-7 1901
5 g J-J
see text July 1 1921
000); bds cannot be called! Int. at Amer. Tr. C o., Boston, Trustee.
Bonds.— All the bonds except $74,000 are owned by Now Hampshire
Elec. Rys. Co. Sink, fund of $5,000 per ann. began In 1904.
EARNINGS.— For calendar year 1917, gross, $118,379; not, after taxes
$17,972. In 1916, gross, $116,161; net, after taxes, $22,748.
ROAD.— Owns and operates about 21 miles of line.
OFFICERS.— Same as for Massachusetts Northeastern St. Ry.
HAZLETON,
PA.
W ILKES-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 C o.'s
H A R P I S B I I P fl R A I l W A V g
5% certificates of Indebtedness and $922,200 of the $1,000,000 stock of
ORGANIZATION.— Incorp. in Penn, on Nov. 29 1912 and merged
the Wilkes Barro S Hazleton Rail
the Central Pennsylvania Traction Co. (see “ Electric Railway” Section of the Lehigh Traction Oo. as security for murtgzge 5% gold cbonds
road Co. Issue of first collateral trust
V. 72.
Sept. 1912) and Its subsidiaries. V. 90, p. 202.
p- 1281. Franchises are 999 years In and around Hazleton and perpetual
Strike.— On July 10 1910 the company’s men went out on strike and
operations were hampered for about four weeks, but early in Sept. 1910, from Hazleton to Wilkes-Barre. 1914 Interest on tho collateral trust mtge.
Interest on Bonds.— The May 15
Pres. Musser reported that service and receipts were back to normal
Fares.— In Sept. 1918 filed with the Penn. P. S. Comm, a new tariff of 1901 due May 15 1951 was not paid when duo. In lieu of paying tho
Interest bondholders were requested to surrender their coupons, due May 16
providing for a 6 -cent fare effective Oct. 1 1918.— V. 107, p. 1192.
1914 to Nov. 15 1910. and In return
non-lnterest-bearfng
STOCK A N D BON DS —
Date.
Interest. Outstanding.
Maturity. certificates for the coupons as they the company IssuPdV. 9K. n. 1539. The
become due. See
Common $3.000,000..........................................._.
$3,000,000 __________
default was the result of a strike of the employees of the Lehigh Traction
Pref 0% cum $2.100.000-..............
See text
2.100.000 O et’ 17 1%
C o., a subsidiary. n he Interest duo May 15 1914 was paid June 15 1916,
First A ref. mtge $10,000,0001 1912
6 J-D
3.109,900
1963
and that duo Nov. 15 1914 was paid Nov. 20 1916. A supplemental agree
($1,000 and $500)_____ tf/Harrisburg Trust C o.. Trustee.
15 1918, was mado between the company and tho bond
Citizens’ Passenger first mtge 1 1894
0 g M -N
75,000 May 1 1924 ment, dated Fob. tho remaining unpaid past-duo coupons were extended for
holders by which
$75,000 g o ld ------------------- lint, at Com ’w'th Guar. Tr. C o.. Harrisburg.
a further period of five years, or a total of eight years from the date on
STOCK.— Pref. stock was cum. at 5% until Jan. 1 1915; since, 0% .
Dividends.— 3H % was paid on prof, stock In 1913. In 1914. 5%
In which they originally fell due. Coupons affected aro those for May 15
1915,
1915, April, 2 H % ; O ct., 1% . In 1916. April, 1 H % . In 1917. April ,B 4 % ; duo. Nov. 15 1915, M ay 15 1916 and Nov. 15 1916. 1917 int. paid when
M ay 1918 interest was paid when duo.
Oct .1 % . Nono since.
STOCK AND BONDS— Dale.
Interest. Outstanding. Maturity. ;
EARN ING S.— For 7 mos. end. July 31 1918 and calendar years:
Common $2,500,000 ($100).............
............
$2,500,000 ...................
Total
N et
In i., Rents., Pref. Balance,
Pref 0 % non-cum $700.000_
_
...
185.6'J)
_________
Period—
Earnings. Earnings. Tax& D epr. D ies. Surplus.
7 mos. to July 31 1918-- $748,128 $328,399 $299,722
None $28,677 Collateral trust mortgage $2,-1 1901 5 g M -N 15 1,900.000 May 151951
500.000 gold ($1,000)_ c*|Int. at Guaranty Trust Oo , N Y..Trustee
_
Calendar year 1917-------- 1,191,099 581,684 489,2S5 $57,750 34,649
Collateral trust mortgage $1.-1 1905 5 g A-O
1.227,000 Oct 1 1945
C.iYndar year 1916-------- 1,033,802 569,264 489,991
31,500 47,773
500.000 gold ($1,000)___ c ! Int. at Guaranty Trust Oo. N. Y .. Trustee,
■ >AD.— Owns 12.47 miles and leases 61.04 miles o f lino. Total op
Bonds and Stock.— Of the authorized Issue of $2,500,000 coll. trust bonds of
era. d, 73.51 miles.
1901. $600,000 are r(*served to retire all bonds of the Lehigh Traction Oo. A
OFFICERS.— I res. A Gen. M gr., F. T). Musser,- Harrisburg; V -P
B. F. Myers; Sec., John O'Connell. Office, Harrisburg.— V. 96, p. 209; sinking fund of $20,000 per annum, which began June 1 1908, Is to be In
vested In the collateral trust bonds or In bonds purchasable by savings
V. 98, p. 155; V. 101, p. 1013, 1272; V. 104, p. 1591; V. 107, p. 1192.
banks In New York State. See V. 72. p. 1281; V. 78. p. 289. The collateral
trust bonds of 1905 have a sinking fund of $10,000 per annum, which began
VAI l.FV RAM.WAYS.
ORGAN IZATION ,— Incorporated In Pennsylvania In July 1912 aDd in In 1910. Bonds can be called at 110. Preferred stock can. at option of
Sept. 1912. after Increasing its stock from $10,000 to $2,500,000 (of which company be changed at any time Into the bonds of the company, at par,
$500,000 Is 0% cum. pref.), purchased control of the Valley Traction Co., fald bonds to bear not less than 5 % , or may bo rod. at par In cash.
which In turn controlled the Harrisburg A Mechanlcsburg Elec. Ry., White
EARNINGS.— For cal. year 1917 (Incl. allied companies), gross, $499,
Hill A Mechanlcsburg Pass. R y., Carlisle & Mechanlcsburg 8 t. Ky., West 141; net, SI 18,155: interest, $189,792; taxes, $16,244; def., $87,881. In
Falrvlew A Marysville Elec. St. Rys., Harrisburg A Riverton St. R y.,
1916, gross, $487,359; net, $219,968; Interest, taxes and ronowals, $222,640;
Falrvlew & Riverton Ry. and the United Electric Co.
def., $2,672.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity■
OFFICERS.— Pres., A. Markle: V.-P. A Gen. M gr.. O. B. Houck;
Common $2,000,000 ($100).............
............
$2,000,000 ..................
Sec.. N. C. Yost; Asst. Sec., A Markle Jr.; Treas., Wm. II. Remick.—Pref cum $500,000 ($ 1 0 0 )...............
0%
600.000 .....................
V. 83. p. 1292; V. 87, p. 679; V. 98. p 1539.
Collateral trust $1,700,000 tf 1912 6 %
1,000.000 Aug 3 1952
(1) Lehigh T raction C o.— A trolley road.
Valley Trac 1st M $700.0001 1903 5 g A-O
700,000 Oct 1 1933
ORGANIZATION.— Chartered N ov. 7 1892. Franchise perpetual.
gold ($100 & $500) ..c * n t f jln t. at Farmers’ Tr. C o., Carlisle, Pa., Trus.
Bonds.— Remaining coll, trust bonds ($700,000) are reserved to retire Owns, controls and leases for 999 years at an annual rental of $1 each the
prior liens. Valley Traction bonds are subject to call at 110. A sinking Hazleton A Suburban Electric Ry., capital $30,000; Hazleton A South
Side Electric Ry., capital $75,000: Hazleton & North Side Electric R y..
fund of $5,000 per anuum commenced Oct. 1 1908.
EARNINGS.— For year ending Dec. 31 1917, gross, $329,809; net, capital S75.000. The $140,000 certificates of Indebtedness and $922,200
of Lehigh Traction stock are deposited as security for tho Wilkes-Barre S
c
$153,615. In 1916, gross, $303,460; net, $148,389.
R O A l).— Operates 44 miles of road from Harrisburg to Marysvlife and Hazleton RR. bonds of 1901.
to Carlisle.
STOCK AND BONOS—
Date.
Interest. Outstanding. Maturity
OFFICERS.— Pres. 9c Gen. M gr., C . H. Bishop. Lemoyne, Pa.; ec. A Stock $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 )..
.......
.............
$1,000,000 ...................
Treas., C . M . Davidson. General offices. Lemoyne.— V. 96, p. 64
First mortgage $500,000 gold) 1893
5 g J-D
500.000 June 1 1923
<5100. $500. $1,000).. .c*/M arkle Bkg. & Tr. C o., Hazleton, Trustee.
___
_______
140.000 ___ _____ _
Certificates of Indebtedness.
Hazle Park bonds. $00,000___ 1895
5 g A-O
00.000
1925
Equip trust ctfs. Scries \___ 1915
F-A
42.000
1925
NEW HAMPSHIRE ELECTRIC RYS.
ORGANIZATION.— A voluntary association succeeding the New ITamp
I’ he equipment (rust certificates cover 1 0 stool cars and mature $3 , 0 0 0
ehire Traction Co. on Aug. 24 1905. Owns all the stock of the following seml-ann. Penna. Co. for Ins. on Lives S Granting Annuities, Phlla., Pa.,
c
Is trustee.
companies: In New Hampshire. Dov.. Some: -worth S Rochester St. Ry
c
Co.; Rockingham County Light & Power Co.; Newmarket Electric Co
R O A l).— Operates 22 miles of track, new 90-lb. steel T rails, oak ties, well
(V. 103, p. 499); Granite State Land Co.; in Maine. Kittery Electric Light
extends from Hazleton to West Hazleton,
C o.; in Mass., Mass. Northeastern St. Ry. Co. Also owns all the bonds of ballasted. Road Pennsylvania RR. and Lehigh Valley R R .),totoYorktown
(connecting wlti
McAdoo
the Dover Somersworth & Rochester St. Ry. (except $74,000). of the (south) and Mllnesville, Latimer Mines and Freeland (north).
Amesury A Hampton St. Ry. (except $47,000) and of the Citizens' Elec
O FFIC E R S.—Pres., A. Markle; V .-P., O. B. Houck; Sec. and Treas.*
St. Ry. (except $230,000).
N. C . Yost; G ,n. M gr., O. B. Houck.—V. 99. p. 984, 1598. 1073.
STOCK—
Date.
Interest. Outstanding.~ Last Div
(2) W ilkes-Barre & H azleton R y.— A trolley,steam and third-rail road
Common $4,000,000 ($100)..............
.............
$3,900,200
Pref 4% n-c. $4,000.0(10 (StOO) .......
J-J
3,399,500 July ’ 17.1%
O R G A N IZA TIO N .—Chartered Dec. 13 1899 under General Railroad
DIVI DENDS.— Company paid 1% each 6 mos. ori pref from July 1908 L iw Act nr \prll I 1888. State of Pennsylvania. Tho Wilkes-Barre &
to and Incl. Jan. 1910.; July 1910 to Jan. 1912, 1)6% s.-a.; July 1912 tu Hazleton RR. owns the entire stock and bonds.
July 1915. 2% s.-a. In July 1916, 2% . In 1917. 3% . None since.
STOCK \NrO
Interest. Outstanding. Maturity.
OFFICERS.— Pres.. D. A. Uelden. Haverhill; V.-P . M . N. Buckner, Stock $1,600,000 BONOS— _ Date.
full p aid ..
.............. .. .. ..
$1,500,000
............ .
New York: Sec. and Treas., F. J. Horne. Now York.— V. 103. p. 493
First mortgage$1,600,0001 1901
5 g M-N
1,500.000 May 1 1951
(1) M assachusetts N ortheastern Street Ry.
gold------------ ------------ ------ (Interest at Guaranty Trust C o , N . Y .,T ru s..
All the stock of this company Is owned by the New Hampshire Elec. Rys. Equip trti'-f ctfs.Sorles V . . 1915
F-A
56.000
1925
ORGANIZATION.— A Mass, corporation. Owns and operates a local
lhe equipment tr ist certificates cover 1 0 new steel cars and mature
and Interurban railway in Northeastern Mass, and Southeastern N. H. $4,000 semi inn. Penna. Co. for Ins. on Lives & Granting Annuities.
Maintains a through service between Haverhill. Lawrence. Lowell. Nashua. Phlla., Pa., Is trustee.
Amesbury and Nowburyport. Power Is purchased from the Rockingham
ROAD.- -Owns 27 miles of road from Hazleton to Wilkes-Barre, and uses
County Lt. St Pow. Co. under a contract extending beyond July 1 1934.
for terminals 1 mile Lehigh Traction Oo. track at Hazleton and 3 miles
Fares.— On N ov. 1 1916 was authorized by the P. S. Comm, to increase
track at Wilkes-Barre; total, 31 miles.
single cash fares from 5 to 6 cts. and the price on ticket books by 20%. Wilkes-Barre Terminal RR. Co.May 1 1903. Ralls, 95 lbs.
placed In operation
On July 1 1918, however, was auth. to go back to the 5-cont faro and Entire roadIts — Pres., A Ivan Markle; V.-P (and Gen. M gr., C. B. Houck:
OFFICE
adopt a zone system under which present faro sections arc divided into Sec. and Treas., N. C. Yost.
two zones with a minimum cash faro of 5 cts. for eacli zone or portion
(a) Wilkes-Barre Terminal RR.
thereof; tickets, good for certain hours* o f tho day, aro sold at the rato
Entire rock and bonds owned by W. B. S nazloton RR.
c
of 10 for 75 cts. In Aug. 1918 applied to tho I.-S. O. Comm, for auth.
to Increase commutation rates over certain linos. For details see V. 107,
ORGANIZATION.— Incorporated on Oct. 9 1903. Stock authorized
p. 802. In Sept. 1918 filed with tho Mass. P. S. Comm, a new tariff effec and outstanding. $35,000 (par $50). Bonds authorized. $000,000 (cAr):
tive Oct. 14 1918, increasing fares from 5 cents to 6 cents. V. 106, p. 1192. Date 1905: due Oct. 1 1945. fnt. (5 g. A-O) payable In New York.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
R O A D .—3 miles, between W. B. Ter. RR. June, and Wilkes-Barre,
Common stock ($100)_______ _____
_________ $1,600,000 _____ __ . .
Ralls, 95-lb. T ; gauge, 4 ft. 8 ) 6 Iu. Pres., O. J. Klrschuer; Sec.-Treas..
Pref 0% cum($100).............................
0%
005.000 ..................... N . O. Yost.
First and ref M $2,000,000/ 1914
5 g J-J
807.000 July 1 1934
($1,000) gold----------------c*\Int. at Ainer. Tr. Oo., Boston, Trustee.
Citizens' Elec St Ry 1st M 1900 5 g J-D
230,000 Dec 1 1920.
THE HELENA LIGHT & RAILW AY CO.— Trolley, electric light and
$230,000 gold..................... Beacon Trust C o., Boston, Trustee.
Amesbury S Hampton 1st M 1899 5 g A-O
c
03,000 Oct 1 1919 power, gas light and fuel.
gold $ 1 0 0 ,0 0 0 ($ 1 ,0 0 0 ) ____lin t. at Beacon Tr. Co., Boston. Trustee.
.
___________
ORGANIZATION.— Incorporated In Connecticut In Sept. 1905 as sue*
Bonds.— The 1st Sc ref. 6 s of 1914 are rod. at 110 and int. on any Int. date cessor to the Helena Light & Traction Co. V. 81, p. 1043. Controls tho
on 43 days' notice. Of the remainder of these bonds auth., $293,000 are Helena Gas Light A Coke Co.; comprises the city’s entire street railway,
reserved for prior liens and $900,000 reserved for cost of additions and and gas and oloctrlc-light plants. Franchises oxplro April l 1920.
lmpts. under certain restrictions (V. 100. p. 55).
Decision.— The Montana Sup. Court in Feb. 1913 hold that city could
EARN INGS.— For year ending Dec. 31 1917, gross, $850,823; net, after not enforce an ordinance which required the company to light Its tracks
taxes, $111,270. In 1916, gross, $781,120; net, after taxes, $153,976.
within the city limits without expense to the city—see V. 90, p. 1422.
ROAD, Ac.— Owns and operates about 120 miles of single track (80 miles
Fares.— In July 1918 applied to tho Montana Utilities Comm, for auth.
In Mass, and 40 in New Hampshire), extending east and west from Haver to increaso fares from 5 conts to 10 conts.
hill. Mass., entering on.the east Newburyport, Morrlmac, Salisbury and
STOCK
Date.
Interest. Outstanding. Maturity.
Amesbury, Mass., and Plalstow and Newton, N. H., and on the west Common $AND BONDS—
9 0 0 ,0 0 0 ..........................................
$501,000 Fob '18 1%
Lawrenco, Methilen and Dracut, Mass., and Salem, Pelham and Hudson
Preferred $000,000 5% cum.............
5 Q-F
374.000 Aug' 18 IW
N. H. Enters Lowell and Nashua under trackage rights. Owns aud oper First mortgage $1,500,0001 1905
5 g M-S
1,043,000 Sopt 1 1925
ates local lines In Newburyport and Amesbury. Connects with the Bay
gold ($1,000)--------------- c*/In t. at Columbia Tr. C o.. N. Y ., Trustee,
State St. Ry.. Manchester A Nashua St. Ry. and the Exeter. Hampton
c
Bonds.— Tbe 1st
subj. to call at
$219,000
9c Amesbury St. R y. Also owns a large amusemont park on Oanoblo Lake reserved for extens.M . bonds areat 85% of cost,105 and Int.; In additionare
and lmpts.,
and $56,000
to
In Salem, N. H. 80 open and 49 closed cars and 25 work cars and snow amount reported outstanding aro In treasury. A sinking fund of 1 )$ % per
plows.
of bonds out commenced Juno 1 1908 and was increased to 2)6%
OFFICERS.— Pres.. D. A. Belden: Treas., F. E. Webster; Gen. M gr., ann.annum June 1 1918; said fund to be used In retirement of bonds at not
per
Franklin Woodman.— V. 103, p. 2078, 2238; V. 107, p. 802, 402, 1192.
higher than 105 and Int. See V.81. p. 1550. $182,000 have been retired.
HARRISBURG, PA.
HAVERHILL, MASS.
HELENA, MONT.
53
ELECTRIC RAILWAYS
Se p t , 10' 8. |
Dividends.— Five per cent per annum In quarterly Installments la being
paid on pref. stock. First dividend on common 1% paId Oct. 31 1900.
In 1907 3 % . In 1909,3% . In 1910. 4% . In 1911 and 1912. 5% . In
1913 5 % / In 1916 and 1917, 2% . In Feb. 1918, 1%. None since.
EARNINGS—
Gross
Net ( alter
Interest,
Balance,
Calendar Year—■
Earnings.
Taxes).
Ac.
Surplus.
Calendar rear
...........3346,836
$124,697
$78,212
$46,485
in 1 .........................: I — 329495
111,339
70.225
41.118
iniesl'Earnings.— For 12 mos. ending Juno 30 1918:
1917—
18-- - - - - - - - - - - - - - - - -$334,026
$ 91,483
$67,788
$23,695
KOAD.— Operates 23.55 miles or track.
OFFICERS — Pros., P. G. (Jtossler; V.-Ps., J. IT. Pardoo, A. Coppell,
B B. Marchant and O. W. McConnell: Sec. & Treas., T . W . M offat:
Asst Soc., 11. B. Brown (all of Now York), and Asst. Soc. & Asst. Treas.,
A B Siblov Itolona. Operated under the general management of J. G.
White Mgt Oorp., N ow 'York City.— V. 91, p. 1095: V. 96, p. 1422;
V. 106, p. 1035; V. 107, p. 181.
--------vm
-------- •
HOLYOKE, MASS.
HOLYOKE STREET RAILW AY.— Trolley.
ORGANIZATION — Incorp. In Mass. June 11 1884. Leases the M t.
Tom (Incllno) RR. until June 1 1922 at 6% per annum on the $100,000 stock.
In 1907 purchased the Hampshire Street Ry. (previously leased). V- 85
d 40 In Aug. 1907 purchased the Amherst & Sunderland Street Ry. ( V.85,
p! 294), giving a through connection rrom Holyoke to Amherst and Sun**fr a n c h is e __Tn June 1918 it was reported that the franchise committee
of the Bd. o f Aldermen had drawn up a 20-year franchise granting the co.
the right to carry freight and express. V. 106, p. 2450.
On Feb. 17 1918 was auth. by the Mass. Public Servico Comm, to increase
fa t m w R - haUlS t0
Date.
Interest.Outstanding. Maturity, Ac.
Stock IS 100)
......................
J-J
$1,342,000 Sco text.
First m ortgager$2,500.0004 1915
5 A-O
850.000 April 1 1935
* l£nid i«i 000)
-C*) Int. at Springf. Safo Dep. & Tr. Co., Trustee
Deh bds ISSOO $T,00b)c*-ntf 1899
5 A-O
85.000 Oct. 11920
Debenture b o n d s . - n t f 1903 5 A-O
265.000 April 1 1923
Leased line rental M tT om RR
slock 6%
_________ _____
o
100,000 ---------------/•unds —$3567)00 1st M . bonds are reserved to retire the debenture bonds,
remainder Issuable for additions and impts. under certain restrictions. Red.
a U 0 7 and Int. on and after April 1 1920. V 100. p. (182
interest on debenture bonds payable at Holyoke National Bank.
Dividends.— From 1892 to 1915. inch, 8% yearly. In 1916. 6% . In
Jan 1917 3% ; July, 1H % - In 1918, Jan. 1 K % ; July div. omitted
(V. 107, p. 291).
B O A D __Has 72.31 miles o f track, Including M t. Tom (Incline) RK.
a. non feet long, and connecting with the Woronoco Street Ry. to Westfield,
Mass •with Springfield St. Ry. to Springfield, Mass., and with Northamp
ton St’ Rv to Northampton, Mass.,and direct to Chicopee.Chicopee Falls.
Hrnith'vTad'lev. Amherst and Sunderland. Passenger cars, 141: other ser
vice cars 27: snow-plows. 13: other vehicles. 7: electric motors. 269.
EARNINGS.— For years end. Dec. 31:
Cal Year—
Gross.
Net. Int..Tax..Ac. Dividends.
Bal., Sur.
1017
$717,538 $159,720 $119,001 (4 ^ ) $40,260 sur. $459
1 9 1 8 .............
695.661
206,619
112.774
(6) 80,520 sur.13,325
Latest Eatninas.— For 6 mos. end. June 30:
1918
-.--$336,404
$57,557
$59,732
None def.$2,175
71.241
54,774
$ 2 0 4 3 0 def. 3,C63
1917 I I I ________ 3 3 8 ,1 5 4
OFFICERS.— Pres. & Gen. M gr., Louis D. Pcllisier; Sec. & Treas.,
S n Ncvin: Asst. Gen. M gr., Geo. E. Pellisier; And., G. F. Dinneen,
all of Holyoke.— V. 102, p. 153; V 4 0 6 , p. 2450; V. 107, p. 291.
HOUGHTON, MICH.
HOUGHTON COUNTY TRACTION CO.— Trolley road.
ORGANIZATION.— Organized In 1908 and took over Houghton County
Streot R y., which latter company was incorporated In 1899. Does an elec
tric railway business In Houghton and Keweenaw counties, Mich., connect
ing the cities and towns of Houghton, Hancock, LaurUun. Rod Jacket.
Lake Linden and Hubbell, and the mining locations of Quincy, Osceola.
Wolverine, AHouez, Ahmoek and Mohawk. Franchises on public streets
expire In 1929, 1930, 1932, 1933 and 1938. Largely on private right of way.
$100,006 common stock owned by Public Service Investment Co.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity,
Common $750,000 ($100).................................
$750,000
See text.
Pref 6% cum $500,000 ($100)...........
A-O
207.200 Apr 4 8 . 3%
1 st consol mtgo $1.600.000f 1908
5 g J-J
719.500 Jan 1 1937
($500 and $1,000) gold_-tf lint, at Old Colony Trust C o.. Boston, Trust
Hough Co St Rv mtge $750.-1 1900
5 g J-J
266.000 July 1 1920
000 ($1,000) assumed-C*tf/Int. at Boston Safo Dep. & Tr. Co., Trustee.
Stock and Bonds.— Pref. stock Is redeemable at 110. $266 000 consol,
mtge bonds reserved for prior liens; $24,500 are in treas.; $417,000 for fu
ture additions at 80% o f cost; $83,000 owned by company; they are sub
loot to call as a whole or in part at any time for sinking fund at 105 and int.
Sinking fund l Yi% of outstanding bonds, $90,000 have been canceled. The
Houghton County Street Ry. bonds can bo called as whole or in part at
105 and int. at any time. V. 87, p. 614. $484,000 havo been canceled.
Dividends.— On prof. 3% s.-a. from Oct. 1908 to April 1918 incl. On
common 2% Oct. 1909. In 1910, April, 2H % and same amount s.-a.
tn anil lJicluiilng ApriM914. None since.
EARNINGS.— For 12 months euding Juno 30:
y,„ir__
Gross. Nel(aft.Tax.) Int.
Sk.Fd. Snec.Rrs. Surplus
1917-18
$337,477 $118,150 $49,070 $10,912 $24,048 $33,511
1Q1(V17------310.083 140,616
51,189
11,047
22,980 55,429
ROAD*—Milos of single track equivalent, 3 2 4 5 :3 4 cars and 7 plows,
standard" gauge. Power station capacity, i.OOO k. w. Also purchases
Sower from Houghton County Electric LigKt Co.
D OFFICERS — Pros., Harry T . Edgar, Boston; V.-Ps., F. J. Bawden,
Houghton and T. N. Perkins, Boston; Sec., Alvah K. Todd, Boston;
Treas Honrv B. Sawyer, Boston; M gr., E. L. Mtlliken; Gon. Mgrs.,
Stone & Webster Mgt. Assn., Boston.— V. 104, p. 1701; V. 106, p. 395.
INDIANAPOLIS, IND.
TERRE HAUTE INDIANAPOLIS & EASTERN T R AC TIO N .
ORGANIZATION.— Incorporated In Indiana on March 23 1907 and
acquired by purchase (1) Indianapolis & Eastern Ity.; (2) Indianapolis
Coal Traction; (3) Indianapolis & Western Iraction, and (4) Richmond
Streot A Interurnan Ry.
c
_.
„„„
On March 25 1907 leased the Terre TTaute Traction * Light Co. for 999
years (see terms under that company below), and In April 1907 leased for
999 years the Indianapolis & Northwestern T raction and the Indianapolis*
Martinsville Rapid Transit (soe ternis under respective companies).
In April 1910 purchased 46,717 of the 50,000 shares o f the stock of the
Indianapolis Trac. & Term. C o., giving Its own common and pref. stock
In exchange (V. 90, p. 1103. 1240); and since that time has acquired the
remainder of this stock except directors' shares. Owns a one-fourth Interest
In the United Tractions Coal C o.. Insuring the company an adequate coal
supply. See Shirley Realty Co. o f Indiana In V. 104. p. 1805
On May l 1912 leased for 999 years tho Indianapolis Orawfordsville A
c
Danville Elec. Ity. (see terms under latter company below). V 9 4 . n . 1567
Franchises.— In a letter to bankers In M ay 1910, President of tho com
pany said: " T h e great majority of the franchises under which the system is
operated extend well beyond the life of these bonds [1st & reL mtge.). The
Franchises In tho citv o f Indianapolis expire in 1933.
On May 1 1918 purchased for $121.000 tho $50,000 common and $150,000
pref. stock of tho West Indiana Utilities Co., which operates lighting plants
at West Terre Haute and Brazil, Ind.
„
„ ,, .
„ .
,
-Freight Hales.-—On May 23 1918 tho application of this co. for Increased
irovod dy t-----_ _
.. .
freight rates was approved by tho l.-S.- C._ Commission. ,
Fares.—-In Juno 1918 applied to tho I.-S. C. Comm, for authority to
Increase fares between points on its lino in Indiana and Illinois to a basis
of 2H cents per mile. V. 100, p. 2650.
stock and bonds—
Date.
Interest. Outstanding. Maturity.
Common $12,500,000 ($100)........................ $9400.000 ................................
Prirferred $ 2 500.000 ($100). 1.........................
9,100,000
See text
1 st * ref mortgage $8,060.0001 1910
5 A-O
6.500.00(1; April 1 1945
gold ($1,000) 8 r.......... C*tf [Int. at Fidelity Trust C o.. Phtla., Trustee.
Indianapolis ft Eastern Istf 1902
5 g J-J
See text July 1 1927
Cons M $1,000,000 gold)Int. at Mercantile Trust C o.. N. V ., or at
($1 000)sinking fu n d ..c*tf [ Qentral Trust C o., Indianapolis. Trustoo.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Ind & Green 1st M . $300,000) 1399
5 g J-J
$55,000 Jan 1 1929
(31,000) gold________ c*tf >Int. atO it. Savings* Trust Co., T r., Oleve.,
j or at First National Bank, New York City.
Stock.— Pref. stock is 5% cum. after July 1 1910. Should com. at any
time pay 6% , pref. will pay the same. V. 90, p. 1555.
Bonds.— Remaining 1st & ref. bonds are reserved for additions and im
provements, under careful restrictions. Callable as a whole Pom April 1
1915 at 105 and Int.. or In part, for sinking fund only at 102J* and Int.
on anv Int. date. $742,000 held In sinking fund Sept. I 1918
S.
f. $55,000 p. a. first 5 years and $106,675 p. a. thereafter; bonds
acquired for s. f. to be alive and int. added to s. f. V. 90. p. 1491.
Of the $1,000,000 Ind. * East, consols auth., $300,000 are reserved to
retire the In d .* Greenflekllst 5s. $8 0 , 0 0 0 have been canceled by sink. fund.
Of the remaining $620,000 out, $565,000 are owned by Terre Haute Ind. *
East. Trac. A sinking fund, 1% of bonds out, began July 1 1908. Fund Is
to be Invested in the company's bonds If they can be bought at not more
than 105 and Int. Bonds cannot be called. See V. 75, p. 342. On the
Ind. & Greenfield bonds. $12,500 Is payable yearly to a sinking fund be
ginning Oct. 1 1904, with which bonds beginning with N o. 1 are being pur
chased at 105 and accrued int.; $229,000 were so purchased
to
up
SOjDlPidJnJs.— Initial div.. \M % , on pref. paid Oct. 1910; same amount
quar. to and Incl. Jan. 1914. None paid since. See V. 98. p. 914.
RE PO RT.— For entire system tor calendar years:
1917.
1916.
1915.
Gross earnings.
______________ $7,116,342 $6,970,395 $6,436,317
Operating expenses and taxes_______ 4,792,925
4,383.821
4414.246
$2,586,574 $2,322,071
$1,633,547 $1,629,382 $1,628,708
159.417
162,089
145,097
Sinking funds, subsidiary companies,
27.500
27,475
27,550
int. & sk. fd. on divis. bds. of this co.
$506,446
$787,628
$493,223
$309484
$303423
$296,269
Interest on T . H. I. & E. T . bonds---128.552
135.406
Sink. fd. on T . H. I. & E. T . p o n d s ..__________ ____________ ___ 118484
B alance............................. ................
$61,548
$335,953
$79,078
Note.— In addition to sinking funds as shown above, there was paid as
Interest on bonds already held by trustees in sinking fund which was ap
plied to tho purchase of additional bonds, $84,604 in 1917, $74,600 in 1916
and $63,215 in 1915, making total received for sinking fund account by
trustees $405,982 in 1917, $386,992 in 1916, and $361,616 in 1915.
RGAD.— 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, Greencastie
Amo, Clayton and Plainfield, to the city of Indianapolis, and thence, through
tho towns of Greenfield, Kriightstown, New Castle and Cambridge City, to
the city of Richmond in Indiana; also a line running south from Indianapolis
to Martinsville. Ind.; a line running west from Indianapolis to Danville,
Ind.; a line running northwest from Indianapolis to Lafayette, with a
branch to Crawfordsville: a line running northwest from Indianapolis direct
to Crawfordsville and from Terre Haute a line north to Clinton. Ind.. and a
line south to Sullivan. Ind. Also operates the city lines In Indianapolis.
Terre Haute and Richmond. Total miles in single track: city lines. Indi
anapolis, 141.08 Terre Haute, 27.63; Crawfordsville. 1.64, and Richmond.
12-76; total, 183 4 6 Interurban lines, total, 368.22. Grand total, entire
system, 55t .33 miles.
_
,
OFFICERS.— Pres., Robt. I. Todd: V.-Ps., Marshall S. Morgan and
John J. Appel; Sec. & Treas., Jos. A. McGowan.
Directors.— Robt 1. Todd. Randal Morgan, W. Kesley Scboepf, Harry
S. Now, J. J. Appel, Jos. A. McGowan and E. B. Peck. V. 104, p. 765,
1801; V. 106, p. 930, 1231, 1901, 2650; V. 107, p. 182.
(1) Indianapolis T raction & Term inal Co.
In April 1910 control was acquired by the Terre Haute Indianapolis *
Eastern Traction. V. 90, p. 1101. 1239.
ORGANIZATION.— Incorporated in Indiana on Aug. 4 1902 with
*500,000 capital, which was Increased In Jan. 1903 to 85,000 000 to lease
the Indianapolis Street Ry. and to provide terminal facilities for all In
terurban electric roads now entering or yet to enter Indianapolis. Fran
chise is for 31 years, under the terms of which the company Is to pay the
city 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 R y. V. 75, p. 1301.
Interurban railways enter the city under agreements by which they pay
3 cents per passenger for all passengers carried in the city limits and an
additional 1 cent for those using the terminal station. V. 81, p. 264.
Owns a one-fourth interest in the United Tractions Coal Co. Insuring
the company an adequate coal supply. See Shirley Realty Co. o f Ind.
in V. 104, p. 1805.
, T ^
Valuation.— In Aug. 1913, in a report to the Ind. P. S. Comm., the co.
placed a valuation of 318,690,948 upon its tangible property and the total
valuation, including other values claimed, at $29,000,000. V. 10/, p. 096.
Fares— Decision.— On Nov. 15 1917 applied to the P. S. Comm, of
Indiana for auth. to establish a uniform 5-cent fare bv abolishing the
present rate of 25 tickets for <1 or 6 for 25 cents. On Dec. 13 1917 the
Comm, handed down the decision that it had no jurisdiction in tho matter.
On Jan. 2 1918 Judge Lewis B. Eubank of the Marion County Circuit
Court sustained the demurrer of the Comm, to a petition filed by the co.
on Dec. 16 1917 to compel the Comm, to investigate the merits of its
request for increased fare. The Court held that the franchise contract
between tho city of Indianapolis and the co. is binding and therefore the
Comm, had no power to modify rates for the duration thereof. V.106.P.189.
On July 30 1918 the State Supremo Court reversed tho decision of tho Cir
cuit Court, ruling that the P. S. Comm, had power to act on tho grounds
that an unusual emergency existed, and directed the Comm, to take up
the c o .’s petition. V. 107, p. 696. Compare V. 106, p. 189, 2649.
In Aug. 1918 applied to the Ind. P. S. Comm, for auth. to establish a
zone system of fares, based, in effect, on a charge of 2 cents per mile with
a 1-cent charge for transfers. V. 107, p. 802.
STOCK AND BONDS— Date.
Interest. Outstanding.
Last Die.
stock $5,000,000 ___________ —
J-J
1st mortgage $5,000,000 gold( 1903
5 g A-O
5,000.000 Jan 1 1933
($1,000) sink fu n d ___ c*tf lint, at Guaranty Tr. * S. D. C o., Phtla.. T r .
Bonds.— A sinking fund provides for the payment annually of 1 1-5% of
bonds outstanding, Including those In the sinking fund. SeeV. 76, p.1085.
Ronds may be drawn for sinking fund at 102 ^ and Int. and are subj. to cal.
at that price. See V. 81. p. 264. $1436.000 (included in amount reported
outstanding) held in sinking fund Sept. 1 1918.
Dividends.— First dividend on stock, 1% , was paid Dec. 31 1908; in
1909. 2% : in 1910, 2% ; In 1911. 5% : in 1912, July, 2% ; D ec., 2 % . In
1913. June. 2% : Dec.. I H % - None since.
ROAD, * c .— Has completed 24.39 miles of single track and owns 9-story
office and terminal building, train-sheds and 3 freight depots centrally
located in Indianapolis; also real estate on which same are constructed.
This terminal Is used by all Interurban roads (13 In number) entering Indi
anapolis. A new freight terminal Is to be erected. Also leases the Indi
ana polls Street R y., 116 69 miles. Owns electrical and steam equipment of
7.000 k. w. capacity. Owns 299 double-truck passenger and 113 service
cars. Also operates under lease 182 single truck and 52 double truck pas
senger cars and 5 service cars owned by the Indianapolis Street Ry.
EARNINGS.— For calendar years:
Year-—
■ Gross.
N et.
Charges.
Balance.
1917......................$3,654,634
$1,442,621
$1,467,838
def $25,217
1910
- - - - 3,638,908
1.573,779
1.451.228
sur.122.551
OFFICERS — Pres.. Robt. I. Todd: V.-Ps., Marshall S. Morgan and
John J. Appel; Sec. * Treas., W. F. Milholland.— V. 105, p. 2272; V. 106,
p. 189, 499, 2649; V. 107, p. 181, 696, 802.
(n) Indianapolis Street R.v.— A trolley system.
O R G A N IZ A T IO N .— Incorporated in Indiana M arch 7 1899. After
acquiring the Citizens' Street R R . o f Indianapolis and the C ity Railroad,
made a contract with the C ity o f Indianapolis agreeing to surrender the
rights and franchises o f both com panies and accept a new franchise running
onlv thirty-four years. T h e contract also provides that cash fares are not
to exceed five cents, with free transfers, and tickets are to be sold at the rate
of six for tw enty-five cents and tw enty-five for one dollar.
The company also binds Itself to pay over to the city (which Is to expend
(ton the public works) the sum of $30,000 yearly from 1899 to 1925. and
*50 000 yearly from 1926 to 1932. inclusive, the contract expiring In 1933—
see V. 68, p.'723. The citv sets the right to purchase the property -at
any time within two vears and not later than one year before the expiration
of this contract," nothing to be paid foe the value of the franchise. Law
sustained May 1902. V. 74, p. 936.
54
ELECTRIC RAILWAYS
(Vo l . 107.
As to the three-cent fare case, which the U. 8 . Court of Appeals decided
(4)
Indianapolis & Martinsville Rapid Transit Co.— An electric road.
In favor of the Citizens Co. In Dec. 1897, see Supplement o f N ov. 1898, and
Leased.— In April 1907 was leased to the Terre Haute Indianapolis A
V. 64. p. 842, 1180; V. 65, p. 51, 181, 1172.
East. Trac. for 999 years. Tho latter co. will pay the Int. on tho bonds; also
Guarantees the ($400,000) bonds of Broad Ripple Traction C o., and owns $500 per year for organization. V. 84. p. 749. Tho Terre Haute Ind. A
75% of Its stock.
Eastern owns entire Issue of stock except directors’ shares.
Lease.— On Dec. 29 1902 was leased to the Indianapolis Traction & Ter.
ORGANIZATION.— Incorporated In Indiana on April 24 1901. Oper
mmal Co. for 31 years. See V. 75, p. 1301. Lease provides for dividend of ates on private right of way except in incorporated towns.
1 % Jan. 1 1903. then 3% In semi-annual Installments for first year, 4 % for
STOCK AND B O N D S — Date.
Interest. Outstanding. Maturitu.
second year, 5% for third year and 6 % after July 1906.
Stock $750,000 (S100).......................
.............
$760,000 .
STOCK ANI) BONDS— Date.
Interest. Outstanding. Maturitu AcFirst mtge. $750,000 ($1,000)1 1902
5 g J-J
750,000 Jan 1 1932
Capital stock ($100).......... ...............
J-J
$5,000,000 Jan T 8 . 3%
gold-------------------c*Ar n tn Union Trust Co. and Security Tr. Co. of InIndianapolis Street Ry genf 1899
4 g J-J
6,000.000 Jan l 1933
„
.
(dlanapolls, Trus. Int. at Sec. Tr. C o., Ind.
mortgage $6,000,000 gold! Interest at Guar. Trust A Safe Deposit C o..
Bonds.— No sinking Rind, but bonds aro subject to call after 10 years at
($1,000) guar___ ___ c*n t fl Philadelphia, Trustee.
105 and Interest. See V. 78, p. 1223.
Citizens Street Ry 1st All 1893
5 g M-N
1.000,000 M ay 1 1933
EARNINGS.— For calendar years:
$4.000,000g ($1,000)-C* tfjCentral Trust C o., New York, Trustee.
,„-Dec- 31 Year. Gross. Net.aft.Tax. Oth.Inc. Deductions.
Balance.
Equ.n. certificates Series "A ” ! 1909 5 M-N
20,000 See text.
1917.................$172,403
$ 34,010
$500
$37,500
def.$2.990
$21)0,000 ($1,000)________ /Fidelity Trust C o., Philadelphia, Trustee.
1916 ................ 167,112
39.954
500
37,500
sur. 2,954
Equip, certificates Series “ B” l 1911 5 J-J
25 000
See text
ROAD.— Embraces 27.54 miles of track from Indianapolis to Martins
$160,000 ------------------------/Fidelity Trust C o., Philadelphia, Trustoe.
ville, completed in May 1903. 70-lb. rails; standard gauge.
Equip, certificates Series ,,C ” \ 1913 5 M-S
45 000
See text
OFFICERS.— Pros., Robt. I. Todd; V.-Ps., Harry S. New, Cbas. Mur
$l60,000. ---------------------- /Fidelity Trust C o., Philadelphia, Trustee.
dock and John J. Appel; Sec., E. B. Beck; Troas., Jos. A. McGowan.
Kf*U certificates Series " D " j 1913 6 J-D
l‘An
55.000
See text
V. 84. p. 749.
(6) Indianapolis C rawfordsvlllo & Danville Electric Ry.
Equip certificates Series “ E '7 1916 5 J-D
107,000
See text
Lease.— On May 1 1912 was leased to the Terre Haute Indianapolis A
$125,000 ($1.000).-...........\I‘ a. Co. for Ins. on L A G Ann.. Phil..trust.
Eastern Trac. for 999 years. Under the lease tho latter company guaran
interest on Citizens- consols at Fourth Street N at. Bank. Philadelphia.
The mortgage of 1899 was for $7,000,000. but $1,000,000 has been can tees p. A 1. of 1st M. bonds, 5% divs. on $200,000 pref. stock and semi
% from Nov. 30 1912 to May 31 1914, 1%
celed. No bonds reserved Tor the Citizens’ consols. The company binds annual divs. on com., viz.:
Itself to pay to the Indiana Trust Co. a sum annually sufficient to redeem Nov. 1914 to May 1916, l ^ % N o v . 1916 to May 1918 and 2% thereafter.
ORGANIZATION.— Incorp. In Indiana on April 20 1912 as successor to
at maturity the greater part of the entire Issue of Indianapolis Street Ry.
bonds: this provision Is guaranteed by the Indianapolis Traction ,1 Terminal the Indianapolis Crawforsdvillo A West. Trac., sold at foreclosure. Built
c
Co. See V. 76, p. 542. $988,000 (included in amount reported outstand entirely on private right-of-way. In cities and towns has 50-year franchises
ing) held in sinking fund Sopt. 1 1918. Equipment certificates Series “ A ” which permit the carrying of freight, express and mail matter.
mature $10,000 on May 1 and Nov. 1 each yoar until paid in full. .$180 000
STOCK AND BONDS— Date.
Interest. Outstanding. Maturitu.
havo been retirod. They cover purchaso of 54 now cars. V. 8 8 . p. 1499. Common 3400.000 ($100).................
M -N
$400,000 See text
Series “ B ” mature 55,000 on Jan. 1 and July 1 in each year until paid in Pref $400,000 5% cum (S100)..........
J-D
200.000 See text
full. 575,000 havo boon retired. They covor purchaso o f 25 new cars. First mtge $2,500,000 gold! 1912 5 g M-N
1.000,000 May 1 1952
Series “ O” mature $5,000 on March 1 and Sopt. 1 each year until paid
($1,000) g u a rp A I _cAr t f / Interest at Girard Trust Co.. Phlla.. Trustee.
in full. They cover 25 now cars. $55,000 havo been retirod. Series “ D ”
Bonds.— Of remaining first mtge. bonds, $1,000,000 aro fur extensions
maturo $5,000 on June 1 and Doc. 1 each year until paid. Covers 25 aud $500,000 to be issued only under certain conditions. Subj. to call as
new cars. $45,000 have beon retired. Series “ E" maturo $6,000 or a whole but not In part at 102H.and int. on any lat. day. Sinking fund of
$7,000 on Juno 1 and Doc. 1 each yoar. Thoy cover 25 cars. $18,000 59,000 per annum on initial $1,000,000 bonds out commenced March 1 1913
havo beon retirod.
V hen add’l bonds are Issued fund shall bo increased by such amount as will
V
Stock and bouds listed on Phlla. Stock Exchange. V 69, p. 851.
retire 2-3 of such add’l bonds issued. $64,000 hold alive in sinking fund
ROAD.— 110.69 miles of track; 182 singlo-truck and 52 double-truck Sopt. 1 1918.
passenger and 5 service cars. 90-lb. rail.
EARNINGS.— For calendar years;
OFFICERS.— Pres., Henry Jameson; V.-P., II. S. New; V .-P ., H. J
Gross. Nel.aft.Tax.Oth.Inc. Deduc. Sink.Fd.
Balance.
Hlbberi; Sec. A Treas., Jos. A. McGowan; Asst. Sec. A Treas.. W. F* .Y e a r —
1917 ................. $259 932 $54,528 $500 $50,333 $11,520 dof.$6,825
Milholland, Indianapolis.— V. 79, p. 151; V. 8 8 , p. 1499; V. 106. p. 2560.
1910
----------- 244,219
60,403
500
49,667
10,193 sur. 1,043
ROAD.— Operates 44.89 miles of road botweeu Indianapolis and Craw(2) Terre Haute T raction A Light Co.
Leased.— In March 1907 was leased to the Terre Haute Indianapolis A fordsvllle. Standard gauge. 70 and 85-lb. T rails. An extension from
Eastern Trac. Co. for 999 years. The latter company guarantees 6 % on Crawfordsvllle to western boundary of Indiana east of City of Danville.
the outstanding pref. stock and 2 % on common for 1 H years, 3 % for Ind.. Is proposed.
OFFICERS.— Pros.. John J. Appel; V .-P .. Robert I. Todd; Sec. A Treas.,
1 year. 4% for 1 year, and 5% thereafter, and $1,006 per year for organ!•
Jos. A. McGowan: Gen. M gr., Robt. I. Todd. V. 94, p. 1449. 1565, 1895.
xatlon expenses. V. 84, p. 750.
The Terre Haute Ind. A East. Trac. owns all the common stock except
BROAD RIPPLE T R A C T IO N — A trolley road
directors’ shares.
ORGANIZATION.— Organized as successor to the Indianapolis A Broad
ORGANIZATION.— Is a consolidation In 1904 o f the Terre Haute Elec
Ripple Transit C o., sold at foreclosure July 1899. The Indianapolis
tric Co. and the Torre Haute Electric Traction Co. Principal railway
franchises expire 1952; principal lighting franchise perpetual; other fran Street Ry. owns about 75% of stock, but organisation Is separate. Road
Is Jointly operated by the Union Traction Co. of Indiana and the Indianap
chises average 30 years from Jan. 1 1906. Leases Terre Haute A West.Ry
olis Traction A Terminal Co.
’
STOCK AND BONDS— Date.
Interest. Outstawling. Maturitu
STOCK AND BONDS—
Date.
Interest. Outstaruling. Maturitu•
Common $2,000,000 ($100)----------M -3
$2,000,000 See text
$100,000 ____
_
Pref. 11,000,000 ($100 6 % c u . j ____
M-S
1.000.000Sopt. *18 3% Stock $100,000 (par $100)........................................
400.000 July 11933
First cons mtge $5,000,0001 1904 5 g M-N
3.113.000 May 1 1944 Mtg $400,000 g ($1,000) c * n t f.( 1899...........5 g J-J
„
,
.
lin t, at Ouar. Tr. A S . D.Co. (Phlla.). Trust.
g o ld ......... ...................t f / Interest at State Street Trust C o., Boston.
Bonds.— Are guar. p. A I. by Ind. St. Ry.
No a. f. ana bonds cannot
Torre Haute Electric 1st mtgi 1899 5 g J-J
1.500,000 July 1 1929
be called. The Ind. Nor. Trac. Co. (subsequently consolidated with the
$1,500,000 gold ($1,000) c* /In t. at Boston Safe Dop. * Tr. Co., Boston
Union Tr. Co. of Ind.) guarantees p. A I. of half ($200,000) of the bonds.
Car T r Equip Co prof sto ck ,. 1918^ 6 Q-J
170,000 Seo text
ROAD.— 7H miles of track from Indianapolis to Broad Ripple Park.
Bonds.— 1 he Union 1 rust Co. of Indianapolis and the Boston Safe Deposit
OFFICERS.— Pree., Robert I. Todd; Sec., Jos. A. McGowan; Treas..
f '° - are 1olnt trustees of the Terre Haute Electric mtge. Or the
$5,000,000 consols, $1,500,000 are reserved to retire prior liens. The now E. B. Peck. V. 69. p. 180; V. 73, p. 137, 183; V. 78. p. 1187.
bonds are callable as a whole at 110 and int. on any int. date. A sinking
INDIANAPOLIS & CINCINNATI TRACTION CO.
fund of 1% of outstanding bonds commenced May 1 1906. $387,000 was
held by this fund Sept. 1 1918. Tho United States Trust Co. of Torre Haute
ORGANIZATION.— Incorporated In Indiana on Nov. 17 1910 as suc
and the State Street Trust Co. of Boston are trustees of this mortgage. cessor to the old Indianapolis A Cincinnati Trac. C o., sold at foreclosure
See V. 78. p. 2013.
Nov. 10 1910. V. 91. p. 1385. 1025.
The Car Trust Equipment Co. prof, stock is a first chargo against 30
In 1911 acquired the Indianapolis A Southeastern Trac. Co. (all of whose
cars costing $195,000. Tho stock matures $8,500 s-ann. V. 107,p. 182.
com. and $30,000 1st M . bonds tho old Indianapolis A Cincinnati Trac. Co.
EARN INGS.— For calendar years:
had owned and to which company the Ind. A Southeastern was leased) and
. nYlar~
Gross.
Net. Oth.Inc. Deduc'ns Sink.Fd. Balance
canceled lu com . stock. V. 92. p. 881, 950. Private right of way except in
1917............ $1,489,638 $649,860 $1,000 $26-1,883 $31,577 $354,400 cities and towns. County franchises perpetual. Franchises In cities and
1916---------- 1,409,369 656,342
1,000 266.483
31.897
358.962
town* are Tor 50 years (the oldest being dated 1904), except in Iudlanapolte.
ROAD.— Embraces 87.26 miles o f track In Terre Haute. Including lines which Is for 34 year* from 1900. Has contract with Indianapolis Traction
from Terre Haute to West Torre Haute, Clinton. Brazil, Sullivan and San A Terminal Co. for 31 years allowing its car* to enter Indianapolis.
ford, Ind. Ralls, 60 to 80 lbs. Owns 108 city passenger and 15 Inter
In Nov. IV12 the I. A U.
A Power Co waa incorporated with
urban passenger cars, 6 freight and 2 0 service cars.
nominal ($900) capital stock in the interest of the Traction Go. to furnish
OFFICERS.— Pres., Denies Doming; V.-P., Robt. I. Todd; Sec. A Treas.. U*ht and power to the communities along tho company’s route.
Joseph A. McGowan.— V. 90,_p.J555; V. 98, p. 525; V. 107, p. 182.
In Fob. 1913 the I. A O. Electric RR. was Incorp. with $10,000 capital
stock, to extend the Traction C o .’ b linos from Rushvlllo to Cincinnati by way
(a) Terre Haute & Western Railway Co.— An electric road.
or Brookvllle, Ind.. and Harrison. O. It may later bo merged with the
Leased to Terre Haute Traction A Light Co. for 999 years Troui Nov. 1907
ORGAN IZATION .— Incorporated In 1907 in Illinois. Road extend* Cincinnati Harrison A Indianapolis Traction Co.
In April 1913 acquired control of the Cincinnati A Westwood RR ., a
worn the Indiana State line near Sanford, Ind., to Paris, HI.. 10.63 mllee.
Began operation Oct. 25 1907. Is entirely on private right-of-way. Entire narrow-gauge road extending from Westwood, on tho boundary line of
Cincinnati, to Brighton, within tho city. 6 1-3 miles
V 96, p. 1297.
com. and pref. stock owned by Terre Haute Ind. & Eastern Trac. Co.
On Jan. 19 1018 was auth. by tho Indiana P. U. Comm, to Increase
STOCK AND BONDS—
Date. ' Interest. Outstanding
Maturitu. passenger faros from 2 to 2 cents per milo.
Stock common $200,000................................ $200,000
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturitu.
Preferred $150,000................ ...........
....... .
150,000
$2,000,000 ...................
First mortgage $250,000 gold 1 1907
5 g M-N
250.000 N ov'1'1937 Common $2.006,000_________ _____
Pref $1,000,090 (see text).................
J - j '" ‘
1.000.000 In 1912. 1%
guar p A 1 ($1.000)---- c* tf/In t. at New England Tr. C o., Boston, Trus
First mtge $4,850,000 (Sl.-T 1910
5 J-J
...... ................. . . „ TO
1.100.000 July 1 194
Bonds.— Are guar. p. A I. by endorsement by Terre Haute Tr. A Lt. Co
, 00?) gold (see text)_____c*/Interost at Central Trust C o.. N Y.. Trus.
EARN INGS.— For calendar years:
I ^F
Lp£ 3tk *600.000 ($ 1 0 0 )----A-O
600.000 In 1917. 5%
31 ^'ears— ■ Gross.
Net.aft.Tax. Oth.Inc. Deductions. Bal..Sur. Ind A 8 E 1st M $1,000.0001 1905
5 g J-J
586,000 July 1 1938
J9}7.............................$54,060
$22,515
$500
$12,500
$10,515 , 5°Jd (31.000)-------------------/Int. at Farmers' Loan A Tr. O o.,N .Y .,T rus.
1 9 #&*TrTi?Da---D--- 5 l,V
?46„
22,116
500
12,500
10.116
* Southeast 1st! 1902
5 g J-J
414,000 fan 1 1932
OFFICERS.— Pres., T. F. Grover; V.-P., F. T . (J Hair; Sec. A
M $500,000 g (St ,000) s f . . (Int. at Ainor. Tr. A Sav. Bit., Chicago, Trus.
Treas.. John T . Beasley.— (V. 90, p. 1555).
Stock.— Iud. A Oln. Trac. pref. Is ontltlod to non-cum divs. of 2% until
July 1 1911. then Increasing 1% yearly to July I 1913: thereafter 5% per
(3) Indianapolis & N orthwestern T raction C o.— An electric road.
S.
Lease.— In April 190/ was leased to tho Terre Haute Indianapolis A annum. Ind. A See E. pref. Is redeemable at 105 and accrued dlv. on any
V 81.
Eastern Traction for 999 years. The latter company will pay the Interest divldond date. A Oln. Trac p. 1375.is divided Into threo classes. A, B and O.
Bonds.— Ind.
on the bonds; also 1)• % quar. or 5% per annum on tho $450,000 pref. Class A. $1,300,000. all out; 1st M . B, $200,000, none Issued; and Class O,
£
Class
stock and $500 per year for organization. V. 84, p. 869.
$3,350,000
$100,000 outst'g),
Improvem’ ts,
Entire Issue o f common stock, except directors’ shares. Is owned by the Ac. Entire(of which bonds of each class reserved for oxtons.,or after July 1
series of
Is subject to call on
Terre Haute Indianapolis A Eastern Traction.
1913 at 105 and int.
different series, see
956.
ORGAN IZATION .— Organized In 1902 In Indiana. Operates a raoders Of tho SI,000,000 Ind. As to priority of $414,000 Is reserved V. 92, p. lions
A S.
for prior
high-speed interurban railroad, standard-gauge, located upon private right ’l hey are subject to call on auyE. bonds, at 105 and Int. Of the Ind. Shelby.
Int. dato
or way outside of the city corporate limits. Extends northwesterly frovu A S. E. bonds, the entire issue may bo called on any Int. date at 110. A
the city of Indianapolis through the cities of Lebanon and Frankfort to the
fund on
city of Lafayette, with a branch from Lebanon to Crawfordsvllle, each of sinkingbonds can these bonds ot S 10,000 per annum began Jan. 1 1908, for
which
which cities Is the county seat ot its respective county. Has trackage have been retired.be called at 105, beginning with lowest number. $80,000
righls to the business centres o f Indianapolis and Lar&yette.
Dividends— On prof paid In 1911. 1J£%; in 1912. 1%.
I he franchlres run for 31 to 50 years from 1907 and pormlt the carrying
EARNINGS— For fiscal year ending Doc. 31 1917. gross, $496,284:
of freight, express and mail, as well as passengers.
not. $164,790: othor incotno, $2,081; interest, taxes and dividends on
STOCK AND BONDS— Date.
Interest. Outstanding. Maturitu
I. A S. E. pref., $179,854; doficlt for yoar, $12,983.
Common 52.550,000-________ _____
_______
$2,550,000
ROAD.— Operates 58 miles of track from Indianapolis via Rush vide to
Prer ($1,000,000) 5 r cum________
?0
Q-J*
450,000 "Soo'text”
Oonnersville and 19 miles of track from Indianapolis via Shelbyvillo to
“ JS0 S3,000.000 goldl 1903
5 g M-S
2,470.000 Mar 11923
Greeusburg. Total, 105 miles of track. An extension from Rushville
($1,000)
----------------c*tf|Int. at Columbia Tr. C o., N. Y ., Trus.
via Harrison, O., to Cincinnati Is proposed. 60 and 70-lb. T rails. 20 pas
Bonds.—- The remaining $530,000 for Improvements, A c., at 50% and 75% senger cars and 4 express cars.
OFFICERS.— Pres., Chas. L. Henry, Indianapolis; V.-P., T. F. Rose.
o f S°f o
&ut bonds cal?,b0 called on anv Int- date at 110 and Int.
EARN ING S.— For years ending Dec. 31:
Muncie; Sec . John .1. Appel, Indianapolis; Treas., John F. Wild, Indian
„ Cal.Years— Gross.
Net.aft.Tax. Oth.Inc. Deductions.
Balance.
apolis. Office, Indianapolis.— V. 105, p. 2094; V. 106, p. 395.
} 9 } 7 .................. 1462.274
$118,643
$500
$123,500
dof.$4,357
-4 4 8 .5 2 9 , , 130.271
500
123,500
sur. 13,271
IR O N W O O D , M IC H .
RUAD.— Embraces 84.15 miles of track botweon Indianapolis, Zionsvillo, Lebanon, Frankfort and Lafayette, Including a branch from Lebanon
IRONWOOD A BESSEMER RAILW AY & LIGHT CO.
to Crawfordsvlllo. Standard gauge; 70-lb. T rail. Owns 20 passenger
In Jan. 1917 the L. E. Myers Co. of Chicago, III., purchased control.
5 freight and 5 service cars.
Power houso and car barn are at Lebanon.
ORGANIZATION.— Incorporated In Wisconsin. Owns 59% of tho
V. ©o, p. 295; V. 92, p. 59.
of tho
Ry. Co. Controls
OFFICERS.— Pres., Robt. I. Todd; V.-Ps., Chas. Murdock and Harry stock, J.,0.1 Ashland Light. Power A Street Ashland. Ironwood.tho electric
V.? .
Ter * nd street railway business In
Bessemer.
S. New; Sec. A Treas., Jos. A. McGowan.
Wakefield. Hurley and Glle; the gas business In Ashland, and tho water
Sept. h»1 .|
8
ELECTRIC RAILWAYS
sunnlv lu Irouwood, Hurley and Gile. Also owns some of the most valuable
natural water powers In Wisconsin. Franchises in Iron wood and Bessemer
Bxnlrn In 1911. In Wisconsin operates under Indeterminate franchiso.
In Jan. 1913 increased Its auth. pref. stock from $200,000 to $400,000
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity
Common $500.000 ($100)........................- - - - *500.000
See text
Pref 3400 000 ($100) 7% c u i n . ____
Q-M
397.000
See text
Flrst mtge $2,500,000 gold) 1911
5.P-A
1.6 .4.000 Feb 1 1930
sink fimd ($1,000) c * .c p t fln t . at American Trust Co. Boston, Trustee.
Ash Lt l’ & St Ry 1st mtSef 1909
5 g J-Jq
781.000 Jan 1 1939
$1 000.000 gold ($ 1 ,0 0 0 ) IInt. at Chicago Sav Bk & Tr. C o., Trustee
Penn tax refund ..c & r .t f l (Loverett Thompson of Chic . Co-Trusdeo.
bonds.— Remaining Irouwood A Bessemer 1st M. bonds may be Issued
for 75% of cost of new property under certain restrictions. 1 hey are sub
ject to call on any lot. date at 104 and int. for sinking fund
Sinking fund
providing for retirement of 1% of outstanding bonds began with year
ending Feb 11010. Ashland Light, Power & St Ry bonds are subject to
call on any Int day at 104. Sinking fund of 1% of bonds out began in 1912.
See V 104 p 450,
, ,,
.,
Dividends.— 7% per annum In being paid on preferred (Increased In 1910
from 6% per annum)
8% is being paid on common stock.
EARN INGS.— For years ending Dec. 31:
„
. , ,
_
.
Year—
Gross.
E iv.
Taxes.
Net.
Bond Int.
Surplus.
1U fi
1
$290,197
$128,900
$261,297
$75,610
$85,687
m e : : : : : : : : : 268,362
m .3 8 7
1 5 6 .9 7 5
0 7 ,5 8 1
8 9 .3 9 1
R OAD.— Owns 15 mllos of street railway serving Bessemer, Irouwood.
Hurley and Gile: 2 water power sites capable o f 7.000 h. p. development,
located at Brownstone and Superior Falls: two developed hydro-electric
nlants of 2,650 h. p. at .Mellon and Saxon Falls: 2 steam plants at Ironwood
and Bessemer 113 miles transmission lines. In Sept. 1917 construction
work on a $100,000 l.200-h.p. plant was begun by the Ashland Lt. Pow.
«r Sf Ry Co
O F F IC E R S__Pros. L. E. Myers; V .-P ., L. N. Bolson; Sec. A Treas.,
Wm H P Weston. Office, 53 W. Jackson Blvd., Chicago, 111.— V. 104,
________ T ________
p. 452. 764.
55
Bonds.— Remaining bonds are for imDts.. add'ns and extens. under cer6ain restrictions.
Subject to call as a whole (or in part for sinking funa) on
any Interest date at 105 and int.
Sinking fund of 2% of bonds out began
Fob. 1 1914. Interest in Chicago and at New York office o f P. W . Brooks
A Co . Inc. See V 9 4 , p 1566.
EARNING S.— For 12 months ending Dec. 31:
0
,
Year—
Gross.
Ezo. & Taxes.
Net.
Interest.
Surplus.
1917.......
$325,492
$208,638
8116,854
844.460
$72,364
192.251
117,472
44.490
72,982
1916 ________ 309.723
1915 ............... 279,785
193,271
86.514
45,485
41,029
ROAD.— Owns 14 miles of track. Standard gauge. 18 passenger cars.
— V. 98, p. 1244; V. 101, p. 773; V. 103, p. 406. 6 6 6 ; V. 105, p. 1104.
JACKSON, TENN.
JACKSON RAILW AY & LIGHT CO.
ORGANIZATION.— Incorporated in Tennessee in July 1906, and is suc
cessor to the Jackson A Suburban Street Railroad Co. Franchises expire
in 1963. Also owns a park of 15 acres. Does lighting and power business
In addition to street railway.
STOCK AN D BONDS— Date.
Interest. Outstanding. Maturity.
Common $450,000 ($100).................
Q-R
...................
Preferred 6 % cum
- ____
______
250,000 - - - - - - - — First mtge $600.0007$‘ l .000)i 1906
5 g J-J
494.000 Jan 1 1937
No s f. Redeem at 105.-Cj Fidelity A Columbia Tr. C o.. Louisville. Tr.
Stock and Bonds.— $150,000 com. and $106,000 bds. are held In treasury.
EARN ING S.— For cal. year 1917, gross, $126,917; net, $45,530. In
1916. gross, $123,207; net. $50,634.
.
„
R ^ A D .—Operates 7 4 miles of track. i2 and 50-lb. T rails.
OFFIC E R S.—Pres . C. E. Clxggett; V.-P. A Gen. M gr., S. S. Bush;
Sec. Geo. W. Lewis; Treas., Fidelity A Columbia Trust C o., all of Louis
ville, K y.— V. 83, p. 95.
______________
JA C K SO N V ILLE , FLA.
JACKSONVILLE TRACTION C O .— Trolley.
. 101,
Q
O
ORGANIZATION.— £s a re-lncorporatlonRn Mass, in March 1911 (V.92.
p. 881) of the Jacksonville Elec. C o., which was a consolidation or the Jack
sonville St. Ry. C o., the Main St. RR. Co. and the Jacksonville Elec. Lt.Co.
ISH P E M IN G , M IC H .
Stock of old company was exchanged, share for share, for stock of new com
MICHIGAN GAS & ELECTRIC CO.— Controlled by the Middle pany. Railway franchise expires in 1932. Does entire electric railway busWest Utilities Co.
fness in Jacksonville. $3 5 0 ,0 0 0 oom. stock is held by Pub. Serv. Invest. C o.
On Feb. 28 1914 shareholders authorized $500,000 additional pref. and
ORGANIZATION.— Incorporated In Maine on Nov. 19 1906 as
the Houghton County Gas & Coke Co. Name changed to the $500,000 additional common, making $1,000,000 pref. and 51,500,000
above Feb 14 1917. The company acquired, effective Jan. I 1917, the common. V. 98. p 763. 690, 611.
Constantino Hydraulic Co., Three Rivers Light & Powor Co., Three Rivers
Maturity.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Gas C o., Milling A Power C o., and the Marquette County Gas A Elec. Co. Common $1,500,000 ($100).............
$1,000,000
8e« text
---(excluding the stroot railway, which see below).
500.000
See text
Pref 6 % cum $1,000,000(5100)-----6 Q-F
838,500 Mar. 1 1931
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
First consol mtge $5,000.0001 1911
5 M-S
— —
($500 and $1.000)____c*tf Int. at State Street T r ^ Co^ Boeton. Trus.
Common $500,000 ($ 1 0 0 )---- — —
------—
$500,000 — ------- 5 g M-N
1,245,000 May 1 1927
Pref cum $400,000 ($100)
6%
400,000 - - - - - - - Jacksonv Elec 1st M (a*-l 1902
sumed) gold(5 1 ,0 0 0 )c » .n t f I Int. at American Trust C o.. Boston. Trustee.
First & ref $3,000,000 ($100,)..... 1917 5 g J-J
512,000 Jan 1 1932
2-yoar coupon notes $1,000.-1 1917
6 M-S
7o0.000 Mar 1 1919
« « ) 0 $1 000) gold- —c*.tf/Central Trust Co. of Illinois, Chicago, trustee.
000 X ($500 A $1.000)
c* jln t. at State St. Trust Co. Beaton, Trustee.
M O o G A E I 1st M $1,000.-1
1910 6 g J-J
411,000 Jan 1 1930
000 ($1 000) gold___ c*.tf/F irst Trust A Sav. Bank, Chicago, trustee. Notes payable Juno 30 1918.............
.................
205,000 - - - - - - - - Stock.—$ 1 0 0 ,0 0 0 common stock not reported outstanding held in treasury.
Hough Co Gas A Coke Col
1906 5 g F-A
85.000 See text.
Bonds.— Of the 1st consol bonds. $1,245.000 are reserved to retire Jack
$350,000 ($1,000) g —C*.tf/Central Trust Co. of Illinois, Chic., trustee.
Constantine Hydraulic Col
1905 5 g A-O
228,000 Apr 1 1925 sonville Eloe. 1st M and $2,905,000 ars for additions and Improve
$250,000 ($1,000) gold-C.tf (Central Trust Co. of Illinois, Chic., trustee. ments at 80% of cost. Subject to call on any int. dato as a whole or in part
Three Rivers Gas Co $75.0001 1907
5 g A-O
59,000 Oct 1 1936 for sinking fund at 105 and int. Future issues of these bonds may bear
($500)...........................c*.tf/D etroit Trust C o., Detroit, M ich., trustoe. Interest at a lower rate than 5% If so determined by the directors. Sinking
bonds out began Mar. 1 1917. V. 92, p. 1564.
bonds.— The 1st & ref. 5s are secured. In addition to their lion on the fund, 1% per annum ofcancelled. Jacksonville Electric Company bonds
proporty, by plodgo of entire capital stock (with exception of directors' $11,500 in sinking fund as a whole at 105 and interest on any
are subject to call
shares) of the Marquette County Elec. Ry. Co. Sufficient are roserved to Interest date. A sinking fund of 1% annually of bonds out commenced
retiro prior liens and the balauco for corporate purposw. Are callable at May 1 1907, which may 6 e used for extensions and improvements or la
10254 A int. on or before Jan. 1 1927 and at 101 A int. from Jan. 1 1927 to
bonds. $5,000 bonds have been
The
Jan. 1 1931 on throe weeks' notice. Of the $411,000 Marquette County purchase of as a whole at 100 and Interest on canceled.notice. coupon notes
30 days'
Gas A Elec. Co. 1st 6s reported outstanding, $139,000 have boon assumed are callable
Dividends.— Paid
%
by the Marquette County Elec. Ry. Co. (see below), which {las acquired and same rate quar. 1 4 andquar. on pref. to M ay 1915: in Aug. 15 paid H %
incl. Nov. 1916. Feb.
and owns a part of the proporty upon which tho mortgage is a lien. Sinking p. 361). None since. to old Electric Co. com. 6 % 1917 div. passed. 1(V. 104.
On
ann. from Aug. 1905 to
fund of 1% from 1913 to 1915 and 2% thereafter. Are callable at 105 on Aug. 1 1910, when rate was Increased to 7% and same amount paid to
any int. dato. Tho Houghton Comity Gas A Coke Co. 1st 6s are due seri Feb. 1911. On new Traction Co. com. Initial div.— 1 4 % — paid in May
ally on Fob 1 as follows: 1917-19. $4,000 per annum: 1920-24, $5,000 per
annum: 1925-29, $6,000 per annum: in 1930. $10,000. and In 1931 the 1911; same rate quar to and including Nov. 1914. None since.
E A R N IN G S — For 12 months ending Juno 30:
remainder. The 1st M. 5s of tho Constantino Hydraulic Co. are subject
Year—
Gross. Net (aft. Tax.)
Interest. S k..& c..Fds. Surplus.
to call at 105. The 1st M . 5s o f tho Three Rivers Gas Co. aro callable at
$241,029
$170,427
$22,617
847,985
1917-18........... $781,551
105 on any Interest date,
•
215,031
165,806
20,950
28.27o
OFFICERS.— Pres., L. E. Myers: V .-P., J. O. Clayton; Soc., O. E. 1916-17........... 656,429
ROAD.— Operates 57.73 miles of equivalent single track. Has 118 cars.
McCormick; Treas., R. W. Waite, Chicago, 111. Chief operating offico, Gauge 5 feet. Power plant capacity. 2,400 k. w.
„
72 Wost Adams St., Chicago, 111. General office, Isbpoming, Mich.
OFFICERS.— Pres., Geo. J. Baldwin, New York; V -Ps , Chas. F.
(a) The Marquette C ounty Electric Ry. C o.— Organized with $25,000 Wallace and Harry H. Hunt; Treas.. Henry B. Sawyer; Clerk , Alvah K.
capital stock (all of which, with the exception of directors' shares, Is owned Todd; Mgr.. Hardy Croom. Jacksonville. Fla.; Gen. Mgrs.. Stone A Web
by tho Michigan Gas & Elec. Co.) Property leased to the Michigan Gas & ster M gt. Assn., Boston,— V. 102. p. 1625; V. 104, p, 361. 952, 1702,
Elec. Co. under general contract which provides for payment of bond in
terest, operating expenses and upkeep. The company has assumed $139,
J A M E ST O W N , N. Y.
000 of tlm 1st M . bonds of the Marquette County Gas & El. Co.
JAMESTOWN STREET RA ILW A Y.— Trolley.
ORGANIZATION.— Incorporated Oct. 18 1883. Franchise runs till 1982IT H AC A , N. Y.
STOOK AND BONDS— Dale.
Interest. Outstanding.
M aturity
ITHACA TRACTION CORPORATION .
Stock $250,000 (par $50)......... ....................... —$250,000
First mortgage $300,000 gold! 1893
6 g J-J
300,000 Jan 2 1923
In Jan. 1918 Ford, Bacon A Davis, N . Y . City, acquired a substantial
($1.000)______________ c* |Int. at Guaranty Trust C o.. N. Y ., Trustee.
Interest in the Central N. Y. Southern R R . Corp., which controls the
Current liabilities Dec. 31 191 < ---------------1,583,352 -------------- Ithaca Traction Corporation.
EARNING S.— For years ending Dec. 31:
B
ORGAN IZATION .— Incorp. in N. Y . Mar. 30 1914 as successor of the
Year
Gross.
Net.
Oth.Inc.
Chgs.ATaxes
Balance.
Ithaca Street Ry. sold at foreclosure under bondholder*’ reorganisation plan.
$66,182
827,323
$121,322
def.S27.876
The now co. Is controlled by the Central N. Y. Southern RR Corp., an al 1917 ........... $442,435
84,137
24.390
102,696
sur. 5.832
lied Htenmroad, by ownership o f all the ($400,000) outstanding stock and all 1916 ............ 387,690
($488 000) outstanding 1st A ref. bonds. The Central N Y Southern RR.
ROAD.— Owns 26.545 miles of track, 61 cars, 2 sweepers.
Corp.’ Is a reorganization of the New York Auburn A I-arising RR. and is
OFFICERS.— Pres.,
capitalized as follows: Common stock, auth., $1,275,000; outstanding head; Gen. M gr., G. E.A. N. Broadhead; Sec. A Treas., S. B. BroadMaltby, all of Jamestown.
$375,000. Prof stock, auth. and outstanding. $725.000:and 1st and coll,
trust 5s due 1961. Auth. $4,000,000: out., $1,000,000- (V 99. p. 538 )
CHAUTAUQUA TRACTION CO.— A trolley road.
Fare Increase.— In Doc. 1917 the N . Y . P. S. Comm. auth. tho co. to
ORGANIZATION.— Incorporated In New York on March 7 1903. Is
Increases its fares to 6 cents.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity. controlled by the same interests as the Jamestown Street Ry.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Capital stock. $1,000,000— — — —
-----*$400,000
-------..............
$500,000 - - - - - - - - -
lstArof M $2 ,0 0 0 ,0 0 0 . g. red! 1914
6 A-O
*488.000 Apr 11964 Stock $500,000 ($100).....................First mtge, $600,000. gold! 190-1 5 g A-O
600.000 April11 1934
any hit date at par&!ntc*tf I Columbia Trust C o.. N Y .. trustee.
($ 1,000)...... ......................Clint at Title Guar. A Tr. Co.. N. Y ., Trustee
Ithaca Street Railway 1st M l 1892
6 J-J
175,000 July l 1922
Current liabilities Dec. 31 1917 ---------------691,455 -------------- $175,000
. . ______tfj Int. at Farmers Loan A Tr C o., N. Y.
Bonds.— No sinking fund and are not subject to call.
2nd M $75,000-............... t f — 1894
6 J-J
75.000 July 1 1922
Cayuga Lake El Ry 1st M .t f 1894
6 J-D
25.000 June 1 1922
EARNINGS.— For year ending Dec, 31:
* Ali owned by the Central N. Y. Southern RR. Corp.
Year—
Gross.
Net.
Oth.Inc. Chgs.&Tax.
Deficit.
bonds.— Of the 1st A ref. intge. 5s, $488,000 are issued and aro all owned 1917 ...................... $141,089
$12,542
$1,016
$17,843
848.285
by tho Cent. N. Y So. Remaining bonds are reserved for future require 1916..................... . 152,159
39.817
1.224
69.061
28.020
ments, Including the retirement of the throe underlying prior lien as above.
ROAD.— Operates 26.73 miles of track from Lakewood, where connec
EARN IN G S.— For years ending Doc. 31:
tion Is made with the Jamestown St. Ry., to Mayvllle, there connecting
Dec. 31
Oper’g Net (.after Other
bond
Other Balance. with the Pennsylvania HR., and to Westrield, N. Y.,connecting there with
Year—
Revenue.
Taxes)
Income Interest Deduc. Surplus.
the Lake Shore A Mich. So. and the N . Y, Chicago A St. Louis Ry., and
1917................... $196,066 $10,306 $1,125 $-40,900
$2,153dor.$31,623
from Westfield to Barcelona-on-Lake Erie. Standard gauge; 80-lb. T rall2,029 sur. 2,653
1916..........
196,677 42,368
1.144 38,819
OFFICERS.— Pres.. A. N. Broadhead; V .-P., Wm. Broadhead: Treas..
1,472 sur. 2,611
1915__________ 176,685 39.064
1,661 36,642
ROAD.— Owns and operatos 11.49 miles of track, Owns 41 motor cars 9. B. Broadhead; Sec., W. R. Reynolds; M gr.. Geo. E. M altby;
nd 3 other cars. Ralls, 80-lb. " T .”
J E R S E Y ^ J I T Y , N . J.
OFFICERS.— Pros.. R. B. Williams, Ithaca, N. Y.; 1st V .-P., & Gen.
Ooun., Chas. E. Hotchkiss, 34 Nassau St., N. Y.; 2d V.-l>. A Gen. M gr.,
PUBLIC SERVICE CORPORATION.
J. O. Nelson, Syracuso; Soc. A Treas., S. O. Stivers, N. Y .— V. 100, p. 395.
See statement and map under Newark, N . J.
J A C K S O N , M ISS.
JACKSON LIGHT & TRACTION CO.
Controlled by American Public Utilities Co.
ORGAN IZATION .— Incorp. in Miss. In May 1912 to combine lo cal gas
electric light and power and street railway properties. Has contract for
city electric lighting running to April 1923. Franchises extend beyond
April 1 1922.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common SI.000.000 ($100).................................
$1 000,000 ...................
Prof 6% cum $600,000.............. — .
.............
600,000 ..................
First mtge $2,500,000 goldl 1912
5 A-O
930.000 April 1 1922
($100, $500, $ 1,000)sf.c*tf/C h icago Savings Bank A Trust C o., Trustee
J O H N S T O W N , PA.
JOHNSTOWN TRACTION C O — A trolley road.
O RGAN IZATION .— Incorp. in Pennsylvania on, Feb. 24 1910. Was
incorporated originally to take a lease for 18 years from Jan. 5 1910 of tho
Johnstown Pass. Ry. from the American Itys. (Phila.). In Jan. 1914 the
Johnstown Pass. Ry. and tho Johnstown Trac. Co. were merged under the
title of the Johnstown Traction C o., the American Rys. Co. having sold its
interests. Franchises perpetual.
a
Holders of the Johnstown collateral 5s of Amer. Rys. had tho privile ;e
(until Jan. 15 1914) of exchanging their bonds for the new 1st A ref. 5s
this company (see American Railways under “ Philadelphia” ); practical
all availed of the privilege.
5(>
ELECTRIC RAILWAYS
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $1,000,000 par 550.............
.............
$875,000 ....... ............
P f $1,000,000 7% cum ($100)______
_______
1.000.000 ...................
First & ref M $5,000,000 s fl 1913
5 g J-J
2.000,000 July 1 1943
($500, $1,000) gold._c*ntf/Logan Trust C o., Philadelphia, Trustee.
JohnaPassRy conM ,$800,0001 1899
4 g J-D
399.000 Dec 1 1929
g($1.000)redanyintdayc*tflint, at Guaranty T r. C o., N. Y ., Trustee.
Johns Pass Ry ref M $2,000,-1 1901
4 g J-D
1,601,000 Dec 1 1931
000 gold ($1,000)___c * n tfj Interest at Johnstown Trust C o., Trustee.
Bonds.— Of the first & ref. mtge. $2,000,000 are reserved to retire Johns
town Pass. Ry. 4s; the remainder ($1,000,000) reserved for future exten
sions, &c. Red. at 102 and int. Sinking fund of 1% annually began Oct. 1
1917. Of the Johnstown Pass. mtge. of 1901, edtire issue may be called
at any time at 105 upon six weeks’ notice.
EARN INGS.— For years ending Dec. 31:
Year—
Gross.
Net {aft. Tax.). Bond Int.
Surplus.
1917.................................... $802,287
$303,657
$180,971
$122,686
1916..................................... 772,219
360.424
180.000
180,424
HOAD, &C.— Owns and operates under perpetual charter and franchise
the entire street railway system of Johnstown, Pa., and vicinity. Total
trackage, 43 miles.
OFFICERS.— Pres., E. M . du Pont.— V. 97. p. 1823; V. 98, p. 155.
JO L IE T , IL L .~
JOLIET & EASTERN TRACTION CO.
ORGAN IZATION .— This company, Incorp. In 1914 in Illinois, repre
sents the reorganized portion of the Joliet & Southern Trac. C o., operating
between Joliet and Chicago Heights. This jproperty was appraised by tho
Illinois P. U. Comm., which authorized stock to be issued to the amount of
$269,000 and additional $31,000 for cash received. There is outstanding
$300,000 capital stock. N o bonds.
EA R N IN G S.— For year ending Juno 30 1918, gross, $61,507; in 1916-17,
gross, $66,055; in 1915-16, gross, $60,327.
R OAD.— Total length of all track, 25 miles, extending from Joliet to
Chicago Heights. 60-lb. T rail; standard gauge.
OFFICERS.— Pres., Joy Morton, Chic.; V.-P., Robt. T . Kelly. Joliet;
Sec.. E. H Stearns, Chic.; Treas.. Daniel Peterkin, Chic.; Gen. M gr..
F. C. Eckmann, Joliet.— V. 99. p. 1832.
AURORA PLAINFIELD & JOLIET R Y.
This is the division of the former Joliet & Southern Traction, extending
from Joliet to Aurora. 20 miles, and 2 miles of track In Joliet, purchased by
the bondholders' committee at foreclosure sale In Fob. 1914. It Is being
operated for the benefit of the bondholders. For the division of the old
Joliet & Southern Trac. Co., extending from Joliet to Chicago Heights,
see Joliet & Eastern Traction Co. above. Pres., F. K. Shrader, Chicago;
Gen. M gr., It. A. Moore.
BLOOMINGTON PONTIAC & JOLIET ELEC. R Y .— A trolley road.
ORGANIZATION.— Incorporated in 1903. Private right o f way except
In cities, where franchises run 50 years.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
_______
395,500 Stock $2,500,000 ($100)__________
First mortgage $2,500,000 g\ 1905
5 g M-S
300.300 Sept 1 1935
($10.), $500 and $1,000).. (Int. at Cont. & Comm. Tr. & 8. B., Chic.,Tr.
Int. on bonds Is guar, from Mar. 1 1916 by the Pub. Serv. Co. of Nor. Ill
EARN ING S.— For year ending Dec. 31 1916, grass, $25,756; not (after
taxes of $1,680), loss, $1,201. In 1915, gross, $24,441; net. (utter taxes
of $1,698). loss, $61.
OFFICERS.— Pres., Frank J. Baker; V .-P ., Chas. A. Munroe; Sec.Paul D- Sexton; Treas.. John H. Gulick, all of 72 W. Adams St., Chicago,
ill. Office at Pontiac, 111.— V 85. r» ’ 004 V .9 0. p. 235; V. 96, p. 651.
KANSAS C ITY, KAN.
KANSAS C IT Y, KAW VALLEY & WESTERN RA ILW A Y.
ORGANIZATION.— Incorp. In Kansas July 28 1909. The lino between
Kansas City and Bonnor Springs was placed in operation July 20 1914. and
from Bonner Springs to Lawrenco, Kan., on June 1 1916; total miles track
operated, 42.314. Gauge, 4 ft. 844 In.; 70-lb. T rail. 7 passenger cars;
2 electric locomotives; 2 express and baggage. 8 box and 14 dump cars.
The road as projected will extend to Topeka, 26 miles beyond Lawrence.
Connection is made with tho street railway system of Kansas City. Direct
freight connection at Kansas City with C. R. I. & P. Ry., K. O.-S. Ry.
and K. C. Terminal Ry. At Bonner Springs with N. P. R R . and A. T.
& S. F. RR. Franchise in Lawrenco extends to 1946.
Kansas City Interurban Freight Terminal.— See Kan. City Clay County
& St. Joseph Ry. below.
Fares.— In Juno 1918 applied to the I.-S. C. Comm, for authority to
chargo 3 cents a mile for passenger fares and increase freight rates 25%.
V. 106, p. 2649. Tho I.-S. C . Comm, in Sept. 1918 auth. an increaso in
passenger fares to 2.6 cents per mile. V. 107, p. 1192.
STOCK AN D BONDS—
Date.
Interest. Outstanding.
Maturity.
Stock. $1,500,000 (3100)................ ..
.............
$682,500
____
1st M $2,500,000 gold ($100)/ 1914
6 g F-A
780,000
Aug 11924
$500 and $1,000)---C*tf\lnt. at First Tr. & Sav. Bk.. Chicago, Trust.
General mtge, $812,500 gold( 1914
6 g F-A
487.500
Aug 11924
lin t, at Com. Tr. C o., Kan. City. M o., Tru3 .
Bonds.— The issuance of first mtge. bonds for tho construction of the
road is limited to $20,000 per mile; additional bonds may only be issued
for 90% of cost of improvements, botterments, additions and extensions,
under conservative restrictions. Rod., all or part, at 101 and int. on any
Int. date on 60 days' notice. The gen. mtg. bonds are limited to $12,500
per mile; callable at 101 and int. V. 102. p. 1625: V. 104. p. 452.
EARNINGS.— For years ending June 30:
Year—
Gross.
Ezo. A Taxes.
Net.
Interest.
Surplus.
1917-18----- $232,109
$160,892
$71,217
$76,050 def.$4,833
1916-17 ------ 208,864
129.352
79.512
71.313
8.196
1915-16 - . 71.019
40,769
33.750
19,200
_____
14.550
OFFICERS.— Pres., K. D Klomm, Kansas City. M o.; V.-P., & Gen.
M gr., W. R. Taylor. Bonnor Springs, Kan.: Sec. & Treas., E. S. Bigelow;
Aud., L. If. Darrow. Office, 919 Baltimore Avo., Kansas City, M o.—
V. 104, p. 361, 452, 2343; V. 105, p. 2184; V. 106, p. 2649; V. 107, p. 1192.
K A N SA S C IT Y , MO.
KANSAS C ITY RAILW AYS.
ORGAN IZATION .— Organized under Missouri laws June 6 1914 and
on Feb. 15 1916 took over tho properties of tho Metropolitan Street R y.,
Kansas Citv Elevated Ry. aud Kansas City & VVostport Bolt Ry. in ac
cordance with the plan o f reorganization of the Kansas City Ry. & Light
Co In V. 101, p 614, 689. 1628. Owns and operates entire stroet rail
way system serving Kansas City and Independence, M o., Kansas City and
Missouri at $25,648,808. plus capital additions after June i 1913. (Val
uation placed on properties in Missouri and Kansas as of April 30 1918,
$35,362,435). On the Missouri capital value, $29,870,028, tho company
receives 6% cumulative, any balance of Missouri earnings, after the appli
cation of $6,148,807 of surplus earnings to additions and extensions, to be
credited two-thirds to the city and one-third to the company. Tho city
having no interest in Kansas earnings, tho income from operation of the
Kansas property belongs entirely to the company. Not less than 16%
of gross earnings must oe applied to raaint., renewals, deprec’ n. Sec., and
not less than 4% to damage claims. Fares (unless reduced at expense of
city s share of surplus income) are fixed at 5 cents for adults and 2 'A cents
for childron botween 8 and 12 (butr-see below). Tho city has tho right to
purchase tho property in Missouri at or before tho end of tho 30-year period
on tho basis o f aforesaid valuation and subsequent additions. Operation
of tho properties to bo under tho supervision of a Board of Control, con
sisting of Fhilip J. ICealy for tho Railways Co. and Robert P. Woods for
the city. City also nominates 5 o f tho 11 directors. Seo franchise ordin
ance in dotail in V. 99, p. 196, and also V. 99. p. 119.
Freight Service.— In Aug. 1918 began operating an express and freight
servico between Kansas City and Independence, M o., and Zarali. Kan.
Seo also V. 107, p. 905.
Wage Increase.— V. 107, p. 402.
Fare Increase— On Juno 2 1918 was auth. by the M o. P. S. Comm, to
Increase fares from 5 cents to 6 cents, effective July 15 1918 for one year.
On Sept. 7 1918 Chief Justice Bond in the Missouri Supreme Court over
ruled tho action of Circuit Judge John G. Slate (who refused to permit tho
co. to file a supersedeas bond in tho 6-cent fare case, thus giving tho city a
5-cent fare,) and auth. the co. to continue charging a 6-cent faro, pending
final decision by tho State Supreme Court. V. 107. p. 1192. On Aug. 28
1918 an injunction enjoining the P. U. Comm, from hearing tho c o .’s appli
cation for a 6-ccnt fare in Kansas was dissolved.— V. 107, p. 1004.
[V ol . 107
In Dec. 1917 Issued $1,000,000 6% 2-year coll, notes for expenditures
already made or to be made for improvements, extensions. &c.
In Feo. 1918 tho M o. P. S. Comm. auth. the co. to issuo $1,151,830 addi
tional capital stock, representing improvements made sinco M ay I 1915.
Up to Sept. 10 1918 this had not been issued.
In July 1918 issued $7,750,000 3-year coll. 7% notes to retire tho $6,
259,000 3-year notes duo July 1 1918, and to pay in part for improvements,
extensions, &c. V. 107, p. 181.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
A-O
Capital stock_____________________
Seo text
See text.
1st mtge gold______c*&r*cpt 1915
5 g J-J
$15,917,400 July 7 1944
2d M ($5,291,000) Seres A . . / 1915
6 J-J
4,023,250 July 7 1944
do
do
Series B__f 1915 _ 5 J-J
1,000,000 July 7 1944
Redeemable at 103 and Int. (New York Trust C o., N. Y.. trustee
Coll gold notes Ser "A ” ($100, 1917
6 g J-D
1,000,000 Dec 11919
$500 and $1,000)___ c*.tf 1918
7 g M-N15 7,750,000 M ay 15 ’21
(Continental Tr. & S. Bk., Chicago, trustee.
Deferred injury & dam’ge ctfs. 1915
See text
700,713.Inly 1 1944
Stock.— The capital stock, fully paid up, is in the nominal sum of $100,000
and Is represented by 62,716.7 preferred and 63,620.5 common parts of no
par value. Trustees for the stock are Robort J. Dunham, Charles W.
Armour and Charles N. Black. It is provided that whenever a corporation
can bo lawfully formed with pref. and com. shares of no specified par value,
with authority to take over tho stock of another corporation as its assets,
tho trustees shall cause one to be organized and shall turn over to It the stock
In their custody, the beneficial certificates to bo canceled and replaced by
pref. and com. shares.
N otes.— The 3-year notes are secured by $10,141,000 1st M . bonds, of
which $8,076,000 were originally issued as 5% bonds, but upon which tho
co. pays an additional 1%; tho remaining $2,085,000 wore issued as 6s.
Tho former are pledged at 75% and tho latter at 82%. Additional notes
may bo issued only upon pledge of additional 1st M . 6%s in those ratios,
or at the c o .’s option, upon pledge of 1st M . 5s at 70%. Red. all or in
part upon 30 days’ notice at 10043 and int. prior to Nov. 15 1920 and at
100 and int. thereafter. Tax refund in Penn. Tho 2-year coll, notos out
standing are secured by $1,219,600 6% 1st M . bonds. Red., all or part,
upon 30 days’ notice at l0O>3 and int. before Juno 1 1919, and 100 and int.
thereafter. Int. on both payable in N. Y. or Chicago without deduction
of normal Federal ineomo tax of 2% . V. 105, p. 2543; V. 107, p. 181.
First Mortgage Bonds.—Of the 1st M . bonds outstanding, $10,150,200
wore Issued under plan In retirement of securities of predecessor cos., and
$5,767,200 to provide for receiver’s certfs., cash requirements of reorgani
zation, for retirement of the company’s 3-year notos and for improvements.
$8,076,000 1st M . 5% bonds (upon which tho co. covenants to pay an addi
tional 1% per annum) and $2,065,000 1st M . 6% bonds are pledged as
security for tho 3-year notes and $1,219,600 1st M . 6% bonds for tho 2-year
notos. Additional bonds may be issued for new construe., add’ ns, ext., &c.
(in Missouri only on certificate of Board of Control), in tho ratio of $1,000 of
bonds for each $1,100 expended. Denominations: c* $1,000. $500, $100;
r*, $1,000, $5,000 and $10,000. Interest payable In New York, Chicago
or Kansas City. Callable as a whole or part at 103 and int. on any int.
date on 60 days’ notice. Trustee, Cont. & Comm. Trust & Savings Bank,
Chicago. See V. 102, p. 2254.
Second Mortgage Bonds.— A sinking fund of $105,820 per annum, which
began Jan. 1 1916, is expected to retiro issue by maturity. $267,100 in
sinking fund and $650 in treasury (not included in amount reported out
standing) as of Sept. 10 1918.
Deferred Injury and Damage Certificates.— Issued at par in exchange for
all approved claims inferior to old bonds but superior to tho stock, for
which no other provision was made in plan. Callablo at par. Bear 6%
interest, cumulative, pavablo only out of net earnings. Not a lien on physi
cal property, but status, as against owners of the stock, is substantially
similar to that of a preferred stock.
Dividends.— An initial dividend of $2 50 on the pref. beneficial certificates
was paid Oct. 1 1916. In 1917, April, $2 50; Oct., $2 50. April 1918
dividend omitted. V. 106, p. 1577. None since.
REPO RT.— For year ending June 30 1917 in V. 105, p. 1993.
-Y ea rs ending June 30- July 8 ’ 14 to
„
1017.
1916.
June 30 T5.
Revenue passengers carried________ 137,394,143 131,075,084 126,307,209
Transfer passengers...... .................... 69.516,515 67.342,528 65,717,735
Total operating revenue___________ $7,408,019 * $7,056,504 $6,0lT,794
'
.............
Net operating revenue_____________ $2,886,084
$2,813,236 $2,504,780
Net, after taxes____________________ 2,412,934
2,378,750
2,108,276
Miscellaneous income_______________
36,484
9,161
15,249
Gross income____________________ $2,449,419
Int. on M o. injury & damage certifs..
34,342
$2,393,999
$2,117,437
Divisible income_________________ $2,415,076
C ity’s share_______________________
411,302
$2,393,999
506,316
$2,117,437
305.703
Company’s sh a re________________ $2,003,774
Company's Income—
$1,887,682
$1,811,733
$1,626,450
257.382
3,851
$1,547 654
262,335
1.745
Company’s gross income_________ $2,003,774 $1,887,683
Deductions— Bond interest__________ $1,442 508 $1,269,724
Kansas injuries and damages (paid
in cash)...........................................
16.864
19,996
Other deductions_________________
13,600
2,193
$1,811,733
$1,459,741
N et from Missouri properties_______ $1,652,722
N et from Kansas properties_________
320,599
Miscellaneous_____________________
Net income_____________________
30,453
$530,741
$595,770
38,034
12,702
$301,255
The total profit and loss surplus June 30 1917, after deducting <400,000
dividends paid and $112,944 appropriated for sinking fund, was $194,844.
F or tho cal. year 1917 gross earnings were $8,005,955 anil net earnings
$1,723,269.
P R O P E R T Y .— Over 309.477 miles o f singlo track equivalent, about 75%
paved; remainder on bridges or private right-of-w ay; 2 power houses, com
bined capacity 60,000 k. w .,a n d 11 sub-stations; 743 m otor ears and trail
ers In addition to work cars.
D IR E C T O R S A N D O F F IC E R S .— Roprosouting tho com pany: Rober
J. Dunham (Chairm an), C hicago; Philip J. Kealy (P ros.), James E. Gibson
(Gen. M g r.), C lyde T aylor (Y .-P res. & G en’l C ounsel), Charles W .
Armour and George S. flo v o y , all o f Kansas C ity, M o.
Representing
tho city : William T Kemper, Frank O . Niles, Davis M Pinkerton, John
W . Wagner and John II. VViles, all o f Kansas C ity , M o. J. A . Harder is
Sec. & Treas.— V. 107, p. 181, 291, 402, 905, 1004, 1192.
KANSAS CITY LIGHT & POWER CO.
ORGANIZATION.— Incorp. Jan. 3 1916 and in Fob. 1916 took over
the lighting and heating properties of tho Kansas City Ry. S Lt. Co. as
c
per reorganization plan. See V. 101, p. 614, 089. 1628. Lighting fran
chises aro perpetual.
The co. has contracted with the General Electric Co. for two 25,000 k.w.
enerator units as tho first unit for Installation In a new power house
esigned for an ultimate capacity of 240,000 k. w. to cost, including equip
ment, $10,000,000. In Oct. 1917 the company purchased a 25-aero site
on tho Missouri River for the purposo.— V. 105, p. 1526, 1713. Delivery
of ono generator has been made and tho other is promised for Jan. 1919.
Construction of tho plant is •expected to bo completed by April 1919. The
co. has boon purchasing its power from tho Kan. City Rys., but as tho lat
ter’s plants aro overloaded it is proceeding to construct its own power plant.
Rate Increase.— On Aug. 13 1918 was auth.by tho M o. P. S. Comm, to
increaso electric light rates by 10%, effectivo Sept. 1 1918. V. 107, p. 806.
STOCK AND BONDS.— Date.
Interest. Outstanding. Maturity.
Stock (see text,)
.
First mtge red at 103 and In t/’ 1915
5 J-J
$3,060,000 July 7 1914
\Oont. & Com. Tr. S Sav. Bk., Chic., trustee.
c
2d mtgo $1,917,300 rod at par/ 1915
6 J-J
1,917.300 July 7 1914
and interest_____________ /Central Trust C o., Now York, Trusteo.
Slock.— Was incorp. with $2,000 nominal capital stock, but in Jan. 1917
was ordered by thi P. S. Comm, to increaso its stock to $4,977,300 to con
form with the amount of 1st and 2d mtgo. bonds approved in Fob. 1916.
On March 16 1918 the co. increased tho auth. amount of stock to $10,000.
000. of which $5,000,000 is full paid ($2,500,000 each of common and 5%
preferred). Par, $100. Tho capital stock is represented by 31,810.3
common and 31,358.3 preferred participating certificates of no par
value. John II. Lucas, T . J. Connors and Oscar Fenley aro the
trustees for the stock. It is provided that whouovor a corporation can be
g
Sept ., 9 8|
ELECTRIC RAILWAYS
K A N SA S C IT Y C L A Y C O U N T Y & S T . JO SE PH R A IL W A Y C O .
On July 5 1915 the Interstate R y . C o. was awardod a verdict for $1,500.
000 against the com pany and the estate o f George Townsend by a Jury In
the Circuit C ourt In Its suit alleging that the defendant com pany had
built Its line between Kansas C ity and St. Joseph on a part o f the right-ofway obtained by the plaintiff (V . 100, p. 130, 288). Case reversed under
stipulated agreement o f settlement.
O R G A N 1ZATLON.— Incorp. In Missouri In 1911 under a 200-year ch a r
ter. In Jan 1913 the line from Kansas C ity to Excelsior Springs, M o ., was
opened, and on M ay 5 1913 opened for operation Its lino botweon Kansas
C ity and St. Joseph, 52)4 miles. V. 96, p. 1423. Also handles freight.
In Dec. 1914 terminal service was begun to Kansas C ity for the Quincy
O m a h a * Kan C ity R R . (O. B. & Q. system ). See details In V 9 9 . p. 1910.
Valuation.— On O ct. 24 1917 filed a roquest with the M o . P. S. C om m ,
for an addition o f about $3,000,000 to its valuation o f $3,900,000 fixed
3 years previous bv the Comm ission. T he co. asked that a proper am ount
bo fixed for going value and for an additional am ount for working capital,
^Commutation*Rates Ordered.— The Missouri P. S. C om m , on D ec. 7 1914
Issued an order requiring the com pany to Issue com m utation tickets begin
ning Jan 1 1915 between Kansas C ity and Liberty, 14 4 miles, on the E xcel
sior Springs Division, and to a distance o f about 10 miles on the St. Joseph
Division. On Dec. 29 1914. however, Judge Van Valkenburgb in the U. 3.
District Court granted a temporary order preventing the Comm ission from
putting the new rates In effect. V. 100. p. 140
Freight Terminal.— The Kansas C ity Freight Term inal C o. was Incorp,
In Feb. 1917 to provide facilities in the city for handling Interurban freight
and express matter. Stock auth. and issued, .$100,000; bonds autli,,
*100,000, o f which $75,000 outstanding. Tho stock o f the co. is owned by
Interests associated with the Kansas C ity C lay C ounty & St. Joseph R y.
and the Kansas C ity Kaw Valley & Western R y. These cos. and the Kan
sas C ity Western R y. and tho Kansas C ity Lawronce & Topeka R.v. have
entered into contracts for tho use o f tho terminal and have guaranteed an
annual tonnage o f 31,000 tons. Tho terminal was opened O ct. 10 1917.
j R. liarrigan is Pres.- J. F . H olm an, V.-Pres.; E . S. Bigelow, Sec. &
Treas.— V. 105, p. 2181.
STO C K A N D BON DS—
Date.
Interest. Outstanding.
Maturity
Stock com $ 10,000,000 (5 100)______
_______
$4,000,000
See text
1st mtge $10,000,000 (S l.-f 1911
5 g M -S
3,135,000 Sept I 1941
000 gold s f red at 105 after!E quitable T r. C o ., N . Y ., and J. F. Dow nSept. 1 1915................ c * t f ( ing, Kan. C ity , Trus. Int payable N . Y
Bonds.— O f the escrow bonds, $365,000 m ay be issued for 80% o f tho cost
o f permanent additions and extensions. Tho remainder can only be is
sued for 80% o f the cost o f permanent additions and extensions, under
conservative- restrictions. Sinking fund o f 1 )4% o f bonds certified , began
Sept. 1 1917.
Dividends.— In 1914, 2% % paid; 1915. June. 1 54 % . In 1916, 4 ) 4 % .
In 1917, Juno, 124% . N o later Information.
E A R N IN G S .— F or years ending Dec. 31:
Cal. Y r.—
Cross.
N et, aft. Tax. Interest, A c ., Dividends.
Surplus.
$349,718
$156,750
$115,000
$77,967
1917_________ $799,379
1916.............. - 717,925
355,914
157,644
165,000
33,270
R O A D — Operates 52.55 miles between Kansas C ity and St. Joseph
M o ., and 28.24 miles between Kansas C ity and Excelsior Springs, M o .,
total 77.61 miles. 70 and 80-lb. T-rail; standard gauge. Passenger
equipment. 20 c.v-s, 5 exp. m otor cars. 5 express trailers, 10 other cars and
1 American electric ditcher, 1 electric locom otive.
O F F IC E R S .—Chairman o f B d ., Allen G . H oyt: Pres., Philip L. Saltonstall, Boston, M ass.; V .-P . & Gen. M g r., J. R. liarrigan; Sec. & T reas.,
W . S. T u loy .— V. 104, p. 1702; V. 105, p . 1898. 2184; V. 106, p. 607.
K A N SA S C IT Y -W E S T E R N R A IL W A Y .— A trolley road.
Formerly the K ansas-C ity-Leaven worth Railroad and name changed to
Kansas City-W estern R y. Has long-tim e franchises in territory served.
Freight Terminal.— See K . C ., C lay C ounty & St. Joseph R y. above.
ST O C K A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
Stock $2,000,000 ($100).............._..........................
$2,000,000 .....................
1st ref mtge $5,000,000 gold 1 1905
5 g M -S
1.650.000 Sept 1 1925
(coup $1,000, r $1,000,1 Interest at Guaranty Trust C o , N ew Y ork ,
$5,000. $10.000)______ ^ t f I Trustee.
Stock and Bonds.— $1,400,000 o f bonds were issued to refund a like amount
o f bonds outstanding o f old com pany, all but $42,000 o f which have been
retired, $100,000 for general corporate purposes and $150,000 for Im prove
ments; remaining $3,350,000 to be issued for acquisitions, extensions and
Improvements under custom ary restrictions. Entire outstanding Issue is
red. on any int. date at 105 and Int. V. 89, p . 1483.
R E P O R T .— For year ending Juno 30 1916. net, after taxos, $55,620; int.
on bonds. &c. $82,712; deficit. $27,092.
R O A D .— Owns and operates 4.3.75 miles o f road, o f which about 18 miles
are within the city o f Leavenworth and 2524 miles between Ft. Leavenworth
and Kansas ( Mty, Kan. Enters Kansas C ity , M o ., over tracks o f the Kansas
C ity Viaduct & Terminal R y ., which owns and operates a Htoel and con
crete viaduct connecting Kansas C ity , K an., with Kansas C ity , M o . lias
second entrance into Kansas C ity over tracks o f tho M etropolitan Street R y .
. O F F IC E R S .— ( ’ . F. Holmes, Pres.; O. F. Hutchings, V .-P . and G en. A t
torney: S. D . Hutchings. Sec. and Treas.; J. G . Herrlon. Supt.; W .M .
Bonar Aud. General office, Leavenworth, K an.— V 90. p. 110, 368.
M ISSO U R I & K A N SA S IN T E R U R B . R Y .— Known as ‘ ‘Strang L ine.”
O R G A N IZ A T IO N .— Incorporated in Kansas under Gen. R R . law. In
1909 receiver appointed the previous year was discharged, and old com pany
resumed control. V. 86. p. 1467; V. 89. p. 1281. M otive power changed
from Strang gasoline cars to electricity in 1908. V .8 7 . p .6 1 4 . Has private
right o f way about 80 feet wide from Kansas C ity to Olathe.
STOC K A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
Stock $1,000,000 ($100)..........................................
$1,000,000 .....................
First mortgage $600,000 g old ) 1906
5 g J-J
600,000 Jan 1 1956
($ 1 0 0 0 )
--------------
----------------c j F i d e l i t y T r u s t C o . , K a n s a s C i t y . T r u s t e e .
E A R N IN G S .— For cal. year 1916. gross, $115,049; net, $37,745.
In
1915, gross. $103,129; not, $38,721.
R O A D .— Operates 20 miles o f road from Kansas C ity through Southridge, Morrison Ridge, Milburn Place, Overland Park and Lenexa to Olathe
Enters Kansas C ity over tracks o f the Kansas C ity Itys. 70-lb. rails.
Has 13 cars, including passenger and freight. Construction o f a line from
Olathe to Ottawa. 26 miles, is under consideration.
O F F IC E R S .— Pres., W . B. Strang; V .-P ., H. O . Brent; Sec. & T reas.,
E . N . Daniels; Gen. M g r., T hos. R iley. General offices. Overland Park,
Kansas.— V. 87, p. 614; V . 89. d . 12X1
KENNEBUNK, ME.
A T L A N T IC S H O R E R A IL W A Y .
O R G A N IZ A T IO N .— Incorporated In M aine on Jan. 1 1911 (per plan In
V . 91, P 860)
successor to the*Atlantlc Shore Line lty . (sold at fore
closure D ec. 1 1910). which com pany was a consolidation In April 1906 o f
the old Atlantic Shore Line R y. and the Portsmouth Dover & Y ork Street
R y . Tho former com pany In April 1904 purchased the Sanford & Cape
Porpoise R y., tho M ousam River R R . and the Sanford Power C o. In June
1909 the Alfred Light & Power C o. was acquired. Does a freight business.
Second & Gen. M . bonds were Issued at 80 with 100% stock bonus.
Default.— The Initial obligatory cou pon , duo Oct. 1 1915. on the $641,750
4 % ref. M . bonds was defaulted. V . 101, p. 1464. All other coupons
due on and after O ct. 1 1915 are also In default.
Receivers.— Pres. F. O. Oonant and Treas. Constant Southw orth, both
o f Portland, were appointed receivers by the U. 3. C ircuit C ou rt. P ortland.
V. 101. P- 15.52.
Portsmouth Dover & York St. Ry.— On M a y 1 1917 W . G . M eloon , Ports
m outh, N. H ., was appointed separate receiver and manager o f this co .
The property comprises 42 in. o f track connecting Portsmouth and Kittery
with Dover and South Berwick, including a line to York Beach.
Fares.— On Aug. 18 1917 was auth. b y tno M aine P. U. C om m , to increase
the number o f its fare zones by three. In June 1918 filed with the M aine
P. U. Com m , a new fare schedule, effective July 7 1918, providing for an
increase in passenger fares from 6 to 7 cents (except in the zone between
Sanford and Springfield where a reduction from 6 to 5 cents was m ade).
T he schedule also provided for an increase in tho price o f strip tickets,
having 9 coupons, from 50 to 55 cents. V. 106, p. 2648.
S T O C K A N D B O N D S — Date.
Interest. Outstanding.
M aturity.
.................. *l.OOO.OO0 ______ ______
Stock *1.000.000 ($ 10 0 ).......................
Gen lien M *1,50.000 red atl
1911 5 J-J
150.000 Jan. 1 1931
102 and interest___________ I
Refund mtge *2.600.000......... 1910 See text
641.750 Jan. 119 4 1
Atl Sh Line lstcon s M S I .000,- J
1904 5 g A-O
361.500 A pril 1 1934
OOOg ($500, * 1 .000) c* _cpt\Int. at C olum bia T r. C o .. N. Y ., trustee.
Atl Sh Line 1st M *125.000 cp t
1904 5 J-J
120.000 Jan. 1 1 9 2 4
A lf Lt * P 1st \1 *250.0001
1905 5 g J-J
250,000 July 1 1935
($500 aud *1 .0 0 0)____ c p t l l n t . at C olum bia T r. C o ., N Y ., trustee.
Sanf & Cape Porp'se 1st M .c p t
1898 5 J-J
246.000 Jan. 1 1928
Mousam River 1st mortgage . 1892
6 J-D
59.000
See text
Portsmouth Dover & York St. Ry.— Under Separate Receiver.—
P D & Y 1st M $650.0001 1903
4)4 J -D
450.000 June
1923
gold ($1,000)_____________ (State Street Trust C o .. B oston, trustee.
P D & Y 2d M and e x t/ 1905
5 g J -D
57,000 April 1 1925
$100,000__________________ \Int. at Augusta, M e ., Trust C o ., trustee.
P K * Y St Ry 1st M * 2 00 ,-( 1897
6 g M -S
200.000 M a r. 1 1917
OOOg ($500 and $ 1 .0 0 0 ).. \Int. at W atervllle. M e ., T r. C o ., trustee.
B ow ls.— O f the refund, bonds, *1,893,500 (in t. rate not to exceed 5 %
are reserved to retire prior liens, *64,750 (int. rate 4 % ) are fo r Im pts. and
additions and remaining $641,750 are outstanding and were exchanged for
securities o f Atlantic Shore Line R y. Outstanding bon Is bear int. at 4 % ,
which was payable for first 5 years o n ly If earned. N o Interest was earned
at 105, to be drawn by lot. See V. 78. p . 2383. The A lfred Light Sc
Power bouds are subject to call at 105.
M ousan River bouds matured D ec. 1 1912, but have been extended.
Portsmouth Dover A York S'. Ry.— The bonds o f 1903 can be called at
105 and int. The 2d 5s can be called at par on any int. date. T he 6s o f
1897 can be called at 105.
R O A D .—Operates 37 miles o f track, connecting Sprlngvale. S an ford ,
West Kennebunk, Kennebunk, Kennebunkport and C ape Porpoise with
Blddeford and Saco; thence over connecting lines to Old Orchard and P ort
land. See V 81, p. V549. A link from York Beach to Kennebunk, 16
miles, was put in operation July 21 1907. T otal. 53 miles. Owns 2
water-power plants and 1 steam plant with generating capacity o f 3,000
k.w . Has 40 cars and 2 electric locom otives. 60. 70 and 80-lb. rail.
R E P O R T .— For calendar year:
Calendar
Gross
Operating
Net
A ll
Interest on Balance
Year—
Earnings. Expenses. Earnings. Taxes. Bonds. A c . D eficit.
1917 .................. $231,757 $198,440 $33,317
$6,182 $92,595 $65,460
1016 .................. 351.216
291.379
59,837
7,741 117,106
65,010
1 9 1 5 ......... ........ 349.866
285,561
64.305
7.626
114,738 58.059
Latest Earnings—
Gross.
Expenses.
D eficit.
Jan. 1 to Sept. 1 1918.........................$121,729
S151.154
$29,425
N ote.— On M a y 1 1917 the Atlantic Shore R y . was divided east and west
o f York Beach. M aine, the western end passing to the operating control o f
the Portsmouth Dover & York St. R y . The figures from M a y 1 1917 on,
are for the Atlantic Shore R y . as at present constituted.
O F F IC E R S .— Receivers. Frederick O. Conant and Constant Southworth;
A ct. G en. M g r., S. T . D o w .— V. 101, p. 1464, 1552; V . 106, p. 2648.
KENNETT, PA.
W EST C H E S T E R K E N N E T T & W IL M IN O T O N E L E C T R IC R Y .
O R G A N IZ A T IO N .— Incorporated In Pennsylvania on M ay 24 1905,
and is a reorganization o f a com pany o f the same name sold under foreclosure
lu April 1905. On Feb. 26 1908 absorbed the form erly controlled Oxford
W est G rove & Avondale St. R y
See V . 86. p. 670.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
Maturity.
________
$525,000 ___________
Com m on $925.000_____ ____________
Pref ($75,000) 6 % non-cum ............................... ..
75.000 ___________
First mtge $1,000,000 gold? 1905
5 g J-D
420,000 June 1 1935
($500 and $1.000)____c t f /I n t . at Integ. T .I .T r . & S .D f ‘ o ..P h ila .. T r.
E A R N IN G S —For vear ending D ec. 31 1917. gross. <65.971: net. after
taxes. $10,476. In 1916, gross, $67,051; net, after taxes, $18,910.
R O A D .— About 20 miles o f track between West G rove, A vondale, K ennett Square and W ilm ington, connecting at Kennett for West Chester.
T he extension from Avondale to O xford, 12)4 miles, has been com pleted as
far as West G rove and Is in operation to that p oint. Gauge. 5 ft. 2)4 In.
60 and 70-lb. T and girder rail.
O F F IC E R S —Pres. Geo. Kessler, Phila.: V .-P ., Clarence L. Harnor.
P hila.; See. & T reas., Philip E. Guckes, Phila.: Gen. M g r., B . F . W ickersham, Kennett Square, P a.— V. 94, p. 831: V. 95, p. 177.
KEOKUK, IA.
C E N T R A L M IS SIS SIP P I V ALLEY E L E C T R IC P R O P E R T IE S .
O R G A N IZ A T IO N .— Formed in Illinois by a trust agreement dated
D ec. 12 1913, under which there are deposited with trustees all the com m on
stock o f the Keokuk Electric C o. (see below) and all the capital stocks o f
Fort Madison Elec. C o. and Dallas C ity Light C o . These com panies d o
the entire electric railway, electric lighting, power and gas business In
K eokuk la . the entire electric lighting and power business In Fort
M adison, la ., and Dallas C ity , 111., the entire electric railway and
lighting business In Hamilton and W arsaw, 111., and operate an Inter
urban electric railway between Keokuk. H am ilton and Warsaw (largely
on leased lines).
Franchises.— T he electric railway and elec. lighting franchises In K eokuk
expire in 1936, the gas franchise in 1928. T he electric lighting franchise
In Hamilton expires In 1936; the Important railway franchise In 1931.
T he electric lighting franchises In F ort M adison and Dallas C ity expire
In 1938
Stock, auth. and outstanding: C om m on, 7,500 shares (no par value)
6 % cum . pref. stock (par $100— red. at 110). $750,000. N o bonds.
E A R N IN G S .— For years ending Juno 30 (com bined com panies):
Year.
Gross
N eU aft.Taz). Interest. Sink.Fund.
Surplus.
1 91 7 -1 8 .................. $325,079
$86,225
$26,671
$5,000
$54,554
1916-17 .................. 298.802
91,644
20,111
5.000
06.533
Dividends.— An initial dividend o f 114% was paid on the pref. stock In
M arch 1914: same rate quar. to and Incl. Sept. 1917. N one since.
R O A D .— M iles o f equivalent single track, 7.99; trackage, 6.14: standard
guage; cars, 20 passenger and 1 other. A ll power Is purchased from the
Mississippi River Power C o.
O F F IC E R S .— Pres., G eo. H lgglnson, J r.; V .-P ., Harry T . Edgar; S ec..
Joseph L. Valentine, Chicago, 111.; T reas., H . B . Sawyer; Asst. Sec., Alvah
K . T o d d ; Gen. M grs., Stone & W ebster M g t. A ssn.— V . 98, p . 72, 610.
(1) K e o k u k E le ctric C o .
O R G A N IZ A T IO N .— I corp. In III. on D ec. 5 1911 as successor to the
Keokuk Elec. R y. & Pow. C o .; Keokuk Gas & Elec. C o .; H am ilton L t.
& Power C o. and Keokuk & Western Elec C o ., control o f which
purchased in 1911 by Stone & W ebster M g t. Assn. Does the entire electric
railway, electric lighting, power and gas business in Keokuk, la .; tho entire
electric railway and electric lighting business in Hamilton and Warsaw, 111.,
and operates an interurban electric railway between Keokuk, H am ilton and
Warsaw (largely on leased lines).
Franchises.— Seo C ent. M iss. Valley E lec. Properties above.
ST O C K A N D B O N D S—
Date.
Interest.
OutstandingMaturity.
Com m on $650,000 ($100).
Q -F
$650,000 N ov 17. 1M
Pref $250,000 ($100) 6% cu m
Q -F
250,000 M a y 18. 1)4
Keokuk El Ry & Pow 1st M l 1901
6 J-J
165.000
See text
$250,000 (closed m tg e ).n t f (C ent. Trust C o . and H E'. Am bler. Trustees.
5-year bonds $150,000 .............. 1918
6%
150.000
1923
Notes payable June 30 1918 - --------------------143,500 -----------------Stock.— Com m on stock Is all owned b y C ent. M iss. Vail Klee. Properties.
Prof, stock Is rod. at 110. B oth classes o f stock are tax-free in Illinois.
was
_
lawfully formed with prof, and com . shares o f no specified par value with
authority to take over the stock o f another corporation, as Its assets, the
trustees shall cause one to be organized and shall turn over to It the stock
In their cu stod y. the beneficial certificates to bo canceled and replaced by
prof, and com shares.
Bonds.— Additional 1st M . bonds m ay be Issued, with Int. to be deter
mined at time o f issue, not to exceed 6 % , for exts., add'ns & Im pts., on a
fixed basis. A sinking fund on tlio 2d M . bonds o f $38.346 per ann. from
net earnings ot herwise available for d lvs., which began Jan 11916, is ex
pected to retire Issue by m aturity. $107,500 in sinking fund.
Dividends
An initial dlv. o f $2.50 upon each pref. participating certifi
cato was paid O ct. 2 1916. Same amount s.-a . (A . & O .) since to and
incl. April 1 1918.
E A R N I N G S . — G r o s s earnings, year end. M ay 31 1917, $3,392,825; 1916
$2,849,640; 1915, *2,513,424; 1913-14, $2,408,736; 1912-13, *2,156.952.
O F F I C E R S . — I’res., J o s e p h F. l ’ o r t e r ; S e c . & T r c a s . , I t . J . C l a r k . —
V . 104, p. 1804; V. 105, p. 1214, 1526, 1713; V. 106, p. 825, 1581; V. 107,
p. 806.
_______
57
ELECTRIC RAILWAYS
58
Bonds.— T he K eokuk E lec. R y . & Power first m tge. 5s are due serially
1918 to 1925. R ed. any int. day at 105 and Int. $85,000 canceled. T he
notes were Issued to p ay o ff $150,000 K eokuk Gas L t. & C oke 1st M . 5s
due Jan. 15 1918.
Dividends.— DIvs. on pref. have been paid since organization. Initial
d lv .o n c o in .— 2 % —p a id In Feb. 1 9 1 4 ;M a y , \H % : A ug.. 2 % (V .9 9,p .4 0 7);
N o v ., 2 % . In 1915 and 1916, 6 % . In 1917, 5 % . N one since.
E A R N IN G S .— For years ending Juno 30:
Year—
Gross.
NeU.aft.Tax.) ■ Interest. Sink.Fttnd.
Surplus.
1 9 1 7 -1 8 .................. $256,596
$67,085
$25,260
$5,000
$36,824
1 9 1 6 -1 7 __________ 240,083
74,072
20,078
5,000
48.994
R O A D , & c.— Seo Central M iss. Valley E l. Properties above.
O F F IC E R S .— Pres., Harry T . Edgar; V .-P ., Goo. Higglnson Jr.; S ec.,
Alvah K . T od d ; T reas., Henry B . Sawyer; Gen. M grs., Stono & W ebster
M g t. Assn.— V. 97, p . 1583, 1898; V . 98, p . 73; V. 99, p . 467; V. 106, p. 396.
K E W A N E E , IL L .
G A L E S B U R G & K E W A N E E E L E C T R IC R Y .
O R G A N IZ A T IO N .— Incorporated M a y 1902. Is a reorganization o f
the Galesburg & Oneida E lec. R y. C o.
E ffective July 1 1918, was auth. b y the 111. P. U. C om m , to Increase fares
from 5 cents cash fare and 25 tickets for $1 to 6 cents cash fare and 18 tickets
fo r $1 on city linos. The co. has applied for auth. to increaso fares from
5 to 7c. on interurban lines and for increases in rates for round-trip tickets.
STO C K A N D BON DS—
Date.
Interest. Outstanding.
Maturity.
C om m on $200,000 ($100)........................................
$200,000 ___________
P ref $400,000 ($100) 6 % cu m ............
..............
110,800 .....................
First mtge $400,000 ($500 &1 1906
5 g J-J
400,000 July 2 1920
$1.000) g o ld __________ c& r/ I n t .a t C o n t .& C o r a .T r .& S a v .B k .,C h ic .,T r.
Bonds.— Are red. on any int. day at par and Int. N o 8. f.
E A R N IN G S .— For 12 m os. ending D ec. 31:
Year—
Gross.
N et.
Deprec'n. In t.& T a xcs. Deficit.
1 9 1 7 ........................$81,415
$25,435
$12,000
$26,309
$12,874
191 6 .............. .......... 76,114
27,243
12,000
24,836
9,593
R O A D .— Has city line In Kewanee and Wethersfield and Interurbau
between Kewanee and G alva. T otal track operated 14 miles. 70-80-lb.
T and girder rails. Gauge 4 ft. 8)4 In.
O F F I C E R S — Pres., W . H . Lym an; V .-P ., J. K . Bllsh; S ec., F . M .
L ay; T reas., J. II. Baethke; Gen. M g r., R . II. H ayward.
K E Y P O R T , N . J.
-E R S E Y C E N T R A L T R A C T IO N C O .— T rolley.
Control.— The American Railways C o ., which see under Philadelphia, P a .,
owns all the com m on stock.
O R G A N IZ A T IO N .— A consolidation In M a y 1917 o f tho old Jersey
Central Traction C o . (see “ Electric R y ." Sec. for M a y 1917) and tho
Central Jersey Traction C o. (incorp. Feb. 1 1917 to lease the property and
franchises o f the Jersey Central Traction C o .). A t the same time the
M iddlesex & M onm outh E lectric Light, Heat A Power C o ., which was
controlled b y the Traction C o. through ownership o f 442 o f the 500 shares
o f capital stock, was merged with and into tho M onm outh Lighting C o .,
whose entire $305,000 outstanding com m on stock is owned by tho American
R y s . C o ., which in turn is controlled by the United National Utilities C o .
T ho Lighting C o . purchased the power house, transmission lines and sub
stations form erly owned and operated b y the Traction C o. and sells power
to the latter under con tract.
Fare Increase.— In Sept. 1918 tho N . J. P . U . C om m . auth. the co . to
charge 6 cents in the form er 5-cent zones. V . 107, p. 1004.
STOCK AND BON DS—
Date.
Interest. Outstanding. M aturity.
C om m on $5,000,000 ($100)................ ' .................
$531,400 .....................
Pref 6 % cum $600,000 ($100)............
6%
600,000 ____________
First m tge gold $5,000,0001 1917
5 g M -S
800,000 M ar 1 1947
($ 1,0 00 )________________ t f /I n t . at C om ’l Trust C o ., Phila.. trustee.
Stock.— Preferred stock is redeemable at 105 three years after issue.
Bonds.— Guaranteed, p. & L, by tho American Rys. C o. Callable in
whole or part after M arch 1 1922 at 102 >4 . Additional bonds m ay be
Issued for additions, extensions, A c.
R E P O R T .— For calendar year 1916 (lncl. M iddlesex & M on m ou th E l.
L t ., li t . & Pow. C o .), gross, $347,138; net, after taxes, $144,834; in t., A c ..
$98,819: surplus, $46,014.
R O A D .— Owns and operates 36.03 miles o f road from South A m b o y ,
K eyp ort and Belford to Red Bank; Belford through A tlantic Highlands to
Highland Beach; Freneau through M atawan to K eyport, N . J. Standard
gauge 60-lb. T and 70-lb. girder rails. Nearly all over private right o f way.
32 passenger cars, 29 freight cars and 1 suow -plow . An extension from
South A m boy through M echanlcsvllle and over tho Raritan River Bridge
to Perth A m boy was com pleted In 1910.
O F F IC E R S .— Pres., Van Horn E ly; V .-P res., C . L . S. Tingley; Gen.
M gr. Sc V .-P res., H . J. C row ley; Sec. A T reas.. W alter W . Perkins.—
V. 104, p. 452, 1702, 2235; V. 105, p. 389, 1309; V . 107, p . 1004.
KEY
W EST, FLA.
K E Y W E S T E L E C T R IC C O .— A trolloy road.
O R G A N IZ A T IO N .— Incorporated In New Jersey In 1898 and does entire
olectric railway and electric-light and power businoss o f the city; also owns
franchises for manufacture o f gas. Franchise expires 1997. In Juno 1906
was acquired by Stone A W ebster o f Boston and re-capitalized as bolow.
V . 82, p. 1496. Fublic Service Investm ent C o. owns $374,100 com m on
stock and $222,000 preferred stock.
STOCK A N D BONDS—
D ale.
Interest. Outstanding.
Maturity.
C om m on $500,000 ($100)........................................
$500,000 .....................
P ref $350,000 ($100) 6 % cu m ............
Q -M
270.000 .................. ..
First mortgage $1,000,0001 1906
5 g F-A
470.000 Aug 1 1950
g o l d _____________________t f l i n t , at State Street Trust C o ., B oston. T r.
Pref. Stock.— Remaining $80,000 pref. stock Is hold In trust for the benefit
o f the com pany. Redeemable at 110.
Bonds.— Are subj. to call as a whole or In part for s. f. at 105 and Int. at
any tim e. A sink, fund o f 1% o f bonds out began Dec. 1 1907, If earned:
on D ec. 1 1912 became obligatory.
$83,000 in treasury not incl. In out
standing am ount. $40,000 canceled.
E A R N IN G S .— For years ending June 30:
Year—
Gross.
Nett aft.Tax.) Interest. Sink. Fund.Surplus.
1 9 1 7 -1 8 .................... $166,118
$60,411
$23,802
$5,563
$31,045
1916-17....................... 127,271
42,436
24,506
' 5,635
12,294
R O A D .— Operates 5.41 miles o f track; 10 cars. Gauge 5 ft. 2)4 In.
Power station capacity, 840 k.w .
O F F IC E R S .— Pres., George J. Baldwin, New York; V .-P s ., Henry G .
Bradlee and Harry H . Hunt; S ec., Alvah K . T od d ; T reas.. Henry B .
Sawyer; M g r., R . G . C arroll, K ey W est, Fla.; Gen. M grs., Stone & W ebster
M g t. A ssn., B oston.— V . 82. p . 1496: V . 94, p. 1508.
[V o l . 107
K N O X V IL L E , T E N N .
K N O X V IL L E R A IL W A Y & L IG H T C O .
Controlled by Am erican Cities C o . (see under N ew Orleans), which owns
all the stock.
O R G A N IZ A T IO N .— Incorporated In Tennessee on A ug. 5 1905 as a co n
solidation o f the Knoxville Traction C o. and the Knoxville Electric Light &
Power C o. D oes all the street railway and all municipal and com m ercial
electric-lighting and power business In Knoxville and servos various nearby
com m unities. Also controls the Knoxville Park Association, owning tw o
amusement parks. Franchises are perpetual, oxcept as to 1)4 miles o f
street railway, which latter run until N o v . 28 1946.
In 1911 $1,500,000 com . and $500,000 pref. stock was all made one class
and Increased to $2,050,000.
Has favorable long-term contract with Tennessee Power C o . for the pur
chase o f electric power.
In D oc. 1916 Issued $1,534,000 ref. and oxt. M . 5s, proceeds being used
to retire $325,000 2-yoar 6 % coll, notes due July 1 1017 (paid o ff Jan. 3
1917 at 100)4) and $1,062,000 con sol. M . 5s due Sept. 1 19 45, which were
called for paym ent on M arch 1 1917 at 107>4. V . 103, p. 2238.
S T O C K A N D B O N D S—
Date.
Interest.
Outstanding.
M aturity.
Stock $2,050,000 ($100).....................
J-D
$2,050,000
See text
R ef & ext mtge $10,000,0001 1911
5 J -D
3,306.000 Juno 1 1946
($500 and $1,0 00 )_ c * c p t /l n t . at Guaranty Trust C o .. N . Y ., Trustee.
_
Knoxville T rac 1st M $ 85 0 ,-i 1898
5 g A-O
810,000 April 1 1938
000 g tax-free ($1.000). .c * ( I n t . at Baltim ore Trust C o .. B alt.. Trustee.
2-year debentures ($400,000). 1917
6%
$400,000 Jan 1 1919
Bonds.— O f the ref. & ext. m tge. $810,000 are reserved for Knoxville
Traction 1st 5s and $5,856,000 are reserved for 80% o f cost o f extens..
add’ns, lm pts., A c.. under conservative restrictions. Bonds are rod. as a
whole, but not In part, at 105 and Int. on 60 days’ notice, or may bo pur
chased In open market at a price to not not less than 4 1 4 % . Annual sink
ing fund began O ct. 1 1915, equal to f t o f 1% o f total amount o f bonds out.
$28,000 In sink, fund Sept. 1 1918. P ena. State tax rofundod. T ho Knox
ville Traction C o . first m ortgage bonds are not subject to call. $40,000
have been canceled.
Dividends.— First dividend on com m on— 2 % —-June 29 1907, 1% was
paid Sept. 1907 and, 1% Dec. 1907; in 1908, 4 % : In 1909, 7 % ; In 1910, 8 % :
In 1911, 10% . Then stock all m ade one class and In June 1912 paid 3 )4 % :
D o c., 3 1 4 % . In 1 9 1 3 ,7 1 4 % . In 1914, 4 % . Stock all owned by Ameri
can Cities C o and dividends no longer m ade public.
E A R N IN G S .—
Gross
N et (after
Interest. Surplus for
Cal. Year—
Earnings.
Taxes).
& c.
Renew., A c .
1917..........
$1,087,072
$432,684
$219,644
$183,040
1916...............
997,684
431,254
214.235
217,019
939,451
349,520
209,637
139,883
1915..........
R O A D .— On D oc. 31 1917 owned 54.352 m . o f track, lncl. 13.761 miles
o f double track; standard gauge; 70-lb. and over T and girder rail. Has 29
open cars, 82 closed and 10 work cars; total, 121. Power station (hold In
resorve) has 6,800 k. w. capacity.
O F F IC E R S .— Pres. & Gen. M g r., O . H . H arvey: V .-P ., W . S. Shields;
Sec. & T reas., C . J. Plem lng; Asst. S ec., J . A . M cK en n a: Asst. T roas.,
H . J. Pritchard; A ud ., O. A . Briggs.— V . 102, p. 1163; V. 103, p. 2238;
V . 107, p. 501.
________ . __________
K O K O M O , IN D .
IN D IA N A R A IL W A Y S & L IG H T C O .
O R G A N IZ A T IO N .— Incorp. in Indiana on D ec. 7 1912 as a consolida
tion o f the K okom o M arlon A Western T rac. C o ., K okom o Frankfort &
Western Traction C o. and K okom o Public U tility C o. Acquired tho G al
veston Light A Power C o. as o f M ay 31 1916 and Issued $10,000 pref. stock
to pay for same. In Feb. 1917 purchased the Converse Light & Power C o .
and issued $100,000 1st M . bonds and $55,000 pref. stock to pay for sama
and for extensive additions and lmpts. to equipment in the power plant
at K okom o. Carries on an Interurban and street railway businoss aud
furnishes electric light and power In K okom o and 22 smaller towns and
villages; also steam boat In K okom o. All franchises hold by the co . woro
surrendered In 1917. Is now operating under indoterminato perm it o f
the Ind. P. S. Com m .
In July 1917 tho Oakland Coal C o ., a subsidiary, purchased the mine o f
the T . C . Bugg Coal C o. at Oakland C ity . In d ., to insure this c o .’s fuel
supply.
Rates.— In 1918 was auth. to increaso all local and Intra-State froight,
express and passenger tariffs. C om pare V . 106, p. 1901.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
Maturity.
C om m on $2,000,000 ($100)..............
Q -F
$2,000,000 A ug. 1 8 .1 %
6 Q -M
495,000
See text
Pref cum $1,000,000 ($100)..............
1st & ref M sk fd $5,000.0001 1912
5 g J-J
1,251.000 Jan 1 1943
($500 and $1,000) g c * -t f/U n io n Trust C o. o f Indianapolis, Trustee.
Kok M ar A W 1st M $1,000.-1 1903
5 g J-J
650.000 July 1 1933
000 g ($500 A $1,0 0 0 )c * n tf/interest at Security T r. C o ., Ind.. Trustee.
Stock.— Preferred stock Is non-voting. In addition to the am ount re
ported outstanding $20,000 Is held In treasury. Subject to call at 105.
Bonds.— O f the 1st A ref. bonds, $650,000 are reserved to retire the K . M .
& W . bonds, $26,000 are held In treasury and $3,070,000 are for additions,
betterments, A c., under certain restrictions. Red. on any int. date at 105.
Sk. fd. 1% began Jan. 1 1917. In lieu o f retirement o f bonds, com pany
may at Its option set aside annually for perm, a d d ’ ns, lmpts. A extensions,
at not exceeding 80% o f cost thereof, a sum equivalent to 1 )4 % o f tota l
amount o f refund, bonds out. Int. payable at Spencer Trask & C o ., N . Y .
V. 95, p. 1684. K. M . & W . 1st M . bonds are subj. to call at 105 and Int.
See V . 70. p. 1143; V. 77, p. 451.
Dividends.— 6% Is being paid on the pref. stock. On com m on. 1% s.-a .
to A ug. 1915. when 1 )4 % was paid. In Feb. 1916, 1 )4 % : A u g., 2 % :
N o v ., 1% . In 1917, 4 % . In 1918, M a y, >4 o f 1 % ; A ug., 1% .
E A R N IN G S .— Years ending D ec. 31:
1917.
1916.
1915.
Gross oarnings_________________________________ $611,315 $544,468 $463,099
N et earnings...............
$312,812 $326,410 $273,632
Other incom o__________________________________
8,639
2,962
2,620
In t., ta^cos, deprec’n, pref. dividends, & c— 178,577
163,159 159,223
Batanco, surplus.................................................... $142,874 $166,213 $117,029
Latest Earnings.— For 7 mos. ond. July 31 1918, gross, $368,802; not,
$167,579; other Income, $8,572; in t., taxes, depreciation and prof, d lvs.,
$124,514; surplus. $51,638.
R O A D .— Operates 53 miles o f Interurban electric railroad from M arlon
through K okom o to Frankfort and 9 miles o f street railway In K okom o.
Is connecting link between the Tecro H aute Ind. & East. T rac. C o . and the
Union Traction C o. o f Indiana. Standard gauge, 70-lb. T rail. On D oc.
31 1917 had 8.199 light and power and 143 heat consumers.
O F F IC E R S .— Pres., Geo. J. M arott; V .-P ., L. J. Kirkpatrick; T roas.,
A . R . Holliday; Sec., L. B. Ilodgin; A ud. Sc A sst. Sec., Karl A . Goorgo,
Gen. Supt. & Asst. T roas.. P. II. Palmer.— V . 90, p. 486; V. 106, p . 1901.
L A C O N IA , N . H .
K IN G S T O N , N . Y .
K IN G S T O N C O N S O L ID A T E D R R .
O R G A N IZ A T IO N .— This Is a consolidation on D ec. 111901 o f the Kings
ton C ity R R . and tho Colonial C ity T raction.
S T O C K A N D B ON DS—
Date.
Interest. Outstanding. Maturity
C om m on $200,000 ($100)........................................
$200,000 .....................
Preferred 4% cum $ 2 0 0 ,0 0 0 ..____
________
200,000 Aug ’ 1 7 .3 %
First consolidated m ortgage! 1901
5 g J-J
532,000 Oct 9 1951
$700,000 ($1,000) g o ld c * t f(I n t . at Bankers Trust C o .. N . Y ., Trustee.
Second mortgage $250,0001 1909
5 J-J
N one
Jan l 1939
($ 1 ,0 0 0 )__________________ /I n t. at Bankers Trust C o ., N . Y ., Trustee.
Kingston City RR.—
Consol $150,000 ($1,000) n otl 1893
5 M -S
149,000 M ar 1 1923
subj to call before m at’y . t f / I n t . a t'F a rm ers’ Loan & Trust C o ., N . Y .
M ortgage on car barn_______ ’ ____
5 quar.
6.000 On dem and.
Bonds.— $156,000 o f tho $700,000 consolidated m ortgage is reserved to re
tire the Kingston C ity R R . underlying liens; $12,000 have been canceled.
Dividends.— 4 % was paid yearly on pref. stock from consolidation up to
1908, when 2 % was paid Aug. 1. N one to Jan. 1 1911, when 4% was paid.
N one up to Sept. 1 1914, when 3 % was paid. In 1915, April, 3 % : A ug.,
6 % . In 1916. A ug., 3 % . In 1917, April, 3 % ; A ug., 3 % . N on osln co.
R O A D .— Embraces 8 miles o f track. Ralls, 70. 80 and 90-lb. 40 cars
2 snow plows.
R E P O R T .— For year ending D ec. 31 1917. gross, $55,907: taxos, A c.,
$42,391: d lvs., $12,000: surplus. $1,516. In 1916, gross. $146,035; net.
$56,402; Int., taxes. Sic., $45,669; dividends, $6,000; surplus, $4,798.
O F F IC E R S .— Pres., FVed. T . Ley, Springfield, M ass.; V .-P ., Henry C .
i i i W orcester, M ass.: Sec., G . B . te Bow, Kingston: Treas., A bm .
Hasbrouck, N ew Y ork .— V . 89, p . 225, 529; V . 90, p . 303.
L A C O N I A 'S T R E E T R A IL W A Y .
In N ov. 1906 control changed hands, and the new Interests also acquired
control o f the Lacoala Electric Lighting G o.
O R G A N IZ A T IO N .— Formerly the Laconia Sc L akeport Street R y .. but
name changed to above in 1894.
S T O C K , A c .—
Date.
Interest. Outstanding.
Maturity.
Com m on $100,000 (par $ 50)........................... ........
$100,000
Prof 6% cum $40,000 ($100)............................... ..
40,000
5 M -N
91.000 M ay 1 1919
First mortgage $91,000 ($1. 1899
000) ........................................ Interest at American Trust C o ., Boston.
5 M -N
40,000 M ay 1 1919
Second
m ortgage
$40,000 1904
________
Interest at People's National Bank, Laconia.
($1,000)_______
Dividends.— In 1893-94 paid 5 % ; In 1894-95 patd 4 % ; none since.
R O A D .— Own* 8.87 miles o f track from Laconia to Weirs. Standard
Centre
11 pasaenrer and 2 other cars.
E A R N IN G S .— For years ending D ec. 31:
Calendar Year—
Gross. N et, afterTax. B d .T n t.,& c. Deficit.
1917....................................
$34,373
dof.$G85
$7,302
$7,987
1916....... ..........................
39,857
2,482
7,341
4,859
LA CROSSE, WIS.
W IS C O N S IN R A IL W A Y . L IG H T A P O W E R C O .
O R G A N IZ A T IO N .— Incoq>. In Wisconsin on Jan. 16 1913 and has a c
quired and now owns In fes all the property form erly belonging to the La
Oroese W ater Power C o ., the La Crosse C ity R y . and the Winona (M inn .)
Ry A Lt. C o. Does oloetrio-ltcht aad power businee* In W inona. M in n .,
and Onalaska WIs., and operates street railways In Winona and La C rosse.
Owns hydro-electric plant at H atfield, W Is., with transmission lines to La
Crosse and W inona, at whloh cities (t also has steam reserve plants.
ELECTRIC RAILWAYS
S e p t ., 1918.]
S T O C K A N D B ON DS—
Date.
Interest. Outstanding.
M aturity.
C om m on $1.230.000....................................................... S I .230.000 .......................
First & ref M $10,000,000/ 1913 5 F-A
2,220.000 Feb 1 1933
($1,000) gold ................ c * tf(F irs t Trust C o .. M ilw ., Trustee.
La Crosse C ity B y 1st M
1909
5 g J-J
220,000 July 1 19 2 9
(closod rntge) ($1,000)— c l l n t . at W isconsin T r. C o .. M ilw .. Trustee.
Bonds.— O f tUe $2,225,000 1st & ref. bonds outstanding, $325,000 h a te
been deposited with trustees b y owners, under an agreement which provides
that, while so in escrow, they shall be subordinate and junior in every
respect to $1,400,000 bonds sold to the banks. Such escrow bonds can be
released from escrow only in lots o f $50,000 or multiples thereof, under
certain restrictions. The m tge. provides that $2,225,000 may bo issued at
par for corporate purposes o f the com p any. Bonds in addition to the
$2,225,000 may be issued as follows: $220,000 to retire La Crosse C ity
bonds and $75,000 to retire a like amount o f bonds which m ay be Issued for
certain additional property: Remaining bonds are issuable at par (a) to
redeem at par any underlying bonds or any m tge. debt existing against
any property acquired, not exceeding, however, at par, the reasonable
value o f such property: and (b) for not exceeding 75% o f cost o f any addi
tional property, with certain restrictions. Bonds red. on any int. date at
105 and Int. Sinking fund. 2 % per annum, began in 1918. Int. payable
at office o f trustee, or at office or com pany or at its New Y ork agency.
E A R N IN G S .— F or years ending June 30:
12 Months—
Gross.
N et, aft. Taxes.
Interest.
N et Income
1917-18...................... $482,842
$172,271
$137,971
S34.299
1916-17____________ 432,259
, 153,001
126,804
26,197
R O A D .— 24 miles o f track.
O F F IC E R S .— Pres., Clem ent C . Smith; V .-P . & Gen. M g r., J. P.
Pulliam : V .-P ., Peter Valler; Sec.-Treas., Howard Greene; A ct’g Soc.T reas., II. C . M ackay; Asst. Sec., G eo. J. Chaffee; Asst. Treas., S. M .
R otherm el. Operations are directed from President’s office in M ilwaukee
in connection with the operations o f the W isconsin Public Service C o . and
other public utility properties. V . 98, p. 692; V. 99, p. 1750, 1830.
W ISC O N S IN M IN N ESO TA L IG H T & PO W E R C O .
C om m on stock all owned and properties managed b y Am erican P ublic
Utilities Co
O R G A N IZ A T IO N .— Incorp. in W isconsin. D ec. 2 1901 as the La Croase
Gas & Elec. C o. (successor to the La Crosse Gas Light C o ., the LaCroase
Brush El. L t. k Pow . C o. and the Edison L t. & Pow. C o .) On June 24
1914 changed name to Wisconsin Minnesota Light k Power C o . and in
creased its auth. stock from $900,000 to $10,000,000 and merged the
Chippewa Valley Ry Lt. k Power C o . (incorp. in W ls. in 1898) and the
Chippewa Valley Construction C o. In 1914 acquired the property o f the
W inona Gas Light & Coke C o ., R ed W ing Gas Light & Power C o ., M inn e
sota-W isconsin Power C o .. Eau Claire Gas Light C o. and Neilisvllle E lec
tric C o. V . 99. p. 1758. In July 1917 purchased the property o f the
B loom er (W is.) Elec. Light & Power C o. V . 105, p . 296. Owns and op er
ates electric light and power, street and interurban railway, gas, dom estic
water, and hot water heating properties in Eau Claire, La Crosse, Chippewa
M enom inee, Sparta, Tom ah and Viroqua, W ls., and W inona, W abasha,
Lake C ity, Twin Cities and Red W ing, M inn. Operatos under an indeter
m inate permit vranted b y the W isconsin R R . C om m , and is protected
against com petition b v any other public utility doing a similar business.
Has contract with Northern Stages Power C o. to supply lt with electric
energy for 30 years which began in 1917.
In 1918 the Wis. R R . C om m . auth. increases In gas, electric, water and
heating rates. In July 1918 streot railway fares in Eau Claire and Chippewa
Falls were increased to 6 cents and tho rate on interurban linos was in
creased to practically 3 cents per mile.
S T O C K A N D B ON DS—
Dale.
Interest. Outstanding. M aturity.
C om m on, $5,000.000...............
$2,500,000
_________
P r e f .,$5,000,000 (7 % cu m .)..............
Q -M 1
5.000.000 Sopt. '1 8 .1 )4
1st & ref M *20,000,000 g o ld l 1914
5 g M -N
8.899.000 M ay 1 1944
($500Jc$l,000)c*($1
In t. payable In N . Y . or C hicago,
rod aft M ay l'1 9 @ 1 0 5 * ln t ( Harris Trust k Sav. B ank. C hicago; T rustee,
I Albert W . Harris C o ., Trustee.
Ohipp V Ry L & Pow 1st M l 1907 5 g J-J
510.000 July 1 1924
(closed)$2,000,00fl($l,000)g/Int. at Harris T r. k 8avs. Ilk., C hic.. Trustee
220,500 ___________
Eau Claire Gas Light C o _____ _____
W inona Gas Light <c C oke C o _ ____
5
300,006 ___________
Red Wing Gas Light & P . C o ..................................
250.000
..................
Stock.— Pref. stock is pref. as to assets and dividends. Additional pref.
stock may be issued only under conservative restrictions. The pref. stock
m ay elect a m ajority o f th e’directors whenever four consecutive quarterly
dividends remain unpaid or the property is shown to be inefficiently m an
aged or depleted. see V. 99, p . 54; V. 106, p. 1797.
Bonds.— O f the 1st & ref. bonds o f 1914. $510,000 are reserved to retire the
Chippewa Valley R y .. Lt. & Pow . bonds. Escrow bonds can be Issued to re
tire prior liens and for 75% o f cost o f ext. and add’ ns (provided $250,000 Is
expended for ex t., k c . , without the issue o f b on d s), but only as regards the
first $2,750,000 bonds. In case the annual net earnings are 1U times the
total int. charge. Incl. bonds applied for; balance may be issued when net
is 154 times int. charge. V . 98, p . 1995. Sinking fund payablo on the
basis o f tho following percentages o f the bonds outstanding, including under
lying bonds- 1 % yearly 1919 to 1928. 1 )4 % 1929 to 1938, and 2 % 1939 to
1943; either to r.u >re bonds or for extensions and additions.
Dividends.— Initial div on pref. stock o f 1 ^ % paid Sept. 1 1914; same
rato quar. since to and Incl. September 1918.
E A R N IN G S .—
Gross
N et (after
Bond
Preferred
Balance.
Year Ending—
Earnings. Taxes, A c.) Interest. Dividends. Surplus.
M a y 31 1918..............$1,785,242 $867,318 $316,681
$350,000 $200,637
D oc. 31 1917............. 1,712,220 896,480
298.862
291,200 306,418
D ec. 31 1 9 1 6 ............... 1,277,090 681.531
242,801
162,354 276,376
R O A D . P R O P E R T Y . & C.— Owns and operates 25 miles o f electric
railway. Incl. interurban line on private right-of-w ay between Eau Claire
and Chlppowa Falls and local lines in those cities. Present rated capacity of
com pany’s hydro-electric and steam plants approximates 66,700 h p .
Ultimate developm ent 150.000 h. p . Owns over 375 miles o f high-tension
transmission lines. Also owns and operatos gas properties in La Crosso,
com prising 55)4 miles o f mains.
O F F IC E R S .— Pres., Jos. II. Brewer; V .-P ., W . B . Persons; V .-P . k
Gen. M g r., P. D . Kline; Treas., O . A . B oalt: S ec., Blalno G avett; Asst.
Sec.-T reas.. W . .T. R ipley.— V. 104, p . 766; V . 105, p . 296, 1106, 1899;
V . 106, p . 1797; V . 107, p . 516.
______
LAKE CHARLES, LA.
L A K E C H A R L E S R A IL W A Y . L IG H T & W A T E R W O R K S C O .
O R G A N IZ A T IO N .— Incorporated In Louisiana In 1909. In June 1909
the com pany acquired the Lake Charles Street R y . C o ., operating an electric
railway in Lake Charles and Lake Charles Ice, Light k W ater Works C o .,
which operatos an ice plant, electric-Ught and power departm ent and
water system.
Franchises expire; street-railway, 1941; electric light and power, 1926;
water-works, 1921. self-renewing every 6 yoars thereafter unless city buys
plant.
ST O C K A N D B O N D S —
Date.
Interest. Outstanding.
Maturity
Stock $200,000...........................................................
$200,000 ___________
First m ortgage *500.000 gold ] 1909
6 g F-A
150.000
See text
($500 and $1.000)______ c*|Inter-State T r. k Bkg. C o .. New O rl., Trus
Bonds.— Remaining bonds are for improvem ents and extensions on basis
o f $1 in bonds for each $1 33 o f Improvements, k c . Bonds mature $15,000
soml-ann. Trom Aug. 1 1912 to Feb. 1 1922. both Incl.; redeemable on any
int. day on 30 d a ys’ notice. Int. is payable at o ffice o f trustee or at Chicago
Savings Bank k Trust C o ., Chicago. $150,000 has been retired.
E A R N IN G S .— For cal. year 1916, gross, $208,189. In 1914. gross.
$247,965. In 1913, gross, $231,444.
R O A D .— Consists o f 9 miles o f track. 60-lb. rails.
O F F IC E R S .— Pres.. J. A . Landry: S ec.. I». O . M oss.— V . 89. p . 919.
LANCASTER, PA.
L A N C A S T E R C O U N T Y R A IL W A Y & L IG H T .
Controlled b y the United Gas & Elec. C orp.— See under N ew Y ork .
O R G A N I Z A T I O N — Incorporated on June 15 1901 In Now Jersey. Own*
and controls the following railway, gas and electric properties, whose stocks
ars placed under the m ortgage o f 1901:
ConM toga Traction G o..
IEdison Eloctrlc C o .
Lane. Gas Light & Fuel G o.
j
Also controls the Conestoga R ealty C o.
59
Franchises are perpetual. D oes all the gas and electric lighting In cities
o f Lancaster and Colum bia, and practically all in Lancaster C ou n ty.
M erger.— In Jan. 1918 applied to Penn. P . S. C om m , for auth. to merge
Into a new corporation, to be known as the C onestoga T ra c. C o ., the
Lancaster T ra c. C o ., Lancaster R y ., Lancaster C ity , Lancaster k Lititz,
C olum bia & Ironville, Colum bia & D onegal, and the present Conestoga
T rac. C o . V . 106. p. 395.
In D ec. 1917 increased auth. capital stock from $2,500,000 (o f which
$1,000,000 5 % cum . pref.) to $3,750,000.
On A ug. 2 1918 the Conestoga T raction C o . increased its fares from 5
to 6 cents.
STOCK A N D BON DS—
Date.
Interest. Outstanding.
M aturity.
Stock com . $2,000,000 ($50..............
Q -M
$ 1 ,600,000 J u ly '18. 3 )4
Pref. $1,750,000 ($50) 5% c u m ____
Q -M
1.248.100 July 18. 1 M
M tge $1,000 000 gold ($500/ 1901
5 g J-J
1.000.000 July 1 1951
and $1,000)_____ c * n t f . . I Interest at Lancaster T rust C o .. T rustee.
Securities o f Lines Controlled—
C on ostT rac 1st M $2,000,000 1900
4 J-J
1.277.500 Jan 1 1 9 5 0
($100. $ 5 0 0 & $ l,0 0 0 )-.c* tf Int. a tP r o v . L ife & T r. C o ., P hila., Trustee.
Lancaster C ity R R 1st m tge 1890
5 g A-O
160,000 A pr 1 1920
($100 and $500)............c * tf Int. at M etropolitan T r . C o ., N . Y .. Trustee.
W E St R y 1st M $225,000 1891
5 M -N
225.000 M a y 1 1921
($100 and $500).......... c* tf Int. at M etropolitan T r. C o ., N . Y .. Trustee.
Lancas T ra c 1st M ($100. 1893 5 A-O
225.000 A pr 1 1923
$500 and S1.000)..........c * tf In t. at Lancaster T ru st C o ., L ane., T rustee.
Lane G L k F 1st M *300.000 1895 5 J-J
300.000 Jan 1 1925
($ 1 .0 0 0 ).........._............. e n tf Int. at Lancaster T rust C o ., L ane., Trustee.
Second m ortgage $400,000 1906
5 J-J
100,000 Jan 1 1936
($ 1 .0 0 0 )___________ c * t f Int. at Lancaster T ru st C o .. L ane., Trustee.
Third m tge $100,000 gold 1911 J-J
100.000 Jan 1 1936
($ 1 .0 0 0 )..................... c * t f Int. at Lancaster T ru st C o ., L ane., trustee.
Colum bia Gas C o 1st m tge 1911
5 J-J
75.000 Jan 11941
$200,000 ($ 1 ,0 0 0 ).-C *tf Int. at Farmers' T r. C o ., Lancaster, Trustee.
Edison Elec C o 1st k ref M
1913 5 F-A
1,657.000 Feb 1 1943
tf Lancaster Trust C o ., Lancaster. T rustee.
*5.000.000 ________
Edison Elec Ilium C o 1st 1895
6 J-J
290.800 July 1 1925
M *300.000 ($100. *500 Interest at Lancaster T rust C o .. Lancaster,
Trust66
k $1,000) .............. c& rtf
C ol EJ L H & P 1st M gold 1905
5 M -N
125.000 M a y 1 1935
$125,000 ($1,000) _c& rtf In t. at People's T rust C o .. Lancaster. Trust.
Conestoga R ealty C o 1st M
1908 5 M -N _____
248.000 M a y 1 1958
$500,000 sink fund _______fIn t. at Lancaster T rust C o .. L ane., T rustee.
________
g c ._ t
Bonds.— O f Conestoga T rac. 1st M . bonds, $610,000 reserved to retire
rior liens, $112,500 reserved to be used for the reduction o f rentals.
Of
anc. Gas Lt. k Fuel 2d M . $300,000 are reserved to retire 1st M . bonds.
Lane. Gas L t. & Fuel 3d M . bonds are redeemable at 105 and Int. on any Int.
date on 3 m o s .’ notice. Colum bia Gas C o . bonds are red. on any Int. date at
105 and Int. on 90 days' notice. $125,000 reserved for future Im prove'ts at
85% o f cost thereof. O f Edison Elec. C o . 1st and ref. bonds. $285,000
reserved to retire underlying bonds; remainder held in treasury for lm pts.,
extensions, k c ., at 8 5% o f cost thereof; red. as a whole, but not part, at
105 and int. on any Int. date. Colum bia E lec. Light, H . & P. bonds are
red. at 110 and Int. on any int. date. T he bonds are guar, b y the Lane.
C ounty R y . & L t. C o . Conestoga R ealty C o . bonds are red. at par and int.
on any int. date upon 3 m os.' notice. Sinking fund an am ount set up
m onthly sufficient to retire bonds at m aturity.
Dividends.— T he first dividend on the preferred stock (3 % ) was paid on
July 1 1904 and 3% was again paid on O ct. 1 1904. In 1905, Jan ., 3 %
(see V . 79, p .2 7 9 6 ); July. 3 % ; D e c., 4 ) 4 % . In 1 9 0 6 .6 )4 % . In 1907, 7 % .
In 1908 and since. 5 % . On com m on, in 1908 to 1912, incl.. 1 0% : In 1913.
1 2% : in 1914. 1 1 )4 % : In 1915. 1 4 )4 % ; In 1916, 1 5 % ; in 1917. 1 7 )4 % ; in
1918. M a r., 2 « % ; J u ly, 3 )4 % .
R E P O R T .— For year ending D ec. 31 1917, earnings (less expenses and
proportion o f surplus o f sud . cos.;, *399,694 (against $375,128 in 1916);
bond interest, $50,000; pref. d iv ., $51,137; surplus, $298,557.
Combined Results o f Subsidiary Companies— Calendar Years.
Year—
Gross.
N et(aft.T ax).
Charges.
Balance.
$953,754
$461,048
$492,706
1917.................................... $2,211,132
1 9 1 6 - . . ............................. 1,941.783
883.413
448,893
434.520
R O A D .— T he Conestoga Traction C o . (the operating com pany) leases
163.75 miles o f track, Including the Lancaster C ity Street R y .. 16.76 miles;
Lancaster & Colum bia. 8.26 miles; Lancaster & Liiitz, 9.19 miles; C olu m
bia k Ironville. 4.27 miles: Colum bia & D onegal, 5.16 miles; Lancaster k
Mechanlesburg k New H olland, 20.80 miles; the N ew Holland Blue Ball &
Torre Hill Street R y .. 4.99 m .; tho Rohrerstown Landlsville k M t. J oy R y ..
13.87 m .; the Lancaster & Eastern R y ., 17.74 m .; the Lancaster & Quarryville Street R y ., 8.44 miles; the Elizabethtown k Florin Street R y ., 6.40 m .;
the Christiana & Coatesville St. R y ., 11.04 miles; Lancaster k M illersville
R y .. 4.67 miles; Lancaster W illow Street L a m p e te r* Strasburg R y ., 11.23
miles; the Lancaster Petersburg & Manhelm R y .. 8.33 miles: the Ephrata k
Adam stow n, 7.99 m .. and the Lancaster k R ock y Springs, 4.61 m iles.
Subsidiary gas companies had 10.755 gas meters in use on M a r. 31 1918.
Lines Leased to Conestoaa. Traction Co.
Stock.
Name o f Company—
Rental ( % ) . M iles.
20.80
.$300,000
8
. 440.000
6
13.87
225.000
6
7.99
. 200.000
6
461
. 120.000
5
4 99
6
430.000
17.74
. 225.000
6
8.44
. 220,000
6
6.40
. 365.000
6
11.04
6
8.33
. 175.000
. 225.000
6
11.23
. 37.500
20
8.26
O F F IC E R S .— Pres., W . W Griest; V .-P ., George Bullock; Sec. and
Asst. T reas., J. A . M cK enna: T reas., H. J. Pritchard: Asst. Sec.-T reas.,
J. M . G roff.— V . 93. p. 1783: V . 105. p . 2543; V . 106. p. 396. 602.
E
L A N C A S T E R & Y O R K F U R N A C E S T R E E T R Y .— A trolley road.
O R G A N IZ A T IO N .— Incorp. M a y 17 1916 In Pennsylvania as successor
to old Lancaster & York Furnace Street R y. (Incorp. July 22 1901), bought
in b y the bondholders on Apr. 15 1916 for $125. subject to the m ortgage for
$150,000 (V . 101, p. 212; V. 102. p. 1540). Operations, which had been
discontinued In Jan. 1916. were resumed M a y 19 1916.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
Maturity.
Stock $100,000 ( $ 5 0 ) ...................... ..............................
$100,000 .....................
1st M gold $150,000 ($100/ 1908
5 g J-J
150.000 Jan 1 1928
$500 k $ 1.0 0)___c A r n t f/I n t. at Northern T r. k Sav. C o ., Lane.,trust.
Bonds.— Are not subject to call and have no sinking fund.
R O A D .— Operates 12)4 miles o f track between M illersville and York
Furnace. 60-lb. T rail. Gauge 5 ft. 2)4 In.
O F F IC E R S .— Pros. & Gen. M gr.. J. B. Harnlsh; V .-P ., John H . W are;
Treas., Elam H . M yers; Sec., John H . M yers; S upt., H . M . H auffer.—
V . 92. p . 187; V. 101, p. 212, 2145; V. 102, p. 153. 1249, 1540, 1625, 2077.
LAUREL, MISS.
L A U R E L L IG H T & R A IL W A Y C O .
O R G A N IZ A T IO N .— Incorp. In M iss. Owns and operates the lighting .
power and street railway system In the cities o f Laurel and Elllsvllle, M iss.,
and an electric Interurban railway between the tw o cities. The lines ou t
side the cities and 2 miles in Laurel are on private right o f w ay. Franchises
(n Laurel extend to Sept. 1936: in Ellisville to Mar 1937.
Fare Increase.— A t an election held July 12 1918 the co . was granted
auth. to charge a 6-cent fare. V . 107. p . 501.
S T O C K A N D BON DS—
Date. Interest.
Outstanding.
M aturity.
Com m on stock ________________
$425,000 ___________
Preferred stock. 6 % - ........................................
75.000 -------- --------First m ortgage $500,000 go ld ! 1911
6 g J-J
408.000 July 1 1936
($1,000)...........................c* tf| ln t. at Fidelity T rust C o ., N. Y .. Trustee.
80,000 .....................
Laurel El P & L t C o m tge.............................
Bonds.— $80,000 1st M . bonds are reservod to retire underlying bonds;
remaining $ 13.000 ars Issuable for additional property
N ot subj to call.
12 mos. to ---------------- Years ending Dec. 31------------E A R N IN G S .— A p r. 30 T 8 . 1916.
1915.
1914.
1913.
G r o s s .............................$128,202 $124,049 $121,756 $120,602
$99,264
N e t ................................ 60.371
59.633
49.082
46.640
38.887
R O A D , k c .— Comprises 6)4 miles in Laurel and 9)4 miles between
Laurel and Elllsvllle; total. 16 miles. Owns a pleasure park between
Laurol and Elllsvllle.— V . 104, p. 452; V . 105. p . 1802; V . 107, p . 501.
[Vo l . 107.
ELECTRIC RAILWAYS
60
LAWRENCE, KANSAS.
Traction Co. V. 92. p. 1436. The entire stock Is owned by Kentucky
Securities Corp. Franchises perpetual except those on 1 mile In Winchester
KANSAS ELECTRIC UTILITIES CO.
. ^
expiring in 1927.
ORGAN IZATION .— Organized In Kansas In Sept. 1915 to acquire the
Fare Increase.— In April 1918 increased cash fares on lnterurban lines
properties o f the Lawrence Ry. S Lt. Go.. Emporia Ry. & Lt. Co. and from 244 cents to 3 cents a mile. Through fares from Lexington were
c
Farsons Ry. & Lt. Co. Supplies electric light, power and street railway increased 5 cents for each one-way ticket. V. 106, p. 1689. The co. has
service In Lawrence. Emporia and Farsons. Kan. Franchises expire in asked tho City Council to amend its franchise so that a 6-cent fare may be
1929. 1931 and 1938 and contain no burdensome restrictions. Also owns
all the capital stock of the Sidney (O.) Electric Co., Union City (Ind.) charged on city lines.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Electric Co and United Lighting Co of Albion Fa.
$2,093,400 ...................
Fares.— In Sept. 1918 the co. applied for authority to charge a 7-cent Stock *2.500.000 (* 100)........................................
1st A ref mtge *7,500.000 gf
1911 5 g F-A
2.797.000 Feb 1 1951
fare. V. 107, p. 1004.
(*1.000) guar p S I__ c*tf \int. at Commercial Trust Co.. Phila . Trust.
c
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity. Lex Ry first mtge $1,500.0001
1899 5 g J-D
1.445.000 June 1 1949
Stock. *1,750,000......................................................
$400,000 .................
gold ($1.000).............. c*tf lint, at Continental Tr. C o .. Baltimore, Trus.
First mtgo, *1,750.000 (S l.-f 1915
5 A-O
1,171.000 Oct. 1 1925 Blue Grass 1st mtgo *700.0001
1904 5 g M-S
237.000 Mar 11934
000. *500 & 8100) g.c* tflln t. at Cont. & Conun. Tr. & Sav. Bank.
g (8500 and *1,000).. .c& rtflln t. at Cleveland Tr. Co., Cleveland, Trus.
Tax refund in Fennsylvanial Chic.. Trustee, and First Nat. Bk., N. Y. Georgetown & Lexington first!
1901 5 g M -N 1 5
198,000 Nov 15 1921
Bonds.— Remaining bonds may be issued for 80% of cash cost of extens.,
mtge *250.000 gold (* 100,j Interest at Cincinnati Tr. Co., Trustee, aud
Impts. and addns. under conservative restrictions. Callable on 60 days'
*500 & *1.000)_____c&rtfl at Guaranty Trust C o .. New York.
notice, all or part, at 10244 and int. Sinking fund began Jan. 1 1917
Bonds.— Of the 1st S ref. bonds, *1,733,000 are reserved to retire prior
c
of 1% of bonds out from 1917 to 1920 incl., and 2% thereafter. Bonds to liens and remainder for extensions, improvements. &c.. at not exceeding
be held alive in skg. fd. In addition a fund is to be set aside annually for 90% of cost under certain restrictions. They are redeemable as a whole
betterm'ts which will amt. to abt. *172,500 by 1925. V. 102, p. 803 on February 1 1914 or any Interest day thereafter or In part for sinking
Earnings.— Of consolidated cos. for year end. Dec. 31 1917. gross, fund on any Interest day after November 1 1921 at 105 and Interest.
*348.084: net. after taxes, *120,097. In addition the not earnings of con Bonds are guaranteed prln. S Int. by end. by the Kentucky Secur.Corp.
c
trolled cos. applicable to dlvs. for the year end. Dee. 31 1917 were *35.561. Sinking Fund 44% per annum of bonds out.. 1921 to 1930; 1% 1931 to
R O A D .— Owns and operates 10 miles o f street railway in Lawrence
1950. V. 92. p 1564. The bonds are listed on Phila. Stock Exchange.
4.8 miles in Emporia and 7.8 miles In Farsons: total, 22.6 miles. 60-70-lb
V 94. p. 1119. Sinking fund will retire 1% of Lexington Ry. bonds
T rail. 30 motor cars, 7 trail cars and 1 combination work and snow car.
annually: *191.000 wore hold In s. f. Sept. 1 1918
OFFICERS.— Fres., Albert Emanuel, N. Y. City; V.-F., Irving Hill
ROAD.—ODerat.es 96.7 miles of track comprising all street railways in
Lawrence, Kan.; Treas., C. B. Zeigler, N. Y . City.— V. 107, p. 1004.
and about Lexington, 16.2 miles; Frankfort, 6.7 miles: Winchester, 1.2
miles: Georgetown, 1.2 miles; lnterurban lines radiating from Lexington
to Versailles, Georgetown, Paris, Frankfort and Nlcholasville, 67.6 miles;
LE ET O N IA , O H IO .
sidings and spurs, 3.8 miles. 50 to 80-Ib. rails. Standard gauge. Owns
YOUNOSTOWN & OHIO RIVER R R .— A trolley and steam road. 34 closed and 15 open cars. 17 lnterurban passenger, 1 ice, 3 freight and
Freight service operated by steam; passenger service by electricity.
4 service cars.
ORGAN IZATION .— Incorporated in Ohio on Dec. 8 1905. In 1906
OFFICERS.— Pres., Percy M . Chandler, Phila. V.-P., F. W. Bacon,
leased for 99 years Salem RR. from Pittsburgh Lisbon & Western RR. Co. Philadelphia; Sec.. T. D. Murray, Lexington: Asst. Sec., W. J. Devine,
for *6.000 per annum: the former runs between Salem and Washingtonvllle. Phila.; Treas., J. Will Stoll, Lexington; Asst. Treas., Jerrv W. McMeekln,
7 m- in 1910 road was ro-capitallzed and new securities Issued as below. Loxington; Gen. Mgr., S. H. Dailoy.— V. 106, p. 396, 1689; V. 107, p. 696.
Federal Control.— The road is being operated under Federal control,
(2) L e x i n g t o n Utilities C o.
being classified as a short line steam railroad. V. 106, p. 2759.
ORGANIZATION , &c.— Incorp. on Juno 5 1909. Stock auth. and out,
Fare and Rate Increases.— In June 1918 increased passenger rates to 3
cents a milo and increased freight rates to conform to rates on Govt, *100.000. All stock Is owned by Kentucky Securities Corp. Does Ice and
oiectric-light and power and gas business In Lexington. Light and power
operated steam roads. V. 106, p. 2759.
franchises expire In 1936. Gas and Ice franchises are perpetual. Power
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. plant has rated capacity of 9,000 k.w. Dally capacity of ice-manufac
Stock common *1,000.000.....................................
51.000,000 Dec.’ 16.1% turing plant, 75 tons.
_______
1,000,000 M ar.'18.1'4
Preferred *1,000.000 5% c u m .___
(3) Lexington Ice Co.
First mortgage *2.500,000/ 1910
5 A-O
1,200,000 Apr 11935
ORGANIZATION, &c.— Incorp. April 1917. Stock authorized and
gold (*1,000)..................c* Int. at Citizens’ Sav. & Tr. C o., Cleveland,
outstanding, *25,000; all owned by Kentucky Securities Coro. Made a
l Trustee, or First National Bank, N . Y.
Stock and Bonds.— Pref. stock dlv. is cumulative from July 1 1913. 50-year lease of plant and business of Consumers Ice & Cold Storage Go.,
Bonds subject to call on any int. date at 105 and int. Remaining bonds of Lexington. Has entered Into contract with Lexington Utilities Oo. for
sale of that company’s ice output.
are reserved for acquisition and extension under certain restrictions.
Dividends.— Dividends on pref. began In 1910 and in that year 144 % was
paid. In 1911, 344%; In 1912. 444%: In 1913 and 1914, 3**% ; In 1915,
41 4% .. In l916, 5% and 3% extra, paying up all accumujations. In 1917,
WESTERN OHIO R R .— A holding company.
I n 1 9 1 8 , M a r c h 1 'A % (V .1 0 6 , p . 2 7 5 9 ). I n it ia l d iv . o n c o m m o n o f
ORGANIZATION.— Incorporated In Ohio on June 7 1910 to take over
% p a id in D e c . 1 9 1 6 .
N o n e s in c e .
under lease the Western Ohio Ry. but lease was canceled by vote of stock
E A R N I N G S . — F o r years ending Dec. 31:
EARN ING S.— For
Year ending
Gross
Exp., Taxes
Net
Bond
Balance. holders on June 28 1915 and the company's electric light and power plant
at Sidney sold to the Standard Power S Equipment Co. and all Its other
c
Dec. 31—
Earnings.
A Rentals.
Earnings.
Interest.
for Dies
1917................. *356,559
*237,463
*119.096
*60,000
S59.096 property and assets to the Western Ohio Railway Co. except the stock o f
that company owned. Holders of com. stock of Western Ohio Ry. had
1916........... ..
332,028
200,979
131.049
54.611
76,438
UOAD.— Operates from the terminus of the Stark Electric Ry. in right to exchange before Jan. 1 1911 their stock for stock of Western Ohio
Salem. Ohio, through the city of Salem to a connection withthe Salem R R ., RR. on baslsof 3 sharee of Ry. for one share of RR. V . 90, p. 1556. 29,278
and over the Salem RR. from Salem through Washingtonville, Leetonia, shares were so exchanged. Stock auth., *1,000.000; issued, *990,900.
Lisbon and West Point to East Liverpool, Ohio, a distance of 36 miles.
(1) Western O hio Ry.— A trolley road.
At Leetonia, O., connection is made with the Youngstown & Southern R v .,
ORGANIZATION.— incorporated In Ohio on Oct. 11 1900. This Is one
Owns 32.19 miles of track and leases 6.81 miles. Standard gauge, mostly of the Mandelbaum roads and forms a link In the through car service from
70-lh T rail
Pass equip., 7 cars: freight, 3 locomotives. 15 cars.
Cleveland to Lima. Outside of municipalities has private right-or-way.
OFFICERS.— Pres., Chas. S. Thrasher; V.-P. & Gen. M gr., J. D. Franchises in towns are for 25 years. Owns entire common and pref. stock
Dewees; Sec. & Treas., Warren Blcknell; Aud. & Asst. Treas., It. F. Miller; or the Lima Findlay & Toledo Ry. V. 83. p. 97. 157, 381. Has contract
Operating Mgrs., Warren Bicknell Co. General office, Leetonia, O.; to furnish power until April 30 1923 to Lima & Toledo Traction, Ft. Wayne
executive offices, 304 Citizens’ Bldg., Cleveland, Ohio.— V. 101, p. 450, Van Wert& Lima Traction and Tndiana Columbus & Eastern Traction.
1887, 2146; V. 102, p. 523; V. 103, p. 494, 1120, 2429; V. 106, p. 2759.
Was leased to the Western Ohio RR., by which It Is controlled through
stock ownership, but lease was canceled In 1915. See remarks above.
Stockholders on June 28 1915 voted to make the 1st prof, stock redeema
L E W IS T O W N , PA.
ble at 107 44 to put the company In position to retiro the stock when the
LEWISTOWN & REEDSVILLE ELECTRIC R Y.
*2.500,000 1st M. bonds mature on Nov. 1 1921 and arrange a compre
Controlled by the Penn Central Light & Power Co. o f N. J. (V. 96. p. 493) hensive financial plan
Fares and Rates.— Effective Aug. I 1918, tho co. was auth. to increase
and operated in connection with tne Penn Central Light & Power Co.
(Penua.). All o f the stock and some of the bonds are subject to the lien passenger rates. V. 107, p. 403. On Aug. 15 1918 the I.-S. C. Comm,
auth. an increase in freight rates.
of the mortgages of the Penn Central Lt. & Power Co.
ORGAN IZATION .— Incorporated In Pennsylvania on March 24 1892.
On Feo. 27 1918 was auth. by the Ohio P. U. Comm, to sell at 80 *50,000
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity. 0% Gen. Mtge. bonds, proceeds to be used for add’ns, exts., and impts.
V. 106, p. 1128.
_______
*150.000 ’07-’08. 5
Stock *1504)00 (8 5 0 ).. . . . . . . ___
Bond Interest Deferred.— Due to tho severe weather conditions during
1st M g (*500 and *1,000) 1899
5 g J-J
150,000 June 1 1919
*150,000 not callable, .c&r Int. at Merchants Union Tr. C o., Phila.. Tr. tho winter of 1917 and the resulting Increased cost o f operation, tho co,
R ef Mtge *500,000................. 1917
5 A-O
68,000 Oct 1 1949 found itself unable to meet tho bond Int. due M ay 1 1918 on Its 1st M .
bonds. Payment of same was made on Sept. 1 1918. Compare V. 106,
Phila. Trust Co.. Phiia., Trustee.
Second Mtgo. 5s originally fell due May 1 1917, but were extended to p. 1797.
M ay 1 1949. They aro owned or controlled by Penn Central Light S
c
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity,
Power Co. All the outstanding ref. mtge. bonds aro owned by the Penn. Common *30,000 ($1)...........................................
#30,000 ...................
Central L. S P. Co. They were issued for exts., impts., &c.
c
1st pf *500.000 (5100) 7% c u m
476,000 Apr’ 17.1 M%
Dividends.— 1902 to 1908, incl., 5% per annum. None since.
2d pf *500.000 ($100) 6% c u m .
450,000 Jly'14,1 44%
EARN INGS.— For year ending Juno 30 19i8, gross, *178,393; net, 1st VI *3,000.000 g (#1,000) ( 1901
5 g M -N
2,500,000 Nov 1 1921
after taxoo, *15,852; charges, *15,852; balance, none.
*26,500 per in_____c*& rtf/Int. at CIt. Sav. S Trust C o., Cleveland,
c
R O A D . — Operates 10.55 miles oftrack frorrf Lewis town toReedsville and
i Trustee, or First National Bank, N. Y.
Lewistown June., with a branch to Burnham. 67 and 85-lb. T rail.
Collateral trust mortgage/ P'10
6%
24,000 July 1 1930
OFFICER,''.— Pres and M gr., J. 1. Quigley. Lewistown V -P., John F
,
# 5 0 0 ,0 0 0 .......... ..... ........tf (Cleveland Trust Oo., Trustee.
Zimmerman, Phila.; Sec. & Treas., Chas. Day, Phila.; Asst. Treas., C. R. L F & T 1st mtge *600.000/ 1905
5 g J-J
324,000 July 1 1925
Bitting, Phila.; Supt., C. E. Gossard, Lewistown.— V. 88, p. 1128; V. 89,
gold (#1,000)................ ctf/In t. at Citizens' Sav. S Trust Oo., Olevec
p. 919; V. 96, p. 487.
l land. Trustee, or In New York.
General M *500.000............... 1918
6%
See text ...................
Bunds.—Tne West Ohio 1st M. bonds havo no sink. fd. and bonds are not
KENTUCKY SECURITIES CORPORATION.— A holding company
subject to call. *476.000 have heeu canceled. Seo V. 76, p. 160, for agree
ORGAN IZATION .— Incorporated In Virginia on Jan. 23 1911 (V. 92. p ment among bondholders. Coil. tr. bonds are convertible into 1st pref.
322) as successor to the Lexington & lnterurban Rys. Co. per plan in stock and are secured by deposit of #24.000 1st 5s. *476,000 have been
V. 92, p. 461. Owns the entire stock of the Kentucky Traction & Termi converted. No sink, fd.: red. on Nov. I 1921 at 110. As bonds are con
nal C o., Lexington Utilities Co. and Lexington Ice Co.
verted. proportionate amounts o f the 1st 5s which are collateral will be
STOCK AN I) BONDS—
Date.
Interest. Outstanding. Maturity. canceled
Common *2,500,000 ($100)...................................
*2.052,287 ...............
The Lima Flniliay Sc Tol. bonds have a sinking fund of *10,500 per an n .,
Pref *2.500,000 (S100) 6 % f
which began in 1911. Are subject to call at 105. #76,000 have been re
cum from Jan 1 1913______f ____
Q— J15 2.500.000 July ’18,114%
tired. V. 80. p. 2344.
Stock.— Both com. and pref. are listed on Phila. and Louisville stock
Dividends.— On 1st prof. quar. divs. wero paid regularly to and Incl.
exchanges. Pref is also listed on Cincinnati Stock Exchange. Pref Apr. 1917. None since. On 2d prer. first div., 144%, paid Oct. 1910,
stock Is redeemable at par and accum. dlv. In July 1917 holders of both and same amount quar. to and incl. July 1914. None since.
common and pref. stock were given tho right to subscribe pro rata on or
EARNINGS.— For year ending Dec. 31:
before Aug. 15 1917 for the romalning *345.080 prof, stock at 8244 and
Gross
Net (.after
Preferred
Balance.
accrued divs. from July 1 1917. V. 105, p. 389.
Earnings.
Taxes).
Interest.
Dividends. Surplus.
Dividends.— Initial .dlv. on pref., 1)4% . paid July 15 1913: same rate Year—
1917...................*803.814
$159,625
$161,747
,i8,33udef.S10.452
quar. to and Incl. July 1916: In Oct. 1916 paid 1 (4% and V of 1% extra
4
264,314
165,739
33,32065.259
acct. o f accumulations. In Jan. 1917, 144% and 1% extra, paying up ail 1916.................. 749.863
1915.................. 638.667
200,650
172.039
33,3021,202
accumulations; since, 144% quarterly.
Latest Earnings.— For 12 mos. ending Juno 30 1918:
EARN ING S.— Of combined properties (Ken. Trac. & Term. Co. and
1917-18_____ $829,523
*183,472
*161,230
______
*22,242
Lex. Util. Co.) for years end. June 30 (1917 report in V. 105, p. 1894):
ROAD.—Operates from Lima through Waoakonota and St. Marys to
June 30,
Gross
Net
Other Sink.Fund, Bond
Balance,
Year—
Earnings. Earnings. Income. Taxes. Ac Interest. Surplus. Ceiina; from St. Marys to Minster, and from Wapakonota to Plqua; a total
1917-18. ..$1,021,448 *416,173 *45,180
*302,454—
*158,899 of 82.01 ra.: also Lima to Findlay. 31.97 in.; thus completing a through line
Total, 113.98 m., single track. Standard
Owns 18
1916-17.......... 912,540
432,275
39,289
46,462 218,034 207,068 to Toledo. cars. 7 freight motor cars and 66 freight and gauge. trail cars.
express
1915-16_____ 850.685
412.522
29.206
38.774 206.802 196.152 pass, motor
OFFICERS.— Pres.. F. D. Carpentor, Lima; V.-P.. E. F. Gould, Cleve.s
Passengers carried in 1916-17 , 6,544,807, against 6,369,840 in 1915-16
Sec. S Tress.. R. B. Cook. Clevo.— V. 194, p. 1450: V. 99, p. 895; V. 105.
c
and 6,084,710 In 1914-15.
p. 73; V. 106, p. 1128, 1797, 1902; V. 107, p. 83, 403.
OPERATIONS.— Constituent companies operate 96.7 miles of track
They do the electric-light and power, gas, street railway and Ice business of
Lexington. Also operate city lines In Frankfort and lines radiating from
Lexington to Georgetown, Paris, Nlcholasville, Versailles and from Frank
THE LINCOLN TRACTION CO.— A trolley road.
fort to Versailles.
ORGANIZATION. —
Is a
OFFICERS.— Pres., P. M . Chandler; V .-P ..F . W. Bacon; Sec.. W. J. dation of the old Lincoln Incorporated In Nobraska In 1909. V. 88, consoli
Traction aud the Citizens' Ry. Co.
D. 606.
Devine: Asst. Sec., II. T . Alley; Treas., H. Williams Jr.; Asst. Treas., Holders of the old Lincoln pref. stock (*700,000) recelvod 110 In the new
H. D. Brown Jr.— V. 104. p. 73; V. 105, p. 389, 1713, 1894; V. 106, p. 924 bonds. Holders of the old Lincoln com. ($330,000) received, tor every share
(1) K entucky T raction & Term inal Co.
of old. two shares of new pref. and four shares of new common. Holders
ORGAN IZATION .— Incorporated In Kentucky on May 18 1911 as a con- of Citizens' Ry. stock (#415,000) received 100% In new pref. and 80% In
■olidation o f the Lexington R y., Biuegrass Trac. Co. and Central Kentucky new common.
.
LIMA, OHIO.
LEXINGTON, KY.
LINCOLN, NEB.
ELECTRIC RAILWAYS
S e p t , iu 8j
Cancellation of Common Stock Ordered.— Tlio div. duo Fob. I 1918 on the
prof, stock remaining unpaid, several of tho holders of prof, stock brought
suit against tho company, its officers and several common stock share
holders, with tho result that tho Nebraska Ky. Oomm. in June 1918 ordered
that tho common stock issue (made at timo of consolidation with Citizens
Ky.) bo canceled and that .'$198,228 be replaced in the c o .’s treasury as divs.
wrongfully paid on tho common stock. Tho Oomm.’s order forbids paymont of any future com. div. It allows an additional pref. stock issue of
$281,200 to cover addns. and betterments, which may bo sold at 85, but
requires that $98,538 of tho proceeds bo turned back into tho fund for
maint. and doprec., from which it was taken for other purposes. Tho co.
has appealed to the Supremo Court. V. 100, p. 2757. On Jan. 3 1912
Nebraska Supremo Court affirmed tho decision of ttio lower court in quo
warranto proceedings by tho State, refusing to order tho cancellation of
$1,500,000 stock, claimed “ pure water.” V. 91, p. 912; seo also V.93,p. 1363.
Fares.— In Juno 1918 tho Nebraska Ry. Comm, denied tho c o .’s appli
cation for a straight 5-cent faro. V. 106, p. 2757.
8'fO C Il ANI) BONDS—
Date.
Interest. Outstanding.
Maturity
Common $2,000,000 ($100).................................... $1,652,000 D e c '16, 1%
Pref $1,500,000 ($100) 6% cu______
Q-F
1.149.400 Nov '17. 1H
1st mortgage $1,500,000 gold/ 1909
5 g J-J
1.250,000 Mar 11939
($1,000) ...............- -c&rtf ( Interest at New York Trust C o., trustee.
Old Lincoln Traction M g $ l,-j 1899
5 g J-J
250,000 Jan 1 1920
000) ($250,000)--------- c*tf I Interest at New York Trust C o., Trustee.
Bonds.— Remaining $250,000 new Lincoln Traction Co. bonds are reserved
for prior liens. Subj. to call after 1919 at 110.
Dividends.— l H % paid quar. on pref. from May 1 1909 to Nov. 1 1917
Inclusive. Feb. 1918 div. passed. On common, 2% paid Sept. 1912,
1% paid Mar. 15 1914 and 1% paid Sept. 1 1914. In 1915, 3% ; in 1916,
5% .
EARNINGS.— For cal. year 1917 and years ending Juno 30:
Year—
Cross.
Net.
Int., Taxi's Div.
Surplus.
1 9 17 .......
$980,039
$189,394
$217,550
def.$28,156
1916-17____________ 966,160
210,585
203,844
sur.6,741
1915-16___________ 929,576
277,570
194,679
sur. 82,891
R OAD.— Owns 54.59 miles o f track.
OFFICERS —Pres. V E. Sharp; V.-P. & Gen. Mgr.. J. M. Bramlette
V
Troas., S. II. Burnham; Sec., O. J. Shaw.— V. 106, p. 1461, 2757.
OMAHA LINCOLN & BEATRICE R Y .
Is to construct 56 miles between Lincoln and Omaha, of which 7 mllo*
from Lincoln to Bethany Heights Is completed and In operation. Of the
7 miles Just mentioned. If of a mile Is an extension Into the main busluess
centre of University Place. Standard gauge. 70-lb. T rail. Franchises,
99 years and perpetual. Stock auth., $2,250,000 ($100); outstanding,
$200,000. In Dec. 1916 the Nebraska RR. Comm. auth. tho co. to Issue
$2,000,000 common and $500,000 pref. stock and $2,500,000 bonds for the
completion of the line from Omaha to Lincoln, but not including the exten
sion to Beatrice.
EARNINGS.— For 12 mos. ending Dec. 31 1917, gross, $27,786; not
(after taxes), loss, $8,511. In 1916, gross, $25,577; net (after $3,020 taxes),
loss. $2,709.
OFFICERS.— Pres., Ilarvoy Musser; Sec., J. O. Musser; Treas. & Gen.
M gr., J. M . Bramlette; Aud.. O. J. Shaw. Office, 321 Terminal Bldg.,
Lincoln.— V. 103, p. 844; V. 104, p. 73.________
LITTLE ROCK, ARK.
LITTLE ROCK RAILW AY & ELECTRIC CO.
Amor. Cities Co. (see under New Orleans) owns 84.61% of com. and
80.20% of pref stocks.
ORGANIZATION .— Incorporated In Arkansas on March 17 1903 and is a
consolidation of the Little Rock Traction & Electric Co. and the Little
Rock Edison Electric Light & Power Co. Operates all street railways In
Little Rock and Pulaski Heights and all tho electric lighting and power
business in Little Rock, North Little Rock and Pulaski Heights. Railway
franchise extends to Sept. 28 1951; lighting franchise unlimited in timo.
In the latter part of 1912 acquired coutrul of tho Garland Power & De
velopment C o., which controls water powers ou Ouachita River, 45 miles
from Little Rock. Hydro-electric developments with a capacity of 28,000
h. P are contemplated
V. 95. p 1746
In Fob. 1916 Increased the com. stock from $1,500,000 to $2,000,000 to
acquire tho assets of the Merchants’ Lightiug Co., a controlling Interest In
the Central Heating & Mfg. Co. and provide for further acquisitions, exts..
&c. $411,700 of the now stock was sold at par: balance held In treasury.
In Jan. 1918 issued $600,000 2-ycar notos to provido for payment of
$400,000 notos, which matured Dec. 1917, for extensions and equipment,
and to provido for tho contract with the Government for light and power
at Camp Pike, about 10 miles from Little Rock. V. 106, p. 715.
STOCK AND BONDS— Dale.
Interest. Outstanding.
Maturity.
Common $2,000,000 ($100) ---------seml-ann $1,911,700 Juno "
"
*
'17,3%
Pref 6% cum $750,000 ($100)--------6 J-J
750,000 July '18, 3%
First mtgo $2,000,000 gold/ 1903
5 g A-O
_________ l_,_ _ 1933
1.880.000 Apr 1 ___
($1,000)--------------;--------c*/ Interest at Com. Gormanla Trust & Savings
I Bank, New Orleans, Trustee.
Refunding and extension mtg f 1908
6 g A-O
1.596,000 Apr 11938
$5,000,000 ($500 and $ l,-(In t. at Bank o f Commerce & Trust C o..
000) gold.- — - - - c*l Memphis,Trustee.
2-yoar notes, $600,000 ($100,/ 1918
6 g J-J
600,000 Jan 1 1920
$500 & $1,000) g--C *.tff--(Interstate Tr.&Bkg.Co.,New Orl.,La..trustee
Slock.— Pref. stock is redeemable at 110 aud accrued dividend. $88,300
common stock is held in treasury.
Bonds.— First mortgage bonds are subject to call on 60 days' notice on
any Interest period at 107 Vi. Sink, fund of 14 of 1% of outstanding bonds
1908 to 1917; 1% thereafter. On Jan. 28 1918, $120,000 were held In sk. fd.
The refund. & extension bonds cannot he called; $2,000,000 are reserved to
retire 1st 5s and remainder for 80% of cost of additional property If net
earns, for 12 mos. previous have boon twice the aunual int. charges on out
standing bonds. Inch thoseto he Issued. A sinking fund of 14 of 1% on out
standing bonds which began Aug. I 1913 Is to he Invested In these bonds at
not higher than a 414% basis, bonds to be kept alive in fund. On May 1
1918 $39,000 were held In sinking fund. The first $1,000,000 Issued as 6s;
rate on subsequent bonds to be at discretion of board of directors, but not
oxcooding 6% . Seo full particulars regarding bonds, property, &c., in
V. 87. p . 414.
„ ^
Notes.— Tho 2-yoar notes are callablo on 15 days notice, on any lilt, date
at 101 and int., prior to Jan. 1 1919 and at 10014 and Int. thereafter. No
now mortgage having a prior claim to these notes may bo created while
theso notes are outstanding without including said notes under tho lion of
tho mtge. A sinking fund of not less than $5,000 per month Is provided
for. Int. payable at offico of trustee on First National Bank, Now York.
Dividends.—On pref., 6% per annum paid up to and Including July 19l8.
On com., 1906, 2% ; 1907. 4% ; 1908,414%; 1909.8%; 1910,8%. In 1911.
20% . In 1912 to 1915. 10%. In Jan. 1916. 1%: July, 3% ; D ec.30.2% .
In Juno 1917, 3% ; Doc. 1917, none (V. 106, p. 396.)
EARNINGS.— For cal years.
Year—
Cross.
Net aft. Tax. Int., Ac.
Surplus.
1917...........................$1,125,603
$437,531
$214,054
$223,477
1916...........................
934,972
403,572
210,820
192,752
ROAD.— Operates 39 > miles of track, Including 12.10 miles of double
9
track. Ralls, 70-lb. and over. 26 open, 37 closed. 22 semi-convertible and
7 work cars; total, 92. Operates Forest Park, located about 6 miles from
the centre of the city.
OFFIOERS.— Pros., D. H. Cantrell; V.-P. A Treas., W, L. Hemingway
c
Gen. M gr., Ohas. J. Griffith; Sec. A
c^Vud., W. J. Tharp.— V. 107, p. 906.
LONG BRANCH, N. J.
MONMOUTH COUNTY ELECTRIC CO.
ORGANIZATION.— Incorporated April 1 1901 as a reorganization of
tho Atlantic Highlands Red Bank & Long Branch Electric Ry. In April
1903 was granted a 45-year franchise to operato In Long Braneh, in con
slderatlon of which the town Is to receive J4 of 1% of gross receipts.
Receivers— Default.— On April20 1916 Charles F.Soxton of Long Branch
and Wm. O. Boteler of Red Bank wore appointed receivers. Int. on bonds
has been In default for some time. The property Is advertised to be sold
at public auction.
STOCK AND BONDS—
Date. Interest,
Outstanding. Maturity.
Stock $500,000 ($50).............................................
$325,000 ..................
First mtgo $500,000 ($1001 1901
4 g J-J
500.000 Apr 1 1951
and $1,000) gold-----------c*(Int. at Hamilton Tr. C o., Brooklyn, Trustee
Other debts. Dec 31 1916___ _____
______ 153,417 __________
ROAD.— Operates In and between Red Bank and Long Branch and from
Red Bank to Oceanic. Total track, 17.71 miles.
EARNINGS.— For calendar year 1915, gross, $76,355; operating exps.,
&c., $87,494; repairs, $19,844; deficit, $30,983. V. 102, p. 2254.
61
LONG ISLAND CITY, N. Y.
THE LONG ISLAND CONSOLIDATED ELECTRICAL COS.
ORGANIZATION.— Entire stock is owned by the Loug Island RR. In
corporated in New York. Owns one-half thestock (the Interborough Rapid
Transit Co. owning the other half) and bonds of N. Y & L. 1. Trac. and
Long Island Elec. Ry.
STOCK AND BUNDS—
Date. Interest. Outstanding. Maturity.
Stock $25,000 ($100)________ All owned by Long Island R R .
Coll trust bouds $10,000,0001 1905 4/4 8
None
1945
gold, guaranteed______n tf/U . S. Mtge. & Trust C o., N. Y .. Trustee.
Bonds.— Are guaranteed, principal and Interest, by Long Island RR.
OFFICERS.— Pres., Ralph Peters: V.-P., C. L. Addison; S e c.F ra n k E .
Haff, N Y.: Treas.. J. F. Fahnestock, Philadelphia.— 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 one-half
the stock and bonds.
ORGANIZATION.— Chartered March 13 1897 as New York & North
Shore Ry. On Oct. 11 1899 was consolidated with the former Long island
Electric Ry., new company having 82,100,000 capital stock and $2,100,000
bonds. On May 7 1902 the lines north of Jamaica were sold under fore
closure to the Queens Ry. C o., which company was then merged In the
New York & Queens County Ry. On Aug. 28 1903 old name of “ Long
Island Electric R y." was resumed. In Aug. 1909 stock was reduced from
$2,100,000 to $600,000 by cancellation of $1,500,000 stock originally issued
to represent the piece of road which subsequently became the Queens R y,
and now forms part of the N . Y . & Queens County Ry. V. 89. p 42. 593.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
$600,000 ...............
Stock $600,000 ($100)...........................................
L I Elec 1st M $600,000/ 1895
5 g J-D
600,000 June 1 1925
($1.000)_________ c& r.ntf/H am ilton Trust C o., Brooklyn, Trustee.
I Interest paid by Treasurer, New York.
EARNINGS.— For year ending Dec. 31 1917. gross, $251,124; net, after
taxes, $21,280; other income, $213; interest, rentals, &c., $47,278; deficit,
$25,785. In 1916, gross, $245,166; net, after taxes, $7,900.
ROAD.— Comprises 25.23 miles of track on IB.30 miles of road from
Orescent Avenue, Brooklyn (at the terminus of the Kings County Elevated),
to Jamaica, Hollis and Queens, and from Jamaica to Far Rockaway. 36
passenger cars and Bothers.— V. 88. p. 101; V. 89. p 42. 593; V 102. p.1540
(2) New York & Long Island T ra ction .— A trolley road.
On June 20 1905 control was purchased jointly by the Interborough
Rapid Transit Co. and the Long Island Consol. Elec. Cos. V. 80. p. 2622.
ORGANIZATION.— This was formerly the Mineola Hempstead & Free
port Traction (lncorp. Feb. 27 1899), but name changed as above Sept. 22
1902, and stock Increased from $125,000 to $1,000,000.
Fare Decision.— On June 15 1912 P. S. Comm., 2d Dlst . decided that
company is not obliged under Its franchise to limit itself to a 5-cent fare
between Hempstead and Belmont Park. V. 94. p 1696
On Jan. 8 1918 the Court of Appeals sustained the decision of the Ap
pellate Division reversing that of County Judge James P. Nieman on June 22
1914, which held that the company;'under its franchise, could not charge
more than 10 cents for a 10-mile ride. (V. 99, p. 407.)
STOCK AND BON DS— Date.
Interest. Outstanding. Last Div.
Common. $750,000 ($50).....................................
$750,000 ...................
Prel 5% cum $250,000 ($50)...........________
250.000 No div. yet
First mtge $1,000,000 gold) 1902 4/4 8 M -N 1,000.000 Nov 1 1942
($1,000)_________ c& r.ntf'Interest paid by Treasurer. New York.
(Citizens’ Sav. & Tr. C o.. Cleveland, O..Trna,
Bonds.— Are subject to call at 107 on 30 days' notice, but no smiting tund.
EARNINGS.— For years ending Dec. 31:
Year—
Gross.
(Net (aft. Tax.) Oth. Inc. Int., Rent, Ac.
Deficit.
$69,657
$1,340
$71,578
$581
1917........ $470,199
1916........ 413,987
43,192
987
69,615
25.436
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 17.01 miles long from Freeport westerly
via Rockville Centre. Lynbrook and Valley Stream, to a connection with the
Kings County Elevated Ry. at Brooklyn. Also a line from Queens to
Mineola via Jericho Turnpike. 5.86 miles. Total. 36.29 miles
Total,
Including second track. 41.31 miles. 36 passenger and 8 other cars.
OFFICERS.— Pres., C. L. Addison, Penn. Sta., N. Y.; V.-P & Gen.
Mgr., V O Wood, Long Island City, N. Y .: Sec. & Treas., B
V
’rank E Haff,
Penn. RR. Station, N. Y .— V. 99, p. 407; V. 102, p. 1541; V. 107. p. 1101.
NEW YORK & QUEENS COUNTY R Y .
32.048 shares out of total issue of 32.350 is owned by the Interborough
Rapid Transit C o ., 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 Ity. C o., the Riker Ave. & Sanfords Point R R ., the
Steinway |{y., the Long Island City & Newtown Ry. and the Flushing &
College Point Ry. In May 1902 the Queens Ry. was consolidated with it.
and thereupon increased its stock from $2,500,000 to $5,000,000. The
Queens Ry. succeeded to the property sold at foreclosure of the New York
& North Shore Ry.. comprising a line of 6 miles from Flushing to Jamaica,
with franchises for lines between Flushing aud College Point, Flushing and
Bayside and Manhasset. V. 74, p. 1197.
The now Queensboro Bridge across Blackwell’s Island was opened in
1909. On Sept. 19 1909 the City of New York’s municipal trolley across
the bridge began operation. The round trip fare Is 5 cents. On Dec. 18
1909 New York & Queens County Ry. was granted a permanent franchise
to run cars over the bridge. Operation began on Feb. 5 1910. V. 90,
p. 373. Through passengers only are carried across the bridge and no extra
fare is charged.
Strike.—See New York Rys. on a subsequent page.
Fares.— In July 1918 applied to the Board of Estimate and Apportion
ment for increased fares. V. 107, p. 83.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity.
Stock $5,000,000 ($100).......................................
*3.235.000 ...................
Flushing & College Point 1st! 1895 5 g J-D
50,000
1925
mortgage $50,000 gold____/New York Trust C o., Trustee.
Newtown Ry first mortgage! 1894 5 g J-D
150.000 Dec 1 1924
$150,000 g o ld ___________ /New York Trust C o., Trustee.
Steinway Ry first mortgage! 1892 6 g J-J
1,500.000 July 1 1922
$1,500,000 ($1,000) g_ c*/In t. at Guaranty Tr. Co.. N. Y. City. Trus.
_
New York & Queens County/ 1896 4 g A-O
1.300.000 Oct 1 1946
first cousol mtg $3.000.000jMercantile Trust C o., New York. Trustee.
gold $1,000 each_________ ( Interest at office of company. New York.
First & refunding mtge. $10,-1 1906
4 g M-N
See text Nov 1 1936
000,000 gold ($1.000)__ cMWindsor Trust C o.. New York. Trustee.
Current liabilities Dec. 31 1 9 1 7 ____
_______
*4,795 623 ------------ * Includes $4,444 789 hills and accounts owing associated companies.
Of the new $10,000,000 mtge., $2,086,827 are deposited as collateral for
loans from Interborough Rapid Transit and $3,065,000 are reserved for
prior Hens. No sinking fund and bonds are not subject to call. Under the
N. Y . S Queens Co. 1st cons. M. there were originally $2,500,000 bonds out
c
standing, but the company having defaulted In payment of int., reorganiza
tion was made, under which the holders surrendered $1,200,000, Interest
was reduced to 4% . and the Mercantile Trust C o., N. Y .. was made the new
trustee. The said bonds are redeemable at 105 and lut. V. 69, p. 906.
ROAD.— The system, with the Queens Railway, embraces 70.62 miles of
trolley track, Including main line, 36.82 miles; second track, 31.95;sidings,
1.85. Rails 70 to 116 lbs., standard gauge; 228 pass, cars, 32 others.
REPORT.— For fiscal years ending June 30:
Year—
Cross.
Net.
Other Inc. Int.Taxes Ac Deficit.
1917-18.......................S947.659<fc/$192,9G3
$1,699
S357.124 $548,389
1916-17..................... 1.273.584 de/30.821
2,843
356,423
384.401
1915-16..................... 1,435,765
56.806
2,156
353,533
294,570
1914-15..................... 1.365.041
30.963
2.006
345.321
312,352
OFFICERS.— Pres., VV. O. Wood; V.-P., VV. L Pepperman; Sec., H.
M . Fisher; Treas., J. II. Campbell.— V. 107, p. 83, 906, 402.
MANHATTAN AND QUEENS TRACTION CORPORATION
Receiver.— On Nov. 15 1917 Arthur C. Hume and William R. Begg were
appointed receivers by Judge Cbatfield in the U. S. Dist. Court for the
Eastern Dlst. of N. Y. In Nov. 1917 a judgment against this company for
$1,158,532 was awarded the Gas & Elec. Securities Co. on account of unpaid
promissory notes.
.
ORGANIZATION.— lncorp. In N. Y . on Nov 4 1912 to take over the
rights and property of the South Shore Trac. Co. In New York City (see
under Patcnogue, and also under Manhattan & Jamaica R y. In V. 95. p.
1207. 420; V. 94, p. 1696.)
[Vo*,.
ELECTRIC RAILWAYS
63
107
Asked Public Service Comm, for permission to Issue $1,500,000 stock and ann,; 1926 to 1930. $75,000 per ann.; 1931 to 1914, $80,000 ann., and 1945
$1,500,000 1st M . 5% bonds, but on March 10 1914 the P. S. Comm, auth to 1946, $90,000 per ann. Of the $12,500,000 anth., $5,000,000 are re
orized only $765,000 capital stock and recommended the Issue of $807,000 served for prior Hess, Bonds are not callable.
bonds at 85. No stock outstanding; only $20,000 subscription stock.
Los Angeles Pacific Co. lxl Ref. Mtge.— Subject to call as a whole or in
Action on the bond issue was deferred until the company should have filed part on and after Jan. 1 1915 on any int. date at 105 and Int. on 3 months’
Its proposed mtge. for $10,000,000 with the consent of stockholders. V. 96. notice. Interest payable at company’s offico or agency in New York.
p. 790; V. 98, p. 523. In 1915 application was withdrawn.
Sinking fund of $5,000 per annum began in 1910. Guar., p. A I,, by South
Fare Decision.— On Sept. 10 1918 Judge Chatfiold In the Federal Court ern Pacific Co.
at Brooklyn, N. Y ., refused to recognize the receiver’s claim for a 7-cent
Riverside A Arlington Ry. lxl Mtge.— Not callablo. Sink, fund began
Sept. 5 1900 as follows: After payment of exps. and int. tho ontlro not In
fare. V. 107, p. 1101.
come and entire net proceeds from sale of property applicable under trust
EARNINGS.— For years ending Juno 30:
12 M os.—
Gross. Net,aft.Tax Oth.Inc. Rents. Interest. Sur.orDcf.
deed to be set aside each year to and incl. 1904: in 1905 and thereafter until
1917-18.........$262,930 $36,161 $1,724 $21,987 $92,733 def.$76,835 all bonds are paid. 75% of net Income and proceeds from sale of property.
Redlands St. Ry. 1st Mtge. 6% Bonds.— $50,000 are reserved for the
1,822 21,773
............. sur. 63,837
1916-17......... 328,102 83,788
ROAD.— Has a franchise In the City o f New York to operate a street previous Issue of 6% bonds. No sinking funds and bonds are not callable.
Redlands Central Ry. 1*< Mtoe.— Sinking fund began July l 1912 and retires
surface railroad over the Queensboro Bridge from the Manhattan terminal
thereof, along Thomson Ave., Hoffman Boulevard, and other streets and $1.000 per annum to July 1 1917, $2,000 next 5 years. $3,000 per annum fol
avenues in the Borough of Queens to the boundary line between the City lowing 6 years. $4,000 next 6 years and $5,000 following 5 yrs. Not callablo.
Los Angeles A Redondo lxf Mtge.— Sinking fund retires $10,000 per annum
of New York and the County of Nassau, together with the right to operate
upon the Queensboro Bridge. Tho lino has been completed and cars are in out of surplus and net earnings. Bonds aro not redeemable.
San Bernardino Valley Traction lxl Mtge. bonds are subject to call at 105.
operation to the Intersection o f Sutphln Road and Lambertvllle Ave. In
Queens. An additional 3.3 miles of road from this point to Central Ave. Int. payable at First Nat. Bank, Redlands, and at First Nat. Bank.
and Springfield Road was to have been completed by Aug. 23 1917, but Los Angeles.
San Bemadino Valley Trac. 1st A ref. Mtge. bonds are red. at 105. Sink,
owing to war conditions, an extension of time was granted by tho Board
of Estimato of N. Y . City. In June 1918 Judge Chatfield in tho U. S. fund retires at 105 and Int. 12 bonds during 1913-15 (incl.) during 1916 pays
Dist. Court for the Eastern Dist. granted a permanent injunction restrain off 13 bonds: during 1917 14 bonds: during 1918-27 pays off 25 bonds yrly.;
ing the city from forfeiting the contract o f the co. for failure to completo during 1928-30 37 bonds yrly.; 1931 and 1932 38 bonds each year.
Ontario A San Ant. Heights 1st Mtge. bonds are red. at 101 and Int.
Sink
this line. V. 106, p. 2450. Tho extension from tho L. I. RR. station at
Jamaica to Lambertvllle Ave. was completed April 26 1916. Total miles fund 1914 and following 4 years 1% of outstanding bonds. 2% thereafter.
EARNINGS.— For years ending Dec, 31:
single track equivalent, 21.
Cal.
Gross
Net (afterOther
Interest,
Balance,
OFFICERS.— Gen. M gr., B. Walter Duncan: V.-Ps., R. F. Carbutt and
Year—
Earnings.
Taxes). Income. Rents. Ac.
Deficit.
H. B. Weaver; Sec. A Treas., Lindley G. Coleman; Asst. Sec. & Asst.
1917____________ $9,267,130 $2,490,313 $65,730 $3,441,159 $885,116
Treas., F. H. Adler.— V. 106, p. 2450; V. 107. p. 906, 1101.
1916 _______
8,664.467 2,261,823 $52,567 $3^290.849 $982,459
1915...................
8,999.761 2,416.292
33.516 3.147,018
697,240
Latest Earnings.— For 6 mos. ending June 30 1918:
6m os. 1918___ $4,929,982 $1,088,256 $111,80-1 $1,772,878 $572,818
PACIFIC ELECTRIC RAILW AY.
All the stock except directors' shares Is controlled by Southern Pacific Co .
ROAD.—Operates an Interurban electric railway system centering at
ORGANIZATION.— Incorp. in California on Sept. I 1911 as a merger Los Angeles, extending Into the counties of Los Angelos, San Bernardino
Riverside and Orange and serves the cities of Pasadena, San Bernardino
of the following subsidiaries o f the Southern Pacific Co. (V. 93, p. 667):
Pacific Electric Ry.
ISan Bernardino Valley Traction Co. Riverside, Colton, Redlands, Pomona, Ontario, Santa Ana, Long Beach, Co
rona, Venice, Ocean Park, Santa Monica, Redondo, San Fernando. OwensLos Angeles Interurban R y.
IRedlands Central Ry.
mouth and Lankershim.
Total miles operated, single track. 1,076.59
Los Angelos A Redondo Ry.
.
San Bernardino Interurban Ry.
of which 612.39 miles main track, 313.89 miles second and other main track
Riverside A Arlington Ry.
|
Los Angeles Pacific Co.
During 1912 acquired the right o f way and all rail linos and equipment of and 135.51 miles of sidings and turnouts. Standard gauge. 46 electric
the Pacific Electric Land Co. and purchased the property o f tho Ontario locomotives, 1 steam locomotive. 717 motor cars and 1,171 non-motor
cars; 3 power stations. 44 sub-stations and 4 portable sub-stations.
A San Antonio Heights RR.
Operates under agreement over the Riverside Rialto A Pacific R R .— Power purchased from Southern California Edison Co.
OFFICERS.— Pres., Paul Shoup; Sec. A Aud., H. A. Culioden. Los
passenger service only.
Fare Increase.— In Sept. 1918 was auth. by tho Cal. RR. Comm, to in Angeles; Treas., I. VV. Heilman, San Francisco: Oon. M gr.. J. McMillan.
crease fares by 20% on suburban linos, tho new rates being based on a General offices, Pacific Electric Bldg., Los Angeles.— V. 101, p. 132; V.
102, p. 251; V. 103, p. 1687; V. 106. p. 2560, 2649; V. 107, p. 1101.
zone system. V. 107, p. 1101.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity.
LOS ANGELES RAILW AY CORPORATION.
Stock $100,000,000 ($100)------------------------$74,000,000
-----------The entire $20,000,000 stock, except directors’ qualifying shares, is
First ref mtge $100,000,0001 1911
5 M-S
32.189.000 Sept 1 1961
gold see text________ c * -tf (Int. at U. S. Mtge. A Tr. C o.. N. Y ., Trustee owned by Mr. H. E. Huntington.and, along with certain amounts of differ
Pac El Ry 1st mtge $10,000,-1 1902 5 g J-J
8,494.000 Jan 1 1942 ent bond issues of this company and the Pacific Electric Ry. (seo above). Is
000gold ($1,000)___ c .n t f /Int. at Union Trust C o., San Fran., Trustee. pledged as security for the Huntington Laud A Improvement collateral
Los Ang & Pas El Ry M $1,- 1898 5 g J-J
1,000,000 Jan 1 1928 trust Issue— see V. 98, p. 627.
The Los Angeles Ry. Company was organized Dec. 2 1913 to merge the
000,000 g guar ($1,000) c*U nt. at 111. Tr. A Sav. Bk., Chic., Trustee.
Los Angeles Ry. Corporation and its subsidiary, tho City Ry. Oo. of Los
Can be called at 105_ ntf l or at Chase Nat. Bank, Now York.
_
Ont A San Ant Heights 1st M l 1910
6 F-A
240,000 Feb 1 1935 Angeles (V. 97. p. 1753), but ou March 5 1915 the Cal. RR Comm, denied
$1,000,000 ($1,000) s f.n t f /ln t . at Southern Tr. C o.. Los Ang., Trustee. its application to Issue $20,000,000 stock In exchange for tbe $20,000,000
Pas & M t L 1st M $500,000 f 1900
4 g J-D
500.000 June 1 1930 stock of the Ry. Corp. and the $5,000,000 stock of the City Ry. and to
gold ($1,000)______c * -n tfl Int. at Union Trust C o.. San Fran.. Trustee. execute a mtge. under which $23,544,000 bonds were to be Issued in ex
Cal Pacific Ry 1st mtge gold) 1901
5 g J-J
480,000 July 1 1941 change for outstanding bonds of the two companies or bonds assumed by
them. V. 100, p. 901. 982. The Los Angeles Railway Corporation
($1,000) guar______ c .n t f {Int. at Co.'s office in N. Y . A Ohaso Nat.Bk.
Los Angeles-Pacific RR first) 1898
5 J-D
1,000,000 June 101928 was Incorporated in California on November 7 1910 as successor to Los
mort gold $1,000,000c*. ntf /Int. at Citiz. Tr. & S. Bk., Los Ang.,Trusteo. Angeles Railway and acquired all the city narrow-gauge lines owned
Los Ang-Pac RR 1st con mtge) 1901
5 A-O
1,490.000 Apr 1 1931 by Pacific Electric Railway and Los Angeles Interurban Railway, and
$1,500,000 g ($1,000).-n t f lint, at Crocker Nat. Bank. San Francisco. those portions of Los Angolos A Redondo Ry. and Callfornla-Paclfio
Los Ang Her B A Red 1st M l 1902
5 g M -N
500.000 May 1 1942 Ry. Co. lying north of an east-and-west line running through Hawthorne
and Athens, thus comprising all tho street railway business of Los Angoles.
$500,000 gold ($1,000).n tf/T itlo Ins. & Tr. C o., Los Ang.. Trustee.
Los Angeles-Pacific RR first! 1903
5 g M-S
3,451,000 Sept 1 1943 V. 91, p. 1386. More than 85 miles of track is on private right of way. All
and ref mtge $5,000,0001 Int. at Los Angeles Tr. A Sav.Bk., T r., or at main line and practically all down-town line franchises extend beyond 1940.
gold ($1,000) s f ___ c* _ n tfl U. 8 Mtge. & Trust Co., N. Y .. Co-Trus. Owns entire $5,000,000 stock of the City Ry. of Los Angeles, incorporated
Los Angeles Pacific Co gen f 1906
5 g J-J
5,784,000 Jan 2 1946 in Doc. 1910 to build new lines for the corporation. V. 91. p. 1766.
Favorable Decision.— In a decision handed down April 6 1915 the District
consol mtge $12,500.000( Int. at Union Trust C o.. San Fran., Trustee,
gold ($1,000) sinking fundi or at Farmers'* Merch. Nat. Bank, Los. Court of Appeals In Los Angeles sustained the right of the company to
c * .n t f( Angeles, or Ohwe Nat. Bank. New York. charge 10-cent fares from the city to Eagle Rock. Giassel and other points
Los Ang-Pac Co 1st ref mtge) 1910
4 g J-J
8,323,000 Jan 1 1950 in that district. See V. 100, p. 1438.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
$20,000,000 g ($1,000) c*tf/U nion Trust C o. o f San Fran.. Trustee.
Los Ang A Redondo 1st mtge! 1902
5 g J-J
500,000 Jan 15 1932 Stock $20.000.000............................ ............. $20,000,000 __________
$500,000g ($ l,0 0 0 )-c* .n tf(In t. at Union Trust C o.. San Fran., Trustee. Los Angeles Ry Corp 1st A ref) 1910
5 g J-D
14,850,000 Doc 1 1940
land R R . co's office, N . Y . City.
M $20,000,000 g ($1,000))Los Angeles Trust A Savings Bank, Trustee,
Riverside S Arlington 1st M ) 1899
c
4 F-A 14
200,000 Aug 14 1919
sinking fund___________ c*l
$200,000 g o ld ________ ntf Jlnt. at Union Trust C o.. San Fran., Trustee. Los Ang Ry M $5,000,000) 1899
5 g A-O
4.752.000 Oct 1 1938
gold ($1,000 each)_____c* jln t. at Union Trust Co.. San Fran., C a l., Tr.
San Bernard Vail Trac 1st M l 1901
5 A-O
250,000 Oct 1 1931
Los Angeles Trac 1st cous M ) 1898
5 g J-D
250.000 Dec 1 1938
gold $250.000_____ c * .n tf/T itle Ins. A Tr. C o., Los Ang., Trustee
gold $250,000 ($1.000)___ / St. Louis Union Tr C o., St. Louis. Trustee.
833,000 Sept 1 1933
San Bernardino Valley Tr 1st 1903
5 t M-S
5 F-A
4,190.000 Fob 1 1941
A ref mtge $1,000,000 gold Jlnt. at Los . mg. Tr. A S. Bk. of Cal..Trustee City Ry or Los Angeles 1st M ) 1911
$5,000,000 ($1,000) goid.c*/Int. at Los Ang. Tr. A S. Bk., Los A ., Trus.
sink fund ($l,000)c*&r.ntf
6 F-A
50,000 Aug 1 1919
Redlands St Ry 1st M g $50. 1899
Bonds.— Int. on 1st A ref. M . bonds Is payable at offico o f trustee.
000 ($1,000, Ac) redeem Title Ins. A Tr. Co., Los Ang., Trus
Bankers Trust C o.. New York, and by arrangement at Anglo A London
at par; no sink fu n d ., n tf „ Int. at First Nat. Bank. Redlands Cal.
Paris Nat. Ilk.. San Frau. Bonds are not subj. to call. Bonds have sk. fd.
5 M -8
100.000 Sept 1 1931 of $10,000 per month (Incl. s. f. on underlying bonds) to be invested in
Redlands St R y 1st M gold 1901
$150.000.........
ntf Title Ins. A Tr. Co., Los Aug., Trustee. first A ref. bonds at 105 and int. or less, or In approved securities; first
Int. at First N at. Bank, R edlands, Cal.
A ref. bonds purchased for s. f. to be kept alive, $802,000 bonds aro held
Redlands Central Ry 1st M 1907
__________
5 J-J
110,000 July 1 1937 in sink. fund. V. 92, p. 262; V. 94. p. l583: V. 95. p. 1273. On 30 days’
gold $500,000 ($1,0 0 0 ).n tf/ln t. at Los Ang. Tr.&S B.or Ca!.. Trustee. notice int. may be made payable at the National City Bank. N. Y. Int.
BONDS.— Pacific Elec. Ry. ts< ref. mtge. are to provide funds to retlro on the Los Angeles Trac. Issue paid at Chase Nat. Bank, New York. $52.
underlying bonds; also for acquisitions and for corporate purposes. Bonds to 000 Las Angeles Ry. M . bonds in sink. fd. and $248,000 canceled. City Ry.
bear Interest at such rate or rates as may be fixed at time o f issue by direc Co. of L. A. 1st M . bonds have a sink. fd. of 2% per annum of principal
tors, not exceeding, however, 5% per annum. The bonds are issued In amount of bonds which began Jan. 1 1916; $154,000 bonds In sink. fund.
series. Series “ A ” being the only series Issued. Denom. Series “ A ” $1,000
EARNINGS.— For years ending Dec. 31:
— other series, $1,000. $500 and 3100. Sinking fund $10,000 per year.
Fiscal Year— Gross.
Expenses.
Net.
Int. A Taxes. Surplus.
Series " A " Is subject to call from Sept. 1 1916 at 110 and Int. Othor series
1917 ..............$6,148,011 $4,063,218 $2,084,793 $1,548,594 $536,199
subject to call since Sept. 1 1916 at price to bo fixed by board of directors.
3,715,940
2,148.620
1,543,134 005,186
Pacific Elec. Ry. lsl Mtge.— A sufficient amount Is reserved to retire 1910 . ............ 5,861,501
6,137.963
3.954.537
2,183,424
1.556,209 627,215
prior Issues. Sinking fund Is $5,000 per annum, commencing Jan. 1 1915
1907, for 5 years; then $10,000 per annum to Jan. 1 1917; $15,000 per
PR OPERTY.— Comprises 390.984 milesof track: 60. 72. 87 and 116-lb.
annum to Jan. 1 1922; $20,000 per annum to Jan. 1 1927; $25,000 per rails. Owns and controls 875 passenger cars, of which 524 are of P-A-Y-E
annum to Jan. 1 1932: $30,000 per annum to Jan. 1 1937 and $35,000 annu type, 183 center and 168 mtsc. cars, and 104 work cars, Ac. Has favorable
ally thereafter, said sinking fund to be used in purchase of the bonds, but
ower contract with the Southern California Edison Co.; tho current being
fund may be Invested in other securities if bonds cannot be obtained at par.
istributed through tho corporation’s own transmission system, comprising
Los Angeles A Pasadena l*f Mtge.— Bonds bear the guaranty o f the Los 440.5 miles of lino and 10 sub-stations.
Angeles Ry. by end. Sink, fund of $10,500 per year out of notearns. from
OFFICERS.— Pres.. H. E. Huntington: V.-P. A Gen. M gr., Howard
Dec. 1 1908 to and incl. 1926: callable at 105 on any int. date.
Huntington; Sec. A Treas.. O. A. Henderson.— V. 97, p. 521, 1733; V. 98,
Pasadena A M t. Lowe bonds
p, 523; V. 100, p. 1348. 1438; V. 101, p. 370; V. 103, p, 320,
and Los Angeles A Pasadena E
gan 10 years from date of bonds
. . .
_
...
per ann. for second 5 years, $10,000 per ann. for next 5 years and $12,500
per annum for remaining 5 years. Red. at 104 and Interest.
LOUISVILLE R Y. CO.— ORGANIZATION.— Incorp. In Kentucky
California Pacific Ry. 1j< Mtge. Is for no stated authorized amount, but
la limited to $20,000 per mile of completed track. No sinking fund and on Jan. 22 1867 and owns all the street railways In the City of Loulsvillo
bonds cannot be called. Gnar. p. A 1. by Los Ang. Trac. Co.; seo V. 75, p.70. and its suburbs. Franchises are partly for 99 years from 1886 and partly
perpetual.
Title Insurance & Trust Co., Los Angeles, Trustee.
On Oct. 20 1917 the company filed amended articles of incorporation in
Los Angeles-Pacific RR. 1st Mtge.— Red. on any Int. date at 105 and Int.
Sinking fund began June 10 1908 until June 10 1926, $10,500 per year out creasing its auth. pref. stock from $2,500,000 to $3,600,000 and Its com.
of net income ouly. Int. also payablo at Illinois Tr. & Sav. Bank, Chic., stock from S5,500,000 to $8,500,000. in connection with tho dissolution of
the Louisville Traction Oo.
and Chase Nat. Bank, N . Y .
The Louisville A Interurban R R . has been organized in tho Interest o f
Los Angeles-Pacific RR. 1st Cons. Mtge.— Not callablo. Sinking fund
began April l 1911 and retires $10,500 annually (out o f net earns, only) to the Louisville Ry. to construct a system of urban and Interurban lines. No
and Incl. April 1 1929. Citizens’ Trust A Sav. Bank, Los Angeles, trustee. securities have been issued except $4,000,000 stock (Increased to that
Los Angeles Hermosa Beach A Red. Ry. lsl Mtge.— Int. payablo at Crocker amount in February 1913) to Louisville Ry. Oo. In Jan. 1911 Louis
Nat. Bank. San Fran. Sink, fund began May l 1913 and retires $10,500 ville A Interurban RR. acquired the Louisville A Eastern RR. (all of whose
bonds, construction notes, receivers’ certificates, A c., and about all the
per ann. (out o f not income only) to and incl. M ay 1 1942. Not callable.
lA)s Angeles-Pacific RR. 1*< A Ref. Mtge.— Sufficient bonds are reserved to stock, was owned by Louisville A Interurban), sold at foreclosure on Jan. 3
retire prior liens. A sinking fund began In 1908, to which 350,000 per ann, 1911. V. 92. p. 59. 282.
Dissolution o f Holding Co.— On Nov. 22 1917 the Louisville Traction C o.,
is payable first 5 years, $60,000 per ann. next 5 years, $70,000 per ann.
next fi years, $80,000 yearly following 5 years, $90,000 per ann. next 5 years. which owned all the stock of the Railway company, was dissolved in order
$100,000 yearly following 5 years and $150,000 per ann. thereafter. Not to reduce Federal aud State taxes. Preferred stockholders exchanged their
stock for Louisville Ry. pref. stock on a share-for-share basis; holders of
■abject to call.
Los Angeles Pacific Co. Gen. Consol, bonds have a sink, fund, 1911 to 1915, common stock received seven-tenths of Railway common for each share of
$10,000 per ann.; 1916 to 1920, $15,000 per ann.; 1921 to 1925, $40,000 Traction common.
LOS ANGELES, CAL.
S
LOUISVILLE, KY.
Sbp -*., 1918. J
ELECTRIC RAILWAYS
F a r e I n c r e a s e . — On July 1 1918 the Louisville & Interurban UU. increase*1
fares on all suburban lines to about 2 l cents per mile. V. 107, p. 402. 'l’h
A
Louisville R y. Co. has applied for auth. to charge higher faros in ordor tha
it may meet the men’s demands for higher wages. V. 107, p. 1101.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
Common $8.500,000------------ -------------$8,323,600 J’i y '18,1)4%
Prof 5% cum $3,500,000__________
A&O
3.500,000 Apr,T8,2)4%
Louisville Ry gon mtge gold! 1910
5 g F-A
4.035.000 Feb 1 1950
$20,000,000 ($1,000)-.c*tf/In tcrost payable in Louisville.
Louisville Ry cons M gold 1890
5 g J-J
6.000,000 July 1 1930
$6,000,000 (UstN Y )__c*tf Int. at National Bank of Commerce, N . Y .;
Fidellty-Col. Tr. Co., Louisville, Trustee.
Louisville R y 2d mtge,. . .
$2,- 1900 4)4 g M-S
.
2,000.000 Mar 1 1940
000,000 gold ($1,000)_ tf/Interest payable in Louisville.
_
3-year notos.................... ......... 1918
6%
650,000 1921
Bonds.— $8,000,000 of the gen. mtge. bonds of 1910 are reserved to retire
prior liens; the remainder is for extensions and improvements. Bonds are
not subject to call. Fidelity-Col. Trust C o., Louisville, trustee.
Dividends.— 5% is being paid on prof, stock. 4% was paid on the old
Traction common stock up to time of dissolution. Divs. o f 1H % each were
paid on Railway common in Jan., April and July 1918.
ROAD.— The Louisville Ry. Co. owns 175)4 miles of track on 77H miles
of street, with 13<4 miles outside city limits; all is electric. Affords entrance
Into Louisville for the Lou. & Nor. Ry. St Ltg. Co. and Lou. St Sou. Ind.
Trac. Co. The Louisville & Interurban operates 102 miles of track in Jef
ferson County, incl. extensions to La Orange and to Shelbyvilie in Oldham
and Shelby counties.
REPO RT.— For fiscal years ending Dec. 31;
Cal.
Gross
Net
Other
Int.& Pf.D iv. Common Balance.
Year. Revenue. Earnings. Income. Taxes. (5% ). Dividend. Surplus.
1917.$3,284,985 $1,547,820 $175,000 $950,206 $137,500 $534,091 $101,023
1916. 3,080.296 1,518.716 180,000 936,801 125.000 54&.650 91.265
1915. 2,940,501 1.414.770 180,000 922.144 125,000 545,650
1.978
From the surplus as above in 1917, $101,023, there was deducted $95,000
for depreciation, leaving $6,023. In 1916 $85,000 was deducted for depre
ciation, leaving $6,265.
OFFICERS.— Pros., T . J. Mlnary; V.-P., A. P. Humphrey; Sec. St
Troas., Samuel G. Boylo.— V. 105, p. 2184; V. 107, p. 402, 1101.
63
Now Albany Street Railway Co. for 25 years from Aug. 1
1903 (with privilege of renewal for 25 years) at a yearly rental of $500. the
la^charg8a and taxes and divs. of 4% on $100,000 preferred stock. V. 77,
P/
Sept. 1904 acquired the Highland RR. for $10,000 in bonds.
V.7 9 , p 1643. In Dec. 1905 acquired the Jeffersonville City R y. See
V. 81, p. 1792. Franchises are for 50 years; also permitted to carry freight.
Fares.— On June 20 1918 was auth. by the Ind. P. S. Comm, to charge a
streight 5-cent faro in Jeffersonville and New Albany and to increase the
fares between these cities from 5 to 10 cents, with commuters* tickets at
7 cents each. Has applied to the I.-S. C. Comm, for approval of these
increasas.
**
Freight Rates.— On M ay 9 1918 this company’s application for increased
freight rates was approved by the I.-S. C. Comm.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Common $2.000 .0< ($ 1 0 ) ....................................
)0
$2,000,000 ............... __
Pref 6% cum $1,000,000 ($10) - .........................
432 480 ...................
mortgage $1 000.000 ( 1903
5 g M-S15
999,000 Sept 15 1923
gold ($500 and $ l,0 0 0 )--c*/In t. at Amer. Trust <s Sav. Bank, Chicago.
S
...
l and U. S. Trust C o., Louisville, Trustees.
N r7i‘ onmny St RT *250,0001 1902
6 F-A
250.000 Aug 1 1927
($1,000) guar nrln and Int./In t. at U. S. Trust C o., Louisville, Trustee.
1«» M . bonds have no sk. fd., but are subj. to call after 10 yrs. at
105 & Int. See V. 77, p. 769, 2339. New Albany St. Ry. bonds are subj.
»° cal* on any Int. date at 105 & Int. and are guar. by United Gas & Elec,
w
r
1 P « ,ates 33 miles o f track, Including 10)4 miles leased from
°
Alb,au7 Street Ry. and also line between New Albany and Jefferson
ville, and city tinea ln Jeffersonville. An extension to Louisville was com
pleted in Sept. 1905. Has a contract with “ Big Four” RR. for the use
of its bridge over Ohio River and with Louisville Railway C o., allowing its
cars to enter Louisville. Has erected an interurban terminal on Third St..
Louisville. Girder rails. 90 lbs.; T and girder rails. 75 and 77)4 lbs.
OFFICERS.— Same as for Louisv. & Nor. R y. S Ltg.C o.— V.106.P.2757.
c
McALESTER, OKLA.
CHOCTAW POWER & LIGH T CO.
. O R GAN IZATION .— Incorp. In Delaware on June 27 1916 to take over
the light and power business of the Choctaw Ry. & Lighting Co. sold at
foreclosure (V. 102, p. 1539) and owns all the $445,000 1st M . bonds and
the entire $600,000 capital stock of the Pittsburgh County R y., incorp. ln
Oklahoma Juno 24 1916, to take over the street railway properties.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $1.000,000.--.....................
.................$1,000,000 . .
Pref 7% cum $250,000.......................
M-S
250,000 SeptT8.3i2%
First mtge gold ($1,000 and\ 1916
5 g M-S
1,063.000 Sept 1 1941
$ 5 0 0 ).. ................ -_c*tf]In t. at Guaranty Tr. Co. o f N. Y ., trustee.
— Open Issue authorized. Impt. fund o f 1% per annum from
m i r l9 2 5 :lH % 1926-1929; 1H % 1930-1933; 1M % 1931-1937; 2% 1938-41.
3>4% each on pref. in March and Sept. 1918
EARNINGS.— Combined earnings of the Choctaw Power & Lt. Co. and
the Pittsburg County Ry. Co. for year ending Dec. 31 1917, gross, $294,761;
net, ]$106j384;^ other income, $2,845; deprec., $29,486; charges, $48,494;
INDIANAPOLIS & LOUISVILLE TRACTION R Y .— A trolley road
ORGANIZATION.—dneorp. in March 1912 In Indiana as success >r to
the Indianapolis & Louisville Traction Co., sold at foreclosure on March 21
1912. V. 94, p. 911. Franchises In cities and towns are for 50 years from
1905; remainder is on private right of way.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common stock $600,000................................ .....
$596,200 . .
Preferred stock $600.000......................................
576,750 _
.........
First mortgage $1,500,000 gl 1912
5 g A-O
836,600 April 1 1942
($100, $500 & $1,000)-c * tf/ln t. at Colonial Trust C o., Plttsb. Trustee
Bonds.— Of remaining 1st M . bonds $650,200 are for irnpts. and oxtens
at 80% ofcost. Subj. to call on any int. date at 105 and Int. Sink, fund of
2% per annum began Oct. I 1917, increasing 1 % each year to and including
April l 1921, then reduced to 1% per annum thereafter.
ROAD.— The Pittsburg County R y. operates In cities o f McAIester and
EARNINGS.— For year ending Dec. 31 1917. gross, $185,964; net. after Hartshome, and an Interurban line, over private right of way, between the
taxos, $84,360. In 1916, gross, $148,411; net, after taxes, $56,538.
two cities. 23.26 m. o f track. Standard gauge: rail, 66-70-lb. T . 16
ROAD.—40.9 miles o f track from Sellersburg to Seymour. Cars run passenger cars, 11 other cars, 1 electric locomotive.
from Sellersburg to Louisville over tracks o f Louisville & Northern Ry &
OFFICERS.— Pres., C. N. Mason, N. Y.; V .-P., J. A. Trawick, Boston;
Ltg. Co. and from Seymour to Indianapolis ovor the tracks of the Ind Col
Sec .-Troas., S. M . Bachman, N. Y .; Gen. M gr., J. C. Chestnut. N. Y .
& South. (Interstate Public Service Oorp.). Through cars from Louisville to office, 71 Broadway.— V. 103, p. 940.
Indianapolis wore put into operation in 1908. Standard gauge; 75-lb T rails
OFFICERS.— Pres. & Gen. M gr., John E. Greeley, Scottsburg Ind
V .-P ., Mark Storen, Scottsburg, Ind.; Sec., Nathan G. Eyster, Pitts^
burgh, Pa.; Treas., Jas. O. Chaplin, Pittsburgh, Pa.— V . 100, p. 733.
GEOROIA LIGH T. POWER & RAILW AYS. (See map on page 64).—
ORGANIZA1 ION.— Is a voluntary association formed under Massa
LOUISVILLE & NORTHERN RAILW AY & LIQ H TIN Q .
chusetts laws ln Sept. 1911. Has acquired all the com. stock of Macon Ry.
* L'ktR Co.- .practically all the com. S pref. stocks of Macon Gas C o.,
c
Interests Identified with the Middle West Utilities Co. are in control
ORGANIZATION.— Incorporated under the general railroad laws of $3,660,000 (of the $4,000,0001 stock of the Central Georgia Power Co. and
Indiana in Doc. 19Q5. $916,900 of the $1,000,000 stock of the United the entire capital Btock of the Central Georgia Transmission Co. Also
Gas & Electric Co. and $232,950 stock o f the New Albany Water-Works owns $2,003,194 6% securities o f Its constituent companies Issued for
Co. aro deposited under this company’s mtge. Has purchased the electrical new construction, &c.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
equipment of the Kentucky & Indiana Bridge Co. and leases the bridge
V
for 25 years, thus affording Independent ontrance into Louisville Com Common $8,000,000 ($100).......................................$7,660,000
Q-J
500.000 Oct ’ 18. U i
pany does electric lighting and express and freight business in addition to Pref $2,000,000 6% n-c ($ 1 0 0 )-----First lien sk fd. $6,500,000/ 1911
6 M-S
3.489,000 Sept 1 1941
passenger businoss. Road is mainly on prlvato right o f way.
gold ($1.000)--------- c * A r.. INuw York Trust C o.. New York, Trustee.
Rates.— On M ay 18 1918 this company’s application for increased freight
Conv dobs $1,000,000 gold 1917
6 F-A
See text Feb. 1 1920
rates was approved by the Inter-State Comm. Comm.
Demand notes....................................
.................
641,150 .
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock and Bonds.— Pref. shares are callable at 110 and are pref. as to prin'.
Common $3,600.000.......................................... .
$3,499,000
Pref $1,600,000 Series A & B . -----Q-J
916,900
S e e t e r t " and dividend; aro listed on Pittsburgh Stock Exchange. Common stock
First mortgage $2,500,000 gf 1905
5 g J-D
500,000 Dec 1 1926 is listed on the Pittsburgh, Chicago and London stock exchanges. The
remaining $2,583,000 first Hen bonds are reserved under careful restrictions
($500 and $1.006)...........c* Int at American Tr. & Sav. iLankTchlcago
for acquisitions of other securities and for extensions and Impts. Bonds are
l Trustee, or at Eliot Nat. Bank boston
sofured by deposit of all the securities owned by Ga. Lt., P. & Rys. $291 000
Bonds.— Unissued bonds can only be issued for 80% or cost or DroDertv
built or acqulrod. Are subject to call at 106 and Int. V. 82 n H(\R° 17 (not incl. in amount reported outstanding) are held in the treasury and
STOCK.— The Series A pref. stock Is 6% cum., the Series B is’ cum’ and $137,000 have been retired by sinking fund. Red. at 105 & int. on any
notice. Prin. & int.
office of A. B.
Is entitled to 2% In 1906. 3% In 1907. 4% In 1908. 6% in 1909 and «'% in int. date on 30 ,days’ or Bank o f Scotland, payable at Annual sinking Leach
London.
fund.
1910 and thereafter.
" ana 0 / b ln & Co., Inc., N Y .,
Dividends.— Dividends from July 1 1906 on both classes o f pref stock $50,000 1916 to 1920. $75,000 1921 to 1925. and $100,000 1926 to 19401
were paid at rates called for up to April 1909, when % % was paid on both V. 93, p. 1532. Bonds are listed on Chicago, Pittsburgh and London stock
exchanges. $705,000 debentures have been issued, of which $35,000 are
classes; same amount quarterly since to July 1918.
ROAD.— Operates 20 miles of track, Louisville to Sellersburg with a line outstanding. The remaining $670,000 are deposited as collateral to de
notee
branching off at Wateon and running to Charlestown. At 'Soilershunt mand stock. of the company. The debentures of 1917 are convertible into
connects with Ind. St Louisv. Trac. Ry. C o., running to Seymour where pref.
Dividends.— Quarterly divs. of 1H % on pref. stock were paid from Jan. 1
connection Is made with the Ind. Col. S So. (Interstate Public Servlo’a Co )
c
thus forming a through line betweon Louisville and Indianapolis
The 1913 to Jan. 1 1915, Incl.; none to Oct. 1917, when regular quar. divs. of
line from Louisville to Charlestown will form part of a through line between 1 >i% were resumed.
REPORT.— For year ending Dec. 31 1917: Interest and divs., $300,550;
Louisville and Cincinnati. .Standard gauge. 70-lb. T rai/.
loss Inti charges, salaries and expenses and
OFFICERS.— Pros., Chester P. Wilson, Indianapolis; V -P
liarrv stock, $7,500; surplus, *63,235. In 1916. taxes, $229,816; divs. on pref.
interest and divs., $249,619;
Reid, Louisvillo, Ky.; Sec., Ira E. Guthrie, Indianapolis; Treas J F
Stratton, Now Albany, Ind.— V. 82, p. 509, 886; V. 94, p. 1626’ V lf>6 n’ total deductions, $201,705; surplus, $47,914. The combined results of the
company and its subsidiaries, with inter-company items eliminated, were:
1689,1901.
’
Calendar
Gross
Net {after
Pref.Divs., Balance,
Year—
Earnings.
Taxes).
Interest.
Sk.Fd.,Ac.
Surplus.
(1) United Gas & E lectric Co.
1917.......... .$1,093,412
$544,515
$426,801
$58,777
$58,937
ORGANIZATION.— Incorporated In Indiana In 1902 and acquired the 1916
950.855
487,361
399,571
46,687
41 103
New Albany Gaslight S Coke Co., New Albany Light, Heat St Power Co
t
PROPE R
companies operates
electric
Jeffersonville Electric Light, Heating, Gas S Coke Co. and Joffersonvilie railway and TY.— Through controlledfurnishes electric light entirepower in
t
gas business in Macon;
and
Light & Water Co. Does ontlre gas and electric-lighting business In Now Macon. Monticello, Forsyth, Barnesvllle, Griffin, Jackson, Jonesboro
Albany and Jeffersonville, and supplies also Port Fulton, Silver Grove and Bibb, Thomaston and Hampton, Ga.; also sells a large amount of electricity
Clarkvlllo. Franchises. 45 years fn New Albany and 50 years in JeffersonAtlanta.
fj«
vlllo from 1902; in othor towns from 20 to 40 years. Guarantees the in OFFICERS.— Pres., Geo. A. Toby: V .-P ., J. D. Everitt: Sec. & Treas®
$250,000 first mortgage bonds of Now Albany Street Ry. Co
Lasher; Asst.
Sc Asst. Treas.. W E. Fulcher.— V. 104. o. 1382
Rale Increases.— In April 1918 the Kentucky P. U. Comm, auth the co F. B.V. 105, p. 290; Sec. 106, p. 1124, 1577.. 2445, 2450.
V.
'
to Increase gas rates at the Jefferson plant from $1 to $1 20 net ’ An in 1400;
(1) Macon Railway & Light Co.
crease or 15% in Now Albany was also granted. These rates aro to remain
Entire common stock is owned by Georgia L t.. Power S Rys.
c
In effect for the duration of the war. V. 106, p. 1692.
ORGANIZATION.—
Oct.
by the
STOCK AN D BONDS—
Date.
Interest.
Outstanding. Maturity Railways S Light Co. ofIncorporateda In Georgia on of the 23 1902Consoli
c
America as consolidation
Macon
Stock $1,000,000 ($100)........................................
$1,000,0$
c
S South
c
First mtge $750,000 ($1,000) ( 1902
6 g J -J
648,000 " S e e'tex t" dated Street R y., the Macon Electric Light S R y ., the North ordinance
Macon Street
Street
The city
gold...................................cGInterest at American Trust & Savings Bank. permitting the Ry. and the MetropolitanSept, lfl Ry
consolidation, passed on
1902. granted a 50-year
I Chic., Trus., and at Eliot Nat Bk Bos
franchise. For terms, see V. 75. p. 733.
First consolidated mortgage! 1004
6 g J-J
738,000 See text ’
Control of the Georgia Public Serv. Oorp. (incorp. in Ga. ln May 1912)
$1,500,000 gold ($500 and( Interest at American Trust St Savlniw Bank
was acquired ln Oct. 1913 by interests friendly to the Macon Ry. & Lt Co
$1,000)........... .............__c*l Chic., Trus., or at Eliot Nat Bk Boston
and Central Georgia Pow. Co. V. 97, p. 1286.
Bonds— $648,000 first consols are reserved to retire a like amount of
Tn June 1914 Georgia RR. Commission sanctioned the issue of $700,000
first 6s; and $114,000 have boon retired. Both issues mature serially from additional common stock, making the total $1,600,000.
1907 to 1942, but tlm bonds of 1902 may bo called at 105 and Int • the new
Fare Increase.— On July 31 1918 the City Council passed an ordinance
consols are callable after July 1 1924 at 105 and int. See V. 79 p 2458
allowing tho company to charge a 6-cent faro until one year after the war
*Year end. June 30—
1916-17. 1915-16. 1914-15. 1913-14. 1912-13 when tho 5-cent rate will again take effect. V. 107, p. 906.
Gross earnings.................... $404,393 $334,033 $331,595 $334,730 $317 625
STOCK AND BONDS— Date.
Interest.
Operating oxp. and taxos.. 283,890 218,363 230.304 221,579 2021361 Common $1,600,000 ($100)..................................... Outstanding. Maturity.
$900,000
W
Pref $300,000 ($100) 6% cum...........
6 A-O
300 000
See'text.
Net earnings....................$120,503 $115,670 $101,291 $113,151 $115,264 Macon Ry A Lt 1st cons mtge/ 1903
5 g J-J
959.000 Jan 11953
Intorest.&c.......................... 87,682
84,648 80,859
76.728 73^54
g $1,000,000 ($1,000) .c * tn ln t . at Equitable T r. C o., N. Y ., Trustee.
Macou Elec L t * Ry 1st m tge/ 1899
6 g J-J
42.500 Jan 1 1929
$32,821
$31,022 $20,432 $36,423 $41,809
Balance...........
$100,000 ($500) gold .c n f ll n t . at Equitable Tr. C o.. N. Y .. Trustee.
* I Iscal year has been changed to end on Dec. 31.
Bonds.— Macon R y. & Lt. 1st consols are subject to call on any interest
O F F IC E R S — Pres., Harry Reid, Louisville, Ky.; V.-P., Jas. W . Dun- date at 110 and Int. $41,000 bonds. $12,300 com. and $16,400 pref. stock
are held by Savannah Trust Co. to retire the $42,500 Macon Elec. Lt. &
-V .
" s t M ? '• L " 5 & ; 1 . '5 5 m .” j - f - 8 ,m t o n - N™
Ry. bonds remaining out. See V. 76, p. 212.
<
Dividends.— 6% per annum has boon paid s.-a. on pref.. 1903 to April
(a) Loul»vllle& S outhern Indiana T ra ction Co.
1918, Inclusive.
ORGANIZATION.— Incorp. In Indiana under the General Railroad
ROAD.— Owns and
about
Laws ln 1903, and Is successor to the Southern Indiana Interurban Railway been re-laid with 70-lb.operates56 care.30.26 mllee of track, all of which has
rails.
MACON, GA.
64
ELECTRIC RAILWAYS
Sept ., 1i)18,
65
ELECTRIC RAILWAYS
EARNINGS.— For years ending: Dec. 31:
Year ending
Gross
Net (after
Interest on Pref.D iv. Balance,
Dec. 31'—
Earninos.
Taxes).
Bonds, &c.
(6 % ).
Surplus.
$202,8S2
$102,043
$17,016 $83,823
1917.................... $559,053
1 9 1 6 .-.............
496,717
108,244
98,411
17,016
52,817
O F F IC E R S— Pros.. Wm, H. Felton: V .-l\, P. G. Gosslor: Sec., It.
Frank Jones; Treas. & Aud., J. J. Thames Jr.— V. 101, p. 694; V.107,p.906.
(2) M a con G a s C o.
ORGAN IZATION .— Incorp. In Ga. In 1852. Was formerly Macon Gas
Lt. & Water C o., but In Oct. 1911 transferred Its water plant to the city,
and changed name to present title. Controls entire gas business o f Macon
Practically all the $475,500 com. and $20,000 pref. stock Is owned by Ga.
Lt., Power S Rys. Company has no bonds.
c
EARNINGS.— For years ending Dec. 31:
Dec. 31
Gross
Net (after
Interest
Preferred
Balance
Years—
Earnings.
Taxes).
on Notes.
Dies.
Surplus.
$51,455
$15,810
1917............ --.$168,745
$1,000
$34,645
1916__________ 134,615
42,781
12,635
1,000
29,146
Has 3 gas holders and over 54 miles o f mains, &c. Output now exceeds
38,000.000 cu. ft. per annum.— V. 93, p. 942, 1537: V. 99, p. 1455.
(3) C en tra l G e o r g ia P ow er C o .
Georgia Lt., Power & Rys. owns $3,660,000 stock.
ORGANIZATION.— Incorp. In Ga. on March 4 1907 as Bibb Pow. C o.
and In Jan. 1908 changed name to present title. Began oper. June 1 1911.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $4.000,000........................................ ................$4,000,000 ____________
Mtge $3,000,000 g ($1,000,1 1908
5 M -N
2,856,400 May 1 1938
$500 S $100, or 4iequlv-f Empire Trust C o., New York, Trustee,
c
alent) ...................... c*&r*_]
Bonds.— Int. on bonds Is payablo at offlco o f A. B. Leach & C o., Inc.,
N. Y ., or Bank o f Scotland, London. Subject to call at 105 and int. for
sinking fund or any or all at company’s option on any int. day. Sinking
fund of 1% of bonds out began in 1913. V. 88. p. 1199. $143,600 bonds
in sinking fund.
EARNINGS.— For 12 mos. ending Dec. 31:
Year—
Gross.
Net, aft. Tax. Bd. Int., &c.
Surplus.
$455,158
$296,446
$218,826.
$77,620
1917 .................................
1916------------ --------------406,636
278,750
213,664
65,086
PROPERTY.— Owns hydro-electric plant with a capacity of 24,000
electric horse powor on Ocmulgee River, near Jackson. Transmission
lines oxtend to Macon, Forsyth, Jackson, Bibb, Barnesvlllo, Thomaston
and Griffin, connecting at the last-named point with tho line of the Central
Georgia Transmission Co. (whoso ontire capital stock and bonds aro owned
by Ga. Lt., Power & ltys.), running to Hampton, Jonesboro, Monticollo and
Atlanta. Total longth of transmission lines (Incl. Cent. Ga. Trans. C o.).
137 miles.— V. 93, p. 1536, 1670.
MADISON, IND.
M ADISON L IG H T & R A IL W A Y C O .
ORGANIZATION.— Incorp. in Indiana July 25 1896.
Operates 4
miles of street railway In Madison and supplies light and power to Madison,
North Madison. Hanover, Kent, and rural district. Franchises expire 1952.
Operation to Be Discontinued.—-In Aug. 1918 it was reported that tho co.
expected to discontinue electric railway operations within a few months.
V. 107, p. 802.
STOCK AND BONDS.
Date.
Interest. Outstanding. Maturity.
Stock, $150,000......................................................... $150,000
_____ _____
First mtgo $150,000 gold\ 1912
6 J-J
146,000 July 1 1942
($1,000) ...........................t f I Pittsburgh. Pa.. Tr. C o., Trustee
Remaining bonds are reserved for add'ns and lmpts. at 90% of cost.
Sinking fund of $1,000 per annum from July 1 1917 to 1922 and $2,000 an
nually thereafter, callable at 1 0 2 and Int.
EARNINGS.—
Gross
Net
Insur. *
Bond
Balance,
Year ending—
Earnings. Earnings.
Taxes.
Interest.
Surplus.
Dec. 31 1917............$59,475
$14,889
$1,925
$8,820
$4,144
Dec. 31 19 16.......... 59,111
20,275
1.619
7,740
10 916
D oc.31 1915............. 53.538
16,483
1.323
6.840
8.320
OFFICERS.— Pres.. Treas. S Gen. M gr.. M . F. Tennis: V.-P., Ohas.
c
O. Tonnis; Sec. & Aud., M . Robinson.— V. 98, p. 1767; V. 107, p. 802.
MADISON, WIS.
M ADISON R A IL W A Y S C O M P A N Y .
ORGAN IZATION .— Successor in May 1916 to the Southern Wisconsin
R y., for statement o f which see this 8ection for May 1916. Franchises
expire in 1932, 1938 and 1944.
STOCK A N D BONDS—
Date.
Interest. Outstanding.
Maturity
Stock $600,000 ($100)...........................................
$350,000 ...................
1st mtge $1,500,000 g ($500/ 1916
5 g M -N
852,000 May 1 193#
and $1,000)________ c * .tflln t . at Wisconsin Tr. C o., Mllw., trustee.
3-yoar notes ($200,000) gold) 1916
6 g M -N
200,000 May 1 1919
) and $1,000)______ c*(Int. in Chic. Wise. Tr. C o., M llw., trustee.
s.— Additional bonds may be Issued for extensions, additions, &c.,
for 80% o f cost under conservative restrictions. Red. at 102 >4 and Int. on
any Int. date on 60 days' notice. A sinking and Improvement fund o f 1\i %
er annum o f bonds outstanding begins May 1 1919 for redemption of
onds or Improvements, &c. The notes are redeemable at par and Int.
on any Int. date on 30 days’ notice. The following payments are required
to be made Into an Improvement fund for the redemption o f notes or for
Improvements, &c.: May 1 1916, $15,000; Nov. 1 1916 and M ay 1 1917,
$12,600: Nov. 1 1917 and May 1 1918. $16,000, and N ov. 1 1918 and
May 1 1919. $17,500. $70,000 has been paid into fund.
.
EARNINGS.— For year ending Dec. 31 1917, gross, $296,550; not, after
taxos, $96,972. In 1916. gross, $300,051: not, after taxes. $104,665.
ROAD.— Owns 17 miles of standard-gaugo track, including lines In Madi
son, and extension to Fair Oaks, Elmside, Lake Park Cemetery and South
Madison.
OFFICERS.— Pres., F. W . Montgomery; V .-P ., Dudley Montgomery;
Sec. S Treaa., Warren Montgomery; Supt., D . Montgomery.— V. 103. p.
c
820.
________ __
a
K
MANCHESTER, N. H.
M A N C H E S TE R T R A C T IO N , L IG H T & P O W E R C O .
to secure convertible notes. Additional bonds may be issued for re
funding and for acquisitions, under guarded restrictions, but not in excess
of twice the par value of outstanding stock. Sinking fund o f 1% of bonds
outstanding on each Aug. 1 beginning 1919, to be applied to purchase of
bonds at not to exceed 105 and int. Bonds purchased to be held alive.
Call at 105 and int. V. 105. p. 909.
Notes.— The coll. tr. conv. notes are convertible or, if called for redemp
tion, up to 10 days prior to redemption date, into an equal amount of 1st
ref. 5% bonds at a valuation of 9244 and int. Are secured by $1,600,000
1st ref. M . bonds. Subject to call, all or in multiples of $100,00O, at 101
and int. on 30 days’ notice. V. 105, p. 2543; V. 106, p. 86.
PROPERTIES.— The different roads controlled comprise 65.595 miles
of track, as follows: Manchester Street Railway, 42.842 miles; Man
chester Sc Nashua Street R y.. 14.335 miles; Manchester S Derry St. R y..
c
8.418 miles. 107 passenger and 18 mlsc. cars. 4 hydro-electric plants
present capacity approx. 11,500 h. p.; 2 steam reserve stations at Man
chester with a combined capacity of approx. 10,900 h.p. and 1 steam reserve
station at Nashua with capacity of approx. 2,000 h.p. Also owns water
rights along the Merrimac River.
Dividends.— First dividend of 3% on July 15 1901; paid 6% per annum
to and including 1905; 7% In 1906; since 8% per annum. 5% extra
dividend in 1911-12.
REPORT.— Of the Manchester Trac., Lt. & Power Co. and subsidiary
companies for years ending Dec. 31:
Year end.
Gross
Net (after
Interest, Bond Sink- Balance for
Dec. 31. Earnings.
Taxes).
tfee.
ing Fund.
Divs.,& c.
1917.........- $1,590,655
$625,605
$187,455
--------$438,150
1916 ____ 1,486,885
642,903
144,199
$2,250
496,454
OFFICERS.— Pres., E. C. Foster; V .-P. & Gen. M gr., J. Brodie Smith
Treas., P. L. Saltonstall; Asst. Treasurers, Robert llaydock and Lester
E. Flint; Clerk, Edwin F. Jones.— V. 105, p. 909, 998, 1802, 2184, 2543:
V. 106, p. 86, 396, 929.
MARION, ILL.
COAL BELT ELECTRIC R Y.
In 1904 passed into control of the St. Louis Iron M tn. Sc Sou. R y. Co.
Stock authorized and outstanding, $300,000; par of shares, $100.
EARNINGS.— For year ending Doc. 31 1917, gross. $105,003; net,
$23,943; taxes, &c., $2,228; interest, $21,210; surplus, $505.
ROAD.— Operates 15.33 miles of track from Marion to Oarterville and
Herrin. Standard gauge. 52 to 70-lb. T rail.
OFFIOER8.— Pres., J. G. Drew; V.-P., A. Robertson; Gen. M gr..
J. F. Murphy; Sec., F. W. Irland; Treas.. F. M . Hickman; Gen. Aud..
J. G. Llvergood. St. Louis; Supt., H. H. Berry. Illmo. M o.
m a r io n T o h io .
COLUMBUS MARION & BUCYRUS R Y.
ORGANIZATION.— Incorporated in Ohio in May 1913 as a reorganiza
tion of the Columbus Marlon Sc Bucyrus HR., sold under foreclosure per
plan V. 96. p. 1488, 1839.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock. $350.000.......................................................
$360,000 ...................
First mtge, $100.000...........t f 1914
6% g
42,000
1934
G enA R efM . $350,000. gold tf 1914 See text.
250.000
1944
Bonds.— The 1st M . 6s are red. at 102H and Int. on any int. day.
Remaining $58,000 la held by trustee pending construction of power-house.
The interest on the gen. S ref. mtge. bonds Is 3% for the 1st and 2d
c
years, 4% 3d and 4th years and 5% thereafter. $100,000 reserved to
retire 1st M . bonds. V. 96, p. 1488. 1839.
EARNINGS.— For cal. year 1917, gross, $39,667; net, after taxes,
$8,566. In 1916, gross, $36,808; net, after taxes, $8,168.
OFFICERS.— Pres., Geo. Whysall; V.-P. * Treas., Jas. H. Caldwell.
T roy. N . Y .; Sec. S Asst. Treas., R. O. Oswald.— V. 99. p. 196, 637.
c
MARION & SUBURBAN RAI LWAY CO.
Receivership.— Int. due Oct. 1 1909 Is In default. In Feb. 1910 Geo. W hy.
sail was appointed receiver. Suit has been brought against the directors
for an accounting of the proceeds of bonds. The hoarlng was begun before
U. S. District Judge Hollister at Cincinnati on Oct. 19 1914. V. 99, p. 1528.
ORGANIZATION.— Incorporated In Ohio Sept. 25 1906 to build the
necessary extensions of trackage to the local Marlon City lines demanded
by the City of Marlon. 1H miles completed; none In operation; no work is
being done.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock, $250,000..................................
.............
$250,000 ................. ..
First mortgage. $250,000.7 1906
5 g A-O
250.000
1936
gold ($600)_______________(Interest at Cincinnati Trust C o., 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.
Oatrow; Sec., H. B. Hane.— V. 99. p. 1528.
MATTOON, ILL.
CENTRAL ILLINOIS PUBLIC SERVICE CO.
Controlled by Middle West Utilities C o., which see In our “ Railway S
c
Industrial” Section.
ORGANIZATION.— Incorp. In Illinois In 1902 as the Mattoon City Ry.
and on Aug. 25 1910 changed its name to the above. V. 91, p. 655. up
to August 1 1912 did an electric light, power and heat business in
Mattoon and an electric light and power business In Charleston and Kansas.
111., besides operating street railways In Mattoon and Charleston and an
Interurban railway between those two points. Since Aug. 1 1912 has ac
quired numerous additional public service properties and now serves 138
communities with an estimated served population o f 325,000. The 138
communities are served with electricity, 7 with gas, 11 with water, 10
with ice, 8 with heating and 5 with street railway service; also operates -the
electric interurban lino between Mattoon and Charleston, 111.
Acquisition.— On Feb. 28 1918 purchased all the outstanding capital
stock of the Southern Illinois Ry. & Power Co. V. 106, p. 2227.
In N ov. 1913 Increased auth. capital stock from $6,000,000 ($3,500,000
com. and $2,500,000 pref.) to $10,000,000 ($5,000,000 each). V. 97. p.
1583. In July 1916 auth. stock was further Increased to $7,500,000 pref.
and $7,500,000 common. V. 103. p. 406.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $7,500,000 ($100)......................................$6,000,000 .....................
Prof 6% cum $7,500,000($100)-----Q-J
3,810,500 Ju ly ’18.1K
First and refunding mortgage/ 1912 5 F-A
10.888,000 Aug 11952
gold ($1.000)...............c*tf (Interest payable In Chicago.
General mortgage gold_______ 1917
6 g J-D
320,000 Dec 1 1952
Underlying bonds (closed Issues)_
_
_________
758,000 __________
Debentures.................................... .
...............
110,000
1923
Collateral gold notes________ / 1018
7 g M-S
300,000 Mar 1 1921
l 1918
7 g J-D
150,000 June 1 1921
Stock. — Prof, stock is red. at 110 and dlv.
Has full voting power. Taxexempt In Illinois. Registrar, III. Trust & Savings Bank. Chicago.
Bonds.— The first and ref. bonds are red. at 105 on any Interest date.
Additional bonds may bo Issued under certain restrictions. See V. 95, p.
1744. For security of bonds, see V. 103, p. 1887. Cont. Sc Comm. Trust
S Sav. Bank, Chicago, trustee.
c
Dividends.— 6% is being paid on preferred stock.
EARNINGS.— For calendar years:
Years end.
Gross
Net after
Other
Interest Pref. Divs. Balance,
Dec. 31. Earnings.
Taxes.
Income. A c., digs.
(6% )
Surplus.
1917 ------$2,448,050 $871,658 $26,338 $615,496 $194,418 $88,081
1916_____ 2.169,648
8-19,093 30,060
552.053
193,500 133,600
PROPERTY, .See.—The co. operates over 923 miles o f hlgh-tensloa trans
mission lines, 7 central stations, holds 10 stations In reserve and has con
tracts for power from 4 other central stations. Total available capacity.
60.000 h. p.
OFFICERS.— Chairman of the Board, Samuel Insull; Pres., Marshall
E. Sampsell; V.-P., G. W. Hamilton; Sec. and Treas.. O. E. Cripe.—
V. 105, p. 910; V. 106, p. 497, 931, 1036, 2227.
ORGANIZATION.— Incorporated In 1901 In New Hampshire and com
prises the several light, power and street railway properties In and around
Manchester and tho light, power and gas proporty In Nashua. Tho com
pany owns the stock of tho Manchester St. Ry.. Manchostor & Nashua St.
R y. (name changed from Goffs Falls Litchfiold & Hudson St. Ry. in Fob.
1907) and Manchester & Derry St. Ry. In Jan. 1918 purchased tho wator
rights of tho U. S. Bobbin S Shuttlo Co.
c
Franchises perpetual. Interurban roads and main transmission lines
on private right of way, except through cities and towns
On Oct. 9 1916 tho P. s . Comm, o f Now Hnmp. auth. tho Manchester S
c
Nashua St. R y. to increase Its fares from 5 to 7 cents, effective Oct. 16
1916, but recommended the retention of existing rates for school children
and tho sale o f commutation tickets on a 6-cent faro basts.
Stockholders o f record Aug. 22 1917 were given the right to subscribe
for $184,000 stock pro rata at par, making $3,864,000 outstanding. Pro
ceeds wore for retirement o f floating debt, new construction and lmpts., &c.
V. 105. p. 2184.
In Doc. 1017 Issued $1,360,000 6% coll, trust notes to refund $1,000,000
5% notes duo Juno 1 1918, and to provide for certain important construc
tion and water power developments already noarly completed.
STOCK—
Date.
Interest. Outstanding. Maturity.
Stock $5,000,000 (1100).....................
Q-J 15
$3,864,000 July’ 18, 2%
- . consol - — (closed) $2.- 1901
A-O
914,000 April 1 1921
1st ------- . mtge
0 0 0 ,0 0 0 gold ($l,000)c*ntf Interest at American Trust C o., Boston, Tr.
Manchester S Nashua 1st 1900 5 g J-D
c
200,000 June l 1926
M gold $300,000 ($1,000) tf Int. at American Tr. C o., Boston, Trustee.
Man S Derry St Ry 1st mtgo I 1907
c
5 J-D
125,000 Dec 11927
$ 5 0 0 ,0 0 0 ($1,000) g u a r..tf Int. at American Tr. C o., Boston, Trustee.
First Ref M Sink Fund g $15,-1 1 9 1 7
___________ „
.
5 g F-A
1,642,000 Aug 11952
0 0 0 .0 0 0 ($1,000 c*; $5,000 r/Int. at American Trust C o., Boston, trustee.
Convertible notes$1,500,000/ 1918
6 g J-J
1,360,000 Jan. 11920
CARBON TRANSIT CO.— A trolley road.
($500 & $1,000) gold----- c*(Tnt. at American Trust Co., Boston, Trustee
ORGANIZATION.— Incorporated In July 1908 In Pennsylvania as a re
Bonds.— Tho Manchester & Nashua St. Ry. and tho Manchester S Dorry organization of the Carbon Street Ry. sold at foreclosure sale M ay 16 1903.
c
St. Ry. bonds aro guaranteed, prin. & int., by Man. Trac., Lt. & Pow. Co. i Property Is being Improved by reconstruction, new equipment, Sec., InBoth mortgages are closed.
.
| eluding the development of Flagstaff Park on Flagstaff Mouutaln, which la
The first rof. mtge. sinking fund bonds wero issued to rotiro floating debt 850 feet above and overlooks the picturesque Mauch Chunk.
and provide for now construction, &c. After April 1921 will become a first 1
Fare Increase.— In April 1918 was auth. to increase fares from 5 to 7
mtgo. on all property now owned. $1,600,000 aro deposited as collateral cents, new schedule to remain in effect during the war and 18 os.thereafter.
MAUCH CHUNK, PA.
(Vol . 107
ELECTRIC RAILWAYS
66
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock 5150,000 (550).........................
...
5150.000
1st mtge 5150.000 (5100 and( 1908
5 g F-A
loO.OOO Aug 1 1938
5500) gold.....................c*tfl Int. at Mauch Chunk Trust C o., Mauch
I Chunk, Pa., trustee.
8 econd mtge $100,000 gold/ 1910
5 g J-D
40.100 June 1 1940
(5100 and $500)______c* tflln t. at Mauch Chunk Trust C o., Trustee.
Bonds.— First intge. bonds may be called at 105 and lnt. on any Int. day.
Second mtge. bonds are red. In any amount on any lnt. day at 105.
EARNINGS.— For years ending Dec. 31:
„
„
,
Year—
Gross.
Net.
Charges ATaxes.
Surplus.
1910........................ 552,871
$18,640
$12,850
$5,790
15.557
12,548
3.009
1916........................ 55.276
1914........................ 05.347
20.835
11.753
9.082
1913....................... 51.637
17.481
10.798^
,
6.684
Note.— Earnings for 1915 and part of 1916 were affected by unfavorable
weather conditions and Insufficient power during changes and enlargement,
of power system to utilize the large banka of cheap fuel owned by the co.
ROAD.— Comprises 12>4 miles of track; 24 cars. Owns about 425 acres
of valuable real estato. Including 75 acres on "Flagstaff Heights."
OFFICERS.— Pros.. Wm. Dods: V .-P.. C . H. Lotta: Sec. & M gr.. J. F.
Golser, Mauch Chunk; Treas., Geo. H. Mayer.— V. 106, p. 1688.
MEMPHIS, TENN.
MEMPHIS STREET RAILWAY CO.
American Cities Co. (see under Now Orleans) owns 8 6 % common and
8 8 % preferred stock.
ORGANIZATION.— Chartered in Tennessee on March 28 1895 and con
solidated with the Citizens’ St., East End St.. City ft Suburban aud Mem
phis & Raleigh Springs lines; franchiser -un until Nov. 1945. The Supreme
Court has confirmed the c o .’s franchises in all respects, including the right
to chargo 5-cent faro. (Compare V. 85, p. 654; V. 100, p. 1752.) Owns
and operates the entlro street railway business of the city. incl. suburbs of
Binghamton, Raleigh Springs and South Memphis aud a line to Bake
In Mar. 1913 purchased the property (excluding the building owned In
Memphis and the car barns) o f the Lakeview Trac. Co. (sold at foreclosure
In Sept. 1912) for $160,000 payment to be made in 20-year Lakeview
Traction bonds bearing 2% int. for 2 years, 3% for 3 years, 4% for 8 years
and 5% for the last 7 years. V. 96, p. 863.
City Ordinance Not Yet Enforced.— On Mar. 13 1914 Chancellor Fentress
granted an Injunction restraining the city from enforcing a vexatious and
unreasonable ordinance which was to have become effective Mar. 14 1914
For details of the ordinance see V. 98, p. 912.
Strike Settlement—Agreement.— See V. 103, p. 060.
Fares.— In Mar. 1918 applied to tho Board o f City (Commissioners for
auth. to increase fares from 5 to 6 cents. V. 106, p. 1126.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common $2,500,000 ($100).......................................$2,500,000
See text
Preferred $2,500,000 5% cumf
„
(5100) redat 1 1 0 & a c c r d iv s f............................... 2,500,000 June’ 17, 2H
Cons mortgage $10,000,000/ 1905 5 g J-J
8.324.000 July 11945
gold (see text) closed.c*& rlint, at Central Trust C o., N. Y .. Trustee.
Gen mtge $30,000,000 gold/ 1915 6 g M-N
See text Nov 11935
($100 S $ l,0 0 0 )..c * ___ tf\Guaranty Trust C o., N . Y ., Trustee.
c
2-year collateral gold notes/ 1917
6 g M-N
1,250,000 N or 1 1919
($1,000) .....................c*cpt\Int. at N. Y. Trust Co., N. Y.. Trustee.
One-year notes______________1917
6%
260.000 N ov. 1 1918
Equipment trust____________ 1914
6%
84,000
To 1924
Bonds.— Tho consol. M . bonds are in donom. of $1,000 coupon aud $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. See V. 82. p. 628, 1496. $260,000 held alive In sinking fund;
remaining $1,410,000 deposited as socurity for coll, gold notes. Mortgage
closed. $512,000 gen. M . bonds are deposited as coll, for 2-year notes.
During life of notes total Issue of gen. M . bonds cannot exceed $650,000 ex
cept with consent of two-thirds of collateral noteholders. Of the unissued
general mortgage bonds, $9,822,000 are reserved to retire the consol, mtge.
bonds and remaining $19,666,000 are for add'ns, exts., A c., under certain
restrictions. Red. at 10214 and Int. on any Int. date. V. 101, p. 1886.
The 2 -year coll, notes due Nov. I 1919 wero Issued to provide funds for the
payment of SI,500,000 notes due Nov. 1 1917. They are callable in
whole on 30 days’ notice at 100J4 and int. Secured by $1,416,000 consol,
mtge 5s and 3512,000 6 s.
Dividends.— On pref. stock 5% was paid from Issuance up to and Including
Dec. 1914. In 1915, none. In 1916. Doc.. 234 %• In 1917. June. 214%.
None since. On common, first div.— 1%— paid June 1912. In 1913.
March, 1%; Dec., 1%. In 1914. June, 14%; Dec.. 214%; none since.
R E P O R T . — F o r y e a r e n d in g D e c . 3 1 :
MILFORD, MASS.
MILFORD & UXBRIDGE STREET R Y .— Trolley.
ORGANIZATION.— Incorporated In Massacnusetts in 1901. On July
10 1902 consolidated by purchase of entire capital stock with tho Milford
Holllston & Framingham St. Ry.
Operates the Grafton S Upton R R .
c
(V. 104, p. 73. 163) from Milford to North Orafton, 15.37 miles, and the
Medway S Dedham St. R y.. 21 miles.
c
Fare Increases.— In Aug. 1917 the P. S. Comm. auth. an increase in fare
from 5 to 6 cents, with morning and evening workmen’s tickets at 2 0 for $ 1 .
In Sept. 1918 was again auth. by the Comm, to increase fares, this time by
dividing the road into zones, each about l mile long, tho rate of fare being
2j4 cents per zone with a 6 -cent minimum charge. V. 107, p. 1101.
STOCK AND BONDS—
Date.
Interest. Outstanding
Maturity.
Stock com $440,000 ($100)...............
A-O
$140,000
Sec text.
J-J
100.000
See text.
Preferred $100,000 ($100)_________
M . Holl. S Frara. 1st mtge./ 1898 7 g J-J
c
165,000 Jan 1 1923
$165,000 ($1,000) g ..c * n t flln t . at Amer. Trust Co.. Boston. Trustee.
Milford & Uxb gold bonds/ 1902 7 g J-J
335,000 Jan l 1923
($1,000) gold______ c*ntf\Int. at Amer. Trust C o.. Boston. Trustee
Tho above bonds were originally 5s and fell due Jan. 1 1918, but were
extended to Jan. 1 1923 at 7% .
. .
„
Dividends.— On pref.. In 1910, H % ; in 1911. 5% : In 1912 and since, 0%
1901
por annum. .On common. In -------- to -1903, 6 %; ------- 1J4%; -1907. 3% ;
_ _ ___ ------. _____ „
____ t f ' 1904, ■
- 1915 5>4%; thereafter to Oct.
’ - ’
1908. 1%: 1909, 3% ; 1910 and 1911, 4% ; —
1916, 5% per annum. None since
EARNINGS.— For fiscal years:
Year
Gross Net (after Deduc Pf.Div. Com.Div. Balance
(6 % ).
(5 % ).
Surplus.
tions.
ending—
Earnings.
Taxes).
'
...........
$12,034
Dec. 31 1917-..$315,091 $48,951 $30,917 $6,000
6.000
22,000
811
29,722
58,533
Dec. 31 1 9 1 6 ... 278,828
29,924
6,000
22.000
102
June 30 1 9 1 6 ... 272,318
58,026
ROAD.— Owns 36 miles of track, from’ so. Framingham to Uxbridge and
from Milford to Medway and Ilopkinton. Also operates tho Orafton ft
Upton R R .. from Milford to North Grafton, 15.37 miles, and the Medway ft
Dedham St. R y., 21 miles. Also controls Lake Nlpmuc Park. 60 pas
senger cars. 13 snow plows and 4 miscell.; 134 electric motors.
OFFICERS.— Pres., D. E. Manson, Boston, Mass.; V .-P ., & Sec.,
Wendell Williams, Milford, Mass.; Treas., J. E. Walker, Milford; Supt..
W. L. Adams, Milford, Mass.— V. 105, p. 2456; V. 107, p. 1101.
MILLVILLE, N. J.
MILLVILLE TRACTION.— A trolley road.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $175,008_______ ______ _____
_____
$175,000 ....... ...........
1st mortgage $400,000 gold! 1894
5 g F-A
208.000 Aug 1 1914
($1,000 each)__________ c * /ln t. at Land Title & Trust C o., Ptaila., Trus.
Bonds.— Not subject to call.
E A R N IN G S — For year 1917, gross, $61,262; net, $4,138. In 1916,
gross, $59,110; def. from oper., $489.
ROAD.— Operates 0.47 miles of track in Millville. 0.536 miles in Vineland
and 5.541 miles In Township of Landis: total, 12.547 miles.
OFFICERS.— Pres., George Wood; V.-Pres.. It. D. Wood; See,., O n .
Thomas; Treas., Daniel C. Lewis.
MILTON, PA.
LEWISBURO MILTON & WATSONTOWN PASS. R Y .— Trolley
ORGANIZATION.— Chartered Sept. 3 1897. In 1910 Whittaker &
Diehl of Harrisburg purchased control from the Railways Company General.
Under contract with Penn. R R ., the Lewisb. Mil. S Watsont. Pass. Ry.
c
agreed to install storage-battery cars on some 11 miles of track between
Montandon and Mifflinbtirg. and to operate a lino in conjunction with
steam use of that section of road, connecting with present trolley lino at
East Lewlsbnrg
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $150,000........ .............................................
$150,000 ...................
First mortgage $300,000 gold 1 1910
5 g F-A
175.000 Fob 1 1940
($500)_________________ c * /ln t. at Land Title S Tr. C o., Phlia., Trustee.
c
Bonds.— Remaining bonds can only be issued for Improvements and ex
tensions at 80% o f cost. Sub. to call as a whole on any lot. date after
Feb. 1920 at par.
EARNINGS.— For 12 months end. Doc. 31 1917, gross, $60,352: not,
after taxes, $8,820. In 1916,Tgross. $63,089; net, after taxos, $18,034.
ROAD.— 10 miles of track between points named In title. 12 overheadoperation cars. 2 storage battery cars run from Montandon to Mlfflinburg.
OFFICERS.— Pres., John F. Whittaker; V.-P., L. O. Brown; Sec. ft
Treas., D . L. Diehl; Asst. Sec. S Treas., W . B. Rankin.— V. 90. p. 1303.
c
MILWAUKEE, WIS.
T H E W IS C O N S IN EDISON C O .. INC.
ORGANIZATION.— Incorp. In N. Y. on N ov. 7 19X2 to take over tho
North American C o.’s holdings in Milwaukee and othor Wisconsin public
1917____________ $2,130,116
$807,754
$532,556
$275,198 utilities. Owns or controls, through stock ownership, the following cos.:
1916...................... 2,086,468
869,535
547,819
321,715 Milwaukee Light, Heat ft Trac. Co.lN orth Milwaukee Light & Power Co.
1915____________ 1.684.109
037,049
553,839
83,210 Milwaukee Elec. Ry. & Light Co.
i Wells Power Co.
ROAD.— Owns 140.8 miles of track
Rails, 60 to 80-lb. T to 107-lb. Wisconsin Gas A Elec. Co.
girder. 328 passenger and 27 miscellaneous cars
On Apr. 29 1914 the company filed a certificate of Increase of capital
OFFICERS,— Pres. & Gen. Mgr.. Thos. II. Tiltwiler; V .-P ., L. E
stock from 300.000 to 400.000 shares, to provide for conversion of tho con
Wright, Sec. & Troas., W . II. Burroughs; Aud., L. I.e M ay.— V. 103, p. vertible bonds.
6 6 6 ; V. 105, p. 1802, 2184, 2365; V. 106, p. 1126; V. 107, p. 501.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock 400.000 shares (no par
_______
215,000sb.
See text
value)____________ _____ _______
Debens $10,000,000 ($1,000.
CHICAGO LAKE SHORE & SOUTH BEND R Y.
$500 and $100)......... . c * t f 1914
0 K M -N
6,500,000 May 1 1924
Debentures convertible Into stock at $80 per share to May 1 1923: red.
ORGANIZATION.— Organized in Indiana December 1901.
No securities in hands of public. All owned by syndicate, which has at 102 on 60 days' notice. V. 98. p. 1128.
Dividends.— A div. of $1 75 was paid Juno 1 1914: In Dec. 1914 also paid
used them as collateral only.
In June 1918 was auth. by the Ind. P. S. Comm, to issue $28,000 bonds $1 75. In 1915, June. $1 75: Dec., $1. In 1910. June. $1 75: Dec., $1 75
and 75c. extra. In 1917, Apr., $1: July, 50c.; Dec., $1 50. None sinco.
to reimburso the treasury for betterments. V. 106, p. 2755.
REPORT.— For cal. years (combined properties)
STOCK AND BONDS—
Date. Interest.Outstanding
Maturity..
Calendar
Operating
Net (after Non-Op.
Interest
Balance.
Common $5,000,000 (3100)________
_________ $5,000,000 .....................
Years—
Revenues. Tuxes. A c.). Revenue. Charges
Surplus.
Prer $1,000,000 ($100) 6 % n - c .......
. ....................1.000.000 ....................
1917............ $11,962,520 S3,016.006 $151,886 $1,575,568 $1,592,324
1st mtge $6,000,000 ($1,000)/ 1907 5 F-A 15
4.357.000 Aug 15 1947 1916
10,176.072
2,940,660 111.753
1.332,825
1.719,588
gold____________________
Interest at Cleveland Trust C o., Trustee.
1915 ................. 8.605.380
2.604.049
51.415
1,301.406
1.294.058
Equipment bonds, gold ($1,-1 1908 0 M -N
50.000 Past due
Income Account of Wisconsin Edison Co.
u w i...................... ............. c/In t. at Cleveland Trust C o.. Trustee.
Calendar
Divs.&Int. Exp..Int.A
Net
Divi- Balance.
Bonds.— Remaining bonds are reserved for future extensions aud Im
Year—
Received.
Taxes.
Income.
dends. Surplus.
provements. They are subject to call at 10234 at any lnt. period. Sink, 1 9 1 7 . . . ......................$1,446,411 $017,376 $829,035 .$045,0001184.035
fund of $50,000 per annum began Aug. 15 1917 for 10 years, then 2% of 1916 ............................. 1.430.882 459.202
971,620
913,750 57,870
bonds outstanding until maturity.
1915 _____
1.058.390 457.681
600.715
591,2509.465
EARN INGS.— For year end. Dec. 31 1917, gross. $649,311: net. after
OFFICERS.— Pres., Jas. D. Mortimer; V.-P., II. H. Picrco and Edwin
taxes, $86,680. In 1916, gross, 8551,468; net, after taxes, $164,216.
Gruhl; Sec., James F. Fogarty; Treas., Geo. R. Sheldon; Asst. Sec., Uobt.
ROAD.— Operates a total of 7 0 . 8 0 miles betweeu South Bend and Chi Randall; Asst. Treas., Robt. Scaly and Ferdinand Sherwood.— V. 104, p
cago; 0.7 miles Hammond to Pullman, owned by Illinois Central HR., 2123; V. 105, p. 1809; V. 106. p. 603. 614, 1236, 2158.
is leased to Chicago Lake Shore & South Bend. 70-lb. T-rall.
(1) Mi lwa uke e Li gh t, Hea t & T r a c t i o n Co .
OFFICERS.— Chairman, F. Ft. Goff; Pres, and Ocn. M gr.. O. N . WilThe capital stock Is practically all owned by tho Wisconsin Edison Co.
coxen; Vice-Pres.. S. H. Tolies: Sec. & Treas. U. R. Alexander.— V. 8 6
ORGANIZATION.— Incorp. iu Wis. on Dec. 14 1896. Does an extensive
p. 51. 167. 420, 1528; V. 98, p. 386; V. 106, p. 2755.
street and intorurban railway and elec, light and power business, serving Mil
waukee, South Milwaukee, Cudahy. Racine. Kenosha, Wauwatosa. North
Milwaukee, Whlteflsh Bay. Fox Point, West Allis. Waukesha, Powaukeo,
Hartland. Oconomowoc, Watertown, St. Martins. Muskogo Lakes, MukW ALLKILL TRAN SIT CO.
i
and Burlington.
ORGANIZATION.— Incorporated In New York on March 30 1905 as wonago. East Troy, Waterford, Rochester the Milwaukee Elec. Ry. S Lt.
During 1916 tho Wisconsin Edison Co. aud
c
■uccessor, under foreclosure, to the MIddietown-Goshen Electric Ry and Co. roturned to the co. $6,189,000 of its Ref. & Ext. M. bonds and $9.
the Middletown-BIoomsburg Elec. R y. See V. 80. p. 1059, 1425. Com 000,000 of its capital stock held by those companies, in exchange for $9.
pany was placed in hands of receiver Oct. 1908 on account of a judgment for 000,000 common stock of tho Milw. Elec. Ry. S Lt. Co. owned by the
Injuries obtained by a motorman, but all indebtedness having been paid off. Light, Heat & Traction Co. (Comparo V. 8 6 , p. c286.) The Ref. & Ext.
receiver was discharged April 23 1909.
bonds returned were canceled and the mortgage satisfied of record, and the
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
capital stock rotained in tho treasury of tho co. It is planned to convoy
$350,000 ...............
a large part of the property now owned by the co. to the Milw. Elec. Ry. S
c
Stock $350,000 ($50)...............- ...............................
1st intgo $350,000 gold ($100.7 1905
5 g M-N
300,000 May 1 1935 Light Co., the remaining property to go to tho Wisconsin Gas S Elec. Co.
c
$500 and $1,000)_____c*tf(In t. at Coiu’w’lthTr.Co..Harrisburg, Trust
Application to purchase tho properties of tho co. was made by tho Milw.
Bonds.— $50,000 reserved for future improvements. Are subject to call El. Ry. & Lt. Co. in Feb. 1918— see that co. below.
after 10 years at 105.
Valuation.— See Milwaukee Electric Ry. & Lt. Co. below.
EARN INGS.— For year ending Dec. 31 1917, gross, $69,398; net, after
Fare Increase.—See Milw. Elec. Uy.& Lt. Co. below.
taxes, $10,319; net corporate deficit, $5,21 i. For year ending Juno 30
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
1917, gross, $69,398; net, after taxes, $10,319; net corp. deficit, $5,211. Common stock $30,000,000.- ___
_______
$1,000,000 __________
ROAl).— Operates 12.84 miles of track extending from Mlddlecown, Milw Lt H & Tr Co 1st M gl 1899
5 g M-N
5,000,000 May l 1929
N . Y ., to Midway Park, Goshen, including switches, turnouts, &c. Rails
u $5,000.000 ($1,000) g.c*flu t. at Equitable Trust Co.. N. Y ., trustee.
stM . bonds may be called at 110 on any lnt. date. They are guar.,
05-lh. T and 80 and 90-lb. girder. Standard gauge.
OFFICERS.— Pres. & Gen. M gr., DeWitt C. McMonagle; V .-P ., Chas. prin. and Int., by endorsement, bv The Milwaukee Elec. Ry. & Light Co.
A. Kunkei; Sec., J. F. Weiss. Harrisburg, Pa.; Treas., W. M Oglesbv. Har (V. 8 6 , p 1012). Income tax withheld at the source at tho rate of 4%
risburg. Pa.; Aud., Miss M . L. Robinson.— V. 80. p. 998. 1059. 1425, 2340. when owned by a foreign corporation.
Year.
Gross Earns. Net aft.Taxes, A c . Int.Oth.Deduc.
Surplus
MICHIGAN CITY, IND.
tfl
MIDDLETOWN, N. Y.
f
Se p t ., 1938.1
p
ELECTRIC RAILWAYS
ROAD.— Total mileage, exclusive of controlled Mllw. Elec. R y.& Lt. Co.,
235.18 miles. 80-lb. T rail. 137 passenger cars. Steam power plant has
19.000 k. w. capacity.
REPORT.— Fiscal years ending Dec. 31:
1916.
1917.
1917.
1916.
$361,012
$907
G ro ss.............$2,232,388 $1,852,072 Other income.
Exponsos___ 1.440 121 1,021,815
$933,859
Depreciation .
74,073
124,244 Gross income. $540,561
446,774
586,581
Taxes ............
172,539
133,160 Interest _____
N et_______ $539,654 $572,847
Surplus-----$93,787
$347,278
Passengers carried in 1917, 15,552,753, against 14.186,851 in 1918.
OFFICERS.— Pres., J. D . Mortimer; V.-P. & Gen. M gr., S. R. Way;
V .-P., Chas F. Pfister; Troas., Geo. R. Sheldon; Sec. & Asst. Treas., Jas. F.
Fogarty; Asst. Sec. S Asst. Treas., F. J. Boehm, Mllw.; Asst. Sec., Robt.
c
Randall, N. Y. Gen. office. Public Service Bldg., Milwaukee; N. Y . office.
30 Broad St., N. Y. City. V. 104. p. 863, 1801; V. 106, p. 607, 2458.
(a) T he Milwaukee Electric Railway & Light Co.
ORGANIZATION.— Successor of Milwaukee St. Ry. Co. Jan. 29 1896
per plan In V. 60, p. 1009. Embraces all tho street railway lines (except
approximately 15 miles single track) In Milwaukee. Entire common stock
is owned by tho Wisconsin Edison Co. Tho company, besides its street
railway system, owns and operates an electric-light and power system and
a central-station steam-heat system in Milwaukee serving a population
now estimated at 450,000. In April 1917 acquired tho electric utility of
tho Commonwealth Power Co. and tho heating utility of tho Continental
Realty Co. and issued $1,450,000 Serial 5% notes in connection therewith.
V 106 p 919
The railway franchises of tho company run until Dec. 31 1934. V. 70.
n 39. Electric-light and power franchises are unlimited In time.
Valuation.— In Sept. 1917 the Wise. R R . Comm, submitted its report
on tho valuation of tho physical properties of the Milwaukee Elec. Ry.
& Lt Co. and Milwaukee Lt., lit. & Trac. Co., showing a reproduction
cost for both properties as of Jan. 1 1914of $37,319,297; capital expenditures
to Jan. 1 1917,* $3,206,700; total, as of Jan. 1 1917. $40,525,997 (not
Including any allowance for working capital or going valuo). V. 105.
p 1309. On tho basis of tho valuation of Jan. 1 1914, plus subsequent
capital expenditures, tho estimated reproduction cost of tho Milw. Elec.
Rv & Lt. Co. (exclusive of $2,129,428 materials and supplies on hand) as
of Dec. 31 1917 was $30,793,249.
, ,
On Jan. 30 1915 the Wise. RR. Comm, rescinded its order o f Aug. 23
1912 requiring tho sale of tickets in packages o f 13 for 50 cents Instead of
25 for $1. On Jan. 22 1918 Judge K. Ray Stovens in the Dano County
Circuit Court handed down a decision in tho litigation involving the validity
of $193 000 of coupons issued with tickots during the time the order was in
effect, 'declaring tho Commission’s order to have been unreasonable.
Filerease.— In June 1918 tho Wis. 11R. Comm. auth. tho co. to
cliar^o a straight 5-eent fare, eliminating tho salo of tickets at 6 for 25 cents
and 25 for $1. V. 106, p. 2450. In July 1918 was further auth. to increaso
interurban fares from 2 'A cents to 3 cents per mile and suburban fares from
30 tickots for 50 conts to 30 tickets for 60 cents. V. 107, p. 82. In Aug. 1918
applied to tho Comm, for a further faro revision asking that a central
5-ccnt zone be established in Milwaukee and its suburbs, and that those
riding beyond this zone bo mado to pay rates “ fairly proportionate to tho
cost and valuo of tho service rendered.’ V. 107, p. 906.
Hate Increases— V. 105, p. 1802, 1898. In Sept. 1918 tho Wise. RR.
Comm, approved tho c o .’s application for emergency increases in electric
light and power and steam heating rates. V. 107, p. 1192.
Proposed Merger.— In Fob. 1918 applied to tho Wise. RR. Comm, for
auth. to purchase tho property, &c., or tho Milwaukee Lt., ITeat.&Trac. Co.
Tho property to bo acquired had a reproduction cost as of Dec. 31 1917 of
$12,372,362, and will bo taken, when authority is received, subject to the
$5,000,000 1st 5s duo 1929. V. 106, p. 919.
Interest. Outstanding.
Maturity.
STOCK AND BONDS—
Date.
Common stock $20,000,000
$9,850,000
(par $100)___________ ____ _____
Preferred stock $4,500,000
4.500.000 July ’ 18 ,1A
6% non-cum (par $100)---- ------5 g F-A
Tho Milwaukee Elec Ry & ( 1898
6.500.000 Feb l 1926
Light Co cons, mtgo $8,-(Central Trust Co. N . Y ., Trustee. Int. pay000.000gold ($1,000)___c*f ablo at co ’s office, 30 Broad St., N . Y.
The Milw Elec Ry & LIghtf 1906
4J-S g J-J
6,728,000 Jan 1 1931
Co ref A ext M - . 520.000.-iTrust Co. of America. Now York. Trustee
000 gold ($1,000)closed c* l Int. at c o .’s office, 30 Broad St., N. Y.
Gen S ref mtgo $90,000,0001 1911 6 J-D
c
5,819,000 See text
gold (51,000) Scr “ A” .c*tf lint, at N . Y . Bankers Tr. Co., N. Y .. Trus
Secured notes $3,500,000 gold/ 1918
7 g M -N
2,000,000 M ay 1 1920
($500 and $1,000)______c*\Bankers Trust Co., New York, Trustee.
Notes, $1,450,000 ($1,000)--- 1916 5%
1.150.000 See text.
Stock and Bonds.— Tho bonds and tho prof, stock are listed on tho N. Y.
Stock Exeh. 1st cons. mtgo. is closed. Of the ref. and ext. bonds, $6,
500,000 aro reserved for prior liens and $6,772,000 aro deposited as collateral
to gen. & ref. mtgo. bonds. Bonds aro subject to call since Jan. 1 1916 at
108 and interest. No sink. frl. See V. 81, p. 1724, 1792; V. 84, p. 508.
Gon. & ref. mtgo. falls duo Dec. 1 1951, except that in tho event tho co.
has not acquired a franchise extending to 1954 on or before Dec. 1 1931,
the mortgage becomes duo on that dato. Bonds of Series A aro redeem
able on any interest date at 105 and interest, on 6 weeks’ notice. $13,228.
000 are reserved for prior liens; remaining $66,953,000 are for extens., iinpts.
and acquisitions, at 80% o f cost thereof under certain restrictions. No
sinking fund. See V. 93, p. 1787. Bonds listed on N. Y. Stock Exchange.
$6,772,000 ref. S ext. bonds pledged as collateral for tho gen. & ref. bonds.
c
Note's— Tho 5% notes of 1916 aro secured by $1,000,000 gen. S ref
c
bonds ' Thoy mature $150,000 on each July 1 to July 1 1926. $300,000
havo boon paid off. Tlio 2-year 7% notes are secured by $3,000,000 gen. &
ref. M . bonds. The remaining $1,500,000 notes aro lssuablo under certain
restrictions and only when thoy are secured by gen. & ref. mtgo. bonds in
tho ratio of 150%, or against tho deposit with the trustee of cash equal to
tho faco valuo of tho notos to bo issued. Callable on 4 weeks’ notice at
101 and hit. on Nov. 1 1918, and on any int. date thereafter at 100>4 and
int. V. 106, p. 2229. Int. payable at co. s office in N. Y.
Dividends.— Regular quarterly dividends of 1 'A% havo been paid on tho
prof, sinco Feb. 1900.
REPO RT.— Fiscal year ending Doc. 31 (1917 report in V. 106, p. 919).
-----1917.
1916. >
1917.
1916.
G ross............. $7,968,192 $6,961,151 Gross income.$2,237,582 $2,107,001
931.362
759,394
Expenses___ 4,687,713 3.628,145 Interest
270,000
270 000
Doprec’n, & c.
593,678
865,898 Preferred dlvs.
T ax es.............
557.347
437.280 Common divs. 1.034,250 1,058,875
07
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
$1,747,600 ---------------Com stock $1,750,000 ($100). ...........................
Pref cum $1,600,000 ($100).............
6%
500,000 ---------------First mortgage gold ($l,000f 1912
5 g J-D
3.287.000 June 1 1952
& $500)_______________c*iln t. payable at office of co. in N. Y . Harris
[ Trust S Savings Bank. Chicago. Trustee.
c
Watertown Gas S Elec 1st M ( 1905
c
5 J-D
130.000 June 1 1921
$300,000 gold. Red atjln t. at Bank of Watertown. Wisconsin
10244___________________ I Trust C o., Milwaukee, Trustee.
Bonds.— Additional 1st M . bonds may be issued only for 80% of cash cost
of permanent impts., &c., when the annual net earnings are 144 times the
Int. charge, inch bonds to bo issued. Bonds red. at 105 and int. since
Juno 1 1917. $27,000 of the Watertown G S E. 5s reported outstanding
c
are held in treasury. Are callable at 102>4 and int. on any int. date.
Income tax withheld at tho source at the rate of 4% when owned by a
foreign corporation.
EARNING S.— For year ending Dec. 31:
Year—
Gross.
Net (.after Tax.) Oth. Inc.
Interest.
Surplus.
1917.............$1,510,679
$310,246
$31,008
$181,695
$159,559
1916 ............ 1,143,791
293,495
25,549
139,559
179,485
1915 ............
950.737
255.900
15,416
137.766
133.550
PROPERTIES.— Miles of single track, 7.851;mlles of gas mains, 203:
O F F IC E R S — Pres., J. D. Mortimer; V .-P., S. B. Way; Sec.-Treas..
F. J. Boehm; Asst. Sec., J. F. Fogarty; Asst. Treas., Robt. Scaly; Gen.
M gr., D. E. Callender; Aud., E. Jorgensen.— V. 102, p. 1352; V. 103, p.
1432; V. 104, p. 1806; V. 106, p. 2458.
WISCONSIN TRACTION. LIOHT. HEAT & POWER CO.
ORGANIZATION.— This company was incorporated at Milwaukee in
Mar. 1900 with a nominal capital of $10,000 (since increased to $1,000 900).
for tho purpose of uniting certain properties in the Fox River Valley.
Secured control of the Fox River Valley Electric R y. and the Appleton
Electric Light S Power Co., and has consolidated them. In Sept. 1904
c
purchased ontire capital stock of tho Fox River Valley Gas & Electric Co.
and guarantees Its bonds, prin. S int. See V. 79, p. 787, 1267.
c
In Mar. 1914 tho Wisconsin Supreme Court sustained the State RR.
Comm, in holding, in company's suit against the city of Menasha, that the
city cannot do a commercial lighting business in connection with its own
street-lighting service without the necessary authority from the Commission
V. 98, p. 764.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $1,000,000 (3100)............ ..
Q-J
$699,400
See text
First mtge ($3,000,000) $1,-1 1901
5 g J-J
1,500,000 July 1 1931
000 gold no sink fund_ c*/Int. at First Trust C o.. M llw., Trustee.
_
Fox River Valley first mtgei 1901
5 g A-O
350,000 April 1 1921
$350,000 ($1,000) gold_ clMerchants’ Loan S Trust C o., Chic., Trust.
_
c
Bonds.— Entire 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 at 105 and Int.
Dividends.— In 1914 and to and inch Jan. 1918, at the rate of 5% per
annum. None since.
EA R N ING S.— For years ending Dec. 31:
Year—
Gross.
Net(aft.Tax-). Oth. Inc. Interest. Divs.(5 % )Surplus.
1917
.$665,741
$136,094
$11,045 $95,749 $34,940 $16,450
1916 ........... 495.447
168.571
10.385 78,484
34,940
65.532
ROAD.— Operates 15.82 miles of track, connecting Neenah, Menasha.
Appleton and Kaukana, 3.57 miles locally in the city of Appleton and 2.03
miles sidings and turnouts; total, 21.42 miles. Also furnishes electric light
and power and gas to Appleton, Neenah and Menasha.
OFFICERS.— President, John I. Beggs; Vlce-Pres.. Chas. F. Pfister.
Milwaukee; Sec. & Treas., A. K . Ellis.— V. 91, p. 96. 1770: V. 98, p.
764; V. 101, p. 1093.
____________________ _
M IN N E A P O L I S , M IN N .
TWIN C ITY RAPID TR AN SIT.— 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 com
panies (to wit, Minneapolis St. Ry. C o., The St. Paul City Ry. C o., the
Minneapolis Lyndale & Minnetonka Railway Co. and The Minneapolis
S St. Paul Suburban R R . Co.) controls the entire street railway system
c
of Minneapolis, St. Paul, Stillwater, and lines to Excelsior, Tonka Bay and
Deopliavon at Lake Minnetonka. In 1906 absorbod the North Side Street
Ry. (Robbinsdale line) and the St. Louis Park line; V. 83, p. 1472. In
1905 articles of Incorporation were amended so as to make the charter
perpetual. V. 80. p. 1914.
Settlement with City of St. Paul.— For decision as to right to build new
linos in St. Paul, see V. 79. p. 271. 2087, and for settlement with City o f St.
Paul by which the city relinquishes Its right o f appeal from this decision and
the company agrees to pay into the city treasury real and personal property
taxes, equal to at least 6% of gross earnings; see V. 80. p. 1175.
On Oct. 23 1914 the Minnesota Supreme Court sustained the validity
of an ordinance passed by the City Council in May 1910 ordering tx tSt.
Paul City Ry. to construct a car line on St. Clair Ave., branching rom
West Seventh St. V. 99. p. 1301.
Neio Subsidiaries.— Because of a decision of the Supremo Court holding
that suburban lines, as railways, are amenable to the Minnesota 4% gross
earnings tax, it was decided in Mar. 1910 to Incorporate The Minneapolis
S St. Paul Suburban R R . ($1,000,000 stock. Increased to $3,000,000 in
c
Jan. 1911; dobt limit was also increased to 510,000,000: V. 92. p. 187),
The Minnetonka S White Bear Navigation Co. ($256,006 stock) and The
c
Rapid Transit Real EstateCorp., $15,000 stock, and to re-arrange matters
sp that the suburban lines, the steamer lines and the hotels, parks. Sea., of
the company might be handled separately for taxation and accounting pur
poses. V . 90, p. 850.
Franchise and Fares.— The horse car franchise granted to tho St. P. City
Ry. Co. by the City of St. Paul Is without limit. The ordinance to use
electricity expires partly In 1937 and partly in 1939. On Aug. 24 1907
Judge Lochron of the U. S. Circuit Court granted a permanent injunction
against enforcing the ordinance of Feb. 18 1907 requiring street railways to
sell six faros for 25 cts. (see V. 85, p. 532). On Jan. 3 1910 U. S. Supreme
Court affirmed the decision of Judge Lochren. This decision sustains the
company’s claim to the right to charge 5-cent fates. V. 90, p. 111. The
Minneapolis St. Ry. franchise expires in 1923. In Aug. 1918 tho Minneap
olis St. Ry. applied to tho City Council for auth. to increase fares to 7 cents.
V. 107, p. 605.
Valuation of Minneapolis Street Ry.— For reports on valuation of property
in connection with franchise matters, see V. 105, p. 1523, 2185; V. 106J
p. 716.
Extension.— In Juno 1918 holders of 1st M . bonds o f the Minn. Lyndall
S Minnetonka Ry. and 1st cons. M . bonds of the Minn. St. R y ., duo
c
Jan. 15 1919, were given an opportunity of extending same to Jan. 15 1922
at 7% from July 15 1918. A large proportion of the bonds were extended
and tho remaining 7% bonds not taken by holders of the maturing 5s wero
sold. V. 106, p. 2758; V. 107, p. 292. The unextended 5s havo been
N et............. $2,129,454 $2,029,828
Surplus-----$1,970
$18,732 eliminated from the table.
Other Income.
108,127
77.173
.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Rovonuo passengers carried in 1917, 115,626,143. against 107,528,091 in Twin City Rapid Transit—
1916; transfer passengers, 47,232,242, against 44,665,506.
Cora $22,000,000 ($100)...............
6 Q-J$22,000,000
See text.
Pref cum $3,000,000 ($100). 1895 7 Q-J
3,000,000 Oct ’ 18. I J*
ROAD.— Total track operated. 195.79 miles, o f which 168.28 miles
owned and 27.51 miles leased. Steam power plants have an aggregate Minneapolis Street Railway Co.—
1st con M g$5,000,000-C*cpt 1918 7 g J-J15
5,000.000 Jan 15 1922
capacity of 77,650 k. w. 574 passenger cars.—V. 106, p. 822, 919, 1124,
St Paul City Railway Co—
2229, 2345, 2450; V. 107, p. 82, 906, 1192.
First mtge on real estate andl 1832 6 g A-O
224,000 April 1 1934
(b) W isconsin Clas & Electric Co.
horse-car franchise. _cptfExchangeable at 105 for first consolidated.
ORGANIZATION.— Succeeded in 1912 the Racine Gas Light Co. In
First consol mtge g old --cp t 1884
6 g A-O
456,000 Oct 1 1934
corn. In Fob. 1867) and acquired the Kenosha Gas & Electric Co. and Ke
Cable con gold(seo text) cpt 1887
5 g J-J 15 3,708.000 Jan 15 1937
nosha Electric Ry. Does entire gas business In Racine, Kenosha, South Minneapolis A St Paul Suburban Ry—
Milwaukee. Cudahy and Watertown; tho entire electric lighting, power and
1st M g $500,000 guar byl 1899
5 g M-S
500.000 Sept 1 1923
street railway business in Kenosha, and the electric light and power busi
TwCy R T&StPCy c*cpt) Interest at Central Trust C o., N. Y ., Trustee
ness In Watertown, Burlington. Lyons, Springflold, Johnson’s Creek, Jef Minn Street A St Paul City Ry—
ferson Junction, Menominee Falls, Lannon, Corliss, Clyman and ThlensJoint con mtge $10,000,0001 1903
5 g A-O
10,000.000 Oct 1 1923
vlllo, and wholesales power for supply to Fort Atkinson. Lake Mills, White
($1,000) gup S i-.c*cptfC entral Trust Co. of New York, Trustee.
c
water, Palmyra, Lake Geneva, Dolavan and Elkhorn. Electric light and Real estate mortgages------------------6%
375.000 1918 to 1923
power business In Kenosha is done under Indeterminate permit. Franchise
All bonds aro for $1,000 each, and, with the exception of the Mlnneniiolls
for street railway extends until 1952. Tho company has the right to con S St. Paul Suburban Ry. and the Joint Issue of 1903, Interest is payable
c
duct its gas business either under an Indetermfnato permit or under the at Farmers’ Loan & Trust Co.. New York. Company pays Federal U come
special (porpotual and exclusive) franchises originally granted.
tax up to 2 % on tho above issues.
In July 1915 increased auth. common stock from $1,000,000 to $1,750,000
Stock.— Stock listed on N. Y. Stock Exchange.
and Issued $657,500 of the now stock to acqulro tho Watertown Gas & Elec.
Bonds.— The Minneapolis Street Railway Co. Jointly and severally with
Co. and tho Burlington Elec. Lt. S Pow. Co. (both controlled by tho W is tho Minneapolis Lyndale S Minnetonka Railway C o., issued $5,000,0 ■P5%
c
c
consin Edison Co.) and to discharge $162,000 floating dobt Incurred in mak 30-year first mtgo. and first consol, mtgo. gold bonds, due Jan. 1 f 1919
ing additions and betterments.
A large proportion has been extended to Jan. 1 1922 at 7% .
T h fy are
Rales.— On Oct. 9 1917 was auth. by tho Wise. RR. Comm, to Incroaso secured by tho same mtgo. as the old 5s and aro unconditional^ /uar
heating rates in Kenosha, effoctivo Sept. 15 1917, from 20 cents to 27^4 p. and i., by tho Twin City Rapid Transit Co. See statement t c
Y.
cents per square foot of radiation per year.
Stock Exchango in June 1895. Y. 60, p. 1149.
ELECTRIC RAILWAYS
68
The St. Paul City Railway Co. has Issued $3,708,000 5% 50-yr cable con
solidated bonds, and may Issue $680,000 now held by the Farmors’ Loan &
Trust Co., trustee, to redeem the $680,000 prior lien bonds; limit fixed by
this mtge. Is $4,388,000, and no further underlying bonds can bo put out.
V. 77, p.2281. Part of theso cable consols ($1,138,000) Is guar. (p. & 1.)
by end. o f Twin City Rapid Transit Co. See statement to N. Y . Stock
Exch. in Juno 1895, V. 60. p. 1150. Of the 1st consols, mtge. of the St.
Paul City, $224,000 are hold by the Farmers’ Loan Sc Tr. Co. to bo ex
changed 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 Ry.
Guaranteed, prln. and int., by endorsement, by Twin City Rapid Transit
Co. see V. 77. p. 2281 and 2340).
.
Dividends.— On preferred Is paying 7% per annum. First dividend of
1% was paid on the common stock In Aug. 1899; In 1900, 3% ; In 1901. 4% ;
1902 to 1909 incl , 5% per ann ; 1910 to 1917 incl . 6% per annum. In
1918, Jan., 1H % : April, 1%; July dividend omitted (V. 106, p. 2451).
ROAD.— On Dec. 31 1917 comprised 451.38 miles single-track equivalent.
Including four interurban lines connecting the business centres of Minne
apolis and St. Paul, an interurban lino of 22 miles connecting St. Paul and
Stillwater, and linos to Lake Minnetonka. Standard gauge. On the prin
cipal streets of the cities 90-lb. T rail with welded joints.
Power.— The company leases water-power at St. Anthony’s Falls (ca
pacity 22,000 h. p .), which power 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.
ANNUAL R EPO RT.— Report for 1917 was in Y. 106, p. 493.
Year end. Dec. 31—
1917.
1916.
1915.
1914.
Revenue pass, carried.. 199,621,160 199,848,096 185,654,985 184,352,963
Transfer pass, carried.. 73,678,873 74,425,935 69,259,767 66,742,000
Receipts from transp’n .$10,119,755 $10,130,113 $9,401,233 $9,227,602
Rects. from oth.sources.
87,958
84,366
76,658
72,043
Total recoipts............. $10,207,713 $10,214,479 $9,477,891 $9,299,645
Operating expenses____ 6.723.520
6,254.643
" "
$3,950,836 $3,413,263
Net earnings________
Interest, taxes, &c_____
$1,695,655 $1,680,297
20,691
Miscellaneous debits_
_
26,633
210,000
210,000
210,000
DIvs. on pref. stk. (7%)
1.319.916
1,250,514
1.320.000
Divs. on com. stk. (6%)
$707,548
$182,359
$427,127
Balance, surplus_____
$8,050
.
.
LATEST EARN INGS.— For 7 months onding July 31:
7 Mos.—
Gross.
Expenses.
Net.
Int.,Taxes,&c.
Surplus.
1918_______85,604,532 $4,075,467 $1,589,065 $1,103,068
$485,997
1917_______ 6,034,121
3,975,678
2,058,443
1,026,682
1,031,761
OFFICERS.— Pres., Horace Lowry; 1st V.-P., E. VV. Docker; 2d V.-P..
John R. Mitchell; 3d V.-P. & Sec., A. M . Robertson; Aud., D. J. Strouse;
Treas., E. A. Crosby; Gen. M gr., Foster Ilannaford.— V. 105, p. 2367;
V. 106, p. 493, 602, 716, 1037, 2451, 2758; V. 107, p. 502, 605, 292.
MINNEAPOLIS NORTHFIELD & SOUTHERN R Y .— Incorp. in
South Dakota in July 1918 to tako over the property of the Minneapolis
St. Paul Rochester & Dubuque Elec. Trac. Co. (“ Dan Patch” line) sold
at auction July 29 1918. Auth. capital stock, $500,000; par valuo of shares,
$100. Seo “ Electric R y.” Section for May 1918, and V. 106, p. 2649.
On Aug. 7 1918 was liconsed for businoss in Minnesota. V. 107, p. 1004.
In Sept. 1918 it was reported that the stockholders planned to resume
operation o f the cutoff from Auto Junction to Short Lino Junction and
thence to Minneapolis. V. 107, p. 1192.
ROAD.— Has 52 miles of lino in operation and 14 under construction.
OFFICERS.— Pres., James H. Ellison; V.-P., II. A. Whittier; Treas.,
W. O. Winston; Sec., It. H. Bonham. V. 107, p. 697, 1004, 1192.
MOBILE, ALA.
MOBILE LIGHT & RAILROAD.— Trolley.
ORGANIZATION.— A consolidation on Sept. 1 1901 of the Mobile Light
S Railroad and the Mobile Street RR.; the franchises of both companies
c
were extended on Sept. 12 1901 to March 12 1955. See V. 73. p. 616.
In July 1906 the Mobtlo Illuminating Co. purchased the electric-light
lant of the company and under contract o f purchaso pays to the Mobile
it. & R R . 70 soml-annual paymonts o f $11,464.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $2,250,000 (par $ 1 0 0 )_ ........................
$2,250,000 A ug’ 18, 3%
First mtge gold ($I,000)-ntfJ 1897
5 g J-D
340.000 July 1 1937
lin t, at Farmers’ Loan S Trust C o., N. Y.
c
Mobile Street RR first mtgel 1893
6 g M -N
255,000 May 1 1923
gold $300,000_______ c*ntf)Farm ers’ Loan Sc Trust C o., N. Y ., Trustee.
I Interest at National City Bank, New York.
Consolidated mortgage, gold! 1901
5 g M-S
1,185.000 Sept 1 1941
($1,000) $2,250,000_ c*tf {Interest at New York Trust C o ., N . Y ., Trus.
_
Bonds.—Of the $2,250,006 mtge., $610,000 are reserved for prior liens.
$18,000 are in treasury, $302,000 aro in Trust Fund and $135,000
have been retired. $60,000 1st M. M . L. & RR. Co. bonds have been
retired.
815,000 M . S. R R . bonds aro in treasury and $30,000 have
been retired.
EARN ING S.—
Gross
Net (.after
Fixed
Balance,
Calendar Year.
Earnings.
Taxes).
Charges.
Surplus.
1917_________ ________
$522,511
$155,423
$115,358
$40,065
1 9 1 6 -.- ...........................
510,178
181,611
114.973
66.638
Dividends.— Initial dividend— H % — Aug. 1 1909; in 1910, K % ; in 1911,
21*%; in 1912, U * % : in 1913, 2% ; in 1914, 3% ; in 1915. 2% ; In 1916, 3% :
in 1917, 2% . In 1918, A p rl, 1%; Juno, 1%; Aug., 3% .
ROAD, &c.— Owns 59 miles of track In Mobllo and extensions to Maga
zine Point, Spring III11, Whistler and Monroe Park. Company also owns
“ Monroe Park” and water power and 260 acres of land adjoining.
OFFICERS.— Pres. & Gen. M gr., J. H. WIIrou; V .-P ________________
Sec. & Aud., M . W . Glover; Treas.. O. White 8punnor.— V .8 6 ,p . 1529.
S
MONMOUTH, ILL.
ROCK ISLAND SOUTHERN RAILROAD,
Was leased to the Rock Island Southern Railway (now Miss. Valloy Ry.
& Power Co.) from Feb. 1 1913 to Dec. 31 1913, on which date lease was
^O R G A N IZA T IO N .— Incorp. In 1906 under Steam RR. Act of Illinois.
Operated by electricity for passengers aud steam for frolght. Franchises
In Monmouth are for 20 years.
Application for a receiver by the original promoters of tho road was de
nied In Sept. 1915. V. 101, p. 1014.
Bondholders' Committee.— E. J. Eddy, Chairman: Charles H. Dudley
and M . O. Williamson. Deposits of bonds with the Fidelity Trust Co.
Portland, M e., and Poople’s Trust S Savings Bank, Galosburg, III., have
c
been called for. See V . 102, p. 886.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $500,000 ($100).......................
------$500,000 ---------------First mortgage $2,500,000 g \ -----5 g J-J
521.000 Jan 1 1947
($1,000) red at 105______c jln t. at Amor. Tr. & Sav. Bk., Chic., Trustee
ROAD.— 16 miles between Galesburg and Monmouth. 75-lb. rail.
OFFICERS?.— Pres., L. F. Sutton; V .-P., Will Halsted Clark, Chicago;
Sec. & Treas., J. VV. Walsh; Gen. M gr.. Geo. W. Quackenbush, Rock
Island, 111.— V. jO*, p. -04; V. 102. p. 886.
l
MONTGOMERY, ALA.
MONTGOMERY LIGHT & TRACTION C O .—A trolloy road.
ORGANIZATION, &c. Montgomery Trac. Co. was chartered In 1893.
On Dec. 29 1911, having acquired the lighting property owned by Richard
TUI is, name was changed Trom Montgomery Trac. Co. to above title (V. 94,
p. 207), and In June 1912 stock was Increased from 51,000.000 to $2,000,000to nay for new property. V. 94, p. 1764. Stock had previously been de
creased from $2,000,000 to $1,000,000 In 1909. V. 88, p. 375.
Does entire street railway business and has an electric light and power
system In Montgomery nnd Its suburbs. Street railway franchises that are
not perpetual explro between 1932 and 1942. Electric light and power
franchise runs till 1940. ..
Power Contract Decision.— See V. 103, p. 1593.
Fares.— In Sept'. 1918 applied to tho City Commissioners for auth. to
increaso faros from 5 cents to 7 cents. V. 107, p. 1101.
STOCK AND BONDS—
Dale.
Interest. Outstanding.
Maturity.
Stock $2,000,000 ($ 1 0 0 )-.--...............................
$2,000,000 .................
ls t & r o fM $5 .0 0 0 ,0 0 0 sk fdJ. 1912 5%
1.600,000 April 1 1942
Mont Street Ry 1st mtgel 1893 6 K F-A
350,000
Aug. 1923
$350,000 g o ld ___________ JInt.at Farmers’ L. S T . C o., N, Y ., Trustee.
c
Bonds.— Of the 1st S refunding bonds, $350,000 aro reserved for prior
c
lien and $3,650,000 for add’ns S botterm’ts at 80% of cost, or for acquisi
c
[Vol . 107
tion or refund., $ for $, of bonds of other properties which may be acquired.
81nk. fd. equal to 1% of all bonds authenticated annually began April 1
1916. V. 95. p. 47.
EARNINGS.— Of combined properties for cal. year 1914, gross, $396,*
695; not, after taxes, $106,681.
ROAD.— Operates 38 miles of track (Including 4 miles of double track) In
Montgomery and to Pickett Springs; 56 cars. Standard gauge; 70-lb. T
and 95-lb. girder rail. Power-house capacity, 4,000 k.w.
OFFIOERS.— Pres., Ray Rushton; Sec.. H. F. Crenshaw; Treas..
Chas. E. Norton.— V. 103, p. 1593;
V. 105, p. 1714; V. 107, p. 1101.
M O N T O U R S V IL L E , P A .
MONTOURSVILLE PASSENGER RA ILW A Y.— A trolley road.
ORGANIZATION.— Chartered In Pennsylvania Juno 28 1897. Com
menced operations Dec. 16 1897. Owns all the stock of the Montoursvllle
Electric Light Co. Stock auth. and Issued, $75,000. Funded debt auth.
and Issued, $112,000 5% 30-year gold bonds (tf) dated M ay 1 1908, Int.
M . & N. Oporates 5>* m. of track from Williamsport to Montoursvllle. Fa.
EARNING S.— 12 mos. end. Juno 30 1918 (incl. Mont. Elec. Lt. C o.),
gross, $35,029; expenses, taxes, Int., &c., $44,504; deficit, $9,475.
OFFIOERS.— Pres.. O. L. Peasloe, Williamsport; V .-P ., F. O. Leonard,
Ooudersport; Sec. S Treas., VV. P. Beeber, Williamsport; Gen. M gr..
c
Frank Rennlnger, Montoursvllle.— V. 94, p. 207, 1764; V. 95, p. 47.
M O R R IS T O W N , N . J.
MORRIS COUNTY TR ACTION .— An electric road.
ORGANIZATION.— Incorporated In New Jersoy In 1899. Charter
gives company right of eminent domain. Built mostly on private right of
way. Franchises through towns are perpetual or for 35 yoars.
On Feb. 211913 the N. J. Pub.Utility Comm, approved tho plan to Issue
$300,000 cap. stock to retire the $3,000,000 existing stock (one new share
for ten old), and $4,179,000 bonds of an auth. $5,000,000. to be secured by
a mtge. to the Safe Dep. S Tr. Co. of Pittsburgh, as trustee; $3,000,000 for
c
refunding existing bonds and $1,179,000 for other Indebtedness. V. 95. p.
1746. 680; V. 96. p. 653.
.
Readjustment Plan.— Interost on tho $3,000,000 1st M . 5s having boon
In dofault sinco Juno 1912 (except $28,875 paid on coupon No. 15, duo in
Dec. 1912, the balance, $46,125, nob having been paid), and no interest
having ever been paid on tho $1,179,000 Gen. M . 5s, a 5-year agreement
dated Juno 18 1917 was entered into bv tho company and assonting bond
holders, under which (a) the $46,125 still unpaid on coupon No. 15, duo
Dec. 1912, was paid forthwith: (5) tho fixed interest on tho 1st M . bonds
for tho noxt five years (till and including tho coupon duo Juno 1922) was
reduced to 2 % per annum, with a further 3% if oarned; (c) second mort
gage bondholders surrendered their bonds to tho Safe Doposit S Trust
c
Company of Pittsburgh, to bo canceled (along with tho mortgage socuring the same), and accepted in lieu thoroof, $ for $, gold incomo aobonturo bonds of $1,000 each, due Juno 16 1948, with int. not exceeding 5%
p. a., payable only as earned and declared by tho board. Tho matured
coupons Nos. 16 to 24 (Juno 1913 to and incl. Juno 15 1917) on 1st M . bonds
were detached and delivered to tho depository in exchange for “ certifi
cates of ownership,” which shall entitle tho holder to tho return of tho de
faulted coupons (without waiver of any legal liability of tho company
for the payment of tho same) upon termination of this agreement or when
ever determined by tho board. The company agrees to give the minority
bondholders representation upon its board of directors and, during the Ilfs
of this agreement, Alexander C. Robinson of Pittsburgh and Arthur E.
Pendergast of Trenton, N. J., shall be two of the directors. For further
details seo V. 105, p. 819.
Fares.— On July 8 1918 applied to the N. J. P. U. Comm, for auth.
to increase fares from 5 cents to 0 cents in each zone. V. 107, p. 182.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock common (see text)____ _____
_______
$300,000 ________ First mortgage $3,000,000( 1905 5 g J-D 15 3,000,000 June 15 ’35
($1,000) gold callablo atlln t. at Pooplo’s Sav. S Trust C o., Pittsc
110 and interest_ c*&r.tfl burgh. Trustee.
_
Income debenture bonds/ 1917
5 g J-D
1.179.000 June 16,'48
($100)___________________ lin t, at Peoples Sav. & Tr. C o., Pitts., trustee
EARNINGS.— For calondar year 1917, gross, $410,574; net, $142,911;
1910, grass, $398,789; not, $142,676; 1915, gross, $350,225; not, $112,596.
ROAD.— Owns 44.01 miles road, 58.33 miles of track. Road is In oper
ation from Maplewood to Danforth Road, Madison, 10.89 miles; Morris
town to Lake Hopatcong, 21.81 miles. Branch lines, Springfield to Eliza
beth, 5.34 miles: Denville to Boonton, 4.90 miles; Dover to Wharton, 1.06
miles. The 2.69 miles of road botwoon Danforth Road and Morristown
are owned by the Morris RR. and aro oporatod under leaso; also oporate
under lease branch lines, Morris Plains to State Haspltal, 1.36 miles; Lake
Hopatcong to Bertrand Island, 1.89 miles. Total road operated. 50.57
miles. Gauge, 4 ft. 8 H in. 70-lb. T rail in country, 80-lb. girder In citios.
The building of a line from Landing to Netcong is under consideration.
OFFICERS.— Pres., Henry R. Rea, Pittsburgh, Pa.: V.-P., Jos. K\
Choate, Morristown: Sec. S Treas., O. G. Schultz, Morristown: Gen. Mgr.,
c
C. O. Weidman.— V. 105, p. 819, 2456: V. 106, p. 2500; V. 107, p. 182.
M O U N T H O L L Y , N . J.
BURLINGTON COUNTY TRAN SIT C O — Trolley.
ORGANIZATION.— Incorporated In New Jersoy on July 1 1910, as
successor to the Burlington County Ry. Co. V. 90, p 1612. Stock auth.
and Issued, $120,000 ($50). No bonds.
As of Juno 1 1916 the N. J. Public Utility Comm, authorized tho company
to Increaso tho fare from Moorestown to Mount Holly and from MTount
Hollv to Burlington from 10 to 15 cents each.
EARNINGS.— For year ending Juno 30 1917, gross, $66,565; net, from
operations, $8,566. In 1915-16, gross, $68,131; not from operations, $2,
390. In 1914-15, gross, $73,101; not from operations, $6,160; dividends
(4 % ). $4,750; surplus. $1,410.
ROAD.— About 15 miles of track from Burlington through Mount Holly
and Halnesnort to Moorestown. 60-lb. T rail. Gauge, 5 ft. On March 29
1916 9 of the company’s 11 cars were completely destroyed by fire. Now
has 4 passenger and 2 repair cars.
OFFICERS.— Pres., Albert Haines; V.-P., John D. Johnson Jr.; Sec.
Treas., Armitt H. Coate; Mgr.. Edwin O. Davis.
M U S K E G O N , M IC H .
MUSKEGON TRACTION & LIGHTING CO.
In Jan. 1906 almost the entire stock was acquired by the Amorlcan Light
& Traction Co. V. 82. p. 49.
ORGANIZATION.— Incorporated In Michigan on March 1 1901. and Is
a consolidation of the street mil way, electrlc-llght aud gas companion of the
city. Franchises explro: gas, 1925; railway, indeterminate.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $600,000 ($100).......................
.............
$600,000 ............... ..
Preferred $100,000 6% c u m . . ____
6
63,000
See text
First mortgage $600,000 gold f 1901
5 g M-S
600,000 Mar 1 1931
($1,000)----------------------- tf{ Interest at Wyoming Valloy Trust C o..
Callable at 105__________ \ Wilkes-Barre. Pa.. Trustee.
Dividends.— On preferred stock 6% yearly from 1902 to date.
ROAD.—Owns 15 miles of road and sorves as a terminal for the Grand
Rapids Grand Haven S Muskegon Ry., which operates 40 miles of track
c
between points Indicated in tho title.
OFFICERS.— Pres., J. Q. Ross; V.-P., J. T . Young; Sec. & Treas.,
H. P. Lewis, Muskegon; Asst. Sec. Sc Asst. Treas., O. N. Joliffo; And.,
James Lawronce; Gen. Supt., Walter Fyke.— V. 96. p. 1840; V. 101, p. 774,
M USKOGEE, OK LA.
MUSKOOEE ELECTRIC TRACTION CO,— A trolley road.
ORGANIZATION.— Incorporated In 1904 In Indian Territory. In Oct
1912 acquired the People’s Electric R y., which was merged into this prop
erty. aud issued $600,000 new 1st M . bonds to refund an earlier Issue of
$150,000 and In part payment for the People's Elec. Ry, $200,000 addi
tional bonds will bo issued In final payment when annual net earnings are
twice the interest charges on bonds out. Including theso $200,000. Fran
chises are unlimited as to time.
Right of Purchase by City.— The city has tho right to purchase all tho com
pany's property within city limits In 1934 and at tho end of every 15-year
period thereafter, at a price determinable by arbitration, but lu Case of
such purchase the bonds must be either paid off or assumed by tho city,
and In the latter evont the compauy must bo allowod to oporate Its cars
from suburban or Interurban points to the centre of the city on a rental
basis. See V. 95. p. 1331.
Has favorable long-time power contract with the Muskogee Gas & EL C o .
ELECTRIC RAILWAYS
Sept ., 1918.]
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock SfiOO 000 (3100)
Q-M
$500,000
See text
First mtge $5,000,000 sinking 1 1912 5 g M -N
600.000 May 1 1024
fund gold ($1.000).........c*(Int. at Equitable Tr. C o., N. Y ., Trustee.
Remaining bonds may be Issued for additions and betterments at 80%
of cost, with certain restrictions. Subject to call as a whole, or In part, at
105 and lnt. on any lnt. day on 3 weeks'’ notice. Semi-annual sinking Bind
began Jan. 1 1914 or 44 of 1% o f all bonds outstanding. V. 95. p. 1331.
llivid en d s.-1908. fT%; 1909. 6 % ; 1910 to 1912. Inclusive 8 %.
EARNINGS.— For year ending Dec. 31 1917, gross, $185,904; net (after
taxes), $59,038. In 191d, gross, $163,372; net (aftor taxes), $56,271.
ROAD.— Operates city lines, 16.13 miles, and Interurban and suburban.
15 13; total, 31.26. Standard gauge, 70 and 60-lb. T rail. 47 pass, cars
(of which 34 pro-payment); 2 ml.se. cars and 1 elec. locomotive. Also owns
an amusement park on Arkansas River about 5 tulles from Muskogee.
OFFICERS.— Pres., It. D. Benson; V .-P.. VV. S. Bonson; Sec. & Treas..
W. M . Cutllp; Local M gr.. R. D. Long.— V. 95. p. 1331.
NASHUA, N. H.
NASHUA STREET R A IL W A Y — Trolley.
t
O R G A N IZA T IO N — Incorp. Aug. 14 1885. Owns and operates 16.14
miles of main track. On July 1 1900 was leased to the Lowell A Suburban
for 99 years (succeeded by Bay State Street R y .). The receiver appointed
In Dec. 1917 for the Bay State St. Ry. terminated the lease and turned
the proporty back to the stockholders. It is expected that suit will bo
brought against the Bay State St. Ry. for damages.
Fares.— In Aug. 1917 the N. II. P. S. Comm. auth. an Increase in fares
on the company’s lines to 6 cents.
STOCK, BONDS, AO.—
Date.
Interest. Outstanding.
Ho.& M ai.
Stock. $325,000 (par $100)-— ------------ ---------$325,000 See text
First mortgage. $150,000,1 1901
4 g A-O
150.000 ’ >ct 1 1931
($1 000) gold
c* tr/In t. at Old Colony Tr. Co.. Boston Trustee
hands.— Entire issue may bo called at 105 and accrued interest.
Dividends.— Under tho lease to the Bay State St. Ry. dividends of 6 %
p. a. wore boing paid, but payment duo Jan. 1 1918 was defaulted—see
remarks above.
. _
, , ,, .
T ,, ... „
OFFICERS — Pres., George A. Fernald, Boston; Treas., J. E. Tolies,
Nashua, N. It.— V. 106, p. 8 6 , 607, 1036.
NASHVILLE, TENN.
TENNESSEE RAILW AY, LIGHT & POWER CO.
ORGANIZATION.— Incorp. In Maine on April 23 1912. V. 94. p. 1120.
Is a holding company and owns all the stock of Tennessee Power Co., prac.
tlcally all tho common and $335,300 pref. stock of the Nashville Ry. A Lt.
Co. and practically all com. and pref. stocks o f Chatt. Ry. A Lt. Co.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $20,000,000 ($100)--------------------- $20,000,000 ..................
P f $50,000,000($100)6% cum
...
Q-M
10,250,000
See text
Secured notes S3.500.000] 1916 5 J-D
2.500.000 June 1 1918
($1 000)red at 100 & Int-c*\Baukers Trust C o., Now York, trustoe.
The secured notos wero issued to replace $2,500,000 ono-yoar 6 % note
participating receipts due June 22 1916 (V. 101, jp. 1015). They are tho
direct obligation o f tho company and are secured by $2,500,000 Tennessee
Power Co. tst 5s and $2,500,000 common stock o f tho Nashville Ry. *
Light Co. V. 103, p. 6 6 6 . On M ay 21 1918 holders o f the notes wero asked
to withhold presentation of same on Juno 1 1918 (whon thoy fell duo)
ponding action by tho War Finance Corp. on an application for a loan suf
ficient to provido for their payment. It having been found impossible to
sccuro from tho War Finance Corp. a loan In tho form applied for, the
management o f tho co. is working on plans for a satisfactory solution of
tho problem, ponding which interest corresponding to rates now paid on
similar Issues will bo paid from Juno 1 1918 on tho overdue notes. V. 106,
p. 2230; V. 107, p. 502.
,
Dividends.— Dividends at rate o f 6 % per ann. wero paid quarterly from
organization of co. to and incl. Juno 1914. None since.
EARNINGS.— Combined earnings of constituent companies (intcr-co.
items eliminated). Report for calendar year 1917 In V. 106. p. 2551.
Years endino
Gross
Net (after
Interest,
*Divs. on balance,
June 30—
Earnings
Taxes. «'ir).
%c.
Minor Stock. Surplus
1917-18............$5,551,567 $1,907,479 $1,546,138 $108,235 $253,106
2,049,440 1,413,311
108,235
527,894
1916-17______ 5,145,276
♦Dividends paid on stocks o f constituent cos. not owned by Tenn.
Ry.. L. & P. Co.
PROPERTY. AO.— The constituent cos. own and operate eloctrlo-llght,
power and traction properties in Nashvillo and Chattanooga, and tho elec
tric light and power systems In Cleveland and several smaller citios. A
number of other cities. Including Knoxville, Tenn., and Romo, Ga., are
under contract for electric servico.
, „ „ ,
„
OFFICERS.— Pres., U. M. Clark; V.-Ps . II. M . Byllesby, Geo. E.
Hardy and E. W . Clark; Sec. A Treas., G. L. Estabrook; Asst. Sec. A Asst.
Treas., William Lilloy and Jacob Ilekma. Under management o f E. W.
Clark A Co. M gt. Corp. V. 102, p. 1889; V. 103. p. 6 6 6 ; V. 104, p. 1265;
1894; V. 106, p. 1462, 2230, 2551; V. 107, p. 502.
(1) Nashville Railway & Light Co.— Street railway and lighting system.
$335,300 of the pref. and practically all of the common stock owned by
Tenn. R y., Lt. & Pow. Co.
•
ORGANIZATION.— Incorporated In Tennessee on June 26 1903. Is a
reorganization of the Nashvillo Railway Co., sold under foreclosure of tho
latter’s first consol, mtge. The Nashvillo Ry. was a consolidation In 1900
of tho Nashville Street Railway, the Nashville A Suburban and the Citi
zens’ Rapid Transit. Tho Nashville Ry. A Light Co. has absorbed the
Cumberland Electric Light & Power. Does practically all the street rail
way and commercial lighting and power business in Nashville. Franchises
perpetual; thoso covering tho principal railway linos contain a provision
giving tho city tho right to purchase after 1923.
STOCK AND BONDS—
Date. Interest.
Outstanding. Maturity
Common $4,000,000 ...($10 0) ............................. $4,000,000 .................
Pref 5% cum $2,500,000($100) ____
Q-J
2.500.000 July’ 18. IK
McG A M t V Horse HR lstM l 1886
6 J-J
65,000 July 1 1926
($100. $500 & $1.000)-e n tf (Nashville Tr. O o „ Trustco.
Second series ($1,000) .cntfl 1887
6 J-J
485.000 July 1 1937
(Nashville Tr. Co., Trustee.
Nashv A Edgefield consol M / 1889
6 J-J
274,000 Jan 1 1920
(closed) ($500A$1,000) entf lNashvllle Tr. C o., Nashvillo, Tonn., Trustee
Nashvillo St R y 1st mortgage! 1895
5 g J-J
907.000 Jan 1 1925
(closed) g ($1.000)— c*ntf (Nashville Trust C o., Nashvillo, Tonn., Trus
Nashv Ry & Lt consol M g( 1903
5 g J-J
4.110.000 July 1 1953
(closed) ($1,000).........c*tf llnterost at Guaranty Trust C o., N. Y.,Trus.
Nash Ry & Lt ref A ext mtgef 1908
5 g J-J
4,380,00u July 1 195s
$15,000,000 ($500
and(Int. at Guaranty Trust C o., N . Y ., Trustee.
$1,000) gold__________ c*tf I or at Nashville Trust Co.. Nashvillo.
bonds.— lnt. on both series of McGavock A Mt. Vernon Horse RR. bonds
Is payable at Fourth & First Nat. Bank, Nashville, and N . Y . fiscal agent.
Tho Nashville R y. A Lt. consols o f 1903 are subj. to call on any lnt. date on
30 days’ notice at 10714 and int. Sinking fund $30,000 per annum, com
menced Juno 30 1913, but only If company has a surplus above charges and
dlv. on pref. stock; bonds to be kept alive In sinking fund. lnt. on the
Nashvillo & Edgefield Consol. 6 s payable at office o f company In Nashville
or Hanover Nat. Bank. N. Y . Int. on Nashville St. Ry. bonds of 1895 pay
able at Mechanics’ Nat. Bank, N . Y. Of thonowrof. & oxt. bonds, $5.841.0 0 0 aro reserved for prior liens and remainder may be Issued at rate of $ 1 ,0 0 0
for each $1,250 expended for future iinpts. A equipts., not over $700,000 to
bo issued In any calendar year, and subject to certain other conditions.
Bonds cannot bo called. $676,000 of those reported outstanding arc hold
in tho treasury. Sinking fund of 44 of 1% o f outstanding bonds bogan
July 1 1918, bonds in sinking fund “boing kept alive. See particulars of
b0S & S _
,ii'v-. * • pref. stock— 244%— was paid Jan. 1 1905:
_W i , f & I n
on »•
then 244% semi-annually to July 1 9 1 0 . In Oct. 1910 changed to quarterly
and paid 1M % . and same amount quar. slnco to and lncl. July 1918. Com
mon stock Is practically all owned by Tenn. R y., Lt. & Power Co.
EARNINGS.— Years ending June. 30;
June 30
T ° ro?s
,
Net (after Interest, P r e fJ M v . Balance
A-c.
Surplus
Year—
Earnings.
Taxes).
$489,555 $125?000 $306,319
1917-18___________$2,566,877 $920,874
496,976
125,000
280,278
1916-17-- ...........- - - 2.431,587
902,254
______
______
_.
32,539,470 pass, carried in cal. year 1917, agst. 33,023,983 in 1916.
PROPERTY.— Operates 101.18miles of single track. Has 227 passenger
and 15 work cars. Hydroelectric power Is obtained on advantageous
terms from Uie Tennessee Power Co., which operates this company's steam
planks of 17.100 k. w. capacity as reserve.
69
OFFICERS.— Pres., C. M . Clark: V.-P., C. Gr. McMeen; V.-P. & Gen.
M gr., F. W . Hoover; Sec. & Treas., G. L. Estabrook.— V . 106, p. 602, 1461 (2) C hattanooga Railway & Light Co.
Tennessee R y.. Lt. & Pow. Co. owns practically all of the $3,000,000
common and $2 ,0 0 0 ,0 0 0 pref. stock.
ORGANIZATION.— Incorporated In Tennessee on July 29 1909 as a
consolidation of the Chattanooga Railways Co. and Chattanooga Electric
Co., per plan V. 8 8 , p. 1497. V. 89, p. 285. Own^ entire capital stock of
Lookout Mountain R y. Co. Does practically all the street railway, elec
tric light and power business in Chattanooga and vicinity, incl. the electric
lines up and on top of Lookout Mountain. Suburban lines run to Mission
ary Ridge. Ohickamauga Bark and Lookout Mountain. Franchises, with
minor exceptions, without limit of time and. according to decision of U. 9
Supreme Court, believed to be perpetual.
Strikes.— A strike begun Sept. 7 1917 because of the c o .’s demand to have
each employee sign a separate contract, was brought to an end Oct. 5 1917,
settlement being based on tho contract in existence at time of strike, with
amendments providing for arbitration of all future grievances. Each em
ployee was to sign his name to the contract, bearing also the signatures of
tho officers of tho union and of tho management of the co. V. 105, p. 1522.
Several weeks later the men struck again, being dissatlsfiod, it is alleged,
with the new employment contract and the c o .’s method or enforcement.
V. 105. p. 1707. On Jan. 25 1918 the strike was called off. V. 106, p. 497.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $3,000,000 ($100)..................................
$3,000,000
.............
Pref $2,000,000 5% cum($ 1 0 0 )___
Q-J
2.000.000
.............
First and refunding mortgage) 1909 5g M-N
2,395,000 M ay l 1956
$15,000,000 g ($1,000) cH fJInt. at Fidelity Trust C o., Phila., Trustee.
Ohatt Rys 1st cons mtge, seel
1906 5g M-N
2.165,000 M ay 1 1956
text ($500 A $1,000) g ,c * t f! Int. at Commercial T r.O o. Phila..Trust
Ohatt El Ry 1st M $625,000' 1898 5g J-J
625.000 Jan 1 1919
g not red ($1.000)—C*ntf (lnt. at Maryland Trust On., Balt.. Trustee
1-year gold notes, series “ C ,” f 1917 6 g J-D
750,000 June 1 1918
$1,000,000 ($1,000)—C.ntf\Penn. Co. for Ins. on Lives. &.c. Trustee.
.Start.— Pref shares equally with com. after com. has received 5% .
bonds.—The $3,000,000 Chattanooga Rys. mtge. has been closed call
able any lnt. date at 107 and Int. on 3 mas ’ notice. Of the 1st & ref. bonds
S2.790.000 are reserved for prior liens and $9,133,000 for ext., betterments
and Impts. at 85% of cost. $682,000 pledged as part security for Chatta
nooga Railway A Light Co. 6 % notes due 1918. Nosinking fund; callable
at 105 and int on any lnt. date on 60 days’ notice. Int. payable at Uodenpyl. Hardy A Co. and at office of trustee. V. 89, p. 846.
The 1-year notes can only be Issued to the extern, of 75% of the face value
of the bonds pledged as security. Interest payable at office of E. W.
Clark A Co.. Philadelphia. Pa. Secured by $682,000 Chatt. Ry. A Lt.
Co. 1st A ref. 5s and $1489.000 Lookout Mountain 1st M . 6 « Red at par and
int. on any int. date on 30 days’ notice. On M ay 25 1918 holders of the
notos wero asked to withhold presentation of same pending action by the
War Finance Corn, on an application for a loan sufficient to provide for
their payment. It having been found impossible to secure from the war
Finance Corp. a loan in the form applied for, the management of the co.
is working to roach a satisfactory solution, pending which interest corre
sponding to rates now paid on similar issues will be paid from June 1 1918
on tho overdue notes.
EARNINGS.— 12 mos. ending June 30:
„
,
June 30
Gross
Exp. O
r
Net
interest.
s >ffPj,u?
Year—
Earnings.
Taxes.
Earnings.
4r.
or Deficit.
1917-18______$1,552,084 $1,354,217 $197,867 $367,374 def.8169,507
1916-17______ 1.301,091
907,416
393,675
357,675
sur o6,000
17,406,644 pass, carried in cal. year 1917, agst. 18,336,619 in 1916.
ROAD.— Including Lookout Mountain R y.. operates 80 miles of
single track. Gauge. 4 ft. 844 In. T and girder rails. 84 motor. 12
trailers, 2 incline cable and 8 work cars. Power Is obtained from tho Ten
nessee Power Co., which operates this company’s steam power stations
of 5 0 0 0 k.w. capacity as a reserve station.
OFFICERS.— Pres., C. M. Clark; V.-Ps., S. G. McMeen, IT. L. Clark
and F. W . Hoover; Sec. A Treas., O. L. Estabrook; Asst. Sec. A Asst.
Treas., G. W . Buchanan.— V. 105, p. 1522. 1707; V. 106. p. 497, 1461.
(a) L ookout M ountain Railway Co.
ORGANIZATION.— Owns electric Hne on top of Lookout Mountain
and, through stock ownership, controls the Loogout Incline Co. (whose
stock and bonds are deposited under the company’s mortgage). Stock
all owned by the Chattanooga Railway A Light Co. Private right-or-way
except short piece of track on which franchise expires In 1926.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock ($500.000).... ......................... ..
.............
$509,908 ------1st mtge $2,000,000 ($1,000)1 1913
6 g M-N
389 .000 May 1 1956
Hold_________________c*tf(Philadelphia Trust C o.. Phila., Trustee.
bonds.— Lookout Mtn. Ry. bonds are red. at 105 and Int. on any lnt.
date on 60 days’ notice. $1,611,000 reserved for Impts.. Ac., at 85% of
cost of same. Bonds outstanding aro pledged as part security for Chatta
nooga Ry.. A Lt. 5% notes. Interest payable at offices of E. W . Clark A
C o.. Phila., and llodenpyl. Hardy A C o., New York.
EARNINGS.— Included in Chattanooga Ry. A Light Co. earnings.
ROAD.— Operates a cable road of 5.000 feet and has 9.8 miles of electric
road around and on top of mountain.
OFFICERS.— Pres., C. M Clark; V .-P .. M . S. Hopkins: Sec. A Treas.,
G. L. Estabrook; Gen. M gr.. F. W. Hoover.— V. 83, p. 323; V. 87. p, 226,
(3) Tennessee Power Co.
_
Stock all owned by Tennessee R y., Light A Power Co.
ORGANIZATION.— Incorp. In Tennessee on April 24 1912 as a consoli
dation of the Eastern Tennessee Power Co. and Great Falls Power Co.;
has also acquired the property formerly belonging to Sweetwater Elec. Lt.
Co.. Cleveland (Tenn.) El. Lt. Co.. Sparta Elec. Light A Power Co., and A.
A T. Power Co. Franchises.—The co .’s power plants are owned In fee
and Its transmission lines are on private right of war and therefore not
subject to franchise limitations. Franchises of distribution companies
aro favorable.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $20,000,000 ($100)_____— All owned by Tenn. R y.. Lt. A P. C o . First mtge $50,000,000 gold) 1912
5 g M-N $7,971,000 May 1 1967
guar.p A l ($1.000)—c*n tf(In t. at Bankers Trust C o., N . Y..Trustee.
bonds.— Of the remaining bonds, $3,975,000 are in treasury, all of which
are pledged as collateral on advances by tho Tenn. R y., Lt. A Power Co.
($2,500,000 being deposited under the Tenn. R y., Lt. A Power Co. collat
eral noto), $5 5 4 ,0 0 0 are reserved for permanent exts., add’ns and acquisi
tions, and $37,500,000 are reserved for exts., acquisitions and impts.
Sinking fund. 1% per ann. of bonds out, began M ay 1 1917; to be used for
extraordinary renewals, replacements or additions, enlargements and exten
sions; also for cancellation of bonds. Red. in whole or in part at 10744 & int.
on 12 week’s notice. See V. 95. p. 549. F. N. B. Close, N . Y ., is also trustee.
EARNINGS.— For years ending June 30:
1917-18. 1916-17.
1917-18.
1916-17.
Gross earns..$2,030,987 $1,883,220 Int. (less portion
ch’g’le to cap’l) $630,730 $523,622
Exp.,rents,tax. 1,278,571 1,141,755
$741,465
Surplus-----------$127,686 $217,843
N e t _______ $758,416
P ROPERTY, AO.— Owns water-power sites on the Ocoee River near
Parksvlllo, Tenn.. with an ultimate capacity of 80.000 h. p. Option has
been secured on sites for the development of 30,000 h. n. additional, and at
Great Falls, Tenn., owns a site capable of developing 80,000 h. p. Of the
development in operation. Ocoee No. 1, 18,750 k. w.. was put in operation
Jan. 1912 and No. 2. 15,000 k. w.. in complete operation Apr 1 1 1914.
A 13.000 k. w. steam plant at Parksville was placed in operation in July
tnd Nov. 1916, and a 10.000 k. w. h vdro-electric plant at Great Falls placed
In oper. Jan. 15 1917; also owns a 300 k. w. hydro-elec, plant at Sparta; total
capacity, 57,050 k. w. Power is also purchased from Chattanooga A
Tennessee River Power Co. Also owns 534 miles and leases 31 miles hightension transmission lines. Supplies practically all electric current used In
Nashvillo, Chattanooga, Knoxville, Murfreesboro, Cleveland, Athens,
Etowah. Sweetwater, Lenoir City. Loudon, Franklin and Sparta, Tenn.,
and Rome and Dalton, Ga. Has contract for large block of power with the
Aluminum Co. of America at Marvsville; also has contract with the Ameri
can Zinc Co. at Mascot. K.W . hours generated in 1917, 547,945.475 (of
which 84.6% water power and 15.4% steam) against 483,354,162 in 1916
(82% water and 18%. steam).
OFFICERS.— Pres., C. M . Clark; V.-Ps., G. E. Hardy, S. G. McMeen,
F. C. Walcott and F. W. Hoover; Sec., A Treas., G. L. Estabrook. Under
««a.vvien'out of K. W . Clark A Co. Mgt. Corp.. PhUa.— V. 98, p. 1618,1698.
70
ELECTRIC RAILWAYS
UNION TRACTION CO.
ORGANIZATION.— Incorp. in'/Tennessee on Oct. 12 1917 as successor
to the Nashvillo-Gallatin Interurban R y., sold at foreclosure Sept. 25 1917.
STOCK AN D BONDS.— Date.
Interest. Outstanding. Maturity.
Stock S300.000 ($100)...............................................
$300,000 ...............__
First M ($300,000) gold \ 1917
6 z J-D
300,000 Dec 1 1947
($500)__________ c*&r.cpt\Nashvillo Trust C o., Trustee.
Bonds.— Are callable on any interost date at 105.
EARN ING S.— For 3 mos. ending Dec. 31 1917, gross, $22,174; net, after
taxes, S3,644.
ROAD.— Operates 23 'A miles o f track between Nashville and Gallatin,
entering Nashville over tracks of Nashville Ry. & Light Co. 70-lb. T rails.
Standard gauge.
OFFICERS.— Pres, and Gen. M gr., H. H. Corson; V .-P., John A. Bell;
Secy, and Treas., Guilford Dudley.— V. 105, p. 1618, 1709.
N A S H V I L L E TRACTION CO~
This company late in 1914 Increased its authorized capital from $500,000
to $1,000,000 and is constructing a trolley line in Nashvillo. 4H milas
built, 2 miles In operation. 3 leased cars in service. In April 1915 It was
reported that the Detroit interests had sold their control. V. 100, d . 1349.
OFFICERS.— Pres., Waltor O. Palmer. Nashville; V.-P., W. H. Saw
yer (E. W . Clark Mgt. C orp.), Columbus, O.; Gen. Mgr., G. B. Howard.
Nashville.— V. 99, p. 1366; V. 100. p. 1349.
NATCHEZ, MISS.
SOUTHERN RAILW AY & LIGHT CO.—-Street railway,gas and electric
ORGANIZATION.— Incorporated in 1908 and took over Southern
Light & Traction Co. (V. 85. p. 1144), which was a consolidation of the
Natchez Electric Street Ry. & Power C o., the Natchez Light. Power &
Transit Co. and the Natchez Gas Light Co. Gas franchise perpetual; street
railway and electric lighting franchises expire in 1949. Does tho entire
street railway, gas, electric-lighting and power business of Natchez. Has
contract with city for street lighting which oxpiros in 1919.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $45,670 ($ 1 0 0 ) ............................................
$45,670 ............... ..
Sou Lt & Trac 1st M $500.-1 1903
5 g A -015
335.000 Apr 15 1933
000 gold ($1,000)------- c * tf/In t. at Inter-State Trust & Bkg. C o., New
lOrloans, Trustee, or at First Nat. Bk.. N. Y.
Bonds.— $160,000 are reserved for betterments and extensions. Are sub
ject to call at 105 and lnt. $5,000 have been retirod. See V. 76, p. 1086.
ROAD.— Operates 6 miles of track; 12 cars.
OFFICERS.— Pres., Frank J. Duffy, Natchez; V .-P ., E. H. Rated
Natchez: Sec. & Treas., J. W . Bllllngslov. Now Orleans.— V. 8 8 . p. 1591
NEWARK, N. J.
PUBLIC SERVICE CORPORATION OP NEW JERSEY.— Street
railway, gas and electric.— (See map on pages 80 and 81.)
ORGANIZATION.— Incorporated in New Jersey on May 6 1903 and
controls, through ownership of stock. Public Service Ry. C o., Public
Service Gas C o., Public Sorvice Elec. C o.. Orange & Passaic Valley R y. Co.
and United Elec. Co. of N. J. The stockholders of tho two cos. last named
and also the stockholders of certain of the cos. out o f which Public Service
Ry. Co. was subsequently formed (namely North Jersey Street Ry. C o..
Jersey City Hoboken S Paterson St. Ry. Co. and Elizabeth Plainf eld S
c
t
Central Jersey Ry. Co.) were given certificates described below In oxch.
for their stock. See plan In V. 76, p. 865 and also p. 1249. The Fidelity
Trust Co. o f Newark financed the transaction.
Controls practically the entire street railway business o f Northern New
Jersey and the gas and lighting interests of the greater part of Now Jersey.
Also owns entire capital stock of Middlesex Electric Light & Power C o.,
Morristown Gas Light Co. (V. 91, p. 95), Nichols Elec. Light S Power C o .o f
c
Nutley, N . J., Citizens’ Elec. Light,, Heat & Power Co. (Perth Amboy,
N. J.), Burlington Elec. Light S Power C o., Public Service RR. and Weec
hawken Contracting Co.; a majority of stock or Priucoton Light, Heat S
c
Power Co. and Shore Lighting Co. and practically all of the common stock
of New Jersey S Hudson River R y. S Ferry Co.
c
c
Merger of Subsidiaries.— In 1907 North Jersey Street R y. C o., Jersey
City Hoboken & Paterson Street Ry. Co. and United Street Ry. Co. of
Central Jersey were consolidated under tho name of Public Service Ry. C o.,
which see below. V. 85. p. 400 and 470. To Public Service Ry. Co. also
have been transferred tho leases of various railways formerly hold by Public
Service Corporation. On Dec. 28 1915 the merger of the Pub. Sorvice
Ry. and tho I’ . S. Nowark Terminal Ry. was ratified.
Iu Oct. 1909 all leasehold Interest In gas properties and all rights under
operating agreement with Plainfield Gas Light Co. were assigned to the
Public Service Gas C o., which seo bolow: also V. 89. p. 594, 721, 847.
In July 1910 all leasehold interest In electric light and power properties
were assigned to the Public Service Electric Co. V. 90, p. 1614.
Newark Terminal.— See Public Service Ry. below.
Fare Decision.— The U. S. Supreme Oburt on Juno 8 1914 affirmed the
decision of the Now Jersey Court of Errors and Appeals, holding that the
Chosen Freeholders of Hudsou County, N. J., had the right to reduce fares
to 6 cents per round trip on the Port Richmond (Staten Island) & Bergen
Point (N. J.) Ferry C o., which is owned by the Public Service Corporation.
After operating for a year under this rate, an Injunction was granted by
the U. S. Dist. Court and the 5-cent one-way fare restored as of Jan. 1 1916,
pending a hearing.
Fare Increases.— See Public Service Railway below.
Stock Increase.— On July 26 1910 auth. capital stock was increased from
$25,000,000 to $50,000,000. Shareholders o f record Oct. 2 1910 had the
right, to subscribe for $5,000,000 o f the new stock pro rata at par. V. 103.
O . 1119. 2239.
Sub. Co. Bus Service.— On April 17 1918 tho company’s subsidiary, tho
N. J. Transportation C o., commenced the operation of 18 motor buses
from. Hamburg Placo and Gotthart St., Nowark, to tho shipbuilding
plants at Port Nowark Terminal, fare being 5 cents.
Port Newark Extension.— Seo Public Serv. Ry. below and V. 106, p. 1689.
Tunnel for Vehicles.— For report on feasibility and value o f tunnel for
motor trucks between 12th St., Jersey City, and Canal St., N. Y. City,
loe V. 104. p. 1593. 1703.
Government Advance.— In Sept. 1918 it was reported that tho co. had
received from tho Govt, a total appropriation of $2,317,895 for extensions,
to be used as follows: Now traction lines to Newark Bay, with additional
cars, $21,739; exts. in traction lines at Camden and Gloucester City, incl.
33 cars, ext., to elec, lines, &c., $1,240,780, and for elec.construction and
development work for tho N. Y. Shipbuilding Corp. at Yorkshlp Villago,
Gloucester City, $215,000, and for new electric feeders and other work at
Kearney, S39.586. V. 107, p. 1197.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Stock $50,000,000 ($100).................
Q-M 30 $29,999,600 Juno ’ 18.2%
Trust certificates $20,200.0001 1903 6 M-N
*20.050.770 Perpotual
ntf/Fldelity Trust C o., Newark, Trustee.
General mortgage$50,000,000 f 1909
5 g A-O
50.000.000 Oct 1 1959
gold (S1.000) s f ______c * tfjln t. at Fidelity Trust C o., Newark, Trustee,
( or at office of J. P. Morgan S Co.
c
Three-year coll notes $7.500,-{ 1916
5g M S
7,500.000 Mar 1 1919
000 gold ($ 1 ,0 0 0 )-.-----c ’ /Fidelity Trust C o., Phila.. Pa., trusteo.
Bills payable Sept. 1 1918 . . ___
- ...........
«7,021,000 .............
•Or which $867,485 owned by the Corporation.
a Includes a $2,000,000 6 % note secured by $2,500,000 Gen. M . 5s, due
1959; $1,000,000 6 % notes secured by $2,000,000 Pub. Serv. Elec. Co.
stock; a 4 14% note for $81,000 secured by $90,000 U. S. 2d Liberty Loan
bonds; a 4!4% note for $90,000 secured by $100,000 U. S. 3rd Liberty
Loan bonds; $3,250,000 other 6 % notes.
Stock.— The stock listed on N. Y. Stock Exchange.
Bonds.— The trust certirs. bore 2% lnt. (dating from June 1 1903) the first
two years, 2 1 4 % the third year, and increased by 'A % each following year
until 6 % was reached In the tenth year, which is the rate now paid. See
V. 80. p. 164- The following shows tho 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
Certifi- I f All Stock
. —
_
_
Stock.
Deposited, cates. Exchanged.
•North Jersey Street R y.......$15,000,000 $14,994,400 40% $6,000,000
•Jersey City noboken St PatFy r
,
-.A— 20’000.(T O 19.984.600 35%
O
7.000.000
•Elizabeth Plainfield S Cen
c
tral Jersey Ry. C o............... 3.000,000
3,000,000 30 %
900,000
Orange & Passaic Val. Ry. C o1 .0 0 0 ,0 0 0
923.500 30%
300,000
United Electric C o---------------- 20,000,000
19,60-1,500 30%
6,000.000
............- - - - - - - - - - — .— - - ------ - ------- - - - ...............$2 0 .2 0 0 .0 0 0
• Now merged In Public Service Railway C o., which see below.
[V ol . 107,
The trust deed provides that the stocks pledged shall not be used so as to
Increase the capital stock of any of the companies nor to create any new
Ileus upon the respective companies except to take up existing debt of any
such company or of underlying or subsidiary companies.
$50.009,000 Mortgage.— Of tho $50,000,000 bonds reported outstanding,
$1,370,000 have been purchased by tho sinking fund and $12,500,000
are treasury bonds, $ 1 0 ,0 0 0 ,0 0 0 thereof being deposited as collateral
to tho 3-year collateral gold notes duo March 1 1919 and $2,500,000
as collateral to a $2,000,000 note. For security of bonds see V. 89. p. 1348;
V. 90, p. 698. Redeemable as a whole (but not in part) on any interest
date beginning Oct. 1 1919. at 105 and lnt. Commencing Aug. 1 1913, an
annual sinking Tund payment of $209,500 draws bonds at 105 and lnt.
Bonds are listed on N. Y. and Phila. Stock Exchanges. V. 91, p. 717;
V. 92, p. 1179; V. 93. p. 1191.
P
As collateral to the notes of 1916 are deposited $10,000,000 Public
Service Corporation general mortgage 5s. Notes are red. at par and lnt.
ou any lnt. day. I’ rin. and int. payable without deduction for any taxes
required by any present or future law of tho U. S. or of any State, county or
municipality, not including, however, tho normal Federal incomo tax.
V. 102, p. 977.
D i v i d e n d s . — First div. of 1% was paid June 29 1907; 1% was paid Sept. 30
1907 and 1% Dec. 31 1907. In 1908.4%. In 1909.414%. In 1910,5% .
*n V & i *0 191,4 - ? % ' T In 191-5’
In 1916, 7 H % . In 1917, 8 %.
In 1918, March, 2% ; June, 2% .
REPORT.— For cal. year 1917, report in V. 106, p. 1454, 1467.
Gross Earnings—
1917.
1916.
1915.
1914.
Railway company.........$19,494,678 S18.255.614 $16,638,142 $16,379,310
Gas company................. 12,954,256 11,911,626 10,764,878 10.555,556
Electric company........... 15,240,114
12,898.004 10.487,281
9,340,749
Total gross earnings..S47.6S9,048 $43,065,304 $37,890,301 $36,275,615
Oper. expenses S taxes.$30,539,369 $25,863,854 $22,094,6781$19,892,708
c
Amortization charges_
\ 1,303,609
Total expenses............$30,539,369 $25,863,854 $22,094,678 $21,196,317
Net earnings................... $17,149,679 $17,201,450 $15,795,623 $15,079,298
P. S. Corp. of N. J. inc.
from secure, pledged S
c
from misc. sou rces...
1,729.865 1,802,536
2,351.809
2,484,645
Total income...............$18,879,544 $19,003,986 $18,147,432 $17,563,943
Deduct—
lnt. S rentals of leased S
c
c
controlled companies.$12,299,838 $11,963,114 $12,209,215 $12,097,110
Fixed chgs. P. S. C o rp ..
4,202,307 4,099,005
3,960,965
3,841,496
Other deductions...........Cr. 117,161
Cr.5.826
124,947
42,248
Divs. I>. S. Corp. stk— (8 ) 2399,968 (7 J4) 1937500 (6)4) 1562500 (6)1,500.000
Balance, surplus..........
$94,593 51.010,193
$283,805
$83,089
OFFICERS.— Pres., Thos. N . McCarter; V.-Ps., Randal Morgan, An
thony R. Kuser, Percy S. Young, E. \V. Wakoloo; Sec., Percy Ingalls;
Treas., T. W. Van Middleswortli; Comp., Wm. S. Barker.— V. 106 n.
1462, 1467, 1689, 2011, 2451, 2650; V. 107, p. 83, 402, 1197.
PUBLIC SERVICE ELECTRIC CO.
Controlled by Public Service Corp. by ownership of entire capital stock
except directors’ shares.
ORGANIZATION.— Incorporated In New Jersey on June 13 1910.
Leases.— In July 1910 Public Service Corp. assigned to Public Service
Electric Co. the leases of United Elec. Co. of N. J ., Middlesex Elec. Light S
c
Power C o.. Weohawken Contracting C o., Nichols Elec. Lt. St Power Co. of
Nutley. N. J., and Citizens’ Elec. Light, Heat S Power Co. and the electric
c
properties or South Jersey Gaa, Elec. S Trac. C o., The Patorson St Passaic
c
Gas S Elec. C o., Somerset Union 9c Middlesex Lighting Co. and The Gas
t
& Electric Co. of Bergen County. Also leases Burlington El. Lt. & Pow.Co.
Olnnamlnson Elec. Lt., Pow. S neatlng Co. and Bordentown Elec. C o.,
c
and electric properties of Princeton Light, Heat S Power Co. and Shore
c
Lighting Co. In addition leases and operates the powor stations owned by
Public Service Ry. Co.
R a t e I n c r e a s e . — In Feb. 1918 tho N. J. P. U. Comm. auth. an increase of
25% in wholesale and certain rotail power rates as a "war emergency
measure.’ ’
In July 1918 the Comm, held that tho Increased power rates wero applic
able to all consumers regardless of existing contracts. V. 107. p. 8 6 .
STOCK.— Auth., $50,000,000 (Increased from $30,000,000 In May 1917);
outstanding, $30,000,000, all owned (except directors' shares) by Public
Service Corp. No bonds. Real estate intges., $312,033.
PROPERTY, &C.— On Dec. 31 1917 had 18 generating stations with a
capacity of 265,348 k. w., and 65 sub-stations; 835 miles or transmission
lino and 155 miles of conduit. Motors, 159,131. Numbor of street arc
lamps, 10,073, and street incandescent lamps, 31,376. K. w. hours sold In
1917, 371,509,459. Total connected load in k. w., Dec. 31, 1917, 367.021.
OFFICERS.— Pres., Thos. N. McCarter; V.-Ps., Edmund \V. Wakeloe
and Percy S. Young; V.-P. St Gen. M gr., Farloy Osgood; Treas., T. W.
Van Middlesworth; Sec., Percy Ingalls.— V. 106, p. 1132; V. 107, p. 8 6 .
United Electric Co. of New Jersey.
ORGANIZATION.— Organized March 4 1899.
Lease.— Leased July 1 1907 for 999 years to Public Sorvice Corporation.
In July 1910 lease assigned to Public Service Electric Co. Under the
lease tho $400,000 surplus cash assets of company wero divided and a
special dividend of 5% was paid Juno 29 1907 (V. 85, p. 44). Rental is
3% for two years, 4% for next two years and 5% thereafter. V. 85, p. 44.
public Service Corporation owns $19,604,500 of this company’s stock and
$083,000 of its first mortgage bonds.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity,
Stock$20.000.000...............................
J^J
$20,000,000
Seo text
First mtge $20,000,000 gold! 1899
4 g J-D
18,017,500 June 1 1949
($500 and $1,000) ..c * .n t f /ln t. at N. J. Title Gu. S Tr. C o.. J. O., T his .
c
Coil Lt Heat St Pow $1,000,-1 1898
5 g J-D
308,000 June 1 1938
000 ($500) gold...............tf/In t. a tN . J. Title Gu. & Tr. C o., J. O ., Trus.
Nor Hudson Lt Heat S Powf 1898
c
5 g A-O
367,000 Oct 1 1938
$2,000,000 ($1.000)----- tf/In t. at N. J. Title Gu. S Tr. C o ., J. O ., Trus.
c
Bonds.— In addition to the above there are $115,000 Con. Lt., lit. S Pow.
c
bonds in hands of trustee. Int. on 1st mtge. is guaranteed by Pub. Serv.
Corn., which also agroes to provide for payment of prln. by extension, re
funding or otherwise. V. 90, p. 114. First mtge. bonds are reserved to re
tire Con. Lt., Ht. S Pow. ana North Hudson Lt., lit. Sc Powor Bonds.—
c
V. 85. p. 44. 288. 415; V. 90, p. 114, 1 1 0 0 ; V. 93, p. 414; V. 94. p.987.
,
Middlesex Electric Light & Power Co.
ORGANIZATION.— Is a consolidation of Cartaret Electric Light <
&
Power Co. and Middlesex Lighting Co. Was leasod May 1 1908 for 999
years to Public Service Corp. for an annual rental of 5% ou stock and Int
on bonds. Lease assigned to Public Service Electric Co. In July 1910.
Stock all owned (except directors' shares) by Public Sorvico Corporation,
which also owns $2 1 ,0 0 0 of the first mortgago bonds.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock ($200.000).....................................................
$175,000
........
First mortgage ($200,000)1 1905
5 g J-J
181,000 Jan 1 1955
gold----------------------------- tf/FidoUty Trust C o., Newark. Trustee.
Bonds.— Of the bonds, $19,000 are reserved for improvements.
Nichols E lectric Light & Power Co. of Nutley, N. J.
ORGANIZATION.— Incorp. In N. J.Jan.3 1896. Stock $25,000 ($50);
all owned by Public Service Corp except directors’ shares. No bonds. Was
leased May 1 1908 for 999 years to Public Servlco Corp. (lease assignod to
Public Serv. Elec. Co. in July 1910) for an annual rental of 10% ou stock.
W eehawken C ontractin g Co.
ORGANIZATION.— Incorp. in N. J. M ay 9 1904. Was leased on
Jan. 1 1910 for 999 years to Public Service Corp for bond lnt and 6 % on
prof stock
Lease assigned in July 1910 to Public Sorvico Tiloctrlc Co
Stock all owned by Public Service Corp , oxcopt directors’ shares
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock com $70,000 ($50)................................ ..........
$70,000
Pref $41,050 ($50).....................................................
41.050 " . ' I ' " ’
First mortgage $30,000 gold/ 1908
6 g F-A 20
30,000 Fob 20 1928
($250)---------------------- c*tf\Interest at Weohawken Trust C o., trustee.
Citizens’ Electric Light, Heat & Power Co.
Leased to Public Sorvice Corp. June 15 1910 for 999 years, and In July
1910 lease assignod to Public Servlco Electric Co.; rental equivalent to
1 0 % on capital stock.
ORGANIZATION.— Incorp. in New Jeraoy on Mar. 1 1905. Stock
•uth., $125,000 ($25): outstanding, $41,400 (ntf), all owned by Public
Service Corp. except $225 in hands of public, lncl. directors’ shares.
Se p t ., 1918.]
ELECTRIC RAILWAYS
B urlington Electric Light & Power Co.
ORGANIZATION.— Incorporated Oct. 6 1888 In New Jersey. Public
Service Oorp. owns entire issue of stock, except directors shares. Stock
....u cor non
outstanding. $17,550. No bonds. Leased for 900
y££s from M a y 11911to Public Seri. El. Co. at a rental of $2,250 per ann.
Clnnim inson Elec. Light. Power & Heating Co. of R iverton. N. J.
ORGANIZATION.— Incorp. N ov. 28 1892 and leased to Public Service
Elec Co. April 1 1914 for 46 years at a rental consisting of the amount
necessary toP
mainta!n the corporate organization of the lessor, the interest
•n bonded indebtedness of lessor, and $100 P
®
=
All stock ($50,000 authorized and $20,000 outstanding) and bonds
($40,000) owned by Riverside Traction Co.
ORGANIZATION.— Incorp. May 28 1912, and Is leased to Public Serv.
Elec. Co. April 1 1914 for 46 years for $100 per annum and amount neces
sary to maintain corporate organization ot the lessor. . ll the $50,000 auth.
A
and outstanding stock of this company is owned by the Riverside Traction
Co. No bonds.
,
Paterson & Passaic Gas & Electric C o -----Somerset Un. & Middlesex Ltg. C o - - - -----See below under Public
S outh Jersey Gas, Elec. & Traction C o —
Service Gas Co.
Gas & Electric Co. of Bergen C ou n ty------Shore Lighting C o ----- — ------ -a —...........
Princeton Light, Heat & Power C o ---------Controlled* by^ PubHc^eiwice^Corporation by ownership of entire capital
^"ORGANIZATION3—
^Incorporated In New Jersey and was created by
a s ? ’* ® ! * j y M i s s * s r
The Hass Newark Gas Light V _____ . Hudson County Gast.ha uuiu r>f Smith
Co. and
Co., and, In so far
m o East rsewara u ®
i
aenOm inty1 V 89 p. 594. 721*. Operating agreement between Plainfield
S m flffht Co and Public Sorvico Corp. was also assigned to the Public
S
ServiceGas Co
Also leases the Ridgewood Gas Co. and Morristown Gas
Light Oo.^ and the gas prooertios of Princeton Light. Heat & Power Co.
& Stwk,rS3^',000.MOi S l3,600,000 outstanding all owned by Pub.Ser.Corp.
D
eA tock wTu bo IssuwT(V. 89. p. 594) from time to time at par to Public
Service Corp. only for cash or for Improvements at actual cost thereof.
Rafe^educh^n1—'A^eptlng^theorder of "the Board of Public Utility Commtoioners^made on Dec. 27 1912. the company reduced its rates in the
v * 0 6 hn0l136 ? UV
alidity of order was upheld on J ly7 1913 b the New Jor
u
y
sav Supreme Court (V. 97, p. 238), but on appeal to the Court of Errors
and Anneals the decision of tno former was reversed on Dec. 9 1914 b a vote
y
of 6 to 4. V. 99, p. 1749. On June 14 1915, however, the Court of Errors
reversed Its decision of Dec. 9 1914 b the same vote, and sustained the
y
finding of tho lower Court upholding the order. V. 100. p. 2086. The
company appoalcd to the U. S. Supreme Court but in 1917 the case was
dismissed upon th c o 's request.
o
, „ ..
...
Tho Court also reversed Its decision dismissing the appeals of the cities
of Passaic and Paterson, which sought to have an 80-cont rate put Into orrect.
In Oct. 1917 the N. J. Bd. of P. U. Comm, denied the petition of the
gas companies in the State for the fixing of a lower heating standard for
**RateV
Increasf.— On March 1 1918 tho Board of P. U. Comm. auth. the
comnanv. as a “ war emergency measure,” to add a surcharge of t cents per
1 000 cu. ft., making tho total rate 97 cents per 1,000 cu. ft.; also to with
draw all rates under 65 cents per 1,000 cu. ft.
Dividends.— Initial div.— 2% — paid Doc. 31 1909. In 1910. 2V*%. In
1911 and 1912. 8% . In 1913, 6% . In 1914. June, 4% ; Dec.. 4% .
Practically all of stock Is owned by the Public Service Corp. and dividends
are no longer reported.
OPERATIONS, icO.— Sold 13,610,865 M cu. ft. of gas during 1917; on
Dec. 31 1917 had 3.089 miles of mains and 516,745 moters in sorvice.
OFFICERS.— Same as for Public Service Electric Co. except that II. D.
Whitcomb Is tho V.-P. and Gen. Mgr.— V. 106, p. 506. 612, 1132.
Essex & Hudson Gas Com pany.
.
ORGANIZATION.— Incorporated In Nov. 1898 in New Jersey and.on
Dec 1 1898 assumed the lease of Newark Consol. Gas Co. to United Gas
Improvement Co. for 999 years from Dec. 1 1898. Essex & Hudson Gas
Co was leased to Pub. Service Corp. for 900 years from June 1 1903 and
liase assigned Oct. 1 1909 to Public Sorvico Gas Co. Under lease, div. rate
is now 8% pot annum. Stock auth. and outstanding, $6,500,000 ($3,255,
600 was owned by the United Gas Impt. Co. on Dec. 31 1917). V. 67, p.
1002, 1100; V. 107, p. 406.
Newark C onsolidated Gas Company.
.
ORGANIZATION.— Incorporated N ov. 30 1898 In Now Jersey. Con
anlidntlon of Newark Gas Co., Montclair Gas Jc Water C o., Summit Gas
? ivht Co People’s Gas Co. of Irvington and Clinton Gas Co. Owns entire
ranital stock of Orange Gas Light Co. and practically all the stock of The
Newark Gas Light Co. Leasod all Its property to United Gas Iranrovement Co. of Phlla., Pa., for 999 years from Dec. 1 1898, and on same
date lease was assigned to Essex Sc Hudson Gas Co. and by last-named
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock $6,000,000 ($100).........- ................................$6,000,000
Seo text
Newark Cons Gas cons mtgef 1898
5 g J-D
6,000,000 Dec 1 1948
$10 OOO.OOOg($1.000)c*ntf\Int. K Fidelity Trusto C o., 7Bf» Anntltrustee.
/vn \» ^ j fx r\ r r n( 1 0 0 at n r\ ▼
r\ \\
nnn Newark, 1 ^ 9 4 4
71
Morristown Gas Light Co.
ORGANIZATION.— Incorporated in New Jersey on Feb. 19 1855.
Leased to Public Service Gas Co. for 999 years from July 1 1910. Rental
eaual to 5% per ann. on outstanding capital stock. Stock out., $387,5uu
($100), all owned by Public Service .Corporation, except directors shares.
No bonds.
p aterson & Passaic Oas & Electric Co.
This company was leased to Public Service Corporation for 900 years
from June 1 1903. Under lease, div. rate was gradually Increased and is
now 5% per annum. In Oct. 1909 gas part of lease assigned to Pub c
Service Gas Co. and in July 1910 electric part of lease assigned to Public
^O R G A N IZA T IO N .— Inc. Feb. 28 1899. Is a consolidation of the vari
ous gas and lighting properties of Paterson and Passaic.
.
Public Service Corporation owns $269,700 of the stock. On Dec.^ol
1917 tho United Gas Impt. Co. owned $3,252,000 of the stock.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
J-D
$4,999,516 - - - - - - - - -
Stock$5,000,000 ($100)....................
Cons mtge $5,000,000 gold? 1899
5 g M-S
4,049,000 Mch 11949
($1.000)___________ c*n tf Int. at First Nat. Bank, Paterson, or F int
National Bank, New York.
Edison Electric 111 1st mtge 1895 5 g J-J
585,000 July 1 1925
$600,000 .........- ............ntf\Paterson Safe Dep S Trust Co , trustee.
c
Passaic Lighting Co cons mtg 1895 5 g M -N
316.000 M ay 11925
$450,000
...................tf(Guaranty Trust C o., trustee.
Passaic Gas Light 1st mtgef 1892
6 g J-D
50,000 June 1 1922
$50,000
- ______ntflPaterson Savings Institution, trustee.
Bonds.— Of the new $5,000,000 mtge. of 1899. $951,000 is reserved for
underlying liens. Tho bonds are not subject to call. The Paterson Safe
Deposit & Trust Co. is trustee.— V. 107, p. 403.
Somerset Union & Middlesex L ighting Co.
ORGANIZATION.— Incorporated in New Jersey on Dec. 1 1903 in the
Interest of Public Service Corporation, as a consolidation of Somerset Light
ing Co. or Somerville, N. J.; Plainfield Gas & Electric Light Co. of P W «field, N. J., and Citixens’ Electric Co. of North Plainfield (V. 78. p. 107).
On Dec. 30 1903 Central Elec. Co. was also merged In the same. Public
Service Corp. owns $422,400 of the stock, $573,182 Som. Un. & Mid. Ltg.
Co. bonds. $21,000 Somerset Ltg. Co. 1st 5s and $20,200 Cent. El. Co. 5«.
LEASE.— The co. was leased to Pub. Serv. Corp. for 900 years from
Dec. 31 1903 on tho following terms, viz.: All interest, expensos and
taxes to be paid by Public Service Corporation, and. as rental, a dividend
on the stock accruing as follows: From Dec. 1 1905, 1% :Dec- 1
114%; Dec. 1 1907, 2% : Dec. 1 1908, 214%: Dec. 1 1909. 3% ; Dec. 1 1916.
314%; Dec. 1 1911 and thereafter, 4% . So much of lease as relates to
manufacture and distribution of gas has been assigned to Pub. Serv. Gas Co.;
remainder of lease applying to electric properties has been assigned to
Public Service Electric Co.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
_
_
J-D
$1,050,000
See text.
m-nrk *i O 000 (1100)
^rt
lomerset Un & Mid Lt C o'M f 1903
4gJ-D
1.974.372 Dec. 11943
$2.750,0 0 0 ($ 1 .0 0 0 )g-c*ntf\lnt. at Fidelity Tr. C o., Newark, Trustee.
.w o
< * -» ,„
■ m
u
m
rr.t.frt. "on nno
tf; Guaranty Trust C o., New York, Trustee.
Someraet Mghting~ Co ~first [ 1899 \ F-A
150.000 Feb 1 1939
mortgage $150.000------- tf l Fidelity Trust C o.. Newark .Tiruste».
Cent Elec connowlstM $750,-1 1900
5 g J-J
750.000 J
1
000 ($500 & $1,000) g .c* tfiIn t. at Fidelity Tr. C o.. Newark, Trustee.
Bonds.— $1,128,372 of the 1903 bonds have been issued In exchange for
the stocks of the companies consolidated and $346,000 for extensions and
improvements; $503 Is reserved for Central Electric stock not 7®*
(the company having previously obtained tho remainder of the $fu 0 ,0 0 e
total stock of that company), $775,000 to retire the underlying bonds and
$125 for future additions and improvements. No sinking fund, and bonds
cannot bo called. Central Electric bonds are subject to call at 110 and int.
V. 78, p. 107; V. 107, p. 84.
S outh Jersey Oas, Electric & T ra ction Co.
This company was leased to Public Service Corp. for 900 years from
June 1 1903 (at a graded rate of dividend, the maximum of 8 % per annum
haring been reached in the eighth year) .and on Oct. 1 1909 so much of the
lease as relates to the manufacture and distribution of gas was assigned to
the Public Service Gas Co. Its Unction business is leased to tho Public
Service Ry. Co. and its electric business Is leased to Public Service Electric
Co. Public Service Corp. owns $3,507,000 of South Jersey Gas. Electric
S Traction first mortgage 5s.
c
ORGANIZATION.— Incorporated Aug. 31 1900 to bring under one con
trol the gas. electric light and trolley Interests In Southern New Jersey.
Also owns the entire capital stock ($600,000) of the Camden Gloucester
* Woodbury Ry.. which has been leased to Public Service R y. Co.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock 46 000 000 ($100)
________
J-D
$6,000,000
See text.
I r t m t e e $ i 5 ^ . 0 0 0 ‘ gold/ 1903
5 g M-S
12,892,000 Mch 11953
($1 000)
c*ntf\Int. at Fidelity Tr. C o., Newark,N.J..Trust.
Trenton G&ElTst M $2,000.-} 1899
5 g M-S
2,000.000 Mch 1 1949
000 gold ($1.000)_______t flln t. at Equitable Trust C o., N. Y ., Trustee.
Burlington Gas Lt Co 1st M l 1901
5 g M -N
W0.000 Alay 1 1921
S100 000
- _______ ntfl Int. at Burl. City L. & T . C o.. Burl., Trust.
Bonds.— Of"the new $15,000,000 issue. $2,108,000 are reserved to retire
prior liens. No sinking fund and bonds cannot be called.— V. <6 . p. 332.
1144, 1250; V. 78, p. 1449; V. 8 6 , p. 1530; V. 95, p. 1685, V. 105, p. 1314.
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, except directors
shares. Int. on bonds is paid by Public Service Gas Co. through lease of
The Gas Light Co. of New Brunswick. See latter company below.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
fltrw'k * 0 0 0 (S100)
- - ____
J-J
$400,000
See text.
F tet m Re $.W0.000 goid( 1899
4 g J-D 15
500.000 Dec 15 1939
($500 and $1.000)..-C*ntf\lnt. at Fidelity Trust C o., Newark, trustee.
(a) T he Gas Light Co. of the City of New Brunswick.
ORGANIZATION.— Incorporated on Mar. 18 1851. Stock authorized
and outstanding. $100,000. alt owned by New Brunswick L t^ Ht. & Power
Co. except directors’ shares. Was leasod to the Public Service Corp. for
900 years from Jan. 2 1905 (June 1 1906 lease aligned to South Jersey
f
_ _ __________ r
_
_______ _______
are re Gas, Elec. & Trac. C o.), rental being payment of int. on bonds of New
served to retiro underlying liens. J. William Clark, M . L. Ward and J. Brunswick Lt.. Ht. it Pow. Co. and dlvs. on stock of Gas Lt. Co. of City ef
New Brunswick, as follows: 2% in each of the years 1905 and 1906, 214%
O. H. Pitney are trustees for the Newark Gas 1st 6 s.
in 1907 and 1908, 3% in 1909 and 1910. 3 !4% in 1911. 4% In 1912. 414 %
T ho East Newark Gas Light Co.
In 1913 and 6 % In 1914 and thereafter. The company Is now controlled
This company was leased to Public Service Corporation for 999 years from by Public Service Gas Co. by reason of assignment of lease of gas propertlaa
8 «pt. 1 1909 for annual rental of 6 % on stock, and lease assigned Oct. 1 1909 of South Jersey Gas, Electric S Traction Co.
c
tu Public Sorvice Gas Co.
O R G A N I Z A T I O N . — Incorporated In N e w Jersey.
Stock $60,000 ($26);
Oas & Electric Co. of Bergen C ounty.
all out- no bonds. All of tho stock (except directors’ shares) is ownod by
LEASE.__Was leased to the Public Service Corp. for 999 years from
Essex & Hudson Gas Co. and Newark Consolidated Gas Co. Operates Jan. 1 1905. Dividends are 2% for first two years, 214% for the next
infllarrison. Kearney. Arlington. North Arlington and East Nowark
year 3% for the next two years, 4% for the next four years and 5% there
after. Oct. 1 1909 so much of lease as relates to manufacture and disHudson C oun ty Gas Co.
trlbutlon of gas was made over to Public Service Cas Co. and In July 1910
T h i s c o m p a n y w a s le a s e d t o P u b li c S e r v i c e C o r p o r a t i o n f o r 9 0 0 y e a r s
lease of electric properties was assigned to Public Service Electric Co.
fro m J u n o 1 1903.
O c t . 1 1 90 9 le a s e w a s a s s ig n e d t o P u b li c S e r v i c e G a s C o .
ORGANIZATION.— Incorp. May 31 1899. Is a consolidation of several
U n d e r lease, d i v i d e n d r a t e is n o w 8 % p e r a n n u m .
O n D e c . 31 1917 t h o
U n it e d G a s I m p t . c o . o w n e d $5,300,500 o f t h o s t o c k .
small gas aud electric-light companies. Public Service Corp. owns $955.
O R G A N I Z A T I O N . — Incorporated in New Jersey in October 1 8 9 9 . and
000 of general mortgage No. 2 bonds.
Is a consolidation of tho various gas plants in Jersey City and Hoboken.
On June 10 1918 issued S700.000 5% Gen. Mtge. No. 2 bonds.
STOCK AND BONDS—
Date. Interest. Outstanding. Maturity.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity_
________ - $2,000,000
See text.
Stock $ 10,500.000 ($100).................................... - - - $ 10,500,000 .................... Stnck S‘> 000 000 ($100) - _ - ____
M
"
T s m o o o f 1904
5 * M -N
38.000 Nov 1 1954
Firet mortgage $10,500,000 1899 5 g M -N
10,500.000 Nov 11949
K 1,1
0
...................... ntf\N. J. Title Gu. ic Tr. C o., Jersey City, trust.
gold ($1,000)
_______ tf (Equitable Trust C o., N. Y ., trustee.
PLANT.— Controls all gas plants In Jersey City, Hoboken and Bayonne. Gen mtge N o .2 $5,000.000t ff 1904
5 M -N
3.271 000 Nov 1 1954
'.Fidelity Trust C o.. Newark, Trustee.
— V 78, p. 770; V. 84, p. 1555; V. 107, p. 407.
Consolidated mortgage $ l,-i 1899 5 g J-D
1.443,000 June 11949
Ridgewood Gas Company.
500 000 gold
_______ ntfl Fidelity Trust C o., Newark, trustee.
O R G A N I Z A T I O N . — I n c o r p o r a t e d A p r i l 24 1900.
Is le a s e d t o Public
EnglewG &°E 1st mtge. - n tf - 1899 5 J-J
23.000 Jan 1 1939
S e r v i c e G a s C o . f o r 999 y e a r s f r o m J u l y 1 1910 a t r e n t a l o f $2,000 p e r a n n .
H u k g £ * E l Senm tgeJntf - 1895 5 J-J
1 0 .0 0 0 July 1 1935
Interest. Outstanding.
Maturity
p. STOCK AND BONDS— Date.
Hack G L 1st M ($1,000) en tf 1894 6 J-J
24.000 July 1 1984
$ 1 0 0 ,0 0 0
Bonds.— Of the general mortgage for $5,000,000, $1,538,000 Is reserved
FhSt*mortgage VlOO.OOO'ntf? 1900
5 J-D
'lOOiOOO Juno 1 1925 to retire prior liens and $191,000 for additions and Improvements. The
First mortgage
,
Wnt. at Equitable Tr. C o.. N. Y .. trustee.
Second mtgo $100»000---ntf f 1905 _ 8 5 , 0 0 0
April 1 1925 gen mort , of which the Equitable Trust Co. Is trustee was superseded
BC
C
\Int. at Fidelity Trust C o., Newark, Trustee. by tho similar mtgo. of which Fidelity Tr. Co. is trustee. V. 106, p. 1130.
73
ELECTRIC RAILWAYS
Shore Lighting Co.
^ £ , ? . ? . A ^ I Z A T K N — J ,n c o r P ° r a t e d M a r c h 2 1 1 9 1 1 In N e w J e r s e y a n d is a
c o n s o iid a t o n o f S h o r e E le c . O o .. S e a B r ig h t E le c . L t . C o . a n d C itiz e n s '
L t . & * uel C o . o f S o u th A m b o y .
$ 1 0 4 ,9 0 0 o f s t o c k o w n e d b y P . S . C o r n .
T h e e le c t r ic p r o p e r t ie s h a v e b e e n lo a s e d t o P u b . S e r v . E le c . O o . a n d t h e
g a s p r o p e r t ie s t o I u b . S e r v . G a s G o . ; t h e le a s e s a r e f o r 9 0 0 y e a r s f r o m M a y 1
*
p r o v id e fo r p a y m e n t o f in te r e s t o n b o n d s a n d a m o u n t e q u iv a le n t
t o 5 % p e r a n n u m o n t h e a u t h o r iz e d s t o c k .
8 to c IT n 2 A
0OTD ($ni 0 0 ) D- S ~ . . D a l e l
In tereS t'
° Un i 2 d
OOO
M a tU r ilV '
F 15 l tc ™ ,? r t g a g e J^ O O .O O 'd g o l d ? l 5 I l
5 g A -O
4 0 0 ’. 0 0 0 A p r i l V 1 9 5 I
( $ 5 0 0 ) ------------------------------------- t f l i n t , a t F i d e l i t y T r . C o . . N e w a r k . N . J . . t r u s t .
Issu e d t o t a k e u p $ 3 4 1 ,5 0 0 S h o r e E le c t r i c
C o . b o n d s a n d $ 5 8 , 5 0 0 t o t a k e u p $ 4 0 , 8 0 0 O i t . L t . Sc F u e l C o . b o n d s : a r e
g u a r . , p r i n . Sc I n t . , b y P u b l i c S e r v i c e C o r p . — V . 9 2 . p . 1 6 4 0 .
P r in c e to n
L ig h t .
H eat
&
P ow er
n J ° , 1 9 1 0 P u b lic S e r v ic e C o r p . a c q u ir e d c o n t r o l.
S e r v ic e C o r p . o w n s $ 1 1 6 ,8 5 0 s t o c k .
C o.
V . 91. p . 399.
P u b lic
. „ O B i<
2.A w I Z A 7 i 2 N -— I n c o r p o r a t e d i n ' N e w J e r s e y o n J u l y 3 1 1 9 0 5 a s a
c o n s o lid a t io n o f P r in c e t o n E le c . L ig h t W o r k s , P r in c e t o n G a s L ig h t O o . a n d
.
o S l e c - , L t - . H e a t Sc P o w . C o .
E le c t r i c p r o p e r t i e s h a v e b e e n le a s e d
t o P u b . S e r v . E le c . C o . a n d g a s p r o p e r t ie s t o P u b . S e r v . G a s C o . , t h e le a s e s
n o ln g f o r 9 0 0 y e a r s fr o m M a y 1 1 9 1 1 , a n d p r o v id in g fo r p a y m e n t o f I n te r e s t
o n b o n d s a n d a m o u n t e q u iv a le n t t o 2 % p e r a n n . o n o u t s t a n d in g s t o c k .
stocIT a so w
$ m ) D . S 7 _ - . D . te:
B
N
- { n t e r e s t \ 0 u Z t % dt i X ‘
M a C u rU « 1 s t r e f m t g e $ 2 5 0 ,0 0 0 g o l d s f J 1 9 0 9
5 g F -A
17 L 5 0 0 F e b " 1 * 1 9 3 9
($ 1 0 0 , $ 1 ,0 0 0 o r f r a c ) . c * t f ( l n t . a t E q u it a b le T r u s t C o . , N . Y . , tr u e to o .
K U ar- ;.P - *
g a n i n ^ O l O — v n (9 i n tp
^
by
9
* 0°
/
uu R A IL W A Y
26 s
f i
i h
K
N o l S
P u b . S erv. C orp .
R ed. on any
* ro sa e a r n in g s o f c o m p a n y b e -
C O .— (S e e m a p o n p a g e s 8 0 a n d 8 1 .)
,C e O o r t , o r a t , o a ‘ b r o u g h o w n e r s h i p o f a l l b u t
M ^ , ° T A ^ I Z ^ ;r l ° ^ - 9 f g a n ‘z e d A u ? - 3 0 1 9 0 7 M a c o n s o lid a t io n o f th e
N o r t h J e r s e y S t r e e t R y . C o . . J e r s e y C i t y H o b o k e n Sc P a t e r s o n S t . R y . C o .
8 V R ? v £ ° ' o f O o n ®r a l J e r s e y . V . 8 5 . p . 4 0 6 . F o r b a s i s o f e x
c h a n g e o r s t o c k s o f th e s e c o m p a n ie s f o r s t o c k o f n o w c o m p a n y , s o o th is S e c
S 2 /
N o r t h J e r s e y S t . R y . in J a n . 1 8 9 8 a b s o r b e d th e N e w a r k
S t ® 0 - io r m D g ? ‘* J b , ? J e r s e y C i t y H o b o k . Sc P a t e r s o n w a s a c o n s o l i d a t i o n In
J ii
, t l J,0J 0 ll ? w ln ^ : J e r s e y C i t y H o b o k e n Sc R u t h e r f o r d E l e c . R y .
C o .. P a ils a d e s R R . C o . . P a t e r s o n C e n t r a l E le c . R y . C o ., P a te r s o n H o r s e
f i " . x S c . F a te r s o n P a s s a ic & R u t h o r fo r d E le c . R y . C o ., S a d d lo I ilv o r T r a c .
V n °e l Y f h l t K L u ° , T , ,a c ' C o . . f o r m e r l y t h e N e w J e r s o y E l e c . R y . C o .
r
In
a b s o rb e d P a te rso n R y
C o . and N orth n u d so n C o . R y . O o.
C e n t r a l J e r s e y w a s a c o n s o l i d a t i o n In J u l y 1 9 0 7 o f
BJLZ^ , r J a 'V fle l(I , * , G .oni r a ! i 0 r s 0 y R y > ° o . ( w h i c h w a s c h a r t e r e d i n 1 9 0 0
K l f e C ni j ° i i a t 0T ? i° ^
j2
0h i S t . R y . C o . a n d o t h e r c o m p a n ie s ) a n d E liz a to o ^
B iv e r S tr e e t R y . C o . (w h ic h w a s a c o n s o lid a t io n o n A p r il 3 0
19u , 4 u ° , H d d l e s o x & S o m e r s e t T r a c t i o n C o . a n d E a s t J e r s o y S t r e e t R y . C o .
X b l0 b la t t e r c o m p a n y h a d p r e v io u s ly a b s o r b e d R a r ita n T r a c t io n C o . .
P e r th A m b o y R R . C o . a n d E a s t J e rs e y T r a c tio n C o .)
war, k
I ’r r m jn a L — O n
D ec.
28
1915
s to c k h o ld e r s
r a tifio d
th e
5 ^ gt3 L ( ?)p E T ? v 2 d b 7 * h o B o a r d o f P . U . C o m m . ) o f t h e P u b l i c S e r v i c e R y .
*|Pd t b « P u b l i c S e r v i c e N e w a r k T e r m i n a l R y . u n d e r t h e n a m e o f t h o f o r m e r
th r o u g h a n e x c h a n g e o f s to c k , sh a re fo r sh a re, e ffe c tiv e J a n . 191 0 .
The
T e r m in i}1 R y . C o . w a s in c o r p o r a t e d in A p r il 1 9 1 3 t o c o n s t r u c t a n o f f i c e a n d
t e r m in a l b u ild in g a n d a p p r o a c h e s In t h e h e a r t o f t h o b u s in e s s s e c t io n o f
i a < 0r j ? < C r & t , o n o f . P r o p e r t y s e o V . 1 0 0 , p . 2 0 1 1 . )
m
?
T h o e n tir e
p r o p e r t y Is le a s e d f o r 5 0 y e a r s f r o m d a t e o r o c c u p a n c y t o t h e P u b l i c S e r v ic e
N y ‘ G o : ) , „ ^ n „ wah , c h t h e c o . w a s s u b s e q u e n t l y m e r g e d ) . P u b l i c S e r v i c e G a s
u b l l c S e r v i c e E l e c . C o . f o r a r e n t a l n o t le s s t h a n a s u r a s u f f i c i e n t
t o p a y th e ta x e s , w a te r r a te s , m a in t e n a n c e a n d I n te r e s t a n d s in k in g fu n d
5 « f ! w n w i n e n *: 8 / ? n ®b e 1 s t M . b o n d s .
T h e te r m in a l w a s o p e n e d fo r s tr e e t
r a i l w a y o p e r a t i o n o n A p r i l 3 0 1 9 1 0 ; o f f i c e s o c c u p i e d In J u l y 1 9 1 6 .
P la n s
& r. « h d u ? t h e c o m p a n y s t e r m i n a l f a c i l i t i e s w i t h t h o s o o f t h o H u d s o n &
M a n h a t t a n R R . a ro u n d e r c o n s id e r a tio n .
See V . 104, p . 765.
a
? T U ,o n t o a b o v e , P u b l i c S e r v ic e R y . l e a s e s C o n s o lid a t e d T r a c t i o n O o . ,
“ o u t h O r a n g e & M a p l e w o o d T r a c t i o n C o . , B e r g e n T u r n p i k e C o . , O r a n g e Sc
n O '* G a m d e n & S u b u r b a n R y . C o . , C a m d e n G l o u c e s t e r
J e r s e y & H u d s o n R iv o r R y . & F e r r y C o . a n d
K 1v e r s l d e >T r a c t i o n C o . , w h i c h c o m p a n i e s s e e b e l o w .
A ls o o w n s a ll s t o c k
o r ir e o p ie s E le v a t in g O o .
191r ? ^ t e r m in a l s t a t io n a t S ip A v e . , J e r s e y C i t y , c o n n e c t
in g w it h t h e P e n n . R R . s t a t io n a n d a ls o w it h t h e t u n n e l s t a t io n t h e r e .
A te r m in a l s t a t io n a t H o b o k e n c o n n e c t in g w ith th o D . L . & W . R R .
s t a t io n a n d a ls o w it h t u n n e ls t e r m in a t in g t h e r e w a s .o m p l o t e d in M a y 1 9 1 0
S a le o f B e r g e n T u r n p i k e .— S e o B e r g e n T u r n p i k e O o . b e l o w .
F e e t / n t> a li d .- — T h e S u p r e m e C o u r t o f N e w J e r s e y O c t . 2 1 1 9 1 1 s e t
5 5 « o e a 5 n v a d a.n o r d i n a n c e o r t h o C i t y o f P a t e r s o n I m p o s i n g a l i c e n s e f e e
o r $ 2 5 f o r e v e r y t r o lle y c a r o p e r a t e d w ith in t h e c i t y lim it s . A s im ila r o r d lE a ? c^ w a s P a s s e d b y t h o H o b o k e n C i t y S e r v i c e C o m m , o n A u g . 4 1 9 1 5 .
b u t th o c o m p a n y h a s o b t a in e d a w r it o f c e r tio r a r i a n d th e S u p r o m e C o u r t
w ill r o v ie w t h e o r d in a n c e .
n J £ m ?s
/vlr P e<d ^ » n - —- O n J u n e 2 1 1 9 1 2 C o u r t o f E r r o r s a n d A p p e a l s a f 0 TT?<l,'firei; ? ° C o u r t o n D e c . 2 6 1 9 1 1 , w h i c h s u s t a i n e d t h e
f
u o .T f T i . b o B u b lic U t ilit y C o m m , r e q u ir in g th e c o m p a n y t o c o n t in u e th o
i s s u e o f t r a n s f e r s t o a l l i n t e r s e c t i n g l i n o s in N e w a r k , b u t d i d n o t g r a n t t r a n s rera o n a tr a n s fe r .
G n Ju|y 1 2 1 9 1 8 t h o N . J . P . U . C o m m , t u r n e d d o w n t h o c o . ’s
a p p lic a t io n fo r a u tli. t o in c r e a s o fa re s fr o m 5 t o 7 c e n t s a n d t o c h a r g e 2 c e n ts
n S d i tli0 n a l f ? r t r » n s f e r s i s s u e d o n c a s h f a r e s , a n d 1 c e n t f o r e a c h t r a n s f e r
011 a t r a n s f e r b u t a u t h . t h o c o . t o c o l l e c t a w a r s u r c h a r g e o f l c e n t ,
e f f e c t iv e A u g 1 1 9 1 8 , o n in it ia l t r a n s f e r .
V . 1 0 7 , p . 1 8 2 , 102.
C om p aro
1037- 1J45, 1462.
T h o c o . is r e q u i r e d t o s u b m i t a p la n f o r a n
e q u it a b le z o n o s y s te m b y J a n . I 1 9 1 9 .
V. 107. p. 402.
O n A u g . 6 1918
a n o t h e r a p p l ic a t io n f o r a u t h . t o c h a r g e 7 c e n t s o n a ll lin e s w a s m a d e t o t h o
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V . 107, p .
T ? £ ° l lr $ i e w a r k E x t e n s i o n . — A s & r e s u l t o f a c o m p r o m i s e w i t h t h o E m e r g e n c y
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b u r g I la c e , N o w a r k . t o t h o s h ip y a r d s o f th o S u b m a r in e B o a t C o r o , w a s
c o m m e n c e d o n A p r il 12 1 9 1 8 .
t a r e s o n t h is e x t e n s io n a r o 5 c e n t s , it b o in g
c o n s id e r e d a s o p a r a te z o n o , m a k in g a 1 0 -c o n t fa r o fr o m th o c e n t r e o f N o w Tn r w
id w , 1 %
l b « e x t e n s io n w a s p u t in o p e r a t io n o n S o p t . 1 1 9 1 8 .
L>^ o ' 1 9 1 7 t h e , N - J . P . U . C o m m . a u t h . t h o c o . t o I s s u e $ 1 2 5 0 , 0 0 0
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W a g e I n c r e a s e .— V . 'l 0 5 , p . 1 3 1 0 : V . 1 0 7 , p . 5 0 2 .
e . ®
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IP e n n . C o . f o r I n s . o n L . & G . A . . T r u s t e e
C a r tr u s t c e r tific a te s . S e r D . I 191 7
5 M -N
7 9 2 ,0 0 0
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R e a l e s t a t e m o r t g a g e s ................P h U a d ^
h l a T r u s t C o ..5 P h ila ..t r u s t e e
a I n c l . $ 1 8 , 4 0 0 r e s e r v e d t o r o t l r o o u t s t a n d i n g s t o c k o f c o n s o l i d a t e d c o s * ." "
7 hie
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K I kiV J o ™ a.n d ? ' n k i a * f u n d b y e n d o r s e m e n t , j o i n t l y a n d s e v e r a l l y , b y t h e
P u b lic S e r v ic e R y . C o . a n d P u b lic S e r v ic e C o r p . o f N e w J e r s e y .
Sinkina
{ f t * e r J n n e 0l ' 0| 09 n a ? U n ‘.y b 0 g i ° n l n « A P r t l 1 5 1 9 2 0 .
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c a r s a n d m a t u r e $ 4 4 ,0 0 0 s .- a . M a y 3 1 a n d N o v . 3 0 .
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OF
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JE R SE Y
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R Y ,
„ „ „ , D a le.
I n ter es t.
O u tsta n d in g .
M a tu rity .
* 1 5 .0 0 0 .0 0 0
1898
4 g M -N
$ 1 5 ,0 0 0 ,0 0 0 M a y 1 1 9 4 8
g o l d ( $ 1 , 0 0 0 e a c h ) --------------t f | B a n k e r s T r u s t C o . , N e w Y o r k , T r u s t e e
t
,
(I n t e r e s t a t F id o lit y T r . C o . , N e w a r k , N . J .
O f t h e 1 st m t g e . b o n d s , $ 7 ,2 3 0 ,0 0 0 a r e o w n e d b y P u b li c S e r v ic e C o r p .
(Vol. 107.
S E C U R I T I E S O F J E R S E Y C I T Y H O B O K E N Sc P A T E R S O N S T . R Y .
r
,
„
„
, D a te .
In ter es t.
O u tsta n d in g .
M a tu ritu .
J er C ity H o b o k e n & P a te r -f 1899
4 g M -N
$ 1 4 ,0 0 1 ,0 0 0 N o v 1 1 9 4 9
I 8® m ® ^0 . g o l d
$ 2 0 ,- I n t e r e s t a t N e w J e r s e y T /t le G u a r a n t e e &
T r u s t C o ., J e rso y C it y , T ru s te e .
0 0 0 , 0 0 0 ( $ 1 , 0 0 0 ) -------- c * n t f [
B o n d s o f C o n s t i t u e n t C o s .—
N o rth
H u d son
C ou n ty
R y l 1888
5 J -J
2 ,9 9 8 ,0 0 0 J u ly 1 1 9 2 8
c ? ,n s o l ( n o w 1 s t ) m o r t g a g e ) I n t . a t F i r s t N a t . B a n k . H o b o k o n .
E . A .
S to v e n s a n d S . B . D o d , tru ste e s.
$ 3 , 0 0 0 , 0 0 0 -------------------- c * n t f l
N o r H u d O o R y im p t m t g e / 189 4
5 M -N
1 ,2 9 1 ,0 0 0 M a v 1 1 9 2 4
$ 1 . 2 9 2 . 0 0 0 ( $ 1 . 0 0 0 ) .............t f 1 I n t . a t F i d e l i t y T r u s t C o . . N e w a r k ^ T r u s t e e
W e e h a w k e n E x t e n s io n M o r t -J 1 8 9 5
5 F -A
1 0 0 ,0 0 0 F e b
1 1945
R a g e $ 1 0 0 , 0 0 0 ------------------ n t f l F i d e l i t y T r u s t C o . , N o w a r k , T r u s t e o .
P a terson R y C o n M fn o w ls t ) f 1891
6 g J -D
1 ,2 5 0 .0 0 0 J u n e 1 19 3 1
R $ 1 ,2 5 0 ,0 0 0 ($ 1 ,0 0 0 ) c t f l C o l u m b l a T r u s t C o . . N l Y ^ T r u s t e o .
P a« n n ° n n ^ y ? n d « e n “ O '1
®) ® » 9 4
5 A -O
3 0 0 ,0 0 0 O c t 1 1 9 4 4
a ® a n y tim e lF id e lit y T r . C o ., N e w a r k . N . J ., T ru s te o .
( $ 5 0 0 a n d $ 1 , 0 0 0 ) _____ c n t f l
_
• $0f 9 3 9 J K )0 J . O . H . & P . f i r s t 4 s a r e r e s e r v e d f o r p r i o r l i e n s .
O f t h e J . O . H . & P . b o n d s o u t s t a n d i n g , $ 1 ,4 9 8 ,0 0 0 a r e o w n e d b y P u b . S e r v .
C orp .
T h e 2 n d 6s o f th e N o r t h H u d s o n C o u n t y R y . e x p ir e d M a y 1 1 9 0 4
b u t w e r e e x to n d e d u n til M a y 1 1 9 2 4 .
See V . 7 8 , p . 1392.
T heso bonds
?rr 0 n 5 d e e m ,a b l 0 a t 1 1 0 a n d , n t - o n a n y , n t - d a t e v - 7 8 , p . 1392.
S e e a ls o
™ . - 9 V R t , l 6^6 4 ’ ‘ 8 9 9 .
T h e W e e h a w k e n E x t e n s io n m t g e . b o n d s w e r e d u e
o
'o 1. 1 8 1 6 ? i * ® ^ r 2 e x t e n d e d f o r 3 0 y e a r s .
V . 100, p . 399.
T h o P a te rso n
R / ; 2 d g e n . M . 6 % b o n d s fe ll d u e O c t . 1 1 9 1 4 b u t w e r e e x t e n d e d f o r 3 0 y e a r s
at 6 % .
V . 9 8 , p . 1993; V . 9 9 , p . 1053.
R e d . A p r il 1 1931 a n d o n th e fir s t
d a y o f a n y s u c c e e d i n g O c t . o r A p r i l b y P u b l i c S e r v . R y . O o . In m a n n e r
p r o v id e d in m o r t g a g e .
S E C U R IT IE S O F U N IT E D S T . R Y . C O . O F C E N T R A L J E R S E Y .
B o n d s o f C o n s titu e n t C o s .—
D a te .
I n ter es t.
O u tsta n d in g .
M a tu ritu .
E l i z P l a i n Sc C e n t J e r m t g e f 1 9 0 0
5 g J -D
$ 2 ,1 0 0 ,0 0 0 D e c
1 1950
$ 2 .5 0 0 ,0 0 0 ( $ 1 .0 0 0 ) g .c * n t f( I n t e r e s t a t F id e lity T r u s t O o .. N e w k
N o s f Sc c a n n o t b o c a l l e d I
T ru stee.
P la in fie ld S tr e e t R y fir s t m t g f 1 8 9 2
5 J -J
1 0 0 ,0 0 0 J u ly 1 1 9 2 2
( $ 1 ,0 0 0 ) C a l l In 1 9 0 4 - c * n t f I n t . a t F i d e l i t y T r u s t C o . N ^ a r k , T r u s t e e .
E l i z a b e t h Sc R a r i t a n R I v S t f 1 9 0 4
5 g M -N
1 ,5 0 0 .0 0 0 M a y 1 1 9 5 4
R y g e n M $ 3 ,5 0 0 ,0 0 0 — t f 1F id e lit y T r u s t C o . , N e w a r k , T r u s t e o .
B r u n s w ic k T r a c M g ($ 1 ,0 0 0 )1 1 8 9 6
5 g J -J
5 0 0 .0 0 0 J u ly 1 1 9 2 0
C a n n o t b o c a l l e d -------- c * n t f j F i d e l i t y T r u s t C o . , N e w a r k , T r u s t e e .
M id d le s e x * S om ersot T ra c g I 1900
5 g J -J
1 ,0 0 0 ,0 0 0 J a n
11950
M $ 1 ,6 0 0 ,0 0 0 ($ 1 ,0 0 0 ) c * n t f l l n t . a t F id e lit y T r u s t C o . , N o w a r k . T r u s t e e .
K t^nr>J o r .sj ) y l i ® m ® ? 6 * 5 0 0 . - / 1 9 0 4
5 g M -N
5 0 0 ,0 0 0 M a y 1 1 9 4 4
0 0 0 g o l d g u a r p Sc I
--------t f 1 P e r t h A m b o y T r . C o . . P e r t h A r o h o y . T r u s t .
™ n ‘? e i ° i t2 l , s s u e ° r . K1i z - E ! a ! n - * C e n t - J o r - R y - C o - b o n d s d a t e d
1 9 0 0 , $ 1 0 0 ,0 0 0 is h o ld t o p r o v id e f o r l i k e a m o u n t o f P la i u f le ld S t r e e t R y . O o .
bon ds.
See V . 7 1 , p . 1310.
O f E U z . & R a r ita n R iv e r S tr o o t R y . O o .
g e n . m t g e . o f 1 9 0 4 , $ 2 ,0 0 0 ,0 0 0 a r o r e s o r v e d t o r e t ir e p r io r lie n s . P u b . S e r v .
C o r p . o w n s $ 1 5 4 , 0 0 0 E l i z . P i . Sc C e n t . J e r s . 5 s a n d $ 2 7 4 , 0 0 0 E l i z . & R a r .
K lv e r S t. R y . b o n d s .
D b fir fe n r f* -— F i r s t d i v . — 2 - 3 % — p a i d D e c . 3 1 '0 8 : i n ’ 0 9 . D e c . , 2 % ; i n ' 1 0 .
« % : L i i ' D <S "
l n ,1 2 * C o e . , 1 ) 4 % : i n ' 1 3 , D e c . . 1 ) 4 % : In ' 1 4 .
D e c ., 1 X % .
P r a c t ic a lly e n tir e s t o c k o w n e d b y P u b lic S e r v ic e C o r p o r a t io n
a n d d iv id e n d s n o lo n g e r r e p o r t e d .
R O A D , & c .— O w n s (in c lu d in g P u b li c S e r v ic e R a ilr o a d ) 5 3 5 .2 5 0 m ile s
f ir s t m a in t r a c k , 2 9 7 .6 1 2 m ile s 2 d m a in t r a c k a n d t u r n o u t s a n d 5 8 .3 7 2 m ile s
o f c o n n e c t io n s , lo o p s , y a r d tr a c k , & c .
T o t a l , 8 9 1 .2 3 4 m ile s o f t r a c k .
6 0 2 o p e n a n d 1 ,7 9 3 c lo s e d c a r s .
P a s s o n g c r s c a r r ie d in 1 9 1 7 , 4 7 6 ,9 7 4 ,9 8 3 , o f w h ic h 3 6 1 .1 8 7 ,7 8 2 w e r e
r e v e n u e a n d 1 1 5 ,7 8 7 ,2 0 1 t r a n s f e r s a n d p a s s e s .
In 1916, 451 698 012
of
w
•
9
wo r e r e v e n u e a n d 1 0 9 ,4 9 2 ,0 1 9 t r a n s fe r s a n d p a s s e s .’
O F F I C E R S .— S a m e a s f o r P u b lic S e r v ic e E le c . C o . , ex cep t, t h a t i t . E ,
D a n f o r t h i s t h o V . - P . Sc G e n . M g r — V . 1 0 7 , p . 1 8 2 , 4 0 2 , 5 0 2 , 6 0 4 , 6 9 1 7 8 0 3 .
(1 ) C o n s o l i d a t e d T r a c t i o n C o m p a n y .
I n c o r p o r a t e d M a r . 15 1 8 9 3 .
O n J u n e 1 1 8 9 8 le a s e d t o N o r t h J o r s e y
8 t r e o t R y . fo r 9 9 9 y e a r s , a n d le a s e h a s n o w p a s s e d t o P u b li c S e r v . R y . C o .
V . 66. p . 1141.
V a l i d i t y o f I e a s o w a s a f f i r m e d in F e b . 1 9 0 2 ( V . 7 4 , p . 3 8 0 )
a n d a g a i n in F o b . 1 9 0 3 .
V . 76, p. 382.
v
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D iv id e n d s u n d e r le a s e a r e n o w 4 % p e r a n n u m .
„ 8TO O K A N D BO N D S—
D a te .
S t o c k a l p a id in ($ 1 0 0 )
- ......................
U n d e r l y i n g b o n d s — s e o b e l o w . _____
I n ter es t.
O u tsta n d in g .
J -J 15
$ 1 5 ,0 0 0 ,0 0 0
_____________
7 .3 0 8 n n n
M a tu ritu .
S ee tex t.
F l n n o mt « i t ^
g o l d $ 1 5 ' 0 0 0 ; ; i r 1? 9 3 ,
! 5 . 0 0 0 ’. 0 0 0 J u n 'o " l ' l 9 3 3
0 0 0 ( $ 1 , 0 0 0 ) - - --------------------t f l I n t e r e s t a t B a n k e r s T r . C o . , N . Y . , T r u s t o e .
T h e g o ld b o n d s o f 1 8 9 3 a r e s e c u r e d n o t o n ly b y m o r t g a g e , b u t a ls o b y
d e p o s it o f $ 1 ,0 0 0 ,0 0 0 s t o c k o f J . O . & B e r g e n R R . , $ 1 6 1 ,0 2 5 s t o c k o f
N e w a r k P la n k R o a d C o . , $ 6 ,0 0 0 ,0 0 0 s t o c k N e w a r k P a s s o u g o r R y . a n d $ 9 9 ,
1 0 0 s t o c k o f J e r s o y C i t y H a r r is o n & K e a r n e y R y . C o .
R O A D .—-O p e r a t e s a b o u t 1 9 0 m ile s o f t r a c k , in c lu d in g t h e N . J . T r a c t io n
C o . , N e w a r k P a s s e n g e r R y . , J . O . Sc B e r g e n R R . , P a s s a i c Sc N e w a r k E l o c .
T r a c . C o . , J . O . H a r . & K . R R . a n d N e w a r k P la n k R o a d , a ll o f w h o s e
s tock s are ow n ed .
) c k , d e b t s a n d m ile a g e o f t h e le a s e d a n d c o n t r o l l e d lin e s :
m
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S to ck .
F u n d e d d eb t.
N o w J e r s e y T r a c t i o n C o ----------------------------------N o n e
$ 5 0 0 ,0 0 0
N o w a r k P a s s e n g e r B y . ......................................... 8 3
6 ,0 0 0 ,0 0 0
$ 6 '. o b b ', 6 5 o
R a p i d T r a n s i t S t r e e t R y ............................... . . 1 2
5 0 4 ,0 0 0
500 000
J e r s o y C i t y & B e r g e n R R ....................................4 1 ) 4
l.O O IL O O O
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J e r s o y C i t y H a r r i s o n Sc K e a r n e y R y _____ 1 0
* 1 0 0 .0 0 0
N e w a r k P l a n k R o a d ..................... ......................... 4 4 - 5
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P a s s a i c & N e w a r k E l e c t r i c T r a c t i o n _____ 1 0 H
1 ,0 0 0 ,0 0 0
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4 0 ,0 0 0 s h a r e s
* O n t h is $ 1 8 ,0 0 0 h a s b e e n p a id in .
(a ) J e r s e y C it y & B e r g e n R a ilr o a d .
R O A .D .— O w n s f r o m J e r s o y C i t y t o B e r g e n P o i n t , S e c ., t o t a l t r a c k , 4 1 ) 4
m ile s .
C o n t r o lle d b y C o n s o lid a t e d T r a c t io n C o . , a ll t h e s t o c k b e in g d e P O sR ed a s p a r t s e c u r it y fo r t h o T r a c t io n C o . 1st m o r t g a g e .
STO C K A N D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu r ity .
S t o c k ------------------------------------------------------------------------__ s i . 0 0 0 00 0 f -n
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J w ,r f„0 0 ) m L — 7 - - v - - . 0 * n t , t j in ® - a t B k r a . T r . O o . . N . Y . . o r l s t N a t . B k . , J . O .
B o n d s .— 'T h e b o n d s ( o r i g i n a l l y 7 s ) m a t u r e d J a n . 1 1 9 0 3 , b u t w o r e e x
te n d e d as 4 )4 s fo r 2 0 y e a rs fr o m th a t d a te .
( b ) N e w a r k P a s s e n g e r R a il w a y .— E le c tr ic .
O R G A N I Z A T I O N .— I n c o r p o r a t e d J u n e 16 1 8 9 0 .
O n J u ly 2 9 1 8 9 3
le a s e x l t o N e w J e r s e y T r a c t i o n f o r 9 9 9 y e a r s , a n d s o c o n t r o l l e d b y t n e C o n
s o lid a t e d T r a c t io n C o . o f N e w J e r s e y , N . J . T r a c t io n O o . h a v in g b e e n le a s e d
1 0 iG i?
i7 rA ) r T ? i * 2 1 8 9 4 f o r 9 9 9 y e a r s . C h a r t e r s a i d t o b e p e r p o t u a l .
'P a»
L E A S E A N D R E N T A L . — R e n t a l u n d e r th e le a s e , $ 1 0 5 ,0 0 0 y e a r ly
STO C K A N D BO N D S—
P ar.
I n ter es t.
O u tsta n d in g .
V M a tu rity .
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$ 6 ,0 0 0 ,0 0 0 O w n .b y O .T r
N e w a r k P a s s R y 1 s t c o n s M l 1 ,0 0 0
5 g J -J
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1 8 9 0 $ 6 ,0 0 0 ,0 0 0 g o l d . c ’ t f N . J . T l t l i G u a r . & T r u s t C o . ? T r u s t e e
T h e $ 6 J ) 0 0 . 0 0 0 s t o c k Is a l l d e p o s i t e d a s s e c u r i t y f o r t h o C o n s o l i d a t e d
T r a c t io n O o . fir s t m o r tg a g e .
I n t e r e s t o n c o n s o l . 5 s is p a y a b l e a t F i r s t N a t i o n a l B a n k , J o r s e y C i t y .
T h o c o n s o l s a r e g u a r . p . Sc i . b y C o n s o l . T r a c . C o . a n d In F o b . 1 8 9 5 t h e
g u a ra n ty w a s sta m p e d o n b o n d s.
V . 59, p . 969: V . 81 , p . 900.
R O A D . — E m b r a c e s a b o u t 8 3 m ile s o r t r a c k .— V . 8 1 . p . 9 0 0 .
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s t rr e e t R a i l w a y C o . o f t h e C i t y o f N e w a r k .
G R G A N IZ A I IO N .
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0 9 0 y e a r s , a n d i n c l u d e d w i t h i t in le a s e t o N e w J e r s o y T r a c t i o n , a n d s o
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S T O C K , B O N D S , E T C .—
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5 g A -O
5 0 0 ,0 0 0 A p r il 1 1 9 2 1
S u b j . t o c a l l a t 1 1 0 Sc i n t . l i n t , a t F i d e l i t y T r u s t C o . , N e w a r k , T r u s t o e .
D iv id e n d s o f 1 1 ) 4 % y e a r ly a r o g u a r a n t e e d b y t h e N o w a r k P a s s e n g e r a n d
N e w J e r s o y T r a c t io n c o m p a n ie s u p o n th o s t o c k .
(d ) P a s s a ic & N e w a rk E le c t r ic T r a c t io n C o .
. .
^ V T t O N . — I n c o r p o r a t e A p r il 3 0 1 8 9 5 a n d a c q u ir e d a ll th e
$ 1 ,0 0 0 ,0 0 0 s t o c k o f P a s s a ic & N e w a r k E le c t r ic R y .
C o n s o lid a t e d T r a c t l o n O o . o w n s a ll t h e s t o c k a n d g u a r a n te e s th e b o n d s .
—
D a te.
In ter es t.
O u ts ta n d in g .
M a tu rity .
S t o c k $ 1 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ................ .......................................
$ 1 ,0 0 0 ,0 0 0
I S ® M *L O G O ,O O O K u a r p & I ? 1 8 9 7
5 g J -D
5 5 0 ,0 0 0 J u n e 1 *1 9 3 7
b y C o n s o l T r a c o f N J ____t f 11
—
...........
Int. at N . J. ------- G u .& T r., Jorsey C ity .True.
T itle ~
./
v /ia u * o u irtaislewood T r a c t io n C o.
his com I *1I ) \1Is.was i loased on O ct.\ 1 1903— . North Jorsey St. R y . O o. (now
pany t l n n i l a n D tt
to
(VfVl
_
. .
»
A
merged In Public Service R y . n o..) I — perpetuity, the _ . • I f
In
Ca
in
rental being 3 2 .*0f)0
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 thoroafter. Itontal la
guaranteed b y Public Service Corporation o f New Jersoy. V. 77, p. 824.
A
1
O R G A N I Z A T I O N . — C o n s o l i d a t i o n I n J u l y 1 9 0 1 o f S o u t h O r a n g e Sc
M a p l e w o o d T r . C o . a n d S o u t h O r a n g e Sc M a p l e w o o d S t . R y . C o .
S tock
a u t h . a n d o u t ., c o m m o n . $ 7 5 ,0 0 0 ; p r e fe r r e d . $ 1 5 0 ,0 0 0 .
N o bon d s.
(3 ) B e r g e n T u r n p i k e C o .
„
,
„
L e a s o d t o P u b li c S e r v ic e R y . C o . J a n . 1 1 9 0 8 .
, , „
„„
O R G A N I Z A T I O N .— O r ig in a lly c h a r t e r e d o n O c t . 2 7 1 8 0 2 w it h $ 5 1 ,9 9 0
c a p it a l (* 1 0 s h a r e s ).
J e r s e y C i t y H o b o k e n Sc P a t e r s o n ( n o w m e r g e d i n t h e
P u b li c S e r v ic e R y . C o . ) o w n e d a m a j o r i t y o f t h e s t o c k a n d g u a r a n t e e d Its
$ 1 0 0 0 ,0 0 0 5 % b o n d s , d a t e d 1 9 0 1 , d u e J u ly 1 1 9 5 1 ; in t e r e s t J -J ( t f ) ; p r in .
a n d in t . p a y a b le N e w J e r s e y T it l e G u a r . & T r u s t C o ., J e r s e y C it y , tr u s te e .
I n D e c . 1 9 1 5 th e tu r n p lk i b e tw e e n H a c k e n s a c k a n d th e H u d s o n C o u n t y
li n e , s o u t h o f F a i r v i e w , o v e r w h ic h a n e le c t r i c r o a d w a s c o n s t r u c t e d In 1 9 0 2
w a s tu r n e d o v e r t o th e B e r g e n C o u n t y B o a r d o r F r e e h o ld e r s fo r th e s u m o f
$ 1 , th e P . S . C o r p . g iv in g a b o n d a s su rin g th e p a y m e n t o f th e $ 1 ,0 0 0 ,0 0 0
5 % bonds due 1951.
V . 101, p . 1974.
(4 ) O r a n g e & P a s s a i c V a l l e y R y * C o .
,
L e a s e d fo r 9 0 0 y e a rs fr o m N o v . 1 190 3 t o P u b lic S e r v ic e C o r p o r a t io n fo i
In te r e s t o n t h e t r u s t c e r t ific a t e s Iss u e d in e x c h a n g e f o r s t o c k .
L ease w as
a s sig n e d t o N o r t h J e r s e y S tr e e t R y . C o . J u ly 2 3 1 9 0 7 a n d n o w h e ld b y
P u b lic S e r v ic e R y . C o .
$ 9 2 3 ,5 0 0 o f t h e s t o c k o w n e d b y P u b . S e r v . C o r p
O R G A N I Z A T I O N .— I n c o r p o r a t e d in 1 8 9 8 a s s u c c e s s o r o f S u b u r b a u
T r a c t i o n C o . , s o l d In f o r e c l o s u r e J u l y 6 1 8 9 8 .
BO N D S
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S tock
__ ______. . . . . . .
$ 1 ,0 0 0 ,0 0 0
. . . . . . ---------1 s t m t F e 'r iT O O O V O O b ................t f / 1 ^ 9 8
5 J -D
8 3 3 ,0 0 0 D e c
1 1938
I N . J . T i t . G u . Sc T r . C o . o f J e r s e y C i t y , T r u s .
$ 8 3 ,0 0 0 o f o u t s t a n d i n g b o n d s a r e o w n e d b y P u b l i c S e r v ic e C o r p o r a t i o n .
(0 )
C a m d e n & S u b u r b a n R a ilw a y C o .
. . .
„„„
W a s le a s e d o n M a y 1 1 9 0 4 t o P u b li c S e r v ic e C o r p o r a t io n f o r 9 9 9 y e a r s
r e n ta l b e in g (la a d d it io n t o fix e d c h a r g e s ) $ 3 0 ,0 0 0 fo r fir s t y e a r ( 1 9 0 5 ) .
$ 3 6 ,0 0 0 t h e s e c o n d y e a r . $ 4 2 ,0 0 0 t h e t h ir d y e a r , $ 4 8 ,0 0 0 t h e f o u r t h y e a r ,
$ 5 4 ,0 0 0 t h e f i f t h y e a r , $ 7 2 ,0 0 0 t h e s ix t h y e a r , $ 8 4 ,0 0 0 t h e s e v e n t h y e a r ,
$ 9 0 0 0 0 t h e e ig h t h y e a r , $ 1 0 8 ,0 0 0 t h o n in t h y e a r a n d $ 1 2 0 ,0 0 0 t h e t e n t h
y e a r a n d th e r e a fte r .
V . 78. p . 2383.
L e a s e w a s a s sig n e d t o P u b lic
S e r v ic e R a ilw a y C o . S e p t . 2 4 1 9 0 7 .
O R G A N I Z A T I O N . — F o r m e d In 1 8 9 6 .
C o n tr o ls C a m d e n H o r s e R R .
( w h i c h is le a s e d ) a n d W e s t J e r s e y T r a c t i o n C o . ( s t o c k $ 6 0 , 0 0 0 ) .
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 3 , 0 0 0 . 0 0 0 ( $ 2 5 ) .............................Q -F
See te x t.
See tex t
1 s t m o r t g a g e $ 3 ,0 0 0 ,0 0 0 g o l d / 1 8 9 6
5 J -J
$ 1 ,9 4 0 ,0 0 0 J u ly 1 1 9 4 6
.............................. c t f l l n t . a t N . J . T r . & S a f e D e p . C o . , C a m d e n , T r u s .
($ 1 ,0 0 0 )
S t o c k . — T h o s t o c k is a l l o u t s t a n d i n g ; 2 0 % p a i d i n .
B o n d s .— O f t h e 1 s t m t g e . b o n d s . $ 1 . 0 0 0 , 0 0 0 a r e r e s e r v e d t o r e t ir e s t o c k o f
C a m d e n I lo r s o R R . a n d $ 6 0 ,0 0 0 a r e f o r e x t e n s io n s .
V . 9 4 . p . 1185.
R O A D . — O p e r a t e s 9 L 3 m ile s o f t r a c k .
C o n n e c t io n th r o u g h t o T r e n t o n
fe m a d o o v e r R i v e r s i d e T r a c t i o n ( n o w l e a s e d b y P . S . R y . ) . V . 7 8 , p . 1 7 8 1 .
2383; V . 8 8 . p . 1126; V . 8 9 . p . 164; V . 9 4 . p . 1117, 1186.
(a )
C am den
H orse
R a ilr o a d
C o.
O R G A N I Z A T I O N .— I n c o r p . M a r c h 2 3 1 8 6 6 .
8 t o c k , $ 2 5 0 ,0 0 0 ( $ 2 5 ) .
L e a so d t o C a m d e n & S u b u rb a n R y . fr o m A p r . 1 1896 fo r 9 9 9 y e a rs .
R en ta l
& c . , r e c e i v e d , $ 6 0 ,0 0 0 p e r a n n u m , f r o m w n l c h is p a i d 2 4 % o n s t o c k .
A ll
b o n d s h a v e b e e n c a n c e le d .
R O A D . — H a s 3 0 .1 1 m ile s o f t r a c k .
C a m d e n G lo u c e s t e r & W o o d b u r y R a ilw a y C o .
t o P u b lic S e r v ic e R y . C o .
O R G A N I Z A T I O N . — E n t i r e $ 6 0 0 , 0 0 0 s t o c k Is o w n e d b y S o u t h
O a s , E l e c t r i c Sc T r a c t i o n C o .
A ll b o n d s h a v e b e e n c a n c e le d .
R O A D . — C o m p r is e s 2 5 m ile s o f r o a d .
(7 ) P e o p l e ’ s B le v a t in g C o .
O R G A N I Z A T I O N .— I n c o r p o r a t e d in N e w J e r s e y M a y 3 1 1 8 9 9 .
is a ll o w n e d b y P u b li c S e r v ic e R y . C o .
Jorsey
S tock
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k , $ 2 5 0 , 0 0 0 ( $ 1 0 0 ) ...................................................................
* 2 5 0 .0 0 0
. . . . . . . ...
F ir s t
m ortg a g e.
$ 2 5 0 ,0 0 0 ,1 1 8 9 9
5 g A -O
1 7 5 ,0 0 0 O c t 1 1 9 3 9
g o l d ( $ 1 . 0 0 0 ) ..................... c * t f J I n t . a t N . J . T l t l e G u a r . & T r . C o . , J . O . . T r u s t e .
(8 ) N e w J e r s e y & H u d s o n R iv e r R y . & F e r r y C o .
___
P u b li c S e r v ic e C o r p o r a t io n h a s a c q u ir e d $ 2 ,4 4 6 ,3 5 0 o f t h e $ 2 ,5 0 0 ,0 0 0
c o m m o n a n d $ 4 ,6 3 3 o f t h e $ 7 5 0 ,0 0 0 p r e f. s t o c k .
V. 91, p. 96.
I s le a s e d
t o P u b lic S e r v ic e R y . fo r 9 0 0 y e a r s fr o m M a y 1 1 9 1 1 f o r in t e r e s t o n b o n d s
a n d 6 % o n b o t h c o m m o n a n d p r e f. s to c k s .
„ .
_
O R G A N I Z A T I O N .— In c o r p o r a te d a t T r e n to n , N . J .. o n F e b . 2 5 1910
a s a c o n s o l i d a t i o n o f N e w J e r s e y & H u d s o n R i v e r R y . Sc F e r r y C o . a n d
H u d s o n R iv e r T r a c t io n C o .
T h is c o m p a n y o w n s th e o n tlr o c a p it a l s t o c k
a n d b o n d s o f T h e R iv e r s id e & F o r t L e e F e r r y C o ., o w n e r o f th o W e s t 1 3 0 th
S t. F e rry .
T h e s e s e c u r it ie s a r e a ll d e p o s it e d u n d e r t h e $ 5 ,0 0 0 ,0 0 0 m o r t
gage.
F r a n c h is e s p e r p e t u a l e x c e p t o n e fo r 6 0 y e a r s a n d o n e f o r 9 9 y e a r s .
C h ie fly p r iv a t e r ig h t o f w a y .
..
.
F a r e s .— F o r s u it b r o u g h t in U . S . D i s t . C o u r t a s k in g t h a t a r e s o lu t io n
p a s s e d b y t h e B o a r d o f C h o s e n F r e e h o ld e r s o f B e r g e n C o u n t y , N . J . , r e
d u c in g th e fa r e s o f th is c o . b e d e c la r e d ille g a l a n d v o i d , s e e V . 9 9 , p . 4 0 7
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g . D iv id e n d s .
S t o c k , c o m , $ 5 , 2 5 0 , 0 0 0 ( $ 1 0 0 ) ........................ ..............
$ 2 ,5 0 0 ,0 0 0 S e e t e x t
•
S t o c k , p r e f . $ 7 5 0 , 0 0 0 6 % c u m _____
6 F -A
7 6 0 .0 0 0 S e e t e x t
N J & II R R Y & F C o l s t M .\
1900
4 g M -S
4 .0 1 1 .0 0 0 M a r . 1 1 9 6 0
$ 5 ,0 0 0 ,0 0 0 g ( $ 1 .0 0 0 ) . c * t f t i n t , a t U . S . M t g e .& T r .C o ., N . Y . , T r u s t e e .
H u d l t l v T r a c 1 st M , $ 1 ,0 0 0 ,-1 1 9 0 2
6 g M -S
6 3 1 ,0 0 0 M a r . 1 1 9 5 0
0 0 0 g ( $ 1 . 0 0 0 ) --------------------- t f / I n t . a t U . S . M t g e . t c T r . C o . , N . Y . , T r u s t e *
S t o c k . — P r e f . s t o c k Is r e d e e m a b l e a t 1 1 6 a n d a c c r u e d d i v i d e n d s .
$ 1 ,5 0 0
p r e f . s t o c k In t r e a s u r y .
B o n d s . — N . J . Sc H u d . R i v e r R y . Sc F e r r y C o . b o n d s c a n b e c a l l e d o n a n y
I n t. d a y a t 1 0 5 a n d in t . u p o n s ix w e e k s ’ n o t ic e .
V . 80, p . 998.
H u d son
R iv e r T r a c t io n b o n d s a re s u b je c t t o c a ll o n a n y in t . d a t e a t 1 1 0 .
$ 6 7 ,0 0 0
a r e o w n e d b y N . J . Sc H . R . R y . Sc F e r r y C o .
R E P O R T .— I n c lu d e d in P u b lic S e r v ic e R y .
R O A D .— O w n s a n d o p e r a t e s 3 1 .3 3 m ile s o f t r a c k fr o m E d g e w a t e r , N . J .
(te r m in a l o f W . 1 3 0 th S t. fe r r y , N . Y . C i t y ) , t o E n g lo w o o d , H a c k e n s a c k
a n d P a t e r s o n ; a ls o 1 7 .1 1 m ile s o f t r a c k f r o m H a c k e n s a c k t o I l a s b r o u c k
H e ig h t s . W o o d r id g e , R u t h e r fo r d t o A r lin g t o n a n d a b r a n c h lin o fr o m H a s b r o u c k H e ig h ts t o L o d i.
T h e c a r s o f t h is c o m p a n y o p e r a t e t o t h e b u s in e s s
c e n tr e s o f N e w a r k , P a s s a ic a n d P a t e r s o n .— V . 9 2 , p . 4 6 2 ; V . 9 9 . p . 4 0 7 .
(9 ) R iv e r s i d e T r a c t i o n C o .— T r o lle y .
,
L e a s e . — C o m p a n y Is l e a s o d f o r 9 9 9 y e a r s f r o m A p r i l 1 1 9 1 2 t o P u b l i c
S e r v ic e R y .
T h o le a s e p r o v id e s f o r in t . o n b o n d s 6 % d lv s . o n o u t s t a n d in g
p r e f . s t o c k a n d a d l v . o n c o m . a m o u n t in g t o $ 1 4 ,1 9 3 t h e f ir s t y e a r . In
c r e a s in g a n n u a lly u n t il s e v e n t h y e a r , w h o n t h e m a x im u m o f $ 2 0 ,1 6 9 w ill
h ave been reach ed.
V . 94. p . 699.
O R G A N I Z A T I O N . — I n c o r p . In N e w J e r s e y J u n e 2 0 1 9 1 0 a s s u c c e s s o r t o
C a m d e n & T r e n t o n R y ., s o ld a t fo r e c lo s u r e . S ee p la n , V . 8 8 , p . 1 1 2 6 .
O w n s 3 9 5 o u t o f 4 0 0 s h a re s (p a r $ 5 0 ) o f th o c a p ita l s t o c k o f th e C ln n a m l n s o n E l e c . L t . , P o w . Sc I l t g . C o . o f R i v e r t o n , N . J . . w h i c h s u p p l i e s t h e
to w n s o f B e v e r ly , D e la n c o , R iv e r s id e , R iv e r t o n a n d P a lm y r a , w ith lig h t .
A ls o o w n s o n t lr o c a p it a l s t o c k ($ 6 0 ,0 0 0 ) o f t h e B o r d e n t o w n E le c . C o . , w h ic h
s u p p lie s lig h t t o B o r d e n t o w n a n d v i c in it y .
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
C o m m o n , $ 1 , 1 0 0 , 0 0 0 ( $ 5 0 ) ......................
...................
$ 7 4 7 ,1 5 0
............................
P r e f e r r e d , $ 4 0 0 , 0 0 0 ( $ 5 0 ) . . . . --------5%
2 6 6 .6 0 0
_______________
F ir s t M $ 1 ,5 0 0 ,0 0 0 g ( $ 1 0 0 .1 1 9 1 0
6 g J -D
1 ,5 0 0 .0 0 0 J u n e 1 1 9 6 0
$ 5 0 0 & $ 1 . 0 0 0 ) c a l l , a t 1 1 0 t f JI n t . a t W e s t E n d T r u s t C o . . P h l l a . . T r u s t e e .
B o n d s .— S u b je c t t o c a l l , a ll o r a n y , o n a n y i n t e r e s t d a y a t 1 1 0 a n d i n t
I n t e r e s t Is g u a r a n t e e d b y P u b l i c S e r v i c e R y . V . 9 4 , p . 2 8 0 , 3 5 2 .
R O A D .— C o m p r is e s 3 2 .9 6 m ile s o f t r a c k b e t w e e n T r e n t o n a n d R iv e r t o n
( w h e r e c o n n e c t i o n is m a d e w i t h C a m d e n & S u b u r b a n R y . T r a c k s ) .
B y a
c o n t r a c t b e t w e e n t h i s c o m p a n y a n d t h e C a m d e n Sc S u b u r b a n , t h e R l v e r s l d o
T r a c t io n c a r s r u n d ir e c t t o P h ila d e lp h ia F e r r y a t M a r k e t a n d F e d e r a l s t r e e t s ,
C a m d e n .— V . 9 3 , p . 4 0 8 ; V . 9 4 . p . 2 8 0 , 3 5 2 . 6 9 9 .
(1 0 ) P a t e r s o n & S t a t e L in e T r a c t i o n C o .
S t o c k a ll o w n e d b y th e P u b lic S e r v ic e R a il w a y C o .
O R G A N I Z A T I O N . — I n c o r p . in N o w
Jersey N o v .
15 1 901.
S tock
a u t h o r iz e d . * 3 0 0 ,0 0 0 (I n c r e a s e d in J u ly 1 9 1 3 fr o m * 1 0 0 ,0 0 0 ; V . 9 7 . p . 5 2 2 ) :
o u t s t a n d in g , $ 1 5 0 ,0 0 0 .
•
B O N D S .—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
1 s t m t g e $ 3 0 0 , 0 0 0 g o l d ................1 9 1 4
6 J -D
* 1 5 0 ,0 0
Ju n e 1 1964
F i d e l i t y T r u s t C o . . N e w a r k , t r u s t e e ^ ___
P U B L IC
S E R V IC E
O R G A N IZ
191 3 ) o f th e
T e r m in a l R R
a ll o w n e d b y
73
ELECTRIC RAILWAYS
•Sbpt., 1918. j
R A IL R O A D .
A T I O N .— A c o n s o lid a t io n (u n d e r a g r e e m e n t d a t e d J u n e 3 0
E l i z a b e t h N e w B r u n s w i c k Sc T r e n t o n R R . a n d t h e T r e n t o n
. C a p it a l s t o c k a u t h o r iz e d , $ 5 0 0 ,0 0 0 ; o u t s t a n d in g , * 2 8 5 .0 0 0 ,
P u b lic S e r v ic e C o r p . o f N e w J e r s e y e x c e p t d ir e c t o r s ’ s h a r e s .
Regular trolley service between N ewark and Trenton July 1 1 91 3 , and
service between Newark and Perth A m boy inaugurated about July 1 1914.
V . 97, p. 522. T he branch line to R oosevelt B orough was placed in opera
tion D ec. 8 1915.
O n A u g . 1 0 1 9 1 8 t h o P . U . C o m m . a u t h . t h e c o . t o in c r e a s e it s r a t e s
b e t w e e n N e w a r k a n d T r e n t o n fr o m 2 t o 2 H c e n ts p e r m ile , w it h a m in im u m
c h a r g e o f 10 c e n t s , e x c e p t b e tw e e n C h r o m e J u n c tio n a n d C h r o m e , b e tw e e n
w h ic h p o in t s a 5 - c e n t f a r e is t o b e c o n t in u e d .
(I) Elizabeth & Trenton RR.
,
„ .
Lease.— Leased to Trenton Terminal R R . (subsequently merged In
P ublic Service R R . C o .) for 999 years from April 1 1912. Rental 5 % on
outstanding pref. stock , and, beginning with the year ending April 1 1915,
1 % on outstanding co m ., with additional 1% annually until 4 % is paid.
V . 94. p. 697.
„ _
O R G A N IZ A T IO N .— Incorporated in N ew Jersey on M a y 19 1910 as
successor to the Trenton & N ew Brunswick R R . and the N ew Jersey Short
Line R R .. both sold at foreclosure. See plan in V . 89. p. 1282. 1349.
S T O C K A N D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
A -O
$811,350 .....................
C om m on $900,000 ($50)....................
P ref $300.000 5%. cum ($50)..............
A-O
180.300 -------------------First m tge $1,200,000 gold ! 1912
5 g A -O
990.000 A pr 1 1962
($ 1,0 00 )............ ........... c * . t f / I n t . at Logan T rust C o .. Philadelphia, Trus.
B o n d s . — First m tge. bonds are subject to call as a whole on any int. d a y
at 110 and int. Prin. and int. are guar, under terms o f lease b y the
Trenton Term inal R R .. whose obligations are guar, in turn b y the P ublic
Service R R . and the Public Service Corporation.
R O A D .— Owns 49.656 miles equivalent single track; standard-gaug*
closed cars. V. 90. p . 1362; V . 94. p . 697.
N EW
NEW BEDFORD, MASS.
B E D FO R D
&
O N SET
STR E E T
R Y .— A
tr o lle y r o a d .
O R G A N IZ A T IO N .— Incorporated In M assachusetts In 1901. This com
pany is owned in the same interest as the U nion St. R y . C o . In June 1906
issued $50,000 new stock In exchange for the *150.000 stock o f the T aunton
Sc Buzzard’s B ay St. R y .. which was a reorganization o f the M lddleboro
Wareham Sc Buzzard’s B ay St. R y . V . 82, p. 1438.
F a r e I n c r e a s e . — T h e M a s s . P . S . C o m m , i n O c t . 1 9 1 7 a u t h o r i z e d t h e dis
c o n t i n u a n c e o f t h e s a l e o f 2 0 t i c k e t s f o r $ 1 a n d t h e a d o p t i o n o f a straight
6 -c e n t fa re .
V . 105. p . 1420.
C om p a re V . 101, p . 923.
I n A u g . 1 9 1 8 w a s a u t h . b y t h e M a s s . P . S . C o m m , t o in c r e a s e fa r e s fr o m
6 t o 7 c e n t s o n t h o c o n d it io n t h a t w o r k i n g m e n ’s r e d u c e d r a t e t ic k e t s b e
m a d e u n iv e r s a lly v a lid in s te a d o f b e in g a c c e p t e d o n ly o n c e r t a in p o r t io n s
o f t h o lin o . V . 1 0 7 , p . 6 9 7 , 9 0 6 .
S T O C K A N D B O N D S—
D a te .
S tock, $550,000 ($100)---------------------
In ter es t
O u tsta n d in g .
First mortgage. $600,000,
gold ($1,000)-----------c*ntf
M a tu rity
5550.000 D e c .’ 1 3,3 5
1902
5 g J -J
'2 8 0 , 0 0 0 J a n . 1 1 9 l „
I n t . a t I n t e r n a t io n a l T r . C o . , B o s t o n , T r u s .
N o s in k in g fu n d a n d n o t s u b je c t t o c a ll .
______________ 1st mortgage.
4 g A -O
1 5 0 .0 0 0 O c t . 1 1 9 2 1
M W & B B_____ ________1 9 0 1
$ 1 5 0 ,0 0 0 ( $ 1 ,0 0 0 ) g - . c n t f l i n t , a t F e d e r a l T r u s t C o . , B o s t o n , T r u s t e e .
B o n d s . — T h e M l d d l e b o r o W a r e h a m Sc B u z z a r d ' s B a y b o n d s h a v e n o
s in k in g fu n d , b u t a r e s u b je c t t o c a ll b e fo r e O c t . 1 1 9 2 1 a t 1 0 5 a n d I n t.
See V . 7 3 , p . 1313.
I n t . w a s fo r m e r ly 5 % , b u t o n c o n s o lid a t io n w ith N e w
B e d fo r d & O n se t w a s re d u ce d to 4 % .
„
R O A D .— O w n s 4 4 .0 5 m ile s o f t r a c k b e t w e e n F a lr h a v e n a n d O n s e t a n d
In M l d d l e b o r o a n d t o B u z z a r d ’ s B a y a n d t o M o n u m e n t B e a c h .
27 p assen
g e r c a r s , 4 s n o w p lo w s . 4 m is c e lla n e o u s a n d 9 6 e le c t r ic m o t o r s .
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
„
,
C a l. Y e a r —
G ross.
N e t.
In t. A T a xes.
S u r p lu s .
$ 3 7 ,9 6 1
$ 2 9 ,3 4 9
$ 8 ,6 1 2
1 9 1 7 ..............................- ..............* 1 9 0 , 6 0 4
1 9 1 6 . - __________ ____________ 1 7 6 , 4 9 8
2 9 .3 3 3
2 9 .7 0 9
d e f.3 7 6
In 1917 carried 21,934,169 revenue passengers.
O F F I C E R S . — I’ r e s ., I I . H . C r a p o ; V . - P . , E . S . W i l d e ; S e c ., C la r e n c e
A . C o o k ; T r e a s ., E . F . N ic h o ls o n ; S u p t ., G e o . P . D o le .— V . 1 0 7 , p . 5 0 1 ,
697, 906.
_________
U N IO N S T R E E T - R A I L W A Y .— A t r o lle y r o a d .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In M a s s a c h u s e t t s o n M a r c h 1 8 1 8 8 7
a s a c o n s o l i d a t i o n o f A c u s h n e t S t . R y . a n d N e w B e d f o r d Sc F a l r h a v e n S t .
R y.
O n N o v . 1 1 9 1 0 c o n s o l i d a t e d w i t h D a r t m o u t h Sc W e s t p o r t S t . R y .
^ " in * j u n o * 1 9 i 8 w a s a u t h . b y t h o M a s s . P . S . C o m m , t o is s u e * 8 1 2 ,5 0 0
c a p i t a l s t o c k a t p a r , t h e p r o c e e d s , i t is r e p o r t e d , t o b e u s e d t o p a y o u t s t a n d
in g d e b t a n d f o r im p r o v e m e n t s , & c ., in c lu d in g t h e c o n s t r u c t io n o f a n e w
p ow er h ou se. V . 106. p . 2758.
C om p a re V . 106, p . 1797.
8TO O K A N D BO N D S—
D a te .
I n te r e s t. O u tsta n d in g . L a s t d iv .A c .
S t o c k . $ 1 , 6 2 5 , 0 0 0 ( p a r $ 1 0 0 ) . . --------Q -F
,
$ 1 ,6 2 5 ,0 0 0 A u g ’ 1 8 . 2 %
F ir s t M $ 2 ,0 0 0 ,0 0 0 ( $ 1 ,0 0 0 ) ,] 1 9 1 4
4 H g J -J
2 6 0 .0 0 0 J a n . 1 1 9 3 4
g o l d , n o s in k in g f u n d . . n t f \ I n t . a t O ld C o l o n y T r u s t C o . , B o s t o n . T r u s t .
N o t e s p a y a b l e S e p t . 1 1 9 1 8 . ----------------------- -3 7 5 ,0 0 0
--------------------- —
B o n d s .— R e d e e m a b le a ft e r J a n . 1 1 9 1 9 a t 1 1 0 .
I s s u e d t o r e t ir e c o n s o l,
m tg e. o f 1894. d u e J a n . 1 1914.
V . 97, p . 1584. 1664.
D iv id e n d s .— I n 1 8 9 6 -9 7 . 1 0 % ; in 1 8 9 7 -9 8 . 6 % ; 1 8 9 9 a n d s in c e , 8 % .
R O AD
& c .— O p e r a t e s 6 3 .6 9 m ile s ( o f w h ic h 5 5 - 5 3 m ile s a r e o w n e d ) in
N e w B e d fo r d a n d a d ja c e n t t o w n s , a n d c o n n e c ts N e w
B e d f o r d a n d F a ll
R iv e r .
2 2 0 p a ss e n g e r c a rs ; 14 fr e ig h t a n d s e r v ic e ca r e a n d 14 s n o w p lo w s .
A n e w p o w e r h o u s e a t N e w B e d f o r d , M a s s . , c o s t i n g a b o u t $ 6 5 0 , 0 0 0 , is
u n d er co n stru ctio n .
_
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
C a l. Y e a r — G r o s s .
N e t.
In t. & T a xes. D ie s . ( 8 % ) .
S u r p lu s .
1 9 1 7 ................$ 1 , 1 5 5 , 8 6 4
$ 2 8 6 ,3 2 2
$ 1 1 7 ,0 1 7
* 1 3 6 ,0 0 0
$ 3 9 ,3 0 4
1916
1 0 8 4 .2 5 6
3 3 4 :6 3 7
„
9 6 ,8 8 7 a
1 3 0 ,0 0 0
1 0 7 ,7 5 0
O F F I C E R S .— P r e s .. H . H . C r a p o ; V . - P . , E . 8 . W ild e ; S e c ., O , A .
C o o k ; T r e a s ., E . F . N ic h o ls o n : S u p t ., E . S . W i ld e , a ll o f N e w B e d fo r d .—
V . 98, p . 525; V . 105. p . 1803; V . 106, p . 1127, 1797, 2 758.
NEW HAVEN, CONN.
N E W Y O R K N E W H A V E N & H A R T F O R D R Y . ( T r o ll e y lin e s .)
T h e N e w Y o r k N e w H a v e n Sc H a r t f o r d ’ s I n t e r e s t s I n t r o l l e y l i n e s h a v e
b e e n v e r y e x te n s iv e , b u t u n d e r a n a g r e e m e n t r e a c h e d w it h th e U . 8 . G o v t .
In 1 9 1 4 t h e c o m p a n y h a s p l e d g e d i t s e l f t o d i s p o s e o f t h e s a m e
T h o t r o lle y c o m p a n ie s o w n e d b y t h e N . Y . N . I I . & I I ., w h ic h a re n o w t o
b o d is p o s e d o f u n d e r th e d e c r e e o f th e F e d e r a l C o u r t , a r e a s fo llo w s :
B e r k s h ir e S tr e e t R y .
T h e H o o s lc k F a lls R R . C o .
C o n n e c t ic u t C o .
T h e V erm on t C o .
N e w Y o r k Sc S t a m f o r d R y .
W estch e ste r S tre e t R R .
R h o d e Isla n d C o .
S h o r e L in e E le c t r ic R R . o f N . Y .
T h o N . Y . N . H . Sc H . a l s o o w n s * 4 . 9 8 4 . 9 3 8 o f t h e $ 5 , 0 0 5 , 2 5 0 s t o c k o f t h e
N . Y . W e s t c h e s t e r & B o s t o n R y . . a n e l e c t r i c r o a d , w h i c h I t Is u n d e r n o o b l i
g a t io n t o d is p o s e o f a n d w h ic h w ill b e d e v e lo p e d a s p a r t o f t h e N e w H a v e n
s y s t e m .— V . 9 9 . p . 2 7 0 . 6 0 4 , 1 1 2 5 , 1 2 1 < b V . 1 0 0 , p . 6 4 2 ; V . 1 0 4 , p . 2 0 1 0 .
C o n tr o l P a s s e f t o T ru stees9— 1 n O c t . 2 7 1 9 1 4 t h e $ 4 0 ,0 0 0 ,0 9 0 c a p i t a l s t o c k
O
o f t h is c o . h e ld b y N e w E n g la n d N a v ig a t io n C o . w a s t r a n s fe r r e d t o t h e f i v e
tr u s t e e s , p u r s u a n t t o t h e r e q u ir e m e n ts o f t h e U . S . D e p t , o f J u s t ic e . V . 9 9 .
p . 1451.
T h e N e w H a v e n C o . h a s b o u n d I ts e lf t o s e ll th e s t o c k , a n d th e
t r u s t e e s a r e t o u s e t h e ir b e s t e n d e a v o r t o c o m p le t e t h e s a le b e f o r e J u ly 1
1919.
T h e tru ste e s a re: J u d g e W a lte r C . N 6 y e s o f N e w L o n d o n , L e o n a rd
M . D a g g e t t o f N o w H a v e n , C h a r le s C h e n e y o f S o u th M a n c h e s t e r , M o r g a n
B . B r a in a r d o f H a r t fo r d a n d C h a s . G . S a n fo r d o f B r id g e p o r t . S e e r e m a r k s
under N . Y . N . n . & H . R R . C o . a b ove an d V . 9 8, p . 1000, 1245.
T h i s Is t h e c o m p a n y w h i c h o p e r a t e s t h e t r o l l e y l i n e s i n C o n n e c t i c u t
c o n t r o l l e d b y t h e N . Y . N . H . & H . a n d w h i c h f o r m e r l y w e r e c o m p r i s e d in
th e C o n s o lid a t e d R a ilw a y C o .
„„
____
,
O R G A N I Z A T I O N . — I n c o r p . in C o n n e c t i c u t .
E n t ir e $ 4 0 ,0 0 0 ,0 0 0 s t o c k
a n d * 1 ,0 0 0 ,0 0 0 d e b e n t u r e s o w n e d b y N o w
H aven C o.
Ju n e 1 1907
b e g a n o p e r a t in g t h e lin e s c o m p r is in g t h e C o n s o lid a t e d R a ilw a y (m e r g e d
In 1 9 0 7 in t h e N e w Y o r k N e w H a v e n & H a r t f o r d ) ; F e b r u a r y 2 8 1 9 1 0
u r c h a s e d s u b s t a n t ia lly a ll t h e v a r io u s s t r e e t r a il w a y p r o p e r t ie s o f t h e
r . Y . N e w H a v e n & H a rtfo rd in C o n n e c t ic u t .
_
.
O n M a r c h 1 1 9 1 0 a ll th e g a s , w a te r a n d e le c t r ic -lig h t p r o p e r t ie s fo r m e r ly
o p e r a t e d b y t h o C o n n e c t ic u t C o . , b u t o w n e d o r le a s e d b y N . Y . N . H .
Sc I I . R R . C o . , w e r e t r a n s f e r r e d t o t h e H o u s a t o n i c P o w e r C o . , w h i c h c o m
p a n y I n c r e a s e d it s s t o c k f r o m $ 1 ,0 0 0 ,0 0 0 t o $ 3 ,0 0 0 ,0 0 0 , t o p a y f o r t h e
a c q u is itio n s .
O n J a n . 1 1 9 1 2 . h o w e v e r , t h e g a s -d is t r ib u t io n lin e s o f th e
H o u s a t o n ic P o w e r C o . a n d a ls o t h e lin e s s u p p ly in g e le c t r ic it y ( n o t th e
p o w e r p la n t s ) In W a t e r b u r y , N e w
B r ita in , G r e e n w ic h , N o r w a lk a n d
N a u g a t u c k w e r e ta k e n o v e r u n d e r a s u b -le a s e fo r 9 9 4 y e a r s d a t e d O c t . 1
1 9 1 1 b y t h o U n i t e d E l e c . L t . Sc W a t e r C o .
V . 9 4 , p . 71; V . 9 3 , p . 1669.
L e a s e .— T h o C o n n e c t ic u t C o . o w n s a n d h a s le a s e d t o t h e S h o r e L in e E le c .
R y . , 8 9 .2 0 m ile s o f t r a c k in N e w L o n d o n , W i lli m a n t lc , D a n ie ls o n a n d P u t
n a m . S e e s e p a r a te s ta te m e n t fo r T h e S h o r e L in e E le c . R y . fu r th e r b e lo w .
S
74:
ELECTRIC RAILWAYS
F a r e D e c i s i o n .— I n A u g . 1 9 1 7 J u d g e G a g e r In t h e S u p e r i o r C o u r t o f N e w
H a v e n C o u n t y d is s o lv e d a n in ju n c t io n r e s tr a in in g t h e c o m p a n y fr o m d is
c o n t i n u i n g t h e s a le o f t i c k e t s a t s ix f o r 2 5 c . o r 2 5 f o r $ 1 in W a t e r b u r y , C o n n . ,
I n S e p t . 1 9 1 7 t h e c o . a n n o u n c e d a n in c r e a s e in t r o ll e y fa r e s f r o m 5 t o 6
c e n t s , o r 17 t i c k e t s f o r S I . e f f e c t i v e O c t . 1 1 9 1 7 , o n a ll lin e s o p e r a t e d b y th u
c o m p a n y in C o n n .
V . 105, p . 1208.
I n A p r i l 1 9 1 8 t h e 1>. U . C o m m ,
s u s t a i n e d t h e c o m p a n y ’s a c t i o n , d e n y i n g t h e p e t i t i o n o f t h e c i t y o f H a r t f o r d
fo r a r e d u c t io n .
V . 106, p . 1461.
T h e c it y h a s a p p e a le d .
G o v e r n m e n t L o a n .— I n S e p t . 1 9 1 8 o b t a i n e d a l o a n t h r o u g h t h e U n i t e d
S t a t e s H o u s in g C o r p . o f a p p r o x im a t e ly S I ,3 5 0 ,0 0 0 t o p r o v id o fu n d s fo r
c o n s t r u c t i n g t r a c k s t o p r o v id e t r a n s p o r t a t i o n o f m u n it i o n w o r k e r s in B r id g e
p o rt. V . 107, p . 1099.
T h e f o ll o w in g c o m p a n ie s h a v e b e e n a b s o r o e d o r a r e le a s e d o r c o n t r o ll e d :
B r a n fo r d L ig h tin g & W a t e r C o .
V . M id d le t o w n S tr e e t R y . V . 7 9 , p .2 6 8 .
81 , p . 155, 210
♦ M o n tv ille S tr e e t R y . V . 7 9 , p . 2 6 8 .
C o n n e c t ic u t R a ilw a y A L ig h tin g C o . N e w H a v e n S t. R y . V . 7 9 , p . 9 8 9 .
V . 8 3 . p . 1524.
N e w H a v e n A C e n tr e v ille S tr e e t R y .
D a n ie ls o n
&
N o r w ic h
S treet R y .
V . 78, p. 989.
V . 79. p. 268.
N ew H a v . A W . H a ven H orse R R .
E . H a r tfo r d & G la s to n b u r y S t. R y . * N e w L o n d o n S t. R y . V . 7 9 , p . 2 6 8 .
F a ir H a v . A W e s t v .R R . V .7 8 .p .9 8 9 . ♦ N o r w ic h S tr e e t R y . V . 7 9 , p . 2 6 8 .
F a r m in g to n S tr e e t R y .
V . 6 9 , p . ♦ P u tn a m A T h o m p s o n S tre o t R y .
283; V . 8 9 , p . 593, 1542.
S t a ffo r d S p r in g s S tr e e t R y .
G r e e n w ic h T r a m . C o . V . 8 0 . p . 1 1 8 . S ta m fo r d S tr e e t R y .
H a r t .M a n .& I t o c k v .T .C o . V .8 2 ,p .2 8 0 . T o r r ln g . & W i n . S t . R y . V .8 5 .p .l 4 0 3 .
H a r t fo r d & M id d le t o w n S tre e t R y .
W a llin g fo r d T r a m w a y C o .
H a r tfo r d S tre e t R y .
W a t e r b u r y A P o m p c r a u g V a l. S t .R y .
M e r id e n E le c t r ic R y . V . 7 9 , p . 2 6 8 . W e s t S h o r e R y . C o . V . 7 8 , p . 9 8 9 .
M e r id e n H o r s e R R .
V . 7 9 , p . 2 6 8 . ♦W i lll m a n t ic T r a c . C o . V . 8 1 , p . 1 1 7 0 .
M e r id e n S o u t h in g t o n A C o m p o u n c o W in c h e s te r A v e . h R . V . 7 8 . p . 9 8 9 .
V . 8 3 , p .________.
_______ 1 5 2 4
T rom w a_ C o.
y
♦ T h e s e r o a d s w e r e le a s e d In 1 9 1 2 t o S h o r e L in e E le c t r i c R y . , w h ic h
•ee fu r t h e r b e lo w .
T h e N . Y . N . H . A H . R R . o f f e r e d t o e x c h a n g e $ 1 0 0 o f Its s t o c k f o r $ 2 0 0
o f c e r ta in Issu es o f th e C o n s o l. R y . C o . ’ s d e b e n tu r e s .
See V . 8 2 , p . 803.
and V . 8 3 , p . 1037.
$ 1 7 ,5 8 6 ,0 0 0 o f d e b e n t u r e s h a v e b e e n s o e x c h a n g e d fo r
$ 8 , 7 9 2 , 5 0 0 N . Y . N . 11. A
11. R R . s t o c k .
T h e fo llo w in g s h o w s th e
d e t a ils fo r e a c h Issu e o f d e b e n tu r e s :
D eb en tu res o f
Issu e—
J u ly 1 ’ 0 4 .
J a n . 2 ’0 5 ,
A p r, 1 ’0 5 .
J a n . 1 '0 6 ,
M a r .l ’07.
The
6 0 -y r .. 4 g
5 & -y r .. 4 g
5 0 -y r ..4 g
5 0 -y r ., 4 g
1 0 -y r ., 6 %
C o n s o lid a ted
A u th o r is e d .
J - J $ 5 . 0 9 0 ,0 « Q
J -J
4 .0 0 0 , 8 0 ©
A - O 3 .5 0 0 .0 0 0
J -J 1 0 .0 0 0 .8 0 0
c o n . 1 5 .0 0 0 .0 0 0
R a ilw a y
C o m p a n y— A ll ta x fr e e .
E x . f o r S tk . o r
Issu ed .
P u r . A C a n c e l . S till O u t.
$ 6 ,0 0 0 ,0 0 0
$ 7 4 5 ,0 0 0 o $ 4 .2 5 5 .0 0 0
4 . 0 0 0 .© 0 0
1 .6 9 1 ,0 0 0
0 2 .3 0 9 .0 0 0
* _____________
3 ,5 0 0 ,0 0 0
2 .1 6 0 0 0 0
o l . 3 4 0 ,0 0 0
* 1 0 ,0 0 0 .0 0 0
7 ,9 8 9 0 0 0
0 2 ,0 1 1 .0 0 0
5 ,0 0 0 ,0 0 0
_________
5 ,0 0 0 .0 0 0
T o t a l e x c h a n g e a b l e ..$ 3 7 .6 0 0 ,0 0 0 $ 2 7 ,6 0 0 ,0 0 0
F e b . 1 1 9 0 6 . 2 5 -y e a r ,
n o w 4 g F -A (s e e t e x t )
1 .0 0 0 ,0 0 0
1 ,0 0 0 ,0 0 0
$ 1 7 ,6 8 5 ,0 0 0
2 8 .0 0 0
9 7 2 .0 0 0
T o t a l o f a l l .........................$ 3 8 , 5 0 0 , 0 0 0
$ 1 7 ,6 1 3 ,0 0 0
$ 1 0 ,8 8 7 ,0 0 0
$ 2 8 ,5 0 0 ,0 0 0
n.
$ 9 ,9 1 5 ,0 0 0
♦ G u a r a n te e d , p r in c ip a l a n d In te r e st, b y N . Y . N .
* H . R R . a T h ese
a m o u n t s c a n n o t b e I n c r o a s c d , a s r e m a in d e r o f Issu es h a s b e e n c a n c e le d .
6 N o t e x c h a n g e a b le fo r s t o c k .
T h e d e b e n t u r e s a r e In c o u p o n f o r m o f $ 1 , 0 0 0 e a c h a n d f u l l y r e g i s t e r e d
d e b e n t u r e s o f $ 1 0 ,0 0 0 e a c h , w h ic h a re n o n -ln t e r c h a n g e a b le .
In terest m a y
b e c o l l e c t e d In N e w Y o r k C i t y a n d B o s t o u .
BON DS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
E q u i p m e n t n o t e s S e r lo s “ A ” . . 1 9 1 5
5 A -O
$ 2 0 5 ,0 0 0
See te x t.
E q u ip m e n t n a te s S e r lw “ B ” f 1910 4 A g M -S 15
2 7 6 .0 0 0
See tex t.
g o l d $ 4 6 0 ,0 0 0 ( $ 1 ,0 0 0 ) — c \ l n t . a t S e c u r it y T r . C o . , H a r t f o r d , t r u s t e e .
N H A C e n te iw
lo t M , g . l 1893
5 g M -S
2 8 3 ,0 0 0 S e p t . 1 1 9 3 3
asau m d b y N Y N I I A H .n t f f
N e w H a v e n S t r e e t R R .—
H a r tfo r d
S treet
R y.
n o w f 1900
4 g M -S
2 ,5 0 0 ,0 0 0 S e p t . 1 1 9 3 0
1 st m o r t g a g e . $ 2 ,5 0 0 ,0 0 0 1 C o n n . T r . A
S a fe
D e p . C o ..
H a r tfo r d .
T ru stee. In t. a t N ew Y o rk or B o s to n .
( $ 1 , 0 0 0 ) g ----------------------- c * n t f l
H a r tfo r d S t R y d e h e n “ M " n t f
1 9 0 0 4 J -J 15
1 6 5 ,0 0 0 J a n 1
1930
K a st ls t M 8 f *1
1902 4 M 8 J -J
1 ,9 9 2 ,0 0 0 J a n 1
1943
$ 3 ,1 0 0 ,0 0 0 ( $ 1 .0 8 0 ) — c * t f ( I n t e r e s t a t N e w Y o r k T r u s t C o . . T r u s t e e .
H a r t M a n & R o c k fir s t m t g e
$ 3 0 0 ,8 0 0 ($ 1 ,0 0 0 ) g o l d . n t f
1894 6 A -O
2 0 0 ,0 0 0 O c t 1
1924
M e r id e n H o r s e R a ilr o a d c o n -)
1894 5 g J -J
4 1 5 ,0 0 0 J a n 1
1924
s o lld a te d
m ortg a g e
g o ld [I n t e r e s t a t G ir a r d T r u s t C o . o f P h ila d e lp h ia .
$ 5 0 0 , 0 0 0 --------------------------------- t f )
S ta te T re a s u re r o f C o n n e c tic u t, T r u s te e .
M e r S o u th & C o m p 1st M g ] 1 8 9 8
5 g J -J
1 7 5 ,0 0 0 J u ly 1 1 9 2 8
$ 2 0 0 ,0 0 0 ($ 1 ,0 0 0 ) c *
n tf
O p t io n a l a t 1 1 0 a n d In te re st.
c a lla b le a t 110 s in c e 1 9 0 3 .. I n te r e s t a t T r u s t C o . o f A m e r ic a , N o w Y o r k .
G r e e n w ic h
T ram w ay
fir s t
1901
5 g J -J
3 2 0 ,0 0 0 J u ly 1 1 9 3 1
m tg e
$ 4 0 0 ,0 0 0
($ 1 ,0 0 0 ) I n t e r e s t a t N e w Y o r k T r u s t C o . , N e w Y o r k .
g o l d --------------------------------- c * . n t f
S ta te T re a s u re r o f C o n n e c tic u t, T r u s te e .
S t a f f o r,d S p g s S t R ------------------------------------y 1st M g t f
5 J -J
4 0 0 ,0 0 0 J u ly 1 1 9 5 0
„
,
P r o v i s i o n a l d e b e n t u r e s ...................1 9 1 0
6%
1 ,0 0 0 .0 0 0
T o 1922
B o n d s .— T h e C o n s o l i d a t e d R y . d e b e n t u r e s a r o n o t s u b j e c t t o c a l l .
A ll
t h e d e b e n t u r e s h a v e p r in t e d o n th e ir fa c e th e s t a t e m e n t t n a t I f a m o r t g a g e
I s m a d e o n a n y o r a ll o f t h e c o m p a n y 's p r o p e r t y w h i c h w a s o w n e d o n J a n . 1
1 9 0 5 , e x c e p t t o re n e w e x is t in g m o r t g a g e s , t h e d e b e n t u r e s s h a ll p a r t ic ip a t e
In t h e s e c u r i t y o f s u c h m o r t g a g e .
T h e d e b e n t u r e s d u o In 1 9 3 0 b o r e 3 %
In te re st fr o m F e b . 1 190 5 fo r fir s t 5 y e a r s a n d 3 H % fo r n e x t 5 y e a r s . F r o m
F e b . 1 191 5 t o m a tu r ity b e a r 4 % .
T h e y w e re Issu e d t o p a y fo r a c q u ir in g
th e B e r k s h ir e S t . R y . ( V . 8 0 , p . 4 7 1 ), w h ic h c o . w a s s u b s e q u e n t ly a c q u ir e d
b y t h e N e w E n g l . I n v . & S e c u r it y C o . , t h e n in t u r n r o - a c q u ir e d b y t h e N . Y .
N . H . A n .
T h e $ 3 ,5 0 0 ,0 0 0 d e b e n t u r e s d u e A p r il 1 1 9 5 5 w e r e Issu e d t o a c
q u ir e th o H a r t fo r d S tr e e t R y .
T h e $ 1 0 , 0 0 0 , 0 0 0 d e b e n t u r e s or J a n . 1 9 0 0
w e r e is s u e d t o t h e N . Y . N . I I . A H a r t f o r d f o r a d v a n c e s .
T h e S e r ie s “ A ” e q u i p m e n t n o t e s m a t u r o $ 4 1 ,0 0 0 s - a A p r i l a n d O c t .
T h e S e r lo s “ B " e q u i p m e n t n o t e s a r e s e c u r e d b y e q u i p m e n t , c o s t i n g m o r e
t h a n $ 5 8 0 , 0 9 0 , t h e c o m p a n y p a y i n g m o r e t h a n $ 1 2 0 , 0 0 0 In c a s h .
T hey
m a t u r o 3 4 6 ,0 0 0 s .- a . M a r . a n d S e p t. 15 fr o m 19 1 7 t o 1 9 2 1 .
T a x - f r c o in
C o n n e c t ic u t w h e n h e ld b y in d iv id u a ls .
V. 103, p . 1117.
O f t h e W o r c e s t e r A C o n n e c t ic u t E a s t e r n b o n d s , n o m o r e w ill b o I s s u e d .
A s i n k i n g f u n d o n t h e s e b o n d s c o m m e n c e d In 1 9 0 8 o f n o t t o e x c e e d 1 % o f
b o n d s o u ts ta n d in g .
B o n d s c a n n o t b e c a lle d , b u t m a y b o b o u g h t o n a 3 %
b a s is o r b e t t e r , a n d k e p t a liv e fo r s in k . f d . S e o V . 7 5 , p . 1 2 0 4 .
$ 1 9 4 ,0 0 0
In s i n k , i d . , i n c l . I n a m o u n t r e p o r t e d o u t s t a n d i n g ,
E A R N I N G S .— O f C o n n e c t ic u t C o . fo r y e a r e n d in g D e c . 3 1 ;
D ec . 31
O p e r a tin g
N e t (a f t e r
O th er
I n ter es t,
B a la n c e ,
Y ea r.
R even u e.
T a x e s ).
In com e.
R e n ta ls, A c .
S u r p lu s .
1 9 1 7 ................. $ 1 0 , 0 2 3 , 1 6 2
$ 1 ,6 0 7 ,6 4 8
$ 2 2 0 ,9 2 1
$ 1 .2 0 S ,7 2 1
$ 6 1 9 ,8 4 8
1 9 1 6 . . ----------9 ,5 6 6 ,4 3 5
2 ,5 8 9 .4 4 9
2 7 1 ,5 9 5
1 .7 8 2 ,5 5 6
1 ,0 7 8 ,4 8 8
R O A D . — - C o n n e c t ic u t C o m p a n y o p e r a t e s 7 2 1 .5 5 4
m ile s o f lin o ( o f
w h i c h 4 1 6 . 4 3 6 m i l e s a r e o w n e d , 2 9 4 . 8 5 1 m i l e s l e a s e d a n d 1 0 .2 6 7 m i l e s
o p e r a te d u n d e r tr a c k a g e r ig h t s ), s e r v in g th e fo llo w in g c itie s a n d to w n s :
p i t i e s o f N e w H a v e n , H a r t fo r d , B r id g e p o r t , W a t e r b u r y , N e w B r ita in
M e r id o n , M id d le t o w n , S t a m fo r d , S o u th
N o rw a lk ,
R o c k v lllo , D e r b y
S h e lt o n . A n s o n ia , a n d th e t o w n s o f E a s t H a v e n , B r a n fo r d , N o r t h H a v e n ’
W a llin g fo r d ,
H am den,
O ran ge,
S o u th in g to n .
P la in v llle ,
F a r m in g t o n ’
P o r t la n d , M I d d le fie ld , C r o m w e ll, R o c k y H ill, W e th e r s fie ld , W e s t H a r t
fo r d , B lo o m fie ld ,
W in d s o r, S ta ffo r d , E a st
H a rtfo rd , E a st
W in d s o r.
S o u th
W in d s o r ,
M a n ch ester,
V ern on ,
G la s t o n b u r y ,
G r e e n w ic h
S t r a t fo r d , M ilfo r d , H u n t in g t o n , F a lr fe ld , W e s t p o r t , N o r w a lk , D a r ie n !
N a u g a tu c k , W a te r to w n , M id d le b u r y , T h o m a s to n , T o r r ln g to n , W in c h e s te r .
B e a c o n I 'a l l s , S e y m o u r , C h e s h i r e , N e w i n g t o n a n d B e r l i n , C o n n e c t i c u t .
S ta n d a rd g a u g e .
C a r s o p e r a t e d D e c . 3 1 1 9 1 7 , 1 ,5 7 1 p a s s e n g e r a n d 3 6 0
f r e i g h t , A c . , c a r e : t o t a l , 1 ,9 3 1 .
O F F I C E R S .— P r e * ., L u c iu s S . S to r r s ; V .- P . A G e n . M g r ., J . K . P u n d e r f o r d : S e c . . V i c t o r S . C u r t i s ; T r e a s . , E . T . C h a p m a n : C o m p t . . I . A . M a y a ll
o f N o w H a v e n .— V . 1 0 6 , p . 1 4 6 1 , 1 6 8 8 , 2 5 5 9 ; V . 1 0 7 , p . 1 0 9 9 ?
7
( 1 ) C o n n e c t i c u t R a i l w a y St L i g h t i n g C o .
'V s
D e c . 31 1 9 1 7 , t h o U n ite d G a s I m p t . C o . o w n e d $ 3 ,8 7 4 ,5 0 0 c o m m o n
a n d $ 7 ,1 8 0 ,5 0 0 p r o f, s t o c k .
L e a s e .— L e a s e d f o r 9 9 9 y e a r s f r o m A u g . 1 1 9 0 0 t o t h e C o n s o l i d a t e d R y .
C o . , w h i c h l a t t e r h a s s i n c e b e e n m e r g e d In t h e N . Y . N . I I . A H . R R
Co
R e n t a l a m o u n t e d t o $ 9 7 5 ,0 0 0 fo r t h e y e a r 1 9 0 6 -0 7 a n d I n c r e a s e s g r a d u a lly
u n t il it r e a c h e s $ 1 ,4 5 2 ,5 0 0 in 1 9 2 0 .
T h e c o m m o n s h a r e h o ld e r s p a id th o
C o lo n ia l I r u s t C o ., tr u s t e e , $ 1 0 p e r s h a r e o n th e ir s t o c k , w h ic h
w ith
th e s u r p lu s r e n ta l r e c e iv e d u n d e r th e le a s e , p r o v id e s a fu n d w h ic h
i t is
a n n o u n c e d , is s u f f i c i e n t t o p a y 4 % p e r a n n u m o n b o t h c o m . a n d ’ p r e f .
sh ares.
A ll th e s t o c k a s s e n te d t o th is a r r a n g e m e n t.
P r e fe r r e d s h a r o h?
- w e e d t o a c c e p t 4 % d iv i d e n d s d u r in g t h o t e r m o f t h e le a s o , in s t o a d
of 5% .
V. 84, p. 507.
O n A u g . 15 1 9 1 7 r a to w a s In cre a se d t o 4 y 4 % p er
a n n u m on b o th p r e f. a n d c o m . s to c k s .
P r e f . s t o c k w a s is s u e d in s a t is
fa c t io n o f u n p a id a c c u m u la t io n s o f d iv id e n d s o n p r o f, s h a r e s t o A u g . 1 1 9 0 6 .
[Vol. 107
O R G A N I Z A T I O N . — O r i g i n a l l y c h a r t e r e d In C o n n e c t i c u t J u l y 2 1 8 9 5 a s
th e G a s S u p p ly C o .
C h a rte r a m en d ed a n d n a m e ch a n g e d M a r c h 2 1899 to
O o n n t> ctic u t L ig h t in g A P o w e r C o . , f o r t h e p u r p o s e o f u n it i n g v a r io u s s t r e e t
r a il w a y a n d l i g h t a n d p o w e r p r o p e r t i e s in C o n n e c t i c u t .
N a m e ch an ged as
a t p r e s o n t o n J a n . 10 1 9 0 1 .
V . 7 1 , p . 1209; V . 7 2 , p . 4 4 .
I t Is a c o n s o l i d a tlo n o f th e fo llo w in g c o m p a n ie s :
B r id g e p o r t T r a c t io n C o .
N o r w a lk A S o . N o r w a lk E l. L t . C o .
C e n tr a l R y . A E l. C o . o f N e w B r it .
N o r w a lk S tr e e t R a ilw a y C o .
C h e s h ir e S tr e e t R a ilw a y C o .
N o r w a lk T r a m w a y C o .
D e r b y S tr e e t R a ilw a y C o .
S h e lto n S tr e e t R a ilw a y C o .
G r e e n w ic h G a s A E le c tr ic L t g . C o . S o u t h ln g t ’ n A P la n t s v . T r a m w a y C o .
M ilfo r d S tr e e t R a ilw a y C o .
T h o m a s to n A W a t e r t o w n E le c .R y . C o .
N a u g a t u c k E le c t r ic L ig h t C o .
W a te r b u r y T r a c tio n C o .
N a u g a t u c k V a lle y E le c t r ic R y . C o . W e s t p o r t A S a u g a tu c k S tr e e t R y . C o .
N o r w a lk G a s L ig h t C o .
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g
M a tu rity
C o m m o n s t o c k ( $ 1 0 0 ) __________ ________
$ 8 ,9 7 7 ,2 0 0
Seo tex t.
P r e f 5 % c u m a fte r J a n 1 1904
($ 1 0 0 ) (re d u ce d to 4 % u n
Q -F 15
8 ,1 4 2 ,9 0 0
Seo te x t.
d e r le a s e t o N e w H * v C o . ,
l s t A r e f $ 1 5 ,0 0 0 ,0 0 0 g o l d ) 1 9 0 1
--------4 H g J -J
1 2 ,5 5 1 .0 0 0 J a n 1
1951
($ 1 ,0 0 0 ) s in k in g f u n d . c * t f / I n t . a t E q u it a b le T r u s t C o . , N . Y . . T r u s t e e .
B r id g e p o r t
T r a c tio n
m o r t-j 1893
5 g J -J
7 0 0 ,0 0 0 J u ly 1
1923
g a g a $ 2 ,0 0 0 ,0 0 0 g o ld ( $ l . - l T r u s t c e . F id e lit y T r u s t C o . , N e w a r k . N . J .
0 0 0 ).. —
--------------------------- c * |
In terest a t R e d m o n d A C o ., N ow Y o rk .
C o n n e c t ic u t L ig h t A P o w . n t f 1 8 9 9
6 J -J
2 0 9 .0 0 0 J a n 1
1939
B o n d s —- O f t h e 1 s t a n d r e f u n d in g m o r t g a g e b o n d s , $ 9 1 5 ,0 0 0 r e s e r v e d t o
r e t ir e th e p r io r b o n d s .
T h e r e m a in d e r w a s r e s e r v e d fo r e x te n s io n s o r
b o t t e r n s e n t s . b u t u n d e r le a s e t o t h e N e w H a v e n r o a d c a n n o t b o I s s u e d f o r
a n y p u r p o s e w it h o u t c o n s e n t o f le s s e e .
V . 84, p. 607.
S ta te m e n t to N e w
Y o r k S t o c k E x c h a n g e In V . 7 3 . p . 8 5 2 ; a l s o V . 7 9 . p . 2 7 4 6 ; a l s o V . 8 5 . p . 9 2 1 .
B o n d s w e r e fo r m e r ly n o t s u b je c t t o c a ll , b u t o n J u n e 23 190 4 a s u p p le
m e n ta l m o r t g a g e w a s m a d e g iv in g th e r ig h t to c a ll b o n d s o n a n y In te r e s t
d a t e a t 1 0 5 a n d I n te r e s t a n d e s t a b lis h in g a s in k in g f u n d o f M o f 1 % p e r a n
n u m o n b o n d s o u t s t a n d in g ; b o n d s a c q u ir e d b y t h e s in k in g fu n d a r o t o b o
k ep t , aU ve an d
bear
In terest.
$ 1 ,0 6 8 ,0 0 0
bonds
In
s in k in g
fu n d .
B o n d h o ld e r s a s s e n tin g t o th e s u p p le m e n t a l m o r t g a g e h a d th e ir In te r e s t
g u a r a n te e d b y th e U n ite d G a s I m p r o v e m e n t C o . b y e n d o r s e m e n t.
S co
V . 7 9 . p . 6 2 0 , fo r fo r m o f g u a r a n t y .
O ffe r e x p ir e d O c t . 1 1 9 0 4 a n d w a s
a c c e p t e d b y $ 1 0 ,6 8 2 ,0 0 0 o f o u t s t a n d in g b o n d e .
See V 83 . p . 969.
R O A D . — O w n s 1 7 0 .9 8 2 m ile s m a i n . 8 0 .4 2 7 m ile s s e c o n d a n d 9 .0 9 3 m ile s
s id e t r a c k s ; t o t a l, 2 6 0 -5 0 2 m ile s , r e a c h in g M i l f o r d . B r id g e p o r t . S t r a t fo r d .
S o u t h p o r t , S h e lt o n , D e r b y . A n s o n ia . S e y m o u r , W e s t p o r t , S a u g a tu c k ,
N o r w a l k . S o u t h N o r w a l k , N e w B r i t a i n , D a r i e n a n d S t a m f o r d ; a l s o l i n e s in
N a u g a tu ck . W a terb u ry , A c.
S y s t e m c o n n e c t s w it h t h e F a ir H a v e n A
W e s t v llle R R . In to N e w H a v e n fr o m B r id g e p o r t a n d D e r b y , a n d c o m p a n y
a l i o h a s t r a f f i c c o n t r a c t w i t h t h e H a r t f o r d S t r e e t R y . T or r e a c h i n g H a r t
fo rd .
G a n g e , 4 fe e t 8 )4 In ch e s.
3 5 t o 9 5 - lb . r a ils .
E Q U I P M E N T .— T o t a l c a r s , 4 7 4 ; c lo s e d p a s s e n g e r , 1 9 9 ; o p e n p a s s e n g e r ,
2 0 1 ; m is c e lla n e o u s , 7 4 .
C a r b a r n s , 2 0 ; a ls o 4 c o m p le t e e le c t r ic -lig h t p la n ts ;
a ls o o w n s g a s p la n t a t N o r w a lk a n d o p e r a t e s g a s p la n t a t W a t e r b u r y .
R E P O R T F O R c a l. y e a r 1 9 1 7 a n d y e a r e n d in g J u n o 3 0 1 9 1 6 ;
Y ea r
R e n ta ls A
In t. on
G en era l
S in k .
D iv iB a la n c e ,
E n d in g —
I n t . R e c ’d .
B on d s.
E xp s.
F u n d s.
d e iu ls .
S u r p lu s .
D e c . 31 1 9 1 7 ..$ 1 ,4 1 0 ,0 9 4 3 6 1 0 ,5 4 5 $ 5 ,3 6 8 $ 6 2 ,7 5 5 $ 7 4 2 ,8 7 1 d e f .$ 1 0 ,4 4 6
I d 0 2 ’6 ! 5
0 1 0 .5 4 5
4 ,7 8 5
0 2 ,7 5 5
6 8 4 ,8 0 4
3 9 ,7 5 6
O F F I C E R S . — P r e a ., R . A . O . S m it h ; V . - P . . W a lt o n C la r k : 8 e c . , G . W .
O u rra n ; V .-P . A
T r e a s .. L e w is L illie .
O ffic e , N o w
H a v e n . C o n n .—
V . 84, p . 1366: V . 85, p . 921; V . 86 , p. 228; V . 106, p . 601; V . 107, p . 4 0 1 .
(2 ) W e s t S h o r e R a il w a y .
* O R G A N I Z A T I O N . — O r g a n iz e d D e c . 15 1 8 0 3 .
L e a s e d o n D e c . 14 1 8 9 5
t o W in c h e s te r A r e . R R . fo r 9 9 y ra . fo r in t. o n b o n d s a n d 5 % d lv . o n s t o c k .
L e a s e a s su m e d F e b . 2 8 1910 b y th o C o n n e c t ic u t C o m p a n y , w h ic h o p e r a te s
th e p r o p e r ty .
W a g e A w a r d bu W a r L a b o r B o a r d .— V . 1 0 7 , p . 5 0 3 .
STO C K A N D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity ,
S t o c k . $ 2 0 0 , 0 0 0 ( $ 2 5 ) ................................................................
$ 8 0 ,0 0 0 S e e te x t
R O A D .— O w n s 7 .4 2 m ile s o f t r a c k .
S ta n d a r d g a u g o .— V . 1 0 7 , p . 5 0 3 .
T H E R H O D E IS L A N D C O .
"
C o n tr o l P a s s e s to T r u s t e e s .— O n N o v . 7 1 9 1 4 t h e s e c u r it ie s o f T h e R h o d e
I s l a n d C o . , t h e P r o v l d e u c e a n d D a n ie l s o n R y . a n d t h e S e a v lo w R R . (g e e
V . 9 9 . p . 1 4 5 2 ), fo r m e r ly h e ld b y t h e N . Y . N . H . A H . R R . C o . a n d c a r r y
in g c o m p le t e c o n t r o l o f th e s y s t e m , w e r e tr a n s fe r r e d t o f iv e tr u s te e s a s
r e q u ir e d b y t h e U . S . D e p a r t m e n t o f J u s t ic e .— V . 9 9 , p . 1 4 5 2 .
T hese
t r u s t e e s a r e t o e x e r c i s e t h e ir b e s t e f f o r t t o s e ll t h e s e c u r it ie s o f t h e s e c o m
p a n ie s b y J u ly 1 1 9 1 9 .
T h e tru ste e s a re: R a th b o n e G a rd n e r, T h e o d o r e
F r a n c is G r e e n e , J o h n O . A m o s , J o h n P . F a r n s w o r th a n d C h a s . O . M u m fo r d ,
o f P ro v id e m ce .
S ee N . Y . N . II. A II. R R . sta tem en t a b o v e a n d V . 98.
p . 1000, 1245.
O R G A N I Z A T I O N . — C r e a t e d In 1 9 0 2 b y S p e c i a l A c t o f t h e R h o d e I s l a n d
L e g isla tu r e .
L e a s e s th e U n io n R a ilr o a d C o . , th e P a w t u c k e t S tr e o t R a ilw a y
C o . a n d th e R h o d e Isla n d S u b u r b a n R a ilw a y C o .— se e te r m s u n d e r U n ite d
T r a c t io n A E le c tr ic b e lo w .
T h e R h o d e Isla n d C o . h a s n o b o n d s .
In
J u n e 190 7 p u r c h a s e d th e P r o v id e n c e A B u r r lllv llle S tr e e t R y . . th e C o lu m
b ia n S tr e e t R y . a n d th o W o o n s o c k e t S t r e e t R y . c o m p a u to a . V . 8 4 , p . 1 3 6 8 .
I n J u n e 1911 le a s e d th o P r o v l d s n c o A D n n ie ls o n R y .. th o S e a v le w R R .
a n d N a r r a g a n s e t t P ie r R R . ( t h o la s t m e n t io n e d w a s t a k e n o v e r b y t h o
U . S . R a ilr o a d A d m in is t r a t io n o n A u g . 1 1 9 1 8 )— s c o te r m s u n d e r s o p a r a to
c o m p a n ie s b o lo w .
V . 92, p. 1566.
F r a n c h is e .— O n M a y 2 7 1 9 1 2 e n t e r e d I n to a n a g r e e m e n t w it h c i t y o f
P r o v id e n c e g r a n t in g th o c o m p a n y a 2 0 -y e a r fr a n c h is e fr o m J u ly I 1912
l , n ? ,e f J r e g l , I a t l o n s M t o o p e r a t i o n s , e q u i p m e n t , A c . , p r i n c i p a l l y m o n t l o n o d
In V . 9 5 , p . 6 1 9 .
F a r e s .— I n A p r il 1 9 1 7 t h o c o m p a n y a c c e p t e d t h o p r o v is io n s o f a n A c t
p a s s e d b y t h e G e n e r a l A s s o m b ly a n d s ig n e d b y th o G o v e r n o r c a llin g fo r a n
in v e s t i g a t i o n o f t h o c o . ’s a f f a i r s a n d t h e a f f o r d i n g o f f i n a n c i a l r e li e f i f
fo u n d ju s t.
T h o s p e c ia l c o m m it t e e a p p o in t e d t o m a k e th o I n v e s tig a tio n
s u b m i t t e d i t s r e p o r t in M a r c h 1 9 1 8 ( V . 1 0 6 , p . 1 1 2 7 ; s e e a l s o V . 1 0 5 . p .
2 0 9 0 ) . r e c o m m e n d in g , a m o n g o t h e r t h in g s , a m o d if ie d z o n e s y s t o m . w it h
c e r ta in ta x , fr a n c h is e a n d o t h e r r e fo r m s .
A s p e c ia l le g is la tiv e c o m m it t e e
w a s a p p o in t e d t o o x a m in o t h e c o m m is s io n ’s r e p o r t , w h ic h lt f a ile d t o a p
p r o v e , r e c o m m e n d in g in s t e a d a 0 - c o n t fa r o .
T h e R h o d e Isla n d P . U .
C o m m ., h o w e v e r , d e c la r e d t h a t a fla t 6 -c o n t fa r o w a s u n ju s t a n d in e q u it a b le
a n d o r d e r e d t h o e s t a b lis h m e n t o f a m o d if ie d z o n e s y s t o m w h ic h w ill in c r e a s e
c h a r g e s o n lo n g r u n s , th e e x te n s io n o f tr a n s fe r p r iv ile g e s , r e r o u tin g o f
s e v e r a l lin e s in P r o v i d e n c e . A c .
V . 106, p. 1127.
T h o It. I. L e g is la t u r e
a l s o f a v o r e d t h o z o n e s y s t e m a n d In A p r i l 1 9 1 8 a u t h o r i z e d t h o c o . t o p u t
It in t o e f f e c t M a y 5 1 9 1 8 .
In A u g . 191 8 w a s a u t h . b y th o I .- S . C . C o m m ,
t o a d o p t z o n e fa r e s b s t w e e n P r o v i d o n c o a n d M a s s a c h u s e t t s p o in t s .
V.
107, p. 803, 906.
In S e p t. 1918 a p p lie d t o th o R h o d e Isla n d P . U . C o m m ,
f o r a u t h . t o in c r e a s e fa r e s s u f f ic ie n t t o p r o d u c o $ 1 ,9 0 0 ,0 0 0 p e r a n n u m
a d d itio n a l r e v e n u e .
T h o a p p l ic a t io n c a lls f o r a r e d u c t io n o f th o p r e s e n t
5 - c e n t z o n o f r o m 2 J-J t o 2 m i l e s a n d t h o e s t a b l i s h m e n t o f a s e c o n d 5 - c e n t
z o n o 1 % m i l e s in l e n g t h , a l l z o n e s b e y o n d t h i s t o b o l ' A m i l e s in l e n g t h
w i t h a 5 - c e n t f a r o in e a c h .
V . 107, p . 1193.
STO C K A N D BONDS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
1 9 1 3 .6 %
S t o c k , p a r $ 1 0 0 - . ................- ....................- ..................................... $ 9 , 6 8 5 , 5 0 0
N o t e s g o l d ($ 1 ,0 0 0 ) c .
C a ll-/ 1916
5 g M -S
1 .6 6 2 ,0 0 0 M a r . 1 1 9 2 1
a b l e a t 1 0 1 a n d i n t ----------------l i n t , a t I n d u s t r i a l T r u s t C o , .
P r o v ., tru s te e
L o a n s a n d b ills p a y a b l e J u n e 3 0 1 9 1 8
........................... * 3 . 7 4 6 , 0 3 7
.......... .................
* $ 3 ,4 5 8 ,8 8 7 a b o v e n o t o s w e r e h e ld b y N . Y . N . H . A H . o n J u n o 3 0 1 9 1 8 .
G o ld N o t e s . — S e c u r e d b y $ 2 , 0 7 8 ,3 0 0 p a r v a l u e o f U n i t e d T r a c t i o n A E le c .
C o . s t o c k . S e e o f f e r i n g in V . 1 0 2 . p . 2 2 5 5 .
T a x - e x e m p t In I t h c U e I s l a n d .
R O A D . — T h e R h o d e I s l a n d C o m p a n y o p e r a t e s 3 0 2 .5 7 m il e s o l lin e
(3 5 4 .1 6 s t r e e t r a ilw a y a n d 8 .4 1 m ile s s t e a m r a i l r o a d ) , o f w h ic h 3 9 .9 3 m ile s
a r o o w n e d a n d 3 2 2 .6 4 m ile s a r e le a s e d
I t s e r v e s th o c itie s o f P r o v i
d e n c e , P a w t u c k e t . C e n tr a l F a lls . W o o n s o c k e t a n d O r a u s to n
in
R hode
Isla n d a n d D a n ie ls o n , C o n n ., a n d th o to w n s o f W a r w ic k , N o r t h P r o v i
d e n c e . E a s t P r o v i d e n c e , J o h n s t o n , S m lt h fie ld , N o r t h S m t t h fic ld , I lu r r lllv llle , C u m b e r la n d , L in c o ln , B a r r in g to n , C o v e n t r y ,
S c itu iito , W a r r e n ,
B r is t o l. E a s t G r e e n w ic h , F o s t e r , N o r t h K in g s t o n . S o u th K in g s to n a n d
N a rra g a n se tt.
T h e tu n n o l fr o m N o r t h M a in S t . t o T h a y u r S t. w a s o p e n e d
In A u g . 1 9 1 4 .
V . 99. p. 539.
I t s e q u ip m e n t c o n s is t s o f 1 ,0 1 0 p a s s e n g e r
c a r s , 9 6 fr e ig h t c a r s a n d 173 m is c e lla n e o u s c a r s : t o t a l , 1 ,2 7 9 .
E A R N I N G S .— F o r y e a rs e n d in g D e c . 3 1 :
Y ea r en d .
O p e r a tin g
N e t (a f t e r
O th er
In ter es t.
B a la n c e .
D ec. 31—
R even u e.
T a x e s ).
In com e.
R e n ta ls, e t c .
S u r p lu s .
1 9 1 7 ................ $ 6 , 0 0 0 , 6 0 2
$ 8 2 6 ,3 5 0
$ 1 1 5 ,4 8 2
3 1 ,4 5 4 ,0 8 1 d f .$ 5 1 2 ,8 4 9
i O l D - - - - - - ^. « 11 1 . 5 8 5 , 7 0 4
1 1 8 ,9 6 5
1 ,4 0 1 ,4 1 0
3 0 3 .3 1 9
O F F I C E R S .— C h a ir m a n o f th e B o a r d , R a t h b o n e G a r d n e r ; P re s. A G e n .
M g r ., A . E . P o t t e r .— V . 1 0 2 , p . 2 6 1 , 2 2 6 5 ; V . 1 0 5 , p . 1 8 9 8 , 2 0 9 0 , 2 0 9 5 ;
V . 106, p. 1127. 1578, 1689: V. 107, p . 297, 8 0 3 , 906, 1193.
(a ) U n ite d
T r a c tio n A E le c t r ic .
•(
O R G A N I Z A T I O N . — U n i t e d T r a c t i o n A E l e c t r i c C o m p a n y , c h a r t e r e d In
N e w J e r s e y , o w n s th e U n io n R a ilr o a d G o . o l P r o v id e n c e , th o P a w t u c k e t
Sept ., 1918. |
ELECTRIC RAILWAYS
Street Ry. Co. and the Rhode Island Suburban Ry. C o., and thus control*
the entire street railway system of the cities of Providence, Pawtucket and
Central Falls, and of the counties of Kent, Washington, Uristol and Provi
dence.
The Union Railroad Co. and the Pawtucket Street Railway Co. have
been leased for 999 years from Juno 24 1902 and the Rhode Island Subur
ban Railway Co. has been leased for 999 years from June 30 1904 to Th«t
Rhode Island Co. for an amount of rental permitting the United Trac. A
Electric, the owner of the shares of the three leasing companies, to pay It*
yearly fixed charges and dividends of 6 % on Its stock.
For statement as to the relation of this company to the Rhode Island
since the five trustees have acquired control of the former company, sc*
V. 99. p. 1599 l
STOCK AND BONDS— Date.
Interest. Outst'd'g Div .Mat.. A t
Stock - --------------------------------------6 Q-J
$8,000,000 JulyT 8 ,lH %
United Trac A Elec Co, Provl 1893
5 g M-S
9,000.000 Mar 11933
& Paw issue, 1st (coll) ^Interest at Central Trust C o., N. Y ., Trust©*
mtge ($ 1 ,0 0 0 ), gold_ ntfj
_
Dividends.— Company started paying dividends with 1% In 1897. In
18983% was paid; In 18 99,3 }*% ;in 1900,4% ;in 1901.4% ;ln 1902.4}*%
1903 and since. 5% per annum.
SECURITIES PLEDGED.— The bonds are secured by the pledge of the
following securities deposited with the Central Trust Co. of N. Y ., ns trustee
of the bondholders: All of the $9,000,000 capital stock of the Union RR.
of Providence,, all of the $500,000 capital stock of the Pawtucket Street Ry.
(no bonds) and all of the $3,000,000 first mortgage bonds of the Union RR.
of Providence. Also, through the ownership of the Union RR. C o., $299.
800 of the $300,000 capital stock, being all but 2 shares, of the Providence
Gable Tramway Co. (no bonds). The Providence Cable Tramway Co. la
leased to the Union RR. Co. for 60 years for 6 % on its capital stock.
TREASURY SECURITIES.— The United Traction A Electric Co. ha*
In It* treasury the entire capital stock ($5,000,000) of the Rhode Island
Suburban Ry. C o.— V. 89. p. 105; V. 99, p. 1599: V. 105. p. 2095.
(b) R hode Island Suburban Railway.— A trolley road
ORGANIZATION.— Chartered June 2 1899 by the Legislature of th*
State o f Rhode Island with power to construct, purchase, lease or operate
trolley roads In any part of tho State, except Newport County. By the
terms of its charter It la vested with the power of eminent domain, and th*
right to transport passengers, freight, express matter and United State*
mall In any territory where It is authorized to do business. Leased to
Rhode Island Co. June 30 1904.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock, $5.000,000........................ ..............................$5,000,000 ................... ..
First mortgage ($ 1 ,0 0 0 ), guar( 1900
4 g J-J
4.682,000 Jan. 11950
prln and lnt, $5,000,000,1 Union Trust C o., Providence, Trustee.
gold__________ _____ ___ c*llnterest at office of the Ry. C o., Providonoe.
The United Traction A Electric Co. own* the entire capital stock and
guarantees the bonds, principal and Interest.
Bonds.—There are reserved In the hands o f the trustee $318,000 to take
up and retire $247,200 5% gold first mortgage bonds of the Pawtuxet Valley
Electric Street Ry. Co. and $69,000 6 % gold first mortgage bonds or tho
Cumberland Street Ry. C o., tho former Issue being guaranteed, principal
and Interest, by the United Traction A Electric C o., 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 Ry. C o.,
3.985 shares of the Pawtuxet Valley Electric Street Ry. Co. and 5,000
shares of tho Barrington Warren A Bristol Street Ry. Co.
ROAD.— Consists of 66.12 miles of lino.
(c) Providence A Danielson Railway Co.— A trolley road.
On Juno 30 1918 Now England Nav. Co. owned $913,200 stock. In
April 1917 tho entire $600,000 1st 5s wore transferred to tho N. Y. N. II. A
II. RR. Co. See tomarks above under Rhode Island Co. concerning
transfer of control to trustees.
Lease.— Is leased to Rhode Island Co. for 999 years from June 30 1911;
lessee to pay 1% on stock. Interest, taxes and all charges. V 92, p. 1501.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $1,000,000 ($ 1 0 0 )..-.................................$1,000,000
1st M $600,000 gold ($1,000)1 1901
6 g M -N
600.000 M ay 1 1931
No 8 f and not callable.ntf (lnt. at Industrial Tr. C o., Providence, Trus.
ROAD.— Operates from Provtdence-Johnston line, R. I., to East KHllngly. Conn., and Centredale to Chepachet, R. I., 35.67 miles; 60-lb. T
rails: standard gauge.— V. 90. p. 447; V. 92, p. 726, 1501.
(d) Seaview Railroad.
On Juno 30 1918 Now England Nav. Co. owned 7,000 shares of stock.
In April 1917 tho entire $600,000 1st 5s wero transferred to tho N. Y . N. II.
A II. RR. Co. Soe Rhode Island C o. (above) regarding transfer o f control
to trustees.
•
Lease.— On June 30 1911 was leased to Rhode Island Co. for lnt. on bonds
and dividends on stock of 1% in 1912 and 1913; 2% In 1914, 1915 and
1916; 3% In 1917. 1918 and 1919; 4% In 1920 and 1921; 5% in 1922 and
yearly thereafter. V. 92. p. 1501.
ORGANIZATION.— Incorporated In Rhode Island on July 28 1887.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
_______
$700,000
Stock..................................................First mortgage $1,000.0001 1898
5 J-J
600,000 July \ 1948
gold ($1.000)............ . . n t f /Equitable Trust C o., New York, Trustee.
ROAD.— Operates 19.24 miles or road between East Greenwich and
Wakefield.— V. 92. p. 726, 1501.
(e ) Nnrragansett Pier R ailroad.
Government Operation.-—On Aug. 1 1918 tho co .’s lino was taken over for
operation by tho United States Railroad Administration.
ORGANIZATION.— Is toased to Rhode Island Co. for 99 years from
June 1911; lessee to pay lnt. on bonds and 4% on stock. Stock, $133,800.
First M . 5s. $70,000. due Aug. 1 1936 (replacing$70,000 4s duo Aug. 1 1916)
lnt. F.-A. at Rhode Island Hospital '1 rust C o., Providence, trusteo. Ex
tends from Narragansott Pier to Kingston. 8.41 m. Is oporated by stoam.
BERKSHIRE STREET RAILW AY.
Proposed Sale of Stock — The entiro capital stock of the Berkshire St. Ry.
and 6,500 shares of stock of the Vermont Co. (see below) owned by the
New Haven Co.. Is to be sold before July l 1 9 1 9 , provided sale Is authorized
by tho State of Massachusetts or the Court.
On June 30 1918 N. Y. N. II. A II. owned all the stock, tho entire ($200.
000) Issue o f debentures and $3,357,500 notes.
ORGANIZATION.— Incorp. In Mass, on Juno 20 1901. Franchise per
petual. In 1906 absorbed the Hoosac Valley St. Ry. through exchange of
stock. In May 1910 took over the Pittsfield Elec. St. Ry.. Issuing $300,000
stock In exchange for stock of that company. V. 90, p. 1295.
In March 1912 Mass. RR. Commission approved tho 99-year lease of the
Vermont Co. to the Berkshire Street Ry.
On Feb. 1 1913 began operation of Hoostck Falls RR. under agreement
with Vermont Co., to which tho Hooslck Falls RR. was leased.
On Doc. 30 1916 the P. S. Comm, o f Mass, ordered tho co. to complete Its
Lee-IIuntlngton lino. Tho entire lino, 23.84 milos, was placed in operation
Aug. 16 1917.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
- ...........
$5,398,100 ...................
Stock $5,398,100 ($100).............. ..
First mortgage $800,000 gold! 1902
5 g J-D
800,000 June 1 1922
($1,000)...................c*.ntffO lrard Trust C o.. Philadelphia, Trusteo.
5 g M-S
Berkshire Stroot Ry d e b .-t f- 1905
200.000 Mar 1 1925
4 _ M-S
g
Hoosac Valley ref mtgo $400,-\ 1904
.
______ _______1_____
300.000 Sept
1924
000 gold ($1,000)____ n tf/In t. at Berkshire L. A Tr. C o., Plttsf., Trus
1904
4 _ J-J
g
___________ _ ______
Pittsfield Elec St Ry 1st m t g e l __
300,000 July 1 1923
g $300,000 ($1,000)-c » . n tf lint, at Berkshire L. A Tr. C o., Plttsf., Mass.
Due N Y N II A II RR Juno 30 1918....................... 3.357,500 ...............
Bonds.— The Berkshire St. Ry. Is® M . are not subj. to call. Int. payable
and bonds may bo registered at office of N . W. Harris A C o., Boston,
Tho Berkshire St. Ry. debs, are guar, by Consolidated Ry. Co.
EARNINGS.— For yearsending Dec. 31:
Dec. 31
Operating
Net (.after
Other
Interest.
Balance,
Year—•
Revenue.
Taxes).
Income. Rentals, A c.
Deficit.
1917............$1,058,724
$46,739
$36,808
$317,908
$234,361
1916 .............
999.886
184,918,
, 2,269
316,667
129,480
ROAD.— Operates 173.337 in. of lino (145.324 owned and 28.013 leased)
aorvlug the cities of Pittsfield and North Adams and the towns of Wllllamstown, Clarksburg. Adams, Cheshire, Lanesboro, Dalton, Lenox, Hinsdale,
Lee, Stockbrtdgo, Groat Barrington, Egromont and Sheffield, Mass, Pownal, Bennington and Shaftsbury. Vt., and Hooslck Falls, N. Y. 143
pnssonger and 33 other cars.
OFFICERS.— Pros., Howard Elliott; V .-P., L. S. Storrs; Clerk A M gr.,
O. Q. Richmond; Treas., A. E. Clark; And., I. A. M ay.— V. 96. p. 1088.
1627; V. 98, p. 999; V. 99, p. 195; V. 106, p. 1688; V. 107, p. 290.
(1) Vermont Company.
Lease.— Is leased to the Berkshire St. Ry. for 99 years from Feb. 1 1911.
Owns 20.46 miles of lino (serving Bennington and Pownal). being that part
75
of the former Bennington A North Adams St. Ry. lying within the State
of Vermont. Also owns the stock of the Hooslck Falls Ry. On June 30
1918 the N. Y . N. H. A H. owned 6,500 shares of stock and $846,000 1st
M. bonds (tf).
(a) Hoosick Falls R ailroad.
Incorp. In 1910 to acquire that portion of the former Bennington A North
Adams St. Ry. lying in New York State. On Feb. 1 1913 was leased to
the Vermont Co. for 99 years but is being operated by the Berkshire St. Ry,
by agreement. All the stock is owned by Vermont Co. Owns 7.55 miles
of line serving towns of Walloomsic, North Hoosick and Hoosick Falls.N.Y.
NEW Y O R K & STAMFORD RAILW AY CO.
The New Haven Co. Is to sell on or before July 1 1919, pursuant to the
decree of the U. S. Govt., 5.000 shares of the stock and $678,000 bonds.
The New Haven company Intends merging this company with the Westches
ter Street R R . and the Shore Line Electric R R . and will dispose of all the
securities whenever a reasonable price may be realized.
On June 30 1918 N. Y. N. H. A H. owned entire capital stock and the
$204,872 notes.
ORGANIZATION.— Chartered In New York on Aug. 3 1901 a s a con
solidation of Port Chester Street Ry. and Larchmont Horse Ry.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $500,000................................ ...................
$500,000 In '11-12 3J*
First mtge $450,000 ($1,000)1 1901
5 g A-O
426.000 Oct 1 1931
gold---------------------- c * .n t f (Int. at New York Trust C o.. N. Y ., Trustee.
First A ref mtge $2,000,0001 1908
4%
925,000 Nov 1958
gold___________________ tf/G u ar., p. A I by N. Y . N. H. A Hartford.
N Y A Stamford Ry notes___ ___
___ ..
204.872 ...................
EARNING S.— For year ending Dec. 31:
Dec. 31
Operating
Net (after
Other
Interest,
Balance,
Year—
Revenue.
Taxes).
Income. Rentals,Ac.
Deficit.
1917.........
8394,260
$36,118
$665
$95,801
$59,018
1916----------------------- 357.816
62,201
______
______
540
95,824
33,082
ROAD.— Operates 37.675 miles of line (of which 24.274 milesareowned,
7.563 leased and 5.838 operated under trackage rights), serving cities of
Stamford, Conn., and New Rochelle, N. Y ., and towns of Greenwich,
Conn., and Rye, Port Chester, Harrison and Mamaroneck, N. Y . 80 pass,
aDd 8 other cars and 3 snow-plows.
OFFICERS.— Pres., Howard Elliott; V .-P ., L. S. Storrs; Sec.. A. E.
Clark; Treas., A. S. M ay; Aud., I. A. May; Gen. M gr., J. K . Punderford.
WESTCHESTER STREET RAILROAD.
Under the decree of the Federal Court the N. Y . N . H. A H. must sell
the 7,000 shares of stock and $222,000 bonds owned by it on or before
July 1 1919.
The New Haven Co. Intends to merge this company with the N . Y . A
Stamford Ry and Shore Line Elec. RR. and to dispose of all the securities.
ORGANIZATION.— Incorporated In New York on Dec. 1 1909 as suc
cessor to the Tarrytown White Plains A Mamaroneck Ry. sold at fore
closure (V. 89, p. 1282) In three sections, two of which form the road of thl>
company. V. 89, p. 1484. On July 1 1913 commenced operation of line
of Shore Line Electric R R . Co. under lease. 1.466 miles In village of
Mamaroneck. Standard gauge; 70-lb. and 125-lb. rails.
Temporary Fare Increase.— In May 1918 tho White Plains authorities
granted the company permission to charge a 6-cent fare during the months
of June and July.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $700,000.....................All owned by the N. Y . N. H. A H. R R . Co.
First mtge $2,000,000 gold! 1914
5 g M-S
$386,000 Sept 1 1944
($1.000)_______________c ’ fln t. at Farmers’ L. A Tr Co., N. Y ., Trus.
Bonds.— Subject to call at 102 from Sept. 1 1915 on 60 days’ notice.
Remaining $1,614,000 Issuable only to reimburse the company for cost of
future additions. Improvements, Ac.
EARNINGS.— For year ending Dec. 31:
Dec. 31
Operating
Net (after
Other
Interest,
Balance.
Year—
Revenue.
Taxes).
Income. Rentals.Ac. Deficit.
1917 . . . . ____ $246,023
def.$80.05I
$346
$27,284
$106,989
1916 ................. 225.734
def. 16,659
313
22,032
38,379
ROAD.— Operates 29.663 miles of line (22.030 m. owned, 1.466 m. leased
and 6 .167 m. under trackage rights) serving city of M t. Vernon and towns of
Tarrytown, Elmsford. Greenburg, White Plains, Harrison. Scarsdale, Eastchoster and Mamaroneck. N. Y. Has 37 passenger cars and 9 others.
OFFICERS.— Same as for N. Y . A Stamford Ry. Co. above.— V. 98,
p. 1246; V. 99, p. 895, 1912; V. 100, p. 644; V. 106, p. 2451.
SHORE LINE ELECTRIC R R .—
For statement of this co. see “ Electric Ry. Section” of May 25 1918.
NEW YORK WESTCHESTER & BOSTON R Y .— An electric road.
On June 30 1918 the N. Y. N. H. A H. owned $4,984,938 stock.
ORGANIZATION.— Incorp. June 8 1915 as a consolidation of the West
chester Northern R R . and the old N. Y . W. A B. R y. (See this Section
for Sept. 1915.) The franchise to operate in N. Y . City was signed by
Mayor McClellan on Aug. 2 1904. V. 79, p. 628. Lines from 180th St..
New York, to New Rochelle and from Mount Vernon to White Plains put In
operation on May 29 and July 1 1912. respectively, and from Harlem Rtver
to 180th St., New York, on Aug. 3 1912. V. 94, p. 1508. 1627; V. 95,
p. 48. 298.
On July 26 1911 Pub. Serv. Comm., 2d Dlst., auth. $20,100,000 1st M .
bonds (total auth. issue, $60,000,000), of which $17,200,000 were issued
forthwith. V. 93, p. 286. The remaining $2,900,000 bonds under this
authorization were Issued from time to time for the construction of the
White Plains Branch. On April 2 1913 the P. S. Comm, granted permission
to issue $6,044,000 additional 4)4% bonds, proceeds to be used for con
struction of main line double track from New Rochelle to Port Chester and
for completion of White Plains Branch. V. 96, p. 1089. Of these bonds,
$744,000 have been Issued for construction of main line and $546,000 for
White Plains Branch.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $6,000,000 ($100)__________ ____________
$5,005,250 ...................
First mtge $60,000,000 goldT 1911
4 >4 J-J
21.390.000 July 1 1948
Series 1 (see text)_____ tf (Int. on $ bds. In N. Y .; on £ bds. In London.
.......... . . 11,216,756
...............
Due N Y N IT A II RR June30 1918
Bonds.— Remaining bonds are reserved for construction. Par, c*’
$1,000, or £200 and £100; r*. $1,000 and multiples. Bonds of £200 or
multiples convertible Into $ coupon bonds at $4 85 per £, with adjustment
of Interest at current exchange rates. Any series or not less than $5,000,
000 of one or more series, redeemable on any lnt. date at 110. Guaranty
Trust C o., N. Y ., trustee. Bonds are unconditionally guar., p. A 1., by
endorsement by N. Y . N. H. A Hartford RR. Soe V. 93, p. 346. Bonds
are listed on N. Y . Stock Exchange. V. 94, p. 768.
EARNINGS.— For year end. Doc. 31:
Cal.
Operating
Net (after
Other
Interest,
Balance.
Year—
Revenue.
Taxes).
Income. Rentals. A c.
Deficit.
1917 ...................$555,414 dof.$32,513
$10,733 $1,609,126 $1,630,906
1916 ................. 564.654 def. 26.739 46,950
1,563,46
1,543,249
Latest Eearnings.— 6 mos. end. June 30:
1918 ...........
$269,268 def.$22,930
$1,864
*348.103
69.169
1917 __________ 274*446 def. 2,778
6.203
*51,765
48,340
* Excludes interest on bonds charged income and paid by tho N. Y . N. II.
A II. RR. Co. under guaranty; also interest on notes held by tho N. Y .
N. II. A H. RR. Co. not credited to the income of that company.
ROAD.— Total miles of road operated, 21.44 miles. Lino commences at
ITarlom River Station of the N. Y. N. H. A H. In N . Y ., extending to
174th St. Junction, where the N. Y . W. A B. Ry. diverges from the New
Havon and on Its own four tracks extending northerly to lino of N. Y. City,
t.hon through Mt. Vernon to Columbus Ave. June., at which point the line
diverges Into two double track lines, one extending through Mr. Vernon.
Pelham and New Rochelle to Larchmont June., 2.16 miles; the other line
extends from Columbus Ave. June, to White Plains, passing through M t.
Vernon, Eastchester, New Rochelle, Scarsdale and White Plains. See
also V. 93. p. 346: V. 79, p. 501: V. 97. p. 1824; V. 106, p. 1689.
OFFICERS.— Pres., Loverett S. Miller, N. Y .: V.-P., Howard Elliott.
— V. 97, p. 1824; V. 98, p . 1538; V. 100, p. 1919, 2011.
•
N E W O R L E A N S, LA.
NEW ORLEANS RAILW AY & LIGHT C O .— (S c map on page 76.)
In July 1911 American Cities Company (see below) acquired control
per plan under caption of Amer. Cities Ry. A Lt. in V. 92. p. 1373. 1434.
ORGANIZATION.— Incorporated In Louisiana on June 12 1905 as a re
organization of tho New Orleans Rys. Co. per plan In V. 80, p. 651. Old
common stockholders paid an assessment or $10 per share and received $10
new preferred and $35 new common; old preferred paid $20 assessment
and received $20 in new preferred and $100 In new common. Comprise*
all tho street railway, gas, elecfic lighting and power business (with the
ELECTRIC RAILWAYS
exception of that furnished by the Consumers El. Lt. & Pow. Co., to which
the co also furnishes power under a favorable contract) of New Orleans.
Stock and bonds were listed on N. Y. Stock Exchange in Juno 1906 and
JUOn Doc.' 31V 19817 owned7th^'fo»6wlng6
stocks.
amounts outstanding of each issue:
q'mnTTS__
We show also the total
Amoun<
Owned by
Issued.
N.O.Ry.A
Lf. Co.
4,600.000
N . O. & Carrollton R B . Lt. & P. C o., preferred __ 4,600,000
2,498.900
.•
•
•
•
•
“
•
•
•
• common___ 2,500,000
952,100
St. Charles Street R R . C o -----------------------------------234.350
Orleans R R . C o .............................- .............................
234.700
349,300
N . O. S Pontchartrain R R . C o----------------------------c
349,800
5.211.200
N .O . Gas Light C o . . .............h......... - - ................. — 5 *?g0-000
99.300
Jefferson & Lake Pontchartrain Ry. Co-------------- 100•000
.............................................................................. $21,487,800 521.282.250
The New Orleans City RR. is leased until Dec. 3119551to the New Orlcant
R y. & Lt. Co. for 5% on the pref. stock and H % until Jan. 1 1908 and 1%
semi-annually thereafter on tne common stock.
Proposed Consolidation.— On May 22 1916 the stockholders of the New
Orleans Ry. & Lt. Co. and the various controlled cos. voted to consolidate
under the same name and with the same capitalization as the present New
Orleans Ry. & Light C o., but an injunction was secured by cortain stock
holders of the N . O. City RR. restraining the merger. On Aug. 1 1917 this
injunction was dissolved by Judge Poster in the U. S. District Court at
New Orleans. The Court, however, retained Jurisdiction of tho suit in
order to pass upon the question as to whether the minority stockholders
have boon accorded proper treatment. V. 105, p. 819. It is planned to
have the consolidated company own all the physical properties now operated,
and the stock of the New Orleans Gas Light Co., which for legal reasons
cannot become party to tho consolidation.
Franchises.— The N. O. City UK. Co. franchises expire from 1943 to
1962, except one expiring in 1918: the N. O. & Carrollton fran
chises expire in 1933: the St. Charles St. R R . franchises expire in 1956 and
the Orleans RR. Co. franchises expire In 1951. Gas franchise is perpetual
and is exclusive until 1925. Electric light franchise Is perpetual; under
contract with city fixing rates. &c., entered into Dec. 1915 (V. 101. p. 2072),
the city has the right to establish a municipal electric light plant after Dec.
1925 but should lt elect to do so It must take over all street Installations
made b^ tho co. in^thedast 5 years at cost, less 5% per ann. for deprecia
t i o n Oct. 27*il?16 renewed contract with City of Now Orleans for lighting
for 10 years from completion of system provided therein, which was nearing
C
°ipaM lTwwd%*NaUonal War Labor Board.— See V. 107, p. 1004, 1101.
Extension of Notes.— In Juno 1918 holders of tho $4,000,000 6% deben
tures duo Juno 1 1918 were requested to oxchango same on a $ for $ basis
for now 1-year 7% notes duo June 1 1919, but callable at 100 and int. on
30 days’ notice. V. 106, p. 2649. Tho War Finance Corp. agreed to loan
tho co $1 000,000 to reimburse tho treasury for necessary capital expendi
tures paid for out of earnings provided tho extension of the debentures was
i n t e r e s tP a y m e n ts . —July 1 1918 coupons on tho company’s Gen. Mtgo.
414%
bonds and on tho bonds of t h e ft . O. City RR. and N. O. City &
Lake RR woro mado payablo on presentation on Aug. 1 1918 with interest
for ono month. Tho Aug. 1 interest on tho N. O. & Carrollton R y., Lt. &
Row. Co. was paid promptly. V. 107, p. 501, 604.
Agreement with Citu.— As a result of negotiations with tho city following
tho company’s inability to pay off its 2-year debentures duo Juno 1 1918,
tho company and tho city havo entered into an agreement which provides:
(a) that tho Mayor, Commissioner of Public Utilities and tho Commissioner
of Public Property bo included on tho board of directors; (5) that a manager
bo appointed by the city to have direct supervision over tho properties,
subject to control of tho board of directors; (c) tho city is to provide sufficient
rovenuo to pay int. on existing bonded and other indebtedness, exclusive of
stock issues, ponding a valuation of tho co. s property; (d) city to havo the
option of purchasing tho properties at tho agreed valuation until two yoars
after tho war; (e) for tho period of this option, or until such time as it is
availed of by the city, tho city will fix rates as required to take care of oper
ating costs, lncl. adjustment of wages and permit a return of 6% on the
valuo fixed to insure tho payment of all interest on outstanding bonds or
other obligations. (/) if at tho expiration of tho option period the city elects
not to avail itself or its rights, then tho city’s right to select tho Manager
shall ceaso, but the city’s representation on tho board shall continue. The
city shall bo obligated to establish such ratos and charges as will assure tho
ownors of tho properties a return of not loss than 7% of tho established
values
If the returns are in oxcess of 7 % tho said excess shall bo divided
equally botweon tho co. and tho city up to an amount which would oqual
8% return on tho established values, any excess over which shall be divided
75% to tho city and 25% to the company. V. 106, p. 2649.
,
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Common 520,000,000 (5100) - - .............................. 520.000,000
See text
Pref 5% 510.000.000 (5100)/
nnn
a
•“
5 Q-M
10,000,000
See text
non-cumulatlve--------------- ------4H g J-J 17,544,000 July 1 1935
N O Ry & Light Co gen mort 1905
gage 530.000.000 gold (5L- Interest at Now York Trust C o.. Trustee, or
at office of company.
5 g M -N
6,079,700 Nov 1 1949
N O Ay "IfcLt Co "ref and gen 1909
c
lien mtgo $50,000,000 ($1, Int. at lllbernia Bk. S Tr. C o., New Orl.,
Trustee, or at Guaranty Trust C o., N. Y.
000 S 8100) gold........ c*tf
c
7%
4,0(30,000 Juno 1 1919
One-year notes
- - - - - 1918
4-5 g J-J 3.200.000 July 1 1943
N O City gen mtg 53.250.000 1898
gold (51.000)...............c*tf Int. payable at office of company.
Fidelity Trust C o., Louisville, Trustee.
2,453,500 Jan 1 1943
New Orleans C it y * Lake 1st 1893 5 g J-J
mtgo for $5,000,000 gold Subject to call for sinking fund at 110.
(5500 and 51.000)------ <*f Columbia Trust C o., Louisville, Trustee.
*t Interest payable at office of company.
5 g J-J
200.000 July 1 1943
N O Power-house mortgage 1901
gold 5200,000 (5 1 .0 0 0 )-c t f Fidelity Trust C o., Louisville, Trustee.
Interest at office o f company.
6 F-A
2.000,000 Feb 1 1933
N O & Oar con M $2,000,000 1899
($500 S 51.000).......... -n tf Interest at office of company.
c
6 g M-N
749,000 May 1 1946
Canal & Clalb RR cons M g 1896
0,000 ($500 & 51,000)-- Interest at office o f company.
2,243,000 Jan 2 1929
n Elec o f N O 1st M 1899 5 J-J
(51,000) s f $2 ,5 0 0 ,0 0 0 cU f Int. at American Trust C o., Boston, Trustee.
300,000 July 1 1929
Merchants’ Elec Co 1st mtgo 1899 5 g J-J
$500,000 gold ($500)--C*tf Int. at Merch. L. Sc Tr. C o., Chicago, Trus.
4 g J-J
375.000 Jan l 1952
St Charles St 1st M $600,000 1902
(81,000) gold . ........... cntjT Interest at office of company.
6 A-O
141,000 Oct 1 1924
Equip loase oblig's $199,000 1914
(5500 and $1,000).........- t f Int. at Fidelity Trust C o., Phila., trustee.
Bonds.— On the New Orleans S Carrollton consolidated bonds $30,000
c
per annum is payablo to a sinking fund. A sinking fund of $30,000 per
annum Is provided for tho redemption of the N. O. City S Lake RR. bonds.
c
Tho Merchants’ Elec. Co. bonds are sub. to call at 102 and Int. at any time.
Tho St. Charles Street RR. bonds are not subject to call, but a propor
tionate amount will bo retired yearly by purchase in open market. Edison
Elec. Co. or N. O. bonds havo sinking fund of 1% per ann. o f bonds out.
Of the $30,000,000 general mortgage o f the New Orleans Railway
S Light Company, $669,000 aro pledged under tho general S refunding
c
c
mortgago 5s. $935,000 are in treasury and $11,521,000 aro reserved
for prior lions.
They aro subject to call on any Interest date
upon 4 weeks’ notice at 105 and interrat.
See V. 82. p. 1497.
See
description o f bonds and property in V. 88, p. 1621. $30,000,000 of
tho ref. S gen. lien mtge. bonds are reserved to rotiro the Gen. Mtge. 4)4%
c
bonds; remaining bonds may only bo Issued for betterments and improve
ments at 76% of cast and for acquisitions of additional securities of sub
sidiary companies under certain restrictions. Bonds aro red. in whole but
not in part on Nov. 1 1919 or any int. date thereafter at 105 and int. on
6 weeks' notice. Tax refund in Pa. See V. 89, p. 411; V. 92, p. 1033.
of tho $6,079,700 outstanding, 51,500.000 are printed in French and are
navabio, p. & i., in Franco. Tho equipment loaso obligations aro guar.,
o S i., by tho N. O. Ry. & Lt. Co. Subject to call at 102)4 and divs.
c
D i v i d e n d s .— First quar. dlv. on pref. stock— I X % — paid in Jan. 1906,
and samo amount quar .thereafter to and incl. July 1907; Oct. 1907VH%J
)n
sai
none to Jan.1918wnon 2 H % was paid; April, 1)4 % ; same rato quar. to and
____ 08% ’ 8
Incl. Oct. 1917. Jan.. 1918 div. omitted (V. 106, p. 86). On com ., first
1914.
Ju
div., 1%. paid July 1912. in_____ __
>12;
1913, Jan.,
Juno. ___ in ____ Jan., ' ‘
1%:
April, M ; June, >4%; Dec., 1%. In 1915. Mwrcti. M % ; Dec.,
In 1916, Dec., M % . Nono since.
r
REPORT.— For
CaM.dar Gross
Year— Earnings.
$
1917 _7,746,259
19 K ___ 7,200,740
77
calendar year (1917 report in V. 106, p. 1680):
Net (after Other Interest, Preferred Com. Balance,
Tax., Ac.) Income.
&c.
Div.
Div. Surplus.
S
S
S
S
$
$
2,531,039
64,186 1,943,999 2371,430 ... 279,796
2,559,15768,391 1,907,195 1/496,148 a50,000 174,205
Revenue passengers ^carried in 1917, 92,656,376; transfers, 25,383,561; in
1916, rovenuo, 87,680,288; transfers, 25,173,015.
Cross earnings in 1917 ($7,746,259), includo $4,669,390 from railway,
$1,618,553 from electric department and $1,458,316 from gas.
LATEST EARNINGS.— For six months ending June 30:
6 Mos. end.
Gross
Net (after
Misc.
Bond,&c. Balance,
June 30—
Earnings.
Taxes).
Deduc.
Interest. Surplus.
1918 ____________ $4,136,838 $1,507,029 $24,348 8974,573 $508,108
1917_____________ 3,895,645
1.476,041
20,240
928,274
527.527
ROAD.— Companies controlled operate 58.27 miles of single track, 72.84
miles of double track and 14.57 miles of sidings, &c.; total track, 218.52
miles. Has 692 cars. Rails 58 to 107-lb. T and girder. Gauges, 4ft.
8)4 in. and 5 ft. 2)4 in. Owns 3 power stations and 8 sub-stations, with
44,300 k. w. generating capacity. An additional 15,000 k. w. turbine was
being installed at the central power house in April 1918.
,
,
OFFICERS.— Pres., D. D. Curran; V.-P., R. M . Walmsley; Sec., Joseph
H. DoGrango; Treas., II. A. Ferrandou; Aud., O. B. Murphy.— V. 107,
p. 82, 501, 604, 697, 1004, 1101.______
AMERICAN CITIES COMPANY.—A holding company.
ORGANIZATION.— Incorporated in New Jersey on June 21 1911 to
take over the entire stock holdings of the American Oltles Ry. & Light Co.
and at least two-thirds of the common and preferred stocks of the New Or
leans Ry. & Light Co., per plan in V. 92, p. 1373. 1434. The United Gas &
Elec. Corp. in 1913 purchased a majority or the com. stock of the American
Cities Co. For terms, see United Gas S Elec. Corp. under “ New York"
c
and V 97. p 597. 952. 1202.
,
Companies Controlled.— The following shows the companies controlled,
with the amount of stock outstanding in each case and the proportion con
trolled by tho American Cities Company.
— Preferred Stock—
— Common Stock—
Total Issued. Oumed. Outstanding. Own’d.
$20,000,000 97^
New Orleans (La.) Ry. S Lt. Co-510.000.000 88%
c
3.900.000 89%
Birm .(Xla.)Ry., Lt. Sc P. C o____ 3,500.000
2.500.000 87%
Memphis (Tenn.) St. Ry. C o------ 2,500.000 I I I
2.000.000 81%
Little Rock (Ark.) Ry.&Elec.Co.
750.000 80%
2.050.000 100%
________ ____
Knoxville (Tenn.) Ry. & Lt. C o2.000.000
Houston (Tex.) Ltg.&P. C o . 1905 ............... .......
.................... 100%
T otal................................. 510.750.000
532.450.000
Detailed statements for all the above companies will be found under the re
spective cities in this publication except the Houston Lighting A Power Co.,
whose return is given below.
„
„
„
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Common 525,000.000 (5100).................................... 516.264.700 - - - - - - - - - Pref 535.000.000 (5100) 6% -----J-J
J
20,553.500 Seo text
cum from July 1 1911_____(Red. at 110 and accumulated dividends.
Coll tr mtge 511,000.000 gold/ 1911
5-6 g J-J
7,500,000 July 1 1919
(5100 and $1,000)..........c*\Int. in New York or New Orleans.
____
1-year deb notes (extended).. 1916
6%
3,000,000 July 1 1918
Stock.— Pref. stock listed o n N .Y ., Now Orleans and Phila. Stock Exch ge
Bonas.— $209,000 coll, trust bonds In addition to amount shown outstand
ing aro held in treasury. Remainder reserved for acquisition of addi
tional property. Interest rate 5% for first six years and 6% per annum
for 7th and 8th years. Bonds are red. at par and int. on any int. date
$2,500,000 were retired by lot at par and int. on July 1 1916. Stocks of the
controlled cos. are deposited as collateral for the bonds. V. 93, p. 285.
Up to the time of going to press no arrangements for payment or extension
of tho notes duo July 1 1918 had been made.
____
Dividends.— Semi-aim. dlv. o f 3% paid on pref. stock from Jan. 1912
to and Incl. Jan. 1915. In July 1915 only 1>4 % was paid (V. 100. p. 2083).
in 1916, 3% . Jan. 1917, 1)4% ; none since. V. 104, p. 2552.
Earnings of American Cities Co. System— 12 Mos. end. Dec. 31.
OPERATING COMPANIES.
Calendar
Gross
Expenses
Net
Interest,
Balance,
Year— Earnings.
A Taxes.
Earnings.
D isc.,Ac.
Surplus.
1917______ $16,670,444 $11,145,998 $5,524,446 $3,895,499 $1,628,947
1916
15,464,361
9,965,083 5,499,278
3,810,259
1,689,019
9.121.734
5,023,708
3.657.198
1.366.510
1915........... 14,145,442
HOLDING COM PANY.
Total
Net (after
Bond
Pref.Div.
Balance,
Income. Taxes. A c.).
Interest.
(3 % ).
Surplus.
1917
....................- $1,191,904
$895,295 $592,500 ---------------1916.......... 1,418.923
1,165,696
527.500
616,605
21.591
OFFICERS.— Chairman of Board, John J. Gannon; Pres., Francis T .
Homer; V .-P ., E. G. Connette, Lee Benoist; Sec.-Treas., Arthur L. Linn Jr.:
Asst. Sec.-Trcas., C. B. Murphy and M . D. Evans.— V. 106, p. 601, 1128.
2012; V. 107, p. 500, 1187, 1191.
(a) Houston Lighting & Power Co. (1905).— Controlled by the Ameri
can Cities Co.
ORGANIZATION.— Incorp. In Texas Jan. 8 1906 and took over the
business of the (old) Houston Lighting & Power C o. Owns and operates
the entire municipal and commercial electric-lighting and power facilities
n Houston, Magnolia Park and Harrisburg, Tex. Franchises perpetual.
“
Interest. Outstanding. Maturity.
STOCK AND BONDS—
DaU.
52,000.000 ______
Common $2,000,000 ($100)...........- .....................
1.653.000- Apr --------11931
First mortgage $5,000,000/ 1911
5 g A-O
-------(51,000) gold_________ c*\Whltney Cent.Tr.&S.Bk..New Orl.,Trustee.
Bonds.— Redeemable at 105 and int. at any int. period on 30 days’ notice;
callable by lot. Sinking fund of 1% of bonds outstanding began July I 1915.
$458,000 in treasury.
EARNINGS.— For years ending Dec. 31:
Year—
Gross.
Net(aft.Taxes) Charges.
Surplus.
1917...................... ............. $878,803
$402,817
.$142,500
$260,317
1916
788.769
358,706
135,467
223,239
_______
— V. 103. p. 1891; V. 107, p. 505.
.
Sept ., 1918.)
NEW Y O R K *C IT Y , N. Y.
INTER BOROUGH RAPID TR AN SIT CO.— MANHATTAN RAIL
W AY.— See "Railway and Industrial" Supplement.
NEW YORK RAILW AYS CO.— Underground trolley.
The Interborough Consolidated Corp. owns $15,276,500 of the stock.
ORGANIZATION.— Incorporated on Dec. 29 1911. and at midnight on
Dec. 31 1911 took over the lines of the old Metropolitan Street R y. sold at
foreclosure (V. 93, p. 1787) on Dec. 29 1911, per plan In V. 93, p. 1533
(formally approved by Public Service Commission on Jan. 24 1912).
See V. 94. p. 977. The sale did not include the leases of the Central
Park North & East River R R .. 28th S 2Sth Sts., the Second Ave. RIt. and
c
Fulton St. R R . The latter road was abandoned in 1908 (V. 90, p. 1675).
In 1913-14 acquired a half-interest in the Bridge Operating C o., which,
under an agreement with the city dated M ay 21 1904, operates local cars
over the Wllllamsburgh Bridge. With the Third Ave. Ry. and the Brook
lyn Rapid Transit Co. controls the Brooklyn & North River R R ., operating
over Manhattan Bridge.
On July 24 1918 purchased, with the P. S. Commission's approval, tho
property of tho Central Crosstown R R . (incl. lease o f the old Christopher &
Tenth St. RR.) at foreclosure for $2,114,000. V. 107, p. 402, 501, 906.
On Nov. 30 1914 the Public Service Comm, authorized the company
to purchase the $600,000 capital stock o f the 23d Street Ry. at $350 per
share and to issue first real estate S ref. 4s to pay for same. $507,500 of
c
tho stock has been so purchased. The authority was given on condition
that the company shall provide for an amortization o f 20% of the face value
of the bonds, representing tho discount on the bonds. Has acquired 8,536
shares of the stock of the Bloecker St. & Fulton Ferry R R . at $28 50 per sh.
Franchises.— Most of the franchises are perpetual. In Oct. 1917 the co.
rejected a franchise drawn by the city permitting the operation of a line
in W. 86th St. V. 105, p. 1618.
Franchise Tax Decisions.— For decisions of Supreme Court Justice*
McCall and Davis, reducing the assessed valuation o f the special franchisee
in 1910 and 19U. see V. 95, p. 1473.
Transfers.— In Oct. 1912 the P. S. Comm, issued an order (operative
Dec. 1) providing for transfers on a single 5-cent fare between the East
and West Side lines of the company and the Second Ave. Ry.
by way of the 59th St. line of tho Central Park N. & E. RIv. R R .
(now the Beit Line Ry. Corp., part of the Third Avenue system), where the
passenger travels in the same general direction from which he started.
Order was voluntarily put into effect Nov. 1. V. 95, p. 1207.
$302
78
ELECTRIC RAILWAYS
Staten Island Transfers.— The arrangement made between the company
and the city for free transfers at the battery to and from the ferryboats
and the cars of the New York Railways running to the Battery (see V. 99,
p. 49) was passed in July 1914 by the Board of Estimate. No re-transfers
permitted and of each nickel the city will get 2 cents and the company 3
cents. .The plan took effect Sept. 15 1914.
Application to Charge for Transfers.— In May 1917 application was made
to the P. S. Comm, for authority to charge 2c. for transfers, without further
charge for a re-transfer. See V. 104, p. 2011, 2118, 2152. 2553. In May
1918 tho Now York P. S. Comm, adjourned the hearings on this case,
following tho decision in the Rochester Pare Case (V. 106, p. 1461) in which
It was held that the Commission was without power to grant increases in
fares where the companies were bound by franchise obligations to a maxi
mum fare. V. 106, p. 1901. Sec Third Ave. Ry. in V. 106, p. 2650.
Petition for Relief.— In June 1918 John Chandler Cobb, on behalf of tho
adj. mtgo. bondholders, called upon tho P. S. Comm, to grant tho co.
immediate relief by changing the regulations regarding free transfers and
by a reduction in the amount o f service, to enable tho co. to meet the in
creased cost o f labor and materials and pay interest on the bonds. On
Sept. 10 1918 tho P. S. Comm, overruled the plan to suspend operations
from midnight to 6 a. m ., and adopted an order making it impossible for
the company to curtail tho present service. V. 106, p. 2757; V. 107, p. 1101.
During 1913 and 1914 storage battery cars were substituted for horse cars
on the Chambers St., Duane St., Spring St.. Delaney St. and 6th Ave. ferry
lines.
On Jan. 17 1916 the P. S. Commission granted auth. to abandon the
Roosevelt Ferry branch o f tho Chambers St. line. In July 1917 the
horse-car operations on tho Bleecker St. lino of the Blcecker St. & Fulton
Ferry R R ., the only remaining horse-car line in the city, was abandoned.
In Jan. 1914 the company agreed to abandon unused franchises formerly
owned by the Metropolitan St. R y., and to remove the tracks and ro-pave
the streets. V. 98, p. 237.
IVilliamsburgh Bridge Connection.— Cars of the old Metropolitan lines
began to run across the Williamsburgh Bridge in Jan. 1905.
Suit under Adjustment Mtge.— The suit brought by the N. Y . Life Ins.
Co. to recover unpaid Interest on the bonds since Jan. 1 1912 (approx. $50
for each $1,000 bond, Incl. coupon duo April 1 1915) was dismissed in
1915. but O. B. Leighton o f Boston, representing tho bondholders’ com
mittee. Intervened (V 100, p. 1349. 1918; V. 101, p. 1973). In N o v .1915
the Appellate Div. of the Supreme Court, reversing a lower court, rendered
a decision giving Mr. Leighton the full standing that the N . Y. Life Ins.
Co. previously had in tho case.
Application to Issue Additional Bonds.— In June 1912 applied to the Public
Serv. Comm. Tor permission to Issue $754,000 1st real estate and ref. 4s to
refund Metropolitan Crosstown 5s. V. 94, p. 1627. Still pending.
On N ov. 1 1912 the P. S. Comm, authorized the Issuance or $640.4)00 real
estate and ref. bonds (permission to Issue $1,050,000 having been asked) to
purchase now stepless cars. V. 95, p. 1207. None of these bonds is In
cluded In tho amount In the table. Justice Greenbaum in the N. Y . Su
preme Court In June 1914 granted a writ of certiorari to review the order
of the P. S. Comm, authorizing only $640,000 bonds. V. 98. p. 1994.
Matter Is still pending.
Pinal Distribution to Metropolitan St. Rg. Shareholders.— V. 103, p. 1980.
Payment of Met. St. Ry. Gen. A Coll. Tr. M . Bonds.— V. 106, p. 1344.
For distribution of sum recolved by this co. from tho settlement of the
Metropolitan St. Ry. receivership, soe V. 105. p. 2272.
Guaranty Decision.— In May 1917 the U. S. Supreme Court affirmed the
decision o f U. S. District Judgo Hough, of New York, dismissing the action
brought by the bondholders’ committeo of tho old 28th & 29th Streets RR.
(property foreclosed and now known as Mid-Crosstown Ry.) against tho
New York Rys. Co. on the ground that the Federal Courts had no jurisdic
tion. The suit has been carried into the State court. V. 104, p. 2118.
Strike.— A strike was begun on the Yonkers Streot RIt. on July 22 1916
and was extended on July 29 to the Third Avenue Ry. and on Aug. 4 to the
New York Railways and all other surface lines In Greater New York, except
the Brooklyn lines. The strike was formally declared o ff on Aug. 7 1916
(for terms of settlement, see V. 103, p. 579), but on Sept. 6 tho New York
Rys. men again walked out following the calling of a strike on the subway
and elevated lines of the Interborough Rapid Transit Co. and on Sept. 9
the men of the Second and Third Ave. lines followed suit. On Sopc. 19
1916 the men of the N. Y. & Queens Co. Ry. also went on strike for tho sec
ond time. Service on the surface lines was badly crippled for some time
but began to assume normal proportions In Dec. 1916.
Fares.— For application for faro increase by traction interests of N . Y
State, see “ Brooklyn Rapid Transit C o ." On June 27 1918 V .-l’ros
Iledley filed a petition with the Mayor, asking that tho P. S. Comm, b
allowed to determine tho rate o f fares during tho period of tho war and fo
one year thereafter. V. 106, p. 2757.
[Vol. 107.
Adjustment Income Mortgages are redeemable on any Jan. 1 or July 1 In
whole but not In part at par and int. Holders of adjust, mtge. bonds
•hall have the power, by vote of a majority thereof, to elect one less than a
majority of the members of the board of directors until the full 5% per ann.
shall have been paid to holders annually Tor 3 successive years, and again
thereafter, during a like period, whenever a failure to pay such annual Int.
shall occur. During such periods, also, the holders of said bond* shall have
full power In respoct of all other questions, upon which stockholders may
vote, to cast one vote for each $100 of the principal of the bonds held by them.
V. 94. p. 977. Bonds are listed on N. Y. Stock Exch. V .94, p.827. 977.
R E PO RT.— For fiscal years (1917 report in V. 105. p. 1306):
„
1916-17.
1915-16.
1915-14.
Revenue passengers............................ 215.672,697 257.028.563 251,264,521
Revenue transfers.............................. . 13,866,986 17.752,628 15.062,586
Free transfers..................................... 85,088,109 108.521,893 109,943,330
Total passengers___________
Gross earnings________________
Operating expenses___________
.314.627.792 383.303,084 376,270,437
.$11,494,109 $13,714,531 $13,399,767
. 7.S68.810
8,374.079
8.551,432
. $3,625,299
. 1.032,012
Operating IncomeOther income_______
$5,340,452
1.038,122
$4,848,335
1.042,859
. $2,593,287
.
647,600
$4,302,330
567.869
$3,805,476
527,242
. $3,240,887 $4,870,199 $4,332,718
Deduct—
Int. on underlying bonds, rents, &c. . $2,666,052 $2,707,883 $2,741,015
Int. on 1st real eetate A ref. bonds. .
722,888
722.609
691,538
Int. on adjust, mtge. Income bonds.
1.584,946
961,381
...........
„ T o t a l .............................................
$3,388,940 $5,015,438 $4,393,934
Deficit for year.....................................
$148,053
$145,239
$61,216
Total deficit June 30 1917 as per balance sheet, $1,144,732.
Latest Earnings.— For 9 mos. end. Mar. 31:
Gross.
Net.
Oth. Inc. Int..Taxes.Ac. Balance.
1918................ $8,984,526 $2,839,050 $455,425 $2,758,647
$535,828
1917................ 8.356.206
2.367.141 479,087
2.768,334
77,894
ROAD.— On Dec. 31 1917 owned 42.782 miles of track, of which 29.590
miles are underground electric and 13.192 miles storage electric; leasod
99.129 miles (92.944 underground electric and 6.485 storage electric): oper
ates under agreement 11.384 miles (11.096 underground electric and 0.288
storage electric): total track. 153.595 (133.630 underground electric and
19.9(>o storage electric). Owned and controlled, 2,215 passenger (1 945
electric, 103 storage battery and 167 horse), and 176 service (143 eloctrlc
and 33 horse); total, all cars, 2,391. Main power station oquippod with
eleven 3.500 k. w. generating units and 5 sub-stations and distributing
syi^ems including I 615 miles of singlo-powor transmission ducts.
OFt IOERS.— Pres.. Theodore P. Shonts; Asst to Pres., W. Leon l’ epporman; V.-P. S Gen. M gr.. Frank Iledley; V.-P.. D. \V. Ross; Sec., H.
c
M. Fisher; Treas.. J. H. Campbell; Counsel. Richard Reid Rogers; Gen.
Attorney. J. L. Quackenbush: Aud., E. F. J. Oaynor. Gen offices. 165
p r 83d'l8 2 ’ 402Y '906' ^ l V ' U93 ° 29, 1901, 2229>2500’ 2049- 2757; V. 107,
Companies C ontrolled by New York Railways.
(1) Bleecker street & Fulton Ferry R R .— Horse and electric.
The New York Railways owns 8.519 shares of the company’s stock.
ORGANIZATION.— Chartered Dec. 12 1864. Leased to 23d Street
Railway Co. Jan. 10 1876 for 99 years; lease assigned to Metropolitan Streot
Ry. (now New York Rys.). Rental Is Intorost on $700,000 bonds. 1M%
per annum on stock taxes and corporate expenses of $600
In Dec. 1917 the N. Y. P. S. Comm. auth. the abandonment of horse-car
operations on the Bleecker St. lino, the only remaining horse car lino In
New York City, over which tho last horse car was run July 26 1917.
STOCK AND BONDS—
Par. Interest.
Outstanding.
Maturity.
^ ock
........
. .
. . $100
1X % J-J
$900,000
See text.
1st M goldl, were formerly 7s.f 1,000 4 g J-J
700.000 Jan 11950
extended In 1900 as 4s.n tf i Guaranty Trust C o.. New York, 'Trustee.
Of the $900,000 stock outstanding. S853.600 is owned by tho N. Y .
Railways Co.
ROAD.— Owns 5.25 m i l e s o f t r a c k . — V. 90, p . 913; V. 104. P . 1700.
1898. 2450; V. 105. p. 72. 496. 1522. 2364.
(2) Broadway 8c Seventh Avenue.— Change to underground eloctrlc
occurred In Aug 1901
ORGANIZATION.—Chartered May 26 1864. Leased May 13 1890 for
anexplred term of charter.and for any extensions of the same, to Houston
West St. S Pavonia Ferry, now New York Railways. Franchises perpetual.
c
Wage Increase. V . 1 0 7 , p . 1 1 0 1 .
RENTAL.— Interest on bonds and 10% on $2,100,000 stock, of which
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity. Now York Rys. owns $1,400,200, besides taxes and corp. expenses.
Stock $17,500,000 ($100)...........................................$17,495,060 ...................
STOCK AND BONDS—
Par. Interest.
Outstanding.
Maturity.
1st real est S ref mtge gold) 1912 4 J-J
c
18,069,948 Jan 1 1942
8tock $2,100,000 ($100).......... $100 10 Q-J
---------------~
■
$2,100,000
See text.
(see text)_________ c*Ar*tf (Guaranty Trust C o., New York, Trustee.
1st M (all held by N Y R y s ) . . ___
5%
1.500.000
1904
Convertible sc r ip ___________ _____
4%
2,250 ___________
Broadway Surface first guar.. 1.000
5 J-J
1.500.000 July 1 1924
Adjust Inc M $33,000,000 gf 1912 5 A-O
30.626.977 Jan 1 1942
South Ferry first guaranteed.. 1,000
5 A-O
350,000 Apr 1 1919
non-cum (see text)c*&r*tf (Farmers’ Loan S Trust C o., N. Y ., Trustoe. Bway S 7th Ave cons mtge) 1,000
c
c
5 g J-D
8.150.000 Doc 1 1943
First real estate & ref. and adjustment income coupon bonds are In denom.
of 1893 for $12,500,000. ntfl Int. at Guaranty Trust C o.. N Y .. Trustee
of $1,000; registered bonds are for $1,000, $5,000 or $10,000. Int. on both
Of the consolidated mortgage of 1893 for $12,500,000. $3,350,000 Is re
Issues payable at office of company or its agency in New York City.
reserved to retire at maturity tho other bonds Iri the table. The Broadway
aLexlngtou Ave & Pavouia) 1893 5 g M-S
5.000,000 Sept 1 1993
Surface 2d mtge. bonds, due in 1905 (all held by the Now York Rys. Co.)
Ferry 1st M gold..c*& rntf lInterest at offico of company In New York.
were canceled In 1914. The consols were guaranteed, principal and Inter
aColumbus S Ninth Avenue) 1893
c
5 g M -S
3.000. 000 Sept 1 1993 est, under the terms of the mtge. by Metrop. Street Rv. Co., since fore
first mortgage gold-C&rntf (Guaranty Trust Co , N. Y. City. Trustoe.
closed. They cover the road owned In fee and also tho right to use the
5 A-O
nSo Fy 1st gu $350.000($1.000) 1889
350.000 April 1 1919 tracks on Broadway from 15th St. to the Battery; they aro also a direct lien
Broadway Surf RR first m t g e .____
1.500.000 July 1 1924 on the cable (since changed to electricity). Ac. Closed Issue except for
5 J-J
oCentral Crosstown first mtgo 1882
6 M-N
250.000 Nov 1 1922 refunding purposes
Bills payable May 1 1918__________
1/1.802.454 ................... . T h e Bway. S 7th Ave. assumed the Broadway Surface 1st M. bonds for
c
Company separately operated—
$1,500,000 and payment or Int. on the 2d M. bonds for $1,000,000 (now
a34th St. Crosstowu first mtge 1896
5 A-O
retired) for use of tracks between 15th St. and tho ferry. South Ferry 5s
1.000.
000 April 1 1996
assumed under lease.
Lessor Companies— *
ROAD.— Comprises 10.31 miles of track.— V. 101, p. 212; V. 106, p. 497.
Broadway S 7th Ave con mtge 1893
c
5 g J-D
z8,150.000 Dec 1 1943
Bleecker St & Ful Fy first mtge 1876
(3) Christopher & Tenth Streets R R .— Electric.
4 J-J
700.000 Jan 1 1950
Christopher S 10th Sts 1st M_ 1898
c
4 A-O
210.000 Oct 1 1918
ORGANIZATION — Chartered April 25 1873. Leased to Central Cross
•Eighth Ave certs of lndebt_ 1914
_
6 F-A
750.000 Feb 1 1919 town (purchased July 24 1918 by New York Railways at foreclosure)
Twenty-third St RR mtge____1912
5%
1.500.000 Jan 1 1962 April 26 1890 for unexpired term of its charter at 8% on stock, Interest on
a Int. on these bonds paid at office of company, 165 Broadway. N. Y . O
bonds, taxes, Ac., and not moro than $1,500 per ann. for organization exp.
• Interest ou tho $750,000 certificates of Indebtedness of tho Eighth AvO'
STOCK AND
Par.
Maturity.
R R . Is paid out of the $215,000 rental which the New York Rys. pays the Stock ($100)----- BONDS— - $100 8 Interest. Outstanding.
------Q-J
$650,000
See text.
Eighth Ave. RR. x There aro also outstanding $1,500,000 B’way. & 7th
in) 1.000 4
Ave.. RR. 1st M 5s which fell due In 1904 and aro all.held by New York Rys. First mortgagep. extendedntflOuaranty A-O C o., 210.000 Oct I I9is
1898 (V. 67
370) —
Trust
New York Trustee
y Issued to purchase Metropolitan Crosstown Ry. 5s. $602:454, and to pro
R O A D . — T r a c k o w n e d is 4 . 1 5 m il e s .— V . 1 0 6 , p . 4 9 8 ; V . 1 0 7 , p . 9 0 5 .
vide funds for the maintenance of working capital and reserve, $1,200,000.
(4) Eighth Avenue R R .— Underground trolley road.
First real estate and refunding mtge. Is not limited as to amount of auth
liaue, but further bonds may be Issued to refund or acqulro underlying
ORGANIZATION.—Chartered Jan. 10 1855. Road was leased to M et.
bonds, subsidiary bonds and other bonds, any obligations secured upon St. R y.,now N. Y Rys.. Tor 99 yra from Nov. 23 1895 at rental of $215,000
mortgaged or leased properties; to acquire securities of other companies to per annum which provides for interest on tho scrip and 16% dividends on
be pledged under mtge. and for add’ns, exten’s and impts. See purposes stock, besides all taxes. Underground eloctrlc traction system used be
for further Issue In full in V. 94, p. 977. Red. on any Int. date on 12 weeks’ tween 158th St. and Battery Place. V. 67. p. 178. 956.
notice, at 105 and int. See V. 94, p. 977. Bonds are listed on N. Y . Stock
On Nov. 28 1913 the P. S. Comm, authorized tho Issuance of $750,000
Exch. V. 94, p. 827. 977: V. 101. p. 2145.
6% 5-year certificates, dated Fob. 1 1914, replacing the same amount of
Div. on Income. Bonds.— Initial div. of $7 71 (0.771%) paid Oct. 1 1912 certificates issued in 1884 and duo Feb. 1 1914. Tho co. has applied for
(V. 95. p. 544). In 1913. April. $22 50 (2 tf% ); Oct., $16 36 (1.63% ). auth. to issue $750,000 6% certificates of indebtedness duo Feb. 1 1929 to
In 1914, April. $23 45 (2.34% ); Oct., $12 88 (1.288%). In 1915, April. roplaco thoso duo Feb. 1 1919. V. 107, p. 1100.
$17 69 (1.769%); Oct., $13 70 (1.37% ). In 1916. April. $31 94 (3.194%).
STOCK AND BONDS—
Par.
Interest. Outstanding.
Maturity.
Oct., $19 81 (1.981%). Nono sinco. See V. 106. p. 929.
Quar.
$1,000,000
See text.
Lexington Ave. A Pavonia Ferry 5s and Columbus A Ninth Ave. 5s were Stock of 1914 .............................$100
Scrip
........................... 100 6 F-A
750.000 Fob 1919
fully described In V. 60. p. 1146. Both were guar, and later assumed by
Scrip of 1914 replaces same amount of scrip of 1884 which fell duo Feb. 1
the Metropolitan Street Ry. Co. (now New York Railways).
any int.
Amortization Fund.— On Dec. 10 1912 P. S. Commission modified Its 1914. Red. Tot. trackday. V. 97. p. 1503.
R OAD.—
owned and operated, 18.822 miles.— V. 107, p. 1100.
order of Feb. 27 1912 (see V. 94. p. 698) by striking out the provisions
(5) Fort George & Eleventh Ave. R R .— Underground-trolley.
requiring the setting aside each year of a specified amount as an amortiza
tion fund, as It found It did not have power to make such requirement. It
ORGANIZATION.— Incorporated Nov. 19 1898 In the Interest of the
re-affirmed, however. Its order requiring the setting aside each month, Mot. St. lty. (now N. Y. Rys.) to build a line from 130th St. and 11th Ave.
beginning Jan. 1 1912, for maintenance and depreciation of a sum at least along 11th Ave to 175th St. and another from 145th St. and 11th Ave.
equal to 20% of gross operating revenue for such month. V. 95. p. 1608: easterly through 145th St. to the Harlem River. Has constructed 2.06 m.
V. 94. p. 698. On Jan. 18 1918 tho Appellato Division of tho Supreme projected on Broadway and la operating 1.69 m. of track on 145th St. between
Court dismissed the writ of certiorari granted by Supromo Court Justice Lenox Ave. and Broadway. Stock auth., $3,000,000, all owned by tho
Platzek on April 17 1913 to reviow the order. V. 106, p. 396. In May 1918 Now York Rys. V 67. p. 1109. Franchise grantod Doc. 1889 for 25 yrs..
th iN . Y . State Court of Appeals reversed tho decision o f tho Appellato with privilege of renewal for another 25 years, 4% gross receipts to be paid
Division. V. 106, p. 2560. An application for a modification of tho order the first 6 years, 6% tho second 5 years, 8% tho third 5 years and 10% the
so that it should provide for tho setting asido o f 20% o f tho gross passenger remaining years of operation. The road to become tho property of tho city
revenue only instead of 20% of tho grass operating revenue was denied , at tho termination of franchise (whether original or renewed) upon payment
by tho P. S. Comm, on July 27 1915. V. 101, p. 370.
! for the same in accordance with definitely prescribed rules.
S e p t ., 1018. i
ELECTRIC RAILWAYS
(6) Forty-Second St. & Grand St. Ferry R R .— Horae and electric.
ORGANIZATION.— Chartered Feb. 16 1863. Leased to Met. St. Ry.
C o., now N. Y. Rys., from April 6 1893 for duration of charter and renewal*
thereof, at 18% on stock, all taxes and corporate exponsos. Stock, 5748,000
($100), of which $400,000 Is owned by N. Y. Rys. 1st M . 0% bond* (due
1909) of 42d St. <c Grand St. Ferry R R .. formerly deposited under Met. St.
5
Ry. ref. mtge.. have been canceled.
ROAD.— Owns 5.77 miles of track.— V. 89, p. 993; V. 106, p. 499.
(7) New York & Harlem R R .— Underground electric railroad.
ORGANIZATION.— Chartered April 25 1831. Owns also a steam road
leased to Now York Central, Its securities, which cover tho electric roads as
well as the steam line, being described under the title New York S Harlem
c
among steam railroads in our “ Railway and Industrial’’ Section.
The electric (formerly horse) lines (18.9 miles of track) were leased to
the Met. St. Ky.,now New York Rys., for 999 years from June 11 1896 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, besides all taxes
and $2,500 for organization expenses. V. 62, p. 1088.
On Jan. 23 1911 a dlv. ofi7% was paid, covering in full dlvs. withheld
from 1909 to 1911 out of street railway rental, owing to franchise tax liti
gation (now settled). V. 94, p. 124; V. 93, p. 731; V. 91, p. 717. Line
operated electrically from March 1898 from City Hall to 135th Street.—
V. 94. p. 768, 1057; V. 95, p. 47, 1040; V. 96, p. 1424; V. 106, p. 499.
(8) Ninth Avenue R R .— An electric railroad.
ORGANIZATION.— Chartered July 29 1859. The road was leased to
tho Met. St. Ry., now Now York Rys., 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 $64,000— 8% — on the saino, besides taxes. $2,500
for organization expenses. Stock, $800,000; par, $100; dividends Q.-J.
Road. Fulton St. to 126th St., total track ownod and operated 15.75 miles.
— V. 106. p. 499.
„ ,
., „
(9) Sixth Avenue R R .— Underground trolley.
,
ORGANIZATION.— Leased to Met. St. Ry., now New York Rys.,
Feb. 11892 forSOOyears. Rental $145,000 perann.,which is 7 Ji% on stock
besides all taxes. Stock, $2,000,000; par $100. An extra dividend or38%
was paid in Aug. 1901 out of procoods of sale of stable property at Sixth
Ave. and 43d St. Road. Including Lenox Ave. branch (track operated).
12.14 miles. In Fob. 1899 began operating underground trolley all tho
way to Battery Place.— V. 88, p. 946; V. 106, p. 500, 822.
(10) Thirty-Fourth Street Crosstown R y.— Underground electric.
ORGANIZATION.— Chartered March 18 1896. boing a consolidation of
the 34th Street Railroad Co. and the 34th Street Ferry 3c Eleventh Avenue
Railroad Company. Entire stock of the 34th Stroet Crosstown Itailwav
Co. is owned by the Now York Rys. Operated under agreement datod
Dec. 21 1896, guaranteeing principal and Interest of the bonds.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock ($100) .......................... - - ............................. $1,000,000 __.................
First mortgago ($1,000) guarf 1896 5 A-O
1.000,000 April 1 1996
prln & int by N Y R y s.n t f(Central Trust C o., New York. Trustoo.
R O A D .—Track owned is 1.60 miles. V. 62. p. 649; V. 71, p. 135.
(11) Twenty-Third Street Ry.— Underground trolley.
ORGANIZATION.— Chartered Juno 29 1872. Leased from Apr. 25 1893
to tho Met. St. Ry. Co. (now N. Y. Rys.) for tho unoxplred terra o f the
charter and for any extensions of the same. Rental is 18% on stock, all
taxes assessments, water rents and charges. The Now York Rys. owns all
of the debentures due 1906. all of tho 1st M . bonds duo 1909 and $507,500
of tho $600,000 stock, for which it gave $350 of its own 1st real est. & ref
4s due July 1 1942 for each $100 of stock.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock ($ 1 0 0 )................ - ............... - 18Q-F
$600,000 18% per an.
First mortgage $250,000------- 1896
6 J-J
250,000 Jan 1 1909
6 J-J
150,000 Jan 1 1900
Debentures ($1,000)------------ - 1886
Impt S ref. mtge $1,500,000/ 1912
c
5 g J-J
1,500,000 Jan 1 1902
($1,000) gold guar...........c*!Bankers’ Trust Co.. N. Y ., Trustee.
Bonds:The impt. & ref. mtge. bonds are guar. p. & I. by tho N. Y. Rys. Co.
and are red. In whole or in part at the option o f the company or for the sink,
fund on any Int. date at 107 and Int. on 4 weeks notice. Sinking fund of
$1 102.So payable semi-annually, with accretions; when $400,000 bonds
shall havo boon acquired they shall be canceled. Tax-exempt In N. Y.
R OAD.— Including 14th St., Bleecker St. and Canal St. branches, track
ownod. 4 21 mllos. Rails. 47 to 113 lbs., standard gauge.— V. 99, p. 1367.
1675; V., 100, p. 2011, 2168; V. 106, p. 500.
SECOND AVENUE R R .— Underground electric.
Receivership.— In Sept. 1908 Justice Bischoff in Supreme Court appointed
George W. Llnch separate receiver in suit by Guaranty Trust Co. to fordclose consolidated mortgage.
At midnight on Nov. 12 1908 receiver
took possession of the property.
A. L. Kalbach is now roceiveer
Dlv. on stock due June 1908 was defaulted. Default of int. on
bonds occurred as follows: 1st (gen.) M tge., Nov. 1 1908 (subse
quently retired; V. 91, p. 1255): first consols, Aug. 1 1908; debentures.
July 1 1908. A committee was formed to protect the interests of the
first consol. 5% bds. V. 87, p. 347. 1238. On Oct. 1 1910 Justice Amend
In Supreme Court authorized receiver to Issue $2,500,000 receiver’s cortfs,
to bo used to retire $1,280,000 gen. consol. 5s and 5500,000 receiver's ctfs.
due Oct. 1 1910. and for franchise taxes. Improvements and equipment.
V. 91. p. 916. In Jan. 1911 $500,000 additional certfs. wore authorized for
tmprovoments and equipment. V. 92, p.264. As these matured, various
other Issues were made from time to time. In Oct. 1913 $3,200,000 1-yoar
6% receivers’ cortifs. were authorized to retlro $3,140,000 failing duo Oct. 1
1913. which havo been extended from year to year. V. 105, p. 1310. Tho
interest duo April l 1918 on these certfs. was deferred until M ay 1 1918
^Seiuerrimt.—on Doc. 21 1915 Supreme Court Justice Whitaker auth.
tho receiver to settlo with the Now York City Railways Co., tho suit against
It and its predecessor, tho Metrop. St. R y., on payment to tho Court of
$548,352 for breaking the lease, amount due on inter-receivership account,
&c. See V. 101. p. 2146.
„
.
Strike.— Seo Now York Railways Co. above.
In May 1917 petitioned the P. S. Comm, to establish such new regula
tions in regard to rates, faros and transfer privileges, or otherwise so to
exercise its authority as to make possible tho earning o f a moro adequate
return upon the capital invested.”
, ,
In M ay 1918 the P. 8. Comm, adjourned the hearings on this applica
tion following the decision in tho Rochester hare Case (V. 106, p. 1461),
In which it was held that tho Comm, was without power to grant Increases
in fare where the companies were bound by franchise obligations to a
maximum fare.
_
ORGANIZATION.— Chartered Jan. 21 1853. Was formerly leasedto
Mot. St Ry
V. 66. p. 185.
,
,
„
SECURITIES—
Par.
Interest. Outstanding. Maturity.
Stock $2,500,000 ($100)...........$100
9 Q-M
$1,862,000
See toxt
Receiver's certfs______c n tfl 1.000 0 A-O
3,140,000
Seo toxt.
(Callablo at 100 and interest
Debentures of 1889..........n tf 1.000 6 J-J
89,000 Jan 11909
First cons M gold $7,000,000] 1,000 5 g F-A
5.631,000 Fob 11948
1898 guar p & 1 end _c*tf(Guaranty lru st C o.. Now York, Trustee.
Of the new first consolidated 5s, $1,369,000 were reserved to retire securi
ties of earlier date. V. 60, p. 900. For mistake of trustees in exchanging
gome 5s of 1909 for consolidated 5s of 1948. see V. 76, p. 654.
EARNINGS.— For fiscal year ending Juno 30:
June 30.
Total
Net (after Int. on Rec r s
Surplus or
Year—
Receipts.
Taxes).
Certfs., &c.
Rents.
Deficit.
1916-17___ $751,293
$67,944
$189,073
$2,355
def.$123,484
1915-16___ 880,473
213,085
201.361
2,217
sur.
9,507
ROAD.— Track operated, 23.90 m iles— V. 105, p. 1310; V. 106, p. 1578.
THIRD AVENUE R Y .— Underground trolley.
ORGAN IZATION — Incorporated in New York on Apr. 20 1910 and on
Jan. 1 1912 (Court of Appeals having affirmed the decision of tho Appellate
Division of Supreme Court, which reversed tho order of the Public Sorv.
Comm., refusing to approve reorganization plan; subsequently approved by
tho Comm, on Jan. 17 1912. V. 94. P- 209; V. 93, p. 1464; V. 92. p. 1637.
1567; V. 91. p. 338) took over the property of the old Third Avenue R R .,
gold at foreclosure on Mar. 1 1910. V. 93, p. 1535.
Owns all or practically all of tho stock of the following: Union R y., Dry
Dock East B'way & Battery, 42d St. Manhattanville St St. Nicholas Ave.,
Yonkers R R ., Westchester Electric, Southern Boulevard, Kingsbrldge Ry.,
New York City Interborough, New York Westchester & Connecticut
Traction Co., Mid-Crosstown Ry. Co., Inc., Belt Lino Ry. Corporation,
Polhain Park S City Island Ry., Bronx Traction C o., Third Ave. Bridge
c
Oo.;also tho $1,487,000 outstanding 2d M . inc. bonds o f 42nd St. Man. &
St. Nlch. Ave. Ry.. the $2,164,000 bonds of the N. Y. City Interborough
Ry. and the $1,750,000 5% bonds of tho Belt Line Ry. Corporation. With
the N. Y . Rys., tho Coney Island & Bklyn. R R . and tho Blclyn. Rap. Trans.
79
Co., controls the Bklyn. & North River R R ., operating over Manhattan
Bridge.
On Jan. 7 1914 the company applied to the P. S. Comm, for authority to
Issue $6,650,000 bonds on account of the cost of acquiring control of the
Belt Line Ry. Corp. (V. 96. p. 940, 1020, 1295), the N. Y. City Interbor
ough R y. Co. and the Mid-Crosstown R R ., and to pay for certain construc
tion work. See V. 98, p. 74. A preliminary order was procured In Mar. 1914.
auth. the Issue of $4,000,000 of these bonds against the purchase by the
3d Ave. Ry. of certain securities of the N. Y. City Interborough and the
Belt Line Ry. Corp. (see annual report of 3d Ave in V. 99, p. 1447). The
Issuance of a further $2,020,500 of bonds was authorized Oct. 8 1915. which
were issued and purchased by the company as an investment for the
depreciation fund.
Valuation.— For appraLsal of system in 1918 see V. 106, p. 1462.
Transfers.— On Nov. 1 1912 began transferring to the Second Ave. R R .
ny way of the Belt Line Ry. Corp.’s 59th St. line The last-named com
pany is now part of the Third Ave. Ry. system. On M ay 25 1917 applied
to P. S. Comm, for permission to charge 2c. for transfers without further
charge for a re-transfer.
In May 1918 the P. S. Comm, adjourned the hearings on this petition
following the decision in the Rochester Fare Case (V. 106. p. 1461). in
which it was held that the Comm, was without power to grant increases In
f a r e s w h e r e t h e c o s . w e r e b o u n d b y fr a n c h is e s t o a m a x i m u m f a r e .
See
V . 106, p . 2650.
Strike, &c.— S e e N e w Y o r k R y s . C o . a b o v e a n d V . 1 0 3 , p . 2 0 7 9 , 2 4 2 9 .
S ee a ls o V . 1 0 7 , p . 9 0 7 .
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
See text
Stock $16,590,000 ($100)............................... ....... $10,590,000
3d Av RR 1st M g ($l,000)-tf]1887
5 g J-J
5.000.000 July 1 1937
(Int. at Farmers’ Loan & Tr. Co., N. Y .
First refund M $40,000,000/ 1911
4 J-J
21.990.500 Jan 11960
gold («ee text)___ c*Jcr*tf lin t, at Central Tr. Co.. New York, Trustee.
Adjust iuc mtge $22,536,000/ 1911
5 A-O
22.530,000 Jan 11960
gold (see text)___ c*& r*tf(lnt. at U. S. Mtge. S Tr. C o., N. Y .. Trus.
c
Stock and bonds all listed on N. Y . Stock Exchange.
Bonds.— Coupon bonds of both issues are in donom. $500 and $1,000.
registered bonds are for $500 and $1,000 or multiples of $1,000. Of the
1st ref. bonds, $10,071,500 are reserved for underlying bonds and re
mainder for future extensions and Improvements, under proper restrictions.
Of the bonds reported outstanding, $2,520,500 are In the depreciation and
contingency fund at the disposal of the company. Redeemable on any
Int. date at 105 and Int. on 3 moa.' notice. See V. 94, p. 700. Int. on
Income bonds Is cum. after Dec. 31 1912. Inc. bonds are red. a« a whole
but not in part on 1st day of any month on 3 mos.’ notice at par and Int.
$320,000 have been purchased by tho company. V. 102, p. 887. Adjuat.
Inc. mtge. holders to have full voting powers until full int., including
accum., shall have been paid for five successive years. See V. 94, p. 706.
Dividends on Income Bonds.— An initial dividend of 15i % on the adjust,
inc. bonds was paid April 1 1913 for the 8 mos. end. Doc. 31 1912. V. 90,
p. 136. Regular semi-annual divs. of 2H % each were paid to and incl.
Apr. 1917. In Oct. 1917 paid 1 \ i% . Apr. 1918 int. passed. V. 106, p. 930.
None since. V. 107, p. 1194.
Dividends on Stock.— Initial quar. dlv. of 1% was paid Jan. 1 1916.
A p ril 1 % ; J u l y . 1 % ; O c t . , 1 %
The J a n . 1 9 1 7 dlv. w a s o m i t t e d on ac
count of the strike in 1916. V. 103, p. 2079. None since.
Mile.
ROAD—Operated.
Miles.
Third Avonue Ry. C o ._ .._ . 27.188 Bronx Traction C o _________ 22.938
Klngsbridge Ry. C o________ 7.150 N. Y . City Interboro. R y. Co. 37-334
42d St. M. A St. N. Ave. R y . 20.291 Southern Boulevard R R ..._ 10.067
Dry Dock E. B. & B. R R .. 19.158 Westchester Elec. R R ______ 40.586
Belt Line Ry. Corp________ 24.596 Yonkers R R _______________ 44.003
Third Ave. Bridge C o______ 3.631 N. Y . West. & Conn. Trac._ 5.675
Mld-Orosstown Ry. C o_____ 5.254 Pelham Park & City Isl. R y . 3.286
Union Ry. Co. of N. Y . City 96.502
Total.....................................367.559
OARS.— Owns 1,134: controls 563; total, 1,697 cars.
REPO RT.— Years end. June 30 (1916-17 report in V. 105, p. 1515,1532)
1 9 1 7 -1 8 .
$
T o t a l o p . r e v . _ 1 0 ,2 3 4 ,4 8 5
T o t a l o p . e x p . . 7 ,3 3 5 ,8 6 4
N e t o p . r o v . 2 ,8 9 8 ,6 2 1
T a x e s ____________
8 3 5 ,4 1 1
1 9 1 7 -1 8 .
1 9 1 6 -1 7 .
$
8 ,9 7 2 ,6 4 8
7 ,2 8 7 ,8 4 0
S
1 9 1 6 -1 7 .
S
1 5 7 ,7 6 8
1 6 4 ,9 2 5
I n t e r e s t r e v ____
G r o s s r e v e n u e . 2 ,2 2 0 ,9 7 8 1 ,0 5 5 ,2 8 3
In te re st, ren ts,
& c ______________ 2 , 6 7 8 , 2 7 4 2 , 6 7 7 , 6 1 0
1 ,6 8 4 ,8 0 8
7 9 4 ,4 5 0 ; D iv s
( 1 ) 1 6 5 ,9 0 0
Oper. in c ... 2,063,210 890,3581 Sur. or def..df.457,296dfl788,227
OFFICERS.— Pres., Slaughter W . Huff; V.-Pres., Edward A. Maher Jr.;
Sec., Shelton E. Martin; Treas., A. D. Sage; Aud.. Reune Martin.
DIRECTORS.— Adrian Iselin, Harry Bronner, George W. Davison,
Frederick II. Shipman. W. Emlen Roosevelt, John W. Flatten, Slaughter
W. Iluff, Joseph II. Seaman, E. A. Manice, Edward A. Maher, Lionel F.
Straus, Edward M . Burghard and Alexander F. Webb.— V. 105, p. 2095,
2185; V. 106, p. 716, 823, 930, 1462, 2650; V. 107, p. 83, 803, 907, 1194.
(1) Dry Dock East Broadway & Battery RR.
Receivership Terminated.— On Nov. 23 1917 the receivership begun on
Feb. 1 1908 was terminated by a decree of the U. S. Dist. Court for the
Southern District of N. Y . V. 106, p. 715.
Committee for Certificates of Indebtedness.— Ralph J. Jacobs, F. H. Ecker
and S. Sidney Smith.
ORGANIZATION.— Incorporated Dec. 8 1883- Third Ave. Ry. owns
$1,198,000 of the stock. In Jan. 1906 began operating Grand St. line by
electricity. On Oct. 1 1911 changed from horse cars to storage-battery
cars on Avenue B and Canal St. lines. V. 93, p. 1105. On Oct. 25 1912
recoived permission from P. S. Commission to electrify road on Canal St.
V. 95, p. 1206.
Refunding Plan.— Tho plan datod July 9 1917 (V. 105, p. 497; for refund
ing tho entire debt of the company, except tho general mtge. bonds, was
declared operative in Feb. 1918. Holders of deposit receipts for certfs. of
indebtedness received upon presentation thereof to the Union Trust Co.
of New York series C registered refunding bonds (convertible into coupon
bonds) in tho ratio of $59 10 series C bonds for each $100 par value
of certfs. of indebtedness. V. 106. p. 715. Upon consummation of the
plan tho outstanding capitalization will be as follows:
G e n r e fu n d m t g e s e rie s B ____________
4 J -J
5 2 8 ,0 0 0 J a n .
1 1960
Gen refund mtge ser C
c&r$100&c
Text
050,100 Jan. 1 i960
Bonds.— Of the general ref. mtge. bonds, SI,500,000 are ser A 5% bonds,
of which $950,000 are reserved to retire tho general M . 5s, due 1932, and
$550,000 may bo issued to acquire additional property and for betterments,
but oniy upon the joint consent of the holders of at least 75% of tho aggre
gate par value of series B and series C bonds then outstanding, or after
duo notice and failure of holders of more than 25% of series B and C to
object thereto. Series A bonds are a prior lien and preferred as to prin. &
int. Series B bonds are a prior lien over, and preferred both as to prin. &
int. over, series C bonds. Series C bonds to bear int. to and incl. July 1
1925 at such non-cunilative rate not exceeding 5% per ann. as earnings per
mit. On and after Jan. 1 1926 are to bear int. at the fixed rate of 4%
with an additional 1% if earned. V. 105, p. 497; V. 106, p. 715.
STOCK AND BONDS—
Par.
Interest. Outstanding.
Maturity.
Stock SI,200.000........ ..............$100
6 Q-P
$1,200,000 See text
General mtge gold 1892--n tf f 1.000 5 g J-D
950.000 Dec 1 1932
\Farmers’ Loan & Trust C o., Trustee.
ROAD.— 19.158 miles of track.
REPORT.— See above.
IN D E X .— V. 103, p. 239; V. 105, p. 497, 1522; V. 106, p. 715, V. 107
p. 1192.
(2) Forty-Second Street M anhattanville & St. N icholas Avenue
Ry.— A horse road, but NoV. 11 1900 changed to electricity. Operates the
Third Avenue Bridge Co.
On Sept. 11 1912 Judge Lacombe signed an order discharging the receiver.
V. 95. p. 679. Nothing is being paid on 2d mtge. 6s—all of which are
held by Third Avenue Ry.
In Dec. 1910 Pub. Serv. Comm, granted authority to operate 110th St.
Ino permanently by storage-battery power. V. 91, p. 1700.
ORGANIZATION.—Chartered Aug. 29 1878- In Nov. 1895 control
was purchased by the Third Avenue RR. See V. 61, p. 928.
In Dec. 1899 began to use underground electric system from Fort Lee
Ferry to Boulevard, then to Fifty-ninth Street.
$2,471,300 stock aud all the $1,487,000 outstanding 2d mtge. Incomes are
owned by Third Ave. Ry.; the remaining $113,000 2d mtge. bonds have
been retired.
•
On June 21 1912 Pub. Serv. Comm, granted auth. to extend for 30 years
to Mar. 1 1940 at 5% the 1st M . 6s matured Mar. 1 1910. V. 94. p. 1695.
82
ELECTRIC RAILWAYS
Par.
Interest. Outstanding. Maturity.
STOCK AND BONDS—
_______
$2,491,900 ________ Stock authorized $2,500,000. . $100
1.200.000 Mar 1 1040
Flrst mortgage gold 1880--tf 1.000 5 M-S
Interest at Cent. Trust C o., N. Y . Clty.Trufl
Ked at 1 1 0 any lnt date.
Second mtge Income 6 s 1885 1.000 0% as earned See text Jan 1 1915
$1,600,000_____________ tflC ent. Trust C o.. N. Y ., Trustee.
HOAD.— 20.291 miles of track. Also operates the 3.631 miles of Third
Avenue Bridge C o.’s track.
R EPO RT.—-See above.— Y. 94, p. 1695; V. 95, p. 679; V. 107, p. 1192,
(3) Union R a i l w a y Co. of New York C ity.— A t r o l i o y r o a d .
O R G A N I Z A T I O N . — O p e r a t e s f r o m 1 2 9 th S t . a n d T h i r d Ave. t h r o u g h
the Borough of the Bronx, and with subsidiary lines continuing thence to
and through M t. Vernon.
. , _
_
_
_
O w n s $ 5 8 ,1 0 0 (a ll t h e o u t s t a n d i n g s t o c k ) o f t h e B r o n x T r a c t i o n Co.
New Franchises.— On July 2 1914 the Board of Estimate and Apportion
ment granted the company a franchise to cross the Willis Ave. bridge over
the Harlem River to 125th St., and along 125th St. to the Fort Lee Ferry.
The P. S. Comm. In approving the franchise exempted the company from
exchanging transfers with the Third Ave. and 42d St. M. & St. N. Ave
companies at intersecting points in said franchise. V. 99, p. 50. In 1917
was granted a franchise for a line to the Dyckman Street Ferry, and in
Mar. 1918 received authority for its construction. See V. 106, p. 1231,
under "Rapid Transit in New York.”
STOCK A N D BONDS.
Par.
Interest. Outstanding. Last div..A c
Stock ($100) all owned by 3d Ave.
$2,000,000 ------- - - - - First mortgage 1 8 92g old -.tf./ 1,000
5 g F-A
2,000 ,W)0 Aug 1 1942
\Int. payable at Central Tr. C o., N. Y . City
Guaranteed Loans—
500.000 July 1943
Westchester 1st M gu p & il $1,000 5 g J-J
gold 1893...................... ntf I Bankers Trust Co New York, Trustoe.
250.000 July 1 1915
Southern Boulevard RR l s t l -----5 g J-J
gold 1895_____________ tf/Oentral Trust Co. New York, Trustee.
See below
Yonkers RR flmt mortgage— ------------R O A D .— Including Bronx Traction, Westchester Elec. R R . and Southern
Boulevard R R .. operates 170.093 miles of track.
REPORT.— See above.— V. 94. p. 489. 1318; V. 99. p. 50, 1971.
(a) Bronx T raction Co.— A trolley road.
ORGANIZATION.— Incorporated on May 12 1904, and is a consolida
tion of several small companies. See V. 78. p. 2333. Entire stock ownod
by Union Ry.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Stock $585,100 ( $ 1 0 0 ) - . - - - ——
------- -- .
$88,100
----- —
ROAD.— Owns 22.938 miles of track, operated by Union R y., from Bronx
River by West Farms Road to Westchester Village; from Bronx River by
Southern Westchester Turnpike to Westchester Village; from Main St.,
Westchester Village, to Eastern Boulevard, and from West Farms Road to
Bleecker St. Standard gauge; 109-lb. rails.
(4) Yonkers Railroad.— A trolley road.
In July 1912 Supreme Court of Westchester County made an order dis
charging the receiver. V. 95, p. 112.
Operating Agreement with Union Ry.— On May 25 1911 Pub. Berv. Comm,
approved the terms of an agreement whereby cars of the Yonkers R R .
wonld run over certain tracks of the Un/on Ry. to the terminals of the New
York City subway aud clovated lines. This reduced from 15 to 10 cents tho
fare from Yonkers to lower Manhattan, restoring the old rate as before tho
breaking up or the Metropolitan Street Ry. system. V 92. p. 1245, 1438.
Strike.—See New York Railways Co. above and Third Ave. Ry. in V.
103 p. 2079. Service on the Yonkcrs-Hastlngs division, which had been
practically suspended since Sept. 1916, owing to labor troubles, was re
sumed on Dec. 27 1916. Service to Uniontown was resumed some months
[Vol . 107
FEDERAL LIGHT & TRACTION CO.
In Oct 1916 Westlnghouse Elec. & Mfg. Co. Interests and Samuel Insult
of Chicago acquired substantial holdings in the stock and other securities
of the company. V. 103, p. 1687.
ORGANIZATION.— incorporated In 1910 in New York. Holds a con
trolling Interest in the following companies operating gas, electric lighting,
steam heat, ice and traction properties located in cities mentioned in titles.
Albuquerque (N. M .) Gas & EL Co. Las Vegas (N. M .) Lt. S Power Co.
c
Central Arkansas Ry. & L t. Corp., Las Vegas (N. M .) Transit Co.
Hot Sprinrs, Ark.
Rawlins (W yo.) Elec. Lt. & Fuel Co.
Hot Springs Street Ry. Co.
Sheridan (W yo.) County Elec. Co.
Hot Springs Water Co.
Springfield (M o.) Ry. S. Light Co.
r
Citizens' Electric Co.
Springfield (M o.) Gas & Elec. Co.
Consumers' Gas Co.
Springfield (M o.) Traction Co.
Doming (N. M .) Ice S Elec. Co.
c
Trinidad (Col.)El.Transm..Ry.&Gas
Grays Harbor Ry. S Lt. C o., Aber Tucson (Arlz.) Gas, Elec. Light &
c
deen. Wash. (V. 8 6 . p. 420).
Power Co.
Hobart (Okla.) Electric Co.
, Tucson (Arlz.) Rapid Transit Co.
The entire capital stock and all the underlying bonds of all of the above
19 companies, except the $1.200,000 pref. stock and $1,952,000 1st lien
bonds of the Central Arkansas Ry. S Lt. Corp.; $567,000 preferred stock
c
and $1,959,500 bonds of the Springfield Ry. & Lt. Co. and $100 par value
of bonds and $86,050 stock of Tucson Rap. Tr., have been acquired. See
description of properties in V. 90, p. 1490.
Tucson Rapid Transit Co.— See ‘ New Franchise” in V. 99, p. 1912.
In the early part of 1913 sold the Montrose (Colo.) Elec. Lt.& Power Co.
In Dec. 1913 $725,000 10-year gold notes were issued (auth., $10,000,000,
see below) carrylag an equal amount of common stock option warrants
entitling holders to obtain such stock at par any time prior to Dec. 1 1923.
See also V. 97. D. 1583, 1822. In Juno 1914 a further $715,000 of these
notes were issued at 6 %.
STOCK AND BONDS—
Date.
Interest
Outstanding. Maturity.
$4,750,000 ...................
Common $$.500,000 ($100)...................................
Q-M
2.500.000
See text
Prer $5,500,000 6 % cum ($ 100)___
________
First lien s f M $50,000.0001 1912
5 M-S
3.877.000 Mar 1 1942
gold ($590 S $1,000)___ c*lOolumbia Trust C o., N. Y ., trustee.
r
Convertible debentures $1,-1 1912
6 M-S
1.500.000 Mar 11922
500,000__________________ (Brooklyn Tr. C o., Brooklyn, N Y ., trustoe.
10-year gold notes, $10,000,-/ 1913
6%
715.000 Dec 1 1923
000 ...................................... { 1913
7%
725.000 Dec 1 1923
1Columbia Trust C o., N Y.. trustee
Bonds.— Of the remaining 1st lion sink. fd. bonds. $1,686,667 are reserved
for conversion of debs, aud $44,088,333 are for Impts., betterments and ac
quisitions under conservative restrictions. $368,000 retired by sk fd. Red.
as a whole but not in part at 102 and lnt. Annual sk. fd. of 1)4 % of bonds
out Mar. 1 1913 to Mar. 1 1923; 2% 1923 to 1933; 2 )4% 1933 to maturity.
Payments for redemption of bonds if purchasable at or below 102 and int.,
otherwise to be Invested In new property subj. to the mtge. See V 94 p.910.
659. Debentures are conv. at 90 Into 1st lien bonds after Mar. 1 1913. and
more than 5 days before debentures have been called at par. provided consol,
net earnings, excl. Springfield, exceed 2)4 times Int. on 1st M. out and
Issuable agalust converstou. Red. as a whole but not In part on any Int.
date at par and lnt. on 6 weeks' notice, and, If presented for oxchauge for
first lien bonds, may be taken up at 101 and lnt. In cash. Conv up to and
Inch 6 th day precedlug date fixed for redemption. V. 96, p. 284. Tho
notes of 1913 are redeemable at 105 an 30 days' notice until June 1 1921;
thereafter at par and lnt. V. 97, p. 1822, 1583.
Dividends.— On pref.— 1)4% — paid quar. from Sept. 1910 to and Includ
ing Sept. 1914. Dir. payments since have been deferred (V. 99, p 1673).
EARNINGS.— Of controlled companies after elimination of Inter-com
pany earnings (excludingdepreciation).
Calendar
Gross
Net
Interest Cent.Ark.Ry. Spr. Ry. Balance.
Years—■ Earnings. Earnings. Charges. & Lt. Pf. Dio. Din.
Surplus.
*atf ’nVes.— The co. has petitioned the Yonkers Common Council to suspend
$856,846 $594,454
$84,000
its franchise until ono year after tho end of tho war so that fares may be 1917............ 82.867.310 864.249 586,046 (7%) 84.000 *39,290 *139,102
1916............ 2.502.142
35.009 159.194
Increased. V. 107, p. 1103.
2.352.015 806.299 589.342
(7%)S4.000
ORGAN IZATION .— The Union Ry. guarantees the $1,000,000 bonds, 1915............ EARNINGS.— For 12 mos. ending Juno 30: 23,890 109.067
LATEST
& 1. V. 67. p. 635. $992,500 stock owned by Third Ave. System.
1917-18____ $3,250,054 $1,003,504 $603,567 (7%)$84,000 $39,680 $276,257
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
1916-17____ 2,596,340
890,751 586,519 (7%) 84,000 37,816 182,416
Stock $1,000,000 ($100)__________ ____________
$1,000,000 ...................
ROAD — Controlled properties operate 74 miles of track.
First mtge gold $1,000,0001 1896
5 A-O
1,000,000 April 1 1948
OFFICERS.— Pres.. Edwin N. Sandorson. V .-Ps., Francis Blossom.
guaranteed.....................ntf/Bankers Trust C o., New York. Trustee.
Craig Colgate and Louis C. Gerry; Troas. S Asst. Sec., J. Dunhill; Sec.,
c
ROAD.— Owns 44.003 milos of track.— V. 103, p. 2429; V. 107, p. 1103. J. B. Marsh; Asst Troas. Richmond Talbot.— V. 103, p. 1687; V. 104,
p. 1387/2452; V. 106, p. 1900; V. 107, p. 696.
(5) Kingsbridge Railway.
ORGANIZATION.— Incorp. Jan. 25 1898. The franchise, the terms of
(1) Central Arkansas Railway & Light C orporation.
which are 4% of gross receipts for the first 5 years, 6 % Tor tho second, S%
On Mar. 1 1913 was taken over by Federal Light & Traction C o., which
for the third and 10% thereafter, is for 25 years, with privilege of renewal owns entire common stock.
under certain conditions for another 25 years. At the end of the term the
ORGANIZATION.— Incorp. Peb. 19 1913 In Virginia, taking over the
city acquires tho property, paying for it in accordance with definitely Hot Springs St. Ry. and other properties. Through Its constituent com
prescribed rules for fixing Its value. V. 69, p. 1248. Work on this tine panies does entire water, street railway, gas, oloctric light and power busi
was begun In July 1901 and completed in 1902. Runs from Amsterdam ness in Hot Springs, Ark., and vicinity, lias contract with city of Hot
Ave. and 162d St. to Broadway and 225th St., making 7.15 milos addi Springs for street lighting.
tional. Entire $8,600 stock owned by the Third Avenuo R y., which com
Franchises.— Street railway expires In 1954, and exclusive as to streets
pany also operates the property.
occupied until that date. Water, exclusive and expires Nov. 1931. Elec
tric light and power, expires 1933. Artificial gas, unlimited as to time.
(6 ) Now York City Interborough R y.— A trolley road.
The Third Ave. Ry. owns $4,500,900 stock and $2,077,000 1st M . bonds. Also has natural gas franchise, oxpiring In 1931. Should supply of
ORGANIZATION.— Incorporated In New York on March 24 1902, in natural gas Nil. company will revert to artificial gas franchise
Fare Increase.— In Mar. 1918 tho Hot Springs Street Ry. Co. dis
the Interest of the Interborough Rapid Transit C o., to build an extensive
system of feeders for the subway and elevated lines in the Bronx, and to continued tho sale of 6 tickets for 25 cents and books of 25 tickets for $1
and adopted a straight 5-cent faro. V. 106, p. 1036.
afford stroot railway connections across tho llarlem River bridges.
Decrease in
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. capital stock Stock.— In May 1917, shareholders votod to docrease the auth.
from $7,009,000 com. and $3,500,000 pref. to $2,500,000
Stock, $5,000,000 ($100)-------------- -----------------$5,000,000
............. common aud $1,500,000 7% pref. stock.
First mortgage. $5.000.000,\ 1905
4 g M -N
2.164.000 May 1 1928
Maturity.
STOCK AND BONDS—
Date.
Interest. Outstanding.
sinking fund, g o l d ----- tf [U. S. Mort. & Trust Co.. N. Y trustee.
________ $2,500,000
Bonds.— Of remaining 1st M . bonds, $87,000 are in sinking fund and Common $2.500.000_________ _____
1 .200,000
Sept'18.154
Pref cum $1,500,000 ..........................
7 Q-M
$838,000 arc in treasury.
5 g M-S
1.952.000 Mar 1 1928
_
_______
ROAD.— 37.334 miles of track. Throe-cent transfers are exchanged at First lien $7,000,000 ($1,000,/ 1913
$500 and $100) gold___ c*Unt. at Columbia Trust C o ., N. Y .. trustoe.
certain points with the subway system aud the Manhattan Elevated RR.
Preferred stock Is redeemable at 110 aud accrued dlv Dividends are guar,
— V. 93, p. 1191; V. 94, p. 279. V. 95. p. 544. 1274.
by Federal Lt. S Trac. C o., by endorsement. Additional pref. stock may
c
(7) Belt Line Railway C orporation.— Storage-battery and electric.
issued under conservative
96, p.
ORGANIZATION.— Incorp. at Albany on Dec. 24 1912 to take over heBonds.— Additional bonds restrictions. V.for 80%715. cost of additions,
may bo issued
of
the Central Park North & East RIvor R R .. sold at foreclosure on Nov. 14 extens. and Impts. when net earnings aro double tho int. cliargos on bonds
1912 to Edward Cornell (V. 95, n. 1331, 1402; V. 104, p. 1701). In March out, Incl. those proposed to be issued. Sink, fund which began Jau. 1915.
1913 was taken over by Third Ave. Ry. V. 96, p. 864. 948.
at least 20%
by maturity $159,000 in sinking
On Nov. 1 1912 the old Cent. Park N. & E. River RR. began transferring will retire bonds subject of entire issue intorost date at 102
Ad
to call on any
passengers for a single 5-cent fare to N. Y . Itys. and Third Ave. Ry. lines fund
Dividends.— First div. on pref.— 154%— paid Juno 2 1913; 1 54% has boon
on 59th St. See "New York Railways” on a preceding page.
Sopt. 1918.
In Mar. 1913 P. 3. Comm. auth. tho making of a mtge. for $4,000,000 paid quar. since to and incl. earnings
EARNINGS.—Combined
for calendar year
1st M . 5s aud the issuance of $1,750,000 bonds thereunder at not less than 1917, gross, $545,456; in 1916, gross. of constituent cos. gross. $470,972.
$494,109; in 1915,
95. Entire stock and bonds owned by Third Ave. Ry.
HOAD.— Operates 13 miles or track; 60-lb. rails. 29 passenger ears
On Nov. 7 1913 the P. S. Comm, granted the Joint application of this co.
OFFICERS.—Pros., E. N. Sandersou; V.-P. S Troas., J. Dunhill; Sec.,
c
and tho Third Ave. Ry. to Increase the auth. stock from $600,000 to $750,
000 and for the issuance of $253,000 stock to the Third Ave. R y. In payment E. K. H. D'Aeth.— V. 96. p. 789; V. 104. p. 2451.
of advances for the purchaso of storage-battery cars. V. 97, p. 1356.
(2) Springfield (Mo.) Railway & Light Co.
As of Mar. 1 1911 entire stock was acquired by Fed. Light <c Trac. Co.
S
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
$734,000 .................
Stock $750,000.......................................................
ORGANIZATION.— Incorp. In Maine In Nov. 1905- Owns entire
1 st mtge $4 ,0 0 0 ,0 0 0 gold red) 1913
5%
See toxt Jan. 1 1943 capital stocks of tho Springfield Traction Co. and the Springfield Gas S Elec
c
as a whole at 105.............tf (Central Trust C o., N . Y .. trustee.
tric Co. The Klckapoo Transit Co. is also part of system. Electric Light
Bonds are guaranteed by Third Avenue Ry.
franchise perpetual; gas franchise expires in 1929; street railway franchise
ROAD.— Owns road on 59th St., East and West, with bolt line on East in 1944 aud steam heating franchise In 1936. Does entire traction, gas.
and West Sides to South Ferry— 24.596 miles of track. All elec, on 59th St. electric light and power buslnoss of city. Also does steam heating. In
Horse cars were replaced by storage battery cars on East and VVest Side belt 1915 entered into a new 5-year street-lighting contract with city.
lines. Owns 79 storage battery cars.— V. 98. p. 1692. 1919; V. 99. p. 1450.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
(8 ) Mid-Crosstown Railway Co.— Storago-battery cars.
________ $1,100,000 --------------Common stock $1.600.000___ _____
Acquired by the Third Ave. Ry. late In 1913.
Preferred $2 ,0 0 0 ,0 0 0 cum..............
7 Q-J
567.000 O ct.'18. 154
ORGANIZATION.— Incorp. In New York on Feb. 14 1912, in tho Inter 1st lien mtge $7,000,000 gold? 1911
5 g M-N
1.959.600 May 11926
est of the reorganization committee, as successor to the 28th & 29th 8 t».
($500 & $1,000) sink rd..c*(Guaranty Trust C o.. N Y . trustee
Orosstown RR., sold at foreclosure on Jan. 4 1912 (V. 94, p. 69; V. 104. p. Gold n o t e s ..-.......................... 1916
Seo toxt
287.000
Seo toxt
1703 2119. See plan of reorganization In V. 93, p. 1790.
Preferred stock is pref. as to dividends and assets aud is red. at 116 and
In Feb. 1914 the P. S Comm, authorized the Third Ave. Ry. to acquire accrued dlvldeud.
and hold the $150,000 stock of the Mld-Crosstown Ry. C o., Inc., and In
Bonds.—$4,760,000 1st Hon bonds are reservod for additions and impts.
April 1914. in payment therefor, the Third Ave. R y. Co. issued $180,000 of at 80% of cost under certain restrictions. Annual cumulative sinking fund
bonds, and gave its 4% promissory note for $250,000, payable in throe equal began Mar. 1 1913 and provides for 25% of all bonds Issued. $280,500 In
annual Installments, and canceled claims amounting to $34,442 against the sink fd. Sub. to call as a whole or for sink, fund at 102 and Int on anv
Mid-Crosstown Co. (V. 99, p. 1447).
int. day. Int. is pay. in New York, Boston or Chicago. V. 92, p. 1566.
Stock, authorized and outstanding, $150,000 ($100).
Of the notes $26,000 fall duo on Nov. 1 1918 and $261,000 mature In 1921.
ROA D .—Track operated, 5.254 miles.— V. 98, p. 304, 306, 611.
The former bear int. at 5% and tho latter 7% .
Dividends.— Initial div.— 1)4% —on prof stock paid April 1 1915;
(9) Pelham Park & City Island Ry. C o., Inc.
ORGANIZATION. &c.— Incorp. May 10 1913 in N. Y . and on July 9 same rate quar since.
EARNINGS.— For 12 mos. end. Doc. 31 1917, gross, $575,443; not
1914 the Third Ave. Ry. acquired control. Auth. common stock. $125,000;
outstanding. $45,000. Length of road. 3.286 miles, from Belden Point, (after taxes), $129,582; int. cliargos, &c., $124,081; surplus, $5,501.
In 1916, gross. $556,698; not (after taxos), $177,773; interest, &c., $108,770;
City Island, to Eastern Boulevard, or New Rochelle Road. Operation by
surplus, $69,003.
.
storage battery was begun Aug. 18 1914. V. 99, p. 610.
p.
Se p t ., 1918. |
ELECTRIC RAILWAYS
ROAD.— Operates 23 miles of track; 59 pass. cars. 60. 70 and 80-lb. T
rails. Power station capacity. 3,250 k. w. Also has contract with Ozark
Power A Water Co. for purchase of 2,875 k.w.— V. 100,p. 982; V.105,p.2367.
(3) Trinidad (C olo.) Electric Transm ission, Ry. & (la* Co.
Federal Light & Traction Co. owns all the $3,000,300 outstanding stock
and the $2,038,000 bonds outstanding.
,
ORGANIZATION.— Incorp. In Colorado on Aug. 7 1911 as successor
to the Colo Ry.. Lt. & Pow. C o., sold at foreclosure Aug. 2 1911. V. 93,
d 409. Supplies electricity to mines and cities of Las Animas and Huer
fano counties, Colo. Controls the entire gas. electric light and street rail
way business of Trinidad,C olo..and operates an Interurban railway connect
ing Trinidad with Tbomasvllle. Cokedale, Jerryvlllo. Piedmont, Jansen.
Starkvllle and Soprls. Gas and electric franchises run from 10 years to
perpetuity. 8 treet railway franchises run for 50 years from 1903.
Power Contract.— Has a contract to supply the St. Louis Rocky Mtn. A
Pacific Coal Co. with $60,000 worth of jjower annually. V. 99, p. 1912
Also has a contract with the Colorado Fuel A Iron Co.
ROAD.— Owns and operates 19.4 miles. Power plant capacity, 10,250
k.Y.a. Rail, 60-lb. T ; standard gauge.— V. 93. p. 409: V. 99. p. 1912.
(THE) UNITED GAS '& ELECTRIC CORPORATION .— (See Map
O r g a n i z a t i o n .— Incorp. In Connecticut on June 6 1912 as a consoli
dation of Susquehanna R y., Lt. A Pow. Co. and United Gas A Klee. Corp.
(Incorp. Mar. 8 1912.) Owns entire common stocks of the following com
panies ( V . 94, p. 1388. 1696. Compare also V . 97. p. 720.)
Houston (Tex.) Gas A Fuel Co.
United Gas A Klee. Co. of N. J.
Louisiana Gas A Fuel C o., Shreve
Lancaster (Pa.) Co. Ry. A Lt. Co.
port. La.
Consumers Electric Light A Power
Union Gas A Electric Co. of Bloom
C o.. New Orleans.
ington. 111.
Harrisburg (Pa.) Lt. & Power Co.
Houston Heights (Tex.) Water & Gretna (La.) Lt. A Pow. C o., Inc.
United Gas & Elec. Eng. Corp.
Light Association.
Owns 50.05% of the com. stock of the Utilities OH A Refining Co.
Also owns 60% of the common stock of Internat. Traction C o., Buffalo,
N . Y. (see latter company on preceding page under Buffalo), and over 96%
of the com. stock of Am. Cities Co. (see under New Orleans), acquired by
Issue of $75 o f graduated 2d prof, stock and $25 com. stock for each $100
com. share of the American Cities Co. To do this, the shareholders au
thorized an Issue of $12,500,000 2d pref. stock.
United Gas <£ Electric Engineering Corp.— This co. was organized in 1913
for the purpose o f acting as consulting, contracting and operating engineers
and as purchasing agents for the U. G. A E. Corp. and the Amer. Cities Co.
In Feb. 1916 $5,000,000 additional 0% coll trust sk. fa. bonds were
Issued and offered at 97 and Int. to tho holders of the $4,500,000 3-year 6 %
notes of 1916 (called for payment April 1 1916) In exchange for their hold
ings at 101 h and Int., the difference being adjusted In cash. V. 102, p. 801.
STOCK AND BONDS—
Date. • Interest. Outstanding. Maturity.
Common $20,000,000 ($100)...................................$12,250,820 .....................
1 st pref $25.000,000($100)6%1-----Q-J
9.284.800
See text
cum to Apr 1 ’ 15A7% after/
2 d pref $12,500.000 ($100)................
- ............. 11,003.500 ...................
C o l l a t e r a l t r u s t s in k f d g o l d f 1915
6 g A -O
9,300.000 A p r 1 1945
b o n d s S or " A " $15,000,0001 I n t . at G u a r a n t y T r Co.. N. Y ., T r u s t o e .
( $ 1 ,0 0 0 a n d $ 1 0 0 ) . . c * _tf I a n d P e n n . C o . f o r I n s .o n L A G r . A n ,P h .
Pur money ctfs of Indebtedness-----7%
1,925,800
See text
Stock.—$168,200 1st pref., $3,087 2d pref. and $16,762 com. stock L In
s
treasury. Tho 2d pref. stock Is to boar cum divs., viz., 2% per annum
in 1914. 3% In 1915, 4% In 1916, 5% in 1917 and 6 % thereafter, and will
bo entitled to a preference over common In event of liquidation and subject
In all respects to priority over present pref. stock. See V. <)7. p. 8 8 8 .
Bonds.— $700,000 coll, trust bonds aro in treasury (of which $665,000
aro pledged as collateral security for $643,000 notes payable, remaining
$ 5 ,0 0 0 ,0 0 0 may bo Issued for 7 5 % of tho cost of acquisitions under certain re
strictions. $ 1 , 1 1 1 ,0 0 0 of bonds reports outst’g aro owned by a subsidiary and
deposited as part coll, for Its bonds. The coll, trust bonds are secured by
com. and pref. stocks of the subsidiary cos. having an aggregate par value
of $32,276,600. Rod. as a wholo or In part at 1024$ and Int. on 4 weeks'
notice. A cumulative sinking fund which began July 1 1918 will retire
over 70% o f the bonds at maturity. V. 100, p. 2091. Tax refund in Pa.
For description of Purchase Monoy ctfs. of Indebtedness, see under Utilities
Oil & Refining Co. below.
Dividends on Pref.— An Initial dlv. on 1st pref. at rate of 6 % per ann. (for
period Juno 6 to Sept. 30 1912) was paid Oct. 1 i912. In 1913, 0% . In
1914, April, 3 % . None to Doc. 1916, when 3% was paid. In April 1910
changed dlv. periods to quar. Instead o f s.-a.. and paid 1 !4 %: same rato
quar. to and incl. July 1917; Oct., 1% . (V. 105, p. 1210.) Nono since.
R E PO RTL
—Calendar years (1917 report in V. 106, jp. 2115):
In t., &c.
*Apprec'n
Preferred
Calendar
Income for
Balance,
Charges.
Dividend:
of Prop. Sec.
Year.
Year.
Surplus
$106,225
$738,820
$417,816
1917______$1,417,832
$367,421
560.905
46,563
649,936
1916 .........- 1,293.595
129.317
493,146
52,600
1916 ........... 1,269.392
626.724
2 0 2 121
This Includes the equity In the net earnings from subsidiary corpo
rations, whether actually recolvod in tho form of dlvs. or not. Tho amount
added to surplus account of sub. cos. not declared as dlvs. was $189,374:
from the last-named amt. and the previous accumulations of surplus of
sub. cos., thero were charged during the year various amts, on acc't of
extraordinary expenditures not directly applicable to the operations for
the year, of which the proportion corresponding to the holdings of this cor
poration Is $90,700.
* Represents in 1917 profits from dealings in securities held, including
$140,000 appreciation on holdings of a subsid. co. still owned by tho cor
poration, less sundry charges. In 1916 and 1915 represents appreciation
in value of certain properties still held by tho corpoartion or Its sub. cos.
EARN INGS.— For 12 mos. ended Juno 30 1918: Balance of earns, of
sub. cos., after deducting lixed chgos., $1,406,003; deduct reservo for re
newals and replacements, $404,750, and earns, applicable to stock of sub.
cos. owned by public, $392,936; bal., $608,317; oth. inc., $208,117; total,
$816,434; int. on U. G. & E. Corp. bonds, $558,000; int. on U. G. A E.Corp.
ctfs. of indebt.. $135,948; amort, of debt disc., $56,750; bal., $65,736.
Subsidiary Companies.
Calendar
Gross
Net (after
Fixed
Bal. for
Year—
Earnings. Maint.,<xc.) Taxes.
Charges.
Renew.,&c.
1917............. $16,287,276 $7,288,947 $1,156,371 $3,575,989 $2,556,587
-------------7,428.909 907,100
3.503,160
2,958.643
1910------------- 15,100,156
3,432,308
2,431,990
1915 .............. 13,472,277 6,673,958 809,660
OFFICERS.— Chairman of Board, Goo. Bullock; Bras., E. G. ConnettoV.-Ps., Francis T. Homer and Tracy A. Johnson; Treas., A. L. Linn Jr.
Sec. A Asst. Treas., J. A. McKenna; Asst. Soc. A Asst. Treas., M. D.
Evans; Aud., G. F. Bauer.— V. 105. p. 499. 2095, 2457, 2544; V. 106, p.
002, li2 7 , 1462, 2015, 2115; V. 107, P - 187, 503, 1102.
(1) United Gas & Electric Co.
ORGAN IZATION .— Incorp. In Dec. 1901 In New Jersey. All the com
mon stock was acquired by the Susquehanna Ry. Lt. & Pow. C o., which
on Juno 6 1912 was consolidated with United Gas & Electric Corp. Owns
and controls the following gas and electric properties:
Olt. Gas & Fuel C o., Torre H'te, Ind. ILockport (N .Y .) Lt. Ht. A Pow. Co.
Colo. Spgs. (Col.) Lt. Ht. A Pow. Co. Richmond (Ind.) Lt. Ht. A Pow. C o.
Leavenworth (Kan.) L t., 11. & P. Co. |
Wilkes-Barre (Pa.) Co.
Also controls the Elmira Water Lt. S RR . C o., which see under ‘ ‘El
c
mira. N V ."
In July 1915 disposed o f its holdings of common stock In the Hartford
(Conn.) City Gas Light Co. V. 101, p. 50. During 1915 tho electric
department or tho Richmond Lt., Ht. A Pow. Co. was sold to the city of
Richmond, Ind. The stock investment in the Altoona Gas Lt. A Fuel Co.
was written off, the company having failed to meet Its intorost charges in
1915. due to natural gas competition.
Tho $350,000 gen. mtge. 7% bonds of the Lock. L., II. A P. Co. are to
bo used in tho redemption of $350,000 6 % 1-yr. notes o f that co. which ma
tured July 16 1918 and which wo havo eliminated from the table.
STOCK AND BONDS-—
Date.
Interest. Outstanding.
Maturity.
Stock common $4,000,000........................................ $3,621,000
See text;
Stock preferred $1,500,000
j .j
1.195.800 July 18,24$
First rntgo 53.000.000 ($500)1 1902 6 g J-J
443.500 Jan 11922
and $ 1 ,0 0 0 ) gold.
--C n tf (Interest at New York Trust C o.. Trustee.
Securities of controlled gas and electric companies—
CIt G & Fuel 1st M $500,000 tf 1902 5 A-O
283.000 Oct 1 1922
Citizens G & F 1st ref M $2 .-[1 9 1 0 5 J-J
568.500 Jan 1 1900
0 0 0 ,0 0 0 ($ 100,S500&$ 1,000)lin t, at Now York Trust C o.. New York,
red as a w holes lOSAInt.tf l Trustee.
Ool Spgs El Co lstM ($1,000,-1 1900
5 A-O
1.000.000 Apr 20 1920
000) red at 110 A lnt.c*tflN ow York Trust C o.. New York, Trustee.
83
Datb. Interest. Outstanding. Maturity.
STOCK AND BONDS—
Ool Spgs Lt & Pow 1st mtge 1899
5 A-O
$300,000 April 1 1919
$300,000($500A$ 1 .000) ctf Int. at New York Trust C o .. N. Y ., Trustee.
Ool Springs L H & Power 1st 1910 5 g F-A
1,284,000 Aug 11920
& ref mtge $3,500,000 gold- Interest at New York Trust C o.. Trustee.
M . N. Buckner Is also Trustee.
($100. $500 & $1,000) _c*tf
Leav L II & P 1st M $1,000.- 1908
5 M-S
675.000 Sept 1 1923
000($100,$500A$1,000)c*tf Int. at New York Trust C o., N. Y ., Trustee.
Lock G & El 1st M $300,000 1900
5 F-A
300.000 Feb 1 1920
($ 1 ,0 0 0 ) ......................... ctf Int. at Tr. Co. of Amer., N. Y ., Trustee.
Lock L H & P 1st ref $750, 1908 5 J-J
450.000 Jan
11938
000 ($500 & $1,000).,c * tf Int. at New York Tr. Co.. N Y .. Trustee.
1918 7 J-J
350,000 Jan 16 1920
Lock L H & P gen mortgage
Rich L II S P 1st M $3,000,- 1914 5 M-S
c
188.300 Mar 1 1939
Int.
000($100,$500A$1.000,cArtf ► at New York Trust C o., N. Y ., Trustee.
Demas Doming ls also Trustee.
red (S 105& int........... . . .
i
Rich LH A P notes $1,500,000 1914
0 g M-S
450.000 Mar 1 1919
($1,000, $5,000 & $10,000) Int. at Penn. Co. for Ins., A c., Phlla.. Trus.
Demas Doming is also trustee.
red at 101 & int____ cArtf
TV-BCo IstArefM 57,500,000 1910
6 g J-J
1.772,800 July 1 I960
g($100,5500A$l,000)c*Artf Int. at Girard Tr. C o., Phlla., Trustee.
W-B G A E 1st cons M $3.- , 1905
.
5 g J-J
3,000.000 Jan11955
000,000 g ($1,000)..c*A rtfU n t at Fidelity Trust Co.. Phlla.. Trustee.
Of the bonds listed above. $428,700 are in the treasury.
Bonds.— Citizens' Gas A Fuel first mortgage of 1902 is a closed mort
gage. Of Citizens' Gas A Fuel first and refunding mortgage bonds, $283.
000 are reserved to retire underlying bonds and $1,147,500 are Tor ac
quisitions. extensions. Improvements, Ac., and can only be Issued for 85% of
cost of same. Demas Doming ls also trustee. $1,300,000 of Colo. Spgs.
L., H. A P. Co. 1st A ref. bonds reserved to retire underlying bonds and
$883,000 are for additions, extensions, Ac., at 85% of cost thereof. Re
deemable at 105 and int. on Feb. 1 1917 and at 1024$ and Int on any
Int day thereafter. V. 91. p. 460, 1097. Leavenworth Light, Heat A
Power 1st M . bonds are redeemable at 105 and Int. on any Int. date, $325.
900 bonds reserved for acquisitions and impts. at 85% of cost thereof.
Lockport Light. Ht A Pow 1st ref. bonds are redeemable on any Int date
at par and int. $300,000 reserved to retire a like amount of 1st M . bonds.
T h e L o c k p o r t L . , H . A P . g e n . m t g e . b o n d s a r e s e c u r e d b y a t h i r d li e n o n the
p r o p e r ty , to g e th e r w ith a ll t h e s to c k o f th e In te r n a tio n a l P o w er A T r a n s m .
Co.
R e d . a t 101 a n d i n t . o n 30 d a y s ’ n o t i c e .
O f th e W ilk e s -B a r r e C o .
f i r s t A r e f u n d i n g m t g e . $3,000,000 a r e r e s e r v e d t o r e t ir e W i l k e s - B a r r e
G a s A E l e c t r i c b o n d s . $2,394,000 f o r e x t e n s ., i m p t s ., A c . , a n d S333.200
a r e in t r e a s u r y .
$1,537,300 o f t h o b o n d s o u t a r e g u a r ., p . A i . , b y e n d o r s e
ment by Susq. Ry. Lt. A Pow. Co. SubJ. to call on any Int. day at 105
and int. V. 91. p.658. Wilkes-Barre Gas A Elec, bonds are subj. to call
at 110 and Int. on 3 months’ notice.
Dividends.— On pref. 5% has been regularly paid since Incorp. On c o m ..
in 1905. 1900 and 1907, 4%: 1908 and 1909, 2% : 1910 4% : 1911 4% :
1912, 4% ; 1913. 4 4$%; 1914, 4 4$%; 1915, 4% ; 1916. 7% ; 1917, 4% ; in
1918, J u n e , >$%•
EARNINGS.— Year end. Dec. 31 1917, earnings (less expenses), $290,
776; bond int., $22,248; pref. div., $59,790; surplus, $208,738.
The combined earnings of the subsidiary cos. for the 12 mos. end. Dec.
31 1916, were, gross, $3,515,526; net, after taxes, $1,405,285; charges,
$828,085; ren. and rep. reserve, $201. 537 surplus, $375,663.— V. 93. p.
1783; V. 101, p. 48.
(2) HarrUburg Light & Power Co.
ORGANIZATION.— Incorp. July 1912 to take over the Harrisburg
Light, Ht. A Pow. Co. and Paxtang Elec. C o., whose franchises are per
petual. In Feb. 1913 the Harrisburg Lt. A Pow. Co. purchased the Har
rUburg Steam. Heat A Pow. Co. In Aug. 1913 acquired Steelton Lt., Ht.
A Power Co. V. 97. p. 179. Serves with light and power the city of Har
risburg and the adjacent communities of Steelton, Dauphin, Penbrook,
Paxtang aud Riverside: also serves tho main business section of Harrisburg
with steam heat. Stock auth. and outstanding, $1,750,000 common ana
$1,250,000 6 % cum. pref. stock. All the common owned by the United
Gas A Electric Corporation
In Aug. 1918 the shareholders auth. an increase in the co.’s indebtedness
of $250,000 to provide funds for impts. already made. V. 107, p. 608.
BONDS—
Date. Interest.
Outstanding
Maturity.
HarrUburg Light Ht A Power I 1899 5 J-J
$1,000,000 July
1924
first m ortgage_________ tflCommonwealth Tr. C o., Harrlsb.. Trustee.
Harrisburg 1. A P 1st A ref Ml 1912 5 g F-A
2.325.000 Aug 11952
$10,000,000 g ($100. $500)Fidelity Trust C o.. Philadelphia. Trustee,
aud $ 1 .0 0 0 ) ____ - - *tfcl
Bonds.— Of the Harrisburg Lt. A Pow. 1st A ref. bonds. $1,000,000 are
reserved for prior liens, $6,675,000 for impts., extens., A c., under certain
restrictions. Red. at 105 and int. on any Int. day.
EARNINGS.— Year ending Dec. 31 1917, gross, $898,929; net, after
taxes, $459,926; charges. $168,363; surplus, $291,563. V. 107, p. 60S.
(3) Consum ers' Electric Light & Power Co.
Operates an electric light and power system In New Orleans.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $ 1,000,000........ ....... All owned by United Gas A Elec. Corp.
Preferred $500,000 (7% cum )...........
Q-M
$500,000 Sept. 18.
First mtge 82.500,000 goldl 1911 1 5 g J-J
1,569,000 Jan 11930
($100. $500 and $1.000).c*Unt. at Columoia Tr. C o.. N. Y .. Trustee.
Slock.— Preferred stock 7% cum. from April 1 1913.
Bonds.— $31,000 In treasury. Remaining bonds are for extens., impt.
and betterments. Subj. to call at 105 and Int. No sinking fund.
EARNINGS.— Year end. Dec. 31 1917, gross, $369,368; net, after
taxes, $172,790; charges, $80,696; surplus, $92,094.
(4) H ouston Oas & Fuel Co.
"
Entire com. stock is owued by United Gas A Elec. Corp. Does entire
gas business of Houston and vicinity. Has acquired Houston Gas Oo.
Franchise runs until June 30 1940 and fixes the prices for gas at $1 per 1,000
cubic feet.
Interest. Outstanding.
Maturity
STOCK AND BONDS—
Date.
...................$1,500,000 Mar 18 1%
Common $1,500.000.............— -----Preferred (7% cum) $550.000...........
7 Q-J
550.000 June 18,1 k
Kef A lmpt M $6.000.000___ 1912
5 M-S
580.000 Sept 1 1932
Houston Gas first m ortgage... 1905
5 M-S
961.000 Mar 1 1920
STOCK.— Preferred stock is callable at 110 and dividends.
BONDS.— Additional bonds can be Issued only for 80% of cost of extens.
and Impts. when annual net earnings are double the interest on bonds,
including those to be Issued.
EARNINGS.—Cal. year 1917, gross, $582,666; net. after taxes, $230.
184; charges, $82,264; surplus. $147,920.— V. 96, p. 289; V. 106, p. 818.
(B) Union Gas & Electric Co.
ORGANIZATION.— Incorp. July 6 1899 under the laws of Illinois for
years. Acquired physical property, franchises and capital stock of the
Bloomington Gas Light A Coke Co. and the Citizens' Gas Light A Heating
Co. All com. and pref. stock owued by United Gas A Elec. Corp.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common stock $750,000____ _____
_________
$750,000 __________
2nd pref stock (7%) $250,000 ___
7%
250.000 ....................
1st pref stock (7% ) $ 5 0 .0 0 0 .-------7%
50,000 ----------------1st mtge $750,000 ($ 1,00 0)../ 1905
5%
602.000 Sept 11935
lin t, at First Tr. A Sav. Bk.. Chic.. Trustee.
Bonds.— The $93,000 additional bonds can be issued for 75% of cost
of extens. A impts. when net earnings are twice int. on bonds, Incl. those
to be Issued. Red. at 105 and Int. on any Int. date. Ann. sink, fund o f
5% of gross earnings on and after Oct. 1912. Up to Mar. 3 ! 1918 $55,000
retired.
EARNINGS.— For year end. Dec. 31 1917, gross, $175,905; net, after
taxes, $48,953; charges. $42,523; balance, $6,430.
99
( 6 ) Utilities Oil & R efining Co.
ORGANIZATION.— Incorp in Maine in 1917 to finance the purchase
by the United Gas A Electric Corp. o f a half-interest in the oil and gas
leases covering a valuable producing property of 514 acres in the Augusta
pool of the Kansas oil field, the remaining one-half being owned by the
Magnolia Petroleum Co. (V. 104. p 1390, 1268). The oil company Issued
80,000 shares of capital stock of $5 par value and $2,000,000 5-year 1st M .
7% bonds dated Apr. 1 1916; mortgage trustee is U. S. Mtge. A Trust Co.
Int. payable quarterly. Denom. $1,000 and $100.
Tho majority of the co.'s stock Is owned by the United G. A E. Coro.
Tho $2,000,000 bonds have been exchanged for 7% Purchase Money Ctfs.
of Indebtedness of the U. G. A E. Corp. secured by a like amount at par
of the oil company bonds and having no maturity except upon tho dissolu
tion or winding up of the corporation. The certificates of Indebtedness
are red. In whole or in part at the option of the corporation, on s.-a. periods
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IN C L U D IN G S U B S ID IA R Y C O M P A N IE S O F T H E
A M E R IC A N
G a s , E le c t r ic it y & S t r e e t R a ilw a y s
O j
UNITED GAS & ELECTRIC CORPORATION
AND SUBSIDIARY COMPANIES
***
S t r e e t R a ilw a y s & E le c t r ic it y
G a s , E le c t r ic it y S t r e e t R a ilw a y s & S te a m H e a t
the
/
£
C IT IE S
C O M P A N Y
UNITE D G A S & ELECTRIC ENGINEERIN G C O R P O R A T IO N
ENGINEERS A N D O P E R A T O R S
[V o l . 107
$ ■
& E le c t r ic it y
M
SBfPT., 1918. J
85
ELECTRIC RAILWAYS
at (or, If purchasable, at a less price) 101 and Interest on Jan. 1 1918 and
an lncroaso of 1% premium on each July and Jan. thereafter until 110 has
been reached, and thereafter at 110. For description o f the oil co .’s prop
erty, estimates o f earnings, A c., see V. 104, p. 1490.
on an equal amount of common stock from Jan. 1 1918 to the date of con
version. $21,000,000 are held in treasury and $215,000 have been reacquired
and are held in reinvestment fund, not included in amount outstanding.
Callable, all or In part, by lot or by distinctive numbers at 102 and int. on
4 weeks’ notice. If called for redemption, the right to convert is secured
for at least 30 days prior to redemption date. Additional debentures may
be issued with conservative restrictions. Interest payable without deduc
tion of normal Fed. income tax. V. l06, p. 1120; V. 107, p. 607, 699.
Bonds of Consol. Cities Light, Power A Traction Co.— Those bonds remain
out as a lien on the securities pledged therefor (see * in the table following).
The bonds are subj. to call at 105 on any int. day and are guar., p . & L,
by the Cities Service Co. From Jan. 1 1918 the company will in each year
either ( 1 ) pay to s. f. 1 % of bonds out or (2 ) deliver to trustees bonds or
the present series equivalent at 105 and int. to the above payment, or (3)
expend for construe., acquisitions or impts. a sum equal to twice above
sink. fund. Allicash in sink, fund will be applied either (1) in retiring
these bonds at or under 105, or (2 ) in purchasing bonds of companies whose
stocks form part of security for present series. All bonds so retired or
purchased will be kept alive for sink, fund subject to company s right to
reissue such last-mentioned bonds to a nominal amount, equal to 50% of
its expenditure under (3) above. Maryland and Penn. State tax refunded.
See also V. 95, p. 679, 110: V. 103, p. 1983.
First lien mtge gold (see text) f 1912
5 g J-J z$ 1 0 ,000,000 July 11962
($100, $500 and $1,000, or( Int. at office of H. L. Doherty & C o., N. Y ..
£ equivalent) $10,000,000
or Lloyd’s Bank, Ltd., London,
authorized__________ c * .tf (Bankers Trust C o., New York, trustee.
x $1,067,600 of this amount is owned by Cities Service C o., and $1.
000,000 pledged under mtge. o f Cities Fuel A Power Co.
CITIES SERVICE COMPANY— A holding company.
ORGANIZATION.— Incorporated In Delaware Sept. 2 1910 as a hold
ing company, per plan In V. 91, p. 050, and acquired control o f Denver Gas
& Elec. Light Co. (see that company) and the Empire Dist. Elec. Co. Or
ganized and managed by H. L. Doherty & C o., New York. V. 102, p.
2077. Under a ro-arrangemont of proportios made in March 1913 acquired
control of the St. Joseph (M o.) R y., L t.,H t. A Power Co., Empire District
Gas Co. (subsequently dissolved) and Danbury A Bethel (Conn.) Gas A
Electric Light Co. V. 90, p. 050, 718.
On Dec. 11 1913 the directors o f the Cities Service C o ., Consolidated
Cities Light. Power A Traction Co. and Utilities Improvement C o. unani
mously confirmed a proposition submitted by Cities Service C o. to acquire
the other two companies, as stated in V. 97, p. 1732. By this, plan the
stockholders of Utilities Improvement Co. surrendered (1) their pref. stock
and received Cities Service Co. pref. stock therefor, share for share: also
(2) their common stock and received ono share o f common stock o f Cities
Service C o. for each two shares thereof. Stockholders o f Consolidated Cities
Light, Power & Traction Co. likewise surrendered their stock and received
one share o f Cities Service Co. common stock for each two shares thereof.
The 6 % bonds o f Consol. Cities L t^P ow . & Trac. C o. remain outstand
ing and are guar., p. and I., by the Cities Service Co. See full particulars
regarding the Consolidated and Utilities companies in the issue of this
Section for Sept. 27 1913.
Merger o f Subsidiary Companies.— As o f M ay 1 1910 the Empire Gas S.
c
Fuol Co. took over the Quapaw Gas Co., Wichita Natural Gas Co., Wichita
Pipo Line Co., increased its capital stock from $7,500,000 to $12,500,000
C A PITALIZATION OF SUB. COS.— The following table shows Uie
and issued $14,000,000 1st M . and coll. tr. sk. fd. 6 % bonds duo M ay 1 securities of the subsidiary companies owned or controlled by the uities
1920. See V. 102, p. 1542; V. 103, p. 1034. The ontiro stock of the en Service Co. as of Dec. 31 1917: [par of shares: a $100; b $50; c $25: <$20,
larged co., except directors’ shares, is owned by the Cities Service Co. d $ 1 .1:
Proceeds of the now bonds woro used to retire tho $7,000,000 Cities Sorvlce
-------- Bonded Debt------------------ Stock:— ----Co. 7% conv. notes (called for paymont on or beforo July 12 1910), and
Bonds Cities Service
Amount Cities Sertunderlying bonds and provido for extensions, Ac.
Outstanding.
Company. Outstanding, ice Co.
In July 1910 acquired the Crow L evlckO o.of Phlla., operating producing,
refining and distributing properties In Ponna., Ohio, Okla. and other
$
$
$
%
States. V. 103, p. 400. 760. 1034.
“ 500*0SR aaTa?o~
Acme Power C o-------------As of Aug. 1 1910 acquired over 75% of the pref. stocks o f the Lincoln ♦Alliance Oas & Power O o.
432.600
--------99.8/2
----------------0365,400
......
Preferred s t o c k -----------Gas & El. Lt. Co. (V. 102, p. 1991), Montgomery Lt. A Water Power Co.
----------------0 150.000
99.533
(V. 102, p. 1721: V. 91, p. 340), and Eloctrlc Bond Deposit Co. (V. 94. p. Arkansas Valley Gas Oo---98,000
--------a 100,000 100.00
610: V. 100, p. 1675), In oxchange for Cities Service pref. stock under offer Ashland Gas A ’Elec. Lt. Co
outlined In V. 102. p. 2077.
Athens Ry. & fclec. Oo____
762,000
“ ZSR’RRR 98.906
Pn»fprrp(l at.nr.lc
______
&300.000
......
As o f Sept. 15 1916 acquired over 75% of the outstanding common and
preferred stocks of the Toledo Trac. Lt. A Pow. Co. In exchange for 35% Atlas c S ^ c s : : : : : : :
::::::
a i . m o o o 1 0 0 .0 0
Oltlos Serv. pref. and 7% com. stock for each share of Toledo common, Bartlesville Gas & OH O o._
----------------^ S S ’RRR Ko’ ani
and share for share for preferred. V. 103. p. 1119.
Bartlesville Int. Ry. C o_
_
369,000
ei#*.550 RR’ IRf
In Nov. 1916 contracted to acquire the Kansas Natural Gas Co. and its Berea Pipe Lino C o.............
225,000
C250.000 99.808
•Bristol Gas A Electric C o .
425.000
----“ 300.000 99.1867
subsidiaries through the Empire Gas A Pipe Lino Co. V. 103, p. 2078
Receivership of tho Kansas Natural Gas Co. was terminated Juno 2 1917. Brush Electric Oe............... 1.205.000
419.000 “ 2.Q00.000 99.865
•Cent Ohio Gas & Elec C o . 400.000.
“ 2.500.000 99.916
V. 104, p. 2347.
In July 1917 tho Emplro Gas Fuel C o. was Incorporated In Colorado with
Buckeye State GasAFuel
--------a20O.OOO
--------1500,000 capital stock, all owned by Cities Service C o., to develop oil loasos
Columbus Nat*Gas C o._
38,200
“ 400,000
--------n Wyoming, Utah, Idaho, Arkansas. Washington, Ac. V. 105. p. 72. In
Coshocton Gas C o______
42,000
“ 80.000
--------July 1917 purchased tho Standard Asphalt A Rofg. Co. at Indopondonco,
Preferred stock...........
“ 16-000
--------Kan., from tho Armour Intorosts, and organized tho Atlas Chemical Co.,
Mansfield El L t.A P .O o
..................................
“ 7.300
--------which sells gas to the Toledo Rys. A Lt. Co.
Mansfield Gas Light C o.
20,000
536,500
--------In Nov. 1917 acquired the American Pipe Line Co. (V. 105, p. 2183).
Preferred stock......................................................
593.500
...........
During 1917 also acquired tho Berea Pipe Line Co. and Venture Gas Co.
Medina Gas A Fuel C o -.
200.000
“ iRRRRR
In Dec. 1917 the Cities Fuol A Power C o., a subsidiary, brought out Cities Fuel & Power C o .. 10,000,000
5,400,000 “ 10,000,000 100.00
$10,000,000 2-year 7% secured notes, guar., prin., lnt. and sink, fund, by
American Pipe Line C o.
--------“ 50,000
--------the Cities Service Co. See offering in V. 105, p. 2274.
Franklin Co. Pipe L. Co
.................................
d50,000
- ..........
In August 1918 the co. controlled 120 gas, electric light, heat, power,
...........
“ ZRR’RRR
--------Glenwood Nat.G.Co.,Ltd
water and oil producing and refining properties, operating in 23 States or
Mfrs. Nat. GasCo.,Ltd.
--------“ 800,000
...........
the United State* and the Dominion or Canada, and serving over 200
Securities of sub. c o -----“ 200,000
--------communities.
Below will be found tables giving a completo list o f the subsidiary
sieT foo
2 is :io o
• »»-companies with the outstanding capital stock and bonded debt o f each and
Preferred stock
O400.000
5.4_
the amounts thereof owned or contracted for by the Cities Service C o. The •City Light & W a t « C o— »»550.000
300.000 “ 1.000.000
*9.85
holdings o f the Consolidated and Utilities companies are included in these
______
______
olOO.OOO 100.00
Preferred stock
...
tables, having been taken over by the Cities Sorvlce C o. as o f Nov. 1 1913. Crow Levlck C o................... 3,246.300
a3,001.500 100.00
In May 1914 shareholders ratified an Increase In the stock from $50,000.
Sub. Cos. securities................. .........
...........
l,rl38,500
- 7.-5 5 5 000 ($30,000,000 pref. and $20,000,000 common) to $05,000,000 ($40,000. •Oumb.&VTest.El. R y .O o.
655.000
6 ?RR’RRR oo'a^s
000 pref. and $25,000,000 common). On June 29 1910 authorized stock Daub. A Beth. G JtEl.LtCo
156.000
-----e^OO.OOO 99.938
was further Increased to $ 1 0 0 ,0 0 0 ,0 0 0 ($60,000,000 prof, and $40,000,000 Denver Gas & El. Lt. C o „ 12,855,150
37.000 “ 10,000.000
99.987
common). On Apr. 3 1917 shareholders ratified a further increase In au •Dominion Gas O o............. 4.820.000
570.000 o3.000.000 99.983
thorized stock to $150,000,000 ($100,000,000 prof, and $50,000,000 com .).
Brantford Gas C o ______
85,000
--------<121,820
--------In N ov. 1915 sold $5,000,000 pref. and $2,500,000 com. stock to a syndi
Beaver Oil & G .C o.,Ltd.................................
575.000
--------cate for $5,000,000 cash to retire floating debt and provido working capital.
Domln. Nat.GasCo.,Ltd.
----------------- o l ,250,000
———
V. 101. P- 1627,2071. In Oct. 1910 sold $8,000,000 prof, stock In connec
Ingersoll Gas Light C o ..
30,000
--------“ 40,000
--------tion with the purchase o f the capital stock o f the Crew-Levick C o., Ponca
United Gas Cos., Ltd—
o 3 2R’?RR
--------(Okla.) Refining C o.. Ponca Lubricating C o., Cushing (Okla.) Refining
Woodstock Gas Lt. C o_50,000
--------£S6,120
- -- —
Oo. and the Producers’ Refining C o.. Gainesville, Tex. V. 103, p.
1412. 1301.
D“
r r ^ S . . 0- . : : : : :
0
::::::
ffio o o
ioo J o
In N ov. 1917 lt was announced that tho directors deemed It an inop Electric Bond Deposit C o ..
----------------- “ 1-500,000 100 00
portune time for the consideration of a radical change in any of tho co's
PrflfAiTrtd sfork
__ q 1,600,000 99.4
policies, and so did not act upon the proposition of applying for the listing Empire Dlst. EI#cT"CoIHI 3,498,656
" 7c449 “ 3.000,000
99.95
o f Cities Sorvlce stocks on the N. Y . Stock Exch. and the reduction or
Preferred stock....................................................- - “ 1-003.900
.004
abolition o f tho par value of tho common stock.
15.000
“ «0 .0 0 0
...........
Sub. co. securities........... 1.181,000
In Fob. 1918 issued $3,000,000, Series " B ” 7% conv. debentures to
provido for futuro requirements. V. 106, p. 1126. In Aug. 1918 an addi Emplro Gasoline C o .........----------------- “ 2,000.000 100.00
tional $6,000,000 were brought out. V. 107, p. 607.
Empire G. & F. Co. (C ol.).
“H SS
Emplro Gas & F. Co. (D el.)22,737.000
...........“ 12,500.000
99.978
Slock, A c., Outstanding July 31 1918.
Securities of sub. cos----------------------------- 12,454,000
-----
STOCK (par $100) ETC.— Dale. Interest. Outstanding. Dies.AMaty.
Common stock, $50,000,000----------- Monthly *$32,122,404
See text. Empire G.AF.Co.,Inc.(Va)
- ......... a }'RRR’RRR iRR'nn
______
______ o l ,000,000 100.00
Prefstk.0%cum.$lOO.OOO.OOO - - - - Monthly
*09.960,500
See text. Empire Gas & F.Co. (M o.).
Conv debs Ser ' ‘A $5,000.-1 1910
See toxt
45,383 Jan l I960
Texas Distributing C o.....................
...........
a l 0 2 ’RRR inffnn- "
000 g (red. at 102 & lnt.) tf/Oontral Trust C o., Now York, trustee.
Emplro Gas & Pipeline C o ...................
........... ,„ „ S R ’RRR iRR'RR
.........- a lR’RRR’RRR JRR'RR
Conv dobs. Sorios "B ” $30,-/ 1918
See toxt
8,785,000 Jan 1 1966 Empiro Oil & Gas C o., Inc....................
Empire Petroleum C o................. ..........
........... . n ’SSS’SSS Jm'Se
“
000,000 gold___ c * r _ .tx --l Bankers Trust Co., N. Y .. Trustoo.
a lR’9R2'RRR l®®1
®®
* Including $5,074,032 common stock and $2,600,558 prof, stock in Empire Refining Oo______ 9.621,500
Sub. cos. securities_____
______
______ alO,425,000
--------company’s treasury.
..
. ,,
Sub. cos. securities pref.
______
400,000
-----Dividends.— Monthly dlvs. on both stocks were begun in Jan. 1911
41.000
OI36.300 73.307
Rate Feb. 1 1911 to Jan. 1912, on com ., 3% per annum: Feb. 1912 to Jan Fremout Gas. El. Lt. & P -1913, 4 % per annum: Feb. to Nov. 1913. 6 f
Frost Gas C o____________
29,500
£?S’SSS 10®-®®
Securities of sub. c o s .......................- - “ 210,000
-----
July 1914, 6 % per annum (M of 1% monthly,/; uu y r « ., uy«
ui i-/*
475.000
2,000
adOO.OOO 99.90
monthly) to July 1914. On Aug. 1 1914 payments on both com. and pref. •Knoxville Gas C o_______
Preferred atock
_____
______
______
u100,000
......
were suspended on account of financial conditions growing out o f the Euro311,000
30.000
“ 500,000 25.5
war. See V. 99. p. 073. 466, 400; also V. 99. p. 1130, 1831. Accumu- Lebanon Gas A Fuel C o—
19.300
2.181,200 97.5151
dlvs. on both classes to and lncl. Jan. 1 1910, amounting to 9 % . were Lincoln Gas A Elec. Lt. Co. 1.500.000
Havelock Elec. Light Co
10,000
- ..........
“ 15,000 nZr&SSm
discharged In Jan. 1916 through distribution o f 5% conv. dob. bonds.
750.000
750,000 99.933
See V. 101. p. 1027, 2144. Monthly cash dlvs. o f H % on pref. stock were Lorain County Electric C o .
533,000
“ 500.000 9 9 - 8 6
resumed Feb. 1 1910. On the com. stock a further dlv. o f 3% was paid •Massillon Elec. A Gas C o .
Preferred stock
a249.800
-----
In conv. debentures on July 1 1910 for dlvs. from Feb. 1 to July 1 1916.
1.783.000
139.000...o2.000.000
99.965
both incl. Monthly cash dlvs. of J4% on com. were resumed Aug. 1 1910, •Meridian Light A R y .O o .
Hattleeburg Trac. O o . . .
573,000
106,000
“ 500.000
-----
A dlv. of 2% In com. stock for the year 1915 was paid the com. shareholders
491.100 “ 1.658,100
99.9155
on Sept. 1 1910 and a 4% stock dlv. for 1910 was paid Doc. 1 1910. Stock Montgomery L. A W .P.Co. 2,350,000
Pueblo Gae A Fuel Oo____
613,000
50,000
“ 300,000 50.00
dividends of 0% (X % monthly) wero paid in 1917. Stock divs. of % %
----------------, “ 1*3®®
(making 9% for 1918) aro now boing paid along with the regular cash Republic Construction C o.
- .................... Ol.000.000
99.95
dividends, and stock dividends will bo increased 3% each year there Reserve Gas Oo .
........... “ 3.600.000
94.9743
after, so long as tho company’s earnings warrant. Cash dividends 8 t. Joseph Ry.,Lt.,Ht.APCo 5.751.000
Preferred stock_________
______
— ------ a 1.500.000
19-2-i
will bo restricted to 6 % until such time as there has been Invested in
200.000
“ 500,000 99.90
the property of Cities Service Co., or Its subsidiaries, from the earnings Salina Lt.. Pow. A GasO o.
129.000 “ 4,000,500
99-9875
of the company, a sum equal to tho entire par value o f tho prof.stock •Southern Ont. Gas Co..Ltd 3,984.000
350,000
350.000
*500.000 99.9
then outstanding, unless tho co. shall for a period o f 0 mos. have purchased 8 outhw .Okla.GasA F .C o.
864,000
84.000
“ 2.000.000 99.935
and retired all pref. stock that can be purchased In the open markot at sSpokane Gaa A Fuel C o ..
Preferrsd stock..........................................................
“ 300,000
............
110 or less. See V. 103, p. 1301: V. 104, p. 1387: V. 106, p. 929, 1036.
Sub. cos. securities------550.000
09.500
------- Convertible 5% Debentures, Ser. “ A — Donom. (1) coupon bonds, $1,000,
Sub. cos. Preferred stock
50.000
-----
int. J. A J.: (2) registered bonds, $5,000, $1,000, $500 or $100: lnt. payablo
333,000____
“ 392,600
65.078
by chock, at buyor's option, either monthly. Q.-J., J. & J., or annually Summit County Power O o.
8,699.000
“ 7.960.250
94.0518
Jan. 1; (3) registered bonds. $10 or multiples thereof, less than $100, lnt. Toledo Trac. Lt. A P. C o „
Preferred stock_________
______
______ “ 0.661,675
95.78
payable annually Jan. 1 . All Int. payablo without deduction of normal
Securities held for ex ch ..
----------------1 33,597
--------Federal Income tax. Conv. Into stock prior to Jan. 1 1923 on the basis of
Toledo Ry*. A Lt. C o ...1 4 ,8 9 1.500
“ 13.875.000
1 share of pref. and
sharo com. stock of Cities Service Oo. for each $100,
Other sub. co’s securities 3.325.000
4,539.000
— -—
par value, of deb. bonds. Additional amounts may bo Issued in sories (all
1,119.100
“ 1.500,000
99.42
with the samo maturity) under certain restrictions, any series to have such •Trumbull Pub. Ssrv. C o .
Preferred stock_________
______
______
“ 200 000
--------conv. privileges (If any) attached to It and bear such rate of int., not ex
Unltod W at.. Gas A EL Co. 1.203.500
...........
“ 700.000
99.9
ceeding 0% . as (nay be determined at time of Issuance. V. 101. p. 2144.
Preferred stock_________
“ 350,000
50.00
Convertible 7% Debentures, Ser. “ B.” — Denom. and int. paymonts samo
______
“ 25,000 100.00
as Ser. “ A ,” which see above. Each $100 o f principal amount is con Utilities Construction C o________ ___
...........
...........
“ 13.000 160 00
vertible, at option of holdor, on Jan. 1 1920. or on tho first day o f any month Venture Gas C o ...................
250.000
-“ 500,000
99.7
thereafter, into $80 par value of prof, stock, and $ 2 0 par value of common Washita Gas A Fuel C o „ _ 250.000
300.000
11,000
“ 300 090
99.833
stock, together with an amount of cash and stock equal to tho dlvs. paid Watauga Power C o.............
.
?
K
86
ELECTRIC RAILWAYS
-Bonded. Debl-StockBonds Cities Service
Amount Cities ServOutstanding.
Company. Outstanding, ice Co.
$
$
$
Western Distributing Co__
______
a175 000
99.1
Western Okla. Gas S P.Co.
c
100.000
100,000
a 100 000
99- 50
Consol. Cities Lt. P. & Tr.
Co. bds. secnr.bypl'geof
com.stk. in cos. marked*10,000,000 a l,067.600
a250,000
100.00
9,794,949 176.492,639
...........
T otal............... ............... 135.868,350
•The stock owned in these companies Is largely pledged to secure the
$10,000,060 bonds of the Consolidated Cities L t.. Pow A Trac. Co.
n Includes$250,000 1-yr. secured notes due Sept. 1 1918 (V. 103, p. 846).
s “ Contract for shares ow n ed"
Summary of Capital Stock and Funded Debt Sub. Cos. as o f Dec. 31 1917.
Com. Stock. Pref. Stock. Bonds Out.
Owned directly by Cities Sorv. C o_ 110,717,255
_
Securities owned by sub-ho]ding cos. 46,976,440
Bonds and funds in sinking fu
Outstanding in bands of public______ 3,685,869
8,398,656
739,275
5,975,144
9,794,949
25.817,400
t,042,197
99,213,804
Total...................................................161,379,564 15.113,075 135.868,350
EARNINGS OF CITIES SERVICE CO.— For the 12 months ending
July 31 (annual report for 1917 in V. 106, p. 1336, 1368.)
The “ earnings' as here snown Include noth cue dividends and interest
received and the company's proportion In the undivided surplus earnings
of the subsidiary companies for the periods In question, based on Its holding*
in said companies.
-Month of July— !-------12 Mos. end. July 31—
1918.
1917.
1918.
1917.
Gross earnings_________ $1,789,253 $1,365,312 $21,331,886 $16,559,107
Expenses______________
34,960
34,010
399,580
314,280
Net earnings_________ $1,754,293 $1,331,302 $20,932,306 $16,244,826
Int. on notes and deben.
7,062
229
20,648
3,758
Preferred dividends_______________ 336,509
301,111
3,987,295
3,292,685
Net to common stock
and reserve-------------$1,410,722 $1,029,961 $16,924,363 $12,948,382
Combined Income Account of Subsidiary Companies.
Calendar
Gross
Net (after
Interest Preferred
Surp. for
Year—
Earnings. Taxes. Ac.) Charges.
Dies.
Com. Stock.
1917..$69,634,872
$25,454,032 $5,976,506 $3,943,947 $15,533,580
1916.. 48,052.573
19,143,027 5,076.074
656.670 13,411,183
OPERATIONS, &C.— As of Doc. 31 1917 owned 374 miles o f track: 849
cars: 1,631 miles of artificial gas mains (on 3-lnch basis): 3,818 miles of
natural gas mains: 1,914 gas wells, and 2.655 oil wells. During 1917 carried
115.657,669 passengors, sold 3,080.584 M . cu ft. of artificial gas, 42,355.746
M . cu. ft.of natural gas and 406,015,212 k. w. hours and produced 13,
031,889 bbls. o f oil. For the first 6 mas. of 1918 the gross production of
oil was 8,756,588 bbls.
OFFICERS.— Pres., II. L. Doherty; V.-Ps.. E. Mackay Edgar, Frank
W . Frueauff, Thomas Cartor and E. II. Johnston: Sec., Paul R. Jones
Treas., Louis F. Musil. N. Y. office, 60 Wall St.— V. 106, p. 1336 1347,
1368, 1580, 1698, 2124; V. 107, p. 294, 504, 607, 699. 805, 1195.
(1) Athens (On.) Railway A Electric C o.— A trolley road.
ORGANIZATION.— Incorporated In Georgia on April 1 1910. Pur
chased Athens Elec. Ry. Co. Leased for 99 years from Oct. 1 1910 the
James White Power plant. V. 90. p. 1101. 1423.
Owns and operates
entire street railway, olectrlc light and power systems In Athens. Fran
chise perpetual. Total equipment affords 7,000 hydro-electric h. p. and
3,000 h. p. from steam-turbine plant.
Rates.—-In Sept. 1918 applied to tho Ga. RR. Comm, for auth. to in
crease fares from 5 to 7 cents and also to raise light and power rates. V.
107, p. 1191.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock, com $750,000 ($100).................................
$750,000 Sept 12. 1%
Stock, pref (5 % , cuin) $300.
000 &100)......................................
Q-J
300.000 J'ly’ 18.1X %
lit A ref M $2,000,000 goldl 1910
5 g J-J
_____________________
374.000 July 1 1950
sinking fund ($l,O0O)c* cp tjln t. at Farmers’ Loan & Tr. C o., N. Y ., Tr.
Athens Electric Ry new 1st 1901
6 g A-O
388.000 Oct 1 1931
mtgo $400,000 ($1,000) j Interest at Title Guar. S Trust C o., Atlanta,
c
gold.............................c *cp tl Trustee, or Old Colony Trust C o.. Boston.
Stock.— Preferred stock Is redeemable at 105.
Bonds.— Of the 1st & ref. bonds, $388,000 are reserved to retire under
lying bonds, the remainder for acquisitions and Improvements at 75% of
cost, but only when net earnings are 1)4 times int. on all bonds out and
those to be Issued. $50,000 are In treasury. Sinking fund of 1% began
In 1915. Bonds are subject to call at 110. V. 93. p. 665.
Of the Athens Elec. Ry. new 1st M ., entire Issue, but no lesser part, may
be called at 106 and Int. See V. 73. p. 1311.
Dividends.— On prof., 6% per annum in 1904 and 1905, 5 X % in 1906,
6% 1907 to 1910, 5% in 1911 and since. On common, 4)4% In 1906, 5%
in 1907 and 1908, 5)4% in 1909, 6% in 1910, 2% in 1912; none since.
ROAD.— Owns 10 miles of track. 10-lb., 60-Id . and 70-lb. T and girder
rails: 16 motor cars; power plants, 5,850 capacity.
OFFICERS.— Pros., C. D. Flanigen; V.-P.. F. W . Frueauff; Sec. S
c
Treas., C. D. Cox. Office, Athens, Ga.— V. 106, p. 818; V. 107, p. 1191.
(2) Bartlesville Interurban Ry. Co.
Entire stock owned by Cities Service Co.
ORGANIZATION.— Organised Dec. 8 1905 under laws of Indian Terri
tory. Serves Bartlesville, Smeltertown and Dewey with railway, electric
light, gas and power. Railway franchises expire In 1958. Electric franchise
in Bartlesville expires in 1956; In Dewey. 1937
In Jan. 1917 tho $250,000 (closed) 1st M . 8s due 1934 were replaced by
a new Issue of 1st M . bonds to provide for future urowth of business, Ac.
Fare Increase.— On Aug. 1 1918 was auth. to increase fares from 5 to
7 cents. V. 107, p. 603.
STOCK AND BONDS— Dale.
Interest. Outstanding. Maturity.
Stock $2 50.0 00-.-.............- .................................
5143.550 __________
1st M $1,600,000 gold sk fdl 1917
6 g J-J
369.000 Jan 1 1947
($1,000 and $ 5 0 0 ).--C * .tf{in t. In N. Y. Logan Tr. C o., Phlla., Trns.
Bonds.— Additional bondB may be Issued for 85% of cost of permanent
Impts. and exts.. when net earnings for precedlnv year were at least 2 times
the Interest charge on bonds, tncl. thoie to be Issued. Sink, fund of 1%
per annum o f bonds out, and 2% for last 10 years. > an Investment of 2%
r
of bonds out in exts. and Impts., against which no bonds may be Issued:
bonds In fund to be kept alive. Red. on any Int. date at 102 and int. on 30
days’ notice
Penn. State tax refunded
V. 104. p. 255.
EARNINGS.— For year end. Oct. 31 1916. gross. $163,163; net. $58,351
In 1914-16, gross, $131,905: net, $56,246
vnnual Int. charge on $3503)00
1st M . 6s. $21,000.
ROAD, A c.— Owns and operates 1014 miles In and between Bartlesville
and Dowey. Standard gauge. 60-lb. rails. The luterurban lino Is mainly
on the co.'s right o f way. Power plant nks 1,075 k.w.; 414 miles of trans
mission and 20 miles or distributing lloes.
OFFICERS.— Pres., FI. L. Doherty; V .P .. F. VV. Frueauff; 2d V.-P..
W. II. Merritt; Sec. & Treas., L. A. Ramsey.— V. 105, p. 1801; V. 107, p.
603.
(3) City Light & T raction Co.
ORGANIZATION.— Incorp. In July 1912 in Missouri as successor to the
Sedalla Lt. S Trac. C o., sold at foreclosure. V. 95, p, 419. See plan under
c
Sedalia Lt. & Trac. In V. 94. p. 1058.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
_______
Common $ 1,000.000_________ _____
$1,000,000 ...................
Pref $500,000 (see text).................... -• ..............
400,000 ...................
First mortgage $2,500,0001 1912
5 J-D
815,100 Aug 1 1952
gold sink f(l ($100. $250.1 Int. at office o f co. or H. L. Doherty S Co.,
c
$500, $1.000)...........e 'e p t [ N. Y. Now York Trust Co., N Y „ Trus.
Sinkfd. of 1% o f bonds out commences June 1 1922; red. at 105 and Int.
Divs. on pref. wero paid for the year 1913 at tho rato o f 1% , and Increased
by 1% each year until 1917, when 5% was reached. Divs. aro guar, by
Gas Securities Co. Pref. stock Is convertible into bonds, $ for $, for a
period o f 7 years under certain restrictions.
ROAD.— Owns and operates 8.3 miles of track. 25 cars.
OFFICERS.— Pres., F. W. Frueauff; V.-P. A Oon. Mgr., H. C. Fueurs;
Sec., Allen O’ Barron; Treas., II. C. Fueurs.— V. 99, p. 1299.
(4) Cumberland & W esternport Electric Ry. C o.— A trolley road.
ORGANIZATION.— Organized In Maryland on April 11 1902 by soeetal
Act of tho Legislature, as successor to the Frostburg Eckhart A Cumberland
Ry. Has absorbed the Lonaconlng Midland & Frostburg Ry. and the
Westernport S Lonaconlng.
c
F a r e I n c r e a s e . — In 1018 was auth. to incroase rates on Its lines by 20%.
[V ol . 107
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $1,000,000 ($50).................................... .
$625,000 .................
Weaternport S Lonaconlng cpt 1903 5 J-J 15
c
225.000 Jan 16 1928
Frost Eck&Oum 1st M $250.-1 1901
5*ft J-D 15
230,000 Junel5 1926
000g ($500& $1,000)-C*cptjInt. at Real Estate Trust C o., Phlla., Trust.
Lonac Mid S Frost first mtgel 1901 5 g J-D 15
c
200.000 Junol5 1926
$200,000g ($1,000)--C *cptjlnt. at Real Estate Trust C o., Phlla., trust.
Certain of the above Issues can be called at 105.
ROAD.— Operates 25 miles of track between Cumberland, Eckhart,
Frostburg, Lonaconlng and Westernport; 60 , 75 and 92-lb. T and girder
rail; standard gauge.
OFFICERS.— Pres., H. L. Doherty; V.-P. S Gnn. M gr., B. W. Duncan;
c
8ec.-Treas., D. P. Hartzel.— V. 99. p. 537. 608; V. 104. p. 2451.
(5) Meridian Light & Railway Co.
ORGANIZATION.— Incorp. In Mississippi in 1901 as a reorganization
of the Meridian St. Ry. S Power Co. Doos entire streot railway, gas and
c
electric business in Meridian. Owns all tho stock of tho Hattiesburg Trac.
Co. Franchises are for 50 years from Oct. 4 1895 for street railway and
from Dec. 1900 for gas and electricity.
Rales.— In Aug. 1918 tho Federal Court issued an order restraining the!
City o f Meridian from interfering with tho co. in Increasing fares to 7
cents (4 tickets for 25 cents), power rates 28 to 40% and gas rates 30% .
V. 107, p. 603.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Common $5.000.000.............- ..................... ..............$2,000,000 ____________
1st mtge $750,000 gold ($5001 1904
5 g M-S
750.000 Mar 1 1944
and $1,000____________ c* jln t. at First Nat. Bank of Mobile, trustee.
Gen mtge s r $5,000,000 g c p t 1910
5 M -8
1.023,000 Mar 1 1945
Bonds.—There were $225,000 of first 5s outstanding, but these have been
deposited as collateral for the new 1st M . bonds of 1904. A sinking fund of
1% of new 1st M. bonds out became operative March 1 1900. $124,000 of
outstanding bonds are held (a sink. fund. Bonds are subject to call on 60
days’ notice at 105. V. 92, p. 1311. There aro $181,000 gen. mtge.
bonds In treasury In addition to amount reported outstanding. $760,000
of gen. mtge. bonds are reserved to retire 1st mtgo bonds
Sinking fund
of 1% of gen. mtge. bonds out began Sept. 1 1917, $10,000 (not incl.
in amount reported outstanding) held in sinking fund.
ROAD.— 12 miles of track. 30 care.
OFFICERS.— Pres., H. L. Doherty; V. P .. F. W. Frueauff; V.-P.
S Gen. M gr., H. E. Brandi!; Sec. S Treas. L. H. Archer. V. 90, p. 914:
c
c
V. 91, p. 336; V. 92, p. 1113; V. 107, p. 603.
(a) H attiesburg T raction Co.
Meridian Lt. & Ry. Co. owns all the stock.
ORGANIZATION.— Organized In 1905. Sept. 2 1907 purchased Hat
tiesburg Gas Co. and Hattiesburg Light & Power C o., giving company
control of gas, street railway and electric-light business of city. Streot
ry. franchise 25 years from 1906. Has franchise for lighting city streets.
Fare Increase.— On Aug. 1 1918 put into effect a 7-cent cash faro with
20 tickets for $1 25. V. 107, p. 802.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $500,000.....................................................
$500,000 ...................
1st mtge $300,000 ($1,000) J 1908
6 J-J
250.000 Jan 11928
gold............................ c * cp tlStandard Trust C o., New York, Trustee.
Gen lien mtge $2,500,000 gold/ 1912
J-J
321,000 July 11952
($1,000)......................c .c p tlln t. at National City Bank of Mobilo, trustee
Bonds.— Skg. fd. retires 1st mtge. by purchase $5,000 bonda annually, be
ginning Jan. 1 1909, at a premium up to a 5% basis; bonds cannot be called.
V. 87, p. 97: $50,000 have been retired. Or gen. lien bonds, $300,000 are
reserved to retire 1st mtge. bonds. Bonds are callable at 105 S Int. on any
c
Int. date. Int. at office of trustee and office of H. L. Doherty S C o.. N. Y .
c
Sinking fund. 1% . began July 1 1910.
ROAD.— Has completed 7.34 miles of track. Began operations Sept. 11
1909. New power house, 825 k.w. capacity, put in operation Sept. 2 1909.
OFFICERS.— Pres., F. W. Frueauff, N. Y.; V.-Ps., II. F. Wheelor and
H. II. Scott, N. Y .; Sec. S Treas., Howard McDavld: Gon. Mgr., II. F.
c
Whcoler, Hattiesburg.— V. 93, p. 731; V. 95, p. 679; V. 107, p. 802.
(6) R ichland Public Service Co.
ORGANIZATION.— Incorp. in Ohio in Oct. 1917. Controls tho Mans
field Public Utility A Service Co. (soo this Section for Jan. 1918), the
c
Mansfield Gas Co., and the Mansfield Elec. Light S Power Co., through Its
controlled companies serves Mansfield with railway, electric light, power
and gas. Railway franchises expire In 1925; electric franchise unlimited as
to time.
Bonds Authorized.—Tho P. U. Comm, has auth. the issuance of $1,500,
000 1st S Ref. M . sk. fd. 5% gold bonds against the acquisition of the
c
Melco powor plant, and $1,442,000 against tho taking over or tho additional
properties abovo referred to. Of the aggregate of $2,942,000 of bonds,
$ ,500,000 aro deposited to securo tho $750,000 notes of tho Richland C o.,
and the remainder is to be used In tho retirement of bonds of tho controlled
companies or for the acquisition of their properties.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $3,200,000............ ........................................
$500,000
.............
1st S rof sk fd gold mtge_____1917
c
5%
Soo text
Oct 1 1937
Secured notes $750,000 ($1.-1 1918
7 g F-A
750,000 Fob 1 1920
000) g old .----- ----------c -t f/ln t . at First Tr. S Sav. Co., Olovo., trustee.
c
Bonds.— $1,500,000 aro pledged as collateral to tho $750,000 notes due
in 1920. Bonds have sinking fund.
NOTES.—Are guar., prin. and int., by tho Cltios Service Co., and are
socured by a deposit of $1,500,000 1st S rof. bonds of the Richland P. S.
c
Co. Callable as a wholo or any int. dato at 101 S int. V. 106, p. 1132.
c
ROAD, AC.— Owns and operates 20 miles inandbotweon Mansfield and
Shelby. Standard gauge. Power plant at M elco, O., with 10,000 k. w.
capacity. Transmission lines to Ashland.
OFFICERS.— Pres., R. E. Burger; V.-P., Wm, n . Davey; Sec. & Treas.,
J. E. Loiseau.— V. 106, p. 1132, 1502.
(7) St. Joseph Railway, Light, Heat & Power Co.
On Jan. 1 1913 the Cities Service Co. acquirod control through acquisi
tion of over 91 % of tho common stock. Cltios Service Co. guarantees the
5% div. on tho outstanding prof, stock. V. 96, p. 130. Seoalso V. 97, p.366.
ORG AN IZATIO N .— Incorp. in Missouri on Nov. 17 1895 as a con
solidation of the St. Joseph Traction S Lighting C o., People's R y., Light
c
& Power Co., Citizens’ Ry. C o., Union Ry. C o., St. Joseph A Lake Ry. Co.
and Wyatt Park Ry. Co. Controls tho entire eloctrlc light and powor and
central heating business, and owns and operates the streot railway system
In St. Joseph, M o., and an Interurban lino between St. Joseph and Savan
nah, M o. Principal railway franchises are perpetual; others oxplro from
1936 to 1958. Franchise for electric service Is perpetual.
During 1912 a contract was made with the Kansas City Olay County A
8t. Joseph Ry. (see under "Kansas C ity "), under which that company's
cars from Kansas City are operated over the tracks of this company.
New Mortgage.— In Oct. 1910 the M o. P. 8. Comm. auth. the company
to create a new Issue of 1st A ref. M . sinking fund 5% 30-year bonds, and
to execute, with the St. Joseph A Savannah Interurban R y., a Joint mort
gage to securo the bonds. $751,000 of the new bonds havo been Issued, of
which $326,000 to replace a like amount of St. Jos. A Sav. Int. Ry. 5s
(paid o ff April 1 1917 at 102)4 and Int.) and tho remainder for extensions
and additions.
Rate Increase.— In June 1918 was auth. by tho M o. P. S. Comm, to in
crease lighting rates to 9 mills per k. w. h., effecting an Increase of $8,000
monthly in revenue. V. 106, p. 2650,
8TOOK AND BONDS—
Date. Interest. Outstanding.
Maturity.
Com stock $3,500,000 ($100).............
Q-M
$3,500,000
See text
Pref stock 5% cumulative! ___
5 Q-M
1.500,000 Juno’ 18. I X
$2,500,000 ($100)...............
5 g M -N
5,000.000 Nov 1 1937
First mtge $5,000,000 gold 1902
($1.000).................. c * .c p t Interest at Rodmond A Co.. Now York.
1st A ref mtgo ($15,000,000) 1916
5 g J-J
751.000 July 1 1946
gold ($1,000)...............c*.tf Interest payable In Now York.
Bonds.— The 1st A ref. mtgo. bonds are a first Hon on tho lntorurban
line between St. Joseph and Savannah, M o., and a general lien on remaining
property, subject to $5,000,000 let M . 5s, for retirement of which an equal
amount of 1st A ref. 5e Is reserved. Additional bonds may be Issued only
for 85% of cost of add’ns, exts., A c., under conservative roetrlctlons. or Tor
85% or 1st M . bonds rctirod through the supplomontal sinking fund.
Sinking fund, 1% of bonds out, for purchase or red. of bonds of this Issue
at 102)4. or of 1st M . bonds at 105; or, at option of co., 2% for construc
tion, acquisitions, add’ns or impts. While any let M . bonds are out
standing, the co. must pay, as a supplemental sinking fund, an additional
1% of the amount of bonds of that lnsuo outstanding, to be applied as above
sot forth, or may expend In construction 1% of tho amount of tho bonds
outstanding. First A ref. bonds are red. on any Int. date at 102)4 and Int.
Trustees are Bankers Trust C o., N. Y ., and Mississippi Valley Trnst Co.
St. Louis. Legal Investment for Maine savings banks. V. 103. p.1302*
S ept., 1918.)
ELECTRIC RAILWAYS
Trustees for the 1st M . bonds are Equitable Trust C o.. N . Y ., and Missouri
Valley Trust C o., St. Joseph. Bonds cannot be callod. V. 75, p. 1032.
The 1st M . bonds are listed on the New York, Phila. and Louisville stock
exchanges.
Dividends.— 5% per ann. has been regularly paid on pref. stock since Oct.
1902. First div. on com. stock paid Dec. 1908, 1%; In 1909, 2% ; 1910, 2% :
in 1911, 2% . In 1912, Mar., >$%;June, y ,% \ Sept.. *^ % ;D ec.. A % - A
dividend at the rate of 2% per ann. was paid Feb. 1 1913 for the 2 months
succeeding the regular payment in Dec. 1912: dividends have been paid
quarterly since to Juno 1918.
LATEST EARNINGS.— For 12 months ending Dec. 31:
Gross
K ip . A
Net
12 Months—
Earnings.
Taxes.
Earnings. Charges. Balance.
....................$1,520,720 $980,238 $534,482 $287,550 $246,932
1917
1910 - - - - - - - - - - - - - 1,374 449# 780,395
594,054
287,550
300,50-1
PROPER l Y.— 48.7 miles of city lines on single track b-asls; 90 motor
and 36 trail cars;aq interurban line between St. Joseph and Savannah. M o.,
11H miles long. Generating plant capacity, 7,600 k. w.; 843 miles of
primary and distributing lines.
OFFICERS. -P res.. F. VV. Frueauff. N. Y. City; V.-P. \ Gen. M gr..
J. II. Van Brunt, St. Joseph; Acting Sec., J. R. Abercrombie, St. Joseph:
Acting Treas., Eugene Cooper.
Transfer Agents o f Stock.— E. W. Clark & C o., Philadelphia, Pa.— V. 103.
p. 845, 939, 1302, 1593; V. 106, p. 602, 1689, 2650.
( 8 ) T oledo T raction, Light & Power Co.
Cities Service Co. has acquired over 94% o f the outstanding common and
96% o f the preferred stock. V. 103, p. 1119.
ORGANIZATION.— Incorp. in Maine on Jan. 31 1913 to acquire the
stock and bonds of the Toledo Rys. & Lt. Co. In connection with the re
organization or that company per plan In V. 95. p. 1040: V. 90, p. 301,
In June 1910 minority shareholders were given further opportunity for a
limited time to exchange stock on original basis. V. 102, p. 2344. Over
94% of the stock has been acquired.
The Toledo Rys. & Light Co. approximates 117 miles of street railways in
Toledo: also doos electric lighting and power, artificial gas and a hot water
boating business in the city and suburbs. Tho subsidiary traction com
panies own about 121 miles of intorurban linos. The Toledo Trac., Light
& Power Co. owns entire $500,000 outstanding capital stock and $500,000
cons, mortgage 4)4% bonds of Maumeo Valley Railways S Light Co.;
c
$450,000 first mortgage 5% bonds and all o f tho $500,000 capital stock of
tho Toledo Ottawa Beach & Northern Ry.; all tho $2,000,000 stock of the
Toledo & Western Ry.; all tho bonds and capital stock ($3,200,000 each)
of tho Acme Power C o., which has constructed a now power station at
Toledo; entire $10,000 stock of tho Ottawa Park St. Ity., which owns a
short lino running to Ottawa Park, and ontiro stock of the Adrian St. Ry.
(4 miles), operating in Adrian, Mich.
Trustee Appointed for Betterment Fund.— On April 10 1910 tho Federal
Court at Toledo appointed Oapt. John Craig trustee for a betterment fund
for the property. 6 % of tho gross weekly Income of the street railway lines
Is to be paid into tho fund and used exclusively for unusual betterments
anil for purchase of new equipment. V. 102, p. 1437. (Compare V. 102,
p. 1347.)
Franchises.— At an election held N or. 2 1915 the citizens of Toledo de
feated the proposal to grant the company a new franchise for 25 years.
V. 101. p. 1554. All the principal stroet railway franchises have expired
and cars are being operated without franchise. Electric light and power
and gas and heating franchises unlimited In time. Interurban roads
mostly on private right-of-way: elsewhore franchises aro satisfactory and
all but three extend until at least 1929.
Community Ownership Plan.— In Oct. 1917 tho Stroet Railway Comm,
and the company agreed upon a plan, which provides for the organization
of a new company, with a new 25-year franchise, to be called tho Community
Traction C o., to which the street railway property (exclusive of the power
plant and electric distributing system) would bo transferred. See V. 105,
p. 1803; V. 106, p. 716.
Fares.— On March 30 1914 Judge Killits denied the application to
enjoin tho enforcement of tho ordinance providing for 3-cont faros, largely
on the ground that tho matter was one for tho State courts. V. 98, p.
1073. On Aug. 14 1914 Judge Killits, on tho further hearing of the
application of tho company, ordered tho city to prove that the terms of
tho ordinance were reasonable. On Sept. 12 1914 Judge Killits held that
the ordinance was unfair andconfiscatory and granted a temporary injunc
tion restraining Its enforcement. A temporary faro schedule was put Into
operation Sept. 15 1914 providing for a 3-cent fare from 5:30 to 7:30 a. m.
and 4:30 to 6:30 p. m., with six tickots for a quarter other hours (V. 99, p.
818), but tho 3-cent faros were abolished In April 1916 after advance in
wagos following tho striko. Effective May 9 1918 tho company instituted
a straight 5-cent faro (children under 8 , 1 cent), with a 1-cent charge for
transfers. V. 106, p. 2124. Tho incroaso followed an increase of 6 cents
per hour in carmen's wages. On Aug. 2 1918 Judge Killits in tho U. S.
Dist. Court at Toledo refused tho petition of tho city of Toledo for a per
manent injunction to prevent tho company from increasing its rate of faro.
V. 107, p. 803. The city has appealed from tho decision. In Aug. 1918
tho Toledo & Western Elec. Ry. was auth. by tho Ohio I*. U. Comm, to
incroaso faros from 2 to 2 A cents per mile. V. 107, p. 605. '
On May 22 1913 the Ohio P. 8 . Comm, set aside the action or the City
Council, which (on Jan. 29 1912) granted the company a new franchise for
6 years, but made tho flat rate of 70c. per 1,000 cu. ft. for artificial gas for
both Illuminating and fuel. Tho Commission allowed the old rate of 90c.
for gas for Illuminating purposes. V. 90, p. 163.
An increase averaging about 37H % in heating rates, effective Sept. 5
1917, was approved by the Ohio P. U. Commission.
In Jan. 1918 issued $10,500,000 1st lien 7% 2-yoar gold bonds to retire
maturing indebtedness, and to jirovido in part for additions and extensions.
V. 106, p. 297.
m
In Feb. 1918 issued $1,200,000 second lion 7% 3-year conv.gold bonds
to finance certain iraturing bonds and additions. V. 106, p. 608.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity•
Common 89.200.000 (5100).......................................$9,069,016
.............
Pref $8 ,0 0 0 ,0 0 0 ($100) 6 % c u m -----See text
7,801.675
...............
1st lien $13,000,000 ($1,000) ( 1918 7 g J-J
10,500.000 Jan. 11920
c * g tflint, in N. Y. N. Y . Tr. C o., N. Y., trustee.
2d lien conv $1,200,000 ($100,1 1918
7 g J-J
1,200,000 Jan 1 1921
$500 and $1,000)--C*g.tf\lnt. in N . Y . Bankers Tr. C o .,N .Y .,trustee.
Toledo Gas Elec S Heat O of 1905 5 A-O
c
2,013.000 Oct 1 1935
mtge $2,500,000 ($1,000. Interest at Ohio Savings Bank S Trust C o..
c
$500 and $100) not red___ I Toledo, Trustee.
Toledo Gas Light S Coke C o / 1898
c
5 M-N
150,000
See text
$150,000 ($1,000) guaran-{Int. at Second Nat. Bank, T o l.iO .F . Adams.
teed prln and lnt_________ l care Socond Nat. Bank, Toledo Trustee.
Tol Heat S Ltg Co $500,000f 1901 5 J-J
c
330.000 Jan 1 1921
($1,000) guar prln & lnt— lin t, at Socur. Sar. S Tr. C o., T ol., Trustee.
c
Toledo S Maumee 1st mtge/ 1895
c
5 g M-S
300.000 Mar 1 1920
$300,000 ------------------------lin t, at Metropolitan Tr. C o., N. Y ., trustee.
T & W
lst mtge $1,250.- 1901
5 g J-J
1,250,000 July 1 1926
000 gold ($1,000) no s f and] lnt. at Cleveland Tr. C o.. Cleveland, Tru*cannot be callod--------------- 1 tee, or at Nat. Bank of Commerce, N. Y.
To} Fay & W lst M $250,-f 1902
5 g J-J
250,000 July 1 1927
000 gold ($1,000)...........c*{ln t. at Cleveland Tr. C o., Cleveland, TrusI tee. or at Nat. Bank of Commerce. N. Y.
Car tr. ctfs. S real cst. m tge....................................
c
281,000 ...................
STOCK.— All of tho common stock is held in a voting trust and the
company has contracted with II. L. Doherty & Co. for the supervision of
the operation of its subsidiary properties.
BONDS.— Remaining first lien bonds aro reserve for improvements, &c.,
at 75% of cost and under certain conditions. Tho bonds are secured by
deposit of the following securities: $5,999,000 o f tho $6,000,000 5% consols,
or the lo l. Trac. Co.; $5,997,000 of tho $6,000,000 4% consol, lst M .
bonds o f the Tol. Rys. S Lt.; $108,000 Toledo Gas, Elec. & iltg. Co. bonds;
c
$450,000 Toledo Ottawa Beach S Nor. Ry. bonds; $500,000 Toledo &
c
WMtern R R . bonds: $75,000 Adrian St. Ry. Co. bonds; over 94% of tho
$13,875,000 cap. stock of the Tol. Rys. & Lt.; all tho stock and bonds
($3,200,000 each) of tho Acme Power Co.; all tho cap. stock (oxcopt direc
tors' shares) of the Toledo Sc Western R R ., Maumee Valloy Rys. S Lt.,
c
Toledo Ottawa Beach & Northern Ry. and the Adrian St. Ry. Rod. on
4 weeks’ notice at 101 and lnt. prior to Jan. 1 1919 and at 10013 and lnt.
thereafter, lh o co. assumes tho normal Federal income tax up to 4% ,
Pennsylvania 4 mills tax refunded. The trust indenture will provide that
If tho Tot. Rys. S Lt. Co., for the purpose of accepting a now street railway
c
franchise from the city of Toledo, shall deslro to effoct tho release of the
strictly street railway property from the lion creatod by said indenture, such
release may bo effected upon payment to tho trustee, for tho redemption of
outstanding bonds of this issue, of cash to an amount equal to 40% (but not
lass than $4,000,000) of whatever valuation is fixed upon such property
In connection with tho new franchise, see V. 106, p. 297.
87
The 2d lien bonds are secured (subject to tho lst lien bonds) by all the
collateral pledged under the lst liens bonds (see above). Bonds are con
vertible, at option of holder, into $85 par value of pref. stock and $15 par
value of com. stock of CItios Service Co. for each $100 of bonds (with int.
adjustment) from July 1 1920 to Dec. 1 1920, incl. Red. on 4 weeks' notice
at 101 and int. prior to Jan. 1 1919: 100A and int. prior to Jan. 1 1920;
and 100 and int. thereafter. If callod for redemption, conversion privilege
may be exercised after notice by advt. Penn. 4 mills tax refunded.
V. 106, p. 608.
The Toledo Gas, Electric & Heating Co. bonds are guaranteed by endorse
ment by the Toledo Rys. & Lt. Co. They are not subject to call. The Tol.
Gas Lt. S Coke Co. and Toledo Heating & Lt. Co. are guar., prin. & int.,
c
by the Tol. Lt. & Rys. Co. Former issue was extended to July 1 1909,
then to Jan. 1 1912, at which time the holders decided to allow them
to run to no definite date at 5% . Of the Maumee Valley Ry. & Lt. 4>3s,
$300,000 are reserved to retire the first 5s of the Toledo & Maumee Ry. No
s. I. on the 4H s, but they can he ca'led at par on 30 days' notice, lnt.
payable at Kean, Taylor S C o.’s office. N. Y . Tol. Fay. S W. bonds have
c
c
no s. f . , but are subject to call at par and accrued int. Are guaranteed
both as to principal and interest by the Toledo & Western Ry.
EARNINGS.— Of the Toledo Rys. & Light Co. and allied roads:
Year end. — Years end. Dec. 31—
Nov. 30 ’ 17.
1916.
1915.
Gross earnings______________________ $6,175,332 $5,653,013 $4,833,765
1,844,623
1,639,239
Net, after taxes...................................- . 1,845,196
ROAD, &c.— Street railway lines in Toledo, 11743 miles of track; inter
urban lines owned by subsidiary companies, 121 miles of track; also 4
miles in Adrian. Generating capacity, 64,380 k. w.
A new centra
generating station was completed in Mar. 1918 with an initial capacity of
20,000 k.w. and will have an ultimate capacity of 200,000 k.w.— V. 106,
p. 191, 297; V. 106. p. 397, 500, 608, 1345.
G E N E R A L G A S & E L E C T R IC C O .— See “ R y. & Indus.” Section.
N EW B U R G H , N. Y.
ORANOE COUNTY TRACTION CO.
ORGANIZATION.—Organized Oct. 16 1901 and acquired the Newburgh
Electric Ry. Co.', sold under foreclosure. The Newburgh Electric lst
mortgage bondholders and the Walden S Orange Lake RR. and the New
c
burgh A Orange Lake RR. agreed to a reduction In their Interest from 0%
to 6% . S eeV . 73. p. 138.
Fare Increase.— In Dec. 1917 tho P. S. C om m . auth. the co. to increase
fares in Newburgh from 5c. to 6c.
STOCK AND BONDS— Dale.
Interest. Outstanding.
Maturity.
Stock $160,000 ($25).................................................
$150,000 ...................
Pf $ 175.000 0 % n-cum ($25).....................................
175.000 ...................
FIret and refunding mortgage/ 1910
5 J-J
204.000 July 1 1960
$750,000 ______________ tflUnlon Trust Co.. Albany, trustee.
Newb Elec lst M ($250,000)-/ 1894
6 g M-N
250.000 May 1 1944
gold ($500) not rod____ tfllnt. at Columbia Tr. Co., Trus.. N .Y . City.
Walden tc Orange Lake first] 1895
5 g J-D
100.000 June 1 1945
mtge gold guar p Sc 1___ tfllnt. at Hamilton Trust Co., Brooklyn.
Newb Sc Orange Lake lst M] 1894
5 g J-J
76,000 July 1 1944
g ($500) p Sc 1 guar-_c*tflint, at Columbia Tr. Co., Trus., N .Y . City.
Bonds.— $425,000 lst Sc ref. bonds are reserved to retire prior llene and
remainder for improvements, &c. V . 90, p. 1425; V . 92, p. 1566. Int. on
all above bonds Is also payablo at Quassaick N at. B ank, Newburgh, N . Y .
E A R N IN G S . — For year end. D ec. 31 1917, gross, $194,374: not, after
taxes, $51,398. In 1916, gross, $178,829; net, after taxes, $49,648.
ROAD.—Owns 20.606 miles of track; 45 passenger and 10 other cars.
OFFICERS.— Pres., B. B. Odell: V.-P., A. L. J. Miller; Treas., H. B.
Odell; Sec., W. G. Taggart; Gen. Mgr., Frederick S. Berry.— V. 83. p. 688:
V. 90. p. 1425: V. 92. p. 1560; V. 100. p. 1511.
NEWPORT, R. I.
N E W P O R T & P R O V ID E N C E R Y . CO.
ORGANIZATION.— Incorporated In 1892.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Common $300,000 ($100).........................................
$300,000 ...................
Pref $150,000 ($100) non-cum
.......................
150.000 ...................
lst mtge $300,000 ($500)___ / 1912
5 g J-J
300.000 July 11932
subject to call at par.c c p tlln t. at Augusta (M e.) Trust C o., trustee.
EARNINGS.— For years ending June 30 and Dec. 31 1917:
Y e a r e n d in g —
G ross.
N e t.
In t. A
T axes.
D e p r e c ’n .
B a l., S u r.
$51,201
$18,467
$19,035
$13,699
Dec. 31 1917____ $132,530
June 30 1917____ 96,885
34,091
17,546
1,200
15.345
21,894
17.292
1,200
3.402
Juno 30 1916____ 86.228
ROAD.— Operates about 154£ miles of track from Newport to Bristol
Ferry, where connection Is made by ferry to Providence: 70 and 90-lb. T
and girder rail. 12 cars.
OFFICERS.— Pres., Edward A. Brown, Newport; Sec.. Ciark Burdick;
Treas., Geo. E. Macomber. Augusta. Me.: Supt.. Geo. M . Towle, Newport.
— V. 95. p. 1 4 0 3 . ________ __
NEWTOWN, PA.
P E N N S Y L V A N IA -N E W
JERSEY
R AILW AY
CO.
Controlled by the Bucks County Syndicate.
ORGANIZATION.— This was formerly the Bucks County Interurban
R y., but corporate title changed under date of May 15 1917 to Pennsyl
vania-New Jersey Ry. Co. The Bucks County Interurban was Incorpor
ated May 13 1913 in Penna. as a consolidation of the Bucks County Electric
R y., Trenton New Hope & Lambertville St. R y., Yardley Morriaville &
Trenton St. Ry. and Newtown & Yardley St. Ry. V. 96, p. 1555.
A c q u i s i t i o n s . — On May 15 1917 acquired $500,000 of the $1,000,000
of the N. J. Sc Pennsyiv. Trac. Co. (which see under “ Trenton, N. J ."),
tho remaining $500,000 being canceled, and the stock of the Trenton City
Bridge Co., and the Pennsylvania New Jersey Pow. Sc Lt. Co. (now
Bucks County Electric C o.), all controlled by tho Bucks County Syndicate.
F a r e s . — Effective Mar. 25 1918 was auth. by tho P. S. Comm, of Penn
sylvania to increase fares from 5 to 6 cents.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $500,000 ($50).......................................
$497,400 ...................
Pref 6 % cum $500,000 ($50)_______
6%
500,000 ...................
lst M .& C oll Trust g $3,000,-1 1917
5 g F-A
1,250,000 Feb 11942
000($500A$l,000)redl02H /ln t. at Northern Trust Co.. Phila., fisc. agts.
EARNINGS.— For 12 mos. end. Doc. 31 1917, gross, $229,820; net (after
taxes), $51,279. In 1916. gross, $218,950: net (after $3,907 taxes), $58.2565
ROAD.— Operates 48.30 miles extending from Trenton City Bridge In
Morrlsvllle through Yardley, Pa., to New Hope. Pa., and Lambertville,
N. J., from Yardley to Newtown; also from Bristol to Doylestown via
Newtown. Leasee .2 mile* In Doylestown and has trackage rights over
Trenton City bridge and tracks of New Jersey Sc Penna. Traction In Trenton
to Terminal at Warren and Hanover. Gauge, 5 ft. 2 ^ Inches.
OFFICERS.— Pres., Sydney L. Wright; V.-P. Sc Gen. Mgr.. Gaylord
Thompson; Sec. Sc Treas., Walter T . Bilyeu. Phila. office, 133 S. 5th St.
NIAGARA FALLS, N. Y.
NIAQARA G O RG E
RY.
ORGANIZATION.— Incorporated In New York June 3 1899 as successor
Co the Niagara Falls S Lewiston, sold at receiver’s sale May 23 1899. Ex
c
tends from Onondaga St., Lewiston, along the bank of the Niagara River
to the City of Niagara Falls. Was formally opened July 1 1899. Also con
trol* the franchises of the Buttery Whirlpool Rapids Co., the Niagara
Rapids View Co. and the Niagara Whirlpool Rapids Elevator Co. Has
agreement with the Niagara Falls Park S River Ry. Co. allowing cars of the
c
Gorge road to run over that company’s lines across the arch and Suspension
bridges to Table Rock and Dufferin’s Island. Leases the Lewiston
S Youngstown Frontier RR. and owns all of Its stocks and bonds.
c
STOCK ANC BONDS—
Date.
Interest. Outstanding. Maturity.
Stock. $ 1 ,0 0 0 ,0 0 0 ($ 1 0 0 ).......................................... $ 1 ,0 0 0 ,0 0 0
...................
First mortgage $1,000,0001 1907
5 g J-D
949,000 June 1 1927
($1,000) gold_________ cJerJInt. at Commonwealth Tr. C o., Buffalo, Tr.
B o n d s . — $51,000 bonds are In treasury.
ROAD.— Owns 15.8 miles of track from Niagara Falls to LewLston and
teases Lewiston S Youngstown Frontier R y., 8-7 miles; total operated,
c
24.6 miles. Also has trackage rights over 1 mile of double track of Inter
national Ry. In Niagara. 53 passenger cars, 17 service cars and 1 snow plow.
EARNINGS.— For fiscal years ending Dec. 31:
C a l. Y e a r —
G ross.
1 9 1 7 .................. $141,715
1916 ................... 187,575
N e t .a f t .T a x . O th .I n c .
$21,992
75,575
$483
81
I n t..K e n t,A c .
$49,342
59.272
B a la n c e .
def.S26.867
sur. 16.384
ELECTRIC RAILWAYS
88
OFFICERS.— Prea., Mrs. Joseph T . Jones; V.-P. & Gen. M gr.. Bert L.
Jones; Sec., Grosvenor L. Corliss; Treas., Kendall B. Hassard, all of Buffalo;
Aud., E. H. Buddonhagen, Niagara Falls. General offices, Niagara Falls
N . Y .— V. 84, p. 8 6 8 .
(1) Lewiston & Y oungstow n Frontier Ry.
ORGANIZATION.— Chartered Aug. 1895. Owns from Lewiston to
Youngstown and Ft. Niagara, 7.5 m.; sidings and switches, 2 m.; total, 7.7 m
Is leased by th Niagara Gorgo R R ., which also owns all of Its
stock and bonds.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock, $150,000 ($100)...............................................
$134,000 ...................
First
mortgage
$150,000/ 1896
6 g J-D
150,000 June 1 1916
($1,000) gold................... c * lln t. at Buffalo L ., T . & S. D . Co.. Buff.,Tr.
NORTHAMPTON, MASS.
NORTHAMPTON STREET RA ILW A Y.— A trolley road
ORGAN IZATION .— Chartered Feb. 26 1873. On Jan. 7 1911 Mass.
R R . Comm. auth. company to Issuo $300,000 additional stock, of which
$200,000 was used to pay off $200,000 bonds that matured June 1 1910.
V. 92, p. 322. On June 24 1913 the Mass. R R . Comm. auth. $150,000
additional stock. V. 96, p. 554.
Fares.— In May 1910 Maas. R R . Comm., having decided In Feb. 1909
that the Increase In the unit o f fare from 5 cents to 6 cents was unreasonable
and excessive (V. 87. p. 1605; V. 8 8 , p. 625). approved an Increase In cash
fares between Northampton and Easthampton to 10 cents and tho discon
tinuance of sale of ticket books between Northampton and Williamsburg.
In July 1918 was auth. by tho Mass. P. S. Comm, to establish additional
zone systems, in lieu of the proposed increase from 5 to 6 cents in tho fare
unit. V. 107, p. 83.
Service at Cost.— In Aug. 1918 tho co. notified tho Mass. P. S. Comm,
that a service-at-cost system would be adopted. V. 107, p. 604.
STOCK, Ac.—
Interest. Outstanding. Dies., &c.
Stock $850,000 (par $100).................
A-O
$850,000 Oct. T 7 .2/4
Loans and bills payable Dec 31 1917_____________
70,000 __________
Dividends.— 1901, 8 %; in 1902, 8 %; In 1903, 8 %; In 1904, 6 %: In 1905.
6 % ; on Dec. 27 1905, 3 /4 % ; In 1906 , 3 /4 % ; In 1907, 7.%; In 1908, 6 %: In
1909. Jan., 2 ^ % : in 1910. Oct.. 2% ; In 1911 and 1912, 5 % . In 1913
5 H % . In 1914 and since, 5% .
ROAD.— Owns 27.490 miles o f track. Including extension to Holyoke
and extension from M t. Tom Junction to Easthampton. Operates 48
passenger cars. 3 snow plows and 94 electric motors.
EARNINGS.— For cal. years 1917 and 1916 and year end. Juno 30 1916:
Year—
Gross.
Net. Int.,Taxes,&c. D ir.(5% )
Stir, or Def.
1917.................$226,740
$48,951
$23,447
$42,500
dof.$16,996
1916................ 229,481
81,608
24,428
42,500
sur. 14,680
1915-16.......... 220,623
71,505
24,497
42,500
sur. 4.508
OFFICERS.— Pres., TI. M . Tyler; Treas., H. J. Campbell; Gon. M gr.
L. D. Pelllssler; Supt., II. M . Aldrich, all of Northampton.— V. 89, p. 42
V. 92, p. 322; V. 96, p. 554, 1840; V. 99, p. 675; V. 107, p. 83, 604.
[Vol . 107
OAKLAND, CAL.
SAN FRANCISCO-OAKLAND TERMINAL RYS.
ORGANIZATION.— Incorp. In California on March 21 1912. Has
consolidated the following (V. 94, p. 912):
Oakland Traction Co.
East Shore & Suburban R y. Co.
San Fran. Oak. & S. J. Cons. Ry.
California Railway.
The San Fran.-Oak. Term. Rys. assumed the total bonded debt of the
merged companies.
The Sacramento Short Line and San Jose Short Line, Incorp. Jan. 21 1911
in California In the Interest of the San Fran.-Oakland Term. Rys. System,
the former with $ 1 0 ,0 0 0 ,0 0 0 stock and the latter with $8 ,0 0 0 ,0 0 0 stock,
have been merged In the San Fran.-Oak. Term. Rys.
Operates the street railway lines of and connects Oakland, Berkley,
Alameda, Richmond, Emeryville, Piedmont, Albany, San Lorenzo, San
Leandro and Hayward. Also connects Oakland, Berkley, Emoryville,
Piedmont and Albany with San Fran, by electric train and ferry service.
Interest Payments.— All July 1915 interest was defaulted, but within six
months’ grace allowed, the company completed tho payment in full of all
tho July 1915 coupons (V. 102, p. 251). The company has boon paying
subsequent coupons as funds become available. V. 106, p. 106, 397, 1462,
1689, 2230.
Default.— In July 1918 tho co. announced Its inability to p ay o ff tho
$1,121,000 Oakland Transit C o. 1st M . 6s, duo July 7 1918. It is stated
that interest payments on this issue will bo continued pending reorganiza
tion . V . 1077 p. 292.
Financial Readjustment.— The committee appointed to consider plans for
financial readjustment In Its report dated May 16 1916 recommended post
poning reorganization until fundamental changes have boon mado In the
nature and terms of tho c o .’s franchises as a guaranty of protection to now
capital. (See city’s partnership plan bolow.) For report in detail, seo V.
102, p. 2343. Committee: F. B. Anderson, George A. Batcheldor, J. F.
Carlston, B. H. Dlbblee, John S. Drum, M . Fleishhackor, VV. W . Garthwaite, Edward J. McCutchen, John D. M cKee, Percy T . Morgan, A. F.
Morrison, G. K. Weeks.
City Partnership Plan.— The electors of Oakland on Nov. 7 1916 voted In
favor of the charter amendment authorizing tho city to go Into partnership
with the co., hi accordance with the ptan or the Oakland Chamber of Com.
merce drawn up with a viow to settling the c o .’s financial and operating diffi
culties. The plan provides; (a) Tho co. to bo granted a resettlement fran
chise of an Indeterminate period on condition that tho city may buy out
the system on 6 mos.’ notice and may transfer such purchase right to a third
party; (6 ) net profits to bo divided botween the city and the co., the city
to get not less than 55% , the company to bo allowod 6 % on Its valuation
ana a proper amount for maintenance, operation, taxes, insurance and
depreciation; (c) operations to be conducted by a Joint board consisting of
two, ono for the city and one for tho company, an arbiter to bo called In In
case of disagreement. The plan also provides that the Mayor appoint
an advisory board of seven to co-operate with tho City Council in drafting
tho franchise ordinance. See V. 103. p. 759. Tho co. has applied to the
City Councils of Oakland, Berkeley and Alameda for a resettlement of the
various street railway franchises owned in these cities under tho terms of the
above plan. V. 104. p. 1389. Committees have boon appointed by tho
Mayors of Alameda, Berkeley and Oakland to negotiate with tho company.
SANDUSKY NORWALK & MANSFIELD ELEC. R Y .— A trolloy road.
Valuation.— After a most exhaustive Investigation, the Cal. R R . Comm,
Receivevship.— On Nov. 15 1912 O. G. Taylor was appointed receiver for
on May 24 1915 handed down Its decision holding tho reproduction cost of
tho company and the controlled Plymouth & Shelby Traction C o., to suc
ceed C. 13. Brooks (Treas. of the company), Geo. B. Duslnberre and Wilbur tho company’s physical proporty as of Juno 30 1914 to bo as follows: Op
Hoyt, who had been appointed receivers on Jan. 4 1912. On July 1 1913 erative property, $20,354,747; non-operative, $6,558,118; total, $26,912,
tho Plymouth & Shelby Tr. Co. was released from tho receivership, but on 865: addiug cash expenditures for capital purposes from Juno 30 1914 to
Nov. 15 1917 was again placed in tho hands of O. G. Taylor as receiver, March 31 1917, $1,461,875, making tho reproduction cost as of March 31
because of question as to ownership. It has outstanding $200,000 stock 1917, $28,374,740.
and $2 0 0 ,0 0 0 bonds.
Foreclosure Suits.— Tho Anglo-oallfornla Trust g o . of San Fran., as mort
ORGAN IZATION .— Private right of way except In cities, where fran gage trustee, has brought suit against tho United Properties C o., Dennis
chises run 25 years from 1904.
Searies and stockholders of tho Oakland Rys. for recovery on tho $2,500,000
Fare Increase.— In July 1918 was auth. to Increase tho mileago charge note issuo of tho Oakland Rys. (see tablo bolow) In order to protect the
effective Aug. 1 1918. V. 107, p. 402.
noteholders In tho event that the proposed reorganization of tho San FranSTOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. clsco-Oakland Terminal Rys. Is not carried through. V. 101, p. 615. The
Trust Co. has also begun legal proceedings to presorve or enforce tho rights
Common $360,000__________ _____
_______
$360,000 __________
of the holders of the $1,100,000 6 % Oakland Terminal Co. notes. V. 105,
Prof, $240,000 non-cum___________
_______
240,000 __________
First mortgage, $600,000,1 1904
5 J-D
600.000 Juno 1 1924 p. 820.
gold_____________________ / Int.atSecurltySav.Bk.&Tr.Co..Toledo.Trus.
Fare Increase.— In June 1918. was auth. by tho Cal. RR. Comm, to in*
Bends.— Redeemable on any Int. day on 90 days’ notice at 110 and Int. croaso ferry and electric fares by 10%. V. 106, p. 2758; comparo V. 105’
Sinking fund $5,000 per annum June 1 1909 to 1913 inclusive; 1914 to 1918. p. 1618. On Aug. 14 1918 was auth. by tho Cal. RR. Comm, to increase
Inclusive. $10,000; 1919 to 1923. Inclusive, $20,000.
faros from 5 to 6 cents. In connection with this decision tho Commission
EARN ING S.— For Year ending Dec. 31 1917, gross, $54,568; not, $7,822; granted tho co. auth. to spend $1,181,979 for Impts. V. 107, p. 907.
taxes and interest on receiver’s certifs., $4,254; balance, $3,569. In 1916,
STOCK—
gross, $52,096; net, $8,319; taxes and int. on receiver’s certifs., $4,302; Common ($100)____________________________ - Dio. IPeriod. Outstanding.
---- _______ $15,125,000
balance, $4,017.
Class
12.050,000
ROAD.— Operates 30 miles of track from Norwalk through towns of Class A preL ($100) 6 % c u m ............................. Q.-M . 21
B pref. ($ 100)...............- ....................................................
1,000,000
North Fairfield, Steuben, New Haven and Plymouth, to Shelby, where
BONDS—
Date.
Interest. Outstanding. Maturity.
connection la made with the suburban lines o f Mansfield; also a 2/4-mlle
San Fran.-Oak. Term. Rys.—
extension to Willard, Ohio. Standard gauge, 70-lb. T rail.
Equip notes ($1,000)________ 1916
6 M -N
$96,000
See text
OFFICERS.— Receiver, C. G. Taylor.— V. 94, p. 69; V. 107, p. 402.
Oakland Traction Co.—
Oakland Trac Co gen con) 1907
5 g J-J18
3,177,000 Jan 18 1935
mtge, g, $ 1 2 ,0 0 0 ,0 0 0 , sink-) Union Tr. C o., San Fran., Trustee.
lng fund ($ 1 ,0 0 0 ) _______ c*
THE SHORE LINE ELECTRIC RY. CO. (C on n ecticu t).
5 g J-J
2.134,000 Jan 2 1933
ORGANIZATION.— A merger, effectlvo N ov. 1 1916. o f the Shore Line General consolidated mtge, 1905
Union Tr. C o.. San Fr., Trustee.
Oakland Trac Consol, $7.
Electric R y., Norwich & Westerly Traction C o., Groton & Stonington
0 0 0 ,0 0 0 , gold ($ 1 ,0 0 0 ) - . . cl
Street R y., Ashaway & Westerly Ry. and the New London & East Lyme
6 J-J
95,000 8 ee text
Street Ry. (See this Section for Sept. 1916 for separato statements of thoso Oakland Trac equip $250,000/ 1911
(sec by 60 P-A-Y-E c a r s )..lin t, at 1st Fed.Tr.Oo.,SanFr.,trus., or N .Y .
companies.) V. 103, p. 494. 103£L Loases for 99 years from 1913 that
5 g J-J
1,202,000 July 1 1932
portion ofthe Connecticut Co. known as the New London Division, 104 miles. 1st mtge (see text) Oakland! 1902
Transitconsg,sf($l,000)c*lUnIon Trust C o., San Francisco, Trustee.
An Act of the Conn. Legislature, approved M ay 16 1917, authorized the
1,695,000 July 11931
company to increase its capital stock to not exceeding $8 ,0 0 0 ,0 0 0 and to 1st con s f M Oak T ra n ,$3,- 1901 5 g J-J
000,000 ($1,000), g .........c*\Mercantile Trust C o., San Fran., Trustoe.
exchange such stock par for par for its notes or its A and B debentures,
1.121,000 July 7 1918
subject to tho approval of tho P. U. Comm. No stock shall be issued at 1st mtge Oakland Transit Co, 1898 6 g J-J
$1,400,000, gold. s. f., not Union Trust C o., San Francisco, Trustee.
less than par. Tne company was also authorized to generate and sell elec
subject to call_________ c*
tricity to any electric light, heat or power company except In the towns of
6 g M-S
250,000 Mar. 1 1922
Windham and Coventry, Conn., and any town where a company is already Oak San Loan & H 1st M l 1892
g, $250,000 ($1.000)...........
In operation except with tho consent of that company; also to acquire stocks,
23a Ave El Ry 1st mortgage, 1893
6 g M-S15
250,000 Mar. 15 ’23
bonds. &c., of any Connecticut electrical company. V. 104, p. 2344.
gold ($1,000). $250.000----Fare Increase.— In Aug. 1918 was auth. by tho I.-S. C. Comm, to in
6 g J-J
18.000 Jan. 1 1923
crease fares between points in Massachusetts and Rhodo Island. V. 107, Alameda Oak & Pled El R y / 1893
first mtge. gold, $350,000-lInt. at
ls-Fargo Nov. N . B ., San Fran.
p. 803.
San Fran Oak
San Jose Cons Ry—
STOCK AND BONDS—
Date.
Interest. Outstanding.
laturity.
5 g M-N19 1,587,000 M ay 19 1938
General consolidated m ort-' 1908
Common / Sec l ($100)_______ _____
_______
$700,000 __________
gage, $7,500,000 ($1,000), Union Trust C o., San Francisco, Trustee.
Preferred (text/ ($100)_______ _____
_______
300,000 __________
Interest at office of co., Oakland, or Wells
gold___________________ c*
First mortgage bonds_________ _____
_________ 2,725,000 __________
Fargo-Nevada Nat. Bank, San Fran.
Groton & Stonington 1st M / 1904
5 g J-J
475,000 July 1 1924
1903
5 g J-J
3,000.000 Jan 2 1933
3,000,000
gold (assumed) ($ l,000 )..clln terest at International Trust C o., Boston.
San Fran O & S J Ry 1st Int. at Wells-Fargo-Nevada Nat. Bank In
Debenture “ A ” bonds________
1,000,000 __________
San Francisco and Nat’l Pk. Bank In
mortgage, $3,000,000 ($1,
Debenture " B " bonds________
2,500,000 __________
N. Y . Union Trust C o.. San Francisco,
0 0 0 ), s r. gold__________ c*
Trustee.
Montville Street Ry 1st m tge^ l900 *” *5 g M -N ^*' 250,000 M ay 1 1920
1906
5 g J-J
1,500,000 Jan 2 1933
$350,000 ($1,000) gold (canj Interest at American Trust C o., Boston,
San Fran O & S J Ry 2d mtge Int. at Wells-Fargo-Nevada Nat. Bank.
.
not be called)_______ c*.tf (
San Francisco, or at company's office.
$1.500,000 g ($1,000) s f.c*
Wore & Conn East 1st M s f gl 1902
4M K J-J
1,992,000 Jan 1 1943
. Union Trust C o., San Francisco, Trustee.
$3,100,000 ($1,000)_ c*tf (Interest at N. Y. Trust C o., Trust.
_
East Shore & Suburban Ry. Co.—
Norwich St Ry first mtge,\ 1893
5 g A-O
350,000 Oct 2 1923 1st mtge $750,000 gold s fl 1905
6 g J-J
653,000 July 1 1940
$350,000 ($1,000). g _ ntf/Interest at American Trust C o., Boston.
_
($ 1 ,0 0 0 ) sub to call llO&int/Int. at More. Tr. C o.. San Fran., Trustee.
Bonds.— Groton & Stonington bonds have no sink, fd ., but are subj. to
Notes of Subsidiary Cos.—
call at any time at 120 and int. Trustee is Treasurer of State of Con
6%
2,500,000
See text
$2,500,
necticut. Of the Worcester & Connecticut Eastern bonds, no more will OakI Rys coll tr notes ............... 1912
000 ($25,000) red at 100 Int. at Anglo-Oallfornla Tr. C o., San Fran.,
be Issued. A sinking fund on those bonds commenced In 1908 of not to
Trustee, or National City Bank, N. Y.
and Int__________________
exceed 1% of bonds outstanding. Bonds cannot be called, but may be
6 F-A
1,100,000
See text
bought on a 3% basis or better, ahd kept alive for sink. fd. See V. 75. Oakland Term coll notes $1, 1912
1 0 0 ,0 0 0 g ($ 1 ,0 0 0 , $ 2 ,0 0 0 . Int. at Anglo-Gallfornia Tr. Co., San Fran.
p. 1204. $168,000 of amount reported outstanding held in sinking fund.
Oallablo at 101 and Interest.
$5,000 & $10,000) gu p * I
Of the Montville Street R y. 1st mortgage gold bonds, tho balance un1tailed can only be issued for 6 6 % of actual certified cost of irapts. or ad
San Francisco-0akland Terminal Rys.— The equip, notes of 1916 are se
ditions to property. Original mortgage of the Montville Street Ry
cured by 32 steel cars costing $234,000. They mature $10,000 s.-a. from
provided that bonds might be called In 1905 at 105, but through a supple May 1 1917 to Nov. 1 1925, incl. Callable at 100 A and Int. on 60 days’
mental mortgage this redemption clause was eliminated, so bonds are not notice.
now subject to call.
Oakland
$12,000,000 bonds of 1907, $6,980,000 are re
EARN ING S.— Foryear end. Dec. 31 1917, gross, $1,473,166; net, after served for Trac. Co.— Of the$1,843,000 are deposited undor the Oakland
prior liens and
taxes, $214,011. In 1916, gross, SI,738,476; net, after taxes, $511,499.
Ry. coll, notes. A sinking fund began In 1907 which provides for the re
ROAD.— Operates 234.58 miles o f road of which 114.76 miles owned,
bonds by
$7,000,000 Oakland
101.67 miles leased and 18.15 miles oporated undor trackage rights. Gauge tirement of about $7,000,000 $4,826,0001932, Of tho to retire
mortgage,
are-reserved
liens,
4 ft. 8 A inches. Entrance to Now Haven over tracks o f Connecticut Co. Trac. consolidated canceled and $20,000 exchanged for Oak Trac.prior issuo.
$20,000 have been
Co.
Private right-of-way except through towns.
A sinking fund began In 1906 which provides for tho retirement of 56,000,000
OFFICERS.— Pres., R. W .Perkins; V.-P., F. doC. Sullivan; Sec. & bonds by July 1 1928. See V. 81, p. 6 6 8 . Tho auth. amount or 1st consol,
Treas., A. E. Sherman; Gon. Mgrs., J. G. Whito M gt. Corp.— V. 97, p. mtge. or 1902 of Oakland Transit Consol, was originally $0,500,000, but
445; V. 99, p. 1750; V. 103, p. 146, 494, 1033, 2344; V. 107, p. 803.
shareholders voted on June 17 1904 to cancel $1,654,000 previously re-
NORWALK, OHIO.
NORWICH, CONN.
Sept., 1918.]
ELECTRIC RAILWAYS
S9
served for extensions and Improvements. V. 78. p. 2385. Of the remain
ROAD.— Total, 117.22 miles in operation. The Sacramento Valley
ing bonds auth. $3,495,000 are reserved for prior liens and $149,000 have Elect. Ry. (11.8 miles, operated as a branch line from Jan. 1 1915) was
been canceled by sink. fd. A sinking fund for these bonds commenced in abandoned Aug. 1 1917.
1903 and ranges from $10,000 to $250,000 per year, which provides for the
OFFICERS.— Pres., Walter Arnsteln; V .-Ps., S. L. Naphtaly and H. O.
retirement at maturity o f $4,000,000 bonds. Bonds not subject to call, but Breeden; Sec., Treas. A Gen. Mgr., H. A. Mitchell.— V. 102, p. 67, 251,
may be purchased for sinking fund in open market. See V. 75, p. 135. Of 1626, 1815, 2235; V. 105. p. 716, 1105; V. 106, p. 822, 1127.
tho $3,000,000 first consols. Oakland Transit, $1,400,000 arc reserved to
retiro underlying liens. $5,000 have been exchanged for Oak. Transit Cons.
A sinkino fund commenced on these bonds in 1912, which provides for the
retirement o f $2 ,0 0 0 ,0 0 0 of the bonds on or before maturity.
CITIZENS’ TRACTION CO .—A trolley road
Both the Oakland San Leandro A Hay. Elec. Ky. and rhe 23d Ave. Elec.
In Mar. 1917 control was purchased by the Municipal Service C o.,
R y. mortgages have sinking fund commencing ten years after date and a Maino nolding corporation, which see under Philadelphia. Pa.
increasing from 2 % yearly (of total bonds outstanding) for tho first five
ORGANIZATION.— Incorporated in Pennsylvania May 23 1902. Owns
years to 8 % for last 5 years. The bonds are not subj. to call before maturltv. and operates the Citizens’ Light A Power Co., the Monarch Park Hotel Co.
Equipment bonds mature $31,000 annually on Jan. 2 from 1912 to 1918, (an amusement park with 60 acres of ground), tho Big Rock Bridge Co.
and the Reno Bridge Co.
inclusive; $33,000 1919. $155,000 have boon retired.
Interest on Oakland Traction Co. and underlying bonds, except where
On Sept. 1 1917 an increase in fare from 5 to 6 cents with special working
otherwise indicated, is payable at Wells Fargo Nev. National Bank, San men's tickots in books of 18 for $ 1 became effective.
Francisco, or National Park Bank, New York.
STOCK AND BONDS— Date.
interest. Outstanding. Maturity.
San Francisco Oakland & San Jose Consolidated fly.— $4,500,000 consol
Common $1,000,000 ($50)......................... ..........
$1,000,000
See text
mortgage bonds are reserved to retire prior liens and $1,413,000 are de- Preferred $1,000,000 ($50).................
Q-J
*1,000.000 July’ 18. 1 >4
------ - ------------- Apr 1 1942
- -----os ited undor the Oakland Ry. coll, notes. A sinking fund on these First mtge $2,500,000 gold 1912
5 A-O
1.392;000-onds began 1915, Installments totaling $4,345,000. A sinkino fund on the
($ 1 ,0 0 0 ) sinking fund.c*tf Pa. Co. for Ins. on L. A G. A.. Phila., Trus.
San Fran. Oakland A San Jose Railway 1st 5s is provided as follows: In 1915 Refunding mortgage $2,500, 1917
6 M -N
222.000 May 1 1942
and 1916. $25,000 each year; in 1917 and 1918. $35,000; in 1919 and 1920
0 0 0 ___________ ______ r.tf Pa. Co. for Ins. on L. A G. A ., Phila., Trus.
---------------------$50,060; in 1921 and 1922, 575,000: in 1923. $90,000; in 1924 and 1925.
* Of tho $1,000,000 outstanding $400,000 are in the treasury.
$100,000: in 1926. $115,000; in 1927 and 1928. $125,000; in 1929. 1930. 1931
Bonds.— 1st M . closed with S I,392,000 outstanding. Red. at 105 and int..
and 1932, $150,000. These bonds cannot be called. See V. 76. p. 655. In whole on or after Apr. 1 1917, or in part for sk. fd. on or after July 1 1918.
Tho following amounts are payable annually to a sinkino fund on the San Sinking fd. of 1% per ann. became operative July 1 1918. An Improve
Francisco Oakland A San Jose Railway 2d mtge. bonds: 1915, $10,000 ment fund of V of 1% per ann. operative on Jan. 1 1923. See V. 94.
x
1916, $15,000; 1917, $20,000; 1918. $25,000; 1919, $30,000; 1920, $35,000; p. 1118, 697. Int. at office of trustee. $1,392,000 Ref. M . bonds reserved
1921, $40,000; 1922, $45,000; 1923 to 1925, inclusive, $50,000: 1926 and to rotire 1st M . Remaining bonds to bo issued for additions and extensions
1927. $60,000; 1928 to 1932, inclusive, $75,000. These bonds are not under guarded restrictions.
subject to call.
Dividends.— First div. on pref.— 2 )4 % — was paid Jan. 2 1913: July,
East Shore A Sub. mtge. la n closed mtge. Sinking Tund, 1 % % yearly on 1913. 2 % . In 1914. Jan.. 2% : July. 2 )4 % . In 1915, Jan.. 3 % : in
all bonds outstanding, expected to retire entire Issue. V. 94. p. 123. April paid a quar. dlv. of 1)4% and same rate quar. since to and incl.
$97,000 In sinking fund Mar. 31 1917.
July 1918. Initial div. on com.. 1%. paid Nov. 1915. In 1916. 1)4% :
Notes.— Tho Oakland Kys. and Oakland Terminal coll, notes roll due in 1917, 1)4% ; in 1918. April, 1%; July. )4% .
Juno 12 1913 and Aug. 20 1913, respectively. Interest at rate of 6 % per
EARNINGS.— For 12 mos. ending June 30 1918 (incl. subsidiaries),
annum is being paid on the notes.
gross, $526,704; net (after taxes), S182.063; fixed charges and deductions,
E A R N IN G S.— For cal. year 1917 and years ending June 30:
$88,204; surplus, $93,859.
Cross
Net (after
Other
Interest,
Balance,
ROAD.— Operates 35.7 miles of track in Oil City, Franklin, Rouseville,
Earninos.
Taxes).
Income. Ac. {net.)
Survlus. Siverly and Reno, and connecting routes on both sides of the Allegheny
Year
------1917___________$4,578,620 $1,264,914 $44,355 -- ---------- 1 ------$1,369,118 def.$59,849 River. 65-lb. and 70-lb. T rail and 85-lb. girder rail. Has 47 passenger
1916-17_______ a l,472,176 --------1,146,445------1,091,125
55,319 cars, 1 express and 5 work cars and 3 snow sweepers. The controlled Citi
1915-16..............*4,417,848 *1,089,771
60,413
1,019,461
130,723 zens’ Light A Power Co. furnishes electric light and power for Oil City.
1,169,357
62,665
1914-15_______ 4.353,891
1,025,583
206,439 Franklin and vicinity.
1.387.936
89.222
1913-14_______ 4,562.113
832.206
644,952
OFFICERS.— Pres., Joseph Seep, Titusville; V .-P ., N . G. Roosevelt;
* Including in 1915-16 direct exposition ferry earnings, gross. $114,553 Sec., John E. ZImmermann: Treas., J. W . Swain Jr.; Asst. Sec., O. A .
net, $49,161. Loss due to Jitney competition In 1915-16 estimated at McCluro; Asst. Treas., C. R. Bitting. Oper. Mgrs., Day A Zimmermann.
$320,000, with no corresponding decrease In operating expenses.
Inc., Philadelphia, Pa.— V. 101, p. 1806: V. 104, p. 1387.
a Including "other incorno” in 1916-17.
ROAD.— Operates 262.40 miles (all tracks) o f electric railways. Has 396
pass. cars. 1 combination car, 3 electric locomotives, 14 freight cars, 5 5
service cars, 3 wrecking cars, 1 pile driver and 5 ferryboats. In 1915 made
OKLAHOMA RAILW AY CO.—
a now contract for power with Consolidated Electric Co. (successor to the
ORGANIZATION.— Incoroorated in Oklahoma on June 15 1904 uuder
United Lt. & Pow. Co.) under more favorable terms.
tho name of Oklahoma City Ry. CP- On Sept. 21.1907 namo changed to
OFFICERS.— Pres., O. O. G. Miller: V .-P., W. R. Albergcr: Sec. & Oklahoma Ry. Co., Increasing charter powers so as to constitute both an
Treas., F. W. Frost; And., B. W. Fernald.— V. 106, p. 1689, 2230, 2451. urban and intorurban road with ail the powers of a steam railroad corpora
2758; V. 107, p. 292, 402, 697, 907.
tion and of a lighting and power co., and increased stock from $ 1 ,0 0 0 ,0 0 0 to
$3,000,000. On Apr. 1 1911 purchased Oklahoma City A Suburban Ry.
OAKLAND ANTIOCH & EASTERN RY.
and on Aug. 1 1911 purchased tne El Reno Interurban R y. and the city lines
Financing.—Jan. 1 1915 Interest was defaulted. In order to meet out and franchises In El Reno. The Oklahoma Ry. also owns the Guthrie City
standing obligations and avoid further assessments on the stock and possible Ry. and the No. Canadian Valley R y. In 1911 Increased stock from $2,000,
foreclosure, a plan for funding coupons maturing in 1915, 1916 and 1917 000 com. and $1,000,000 pref. to $10,000,000 com. and 85.000,000 pref.
was agreed upon substantially as outlined In V. 101, p. 288. The stock About two-thirds of road on private right-of-way (incl. 28 miles of track
holders were called upon for a loan o f $3 per share, the loans being evi within city); Oklahoma City franchise perpetual, subject to right of city
denced by the company’s 6 % promissory notes secured by 1 st M . bonds to purchase property on Jan. 31 1932 or at end of any 15-year period
on the basis of tho bonds being worth 80.
thereafter. El Reno franchise expires 1933: other franchises perpetual.
Foreclosure Suit.— On Nov. 28 1917 foreclosure suit was brought against
The Guthrle-Edmond Electric R y. was incorp. in Dec. 1915 with $500,000
the co. by II. D. Smith and associates, owners o f Oakland & Antioch capital to build the extension from Edmond to Guthrie. 15 miles, placed la
bonds.
operation July 20 1916.
Refinancing Plan.— A plan dated Nov. 1 1917 has been presented
STOCK AND BONDS—
Date.
Interest.
Maturity.
Outstanding.
to the security holders in accordance with tho order o f the UR. Comm, Common $10,000,000 ($100).................................
$3,800,000
made in Nov. 1915 that such a plan be submitted to tho Comm, on or Pref $6 .000.000($100)5% c u m ____
1,795.400 Jan’ 12.1)
before Jan. 1 1918. The plan looks to tho organization o f a new co., to be First and refunding mtge 1908
5 g J -J
347,000____ ______
___ Jan 1 1
____
- Jknown as tho San Francisco Oakland & Sacramento Iiy., to take over and
$3,000,000 ($1,000) gold c* Int. at Safe Dep. A Tr. Co., Pittsb., Trustee.
operate the properties o f the Oakland & Antioch lty., the Oakland Antioch First A ref mtge $12,000,000 1911
5 g J-J
3.653.000 Jan 11941
A Eastern R y. and tho San Ramon Valley R lt. The proposed capitaliza
gold ($ 1 .0 0 0 ) ...................c* Int. at Mississippi Valley Tr. Co., St. Louis.
tion of tho now company is as follows:
Trustee, or Harris Tr. A Sav. Bk.. Chic.
1. Com. stock ($100) non-assessable, all to be Issued under plan.$4,000,000 Junior M g bonds ($1.000).c 1916
6 J-J
470,000
See text
Red at 101)4 and lnterest\Int. at Miss. Vail. Tr. Co.. St. Louis., Tr.
2. Prof, stock $1,500,000 6 % cum .,($100) non-assessable; callable
at any time at 110. T o bo issued for reorg. purposes, not over. 1,330.000
Bonds.— Of the 1st A ref. bonds of 1911, $347,000 are reserved to retire
underlying bonds; remaining bonds can be Issued at not exceeding 80% of
3. 20-yoar 1st M . 5)4% gold bonds, $3,000,000 ($100 to $1,000).
cost or extensions, enlargements and additions under certain restrictions.
Trustee, Union Trust Co. o f San Francisco. To bo issued or
set aside for reorg. purposes, not over---------------------------------- 1,950,000 Subj. to call at 105 and Int. on Jan. 1 1921 or any int. date thereafter.
Remaining bonds will be held in treasury and may be issued only under V. 92, p. 1110. No s. f.. but bonds have a renewal fund of 2% per ann. or
conservative restrictions. Tho above securities are to bo distributed among bonds out. The 1st A ref. mtge. of 1908 is limited under the terms of the
the bondholders o f tho companies and among persons holding bonds in ls f A ref. mtge. of 1911 to $2,600,000, of which $2,153,000 are deposited as
pledge, so that tlioy will receive securities o f a par value equal to the par additional security for 1 st A ref. 5s of 1911 and $347,000 are out. Mtge.
valuo of the securities now held by them upon tho following basis: 2 0 % bonds of 1908 can be called on 90 days’ notice at 110 and Interest. No
bonds, 20% preferred stock and 60% common stock. Common stock re sinking fund. The junior mtge. bonds mature $15,000 s.-a. from Jan. 1
maining in the treasury after distribution to bondholders and holders of 1918 to July 1 1925 and $260,000 on Jan. 1 1926. They aro secured by a
bonds In pledge is to bo divided among unsecured creditors. Tho $170,000 lion on tho entire property subject to $4,000,000 underlying bonds, and also
pref. stock unissued is to bo held in treasury for additions and bottermonts cover the extension from Edmond to Guthrie, subject to a construction
Creditors having first and direct enforceable liens on tho mortgaged lien of $450,000. Exempt from all general taxes In Okl. V. 102, p. 1987.
Dividends.— On pref., 1st div.— 5% —paid Jan. 1909 and 1)4% quar.
property which are approved by tho bondholders aro to bo paid in cash.
Reorganization committee: 8 . Bachman, Fred. II. Beaver, A. Christe- to and Incl. Jan. 1912. None since.
EARNINGS.— For fiscal years ending June 30:
son, C. Osgood Hooker, John Lawson. Jesse W. Lilienthal. Paul A. SinCross
Net (after Other
Interest, Balance, Passengers
sheimer and Sydney M . Van W yck Jr. Depositary, Union Trust Co., June 30
Year—
Earnings. Taxes). Income. D isc't.Ac. Surp.
Carried.
San Francisco. V. 106, p. 190, 822.
$8,373 $296,888 $152,715 15.266,269
ORGAN IZATION .— Incorporated in California in April 1911. Controls 1916-17____$1,049,530 $441,231
846.676 377,094
22,916 261,478 139,343 14.164,922
through stock ownership Oakland & Antioch Ry. (34.12 miles between the 1915-16 -----ROAD, Ac.— Operates about 138 miles of track comprising the street
points named) and San Ramon Valley R R . (11.7 miles between Saranap
and Diablo, Contra Costa County.
railway systems In Guthrie (6.7 m.) and Oklahoma City (60 m.) and the
Assessments.— Tho following assessments were levied on the stocks of the interurban lints? to El Reno (placed in operation Dec. 3 1911), Norman
Oaklaud Antioch A Eastern Ry. and the Oakland A Antioch R y. (of whoso (placed in operation Nov. 15 1913) and Edmond (placed In operation May
85.000 sharos outstanding 34,713 shares aro owned by the O. A. A E. Ry.) 28 1911). The extension to Guthrie was placed in operation July 20 1916.
Aug. 5 1913. $5 and $10 per share, respectively: Jan. 16 1914, $ 4 and $ 8 Standard gauge, 65. 70 and 100-lb. rails. 110 pass, and 32 freight and other
per share: June 1914, $2 and $4 per share, and In Dec. 1914. $1 50 and S3 cars; 2 electric and 1 steam locomotive. Power plant has 8.000 k. w.
capacity. Also owns valuable terminal station in Oklahoma City.
per share. 12,600 shares have been forfeited for non-payment of assessm'ts
The company has made a traffic agreement with the Atchison Topeka A
OFFICERS.— Pres., Anton H. Classen; V.-P. A Gen. M gr., J. W. SharSanta Fe R y. undor which tho latter company reaches Sacramento and tel; Sec. A Asst. Gen. M gr., Chas. Hoopes: Treas., E. J. Richart; Aud., W .
points boyond. V. 98. p. 1070 and 1072.
C. Jones. General offices, Oklahoma City.— V. 102, p. 1987; V. 106,
p. 2229.
___________
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock $10,000,000 ($100).......................................
$8,740,000 .
First mtge $5,000
0,000 gold 1911
5 g A-O
2,600.000 Oct ' l'i9 4 1
($ 1 ,0 0 0 ) sinking fund___ c Int. at Union Trust C o., San Fran., trustee.
WESTERN NEW YORK & PENNSYLVANIA TRACTION CO.
Oak A Ant 1st M $2,000,000 1910
5 g J-J
2 000.000 July 1 1940
ORGANIZATION.— Incorporated in New York and Pennsylvania on
gold ($ 1 ,0 0 0 ) sinking fund. Int. at Anglo-Oallf. Tr. C o., San F r., trustee. Nov. 17 1906 and is a consolidation 01 the Olean Street Ry. and the Rock
Ban Ramon Val 30-yr $250. 1912
6 g M-S
100.000 Mch 1 1942 City RR.; the latter being a reorganlza tlon of the Olean Rock City A Brad
0 0 0 gold ($ 1 ,0 0 0 )
Int. at Union Trust C o., San Fran., trustee. ford Ry.: Bradford St. RR. Co. has also been consolidated. Owns entire
Oonv gold notes...................... 1 9 1 3
317.600 Feb 1 1918 stock of Shinglehouse St. Ry. Operates mostly on private right-of-way.
6%
Stockholders’ lo a n ------------ 1^1918
. ___
...
158.429 Jan 1 1918 Franchises practically perpetual, except In City of Bradford, whore rights
.
. T
Unterest at Union Trust Co.. San Francisco. expire in 1944.
Bonds.— Oak. Ant. A East. 1st M . bonds are subj. to call at 110 and int.
On April 15 1910 up-State Public Serv. Comm, authorized company to
on any int. day. Of the remaining bonds $ 1 .993.000 are pledged as collateral Increase stock from $2 ,0 0 0 ,0 0 0 to $2,600,000 and classify shares as below.
to notes and $507,000 are in tho company’s treasury. Sinking fund Sco V. 90, p. 1103. $.500,000 ref. bonds were exchanged for $500,000 new
began Feb. 1 1918 as follows: 1918-27, Inclusive, $35,000 yearly: 1928 first preferred stock.
37, $75,000 yoarly; 1938-41, $160,000 yearly. Oakland A Antioch
Rates.— In July 1918 applied to the I.-S. C. Comm, for auth. to increase
bonds are callable at_ 110 and interest. Sinkino fund beginning May l passenger and freight rates to conform with steam railroad rates. V. 107,
p. 83.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity
Common $1,000,000 ($ 100).................................
$1,000,000 ...................
are redeemable at par. They are secured by bonds as collateral, and are First pref (6 % cum) $600,0001
convertible Into such bonds on the basis o f tho bonds being worth 85 and
($100)...................................f ____
J-J
600.000 July'17.3%
the notes 96 Vi ■
2d pref (5% non-cum) $1.000-\
EARNINGS.— For years ending Dec. 31:
1 ,0 0 0 .0 0 0 N o dlv’d yet
0 0 0 ($ 1 0 0 ) .......................... ( ............................
Calendar
Cross
Net (after Other Lease
Interest A Balance.
First and ref mtge$5,000.0001 1906
5 g J-J
2,240,000 Jan. 1 1957
Year—
Earnings. lazes). Income. Rentals. Miscel.
Deficit.
gold ($1,000)__ c*.tf) Int. atEquitablo Trust Co., N.
Y ., Trustee.
----------------.
______
. Olean Street Ry first mtge) 1899
1917.............$745,000
5 g M -N
148,000 Nov 1 1929
$822 $106,621 $257,087 $210,231
1916 ............. 620,274 *152,655
$225,000 ($1,000) g -_c*.tf/In t. at Fidelity Trust Co.. Buffalo. Trustee.
1915
606.416
168.691
2,535
112,394 216.272
157.440 Olean St Ry 1st exton mtgef 1901
5 g F-A
98.000 Aug 1 1931
For 10 mos. end. Oct. 31 1917 gross earnings were $611,137: not. after
$130,000 ($1,000) gold( Int. at Fidelity Trust Co.. Buffalo. Trustee,
taxes, $166,063. In 1916, gross, $517,186; not, after taxes, $129,164
(cannot be called)_ c*.tf [.Sinking fund of $2,000 commenced in 1903
_
OIL CITY, PA.
6
OKLAHOMA CITY, OKLA.
OLEAN, N. Y.
Bonds.— Of the $5,000,000 1st S ref. bonds. $252,000 are reserved for
c
prior liens. Additional bonds for extensions and additions at 85% of cost.
Are subject to call at 110 and Interest. See V. 91, p. 1162.
Sinking fund on Olean Street Ry. 1st mtge. of 1899 became operative In
Nov. 1901, $4,000 being paid annually, $77,000 had been paid to Sept. 1
1918. Bonds cannot be called. A sinking fund on the 1st mtge. extension
bonds became operative Aug. 1 1903; $34,000 had been paid Into the fund
Sept.il 1918
In addition, the Shinglehouse R R ., whose stock Is owned, has
$49,000 5% bonds due In 1933, which have a sinking fund of $1,000 yearly.
Dividends.— On 1st pref. 3% semi-ann. from Jan. 1911 to July 1917. lncl
EARN INGS. Gross
Net (after
Other
Interest.
Balance
Year ending— Earns.
Taxes).
Income. Rents, &c. for Dies.
Dec. 31 1917_ $482,601
_
$156,985
$5,641
$133,712
$28,914
Dec. 31 1916--- 468,326
186,744
5.404
133,802
58,346
ROAD.— Operates In Olean and Bradford, and between those points;
and lines from Bradford to Lewis Run from Olean easterly through Ceres,
where a connection Is made (with the Shinglehouse R R .) to Bolivar; from
Olean westerly to Salamanca and thence to Little Valley; from Seneca
Junction, N . Y .. to Olarkdale. Pa. Total about 98 miles o f road. 70-lb.
rails. 58 passenger cars. 30 freight cars. 5 snow plows.
OFFICERS.— Pres., W. R. Page, Olean; V.-P. & Treas., Jos. B. Mayer
New York: Sec.. James P. Quigley, Salamanca: Gen. Mgr.. I W. Miller.
— V. 90, p. 978, 1103; V. 91, p. 1162, 1712; V. 92, p. 732; V. 107, p. 83.
OMAHA, NEB.
OA1AHA & COUNCIL BLUFFS STREET R Y .— A trolley road.
' ORGANIZATION.— Incorporated in Nebraska. Owns lines formerly op
erated by Omaha St.Ry.Co.; leases the Omaha S Council Bluffs Ry.& Bridge
c
Co. In Council Bluffs. la., until 1947. together with its bridge over Missouri
River, rental beiug $60,000 per annum. In addition to all fixed charges.
Litigation.— An amended petition seeking a court decree ordering the
company to turn over to the city its entire street railway property In
Omaha was filed In Jan. 1918 by Corporation Counsel Lambert. A judg
ment for the company’s earnings since Jan. 1917 was also asked.
The
action was based on the provision o f the franchise granted the Omaha
Horse Car Co. (this company’s predecessor), by which Its property was to
revert to the city on Jan. 1 1917. V. 106, p. 86. A ruling has been
handed down by the court which holds that the right o f reversion does not
extend to any part of.the prosent property o f the Omaha & Coun. Bluffs Ry.
Fare Decision.— District Judge Sears on May 12 1914 granted a temporary
Injunction restraining the enforcement of the city ordinance providing for
7 fares for 25c., pending the trial of the suit, on the ground that the rate
would be confiscatory. V. 98. p. 1538.
Fares.— In Sept. 1918 applied for auth. to increase fares from 5 to 7
cents on account o f Increased wages, &c. In connection with this applica
tion an engineer appointed to mako a valuation o f the co ’s property placed
the total value as o f July 1 1918 at $19,755,400. V. 107, p. 1193.
STOCK AN D BONDS—
Date.
Interest. Outstanding.
Maturity.
Common $10,000,000 ($100)................................
$5,000,000 Apr.’1 8 ,l%
Pref 5% cum from Jan 1 19041 ___
5 Q-J
4.000.000 JuIy’ 1 8 ,lH
$5,000,000 ($100)..............(
Fin* cons M $10,000,000 g] 1902 6 g J-J
9.619,000 Jan 1 1928
($1,000) no sink fund.c*.tf f Interest at Guaranty Trust Co.. New York.
Stock and Bonds.— $5,000,000 com. and $1,000,000 pref. stock are set
aside for add’ns S imp’ts. Of the first consols. $381,000 owned and in treas.
c
Dividends.— First dividend on pref. stock. 1M % , was paid April 1 1904.
and same amount quar. to and inch July 1918 On com., 1st dlv 2 % , paid
July 1907. In 1908 to 1911. 4% por ann. In 1912. 1913 and 1914, 5% .
In 1915, 4 )4 % . In 1916 and 1917, 4% . In 1918. Jan., 1%; April, 1%.
R E PO RT.— For calendar years’.
Cal.
Gross
Net (after Other Rentals, Pf.Div.
Common
Bal..
Year. Earnings. Taxes).
Inc. Int.. Ac. (5 % ). Dividends.
Surp.
$
$
$
$
$
$
$
1917— -3,395,161 1,062,857 17,368 638,417 200,000 (4%)199,700 42,108
1 9 1 6 --3,253.327 1,127.140 14.840 631.850 200,000 (4% 1200,000 110,136
ROAD.— Operates 162.53 miles o f track, embracing all the street railway!
In Omaha, N eb., and in Council Bluffs, la ., including the Omaha and
Council Bluffs bridge.
OFFICERS.— Pres., O. W. Wattles; V .-P .. Frank T . Hamilton; 2d V.-P.
S Oen. M gr., W. A. Smith: Sec. & And., W. G. Nicholson: Treas.. A. S.
c
Widenor; Asst. Gon. M gr., R. A. Loussler.— V. 106, p. 2229; V. 107, p.1193.
(1) Omaha & C ouncil B luffs Railway & Bridge.
ORGAN IZATION .— lucorp. in Iowa in 1902. An electric road. Is
leased to the Omaha S Council Bluffs Street Ry. For terms of lease, see
c
statement o f the latter above. Owns entire capital stock of the Omaha
Council Bluffs S Suburban Ry. and the Lake Manawa Sc Manhattan Beach
c
R y. 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
Ry. & Bridge Co. Lake Manawa & Manhattan Beach has no funded dobt.
Franchises run until 1946. On Nov. 6 1911 U. S. Supreme Court iuspended.
pending appeal, the order of the Inter-State Commerco Comm. (V. 89. p
1597), reducing the fare from Council Bluffs to Omaha from 15 to 10 cents.
V. 93, p. 1387. 940. On June 9 1913 the U. S. Supreme Court hold that
the Commission had no authority to make the reduction.— V. 90, p. 1702.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $1,500,000 ($100).....................................$1,500,000 .....................
Pref 4% cum from Feb 1 19071 ____
F-A
1.500.000 In 1918,4%
$1,500,000 ($ 1 0 0 )-...........1
1st consol mtge $2,000,000] 1902
5 J-J
1.902.000 Jan. 11928
($1,000) gold________ c*tf (Interest at Central Trust Co., N. Y ., Trustee
Bonds.— Of the now 1st consolidated mtge. for $2,000,000, $108,000 are
reserved for improvements. V. 89. p. 1234, 1281; V. 94, p. 1119. $600,000
bonds o f the Omaha Council Bluffs S Suburban R y. are deposited as secur
c
ity for the O. S C. B. Ry. Sc Bridge consol. 5s.
c
Dividends.— Dividends have been regularly paid on prof, stock since 1902.
ROAD.— Comprises 33.909 miles or track, including the trackage or the
Omaha Council Bluffs S Suburban Ry. and the Lake Manawa Sc Manhattan
c
Beach Ry., embracing the entire street railways of Council Bluffs. Also
owns bridge between Omaha and Council Bluffs over the Missouri River.
OFFICERS.— Pres.. Geo. S. Wright: V.-P.. G. W. Wattles; Sec .
O. T. Stewart; Treas., J. P. Greenshields.— V. 96, p. 1702; V. 102, p. 1060.
OMAHA & LINCOLN RAILW AY & LIGHT CO.
Controlled by the Illinois Traction Co. (see under Champaign, 111.).
ORGAN IZATION .— Incorporated lu Nebraska lu July 1913 as succeesor to the Nebraska Traction & Power Co. Stock outstanding, com.,
$48,800; pref., $57,500.
„
BONDS—
Date.
Interest. Outstanding.
M aturity:
1st mtge $2,250,000 ($1,000)1 1913
5 g A-O
$250,001) Oct 11938
no sinking fund________ c*\Int. at Central Tr. Co. o f 111..Chic..Trusteo.
Bonds— Subject to call on any Interest date at 105 and Interest.
ROAD.— Operates from South Omaha to Papiyon. 11.5 miles.
OFFICERS.— Pres., W . B. McKinley: V.-P., Chas. Zilly; Sec., E. A.
Macnutt; Treas., Geo. M . Mattls.—-V. 98, p. 913.
OSSINING, N. Y.
HUDSON RIVER & EASTERN TRACTION CO.
ORGAN IZATION .— Incorporated In New York on Feb. 15 1900. On
May 23 1911 Pub. Serv. Comm, granted permission to build an extension
from Ossining through Brlarcllff Manor, Pleasantvllle and Sherman Park
to White Plains, 17 miles. 3 miles in Ossining are In operation. On Dec.
27 1911 Pub. Serv. Comm. auth. $806,000 additional bonds to complete
extension to White Plains (V. 94. p. 68). of which $55,000 have been issued.
On Dec. 12 1917 the P. S. Comm, authorized an Increase in fares from
5 to 7 cents, or 4 tickets for 25c. This decision was canceled by the Court
of Appeals in April 1918. The village of Ossining has amended the village
franchise, granting the company a 6-cent fare.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $400.000......................... - ...........................$84,000 ...................
1st mortgage $1,000,000 gold] 1907
5 g F-A
130.000 Feb 11957
($ 1,00 0)___________ c& rtf\Int. at Equitable Trust C o., N. Y ., Trusteo.
Bonds.— Are subject to call on any int. day at 105 and Int.
EARN INGS.— For year ending Dec. 31 1917. gross, $25,756; net, $2,399;
taxes, $817; deductions, $l0,406?<loflcit, $8,851.
OFFICERS.— Pres., Q. G. Bennett, Ossining; V .-P .. Winfield Post,
Ossining; Sec., Henry D . Swain, Ossining; Treas. S Gen. M gr., W . L.
c
Stratton; Asst. Treas., O. E. H allot^-V . 105, p . 2365.
OTTUMWA, IOWA.
(THE) OTTUMWA RAILW AY & LIGHT CO.
,
„
$630,200 com. and $234,500 pref. are ownod by Standard Gas S EL Co.
c
ORGAN IZATION .— Incorporated In Delaware on Dec. 11 1905 as suc
cessor to the Ottumwa Traction & Light Co. The latter’s franchises for
[Vol. 107.
ELECTRIC RAILWAYS
90
■treet railway, electric lighting and steam-heating plants were extended
by municipal election on July 8 1901 for 25 years. In 1917 secured a
10-year contract for the supply of wholesalo electric powor and light to
Batavia for distribution In various surrounding communities.
Rates.— In 1917 increased electric and steam heating rates with the
auth. of the city officials who later rescinded their action. The higher
rates, however, remain in effect pending final court decision.
In June 1918 issued $200,000 secured notes to reimburse the company
for expenditures for additions and improvements. V. 106, p. 2451. .
STOCK AND BONDS— Date.
interest. Outstanding. Maturity.
Common $650,000 ($100).................
*650.000
See text.
Q-J 15
502,200July’ 18.1H%
Pref $1,250,000 ($100) 7% cu--------1st and ref mtg $1,500,000] 1900
5 g J-J
1.128,000 Jan 1 1924
gold ($1.000)...............__e*\lnt. at Central Trust C o.. Chicago, Trustee.
O ttu m T r& L t 1st M (closed)/ 1901
5 g A-O
262.000 Oct 11921
($1,000) gold sk fd ____ c*l Int. at U. S.M tg. & Tr. C o.. N. Y ., Trustee.
Secured notes $350,000 ($100.1 1918
7 g J-D
200,000 Dec 1 1920
$500 and $1,000) g-_.c*.tf/Illin ois Trust & Sav. Bk., Chic., 111., trustee
General mortgage___________ 1918
6%
See text Dec 1 1920
Stock.— Pref. is cumulative from and after July 1 1909; redeem, at 110
and dlv. on 60 days’ notice. $346,800 pref. stock held In treasury.
Bonds.— Of the 1st & ref. M . for $1,500,000. $270,000 are reserved to
Co. bonds can bo called since Oct. 1 1911 at 105 and int. and each year
thereafter at A % less until par is reached. V. 74, p. 95. S i n k i n g f u n d
on tiieso bonds of $5,000 annually is operative from 1907 to 1910 and $8,000
annually from 1911 to 1921
„ ,
. ,
Notes.— Secured by deposit of $300,000 gen. mtgo. 6% bonds. Addi
tional notes may bo issued, under certain restrictions, upon pledge of
additional gen. mtge. bonds in like ratio. Redeem., all or in part, on 30
clays’ notice, at 101 and int. on or before Dec. 1 1918, at 100M and int.
on or before Dec. 1 1919, and at 100 and int. thereafter. Penn. 4-mills tax
refunded. Interest payable In Chicago and Now York. V. 106, p. 2451.
Dividends.— Initial dlv. on pref.— l?-£%— paid Oct. 1909 and same
amount quarterly since to and Including July 1918. In 1916 paid 7% on
common stock. In 1917. 5% . None since.
EARNINGS.— For years ending Dec. 31:
,
C a le n d a r
Y ear—
G ross.
N e t a fter
T a xes.
I n t. C h a r g e s M is c e l(N e t),
la n e o u s .
D iv id en d s.
B a la n c e .
S u r p lu s .
1917_______ $365,407
$142,989
$67,982
$250
$56,757
$18,000
1916_______ 360,601
166.573
67,888
132 76.993
21,560
ROAD.— Operates 13 miles of trolley road In city of Ottumwa, Iowa.
Weight of rails, 60-lb. T . Standard gauge. 48 cars. Also does municipal
commercial and residence electric-lighting (including 85 miles of polo line
carrying 204 miles of wire); supplies electric power for stationary motors,
&c., and operates a system of steam heating, with 3 milos of mains. Present
generating capacity, 3.050 k. w. A 66,000-volt transmission line from
Ottumwa to Batavia, 14 miles, was completed early in 1918.
OFFICERS.— Pres.. Arthur S. Huey; Sec., R. J. Graf; Treas.. J. J.
O’Brien; M gr., C. E. Fahrnoy; Aud., J. F. Canfield; Gen. Mgrs., II. M .
Byllesby & C o., Chicago, 111.— V. 105, p. 998; V. 106, p. 925, 1598, 2451.
PADUCAH, KY.
PADUCAH TRACTION & LIGHT CO.
r T ,
.
, , ,
D e f a u l t — R e c e i v e r . — In Sept. 1918 Circuit Judge W . M . Reed appointed
Rosco Reed receiver for the co. on application of the Mechanics Trust &
Savings Bank, trusteo for the Peoples Lt., Pow. & R y. Co. 1st Mtgo. 6%
bonds, upon which interest was defaulted. V. 107, p. 1193.
ORGANIZATION.— Incorporated in Maine on Nov. 17 1905 and owns
all tho securities of the Paducan Traction Co. and Paducah Lt. S Power C o .,
c
which companies do entire electric railway, gas and commercial electric
lighting and power business, and also a steam-heating business , In Paducah.
Street railway and electric-lighting franchises expire In 1931 and 1932, re
spectively; gas and steam-heating franchises are perpetual.
STOCK AND BONDS— D a t e .
In ter es t.
O u tsta n d in g .
M a tu rity .
Common $1,000,000 ($100)...............................- — $1,000,000 . . . . . . . . . .
Pref 5% cum $1.000.000($100)-----J-D 1
500 .000 J’n e ’07, 1%
Coll trust mtge $2,000,000] 1905
5 g M -N
599.000 Nov 11935
gold _________
tf Int. at State St. Trust C o ., Boston. Trustee.
6 g J-J
60.500 July 1 1920
Padu St Ry 1st M $100,000 g 1890
sink fd of $1,200 ann___ tf Int. at Fldollty & Col. Tr. Co..LouIsv.,Trus.
6 J-J
98.000 July 1 1923
Paducah St. Ry. mortgage 1893
c
$250 000 g callable at par Int. at Fidelity S Columbia Trust C o.,
Louisville. Trusteo.
and int...................... c*&rtf
6 M -S
98,500 Sept 1 191$
Peop L I» & Ry 1st M $100 1898
000 gold callable In whole' Intorest at Citizens’ Savings Bank, Paducah.
or part at par Jc int___ ntf Mechanics’ Tr. & Sav. Bk., Paducah, Trust.
5 g J-J
238.000 July 1 1932
Paducah City Ry M $1,000 1902
000 g ($500-$! .000) ,c*&rtf Int. at N. Y. Trust C o.. N Y ., Trustee.
Notes payable June 30 1 9 1 8 - - ---------------345,000 -------------- Stock and Bonds.— $100,000 pref. stock In addition to amount reported
outstanding Is held In treasury. Red. at 110. Of the $2,000,000 coll. tr.
bonds. $495 000 are reserv<>d to retire prior lions. $269,000 are In treas.,
$98,000 In sink, fund not canceled and $539,000 for future requirements.
Callable as a whole at 105 and int. at any timo. A sinking fund, if earned,
of 1% por ann. of bonds out commenced Nov. 1 1906 and became obligatory
Nov. 1 1911. Of Paducah St. Ry. bonds of 1890, $39,500 hold by sink,
fd. on Jan. 1 1918. Of Its bonds of 1893, $60,500 reserved to retire 1st M .
bonds due 1920: $2,000 held in sink, fund Jan. 1 1918. Mortgage closed
except for refunding purposes. Of Paducah City Ry. bonds, $87,000 are
held by Paducah Traction Lt. Co.; $65,000 by Paducah Lt. Sc Power Co.
and $257,000 are reserved to rotire underlying bonds, tho inortago is closed
except for refunding purposes; $1,500 Pooplo’s Lt., Pow. & Ry. Co. bonds
were held in sinking fund of Paducah St. Ry. Co. Jan. 1 1918. These
bonds matured Sept. I 1917 but were extended for 1 year.
Dividends.— First dlv. on pref. stock, 1% , was paid Dec. 1 1906, and
1% was paid again on June 1 1907. None slnco.
EARNINGS.— Of combined companies for 12 months ondlng Juno 30:
Year —
Gross.
N et aft. Tax.
Interest.
Sink.Funds.
Balance.
1917-18........ $305,872
$77,735
$76,495
$18,222
def..$10,982
84.199
71,034
16,085
dof. 2,920
1916-17____ 309,893
ROAD.— Embraces 19.3 milos of track; standard gauge. 35 passenger
and 2 other cars. Powor station capacity. 1.830 k. w.
OFFICERS.— Pres.. Frederick P. Boyce; V.-Ps.. Harry T . Edgar and
Dwight P. Robinson. Boston; Sec.. Alvah K. Todd: Treas.. Henry B. Saw
yer; Gen. Mgrs., Stone & Webster Mgt. Assn., Boston.— V. 107, p. 1193.
PARKERSBURG, W. VA.
KANAWHA TRACTION & ELECTRIC CO.
Control.— On July 1 1917 control was acquired by tho Monongahela
Valioy Traction Co. (see under “ Fairmont, W . Va.” ). Under an operating
agreement effective July 1 1917 for 5 years or until terminated by either
party on 6 months’ notice, the Monongahela Valioy Traction Co. manages
all this co.’s properties, takes all rovonuos, guarantees bonds and debts
and renders an account at the close of each year eud. June 30.
ORGANIZATION.— Incorp. In April 1915 and on June 7 1915 absorbed
by consolidation the Parkersburg Mariotta S Interurban R y.. which was
c
incorp. In 1902 In W. Va.. and purchased tho properties of the Parkersburg
Gas, Electric Light S Street R y., Parkersburg Interurban Ry. and Mariotta
c
Electric C o., and on July 1 1911 tho properties of the Muskingum Traction
Co. Franchises perpetual or for long periods. Tho co. guarantees the
mortgage bonds of the Parkersburg & South Side Bridge Co.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Common stock $1.500.000.........................................$1,100,000 . .................
Prefstk $1,500,000 6% c u m . . -----„ Q-J .
1-Q™.500 See text
1st S ref M $5,000,000 gold] 1910
c
5 k F-A
1.700.000 Aug 1 1936
($100, $500 S $l,000).c*tf\lnt. at Fidelity Trust C o.. Baltimore, M d.
c
1st M gold Parkersburg linos.- 1898
5
150,000
1938
Consol mtge all lines________ 1902
5
550.000
1942
Stock.— Preferred stock Is cumulative from July 1 1916.
Bonds.— The First & Refunding bonds are issuable In series as the eompany’s needs require. Tho present series, Serlos “ A ," Is In the authorized
amount of $2,000,000, of which $1,700,000 were Issued In April 1917 to
retire the $1,100,000 2-year 5% notes duo June 15 1917, and $150,000
Marietta Electric Company bonds paid April 1 1917. and for ex
tensions, &c. Provision is also made for refunding other underlying
bonds at or before maturity. Tho bonds aro subject to call Aug. 1 1920 or
any int. date thereafter at 105. Fidelity Trust Co. and Van Lear Black,
of Baltimore aro trusteos. 1st M . bonds on Parkersburg lines are subject
to call.
Dividends.— Divs. of 1M% quar. on pref. stock were begun Oc,. 1 1915
Sep 8 1918.]
\,
ELECTRIC RAILWAYS
EARNINGS.— For years ending Dec. 31:
Cal. Year—
Cross.
Net.
Taxes.
Interest.
Bal.,Sur.
1917________ $609,393
$282,718
$36,974
S120.088
$125,656
1916________ 549,249
260,195
26,919
94,090
138,585
PR O PE R TY.— Has system of street railways in the cities o f Parkers
burg, W. Va., and Marietta. Ohio, and an interurban railway from Parkers
burg, W . Va., to Marietta, and from Marietta through Lowell, Ohio, to
Beverly, Ohio, aggregating 60.84 miles.
Uses bridge o f Ohio River
Bridge & Ferry Co. between Marietta. Ohio, and YVilliamstown, W. V s.,
In which It owns the controlling stock. Supplies all electricity for light and
power in its territory except street lighting in Marietta. In January 1916
completed a new modern electric generating station in Parkersburg with a
total capacity o f 12,500 k. v. a., of which 6,250 k. v. a. is installed, and
owns 2 steam electric stations, 1,600 h. p. and 2,400 h. p ., for reserve and
emergency purposes.
..
OFFICERS.— Pres., Thos. Logan; VAP., J. M . Hartley; Sec., G. M.
Alexander; Treas., O. F. Lough; Asst. Treas., J. N. Tabb.— V. 104, p.
1145, 1702; V. 105, p . 1522._______ _
PASCAGOULA, MISS.
PASCAGOULA STREET RY. & POWER CO.
ORGAN IZATION ,— Incorporated in Mississippi in Jan. 1903. Operates
a street railway, electric light and power plant, water works and ice plant.
STOCK AND BONUS—
Date.
Interest. Outstanding. Maturity.
Stock $500,000 ($ 1 0 0 )...........................................
$500,000 __________
1st mortgage $350,000 gold/ 1904
5 g J-J
350,000 Jan 1 1929
($1.000)________________c lln t . at Columbia Tr. C o.. Loulsv., Trustee.
Bonds.— No sinking fund and bonds are not subject to call.
EARNINGS.— For cal. year 1917, gross, $79,749: net, after taxes,
$13,168. In 1916, gross, $63,114: net. after taxes, $11,614.
ROAD.— Operates 9.7 miles in Pascagoula, Scranton, East Side and
Moss Point. Standard gauge, 50-Ib. rail.
OFFICERS.— Pres., S. S. Bush, Louisville; V .-l\, Attila Cox, Jr.,
Louisville; Sec., J. D . Winston, Treas., Fidelity & Columbia Trust Co.,
Louisville; Supt., L. J. Fohr, Pascagoula.— V. 82, p. 569.
PATCHOGUE, LONG ISLAND, N. Y.
SUFFOLK TRACTION CO.
,
ORGAN IZATION .— Incorp. June 27 1906 in N. Y . Is to construct an
electric road on Long Island about 23 miles in length, extending from Great
South Bay at Patchogue to the Sound at Port Jefferson, and from the town
of islip along the south shore to the village o f Brookhavon, with trackage
rights of about 3 additional miles in the town o f Islip to the village of Say
vllle. One-half road will be owned In fee; remainder will be constructed
on public highways. Franchises perpetual.
The Suffolk Syndicate (see ‘‘Elec. Ity. Sec.” o f Jan. 27 1912), which was
originally to construct road, has been released from Its contract, and road is
to be built and equipped by subscription managers.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $500,000 ($100)................ - . - ................ See text ..............__
First mortgage (see t e x t )..t f/ 1907 5 J-J
See text July 11957
(Long Island Loan & Trust Co., Trustee.
Slock and Bonds.— All the stock and bond issues excepting $60,000 each
of stock and bonds (paid to Suffolk Syndicate) are rosorved to deliver to
subscription managers at $20,000 per mile. The 1st M . was originally
for $1,200,000 auth. bonds, but was subsequently reduced to $500,000.
V . 9 4 ,p.983.
ROAD.— Is to run from Sayville to Patchogue and from Patchogue north
to Port Jefferson. About 8 miles completed and operated In Patchogue
north to L. I. R R . station at Holtsville aud west to and through Sayville.
OFFICERS.— Pres., Thos. L. Hughes; Sec. & Treas., John II. Benning
ton.— V. 87. p. 1239; V. 94. p. 983.
91
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
$360,000
________
Stock $360,000 ($50)........................................ ........
First mtge $130,000 gold 1912
5 g J-J
130,000
1942
($500 & $1,000)---------c*tf i Int. at the E. P. Wilbur Tr.Co.,So.Beth.,Tr.
Second mtge $270,000 gold) 1912
4 g J-J
270.000
1942
($100, $500 & $1,000)-c* tf lint, at E. P. Wilbur Tr.Co.,So.B eth., Trust.
Bonds.— 1st mtge. bonds are callable at 102 on any int. date. 2d mtge.
bonds are subject to call at par on any interest date. Int. on 2d M .
bonds is in default.
EARNINGS.— Year ending Dec. 31 1917, gross, $102,808: net, after
taxes $25,126. In 1916. gross, $90,599: net. after taxes, $23,498.
ROAD.— Operates 18 miles of track from Nazareth to Bangor. 67-lb.
rails. 10 cars. 6 miscellaneous cars.
OFFICERS.— Pres., A. H. McAdams, Phila., V .-P ., Dr. J. O. Keller;
Sec., G. A. Schneobeli; Treas., Thomas J. Ryan; Gen. M gr., J. T . Hamil
ton.— V. 103. p. 2156; V. 104. p. 765.
PENNSGROVE, N. J.
SALEM & PENNSGROVE TRACTION C O ORGANIZATION.— Incorp. in New Jersey Sept. 14 1915. Completed
a lino from Pennsgrove to Salem, N. J., 14 miles long, of which 3H miles
between Pennsgrove and Deep Water Point has been in operation since
Aug. 15 1916, and the whole line to Salem (14 miles) since Jan. 22 1917.
70-lb. T rails; gauge, 4 ft. 8 Vi in. 15 pass, cars, 1 combination snow plow
and work car.
Voting Trust.— The stock has been placed in a voting trust for five years,
under which dividends are restricted to 6% per annum until at least half
of tho 2d mtge. bonds and all of the 1st M . bonds outstanding in excess
of $225,000 have been retired.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $850,000 ($ 1 0 0 ) - - ......................................
$187,500 ___________
1st mtge $750,000 gold ($100,/ 1915
6 g J-D
398.700 Dec 1 1935
$500 and $1,000)____ c*tf llnt.at Pa.Co.for Ins.onLives,&c.,Phila.,trus.
Socond mortgage $100,000/ 1915
6 g J-D
93.000 Dec 1 1935
gold ($1,000) — .........c*tf lint, at Wilmington (Del.) Trust C o., trustee.
Bonds.— Remaining first mtge. bonds are issuable for additional equip
ment, power plant and other property. The mortgages provide that the
company’s net income be applied— 80% to the 1st M . and 20% to the 2d M .
bonds— to tho purchase of bonds at not over par and interest, or to their
call at that price, the bonds to be canceled. This sinking fund, however,
is not to exceed $50,000 in any one year and is to be reduced to 2% of
bonds outstanding when half the 2d M . bonds and all 1st M . bonds out
standing In excess of $225,000 have been retired. The fund became opera
tive July 1 1917. $33,700 1st M . and $7,000 2d M . bonds have been
retired. Both Issues are redeemable, all or part, at par and int. on any int.
date on four weeks’ notice. The 2d M . Donds are all owned by E. I.
du Pont do Nemours & C o
EARNING S.—
Gross
Net, after
Bond
Balance,
Period Covered—
Earnings. Tax..Depr.,&c. Int.
Surplus.
Year ending Dec. 31 1917---$190,536
$57,212
$31,479
$25,733
Aug. 15 to Dec. 31 1916.......... 35.796
9,223
7,515
1,708
$38,150
$15,507
$22,643
6 mos. end. Juno 30 1918____ $108,150
6 mas. end. Juno 30 1917____ 92,085
29,169
15,972
13,197
OFFICERS.— Pres., J. Elliot Newlin: V .-P ., A. F. Porter; Sec. & Treas..
Carl N. Martin.—V. 102, p. 886: V. 104, p. 765.
PENSACOLA, FLA.
PENSACOLA ELECTRIC CO.
ORGANIZATION.— Incorporated in Maine on July 6 1906, and is suc
cessor to the Pensacola Electric Terminal Co. Owns the securities of the
Escambia County Elec. Light & Power Co.
Does all the street railway
and (through the Escambia County Elec. Lt. & Pow. Co.) the entire electric
lighting and power business of Pensacola. Railway franchise expires in
1933; lighting franchise perpetual.
NORTHERN 6 AMBRIA ELECTRIC RY. CO.
The 3-year coup, notes of 1916 were issued to retire $250,000 5-year 6%
ORGAN IZATION .— Organized as successor to the Northern Cambria
conv. notes due Mar. 1 1916 and floating debt.
Street Ry. Co., sold under foreclosure Mar. 31 1918. V. 106, p. 2229.
Fares.— In June 1918 filed with the Ponn. 1’ . S. Comm, proposed fare
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
increases amounting to 3 cents per zone. Provision is also made for com Common$1.050,000 ($ 1 0 0 )............................ ........
$800,000 __________
mutation tickets in books o f 50 for $3 and workingmen’s tickets in books of Pref$500,000 ($100) 6% cum______
J-D 1
300.000
See text
50 for $2.
1st mtge $1,500,000 g o ld ._ tf/ 1906 5 g F-A
834.000 Aug 11931
EARNINGS.— Of old company for cal. year 1916, gross, $52,455; net
lin t, at Old Colony T r. C o., Boston .Trustee.
$14,359: taxes, $473. In 1915, gross, $50,869; net, $15,413.
* Coupon notes $500,000 g old / 1916 6 J-J
500,000 Jan 1 1919
ROAD.— Operates 13 miles between Patton, Barnesboro and Carroll
($100, $500& $1,000)_____lint, at Old Colony Tr. C o., Boston, Trustee.
town. Standard gaugo, 70-lb. T and girder rails.
Stock.— Tho pref. stock Is redeemable at 115.
OFFICERS.— Pres., W. H. Dcnlinger; V.-P., Rembrandt Peale; Sec.Bonds.— $554,000 are reserved for additions and improvements at 80%
Treas., James II. Allport.— V. 106, p. 2229, 2450.
of cost and $26,000 are in treasury. A sinking fund of 1
per annum of
bonds outstanding began Dec. 1 1907: first five payments were waivable,
but became a fixed charge on Dec. 1 1912. Bonds subject to call as a whole
at any time at 105 and int., and in part for sinking fund only. V .8 3 ,p . 156:
PEEKSKILL LIGHTING & RAILROAD.
$86,000 havo boon canceled. Coup, notes are callable as a whole at 100
In 1909 Westchester Lighting C o., controlled by Consol. Gas Co. o f N. Y
and Int. on 30 days’ notice.
purchased the entire common stock and a block o f pref. o f the Peeksklll
Dividends.— First div., of 3 % , was paid on pref. June 1 1907 and 3% was
Lighting & R R . See Westchester Lighting C o.. V. 89, p. 108.
paid Dec. 2 1907. In 1908 June dividend passed because of strike on com
ORGAN IZATION .— Incorporated as tho Peeksklll Lighting Co. on July pany’s lines. Nono to Dec. 1909, when 3% regular and 3% extra on
12 1900; subsequently purchased the Peeksklll Gas Light Co. and Peeksklll account o f accumulations were paid. March 1910 paid another 3% on
Electric Light & Power Co. Name changed as abovo upon purchase of the account of accumulations; June 1910 3% regular and 3% extra, paying up
Peeksklll Traction on Aug. 31 1900. Comprises ail the gas, electric light
all accumulations; Dec., 3% - In 1911. 1912 and 1913, 6% . In 1914.
powor and street railway interests of Peeksklll. Franchises of electric-’ Juno. 3% . None to June 1<916, when 3% was paid. In Dec. 1916 3%
lighting plants and railways are perpetual. Gas franchises liberal.
and 1
extra account of accumulations. In 1917, 6% . In 1918, 3% .
The company on Dec. 21 1917 was auth. by tho P. 8 . Comm, to increase Dividends in arrears, 4 H % .
faros from 5 to 7 cents, with sale of 4 tickets for 25 cents. These rates
EARNING S.— For 12 months ending June 30:
wero canceled by a decision o f the Court of Appeals in April 1918.
Year—
Gross. Net {after Tax.) Interest. Sink.Funds. Surplus.
STOCK ANI) BONDS— Date.
Interest. Outstanding. Maturity
1917-18----------$417,518
$157,929
$82,750
$12,597
$62,581
Common $500,000 ($100)........................................
$500,000
1910, 4 % 1916-17 ----------- 297,414
124,827
80,200
12,807
31,819
Preferred $150,000 6 % cum...
6 J-D
130.500 Dec ‘ 17 3%
ROAD.— Operates 21.4 miles of track; standard gauge; 34 motor and
1st mtge $750,000 ($1,000)/ 1900 5 g A-O
646,000 Oct J 1938 11 trail pass, cars and 8 other cars. Power station has 2,800 k. w. capacity.
gold sinking fund............ c*l Interest at N. Y . Trust Co.. N. Y .. Trustee.
OFFICERS.— Pres., Geo. J. Baldwin. New York; V.-P.. Harry II.
Stock.— $19,500 par value pref. stock lias been reacquired by tho co.
Hunt; Sec., Alvah K. Todd: Treas.. Henry B. Sawyer; Managers, Stone &
Bonds.— Whole issue (but no fractional part) can bo redoemed on any Webster M gt. Assn., Boston, Mass.— V. 104, p. 1899; V. 106. p. 397.
interest date at 110 and interest. Sinking fund is providod at tho rate of
$10.80 per bond outstanding, beginning Oct. 1903. Tho remaining bond*
can only be issued for extousions, &c., at 75% of actual cost, and only when
net earnings o f the previous 12 months are equal to at least twice tho Inter
PEORIA RAILW AY TERMINAL CO.— For statement of this company
est on tho outstanding bonds and the proposod Issue. See V. 71, n 913
see our "Railway and Industrial” Section.
$14,000 are in treasury.
Dividends.— 6 % per annum paid on pref. stock up to Dec. 1 9 1 7 . None
since. On common, in 1906, 1%; in 1907, 3 H % ; in 1908, 4% ; in 1909,
4% ; in 1910, 4% . None since.
.
PETALUMA A- SANTA ROSA RY.
EARNiNGH.— For year ending Doc. 31 1917, gross, from railway only
ORGANIZATION.— Incorporated In California June 20 1903.
$62,389; not (after taxes), from railway, def. $12,175; net from other
Reorganisation Plan.— Under date of Oct. 25 1917 tho committee named
sources, $48,529: non-operating income, $38; total income, $36,392: fixed below Issued tho following plan of reorganization under which all but $5,000
Charges A c., $40,980; deficit, $4,588. „
■ , , „
of tho $655,000 1st M . bonds (or deposit certificates of Merc. Trust Co. of
ROAD.— Owns and operates 10.64 miles o f track In Peeksklll and to Lake San Fran, issuod therefor) and ail the $217,000 2d M. bonds have been de
Mohegan and Verplancic’s Point, with branch to State Damn.
posited with tho First Federal Trust Co. of San Francisco. The plan was
OFFICERS.— Pros., F. A. Stratton, M t. Vernon; V.-P. & Gon. M gr., approved by tho Cal. RII. Comm, in Aug. 1918. Foreclosure sale is ex
Stuart Wilder, Ossining; Sec., Dr. B. W . Stillwell; Treas.. R. a . Carter- pected to take place about the last of September or the firet part o f Oct. ’ 18.
Asst. Treas.. II. D. Swain. Ossining. General office, Peeksklll, N. Y .—
Proposed Capitalization under Reorganization Plan.
V. 106, p. 190.
______
Common Stock ($100) authorized.....................................................-$1,000,000
To be allotted pro rata at par as far as available to holders
PUTNAM & W E S T C H E S T E R T R A C T I O N C O .
of presont $994,100 stock upon payment of $10 a share___ $956,600
ORGAN IZATION .— Incorporated In New York in July 1906. Stock
Issuable for 2d M . bonds. 20 % .................- ............................. ..
43,400
authorized and issuod, $75,000; par, $100. Firet mtge., auth., $200,000;
outstanding, $71,000 gold (c*tf) 6 % J-J. due July 1 1937; int. at Columbia Preferred Stock ($100) 6% cum. red. at par; authorized_________ $250,000
$173,600
Issuable for 2d M . bonds, 8 0 % ...................................... ............
Trust C o., Now York, trustee. Subject to call at 105 and int. Earn
Available for unforeseen exp. and future requirements..........
76,400
ings for year onding Dec. 311916, gross, $9,661: net. $1,155; fixed charges,
$3,994; deficit, $2,839. On Doc. 12 1917 the P. S. Comm, granted auth. First Mtge. 25-ttr. 5 H % bonds (First Fed. Tr. Co., trustee); auth. $750,000
Issuablo $ for $ for present 1st M . 5% bonds...........................
$655,000
Issuablo for 2d M . bonds, 20 % ....................................................
43.400
Available for unforeseen exp. and future requirements..........
51,600
Thero was a floating debt of $76,600 secured by pledge of treasury securities
($80,000 1st M . and $33,000 2d M . bonds). In Sept. 1918 the stockholders
raised sufficient money to pay off this floating debt, thus clearing the
way for the completion o f the reorg. plans. V. 107, p. 1193.
SLATE BELT ELECTRIC STREET R Y .— A trolley road
Voting Trust.— Tho now common stock will be depasitod with the First
ORGAN IZATION .— Incorporated in Pennsylvania on Feb. 14 1899. Fedoral Trust Oo. for 7 years under proxy agreement; pref. stockholders
Was formerly leased to tho Lehigh Valley Traction C o., but lease canceled havo tho right to elect a majority of directors in case of non-payment of
on May 10 1904, owing to default in payment o f rental. For changes in their dividends.
directorate and officers In Feb. 1917. see V. 104, p. 765.
Bonds.— Callable at 105 for sinking fund. The mtge. provides that
Committee for 2d M . 4s.— George K. Mosser, Allentown, Pa.; Alan C. earnings ordinarily applicable to com. divs. shall be apportioned as follows:
Dodson, Bethlehem, Pa.; W. W. Doughten, Brown Bros. Bldg., Philadel
(1) ir earnings justify and conditions permit, a div. of 2 M % shall be paid
phia, Pa.; Thomas A. Keck, Falmouth, Mass.; Frank M . Horn, Catasau- on com. stock. (2) Any amount remaining after such payment shall be
qua, Pa.; Hubert E. Rogers, Sec. & Counsel, 60 Wall St.. N. Y . City. distributed 50% to common stockholders, 25% to a trust fund to retire
Depositary: New York Trust C o.. N. Y . See V. 103, p. 2156.
now 1st M . bonds and 25% to retire preferred shares.
PATTON, PA.
PEEKSKILL, N. Y.
PEORIA, ILL.
PETALUMA, CAL.
PEN ARGYL, PA.
[Vol. 107.
ELECTRIC RAILWAYS
9 2
Reorganization Committee.— Rudolph Sprockets, Geo. P. McNear, Frank
A. Brush, Allen I. Kittle, W . H. Hamilton, Russell Lowry, H. P. Good
man, James Otis and L. B. Mackey, Sec. For further details see V. 105,
p. 2456; V, 106, p. 296.
Successor Incorporated.— On Aug. 23 1918 tho Petaluma & Santa Rosa
R R . was incorporated as successor company, with $1,250,000 auth. capital
stock, par $100. V. 107, p. 906.
On Oct. 11 1917 the Cal. R R . Comm, estimated the depreciated repro
duction value of the property as of Dec. 31 1916 at about $1,380,000, and
stated that tho road had been “ efficiently and honestly managed,” but
needed higher transportation rates, which were accordingly authorized
— see below. With additions to June 30 1918 tho present depreciated
valuo of the property is placed at $1,606,584. V. 107, p. 1193.
Fare Increases.— In Oct. 1917 tho Cal. R R . Comm. auth. tho co. to
increaso the minimum charge for passengers between any two points outside
tho limits of Petaluma, Sebastopol and Santa Rosa from 5 to 10 cents; to
discontinue the salo of S5 worth of transportation for $4 25, and to Increase
tho price of scrip books representing S10 worth of transportation from $7 50
to $9. V. 105, p. 1708. Those increases bocame effective on Nov. 15 1917.
Effective July 1 1918 tho R R . Comm. auth. an additional increaso of 5 cts.
on all fares excepting thoso revised in Oct. 1917.
Freight Rale Increase.— On Aug. 6 1918 was auth. by the Cal. R R . Comm,
to increase freight rates to tho level o f thoso charged on steam railroads
(an increase o f about 25% ). V. 107, p. 697.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS—
- ....................
994.100 ...............
Com stock $1,000,000 ($100). ____
5 g M-S
655,000 Mar 1 1924
1st mortgage $1,000,000 gold I 1904
($1.000)...........- ..............c* Interest at Mercantile Trust C o., San Fran.,
Trusteo, or at U. S. Mtge. S Tr. C o., N. Y
c
6_
217.000 Apr 1 1917
2d mortgage $250,000 gold, 1905
. _.
. g_A-0 _
..
,
($ 1,00 0)________________cl Mercantile Trust C o., San Fran., Trusteo.
Stock.— Remaining $5,900 stock is held in treasury.
Petaluma & Santa Rosa Hands.— The first mortgage bonds have a sinking
fund “ ample to take caro of bonds.” Sinking fund payments aggre
gating $66,150 are overdue. $170,000 aro reserved for extensions at
$17,500 per mile and 75% of cost; $95,000 have been retired; $80,000
ledged as collateral. Aro subject to call at 110. $33,000 second mortgage
onds are held in treasury. 2d M . bonds originally matured April 1 1915
but were extended for two years.
EARNINGS.— For years ending Dec. 31:
Year—
•Gross.
Net.
Charges.
Surplus.
1917...................................... $293,303
$74,232
$59,974
$14,258
1916....................................... 273,534
76,648
61,602
15,046
612,886 railway passongors carried in 1917, against 619.729 in 1917.
ROAD.— Operates 43 miles of track from Petaluma through Sebastopol
to Santa Rosa, with branches Sebastopol to Forestville and Liberty to
Two Rocks. Connects at Petaluma with steamers for San Francisco.
Owns steamers "G old ” and “ Petaluma.” Standard gauge. 70-lb. T rails.
OFFICERS.— Pres., Thomas Maclay, Petaluma, Cal.; Gen. M gr., E. H.
Maggard, Petaluma.— V. 106, p. 296, 1689; V. 107, p. 697, 906, 1193.
S
PHILADELPHIA, PA.
UNITED NATIONAL UTILITIES CO.— A holding co.
ORGANIZATION.— Incorp. in Del. Fob. 26 1917, and has acquired
practically the entire common stock o f National Properties Co. (soo below).
Through its subsidiary companies supplies electric light and power to more
than 50 cities and towns in Eastern United States, gas to 11 cities and towns,
and operates 623 miles of electric railway servlco in portions of the samo
territory. See V. 104, p. 1703. Franchises either perpetual or for long
periods; no burdensome restrictions.
Tho pref. stock was brought out in April 1917 at the rate of $1,000 prof,
and $500 com. stock for $1,000. V. 104, p. 1703. The Utilities Service
Corp., Phila., which brought out the stock, also offorod to exchange the
stocks o f the United National Utilities Co. for 4-6% coll. tr. bonds o f tho
National Properties Co. on the basis o f $700 6% prof, and $350 com. stock
of the United Co. for $1,000 bond of tho National Properties Co.
STOCK AND NOTES.
Date. Interest. Outstanding. Maturity.
Com.stock, $10,000,000 ($100)........................... $3,000,000 _____________
Q-M
2,500,000 D e c '17114%
Pref.6% cu.$10,000,000($100)___
Coll. tr. notes, $1,800,00011917 6 M-S
1,800,000
Mar 1 1920
($1,000)_______________tf/P a . Co. for Ins. on Lives, &c., Phila., trustee.
Preferred Stock.— In case o f liquidation or dissolution or distribution of
assets, holders o f pref. stock shall be paid par and divs. before any amount
shall be payable to holders o f com. stock. Callable at any dlv. period at
105 and divs., and no additional shares can be issued except under proper
restrictions.
Notes.—The direct obligation of tho co. and secured by $2,500,000 (entire
Issue) Nat. Properties Co. com. stock and $570,000 American Rys.-Jersey
Central Traction coll, trust 6s. Red. any int. date at 101 and lnt. Tax
refund In Pennsylvania.
Dividends.— Quar. divs. of 114% on pref. stock were begun Juno 1 1917.
EARN INGS.— Income o f the controlled cos. for cal. year 1910 available
for lnt., &c., $528,162; annual int. on notes, $108,000 and pref. divs., $150,
000; balance for common, $270,162
OFFICERS.— Pres., Van Horn Ely; V -P ., William C. Sproul; Sec. S
c
Treas., Walter W . Perkins.— V. 104. p. 2236; V. 105, p. 390, 1310.
NATIONAL PROPERTIES CO.
•
Controlled by United National Utilities Co.— see above.
ORGANIZATION.— Incorp. In Del. In M ay 1912 to acquire and oper
ate gas, electric and water companies, and street or interurban railways
or other public utility properties.
Acquisition of American Rys.— As of Jarf. 1 1916 acquired control of tho
American Railways Co. through purchaso of a majority of its $6,713,150
common stock then outstanding, paying therefor at par in guar. coll, trust
bonds. (As o f 8ept. 11 1917, $6,479,750 of the stock nad been so acquired.)
At the same time It turned over to the American Rys. Co. of Del. its hold
ings o f $4,060,000 com. stock of the Wiirn. & Phila. Trac. C o., receiving In
payment a further amount o f $2,560,000 com. stock and $1,500,000 prof,
stock of Tho American Rys. Co. of N. J. Soe V .101, p. 1473, 1714. Total
common stock of American Rys. Co. owned as of Sept. 11 1917, $9,039,750.
Also owns or controls tho Water Co. of Tonopah, Chester County Lt. &
Power Co. and Now Castle County Electric Co.
Holders o f tho company’s 6% pref. stock of record Aug. 14 1916 were
given the opportunity (up to Sopt. 1 1916) o f exchanging their shares for
shares o f tho American Rys. Co. 7% pref. stock owned, on the basis of
10 National Prop. Co. 6% shares for 9 American I£ys. Co. 7% shares, with
adjustment o f accrued uiv. in cash. V. 103, p. 666. Holders of about
96% of Nat. Prop. Co. prof, stock availed themselves o f the privilege.
STOCK AND BONDS—
Date. Interest. Outstanding. Maturity.
Common $10,000,000 ($100).....................................$2,491,400 Sop'17, 1%
Pref cum $10,000,000 ( $ 1 0 0 ) - .___
6 J-J
1,699,400
See text
Coll tr M $7,000,000 (par not] 1910 See text
6,479,750 Jan 11946
loss than $100)___________ (Contlnontal-Equlp. T . S T . Co., Phil.,Trus.
c
Stock.— $7,900 com. stock in addition to amount roported outstanding
Is held In treasury. Pref. stock sink. fd. provision began. Jan. 15 1918.
Bonds.— The coll, trust bonds bear int. at 4% for first two years, 4 >4%
for next 2 years and 5% thereafter, with a provision to increase tho int.
rate to equal the rate o f dividend, up to 6% , paid by the company on its
common stock. Reel, on or after Jan. 1 1921 at 10244 and int. Secured
by deposit of common stock of the American Itys. Co. acquired in exchange
for tho bonds and the additional $2,560,000 common stock received in ex
change for WHm. & Phila. Trac. stock, against which no bonds will be
Issued. V. 101, p. 1714.
Dividends.— 6% Is being paid on pref. stock. Initial div. on com.— 2 % —
paid July 1916; D ec., 3 % . In 1917, July, 2% ; Sept., 1%.
Earnings.— Gross earnings of subsidiary cos. for year ending Dec. 31
1916, $8,960,798; in 1915, $7,671,313. Net earnings of Nat. Properties Co.
(Incl. proportion of undistributed.net earns, o f sub. cos.) for 1916, $812,541:
pref. divs., $63,203; common divs., $124,570; surplus, $624,768.
OFFICERS.— Pres., Van Horn Ely, Phila. v .-P ., A. C. Robinson,
Pittsburgh; Sec. & Treas., II. P. Carr, Phila.— V. 103, p. 666, 2341;
V. 104, p. 952, 1045, 1702, 1899.
THE AMERICAN RAILW AYS CO. (of New Jersey).
On Jan. 1 1916 the National Properties Co. acquired control through
purchaso of practically all of the company’s coni, stock at par. See remarks
under "Organization” below.— V. 101, p. 1464, 1712, 1805.
ORGAN IZATION .— 2'he American Rys. Co. was incorp. under laws of
N. J. In 1900 as a consolidation o f tho former American Rys. Co. and the
United States Electric Ry. S Light C o., which latter had only $1,000 of
c
outstanding stock. In Fob. 1913, after tho passage o f the “ Seven Sisters”
bills In N. J., as a precautionary measure, a Delaware charter was taken out
by the “ American Railways Co. of D el.,” with the samo authorized capital
stock as The Am. Rys. Co. (of N. J.), but with only $1,000 paid in. The
Am. Rys. Co. held this $l,O0O stock and subscribed to tho remainder. In
Dec. 1915 the Am. Rys. Co. of Del. called on The Am. Rys. Co. to take
$1,500,000 pref. and $2,560,000 com. stock, and accepted in lieu of cash,
same par or stock of the latter, with which lt (tho Del. co.) acquired the
stock of the Wllm. & Phila. Trac. Co.
In Dec. 1905 purchased a controlling Interest In tho Scranton R y. C o.,
paying par ($50) for both common and pref. stock. V . 81, p. 1847: V . 82,
p. 1375; V. 104, p. 71.
, T
In Jan. 1910 acquired control o f the Johnstown Pass. R y ., the Lynchburg
Trac. S Light Co. and the Roanoke Trac. & Light Co. (V. 89, p. 1595;
c
V. 90, p. 235), and mado two new Issues of collateral trust bonds to provide
In part for cost of same. V. 89, p. 1595; V. 90, p. 235. In Jan. 1914 the
Amor. Rys. sold the Johnstown Pass. R y. stock to tho Johnstown Traction
Co. (see under “ Johnstown” ) and tho collateral trust bonds woro called for
payment July 1 1914.
____ _
The Peakland Corporation was formed during 1909-10 with SoO.OOO
stock (all owned by American R ys.), to acquiro and own real estate In
vicinity of Lynchburg.
.
____ ___
• Aug. 1911 acquired the Ohio Valley Elec. R y. and Issued S2i000,000
In
coll, trust bonds to pay for same and for ext. and Impts. V. 92, p. 1435:
V. 93. p. 468.
„
On March 1 1917 acquired tho National Gas, Elec. Light & Power Co.
(V. 101, p. 135.) In M ay 1917 acquired the Jersey Central Traction Co.
(which see under "Keyport, N. J .” ) and the Monmouth Ltg. Co.
In Jan. 1917 $1,750,000 10-year 5% coll, trust bonds woro issued to
rovido in part for the $2,500,000 bonds maturing April 1 1917. Tho new
onds are secured by tho samo collateral as the original issue. V . 104. p. 361.
Maturity.
STOCK AND BONDS— Date.
Interest. Outstandlna.
$9,460,000 Sco toxt
Common $21,000,000 ($50)— -----J-D 15
4,000,000 A u g ’ 18, I X
Pref 7% cum $4,000,000($100)-----7 Q-F
1.672.000 Febl 1 1919
Secured notes $2,300,000______ 1916 5 F-A
1.750.000 Mar 1 1927
5 M-S
Coll trust $1,750,000 gold____1917
2.500.000 Aug 1 1931
Collat Trust $2,500,000 gold] 1911
5*F-A
conv ($500 & 81,000).c* tflin t, at Merchants’ Un. Tr. C o., Phila..Trus.
Ohio Vail Elec coll tr g old-ntt
1911 5 J-J
2,000,000 Jan 1 1961
Lynchb & Rorui coll trust] 1910 5 J-J
987,500 Jan 1 1930
$1,000,000 gold ($500 & {lnt. at Real Estate Titlo Ins. & Trust C o.,
$1 .0 0 0 )_____________ c*tf
Philadelphia, Trustee.
Nat Gas coll trust $1,000,000] 1917
5 M-S
982.600 Mar 11922
($100, $500, $1,000)-C*.tf lint, at Commercial Tr. C o., Phila., trusteo.
Jersey Control Tract coll tr( 1917
6 g M-S
570,000 Mar 1 1947
$570,000 gold ($l,000)c*tflin t, at Commercial Tr. Co., Phila., trustee.
Car trust ctfs Series " A " /
1913 6 F-A
75,000
Soe text
•
(.$1,000) ...............- ..........tfl
Oar trust ctfs Series “ B” f 1914 6 F-A
92,000
Seo toxt
($1,000) .................__c*ntf\
Oar trust certificates Ser "O ” /
1916 5 F-A
118,000
See text
($1,000)________________c\Logan Trust Co. of Philadelphia, trustee.
Car tr cert Ser D (Sl,000).c*tf
1917 6 A-O
191,000
Seo toxt
Stock.— Pref. stock is red. at any time at 110. Prof. S com. stock are
c
listed on Philadelphia Stock Exch. Tho pref. stock was auth. by share
holders on Oct. 17 1912 (V. 95. p. 889, 1038, 1206) and tho auth. amount or
common stock was reduced from $25,OOO,00O to $21,000,000.
Notes.— For securities pledged as coll, for notes, see V. 102, p. 521. Red.
on any int. date at 10044 and Int. on 60 days’ notice. $628,000 have been
redeemed. Penn. Co. for Ins. on Lives S Grant. Annuities, Phila., trustee.
c
Bonds.— Tho 5% Scranton Ry. pref. stock gold trust certifs., duo 1935,
wore called for redemption at 10244 and int. on March 1 1917. V. 104, p.71
The collateral for the bonds of 1917 consists of $1,475,000 stock of the
Altoona & Logan Val. Elec. Ry. and $1,975,000 stock of tho Scran. By. Co.
Coll, trust bonds of 1911 have no sinking fund but bonds are subject to
call on any int. date at 102. Tho collateral for the bonds consists of $2.
250,000 stock (out of $2,500,000 Issued) of the People’s Ry. of Dayton and
$1,600,000 first consol. 5s of tho Chicago S Joliet Electric Ry.
c
Lynchburg-Itoanoko coll. tr. bonds aro red. on any lnt. day at 10244 and
Int. Thov aro secured by deposit of 14.975 shares and 9,725 shares of
Lynchb. Trac. & Lt. Co. and Roanoke Trac. & Lt. Co. stocks, respectively.
Bonds aro listed on tho Philadelphia Stock Exch. Tho Jersey Central Trac
tion coll, trust 6s are all owned by tho United National Utilities Co. and
deposited under Its collateral notes. Are secured by $531,400 com. stock
o f tho Jersoy Central Traction Co. and $305,000 com. stock of tho M on
mouth Lighting Co. Red. at 10244 and int. on any int .date.
Car Trust Certificates.— Of Series " A ,” 15 cortfs, mature Aug. 1 each year,
to 1923 inclusive. Series " B ,” 11 ctfs. maturo Aug. 1 1915 to 1925 Incl.
15 maturo Aug. 1 1926. Series "O ” ctfs. maturo $11,000 yearly Aug. 1
1917 to 1920 and $12,000 yearly Aug. 1 1921 to 1928. They were Issued by
the Logan Trust Co. and unconditionally guar., p. « c I. (end.), by the Amor.
S
Rys. Co. V. 103, p. 1031. Series “ D " certificates maturo $21,000 each
July 1 from 1918 to 1926, and $23,000 July 1 1927.
CONTROLLED.— The following is a list of tho securities owned by The
American Railways Co.:
Owned by
Book
Value.
Outstanding. Am. R. Co.
Amer. Rys. Co. of Del. common stock_ $2,561,00O $2,561,000 $2,561,000
_
do
do
do preferred stock -. 1,500,000 1.500.000 1.500.000
726,500
623,195
do
Ohio Valley coll, trust 5s_ 2,000,000
_
1,393
do
Lynchb. & Roan. coll. tr. 5s.
987,500
1,500
do
preferred stock______________4,O0O,O0o
32,500
32,500
79.062
105.000
do
Nat. Prop.— A. R. Co. 4-6s 6,900.000
403,750
Altoona & Logan Valley/Stock_________ 1,500,000 1.500.000
(Consol M . 444s 3,754,000
454.000
388,280
155.000
149.800
Boyd County Elec. Co. stock_________
155,000
Bridgeton Electric Co./Com mon s to ck ..
100,000
100.000
92,270
1Preferred sto ck ..
50,000
50.000
50.000
Bridgeton & MlIlvllle(N.J.) /S t o c k .........
500.000
500,000
459,364
16.000
16,580
T r a c t i o n C o _______________ 1 5 s _____________
5 0 0 ,0 0 0
Chicago & Joliet Elec. R y./S tock----------- 2,300,000 • 2,300,000
121,676
(Gen. M . 5 s-. 1,600,000 1.600.000 1.280.000
58,193
Chic. S Desplaincs Val. El. R y./Stock . . 1,100,000 1,100,000
c
800,000
(1st M .5s 1.000,000 1,000,000
Chicago Rys. Co. participating ctfs_____
______
115.237
Consolidated Light, Heat S Power stock
c
530,000
530.000
530.000
Dellwood Park Co. stock_______________
150,000
150.000
150.000
Electric Co. of New Jersoy/Stock______
157,500
157,500
156,519
\5s................
319,000
319.000
293,128
Electric Securities C o., N . J./C om m on.
300,000
300.000
59,507
(Preferred.
4O.00O
40.000
40.000
Franklin Real Estate Co. stock_________
10,000
10.000
10.000
Tronton Electric Co. stock______________
150,000
150.000
150.000
Jersoy Central Trac. Co. common stock.
531,400
531.400
265,061
Johnstown Trac. C o/C om m on_________ 1,000,000
5.146
8,000
(Preferred_________ 1,000,000
754.400
754.400
(Stock...............
750,000
751.124
750.000
Lynchburg Trac. & Light] 1st 5s________
800,0OO
1.800
2.000
598,887
lConsol.M. 5s.
720,000
704.000
305.000
Monmouth Lighting Co. capital s to ck ..
305,000
305.000
National Gas, Elec. Light & Power C o .. 1,46.3,800 1,376,200
963,384
Ohio Valloy Elec. R y., common________ 2,000,600 1,979,080 2,128,078
Peoplo’s R y. of Dayton, O., stock______ 2,500,000 2,500,000 2,734,229
Roanoke Trac S Light stock___________ 1,600,000
c
781.124
975.000
Scranton Railway Co. Common_______ 2,006,600 2,000,000 2,005,200
994.400
39.959
/Common stock 1,000,000
500.000
Springfield, O., Ry. C o.) Prof, stock____
500,000
500.000
Union Traction Co. stock_____________
______
12,500
15.106
50.000
The Peakland Corporation____________
50,000
50.000
Wilm. & Phila. Trac. 1st coll, trust 5 s ..
______
40.000
34.000
g
Total book value___________________________________________ $22,053,952
REPO RT.— For fiscal periods (1917 report in V. 106, p. 2337):
— Years ending December 31—
— 6 Mos. end.
1917.
1916.
1915.
Dec. 31 ’ 14.
Gross Income, all sources.$1,568,718 $1,538,269 $1,145,625
$520,509
Interest, taxes. &c...........
874,130
785,931
686,239
226,422
Net income................... $694,588
$752,338
$459,386
$294,087
Common dividends...(4% )378,400(4% )378,400(444)302,099(21.0184,615
Preferred dividends...(7% )280,000(7% )280,000(7%) 140.000(3/*) 70,000
Surplus_____________
$36,188
$93,938
$17,287
$39,472
Sept ., 1918. J
ELECTRIC RAILWAYS
COM BINED EARNINGS OF CON TROLLED COM PANIES.
Calendar Year—
1917.
1916.
1915.
Operating revenues________
312,863,405 88,840,913 $5,438,247
Operating expenses and depreciation. 38,630,331 $5,068,082 $3,209,764
T ax es............................................ ..
596,387
388,891
285,705
$3,636,687 $3,383,940
Operating income......................................
Non-operating incomo________________
56,133
42,168
Sinking fund----------------------------------
$3,692,820
$2,371,170
30,698
$3,426,108
$1,564,376
32,366
$1,942,778
53,442
$1,996,220
$896,399
26,243
N et incom e____________ __________ $1,290,952 $1,829,366 $1,073,578
D IV ID E N D S .— Quarterly dividends o f \ % % each on prof, stock were
begun in Fob. 1913. First dividend on com m on stock, 1 % , D ec. 1900
In 1901 paid 1% each in M a r., June and Sept.; in Doc. paid 1 )4 % . In
1902 paid 1 )4 % each in M a r., June and S ept.; in D oc. 1902 d iv. was in
creased to 1 )4 % . which rato was continued up to and including Sept. 1914.
In D ec. 1914 rato was reduced to 1J4% (V . 99, p. 1450). In 1915 M arch.
1 K % : Juno, 1 )4 % ; in Sept. 1915 rato was further roduced to 1% (V . 101,
p. 526); D oc.. 1 % . in Jan. 1916 dividend periods were changod to June
and D ec. 1915. V . 102; p. 436. In 1916 and 1917, 4 % . June 1918 divi
dend passed. V. 106, p. 2227, 2343.
R O A D .— T otal track about 435 miles; about 789 cars. See also W ilm ing
ton & Phila. T ra c. C o. below . A lso owns about 316 acres o f land for parks
in A ltoona, D ayton , Springfield, B ridgeton, Joliet, Lynchburg andR oanoke.
O F F IC E R S o f The Amorican Itys. C o .; Pres., Van Horn E ly . V .-P s..
John G ribbel, C . L. S. Ttngley; Sec. & T reas., W alter W . Perkins; Asst.
S ec., Asst. Treas. & C om p ., Frank J. Pryor J r., Gen. Counsel, II. B . Gill:
Gen. M g r., II. J. C row ley. Genoral offices, W itherspoon B ld g ., 1321
W alnut St., Phila.— V. 106, p . 1035, 1229, 1343, 2227, 2337, 2343.
(1) B rid g e to n & M illville T r a c t io n .— T rolley.
O R G A N IZ A T IO N .— Chartered In New Jorsoy as successor M a y 3 1897
to tho South Jorsoy T raction C o ., sold in foreclosure. C om pany owns two
toll roads bosidos the trolley road. Franchise Is perpetual.
In N ov. 1917 tho N ow Jersey P. U . C om m , approved tho action o f the
com p any in abandoning tho special rato o f 6 tickets for 25c. and 50 for $2.
STOCKS A N D B O N D S — Date.
Interest. Outstanding. M aturity.
Stock. $500,000 ($50).................... ..
................
$500,000 ....................
First m tgo $500,000, g o ld ./ 1900
5 g J-J
500,000 Jan. 119 3 0
guar ($1,000 and $ . .0 0 )/Interest at E quitablo Trust C o ., Philadel.5 .
(cannot bo called)___ .* c t fi phia. Trustee.
_ *ctf l
Bonds.— For form o f guaranty by American Railways C o. seo V . 71, p.
491. Tho bonds woro listed on the Philadelphia Stock Exchange in Feb.
1901. Tho follow ing are deposited as security undor tho m ortgage:
I , 000 shares o f tho stock o f tho Bridgeton R apid Transit C o.
377
“
“ ..........................
Bridgoton Sc M illvillo Turnpike C o.
$250,000 (ontiro issue) 5 % gold bonds o f tho Bridgoton Eloctric C o.
E A R N IN G S .— For year end. D oc. 31 1916. gross, $146,397; net, after
deducting taxes, Interest, & c., $7,535.
R O A D .— Bridgeton to M illvillo, 11 miles; Bridgeton to B ivalve, 21)4
miles; Bridgoton, local, 5)4 miles. T ota l, 37)4 miles. Oars: pass., 29;
othors, 5; total, 34.
O F F IC E R S .— Pros., Van Horn E ly ; V .-P s ., n . J. C row ley and C . L. S.
Tingley: Sec. S T roas., W altor W . Porkins; G en. M g r., B . F . H ires.—
c
V . 72, p . 282; V. 105, p. 2093.
(2) B r id g e to n E le c tr ic C o .— Acquired In 1899 b y American Railways C o.
O R G A N IZ A T IO N .— Chartered in N ow Jorsoy D oc. 2 1895. Supplies
light and power in B ridgeton, C edarville, N ew port, Falrton, D ividing Crook
and Port Norris, N . J. Stock, com m on auth. and outstanding, $100,000;
prof. auth. $200,000; outstanding. $50,000. Bonds. $250,000 1st M .5 %
gold bonds (tf) $1,000 each, datod July 1 1900, duo July 1 1930, interest
J. & J. at office o f tho com pany: Real Estate T itle Insurance & Trust C o .,
Philadelphia, Trustee. W holo issuo Is pledged with tho trusteo o f the
m ortgage o f the Bridgoton & M illvillo T raction. This was dono so as to
bring tho tw o properties (which are practically ono) undor tho one m ortg’e.
(3) C h ic a g o & D csp la in e s V alley E le c tr ic R y .
O R G A N IZ A T IO N .— Incorporated In 1901 as a consolidation o f the C hic.
Sc Dosplainos Valley E lec. R y. and tho Desplainos Valloy E lec. R y . The
Amorican Railways owns tho entire capital stock, o f which $1,000,000
is plodgod under the m tge. o f tho Chicago Sc Joliot Eloc. R y ., and also owns
the ontiro $1,000,000 bonds, tho whole am ount boing plodgod.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
S tock, $1,100.000...........................- ................... ...........$1,100,000 ...................
First m ortgage, $1,000,000/ 1901
5 M -N
1,000,000 M a y l 1931
($1,000) g o ld _______ c* tf\ In t. at Illinois T r . Sc S av. Ilk ., C h ic., Trustee
Bonds.— T ho full Issue o f tho first m ortgago bonds has boon deposited as
collateral security undor the bonds o f tho Chicago Sc Joliot Electric R y .
R O A D .— Extonds from the W ill C ounty lino, whore it joins the C hicago S
c
Joliot E lectric R y ., to the city lino o f Chicago on A rcher A vo. T otal, 41.45
miles. Branch from Summit to Lyons. Tho through route C hicago to
Joliot was oponod Sopt. 25 1901.
O F F IC E R S .— Pres., Van Horn E ly; V .-P s., II. J. C row ley and O . L . S.
Tingley; Sec. & T reas., W alter W . Porkins; G en. M g r ., J. It. B lackhall.—
V . 73. p .1 8 3 .
,
(4) C h ic a g o & J o lie t E le c tr ic R y . — T rolloy.
O R G A N IZ A T IO N .— Incorporated as a consolidation o f tho Chicago &
Joliot Rapid Transit C o ., tho Joliot Stroot R y . and tho Joliot l i l t . Is oper
ated by power purchased from tno Public Sorvlco C o. o f Northern Illinois.
T ho Amorican Itys. owns $1,600,000 bonds and tho ontiro $2,300,000 capital
stock. In N o v . 1905 tho American Itys. purchased 63 acres o f land near
Joliot, which was converted into a park. This park is owned by tho Dollw ood Park C o ., all o f whoso stock Is hold b y the American Railways C o
Fare Increase.— In July 1917 111. Pub. Utilities C om m , granted an increase
In fares to maximum charge o f 2c. per mile with a minimum charge o f 5c.
This raised tho averago rato per mile from 1.34c. to l.8 7 c. and, it was
estim ated, would allow tho com pany to earn a little over 6 % on its invest
m ent. In Aug. 1918 applied to tho 111. P. U. C om m , for auth. to increaso
fares from 1.87 to 2 cents per mile. V. 107, p. 500.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
Stock, $2,300,000 ($ 100) ............................................
$2,300,000
..............
C hicago & Joliet Electric R y / 1901
5 g M -N
1,600.000 M ay 1 1931
g , $ 2 , 0 0 0 , 0 0 0 ( $ 1 ,0 0 0 ) c * t f \ I n t . a t I ll i n o i s T r . & S a v . B k ., C h i c . / T r u s t e e
J o l io t R R g e n e r a l m t g e , g o l d / 1 89 8
5 g M -N
4 0 0 ,0 0 0 A p r 3 0 1 9 2 3
$ 4 0 0 ,0 0 0 ( $ 1 ,0 0 0 e a c h ) _ _ t f l F i d e l i t y T r u s t C o . , P o r t l a n d ( M o . ) , T r u s t o e .
Bonds.— O f t h o n o w $ 2 , 0 0 0 , 0 0 0 m o r t g a g o , $ 4 0 0 ,0 0 0 a r e r o s o r v o d t o r e t ir e
u n d e r l y i n g lio n s .
$ 2 ,2 0 0 ,0 0 0 o f th o o u ts ta n d in g c a p ita l s t o c k o f th o C h i
c a g o S J o l i o t E l o c t r ic R y . , $ 1 , 0 0 0 , 0 0 0 o f t h o $ 1 ,1 0 0 , 0 0 0 s t o c k a n d $ 1 , 0 0 0 ,
c
0 0 0 (o n t ir o Issu o) b o n d s o f t h o C h i c a g o S D o s p la i n o s V a ll e y E l o c t r ic R y . a r e
c
d e p o s i t e d u n d e r t h is m o r t g a g o a s c o ll a t e r a l s e c u r i t y .
E n t ir e is s u o o f t h o
$ 2 , 0 0 0 , 0 0 0 g o l d 5 s m a y b o c a l le d a t 1 0 5 a n d i n t .
T h o $ 4 0 0 ,0 0 0 J o l ie t R R .
. g o n . m t g e . 5 s o r ig in a ll y fe ll d u o in 1 9 1 8 , b u t w e r e o x t e n d o d f o r 5 y e a r s .
V . 106, p . 1343.
E A R N I N G S . — F o r y e a r e n d i n g D o c . 31 1 9 1 6 ( ln o l. C h i c . & D o s p la i n o s
V a i l . E l e c . R y . ) , g r o s s , $ 6 5 1 ,9 5 6 ; n e t , a f t e r t a x e s , $ 1 6 2 ,6 1 5 ; i n t . , $ 2 7 1 ,1 6 6 ;
d e f i c i t , $ 1 0 8 ,5 5 1 .
R O A D . — E x t e n d s f r o m J o l ie t t o t h o W ill C o u n t y l in o , w h e r e i t c o n n e c t s
w it h t h o C h i c a g o S D o s p la in o s V a ll e y E l o c t r ic R y . f o r C h i c a g o .
c
H as
8 5 .2 3 m ile s o f t r a c k ( in c l . O h . & D . V . E l . R y . ) .
L in e b e t w e e n J o l i e t a n d
C h i c a g o w a s f o r m a l l y o p o n e d S e p t . 2 5 1 9 0 1 . 8 2 p a s s e n g e r a n d 18 o t h e r c a r s .
O F F I C E R S . — S a m o as f o r O n ic a g o S D e s p la in o s V a lle y IS le c tr ic R y . —
c
V . 73, p. 183, 722 ; V . 106 , p . 1343; V . 107, p . 500 .
(5 ) P e o p l e 's R a i l w a y ( D a y t o n ) . — A t r o ll e y r o a d .
A c q u i r e d in 1 8 9 9 b y t h e American R a il w a y s C o .
O R G A N I Z A T I O N . — I n c o r p o r a t e d in O h io J u n e 18 1 8 9 6 C o m p r i s e s 31
m ile s o f t r a c k in D a y t o n , O h io ; o p e r a t e s 3 9 c a r s .
T h e A m e r i c a n R a il w a y s
C o . o w n s e n t ir e c a p i t a l s t o c k .
I n J u n e 1 90 8 a u t h o r i z e d a m o u n t o f s t o c k
w a s in cre a s e d fr o m $ 1 ,1 0 0 ,0 0 0 t o $ 2 ,5 0 0 ,0 0 0 .
STOCK AN D BON DS—
Date.
S t o c k , $ 2 , 5 0 0 ,0 0 0 ( $ 1 0 0 ) .........................
..................
First mtge “ White
5 g A-O
Line,"/ 1895
Interest.
Outstanding.
$ 2 ,5 0 0 ,0 0 0
300,000
Maturity
Oct 1 1925
$ 3 0 0 ,0 0 0 ( $ 5 0 0 ) g o l d , r e d / I n t e r e s t a t U n io n S a v in g s B a n k & T r u s t C o . .
O c t 1 19 0 0 a t 1 1 0 ------------n t f l
C in c in n a t i, T r u s te e .
F ir s t m t g e " P e o p l o 's
R y " f 1 89 7
5 g J -J
2 0 0 ,0 0 0
J a n 1 1927
$ 2 0 0 ,0 0 0 ( $ 5 0 0 ) . g o l d , r e d I n t e r e s t a t U n io n S a v in g s B a n k & T r u s t C o . ,
a t 1 1 0 _______________ - — n t f l
C in c in n a ti, T r u s te e .
E A R N I N G S . — F o r y e a r e n d i n g D e c . 31 1 9 1 6 , g r o s s , $ 5 7 9 ,8 5 1 ; n e t . a f t e r
I n t e r e s t , t a x e s , &<:., $ 1 5 0 ,4 3 2 .
O F F I C E R S .— P r o s ., J o h n A . M c M a h o n . D a y t o n ; V .- P s ., H . J . C r o w le y
and O . L . S . i n g l e y , P h il a . ; S e c . S T r e a s . , W a lt e r W . P e r k in s , P h ila .;
c
Gen. M g r . , G e o . O . T o w l e . — V . 8 6 , p . 1 5 3 0 ; V . 9 7 , p . 1 7 6 .
93
(6) Springfield (Ohio) Railway.— Trolley.
ORGANIZATION.— Incorporated In Ohio Oct. 20 1892; 9,944 shares of
the common stock and 5,000 shares of the pref. stock have been acquired
by the American Railways Co.
New Franchise.— In April 1913 the company accepted a new 25-year fran
chise which gives the city the right to arrange all schedules and route all cars,
to purchase the road at any time after five years at Its depreciated valuation
plus any additional sum necessary to make the aforesaid amount equal to
the bonded debt and Interest thereon and plus a further sum (in full com
pensation for all profits lost by purchase) equal to 1 0 % of the actual de
preciated value; and the city may, at any time, if service is unsatisfactory
take possession and operate the road at an annual rental equal to 6 % of Its
ihysical valuation. The company must pay the city 1 % of its gross earnngs for the first 10 years, and 1 )4 % for final 15 years, in lieu of all car and
pole licenses. Fare, 6 tickets for 25 cents and 25 for $1 until gross earnings
reach $800,000 yearly, when 7 tickets must be given. V. 96, p. 1298;
V. 100, p. 557.
On April 8 1914 the Ohio P. U. Comm, authorized the creation of a new
mtge. of $5,000,000 to refund an Issue of tho same amount made in 1913.
These bonds were offered In M ay 1914. V. 98, p. 1609.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
---------$1,000,000 . . . .
Common (par $ 1 0 0 )...------- ---------Preferred $500,000--------- --------------6%
500,000 _____ .
First mtge $5,000,000 ($100,/ 1914
5 g M-S
1,181,500 See text
$500 <c $1,000) g s f..c* n tf\ In t. at Real Est. T . & I. Tr. C o., Phila.. Tr.
S
Bonds.— $400,000 of the above outstanding bonds provided for by serial
maturity, i.
$12,500 due Sopt. 1 1914 to 1923 incl., $25,000 due Sept. 1
1924 to 1934, the remaining bonds ($4,600,000) due Sept. 1 1935.
Sinking Fund.— When more than $1,250,000 bonds outstanding, sinking
fund of 1 % to 1923 and 2% thereafter of bonds outstanding over and above
the $1,250,000 of original issuo. The escrow bonds ($3,756,000) reserved
for extensions, betterments. Sec., at 80% of cost. Redeemable any interest
date at 102 and Interest. V. 98, p. 1609.
^
ROAD.— Owns 39 miles of track. Operates 82 passenger cars.
EARNINGS.— For year ending Dec. 31 1916, gross, $117,317; net. after
taxes. $115,468; net income. $15,829.
OFFICERS.— Pres.. Paul O. Martin; V.-Ps., n. J. Crowley and O. L. S
Tingley; Sec. & Treas., W. W. Perkins; Asst. Sec., Treas. & Comp., F. J.
Pryor Jr.: Gen. M gr., Geo. C. Towle.— V. 98, p. 1609: V. 100. p. 557.
(7)
A ltoon a & Logan Valley Electric Railway.— Trolley.
ORGANIZATION.— Incorporated in Pennsylvania Aug. 5 1903 Owns
the entire $65,000 stock ot the Lakemont Park C o., also $58 000 of the
$59,000 stock or the Home Electric Light Sc Steam Heating C o' of Tyrone
(Into which the Blair Electric Co. Incorporated in 1908 to do a lighting busi
ness, having perpetual franchise and 10-year contract to light town of Bellwood, was merged in 1910-11) and leases that company for 99 years from
July 1 1903: $54,000 of this stock is deposited as additional security for
tho consolidated mortgage. In Aug. 1903 absorbed by consolidation tho
City Passenger Ry. and the Tyrone Electric Ry. (previously owned) and
increased its capital sotek from $500,000 to $1,500,000. V 77 n 1 7 4 5
In 1912 acquired the Logan Light & Pow. Co. of Tyrone, and operates same
in conjunction with the.Home Elec. Lt. Sc Steam Htg. Co
V. 9 4 p 696
Tho American Railways Co. owns entire stock Altoona & Logan Valinv
Eloctric Ry. and $454,000 consolidated mortgage bonds.
*
In Nov. 1917 353.000 additional bonds were issued for exts. and impts.
STOCK AND BONDS—
Date.
Imerest. Outstanding. Last din die
Stock $1,500,000 ($50).....................
.............
$1,500,000 See text
Consol mtgo $4,000,000 gold/ 1903 4H g F -A 1 5 3.807,000 Aug 15 1933
($500 and $1,000) guar byj Interest at Equitable Trust Co. PhtladelAmerican Itys C o_ c& r.tfl phla. Trustee.
_
Remaining $193,000 bonds are roservea for extensions. These bonds are
guaranteed, p. & I., by endorsement by American Railways Co. No sinking
fund and not subject to call
Dividends.—
-- -
1899-00, none
1903-04. 5 H % .
IJ4 %; In 1908-09 and 1909-10, none; In 1910-11, 1 1-3%; in 1911-12 7 43
In 1912-13. 2.5% ; in 1913-14, 5 % . For 6 mos. ending Dec. 31 1914 2 js l*
In 1915, 4.35% . In 1916, 6 % .
E A R N IN G S — For year ending Dec. 31 1916, gross. $730,174; surplus,
after taxes, interest, &c.. $99,300.
' «urpius,
r , ? . ? / 0 ;- 1 Operates 54 miles of track, connecting Altoona, Bellwood
HolUdaysburg and Tyrone, Gauge, 5 ft. 3 in. Operates 124 cars
OFFICERS.— Pres. Van Horn Ely; V.-Ps., H. f . Crowley ami C L H
Tingley: Sec. & Treas., Waltor W. Porkins; Gen. Mgr , S. S Crane — V 7 fl'
p . 680; V. 80. p. 649. 710. 2456, 2619; V. 82. p. 3337391, 803; V. 94. p. 6 9 9 .
(8 ) Scranton Railway.— A trolley road.
American Railways owns practically all of the stock.
ORGANIZATION.— On Jan. 1 1897 assumed all the assets and liabilities
of the Scranton Traction C o., &c. V. 63. p. 1064; V 64 p 85
As at
present constituted, is a merger of 21 companies. Operates! practically
without competition, in the Lackawanna Valley from Forest City in Sus
quehanna County, to Pittston, in Luzerne County, serving, among others
the cities of Scranton, Pittston and Carbondale, and the boroughs of Arehl
bold, Blakely. Dickson City Dunmore. Jermyn. Mayfield Moosic. Old
Forge, Taylor, Throop, Vandling, Avoca, Duryea. Forest City
Franchises perpetual.
Wage Award by War Labor Board.— V. 107 p 502
Fare Increase.— In Sept. 1918 filed a new tariff with the Penn P S
Comm, which calls for an increase from 6 cents to 8 cents in all’ zones’.
V• 1071 1). lOUo.
STOC/KAND BONDS—
Date.
interest. Outstanding.
Maturity.
-------------- $2,000 000
Stock ($50)---------------------------------8cranton Ry lst&ref M $15,-/ 1917
5jF-A
2,500 000 Fe'b' 1*1 9 4 7
000.000 g ($1,000)—c *rtflin t, at Merch. Un. Tr Co Phila tru sts
Scran Trac 1st M $1,000,000/ 1892
6 g M -N
1,000 000 N ov 1 1 9 3 2
a ($1,000) gold no o p t..c * t flin t , at Merchants’ Union Trust Co Phila
Scran Pass Ry 1st M($ 1,000)tf 1890 6 M -N
100 000 Alay 1 1 9 2 0
Peop St Ry 1st M ($ l,0 0 0 )g.tf 1888 6 g F-A
200 000 Aug7 1 im s
People's St Ry gen mtgo g ._ t f 1891 6 g J-D
100 000 Dec 1 1921
Scranton Ry mtge $2,500,000/ 1897 5 g J-J
1,100 000 Nov 11932
gold ($1.000)...............c*tf* ,nTnYorr A-HS* C
*
8cranton Ry gen mtge $1, N 10*Tr5 ^ ? '£ m o- N - Y. City, Trustee.
w
*1.000.000 Nov 1 1920
000,000 gold ($ l,0 0 0 )---tf
a* Equitable Trust C o., Phila., Trustee.
Scranton & Carb’d 1st mtge T1? 93 - £ g
160.000 Jan 1 1923
$1,000,000 g ($ l,000).c*tf Inm
American R ys- Oo.. Phila. Lack.
Free of State tax.
, f .Sc S. D. Co.. Scranton, Trustee,
Scran & Pitts M $525,000 g rJ,?93* 6 g A-O
295,500 Oct 1 1923
($1,000 and 35 0O )...c*n tf InJ' at Union Trust. Trustee, Phila. Nos. 1
Guar, by Scranton Trust. _ . M O S I.000 each & Nos. 401 to 650,3500
1st M , Carbondale Traction 1892
6 g J -J
150,000 July 1 1922
f
aO
500C^nd'$1.000 ')000’ 80ldi In ™
0
„ ? t CeIltral Truat C o .. N ew Y ork .
Carbondale Iiy gen mtge gold/ 191QSU'5 J-J
800 000 Jan 11933
$800,000 guar p & i— etfi Provident Life & Trust Co . Phila Trustee
Bonds.— Ot the $2,500,000 Scranton Ry. mortgage 5s of 1897. $1,400 000
are reserved to retire prior bonds at maturity. The Scranton S Pittston
c
bnndsare guaranteed by the Scranton Ry. Scranton R y. gen. M . bonds
of 1910 are subj. to call at any int. period at 102 and int.
mortJ?afJ0 Carbondale Traction. due 1922. has a sinking fund of
$2,500 per annum after July 1 1895, but bonds cannot bo called. Carbondale Ry. mtge. for 1910 is unconditionally guar., p. & 1 bv the Scranton
Ity. Subject to call on any int. date at 105 and'int. V. 93 p 1785
The 1st & ref. 5s o f 1917 are callable after 1922 at 102 H and int. Guar,
p. & I., by endorsement, by Amer. Rys. Co. $4,896,000 are reserved for
undeHying^onds and $7,604,000 for impts. under guarded restrictions.
Dividends;— Since 1906 paid dividends varying from $125,000, the minl$ ’ 19°5 OOtHn^giO6 aUer ,wnounfc ,n 1914: *175,000 was paid in 1915
'
ROAD.— Qwns and operates all the street roads In and around city of
Scranton, aggregating 90 miles. Operates 206 cars
*
EARNINGS.— For year ending Dec. 31 1916, gross, $1,403,480; surplus
$1*25 000°3’ Ut“ &C" *204,584, Annual ,nt- °n $2,500,000 1st & ref. 5s
OFFICERS.— Pres., Van Horn EIv V.-Ps., nenry J. Crowley and O. L.
GOERS.—Tres..
Ely;
8. Tingley; See. & “
' Treas., Walter W. Perkins; Gen. M gr., W . E Boileau
gley;
V. 104, p. 1703; V. 105, p. 1210; V. 107, p. 502, I 00T
i,
(9) Lynchburg T raction & Light Co.— Trolley.
In 1910 American Hallways acautred control. V. 90 d 167 236
\v?vRi tenrZ^ the Lynchburg Electric Ra lway S Light consolidation A
O
i-ri
>
May 1 1901 of T h ^ T ^ M C0rp? atedi,nr V nS,nia’ can<1 is atho Lvnchbiinz on
Rivermont Street Railway (franchise perpetual) an.l tee Lynchburg Gas
C o., and comprises all tho street railways, gas works and electric-light
mT
94:
ELECTRIC RAILWAYS
plants of Lynchburg and hydraulic power development at Reusens, Va.;
also owns all the stock of the Lynchburg Water Power C o., and has assumed
the $500,000 1st mtge. 5% bonds o f that company.
In 1,907 authorized stock was Increased from $750,000 to $1,000,000, to
rovlde for the convertible feature o f new bonds, but these bonds have sine*
een retired, none having been converted.
American Railways owns entire capital stock, $704,000 of Lynchburg
Trac. S Lt. consol, mtge. bonds, and $2,000 1st M . bonds.
c
Fares.— In June 1918 was auth. by the Va. Corporation Commission to
discontinue the sale o f 6 tickets for 25 cts. and 16 school tickets for 50 cts.,
and to establish a straight 5-cent fare.
Rate Increases.— InJ une 1918 announced an increase in its gas rate from
$1 10 to $1 30 per 1,000 cu. ft. with a refund o f 10 cents for prompt pay
ment. Electric power rates were also advanced. V. 106', p. 2757.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock, $1,000,000 ($50)----------------J-D
$750,000
See text
First mtge $1,000,000 sink fd 1901
5 g M -N
788,000 May 1 1931
($1,000) gold...........c * n t f Real Estate Trust C o., Philadelphia, Trustee
Lynchb Trac & Lt con mtge 1911
5%
720,000
1931
$1,750,000..........
ntf (Real Est. Title Ins. & Tr. Co., Phila., Trust.
Lynchburg Gas Co first mort 1900 5 M-S
111,000
1930
gage $250,000___________tf Int. at Real Estate Trust Co., Phila., Trust.
Lynchburg Water Power first 1902
5
452,000 July 1 1932
mortgage $500,000------ntf Real Estate Trust C o., Philadelphia, Trustee
Bonds.— Of the 1st mtge. bonds, $111,000 are reserved to retire bonds of
like amount of Lynchburg Gas Co. due 1930, and of which no more are to be
issued. Sinking fund of 1% per annum became operative in 1906, which
was increased in 1916 to 1 H % . Entire Issue can be called at any time.
Dividends.— In 1904, July, 1%; N ov., 1%: in 1905, 2% : in 1906, 2M%\
n 1907. 3% : in 1908. 5% : in 1909, 5% : In 1910, 3% : in 1911.6% : in 1912.
%: in 1913, 9.339%; in 1914, 12.12%; in 1915, 8.8% ; in 1916, 8% .
EARNINGS.— For year ending Dec. 31 1916, gross, $543,056; net
after interest, taxes, fee., $79,660.
ROAD.— Owns and operates 18 miles of track In city and suburb*.
60 to 100-lb. T and girder rails. Standard gauge. Operates 39 pass, cars;
3 other; 1 sweeper. Owns Rivermont Park.
OFFICERS.— Pres., Van Horn Ely; V.-Ps., O. L. S. Tlngley and II. J.
Crowloy; Sec. & Treas., Walter W . Perkins.— V. 106, p. 2450, 2757.
(10)
Roanoke T raction & Light Co.— A holding company.
ORGAN IZATION .— Incorporated in Virginia July 28 1908. Owns the
Roanoke Water Power Co., the Bedford Power Co., the James River Water
Power Co. and the Roanoke Heat, Light S Power Co., and controls, through
c
ownership of all the capital stock, the Roanoke Railway S Electric Co. The
c
Roanoke Water Power Co. had $350,000 bonds which were bought In aud
mortgage satisfied. The Roanoke Heat, Light & Power Co. had Issued
$250,000 bonds, all of which have been retired (V. 87, p. 1089, 1160).
The Amer. Rys. Co. owns $975,000 o f the $1,000,000 stock.
STOCK AND BONDS—
Date. Interest. Outstanding. Maturity.
Stock, $2,000,000 ($100)...........................................$1,000,000 .....................
First mortgage and collateral f 1908 5 g F-A
1,790,000 Aug 11958
trust $3,000,000 ($1,000)]Int. at Bioren & Co., Phila., or Baltimore
gold.............................c*ntf l Trust & Guarantee C o., Baltimore, Trust.
Bonds.— $750,000 bonds are reserved to retire a like amount of bonds of
the Roanoke Ry. & Elec. Co. The remaining $460,000 are roserved for ad
ditions and extensions at not exceeding 85% of cost. Bonds are subject to
call on any Int. day at 105 and int. Sinking fund of 1% of outstanding
bonds, payable Feb. 1 1919 to 1928; 1J4% thereafter.— V. 94, p. 983.
(a) Roanoke Railway & Electric C o..—
ORGANIZATION.—The Roanoke Street Ry. and the Roanoke Electric
Light & Power were both sold at foreclosure Aug. 1 1899. The present
company was incorporated In Virginia. Franchises expire in 1935 and some
erpetual. Does all lighting and railway business in and about Roanoko,
alem and Vinton. Owns 250 shares of Roanoko Trac. & Light Co. stock.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock, $500,000 ($100)--- — - — —
_ J-D
$500,000
See text
First mortgage, $300,000, g 1899
5 g J-D
58,000 Dec. 1 1949
c
($1,000) sinking fu n d ..n tf Int. at Mercantile Tr. S Dep. Co., Balt., Tr.
First consolidated mortgage, 1903
5 g F-A
627,000 Feb. 1 1953
________________
__
$750,000 ($1.000)_g s f.c * t f Int. at Real Estate Trust Co., Phila., Trustee
Bonds.— Sufficient consol, bonds are reserved to retire 1st mtge. bonds.
Sinking fund on Feb. 1 1910 annually to Feb. 1 1920 1% o f outstanding
bonds and thereafter 1 K % .
Dividends— In 1904, 3j^ % : in 1905, 5 K % ; In 1906, 8% ; in 1907, 6% .
nono to 1910, when 3% was paid; in 1911, 5 3-5%; in 1912, 6.7% ; In 1913.
6.12% : in 1914, 12.02%; in 1915, 7.4% ; in 1916, 5% .
EARNINGS.— For year end. Dec. 31 1916 (including both electric and
railway departments), gross. $688,978: net, after taxes, Int., &c.. $44,012.
R O A D .— Operates in Roanoke; also extensions to Salem and Vinton,
Va.; total, 29.85 miles o f track. About 41 passenger cars, 4 other cars,
60. 60 and 72-lb. rail. Also owns park and theatre.— V. 90, p. 168.
(11) O hio Valley Electric Railway C o.— A trolley road.
In 1911 acquired by the American Railways.— V. 92, p. 1437; V. 93.p.470.
O R GAN IZATION .— Incorporated in West Virginia in 1899. Franchises
run until 1957 in W. Va.; In Ky. and Ohio in Dec. 1916 ran for nearly the
full term allowed by statute, 20 and 25 years, respectively. In Feb
ruary 1908 name was changed from Camdon Inter-State Railway to the
Ohio Valley Electric Railway. Owned entire stocks o f Consolidated
Light, Heat & Power C o., Ashland Elec. Lt. S Pow. Co. (now Boyd
c
County Electric Co.) and Ironton Elec. Co., but at time o f acquisition
by Amer. Rys. these were turned over to latter company. On May 1 1908
acquired the $500,000 stock of Kanawha Valley Traction Co., which has
been leased to the Charleston (W. Va.) Interurban RU. (see page 25) for
99 years at a rental beginning with $10,000 per annum in 1910 and Increasing
to $20,000 in 1916 and thereafter until the expiration of the lease. Also
owns entire stocks of the Ashland S Catlettsburg St. Ry. and Ashland In
c
terurban Ry.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity•
Common $2,000,000 ($100)...............
................... $2,000,000
Seo text
Pref 6% cum $400,000 ($ 1 0 0 )-----J-J
345,800
Seetex'
5 g J-D 1,675.000 Dec 11946
1st M $2,200,000 gold guar/ 1916
($ 1 ,0 0 0 )____________ c*tf iPenn. Co. for Ins. on L. & G. A .. Phil..trust
Bonds.— The outstanding bonds were issued to take up $1,350,000 Cam
den Inter-State Ry. 5s due Mar. 1 1921; $175,000 Hunt. & Charleston 5#
due 1936; $100,000 Cons. Lt. S Itys. 6s duo 1922, and $50,000 Ashland A
c
Catlettsburg 6s due 1919. Remaining $525,000 are for e*ts. and better
ments under restrictions. Red. after Dec. 1 1921 at 1 0 2 and int. Penn.
State tax refunded. Guar., p. & 1., by end. by Am. Rys. Co. V. 103, p.
2342.
Dividends.— Semi-annual dlvs. (J-J.) o f 3% were paid on pref. from
1908 to 1917, incl. On common. 1910. 3% ; 1911, 2% ; 1912, 6% ; in 1913
3.9% ; in 1914, 2.9% : in 1915, 4% ; in 1916, 6% .
EARNINGS.— For year ending Dec. 31 1916, gross, $661,938; net
after taxes, Int., &c.. $175,656.
ROAD.— Operates 46.3 miles o f track in and between Huntington and
Kenova, W. Va., Catlettsburg and Ashland, K y ., and Ironton. Ohio.
Operates 56 pass, cars, 17 other cars.— V. 104, p. 257; V. 106, p. 1231.
E
§
(12)
E lectric C o . o f New J ersey.
ORGAN IZATION .— A merger July 5 1916 of a number o f electric light
cos. in Gloucester, Salem and Cumberland counties, N. J., along the Dela
ware River opposite Wilmington, Del., and Chester, Pa. Supplies electric
current for electric light and power in municipalities o f Salem, Pennsgrove.
Woodstown, Mullica Hill, Pitman, Glassboro. Wllliamstown, PauTsboro
filementon, Laurol Springs, Berlin, Elmer, Clayton, Quinton, Swedestwro.
Pedricktown, Pennsville. Harrisonville, MIckleton, Clarkesboro, Wenonah, Bridgeton, Port Norris and many other smaller places. The Ameri
can Rys. Co. owns the entire outstanding stock and bonds.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $475,000.................... ........... .........................
$157,500 ...................
First mtge $5,000,000 gold! 1917
5 g M-S
319.000 Mar 1 1947
($1,000) .................. c*& rtfjlnt. at Comm’l Trust C o., Phila., trustee.
■ Bonds.— $250,000 are reserved to retire bonds of Bridgeton Elec. Co.,
remainder for exts.. add'ns, &c.. Red. after 1922 at 102H .— V. 103, p.
937; V. 104. p. 1390. 1493.
W IL M IN G T O N & P H IL A D E L P H IA T R A C T IO N CO.
On Jan. 1 1916 control was acquired by the American Rys. Co., control
of which was In turn taken over by the National Properties Co. See those
companies above.
O R GAN IZATION .— Incorp. In Dela. June 27 1910. Owns all stock of
Southern Penn. Trac. C o., Chester & Eddystone St. Ry. and Wilm. Lt. &
Pow. Co. On June 1 1915 acquired control o f People’s R y . o f Wilmington,
[Vol. 107.
Del. (stock, $1,500,000), and In Oct. 1915 purchased the Wilmington
Southern Trac. Co. and the Wilm. New Castle & Delaware City R y., and
consolidated them under the name of the latter. (Stock, $600,000).
Leases for 990 years from July 1 1910 the Wilm. City R y., Wilm. S Kdgoc
moor Elec. R y., Gordon Heights R y., Front & Union St. R y. and Wilm.
City Elec, and New Castle County Elec. Co. at a minimum annual rental
of .$79,010. to a maximum of $120,610 in 15 years.
Fare Increase.— On Juno 5 1918 was auth. to increaso fares from 5 to
7 cents, effective June 10 1918, but because of considerable opposition
the fare was reduced to 6 cents pending a court decision. V. 106, p. 2651.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Common stock............................... ...........................$4,060,000 . .
.
Preferred s t o c k ............................................ ............
500,000 ...................
People’s Ry 1st M $3,000,000 1915
5 g J-D
1,650,000 June 1 1965
gold ($1,000) guar...........c* Int. at Fidelity Trust C o., Phila., Trustee
Wilm. So. Trac. 1st M gold 1915
5 g A-O
163,000 Oct 11965
$300,000 ($1,000) guar----- Int. at Wilmington (Del.) Trust Co., trusteo
W N O & D O 1st M $2,000 1916
5 g J-J
Nono
Jan 1 1966
000 g ($1,000) gu a r.-c*tf Int. at Falrm. Sar. Tr. Co., Phila., trustee
Chester & Eddystone 1st M l 1916
5gh
M-S
53,000 _
Sept 1 1946
gold $100,000 ($1,000) g u lln t. at Phila. Trust Co7.'Phila.^trustee.
Bonds.— All four Issues are guar. p. & 1. by the Wilm. & Phila. Trac. Co.
Remaining People’s Ry. and Wilm. So. Trac. bonds roserved for irnpts. at
85% of cost. People’s Ry. bonds are red. on any Int. date at 105. $300.OO0 Wilm. N. O. & C. D. bonds are reserved for the Wilm. So. Trac. ootids;
remainder may be issued for exta. and impts. at 85% of cost. Red. at 102
on any int. day.
ROAD, &c.— Comprises street railway lines in Wilmington, Now Castle
and Delaware City, Del., and Chester and Media. Pa., and interurban IIne3
connecting these places with each other and with Philadelphia, a total or
140 miles of track. Also does electric light and power business In Wil
mington, New Castle, Delaware City, Newark ana vicinity In Delaware,
the southeastern part of Delaware County. Pa., and Elkton, Chesapeake
City and vicinity. In Maryland.
EARNINGS.— Including Southern Pennsylvania Traction Co.:
Cal. Year—
Gross Earns.
Net Earns. Chgs. & Tax. Bal..Surt>.
1917---------- -----------$2,998,390
$1,021,351
$842,877
$178,474
2,548.151
1.090.299
751,132
339,167
OFFICERS.— Pres., Van Horn Ely, Phila.; Vice-Pres. & Gen. M gr.,
T. W. Wilson. Wilmington; Sec. & Treas., C. N. Ryan, Wilmington:
Aud., C. E. Yost, Wilmington.— V. 100, p. 1372, 1466; V. 106, p. 2651.
(1) W ilm ington & Chester T raction.
United Power S Trans. Co. owns 39.995 out o f 40.000 shares of stock.
c
Lease.— Part of this company’s lines are leased to the Wilmington S
c
Phila. Trac. Co. and part to the Southern Pennsylvania Trac. Those In
Delaware, viz.. Wilm. City R y., Gordon Heights Ry., Front & Union St.
Ry. and Wilm. & Edgem. El. Ry. are leased to Wilm. S Phila. Trac. (soe
c
above): thoso in Penn., viz., Chester Trac. Co. and Its subsidiaries aro leased
to Southern Penn. Trac. Co. (see below).
ORGANIZATION.— Incorporated March 1898. Has acquired all
the stock of the Wilmington City Ry. ($519,930), the Gordon Heights
Ry. ($51,500), the Front & Union Street Ry. ($299,930) and the Chester
Traction Co. ($500,000). all of which are deposited under the collateral
trust mortgages of the Wilmington S Chester Traction Co. Owns $50,000
c
stock of the Chester S Delaware Street Ry.; also owns $150,000 debenture
c
bonds of Front S Union St. Ry. and $45,000 1st M . bonds of Gordon Helgs
c
Railway. The Chester Traction Company holds all the stock of the
Union Railway Company, $100,000; Chester & Media stock, $35,000; Ches
ter Darby & Phila. stock, $65,000; total, $200,000. The Chester Trac. pays
as rental (besides int. on bonds) 6% on the $100,000 stock o f the Chaster S
c
Media and on the $100,000 stock ortho Chester Darhv S Philadelphia.
c
Fare Increase.— In Juno 1918 was auth. by the Del. P. U. Comm, to
chargo a 7-cent faro in Wilmington, 4 tickets to bo sold for 25 cents.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Stock $2,000,000 ($50) full p d- Listed on Phila. Ex $2,000,000 Dec'12,60cts
Coll trust gold
$4,000,000/ 1898 6 g A-O
2.305,000 April 1 1923
and $1,000 each) c*t\ Provident L ife* Trust Co., Phila., Trustee
teral trust
gold $ 5 ,-/ 1912 5%
551.000 April 1 1951
500,000 - - - .......... ....... t f ' Wilmington Trust C o.. Wllmiugton, Trusteo.
Securities of Subsidiary Lines—
Wilm City 1st M $600,000/ 1911
5 M-S
600,000 Sept 1 1951
($1.000)...................c » .n t flln t . at Eq. Guar. & Tr. Co.. Wilm., trustee
Chester Traction
1st mtge/ 1894 5 g M -N
250,000 May 1 1944
gold
$250,000...........c*tf lint. at Guar. Tr. S Safe Dep. Co., Phila.
c
Wilmlng & Edgemoor 1st MJ 1906
5 g J-D
400.000 June 1 1946
$400,000 ($1,000) g ..c * t f f Int. at Real Estate Title Ins. & Tr., Phila.,Tr
Leased to Chester Traction—
Union Ry Co 1st mtge g - c .t f 1913 5 g J-J
200.000 Jan l 1943
10 J-J
Chester St Ry stock ($50) - - t f ___
150.000 rental 10%
Chester & Media El Ry gold tf 1913 5 g J-J
100.000 July 1 1943
ChesterDarby S Phlla_. gold tf 1913 5 g J-J
c
125.000 July 1 1943
The Wilmington & Edgemoor bonds are guar, as to both principal and
Interest by the Wilmington City Ry.
Interest on Union R y., Chestor Street R y., Chester S Media payable
c
at Delaware County Trust Co., Chester, Pa., on Chester Darby S Phila.
c
Ry. Co., payable at Continental-Equitable Title S Trust Co., and interest
c
upon all the lattor guaranteed by Chester Traction Co.
Bonds.— $1,695,000 coll. tr. 5s of 1898 reserved to retire underlying securi
ties and guar, stock. They matured originally in April 1918 and bore int.
at 5% , but wero extended for 5 years at 6% . Red. at 101 and Int. on any
int. date. Are listed on tho Phila. Stock Exch. V. 106, p. 1902, 2012.
Of the coll. tr. of 1912, $4,000,000 aro reserved for liko unit, of coll. tr. of
1898. Wilm. City bonds aro subj. to call at 105 and inc. V. 93, p. 667.
The Cheater Trac. bonds were extended In 1914 for 30 years. V. 98. p.
1073, 1158.— V. 98, p. 1074; V. 106, p. 1902, 2012, 2451.
S
(2) W ilm in g to n C ity E le ctric C o .
Lease.— Vfas leased on July 1 1910 for 990 yrs. to tho Wilm. S Phila.
c
Trac. Co., the latter assuming all Int. & fixed charges of Wilm. City Elec.Co.
ORGANIZATION.— Incorp. In Delaware in 1895. Franchise perpetual.
Does an electric light and power business in Wilmington.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
S to c k ................................................ ..
.................
$255,000 ...................
First mtge $1,000,000 gold/ 1911
5 M-N
1,000.000 May 1 1951
($1,000) guar p & l - . . c « tflln t. at U. S. Mtge. & Tr. C o.. N. V., Trustee
Bonds are redeemable on and after M ay 1 1921. Guar., p. & I., by Wll. &
Phila. Trac. V. 92, p. 1441.— V. 94, p. 567.
(3) S o u th e rn
P e n n sy lv a n ia
T r a c t io n
C o.
ORGANIZATION.— Incorporated In Penn. In June 1910 with $10,000
stock, all owned by Wilm. S Phila. Trac. Co. I,eases for 990 years rrom
c
July 1 1910 Chester Trac. C o., Delaware County & Phila. Elec. Ry. and
Media Glen Riddle S Rockd. E. St. Ry. Co. at a minimum annual rental
c
of $71,990 to a maximum of $106,990 In 15 years. V. 98. p. 1073, 1158.
(a)
D elaw are C o u n t y & P h ila d e lp h ia E le ctric R y.
Lease.— On July 1 1910 leased for 990 years to Southorn Pennsylvania
Traction Co. at a rental of $40,000 per annum.
ORGANIZATION.— Incorporated May 11 1892. Completed from
Media, Pa., to Baltimore A v., Clifton II ts, In Jan. 1895; connects with
the Chestnut & Walnut Street cars of the Union Trac. system. In May the
United Power & Transportation Co. acquired the road, paying $166.66 per
share for the stock in Its 4% trust certificates secured by a duposlt of stock.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $500,000 authorized.......................................
$300,000
Soe text
First mortgage $64.000— n t f/ 1913
5 J-J
64,000 July 11943
Unt. at Cont.-Equit. Title S Tr. Co., Phila.
c
1st M . bonds matured July 1 1913. but wero extended for 30 years at 5 % .
DIVIDENDS.— Paid in dividends In 1899-1900. $36,000: In 1900-01.
$27,000; 1901 to 1908 incl., $21,000 per ann.; in 1909 and 1910, nono; In
1911. $21,000: in 1912. July, $15,000; nono since.
ROAD.— Owns 12 miles of track. Rails, 80-lb. T and girder.
F A IR M O U N T P A R K T R A N S P O R T A T IO N .
Sale and Reorganization.— The following plan was formulated and de
clared operative In Feb. 1915 as a majority of the stock was doposlted in
assent, and at the salo on June 22 1915 the property was purchased by the
reorganization committee for $58,000, subject to the 1st mtge. of $750,000.
Sale was confirmed on Dec. 13 1917 by Judge Thompson in the U. S. Dlst.
Court at Philadelphia.
A now company is to bo organized with S100.000 7% cum. (from Jan. I
1916) pref. stock (par $10) and $400,000 common stock (par $10). Tho
present first nit go. 5s, due 1937, are to bo undisturbed. Cash require
ments, about $70,000, aro to bo mot by a subscription of $3 50 per share
for each sharo deposited. (Subscriptions largely exceeded tho amount
S ept ., 1918.]
anticipated and payments were reduced to $3 per share). Subscribers will
receive for each $10 so paid one share ($10) of new pref. and five shares
($50) of uew common stock. The new stock may bo transferred to voting
trustees (in exchange for voting trust certificates) for not over 5 years,
trustees to have power to sell all but not a part thereof at not less than par.
April 1 1916 and subsequent interest on bonds paid at che rate of 4%
per ann. In Sept. 1916 the Fairmounc Park Transit Co. was incorporated
in Dela. as successor company, but in Sept. 1918 the old company was still
in hands of receiver.
ORGAN IZATION .— A New Jersey corporation formed in 1894. Char
ter perpetual; license from Park Commission runs until July 24 1939 and re
nowablu (unless 1 year's notice is given) for 10-year periods. Park Commis
sion may, at expiration of license, purchase property at its cash coat, or at
end of 35 years from opening o f road at its then value plus 50% . or at cost
plus additions and Improvements. Owns an electric railway in Falrmount
Park. From N ov. 30 to May 1 operation Is optional. Owns Woodside
Park,opened N ov. 1896.
BONDS—
Date.
Interest. Outstanding. Maturity.
First mortgage $750,000 gold/ 1912
5 A-O
$750,000 April 1 1937
($1,000) __________ c*ntf\Glrard Trust C o., Philadelphia, Trustee.
Bonds.— 1st mtge. bonds aro callable at 105 and int. on any Int. day on
60 days’ notice. Cum. sinking fund. $13,000 per annum, beginning Oct
1918. bonds to draw interest for the fund. V. 95. p. 480.
HOAD.— 9.82 miles of track in West Park and East Park: crosses Schuyl
kill River on a steel bridge. Ralls are 90 lbs. 10 closed, 50 open cars.
REPORT.— For 12 mos. end. July 31 1918 and years end. Oct. 31:
Year—
Oross.
Net.
Charges. <*ic.
Deficit.
1917-18----------- $127,045
$36,917
$46,790
$9,873
1916-17_______ 107,790
28,129
46,742
18,613
1915-10----------- 121,469
47,975
48,759
784
— V. 100, p. 642, 733, 1672,1832,2166; V. 101, p. 1188; V. 105, p.2455.
PHILADELPHIA & WEST CHESTER TRACTION CO.
ORGANIZATION.— Chartered In Pennsylvania on April 24 1895. M u
nicipal franchises are perpetual. In 1898 acquired control of the Phil*. &
West Chester Turnpike Road C o., which in turn controlled the Delaware
County Passenger HR. Also controls the Phlla. Castle Rock & West Ches
ter Passenger R y. Co. In Jan. 1902 leased the Ardmore & Llanerch St.
Ily., a line between the points named, 3 1-4 miles; it has no bonds or other
debt. Rental is 5% on the outstanding stock ($400,090 auth., $383,350
outstanding) and payment of taxes and organization expenses. Leases
the Philadelphia & Garrettford St. Ry. (which it also controls) at 5% on
funded debt and $500 per annum for salaries and organization expenses.
In Jan. 1912 increased authorized stock from $1,000,000 to 31.400,000.
In Sept. 1918 wo were informed that the $400,000 1st M . 5s duo Oct. 1
1918 would bo paid off at maturity. V. 107, p. 1193.
STOCK AND BONDS— Date.
Interest. Outstanding. Last div., Ac
Stock $1,400,000 (par $50)...............
A-O
$1,148,900 Apr’ 18,3
5 g J-J
400.000 Oct l i 9 _ _
1st M $400,000 gold subject 1898
to call at 105 ($ 1.000)..ctf Int. at Girard Trust C o.. Phlla., Trustee.
4gJJ
534.000 Jan 11954
Mtge bonds $1,000,006 gold 1904
(3 1,00 0)____________ c*tf Int. at West End Tr. Co., Phlla., Trustee.
5 g F-A
1.965.000 Aug 11955
Phlla & Gar 1st M $3,000,000 1905
gold ($1.000)................ ctf Int. at West End Trust Co., Phila.. Trustee
Bonds.“ $466,000 of tho 4s of 1904 are reserved to retire $400,000 IstM
bonds. Bonds of either issue can be called at any time at 105 and int.: no
sink. fd. The remaining Phila. & Gar. bonds are reservod for future re
quirements; red. at 105 & int. on any int. day.
REPORT.— Year ending Dec. 31:
Dec. 31.
Oross
Net
Other
Interest,
Surplus
Year—
Earnings.
Earnings.
Income. Rentals, &c. for Year.
1917...............$582,070
$269,998
$26,341
$188,552
$107,787
248,967
27.109
180,674
95,402
1916.............. 541.326
ROAD.— Operates 50.56 miles o f track from 63d and Market streets
Philadelphia, to West Chester, of which 24.45 miles is leased. An extension
from Drexel Hill to Media. 6.51 miles, was placed in operation in April 1913.
Gauge. 5 ft. 2H In.; 58, 60. 70 and 80-lb. T rail. 43 cars.
OFFICERS.— Pres., A. Merritt Taylor. Phila.; V.-P., H. H. Aikons;
Treas., C. L. Rihl. Office. Upper Darby, Del. Co., Pa. V. 94, p. 352:
V. 98, p. 237; V. 106, p. 397; V. 107, p. 1193.
PHILADELPHIA RAPID TRAN SIT.—Controlled by the Stotesbury
Interests.
Ineoniorated 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 o f other corporations. (For terms o f lease, see Union 'Fraction be
low.) The Rapid Transit Co. acquired numerous franchises for new roads
obtained by the Mack-Foerderer syndicate In 1901. In June 1903 the Mar
ket St. IOlev. Pass. Ry., with $5,600,000 authorized capital stock, was
formed to absorb a number of these franchises. V. 76, p. 1301. In June
1903 the Rapid Transit Co. obtained from the Philadelphia City Councils
other valuable franchises for new lines. In April 1906, however, an agree
ment was entored Into with the city relinquishing nearly all the rights to tho
franchises o f 1901 and 1903 and the whole matter of the company's fran
chise rights was readjusted on a now basis. See V. 82, p. 693, 870.
Subway has been built in Markot St. from 23d St. to Delaware Ave..
elevated structure on Market St. west of tho Schuylkill River, and on Dela
ware Ave. from Market St. to South St. V. 74. p. 528, 989; V. 76. p. 1301;
V. 81, p. 265. In March 1907 began operating on that portion of the eiovatod from the Schuylkill River west to tho Upper Darby terminal station,
a distance or about 4 miles. V. 84, p. 571. On Aug. 3 1908 tho entiro
subway from 2d St. to 23rd and Market St. was placed in operation, thus
completing lino through to 69th St. V. 87, p. 347. On Oct. 6 1908 ele
vated lino on Delaware Ave. to South St. Station was placed in .operation,
completing entire line. V. 87. p. 936.
In July 1902 acquired all the stock of tho Doylestown & Willow Grove
Ry. Co. Also owns entire stock ($10,000) of the Real Estate Holding Co.,
which owns property of an assessed value of $1,675,320.
On July 1 1906 the Phila. Morton & Swarthmoro Ry. and the Media Mid
dletown Aston & Chester Elec. Ry. were consolidated, forming the Darby
Media & Choster R y. The new company, embracing 25 miles of track, was
thereupon leased to the Phlla. Rapid Transit Co. for 999 years, rental being
$8,500 for first year. $17,000 for second and third years, $25,500 for fourth
year. $34,000 for fifth year and $42,500 for sixth year ami thereafter.
Wage Schedules.— In 1911 a plan was adopted looking to a lasting peace
between the company and men. 22% o f grass passenger earnings to be sot
apart for wages and wage scale to be Increased as rapidly as passible within
that limit. See plan In V. 93, p. 590; also V. 97, p. 238. See under “ Fares
— Wages” below.
Adjustment of Relations With City.— On Feb. 18 1907 the board o f directtors accepted the plan submitted Jan. 1907 by the Retail Merchants’ Asso
ciation o f Philadelphia for a readjustment o f tho 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 has
the right to assign or sell this option. Furthermore, a sinking fund Is to be
established, to bo taken out of the gross receipts of tho company,which,
calculated at 4% , will amount to at least $30,000,000 at the expiration of
60 years, to enable the city to acquire the property at that time. Another
featuro In tho arrangement Is that, beginning with Jan. 1 1907. the city
shares equally In the net profits after stockholders have received lawful
Interest on tho capital Invested by them. All franchises for further surfaco.
elevated or underground railroads within the city are to be first offered the
Phlla. Rapid Transit Co. under terms of this contract. The city Is also to
have three members on tho board o f directors. Tho present rateof faro Is
not to be changed except with the consent of both parties. As part of tho
arrangement, the Rapid Transit Co. awreed to call tho $12,000,000 then still
duo on Its stock at the rate of $3,000,000 every six months, tho 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
passod by the Phlla. City Council on Juno 20 1907 (V. 84, p. 1488) and rati
fied by the company July 18 1907. On Feb. 27 1911 State Supreme Court
affirmed tho decision (V. 89. p. 847) of the Common Ploas Court sustaining
the company’s demurrer in a suit brought to test the validity o f the fore
going ordinance. V. 92, p. 596. On July 29 1907 directors called for pay
ment of the final assessment of $15 a share on stock, payable In two Install
ments— $7 50 Sept. 9 1907 and $7 50 Sept. 7 1908. V. 85. p. 284, 1402.
For now leaso ordinanco see below.
In Oct. 1908 stockholders of Union Trac. Co. and tho Phila. Trac. Co.
approved the use o f securities owned by them as security for a new loan,
and the $5,000,000 coll, trust mtgo. shown below was thereupon author
ized. V. 86. p. 1530; V. 87. p- 740, 813, 1161.
On June 20 1910 the stockholders voted to discontinue the Insur
ance fund valued at over $1,750,000, and to pledge or sell the securities In
said fund, applying the proceeds to general purposes o f tho company; also
to sell the rolling stock o f the company to the Union Trac. Co. for $1,500,
000, taking lease o f same for 10 years at rental of $150,000 a year and int..
95
ELECTRIC RAILWAYS
with right to re-purchase equipment at the end of 10 years for $1. This
lease was made basis of a $1.500,000 issue o f car trusts by Union Trac. Co.
V. 90. p. 1426. 1555. 1677; V. 91. p. 337.
On Feb. 28 1911 shareholders of both the Phlla. Rap. Trans. Co. and the
Union Trac. Co. approved a plan (V. 92, p. 463) in accordance with the views
of Mr. E. T . Stotesbury, who consented on such conditions to enter the
Phlla. Rap. Trans, board, calling for the Issue of $10,000,000 s. f. bonds
running for life of city contract, guar. p. & 1. by the Union Trac. Co. and
secured by pledge of equity in Market St. Elev. Pass. Ry. (V. 91, p. 1629)
over and above present $10,000,000 mtge. on said property. V. 92, p. 596.
On Feb. 29 1912 directors of both the Phila. Rap. Trans, and Union Trac.
Co. authorized the mtge. V. 94, p. 631. As part of the plan, every
equity owned by Phila. Rapid Trans. Co. Is surrendered to Union Trac.
Co. See V. 91. p. 1161, 1386, 1574. 1630. 1711. The City Council
assented to the arrangement in May 1911. V. 92, p. 1375,1500.
Subway and Elevated Lines to Be Built by the City and Operated by the
Company.— At an election held April 29 1915 the electors voted in favor
of a $6,000,000 loan for a Broad Street subway and a Frankford elevated
line (V. lOO, p. 1511). and on July 1 1915 the ordinances making equal
appropriations for both projects were signed by Mayor Biankenburg.
Construction was begun September 11 1915. V. 101, p. 132, 774, 1371.
At the election on May 16 1916 it was voted to issue $57,100,000 bonds
for additional subway and elevated lines. In accordance with the pro
gram of former City Director of Transit A. Merritt Taylor, as outlined
in V. 102, p. 2342. The Stern bill, rendering valid the election of May 16
1916, was passed by the Penn. House of Representatives in April 1917.
V. 104, p. 1703. On July 7 1917 tho taxpayer’s suit to restrain the city
from proceeding with construction of the new high speed lines was dismissed
by Common Pleas Court No. 4. On July 23 1917 the Pennsylvania P. S.
Comm, granted the Philadelphia city authorities permission to construct
all of the lines contemplated in said program. [The cost of the amplified
system, based on structural steel ana labor costs current in the early part
of 1917, is estimated at approximately $100,000,000.
In June 1918
Govt, sanction to proceed with the construction of the Frankford elevated
system was given with the understanding that the work in connection with
the Broad St. subway (with certain exceptions) be stopped as promptly
as possible. V. 106,, p. 2451.
Lease Approved.— On Jan. 3 1918 Mayor Smith signed the ordinance pro
viding for the lease of the projected city-built high-speed lines to the com
pany for operation In conjunction with its own lines as one system. The
stockholders on Feb. 8 1918 approved the lease and on Fob. 18 it was signed
by the Mayor and the Pres, of the co. It is now before the P. S.
Commission for final sanction. The modified lease provides in the main
as follows:
(a) The company to pay as rental for the use of the city’s lines an amount
equal to the int. and sinking fund charges on the bonds issued by the city
to construct the lines.
(b) The following payments are to be made in the order named from the
total revenue of the United system: (1) All expenses of operation and main
tenance: (2) taxes of all kinds; (3) fixed charges and rentals of the co.; (4)
Int. and sink, fund payments on securities of the co. issued to provide for
extensions to ita own lines and equipment for the city’s lines; (5) paymets
to reserve, depreciation and contingency funds necessary for the unified
system (6) payments due the city under the 1907 contract; (7) payments
to the city and the co. in proportion to the relative investment of each,
equal to a return of 5% P- a. on such investment. Tho company's invest
ment is fixed at the amount of its stock now auth. and issued, $30,000,000.
This Insures cumulative divs. at the rate of 5% p. a. on tho co.’s stock.
During the life of the contract this rate is not to be exceeded on present
issue of stock. (8) Payments to the city equal to the difference between
the payments to the city under Item 7 and the gross amount of the interest
and sinking fund charges upon the city’s investment. All balances re
maining after tho payment of the aforesaid items shall be credited to
surplus. Items 1 to 5, inclusive, shall be cumulative in the order named.
Deficits in Items 6, 7 and 8, however, shall not be made up until all current
payments in any year shall have been made and the company’s initial sur
plus (as at date of contract) restored. Thereafter any deficits in Item 7
shall be made up before deficits in Items 6 or 8.
(c) At the beginning the faro to be 5 cents. Within 60 days after con
tract becomes effective, exchange tickets shall be abolished outside of the
so-called “ Delivery District,” and universal free transfers shall be sub
stituted therefor. On the opening of the first operating section of the
Frankford lino, the exchange tickets inside the delivery district are to be
abolished and free transfers substituted.
(d) Whenever there is a shortage of current net revenue for the payments
under (&), and tho new surplus shall have been exhausted and the initial
surplus depleted to the extent or $500,000, within thirty days thereafter
the Supervising Board shall prepare and file with the P. S. Commission a
schedulo of fares and charges which, in its opinion, will produce gross revenue
sufficient to meet such payments, and make up within a reasonable time
the initial surplus and any deficit in payments of the various items in former
years.
(e) Service and operation of the unified system to be controlled by a
board o f supervising engineers, with three members, one appointed by the
city, one by the company, and the third jointly by the Mayor and President
of the company, which will also arbitrate any question arising between the
city and the company under the contract.
If) The term of the lease will expire on July 1 1957. As under the 1907
contract, the city may, on and after July 1 1957, purchase all of the com
pany’s property at tho par value of its capital stock outstanding. In addi
tion, between July 1 1927 and July 1 1957 the city may purchase the prop
erty by paying a like amount, plus any shortage of divs. on the stock now
outstanding below 5% for each year from the date of the lease to the date
of purchase. For further details, see V. 105, p. 819, 2366; V. 106, p. 86.
Power Contract.— In M arch 1912 entered into a 10-year contract with the
Phila. E lectric C o. for additional power.
V. «4 . p. 708.
Voting Trust.— The voting trust established in Feb. 1911 for 5 years was
extended in 1916 for a further period of 5 years to Feb. 20 1921. The
trustees are Arthur E. Newbold, Geo. H. McFadden and William P. Gest.
V. 92, p. 660, 726, 882. 1243, 1500; V. 95, p. 1608; V. 102, p. 523. 1347.
New Line.— In Sept. 1911 the Snyder Ave. St. R y. was chartered In the
Interest of the Phlla. Rap. Tran., with $140,000 stock, to operate 7.66 miles
of line on Snyder Ave. Line was placed in operation Jan. 1912.
Hog Island Extension.— In June 1918, in accordance with a contract with
tho Emergency Fleet Corp., the co. placed in operation an extension from
Eastwick Ave. to the Hog Island Shipyard. The Fleet Corporation
advanced tho funds to the company to cover the cost of the new construc
tion and equipment [100 new cars), and at the close of the war this property
will be taken over by the P. R. T . Co. at the appraised value for operation.
Faros to be charged will be fixed by the P. S. Comm. V. 106, p. 1345, 2758.
Excise Tax.— On Aug. 2 1915 Judge Dickinson in the U. S. DIst. Court
held that the company's subsidiaries operated under lease were not carrying
on business within the meaning of the excise tax law of 1909 and therefore
were not liable to the fax. On Oct. 22 1917 che Market Street Elevated
Pass. R y., the Union Traction Co, and the Philadelphia Trattion Co. ap
pealed to the U. S. DIst. Court for restitution of $73,768 and interest col
lected from them in the years 1911 and 1912.
Tax Litigation.— On July 15 1918 the various leased line cos. filed 14
suits against the Phila. Rap. Tran. Co. to recover income and excess profits
taxes paid by them under protest. V. 107, p. 402. Compare V. 106,
p. 2451.
Fares— Wages.— In M ay 1918 applied to tho City Council for authority
to increase fares in Phila. to 6 cents, so that tho co. may advance the wages
of carmen 5 cents an hour. V. 106, p. 2011, 2230. Effective M ay 16
1918 the wages of all employees were increased 2 cents per hour, the re
maining 3 cents of the promised increase being put Into effect in July 1918.
V. 107, p. 292. Compare V. 106, p. 2346. On Aug. 4 1918 further
increases of from 5 to 9 cents per hour were granted so that co.’s wage
scale would equal maximum fixed by War Labor Board in other cities.
V. 107, p. 604. 803, 906. In Sept. 1918 the co. notified the P. S. Comm,
that no increase in the base rate of 5 cents would be asked for until after
Jan. 1 1919, although before that time the co. may submit a plan providing
for an additional charge for longer riders. V. 107, p. 1101.
Rate Increase.— In June 1918 filed new tarrifs, effective June 20 1918,
with the Penn. P. S. Comm., providing for increased freight, milk and
joint tariff rates with other companies. V. 106, p. 2758.
New Rolling Stock, A c.— On Aug. 6 1918 the co. announced that it had
contracted for new rolling stock, &c., to cost about $6,000,000. The co.
is negotiating with the Govt, for a loan of $4,000,000, the remaining $2,
000,000 of the funds necessary for these impts. to be taken from tho renewal
fund. V. 107, p. 604.
Government Loan.— In Sept. 1918 the Penn. P. S. Comm, approved a
contract by which the Government will lend the co. $1,748,000 to extend
transit facilities for workers In industrial war plants. V. 107, p. 1101.
ELECTRIC RAILWAYS
96
STOCK AND BONDS—
Date.
Stock $30,000,000 ($50)____ ..........
Outstanding. Maturity.
(600,000 sli\ July 1918.
1 Full paid/
$1.25
Coll trust mtge $5,000,000/ 1908
5 g F-A
$4,758,000 Feb 1 1957
($1,000) gold_______c * cp t/ln t. at Penn. Co. for Ins. on Lives & Granting
1 Annuities, Philadelphia. Trustee.
Sink, fund mtge. $10,000,0001 1912 5 g M-S
7,785,000 Mar 1 1962
g ($1,000) guarp S L c* cp t/In t. at Comm’l Trust C o., Phlla., Trustee.
c
Market St El 1st mtge $10,-1 1905
4 g M -N
10.000,000 M ay 1 1955
000,000 gu g ($1,000) c* cp tf Int. at Lana Title & Trust C o., Phlla., Trus.
Darby Media S Chos 1st M l 1906
c
4>4 g J-J
991,000 July 1 1936
$1,500,000 ($1,000) g c c p t/In t. at Land Title S Trust C o., Phlla., Trus.
c
Car trust certfs, $ 1,500,000,( 1910 J-J
300,000 July 1 1920
Series “ A ” ___________ cptjCom m er. Trust C o., Phlla. Trustee.
Car trust certfs.. $4,200,0001 1913 5 M-S
2,275.000 Mar 1 1925
Series ‘ ‘B ’’ ___________ cpt/FIdellty Trust C o., Phlla.. Trustee.
Car trust certfs, $1,944,000,1 1913 5 g M -N
1.134,000 May 1 1923
Series “ C ” ___________ cpt/FIdellty Trust C o., Philadelphia, Trustee.
Bonds, mortgages, ground rents, &c., as of June 30 1917 amounted to
$81,092,475, against $81,653,216 in 1916.
Stock was listed on the Phlla. Stock Exchange In July 1902 and In Feb.
1905 on N. Y. Stock Exchange. Voting trust certfs. have been llstod on
Phlla. Stock Exch. V. 95, p. 1608: V. 103, p. 759: V. 104, p. 164, 1146Bonds.— Collateral trust bonds are secured by deposit with trustee of
securities owned by Phlla. Rapid Transit and also securities o f Union Trac.
Co. and Phlla. Trac. Co.: entire Issue subject to call at 105 on 6 weeks' pub
lished notice on and after Fob. 1 1912. A sinking fund, which will re
tire all bonds by Feb. 1 1957. began to operate Feb. 1 1912. The Market
Street Elevated Ry. bonds cover the subway and the elevated road on
Market St. See V. 80, p- 652. They are guaranteed, principal and
Interest, by endorsement by the Phlla. Rapid Transit Co. Are subject
to call on any int. date at 102 'A and Int. V. 84, p. 749: V. 8 6 , p. 547.
The Darby Media A Chester Street Ry. bonds are guar., p. & I., by endorsem’ t by Phlla. Rap. Tr. Co. Can be called at 102>4 A int.
Both the collateral trust bonds and Market Street Elevated bonds were
listed on the Philadelphia Stock Exchange In April 1909. V. 8 8 , p. 945.
Tho sinking fund mortgage bonds of 1912 are callable on any March 1
as a whole or for sinking fund at 105 and interest. Cumulative sinking
fund o f $35,000 per annum began Jan. 15 1917. Of the $10,000,000
authorized $7,785,000 aro outstanding.$580,000 are held in ronowal fund,
$1,600,000 are in company's treasury and $35,000 have been retired.
Bonds aro guar., p. & L, by Union Traction Co. V. 94, p. 827, 699. There
are also $750,000 certificates of participation in the company’s treasury,
representing $882,000 P. R . T . bonds of 1912.
Car Trusts.— The series “ A ” car trusts mature $75,000 semi-annually
(J.-J.). The Ser. “ B ” mature 5175,000 s.-a. bog. Sept. 1 1913 and ending
Mar. 1 1925. Red. at 102(4 and Int. Series “ O” mature $81,000 a.-u
from Nov. 1 1913 to May 1 1925. Red. at 102(4 and Int. and are secured
by 500 new cars.
Dividends.— An Initial div. o f $1 per share was paid In Oct. 1916. In
1917, $2 50 per sharo. In 1918, $2 50 per share.
ROAD.— Total trackage June 30 1917, including all lines leased and
operated, 661.146 milos. Owns about 3,325 cars of all kinds.
ANNUAL R E PO RT.— Fiscal year ends June 30. Annual report for
1916-17 was given in V. 105, p. 386. Earnings statement for 1917-18
year in V. 107, p. 906.
1 9 1 7 -1 8 .
1 9 1 6 -1 7 .
$
$
P a s s , e a r n in g s 2 9 , 3 1 8 , 1 3 8 2 7 ,5 0 4 ,0 4 1
O t h e r r e c e ip t s 1 ,1 2 5 ,8 1 3
1 ,0 -1 9 ,5 7 4
Interest.
J-J
T a x e s --------------
1 9 1 7 -1 8 .
8
1 , 8 4 5 ,4 5 5
1 9 1 6 -1 7 .
$
1 ,3 9 8 ,4 1 3
Total e x p ..18,582,581 10,004,171
T o t a l _____30,443,951 28,553,614 Net earnings. 11,861,370 12,549,443
I n t e r e s t ______
2 ,2 6 8 ,4 9 2
2 ,2 8 0 ,1 8 0
M tce.&renew.*4,566,592 *4,283,042 R e n t a l s _______ a 7 , 4 8 5 ,8 9 1 a 7 ,4 8 5 ,3 9 3
Op.of pow.pl’t 2,576,845 1,694,151 D i v s . ( 5 % ) - . . 1 ,4 9 9 ,5 8 3 1 , 4 9 9 ,2 7 8
Oper. of cars. 7,843,021 7,129,739
607,404 1,284,592
General______ 1,750,668 1,498,826 Surplus______
* Maintenance and renewals in 1917-18 includo amount expended, $3,
544,220, against $2,712,121 in 1916-17, and unexpended balance, $1,022,
372, against $1,570,921. a Includes $120,000 sinking fund (city contract).
OFFICERS.— Chairman of Board, E. T . Stotesbury; Pres., T . E. M it
ten; V.-P., R. B. Hamilton: Sec. & Treas., R . B. Selfridge; Asst. Sec. &
Asst. Treas., W. C. Dunbar: Asst. Treas’rs. W. J. Shields and G. W. Davis:
Aud., E. L. Austin.— V. 106, p. 2230, 2346, 2451, 2758: V. 107, p. 292,
402, 604, 803, 906, 1101,
(1) Doylestown & W illow Qrove Ry. C o.— 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.
STOCK AND BONDS— Date.
Interest. Outstanding. Alaturity.
Stock $500,000 ($50)...........- ................................
$500,000 __________
First mtge $500,000 ($1,000)1 1900
4 g J-D
500,000 June 1 1930
gold guaranteed_ c* .cp t/L a n d Title & Trust C o., Phlla., Trustee.
_
ROAD.— Trackago, 13.636 miles, from Doylestown to Willow Grove,
running over the old turnpike between those places, which Is leased for 999
years.
EARNINGS.— Included In Phlla. Rapid Transit Co.— V. 79. p. 1331.
(2) Tw enty-Second Street & A llegheny Avenue Passenger Rv.
ORGANIZATION.— Formed in 1903 and merged the old Twenty-second
St. & Allegheny Ave. Passenger Ry. Co. (chartered 1890), the Fairmount &
Frankfort Ry. C o., Fisher’s Lane Ry. C o., Llndley Ave. R y. C o., Chelton
Ave. Pass. Ry. C o., Germantown S Fairmount Ry. Co. and the Phlla. &
c
Trenton Rapid Transit St. Ry. Co. Is leased to the Phlla. Rapid Transit
Co. for 6 % per annum on paid-in capital.
STOCK.— Auth. amount, $1,302,000 ($50): 22,456 shares outstanding.
$25 paid in. Due lessee, June 30 1917, $561,400.
ROAD.— Trackage 65.328 miles.
(3) Darby & Yeadon Street Railway.
ORGANIZATION.— Entire stock ($5,000) is owned by tho Philadelphia
Rapid Transit Co.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock all owned by Philadelphia Rapid Transit Co.
First mortgage $200,000 gold! 1904
4H g J-D
$200,000 Dec 1 1934
guar ($1.000)______c * .c p t fln t . at Land Title S Tr. C o., Phlla.. Trustee.
c
Bonds.— Are guaranteed, prin. S Int., by endorsement by tho Phlla. Rap
c
Transit Co. Are subject to call on any Interest date at 105 and Interest.
ROAD.— From the Philadelphia County line to Darby, 2.498 miles.
(4) Chester & Philadelphia Railway (Chester Short Line).
Is operated by Phlla. R. T . under 30 year agreement dated Feb. 14 1911
ORGANIZATION.— Incorp. In Penn, on June 2 9 '1910 as successor to
the Phlla. & Chester R y., sold at foreclosure (V. 92. p. 1243). In considera
tion of an agreement to operate the lino the Phlla. Rapid Transit received
51% of Chester & Phlla. stock. The Chester Sc Phila. receives 35% and
Rapid Transit 65% of gross earnings, for which the Rapid Transit assumes
all costs of operation. The 35% to be applied to Int. on bonds and divs.
on stock. Franchises aro unlimited as to time.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $485,000 ($50).............................................
$485,000 ...................
1st M $600,000 gold ($100.-1 1910
5 g J-J
600.000 July 1 1940
$500 and $1,000)___ c * -t f Jlnt. at Real Est. T it. Ins.&Tr.Oo..Phlla..Tr.
Bonds.— Red. on any Int. date at 105 and int. on four weeks’ notice.
Free from Penn. State tax. Sinking fund of one-half the surplus oarnlngs
over 4 % on tho stock shall either purchase and retire bonds or ho used for
new construction. V. 104, p. 763. Listed on Philadelphia Stock Exch.
EARNINGS.— For years ending Dec. 31:
C a len d a r
G ross
R e n ta l
O th er
Total
Interest, Balance,
Y ea r—
E a r n in g s .
(35% ). R e d s .
Receipts. Taxes,Ac. Surplus.
1916..................... $347,199 $121,520 $604
$122,124 $36,906 $85,218
1915..................... 144,058
50,420
320
_____
______
50,740
33,918
16,821
ROAD.— 15.2 miles o f track, including main lino from Chester to Phlla.,
and branches from ’ Esslngton to Moore Station and Esslngton to Phlla.—
V. 92, p. 1310: V. 104, p. 763.
___
UNION TR ACTION .— A trolley road.
Lease.— Tho Union Traction Co. has boon leased for 999 years from July 1
1902 to the Philadelphia Rapid Transit Co. Lease rental (payable In
old) Is $900,000 per annum (equal to 3% on the face value of tho $30,000
00 stock) for tho 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 yoars and $1,800,000 per annum (equal to 8 % on stock)
thereafter. The stockholders of tho Unton Traction Co. wero given the
right to purchase 150,000 shares of the new Rapid Transit Co. stock. V.
74. p. 989. Included at the time all the leading street passenger railway
lines within the city of Philadelphia.
g
[Vol. 107
ORGANIZATION.— Chartered Sept. 13 1895, and acquired on or about
Oct. 1 1895 ail 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 tho Phila
delphia Traction at 8 % on its capital stock. V. 61, p. 663. Leases (from
Jan. 1 1898) Hestonville Mantua & Fairmount Passonger Ry. for 999 years
at 6 % on prof, and 4% on com. stock. See V. 6 6 , p. 236. The Lohlgh
Avo. R y . Co. ($1,000,000 stock) was also leased for 999 yoars from July 1
1899. See terms of consolidation, &c.. In statements for the constituent
companies and V. 61. p. 152,197,283, 663. For change In terms of lease see
V. 89, p. 594. The Philadelphia Rapid Transit now operates tho road.
Also owns entire stock of tho Philadelphia Sc Willow Grove Ry. Co.
Union Traction shareholders In Oct. 1908 gave their assent to the use of
certain securities owned by the Union Trac. Co. to bo pledged as collateral
for the $5,000,000 loan of the Phila. Rapid Transit Co. V. 87, p. 1110.
The shareholders voted June 20 1910 (formally ratified Sept. 21 1916:
V. 91, p. 337) to purchase the equipment of the Phila. Rapid Transit, and
lease same to that company on terms as stated under Phila. Rapid Transit,
and make the equipment the basis o f an Issue of $1,500,000 car trusts. On
Feb. 26 1913 they voted to purchase additional equipment and lease It
to the Philadelphia Rapid Transit Co. and to Issue $4,200,000 car trust
certlfs. (Ser. B) as a result of the transaction. In M ay 1913 a further Issue
of $1,944,000 car trusts (Ser. C) was put out. See under Phlla. Rapid
Transit and V. 96, p. 555. and V. 97, p. 803.
On Feb. 28 1911 shareholders voted to guarantee new Phlla. Rapid Trans.
$10,000,000 mtgo. See under that company and V. 91. p. 1575: V. 92
p. 324, 463. 596.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
J-J
/600.000shs.I July’ 18, 3%
Stock $30,000,000 (par $ 5 0 ) - / -----l
\$17.50pd.ln)
Trust Co certificates, gold,/ 1895
4 g A-O $29,730,114 Rod. after
guar., p. & 1 by Union/
Oct 1 1945
Trust C o------------------- c p t/In t. at Pa. Co. for Ins. on Lives & Granting
l Annuities, Trustee.
Collateral trust first mortgagol 1902
4 g J-J
1.291,000 July 1 1952
$1,600,000 gold-----------cpt/L and Title & Trust C o.. Philadelphia. Trus.
Trust Certificates.— The trust certificates are not the direct obligations
of the Union Traction C o., but were Issued by the Pa. Co. for Ins on Lives
& Granting Annuities, to pay for the shares of the Electric and People’s Trac
tion companies purchased and are secured by a deposit with tho Trust Co.
of all the shares of the stock of the Electric Traction Co. and the People’s
Traction Co. thus acqulrod. See description of certificates In V. 64, p. 135.
They are guar., prln. and Int., by the Union Traction C o., and are redeem
able at tho option of that company on and aftor Oct. 1 1945.
Collateral Trust Bonds.— The collateral trust bonds were Issued to fund
the floating debt and are secured by the deposit of tho 35,000 shares of tho
common stock of the Hestonville Mantua S Fairmount Pass. RR. Subject
c
to call at 105 and accrued int.: $209,000 has been retired by sinking fund.
OFFICERS.— Pres., Jeremiah J. Sullivan; 1st V .-P ., Ohas. E. Heed'
Sec. S Treas., W. J. Shields.— V. 99. p 818; V. 103, p. 1120. 1302.
c
LINES CONTROLLED BY UNION TRACTION CO.
(1) C atharine & Balnbrldge Streets R y.— A trolley road.
ORGANIZATION.— Incorporated May 14 1889. and leased to the Phila
delphia Traction Co. Mar. 1 1890 for 99 yoars, and Included in lease of that
company to tho Union Traction Co. Oct. 1 1895; in Sept. 1895 term of lease
was increased from 99 to 999 years and stock from $150,000 to $400,000
(all owned by Phila. Trac. Co.); rental Is $24,000 yearly, besldos Interest
and taxes.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock (par $50)..................................
6 % M-S
$400,000 See text
1st M $150,000 ($1,000) c -c p t 1890
5% A-O
150,000 April 1 1920
Due lessee July 1 1917----------------------------234,698 __________
Bonds are not subject to call. Interest at Land T . S T . C o., trustee.
c
Penn. Co. for Insurances on Lives, &c.
Dividends.— Dividends of 6 % are paid.
ROAD.— The road aggregates 5.485 miles of track.
(2) C itizens' Passenger Railway.
ORGANIZATION.— Incorporated Mar. 25 1858. Leasod to Frankford
S Southwark Passongor Railway Co. April l 1892 for 999 yoars: rental
c
now $140,000 per annum, equal to 28% on stock, or $14 por $50 sharo.
This leaso was assumed by tho Electric Traction Co. July l 1893. Oporatod
by Philadelphia Rapid Transit Co.
Stock authorized, $500,000 (par $50); paid in, $192,500— $20 on 8,500
shares and $15 on 1,500 shares. Road, Columbia Avenue to Mifflin
Street, 11.447 miles of track.
(3) C ontinental Passenger Railw ay.— A trolley road.
ORGANIZATION.— Incorporated Sept. 3 1873. I,eased Jan. 1 1880
to Union Passongor Railway Co. for 99 years at rental of $ 6 por share
per annum, Interest, taxes and operating expenses; loaso assigned to Phila
delphia Traction Co. June 30 1884. Operated by Phila. Rapid Transit Co.
Stocks owned, per balanco sheet July 1 1917, $600,000.
STOCK AND BONDS— Date.
Interest. Outstanding
Maturity.
Stock (par $50)...................................
$ 6 J-J
j 20,000 shs., 1
\$29 paid In./ Soe text.
First mortgage ($500 andl 1879
4 g J-J
$280,000 July 1 1959
$1,000) gold_________ c&r| Land Tltlo & Trust C o., Phila., trustee.
Duo lessee for additions July 1 1917, $672,260.
Bonds were originally 6 % , but In 1909 wero extended for 50 years at 4 % .
Int. payable at office of company. Not subject to call. Bonds woro listed
In 1909 on Phila. Stock Exch.
V. 6 8 , p. 822.
Trackago, 11.41 milos;
V. 106, p. 924.
(4) Electric T ra ction .
ORGANIZATION.— Incorporated M ay 8 1893 and acqulrod control of
tho Citizens’ Passonger Ry., tho Frankford & Southwark Passongor Ry.
and the Second S Third Streets Passonger R y. On July 1 1896 leased for
c
999 voars tho CItizons’ Clearfiold S Cambria St. R y., tho Citlzons’ East End
c
St. RY.. ttho Brown & Parrish St.. Ry. and the Citizens’ North End St. Ry.
In 1895 the Union Traction Co. acquired all the stock at tho rate of
$85 per share for each share, on which $50 had boon paid, and $70 por
sharo for each share on which $30 had been paid, the Pennsylvania Co. for
Insurances on Lives S Granting Annuities Issuing thorofor Its guaranteed
c
trust certificates. On July 1 1896 tho Union Traction Co. leased tho
property for 998 years and 3 months. Soe V. 61, p. 197, and also “ Union
Traction.”
Stock authorized, 175,000 shares of $50 each; Issued, 152,396 shares of
$50 pakl and 22,604 sharos of $30 paid, making total $8,297,920.
ROAD.— Mileage. 129.855 milos. Rail. 90 lbs.— V. 03. p. 557.
(5) Empire Passenger Railw ay.— A trolloy road.
ORGANIZATION.— Incorporated Feb. 10 1869. Loasod Doc. 26 1873
to Citizens’ Passenger Railway Company and tho Sovontoonth S Nine
c
teenth Street Passenger Railway Company for 999 yoars. Transferred
Oct. 1 1895, along with all right to dividends on 6,100 sharos of Its stock
(thon held by the Union Passongor Railway Co. as trusteo and Iosseo), by
lease of Philadelphia Traction to the Union Traction Co. Dividends are
$1 50 per $50 share each June 30 aud Dec. 30— that is 8 % por ann.
STOCK AND BONDS—■ Date.
Interest. Outstanding. Maturity.
Stock (par $50)______ (Ailowned by Phlla. Trac.)
$600,000 ....................
1st M gold $200,000— c .c p t . 1900
3\i g J-J
200,000 M a rl 1930
Bonds —Tho new 3J4s were Issued to retire a like amount of 7s, duo
July 1900. Land Title S Trust C o., Phila., Trusteo.
c
Due lessee company for additions July 1 1917. $705,715.
ROA D .— Mileage. 12.41 miles.— V. 70, p. 1150.
( 6 ) Frankford & Southwark Philadelphia City Passenger Railway.
ORGANIZATION.— Incorporated April 4 1854. Acqulrod stock, of
Lombard S South Streots Passongor Hall.vay in 1890. Loasod to the
c
Electric Traction Co. for 999 years from July 1 1893; divklonds for tho
several yoars named below being guaranteed por sharo:
Is/
2d
3d
4th
5th
6th
7lh 8th 9th 10th and after
$12 $12.50 $13 $13.50 $14 $14.60 $t5 $16 $17
$18
STOCK AND BONDS— Miles. Date. Interest. Outstanding Last dio.,Scc.
Stock (par $50)__________ _____
____
Q-J
$1,875,000
Seo toxt
Debt of Controlled Lines (assumed by Electric Traction Co.)
Lombard S South Streots) 10 1881 314 J-D $150,000 Dec 1 1951
c
Pass first mtgo $500 &> Interest at RoalEstato Tltlo Insurance Sc Trust
$1,000)__________ c .c p t) C o., Trusteo.
West End Pass Ry mtgo)
9 1875
4 A-O
132,100
Oct 1 1933
ext $150,000 ($100 and/Phila. Trust, Safo Doposit S Ins. C o., Trusteo.
c
$500)____________ C-cpt) Interest at Land Title S Trust Co.
c
The Lombard & South Sts. pass. Issue of $150,000 was originally 5%
but was callod at maturity and then extondod for 50 yoars from Doc. I 1901
at 3 )4 % . Tho West End Pass. Ry. mtgo. maturod Oct. 1 1905 but was
extended for 30 yoars at 4 % . V. 81, p. 156.
R OAD.— Trackago, 71.586 miles.
Sept ., 1918.]
ELECTRIC RAILWAYS
(7) Germ antown Passenger Railway.—A trolley road.
ORGAN IZATION .— Incorporated April 21 1858. Leased Oct. 1 1881
to the People's Passenger Ry. Co. for 999 years, but rental modified In
1893; stock since 1897 receives dividends yearly of $5 25 per share.
Stock authorized. $1,500,000 ($50): paid In, $572,860.
HOAD.—Trackage, 43.905 miles. Extension of 2,000 feet from Hillcrest
Avenue to city line, completed In Sept. 1898, forms with the Roxborough
Chestnut III11 & Norristown Passenger R y., a through lino to Norristown
— V. 69. p. 695.
( 8 ) Green & Coates Streets Philadelphia Passenger Railway. ,
ORGAN IZATION .— Incorporated April 21 1858. Leased to P eople■
Passenger Hy for 999 years from Sept. 1 1881 at an annual rental of $60,000.
Interest on bonds (since fallen duo) and expense of management
Stock, 10,000 shares (par value, $50). $15 paid In. Dividends are 12%
per an. (Q-J): on par or 40% on amount paid in. Trackage,o.429 mile*.
(9t heston vllle M antua & Fairm ount Passenger Railway.
O R G A N IZA T IO N — Incorp. April 6 1859 ,, Franchise is perpetuaP
LEASE.— Hestonvllle M . & F. road leased from Jan 1 1898 to Union
Traction for 999 years at a rontal of 6 % on the preferred and 4% on the
common stock. Hy the terms of the lease the Tairmount 1 ark & Hadding
ton lease Is assigned to the Union Traction, which assumes the dividends
guaranteed on that stock (all owned by Hestonvllle C o .). 1 ho Union I ractlon assumes the bonded debt of both the Hestonvllle and Haddington com
panies and purchased 4,780 shares of the preferred at par and 35,294 of the
common Ilestonville stock at $45 per $50 share
V. 6 6 , p. 236.
STOCK AND BONDS— Date.
Interest
Outstanding. Maturity
Common stock par $50--------- -------4 J-J
$1,966.100 f.p. See text
Preferred stock par $50--------- -------6 J-J
533.900 f.p. See text.
Consolidated M $1,250.0001 1894 5 -3 H g M -N *1,250,000 May 1 1924
g $500 & $ l, 0 0 0 -c * x .c p t jTrustee, Girard Trust Co.
Guaranteed rental 9 9 9 -year lease—
6 g F-A
300.000 See text
Fairmount Pk A H a dd in gton !-----Pass Ity stk par $50______/
__
241,968
‘ ‘Leased Equipment Account, June30 1910-----___
100,000
____________________I 1917.
Duo leased lines June 30 _______ ■
*
'interest Is payable In Philadelphia, x Freo of tax.
♦ Of the $1,250,000 outstanding, $124,500 wore issued Jan. 1901 as 3)4s
to take up bonds of like amount of the Fairmount Pass. Ry. due at that
time and $75,000 on Mar. 1 1902, to take up a like amount of 2d mortgage
6 s maturing on that date.
________
„
,
,
Common stock authorized, 39,322 shares; preferred, 10.678 shares; par
value of each, $50: stock outstanding as in tablo.
ROA1).—Trackage, 19.782 miles.— V. 71. P 1167
(10) Lombard & South Street Passenger Railway.— See Frankford S
t
Southwark Passenger Railway.
(11) People’s Passenger Railway.— An electric road
„
ORGANIZATION.— Chartered Apr. 15 1873. The Peoples Trac. Co.
on Apr 15 1893 acquired the entire capital stock of this road at $70 per
share. The Traction Co. then leased the People’s Passenger Ry. By a
tripartite agreement this lease was on July 1 1896 assigned to the Union
Trac Co. for 998 years and three mouths. Rontal Is 10% per annum on
capital stock ($ 2 50 per share) as below shown, nearly all of which la pledged
for People’s Traction Co. trust certificates
„
,
„
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
10% M-S 31 a60,000shs. See text
Common stock ($25).................... Preferred stock ($25)________. . . .
10% M-S 31
a23,000shs. See text
First mortgage ($l,000)c_cpt 1874 4 i-J 16
$219,000 Jan 15 1935
Second mortgage $600,0001 1881 4 J-J
285,000 July 15 1961
($1.000)___ _______ c .c p t fln t . at Guar. Tr. & S. D. C o., Phlla., Trus.
Consolidated mtge $1,125.-1 1882 4 M-S
246,000 Mar 1 1962
000 ($1.000)___ cA r.cp tfln t. at Guar. Tr. & S. D. C o.. Phlla.. Trus
a Total stock paid in $924,056.
Int. on 1st M bondH at Land Title & Trust Co. The 1st M. bonds ma
tured Jan. 15 1905. but $219,000 of the $250,000 were extended as 4s to
1935. the remaining $31,000 being canceled. The 2d M . bonds matured
July 15 1911. but were extended as 4s to 1961. Consol, mtge. bonds were
originally 6 s and fell due Mar. 1 1912, but were extended for 60 years as 4s.
Due People's Traction Co. June 30 1917 for construction and„equi|,ment
*6The stock acquired by the People’s Traction Co. was pledged as security
or trust certificates. See People’s Traction.
ROAD.—Trackage, 2.659 miles.— V. 63. p. 657; V. 92, p 1500.
(12) People’ s T raction.— An electric road
ORGANIZATION.— A Pennsylvania corporation chartered March 6
1893 to operate and equip with trolley the People’s Passenger R y.. the
entire capital stock of which It purchased on or about April 15 1893. In
Oct. 1895 the Union Traction Co. acquired all traction stock at $76 per
share the Pennsylvania Co. for Insurances on Lives and Grant. Ann.
Issuing therefor Its guaranteed trust certificates. On July 1 1896 the Union
Traction Co. leased the road for 998 years and three months.
Date.
Interest.
Issued.
Maturity.
S T O C K , Sec.—
Soe text.
(200,000 s h s .l ____
Capital stock ($30) (See
1 Full paid /
text ___ ________________
4 g F-A
$5,587,000 Feb 1 1943
Trust certificates gold 1893 1893
H
not subject to call ($ 1 , Interest tax free,. payable at Pennsylv. Co.
____ _____ __
for Insurances on Lives. &c.. Phlla. Trus.
000) ..
.................cpt
Trust certificates were Issued by Pennsylvania Co. for Insurances, Ac.,
and are secured by pledge of People’s Passenger R y. stock (seo that company
above) and by contract of People’s Traction C o .. which guarantees principal
aud Interest. Issue limited to $1,000 for 14 2-7 shares deposited, making
total authorized, $5,807,970. Of this, $6,560,000 outstanding. Sinking
fund $2 5 ,0 0 0 yearly, began Feb. 1 1903.
(13) Philadelphia City Passenger R,v.— A trolley road.
ORGAN IZATION.— Incorporated April 9 1859. Leased to West Phila
delphia Passenger Railway Co. for 999 years from Jan. 1 1884 for Interest
on bonds. $2,500 per year for organization and dividend of $7 50 per share.
Transferred under lease of Philadelphia Traction Co. Oct jl 1805 to the
Union Traction Co. Tho 1st mtge. 4% bonds due Jan. 1 1960 were origi
nally 6 % bonds, and fell due Jan. 1 1910. but were extended at 4% without
option of prior redemption. V. 89. p. 1543
STOCK AND BONDS— Dale.
Interest. Outstanding. Maturity.
(20,000 shs.l See text
Stock $1,000,000 (8 6 0 )-.-...............
7)4 J-J
($23 75 paid)
$200,000 Jan 1 i960
First
mortgage
extended! 1861
4 J-J
($500) c
_ cpt/L and Title A Trust C o., Trustee.
Debentures ($500 Ac) c .c p t l - - - 5 M-S
100,000 Mar 1 1935
(Interest at Land Title & Trust C o., Phlla.
ROAD.— Trackage, 7.679 miles. V. 89. p. 919. 1643.
(14) Philadelphia & Darby Ry- —
,
, . ..
ORGAN IZATION.— Incorporated April 28 1857. Leased to the Phila
delphia City Passenger Railway Co. for 999 years from Jan. 1 1870, for
$8,000 per annum and Interest on bonds. Transferred under lease of
Philadelphia Traction Co. Oct. 1 1895 to Union Iractlon ( o.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity.
Stock (par $50)....................... ...........
4 J-J
AISeo1 ? ‘ ,
t'
mnrttfai?fl
o m tf
_
4 M “N
100.000 xVlay 1 1927
First mortgage............. C- CPt{ Infc. at Land Title & Trust C o.. Phlla.. Pa.
ROAD.— Trackage, 15.657 miles.
(15) Philadelphia & Gray’s Ferry Passenger Ry-“ Trolley.
O R G A N I Z A T I O N .— Incorporated April 8 1858. Leased to Philadelphia
Traction Co. for 999 years from Jan. 1 1891 at rental. first five years,
$43,225, or $3 50 per share per annum, and $49,400, or $4 per share per
annum thereafter, tho lessee to pay all taxes, running expenses, &c. Oper
ated by Phlla. Rapid Transit Co. In March 1803 absorbed the_Schuylkll
(16) Philadelphia Ira ctlo n .— A trolley road.
ORGAN IZATION .— Incorporated Aug. 22 1883 and secured control of
an extensive system of roads in Philadelphia, Pa. (about 210 miles of track)
which it held either by lease or ownership of securities, not In fee. Under
the lease to tho Union Traction C o., dated Oct 1 1895, all tho leases and
the securities owned wore assignod to tho Union Co., which assumes all
liabilities for rentals, Ac.
,
_
.
The lease to Union Traction Co. Is for 999 years from Oct. 1 1895, and
provides for dividends of $4 (8 %) per annum on oaeh $50 share, payable In
gold coin, freo of taxes. See V. 61, p. 663, for extracts from lease. Phila
delphia Traction stockholders wore allowed to subscribe for now Union
Traction stock. Soe V. 61. p. 197.
„
Stock, auth. and outstanding, $20,000,000 (par $50). Open accounts
Juno 30 1917, $10,121,937.
97
Dividends—
I '85. ' 8 6 . '87. ‘ 8 8 . ‘89. ’90-’ 93. '94 '95 ’96 and since.
Per cent-.-____ 1 2 3 6 5 4
6
8 8
8 % per annum
Undor lease, dividends of 8 % are guaranteed. V.61 p 66.3; V 73. p .288.
ROAD.— The system assigned to the Union Traction Co. aggregated
332.04 miles, consisting of the following “ Passenger Railways";
Miles
Miles.
Union Passenger R y___________81.03 17th and 19th Streets________ 13.80
West Philadelphia Pass. R y _ 72.52 22d & Allegheny.. _ ________ 65.33
_
Ridge Aveuue Passenger R y __ 15.40 Catharine A Balnbridge Streets 5.46
Philadelphia & Darby Pass. Ryl5.66 Huntingdon St Connect___________ .17
13th & 15th Streets...................19.12 Kessler St. C onm ct__________
.16
Philadelphia A Gray’s Ferry_ 10-80 Ridge Ave. Connect__________
_
.22
Continental Passenger R y _____11.41 Walnut St. Connect__________ 1.38
Empire Passenger R y ________ 12.41
Philadelphia City Passenger Ry 7.68
Total of all. _
. 332.35
— V 91. p. 397: V. 92. p. 396: V. 93. p. 408: V. 97. p. 951: V. 106. p. 925.
(17)
Philadelphia & Willow Grove Street Railway Co.
ORGAN IZATION .— Is a consolidation In 1904 of the I’hila. A Willow
Grove Slreel Ry and the Glenslde & Willow Grove Street Ry. Entire
■took Is owned by the Union Traction Co. The I’ hila. Rap. Tran. Co.
guarantees the bonds, prln. and int., by endorsement. See guaranty,
V 79, p 904
.STOCK AN I) BONDS—
Date. Interest. Outstanding. Maturity.
Siock $ l,o 0 o .0 0 0 ...................................... - ........... $ 1 ,0 0 0 ,0 0 0
...............
First mtge $1,000,000 guarl 1904 4)4 g J-J
1.000.000 July 11934
old ($1,000)______c*.cp t!In t.a tL a n d T Itle& Tru Co Phlla Trustee.
onds.— Bond* are subject to call on any Interest date at 105 and Interest
upon 30 days' notice. A sinking fund began after 5 years: of $10,000 per
annum for 5 years, $15,000 per annum for following 5 years and $20.0C0
per annum for the ensuing 15 years. See V 79. p 904.
ROAD.— Trackage from Intersection of Weaver St. or Cherry Lane with
Montgomery County line to Willow Grove Park. 14.811 miles.— V . 79.
p. 904. V 81, p 32
(18) Ridge Avenue Passenger Ry.
O R G A M ZA 'l ION .— Consolidation of Girard College Passenger Ry. and
the RUlge Avenue A Manayunk Passenger Ry on March 8 1872
Leased
to the Philadelphia 'Traction Co for 999 years from Sept 1 1892 for dividend
of $10 per share per annum to Sept. 1895 and $12 per share thereafter.
Operated by Phlla Rap. Transit Co.
8 'IO OK.— Authorized and outstanding. $750,000 ($50); about $28
per share palo In
On acionm of son e old debts, dividends for 1896 wer< continued at $10
per shart li tcaii of the $12 as noted above
In 1897 dividends were in
creased to $1: per share. Trackage 15.40 miles.— V. 107. p. 1193.
(19) Second A Third Street Passenger Ry.
O R G A N IZA TIO N .— Incorporated April 10 1858. Leased Jan. 1 1893
to the Frankford A Southwark Passenger Railway Co. for 999 years for the
following guaranteed dividends per share per annum:
1893
1804-95
1806-97.
1898-99.
1900.
1901
1902 & after.
$ 8 50
$9
See below
$10
$10 60
$11
$12
Dividends In 1896 and 1897 were to be $9 50 per annum, but the dividend
for 1896 and for the first half of 1897 was at the rate of $9 per share Instead
of $9 60 the balance being applied to the {laymerit of the d«bt of $27,000
Incurred for paving
V. 62, p. 785. The full $12 per annum, however,
has been paid since.
'This lease was assumed by Electric Traction Co July 1 1893.
Stock Issued. 21,204 shares (par $50); $771,076 paid In
(20)
Seventeenth & N ineteenth Streets Passenger Ry.
O R G A N IZA T IO N .— Incorporated April 12 1859. Leased to the Conti
nental Passenger Railway Co. for 99 years from July 1 1879 at a rental of
$15,000 per annum, being 3% on 10,000 shares (par $50) stock. Interest on
bonds, taxes, expenses, Ac. Transferred under lease of Philadelphia Trac
tion C o. Oct 1 1896 to the Union Traction Co.; all rights of the Philadelphia
Traction Co to dividends on the 10,000 shares of tne 17th A 19th Streets
road, which were then held by the Union Passenger Railway Co. as trustee
and lessee being also transferred to the Union Co. Stock all owned by
Continental l ass. Ry Co.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
3 J-J
JlO.OOOshs. I
See text
Stock (par $50)..................................
1 $25 paid /
First mortgage ($500) exten-J 1876
5 J-J
$100,000 July 1 1919
d o d ............................ c .c p t l Int. at Land Title A Trust C o., Phlla., Pa.
Due lessee for additions June 30 1917. $554,289.
ROAD — Traekage 13.80 miles.
(21 T hirteen th & Fifteenth Streets Passenger Ry.— A trolley road.
OR GA N IZA TION .— Incorporated April 8 1859
Leased Jan. 1 1892 to
Phlh.dolthla 7 raetlon Co. for following rental: From JaD. 1892toJan. 1894.
$9 per share per annum; 1894 to Jan. 1897. $10 per share; 1897 to Jan.
1900. $11 nei share; and from Jan. 1900 $12 per share. Lease transferred
to Union Traction Co. Oct. 1 1895.
STOCK ANI) BONDS—
Date.
Interest.
Outstanding. Maturity
Stock $1.0011,000 (par $50)_ _____
_
$12 J-J $334,529 pd. in. See text
Consol* ($600,000). . . . c . c p t 1894 5 & 3 ) 4 J-J
$436,000 Jan 1 1934
Real estate m o r t g a g e s ....c p t _ - _______
_
55,000 ________ _
The consols are guaranteed, prln. and Int., by the Phlla Traction C o.,
and the coupons are payable tax free; $36,000 of these are 3 ^ 4 8 and were
exchanged foi old 7°/, ponds of like amount due Oct 1 1903. V. 77, p. 695.
Interest and dividends are payable at office of the Fidelity Trust C o.,
the trustee of both mortgages.
Dividend In July 1895. $5 per share; tho Jan. 1896 dividend was not paid,
owing to payment of city’s claim for paving. V 61. p. 1155. In July
1896 paid $4 per share; In 1897 $10 50 per share; In 1898. $] 1 per share; In
1899, $11 p. r share in 1900. S ll 50 per share; 1901-1907, lncl., $12 per
share per ann. In 1908, Jan., $6 ; July, $6 , and $1 extra (paid out of accum
ulated surplus), 1909 and since, $12 per share per annum.
ROAD.- 'Trackage 19.121 miles. V .7 7 ,p 695; V. 8 6 , p. 1531. .
(22) Union Passenger Railway.— Trolley road.
Oltti ANIZA'l It >N.— Incorporated April 8 1864. Leased to Philadelphia
Traction ( o. for 999 years from June30 1884 at an annual rental of $285,000,
or $9 60 per shun on stock, and Interest, taxes. Ac. There are outstanding
30,000 slisn s ($1,500,000) of stock, on which $30 83 1-3 has been paid la
on cacti share or a total of $925,000. Stock Is considered full paid.
$302,300 oi tin stock Is owned by tbc Philadelphia 'Traction Co. Its lease
of the ( O' tb 6 i tal Passenger Ry was assignee to the Philadelphia Traction
Co. and fron 0« t . 1 1895 to May 1 1902 opi r; te.l by the Union Traction Co.
The Union Passenger Railway Co. Is still holding, as lessee and trustee,
6,109 shares !•mplre Passenger R y. stock and 10,000 shares of 17th A 19th
Streets Passenger Ry.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Stock $1 5( O.t 00 (par $ 5 0 ) - - - ___
$9 60 J-J
See text.
See text.
First mortgage ($100 and! 1881
4 A-O
$509,000 M ar31 1961
$ 5 0 0 )___ ________ c .c p t (Pennsylvania Co. for lnsur. on Lives. Trus.
Second mortgage ($100 and\ 1884
4 A-O
250,000 Mar 311960
$500)_______________c -c p t )ln t. on both loan- at Land T . & T. C o., Phil.
Due lessee company for additions June 30 1917. $6,655,708.
The 1st mtge. bonds were originally 6 s and matured March 31 1911, but
In Jan 191 1 arrangements were made with Drexel A Co., Phlla., to pur
chase the bonds, and they were extended for 50 years at 4% without option
to call
\ 92. p. 190. The 2d M . bonds of 1884 were formerlv 5- and ma
tured Mar. 31 1910. but were extended for 50 years at 4% without right of
prior redemption
V. 90. p. 628. Land Title A Trust Co. has been
substituted this tee.
ROAD.— Trackage, 81.03 miles.— V. 92, p. 190; V. 106, p. 925.
(23) West Philadelphia Passenger R y.—Trolley
ORGANIZATION.- Incorporated May 14 1857. Leased Jan. 1 1884 to
the Philadelphia 7 ractlon Co. for 999 years at an annual rental of $159,000,
or 20V. on stock, and Interest, taxes, Ac.; transferred Oct 1 1895 to U' Ion
'Traction Co. Tho Philadelphia Traction Go. owns $392,950 of the $750,
0 0 0 stock.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
stock (par $50)..................................
$10 J-J
$750,900
Se text
First mortgage ($1,000)
/ 1876
3)4 A-O
246.000 April 1 1956
gold__________ _____ c.cptlG lrard Trust C o.. Philadelphia, Trustee.
Second mtge ($1,000).c_cpt 1886
5 M-N
750.000 May 1 1926
Freo from tax.
(Pennsylvania Co. for Ins. on Lives A Grantl Ing Annuities, l’bilu . Pa.. Trustee.
D nets.— interest on both loans payable at Land Title A Trust C o., Phila
delphia, 1’ a. The first mortgage os matured April 1 1906 but were extended
for 50 years at 3 )4 % •
Due lessee for additions to June 30 1917. $2,509,140.
ROAD.— Trackage. 72.518 miles.— V. 106. p. 925.
S
98
ELECTRIC RAILWAYS
.
INTER-STATE RAILW AYS.
Financial Plan.— Int. duo Fob. and Aug. 1909 was paid after «om*
delay. V. 8 8 . p. 1127, 1197; V. 89. p. 348, 1141. On Nov. 25 1910 share
holders ratified the readjustment plan (V. 91. p. 1385, 1512) calling for the
issuo of 31.000.000 0 % cum pref. stock, shareholders to take $500,000 as
par for cash (payable In 5 Installments o f 20% each at Interval* of 30 days
beginning with 2 payments .Ian. 2 and onding April 1 1911). and bondholders
to take $500,000 at par In lieu of 1910 and 1911 coupons on bonds. V. 91
p. 1711; V. 92. p. 59. Entire Issue was subscribed and taken. V . 92, p. 1032
Leases of Controlled Properties.— The leasing of the underlying companies
was consummated in 1910 upon satisfactory terms. The subsidiaries are
• ,four groups, Wilkes-llarro. Reading, Trenton and Wilmington. The
n
Wilkes-Barre Rys. C o., the Reading Trans. Co. (succeeded by Read. Tran*
& Light Co. In Mar. 1913. control of which was acquired by Eastern 1
’ower
& Light C orp.), the Trenton & Morcer County Traction Corp., the Southern
Pennsylvania Traction and the Wilmington A Philadelphia Traction Co
wero formed to take over the various properties. V. 91, p. 1512; V. 92. p
261. Statements for these co/npaules will be found respectively under
Wilkes-Barre. Reading. Trenton and Philadelphia
The aggregate annual Income under the above leases Is as follows (but
see remarks below)
1918
.......$758,542 1922
$798,542
1926 and thereafter an
1919
..... 768,542 1923
.... 808.542
nually...........$830,000
1920
..... 778,542 1924................ 818,542
1921
..... 788.542 1925...........
826.04.1
Fixed Charges to Be Paid Out of Above Rental Plus Any Other Income.
,
Int. on 4s.
Taxes.
Total.
$431,064
$3,145
$434,200
Inter-State Railways...........................
United Power A Transportation____
262,130
3,297
265 433
T o t a l .................................................
$693,200
$6,442
$699 642
Note.— Pho above figures do not Include the Federal Income tax. which
must be added thereto.
Defaull in Rental— Dividend Passed.— Failure of the Trenton A Mercer
County Trac. Co. to pay its rental, due to increased operating expenses,
resulted in the omission of the Jan. and July 1918 divs. on the pref. stock.
See V. 100, p. 189. Up to Sept. 1 1918 the rental had not been paid.
ORGAN IZATION.-- Incorporated In New Jersey on Dec. 4 lU 'g with
U
very broad powers. Is empowered to purchase, acquire, develop and con
struct street railways, electric light and power, water .and gas companies
1 1 Doc 1902 obtained control of the Unitod Power A Transportation Co
through purchase of the outstanding (33.593,750) capital stock, on a basis
of $75 for each $25 share, payable In collateral trust bonds. $.3,692,200 of
this stock was exchanged for bonds on this basis.
On April 23 1916 stockholders approved the Issuance of new. Irredeemable
preferred stock In exchange for the old pref. stock
V. 100, p. 1592.
Under a supplemental agreement dated July 26 1917 between the Inter
state Rys. Co., United Power & Transportation Co. and Real Estate Title
Insurance & Trust Co., the outstanding amounts of United Railways and
Delaware County Ry. gold trust certificates (see United Power & Trans
portation Co. below) were reduced and some of the collateral pledged
therefor withdrawn. Compare V. 103, p. 2238; V. 105, p. 716. The cash
received by the Interstate Rys. Co. from the sale of some of tho withdrawn
collateral has been invested. V. 106, p. 8 6 .
STOCK AN D b u n DS—
Dale.
Interest.
Outstanding. Maturity
Com $9,000,000 ($100).........................................
$2,291,200 f . p ........... .
Pref $1,000,000 ($10) 6 % c u m ____
J-J
1.000.000
See text.
Collateral trust gold $10.-1 1903
4 g F-A
10,776,600 Feb 1 1943
7 8 1 ,2 5 0 _____ ____________ c * | ln t. at Real E st. Title Ins. & T r ., Phlla., Tr
Stock.— C om . stock was listed on the Philadelphia Stock Exchange in
April 190.3
V . 92 p. 1243: V. 93. p. 164
$8.31.580 of tho old preferred
stock had been exchanged for the new up to Sept. 1 1918.
bonds are dated fe b . 1 1903 aud are secured by deposit of United Powet
A Transportation stock. They bear 3 % interest the first year, 3 >4% the
second and 4 % the third and subsequent years. Denominations $100
$500 and $ 1,000. Are subjact to call at 105 and Int. on 30 days' notice.
Dividends.- Initial dlv on pref.— 3<s — paid July 1911: same rate semi
annually to and incl. July 1917. Jan. 1918 div. passed (see V . 106, p. 189).
R E P O R T .— Vear ending Jan. 31—
Fiscal
Year—
Total
Receipts.
Interest
Coll Trust.
Exp. &
Taxes.
Preferred
Dividends.
Balance
Surplus
1 9 1 7 -1 8 ............... $519,117
$431,064
$16,439
$30,000
$41,613
1 9 1 6 -1 7 ________ 592.021
431.064
8,687
6 0.000
92.270
O F F IC E R S .— l ’res., John A . RIgg: V .-P ., W alter A . Rlgg; T reas.. T . W
Orooket Jr.: Sec. A Asst. T reas., J. W . Goodwin.
Office. 411 Markot St
Cam den, N . J .— V . 106, p. 86, 189, 499, 924, 1036, 1461, 2757.
U N IT E D P O W E R & T R A N S P O R T A T IO N C O .— Electric roads.
Incorporated April 20 1899 under New Jersey laws to construct, develop
and own street railways, power companies, A c ., and do a general business
(V . 68. p 929).
In Dec. 1902 stock was acquired by Inter-State R ys. C o.
which see Immediately above.
On D ee. 31 1917 owned the following stocks and bonds. AVe show also
the total amounts outstanding of each Issue.
Stocks—
Owned. Tot. Stk
Shares. Shares.
Delaware C ounty A Philadelphia Electric R y _____________ 5.993
6,000
9.992
10,000
Lebanon Valley Street Ry C o _______________________________
M edia Glen Riddle A Rockdale Electric Street R y _______
1.632
1.64''
Reading A Southwestern U y .j ,______________________________
1,117
2.600
Roxboro Chestnut Hill A Norristown R y , C o _____________ 4,9.39
4.968
9.995
10,000
Schuylkill Valley Traction C o . . ................
Trenton Street R y ------------------------------------------------------------------- 19,969
20.000
Trenton Traction C o _________________________________________
17 8
20
AVllkes-Barre A W yom ing Valley Traction________________ 49.992
50,000
Wilmington A Chester Traction____________________________ 39.995
40,000
W ilmington City Electric____________________________________
5,095
5,100
Wilmington A Great Valley Turnpike C o __________________
978
1.040
W ilmington A Philadelphia Turnpike___________; _________
1,035
1,200
Wilmington A Christiana Turnpike C o ____________________
644
680
S T O C K A B O N D S .— Stock au th ., $3 ,5 9 3 ,7 5 0 : shares $25, full paid.
In
M a r. 1902 outstanding stock was Increased from $3,12 5 ,0 0 0 to $3,593,760
(V . 74, p. 682) tho additional shares being sold to stockholders at $35 per
$25 share. Bonds, 4 % coll, trust certificates, are In two series, which we
have marked (a) and (6) below. (Stock aud bonds listed on Philadelphia
Stock Exchange.]
(а) Under a trust agreement between the United Power A Transporta
tion C o. and the New York Trust C o ., trustee, dated M ay 1 1899, and a
supplemental agreement dated July 26 1917 secured by deposit with trustee
of $ 5,59 5 ,0 0 0 United Railways gold trust certificates. 19,953 shares Trenton
Street R y. C o .. 39,993 shares AVilndngton A Chester Traction C o ., 5.089
shares tho Wilmington City Electric C o. and 49,911 shares the WilkesBarre A W yom ing Valley 'Fraction C o. Pursuant to the supplemental
trust agreement dated July 26 1917, the amount of outstanding certificates
was reduced from $ 7 ,928,800 to $5,595,000 by acquisition by the co. aud
subsequent cancellation of $ 2 ,323,000 thereof through the sale of certain
assets pledged as security therefor as follows: 79,991 shares of the United
Traction C o. of Reading and 35,800 shares of the Edison Elec. Ilium. C o.
of Lebanon. P a ., which, together with the remaining shares of said cos.
in the treasury, were sold for a consldertaion of $ 1 ,250,000 par value United
Railways gold trust certificates and $ 2 ,760,000 cash; 1,125 shares of Read
ing A Southwestern St. R y ., 4,925 shares of Roxborough Chestnut Hill A
Norristown R y. and 14,992 shares of Holmesburg Tarony A Frankfort!
Electric R y. (sold under foreclosure In 1910 and reorganized with no reali
zation on Its capital stock— see Frankfort! Tacony A Holmesburg R y. bolow) were also withdrawn from collateral for the trust certificates and are
held In com pany’s treasury.
The cash received by the company was
Invested In United Railways and Delaware C ounty, R y . gold trust cer
tificates. V . 106, p. 87.
(б) $958,450 Delaware County R y. gold trust certificates under a trust
agreement between the United Power A Transportation C o. and tho Real
Estate Title Insurance A Trust C o . of Phlla., dated M ay 1 1899. and sup
plemental agreement dated July 26 1917, under which the United Power A
Transportation Co. has deposited with the said trust company, as trustee.
5,993 shares Delaware County A Philadelphia Elec. R y. C o.
Under sup
plemental agreement dated July 26 1917 the amount outstanding was re
duced from $998,950 to $958,450 and 1,125 shares of Reading A South
western St. R y. stock and 4,925 shares o f Roxborough Chestnut Hill A
Norristown R y. stock were withdrawn from collateral. V. 106, p. 87.
Thu principal of both series (which aro In $100. $500 and $1,000 pieces)
la duo at option of holder on July 1 1949 and thereafter on any Jan. I or
July 1 at the option of the United Power A Trausporatlon C o.
For both
series, also, the semi-annual Interest (J. A J.) aud the principal are payable
In geld coin, free of tax. at the office o f the Real Estato Title Insurance A
Trust C o . of Philadelphia, trustee.
[Vol. 107
D IV ID E N D S.—On Jan. 20 1900 a dividend of 50c. per share was paid,
alio same amount July 16 1900; In 1901. Jan. 21. $1; July 10 $1: In 1902,
Jan. 20, $1, July 10, $1; In 1903. Jan. 20, $1; In1904. Jan 10. $2 6 6 ; In
1905, Jan. 24. $2 39; In 1906 Jan. 26. $3 10; In1907. Jan. 24. $3 20: In
’ 908, Jan. 30. $3 31: none to July 1911. when $1 10 was paid; In 1912. Jan.
30. $1 40: July 29, $1 41; In 1913. Jan., SI 79: July, $1 20. In 1914.
Jan., $1 52; July. $1 40. In 1916, Jan., $1 54: July SI 34 In 1916.
Jan., $1 55; July. $1 4.3. In 1917, Jan., $1 50; July. $1 23. In 1918,
Jan., SI 32; July, SI 20.
R EPO RT.— From
Interest.
Taxes,
Dividend Surp. after
Cal. Year— Invrstrn'ts.
on 4s.
Ac.
Paid.
Divid <ls
$329,613
$45,831
$366,503
$236
1917-................ $742,242
1916 ................ 821.564
356.676
35.593
428,375
920
OFFICERS. — Pros.. John A. Rlgg; V.-P., Walter A. Rlgg. Treas.. T. W .
Grookot Jr.; Sec. A Asst. Treas. J W. Goodwin; Counsel. R L Jones
General offices, 411 Market St., Camden, N. J.— V. 106, p. 1462, 2230;
V. 107. p. 1102.
MUNICIPAL SERVICE CO.
ORGANIZATION.— Incorp. in Maine In March 1912 to buy, soli and
operate public utility properties. In March 1917 acquired control of the
Citizen* Traction Co (which see under “ OH City, P a."). In May 1917
acquired tho Youngstown A Suburban Ry. Co. (which see under Youngs
town, Ohio) by exchange of stock and bonds, as per offer In V. 104. p. 2235.
Also controls through stock ownership the Chester Valley Electric Co.
Coatesvllle, Pa.), Salem (O.) Lighting Co.. Alexandria Co. (Va.) Lighting
C o., Staunton (Va.) Lighting Co., Sumter (S. C.) Lighting Co. and Val
dosta (Oa.) Lighting Co. The properties aro operated by Day A Zimmerrnann, Inc., Philadelphia.
STOCK AND BON DS.
Date.
Interest. Outstanding. Maturity.
Common $2,000,000 ($100).......... ..
Q-J
$1,012,100
See text
Pref cum 6 % S2.000,000($100)____
Q-F
1,460.000 Aug '18,1)4
Coupon notes $ 1 .800,000 ............ ..
6%
725,000 .. ................
First Lien Coll Trust Mtgef 1917 5 M-S 1
2,641,500 Mar 1 1942
$20,000,000 ($500 and $1 ,-(Interest payable In Boston and Philadelphia.
000)____ ___ . . . . . c * cptl Philadelphia Trust Co.. Trustee.
Bonds.— 8 ocured by $2,581,000 mortgage bonds, $1.249,000 pref. stock and
$2,456,000 common stock of subsidiary companies. Additional bonds may
be Issued only for acquiring and placing under the mortgage at least an
equal amount of mtge. bonds of subsidiaries now outstanding, or, further,
at the rate of 85% for those to be Issued by subsidiaries for construction,
but under certain earnings requirements. Sinking fund of 6 % of not
earnings of subsidiary companies after payment of operating expenses,
taxon and renewal reserves, less sinking fund payments on present sun. co.’s
mortgages, from Mar. 1 1918 to Mar. 1 1925, and 5% thereafter. Subject
to call In whole or part on any int. date at 103 and Int.
Dividends.— 6 % Is being paid on prof stock
Initial div. of 1% on com.
stock paid in April 1914; in 1915, 3% ; 1916 and 1917, 4% . None since.
EARNINGS.—Combined earnings of subsidiary corn pari las tlncl. Citi
zens Trac. Co. and Youngstown A Suburban Ry. Co.) for year onding
June 30 1918, gross, $1,566,488: net, after taxes. $506,109: int. charges
on securities not owned by M . S. Co., $104,243: M. 8 . Co. expenses,
$12,468: bond int., $132,511: bal. for noto int., sinking fund., amortization
reserves and dividends, $256,887.
OFFICERS.— Pres., Geo. B. Baker; V .-P ., Nicholas G. Roosovelt,
Phlla.; Sec.. John E. Zlmmermann; Treas., W. VV. Brooks, Boston: Asst.
Sec., C. A. McCluro: Asst. Treas., Jas. W. Swain, Jr., and L. B. Harvey.
General office. Land Title Bldg., Phlla.— V. 104. p. 1387. 1592, 2235.
FRANKFORD TACONY & HOLMESBURU RY. A trolley road.
ORGANIZATION. — incorp. In Pennsylvania on July II 1910 as a re
organization of the Holmesburg Tacony A Frankford Elec. Ry.. sold at
foreclosure June 1 1910. For terms of exchange of bonds of old company
for new company bonds see V 01 r 276
'
>
Frnnrhi.se perpetual
Fare Increase.— In Aug. 1918 filed with tho Penn. P. S. Comm, a new
tariff increasing fares from 5 to 6 cents. V. 107, p. 696.
3 Tot K AND iio N D8 —
Dale.
Interest
uui.uandlng. Maturity.
Stock $500,000 t$50)................................................ $500,000
_________
First mortgage $500,000 gold I 1910
5 g J-J
400.000 July 1 1940
($600 and $1,000)
_c*tf'ln t. at Tacony Trust. Co.. Phlla . trustee.
Bonds.— Remaining $100,000 bonds are roserved for extension* and botcermenta. Bonds aro not subject to call. They are listed on Phlla Stock
Exchange. V. 93, p. 105
Earnings—
Oross
Net, after Bond
Balance,
Revenue
Cal. Year—
Earnings. Taxes, Ac. Interest. Surplus Passengers
1917 ............................. $159,720 $24,033 $20,000 $10.33 $2,991,728
1916 ..............- .............. 152.819
41.306
20 000 21.306
2.900,585
1915 ............................. 147.507
38,139 20.000
18.1.39 2.814.585
ROAD.—Operates 17.29 miles of track between Philadelphia, Frankford,
Brtdosburg. Tacony, Holmesburg and Torresdale, of which 1 mile (In Phlla.)
la leased
60-lh T and 80-lb girder rails
Gauge 5 ft. 214 In. 28 motor
cars, 14 trail cars and 7 miscellaneous cars.
OFFICERS.— Pres, and M gr., Meyer Schamberg; V .-P., C. B. Fraley;
Sec. A Treas., Patrick Grant.— V. 95, p. 1331; V. 98. p. 453; V. 107, p. 696.
TRENTON BRISTOL & PHILADELPHIA STREET RV.
ORGANIZATION. — Incorporated In Pennsylvania ns successor to the
Phlla. Bristol A 'Trenton, sold at foreclosure on Aug. 2 1909 to a bondhold
ers committee. V. 89. p. 349, 780. For dlatrlhutlon of securities of new
company by said committee to holders of certificates of deposit of predeces
sor company In Dec 1915, see V 101. p. 1975.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock, ($50)........ - ..................................................... $410,800
...................
1st mtge $750,000 ($1,000.1 1913
5 g M-S
410,800 Mar. 1 1943
$500 and $ 1 0 0 ) g ___ c*tflUnlon Trust Co. of M l., Balt.. Trusteo
Remaining bonds are reserved for corporate purposoa. Subject to call
43 a whole on any Int. date at 105 and Int.
No sinking fund.
EARNINOS.— For years ending Dec. 31:
Year—
Gross.
Net.
Taxes.
Interest.
Deprec. Surplus.
1917 -..$128,132
$38,462
$2,850
$20,577
. . - $15,335
1916 __ 98,647
31.345
2.400
21.042
1.622
0,381
ROAD.-Owns and operates 17)4 miles of track from Torresdale to Morrisvilla
Ralls 60 and 0 0 -lb girder and 72-lb T gauge 5 ft ‘I ‘■ Inches
‘j
12 passenger cars, 1 freight car, 5 work cars, 2 snow plows, 4 engines and
4 generators, 850 k.w. capacity.
OFFICERS. Pres.. Carl N. Martin: V.-P.. John Redwood; Sec. &
Treas., J. Elliot Newlln: Oen. Mgr., M. J. Hill, Bristol. Pa.— V. 96, p
654, 1158; V. 100. p. 1594; V. 101 p. 1975: V. 104. p. 766.
PHILADELPHIA RAILW AYS CO.— A trolley road.
ORGANIZATION.— Incorporated In Pennsylvania on May 13 1911 as
»uccessor to the Southwestern Street R y. sold at foreclosure Apr. 21 1911.
V. 92. p. 1375
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $400,000 ($50)................................................ $400,000
...................
1st mtge $400,000 gold ($500/ 1911
6 g M-N 15 400.000 May 15 1941
and $1,000)_________ c*tf I Int. at Real Est Tit Ins. A T r., Phlla. JTrus.
Bonds are red. on any Int. date at 105 and Int.
EARNINGS.—
Oross
Net
Interest A Depre- Surplus or
Cal. Year—
Income.
Income,
Taxes, elation.
Deficit.
1917 .............................$137,073 $28,776 $24 024 $6,000 dof. $1,248
1916................................ 122.431 30.866
23.646
7 .(K'0
sur.
220
1915.............- ................. 94.235
17.171
23.428
4,000 def. 10.257
ROAD.—Owns and operates 14 miles of track within limits of Phila
delphia. Also operates branch of Chester A Phlla. Rys. Co from Bow Creek
to Esslngton. 3)4 miles. Gauge. 5 ft. 2)4 h>
OFFICERS. Pres I H Siverman; Sec.. Alvin V From; Treas.,
V
Bonj. W olf.— V. 92, p. 1375; V. 100, p. 475; V. 106, p. 2560.
PHILADELPHIA & WESTERN R Y. CO.
ORGANIZATION, Ac. Incorpor. June 6 1907 In Pa. as successor to
the Philadelphia Western RR Co. In 1910 control was acquired by a syn
dicate headed by Kdw B. Smith A C o., of Philadelphia and New York.
Owns one-half of the capital stock of the Norristown Transit Co., which
road connects the Lehigh Valley Transit Co. with tho Philadelphia West
ern (see "R O A D ” below), and the entire capital stock of the Do Kalb
Realty Co. and the Interborough Electric Lt. A Power (Jo.
For proposed lino from Phlla. to Valloy Forgo, Pottstown, A c., of which
the Phlla A Western Ry. Is to form the terminal trunk lino, but take no
part In financing the plan, see V. 101, p. 024.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $4,000,000 ($50)........................................ $4,000,000 .....................
Pref $2,000,000 5% cum froml
Jan 1 1916 ($50)................ I ____
Q-J
2.000.000 Oct '18, 1)4
First mortgage $4.000.000( 1910
5 g J-J
2,630.000 July 11960
gold ($1,000)________ c *tf{ln t. at Phlla. Tr. C o., Phlla., trustee, or at
l Edw. B . Smith C o., Philadelphia.
htasPT., 1918.)
E L E C T R I C R A IL W A Y S
99
During year ending March 31 1918 company sold 47,367,773.20# cu. ft.
The com. & pref. stocks were listed on the Phila. Stk. Exch. In May 1917.
Bonds.— Of remaining bonds $370,000 aro In treasury. Subject to call of natural gas and 111 422 15 barrels of oil. On March 31 1918 owned or
controlled 1,864 gas wells and 3.413.52 miles of pipe not Including the
10 2 V and Interest on any Interest date on 60 days’ notice.
x
Dividends— First dlv. on prof, stock— U i % — paid April 15 1910; 194.28 miles of mains of the Allegheny Heating Co. Also owned or con
trolled 128 oil walls.
same rate quarterly since.
(2) Electric Light & Power.—The Philadelphia Co. controls through stock
EARN ING S.— For year ending June 30 (1917 report In V. 105. p. 122' :
June 30
Cross
Net(ufter Burch, of Interest
Preferred
Bala net. ownership the Duquesne Light Oo, whicn forms the electric light and
Year—
Earnings.
Taxes). Equip't. Charges. Dividends. Surplus. power division. See statement on a subsequent page.
(3) Street Railways.— These comprise about 657 m. of track, all operated
1916-17
$538,137 $252,39-1 $10,000 $131,500 (57e)S100.000 $10,894
1 9 1 5 -1 < ):.---‘19M8S 237!820 ........... 131,600 (1 * % ) 25.000 81319 (as a matter of convenience and economy) by the Pittsburgh Railways Co.
Passengers carried during year ending Dec. 31 1917, 3,553,603, against (except the Olairton St. R y.. Co., the Beaver Valley Traction Co. and the
Pittsburgh & Beaver St. Uy. C o., which are operated separately).
3,532,625 In 1916 and 3,200,252 In 1915.
.
In Feb. 1902 acquired the elevated railroad franchises which were
ROA1). —Operates a high-speed double-track road 17 .33 miles long between
Philadelphia, Norristown and Strafford, entirely on private right-of-way granted to Messrs. Bigelow, Oliver, Quay aud others. V. 74. p 478.
(4) Artificial Gas.— Also controls the Consolidated Gas and South Side
and connecting with Phila. Rapid Transit C o.’s subway-elevated system at
69th & Market Streets. Philadelphia, and with Penn. UR. main line at Gas companies forming the artlflcal gas department.
In Fob. 1906 the United Rys. Investment Co. of San Francisco acquired
Strafford Sta. An extension from Villa Nova into Norristown was placed
In operation on Aug. 26 1912- In Dec. 1012 connection was made with the control through purchase of $2 1 ,0 0 0 ,0 0 0 of the common stock, paying for
the stock acquired partly In Its own stock and partly In an Issue of Its coll,
Lohigh Valley Transit C o.’s lines at Norristown via Norristown (Vans t Co
and a through service established between Allentown and Philadelphia. trust bonds. In April 1907 acquired $3,200,000 more of the stock by an
In Dec. 1912 made a contract with tho Adams Express Co., under which other Issue o f coll, trust bonds; now owns $24,555,000 of the com. stock.
express cars are operated from Philadelphia to Allentown. Total tracks See statement of United Rys. Investment Co. under San Francisco and also
38.19 miles: gauge, 4 ft. 8 4 In. 85-lb. rail; 22 passenger cars, 2 express V. 82. p. 393, 988.
On July 30 1914 Judge Ford In the Common Pleas Court at Pittsburgh
and 3 flat, cars 1 snow plow. Total. 28.
OFFICERS.— Pres.. Thos. Newhali; V.-P. & Gen. M gr., J. L. Adams; held that under the terms of the old ordinance passed in 1884 the com
Sec. & Treas., Gerald Holsman. Offices (operating). Upper Darby P. O., pany is obliged to furnish free gas for all city departments and properties
including the case in question—the municipal hospital. The company
Pa. (executive), 1411 Chestnut St., Phila.— V. 106, p. 500, 818.
appealed and a decision favorable to lt was rendered.
In 1912 the company made an adjustment of Its accounts and relations
with the Pittsburgh Railways Co. It sold to the Pittsburgh Rys. certain
stocks of street railway and traction cos. Included in the Plttsb. Rys. C o.
IrT*Feb^*1917 II. O*Couch". Arkadelphia. Ark., and J. FI. Watkins, Mem system (book value, $8,265,000), and also turned over to the Railways Co.
phis and N. Y.. and associates acquired control
the bills payable of that co. and of certain underlying cos. i hook value, $ 1 0 ,
ORG A N IZA TIO N .— Inrorp. Mar. 13 1912 In Ark. and owns and oper 649.052) held by the Phila. Co. In return lt received $10,000,000 par value
ates the electric light and power, street railway and water supply properties 6 % debentures of the Railways Co.; Interest on these debentures is payable
In Pine Bluff. Franchises for street railway and electric-light system only If earned and Is non-cumulatlve. Soe report for year end Mar. 31
extend to 1951; water franchise to 1947, subject to the city’s right to pur 1913 in “ Chronicle” of May 24 1913. page 1499
chase at 5 -year Intervals.
In July 1916 the Equitable Coke Co. purchased from the Allegheny Coal
Wage Increase.— V. 105, p. 1709.
Co. all Its operating coal properties, including over 3.000 acres of coal land
Maturity. In Allegheny Co., and equipment. In order to Insure the coal supply re
STOCK AND BONDS—
Dale. Interest. Outstanding.
$700,000
.......
quired by the Phila. C o .’s subsidiaries for production of powor. The
Com stock. $1,006,000 ($100)
-Q ___ "
-M
Prof I ___ $1,0()0,000($100)----Equitable Coke Co. issued $1,500,000 3-year 5% gold notes, guar. p. & 1.
■ . 7% cum ,.,.J 8 B P B H P I-, 700.000
July ’ 18
First mtge $2,000,000 goldl 1912 M g J-J 1,083.000
Jan 1 194
ioli by tho Phila. C o., to effect the purchase.
($1,000) - ............. c*&r* .tf l Int. In N. Y. New York 1 rust Co., trustee.
Qcfault and Subsequent Payment of Interest on Subsidiary Co.'s Bonds.—
Preferred Stuck.— Pref. as to prln. and dlv.; red. at 115 on 60 days’ Soe Pittsburgh Rys. below. Also Consolidated Gas Co of Pittsburgh.
notice. A sum equal to 15% o f gross earniugs must be applied to maint.. On July 1 1918 the bondholders of the United Trac. Co. filed a petition in
renowals <&c., before paying com. stock dlvs. and a depreciation reserve Is tho U. S. District Court at Pittsburgh asking that the Phila. Co. and the
to be built from this charge up to $125,000. Pref. stockholders have full Pittsburgh Rys. Co. be jointly held responsible for payments due on
voting power
See V. 103, p. 1119, 1413.
United Trac. Co. 5% bonds. V. 107, p. 83.
Bonds. —$383,000 of outstanding bonds bear 6% Int.; rest 5 % . After
Equity Proceedings.— On Feb. 13 1918 the Equitable Trust Co., of W il
the first $1 000.000 bonds are out, further bonds may be Issued onlv up to mington, Del., filed a bill In equity in the U. S. District Court at Pittsburgh
8 5 % of cash cost of impts., add’ns or exta.. under restrictions.
Callable at against tho Philadelphia Company and its subsidiaries, asking tho Court
105 and Int. on any Int. date. Sinking fund o f 1% annually o f bonds out to restrain the defendants from limiting the supply of artificial gas in Pitts
Jan 1 1915 to 1924; 1 4 % 1925 to 1934, and 2% thereafter. $560,000 of burgh, and bring about the payment of all matured and unpaid Interest on
the outstanding bonds are registered as tax-exempt In N Y. State under the the outstanding bonds of the Consolidated Gas Co... V. 106, p. 822.
8ecured Debt Tax Law. V. 102. p. 976Dividends.— Quarterly dlv. of 1H % on pref. stock wore paid from March •SCHEDULE OF C APITAL STOCK OF OTHER CORPORATIONS
OW NED AND POSSESSED ON M AR. 31 1918
’
1917 to and incl. Jan. 19i8. In 1918, April, 1 Ji % ; July, 1M % .
Shares.
Total Issue.
EA UN I NOS.—
--------- Years ending Dec. 3 1 ---------------Consolidated Gas Co. of the City of PittsPeriod—
1917.
1916.
1915.
1914.
burghlowns stock of Allegh. Illg C o .). 1 8 O.OOO Common out of 80.000
Gross earnings.............................. $326,685 $273,379 $250,562 $272,219
2.962 Preferred “
40.000
Net. after taxes_____________ - 127.706
131,164
109.815
115.898 Consol. Gas Co. of O. of Pitts____________
129.850 Common
“
29.860
P R O PE R T Y .—Generating station o f 4,750 k. w. capacity; water pump Ohartlors Valley Oas C o.................
“
20.000
ing station with 2 triple-expansion service pumps o f 4.000,000 gals, capacity Pennsylvania Natural Gas C o _________________ 20.000“
13.927 ‘
“
13.927
each 4 wells, said to be over 800 ft. deep; 2 concrete reservoirs or over Equitable Gas Oo. of Pittsburgh_______
5.975Preferred“
5.976
3 000 000 gals, capacity: 52 miles of polo lines, lncl. the street railway dis Equitable Gas Oo. of Pittsburgh_____________
20.000
tributing system, and 2,948 meters; 37 miles of water mains, serving 2.768 South Side Gas C o ______________________ 15,521 Common “
“
37.500
customers’ meters, and 312 fire hydrants; street railway with 9 4 miles of Pittsburgh & W. Va. Gas C o___________ 37.500 “
do
do
22.500 Preferred
“
22.500
equivalent single-track of 70-lb. T rail; 21 “ pay-enter” cars.— V. 103, p. 668,
Allegheny F eating C o_______________________
T
z2,664Common“
4.754
1119. 1211. 1413; V. 104. p. 664; V. 105, p. 1709; V. 106, p. 397.
Consolidated Traction__________________ t/233.1 17 Preferred “ 240.000
Consolidated Traction._ __
______1/286.880 Common
“
286.980
United Traction Co. of Pittsburgh______
30 Preferred
“
60,000
16,000 Com o ing all the st’k.
Union Gas Co. of McKeesport_________
JOPLIN & PITTSIUJIU1 RA ILW A Y.— A trolley road.
"
ORGANIZATION — Incorporated June 10 1907 In Missouri. Took Pittsburgh Railways C o______________________ 60.000Preferred
"
over the Pittsburg Railway & bight Co. and the Joplin & Pittsburg Street Pittsburgh Railways C o______________________ 60.000Common
“
“
R R . V. 85, p. 469. The Pittsburg Ry. & Lt. Co. was incorporated In Duquesne Light C o ___________________ 217,260
200
“
“
Kansas In 1905 as a consolidation of the Pittsburg RR. and tho Pittsburg Pittsburgh Electric Power C o__________
Philadelphia Oil C o...... ............................ 40.020
“
“
Light & Power Co
In 1910 absorbed the Pittsburg & Kansas City Ry
5,000
“
“
(which company had acquired the Girard Coal Belt Elec. Ry ), and all bonds Braddock Gas & Light C o.......................
6.000
“
“
of that company were retired. Franchises In towns through which road Seventeenth St. Incline Plane C o_______
4,700
“
“
runs vary from 30 to 50 years and some are perpetual. Private right of way Pittsburgh A Beaver Street R y_________
Equitable Coke C o____________________
50
“
“
outside of citl»s and towns
50
An Incroaso In passenger rates from 1.93 cents to 2 cents per mile was Equitable Equipment C o___________________
Mansfield & Chartiers Gas C o-------------500
“
“
auth. by tho M o. P. H. Comm., effective April 22 1918.
C qsm osO ilC o._______
2.860
“
Wage Aivard by War Labor Board.— V. 107, p. 501.
480
“
“
Strike.— A strike begun on Fob. 12 1918 was ended Mar. 21 1918, the Moral nitelde Electric Street Ry. C o_____
Tho Philadelphia Co. of West Virginia.. X20.000
“
“
men returning to work under old conditions. V. 106. p. 1689.
21.500
“
“
STOCK AND BONDS—
Dale.
Interest. Uuistunaiug. Maturity. Beaver Valloy Traction C o ____________
Six miscellaneous street railway cos___
1,092
“
“
Stock common $5.000.000----- — — ------------$3,300,000 ___________
All of the above shares marked thus, x, are In the hands of the Mary
Prof, rights $2,000,000 6%
land Trust C o., trustee under the first mortgage, and collateral trust
cum from April i 1 9 1 6 .... v.._.
---------- - 800.000 ________
dated March 1 1899. Those marked y (with the exception of 39,646
*...............
1.750.000 Mch 1 1930
First mortgage $5,000,000 1910 5 g M-S
($600 & $ 1 ,0 0 0 ) . . _g c * .t f Harris Trust & Sav. Bk Chic., & 8t. L shares Consol. Tract, common and 157 shares Consol. Trac pref. held In
treasury of Philadelphia C o.), are held as security for the collateral trust
U U. A1 VD. WU VCw
O
Un. Tr.. Co.,, trustees..
0 A -O
, 1.050,000 April 1 1920 bonds of 1901, and these latter bonds are also a second lien on the shares
General mortgage $1,0503)00 1913
market! r.
Central Tr. Oo. of Illinois. Chicago. Trustee
♦On Mar. 31 1918 the value of stocks and bonds of other companies
SIode.— Pref. rights are 6% cumulative from April 1 1916 and also share In
earnings aftei common has received 6 % ■ $95,600 have been retired. The owned was $65,037,784.
rights will eventually be exchangeable for preferred stock, but as yet no
♦SECURITIES OUTSTANDING (AS OF M A R. 31 1918).
arrangement for tills transfor has been made.
STOCK AND BONDS—
Date.
Interest. Outstanding 1 n*ldiv.,&c.
Bonds.— Remaining first mtge. bonds are reserved for extensions and
$42,943,000 Oct.’ 18, 1H
.........
additions at 80% of cost, but only when previous year’s net earnings are Stock com $44,900,000 ($50).............
6,76:1.550 Nov. 18,3%
Pref stock $25,000,000 ($ 5 0 )1 -----6 M -N
twice Interest on houdx out aud to he Issued. > Subject to call at 103 and
6 % c u m .............................J
Interest on any Interest date on twenty days notice. No sinking fund
1,412 450 Sept’ 18, 2H
5 M-S
Int. Is payable at Harris Trust & Sav. Bank, Chicago; Harris, Forbes & Pref stk, 5% non-cum ($50) -----6.381.000 Mch 1 1949
5 g M-S
C o., N. Y . or any of the offices of K. IF. Rollins & Sons
V. 90. p. 914. Phil Oo 1st & Col Tr M S6 .-J 1899
500,000 g ($1,000) c*. .t f (Maryland Trust Co., B .l imore. Trustee.
General morttoitfu hond« wore issued In exchange for debentures o f 1910Phil Co con M & col tr $22.-' 1901
6 g M -N
14 81 4,000 Nov 1 1961
EARNINGS.— For fiscal years ending Juno 30:
000,000 g ($1,000)___ c*tf\Coutlnental Trust Co.. Baltimore, Trustee.
Year—
Gross. Net (aft. 7axes). Bond Tnt.
Surplus.
5 g F-A
1.957.000 Aug 1 1919
1917-18__________________ $637,520
3197,737
$150,500
$17,237 Conv deb $2,600,000 gold, 1909
($1.000)....... ........... c
New York Trust Co . trustee.
1916-17...... ......................... 644.682
168,778,
150.500
18.278 Conv deb $10,000,000*.-tf'In terest at g M-N
goldl 1912 5
9,794.000 May 1 1922
ItO A l).—Owns and operates 10.L12 miles of track, embracing some
($1,000 or £205 15s.2d)c*tf (New York Trust Co.. N Y . trustee.
local street railway lines In Joplin. M o., and all In Pittsburg. Kan and
1913
6 *
250,000
See text
Interurban lines connecting the two cities, and also Pittsburg with Erontenac, Phila Co collateral gold notes JInt at UnionF-A
$2,600,000 ($5,000)
tf
Trust Co . Pitts, trustee.
Dunkirk, Radley. Franklin, Arraa, Croweburg. Mulberry and Girard and
7.000.000 Apr 2 1919
Oollat gold notes, $7,000,000 1917 5M g A-02
Cherokee. Mineral. Weir City. Scammon and Columbus
70-lb rails.
New York Trust C o., N Y .’ trustee.
($ 1 ,0 0 0 & m ultiples)..c&r
It Is proposed to extend the line into tho Lawton-Waco zinc fields. 1 ^
5g
220.000 Oct 1 1929
Union Gas Co., McKeesport 1899
miles, at an early date, and later on into Lawton.
1st mortgage g s f ________ Union Trust C o., Pittsburgh Trustee.
OFFICERS. - Pres.. Joseph J. Heim; V.-Ps., J. W. Ground and O. O
Interest at Mellon Nat Batik, Pittsburgh.
Snider; Sec. and Treas.. John A. Prescott; Aud. & Asst. Sec.. E. S Bigelow,
5 g A-O
900 O()0
See text
Plttsb. & W. Va. Gas coll. 1913
all of Kansas Oltv M o Oon Mgr. W A Sattwlee. Pittsburg Kan
tr $1.500.000 ($1,000)c* .tf Int. at Union Tr. Oo.. Pittsburgh, trustee.
General office. 919 Baltimore Ave., Kansas City, M o. Operating head
5 J-J
1,469,000 Jan 11920
Equitable Coke Co notes g 1917
quarters. Pittsburg, Kan.— V. 105, P- 1898; V. 106, p. 1689; V. 107, p. 501.
guar p & i by Phila C o____
at
PINE BLUFF, ARKANSAS.
PITTSBURG, KANSAS.
PITTSBURGH, PA.
PHILADELPHIA COMPANY,
10,
O R GAN IZATION .— Organized on May 24 1884, and was originally a
natural gas company. Operates under special Act of the Legislature of
Pennsylvania (conferring many valuable rights and privileges) granted to
Its predecessor, the Empire C o., In March 1871. Franchises of the com
pany and Its subsidiaries, with a few minor exceptions, are perpetual or
for 999 years. Its business may be classed under the following heads:
(1) Natural Gas and Oil.— Philadelphia Co., through Its own lines and
those of a number of cos. controlled by It. supplies nearly all the natural gas
consumed In the city of Pittsburgh and the manufacturing towns lying
along the Monongahela and Allegheny rivers. Company controls by
lease 606.201.50 acres of gas and oil lauds In West Virginia, Ohio and Wes
torn Pennsylvania. In 1913 the Plttsb. & West Virginia Gas Co. pur
chased the Monongahela Natural Oas Co. by the issue or $1,500,000 coll
trust notes (see below) The principal natural gas companies controlled aro:
The Philadelphia Oo. of W Va.
Union Oas Co. o f McKeesport
Ohartlors Valley Oas Company.
Allegheny Heating Company.
Equitable Oas Company
Pittsburgh & West Virginia Gas Co.
Pennsylvania Natural Gas Co.
♦ This table does not cover such properties as are separately reported
further on
Stock.— Stock authorized was Increased In February 1899 from $7,500,000
to $2 1 ,0 0 0 ,0 0 0 , of which $6 ,0 0 0 ,0 0 0 was 5% non-cumulatlve preferred.
The Increase was made to acquire the stock of the Allegheny Co. Light Co.
(acquired by Duquesne Lt. C o.), Chartiers Val. Gas Co and the com. stock
of the Consolidated Gas C o.; also by exchange the United Trac. stock. On
Dec. 4 1901 stockholders auth. an Increase to $36,000,000 tnrough the issue
of $15,000,000 additional com. stock. The Increase was mainly for the pur
pose of acquiring the shares of the Consolidated Trac. Co and the Southern
Traction Co. V. 73, p. 1112. In Aug. 1906 authorized common stock
was further Increased to $36,000,000. mainly to provide for the purchase of
the Beaver Valley Traction Co. and Washington & Cauonsburg Ry
V. 82.
p. 1323. July 22 1909 $5.000,00C additional common stock was auth. to
provide for the convertible feature of convertible debentures auth at the
same time but any shares not so used to be available for the general pur
poses of the company. V. 8 8 , p. 1314; V. 89, p. 225
On Dec. 28 1916
authorized amount of com. stock was Increased from $42,400,000 to $44,
900.000, the new stock being Issued to pay off floating debt. V . 101.
p. 1465: V. 102, p. 6 8 .
E L E C T R I C R A IL W A Y S
1 0 0
On Apr. 29 1912 shareholders voted to authorize $25,000,000 ($50) 6 %
cum. pref. stock and $10,000,000 conv. debentures. Of the new stock
,0 0 0 .0 0 0 was for exchange o f existing preferred stock (upon basis of
■hare for share and a cash paymont to the company of $ 2 50 per share,
and $10,000,000 for conversion o f convertible deoentures. The remaining
$9,000,000 Is reserved for future requirements. See financial plan In
V. 94, p. 417, 488, also V. 94, p. 500. $8,000,000 has been listed on the
New York Stock Exchange. As of March 31 1014, when the original offer
for exchange o f 5% pref. stock for 6 % pref. stock expired, $3,966,000 had
been exchanged, leaving $2,033,400 or the old pref. stock outstanding. In
M ay 1916 further opportunity for exchange o f stock to and Including
July 15 1916 was given (V. 102, p. 1897) and holders o f $590,960 stock took
advantage o f the offer, leaving $1,442,450 old pref. stock outstanding. Up
to Mar. 3l 1918 $206,000 debentures had been converted Into 6 % cum.
pref. stock, leaving $9,794,000 outstanding as of that date.
The Philadelphia Company stock has been listed on the New York Stock
Exchange since October 1886, and is also listed on the Phila. Exchange.
See application to the N . Y . Stock Exchange In V. 70, p. 1198, and also In
‘ ‘ Chronlcla" o f Fob. 22 1902. In March 1911 stock was listed on the Paris
Bourse. V. 92, p. 726.
The Phil*.Co.In Ja0.19O8 offered to guarantee 4% per an. from Aug. 1
1907 on the $2,000,000 pref. stock o f Consol. Gas Co. (entitled t o 6 % cum.),
provided additional earnings be divided equally between the two classes of
stock, but pref. not to receive more than 6 % In any event. Holders of 75%
of the $2 ,0 0 0 ,0 0 0 pref. stock having agreed to the proposition, the plan was
adopted. V. 8 6 , p. 54,605.
Bonds.— The bonds of 1899 are listed on the Phila. and Pittsburgh Stock
Exchanges. Of the $22,000,000 bonds o f 1901. $6,500,000 are roserved
to take up the $6,5OO,O0O 1st coll, trust bonds and $352,000 to acquire
pref. stock o f Consol. Traction Co. They are free of Pa. State tax. For
security for the bonds see V. 102, p. 801. Listed on Phila. Stock Exch.
Under a plan dated Feb. 27 i9 i7 (see V. 104, p. 953) sinking funds were
established beginning Mar. 1 and M ay 1 1918, respectively, to retire and
cancel bonds by purchase or call, by applying thereto each year a sum equal
to 2% o f the principal amount of such o f the $6,500,000 outstanding 1st M .
and Coll. Trust 5s due Mar. 1 1949 and of the $15,148,000 Consol. M . A
Coll. Trust 5s due Nov. 1 1951 as agreed to the plan. Assenting bonds
are stamped as subject to call as a whole or when drawn by lot for the sink
ing fund at 107)4 and int. for the 1st M . and 1021$ and Int. for the consols.
$5,616,000 1st M . and coll. tr. 5s and $13,807,000 consol. M . and coll. tr.
5% bonds wore so stamped, but $119,000 1st M . and coll, trust 5s and
$334,000 consol. M . and coll. tr. 5s havo beon cancolcd through operation
of the sinking funds, leaving $5,497,000 and $13,473,000, respectively.
Stamped bonds havo been listed on tho Phila. Stock Exch., and application
will bo made to havo thorn listed on tho N. Y . Stock Ex. In caso tho bonds aro
called as a whole, they may bo canceled or kept alivo, as tho co. may elect.
Convertible Debentures.— Stockholders on July 22 1909. confirmed the pro
posal o f directors to Issue $5,000,000 ($2,500,000 out) 10-year 6 % deben
tures, convertible. $ for $, into com. stock at any time. Subject to call at
1 0 2 1 $ &nd int. on any Int. date on 60 days' notice, but If called, owner has
option of accepting cash or converting Into com. stock. V. 8 8 , p. 1314;
v . 89, p. 225, 1545. $543,000 have been converted. Debentures are
listed on N . Y . Stock Exchange. V. 90, p. 303. In June 1910 It was
voted to Issue, In lieu o f remaining $2,500,000 deb., £500.000 conv. 6 %
sterling deb., conv. at any time into com. stock. All these dob. were cornverted Into $2,500,000 stock on Feb. 1 1911. V. 92, p. 262.
The convertible debs, o f 1912 are convertible into pref. stock at any time
after Jan. 31 1913 at par. Up to M ay 1 1918 $206,000 had beon converted.
Ked. at 102)4 and int. on any int. day on 45 days’ notice. Int. payable In
N . Y . and London. Debs, are listed on N . Y . and Phila. stock exchanges.
V. 95, p. 891, 1473.
Coll. Trust Cold Notes.— Principal Is payable $250,000 each Feb. 1 and
Aug. 1 from Feb. 1 1914 to Aug. 1 1918 Incl.; $2,500,000 retired.
The Pittsburgh A VV. Va. coll, trust 6 s mature $150,000 each Oct. 1
from Oct. 1 1914 to Oct. 1 1923 incl. N o s. fd., but subj. to call, any part
or all, on any int. date at par and int. on 30 days' notice. Guar. p. A 1. by
Philadelphia Company. $600,000 retired.
Two-year 5H % coll. a. notes.— Issued to (a) refund $2,000,000 Coll. Trust
gold notes, due May 1 1917; (6 ) refund $650,000 funded debt which matured
during the fiscal year ending Mar. 31 1917; (c) reimburse the treasury In
part for capital expenditures made during the year; (d) provide $3,000,000
for the capital requirements o f the Duquesne Light Co. Secured by de
posit of $8,400,000 common stock o f Duquesne Lt. Co. V. l04, p. 1400.
D IV 8 .—
1 '95. '90. '97. '98. '99. 00. '01. ’02-'09. '10. ' l l . '12. '13.
P ercen t.......... \ 5 None
4 4*A 5 5 X 6 % y ’ly 7
7 8H 7
The foregoing dlvs. are for the com. stock. Tho old 5% non-cum. prof,
was created In 1899, and first seml-ann. paym't of 2)4 % was made In Sept.
1899 and have been regularly continued since then. 1st dlv. on now 0 %
cum. pref.— 3% — paid M ay 1 1913: same amount seml-ann. since to and
lncl. N ov. 1918. On com. in 1914, Feb., 1J*% ; M ay, 1)4% ; Aug., l% % .
Tho N ov. dlv. was paid In scrip bearing hit. at 7% . The Feb. 15 1916
dlv. was also paid In scrip (V. 100, p. 141). Both series o f scrip were called
for payment on Feb. 1 1918 at par and Int. V. 102, p. 345. In May 1915
a cash dlv. of 1)4% was paid; A u g ..1)4% ; N o v ..1)4% . In 1916. 6 )4 % .
in 1917. 7% . In 1918, 6 % .
Linear Tax Decision.— For decision o f Supreme Court of Pennsylavnla.
declaring the linear tax ordinance invalid, see V. 80. p. 1729.
Application Denied.— Attorney-General Todd o f Pennsylvania on Oct.
24 1907 denied the application of city authorities o f Pittsburgh for permis
sion to bring quo warranto proceedings to forfeit tho company’s charter,
see V .8 5 ,p . 1083.
REPO RT.— Report for years ending Mar. 31: [Philadelphia C o., Equit
able Gas C o., Monongahela Natural Gas C o., Pittsburgh A West Virginia
Gas Co., Tho Philadelphia Co. of W. Va. and tho Philadelphia Oil Co.
Transactions between cos. eliminated. 1918 report in V. 106, p. 2645.
Receipts—
1917-18.
1910-17.
1915-16.
1914-15.
From gas.........................1
( $9,171,612 $7,990,132 $7,037,719
(a)
(a)
217,747
From oil.......................... V ll,332,440
Miscellaneous...............-J________
l
38,536
38,387
33,287
$6
Gross earnings...........$11,332,440 $9,210,148 $8,028,519 $7,288,753
Operations, taxes, A c .. 5,881,970
4,093.992
3,405*,040
3,400,884
Net earnings................. $5,450,470
Dlvs. and int. received. 2,030,163
Rents...............................
650
Interest, discount. & c._
693,275
$5,116,156
a2.405.997
693
424.192
$4,623,473
a2 ,192,968
008
404,471
$3,881,869
1,803.097
642
508,787
Total income................. $8,174,558
Deduct—
Paid leased companies..
$22,047
Interest on bonds, & c._ 2,131,868
New wells, lines, A c____ 1,207,583
Depreciation of property
282,633
Discount, taxes, &c., on
securities.sold_______
162,000
Interest, discount, & c ..
154,236
$7,947,038
$7,281,520
$6,194,395
$23,080
1.796,499
1,215,180
153,497
$22,566
1,906.825
802,167
163,770
$23,694
1,940.548
838.220
193,575
57.500
235,450
64,965
386,268
74,941
208,655
T o ta l............................. $3,960,367 $3,481,212 $3,346,561 $3,279,633
Balance for year............... $4,214,191 $4,465,826 $3,934,959 $2,914,762
Consol. Gas guaranty..
74,076
74.076
77,576
78,194
D lv. on pref. stocks___
477,519
476,644
471,960
471,941
Dlv. on com. stock(6)4 %)2,898,427 (7)3,005,772 (6)2,363,364(514)2049507
T o ta l.............. $3,450,022
$3,556,492 $2,912,900 $2,599,642
Sur. or def. for year.._sur.$704,169sur.$909,334 sr$l,022,053sur.$315,120
a Income from oil In 1916-17 and 1915-10 Is Included In “ Dlvs and Int.
received” In the form of dividends on stock of the Phila. Oil Co. Results
of that co. for year end. Mar. 31 1917, wore: Gross, $368,527; total net
Income, $254,638; deductions, $71,448; dlvs. (5 % ), $100,050; surplus, $83,
139. In 1916: Gross, $277,273; total net income, $198,873; deductions.
$56,930; dlvs. (5 % ). $100,050; surplus, $41,887.
LATEST EARNINGS.— For 4 months ending July 31:
----------- Gross----------- ---------------Net--------------Department—
1918.
1917.
1918.
1917.
Natural gas........ $3,619,559
$3,160,876 $1,796,670 $1,640,648
Oil____________ _______
244,756
191,810
194.736
152,852
C oa l____________ _____
408,284
618,263
100,237
392,735
Electric light and power 3,693,275
2,778,256
1,390,535
854,031
Street ry.(oxcl.Pitts.Rys.) 184,459
167,126
19,131
43,141
OFFICERS. Ac.— J. H. Reed. Pres.; James D. Callery, V.-P.; O. J.
Braun Jr., Treas.; W. B. Carson, Sec.; C. S. Mitchell, Comp.; Carroll
Miller, Gen. Mgr. Office, 435 Sixth Ave., Pittsburgh, Pa.— V. 106, p.
2645, 2050. 2655; V. 107, p. 83. 291, 604.
[Vol. 107
STREET RAILW AYS.
(1) Pittsburgh Railways C o.— A trolley road.
Receivers Appointed.— On April 23 1918 II. S. A. Stewart, J. D . Callery
and C. A. Fagan were appointed receivers for this co. upon application of
tho American Brake Shoo & Foundry Co. and the St. Louis Car C o., it
being alloged that revenues wero insufficieut to meet maturing obligations
and that there was Immediate danger of the system being dlsmombored by
bondholders of tho underlying corporations. V. 106, p. 1797.
Default — Subsequent Payments.— Tho company failed to pay tho Jan. 1
1918 interest on tho bonds of tho following subsidiaries and the direc
tors of the Philadelphia Co., which was already a creditor of tho Railways
Co. for a large amount, refused to make it further loans: Central Traction
C o., Duquesne Traction Co., Federal Street & Pleasant Valley Passonger
Ry. (General and Consolidated Mtges.), Pitcairn & Wilinerdlng Street R y .,
Pittsburgh Canonsburg A Washington Ry., Pittsburgh Crafton A Mansfield
Street R y., Pittsburgh Incline Plano Co., Pittsburgh & West End Passenger
R y., Second Avenue Traction C o., United Traction Co. of Pittsburgh,
Washington A Canonsburg Ry., West End Traction C o.. West Liberty
Street R y., West Liberty A Suburban Street Ry. All the Jan. 1 1918
coupons on tho foregoing issues, except on the United Traction 5s, were
paid in March 1918. V. 106, p. 930, 1232. In Sept. 1918 it was an
nounced that tho following July 1 and Aug. 1 1918 coupons would bo paid
upon presentation at tho designated banks in Pittsburg: Bloomfield St.
Ry. at Pittsburgh Trust Co., Washington Elec. St. Ry. at Union Trust C o.,
Brownsville Ave. St. Ry. and Pitcairn A Wilinerdlng St. Ry. at Mellon
Nat. Bank, Duquesne Trac. Co., and Central Trac. Co. at Fidelity Titlo
A Trust C o., and Pittsb. Canonsb. A Wash. Ry. at tho offico of the co.,
435 Sixth Avo., Pittsb. On July 1 1918 and again on Sept. 13 1918 Judge
Charles P. Orr in tho U. S. Dist. Court at Pittsburgh sustained tho con
tention of Receiver Fagan that the payment of certain fixed charges would
hurt the company financially and ordered tho payment thereof to bo de
ferred. V. 107, p. 83, 1193.
Bondholders' Protective Committee.— See United Traction Co. of Pitts
burgh below.
Valuation Board Created.— In March 1918 tho P. S. Comm, appointed
a committee to ascertain tho physical valuation of tho co.’s properties and
to recommend faro rates which will yield it a fair return on its investment.
In Aug. 1918, under orders from the P. U. Comm., tho receivers ap
pointed a board of three (A. J. Kelly, Henry P. Haas and J. W. Cree) to
make tho valuation. V. 107, p. 697.
This was formerly the Southern Traction C o., but In accordance with the
authority vested in it by the terms of Its charter, the directors of the South
ern Traction Co. on Dec. 30 1901 voted to change the name of the company
to the Pittsburgh Railways Co. The Philadelphia Company had previously
acquired all the stock, common and prof., of the Southern Traction, in
accordance with the tornis in V. 73, p. 1112.
The Southern Traction Co. was chartered In 1900 to take over, oxtend
and operate the West End Traction lines, which were purchased in Aug. 1900
fof* $4,500,000.
Leases tho Pittsburgh A Castle Shannon R R . for 99 years, rontal being
$15,000 per annum. See V. 81, p. 778.
Tho following stocks (being in eacn case the entire issue) aro owned:
50.000 shares common stock of the West End Traction Co.
60.000
“
preferred stock of the West End Traction Co.
340,000 “
common stock
of United Traction Co. of Pittsburgh.
68,999 “
preferred stock of United Traction Co. of Pittsburgh.
6.000
“
commonstock of Allegheny Bellevue A Perrys v illeR y. Co.
300 "
“
“
Allenport A Koscoe Electric St Ry. Co.
120 “
“
“
Ambrldge Dlxrnout A Emsworth St.Ry.Co.
2.000
"
“
V
Ben Avon A Emsworth St. Ry. Co.
80 '*
“
“
Cedar Avenue St. liy. Co.
OO “
O
“
"
Clalrton Street Ry. Co.
6.000
'*
“
“
East McKeesport Street Ry. Co.
30.000
'•
"
"
M t. Washington Street Ry. Co.
1.590 *
*
*
“
Pittsburgh Canonsburg A Wash. R y. Co.
1,400 “
"
“
Pittsburgh Express Co.
60.000
“
"
“
Pittsburgh A Charleroi St. R y. Co.
200 “
“
“
Rosslyn Street Ry. Co.
80 “
“
"
Superior Ave. A Shady Ave. St. R y. Co.
24 "
“
“
Tustln Street Ry. Co
20.000
“
"
“
Washington A Canonsburg R y: Co.
480 "
"
“
Washington A Claysvllle Street Ry. Co.
500 “
"
"
West Shore Electric Stroet Ry. Co.
120 “
“
“
Virginia Avenue Street Ry. Co.
400 “
"
“
McKees Rocks A Ingram St. Ry. Co.
300 “
"
“
McKees Rocks A Neville Isl. St. Ry. Co.
120 “
"
“
Crafton A Chartlers Valley Tract. Co.
400 “
“
“
Pitts. Banksvllle A M t. Lebanon S. R . Co.
100 *
*
“
“
Carnegie Bridge Co.
120 “
"
“
West Liberty A Suburban St. Ry. Co.
100 “
“
“
McKees Rocks A Allegheny Street Ry.
174 11
“
"
Bon-Alr Streot Ry.
120 “
“
“
Clalrton A Blair Street Ry. Co.
168 “
“
“
Pine Run Street Ry. Co.
Also owns 100 shares pref. stock of the Consolidated Traction Co.
By the terms of au operating contract, effective Jan. 1 1902, tho Pitts
burgh Rys. O o.-assumed control of all tho properties of the Consolidated
Trac. C o., the United Trac. Co. of Pitts, and their underlying companies.
Over-crowding Ordinance.— On Feb. 7 1911 Common Pleas Court N o. I
rendered a decision restraining city from entering or prosocutlng any suit
upon so-called over-crowding ordinance, enacted July 30 1910. V.92, p. 463.
Decision.—For decision by Pa. Supremo Court, holding that city cannot
collect tolls for use of Point and Smlthfiold St. bridges, see V. 96 p. 1090.
Fare Decision.— In July 1918 the Ponna. P. S. Comm, hold that tho
State constitution does not auth. municipalities, through contracts with
railway cos., to take away from tho people tho right to regulate fares. This
decision was handed down In the case of the Borough of Wllkonsburg against
the co. based on Its notice of proposed Increases In rates. V. 107, p. 402.
Fares.— On M ay 19 1918 the receivers announced tho establishment of a
now fare schedule which went into effect on June 20 1918, providing for a
7-cent day fare on some of tho longor routes and a universal 10-cont night
fare. For complete details of this scliedulo seo V. 106, p. 2050, 2758.
Rates.— In Sopt. 1918 filed with tho P. S. Comm, a new schedule jjrovlding for increased power rates effective Dec. 17 1918.
STOCK AND BONDS—
Dale.
Interest.
Outstanding. Maturity.
Com. stock, $2,500 ,000 ..($5 0)............................ $2,500,000 ................. ..
Pref. 6 % .cum, $2.500.000($50).............................
2.500.000 ............... .
Gon mtgo. $20,000,000, rodl 1913
5 A-O
2,539,000
1953
at 105 A Int aft Apr 1918.tfj Guaranty Trust Co.. N. Y ., trustoe.
Income debs. $ 1 0 ,0 0 0 .0 0 0 . - t f 19)3
10,000.000
i-._
f 1911 5 M - 8
108,000 See text.
Oar trusts $270,000 ($l,000)-( Int. at c o .’s offico. Fidelity Title A Trust
tf I C o., Pittsburgh, Trustoe.
f 1913 6 M-S '
284,000 See text
Car trusts $450,000 ($1,000)-{In t. at co’s offico, Fidelity Title A Trust Co.,
tf I Pittsburgh, Trustoe.
Car trusts $110,000 ($1,000).. 1 1916
5 A-O
88,000
See text
/Colonial Trust C o., Pitts., Pa., trusteo.
Bonds.— Of the gen. mtge. bonds, $4,000,000 are to retire Southorn Trac.
bonds and $13,401,000 (of which $3,461,000 In treasury) are for extens.,
betterments and irnpts. V. 97, p. 444, 060. Phila. Co. owns $417,000
of Gen. M . 5s outstanding and the $10,000,000 Income debentures. Oar
trusts of 1911 mature $27,000 annually Mar. 1 1913, to 1922. $162,000 have
been retired. Car trusts of 1913 mature Mar. 1 1914 to Sept. I 1925 incl.
$166,000 have been retired. Car trusts of 1910 mature $11,000 annually
April 1 1917 to 1926. $22,000 have been retired.
Guaranteed Bonds—
Date.
Interest. Outstanding. Maturity.
West Liberty A Sub. St. lstl 1908 5 g J-J
$250,000 Jan 1 1938
M $250,000 ($1,000) g - - t f I Int. at Colonial Tr. C o., Pittsb., trustee.
Debt of Old Southern Trac. Co.—
So Trac 1st M , coll tr, g, $4,-/ 1900 6 g A-O
4,000,000 Oct 1 1950
000,000 ($1.000)____c * -t flln t . at Union Tr. C o., Pittsburgh, Trusteo.
West End Traction gen M,J 1898 5 J-J
981,000 Jan 1 1938
$1.500.000____________ tf l Int. at Union Tr. C o., Pittsburgh, Trustoe
Underlying loans of West End Traction—
Pittsburgh Crafton A Mans-J 1894 5 J-J
176,000 July l 1924
field 1st M _____________tfi Int. at Pittsburgh Trust Co.,Pittsburgh.
Pitts A West End 1st M _ tf 1892 6 J-J
_
343.000 July 1 1922
Bonds.— The Southern Traction mortgage cannot bo called boforo
maturity. Philadelphia Company owns $24,000. Tho Farrnors' Doposit National Bank of Pittsburgh offered tho bonds for sale
in Oct. 1900. Seo V. 71, p. 864. Of tho portion of tho 5s of 1898 of
the West End Traction «till unissued, $619,000 aro roeerved to rotlre under
lying bonds. Bonds of the West Liberty A Sub. St. aro guaranteed by
Pitts. Rya. Co., they are not subject to call, and have no sinking fund.
Sept ., 1918.)
E L E C T R IC
R A IL W A Y S
1 0 1
..........
'"A N N U A L REPO RT.— All companies owned, controlled and operated by remarks above. On common. H % paid July 2 1903 and J4% each six
Pittsburgh Railways Co. for year ending March 31 (see V. 107, p. 77):
months to and including Jan 1912. In July 1912, M % . None since.
sludlng Jan.
1918.
191
1918.
1917.
Bonds.— The new United Traction mortgage Is limited to $10,000,000
$
%
$
$
bonds cannot be redeemed before maturity; Maryland Trust Co. or Balt642,953
414,702 more is trustee. Of these bonds, $5,196,000 are reserved to retire the divi
Gross earn s..13,907,890 13,350,349 Interest_____
Not (aft.taxes) 3,094,004 4,298,312 Rent, l’s’d line 2,895,352 2,948,000 sional bonds above mentioned. Bonds are listed on the Philadelphia and
152,414
Other Income.
128,589
172,082 Mlsc. int., &c.
131,978 Baltimore Stock Exchanges.
L IIU/UUIO. .).^0,w.i.)
/bcil
jjaiaiiuu, mup.ui.'tui
973,714 tj , i R O A D .—Controls 240.343 miles o f track in all.
x•
.i
*
Total income. 3.223,053 4,468,394 Balance, surp.df.46/,665 ,oou
From the deficit as above In 1917-18 ($467,665). there wore added disc’t
RE PO RT.— Not now an operating company.
on securities sold, $3,401: deferred account, portion written off, $91,278,
OFFICERS.— Pres., James D. Callery; V .-P ., J. H. Reed; Sec., W . B.
and extraordinary expenditure for impts., &c., $8,189, making a total Carson; Treas., O. J. Braun Jr.; Controller, O. S. Mitchell. Office, Pitts
burgh, Pa. Financial agents. Alexander Brown & Sons. Baltimore. M d.—
deficit for the year of $570,533.
Latest Earnings.— See Philadelphia Co. above.
V. 104, p. 1389; V. 106, p. 8 8 . 397, 823, 1127, 1232, 2451; V. 107, p. 83.
ROAD —The Pittsburgh Railways Co. operates 605.25 miles of track in
LINES CONTROLLED BY U N ITED TRACTION CO. OF P ITT S.
Pittsburgh and outlying boroughs.
Equipment consists of 1,441 closed
(a) Federal Street & Pleasant Valley R y.— Trolley.
cars, 371 open cars and 235 miscellaneous cars. Has long-time contract
Default and Subsequent Payment.— See Pittsburgh Railways above.
with Duquesne Light Co. for supply o f light and power.
ORGANIZATION.— Incorporated Feb. 20 18(58, and has since consoli
OFFICERS.— Chairman of Board, J. D. Callery; Pres., S. L. Tone;
V.-P., J. II. Reed: Gen. Mgr., P. N. Jones; Sec., W. B. Carson; Treas., dated its various subsidiary companies. The franchise is perpetual.
The North Side Traction Co. on July 20 1896 leased the Federal Street S
c
O. J. Braun Jr.; Controller, C. S. Mitchell.— V. 106, p. 2011, 2123, 2230,
Pleasant Valley for 960 years, assuming Its debt, and agreeing to pay as
2451, 2650, 2758; V . 107, p. 7 7 , 83, 1S2, 402, 502, 697, 1101, 1193.
rental all taxes, rentals & c., and also $70,000 yearly In cash, payable Jan. 15
(a) Mount Washington Street Ry.— A trolley road.
O R GAN IZATION .— Incorporated in Pennsylvania on Oct. 8 1901 and and Ju|^ 15, equ al^ to^ ^ on the $1,400,000 stock, of which It owns $750.later absorbed the Sycamore Street R y. Alio owns the entire ($500,000)
STOOK AND BONDS—
Date.
Interest. Outstanding. Maturity.
capital stock o f the Mount Washington Tunnel Co. Stock o f tho Mount
5 J-J
$1,400,000
See text
Washington Street Ry. is owned by the Pittsburgh Rys. The road is Stock (par $25) . full p a id ..
,°U
5 g J-J
1,073.000 M ay 1 1942
leased to the Pittsburgh Railways Co. for 995 years from April 1 1903 for 0 eS s Sj®e ’ $1,250,000. g. J 1892
($1,000), on 28 m iles..c*tf lin t. at Fidelity Title & Tr. Go.. Pittsburgh.
all charges, including bond interest.
Underlying mortgages—
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. Fed St & PI Val mtge______ tf 1889
6 J-J
92.000 July 1 1919
- - - - - - - - $1,500,000
.................. Allegheny & Bell 1st m tg e .-tf 1890
Stock, $1,500,000 ($50).........- - - - 6 J-J
18.000 Nov 1 1920
1st mortgage and col tr,( 1903 5 g A-O
1,600,000 April 1 1933
Allegheny St 1st mort_____tf 1890
5
27.000
1920
$1,500,000. gold ($ 1 ,0 0 0 ) , iPenn. Co. for Insurances on Lives & Grant- Perry St 1st mortgage______tf 1890
5 J-J
3,000 Nov 1 1920
guar, prln and Int__ c * .t fl ing Annuities, Philadelphia, Trustee.
5 J-J
Troy Hill 1st mortgage______t f 1890
37.000 Nov 1 1920
Bonds are guaranteed, principal and interest, by endorsement, by the
Bonds.— The consolidated mortgage o f 1942 is for $1,250,000, of which
Philadelphia Co. Interest payable in New York, Pittsburgh and Phila the balance unissued is in the hands of trustee to retire all the other Issues;
delphia. No sinking fund and bonds cannot be called. The stock of the mortgage trustee is the Fidelity Title & Trust C o., Pittsburgh. All the
Tunnol Co. has been pledged as collateral under this mortgage. See above Issues are guar., p. & L. by United Traction Co.
V. 76, p. 1143.
ROAD.— Embraces 34.53 miles of track (Including sidings)
ROAD.— Operates 12.737 miles of track from Pittsburgh to Mount miles o f street; rails mostly 90-lb. girder.— V. 106, p. 85, 929, on about 17
1230.
Lebanon. Gauge. 5 ft. 2)4 in-— V. 80, p. 222.
(b) P ittsburgh & Birmingham T ra ction .— A trolley road.
(b) W ashington & Canonsburg R y.— A trolley road.
On Jan. 1 1902 leased for 999 years to the United Traction C o., which has
Default and Subsequent Payment.— See Pittsburgh Railways above.
agreed to pay all interest, taxes, &c., and also $150,000 annually as rental.
Stock all owned by Pittsburgh Rys.
ORGANIZATION.— Incorporated in Pennsylvania on June 2 1902. Lease Is guaranteed by the Philadelphia Co.
ORGAN IZATION .— Incorporated Aug. 15 1889; N ov. 19 1889 leased
Successor on June 2 1902 to the Washington Electric Street Ry. In Jan.
1909 Pitts. Rys. began operating tho property. Franchises perpetual. P. & B. Passenger R y., Including South Side Pass. Ry. Co. Also leased
and operated from Dec. 1891 Pittsburgh Incline Plane Co. and M t. Oliver
Leased in 1907 the Pitts. Canonsburg & Wash.___ Ry.
St. T
_
Incline Plane Co.; operated also Blrm. Knoxville S Allentown Traction Co.
c
STOCK AND BONDS—
Date. Interest Outstanding.
Maturity.
In Aug. 1900 purchased the $400,000 capital stock of the West Liberty
Stock $1,000,000 ($50)............................................. $1,000,000 ...............
Wash Elec St Ry 1st M --------- 1897 5 g
125.000 Feb 11927 Street R y. and constructed a line to M t. Lebanon. V. 71. p. 343
First
mortgage
$650,000/
1902 5 g J-J
476.000 July 1 1932
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
gold______________ cScr tf lint, at Colonial Tr. Co., Pittsburgh, Trustee
Text
$3,000,000
See text
Stock ($50)------------------------ --------Second mortgage $500,000/
1913 5 J-D
185,000 Dec. 1 1943 1st M guar p & i by United 1889
5 g M -N
1,500,000 Nov 1 1929
($1,000); rod at 102 & int/Int. at office o f co. or Colonial Trust Co.,
Tr Co ($1,000)______c*tf (Fidelity Trust Co. of Philadelpnia, Trustee.
on 10 woeks' notice_____tf l Pittsburgh, Trustee.
The So Side Pass Ry 1st M l 1913
5 A-O
10.000 Oct. 1 1953
Bonds.— On 1st mtge. bds. a sinking fund o f $6,000 per annum becomes
($1,000) not sub to c a ll-.t f tint, at Colonial Trust C o.. Pitts., Trustee
oporativo after 5 years; $50,000 have been canceled, $125,000 o f the new
Guaranteed Bonds—
bonds are reserved to retire the bonds o f the Washington Electric Street Ry
Blrm Knox & A 1st m tge,/ 1891
6 g M-S
500.000 Sept 1 1931
The 2d mtgo. bonds outstanding are owned by Pittsburgh Rys. Co.
gold, interest guaranteed. .\Fidelity Trust C o., Philadelphia, Trustee.
RO A D .— Operates 12.737 miles in and between Washington. Tylerdalo Brownsville Ave St R y 1st M . 1896 6 F-A
300.000 Aug 11926
and Canonsburg.— V. 85. p. 532; V. 87. p. 348; V. 8 8 . p. 626; V. 106. p . . 8 8 West Liberty St Ry 1st mtge. 1/1900 5 g J-J
400,000 July 11930
1 Pittsburgh Trust Co., Trustee.
(c) P ittsburgh C anonsburg & W ashington R.v.
R OAD.—Operates 30.5 miles of track, laid with 90-lb. rails.
Default and Subsequent Payment.— See Pittsburgh Railways above.
ANNUAL REPORT.— Not now an operating company.— V. 72. p. 776.
ORGANIZATION .— In 1907 was leased for 30 years to the Washington
& Canonsburg Ry. which guarantees bonds, principal and interest.
Lines Leased to Pittsburgh & Birmingham Traction Co
Mt. Oliver Incline Ry.— Owned, leased and operated by Pittsburgh &
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Birmingham Traction Co. Stock. $100,000. Bonds. 1st M . 6 s, (cpt) M . &
Stock (1,590 shares, all owned by Pittsburgh R ys.).
■
( 1907
5 J-J
$750,000 July 1 1937 N., due May 1 1954. $41,600. Red. at 105 and int. Colonial Trust C o..
1st M . $750,000 ($1,000) gold/Safe Deposit Trust C o., Pitts., trustee. Int Pittsburgh, trustee.
Default and Subsequent Payment.— See Pittsburgh Railways above.
tf l at company's office, Pittsburgh.
Second mtg $500,000 ($1.-1 1913
5 J-D
89.000 Dec. 11943
Pittsburgh Incline Plane.— Leased for 999 years to Pittsburgh S Birm
c
000); red at 102 & int on/In t. at office o f co., Pittsb., or Safe Deposit ingham Traction Co., at rental equal to Interest on bonds and 10% on
10 weeks' notice_______ tfl & Trust C o., Pittsb., Trustee.
$150,000 stock, free of tax; dividends were 9% yearly for some time, balance
Bonds.— 1st mtge. bds. are redeemable at 105 and int. on any int. date; being carried to surplus, but were Increased some time prior to Jan. 1 1902
guar., p. & I., by Washington & Canonsburg Ry. and Pittsburgh Rys. to 10%. Phila. Co. owns $34,000 of the bonds.
Second mortgage bonds outstanding are owned by Pittsburgh Rys. Co.
STOCK
BONDS—
Date.
Interest. Outstanding
Maturity.
ROAD.— Operates 12.02 miles o f track between Canonsburg and 8 tock (par AND full paid_________
Q-F
$160,000
See text
$100)
Oastlo Shannon. 80-lb. rails.— V. 8 8 , p. 625; V. 106. p. 87, 1231.
1st mtge ($1,000 e a c h )..-c » t f 1889
6 J-J
150,000 July 11919
(d) Other C ontrolled Properties.’— Bonded debt.
ROAD.— Road extends from Forty Hill, Pittsburgh, on Bradford Street,
Under date Dec. 1 1913 tho following named companies controlled by the to Washington Avenue, on top of hill.— V. 71. p. 343; V. 106, p. 87.
Pittsburgh Ry. Co., as shown abovo filed mortgages to secure issues of
(c) Pittsburgh & Charleroi Street R y.—A trolley road.
1 st M. 6 % gold bonds (Int. J. & D .c*tf) due Dec. 1 1943 (par $1,000) but
Stock owned Dy Pittsburgh Rys.
callable, all or part, at 1 0 2 and int. on 10 weeks’ notice. Tho outstanding
ORGAN IZATION .— Incorporated April 19 1902 and took over the Char
amount in each case is owned by the Pittsburgh Rys. Co.
leroi S West Side R y.; Is leased to the United Traction Co. for 900 years
c
Name of Company—
Total Aulh. Total Issued.
Trustee.
from May 15 1902. Rental Is $1,000 per year. Bonds are guaranteed,
Cedar Avenue St. Ry. C o.............. —$40,000 $39,000 Col. Tr. C o., Pittsb
Bon Air Street Ry. C o ...................... 100,000 45,000 Col. Tr. C o., Pittsb- principal and Interest, by the United Tracti6 n Co. and the Philadelphia Co.
West Shore Elec. St. Ry. C o.............100,000 85,000 Col. Tr. C o., Pittsb"
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Superior Ave.A- Shady A ve.St.R y. 65,000
65.000 Col. Tr. C o., Pittsb
Stock $2,600,000 ($50)............................................. $2,500,000 .....................
Allenport A Roscoe Elec. St. R y ..500,000 127,000 Union Tr. C o..Pitts' Charleroi & West Side 1*1 M . t f ___
6%
65.000 Sept 11919
Pitts & Charleroi 1st M $2.-1 1902 5 g M -N
2,445.000 May 1 1932
PJ) United T raction Co. o f Pittsburgh.
500,000
gold ($ l,000 ).c*tf lin t. at Union Tr. Co., Pittsburgh. Trustee.
Default— Bondholders' Protective Committee.— In view o f the default by
5 J-D
522,000 Deo 1 1943
tho Pittsburgh Railways In payment of the Jan. 1 1918 Interest on the Pitts & Charleroi 2d M S l.-f 1913
000.000 ($1,000) red at 102/Int. at company's office or Union Trust C o..
United Traction Co. 5% bonds duo in 1997, and on the bonds of various
& int. on 10 weeks’ noticetf I Pittsburgh, Trustee:
other companies named under Pittsburgh Rys. Co. abovo (interest on
Bonds.— Of the Pittsb. A Charleroi 1st M . bonds, $55,000 Is reserved to
theso latter was paid in March 1918— V. 106, p. 1232), tho following com
mittee was formed to protect all the several bond issues affected. Chair retire a like amount of Charleroi Sc West Side bonds. See V. 74. p. 1039.
man, Thos. S. Gates; Geo. II. Frazier, J. Rutherford McAllister, B. Howell Second mtge. bonds outstanding are owned by Pittsburgh Rys. Co.
ROAD.— Operates a road between Pittsburgh and Allenport, by way of
Griswold Jr., John II. Mason A. A. Jackson, C. S. W. Packard and A. C.
Robinson. Depositaries: Philadelphia Trust Co., Phila.; Pcoplo's Savings Oastlo Shannon, Finleyville, Monongahela City and Charleroi, a distance of
& Trust Co. of Pittsburgh and Safo Deposit & Trust C o. of Baltimore. 43.38 miles. Completed in Sept. 1903.
OFFICERS.— Pres.. S. L. Tone; Sec., W . B, Carson; Treas.. O. J.
V '0 1
RG,Ar 4 IZA TI 0 N — Incorporated on July 27 1896, and In June 1897 Braun Jr.— V. 74, p. 1039. 1090: V. 76. p. 752.
purchased all the property and franchises or tho Second Avo. and North
(d) Allegheny Bellevue & Perrysvllle Ry.
Side traction companies, and secured control of the Pittsburgh Allegheny &
ORGANIZATION.—
Manchester through a lease for 950 years and tho purchase o f its stock. tire stock Is owned by theIncorporated In Pennsylvania on Feb. 8 1905. En
Pittsburgh Rys. Is leased to the United Traction
V . 65, p. 27. The Federal St. & Pleasant Valley Passenger R y. is controlled
through its lease for 950 years to the North Side Traction. In 1902 leased Go. for 995 years from March 1 1905 at a rental of 10% on the stock.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
tho Pittsburgh & Birmingham Traction C o., East McKeesport Street Ry.
Stock $250,000 ($60).........................
10%
$250,000
See text
and tho Pittsburgh & Charleroi Street Ry.
5 g A-O
500,000 April 1 1935
In March 1899 the Philadelphia Co. offered to give $6,375,000 o f Its com 1st mtge $500,000 gold guar/ 1905
($1,000) .........................c t f (Penn. Co. for Ins. on L. & G. A..Phil..Trust.
mon stock In exchange for tho $17,000,000 common stock o f the United
Bonds.— Are guaranteed, prm. S Int., by Phila. Co. Interest Is payable
c
Traction, flee V 6 8 , p. 479
in Oct. 1899 exchange o f stock under this
ilan was begun and all shares have been acquired and are now owned by at company’s office or by Brown Bros, tc C o., N . Y . and Phila. No sink
ing fund and bonds are not subject to call.
’ittsburgh Railways.
, „ „
„
ROAD.— Operates 16.67 miles of track from Allegheny, via Westvlew, to
On Jan. 1 1902 the Pittsburgh Railways Co. took over this property,
and, under the terms o f the operating contract, agrees to pay current divi Bellevue. Oauge, 6 ft. 2)4 In.
dends of 5% on tho pref. stock. The agreement was until Jan. 1 1907 and
(e) Bon Avon & Emsworth Street Ry.
thereafter until terminated by three months notice from either party.
ORGANIZATION.— Incorporated in Pennsylvania on June 17 1903.
Tho Jan. 1915 and subsequent dlvs. on tho prof, stock were passed. In Entiro stock Is owned by the Pittsburgh Rys. Is leased to the United Trac
Feb. 1917 the management offered to each prof, shareholder of the United tion Co. of Pittsburgh for 995 years from April 1 1906 at 6 % on stock.
Traction Co. 6 6 2-3% of his holdings In a 6 % mortgage bond of the Pitts
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
burgh Rys. Co., to be guar., p. & L. by the Philadelphia Co.; or, as an
A-O
$100,000
See text
alternate proposition, $25 in cash for each share o f stock (par$50). V. 104, Stock $100,000 ($50).........................
5g
300.000 April 1 1936
1st mortgage $300,000 gold 1906
p. 665, 1389. 59,029 shares were acquired.
c
guar .............................. tf Fidelity Title S Trust Co., Pittsb., Trustee,
STOCK AND BONDS—
Date.
Interest. Outstanding. Div.or Mat.
Interest at Co’s, office.
J-J
*$17,000,000 JulyT2.K %
C om stock, $17,000,900 ($50)...........
2d M *100,000 ($1,900) sub 1913
5 J-D
79,000 Dec 1 1943
Pref, cum, $3,000,000 ($50)............
5
,
3,000,000 See text
to call at 1 0 2 and int on 10 Int. at co’s office or Fidelity Title & Trust
United Trac gen m, gold,/ 1897 5 g J-J
4,804.000 July 11997
weeks’ n____________ ___
otice...................tf
___
C o., Pittsburgh, Pa., Trustee.
$10,000,000 ($ 1 .0 0 0 )--C*tflM aryland Trust C o., Baltimore, Trustee
Bonds.— 1st M . bonds are guaranteed, prin. and Int., by the Philadelphia
interest is payable in New York C ity.
bonds outstanding
owned by Pittsburgh Rys.
Pitts Alleg & Manchester-. t f ___
6
1,500.000 Oct 1 1930 Co. 2d M . Operates 5.165 miles aretrack from Avalon to Dlxmont. Gauge
ROAD.—
of
Second Ave Trac mtge, gold/ 1894 6 g J-D
2,026.000 Doc 1 1934
5 ft. 2 H In.
($1,000)
.............. c*-tf(M aryland Trust C o., Balto.. M d.. Trustee
OFFICERS.— Pres., 8 . L. Tone; V .-P., J .H . Reed; Sec.. W. B Carso
Interest at Brown Bros. & Co., N . Y -, or A. Brown & Sons. Baltimore.
2 d Avo Traction Co m t g o ...t f 1893
5 J-J
419,000 July 11933 Treas.. O. J. Braun Jr.
1,585,671 ...................
Loans payable Dec 31 1917...................................
(f) East M cKeesport Street Railway.
* All owned by Pittsburgh Rys. Co.
Entire stock is owned by Pittsburgh Railways.
The United Traction receives the entire earnings of the North Side
ORGANIZATION.— Incorp. In Penna. on June 26 1899. Is leased
Pitts. A. & M . and Second Ave. traction companies, subject only to annual United Traction Co. of Pittsburgh for 900 years from Jan. 1 1902.
charges of $259,800.
Stock, $250,000 ($50): 1st M . 5% gold bonds, $250,000 (tf) ($1,000).
Dividends.— On preferred dlvs. at the rate o f 5% annually wero paid to Dated l5ec. 1 1899. Due Dec. 1 1929. Int. J. S D . at Fidelity Title A
c
July 1914. Jan. 1915 div. passed. V . 100, p. 55. None since. See Trust Co., Pittsburgh, trustee. Miles, 8.27.
§
J-J
103
ELECTRIC RAILWAYS
[Voii. 107.
pleted during tho year 1903-04), were merged In the Mononghela Street R y.
(8 /C onsolidated T ra ctio n .— Trolley'road.
ORGANIZATION.— Chartered July 15 1895. Tho company absorbed and stock was increased from $1,000,000 to $7,000,000. See V. 73.
the Fort Pitt Traction Co. (a consolidation o f Fort Pitt Pass. Ity.. Gross p. 1112. On Jan. 1 1902 the Monongahela Street Ry. was leased for 999
Street R y., Highland Park Street Ry. and Negley Street R y.). and assumed years to the Consolidated Traction Co. for Interest, taxes, A c., and an
its leases of the Citizens’ and tho Allegheny Traction companies, and has annual rental beginning with $165,000 the first year and Increasing $18,750
acquired the control of the Pittsburgh, the Duquesne and the Central Trac each year until $315,000 is reached. Lease is guaranteed by Philadelphia
First dividend under lease (2% ) was paid in July 1904. See V. 79,
tion companies. In 1902 leased tho Monongahela St. Ry. and the Subur Co
ban Rapid Transit Street Ry. Owns all stock of the Ardmore Street Ry.. p . 269. In 1905. Jan.. 1H % ; July, 1 3-5%; in 1906.3.26%; In 1907,3 M % ;
In 1908. 3.86% ; In 1909. 4 .12%: In 1910. 4.37% : In 1911 and since. 4 H % .
and guarantees Its bonds, principal and Interest. V. 88. p. 882.
Default and Subsequent Payment on Pitcairn & Wilmerding 5s.— See Pitts
On Dec. 4 1901 the stockholders of Philadelphia Company approved
plan for absorbing the shares of the Consolidated Traction. See terms burgh Rys. and United Traction Co. above.
STOCK A BONDS—
Miles.Dale. Interest. Outstanding.
Maturity.
In V. 73. p. 1112. 286,880 shares common and 233,117 shares preferred
have been so exchanged.
Stock. $7.000,000__________ __
____ See text $7,000,000 Seo text.
Mon. St. Ry. 1st mtge......... 7 17 1898 5 g J-D
1,000.000 June 1 1928
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
$1,000,000
Common stock t$50)________ ______ _
J-J J15.000.000 July T2, 1 % Wllk. A E. P.gold_______ tf( Union Trust C o., Pittsburgh, Trsutee.
M ...................1
Pref stock 6% cum ($ 5 0 )...........
6
M -N
12.000.000 Nov '13, 3%
1899 5 g M-S 2,000.000 Sept 1 1929
$2,000,000 g ($1.000)------!
Equipment trust certificates/
1914 5 A-O
325,000
Seetext guar_____________ cAr _tf 1
$500,000 Series ‘ ‘ B” ______ (Union Trust C o., Pittsburgh, trustee.
Wllk. A Ver. M .. $700,000!
1901 5 g J-D
624.000 June 1 1931
Car trust bonds $200,000 gold/
1916 5 g A-O
160,000
See text
g. ($1,000) -.c A r ___ tf]
($1,000) Series " O ” __c*tf (Colonial Trust C o.. Pittsburgh, Trustee.
Pt. A Wil. M .. $700,000. g,
1901 5 g J-J
588.000 July 1 1931
Car trust bonds $800,000 gold/ 1916
5 g A-O
680,000
See text
($1,000) c A r _ .tf...............
($1,000) Series “ D” _____tflU nlon Trust Co., Pittsburgh, trustee.
Car trust bonds $200,000 gold/ 1917 5 M -N
200,000
Seetext Bonds.— The Union Trust Co. of Pittsburgh Is trustee of all mortgages
($1,000) Series “ E” ______ (Fidelity Title A Tr. C o., Pitts., Pa., trustee. and Interest is payable at Mellon National Bank. The Wlllcs. A Ver. bonds
are guaranteed, prin. A Int., by Wllk. A E. Pitts. St. Ry. Co., Monongahola
Fort Pitt Trac mtge $1,000.-/ 1895
5 g J-D
1 ,0 0 0 ,0 0 0 Dec 2 1935
000 ($1,000) g not red c* tf/In t. at Pittsburgh Tr. Co., Pittsb., trustee. St. Ry. Co., Consol. Traction Co. and Phlla. Co. Co. of Pittsburgh.
_
_________
947.822 _________
Notes payable Dec. 31 1917_ _____
ROAD.— Owns 70.4 miles of track. Including branches; 90-lb. rails.
Stock.— The pref. stock carries cum. dlvs. of 0% per annum and has the
REPO RT.— Not now an operating company.
right to participate equally with the com. stock when that has received 6% .
OFFICERS.— Pres.. W. L. Mellon: V .-P ., A. W. Mellon; Treas., W .S .
All arrears of divs. were paid up In Jan. 1903. V. 76, p. 48. First dlv. of
1% on common paid Jan. 2 1903; thon 1% July 1903: 1904 to 1911, incl., Mitchell.— V. 72. p. 776; V. 79. p. 269. 627. 735.
2% per annum. In 1912. Jan.. 1%; July, 1%.
(g) P ittsburgh T ra ction .— A trolley road.
Bonds.— Tho equipment trust certificates Series " B ” mature $25,000
ORGANIZATION.— Incorporated April 30 1887.
semi-annually from April 1 1915 to October 1 1924: $175,000 have boon
LEASE.— Leased from April 2 1896 to the Consolidated Traction for 950
retired: they are secured by 100 cars casting $581,945. The Series "C ”
car trust bonds mature in ten annual installments of $20,000 each from years at 7% on the $2,500,000 stock (seo-V. 61, p. 1154) but 1 years
April 1 1917 to April 1 1926, inclusive. $40,000 have been retired. They dividends were used to pay floating debt of $250,000. The full 7% Is now
are secured by 50 cars costing $221,000. Freo from Penna. State tax. being paid. In May 1896 stockholders were offered receipts for their stock,
V. 102, p. 608. The Series “ D ” car trust bonds mature $40,000 each which were redeemed at $70 per share on Oct. 1 1896 In preferred stock of
6 mos. from April 1 1917 to Oct. 1 1926 inclusive. $120,000 have been re Consol. Traction Co.; 49.500 shares out of 50.000 have been so exchanged.
tired. They aro secured by 175 cars costing $900,000. The Series “ E” See V. 62. p. 948. Pittsburgh Traction owns the $250,000 capital stock
car trust bonds aro to bo secured by 50 cars costing $225,000. They mature of Bloomfield Street Ry. and guarantees the bonds.
In 11 annual payments commencing N ov. 1 1918.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
The Fort Pitt Tract, bonds are secured by tho doposlt of the shares of the Stock $2,500,000 ($50)_______ _____
7 A-O 31 $3Sper sh.pd.ln.See text
constituent companies out o f which tho Fort Pitt Co. was formed, namely, 1st mtge os.....................c * .t f / 1887
5 A-O
$750,000 Oct 1 1927
$300,000 Fort Pitt Pass. Ry. stock. $100,000 Gross St. Ry. stock. $100,000
(Fidelity Title A Trust C o., Pitts., Trustee.
Guaranteed Bonds—
Highland Park St. Ry. stock, $100,000 Negley St. Ry. stock.
ROAD.— Controls 227 278 miles of track In all.
Bloomfield Street Ry 1stf 1893 5 F-A
250.000 Aug 1 1923
cur______________ __c*-tf\Interest at Pittsburgh Trust C o.. Trustee.
OFFICERS.— Pres., J. D. Gallery; V .-P., J. n . Reed; Sec., W. B. Car
son; Treas., O. J. Braun Jr.; Controller, O. 8. Mitchell.— V. 102. p. 608.
Stock.— Issued 50,000 shares, on which $38 each has been paid.
D IV ID E N D S.— At company’s office, Pittsburgh. Dividends In 1895
(a) Ardmore Street Ry.
6% : in 1896. none—see above; in 1898, 53^ % ; in 1899 and since, 7% .
ORGANIZATION.— Incorporated In Pennsylvania on Oct. 31 1907.
ROAD.— Owns 18.51 miles of track.
Road mostly on private right of way. Franchises In boroughs are perpetual
(h) Suburban Rapid T ransit Street Ry.
Consolidated Traction owns all the stock and guarantees the bonds, nriflORGANIZATION.— Was leased on Jan. 1 1902 to Consolidated Traction
cipal and interest. V. 88, p. 881. Philadelphia C o. owns $26,000 bonds.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. Co. for 900 years at an annual rental of $56,000, as well as paying all charges.
Stock $14,000 ($50)...................................................
See text ................... Including interest and taxes.
First mtge $1,250,000 gold/ 1908
5 g A-O
$1,032,000 April 1 1958
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
($ 1 ,0 0 0 )------------------- c*tf\Int. at Colonial Trust C o., Pittsb., trustee. Stock $1.400.000____________ _____
J-J
$1,400,000
See text
Bonds.— Remaining bonds are reserved for extensions and betterments. First mortgage. $200,000. g / 1913
6 g M-S
200,000 Sept 1 1953
No sinking fund, but subject to call at 105 and interest.
($1.000)______________c .tf/In t. at Farmers’ Dop Nat Bank, Pittsburgh.
ROAD.— Operates 8.22 miles of track between Wilkinsburg and East
( Colonial Trust C o .. Pittsburgh. Trustee.
Pittsburgh.— V. 88, p. 881.
Dividends.— In 1903.4%: In 1904.Jan., 2% : July, 1 % ; since4% uer ann.
Road.— Operates 11.88 miles of track on 6 miles of street.
Lines Controlled by Consolidated Traction Co.
(a) A llegheny T ra ction .
(i) M orningside Electric Street R.v,
ORGAN IZATION .— Incorporated July 23 1890. April 1 1896 this
ORGANIZATION.— Incorporated in Pennsylvania on July 14 1904.
company was leased to the Fort Pitt Traction Company for 950 years at a
Entire stock Is owned by Philadelphia Co. Is leased to tho Consolidated
rental of $25,000 per annum. Lease assumed by Consol. Traction Co.
STOCK AND BONDS— Date.
Interest. Outstanding. Last div.etc. Traction Co. for 995 years from Sept. 30 1905 at a rental of 5% on stock
5%
$500,000
See text. and Interest on bonds.
Stock, $500,000 (par $50).................
Guaranteed Bonds—
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Mill vale Etna & Sharpsburg/ 1893
5 g M -N
741,000 N ov 1 1923 Stock. $24,000 ($50).......................
5 A-O
$24,000 See text.
1st M $750,000___ g .t filn t . at Pittsb. Tr. C o.. Pittsburgh, Trustee. 1st mtge $200,000 gold/ 1905
5 g A-O
200,000 Oct 1 1935
Dividends.— Tho semi-annual dividend o f 2H % due June 1 1901 was
($1,000) guar prin and/Tnt. at office of Brown Bros. A C o., Phlla.
passed, tho proceeds being used to pay off tho floating debt. In 1902.
Int by Phlla C o_____c * .t f IPenn.Co.for Ins.onLives A O.A..Phila.Trus.
4 K % : 1903 to 1917, Incl.. 5% per annum.
R O A D .—Operates 3.31 miles of track. Gauge 6 ft. 2Vi In.
ROAD.,— Including Millvale Etna A Sharpsburg, 22.708 miles of road.
c
O F F IC E R S — Pres., S. L Tone; V .-P .. J. H. Reed; Sec., W. B.
Carson; Treas., C. J. Braun Jr.
(b) Central T ra ctio n .—Trolley
Default and Subsequent Payment.— See Pittsburgh Railways above.
(4) Seventeenth Street Incline Plane Co.
LEASE.— Incorporated Dec. 21 1888. Leased from April 2 1896 to
ORGANIZATION.— a reorganization on
28 1004 of the Penn. In
the Consolidated Traction for 950 years at 3% per annum on par value cline Plane Co. EntireIsstock Is ownod by Dec. Philadelphia Co. Was
tho
of $1,500,000 stock (see V. 61, p. 1154): and in May 1896 stockholders operated by the Pittsburgh Rys. Co. up to Jan. 16 1918. since when It has
wore offered privllego of exchanging their stock for receipts, which were been separately operated.
redeemed at $30 per share on Oct. 1 1896 in Consolidated Traction Co.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
referred stock at par. 29,173 shares of Cent. Trac. stock (out of 30,000)
Stock $250,000 ($50)................................................
$250,000 ...................
ave been so exchanged. V. 62, p. 1087.
5 cur
STOCK AND BONDS— Miles. Date. Interest. Outstanding. Maturity 1st mtge $125,000 ($1,000)\f 1905 Colonial M-SCo., 125.000 Mch 1 1935
guar________________c * .t f Int. at
Tr.
Pittsburgh. Trustee.
Stock ($50) see text.................................3 % A-O /SO.OOOshs.l
See
Bonds.— No sinking fund, and bonds are not subject to call. Aro guaran
(30 paid up /
text. teed, prin. A Int., by the Philadelphia Co.
1st M $375,000 cable/
6
1889 5 J-J
$375,000 July 1 1929
OFFICERS.— Pres., S. L . Tone: V .-P ., J. IT. Reed; Sec., W . B. Car
llne,$5O0------- n tf)
Interestat Union Trust Co.. Pittsburgh.
son; Treas., O. J. Braun Jr.; Controller, O. S. Mitchell.
Bonds of Central Passenger Ry. controlled.
1st M $250,000/
4
1894
6 A-O
125,000 Oct 1 1924
(5) Beaver Valley T ra ction .— A trolloy road.
($1.000)-ntnintel,est at Union Trust C o., trustee, Pittsburgh.
In July 1905 ontiro
Dividends.— Feb. 1 1892, $2 50 In stock: In 1896, Feb., 2% In cash; burgh] V. 8 1 .p.506.stock was acquired by the Philadelphia Co. of Pitts
in 1898, N ov., 1
In cash; in 1899 and since 3% per year.
ORGANIZATION.— Incorporated In Penn. In pornotulty June 29 1891.
ROAD.— 9.27 miles o f road, of which it controlled by ownership of capand owns entire stock of Bearer Valley St. Ry. and of Central Electric St. Ry.
tal stock. Central Passenger R y., 3 miles.— V. 62. p. 948, 1087.
Co., purchased Aug. 8 1891. operating them as ono road under 999-year
(c) C itizens’ T ra ction .— A trolley road.
,
leaso. Charter and franchise perpetual.
ORGAN IZATION .— Incorporated July 6 1887. On Sept. 1 1887 pur
In 1900 stock was increased from $300,000 to $1,000,000 and then pur
chased the ontlro capital stock ($200,000) o f tho Citizens Passenger Ry. chased tho stock and property of tho People’s Electric Street R y. of Roches
which it now holds. Also owns stock of Asplnwall Street Ry.
ter. the College A Grandvlow Electric Street R y., the Rochester A Monaca
LEASE.— Leased from N ov. 1 1895 to Fort Pitt Traction Co. (now Electric St. Ry. and tho Beaver A Vanport Electric St. Ry.; also owns en
Consol. Traction) for 950 years at 6% per annum on $3,000,000 capital tire capital stock of Rtvervlew Electric St. R y . Co., the Freedom A Conway
stock.
In addition the lessee agreed to pay a floating debt of $175,006 Electric St. R y. Co. and the Vanport Electric St. R.v. C o., none of which
and at maturity mortgage debt. V. 61. p. 661.
aas any separate bond issue. In Jan. 1902 authority was givon to In
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity crease stock from $ 1 ,0 0 0 ,0 0 0 to $1,500,000
6 M -N
J3,000,000f.p. See toxi
Stock f$5m fully p a i d ......................
Fare Increase.— In Dec. 1917 the co. Issued a new schedule of rates and
1st mortgage ($1,000) N o t/ 1887
5 A-O
686.000 Oct 1 1927 fares, effective Jan. 26 1918, in the boroughs of Beaver. West Bridgewater,
subject to call__________ tflF ld . Title & T r. C o., Pittsburgh Trustee.
Rochester, Monaca, Freedom, Conway, New Brighton, Beaver Falls,
Bonds of lines whose stocks are owned—
College Hill and surrounding territory, increasing the 5-cent fares to 6 cents,
Penn. St. Pass. Ry. 1st M ____ 1892
5 J-D
250.000 June 1 1922 adding a faro zone for through passengers from 12th St., Conway, to VanInterest and dividends payable at Union Nat. Bank. Pittsburgh. Pa
port. and discontinuing the sale of cut-rate tickets in books of 21 for $1.
ROAD.— Owns 30-02 miles of track on 15 miles of street.— V. 106, p. 818 Tickets are sold In strips of 10 for 55 cents.
(d) Duquesne T ra ction .— A trolley road.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Default and Subsequent Payment.— See Pittsburgh Railways above.
...........
$1,075,000 ...................
Stock $1,500,000 (par $50)...............
675,000 Oct 1 1950
LEASE.— Incorporated Jan. 25 1890. Leased from April 2 1896 to 1st con mortgage (closed) f 1900 5 g A-O
gold________________c * .tf/I n t . at Pa. Co. for Ins. on Lives A Granting
t he Consolidated Traction for 950 years at 4% on tho $3,000,000 stock,
( Annuities. Philadelphia, Trustee.
b ut dividends for a year and a hatf wore withheld for payment of floating
957.000 Nov l 1953
debt o f $180,000. In M ay, 1896 stockholder* were allowed to exchange Gen mtgo$3.000.0(j0 ($1,000)1 1903 5 g M-N
gold _______________ c*_tf lint, at Northern Trust Co. Phlla.. Trustee.
t heir stock for receipts, redeemed Oct. 1 -1896 at $37 per share in 6% pre
5 J-J
66,000 See text
ferred stock o f Consolidated Tract Jon Company at par. 52.635 shares out Car trust bonds, gold, $72,-1 1917
000 ($1,000)........ ............. (Fidelity Title A Tr. Co.. Pittsburgh, trustee
of 60.000 have been so exchanged. Seo V. 62, p. 1087.
Bonds.— Of the
bonds, $675,000
reserved for
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. and the remainder gen. mtge.and Improvements are75% of cost. prior liens
for exfens,
at
See V 77.
Stock ($50) fully paid_______ / ____
Text.
33.000.000
See text
owned by
*
(D lv. payable at Fidel. Tit. A Tr. Co..Pittsb. p. 2158. $56,000 at 110 and Phila. Co. and $100,000 in troasurjr. Both
.
issues redeemable
interest.
1st m ortgage..................c* tf) 1890
5 J-J
1,500.000 July 1930
The car trust bonds mature $6,000 Jan. 1 1919 to 1929 and are secured
(Fidelity Title A Trust C o., Pitts.. Trustee.
:
by 12 motor cars.
Dividends were 5% , J J, but In 1893 and 1894 none paid; in 1895, 4%
ROAD.— Owns and operates 36.205 miles of track, connecting the varlou:
In 1896 nono. In 1898, 3% : In 1899 and since, 4% yearly.
R OAD.— At time of lease in 1896 controlled it companies, having a
> towns and boroughs in the Beaver Valley, from Morado Park southerly, via
tloaver Falls, to Boaver and Vanport and to Rochester and Conway. Laid
present 37.17 miles of road.— V. 62, p. 948, 1087: V. 106, p. 85, 1230.
with 90-lb. and 73-lb. girder rails.
Owns 45 closed and 9 open passenger
(e) Port Pitt T ra ctio n .— Seo "Consol. Traction C o.”
cars and 9 miscellaneous cars
(f) M onongahela Street Railway.
EARNINGS.— For fiscal year ending Mar. 31 1918, gross, $420,847;
ORGAN IZATION .— On May 26 1898, absorbed by consolidation tin? net. after taxes. $91,878: other Income. $1,127: Int., rents, A c.. $101.921.
Schenley Park A Highland. Homestead A Highlands. Braddock A Home irnpts. A betterments, $8,189 disc, on securities sold, $621: deficit for
stead and the Braddock A Duquesne.
year. $17,726In Dec. 1901 tho Monongahela Street R y., the Wilkinsburg A East
OFFICERS.— Pres.. S .L . Tone; V .-P., J. H. Reed; Sec., W. B. Carson.
Pittsburgh Street R y., the Wilkinsburg A Verona Street Ry. and the Treas.. C. J. Braun Jr.; Comp., O. S. Mitcholl.—V. 77, p. 1224, 2151.
Pitcairn A Wllmordlug Street R y. (construction of latter two roads com V. 81. p. 506, 1664. 1790: V. 87. p. 345; V. 106. p. 295.
E
(6 ) Pittsburgh & Beaver Street Railway C o — A trolley road.
O R G A N IZA T IO N — Incorporated In Pennsylvania Jan. 23 1908.
Franchises perpetual. Capital stock $235,000 ($50 par), all owned by
Philadelphia Co. Bonds authorized, first mortgage gold $1,500,000
Issued. $750,000, all owned by the Philadelphia Co.; dated July 1 1908.
duo July 1 1958 (tf). Int. 5% . payable Jan. & July at company s office
Pitts. Union Tr. Co. of Pitts., trustee. Are guar. p. & 1. bv Phila. Co.
Fare Increase— On Oct. 6 1917 a 0-cent fare became effective.
EARNINGS.— For fiscal year ending Mar. 31 1918. gross $73,20,8: net.
after taxes. $8,254; oth. inc., $21; lnt. & disct., $60,904: deficit, $52,629.
R O A D . —Operates U.H9 miles in and between Baden. Beaver County,
and Leetsdale, Allegheny County, Pa. V. 105. p. 1802.
(7) C lalrton Street Railway C o.— A trolley road.
ORGAN IZATION .— Incorp. in Penna. May 5 1904. Capital stock
$30,000 ($50) all owned by Pittsburgh Railways Co.
HOAD.— Operates one mile o f track in the Borough o f Clalrton, AI<* ' “ Ulr ° 0 U n W -
B L K O T R IO
103
ELECTRIC RAILWAYS
Se p t ., *918.]
L IG H T A N D
P O W .R
D uquesne Light C o .—Entire com. stock is owned by the Phila. Co.
hicorp. on Aug. 25 1903 under the laws of Pennsylvania.
In Feb. 1912 the Duquesne Light Co. was purchased In the Interest of
Phila Co. (V. 9 4 .p . 560). and In Nov. 1912 It was m erg^ with the Monongahela Lt. Co. and Oakmont & Verona Lt., Fit. & P. Co. In Dec. 1912
;
it Increased its stock from $3,000,000 to $25,000,000 preparatory to acquir
ing control of the olectrlc-llghting properties owned by the Phila. Co.
Merger effective Jan. 1 1913.
, „
..
Owns $849,950 out o f $850,000 stock o f the Pennsy. Lt. & P. C o., the
entire stock and bonds of the Allegheny County Lt. C o., the entire stock
and $252,000 bonds o f the Southern lit . Lt. A l\ C o., the entire stock of
the Diamond Lt. 3s Pow. Co.. Beaver County Lt. C o.. Midland El Lt. A
P. Co.. Pittsburgh-Beavcr Light Co., Brunot Island Bridge Co. and of 42
miscellaneous electric-light and Po^£r companies and $500,000 bonds (en
tire issue) o f the East End Elec. Light Co. On Dec. 31 1912 leased for 50
voars the Allegheny Co. Lt. Co., which in turn leases the Southern Ht.. Lt.
I P Co and Monongahela Lt. & P. Co. for 900 years from Jan. 1 1902
In April 1916 purchased the $150,000 6 % bonds of the Penna. Lt. lit.
A Power Co. which fell duo April 1 1916.
.
,
„
Franchise Is perpetual. Has contract extending to 1903 to supp y all
eloctrlcity used by the Pittsburgh Rys. Also has contract with the city of
Pittsburgh for stroet and other municipal lighting and(power purposes
City Lighting Contract— On Nov. 19 1917 the Pittsburgh City Council
adopted an ordinance to authorize a contract with the company to furnish
light to 2 0 wards o f the city for ten years, the contract being based on nor
mal prices for labor and supplies: contract has since been signed.
In 1917 brought out an issue of $3,272,251 5-year notes dated July 16
IQ 17 whole issuo oeintf purchased by the Philadelphia Co.
In A u g ?1918 issued $10,000,000 3-year 6 % notes $3,500,000 of the pro
ceeds (together with $500,000 from other sources) to bo used to release
from the lien o f the two Philadelphia Co. mortgages a portion of the Brunot
Island plant and property covered thoreby . I ho remainder will bo
used to pay for past and future extensions and additions. V. 107, p. 607.
Mortgage Authorized.— In Aug. 1918 shareholders approved a plan to
create a $25,000,000 mortgage to secure a like amount o f 25-year 5% gold
bonds, $15,000,000 thereof to be pledged as collateral to secure the 3-year
(2) South Side Gas Co.
. _
15.521 shares of stock are owned by the Philadelphia Co.
ORGANIZATION.— Incorporated Jan. 25 1882 In Pennsylvania.
authorized and issued, $500,000 ($25).
Stock
WEST PENN T R A C . & W ATER POWER CO— (See Map on page 103).
O R GAN IZATION .— Incorp. July 11 1911 In VV. Va. as the Black River
A Water Power C o ., but in April 1912 was reorganized and capital increased
and name changed to above title in accordance with plan of American
Water Works & Guarantee Co. (now American Water VVorks A Electric
Co.) in V. 94. p. 984. (See also detailed statement of that company in
V. 95. p. 1537.) Owns entire common stock of the West Penn Railways
Co. and $500,000 stock of Hydro-Elec. Co. of W Va. (see bonds under
West Penn Railways Co. below), the West Penn Railways Co. owning the
remaining $1,500,000 stock of the Hydro-Elec. Co.
STOCK—
Div. Paid. Outstanding. Last Div d.
Common $20,000,000 ($100).................... ............$20,000,000 - - - - - - - - Pref $6,000,000 ($100) 6% cum___
Q-M.15
6 .5 0 0 .0 6 0 Sepb. 18.U4
$14,344,000 common and $3,094,800 pref. stock is owned by American
Water Works & Electric Co.
. . .
„
Dividends.— On pref.. 1H % quarterly from organization of company to
and Including March 1914. None to March 1917. when 1H % quarterly
was again resumed. V. 1 0 4.0.8 64.
, _
,, „
. , , T„ _ _ .
OFFICERS.—Chairman o f board, Samuel Insull; Pres. A. M . Lynn,
V .-P ., Williston Fish; V.-P. A Sec.. Raymond B Keating; Treas . A A « t .
Sec., C. C. McBride; Aud. A Asst. Treas., John Young, Pittsburgh.—
V. 104. p. 864, 1265, 1704; V. 105, p. 1523.
A ll'o f'c o m N.stockALLowneef by°the West Penn Trac. & Water Pow. Co.
ORGANIZATION.— A consolidation on May 23 1917 of the old West
Penn Railways Co. with the Brownsville Street Ry. C o.. Greensburg &
Southern Electric St. Ry. C o., Latrobo St. Ry. C o.. L atrobe-H «!laSt. K y .
Co., Masontown-Morgantown St. Ry. Co., Pittsburgh McKeesport &
Connellsville Ry. C o.. Uniontown Radial St. Ry. Co. and West Penn
Interurban R y.C o. (all of the capital stock of which corporations had been
owned by the West Penn Kys.). and with the West }
Traction C o.,
McKeesport A Irwin Ry. Co.. Pittsburgh McKeesport & Oreonsburg Ky.
Co. and White Electric Traction Co. (for terms of consolidation see V.
104. p. 1704). Pref. stockholders or West Penn Tract on Co. and the old
West Penn Railways Co. were given the right to subscribe for 25 /i> or their
present holdings In additional now pref. stock at $82 per $100 ^ ar-o- West
Penn Trac. A Water Power C o., owner or all the West Penn Traction Co.
com. stock, was given the right to subscribe tor $1.544,700 new com. stock
at par. Owns all the common stock of the West Ponn l ower Co. and 7 5 /
0
of the stock ($2,000,000 out) of the Hydro-Electric Co. of W va. (see
bonds below and V. 97. p. 1586. 1736). Owns all the stock of the Steuben
ville Wcllsburg A Weirton Ry. Co., Wcllsburg Elec. Ltg., Ht. & Pow. Co
Hancock County Elec. Co. and the West Virginia Power & Transmission
Co. Controls tho Wheeling Trac. Co.. Greensburg & AVestcrn St. R y.,
Allegheny Valley St. R y., Kittaning & LeechburgRy., Oakdale A^McDon
ald St. R y., Pittsburgh-Allegheny Valley Trac. Co., McKeesport & Du
quesne Bridge Co., Jefferson Elec. Co., Brooke
Co., Belmont Elec.
Co., Ohio Valley Elcc. Co., Mingo Jet. Light Co. and WUeeling Valley Lt.
& Pow. Co. Also owns Olympia Park, a summer resort of 76 acres witnui
* °H T o ?q f AND B o m i b —7 Date.
Interest. Outstanding. Maturity.
2 fra n ch ise?are^/raost all perpetual. Practically all track and trans
Common $25JiOO.OOO ($100)-- - - - Monthly 831.726.000 See text
7% cum nf $16,000,000 ($100)
O-*5.941 non N ov. 18.1 W mission lines outside of municipalities are on private rlght-oMvay.
Fare Increase.— In April 1918 filed with the P. S C om m a nmv fare sched
l^yr notes (red at pkr A in t ).. 1917 5 J-J 16
3,272.261 July 10 1922
ule providing for an Increase in fares from 5 to 6 cents, effective M a y 11 1918.
3-yriwuuredro(es! 12 ,000.000] 1918 6 g.I-J
10,000.000 July 11921
($500 and $1,000) g -_ c* .tfj Bankers I r. ( o., N. \ ., trus. Int. in N. Y .
STOCK AND BON.DSDale.
interest. Outstanding. Maturity^
New Biwrtgago1 $25,000,000- - - 1918
5%
See text
1943
Common $10,000,000 ($100).............
q" M * "
7i365’300 Sep* T 8 .1 H
Bonds o, leased C o s ^ ^ „
mQ
g Rj .D
*48.000 Dec 1 1949 Pref 6% cum $10,000.000($100)-----Southern 'l i t Lt A P 1st M
1st & ref M gold
55g ^ -D
5 ^ 5 L500 June 1 I960
2
W 1 Tract 1st M $25,000,000 1910
>
$300,000 ($1,000) gold tf Int. at Colonial Tr. C o.. Plttsb., trustee.
5 k J-D
1.700.000 Juno 1 1949
Monongahela Lt A P 1st M 1899
gold ($1,000 A $500).-c*tf
T iS i
$1,700,000 ($1,000) g - - - t f Int. at Mellon Nat. Bank, Pittsburgh.
Old W P Rys 1st M $6,000,000 l ? 5 b !‘ E r « ‘ I “ e
Union Trust Co. o f Pittsburgh trustee
($500 A $1.000)..........c*tf Int. at Equitable T r. Co. N. Y .. Trustee.
2.926.000 Jan 11931
Plttsburgh-Beaver Light C o / 1917
5 M -N
505.000 N ov. 1 1927
Coll tr M $6,000,000 gold 1910 5 g A-O
1st M $565,000 ($1,000) g\Equitable Trust C o.. New_ York, trustco.
($1.000,$ 10.000&I50.000) r Equitable Trust C o.. New York Trustee.
2.912.000 Jan 11931
Beaver County Light C o----------------------------508,500 ---------------- P M cK A O 1st con mtge 1901 5 J-J
Valley Electric C o ___________ _____ _ --------- 191.000 --------------------------$3,500,000 ($1,000) g o ld .. Interest at Colonial Trust C o., Pittsburgh.
y Remaining $252,000 owned by Duquesne Light Co.
Caunot be called_______ tf
175.000 Jan \ 1932
S t o c k . — Additional pref. stock may be Issued for additions Impts. and ex
Con Sub St Ry mtge ($175. 1902Ste5 g J-J
tensions onl v. Red as a whole on any div. dateat 115 and div. on 60 days’
000 guar_________________ Int. at Colonial Trust C o.. Plttsb.. Trustee.
27.500 Dec 1 1928
iiwtiee. Of the com. stock reported outstanding $3,500,000 is hold In the Kitt A Ford O 1st M $5$,000 1898 6 J-D
gold ($1.000)................... c* Pittsburgh Trust C o.. Pittsburgh. Trustee
1.680,000 Feb 1 1936
Th^S-year notes aro secured by $15,000,000 5% mtge. bonds of Alleg Vail St 1st A coll tr M 1906 5 g F-A
191$. The remaining notes may bo issued under certain restrictions upon
$2,000,000 g not redeema Interest at Union Trust C o.. Pittsburgh,
the pledge o f additional 5% mtge. bonds in like ratio. No additional 5%
ble ($1.000)............... c&rtf
Trustee. ^ M _g
88,000 Sep*. 1 1927
bonds may be issued while any of the notes are outstanding except to bo Versailles Traction Co first
nloclRcd as additional collateral. Rcu. at 101 tIj and int. on any int. date
m o r l£ g e r gold °.n .C ° .
P it| b u rg h T rn st C o .. P l g h
I
S
37
prtor to July 1 1919 at 101 and int. thereafter prior to July 1 1920. and at
° 'g k gu n AI N y 1WS I M t y ^ n t f 1I n t . at Colonial T r . C o .. F KUburgh^ trustee^.
b
1 0 and lnt. thereafter. Free from Pennsylvania State tax
Dividends -F lr s i dlv. on pref. stock, I H % . p a d May 1916: same rate
quar. sinco. First nuar. div. on com.. 1 .4
paid Mar. 31 1913; Sept., Pl500,000K ($13)00)? -carm ot jln t.^ a t Hafrlsburg^Tr^ C o - i.HarrteburK, or
1W%
Since then o Ivb have been 7-12% each month.
R E P O R T .— For years ending March 3 1 :
Hydro-Electric Co. of \VcstViI.
. A
tort &nPn i iqco
1917-18.
1916-17.
1917-18.
1916-17.
n , t mortgage
!* * * & ,.
Gross earns. _$9,842,395 *6.937.765 Impt. & bett’s
written o ff.
$25,438
Preferred Slock.— After 1918 no dlv. can bo paid on the com. stock unless
Net, aft. taxes$2,709,582 $2,890,885
60
$7,331 In addition to payment of the pref. stock divs. In full there has been re
Other incomo102,571
140,590 Misc. losses.Depreciation _ 371,370
282,486 served annually an amount equal to 3% on the th°n out^anilng pref.
414,503
time uni ess the
397,466 stock. No additional prer. suock cau uo Isxuod at any ^
............... jnai pref. stock can be
Tet. not inc.$2,812,152 $3,031,475 Pref. divid’ds.
re
.
.
o. v,. ~
the ouuuoi .
In*., rents, &c. $732,430 $541,946 Com. divid’ds 1,457,909 1,456,172 earnings applicable to pref. divs. are twice me annua[ requlrements^theretor Including the proposed issue Stock Is
tor.
Dine.,taxes,&c.
•a sale of sec.
38,568
28,648 Surp. tor y e a r .+$228,177 $317,426 and Is callable at 105. Pref. stock Is listed on the Louisville and Pl**sburgh
125.000.000^ M l
LATEST EARNINGS.— See Philadelphia Co.
PROPERTY, &o.— As o f March 31 1918, had a power station generating
capacity of 156,200 k. w.; 4,150 miles o f distribution lines; 409 miles of
transmission linos; 71.18 miles underground conduit; 73.402 customers;
total capacity of motor supplied, 231,637 h. p .. .?1 b R1 5,916 are lamps.
*
Output for year ending March 31 1918, 605,723,652 k.w.h., against
493,763,151 k.w.h. In 1916-17. „
„ _
T xr
„ T
OFFICERS.— Pres J D. Callory; V.-Ps., .1 . H. Reed and S. L. Tone;
Sea.! V B Clarson? T reas. C. J. Braun Jr - V . 104, p. 1492; V. 105, p.
V
1107, 2187; V. 100, p. 818. 1903, 2232; V. 107. p. 505, 607.
&!?<?„“
S
°XBmidT— $2,250,000 1st A ref. M . 5s are to b®
fhn
r,nn non notes of the West Penn Power Co., which see. o r the
West Pmn Tracticm Co. 1st M bonds. $9,175,000 are reserved to re
tire the bonds of constituent companies and balance
betterments at 90% of cost. As additional security all the outstanding
coll, trust bonds or 1910 of West Penn Ry*. and other securities owned are
deposited under the mtge. Through this deposit these bonds are secured
on the properties of tho subsidiary cos., subject to the o '^ sta" di“ ,L|^°<0r‘
/
lying issues. $591,000 are held in treasury. Ronds »re not subject to
call. See description of bonds and property in V 92, P- 597. The W. P.
Rys. Co. 1st M . bonds of 1905 are not subject to call. They are tax-free m
Penna. Listed on Phila., Louisville, Pittsburgh and Baltimore Stock Ex
changes. $500,000 P. M cK . A C 1st consols are
for
and
Impts., and $88,000 to retire sub. co. bonds. The ConnellsvUle Sub.
bonds woro guar., p. A i.. by the Pittsb. M cK . A Connellsville St. Ry.
and are callable at 105 and int. on 30 days notice. r
1
All the IF. P. Rys. coll, trust bonds are owned by co. and are on deposit
as part security for IF. />. Trac. Co. 1st M . bonds *90.(»0 OakdnTe &
McDonald bonds owned by West Ponn Rys. Co., not included in amount
reported outstanding. Int. is payable at ;agency of^company in N. Y .
City. Callable at par. Tax-exempt in Pa. $10,000 Alleg. Valley St.
Ry. 1st M . bonds (not Included In amount outstanding) are held in treasury
of West Penn Rys., are secured by a pledgo of entire capital stock of the
&U
au*«2 «
0 0 .
ORGANIZATION. — Incorp. In Penna. Jan. 14 1901. Oper. separately.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $1,000,000 ($50).................... r -r-A ------Ponna Lt. Ht & Power mtgol 1901
6 A.-C
150.000 April 1 1910
$160,000 ($1.000)_____n tflln t. at Colonial I rust Co., j’ ittsb trustee.
These bonds were purchased by the Duquesne Light, Co. In April 1916
EARNINGS.— For fiscal year ending March 31 1918. gross. *227.251.
net. after taxes, $01,181; other Income, $23,545, interest on bonds, &c..
$9,940; surplus tor year. *74,786.
A RTIFICIAL GAS.
(1) Consolidated Gas Co. of Pittsburgh.
All the common and $148,100 of the pref. stock Is ownod by Phila, Co.
of'W. F a .- O f the 1stM bonds o f 1913. *2.172 000 are
Tho Consolidated Gas Co. operates under a perpetual charter and with M u t d 7 o ^ l M C o C
the Allegheny Illuminating Co. and tho South Side Gas Co. constitutes the outstanding *nd are all owned by the West 1 enn Rys. Co., balance deonly gas-manufacturing companies in the city or l Ittsburgh aud the exclu
'*V
DRMcndL—lDIvs. on pref. stock were begun Sept. 15 1917.
sive right to manufacture Illuminating
ln. the'n :.
... .
Owns entire $2,000,000 atock and *2.000,000 bonds or the Allegheny
EARNINGS.— For years ending Dec. 31 (including subsidiaries)
Illuminating Co. and bledgcs them under Its first mortgage.
19 Months to
Cross Earns.
Net after
I xzed Charges,
Balance.
T
)f,r
Default.—Lnt. due Feb. 1 1916 on the 1st M . 5s was defaulted. Deposit
__
(all sources).
Taxes.
Dies. <Suh.Cos.) Surplus
of bonds has boon called tor by tho following committee: O. S. W. Packard. 1917 11
$7,732,692
$3,074,282
$1,938,425
S I.135,857
Chairman; A. O. Robinson, Thomas 8. Gatos, E. S. I age, B. Howell Gris 1 9 1 6 6 , 3 6 5 . 9 5 9
3.058.753
2.047.601
1,011,152
wold Jr., D. H. Hostetter and T . G. Daub; Sec., E . L. Brantlgam, 517
OPERATIONS, &c.—Owns or
mile* or track.
Chestnut St.. Phila. Depositaries, Ponn. Co. tor Ins. on Lives & Granting pole miles high-tension transmissioncontrols 339 47 over 90 cities and445 44
lines and serves
towns
Ann., Phila.. and Safe Deposit A Trust Co.. Plttsb. V. 102. p. 625.1989. (laving street lighting contracts In majority of municipalities served.
Equity Proceedings.— See under Philadelphia Co. above.
Green. Wash
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. Tho territory covered Includes Fayette. Westmoreland. Pa.; Hancock
ington. Allegheny. Butler and Armstrong counties in
Common $4,000,000 ($60).........................................— - Brooke, OhloandM arsliall counties in W. Va.. and Jefferson and Belmont
4 F-A
Pref 4% cum $2,500,000 ($ 5 0 )____
counties In Ohio. Generating capacity of plants owned and leased as of
First mortgago *5.000.000f 1898
6 g F-A
5,000.000 Feb 11948 Jan 1 1917 76.905 k. w. Has 309 motor passenger cars, 20 non-motor
($1,000) gold..................tf (Maryland Trust C o.. Baltimore. Trustee
passenger cars, 4 trailers. 26 work cars, 5 express cars, 8 sweepers and 49
Int. on bonds Is payablo at Brown Bros. 3c Co.. N . Y .. aud Alex. Brown other cars. 70-lb. T rail in country and heavy girder rails In cities and
A Sons, Baltimore.
_____ _
_
Gauge 5 ft. 2
and 4 ft. 3K in. Revenue passengers carried
EARNINGS.— For year ond. Mar. 31 1917. gross. *98.360; net after towns end Sept. 30 H In., 52.815.913. The towns served by thetroBev
in year
1916.
taxos (loss). $25 755; othor Income. $77,832; interest on bonds. 3cc.. *351.- lines include Duquesne, McKeesport, Traftord City, Irwin, Jeannette
280; deficit for year, $299,203.— V. 102. p. 525.1989.
104
ELECTRIC RAILWAYS.
G r e e n s b u r g , M t . P le a s a n t, B r o w n s v illo , L a t r o b o , A p o llo , L e e c h b u r g , F o r d
C it y , K it t a n n in g , N a t r o n a , T a r e n t u m , N e w K e n s in g t o n , A s p im v a ll a n d
I n te r v e n in g t o w n s .
C o n n e c t s w it h P it t s b u r g h R y s . C o . lin e s a t T r a f f o r d
C ity a n d M c K e e s p o r t.
O F F I C E I t s .— S a m e a s W e s t P e n n T r a c tio n & W a te r P o w e r C o .— V .
104, p . 2453; V . 105, p . 608, 820, 1523; V . 106, p . 298, 608, 1037.
(a )
W h e e l in g T r a c t i o n .— A tr o lle y r o a d .
O n O c t . 1 1 9 1 2 c o n t r o l w a s a c q u ir e d b y t h o W e s t P e n n T r a c t io n
(n o w W e s t P e n n R y s .) , w h ic h o w n s o v e r 9 9 % o f th e s t o c k .
C o.
O R G A N I Z A T I O N . — I n c o r p o r a t e d S e p t . 1 9 0 0 in W . V a . a s a c o n s o l i d a
t io n o f th o W h e e lin g R y . , t h e B e lla ir e B r id g e p o r t & M a r t in ’s F e r r y R y
a n d th e M o u d s v lllo B e n w o o d & W h e e lin g R a ilw a y .
T h o com p a n y ow ns
a l l o f t h e c a p i t a l s t o c k o f t h e C i t i z e n s ’ S t r e e t R a i l w a y C o . a n d le a s e s s a m e
fo r 99 y e a rs.
O w n s t h e c a p it a l s t o c k o f t h e S t e u b e n v ille & W h e e lin g
T r a c tio n C o .
O w n s th e e n tir e c a p it a l s t o c k o f th e W h e e lin g & W e s te r n
R R . a n d th e B e lla ir e S o u t h W e s te r n T r a c t io n C o . a n d P a n h a n d le T r a c t io n
C o.
S e e b e lo w .
C o n t r o ls W h e e lin g B r id g e C o . — V . 8 3 , p . 5 6 3 . 7 5 3 .
I n J a n . 1911 in c r e a s e d a u t h . s t o c k fr o m 5 2 ,0 0 0 ,0 0 0 t o 5 2 ,5 0 0 ,0 0 0 .
G r e a t e r p a r t o f fr a n c h is e * p e r p e t u a l.
F a r e s .— I n J u n e 1 9 1 8 a p p l ie d t o t h e W e s t V a . P . S . C o m m , f o r a u t h . t o
m a k e a g e n e r a l I n c r e a s e in fa r o s .
STO CK A N D BO N D S—
D a te . In ter es t.
O u tsta n d in g . L a s l d i v .,& c
.......... .............. 5 2 , 3 3 6 , 3 0 0
S ee te x t
S t o c k $ 2 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) . ...........................
W h e e lin g T r a c t io n 1st m t g e f 190 1
5 g J -J
2 ,5 0 0 .0 0 0 J a n
11931
$ 2 ,5 0 0 ,0 0 0 ( $ 1 ,0 0 0 , $ 5 0 0 ) ( I n t . a t C le v e la n d T r u s t C o . , C le v e la n d , tr u s .
g o l d ------------------------------------------- c * (
a n d I n t . a t N a t . B k . of Commerce, N . Y
3 0 -Y e a r g o ld 5s $ 1 0 ,0 0 0 ,0 0 0 / 1 913
5 J -J
1 7 0 ,0 0 0 J a n
1 1943
c & r \ In t. a t C o lo n ia l T r u s t C o ., P itts b u r g h , tru s.
1916 5 H
3 2 ,0 0 0 S e e te x t
E q u i p , t r u s t c t f s . c $ 4 0 . 0 0 0 ) ____D e c 1
W h e e lin g B r id g o C o $ 2 0 0 ,0 0 0 /
1890
5 g J -J
2 0 0 .0 0 0 J a n 1 1 9 2 1
1 st M c a n n o t b e c a l l e d .n t f li n t , a t F id e lity T . & T . C o .. P lt t s b ., T r u s te e
P a n h a n d le T r a c t C o 6 % s t k / 1 9 1 5
6 % £ > -J
3 0 9 ,5 3 0 D o c
1 1918
p u r c h n o te -- c a l l a t o a r . n t f l I n t . a t D o l t a r S a v . & T r . C o . . W h o e l ’ g , T r u s .
W h e e lin g B r id g e C o 6 % s tk
1913
6 % F -A
1 6 2 ,5 6 6 F e b 1 1921
p u r c h n o te s c a ll a t p a r . . t f l l n t . a t D o lla r S a v . & T r . C o ., W h e e l’g .T r u s
W h e e lin g & W e s te r n R y C o l 1 9 0 6
5 g M -N
2 3 5 ,0 0 0 M a y 1 1926
1 s t M 5 s $ 5 0 0 , 0 0 0 ( S l . O O O H G u a r . , p . & 1 ., b y W h e e l i n g T r a c t i o n C o
R ed
at
1 0 2 ________ c * _ n t f | I n t . a t D o l l a r S a v . & T r . C o . , W h e e l ’ g . T r u s .
)
G u a r ., p . & i ., b y W h e e lin g T r a c t io n C o .
B e lla ir e S W T r C o 1 st M l
1906
5 g M -N
6 5 ,0 0 0 N o v l 1926
$ 5 0 0 , 0 0 0 ( $ 1 . 0 0 0 ) _____ r & c * { I n t . a t D o l l a r S a v . & T r . C o . , W h o e l ’ g , T r u s .
R o d a t 102 a n d in t .
) G u a r p . & 1. b y W h e e l i n g T r a c t i o n C o .
Bonds.— F i r s t m t g e . b o n d s a r e s e c u r e d b y a p l e d g o o f $ 1 9 5 , 3 3 1 s t o c k o f
t h e C itiz e n s S t. R y . C o .
A r e r e d . o n a n y in t. d a y a t 1 0 5 a n d in te r e s t
u p o n 3 0 n a y s ’ n o t ic e .
V. 95, p. 619.
T h e 3 0 -y r . g o ld 5s b o n d s a r e fo r re
fu n d in g th e $ 2 ,5 0 0 ,0 0 0 1st M . b o n d s a n d f o r e x t e n s io n s a n d b e t t e r m e n t s
R e d . a t 105 a n d a c c r u e d In t. a t a n y In t. p e r io d .
V . 96, p. 1491.
Tho
$ 1 7 0 ,0 0 0 o u t s t a n d i n g a r e a ll o w n e d b y t h e W e s t P e n n R y s . C o .
The
W h e e lin g B r id g o C o . 6 % s t o c k p u r c h a s e n o te s o r ig in a lly m a t u r e d o n F e b . I
1 9 1 8 , b u t w ore re n o w e d fo r 3 y e a rs .
A r e s e c u r e d b y a d e p o s i t o f 8 2 0 4 ,5 0 0
W h e e lin g B r id g o C o . s t o c k .
T h e e q u ip m e n t t r u s t c e r t ific a t e s o f 1 9 1 6 w e re
f o r th e p u r c h a s o o f 8 n e w P - A - Y - E c a r s c o s t in g $ 4 3 ,6 9 8 . T h o y a r o t o m a tu r e
s e r ia lly a n d a r e t o b e p a id in fu ll a t t h o e n d o f 5 y e a r s . V . 1 0 4 , p . 2 5 8 .
D i v i d e n d s . —- F i r s t d i v . , 1 % , w a s p a i d J a n . 1 0 1 9 0 3 , a n d 1 % w a s a g a n
p a id J u ly 1 1 9 0 3 .
N o n e t o J u l y 1 9 0 9 , w h e n 1 % w a s p a i d ; I n 1 9 1 0 , 4 % ; in
1911, 4 % .
In 1 9 1 2 , 1913 a n d 1 9 1 4 . 5 % e a c h .
I n J a n . 1 9 1 5 4 4 % a n .i
s a m e a m o u n t q u a r t e r ly s in c e .
R O A D . — O w n s o r c o n t r o ls a n d o p e r a t e s 8 7 .7 3 m ll o s o f t r a c k I n W h e e lin g
a n d s u b u r b s , e x t e n d in g t o B a r t o n , S h a d y s id e , R a y la n d a n d W e lls b u r g
M o u n d s v ille , B e lla ir e a n d M a r t in ’s F e r r y .
A ls o h a s a lin o f r o m S t e u b o n v ille t o B r illia n t.
G a u g e , sta n d a rd a n d 5 ft. 2
i n.
H a s 161 c a r s . P o w e r
s t a t io n a t W h e e lin g .
V. 104, p . 258; V . 106, p. 2759.
(1) Steubenville & W heeling Traction Co.
A l l t h e c a p i t a l s t o c k is o w n e d b y t h e W h e e l i n g T r a c t i o n C o .
O R G A N I Z A T I O N . — I n c o r p . M a y 1 9 0 1 in O h io .
In S e p t . 1 9 0 5 a c q u ir e d
b y d e e d a ll th o p r o p e r t y o f t h e S t e u b e n v ille M in g o & O h io V a lle y T r a c . C o .
s u b je c t t o t h e b o n d s o r t h a t c o m p a n y in t a b le b e lo w .
V . 81, p. 1101.
STO C K A N D BO N D S—
D a le.
In ter es t.
O u tsta n d in g .
M a tu rity
.........................
$ 5 0 0 ,0 0 0
..........................
S t o c k 3 6 5 0 , 0 0 0 ( 8 1 0 0 ) ................................
F ir s t m t g o $ 6 5 0 ,0 0 0 g u a r g o l d I 1 9 0 5
5 g M -N
5 3 3 ,0 0 0 M a y 1 1 9 3 5
( $ 1 . 0 0 0 ) -------------------------------n t f j l n u . a t D o l l a r S a v . & T r . C o . . W h e e l i n g , t r u s t
S to u h M in g o & O h io V a l I s t M ) 190 0
5 g J J
1 1 7 ,0 0 0 J a n 1 19 2 0
$ 1 5 0 , 0 0 0 g ( S l . O O O '. c * n t f / I n t . a t E q u i t a b l e T r u s t C o . , N . Y . , t r u s t e e .
Bonds — O f t h e $ 6 5 0 , 0 0 0 n e w b o n d s $ 1 1 7 , 0 0 0 a r e r e s e r v e d f o r p r i o r H e n s .
A r o s u b je c t t o c a ll a t 1 0 2 a n d in t.
T h e y a r o g u a r ., p r in . & in t ., b y W h e e l
in g T r a c . C o .
E n t i r e is s u e o f S t e u b e n v i l l e M i n g o & O h i o V a ll e y b o n d s
is s u b je c t t o c a ll a t p a r a n d in t . o n 3 m o n t h s ’ n o t ic e .
R O A D . — S t e u b e n v il le t o B r illia n t a n d W h e e lin g t o R a y l a n d , 1 5 .3 2 m ile s
o f tra ck .
G a u g e , s ta n d a r d a n d 5 f t . 244 in .
12 c a r s .
P o w e r h o u s e is
lo c a t e d a t B r illia n t .— V . 8 1 , p . 1 1 0 1 .
(2) Panhandle T raction Co.
I n c o r p o r a t e d M a y 2 4 1 9 0 0 in W e s t V i r g i n i a .
a c q u ir e d b y t h e W h e e lin g T r a c t io n C o ., w h ic h
WEST PENN POWER CO.
ORGAN IZATION .— Incorp. 1 ’onnsylvanla March 1 1916 as a merger
of 53 cos., consolidating under a single foe ownership tho principal electrlr
light and power properties within the State of Pa. formerly owned by the
West Penn Trac. Co. (now West Penn Rai'ways C o.). Tho entire common
stock is owned by tho Railways Co. Also controls, through ownership of
entiro stock, tho Butler Eight, Heat & Motor Co. and tho Butler Ice Co.,
a subsidiary of tho Butler Light, Heat & Motor Co.
Does a general electric lighting and power business, serving some 78 cities
and towns In the territory surrounding Pittsburgh, Pa. Franchises, oxcopt
in communities from which the company derives loss than 5% of Its gross
earnings, aro In tho opinion o f counsel unlimited hi duration.
In Feb. 1918 Issued $1,500,000 2-yr. notes to provide funds for add’ns,
exts. and tmpts., a substantial part to bo expended upon the Counollsvlllo generating station of the West Penn Rys., leased oy this co. V. 106,
p. 612.
Govt. Advance for Power Plant.— In Aug. 1918 tho co. agreed to build a
40,000 k.w. station in tho Allegheny Valley to help out the power situation
in tho Pittsburgh district which had proven inadequate to meet tho Govern
ment's needs. The cost of tho plant and transmission lines will aggregate
about $5,000,000, of which the Ordnance Dept, will advanco $2,000,000
and the co. will provide the other 33,000.000. Provision is made for re
payment to tho Govt. 3 years after the war of such part of tho Government’s
advance as represents tho excess of tho appraised reduplication cost as of
that time over tho $3,000,000 contributed by the co. V. 107, p. 702.
In July 1918 issued 32,223,000 1st M . series " C ” 6% bonds proceeds
to bo used in the retirement of $2,000,000 6% coll, notos duo Aug. 1 1919,
which wo have eliminated from tho tablo, and for impts., betterments and
exts. V. 107, p. 403.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Com m on$10,000,000 ($100)............................ . . $10,000 000
P f 7% cum $10,000,000 ($ 1 0 0 )-----Q-F 1
2.750.000 Aug T 8,144
First mtge gold series " A ” 1916 . 5 M-S
8.500,000 Mar 1 1946
First mtge gold series “ O” / 1916
fig J-D
2.223,000 Juno 1 1958
($1.000)---- ---------- c*& r*tflEquitable Trust C o., New York, trustee.
2-year coll gold notes $1,500,-/ 1918
7 g F-A
1.500.000 Fob. 1 1920
000(3100,$590&$l,000)C*tf\Cont. & Comm. Tr. & Sav. Bk., Chic., Trus.
Stock.— Pref. stock Is red. as a whole or In part at 115 and accrued dlv
on any dividend date upon six months’ notice. See V. 102, p. 2082
Bonds.— The bonds are a 1st M. on all the physical property, rights
and franchises now owned or hereafter acquired and on the capital stock and
all the Indebtedness except current operating accounts o f the Butler Lt.,
lit . & Motor Co, Tho company covenants to construct or acquire not
later than Jan. 1 1921 a now power plant or plants having an aggregate
generating capacity of not less than 46,000 k. w.. to be subject to the 1st
M . lien of these bonds. Additional bonds may bo Issued at par for 75%
of the actual cost of permanent impts., additions or extensions under cer
tain restrictions. Series “ A** bonds are red. as a whole or in part on or
a fte r M a r . 1 1921 a t 1 05 & in t. o n 4 w e e k s ’ n o t ic e .
I n t . p a y a b le a t E q u it a
b le T r u s t C o ., N . Y . , o r C o n t . & C o m m . T r . & S a v . B a n k , C h ic a g o .
Taxe x e m p t in P e n n a .
T h e s e r i e s “ O ” 6 s a r e r e d . a l l o r in p a r t b e g i n n i n g J u n o 1
1923 o n th o 1st d a y o f M a r ., J u n e , S e p t, o r D e c . u p o n 4 w e e k s ’ n o t ic e
a t 1 06 a n d in t. V . 1 0 7 , p . 4 0 3 . T h o m tg e . p r o v id e s fo r a n a n n u a l e x
p e n d itu r e fo r m a in te n a n c e as fo llo w s : 1 9 1 6 -2 0 , 1 4 4 % o f b o n d s o u t ; 1 9 2 1 -2 5 ,
2 % ; 1 9 2 6 -4 6 , 2 4 4 % ; a ls o fo r a d e p r e c ia t io n fu n d o f 2 % o f b o n d s o u t b e g in
n in g w it h 1 9 1 6 f o r a d d i t io n s , i m p t s ., & c ., a g a in s t w h ic h n o fir s t m t g e .
b o n d s m a y o e Issu ed . V . 1 0 2 , p . 8 9 1 .
T h e $ 1 ,5 0 0 ,0 0 0 c o ll , n o t e s o f 1 9 1 8 a r e t o b e s e c u r e d b y $ 2 ,2 5 0 ,0 0 0 W e s t
P e n n R y s . C o . 1st A R e f. M . 5 s .
P e n d in g th e Issu a n ce a n d p le d g o o f s u c h
b o n d s t h e r e w il l b e p l e d g e d i n l i e u t h e r e o f e i t h e r ( a ) o t n e r b o n d c o d a t e r a l
In l i k e r a t i o , o r ( 6 ) c a s h a t p a r .
T h e n o t e s a r e c a l l a b l o a l l o r in p a r t o n
3 0 d a y s ’ n o t ic e o n o r p r io r t o A u g . 1 1 9 1 9 a t 1 0 0 a n d in t ., a n d th e r e a ft e r
a t 1 00 a n d in t .
I n t e r e s t p a y a b le In N . Y . o r C h ic a g o w it h o u t d e d u c t io n
o f n o r m a l F e d e r a l in c o m e ta x t o th e e x t e n t o f 2 % .
T a x - e x e m p t in P e n n
s y lv a n ia . V . 1 0 6 , p . 6 1 2 .
Dividends— Dtvs. on pref. stuck nave been paid since organization
E A R N I N G S .— F o r y e a r e n d in g D e c . 31 1 9 1 7 , g r o s s , $ 4 ,0 0 0 ,3 4 9 ; n e t ,
a f t e r t a x e s , $ 1 ,4 8 8 ,1 1 .3 ; in t e r e s t , r e n t a ls a n d a m o r t i z a t i o n , $ 7 0 7 ,9 1 0 ; s u r
p lu s , $ 7 8 0 ,2 0 3 .
I n 1 9 1 6 , g r o s s , $ 3 ,0 3 9 ,5 7 8 ; n e t , a ft e r t a x e s , $ 1 ,5 9 3 ,4 4 9 ;
fix e d c h a r g e s a n d p r e f. d i v s ., $ 0 5 8 ,6 9 5 ; s u r p lu s , $ 9 3 4 ,7 5 4 .
P R O P E R T Y . — I n c lu d e s 6 e le c t r i c g e n e r a t in g s t a t io n s . I n s t a lle d c a p a c i t y
3 4 ,5 6 1 k . w . , 6 0 s u b - s t a t i o n s ( t r a n s f o r m e r c a p a c i t y 1 0 1 ,6 7 5 k . w . ) , a n d 3 8 7
p o le m ile s o f h ig h t e n s io n t r a n s m is s io n lin e s , e x c lu s iv e o f lo w t e n s io n d is t r ib
u t i o n lin e s In c i t i e s a n d t o w n s .
C o m p a n y a ls o le a s e s t h e p o w e r p la n t o f t h e
W e s t P e n n R y s . C o . a t C o n n e lls v ille , P a ., g e n e r a t in g c a p a c it y 5 6 .8 7 5 k . w .;
a ls o a s m a ll p la n t o f 3 .7 5 0 k . w . c a p a c i t y ; 2 7 m ile s o f 1 3 2 .0 0 6 v o l t s t e o i
t o w e r t r a n s m is s i o n l i n e is u n d e r c o n s t r u c t i o n .
O f t h e I n s t a lle d c a p a c i t y
o w n e d , 3 0 ,0 0 0 k . w . c o n s i s t s o f t h e c o ’ s h a l f o f t h o I n itia l i n s t a ll a t io n ( p l a c e d
In o p e r a t i o n N o v . 1 9 1 7 ) o f t h e n e w g e n e r a t i n g s t a t i o n a t W i n d s o r , W . V a . ,
c o n s tr u c te d jo in t ly fo r th o c o . a n d th e A m e r ic a n G a s &
E le c t r ic
C o.
(s e e V . 1 0 6 , p . 2 9 8 ) .
O F F I C E R S . — - P r e s . , A . M . L y n n ; V . - P . ’ s W i l i i s t o n F i s h a n d .1. S . J e n k s ;
V .-P . & S e c ., R a y m o n d B . K e a t in g ; T r e a s . & A s s t. S e c ., C . C . M c B r id e ,
P itts b u r g h ; A n d . & A s s t. T r o a s ., J o h n Y o u n g .— V . 1 0 4 , p . 1 7 0 8 ; V . 1 0 5 ,
p. 1528; V . 106, p . 298, 607, 612, 1124; V . 107, p . 4 0 3 , 702, 808.
PITTSBURGH MARS & BUTLER R Y —
O R G A N I Z A T I O N .— S u c c e s s o r t o th e P it t s b u r g h & B u tle r S t . R y ., th e
I n te r u r b a n d iv is io n o f th o P itts b u r g h & B u t le r R y ., w h ic li w a s s o ld a t fo r e
c lo s u r e M a y 9 1 9 1 7 ( V . 1 0 4 , p . 1 9 0 0 ).
O n S e p t. 5 1917 m a d e a m o rtg a g o
t > t h e D o l l a r S a v in g s & T r u s t C o . , P i t t s b u r g h , s e c u r i n g a n is s u e o f $ 1 ,
2 5 0 ,0 0 0
b o n d s t o p r o v id e fo r m p r o v e m e n t s , & c .
T h o o ld B u tle r P a s s e n g e r
R y ., th e C it y D iv is io n o f th e P itts b u r g h & B u tle r R y .. w a s ta k e n o v e r Dy
th e 1 s t M . b o n d h o ld e r s a n d r e o r g a n iz e d a s t h o B u t le r R y s . C o . , w h ic h s e e
u n d er " B u t le r , P a .”
Authority to Lease Refused.— S e e " P i t t s b u r g h H a r m o n y B u t l e r & N o w
C a s tle R y . C o . ” b e lo w .
Fares.— I n A p r i l 1 9 1 8 f i l e d a n o w f a r e s c h e d u l e w i t h t h o P e n n a . P . S .
C o m m ., e f fe c t iv e A p r il 2 0 1 9 1 8 , p r o v id in g f o r a p a s s e n g e r fa r e o f 6 c e n ts
p e r z o n o w ith 10 t ic k e ts fo r 5 5 c e n t s .
I n c r e a s e s in p a c k a g o a n d f r e i g h t
ra te s w e r e a ls o p r o v id e d fo r .
P . E . S e d d o n , S t a n w i x B l o c k , P i t t s b u r g h , P a . , is T r e a s u r e r o f t h o c o m
p a n y .— V . 1 0 5 , p . 9 9 8 ; V . 1 0 6 , p . 1 5 7 8 , 2 3 4 6 .
PITTSBURGH HARMONY BUTLER & NEW CASTLE R Y . CO.
O R G A N I Z A T I O N . — I s a c o n s o l i d a t i o n in 1 9 0 6 o f s e v e r a l s m a l l c o m
p a n ie s .
In F e ll. 1 9 1 0 a u t h o r iz e d s t o c k w a s In cre a se d fr o m $ 3 ,0 0 0 ,0 0 0 t o
1 3 .5 0 0 .0 0 0 .
Authority to Lease Refused.— I n M a y 1 9 1 8 t h o P e n n . P . 8 . C o m m , d e n i e d
th o c o . p e r m is s io n t o lo a s o t h o P it t s b u r g h M a r s & B u tle r R y . o n t h o g r o u n d
t h a t t h o p r o p o s e d le a s o w a s n o t w a r r a n t e d b y p u b lic n e c e s s it y o r c o n v e n i
e n c e , a n d t h a t t h o r o n t a i p r o p o s e d w a s o x c e s s iv o , c o n s is t in g o f in t . o n $ 9 0 0 ,
0 0 0 o f b o n d s a n d c e r ta in s p e c ifie d d iv s . o n s t o c k . V . 1 0 6 , p . 2 3 4 6 .
STO C K A N D BO N D S—
Date.
Interest. Outstanding.
Maturity.
■ R o c k $ 3 , 5 0 0 , 0 0 0 . ..................... ....................................................
$ 3 ,0 0 0 ,0 0 0
............................
1st
m tg e
$ 3 ,5 0 0 ,0 0 0
g o ld / 1906
5 g J -D
2 .9 0 0 .0 0 0 J u n o 1 1 9 3 6
( S I .0 0 0 )
c * t f \ I n t . a t U n io n T r u s t C o . , P it t s b u r g h . T r u s t e e
Bonds.— T h e $ 6 0 0 , 0 0 0 u n i s s u e d a r e r e s e r v e d f o r f u t u r e e x t e n s i o n s .
E A R N I N G S .— F o r 12 m o n th s e n d e d N o v . 3 0 .
Year—
Gross.
Net.
Int. & Taxes.
$ 2 7 8 ,8 1 0
2 8 6 ,6 5 7
1 9 1 6 - 1 7 . . . ..................... ..............$ 8 1 2 , 0 2 1
1 9 1 5 - 1 6 ........................... .. .............. 7 1 4 , 8 2 9
$ 1 8 8 ,6 1 3
1 7 6 ,7 2 0
Sut plus.
$
9 0 ,1 9 7
1 0 9 ,9 3 7
R O A D . — O p e r a t e s 6 8 .5 m ile s o f t r a c k f r o m
P itts b u r g h , v ia W e x fo r d .
E v a n s C i t y , H a r m o n y a n d E llw o o d C i t y , t o N e w C a s t le , w ith a b r a n c h fr d m
E v a n s C it y t o B u t le r .
E n te r s P itts b u r g h o v e r th e tr a c k s o f th e P itts b u r g h
R ys. C o.
O n D o c . 3 1 9 1 3 p l a c e d In o p e r a t i o n a n e x t e n s i o n f r o m E l l w o o d
C i t y t o B e a v e r F a lls , 6 4 4 m ile s .
O F F I C E R S .— P r e s .. R
it. B o g g s: V .-P .. J osop h II. M o o r e : S e c. &
T r o a s ., P . E . S e d d o n ; A n d ., C . G . M a r t in .— V . 1 0 6 , p . 2 3 4 6 .
PLATTSBURG, N. Y.
In J a n . 1 9 0 6 c o n t r o l w a s
n o w o w n s e n tir e s t o c k .
STO CK A N D BO N D S—
D a le.
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) __________ _______
______________
$ 5 0 0 ,0 0 0
____________
F ir s t m o r t g a g e $ 5 0 0 ,0 0 0 g o l d ! 1 9 0 2
5 g A -O
5 0 0 ,0 0 0
O c t. I 1932
( $ 1 , 0 0 0 a n d $ 5 0 0 ) ___ c ^ n t f l l n t . a t C o l u m b i a T r . C o . . N . Y . , t r u s t e e .
Bonds.— A r e s u b j e c t t o c a l l o n a n y i n t . d a t e a t p a r a n d I n t . o n 3 0 d a y s
n o t ic e .
R O A D . — O p e r a t o s 1 9 .1 9 m ile s o f t r a c k f r o m W h e e l in g t o L a z o a r o v ill e ,
m o s t ly o n p r iv a t e r ig h t o f w a y .
C o u n t y franchises a r o p e r p e t u a l .
17 c a r s .
S t a n d a r d g a u g o ; 7 0 -lb . T a n d 9 0 -lb . g ir d e r r a il.
[Vol . 107
PLATTSBURO TRACTION C O .—A trolloy road.
Delaware & Hudson Co. owns entiro stock and bonds.
O R G A N I Z A T I O N , &c.— C h a r t e r e d M a y 2 7 1 8 9 6 .
Franchise
50 years
fr o m N o v . 2 0 1 8 9 5 .
C a p it a l s t o c k , $ 1 0 0 ,0 0 0 (p a r $ 1 0 0 ).
F ir s t m t g e . 6 %
g o l d b o n d s o f 1 8 9 6 , d u o 1 9 2 6 ; i n t . .1. & J . ( t f > a t C o n t i n e n t a l T r u s t C o . ,
N . Y . . t r u s t e e ; a u t h o r iz e d , $ 1 0 0 ,0 0 0 ; I s s u e d . $ 8 0 ,0 0 0
Dividends.— A n n u a l d l v . I n ( J a n . ) 1 9 1 0 , 4 % ; In 1 9 1 1 , 5 % : I n 1 9 1 2 , 6 %
n 1 9 1 3 , 5 % : In 1 9 1 4 . 4 % ; In 1 9 1 5 . 4 % .
N o n e s in c e .
EARNINGS—
Year Hading—
Gross
Earnings.
Net
Earnings.
Other
Income.
Taxes *
Charges.
Balance,
Surplus.
$ 1 0 ,4 6 2
................
..........
..........
D o c . 3 1 1 9 1 7 __________ $ 3 8 , 8 7 8
D e c . 3 1 1 9 1 6 ................
3 7 ,8 8 4
1 3 ,7 4 2
488
$ 8 ,1 7 6
$ 6 ,0 5 4
J u n e 3 0 1 9 1 0 __________ 3 3 . 2 9 3
1 1 .4 3 8
289
8 ,0 8 5
3 ,6 4 2
R O A D . — O w n s 7 .5 3 m ile s o f t r a c k ; r a il, 5 0 t o 8 0 - lb . T .
P r e s ., E . N .
S a n d e r s o n , N . Y . ; V .- P s ., W . I I . W illia m s , N . Y .;
F . P . G u to ilu s a n d
I I. B . W e a th e r w a x , A lb a n y ; A s s t, t o V .- P ., O . H . P a r k e r , N . Y .; S e c . &
A u d . , W . H. E l d e r ; T r e a s . , H . F . A t h e r t o n , A l b a n y ; A s s t . T r o a s . & G e n .
M g r ., I t . L . B a r b e r , P la tts b u r g ; C o m p t ., W . H . D a v ie s , N . Y .
PLYMOUTH, MASS.
BROCKTON & PLYAIOUTH STREET RAILW AY.
ORGANIZATION.— Chartered on Jan. 3 1900 as the Pombroko St. Ry.
In Sopt. 1900 was consolidated with tho Plymouth & Kingston Street Ry.
and the Brockton & Plymouth Street Iiy., and In Nov. 1900 name changed
as above. Does electric railway business from Brockton to Plymouth and
in tho intervening towns. In Feb. 1907 Mass. RR. Commission granted
authority to do a freight business In tho towns of Whitman, Hanson and
Pombroko. Franchise perpetual.
STO C K A N D B O N D S—
Date.
Interest. Outstanding. Maturity.
S t o c k c o m $ 2 9 5 , 0 0 0 ( $ 1 0 0 ) ____________
P r e f $ 1 1 0 ,0 0 0 ($ 1 0 0 ) 6 % c u m l
( r e d e e m a b l e a t 1 1 2 ) . .............I ______
F ir s t m o r t g a g o $ 3 0 0 ,0 0 0 g o l d ) 1 9 0 0
__________
6 M -S 1 5 '
444 g J -D
$ 2 9 5 ,0 0 0
1 1 0 ,0 0 0
2 6 0 ,0 0 0
_
_________
S ee te x t
D e c 1 1920
($1,000)---------------c * r.n tf/In t. at Old Colony Tr. Co., Boston, trustee.
Bonds.— $35,000 bonds In addition to amount roported outstanding are
held in treasury.
.]
Dividends.— An Initial dividond—3 % — was paid on pref. Sopt. 15 1909.
Same amount semi-ann. to and inch Mar. 1916. Nono since.
i
EARNINGS.— For 12 months ending June 30:
Year—•
Gross. Exp.&Tax.
Net.
Interest.
Bahin re.
1917-18__________ SI 18,549 $122,055 def.$3,506 $ 1 5 ,8 6 8
dcf.S19.374
1916-17---............. 125,563
119,023
6,M0
13,796
____
dcf. 7,256
R OAD.— Plymouth through Kingston, Pembroko and Hanson to Whit
man, 24.3 miles of track.
28 pass, and 9 other cars. Standard gaugo.
Power station capacity of 825 k .w .
OFFICERS.— Pres., A. Stuart Pratt; V .-P., Chas. I. Litchfield: Clerk,
Wra. T . Crawford; Treas., Henry B. Sawyer; Gen. Mgrs., Stone & Webster
Mgt. Assn.; Mgr., Montelle C. Smith.— V. 88, p. 748; V. 102, p. 1810;
V. 103, p. 1031; V. 104. p. 1898.
POMEROY, OHIO.
OHIO RIVER ELECTRIC R Y . & POWER CO.— A trolloy road. 1
ORGAN IZATION .— Incorp. In Ohio, 1914. Old co. of same namo, In
corp. In Delaware In 1900, taken over by present co., subject to $315,000
1st M . 5% bond Issue. Owns all the capital stock ($30,000) of tho Pomeroy
& Middleport Electric Co.
.
Se p t ,,, 1918.]
i
ELECTRIC RAILWAYS
1 05
106
ELECTRIC RAILWAYS
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Common stock $200.000...........................................
$150,000 __________
1st pref stock $200,000______ _____
______ _
150.000 ..................
1st m tge$315.000gold ($100 j 1900
5 g J-J
315.000 July 1 1924
S500, $1.000)--------- c * .n tf I Tnt. at Columbia Ave. Tr. C o.. Phlla.. Trust.
EARN INGS.— For cal. year 1917 and years ending June 30 1917:
Year—
Gross.
Net.
Oth. Inc. Int.ATaxcs. Surplus.
1 9 1 7 -.-....................$90,929
$28,039
$2,298
$19,977
$10,360
1916-17 --------------- 89,620
28,887
2,334
19,950
11,271
1915-16 --------------- 83,263
33,105
2,244
19,375
15,974
ROAD.— Own* and operates 12 44 miles o f road extending through
Mlddleport. Pomeroy, Syracuse and Racine, Ohio.
OFFICERS.— Pres., I. L. Oppenheimer; V .-P., F. W . Bacon; Sec.,
J. K . Trimble; Treas., Harry Williams Jr. General office, Phlla., Pa
—V. 99, p. 1301.
P Q R T ~ C L IN T O N 7 O H IO .
NORTHWESTERN OHIO RAILWAY & POWER CO.
ORGAN IZATION .— Incorp. In 1912 In Ohio to take over the Toledo
Port Clinton A Lakeside Ry. (V. 9.5, p. 48), which In April 1913 reduced
Its capital from SI .800,000 to $1,500,000. All o f the $800,000 (authorized
and issued) com., $500,000 (auth. $700,000) pref. and $1,293,000 (auth.
$5,000,000) 1st M . 5s are owned by the General Gas & Electric C o., which
see In our Ry. A Ind." Section. Does an electric light and power business
In Curtice, Olay Center, Genoa, Elmore, Oak Harbor, Gypsum, Danbury,
Port Clinton Lakeside and Marblehead.
Fares.— In July 1918 filed new tariffs providing for a passenger rato of
2 yi cents per milo.
EARNINGS.— For 12 mos. ending Dec. 31 1917, gross, $288,030; not,
after taxes. $23,972: interest. $67,526: deficit. $43,554. In 1916, gross,
$268 541: not, after taxes, $58,699: Interest. $66,149: deficit, $7,450.
ROAD, A c.— Operates 59 miles o f track from Toledo to Elmore. Oak
Harbor, Port Clinton and Marblehead. In addition operates a line during
the summer mouths to Bay Point, 3 miles east o f Marblehead, thus making
direct connections with Cedar Point and Sandusky. In Toledo operates
on about 3 miles of Toledo Rys. A Lt. track. Standard gauge, 70-lb. T rail
10 pass. cars. 2 oxpress motor cars, 34 non-motor freight cars; total, 46 cars.
V. 95, p. 48. 176.
OFFICERS.— Pres.. W. S. Barstow; V .-P., J. B. Taylor; Treas., O. C.
Swenson; Sec., C. N. Wilson; Asst. Sec., Geo. H. Tuttle; Asst. Treas. A
Aud., E. II. Reehberger; Gen. M gr.. E. A. Burrill; Gen. Mgrs., W . S.
Barstow Management Association.— V. 107, p. 83.
P O R T J E R V IS , N . Y .
PORT JERVIS TRACTION CO.
ORGANIZATION.— Incorporated In New York on June 1 1910 to take
over the railway business of the Port Jervis Elec. Lt. Pow Gas A R lt.O o.
sold at auction on Jan. 27 1909. The Port Jervis Light A Power Co.
($118,000 stock. $188,000 bonds) was also Incorp. to take over the light
and power business. The bonds of the Traction Co. are owned by the Light
S Power Co.
c
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $20.000.......... ............................................
$19,985 ...................
Mortgage $70,000 gold___ c * \ ____
5 g A-O
70.000
1960
Int. pay. at office of trustee|Orange Co. Tr. Co.,M lddlotown.N.Y.,Trus.
Bonds.— Subject to call at 105 on any Interest day
ROAD.— Operates 4.3 miles of track. 70-lb. T and 93-io. girder rails.
8 cars.
OFFICERS.— Pres., Geo. H. Stephonson; Sec., M . F Maury; Treas ,
O. C. Corwin; Supt., Frank Carlow.— V, 88, p. 158. 296; V. 99. p. 271.
[Vol . 107.
L i g h t C o . a n d $ 2 2 9 ,0 0 0 in t r e a s u r y o f Y o r k C o u n t y P o w o r C o .
O f th «
r e m a in in g $ 1 , 7 5 2 , 5 0 0 , $ 7 1 9 ,5 0 0 a r o r e s e r v e d f o r u n d e r ly in g H ons a n d
$ 1 , 0 3 3 , 0 0 0 f o r a d d it i o n s a n d I m p r o v e m e n t s .
B o n d s a ro re d e e m a b le a t
105 o n a n y In te r o s t d a t e u p o n 6 0 d a y s ’ n o t i c e .
Sinking fund o f H o f 1 % ’ o r
b on d s o u t b eg a n D e c. 1 1917.
V . 9 9 , p . 1451, 1 59 7.
$ 4 3 ,5 0 0 A g a m e n ic u s
E l . L t . , $ 2 2 ,5 0 0 W e l l s E l . L t . A P o w . C o . a n d $ 3 7 ,0 0 0 K e n n o b u n k E l . L t .
C o . b o n d s , iu a d d it i o n t o t h e a m o u n t s r e p o r t e d o u t s t a n d i n g , a r e h e ld b y t h e
tru stoe o f th o Y o r k C o . P o w . C o .
A ll th ro e m tg e s . aro c lo s e d .
G u ar, b y
Y o r k C o . P o w . C o . ; i n t . p a y a b l e a t U n io n S . D . A T r C o l , P o r t l a n d ,
tru ste e .
Y o r k L t . A H t . C o . 1st c o n s . r o f . b o n d s h a v o a s in k in g fu n d
w h ic h b e g a n A p r il 1 1 9 1 1 o f 2 % o f g r o s s i n c o m e ; $ 1 6 ,0 0 0 a r e h o ld in s i n k . f d .
Dividends.— 6 % p . a . w a s p a i d o n t h o p r e f . s t o c k f r o m F e b . 1 1 9 1 2 t o
M a y 1 1 9 1 8 , b o t h i n c l.
N o n e s in ce .
T h e M a y 1 1 9 1 8 d i v i d e n d w a s p a id
in s c r i p .
In itia l d iv . o f 1 % p a id o n c o m . D e c . 1 1916; s a m e r a to q u a r.
t o S ep t. 1917.
N o n e s in c o .
E A R N I N G S . — O f c o m b i n e d p r o p e r t i e s f o r y e a r e n d in g J u n o 3 0 :
June 3 0
Gross
Net ( after
Interest Pref. Div.
Bad. for
Year—
Earnings.
Taxes.)
Ac.
(6 % ). Com. Dies.
$ 9 S 2 ,8 7 9
$ 8 4 7 ,6 3 2
$ 1 3 8 ,0 0 0
d e f .$ 2 ,7 5 3
1 9 1 7 -1 8 ------- ---------- $ 3 ,1 4 1 ,6 3 4
1 9 1 6 - 1 7 -------------- 2 , 9 7 5 , 2 7 1
1 ,0 1 4 ,8 9 2
8 1 4 ,1 6 0
1 3 8 ,0 0 0 s u r .6 2 .7 3 2
P R O P E R T Y . — O n J u l y 12 1 9 1 7 t h o c o . p l a c e d in o p e r a t i o n t h o f ir s t
s e c t i o n , c o n t a i n in g a .3 ,0 0 0 k . v . a . u n it o f a n e w g e n e r a t in g p la n t o n t h o
S a c o R i v e r a t H ir a m F a lls , w h ic h is t o h a v o a n u lt im a t e c a p a c i t y o f 2 0 ,0 0 0
k. v. a.
I n a d d i t i o n , t h e c o . o w n s o r c o n t r o ls 4 h y d r o - e l e c t r i c p o w e r p la n t s
o n t h e S a c o a n d P r c s u m p s c o t r iv e r s w it h in 2 5 m ile s o f P o r t la n d a n d 6 s t e a m
p o w e r p l a n t s , c o m b i n e d c a p a c i t y 2 9 ,5 0 0 k . w . , w it h t r a n s m is s io n lin e s t o
P o r t l a n d , c o v e r in g e n t ir e c i t y a n d s u b u r b s ; a ls o t o S a n fo r d , M e . , a g g r e g a t
in g 108 m .
T h e s in g le - t r a c k m ile a g e o f t h e c o n t r o ll e d r a ilw a y s is 271
O F F I O E R S . — l ’ r e s .. W m . \1. B r a d l e y ; V . - P s . , P . G . D o s s i e r a n d F r a n k
S illlm a n J r . ; V . - P . A G e n . M g r . . A . I I . F o r d : T r e a s . A C l e r k . O h a s . F .
B e r r y ; S e c. A A s s t. T r e a s .. O . A . P e a rso n . Jr.
U ndpr m an agem en t o f E . W .
C la r k A C o . M g t . C o r p .— V . 106 , p . 5 0 3 , 1461; V . 107, p . 501 .
(1 ) L e w i s t o n A u g u s t a A W a t e r v i l l o S t r e e t R v .
C u m b e r la n d C o u n t y L . A P . C o . o w n s $ 2 ,3 9 3 ,6 0 0 o f th o c o m m o n s t o c k .
O R G A N I Z A T I O N . — I n c o r p . In M a i n e O c t . 2 3 1902 a s t h e A u b u r n M e
c h a n i c F a lls A N o r w a y S t . R y . . w h ic h w a s , o n A p r il 2.3 1 9 0 7 , c h a n g e d t o
p r e s e n t t it l e .
A c q u ir e d t h o p r o p e r t ie s , A c . , o f t h o L e w is t o n B r u n s w ic k A
B a t h S t . R y . ; A u g u s t a W i n t h r o p A G a r d in e r R .v .; A u b u r n A T u r n e r R R .
C o . ; B r u n s w ic k A Y a r m o u t h S t . R y . ( f o r m e r ly t h o P o r t la n d A B r u n s w ic k
S t . R .v .) a n d t h o F r e e p o r t E le c . L t . , l i t . A P o w . C o .
V . 8 4 , p. 1182.
E l e c t r ic r a ilw a y s la r g e ly o n p r i v a t e right, o f w a y : r e m a in d e r u n d e r f a v o r a b l o fr a n c h is e s , m a j o r i t y o f w h ic h p e r p e t u a l .
D o e s t h o e l e c t r i c lig h t a u d
p o w e r h u siriess in F r e e p o r t
A ls o d o e s a n e x t e n s i v e freig h t, b u s in e s s .
Rehabilitation.— I n J u l y 1 9 1 8 i t w a s r o p o r t o il t h a t t h o U . S . S h i p p i n g
B o a r d E m e r g e n c y F le e t C o r p . h a d a g r e e d t o a s s is t t h o c o m p a n y t o t h «
a m o u n t o f $ i 6 5 , 0 0 0 In t h e r e h a b i l it a t i o n o f s e r v i c e b e t w e e n L o w i s t o n a n d
B a t h a n d in i m p r o v e m e n t s t o o t l i o r lin e s b y p r o v i d i n g n o w c a r s , t r a n s
f o r m e r s , t r a n s m is s io n lin e s a n d o t h e r e q u i p m e n t .
V . 107, p . 501 .
F a res .— O n M a r . 1 1 9 1 8 p u t i n t o e f f e c t a n o w fa r o s c h e d u l e b e t w e e n
L e w i s t o n a n d B a t h , b a s e d o n t h e 'z o n e s y s t e m .
STOCK AN D BO N D S—
Date.
Interest. Outstanding. Maturity.
S t o c k c o m $ 2 , 4 0 0 , 0 0 0 ( $ 1 0 0 ) ...................................... _ _
$2,400,000
P r o f $ 6 0 0 ,0 0 0 ( $ 1 0 0 ) 6 % c u m ..............
Q -F
6 0 0 .0 0 0 Feb ’ 18,
F ir s t
and
r e fu n d i n g
m o r t / 1907
5 g A -O
____ ______
____
______
1,700.000 April_ 1 1937
g a g e $ 5 ,0 0 0 , 0 0 0 ( $ 1 , 0 0 0 ) ; I n t . a t O ld C o l o n y T r . C o . , B o s t o n , T r u s t
g o l d .................... .....................c * t f a n d E . W . C l a r k A C o . , P h il a d e l p h i a .
N o t e s S e r C $ 7 5 0 ,0 0 0 g ( S I . - / 1 9 1 5
7 g J -D
6 1 4 .0 0 0 J u n o 1 1 9 2 1
0 0 0 ) re d a t 101 a n d i n t . c t f \ I n t . a t F i d e l it y T r » ,s t C o . , P o r t l a n d , T r im .
Securities of the Lew. Bruns. A Bath St. lly.—
F ir s t m t g e $ 1 ,0 0 0 , 0 0 0 g o l d ? 1 8 9 8
6 g M -S
8 4 5 .0 0 0 M c h 1 192®
($ 5 0 0 A $ 1 ,0 0 0 ) c lo s e d c r it f \ I n t . a t S t a t e T r u s t C o . , A u g . , M o . , T r u s t e e .
P O R T L A N D , M E.
Securities of the Aug. Win. A Gar. Ry.—
CUMBERLAND COUNTY POWER & LIGHT CO.— (See Map on A u g . H A O g e n m t g e c o n - / 1 90 1
4 g J -J
5 5 .5 0 0 J u l y 1 1 9 5 1
page 105.)
v o r t ib le ( S 5 0 0 S 1 .0 0 0 ) c n t f l l n t . a t A u g u s t a T r . C o , A u g u s t a , T r u s t e e .
ORGANIZATION.— Incorp. in Maine March 14 1907. On Fob. 1 1912 A u g H A O p r e f s t o c k ...................................
4%
1 9 4 .5 0 0 J u l y
1 195 1
acquired practically all the common stock of the Lewiston Augusta A Water- A u g W in A G a r d 1st M $ 1 5 0 . - / 1 9 0 2
4 K J -J
5 ,3 .0 0 0 J u ly
1 1 95 2
villo St. Ry. anil leaned for 99 years the Portland RR. Co. V 94. p 826
0 0 0 c o n v ($ l ,0 0 0 A S 5 0 0 )g c n t f l i n t , a t A u g u s ta T r . C o .,A u g u s t ,a .M o .,T r u s t .
In July 1912 acquired all the properties, rights and franchises of Consolidated A u g W i n A G a r d p r e f s t o c k . . _____
4%
9 7 .0 0 0 J u l y
l 1 95 2
El. Lt. Co. of Maine, Portland Ltg. A Pow. Co. and Portland El. Co., which A u g W i n A G a r d g e n M $ 1 2 5 . - / 1 9 0 5
5 g J -J
1 0 0 .0 0 0 J a n 1
1935
cos. were previously controlled through stock ownership. On Dec. 18
0 0 0 ($ 5 0 0 S I , 0 0 0 ) g o l d e n t f 1 I n t e r e s t a t A u g u s t a T r u s t C o . . T r u s t e e
HP 2 purchased capital stock of the 0*slpee Valley Powor Co. On Feb. I
Bon ds . — T h o $ 5 .0 (8 3 ,0 0 0 1st A r o f . M . b o n d s a r e s u b j e c t t o c a ll o n a n y
1913 acquired practically all the common stock of the York Power Co., con in t . d a y a t 1 0 7 % a n d in t . o n 6 0 d a y s ’ n o t i c o . N o s in k in g f u n d . $8 5 .3 ,0 0 ®
trolling the York Lt. S Ht. Co. V. 97. p. 368. In April 1913 the Ossipee a r o d e p o s i t e d t o s e c u r e t h o 3 - y e a r n o t e s ; $ 1 6 2 ,0 0 0 p l e d g e d a s c o ll a t e r a l f o r
c
Valley Pow. Co. and the York Pow. Co. were merged forming the York n o t e s p a y a b l e , $ 1 6 1 ,0 0 0 in t r e a s u r y ; 8 1 , 3 4 5 , 0 0 0 a r o r e s e r v e d f o r p r io r
County Power Co. Also controls the Westbrook Electric Co. Does lie n s ; $ 7 7 9 ,0 0 0 f o r im p r o v e m e n t s , A c . , a t 8 5 % o f c o s t . T h o A u g u s t a
entire electric light and power business o f Portland and vicinity. Through W i n t h r o p A G a r d . R y . g e n . m t g o . 5 % b o n d s o f 1 9 0 5 a r o s u b j e c t t o c a l l a t
subsidiary companies operates street railway systems of Portland and South p a r o n a n y I n t. d a y o n 6 0 d a y s ’ n o t i c o . T h o A u g . V V lnth. A G a r d . R y .
Portland, with lines to Yarmouth, Capo Elizabeth, Saco, Old Or 1 s t M . 4 % b o n d s a r e e x c h a n g e a b l e f o r 4 % p r o f . Stock o f t h e s a m e c o . ,
chard. Westbrook. Gorham and South Windham. Also city and suburban w h ic h s t o c k h a s t h o s a m e s e c u r it y a s t h o b o n d s a n d m a t u r e s a t t h o s a m e t im e ,
lines of the Lowiston Augusta St Watervlllo St. Ry., from Wstervllle to $ 9 7 ,0 0 0 h a r e b e e n e x c h a n g e d . S u b j . t o c a l l a t 104 a n d in t . o n a n y I n t .
Augusta, Gardiner. Sahattus, Lewiston and Brunswick, thence to Bath d a t e . I t I* a c lo s e d m o r t g a g e . T h o A u g . I I . A G a r . g e n . M . 4 % b o n d s
and Yarmouth, at which point connection is made with the Portland RR.
a r o e x c h a n g e a b l e f o r 4 % pref. stock o f t h e s a m e c o . , h a v i n g t h e s a m e s e c u r
and the electric-light and power buslncas in Biddoford. Saco. Old Orchard. i t y a s t h e b o n d * a n d m a t u r in g a t t h e s a m e t lrn o . $ 1 9 4 ,5 0 0 h a v e b e e n e x
Kennebunkport, York Harbor, Alfred, Sanford, Springvalo, Freoport, c h a n g e d . C a ll a b l e a t 104 a n d I n t . o n a n y t n t . d a t o . S o r le s " C ” n o t e s a r e
s e c u r e d b y d e p o s i t o f $ 8 5 3 ,0 0 0 L . A . A W . 1st A r e f b o n d s at. 7 2 a n d a ro
Wostbrook, Gorham; also gas in Biddeford and Saco.
Franchises.— 1he franchises under which the companies operate ac g u a r . , p . A i . , b y t h o C u m b . C o u n t y P o w e r A L t . C o . T h o s e n o t e s w e r *
stated to be exceedingly liberal ana to havo no burdensome restrictions.
o r ig in a ll y 5 s a n d fe ll d u o J u n e I 1 9 1 8 b u t w e r e e x t e n d e d f o r 3 y e a r s a t 7 % .
Fares.— In July 1918 the P. U. Comm, refused to grant a 6-cont faro T h e L o w . B r u n s . A B a t h S t . R y . 1st 6s w e r e o r ig in a ll y 5s m a t u r in g M a r c h 1
fare within the old city limits o f Portland and an 8-cent fare to suburbs. 1 9 1 8 b u t w e r o e x t e n d e d t o 1 9 2 0 a t 6 % .
In the latter case the company was authorized to put into effect a 6-cont
All tho underlying mortgagee are closed mortgages.
faro and a rato of 2 cents per mile was fixed for riders to more remote
Dividends.— O n p r e f . i y $ % q u a r . f r o m A u g . 1 9 1 0 t o a n d I n c l. F e b . 1 9 1 8 .
places. V. 107, p. 501.
N o n o s in c e .
STOCK AN D BON D9 —
Date.
Interest. Outstanding. Maturity
E A R N I N G S .— F o r y e a r s e n d in g J u n o 3 0 :
Common $2,700,000 ($100)_ _____
_
Gross
Expenses Net (after Interest
Q-M
$2,696,800 Sept'17,1 % June 30
Balance,
Pref $2,300,000 ($100) 6 % /
Year—
Earnings. A Taxes. Taxes.)
Ac.
Q-F
2.300.000 M ay 18.1 H
Surplus.
cum red at 1 2 0 A accr div'
$ 7 3 6 ,7 1 4
$ 1 4 9 ,1 9 4
$ 2 0 2 ,2 3 5
1 9 1 7 - 1 8 ....................... $ 8 8 5 , 9 0 8
dof.$53,041
1 st & ref mtge $ 1 0 ,0 0 0 ,0 0 0
1912
5 M-S
2.918.000 Sept 1 1942 1 9 1 6 - 1 7 ...................... . 8 4 6 ,1 3 3
6 2 6 ,2 7 3
2 1 9 ,8 6 0
1 8 4 ,6 8 6
_____ __
35,174
gold ($1,000)..............c*tflEmpIre Tr. C o., N. Y ., Trustee
1 6 ,4 0 9 ,9 2 5 p a s s e n g e r s c a r r ie d in c a l e n d a r y e a r 1 9 1 7 , a g a in s t 1 5 ,2 6 3 ,9 6 7
Port El Co prof stk $500,0001___
Q-F
500,000
See text in 1 9 1 6 .
($100)6%cum(soe text)ntf\C. O. Bancroft, Portland, trustee.
R O A D . — O p e r a t e s a s y s t e m in a n d b e t w e e n W a t o r v l l l e , A u g u s t a , W in -,
Port Elec ColstM $1,500.000\ 1906
5 g F-A
1.279,000 Aug 1 1926 t h r o p , T o g u s , G a r d n e r , S a h a t t u s , L o w i s t o n , A u b u r n . T u r n e r . M e c h a n i c
g ($1,000) sink fd_ c* tffln t. at Portland Trust Co., Portland, Trus
_
F a lls , B r u n s w i c k , F r e e p o r t , Y a r m o u t h a n d B a t h . T o t a l t r a c k , 1 6 3 .9 5 9 m ile s ;
Portl Ltg A Pow first mtgel 1901
4H A-O
500.000 April 1 1921 105 p a s s e n g e r . 61 f r e ig h t a n d e x p r e s s c a r s . 11 s n o w p lo w s a n il 2 5 m W c. e a r * ;
$750,000(cl'sil) ($1,000)ctf ( Int. at American Trust C o.. Boston. Trustee
t o t a l, 202 ca rs .
H a s t w o s t e a m p la n t s w it h a n in s t a lle d c a p a c i t y o f 7 0 0 k .w .
Consol Kl Lt Co or Me 1st M l 1900 4 ^ g J-J
500.000 Jan 1 1925
O F F I O E R S . — P r e s ., W m . M . B r a d le y ; V . - P s . , I I . L . C l a r k , A . 11. F o r d
($500and $1.000) g o ld .c.tflin t, at Union S. D. & Tr. Co.. Portland Tru* a n d F r a n k S illim a n J r . ; T r e a s . A C l e r k , O . F . B e r r y . — V . 1 0 7 , p . 501 .
Consol Elec Lt Co of Mo deb( 1908
6 F-A 15 ,
10,000
Feb. 1919
(2 ) P o r t l a n d
R a i l r o a d . — T r o lle y .
$150,000 ($1,000)___ c*tf\lnt. at Fidelity Tr. C o., Portl., Trustee.
Lease.— L e a s e d f o r 9 9 y e a r s f r o m F o b . 1 1 9 1 2 t o t h e C u m b e r l a n d C o u n t y
York C ounty Power Co.
P o w . A L t . C o . , le a s e p r o v i d i n g f o r a ll I n t e r o s t a n d o t h e r c u r r e n t c iia r g e s
Agamenticus El Lt 1st M -C .tf 1910
5 g J-J
46.000 July 1 1930 a n d 5 % d i v s . o n c a p i t a l s t o c k .
Wells El L tA P 1st M e___ t f- 1910
5 g J-J
7,500 Jan l 1930
O R G A N I Z A T I O N . — I n c o r p . M a r c h 1 8 6 0 u n d o r la w s o f M a i n e .
AbKennobunk El Lt 1st M .c .n t f 1910
5 g J-J
63.000 July 1 1930 l o r b o d t h e p r o p e r t ie s o f t h o P o r t l a n d A C a n o E l i z a b e t h I t y . , C a p o S lio r o
York Lt S lit 1st Mtge gold! ____ 4>4 K A-O
c
1900
109.000 Oct 1 1920 R y . , C a p o E l i z a b e t h S t . R y . , P o r t l a n d A Y a r m o u t h E l e c . R y . a n d W e s t
(closed) ($500)...........c .n t fU Int. at Un. cl. D. S T . Co.. Portland, Trus.
c
b r o o k W in d h a m A N a p l e s .
Franchises c o n t a i n n o o b j o c t l o n a b l o r e s t r i c
do do 1st cons ref mtge 1907
5 A-O
375.000 April 1 1927 t io n s : m a n y a r e u n l i m i t e d a s t o t im e .
(closed) ($500 A $l,000)ctf Int. at Un. 8 . I). & T . Co Portland, Trus.
STOCK AN D BO N D S—
Date.
Interest. Outstanding. Maturity.
York Co Pow 1st A ref M $2, 1913
5 g J-D
368,500 Dec 1 1943 S t o c k $ 2 , 0 0 0 , 0 0 0 5 % m i ( 3 1 0 0 ) _____
5 F -A
$ 1 ,9 9 9 ,0 0 0
See te x t
500,000 ($500A$l,000)c*tf Int. at Portland, M o., and N. Y. City.
1st c o n s ( n o w 1st) $ 3 , 0 0 0 , 0 0 0 / 1 90 1
3 K « J -J
1 .6 0 0 ,0 0 0 J u l y I 1 95 1
Fidelity Tr. C o., Portland, M e., Trustee
( $ 1 ,0 0 0 A $ 5 0 0 ) g o t d _ _ c * t f \ I u t . a t P o r t l a n d T r , C o , P o r t l a n d , t r u s t e e .
York Co Pow pref stock c u m j ____
6 Q-J
383,000
Ouar
F ir s t lie n A c o n s $ 7 ,5 0 0 .0 0 0 1 1 9 1 5
5 8 M -N
1 ,9 5 0 .0 0 0 N o v 1 1 94 5
(guar by C C PA L ) ______1
g o l d ( $ 1 ,0 0 0 A $ 5 0 0 ) . c * t f l i n t , a t N e w Y o r k T r u s t C o . . t r u s t e e .
Stock.— Botii classes o f stock are listod on the Boston Stock Exchange
Bonds.— R e m a i n i n g $ 1 , 4 0 0 .0 0 0 f ir s t c o n s , ( n o w 1st) M . b o n d s a r e p le d g e d
V. 95, p. 1206. The company has the option at any time to redeem all or i s s e c u r it y f o r t h o f i r s t lio n A c o n s . M . 5 s . B o n d s c o n be called a t p a r a n d
part of the Portland Electric Co. pref. stock at 115 and accr’d div. on 15 In t. o n a n y in t . d a t e a f t e r J u l y 1 1 9 3 1 . V . 7 3 , p . 139: V . 9 1 . p . 8 7 1 . O f
days’ notice, and may at any time, with consent o f owner, red. prof, stock t h e r e m a in in g f ir s t Hen A c o n s . M . 5 % b o n d s , $ 1 , 6 0 0 ,0 0 0 a r o r e s e r v e d f o r
at less than 115. Pref. stock of tho Portland Elec. Co. falls due and is paya r e t ir e m e n t o f p r i o r lie n b o n d s , $ 1 9 7 ,0 0 0 a r o in t h e t r e a s u r y a n d $ 3 , 7 5 3 , 0 0 0
ble on Aug. 1 1926 at par and accrued dividends.
f o r e x t e n s i o n s , i m p t s . , A c . O u t s t a n d in g b o n d s a r e s e c u r e d b y d e p o s i t o f
Bonds.— Of the remaining first and refunding mortgage bond*. $3,000,000 $ 1 ,4 0 0 ,0 0 0 1 st c o n s , ( n o w 1st) M . 3 > £ s ; a r o c a l la b le a s a w h o lo o r iu p a r t
are reserved for prior liens, $10,000 are for Consolidated Electric Light 6 s, a t 1 0 5 o n a n y in t . d a t o .
>
$118,000 are held in treasury affd $3,954,000 aro for extensions, improve
Dividends.— T h e f o l l o w i n g d i v s . a r o o u old s t o c k p r io r t o le a s e .
ments, Ac., under certain restrictions. Callable as a whole on any in
Year.—
’95-’99. ’00. ’01. '02. ’03. ’04. ’05. ’06. ’07-’ II. Since.
terest date at 105 ar.d interost on 60 days’ notice. Bonds have a depre -’ e r c e n t __________ 6 %
5
6
3
3
3
3
4 y ’ l.v 5 y e a r l y
ciation and trust fund from July 1 1915 of 1% per annum of bonds out
R O A D . — O p e r a t e s 1 0 6 .6 m ile s o f t r a c k , c o m p r is i n g t h e e n t i r e s t r e e t
standing, but not less than $2 0 ,0 0 0 a year for purchase of bonds at not • a llw a y s y s t e m s o f P o r t l a n d a u d S o u t h P o r t l a n d , w it h s u b u r b a n lin e s t o
over 105 and int. or for replacements, extens. and add'ns. Int. payable ai 4 o u t h W i n d h a m . S a c o , W e s t b r o o k . C a p o E l i z a b e t h , G o r h a m . O ld O r c h a r d
A. B. Leach A Co., N. Y. V 95. p. 361. Portl. EL 1st mtge. bonds are m il Y a r m o u t h , w h o r e c o n n e c t i o n Is m a d e w it h t h e L e w is t o n A u g u s t a A
callable at 110 and accrued int. on 5 weeks' notice as follows: Noe. 1 to 125 on W a t e r v il l o S t . R y . 2 2 2 p a s s e n g e r , 1 8 o x p r e s s a n d 3 6 o t h o r s . T w o s t e a m
and after Aug. 1 1911; 126 to 250 on and after Aug. 1 1916 and 251 to 375
t o w e r p la n t s w it h 4 . 5 5 0 ft. w . c a p a c i t y .
on and after Aug. 1 1921. Sink, f . of 1% p. a. of bonds out began Aug. 1
E A R N I N G S .— F o r c a le n d a r y ea rs:
1911, inch any bonds purchased for or redeemed by sinking fund, $221,000 Calendar
Gross
Net (after
DeducDividends
Surplus
(not included in amount outstanding) in sinking fund. V. 90, p. 1243.
Year—
Earnings.
Taxes).
lions.
(5% ).
or Deficit.
Of the $2,500,000 York County Power bonds, $747,500 havo been cer 1 0 1 7 ......... ..................$ 1 , 1 8 5 , 5 9 8
$ 3 0 2 ,5 9 7
$ 2 3 4 ,3 1 7
$99,950 def$31,070
tified, and aro guaranteed by the Cumberland County Powor A Light 1 9 1 6 _______________ 1 .1 3 6 ,2 0 4
3 7 2 .2 2 8
2 6 2 ,1 4 7
____ _
99.950
10.131
C o., and of this amount $368,500 aro outstanding in tho hands of the
O F F I C E R S . — P r e s ., F r e d . N . D o w ; V . - P . , C h a r le s I I . P r e s c o t t ; C l e r k
public, $150,000 aro in the treasury of the Cumberland County Power A A _ T r e a s . . C h a s . F . B e r r y . — V . 1 0 4 , p . 2 0 1 1 , 2 2 3 6 ; V . 1 0 6 , p . 5 0 0 .
107
ELECTRIC RAILWAYS
Sau?T., 1918. J
ANDROSCOQOIN ELECTRIC CO.
O R G A N I Z A T I O N . — I n c o r p . In M a i n e O c t . 2 6 1 91 4 a n d p u r c h a s e d t h e
p r o p e r t ie s o f t h e L e w is t o n & A u b u r n E l e c . L t . C o . a n d t h e P o r t l a n d L e w is
to n ln te ru rb a n K it .
T h e i n t e r u r b a n r o a d is o n p r i v a t e r i g h t - o f - w a y fo r
2 8 m ile s a n d o n t h e h ig h w a y f o r 2 m il e s .
C h a r t o r s a n d fr a n c h is e s lib e r a l.
H a s f a v o r a b l e c o n t r a c t w it h c i t y o f A u b u r n f o r l ig h t i n g s t r e e t s a n d w a y s a n d
p u m p in g w a te r s u p p ly .
STOCK A N D B O N D S —
D a te.
In terest.
O utstanding.
M a tu rity
C o m m o n s t o c k $1 ,.5 0 0 ,0 0 0 ......................................................$ 1 ,5 0 0 , 0 0 0 ............................
P r e fe r r e d s t o c k $ 5 0 0 .0 0 0 .........................................................
5 0 0 ,0 0 0 ......................
1 st & r e fu n d m t g o $ 5 ,0 0 0 ,0 0 0 f 1 9 1 4
5 A -O
1 .9 4 0 .5 0 0 O c t
11934
( $ 1 ,0 0 0 a n d $ 5 0 0 ) g o l d _ _ t f j I n t . a t U n io n S a fe D e p . & T r u s t C o . , I’ o r t l
la n d , tru ste e .
L e w i s t o n & A u b u r n E l L t m t g o _____
5%
1 , 2 0 0 .0 0 0 _____________
Bonds. — $ 1 , 2 0 0 , 0 0 0 1st & r e f. M . 5 % b o n d s a r e r e s e r v e d t o r e t ir e th e
L e w i s t o n & A u b u r n b o n d s ; r e m a in d e r m a y b o is su e d f o r 8 0 % o f c o s t o f n ew
w o r k u n d e r c o n s e r v a t i v e r e s t r i c t io n s .
N o t s u b je c t t o c a ll,
v 1 02 . p . 0 0 7
E A R N I N G S . — F o r y o a r e n d i n g D e c . 31 1 9 1 7 , g r o s s , $ 5 2 5 ,4 4 4 ; n o t ,
$ 2 6 7 ,0 2 3 .
R a il w a y d e p t , o n l y , g r o s s , $ 1 6 5 ,6 5 6 ; n o t , a f t e r t a x e s , $ 5 1 ,3 0 6 .
P R O P E R '! ' Y .— O w it* d e v e l o p e d w a t e r p o w e r a t U o e r K ip s o n t h e A n
d r o s c o g g in R iv e r o f 5 .0 0 0 k . w . c a p a c it y , a n d o p o r a to s u n d e r lo n g a n d f a
v o r a b l e le a s e s t w o d e v e l o p e d w a t e r p o w o r s o n t h e L i t t le A n d r o s c o g g in R iv e r
o f 7 5 0 k . w . a n d 3 5 0 k . w ., r e s p e c t iv e ly .
A l s o o w n s a n d o p e r a t e s 3 0 m ile s
o f h ig h -s p e e d ln te ru rb a n ro a d c o n n e c t in g L e w is to n , A u b u r n a n d P o rtla n d
E n t e r s t h o s o c it i e s o v e r t r a c k s o f t h e lo c a l s t r e e t r a ilw a y c o m p a n i e s u n d e r
o p e r a tin g a g r e e m e n ts .
8 passen ger ca rs, 2 ba gg a ge a n d exp ress ca rs, 1
e le ctr ic lo c o m o t iv e a n d 8 fla t ca rs.
O F F I C E R S . — P r e s . , W illia m T . C o b b , R o c k l a n d . M e . — V . 1 0 2 . p . 6 0 7 .
P O R TLAN D , ORE.
P O R T L A N D R A IL W A Y , L IG H T & P O W E R C O .
O R G A N I Z A T I O N . — I n c o r p o r a t e d in O r e g o n J u n e 2 9 1 9 0 6 a n d h a s p u r
c h a s e d a ll t h e p r o p e r t y o f t h e P o r t l a n d R y . C o . , t h e O r e g o n W a t e r P o w e r A
Ity . C o . a n d P o r tla n d G e n . E le c . C o .
V . 8 6 , p . 1044.
O n M a rch 21
1912 a c q u ir e d th e M t . H o o d K y .& P o w e r C o .
V . 94. p .9 8 3 .
D i n i n g 1 91 2
s o l d t h e r a ilw a y p r o p e r t y in S a le m f o r $ 3 5 5 ,3 3 3 a n d t h e W i l l a m e t t e F a lls
R y . , 9 m ile s In l e n g t h , r o r $ 1 7 0 ,0 0 0 .
I n M a y 1 9 1 4 p u r c h a s e d t h e Y a m h ill
E l e c t r ic C o .
In J a n . 1914 a c q u i r e d a m a j o r i t y o f t h e $ 1 , 0 0 0 , 0 0 0 c o m . s t o c k
o f W i ll a m e t t e V a l. S o u t h e r n B y . , i n c o r p . in 191 1 t o c o n s t r u c t a r o a d fr o m
O r e g o n C i t y t o A n g e l C i t y , 3 2 m ile s .
L i n o w a s p l a c e d In o p e r a t i o n o n
J a n . 31 1 9 1 5 .
R e g u la r p a s s e n g e r s e r v ic e f r o m P o r t l a n d t o M t . A n g e l in
a u g u ra te d O c t . 23 1915.
W it h t h e e x c e p t i o n o f t w o I n t e r u r b a n lin e s t h e
c o m p a n y o p e r a t e s a ll t h e e l e c t r i c r a i lw a y s in P o r t l a n d a n d v i c i n i t y , i n c l u d
in g I n t e r u r b a n lin e s t o O r e g o n C i t y . T r o u t d a l o . C a z a d e r o a n d B u ll R u n ,
O r e . , a n d o v e r t h e n ew I n t e r -S t a t e b r i d g e t o V a n c o u v e r . W a s h
D oes m ost
o f t h e e l e c t r i c lig h t a n d p o w e r b u s in e s s o f P o r t l a n d a n d v i c i n i t y ; a l s o a ll o f
t h e e l e c t r i c lig h t a n d p o w e r b u s in e s s in S a le m , O r e g o n C i t y . S l l v e r t o n ,
W o o d b u r n a n d m a n y s m a lle r c o m m u n it i e s in O r e . a n d In V a n c o u v e r . W a s h . ,
a n d o p o r a t e s t h e g a s p la n t in S a le m .
P o w e r Is s o l d t o t h e t w o i n t e r u r b a n
lin e s a b o v e m e n t io n e d , t o t h e S o u t h e r n P a c i f ic , a n d a ls o t o t h o c o m p a n i e s
o p e r a t i n g t iie s t r e e t r a ilw a y s in S a le m a n d V a n c o u v e r .
T h o Y a m h ill E le c .
C o . s u p p lie s e l e c t r i c lig h t a n d p o w e r s e r v ic o t o N o w b c r g a n d o t h e r p o i n t s in
Y a m h il l C o u n t y .
R a il w a y fra n ch ises in P o r t l a n d e x p i r e in 1 9 3 2 a n d 1 9 3 3 .
L i g h t a n d p o w e r fra n ch ises in P o r t l a n d a n d S a io m a r e p e r p e t u a l ; in V a n
c o u v e r t h e y e x p ir e in 1 9 2 7 .
l i a s f r a n c h is e t o c a r r y f r e i g h t m O r e g o n C i t y ,
o x p ir in g in 1 9 2 6 .
in D e c . 1 9 1 6 o b t a i n e d a f r a n c h is e t o o p e r a t e o v e r t h o
n o w b r i d g e c o n n e c t i n g P o r t l a n d , O r e . , a n il V a n c o u v e r , W a s h .
O n e h a lf
t h o p r o f it s a r e t o g o t o C la r k a n d M u l t n o m a h c o u n t i e s , b y w h o m t iie b r i d g o
w as b u ilt.
T h o c o m p a n y ’s t r a n s m is s io n lin e s a n d a la r g o p a r t o f t h e
in t e r u r b a n r a i lw a y a r e o n p r i v a t o r ig h t o f w a y .
O il M a r c h 1 5 191U t h e O r e g o n .s u p r e m e O u u r t h a n d e d d o w n a d e c i s io n
w h ic h in e ffe c t, s u s t a in s t iie fra n ch ise c o v e r i n g p o r t io n s o f 4 0 s t r e e t s p a s s e d
b y C i t y C o u n c il A p r i l 2 8 1 9 0 9 o v e r t h e M a y o r 's v e t o .
See V . 9 0 . p.
O n F o b . 21 1 91 3 a fr a n c h is e c o v e r i n g a b o u t 2 2 m ile s o f s t r e e t s , in c lu d in g
th e p r o p o s e d “ 7 th S t. L in o ." w a s g r a n te d .
T i i e f r a n c h is e e x p ir e s in 1 93 2
a n d c o n t a i n s a p r o v i s io n t h a t a t t h a t t im e a p p r a is e r s m a y b o a p p o in t e d t o
a r r iv e a t t h e v a l u e o f t h o c o m p a n y 's e q u i p m e n t , w it h a v ie w t o t h e p u r c h a s e
o f t h e lin o s b y t h e c i t y .
V. 96, p . 654.
I n N o v . 1 9 1 2 t h e c o . b r o u g h t s u i t t o r e s t r a in t h e c i t y f r o m e n f o r c i n g t h e
“ s t r a p h a n g e r o r d i n a n c e " i l l m lt i n g t o 3 c t s . t h o f a r o c h a r g e d p a s s e n g e r s f o r
w h o m n o s e a t s a r e p r o v i d e d ) , a n d a ls o t h o 5 0 - c e n t m in im u m g a s a n d e l e c
t r ic r a t e o r d i n a n c e .
A t e m p o r a r y I n ju n c t io n a g a in s t t h o e n f o r c e m e n t o f
t h e f o r m e r w a s g r a n t e d In D o c . 1 9 1 2 . b u t a p p li c a t io n f o r a n i n j u n c t i o n t o s e t
a s id e t h o l a t t e r w a s d e n ie d b y J u d g e B e a n in t h o U . 8 . D is t . C o u r t o n N o v
2 5 , o n th e g r o u n d t h a t th o F ed era l C o u r t h a s n o ju r is d ic t io n
V. 95. p.
1542. 1274.
Favorable D ec is io n .— J u d g e H a r r is In t h o S u p r e m o C o u r t a t S a le m in A t a y
1 9 1 6 h e ld v o i d t h e o r d i n a n c e r e q u ir in g a t a x o f 3 % o n g r o s s o a r u in g s ( V . 9 6 ,
p . 1 1 5 7 ).
V . 102. p. 1718.
V a lu a tion .— T h e O r e g o n I’ . U . C o m m , o n A p r . 3 0 1 9 1 7 p l a c e d t h o v a l u a
t io n o f t iie c o m p a n y 's p r o p e r t y a s o f D e c . 31 1 91 6 f o r r a t e -m a k in g p u r p o s e s
a t $ 4 6 ,8 6 2 ,9 7 2 . o r a b o u t $ 1 4 ,0 0 0 ,0 0 0 less t h a n t h e c o . ’ s v a l u a t i o n .
See
V . 1 0 4 . p . 1 9 0 0 , a n d c o m p a r e V 1 0 3 . p . 61
W age In crea se .— I n O c t . 1 91 7 w a g e s o f c a r m e n w e r e in c r e a s e d t o t h e
f o ll o w i n g b a s is : F o r m e n in s e r v ic e less t h a n 1 y e a r , 3 8 c e n t s a n h o u r ; m o r e
t h a n 1 y e a r a n d less t h a n 2 y e a r s , 4 0 c e n t s a n h o u r ; m o r e t h a n 2 y e a r s 4 5
ce n ts an h o u r.
F o r all w o r k o v e r
h o u r s , t im e a n d a h a l f is p a id
C o m p a r e V . 1 0 4 , p . 1 8 0 ).
Fare In crea se .— In J a n . 1 9 1 8 t h e O r e g o n P . S . C o m m . a u t h . t h e c o . t o
in c r e a s e its fa r e s f r o m 5 t o 6 c e n t s , t ic k e t s t o b e s o ld 5 f o r 3 0 c e n t s a n d 5 0
fo r $2 7 5 .
T h i s s c h e d u le b e c a m e e f f e c t i v e J a n . 15 1 9 1 8 .
V . 1 0 6 . p . 190
C o m p a re V . 105, p . 1618.
O n J a n . 14 1 9 1 8 t h o C o m m , d o n ie il t h o c i t y ’s
p e t i t i o n t o h a v e t h o o r d e r s u s p e n d e d , o r Its o p e r a t i o n p o s t p o n e d p e n d in g
l it i g a t io n in t h e c o u r t s , b u t o r d e r e d t h a t r e c e ip t s lip s b o a t t a c h e d t o t ic k e t s
s o l d b y t h o c o m p a n y , w h ic h a r c t o b o r e d e e m e d f o r t h e a m o u n t o f e x c e s s
f a r o c h a r g e d in t h o e v e n t t h o c o u r t s d e c l a r e t h o o r d e r i n v a l id .
O n M a r . 14
1 9 1 8 t h o C i r c u i t C o u r t o f M u l t n o m a h C o u n t y , W a s h . , u p h e ld t h e r u lin g
o f t h o I’ . S . C o m m , in g r a n t i n g t h o 6 - c e n t fa r o .
T h o c i t y h a s a p p e a le d
t o th o O re g o n S u p re m o C o u r t.
Fates.
In A u g . 1 9 1 8 a p p li e d t o t h o O r e g o n P . S . C o m m , f o r a u t h . t o
in c r o a s o p o w e r r a t e s .
V . 107. p . 803 .
In J u n o 1 9 1 8 w a s a u t h . t o m a k e a d d it i o n s a n d i m p r o v e m e n t s t o it s w a t e r
p o w e r d e v e l o p m e n t s t o c o s t a p p r o x i m a t e l y $ 1 ,5 5 0 ,0 0 0 .
V . 106, p . 25 6 0 .
STOCK AN D BO N DS—
D ate.
O utstanding.
M a tu r ity .
J $ 1 5 ,0 0 0 .0 0 0 1
S e e tex t
C o m m o n $ 1 5 ,0 0 0 ,0 0 0 ( $ 1 0 0 ) .................
\ 7 5 % p a id J
5 . 0 0 0 . 0 0 0 ..................
1st p r o f $ 1 0 0 0 0 . 0 0 0 c u m ( $ 1 0 0 ) _____
5 . 0 0 0 . 0 0 0 __
2d p ro f
d o n o n - c u m ( $ 1 0 0 ) _____
P o r t l a n d R y L t & I’ o w 1st &
_____
_ „
1 6 .3 9 9 ,2 0 0
F o b 1 194 2
1912
r e f m t g o $ 7 5 ,0 0 0 ,0 0 0 g o l d ' I n t . a t F i d e l i t y T r . C o . , I’ h i l a .. T r u s . , L o e
(s e e t e x t -------------------c * & r * t f
H lg g in s o n & C o . , B o s . ; I f i g g i n s o n & C o . .
L o n d o n , E n g ., a n d C o lu m b ia T r . C o . ,N . Y
P o r t l a n d R y 1 st & r e fu n d i n g
1905
5 g M -N
7 .8 1 4 ,0 0 0
N o v 1 1 93 0
m o r t g a g e $ 1 0 ,0 0 0 ,0 0 0 g o l d ' I n t e r e s t a t o f f i c e o f R e d m o n d & C o . , N . Y . :
( $ 1 ,0 0 0 ) s in k f u n d ------- c * t f
N ow Y ork T ru st C o ., T ru stee.
C i t y & S u b c o n ( n o w 1 s t) M l _____
____
.
1900
4 g J -D
1_,290,000 J u n o _______
1 1930
( $ 1 ,0 0 0 ) g ( c l o s e d ) ------- c c p t l l n t . a t S e c u r . S a v . & T r . C o . . P o r t . , t r u s t e e
P o r tla n d G e n E l fir s t m t g o I 1905
5 g J -J
7 ,7 6 9 , 0 0 0 J u l y 1 1 93 5
(s o o t e x t ) g o l d ( $ 1 ,0 0 0 ) e * t f ) I n t . a t H a r r i s , F o r b e s & C o . , N e w Y o r k .
M t H o o d R y & I’ o w l s t m t g o f 1 90 7
5 g J -J
See te x t J a n
2 193 7
$ 6 , 0 0 0 , 0 0 0 g ( $ l ,0 0 0 ) s f c * n t f \ U n i o n T r u s t C o . , S a n F r a n c i s c o , T r u s t e e .
W ilia m V a il S o R y 1 st M n t f
1914
6 g F -A
7 5 0 .0 0 0 F e b
11939
$ 3 ,0 0 0 ,0 0 0 ($ 1 0 0 , $ 5 0 0 & { I n t. a t C o n t . & C o m . T r . & S . B k .. C h ic ..
$ 1 ,0 0 0 g u p i & s f c * n t f l
T r u s t . , o r in P o r t , o r 1 st N a t . B k . , N . Y
Stock .— T h u s t o c k h o l d e r s o n M a y 14 1 9 1 5 a p p r o v e d t h e p la n b y w h ic h
t h e y s u r r e n d e r e d 2 0 % o f t h o ir h o l d i n g s In t h e t h e n o x l s t l n g s t o c k ( $ 2 5 , 0 0 0 ,
0 0 0 , 7 5 % p a i d ) , p a y i n g a t t h e s a m e t i m e $ 2 5 in c a s h f o r e a c h s h a r e s o
s u r r e n d e r e d , a n d r e c e iv e d t h e r e fo r p r e f . s t o c k , s h a r e f o r s h a r e , o n e - h a l f
( $ 2 ,5 0 0 ,0 0 0 ) 0 % c u m . 1st p r e f . a n d t h e o t h e r h a l f 6 % n o n - c u m . 2 d p r e f .
T h o $ 5 , 0 0 0 , 0 0 0 s t o c k s u r r e n d e r e d In c o n n e c t i o n w it h t h e p la n w a s c a n
c e le d .
S t o c k h o l d e r s o f r e c o r d F o b . 1 1 91 7 w e r e g i v e n a n o p p o r t u n i t y t o
c o n v e r t a f u r t h e r $ 5 , 0 0 0 ,0 0 0 c o m m o n i n t o 1st a n il 2 d p r o f , s t o c k o n t h e
s a m e t e r m s , w h ic h w a s a c c o r d i n g l y d o n o .
T h e 1st p r e f . s t o c k Issu ed In
1 9 1 5 Is c u m u l a t i v e f r o m J a n . 1 1 9 1 6 ; t h a t I s s u e d In 1 91 7 Is c u m u l a t i v e f r o m
A p r . 1 1 9 1 7 a n d w ill r e c e iv e n o d l v s . u n t il a ll a c c u m u l a t io n s o n t h e f ir s t
$ 2 , 6 0 0 , 0 0 0 s h a ll h a v e b e e n p a i d ; t h e r e a f t e r a ll 1st p r e f . s t o c k w ill b o t r e a t e d
a l ik e .
V . 104. p . 1146.
(S e o a ls o V . 9 1 . p . 1 3 2 8 ; V . 9 5 , p . 1 2 7 4 .)
C om .
Is lis t e d o n t h e C o l u m b u s a n d L o u is v ille s t o c k e x c h a n g e s .
B o t h is su e s o f
p r e f. s to c k are p r e f. as to d lv s . a n d assets a n d r e d . a t p a r.
i B onds .— O f t h e r e m a in in g P o r t l a n d R y . . L t . & P o w e r u n is s u e d , $ 1 7 ,8 1 3 ,
0 0 0 a r e r e s e r v e d f o r p r io r lie n s a n d $ 4 0 ,0 3 6 ,0 0 0 a r e f o r a d d it i o n s . I m p r o v e
m e n t s , A c . D o n o m .: c o u p o n b o n d s , $ 1 ,0 0 0 , $ 5 0 0 a n d $ 1 0 0 : r e g , b o n d s ,
$ 1 , 0 0 0 . $ 5 , 0 0 0 , $ 1 0 ,0 0 0 a n d $ 5 0 ,0 0 0 .
P r i n c ip a l a n d i n t e r e s t a ls o p a y a b le? In
sterling, francs or guilders at fixed rates of exchange. Callable as a whole
at 105 and int. on or after Feb. 1 1922 on 60 days’ notice. Cumulative
sinking fund 1% annually 1915 to 1926 inch; 1H % 1927 to 1941 incl. on
total amount Issued. Bonds In sink, fund to be kept alive and Int. added
to fund. Convertible at any time at holders’ option into capital stock at a
price equal to the amount paid In on such stock, plus $10 premium per
$100 share. See V. 94, p. 631. Bonds are listed on New York Stock
Exchange; $87,000 are in treasury and $664,800 are held in sinking fund.
Portland Ry.. Light & Power notes were originally for 2 years. Out have
been renewed from time to time. They are red. at par and hit. on 60 days’
notice. Denom. $1,000. $5,000 and $10,000. Notes of $10,000 and $5,000
are exchangeable at holders’ option for notes of $1,000 denom. They are
secured by deposit of entire Issue of 1st M . bonds of M t. Hood Ry. & Power
Co. and the entire stock (except directors’ shares) o f the M t. Hood Co.
Tho Portland Ry. 1st & ref. M . has been closed at $8,523,000. A sinkino
fund began in 1907; the amount was $25,000 per aim. (payable Nov. 1)
from 1907 to 1909 incl.; $40,000 per ann. from 1910 to 1919 incl., and $60,
000 per ann. from 1920 to maturity of bonds; these payments are based on an
original amount outstanding of $5,982,000, Increasing proportionately as ad
ditional bonds were issued; said funds to be invested in the bonds at not mor«
than 105 and int.. at which price bonds can be called for the purpose. Bonds
are to be kept alive and bear interest. Red. at 105 and int. on any Int. dat*
upon 60 days’ notice. $709,000 are in sinking fund. See V. 81, p. 1437.
The bonds are listed on the New York, Louisville and Philadelphia stock
exchanges. V. 82, p. 806; V. 83, p. 1471.
Tiie authorized amount of Portland Genera 1 Electric Co. mortgage was
originally for $10,000,000. but mortgage has been closed at $8,000,000.
$231,000 retired by sinking fund. Bonds are subject to call as a whole at
107 'A and interest on 4 weeks’ notice. A sinking fund of 1% per annum
of bonds out commenced M ay 1 1915. Bankers Trust C o., New York,
trustee. They are listed on tho New York Stock Exchange. V. 92, p. 1437.
$5,000,000 of Mt. Hood Ry. & Power bonds are deposited as collateral
under Portland Ry.. Light tc Power notes. Sinking fuud began Jan. 1912.
1% to Jan. 1916 Incl.; 1 M% 1917 to 1921; 1 >4% 1922 to 1926; \*A%
1927 to 1931: 2% 1932 to 1938.
Willamette Valley Southern 1st M . bonds are unconditionally guaranteed
(as to principal. Interest and sinking fund) by Portland R y., Light & Power
Co. Remaining $2,250,000 issuable only under certain restrictions. Sink
ing fund of 1% of bonds outstanding 1917 to 1923: 1 14% 1924 to 1931.
and 2% 1932 to 1938. Company agrees to refund 1 % of Income tax.
Redeemable at 103 and Interest on any interest date on 60 days’ notice.
V. 98. p. 1001; V. 100, p. 57.
Dividends.—On old com. quar. dlv. of 1% paid from Sept. 1909 to Jan.
1910 Incl. Initial dlv.— $1—on new stock as adjusted per plan V. 91.
p. 1328, was paid Mar. I 1911; same amount quar. to and incl. Sept. 1912:
Dec. 1912. $1H . In 1913, Mar., June and Sept.. $l> i each. In Dec.
rate was reduced and $1 was paid (see V. 97; p. 1824). In 1914. March. $1.
June, $1. None since. No dividends have been paid on tho pref. stocks;
EARNINGS.— For years ending June 30:
June 30 Gross
Ex., Deprec.
Net
Interest.
Balance,
Year— Earnings.
& Taxes.
Earnings.
Ac.
Surplus.
1917-18-.$6,818,090 $1,181,568
$2,636,522
$2,155,699
$480,823
1916-17. . 5,664,193
3,070.129
2,594,064
2,173.776
420,288
88,610,120 passengers carried in calendar year 1917, 'against 78,605,246
in 1916.
ROAD.— Operates a total of 345.07 miles of single track (of which
297.0.7 miles owned, 35.00 miles controlled through stock ownership and
12 miles owned by outside Interests). Owns 633 passenger cars, 518
freight and miscellaneous cars and 10 locomotives. Water-power plants
have a capacity of 42,880 k.w.; steam plants, 22,000 k.w. capacity. Total
capacity 04,880 k.w. lias 389 miles of high tension and distribution lines.
Owns a 9-story fireproof building in business centre of Portland used for
its offices, the only park and amusement resort near Portland; also real
estate in Portland suitable for terminals.
OFFICERS.— Prim.. Franklin T. Griffith; V.-Ps., F. I. Fuller. Portland,
E. W. Claris and H. L. Clark, Phila.; Sec. and Asst. Treas., G. L. Estabrook, Phila.: Treas. * Asst. Sec., O. N. Huggins, Portland: Asst. Sec ,
and Aud., It. W. Shepherd; Asst. Sec. & Asst. Treas., Win. Lilley.— V. 106,
p. 190, 397. 1037, 1345, 1462, 1578. 1797, 2123, 2500; V. 107. p. SOS.
OREGON ELECTRIC RAILWAY.— An Interurban road.
Spokane Portland 4. Seattle Ry. owns entire common stock.
ORGANIZATION.— Incorporated In Oregon on May 14 1906. Ex
clusively an interurban road. Does no street railway business. Principally
on privato right of way. Has a contract for power (extending to 1938. with
privilege of renewal for 25 years) with Portland Railway. Light & Power Oo.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $5,000,000 ($100)------------------------- $1,950,000 ____________
Pref $5.000,000($100) 6% c u m ____
6 F-A
200.000 In 1914, 6%
- ...............
380.000 ___________
Deferred stock $400,000 ($ 1 0 0 )___
First mortgage $10,000,000/ 1908 5 g M -N
2.000.000 M ay 1 1933
($1,000) gold
.c*A rtfiInt. at Columbia Tr. Co.. N Y .. trustee
Bonds.—$8,000,000 remaining bonds reserved for permanent extensions
and improvements at 80% of cost. Bonds are subject to call as a whole
or In part at 107 and Interest on any interest day.
Dividends.—On pref. in 1911, 1912, 1913 and 1914. 6% . None since.
EARNINGS.— For cal. years:
Year—
Gross.
Net. aft. Tax. Oth. Inc. Interest. A c.
Deficit.
1917............ $1,025,963
$139,127
$3,745
$562,003
$419,132
1916_______
909,770
78.184
3,129
540,597
459.284
ROAD.— Operates Portland to Eugene, 122-31 miles; Garden Home to
Forest Grove, 19.45 miles; West Woodburn to Woodburn, 2.53 miles; Gray
to Corvallis, 5.20 miles; Orenco to Bowers Junction. 5.05 miles; trackage
rights. 1.72 miles; total length of line, 156.26 miles. Standard gauge,
70-lb. T rails.
OFFICERS.— Pres., L. O. Gilman; V.-P. A Comp., W. F. Turner; Sec.
4 Treas., W. G. Davidson; Asst. Sec., E. Pearson. Supt.. A. J. Davidson.
—V. 90. p. 1297: V. 92, p*323, 1311: V. 93. p. 1535: V. 95. p. 1274.
PORTLAND EUGENE & EASTERN RAILWAY.
In April 1915 was absorbed by the Southern Pacific C o.
way aud Industrial" Section.
See our "R ail
P O R T S M O U T H , O H IO .
PORTSMOUTH STREET RAILROAD & LIGHT CO.
ORGANIZATION.— Commenced operations In 1894- Leases Ohio
Valley Tractlou Co.
Does the electric light and power business In Portsmouth and New Boston.
Including tho city lighting. The street railroad serves Portsmouth, New
Boston and Sclotoville. Own* an amusement park. Franchises extend
beyond 1935.
In Dec. 1914 issued $500,000 bonds to extend the railway lines from
Portsmouth, O., to Ironton. O.. 22 miles, for linpts., A c., and for the re
demption of the $50,000 bond* called for payment Jan. 1 1915 at 102. The
extension to Ironton O., 1* being built by a subsidiary, the Ohio Valley Trac
tion C o., all of whose Mcurltle* will be pledged as part security for the new
bond Issue, and who** property will be oper. under lease extending to 19JC
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity
Stock common $500,000------- --------------------$ 2 5 0 ,0 0 0
__________
Pruferroil $250,000 (6% c u m ) . ------------------250,000 __________
First mtgo bonds $500,000/ 1914
6 g J-J
475.(00
Pretext
($ 1 ,000&$5()0)redl0214 _c*l Int. at Guaranty Tr. Co. N. Y ., Trustee.
Bonds.— Are due*erl*lly $26,000 each July 1 from 1918 to 1934, both Incl.,
and $75,000 July 1 1935. V. 09. p. 1748.
EARNINGS.—-For cal. year 1917, gross, $439,543; net, after taxes,
$163,052; In 1916, gross, $312,430; net, after taxes. $145,609.
ROAD.— Owns and operate* 14H miles of track, incl. 2!4 miles leased,
26 cars. 70-lb. T rail.
OFFICERS.— Prea.. L. D. York: Sec. and Treas.. H. H Higgins.—
V. 98. p. 1317; V. 99, p. 1529, 1748, 1833: V. 100. p. 142; V. 103. p. 1793.
P O T T S V IL L E , PA.
EASTERN PENNSYLVANIA RVS. CO.
’
ORGANIZATION.— Incorporated in Pennsylvania In 1891 as the Tamaqua & Lansford Street Ity.. and name changed in 1906. Controls the
following properties In Schuylkill County and vicinity and the lower an
thracite coal field.
P o t t s v t U o U n io n T r a c t i o n C o .
P o t t s v l l l o & R e a d in g R a il w a y C o .
S c h u y l . H a v .A O r w l g s b u r g S t . R y . C o .
S c h u y lk i l l E l e c t r ic R a il w a y C o .
C o a l C a s t l e E l o c t r lc R a i l w a y C o .
T h e P o r t C a r b o n & M ld d le p o r t E l.R y .
P o t t s v i ll e & S t . C l a i r E l e c . R y . C o .
T a m a q u a & P o t t s v i l l e E l e c t r ic R R .
E a s t e r n P e n n a . L t . . H t . fc l ’ o w . C o .
T h o T u m b l i n g R u n P a r k A s s o c i a t io n
108
ELECTRIC RAILWAYS
M ost o f thoso companies are without bonded debt, but where bonds have
been issued they have been provided for or deposited under the consolidated
company’s now mortgage, togother with all, or practically all, their stocks.
V. 82, p. 1437. Franchises are practically perpetual.
In April 1914 tho Penna. P. S. Comm, denied the application of the
Schuylkill Light, Heat & Pow. Co. for permission to carry on a competitive
electric-lighting business in the Borough o f Ashland, now served by the
subsidiary lighting co. of this co., the Eastern Pennsylvania Lt., Ht. &
Power Co. S e e V. 98, p. 1392.
The l ’ottsville & St. Clair Electric R y ., incorp. In Oct. 1915 with $13,200
capital stock,was organized In the interest of the company to construct thp
line from Pottsville to St. Clair (placed In operation Aug. 11 1916). It has
outstanding 8150,000 (auth. ainount 8350,000) 1st M . 6% gold bonds dated
June 1 1916 and due June 1 1946; lnt. payable J. & D. at fiscal agent,
Pottsville, Pa.; subj. to call at par and mt. Trustee, Real Estate Trust
C o.. Philadelphia.
Fare Increases.-—In April 1918 announced an increase in fares to 7 cents.
The Schuylkill Electric Ry. announced an increase In the zone rate from
7 to 8 cents, effective July 10 1918. V. 106, p. 2561.
STOCK AND BONDS—
Date.
'I n t e r e s t . O u t s t a n d i n g .
'
M a tu rity .
Common. $5,000,000 (8100).............
................. $4,000,000
______
Pref, $1,000,000 ($100) 5 % c______
________
946.820
See text
First mortgage, $6,000,000, g 1906
5
g J-J
4.446.500 July
($500 and $1,000)___ c*tf
Central Trust C o.. New York. Trustee.
Pottsville Union Trac. 1st M . 1899 6 g M-S
40.000
.........
gold $1,000.000................... Int. at Real Estate Trust Co., Phlla., Trus.
Pottsv. & Read, first mtge, g 1895 6 g F-A
99,000 Fob. 1 1927
$100,000 ($1,000)______c* Int. at Real Estate Tr. Co.. Phlla.; Trustee
Schuyl El Ry 1st M $500,000, 1895 6 e F-A
295,000 Feb. 1 1925
($500 and $1,000) gold.c*tf Int. at Real Estate Tr. <Eo., Phlla.. Trustee
Ed Elec Ilium Co of Ashland, 1908 5 A-O
11,000 Son text
Pa. bonds $15,000 ($500)_.tint, at Ashland, Pa.; Schuylkill Tr. Co., Tr.
_ .
_______
B o n d s . — Sufficient 1st M . bonds of 1906 are reserved to retiro $445,000
prior liens; the unissued portion Is reservod for future extensions and im
provements; $333,500 have been canceled. Registered bonds are re-con
vertible into coupon bonds. Are subject to call at 110 and lnt. on 4 weeks'
notice. Int. payabio in N . Y . See description o f bonds and property.
V. 89. p. 103; V. 94, p. 279. $4,000 o f Ed. Elec. Ilium. Co. bds. in s i n k ,
fu n d .
Bonds are duo any int. date at company’s option.
D i v i d e n d s . — Dlvs., 2>$%, on pref. M ch. 1907: none since.
E A R N IN G S.— For years ending D ec.31'
Y ea r en d .
G ross
E xp en ses
N et
Deductions. Balance,
D e c . 31.
E a rn s.
A T a xes.
E a rn s.
(.All Cos.)
Surplus.
$680,593
$314,590
1917-............. $995,183
$44,755
$269,835
1916-------------- 923.831
591.466
332,365
240,538
91,827
494.017
351,210
1915------------- 845,227
229,399
121,811
L a t e s t E a r n i n g s . — Year ending June 30 1918:
1917-18------$1,075,934
$761,848
$314,086
________
_______
$275,448
$38,638
liO A D .— Operates 61.59 miles of track, connecting Pottsville with Yorkville, Mlnersvllo, Palo Alto, Belmont, Cumbola, Mount Carbon, Port
Carbon, Saint Clair, New Philadelphia, Middleport, Schuylkill Haven,
Adamsdale, Orwigsburg, Coal Castle. Glen Carbon, Tumbling Run, Brock
ton, Tuscarora, Tamaqua, Lansford, Summit Hill, Nesquohoning and
Mauch Chunk.
OFFICERS.— Pres., J. H. Pardee; V .-P.s., R . Walter Leigh and Joseph
K. Choate; Sec. & Treas., T . W . M offat, all of N. Y .; Asst. Sec. & Asst.
Treas., L. A. Reinhardt; Gen. M gr., Leonard S. Cairns, Pottsville, Pa.;
Gen. Mgrs., J. G. White M gt. Corp., N. Y.— V. 97, p. 1024; Y. 98. p. 1701;
V. 103, p. 1118; V. 104, p. 256; VT 105, p. 1522; V. 106, p. 1796.
|Vol . 107
Notes.—-The 3-year notes are redeemable on 60 days’ notice on any
Interest day on or before July 1 1918 at 101 and int.; thereafter at any time
on like notice at 100H & lnt. Additional notes may bo issued only when
net earnings, after deducting annual bond int., are 3 times tho annual
interest charge on all notes out and those to be Issued. V. 102, p. 152.
The 2-year notes are secured by pledge o f 1st and Ref. M . bonds (not Incl.
in amount reported outstanding) at the rate of 133 1-3% of .the par value
of notes outstanding. Additional notes may be issued wh£n secured by
1st & Ref. M . bonds in a like ratio, but only under certain restrictions.
Red. all or in part on 30 days’ notice at 101 and int. on or before Dec. 1
1918, at 100H and int. thereafter to and incl. Dec. 1 1919 and at 100 and
int. thereafter. Tax refundable in Pennsylvania. V. 106. p. 2449.
Dividends.— On pref., 1 ^ % quar. from June 1912 to Sept. 1918.
EARNINGS.— For years ending Dec. 31:
Calendar
Gross
Net, after Int. Charges,
DMBalance,
Year—
Earns.
Taxes.
Ac. (Net).
dends.
Surplus.
1917...........$1,428,467
$645,222
$373,033
$201,578
$70,611
1916 - - - - - 1.260.2S7 ,
564,762
345,699
155.975
63,088
ROAD.— Owns 35 miles of track, all In city o f Pueblo. Gauge, 4 ft.
65. 72 and 75-lb. rail. 50 cars, o f which 42 are motors. Has a hydro
electric power plant at Skaguay, on Beaver Creek, near Victor; steam-elec
tric power houses in Canon City and Pueblo, and reserve stations at La
1 1936 and Rocky Ford; combined capacity, 26,165 h.p. Has 297 miles of
Junta
transmission and 312 miles distributing pole lines.
OFFICERS.— Pres., G. II. Harries; V.-P. & M gr., W. F. Raber; Treas.,
R. J. Graf; Sec., Herbert List; Gen. Mgrs., II. M. Byllesby & C o.. Inc..
Chicago, 111.— V. 105, p. 1521; V. 106, p. 924, 1576, 2449.
R A L E IG H , N . C.
CAROLINA POWER & LIGHT CO.
Electric Bond & Share Co. acts as fiscal agents for the company.
ORGANIZATION, &C.— Incorp. in North Carolina Feb. 19 1908. Suc
cessor to the Raleigh Street Ry. (chartered 1881, road opened 1886), Raleigh
Electric C o., Central Carolina Power Co. and Consumers’ Light & Power
Co. On Nov. 1 1910 acquired Durham Light & Power Co., on May 1 1911
the Henderson Ltg. & Pow. C o., and on Aug. 1 1911 the Standard Gas &
Elec. C o., which companies have been merged Into the Carolina Power S
c
Light Co. On Nov. 1 1911 leased the Oxford Elec. Co. On July 1 1912
acquired the Goldsboro lighting property (municipal plant). Also owns
the entire common stock, except directors’ shares, of the Yadkin River
Bower Co. (which controls the Carolina Gas & Elec. Co.) and the Asheville
Power & Light Co. (acquired in March 1912).
Operates entire street railway, gas and electric light and power service in
Raleigh, gas service In Durham, light and power service In Heuderson,
Oxford, Sanford, Jonesboro and Goldsboro, and light aud power service
for manufacturing purposes in Fayetteville, Cumberland. Smlthfleld,
Selma. Frankllnton, Roxboro and Pine Level. The company also supplies,
under contract, the entire requirements of the municipal electric light and
power systems In Fayottovillo, Smlthfleld, Selma, Wake Forestand Clayton,
and of the privately owned electric light and power systems in Frankllnton,
Roxboro and Pino Level.
Franchises.— Electric and gas lighting franchises In Raleigh are perpetual,
and that for the railway extends to 1945. The Durham gas franchise ex
tends to 1950. In Henderson, Oxford. Sanford and Jonesboro the franchises
extend to 1971, 1971, 1942 and 2003, respectively; In Goldsboro, Smithfield and Pine Level to 1972, and In Fayetteville franchise is perpetual.
On March 31 1911 Increased authorized common stock from $2,500,000
to $5,000,000, and authorized preferred from $1,250,000 to $2,500,000.
Fare Increase.— In July 1918 was authorized by tho North Carolina Corp.
Comm, to Increase fares in Raleigh from 5 to 7 cents. V. 107, p. 500.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
POUGHKEEPSIE & W APPINOERS FALLS RY.
ORGAN IZATION .— Chartered March 22 1894 as the Poughkeepsie Stock com $5,000,000 ($100)............................... $4,787,500 Nov 18,H %
Q-J
1.861.300 Oct ’ 18, I H
City & Wapplngers Falls Electric Ry. Name changed to above June 1917. Pref $2,500.000 7% cum ($ 100)____
5 g F-A
3,182,000 Aux 1 1938
Tho P. S. Comm, has auth. the co. to make a new mtge. to the Equitable First mortgage gold $5,000.-/ 1908
000
($500 & $l,0 00)-_c*.tf (Guaranty Tr. C o., N. Y .,trus. Int. In N .Y .
Trust Co. o f N. Y ., securing an issue o f $5,000,000 5% 1st M . sink, fund
Stock.— Of the amount o f preferred stock outstanding, $1,794,800 is
gold bonds, and to issue $596,000 thereof to take up tho existing bonds.
in the hands of tho public.
F a r e I n c r e a s e . — In June 1918 was authorized by the New York P. S.
Bonds.— $500,000 aro for exchange, bond for bond, for bonds of other
Comm, to charge a 6 cent faro, with the understanding, however, that no
and remainder
dividends are to be paid until the road and equipment are brought to a companies, under certain restrictions, earnings for 12 for Impts.. extensions,
&c., at 80% o f cost of same when net
mos. are twice interest
state o f efficiency. V. 106, p. 2758.
on bonds out and to be issued. Red. as a. whole or In part for sinking fund
STOCK AND BONDS— D a t e .
In ter es t.
O u tsta n d in g .
M a tu rity
on any int. date upon 3 weeks’ notice at 105 & int. Sinking fund 1% an
Stock, $1,000,000 (par $ 1 0 0 ) ...........
...............
$750,000 ..................
nually of bonds out from Aug. 1 1913 to Aug. 1 1922, incl.; thereafter l U % .
First mtge, gold ($1,000) s fl 1894
5 g J-J
339,000 July 1 1924 $131,500 have been retired through operation of sinking fund. See V. 90,
no potion $500,000----- c*lCent. Tr. Co., N .Y ., Trustee. Iut.in N .Y .C .
p. 1361.
8 econd mortgage. $250,000/ 1907
6 g J-J
250.000 July 11937
Dividends.— On pref., 1H % quar. from July 1 1909 to Dec. 31 1910, incl.
($1,000), gold-------------- c*|Int. at Poughkeep. Tr. Co., Pough., Trustoe. In April 1911 and quar. sinco, lfd % . Initial div. on com.—
of 1% —
Bonds.— 1st mtg. bonds are limited to $25,000 per mile of completed trol paid Fob. 1917; same rate quarterly since.
ley road, $ 1 0 ,0 0 0 o f this being Issuable when track Is laid and remaining
E ARN ING 3.— For 12 mos. ending Dec. 31:
$15,000 when equipped with trolley.
Sinking fund began Jan. 1 1897,
Gross
Net (after
Other
Bond
Other
B a la n ce,
equal to 1 % o f the bonds issued hereunder” ; bonds purchased at not ex
Year— Burnings.
Taxes.)
Income.
Interest. Int., Ac. S u rp lu s.
ceeding 110. $77,000 not reported outstanding are held in sk. fd 2 d 1917 .......... $915,401 $333,284 $138,443 $161,426 $14,185
$296,116
mtge. bonds are subject to call on any lnt. day at par,
1916 .......... 786,916 279.953
102,814
150,368 28,319
204,080
RO A D .— Owns 15.14 miles o f road, leases 1.5; second track, 1.14 miles;
2,411,319 passengers carried in 1917, against 2,212,162 In 1916.
sidings. .7 7 miles: total, 18 55 milas of track. 27 cars.
ROAD.— Owns 13.6 miles of road; gauge, 4 ft. 8 In. 60-70-lb. T rails,
EARNINGS.— For calendar year 1917 and years ending June 30:
10 open motor cars, 11 open trailers, 13 closed motor cars and 1 mlscell.
P erio d —
G ross.
N e t, A f t . ta x es. I n t . , A c .
S u r p lu s .
5 power stations and 9 sub-stations: 215 miles transmission lines.
Calendar year 1 9 1 7 ----— $207,068
$33,471
$39,442
def.$6,971
OFFICERS.— Pres., Chas. E. Johnson, Ralolgh; V .-P.’s, II. H. Carr
Year end. June 30 1917--- 208,326
40,028
35,729
4,299 Wm. Darbeo and D. F. McGee: Sec. & Treas., E. P. Summorson, N. Y .:
Year end. Juno 30 1916--- 197,952
55.189
29,754
25,434 Asst. Sec. & Asst. Treas., L. W. Osborne. N. Y.— V. 103. p. 2237: V. 104,
OFFICERS.— Pres., Mrs. J. W. Hinkloy; V.-P., Mary Hinkloy; Sec. & p. 1488; V. 105, p. 180, 1312; V. 106, p. 818, 2122; V. 107, p. 500.
Treas., T . W. M offat; Asst. Sec. & Asst. Treas., II. B. Brown; M gr., C. A.
(1) Asheville Power & Light Co.
Brooks: Aud.. J. A. Nilan. Under management o f J. G. White Mgt.
ORGANIZATION.— Incorp. on March 25 1912 In North Carolina as
Corp.— V. 85, p. 795; V. 104, p. 1388, 1801, 2642; V. 106, p. 2758.
successor to the Ashevillo Electric Co. All the common stock, except
directors shares. Is owned by Carolina Power & Light Co. Does entire
commercial and municipal electric light, gas and street railway business
of Ashevillo. and its suburbs. All franchises, excopt for 1 miles of street
(THE) ARKANSAS VALLEY RAILW AY, LIGH T & POWER CO.
railway expiring In 1952, are perpetual.
Standard Gas & Electric Co. owns $405,000 preferred, $3,499,400 of the
Has favorable contract to April 1 1928 with the North Carolina Electrical
common and $3,665,000 first and refunding bonds.
Power Co. for power.
O R GAN IZATION .— Incorp. In Colorado on N ov. 14 1911. Has taken
Fares.— In June 1918 announced the elimination of the sale of 6 tickets
over tho following companies (V. 93, p. 1460):
for 25 cents and the establishment of a straight 5-cent faro.
Colo. Lt. & Pow. Co. of Canon City La Junta Electric Co.
STOCK AND BONDS— Date.
Interest. Outstanding■ Maturity.
Gold Belt Consol. Electric Co.
(Pueblo & Sub. Trac. & Lighting Co.
Common $1,000,000 ($100).................................
$1,000,000 See "earns.
La Bella Mill, Water & Power Co. (Rocky Ford Electric Co.
Prof $1,000,000($100)7% cum..............................
639.700 O c t ’18. 1 «
The La Bolla Mill, Water & Power Co. Is controlled through stock
First mortgage $5,000,000 g / 1912
5 g A-O
1,220,000 Apr 1 1942
ownership only.
($1.000).......................c*.tf\Int atU . S .M tgo. ft T r .C o .. N Y .. trustee.
Controls all the street railway and electric lighting and power Interests In
Stock.— All the common stock, except directors’ shares. Is held by tho
Pueblo, with a largo lighting and power business In the Cripple Creek dis
Power & Light Co. Of
trict. Railway f r a n c h i s e s expire In 1940 in Pueblo and 1953 in Pueblo Carolina Is in the hands of public. the amount of pref. stock outstanding.
$539,700
County and electric light f r a n c h i s e s in 1936.
Bonds.— Remaining bonds are Issuable at 80% of cost of permanent im
In Juno 1918 Issued $350,000 2-year notes to reimburse tho company for
provements or additions when net earnings aro twice interest charges on
expenditures Incurred for additions and Improvements. V. 106, p. 2449.
bonds out and to be Issued. Subject to call as a wholo or in part for sinking
STOCK AND BONDS— D a t e .
In ter es t.
O u tsta n d in g .
M a tu ritg .
fund at 105 & int. on any int. day. Sinking fund, H % on April 1 1917
_______
$3,500,000 See Earns
Common $6,000,000 ($100)_______
to 1922, Incl.; 1% 1923 to 1927; 1>*% 1928 to 1932; 2% 1933 to 1941.
Pref $4,000,000($100) 7% c u m ____
Q-M 15
1.189,100 Sept. l 8 .1 «
See V. 94, p. 1316.
First & ref mtge $10,000,000/ 1911
5 g M -N
3,665,000 Nov 1 1931
Dividends.— 1 % % quar. has been paid on pref. stock since April 1912.
g ($1,000) sinking fu nd-.c* Int.atCont.&Com.Tr.& S. Bk., Chic., trust.
EARNINGS.— For 12 mos. ending Dec. 31:
Pueblo Traction & Lighting 1901
5 g J-J
980,000 Jan 1 1921
Gross
Net, after
Interest
Balance,
first mortgage (closed) gold Interest at International Trust Co., Denver,
Year—
Earnings.
Taxes.
(Net.)
Surplus.
($ 1.00 0)...........................c*
trustee, or at Guaranty Trust C o., N. Y. 1917.......................... $501,725
$219,481
$58,944
$160,537
Pueblo & Suburban 1st m ort-[ 1902
5 g A-O
1,797.000 Oct 1 1922 1 9 1 6 -.-.........- ......... 461,749
191,974
55,401
136,573
gage (closed) ($1,000)___ g Interest at International Trust Co., Denver,
5,566,567 passengers carried in 1917, against 5,165,627 In 1916.
sinking fu n d .................. c*
trustee, or at Guaranty Trust C o., N. Y.
ROAD.— Operates 19.2 miles of railway.
Gold notes $1,500,000 ($100, 1916
6 g J-J
450.000 July 1 1919
OFFICERS.— Pres., Chas. E. Johnson; V.-P. & Gen. M gr., H. W .
$500, $1,000).............. c*tf Cont. & Comm. Tr. & Sav. Bk., Chic., trus.
Plummer; Sec. & Treas., E. P. Summorson.— V. 95, p. 110; V. 106, p. 818.
Secured notes, $1,500,000 1918
7 g J-D
350.000 Dec 1 1920
(2) Yadkin River Power Co.
($100, $500 & $l,000)gc*.tf (Conti. & Coml Tr & Sv Bk, Chicago, trustee.
Is controlled by Carolina Powor & Light Co.
Stock.— Pref. stock is red. at 110 on 60 days’ notice. In Oct. 1917 Issued
an additional block o f $450,000 for extensions and additions. $185,900,
ORGANIZATION.— Incoro. on March 20 1911 In North Carolina as
in treasury.
successor to the Rockingham Powor Co., sold at foreclosure. V. 93, p. 173.
Bonds.— Of tho remaining first ana ref. bonds, $603,000 are In treasury Owns and operates hydro-electric plant on tho Yadkin River, lighting and
$2,777,000 are roserved for prior.liens and $2,658,000 for extensions; $287, power systems in Rockingham, Hamlet and Wadesboro, N. O., and Choraw,
000 have been redeemed. Subject to call at 105 and lnt. on any int. day. S. C.i and olectric power service In Lumborton and LHosville, N. O.; also
Annual slnk’ ng fund began Nov. 1 1913, 1% bonds certified 1913 to 1915, supplies, under contract, tho entire requirements of the prlvatoly-owned
1916 to 1930, 2% . Entire issue o f the Pueblo & Suburban 1st M. bonds 1* light and power systems in Maxton and Laurinburg. N. O.. and of tho
subject to call at 104 & int. A sinking fund began in 1909, which must municipal lighting systems of Lllesvllle and Lumborton. Nono of the
retire at least $50,000 bonds per annum, said fund to be Invested in the franchises expire prior to 1971. In July 1917 acquired control of Carolina
bonds In open market at not higher than 104; otherwise bonds can be called Gas & Electric Co., which supplies electric light .and power to Florence,
for the purpose. V. 76. p. 1355. $507,000 have been canceled. Entire Darlington, Marion, Mullins, Summerville and Timmonsvlllo, S. O.; water
issue of Pueblo Trac. & Ltg. 1st M . bonds may be called at 104 & lnt. A in Darlington and Marion, and ice in Florence, Marion, Summorville,
sinking fund of $10,000 annually on these bonds began In 1906, and may be Darlington and Tlmmonsville.
used to call bonds after Jan. 1906 at 104 & int. See V. 72, p. 821. $120,
In June 1915 authorized capital stock was Increased from $4,000,000 to
000 have been canceled.
$5,000,000.
POUGHKEEPSIE, N. Y.
PUEBLO, COL. .
S ept ., 1918.)
ELECTRIC RAILWAYS
STOCK AN D BON DS—•
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
_________
$ 3 ,8 3 5 ,0 0 0
C o m m o n S 4 .0 0 0 .0 0 0 ( $ 1 0 0 ) . . _____
P r o f S I , 0 0 0 .0 0 0 ( 8 1 0 0 ) 7 % c u m . ------Q -J
8 2 2 ,5 0 0 O c t ’ 1 8 I X
F ir s t m t s o $ 1 5 ,0 0 0 ,0 0 0 g o l d / 1 9 1 1
5 g A -O
3 ,5 0 0 ,0 0 0
A p r 1 194 1
( 8 1 ,0 0 0 & 8 5 .0 0 0 ) c * A r . t f l i n t , a t O ld C o l o n y T r . C o . , B o s t o n , t r u s t e e .
B o n d s . — $ 2 1 4 ,0 0 0 n o t i n c lu d e d In a m o u n t r e p o r t e d o u t s t a n d i n g a r e in
t r e a s u r y ; r e m a in in g b o n d s a r e r e s e r v e d f o r e x t e n s i o n s , & c .
B on ds have
i m p t . f u n d o f M % o f b o n d s o u t f r o m A u g . 1 1 9 1 6 t o 1 9 2 0 , i n c l . , 1 % 192 1 t o
1 9 2 5 . 1 Vi % 1 9 2 0 t o 1 9 3 0 , a n d 2 % 193 1 t o 1 9 4 0 , i n c l.
S u b je c t t o c a ll as
a w h o l e o n a n y i n t . d a t e o r in p a r t f o r i m p r o v e m e n t f u n d a t 1 0 5 a n d i n t .
o n 4 w e e k s n o t ic e , a ll b o n d s th u s a c q u ir e d t o b o c a n c e le d .
D iv id e n d s o n p re fe rre d s to ck , w e re b e g u n J u ly 1 91 6.
_ P R O P E R T Y . - I I a . s g e n e r a t in g c a p a c i t y o f 2 4 , 0 0 0 k . w . , a ll h y d r o - e l e c .
1 8 4 m ile s o f t r a n s m is s io n lin o s a n d 5 9 m ile s d i s t r i b u t i n g lin e s
E A R N I N G S . — F o r 12 m o n t h s e n d in g D o c . 3 1 :
Y ea r—
G ross.
N e t (a fte r t a x e s ).
I n t.(N e t).
B a L .S u r .
1 9 1 7 --------------------------- $ 5 0 1 ,0 1 0
$ 3 5 8 ,5 7 3
$ 1 7 6 ,9 1 5
$181658
4 2 7 ,0 0 8
3 1 4 ,4 3 7
2 1 0 ;il3 7
104 30 0
1 9 1 6 - - . - - .............. ..
O F F I C E R S .— P r e s .. 6 h a s . E . J o h n s o n ; S e c . & T r e a s ., E . P . S u m m e r s o n .
— V . 100, p . 2173; V . 103, p . 2245; V . 106, p . 818 .
ou m m erson .
READING, PENN.
EASTERN POWER & LIGHT CORPORATION .
O R G A N I Z A T I O N . — O r g a n iz e d in V i r g i n ia M a r c h 12 1 9 1 3 t o a c q u i r e ,
I m p r o v e a n d d e v e l o p s t r e e t a n d i n t o r u r b a n r a i lw a y s a n d o t h e r p u b l i c u t i ll tIn.!'TT 7P r i )p,Mr " - ' V a r0 £ w n r ’ ,in . y ° 7 n, ? n t ; N o w H a m p s h i r e , P e n n s y lv a n ia ,
a ? d , ,esb ^ l r g in ia .
C o n t r o l s t h e f o l l o w i n g c o m p a n i e s t h r o u g h o w n e r s h ip
o f t h e ir s e c u r it i e s a s s h o w n :
R e a d i n g ( P a . ) T r a n s i t & L i g h t C o _____________
Bonds.
S(ocfc.
W e s t V ir g in ia T r a c t i o n & E l e c t r ic C o .........
................................
i 250 000
C l a r e m o n t ( N . H . ) R a i l w a y & L i g h t i n g C o .................
' 15 0 ~ 6 6 6
’ l 144,300
jjjjO O
150.000
C l a r e m o n t ( N . I I . ) P o w e r C o _________________
a700,000
200.000
C o l o n i a l P o w e r & L ig h t C o . ( V t . ) _________ I
283,000
260,500
C l a r e d o n ( V t . ) P o w e r C o ______________________
280,100
E a s t e r n U t ilit ie s C o a l C o ______________________
”
500.000
a P r e fe r r e d a n d c o m m o n s t o c k .
S e p a ra te s ta te m e n ts fo r th e fo r e g o in g c o m p a n ie s a r e g iv e n b e lo w , e x c e p t
f o r t h e E a s t e r n U tilit ie s C o a l C o . , w h ic h s e e in V . 1 0 4 p 2 2 3 7
v
I n J u ly 1 91 7 d i s p o s e d o f its h o l d i n g s in t h o C i t y E l e c t . L i g h t i n g C o . o f
W a t e r * C o ’ I u d " W h° S0 p r o p e r t io s w e r o m ° r g e d w i t h t h o I n d i a n a P o w e r &
D efau lt — O n A u g . 2 9 1 9 1 8 t h e c o m p a n y a n n o u n c e d it s i n a b i l i t y t o p a y
t h e p r i n c i p a l o f . t h e c o l l a t e r a l t r u s t b o n d s m a t u r in g S e p t . 1 1 9 1 8 . I n t e r e s t
d u e th e re o n t o S e p t. 1 1918 w a s p a id .
V . 107, p . 1100.
T h o f o llo w in g
p r o t e c tiv e co m m itte e s h a v e b e e n fo rm e d .
N o t e a n d B o n d h o l d e r s ' C o m m i t t e e . — I I . E . C o o p e r O B W i l l c o x TT C
R o r ic k
and G eo
E . B a rrett
S ecreta ry , 25 & a u
S t. N . Y . C ity :
D e p o s it o r y : E q u it a b le T r u s t C o ., N e w Y o r k C it y .
V . 107, p . 1100
S t o c k h o l d e r s ' C o m m i t t e e ^ — C h a ir m a n , W m . P . B o n b r ig h t ; W . S . l l a r s t o w ,
G e o . C . L e o a n d C . N . W ils o n , S e c r e ta r y ; 5 0 P in o S t ., N . Y . C it y .
D e
p o s ita r y : N ew Y o rk T ru s t C o ., N . Y . C ity .
V . 107, p . 1100.
109
BONDS—
Date.
Interest. Outstanding. Maturity.
Leased Line Securities—
Adam A Mohn 1st mortgage/ 1904 5 g J-J
$75,000 Jan 1 1935
T 57. iP00j K ($1,000) r*cp t(Int. at Colonial Tr. C o.. Reading. Trustee.
,
5
Read-S W is t M , $100,000/ 1900 5 F-A
100.000 Aug 1 1931
($500 & $1,000)-.,— c * c p t ’ Int. at Penna. Tr. C o., Reading, Trustee**
See separate statements for Reading Traction, Schuvlkill Valley Tract
Lebanon Valley St. Ry , and Metropolitan Edison Co. below.
’
Notes .—1 The 2-year Gold Notes are secured by deposit of $3,000,000 Read.
TraM. & L. Co. Gen. & Ref. M . bonds, due 1947 and all of the common
stock ($3,000,000) of the Aletropolltan Edison Co. No new mortgage
without equally securing notes. Call, at 100)4 and int. on any Int.-date
on 30 days' notice. Tax free in Penna. The notes, with certain junior
securities, were issued to provide in part for the acquisition of the common
stock of the Metropolitan Edison Co. and the property of the United
Traction Co.
Bonds. $3,000,000 R. T . & L. Co. Gen. & Ref. M . bonds are deposited
as part security for the 2-year gold notes of 1917 and $8,000,000 are re
served to retire underlying bonds of the merged and leased companies and
to acquire leased cos. if purchased. Additional bonds raav bo issued only
for 80% of the reasonable cost of now property, exts., A c.. when net incoma
is 1 J4 times the annual interest charges, incl. bonds to be Issued. A main
tenance and depreciation fund of at least 15% of annual gross earnings Is
provided, any part not used for malnt., renewals and replacements may bo
expended for exts. and addns.. such expenditures not to be the basis for
additional bonds.
®t£,2 J ?eadln*„Tran?Jt. &,L,,£!?£ Oo. car trust certifs.. Series “ A ," mature
$10,000 annually to July 1 1026: subject to call on any int. date at 101 and
int. on 30 days’ notice. $20,000 have been retired. Secured by 25 cars
title remaining with trustee until entire Issue is paid. Reading Transit &
Light Co. car trust certifs.. Series “ B ,” mature $5,000 annually to Nov. 15
1927; subject to call on any int. date at 101 and int. on 30 days' notice.
Secured by 9 cars. Reading Transit Co. car trust certifs. Series “ A ”
mature $7,500 semi-annually to Jan. 1 1922; $97,500 paid off; subject to
call on any int. date at 101 and int. on 60 days' notice. Secured bv 36
cars, costing approximately $215,000.
y
United Traction Co.— The 1st M . & coll, trust bonds have been called
tor Payment on July 1 1918 at tho office of the trustee at par and Int.
The Birdsboro Street R y. bonds may be called at 105. The Front & Fifth
Vt ',5)<
r
in3,s ar? rei ' at, 105- Tbey are guar., p. & 1., by endorsement by
United Traction Co. (now Reading T . & L. Co.) The Boyertown & Potts
town bonds are guaranteed, prin. & Int., by endorsement by United Trac
tion (now Reading T . & L. C o.). Reading & Womelsdorf bonds are subjeet to call at par. Adamstown & Mohnsville bonds are redeemable at 105.
EARNING S.— For year ending June 30:
Operating Net (after Other — Present Int. Chges. Balance
Year— Rev-nut.
Tares.) Income. Prior Ghgs. Notes.
Surplus
' ™ f i > ,9 :3 .t
.2
W o o °
Property, A c.— 203.12 miles track. 265 passenger and 59 service cars"
3 power plants having 43,000 h.p. generating capacity. 310 miles electric
po e lines. In 1917 can-led 36,845,865 passengers, against 34,372.830 in
1916 and 28,675,602 in 1915.
OFFICERS.— Pres., E. L. West.— V. 106, p. 2451; V. 107, p. 1005, 1193.
STOCK AN D BON DS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 1 0 ,0 0 0 ,0 0 0 (-5100) _________
_
$6 500 000
V
(a) R eading T ra ction .— A trolley road.
P r o f 7 % c u m $ 1 0 . 0 0 0 . 0 0 0 ( $ 1 0 0 ) -------Q -M 15
2 .3 5 0 .0 0 0
” S ee*tex t
ORGANIZATION.— Inc. Mar. 9 1$93 In Penna. to operate the Reading
C o lla te r a l tr u s t n o te s g o ld — / 191 8
7%
2 ,1 5 9 , 0 0 0 S e p t 1 1 9 1 8
City Passenger Ry. and East Reading Electric R y., which It equipped with
0, ,
„
f ,
,
c m \E q u i t a b l e T r u s t C o . , N o w Y o r k , t r u s t e e .
electricity and leased for 99 years, the former from April 1 1893 and the
Stocb z ~ V
w a s 6 % c u m .f r o m M a r c h 1 1 9 1 3 a n d M a r c h 1 1 9 l 6 b o from May 1 1893. On Oct. 1 1894 leased the Reading & Temple
cam o 7 % cu m .
lia s p r e fe re n ce fo r b o t h a ssets a n d d iv id e n d s , a n d o q u a l
Electric R y., for 99 years. The Reading Traction was leased on Jan. 1 1896
v o t i n g p o w e r w it h c o m
P r e f . s t o c k is s u b j e c t t o c a l l a t $ 1 2 5 p e r s h a r e .
D ivid en d s .— I n it ia l d i v . o n p r e f . — 1 4 4 % — p a id J u n o 15 1 9 1 3 . S a m e to the United Traction (now Reading Tract. & Light Co.) for 900 years at
a rental of $10,000 annually for first three years. $20,000 for next two
a m o u n t q u a r t o a n d In c l. M a r c h 1 9 1 6 .
F r o m J u n e 1 9 1 6 t o a n d i n c l.
years, and $30,000 thereafter, and all bond Interest.
S e p t . 1 9 1 7 1M % q u a r . w a s p a i d .
D e c . 1917 d iv . p a sse d (V . 10 5 , p 2 4 5 5 ).
N o t e s . — I s s u e d M a r c h 1 1 9 1 8 in e x c h a n g e f o r a lik e a m o u n t o f c o n v . 5 %
STOCK AND BCINDS—
Date.
Interest. Outstanding.
Maturity.
b o n d s , d u o o n t h a t d a t e , w h ic h h a v o b o o n d e p o s i t e d t o s e c u r o t h o n o t e s .
Stock, $1,000,000 auth ($50)----------J-J
$1,000,000 July'18 7 5 c
E A R N I N G S . — F o r y e a r s e n d i n g D e c . 3 1 ( 1 9 1 7 r e p o r t in V . 1 0 7 p 4 9 9 )First mtge. $600,000 gold gu/ 1893
6 g J-J
50J.003 Jan 11933
C a le n d a r
T o ta l
E xp en ses B on d , A c .,
P refer red
B a la n c e
Not subject to call— c*cp-:\Provident Life & Trust Co., Phila. Trustee
Y ea r—
In co m e.
A T a xes.
In ter es t.
D iv id e n d s .
~
~
Sur. or D ef
Interest is payable in Reading at the Colonial Trust C o. bonds are
1 9 1 7 ..........
$ 3 9 3 ,7 9 5
$ 3 3 ,3 4 0
$ 2 1 2 ,8 9 3 ( 5 ) 4 ) $ 1 0 9 6 6 6
sur.$37,896 Iistod on the Philadelphia Stock Exchange. V. 88, p. 749
1 9 1 6 .............
4 7 2 ,1 9 4
4 3 .6 5 7
1 8 7 .3 3 7 ( 7 % ) 1 0 0 .5 8 3
Dividends— In 1900. 2% ; In 1901, 2>4%; In 1902 and since, 3% per ann.
sur. 80.617
1 9 1 5 - - .............
3 2 0 .2 6 0
2 6 .7 5 2
1 5 7 .1 4 5 ( 6 % ) 141 0 0 0
def. 4,632 LEASED LINES SECUR'S. Date.
Interest. Outstand'g. Last D ir..A c.
C o n — l i d a t e d E a r n i n g s yj f Uu„o,U a r y . c o mpani eess.
o
S u b s i d i[i(|/ C o m u a n i
i
.
----- s o
Reading City Passenger Ry
G ross
N et
D ed u c tio n s
A n o lle
Calendar
Gross
Ne t
Deductions Ap pile, to B a l.fo r
Stock ($350,000) (par $50)______
J-J
$350,000 See text.
Years—
Earnings,
Incom e.
from In c. Sub.Co.Stk. Dnpr A c East Reading Electric R y—•
1917...................$4,495,593 $1,730,931 5}.273,326
*$65,094$392,511 full bald (par $50)________
Stock,
A-O
1916............
3,969.700
100.000 See text.
1.743,315
1.J99.778
*64.735478,802
Bonds, $25.000...............c p t 1897
6 J-J
3.412,658
1915_____ ,
25.000 July 1 1937
1,554,619
iA
,i
i1.166.300
*59,945328.374
* Amount applicable to stock o f sub. cos. not owned
' 1i Reading & Temple Electric Ry—
_
7 A-O
Stock, $75,000, guar_ c p t ____
73.700
See text.
OFFICERS.— Chairman of tho Board, O. B . W ilcox-P ros T B Tivlm 1st mortgage. $75,000_____ 1894
6 A-O
73.700 Oct. 1 1924
V .-P s .. W. S. Barstow and F. V. Henshaw; Scc.-lY cas *^ " P ' Taliaferro’
A
A-O
12.000
N. Y .— V. 106, p. 924, 2232, V. 107, p. 499/1100.
’
' lallalerro’ Carsonia Park Mtge 5.40% f ____
(John McFadden)
— 1 Int. at Reading Tr. Co’., Reading
(1) Rending Transit & Light Co.
Dividends on Leased Line Stocks.— The Reading City Passenger stocktp—l »v
- L J w v j / d. . _ , t h A /o* ue aana tnerearter 1 2 ^ .
* ^ ? n '
"
e r '/u
f
A
S
V A T j j d ' A S °' “ »
prol. .lock are East Reading stock received dividends: 1896. $6,500; 1897 tto e r incfi
1900
slve. $7,000; thereafter $8,000. Reading & Temple^ ElertrteTays^ 7%
“ unually
dividends.
S
c
v * 1n
T rS Ilit“ S h i ' cS™(whM“ ffin A" i d 9K S s V w M Uo/ted Tm c/lon annually in dividend's, A. Jc O.
Co. (Reading). Boyer town & Pottstown Ry., Birdsboro S t R v Read ns
Bonds.— Reading Trust Co. Is trustee for East Reading Elec. R y. bonds
& Womelsdorf Elect. Ry., and Front & Fifth St R y all of these nronerthl siibject to call In 1927 at par. Int. on Reading & Temple bonds Is payable
HmuBiik Trust Co. trustee. Coupon ($100. $500 & $1.000).
7
having been operated under lease. C ontrolsth rou ghstocko ^nP shm thl
Oley Valley Ry. and Noversink Mountain R y
L ^ i t ^ Lebanon St
48^ 11 68 ° f track- Gau« ° 5 ft.
51
In. Rails, 90 lbs.
railway system and tho properties of tho Reading Traction Co A dam t V
town & Mohnsville Electric Ity., S chuylkill^ "lloy^Traction Co
(b) Schuylkill Valley T ra ction .— Trolley.
Reading & Southwestern Ry. Also o w L all theTommon 's t o e k o f the
The United Power & Transportation Co. owns all of the $500,000 capital
Moti ojpolitan Edison Go. (which sco below). Owns or controls and onnr- stock and the entire $100,000 income bonds.
m.uuu uijiiwi
atos tho street railway systems in and about Reading and Lebanon °and
Lease.— Leased for 900 years from April 1 1910 to Reading Transit (in
tho system of street and Intorurban railway? extending from Reading (succeeded by Reading Transit & I.t. Co.) Rental. $5,000 lstbnd 2dVeare'
through Norristown to Philadelphia, serving a populaUon of about 350 ()0(f $15,000 annually thereafter, and $1,000 annually for maintaining organtwl
Principal leases contain options to purchase, also satisfactory nrovisions
“ ““ “
A r a l
for refunding underlying obligations. PrTnchisa arew ithout tlme limR
and unrestricted with unimportant exceptions
Tho company also operates all the utilities supplying electric light and
power without competition in 57 towns, incl. Reading and Lebanon Pa
chartered as present company. Since Jan. 15 1895 has controlled and
“ationV
l
compani es in 32 to?n s L ? l n g .rtotal popm operated the Oonshohocken R y., the Montgomery County Passenger Ry.
Passenger R y., tho
Street Ry. and the
Fare Increase.— On Jan. 10 1918 an Increaso In street-car faros from
tn the Citizens Passenger Ry. The Collegevilie Electric of the several comNorristown
corporate existence
6 cents went Into effect on all lines o f tho company in Reading Norristown
possibleS t0 b° maintalued> but thoIr bonds w b® taken up as rapidly m
I11
Roxborough and Lebanon. On Sept. 10 1 9 l 8 ^ r ^ In R eaflln T ^ d ®
I^S!L0I increased to l cents, tares on tho remainder of tho system
In Jan. 1902 leased for 950 years the Roxborough Chestnut Hill & Norrismcrec-scd to 8 cents. V. 107, p. 1005. Excess fare receipts are
Increases*1 pending final declsion
**1
tho B. S. Comm, as to validity of
CmrTmr».Ks;s^'-o S f 0 3 ' "
Date' Interest.
Common, $3 0,iO,000...................... ------------Prof erred, $2.600,000.................. ............................
Sec'd Gold Notes $2,600,0001 1917
6 F-A
$100, $500 & $1,000)c*.tf./ Int. at Equitable
1917
5%
Outstanding.
Maturity.
$3.650 000
1 700 000
...............
2.450 000 Aug 1*1919
Trust Co N Y trustee
a e fte x t-’ N A u g l l 9 4 ?
° a
*innnnn (51,000)------------ \Int. att Girard, Trust C o.. Phila. trustee
£ J‘ J m
80,000
See text
5100,000 m
Oa« r n % n \ * % W iait0S “ B - l l p i / 5 M -N
50,000
’ See tSxt
fa d in g &art««Cm— .........
at la.C o.for Ins.on Lives,&c.,Pbila.,tr.
Car trust certificates “ A ” / 1912
5 J-J 1
59 600
See tn^t
United°Trac\lm°ho — ~ C*^Int' at Girard Trusb Oo.,*Phlla., trusted? t
First M coll trust g $150,000/ 1896
5 g J-J
58,900
Seo text
(pa,r $100 & $1,000)_c*cpt\Real Estate Title Ins. & T r., Phila., Trustee
;
G oy .Xl1 *y
t r u s t /____
5 J-J 1
248,000 July 1931
certificates $250,000
lin t .at Real E s.T .I.& T r.C o.P h ila trustee
Read-Womelsd 1st M $400,-/ 1895
5 g J-J
400 000 Tan 1 1 0 9 5
000 ($100 &c)
c * .c p t. Int at Real Es.T.Ins.A T ?C o Phila trustee
Birdsboro 8t Uy M k$250,0001 1904 fig J-J _
250,000 Jan
1934
000g ($100 A $500) c * e p t.lln tra t Colonial Tr. Co.f*Rea?ltag? T ^ stee!
c
Oley Valley Ry first mtge,J 1901
414 g J-J
250 000 Julv 1 1931
$250,000 g ($1,000)-C*cpt|lnt.at Real Est. Title Ins.&Tr Co. Phila. Tr
Noversink Mountain b o n d s . . / -----4 J-D
100,000 Juno 1 1931
lint, at Colonial Tr. Co.,.Reading,Pa., Trust.
“ Vsoo.MK?First mortgage, $460.000*"g 1895
5 g F-A
"245:666
Aug. 1945
($ 1 .0 0 0 )....................c e n t ^?o'rwJ^r^tBndTr.& S.D.Co. .Phila., Trustee.
Income mortgage, $100,000 <1899 5 ann.
100.000 Aug. 1 1949
C$500). . — ....... ......... .. cpt
^ TheJ " £ u. ,t,!Slo f the subsidiary companies are as follows. Including both
r
those held by the public and by the parent company.
8
COM PANY, Ac.—
Miles.
Interest.
Issued.
Maturity.
Citizens Pass Ry stock ($50) - 6)4
______
$79 4 0 0
*«*«»**».
1st mtge ($500) $80,000 gold/
5 g F -A - "
80’,000 Fe"b.""l"l925
guaranteed----------------- cptjSubJect to call at 105 on any interest date.
_
, , .
„
lint, at Norrls'n Title. Tr. &S.D. Co Tm s
Oonshohocken Ry stock ($50) _ 5 H
i
_________
1 4 5 :9 0 0
A
irus1st M guar, prin & l n t f ____
5 g J-J
100 000 J u l v 'l 'i o o l
$250,000-__- — . . . cpt iSubJ. to call at 105. Norristown Tr. C o., tr.
Montgomery Co Pass Ry stock 1 U
iko O O
O
1st mtge $150,000— c p t / 1 «
6 J -J ™ ” "
isioOO " " " " m s ”
NOjTteW.. P „ , Ry .tk (.50) . ' " t * *
? ■ * ?i
Trl“ ‘ “ First mortgage............. c p t ]
6 J-J
751000
1923”
„
,
__ ^
.
I Int. at Albertson Tr. & S. D. Oo. T ru sts
Bondi.— The Oonshohocken Ry. bonds ($100,000) and the Montgomery
Traction^foS°nger R y ” 188116 (J15,000) are held
the Schuyklll Valley
ROAD.— Operates 72 miles of track. Including lines o f above-men
tioned companies, and also Roxborough Chestnut Hill A Norristown
Gauge 5 ft. 2)4 In. Ralls 60 and 100-lb.T and girder. 97 cars. V.70,p.281,"
110
ELECTRIC RAILWAYS
(a) R oxborough C hestnut Hill & Norristown R v.— A trolley road.
The United I’ower A Transportation Co. owns 4.959 out of the 4.958
snares of the capital stock. In Jan. 1902 was leased for 950 years to the
..chuylkill Valley Traction at a rental of S4 50 per share, payable seml-ann.
ORGAN IZATION .— Incorp. Dec. 2 1895 In Penna. In 1898 leased the
W'issahlckon Electric, 3% miles, for 950 years; rental to be 2% on the
$145,842 stock for the first two years, 3% for the next six years, 4% for
tho next seven years and 5% for the rest of the term. Also owns the
$250,040 stock of the Trappe & Limerick Electric Street Ry. and leases that
company for 950 years. Comprises 22 miles of track. In June 1890 filed a
mortga.-a for $450,000 to the Real Estate Title Insurance A Trust Co.,
Philadelphia, securing 5% gold bonds ($1,000) J. A D. (cp t), due Juno 1
1926. Issue reduced to $396,000, of which $371,000 was outstanding on
May 1 1918. Capital stock auth., $4.50,000; Issued, $248,400; par, $50.
Trappe & Limerick Elec. St. Ry. 5% gold stock ccrtfs. due July 1 1931;
lnt. (J. A J.) at Real Estate Title Ins. & Trust Co., Trustee. Auth., $250,
000, and outstanding. $249,000. Secured by deposit of $249,000 stock of
the Trappe A Limerick Street Ry.
R O A D .— Total track. 20>S miles; gauge, 5 ft. 2/4 in.; rails, 70 to 90-lb.
girder.— V. 62. p. 1042.
(6) Trappe & Limerick Electric Street Ry.
ORGAN IZATION .— Incorporated in Pennsylvania on July 25 1899.
Was leasod on Dec. 31 1901 to Roxborough Chestnut Hill A Norristown Ry
for 950 years at a rental equal to 5% per annum on capital stock. Interest on
bonds, taxes and $100 maintenance expenses.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Stock $250,000 ($50)________ _____
_____
$250,000
See text.
First mortgage $250,000 g / 1901
4 ^ g J -J
250,000 July 1 1031
($1,000).......... ..........c* cp t(ln t. at RealEstateTItlo Ins.A Tr.C o.,Phil Tr.
Bonds.— Are guar., p. A 1. by Roxborough Chestnut 1 1 1 A Norristown.
11
R O A D .— Length or line 13.35 miles.
(c) Lebanon Valley Street Railway.— A trolley road.
Lease.— Leased to Reading Trausit A Lt. Co. for 900 yoars from April 1
1910. Annual rental of $40,000 and yearly payment of $500 for organiza
tion, as well as taxes and Interest on bonds.
ORGAN IZATION .— Incorporated on June 28 1899 as a consolidation of
the Lebanon & Annsville Street Ry. and tho Lebanon & Myerstown Street
Ry. The United Power A Transportation Co. owns all the 10,000 shares
of the capital stock.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Stock $500,000 (par $50)......................................
$500,000
See text.
First mortgage 10-30s gold/ 1899
5 g J-J
500,000 July 1 1929
($100 $500 A $1 .OOOie.cDti lnt. at Real Est. T . Ins. A T r .C o .. Phils Tr.
ROA D .— Owns 22.08 miles of track. Gauge 5ft. 234 in. Ralls 50, 75.
60 k 100-lb. girder. 23 cars.
(d) The M etropolitan Edison Co.
Reading Transit k Light Co. owns all the common stock.
ORGAN IZATION . — Incorp. In Penna. in Aug. 1917 as a consolidation
of the Metropolitan Elec. Co. (Reading). Edison Elec. 111. Co. (Lebanon)
and Lebanon Valley Elec. Light Co. Furni«hes electric light and power
in Reading, Lebanon and adjacent territory. Controls through stock owner
ship the Pennsylvania Utilities Co. of Easton, which supplies electric light
and power and gas in Easton, Pa., l’ hillipsburg, N. J., and Nazareth and
Stroudsburg, Pa.
Franchises are practically all unlimited as to time.
Hate Increases. — In Dec. 1917 filed supplementary rate schedules with the
Penn. P. S. Comm., effective Jan. 1 1918, providing for an increase of
15% In all classes of service except house lighting, for Increases to power
customers only, to bo regulated by the prevailing prices of coal. This will
advance tho price of current automatically with increases in tho cost of
coal over $3 50 [ter ton delivered.
In April 1918 applied to the Penn. P. S. Comm, for auth. to issue $525,000
bonds for extensions and improvements.
In July 1918 issued $1,200,000 6% 2-year notes to retire $1,050,000 1-yr.
notes due on Aug. 1 1918 and to pay in part for add’ns and imp’ts. V. 107,
p. 296.
_
~
_
Date.
Interest
Outstanding
Maturity.
STOCK AND BONDS—
Common stock $3,000,000..
$3,000,000 __________
See text
__________
Pref 6% cum $2.000.000...
Met Elec 1st M (closed) gl 1909
2.698,000 April 1 1939
5 g A-O
c*cpt(Girard Trust Co. Philadelphia. Trustee.
<$500 k $1,000)
1st A Ref M $10,000,000 gl 1917
5 g F-A
3,649,500 Aug 1 1922
_
($100, $500 & S l,0 0 0 ).c* tf/ln t. at Guaranty Trust Co., N. Y ., Trustee
Gen M $2,200,000 g _________ 1918
5%
Seo text June 15 1938
Secured notes $2,000,00011918 6 g J-D 15
1,200,000 Dec 15 1920
($100, $500 A Si ,000)g c * tf/ln t. at New York Trust Co., N. Y ., Trustee.
Slock.— Pref. stock, none of which is outstanding, is redeemable as a
whole at 105 and interest.
Bonds.— Of the remaining 1st & Ref. bonds, $2,726,000 are reserved to
retire underlying bonds and $3,649,000 are for 80% of cost of future
add’ns, ext ns and imp’ts under special restrictions. Red., all or part, on
30 days’ notice at 102 and lnt. on or before Aug. 1 1921 and 101 and lnt.
thereafter. A maintenance and depreciation fund Is provided equal to
10% of gross earnings, less the amount actually paid during tho year for
repairs and renewals. The co. will pay the Pa. State tax. V. 105, p. 1214.
Tne Metrop. Elec bonds are subject to call as a whole at 110 and lnt. Sink
ing fund of 1% or bonds out operative from 1914-1919; 1 !4 % from 1919-1928;
2% from 1928-1938. $108,500 retired. Bonds are guaranteed, p. A 1., by
United Tract. Co. (now Read. T . L. C o.). Int. payablo at tho Girard Trust
CO., Philadelphia.
Notes.— Aro to bo secured by $1,600,000 20-yr. gen. mtge. 5s, due
June 15 1938. Additional notes may be issued only upon tho pledge of
additional gen. mtgo. bonds in a Iiko ratio and then only under certain re
strictions. Red. at 100 J4 and lnt. on any int. date upon 30 days’ notice.
Company pays Pennsylvania 4 mills tax.
EARN INGS.— Of constituent properties (not inch Penna. Utilities Co.):
Calendar Years—
1917.
1916.
1915.
1914.
1912.
Gross oper. re venue.. $1,502,633 $1,342,226 $928,5.87 $837,457 $678,393
Net, aft. taxes & rents.
573,944
532,088 429,745 408.239 348,233
PR O PE R T Y.— 25,000 k.w. steam station at West Reading (capacity
now being increased to 50,000 k.w.) and a 2,700 k.w. steam station at
Lebanon as a substation and reserve plant. A 33,000 volt transmission
lino between tho two stations was completed early in 1918. Also has a
500 k.w. hydro-electric plant at Klapperthal. Has a total of 131 miles of
high-tension transmission lines and 281 miles of local distribution lines.
V. 105, p. 1424, 2369, 2460; V. 106, p. 195, 1465, 2348; V. 107, p. 296.
(3) West Virginia Traction & Electric Co.
Eastern Power A Light Corp. owns all of outstanding common stock.
ORGAN IZATION .— Incorp. In West Virginia on July 11 1912 and ac
quired the City & Elm Drove RR. (Wheeling) aud the Union Utilities Co.
(Morgantown). V 95 p. 177. The City A Elm Grove R R . owned control
of tho City Ry. Co., tho Wheeling A Elm Grove Ry.. tho Wheeling Park
Assn, and the Suburban Light A Water Go. Controls City A Suburban
Gas Co. of Wheeling, which was incorp. In Dec. 1912 (auth. capital,
$150,000), and took over the Virginia Oil A Gas Co. Owns and operates
electric light power and water supply systems in Elm Grove and neighbor
ing towns; an electric railway from Wheeling through Elm Grove connecting
adjacent suburban towns; electric light, power, gas and water systems in
Morgantown. W. Va. Servos 29 communities with railway and electric
service, 26 with water and 25 with natural gas. Owns a 33-acre park.
Holds under lease over 20,000 acres of natural gas fields, about one-quarter
developed, with extensive systems of gas wells and distribution equipment.
Also has 1.600 acres of gas and oil lands under development. Franchises:
One expires 1927; others extend beyond 1942 or aro porpotual.
Wage Increase.— V. 107, p. 183. .
Fare Increases.— On M ay 1 1918 was auth. by P. S. Comm, to Increase
fares on the Elm Grove line 20% and to discontinue monthly commutation
and school rates. • In Juno 1918 was auth. by tho W. Va. I’ . S. Comm, to
Increase fares from 5 to 6 cents. Auth. to establish a new zone cutting
tho rido between Wheeling and Elm Grove in half and to charge a 4-ccnt
faro in tho new zone was also granted. V. 106, p. 2561.
In 1917 the W. Va. P. S. Comm. auth. tho co. to Increaso Its rates to
industrial consumers of gas In Wheoling and Its suburbs, effectlvo Oct. 1
1917. V. 105. p 1899.
STOCK AN1) BONDS—
Date.
Interest. Outstanding. Maturity.
Common $2,000,000 i$ 100)............ .
.............
$1,250,000 ..................
Pref$2.000.00() 7% cum ($ 1 0 0 ).......
............
619.600 See text.
Secured nnt<-s gold $2,000,000/ 1917
6 g M-N
1.800.000 May 1 1919
($1,000. $500 A $ 1 0 0 )..-CMInt. at Now York Trust C o.. N. V., Trust.
Gon A Ref M $15,000,000/ 1917 5 g M-N
Seo text May 1 1942
($100,$500A$l,000)g..cl
'tf(N ew York Trust C o., Trustee.
[Voiv, 20f.
STOCK AND BONDS—
Dale.
Interest. Outstanding. Maturity,
City A Suburban Gas 1st M [ 1912 fig M-N
$600,000 Nov 1 1932
_
$1,000,000 ($1,000)_ c*tf (Int. at Equitable Trust Go., N. Y ., Trustee .
Olty A Elm Grove cons coll I 1906 5 g J-J
1,119,000 July 1 1936
tr M $2,500,000 g ($1,000) (Int. at Union Trust Co., Pittsburgh, trustee.
Wheeling A Elm Grove first/
1898 5 M-S
160,500 Mar 1 1928
mortgage $225,000 ($500). [Sinking fund retires $5,000 annually.
WheelingAElm Grove M (see/
1901 5 A-O
791,500 April 1 1931
text) ($1,000 A $100) g -.c * ilnt. pay. at Dollar Savs. A Tr. C o., Trustee.
Un. Util. 1st mtge $1,500,-/ 1909 5 g J-J
1,183,000 July 1 1944
000 gold ($1,000)-. c*cr>ttint, at Farmers' L. A Tr Co.. N. Y., trustee.
Bonds.— Notes are callable at 100J4 and lnt. Additional notes may be
sold only when net income is 2/4 times annual Interest charges on notes
outstanding and to bo issued. No additional bonds may be issued by tho
co. or its subsidiaries during the life of these notes oxcopt for the acquisition
of property. Interest payablo wtihout deduction for Federal income tax
not in excess of 2% . Pennsylvania State tax refunded. Notes aro secured
by pledge of $2,500,000 gen. and ref. mtge. bonds. $3,049,000 of tho bonds
aro reserved to retire underlying bonds, $94,000 aro pledged as coll, for
loans, and the remainder may bo issued to acquire 1st M . bonds of other
cos. under specific restrictions or for extensions and improvements at
80% of cost under certain restrictions. A renewal, impt. and redemp.
fund of 1% per ann. of bonds out begins Oct. 1 1918. Call, or all part
at 101 and int. on any int. date on 4 weeks' notico. Tho City & Sub
urban Gas Co. bonds aro guar., p. A L, by tho West Virginia Trac
tion A Electric Co. They are redeemable, as a whole or part, on any
Interest date at 105 and lnt.; cumulative sinking fund of 2% on outstanding
bonds began In 1916. Of the City A E'm Grove eons, collateral trust
bonds, $1,000.000 aro reserved to retire prior liens. Are subj. to call on any
lnt. date at 105 and lnt. V. 83, p. 491. The auth. amount of Wheoling &
Eltu Grove Ry. mtge. was originally $1,250,000. but was reduced In Feb.
1906 to $1.000,000. V. 8.3, p. 379, 491,625. Of Union Utilities 1st mtge.
bonds, $10,000 are In the treasury, $196,000 aro kept alive In sinking fund
and $111,000 are reserved for impts. A exten. at 75% of cost. Red.
at 105 and int. on any Int. day on 30 days’ notico. Sinking fund 1% semi,
ann. of bonds out. After setting aside 1% s.-a.and payment of 7% onprefand 10% on com.,s.f.shares equally with any further illv. on com. V. 90.
p. 373.
Dividends.— 7% per annum has been paid on prof, stock since organlz’n.
EARNINGS.— For years end. Dec. 31 duel, affiliated cos.):
Calendar
Gross
Net (.after
Other
Interest,
Balance,
Year—
Framings.
Taxes).
Income. Rentals. A c.
Surplus.
$464,830
$12,369
$.354,676
$122,523
1917............... $1,050,951
1916.................. 979,655
480,130
9,189
334.008
J55.311
898,595
438,756
8.515
325,252
122,019
1915..............
PRO PE R TY.— 2 electric power plants aggregating 6.000 h. p. capacity;
2 water pumping stations; 2 gas pumping stations; 143 gas wells; 152 miles
of electric lines: 179 miles of gas pipe lines: 74 miles of water pipe linos;
45 miles of urban and suburban railways, largely on private right-of-way.
Standard gatigo. 91 cars.
OFFICERS.— Pres., W. S. Barstow: Gon. M gr., H. D. Whlttomorc;
Treas., A. P. Taliaferro; Sec. A Asst. Troas., C. N. Wilson.— V. 104, p.
1802; V. 105. p. 608, 1899; V. 106, p. 1037; 2561; V. 107, p. 183.
(3)
Claremont Railway & Lighting C o.— Controlled by Eastern
Power A Light Corporation.
ORGANIZATION.— Organized In 1901 and absorbed the Claremont
Elec. Ltg. Co.; does a passenger and freight trolley business between Clare
mont Junction on the Connecticut Valiev Division of the Boston & Maine
and Claremont Lino is about 6 miles long.
Fares.— In Dec. 1917 tho N. II. P. S. Comm. auth. tlieco. to discontinue
the sale of 4 and 5-cent tickets. In July 1918 was auth. to adopt an ar
rangement of 3 zones with a chargo of 5 conts per zono in place of 2 zones
with a 6 cent faro unit. V. 107, p. 180.
Rale Increase.— In Mar. 1918 was auth. by tho N. H. P. S. Comm, to
Increase freight rates by 20% . Now schedule became operativo imme
diately pending further investigation. V. 106, p. 1126.
8TOOK AND BONDS— Date.
Interest. Outstanding. Maturity.
Capital stock $160.000...........................................
$160,000
5%
150.000
Bonds $1.000.000..............................
EARNINGS.— For tho year ending Doc. 31 1917, gross, $54,581; not,
after taxes, $6,889. In 1916, gross, $53,984; net. after taxos, $7,749.
OFFICERS.— Pres., J. B. Taylor; V.-P., L. 11. Tyng; Sec., O. N.
Wilson; Treas., J. P. Campbell. V. 96. p. 1020; V. 105* p. 2271; V.
106, p. 1126; V. 107, p. 180.
(4) Claremont Power Co.— Controlled by Eastern Power A Lt. Corp.
Furnishes electric light and power In Claremont. N. If. Application to
Issue stock and bonds now pending before P. S. Comm, of New Hampshire.
(5) C olonial Power & Light Co.— Controlled by Eastern Pow.& Lt.Co.
ORGANIZATION.— Incorp. In Springfield, Vt.,
Owns and operates
electric light and power properties In Cavendish. Manchester and Sprlugfleld. Vt. Hydro-electric power station has 1.500 k. w.
STOCK AND BONDS—
Date.
Interest. Ou'slanding. Maturity.
Stock $1,000,000 ($100).............. ......................
$260,500 ...................
First mtgo. Red. at 105 & Int./ 1913
5 g M-S
283.000 Mar 1 1943
on .3 w >'ks' notice________ (Int. at Equitable Trust, Go., N. Y ., trustee.
Sinking fund of 1% per annum began Mar. 1 1918.
R IC H M O N D , V A .
VIRGINIA RAILWAY & POWER CO.
ORGANIZATION.— incorp. in Virginia on July I 1909. and Is successor
to the Virginia Passenger & Power Co. sold at foreclosure May 5 1909. V'.
89. p. 44, 105. Tne reorganization was under plan given in V. 87, p. 347
On July 1 1911 took over by consolidation the Norfolk A Portsmouth
Trac. Co. (Into which was merged tho Norfolk A Atlantic Terminal Co on
June 30 1911), and Increased Its stock to $12,000,000 com and $8,000,000
pref.; $150 Virginia Ry. A Power com. was exchanged for each $100 Norf. A
Portsm. com ; the pref. was exchanged share for share. V. 93, p. 106.
For history of Norfolk A Portsmouth Traction organization see Electric
Railway Section” of June 1911. p. 84.
Through acquisition of Norf. A Portsm. Trac., the Virginia Ry. A Power
Co. acquired ,the lease of tho Norfolk Ry. A Light Co. for 99 years from
June 1 1906 and the entire $100,000 capital stock and ($1,000,000) bonds
of the Norfolk A Ocean Vlow Ry. Co. (dissolved Apr. 5 1917).
On June 29 1912 sold to Richmond A Rappahannock Ry. the “ Seven
Pines Line” of railway, ‘29th and I’ Sts., Richmond, to Seven Pinos, Henrico
County. 8.88 miles, for cash consideration of $25,000. V. 95, p. 1.397.
On July 20 1916 the shareholders ratified the merger of the Richmond
Ry. A Viaduct t ’o. (all of whose stock was owned), and auth. an Increaso
In pref. stock from $8,000,000 to $9,000,000 In connection therewith. The
new stock Is held In company's treasury. V. 10.3, n. 407.
Owns or controls through lease practically the entire street railway, elec
tric light and power business In Richmond, Petersburg. Norfolk (all except
line to Virginia Reach), Portsmouth and Berkeley; an interurban railway
connecting Richmond and Petersburg; a line from Norfolk to Sowell's Point,
where connection I s made by ferry to Newport News and Old Point Com
fort; electric light business of Suffolk. Va.; tho Olty Gas C o., with unlimi
ted franchises.
Franchises.—The Manchester A Petersburg Ry. franchises are perpetual.
The principal railway franchises in Richmond expire in 1926 and 1931.
Tho Interurban rallwayfranchi.se expires in 1981. .The water power rights
in Richmond and Petersburg are perpetual. These rights are only partly
utilized and are capable of a largo further development. Tho more Im
portant rights for lighting In Richmond expire In 1927 and 1928 and In Man
chester in 1931. Tne Petersburg lighting franchises are prepetual. V. 89,
p. 529 Franchises for streot railways In Portsmouth expire hi 1926, 1927
and 1932. Streot railway franchises In Norfolk expire In 1944. In 1915
the City of Suffolk granted a new 30-year franchise to do a light and power
' business and made a 10-year contract for municipal light and power service
with certain rights of renewals. Negotiations are In progress with tho cltle-;
of Richmond and Norfolk for tho entire revision of tho railway and light
anil power franchises.
In Jan. 1913 Virginia Supreme Court held company liable for the cost
of paving between and two feet outside the tracks
On Dec. 29 1917 the stockholders approved the Issuance of $950,000 6%
collateral trust notes to pay for capital expenditures, particularly a hlgnvoltage transmission lino from Petersburg to Suffolk.
Fares.—-In Julv 1918 tho Richmond Council Committee on Streets rec
ommended an ordinance providing for a straight 5 cent faro on the railway
lines of tho city, labor tickets at 3 for 10 cents, the retention of tho 2X*ccti6
school tickets and universal transfer privileges. V. 107, p. 503.
ELECTRIC RAILWAYS
S ept ., 11)18. |
STO O K A N D B O N D S —
Date.
Interest. Outstanding.
Maturity
C om m on $12,000.000 ($100)..............
A-O $11,950,500 Soo text
Preferred $9,000,000 ($100)..............
J-J
7.999.400 Jly. '1 8 .3 %
First and refunding m ortgage/ 1909
5 g J-J
11,949.000 July 1 1934
$15,000,000 g ($1,000) ..c * \ I n t. at Equitable T r. C o ., N . Y ., trustee.
Richm ond Railway & E lec-f 1890
5
17,000 July 1 1920
trie first m ortgage_______ (M etropolitan Trust C o .. New York, trustee.
Norfolk & Ports rn 1st m tg e/ 1900
5 g J-D
0,414.000 June 1 1936
$8,000,000 ($1,000) g o l d -, lin t , at Baltimore Trust & Guar. C o ., trustee.
N orfolk & Atlantic Term l s t f 1899
5 g M -8
500,000 M ar 1 1929
mtge $500,000 gold ............(Interest a t Alex. Brown Sc Sons. Baltimore.
Collateral trust notes $950,-1 1918
0 J-J
950,000
See text
000 ($500 < $ 1 .0 0 0 )..c . n t f fla t . at Va. T r. C o ., R ichm ond. V a.. Trustee
V
Stock.— T he prof, stock was entitled to non-cum . dlvs. o f 5% up to Jan. 1
1914 aud thereafter to uon-cuin. dlvs. up to 0 % . Both com . and pref. are
listed on the New York, Philadelphia and Baltimore Stock Exchanges. V.
92, p .8 8 2 , 1033, 1111, 1375; V .9 3 .P .2 3 0 . See official statement to N . Y .
Stock Exchange. V. 92. p. 1118.
Bonds.— $08,000 or the first and ref. bonds are reserved to retire $32,000
Richm ond R y. & Electric first mortgage (o f which $15,000 are In treasury),
together with $30,000 Richmond & Allegheny R R . bonds which matured
A ug. 1 1911 and are held In treasury ponding release o f mortgage and ex
change for Virginia R y. & Pow. C o. bonds. $590,000 are In treasury, and
remaining $2,057,000 reserved for future Improvements, subject to certain
restrictions. Sinking fund. M % semi-annually o f bonds out from 1914 to
1919 and
semi-annually thereafter; $330,000. not Included In amount
reported outstanding, held In sinking fund M ay 1 1918. Bonds are subject
to call at 105 S Int. V. 92, p. 1212. Listed on N . Y , Phlla. and Baltimore
c
Stock Exchanges. V .9 1 .P . 125; V. 90. p. 1425: V .lO O .p 557. Unissued
Norfolk & Portsmouth 1st M . bonds o f 1900 may be Issued Tor acquisitions,
extensions and Improvements, but not over $500,000 In any one year.
A sinking fund o f >4% per annum o f outstanding bonds began
Juno 1 1910, which Is to be Invested In the bonds: $82,000. not In d . In amt.
reported outstanding, hold In sink, fund D ec. 31 1917. Are subj. to call at
110 and lnt on any Int. date upon 00 days notice. Bonds are listed on
Phlla.. Boston. Balt, and Plttsb. Stock Exchanges. V. 83. p. 492.
N otes.— The coll. tr. notes mature as follows; $100,000 semi-annually
from Jan. 5 1919 to Jan. 5 1921 Incl.. $200,000 July 5 1921. and $250,000
Jan. 5 1922. Are subject to call all or In part at 102 and Int. on any int.
date on 30 d ays’ notice.
Dividends - On pref.. first d lv .— 1 M % — paid July 1 1910. In 1911.
1912 and 1913. 5 % . In 1914. 5 )4 % - In 1915 and Rinee, 0 % per annum.
On com . first dlv — l % — paid O ct. 1911
In 1 9 1 2 .2 % . In 1913 to 1917.
Inch, 3 % ; A p r., 1918, dlv. om itted (V. 100, p. 1127.)
R E P O R T .— Of com bined properties (1917 report In V. 105, p. 1894):
Years end. June 30—
1917-18.
1910-17.
1915-16.
1914-15.
Fare passengers... 82.045,749
69,807,331 67,220.450 62,271.603
Free passengers__
645,950
714,733
699,15(5
771,537
Transfers................ 16,508,244
17,151.090 10,281.570 13,934,578
T otal passengers. 99,799,943
87,673,154 84,207,182 70,977,718
K . w. hrs. output, com 'l 108,620,075 95.068.303 75,409.277 58.044,703
Gas sold, cubic feet_4 75,881,800
420,911,700 394,961,300 401.026.000
Gross ea rn in g s___ $7,457,530
$6,044,495 $5,645,158 $5,109,622
Operating exp en ses____ 4,100,492
2,941,293
2,676,179
2,469,074
N et earnings...........
$3,357,037
Othor in co m e ____
115,865
$3,103,202
98,391
$2,968,979
90,610
$2,640,548
80,919
N et incom e......... $3,472,902
$3,201,593 $3,065,589 $2,721,467
Taxes, interest, &C.$1,924,378
$1,817,057 $1,742,668 $1,636,418
Preferred d lv s ................(6% )479,952 6 % )4 7 6 ,3 5 2(6 % )4 7 2,75 2 (0 % )4 7 2 .7 52
Com m on dividends _ ( l > i % ) 179,243 3 % )3 5 8 ,4 8 2(3 % )3 5 8,48 2 (3 % )3 5 8 ,4 82
Surplus for yea r...
$889,330
$549,702
$491,687
$253,815
D irect charges to P .& L .
299,451
192,448
08,804
02,540
469,802
*359,904
100,000
100,000
Depreciation reserve___
Bal. to profit & lo s s .. sr.$120,077
d o f.2 .6 5 0 sur.$322.883 sur.$91,269
* 6 % of gross earnings.
ROAD
— The com pany opera 257.448 m. o f single track; 50S passen
ger and 10 service cars. Also owns valuable park properties and other real
estate, (tails, 95. 109-lb. girder and 60, 70 mid 80-lb. T . 0 power stations
and 10 sub-stations, com bined capacity, 73,700 k. w. A transmission line
between Petersburg and N orfolk, costing about $750,000, is contem plated.
O F F IC E R S . — Pres., Thom as S. W heelwright, Richm ond; Vice-Presi
dents, Fritz Sltterdlng; V .-P . & Gen. M g r., O . B. Buchanan o f R ichm ond;
V .-P . & Gen. Counsel, E. Randolph Williams, Richm ond; Sec. & T reas.,
G eo. B. Williams, R ichm ond; Asst. Sec. & Asst. Treas., G eo. 11. T aylor,
New York; Gen. Aud. <c Asst. Treas., VV. J. ICehl; A sst. Gen. A nd .. A. E.
S
Dickson. General office. R ichm ond, Va. N . Y . office, 149 Broadway.
— V. 105, p. 2186, 2273; V. 106, p. 191, 500, 1127, 2451; V. 107. p . 503.
(1) N orfolk R ailw a y & L ig h t.
_
Lease.— Was leased on Juno 1 1900 to N orfolk & Portsm outh T raction C o.
(slnco consolidated with Virginia R y. & Power C o.) for 99 years, rental
being (in addition to all fixed charges), $16,500 oach Juno 1 and D ec. 1
from June 1 1900 to Juno 1 1907. Inclusive, and Increasing to $49,500 s.-a.
on Doc I 1912 and thereafter. V 82. p. 1323.
O R G A N IZ A T IO N .— Incorp. In Va. N ov . 2 1899 as a consolidation o f the
following; N orfolk Street R R ., N orfolk & Ocean View R y ., Virginia Elec.
C o . and Berkeley Light & Power C o. Owns entire stock o f the N orfolk
Light, Heat & Power C o. Street railway franchises expire in 1914, except
a small portion o f mileage In N orfolk, which expires in 1934. Electric
light franchise expires in 1930. The com pany controls the street railway,
olectric lighting and power business o f the city o f N orfolk and owns a lino
o f railway to W illoughby Spit aud connects with steamer to Old Point
C om fort; also owns 4.011 shares out o f 5,000 shares o f the stock o f the
C ity Gas C o. o f N orfolk, remaining shares, 989, owned by Virginia R y.
& P ow . C o. On Aug. 30 1904 the C ity Gas C o. purchased the Berkeley
Gas C o. V 79, p. 908. Stock Is llstod ou Philadelphia Stock Exchange.
STOOK A N D B O N D S —
Date.
Interest. Outstanding.
Maturity.
Stock $1,660,000 ( $ 2 5 ) - - . - - - - - 0 J-D
$1,050,000 D ec 1 7 .3 %
Virginia Electric C o. 1st m tgef 1898
5 A-O
10.000 April 1 1928
$500,000 gold ($1,000)------ (In t. at U . 8. M tge. & T r. C o ., N. Y ,, trustee.
N orfolk Street 1st cons m tgef 1898
6 g J-J
1.040.000 Jan 1 1944
$1,040,000 gold ($1,000)-c l l n t . at M erc. . T r . & D e p .O o .. B alt., trustee.
Norfolk Ry & Lt 1st cons m tgf 1899
5 g M -N
2.950.000 N ov 1 1949
$4,000,000 g ($1.000) s f.c * U n t . at Internat. T r. C o ., Baltimore, trustee.
C ity Gas C o first m ortga ge--I
6 J-D
500.000 Juno
1926
(U . S. M ortgage & Trust C o .. N. Y. trustee.
Bonds.— O f the N orfolk R y. & Light first consol, m tge. $1,050,000 is re
served to retire underlying bonds. Sinking fund began N ov. 1 1909. and
provides for the purchase o f 1 % o f outstanding bonds each year at 110 or
less. See V 70 p 584
$325,000 or bonds reported outstanding held In
Sinking fund M a y 1 1918. $135,000 N orfolk Street R R . bonds were also
In sinking fund as o f M a y 1 1918.
O F F IC E R S .— Pres., Thom as S. W heelwright; V .-P s., W alter H . T aylor
and F. Sltterdlng; Sec. & Treas.. W . J. Kehl.— V.82, p.1323; V.106, p.925.
ROCHESTER, N. Y.
111
The following Is a list o f the stocks owned by the N . Y . State Railways;
Schenectady Railway C o _________$2,050,000 or 50%
o f whole am ount
300.000 ........ "
East Side Traction C o ___________
100%
Syracuse Land & Steam boat C o ._
10.000
100%
“
“
Syracuse & Valley Land C o _____
4,450
100%
“
"
Glen Haven Im provem ent C o ___
14.500
100 0 0%
“
“
Ontario Light & T raction C o ____
100.00%
“
“
100.000
Rochester Electric Railway C o ___
176,300
88.15%
“
“
M iscellaneou s___________________
7,695 “ 2 to 8%
“
“
Also owns $56,155 C ity o f N . Y . 4 )£% cou p, " C o r p . stock and $158,766
'
railroad bonds.
Franchises In Rochester are practically perpetual and exclusive, with
exception o f a few extensions which run for 50 years.
Contract for Power.— Power for all lines Is supplied under a long-term co n
tract with tho R och. R y . & Lt. C o ., whose entire com . stock Is owned by
Mohawk Valley C o. (in turn owned by N . Y . Central R R .).
On Feb 19 1915 the P. S C om m , denied the city o f Rochester’s applica
tion for an order directing tho com pany to reduce its fare in the Rochester
zone from 5 to 3 cents during rush hours. V . 100, p. 643.
For P. S. Comm ission's decision dismissing com plaints o f residents of
Oneida, Chittenango Station. Syracuse aud other places asking lower fares,
com m utation and school rates. See., see V. 101 o . 213.
Favorable Jitney D ecision.— See V. 102, p. 2167.
On Dec 29 1910 tho C ourt o f Appeals upheld the constitutionality o f the
Charlotte annexation bill which provides for a single 5-cent fare within the
city limits as extended. T h e co . appealed from the decision, was defeated,
and now has carried case to the Supreme C ourt.
Wage Award by War Labor Board.—-V. 107. p . 501.
Fares.— In June 1917 applied to P. S. C om m , for auth. to Increase fares
from 5 to 6 cents in the cities o f Rochester. Syracuse, U tica, R om e. Oneida,
and Little Falls. On April 18 1918 Judge C uthbort W . Pounds in the
N . Y . State C ourt o f Appeals at Albany handed dow n a decision holding
that the Commission cannot increase fares on Rochester surface lines. T ho
couro held that where a m unicipality and a street railway corporation have
entered Into an agreement to fix the rate o f faro at 5 cents, the pact is
binding. V. iOo, p. 1461. Applications for fare increases have been filed
with the C ity Councils o f Rochester, Syracuse and U tica. V. 106. p. 2759.
In M a y 1918 applied to the N . Y . Public Serv. C om m , for authority to
negotiate a 5-year loan from tho War Finance C orp. for not to exceed $1
500,000. A uth. to issue sufficient 1st consol, mtge. 4 H % bonds to realize
$2,230,906 (at a price to be approved b y tho P. S. C om m .) and to issue and
plodgo as coll, security to the above-m entioned or other loan $2,500,000
par value o f tho bonds was also asked. V . 106, p. 2011. A uthority to
carry these plans out was denied.
Interest. Outstanding.
Maturity.
ST O C K A N D B O N D S —
Date.
Q-J
$19,952,490
See text
C om m on $19,997,700 ($100)..............
Pref $3,862,500 ($100) 5 % c u m ____
Q-J
3,862.500 A p r '18. H i
1st cons M Sor A $50,000,000 f 1912 4 H g M -N 13.457,000 N ov 1 1962
Vi
19
Security Trust C o. o f Rochester, trustee.
gold ($1.000)..........c*& r*tf ~
Interest at Treasurer’s office, New Y ork.
Rochester R y Consolidated 1890
5 g A-O
2.700.000 April 1 1930
M ortgage $3,000,000 ($1. Interest at Treasurer's office. New Y ork.
000) g o l d _______________ c* Bankers Trust C o ., New York, trustee.
Roch Ry 2d M $1,500,000 1893
5 g J-D
1 500 000 D ec 1 1933
gold ($1,000)..................... c* Int. at Security T r. C o ., Rochester, trustee.
Rochester C ity & B 1st mtge 1889
6 A-O
175.000 April 1 1919
$500,000 ($ 50 0 )................... - Interest at Rochester Trust Sc Safe Dep. C o.
Utica Sc Mohawk Vail 1st M
1901
4 4 g M -8 2.268.000 Sept f 1941
$4,000,000 gold ($1,000) Interest at Harris. Forbes & C o .. New York;
New York Trust C o .. New York, trustee.
c * --------------cannot be called
Utica Bolt 1st mtge $500,000/ 1889
5 M -N
500.000 N ov 1 1939
g'old ($1,000)
______________________ Interest at N . Y . Trust C o .. N . Y ., trustee.
Utica Belt 2d mtge $200,000 1891
5 J-J
39.090 Jan 1 1931
gold ($ 50 0 )....... ................... c Interest at N . Y . Trust C o .. N. Y .. trustee.
Herk M o llion & Frankfort 1895
6 g J-J
150.000 Jan 1 1926
mtge g $150.01)0 ($ 1 ,000)c* Int. at Farmers' Loan & T r. C o ., N .Y ., trus.
Syrac It T 1st M ($3,250,000) 1890
...................
5 g M -S
2.500.000 M ar 1 194$
gold ($1,000)___________ e*(G uaranty Trust C o .. Now Y ork, trustee.
do 2d mtge $750,000 ($!
'1 9 0 0 5 g J-J
054.000 Jan 1 1930
000) g o l d _______________
J n t . at Citizens Sav.Jt T r .C o .C le v ., trustee.
People's R R first mortga^
j 1891 5 J-J
750.000 Jan 1 1921
gold ($750,000)__________
ntereetat M erchants' N at. Bank. Syracuse.
East Side Traction 1st M
1899 5 J-D
250.000 Juno 1 1929
$250,000 ($1,000) g o l d .. •a t. at Citizens Sav.Je T r. C o .. C le v ., trustee
Real estate mortgages_______ _____
________
36.000 __________ _
Ontario Light A Traction Co.—
Z Ontario Lt & T r a c ls tm t g e l 1’. 01
3 4 M -N
4,000 M a y 1 1927
$10,000 ($500)___________ c(u h. O . Loffingwell, trustee.
zOanandaigua K l L t & R R l r t f I "• 7
3 4 J-J
150.000 July 1 1927
m tge $150,000 ($500)____c\5 ln t. at Citizens C ent. N at. B k., N . Y .C lty .
zOanandaigua El Lt & R R ls t f 1897
0 J-J
35.000 July 1 1927
m tge $50,000 ($500)____ c\6 Int. at Citizens C ent. N at. B k ., N .Y .C it y .
a Interest Is payable to the M ohawk Valley C o . only.
• b Rochester Trust. Si Safe Deposit G o.. Rochester. N . V . trustee.
z Under merger plan in 1917 these bonds were assumed b y the Rochester
R y . & L t. C o.
Slock. — Preferred stock can be Increased only with consent o f two
thirds o f outstanding preferred stock, and holders are to have right to take
ihelr proportionate shares o f such Increase. Stock Is subject to call at 110
upon any dlv. day on 30 days' notice. V . 88. p. 945. Both stocks are
llstod on N. Y . Stock Exch. See official statem ent. V . 92. p. 951.
Bonds.— O f the first cousol. bonds, $13,486,000 are reserved to retire
underlying bonds. T he remaining bonds may be issued for equip ., lm pts..
& c., to tho extent o f 90% o f the cost, and for acquisitions at actual costs,
provided In each case that the annual net Income (inci net luc. on securities
owned) shall bo 1 4 times the annual lnt. charge on all bonds. Ind . underly
ing bonds thou outstanding and any add'l 1st consols, desired to be Issued
Sor. A. bonds are red. at 105 & hit. on 60 days' notice. V . 95. p 1208; are
listed on N Y. Stock E xch; exempt from State, county and municipal taxes.
Rochastor R y. 2d M . bonds cannot be called.
Syracuse R ap. T ran. 2d M . bonds are subject to call on any Interest date
Dividends.— 1 H % on pref. paid July 1909 and quar. to and incl. April
1915. July d lv. passed (see V. IOO, p. 2759). On co m ., 1 4 % quar. from
July 1910 to July 1914; O ct. 1914. 1% . V. 99, p. 894. In 1915, 4 % ; in
1916, 4 j i % ; i n 1917, Jan., 1 % ; April, 1 % ; July, 1 % . N one since.
R E P O R T .— Com bined statement for years end. D ec. 31 (after allowing
for Inter-com pany charges)— 1917 report in V . 106, p. 1680:
1917.
1916.
1917.
1916.
$
S
$
$
Gross ea rn in g s..8,460,002 8,256,470 Schenec.R y.sur.,
Exps.& deprec'n.5,758,999 5,153,199 N .Y .S .R y s .p ro
T a x e s __________ 548,091
509,962 portion, 5 0 % . .
35,705
17,035
O n t.L .& T r .C o .
N ot earnings.2,152,912 2,593,309 sur.,N .Y .S.R ys.
portion, 1 0 0 % .
1,516
8.089
N on-op.rov.(uet) 110,664
146,214
T ot.net Income. 862,209 1,386,872
Deduct—
Gross Incom e-2,263,576 2,739,523
193 125
Pref. dlvs. (5 % ). 193 125
D educt interast
and re n te .. . . 1,438,588 1,377,775 C om . d l v s . (2)398,940(4H ) 9471482
NEW Y O R K S T A T E R A IL W A Y S .— O f th ecom m on stock, $13,004,300
(also $600 p ref.) owned by New Y ork Central R R .— (See M ap cm page 113.)
N ot in c o m e .. 824,988 1,361,748! Balance, surplus. 270,144
246,265
OU g a NIZ iA I’ i o N —
Incorporated In Now York ou Marcn 22 1909 as a
R O A D .—On Dec. 31 1917, operated 338-18 mllas o f railway, o f which
consolidation o f the Rochester R y . C o ., the Rochester & Sodus Bay R y. Co.
270.54 miles owned and 67.64 miles leased. Milos main single track. 558.84
and the Koch. & Eastern Rapid R y. C o. (as per plan V. 88. p. 53. 823, 945.)
(o f which 416.57miles owned and 142.27 leased); sidings, 26.15 miles: total
and on O ct. 14 1912 the P. S. C om m , approved the further merger with the
track mileage, 584.99, Milos o f railway owned, leased and oporatod by
Utica & M ohaw k Valley R y ., Oneida R y .. Syracuse Rapid Transit R y. and
Rochester Sc Suburban R y ., all o f whoso stocks had already been owned. subsld. co s ., in addition to mileage operated directly by N . Y . State R ys.:
V. 95. p. 1040.
Owned. Leased. Operated.
T he Rochester Railway was a consolidation o f the Rochester C ity A
. . . 4.69
Brighton R R ., the C ross-Town R R . and the South Park R R ., and leased a Ontario Light & Traction C om pany------------- . . . 2.53
the Rochester Electric R y. from July 1 1894 for 50 years, at a rental o f 8%
9 58
69.30
b Schenectady Railway C o ___________________
on $200,000 stock, and whenever gross receipts exceed $55,000, one-quarter
—
o f such ercoss
111
1917 the property and franchises o f the Ontario Light Sc Traction C o .,
9.58
_ .73.65
69.36
othor than the electric railway property, wero disposed o f to the Rochester
a Leased to N . Y . State R ys. 6 N . Y . State Rys. owns a half Interest.
R y . & Light Co.
Has 944 passenger, 20 express and 134 other cars (including 2 electric
On March 10 1910 Pub. Sor. Com m , authorized an Increase in stock from
$23,140,200 to $23,860,200 to be used to take over the Rochester & Subur locom otives) and 40 snow plows; total, 1,138.
O F F IC E R S .— Pres., H orace E . Andrews, N . Y .; V .-P .’s, John Carstenban Uy. (stock $420,000). the Rochester Electric Ity. (stock $200,000) aud
the Ontario Light & Traction C o. (stock $100,000). which controls the Ron, Walter lCernan and James F. Hamilton; T reas.. M . S. Barger, N . Y .;
Canandaigua Gas Light C o. See V. 90, p. 914. 1425. In Jan. 1912 ap Sec. & Gen. A ud.. J. C . Collins, Rochester; Asst. T reas.. C . A . Tucker,
plied to Public Service C om m .. 2d D ist.. for authority to Increase stock to Rochester; Asst. Sec., II. L. Reichart, N . Y .— V. 106, p. 499, 607, 1461,
1G30, 2011, 2649, 2757; V. 107. p. 501.
$24,362,500. V. 94. p. 08. Permission was not granted.
ELECTRIC RAILWAYS
112
(1) S ch e n e c ta d y R a ilw a y .— A trolloy road.
Entire stock is owned Jointly by the N . Y . State R ys. and the D el. Sc
H ud C o ., one-half b y each. V . 80. p. 652; V . 87. p. 280, 545; V'. 88, p. 54
O R G A N IZ A T IO N .— Incorporated In New York
A reorganization on
F eb 11 1895 o f Schenectady Streot R y . C o ., which was chartered In 1880.
C ontrols the entire street railway business in Schenectady and owns and
operates double-track Hues to A lbany, T roy and Ballston Spa, and, under
tra ffic agreements with the Hudson Valley R y ., from Ballston Spa to
Saratoga Springs. Has trackage rights over the United Traction C o .’s
tracks Into Albany and T roy . Franchises perpetual.
Favorable Decision Regarding Fares.— On M a y 21 1914 the P. S. Comm
dismissed the com plaint o f the city against the com pany in which an order
was askeiI com pelling the com pany to sell six tickets for a quarter Instead
o f a straight rate o f 5 cents. V . 98, p. 1609. See also V. 100, p. 231.
Wage Award bg War Labor Board.— V. 107, p. 502.
T he com pany has applied to the P. S. C om m , for authority to raise fares
to 6 cents. It is stated that the Schenectady Council has agreed to waive
tho franchise restrictions o f 5-cent fares if it is found that the c o .’s revenues
are not sufficient to m eet the 6 K -ccn t wage increase given the carmen in
June 1918 in order to settle a strike. V . 106, p. 2661.
ST O C K A N D B O N D S —
Date.
Interest. Outstanding.
Maturity.
Stock $7,000,000 (8 100)____ ________
________
$4,100,000
See text
First mortgage $20,000,000/ 1916
5 g M -S
2,676,000 M ar 1 1940
gold ($1,000)--------------- c * . ( U . S. M tge. & Trust C o ., N . Y , trustee.
Bonds.— $324,000 additional bonds m ay bo Issued to retire floating dob^
and for other corporate purposes. Remainder o f first $5,OO0.OOO(Ser."A")
m ay be Issued from tim e to time for cash cost o f extensions and permanent
Improvements. Bonds In excess o f $5,000,000 may only be Issued for 80%
o f cost o f extensions, & c., under conservative restrictions, and may bear
interest, not exceeding 6 % , and be caliablo under such terms and conditions
as the directors may determ ine. Ser. “ A ” bonds are caliablo at 102 H and
Int. on any Int. date on and after M arch 1 1919. Exem pt from N . Y .
State, county municipal personal property taxes. V. 102, p. 887.
Dividends.— Initial d iv .— 2 k i % — in 1906; 1907 and 190S, none. In 1909,
4 % : 1910. 6 H % ; 1911 to 1915, 6 % . In 1916, 5 % . In 1917, 3*A % .
E A R N IN G S . Gross
N et (after Other
Fixed
DMBalance.
Cal. Year— Earnings. Taxes).
In c. Charges.
dends.
Surplus.
1917
$1,447,151 $372,720 $1,143 $148,703(3?<)$153,750 $71,410
1916
1,329,583 373,619 2,679 137,228 (5% )20 5 ,0 0 0 34,070
R O A D .— Operates 139.85 miles or track, o f which 114.61 miles owned
a i d 25.24 miles operated under traffic agreements. 70, 75, 78 and 80-lb.
T girder rail. Has agreement with Fonda Johnstown & Glovorsville
R y . C o. (electric division) whereby latter com pany operates its cars into
Schenectady. Does a package express business through controlled Electric
Express C o
Operates 201 m otor and 33 other cars.
O F F IC E R S .— Pros., Horace E . Andrews; V .-P ., Frederick P . Gutelius;
Gen> M g r., Jas. P. Barnes; Sec., Treas. Sc Purch. A gt., J. II. Aitkin; Gen.
A u d ., J. C . Collins, Rochester; A u d ., F . E . B ellev ille— V . 102, p . 887;
V . 106, p. 612. 2561; V. 107, p . 502.
[V ol . 107.
Bonds.— Provision is made for tho retirement o f the prior lien bonds out
o f tho sinking fund or by tho sale o f other bonds, the bonds taken In ex
change for the old securities then becom ing an absolute first lien. A ddi
tional bonds may only be Issued for betterm ents, extensions, A c ., under
carefully guarded restrictions. $1,341,200 o f the R . I. Southern R y . bonds
are owned by the M iss. Vail. R . & P . C o.
R O A D .— Runs north from M onm outh to a connection with the C hla.
R ock Island & Pac. R y . at M onm outh Junction, 31 miles, and thence op
erating Into city o f Ro£k Island, a distance o f 22 miles, over line leased for 25
years from O . R . I. Sc P. R y ., which has been electrified. Also 7 miles from
Gilchrist June, to Aledo and 6 miles from Alexis Jet. to Alexis. T o ta l
miles o f single track operated, 72.29. Has connections for D avenport,
la ., M oline aud Galesburg, 111. 10 pass., 243 freight, 2 express and freight
and 7 work cars; 7 steam locom otives. 76-85-lb. rails. Also operates the
power house located at E dwards R iver.
O F F IC E R S .— Pres., J. J. Fleming, Burlington, Iow a; V .-P ., T . P .
G aylord, Pittsburgh; S ec., M . A . W alsh, Clinton, l a .— V . 101, p. 449;
V. 105, p . 6
0
7
. _________, ___________
R O C K L A N D , M E.
MAINE R A IL W A Y S . L IG H T & P O W E R C O.
O R G A N IZ A T IO N .— Organized in M aine June 3 1914 as a holding co m
pany to control streot railway, electric lighting, gas and hydro-electric
properties. In addition the com pany will have a com plete organization
prepared to furnish engineering, appraisal or m anagem ent services to
owners o f other public service com panies.
Owns 8 0% o f the stock o f the R ockland T hom aston & Cam den Stroet
R y. and the entire com m on stock o f the Oxford Electric C o. Owns and
operates a gas plant in the city o f R ockland aud furnishes electric light and
power In the city o f R ockland, towns o f C am den, R ockp ort, T hom aston.
W arren. N orw ay. Paris, M echanics Falls and Oxford. V. 99, p. 1832.
STOCK AND BONDS—
Date. ' Interest. Outstanding. M aturity.
Stock com m on ($100) $500,000 ____
__________
$250,000 ___________
Prof 6% cum ($100) $500,000......................................
250,000
See text
C oll bonds $260,000 ($500 & [ 1914
5 J-J
170,500 July 119 1 9
$1,000) red on any int d a te /In t. at U nion 8afe D ep . & T rust C o ..
at 102-------------------------------- ( P ortland. M e ., trustee.
Dividends.— 6 % is being paid on preferred stock.
Earnings.— O f controlled properties for 12 m os. ending June 30:
Year—
Gross.
N et (aft. Taxes). Charges.
Surplus.
1916-17..........................$290,053
$86,273
$42,550
$43,723
91.003
39,992
51,011
1 9 1 5 - 16- ...................... 288,490
O F F IC E R S .— P res., William T . C o b b ; T rea s.. F . H . B radford; C lerk,
J. H . Drum m ond: A n d ., E . J. T hom pson. Address, Union M utual B ld g .,
P ortland, M e .— V. 99, p . 1832.
(1) R o c k la n d T h o m a s to n & C am d en S tre e t R y .— An electric road.
In Feb. 1901 consolidated with the K nox Gas Sc Electric C o. and m ade a
new m ortgage for $800,000. from the proceeds o f which the old bond Issues
o f both com panies wore retired. 80% o f the stock Is owned by the M aine
Railways. Light & Power C o.
B U F F A I.O L O C K P O R T & R O C H E S T E R R Y .
ST O C K A N D B O N D S —
Date.
Interest. Outstanding.
M aturity.
O R G A N IZ A T IO N .— Incorporated on June 22 1905 In New Y o rk . Is
Stock $400,000 ($100)..................................................
$400,000
See toxt
a consolidation o f the Albion E lec. R y ., the Albion & L ockport R y . and
1st mortgago $800,000 g o ld / 1901
4 g J-J
800,000 Jan 1 1921
the Albion & Rochester R y . A financial readjustm ent was m ade In Jan.
($500 and $1,000)___c . c p t l l n t . at Union S .D .& T r.O o ., P ortland, trust
1911 whereby the c o .’s bonded debt was reduced from $3,400,000 to $2,
Bonds.— N o sinking fund and bonds cannot bo called.
750,000 and all past-due coupons (first default A ug. 1 1909). incl. the one
Dividends.— Are being paid quarterly at the rate o f 5 % per annum.
due Feb. 1 1911, and all equip, notes were canceled. V. 91, p . 1710.
R O A D .— Operates 23.92 miles o f track from Warren through Thom aston
Allen Sc Peck In c., Syracuso, N . Y ., resigned as Managers on D ec. 1
to R ockland. R ockp ort and Cam den. In Sept. 1901 purchased "O a k 1917, after having operated the line a little over 3 years.
lands,” a park o f 75 acres, for a pleasure resort. 20 pass.. 1 express car.
M a jority or stock has boon deposited with tho Equitable Trust C o.
N . Y ., under voting trust agroemont for 3 years from July 15 1915. f rus- 8 freight cars. 4 work cars, 3 snow plows and 1 com bination car.
E A R N IN G S .— For year end. June 30:
tees, E . R. W ood, T oron to; F . W . R oobllng J r., T renton N . J .; and
Year—
Gross.
N et.
Charges.
Surplus.
W illiam Nottingham , Syracuse.
191 6 - 17...........................$241,255
$70,954
$33,000
$37,354
Default.— Int. on the 1st M . 5 % bonds was again defaulted A ug. I 1910.
1915-16_____ _________ 224.521
75,055
33,002
41,993
See statement b y Pres. Allen and Sec.-Treas. W . W . Foster In V . 103,p .758.
Subsequent coupons also In default. Jan. 1 1917 and subsequent Int. on — V . 72, p . 392; V . 98, p . 1246; V . 99. p . 1833.
2d M . bonds also In default.
(2) O x fo rd E le c tr ic C o .
Fares.— In June 1918 the N . Y . P . S. C om m , denied tho c o .’s applica
O R G A N IZ A T IO N .— Chartered In M e . N o v . 14 1894 as the N orw ay 8c
tion for auth. to charge a 6-cent fare on lines within the city o f Rochester
Paris St. R y . (see this Section for Sept. 1910). N am e changed to above
V . 106, p. 2449. In Aug. 1918 the co. filed a now tariff, cash fares being Jan. 6 1916 and refinanced as shown below . On M arch 29 1910 acquired
raised from 2J4 cents per mile to 3 cents per m ile, ticket fares from 2J4 to the M echanics Falls Elec. L t. C o . , E ntire com m on 3tock owned by M aine
2
cents^ger mile and round trip rates to double the one-w ay rates. V . R y s ., Light & Power C o.
Operates 2.13 miles o f electric railway between N orw ay and Paris; 40-lb.
S T O C K A N D B O N D S—• Date.
Interest. Outstanding. M aturity
T rail: standard gauge. Also does an electric light and power business.
$2,500,000 .....................
Com m on $2,500,000 ($100)......................................
STOCK A N D BON DS—
Date.
Interest. Outstanding. M aturity.
P rof $1,500,000 0 % non-cum ----------------1,500,000 .....................
C om m on stock $50,000 ( $ 1 0 0 ) ..............................
$50,000 .....................
1st mtgo $4,000,000 g o l d . . . f 1904
5 F -A
2,799.000 Fob 11954
P re f6 % n o n -cu m $ 3 0 .0 0 0 ($ 1 0 0 )____
________
30,000 .....................
( $ 1 ,0 0 0 )_____________ c * t f l l h t . at Lincoln T rust C o ., Trustee.
First & ref m tge ($500 a n d / 1910
5 J & J
175,000 Jan 1 1930
8econd m ortgage................ — / 1915
6 J-J
200,000 July 119 2 0
8 1 ,0 0 0 )___________________ (In t. at Union S. D . & T r. C o .. Portland. T r.
(E quitable Trust C o ., Trustee.
E A R N IN G S .— For year ond. June 30 1917 (Incl. M echanics Falls Elec.
Bonds.— 1st M . bonds are subject to call at 110 & accrued int. on any Int.
L t. C o .), gross, $48,798; net, after taxes, $15,319; fixed charges, $8,950;
day on 3 m os.’ notico.
surplus, $ 0 , 3 6 9 . _________
E A R N IN G S .— For years ending June 30:
June 30
Gross
N et (after
Other
Interest,
Balance,
ROM E, GA.
Year—
Earnings.
Taxes).
Incom e. Rentals, &c.
Deficit.
ROME R A IL W A Y & L IG H T C O .—-A trolloy road.
191 7 -1 8 ...............$ 4 4 3 ,9 1 4
$105,466
$3,490
$210,453
$101,497
O R G A N IZ A T IO N .— Incorporated In Georgia on N ov. 30 1900 as suc
112,380
818
199.525
80,327
1 9 1 0 -1 7 ................ 412.682
R O A D .— Operates about 58 miles between Rochester and L ockport. cessor to tho C ity Electric R y . V . 83. p. 1591. Furnishes light and power
to city and private Individuals. Franchises expire 1985; streot railway
Ralls 70 to 80-lb.
O F F IC E R S .— Pres.. R . Ilom o Smith, T oron to; V .-P ., A . S. M uirhead; franchises practically exclusive. In 1910 canceled the old first and consol,
T o ron to; Sec.-Treas. & Gen. M g r., W . W . Foster, R ochester.— V . 105, mortgages and made a new first m ortgage as shown below:
ST O C K A N D B ON DS—
Date.
Interest. Outstanding. >M aturity.
p . 715, 2271; V . 106, p . 1796, 2449, 2755; V. 107, p . 802.
C om m on. $1,000,000 ($100)..............
Q-J
$650,000 J u l y ’ 17 1 %
Pref. $100,000 ($100), 7 % c u m ____
Q -M
100.000
See toxt
R O C H E S T E R & M A N IT O U R R .
6 g A -O
850.000 April 1 1940
O R G A N IZ A T IO N .— Incorporated on A u g. 12 1908. A cquired property o f First m tge, $3,000,000, g o ld / 1916
($500 and $1,0 00 )___c * c p t {I n t . at Spencer Trask Sc C o ., Now Y ork, or
the R ochester Charlotte & M an itou , sold at foreclosure July 21 1908
l
Fidollty Sc Colum bia T r.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding.
M aturity.
Bonds.— Redeemable In whole or part at 105 and Int. on any Int. dato on
Stock $00,000 ( $ 1 0 0 ) .. .__________
__________
$60,000 .................. .. 60 days’ notico. Sinking fun d, 1% o f outstanding bonds annually, began
First m ortgage $60,000 g o ld / 1909
5 g M -N
58.000 M a y 1 1929
O ct. 1 1917. for retirement o f bonds at not exceeding 105 and Int., or
($500 and $1,000)___c * n tf\ In t. at Security Trust C o ., R ochester, trustee
Investment In new properties, tec., against which no bonds m ay ho Issued.
B O N D S .— $2,OO0 bonds remain unissued. N o sink. fun d. Bonds are Remaining $2,150,000 are reserved for not exceeding 80% o f cost or fair
subject to call at 105 and Int. on 8 weeks’ notice.
value o f additional property or eq u ip ., or add'ns. exts., Im pts., & c. under
O F F IC E R S .— P res., Henry W . W edoi; Soc. and T reas., Kendall B . conservative restrictions. V . 103, p . 01.
Castle; S upt., G eo. M . W egm an.— V . 87. p . 545; V. 88. p . 1314.
Dividends.— On com m on in 1909. 2 % ; 1910. 1 % : 1911. 3 % ; 1912. 0 % ;
1913, 6 % . In 1914 and to and Incl. July 1917, 1 % quarterly: nono since.
D lvs. on prof, stock were begun In Sept. 1910.
E A R N IN G S .— For cal. year 1917, grass, $181,709; not, after taxes
M IS S IS S IP P I V A L L E Y R Y . & P O W E R C O .
$60,737. In 1916, gross, $189,790; net, after taxes, $81,472.
O R G A N IZ A T IO N .— Incorp. In Delaware July 1 1915 to take over tho
Property.— Operates 12.1 miles o f streot railway line In R om e, G a ., Incl.
R o ck Island Southern R y ., tho A ledo Term inal R y ., the R ock Island Aloxis extensions to Lindalo and Scales W orks. Standard gauge: 90-lb. girder
R y . and the Edwards River Power C o. (all form erly operated by the Rock and 60 & 70-lb. T rails. Also com plete and well-equipped electric lighting
Island Southern R y .). as per plan o f readjustm ent In V . 101. p. 449. Undor system . Power plant has generating capacity o f 1,750 k. w . (held In rethe plan acquired all the com . and pref. stocks o f these com panies and e rv e ). Has long term contract for power with Georgia R y . St Power C o.
$1,341,200 (out o f $1,873,200) 1st M . bonds o f the R ock Island Southern
O F F IC E R S .— l’res., S. A . Culbertson; V .-P . anu Gen. M g r., 8. S. Bush
R y . and $415,000 Aledo T erm . R y. 1st M . bonds.
Louisville, K y .; S upt.. H . J. Arnold R om o.— V . 103, p. 01, 140.
Default— Interest Funding Plan.— Being In need o f at least $150,000 for
the rehabilitation o f the R ock Island Southern R y . property, and finding It
R O S L Y N , L O N G IS L A N D , N . Y .
Inadvisable to sell additional prior lion bonds In view or the unsettled finan
N EW Y O R K & N O R T H S H O R E T R A C T IO N C O .
cial situation, the M iss. Valley R y. & Pow . C o . entered Into an agreement
O R G A N IZ A T IO N . — Incorporated in New York on A ug. 6 1902 as the
with the holders o f the $532,000 Rock Island Southern R y . bonds not owned,
b y which the tim e o f paym ont of interest on those bonds and the bonds held M lneola R oslyn Sc Port W ashington T raction C o .; name changed to present
b y the M . V. R . & P. C o. will bo extended for 3 years. Tho M . V. R. & P. title A ug. 20 1907 b y order or Supreme C ourt. In M arch 1912 P ublic
C o . being without funds to pay the Interost duo July 1 1917 on Its 1st Sc ref. Service C om m , approved tho making o f a now m tgo. and tho Issuance o f
5 % bonds, holders o f said bonds havo been requested to exchange their $800,000 bonds thereunder; also auth. tho Issuance o f $757,500 additional
coupons for the 3 years beginning July 1 1917 for bonds o f the same Issue, stock (V . 94, p. 698: V . 93, p . 940). Tho now bonds were Issued In April
1914, part o f the proceeds being used to rotlro the $350,000 1st M . bonds
par for par. The unissued Prior Lien bonds are to be canceled. For
further details see V . 105, p. 007.
o f 1907.
Fare Increase.— On June 28 1917 tho P . 8 . C om m ., 2d D lst., authorized
Sale o f Collateral.— The interest and principal due June 1 1917 on the
$266,000 coll, trust notes o f the R . I . Southern R y . remaining unpaid, the an Increase In fare from 10 to 15 cts. between M lneola and Port W ashing
$632,000 1st M . 5% bonds o f that com pany pledged as collateral, wore ton; also granted Increases between other poluts. on the lines In Nassau
sold at foreclosure A ug. 27 1917, presum ably to the com m ittee for the n ote C ounty.
Fare Decision.— On Jan. 9 1918, tho P . S. C om m , for tho 1st D lst.
holders. Com pare V . 105, p . 007.
denied tho co .'s application for an increase in faro from 5 to 7 conts on Its
STOCK A N D BONDS—
Date.
Interest. Outstanding.
Maturity.
lines in Queens Borough, N . Y . C ity , holding that, inasmuch as tho co .
__________ $2,291,060 ____________
C om m on stock $2,500,000____ ______
Preferred stock $2.000.000..........................................
1,079,524 ..................... obtained the consent o f the C ity o f N ew York to tho use o f city streets
only b y agreeing never to charge m oro than 5 cents as Its rato o f faro, the
P rior Lien bonds $300,000 1st f 1915 5 J-J
a b t .175,000
See text
C om m , has no power to authorize an Increase fare unless tho city shall
refunding m ortgago ($100,/ 1915 5 J-J
abt.800.000 July 1 1945
first waive or m odify tho limitation contained In Its franclilso contract
& c .) -------------------------------- c * (I n t . at C olum bia Trust C o .. N . Y ., trustee.
with tho com pany. V. 106, p. 296, 1127. In Sept. 1918 Pros. Stanloy
Rock Island Southern R y.—
declared that operations would bo suspended Sept. 30 1918 unless tho city
First mtge $2,500,000 g($ 1 0 0 )f 1908
6 g J-J
1,873,200 Jan 11947
granted tho co. financial relief. V. 107, p. 1193.
$600 and $1,000)_______ tflC en tra l Trust C o .. C hicago, trustee.
ST O C K A N D B O N D S—
Date.
Interest. Outstanding.
M aturity.
Voting T ru st— The com . and pref. stocks have been deposited In a voting
trust oxplring In 1920. Trustees: Henri O . M oran d, A . O . Chambers, Stock $1,250,000 (550)............................................
$979,350 .....................
800.000 A pr 119 5 4
T . P. G aylord, J, J. Flem ing, J. A . H anley, M . A . W alsh, O . H . W alsh and First m tge $3,000,000g($100.1 1914. 5 A -O
W ill H . Clark.
$ 50 0 and 31,000)_____ c* t f /I n t . at C itizens’ Sav. Sc T r. C o ., O lev ., trust.
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114
[Vol . 107
(7) The co. Is authorized to haul mail, express and freight undor cortaln
Bonds.— Sinking fund created for property, which will revert to Olty o f
New York, at expiration of franchises. Monoys may be used to rotlre conditions.
(8 ) Tho standard of service shall bo prescribed by tho M o. P. S. Comm,
bonds or for acquisition of new property. Subject to call at 102 and lnt.
in its order of M ay 4 1915.
at any lnt. date. Edwin V. Hale, Cleveland. O., Is co-trustee.
(9) Tho co. must pay the unpaid mill tax and lnt. accrued thoroou
KAHN IN OS.— For year ending Juno 30:
Net (after
Other
Interest,
Balance,
(approx. $2,300,000) in 10 annual payments.
(10) Tho co. is to pay ono-half of 1% of its gross receipts In lieu of mill
Year—
Oross.
Taxes).
Income. Rents, &c.
Sur.orDeJ.
tax and all franchise taxes. This tax may be Increased at any time during
1910-17............$158,361
$37,926
$1,710
$18,518
dof.$8.8S2
life of the franchise to not exceeding 3% of gross receipts.
1915-16______ 160.317
48.624
1.179
47.771
sur. 2.032
(11) All net earnings in excess of 7% of tho capital valuo may hereafter
HOAD.—Operates from Flushing to Whltestono, and from Flushlu*
through Rayslde. Douglaston, Kittle Neck. Manha'soc, Roslyn, Mlneola bo required by ordinauco to bo paid to the city as a franchise tax, or may
and VVestbury to llicksvllle, with branch from Roslyn to Port Washington: bo applied by tho Board of Control for tho reduction of faros or capital valuo.
(12) Tho co. is given 12 months from tho final approval of this ordinance
total track. 38 08 miles: 29.42 miles of road. Standard gauge; 70 and 103-lb
girder rail. Cars (motor 19, other 4), 23. Owns power station with two by the city within which to file its acceptanco or six months after tho con
clusion of the war. If tho war should continue longer than 12 months. For
1 ,0 0 0
k w turbines.
OFFICERS.— Pros.. Oeo. A. Stanley. Roslyn: V .-P ., BenJ. A. Hegeman further details, see V. 106, p. 1908.
Pending further developments, various protective committees havo boen
Jr.. N Y. City; Sec. A Oen. M gr., John G. Moran, Roslyn; Treas., George
F. Scofield. Cleveland. O.— V 91, p. 871; V. 03, p. 940, V . 94. p. 698; V . 97 formed as shown below:
Preferred Stockholders' Committee.— L. II. McHenry. Chairman, Louis
p. 1824; V. 101, p. 923; V. 106, p. 290, 1127; V. 107, p. 1193.
ville, Ky.; A. J. Scharf, Secrotary, U. S. Trust Bldg., Louisville. K y .—
V 103, p. 2239.
Committee for First Gen. Mtge. 4s.— Breckinridge Jones, David R. FranR U T L A N D R A I L W A Y . L I Q H T & P O W E R CO .
cN Jr., Allen G. Hoyt. A. II. S. Post. F. IT. Ecker and FI. B. Collins, with
$1,679,100 of the stock Is owned by the General Gas A Electric C o.,
Herd Hardin as Secretary, N. W. corner 4th and Pine Sts., St. Louis. Mo.
which see In our " l b . A Ind.” Soctlon.
Depositaries: Mississippi Valloy Trust C o., St. Louis; Farmers' Ixtan A
ORGAN IZATION .— Is a consolidation In Feb. 1900 of the Rutland Trust Co. of N. Y.; Mercantile Tr. A Dop. C o., Baltimoro; Girard Trust
8 troet Ry.. the People's Gas Light C o., the Vermont Internal Improvement
C o.. Phila. Y. 105. p. 181; V. 106, p. 1578.
Co. and the Chittenden Power Co. In Sept. 1900 acquired the entire
A second committee representing holders of tho 1st Gen. M . 4s has been
$180,000 stock and $120,000 bonds or the Rutland City Electric Co. V. 83. formed, consisting of N. A. McMillan, Pres. St. Louis Union Bank. Chair
p. 020. In March 1908 consolidated with the latter company, thus com
man; Edward Mallinckrodt, M. Kotany, J. llerdnon Smith and Edwin G.
plotiug consolidation of all the Rutland public utilities. V. 80. p. 1044
Merrill, all of St. Louis. Mo. Dooositarios: St. Louis Union Trust Co..
Franchises have been granted by special Acts of Vermont Legislature and St. Louis, and tho Union Trust Co.. N. Y .; sub-depositary. Brown, Shipley
are perpotual
.
A Co., London. V. 105, p. 291. 717; V. 106, p. 1578; V. 107, p. 697.
Fare Increase.— In Nov. 1917 the Vermont P. S. Comm. auth. an Increase
Committee for St. Louis Transit Impt. 5s.— Edwin M. Bulkley, N. Y .,
In fares from 5 to 6 conts for each zone. V. 105, p. 2095.
Chairman; Edwards Whitaker, St. Louis, Vico Chairman: F. J. Lisman,
N. Y.; Charles S. Ludlam, N. Y .; George L. Edwards. St. Louis; W. Lorn#
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity.
Scovil, 25 Broad St., N. Y., Scc’y. Depositaries; Mercantile Trust Co..
Stock *2.000.000 ($100)............................................ $1,700,500
See text
First mortgage $2,000,000/ 1900
5 g M-S
1.989.000 Meh 11940 St. Louis and Bankers Trust C o., N. Y. V. 105, p. 181; V. 106, p. 1578.
Committee fo- St I. A Sub. Ry. Gen. Mtge. 5s.— Herman G. Stlfol, Chair
gold ($1,000) .......... ......c*tln t at Lincoln Trust C o .. N. Y .. Trustee.
Bonds.— Ronds are redeemable at 110 and lnt.. as a whole or In amounts man, Pros. Stlfol-Nlcolaus Invest,mont Co.; A. O. F. Moyer. Sidney 11.
of not less than $50,000, on any lnt. day. Sinking fund began March 1 March, N Y ; William G. Lackey and John I.. Johnston. Depositary:
1916, providing for annual payments Increasing from ) 4 % to 2 % of bonds Mississippi Valley Trust Co. of St. Louis. V 105. p. 291.
Valuation.— For appraisal as of Dec. 31 1917 made for city of St. Louis
out.
by J. E. Allison showing a total reproduction cost of $72,589,141.
Sc*
Dividends.— In 1913. 4% : 1914. 3.35% : 1915, none; 1916, 2>i% .
V. 106, p. 1578.
EARN INGS.— For years ending Dec. 31:
In Mav 1910 the M o. P. S. Comm. auth. tho St. Louis A Suburban Ry.
Cal. Year—
Uross.
Net, aft. Taxes. Fixed Charges.
Surplus.
1917...........................$429,617
$141,674
$1 10,729
$30,945 to issue .$1,000,000 Gon. M . 5s of 1903 to tako up anil pledge under that
1 9 1 6 ........................ 403.474
145,065
107.296
37,769 mortgage the $1.000.000 bonds issued by tho St. Louis A Meramue Ry. Co.
ROAD.— Owns and operates 30.5 miles of track In Rutland and West for refunding Us $1,000,000 1st M . 6 s, which fell due May 8 1916. The
Rutland, extending to Fair Haven and Poultney on New York State lino. $1,000,000 St. L. A Sub. bonds are held In the United Go's, treasury for
future use.— V. 102. p. 2255. The $200,000 Southern Electric 5s maturing
Standard gauge. 60-lb. T rail. 29 cars.
OFFICERS.—Chairman of Hoard, G. Tracy Rogers; Pres., W . S. Bar- Aug. 1 1916. were paid off and a like amount of United Rys. 4s wore Issued
stow; V.-P. & Gen. Mgr., F. S. Nicholson; Clerk A Treas., II. L. Hansen; and placed In treasury.
Decisions. — On Feb. 26 1917 the Missouri Supreme Court held that tho
Asst. Treas., J. P. Campbell; Asst. Clerk, C. N. Wilson.— V. 95, p. 112;
P. S. Comm, had no auth. to compel tho company to oxtend its tracks on
V. 101, p. 1093; V. 105, p. 2095.
streets on which it hold no franchises. Also hold void two sections of tho
city charter conferring upon tho city the power to regulate its public utilities
On Feb. 8 1918 Judgo Dyer in tho U. S./District Court at St. Louis
S T . A L B A N S & S W A N T O N T R A C T I O N C O .— A trolloy road.
dismissed the application for a receiver for tho company by a complaining
O R GAN IZATION .— Incorp. In May 1912 in Vermont as successor to the stockholder on the ground that tho allegations in tho application did not
8 t. Albans Street Ity., sold at foreclosure on Apr. 27 1912
Controls entlro justify a receivership and showed no cense for action. V. 106, p. 716.
street-railway business in 8 t. Albans and Swanton. Chartor permits the
In July 1918 the same plaintiff filed an amended hill of complaint seeking
carrying of baggage, express and mail; also the right to operate street rail the appointment of a receiver, and on Aug. 31 1918 company’s attorneys
ways In Franklin and Chittenden counties. Vermont. Stock authorized, again moved for dismissal. V. 107, p. 907.
Fare Increase.— In May 1918 was auth. by the M o. P. S. Comm, to
$200,000; outstanding, $125,000.
E A R N IN i.S .—Of St. Albans Street R y., for cal. year 1915. gross. increase adult faros to 0 cents effective June 1 1918. At tho end of 1 year
$33,925. In 1914, gross. $34,907. In 1913. gross. $33,777.
the co. must (in accordance with above ordinance) show cause for making
ROAD.— Operates 13 miles of track from Village of St. Albans Bay, on the new rato permanent. V. 106, p. 2124. In granting this ineroase th«
Lake Champlain, to City of St. Albans, and to Swanton. 60 and 70-lb. Comm, held that municipal franchises do not constitute irrevocable con
tracts. leaving States without power to regulate ratos. In spite o f a con
OFFICERS.— Pres., F. A. Persons, Greenfield, Mass.; V .-P ., Fullor C. stitutional-consent clause in Missouri tho Comm, held that it was tholr
Smith. St Albans; Sec., Elmer Johnson, St. Albans; Treas., Walter R. duty under the law to examine tho facts and fix Just and reasonable rates,
notwithstanding franchise terms; and as tho existing rates wore not sufficient
Dame, Clinton, Mass.; Gen. M gr., Geo. A. Murch, St. Albans, Vt.
to permit adequate service, public interost and welfare demanded an in
crease of rates. V. 106, p. 2346. A motion by tho City Council for a
rehearing in tho case was overruled by the Comm, on May 27 1918. See
U N IT E D R A I L W A Y S CO . O P ST. LO U IS .
V. 106, p. 2451. In Juno 1918 tho City Council filed an appeal from th«
Is controlled by North American Co of New York.
decision. V. 106. p. 2759. On Aug. 31 1918 Judgo J. G. Slato in the Colo
O RGAN IZATION .— Incorporated In Missouri on March 11 1898 as the County Circuit Court held that tho Connn. was without jurisdiction to
Central Traction Co., but changed Its name to above on July 10 1899. pass upon the fare question and that tho 0 -cont fare was therefore null and
On Dec 31 1906 absorbed che St. Louis A Suburban Ry.. giving Its pref. void. Chief Justice Bond of the Missouri Hupromo Court has authorized
.
stock, share for share, for the stock of that company. Tho United Rys
the company to issuo a negotiable receipt for 1 cent ponding final decision
guarantees the $4,500,000 gen. mtgo. bonds of the St. L. A Sub. Ry. See by the Missouri Supremo Court. V. 107, p. 1005, 1102. Tho co. has
V. 83. p 39: V 84. p. 105. In 1908 acquired a controlling Interest In the applied to tho M o. P. S. Comm, for a test of a 3-zono system with a 5-cent
Missouri Electric Co., successor to tho St. Louis St. Charles A Western minimum charge in tho central area, the 6 -cont fare in effect sinco June
R R ., which was sold at foreclosure In July 1905.
1 1918 not having produced sufficient revenue.
V. 107, p. 1102.
Tho United Rvs Co. comprises all tho street car llnas in operation In St
Strike— Settlement— Wage Increase.— See V. 106, p. 2346; V. 107, p. 1194.
Louis. The co. was originally leased to the St. Louis Transit C o., but under
Loan by War Finance Corpora ion. — In May 1918 tho War Finance Corp.
a readjustment arranged In Oct. 1904 by Messrs. Brown Bros. A Co. approved a loan to the co. of $3,235,000 for 6 months from Juno 1 1918 at
(V. 79, p. 1333) the lease was canceled and the $17,264,300 stock of that 7 %, tho co. pledging, as security, the entlro Issue of 1 st mtgo. 6 s of th*
company nearly all exchanged for voting trustees’ certificates for common Union Depot RR. Co., tho maturity of which has been oxtendod to Doc. 31
stock of the United Rys. Co. on tho basis of $500 Transit stock for $200 1918; also $800,000 of 3)4% U. S. Liborty bonds. V. 100, p. 2346, 2561.
voting trustees' certificates. Voting trust has expired and common stock
I n terest. Outstanding.
has been Issued for trust certificates.
M a tu r ity .
STOCK AND BONDS—
D ale.
Under this plan the $20,000,000 refund, and impt mtge. bonds of the Stock com $25,000,000 ($ 1 0 0 ;-----............... $24,913,800
St. Louis Transit Co., of which $8,000,000 had been Issued, wore canceled, Stock preforrod 5% cumu
5 Q-J
10,383.200
See text
and in their place the same company Issued $10,000,000 of 5% Improvement
$20,000,000 ($100)............. ____
bonds guar, by the United Rys. Co. o f St. Louis, tills guaranty boing se Gen 1st mtgo $42,000,000 1899 4 g J-J
32,232.000 July 11934
cured by a mortgage on all of that company’s property next In rank to that
($ 1 ,0 0 0 ) gold............... c*tf Iut. at St. Louis Union Trust Co.. Trustee,
of its general mtgo. These Improvement bonds are now the only outstand
uannoi do caiiea.
or at North American Co., New York.
Cannot bo called.
ing security of the Transit Co.
. . „ „
_
Improvement bonds gold/ 1904 5 g A-O
9,790,000 Oct 1 1924
Power.— Power Is purchased from the Union Electric Light A Power Co.
($1,000) St Louis Transit! Int. at Mercantile Tr. Co., St. Louis, Trustee
and tho Electric Co. o f Missouri (successor to the Miss. River Power Dis
C o __________________ c*tfl or at North American Co . New York.
tributing C o.). See V. 106. p. 1451, for futuro roquiromonts, Ac.
Stocks a n d 'B o n d s. — Of the $ 2 0 ,0 0 0 ,0 0 0 authorized preferred stock. $ 0 ,
6 0 3 ,3 0 0 Is hold In tho treasury.
Preferred was listed on the Now York
Universal Transfers.— Effective July 1 1914. V .99 , p. 50.
Franchises.— The city contends that franchises expire as specified in the Stock Exchange on June 1 1 9 0 5 . Of the $ 4 5 ,0 0 0 ,0 0 0 gen. first mortgage
original ordinances. The company contend? that all of these franchises bonds originally authorized, $ 3 ,0 0 0 ,0 0 0 , which hail boon previously re
were extended to 1939 by the St. Louis Transit franchise and to 1948 by served for the purpose of retiring bonds of tho St. Louis A Suburban Sys
the Central Traction franchise. The Rys. Co. has won Its contention In tem, in case of purchase, have beon cancoled. making tho total authorized
the Circuit Court and an appeal Is now pending in tho M o. Supreme Court. Issue now $ 4 2 ,0 0 0 ,0 0 0 , of which $ 9 ,9 7 0 ,0 0 0 aro reserved for the retirement
M ill Tax Decision.—The U S. Supreme Court on April 10 1916 dismissed of underiving lions. Of the amount roportixl outstanding, the company
the company's appeal from the decision In tho Missouri courts which upheld owns $ 1 .9 3 2 .0 0 0 . Tho bonds aro secured by all the stocks of the constitu
tho ordinance by which the city collects a tax of one mill on each passenger ent companies, and by direct mtge. lien upon their property and franchises.
fare. V. 94, p. 418: V. 95. p. 1124; V. 99. p. 1053: V. 100. p. 400; V. 102. In 1903 the gon. mtge. bonds were listed on tho N . Y . and Philadelphia
p. 1437. On June 16 1910 the co. paid In Rill tho $1,839,205 Judgment stock exchanges (see V. 76, p. 9 8 0 ; V. 80, p. 9 9 5 ) . and In April 1906 the
obtained by the city for taxes from 1903 to 1910. with Interest. Judgments St. Louis Transit Co. Impt. bonds wero listed on the N. Y. Stock Exchange.
for taxes since 1910, amounting, with lnt., to about $1,500,000 have not Tho Impt. bonds aro guar., p. A I., by tho Unltod Rys. Co.; $ 2 1 0 ,0 0 0 aro
yet been awarded. V. 103. p. 839.
In treasury.
Franchise Ordinance.— After much dolay and many amendments, an
BOND ISSUES OF CONSTITUENT COMPANIES.
ordinance was passed by tho Municipal Assombly on March 29 1918 and
Lindetl Systetn —
D a te.
In terest. O utstanding.
M a tu rity.
signed by the Mayor on April 10 1918. Tho principal features of this
Ltndoll Ry 1st M $1,500,000/ 1891 4>4 g F-A $1,500.000 Aug 1 1921
ordinance are as follows:
gold ($1.000)_____c*ArntflInterost payable in Now York and St. Louis.
(1) Tho franchise rights of tho United Railways Co. are validated until
Couip'n II U D A M T ls t M f
1893 5 g J-J
1.000.000 July 1 1923
April 12 1948.
, , , ,
($1,000) g (extond'd)c*ntflint, at St. Louis Un. Tr. C o., Trustee.
(2) The co. Is required to reduce Its outstanding mortgage indebtedness
U n ion D epot System —
and capital stock to tho capital value established in tho ordinance, $60,000.
Union Depot RR Cons M tgo/ 1893 6 g J-D
3.500.000Doc 31 1918
0 0 0 plus tho cost of any additions or betterments made to the property
$3,500,000 gold_____c*ntf\lnt. at Miss. Valloy Trust Co., St. Louis.
after tho taking effect of this ordlnanco. This capital value Is subject to
N atiim al System —
a valuation to be made by the Mo. P. S. Comm.
4)4 M -N
1.948.000 May 1 1920
(3) A Board of Control, consisting of one momber appointed by tho city St Louis RR first mtge curf 1890
$2,000,000 ($ 1 .0 0 0 )-.-n tf{In t. at Miss. Valley Trust Co.. St. Louis.
and one by the co.. shall pass upon all proposed ext's, add'ns and bettor1892 4)4 g J-J
1 ,0 0 0 .0 0 0 July 11922
ments, and on all charges to capital account. In the event of disagreement, Cass Ave A Fair Grounds 1st
extended M $2,000,000 g lilt, at Northern Trust C o .. Chicago, trustee.
a third temporary member shall bo appointed by tho St. Louis Court of
($ 1 .000) sinking fund guar
and St. Louis Union Trust C o., St. Louis.
Appeals.
prln.A hit (Nat R y )_.c*n tf l
(4) The city has tho right, after tho expiration of ton years, and at any
St. L ou is A Sub. System —
five-year period thereafter, to purchase tho railway system at its then capital
St.Louis A Suburban cons M f 1891 5 g F-A
$2,000,000 Feb 1 1921
value.
$2.000.000 g ($1,000) c * n tf( Interost at Amor. Trust Co.. Boston, Trus(5) At tho expiration of tho franchise, if tho city grants a new franchise to
1 too; redeem, at 105 any interest date.
another party, tho city shall require this grantee to purchaso tho property
St L A Sub gen mtge $7,500.-/ 1903
5 g A-O
4.500.000 April 1 1923
of tho co. at its then capital valuo.
0 0 0 gold ($1,000) g u a r.c*tflin t, at Miss. Val. Tr. C o .. St. Louis. Trustee
(6 ) Tho rate of fare is established within tho city limits at 5 cents for
Of tho St. Louis A Sub. Ry. gon. mtge. for $7,500,001), $2,000,000 aro re
adults and 2 ) 4 cents for children, with tho provision that if. and when, tho
M o. P. S. Comm, or other legally constituted rato-making authority shall served to retire prior Hens and $1,000,000 aro In treasury. V. 70, p. 332.
havo tho jurisdiction to lawfully alter thoso ratos, then the rato of faro shall The St. Louis A Merauiac River iu April 1903 made a mortgage securing
bo as ordered by such authority. Freo transfers are roquirod uudor the $3 ,0 0 0 ,0 0 0 bonds, all of which havo boen deposited with the trustees
as additional security under the St. Louis A Suburban general inertsamo conditions.
RUTLAND, VT.
ST. ALBANS, VT.
ST. LOUIS, MO.
S k pt ., 1918.]
gage of 1903. St. Louis IUt. bonds originally were 5% bonds, maturing
May 1 1010 but they wore extended for 10 years to May 1 1920 at 4 K 3 .
but were extended 10 years to Aug. 1 1921 at 4 K % • V. 93, p. 106.
Cass Avo. & Fair Grounds 1st M . were originally 6 s maturing July 1
1912, but they were oxtonded for 10 years at 4 % ■ $200,000 have
been redeemed. V 91. p. 913, 1509, 1701. Comp n Heights Un. Dep. A
Mer. Term. 1st M . were originally 6 s, due July 1 1913. but wore oxtonded
10 years at 6 % . V 90 . P 1774. Rod. at.10254land Int. on bO day. notice:
») & 1 crU I)v United Rvs. St. Louis Union Co., trustee. Of tlio Union
cii*
Depot It It. bonds reported outstanding $265,000 are held in treasury. IhLs
issue originally matured on Juno 1 1918 but was extended to Dec. 31 1J18.
DmdmiU.— First dlv., of l H % on prof., April 10 1900 and the sa.ne
amount quar. to July 10 1910. Incl.; none since. V. 91 p. 718: V 93, P- 591
ItO A I)__On Jan. 1 1918 owned total o f 457.79 miles of track (Including
the St. Louis A Suburban), of which 345^)1 m. are in the city and 112.73
' '*K o u7i*ME*nV —* Uis 1,398 passenger cars, 9 special cars, 10 mall and 7
1
express cars, 8 snowplows and 33 snow-sweepers, 2 electric locomotives and
163 service cars of various kinds. Total, 1.689.
R E PO RT— For report for 1917. see V. 106, p. 1 4 5 4 .^
^
Revenue pass. carr!ed-_262,564,865 253,046,586 232,7/1.390 248.040,033
Transfer passengers^ _ " l 4 0 735 831 136,005.566 124,043,205 127,444.829
Qroslearnlngs
! : 11 .$13 125,559 $12,641,294 $11,681,200 $12,450,925
Derfucl— Oper"expenses. $7 625,827 $6,953,125 $6,837,982 $7,354,806
Depreciation! .
. . 1 575,067
1,516,955
1.337.309
1,289.930
------------------------------- ^’o ro (5
1
821,684
’, ',n
TA 7(1/
-7
739,539
767,794
853,*61
Taxes.
Other income.
$3,071,504
94,702
$3,349,530
82.589
$2,766,370
98,484
$3,038,395
87,901
Interest on bonds.
$.3,166,206
2,523,230
$3,432,119
2,544.614
$2,804,854
2.599,327
$3,126,296
2,618,255
Surplus .....................
$642,976
$887,505
$265,527
$508,041
OFFICERS.— Pres. A Gen. M gr.. Richard McCulloch- V.-P., Murray
Carleton- Sec & 'Proas., Jamas Adkins; Asst. Sec., J. Vv. Samuel; Asst.
Treas , Frank A Gannon: Auditor, H . P. Taylor. Directors: J. I. Rcggs
Murray Carleton, II. S. Priest, D. R. Francis Jr.. Richard McCulloch.
A C Brown A. L. Shapleigh, F. O. Watts, A. J. Siegel, II. C. Colo and
J K.‘ Newman— V. 106, p. 823. 1232, 1454, 1578, 1690, i0 0 1 ,2124, 2346,
2451. 2561, 2759; V. 107, p. 292. 697, 907, 1005, 1102, 1194.
(1) M is so ur i E lectric R R .
,
Controlled by United Rys. Co. o f St. Louis.
O R G A N IZA TIO N .—Incorporated In July 1908 In Missouri and took
over property of St. Louis St. Charles A Western R R ., sold at foreclosure
sale Julv 24 1905. on behalf or a syndicate. Stock, $1,000,000, all out
standing. A $ 1 ,000,000 mtgo. has boon made to Mercantile Trust Co. of St.
Louis as trustee, of which $700,000 are outstanding. Company operates
about’ 20 miles of track between St. Louis and St. Charles. Gauge 4 ft.
10 In 60 and 70-lb. T and girder rail. I’ res., Richard McCulloch.— V.
87. p. 226, 480.
_____
S T . LO U IS & S T . C H A R L E S B R I D G E C O .
ORGAN IZATION .— Ineoiporated on Doc. 22 1908 as successor to the
St Charles A St. Louis County Bridge Co., whose property was bid In at
foreclosure sale on Fob. 29 1908, for the bondholders, at $300,000. V. 8 6 ,
p. 669. The Missouri Electric pays the Bridge Co. 5 cts. for oach passougcr
crossing the bridge.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
"(3500j ? 1909
5 g J-J
*300 loOO Jan" ' l" 1929
jfold___ _____________ c* . IAmerican Trust C o., trustoe.
Bonds. — Subject to call at 105.
PROPERTY —Bridge across Missouri Rlvor 2./00 ft. long, botweon
Citv of St. Charles ami St. Louis County .r was oponed April 22 1904.
OFFICERS.— Pres., Sam B. Jeffries: Sec. & Treas., W. V. Dolahunt.
— V. 80. p. 609: V. 87. p. 227.: V. 8 8 . p. 56.
SALT LAKE CITY, UTAH.
UTAH P O W E R & L I O H T C O .
Controlled through ownership of all the outstanding common and 2d pref.
stocks, except directors' shares, by the Utah Securities Corporation, which
see In our “ Railway and Industrial" Section.
ORGAN IZATION .— Incorp. In Maine Sept. 6 1912. Charter unlimited.
Owns all the bonds and capital stock, except directors’ shares of Western
Colo. Power Co. and all the stock, except directors’ shares, of Utah L t. &
T rac.C o,. Leases for 99 years from Jan. 1 1015 the elec, light and power and
gas properties o f the latter. With Its controlled companies operates In hd
extensive territory In Utah. Southeastern Idaho and Southwestern Colo
rado serving more than 100 communities. Including Salt Lake C ity . Ogden
Provo Logan, Park City, American fo rk , Eureka, Bingham and Lehi,
Utah; Idaho Falls. Rexburg, Preston and Montpelier, Idaho, and Durango,
Tollurlde, Montrose, Ouray and Delta, Colorado: total population served
estimated at more than 290.000. Supplies power to the Salt Lake &
Ogden i i y . Co.. Salt Lake A Utali RR. and the Ogden Logan & Idaho R R .,
and numerous Industrial enterprises.
F ranchises are satisfactory. In Salt Lake City franchise extends to
1 9 5 5 ; in Ogden to 1965; Provo, 1940; Logan, 1936; Bingham, 1953: Lolu,
1962, and in Preston, 1956. Other less important franchises expire at
various dates.
In Oct. 1916 tho auth. amount of common stock was Increased from $30,
000 000 to $35,000,000. and of 1st pref. stock from $5,000,000 to $15,000,
000’. V. 103, p. 1597.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common stock ($35,000,000). . . . . . . . . . . .
$30,000,000 ___________
Pref stock 7% cum ($15,000.000)—
7 Q-J
7,400,000 O et,’ 18.1K
2 d Drof stock ($ 1 0 .0 0 0 .0 0 0 ) ............ ..
.......
4,937,000 ............. . . .
Secured notes 2-year $5,000,-? 1917 O g M
2.050,000 Aug 1 1919
000 ($1 000).................... c*\Int. at Electric Bond A Share C o.. N. Y.
1st M ($190,000,000) gold! 1914 5 g F-A
20.596,000 Feb 11944
($1,000) .................... c*&r IGuaranty Trust C o., N. Y ., trustee.
Stock. — 7% cumulative preferred stock is redeemable at 115 and accrued
dividends. The second preferred stock as a whole or in part may cease
to be subordinate to tho preferred stock upon vote of the directors, whenover net earnings for twelve consecutive months within tho fourteen
months Immediately preceding any application are 2V times the dlv. re<j
qulremonts on the oref. stock then outstanding, and the additional pref.
stock to he Issued in exchange for the 2 d pref. stock. *2.900,000 of the 2 d
pref. stock had been exchange for first pref. stock as of Sopt. 1 1918.
Bonds.— $2,817,000 bonds are pledged as security for notes and $123,000
held In treasury (not Included hi amount outstanding). Remaining bonds
may bo issued at par only for 80% of cost of permanent Improvements,
extensions or additions when annual net earnings are twice the interest
on bonds outstanding and those proposed to be issued. Redeemable at
105 and int. on any int. date after Feb. 1 1919 on 4 weeks notice. Sinking
fund began Dec. 31 1916 as follows: 1916 to 1918, 1 % of bonds out; 1919
to 1933, 2% ; 1934 to 1943, 2 'A%- Listed on N. Y . Stock Exchange. Notes
aro secured by pledge of $2,847,000 1st M . bonds not included in table
above. They aro callable on 4 weeks’ notice in blocks of not less than
$500,000 at "100 'A and Int. V. 105, P- 608.
Dividends.— 7 % is being paid on 1st pref. stock
EARN IN G S— For years ending Juno 30 (Incl. Y estern Colo. Power C o.):
\
June 30
Gross
h i t (after
Other
Bond i n ’ . Other In t.
.
Balance,
Y ear —
D arnin gs.
T a x es).
In c .
D isci
(N et)
Surplus
1917-18--S5,438,003 $2,813,913 $98,083 $1,013,744 $637,800 $1,260,092
1916-17
4,746,595 2,473,357 90,912
961,855 363,293 1,239,121
PROPERTY, Ac.— Gen "rating capacity, hydro-electric. 124.907 k.w.;
steam, 25.965 k.w.; additional Installations of 26.500 k.w capacity under
construction. As of Doc. 31 1917. 2,076 mill's of hlgh-voliago transmission
tower and polo linos and 1,268 miles of electric distributing lines
Gas
holder capacity. 210.000 cn ft.; gas mains, 37 miles. Customers. 63,827.
K.w.h. feeder output, 12 mos. end. Dec. 31 1917, 502.183.000; artificial
gas output. 63,820,000 eu. rt.
„ _
_
„
„„
OFFICERS— Pres., D. C. Jackling; V .-P., Geo. E. Claflin— V. 105,
p. 60S, 1210; V. 106. p. 819, 2764; V. 107, p. 612.
(1) Utah Light & T raction Co.
ORGAN IZATION .— Incorporated under tho laws of Utah. Sopt. 18
1914. Tho company Is a consolidation of tho Utah Light & Railway C o..
115
ELECTRIC RAILW AYS
and tho Salt Lake Light A Trac. Co. (see those companies on page 116 of
the Sent. 1914 "Electric Ry. Section” ). Tho Utah Power A Light Co.
owns ail the stock of this company except directors' shares, and has leased
for 99 years from Jan. 1 1915 the electric light and power and gas properties,
leaving only the traction property to be directly operated. V. 100. p.
734
Franchise In Salt Lake City expires In 1955
Tho $12,471,300 1st A Ref. M . bond* outstanding are all owned by the
Oregon Short Line UK., except $335,300 held In Treasury.
Fare Increases.— In Jan. 1918 was auth. by tho Utah P. U. Comm, to
discontinue tho sale of 4-cent commutation tickets and to chargo a straight
5-cont faro. Several minor fare modifications were also authorized. V. 106,
p. 398. Effective Aug. 15 1918, the co. was auth. to chargo a 6 -cent fare,
20 tickets to bo sold for $ 1 . V. 107, p. 698, 1102.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
$ 1 .0 0 0 .0 0 0
_
_______
Capital stock $10.000,000_ _____
12.151.000 Oct 1 1944
First A rof M 'auth amt un-f 1914
5 g A-O
limited) ($1,000, $500 andllnt. at 71 Bway. Bankers Trust C o., New
$100)red at 105Alnt g s f.c * l York, Trustee.
486 000 Jan 2 1934
Utah L A Ry 1st con M $10.-1 1904
5 g J-J
000.000 gold ($1,000) — -c * {ln t. at 71 Bwav.. N. Y . Equitable Trust
1 C/O N Y Trustee
Utah Lt A P Prior Lien___ } 1900’
5 g J-J
' 744 000 Jan 1 1930
$750,000 g ($1,000)_ c*tf{In t. at 71 Bway. Central Trust Co N. Y .,
_
Trustee.
4 g J-J
1.113.000 Jan 1 1930
Utah Lt A Power con M 1900
Equitable Trust C o.,
$4,500,000 g ($500)— c*tf Int. at 71 Bway
N. Y ., Trustee.
5 g J-J
.
1,440.000 July 1 1921
Cons Ity & P 1st M $3,000, 1901
.. .
000 gold ($1.000)-.c*A rtf Int. at Equitable Tr. C o., N. Y ., Trustee.
Bonds.—Sufficient 1st A ref. bonds or 1914 aro rosorvod to provide for
underlying llenB (all closed Issues). Present Issue known as Series “ A ”
bonds. Sinking fund of 1% of outstanding bonds from 1917 to 1919: 2%
1920 to 1934: 21-$%, 1935 to 1943. Sinking fund may be used to redeem
bonds at not more than 105 or to reimburse the co. for cash cost of additi
onal properties, Ac.
Other
Int. Chges., Balance
EARNINGS. Gross
Net, after
Income. &c. (Net).
Surplus.
Cal. Year—
Earnings.
Taxes.
$859,740
$7,644
$365,212
1916................ $1,455,081 $502,172
808.791
12,262
359,279
1915 ............. 1,405,184
481.774
.
ROAD.— Tho consol, company owns and operates 145 miles of track.
Including double track, sidings. A c., connecting Salt Lake City, Sandy.
Midvale, Murray. Holliday and Bountiful. Has 237 passenger and ser
vice cars including 131 double-truck P-A-Y-E cars.
OFFICERS— Pres., O. W. Whitley: V.-P*.. O. J. Salisbury, Wm. Darbco, D. F. M cOco and C. E. Groesbeck: Gen. M gr.. TI. F. Dicks.— V. 104,
p. 2012, 2642; V. 105, p. 820; V. 106. p. 398; V. 107, p. 698, 1102.
B A M B E R G E R
ELE C TR IC
R A ILR O A D .
ORGAN IZATION .— Incorporated in Utah as the Salt Lake A Ogden
Ry. Name changed to present title in Sept. 1917. On May .28 1910
began operating cars by electricity; prior to that date road was operated
by steam. Shortest of franchises expires In 1955. Practically entire mileago Is on private right of way.
Salt Lake Terminal Co.—Owns 50% of the stock of the Salt Lake 1 ermlnal
Co. and with tho Salt Lake A Utah R R ., which owns the other 50% of
stock, operates the property under a 50-year lease. These two companies
Jointly and severally guar. Its 1st M . bonds p. & 1. See under Salt Lake
A Utah R R . and In V. 101. p. 1371.
STOCK AND BONDS— Dale.
Interest.
Outstanding.
Maturity.
Common $1.000,000...............................................
$1,000,000 ....... ............
Prof $500,000 (6 % non-cum)...............................
500.000 - ............... First mtge $2,000,000 gold? 1909 5 g F-A
1.501.000 Feb 1 1934
($1,000) _____________ c*( Int. at Harris Tr. A Sav. Bk.. Chic.. Trustee.
Bonds.— First mtge. bonds are subj. to call at 105 and Int. on and after
Feb. 1 1914. Remaining bonds can be Issued under certain restrictions
for extensions ami addition*.
EARNINGS— For vear endin? Dec. 31 1917. gross, $509,796: net, after
taxes, $220,871. In 1916, gross, $1j 4.171; net. after taxes. $191,445. In
1915, gross, $414,516; net. after taxes, $178,678.
ROAD.— Operates a high-speed lnterurban railway, 35K miles, botwoen
Salt Lake City and Ogdon; total trackage, 69 miles. 18 motor cars, 2
electric locomotives and 1 work car. New terminal In Ogden for use of this
company and the Ogden Logan A Idaho RR. was completed Jan. 1 1915.
Powbi Ik purchased from the Utah Power A Light Co.
OFFICERS.— Pres., Julian M . Bamberger; V .-P., J. B. Bean; Sec.,
E. A. Vail; Treas., Simon Bamberger; Aud., W. E. Jones.— V. 102, p. 2167.
U T A H -ID A H O
C E N T R A L
RR.
ORGANIZATION.— Incorp. in Utah Oct 17 1914 as the Ogden Logan
A Idaho R R . as a consolidation of the Ogden Rapid Transit Co. and the
Logan Rapid Transit Co., with $5,000,000 auth. stock. Of the new stock
2H shares were exchanged for one share of the Ogden Rapid Transit Co.
($500,000 auth.) and IK shares for each 10 shares of the Logan Rapid
Transit stock. Name changed to present title on Jan. 1 1918.
A terminal In Ogden for the use of this company and the Salt Lake A
Ogdon Ry. was completed Jan. 1 1915.
STOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity.
Stock $5.000,050.....................................................
32,379 sh.......................
Ogden Rap Tr 1st M (gold)J 1909 5 g J-J
$965,000 Jan 1 1929
(V 8 8 . p 1062; V 99. p 6 7 5 )-lln t. at Ogden Sav. Bank, Trustee.
First mtgo $10,000,000 gold? 1915 6 g J-J2
3.000,000 Jan 2 1935
($500 and $1.000)___ c*tf|Int. at Ogden 8 avlngs Bank. Trustee.
Bonds.— Remaining 1st M . bonds may be issued at such rate (not exceed
ing 6 %) as the directors may determine, as follows: $750,000 for corporate
purposes of the company and remaining $6,250,000 for 75% of the cost
of oxts., add'ns. A c ., under certain restrictions. Subject to call at 102 and
Int. after Jan. 2 1916 on 60 days' notice. Sinking fund of 1 K % yearly from
1920 to 1924 2% from 1925 to 1929 and 2 K % from 1030 to 1034
EARNINGS.— For vear ending Dec. 31 1916, gross, $640,744; net (after
$25,574 taxes). $144,471. In 1915. gross, $370,203; net (after $34,113
taxes), $59,860.
,
_
' .
ROAD.— Opcr. 96 miles of railway connecting Huntsville, Ogden.
Brigham City, Wellsville and Logan. Utah, and Preston, Idaho. The
extension from Wellsville. Utah, via Logan to Preston, Idaho, was placed
In operation In March 1915. and tho link between Wellsville and Brigham
City was completed and operation over tho wholo system begun Oct. 14
1915. Contracts have been awarded. It Is stated, for extensions from
Ogdon to Harrisville, Utah, and from Hot Springs to Brigham City, Utah.
22 miles. Power Is purchased from the Utah Power A Lt. Co.
OFFICERS. — Pres , M. S Browning: 1st V.-P., L. R. Eccles; 2d V.-P.
Joseph Snowcrort; Treas., R . B. Porter; Sec., Royal Eccles; Gen. M gr.,
W. A Whitney— V. 106. p. 191.
SA! T I AKP A UTAH RAILROAD.
ORGANIZATION.— Incorp. in Me. In 1912. Road was formally opened
between Salt Lake City and Provo the last week of Aug. 1914. although
trains were placed in operation July 24 1911. Line was extended from Provo
to Sprlngvllle In the fall of 1915 and on to Spanish Fork and Pavsou In
Jan. and M ay 1916. Branch fro » Granger to Magna, a distance of about
9 miles, was completed Oct. 10 1917.
Franchises extend to 1960 in Utah
County and in Provo, to 1962 in Salt Lake City and County, to 2010 in
Lehi City, American Fork and Pleasant Grove, and to 2012 in Springville,
Spanish Fork and Payson; remainder on private right-of-way.
Owns 50% or the $150,000 stock (auth. $1,000,000) of tne Salt Lake
Terminal Co (V m i, p. 1371). the other 50% being owned bv the Salt
Lake A Ogden Ry. (now Bamberger Electric R R .). The Terminal Co. is
operated by these two companies under a 50-year lease running to Dec. 31
Fares.— In Sept. 1918 the co. applied to the Utah P. U. Comm, for auth.
to chargo the sarao rates as steam railroads. V. 107, p. 1102. _
Maturity.
Interest. Oulstanittnt
STOCK AND B O N D S Date.
$3,000,000
Coin, stock $3,000,000 ($100)...........
1 930.000 ...................
Pref 7% cum S2,000,090 ($ 1 0 0 )-----1.250.000 April 1 1944
6 g A-O
1st mtgo $10,600,000 gold) 1914
__________
($1,000. $500 A S100).c*tf Int. at First Nat. . Bank N. Y ., or Cont. A
Com. Tr. A Sav. Bank, Chicago, Trustee.
Redeemable at 102 A In t..
6 g J-D
350,000 June 1 1935
Salt Lake Term Co 1st M ‘ 1915
$ 1 ,0 0 0 ,0 0 0 gold ($ 1 ,0 0 0 Int. at Bankers’ Trust Co.. N. V.. or Inter
national Tr. Co.. Denver, Trustee.
$500 A $100.......... o*tf
_
_
Bonds.— Remaining bonds may be Issued only under certain re
strictions. The $i ,250.000 bond* outstanding bear 6 % Interest, remainder
will bear such rates not exceeding 6 % as tnay be fixed at time of Issue. Sink
ing fund of 1% of bonds out 1919 to 1923. 1 A % 1924 to 1933 and 2% 1934
to 1943. All bonds may bo called at 102 A Int. and replaced by a like
Se p t ., 191S.]
ELECTRIC RAILWAY
amount bearing a lower rate. V. 100, p. 230. The Salt Lake Term, bonds
are unconditionally guar., p. A I., jointly and severally, by the Salt Lake A
Utah UR. and Salt Lake A Ogdon Uy. (now Bamberger Electric R R .).
Callable on any hit. date on 35 days’ notice at 102 and int. Sinking fund
1% o f bonds Issued rrom 1920 to 1924: 1)4% in 1925-29. and 2% In 1930-34.
Additional bonds may be issued for 80% o f cost o f new property or for exts.
and lmpts. For description of bonds and property, see V. 101, p. 1371.
EARNINGS.— For year ending Dec. 31 1917, gross earnings, $478,926:
net, after taxes, $152,034: Int. and deproc., $106,978: net Income, $45,036.
In 1916, gross oarnings were $392,347: net, after taxos, $141,580. Interest
and depreciation, $113,292; net income, $28,288.
R OAD.—Operates from Salt Lake City south to Payson, about 67 miles,
and a branch lino from Granger to Magna (about 9 miles); also about 1 mile
of single track of the Salt Lako Terminal Co. trades in Salt Lake City and
about 2 miles of single track street railway in Provo. 75 and 85-lb. rail;
standard gauge. 15 intorurbau pass, cars, 4 street railway cars, 1 combi
nation gas motor car, 3 electric locomotives, 3 express and 37 freight cars
and 31 service cars. Power is purchased under long-timo contract from
Utah Power & Light Co.
OFFICERS. -Pres , \V. C. Orem; V .-P ., J. G. Bcrryhill; V.-P., Henry
I. Moore; Sec. A Treas., F. M . Orem; Aud., Joe. It. Brown.— V. 102. p.
438, 801, 2107; V. 107, p. 1102.
117
Decision.— For decision granting the Great Western Pow. Co. permission
to enter the territory already served by Pac. Gas & Elec. Co. see V. 94, p.
1764. In Nov. 1915. however, the RR. Comm, sustained the petition of the
company opposing tho entrance of the Great Western Pow. Co. Into a part
of Contra Costa County where the former was already giving service.
Fuel Conservation.— This company, the Great Western Power Co. and
tho Sierra & San Francisco Power C o., serving 38 counties in Northern
and Central California, have entered upon an agreement for the conserva
tion of fuel oil by which the companies^ steam and electric plants are oper
ated as a single unit, this plan to continue for the duration of tho war and
during such further time as may bo deemed in the best Interests of the
public. V. 106, p. 608. This co., the Northern Calif. Power Co. and the
Oalif.-Oregon Power Co. have agreed that power from the Klamath River
plant shall be delivered at San Francisco. Bay points, thus conserving
$480,000 worth of fuel oil annually. This agreement, signed June 13 1918,
extends over a period of 10 years; the work of inter-connecting the lines,
costing about $<50,000, will be paid for to the extent of $200,000 by the
Pacific Gas & Elec. C o., and the remainder will be borne by the other two
participants. Transmission lines will be more than 300 miles in length.
V. 106, p. 1578, 2649.
Stock Dividend.— The Cal. R R . Comm. In M ay 1915 auth. the company
to Issue $1,926,558 common stock held in treasury to holders of its common
stock as a 6% div. by way of reimbursement for net earnings applied to the
redemption of Its bonds through sinking funds. Payment was made In two
equal installments on July 15 and Dec. 15 1915. V. 100, p. 1919. See also
SAN A N T O N IO , T E X .
remarks in annual report. V. 101, p. 299. Application to Issue $1,021,100
S A N A N T O N IO P U B L IC S E R V IC E C O .
additional common stock as a further stock div. of 3% was denied In April
E n t i r o s t o r k owned by t h e A m e r i c a n L i g h t A T r a c t i o n O o .
1916. V. 102, p. 1437.
O R G A N I Z A T I O N . — I n c o r p . In T e x a s S e p t . 6 1 9 1 7 t o t a k e o v e r a n d
The Cal RR. Comm, on July 1 1916 approved a stipulation filed by the
o p e r a t e th e p r o p e r tie s o f th e S a n A n t o n io G a s A E le c t r ic C o . a n d th e S a n
co. In which lt agreed to set aside out of Income during the next seven years
A n t o n io T r a c t io n C o ., b o t h fo r m e r ly c o n t r o lle d b y th e S o u th e r n L ig h t A
for conservation o f Its assets and the protection of Its stockholders and bond
T r a c t io n C o ., w h o s e a ffa ir s w e re w o u n d u p .
T h e n e w c o m p a n y la a u t h . t o
holders the sum of $7,000,000, as follows: For the cal. year 1916, $800,000;
c o n s t r u c t a s y s t e m o f in t o r u r b a u e le c t r ic r a ilw a y s o u t o f S a n A n t o n io , a n d
1917 to 1921 $1,000.000 yearly: 1922. $1,200,000. The funds so set aside
I t I t r e p o r t e d w ill b u il d a li n e b e t w e e n S a n A n t o n i o a n d A u s t i n , a b o u t 8 5
are to remain uncapltallzed. The company may apply against the fore
m ile s .
Fares.— I n S e p t . 1 9 1 8 a p p l i e d t o t h e c i t y a u t h o r i t i e s f o r p e r m i s s i o n t o going payment the payments made Into sinking funds. V. 103. p. 239.
See V .-P . Britton's itatement a* to dividends. A c., In V. 103, p. 239.
c h a r g e e ith e r a 6 -c e n t . fa r o (w it h t h e e x is t in g t r a n s fe r a r r a n g e m e n t s ) o r a
In Jan. 1917 $3,060,000 additional gen. & ref. 5s were sold, proceeds be
5 - c c n t fa r o w ith n o tr a n s fe r s . V . 1 0 7 , j). 1 1 0 2 .
ing used for acquisition of Oro Electric Corp. properties, for funds advanced
STOCK A N D B O N D S —
Date.
Interest. Outstanding. Maturity. to pay off underlying bonds and for extensions and Improvements
S t o c k , $ 4 , 7 0 0 , 0 0 0 ( ,■■100)............................................._ .............. $ 4 , 7 0 0 , 0 0 0
In Feb. 1918 the Cal. RR. Comm, refused to grant auth. to Issue $3,
1 s t A c o n s o l, m o r t g a g e ($ 2 0 ,1 1 9 1 7
5 g M -S
2 .8 2 5 ,0 0 0 S e p t 1 1 9 6 7
000,000 of bonds for lmpts., A c., but permitted the co. to use $771,348
0 0 0 ,0 0 0 g o ld ( $ 1 , 0 0 0 ) - . . . j B a n k e r s T r u s t C o . , N . Y . , T r u s t e e .
from past sales of bonds to reimburse the treasury for expenditures already
8 a n A n t o n i o T r ie - $ 9 8 4 ,0 0 0 1 1 9 0 8
5 M -S
9 8 4 ,0 0 0 S e p t 1 1 9 4 9
made. V. 106, p. 715. Compare V. 105, p. 2456.
1 s t m o r t g i g c g o l d ..................... ( N e w Y o r k T r u s t C o . , t r u s t e e .
In Aug. 1918 applied to the Calif. RR. Comm, for auth. to issue and sell
S a n A n t o n io G a s A E le c t r ic / 1 9 0 8
5 M -S
9 8 4 ,0 0 0 S e p t 1 1 9 4 9
boforo Jan. 1 1919, $5,000,000 gen. S ref. mtgo. bonds at not loss than 85,
c
$ 9 8 4 , 0 0 0 l s t . V I .< ( $ 5 0 0 ) c * t f 1 I n t e r e s t a t N o w Y o r k T r u s t C o . , t r u s t e e .
or $5,000,000 first pref. stock at not less than 82)4, and to sell $376,000
O f t h e 1st & c o n s o l , m t g e . b o n d s $ 1 ,9 6 8 ,0 0 0 a r e r e s e r v e d t o r e t ir e u n d e r
first prof, stock, the unsold remainder of an Issue of $2,500,000 auth. on
ly in g b o n d s .
I h e y a r o c a lla b le o n a n y in te r e s t d a t e a t 1 0 5 .
Jan. 3 1916. V. 107, p. 803.
B o n d i.— B o t h th e S a n A n t o n io T r a c . b o n d s a n d th e S a n A n t o n io G a s A
STOCK AND BONDS—
Date.
E le c , b o n d s w e re is s u e d t o r e t ir e u n d e r ly in g b o n d s .
V . 88, p . 687 G as &
Interest. Outstanding. Maturity.
E l e c , b o n d s a r o r e d e e m , a t 1 0 5 & I n t. o n 6 w e e k s ' n o t ic o . (S e o V . 101 p . 8 5 1 .)
Com $100,000,000 ($100).................
Q-J 15
$34,004,058
See text
R O A D . - — O w n s a n d o p e r a t e s 8 8 m . o f s in g le t r a c k in c i t y o f S a u A n t o n io .
First prof $50,000,000 (6%
Quar
O F F I C E R S . - P r e s . , E m e r s o n M c M I llln ; V .- P .. P h ilip L e h m a n ; S e c .
cum) ($100)....................................
24.771,293 Aug 18. D4
A T r e a s ., i t . C . J o n e s .— V . 1 0 5 , p . 1 2 1 0 ; V . 1 0 6 , p . 1 9 1 .
2d pref 6% cum $10,000,0001
($ 100)--..........................------------Q-F 15
76.300 A u g '18. 1)4
Gen S ref M ($150,000,000) f_1911
c
5s J-J
33.042.000 Jan 1 1942
gold sinking fund (see' Bankers Tr. Co., N . Y ., and O. Ellinghouse,
SAN DIEG O , CAL.
trustees. Int. in N. Y. or San Francisco.
t e x t )____________ c*Ar*tf
S A N D I E G O E L E C T R I C R Y .— A tr o llo y r o a d .
Cal Gas & Elec Corp gen M S 1903
c
5 g M-S
4,507.000 Mch 1 1933
O R G A N I Z A T I O N . A c . — B e g a n o p e r a t i o n In 1 8 9 2 , a n d In M a r c h 1 8 9 8
coll tr $10,000,000 gold Interest at Mercantile Trust C o., Sits Fran
p u r c h a s e d C itiz e n s T r a c t io n C o . a t fo r e c lo s u r e s a le .
I n 1 9 0 5 s o ld Its e l e c
cisco, Trustee.
($1,000) sinking fund.c*tf
t r ic p o w e r b u s in e s s t o a n e w c o m p a n y — th e U n ite d L ig h t , F u e l & P o w e r C o .
Calif Gas & Elec Corp unlfy'g 1907
5 g M -N
19.505.000 Nov 1 1937
V . 8 1 . p . 6 5 9 . In 1 9 0 8 p u r c h a s e d th e e le c t r ic lin e o f t h e C o r o n a d o R R .
In
and refunding mtge $45, Union Tr. C o.. San Fran., Tr. Int. at office
1 9 0 9 a c q u ir e d ih o S o u t h P a r k S E a s t S id e R y .
c
S to c k w as In crea sed N o v .
000,000 gold_______c&r tf I of co., San Fr., or National CLy C o.,N .Y .
1 9 0 7 fr o m $ 5 0 0 ,0 0 0 t o $ 5 ,0 0 0 ,0 0 0 .
Bay Counties Power Co 1st M f 1900
5 g M-S
1.216.000 Sept 1 1930
STOCK A N D B O N D S —
Date.
Interest. Outstanding. Maturitu.
$2,250,000 gold ($1,000) tf]Interest at Mercantile Trust C o., San FranS t o c k $ 5 . 0 0 0 , 0 0 0 ..................................................................................$ 1 . 2 5 0 .0 0 ( 5
. . . . .
I cisco, trustee, or National City C o.,N .Y .
G e n 1 s t li e n ;vl S 1 0 . 0 0 0 . 0 0 0 f 1 9 1 5
5 g J -J
3 ,8 1 2 .0 0 0 J a n
1 1955
Bay Counties Power Co 2d M / 1901
6 g A-O
533.000 April 1 1931
g o l d s f ( $ 1 . 0 0 0 ) _______ c * A r j l u t . a t U n i o n T r u s t O o . , H a n F r a n c i s c o
$750,000 gold ($1,000)-. tf (in t. at Union Tr. C o.. San Francisco, T his .
l i e d , a t 102 a rt J a n 1 19201
tru stee, or N a t. B a n k o f C o m m e r c e N . y !
Nevada Co Elec 1st M n tf6
A-O
171,000 Oct 11928
Bonds.— F i r s t $ 5 , 0 0 0 , 0 0 0 b o n d s b e a r I n t e r e s t a t 5 % ; r a t e o f I n t e r e s t o n
Yuba Elec Power 1st M n tf
6
J-D
179.000 June 1 1929
r e m a i n i n g $ 5 , 0 0 0 , 0 0 0 t o b e d e t e r m i n e d a t t i m e o f Is u a n c e , b u t n o t t o e x
Oal Central Gas A Elec C of 1901
5 g F-A
675.000 Aug 1 1931
ceed 6 % .
Sinking fund p r o v i d e s f o r r e t i r e m e n t o f e n t i r o I s s u e a t m a t u r i t y
first mortgage $1,000.000] Interest at Mercantile Trust C o., San FranV . 9 9 , p . 1 2 2 . I 131
*
gold ($1,000) sink fund n tfl cisco. Trustee.
E A R N I N G S .— F o r y e a r s e n d in g J u n e 3 0 :
Sacramento Elec Gas & R yj 1897 5 g M -N
2,117,000 Nov 1 1927
Year—
Gross.
Net, after Taxes. Oth.Inc. Deductions. Surnlvs
first mortgage $2,500,000] Interest at Mercantile Trust Co., San Fran.,
1 9 1 5 - 1 6 . .............. $ 1 , 0 1 6 , 4 0 5
$ 2 9 1 ,0 1 1
$ 1 6 ,5 7 7
$ 2 2 7 ,2 2 7
$ 8 0 361
gold ($1,000)_______ c .n t f i or Guaranty Trust C o., New York.
1 9 1 4 -1 5 . . .
1 ,0 0 8 ,6 9 3
2 1 1 ,2 1 3
9 ,2 6 3
1 9 8 .0 4 3
22 433
Central Elec Ry first mtgef 1892
6 g J-D
114,000 June 1 1918
R O A D . — O w n s a n d o p e r a t e s r a i l w a y s y s t e m In S a n D i e g o a n d C o r o n a d o
$400,000 ($1,000 S $5001
c
($25,000 due yearly) to June 1 1922
a g g r e g a t in g 7 4 .0 4 m ile s o r t r a c k . I n c lu d in g 2 7 .0 2 m ile s o f s e c o n d t r a c k a n d
gold__________________ ntf lint, at Mercantile Tr. C o., San Francisco,
1 .2 4 m ile s s id in g s .
S ta n d a r d g a u g e 6 0 -lb . T r a il a n d 1 1 4 -lb . T r i l b y .
H as
[ or Union Trust C o., New York.
g e n e r a t i n g c a p a c i t y o f 7 , 2 0 0 it. w
Standard Elec Co 1st M $5,- 1899
6 g M-S
2,122.300 Sept 11939
O F F I C E R S . - P r e s . , J . D . S p r e c k o ls ; V .- P . & M a n . D i r ., W m . C la y t o n 000,000 guar prln S Int by Int. at Sav. Un. Bk. S Tr. C o.. 8. Fr.. trusc
c
S e c ., C la u s S p r o c k lo s ; G e n . C o u n s e l, R e a d G . D ilw o r t h ; T r e a s , C la u s
Cal Gas A Elec Corp_ n tfl tee, and Crocker Nat. Bk., San Francisco.
_
S p r e c k le s ; G e n . S u p t ., B . M . W a r n e r ; G e n . A u d ., A . I I . K a y s e r — V
83
Blue Lakes Water 1st mtgef 1893
6 M-S 15
713.000 Mar 15 1938
p . 380; V. 85, p. 1144; V . 99, p . 122, 675, 1131.
’
$5,000,000_________ n tf lin t, paid In N. Y ., San Fran, and London.
United Gas A Elec Co 1st M l 1902 5 g J-J
1,460,000 July 11932
$2,000,000 g($1.000)sf.c*tf Mercantile Trust Co.. San Fran.. Trustee.
SAN FR AN C ISC O , CAL.
Valley Counties Power C of 1902 5 g M -N
1,869,000 M ay 1 1930
P A C I F I C G A S & E L E C T R I C C O . — (See Map. page 1 1 6 . )
rirst mortgage $2,500,000] Interest at Mercantile Trust C o., San Fran.,
gold ($1,000) sink fum Ltf [Trustee, or at U. S. Mtge. A Tr. Co.. N. Y.
O R G A N I Z A T I O N . — I n c o r p o r a t e d in C a li f o r n ia o n O c t . 10 1 9 0 5 .
Own*
In a b s o lu t e fe e t h e p r o p e r t ie s f o r m e r ly o w n e d b y C a lif o r n ia G a s S E le c .
c
8o Yuba Water Co cons MJ 1893 6 g J-J
1,488,000 July 1 1923
C o r p ., C a lifo r n ia C e n t r a l G a s & E le c . C o . , F r e s n o G a s & E le c . L t C o
$1,500,000 g ($1,000). .n t fl Int. at Farmers' L. S Tr Co.. N. Y ., trustee.
c
Cent Cal El Co mtge $5,000,-/ 1902
5 g M -N See text
May 1 1933
V a ll e jo G a s C o . , S a n F r a n c is c o G a s & E le c . C o ., M u t u a l E le c . L t
C o”
M e t r o p o l i t a n L t , & l ’ o w . C o . , S u b u r b a n L t . Sc P o w . C o . a n d L o s G a t o s I c e ’
090 gold ($1.000)______t flln t. at Madison Trust C o.. N Y .. trustee.
Suburban Light S Powerf 1908 6 F-A
c
222.000 Aug 1 1938
G a s Sc E l e c . C o . ; S o . S a n F r a n c i s c o L t . Sc P o w . C o . ; L i v e r m o r e W a t e r &
mtge ($500). No sinking] Int. at office of company. Ashland Bank
P o w . C o . ; U n i t e d W a t e r Sc P o w e r C o . ; C o n t r a C o s t a E l . L t . & P o w . C o •
fu n d ________________ c*tf ( of Savings, Oakland, Trustee.
L iv e O a k & E n c in a l L t . & P o w . C o .; E . D . N . L e h o D is t r ib u t in g S y s t e m :
1903 4)4 g M -N
6.941.000 Nov I 1933
L e o n a r d T r y o r D ls tr lb . S y s t e m ; S e b a s t o p o l L t . , W a te r & P o w . C o
D
O • 8 F G A El gen mtge $10,
000,000 g ($1,000 each).tf Int. at Union Trust C o., Sau Fran., Trustee.
G ille n , P a c ific G a s In a p t. O o ., E d is o n L t . & P o w . C o ., M o u n t S h a sta
Pac Gas Impt mtge gold 1900
4 g Q-M
499.000 Sept 1 1930
P o w . C o . a n d R e d w o o d M fr s . C o . D ls tr lb . S y s te m ; W e s t S a c r a m e n to
($1,000 each) sink funantf Interest at Union Trust Co., San Francisco.
E le c . C o .
O n A p r il l 191 7 t o o k o v e r th e p u b lic u t ilit y p r o p e r tie s o f th e
Edison L A P 1st mtge gold 1891
6 g Q-F3
623.000 Nov 3 1921
O r o E le c t r ic C o r p . a n d s u b s id ia r ie s .
A l s o o w n s in f e e t h e f o l l o w i n g c o m
($1,000 e a c h ).......... . .n t f Interest at office. San Francisco.
p a n i e s , w h i c h w e r e f o r m e r l y o w n e d b y C a l i f o r n i a G a s Sc E l e c t r i c C o r p o r a
Mutual Electric Light Co 1904
t io n :
5 J-D
183,000 June l 1934
first mortgage ($1.000)ctf Int. at Mercantile Trust C o., San Fran., or
Bay Counties Power Co.
San Mateo Power Co.
, United States Mtge. A Trust C o.. N. Y.
Berkeley Electric Lighting Oo.
South Yuba Water Co.
5 J-D
1.171.000 Dec 11941
Blue Lakes Water Co.
Standard Electric Oo. o f California. Metrop Gas Corp ($500) .c * tf 1911
Sinking fund $25,000 per Int. at office of company. Mercantile Trust
Central California Electric Co.
Stockton Water Co.
annum.
Oakland Gas Light S Heat Co.
c
C o., San Francisco Trustee.
United Gas & Electric Co.
Livermore Wat A Pow 1st M -----Sacramento ---------- ------- & Ry. Co. Valley Counties Power Co.
Electric. Gas
6 J-D
20.500 Sept 1 1922
.
.
($500)..............................._c . Union Trust Co., San Fran.. Trustee.
__ Franchises In over 176 cities and towns, it Is claimed, are perpetual, the
6 F-A
33,000 Foo. 1 1927
u . S. Supremo Court on April 6 1914 having ruled that all franchises of Orovillo Lt A Power Co 1st/ 1902
M $50,000 ($500)_______ ciCailf. Safe Dep. S Tr. Co.. San Fr., trustee.
c
public service corporations within tho State of California obtained prior to
Oct. 10 Mill, were of perpetual duration and could not be altered.
The amounts of bonds reported as outstanding in table above are those in
to r assessment on stock, see V. 85, p. 163, 725.
he hands of the public.
In July D M the Issuance of $12,500,000 1st prof, stock (auth.,$50,000,000)
Stock.—$31.696,867 com. stock In addition to amount
at $82 50 per share for tinpts., exts., refunding, A c., was authorized. The ing Is owned by subsidiary companies. Stock Is pref. asreported outstand
divs.
old prof, stock ($10,000,000 auth. and outstanding) became 2d pref. and the The 2d pref. stock Is convertible Into 1st pref stock at to prln. and 1.025
auth. amount of com. was reduced from $150,000,000 to $100,000,000. shares of 1st pref. for each share of 2d pref. V 98. p. 1846. the rate of
All but $76,300
The 2d pref. stock is convertible since July 1 1916 into 102)4 % of 1st pref. thad boon converted as of Doc. 31 191 <. In June 1918 applied to the Calif.
Employees of the company and consumers were also given the privilege of RR. Comm, for auth. to Issue an amount of first pref. stock sufficient to
subscribing for the now stock. See further details of plan, Ac., In V. 98 retire the 2d pref. stock still outstanding, when the holders thereof present
p. 1846; V. 99, p. 121. In Oct. 1915 subscription price or unsold portion tho shares for conversion. V. 106, p. 2649.
advanced to 87)$. In Jan. 1916 tho R R . Comm. auth. the issuance of
Bonds—General and Refunding Mortgage.— Of the $116,113,000 bonds
$2,500,000 additional pref. stock. In Aug. 1918 tho Cal. RR. Coram.
auth. tho co. to sell tho 3,760 shares remaining unsold at $82 50 per share. unissued, $46 328.800 reserved to retire underlying bonds, $68,814,200
V. 106, p. 1462. Subscriptions aro now confined to consumers and em for future additions, betterments and Improvements at 90% of cost under
ployees.
conservative restrictions. $1,000,000 are In treasury, of which $875,000
Gas Rate Decision.— On Oct. 9 1917 tho Cal. RR. Comm, fixed tho rate deposited as security for surety bond In rate cases. $815,000 have been can
Coupon, $J,000; registered, $1,000,
for gas In tho city at a maximum o f 85 cents per l .000 cu. ft. The co. celed by sinking fund. Denom.:payable in London, Berlin. Amsterdam,
and $10,000. Interest also
had sought to charge a maximum price o f $1 per 1.000. V. 105. p. 1618. $5,000and Genova at £6.2.9, 105 marks, 62 guilders or 129.50 francs, re
Paris
Compare V. 98. p. 1609; V. 99, p. 271: V. 101, p. 449.
as
In Oct. 1917 applied to Cal. R lt. Comm, for authority to increase gas spectively. at Rod.anda whole (but not In part) Jan. 1 1937 or any int. date
thereafter
par
also red. at
Int.
rates to an average or 12)4% over present rates In all Its districts except days’ notice in blocksInt.; not less than105 and Int. on any havedate on 60
of
$o00,000. Bonds
a sinking
San Francisco. V. 105. p. 1618,
fund of 1% per annum of face amount of all underlying bonds and bonus of
Fares.— In Aug. 1918 tho co. asked the P. S. Comm, to invostigato faro
V. 103,
conditions In Hacramonto and to mako tho Investigation tho basis of now this Issue. See V. 94, p. 351. Listed on N. Y. Stock Exchange
p. 1211; V. 10u. p. 1523.
rates which will not tho co. a fair return. V. 107, p. 906.
California Gas & Electric Corporation Unifying and Refunding Mortgage
Water Rates.— In May 1918 was auth. to chargo for water In Placer 5% Bonds of 1907 are a lien upon all the property and franchises of the
County a rate of $1 25 per month for residence consumption, with a mini California Gas S Electric Corporation now owned or hereafter acquired.
c
mum chargo of $1 per motor.
V. 86, p. 1168. They are also a lien (through a supplementary mtgo. exe
Electric Rales.— In July 1918 was auth. by tho Calif. RR. Comm, to in- cuted by the Pacific Gas & Electric C o.), prior to the bond Issues of the
crea > rates temporarily because of abnormal conditions. _ V. 107,p. 182, Pacific Gas A Electric Co., upon all the properties of that'Company except
i
the properties of the San Fianclsco Gas A Electric C o., but includes tne
118
ELECTRIC RAILWAYS
[Vol . 107.
B E P O B T . — F o r c a le n d a r y o a r s (1 9 1 7 r o p o r t in V . 1 0 7 , p . 1 8 8 ):
properties of the California Central Gas & Electric Co., Frosno Gas & Elec
O p e r a tin g
N e t {a fte r
O th er
B on d lilt.,
P refer red
B a l. f o r
tric Lighting Co., anil the Vallejo Gas Co., subject, however, to underlying C a t .
Y ea r.
R e v e n u e s . T a x .,D t p . , A c . I n c o m e . D i s c 'l , A c . D iv id e n d s . C o m m o n .
mortgages of the California Central Gas & Elec. Tho bond* were issued
under four heads— " A ,” " B ,” " C ” and “ D ." Sories " A " amounts to 1 9 1 7 . $ 1 9 , 8 1 3 , 3 8 1 $ 6 , 9 5 8 , 6 9 0 $ 5 0 8 , 3 4 7 $ 4 , 2 8 5 , 9 5 7 $ 1 , 4 7 1 , 1 0 5 $ 1 , 7 0 9 , 9 7 5
S30.2S2.000, of which 38,203.000 wore Issued to retire an equal amount of 1 9 1 6 . 1 8 . 6 1 5 , 4 9 7 7 , 8 0 6 . 6 1 6 5 0 9 , 8 8 6 4 , 0 1 8 . 1 2 0 1 , 3 7 4 , 6 3 8 2 , 9 2 3 , 7 4 4
underlying bonds which have been deposited under this mortgage. Series 1 9 1 5 - 1 8 , 5 3 0 . 3 0 1 7 , 9 4 4 , 7 0 8 4 1 3 , 8 7 9 4 , 1 4 5 . 8 2 1 1 , 0 0 0 , 7 1 7 3 , 2 1 2 , 0 4 9
“ B ” amounts to 33,055.000 and were issued at 90 to refund existing obli
P R O P E R T Y . — D o e s th e g a s a n d e le c t r ic lig h t in g , h e a tin g a n d p o w e r
gations. Series " C f' and " D ” aggregate 311,663.000, $9,255,000 of which b u s i n e s s a n d s e l l s w a t e r f o r p o w e r , i r r i g a t i o n a n d d o m e s t i c p u r p o s e s in
wore issued. Mortgage has been closer! to further issue. V. 86, p. 980. C e n t r a l C a l i f o r n i a , i n c l u d i n g t h e c i t i e s o f S a n F r a n c i s c o , O a k l a n d , S a c r a
The bonds are subject to call at 110 and interest upon any Interest date after m e n t o , S a n J o s e a n d 1 7 4 o t h e r c o m m u n i t i e s . O p e r a t i o n s e x t o n d i n t o 3 2
Nov. 1 1912 upon 60 days' notice. V. 88, p. 1199. Tho issuance of addi c o u n t i e s , c o m p r i s i n g a n a r e a o f 3 7 , 7 7 5 s q u a r e m i l e s , c o n t a i n i n g a p o p u l a t i o n
tional underlying bonds is prohibited by terms of mortgage. An agreement In 1 9 1 7 o f t . 8 0 3 , 1 0 8 . S y s t e m i n c l u d e s 1 7 h y d r o - e l e c t r i c a n d s t e a m g e n
was executed Jan. 21 1908 providing that all California Gas & Electric gen. e r a t i n g s t a t i o n s w i t h 2 7 0 , 6 4 3 h . p . c a p a c i t y , 1 . 6 4 0 m i l e s o f t r a n s m i s s i o n
mtge. and collateral trust bondholders depositing bonds with Mercantile l i n e s w i t h 4 , 5 0 0 m i l e s o f d i s t r i b u t i o n l i n e s a n d 1 1 2 . 5 m i l e s o f u n d e r g r o u n d
Trust Co. of San Francisco would be entitled to receive an equal amount of d i s t r i b u t i o n : 7 0 r e s e r v o i r s w i t h s t o r a g e c a p a c i t y o f 6 . 3 9 8 . 1 7 6 , 7 7 3 c u . f t . ,
unifying and refunding bonds, and In addition an amount of common stock 1 8 g a s p l a n t s , 2 , 8 7 8 . 6 m i l e s o f m a i n s , s u p p l y i n g 5 3 c o m m u n i t i e s . N u m b e r
of the Pacific Gas A Elec, equal to 25% o f bonds so deposited. V. 86. p
o f c o n s u m e r s J u n o 3 0 1 9 1 8 , g a s , 2 4 7 .2 2 0 : e l e c t r i c , 2 0 0 ,6 1 5 ; w a t e r , 1 2 .9 2 4 :
980. $4,492,000 gen. mtge. and coll, trust bonds were so dojposited
s t e a m , 4 4 7 ; t o t a l , 4 6 1 ,2 0 6 ; e n tir e street ra ilw a y sy s tem o f S a c r a m e n to . 4 3 .9
Agreement expired Feb. 1 1909. The mtge. provides that a sinking fund m i l e s o f t r a c k . O w n s 6 6 c a r e . P a s s e n g e r s c a r r i e d I n 1 9 1 7 , 1 0 , 0 1 6 , 9 5 3 ,
be created and maintained as follows: 1912 to 1916 incl.. $450,000 per a g a i n s t 1 0 , 0 4 4 , 4 2 8 In 1 9 1 6 .
annum; 1917 to 1921 Incl.. $550,000 per annum; 1922 to 1926 Incl., 3700,000
In N o v . 1913 th e fir s t p la n t (D r u m N o . 1) o f th o c o m p r e h e n s iv e S o u th
per annum; 1927 to 1936 Incl., $900,000 per annum. This sinking fund Y u b a s y s t e m o f h y d r o - e l e c t r i c p l a n t s w a s p u t In s u c c e s s f u l o p e r a t i o n . T h e
will be applied as far as necessary toward making the sinking fund payments s y s t e m c o n t e m p l a t e s a n u l t i m a t e d e v e l o p m e n t o f 1 9 0 . 0 0 0 n . p . , o f w h i c h
required by underlying mortgages, and tho balance to tho purchase for tho D r u m N o . 1 p l a n t h a s a p e a k c a p a c i t y o f 3 3 , 0 0 0 h . p . S e e V . 9 7 , p . 1 5 8 4 .
sinking fund of the bonds issued under the new mortgage. $1,008,000 unify T h e H a l s e y a n d W i s e p o w e r h o u s e s , w i t h 3 3 . 3 3 3 h . p . c a p a c i t y , w e r e c o m
ing and refunding bonds are hold in sinking fund; S51.000 in treasury
p l e t e d o a r l y in 1 9 1 7 a n d 2 h y d r o e l e c t r i c p l a n t s w i t h a c a p a c i t y o f 4 , 0 2 1 h . p .
Bonds are listed on Now York Stock Exchange. V. 90, p. 1677; V. 93. p
w e r e p u r c h a s e d , w h ile la t e r in t h o s a m e y e a r t h o S p a u ld in g p la n t w it h a
1191: V. 95. p. 1332.
5 .0 2 7 h .p . c a p a c i t y w a s c o m p le t e d .
E a r l y in 1 9 1 6 c o m p l e t e d t h e i n s t a ll a
California Gas A Electric Corporation 310.000,000 General Mortgage and t i o n o f t w o s u b m a r i n e c a b l e s a c r o s s S a n F r a n c i s c o B a y t o d e l i v e r c u r r e n t
Collateral Trust Bonds are subject to call on any Interest dato at 110 and Int. t o S a n F r a n c i s c o . A c . , f r o m t h e l a r g o w a t e r - p o w e r p l a n t s i n t h e m o u n t a i n s ,
on four weeks' notice. $4,492,000 were deposited undor tho unifying and t o s u p p l e m e n t t h e o u t p u t o f t h e c o m p a n y ’ s o t h e r p l a n t s . V . 1 0 2 , p . 8 0 1 .
O F F I C E R S .— P r o * .. F . G . D r u m ; V .- P . A G e n . M g r ., J o h n A . B r it t o n ;
refunding mtge. Sinking fund for 5 years, beginning March 1 1904. .3150,
V .-P
A T r e a s ., A
F
M o c k e n b e a m e r : S e c . St A s s t . T r e a s . , D . I f . F o o t e ;
000 per annum: from 1909 to 1913. .3200.000 per annum; 1914 to 1918
A s s t . S e c ., C h a s . L . B a r r e t t .— V . 1 0 6 , p . 1 4 6 2 , 1 5 7 8 , 2 0 1 1 , 2 1 2 3 , 2B 49;
$250,000 per annum: 1919 to 1923, $300,000 per annum; 1924 to 1928
$350,000 per annum; 1929 to 1933, $400,000 nor annum. The said sinking V . 1 0 7 , p . 7 7 , 1 7 6 , 1 8 2 , 1 8 8 , 4 0 2 , 6 0 4 , 8 0 3 , 9 0 6 .
fund will provide for the sinking funds of the Bay Counties Power Co..
California Central Gas & Elec. Co., Sacramento Elec. Gas & By. Co. and
C A L I F O R N I A S T R E E T C AB LE .
O R G A N I Z A T I O N .— C h a rte re d F o b . 8 1 8 77.
A n n u a l m o o t in g t h o t h ir d
Valley Counties Power C o., and is to bo used initially In redeeming the
bonds of the constituent cirmpanies the remainder for the new $10,000,000 W e d n e s d a y In J a n u a r y . F r a n c h i s e e x p i r e s in F e b . 1 9 2 9 .
issue. The bonds redeemed shall be kept alive and boar Interest except
STO CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
where tho mortgages of the constituent companies provide for their cancella S t o c k ( p a r $ 1 0 0 ) __________________ ________
M o n th ly
$ 1 ,0 0 0 ,0 0 0
S eo tox t
tion; in tho event of tho purchase of any of the gen. mtge. and coll, trust F i r s t m o r t g a g e $ 3 8 4 , 0 0 0 ($ 1 , - f 1 9 1 5
6 g J -J
3 0 9 .0 0 0
S o r ia lly
$10,000,000 bonds, these also are to bo kept allvo; but should any of the
0 0 0 ) r e d l i t 5 y n a t 1 0 5 ,{ I n t . a t o f f i c e o f c o m p a n y .
U n io n T r u s t C o .
latter bo called for payment at 110, the bonds so called are to bo canceled
t h e r e a f t e r a t 1 0 3 _____________ \
o f S a n F r a n c is c o . T r u s te o .
$1,001,000 of this and $516,000 of underlying Issues aro now alive In this
B o n d s .— $ 3 8 4 ,0 0 0 b o n d s w e r e is s u e d t o r e t ir e $ 9 0 0 ,0 0 0 b o n d s d u o J a n . 1
sinking fund. The general mortgage and collateral trust bonds aro secured 1 9 1 5 ( o f w h i c h $ 5 1 6 , 0 0 0 w o r e i n t r e a s u r y , l e a v i n g $ 3 8 4 , 0 0 0 t o b o r e f u n d e d ) .
by deposit (now secured by physical properties of those companies which T h e n o w b o n d * a r o d u o In 1 2 a n n u a l I n s t a l l m e n t s b e g i n n i n g J a n . 1 1 9 1 6 a n d
havo been doeded to tho corporation) of practically all tho capital stocks of e n d i n g J a n . 1 1 9 2 7 . $ 7 5 , 0 0 0 h a v e b e e n r e t i r e d . N o . o f b o n d s m a t u r i n g
the subsidiary companies, namely, all of the 36,000 shares of Bay Counties In 1 9 1 9 Is 2 7 . t h e n s u c c e s s i v e l y t h e r e a f t e r , 2 9 , 3 0 , 3 2 . 3 3 . 3 7 . 3 9 . a n d in
Power Co.; all of tho 15,000 shares Calif. Cent. Gas A Elec. Co.; all of the 1 9 2 7 , 4 6
V . 9 9 . p . 1831, 1672, 1596.
30,000 shares of Oakland Gas Lt. St lit. Co.; 18.581 out of 18.584 shares of
D i v i d e n d s w e r e 5 0 c e n t s m o n t h l y , b u t in A u g . 1 9 0 2 w e r e i n c r e a s e d t o 7 5
Sacramento Elec. Gas A By. Co.; all of the 4.898 shares of Fresno Gas S El. c e n t s m o n t h l y , a n d in N o v . 1 9 0 4 t o 9 0 c e n t s m o n t h l y . O n a c c o u n t o f
c
Lt. Co.; all of the 50,000 shares of the Standard Elec. Co.; all of the 22,286 e a r t h q u a k e a n d f i r e , n o d i v i d o n d s w o r e p a i d f r o m A p r i l 1 9 0 6 t o S e p t . 1 9 0 8 ,
shares of tho United Gas & Elec. C o., and all of the 1,000 shares of stock of w h e n d i v i d o n d s w e r e r e s u m e d a t 5 0 c e n t s p e r s h a r e u p t o M a y 1 9 0 9 , w h e n
the Vallejo Gas Co.; also 39.999 out of 40,000 shares o f South Yuba Water 6 0 c . p e r s h a r e w a s p a i d : s a m e r a t e m o n t h l y s i n c e .
Co. stock. In addition, tho Bay Counties Power Co. owns tho entire
E A R N I N G S .— F o r c a l. y e a r s 191 7 a n d 191 6 a n d y e a r s o n d in g J u n e 3 0 :
$2,500,000 stock of the Valley Counties Power C o., and the United Gas &
Y ea r—
G ross.
N e t , a f t . T a x e s . O th .I n c .
D ed u c tio n s .
S u r p lu s .
Electric Co. owns tho $1,000,000 stock of tho San Mateo Power Co.
$ 1 7 5 ,4 0 8 D r . $ 2 1 ,1 0 0
$ 2 5 ,0 0 0 * 1 2 9 ,3 0 8
$ .......
9 1 7 ......................... 4 6 0 0 6 7
Bag Counties Power Co. $2,250,000 First Mortgage Bonds.— $350,000 are 1 9 1 6 .......................... $ 3 9 3 ., 5 0 7
7 4 .2 3 8
1
1 2 0 ,8 3 8
D r .2 1 ,6 0 0
2 5 ,0 0 0
reserved to retire $179,000 Yuba Electric Power bonds and 3171,000 1 9 1 5 - 1 6 .................. 4 3 1 , 2 3 6
2 3 .'4 7 8
1 4 3 ,0 0 9
1 5 3 ,7 2 5
1 2 ,7 6 2
Nevada Electric Power bonds. A sinking fund on the first 5s of 1% of
4
91
7
1 4 7 ,8 1 0
- 5
outstanding bonds per annum commenced in 1905 and ran until Juno 1 1 9 1 4O 1A D................. r a 2e5s. 5 1 1 m i l e s1 5o0f . 0t9r6 c k o n 3 5 . ) 44 1m i l e s o3f 8s. 0 r2e7e t .
R
.— O p e
t
a
5
t
1910, on which dato and for four years thereafter 1)4% of bonds out; on
O F F I C E R S . — P r e s ., J . H e n r y M e y e r ; V . - P . . .!. C . C o l e m a n : 2 d V . - P . ,
June 1 1915 and for four years thereafter 2% o f bonds out; on Juno 1 1920 J a s . W . H a r r i s ; S e c . , G e o . A . H a r o ; T r e e s . , J . U . M o y e r St C o . ; A u d . ,
and for four years thereafter 2 )4 % of bonds out: on Juno 1 1925 and there
o
after 3% of bonds outstanding. $676,000 of this Issue alive In sinking C h a.s . P .. S9t9 ,n e ;. S1u8p t1. ., J . W . H a r r i s . O f f i c e , 1 0 6 1 U y d o S t . , S a n F r a n o R c e ,
p
3
fund. Tho second 6s are subject to call at any time at 105. $77,000 are C a l — V
held In a sinking fund. $135,000 were redeemed Jan. 1 1918.
UNITED RAILWAYS INVESTMENT CO.
California Central Gas A Electric Co. First Mortgage Bonds.— A sinking
O R G A N I Z A T I O N . — I n c o r p o r a t e d in N e w J e r s e y F o b . 17 1 9 0 2 .
In
fund of 2% o f bonds outstanding commenced on Aug. 1 1902, but bonds S e p t . 1 9 0 6 f i l e d a n a m e n d m e n t t o I t s c h a r t e r c h a n g i n g It* n a m e f r o m U n i t e d
are not subject to call. .$325,000 bonds are In sinking fund.
R a i l w a y * I n v . C o . o f S a n F r a n c i s c o t o it s p r o i e n t t i t l e .
V . 83. p. 689.
Sacramento Electric, Gas A Railway Co. Bonds.— Of tho $2,500,000 auth O w n s d i r e c t l y o r i n d i r e c t l y t h r o u g h s t o c k o w n e r s h i p a l l t h e o u t s t a n d i n g
orized. $115,000 are reserved for Central Elec. By. firsts: $205,000 bonds c o m m o n a n d p r e f . i t o c k a n d $ 1 6 5 , 9 0 0 o f t h e 7 % p r i o r p r e f e r e n c e s t o c k o f
havo been retired. $63,000 alive in sinking fund. By terms of a supple t h o C a l i f o r n i a B y . & P o w e r C o . A l s o o w n s t h e s t o c k o f T h e R a i l r o a d s St
mental mtgo. the right to call all or any of the bonds at 103 has been re P o w o r D e v e l o p m e n t C o . V . 8 9 , p . 2 8 7 , 5 2 9 , 8 4 8 .
O n M a y 6 1 9 1 0 s h a r e h o ld e r s a p p r o v e d a p la n ( V . 9 0 . p . 1 1 0 3 ) t o in e r o a s e
scinded: but this does not affect the right to retire bonds as follows: From
1902 to 1906, Incl.. $5,000 per annum; 1907 to 1911, incl., $10,000 per an c o m m o n s t o c k f r o m $ 2 5 , 0 0 0 , 0 0 0 t o $ 3 1 , 0 0 0 , 0 0 0 a n d t o i s s u e $ 6 , 0 0 0 , 0 0 0 6 %
num; 1912 tol916, Incl., $20,000 per annum; 1917 to !9 2 l, incl., $30,000 per b o n d s , c o n v e r t i b l e I n t o c o m m o n s t o c k a t p a r , a n d a l s o a u t h o r i z e d d i r e c t o r s
t o u t iliz e a p o r t io n o f u n is s u e d p r o f , s t o c k t o a d ju s t a r r e a r s o f d iv i d e n d s
annum; 1922 to 1926, incl., $40,000 per annum. Total, $525,000.
a c c r u e d o r t o a c c r u e o n o u t s t a n d in g p r o f, u p t o a n d in c lu d in g O c t . 1 1 9 1 1 .
Standard Electric Co. of California First Mortgage Bonds.— They are V . 9 0 . p . 1 1 0 3 , 1 2 1 0 . 1 2 9 7 .
uaranteed by California Gas A Electric Corporation by endorsement.
c
a
2,599,000
were retired undor unifying and refunding mtge. of California A h q u i s i t i o n o f sP h i lk doe l p h i a C o m p a n y .— I n F o*> . 1 9 0 6 a c q u i r e dg $ 2 1 , 0 0 0 , 0 0 0
ph
C
o
t b
i
5
Gas A Elec. Oorp., $276,700 are alive in sinking fund and $2,000 are de o f tn eow c ocm lma o n r a lt o c r u s tf t h e dPsh ial a d e l$ 2 0i a In oc. o mf mPoi nt s s tuorcg h ,o f i v hn g I$n3v7e s t0
In
o l te
t
bon
nd
k
t e
posited under gen. St ref. mtge. Of Blue Lakes Water 1st M . bonds, $12, m e n t C o . f o r e a c h $ 5 0 s h a r e o f t t ie P h i l a d e l p h i a C o . f i r e V . 8 2 . p . 3 9 3 .
000 are in sinking fund.
988
F o r s t a t e m e n t m a d e in l i s t i n g t h e s e b o n d s o n t h o P h i l a d e l p h i a S t o c k
United Gas A Electric Co.— Bonds.— Interest Is payable at Crockor Nat. F .x e h a n g e , s e e V 8 3 . t>. 1 2 3 5 . N o w o t i l s $ 2 4 , 5 5 5 , 0 0 0 P h i l * O n . c o m . s t k .
Bank, San Francisco, or Mercantile Trust Co.. New York. A sinkingfund
A g a i n s t t h o $ 1 ,0 0 0 ,0 0 0 4 -y e a r n o t e s s h o w n in t h o t a b le b e lo w , t h o c o m
began July 1 1907 of 2% of bonds outstanding for the first 5 yoars; p a n y h o l d s S I , 0 0 0 , 0 0 0 " n o t e s r e c e i v a b l e — U n i t e d R R s . o f S a n F r a n
3% the next 5 years; 4% the noxt 5 years; 5% tho next 5 years: and 6% c i s c o . ” T h o c o m p a n y h a s s t a r t e d a r e s e r v e a c c o u n t a n d p u t a s U ls
per annum thereafter. 3537.000 have been cancoled by sinking fund
$ 1 ,2 5 5 ,5 1 8 t o a p p l y t o w a r d t h o r e d u c t i o n o f t h o lo s s s u s t a i n e d t h r o u g h t h e
U n ite d B B s .
S e o th a t c o m p a n y b e lo w .
Bonds aro not subject to call.
Valley Counties Power Co. Btmds are not subject to call. Aro guaranteed,
STO CK AN D BO N D S—
D a te .
In terest.
O u tsta n d in g . L a s t D ir . A c .
principal and Interest, by Bay Counties Power Co. Listed on San Francisco C o m m o n $ 3 1 , 0 0 0 , 0 0 0 f $ 1 0 0 ) ..................
......................... $ 2 0 , 4 0 0 , 0 0 0
_______________
Stock Exchange in June 1905. V. 80. p.2625. Commencing Nov. 1 1905. P r e f 5 % c u m f r o m A p r l 1 9 0 2 1 _____
........................ 1 6 , 0 0 0 . 0 0 0 J a n '0 7 . 2 , 4
and on Nov 1 for each succeeding four years. 1% of aggregate amount of
in s c r i p
$ 2 5 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) .................. I
bonds issued and outstanding is payable to sinking fund, commencing Nov. 1 P r o f s t o c k d l v c e r t i f i c a t e s . . ..................
See to x t
1 .4 6 2 .5 0 0
_______ _______
1910 and for succeeding four years, 1)4% ; commencing with Nov. 1 1915. 1 s t H o n c o l l a t e r a l t r u s t m t g e f 1 9 0 6
5 g M -N
1 5 .9 2 4 ,0 0 0 M a y t 19 2 6
and for succeeding four years, 2% : commencing with Nov. 1 1920 and for
$ 2 0 . 2 . 5 0 . 0 0 0 g o l d ( $ 1 .0 0 0 ) { I n t . a t G u a r . T r u s t A S a f e D e p . G o . . P h l i a . ,
succeeding four years, 2)4% : commencing with Nov. 1 1925 and for suc
s i n k i n g f u n d ________________ c * l
o r N . Y . T ru st C o ., N
Y ., T ru ste e .
ceeding four years, 3% . $637,000 bond,-) now held In sinking fund.
C o n v b o n d s $ 6 ,0 0 0 ,0 0 0 g o ld f 1 9 1 0
6 F -A
7 9 0 .0 0 0 J u n e 1 1 9 3 0
South Yuba Water Co.— Consolidated mortgage callable at 110 and inter
( $ 1 , 0 0 0 ) , . ___________________ I
C e n tra l T r u s t C o ., N
Y
tru stee.
est. $12,000 in sinking fund.
F o u r - y e a r g o l d n o t e s ------------------ 1 9 1 7
5%
1 ,0 0 0 ,0 0 0 F e b 1 19 2 1
Central California Electric Co.— $848,000 are deposited undor unifying
B o n d s . — T h o c o l l , t r u s t b o n d s a r e s e c u r e d b y d e p o s i t o f »1! a c q u i r e d c o m
and refunding mortgage and $1,000 under general and refunding mortgage: m o n s t o c k o f t h o P h l i a . C o . e x c e p t 7 , 1 0 0 s h a r o s . T h o y a r e s u b j . t o c a l l o n
$1,000 In treasury. Callable at 110 and Interest.
a n y in t. d a t e a t 105 a n d in t .
A sin k in g fu n d o f 1 % p e r a n n u m o f b o n d s o u t
Suburban Light A Power Co.— $28,000 held alive in alliod companies' s t a n d i n g b e g a n M a y 1 1 9 1 1 , s a i d f u n d t o b o i n v e s t e d in t h e b o n d s a t
sinking funds.
n o t m o r e th a n 105 & In t. T h o a m o u n t r e p o r te d o u t s t a n d in g as a b o v e e x
San Francisco Gas A Electric Co. General Mortgage Bonds Nos. 1 to 4.000, c l u d e s $ 2 2 2 6 . 0 0 0 h e l d b y t r u s t e o in s i n k . f u n d . A u t h o r i z e d a m o u n t o f
Inclusive, aro subject to call $100,000 yearly Nov. 1 at 105. by lot. beginning b o n d s m a y b e I n c r e a s e d f o r p u r c h a s e o f a d d i t i o n a l s h a r o s o f c o m . s t o c k o f
Nov. 1 1906. $1,200,000 have been canceled. $115,000 are hold alive in P h i l a . C o . B o n d s a r e l i s t e d o n N Y . A P h l i a . S l o c k E x c h a n g e s . V . S O ;
sinkingfund of allied companies and $105,000 retired undor gen. & ref. mtge.
169, 172.
C o n v e r t ib le b o n d s a re c o n v e r t ib le In to c o m m o n s t o c k a t p a r .
Mortgage closed; no more bonds can be issued for any purpose.
o In te re st h a s a c c r u e d o n th e s e b o n d s s in c e F e b . 1 1 9 1 7 . S e o r e m a r k s a b o v e .
Pacific Gas Improvement Co. mortgage has a sinking fund of $20,000 annu
S to c k .— T h e p r e fe r r e d s t o c k c a n b o r e t ir e d a t 1 1 0
$ 1 ,0 0 0 ,0 0 0 o f th o
ally
3368.000 have been canceled, $321.000 retired under gen. St ref. mtge. p r e f s t o c k o u t b e a r s d i v s f r o m S e p t . 1 1 9 0 9 .
and $62,000 alive In allied companies' sinking fund.
P r e f . S lo c k D i v . C e r t i f i c a t e s .— O f t h o $ 1 , 4 6 2 , 5 0 0 o u t s t a n d i n g , $ 7 1 2 , 5 0 0
Mutual Electric Light Co. Bands havo sinking fund of 2)4% per annum b e a r i n t . a t r a t e o f 6 % a n d $ 7 5 0 , 0 0 0 a t 5 % .
of bonds Issued and out; $57,000 have been canceled and $10,000 are held
D iv id e n d s .— F ir » t d i v . . 1 ) 4 % . o n p r o f , s t o c k , p a id J a n . 3 1 9 0 3 ; 1 ) 4 %
in sinking fund.
J u l y '0 3 : in J a n . '0 4 . 1 ) 4 % ; J u l y , 1 ) 4 % ; In '0 5 . 4 % ; In '0 6 . J a n . , 2 ) 4 % ( V .
Metropolitan Gas Corporation bonds are red. at par and int. on anv In*
8 1 , p . 1 6 6 7 ); A p r il. 4 ) 4 % — o w in g t o t h o e a r t h q u a k e a n d f lr o , th is d iv i d e n d
date. Sinking fund $25,000 yearly; $47,000 In sinking fund and $150,000 w a s p a i d in i n t e r e s t - b e a r i n g s c r i p i n s t e a d o f c a s h . V . 8 2 , p . 9 8 8 . I n J u l y
havo been canceled.
1 9 0 6 a n o t h e r s c r i p d i v i d e n d o f 2 ) 4 % p a i d ( V . 8 2 , p . 1 3 8 1 ) , a n d In J a n . '0 7
Livermore Water A Power First Mortgage Bonds.— Of thoso, $78 000 In a n o t h e r o f t h e s a m e a m o u n t : J u l y '0 7 d i v i d e n d p a s s e d a l t o g e t h e r . V . S 4 ,
sinking fund.
•
•
p. 1429.
N o n e s in c e .
Oroville Light A.Power Co. lsl Mtge. 6% Sinking Fund Bonds.— $13,000
R E P O R T .— F is c a l y e a r s o n d in g J u n o 3 0 (1 9 1 7 r e p o r t V . 1 0 5 . p . 1 6 1 6 ):
are held in treasury.
Y ea r
D i v s . R e c 'd
O th er
T o ta l
In terest o n
B a la n c e ,
Sinking Funds. -Total cash and bonds in all sinking funds of Pacific Gas
E n d in g —
o n S to ck s
In co m e
E xp en ses.
B o n d s .A c .
S u r p lu s .
& Electric Co. and subsidiary comDanies Doc. 31 1917, $11,216,904.
J u n o : « ) 1 9 1 8 ______ 5 1 . 5 3 4 . 6 8 7
$ 1 6 8 ,8 2 1
$ 9 0 ,2 7 0
$ 1 ,0 7 2 ,5 2 3 $ 5 4 6 ,7 1 *
Dividends.— First on original (now 2d) prof. ($1)4) was paid April 15 J u n e 3 0 1 9 1 7 ............... 1 . 7 1 8 . 8 5 0
1 7 2 ,7 3 3
8 4 ,4 4 1
1 ,0 9 2 .3 3 9
7 1 4 .8 0 3
1906; none after that to Aug. 2 1909, when $4,992,100 com. stock and $2, J u n e 3 0 1 9 1 6 ............... 1 . 5 9 0 . 6 8 5
1 7 5 .5 4 1
7 3 ,7 4 3
1 .1 1 5 .3 2 1
5 7 7 .1 6 2
660 cash was given in settlement of cum. divs. amounting to 20% . Stock June 30 1915........... 1.5#4.7«S
165.038
77.737
I 182 160
480 920
holders were offered and accepted 1 share o f com. in lieu o f accum. illvs. on
T h o e n t ir e s u r p l u s e s o f 1 9 1 7 -1 8 a n d 1 9 1 6 -1 7 a g g r e g a t in g $ 1 ,2 5 5 ,5 1 8 Im v *
each 2 shares of pref. V. 89, p. 104. In Nov. 1909, 1)4% . In 1910, b e e n s e t a s i d e a s a p r o v i s i o n t o w a r d l o s s e s s u s t a i n e d t h r o u g h i n v e s t m e n t
Feb.. 1 )4 % (V. 90, p. 237), and tho same rate has been paid quarterly since I n U n i t e d R R s . o f S a n F r a n .
to and Incl. Aug. 1918
Initial dlv., 1)4% , was paid on tho new 1st pref.
O F F I C E R S . — P r e s ., M a s o n B . S t a r r in g ; V . - I ’s . , F . B . V a n V o r s t a n d
stock N ov. 1914; same rato paid quar. since. On Nov. 22 1911 directors E b e n R i c h a r d s : T r e a s . . B . S . G u i n n e s s , N . Y . : S e c . A A s s t . T r e a s . , M . V . R .
authorized tho issuance of $10,000,000 fully paid (out of accum. surplus) W e y a n t : A u d . St A s s t . S e c . . I ’ . M . H a s k i n s . — V . 1 0 3 . p . 1 3 0 2 , 1 5 0 9 . 1 7 9 0 ,
common stock (of which $9,979,900 Issued) to common stockholders In 1 9 0 0 . 2 0 1 2 ; V . 1 0 5 . p . 7 1 7 , 1 4 2 1 , 1 5 1 0 : V . 1 0 6 , p . 2 4 5 1 .
proportion of )4 share of now stock for eacii whole share of old stock. V. 93,
(1) Tlie Railroads & Power Development Co,
p. 1453. Initial cash div. on com.— 1 M % — paid April 1912; July. I tf% ;
O R G A N I Z A T I O N . — I n c o r p o r a t e d In M a i n e o n J u n o 9 1 9 0 9 w i t h n o m i n a l
Oct., 1)4% . In 1913, Jan., 154%; April 1 .1 )$ % . None to April 1916,
when 154% was again paid; same rato paid quar. to and Incl. Oet. 1917. ( $ 1 , 0 0 0 ) c a p i t a l s t o c k , w h i c h h a s s i n c e b e e n I n c r e a s e d t o $ 6 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) .
Jan. 1918 div. omitted (V. 106, p. 86, 190). In 1915 paid a 6% stock divi o f w h i c h $ 5 , 5 0 1 , 0 0 0 Is o u t s t a n d i n g . A l l s t o c k ( e x c e p t d i r e c t o r s ' s h a r o s ) la
dend »n tho common stock in 2 equal installments on July 15 and Doc. 15. o w n e d b y U n i t e d R y s . I n v e s t . C o . ( V . 8 8 , p . 1 3 1 4 , 1 1 2 9 ) . I n D o c . 1 9 1 2 d l s -
f
&
SKP'B., 1918.]
ELECTRIC RAILWAYS
119
EARNINGS—
Gross
Net (after
Other
Bond
Balance,
posod of Its holdings In the San Francisco Electric Rys., Sierra & San Fran
Yearsending— Earnings.
Taxes).
Income. Int., &c.
Surplus.
Power Co. and Coast Valley Gas St Elec. Co. to the California R. R. A Pow$89,195 $1,584
$57,620
$33,15*
Co. Owns among other Investments $165,900 prior preference, $1,740,000 Juno 30 1918..........-$326,192
Juno 30 1917______ 270.914
92,799
857
59.440
34,216
pref. and $5 ,836,000 common stock of tho Cal. R y. < Power Co.
&
95.475
683
59,500
36,68$
OFFICERS.— Pres., Mason 11. Starring; Sec. St Treas., P. M. Hoskins. June 30 1016........... 249,417
OFFICERS.— Pres. & Gen. M gr., H. F. Jackson, San Francisco: V.-P.,
— V. 98, p. 529, 847; V. 90, p. 1364.
(2) C alifornia Railway & Power Co.
. _ „ . P. M . Hoskins, N. Y .. and Warren Gregory, San Francisco; Sec. & Treas.,
All the common and pref. stock Issued Is owned or controlled by the United F. J. Blanchard. San Fran.— V. 103, p. 1304; V. 105, p. 1416, 1423.
Itys. Investment Co.
(d) United R ailroads of San Francisco.— Trolley
ORGANIZATION.— Incorp. In Delaware on Dec. 18 1912 to take over
Incorporated In California on March 4 1902 and charter amended March
and hold tho entire outstanding 1st pref., pref. and common stocks o f United 29 1902- Has acquired the following stocks:
It Its. of San Francisco, and tho entire outstanding stocks (except director's
Shares
Par
qualifying shares) o f the San Francisco Electric Itys. . Sierra A San Francisco
Acquired.
Value.
Name of Company—
Power Co. and Coast Valleys Gas & Electric Co. These securities had pre
.186.169.11
$100
viously been held by tho United Itys. Invest. Co. and T ho Railroads St Pow. 20,000
100
Dcvel. Co. Also owns SI ,925,000 7% notes of the United It Its. of San Fran
10
. 23.066
No interest has been paid on these notes since Dec. 15 1916. On Dec. 11
. 10,000
100
1917 the company brought suit against tho United RRs. for recovery or
239,235.11
principal and Interest.
. , . . . .
STOCK—
Authorized. Outstanding.
Last Div.
On M arch 5 1909 filed a certificate of decreaso in common stock from
Common stock___________________ $40,000,000 $-10,000,000 ----------------$20,0 0 0 ,0 0 0 to $18 ,8 0 0 ,0 0 0 , the United R y. Investment C o. having
Pref. stock, 7% cum., red. at $115- 0,874,400
0^87-1,400 June '14, 2% surrendered 12,000 shares for cancellation. V. 88, p. 1314.
Prior preference 7% cumulative—
5.000,000
2.800,000 See text
The San Fran. Elec. R ys. has acquired $9,99 7 ,5 0 0 o f com . stock of
Prior preferred stock is redeemable at $115 a share oxcopt tho first Un. R R . of 8 . F .; $ 7 ,950,000 o f the common stock and all the prof, are
$3,000 000, which will bo rotired, when earnings are sufficient therefor, owned by the California R y. St Power Co.
through a cumulative sinking fund $100,000 yearly on January 1
United R Rs. of San Fran, in 1910 leased the San Fran. Elec. R ys. Soe
P>14 to 1917 and $260,000 annually thereafter. $100,000 was redeemed in that company above and V . 91. p. 46. Also leases Gough Street UR
cash Jan 2 1914 (V 07. n. 1820. 1662) and $100 000 Jan. 2 1915 (V. 100.
Default— Reorganization.— In view ot the unsettled conditions surround
p. 53). None rodeomed since.
Additional! prior pref. stock may be ing maturing underlying bonds and reorganization plans the O ct. I 1916
Issued oidy for additions, botterments, acquisitions, &c. No mortgage or and subsequent interest on tho com pany’s $ 2 3,854 ,000 4 % bonds has not
other incumbrance may be created that does not provide for the cancella been paid (V . 103. p. 1303). A sufficient number of bonds having been de
tion of all prior pref. stock then outstanding. V. 96. p. 61.
posited thereunder, the amended plan of reorganization dated April 26
REPORT.— For years ending June 30 (191/ report In V. 105, p. 1416); 1917 was declared operative June 2 1917. The plan, if carried out, will
Fiscal
Total
Net
Previous Total for
Prior Pref.
Total
reduce the total capitalization from $ 8 4,639 ,100 to $47 ,7 2 2 ,0 0 0 , and
Year— Income. Income. Surplus.
Divs.
Dividends.
Surplus.
provides that all o f the physical properties, franchises, bonds and stock
------- — -------$4,558 dof$5,498
______def$5,498
1917-18___
$223def$10056
owned by the United Railroads and all of the physical properties, franchises
14.014
32.558 (1% ) 28,000
4 555 and bonds owned by the San Francisco Electric R y s., be transferred to the
1916-17___ 92,425
18.544
_______ _ ___ ______
_
43.633 210,014 (7% ) 196.000
14,014 present M arket St. R y. C o. (incorp. O ct. 13 1893) or other successor com
1915-16___ 203.328 166,381
Dividends.— First div. on prior pref. stock—-1J<%— paid April 1 1913; pany. Full details o f the plan were given in tho M a y 1918 number of
same rate quarterly to and Inch July 1916. In Oct. 1916 paid only 1%
this publication. W e understand, however, that tho plan will be son iiNono since. V. 105. p. 1416. In Sept. 1913 a dividend of 8}4% was what altered owing to the change in tho conditions under which it was
paid on tho preferred stock. In June 1914 2% was paid.
promulgated.
OFFICERS.— I’res., Mason 11. Starring; V.-Ps.. G. do 11. Greeno and
Reorganitalion Committee.— Frank B . Anderson, Chairman; W illiam H .
S. II. March: Treas., II. S. Gulnnoss; Sec. & Asst. Treas.. P. M . Hoskins; Crocker. Herbert Fteishhacker, I. W . Heilman Jr., and John D . M c K e e ,
Asst. Soc., C. II. Mann.— V. 104, p. 1263. 2010, V. 105, p. 1308, 141G
with office at 901 Alaska Commercial B ldg., San Frahclsco. and PUlsbury,
Madison Jc Sutro of San Francisco as counsel.
1418, 2542.
Depositaries for United IlRs. 4s.— Union Trust C o .. M arket St and Grant
(а) Snn Francisco Electric Railways.
A v o., San Francisco, and as its agents. Guaranty Trust C o. and Equitable
Entire stock Is owned by California Ry. & Power Co.
Lease.— In 1910 road was leased to the United RRs. of San Francisco, Trust C o ., N . Y . C ity . Certificates of deposit have been listed on the
which see below. Lease provides for all charges, inch Int. and sink, fund N. Y. Stock Exchange.
New York Committee.— Chairman, John Henry Hammond of Brown
on bonds. Lessee guar. prln. S Int. on 1st mtge. bonds. V. 91. p 464.
t
ORGANIZATION.— Incorporated In 1909 for purpose o f acquiring and Bros. St C o .; Sec., Morrell W . Gaines, 59 Wall S t., N . Y . C . Depositaries,
Union Trust C o ., N . Y . C .; Girard Trust C o ., Phlla.; Mercantile 'Tr. &
operating other street railways In Sau Francisco. V. 88, p. 1129, 1314
In July 1909 acquired tho I’arkstde Elec. Ry. Co. (V. 89. p. 287) and also Dep. C o ., B alt. Brown, Shipley & C o ., Founders Court. Lothbury,
tiie Vfsltaclon Valley Elec. RR. V. 89, p. 529. Owns $9,997,500 com London, E . O ., will act as sub-depositary for foreign holders. Seo V .
104, p. 1703.
mon stock of United RRs. of San Francisco.
On Doc. 26 1916 suit was brought to foreclose tho mortgage securing the
Outstanding.
STOCK AND BONDS—
Date.
Interest.
Maturity $1 800.000 M arket St. Cable R y. bonds due Oct. 15 1916. V. 10-1. p. 73.
Stock $10,000,000 ( $ 1 0 0 ) . . - - .......................... $10,000,000
The bond* have been purchased at par by a syndicate which has also pur
First mortgago $10,000.000( 1909
6
. ------------ 1934 chased at par the Ferric's & C liff House 6s duo Dec. 31 1916. In M ar. 1918
1.416,000
Dec.------gu p St i by U RRs of S F_ .(U nion Trust Co., San Francisco, Trustee
tho Anglo-CnlLfornia Trust C o. and the London Paris N a t. Bank of San
Of tho bonds reported outstanding. $351,000 are In sinking fund
Francisco filed suit against the M arket Street R y .. this co. and the Union
OFFICERS.—Pres., Geo. lv. Ford; V.-P.. John A. T.vrelt; Treas.. Trust C o. of San Francisco, as trustees, to foreclose the latter mortgage.
J. F. Forbes; Sec., J. E. Krueger.— V. 91, p. 464; V. 95. p. 1609, 2011.
V . 106, p. 1127.
Operating Agreement.— A t a referendum election on April 22 1913 the
(б) Sierra & San Francisco Power Co.
lower M arket St. track agreement, under which the city's Sutter and the
Stock Is owned by the California Ry. A l ower Co.
ORGANIZATION.— Incorporated in California on May 29 1909 and on Geary St. (A . St B .) cars run through to tho ferry, was ratified. V 96. p.
Sept. 1 1909 took over the Stanislaus Elec. Pow. Co. and tiie Tuolumne 1299. In April 1916 the company and the city roachod an agreement
whereby the city's California St. and Exposition line (C. St D.) cars may
Water Power C o., both foreclosed per plan in V. 88. p. 235. 569, 1005. 1066
Has contract extending to 195-1 with United RRs of San Frau, to supply uso the outer loop at the ferry, provided the city pays for Its share o f power
power to that company. In Oct. 1917 purchased tho LaGrange division used and Its proportion of cost of construction and maintenance based on
of the Yosemito Power Co. for $450,000 and cost of additions and better use of tracks hv said O St D cars
In July 1918 the San Francisco Board of Supervisors directed that a
ments from Dec. 1916. V. 105, p. 1528.
measure providing for tho use of the co.'s tracks west of Twin Peaks o «
In 1910 reclassified its bonded debt as given below. V. 91, p. 342.
Valuation Asked.— In March 1918 asked the Cal. UK. Comm, to investi Ocean A v e. and to Parkside by the Municipal R ailw ays be drafted, th*
gate tiro co s property value and to fix water and electricity rqtes. V. 106, consideration for this privilege to be $100,000 and a car mileage charge
p 1349.
of 714 cents. V . 107. p. 182.
Municipal Bonds Voted.— At ■ city election held Aug. 26 1913 it was
»
Tiie construction and enlargement of reservoirs and ditches, involving
an expenditure of $5,000,000. Is contemplated. For details, seo V. 105, voted to Issue $ 3 ,500,000 hoods for the construction or acquisition of a sys
tem of municipal street railways. See V . 96, p. 1490: V . 97. p. 238, 597.
p. 1099.
Negotiations for Purchase by City.— At a meeting held Sept. 24 1917, at
On May 2 1918 was auth. by tho Cal.’ RR. Comm, to sell at not less than
80 and int. $1,000,000 1st M. 5% bonds, proceeds to bo used to reimburse which tho M ayor, a committee o f citizens and the members of the Reor
the treasury in part for exp. and lmpts. made prior to Feb. 8 1918. Up to ganization Com m ittee were present. It was proposed that the city appraise
the physical property o f the company anti buy on tho installment plan;
Sept. 12 1918 thoso bonds had not yet been sold.
also to agree with the co. on a year determined to be a fair measure of its
Fuel Conservation.— See Pacific Gas & Electric Co. abovo.
net earnings, or take an average of 5 years, as tho price to be paid by the
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity
city each year for every year of the franchise. N o bond Issue is contem
Stock $20,000,000 ($ 1 0 0 )-.----- ------$20,000,000 ................. ..
1st M $30,000,000 g ($1,000.]
1909 5 g F-A
7.500.000 Aug 1 1949 plated In tiie plan, but it would become effective through a charter amend
m ent.
*5,000. & c)_______c*& r*tfllnt.at U.S.Mtge.&Tr C o.. N.
Y ., Trustee. On Sept. 25 1917 the Public Utilities Com m ittee of tho San Fran
2d mtge Sor A & II $9.500.0001 1909 5-6 J-J
9.500,000 Jan. 1 1949 cisco Board of Supervisors adopted a resolution saying the purchase of the
U . R R s. by tiie city was in the best interests of tho people and authorizing
(51,000)......................... c * lColumbia Trust C o., New York. Trustee
Howls.— First mtge. bonds aro subject to call on any Int. dato at i 10 and tho C ity Engineer to confer with a representative of the co to fix a basis
Int. The remaining bonds may be Issued at 80% of cost or extensions and of valuation. Any plan adopted must be ratified by the peoplo at an elec
add'ns provided net earnings for previous 12 mos. shall equal twice Int. tion. V. 105. p. 1421, 1899.
For report o f Bion I. Arnold on electric railway situation, franchises.
charge on all outstanding bonds, Inch those to bo Issued. V. 01, p. 157.
The bonds are listed ou the N . Y. Stock Exch. Second mtge. consists of & c.. seo V . 96. p. i49 0 . See also V. 103, p. 2429,
Decision.— On Jan. IS 1917 Judge Hunt in the U. S. Court, at San FranSeries " A " $1,000,000, at 6% , and Series " B ” $8,500,000 duel. $37,000 In
cLsco dissolved the temporary injunction preventing the construction of
treas.), at 5% . Int. on Series “ B” bonds was payable at option of com
pany from July 1 1910 to and Inch Jan. 1916 In additional Series " B " bonds municipal street railway tracks on lower M arket S t., paralleling the co.'s
In lieu o f cash, and was so paid. July 1 1916 and subsequent Int. has been tracks. In Sept. 1917 co. appealed to the U. S. Supremo Court, and in
O ct. 1917 filed with tho San Francisco Board of Supervisors claims for dam
paid In cash.
Net (after
Other Interest on Balance, ages against tiie city amounting to $856,250, divided as follows: Deprecia
Gross
EARNINGS.
Taxes).
Income. Bonds, Ac Surplus. tion of value o f franchise. $700,000: loss by excavation. $ 2 5,000 . and loss
12 'Mos'. en ding— Earnings.
June 30 1918______ -?1,694,474 $931,590 $20,628 $859,357
$92,861 of rovenuo, $131,250. Tho case Is still pending before tho U . S. Hu prom*
972,147
30.087
8-15,593
June 30 1917............. 1.438,047
156,641 Court.
Strike— Wages.— A strike for a wage of $3 50 per eight-hour day and time
915,192
59.110
806,487
____ _
___............................
Juno 30 1916_______ 1,364,853
167,815
Property.—Owns and operates water-power properties near San Francisco and a ha.f for overtime begun Aug. 12 1917.. was form ally abandoned
and a supplementary steam station In that city, which have a combined ca N o v . 23 1917. Those platform men who remained loyal received a wage
increase of 3 cents per hour. V . 105. p. 910. 1 5 2 3 .2 1 8 6 ; V . 106. p. 1902.
pacity of 86.493 h.p.
lr „ T i
„
Suit.— On D ec. 14 1917 an action to recover $ 1 ,925,000 aud hit. at 7 %
OFFICERS,— Pros. S Gon. M gr., II. It. Jackson, San Francisco; V.-Ps..
t
J. K. M offltt. San Francisco, and P. M . Hoskins N Y.; Sec. ft Treas., from D ec. 1 1916 was brought against the co. in the U . 8 . D lst. Court by
tho California Ry. & Power C o ., which contends that said amount remains
F. J. Blanchard, San Francisco.— V. 106. p. bl2, 1349, 2319. 2763.
unpaid on a loan of $2,00 0 ,0 0 0 made to defendant. V. 105, p. 2544.
(c) Coast Valleys Gas & Electric Co.
STOCK A N D BONDS—
Date.
Interest. Outstanding. Maturity.
Stock Is owned by California Ry. & I ower Co.
$17.948,600Mch'06 1.5%
$18,800,000
ORGANIZATION.— Incorporated on March 20 1912 In California- Common cum $20,000.000.................
20.000.000 Aug'13. 1%
4 J-D
Pref 4%
Acquired tho properties of tho Monterey Gas « Electric Oo.. the Monterey 1st prof 7% cum $5,000,000-- 1907
7 F-A
5.000.
000
See text.
County Oas St Electric C o., tiie Salinas Valley Water Co. and the King Notes $1,000.000...................j 1906
1.000.
000 Feb. 1 1916
5
City Water, Light St Power Co., and owns all stock o f tho Monterey
Redeemable after 5 years at par
St Pacific Grove RR. Does entire eloctrlc and gas business in Mon
1902
4 g A-O
23,500.000 April 1 1927
terey. Salinas and Pacific Grove; also owns water system of Salinas and
electric distributing linen In Salinas Valley and elec. & water system at King
City. Also owns $72,000 Monterey & Pacific Grove RR. 1st 6s, there being
Interest at company’s office, or in New York.
$300,000 auth., of which $18,000 are In sinking fund and $12,000 In
Union Trust Co., San Francisco, Trustee.
treasury. Jan. 1 1915 and subsequent coupons on Monterey A Pacific Grove Income deferred notes_______ _____
6%
740.000 __________
bonds ($198,000 in hands of public) aro In default. V. 100, p. 229. A pro Note (to Cal Ry & Pow C o)_ 1912
_
7%
1.925.000 ....................
tective committee, with Carter Pomeroy as Chairman, has boon appointed. Equipment notos $300.0001 1912 6 J-J
120.000 See text.
V. 100, p. 308.
($1,000). Rod at l02 H jIn t. at Anclo-Cal. Tr. Co , San Fran., trusIn April 1915 Cal. RR. Comm. auth. company to Issue $10,000 bonds for
and Int. on any int date_ I tee. or E. H. Rollins A Sons. New York.
_
exts. Those are not Included in tablo. Coinm. stated it would reconsider Market Stroet Ry consol M l 1894
5 g M-S
7 018 000 Sept 1 1924
tho application to issue $100,000 bonds when tho question of the company's
6 J-D
1,800.000
g (closed at $14,007,000)--llnt. at Treasurer's ofrice. San Francisco.
1883
liability as to the $300,000 Monterey & Pacific Grove Ry. bonds under guar
Divisional Bonds.—
anty given by Monterey County Gas & Elec. Co. has been determined.
6 A-O
1888
Mark St Cab Ry(closed) mtgel 1883 6 J-D
1,800.000 Oct 15 1916
1.895.000
V. 100, p. 1440.
6 M-S
($1,000) g (see text)...........J 1889
400.000
Co 1st M tg e..
972.000
Interest. Outstanding. Maturity. Omnibus CableHouse M tge__ 1888 5 M -N
STOCK AND BONDS—
Date.
Ferries A Cliff
Common $3,000,000 ($100)...............
$3,000,000 ...................
Sutter Street 1st Mtgo gold!
______
.
Prof $2,000,000 ($100) 7 % \ ___
2.000,000 ...................
($1.000__________________ \Unlon Trust C o.. San Francisco, trustee.
cum from July 1 '12; rod 110/
Contingent Liabilities.— Prln. and Int. guaranteed.—
First M $10,000,000 goldf 1912
6 g M -3
900.000 Mar 1 1952
____
_______ 1,416,000 __________
($1,000) anil sk fd of I %J Interest at Mercantile Trust Co., San Fran., San Francisco Electric Rys
_______
45.000 __________
of bonds out beg Mar '18 <:•( Trustee, or U. S. Mtgo. & Tr. Co , N. Y. Gough Street R y ____________ _____
Bonds.— Remaining bonds are for additions and extensions at 80% of
Bonds.—Of the $35,275,000 sinking fund gold 4s, $9,866,000 are reserved
cast, under restrictions. Bonds are redeemable, all or any, on any interest to rotlre underlying liens (the other $3,175,000 needed for that purpose be
ing provided by tho operation of the sink, funds). A sink, fund equal to
date at 105 and hit. V. 94. p. 1249.
2% of the entire gross earnings, but not loss than $100,000 a year, began
Jan. 1 1905. All the Income above 5% on the common must also be applied
1
ELECTRIC RAILWAYS
120
to a sink, fund or for improvements. V. 74, p. 529. 630. Through opera
tion of skg. fd., SI.505,000 bonds have been purchased and canceled; $50,000
remain unsold in the treasury; 3354,000 have been reacquired and are
held by the company; these bonds are not included in amounts given above
as outstanding. Bonds were listed on the New York Stock Exchange In
March 1908. V. 76, p. 1036. Equipment notes o f 1912 mature 330,000
annually July 1 1913 to 1922. V. 95, p. 751. Prior lien bonds subject
tp cull. $3,000,000 o f Market St. Cable Ry. bonds were originally issued,
falling duo Jan. i 1913. On that date $1,200,000 wore retired and the bal
ance was extended to Dec. 15 1915 and again to Oct. 15 1916. The bonds
of Market Street R y. Issue are subject to operation of sinking fund
and Sutter St. Ry. 1st M t 6 o. 5s are subject to call at rate of $50,000 pec
annum, in numerical order, beginning with bond N o. 1. $20,000 have been
reacquired and are held in sinking fund. The notes shown in the table
above were Issued to reimburse the company in part for Improvements since
1902. The Ferries A Cliff House mtgo. which fell due Mar. 1 1914, was ex
tended to Dec. 31 1914 after $50,000 wore retired. In Dec. 1914 E. n .
Rollins purchased and extended to Dec. 31 1916 $400,000 of these bonds.
The remaining $200,000 (of the S600.000 due Dec. 31 1914) were paid at
maturity (V. 99. p. 1912). The note to the Cal. R y. & Power Co. was
originally $2,000,000 but $75,000 has been paid. Of the Omnibus Cable Co.
bonds, $105,000. and o f the Market St. Ry. Co. 5%bonds, 580,000 have
been re-acquired and are held by the company.
Dividends.— On 4% prof., in 1902, Doc., 1.2%; in 1903, June. 1.2%;
D ec., 1.2%; in 1904, Juno, 1.5%: Dec., 1.5%; In 1905, June, 1.8%; Dec.
2 % . lit 1906, M ch., 3.6% (in full of all deferred dividends In arrears to
Sept. 30 1905); Dec., 2% (paid in dividend ctfs.). None to Aug. 1913,
when 1% was paid. Nono slnco. On 7% pref., 34$% paid semi-annually
from Feb. 1909 to Feb. 1914. None since. On com., 1.5% , Mar. 1906.
Earthquake and Fire.— For damage done by the earthquake and fire in
April 1906, see V. 82, p. 930, 988. Later in the yoar the company suffered
from a strike of its employees. Seo V. 83, p. 493, 563. In March 1907 em
ployees again went on strike, and this strike lasted for six months—see
annual report, V. 8 6 , p. 1221.
R EPO RT.— For year end. June 30:
Fiscal
Gross
Net (after
Other
Interest
Rentals
Bal.for
Year— Earnings.
Taxes).
Income. Chgs..Ac. A leases. Sk.Fd.,Ac
1916-17..$7,458,142 $2,205,940 $163,121 $1,928,882 $176,700 $263,479
1915-16.- 7,751,743 2.337.709 178,625 1.943,090 176,400 396,738
1914-15.- 8.024.095 2,750.268 208.059 1,974.400 176,400 807.527
ROAD.— Controls and operates 274.08 miles of track. Before the earth
quake and fire In 1906, a part of the mileage consisted of cable lines, but
this has since been changed to overhead trolley, aad the greator part (9 4 %)
of the system Is now operated by electricity. 759 pass, and 69 work cars.
FRANCHISES.— In a report by Haskins S Soils, accountants, it was
c
stated “ that out of the total original mlloago o f 228.95 miles, the franchises
for 11.5431 miles only expire prior to 1929; all others between that year
and 1952."
OFFICERS.— Pres., Jesse W. Lilionthal; V.-P. & Gen. M gr., William
von Phul; Treas., A. M . Dahlor; Sec. S Comp., Geo. B. Wiilcutt.— V. 105,
c
p. 1899, 2186, 2544; V. 106, p. 191, 1127, 1690, 1902; V. 107, p. 182, 1102.
PRESIDIO & FERRIES R A IN R O A D — Trolley.
The city of San Francisco purchased the property and rolling stock for
$323,000 and is now operating it, tho franchises having expired Dec. 13
1913. All debts wero paid and stockholders recoived a dividond of $40
per share (par $100. o f which $55 paid in in liquidation.)
SACRAMENTO NORTHERN RR7' Organization.— Incorp. in California on Juno 18 1918 as a reorganization
per plan in V. 104, p. 1489 of tho Northern Electric R y., bid in at fore
closure salo on M ay 281918. V. 106. p. 2758; V. 107, p. 182.
Upon completion of the reorganization, the capitalization of the new
company will bo as follows:
First pref. (a. S d.) stock, 6 % non-cumulatlve (par $100)______ $1,902,200
c
Second prof. (a. S d.)'stock, 6 % non-cumulatlve (par $100)____
c
957,800
Common stock (par $100)................................................................. 2,340,000
1st AI. 5% 20-year bonds, all on equal footing except as to Interest
payments. Dated July 1 1917. Denom. $1,000, $500 and
$100; Interest payable soml-annually. Total, $5,500,000, viz.:
Class A ” bonds, call, at 102, a fixed charge from July 1 1917-S2,012,400
•Class 'B ’ bonds, call, at par, a fixed charge from July 1 1919.
951,200
♦Class ’ O bonds, call at par, a fixod chargo from July 1 1922- 1,268,200
♦Class “ D ” bonds, call, at par, a fixed charge from July 1 1927- 1,268,200
♦Prior to dates named B, O and D bonds will recoive intorest only to
extent o f net earnings.
A sufficient number o f Class “ A " bonds will be sold to provide for pur
poses necessary to tho reorganization plan.
Voting Trust.—All o f tho new capital stock, except one qualifying share
for each director, will be deposited with the Union Trust Co. o f San Fran
cisco under a voting trust agreement, such trust to continue until all tho
bonds of tho new corporation shall bo paying the full fixed interest of 5 %
per year, but not longer than July l 1927. See V. 104, p. 1489.
EARNINGS.— Of tho Northern Electric Ry. for year ending Dec. 31
1917, gross, $758,727; net (after taxes), $116,756. In 1916, gross, $635,664;
net (after taxes), $32,380.
ROAD.— Total first track operated, 178.74; other tracks, 38.37; total,
217.41. Connects Chico, Orovillo, Marysville, Sacramento, Hamil
ton, Yuba City, Colusa, Meridian and Woodland. Also connoets Sulsun
and Vacaville In Solano County. Gauge, 4 ft. 8
In. Rail, 60 St 70-lb. T.
OFFICERS.— Pres., George F. Detrlck.— V. 106, p. 2758; V. 107, p. 182.
PENINSULAR R A IL W A Y .
Entire stock, except directors’ shares, is owned by Southern Pacific C o.
lie*-A.ISfIi5.YTION.— Incorporated In California Juno 30 1909 as a con
solidation of various electric railways in which tho Southern Pacific is inter
ested. namely tho Peninsular R R . Santa Clara Inter-Urban R R . (V . 83,
p . 380; V. 8 7 , p. 545) and tho San Jose-Los G atos Interurban R y . (V . 76,
p . 1109; V . 8 9 , p. 104).
STO C K A N D BON DS—
Date.
Interest. Outstanding. Alaturilg.
Stock $12,000 ,000 ( $
) - — ...............
.............
$
,
— - ................
San Jose-Los Gatos Intor. 1st) 1903
5 M -N 2 1
. 500.000 M a y 21 1923
mortgage $ 2 ,000,000 ($50(nInterest at Central Trust C o .. San Fran& $ 1 .0 0 0 )---------------------c * tfj
cisco. Trustee.
Bonds.— A sinking fund of 2 % o f net earnings, but not less than $10,000
per annum, began Jan. 1 1905.
E A R N I N G S .— For year ending D ec. 31:
100
__ , ,
Calendar Year—
12 000,000
Gross
Net (after Other
Interest,
Earnings. Taxes). Income. Rents. Ac.
Balance
Deficit.
1 9 1 7 ....................................... $257,178 $20,137 $39,325 $289,901 $230,439
1916
.............................. 275,234
1,085
34.349
274.228 238,794
R O A D .— Operates 65.420 mllos of first main track, 9.6 4 8 miles second
track and 5.699 miles o f sidings, turnouts, A c .; total, 80.767 miles. Also
owns 16.27 m . first main track, leased to Sou. Pac. C o ., and 1.26 m . main
track operated by San Jose R R s. Serves San Jose, Saratoga, Los Gatos,
Cam pbell. Cupertino, M onta Vista, M ayfield and Palo Alto, all In Santa
Clara County. Standard gauge. 60 and 70-lb ., mostly T rail. 41 electric
motor cars( including 2 express and 6 w ork), 2 trail cars and 1 electric
locomotive.
v O F F IC E R S .— Pres., Paul Shoup, Los Angeles; Sec. S A n d ., H . A .
c
Culioden, Los Angeles; T reas., M . S. W ade. Los Angelos; G en. M g r.,
F . E . Chapin. San Joso.— V . 8 9 , p. 104: V . 104. p . 2343.
SAN FRANCISCO NAPA &. C A L 1 ST O Q A R Y.
O R G A N I Z A T I O N .— Incorp. N o v . 10 1911 in California as successor to
tho San Frau. Vallejo S N apa Valley R R ., sold at foreclosure on O ct. 30
c
1911.
V . 93, p. 1535. Also acquired the Vallojo Benicia S N apa Valley
c
RR.
Has a 20-year traffic agroemont with M onticello S 3 . C o ., providing
for daily schedule o f at least six round trips betwoon Vallejo and San Fran.
Purchases power from Great Western Power C o. under contract expiring
Jan. 1 1922, with privilege o f extension for a further period o f 10 years.
Franchise runs to 1952 or later.
In Dec. 1915 the California R R . C om m , issued an order fixing the repro
duction cost of the property, less depreciation, at $1 .0 1 0 ,8 4 6 .
Fare Increase.— Effective July 1 1918, the co. was auth. by the Cal.
R R . Com m , to abolish all round-trip rates and to increase the charges on
commutation and school children's tickets 1 0 % .— V . 107, p . 402.
S T O C K A N D B O N D S—
Date.
Interest. Outstanding. Alaturitg.
Stock $ 2 ,0 0 0 .0 0 0 .................................................. ............
$731 ,70 0
. . .
1st M $ 1.000,000 gold ($100, 1911
6 J-D
572.100 Dec. 1 1936
$500 A $1,000) callable at Int. at Mercantile T r. C o ., San Fran., T h is .,
105 A Int. on any int dayc*
or at office of E . H . Rollins S Sons, N . Y .
c
Debentures— unsecured non- 1911
5%
599.100 D ec. 1 1936
foreclosable $610,000_____
[Vol . 107
Bonds.— Remaining $400,000 1st M . bonds are reserved for additions and
extensions at 75% of cost under certain restrictions. Annual sinking fund
of l % of bonds out began In 1914. V. 93, p. 1535.
EARNINGS.— For years ending Dec. 31:
Calendar Year—
Gross.
NelCaft.tax.)
Interest.
Surplus.
1917.................................
$245,390
$96,724
$65,828
$30,895
212,443
70,101
67,105
2,996
1916 ................................
ROAD.— Comprises 44.71 miles of track, extending from Vallejo, via
Napa, to Calistoga, of which 30 miios on private right of way. 12.39 miles
on streets or highways and 2.32 miles sidings. Standard gaugo. Owns
37 acres of land, incl. water front in Vallejo.
OFFICERS.— Pres., Jas. Irvine, San Fran.; Sec. S Treas., T. V. M ax
c
well, San Fran.; Gen. M gr., C. E. Brown, Napa.— V. 107, p. 402.
SAN JOSiS, CAL.
SAN JOSE RAILROADS.— A trolloy road.
Southern Pacific Co. owns ontlro stock oxcept directors’ shares.
ORGANIZATION.— Incorp. In California Doc. 23 1909 as successor to
San Jose Ry. Co. V. 90, p. 1297. Properties of San Joso & Santa Clara
County RR Co. purchased by San Jose RRs. March 15 1912
In June 1918 applied to tho Cal. RIt. Comm, for auth. to abandon that
part of its line between Linda Vista and Toyon stations and a portion of
tho line on Monterey road.
Fare Increase.— In Aug. 1918 was auth. by the Cal. RR. Comm, to In
crease fares from 5 cents to 6 cents. V. 107, p. 604.
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Alaturitg.
Stock $5,000,000 ($100)___
____
_______
$5,000,000 ...................
1st mtgo $1,500,000 gold/ 1910
5 g J-J
1.373.000 Jan 1 1955
_
($1,000) sinking fund_ t flln t . at Morcantllo Trust Co., S. F . Trustee.
San Joso & Santa Clara C of 1906
44$ A-O
1.152.000 April I 1940
RI1 1st & ref M $1,500,0001 Int. at Union Trust C o., San Fran., Trustee.
($ 1 ,0 0 0 ) gold...............c*tf\
Bonds.— The San Jose S Santa Clara Co. 11R. bonds are subject to call
c
atllO an din t. Sinking fund o f 1 % of outstanding bonds began Apr. I 1911.
1st M . bonds are subject to following sink.fund provisions, Jan. 1 1915 to
1939, Incl., $10,000 per year, 1940-44, incl.. $20,000 per yr; 1946-49,
$30,000 por yr.; 1950-54, $40,000 per yr.; or thoso bonds may bo delivered
to trustee in lieu thereof.
EARNINGS.— For years ending Dec. 31:
Year—
Gross
Net.
Other Inc. Int.,Rent..Ac. Bal.,Def.
1917 ................. $309,383
$31,917
$210
$171,120 $141,993
1916.....................
320.612
56.888
760
166.624
108,976
ROAD.— Owns 28.66 miles first track, 11.75 miles 2d track, 2.21 miles
sidings and turnouts; total, 42.62 miles; serving cities of San lose and
Santa Clara and country adjacent thereto. Standard gauge. 48 electric
motor, 2 freight and 11 trailer cars.
OFFICERS.— Pres. YVm. F. Herrin; V .-P., Paul Shoup; Sec. A Aud.;
II. A. Culioden; Treas., M . S. Wade: Gen. Mgr., F E. Chapin.— V. 90.
p. 1297; V. 92, p. 1033: V. 104, p. 560; V. 107, p. 604.
SANTA CRUZ, CAL.
COAST COUNTIES OAS & ELECTRIC CO.
ORGANIZATION.— Organized In California on Mar. 20 1912 and has ac
quired the Coast Counties Light & l’ ow. Co., Big Creek Light .S I’ow. Co.
i
aud San Benito Light S Power Co. and Gilray Gas Works; also the entire
c
capital stock of tho Union Trac. Co. (Santa Cruz). Franchise• in munici
palities perpetual; county franchises on highways until 1946 to 1959.
Outstanding
STOCK AND BONDS—
Dale.
Interest
Alaturitg.
$1,000,000
Common $2.000,090_________ ____ _
______
Quar.
100.100
1st prof $ 1 ,0 0 0 ,0 0 0 6 % c u m . . ____
See text
1,000.000
Quar.
Prof $1,000,000 6 % cum ___ ______
See tex t
Coast Counties L S P 1st M / _____
c
916.000 A u g 1 1 94 0
_______, 1906
5 _ F-A
_ g
$ 1 ,0 0 0 ,0 0 0 g ( $ 1 ,0 0 0 )_ c * t f l i n t , a t M o r c a n t llo T r . C o
S a n Fr , T r u s t e e .
B ig C r k L t A P o w l s t M $ 3 3 9 ,0 0 0 t f
4%
2 9 0 .0 0 0 M a y 1 194 7
S a n B en L t A P o w l s t M $ 1 5 0 .0 0 0 t f — 6%
1 4 6 .0 0 0 S e p t 1 1 9 5 0
Bonds.— O f t h e C o a s t C o u n t ie s L t . Sc P o w . b o n d s , $ 8 4 ,0 0 0 a r e h o ld in
s k g . fd .
C a ll a b l e 107 4$ a n d i n t . o n a n y i n t . d a y .
A n nual cu m sk g. fd .
o f 1 % o f b o n d s o u t . b e g a n J u n e 3 0 1 9 1 1 . V . 9 5 . p . 6 8 1 . S in k . f d . o n B i g
C r e e k L t . A P . b o n d s , $ 3 ,6 0 0 p e r a n n . b e g a n M a r . 3 0 1 9 0 8 ; $ 4 3 ,0 0 0 In
s in k in g fu n d .
S i n k i n g f u n d o n S a n B e n it o L i g h t A P o w e r b o n d s o f 1 % o f
bon d s o u t. began Ju n e 30 1915.
$ 4 ,0 0 0 b o n d s a n d $ 3 6 0 c a s h in f u n d .
Dividends.— 6 % p e r a n n . is b e in g p a i d o n b o t h Issu es o f p r e f s t o c k .
E A R N I N G S . — F o r y e a r s e n d . D e c . 31 ( n o t I n c l. U n io n . T r a c . C o . ) . —
Year —
Gross.
N et ( aft.T ax . ) . h it ., A c ..
Deprec’n.
Surplus.
1 9 1 7 ......................... $ 3 9 1 ,1 5 8
$ 1 6 9 ,2 1 4
$ 8 0 ,5 9 4
$ 2 4 ,0 0 0
$ 0 4 ,6 1 9
1 9 1 6 ......................... 3 6 3 .9 7 9
1 6 7 .7 4 0
8 0 ,2 2 1
2 0 ,0 0 0
6 7 ,5 1 9
Properly.— l l a s o n e h y d r o - e l e c t r i c a n d t w o s t o a m p l a n t s ; c o m b i n e d
»
c a p a c i t y , 3 , 3 4 6 h . p . ; 7 5 m ile s t r a n s m is s i o n lin e s a n d 531 m ile s d i s t r i b u t i o n
lin e s .
G a s p la n t s In S a n t a C r u z . , W a t s o n v i l l e , H o ll i s t e r a n d G i l r a y .
O F F I C E R S .— P ros. & G e n . M g r ., S . W a ld o C o le m a n ; V .- P ., R . M
H o t a li n g ; S e c . & T r e a s . , L . \V. P r y o r . — V . 9 5 , p . 6 8 1 ; V . 1 0 1 , p . 6 1 4 .
U n i o n T r a c t i o n C o . — C o n t r o l l e d b y t h o C o a s t C o u n t ie s G a s A E l e c . C o .
A t a m e e t in g o f t h o b o n d h o ld e r s o f t h o U n io n T r a c t i o n C o . in A u g . 1 9 1 5
a b o n d h o l d e r s ' p r o t e c t i v e c o m m i t t e e w a s a p p o i n t e d t o i n v e s t ig a t e t h o c o n
d it io n o f th a t c o r p o r a t io n .
V . 101, p . 6 1 6 , 846 .
A m a jo r ity o f th e b o n d
h o ld e r s h a v o s ig n e d a n a g r e e m e n t , w it h o u t s u r r e n d e r o f a n y f o r e c l o s u r e
r ig h t s , t o t h e e f f e c t t h a t p r o p e r t y is t o b o m a n a g e d a s h e r o t o r o r o a n d c o u
p o n s t o h e p a id a s e a r n e d .
Fare Increase.— Tn A u g . 1 9 1 8 w a s a u t h . b y t h o C a l i f . R R . C o m m , t o
c h a r g e a 6 - c e n t fa r o in S a n t a C r u z a n d o n t h o lin e s b o t w e o n t h a t c i t y a u d
T w in L a k e s a n d b e tw e e n T w in L a k e s a n d C a p it o la .
V . 107, p . 8 03 .
BON DS—
Date.
Interest. Outstanding.
Alalurily.
U n io n T ra c C o 1st M $ 7 5 0 . - / 1 9 0 5
5%
6 3 1 ,0 0 0 F e b I 1 93 5
0 0 0 g o l d ( $ 1 . 0 0 0 ) -C & r n t f ( I n t . a t U n io n T r . C o . , S a n F r a n ., T r u s t e e .
T h o b o n d s h a v o a s k g . fu n d fr o m 1910 t o 1915 o f 4 4 % o f b o n d s
o u t .; fr o m 1915 to 1920 1 % o f b o n d s o u t ., a n d fr o m 1920 t o m a t u r it y 2 %
o f b o n d s o u t ; s a id fu n d t o b e u s e d t o re d e e m th o b o n d s ,.
A re s u b je c t to
c a ll a t 110 a n d In t.
$ 1 0 0 ,0 0 0 b o n d s a r e r e s e r v e d f o r b e t t e r m e n t s a n d
e x te n s io n s .
$ 1 9 ,0 0 0 h a v o b e e u r e t ir e d .
R O A D . — O p e r a t e s 18 m ile s o f t r a c k In S a n t a C r u z a n d t o C a p i t o l a .
S ta n d a r d g a u g e .— V . 1 0 1 , p . 6 1 6 , 8 4 6 ; V . 1 07 , p . 8 0 3 .
SAVANNAH, GA.
S A V A N N A H E L E C T R I C C O .— A t r o lle y s y s t e m .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In G o o r g l a in D o c . 190 1 as a c o n s o l i
d a t i o n o f t h e C i t y A S u b u r b a n R y . , t h o S a v a n n a h T h u n d e r b o l t A I s le o f
H o p e R y . , S a v a n n a h A I s le o f H o p e R y . a n d t h o E d is o n E l e c t r ic I ll u m i n a t
in g C o .
D o e s t h e e n t i r e s t r e o t r a i lw a y a n d t h o g r e a t e r p a r t o f t h o e l e c t r i c
l ig h t i n g a n d p o w e r b u s in e s s o f t h o c i t y .
T h o S a v a n n a h P ow er C o . w as
I n c o r p o r a t e d in G e o r g i a M a y 3 1 9 1 2 ( c a p it a l s t o c k a u t h o r iz e d a n d I s s u e d ,
$ 1 , 0 0 0 , 0 0 0 ) , a n d h a s b u i l t a p o w e r s t a t io n w it h 1 4 ,7 0 0 k . w . c a p a c i t y w h ic h
is o p e r a t e d u n d e r le a s e b y t h o S a v a n n a h E i o c t r ic C o . a n d t h e l a t t e r g u a r a n
t e e s t h e b o n d s a n d n o t e s Is s u e d b y t h o P o w e r C o .
V . 95, p . 1040.
Fran
chises f o r b o t h s t r e e t r a i lw a y s a n d e l e c t r i c - l i g h t i n g p l a n t a r e p e r p e t u a l .
B o n d s a n d s t o c k w e r o In J u l y 1 9 0 2 l is t e d o n t h o B o s t o n S t o c k E x c h a n g e .
STOCK AN D BO N DS—
Date.
Interest. Outstanding.
Alaturitg.
C o m m o n $ 2 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) ............................................
$ 2 ,5 0 0 ,0 0 0
.........................
P r o f S I . 0 0 0 ,0 0 0 6 % n - c ( $ 1 0 0 ) _______
6
A - O 1 ,0 0 0 ,0 0 0 O c t 0 7 , 3 %
1st c o n s m t g o $ 3 , 5 0 0 , 0 0 0 g o l d / 1 9 0 2
5 g J -J
2 ,1 4 7 , 0 0 0
Ja n 1 1952
( $ 1 , 0 0 0 a n d $ 5 0 0 ) ____ c * . t f l l n t . a t A m e r i c a n T r u s t C o . , B o s t o n , t r u s t e e .
S a v T h u n A I s le o f II 1st M J
1 89 7
1 Q -J
1 ,0 0 0 ,0 0 0 J u l y 1 1 94 7
g ( $ 1 . 0 0 0 ) $ 1 . 2 5 0 .0 0 0 . c * n t f l l u t . a t C e n t r a l T r u s t C o . , N o w V o r k . t r u s t o o i
S a v P o w e r 1st M $ 2 , 5 0 0 , 0 0 0 / 1 9 1 2 - 5 A - O
Seo text
A p ril 1 19 3 2
g ( c a ll a t 105 a n d i n t ) ___ t f ( C o m m o n w e a l t h T r u s t C o . , B o s t o n , t r u s t o o .
N o te s p a y a b le J u n o 3 0 1 9 1 8
_____
_________
1 . 2 5 6 .0 0 0 _____________
Stock.— T h e 6 % p r e fe r r e d s t o c k is s u b j o c t t o c a l l a t 120 a t a n y t l m o .
Bonds.— O f t h o S a v a n n a h E l e c . C o . 1st c o n s , b o n d s , $ 1 ,0 0 0 , 0 0 0 a r e r e
s e r v e d t o r e t ir e a lik e a m o u n t o f b o n d s o f t h e S a v a n n a h T h u n d e r b o l t A I s le
o f H ope R y .
C a ll a b l e In w h o le ( o r in p a r t f o r s in k i n g f u n d ) a t 1 1 0 a n d i n t .
o n a n y In t e r e s t d a t e .
T h e c o m p a n y b i n d s i t s e l f t o a p p ly a t le a s t $ 2 0 ,0 0 0
p e r a n n u m , o e g i n n i n g 1 9 0 6 , t o w a r d I m p r o v e m e n t s o r e x t e n s io n s o r in t h o
purch ase o f b o n d s.
T h e r e m a in d e r u n is s u e d o f t h o S a v a n n a h E l e c , b o n d s
m a y b e u s e d fo r n e w c o n s t r u c t i o n a n d e q u i p m e n t , a t r a t o o f $ 1 , 0 0 0 b o n d s
f o r $ 1 ,2 5 0 In c a s h s p e n t .
O f t h o S a v a n n a h T h u n d e r b o l t & I s lo o f l l o p o R y .
b o n d s , $ 2 5 0 ,0 0 0 h a v e b e e n c a n c e l e d .
Sinking fund 2 % p o r a n n u m b e g a n
Jan . 1 1918.
B o n d s g u a r . , p . A 1., a n d s i n k i n g f u n d b y S a v a n n a h E l e c . C o .
Dividends . — O n p r o f , s t o c k 1 9 0 2 t o , 1 9 0 7 I n c l. , 6 % p o r , a n n u m . , N o n o s i n c e
Se p t ., 1918.]
ELECTRIC RAILWAYS
EARNINGS.— For tho 12 months ending Juno 30:
121
In 1915 the co. applied to the P. S. Comm, for relief from the provisions
of its Seattle franchise compelling it to pave between tracks and pay 2% of
its gross revenues to the city. A similar petition by the Tacoma R y. &
Power Co. was dismissed on April 27 1917, the P. S. Comm, holding that it
had no power to interfere and grant relief. On April 26 1918 the Wash.
Supreme Court at Olympia denied the Tac. Ry. ft P. C o.’s application for
a writ to compel the P. S. Comm, to investigate its financial condition and
either raise its fares or grant other relief necessary, holding that the remedy
for tho difficulties of the utilities lies in the legislature rather than in the
courts.— V. 106, p. 2012.
On M ay 22 1918 the Comm, dismissed the co’s application for an order
relieving It of a proportional cost of bridges, paving charges, and the pay
m ent'of 2% of its car receipts to the city as provided for in the franchise
agreement. The grounds on which the dismissal was based were that tho
points of law involved had been decided in the city’s favor in the faro case
tho
Power
106, p. 2346.
SCRANTON & WILKES-BARRE TRACTION C O R PO R ATIO N .— of Fare Tacoma Ry. & July 6 Co., just referred to. V. Council passed an
In crea se. — On
1918 the Tacoma City
A holding company.
ordinance auth.
ORGANIZATION.— Incorp. In Virginia in 1913 as a reorganization (per tho city limits. tho Tacoma Ry. & Power Co. to charge a 7-cent fare within
V. 107, p. 403.
plan V. 96, p. 1701) of the Lack. & Wyom. Valloy Rapid Transit Co. (sold
Tax D
July 1918 the Washington State Supreme Court at
at foreclosure), which company owned all tho securities o f tho Lackawanna Olympia ec is io n . — In co. to pay to the city of Seattle $64,387, being the 2%
ordered the
& Wyoming Valloy RR., tho Scranton & Northeastern R R ., tho Lacka tax on gross earnings provided for in tho franchise. The court also ruled
wanna Tunnel Co. the Central \falley RR. and tho Wilkes-Barre RR. that tho P. S. Comm, has no auth. over franchise provisions. V. 107, p. 292.
Those latter five companies were merged Into tho Lack. & Wyom. Valloy
10
Tacoma R y. &
R R . Co. (tho operating company) with $1,850,000 stock and $5,000,000 to On Oct. tho 1917 Manager Bean of the carltno at cost. Power Co. agreed
operate
city of Tacoma’s tide-flat
V. 105, p. 1618.
bonds, all of which is ownod by tho Scranton ft Wilkes-Barre Trac. Corn,
In
the city
and deposited under that company's refunding mtge., subject to $888,000 issue April 1918 voters of Tacoma, Wash., defoatod a proposal that Tacoma
$5,000,000
bonds
the purchase of the properties of the
L. ft W. V. Rapid Transit coll, trust bonds. The Railroad Co. owns all the R y. & Pow. Co. inV. 106, for 1462.
p.
stock of tho Lack. & Wyom. Valloy Pow. Co. Power franchises perpetual.
C ity P u rcha se. — On Sept. 13 1918 Pres. A. W. Leonard filed with the
Sinking Fund and Redemption Plan.— Tho plan for a sink, fund ($15,000
per ann.) and the establishment of a call price of 105 and int. for the Lacka. City Council of Seattle formal acceptance of the city’s offer to purchase the
& Wyo. Val. Rap. Tr. Co. coll, trust 5% bonds of 1901 became effective street railway property o f the company in Seattle for $15,000,000, payable
in 20-year 5% city utility bonds . Up to the time of going to press the deal
Nov. 8 1917. V. 105, p. 2094.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity. had not been consummated. See V. 107, p. 1193.
Strike Settlem ent. — On Aug. 2 1917 the strike on the lines of the company
Common $1,500.000.................................. ............
$1,500,000 __...............
was settled to mutual satisfaction of company and employees after having
Prof cum $1,000.000.........................
Soo text
760,000
See text
L ft W V Rap Tr Co coll trust/ 1901
5%
873,000 Aug 1 1951 been in force for 2 weeks. V. 105, p. 290, 389, 499. Arbitration of the
5% gold bonds_______ c* tflln t. at Guaranty Trust C o., N. Y ., trustee. points at issue was agreed upon. In Nov. 1917 an increase in wages of
Refunding intgo (soe text) g / 1913
5%
2.096.000
Aug 1951 4 cents an hour was granted the carmen of tho Puget Sound Elec. Ry.
and Tacotna Ry. & Pow. Co., effective Aug. 1 1917.— V. 105, p. 1999.
($1,000)...................... -C*tf(Guaranty Trust C o., New York, trusteo.
oil trust sink fund gold bdsl 1914 6 g A-O
970,000 Apr 1 1934
In crea ses in Pow er R ates. — V. 105, p. 2095.
$1,000,000 ($1,000)----- c*(Guaranty Trust Co., New York, trustee.
In June 1918 issued $12,250,000 notes to provide for tho retirement by
Slock. — Dlvs. on pref. 6% por annum until Juno 30 1917 and 7% there call at par on Aug. 1 1918 of tho $10,057,000 mtge. bonds due Feb. 1 1919,
after. Cumulative from Juno 30 1914. Pref. stock is red. at 105 tliroo and to reimburse tho treasury for add’ns already made. V. 106, p. 2560,
years after Its issue. Pref. and com. have equal voting power.
2650.
Bonds.— Refunding mtgo. bonds aro callable at 105 and int.; sinking fund
STOCK AND BONDS—
D a te.
Interest.
O utstand ing.
M a tu r ity .
of
per annum of outstanding bonds began Nov. 1 1917- $888 000
Q-J 15
$20,110,525
See text
aro reserved to retire underlying bonds. The mortgage was authorized Common $25,000,000 ($100)_______
Q-J 15
14.793.666 O c t’ 17, H %
originally for $5,000,000, but was subsequently closed at $3,000,000. The Pf $15,000,000 6% cum (8 1 0 0 )___
7 g J-D
12,250,000 June 1 1921
L. & W. V. Rapid Transit Co. 5% bonds aro securod by deposit o f $1,850. 3 --r M gold notes $20,000,-1 1918
000 ($500 & S l,000)--C *.tf/O ld Colony Trust C o., Boston, trustee.
000 stock and $5,000,000 1st M . 5s, due 1951, o f the Lack. ft Wyom. Valley
5 M-S
3.990,000 Mar 1 1940
R R . Co. Under a supplemental indenture, dated N ov. 1 1917, a sinking Pacific Coast Power 1st mtge 1910
$10,000,000 gold ($1,000) Int. at Harris Tr. & Sav. Bk.. Chic., Trustee,
fund of $15,000 per annum which began May 1918 was created and tho
c*ftr (closed mortgage)_
_
or at Harris, Forbos & C o., Inc., New
bonds wero made subject to call at 105 and Int. $15,000 in sinking fund.
York, or Boston.
V. 105, p. 2094. As of Sept. 1 1918 all but $25,000 of tho bonds had been
5 g F-A
3,693,000 Feb 1 1930
stamped by tho trusteo with tho callable feature sinking fund agreement. Seattle Elec Co 1st M $5,000-/ 1900
000 ($1,000) gold— c*ntf\Int. at Boston Safe Dop. ft. Tr. C o., Trustee,
V. 05, p. 2455. Tho coll, trust 6s of 1914 aro red. at any Int. period at 100
5,699.000 Aug 1 1929
and accrued Int. Sinking fund (cumulative) of 1% of outstanding bonds do do cons ft ref $25,000,-/ 1907 5 g F-A
000 ($1,000) gold. _c*ftrtf lint. at Old Colony Tr. Co., Boston, Trustee.
annually from March 1 .916 to March 1 1933. Those bonds arc secured by
Seattle Ry 1st M $500,000 g '
1901 5 g M -N
356,000 Nov 1 1921
the samo collateral as tho first and refunding mortgago. V. 98, p. 1246.
($1,000) guar p ft 1__ c*tf ilnt. at Boston Safe Dep. ft Tr. C o., Bos.,Tr.
Dividends.— 6% was paid on preferred stock from July 1913 to an Incl.
Pug Sd Pow 1st M $4,000,000/
1903 5 g J-D
2,920,000 June 1 1933
April 1917. In July 1917 began paying 7% .
gold ($1,000) guar___ c*tf lin t, at Old Colony Trust C o., Boston, Trust.
EARNINGS.— Years ending Dec. 31;
1909 5 M-S
2,962,000 Mar 1 1939
Cal.
Operating Other Inc. Exp. &
Bond
Pref.
Balance, Seattlo-Everett mtge $5,000.-/
000 g ($1,000, & c)..c*ftrtf1 Int. at Old Colony Trust Co., Boston, Trust.
Year— Income.
(Hold.Co.).
Taxes. Interest.
Dies.
Surplus
1905 5 g A-O
171.000 April 11925
1917---- $305,489
$026
$5,869
$210,000
$46,846
$43,399 Everett Ry, Lt ft W 1st M f
$2,000,000 g ($ l,000 )-.ctf\ ln t. at Bankers Tr. C o., N. Y ., Trusteo.
1 9 1 6 ... 321,295
572
5,107
210,000
42,500
64 260
Soe text Feb 1 1941
1 9 1 5 --- 288,373
588
4.841
210,000
42,000
32 120 do do cons M $4,000,000/ 1909 5 F-A
g o l d _______________c*ftr.\Int. at American Trust C o., Boston, trustee.
ROA D .— Lackawanna ft W yom. Vail. RR. operates 22.75 miles o f first
5 g A-O
825,000 April 1 1921
track, 20.74 miles o f second track and 8.61 miles o f yard track and sidings. Everett Ry ft Eloctric first/ 1901
mortgago $1,000,000 gold{Int. at Bankers Tr. C o., N. Y ., Trusteo.
Double track, laid with 90-lb. rail. Standard steam construction, private
($1,000) (closed)_______ tf I No sinking fund and not subject to call.
right of way. A standard-gauge tunnel, about 5,000 foot long, was com
3,527.000 Feb 1 1932
pleted in Scranton in Oct. 1905. This removed the only heavy grado on Pug Sd El 1st cons M $5,500.-/ 1903 5 g F-A
000 gold ($1,000)___ c*tf l Int. at Old Colony Trust Co., Bost., Trustee.
tho lino between Scranton and Wilkes-Barre. 30 passenger, 72 freight cars
do cons ft ref M $15.OOO,O00 1911
_________
See text
__________
4 motor express cars, 1 motor work car and 2 electric freight locomotives’
1899 5 g A-O
1.236,000 April1 1929
Freight and passenger busiuoss Is exchanged with all railroads entering the Tacoma Ry ft P 1st M gold!
($1,000) $1,500,000 not re-1 Interest at Old Colony Trust C o., Boston,
terminal cities.
deem able__________ c* n tfl Trusteo.
OFFICERS.— Pres., Win. O. Sprout; Chairman Exec. Comm. Frank It
5 g J-J
Seo text July 1 1927
Ford; V.P., W. II. Lippincott; Sec., S. C. Stivers; Treas., F. W. Potts — Pacific Tract 1st M $5,000,-) 1907
000 gold ($1.000)_______ c * lln t. at Old Colony Tr. C o., Bost., Trustee.
V. 98, p. 1158, 1246, 1539; V. 101. p. 1190; V. 105, p. 910, 1309. 2094.
Whatcom Co Ry ft Lt 1st M ( 1905
5 g M-N
1,407,000 Nov 1 1935
$2,500,000 gold ($1.000)tf(Int. at Old Col. Trust Co.. Boston, Trustee.
KEYSTONE UTILITIES CO.— A holding company
_______
2,405,054 __________
ORGAN IZATION .— Incorp. in Del. N ov. 24 1916. Controls the Notes payable, Juno 30 1918 ______
Hanover Light, Heat ft Power Co., nanover & McSherrystown St. Ry Co
STOCK.— In addition to the amounts of com. and pref. stock reported
(see this c o .). Gettysburg Electric C o., DuBoIs Electric C o., DuBois Trac outstanding above, there are non-interest-bearing receipts for $17,720
tion Co. (seo this co.). Susquehanna County Light & Power Co.
com. stock exchangeable at par for stock certificates. Pref. stock is re
These companies do tho electric light, power and part street railway busi deemable at 125. $1,466.800 common stock is ownod by Public Service
ness In Hanover, Gettysburg, DuBois, Montrose, Susquehanna New Mil Inv. Co. Both classes of stock aro non-taxable in Massachusetts.
ford and other communities In York, Adams, Susquehanna and Clearfield
Notes.— Of tho remaining 3-year notes $1,250,000 are reserved for issue
counties. Pa. The properties are operated by the United Service Co
present property and $6,500,000 can be issued only for 75% of tho
Brooks ft Co. Scranton, in Dec. 1916 offered the unsold portion o’r the aghinst additional property and extensions and only under certain restric
cost of
$1,225,000 1st & consol. 5s at 91)4 and Int., with 60% allotment of stock. tions. By terms of mtge. no additional underlying bonds may be Issued
V. 103. p. 2341.
during tho life of these notes. An annual sinking fund of 1)4% of notes
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturitu
outstanding during tho years of 1919 and 1920 is provided for, callable all
Stock $5,000,000 ($50)......... ...........................
$1,600,000
or in part on any int. date upon 30 days’ notice at 102 and int. during 1918,
1st & consol M $7,500,000 gl 1916
5 g F-A
1,225,000 N o v T i9 4 1 at 101 and int. in 1919 and at 100 and int. in 1920. Interest Is payable
($ 2 0 0 , $500 and $1,000).c* 1Interest at Scranton Trust C o., trustee. In Now York, Boston and Chicago. V. 106, p. 2560, 2650.
Bonds -Secured by pledge of tho capital stocks, contracts ana other
Seattle Electric Co.— Sinking Fund.— On 1st M ., 1 % of bonds outstanding;
securities or the underlying cos.; also by lien on other property o f tho co.
$1,307,000 bonds wore held by the trustees not canceled Jan. 1 1918;
Incl. Impts. to be made shortly with part o f the proceeds o f present Issue’ callablo as a whole or in part for sk. fund on any int. date at 110 and int.
Sufficient bonds reserved to retire certain underlying Hens which In amount The consol, and ref. M . bonds can be called In amounts not less than
aro less than tho present Issue. No bonds to be issued for more than 87 H % 1500,000, and in smallor amounts for sinking fund purposes at 105 and int.
of total expenditures, nor unless annual not earnings o f tho combiuod prop on any interest day. Sinking fund of 1% per annum started Oct. 1 1909;
erties are 114 times tho Interest charge, incl. bonds to be Issued. Red. at $689,000 of tho bonds wero held by trusteo for s. f. Juno 30 1918. $1,344.
102 \ and Int. lu wholo or part to Nov. 1 1931 and at 105 and Int. thereafter
4
000 arocancolod and $7,081,000 reserved to retire underlying bonds. V. 85.
PR O PE R T Y.— System Includes 4 electric generating stations (aggregat p. 222; V. 92, p. 189. Both mortgages aro closed.
ing 5,900 It. p. capacity); a hydro-electric system at Susquehanna Pa ca
Seattle Ry. bonds have a sk. fd. of 1% of bonds certified; $32,000 have
pacity 600 h. p.; 75 miles of high-tension transmission lines, connected with
boon canceled and $112,000 are held in sk.fd. not canceled. Bonds can be
local distributing lines; 20 miles o f street railway trackage, cars &c
OFFICERS.— Pres., Frederick J. Platt: V .-P ., James A. Linen Jr — called as a whole (or in part for sk. fd.) at 110 and Int. on any int. day.
V. 103, p 2341.
____
Puget Sound Power Co.— Mortgage Is closed. Both prin. and Int., as well
as sink. fd. payments, aro guar, by the Seattle Electric Co. Can bo ex
changed for Seattle Electric consol, and ref. 5% bonds, par for par. A sink
ing fund of 1% per annum rtf bonds outstanding commenced Mar. 1 1906;
PUGET SOUND TRACTION . LIGHT & POWER CO.
$393,000 have been canceled ($391,000 by sink. fd.). Subject to call as a
ORGANIZATION.— Incorp. Jan. 2 1912 in Maine per plan in V. 94 n
whole (or in part for sk. fd.) at 110 and interest on any int. day.
124 (re-incorp. in Mass, on July 9 1912), and has purchased and consoli
Seatlle-Evcrett bonds are a
the Seattle Elec.
dated the properties formerly owned by the Seattle Electric Co. Pacific Pacific Northwest Traction direct obligation ofpay prin., int. andCo., but
Co.
sinking
Coast Power C o., Puget Sound Power Co., Seattlo-Tacoma Power Co and fund payments on those bonds, has agreed to
Whatcom County Ry. ft Light Co. Also owns most of the stock of the security. They are additionally and has mortgaged its entiro property as
secured by the pledge of the entire issue
Pugot Sound Electric Ry. and all tho capital stock o f the Pacific Northwest ($200,000) of stock of
Sound International Ry.
and
Trac. Co., which in turn owns tho capital stock o f tho Puget Sound Inter $500,000 consol, mtge.the Puget the Evorott R y., Light & ft Power Co. The
bonds of
Water Co.
national Ry. ft Power Co., lossoo of Everett Ity., Light ft Water Co
mortgtige is closed. A sinking fund of 1% on amount of bonds out began
Through its subsidiary companies does substantially all tho street and Mar. 1 1914. $138,000
in
held
interurban railway and tho commercial electric light and power business In sink, fund uncanccled. not incl. areamount reported outstanding isfor s. In
Bonds
as a wholo or in part
f
tho Puget Sound district. Including the cities o f Seattle, Tacoma, Belling at 105 and int. See V. 88, p. 1062;callable p. 1244.
V. 92.
ham and Everett, Wash. Owns or controls hydro-electric powor plants
Everett Iiy., Lt. & Water Co.— Of tho $2,000,000 M ., $825,000 are re
with a present development o f 87.500 h. p. and an ultimate development of
about 175,000 h. p. and steam stations with a present capacity of 31,400 h. p. served to retire prior liens. $675,000 were issued but $504,000 were
Principal franchises expiro as follows; In Scattlo, railway, 1934; electric retired In 1916 through balance of proceeds from sale of water plant to
lighting and power, 1952. In Tacoma, railway, 1939: power, 1930. In city of Everett. Mortgage closed, except for refunding. No sinking
Bollingliam, railway, 104J (minor railway, 1934); light and power, 1940; fund, but bonds subject to call on any interest date upon 60 days’ notice
p s . 1941. In Evorott, railway, in 1944 and 1950: electric light and power at 107Yi and interest. Of the $4,000,000 consolidated Mortgage, $996,
000 is reserved for prior liens, $463,000 owned by Puget Sound Inter
in 1950; Interurbans chiefly on private right-of-way.
national R y. ft Power, $480,000 owned by Pacific Northwest Traction C o.,
Favorable Franchise Decision.— See V. 96, p. 791.
Sale of Water Plant to City.— On Aug. 10 1916 the city o f Everett took $31,000 is in sink, fund canceled and $2,030,000 are unissued. Callable as
over tho water plant of tho Evorott R y., Lt. ft Water Co. for $994,000. a whole (or in part for sk. fd.) at par and int. on any int. day. Sink. fd. of
Proceeds were used to tako up tho $500,000 Everett Water Co. 1st 5s. 1% por annum of bonds out began May 1 1914. V. 88, p. 1061.
duo 1921 and $197 ,000 of the $675,000 Everett R y.. Lt. ft Water Co. 1st
Puget Sound Electric Ru.— Of the 1st consol. M ., $1,236,000 aro reserved to
M . 5s. duo April 1 1925.
rotlro a like amount of Tacoma Ry. ft Power Co. bonds and $668,000 have
Fares.—-Seo “ Chroniclo", o f Fob. 13 1915, page 557. On Sopt. 12 1917 been canceled. Callablo as a wholo on any interest date at 110 and
tho 1\ S. Comm. auth. the co. to discontinue tho salo o f 25 tickets for SI Int. A sinking fund of 1% of bonds certified, plus 5% per ann. on bonds
In Seattle. V. 105, p. 1209. Tho city appealed, but in Nov. 1917 Judgo purch. for sk. fd., began Jan. 1 1907. Sufficient of consol, and ref. bonds
John R. Mitchell in tho ihurston County (Wash.) Superior Court dismissed aro reserved for underlying bonds, tho remainder is Issuable at 80% of
tho complaint.
cost for additions and improvements.
F ear—
Gross.
N et (a ft. T a x .).
Interest.
S in k.F un d.
D al.,S ur.
1917-18.........SI.071,437
$352,082
$275,909
$20,000
$50,173
1910-17_____
888,900
301,509
200,325
20,000
15,244
ROAD.— Operates 59.15 miles o f single track. In Sopt. 1917 received
auth. to oxtena its line co Port Wentworth. Construction has boen begun.
Gaugo, 5 feet. Power stations have 12,300 k.w. capacity. 80 passenger
and 17 other cars.
OFFICERS.— Pros.. Geo. J. Baldwin; V.-Ps., Chas. F. Wallace and
Harry H. Hunt; Treas., Henry B. Sawyor; Sec. & M gr., Howard O. Foss,
Savannah; Asst. Sec., Alvah K. Todd, Boston.; Gen. Mgrs., Stone &
Webster M gt. Assn.— V. 102, p. 1437; V. 103, p. 140; V. 104, p. 1593.
SCRANTON, PA.
SEATTLE, WASH.
[V ol . 107
ELECTRIC RAILWAYS
123
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS—
5 g A-O $1,182,000 Oct 11923
East Wise Ry & Lt 1st M g 1903
($1,000).......................c*tf Int. at First Sav. & Tr. Co., M llw., Trusteo.
5 g J-J
1.580.500 July 11946
Sheboygan Elec ref & tmpt M, 1916
Interest payable In Milwaukee or N. Y.
g ($1,000 & $500)-----c*tf
5%
,
1926
Sheb Ry S E lectric.________ ______
c
BONDS.— $2,997,500 East. Wise. Elec. Co. 1st & ref. M . 5% bonds are
reserved to retire prior liens. Additional bonds may be issued for 75% or
the actual cost of permanent additions and improvements under conservative
restrictions. Callable at 105 and int. on Mar. 1 1922 or any int. date there
after. Sinking fund : 1% per ann. of bonds outstanding in 1922 to 1931:
I U % 1932 to 1941; 2% 1942 to 1946: to be used for retirement of bonds or
Tor exts. and addns. against which no additional bonds may be Issued.
Trustee, Wisconsin Trust) Co.. Milwaukee. V. 104. p. 1145.
The Eastern Wise. R y. & Lt. Co. 1st 5s are red. on any int. date at 103
and int. on 6 months’ notice. The Sheboygan Elec. ref. & lrnpt. 5s are
callable at 105 and Int. on July 1 1921 or any int. date thereafter, sinking
fund 1% per ann. of bonds outstanding in 1920 to 1930; 1H % 1931 to 1940;
2% 1941 to 1945; to be used for retirement of bonds or for exts. and addns.
Trustee. Wisconsin Trust C o., Milwaukee.
Dividends.— Divs. on pref. stock were begun in June 1917.
EARNINGS.— Combined statement of consolidated companies Tor 12
months ending Jan. 31:
’
1917.
1916. I
1917.
Gross earnings...$958,633 $860,809 Bond Interest.......................$204,100
Net.aft.tax.Amain. 411.222 346,4871B alance............................... 207.122
No later statement available.
OFFICERS.— Chairman o f Board, Frederick S. Pratt; Pres., A. W .
P R O PE R TY.— Gas plant and
miles of gas mains in Fond du Lac;
Leonard; V .-P .. W . II. McGrath; Clerk. William T . Crawford; Sec., James electric-distribution system and 42 electric-generating plants, combined
3
B. Howe, Seattle; Treas.. Henry B. Sawyer: Gen. Mgrs., Stone S Webster capacitv of 6,500 h. p. in Sheboygan, Fond du Lac and Oshkosh; street rail
c
H gt. Assn.— V. 105, p. 2185; V. 106. p. 190. 397, 930, 1231, 1462, 2011, way anil interurban lines over lOO miles of single track. The greater part
2V46, 2560, 2650; V. 107, p. 292, 402, 604, 906, 1005.-1102, 1193.
of the interurban lines is laid chiefly with 70-lb. T rails, and with the excep
tion of that portion from Oshkosh to Neenah and within city limits is located
SEATTLE & RAINIER VALLEY R Y .
j
,
right of way. Additional 5,000 k.w. steam
unit is to be
Possible Purchase by City.— In connection with the proposed purcliaso of on private and high-tension transmission lines will be turbineImmediately.
built
the city lines o f the Puget Sound Trac., Lt. & Pow. Co. the city officials installed,
Also hydro-electric power sites on the Wisconsin and W olf Rivers capable
plan to lease or purchase the city lines o f this company, both systems to of estbnated development of over 20,000 h.p. A new gas plant at I end du
<
M consolidated and operated as one.
„
„
. ..
ORGA N IZA TIO N .— lncorp. In Del on June 8 1916 as eucccesor to the Lac with a 500,000 cu. ft. holder was to have been placed in operation by
Seattle Renton & Southern R y., which was bid in at foreclosure sale on ^O FFH JE r I'.— Pres., Joseph H. Brewer; V .-P ., R. H. Smith; Troas.,
May 12 1916 by Attorney John O. Higgins, representing the bondholders Willis J. Ripley; See., Blaine Gavett. Under management of Kelsey.
(there woro $825,000 1st 5s outstanding) and common claimants under the Brewer A C o., Grand Rapids, Mich.— V. 104, p. 1145; V. 106, p. 924,1688,
plan o f reorganization. V. 102, p. 2078.
In Apr. 1917 reached a settlement with city over franchise difficulties 2122; V. 107, p. 1100, 1192.
and co. was awarded a judgment of $41,700 against city because of changes
In grades on Rainier Ave., &c.
■
In Nov. 1917 applied to the City Council for permission to abolish the
SHREVEPORT RA ILW A YS CO.
^
tl
_
,
4-«ent fare and to charge 2 cents for transfers to other lines.
ORGAN IZATION .— Successor of the Shreveport.Traction Co., the franHas $250,000 com. stock and $110,000 prof, stock (par $100) auth. and cnises and properties of which company were purchased in July 1914 by the
•upstanding. Also has outstanding $374,880 6% 1st M . bonds, $577,500 Shreveport Railways Co. Shreveport Trac. Co., in turn, succeeded the
3% Gen. M . bonds and $400,000 6% Income M . bonds.
Shreveport Belt Ry. Co. and Shreveport City R R .. chartered in 1870. and
EARNINGS.— For year ending Dec. 31 1917, gross, $307,290; net, purchased the Highland Park Trac. Co. and the Shreveport City Suburban
$89,589. In 1916, gross. $306,438; net. $95,855. , _ ,
,,
, Ry. Owns and operates entire street railway system In city of Shreveport.
ROAD.— 24.863 milas of track, from Seattle via Columbia City and
Franchises.— In 1912 all franchises of the company wore extended until
Dnnlap to Renton. Rails, 60, 70 and 75-lb. T . Standard gauge. 34 1954. All franchises are free from burdensomo restrictions.
passenger cars, 19 freight cars and 1 locomotive.
„ w
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
OFFICERS.— Pras., Marshall E. Sampsell. Chicago; V .-P ., E. M . Mills;
_ _____
_
_________ $ 1 ,0 0 0 ,0 0 0 ____________
« c n . M gr., Walter Brown; Treas., Edgar W. Peck; Sec., M . Murphy.— stock g '2 non noo
1st M ser gold bds $3,000.000? 1914
5 g J-J
800.000
See text
V. 102, p. 2343.
_______
($100, $500 k $1,000) c* tflin t, at Hibernia Bk. & Tr. Co N. O trust.
Bonds— Redeemable at 103 and interest. The $800,000 bonds issued
mature in annual installments as follows (par value $1,000. ex
cept for $50,000 of $500 bonds and $20,000 of *100 bonds due in 1944) ;
SELMA TRACTION COMPANY.
ORGANIZATION.— Organized in Mar. 1918 to take over and operate $10 000 1918 and 1919: $15,000 1920 and 1921; $20,000 1922 to 1927:
the properties o f the Selma Street S Suburban R y., sold at foreclosure 125.000 1928 to 1932; $30 000 1933 to 1937; $25,000 1938 to 1942; $20,000
c
1943; $210,000 1944. Tho remaining $2,200,000 will fall due annually as
March 14 1918.
.
STOCK AND BONDS.— Date.
Interest. Outstanding. Maturity. follows (oar S1.000 except $100,000 of $500 bonds and $80,000 of $100
bonds d ueIn 1944); *5,000 1925 to 1937: $15,000 1938 to 1942; $20,000
••mmon $10,000 ($100)------- --------------------None
First mtge $50,000 ($1,000)/ 1918
5 g M-S 15 $50,000 Mar 14 1948 1943. and $2,040,000 In 1944. These remaining $2,200,000 bonds may be
certified and Issued from time to time for Improvements, extensions, addi
gold
_
______ c*& rjD. L. Gerould, Trusteo.
Second mtge $25,000 ($1,000) / 1918
5 g M-S 15
26,000 Mar 14 1938 tions, See. , under certain restrictions (V. 99. p. 199).
REPORT.— For year ending Dec. 31 1916, gross, $290,829; net, $92,785:
g o l d ________________c*&r\C. B. Ayers, Trasteo.
Interest, $45,432; surplus. $47,353. In 1915. gross $243,151.
Bonds.— Have no sinking fund provision and are not subjoct to call.
ROAD. Ac.— Operates about 31 miles of track; 60. 70 and 80-Ib. rail.
ROAD.— Operates a little over 8 milas of track in and around Selma,
Owns and operates its own power plant. 19 single truck and 19 double
laid with 40, 56 and 116-lb. T rail. Standard gaugo.
OFFICERS.— Pres. & Gen. M gr., J. D . Woodard; Sec.-Treas., Hugh truck passonger cars; 4 work cars and 1 mlsc. car.— V. 99. p. 50, 199.
Mallory.— V. 106, p. 1462.
Tacoma Railway & Power Co.— $264,000 are held by Puget Sound Electric
« » . Are not subject to call.
,
Pacific Traction Co.—$500,000 were Issued to retire a like amount or oia
First M . bonds; entire $500,000 now in treas. Remaining bonds reserved
for future additions and improvements, under restrictions. Subjoct to call
at 105 and int. at any time. Sk. fd. of 1% o f bonds outstanding began
Jan. 1 1914. Bonds are guar. p. & 1. S sink, fund by Puget Sd. El. Ky.
c
Whatcom County Ry. & Light Co.— Callable as a whole on any int. date
at 105 and int. Sk. fd. o f 1 % per ann. of bonds outstanding, ir earned, com
menced Nov. 1 1906; on Nov. 1 1911 became obligatory. $357,000 bonds
have been canceled, o f which $111,000 by sk. fd. Mortgage Is closed.
Dividends.— On prof.. 1H % quar. from organization to April 1915. In
July 1915 paid only *A%; same rate quar. to and inch Oct. 1917. Jan.
1918 dlv. passed (V. 106, p. 190). On com., first div.— 1% — paid April
1912- July, 1%; Oct., 1% . In 1913, 4 % . In 1914, Jan., 1%; April, 1% .
July. 1% . October dividend passed (V. 99. p. 895), and none paid since;
EARN INGS.— For year ending June 30:
,
_
,
Year—
Gross. Net (aft. Tax.). Interest. Sink. Funds.
Survive.
1917-18______$10,513,264 $3,964,598 $2,106,732 $395,727 $1,462,139
1916-17______ 8,812,115
3,475,971
1,893.083
362,282 1,220,607
P R O PE R T Y .— Power stations nave 90.930 k. w. capacity. Also pur
chases powor (Bellingham Division) from Western Canada Power Co.;
street and Interurban railwavs, 493.6 miles equivalent single track. Gauge,
electric, standard; cable, 3 ft. 6 in. and 3 ft. Passenger cars, 577 motor,
14 trail and 45 cable grip; 374 freight, mall and miscellaneous; 12 locomo-
SHREVEPORT, LA.
■
SELMA, ALA.
SHAMOKIN, PA.
SHAMOKIN & MT. CARMEL TRAN SIT CO.
^
ORGAN IZATION .— Is a consolidation in July 1906 of tho Shamokln S
c
M t. Carmel Electric Ry. and the Ashland S Oentralla Electric R y. V. 83.
c
SIOUX CITY, IOWA.
O IULANIZATI(5n ,^A(Y— 1ncorporated on June 7 1905 In New Jersoy
In March 1909 increased capital from $250,000 to $2,000,000, In order to
acquire stock of Sioux City 'Inaction Co. V. 88, p. 1129. t ranchises of the
Sioux City St. Ry. (succeeded by Sioux City Traction) run for 50 years from
1889; other franchises run for 25 years from 190S. These latter aro on the
terms of 5-cent fares with transfers and 2% or gross earnings aftor the city
has a population of 75.000.
,
Operates all street railway lines In Sioux City, and soils electricity and
steam heat for commercial purposes.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
P’ Fare Increase.— In Dec. 1917 the Penna. P. S. Comm. auth. an increase
in fare between Shamokln. Kulpmont. M t. Carmel. Oentralla and Ashland
from 5 to 6 cents. In Juno 1918 was ordered by the Penn. P. S. Comm,
to furnish excess payment slips pending the outcome o f a hearing on these
rates. V. 106, p. 2650.
„
„ , „
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $700.000.................................................
*§29,250 ...................
Pref $300,000 6% n on -cum .................................
261.850
------ li?&k i 2 ; T S « “ oo.6o6i K i o
W i m s
New mortgage $600,000------- / 1906
5%
415.000
1930
I
Penn. Co. for Ins. on L. & O. A.. Phila.. trus
EARN ING S.— For year ending Dec. 31 1917. gross, $197,961; net, after
000 gold ($1.000).........c*tin t, at Bk. of Montreal. Chic, or N .Y .. trus
Bonds.— $750,000 1st A rer. bonds
RO’A D .— Operates 19.8 miles of track between Ashland and Centralia. aro for additions and Improvements atare reserved for prior lions, $2,759,000
75% of cost, and $151,000 have been
• FFICERS.— Pres., E. W. Samuel, M t. Carmel, Pa.; Sec., J. D. M cRed. at 105 and Int. on any Int.
••nnell; Treas., Wm. Keefer Jr., M t. Carmel; Supt., A. Howard Thomas. retiredIn 1913. which by 1928 will aggregatedato after 1915. Sinking fund
began
$1,200,000. Interost payablo
Shamokin.— V . 105, p. 2457; V. 106, p. 2650.
In New York and Chicago. V. 90, p. 1555.
EARNINGS.— For 12 mos. ending M ay 31:
12 Months—
Gross.
Net.
Int.,Tax.,Ac.
Surplus.
...................$978,556
$264,677
$167,039
$97.63*
1917-18
SilAWNEE-TECUA1SEH TRACTION CO,
„
. ’
1916-17
__________ 927.280
314,341
119,955
16T.386
ORGAN IZATION .— Incorporated In Oklahoma on Feb. 13 1906
R O A D . — Operates over 51 miles of track (of which 7 miles on private
Franchises are perpetual and exclusive for 25 years.
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity. right o f w ay). 60 and 80-lb . rails. 89 cars.
OFFICERS.— Pres.. Robt. J. Dunham; V.-P., II. A. Chatham; Sec. &
Stock $500,000 ($100)...................................... ..
*500,000 --------------Treas., J. H. Ricker; Gen. M gr., E. L. Kirk.— V. 99. p. 010First mortgage $1,000,000/ 1906
5 g J-D
300.000
1926
(SI.000) gold................ c*\Int. at Equitable Trust C o.. N . Y „ trustee.
Bonds.— Can be called in 1916 at 105. No sinking fund.
EARNINGS.— For 12 mas. ending Doc. 31 1917, gross, $51,645; net,
CHICAGO SOUTH BEND & NORTHERN INDIANA R Y — Trolley
$9,414. In 1916, gross. $49,918; net, after taxes, $1,798.
^
.
ROAD.— Operates 12 miles o f track in Shawnee and between Shawnee and f°O R G A N IZA TIO N .— Incorporated In Indiana in Jan. 1907 as successor
Tecumseh. Standard gauge. 60 and 70-lb. T rail.
, _
to the Northern Indiana R y.. which had consolidated tho Indiana R y., the
OFFICERS.— Pres. & Treas.. Louis K . Hyde; Sec.. W . M . Cutlip; South Bend La Porto & Michigan City R y., the Michigan City Electric Co.
M gr., R . D. Long.
_______
and the Michigan City Traction Co. Franchise perpetual In Mishawaka,
Goshen, South Bend. La Porte and Michigan City; in Elkhart expires in
1957. Operates all local electric lines In above cities and the interurban
line joining them.
,
,
...
EASTERN WISCONSIN ELECTRIC CO.
,
Default— Committee — Upon the announcement by the co. that 1* would
ORGAN IZATION .— lncorp. Feb. 21 1917 to take over the properties
of the Sheboygan Electric C o., the Eastern Wisconsin R y . tc Light Co. and bo unable to pa" tho int. due July 1 1918 and that plans Tor a reorganization
the Wisconsin Electric Ry. (Soe “ Elec. R y .” Section for Jan. 1917). Owns were under consideration the following protective commlttoo was formed:
Committee for 1st M . 30-Year 5s.— Chairman, Geo. C. Van Tuyl Jr.;
and operates the electric-lighting, power and street railway systems In She
boygan and Fond du Lac, gas in Fond du Lac, street railway in Oshkosh, L. H. Gethoefcr, David Taylor, Wm. II. Pritchard, Frank Coonen and
Jas. F. McNamara. Sec., 60 Wall St.. N .Y . City. Depositary: Metro
and about 70 miles o f interurban lines connecting Sheboygan and Elkharl
Lake, Fond du Lac and Oshkosh, Oshkosh and Neenah. and Oshkosh and politan Trust C o ., N. Y. City. V. 107, p. 291. Tho committee ha* called
Omro. Power is sleo sold in Plymouth, Elkhart Lake and Sheboygan for deposits of bonds and as of July 17 issued a statement stating that a
Falls. Franchises.— Operates under Indeterminate permits as provided considerable amount of bonds had already been deposited and urging those
who had not yet deposited to do so. especially in viow of tho fact that default
by Wise. P. U. Law, and is thus protected from competition.
Fare Increases.— In April 1918 was auth. by the Wisconsin RR. Comm. had also occurred In payment of Interest upon underlying bonds. Y. 107,
t» eliminate all fares of less than 5 cents, and in Aug. 1918 a general in
atu
Date.
Interest. Outstanding. M rity.
crease in interurban fares was granted. In Sept. 1918 tho ticket rate p STOCK AND BONDS—
between Sheboygan and Elkhart Lako was increased from 1.9 to 2.9 cents Common $5,000,000 ( $ 1 0 0 ) . . ...........................
Pref $2,500,000 5% c u m \ ...........................
2,500.000
per mile. V. 107, p. 1100.
($100) after Jan 1 1909--Rate Increase— Was auth. by the Wise. RR. Comm, to make a surcharge
1907 6 g J-J
•f 'A cent per lc. w. h. on all lighting and power business, effective May 1 ’ 18. New first mtge $5,000,000 Int. at Central Trust2,489,000 YJan 1 1937
Co., N. ., trustee.
gold ($1,000)...................tf
Hi Aug. 1918 was auth. to increase gas rates 27 'A cents per 1,000 cu. ft.
588.000 Jan 1 1930
Nor Ind Ry let cons M $4, 1906 5 g J-J
STOCK AND BONDS—
Dale. Interest. Outstanding. Maturity.
000.000 gold ($1,000) — tf Int. at U. S. Mtge. & Trust C o.. New York.
$700,000
.......... ..
Common stock. $2.000.000......................................
1.000.000 Jan 1 1930
Indiana Railway first mort 1901 5 g J-J
Prof stock. 7% . $5.000,000.............
Q-M
1.445.000 Sept ’ 1 8 ,1 H
gage $1,000,000 gold ($1. Girard Trust Co.. Philadelphia, trustoe.
1st & ref M $20,000,000 g\ 1917
5 g M-S
1,390.500 Mar 1 1947
Interoet at Standard Trust Co., Now York.
($500 & S1.000)c»_._.........I Interest payable in Milwaukee or N. Y.
000).........................
312,500 July l 1930
La Porte & Michigan City T r 1905 5 K J-J
Underlying Liens—
first mtge $350,000 ($500) Interest at First Trust & Savings Bank.
Fond du Lac Ht Ry S L mtgo\ 1899
c
5 g J-J
133.500 July 1 1924
Chicago, 111.
sinking fund subj to ca ll.tf
$250,000 ($500) g .r& c*n tf/ Int. at Nat. Exch. Bank. Milwaukee.
SHAWNEE, OKLA.
SOUTH BEND, IND.
SHEBOYGAN, WIS.
ELECTRIC RAILWAYS
Se p t ., 1018. |
B o n d s .— O n t h o I n d i a n a R y . 1 s t 5 s a s i n k i n g f u n d o f $ 1 0 , 0 0 0 p o r a n n u m
b e g a n J a n . 1 1 9 0 5 : b o n d s t o b o b o u g h t In o p e n m a r k o t .
A r e n o t s u b je c t to
c a ll.
N o r t h e r n I n d ia n a 1st c o n s o ls a r e s u b je c t t o c a ll.
See V . 8 2 , p . 568.
O n t h o L a P o r t o & M ic h ig a n O it y T r a c t io n C o . b o n d s a sin k in g f u n d o f 1 %
p o r a n n u m o f b o n d s o u t is o p e r a t i v e f r o m 1 9 1 0 t o 1 9 1 4 : f r o m 1 9 1 5 t o m a
tu r ity , 2 % p e r a n n u m .
O f t h e n o w f i r s t m o r t g a g e b o n d s , $ 4 9 1 , 0 0 0 a r e in
t r e a s u r y , $ 1 ,9 0 0 ,5 0 0 a r e r e s e r v e d t o r e t ir e p r io r lie n s , a n d $ 1 1 8 ,5 0 0 fo r
im p r o v e m e n ts .
,
.
,
. . . .
T h e I n d ia n a R y . 2 d M . 5 % b o n d s , d u o A u g . 1 1 9 2 4 . w e r e c a lle d fo r p a y
m e n t o n F e b . 1 1 9 1 7 a t 1 0 5 a n d in te r e s t.
E A R N I N G S .— -F o r y e a r s e n d in g D e c . 3 1 :
Y ea r—
G ross.
N e t.
O th . I n c . T a x e s .
In ter es t. S u rp . o r D e f.
$ 2 2 0 ,3 6 1
$95
$ 3 4 ,7 2 2
$ 2 2 7 ,4 8 9
d o f.$ ll,7 5 5
1917
_ ........... . . $ 7 9 1 , 9 5 6
1 9 1 6 ........................ 8 6 3 , 6 9 3
3 4 7 .0 2 0
541
3 4 ,2 4 6 2 3 3 ,5 1 2
s u r . 8 9 ,8 1 2
R O A D . — O p e r a t e s 1 1 9 m i l e s o f t r a c k in S o u t h B e n d . M i s h a w a k a , E l k
h a r t . G o s h e n , L a F o r t e . M ic h i g a n C i t y a n d in t o r u r b a n lin o s b e t w o o n t h o s e
p o in t s .
G a u g e . 4 f t . 8 1 4 I n .: 7 0 t o 1 0 0 - lb . T r a il .
O w n s 109 ca rs an d
1 1 s s u b s s aa i o o n s .
11
u b - -tt tti n s.
•
F F IC
O F F I C E R S .— P r o s .. C h a r le s F . D ie t e r ic h , N e w Y o r k : 1 s t V . - P . . C . M .
M u r d o c k , L a fa y e t t e : T r e a s ., A . E . D ie t e r ic h : S e c .. S . T . M u r d o c k ; G e n .
.
M g rr.., I tt. . I t . S m i t h ________ . _________ G . V . C a r r i e r ; P u r c h a s i n g A g e n t , I t . E .
____________ ; G e n A n d . ,
C e r a w e ll.— V . 8 4 , p . 2 7 0 ; V . 1 0 7 , p . 2 9 1 , 6 0 3 .
S O U T H E R N M I C H I G A N R A I L W A Y .— A tr o lle y r o a d .
Is c o n tr o lle d b y s a m e In te re sts a s C h ic . S o u th B o n d . & N o r th e r n In d ia n a
O R G A N I Z A T I O N .— O r g a n iz e d o n F e b . 8 1 9 0 6 a s a c o n s o lid a t io n o f th e
S o u th B o n d & S o u th e r n M ic h ig a n R y . a n d th o N ile s k B u c h a n a n R y .
F r a n c h i s e In S t . J o s o p h e x p i r e s i n 1 9 3 5 ; i n B e r r i e n S p r i n g s I n 1 9 3 5 ; i n N i l e s
in 1 9 3 2 , 1 9 3 5 a n d 1 9 3 6 : i n S o u t h B e n d , p e r p e t u a l .
STO CK A N D BON DS—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 2 . 0 0 0 . 0 0 0 ..................... - ...................................................
$ 2 .0 0 0 .0 0 0
-----------------------F ir s t c o n s o l m t g o $ 1 ,9 8 0 ,0 0 0 ? 1 9 0 6
5 g
4 0 0 ,0 0 0 M a r 1 1931
g o l d ( $ 1 . 0 0 0 ) _______________ t f l l n t . a t U . S . M t g o . & T r u s t C o . . N e w Y o r k .
S o u th B e n d & S o u M ic h ig a n [ 190 2
5 g A -O
7 5 0 ,0 0 0
O c t 1 1927
fir s t m t g o $ 7 5 0 ,0 0 0 g o l d ! I n t e r e s t a t H a r r is T r u s t k S a v in g s B a n k .
( $ 1 , 0 0 0 g u a r p & i ) ____c * t f l
C h ic a g o , tr u s te e .
B o n d s .— O f t h o $ 1 ,9 8 0 ,0 0 0 c o n s o ls , $ 7 5 0 ,0 0 0 a r e r e s e r v e d f o r p r io r lio n s
a n d $ 7 5 0 ,0 0 0 f o r b o t t o r m o n t s a n d e x t e n s io n s .
T h o s e b o n d s a ro s u b je c t to
c a ll o n a n y in t . d a t e a t 1 0 5 .
T h e f o ll o w in g a m o u n t s a r o p a y a b l e a n n u a lly
In to a sin k in g fu n d fr o m M a r c h 1 1909 to F o b . 2 8 1 9 1 5 : 1 % o f b o n d s o u t
s t a n d in g . fr o m M a r c h 1 191 5 t o F e b . 2 8 1 9 2 5 ,I H % o f b o n d s o u t ; a n d fr o m
M a r c h 1 1925 t o F e b . 28 1 9 3 1 .2 % o f b o n d s o u t .
T h o S o. B on d & S o . M ic h ,
b o n d s a re n o t s u b j. t o c a ll.
$ 5 ,0 0 0 p o r a n n . is p a y a b l e i n t o a s i n k i n g f u n d o n
' th e s e b o n d s , c o m m e n c in g J a n . I 1907
S e e V 8 2 . p . 1 1 5 8 . a n d V . 8 3 p 4 0 .3
E A R N I N G S . — F o r 1 2 m o n t h s e n d i n g D e c . 31 1 9 1 7 , g r o s s , $ 2 3 4 , 2 9 9 ;
n o t , $ 1 0 5 ,2 4 7 .
I n 1 9 1 6 , g r o s s , $ 2 3 3 ,4 3 7 ; n e t , $ 1 0 6 ,9 4 8 .
In 1 9 1 5 , g ro s s ,
? t l!b V D .— O p e r a im a lin o f r o m S o u t h B o n d t o S t . J o s o p h .
T o ta l tra ck ,
3 5 m ile s .
S ta n d a r d g a u g e ; 7 0 -lb . T r a il.
H a s 12 m o t o r c a r s , 2 b a g g a g e
a n d ex p ress ca rs a n d 4 s u b -s ta tio n s .
G e n e r a l E le c t r ic a n d W o s tin g h o u s e
e q u ip m e n t.
P u rch ases p ow er.
O F F I C E R S .— P r o s ., C h a s . F . D ie t e r ic h . N o w Y o r k : V . - P , , C lia s . M .
M u r d o c k ; T r e a s ., A . E . D ie t e r ic h , N e w Y o r k ; S e c ., S . T . M u r d o c k ; G e n .
M g«
It. I t . S m it h ; A u d ., O . A . S m a ll; P u r c h a s in g A g e n t , R . E . C o r n w e ll.
— t . 83, p. 493.
_
SPARTANBURG. S. C.
SO U TH
C A R O L IN A
L IG H T ,
PO W ER
&
R A IL W A Y S
CO .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In M a s s . J u n o 21 1 9 1 2 a s a c o n s o l i d a
t i o n o f t h e S p a r t a n b u r g R y . , O a s & K l e e . C o . a n d tin t E l e c t r i c M f g . & P o w e r
C o . D o e s t h o e n t i r e e l e c t r i c l i g h t a n d p o w e r , g a s a n d s t r e e t r y . b u s i n e s s in
S p a r t a n b u r g a n d t h e e n t i r e e l e c t r i c l i g h t a n i l p o w e r b u s i n g s In G a f f n e y ,
C o w p e n s . W o o d r u ff, B la c k s b u r g , P a c o ie t , C lift o n a n d C o n v e r s e , S . O .;
a ls o o p o r a t o s a n ln t e r u r b a n lin e t o G le n d a lo a n d C l i f t o n , a d is t a n c e o f a b o u t
10 m ile s .
H a s th o r ig h t o f e m in e n t d o m a in (c o n fir m e d b y t h e S t a t e S u
p rem e C o u rt).
F r a n c h i s e s c o n t a i n , i t is s t a t e d , n o o b j e c t i o n a b l e r e s t r i c
tio n s a n d ru n b o y o n d M a y 1 1 9 3 7 o r a r e u n lim ite d a s t o t im o .
STO CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 3 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) .......................................- - - - - - $ 2 , 5 0 0 , 0 0 0
............................
P r o f 6 % c u m $ 1 ,5 0 0 .0 0 0 ($ 1 0 0 ) - - - „
Q rJ
„ 7 0 0 .0 0 0 J u l y '1 8 . U 4
F ir s t m o r t g a g e s in k i n g f u n d ? 1 9 1 2
5 g M -N
3 ,4 9 7 ,0 0 0 M a y 1 1937
$ 5 , 0 0 0 , 0 0 0 g o l d . . ............ c * t f \ N e w Y o r k T r u s t f o . , N e w Y o r k , t r u s t e e .
S t o c k . — i ’ r e f e r r e d s t o c k Is p r e f e r r e d a s t o a s s e t s a n d d i v s .
R od . at any
t im e a t 115 a n d a c c r u e d d iv id e n d s .
T a x - e x e m p t in M a s s a c h u s e t t s .
B o n d s .— A d d i t i o n a l 1K in d s m a y b o i s s u e d o n l y f o r t h o a c q u i s i t i o n o f
p r o p e r t y , e x te n s io n s , A c ., u n d e r c o n s e r v a t iv e r e s t r ic t io n s .
O f th o a m o u n t
r o p o r t o d o u t s t a n d i n g $ 1 5 5 ,0 0 0 is h e l d in t h o t r e a s u r y .
I n t . p a y a b l e in
N ew Y ork an d L on d on .
D o n o m . $ 1 ,0 0 0 (£ 2 0 5 9 s . 8 d . ) .
S in k in g f u n d o f
1 % o f b o n d s o u t s t a n d in g , t o r e tir e b o n d s o r f o r e x t e n s io n s a n d a d d i t io n s ,
began N o v . 1 1915.
R o d . a t 105 a n d in t. o n a n y in t. d a t e .
V . 96, p . 136.
D i v i d e n d s .— D i v i d e n d s a t t h o r a t e o f 6 % p o r a n n u m o n t h o p r o f , s t o c k
a r e b o in g p a id r e g u la r ly .
E A R N I N G S .— F o r 12 m o n t h s e n d in g D e c . 3 1 :
C a l.
G ross
N e t (.a ft e r
B ond. ,t c .,
P r e f. D iv s .
B a la n c e .
Y ea r—
E a r n in g s .
T a x e s ).
In ter es t.
(6 % ).
S u r p lu s .
1 9 1 7 ..................... . $ 5 2 3 , 6 1 3
$ 1 9 2 ,5 7 9
$ 1 7 2 ,6 3 2
$ 4 2 ,0 0 0 d e f .$ 2 2 ,0 5 3
1 9 1 6 ................... . . 4 3 3 , 9 8 3
1 7 8 ,7 0 5
1 5 3 ,0 0 6
4 2 .0 0 0
1 6 .3 0 1
P R O P E R T Y . — O w n s a n d o p o r a t o s 21 m ile s o r c i t y a n d I n t o r u r b a n s t r e e t
r a llw a v : s ta n d a r d g a u g e .
6 5 a n d 7 0 -lb . T r a il.
21 c a r s .
H y d r o -e le c tr ic
p la n t h a s g e n e r a t in g c a p a c i t y o f 1 2 ,0 0 0 h . p .
I m p r o v e m e n t s n o w b e in g
m a d e w ill in c r e a s e c a p a c i t y a b o u t 1 4 % .
A u x ilia r y s te a m p o w e r p la n t ,
4 500 h . p .
G a s p la n t h a s a c a p a c it y o f 2 5 0 ,0 0 0 c u b i c fe e t d a lly .
’ O F F I C E R S --P r o s .. P . G
d o s s ie r . N . Y .; V .-P . k G e n . M g r .. F
ll.
K n o x , S p a r ta n b u r g ; S e c . k T r e a s ., F . B . L a s h e r , N . Y . — V . 1 0 6 . p . 1 1 2 4 .
SPOKANE, WASH.
S P O K A N E & IN L A N D E M P IR E R A IL R O A D C O .
In D e c . 1 9 0 9 G r e a t N o r th e r n R y . a c q u ir e d c o n t r o l. V . 8 9 , p . 1 5 9 8 .
O R G A N I Z A T I O N . — I n c o r p o r a t e d I n W a s h i n g t o n J a n . 1 5 1 9 0 6 . a n d Is a
c o n s o lid a t io n o f th e C o e u r d A le n o & S p o k a n e R y .. th o 8 p o k a n o T r a c t io n
Co
th o S p o k a n o T e r m in a l C o . a n d th o S p o k a n e k In la n d R y .
N . W
H a r r is & C o . . H a r r is T r u s t k S a v in g s B a n k a n d E . I I . R o ll in s k S o n s
o ffo r o c i t h o b o n d s fo r s a lo .
H a s a l i g h t a n d p o w o r f r a n c h i s e in S p o k a n o .
T r a n s p o r t s a ll k in d s o f h e a v y a n d lig h t f r e ig h t t r a f f i c , a s w e ll a s p a s s e n g e r s ,
a n d e x c h a n g e , fr e ig h t w ith s t e a m r o a d s .
A s t o p o s s i b l e l e a s e o f l i n e s in S p o k a n e t o o r c o n s o l i d a t i o n w i t h t h o W a s h
in g t o n W a t e r P o w e r C o ., s e e th a t c o m p a n y b e lo w .
F a r e s .— I n J a n . 1 9 1 8 file d w it h t h o W a s h . I . S . C o m m , a n o w fa r o
s c h e d u le , e f fe c t iv e F e b . 1 1 9 1 8 , in c r e a s in g th e r a t e fo r s c h o o l t ic k e t s t o
4 c e n t s e a c h a n d d i s c o n t i n u i n g t h o s a l e o f 11 t i c k e t s f o r 5 0 c e n t s a n d 1 1 0
tic k e ts fo r 5 d o lla r s .
V . 100, P- 500.
STO CK A N D BON DS D a te .
I n ter es t.
O u tsta n d in g .
M a tu rity .
C o m m o n $ 1 0 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) .....................................................$ 1 0 , 0 0 0 , 0 0 0
............................
P r e f e r r e d r lg h tii $ 1 0 ,0 0 0 .0 0 0 1
_
( $ 1 0 0 ) . 5 % ( s e e t e x t ) .............- c
Sp*
6 . 4 0 9 . 1 0 0 O c t 2 0 '0 7 . 1 Y<
F ir s t a n d r e f u n d in g m o r t g a g e ? 1 9 0 6
5 g M -N
3 .0 8 8 ,0 0 0 M a y 1 1 9 2 6
$ 1 5 ,0 0 0 ,0 0 0
g o ld
( S I , - ( I n t . a t F J r s t T ru sty k 3 a v . . C h i c a g o , t r u s t o o ,
o r a t F ir s t N a t io n a l B a n k , N e w ’ Y o r k .
0 0 0 ) ............................................ c * t f
1905
6 R J -J
9 3 ,0 0 0 S e e t e x t
S p o k a n e T r a c 1st M $ 1 ,0 0 0 ,
0 0 0 g o l d ( $ 1 . 0 0 0 ) _____ c & r t f I n t . a t T l t l o G u a r , k T r u s t C o . . N . Y . t r u s .
1903
5 g J -J
4 4 2 .0 0 0 J a n . 1 1 9 2 9
O d ’ A k S 1 s t M $ .5 0 0 ,0 0 0 g
($ 1 0 0 . $ 5 0 0 & $ 1 .0 0 0 )-C * t f I n t . a t T it le G u a r . & T r C o . N . Y . . tr u s te e
1905
5 g F -A
1 8 8 .5 0 0 S e e t e x t
S p o k a n o T e r m in a l 1st m tg o
8 a v . B a n k , C h i
$ 5 0 0 ,0 0 0 g o l d
($ 5 0 0 a n d I n te r e s t a t F ir s t T r u s t k
_______ .................... ... . _ c * t f
c a « o . tr u s t e e , o r a t F ir s t N a t . B a n k . B o s t .
8 1 . 0 0 0 ) . ...........................................
B u n d s .— O f t h e $ 1 5 , 0 0 0 , 0 0 0 f i r s t a n d r e f u n d i n g b o n d s . $ 9 8 9 , 0 0 0 a r e r e
s e r v e d t o r e t ir e $ 7 5 1 .0 0 0 b o n d s o f t h e s u b s id ia r y c o m p a n ie s a n d $ 1 0 ,0 0 0 ,0 0 0
fo r 7 5 % o f c o s t o f p e r in a u o n t e x t e n s io n s a n d a d d it io n s , b u t o n l y w h e n th e
n o t e a r n in g s f o r t h e p r e c e d in g 12 m o n t h s h a v o b e e n a t le a s t t w ic e t h e a n n u a l
I n t e r e s t c h a r g e o n a ll b o n d s o u t s t a n d i n g a n d t o b o Is s u e d .
A r o s u b je c t to
c a ll fr o m M a y 1 1911 t o N o v . 1 1 9 1 5 a t 107>4 a n d I n t .; t h e r e a ft e r a t 105 a n d
In t.
O n e p e r c e n t o f b o n d s o u t s t a n d i n g is p a y a b l o t o a s i n k i n g f u n d f r o m
1911 t o 1 9 1 5 . U 4 7 „ f r o m 1 9 1 6 t o 1 9 2 0 a n il 2 % f r o m 1921 t o 1 9 2 5 .
See
V . 83, p . 1291, and V . 86, p . 721.
$ 3 4 8 ,0 0 0 h a v o b o o n r e t ir e d .
T he Spo
k a n o T r a c . C o . b o n d s a r o ilu e $ 1 0 ,0 0 0 a n n u a lly fr o m J u ly 1 9 1 0 t o 1 9 1 4 a t
105 a n d in t .; $ 1 5 ,0 0 0 a n n u a lly J u ly 1 9 1 5 t o 1 9 2 4 a t 105 a n d I n t .; r e m a in in g
$ 7 0 0 ,0 0 0 o n J u ly 1 1 9 2 5 a t p a r a n d in t .
B o n d s a ro s u b je c t t o c a ll as a n
e n tir o ty a t 105 a n d In t. o n 6 0 d a y s ' n o t ic e . V . 8 1 . p . 8 4 1 .
T h e Spokane
T e r m in a l C o . b o n d s m a t u r e $ 1 2 ,5 0 0 o n A u g . 1 fr o m 1 9 1 0 t o 1 9 2 9 in c l. a n d
$ 1 0 0 ,0 0 0 o n A u g . 1 1 9 3 0 .
T h e u n i s s u e d b o n d s m a t u r e in 1 9 3 0 a n d a r e
s u b je c t t o c a ll a t 105 a n d In t.
O n t h e C o e u r d 'A I e n o k S p o k . R y . b o n t i s a
t i n k . f d . o f 5 % o f n o t e a r n i n g s Is p r o v i d e d . B o n d s a r o s u b j . t o c a l l a t 1 0 5 & i n t .
123
P r e f. r ig h ts b e c a m e c u m u la t iv e a ft e r J a n . 1 5 1 9 1 1 .
A fte r 5 % p a id o n
c o m m o n s t o c k , t h e p r e f. r ig h ts a r e t o s h a r e r a t a b ly w ith t h e c o m m o n s t o c k
u p t o 7 % b u t n o t h ig h e r .
P r e fe r r e d r ig h t s c a n b e r e d e e m e d a t a n y t im e a t
$ 135 p er sh are an d h a v e n o v o te .
D iv id e n d s .— F ir s t d iv i d e n d o n p r e f. r ig h t s — 1 \ i % — w a s p a id J a n . 2 0 1 9 0 6
a n d 1 )4 % w a s p a id A p r i l , 1 )4 % J u l y a n d 1 )4 % O c t . 1 9 0 7 .
N o n o s in c e .
R E P O R T .— F o r y e a r e n d in g D e c . 3 1 :
Y e a r e n d in g
G ross
N e t (a fte r
O th er
In ter es t.
B a la n c e ,
D ec. 31—
E a r n in g s .
T a x es ). In c o m e .
A -r
D efic it.
$ 3 4 ,2 6 7
$ 4 ,6 6 8
$ 5 0 0 ,9 3 7
$ 4 6 2 ,0 0 2
1 9 1 7 .......................................... $ 1 , 3 2 4 , 4 8 1
1 9 1 6 ............................................. 1 . 3 7 0 . 3 4 8
1 0 9 .1 6 2
4 .6 1 6
4 7 3 .7 3 1
3 5 9 ,9 5 3
R O A D . — O p e r a t e s 2 9 2 .3 5 9 m ile s o f t r a c k ( s in g le , d o u b l e , s id in g s a n d
s p u r s ) , in c l u d i n g li n e s in S p o k a n e a n d t o C o e u r d 'A l e n e a n d H a y d e n L a k e
o n th o o a s t; t o C o lfa x , P a lo u s e , W a s h in g t o n a n d M o s c o w , I d a h o , o n th e
s o u th : a n d a n e x te n s io n fr o m G r e e n a c r e s o n C o e u r d ’ A le n e D iv is io n t o
L ib e r ty L a k e .
O u t s i d e o f S p o k a n e t h e r o a d Is I n a c c o r d a n c e w i t h s t a n d a r d
s te a m r a ilr o a d s p e c i fic a t io n s .
C o m p a n y o w n s v a lu a b le p a s s e n g e r te r m in a l
a n d o f f i c e b u i l d i n g in t h o h e a r t o f S p o k a n e a n d f r e i g h t t e r m i n a l l o c a t e d
b e tw e e n t h e G r e a t N o r t h e r n a n d N o r t h e r n P a c ific te r m in a ls , a n d h a s
p h y s ic a l c o n n e c t io n w ith a ll r o a d s e n t e r in g S p o k a n o .
A ls o o w n s a h y d r o
e le c t r ic p la n t o f 2 0 .0 6 0 h . p . c a p a c i t y 9 m ile s b e lo w S p o k a n e .
O F F I C E R S .— P r e s ., F r a n k S . E llio t t ; V .- P . k C o m p ., W . F . T u r n e r ,
P o r t la n d ; V .- P . k T r a f f i c M g r ., W a l d o G . P a in e , S p o k a n e ; S e c . k T r e a s .,
W . G . D a v i d s o n , P o r t la n d : G e n . S u p t ., A . J . D a v i u s o n .— V . 1 0 3 ,'p . 1 6 8 8 ;
V . 105, p . 1999; V . 106, p . 500. 2118; V . 107, p . 697.
T H E W A S H IN G T O N W A T E R P O W E R C O .’ S S Y S T E M .— S p o k a n e
S t r e e t R a ilw a y , & c .
O R G A N I Z A T I O N . — C h a r t e r e d In W a s h i n g t o n M a r . 13 1 8 8 9 f o r 5 0 y e a r s .
O w n s a ll o f t h e p r o p e r t y fo r m e r ly b e lo n g in g t o t h e fo llo w in g c o m p a n ie s :
R o ss P a rk S treet R y . C o .
B ig B o n d P o w e r C o .
S p o k a n o C a b le R y . C o .
C it y P a rk T r a n s it C o .
S p o k a n e C o . E le c t r ic C o .
E d is o n E le c t r ic I llu m in a t in g C o .
S p o k a n o E le c t r ic R y . C o .
F a lls C i t y L a n d & I m p r o v e m e n t C o .
S p o k a n e S tre e t R y . C o
A r lin g t o n H e ig h t s M o t o r R y . C o .
P o s t F a lls W a t e r P o w e r C o .
O w n s th o e n tir e c a p it a l s t o c k o f th e I d a h o -W a s h in g t o n L ig h t k P o w e r
C o ., a c q u ir e d J u ly 1 1 9 1 3 , a n d t h e S t. M a r io s L t . k P . C o .
V . 97, p. 523.
O w n s a ll t h o w a t e r p o w e r o n t h e S p o k a n e R i v e r a t S fJ o k a n e , W a s h . , i n
c lu d in g fo r m e r p r o p e r t y o f S p o k a n e F a lls W a t e r P o w e r C o .; a ls o w a t e r
p o w e r a t L o n g L a k e a n d L it t l e F a lls , W a s h ., a n d a t P o s t F a lls . I d a h o .
C o m p a n y o p e r a t e s t h e e l e c t r i c - l i g h t a n d p o w e r s y s t e m s in S p o k a n e , H i l l y a r d , P u llm a n , U n io n t o w n , C o lt o n , P a lo u s e , G a r fie ld , F a r m in g t o n , O a k o s d a lo , T e k o a , C o lf a x , L a t a h , S p a n g le , E n d ic o t t , S t. J o h n , E lb e r t o n . B e l
m o n t , D ia m o n d , R e a r d a n , D a v e n p o r t , H a r r in g t o n , S p r a g u e , R it z v ille ,
L in d , O d e s s a . W ilb u r , A lm ir a , C r e s t o n . I la r t lin e . R o c k f o r d . J o h n s o n a n d
G o v a n , a i l o f W a s h i n g t o n , a n d in S t . M a r i e s , M o s c o w , G e n e s e e a n d O s b o r n e
in I d a h o . A l s o s u p p l i e s p o w e r f o r o p e r a t i o n o f o t h e r c o s . a t N e w p o r t , M e d i
c a l L a k e a n d C h e n e y in W a s h i n g t o n a n d P o s t F a il s , R a t h d r u m , C o e u r
d ' A l e n e , W a l l a c e , W a r d n e r a n d K e l l o g g in I d a h o .
In N o v . 1917 e n te re d
in t o a c o n t r a c t w ith th e C h ic a g o M il w . k S t . P a u l R y . t o fu r n is h p o w e r
f o r t h e o p e r a t i o n o f it s t r a in s o n t h e w e s t e r n e x t e n s io n o f t h e e l e c t r i f i e d
s e c t io n o f th o r o a d o v e r th e R o c k y M o u n t a in s .
T h o c o . e x p e c ts t o b e g in
s u p p ly in g p o w e r t o th e r a ilr o a d jn th e s u m m e r o f 1 9 1 9 .
,
F r a n c h is e s f o r e l e c t r i c - lig h t in g a n d p o w e r in S p o k a n e r u n t o J u n e 1 1 9 3 4 .
S tr e e t r a ilw a y fr a n c h is e s o f v a r io u s le n g th s .
F r a n c h i s e s In s m a l l t o w n s
v a r io u s le n g t h s , 2 5 t o 5 0 y e a r s .
. . . .
I n 19 1 7 th e C it y C o n n c il o f S p o k a n e , W a s h ., d e n ie d t h e c o . s p e t it io n f o r
c a n c e lla t io n o f o r d in a n c e p r o v is io n s fo r fr a n c h is e ta x e s a n d m a in t e n a n c e o f
_______. . .
p a v e m e n t b etw een tra ck s.
. .
O n M a r c h 15 1 9 1 0 I n c r e a s e d a u t h o r iz e d c a p it a l s t o c k fr o m $ 1 0 ,0 0 0 ,0 0 0
to $ 1 5 ,0 0 0 ,0 0 0 a n d o n D e c . 2 1 9 1 3 t o $ 2 0 ,0 0 0 ,0 0 0 .
V . 97. p . 1505.
E a r l y in 1 9 1 7 t h e W a s h i n g t o n L e g i s l a t u r e p a s s e d a n A c t e m p o w e r i n g t h e
c o . t o t a k e o v e r b v le a s e o r c o n s o lid a t io n t h e lin e s o f t h e S p o k a n e & I n la n d
E m p ir e l i l t , in S p o k a n e .
T h e A c t , i t is u n d e r s t o o d , w il l b e a v a i l e d o f ,
i f a t a l l , o n l y a f t e r t h e S p o k a n e k I n la n d E m p i r e R R . h a s s e t it s a f f a i r s in
order.
C om p a re V . 105. p . 1999.
„
F a r e s .— I n J a n . 1 9 1 8 fil e d w it h t h o W a s h . P . S . C o m m , a n o w fa r e
s c h e d u le , e f fe c t iv e F o b . 1 1 9 1 8 , in c r e a s in g th e r a t e fo r s c h o o l t ic k e t s t o
4 c e n t s e a c h a n d d i s c o n t i n u i n g t h e s a l e o f 11 t i c k e t s f o r 5 0 c e n t s a n d 1 1 0
t ic k e ts fo r 5 d o lla r s .
V . 106. p. 5 0 0 .
In A u g . 1918 th e c o m p a n y s a d v a n c e
t o 3 - c e n t s p o r m il e o n it s in t e r u r b a n lin e s a n d it s 2 5 % in c r e a s e in f r e ig h t
r a te s w e r e u p h e ld b y t h e W a s h . P . S . C o m m .
V . 107, p . 803.
I n F e b . 1 9 1 8 is s u e d $ 2 ,6 7 0 ,0 0 0 1 - y r . n o t e s t o r e f u n d a n is s u e o f 2 - y r .
n o t o s , d u o F e b . 2 1 9 1 9 a n d t o p a y in p a r t f o r a d d n s .
V . 100, j). 1345.
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1 - y c a r n o t e s $ 2 . 8 0 0 , 0 0 0 ------------- 1 9 1 8
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r e s e r v e d t o r e tir o 1 st m t g e ., $ 3 ,1 2 0 ,0 0 0 a r o p le d g e d a s c o lla t e r a l u n d e r
th o 1 -y e a r n o t o s (s e o a b o v e ) , $ 3 ,9 0 0 ,0 0 0 a r e fo r a d d it io n s a n d e x t e n s io n
a t n o t t o e x c e e d 6 0 % o f c o s t a n d $ 3 , 9 0 0 , 0 0 0 a r e in t r e a s u r y ; $ 9 8 8 , 0 0 0 h a v e
b e e n c a n c e le d b y s in k . fu n d .
S in k in g fu n d o f 2 % p e r a n n u m o f b o n d s o u t
h e q a n S e p t . 190 9 fo r p u r c h a s e o f b o n d s a t n o t e x c e e d in g 110 a n d in t .. b u t
b on d s ca n n ot b e d raw n .
B o n d s a re r e d e e m a b le a s a w h o le a t o p t io n o f c o m
p a n y a t 1 1 0 a n d I n t. V . 8 8 . p . 5 4 . 1 0 0 3 . B o n d s a r e lis t e d o n N . Y . S t o c k
E xch an ge.
V . 89 . p . 1544; V . 104. p . 1900. 2120.
N o t e s . — T h e 1 - y r . n o t e s a r e s e c u r e d b y d e p o s i t o f 1 s t & R e f . M bg<*. 5 %
b o n d s in t h o r a t i o o f 1 2 0 % o f t h e a m o u n t o f n o t a s o u t s t a n d i n g .
D i v i d e n d s — l a 1 9 0 0 . 3 % : i n 1 9 0 1 . 4 % ; in 1 9 0 2 . 5 % : In 1 9 0 3 . 6 % ; I n ' 9 0 4 .
6 % ; 1 9 0 5 t o 1 9 1 0 . in c l.. 7 % p e r a n n u m .
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1 9 1 3 ,8 % .
In 1 9 1 4 , 7 % % .
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4 % .
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R E P O R T . — F o r y e a r s e n d in g D e c . 31 (1 9 1 7 r e p o r t in V . 1 0 6 , p . 1 7 8 9 ) :
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m ile s o f s t r e e t s .
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f r e ig h t b u s in e s s u n d e r s p e c ia l fr a n c h is e . O p e r a t e s 6 3 8 m ile s o f h ig h -t e n s io n
tr a n s m is s io n lin e s .
O w n s h y d r a u li c p o w e r p la n t s a s f o l l o w s : 1 2 .0 0 0 h . p .
a t S p o k a n e ; 1 5 .0 0 0 h . p . a t P o s t F a ll s . I d a h o ; 2 7 .0 0 0 h . p . a t L i t t l e K a lis ,
W a x n .. c o m p le t e d in 1 9 1 ] ,
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a n u lt im a t e in s t a lla t io n o f 6 6 ,0 0 0 h . p . a t L o n g L a k e , W a s h .
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2 2 , 5 0 0 h . p . u n i t i s e x p e c t e d t o b e c o m p l e t e d in t h o f a l l o f 1 9 1 9 .
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k T r e a s . , V . G . 'S h i n k l e ; A u d . . J . S . S i m p s o n .— V . 1 0 5 . p . 1 9 9 9 ; V . 1 0 6 .
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SPRINGFIELD, MASS.
S P R I N O F I E L D S T R E E T R Y . — S e e N e w E n g la n d I n v e s t m e n t & S e c u r i
t ie s C o . u n d e r W o r c e s t e r .
SPRINGFIELD, MO.
S P R I N G F I E L D R A I L W A Y & L I O H T C O .— S e e F e d e r a l L ig h t & T r a c .
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f i e l d k X e n i a R y . , w h i c h w a s o r g a n i z e d In 1 9 0 4 t o s u c c e e d t h e S p r i n g f i e l d
k X e n i a T r a c tio n C o . , w h ic h h a d b e e n s o ld u n d e r fo r e c l n u r e
V. 83. p 214.
S T O C K .— C o m m o n , a u t h . a n d is s u e d . $ 3 0 0 ,0 0 0 : p r e fe r r e d , 5 % c u m .,
a u t h . a n d is s u e d . $ 3 0 0 ,0 0 0 .
P ar, $100.
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In 1 9 0 9 .
5 H % ; in 1 9 1 0 . 4 5 4 % : 1 9 1 1 . 8 ) 4 % .
In 1912. 6 ) 4 % .
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1 U ; J u n e . 1 1 4 % : S e p t .. 1 ) 4 % : D e c .. 1 ) 4 % r e g u la r a n d 2 % e x t r a , w h ic h
p a i d a c c u m u l a t i o n s in f u l l t o J a n . 1 1 9 1 4 .
In 1 9 1 4 t o 1 9 1 7 , in c l., 5 % .
In 1918, M a r .. 1 )4 % ; J u n e , 1 ) 4 % .
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p a id D o c . 1 9 1 3 .
In 1 9 1 4 , 1915 a n d 1 9 1 6 . 3 % .
In 1917. D e c .. 2 % .
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134
E A R N I N G S .— F o r y e a r e n d in g D e c . 3 1 1 9 1 7 , g r o s s , $ 8 3 ,7 3 5 : n e t , a ft e r
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S P R IN G F IE L D T E R M IN A L R A IL W A Y & P O W E R C O .
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STO C K A N D BO N D S—
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In ter es t.
O u tsta n d in g .
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a n d $ 1 . 0 0 0 ) ........................ _ c * t f l l n t . a t C e n t r a l T r u s t C o . o f 111., C h i c a g o .
S to c k .— T h e S p r i n g f i e l d T r o y & P l q u a R y . w a s f i n a n c e d b y i t s o f f i c i a l s ;
$ 7 0 ,0 0 0 s t o c k w a s Iss u e d t o c o m p ly w it h la w r e q u ir in g Issu e o f 1 0 % o f a u
th o r iz e d a m o u n t .
I n 1 9 1 7 th e O h io P . U . C o m m , a u th o r iz e d a n d th e c o .
Iss u e d $ 2 8 0 ,0 0 0 s t o c k t o r e im b u r s e (t o g e t h e r w it h t h e $ 2 5 0 ,0 0 0 b o n d s
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R e d . , a ll o r p a r t , o n a n y i n t . d a t e a t 1 0 2
a n d In t.
R e m a in in g b o n d s m a y b e Issu e d o n ly fo r 8 5 % o f c o s t o f p e r m a
n e n t b e tte r m e n ts a n d a d d itio n s .
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o p e r a t i n g In J u l y 1 9 0 4 ; I n c lu d in g s e c o n d t r a c k a n d s i d i n g s , 3 3 m i l e s .
R a lls ,
6 0 a n d 7 0 -lb . T .
S ta n d a rd g a u g e.
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S P R IN G F IE L D
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T r e a s u r e r o f t h e c o m p a n y , w a s a p p o in t e d r e c e iv e r , fo llo w in g d e fa u lt o n
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F r e ig h t a n d p a s s e n g e r r o a d .
C a r r ie s fr e ig h t In s ta n d a r d c a r s .
C a p it a l s t o c k , c o m m o n ( a u t h .) , $ 7 5 ,0 0 0 , a ll o u t s t a n d in g ; 6 % p r e f. s t o c k ,
$ 2 5 ,8 0 0 :1 s t M . f o r $ 1 0 0 ,0 0 0 o f 5 % g o l d $ 5 0 0 a n d $ 1 ,0 0 0 c o u p o n b o n d s d a to d
N o v . 1 1 8 9 7 , d u e N o v . 1 1 9 1 7 : I n t . M . Sc N . a t N a t i o n a l S h a w m u t B a n k ,
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E A R N I N G S .— F o r y e a r e n d in g J u n o 3 0 1 9 1 7 , g r o s s , $ 8 9 ,2 2 9 ; n e t ,
$ 1 1 ,7 1 7 .
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c o m e , $ 1 ,2 3 2 ; g r o s s I n c o m e , $ 2 6 ,5 3 8 .
P re s. & G e n . M g r ., E . C . C r o s b y
V . - P . , M . A . C o o lid g e ; T r e a s ., I I . H . .B la n c h a r d ; S u p t ., A . J . C r o s b y
— V . 64, p . 1043; V , 70, p . 793; V . 100, p 2124.
STATEN ISLAND, N. Y.
R IC H M O N D
L IG H T
&
R R . CO .
O R G A N I Z A T I O N .— T h is c o m p a n y w a s fo r m e d a s a r e o r g a n iz a tio n o n
A u g . 18 1 9 0 2 o f th e S ta te n Is la n d E le c t r ic R R . , N e w Y o r k & S ta te n Isla n d
E le c t r ic C o . a n d th e R ic h m o n d C o u n t y P o w e r C o .
O w n s th e e n tir e c a p ita l
o f th e N e w J e r s e y & S ta te n Is la n d F e r r y C o .
F o r te r m s o f r e o r g a n iz a t io n
a n d c o m p le t e s t a t e m e n t o f p la n , s e e V . 7 4 , p . 1 0 9 1 . F r a n c h is e s a r e p e r p e t u a l.
T r a n s fe r D e c is io n .— O n A p r il 2 8 1 9 1 1 C o u r t o f A p p e a ls r e n d e r e d a d e c i
s io n r e q u ir in g t h e e x c h a n g e o f t r a n s fe r s b e t w e e n M a n o r R o a d lin e o f th e
8 . I . M i d . R y . a n d c o n n e c t in g lin e s o f R . L . & R R .
V . 92. p. 1179.
M e r g e r D e n i e d .— T h e N . Y . P . S . C o m m , o n M a y 10 1 9 1 7 d e n ie d th e
a p p lic a t io n fo r a u t h . t o m e r g e th is c o . a n d th e S ta te n Is la n d M id la n d R y .
u n d e r th e title o f S ta te n I s la n d L ig h t & T r a c t io n C o .
V . 104, p . 1900.
I n J u n o 1 917 a p p lie d t o P . S . C o m m , fo r a u th . t o In cre a se fa r e fr o m 5 t o 6 c
See V . 107, p . 502.
F in e .— H a v in g fa ile d t o c o m p ly w it h th e P . S . C o m m .’s o r d e r r e q u ir in g
th e c o . t o d o u b le tr a c k C a s tle to n A v e ., R ic h m o n d , o n A p r il 15 1 9 1 6 , a
J u d g m e n t f o r a fin e o f $ 7 7 ,3 0 0 , b e in g a n a g g r e g a t e o f $ 1 0 0 a d a y f r o m
A p r i l 1 5 1 9 1 6 t o M a y 2 8 1 9 1 8 , w a s f i l e d a g a in s t t h o c o . in J u n e 1 9 1 8 .
I n a n a p p e a l t o th e A p p e lla t e D iv is io n o f th e S u p r e m e C o u r t th e o r d e r
o f th o C o m m is s io n w a s s u s ta in e d .
V . 106, p . 2758.
S T O C K A N D B O N D S .—
D a te .
In ter es t.
O u tsta n d in g .
M a tu ritg .
S t o c k $ 3 , 0 0 0 , 0 0 0 ( 8 1 0 0 ) ..................................................... ........... $ 2 , 8 7 1 , 7 5 0
......................
F ir s t c o lla te r a l tr u s t m t g o .l 1 9 0 2
4 g J -J
2 ,2 0 0 .0 0 0 J u ly 1 1 9 5 2
$ 2 , 5 0 0 , 0 0 0 g o l d ____________t f / I n t . a t G u a r a n t y T r u s t C o . , N . Y . , t r u s t e e .
B o n d s .— $ 3 0 0 ,0 0 0 a r e r e s e r v e d f o r t h e a c q u is it i o n o f n e w p r o p e r t y .
E A R N I N G S .— F o r y e a r s e n d in g J u n e 3 0 :
Y ea r.
G ross.
N e t ( a f t . T a x . ) . O th er I n c . I n t . & R e n ts .
S u r p lu s .
1 9 1 6 - 1 7 --------$ 4 2 9 , 7 5 2
$ 8 7 ,4 1 3
$ 2 1 7 ,5 5 5
$ 1 6 4 ,1 6 5
$ 1 4 0 ,8 0 3
1 9 1 5 - 1 6 _____ 4 0 7 , 5 5 0
1 0 1 ,1 2 4
2 0 3 ,9 1 5
1 5 5 ,2 6 4
1 4 9 ,7 7 5
R O A D . — M il e s o f t r a c k , 3 2 .0 5 ; 9 0 - lb . g ir d e r C a m b r ia a n d 8 5 - lb . g ir d e r
J o h n s o n s te e l r a ils ; 3 6 p a s s e n g e r c a r s .
O F F I C E R S .— P r o s .. C . W . H o t c h k is s , 5 5 W a ll S t .. N . Y . : V .- P
*
G e n . M g r . , R . L . R a n d ; S e c ., J . E . P h il lip s .— V . 1 0 6 , p . 2 7 5 8 ; V . 1 0 7 , p .5 0 2 .
STATEN
IS L A N D M ID L A N D R A IL W A Y C O .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In N o w Y o r k o n J a n . 1 6 1 9 0 7 a s a
■ o r g a n iz a t io n o f t h e S t a t e n I s la n d M id la n d R a ilr o a d C o . s o ld u n d e r s e q u e s r a t ic i p r o c e e d i n g s o n J a n . 3 1 9 0 7 .— V . S 4 , p . 2 2 2 .
T r a n s fe r D e c is io n .— S e e u n d e r R ic h . li t . & R R . a b o v e .
V . 92. p . 1180.
M e r g e r D e n ie d .— S e e R ic h m o n d L ig h t & R R . C o . a b o v e .
I n J u n e 1 9 1 7 a p p lie d t o P .S . C o m m , f o r a u t h . t o In cre a se fa r e fr o m 5 t o 6 c .
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
t o c k $ 1 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) .................. .. ..................................
$ 1 ,0 0 0 ,0 0 0
I M id R R 1st m t g $ 1 ,0 0 0 ,
1896
5 g J -J
1 ,0 0 0 .0 0 0 J a n 21 1 9 2 6
0 0 0 g o l d ( $ 1 . 0 0 0 ) _____ c * t f I n t . a t F a r m e r s ’ L . & T r . C o . , N . Y . , T r u s t e e
E q u ip t r u s t c t f s S e r A $ 1 3 5 ,
1915
6 g J -J
8 8 ,0 0 0 .
S ee te x t
0 0 0 ( $ 5 0 0 ) g o l d ----------- c * & r I n t e r e s t a t B a n k e r s T r u s t C o . , T r u s t e e ,
B o n d s .— S i n k i n g f u n d a f t e r 5 y o a r s b u t b o n d s c a n n o t b e c a l l e d .
T h o e q u ip m e n t t r u s t c e r t fs . m a t u r e $ 7 ,0 0 0 o a c h J a n . 1 a n d $ 6 ,5 0 0 e a c h
J u ly 1 , b e g in n in g J u ly l 1 9 1 5 .
T h e y a r e s u b je c t t o c a l l a t 1 0 2 a n d ln t e r o s t .
S e c u r e d b y 3 2 d o u b le -t r u c k c lo s e d c a r s .
E A R N I N G S .— F o r y e a r s e n d in g J u n e 3 0 :
Y ea r—
G ross.
N e t (a ft. T a x .)
O th er I n c . I n t . & R e n t s .
D e fic it
9 1 6 - 1 7 _____ $ 3 4 1 , 6 2 3
$ 8 ,0 4 9
$ 2 ,8 5 4
$ 7 0 ,9 0 3
$ 6 0 ,0 0 0
9 1 5 - 1 6 -------- 3 4 3 , 0 6 9
3 2 ,8 8 0
4 ,0 0 3
6 3 ,9 4 0
2 7 ,0 5 7
R O A D . — O w n s 2 8 .6 8 m ile s o f t r a c k .
R a ils 6 5 t o 7 0 -lb . T a n d 9 0 -lb
g ir d e r .
41 p a ssen ger ca rs.
O F F I C E R S .— P r e s .. C . W . H o t c h k i s s , 5 5 W a l l S t .. N . Y . C i t y : S e c ..
A . M . S t illw e ll. N e w B r ig h t o n . N . Y — V .,9 9 . p . 1 4 5 2 : V . 1 0 4 . p . 1 9 0 0 .
i
STOCKTON, CAL.
C E N TR A L
C A L IF O R N IA
T R A C T IO N
C O .— A n
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
$ 2 ,6 7 5 3 0 0
.......... .................
C o m m o n $ 3 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ..................................................
P r e f $ 1 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) 6 % c u m ..........
...................
1 .0 0 0 .0 0 0
...........................
F ir s t
m ortg a g e
$ 1 ,5 0 0 ,0 0 0 / 1 9 0 6
5 g A -O
1 ,4 9 2 .0 0 0 A p r il 1 1 9 3 6
( $ 1 ,0 0 0 ) g o l d s in k f u n d . t f l l n t . a t U n i o n T r u s t C o . o f S a n F r a n ., T r u s .
B o n d s .— S i n k , f u n d o n 1 s t M . b o n d s b e g a n In 1 9 1 2 w i t h $ 1 5 ,0 0 0 p e r y e a r
Tor 1 0 y e a r s , $ 3 0 ,0 0 0 p e r y e a r f o r t h e s u c c e e d i n g 1 0 y e a r s a n d $ 4 5 ,0 0 0
p e r y e a r fo r r e m a in in g 4 y e a r s .
B o n d s a re r e d . o n a n y in t . d a y a t 105 a n d
In t
o n 6 0 d a y s ' n o tic e .
E A R N I N G S . — F o r t h e 11 m o n t h s e n d in g N o v . 3 0 1 9 1 7 t h e c o m p a n y
r e p o r t e d a p r o f i t o f $ 6 , 0 1 1 , a f t e r a l l d e d u c t i o n s , a g a i n s t a la s s o f $ 8 8 , 1 0 1
d u r in g t h e c o r r e s p o n d i n g p e r io d In 1 9 1 6 .
R O A D . — O p e r a t e s iu t h e c i t y o f S t o c k t o n a n d a n I n t e r u r b a n lin o f r o m
S to c k to n th ro u g h L o d i to S a cra m e n to .
T o t a l tr a c k o p e r a t e d . 7 0 .8 m ilo s .
H a s o p e r a t in g a g r e e m e n t w ith T id e w a t e r S o u th e r n R y ., w h e r e b y th o t w o
lin e s a r e o p e r a t e d a s o n e s y s t e m .
C o m p a n y c a r r ie s W e lls F a r g o e x p r e s s
m a tter.
O F F I C E R S .— P r e s ., A ld e n A n d e r s o n ; V .- P s ., M . F lo is h h a c k e r ,G o o . W .
P e lt ie r a n d I I . F le is h lia c k e r : S e c . & T r e a s ., A . N . B a ld w in ; G e n . M g r . ,
C .
H . R ob ertson .
O f f lc o , 2 3 3 P o s t S t ., S a n F r a n c is c o .— V . 1 0 7 , p . 4 0 1 .
STOCKTON
ELECTRIC RR.
O R G A N I Z A T I O N . — I n c o r p . D e c . 2 9 1 8 9 1 In C a li f o r n ia .
S ou th e rn P a c .
C o . o w n s th e e n t ir e $ 5 0 0 ,0 0 0 s t o c k e x c e p t d ir e c t o r s ’ s h a r e s .
N o bonds
o u ts ta n d in g .
L e a s e . — F o r l e a s e o f t h o C o n t r a l C a l i f o r n i a T r a c t i o n C o . ’ s l i n o s lit S t o c k
to n , see th a t co m p a n y a b o v e .
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
Y ea r.
G ross.
N e t.
O th er. I n t . , R e n ts , & c .
B a l., S u r.
1 9 1 7 . ............ $ 2 4 0 , 8 0 2
$ 5 3 ,4 5 9
$ 4 ,1 2 4
$ 1 5 ,1 4 3
$ 4 2 ,4 4 0
1 9 1 6 . ............ 2 2 6 , 0 6 0
2 8 ,9 7 3
1 ,9 9 7
1 5 .5 3 0
1 5 ,4 4 0
R O A D . — O p e r a t e s 2 5 51 m ile s o f t r a c k .
S ta n d a rd g a u g e.
2 9 ca rs.
O F F I C E R S .— P r o s ., P a u l S h o u p ; S e c . & A u d .. H . A . C u llo d e n ; T r e a s ..
M .
S . W a d e ; M g r ., F ra n k W . W e b s te r.
O ffic e , L o s A n g e le s , C a l.— V . 7 6 .
p . 159; V . 100, p . 643. 902; V . 102, p . 1626.
TIDEW ATER
SOUTHERN
RY.
O R G A N I Z A T I O N .— I n c o r p . o n M a r . l l 191 2 a s a c o n s o lid a t io n o f th e
p r o je c t e d T id e w a t e r & S o u th e r n R R . ( V . 9 3 , p . 1 7 9 0 ) a n d T id e w a t e r &
S o u th e r n T r a n s it R y .
I t Is p r o p o s e d t o c o n s t r u c t a 2 2 7 - m l t e l i n e f r o m
S t o c k t o n t o F r e s n p v ia T u r l o c k , I n c lu d in g b r a n c h lin e s , o f w h ic h 5 0 m ile s
b e t w e e n S t o c k t o n a n d T u r l o c k c o m p l e t e d a n d In o p e r a t i o n .
S t o c k . — $ 1 , 7 0 5 , 7 0 3 s t o c k , o f w h i c h $ 3 0 , 0 0 0 Is p r e f e r r e d , Is o u t s t a n d i n g I n
th e h a n d s o f th e p u b lic .
In D e c . 1 9 l6 th e C a l. R R . C o m m . a u th . th e c o _
t o I s s u e $ 6 0 0 , 0 0 0 s t o c k a t n o t le s s t h a n 8 0 , t h e p r o c e e d s t o b e u s e d t o e x t e n d
I t s l i n e f r o m H a t c h t o I r w i n C i t y , C a l . , 8 m i l e s , f o r f r e i g h t t e r m i n a l s In
M o d e s t o a n d fo r o th e r Im p ts.
V . 104, p . 161.
In J a n
1917 th e R R .
C o m m . a u t h . t h e c o . a n d P re s . B y r o n A . B o a r c e t o t e r m in a te t h e s p e c ia l
t r u s t c r e a te d fo r $ 2 ,0 0 0 ,0 0 0 o f c o m m o n s t o c k t o c o v e r c o n t r o l d u r in g t h e
c o n s t r u c t i o n p e r io d b y fr e e in g t h e r e fr o m 2 5 0 ,0 0 0 s h a r o s a n d r e t u r n in g t h e
r e m a in in g 1 ,7 5 0 .0 0 0 s h a re s t o t h o t r e a s u r y .
T h o 2 5 0 ,0 0 0 s h a r e s a r e t o
b e h e ld In a s p e c i a l t r u s t a n d b e w i t h h e l d f r o m s a le f o r 5 y e a r s . V . 1 0 4 , p .
665.
T h e c o . h a s a p p lie d fo r p e r m is s io n t o e x c h a n g e c o m m o n s t o c k s h a r e
f o r s h a r e , f o r t h o $ 3 0 ,0 0 0 p r e f. s t o c k o u t s t a n d in g .
In 1 918 th o W e ste rn
P a c i f i c R R . p u r c h a s e d $ 6 0 0 , 0 0 0 o f t h i s c o m p a n y ’s s t o c k a n d , I t Is s t a t e d ,
h a s a g r e e d t o b u y t h e $ 5 0 0 ,0 0 0 b o n d Is s u e a u t h . in M a r . 1 9 1 8 .
P u r c h a s e . — I n N o v . 1 9 1 4 p u r c h a s e d f r o m t h e M o d e s t a te E m p i r e T r a c .
C o . t h e lin e o f th e ir r a ilw a y fr o m M o d e s t a t o E m p ir e , ta k in g o v e r a t th e
s a m e tim e a ll fr e ig h t a g r e e m e n ts w ith th o S a n ta F o r o a d .
V . 99, p . 1452.
A s s e s s m e n t.— A n a s s e s s m e n t o f 10 c e n t s p e r s h a r e w a s le v ie d o n s t o c k
h o ld e r s , d e lin q u e n t O c t . 4 1 9 1 5 .
I n 1 9 1 7 a n a s s e s s m e n t w a s le v ie d o n a ll
d e lin q u e n t s t o c k e q u a l t o t h e a m o u n t u n p a id , d e lin q u e n t A p r il 2 1 . s a le d a t e
M a y 10 1917.
O p e r a tin g A g r e e m e n t w ith C e n tr a l C a lifo r n ia T r a c . C o .— S e e r e m a r k s
u n d or th a t co m p a n y a b o v e .
V a l u a t i o n . — E a r l y In 1 9 1 6 t h e r e p r o d u c t i o n c o s t , le s s d e p r e c i a t i o n , o f
t h o o p e r a t iv e p r o p o r t y w a s fix e d b y t h e C a l. R R . C o m m , a t $ 6 2 3 ,3 7 7 , a n d
o f th e n o n -o p e r a t iv e p r o p o r t y a t $ 9 0 ,1 6 6 .
V . 102, p . 1250
I n M a r . 1 9 1 8 w a s a u t h . b y t h o C a l. R R . C o m m , t o Issu e $ 5 0 0 ,0 0 0 1 st M .
5 % b o n d s , d u e In 1 9 4 2 , a t n o t le s s t h a n 8 0 ; p r o c e e d s t o p a y In p a r t f o r
co n s tr u ctio n w o rk .
V . 1 0 6 / p . 1345.
STO C K A N D BO N D S—
D a te .
In ter es t.
O u ts ta n d in g .
M a tu rity .
S t o c k $ 5 , 0 0 0 , 0 0 0 ( $ 1 ) ....................................................
S ee te x t
..................... ...
F ir s t
m ortg a g e
$ 4 ,0 0 0 ,0 0 0 / 1 9 1 2
5 g A -O 15
$ 7 5 0 ,0 6 0 A p r 15 1 9 4 2
g o l d ( $ 5 0 0 & $ l , 0 0 0 ) ____t f I U n i o n T r u s t C o . , S a n F r a n c i s c o . T r u s t e e .
B o n d s .— F ir s t m t g e . b o n d s a r o is s u a b le a t $ 2 0 ,0 0 0 p e r m il e .
S u b j. t o
c a ll a t 103 o n a n y in t . d a y .
S in k in g f u n d 2 % o f b o n d s o u t O c t . 1 5 1 9 1 6 t o
O c t . 1 5 1 9 2 1 . a n d 3 % o f b o n d s o u t O c t . 1 5 1 9 2 2 t o O c t . 15 1 9 4 1 , w h i c h w i l l
r e tir e b o n d s a t m a t u r it y .
I n t . a t c o m p a n y ’ s o f f l c o o r in N e w Y o r k .
R O A D . — H a s c o n s t r u c t e d a n d e le c t r i fie d 6 0 m ile s b e t w e e n T u r lo c k a n d
S t o c k t o n a n d h a s g r a d e d a n d Is b u i l d i n g 9 m i l e s f r o m H a t c h t o l l l l m a n
a n d 5 m . fr o m T u r n e r t o M a n t e c a . O p e r a te s a 2 -h o u r p a sse n g e r s e r v ic e b e
tw e e n S t o c k t o n , A t la n t a , E s c a lo n a n d M o d e e t o . A ls o h a* 6 m . o f t r a c k w e s t
o f T u r l o c k t o H a t c h . H a s c o n t r a c t f o r p o w e r w it h S ie r r a & S a n F r a n . P o w e r
C o . U n d e r a g r e e m e n t w ith C e n tr a l C a lifo r n ia T r a c t io n C o . th e t w o p r o p e r
tie s a r o o p e r a t e d a s o n e s y s t e m .
A ls o h a s t r a f f ic a g r e e m e n ts w ith th e
W e s te r n P a c ific , C a lifo r n ia N a v . & I m p . C o . , S o u t h . P a c ific a n d t h e A t c h .
T o p o k a a n d S a n ta F e fo r th o in t e r c h a n g e o f p a s s e n g e r s a n d fr e ig h t .
E A R N I N G S . — F o r y e a r e n d in g J u n e 3 0 1 0 1 6 . g r o s s , $ 7 9 ,8 6 5 : n o t . a ft e r
t a x e s , $ 2 ,6 4 5 ; d e d u c t i o n s , $ 2 4 ,4 6 7 ; lo s s , $ 2 1 ,8 2 2 .
N o la te r in fo r m a tio n .
O F F I C E R S .— P r o s ., B y r o u A . B e a r c e ; V . - P . , K
O . B r u e c lr : S e c . a n d
T r e a s ., W . C . P e c k .
O ffic o , 2 5 S o . S u tte r S t ., S t o c k t o n , C a l.— V . 1 0 2 .
p . 1250; V . 103, p . 1793; V . 104, p . 164, 665; V , 106, p . 1345.
STREATOR,
ILL.
IL L IN O IS. V A L L E Y G A S & E L E C T R IC C O .
T h is c o m p a n y w a s m e r g e d o n N o v . I 1911 In to th e P u b lic S o r v lc e C o . o f
N o r t h e r n I l l i n o i s , w h i c h s e e In o u r “ R y . a n d I n d u s t r i a l ” S o c t l o n .
SW A N SE A , MASS.
SW A N SE A & SEF.KONK S T R E E T R Y .
O R G A N I Z A T I O N . — I n c o r p . in M a s s , o n N o v . 5 t o t a k o o v e r a n d o p e r
a t e t h e p r o p e r t y o f th e fo r m e r P r o v i d e n c e & F a ll R iv e r S t r e e t R y . , w h ic h
h a d b e o n s o ld fo r J u n k o n S o p t . 12 1 9 1 7 t o K a r l A n d r e n o f B o s t o n , b u t re
s o ld t o a c o m m it t e e r o p r e s o n tin g t h o r e s id e n ts o f th o to w n s t h r o u g h w h ic h
t h o lin e r a n .
O p e r a tio n s w e r o b e g u n N o v . 8 1 9 1 7 .
F a ro th ro u g h th e to w n
is 6 c e n t s f l a t , a n d f o r t h o t i m e b o t n g , a t l e a s t , n o t r a n s fe r s w ill b e I s s u e d .
S T O C K . — A u t h . a n d is s u e d , $ 1 0 0 ,0 0 0 .
P a r o f sh ares, $ 1 0 0 .
»-vH
R O A D . — 1 0 .8 5 m ile s o f c r a c k b e t w e e n R . I . lin o , E a s t P r o v i d e n c e , a n d
S w a n s e a - S o m c r s e t t o w n l i n e In M o s s .
I <
4
O F F I C E R S . — P r o s . E m e r y O . K e l l o g g , S w a n s o a ; V . - P r o s . . W t l l a r d . 'O .
G a r d n e r , S w a n s e a ; T r e a s ., C h a r lo s W . G r e o n o , W a r r e n , R . I .; S e c ., H a r b e r t
II.
M a r b lo , F a ll R iv e r , M a s s .; S u p t . , J . I I . H e a r n .— V . 1 0 5 , p . 2 0 9 5 .
e le c tr ic r o a d .
O R G A N I Z A T I O N . — O r g a n i z e d I n C a l i f o r n i a In A u g . 1 9 0 5 t o c o n s t r u c t
a n i n t e r u r b a n s y s t e m o f e l e c t r i c r o a d s f o r p a s s o n g e r s a n d f r e i g h t In t h o c e n
tr a l v a lle y s o r C a lifo r n ia .
R o a d o p e r a t e s o v e r p r iv a t e r ig h t o f w a y ,
F r a n c h is e s in a ll t h e c it ie s o f th e s y s t e m r u n f o r 5 0
e x c e p t in t h e c i t i e s .
years.
A n a d d it io n a l fr o lg h t a n d p a s s e n g e r fr a n c h is e w a s a w a r d o d c o m
p a n y in M a y 1 9 0 9 f o r C i t y o f S a c r a m e n t o .
A n a sse ssm e n t, o f S5 a sh a r e
w a s c a l l e d T or p a y m e n t F e b . 2 0 1 9 0 8 .
V . 86, p . 667.
In J a n . 1918 a n oth er
a s s e s s m e n t o f $ 5 p e r s h a r e w a s le v ie d o n b o t h c la s s e s o f s t o c k , d e lin q u e n t
F e b . 2 5 1 9 1 8 , t o p r o v id e a d d itio n a l e q u ip m e n t. Im p r o v e tr a c k a g e a n d
r e s t o r o t h e c o m p a n y ’s c r e d i t b y r e d u c i n g f l o a t i n g d e b t .
T h o n e c e s sity fo r
t h is a c t io n w a s a s c r ib e d t o y e a r s o f u n p r o f it a b le o p e r a t io n d u e t o J it n e y
c o m p e t i t i o n , w h i c h Is n o w r e g u l a t e d .
See V . 106, p . 497.
O n M a y 8 1 9 1 1 s h a r e h o l d e r s v o t e d t o i n c r e a s e a u t h . s t o c k t o $ 4 , Q Q 0 ,0 0 0 .
o f w h i c h $ 3 , 0 0 0 , 0 0 0 is c o m . a n d $ 1 , 0 0 0 , 0 0 0 p r o f .
V. 92, p . 955.
L e a s e .— T h o C a l . R I t . C o m m , i n M a r c h 1 9 1 5 a u t h o r i z e d t h e c o m p a n y t o
l e a s e I t s l i n e s In S t o c k t o n t o t h e S t o c k t o n E l e c . R R . a t a r e n t a l o f $ 1 2 , 5 0 0
a y e a r fo r fir s t 3 y r s . a n d $ 1 5 ,0 0 0 y r l y . fo r n e x t 3 5 y r s .
V . 1 0 0 . p . 1 167
O p e r a t i n g A g r e e m e n t .— E a r l y In 1 9 1 6 o n t e r e d i n t o a n a g r e e m e n t w i t h t h e
T id e w a t e r S o u t h e r n R y . p r o v id in g f o r t h e J o in t o p e r a t io n o f t h e t w o lin o s
as on e sy stem .
T h o s e p a r a t e c o r p o r a t e e x i s t e n c e o f o a c h . h o w e v e r . Is t o
b e m a in ta in e d .
V . 102. p . 1250.
P l a n t o R e d u c e I n t e r e s t , & c .— I n 1 9 1 7 h o l d e r s o f t h e 1 s t M . 5 s s i g n e d a n
a g r e e m e n t r e d u c in g t h e In t. r a te fr o m 5 % t o 2 % fo r th o y e a r s 1 9 1 7 , 1 918
a n d 1 9 1 9 a n d w a i v i n g d e f a u l t In I n t . a n d a l s o t h e s i n k i n g f u n d p r o v i s i o n .
C om p a re V . 106, p . 497.
F a r e I n c r e a s e .— I n J u l y 1 9 1 8 a u t h . b y t h e C a l . R R . C o m m , t o I n c r e a s e
p a s s e n g e r fa r e s o n its m a in lin e b e t w e e n S t o c k t o n a n d S a c r a m e n t o a n d
o n th e b r a n c h lin o t o L o d i t o 3 c e n ts p e r m ile , t o c a n c e l r o u n d -t r ip fa r e s
a n d t o in c r e a s e c o m m u t a t io n r a te s 1 0 % .
V . 107, p . 401
[V ol . 107
SYR AC U SE, N. Y.
E M PIRE S T A T E R R . C O R P .
O R G A N I Z A T I O N . — I n c o r p . in N o w Y o r k O c t . 2 7 1 9 1 7 a s s u c c e s s o r
t o t h e E m p ir e U n i t e d R y s . , I n c . , s o l d u n d e r f o r e c l o s u r e p e r p la n In V . 1 0 4 ,
p . 8 6 3 ; V . 105. p . 909.
T h e n e w c o . t o o k o v e r , s u b jo c t t o u n d e r ly in g b o n d
Issu es th o S y r a c u s e L a k e S h o r e & N o r t h e r n a n d A u b u r n & N o r t h e r n d iv i
s io n s .
T h o R o c h e s te r S y r a c u s o & E a s te r n d iv is io n w a s s e p a r a te ly r e o r
g a n iz e d a s t h e R o c h e s t e r & S y r a c u s o R I t . (w h ic h s e e b o lo w ) .
' A
F a r e I n c r e a s e .— I n J a n . 1 9 1 8 a n n o u n c e d v a r io u s fa r e In c r e a s e s , I n c lu d in g
a n a d v a n c e fr o m $1 2 5 t o $1 3 8 fo r r o u n d tr ip tic k e ts b o tw e e n S y r a c u s e
an d O sw ego.
M a tu rity .
O u ts ta n d in g .
S T O C K A N D B O N D S .—
D a te .
I n ter es t.
$ 1 ,4 5 0 ,0 0 0
C o m m o n j l , 5 0 0 , 0 0 0 ( $ 1 0 0 ) . . . ........................................
P r e f “ A ” 6 % c u m $ 1 ,0 0 0 ,0 0 0
" 'T J w a i
2 5 0 ,0 0 0
( $ 1 0 0 ) ............................................... .....................................................
P r e f B 6 % n o n -c u m $ 1 ,2 5 0 ,0 0 0
1 ,2 5 0 .0 0 0
......................
( $ 1 0 0 ) ________ •
....................................................................................
3 5 0 ,0 0 0 N o v 1 1 9 2 0
3 - y r n o t e s $ 5 0 0 ,0 0 0 ($ 1 ,0 0 0 )1 1 9 1 7
_6 M -N .
c * t f ? I n t . a t E q u ita b le T r . C o ., N . Y ., T r u s t e e .
S y r a c u s e L a k e S h o r e A N o r t h e r n R R .—
1 s t m o r t g a g e $ 2 ,5 0 0 ,0 0 0 g o l d ! 1 9 0 7
5 g M -N
2 ,5 0 0 .0 0 0 M a y 1 1 9 4 7
( $ 1 . 0 0 0 ) ________ _______ _ c * t f / l n t . a t C o l u m b i a T r , C o . , N . Y . . T r u s t e e .
A u b u r n & N o r t h e r n E l e c t r i c R R .—
4
1 st m o r t g a g e $ 1 ,0 0 0 ,0 0 0 g o l d ! 1 9 0 5
5 g M -N
2 5 0 .0 0 0 M a y 1 1 9 4 5
( $ 1 , 0 0 0 ) .................................c * t f l i n t , a t E q u i t a b l e T r u s t C o . . N . Y . , T r u s t e e .
S l o c k .— S e r i e s " A ” p r o f , s t o c k i s r o d c o m a b l o a t 1 0 5 .
S e r lo s " B ” , a f t e r
i t h a s r e c o l v e d 5 y e a r s ’ c o n s e c u t l v o d i v i d e n d s a t t h o f u l l r a t o o f 6 % , Is
e n t i t l e d t o r a n k p a r i p a s s e w i t h o r b e c o n v e r t e d I n t o S o r ia s " A . ’ '
O f th o
$ 2 5 0 , 0 0 0 s e r i e s *rA " r e p o r t e d o u t s t a n d i n g $ 5 0 , 0 0 0 Is h o l d I n t r u s t b y t h e
Se p t ., 1918.J
ELECTRIC RAILWAYS
R e o r g a n iz a t io n C o m m it t e e t o r e t ir e m o r t g a g o n o t e s .
T he com m on and
s e r ie s “ B ” p r o f , s t o c k s a r o h o ld in a 5 y e a r v o t i n g t r u s t .
Bonds.— T h e b o n d s o f t h e S y r a c u s e L a k e S h o r e & N o . R R . a r e s u D j e c t
■ t o c a ll s in c o M a y 1 1 9 1 7 o n a n y in t . d a t o a t 1 1 0 a n d in t . u p o n 6 0 d a y s ’
n o tic e .
N o s in k . fu n d .
T h e A u b u r n & N o r th e r n b o n d s a ro s u b je c t t o
c a ll a t 1 1 0 o n a n y In te re st p e r io d o n 6 0 d a y s ’ n o t ic e .
N o s in k in g fu n d s .
N o t e s .— T h e 3 -y e a r n o t e s a r e s u b je c t t o c a ll a s a w h o le a t p a r o n a n y in t .
d a to.
P a . 4 m ills t a x r e f u n d e d .
O f t h e $ 3 5 0 ,0 0 0 o u t s t a n d i n g $ 1 5 0 ,0 0 0
a r o h e ld in t r u s t b y t h e R e o r g . C o m m , t o p r o v id e f o r c o n s t r u c t i o n a n d
e q u ip m e n t.
R O A D .— O p e r a te s f r o m S y r a c u s e t o O s w e g o , 3 7 .8 m ile s .
O sw e g o c ity
lin e s , 1 0 .1 5 m . ; A u b u r n t o P o r t B y r o n , 7 .6 2 m . ; A u b u r n c i t y li n e s , 1 .4 2 m .;
F u lt o n c i t y lin e s , 0 .6 m . ; t o t a l le n g t h o f r o a d , 5 7 .5 9 m ilo s ; s e c o n d t r a c k ,
2 1 .2 5 m .; c a r h o u s e a n d o t h e r s id in g s , 5 .0 8 m .; t o t a l t r a c k a g e 8 3 .9 2 m ile s .
G a u g e, 4 ft .,
in .
R a il, 7 0 a n d 9 0 lb s .
56 p a ssen ger ca rs, 4 exp ress
c a r s , 2 w o r k c a r s , 4 s n o w p lo w s a n d 6 m is c e lla n e o u s c a r s .
H as con tra ct
fo r p o w e r w ith N ia g a r a L o c k p o r t A O n ta r io P o w e r C o .
H a s 4 s u b -s ta tio n s
w it h a t o t a l c a p a c it y o f 2 ,9 0 0 k .w .
O F F I C E R S .— P r e s ., I I . S . H o ld e n , V .- P . a n d G e n . M g r ., J . C . N e ls o n ;
T r e a s ., I I . J . C la r k ; S e c . & C o m p t r o lle r , S . C . S tiv e r s ; A u d it o r , J . H .
Y o d e r ; A s s t . S e c ., I I. C . B e a t t y ; A s s t. T r e a s ., J . B . H y la n d .— V . 1 0 5 , p .
1801; V . 106. d . 189.
R O C H E S T E R & S Y R A C U S E R R . C O ., IN C .
_
O R G A N I Z A T I O N . — I n c o r p . in N . Y . S e p t . 1 7 1 9 1 7 a s s u c c e s s o r t o t h e
R o c h e s t e r S y r a c u s e A E a s te r n R R . (p a r t o f th e E m p ir e U n ite d R y s ., I n c .,
s y s te m ) s o ld a t fo r e c lo s u r e A u g . 2 8 1917 a n d s e p a r a te ly r e o r g a n iz e d a s p e r
p l a n In V . 1 0 4 . p . 2 1 1 9 .
O v e rd u e In t. o n th e R o c h . S y r. A E a ste rn b o n d s
t o a n d i n c l . M a y 1 1 9 1 7 , a m o u n t i n g t o $ 1 0 0 p e r $ 1 , 0 0 0 b o n d , w a s p a i d In
fu ll.
B o n d h o ld e r s w h o fa ile d t o d e p o s it th e ir b o n d s w it h t h e r e o r g a n iz a t io n
c o m m i t t o o , r e c e iv e d $ 3 4 6 7 6 p e r $ 1 ,0 0 0 b o n d .
See V . 106, p . 1231.
O n S e p t . 1 0 1 9 1 8 t h e N . Y . P . S . C o m m , d is m is s e d c o m p la in t s file d
a g a i n s t t h e c o m p a n y o v e r in c r e a s e d r a t e s f o r c o m m u t a t i o n p a s s e n g e r fa r e s
w it h p e r m is s io n t o m a k e a p p lic a t io n f o r a r e o p e n in g o f t h e p r o c e e d in g s
a fte r M a y 1 1919.
V . 107, p . 1193.
„ ,
.
„ . .
„
, „
S T O C K S A N D B O N D S .— D a te .
I n ter es t.
O u ts ta n d in g .
M a tu rity .
C o m m o n $ 1 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) .......................................- - - - - - $ 1 , 0 0 0 , 0 0 0
.......................
P r e f e r r e d $ 3 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ............... „
6%
2 ,5 0 0 ,0 0 0
.............................
F ir s t m t g c c o n v $ 5 ,0 0 0 ,0 0 0 1 1 9 1 7
5 g M -N
2 ,5 0 0 ,0 0 0 M a y 1 1 9 5 7
($ 1 0 0 , $ 5 0 0 A $ 1 ,0 0 0 ) g .c * J T r u s t & D e p . C o . o f O n o n d a g a . S y r a c u s e , t r .
B o n d s .— T h e 1 s t M . 5 s a r e c o n v e r t i b le I n to p r e f . s t o c k a t p a r , $ f o r $ ,
b e t w e e n M a y 1 1 9 1 9 a n d M a y 1 1 9 2 9 ; t h is p r i v i l e g e m a y b e t e r m i n a t e d b y
t h e c o . in c a s e o f m o r g o r o r c o n s o l i d a t i o n w i t h a n y o t h e r c o . u n d e r N . Y .
la w s , o r o f t h o le a s e o f it s p r o p e r t y .
T h e y a r e c a l l a o l e , a ll o r in p a r t , o n
a n d a fte r M a y 1 1 9 2 2 a t 105 a n d In t.
T h e r e m a in in g b o n d s m a y b e is s u e d
f o r im p t s ., a d d ’n s , o x t s ., A c . , u n d e r c e r t a in r e s t r ic t io n s .
I n t e r e s t is p a y
a b le w ith o u t d e d u c t io n o f a n y ta x e s e x c e p t in h e r ita n c e a n d in c o m e ta x e s .
S ee V . 106, p . 87.
E A R N I N G S — F o r c a l. y e a r 1 9 1 7 : G r o s s , $ 8 2 9 ,4 1 6 ; n e t , a f t e r t a x e s a n d
d e p r e c i a t io n , $ 2 2 4 ,1 6 2 ; in c o m e d e d u c t i o n s , $ 7 8 ,3 7 5 ; a p p l ic a b l e t o b o n d in t .
a n d d lv s ., $ 1 6 5 ,7 8 7 .
R O A D . — O p e r a te s a d o u b lo -t r a c k lin e fr o m S y r a c u s e t o R o c h e s t e r , 8 0 m
O F F I C E R S .— P r e s ., A r t h u r W . L o a s b y , S y r a c u s e , N . Y . ; V .- P ’ & G e n .
M g r ., T . O . C h e r r y ; T r e a s ., W . K . Z in s m e is te r S e c ., M e r c e r V . W h i t e .
P c c k -S h a n a h a n -C h o r r y , I n c ., o p e r a te t h e r o a d .— V . 1 0 5 , p . 1 2 1 0 , 1 3 1 0 ,
1803; V . 106, p . 8 7 , 1231, 2451; V . 107, p . 1193.
S Y R A C U S E N O R T H E R N E L E C T R IC R Y „ IN C .
O R G A N I Z A T I O N . — I n c o r p . in N e w Y o r k M a y 1 2 1 9 1 7 a s s u c c e s s o r t o
th o S y ra cu s e A S ou th B a y E le c tr ic R R . a n d th e S y ra cu s e W a te r to w n A
S t . L a w r e n c e R i v e r R R . , b i d In a t f o r e c l o s u r e s a l e o n N o v . 1 1 9 1 6 b y t h e
r e o r g a n iz a t io n c o m m it t e e f o r $ 2 0 1 ,0 0 0 a n d $ 3 5 ,0 0 0 , r e s p e c t i v e ly .
S a le
c o n f i r m e d in M a r c h 1 9 1 7 .
T h e c o m p a n y w a s o r g a n i z e d a s p e r p l a n In
V . 1 0 3 , p . 5 8 0 , a s m o d ifie d a n d a p p r o v e d b y th o P . S . C o m m , b y a n o r d e r
d a t e d A p r il 2 6 1 9 1 7 .
STO CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
C o m m o n $ 1 5 0 , 0 0 0 ( $ 1 0 0 ) ...................................... ..............
$ 1 5 0 ,0 0 0
. .
6%
4 8 0 ,0 0 0
.
................
F i r s t p r e f $ 6 0 0 , 0 0 0 ( $ 1 0 0 ) .................. ..
2 n d p r e f $ 5 0 0 , 0 0 0 ( $ 1 0 0 ) _______________
6%
4 2 0 .0 0 0
.
...................
F ir s t m t g o $ 6 0 0 ,0 0 0 g o l d ($ 2 5 1 1 9 1 7
5 g M -N
1 5 3 .7 5 0 M a y ! 1 9 4 6
$ 1 0 0 a n d $ 1 , 0 0 0 ) ..................... ... ( I n t . a t T r . A D e p . C o . o r O n o n .
S to c k .— A ll c la s s e s o f s t o c k h a v e e q u a l v o t i n g p o w e r .
S t o c k i s h e l d In a
flv e -y o a r v o t in g tr u s t.
T h o tr u s te e s a re A r th u r W . L o a s b y , W illia m N o t
tin g h a m a n d F e r d in a n d W . R o e b lin g J r .
B o n d s .— A r e s u b j e c t t o c a l l in w h o l e o r in p a r t o n a n d a f t e r N o v . 1 1 9 1 7
a t 1 1 0 a n d in t .
I n t. o n $2 5 b o n d s p a y a b lo M a y 1 o n ly .
In t. p a y a b le
w ith o u t d e d u c t io n o th e r th a n F e d e r a l In c o m e ta x .
E A R N I N G S . — F o r 8 m o s . e n d . D e c . 31 1 9 1 7 , g r o s s , $ 6 2 ,9 2 7 ; n e t a ft e r
t a x e s , $ 1 7 ,8 1 0 : in t ., A c . , $ 1 4 ,0 8 3 ; s u r p lu s . $ 3 ,7 2 7 .
R O A D . — O p e r a t o s 1 2 .1 8 m ile s o f s in g le t r a c k e q u iv a le n t o v e r p r iv a t e
r ig h t o f w a y f r o m S y r a c u s e t o O n e id a L a k e , a n d a s in g le t r a c k b r a n c h lin e t o
B r o w e r t o n , 6 .2 m ile s .
H a s t r a ffic a g r e e m e n t w ith N e w Y o r k S t a t o R a il
w a y s C o . t o e n te r S y ra cu se .
N e w r o a d b e g a n o p e r a t io n s A p r il 2 6 1 9 1 7
8 5 -lb T r a i l .
G a u g e. 4 ft. 8
In ch es.
18 cars.
A ll p r iv a t e r ig h t -o f-w a y
P o w e r is p u r c h a s e d f r o m N i a g a r a L o c k p o r t & O n t a r i o P o w e r C o .
O F F I C E R S .— P r o s ., T a l m a d g e C . C h e r r y : V .- P ., T r e a s ., A G e n M g r
W . J . H a r v io ; S o c ., I I . O . B e a t t y , P e c k -S h a n a h a n -C h e r r y , I n c
on ora to
th o r o a d .— V . 1 0 4 , p . 2 0 1 2 ; V . 1 0 5 , p . 7 3 , 4 9 9 ; V . 1 0 6 , p . 1 2 3 1 .
1
A U B U R N & S Y R A C U S E E L E C T R I C R R .— A t r o lle y r o a d .
O R G A N I Z A T I O N .— O rg a n iz e d S e p t. 3 0 1 902 a s a c o n s o lid a t io n o f th e
A u b u r n C it y I ly . a n d A u b u r n In te r u r b a n E le c . R R .
F r a n c h is e p e r p e t u a l.
Financial Readjustment.— I n A p r i l 1 9 1 6 t h o P . S . C o m m . a u t h . a n i s s u e
O f $ 4 3 7 ,0 0 0 6 % 5 -y e a r n o t e e t o r e fu n d t h e $ 2 6 0 ,0 0 0 1 -y r . n o t e s d u e F e b
1
1 9 1 6 , th e $ 1 5 6 ,0 0 0 1 8 -m o s . n o t e s d u e A u g . 1 1 9 1 6 . a n d fo r o t h e r c o r p o r a t e
pu rposes.
A s p a r t o f t ills r e f i n a n c i n g p l a n , t h e c o m m o n s h a r e h o ld e r s w e r e
c a lle d u p o n t o s u r r e n d e r 3 5 % o f th e ir s t o c k , w h ic h w a s d is t r ib u t e d a s a
b o n u s t o s u b sc r ib e r s to th e n o te s a t th o ra te o f l s h a re o f s t o c k fo r e v e r y $ 1 0 0
o f n o te s.
T h e s t o c k s o d e l i v e r e d w a s In t h o f o r m o f v o t i n g t r u s t c e r t i f i c a t e s ,
a n d , t o g e t h e r w ith s u ffic ie n t o f th e r e m a in in g c o m m o n s t o c k t o c o n s t it u t e a
m a jo r it y , w a s d e p o s ite d u n d e r a v o t in g tr u s t a g r e e m e n t e x te n d in g t o J a n . 31
1921.
T r u s te e s a re H e n d r ic k S . H o ld e n , A r t h u r W . L o a s b y a n d F . W .
R o e b lin g J r.
V . 102, p . 1805.
in F e b . 1 9 1 8 Is s u e d $ 2 9 2 ,0 0 0 1 s t A R e f . M . 5 s t o t a k o u p e x is t in g o b l i
g a t i o n s a n d f o r e x t e n s i o n s , A c . _____
Wage Increase.— V . 1 0 6 , p . 2 2 2 7 .
STU CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
. . . . . . . . . $ 1 ,2 5 0 ,0 0 0
.........................
C o m m o n $ 1 , 2 5 0 , 0 0 0 ( $ 1 0 0 ) -----------------P r e f 6 % n -c u in $ 7 5 0 ,0 0 0 ($ 1 0 0 ) - - - 9 "d
7 1 2 ,0 0 0
S eo te x t
A u b u r n & S y r a c u s e fir s t a n d
1902
K 1 * 7 5 2 ,0 0 0 O c t
1 1942
r e fu n d in g
m ortg a g o
$ 2 , I n t . a t H a r r is . F o r b e s & C o .. N e w Y o r k
E q u ita b le T r u s t C o .. N o w Y o r k , tr u s te e .
0 0 0 ,0 0 0 g o ld ( $ 1 ,0 0 0 ) - C * t f
G o ld n o te s $ 4 5 0 ,0 0 0 ($ 1 ,0 0 0 ,
1916
6 g F -A
9 7 .0 0 0 F e b 1 1921
$500 A $100) —
.
t e x t _______ I n t . a t T r u s t & D e p . C o . o f O n o n d a g a , T r u s .
_____ _____ c
B o n d s . — O f t h e $ 2 , 0 0 0 , 0 0 0 a u t h o r i z e d , $ 2 1 8 , 0 0 0 is r o s o r v e d f o r f u t u r e e x
t e n s io n s , b u t o n ly w h e n n o t e a r n in g s a r o d o u b le In t. c h a r g e s ; s u b jo c t t o c a ll
a t 110 an d In terest.
See V . 76, n . 1201.
I n t . o n n o t e s is p a y a b l e w i t h o u t
d e d u c t i o n T or t a x e s o t h e r t h a n F e d e r a l I n c o m e t a x .
T h e y a re r e d . a t p ar
a n d in ty O n ^ a n y in t . d a t e o n 3 0 d a y s ’ n o t ic e .
$ 6 0 ,0 0 0 p a id o f f o n A u g . 1
see
D iv id e n d s .— F ir s t d iv i d e n d o n p r e fe r r e d s t o c k — 1 % — p a i d N o v . 1 1 9 0 4 .
th en 1 % F o b . 1 1 9 0 5 , M a y 1 1905 a n d A u g . 1 1 9 0 5 ; N o v . 1 1905. 1 W %
p a id (S e o V . 8 1 , p . 1 6 0 9 ).
In 1906, 5 ) 4 % ; 1907 to 1913 In ch , 6 % p er
annum .
I n 1 9 1 4 . J a n . , 1 U, % ; A p r i l . 1 ) 4 % : J u l y . 1 U % .
N o n e s ln c e , N o
U iv s . c a n b e d e c la r e d u n t il t h e n o t e s o f 1 9 1 6 a r e p a id o f f , e x c e p t w it h t h o
co n se n t o f th e v o tin g tru stees.
V . 102, p . 1895.
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
Y ea r—
G ross.
N e t.
^ ozes.
I n L jA c .
S u r p lu s ..
1 9 1 7 ........................... $ 6 8 6 , 4 0 3
$ 2 1 7 ,1 6 2
$ 2 4 ,0 7 4
$ 9 8 ,8 9 6
$ 9 4 ,1 8 2
1 9 1 6 ........................... 5 6 8 , 2 1 7
1 4 5 .9 2 7
2 1 .1 0 3
__________
1 0 2 ,5 8 6
2 2 .2 3 8
R O A D . — O p e r a t e s 4 1 .1 6 m ilo s o f r o a d (6 3 .9 3 m ile s o f t r a c k ) , in c l u d i n g
1 4 .1 2 m . in A u b u r n a n d 2 7 .1 in . f r o m A u b u r n t o S y r a c u s e .
lia s tra ck a g e
a g r e e m e n t w ith N e w Y o r k S t a t o R a ilw a y s , a llo w in g it t o e n t e r S y r a c u s o .
O w n s L a k e S id e P a r k , a b o u t 3 3 a c r e s , o n O w a s c o L a k e ; 6 2 p a s s e n g e r c a r s
1 p a r lo r c a r , 3 e x p r e s s , 3 w o r k , 1 s e r v ic e , 2 s w e e p e r s a n d 5 s n o w p lo w s :
to ta l, 77 c a r s .
O F F I C E R S .— P r e s ., H a r o ld O . M e t c a lf . A u b u r n ; V .- P ., H b n d n c k S .
H o ld e n , S y r a c u s o ; V . - P „ T . O . C h e r r y , S y r a c u s e : T r e a s ., A u d .a n d A s s t .
S e c ., L . E
L lp p lt t , A u b u r n ; S e c ., I I. C . B e a t t y , S y r a c u s e ; G e n . M g r .,
W . J . H a r v io : P o ck -H h a n a h a n -C h crry , I n c ., o p e r a te th e r o a d .— V . 105
*
p . , 6 0 5 , 1 3 0 8 ; V . 1 0 6 . p . 1 8 8 . 2 2 2 7 . ____ ____
S Y R A C U S E & S U B U R B A N R R . — A tr o lle y r o a d .
In F e b . 1 9 0 9 a s y n d ic a t e h e a d e d b y M r . J o h n J . S ta n le y o f C le v e la n d , O .,
p u rch a sed th e s to c k o f th e S y ra cu se A S u b u rb a n .
V . 88. p . 607.
O R G A N I Z A T I O N .— C h a rte re d J u n e 2 9 1 8 9 5 .
F r a n c h is e s a r e p e r p e t u a l.
125
In A u g . 1918 w as a u th . b y th e N . Y . P u b . S erv. C o m m , to ex ecu te a
m o r t g a g o t o t h e F id e li t y T r u s t C o . , P h il a ., a s t r u s t e e , t o s e c u r e a n is s u e o f
$ 1 ,0 0 0 ,0 0 0 1 s t R e f . 5 % 5 0 -y r . b o n d s , a n d t o s e ll $ 7 7 5 ,0 0 0 b o n d s t h e r e
u n d e r , p r o c e e d s t o b o u s e d a s fo ll o w s : t o r e fu n d o r r e tir e 1 s t M t g e . a n d 1 s t
C o n s . M t g e . g o l d b o n d s , 8 5 5 0 ,0 0 0 ; t o d is c h a r g e b ills p a y a b l e , $ 9 6 ,5 7 3 ; t o
d is c h a r g e a c c o u n t s p a y a b l e , $ 2 4 ,4 8 9 ; w o r k i n g c a p it a l, $ 2 0 ,1 6 1 ; t o b e h e ld
a s t r e a s u r y a s s e ts , $ 3 3 ,7 5 0 ; a n d t o p a y c o s t o f c o n s t r u c t i o n , e x t e n s io n a n d
im p r o v e m e n t o f fa c ilit ie s .— V . 1 0 7 , p . 6 0 5 .
F a r e s .— I n J u ly 1 9 1 8 a p p lie d t o t h e N . Y . P u b . S e r v . C o m m , f o r a u t h .
t o c h a r g e a m in im u m fa r e o f 6 c e n t s in in c o r p o r a t e d v illa g e s t h r o u g h w h ic h
it ru n s .
V . 107, p . 182.
STO CK A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 4 0 0 , 0 0 0 ( $ 1 0 0 ) _______ ___________
______________
$ 4 0 0 ,0 0 0
S ee tex t
First mtg $400,000 ($500 and/ 1897
5 g F-A
400.000 Aug 2 1927
$ 1 , 0 0 0 ) g o l d ---------------------------- c l l n t . a t F i d e l i t y T r u s t C o . , P h i l a . , t r u s t e e .
New cons mtg $550,000 ($500/ 1903
5 g M-N
150,000 May 1 1953
a n d $ 1 , 0 0 0 ) g o l d -----------c * t f l l n t . a t F i d e l i t y T r u s t C o . . P h i l a . , t r u s t e e .
B o n d s .— O f t h e 1 9 0 3 c o n s . m t g . , $ 4 0 0 ,0 0 0 a r e r e s e r v e d f o r p r i o r lie n s .
D iv id e n d s .— I n 1 9 1 5 , 1 ) 4 % ; 1 9 1 6 , ) 4 % .
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
Y ear—
G ross.
N e t(a ft.T a x ) O th .I n c .
C h a rges.
D iv id e n d s . S u r p lu s .
1 9 1 7 .............$ 1 5 1 , 0 3 9
8 3 9 .8 4 1
S200
$ 3 4 ,1 1 1
_______
S 5 .9 3 0
19161 4 4 .5 2 1
4 2 .5 0 8
371
3 4 ,0 1 9
2 ,0 0 0
6 ,8 6 0
/ W A D . — O p e r a t e s 1 8 .5 2 m ile s o f t r a c k f r o m S y r a c u s e t o E d w a r d s F a lls ,
w ith b r a n c h f r o m O r v ill t o J a m e s v ille .
S t a n d a r d g a u g e ; r a ils , 6 0 a n d 9 0
l b s . : 21 p a s s e n g e r a n d 5 o t h e r c a r s .
O F F I C E R S .— P r e s ., J . J . S ta n le y ; V .- P . & G e n . M g r ., O . L o o m is
A lle n ; V .- P ., W . P . G a n n o n ; T r e a s ., A la n C . F o r b e s ; S e c ., W illis H .
M lc h o ll; A n d ., G . W . A v e r y ; P e c k -S h a n a h a n -C h e r r y , I n c ., o p e r a te th e
r o a d .— V . 1 0 6 . p . 2 5 6 1 ; V . 1 0 7 , p . 1 8 2 , 6 0 5 .
TAMPA,*FLORIDA.
TA A 1PA E L E C T R IC C O .
O R G A N I Z A T I O N .— I n c o r p o r a t e d In F lo r id a o n
O c t. 31
1899.
In
A p r il 1 9 1 3 p u r c h a s e d t h e T a m p a A S u lp h u r S p r in g s T r a c t io n a t fo r e c lo s u r e
s a le .
D o e s t h e e n t ir e e le c t r i c r a il w a y ; e le c t r i c lig h t in g a n d p o w e r b u s in e s s
In T a m p a a n d o p e r a t e s a n e l e c t r i c r a i l w a y b e t w e e n T a m p a a n d P o r t T a m p a
a n d a lin e t o S u lp h u r S p r in g s .
F r a n c h is e is f o r 9 9 9 y e a r s fr o m 1 8 9 9 .
$ 2 3 3 ,
8 0 0 s t o c k is h e ld b y t h e P u b li c S e r v ic e I n v e s t m e n t C o .
S t o c k h o ld e r s v o t e d J a n . 8 1 9 1 2 t o in c r e a s e s t o c k fr o m $ 1 ,7 0 0 ,0 0 0 t o
$ 1 ,8 7 0 ,0 0 0 .
V . 93. p . 1601.
In F e b . 1 9 1 3 m a d e a fu r t h e r In cre a se t o $ 2 .
2 4 4 .0 0 0 a n d In J a n . 1 9 1 4 t o $ 2 , 6 1 8 , 0 0 0 . V . 9 8 . p . 1 5 6 .
I n A u g . 1 9 1 7 In
c r e a s e d s t o c k t o $ 2 ,8 7 9 ,8 0 0 .
S t o c k h o ld e r s o f r e c o r d S e p t . 15 1 9 1 7 w e r e
g iv e n th e r ig h t t o s u b s c r ib e f o r th e n e w s t o c k p r o r a ta a t p a r .
V . 105, p .
STO C K A N D BO N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 2 , 8 7 9 , 8 0 0 ( $ 1 0 0 ) ..............................
Q -F 15
$ 2 ,8 7 4 3 0 0 A u g T 8 , 2 «
1st m t g o $ 2 ,0 0 0 ,0 0 0 ( $ 1 ,0 0 0 / 1 9 0 8
5 g . J -D
977 000 J u n e 1 1933
a n d $ 5 0 0 ) g o l d ----------------c * t f \ I n t . a t A m e r . T r u s t C o . , B o s t o n , t r u s t e e .
B o n d s .— C a ll a b lo a s a w h o le ( o r in p a r t f o r s i n k , f d . ) a t 1 0 5 a n d I n t . a t
a n y tim e .
$ 1 7 3 ,5 0 0 a r e in t r e a s u r y .
S in k , fu n d o f 1 % o f b o n d s o u t
s t a n d i n g y e a r l y , p a y a b l e in A u g u s t ; $ 7 9 ,5 0 0 In s in k i n g f u n d c a n c e l e d .
D iv id e n d s .— 5 % s e m i-a n n u a lly f o r s e v e r a l y e a r s u p t o N o v . 1 9 0 7 , w h e n
a d iv . o f 2 % w a s p a id .
I n 1 9 0 8 , 7 % ; In 1 9 0 9 . 7 % ; In 1 9 1 0 . 8 % ; in 1 9 1 1 .
a n d s in c e
10% .
E A R N I N G S .— F o r 12 m o s . e n d in g J u n e 3 0 :
Y ear.
G ross.
N e t (a ft. T a x ). In te r e s t.
S in k . F u n d .
S u r p lu s .
1 9 1 7 - 1 8 -------------$ 1 , 0 0 3 , 6 4 2
$ 4 2 0 ,5 5 3
$ 5 1 ,0 1 7
$ 9 ,6 8 1
$ 3 5 9 ,8 5 5
1 9 1 6 - 1 7 ................
9 9 7 ,7 3 7
4 5 4 ,8 8 5
4 3 ,4 5 3
8 .8 0 2
4 0 2 ,6 3 1
R O A D . — O p e r a t e s 5 2 .7 1 m ile s o f e q u iv a le n t s in g le t r a c k .
S ta n d a rd
gauge.
90 cars.
O w ns 2 am u sem en t parks.
H a s s te a m p o w e r s ta tio n
w it h 1 4 ,5 0 0 k .w . c a p a c i t y a n d h y d r o - e le c t r i c s t a t io n w it h 6 0 0 k .w . c a p a c i t y .
O F F I C E R S .— P r e s ., G e o . J . B a ld w in ; V .- P s .. P . O . K n ig h t a n d H a r r y
IT . H u n t : T r e a s . , H e n r y B . S a w y e r : S e c . , A l v a h K . T o d d : G e n . M g r s . .
S t o n e & W e b s t e r M g t . A s s n .— V . 1 0 5 , p . 8 2 0 , 1 3 1 0 ; V . 1 0 6 , p . 3 9 7 .
TAUNTON, MASSACHUSETTS.
B R IS T O L
C O U N TY
STR E E T
R A IL W A Y .
S a le .— O n N o v . 2 8 1 9 1 7 S w if t , M c N u t t A C o . , b u i l d i n g w r e c k e r s ,
B o s t o n , p u r c h a s e d t h is c o m p a n y ’s p r o p e r t y a t f o r e c lo s u r e s a le a t A t t l e b o r o .
M a s s ., f o r $ 1 1 0 ,0 0 0 .
V . 105, p . 1707, 2183.
T h e lin o h a s b e e n d is m a n t le d
w it h t h e e x c e p t io n o f t h e 3 .4 m ile b r a n c h f r o m B r ig g s C o r n e r t o A t t le b o r o
w h ic h w a s p u r c h a s e d b y t h e c it y o f A t t le b o r o .
T h e c ity , w o u n d e rsta n d ,
is o p e r a t i n g t h e l i n e u n d e r t h e n a m e o f t h e A . B . C . S t r e e t R a i l w a y u n d e r
s o m e w o r k in g a g r e e m e n t w ith t h e I n te r -S ta te Str e e t R y .
TEMPLE^*TEXAS.
S O U T H W E S T E R N T R A C T I O N C O .— A t r o lle y r o a d .
S a le .— T h e r o a d w a s s o ld a t a u c t io n o n D e c . 1 8 1 9 1 7 t o F . F . D o w n s ,
W . J . Y e a g e r a n d C a lv in G r e e n , r e p r e s e n tin g th e b o n d h o ld e r s .
T h e s a le
w a s c o n s u m m a t e d a n d t i t l e t r a n s f e r r e d o n J u l y 1 1 9 1 8 a n d t h e p r o p e r t y is
b e in g o p e r a te d b y W . G . H a a g a s tr u s te e fo r th e p u rch a se rs .
E A R N I N G S .— F o r c a le n d a r y e a r 1 9 1 7 , g r o s s , $ 3 9 ,7 0 5 ; n e t , a ft e r t a x e s .
$ 3 ,0 0 1 .
I n 1 9 1 6 , g r o s s , $ 4 1 ,0 2 8 ; n e t , a f t e r ta x e s , $ 3 ,0 3 0 .
R O A D . — O p e r a t e s 1 4 .7 m ile s o f t r a c k b e t w e e n T e m p l e a n d B e l t o n .
T e x . , w it h l o o p in e a c h c i t y . 6 0 - l b .T r a l l s . S t a n d a r d g a u g e .— V . 1 0 6 . p . 8 7 .
THOMPSONVILLE? CONNECTICUT.
H A R T F O R D & S P R I N O F I E L D S T R E E T R Y .— A tr o lle y r o a d .
A p p l i c a t i o n f o r R e c e iv e r .— I n S e p t . 1 9 1 8 W . C . M a s o n & C o . o f H a r t f o r d ,
C o n n ., a p p lie d t o J u d g e W i lla r d S . C a s e in t h o S u p e r io r C o u r t f o r th e
a p p o in t m e n t o f a r e c e iv e r f o r th e c o . , a lle g in g t h a t t h e y h o ld a n u n p a id
c la im o f $ 2 ,5 0 0 f o r c o a l.
O R G A N I Z A T I O N . — W a s f o r m e r l y k n o w n a s t h e E n f i e l d St L o n g m e a d o w
E l e c t r i c R y . ( w h i c h w a s i n c o r p o r a t e d o n F e b . 11 1 8 9 5 ) , b u t In M a y 1 9 0 1
s t o c k h o ld e r s v o t e d t o c h a n g e th e n a m e as a b o v e , a n d t o r e c o n s t r u c t a n d
r e -e q u ip r o a d .
C o n n e c t s w i t h t h e H a r t f o r d S t r e e t R y . in H a r t f o r d a n d t h e
S p r i n g f i e l d S t r e e t R y . In S p r i n g f i e l d , M a s s .
In J u n e 1901 p u rch a se d th e
E a s t W in d s o r S tr e e t R y . C o .
F r a n c h is e s p e r p e t u a l.
C o n tr o lle d th e S o m
e r s A E n f i e l d E l e c t r i c R y . C o . , w h i c h o n A p r i l 1 1 9 0 4 w a s m e r g e d In t h e
H a r t fo r d & S p r in g fie ld S tr e e t R y .
V . 78. p. 1446.
A ls o p u r c h a s e d th e
p r o p e r t y o f t h e W i n d s o r L o c k s T r a c . C o . , s u b j e c t t o I ta m o r t g a g o .
In 190*
th e L e g is la tu r e g r a n t e d p e r m is s io n t o I n c r e a s e s t o c k t o $ 1 .0 0 0 ,0 0 0 fr o m t im e
t o t im e , p a r t t o b o p r e fe r r e d , a n d a ls o t o e x t e n d tim e fo r c o n s t r u c t io n u n t il
J u ly 1 1 9 0 7 .
See V . 79. p . 2697.
In J u ly 1 9 0 6 a b s o r b e d th e R o c k v ille
B r o a d B r o o k Sc E a s t W i n d s o r S t r e e t R y . , w h i c h o p e r a t e d 1 4 m i l e s o f t r a c k
fr o m W a r e h o u s e P o in t t o R o c k v ille .
V . 8 3 . p. 213.
F a r e I n c r e a s e .— A n in c r e a s e in fa r e s o f f r o m 6 t o 7 c e n t s w a s p u t in t o
e f f e c t o n M a y 2 0 1 9 1 8 in t h e z o n e s o p e r a t e d in C o n n e c t ic u t .
STO C K A N D BON DS—
D a te .
In ter es t.
O u ts ta n d in „ .
g
.
C o m m o n $ 5 0 0 ,0 0 0 ($ 1 0 0 ).
--------------$ 5 0 0 ,0 0 0
......................
P r e fe r r e d $ 5 0 0 ,0 0 0 6 % n o n 6 M -N
2 8 5 .0 0 0 N o v T 2 , 2 %
c u m r e d e e m a b l e a t 1 1 0 ____
F ir s t m t g e $ 6 0 0 ,0 0 0 ($ 1 ,0 0 0 )
1901
6 g J - J,
6 0 0 ,0 0 0 J u ly 1 1 9 2 1
g o l d ............................................ c * t f I n t e r e s t p a y a b l e a t A m e r i c a n T r u s t C o . ,
B o s to n ; T r e a s . o f C o n n e c tic u t, tru s te e .
W in d s o r L o c k s 1st M $ 3 0 0 ,-/ 1904
5 g J -J
1 6 1 ,0 0 0 J u ly 1 1 9 2 4
0 0 0 g ($ 1 ,0 0 0 ) g u p A l _ c * t f ( in t e r e s t a t A m e r ic a n T r u s t C o .. B o s t o n
R o i K vJ L 1]l & 15 W i n d 1 s t m t g
1906
5 k A -O
2 0 0 ,0 0 0 A p r il 1 1 9 2 8
$ 3 0 0 1 ,0 0 0 g g u ( $ 1 . 0 0 0 ) , c * t f l i n t . a t A m . f r . C o . , B o s . ; T r e a * . o f C o n n ..t r u s t .
B o n d s .— S e e V . 7 8 . p . 1 2 2 3 .
T h e W in d s o r L o c k s b o n d s a re g u a r a n te e d ,
p r ln . a n d i n t .. b y th e H a r t fo r d A S p r in g fie ld S tr e e t R y .; $ 1 3 9 ,0 0 0 a r e r e
s e r v e d fo r a d d it io n s a n d Im p r o v e m e n ts .
T ru s te e , T rea su rer o f S ta te o f
C o n n e c tic u t.
T h e s e b o n d * a re s u b je c t t o c a ll a t 1 1 0 a n d In t. o n a n y I n t.
d a te.
R o c k v . B r o a d B r o o k A E a s t W in d s o r S tr e e t R y . b o n d s a re g u a r .,
p . & L , b y H a rtL A S p r in g !. S t. R y .
T h e y a r e s u b j. t o c a ll a t 1 1 0 A I n t .
D iv i d e n d s .— O n p r e f . in 1 9 0 6 , 6 % ; In 1 9 0 7 . 6 % ; n o n e t o M a y 1 9 1 0 . w h e n
1 % w a s p a id ; N o v ., 2 %
In 1911, 5 % ,
In 1912, M a y , 2 % ; N o v ., 2 % .
N o n e s in c e .
E A R N I N G S .— F o r y e a r s e n d in g D e c . 3 1 :
Y ear—
G ross.
E xp . & T ax.
N e t.
In ter es t.
S u r .o r D e f.
1 9 1 7 .......................$ 2 4 4 , 0 5 7
$ 2 0 2 ,0 1 1
$ 4 2 ,0 4 6
$ 4 S ,6 4 9
d e f.$ 6 .6 0 3
1 9 1 6 ...................
2 3 6 ,4 5 1
1 7 6 ,2 2 0
6 0 .2 3 1
4 8 ,5 3 9
s u r .1 1 .6 9 1
1 9 1 5 ...................... 2 2 7 . 2 9 6
1 7 1 ,9 2 8
5 5 ,3 6 8
4 9 ,0 3 7
s u r . 6 .3 3 1
R O A D .— O w n s
13
m ile s
o f t r a c k fr o m S t a t e lin e t o E a s t W in d s o r
H ill, w h ic h w a s f o r m a ll y o p e n e d o n J a n . 1 5 1 9 0 2 , a n d 7 .8 0 m ile s if o r m e r l y
S o in o r s A E n fie ld E le c t r ic R y . ) fr o m T h o m p e o n v ll le t o S o m e r s .
A l s o a lin e
f r o m S u f f i e l d t o a c o n n e c t i o n w i t h t h e H a r t f o r d 8 t r e e t R y . , 9 .7 0 m i a n d a
lin e f r o m W a r e h o u s e P o i n t t o B r o a d B r o o k , 1 4 .4 5 m il e s .
H as tra ck a g e
r i g h t s in H a r t f o r d a n d S p r i n g f i e l d , m a k i n g t o t a l m i l e a g e o p e r a t e d . I n c l u d i n g
s id in g s . 4 4 .9 5 m ile s .
S ta n d a rd g a u g e .
5 6 . 6 0 a n d 7 0 -lb . T r a il.
4 6 oars.
O F F I C E R S . — P r e s ., P h ilip L . S a lt o n s t a ll, B o s t o n , M a s s .; V .- P
P. O
P e r k in s , H a r t fo r d , C o n n .; S e c . A G e n . M g r ., J . M . M e llo r . W a r e h o u s e
P o in t , C o n n .; T r e a s ., G e o . S . W e s t , B o s t o n , M a s s .; A s s t. T r e a s .. L e s te r
E . F lin t , B o s t o n , M a s s .— V . 9 6 , p . 1 2 9 7 ; V . 1 0 0 , p . 1 1 6 8 ! V . 1 0 6 , p . 2 3 4 5 .
Maturity
[Vol , 107.
ELECTRIC RAILWAYS
126
TOLEDO, OHIO.
TOLEDO BOWLING GREEN & SOUTHERN TR AC TIO N CO.
O RGAN IZATION .— Incorp. In 1901 as a consolidation of the Findlay
St R y.. the Toledo Bowling Green dc Fremont Ry. and the Hanoock Light
& Power Co. of Findlay, O. Formerly leased to the 'l oledo Urhan t Inter
urban R y., but rental due April 1 and July 1 1908 having been defaulted,
Igjisg w« Cftucolod.
is
The entire property o f the Toledo Urban A Interurban Ry. waa sold on
Aug. 23 1909. under foreclosure, to the Toledo & Findlay lty. C o ., which
property was afterwards purchased by Toledo Bowling Green & Southern
Traction C o., and the latter company assumed Its bonded debt. V. 8 8 . p.
14I d F e b .8191^ was granted a now franchise for 25 years In Findlay.
old franchises had 10 years more to run, but were canceled.
The
In Oct 1916 the Ohio P. U. Comm. auth. the Issuance of $141.oOO addi
tional 1st M . 5s for impts. and the discharge o f obligations. Up to Sept. 1
1 9 1 8 these had not yet been Issued.
r, „ _ _
Fare Increase.— I n J u l y 1 9 1 8 w a s a u t h . b y t h e O h io P . U . C o m m , t o
I n c r e a s e i t s m il e a g e c h a r g e , e f f e c t i v e A u g . 1 1 9 1 8 .
V . 107, p . 4 03 .
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $1.500.000—
$1,125,000 - - - - - - - - -
Prof * 7 * 0 000 (non-cum)---------- -----Q-F
750,01X1
bee text
First n d g ^ $1,500,000 gold I 1901
5 g M -N
1,018 500 May 1 1921
($1.000 and $500).........n tf lin t, at Central Tr. & S.
Oo~A0 i“ -;,1
W 0? ;
Toledo & Findlay mortgage/ 1910
5 J-J
480,000 Jan 1 1945
$500 0 0 0 g o l d /...- l ! n t f | U n i o n Sav. Bank & Trust C o.. Ola., truster
Findlay Street 1st cons mtgef 1899
6 g J -D
„
2 l § ,0 0 r,.Dec, i .A®24
$275 000 gold
___ntflOentra Tr. & Safe Dep. C o., Oln., trustee
*
’
8
I lut. at Metropolitan Trust C o.. N. Y.
Bonds.— Ot the bonds of 1901. $275,000 are reserved to retire Findlay St
Ry bonds. The Toledo & Findlay mtge. is a first mtge. on the property or
the"acquired Toledo Urban & Interurban Ry.
Dividends.— On pref., 1H % quar. from Aug. 1910 to and including Aug.
($200,000) of tho Trenton Hamilton & F wing Traction C o., operated as part
I
of Trenton St. Ry. System, guarantees its bonds, principal and interest.
In Aug. 1911 increased auth. stock from $1,000,000 to $2,500,000.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS—
$1,000,000 __________
Stock $2,500,000 (par $ 5 0 ).............................—
120.000 1918-1925
Trenton Passenger first rntgof
($15,000 due yiy Sept. 30
$1,000,000 gold ($1,000) 1891
6 g A-O
100.000 1926-1930
each)__________________ c*(
($20,000 duo yly Sopt. 30
Interest at Mechanics Nat.l
650.000 Sop 30 1931
Bank, Trenton. N . J __ (
1,130.000 July 1 1938
Consolidated mortgage gold! 1898
5 g J-J
_ $2,000,000 ($1.000)___ c*\Interest In Trenton and at Real Estate litle
( Ins. & Tr. C o., Phlla.; Girard Tr. Co.,trus.
Trenton St Ry gen M $500.-f 1911
6 J-D
500,000 Juno 1 1941
000 gold (SI.000)_____c* \Bankers Trust Co.. Now York, trustee.
Guaranteed Bonds—
„
Trenton Pennington & Hopei 1903
5 g J-D
350,000 June 1 1943
first mortgage $350,0001 Int. at Fidelity Trust Co., Newark, trusteo.
gold guaranteed_________ l Guar., prin. & Int., by Trenton Street R y.
Trenton Hamilton & E 1st M l 1905
5 g M-N
405.000 Nov 1 1955
$500,000 ($1,000) g o ld ..c * lin t, at Real Est. T . I. & Tr. Co., Phlla.,trus.
Mercer Co Tr 1st M $300.0001 1904
5 J-J
300,000 July 1 1944
gold ($1,000) guar p & l_c*\Real Est. Tit. Ins. & Tr. Co.. Phlla., trustee.
Bonds.— $870,000 consolidated 5s of 1898 are reservod to retire first 6 sTrenton St. Rv. gen M . bonds are subj to call at 10.5 S Int. on any int.
i
day. V. 93, 'p. 797. Are listed on Pliila. Stock Exchange. Mercer
County Trac., Trenton Pennington & Hopewell and Trenton Hamilton S
c
Ewing Trac. bonds aro guar. p. & i. by end. by Trenton Stroot R y. V . 94,
OFFICER'S.— Pros.. John A. Rigg; Sec. & Treas.. T . W Orookot. Jr.
— V. 93, p. 797: V. 94. p. 828; V. 105. p. 2273; V. 106, p. 1901, 2230.
NEW JERSEY & PENNSYLVANIA T RA CT ION CO.— A trblley road.
ORGANIZATION.— Incorporated in New Jersey on Nov. 14 1901 and
acquired the Trenton Lawrenceville & Princeton R R .. the Trenton Law4 ^EARNINGS.—T"or year ending Dec. 31 1917, gross, $486,101; net,
ranceville & Princeton Extension R R . and the Princeton Street Ry.
On May 13 1913 the Trenton Now Hope & Lambertville St. Ry., Yardloy
3 1 ItOA D .— Comprises 7144 miles from Toledo to Findlay and Perrys burg.
flO-lb and 72-lb. T and girder rails. Owns 30 passenger and 3 express care. Morrisvllle & Trenton St. Ry. and the Newtown & Yanlloy St. R y., for
Sen
8 OFFICERS.— Pre«., B. 1,. Kilgour; V .-P., Cha*. Kllgour; Sec. * Treas., merly owned, were taken over by the Bucks County Interurban Ry.
that company under “ Newtown, Pa.” On
1917 the co.
A. J. Becht; Asst. Sec. * Treas., Morrta McOrew. all of Cincinnati; Gen. $500,000 of Its $1,000,000 capital stock M ay 15 Bucks Co. transferred
to the
Interurban
M gr., Chas. F. Smith, Findlay. Offices, Findlay, O — V. 107, p. 403.
Ry. (uow Pa.-N. J. Ry. C o.), the other $500,000 being surrendered and
TOLEDO FOSTORIA & FINDLAY RAILW AY.
Franchises are perpetual, except In Trenton, which runs to 1953ORGAN IZATION .— Incorporated in 1900.
Fares.— On Feb. 23 1912, owing to a Court decision, reduced fares from
In Nov. 1916 purchased the 11 )4 -ndle line of tho Lake Erio Bowling Green
& Napoleon R R .. between Pemberville and Bowling Green (bid in at re- ■ Trenton to Yardley from 10 to 5 cents. V. 94, p. 631. This decision was
by the
Court of
Nov 18 1912.
ceiver's sale on Aug. 5 1916 by the bondholders— V. 103, p. 6 6 b. 1032. V. reversed1913, in Now Jersoy a petition Errors and Appeals onBoard of Public
In Jan.
response to
by the receivers, the
1 0 F a r e 'in crea se .— I n J u l y 1 9 1 8 w a s a u t h . b y t h e O h io P . U . C o m m , t o Utility Commissioners fixed the rate of faro between Trenton and Princeton
at 15 cents Instead of 10 cents, and on Oct. 10 1916 the Board auth. an
in c r e a s e it s m il e a g e c h a r g e , e f f e c t i v e A u g . 1 1 9 1 8 v -J 07’ p '
Inereaso to 20c., providing for 4 fare zones and continuing the sale of cornSTOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
mutation tickets at 12 for $1. On May 10 1918 was auth. by the N. J.
8 tock common ($ 1 0 0 ) - . - - ---- -------®inn non "qllVaVt- * 1>. U. Comm, to increase fares from 5 cents to 6 cents m each ot the 4
o
F^rR- m ortgage $450,000° gold ( 1900
/
5 g A-O
3701000 Oct 1 1920 zones between Trenton and Princeton and to eliminate com inutat 1 *
($1 000)
5^0U'U U * c{ Int. at Cleveland Trust Co.. Cleve.. trustee. tickets, effective May 27 1918. Tho new rates, however, have boo*
U
suspended until Dec. 10 1918 unless approved at a hearing to bo give*
Bonds may" be” called at any time. Sinking fund began July 1 1905.
Oct. 22 1918.
$80,000 bonds have been retired.
. . .
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Dividends.— 1 M % Is being paid quarterly on preferred stock.
EARN INGS.— For calendar year 1917, grass. $257,099: net after taxes. Stock $500,000 ($100)......................
------*500.000 - - - - - - - - -
4 g M -N
600,000 Nov i 1932
$65,746. In 1916, gross, $238,040; net, after taxes, $88,233. In 1915, First mtge (See text) gold— j 1902
($1 000)
c*tf l Int. at Trenton Tr. & Safe Dep. C
trustee.
$208,088: net, after taxes, $84,234.
_
, ,
The 1st M." was "originally for $3,000,000, but has been closed at $600,000.
g ROAD .— Operates 61 miles between Bowling Green, Toledo, Fostoria
Stock.— The $500,000 reported outstanding is hold by tho Pa.-N. J.
and Findlay. Portions between Pemberville and Toledo put In operation
Ry Co
ROAD.— Comprises 13.25 miles, as follows: N. J. & P. Trac. In Trenton
11
o 'f FICERS.— Pres., H. C. Greer. Morgantown, W. Va.; V .-P., C. C.
and Lambertville, 1.70 miles; Trenton Lawrenceville & Princeton RR..
Fernsell Jr Dover: Sec. & Treas., A. J. Krantz. Dover: M gr., E. Smith,
9.56 miles; Tron. Law. & Princeton Extension R R .. 1.46 miles, and Prince
Fostoria — V 78, p. 704; V. 103. p. 1889; V. 107, p. 403.
ton St. Ry.. 0.53 mile. Gauge. 4. ft. 8 H in.; 70 and 80-lb. T rail and 90-lb.
TOLEDO & INDIANA RAILROAD CO.— A trolley road.
cjirfior •
ORGAN IZATION .— Incorporated In Ohio In Jan. 1911 and on June 29
EARN ING S.— For year end. Dec. 31 1917 (Princeton Division), gross,
1911 took over the Toledo & Indiana Traction Co. (V. 93, p. 230), assuming $84,816; net. after taxes, $13,427. In 1916, gross, $80,811; net, after
all of latter's liabilities. &c. The Toledo & Indiana Traction on Feb. 8
1910 was successor of the Toledo & Indiana Railway,sold under foreclosure ta m m oT U t3 .'— Pres.. Sydney L. Wright, Phlla.; V .-P . & Gen. M gr.,
on Jan. 18 1910. V. 90, p. 237. 448. Most o f road Is on private right of Gavlord Thompson. Trenton: See. & Treas.. Walter I . Bilyeu Phlla —
way. Franchises are perpetual except one for road crossings In Fulton v 95° p. 176; V 96, p. 1557; V. 104, p. 257, 2641; V. 106. p. 2229; V. 197.
County, expiring In 1935.
p. 1 1 0 1 .
________ __
STOCK AND BONDS—
Date.
Interest. (Mitstandina. Maturity.
ainpii
run non
_ ___
Q-J
$l,04u,000
See text.
Tol l Ind'IYaclVt"mortgage/ 1911
5 g J-J ^
400.000 Jan 2 1931
T R O V & NEW ENGLAND R A I L W A Y . — A trolley road.
$400,000 gold ($1.000). .c*)Tnt. at Columbia Trust Co , N Y trustee.
Road passed into hands of receiver Jan. 31 1906. On July 1 1907 control
Bonds.— Toledo & Indiana Traction 1st M. bonds are subject to call at
was acquired by tho Del. & Hudson Interests, all indebtedness was adjusted
102V4 and int. on any int. date. V. 92. p. 1244, 1375.
Dividends.— Dividends at the rate of 4% per annum wore paid to and and receiver discharged. V. 85, p. 100.
..
, , , , .
ORGANIZATION.— Incorporated Doc. 17 1889. Mostly private right
‘n E A R N IN O S .-F o r ile n d a r year 1917. gross. $272,533: net, after taxes. of way. Franchises perpetual.
$44,587; bond Interest. $20,000; surplus, $24,587.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
ROAD.— Operates 55.91 miles of track (of which 47.54 aro on private stock 4150 0 0 0 ($100)
_______
$180,000
Soe text
right of way) from Toledo westerly to Bryan. Enters Toledo over tracks First mortgage $160,000 gold f 1895
5 g F-A
160 000 Aug 1 1945
of Toledo Railways & Light Co.
$500
...........................lin t, at office of company. Albany. N. Y.
OFFICERS.— Pres., D. D. Schenck; V .-P ., S. D. Carr, Sec., O. F .
ROAD.— Total track, Including sidings, 9.15 miles; standard gauge, laid
Chapman Jr.; Treas., L. R. Schenck; And.. O. B.. Kleinhans; Gen. M gr., with 65-lb. rail; running from Albia to Avorill Park.
H. O. Warran, all of Toledo.— V. 93. p. 230, 287; V . 96, p. 1774.
Dividends:— In 1910. Jan.. 4% . In 1911, Jan. 4% ; Dec..
In
1912 D e c. 3% . In 1913. 2% . I n l9 1 4 .2 % . None since.
TROY, N. Y.
TRENTON, N. J.
TRENTON & MERCER COUNTY TRACTION CORPORATION.
ORGAN IZATION .— Incorp. on Oct. 6 1910 In New Jersey with $10,000
stock ($100), increased In Nov. 1911 to $400,000, of which $200,000 is prof.
V 93 p 1260. On Oct. 15 1910 leased for 990 years Trenton Street Ry.,
Mercer County Trac., Tren. Ham. & Ewing Trac. and Trenton Pennington
& Hopewell St. R y . at a rental of $80,000 tho 1st year. $82,500 the 2d SS.’i 000 the 3d. thon Increasing $5,000 yearly until the maximum of $150,000
is reached.
In Jan. 1918 failed to pay rental on tho Trenton Street Ry. properties,
but was granted an extension of time until April I 1918 and then to July l
1918 in which to make payment. (Up to Sept. 1 1918, we are informed,
this had not been paid.)
„
^ x
.
..
.
On Aug. 2 1917 Judge Swayze In the Supreme Court at Trenton confirmed
the decision of the P. U. Comm, on Dec. 14 1915 that the withdrawal of
the sale of 6 tickets for 25 cents was not just and reasonable. V . 102, p. 6 8 ;
V. 105. p. 608. An appeal was filed In Oct. 1917 with the Court of Errors
an[n Vi in?'' 1917 L e ' l\ ' IJ. Comm. auth. the issue of $6 6 ,0 0 0 5% notes to
the Mechanics Nat. Hank Trenton, for tho purchase of 10 new cars. V . 104,
p. 2344. In Dec. 1917 this order was niocfified by changing the interest
tO 6 ^ •
fo
Favorable Tax Decision. — See V. 106, p. 1345.
Wane Increase.— Carmen in this co s employ received a wage increase of
2 cents per hour bringing wages up to 31 cents per hour, etlective Nov
8 1917. In June 1918 a strike was averted by increasing tho wages to 38
C° f} a RNIN>
OS.—F or "cal1 year8 1917, gross, $880,558; net, after taxes,
,
$300,814. In 1916. gross, $853,743; net, after taxes, $326,108.
»AU.— Owns and controls by lease about 72 miles of track, comprising
all local street railway in Trenton and interurban lines to Yardville, 7 renton
Junction Pennington. Hopewell. Lawrenceville, Princeton and Hamilton
Square. The new tracks have 90-lb. Johnson girder rails.
OFFICERS.— Pres., Rankin Johnson.— V. 106, p. 1462, 2561, 2758.
(1) T renton Street R y.—Trolley. The United Power & Transporta
tion Co owns 19.969 out of the 20.000 shares or stock outstanding.
Lease.— 18 leased to Trenton & Mercer County Trac. Corp. (see above).
V 'ORGANIZATION .— Formed June 29 1898 by consolidation of tho Tren
ton Passenger Ry.. Mulberry Street Passonger Iiy., Pennington Avenue
Passenger Ry. and Ewing Passenger Ry.
On June 19 1899 tho Mercer County Traction Company was formed
with a capital of $100,000 to enable the Trenton Street Railway Company
to build an extension of 11.42 miles into Princeton and in the city of Tren
ton
The entire stock is owned by the Trenton Street Railway. Is oper
ated as a part of Trenton Street Ry. system. In June 1903 acquired entire
capital stock($250,000) of Trenton Pennington & Hopewell St. Ry., which
Is also operated as part of the Trenton St. Ry. System and whose bonds It
guarantees, p. & i. Also on May 1 1906 acquired entire capital stock
E A R N I N G S .— For cal. years;
Year__
Gross.
Met. Oth. Inc. Chgs.S-Tax.
Defici
1917
...$ 2 9 ,8 2 4
$10,509 $291
$12,364
$1,664*
1916
I I I I I I ............. 34,259
10.665 289
11.997 v
rT 1.043
OF'FICERS.— Pros., L. F. Loreo, New York; V .-l’s., W. It. Williams,
N Y F P Gutelins and H. B. Weatherwax, Albany; Asst, to Pres., W. B..
Schofield. N. Y.; Asst, to V.-P., G. II. Barker. N. Y.; Sec. & Aud., W. H.
Elder: Treas., H. F. Atherton. Albany; Comp., W. H. Davies, N. Y.
Gen. M gr., A. E. Reynolds, Albany.— V. 83. p. 437; V. 85, p. i00.
TUSCALOOSA, ALA.
TU SCALOOSA R AI L W A Y & UTILITIES CO.
ORGANIZATION.— Incorp. in Oct. 1915 as a consolidation of the belt
railway formerly owned or controlled by the Birnilngham-Tuscaloosa Ry.
& Utilities Co., and the Tuscaloosa Ice k Lt. Co. The railway was operated
as a steam line until 1914. when lt was extended and electrlrled; It Is strictly
a belt and terminal railway, handling freight and passengers to and from all
railway stations and ha« interchange tracks with all steam roads entering
Tuscaloosa- extends to the town of Holt; total miles operated. 14. Also
supplies without competition electric light, gas and Ice to Tuscaloosa and
suburbs. Capacity of co's ice plant, 60 tons per day; of leased plant
31 tons per day; total daily capacity, 91 tons. 1 he railroad franchise
Is perpetual and the gas and electric franchises are of 30 years duration.
Has electric-lighting contract with the city of Tuscaloosa. Power Is pur
chased under long-term contract from the Alabama Pow. Co., the co. s own
plant being maintained as an auxiliary.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
qtnek S-tflO 000
____
_______
$300,000 --------------First mtg $ LOOO.OOO"($ 1 ,0 0 0 , / 1915
Og J-J
96U.300 July 1 1940
$500 and $100) g o ld ..o*tfl Republic Trust C o.. Philadelphia, trustee.
Bonds.— Remaining bonds are reserved for oxts.. equip, and Impts. at
80% of cost. Red. at 102 and hit. on July 1 1918 and any int. date there
after. See description of bonds and peoperty In V. 102. p. 1898.
EARNINGS.— For years ending Dec. 31:
Surplus.
Interest.
Year—
Gross.
Expenses.
AreL
$37,160
$58,158
1917 _________ $229,486
$134,168
$95,318
36.142
54,972
1916
............. 208.963
117,849
91,114
— V. 103. p. 1120.
_______
f
VICKSBURG, MISS.
VICKSBURG LI G HT & TRA CT ION CO.
ORGANIZATION.— Incorp. In Miss, on July 1 1012, taking over the
Vicksburg Trac. C o., Vicksburg Lt. & Pow. C o.. Vicksburg S Yazoo Trac.
c
Co and Electric Power Co. Operates the entire street railway and electric
lighting business In Vicksburg and suburbs. Franchises In Vicksburg run
tofa) street railway. 1948: ( 6 ) lighting, I'GO. For railway outside the city,
has grant from United States Government.
Hm p t ., 1918.]
ELECTRIC RAILWAYS
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Stock $1,000,000 ($100)...................
.............
$1,000,000 ............ ..
First mtge $1,500,000 gold/ 1912
5 J-J
795,000 July 1 1932
($500 and $1.000)___ c ’ t flln t. at Central Tr. Co. o f III., Chic.. trusts*.
Debenture bonds $400,000] 1912
0 J-J
278,000 July 1 1922
gold ($1,000).............. c*tf lint, at Central Tr. Co. o f 111.. Chic., trustee
Bonds.— $705,000 1st mtge bond* are reserved for additions and exten
sions at 85% of coat. Ked. at 105 and int. on any Int. date. V. 95. p. 49
Debentures are rod. at 101 and Int. on auy Int. date. See V. 90, p. 488.
E A R N IN G S — 12 months ending Dec. 31:
1917.
1916.
1915.
G ross..................
$198,888
$187,435
$167,392
Net after taxes...................
59,268
72.108
63,350
R O A l).—Owns and operates 11 mllee o f track; standard gauge: mostly
80-lb. T rails: 20 cars.
OFFICERS.— Pres., Wm. B. .Walter, Chicago: V .-P., J. N. McOallum,
Sec. A Treas., I. C. Elston Jr.; Oen. M gr., E. S. Myers.— V. 95, p. 49:
V. 96, p. 287. 488; V. 99, p. 200. 896; V. 103. p. 240.
137
Int. on any Int. date. Peru Division bonds are a Hen only on section of road
between Peru and Warsaw. Amount reported outstanding Includes $290.
200 bonds sold and $1,303,500 used as collateral for loans.
EARNINGS.— For fiscal year ending June 30 1917, gross, $224,956; net.
after taxes. $55,598. In 1915-16. gross, $224,664; net, after taxes, $56,768.
ROAD.— Operates 70 miles between Goshen and Peru. Leases 4 X miles
of track between Warsaw and Winona Lake.
OFFICERS.—Gen. M gr., J. O. Schade, Warsaw: Aud.. H. O. Weimer.
— V. 1( 1, p. 1093, 1190, 1975; V. 103, p. 408; V. 107, p. 802. , . .. ,
WASHINGTON, D. C.
WASHINGTON RAILW AY & ELECTRIC.
ORGAN IZATION .— Incorporated as the Washington A Great Falls Elec
trie Ry. Co. July 29 1892 by special Act o f Congress; name changed to Wash
ington Ry. A Electric Feb. 1 1902. In 1902 acquired conttol of the Poto
mac Electric Power Co. On Feb. 4 1902 purchased the assets of the Wash
ington Traction A Electric C o., sold at foreclosure Nov. 24 1901, and re
organized according to plan in V. 73, p. 554, and acquired the Colum
bia Ry. and the Metropolitan RR. by deed In fee, subject to their mortgage
VINCENNES TRACTION CO.
debt. The last two roads constituted 57.71 miles of track
During 1912
ORGAN IZATION .— Vincennes Citizens’ 8 treet R y. purchased the Vin
merged with the Anacostla A Potomac River RR. (25.21 miles) and the
connes Trac. A Light Co. In Dec. 1909 and changed name to Vincennes Trac
Brtghtwood Ry. (12.45 miles), both of whose stocks had previously been
Co. New company issued $350,000 stock and canceled all com. & praf. of owned. In 1912 also transferred to the Potomac Elec. Power Co. the com
Vlncennee Trac. A Light Co. excopt 6 shares common representing certain pany's Interest In the Great Falls Power Co. Company furnishes power
charter and franchise rights. Franchises expire 1931.
to the Wash. Balt. & Annap. Elec. Ry. and to the Washlngton-Vlrglnla Ry
STOCK AN D BONDS—
Date.
Interest. Outstanding. Maturity. Franchise perpetual
S t o c k . . ...................... .......................
Q-J
$350,000
See text
In 1916 acquired control of Wasbington-Interurban Ry. (8 X m.) through
VIn T & L ref mtge $600,000/ 1906
5 g M -N
36,000 July 1 1923 purchase of Its outstand. securities by the Washington A Rockville Ry. Co.
($1,000) gold...................c* lint, at Mercantile T r.O o ., St. Louis, trustee
On Jan. 16 1915 the stockholders of the Wash. R y . A Elec. Go. and the
Vin Citizens’ St Ry 1st mtgel 1903
6 J-J
200.000 Jan 1 1923 Potomac Elec. Power Co. each authorized an Issue of $1.000.000 gen Impt.
$200,000 gold ($500)— c*(Int. at Columbia Trust C o., N. Y ., trustee
6 % debenture bonds on accounts of exts., add’ns and Impts.
On Mar. 23
Bonds.— Of the refunding bonds $200,000 are reserved to retire Vincennes 1915 the P. U. Comm, approved the issue of only $353,000 debentures out
Citizens’ Street Ry. Issue and $350,000 for Improvements; $16,000 are In of $694,000 asked for by the rv. co. and an appeal from the refusal of the
treasury of company. Subject to call at 102 >4. No sinking fund.
Comm, to auth. tho remaining $341,000 bonds has been taken to the District
Dividends.— Initial dlv.— H % — paid Oct. 1910 and same amount quar. Supreme Court. (On Apr. 23 1915 tho P. U. Comm. auth. $13,500 addi
to and lncl. July 1 1911. In Oct. 1911 dlv. Increased and paid 14%. In tional bonds.) In May 1917 the P. U. Comm. auth. the POtomac Elec.
1912. Jan..
April, )4 % :Ju Iy, M % . In 1913, Oct.. J4%. In 1914
Pow. Co. to issue $1,127,000 Gen. Impt. 6 % Deb. bonds, of which $750,000
Jan., 1 4 % : April, h % . No later Information.
were sold forthwith. V. 104, p. 2122.
EARNINGS.—.For cal. year 1913. gross. $69,579: net. $20,639: interest
Favorable Rote Decision.— See 1914 annual report In V 100, p. 1251.
$11,750; balance, $8,889. No later statement has been received.
In Aug. 1918 the Potomac Electric Power Co. issued $2,100,000 sea.
ROAD.— Operates about 10 miles in city of Vincennes. 56, 70-lb. T rail
mtge. 6 % bonds to finance the cost of a 15,000 k.w.turbo-generator and of
Standard gauge. Various extensions havo boon proposed.
other Improvements and extensions. V. 107, n. 701.
OFFICERS. —Pres., S. A. Culbertson; V.-P. A M gr.. 8 . S. Bush; Sec.
Fares .— On Sept. 14 1918 applied to the P. U. Comm, of tho District of
M . T . Caldwell— V. 8 8 . p. 1004.
Columbia for auth. to abolish tho 6 -for-a-quarter tickets and establish a
straight 5-cent fare. Compare V. 107, p. 803.
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Q-M
Common $6,500,000 ( $ 1 0 0 ) ..____
$6,500,000 Jan. 18 I X
MESABA R A IL WA Y CO.
Pref 5% $8,500,000 ($100)...............
Q-M
8.500,000
Sept'18, I X
ORGANIZATION.— Incorp. June 27 1914 In Mass, as a reorganization Consol mortgage $17,500,000 1902
4 g J-D
.
11,642,360 Dec 1 1951
of the Mesaba Electric Ry. Co. of Maine and the Mesaba Ry. Co. of Minn
($1,000 A $500) gold. .c * tf Int. at U. S. M tg. A Tr. Co., N. Y ., trustee.
It acquired all the property of those two companies, assumed their obliga Met RR 1st mtge ($1,850, 1895
5 g F-A
1.850.000 Feb 1 1925
tions and now operates the passenger and freight electric road on the Mesaba
0 0 0 ) gold ($ 1 ,0 0 0 ) not sub Interest at Baltimore Trust A Guarantee Co.
Iron Range, Minn., connecting the towns of Ribbing, Chisholm, Buhl,
ject to call.....................c*tf
trustee, Baltimore.
Mountain Iron, Virginia, Evelotn, and Gilbert, a distance of about 35 miles. Anacostla A Potomac River 1899
5 g A-O
2,979,000 Apr 1 1949
Road Is on private right of way except In towns, with steam road construc
first mtge $3,000,000 gold Int. at Baltimore Tr. A Guar. C o., trustee.
tion. Placed In operation March 1 1913.
($ 1 ,0 0 0 ) sinking rund.c*tf( May be called at 112Hi.
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity
Stock and Bonds.— The preferred stock became cumulative on June 1 1904;
...............
Common $2,500,000 ($100).......................................$1,575,000
The remainder of the consol, bonds ($5,857,650) are reserved for the retire
Pf $1,250,000 ($100) 7% (c u m )...........................
685.000
...............
ment of underlying Hens. Entire Issue Is subject to call upon 3 months’
Mesaba Ry 1st M $2,500,000/ 1912
5 g M-S
1,195.000 Mar 1 1932 notice on any Interest date at 105 A Interest.
gold ($1.000) sink fd__c*tf(Int. at Amor. Trust Co., Boston, trustee.
A portion of the property covered by the Met. R R . 1st mtge. may be
Bonds.— $65,000 In sinking fund. Remaining bonds are reserved for sold and proceeds applied to a sinking fund for the retirement of the bonds
future additions, Impts., Ac. Subject to call as a whole or In part for at not exceeding 110 and Int. Bonds cannot be drawn. Of the Anac. A
sinking fund at 105 and Int. Sinking fund. 2 X % o f total bonds certified,
Potomac River bonds. $462,000 are guar., p. A I., by Washington R y. A
began Jan. 1 1917.
Elec. V. 87. p. 36. $21.000 have been canceled.
EARNINGS.— For years ending Dec. 31:
Dividends.— On pref. at rate of 5% per annum since Dec. 1 1904 to and
Year—
Cross. Net (aft. Tax.). Interest. Maint. Res. Surplus.
..
1910.
In
1917...................... $287,925
$120,343
$58,190
$20,791
$41,362 lncl. June 1918. On comIn 1st dlv., was paid Doc. 1 1909; in Sept.. 2% : % ;
1913. March, 1%; June, 1 4 %;
14
1916 -------249,104
131,537
57,388
16,693
57,456 1911, 2% ; In 1912, 4%;
Dec., 1
% extra. In 1914
1916„.
- - - - - - - 201,036
87,071
57,181
9,334
20.556 1917, 6 14%. and 11918, March, 1 4 % ;and since4to and lncl. 1916, 7 % . In
4 %
In
June, 1 % ; Sept. 1 4 %.
OI'M C E R S.— Pros.. Oscar Mitchell; V .-P., R. W. Watson; Sec., A. S.
___ __
_
Potom ac E lectric Power Com pany.
Whiting; Treas., p, L. Saltonstall; Asst. Treas’s, L. E. Flint and J. O.
BONDS—
Date.
Interest. Outstanding.
Maturity.
Bergeson: Clerk, Lester E. Flint; Asst. Sec., Iiobt. Haydock; Gen. M gr.,
L. w . Hayes.— V. 99, p. 120.
First mortgage (soe text) gold/ 1904
5 g J-D
$1.700.000 June 1 1929
($1,000).................. — c.tf lint, at Comm. Tr. Co., Jersey City, trustee.
Cons mtge $7,000,000 gold! 1906
5 g J-J
5.300.000 July 1 1938
($1,000) gu p A 1 by Wash/Int. at Commercial Trust C o., Jersey City..
Ry A Electric Go . . . . c t f i
trustee.
WORCESTER & WARREN STREET R AI L W A Y.
6 g J-J
2.100.000 July 11928
Operations Suspended.— On Jan. 16 1918 the co. suspended operations. Gen mtge $5,000,000 ($100.1 1918
$500, $1,000) gold---------tf/Guaranty Trust Co., New York, trustee.
In Sept. 1918 wo were officially informed that the road was being dismantled
Oen'l impt. debentures.......... 1915
6 F-A 1
750.000 Feb 1 1925
and sold for Junk.
Bonds.— The first mtge. bonds are red. any Int. date at 110 A Int. Auth
Issue was originally $4,000,000. but was subsequently reduced to $1.700.000.
Of the $7,000,000 new consols. $1,700,000 are reserved for prior Hens.
WAR REN & JAM ESTO W N STREET R A IL W A Y CO.
They are guar., prln. and Int.. by Washington Ry. A Electric Co. A
O R O A M //A 1 ION.— Incorporated In Now York and Pennsylvania and sinking fund of 2% per annum of bon<ls outstanding began Jan 1 I90K.
consolidated Jan. 16 1904. Private right of way, excopt In Jamestown, As of Aug. 12 1918, $418,000 were held alive in sinking fund. Soe V. 8 S.
where companv has a 50-year franchise and 3 or 4 mllos of public right of p. 100. The $1,000 gen. mtge. bonds are registerable as to principal. Of
wav. for which perpetual franchises are held.
tho escrow bonds $900,000 may be issued on or before Jan. 1 1920 For not
In 1918 Issued $100,000 10-ycar 6 % 1
wnds to retire a like amount of 2d exceeding the cash cost of extens., add'ns and better'ts. thereafter bonds
mtge. bonds which fell duo on Jan. 1 1918.
may bo Issued for only 75% o f the cash cost of same. The mtge. provides
—
Date.
Interest. Outstanding. Maturity. for a maintenance .and depreciation fund of 16% of the co’s annual gross
Stock $2 0 0 ,0 0 0 ($100)..........................................
$200,000
See text operating revenue beginning in 1918. Red. all or in part at any time on
First mortgage $300.000------1 1904
5 J-J
300,000 July 1 1934 8 weeks’ notice at 101 and int. Interest is payable In N. Y. or Washington,
D. G. V. 107, p. 701 • The Gen. Impt. debentures are guar., p. A i., by
,, ,
,
(Interest at Warren (Pa.) Trust C o., trustee.
10-year gold bonds
1918
6%
100,000 Jan 1 1928 tho Wash. Ry. A Elec. Co., and are equally secured with the Gen. Mtge.
Dividends.— In 1908, 4% ; In 1909, 8 %; in 1910, 8 % ; In 1911, Jan., 2% ; bonds; red. at 10214 on any int. dato. Earnings of the Potomac Electric
In 1912. Dec., 2% ; In 1913, July, 4% ; In 1914. 8 %; In 1915 and 1916. 6 %; Power Co. have been as follows:
in 1 c)17» u % •
Calendar Year—
1917.
1916.
1915.
EARNINGS.— For calendar year 1917 and years ending Juno 30:
Gross rocoipts...................................... $2,639,587 $2,432,473 $2,191,392
tear—
-<'"?«•
Act. lnl.&Tax. Rentals. Dtw.(6% ) Surp. Net available for Interest..................... 1,053,998 1.114,478
1,016.793
1917 - - ---------------------------------------------$27,865
$8,095 $12,000 $4,964
Annual
outstanding
}9 5- 0 - - .............
67.650
27,727
11.376
12,000 6,547 debenture interest charges on to $500,100. bonds. Including the $750,000
bonds now amount
' A’ ' - * J ' o.8? i „ 4 8 ' 4 8 9
25.778
8,322
12.000 2.388
Property. A c.—The Washington Ry. A Elec. Co. controls the principal
R O A D .—Operate 21 H miles of track from Warren, Pa., to Jamestown. street railroads In the District of Columbia and also the Potomac Elec. Pow.
N. Y . Enters \ arren over tracks o f Warren Street Ry. Does an express Co. which alone Is operating, or authorized to operate, In the national
\
business. Standard gauge. 70-lb. rails. 6 cars
and
Falls Power Go. with undeveloped
OFFICERS — Pres A Gen. M gr., David H. Slgglns; V .-P ., Homer M . capitalpower which controls the Great railroad companies have 175 50 m.
water
on Potomac River. Tho
Preston; Sec., Treas. & Supt., S. Q. 8 m!th, all of Warren.— V. 8 6 . p. 482.
of track (all under electric traction), while too electric light company has
265 miles of subways with about 950 miles of ducts, besides many miles of
overhead wires. Owns 669 cars. No. of meters Dec. 31 1917, about. 36.000.
Generating capacity o f power co., 55,000 k. w. An additional 15,000 k. w.
WINO NA INTERURBAN RA IL WA Y CO.
unit Is being installed.
Default.— Oct. 1 1915 int. on Peru Dlv. bonds, and Jan. 1 1916 Int. on
The following shows tho total outstanding stock of the companies con
Goshen IRv. bonds defaulted. 1 ho proposed plan o f reorganization^.101, trolled and the amount of the total shares acquired in each Instance by the
Washington Ry. A Elec. Co. up to Dec. 31 1917;
MileCapital
Amount
Am't Not
Name of Company—
age.
Stock.
Otoned.
Owned.
Georgetown A Tenallytown RR 8.58
$200,000
$162,950
$37 050
Committee for Uoshen Die. Is! Mtge. 6 s.— J. I). Mortimer, Pros. North
Washington A Rockville Ry_ 14.136
_
275.000
275.000
None
American Co., N. Y Chairman; II II. Phillips, 209 So. La Salle St.. City A Suburban Railway___ 41.427
1,750.000
1,681.250
68.750
Chicago, Sec.; Central Trust Co. of Illinois, Chicago, depositary. V. 101. Washington A Glen Echo R R . . _____
200.000
197.150
2.850
p. 1976.
Washington Interurban R R ___ 8.25
50.000
50,000
ORGAN IZATION .— Entire common stock Is held by directors. Fran
chises are for 60 years. Leases the Winona & Warsaw Ry. ($10,000 stock
Total railroads........................ 72.673 $2,475,000 $2,366 350 $108,650
and $44,000 bonds), operating 4 n miles or track, for 99 years from Jan. 1
Capital
Amount
Am't Not
Name of Companv—
Slock.
Owned.
Owned.
Fares— In Aug. 1918 the receiver applied to tho Indiana P. S. Comm,
Lighting—
,
for auth. to increase fares on the Winona & Warsaw R y. from 5 to 6 cents.
Potomac Electric Power____________
$6,000,000 $6,000,000
None
V. 107. l). 802.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Total all companies........................... $8,475,000 $ 8 366.350 $108,650
Common $600,000 ($100).....................................
Soe text __________
The Washington Ry. A Electric owns tho following bonds ol mo constitu
Prof $600,000 6 % cumulative...............................
$150,775 ..................
ent companies, which, together with the shares of stock owned above, are
_______ _ 1 1925 pledged under the $17,500,000 consol, mtge.; $100,000 fentire issues) 1st A
Goshen Dlv 1st M $760,000/ 1905
5 g J-J
750,000 July ______
gold ($ 5 0 0 and $ 1 ,000)----- lin t, at First Trust & Sav. Bank. Ohio..trust.
2d mtgos. of the Georgetown A Tenallytown Ry.; $180,000 out of a total
Peru Division first mortgage/ 1906
A-O
1,593,700
Oct 1936
Issue of $185,000 1st mtge. bonds of the Wash. A Rockville Ry. (remaining
$2 ,0 0 0 ,0 0 0 g o ld ................. (Union Trust C o.. Indianapolis. Ind.. trustee.
$5,000 being owned by the Wash. Ry. Reller Association); *200.000 1st
Bonds.—Goshen Division bonds are a lien only on the section of road be mtge. and $50,000 2d mtge. (entire Issues) of the Washington A Glen Echo
tween Warsaw and Goshen. Of the amount reported outstanding, $52,000 R R .; $150,000 (entire Issue) Washington Interurban R R . 1st mtge bonds.
are unsold hut used as collateral for loans. Are subject to call at 105 and Total, $680,000.
VINCENNES, IND.
VIRGINIA, MINN.
WARREN, MASS.
WARREN, PA.
WARSAW, IND.
128
[Vol . 107
ELECTRIC RAILWAYS
STOCK AND BONDS— Date.
Interest. Outstanding.
Maturity•
EARN IN G S.— On all properties fbr calendar years:
Common $2,000,000 ($100)...............
M-N
$1,378,300
See text
1917.
1916.
1915.
1914.
Pref $1,000,000 ($100) see t e x t ____
M -N
1,000,000
See text
Revenue passengers____ 66,044,230 68,545,481 66,104,431 65,817,772 Wash Alex & Mt Ver 1st M f 1905
5 g M-3
2,370,000 Mar 1 1955
Free transfers............... 19,617,337 21,489.744 20,378,525 20,200,541
$2,509,000 ($1,000) g_ c*\Int. at Real Estate Tr. Co., Philadelphia.
_
Gross earnings_________ $5,492,359 $5,539,465 $5,191,627 $5,048,435 Wash Arlington & Falls Ohurcn Ry Issues—
Expenses and taxes____*3,791,264
*3,280,486 *3.009.072 *2,863,736
1st M $100,000 gold............. 1895
6 J-J
100,000 July 1 1925
2d mtge $350,000.............../ 1903
5 A-O
250,000 April 1 1953
Net earnings................. $1,701,095 $2,258,979 $2,182,555 $2,184,699
(Interest at Merchants’ Tr. Co., Phlla., trust.
Other Income_________
37,203
27,510______ 22,328
33,891
First consol mtge $1,000,-/ 1908
5 g M-S
602.000 Sept 1 1958
Total Incom e................ $1,738,298 $2,286,489 $2,204,883 $2,218,590
000 gold ($1,000)___ c*( Int. at Girard Trust Co., Phlla., trustee.
Fixed charges_________
1,224,150
1,194,035 $1,187,997 $1,177,117
Stock.— Pref. Is entitled to cum. dlvs. of
for year endlug Nov.
Dlv. on prof, stock (5% )
425,000
425,000
425.000
425,000 4% for next year and 5% yearly thereafter.3%Stock listed In Phlla. &1 1911,
Wash.
D lv. on com. stock____(6%)422.500(7%)455.000(7%)455.000(7%)455.000
Bonds.—Of tho Wash. Alex. & M t. Ver. 1st M ., $130,000 are In treasury.
Surplus.......................adf.$333,352
$212,454
$136,886
$161,473 The bonds aro subj. to call on any int. date at 110 and int. upon 3 months’
♦Includes depreciation of equipment beginning with July 1 1914, In notice. See V. 80, p. 1176. $350,000 Wash. Arl. & F. O. 1st consols are
accordance with Inter-State Commerce Commission classification of ac reserved for prior lions, $48,000 aro in treas.; remainder are Tor betterments,
counts, effective as of that date.
&c. Bonds were guar., p. & L, by endorsement by Wash. Alex. S M t. Ver.
c
a The deficit in 1917 was due principally to a 51-days’ strike on the co. s Ry. Subjoct to call on any Int. date at 105 and int. on a mos.’ notice.
lines during March and April 1917 and to tho increase in operating costs.
Int. on the Wash. Arl. & Falls Cnurcn Ry. 1st M . bonds, payable In Phlla.
OFFICERS.— Pros., Wm. F. Ham; Treas.. A. M . Fisher; Sec., S. R. Walter Illnchman, N. Y ., Is trustee.
Bowen. General offices, 14th and O Sts., N. W ., Washington.— V . 106, p.
Dividends.— Initial div. on pref.— I K % — paid Mar. 15 1911; Nov.
1462, 2012; V. 107, p. 83. 698, 803.
I W %. In 1912, 4% .
In 1913, and since 5% .
On common, first
(1) City & Suburban R ailw ay.— Underground electric and overhoad d lv.— 1% — paid March 15 1911; N ov., 1K % - In 1912 and 1913, 3% .
In 1914, May, I K % - In Nov. rate was reduced and 1% was paid. In
trolley. Bonds, 1st M . 5% gold, $1,750,000. Denom. $1,000. coupon
Date, Aug. 1 1898; Interest payable Fob. and Aug. at Baltimore Trust & 1916, May, 1%. No later information.
EARN ING S.— For 12 mos. end. June 30 1913, gross, $540,950; net,
Guarantee Co., trustee. Maturity Aug. I 1948. Tho bonds have a s. f. oi
$25,000 yearly from any surplus remaining after payment of 6% on th< $297,114; bond int. & taxes, S200.568; surplus, $96,546. No later state
stock, but tho bonds cannot be callod. in Oct. 1901 receiver was appointed
ment has been received.
_
ROAD. —Operates from Washington, D. O., to Alexandria. M t. Vernon,
On Fob. 1 1902 Intorost defaulted, but was paid later in the month by the
trustee. V. 74, p. 428. Receiver was discharged on Sept. 22 1905. On Arlington, Ft. Meyer, Rosslyn, Clarendon, Vienna and Fairfax. Total
Oct. 19 1910 acquired tho Wash. Berwyn & Laurel Elec. Ry. (9 miles) from traca. 63.34 miles. Standard gauge. 79 cars (of which 59 are passenger).
OFFICERS.— Pres., Norman Grey; Sec., Gardner L. Boothe, Wash.;
the Wash. Balt. & Annap. Elec. R R . V. 91, p. 947.
Treas., J. O. Freeland: Gen. M gr., R. W. King.— V. 100, p. 1439; V. 105.
p. 1899; V. 106, p. 819; V. 107, p . 803.
WASHINGTON & MARYLAND R Y.
ORGAN IZATION .— Incorp. in Maryland as successor to Balt. & Wash.
WASHINGTON BALTIMORE & ANNAPOLIS ELECTRIC RR.— A
Transit Co. of Maryland, sold under foreclosure.
The I*. U. Comm, of tho D. of O. has auth. tho co. to issue $66,000 gen. single-phase electric road.
ORGANIZATION.— Incorp. in Maryland on June 5 1905 as Baltimore
6% 30-yr. bonds and $30,000 prior lien 6% bonds; has also approved Terminal Co. On March 31 1911 amended Its charter, changed its name
a contract by which the Capital Traction Co will operate the co’s lines. to Wash. Balt. & Annapolis Electric HR. and took over the Wash. Balt. >
&
Proceeds of the 6% bonds will bo used to complete purchase o f the
Elec. Railway,
V
»
of I)«U & Wash. Transit Ha In TVTanvlnnrl nnri t.nfl 5 K % prior lien bonds Annapolis p. 1328, 1380. sold at foreclosure (V. 92, p. 796, 957). por plan
Balt. t, Y noVi Ti'atiolh Co. in Maryland, and the S U % nrlnp
V. 91,
Privato right-of-way.
will bo used as collateral for $25,000 1-yr. 6% notes, the proceeds of which In In Juno 1912 entered Into a 10-year contract with the •
American Kxpross
will be used for ext. and impts.
. . .
„
Co., giving It the right to operate an express service over the co.'s line.
ROAD. —Operate* about 3K miles of track from 14th & Kennedy Sts
The Annapolis Public Utilities Co.
N. W., to District lino at Tacoma Park, M d. Extension o f 1 mile built and took over the Annapolis Gas &was Incorp. In May 1912 as a sub. co.
Elec. Go.,
from District line and through service operated by the Capital Traction $100,000 stock and $280,000 bonds. V. 96. p. 655.which had outstanding
Co. since May 11 1918. 60 and 100-lb. T rail; girder rail on new extension. Utilities Co. has $300,000 auth. com. stock. $172,700The Annapolis Public
issued.
Transfers passengors at 14th and Kennedy Sts. to Capital Trac. Co. One
Wage Increase.— V. 105. p. 2273.
,
faro any place in Dlst. of Col. Four cars of the Capital Traction typo.
Md. P.
co. auth.
OFFICERS.— Pres., Chas. Selden Jr., Washington, D. O.; V.-P., II. W. to Fares.— In Juno 1918 tho per mileS. Comm, rofused to grant tho excursion
increase fares to 3 cents
and to cancel all special and
Williams, Baltimore, M d.; Sec.. Martin M . Little; Treas., Norton M . rates. V. 106, p. 2759. Compare V. 106, p. 2561. The I.-S. C. Comm, also
Little. Office, 1413 H St., N. W^
denied a similar request. V. 107, p. 83.
STOCK AND BONDS—
Date. Interest.
Outstanding
Maturity.
CAPITAL TR ACTION .— An underground trolley road.
Q-J
$3,000,000 Sopt T8, 2%
ORGANIZATION.— In tho fall of 1895 absorbed the Washington & Common $3,000,000 ($50)......................
Pref $2,500,000 ($50) 6% n on -c____
0 Q-M
1,456,760 S ep t'18, IK
Georgetown and Rock Creok companies. See V. 61, p. 283, 328, 588.
5 M-S
*5.682.000 Mar 1 1941
Operating Agreement.— On Dec. 31 1914 entered into an agreement with First mortgage $7,500,000/ 1911
($ 1 ,0 0 0 )____________ c*tr Int. at Cleve. Trust Co., Cleve., or Safe Dep
the Washington & Maryland Ry. for through service, with a division of
I & Trust C o.. Baltimore, Md.
fares based In part on the relative service rendered.
x Includes $538,000 bonds in treasury.
Valuation.— In Doc. 1916 reached an agreement with tho P. U. Comm, of
Stock and Bonds.— Pref. stock is red. at 110. Bonds are subjoct to cal,
the Dlst. of C ol. fixing the reproduction value of the property as of June
_
..
30 1914 at $10,996,214. not including, however, road and equipment at 105 on any Interest date.
Dividends.— On pref., initial dlv.— 1 K % — paid Oct. 1912; Dec., 4 K % .
located outside the District o f Col., real estate in the District of Col.,
franchise, working capital. Interest and taxes during construction, and making 0% for the year. Has paid 1 K % quar. since to and Incl. Sept 1918.
Initial div.— 3% — paid on com. Oct. 31 1917. In 1918, Jan., 3% ; Apr., 2% ;
other Item* which figured in the report or the Commission’s expert as fol
lows: Land. $618,116; Insurance on land, $1,236: taxes on land, $12,362; July. 2% ; Sopt., 2% .
EARNINGS.— For years ending Dec. 31 (1917 report in V. 107, p. 2553):
interest on above items, $44,220; and working capital, $108,000. V. 103,
Calendar
Cross
Net (after
Other
Int..A c., Balance.
p 2428.
Years—
Earnings. Taxes).
Income. Charges. for Dies.
Wage Increases.— See V. 105, p. 1897; V. 107, p. 1191.
1917.......................... $1,560,125 *$718,051 $12,893 $208,293 $462,651
STUCK AND BONDS— Date.
Interest. Outstanding. Maturity
1910............................... 946,202
396,332
13.341
202,578 147.095
Stock $12,000,000 ($100).................
O-J
$12,000,000
See toxt_.
* After deducting incomo and oxcess profits taxes.
New first mortgage $6,000,-/ 1907
5 g J-D
5.606.000 Juno 1 194i
Revenue passengers carried in 1917, 3,429,966, against 2,037,139 in 1916.
000 gold ($500).................c{Int. at Union Tr. Co. of the D. o f O.. Wash.,
ROA D .— Operates 116.7278 miios of track between Baltimore. Washing
I trustee.
Btmds.— Are not subjoct to call. Part of the bonds Issued were used to ton and Annapolis, of which 13.94 miles are operated under contract. Bnredeem the $1,080,000 outstanding 4% bonds o f tho 1900 issue. $200,000 tors Washington over tracks of Wash. Ry. & Elec. Co. 80-lb. T rails.
of bonds aro in c o .’s treasury and $194,000 are In c o .’s Ins. reservo fund. Standard gauge. Automatic block system in single-track between Annapo
Dividends.— In 1898. July 1, 75c.; Oct 1, 75c.; in 1899. four dividends of lis Jet. and Annapolis. 144 cars. Power Is purchased from Potomac
75c. each; in 1900, 3H%\ In 1901. 4% ; In 1902, Jan., 1%; April, 1%; Electric Power Co. of Washington.
OFFICERS.— Pres., Geo. T. Bishop, Balt.; V.-Ps., F. II. Ginn, Clove;
July. 1%. and on Aug. 20 an extra dividend of $4 per share was paid from
proceeds of sale of old power house: Oct., l% ;l n 1903, 4 H % ;ln 1904,5%, Jas. A. Hemenway, Boonoville, Ind.; V.-P. & Gen. M gr., J. J. Doyle,
In 1905, 5 H % : 1906-1913 incl., 6% ann.; In 1914, Jan., I H % : April, I K % : Balt.; Sec., Geo. W. Williams, Balt.; Treas., Geo. A. Craig, Baltimore;
July 1 14 % • In O ct. rate was reduced and 114 % was paid; same rate quar Aud., W . II. Wright, Balt.— V. 106, p. 819, 1345, 2553, 2561, 2759;
terly since. In Dec. 1917 an extra dividend of 1M % was paid. In Aug. V. 107. p. 83.
_____
1918 an extra dlv. of K % was paid.
WASHINGTON & OLD DOMINION R Y .
,
„ „
REPORT.— For calendar years:
ORGANIZATION.— Incorp. in May 1911 In Virginia as successor to tho
Calendar
Oross
Net (after Other Int. and
DiviBalance.
Great Falls & Old Dominion R R ., operating a 15-iuile lino between Wash
Year—
Earnings. Deprec'n.) Income. Taxes
dends.
Surplus
ington, D. O.. aud Great Falls, Va. Has leased for 50 years from June 1912
1 9 17.......... $2,783,538 $1,250,209$16,202 $469,941 (6>418750,000 $46,530 and has electrified the Bluemont branch of the Southern Ry.. extending
1910 ......... 2,289,251 1,051.841 8.928 424,592 (5% ) 600,000 36,177 from Alexandria to Bluemont, Va., about 54 miles. In 1912 completed a
1915
. . . 2.206.494 ' 1,054,210 6.532 41, ,168 (5% ) 600.000 43,574 12-mllo connection between Washington and Alexandria. Total road oper
In 1917, 64,285,993 rovenuo and 19,412,983 transfer passengers were ated. about 81 miles.
............ „
„
_ _
carried, against 53,482,5-16 and 164,87,820, respectively, in 1916.
OFFICERS.— Pres., Colin II. Livingstone; V.-P. S Oon. M gr., W. B.
c
ROAD. — Underground trolley, single track Unci. 2.023 miles oporatoo Emmort; V.-P., E. B. McLean; Soc.-Troas.. A. K. Stratton; Asst. Sec., ,
under trackage agreement), 44.379 miles; overhoad trolley, 10.822 miles, Treas., M . W . Bowen. Office, Washington, D . C.— V. 95, p. 482.
single track. Total length of road (incl. 7.956 miles sidings and turnouts),
66 180 miles of single track. Operates 314 closed motor cars, 125 open
WATERLOO, IOW A.
motor cars, 93 closed trailers, 101 open trailers, 9 snow sweepers, 5 sand
cars 36 miscellaneous; total. 683 cars
80 to 104-lb rail.
WATERLOO CEDAR FALLS & NORTHERN RY.
OFFICERS.— Pres., Geo. E. Hamilton; Y.-P. In Charge o f Operation,
Federal Control.— In Sopt. 1918 it was reported that tho properties had
J. II. Hanna; V.-Pres., D. S. Oarll; Sec., II. D. Crampton: Treas.. R. D.
p. 1005.
Simms.— V. 105, p. 2183; V. 100, p. 497; 1460, 2118; V. 107, p. 180. 1191. been taken over by tho United States Rlt. Administration. V. 107,& Cedar
ORGANIZATION.— Incorporated lu Iowa in 1895 .is Waterloo
Fails Rap. Transit; name changed to abovo In 1904 by amending articles
WASHINGTON UTILITIES CO.— A holding company.
ORGAN IZATION .— Incorp. In Virginia (ah Maryland-VIrginia Ry.) of Incorporation. Line openod between Waterloo and Cellar Rapids
13
Connects
Nov 29 1911. amended Fob. 28 1912 and Nov. 7 1912, when tho name was Sept.and 1914. Mil. & St.at Cellar Rapids, la., with the Chic. & N. W.
Chic.
Paul Ry.
changed to the above. On Nov. 26 1912 merged with Washlugton-Virginia Ry.
Franchise.— Tho company accepted the franchise approved at a special
Ry . but the latter company (sde statement below) was obliged to resume a
Dec. 5
which provides
a
separate existence, owing to refusal of tho subsequently created Utilities election held on between 6 1917,8 a. in. and 5 and 7 Tor in., reduced rate of
tickets for 31
and
p.
and spocial rates
Comm of the Dlst of Columbia to allow the merged corporations to Issue 25 school children. The franchise also provides that whenever tho gross
to
securities provided for In tho merger agreement. Owns 150 shares of income for the whole line shall bo 5 ceuts per car mile in excess of cost of
Braddock Lt. & Pow. Co. stock (valued at $20,000). $300,000 (of $300,350) operation, thereafter the company shall share with tho city on all such
of Washington & Great Falls Ry. & Pow. Co. stock, and $575,100 com. and excess revenues on the basts of 90% to tho company and 10% to the city.
$282,000 pref. stock of the Washington-Virginia Ry. Co.
— V. 105, p. 2180.
STOCK. AND BONDS—
Date.
Interest. Outstanding. Maturity
STOCK AND BONDS—
Date.
Interest. Outstanding.
Maturity.
Stock ..................................................
- ............... $5,468,000
See text
Common ($100) $3,335,000.......................................$1,903,000 . . . . . . . . . .
Collateral trust notes $1,500.-/ 1917
6%
1,500.000 -----------Pref stock .51,605,OOOcurn..............
0% ’
063,500
See text
000 (81,000)_____________ (Metropolitan Trust C o., N. Y ., trustee
mtge gold $6,000,000/ 1910
5 g J-J
6,773,000 Jan 1 1940
Antes. —Are socured by pledge of $2,750,000 com. stock of the Wash- First1 ,0 0 0 )____________ c*tf(Int. at First Tr. & Sav. Bk.. Chic., trustee.
($
Ry & Elec. Co. Rod. at par and int. on any int. date on 30 days’ notice.
2nd Mtge (closed)----------------- --------------------------Dividends.— Initial dlv. of K of 1% paid July 1 1912. In 1913, 1$4%
Car trust notes------- ------------- -,--------------------- 98,760
- — -----In 1914 2%
In 1915. Jan., 1%. No later information.
Bonds.— Remaining bonds
K%
EARNINGS.— For calendar year 1913, gross, $233,152; net, after de Subject to call upon 60 days’can bo Issued at 82int. of cost of extensions.
notice at 105 aud
Annual sink, fund of
ducting Interest, &c., $132,473; dividends, $107,160; bal., sur., $25,312.
2% of bonds out Began with fiscal yoar ending Dec. 31 1912. Louis Bolsot
No later statement has been received.
„
. „ „
,
,
is also trustee. Car trust notes mature in small amounts over a period of
OFFICERS.— Pres., Norman Groy; Sec. & Treas., J. O. Frcolund.
years. V. 90. p. 850, 915: V. 93, p. 528, 591.
, „
V. 98, p. 691, 1539; V. 100, p-. 1350.
Dividends.— 6% per annum was paid on prof, stock from 1913 to 1916
W ASHINGTON-VIRGINIA R Y , CO.— Underground trolley In Wash incl.; 1917 dlv deferred (V. 106, p. 398).private right-of-way from Waverly
lngton, overhead outside.
,
, to ROAD.—Owns aud operates a line on
Cedar Rapids, 83
to Cedar
Washington Utilities Co. owns $575,100 o f the common stock and and Normal. 9 mites, miles, awith a branch from WaterlooWaterloo. Falla
aud
belt lino of 7 miles around
Also
$282,000 of tho preferred.
owns and operates under satisfactory franchises, 23 miles of railway In the
ORGAN IZATION .— Incorp. In Va. Oct. 15 1913 to tako the place of
and
total
miles.
Joint
former company of the same namo which was Incorp. In Virginia on June 22 cities of Waterloo with Cedar Falls; North track, 130.55M. A St. Has Chic.
the Chic. &
Western. O.
c
P.,
1910.
The old co. on Oct. 20 1910 merged Into the Washington Alexandria traffic agreements
I. ft Pac.
Interchange or
& Mt. Vernon Ry. (stock $1,500,000) and Was.iington Arlington & Falla Gt. West., Illinois Cent, and the O. R.business. railroads for 85-lb. I rails.
express
60, 76 and
Church Ry. (stock $500,000). Has private right-of-way; franchises in freight, passenger, mall and express and 148 freight cars, 7 electric engines,
69 passenger, 4 baggage aud
cities perpetual.
and n ■ . ssary work cars, snow plows, sweepers. &c.
The old company was merged on Nov. 29 Into the Wash. Utilities Co
EARNINGS.— Calendar Years—
1917.
I9l6.
but was subsequently obliged to resume separate existence. See Wash
Qn)>-,
_ ________
$828,524
$819,478
$730,387
Utilities Co. above and V. 9o, p. 691.
,,
„
284,323
397.220
387,080
In Aug. 1918 applied to tho Capital Issues Commltteo at Washington for Net (after taV esj:................................
OFFICERS.— Pres.,
F.
auth. to issuo and sell $420,000 short-terin equip, trust notes to provido 50 W. U. Burk; Sec., F. E.L. S. Cass; V.-P., J. O. Cass; Treas. and Auditor,
Farwell; Gon. M gr.,
D. Cass.— V. 107, p. 1005
now cars for an extension to Camp Humphries, Va. V. 107, p. 803.
\
Se p t ., 1918.]
ELECTRIC RAILWAYS
129
ROAD.— Owns and operates 57.5 miles single-track equlv.; standard
W A T E R V IL L E , M A IN E .
gauge; 70, 80 and 85-lb. rail. Also operates under contract 5.3 miles In
WATERVILLE FAIRFIELD & OAKLAND RY.
Wichita and Hutchinson. Power Is purchased from the Kansas Gas A
ORGANIZATION.— Incorp. In Maine In 1902 m tne Watervllle A Oak Electric Co.
land St. R y., but In 1911 Increased Its stock from $100,000 to $500,000
OFFICERS.— Pres.. George Thels Jr.. Wichita.— V. 104, p. 1144.
($100) and changed name to present title. V. 93, p. 1602. The $400,000
additional stock was turned over to the Central Maine Pow. Co. to pay that
W IL K E S -B A R R E , P A .
company for having retired outstanding bonds o f the Watervllle & Oakland
8 t. Ry. and for procuring the conveyance o f the street railway property
WII KF 8 -R A P P F P A II WA VS CO
formerly belonging to tne Watervllle & Fairfield Ry. & L. Co. The Cen
ORGANIZATION.— c o r p . Nov. 26* 1909. Auth. stock, $1,500,000: Is
in
tral Maine Power Co. assumes and agrees to pay all liens, claims and In sued, $900,000. Leases Wilkes-Barre A W yom. Val. Tr. Co. for 800 yrs.
cumbrances o f every kind attaching to the property formerly owned by the from Jan. 1 1910 at rental of $360,000 the 1st yr.. Increasing $10,000 every
Watervllle A Fairfield R y. A Light C o., so that the Watervllle Fairfield A two years until the maximum of $400,000 Is reached, and all obligations
Oakland Ry. now owns both railroads, which connect at \ atervllle. In the way of Int.. taxes, A c., of W .-B. A W. V. Trac. Operates about
V
V. 93. p. 1790. Waterv. Fairfield A Oakland Ry. has no bonds.
113 miles of track.
EARNINGS.— For year end. June 30 1918, gross, $99,147; net, after
Strike Settled.— The strike begun on Oct. 14 1915 and accompanied by a
taxes, §3,186; In 1916-17, gross, S96.236; net, after taxes, $12,106.
pretty complete boycott o f the company’s service, ended Dec. 15 1916 in a
ROAD.— Extends from Fairfield through Watervllle to Oakland, 11.19 compromise. See V . 103, p. 2343.
miles. Standard gauge. 58 to 90-lb. T and girder rail. 17 pass, and 2
EARNING S.— For cal. year 1914, gross $1,472,994; oper. exp., taxes
work cars. 2 snow-plows.
„ „ „„ „
„
_
and rentals, $1,417,864: net Income, $55,130; dlvs. $45,000; surplus, $10,
OFFICERS.— Pros., Harvey D. Eaton: V .-P .. Walter s. Wyman: Sec., 130. In 1913. gross, $1,480,305: oper. exp., taxes A rentals, $1,416,315;
Geo. D . Ilegarty; Trcas., Walter S. Wyman; Gen. M gr., N. It. Longfellow; net Income, $63,990; dlvs., $54,000; surplus, $9,990. No later statement
Aud., H. K. Jennings.— Y. 93, p. 1602, 1790.
published on account of prolonged strike.
__
OFFICERS.— Pres., Abram Nesbitt: V.-P. and Gen. Mgr., T. A. Wright.
Sec. A Treas., C. W . Laycock.— V. 92, p. 957; V. 103, p. 2343; V. 107.
W A U S A U , W IS C O N S IN .
p. 1 1 0 2 .
(1)
W ilkes-Barre & W yom ing Valley T ra ction .— The United Power A
WISCONSIN VALLEY ELECTRIC CO.
ORGAN IZATION .— Incorp. Aug. 28 1906 in Wisconsin, as the Wausau Trans, owns 49.992 out o f tho 50,000 shares of stock.
Lease.— Is loasod to the Wilkes-Barre R y. Co. (see above). V. 89, p.1598.
Street R R . In Doc. 1915 name was changed as above and stock wa3 in
ORGANIZATION.— Incorporated Feb. 9 1891; controls street railway
creased from $400,000 to $800,000. At the samo time purchased tha
Merrill R y. & Power Co. and tho Lindauor Pulp A Paper Co s. plant at linos In the Wyoming Valley, Pa., extending from Wilkes-Barre to Duryea
Merrill. In N ov. 1916 purchased tho property o f tho Stevens Point Light and Nantlcoke on east side of Susquehanna River and Pittston and Ply
mouth on west side. In Dec. 1902 made collateral trust mtge. for $250,000
ing Co. and Stovens Point Power Co.
Furnishes electric-light aud power in Wausau. Stovens Point, Merrill and to purchase stock of the Wilkes-Barre Dallas A Harvey's Lake Ry. Co. and
contiguous territory, and owns and operates an tnterurban street railway for other purposes. On July l 1904 leasod tho Plymouth A Larksville Street
o f 9 Id miles of track botweon Wausau and Rothschild; also a street railway Ry. for 999 years at 6 % on $75,000 stk. and Int. on $75,000 5% bonds.
at Morrill and a gas plant at Stevens Point- Franchises extend to 1940.
Default.— Tho S35.000 10-yr. 5% bonds of tho Wilkes-Barre A West
STOCK AN D BONDS.— Date. Interest. Outstanding.
Maturity. Side Ry. which fell due on Sept. 2 1918 were not paid o ff at maturity. The
co. has 3 months in which to make payment and avoid foreclosure. V . 107,
Common stock, $800,000------- - - - -----$800,000
-----------p. 1 1 0 2 .
First A Ref M . $15,000,000/ 1917 5 M -N
925,000 M ay 1 1942
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
($100, $500 A $l,000)c*_ lint, at First Nat. B k.t M ilw., or Wisconsin
_
1 Val. Tr. C o., Wausau, Trustee.
,
Stock (par $100) $5.000.000—all but 8 shares owned by Un. P. A T . Co.
1st mtge $1,500,000 gold/ 1891 5 g A-O
$1,500,000 April 1 1921
Bonds on Merrill and Stovens
($1,000)____________ ._c* (interest at Provident Life A Tr. C o., Phila.
Point properties (closed
------- 412,500
-----------Collateral trust and mortgage/ 1895 5 g J-J—
263,000 Jan. 1 1926
mortgages)--------- -------------- --Bonds.— $244,000 are reserved to rotlro underlying bonds. Additional
$325,000 gold___________ (int. at Anthracite Sav Bk., Wllkesbarre, Tr.
bonds may be issued for 80% o f cost o f impts., when not earnings are twice Collateral trust and mtge g / 1902 5 KJ-D
250.000 Dec 15 1922
($1,000) $250.000______c*| Int.at Real Est..Title,Ins.ATr.Co.,Phila.Tr.
lntorost charges, including bonds to bo issued. 1 2 >$% o f gross earnings
Is to apply to maintenance, any part not so used to bo added to sinking fund,
Underlying Bonds on Roads Purchased—
5 %
40,000 July 1 1928
which amounts to 1 % annually o f bonds outstanding. tRcd. at 1 0 2 and int. Wllkesbarre A Suburban b o n d s____
Wllkesbarre A W. Side bonds...........
6 %
35,000 Sept 1 1918
on anv Int. date.
, ,
__„ „ „ „
E A R N I N G S .— For fiscal year ending Juno 30 1918, gross, $453,732;
Guaranteed Bonds—
not, $260,321; doprec., $50,000; int., taxes, skg. fd., A c., $109,129; divi Pitt St Oar 1st M ($1,000) g / 1893
6 g J-D
69,000 Dec 1 1918
dends, $60,000; balance, surplus, $41,192. In 1916-17, gross, $368,357; not
p A 1 unconditionally g u .c*(ln t. atReal Estate Tr. Co., Phila., Trus.
(after taxes), $202,366.
Plymouth Br Co 1st gold M i 1894
5 g A-O
100.000 Oct 1 1924
$150,000 guar prln Sc Int_(int.at Anthracite Sav. Bk., Trustee, Wllkes
PROPE R T Y .— Owns hydro-electric generating plants at Wausau, Morrill
barre $10,000 subject to call In 1904 and $3,000 yearly thereafter.
and Stovens Point, and auxiliary steam generating plants at Wausau
5 F-A
90,000 Aug 1 1928
and Stovens Point; 11.08 m. track; 16 pass, and 2 other cars, 1 snow plow. Wilkes-Barre A Kingston_________
OFFICERS.— Pres., O. C. Yawkey; V .-P., B. F. Wilson; Sec. A Trcas. Wilkes-Barre A East Side R y . ____
5
150.000 See(1)below
Bonds.— Interest on the Wilkes-Barre A Kingston bond* reduced to 6 % In
M . O. Ewing.— V. 102, p. 6 8 ; V. 104, p. 2013, 2553.
Aug. 1903 and bonds extended to Aug. 1 1918 and again to Aug. 1 1928 at
5 % . Int. on the Wilkes-Barre A Suburban bonds reduced In 1903 to 4%
and bonds extended to July 1 1918. Have again been extended tbis time
W E B B C IT Y , MO.
to July 1 1928 at 5% . The Wilkes-Barre A Wyoming Valley coll. tr. bonds
of 1902 are subject to call after 10 years at 105 and accrued interest.
SOUTHWEST MISSOURI RAILROAD CO.
COMPANIES CONTROLLED IN SYSTEM .— Tho following table
ORGANIZATION.— Organized under the general railroad laws of Mis shows tne several companies operated, their mileage, capital stock, and the
aourl, and on Sept. 1 1906 acquired the Southwest Missouri Electric Ry
amount of It owned by the Traction Company, their debt, and finally tne
and tho Webb City Northern Electric RR.
In Feb. 1918 it was reported that tho company had taken over tho 14- rental payable under 999-year lease; 6 % here meaning 6 % on the outstand
ing
mllo lino of tho Oklahoma Kansas A Missouri R R . and would electrify it. onlycapital stock; and $ 1 meaning a nominal rental, tho company having
a nominal existence.
V. 106, p. 716.
------- Stock------STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
Issued. Owned.
Debt. Rental.
Name of Company.
Stock $5,000,000....................- . . . .
------$3,500,009 Sewearns. ’ Coalville Passenger Railway— . Miles. $62,400 $36,300
None
5.67
0%
General and refunding mort-( 1906
5 K M-S
1,027,000 Sept 1 1931 Nantlcoke Street Railway------- .9.68
6 ,0 0 0
None
9.68
6 ,0 0 0
$1
gage $5,000,000 gold ($1,-Unt. at Harrisburg (Pa.) Trust C o,, Trustee.
2 .0 0
13,500
13.500
$85,000
Pittston A Avoca St. R y ------- - . 2.00
$1
OOO)___________________ tfl or National Bank o f Commerce, N. Y.
None
42,000
$1
1.95
42,000
Webb City Northern intgef 1905
5 g M -3
200,000
Sept 1923 PIttst. Mooslc A P. V. St. R y ? .. 8.82
.
69,000
$1
$2 0 0 ,0 0 0 gold.......... . . c . tf* int. at Safe Dep. A Tr. C o., Pitts.. Trustee. Pittston Street Car_____________8.82 2 0 0 ,0 0 0 2 0 0 ,0 0 0
-----------..
3.45
75,000
76,000
8%
Soutnwest Missouri Electric 1903
6 g M-S
1,150,000 Sept 1 1923 Plymouth A Larksville R y ------- 3.45
6 .0
1 2 ,0 0 0
1 2 ,0 0 0
None
SI
Ry refunding and exten Harrisburg Trust C o., Harrisb., Pa., Trustee Plymouth Street Railway--------- 6.00 0
30.000
30,000
None
$1
sion mtge $1,500,000— tf Int. payable at Nat. Bk. o f Commerce. N. Y West Pittston A W yo. St. C a r .. 2.25
_____________
5.00 150,000 150,000 *150,000
$1
Bonds.— Of the $5,000,000 now bonds, $1,350,000 are reserved for prior 1 Wilkes-Barre A East Side------- 5.00
99.700
90,000
WUkesb. A Klngst. Pass. R y . . . 6.60 1 0 0 ,0 0 0
6%
Hens and $2,623,000 for improvements and extensions.
,
24,000
217,000
Wllkesb. A Plains. R y _________ 4.00
24,000
$1
EARNINGS.— For years ending Aug. 31;
1 0 .0 0
93,500
*40,000
— 10.00 1 0 0 ,0 0
6%
Aug. 31
Gross Net (after Interest Renewals
Balance. Wllkesb. A Suburban St. R yL_.13.01 2 0 0 ,0 0 0 193,750
150,000
0
(a)
Wllkesb. Dallas A Harvey’s
.13.01
Years— Earnings. Taxes). Charges. & Belt's. Dividends.
Surplus
*35.000
92,450
Wilkes-Barre A West Side------- 9.63 1 0 0 ,0 0 0
8%
1916-17___ $747,820 $333,861 $114,536 $69,462 (2%) $70,000 $79,863 Plymouth Bridge C o__________ .9.63
75.000
75.000
1 0 0 .0 0 0
_____
___
.
____
1915-16___ 811,562 443,845
112,500 30,217 (5%) 175,000 126,128
1 Knttro stock and bonds deposited under collateral trust of 1895.
1914-15___ 584,129 285,892 112,500 27,568 ____________
(4%) 140,000
5,824
* Entire amounts owned by the W . A W. Valley Trac.
ROAD.— Operatos 77 miles o f track connecting Carthago, Oartervlllo,
a DIvIdonds In this case are dependent upon earnings.— V. 107, p. 1102.
Webb City, Prosperity. Porto Rico, Duenweg-Oronogo, Nock City, Purcell.
(a)
W ilkes-Barre Dallas & Harvey’s Lake R y.— The Wilkes-Barre &
Alba, Joplin, Villa Heights and Chitwood, all In Missouri, and Galena In
Kansas. An oxtonslon to Baxter Springs, Kan.. 9 miles, under construc Wyoming Valley Traction Co. owns all tne stock.
ORGANIZATION.— A reorganization In 1898, per plan In V. 6 6 , p. 1190.
tion: was expected to bo complotcd Feb. 15 1918.
OFFICERS.— Pres., A. II. Rogers Webb City, M o.; V .-P., E. Z. Wall- o f tho Wllkesbarre A Northern R R .. sold by Sheriff In Sept. 1898. Road,
over, Harrisburg, Pa.; See., Geo. W . Roily; Trcas., W. E. McMechan. partly constructed, was completed and electrically equipped by now com
pany from Luzorno, Pa., there connecting with W'ikes-Barre sc
— V. 93, p. 752; V. 106, p. 716.______
Valley Traction to Harvey’s Lake, Pa.. 14.68 miles
STOCK AND BONDS—
Date.
Interest
Outstanding. Maturity.
Stock $200,000 ($50)________— All stock ow n»i by W.-B. A W . Val. Trac.
W EST CH ESTER, PA.
1st mortgage $150,000 g old / 1898
5g
$150,000 Sept 15 1928
THE WEST CHESTER STREET RAILW AY CO.
.to Sav. Bk., Wllkesb.. Trus.
($500)_________________ c*1Int. at Antb
ORGANIZATION.— Incorporated In Ponasylvanla Aug. 4 1890. Owns
__
___________
tho Chester Valley Electric Light, Heat A Power Co. aud the Ooatesvillo — V. 69. p. 133.
Electric Light. Heat A Power Co. Franchises perpetual.
Fares.— In Juno 1918 applied to tho P. S. Comm, for auth. to Increaso
W I L M I N G I d N, N . C .
fares between Coatosvlllo and adjacent points from 5 cents to 6 cents.
TIDEWATER POWER CO.
ORGAN IZATION .— Chartered Feb. 1907 In North Carolina and has
STOCK AND BONDS—
Date.
Interest.
Outstanding.
Maturity.
acquired through construction and purchase all the property used In fur
Stock $1,000,000 ($50) — - - - 7 — — - - - - - 51,000,000 ..................
nishing electric light and power, gas and street railway service In Wil
First mtg $ 1 ,6 0 0 ,0 0 0 ($1,000)/ 1902 5 g F-A
1.000.000 Aug 1 1932
gold __
_ c*tf\Int. at West End Trust C o., Phila., Trustee. mington, N. O.. and vicinity. In April 1917 acquired all the property of
_
tho Consolidated Rys., Light A Power C o., formerly controlled by stock
Bonds.— No'slnklng fund ami bonds not subject to call.
Earnings—
Gross.
n Net. Int.&Taz. Deprec. Surplus. ownership and leased. Population of territory served, 36,000. Has a
Calendar year 1917............. $191,550
$74,735 $56,859 $13,840 $4,036 10-yoar contract from 1916 with the city for street lighting. Franchises, In
Last half 1916____________
93,872
48,511 28,215
7,132 13,164 opinion of counsel, are without time limit and the railway franchise la
Year ending Juno 30 1916-- 161,042
82,132 56,001
13,474 12,657 exclusive until 1937.
Fare Increase.— In July 1918 was auth. by the N . C. Corp. Comm, to
UOAL).— In operation from Lenape, throuKh West Chester, to Downlngton and GallaghervIIio, 18 m.: gauge, o ft. 2>i In.; rails, 70-lb. T; 20 cars. Ex Increase fares In Wilmington and suburbs from 5 cents to 7 cents. Tickets
tension Lonape to Kenneth Square was completed Oct. 1 1904. An extension will bo sold at tho rate of 4 for 25 cents and 17 for $1. Auth. to charge
from Gallagherville to Coatesvllle completed Nov. 5 ’00. Total track, 30 m. $1 75 per 1,000 cu. ft. of gas in the city and $2 In W rightsville Beach was
OFFICEUS.— Pres. , Geo. D. Woods de; V.-P., Meyer Schamborg; Sec., also granted. V. 107, p. 83.
In Sopt. 1918 it was stated that the co. proposed expending $340,000,
Jonas Iiice; Treas., M . G. Woodsido. all o f Phila.— V. 84, p. 340, 392.
to bo financed by tho War Industries Board, for improving its transporta
tion facilities between Wilmington and tho shipyards and to furnish tho
yards additional power. V. 107. p. 1194.
W IC H IT A , K A N S A S .
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
ARKANSAS VALLEY INTERURBAN RAILW AY.
$600,000 A pr.’ IS, 3H %
Common $600,000__________ _____
A-O
ORGAN IZATION .— Incorp. In Kansas In 1909 and owns and operates Pref$600,000 5% cum (see t e x t )------ See text
595,900 M o’tnly,
an interurban electric railroad from Wichita to Newton and Hutcnlnson, Consol Rys, L A P Co 1 st M g / 1902
476,600
July 1 1932
5 g J-J
Kan. Has long-term franchises In corp. limits, most Important extending
(closed) ($50, $100, $500,} Interest at Safe Deposit A Trust Oo..
.
beyond 2 0 0 0 ; rest on private right-of-way.
$1.000)_________________c ( Baltimore, M d., Trustee.
6 g J-J
839,000 Jan 1 1949
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. First mortgage $2,000,000 1909
($1,000) gold__________ c* Int. at Penn. Co. for Ins. on L ., A c., Phila.,
Common stock $2,100,000_________
________ $1,500,000
trustee.
488,800 ...................
Pref 6 % cum $1,500,000........................................
6 g F-A
350,000 Aug 1 1920
900,000 Doc 1 1936 General mortgage $500,000 g 1917
First mtge $3,000,000 goldl 1916
5 g J-D „
($1,000)_____________ c * tf(ln t. at Guaranty Trust C o., N. Y ., Trustee.
($1,00 , $500. $100) c*cpt|Int. payable In N . Y . or Chicago.
Stock.— In 1912, by consent of common stockholders, pref. stock was-made
Stock.— Prof, stock Is redeemable $10,000 per ann.; $11,200 has been red.
BONDS.— $100,000 may be Issued for up to 50% o f cash cost o f Impts.. a 6 % stock after tho com. has received 7% In any year. The extra 1% .
add'ns or oxts., remaining $2,000,000 for 75% o f such cost under restric however. Is not cumulative.
Additional 1st M . bonds may be Issued at 85% of cost of new property and
tions. Callablo at 103 and Int. Dec. 1 1919 or any Int. date thereafter.
Sinking fund of 2% annually or bonds certified from Dec. 1 1919 to purchase extensions, but only when net earnings equal 50% more than Int. on ah
bonds out and Including amount to be Issued. During life of Gen. Mtge.
or call bds. at 103 A Int. Cont. A Oom’l Tr. A Sav. Bk.. Chicago, trustee
EARNINGS.— For cal. year 1917, gross, $292,000; 1916, gross. $271,107: bonds, however, only $200,000 additional 1st M . bonds may be issuedo
net, after taxes, $122,019. Annual Int. charge on $900,000 bonds, $49,500. Tho 1st M . bonds are subject to call In entirety only at four weeks' notice a
130
ELECTRIC RAILWAYS
105. Sinking fund of 1% began 1914: $16,000 have been retired. V. 89,
p. 471. The Consol. Rys.. Lt. & P. Co. bond 3 have a sink, fund of 1% of
bonds outstanding from July 1 1904 to 1914; 114% to 1924 and 2% there
after. Fund to be Invested in bonds at not exceeding 105 and int., but
bonds are not subj. to call. $123,400 bonds have been retired. Remain
ing Gen. Mtge. bonds may bo Issued only for additional physical property,
lrnpts. and betterments when earnings available for int. on these bonds
are at least 3 times interest charges. Including bonds proposed. No prior
lien bonds exceeding $2 0 0 ,0 0 0 may be Issued and no new mortgage equal or
prior to this mortgage will be created while these bonds are outstanding and
unpaid. The Gen. M . bonds are red. at 101 and int. at any time on 60
days’ notice. Tax-free in N. Y . State. V. 105, p. 1105.
Dividends.— Prior to Jan. 1 1913 5% per annum was being paid on pref.
(16% monthly, omitting Jan. and July). On Jan. 1 1913 began paying 6 %
per annum (14% each month). On com., 1st dlv., 2 % , paid Apr. 1910;
Oct., 2% ; in 1911, 6 %: in 1912, Apr., 3% : Oct., 3% and 1% extra, and Is
now paying at the rate o f 7% per annum (3)4% somi-annually).
EARN IN G S.— Years ended—
June 30 ’ 18. June 30’ 17. Dec. 31 '16.
Gross earnings-----------------$561,634
$489,904
$470,095
Net, after oper. expenses and taxes..
$196,242
$185,118
$172,625
Bond interost (prior lie n s).............
*110,722
68,025
65,684
Balanc e .............................................
$85,519
3117.093
3106.941
* Includes doprec., &c.
P R O PE R TY.— The power station has a total capacity of 3,800 k.w.
The gas plant has a 5S5,000-cu.-ft. daily capacity, brick buildings and 2
two-lift holders of 270,000 cu. ft. capacity: 42.56 miles gas mains. Of the
29.28 miles of track in the railway system 6 8 % are double tracked. 36
passenger and 7 freight and miscell. cars. A new car house and shop were
built in 1916. Owns and leases to the Atlantic Coast Line R R . 1.5 miles of
track along the water front. Also ow n ta large amusement pavilion and
several cottages at Wrightsville Beach: controls through stock ownership
hotel at the beach, and owns a large auditorium seating 2 ,0 0 0 , together
with three large tracts of Improved real estate along the railway.
OFFICERS.— Pres., Hugh MacRae; V .-P ., M . F. H. Gouvorneur; 2d
V .-P ., H. C. McQueen; Sec. & Treas., H. W oolcott; Gen. M gr., A . B.
Shelding.— V. 105, p. 1105; V. 106, p. 925; V. 107, p. 83, 1194.
[V ol . 107.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
West Mass St Ry first mtgel 1906 5 g F-A
$200,000 Feb 1 1926
(closed) gold ($ 1 ,0 0 0 ).-.tf/In t. at Springflold S. D . S Tr. C o., Trustee.
c
Woronoco Street Ry first f 1900 5 g J-J
75,000 Jan 1 1920
mtge gold ($1.000)___ ntf/Springfield Safe Dep. & Trust C o., Trustee.
Springfield & Eastern 1st M l
1902 5 g J-J
330,000 Jan 1 1922'
(closed) g ($1,000) c*.n tf| In t. at Springfield S. D . & Tr. C o., Trustee.
Current liabilities June 30 1917_ _____ ________
_
1,172,856 ...................
Bonds.— Western Mass. St. R y. bonds are subject to call on any interest
day at 108 and int. on 60 days’ notice. Springf. & Eastern bonds are
subject to call at 105 on 60 days' notice.
D IV ID E N D S.— Tn years 1893 to July 30 1910, inclusive, 8 % per annum,
n 1910-11 to 1913-14, 7% ; in 1914-15, 614%; in 1915-16, 614%; In D ec.
1916, 1 % % . None since. V. 105, p. 1999.
R OAD.— Owns 176.71 miles (incl. 34.56 miles of 2d track) of-maln track
and 11.83 miles o f -sidings. Total. 187.50 miles.
EARNING S.— For cal. year 1916 and years end. Juno 30:
Gross
Net
Interest,
Dividends
Surplus or Total
Y ear—
Earnings. Earnings. Tax., fie.
Paid.
Deficit. S u r p l u s .
1916-..$2,401,954 $467,073 $288,010 (514)8244,372 def.$65,310 $34,272
1915-16 2,287,487 539,394 293,780 (614) 274,157 def. 28,543 23,940
1914-15 2,126,413 554,539 306,092 (614 ) 241,026 sur. 7,421 103,123
— V. 106, p. 1462, 1797, 2650; V. 107, p. 604, 803, 1194.
(2) W orcester C onsolidated S treet Ry.— Trolley.
This company, which was Incorporated In 1886 as the Citizens’ Street R y .
Co., has absorbed the following companies :
Clinton & Hudson Street R y.,
Worcester & Clinton Street R y.,
Fitchburg S Suburban Street R y.,
c
Worcester & Holden Streot R y.,
Leominster & Clinton Street R y.,
Worcester S Marlboro Street R y .,
c
Marlboro S Weetboro Street R y.,
c
Worcester S Southbridge Streot R y .,
c
Wore. Sc Blackstone Val. St. R y.,
Worcester & Suburban Street R y.
Franchises perpetual. In 1895 leasfxl for 99 years tho North End St. R y .,
of 6.13 miles, at a yearly rental of $8,000. Tho North End has $110,000
($100) capital stock and $75,000 5% 1st mtge. bonds, due Feb. 1 1915; int.
F. S A. Also leasee for 99 years from July 1 1896 both tho Worcester &
c
Shrewsbury St. R y. Co. and the Worcester Sc Shrewsbury ItR. Co.
4,190 shares 1st pref. and 33,260 shares common stock aro owned by
tho N. E. Inv. & Sec. Co.
In Aug. 1909 permission was granted to issue $922,000 bonds to retire
W O R C E STE R , M ASS.
floating debt ana $2,260,000 bonds to retire funded debt. V. 8 6 , p. 1346;
NEW ENOLAND INVESTAIENT & SECURITY CO.
V. 89, p.412. Up to Jan. 1 1918 $1,490,000 had been issued.
In Jan. 1913 the Mass. R R . Comm, approved an Issue of $500,000 1st
New Control.— The $100,000 common stock o f this company formerly
held by Sanderson & Porter was acquired by a preferred stockholders’ & ref. 4>£s. tho proceeds of $450,000 being used to acquire the powor house
committee (V. 99, p. 1215) In Oct. 1914. Holdors or about 34,000 shares of and property of tho Electric Mfg. Co. and $50,000 for the purchase of the
pref. stock subscribed $ 1 0 for every share of pref. owned In order to effect Quinsigamond Park proporty for a pleasure resort. Tho co. Is required to
establish as. r. by ann. payment of $1,949 till maturity of bds. V. 96, p. 362.
the purchase. V. 99, p. 609, 675, 1215.
On N ov. 16 1915 the Mass. P. S. Comm. auth. the issue of $1,814,000
The New England Navigation Co. owns the $13,709,000 funding gold
notes, but in pursuance o f the order o f the U. S. Department o f Justice the additional stock at par to pay for permanent Impts. already made. V.
101. P- 1887. This amount is included in tho table.
notes have to be sold by July 1 1919.
Exchange of Preferred Stock.— By vote o f the trustees on Sept. 20 1917
New Preferred Stock.— In M ay 1917 the Mass. P. S. Comm. auth. tho co.
the plan to exchange the $4,000,000 4% pref. stock (par $100) for an equal to issuo (a) 45,000 shares of 1st pref. stock (par S80) to rctiro 36,000 shares
number o f shares of 1st pref. stock o f the Worcester Consol. St. Ity. became of common stock at par ($ 1 0 0 ) , which was accordingly done, and (b) $40,000
operative. The latter has a par value o f $80 per share and is entitled to of 1st Ref. 4)4% 20-year bonds to retire $40,000 Uxbridge S Blackstone
c
$105 per share in the event o f liquidation and to cumulative divs. of $5 5% debentures due Oct. 1 1927. These bonds up to Jan. 15 1918 had
per share. Exchange o f the stock relieves the N. Y. N. H. & H. R R . of not yet been Issued.
its guaranty o f dividends thereon. V. 104, p. 2559. V. 105, p. 1618
Wages.— An increaso of 2414% was granted tho carmen effective June
As of Jan. 1 1918 38,554 shares had been exchanged.
1 1918*
ORGAN IZATION .— Is a voluntary association and was organized on
Fare increase.— Effective July 1 1918 was auth. to increase tho fare
Juno 25 1906 to take over the street railway properties in Massachusetts rate on suburban lines to 6 cents and on Aug. 1 1918 the 6 -cent faro was
formerly controlled by the Consolidated Railway Co. V. 83. p. 492.
made effective in Worcester. V. 107, p. 503. Compare V. 107, p. 403.
SECURITIES OW N ED .— The following Is a list o f stocks held by the It is understood that these rates apply only for tho duration of tho war.
V. 107, p. 803.
New England Investment & Security Co. (see V. 83, p. 1100).
Milford Attleboro & Woonsocket St. R y.— $315,000 capital stock.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Worcester Consolidated St. R y.— 4,190 shares (out o f 45,000) 1st pref. Common $3,326,000 ($ 1 0 0 ) - . - - - - .
_________ $3,326,000 .....................
stock (par $80) and all the common stock.
X
’rcf (see text) $3,000,000 ($ 8 0 ).......
................. 3,600,000
See text
Springflold Railway Cos.— 68.000 shares (entire issue) of common stock. Wore Consol St 1st S ref mtg J 1910 414 g F-A
c
1,490,000 Aug 11930
(Springfield R y. Cos. owns 46,492 out o f a total of 46,547 shares of Spring
$5,000,000 g ($1,000) c*tf (Old Colony Trust C o., Boston, Trustee.
field Street R y.)
W orcester Consolidated deb)
1907 5 M-N
1,200,000 Nov 11927
Various street railway company bonds, $214,000, and notes, $678,073.
$1,364,000 (51,000)__ ntflO ld Colony Trust C o., Boston, Trustee.
Wore Con deb g 5840.000 n tf
1900 414 g M-S
700,000 Mar 1 1920
STOCK AND BONDS—
Dale.
Interest. Outstanding.
Maturity. Worcester S Clinton first?
c
1899 5 g J-J
115,000 Jan 1 1910
C om m o n ___________________ _____
_ ______
_
$100,000 _________
mortgage gold ($1,000) n tf (American Trust C o., Boston, Trustee.
Prof. 4% ($100).................................
4 J-J
144,600 Juiy’ 18, 2% Wore S Blackstone Val 1st M \ 1906 414 K F-A
c
200.000 Aug 11926
Funding gold notes_______ t f- 1909 See text
13,709.000 Apr. 1 1924
5200,000 g ($ 1 ,0 0 0 ) -entf(Interest at office of company.
Uxbridge S Blackst first?
c
1903 5 F-A
80,000 Feb 2 1923
Stock.— Dividends o f 4% per annum on the pref. stock aro cumulative
M $80,000 (51,000)-Cntf (Int. at Old Colony Tr. C o., Boston, Trusteo.
and are guaranteed by the New York Now Haven S Hartford R R ., and
c
Uxbridge & Blackst debenf
1907 5 A-O
40,000 Oct 1 1927
also $105 per share in case of liquidation. V. 83. p. 492. See form of guar
($ 1 ,0 0 0 ) ______________ tfllnterest at office of company.
anty in V. 83, p. 1102. This stock may bo called as an entirety at any time
c
5 g J-J
160.000 July 1 1921
at 105 and accumulated dividends. Supreme Court of Errors in Connecti Marlb S Westb 1st M $160,-/ 1901
000
g($l,000)red 105 c*n tf lint, at Amer. Trust C o., Boston, Trustee.
cut sustained validity of guaranty. V. 8 8 , p. 1 0 0 2 .
1903 5 A-O
150,000 Oct 11923
Notes.— N . Y . N. II. & H. guar., p . S 1., $5,000,000 of the notes. Int. Wore & Hold 1st mtge $150.-1
c
000 g ($1,000) red at 105/Int. at Worcester Tr. C o., Worcester, Trust.
on notes for first 5 years, 3% ; for tne next 5 years 4% and for the last 5
(V. 89, p .9 9 5 )............en tfj
years, 6 % . An agreement was reached with tho New Haven Interests In
c
4 14 ft M-S
500,000 Sept 1 1922
1915 by which interest was continued at the rate of 3% per annum to April Wor S South 1st mtge (seef 1902
text) gold ($1,000)--C *ntflint, at Internat. Trust C o., Host., Trustee.
1917 and 2% since, with obligation to pay remainder if earned. Original
Worcester & South mtge (seel 1905 4 14 g J-D
200,000 June 1 1925
issue, $16,250,000. of which $2,541,000 redeemed and canceled.
text) ----------------------- nt.f(
EARN ING S.— For cal. year 1910 and years ending June 30:
Leased to Worcester Consolidated—
Divs. A
DeducNet
Interest on Preferred Balance, Webster S Dudley/Stock_________
c
_________ _
$50,000 __________
Year—
Int. Rec’d. turns.
Income.
Notes. Dividends. Surplus.
/M ortgage 1899 5 M-N
30,000 Nov 1 1919
1 9 1 6 ...............$506,147 $15,909 3490,238 $411,270 $!60.000df$81032
Leased to Webster A Dudley, oper. by Wore. Consol.—
1915-16............... 592,271
16,401
575,870 411,270
160,0004,0o0
Wore [Stock................................................................
150,000 ...................
1914-15...............584,864
27,820
557.044 376,997
160.000 20,047
& {1st M $150,000 ($1,-/ 1899 5 g J-D
150.000 Dec 11919
OFFICERS.— Pres., Francis H. Dewey, Worcester, Mass.; Vlco-Pres.
Web l 000) gold------- c * n tflln t. at International Tr. C o., Bost., trustee.
Ohas. E. Ware, Fitchburg, Mass.; Sec., F. P. McIntyre, Springfield. Mass.: Current liabilities June 30 1917 (Incl. all sub. cos.)_
870,992 ...................
Treas., Loverett Candee, Springfield, Mass.— V. 104. p. 2559; V. 106. p.
Preferred Stock.— The pref. stock is Entitled to cum. divs. of $5 por share
1689, 2757.
p. a. (J. 30 & D. 31) and $105 per share in case of liquidation. While any
matured div. on 1st pref. stock is unpaid or whilo the unfunded and current
(1) Springfield Railway Com panies.— A holding company.
ORGANIZATION.— Formed in March 1905 to hold a majority of the debt of tho co. shall exceed 25% of the entire capital stock, 1st pref. share
holders may
not
stock o f the Springfield Street R y. Is managed by a board o f trustees be increased elect a majority of the directors. The 1st pref. stock maycon
without consent of 2-3 of its holders except that In case of
consisting of seven members. V. 80, p. 1363.
solidation with Springfield St. Ry. $2,750,000 may bo issued without such
STOCK—
Interest.
Outstanding.
Last Die
consent. V. 104, p. 2344.
Comm on---------------------- All owned by New Eng. Inv. S Secur. Co.—
c
Bonds.— Wore. Consol. R y. 1st S Ref. bonds are sub. to call on any int.
c
Pref 4% cum guar ($ 1 0 0 ).,..
4 J-J
$3.1)87.900 July ’ 18, 2%
day at 110 and Int. Int. is payable at company’s office or at its agency in
Stock.— The prof, stock is red. at 105 and accr. divs. Thase divs. are Boston. The two Issues of bonds of the Worcester S Southbridge St. R y.
c
Siiar. by the N. Y . N. H. & II. R R . C o., successor to Consol. Ity., as well as are secured by the same m tge., the mtge. providing that bonds can bo Issued
their payment at 105 in case of liquidation or call. See V. 80, p. 1363,1914. up to $ 1 .0 0 0 ,0 0 0 , and are to bear date of issue and be payable 2 0 years after
V. 105, p. 3095.
date. Wore. & Web. bonds cannot be called before maturity. $3,000 le
payable annually into a sinking fund.
(a) Springfield Street R y.— A trolley road.
Dividend.— The
ORGAN IZATION .— Incorporated March 16 1868. Purchase of poned. V. 107, p.June 1918 dividend on tho preferred stock was post
403.
Western Massachusetts Street R y. and issue o f $550,000 additional
ROAD.— Operates 300.08
comprising tho entire streot
stock for that purpose approved by Mass. RR. Comm. N ov. 30 1909. V. railway mileago of Worcester, miles of track,lines radiating from Worcester
together with
89. p.1484. On Nov. 26 1910 Mass. R R . Comm, grantod permission to pur to Leominster, Fitchburg, Clinton, Berlin, Northboro, Marlboro, M illbury,
chase the Springfield & Eastern St. Ry. and Issue $900,000 new stock in ex Northbridge, Uxbridge, Millville, Spencer, Webster, Dudioy, Grafton and
change, share for share, for stock of the absorbed company. V. 91, p. 277. Southbridge.
1513. In M ay 1917 made a contract with the Tumors Falls Pow. & Elec.
EARNINGS.— For cal. year 1916 and years ending Juno 30:
Co. for the purchase o f its entire power requirements. V. 104, p. 2119.
Year—
Gross.
Net.
Charges.
Divs.
Surplus.
On N ov. 16 1915 the Mass. P. S. Comm. auth. the issuance of 9.472
Bhares additional stock at 1 1 0 to pay floating debt incurred for permanent 1 9 16.............................$3,178,494 $984,809 $503,245 $346,300 $135,263
1915-16........................ 2,997,700
942,380
554,257
300,950 87,173
improvements. V. 101. p. 1887. New stock issued Juno 27 1916.
853.365
563.810
281,160
8,395
In April 1918 was authorized by the P. S. Commission to establish a 1914-15_...................... 2.740.225
two-unit-fare program. The 5-cent faro was retained in the centre of — V. 105, p. 1619; V. 106, p. 1690; V. 107, p. 403, 503, 803.
Springfield within a radius of 2 miles. Beyond this limit a 6 -cent faro zone
(3) Milford A ttleboro & W oonsocket Street Ry.
was established, followed by a second 5-cent zone. In Sept. 1918 was
ORGANIZATION.— Incorporated in Massachusetts on April 14 1898.
auth. to charge a straight 6 -cent faro, effective Sept. 16 1918. V. 107, p.
1194. Comparo V. 107, p. 803.
Fares.— Increased faro rates which were to have taken effect July 1
On N ov. 2 1917 the Mass. P. S. Comm. auth. the co. to Issue $3,275,000 1918 were suspended until Aug. 1 1918 by the Mass. 1\ S. Comm. V.
bonds, payable 2 0 years from date of issue and bearing not to exceed 6 % 106, p. 2757.
interest, o f which $2,305,000 for refunding present bond Issues and $970,000
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
to fund floating debt, &c. (of which $738,000 incurred for add’ns and bet
c
terments and $232,000 for working capital. These had not been issued as Stock $315.000---------------------All owned by New England Inv. S Secur. C o.
First M $300,000 it ($1,000)? 1899
6 A-O
$300,000 Oct 1 1919
o f Jan. 15 1918. V. 105. p. 1899.
not subject to call____ n tf lin t, at Old Colony Trust C o., Boston, Trust.
Wage Increase.— An incroaso o f 2414 % was granted the cannon effective
June 1 1918. V. 106, p. 2650.
Year ending—
Gross.
Net. Int. & Taxes. Divs.
Surplus.
......... dof$l,745
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity. Dec. 31 1916.................... $107,905 $17,524 $19,269
21,667
20.946
.........
721
Stock $4,654,700 ($100).....................
Text
$4,654,700
See text June 30 1916.................... 107,482
33,019
20,311$12,600
108
First mtge $1,700,000 goldl 1903
4 g A-O
1.700.000 April 1 1923 Juno 30 1915.................... 112,654
($ 1 ,0 0 0 )-------------- c*.ntfjSpringfield Safe Dep, & Trust C o., Trustee.
ROAD.— Operates 29.72 miles of track. 22 pass, and 7other cars.
S e p t ., 1918. J
ELECTRIC RAILWAYS
INTER-STATE CONSOLIDATED STREET RY.
ORGANIZATION.— organized as successor In Massachusetts to the
Inter-state Consolidated of Rhode Isis nd. Has permission to carry freight.
Fare Increase.— In Aug. 1918 the M ass-P . S. Comm, approved increases
in rates ranging from 50 to 100% to be'accomplislied by shortening faro
sections. V. 107, p. 696.
STOCK—
Interest. Outstanding.
Last Die
$275,000 D ecT4, 2%
Stock 5275,000 (par $100)......................... ............
Current liabilities J no 30 1917____ _______ 270.790
_______
Dividends.— First dtv., 11%, for 2 years, paid April 1 1904: in 1906
7% ; in 1906, 7% : in 1909, 5% ; in 1910 to 1912, incl., 4 % ; in 1913, 5% ; in
1914, Juno, 6 %; Dec., 2% . None since.
ROAD.— Owns 24.10 miles o f track and 1.93 miles o f sidings, from
Rhode Island State line to North Attleborough, Attleborough and Plainvillo, Mass.
Year ending—
1
Gross.
Net.
Charges. Dies.
Balance.
Dec. 31 1916.................. $188,150 $25,768 $19,051
____ sur.$6,717
Juno 30 19 1 6 ................. 172,114
24,245
20,347
____
sur 3 898
June 30 1915.................. 174,088 28,150
23,553 $5,500
def.902
OFFICERS.— Pres., Francis H. Dewey, Worcester; V .-P ., O. V. AVood
Springfield; Gen. M gr., H. O. Page, Worcester; Troas., L. Candeo. SpringfleW; Clerk F. P. McIntyre, Springfield; Aud., J. W . Jamieson.— V.
73, p. 236; V. 107, p. 696.
_______
WARE & BROOKFIELD STREET RAILWAY.— A trolley road.
Sale.— On April 23 1918, Swift, M cNutt & C o., junk dealers of Boston
Mass., purchased the co.'s property at auction for $51,000. Operations
were abandoned on Feb. 3 1918 and the road Is being dismantled Y 106
Y O R K , PA.
YO R K RAILW AYS.— A trolley road.
ORGANIZATION.— Incorporated in Pennsylvania N ov. 15 1907 as a
consolidation of properties operating in York and vicinity. V. 85 d 1403
Franchise perpetual.
The following companies have been consolidated or mergedYork Street Railway C o..
York Haveu Street Ily. Co
Wrightsvllle & York Street R y. C o. Red Lion & Windsor Street R y Co
York & Dover Electric R y. C o.,
Hanover & York Street R v Co
York & Dallastown Ry. Co.
’
*
Owns entire capital stock o f Edison Light & Powor Co. (except 14’ of 1
share), Incorporated In April 1913 to take over the lighting and power sub
sidiaries of the York Railways and other properties, including the Edison
Electric Light Co., the lighting companies of West York, North York Man
chester, Mount Wolf, Dover, Hallam and othors. In July 1 9 1 5 the Mer
chants’ Eloctric Light, Heat & Power Co. o f York was purchased and with
five suburban lighting companies consolidated with the Edison Light *
Power Co. During 1916 a municipal lighting system was installed in York
under a ten-year contract. Also owns entire stock o f York Suburban Land
Co. and York Steam Heating Co. (V. 85. p. 1463).
a
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Common $2.o00,000 (850).................
.......... ..
$2,500,001)
_
V
Pref $2,000,000 5% cum ( $ 5 0 )-----Q-J
1.600,000 Jufy’ 18 *i u
1st mtgo& coll trSK),000.000 1907 6 J-D
4.938.000 Dec 1 i937
gold ($1,000)------------ c*tf\Guar. Trust & Safe Dep. C o., Phlla., trustee
Stock and Bonds.— Pref. stock is cumulative 3 years from date of Issue
The stock o f the controlled Edison Light & Power Co. and York Suburban
Land Co. are deposited as additional security for the bonds. $192,000
bonds In treasury. Remaining bonds can only bo issued under certain re
strictions. No sinking fund. See particulars of bonds, property, &c., in
Y. 87, p . 40. Stocks and^bonds aro listed on the Phlla. Stock Exchange.
Dividends.— Initial div. on pref.— 1 % — paid July 1911. In 1912 4%
In 1913 and 1914. 5% . In 1915 the regular Jan. div. o f 2)4% was paid In
6 % scrip dated Jan. 30 and maturing Jan. 30 1918, but called for pavment
on Jan. 30 1916. Tho July div. of 2)4% was paid in cash. In 1916 6 )4 % .
in
arul 214% extra in Jan. in full payment o f accumulations.
In 1918, Jan., 114%; April, 114%; July. 114%.
EARN ING S.— For years ending N ov. 30:
Nov. 30.
Gross
Net (after
In t.&
Depre- Preferred Balance.
Year—
Earnings. Taxes). Bond Disc, elation. Dividends. Surplus.
1916-17------- $1,051,472 $455,820 $251,641 $60,161 $140,000 $4,018
1915-16............ 967,496 470,788
259,075
40.541 lOOToOO
71J72
1914-15---------- 828.299 370,844
239,474 20,658 80,000
30 712
223,338
16,915 SolOOO
28!494
1913-14............ 796,645 348.748
Latest Earnings.— For 8 mos. ending July 31 1918, gross, $724,124; not.
$292,141; charges, and taxes, $225,170; sur., $60,971. In 1916-t7 gross,
$694,655; net, $324,066; charges and taxos, $220,856; sur., $103,210.
R O A D .—Owns and operates about 84.54 miles of track centering in York,
Including an Interurban line between Hanover and York, 18.8 miles.
OFFICERS.— Pres.. Gordon Campbell; V .-P ., L. O. Mayer: Sec.. M .
G. Steos; Troas., E. A. Barnitz; And., J. J. Landors.— V. 104 n 165- V.
106, p. 603, 823.
_______
_______
* v 001
Y O U N G S T O W N , O H IO .
REPUBLIC RAILW AY & L IG H T CO.— (See M ap on Page ISO.)—
ORGAN IZATION .— Incorp. in New Jersey on June 27 1911. This
company, by the acquisition of practically all o f the common stock of tho
Mahoning ft Shonango Ry. 3c Light C o., has the ownership or control of
the properties o f tho following companiesMahoning 3c Shen. Ry. 3c Lt. Co.
Ponna. 3c Mahoning Valley R y. Co.
The Now Castlo Eloctric Co.
Pennsylvania Power Co.
Now Castle Electric st. Ry. Co.
Sharon 3c New Castlo R y. C o.. Ohio,
The New Castlo & Lowell Ry. Co.
Sharon 3c Newcastle St. Ry. C o.. Pa.
New Oast o 3c Lowell Realty Co.
Shenaugo Valley Eloctric Light Co.
New Castle 3c Mahon. St. R y. Co.
Youngstown 3c Niles Ry.
Nqw ' Castlo Traction vji».
V ------- -.»vwuii Co.
Zellenople Light 3c Power Co.
Also controls tho Republic Corp. and tho Idora Park Amusement Co.
Merger o f Subsidiaries.— During 1914 steps wero taken to consolidate a*
many or tho properties as possible to reduce oxpenses, facilitate operation
and improve conditions for refinancing. The Mahoning 3c Shenango R y . 3c
Lt. Co. absorbed the Sharon 3c New Castle Railways C o., Youngstown
Sharon Ry. 3c Lt. C o., Sharon 3c Wheatland St. Iiy., Valley St. Ry. and
Wheatland St. R y. The Youngstown 3c Sharon St. R y. absorbed the
Youngstown Consol. Gas 3c El. Co. In 1915 the proportiee o f the Ropubllc
Construe. Co. wero transferred to"the Mali. 3c Shen. R y. 3c Lt. Co. In 1917
acquired tho Mahoning County Light Co., oper. a steam-heating plant in
Youngstown. In Aug. 1 9 1 7 the Mah. 3c Slicn. Ry. 3c Lt. Co. absorbed tho
Mah. Valley R y., the Mah. Val. So. East Ry., tho Poland St. R y., tho
Youngstown I ark 3c Kails st. Ry. and tho Youngst. 3c Sharon St. Ry. V.
104, I). 2118. The Sharpsvillo Elec. Lt. Co. was merged with tho Shenango
Valloy Elec. Light Co. and a number o f other borough companies around
Sharon. 1ho properties now owned and operated directly by tho Mah. 3c
Shen. Ry. & Lt. Co. furnish 82% o f tho gross earnings o f tho system.
Franchises.—Practically all tho Pennsylvania franchises aro perpetual.
Railway franchises in Youngstown expire 1933. The most important inter
urban franchises in Ohio expire from 1945 to 1950 and Ohio lighting and
power franchises in 1937 and 1942.
8
8
Operation at Cost.— On Aug. 16 1918 tho Youngstown City Council
adopted tho report of the Street Railway Committee which called for tho
operation oi the Mahoning 3c Shonango Ry. 3c Light Co. on what is known
131
as tho Cleveland plan, which provides for operation at cost and a fair return
on the investment. V. 107, p. 1004.
^
Fares.— The co. has applied for fare increases over its entire system. A
6 -cent fare is now in effect in the city of New Castle, Pa. The question o f
an increase on interurban lines in Ohio was brought before the Supreme
Court of that State for a decision as to the authority of the P. U. Comm, to
grant such increase, and on June 20 1918 the court hold that no such auth.
was vested in the P. U. Comm. The co., it is stated, has appealed. The
City Council of Youngstown, Ohio, has recommended a 6 -cent faro on the
co s lines for the duration of the war. V. 107, p. 1101.
£J
In Jan. 1918 the Mahoning 3c Shenango Ry. 3c Light Co. was authorized
by the Ohio P. U. Comm, to issue $2,000,000 bonds, proceeds to be u
sed
for improvements during 1918. V. 106, p. 296.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Common $7,500,000 ($100).................................
S6,206,000
See text
Pf 6% cum $10,000,000 ($ 1 0 0 )-----Q-J 15
5,191,400 Oct ’ 18. 1 H
Convertible notes $2,506,0001 1918 6 g J-J 15
1,500.000 Jan 15 1920
($l,000)g c* guar p 3c i.c p t /I n t . at First T r. 3c Sav. C o.. Clove., O., Tr.
Mah 3c Shen Ry 3c Lt 7% cum
pref stock $10,000,000__________
Q-M
3,639.200 ___________
Mah 3c S R 3c L 1st 3c cons M ( 1915 5 g M -N $10,600,000
Nov 1 1920
$20,000,000 gold— c*r*.tf)Guaranty Trust C o., New York, trustee.
Pa 3c M V 1st and refunding ( 1902
5 g M -N
1,757,000 M ay 1 1922
mortgage $2,750,000 gold] Int. at Harris, Forbes 3c C o., New York.
($1,000)------------------ c * -t f ( U. S. M tge. 3c Trust C o., N . Y ., trustee.
New Castle Traction 1st mtgef 1897
5 g M -N
500,000 M ay 1 1927
$500,000 gold ($1,000) .c*tf (Int. at Union Trust C o., Pittsburgh, trustee.
N C Elec Co 1st M $200,000( 1897
5 g M-S
200,000 M ar 1 1927
g old ----------------------------- tf lin t, at Union Trust C o., Pittsburgh, trustee.
Y-S Ry 3c Lt 1st M $2,500.-1 1900 5 g J-J
2,066,000 Jan 1 1931
000
($1,000) gold s f .. c * .t f lint, at New York Trust C o., N . Y ., trustee.
Shar 3c New Castle 1st mtgef 1901
5 g J-J
275.000 July 1 1931
$500,000 gold ($1,000) s fj Interest at New York Trust C o., New York.
guar, prin 3c int______ c * .tf( trustee.
Mahoning Valley 8 E first f 1903
5 J-J
94,000 July 1 1923
mortgage---------------------- tf -j Int. at Lawrence Savings 3c Trust C o ., New
I
Castle, Pa., trustee.
Youngst Park 3c Falls St R y f 1898
5 J-J
194,000 Jan 1 1919
first mortgage-------------- tf lin t, at Union Trust C o., Pittsburgh, trustee
Poland St R y 1st M $200,000/ 1913
5 J-D
170,000 June 1 1923
($1,000) guar p 3c i ----- n t f\Union Trust Co. of Pittsburgh, trustee.
Stock.— Common stock Is held in voting trust. The pref. stock o f th
Mah. 3c Shen. R y. 3c L t. Co. has full voting power. Free o f Penn, an
Ohio State tax. Callable as a whole at 110 3c divs. V. 103, p. 2341.
Bonds.— Of the $20,000,000 Mah. 3c Shen. Ry. 3c Lt. 1st and cons.
5s, $5,259,000 are reserved to retire underlying liens and remaining $4,641,
000 for 80% of cost of add’ns, impts., 3cc., under conservative restriction*.
Denom., c*. $1,000 and $500; r*. $1,000 and higher. Callable as whole,
but not in part, at 101 and int. on 60 days’ notice. Tax-exempt in Pa.
V. 101, p. 1713. Of the Penn. 3c M ah. Val. R y. bonds, $750,000 are re
served to retire prior liens; a sinking fund of $50,000 per annum began
Nov. 30 1911. Bonds purchased for sinking fund are canceled, $243,000
have been purchased. The Youngstown-Sharon 1st mtge. bonds can be
cnllod at 115 and int. on any interest date; $374,000 have been acquired
by sink. fund. For lien covered by these bonds, see “ Street Railway"
Section of June 24 1905. The Sharon 3c New Castle bonds are subject to
call at 115 and int. on any Int. date; $75,000 have been acquired by sinking
fund. For lien of these bonds see "Street Railway” Section of June 24 1905.
The Poland St. R y. bonds are guar., prin. and int., by the Rep. R y. 3c L t.
Co. Redeemable at 100 and int. on 30 days’ notice.
Tho 2-year notes are convertible at option o f holder into Mahoning ft
Shonango R y. 3c Lt. Co. 7% cum. pref. stock, par for par, between July 15
and Dec. 15 1919, incl. Are guar. prin. and int. by endorsement of M a
honing 3c Shenango R y. 3c Lt. Co. and are secured by deposit o f M ah. ft
Shen. Ry. 3c Lt. Co. 7% cum. pref. stock equal in par value to the amount
of notes outstanding. As notes are called an equal amount of pref. stock
will bo released. Notes are also secured by a deposit o f all the outstanding
com. stock of the Mah. 3c S. R y. 3c L. Co. The remaining note f may be
issued upon deposit of add’l pref. stock in equal amount. Add'l pro f.stock,
however, may be issued to the public to an amount equal to the unissued
notes in lieu o f the issuance o f notes. The notes are redeemable, all or in
part (in lots of no less than SIOO.OOO), on 30 days’ notic ea tl00)4 ancl int.
Pennsylvania 4-mill tax refunded. V. 106, p. 297.
Dividends.— On pref. 1)4% quar. has been paid sine <organization.
Quarterly divs. on com. of 1% , paid from Jan. 1917 to and i » c -Ju
8.
Oct. 1918 div. omitted. V. 107, p. 1193.
RE PO RT.— Consolidated income account of subsidiary cos. (iater-co.
items eliminated) (1917 report in V. 106, p. 1570):
Calendar
Gross
Net (after
Other
Interest, Pref.Div. Balance,
Year—
Earnings. Taxes).
Income.
&c.
(6% ). for Com.
1917..........$4,889,916 $1,548,732 $67,206 $1,004,427 $311,484 $300,027
1916 ......... 3,987,616 1,660,210 20.966
827,570 311,484 542.122
Latest Earnings.— 12 months «nding Aug. 31:
1918.........$5,552,609 SI,591,113 S115.399 $1,143,063 $311,484 $251,965
1917 _____ 4,444,721 1,596,772
44,349
939,530 311,484 390,106
Passengers carried in 1917, 59,923,005, against 53,448,848 in 1916.
PR OPERTY, 3cc.— Supplies, through Its subsidiaries, electric light,
power and gas to Youngstown and other communities in the Mahoning and
Shenango River valleys, in Eastern Ohio and Western Pennsylvania, mid
way between Pittsburgh and Cleveland, and owns 174.72 miles of urban
and interurban railway lines in the same locality, of which about 40 mile*
on private right of way. Has contracts for lighting with numerous cities.
Three elec, light and power plants, present capacity 59,250 k. w. also
artificial gas plant in Youngstown; 3 gas holders.
EXECUTIVE C O M M ITTE E .— Anson W . Burchard, F. L. Dame, R . P .
Stevens, Robert Lindsey and Harrison Williams.
OFFICERS.— Pres., Harrison Williams; V .-P ., R. P. Stevens; V .-P . &
Gen. Counsel, Wm. M . Coleman: Sec. & Troas., E. W . Freeman.— V. 105.
p. 1999; V. 106, p. 297,397,822,1037,1570,2229; V. 107, p. 502,1193.
Y O U N G S T O W N & SUBURBAN R Y . CO.
In M ay 1917 control was acquired by Municipal Service C o., a Maine
holding corporation. (V. 104, p. 1387, 1592, 1900, 2013.)
ORGANIZATION.— Incorp. in Ohio, Sept. 1916 and acquired the prop
erty of tho Youngstown & Southern R y.. sold at foreclosure Sept. 2 1916.
(V. 103, p. 940, 1033).
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Common $750,000__________ _____
_________
S350.000 __________
Preferred (cum) $750,000___ _____
6%
470,000 __________
1st M $1,500,000............ c t f 1916
5 M-S
700.000 Sept 1 1936
S30.000 pref. stock in treasury in addition to amount reported outstand’g.
Bonds.— $800,000 are reserved for extensions and additions under certain
safeguards. Red. at 102)4 and int. at any time. Sink, fund to retire
$5,O0O at 102)4 and int. annually, beginning Sept. 1 1919. Guaranty
Trust C o., N . Y ., trustee.
EARNINGS.— For 12 mos. end. June30 1918, gross, $237,315; net (aitet
taxes), $74,044; fixed charges, $35,112; surplus, $38,932.
ROAD.— Operates interurban road between Youngstown and Leetonia
about 20ra. 9 passenger, 12 freight and express and 1 work car; 1 electric
locomotive and 1 snow plow.
O F F IC E R S — Pres., David T od, Youngstown; 7.-P., J. H. McClu
Sec., JohD E. Zimmerman, Troas.. J. W. Swain ' j. Oper. Mgrs., Day
Ziminermann.— V. 104, p. 1387, 1592, 1900, 2013.
V ol . 107.]
ELECTRIC RAILWAYS
132
E L E C T R IC
R A IL W A Y S
IN
IS L A N D
P O S SE SS IO N S
AND
F O R E IG N
C O U N T R IE S
HALIFAX, N. S.
N O V A S C O T IA T R A M W A Y S & P O W E R C O .
acquired
Oo., L td .,___ _____ ______ J P M R H P l i _______________ _
.
and gas properties in Halifax; and (b) water power rights, lands. &c., on
the Gasperoaux River, 55 miles from Halifax, capable o f a hydro-electric
development o f approximately 12,000 h. p.
Franchises, in opinion o f counsel, are perpetual.
The stock was offored in Jan. 1917 In blocks o f 10 shares of prof, and 3
•hares com. stock for $1,000. V. 104, p. 164.
In acting upon the co .’s application for auth. to increase its capital stock
by $4,000,000 and to issue $975,000 in bonds, the P. U. Comm, in Doc. 1917
auth. items involving a capital expenditure of $845,641, and held over
for further consideration items aggregating $569,686. For the present the
Board refused to Increase the capital any further.
Fares.— An increase o f 50% In fares in Halifax was recommended by the
local authorities in Jan. 1918. V. l06, p. 396.
STOCK AN D BONDS— Date.
Interest. Outstanding. Maturity.
Com stock $3,500,000 ($100).......................- - - - *2,510.000 - - - - - - Pf 6% cum $2,500,000 ($100)--------J-J 2
2,076,000 July T8, 3%
l«t M $10,000,000 g o ld s or £1 1916
5 g J-D
2,250,000 Dec 1 1946
($1,000 and $ 5 0 0 )--.c * -t flin t , in New York. Montreal and London.
Preferred Stock.— Divs. payable without deduction for any taxes imposed
by any taxing authority in Canada.
Bonds.— Remaining bonds may be issued up to 75% o f cost o f acquisitions
or lmpr’ ts (except that no bonds may be issued against the cost o f the new
(&■ plant) and only when net earnings are double the 1st M . interest
charges, Including bonds to be issued. Annual sinking or impt. fund of
1% of bonds out began Dec. 1917, for add’ns or impts., or for redemption
of bonds. Callable, all or part, for sinking fund, at 105 and int. on any
Int. date on 60 days' notice. Int. payable without deduction for Canadian
taxes or U. S. Federal taxes. Fixed exchange rate, $4 86 2-3 per £ sterling.
Trustees, Union Trust Co. of N . Y ., and Royal Trust Co.. Montreal.
Eaminns.— Of Halifax Elec. Tram. Co. (and consolidated cos. beginning
wltt 191?) tor cal. jrearaj
^
m
Gross earnings.. $447,579 $539,953 $645,241 $718,840 $759.7265859,668
Net, after taxes. 207,973 253,393 269.818 301.753 311.882 131,506
9,534,162 passengers carried in 1917, against 8,935.380 In 1916.
PROPERTIES.— 21.2 miles of street railway, single track equivalent.
Standard gauge; 60-lb. T and 80-lb. girder rails. 62 passengor cars, 5
■weepers, 5 mlsc. cars, &c.; power houso with 6,200 h. p. capacity; lighting
and power distribution system; gas plant, with about 45.7 m. o f pipe lino.
OFFICERS.— Pres.. E. A. Robert, Montreal: V.-Pros., O. E. Smith,
Halifax; Managing Director & Sec.-Treas., H. R . Mallison, Halifax;
Comp. & Asst. Treas., J. R. Blackett.— V. 106. p. 86, 396.
HAMILTON, ONTARIO.
D O M IN IO N P O W E R & T R A N S M IS S IO N C O.
ORGANIZATION.— Incorp. In Canada on Jan. 11 1907. Controls
and operates the following properties;'
Hamilton Cataract P., Lt. & Tr.Co. Ham. Elec. Lt. & Power Co.
Dundas Electric Co.,
Hamilton Radial Elec. R y..
Lincoln Elec. Lt. & Power C o.v
Brantford & Hamilton Elec. R y..
Western Counties Electric Co.,
Hamilton Street R y.,
Welland Electrical Co.,
Hamilton S Dundas St. Ry.,
c
Hamilton Terminal Co.
Ham. Grimsby S Beamsville R y..
c
Interest. Outstanding. Maturity
STOCK AND BONDS—
Date.
.................$7,714,500 Sept’ 1 8 ,1%
Ordinary $9,900,000 ($100)...............
J-J
‘ "
3,681,100 JutyT8,3H
Preference $10,000,000 ($ 1 0 0 )-----See text
5.152,000
5 g A-O
lit mortgage $25,000,000 ( 1907
($1,0001 g o ld --...........c*tf Harris Tr. & Savs. Bk. of Chicago, Trusteo.
(Nat. Trust Co., Ltd., Toronto, Can., trust.
Ham Oat P L & Tr Co, L td,! 1903
5 A-O
1,911,000 April l 1943
1st & rof M $5,000,000 gold! Int. in Hamilton & N. Y. Nat. Trust Co.,
($1,000).........- ......... c*ntf
Ltd., Tornuto, trustoo. Callable at 110 &
I int. beginning April 1 1923.
Ham Elec Lt S Cat Pow ls tf 1899
c
5 g A-O
855.000 Oct 1 1929
mortgage gold ($1,000) notilnt. payablo In N. Y. or Hamilton National
callable ____________ c*tf l Trust Co., Toronto, Trustee.
Hamilton Streot Ry 1st mtge- 1898 4H J-D
400,000 Dec 22 1928
Ham Grims & B El Ry 1st M ._ 1895 5 M-N
150.000
1925
Bonds.— Of the $25,000,000 mortgage, $10,000,000 may be issued, with
the approval o f the trusteo. for not exceeding 80% o f cash cost o f extensions
and additions, and the remainder for not exceeding 75% . Since April l
1917 the entire outstanding issue, but not any part theroof, can bo called
at 107Vi and interest on any coupon date on 60 days’ notice. The bonds
mature $54,000 annually from April 1 1914 to 1921 and $108,000 annually
from April 1 1922 to 1931, and the remaining $3,910,000 are duo April 1
1932. Thoy are secured by all the property owned through deposit of
•tock and bonds with trustee, &c.
Dividends.— On the preference stock 6% was paid in 1907: In 1908, 3%
was paid. In Doc. 1908 it was decided to omit div. on both clasess of pref.
■tock; see V. 87. p. 1478. None to Jan. 1911, when 3>S% was paid; July,
3 « % ; also paid In Doc. 1911 div. duo Jan. 1909,3%. In 1912. Jan., 3)4% :
July, 3 )4 % ; Aug.. 3% (due Juno 1909). In 1913, Jan., 3 )4 % . A div.
of 6)4 % was paid Feb. 15 1913 in full of arrears; Ju ly,'3)4% .
In 1914
and since, 7% peran n .
Initial div. on com.— 2% — paid .fiine 1916: Dec
2% . In Sept. 1917 paid quarterly div. of 1% and same rate has been paid
quarterly since.
EARNINGS.— Inch subsidiary cos. (1917 report in V. 106, p. 2338):
Calendar
Gross
Net
Maim. A
Bond
D iv s.
Balance,
Year—
EarningsEarnings.
Hen'Is In'..Ac.
Paid. S u rp lus.
1917.............$2,967,273 $1,233,514 $111,709 $398,749 $535,153 $187,903
1916............. 2,693.212 1.233,611 157.689 394.769 534,351 146,802
ROAD.— Controls 33 miles o f single track In Hamilton and 86 milos of
Interurban lines, and also supplies light and power to Hamilton, Brantford.
Ht. Catharines, Welland and intervening territory. Likewise owns a
56,600 h. p. hydro-electric station. In the summer o f 1917, put into
operation a steam-generating station.
OFFICERS.— Pres., J. R. Moodie; V.-P., Cyrus A . Birge: Sec. & M an’g
Dir.. Wm. C. Hawkins: Gen. M gr., Edward P. Coleman: Treas., James
Dixon; And., C. S. Scott. V. 104, p. 857; V. 105. p. 909; V. 106, p. 929,
2338.
________ ____________
HAVANA, CUBA.
HAVANA ELECTRIC RAILWAY. LIGHT & POWER CO.—
ORGANIZATION.— Incorp. in New Jersey on Mar. 26 1912, absorbing
the Compania do Gas y Electricidad de la llabana (Gas & Electric Co. of
Havana), to acquire and hold tho stocks o f the Havana Elec. Ry. per plan
In V. 94, p. 787. On May 15 1913 a plan for the merger o f the properties
waa approved by tho stockholders o f the Havana Elec. R y., L. & P. Co.
The Havana Electric Ry. stockholders approved the plan on M ay 27 1913
and on|June 18 1913 articles o f consolidation were filed. V. 96. p. 1840.
To date 49,989 (out of 50,000) shares pref. and 74,885 (out o f 75,000)
■hares common stock of the Havana Elec. lty. have been deposited for ex
change o f securities of new company. The Havana Elec. Ry. owned entire
100.000 stock o f the Insular. Ry. Co. Railway franchise runs until 1958.
Companyjalso has right to carry freight over parts o f the system. Gas and
electric franchises perpetual.
Stock Increase.— Stockholders voted on May 21 1917 to Increase the pref.
•tock from $15,000,000 to $21,000,000 to provide Tor tho retirement on
June 15 1917. at par and int., of tho $6,000,000 6% general consolidated
obligations of tho former Compania de Gas y Electricidad de la llabana,
which were assumed by the Havana Elec. R y ., Lt. & P. C o .. and constituted
lien upon its property prior to the lien of Its general M . bonds. Com. and
pref. stockholders of record May 28 1917 were offered the right to subscribe
for new stock pro rata at par and div. V. 104, p. 2118.
STOCK AND BONDS—
Date. Interest. Outstanding. Maturity.
Common515,000,000 ($101))-- . . . .
M -N
S15.000.0o3 M „ :i8 ,3 |
Pf 6% cum $21,000,000 ($100!
5 g F-A
8.983,111 Fob 1 1952
Ilav Elec Ry consol M $10,- 1962
000.000 g ($1,000) s f-c*&r Central Trust Co., New York, Trustee.
5 g M-S
5.845.000 Sept 1 1954
Hav El Ry L & F gon mtge 1914
Guaranty Trust C o., N. Y ., Trustee.
$25,000,000 ($1,000 & $5.~
000) g o ld .................. c*&r
Gas A Electric Co. issues—
Gold mortgage_______________ 1904
6%
3,998,000 June 1 1954
“ English bonds” (£150,000)-. 1906
5%
609,967
1943
Stock.— Pref. stock is red. at $115 per share and accrued divs. Both
com. and pref. are listed on N. Y . Stock Exch. V. 94, p. 1632. $51,594
common and $21,523 pref. stock included In amounts reported outstand
ing are in treasury.
Bonds.— Of the Havana Electric Co. consolidated bonds reported out
standing, $441,430 are In treasury. $1,016,000 have been canceled. A
sinking fund commenced Jan. 1 1900 on tho outstanding consols. Bonds
may be called for sinking fund at 105 and Interest, and entiro Issue can be
redeemed at 105 and Int. on any Int. day upon 6 ruos.’ notice. Sou V. 74.
p.1251. Int. payablo at company's office. They are listed on N. Y . Stock
Exchange. V. 86, p. 918.
The gen. mtge. bonds are red. on 30 days notice at 105. Sink, fund of
1)4% on outstanding bonds begins in 1920. Interest payablo in N . Y.
without deduction of any tax, except Federal income tax. Gf tho $25,000,
000 auth., $10,450,000 are reserved to retire underlying liens, $52,000 are
deposited with Govt, of Cuba, $763,000 aro in treasury and the remainder
for additions and Improvements, under certain restrictions. Listed on
N. Y . Stock Exchange. V. 102, p. 2254; V. 106, p. 715.
Dividends.— Dividends on pref. stock wore begun in Nov. 1912. An
Initial dividend on tho common stock, 2 )4 % , was paid In Nov. 1912. In
m 5
1913, .5 )4 % ; in 1914. 5% ; in 1915, 5 X % : in 1916. 6% : in 1917, 0% ; in
1918. M ay. 3 % .
/
REPO RT.— For calendar years (1917 report in V. 106, p. 2337):
Cal.
Gross
Net (after Other
Fixed Pf. Div. Com.Divs. Balance.
Year— Earnings. Taxes). Income. Charges. (6 % ).
(6% )
Surplus.
5
S
$
^
S
1917---6,989,599 3.604.129 149,755 1,138,623 1,079,349 896,905 639.007
1916.-.6.017,708 3.573,823 144,561 1.297.093 899.991 896.910 624,390
66,418,450 passengers carried in 1917, against 59,698,791 in 1916.
Latest Earnings.—-For 6 months ending June 30:
,
' B Mas. Gross. Net (oft. T at.). Other Inc.
Charges.
Surplus.
1918_ $3,920,085
_
$2,135,758
$80,350
$819,988
$1,396,120
1917--- 3,251,042
1,8-16,488
75,659
965,889
956,258
ROAD, &c.— Railway system, 92.52 miles of single track. Also oper
ates a stage line with 146 stages. Has 410 passenger cars, 11 froight loco
motives, 8 other motor cars, 33 trail cars and 64 side dump cars. 174.30
miles gas mains. The consolidated power plant (capacity 37,500 k. w.)
was completed In June 1916.
OFFICERS.— Pres. S Gen. Mgr., Frank Steinhart; V.-Ps., David T.
c
Davis, E'neterio Zorilla, Antonio San Miguel; Sec. & Treas.. II. Kraemer.
N. Y. office, 55 Liberty St.— V. 106. p. 601, 822, 2011, 2337.
HONOLULU, H A W A II.
HONOLULU RAPID T R AN SIT & LAND CO.— Trolley.
ORGAN IZATION .— Incorporated In Hawaii Aug. 30 1898. Franchise
runs for 30 years from 1901. and permits the carrying of freight and mall
as well as passengers.
In 1903 purchased the Hawaiian Tramways Co. (having outstanding
£65,000 stock and £30.000 6% debentures, and comprising 12H miles of
track): paymont being made by the Issue of $150,000 6% bonds of the
Rapid Transit Co.; 910 shares of preferred stock and $59,150 in cash.
In 1909 the Pearl Harbor Trac. Co. was Incorporated with $100,000
stock, 99.3% owned by Honolulu Rapid Transit, for the purpose of ex
tending tho Rapid Trans. C o.’s line to Naval Station at Pearl Harbor.
On July 24 1916 the Supreme Court of Hawaii sustained tho decision of
Judge Stuart In the Circuit Court at Honolulu in 1915 denying the Injunc
tion asked for by the Territory of Hawaii to prevent the co. from Increasing
Its capital stock from $1,207,500 to $1.600,000.
Stock was increased from $1,207,500 to $1,600,000 In Aug. 1916. V .
103, p. 938. In 1917 It was Increased to $2,000,000.
„
AH the $528,000 1st M . 6% bonds duo M ay 1 1927 were called for pay
ment May 1 1917. T o provide therefor and for exts. and Impts. the stock
holders voted to Issue $400,000 additional stock and to croate a 6%
bond issue to be availed of as funds are required.
STOCK’— Authorized and outstanding (par $100). $2,000,000. Divi
dends payable Q .-M . 31.
.
Dividends may not exceed 8% on par value of stock Issued. Excess of
Incomo (aftor providing for sinking fund to retire bonds and capital stock)
must be divided equally between Govt, of nawall and stockholders. All
pref. stock was converted Into com. In 1913.
Dividends.— On common Dec. 31 1903, 1%; In 1904. 4% : In 1905, 4% ; In
1906. 3 )4 % ; In 1907. 3% ; In 1908. 4% : In 1909, 4% ; In 1910, 4% ; In 1QI1
and 1912. 6% ; In 1913. and since. 8% per annum.
REPO RT.— For years ending Dec. 31:
Calendar
Gross
Net
Int., Taxes. Dividends
Balance.
Year.
Earnings.
Earnings. Deprcn.,Ac.
(8 % ).
Surplus.
1917
......-$726,603
$332,636
$227,025 $152,000 def.$46,388
1916
___ 669,982
314.546
117,933
112.30084.313
1915 .................. 599.564
227.153
103.364
96.60027.189
Passongors carried In 1917, 14,378,092. against 13,213,700 In 1916.
Latest Earnings.— For 6 months ending June 30:
6 Mos.—
Gross.
Net.
Other Inc.
Charges.
Bai.,Sur.
1918
.........$348,658
$135,012
$15,277
$76,112
$74,177
1917
_____ 346.942
165.170
7.839
32,592
140,418
ROAD.— Operates 26 miles of track.
Gauge, 4 ft.; 70 and 85-Ib. rails
54 vest.lbuled motor cars: capacity of generators, 1.900 k. w.
OFFICERS.— Pres.. L. T . Peck; 1st V.-P., L. A. Thurston: 2d V .-P ..
G. P. Castle; Sec., A. L. Castle; Treas., C. H. Atherton; M gr., II. S. John
son.— V. 102, p. 1§50; V. 103. p. 759, 938; V. 104. p. 1387; V. 106, p. 1577.
K IN G S T O N , JAM AICA.
WEST INDIA ELECTRIC CO.— A trolley road.
ORGANIZATION.— Incorporated 1897 In Jamaica. In 1907 took over
the lighting business on a rental basis. Franchise expires Jan. 1 1928.
STOCK AND BONDS—
Date. Interest. Outstanding. Maturity.
Stock $800,000 ($100)...........................................
$800,000 Oct.’ 18.1 H %
First mortgage
$600,000(1898 5 g J-J
600.000 Jan 11928
($500) g o ld .___________ c*jM ontroal Trust & Deposit C o., Trustee.
Not subject to call.
(interest at Bank of Montreal. Montreal.
Dividends.— First div. on stock— 1%—paid April 1 1908: 1% was again
paid July 1 and Oct. I 1908. In 1909. 4 n % ; slnco, 5% per annum.
REPO RT.— For years ending Dec. 31:
Year—
Gross.
Net. Int.ARents. Taxes.
Dividends. Surplus.
1917........ $287,211 $128,021 $42,000 $7,909 (5%)$40,000
$38,112
1916
.................... 286.322 142.257
42.000
7.887
(5% ) 40,000
Passengers carried in 1917, 4.825,737, against 4.812.754 in 1916.
Se p t ., 1918.J
ELECTRIC RAILWAYS
ROAD.— Operates 24 miles o f track In and around Kingston, Jamaica.
Gauge, 4 ft. S li In. 90-lb. girder and 60-lb. T . rails.
OFFICERS.— Pres., James Hutchison; V .-P ., G. J. Crowdy; Sec., F.
Williamson; Comp., E. M . Johnson; Gen. M gr., D. N. Barr.— V. 100,
p. 983; V. 101. p. 284; V. 102, p. 1164; V. 103, p. 58; V. 104, p. 1168.
,
LONDON, CANADA.
L O N D O N STREET R A I L W A Y C O . — A trolley road.
Incorp. under
the laws or Canada In 1873. Franchise expires 1925, at which time, or any
fifth yoar thereafter, the city has the right to purchase the property (except
Springbank line) on an arbitration basis, by giving one year's notice In
advance.
Fares. In M ay 1918 the City Council rejected tho company’s application
for a faro increase.
—
Date.
Interest. Outstanding. Maturit
Stock $750,000 ($40)------------ -------J-J
$637,480 July'17 3%
FIrap mortgago $750,000 gold ( 1896
5 g M-S
560.000 Mar. 8 loJS
($1,000) ------------ - -------- c*lToronto General Trusts C o., trustee.
Bnnds.— The remaining $50,000 can only be Issued for 66 2-3% of actual
cost o f additions and extensions, when net earnings are equal to 10% of all
£onds out. Including those to be Issued; but total debt must not exceed
$20,000 per mile o f single track. V. 78, p. 2384. Interest is payable at the
Canadian Bank o f Commerce, Toronto. In each of the 10 years preceding
maturity 5% o f bonds shall be drawn by lot and redeemed at par on 40
days notice. $140,000 have been retired.
"
T*15 V ,8?$ was Pfk ill ig02, 8% ; 6% in 1903, 1904, 1905
'd;
< ?^ 9
JR< ,99; , *99^ dividends omitted on account o f strike. In 1908 to
1915, inclusive, 6% per annum. In 1916, Jan., 3% (cash); July. 3% (in
stock). In 1917, Jan., 3% (cash); July, 3% (in stock). Nonesince.
R E PO RT.— Years ending Dec. 31;
Gross.
Net.
Charges. Dies. (6 % ). Surplus.
1917................... *417,862
$86,768
$39,291
a$17,180
$30,297
1916
42b,315
133,914
40,303 533,860
59,750
a All paid in stock, b Including div. of 3% paid in stock July 1916.
i>^A°,Rge^ carrled 9? 1917. 11.374,396, against 11,518,428 in 1916.
§ 9 A D ’"^ 0 p Sra,te? 36.10 miles o f track. Standard gauge. 56. 73. 75
and 80-lb. I and girder rail. 58 motor cars, 5 trailers and 6 misc. cars. Has
,l),0'vu,^ wRh the Ontario Hydro-Electric Power Commission.
OFFICERS.— Pres., Okas. Currie, Akron, O.; Sec. & Treas., L. Tait,
I^n'lon- Ont.; Gen. M gr., C. B. King, London, Out.— V. 104, p. 1489;
V. 106, p. 607, 2345.
LO N D O N & L A K E ERIE R A IL W A Y & T R A N S P O R T A T IO N CO.
ORGAN IZATION .— Incorporated In Canada In 1909 as successor to the
Southwestern Iraction C o., sold on Oct. 20 1909. V. 89. p. 1281.
The bondholders on Sept. 18 1917 voted to notify the several municipali
ties served by tho road that it is proposed to sell the property in bulk or
parcels and discontinue operations unless municipal aid shall be granted to
enable the electrification o f the line. In April 1917 the company offered to
sell that portion of Its lino between St. Thomas and Port Stanley, 8 miles,
together with 4 cars, for $168,000, severe competition from tho London A
l ort Stanley R y., a municipal lino, being given as the reason. Tho comP1
A ny, . . s that, operated as a freight and passenger line in connection with
the city s line, this portion o f the road would pay.
On Mar. 20 1918 tho directors offered the company’s property to the City
of London tor about $420,000. V. 106, p. 1344. An investigation bv tho
city resulted In an appraisal o f tho property at $262,164. V. 106, p. 2229.
In June 1918 the company offered that portion o f its line between St.
Thomas and I ort Stanloy to tho city of St. Thomas, Ont., for about $150,
000, and invited tonders for tho purchase o f its entiro property as a going
concern or in parcels. V. 106, p. 2560, 2649.
o.
—
Date.
Interest. Outstanding. Maturity.
Stock $2,000,000 ($100)...........................................$2,000,000
1st M $840,000 ($500). Not? 1914
5 J-D
840,000 June" 1" 1944
subject to call----------------- \ Fidelity Trust Oo., London, Out., trustee.
—Interest Is payable at head office o f company.
.-ROAD.— Operates from London to Port Stanley via St. Thomas, 28 miles
of
14 m*les ° « private right o f wav.
OFFICERS.— Pres., George B. Woods; V .-P ., T . H. Purdom; Sec.,
& Oen. M gr., W. N. Warburton. Offlco, London, Canada.—
V. 100. p. 308; V. 105, p. 290. 1209; V. 106, p. 1344, 2229, 2560, 2049.
MANILA, P. I.
MANILA ELECTRIC RAILROAD & LIGH TIN G CORPORATION
O R G A N IZ A T IO N .— Incorporated In C onnecticut on June 25 1903. and
owns stocks and bonds o f the M anila E lec. R R . A Light C o ., having a 50yoar rrancki.se from M arch 24 1903, practically the ontire stock o f the Union
and Of the Com pauia de los Transvias do Pilipinas, and over
98 ^ or the stock o f ’ Electrfcista, a Spanish com pany having a 60-year
franchise for electric lighting and ontire capital stock o f M anila Suburban
n y s . c o . Besides doing the street railway business, supplies light and
power ror private, m unicipal and Governm ent use. M unicipality m ay ac
quire property after 26 years on a valuation fixed b y net earnings, the SuK f v S S l ? ® of, Hle Isl;u'ds being referee. Stock and bonds are listed on the
New York and London Stock Exchanges.
On Dec. 6 1909 increased authorized stock from $6,000,000 to $8,000,000:
new stock to be 6% cum. pref. V. 90, p. 372.
* 0 .0 0 0 ,0 0 0 .
Pref
S^^o
^^JR i ^ O N D S —
Date.
Interest. Outstanding. Maturity
non a’2-00 ($100)........................................ $5,000,000 O ct ’ 1 8 .1 )4
P1n m JSSrwil o°nmtr *5 '000-:L l 903. 6 «f M -S m 4.593.000 M ar7‘l'i9 5 3
.............. c * l l n t . at Equitable Trust C o ., N . Y ., trustee.
fund of,
p i'b o n d s outstanding began M ar. 1 ig08
K S L fl?
u1®1:* now 1% o f bonds outstanding. The fund is to be
I
oonOs at not more than 105 and interest, at which price they
are subject to ca.ll for the purpose. Are redeemable as a whole at 105 and
after M a r, 1 1928. V . 82, p. 218. Bonds are listed on N . Y .
S404.000 are in hands o f trustee for sinking fund.
$3,000 held by trustees in lieu o f m ortgaged property sold.
n u i / 1'
10°7. 3 % ; in 19(fs to 1910 ln c l.,4 % In 1911.
6 k /o. in 1912, 1913 and 1914, 7 % ; since, 6 % per annum.
R E P O R T .— F or calendar years (1917 report In V . 107, p. 77),0 1 7
,,
Net (aft.Tax.)
Int.&S.F.
Dividends.
Surplus.
------ ® }’ 795’ 716
$878,248
$332,658 (6% )$300,000
$245,590
- H 9H Z 9
758,655
308,817 (6% )30 0 .0 0 0
149.838
■.ho'494’7? 8
731.829
306.475
(6)300,000
125,354
ca n n on in lam ® ]™ .Is a b o Ye thore. was deducted; $108,000 in 1917 and
in l917 a g f f i $69,838 in l "
™
fu u d ’ )oavin« 5137.590
,,
9 p6rat08 45 miles o f track (including M anila Suburban R ys
C o . in the city and suburbs. 70-lb. T and 92-lb. girder rails. Owns 54
tractod for7! ^°nnn>
',truck pal songcr cars a\ 14 service cars. Has com
s
ul
p r o b ^ b l/b o com pleted’ in m o
8™ 0 0" tho ‘ ^ ta lla tio n o f which will
„ °„FF^ 5 5 n
Pr<?s v ch arl0s M - Swift; V lco-Pres’ts, Joseph K . C hoate,
It. B . M archant and J. H. Pardoe, N ow Y ork : Sec. AiTrcas1 T . 4V. M o f.,
-v .
(1) Manila S uburban Railways Co.
c o r p -’ Now York-
MONTREAL, CANADA.
& P O W E R C O . — A holding company.
ORGANIZATION.— Incorp. in London, England, in 1908, and controls
the following:
Montreal Tramways C o.,
Montreal Public Service Corp.,
Canadian Light & Power C o.,
Montreal Hydro-Elec. C o., Ltd.
Montreal Tramways Co. and Can. Lt. & Power Co. stockholders received
1K shares of M ont. Tram. & Power Co. stock for each share of their stock.
V. 94, p. 417, 207.
In March 1917 issued $5,350,000 2-year 6 % secured gold notes to refund
in part tho $7,000,000 notes duo Apr. 1 1917. V. 104, p. 1264.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
______ _ $17,560,930 ______
Stock $20,002.000_________________
Secured notes $5,850,000/ 1917
6 g A-O
$5,350,000 Apr 1 1919
gold ($1,000)----------------c*\Int. in N . Y ., Guaranty Tr. C o., Trustee.
Notes.— The notes are secured by $1,600,000 common and $6,000,000
debenture stock of the Montreal Tramways Co. and 5,333 shares of new
com. stock of the Montreal Tramways C o., upon which 10% has been paid;
remaining $500,000 notes are reserved for payment of balance due on said
shares. Red. at 100 Ys and int. on any int. date on 30 days’ notice. V. 194,
p. 1264.— V. 100, p. 734, 812, 1168; V. 104. p. 1264.
(1) M ontreal Tramways Co.
ORGANIZATION.— Chartered in 1911 and acquired by merger the
Montreal Street R y., Montreal Park & Island Ry. and Montreal Terminal
Co. (V. 93, p. 871, 1324), the last two companies being subsidiarios to the
Montreal St. Ry. V. 93, p. 1022. 1106. Owns and controls entiro street
railway system In Montreal and Island of Montreal, except about a mile o f
interurban line entering the city.
New Franchise.— In Jan. 1918 representatives of the co. and the city
signed a now franchise agreement, running for 35 years, which provides
(a) for tho creation of a permanent Tramways Commistion of three persons
with complete powers over the service, fares, finances, exts. and mainte
nance; (6 ) fixes the valuation of the existing system at $36,286,295 for the
physical property, plus an unnamed amount to be specified by the Com
mission as “ working capital,” (c) practically guarantees that the company
shall be allowed at all times to make a profit of 6 % on the total investment
thus arrived at and on such new capital as may from time to time be put in;
(d) allows the company a further remuneration of Y of 1% in each year in
which it does not exceed by more than 2
the estimated operation charge*
allowed by the Comm. In effect, the company can calculate upon 6 ^4 %
on its total investment as a guaranteed minimum earning power so long as
it is efficiently administered. The company can also look forward to a
share of all surplus profits arising after the annual payment to the city o f
$500,000 and the upkeep of certain maintenance and guarantee funds,
neither of which funds should be at all burdensome. The surplus after
these charges is to bo divided. 2 0 % to the company, 30% to the city treas
ury, and 50% to a fund for reduction of fares, which may take place when
the fund accumulates to $ 1 ,0 0 0 ,0 0 0 , and must take place whenever it
contains $2,500,000. (e) Dividend distribution is limned to 10%, the
present rate, (f) An appeal from the Comm, lies to the P. U. Comm,
of Quebec. For further details see V. 106. p. 607.
Wage Increases.— V. 106, p. 2649; V. 107, p. 501.
Fare Increase.— In June 1918 was auth. by the Montreal Tramways
Comm, to charge a 6 cent cash fare after 8 a. m ., with a 1 cent charge for
transfers, tickets to bo sold at the rate of 5 for 25 cents, with a 1 cent
charge for transfers, except from 5 to 8 a. m „ -when transfers will be free.
After midnight tho fare will bo 15 cents cash. V. 106, p. 2757. In July
1918 applied to the Quebec P. U. Comm, for auth. to charge a 7-cent cash
fare and sell 4 tickets for 25 cents with free transfers. V. 107, p. 501,603.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
----------- *$4,000,000
See text
Stock common------- ----------------------Debenture stock------------------- -------5%
16,000,000
See re*,
1st A ref mtge $75,000,000 gf J.911 _ 5 J-J
_ 16.335,000 July 1 1941
(S500&S1.0Q0) Pay in Lon Harris Tr. & Sav. Bk., Chic., Trustee. Nai
don p&i in £ = $ 4 8 6 2-3-c*
Tr. C q ., Ltd., Montroal, Co-Trustee.
Sterling deb Montreal St Ry 1893
4 Y F-A
681.333 Aug 1 1922
secured by trust deed_____ Interest at Bank of Montreal, London, Kn>
Mont St Ry deb $1,500,000 g 1902
____
4J4 g M -N 1.500.000 M ay 1 1922
(S100, $500 and $1,000)_c*\lnterest at Bank of Montreal, Montreal.
6
Mont St Ry new debentures [ 1908
4H M -N
2,238.667 May 1 1922
£460,000 (£100)-------------- |lnt. at Bank of Montreal. Montreal, Can..
I and London, England.
• Including as of June 30 1917. $605,700 unpaid and subjec: to cad.
Bonds.— Of the 1st A ref. bonds $3,273,000 are reserved to retire under
lying bonds (there being also $1,063,985 in cash deposited in addition for
this purpose). Remaining bouds are for extens. and add’ns at not exceed
ing 75% of cost under certain restrictions. Red. as entire Issue (but not
any part) at 105 and int. on any Int. date. Int. payable In N . Y ., Chic
Montreal and London. V .9 3 ,p . 1463. Listed on the N .Y ., (V .97, p.1025)
Montreal and London stock exchanges Under a trust deed. Montreal
Street Ry. debs, o f 1902 and debs, o f 1908 are of equal rank. As o f Jun*30
1917, $1,146,847 o f tho underlying bonds reported outstanding had been
redeemed and canceled.
Dividends.— On deb. stock 5% per annum since organization. InAprll.
1913 an interim div. of 5% was declared on the paid-up common capital
stock. A quar. div. of 25^% was paid Aug. 1913 (V. 96. p. 18401. and
2 M % Quar. to and incl. M ay 1918. July, 1918, div. deferred. (V. 107.
p. 291).
R E PO RT.— For fiscal year ending June 30 1917 (V. 105, p. 906):
June 30.
Gross
Net
Interest, Contingent Dies.
Balance
Year— Earnings. Earnings. Taxes. &c. Account. (10%) Surplus.
1917..........$7,725,499 $3,123,727 $2,248,373 $350,000 $337,§S1 $187,473
1916
6.609.765 2,902,712
2,118.405 275,000 323.871 185,436
1915 . . . 6.525,231 2.811,235
2.132.364 275,000 278.880 124.991
From the surplus as above in 1916-17 there was deducted $110,000 for
war tax (estimated), leaving $ 7 7 ,4 7 3 .
. „ / ’avengers carried. year end. Juno 30 1917, 179,974,549, against 158 408,o0o la 1915- I d.
ROAD.— Operates 260 miles of track. The company’s steam pow- plant is to be enlarged from 1 0 .0 0 0 h. p. to 60,000 h. p. V. 1 0 2 , p. 3 4 5
In 190-1 contract was made with the Montreal Light, Heat A Power Co
for a supply of power.
OFFICERS.— Pres., E. A. Robert; V.-Ps. , J . W . McConnell and F.
Howard Wilson; Sec., Partick Dubee; V. 107, p. 291, 501.
MONTREAL TRAM W AYS
(2) C a n a d ia n L ig h t & P o w e r C o .
ORGANIZATION.— Incorp. in Canada on June 2 1904. See descrip
tion of company’s developments in V. 91, p. 591, and V . 89. p. 848. H a.
the perpetual right to distribute and sell power and light in Montreal and
several adjacent counties. Distribution system in Montreal has been taken
over by the Montreal Public Service Corp.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock $7,000,000 ($100)....................
..............$ 6 ,0 0 0 ,0 0 0 ___________
First mortgage $6,500,0001-----5 J-J
6.500,000 ............. ..
($500 and $1,000)------------ (Royal Trust C o., Canada, Trustee.
Bonds.—-1st mtge. bonds are subj. to call all or any at 105 at company *
option. Sink. fd. began July 1 1914. Int. payable in Montreal or London.
PR O PE R TY.— Owns a new and modem hydro-electric plant at 8t.
Tlmothee, 28 miles from Montreal; present development about 30.0C0 b. o '
Ultimate development. 75,000 h. p.— V. 89, p. 848,1283; V, 91. p. 591.
(3) M o n tre a l P u b lic S e rv ice C o r p o r a t io n .
O R G A N IZ A T IO N .-—incorporated in C onnecticut. Franchises run for
47 years from Jan. 30 1906. Does both passenger and freight business
L tc C orote whfch
( ,5 ?,9’°K9) !a ow,ned ''J1 the M a n ila Icie c. R R . A
guarantee* the bonds, prln. A lnt. See V. 84, p . 226. In
a<
?rR?sRi ^ ltborl*od stock from $500,000 to $1,000,000. V . 90.
<
p. 372; V. 98. p. 1993.
Maturity.
S t l f f i S !000.000_BO_
ND_SDate‘
InteresL
" " L
, 2 ’600’99° i igpa
$537,000 se p tT T iS ii
gold (Si.uuuj
------- -- c * l New York Trust C o., trustee.
P?n^a;7T^fu
by tho Manila Elec. R R . A Ltg. Corp. Are
subject t o call after Sept. 1 1 9 2 8 and to purchase for sinking fund since
O
d rw n ^ v^ ot *860 V
“ 23A
at whIch prfce bon(ls can bo
W .0 0 0 ire .□ treasuryf ii'o?inci?'ln S& 2SSdS '
“ bSv'?.n ‘ “ “
<
133
2*0
This company (formerly the Saraguay Electric & Water Co.) has acquired
the Dominion Lt., lit. & Pow., the;St. Paul Electric Lt. & Pow. Co. and
the distribution system of tho Can. Lt. & Pow. Co. in Montreal. Control*
an established business In various important sections of the city and pro
vides a market for a large amount of the power developed by the Can.
Light & Power Co.
NIAGARA FALLS, CANADA.
N IA O A R A S T . C A T H A R . & T O R O N T O R Y .— E lec, and steam road .
ORGANIZATION.— Incorporated In Canada in 1899. A consolidation
of the Niagara Central R y., the Niagara Falls Welsey Park & Clifton Tram
way Co. and the Port Dalhousie St. Catharine’s & Thorold Electric Street
Ry. Franchise perpetual. Owns and operates Niagara St. Catharine*
A Toronto Navigation C o.; also transports freight.
Shareholders voted 1910 to make an Issue of 2d mtge. bonds at rate of
$10,000 per mile to Nat. Tr. C o., Ltd., Toronto, trustee. V. 90, p. 54,1298.
ELECTRIC RAILWAYS
134
[V o l . 107
Maturity.
Outstanding.
Date.
Interest.
STOCK AND BONDS—
$925,000 ...................
Stock $1,000,000— .............. ...........................
5 g M -N
1,098,000 Nov 1 1929
Bailway First mortgage gold 1899
($1,000) ($1,000 or £205 Int. at Canadian Bank o f Commerce, Tor
onto, and Bank of Scotland, London.
6a 8d)...............................c*
National Trust C o., Ltd., Toronto, Trustee.
Second mortgage____________ ! 1910 ----------None
----------------Navigation Co First mort-( 1903 5 g M -N
200,000 N ov 1 1929
RE PO RT.— For calondar years:
Year—
Gross.
Net.
Oth.Rev
Interest. Pref.Div. Surplus.
$198,417 $70,000 $132,795
1917................$902,393 $396,411 $4,800
416,626 5,347
200.533
70.000
151,439
1916................. 829.057
1915............... 747.180 377.361 3,454
04,886
70.000
105,930
Total surplus Dec. 31 1917 was $123,084 a ter deducting $100,000 de
preciation reserve.
5.699.542 passengers carriod In 1917, against 5.203,192 in 1916.
gage $250,000 ($1,000 or( In t.a tC a n a d Ia n B k .o fC o m .,T o ro n to & N . Y .
Latest Earnings.—
£205 9s 8d) gold________ c* (National Trust C o., Ltd.. Toronto, Trustee. $113,944. In 1917,For 3 mos. ending Mar. 31 1918, gross, $248,447: not,
gross, $216,804; net, $100,298
In 1916, gross,
Interest also at Bank o f Scotland, London.
Bonds.— Of the Railway bonds $20,000 per mile Is authorized and Issuod. $758,281; net, $373,764.
ROAD.— Operates from San Juan to Rio Piedras, 9 miles, electric.
See V. 82, p. 869. The Navigation bonds are guaranteed by the Bailway
Standard gauge. An extension of 18 miles to Caguas, which is being oper
p. & I., by endorsement. Neither issue Is subject to call.
ROAD.— Owns and operates 60.89 miles of track. Runs from Port Dal- ated by steam, moter gauge, was completed In 1908.
/ OFFICERS.— Pres., Dr. D. E. Thomson. K. C .:V .-P .. W. D. Ross,:
housie on Lake Ontario, passing through St. Catharines. Merritton, Thorold
and Niagara Falls, Ont., to Falls View, Ont. Has an extension of 18.55 miles Sec., T . A. Spoor; Gen. M gr., O. M . Sewell; Asst. Gen. M gr., F. C. Clarko,
from Thorold through Fonthill and Welland to Port Colborno; also an ex San Juan, Porto Rico.— V. 99, p. 4G3, 895, 1367; V. 100. p. 902; V. 102,
tension o f 12.21 miles from St. Catharines to Niagara-on-the-Lake. Main p. 1163; V. 104. p. 765; V. 106, p. 1901.
line has been replaced with 80-lb. rail. 49 pass, cars, 30 freight cars, 8 elec
tric locomotives, 3 electric snow plows and 19 miscellaneous cars. Also
owns two steamers. Permission to build several extensions has been
granted by the Dominion Parliament.
EARN INGS.— For year ending June 30 1914. gross. $553,765: opor.
QUEBEC RAILW AY LIGHT HEAT & POWER CO., Ltd.
sxps., $404,676: net, $149,089: charges, $114,057; surplus, $35,032. No
later statement has been furnished us.
ORGANIZATION.— Incorporated in Canada on Nov. 19 1909 as a con
solidation of the following properties (V. 89, p 1598):
OFFICERS.— Pres., D . B. Hanna, Toronto: V .-P ., J. D . Morton
Toronto: Sec., A. J. Mitchell, Toronto: Treas., L. W . Mitchell. Toronto, Quobec Ry.. Lt. & Power Co.
/Quebec Jacques Carder Electric Co.
Can.; Aud., D. J. McIntosh; Gen. M gr., E . F. Seixas, St. Catharine's. Quebec Gas Co.
Canadian Electric Light Co.
Frontenac Gas Co.
|
Quebec County Railway Co.
— V. 90, p. 54, 1296.
Those companies do an electric-light and power, gas and street railway
business in Quebec and surrounding parishes. Has contract with the
Stadacona Hydraulic Co. for supply of power. V. 94. p 1449.
Purchase by Government.— Tho Dominion Government has contracted to
OTTAW A TRACTION CO.. L T D — A holding company.
purchaso (ownership to date back to July 1 1916) the following lines: (a)
ORGANIZATION.— Incorp. Oct. 23 1913, and has acquired $1,733,600 Quebec Montmorency & Charlevoix R y., extending from St. Paul St..
Quebec, to St. Joachim, 43.2 miles; (6) Quebec & Saguenay Ry., extending
of the stock o f the Ottawa Electric Ry.
from Its junction with tho Quebec Montmorency & Charlevoix Ry. at St.
STOCK AND BONDS— Date.
Interest.
Outstanding.
Maturity.
Joachim to Nairn Falls, 62.8 miles; (c) Lotblniero & Megantic R y., extend
Btock $10,000,000 ($100)_________
Q-J
$5,200,800
See text
Dividends.— First dlv.— 1%— paid July 1 1914: same rate quar. since, ing from Lyster to St. Jean des Chaillons, about 30 miles. Tho purchase
prlco of these properties Is to be "tho value thereof as determined by the
with 1% extra in January, making 5% per annum.
OFFICERS.— Pres., T . Ahearn: V .-P ., Warren Y . Soper; Sec. & Treas., Exchequer Court of Canada; said valuo to bo the actual cost of said rail
ways, less subsidies and less depreciation, but not to exceed $4,349,000,
James D. Fraser; Aud., H. T . Burpee.— V. 106, p'. 1790; V. 107, p. 803.
exclusive of outstanding bonded Indebtedness, which is to be assumed by
the Government, but not to exceed In all $2,500,000" Ibolug tho $2,500,000
(1) Ottawa Electric R y.— A trolley road.
ORGAN IZATION .— Incorporated In 1894. Is a consolidation of the Quebec-Montmorency Ry. 1st M . 5s of 1899, due 19231. The lines are to
be operated by tho company until actual possession Is taken and tho com
Ottawa City Passenger R y. and the Ottawa Electric Street Ry.
panies must render an accounting to the Govt, from June 30 1916 until
In Nov. 1912 increased its auth. stock from $2,000,000 to $4,000,000.
Strike— Acquisition by City Suggested.— A strike lasting 2 days was ended tho properties are taken over. See V. 102, p. 2255: V. 103, p. 579: V. 104,
Aug. 15 1918. the men accepting the award of a board of conciliation, which p. 560. In 1916 the Canadian House of Commons voted to appropriate
increased their wages an avergao o f 25% . As a result of its difficulties with $4,000,000 for the purchase of tho foregoing lines. During 1917 $332,255
Sept. 6
its employees, the co. suggested that the city tako over the properties. was oxoended on tho properties and on Provision 1917 thein House re
appropriated tho remainder, $3,667,745.
is made
the Cana
V. 107, p. 803, 1004.
Fares.— Effective Aug. 31 1918, the co. abolished the sale o f reduced rate dian budget for tho fiscal year ending Mar. 31 1919 for tho sum of $3,489,
313 to bo used in the acquisition of the Quobec & Saguenay Ry.. "free and
tickets and established a straight 5-cent fare. V. 107, p. 1193.
clear of charges, incumbrances or claims,” at any public sale, prico.not to
STOCK AND BONDS—
Date.
Interest.
Outstanding.
M aturity. exceed tho abovo-montioned sum. V. 106, p. 2560.
Btock $4,000,000 (.$100)..................
Q-J
$1,876,900
See text
The Quebec Ry., Lt., lit. & Pow. Co. acquired the Quebec & Saguenay
First mortgage $500,000 gold / 1897
4 g J-J
395,000 July 5 1922 R y. Co. In 1911 through purchaso of its $2,500,000 stock aud $3,000,000
($1,000)_______________c*( Interest at company’s o fice. Trustee is 5% bonds and In turn issued Its own bonds of 1911 and 1912 shown In the
l Toronto General Trusts Corporation.
table bolow, to pay for same. V. 92. p. 882, 528. These bonds were In
Bonds.— Are not subject to call; 10% of the issuo In oxcess of $350,000 tended to provido for Quebec-Saguenay line, extending 56H miles from
must bo retired in each of the 10 years preceding maturity. $105,000 havo Capo Tourinente to Murray Bay. In Sept. 1912 construction work on this
been retired.
line was stopped because of non-payment by Saguonay Co. of claims of
Dividends.— From 1893 to 1905, 8% per annum; In 1905, 2% extra; in contractors for construction work (V. 95, p. 1040; V. 96, p. 203). Payments
1806 to 1911, Inclusive, 12% per annum; In 1912, 16H % : since, 15%.
were subsequently made but work was not resumed. The Dominion Govt,
is now proceeding with the construction of the road, and up to Aug. 20 1918
EARNINGS.— For years end. Dec. 31 (1917 report In V. 106, p. 1790):
had completed as far as Baie St. Paul. The whole line is expected to bo
Calendar
Gross
N et
Interest, Conting. Dividends Balance,
placed in operation by Dec. 1 1918.
Year—
Earnings. Earnings. Taxes,&c. Account.
(1 5 % ). Surplus.
On July 7 1917 the company was awarded $275,000 for the property
1 9 1 7 ............ $1,240,627 $535,2S9 $125,623 $110,000 $281,580 $18,086
1916............ 1.154,912 484.564 106,239 65.000
281.535 31,790 known as the Quebec Gas Co.'s land, which was expropriated by the
Federal authorities, according to a decision by the Exchequer Court.
Pass, carried In 1917, 29,347,692, against 27,033,778 in 1916.
Coupon Payments Delayed.— The interest duo June 1 1913 and Doc. 1
ROAD.— Operates 51 miles o f track in city, and to Hull, Rockliffe,
Brltannia-on-tho-Bay and Government Experimental Farm. Has a park 1913 was not paid when due and in Sept. 1914 It was announced that the
of 60 acres at Britannia-on-the-Bay. Standard gauge. Ralls, 72, 80, 94 coupons due June 1 1914 wore not paid on time, tho company following the
policy of paying the coupons at Intervals through tho throe months grace
and 115-lb. T and girder.
following tho due date. V. 99, p. 748. Subsequent coupons have been
OFFICERS.— Same as for Traction Co.— V. 107, p. 1004, 1193.
paid within tho timo limit allowed.
Int. due Dec. 1 1914 on the Quebee-Jacques Cartier Elec. 1st refdg. 5s
was defaulted. A protective committee was formed with \V. L. Hallanan,
111 Broadway, Now York City, as Secretary, and bondholders were re
quested to donoslt their bonds with the Bankers Trust C o., New York.
PONCE ELECTRIC CO.— Incorporated in New Jersoy In 1902. Owns V. 100, p. 403. Interest was subsequently paid. V. 100, p. 559. Sub
the securities of the Ponce R y. & Lt. Co., which operates the railway betwee sequent coupons have been paid to date,
Ponce and the Playa (Port) and does tho entire lighting and power business
Default Charged.— See V. 106, p. 2560.
of Ponce and the Playa. Railway franchise expires In 1961, electric-light
Fare Increase.— On June 22 1918 was auth. by the City Council to sell
franchise in 1963.
5 tickets for 25 cents and 7 workmen’s tickets for 25 cents Instead of 6 and 8
tickets, respectively, as thoretofore. V. 106, p. 2650.
8TOCK AND BONDS—
Date.
Interest.
Outstanding. Maturity
Stock $500,000 ($100)..........................................
3500.000 ...................
STOCK AND
Date.
Interest. Outstanding. Maturity.
Collateral trust first mortgage/ 1902
6 g M -N
213,000 M ay 1 1927 Stock 510.000.000BONDS—
Q-J 15 $9.999.500Jan.15 '12.1 %
($100)__________
$750,000 gold_______ c* .tf lin t, at Boston S. D. & Tr. Co., Boston, Trus. Consolidated mortgage $10,-/ 1909
5 g J-D
4.729.400 Dec. I 1939
Bonds.— Callable as a whole at 105 and int. on any Int. date. A sinking
000.000 g ($100 $500 andilnt. at Montreal Trust Co.. M ont., trustee.
fund of 1% per annum of bonds issued became operative May 1 1903 and
51.000
l Bank of Scotland, London, Eng.
Is Invested In the bonds at not more than 10714 and int. $37,000 bonds Quebec-Jacques Cartier P ow f 1901
5 J-D
849,000 Dec 1 1941
had been canceled by this fund to Doc. 31 1917.
1st ref $1,000,000 ($1,000)(Trust Co. of America, N. Y., trustee.
EARN IN G S.— For 12 months ending Dec. 31 (combined companies):
g Int. In N. Y __________c *lln t. at Royal Bank of Canada, Quebec.
Year—
Gross.
Net(aft.Tax) Interest.
Sink.Fd.
SurplusMortgages on lines to be taken over by Govt.—
1917......................$152,290
$60,762
$26,010
$2,500
$32,252
$2,500.0001 1911
5 F-A
2.356.000 Fob. I 1941
1916..................... 146,551
49,790
27,039
2,600
20,251 Quo-Sag Dlv IstM payable ln( Int. at Dominion of Can. Tr. Co., Montreal
sink fd. P & I
ROAD.— Operates 5.6 miles o f equivalent single track. .54 miles of
francs or Canadian curr.c*l Trus., or at office of II. Forgot, Paris.
trackage. 12 cars. Gauge. 1 metre. Power station has 950 k. w. capacity. Quo Ry L H & P now mtgel 1912
5 J-J
2,100,000 Jan 1 1942
60.000.000 francs(500 f r ) . . /
OFFICERS.— Pres., Frederick S. Pratt; V.-P., Francis J. Hovey;
Quebec-Montmorency Ry M ( 1899
5%
2,500,000 June 1 1923
Treas., Henry B. Sawyer: Sec., Geo. A. Peirce; Gen. Mgrs., Stone & Wdb»
old $2,500,000 ($100 $500(Int. at Bank of Montreal, Montreal, and
■ter Management Association.— V. 74 p. 268, 478.
1,000
Union Bank of Canada, Quebec.
Stock Is listed In Paris.
PORTO RICO RAILW AYS CO.. LIMITED.
Bonds.— Consol, mtge. 5s of 1909 are rod. at 105 and Int. on any Int. day
ORGANIZATION.— Incorporated In Canada Oct. 1906 and has acquired $3,659,000 of the consol, bonds are reserved to retire underlying bonds and
the San Juan Light & Transit Co. and Porto Rico Power & Light Co. and $1,611,600 are In treasury. $144,000 Quebec-Saguenay Dlv. bonds have
Caguas Tramway Co. Controls all the electric railway, electric light and been canceled.
power business o f San Juan, San Turce and Rio Piedras; also controls entire
Dividends.— Initial dlv.— 1%— paid April 15 1911: July, 1% ; Oct., 1% .
lighting systems In cities o f Comerlo, Bayamon, Catano, Carolina, Caguas, In 1912, Jan., 1%; none since.
Rio Grande, Fajardo. Humacao, Yabucoa, Gurabo, Juncos and other towns
R E PO RT.— For years ending June 30 (1918 report in V. 107. p. 1187):
In east end o f Island. Its lighting franchises in San Juan and San Turce are
Gross
Net
Misc.
Charges and Balance,
perpetual. The Comerio Water Power and Caguas Tramway franchises June 30
Year—
Earnings. Earnings. Credits.
Taxes.
Surplus.
are for 99 years from 1906. The street railway franchise runs until 1959.
$1,797,853 $562,128
$230,088 $696,910
$95,307
An express service was Inaugurated in 1908 In conjunction with Porto Itlco 1917-18........
1916-17...................... 1,832,032 676,063
230.850 706,326 200,587
Express Co.
236,869
723.447
215.403
Contract.— Has a 5-year street-lighting contract with the city o f San 1915-16...................... 1.731,732 701.981
Juan, expiring in 1919, and with about 30 other towns for various periods.
ROAD.— Owns 19.77 miles of track In Quebec. 56 and 70-lb. T rails,
STOCK AN D BONDS—
Date. Interest.
Outstanding. Maturity. gauge. 4 ft. 8W in.
Common stock $3,000,000---- ------ Q-J
$3,000,000 See text
OFFICERS.— Pres., Sir Rodolphe Forget, M . P., Montreal; V .-P r.t
Pf $1,000,000 ($100) 7% cum.
Q-J
1,000.000 Oct '18. 1M Lome C. Webster, Montreal; Sec., Arthur LeMoino, Quebec; Treas.,
First mortgage $3,000.000 f 1906
5 M -N
2,620,000 Nov 1 1936 R. A. Wilson; Gen. M gr., W. J. Lynch; Comptroller, H. K. Tennont.—
($500) g o ld ______________(Int. at Montreal Trust C o., Trustee, V. 105, p. 1705; V. 106, p. 500, 2560, 2650; V. 107. p. 182, 1005, 1187.
(Montreal and Halifax, or Metropol. Bk., Tor.
-----------t m -------------—
Refunding general mortgage/ 1912
5 M -N
£265,000 May 1 1962
£1.500,000 (£100)______c*( Int. In London, Montreal and Toronto; Mon( treal Trust Co.. Trustee.
Bonds.— First intgo. bonds are subject to call at 105. Sink. fd. of 1%
of bonds issued plus one year’s int. on canceled bonds began Nov. 1908.
SHERBROOKE RAILW AY & POWER CO.
$358,000 bonds canceled. $22,000 additional purchased for sinking
Control.— As o f March 1 1917 tho Southern Canada Power Co. acquired
fund. First Mortgago bonds are listed on Montreal and Toronto Stock
Exchango. Of refunding general Mtge. bonds $543,000 aro reserved for more than 10,000 shares o f the co.’s stock on tho basis of 4 sharos of Slior1st
• bonds and £99,250 aro In treasury; remainder for future require brooko Ry. & Power Co. stock for l share Southern Canada Power Co. 6%
ments under restrictions. Subject to call as a whole or for cum. sink preference stock, cumulative from Jan. 1920. V. 104. p. 74.
ORGANIZATION.— Iucorp. In 1910 In Quobec, Can., as successors to
ing fund (1% of bonds out beginning In 1937) at 105 and Int. V. 94, p.
1566. Are listed on Loudon Stock Exchange.
tho Sherbrooke Street Ry. In July 1911 acquired tho Eastorn Townships
Dividends.— First dlv. on prof.. \ % % . paid Jan. 10 1910, and same Elec. Co. and tho Stanstoad Elec. Co. V. 93, p. 230. Also owns the
amount quarterly since to and including Oct. 1918. On com., lstdlv., 1%, Lennoxvilo Light & Power Co. Controls major part of tho electric light
paid Oct. 1911. In 1912 and 1913, 4 % . In 1914, Jan., 1%; April, 1%: and power business In the district botwoen Sherbrooke and tho International
Boundary.
July, 1% . Nonesinco.
QUEBEC, CANADA.
OTTAWA, CANADA..
PONCE, PORTO RICO.
f
SHERBROOKE, QUEBEC.
S e p t ., 1918.J
ELECTRIC RAILWAYS
I n 1 9 1 3 a c q u ir e d th e B u r r o u g h s F a lls P o w e r C o ., w h ic h c o n t r o ls t h e e le c
t r i c li g h t a n d p o w e r b u s in e s s in A y e r s ' C l i f f , Q u e . V . 9 7 , p . 1 8 2 4 .
In 1914
a c q u ir e d th e I n t e r n a t io n a l E le c . C o . , d o in g th o e le c t r ic lig h t a n d p o w e r
b u s in e s s In D e r b y L i n e . V t . , a n d in 1 9 1 5 a c q u i r o d t h o l i g h t i n g a n d p o w e r
b u s i n e s s o f O e o . G o l e & S o n s In W a t e r v I I l e a n d C o m p t o n , Q u o b e c .
F r a n c h i s e I n S h e r b r o o k e Is f o r 4 0 y r s . , e x e m p t i n g p r o p e r t y f r o m t a x a t i o n
fo r 1st 2 0 y rs .
A t e n d o f 2 0 y r s . c it y m a y p u r c h a se s tr e e t r a ilw a y p r o p e r t y
C o n s o l, m t g e . 5s w e r e o ffe r e d w ith a 4 0 % s t o c k b o n u s .
V . 91, p . 95; V . 93,
‘ i n A u g . l 9 i 0 e n t e r e d i n t o a c o n t r a c t f o r a s u p p l y o f 2 ,0 0 0 h . p . f r o m t h e
S o u t h e r n C a n a d a P o w e r C o . . L t d . , t o b o u s e d In c o n n e c t i o n w it h Its o w n
p o w e r d e v e lo p m e n t.
D a te’
in te r e s t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 1 , 5 0 0 , 0 0 0 ( $ 1 0 0 ) _________________
__________
S I .127 000
C o n s o l. M . $ 1 ,5 0 0 ,0 0 0 g o l d / 1 9 1 0
5 g J -J
1 , 0 0 6 , 0 0 0 J u l y " ”l ~ 1 9 4 0
s f ($ 5 0 0 o r £ e q u iv a le n t) t f l M o n t r e a l T r u s t C o . . M o n t r e a l, T r u s t e e
S h e r b r o o k e S tr e e t U y 1st M t f 189 7
5 g J -J
1 0 0 0 0 0 J 'n e 3 0 1 9 2 7
C o lla t e r a l n o te s ($ 1 0 0 ,0 0 0 ) g j 1 9 1 5
7 M -S
3 2 ,5 0 0 S e p t 1 1 9 2 0
( $ 1 0 0 . $ 5 0 0 , $ 1 . 0 0 0 ) ............... l i n t , a t P r u d e n t i a l T r . C o . L t d . . M § n t .
B o n d s .— O f r e m a i n i n g c o n s o l , m t g e . b o n d s , $ 1 9 4 , 0 0 0 a r e t o r f u t u r e e x
t e n s io n s , $ 1 0 0 ,0 0 0 a re t o r o tir e S h o r . S t . R y . b o n d s , a n d $ 2 0 0 ,0 0 0 a r e
d e p o s it e d a s s e c u r it y fo r th o n o te s .
In t. a t a n y b ra n ch o f E a ste rn T o w n o f t h e C a n a d i a n B a n k o f C o m m o r c e in C a n a d a , o r a t N a t i o n a l
B a n k o r S c o t la n d , L o n d o n
E ng.
R e d . a s a w h o le a t 1 0 5 a n d ln t . o n a n y
I n t . d a y , o r In p a r t f o r s in k i n g f u n d .
C u m . s in k in g fu n d o f 1 % h e g a n
J u ly 1 1 9 1 6 .
$ 1 6 ,0 0 0 h e ld In s in k . f u n d .
T h e c o lla tO T a ln o tM a re s o u r e d
m U h T n o U c e * 2 0 0 ’ 0 0 0 C° n 3 ’ M ’ * •
T h e y a™
i n T ^ I
,,R E P O R T . — F o r y e a r n e n d . J u n e 3 0 ( l n t e r - c o . c h a r g e s e li m in a t e d In 1 9 1 6 ) :
Juv J r°—
rlm S 1
j B onA .
,
1 9 1 5 -1 6 - -$ 1 4 0 ,0 6 9
1 9 1 4 - 1 5 - 1 4 6 ,7 6 9
$ 6 8 ,3 5 0
5 5 .9 2 0
°rt h e r
$ 5 4 ^ 2 5 1 3 .8 9 9
4 9 .5 3 5
4 ,2 0 4
W r itte n
O ffic e
$ 2 7 ^ 6 &t i ' 4 2 ? '
376
1 ,7 8 0
B a la n c e .
S $ ?719
*
24
„ r^
n n - - O w n s lO M
D
m 1l o s o f t r a c k I n S h e r b r o o k e , I n c l u d i n g
e x t e n s io n t o L e n n o x v illo .
S t a n d a r d g a u g e , 7 0 - lb . T r a il.
T
•V
V . l O l ! p f 7 4 , 6 6 4 .®
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W o o d y o t t -— v - 1 0 1 , p . 9 2 4 , V . 1 0 3 , p .
1668;
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e le c t r i c r a ilw a y a n d li g h t in g b u s in e s s in S y d n e y ; t h e e n t ir e e le c t r i c li g h t in g
b u s i n e s s in N o r t h S y d n e y , t h o f e r r y b u s i n e s s b e t w e e n S y d n e y a n d N o r t h
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n Vy & <J,a.C0 l i a y B y - C o . , L t d . , a n i n t o n u r b a n l i n o 1 9 m .
I n l e n g t h b e t w o o n S y d n o y a n d G l a c o B a y , w h i c h Is o p e r a t e d u n d e r l e a s e f o r
9 9 y e a rs fr o m J a n . 1 1 9 1 1 .
G u a r , p a y m e n t o f s a i d c o . ’s b o n d s , p r i n c i p a l ,
,,U t,0J 0 S t ^ u d . 8i l l k , n g / u “ < i-I F r a n c h i s e s e x p i r e 1 9 3 1 a n d 1 9 3 2 .
„
On M ay 6
1 9 1 4 a u t h o r iz e d p r o f, s t o c k w a s In c r e a s e d fr o m $ 2 5 0 ,0 0 0 t o $ 5 0 0 ,0 0 0 .
S T O C K A N D B O N D S —D a te.
In ter es t.
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M a tu rity .
C o m m o n $ 1 , 1 2 5 , 0 0 0 ( $ 1 0 0 ) . - ____
M -N
$ 1 1 2 5 0 0 0 M a v ' 1 8 1 V.
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i aC0 B .a y .l a t
1902
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1 0 5 .0 0 0
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$ 5 0 0 ,0 0 0 g u a r a n t e e d . c . n t f l I n t . a t R o y a l T r u s t C o . . M o n t r e a l, t r u s t e e ,
s t ° c k , is r e d e e m a b l e a t 1 2 0 .
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c h a r t e r , $ 2 ,0 0 0 ,0 0 0 .
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tn © s t o c k h o l d e r s c lo t e r m in o .
B o n d s .-— O f t h e 1 s t m t g e . b o n d s . $ 2 , 0 0 0 c a n c o l e d f o r I m p t . f u n d . I m p t .
f u n d o f 1 % o f. b o n d s is s u e d .
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TORONTO, CANADA.
TH E
T O R O N T O
R Y .— A
tr o lle y
road.
, O R G A N I Z A T I O N .— I n c o r p o r a t e d I n 1 8 9 2 a n d a c q u i r e d b y p u r c h a s e t h e
o ld T o r o n t o C it y S tr e e t R a ilw a y s a n d th o e x c lu s iv e p r iv ile g e t o w o r i f s tr e e t
r a i l w a y s in t h o c i t y o f T o r o n t o f o r a t e r m o f 3 0 y e a r s f r o m S e p t . 1 1 8 9 1
( w i t h t n o e x c e p t i o n o f t w o s m a l l r e s e r v a t io n s In t h o A c t w h i c h a r e b e l i e v e d
t o b o o f n o I m p o r t a n c e ) , a p r iv ile g e w h ic h h a s s in c e b e o n r a t ifie d b y A c t o f
t h o L e g is la tu r e o f O n t a r io .
O w n s , d ir e c t ly o r In d ir e c tly , p r a c t ic a lly th o
e n tir e c a p it a l s t o c k o f th e T o r o n t o & M lm l c o R y . (n o w th e T o r o n t o P o w e r
C o ., L t d .) ; T o r o n t o & S c a r b o r o E le c . R y ., L t . & P o w . C o .; M e t r o p o lit a n
R y .; S c h o m b o r g & A u r o r a I t y .; T o r o n t o & Y o r k R a d ia l R y . ; T o r o n t o P o w e r
C o . , L t d ., E le c t r ic a l D e v e lo p m e n t C o . o f O n t a r io , L t d .; T o r o n t o & N ia g a r a
P o w e r C o .; T o r o n t o E le c t r fc L ig h t C o ., L t d .; L o n d o n E le c t r ic C o . L t d
( n o w p a r t o f T o r o n t o & N i a g a r a P o w e r C o . ) ; N i a g a r a F a l l s E l e c t r i c a l ’b r a n s < N . Y . ) a n d N ia g a r a F a lls G a s & E le c . L t . C o . ( N Y . ) .
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S to c k h o ld e r s
$ 2 ,0 0 0 ,0 0 0 o f th o s t o c k a t p a r .
V . 93 p . 230
s h a r e h o ld e r s v o t e d t o ln c r o a s e t h e s t o c k t o
f o r th Q f i n a n c i a l r e q u i r e m e n t s o f t h e c o m p a n y
a n d b e tto r m e n ts fo r th e s u b s id ia r y c o m p a n ie s .
a k G n b y th Q d l r e c t o r a a * t o d i s p o s i t i o n o f n e w s t o c k ,
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g u a r a n t e e d ................................. c * l i n t , a t B a n k o f M o n t r e a l . T o r o n t o a n d N . Y .
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fb ® c l t y $ 1 ,5 9 2 ,5 2 0 fir s t m t g e . b o n d s h a v e b e e n r e t ir e d .
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lis t e d o n L o n d o n S t o c k E x c h a n g e .
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en d orsee! by, th e T o r o n t o P o w e r C o .
T h e T o r o n t o R y . w ill p a y
$ 5 0 ,0 0 0 m o n t h ly b e g in n in g F e b . 1 1 9 1 8 , m a k in g a t o t a l o f $ 5 0 0 ,0 0 0 b e fo r e
m a t u r i t y f t o r e t ir e t h e n o t e s b y p u r c h a s e in o p e n m a r k e t a t n o t e x c e e d in g
p a r a n d in t .
V . 105. p . 2095.
T h o T o r o n t o & Y o r k R a d ia l R y . fir s t
m t g e . 5s a r e g u a r ., p r in ic ia l a n d I n te r e s t, b y th e T o r o n t o R y .
K & i vi d e ? & Z ~ tI n , 1 8 ? 8 } 4 % : l n 1 8 9 9 • 4 % : I n 1 9 0 0 , 4 % ; i n 1 9 0 1 , 4 ) 4 % ; l n
1 9 0 2 t o 1 9 0 5 , i n c l . , 5 % p e r a n n u m ; in 1 9 0 6 , 5 ) 4 % ; in 1 9 0 7 6 % ' in 1 9 0 8
6 % : i n 1 9 0 9 . 6 ) 4 % ; i n l 5 l 0 , 7 % ; i n 1 9 1 1 . J a n . 1 ^ % , A p r i i . l & % . J u l y ’.
1 ) 4 % ; in A u g . d e c la r e d a $ 1 ,0 0 0 ,0 0 0 s t o c k d iv i d e n d ( V . 9 3 . p . 4 7 0 ) : O c t
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r a ils .
O w n s 8 9 6 p a ss e n g e r c a r s , o f w h ic h 7 9 9 a r e m o t o r c a r s .
„ D E P O R T .— O f R a i l w a y C o . f o r c a l . y e a r s ( 1 9 1 7 r e p o r t i n V . 1 0 6 , p . 2 3 3 7 ) :
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. Y j ; ar—
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E a r n in g s .
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} 9 } 7 ............ $ 6 , 2 9 1 , 7 5 9
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1 9 1 7 , 1 5 8 ,0 8 7 ,9 8 4 ; t r a n s fe r s , 6 2 ,3 0 1 ,6 3 6 ; In
1 9 1 6 , r e v e n u o , 1 4 9 .5 2 9 ,7 5 4 ; t r a n s fe r s , 6 1 ,3 4 2 ,7 6 3 .
O F F I C E R S .— P r e s .,
S ir W i lli a m
6 0 l!-i4 6 2 O b1 5 7 8 .
(1 )
T oron to
&
M a c k e n z ie ;
T reaS ”
J ’ ° ’
V .-P .,
F r e d e r ic N Ich o IIs .
G race' ~ V '
10d. P-
39y
P o w e r C o .—
^ E n t i r e s t o c k is o w n e d b y T o r o n t o R y . . $ 2 ,0 0 0 ,0 0 0 d i r e c t l y a n d $ 1 .0 0 0 .0 0 0
th r o u g h a s u b sid ia r y c o m p a n y .
.
'
SYDNEY, NOVA SCOTIA.
CAPE
135
r , T ° r o a t o P o ,w ^
D o . o w n s a ll t h e $ 4 ,0 0 0 ,0 0 0 s t o c k o f t h e T o r o n t o E l e c .
Jv!g « i o n A m
$ 2 ,9 9 2 ,6 0 0 o r t h e $ 3 ,0 0 0 ,0 0 0 c o m m o n s t o c k , $ 2 ,9 8 1 ,4 0 0 o f
t h e $ 3 ,0 0 0 ,0 0 0 p r e f . s t o c k a n d $ 5 ,0 1 4 ,0 0 0 1 s t M . 5 % b o n d s o f t h e E le c t r i c a l
D e v e lo p m e n t C o .
T h e f r a n c h i s e o f t h e T o r o n t o E l e c . L t . C o . , d a t e d N o v . 1 3 1 8 8 9 , gives
th e c it y th e o p t io n o f p u r c h a s in g t h e p r o p e r t y o n N o v . 13 1 9 1 9 o n a b a s is
t o b e f ix e d b y a r b it r a t i o n , f a ll in g a g r e e m e n t a s t o p r ic e , o n o n e y e a r 's n o t i c e ,
i f o p t i o n is n o t e x o r c i s e d In 1 9 1 9 , c i t y h a s n o f u r t h e r r i g h t s o f p u r c h a s e
fo r 2 0 y e a rs .
T h e E le c t r i c a l D e v e l o p m e n t C o . 's f r a n c h is e e x t e n d s t o 1 9 5 3 .
w it h p r iv ile g e o f r e n e w a l.
i t i n e 1 9 1 6 t h e T o r o n t o E l e c . L t . C o . is s u e d $ 1 ,0 0 0 ,0 0 0 3 - y e a r 1 s t M .
0 % K o 'd b o n d s t o r e t i r e a l i k e a m o u n t o f 4 ) 4 % d e b e n t u r e s d u e J u l y 1 1 9 1 6 .
V . 102, p . 2347.
STO C K A N D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 3 , 0 0 0 , 0 0 0 ...............................................
--------------------S ee te x t
__________ ____
T o r P o w C o L td d e b s t k , s t e r l’g 1 9 0 8
4 )4 J -J
$ 6 4 9 ,7 5 0 J u ly 6 1 9 1 8
T o r P ow er C o con s d e b stock
1911
4 )4 M - N 1 5 .9 9 8 ,3 1 5
1941
$ 2 5 ,0 0 0 ,0 0 0 g u a r p & i b y B r it is h E m p ir e T r u s t G o ., L t d . , L o n d o n .
T o r o n t o R y C o $ & t _______
T ru stee.
C a lla b le a t 1 0 5 .
T o r P o w C o g u b d s $ 4 ,2 5 0 ,M 5 g J "/
v
m 4 ,0 6 8 .8 0 0 J u ly 1 1 9 2 4
0 0 0 ( $ 1 0 0 , $ 5 0 0 & $ l , 0 0 0 ) c * I n t . ln N . Y . . N a t . T r . C o . . L t d . , T o r . , t r u e .
E le c D e v e l C o $ 1 0 ,0 0 0 ,0 0 0
1 9 °3
5
_
9 .8 4 6 ,5 0 0 M a r 1 1 9 3 3
1 s t m t g e ( $ 5 0 0 ) g ................c * I n t . a t C a n . B k . o f C o m . , T o r . , N . Y . & L o n .
............................................ ..
T o r o n t o E le c L t 1 s t M $ 1 ,-J 1 9 1 6
5 g J -J
1 0 0 0 0 0 0 J u ly 1 191S
0 0 0 .0 0 0 g o ld ( $ 1 .0 0 0 ) - ! . C A I n t e r e s t p a y a b le In N . Y . a n d T o r o n t o
T h e d e b . s t o c k o f 1 9 0 8 o r t h e T o r o n t o P o w e r C o . is g u a r , u n c o n d i t i o n a l l y .
& in t ., b y T o r o n to R y . C o .
S e c u r e d b y $ 2 ,0 0 0 ,0 0 0 b o n d s a n d f o u r r ir th s o f c o m . s h a r e s o f E le c . D e v e l . C o . o f O n t a r io , L t d .
S in k , fu n d fo r
s a m e e q u a l t o o n e - t e n t h o f s t o c k is p a y a b l e a n n u a ll y . V . 8 7 , p . 2 8 6 . A m o u n t
r e d e e m e d a n d s in k , fu n d s o n h a n d , * 1 ,7 8 3 ,5 8 3 .
T o ro n to P ow er C o . bon ds
o f 1 9 1 4 a r e a ls o g u a r , u n c o n d it io n a lly , p . & I ., b y T o r o n t o R y . C o .
T hey
a r e c a lla b le a t 100 a n d in t . o n a n y in t . d a t e o n 3 m o s .’ n o t ic e .
E le c tr ic a l
D e v e l . C o . b o n d s h a v e s i n k , f u n d s w h i c h b e g a n in 1 9 1 1 o f $ 1 p e r y e a r f o r
e a c h e le c t r ic a l h . p . s o ld . V . 8 8 , p . 1 3 1 6 .
O f th e T o r . P o w . C o . c o n s . d e b .
s t o c k , $ ! 1 .0 0 0 .0 0 0 a r e r e s e r v e d t o r e t ir e lik e a m o u n t o f E l e c . D e v e l . a n d
l o r . E l e c . L t . b o n d s , a n d r e m a in d e r is f o r e x t e n s . a n d i m p t s . a t 8 0 % o f
cost.
S in k , f u n d b e g a n in 1 9 1 3 , c a lc u l a t e d t o r e t ir e w h o le o f s t o c k a t m a t u r lty a t 105.
I n t . is p a y a b l e i n L o n d o n a n d T o r o n t o . S e e V . 9 3 . p . 1 3 2 8 .
J h e T o r o n t o E l e c . L t . b o n d s a r e r e d . a s a w h o l e o r ln p a r t , b u t n o t le s s t h a n
$ 5 0 0 ,0 0 0 , a t 101 a n d in t . o n a n y in t . d a t e a ft e r J u ly 1 1 9 1 7 . V . 1 0 2 , p . 2 3 4 7 .
R E S U L T S .— O f T o r o n t o
E le c .
L t.
C o.
fo r
c a le n d a r
years:
is r y T — v
*
iO lS 4
1914.
1913.
1912.
N u m b e r o f c u s t o m e r s .................
2 5 ,8 4 4
2 5 .3 9 8
2 2 ,1 9 1
1 9 ,8 1 2
K i l o w a t t h o u r s s o l d ....................... 5 1 , 3 9 5 . 5 3 7 5 9 , 5 8 1 . 3 8 5 5 2 . 7 6 7 , 2 4 4 4 1 , 3 0 6 3 2 3
G r o s s e a r n in g s ,
..............
$ 1 ,3 2 0 ,0 8 5
$ 1 ,3 4 1 ,1 2 1 $ 1 ,2 5 0 ,5 3 7 $ 1 .1 6 8 6 7 3
N e t , a f t e r t a x e s , & c .......................
371.997
374.833
367.752
402,691
P R O P E R T Y .— L e a se s th e E le c tr ic a l D e v e l. C o .’s h y d r o -e le c t r ic p o w e r
p l a n t a t N I a g a r a F a lU . O u t ., w it h a t o t a l g e n e r a t in g c a p a c i t y o f 1 4 0 .0 0 0 h . p .
o f w h i c h 1 5 , 0 0 0 h . p . h e l d In r e s e r v e , a n d t w o t r a n s m i s s i o n l i n e s ( 4 c i r c u i t s )
in t o T o r o n t o o n p r iv a t e r ig h t o f w a y .
T h e T o r . E le c . L t . C o . o w n s a
s t e a m a u x ilia r y p o w e r p la n t o f 1 7 ,5 0 0 h . p . c a p a c i t y .— V . 9 5 , p . 3 6 4 ; V . 9 6 .
p . 42 3 ; V . 9 9 . p . 1216; V . 102, p . 2082; V . 103. p . 1987.
B R A Z IL IA N
T R A C T IO N .
L IG H T
&
PO W E R
C O ..
LTD .
, ® 2 £ , G A N J Z A T f O N ; , T r n c o r P - J u l y 1 2 1 9 1 2 ln C a n a d a w i t h $ 1 2 0 ,0 0 0 ,0 0 0
( $ 1 0 0 ) a u t h . s t o c k a n d h a s a c q u i r e d t h r o u g h e x c h a n g e o f Its s t o c k f o r s t o c k
o f t h e n e w ly a c q u ir e d c o m p a n ie s ( o n b a s is s h o w n in V . 9 5 , p . 1 7 5 ) t h e R i o
d o J a n e ir o T r a m w a y L ig h t & P o w e r C o ., S a o P a u lo T r a m w a y L ig h t &
P o w e r C o . a n d S a o P a u lo E le c . C o . , a n d t h r o u g h th e fir s t -n a m e d c o m p a n y
c o n t r o ls e n tir e c a p it a l s t o c k o f R io d e J a n e ir o & S a o P a u lo T e le p h o n e C o .
STO C K A N D N O TES—
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o f 1 1 -5 s h a r e s p r e f. s t o c k f o r 1 s h a r e o f c o m m o n .
V . 96, p
1421
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F ir s t d iv . o n c o m .—
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1 )4 7 . — p a id N o v . 1 5 1 9 1 2 .
In 1913 an d 1914. 6 % .
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4 % .
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N o n e s in c e .
b y th e c ity , se o V . 9 6 , p . 1774; V . 9 7 , p . 23 8 1664 1899.
O n T in
iiq iq
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t h e c i t i z e n s o f T o r o n t o v o t e d I n f a v o r o f t h e c i t y ’s t a k i n g o v e r t h e c o ' s
Period Covered—
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p r o p e r tie s u p o n e x p ir a t io n o f t h e fr a n c h is e a g r e e m e n t ln 1 9 2 1 .
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Y r . e n d . D o c . 31
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v . 99 , p . 1675.
* 6 % .
a 1% .
c 4% .
—
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—
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a g r e e in g t o a b o a r d o f c o n c ilia t io n , in s t e a d o f a r b it r a t io n , t o d is c u s s th e ir
„
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1917.
1917.
1916.
g r ie v a n c e s .
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1 2 ) 4 p e n c o in 1 9 1 5 , 1 2 p e n c e i n 1 9 1 6 a n d 1 2 ) 4 p e n c e i n 1 9 1 7 .
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O F F I C E R S .— C h a ir m a n o f B o a r d , S ir W illia m M a c k e n z ie ; P r e s . A le x
a t 1 0 2 ) 4 & i n t o n 3 0 d a y s . c ( l n t . p a y . In N . Y . , T o r o n t o , M o n t . & L o n d o n .
a n d e r M a c k e n z ie ; S e c ., J . M . S m ith , T o r o n t o .— V . 1 0 7 , p . 7 9 9 .
J
b
(1 ) R io d e J a n e ir o T r a m w a y , L ig h t & P o w e r C o ., L t d .
O R G A N I Z A T I O N . — I n c o r p o r a t e d u n d e r t h e la w s o f C a n a d a in J u n o
1904.
P u r c h a s e d t h o R io d e J a n e ir o G a s C o . a n d t h r e e s tr e e t r a ilw a y p r o p
e r tie s (t h e V illa I s a b e l T r a m w a y C o . , t h o S a o O h r is t o v a o T r a m w a y C o . a n d
t h e C a r r is U r b a n o s T r a m w a y C o .)
O w n s o r c o n t r o ls e n t ir e 3 5 .0 0 0 .0 0 0
c a p i t a l s t o c k o f R i o d e J a n e i r o & S a o P a u l o T e l e p h o n e C o . ( i n c o r p . in C a n
a d a in 1 9 1 6 t o c a r r y o u t t h o p la n , d e la y e d b y t h e w a r , o f a c q u ir i n g , c o n s o li
d a t in g a n d d e v e lo p in g th o te le p h o n e e n t e r p r is e s ). T h e la tte r c o . h a s a n
a u t h . is s u e o f $ 7 ,5 0 0 ,0 0 0 6 % 3 0 -y e a r c o ll , t r u s t b o n d s (p le d g e d a s c o lla t e r a l
t o th e 3 -y e a r n o te s o f th e B r a z . T r a c ., L t . & P . C o ., L t d .) , a n d h a s a c q u ir e d
a ll t h e s h a r e s o f th e fo ll o w in g c o ’s e x c e p t a fe w s h a r o s in t h e la s t t w o n a m e d :
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d o E s t a d o d e S a o P a u lo , C o m p a n h ia R e d e T e le p h o n lc a B r a g a n tiu a , th o
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H a s a ls o a c q u ir e d t h e J a c a r e p a g u a t r a m w a y lin o s
(1 1 m i l e s ) .
T h e g a s a n d e l e c t r i c - l i g h t franchise e x p i r e s 1 9 4 5 , g a s f r a n c h i s e
b e in g e x c lu s iv e u n til 1 9 4 5 a n d e le c t r ic lig h t u n til 1 9 1 5 , w it h a m o n o p o ly fo r
p u b lic lig h t in g u n t il 1 9 4 5 .
T e l e p h o n e franchise i n R i o d e J a n e i r o e x p i r e s
1 9 2 8 a n d is e x c l u s i v e ; t h e o t h e r t e l e p h o n e f r a n c h i s e s a r e p e r p e t u a l o r f o r
lo n g p e r io d s a n d a r e m a in ly e x c lu s iv e . S e e V . 8 3 , p . 2 1 4 . R io d o J a n e ir o
T r a m w a y c o n c e s s i o n s w e r e e x t e n d e d in 1 9 0 7 u n t i l 1 9 * 0 a n d g i v e e x c l u s i v e
p r i v i l e g e s u n t i l 1 9 4 0 i n v e r y l a r g o a r e a o f c i t y . Franchises f o r d i s t r i b u t i o n o f
e le c t r ic e n e r g y f o r lig h t in g a n d p o w e r s e r v ic o w e r e a ls o e x t e n d e d t o 1 9 9 0 .
C o n c e s s i o n t o d e v e l o p p o w e r is p e r p e t u a l . B o t h s t o c k a n d b o n d s a r e li s t e d
o n th o L o n d o n , B r u s se ls a n d T o r o n t o s t o c k e x c h a n g e s . V . 9 3 . p . 5 2 8 : V . 8 6 .
p . 1044; V . 8 8 , p . 507.
I n A p r il 1909 2 d M . b o n d s w e r e lis te d o n L o n d o n
S t o c k E x c h a n g e . V . 8 8 , p . S S 3 . S e e d e s c r i p t i o n o f p r o p e r t y in V . 8 7 , p . 9 7 .
O n D e c . 8 1 9 1 1 s t o c k h o ld e r s v o t e d t o I n c r o a s o a u t h . s t o c k fr o m $ 4 0 ,0 0 0 ,0 0 0
t o $ 5 0 ,0 0 0 ,0 0 0 , o f w h ic h $ 5 ,0 0 0 ,0 0 0 w a s o ffe r e d t o s t o c k h o ld e r s — 1 n o w
f° O n
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J a n ! 2 1 9 1 4 Pc r o a t e d a n a u t h . I s s u e o f £ 2 . 0 0 0 , 0 0 0 5 % G e n . M . b o n d s
u s e d a s c o lla t e r a l s e c u r it y f o r r a is in g fu n d s fo r c a p it a l r e q u ir e m e n t s
n ecessa ry.
£ 1 ,0 2 8 ,0 0 0 h a v e b e e n d e p o s it e d a s s e c u r it y f o r t h e B r a
T r a c ., L ig h t & P o w e r C o . 3 -y e a r n o te s .
M a t u r i t_ .
y
D a te .
In ter es t.
O u tsta n d in g .
STO C K A N D BO N D S—
Q -F
$ 4 5 ,0 0 0 ,0 0 0 & A b g .’ 1 8 1 4 i %
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See te x t
1963
G e n e r a l m o r t g a g e £ 2 , 0 0 0 , 0 0 0 - --------_____
5 g J -J
2 5 ,0 0 0 ,0 0 0
J a n . 1 1935
1905
F ir s t m o r t g a g e $ 2 5 ,0 0 0 ,0 0 0
($ 1 0 0 , $ 5 0 0 a n d
$ 1 ,0 0 0 ) I n t . p a y a b l e in T o r o n t o , N . Y . & L o n d o n .
N a tio n a l T r . C o ., L t d ., T o r o n t o , tru ste e .
g o l d . . ............. .............. ..............—
1908
5 A -O
8 o c o n d m o r t g a g e b o n d s (s e e
T r.
C o .,
L t d .,
T o ro n to ,
tru ste e .
to x t) (£ 1 0 0 a n d fr . 5 0 0 ) — N a t .
I n t . a t C a n . B a n k o f C o m ., L o n d o n , an d
In T o r o n t o , C a n a d a , P a r is a n d B r u s s e ls .
J a r d im
B o ta n lc o
T r a m w a y / 1 911 5 J -J
£ 1 ,4 0 0 .0 0 0 J u ly 1 1951
1st
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£ l,4 0 0 ,0 0 0 {N a t . T r u s t C o ., L t d ., T o r o n t o , C a n ., tru s to e
(£ 1 0 0 )
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I n t. a t o ffic e s o f C a n . B a n k o f C o m m e rce
l
in L o n d o n . N e w Y o r k a n d T o r o n t o .
b L e s s B r itis h I n c o m e t a x .
B a n d s . — A s i n k i n g f u n d o n 1 s t M . o f 1 % p e r a n n . o f b o n d s o u t b o g a n lr>
1910.
T h e 2 d M . d o b s , a r e s u b j e c t t o c a l l o n 3 m o s .* n o t i c e a s a w h o le o r
a n y p a r t a t 1 0 5 : a ls o s u b je c t t o s k g . f d . d r a w in g s w h ic h b e g a n t h o y e a r e n d
in g A p r . 1 1 9 1 8 ; £ 4 3 ,6 0 0 r o t ir e d b y s in k in g f u n d .
A u t h . is s u e o f 2 d M .
b o n d s is l i m i t e d , b u t b o n d s m a y b o i s s u e d t o p a r v a l u e o f b o n d s o f 3 s u b
s id ia r y c o s . o u t A p r . 1 1 9 0 8 u p o n d e p o s it o f s a id s e c u r itie s w it h tr u s te e .
V . 92, p. 596, 726.
J a r d i m B o t a n i c o 1 s t M . b o n d s a r o r e d . a t 1 023-5 a n d
in t . o n 3 m o s .’ n o t ic e .
S in k in g fu n d b e g in s in 1 9 1 2 .
B o n d s a r o lis t e d o n
L o n d o n S tock E x ch a n g e.
V . 93, p . 1786.
R io d o J a n e ir o T r a m ., L ig h t
& P o w e r C o . , L t d ., u n d e r ta k e s t o p u t a s id e s e m i-a n n u a lly a s u m s u ffic ie n t
t o m e e t in t . a n d s k . fd . o n J a r d im B o t a n lc o b o n d s ; V . 9 3 , p . 5 2 8 .
D iv id e n d s .— F ir s t d i v . . 1 % , p a id N o v . 1 9 0 9 : In
a n d s in c e t o a n d ln c l. A u g . 1 9 1 8 , 5 % p e r a n n u m .
E A R N I N O S .— E a r n in g s a r o
L ig h t & P o w e r C o . s t a te m e n t.
now
I n c lu d e d
In
1910, 4 4 4 % th e
B r a z ilia n
In
1911
T r a c tio n
R O A D A N D P L A N T . — O p e r a t e s 2 4 2 .2 8 m ile s o f t r a c k in b u s in e s s a n d
r e s id e n t ia l s e c t io n o f c i t y a n d a d jo i n in g d is t r ic t s , ln c l . s c e n ic r o a d , 2 .4 5 m ..
o w n in g a h o te l o n C o r c o v a d o M o u n t a in .
H a s 968 p assen ger, an d 201
fr e ig h t a n d 2 s e r v ic e c a r s a n d 3 lo c o m o t iv e s .
C a p a c it y o f p o w o r s ta t io n s ,
8 4 ,0 0 0
h. p.
C o m p a n y w a s s u p p ly in g o n D e c . 31 1 9 1 7 t o C it y o f R io d e
J a n e i r o a n d v i c i n i t y 1 0 1 , 5 7 6 h . p . in m o t o r s , 9 , 0 6 6 a r c l a m p s , 8 8 9 , 4 8 0 i n
c a n d e s c e n t la m p s .
O n D e c . 3 1 1 9 1 7 h a d 3 9 ,7 1 1 t e le p h o n e s in s e r v ic e .
G as
s a le s in 1 9 1 7 , 3 4 ,2 1 6 ,9 0 0 c u b ic m e t r e s .
O n D e c . 3 1 1 9 1 7 h a d 5 8 ,2 8 3 lig h t
a n d p ow er con su m ers.
P a s s e n g e r s c a r r ie d in 1 9 1 7 , 2 0 7 ,9 2 5 ,0 3 4 , a g a in s t
1 9 8 ,6 7 7 ,9 7 5 in 1 9 1 6 .
O F F I C E R S . — C h a ir m a n o f B o a r d , S ir W i lli a m M a c k e n z ie ; P r e s ., A l e x
a n d e r M a c k e n z ie ; S e c ., J . M . S m ith ; G o n . M g r ., O . A . S y lv e s t e r .
M a in
o ffic e . 3 6 T o r o n t o S t .. T o r o n t o .— V . 9 4 , p . 1 2 4 7 , 1 7 6 4 ; V . 9 6 . p . 1 2 9 8 .
(2) The Sao Paulo Tramway, Light & Power Co., Ltd.
O R G A N I Z A T I O N . — I n c o r p o r a t e d in t h e P r o v i n c e o f O n t a r io , C a n a d a ,
In 1 8 9 9 a n d o w n s a n e x t e n s iv e s y s t e m o f e l e c t r i c r o a d s a n d e l e c t r i c - l i g h t i n g
a n d p o w e r b u s in e s s in S a o P a u lo , B r a z i l.
S t o c k a n d b o n d s w e re lis te d o n
L o n d o n S t o c k E x c h a n g e in J u ly 1 9 0 5 .
V . 81, p. 614.
In N o v . 1906
a u t h o r iz e d s t o c k w a s in c r e a s e d f r o m $ 7 ,5 0 0 ,0 0 0 t o $ 8 ,5 0 0 ,0 0 0 ( V . 8 3 , p .
1 2 3 0 ), a n d s t o c k h o ld e r s w e r e o ffe r e d t h o $ 1 ,0 0 0 ,0 0 0 n e w s t o c k a t p a r .
S ee V . 83, p . 412.
I n 1 9 0 7 p u r c h a s e d S a n ta A n a R y ., a n a r r o w -g a u g e
m u le lin e , w h ic h h a s b e e n e le c t r ifie d .
C o m p a n y h a s s e c u r e d a n e x c lu s iv e
3 0 -y e a r c o n c e s s io n f o r d is t r ib u t io n o f li g h t a n d p o w e r in m u n ic ip a lit y
or S a o B e r n a r d o . O n D e c . 2 7 1 9 0 7 s h a r e h o l d e r s i n c r e a s e d a u t h o r i z e d
s t o c k fr o m $ 8 ,5 0 0 ,0 0 0 t o $ 1 0 ,0 0 0 ,0 0 0 .
V . 86, p. 53.
O n J a n . 2 1 9 1 4 c r e a t e d a n a u t h . is s u e o f £ 1 ,0 0 0 .0 0 0 5 % G e n . M . b o n d s
t o b e u s e d a s c o lla te r a l s e c u r it y fo r r a is in g fu n d s fo r c a p it a l r e q u ir e m e n ts
w h en n ecessary.
£ 5 1 4 ,0 0 0 h a v e b e e n d e p o s it e d a s s e c u r it y f o r t h e B r a z ilia n
T r a c ., L ig h t & P o w o r C o . 3 -y e a r n o te s .
STO C K A N D BO N D S—
D a te . In ter es t.
O u tsta n d in g .
M a tu rity .
S t o c k $ 1 0 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ........................ Q -F
$ 1 0 ,0 0 0 ,0 0 0 6 A u g .’ 18 2 4 4 %
P e r p e t u a l c o n s o l d e b e n t u r e / _____
M -S 2
£ 8 2 1 ,9 1 7
P o rp e tu a l
s t o c k I s s u e d F e b 1 9 1 1 _______ ( I n t e r e s t p a y a b l e i n L o n d o n a n d T o r o n t o .
G e n e r a l M o r t g a g e £ 1 , 0 0 0 . 0 0 0 ..............
5%
See te x t
1963
F ir s t
m ortg a g e
$ 6 ,0 0 0 ,0 0 0 / 1 9 0 0 5 g J -D
$ 6 ,0 0 0 ,0 0 0 J u n e 1 19 2 9
g o l d ( $ 5 0 0 ) - - ........................... c * \ N a t i o n a l T r u s t C o . , L t d . , T o r o n t o , t r u s t e e .
6
L ess
B r itis h
In com e ta x .
S t o c k . — P e r p e t u a l d e b . s t o c k Is r o d e e m . a t 1 0 5 o n 6 m o s . ’ n o t i c e . T r u s t e e s
a re B r itis h E m p ir e T r . C o ., L t d ., L o n d o n , a n d N a t . T r . C o ., L t d ., T o r o n t o .
S t o c k Is l i s t e d o n L o n d o n S t o c k E x c h a n g e .
V . 94, p . 1250.
B o n d s . — I n t e r e s t Is p a y a b l e a t t h e C a n a d i a n B a n k o f C o m m e r c e I n L o n
d o n , E n g la n d , a n d N a t . T r u s t C o ., L t d ., T o r o n t o , O n t.
N o s in k in g fu n d
a n d b o n d s a re n o t s u b je c t t o c a ll.
D i v i d e n d s — I n 1 9 0 2 , 3 4 4 % ; In 1 9 0 3 , 5 4 4 % : i n 1 9 0 4 . 7 4 4 % j i n 1 9 0 5 , 8 % ;
in 1 9 0 6 , 8 % ; in 1 9 0 7 , 8 4 4 % ; in 1 9 0 8 . 9 4 4 % ; In 1 9 0 9 t o 1 9 1 1 l n c l . , 1 0 % : in
1 9 1 2 , J a n .. 2 4 4 % ; A p r il, 2 4 4 % : J u ly , 2 4 4 % : O c t ., p a id 5 - 6 % f o r m o n t h
o f J u l y , 1 9 1 2 , In a c c o r d a n c e w it h p la n o f
a m a lg a m a tio n ; N o v ., 2 4 4 % .
In 1 9 1 3 a n d s in c e t o a n d ln c l. A u g . 1 9 1 8 , 1 0 % p o r a n n u m .
E A R N I N G S .— I n c lu d o d
in
th e
B r a z ilia n
T r a c tio n
s ta tom on t.
R O A D . — O p e r a t e s 1 4 3 .3 7 m . o f t r a c k , a ll in c i t y o f S a o P a u l o : 3 5 2 p a s
s e n g e r a n d 9 5 fr e ig h t c a r s .
P a s se n g e r s c a r r ie d d u r in g 1 9 1 7 , 5 8 ,6 1 9 ,7 5 8 ,
a g a i n s t 5 5 ,1 5 4 ,5 6 -1 in 1 9 1 6 .
O n D e c . 3 1 1 9 1 7 s u p p lie d 3 7 4 ,4 7 9 in c a n
d e s c e n t la m p s a n d 5 1 5 p u b lic a r c la m p s a n d 4 4 ,6 1 4 h . p . in m o t o r s , a n d h a d
3 5 ,6 8 8
lig h t a n d p o w e r c o n s u m e r s .
•
•
O F F I C E R S .— C h a ir m a n o f B o a r d -, S ir W illia m M a c k e n z ie ; P r e s ., A le x
a n d e r M a c k e n z ie ; S e c ., J . M . S m it h , a ll o f T o r o n t o ; M g r ., W . G . M c O o n n e l, S a o P a u lo .— V . 9 4 , p . 8 2 7 , 1 1 8 7 , 1 2 4 3 . 1 2 5 0 , 1 7 6 4 ; V . 9 5 , p . 6 8 1 .
(3 )
[V o l . 10 7.
ELECTRIC RAILWAYS
136
Sao Paulo Blectric Co., Ltd.
B o n d s . — R e d . b y a s i n k i n g f u n d b e g i n n i n g i n 1 9 2 2 , In a n n u a l d r a w i n g s a t
p a r , o r m a y b e r e d . a t 1 0 3 a t a n y t im e o n 6 m o n t h s ’ n o t ic e , o r a t p a r o n
v o lu n t a r y liq u id a t io n o r a m a lg a m a t io n w it h a n o t h e r c o m p a n y .
T h o B ra
z ilia n T r a c ., L . & P . C o . a g r e e s t o s e t a s id e s .- a . o u t o f t h e g r o s s e a r n in g s o f
th e S a o P a u lo E le c . C o . a s u m s u ffic ie n t t o m e e t t h o I n t. a n d s in k in g fu n d ,
a n d in c a s e th o e a r n in g s s h o u ld b e in s u ffic i e n t , t o m e e t t h e s a m e fr o m its o w n
reven u es.
I n t . p a y a b l e in L o n o n , N . Y . , T o r o n t o , B r u s s o ls a n d B a s le ,
a n d a t C a n a d ia n B a n k o f C o m m e r c e o r its a g e n c ie s .
L is te d o n L o n d o n
S tock E xch a n g e.
V . 9 5, p . 1043; V . 96, p . 65.
P R O P E R T Y . — H y d r o - e le c t r i c p la n t o f 3 0 ,0 0 0 k . w . w it h a n u lt im a t e
c a p a c i t y o f 5 0 ,0 0 0 k . w . , w a s c o m p le t e d a n d p la c e d In o p e r a t io n d u r in g
1914.
n a s a c o n t r a c t t o s u p p ly th e S a o P a u lo T r a m ., L ig h t & P o w e r C o .
w i t h 1 5 ,0 0 0 h . p . a n d s u p p li e s e l e c t r i c l i g h t a n d p o w e r In S o r o c a b a , 5 3
m ilo s fr o m S a o P a u lo , a n d t o t h e n e ig h b o r in g t o w n s o f S a o R o q u e , U n a .
R o d o v a lh o a n d M a y r in k .
A l s o o p e r a t e s 33-5 m i l o s o f t r a c k i n S o r o c a b a :
6 cars.
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WINNIPEG, MANITOBA.
W IN N IP E G E L E C T R IC R Y .
O R G A N I Z A T I O N . — I n c o r p o r a t e d In M a n i t o b a in 1 9 0 4 a n d is a c o n s o l i
d a tio n o f th e W in n ip e g E le c t r ic S t . R y . a n d th e W in n ip e g G e n e r a l P o w e r
C o.
C o n t r o ls S u b u r b a n R a p id T r a n s it C o . a n d W i n n ip e g S e lk ir k & L a k e
W in n ip e g R y ., a n d g u a r a n te e s b o n d s o f t h o s e c o m p a n ie s , p r ln . a n d In t.
V . 86, p . 1346; V . 101, p . 1466.
O p e r a te s t h o e n t ir e s t r e o t r a ilw a y a n d g a s
b u s in e s s In W i n n ip e g , t h e s t r e o t r a il w a y in S t . B o n lM c e , a n d d o e s t h e la r g e s t
p a r t o f t h e e lo c t r l c li g h t a n d p o w o r b u s in e s s in t h o s e c it i e s a n d v i c i n i t y .
Franchises e i t h e r p o r p e t u a l o r f o r l o n g t e r r a s a n d s t r e o t r a i l w a y f r a n c h i s e is
e x c l u s i v e i n W i n n i p e g u n t i l 1 9 2 7 a n d in S t . B o n i f a c e u n t i l 1 9 4 3 .
C ity o f
W i n n i p e g m a y p u r c h a s e t h e p r o p e r t y in 1 9 2 7 u p o n 6 m o s .* n o t i c e a t it s
p h y s ic a l v a lu a t io n (ln c l. c o s t o f p a v in g d o n e b y c o . ) , t o b o d e te r m in e d b y
a r b itr a tio n ; a ft e r 1 9 2 7 c i t y m a y e x e r c is e r ig h t t o p u r c h a s e a t th o e n d o f e a c h
s u c c e e d in g 5 -y e a r p e r io d o n 1 y e a r ’ s n o t ic e .
.
In O c t . 1 9 1 3 J u d g e R o b s o n , t h o P . U . C o n im is s io n e r a t W in n ip e g , d o n le d
t h o a p p l ic a t io n o f t h e m u n ic ip a l p o w e r p la n t o f W i n n ip e g t o s e ll c u r r e n t
m S t. B o n ifa c e w ith o u t th e c o n s e n t o f th e la tte r c it y .
I t w a s h e ld t h a t
th e W in n ip e g E le c t r ic R y . s u p p llo d S t . B o n ifa c e w it h c u r r e n t s a t is fa c t o r
ily .
V . 97. p . 1288.
Jitney Competition Abolished.— I n A p r i l 1 9 1 8 t h e c i t y a u t h o r i t i e s v o t e d
t o a b o lis h j i t n e y s o r v ic e , t h u s r e m o v i n g t h is f o r m o f c o m p e t i t i o n a g a in s t
th e c o .
STO C K A N D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu r ity .
S t o c k $ 1 0 , 0 0 0 , 0 0 0 ( $ 1 0 0 ) ...........................
Q -J
$ 9 ,0 0 0 ,0 0 0
Seo tex t
£ 5 ,2 2 2 ,4 0 0 A p r il
1958
P e r p e t u a l d e b e n t u r e s t o c k ____ / ______
4 44 A - O 2
£ 9 0 0 ,0 0 0
See tox t
(B r it is h E m p ir e T r u s t C o ., L o n d o n , T r u s t o e .
F ir s t r e fu n d in g M $ 5 ,0 0 0 ,0 0 0 / 1 9 0 5
6 8 J -J
$ 4 ,0 0 0 ,0 0 0 J a n . 2 1 9 3 5
g o ld s in k fu n d ( $ 1 ,0 0 0 ) — c * l I n t . a t B a n k o f M o n t r e a l, M o n t r e a l & N . Y .
1917
6 g J -J 15
7 5 0 ,0 0 0 J a n . 1 5 1 9 1 9
N o t e s $ 1 ,5 0 0 ,0 0 0 ( $ 1 ,0 0 0 ) r e d
C e n tra l T r u s t C o ., N . Y ., tru ste e .
In t. a t
a t 10214 o n a n y In t. d a y
B a n k o f M o n t r e a l , in N . Y . o r T o r o n t o &
o n 3 0 d a y s ' n o t i c e __________ c
In L o n d o n , E n g . , i n s t e r l i n g o r p a r o f e x c h .
1898
5 g J -J
1 ,0 0 0 ,0 0 0 J a n . 1 1 9 2 7
W in E l S t R y m t g e $ 1 ,0 0 0 ,In te r e st a t B a n k o f M o n tr e a l. M o n tr e a l.
0 0 0 .($ 5 0 0 )
--------------------1 ,4 4 6 ,0 0 0
-----------------------N o t e s p a y a b l e D e c . 3 1 1 9 1 7 - - --------♦ P a y a b le t o b a n k e r s , p a r t ly s e c u r e d b y u n d e r ly in g b o n d s .
S t o c k . — T h e d e b e n t u r e s t o c k i s r e p a y a b l e a t n o f i x e d d a t e , b u t Is s u b j e c t
t o c a ll a t 1 0 5 a n d in te r e s t. V . 8 8 , p . 6 2 6 .
L is te d o n L o n d o n S to c k E x
change.
V . 9 1 . p . 1448.
B o n d s .— O r t h o $ 5 ,0 0 0 ,0 0 0 1 s t r e f u n d , b o n d s , $ 8 7 7 ,5 0 0 a r o r o s o r v e d t o
r e t ir e t h o f ir s t 5 s a n d $ 1 2 2 ,5 0 0 a r e in s in k in g f u n d . T h o R o y a l T r u s t C o . ,
M o n t r e a l , is t r u s t o e .
T h e n e w b o n d s a re n o t s u b je c t t o c a ll, b u t 1 4 4 %
o f b o n d s o u t s t a n d i n g Is p a y a b l e t o a s i n k i n g f u n d f r o m 1 9 1 5 t o 1 9 2 4 ,
in c lu s iv e , a n d 2 % fr o m 1 9 2 5 t o 1 9 3 4 , in c lu s iv e .
See V . 79, p . 2698.
The
n o t e s a r e s e c u r o d b y d e p o s it o f £ 4 0 0 ,0 0 0 ( a p p r o x im a t e ly $ 1 ,9 5 0 ,0 0 0 )
W in n ip e g E le c . R y . 4 4 4 % p e r p e tu a l c o n s o l, d e b . s t o c k .
D iv id e n d s .— P a id 2 * 4 % q u a r t e r ly f r o m A p r il 1 9 0 8 t o A p r il 1 9 1 1 .
In
J u ly r a to w a s In cre a se d t o 3 % q u a r ., w h ic h a m o u n t w a s p a id t o a n d ln c l.
J a n . 1 9 1 5 : in A p r il, J u ly a n d O c t . 1 9 1 5 , 2 4 4 % e a c h .
I n 1 9 1 6 , J a n ., 2 %
N o n e p a id s in c e .
R E P O R T . — F o r y e a r s e n d in g D e c . 3 1 (1 9 1 7 r e p o r t in Y . 1 0 6 , p . 2 6 4 6 ) .
Y ea r—
G ross.
N e t.
C h a rges.
D iv id e n d s .
B a la n c e .
1 9 1 7 _______$ 3 , 3 8 6 , 8 8 6
$ 1 , 2 4 3 , 3 7 4 $ 1 , 1 5 0 , 7 9 5 — ...........................
s u r .$ 9 2 ,5 7 9
1 9 1 6 ______ 3 , 3 3 7 , 1 8 0
1 ,3 9 8 ,1 3 9
9 5 2 , 8 8 7 ...................................
s u r . 4 4 5 .2 5 2
1 9 1 5 ______ 3 . 4 9 9 , 7 4 6
1 ,2 5 5 .1 9 1
7 7 4 ,1 9 7 (9 4 4 )$ 8 5 5 ,0 0 0
d e f . 3 7 4 ,0 0 8
P a s s e n g o r s c a r r ie d in 1 9 1 7 , 5 3 ,9 3 3 ,5 3 2 , a g a in s t 5 4 ,8 4 5 ,7 3 9 in 1 9 1 6 .
R O A D . — O p e r a t e s 1 7 2 .1 4 8 m ile s o f t r a c k , in c l u d i n g S u b u r b a n R a p id
T r a n s it C o . a n d W in n ip e g S e lk ir k & L a k e W in n ip e g R y .
H as 335 m otor
c a r s a n d 3 7 t r a ilo r s .
C o m p l e t e d In 1 9 0 7 a 3 0 .0 0 0 h . p . w a t e r - p o w e r p l a n t .
I n s t a l l e d a 1 2 ,0 0 0 h . p . s t e a m t u r b i n e a u x i l i a r y p l a n t In 1 9 1 1 , w h i c h g i v o s
t h e c o m p a n y a n a u x ilia r y s t e a m p la n t c a p a c it y o f 2 0 ,0 0 0 h .p .
O F F I C E R S . — P r e s ., S ir W illia m M a c k e n z ie , T o r o n t o ; V . - P . , S ir A u g u s
tu s N a n t o n , W in n ip e g ; S e c . & T r e a s ., F . M o r t o n M o r s e , W in n ip e g ; G e n .
M g r ., A . W . M c L im o n t .— V . 1 0 6 , p . 1 2 3 2 , 1 4 6 2 , 1 9 0 2 , 2 6 4 6 .
(1 )
S u bu rban
R a p id
T r a n s it
C o.
O R G A N I Z A T I O N . — O r g a n i z e d in 1 9 0 2 In M a n i t o b a .
C h a rte r g iv e s
c o m p a n y r ig h t t o o p e r a t e t h e t e le p h o n e a n d t e le g r a p h lin e s a n d t o d is p o s e
F r a n c h is e , 3 5 y e a r s f r o m 1 9 0 2 a n d is
o f e le c t r ic lig h t , h e a t a n d p o w e r .
e x c lu siv e .
W in n ip e g E le c t r ic R y . c o n t r o ls r o a d th r o u g h o w n e r s h ip o f
stock .
STO C K A N D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu r ity .
S t o c k $ 1 0 0 , 0 0 0 ........................... — , ...........................................S ee te x t
-----------------------F ir s t m o r t g a g e ($ 1 ,0 0 0 ) g -C * T 1 9 0 3
5 F -A
$ 5 0 0 ,0 0 0 J a n . 3 1 1 9 3 8
G u a ra n te e d .p r in c ip a l a n d /R o y a l T r u s t C o ., M o n tr e a l, tru s te e .
In te re st, b y W in n ip e g E le c - In te r e s t a t B a n k o f M o n t r e a l, M o n t r e a l,
tr ie R y .
I
T o r o n to , N e w Y o r k o r L o n d o n , E n g la n d .
B o n d s .— A d d i t i o n a l b o n d s m a y b e I s s u e d a t r a t e o f n o t e x c e e d in g $ 2 0 ,0 0 0
p e r m ile a d d it io n a l r o a d b u ilt .
E A R N IN G S .
F o r c a le n d a r y e a r , 1 9 1 7 , g r o s s , $ 1 3 9 ,3 1 6 : n o t , $ 1 0 ,9 2 1 ;
c h a r g e s , $ 3 1 ,9 4 1 ; d e f ic it , $ 2 1 ,0 1 9 .
I n 1 9 1 6 , g r o s s . $ 8 2 ,5 3 9 ; n o t , $ 5 ,0 4 7
c h a r g e s , $ 3 2 ,5 5 4 ; d e f i c i t , S 2 7 .5 0 7 .
R O A D . — E m b r a c e s 2 1 .0 2 1 m ile s o f t r a c k f r o m W i n n ip e g t o H o a d ln g l y o n
th e n o r t h s id e o f A s s ln ib o ln e R iv e r a n d b e y o n d t h e C i t y P a r k On t h e s o u t h
s id e o f r iv e r .
V . 8 6 , p . 1345.
(2 )
W in n ip e g
S e lk ir k
&
L a k e W in n ip e g
R y.
O R G A N I Z A T I O N .— I n c o r p . b y A c t o f M a n it o b a L e g is la tu r e w it h
p o w o r t o d o a s te a m o r e le c t r ic r a ilw a y a n d a lig h tin g a n d p o w e r b u s in e s s .
C o n t r o lle d th r o u g h o w n e r s h ip o f $ 4 9 0 ,0 0 0 o f Its $ 5 0 0 ,0 0 0 s t o c k b y t h o
W in n ip e g E le c t r ic R y .
F r a n c h is e s r u n t o 1 9 3 9 a n d 1 9 4 2 .
H a s c o n t r a c t fo r p o w e r w it h W in n ip e g E le c . R y . r u n n in g t o M a y 3 1 1 9 2 5 .
A ls o h a s c o n t r a c t s w it h S e lk ir k t o s u p p ly p o w o r fo r m u n ic ip a l p u r p o s e s a n d
w it h S t o n o w a ll t o d o a g e n e r a l lig h t a n d p o w o r b u s ln o s s .
B O N D S—
D a le.
In ter es t.
O u ts ta n d in g .
M a tu rity .
G e n M & r e f b o n d s $ 1 ,4 0 0 ,0 0 0 / 1 9 1 5
5 J -J
$ 1 ,0 0 0 ,0 0 0 J u ly 1 1 9 2 5
g ($ 1 0 0 , $ 5 0 0 , $ 1 ,0 0 0 ) .c * & r ( N a t io n a l T r u s t C o . , L t d ., T o r o n t o , t r u s te e .
P r i o r l i e n — _____ — ............................ .. . . . .
6%
4 0 0 ,0 0 0
1933
$ 3 3 5 ,0 0 0 p r io r H en b o n d s h a v e b e e n e x c h a n g e d f o r G o a . M . & R e f . b o n d s .
B o n d s .— O f t h e b o n d s r e p o r t e d o u t s t a n d i n g , $ 7 4 6 ,8 0 0 a r o p le d g e d a s c o l
la te r a l fo r lo a n s t o t h e W in n ip e g E lo c t r l c R y .
R e m a in in g $ 4 0 0 ,0 0 0 G e n .
M .
& R e f . b o n d s a r e r e s e r v e d t o r e tir e t h e u n d e r ly in g Iss u e .
G u a r . , p . 8t 1 ..
(e n d .) b y t h o W ln n ip o g E le c . R y .
S i n k , f u n d or 2 % o f b o n d s o u t s t a n d i n g
p lu s I n t . o n b o n d s in f u n d w ill r e t ir e 2 5 % o f Iss u e b y m a t u r it y . I n t . p a y a b l e
a t B a n k o f M o n t r e a l , W i n n i p e g . T o r o n t o , M o n t r o a l , N e w Y o r k a n d (I n
s t e r lin g a t p a r o f e x c h a n g e ) L o n d o n . R o d . , a ll o r p a r t , a t 1 0 3 a n d I n t e r e s t .
O R G A N I Z A T I O N , & c .— I n c o r p . In 1 9 1 0 .
S t o c k is s u e d , $ 5 ,0 0 0 ,0 0 0
H a s a c q u ir e d w a t o r p o w e r s a n d fr a n c h is e s f o r t h e u t iliz a t io n a n d s a le o f
e le c t r ic p o w o r th r o u g n th e S ta te o f S a o P a u lo .
E A R N I N G S .— F o r c a le n d a r y e a r 1 9 1 7 , g r o s s , $ 1 6 2 ,9 7 9 ; n o t , $ 5 1 ,5 9 7 ;
c h a r g e s , $ 4 0 ,3 6 5 ; s u r p lu s , $ 1 1 ,2 3 1 .
I n 1 9 1 6 . g r o s s , $ 1 4 4 ,1 7 0 ; n o t , $ 5 5 ,0 0 1 ;
c h a r g e s , $ 4 9 ,5 4 4 ; s u r p lu s , $ 5 ,4 5 7 .
STO C K A N D B O N D S—
D a te .
In ter es t.
O u tsta n d in g .
M a tu rity
S t o c k $ 1 0 , 0 0 0 , 0 0 0 ............................................................................... $ 5 , 0 0 0 , 0 0 0
...............................
F ir s t m t g e £ 2 ,0 0 0 ,0 0 0 ( £ 5 0 0 ./ 1 9 1 2
5 J -J
£ 2 ,0 0 0 .0 0 0 J a n
11962
£ 1 0 0 , £ 2 0 ) _____________________ ( N a t i o n a l T r u s t C o . , L t d . , o f T o r o n t o , t r u s t .
R O A D .— O p era tes
S e lk ir k , 2 2 4 4 m ilo s ,
c h u r c h t o S to n e w a ll,
V . 101, p . 924. 1466;
a lin e fr o m W in n ip e g o n w e s t s id e o f R e d R iv e r t o
w ltn a b r a n c h o n p r iv a t e r ig h t o f w a y fr o m M id d le 1 7 4 4 m i l o s ( p l a c e d in o p e r a t i o n J a n . 1 1 9 1 5 ) , 3 9 c a r s .
V . 106. p . 2012.
Se p t ., 1918.]
137
ELECTRIC RAILWAYS
N E W COM PANIES.
The following furnishes a reference to the volume and page of the ‘ ‘Chroniole’ ’ where information oan be found oonoernIng a number of companies not represented in this issue of the Eleotrio^Railway Section.
These are ohiefly either newly
organized companies the affairs of whioh have not yet advanced sufficiently far to wan*ant the presentation of a regular
statement regarding them, or else companies from which it has not been found possible to secure full returns.
A b e r d e e n ( S o . D a k .) R R .
V . 102, p . 162.
A b ile n e (T e x .) S t r e e t R y .
V . 105, p . 2182.
A lg ie r s R y . & L ig h t in g C o ., N e w O r le a n s , L a .
V . 103, p . 238.
A lto n & J a c k s o n v ille R y .
V . 101, P . 692; V . 105, P . 1800, 2454.
A lt o n J a c k s o n v . & P e o r ia R y . V . 9 8 . p . 1 1 5 4 . 1 6 9 1 ; V . 9 9 . p . 1831
A lto n & N o r th e r n R R .
V . 98m P . 1691.
A lt o o n a (P a .) N o r t h e r n R R .
V . 97, p . 1114.
A r d m o r e (O k la .) S t r e e t R y .
V . 102, p . 885, 1625; V . 103. p . 144.
A t la n t a & C a r o lin a (E le c tr ic ) R y .
99, p . 118; V . 103, p . 319.
A t la n t a & M a c o n R y .
V . 95. p. 290, 61X
„
— ,
B a h ia T r a m w a y , L ig h t & P o w e r C o . V . 9 7 . p . 1 8 9 7 ; V . 1 0 4 . p . 1 6 2 .
B a r c e lo n a T r a c ., L t . & P o . C o ., L t d .
V . 1 0 6 , p . 2 4 4 9 ,2 6 4 8 .
B e e c h Q r o v e (I n d .) T r a c t io n C o .
V . 106. P -1 8 8 .
B e r w ic k & N e s c o p e c k S t r e e t R y .
V . 98. p . 761.
B ig P o u r E le c t r ic R y . (C a l.) .
V . 98. p . 1765.
B illin g s (M o n t .) R a ilw a y , L ig h t & P o w e r C o .
V . 104, p . 2235.
B o is e (I d a h o ) R R ., L t d .
V . 105, p . 180. 715, 1801.
B o s to n & E a ste rn R R .
V . 9 8 . p . 154
B r a n t fo r d (O u t .) M u n ic ip a l R y s .
V . 9 8 , P - 9 9 9 ; V .1 0 6 , p .2 4 4 9 .
B r is to l & N o r fo lk S tr e e t R y .
V . 103. p . 60; V . 105. p . 605.
B r itis h C o lu m b ia E le c tr ic R y .
V . 106, p . 1036: V . 107, p . 401.
B r u n s w ic k T e r m in a l & R y . S e c .
V . 100, p . 644; V . 106. p . 1796.
H r v a n (T e x .) & C e n t r a l I n t e r u r b a n R y .
V. 100, p . 472.
C a ld w e ll (I d a h o ) T r a c t io n C o .
V . 105, p . 908.
C a lifo r n ia E a s te rn & N o r th e r n R R .
V . 105, p . 290.
C a m a g u e y (C u b a ) C o ., L td .
V . 102. p . 152; V . 103, p . 144.
C a r o lin a T r a c t io n C o . (R o c k H ill, S . C .) .
V . 106, p . 394.
C a s s v i l l o & W e s t e r n R y .V . 95. p. 235.
C a t s k ill (N . Y .) T r a c t io n C o .
VT 9 2 , p . 9 5 5 ; V . 1 0 5 . P . 1 5 2 2 , 2 0 9 3 .
C e n t r e & C le a r fie ld S t. R y ., P h ilip s b u r g , P a .
V . 105, p . 1998.
C h e b o y g a n , M ic h ., E le c t r ic L ig h t & P o w e r C o .
V . 95. p . 1683.
C h ic a g o F ox L a k e & L a k e G e n e v a R R .
V. 95. o . 1402.
C h i l l i c o t h c & C a m p S h e r m a n E le c . R y .
V . 107, p . 82.
C it y E le c t r ic C o ., A lb u q u e r q u e . N . M .
V . 101, p . 2071.
C la r k s v ille (T e n n .) & D u n b a r C a v e R y .
V . 101. p . 1972.
C le b u r n e T r a c t io n C o .
V . 100, p. 229, 900, 1872; V . 102, p . 975.
C le v e la n d I n t e r u r b a n R R .
V . 99. p . 406'
C le v e la n d & O h io C e n t r a l E le c t r ic R y .
V . 101. p . 369. 448. 614.
C le v e la n d (O .) R a p id T r a n . R y . V
99. p
1528. 1832. 1909.
C le v e la n d & S h a r o n R a p id T r a n s it C o . V . 10 3 , p . 2 3 4 0 .
C le v e la n d & Y o u n g s t o w n R R .
V . 105, p . 1418; V . 100, p . 2450.
C o lu m b ia & M o n t o u r E le c t r ic R y .
V . 101, p . 1370; V . 105, p . 606.
C o lu m b u s K e n t o n & T o le d o T r a c t io n C o .
V . 95. p. 297.
C o lu m b u s U r b a n a & W e s te r n R y . V . 9 8 . p . 38 6 ; V . 9 9 . D. 1214.
C o r p u s C h r ls t l S tr e e t & I n t e r u r b a n R y .
V . 98. p . 1071.
C r e s t o n ( la .) W in t e r s e t & D e s M o in e s R R .
V . 95. p . 1607.
C u m b e r la n d E le c t r ic R y .
V . 107, p . 695.
D a lla s N o r t h w e s t e r n T r a c t io n C o .
V . 105, p . 1522.
D a lla s S o u t h w e s t e r n T r a c t io n C o .
V . 105. p . 1419, 1522, 1617.
D a n v ille (V a .) T r a c . & P o w e r C o .
V . 9 5 . p . 749
D e d h a m (M a s s .) & F r a n k l in S t . R y .
V 98. p . 1608.
,
D e la w a r e & M a r y la n d T r a c t io n S e c u r it ie s C o .
V
104, p . 2451.
D e lta L ig h t & T r a c t io n C o .
V . 9 8 . p . 1844.
D e m e r a r a E le c t r ic C o ., L t d .. H a lifa x .
V . 101. p . 212. 923.
D e tr o it P o n t ia c & O w o s s o R y .
V . 101, p . 1370: V . 107, p . 695.
D i x o n (111.) R o c k F a l l s & S o u t h w e s t e r n R y .
V . 97. p . 298.
D o m in io n T r a c t io n & L t g . C o ., L t d .. T o r o n t o . V . 1 0 0 , p . 1 7 5 1 . 1917.
E a stern T o x a s T r a c tio n C o .
V . 96. p . 359. 1422.
E le c t r ic P r o p e r t ie s C o r p . (N . Y .)
V . 98. P . 526.
i E le c t r ic S h o r t L in e R y ., M in n e a p o lis .
V . 100. p . 1832
E p h ra ta & L e b a n o n S t. R y .
V . 9 7 . p . 1583, 1732: V . 9 9 . p . 608.
E r ie C a m b r i d g e U n i o n & C o r r y R y .
V . 97, p . 1583.
E r ie & C e n t r a l P e n n s y l v a n i a R y .
V . 9 8 . p . 1156, 1228: V . 9 7 . p . 1733
E r ie S o u t h e r n R y .
v . 97, p . 1583.
F a y e t t e v ille (N . C .) L ig h t & . P o w e r C o .
V . 97 . p . 1822.
P o r t S c o t t & N e v a d a L t .. H t .. W . & P . C o .
V . 95. p. 820.
P ort W a y n e & N orth w estern R y .
V . 96. p . 1228: V . 9 8 , p . 522. 911.
F resn o
H a n fo r d
&
S u m m it
Lake
In te ru rb a n .
V .9 8 , p . 155
F resn o In te ru rb a n R y .
V . 102. p . 251. 1540. 1626: V . 103. p . 685.
F r o n t ie r E le c t r ic R y l. B u ffa lo , N . Y .
V . 106, p . 1344, 1900.
G a ry & H o b a r t T r a c tio n C o .
V . 104. p . 1701.
G a ry & S o u th e r n T r a c tio n C o .
V . 104, p . 1387.
G ea ry S treet P a rk & O cea n R R .
V
98 , p . 1920.
G le n d a le (C a l.) & M o n t r o s e R y .
V . 103. p . 578.
G o ld s b o r o (N . C .) T r a c t io n C o .
V . 97, p . 237. 521. 728.
H o c k ln g -S u n d a y C re e k T r a c t io n .
V .9 7 . p . 1426; V . 9 9 . p . 808.
•
H o r n e ll (N . Y .) T r a c t io n C o .
V . 105. p . 1309, 2272.
H o u sto n & T ex a s C e n tra l R R .
V . 97. p . 1203.
In d ep en d en ce N eodesh a
T opeka R y.
V . 97, p. 299.
I n d ia n a p o lis C h ic a g o & M e r id ia n R y .
V . 95 p. 480.
I n t e r m o u n t a in R y .. L ig h t & P o w e r C o . ( o f C o lo .) .
V . 105, p . 1617.
I n t e r n a t io n a l T r a n s it C o .
V . 9 3 .0 .8 8 9 : V . 9 8 . p . 1844.
I n t e r - S t a t e P u b li c S e r v . C o .^ V . 9 6 , p . 1 1 5 7 , 1 7 0 1 ; V . 1 0 6 , p . 1 9 0 1 .
I r w ln -H e r m in ie (P a .) T r a c . C o .
V tffc. p
1?45
J a m e s t o w n W e s t f i e l d 6c N o r t h w e s t e r n R R .
V . 106, p . 2345.
K a n k a k e e (ill.) E le c tr ic R y .
V . 81, p . 725; V . 107, p . 1004.
K a n k a k e e U rb a n a T r a c tio n C o .
V . 99, p . 467; V . 105, p . 1104.
L n c o n ib c & B lin d m a n V a lle y E le c . R y .
V . 9 9 , p . 1597: V . 104. p . 2235.
L a k e E r ie B o w l i n g G r e e n & N a p o l e o n E le c . R y .
V . 106. p. 396.
L a k e E r ie & N o r t h e r n R y .
V . 9 9 . p . 1451, 1910; V . 105, p . 1898.
L a k e E r ie & Y o u n g s t o w n R y .
V . 9 6 , p .2 8 5 ; V . 9 7 . p 4 4 3 .
L a n ca ste r & S o u th e rn S treet R y .
V . 103. p . 320. 666
L e w ls to n -C la r k s to n T r a n s it C o .
V . 1 0 0 . p . 1438^
L im a -H o n e o y e E le c t r ic L ig h t & R R .
V . 100. p . 2167: V . 101, p . 2145
l.l m n - H o n e o v e F a lls L ig h t & R R .
V . 0 9 . p . 1332: V . 102 P 599
Lincoln (III.) Ry. & Light Co. V _ ._..... jJ . 4 0 7 . 1 7 4 8 .
. . 9 9 ... — -----Little Falls (N. Y.) & Johnstown RR. V. 95. p. 111. 1123.
London (Can.) & Port Stanley Ry. V. 101. p. 815.
Loramie & Minster (O.) Electric R R . V. 97. p. 299.
Los Angeles & San Diego Beach Ry. V. 105, P - 1 9 9 9 ; V. !07, p. 1101.
Martinez (Cal.) & Concord Interurban Ry. V. 103, p. 493, 844.
Medfield & Medway Street Ry. V. 97. p. 443.
Menominee & Marinette Light & Trac. Co. V. 99. p. 120.
Meriden Middletown & Guilford (Conn.) Electric Ry. V. 104. p. 559.
Mexican Light & Power. Ltd. V. 94. p. 1623; V. 99. p. 891.
M e x ic o
( M o .)
S a n ta
Fe & P erry
T r a c tio n .
V . 96. p . 1229. 1489.
M e x ic o T r a m w a y s C o .
V . 103, p . 938. 1592. 2078; V . 105. P - 389.
M id la n d V a lle y R R .
V . 103. p . 1032; V . 105, p . 181.
Milwaukee Western Electric Ry. V. 102, p. 888; V. 104. p. 1045.
Minneapolis Anoka & Cayunai Range RR. V. 101, p. 449.
MonU?2“ (i S M T y ? t l . h t s Power.
A
604: T. 102. p. 437.
Morgantown & Wheeling Ry. V. 106, ] i£ i4, 2011p\
Alountain Lake Electric RR. V .106. P. 1797.
Mount Vernon (O.) Electric St. R y . V. 104, P-1489, V. 106. p. 86.
Muscatine (la.) & I o w a C i t y Ry. V. 101, p. 1714.
Newark & Marion Ry. (N. Y.). V. 101. p. 370.
M n iy R r u n s w i c k
P o w e r C o*
V • 104, p , 952.
New Orleans & Orand Isle Traction. Light & Power. V. 95. p. 618.
New York & North Jersey Rapid Transit Co. V. 95. p. 298.
New York Westchester & Connecticut Traction Co. V. 98. p. 1761.
North Alabama Traction Co. V. 100. p. 309.
North Branch Transit Co. V. 101. p. 1371. 1718.
Northumberland Countv Traction Co. V. 105, P. 2185; V 106 p. 396.
Norton Taunton & Attleboro Street Ry. V. 105, p. 290. 2366.
■
■
—
V .. 9 9 , p- . 1 6 7 5 ; V . 1 0 5 , p . 1 8 9 8 .
N- o r w o o d- C a n t o n &~ S" h a r o n S~t . R y- .
.
—
. n O g d e n s b u r g (N . Y .) S t r e e t R y .
V . 103, p . 494.
2 3 li; V . 105. p . 607, 2273
Ohio Service Co. V. 99. p. 1533; V. 103,
Oklahoma Union Railway.
V. 104. p. 8c_.
C o.
V . 106, p.1462.
Parkersburg (W. Va.) & Ohio Valley Elec. Ry.
O r ie a n s -K e n n e r T r a c t io n
Pelham Park R y .
V. 9 3 . P. 1669;
V. 106, p. 608.
V . 9 5 . P. 48.
Penn Yan & Lake Shore Ry. v v.99’ .pPlioenlxville Valley Forge & Strafford Electric Ry. V. 101. D. 1014.
Piedmont Railway & Electric. V. 105* p* 2185.
Plymouth ( A S & S a n d w i c h St. Ry. V .9 6 , p. 1490; V. 106, p. 1901.
Portland & Oregon City Ry. V. 101. p. 2072. V. 104, p. 257.
Pottstown & Phoenixville Ry. V. 105. p. .1105; V. 106. p. 500.
Public Service Co. of Oklahoma. V. 98. p. 1773.
P u e b la
T ra m w a v . L t. &
Pow . C o.
V . 95, p . 1473, 1684.
Rallway & Light Securities Co. (Boston). V. 105, p. 47; V. 106 p. 500.
Richmond (Va.) & Rappahannock River Ry. y . 107. p’ 1193<
Rlclimond (Va.) & Seven Pines Ry. V. 106. p. 191.
Rochester-Corning-Elmlra Trac. Co. V. ®§vP*v^76. V. 97. o. 1427.
Rockford (III.) City Traction. V. 67. p. 105: V. 107, p. 604.
Sacramento Valley Electric RR. V. 95. p. 680.
St. Francois County Ry.. Farmington . Mo. V - 9 1 .0 . 519; V. 95. p. 237,
St. John (N. B.) Ry. V. 102. p. 1061; V. 104. p. 560. 864. 953.
St. Louis East Side Belt Line Terminal Ry. V. 103. P. 939.
St. Louis, Lakewood & Grant Park Electric Ry. . V- 106. P- 1901.
St. Paul Southern Electric Ry. V. 105. p. 1420, 1523, V. 106, p. 1231.
St. Tammany & N e w O r l e a n s Rys. & Ferry Co V. 101. p. 775.
San !(w Terminal R y . V 9 4 , „ A ° n5
San Diego & Southeastern. Ry- P . \ 1120, ’ V . 2995=^bn»6,i?-«397, 1231‘
*>
9 5 , p. 1208, 1 3 3 3 .
Santiago (Cu ba’ ^ e / . Lt. & Trac. Co. Y. 98 P. 1157; V. 106. P. 1037.
Sapulpa (Okla.) & Interurban Ry. V. 103. p. 1033. V. 104. P-164.
Sharon (Mass.) Canton & Norwood Street Ry. V. 105. p. 2095.
Shenandoah Traction Co. V.
p- W
.02; »
v
n 1K7S
Sioux City (la.) Crystal Lake & Home Electric Ry. V. 106. p. 1578.
Southeastern Ohio Ry. (^*.n‘’ *v,*,0w°A) Q
Southern Illinois & St. Louis Ry. V. 98. p. 388.
Southern OffiCOfl IfflCtlOfl
McdlOrdt Or©# V. 101, P« 214*
Southern Traction Co. (Bowling Oreen, Ky.). V. i06, p. 297.
Southern Traction Co. of Illinois. V. 99. p. 1452, V. 103. p. 939.
“ *
•
1888
TiffinU^ steH aS&
UEaste?S r £ V .106 p. 403: v ! 107.' p! SO 1102.
S.’
Tttii«vllle (Pa ) Traction Co. V. 99, p. 271, 1911, V. 10o, p. 716.
T oron to l u b S V b i n ^ ^ V .^ S . p 409.P1192; V 100. p. 399.
Tmn* St AVarv's Traction Co.. Mich. V. 104, p. 114o.
'I'renton'(N. J.) Lakewood & Seacoast Ry. V. 106, p. 1345, 1462.
Trinidad Electric Co.. Ltd., Port of Spain. B. W. I. V^106. P-1462.
W
m s
K
S
r t 1! ?
WashinLton Ele'ahc Ry. v f '96. p. 555? V* io6 p. 1902.
Washington & Oreat Fal1* ^.yv PR^,er
^SOg489'
Washington Spa Springs & Gretta RR. V . 101. p. 1808.
177.
Washington. Westminster & 5 r^ y?-bur8:vR w W 2012 .'
e
0 _V . 100. p. 2012
ift
Waukegan Rockford & Elgin Trac. Co.
W
«
y
c
T
p
*
7
(
Q
^
S
Wichita-Walnut Valley (Kan.) Interurb.
Wlllapa Electric C o . V . ) 7 . o . 1 4 3 5 .
W is c o n s in
In teru rb a n
G E N E R A L IN D EX .
P age.
b e r d e e n ( S o . D a k . ) R R ------------------------------------------1 3 7
b ile n o (T e x a s ) S tr e e t
---1 3 7
A d a m s t o w n & M o lin s v lllo E le c t r ic B y . — S e e
B e a d i n g T r a n s i t h L i g h t C o . — - — . . ---------1 0 9
A k ro n W a d sw o rth & W estern B y .— S ee N o r t h .
O h i o T r a c t . & L i g h t C o -------- ---------------------------------2
A l a b a m a C i t y G a d s d o n & A t t a l l a S t . B y ----------- 4 5
A la b a m a T r a c ., L t . & P .— S e e “ H a llw a y &
In d u s tr ia l” 8 e c t io n .
.
_
„
„
A la m e d a O a k P a r k & P ie d . E l.— S e e S a n F r a n .
O a k l a n d T o r m l n a l B y s ----------,—
----------------- 8 8
A lb a n y B y .— S e e U n ite d T r a c t io n ( A l b a n y ) . .
2
A l b a n y S o u t h e r n B i t __________________________________
3
A l b l a L i g h t Sc R a i l w a y ...................- - - - - - - ....................
3
A l f r . L t . & 1‘ o w o r C o . — S e e A t l . S h . B y --------------6 7
A lg ie r s R y . & L t g . C o . . N e w O r le a n s
.
137
A lle g h e n y & B e lle v u e — S ee P o d . S t. & P i . V . . 1 0 1
A lle g h e n y H o llo . & P o r r y s v i lle R y — - — — - . 1 0 1
A llo g h o n y C o . L t . C o .— S o o D u q u o s n e L t . C o . 1 0 3
A lle g h e n y S t .— S e e F e d e r a l S t . « P le a s . V a l - . l O l
A l l o g h e n y T r a c t i o n .......... ............................. - - - - - - - - - - 1 0 2
A lle g h e n y V a lle y S tr e o t R y .— S eo W e s t P e im
R a i l w a y s ..............................................................— — — . 1 0 3
A lle n to w n B r id g e O
— S ee L e h . V a l. T r a n .O o .
3
A llo n t o w n E l. L . & P .— S e e L e h . V a l. T r a n . .
3
A lle n to w n &
K u t z t o w n .— S eo A llo n to w n &
4
R e a d i n g .......... ...............
A llo n t o w n & H e a d in g T r a c t io n C o . — - - — —
4
A lle n t o w n & S la t in g t o n — S o o L e h lg h V a l. T r a n .
3
A llo n t o w n B r id g e C o . — S o e L e h ig h V a l. T r . C o .
3
A llia n c e E le c t r ic B y . — S e o S ta r k E le c . R l t —
4
A lt o n G r a n ite & S t . L . T r a c . C o .— S e e E a s t S t .
L o u i s & S u b u r b a n C o _________________________________41
A l t o n J a c k s o n v i l l e & P e o r i a _________________________ 1 3 7
A l t o n & J a c k s o n v i l l e R y _____ ________
137
T. 99.
s s s a r , s T ® iii?c.L '
.
K
Page
A l t o n & N o r t h e r n R R .......... ...............
.....1 3 7
A lto n B y . G a s & E le c . L t .— S oe E a s t S t. L o u is
& S u b u r b a n C o ______________________________
41
A lto n R y . & i l l . — S oo E . S t. L o u is & S u b . C o . 41
A l t o o n a & L o g a n V a l l e y E l e c t r i c R y ----------------9 3
A l t o o n a N o r t h e r n R I t ............................
137
A m e r i c a n C i t i e s C o ______________________________________ 7 7
A m e r i c a n R a i l w a y s C o ---------------- — --------A m e s b u ry & H a m p to n — S eo N . n a m . E l. B y . 6 2
A n a c o s tla & P o t o m a c R iv e r R R . — S e e W a s h .
B y . & E l e c t r i c ..................................
; , - - 1 27
A n d e rso n W a te r , L ig h t & P o w e r C o .— S ee
S o u t h e r n P u b l i c U t i l i t i e s C o ------------------------------------ 2 4
V n d r o s c o g g i n E l e c t r i c C o --------------------------------------- - 1 0 7
A n n i s t o n E l e c t r i c & G a s C o ____________________________ ®
A n n a p o lis
P u b lic
U t ilitie s C o . — S e o W a s h .
B a f t . & A n n a p o l i s .................................................................1 2 8
A r d m o r e ( O k l a . ) S t r e e t B y ----------- ---------------------------\
A r d m o r e S t r e e t R y .....................................................................f g 2
A r k a n s a n V a l l e y I n t e r u r b a n R y --------------------------------1 2 9
A rk a n sa s V a lle y B y . L ig h t & P o w . C o . . . — -1 0 8
A s b u r y P a r k & S e a G ir t R l t . - S ee A tla n t ic
C o a s t E l o c t r i c R y --------------------- -- — — — - - - 5
A s h a w a y & W e s t e r ly R y . C o .— S e e S h o r e L in e
E l e c t r i c R y .................................................. ----------------------,*
A s h o v illo E le c t r ic C o .— S o e A s h e v ille P o w . &
L i g h t C o ..................................
108
A s h e v i l l e P o w o r & L i g h t C o .......... ....................
108
A s h la n d ( W i s .) L ig h t , P o w o r & S t r e e t B y . —
S o o I r o n w o o d & B e s s e m e r R y . & L t . C o ---------5 4
A s h t a b u l a R a p i d T r a n s i t ------------------------------------------5
A t c h i s o n B y . , L i g h t & P o w o r ------------------------------------ 2 1
A t h e n s R a i l w a y « E l o c t r l c l C o ------------------------------------ 0 6
A th o l & O ra n ge S t, B y .— S ee N o rth e rn M a s s,
S t r e e t B y ........................................................................................ 6 0
R y.
t
e
R y.
w
t
V ’ IS 5 *p 1803106, p . 823.
V . 105, p . 182, 717.
Page
A t l a n t a & C a r o l i n a B y . - .................. - ................. - - - 1 3 7
A tla n ta C o n s o l. 8 t . B B . — S e e G a . R y . & E l —
6
A tla n ta G a s L ig h t C o .— S e e G a . R y . & E l e c . .
6
A tla n ta & M a c o n B y . . . - . - - - - - - - - - - - - - - - - 1 3 7
A t la n t a N o r t h e r n R y . — S e e G a . B y . & E l. G o .
6
A tla n ta S t . R R . — S e e G a . R y . & E le c . C o „ —
6
A t l a n t a W a t e r Sc E l e c . P o w . C o . — S e e G a . B y .
& P o w e r O o _______________________________ — -------------- . 5
A tla n tic A v e . R R . — S e c B k l y n . R a p id T r a n . . 1 3
A tla n tic C it y & O c e a n C it y C o .— S e e A t la n t ic
C i t y & S h o r e O o --------------------------------------------- --— 6
A t l a n t i c C i t y & O c e a n C i t y R R .— S e e A t l a n t i c
C i t y & O c e a n C i t y C o ---------------- --------------------------6
6
A t l a n t i c C i t y & S h o r e C o ................- - - - - - - - - - - A t la n t ic C it y & S h o r e R R . — S e e A t la n t i c C it y
& S h o r e C o ________ ____ - __________ • ------------------------A t la n t ic & S u b u r b a n R y . — S e e A t la n t i c C it y &
S h o r e C o _______________________________________________
£
A t l a n t i c C o a s t E l e c t r i c R y . . -------- -5
A t la n t ic C o a s t E le c . L t . C o .— S e e A t la n t ic
C o a s t E l e c t r i c R y .......... ..............- - - - - - — — —
5
A t la n t ic S h o r e L in e R y . — S e e A t l . S h o r e R y „ 5 7
A tla n tic 8 h o r e R y . . . —
— —
57
A u b u r n & N o r th e r n E le c . R R . — S e e E m p ir e
S t a t e R a i l r o a d C o r p o r a t i o n ---------------------------------- 1 2 4
A u b u r n & S y r a c u s e E l e c t r i c R R — — --------- — . 1 2 5
A u g . & A ik e n R y . — S e e A u g u s t a -A ik e n R y .
8
& E l e c t r i c _______________- — ---------------------------------------A u g u s t a - A l k e n R y . & E l e c . C o — — ------ ---- -------6
A u g u s ta ( M e .) H a llo w e ll & G a r d in e r R R . —
S e e L e w i s t o n A u g u s t a & W a t e r v .......... ..............1 0 6
A u g u s ta (G a .) R y . & E le c . C o .— S e e A u g u s ta
A i k e n B y . & E l e c ----------------------------------------------- — 6.
A u g u sta
W in th r o p
&
G a r d in e r
R y .— See
L e w i s t o n A u g u s t a & W a t e r v i i l e S t . B y ---------1 0 6 .
138
Aurora ElgInIA C hicago___________________
Aurora Plainfield A Joliet R y ___________
Austin (Texas) Stroet R y
INDEX TO RAILWAYS
25
55
Brunswick Terminal & Railway Sec____ __
137
Brunswick T ra c.— See Public Service R y _____ 72
Brunswick Sc Yarmouth R y .— See Lewiston
Augusta & W atervllle Street Rv
- .1 0 6
Bryan (Tex.) Sc Central Inter. R y _____
137
Bucks C ounty Interurban R y .— See Ponnsylvanla-N ew Jersey R y __________________87
B uffalo Bellevue & Lancaster R y .— See Inter
national T raction________________________ _ 13
B uffalo & Depew R y ___________
_"
13
B uffalo Dunkirk & Western R R .— See Buffalo
Sc Lake Erie T raction C o __________ ____
17
Buffalo Gardonville Sc Ebenezer R y .— Seo
Buffalo Southern R y _ _ __________________ _ 13
Buffalo Ham. & A u r.R y .— See B uff.South R y " 18
B uffalo Sc Lackawanna Traction C o _________ 18
B uffalo & Lake Erie Traction C o ___________ __ 17
B uffalo Lockport Sc Rochester R y ___________ .1 1 2
Buffalo Sc Lockport St. Iiy .— Seo Inter. T ra c. 18
Buffalo Sc Niagara Falls Electric R y .— Soo In
ternational T raction________________________ 18
Buffalo R y .— Soe International T ra ction _______ 18
B uffalo Southern R y _________________________ 13
B uffalo Tonawanda & Niagara Falls Electric
R R .— See International T r a c t io n .. _
18
Buffalo T raction.— See International Traction 18
Buffalo A Wllllamsville Electric R y .
18
" ' " 71
Burlington Elec. L t. & P o w ......... ....
Burlington C ounty R y .— Soo Burl. C o T r a n !. 68
Burlington C ounty Transit C o . . _ _
68
Burlington Gas Light C o .— Seo South Jersey
Gas, Electric AJTractlon C o __________
71
Burlington (Iowa) R y. Sc Light C o _______ __
19
Burlington (V t.) T raction...........................
19
Butler Railways C o _____________________ .
19
Butte Electric R y ______________________ 19
[Vol. 107
C h i c a g o C i t y R y _______________
25
C h i c a g o C o n s . T r a c t i o n — S e e O h l c a g o 'R y s
28
C h ic a g o A; D e s p la ln e s V a l .— S eo A m . R y s . C o . 9 2
O n tc a g o E le v a te d R a ilw a y s _
27
C h ic a g o F o x L a k e & L a k e G e n e v a !”
137
C h i c a g o Sc I n t e r u r b a n T r a c t i o n ____
26
C h i c a g o A J o l i e t E l e c . R R _____
92
C h i c a g o J u n c t i o n R R __________
28
C h ic a g o L a k e S h ore & S o u th B en d R y
66
C h i c a g o N o r t h S h o r e Sc M i l w a u k e e R R ,'”
26
C h i c a g o Sc O a k P a r k E l e v a t e d R y .
2.8
C h i c a g o O t t a w a & P e o r ia R y _________
C h i c a g o R a i l w a y s C o __________ ____ I . I I I I I ' I I I " 2 6
C h i c a g o S o u t h B e n d Sc N o r t h e r n I n d i a n a I t y " l 2 2
C h i c a g o S u r f a c e l i n e s _____ ___
25
C h i c a g o U n i o n T r a c t i o n — S e e d h l c . 'R y 's '. 'C o ”
26
C h i c a g o A W e s t T o w n s R y ____
07
C h i c a g o * W e s t . — S e e C h i c . C i t y " A O o 'n .'R y 's ! 2 5
C h illic o th e & C a m p S h e rm a n E le c tr ic R y . _ 1 3 2
C h i p p e w a V a i l . R y . L t . Sc P o w . — S e e W i s c o n s i n - M i n n . L t . Sc P o w . C o ____
50
C h o c t a w P o w e r Sc L i g h t C o _________________I I I ! " 6 3
C h r is tia n a
Sc C o a t o s v l l l e S t r e e t " " f t y".— S e e
L a n c a s t e r C o . R y . Sc L t . C o . _
r.n
C h r i s t o p h e r Sc T e n t h S t s . R R .
70
C i n c i n n a t i Sc C o l u m b u s T r a c t i o n C o l
29
C i n c i n n a t i C o v i n g t o n Sc K r l a n g e r .— S o e ' c i n c l n n a t l N e w p o r t Sc C o v i n g t o n __________
35
C i n c i n n a t i Sc D a y t o n T r a c . C o . — S e e 'o l n c l n " n a t i D a y t o n & T o l e d o T r a c t i o n C o ......................3 4
C i n c i n n a t i Sc D a y t o n T r a c t i o n C o
34
C i n c i n n a t i G e o r g e t o w n Sc P o r t s m o u t h R R ”
29
C i n c i n n a t i Sc H a m i l t o n T r a c t i o n C o
30
O
n . A H a m . T r a c t . C o .— S e e O h io T r a c t . C o l 2 9
O I n d n n a t i L a w r e n c e b u r g A A u r . E le c . S t . R R . 2 9
C in c in n a ti M ilfo r d A L o v e la n d T r a c tio n
29
C in c in n a ti N e w p o r t A C o v in g to n L t .A T r .O o I I 3 5
C in c in n a ti S tr e e t R y . .
on
C in c in n a t i T r a c tio n C o . . .
" on
O j n . A W e s t w ’d R R . — S e e I n d l A O l n l T r a c . ' d o I 5 4
O ln n a m la s o n E le c . L ig h t P o w e r A H e a tin g C o
o f R i v e r t o n N . J _____
71
C i t i e s S e r v ic e C o _______________ I . I I I I I I I I ”
ak
0 * J '* eJ 1,’ E l e c t r i c C o . — S e e S o m e r s e t U n l o n 'A
ns
M id d le s e x L ig h tin g C o .
71
C itiz e n s ’ E le c . L ig h t , H e a t A P o w e r !” ”
70
C t lz e n s E l . S t . R v — S e e N o w H u m p . E l . Ity a 5 2
C itiz e n s
G a s A E le c . C o .— S e e U n io n R y .
G a s A E l e c . C o ______________________________________
40
C i t i z e n s ’ P a s s . R y . — S e e H a r r is b u r g R y s ___ I 5 2
C itiz e n s P a s s .J i y ., N o r r is to w n — Soo S c h u y l
R a d o n A St. L . R R .— See United R ys. C o . . .1 1 4
*“*ahla Tram w ay, Light & Power C o _______
137
Bakersfield A Kern E lec. R y .— See San
Joaquin L t. & Pow . C orp ______ __
44
Baltimore A Annapolis Short Line— See M a ry
land Electric R ys___________ __
Baltimore Oatonsvillo A ElHcott’s M ills Pass".
R R .— See United R ys. & Elec. C o ______
Baltimore Halethorpe A Elkrldge R y ______ __
Baltimore & Northern E lectric R y .— See
United R ys. & E lec. C o ___________
B alt. Sparrows Point A Chesapeake R y
.
Baltimore Torm . C o .— See Wash. Balt. A A n n "l28
Baltimore T raction— See United Rys. A Elec.
Baltimore A Washington Transit— See W ash
ington A M aryland R y ___________________ 128
115
Bamberger Electric R R _____________________
Bangor Power C o .— Seo Bangor R y . & El
“
Bangor R y . A Electric C o______ __
.
Barcelona Traction, Light & Power C o . .
137
Bar Harbor El. L t. C o.— Seo Bangor R y . & El.
Bar Harbor Sc Union R lvor Pow er C o.— See
Bangor R y . A El. C o _________
7
Barre A M ontpelior T rac. A P ow .— See Mo'ntpeller Sc Barre Light A Pow er_________
8
Bartlesville (Okla.) Interurban R y __________ I 86
B ath St. R y .— See Lewiston A ug. A W aterv._106
Baton Rouge Electric C o _____________________ 8
B ay C ity Gas C o .— See M ichigan L lg h t C o I I I 47
B ay Counties P ow erC o.— See Pacific Gas Sc
E lectric C o ____________________________
117
11
B ay Stato Street R y _____________
Beaumont T rac. C o.— See Eastern T ex. EIocI 8
Beaver Valloy T raction_______________________ 102 /C ad illac Gas L t. C o .— Seo United Lt. Sc R y s . 49
Beech G rove (Ind .) Traction C o ______________ 137
'adlllac W ater & Light C o .— See Consumers
Bellalre South Westorn T rac. C o .— Seo Wheel
Powor C o _____________
47
ing Traction______________________
104 Cairo Elec. & T ra c.— See Cairo B y ! A L ight” 22
Belt Lino R y . C orp_______________________
82 Cairo R y. & Lt. C o _________________________ . 2 2
Ben A von & Emsworth St. Ry _ __
”
j o i C airo Sc S t. L . R y _____________________________ 22
Bennington E lec. C o .— Seo Twin Stato G .' a ' e I
Calais (M o.) Street Railw ay________________
C o ....................................
12 Caldwell (Idaho) T raction C o _____I . sI " I l 3 7_ 19
Bennington W ater Powor C o .— Seo Twin State
G . Sc E . C o ______ ________
12 California Central Gas Sc Electric C o .— Seo
Pacific
_
117
Benton Harbor-St. Joe R y . Sc Lighting________ 8 California Gas & Electric Corporation. _______I I l3 7
Bergon Turnpike C o _____ __
73 California Eastern Sc N orthern R R .
Gas Sc Electric C orporation.— Soe
Berkely Elec. L tg.— See Pacific Gas A E Ie cIIZ ll7
Pacific Gas Sc Electric C o . .
117
Borkshiro Street R y ______________________ _ _ 75 California Pacific R y.— Seo Pac. Elec. R y ! ! ! ! 62
Berwick & N escopeck Street R y __________ I I 137 California R y .— Seo San Fran.-Oak. Terra. R y 88
kill Valloy T raction______
inq
B eth. & Nazareth— See Leh. Val. Transit
I 3 California R y. Sc Power__________________
119 Citizens’ Pass. R y. (P h lla .)..
... ................... on
Beverly A Danvers— See B ay Stato St. R y ____ 11
Blddoford Sc Saco R ailroad_________________
8 California Street C able_____________ ' C h i c ! '" 118 Citizens’ R y. A Lt. C o .— Soo Tri-C ity R y lA L t! 49
Calumet Elec. St. R y .— See
26 Citizens R y ., L. A P. C o .— Soo N owp. Nows
Big Four Elec. R y _____
_
"
137 Calumet Sc South Chicago R Cal. Sc So.
y ________
26
A Uamp. R y ., G . A E. O o ._ . _
51
Billings (M on t.) R y ., Light & Power C o ” I I l3 7 Cam aguev (Cuba) C o ., L td ______________
137 Citizens’ Stroot R y . (Indianapolis, Iu d .)— See
Biloxi El. R y. Sc Powor C o .— See G ulfport Sc
Cam den Gloucester A W oodbury R y .
' 73
Indianapolis Street R y ___________________
53
M iss. Coast T ract. C o _______ _ _
51 Cam den Horse R R .— See Cam den & Suburban 73
Binghamton Lest. Sc Union— See Bing. R y ____ 9 Cam den Inter-State R y .— See Ohio V al.E I.R y 94 Citizens’ Street R R .— Soo M em phis Stro'et R y! 66
Citizens Stroot R y. (Munelu, In d .)— Soo
9 Cam den Sc Suburban R y ________________ _
Binghamton Railway C o _____
73
Union Traction o f Indiana
4
BIrdsboro St. R y .— See Reading T r. & L t.’C o I l0 9 Canadian L t. Sc P o w ______________
*133
100
Citizens’ T r a c t io n ______
Birmingham Ensley Sc Bessemer R y .— See
Canal Sc Claiborne R R .— Seo N . O. R y . Sc Lt ' 75 Citizens’ Traetlou C o ., Oil C ity ” ” ! ”
on
Birmingham Tidewater R y . C o ______ __
Canandaigua El. Lt.A R R .—See N .Y .S t. I t y s ll l l C ity Electric C o ., Albuquorquo, N. ivi — —
■
Birmingham Knoxville Sc Allentown T rac
Oanarsle R R . C o .— See N . Y . C onsol. R R ____ 16
C ity Electric R y. (Port Huron, M ich .)” Soo
tion— See Pittsb. A Birmingham T r
101 Oanton-Akron C ons. R y __________
2
Detroit & Port Huron Shore Line
*10
Birmingham Railway A Electric— See "Bir
C anton-Akron R y .— See O a n .-A k r.'C o n sI'R y ! 2 C ity Electric R y . (R om o. G a .)— S ee'R o'm e
mingham R y. L t. Sc P ow er_______ __ .
9 Oanton-M asstllon Electric R y .— See C antonR y . A Light C o _____________
it)
Birmingham R y . L t. Sc Pow or_______ __
9
Akron C o us. R y ____________________________ 2 C ity A Elm Grove R R . C o .— See West" Virginia “
Blrmlngham -Tidowater R y. C o ____________ I I 9 C anton-N ow Philadelphia R y .— See Can'tonTraction A Electric C o _______________
iin
Bleecker St. Sc Fulton Ferry R R __
"7 8
Akron Cons. R y _______________________
2
B loom field Street— See Pittsb. T rac. System " 102 Cape Breton Electric C o _________
135 0{$y Gas C o .— Soo N orfolk R y . A Light” ” ” 111
Bloom ington Decatur A Champaign R R . .
21 Cape M a y Del Bay & Sewell’s Point R R . . . I I 19 O ty Light A T rac. C o. (Sedalla. M o . ) . .
C ity Railway (D a yton , O h io)_______________I 35
Bloom ington Sc Norm al R y . E l. A Heating C o.
Capital T raction___________________________
128
— Seo B loom . & N orm . R y . A L t___________ 21 Carbondale R y .— See Scranton R y ______ I . I I 93 C ity R y . o f Los Angelos— Soo Los Angolos Ry".
C orp---------------------- ------------J 62
21 Carbon Transit C o __________________________
Bloom ington Sc Norm al R y. Sc Lt. C o ______
65 C ity A Suburban Gas C o .— Soe VVost Val Tr'a'c".
Bloom ington Pontiac Sc Joliet Elec. R y . _
56 Carolina Power Sc Light C o _______________I I 108
A Electric C o ______ __
tin
Blue Grass T rac. C o .— See K y . T rac. Sc T erm . 60 Carolina Traction C o. (R ock Hill, S. O.) ” l37
C ity A Suburban— See U nited"K a'lIw a'ys'A
Blue Hill Street R y _________
19 C ascade El. L t. Sc Power C o .— See T w in State
Electric C o. o f Baltimore . . .
7
Blue Ridge Elec. C o.— See Georgia R y . A P o w l 5
Gas Sc Electric C o __________ __
112 £ i* & Suburban R y .— S eoP ort.R y.,L lA P o'w Il07
B luffton Geneva Sc Celina T rac. C o ____ __
9
Light Sc Power C o .— See
Boise (Idaho) R R ., L t d __________________ I
137 Cascade Electric C o ____________ . T w in State 12 C ity A Suburban R y .— Soo Wash. R y. A El 127
Gas Sc
” l 03
Boise valley Traction C o _________________ I I I 9 Oas3 A ve. Sc Fair Gr. R y .— Seo United RyV. O o ll4 Clalrton Stroot R y ____
Bordontown Electric C o _____ _______I I I I I I I I 71 Cassvillo & Western R y ________________________137 Claremont (N . H.) R y. A Lighting C o l " ” ” i p )
iin
B oston Sc Chelsea R R ___________ __I . I I I I I I I I 12 Catharine Sc Balnbridge Sts. R y ____ ____ ____ I 96 Claremont (N . H.) Power______ __
137
Boston & Eastern R R ____________ I I I I ' I
137 Catskill (N . Y .) Traction C o __________________137 Clarksville (Tonn.) A Dunbar Cave R y ”
137
Boston Elevated R y ____________ ____ I . I I
9 Cayuga Lake El. R y .— See Ithaca T r a c t io n .!. 65 Cleburne T raction C o ___________________ ”
Cleveland Boroa Elyria A Oberlfn 'ity '.— See
Boston M il. Sc B rock.— Seo Old C olony St'. Ry". 1 1 Cedar Rapids Sc Iowa C ity R y . Sc Light C o .—
__Cleveland
Columbus
30
Bos. & N or. St. R y.— See Bay State St. R y . . . 11
See Iowa R y. Sc Light C o _________________
19 Cleveland A Southwestern A Ry .
Chagrin Falls
31
Boston A Revere E lectric__________________ _ 12
xlar Rapids Sc M arion C ity R y______ I I I I ' I 50 Cleveland A Eastern T raction........................... 31
Boston Suburban Electric C o m p a n i e s ! . ! ! '! " ” 10
ratral Arkansas R y. A Light C orp .— See
Cleveland A Elyria It R .— See Cleveland s'o'ut'hBoston & Worcostor Electric Oorapantos____ I . 12
Eedoral Light Sc T raction C o _________________ 82
western A Columbus R R ________________
30
Boston Sc W orcester Street Ry .
12 Central California Electric C o .— Soe P acific
Boyerstown Sc Pottstown St. R y .— S ee'R ead Gas Sc Electric C o ___________________________ 117 Cleveland Electric R y.— Soe Cleveland R y '" " 30
Ing Transit & Light C o ______________
109 Central California Traction C o ______________ I I l2 4 Cleveland Elyria A W estern—See Cleveland
Southwestern A Columbus R y .
30
Braintree Sc W eym outh St. R y .— Soo So. Shore
Central Crosstown R R -S e e Now Y o rk R y s . 77 Cleveland A Erie R y. C o ______ __
45
n
Sc Bost. Street R y _______ __ _
137
Braintree St. R y .— See Old C olony S tl'lty
1 1 Central Electric C o .— See Somerset Union A 71 Cleveland Intorurban R R _______ " H
M iddlesex Lighting C o ___________
Cleveland A Ohio Oontral Electric Ry
137
Brantford A Hamilton R y .— See Dorn. P Sc
Oontral
31
Transm . C o ______________________________
132 Central Elec. R y .— See Sac. E lec. G . Sc R y . . . l l 7 Cleveland Palnosvilio A Ashtabula R R
B rantford M unicipal I i y . _ I ”
”
137 Central GeorgiaCPowor C o ______________________ 65 Cleveland Palnosvilio A Eastern R R _ _ ” ” ” 30
111. L t. o .— See Union R y. G . Sc E .C o 46 Cleveland Railway C om pany______ I ” "
30
Brattieboro Gas Light C o.— See Tw in "state
Central Illinois Public Service C o ___________
65 Cleveland Rapid Transit R y ______ " I ”
137
Gas & Electric C o ______________________
12
Kentucky
137
Brazilian T raction, L ig h t s P o w e r .I .I I
135 Oontral Sc Term . C oT rac. C o .— Soe K entucky 60 Cleveland A Sharon Rapid T ra u slt'd o
________________
T rac.
Bridge Operating C o.^ -S oe B klyn. R. T r. C o l l 13 Central M arket St. R y .— See C ol. R y . P . Sc L t! 32 Cleveland A Southwestern Traction C ol— Seo
Cleveland Southwestern A Col. R y
30
B ridgeport (C onn.) T rac.— Seo C onn. R y . &
Central Mississippi Valley Electric Properties 57 Cleveland Southwestern A Columbus j .
Ity”
30
Light C o ___________________
74 Central New York Southern R R . C orp .— See
” ' l .37
Bridgeton Electric— Seo Am er,can” R v s” C o!
IthacaTractlon C o rp o ra tio n ____
55 Cleveland A Youngstown R R
Clinton Street R y _____ __________ "
31
( P h lla .)__________________________ _
92 Central Park North Sc East River R R .— See
Coal Bolt Electric Railway C o”
gg
Bridgeton A M llv . T r.— See A m . Rys. d o " ! " ' 92
Belt Line R y . C orp_________
82 Coal Castle Electric R y.— See E ."P onnI'R ys” l 07
Bridgewater Whitman Sc Rockland St. R y .—
Oontral Passenger R y .— See Central Tr'ac'tlonl 102 Coast Counties Gas A Elec. C o
120
See So. Shore Sc Bost. St. R v _____ ________
n
Central Pennsylvania Traction C o .— See Har
A Powor C o .— s"o"e"Coast
Bristol C ounty Street R y ___ I I I I I I I I I ~ 1 2 5
risburg R y s_________________________________ 52 Coast Counties Lightlec_________________
Counties Gas A E
120
Bristol Sc N orfolk Street R y _________ _____ _ I I l 37 Central B y .— See United Railways Sc E lectric! 7
A Eloctrlc O o
Bristol Sc Plainville Tram way (C on n .). .
12 Central R y .— See Peoria R y __________________
23 Coast Valleys GasSpokane R y.—._ . Spokane 119
Coour d ’Aleno A
See
Bristol (V a.-T onn.) Traction C o ______ I . I I I I 13 Central T ra ction ___________________________
102 A Inland Empiro R y ____________ ____
123
British Colum bia Electric R y __
137 .
Centre Sc Clearfield Street R y
3
■
>
Broad R ipple T raction______________ " I
54 Chambersburg Sc Gettysburg ___________ I I I I"I 1217 Cohoes R y .— See United T raction C o . I
Elec. R y _____
Colonial Power A Light C o . . ___
110
B road Ripple N atatorium .— See Union T ra c
Ohambersb. Oreencastle Sc W aynesboro Street
tion C o. o f Indiana_________
4 __R y .— See Hagerstown Sc Frederick R y _______ 51 C olorado Springs Eloctrlc C o .— Seo UnitfedGas
A Electric C o ______________________________ __
B 'w a y Sc 7th A ve. R R __________ __
'
73 Charleston C ity R y .— See Charleston Consoli
Colorado Springs A Interurban Ry .
32
Broadway Surf. R R .— See B y Sc Seventh
dated Railway Gas & lectric____________
24olorado Springs Light A Powor Co".— Soo
C
Avenue R R . ________________
73 Charleston ConsolidatedER y. Gas & Electric—
United Gas A Electric C o ______ __
83
B rockton Brldgowator Sc T a u n t o n 'S t l'K y l—
See Charleston C ons. R y. Sc Ltg. C o .
24 Colorado Springs Light, Heat A P ow or'O ol—
See Old C olon y St. R y ___
” n
Charleston Consol. K y. Sc Lighting C o ____ I I I 24
See Unltod Gas A Electric_______ , . . . 83
B rockton Sc East Bridgewater S tI'R y '.— See
Charleston-Isle o f Palms T raction___________
24
Old C olon y St. R y __________________ .
n
Charleston Interurban R R __________
"
24 Columbia (S. O.) Elec. St. R y. Llght*^: Powor
— See Colum bia R y ., Gas A Electric............32
Brockton A Plym outh Strcot R y . . _
104 Charlotte E lec. R y .— See Southern Pub. Util I 24
Colum bia A M ontour Electric R y
137
Brockton Street R y .— Seo Old C olon y S t! Ity " 11 Charlotte Electric R y . Light Sc Power C o .—
Wash.
A Elec. C o l ” 127
B ronx Traction C o ___________________
See 82
Southern Pub. Utilities C o _______________ 24 Columbia R y .— Soe y .. Gas R y.Elec. C o ............ 32
Co umb a (S. CO R
A
B rooklyn Bath A Wost End R R .— See'B l R .' t ! 13 Charlottesville Sc Albomarle R y _____
25
B rooklyn Sc Bright. Beach— Seo B klyn. R . T . 13 C hattanooga Elec. R y .— See Ohatt. R y .'A L t ! 69 Columbia R y . Gas A Elec. Securities C o .—
See C ol. R y. Gas A EIoc. C o .....................
32
B rooklyn Cable C o .— See Nassau Electric
17 Chattanooga Gas C o .— See Un. Lt. & Rys. C o . 49
Colum bus Buckeyo Lake A Newark Traction
B rooklyn C ity Sc N owtown R R .— Seo Conoy
Chattanooga
Lt
69
— Soo Columbus Newark A Zanosvlllo
33
Island & B rooklyn____
17 Chattanooga R ys. C o .— See Ohatt. R y . & __ ._ 69
Railway Sc L ight___________
B rooklyn C ity R R .— Soe Brooklyn’ R a p '.'f ran I 13 Chautauqua Traction C o ___ .
“ 55 Columbus Delaware A M arlon Electric R R " " 34
Columbus Delaware A Marlon Ry
B rooklyn Orosstown R R .— Soo BrooklynlR . T . 13 C heboygan El. Lt. Sc Pow. C o ____ I . I I !
137 Columbus E d. C o .— Seo C ol. R y ., P. A 'L tlC o " 32
B rooklyn Heights R R .— Soe Brooklyn R. T
13 Chester D arbyA P hlla.— SeeW il.AChesterTrac 94
Columbus (G a.) Electric C o _________
. . ’ 32
B rooklyn Sc N orth River R R .— See Third A v e
Chester Sc M edia Elec. R y .— Soe W ll. Sc Ches
bus Grove C ity A Southwestern Ity.—
nue Railway__________________________________ 79
ter T raction_____________
94 Colum Indiana Columbus A Eastern
Seo
33
B rooklyn Queens County Sc S uburbari'K Itl—
Chester Sc Philadelphia R y _______ I I " "
" 96 Columbus Intorurban Terminal C o
33
See Brooklyn Rapid Transit________________
13 Chester Street R y ,— Soo w ll. Sc Ohes. T r a c i" " 94
137
B rooklyn Rapid Transit (with m ap )_____
13 Chester Traction— See W lim . Sc Ohes. Trac. C o 94 Columbus Kenton A T oledo Traction
Columbus London A Sprlngflold R y .— Soo In
B rooklyn Union Elevatod— Seo N . V . C onsol. 16 C hic. B loom . Sc Decatur R y .— See Bloom ing
diana Columbus A Eastern .
_ .
33
Brownsville Avenue Stroet R y .— Soo Pitts. Sc
ton D ec. Sc Cham paign______________________ 21
37
Birin. Traction C o _____________ __ .
jO l Chicago C ity Sc Connecting R y s________________ 25 Columbus M agnetic Springs Sc Nor." R y
Columbus M arion A Bucyrus R y. C o .
65
Sb*T., 1918. J
Page.
Colum bus New Albany & Johnstown T rac. C o . 34
Columbus Newark A Zanesville Elec. R y ____ 33
Colum bus & Ninth A ve. U K .— See N . Y . R y s . 77
Columbus Northora R y .. Rower A Equipm ent 34
Columbus Power C o.— Soe Oolum . E lect. C o. 32
Columbus (G a.) R R .— Soe Colum bus E lec. C o . 32
Colum bus R y .— Soe C olum . R y ., P . A L . C o . 32
Columbus Railway, Power A Light C o ________32
Colum bus St. R y .— See C ol. R y ., Pow . & L t ._ 32
Colum bus Traction C o.— Soe C ol. R y . A L t.O o 32
Columbus Urbana & Western R y ____________ 137
Comm onwealth Avenue Street R y .— See M id
dlesex & Boston Street R y _________________ 10
Comm onwealth Power, R y . A Light C o _____ 46
Comm onwealth Power C o.— See Consumers’
Power C o ____________________________________ 47
Com m onwealth Power C o. o f N ebraska.— Soo
Lincoln Traction C o __________________________60
C om pton Heights Union D opot A M erchants’
Terminal R y .— See United Railways System 114
Concord M aynard & Hudson Street R y ________ 50
Concord Street R y _____________________________ 34
C oney Island A Brooklyn R R ________________ 17
Coney Island & Gravesond— See Bklyn. R . T _ 13
Conestoga T ra ction —Soo Lan. C o. Ity. & L t. 59
Connecticut C om pany__________________________73
Connecticut R y. & Lighting____________________74
Connecticut Valley Street R y _________________ 50
Connellsvillo Suburban Street R y .— See West
Penn Railways C o __________________________ 103
Conshohockon R y .— See Schuylkill V alley____ 109
C onsol. E lec. Light C o . o f M aine.— Soo Cum
berland C ounty Power A Light C o _________ 106
Consolidated Gas C o. o f Pittsburgh__________ 103
C onsolidated L t ., H t. & Power C o .— See Amer.
Itys. C o _____________________________________ 92
Consolidated Railway C o .— Soo C onn. C o ____ 73
Consolidated Lighting C o .— Seo M ontpelier &
Barro Light & Power C o ___________________
8
Consolidated Railways, Light A Power C o.
(W ilm ington, N . C .) _______________________ 129
C ons. Seour. A Inv. C o .— Soo D on . Tram . C o . 37
Consolidated Traction o f New Jersoy__________ 72
Consolidated Traction o f Pittsburgh, P a---------102
Consumers’ E l. Lt. & Pow. C o. (Now Orleans) 83
Consumers' Power C o __________________________ 47
Consumers’ Water A Light C o _________________ 22
Continental Passenger R y _____________________ 96
C op ley E gypt A Iront m St. R y .— See Lehigh
Valley Transit____ __________________________ 3
Corning & Painted Post Street R y --------------------- 35
Corpus Christl Stroot A Int. R y ----------------------137
O orry-D eavitt-F rost Electric C o .— See M on tpellor A Barre L. A l 5. C o -------------------------8
Cortland County T raction-------------------------------- 35
C ounty Traction C o. (C hicago)— See Chicago
A West Towns R y ___________________________ 27
Croston W intorsot& Des M oines---------------137
Crosstown St. R y. (B uffalo)— Soe Inter. T ra c. 18
Crosstown St.— Soe Colum bus R y .,P .& L t. C o. 32
Cumberland County Powor A Light C o _______ 106
Cum berland Electric R y -----------------------------------137
Cumberland & Wosteruport Electric R y . C o . . 86
allas Interurban T erm . A ssociation.— See
Dallas Railway C o ______________________ 35
Dallas Northwestern Traction C o _____________137
Dallas Power A Light C o ______________________ 35
Dallas Railway C o _____________________________ 35
Dallas Southwestern Traction C o _____________137
D anbury (C onn.) & Bethel Street R y __________ 30
Danville Champaign A Decatur R y . & L t. C o . 22
Danville & ICastorn Illinois R y _________________ 22
Danville A N orthorn.— Seo D anv. St. R y .& L t. 22
Danville A Southeastern R y ____________________22
Danvlllo (III.) Street R y . & L igh t______________ 22
Danville (V a.) Traction & Power C o _________ 137
Danvlllo Urbana A Champaign R y --------------------22
D arby M edia A Chester R y .— See Phila. R . T . 95
D a rb y & Yeadon St. R y ----------------------------------90
D ayton C ovington A Plqua T ra ction __________ 30
D ayton & Northern Traction C o.— Seo Indiana
Colum bus A Eastern________________________ 33
D a y ton A Soldiers' Home ItR .— See C ity I t y . 30
D ayton Springfield & Urbaba E lectric R y .—
Seo Ind. C olum . & Eastern--------------------------- 33
D ayton Springfield A X en ia Southern_________ 30
D ayton (O.) Street R y .— See C ity R y ............ 30
D ayton T raction.— SeeCIn. & D ayton T r a c . . 34
D ayton & T roy E lectric------------------------------------ 30
D ayton A W est. T rac.— See Ind. C ol. & E a s t. 33
Decatur Gas & E lec.— See Decatur R y . A L t__ 22
Decatur Railway A Light C o -----------------------------22
D ecatur T rac. A Elec.— See Decatur R y.& L t . 22
Dedham (M ass.) A Franklin Street R y ............. 137
D o K alb County Gas C o — Seo 111. N o. U til.C o. 40
D e K alb-Sycam oro E lec.— See Union R y . Gas
& E lectric------------------------- — ----------------- 46
D o K alb Sycamore A Interurban T ra c.— See
40
Union R y . Gas A E le c tr ic .. . . . . . ------Delaware C ounty A Philadelphia Electric R y . 94
Dolawaro & Maryland T rac. Securities C o . ..1 3 7
D elta Light A Traction C o . . . . . . . ------------------ 137
Deinerara Electric C o ., L td ., H a lifa x ..-----------137
Denison A Sherman R y .— Seo Texas E lec. R y . 36
Denver C ity Tram w ay.— Seo D env. T ra m .C o . 37
D enver Consol. Tram .— See Denver Tram . C o . 37
D enver 3c Inter-M ountain---------------------------------- 37
Denver A Northwostorn R y ------ ---------37
Denver Realty C o.— Seo Denver T ram . C o
37
Denver Tram way C o ___________________________37
D enver Tram w . P ow . C o.— Seo D en .O y.T ram 37
Denver Tram w ay Terminals C o.— Soe Denver
T ram w ay C o .
37
Dos M oines A Contra! Iowa Electric C o . -------- 22
Des M oines C ity R y
................................... .. 37
Des M oines St. R R .— See Des M . C ity R y . . . 37
Das M oines Suburban R y .— See Des M . C it y . 37
Dotrolt A lm ont A N orthern R R ...............
40
D etroit E lectric R y .— See Detroit United R y . 39
D etroit A Flint.— See Dotrolt United R y ..........39
D etroit Fort W ayno A Bolle Isle R y .— See
D etroit United R y ___________________________39
D etroit Jackson & C hicago_____________________ 40
D etroit A Lake St. Clair R y .— See D etroit &
Port Huron Shore Line R y ............................. 39
D otrolt M on roe & T oledo Short Line R y ------ 40
D etroit A N orthw .— See D etroit United R y . . 39
Detroit Pontiac A Owosso R y ............................137
D etroit & Pontiac R y .— see D ot. United R y . . 39
D etroit A Port Huron Shore Lino (with m a p ). 39
D etroit R y .— See D etroit E lectric R y ................ 39
D etroit Rochester R om eo A Lake Orion.— See
D etroit A Flint R y . .
39
(Detroit United R y . (with m a p ) " " ...............
39
D etroit Ypsilantl Ann Arbor A Jackson R y .—
See D etroit Jackson A C hicago R y .............. 40
DIghton Somerset A Swansea Street R y .— See
G lobo Street R y ____________________________ 11
D ixon R ock Falls A Southwastern R y ________ 137
Dominion Power A Transmission C o ________ 132
Dom inion Traction A Lighting C o ., L td _____ 137
D over Gas Light C o.— See Tw in States Gas &
' Electric C o ___________________________________ 12
D o v e r Somefsworth & R o c h e s te r .._____________62
D
INDEX TO RAILWAYS
Page.
D oylestow n & W illow Grove R y _______________ 96
D r y D ock East Broadway A B attery R R ____ 79
D u Bois E lectric A Traction C o _______________ 40
D u bu qu e Electric C o ___________________________ 40
D u lu th Street R y .— See Duluth - Superior
T ra c__________________________________________ 40
Duluth-Superior T ra ction ______________________ 40
Dunkirk A Frodonia R R .— See B uffalo A Lake
Erie T raction C o ____________________________ 17
Duquesne Light C o ___________________________ 103
Duquesne T ra ction ___________________________ 102
ast Cleveland R y .— See Cleveland R y _______30
astern Pennsylvania Itys. C o _______________ 107
E astern Power & Light C orporation__________ 109
Eastern Texas E lectric C o ___________________
8
Eastern Texas Traction C o ___________________ 137
Eastern Wisconsin E lectric C o ________________ 122
Eastern W isconsin R y . A Light C o .— See E ast
ern Wisconsin Electric C o ___________________ 122
East Jersey St. R y .— See P ublic Service R y . . 72
East M cK eesport Street R y ___________________ 101
East M iddlesex Street R y _____________________ 12
East Newark Gas L ight______________________ 71
East Reading E lec. R y .— See Reading T r a c ..1 0 9
East St. Louis Light & Powor C o .— See East
S t. Louis & Suburban C o ____________________41
East St. Louis A Suburban C o _________________ 41
East Shore & Suburban R y .— Seo San Francisco-Oakland Terminal R ys_________________ 88
East Side Traction C o .— Seo N .Y .State R y s ..111
Easton Consolidated Electric C o _______________ 4
Easton Palmer A Bethlehem Elec. R y .— See
Easton Consolidated E lectric_______________ 4
Easton A South Bethlehem Trans. C o .— See
Easton C onsol. Eloctric C o _________________
4
E au Claire Gas L ig h t'C o .— See W Lsc.-M inn.
Light A Power C o _________________________ 59
Edison E lec. C o .— See Lan. C o . R y . & L t ___59
Edison Electric Illum inating— See Paterson &
Passaic Gas A E lectric_____________________ 71
Edison Electric o f N ew Orleans.— See N ow
Orleans Railway A Light C o ________________ 75
Eighth Avenue R R ____________________________ 78
E lectric C ity R y .— Seo Intornat. T rac. C o __ «. 18
E lectric C o. o f N . J ___________________ L_____ 94
E lectric Dovel. C o .— See T oron to Power C o . . 135
Electric Properties C o . (N . Y . ) _____________1.137
E lectric Short Line R y _______________________ 137
Eloctric Traction (Philadelphia, P a .)__________ 96
Elgin Aurora & Southern T raction.— See A u
rora Elgin & C hicago.......................
25
Elizabeth Plalnfiold A Central Jersey.— See
United Street R y ................................................... 72
Elizabeth A Raritan River Street R y .— See
United Street R y ____________________________ 72
Elizabeth A Trenton R R _______________________ 73
Elizabethtown A Florin Street R y .— See Lan
caster C ounty R y . & Light C o ______________59
Elmira W ater, Light A R ailroad_______________ 41
El Paso Eloctric C o ____________________________ 41
El Reno Intorurban R y .— Seo Oklahoma R y__ 89
E lw ood Electric.— Seo Union T rac. o f Indiana. 4
Elyria Grafton & Southern.— See Cleveland
South Western A Columbus R y _____________30
Elyria A Oberlin.— See C love. S. W . A C o l . . . 30
Empire Passenger R y __________________________96
Empire State Railroad C orporation__________ 124
Ephrata A Adam stown R y.— Soo Lancaster
C ounty R y . A Light C o _____________________ 59
Ephrata A Lebanon Street R y ________________ 137
Erie C am bridge Union A C orry R y ___________ 137
Erie A Central Pennsylvania R y ______________ 137
Erlo E lectric M oto r C o .— See Buffalo & Lake
Erie T raction C o ___________________________ 17
Erie Rapid Transit C o .— See B uffalo A Lake
Erie Traction C o ____________________________ 17
Erie Southern R y ______ ,__________________ . . . 1 3 7
Escanaba (M ich .) Traction C o ________________ 42
Essex A Hudson Gas C o ______________________ 71
Evanston R y ___________________________________ 27
Evansville & East. Elec. R y .— See Evansville
Rys. C o ______________________________________42
Evansvillo Elec. R y .— Soo Union R y ’. , G . & E . 46
Evansv. G . A E . C o .— Seo Uu. Ity., G . & E _46
E vansv. Ilend. & O wonsboro.— Soe E vans.R ys. 42
Evansvillo Light C o .— See Union Ity ., G . A E . 46
Evansvillo & M t. Ver. Elec. R y .— See E vans
ville Itys. C o _________________________________42
Evansvillo & Princeton T raction C o .— See
Union R y ., Gas A E lectric__________________ 46
EvansvMlo Pub. Serv. C o .— Seo Union R y .,
Gas & Electric________________________________46
Evansvillo Railways C o ________________________ 42
Evansvillo A Southern Indiana Traction C o .—
See Union Ity., Gas & Electric_______________ 46
Evansvillo Suburban & Newburgh R y _________ 42
Evansville Term . Ity.— See Evans. Rys. C o. 42
Everett R y . & Eloctric C o.— Seo Puget Sound
T ra ct., Light & Power______________________ 121
Everett R y .. Light & Water C o .— Seo Puget
Sound T ra ct., Light A Powor_______________ 121
Everett W ater C o .— See Puget Sound T ra ct.,
Light A P o w e r _____________________________ 121
E
Ipalr Haven & W estvillo R R .— See C onn. C o . 73
1 alrm one A: Clarksburg Trac. C o .— SooM onon-
gahela Valley T raction_____________________ 43
Fairmont A
Mannington
T raction.— Seo
M onongaliola Valley T raction_______________ 43
Falrmount Park & Haddington Pass. R y .—
Seo Hostonvitlo M antua & Falrm ount_______97
Fairmount Park Transportation C o ___________ 94
Farmington Stroot R y .— Soo C onn. C o ______ 73
Fayottoviilo (N . O.) Light & Powor C o _______137
Federal Light & Traction C o __________________ 82
Federal Street & Pleasant Vailoy R y __________ 101
Felicity & Bothol R R .— Seo C iu. Georgetown
& Portsm outh______________________________ 29
Ferries A C liff IIouso R y .— See United R R . o f
San Francisco_______________________________119
Findlay Stteot R y .— Soe T oledo Bowling Croon
A Southern T raction_______________________ 126
Flshkill Eloctric R y ____________________________ 43
Fitchburg A Leominster Stroot R y . ___________ 43
Flint Gas C o .— Seo Michigan Light C o _________ 47
Flushing A Collogo Point Eloc. R y .— See N . Y .
A Queens C o ___________
61
Fonda Johnstown & Gloversvlllo R R .— Soo
"R ailroad and Industrial" Section.
Fond du Lac St. R y. A Light.— Soo Eastern
Wisconsin Electric C o______________________ 122
Forest C ity Stroot R y.— See Cleveland R y ____ 30
Fort Dodge Dos M oines A Southern R R .— Seo
“ Railway and Industrial” Soctlou.
F t. Goorgo A Eloventh A ve. R R _______________ 78
Fort Pitt Traction— Soo Consol. T rac. (P itts .). 102
Fort Scott Gas A Eloctric C o _________________ 43
Fort Scott A N ov. L t., H t.. W . A P , C o .............137
Fort Smith Light & Traction C o _______________ 43
Ft. W ayne B luffton A Marion T raction C o .—
Seo Ft. W ayne A N or. Ind. T ra c__ . . . ______ 43
Fort W ayno A Decatur Traction C o ___________ 36
Ft. W ayne A Northern Indiana T raction_______43
Fort W ayno & Northwostorn R y ______________ 137
139
Page.
Fort W ayne T raction C o .— See F t. W ayne
& Northern Indiana T raction C o _________ 43
F ort W ayne Van W ert & Lima T rac. C o _____ 34
F t. W ayne A Wabash Valley T rac. C o .— See
F t. W ayne A N orthern Indiana T raction___43
F orty-Second St. A Grand St. Ferry R R ____ 79
F orty-Second St. Manhat.As St. N ich. A ve . R y . 79
Fostoria (O.) & Frem ont R y __________________ 44
F ox R iver Valley E lectric C o .— See W ise.
T ra ct., L igh t, Heat A Power C o __________ 67
Framingham Southboro & M arlboro Street
R y .— Soe Boston A W orcester St. R y _____ 12
Framingham Union Street R y .— See Boston A
W orcester Street R y _______________________ 12
Frankford A Southwark Passenger R y _________ 96
Frankford T acon y & Holmesburg R y __________ 98
Frederick Gas & El. C o .— See Hag. & Fred. R R . 51
Frederick & M iddletow n R R .— See Hagers
town A Frederick R R _______________________ 51
Frederick R R .— See Hagerst. & Frod. R R ___51
Freeport R y. & L t. C o .— See 111. N or. Util. C o . 40
Freeport R y ., Light < Power C o .— See 111.
fc
N o r. Utilities C o _____________________________ 40
Fresno C ity R y .— Seo Fresno T raction C o ____ 45
Fresno H anford & Summit Lako Inter________ 137
Fresno Interurban R y _________________________ 137
Fresno T raction C o ___________________________ 45
Fresno Gas & Electric Light C o .— See P acific
Gas & E lectric C o ___________________________ 117
Fries M fg . A Pow . C o .— Seo So. Public Util.
24
C o . . ..............................
Front A 5th St. R y .— See R ead. T r. A L ig h t ..109
Frontier E lectric R y __________________________ 137
Frostburg Eckhardt & Cumberland Elec. R y .
— See Cum berland & W esternport__________ 86
Frostburg Ilium . A M fg . C o .— Soe Hagerstown
A Frederick R y _______________________________51
Fulton Elevated— Soe B rooklyn Rapid T r a n .. 13
G a in e sv ille R y . A P ow . C o .— See Georgia R y .
& Power C o ____________________________ 5
Galesburg Gas & El. C o .— Seo Galesb. R y .
Ltg. A P ow . C o ______________________________ 23
Galesburg A Kowanee Electric R y ______________58
Galesburg Railway, Lighting & Power C o _____ 23
Galveston E loc. C o .— See G alv.-H ous. E l. C o . 45
G alveston-H ouston Eloctric C o ________________ 45
Galveston-H ouston Elec. R y .— See GalvestonHouston Elec. C o ____________________________ 45
Gardner Westminster A Fitchburg St. R y .—
Seo Northern Massachusetts Street R y _____ 50
Gary Connect. R ys.— See Gary St. R y . C o rp . 45
Gary A H obart T r a c t io n _____________________ 137
G ary & Southern Traction C o ________________ 137
G ary A Interurb. R y .— Seo Gary St. R y. C orp. 45
G ary Street R y .— Seo Gary Street R y . C o r p .. 45
Gary. Street Railway C orporation______________ 45
Gary- & Valparaiso_____________________________ 45
Gas A Electric C o. o f Bergen C ounty__________ 71
Gas Light C o. o f New Brunswick— See New
Brunswick Light, Heat & P ow er_____________71
Geary St. Park A Ocean R R __________
137
General Gas A Eloctric C o .— See “ Railway A
Industrial’ Section.
Geneva Seneca Falls & Auburn R R . C o ., I n c . . 45
Georgetown A Lexington T raction C o .— See
Kentucky T rac. A T erm _____________________ 6 0
Georgetown R ow ley A Ipswich— See Bay State
Street R y ___________________________________ 11
Georgetown A T enallytow n R y .— See Wash.
R y . A E lec__________________________________ 127
Georgia-Carolina Invest. C o .— See AugustaAiken R y . A E loc. C orp _____________________ 6
Georgia-Carolina Power C o .— See AugustaAiken R y . & Elec. C o rp _____________________ 6
Georgia E lec. Light C o .— See G a. R y . & E le c . 6
Georgia Light, Power A Railways (with m a p ). 63
Georgia Railway A Electric C o _______________ 6
Georgia R y . A Power C o ______________________
5
Germantown Passenger R y _____________________ 97
Glendale & M ontrose R y _____________________ 137
Glens Falls Sandy Hill A F t. Edward Street
R R .— See Hudson Valley R y _______________ 3
G lobe Street R y .— See B ay State R y _________ 11
Gloucester Essex A Beverly— See Bay S t a t e .. 11
Gloucester A R ock p ort.— See B ay State_______11
Gloucester 8 treet R y .— See Bay State S tr e e t.. 11
G off's Falls L ltch. A H ud.— See M a n . T ra c.
Light A Pow er_______________________________65
Goldsboro (N . O .) T raction C o _____________ 137
Goshen South Bend A Chicago R R .— See Gary
R y . C o rp ____________________________________ 45
Grarton & Upton R R .— Seo M ilford & Ux
bridge St. R y ______________________________ 66
Grand Rapids E d . C o .— See C o n su m .P o w .C o . 47
Grand Rapids Grand Haven A M uskegon R y . 49
Grand Rapids H olland & Chicago R y __________ 46
Grand Rapids Holland A Lake M ichigan R y .
— See G r. Rapids Holland & Chicago R y ___46
Grand R apids-M uskegon Power C o .— See C o n
sumers' Power C o ____________________________ 47
Grand Rapids R ailw ay_________________________47
Grays H arbor R y . & Light C o .— See Federal
Light A T raction C o _________________________82
Green B ay Gas A E l. C o .— See W ise.P u b.S.C o. 50
Green B ay T rac. C o .— Soe W ise. P ub. Ser. C o . 50
Greene A Coates S ts., Philadelphia, Passenger
R a ilw a y______________________________________ 97
Greenfield Deerfield & N ortham pton St. R y .
— See C onnecticut Vailoy Street R y __________ 50
Greenfield A Turner's Falls Street R y .— See
C onnecticut Valley Street R y ______________ 50
G reenpoint& Lorlm er St.— See B klyn. R apid
Transit______________________________________ 13
Greensboro Electric C o .— See N orth Carolina
Public Service C o ____________________________ 51
Greenville-Carolina Power C o .— See Southern
Public Utilities C o ................................................. 24
Greenville Spartanburg & Anderson R y .— See
• Piedm ont A N orthern R y ____________________24
Greenville (S. O .) Traction C o .— See Southern
Public Utilities C o ___________________________ 24
Greenwich A Schuyiersville E lectric R R .— See
Hudson Valley R y __________________________ 2
Greenwich Tram w ay C o .— See C onnect't O o ._ 73
Groton A Stoningtou St. R y .— See Shore Lino
E lectric R v __________________________________ 88
Gulfport A Mississippi Coast Traction C o _____ 51
Guthrie-Edm ond R y .— See Oklahoma R y _____ 89
A B oonsboro R y .— Seo Hagers
H agerstown Frederick R R _____________________ 51
town &
Hagerstown A Frederick R y ____________________51
Hagerstown A M yersville R y .— See Hagers
town A Frederick R R ______________________ 51
Hagerstown A N orthern R y .— See Hagerstown
A Frederick R R _____________________________ 51
Hagerstown L . A H. C o . o f W ash. C o .— Seo
Lehigh Power Securities C orporation______
3
Hagerstown R y .— See Hagers. & Fred. R R ___51
H alifax E lectric Tram w ay.— See N ova Scotia
Tram ways A Power C o _____________________ 132
Hamburg R y . C o .— See B uff. A L. Erie T r a c .. 17
H am ilton, C a t., Power. Light A T r, C o .— See
D om inion Power & Transmission C o _______ 132
140
INDEX TO RAILWAYS
P
age.
H am ilton Sc Lindenwald E lectric Trans.— See
Cincinnati & D a y ton T raction_______________ 34
H am ilton St. R y .— See D om . Power Sc T . G 0 ..1 3 2
H am m ond W hiting Sc East Chicago R y ______ 28
Hampshire & W orcester Street R y .— See
W are & B rookfield Street R y _______________ 13 1
H am pton & Langley Field R y .— See N ewport
News & H am p. R y ., Gas Sc E lec. C o ______ 51
H am pton R oads T rac. C o .— See N ew p. News
& H am pton R y ., Gas Sc Electric C o ______51
H anover & M cSherrytow n Street R y __________ 51
Harrisburg E lectric Service C o .— See United
Gas & E lectric C orporation_________________ 83
Harrisburg Light & Power C o _________________ 83
Harrisburg & M echanicsburg E lectric R y .—
See Valley Railways C o _____________________ 52
Harrisburg R ailw ays___________________________ 52
H artford M anchester Sc R ockville T ram w ay.
— See C onnecticut C o _______________________ 73
H artford & Springfield Street R y _____________125
H artford Street R y .— See C onnecticut C o _____ 73
H arw ood E lectric C o .— See Lehigh Power
Securities C orporation______ _______
3
H attiesburg T raction C o.— See M eridian Light
& R y . C o ................................................................86
H avana E lectric R y . (C u b a).— See H avana
Electric R y .. Light & P ow er_______________ 132
H avana E lectric R y ., Light & Power C o _____ 132
Haverhill Sc Am esbury Street R y .— See New
Hampshire E lectric Railw ays________________ 52
Haverhill & A ndover.— See Bay State St. R y . 11
Haverhill Georgetown Sc D a n v .— See B ayState
Street R y . . . ----------11
H azleton Steam Heating C o .— See Lehigh
Power Securities C orporation___________ . .
3
n elena Light & Railway C o ____________________ 52
Henderson T ra c. C o ____________________________ 42
Herkimer M oh aw k llion & Frankf. E lec. R y .
— See N ew Y ork State R ailways___________ m
H estonville M antua & Falrm ount Pass. R y ____ 97
H ocldng-Sunday Creek T ra ction ______________ 137
H olyoke 8 treet R y ____________________________ 53
Honolulu R apid Transit & Land C o __________ 132
H oosac Valley Street R ailw ay.— See Berkshire
Street R y ________________
75
H oosick Falls R R .— See Berkshire Street R y . . 75
H ooslck Falls Illuminating C o.— See Twin
States Gas & E lectric C o ...................................... 12
H oosick Falls E lectric C o .— See Tw in States
Gas & E lectric C o __________________________ 12
Hornell (N . Y .) Traction C o _________________ 137
H ot Springs Street R y .— See Central Arkansas
82
Ry.cfc L igh t_________
H oughton C ou n ty Street R y . (M ich .).— Seo
Houghton C ou n ty Traction C o ______________ 53
H oughton C ounty Traction C o ____________ i , 53
H ouston E lec. C o .— See G alv.-H ous. E lec. C o. 45
H ouston Gas Sc Fuel C o ________________________ 83
H ouston Lighting Sc Power C o. (1905).— See
77
American Cities C o ______________
Houston & Texas Central R R . . _____ ________ 137
H udson C ou n ty Gas C o _________________________ 71
H udson R iver & Eastern Traction C o ______ __ 90
Hudson R iver Traction C o .— 8 ee N . J. & H ud
son R iver R y . & Ferry C o ___________________73
Hudson Valley R y _________________________ _ 3
H um boldt Transit C o. (Eureka, C a l.)_________ 42
H untington & Charleston R R .— See Ohio
Valley E lectric R y . C o ______________________ 94
fdaho-W ashington Light & Power C o.— See
1
The W ash. W ater Power C o . System ___ 123
Illinois Central Traction C o ____________________23
Illinois Northern Utilities C o ___________
_ 40
Illinois T raction C o ................................
21
HllnolsValley Gas & Electric.— See “ R ailway &
Industrial” Section.
Illinois Valley R y . C o .— See C hicago Ottawa
& Peoria______________
22
Independence Neodesha Sc Topeka R y ________ 137
Indiana Colum bus & Eastern Traction C o ____ 33
Indiana N orthern Traction C o .— SeC Union
Traction C o . o f Indiana____________________ 4
Indiana R y s. & Light (K o k o m o )_______________ 58
Indiana R y .— See Chicago South Bond &
N orthern Indiana R y ________________________122
Indiana Union T raction C o .— See Union T rac.
C o . o f I n d ia n a .................
4
Indianapolis C hicago & M eridian R y _________ 137
Indianapolis & Cincinnati Traction C o _________ 54
Indianapolis Coal T ra c. C o .— See Terre Haute
In d . Sc Eastern_______________________________53
Indianapolis C olum bus, Sc Sbuthorn T raction
C o ...............................................
32
Indianap. C raw fordsv & D a n v . E lec R y ____ 54
Indianapolis Sc Eastern R y . C o .— See Terre
H aute Ind . Sc E ast______________________
53
Indianapolis & Greenfield R apid Transit— See
Terre Haute Indianap. & Eastern R y ________ 53
Indianapolis & Louisville T rac. R y ____________ 03
Indianapolis Sc M artinsville R apid Transit C o . 64
Indianapolis Newcastle Sc Eastern T ra c. C o .
5
Indianap. Newcastle & T oledo E l. R y .— See
5
In d . N ew c. & E ast. T ra c. C o . . ____________
Indianapolis N orthern Traction C o .— See
U nion T raction C o. o f In d _________________
4
Indianapolis Sc N orthwestern Traction C o ____ 64
In d . Shelbyville & Southeastern T raction C o.
— See In d . Sc C in. Traction C o ___________ 54
Indianapolis & Southeastern Traction C o .—
See Ind . & C ln . T ra ction ____________________ 54
Indianapolis Street R y __________________________ 53
Indianapolis T raction & Terminal C o __________ 53
Interborough R apid Transit C o.— See "R a il
w ay and Industrial” Section.
Inter-M ountain R y .— See D enver Sc Inter
M ountain R R _____________________________
37
Inter-M ountain R y ., L t. & P ow . C o . (o f C olo.) 137
International R y .— See Inter. Traction C o . . . 18
Internat. T raction C o. (B u ffa lo )______________ 18
International Transit C o. (Sault Ste. M a r ie )..1 3 7
Inter-State Consolidated Street R y ____________ 13 1
Inter-State Public Service_____________________ 137
Inter-State Railways C o __________________ . 98
Inter-U rban R y . (Des M o in e s )............................ 37
Interurban R y . & Terminal C o ________________ 29
Iow a C ity L t. & P ow . C o .— See T ri-C ity R y
Sc Light C o __________________________________ 49
Iow a Sc Illinois R y . C o.— See T ri-C ity R y .& L t.4 9
Iow a R ailway & Light C o _____________________ 19
Iowa Southern Utilities C o _______________
21
Ironw ood & Bessemer R y . & 'L t_________
54
Irwin-Herminle Traction C o _____ _____________ 137
Ithaca Street R y .— See Ithaca T ra c. C orp ____ 55
Ithaca Traction C orp ___________________________ 55
J a c k so n C onsolidated T raction C o .— See
*
M ich . United R y s ..........................
46
Jackson Sc B attle Creek Traction C o .— See
46
M ichigan United R y s ...........................
Jackson Gas C o .— See M ichigan Light C o ____ 47
Jackson (M iss.) Light Sc Traction C o __________ 55
Jackson (T enn .) R y . Sc Light C o _______________ 55
Jacksonville (F la.) E lec. C o.— See Jacksonv.
T raction C o ___________________________________ 55
[Vol. 107.
PdQt*
Page.
Jacksonville G as, Light Sc C oke C o .— See
Lexington R y .— Soe Kentucky T ra c. Sc T e rm . 60
Jacksonville R y . Sc Light C o ________________ 23 Lexington Utilities C o __________________________ 60>
Jacksonville (F la.) T raction C o ________________ 55 Licking River B r. C o .— Seo C ln. N ow . Sc O o v . 35
Jacksonville R y . Sc Light C o __________________ 23
Lim a Electric R y . & Light_____________________ 33
Jamaica <c Brooklyn R R .— See B . R . T
5
13 Lima Findlay Sc Toledo— Soe Western Ohio R y 60
Jamestown Street R y ___________________________ 55 Llm a-H oneoye E lectric Light Sc R R __________ 137
Jamestown W estfield Sc Northwestern R R ____ 137 Llm a-H oneoye Falls Light * R I i______________ 137
Janesville (W is.) Traction C o .— See Union R y .,
Lima Sc T oledo T rac. C o .— See Ohio E lec. R y . 33
Gas Sc E lectric______________________________ 46
Lincoln (111.) R y . Sc L t. C o ___•
________________ 137
Jardim Botanico T ram w ay.— See R io do Janei
Lincoln (N eb.) T raction______ _________________60
ro Tram way, Light Sc Power C o ................ ..1 3 6 Ltndell R y .— See United Railways C o ________114
Jefferson C ity Light, H eat Sc P ow er__________ 23
Linglestown & Blue M tn .— Seo H arrisburgRys. 51
Jefferson D ivision.— See Penna. Sc Ohio R y . . 5 Llttlo Falls (N . Y .) Sc Johnstown R R _________ 137
Jersey Central T raction C o ................ ................. 68
Little R ock Railw ay Sc Electric C o ....................... 61
I Jersey C ity Sc Bergen R R .— See C ons. T r a c . C o . 72 L ockport Gas Sc E lectric.— See United Gas Sc
Jersey C ity Harrison Sc Kearney R y . C o .—
83
E le c tr ic C o ..............................................
See Consolidated T raction o f N ew Jorsey___72
L ockport Light, Heat & Pow er.— See United
Jersey C ity H ob . Sc P a t.— See P ub. Serv. R y . . 71
Gas & Electric C o ....... .................................
83
Johnstown Pass. R y .— See Johnstown T r a c .. 55 Lockport & Olcott— See Intornat. T ra ction ___18
Johnstown Traction C o _____ ;_________________ 55
Logan R apid Transit C o .— Seo U tah-Idaho
Joliet R R .— See C hicago Sc Joliet E lectric R y . 93
Central R R _________________________________ 1 1 5
Joliet Sc Eastern T ra ction ______________________ 56 Lom bard & South Street Passenger R y .—
Joplin Sc Pittsburg R y . C o ____________ _____ _ 99
See Frankford Sc Southwark Passenger R y _ _ 96
Lonaconlng M idland & Frostburg R y .— See
J.falamazoo Gas C o .— Soe M ich . Light C o ___47
Cumberland & W esternpdrt_________________ 86
**anawha T raction Sc E lectric C o ______
_ 90 London * Lake Erie R y . Sc T ransportation___133
Kanawha Valley T raction C o .— See Charleston
London & Port Stanloy R y ____________________ 137
Interurban R R _______________________________ 24 London (Canada) Streot R y ___________________ 133
Kankakee E lectric R y ______________________ 137 L ong Island Consol. Electrical C os_____________61
Kankakee Urbana T raction C o _______________ 137 L ong Island Electric R y _______________________ 61
Kansas C ity , C lay C ounty Sc St. Joseph______ 57
L ong Island T ra c.— See Brooklyn R ap . T ra n . 13
Kansas C ity E lev. R y .— See K . O . R y s ______ 56
Lookout M tn . R y .— See Ohatt. R y . & Lt. C o . 69
Kansas C ity K aw Valley Sc Western R y ______ 56
Lorain Sc Cleve. R R .— See Lake Shore E le c .. 31
Kansas C ity Light Sc Power C o ..... ................... 56 Lorain St. R It.— See Lake Shore E lec. R y ____ 31
Kansas C ity Outer B elt Sc E lec. R y .— See
Loramie & M inster Electric R R _______________ 137
“ Railw ay Sc Industrial” Section.
Los Angelas Hormosa Beach Sc R edondo— Seo
Kansas C ity Railways C o ______________________ 66
P acific E lectric R y __________________________ 62
Kansas C ity Sc W estport B elt R y .— See K a n .
Los Angeles P acific C o .— See Pac. E lec. R y ___62
C ity R y s .................. ............................................. 56
Los Angoles P a c. R R .— See Pac. E lec. R y ____ 6 2
Kansas C ity-W estern R y __________________
57 Los Angelos & Pasadena E lec. R y .— See P a
Kansas Electric Utilities C o ...................... ...........60
cific Electric R y ..........................................
62
Kenosha E lec. R y .— See W ise. Gas Sc E lec. C o . 67 Los Angeles R y .— Seo Los Angeles R y . C o r p .. 62
K entucky Securities C orporation....... ............. 60 Los Angoles R y . C orn__________________________ 02
K entucky Traction Sc Term inal C o ___________ 60 Los Angeles & R edondo R y .— Seo P ac. E lectric
67
K eokuk (Iow a) Electric C o ....... ................
R y ..............................................................................62
K eokuk Elec. R y . & P ow .— See K eokuk E l. C o 57 Los Angoles Sc San D iego Boach R y __________ 137
K eystone Utilities C o ____ ________ ___________ 121 Los Angeles T ra c.— See Los A ng. R y . C o rp ___62
K ey W est Electric C o . . ........................... .............58
Louisville Sc Interurban R y .— Soe Louisvillo
Kingsbridge R y . .................................................... 82
R ailw ay___________________________ _________ 62
Kings C o . Elevated— See N . Y . C onsol. R R . . 16 Louisville Sc N or. R y . * Ltg. C o ______________63
K ings C o. T raction— See Nassau E lectric____ 17
Louisville R ailway C om pany___________________62
Kingston C ity R R .— See Kingston C ons. R R . 58 Louisville Sc Southern Indiana T ra c. C o rp _____ 03
Kingston Consolidated R R ............................... .. 58 Lowell & Fitchburg Street R y ....... ..................... 7
Kittanning & F ord C ity— See W est Penn T rac. 103 Lowell Lawrence Sc H aver.— Seo B ay State S t. 11
K noxville R y . & Light C o . . ................................ 58 Low Fare R y .— Soe Cleveland R y ______________ 30
K noxville Traction— See K n ox. R y . & L t. C o . 58 L ynchburg Gas C o .— See L ynchburg T ra c. &
K ok om o M arion Sc W estern Traction C o .— See
Light C o .................................................................. 93
Indiana R ys. & L igh t..... ..................... .............58
Lynchburg T ra c. & Light- __________________ 93
K utztow n Sc Fleetwood Street R y .— See
Lynchburg W ater Power C o .— See L ynchburg
Allentown & R eading_______________________
4
T raction Sc Light C o _________________________93
Lynn Sc Boston R R .— See B ay State St. R y ___11
J ackawanna V ail. T ra c.— See Scranton R y . . 93
^ a c k a . Sc W y o . V ail. R a p . T r. C o .— See
acon E lectric Light Sc R y .— See M acon
Scranton & W ilkes-Barre T ra c___________ 121
R y . & Light C o ................................................. 63
Lacom be Sc BUndman Valley E lectric R y ____ 137 M acon Gas C o---------------------------------------------------- 65
Laconia Street R y __________________
68 M acon Railway Sc Light C o . ___________________63
Lacrosse C ity R y .— See W ise. R y . Sc L t. C o . . 58 M adison C ounty Light Sc Power C o _____________23
Lafayette Sc Logansport T raction— See F t.
M adison (Ind.) Light & R y . C o ________________ 65
W ayne Sc N or. In d . T r a c ____________________43 M adison (W is.) Railways C om pany___________ 65
M ahoning Sc Shenango R y. Sc Light C o . (with
Lafayette Street R y .— See F t. W ayne Sc
Northern Indiana T raction C o _______________ 43
m ap ).— See R epublic R y . Sc Light C o ______131
Lake Charles R y . Light Sc W ater W orks_____ 59
Mahoning Val. S. E .— Seo Rep. R y . & L t ____ 131
Lake Erie Bowling Green Sc N apoleon E le c .R y .137 M aine Railways, Light Sc P ow er______________ 112
Lake Erie Sc Northern R y _____________________ 137 Manchester Sc Derry St. R y .— Seo M a n . T rac.
Light & P ow er______________________________ 65
Lake Erie T rac. C o .— See B u ff. Sc L Erie .T rac 17
Lake Erie Sc You ngstow n.................................... .1 3 7 Manchester Sc Nashua St. R y .— Seo M anch.
Lake R oland E levated— See United R y s. Sc
T ra c., Light & Power C o _______________. . . 65
7 Manchester T raction, Light & Power C o ____ 05
E lectric C o . o f B altim ore__________________
Lake Shore E lectric (C levelan d)___________ __ 31 M anhattan Bridgo (N . Y .) 3-Oent Faro L i n e .. 17
Manhattan Sc Quoens T raction C orporation_01
Lakeside R y ., M ahanoy C ity . P a.— See
Schuylkill T ra ction __________________________ 46 M anhattan R y .— See "R a ilw a y & Industrial
.
S ection ."
Lake Street Elevated R R .— See C hicago S
c
Oak Park E levated R y _____ ________
28 M anila Electric R R . & Lighting C orp ________ 133
M anila Suburban R y s _________________________133
Lake View L . Sc Im pt. C o .— See Canton-Akron
C ons. R y _____________________
2 Manistee R y ___________________________________ 49
Lake View T ra c. C o .— See M em phis St. R y . . 66 M arion B luffton Sc E ast. T rac. C o .— See
M arion * B luffton T raction C o____________
9
Lancaster C ity R R .— See L an. C o . R y . Sc L t.
C o ____________ _________ __________
59 M arlon Sc B luffton Traction C o _______________ 9
L a n ca s te r* Colum bia— S c e L a n c .C o .R y .& L t . 59 M arlon C ity R y .— See Un. T r. o f In d _________ 4
Lancaster C ounty R y . Sc L t. C o _______________ 59 M arlon Railway Light & Power C o ___________ 34
65
Lancaster & E ast. R y .— See L ane. C o . R y . Sc L t . 59 M arion * Suburban R y . C o . . .................
M arket Street C able R y .— See U . R U s. o f S.F .119
Lancaster M echanicsburg Sc N ew H olland—
M arket St. E l. Pass. R y .— Seo Philadelphia
See Lane. C o . R y . & L t. C o ...................... ...... 59
Rapid Transit........................... - .............
95
Lancaster Gas Light Sc Fuel C o .— See Lan
caster C ounty R y . & Light C o . . ....................... 59 M arket St. R y .— See United R R . o f San F ra n .119
M arlboro & W ostboro Street R y.— See W or
Lancaster Petersburg Sc M anhelm — See Lan
cester Consolidated Street R y ______________ 130
caster C o . R y . Sc L t. C o _____________________ 59
M arquette C ou n ty Gas & E le c tr ic C o .— See
Lancaster Sc Quarryvllle Street R y .— 8ee Lan
M ichigan Gas & E lectric____________________ 55
caster C o. R y . Sc L t. C o ____________ _____ _ 69
M arquette C ounty E lectric Railw ay G o_______ 55
Lancaster Sc R o ck y Springs R y .— See Lancas
ter C o . R y . Sc L t. C o ________________________ 59 Marseilles Water Sc Light C o .— Soe Consumers
Water & Light C o ____________________________ 22
Lancaster Sc Southern Street R y ______________ 137
Lancaster Trac. C o .— See Lane C o . R y . Sc Lt 59 Marshalltown (Iowa) L t., Power Sc R y .— Seo
Iowa R y . & Light C o __________,_____________19
Lancaster W illow -St. Lam . Sc Stras. R y .— See
Lancaster C o. R y . Sc L t. C o ________________ 59 Martinez Sc C oncord Interurban R y ____ ______137
Lancaster & Y ork Furnace Street R y _________ 59 M aryland Eloctrlc R ys------------------------------------ 7
50
Lansing Sc Jackson R y .— Seo M ich. Un. R y s . 46 Mason C ity & Clear Lake R R . . ...............
Massachusetts Consolidated R y s ______________ 00
La Porte Sc M ich . C ity R y .— See C h ic. S. B .
& N or. In d . R y ________
.1 2 2 Massachusetts Electric Com panies____________ 11
Mass. Northeastern St. R y ____________________52
Las Vegas Transit C o .— Seo Fed. L t. & T r ___82
Laurel Light & Railway C o ____________________ 59 Mass. N orth. R ys.— Seo M ass. C o n so lid a ted .. 50
Lawrence & Reading— See B ay State St. R y . . 11 Massillon Elec.& Gas C o .— See Oitlos Serv.Oo. 85
M attoon C ity R y . C o ,— See C ent. 111. P . S. Co. 05
L eav. L t.. H t. Sc P ow er C o .— See United Gas
Sc Electric C o ..... ................
83 Maumoe Valley Railways & Light C o .— See
T oledo T rac. L t. Sc P ow _____________________ 87
Lebanon Valley E lec. L t.— See M otr. E d is o n .110
Lebanon Valley St. R y ________________________110 M cG a vock Sc M t . Vernon Horse R R .— See
Nashville R y . * L ight.....................
09
Lehigh N avigation E lectric C o .— See Lehigh
Power Securities C orporation_______________ 3 M eadvllle Sc Oonneaut Lake T raction.— See
N orth Western Pennsylvania R y ___________ 42
Lehigh Power Securities C orporation_________ 3
Lehigh T r a c t io n ....................................
52 M eadvillo (P a.) T ra c.— S eeN orth w . Ponn. R y 42
Lohigh Val. T ra c.— SoelLohigh Val. T ran. C o . 3 Mod Hold & M odw ay Street R y _______________ 137
M odla Glon Riddle & R ockdale.— See Unltod
Lehigh Valley L t. & P ow . C o .— See Lehigh
Powor & Transportation_____________________ 98
Valley Tran. C o ____________________________ 3
06
Lehigh Valley Transit C o. (with m ap )_________ 3 Memphis Street R y . . ................................
M enominee Sc M arinotto Light & T ra c. C o ___137
Leominster & Clinton St. R y .— See Worcester
Cons. St. R y ______ ___________
130 M ercer C o. T raction.— See T rontou Streot R y_120
M erchants’ E loctrlc Light C o .— Seo N ew Or
Leominstor Shirley Sc A yer St. R y .— See F itch
leans Railway C o ____________________________ 75
43
burg Sc Loominstor Street R y ______ ______
Meridon Horse R R .— Seo Connecticut C o ____ 73
Lewisburg M ilton Sc W atsontown Pass. R y ___ 66
Moridon M iddletow n Sc Guilford E lectric R y .1 3 7
Lewiston Sc Auburn E lec. L t . C o .— See An
droscoggin E lectric C o ______________________ 107 Meriden Southington & Oom pounce Tram way
— See Connecticut C o _______________________ 73
Lewiston Augusta Sc W aterville St. R y .............106
Meridian Light & Railway C o ................................ 86
Lewiston Brunswick Sc Bath St. R y .— Soe
Lewiston A ug. Sc W aterv. St. R y __________ 106 M esaba R a ilw a y ..............- ..................................... 127
Lewiston-Olarkston Transit C o _______________ 137 M etrop. Crotestown R R .— See New York R y s . 77
Lewiston Connecting B ridgo— Seo In t. T r a c .. 18 M etropolitan Edison C o -----------------------------------110
Lewiston Sc Youngstown Frontier R y __________ 88 M etropolitan E lec.— See Roadlng T r. & L t.C o.1 0 9
Lewistown Sc Keedsvillo Electric R y _ ..................60 M etropolitan R R .— See Wash. lly . Sc E lec— 127
M etropolitan St. Ity. (N . Y .) .— Soe N .Y .R y s . 77
Lexington Avenue Sc Pavonia Ferry R y .—
Soe New York R y s ___________________________ 77 M etropolitan W est Sido Elov. R y . (C hicago)__27
M oxlcan Light & Power, L td _________________ 137
Lexington & Boston St. R y .— See M iddlesex
Sc B oston_____ ____________
10 M exico Santa Fo Sc Perry T ra ction ___________ 137
Lexington Ice C o .....................
60 M exico Tram ways C o _________________________137
Mlamisburg & Germantown.— Soe Cincinnati
Lexington Sc Intorurban R y s.— Soe Kentucky
Securities Corporation_______________________ 60
Sc D a y ton ____________________________________ 34
M
S e p t .. 1918. |
141
INDEX TO RAILWAYS
Page.
Page.
Omaha Sc Council Bluffs Street R y----------------90
New Orleans Sc Carrollton R R . Light & Power
Omaha Council Bluffs S Suburban Ry.— See
c
C o.— See New Orleans Ry. S L t----------------75
c
Omaha S Council Bluffs Ry. & Bridge C o .. 90
c
New Orleans City R R .— See N. O. R y. & L t. 75
c
New Orl. City & Lake R R .— SeeN. O. Ry.&Lt 75 Omaha & Lincoln Ry. S Light Oo----------------- 90
Omaha Lincoln S Beatrice Railway C o--------- 61
c
New Orleans Gas Light Co.— See New Orleans
Omnibus Cable Ry.— See United R R s.of S. F.119
Railway Sc Light_ - ______________________75
_
Oneida Railway Co.— See N. Y. State Rys— 111
New Orleans S Grand Isle Traction, Light S
c
c
c
Power
_________________________________ 137 Oneonta S Mohawk Val. R R .— See Southern
N. Y. Power Sc Railway C o----------------------34
New Orleans S Pont. R R .— See New Orleans
c
Ontario Sc San Antonio Heights.— See Pacific
Railway S Light---------— -------------------------- 75
c
Electric R y . .....................
62
New Orleans Ry. S Light C o---- . . . . . . . . -------75
c
Ontario Light & Trac.— Seo N. Y. State Rys— 111
New Orleans Traction Co.— See New Orleans
Railway & Light------------ — ------ ^ ---^ 7 '* . ‘ 7 5 Orange County Traction C o----------------------------87
Orange S Passaic Valley R y -------------------------- 73
c
Newport S Dayton Street R y.— See Cincin
c
107
nati Newport S Covington-------------------------- 35 Oregon Electric R y ._ ----------c
137
Newport Ilium.— See Newport S Fall R iv er.. 12 Orleans-Kenner Electric R y ------------c
Newport St. R y.— See Newport Sc Fall River. 12 Orleans RR.— See New Orleans Ry. & L igh t.. 75
Newport S Fall River Street R y ................
c
12 Orono Water Co.— See Bangor Ry. & Elec. Co. 7
Oskaloosa Trac. & Light Co.— See Des Moines
Newport New* & Hampton R y., Gas & Elec.
& Central Iowa Electric C o-------------------------- 22
C o_________________________________________51
Ottawa (Canada) Electric Railway---------------- 134
Newport News S Old Point Ry. S Elec.— See
c
c
Newport News & Hamp. Ry. Gas & Elec.Co. 51 Ottawa Traction Co., L t d ---------------------------- 134
Newport S Providence R y___________________ 87 Ottumwa Railway & Light C o------------------------ 90
c
Newtown Ry.— See N. Y. S Queens C o. R y .. 61 Ottumwa Traction & Light Co.— See Ottumwa
c
Railway & Light C o-----------------------------—- 90
New Williamsburg S Flatbush R R .—See
c
Brooklyn Rapid Transit__________________ 13 Owensboro City R R --------------------------------------- 42
New York City Interborough Ry. C o_________ 82 Oxford Electric C o----------------------------------------112
New York Consolidated R R . . . ...................— 16
acific Coast Power.— See Puget Sound Trac.,
New York S Harlem R R ____________________ 79
c
Light & Power-------------------------------------- 121
New York S Long Island T ra ction ------------------61
c
New York Municipal Ry. Corp. (with m a p ).. 17 Pacific Electric R y----------------------------------------- 62
Pacific Gas & Electric Oo. (with map)----------- 117
New York Now Haven S Hartford R y -----------73
c
New York S North Jersey Rapid Transit------- 137 Pacific Northwest Traction Co.— See Puget
c
Sound Traction, Light & Power Co------------- 121
New York S North Shore Traction (Roslyn) -.112
c
Pacific Traction C o.— See Puget Sound Trac
New York S Port Chester R y.— Seo New York
c
tion, Light Sc Power------- -------------— — ...1 2 1
Westchester & Boston____________________ 75
New York S Queens County R y. (L. I. C ity ). 61 Paducah City R y. Oo.— See Paducah Traction
c
& Light Oo____________________
90
Now York Railways C om p an y______________ 77
New York Stato Railways (with m ap)---------- 11 I Paducah Streot Ry.— Seo Pad. Trac. Sc Lt. C o . 90
c
New York S Stamford R y __________________ 75 Paducah Traction S Light C o------------------------ 90
c
New York Westchester S Boston R y-------------- 75 Pan Handle Trac. Co---------------------------- — -104
c
N. Y . Westchester Sc Conn. Trac. C o ------------ 137 Parkersburg Marietta Sc Interurban R y.— See
Kanawha Traction S Electric C o . . . . ------ 90
c
Niagara & Erie Power— See Buff. Sc L. E. T r. 17
Niagara Falls Park S River— See Int. T ra c.. 18 Parkersburg (W . Va.) & Ohio Valley Electric
c
By
.................
-137
Niagara Falls S Suspension Bridge Ry.— See
c
International Traction____________________ 18 Park & Ocean R R .— See United Railroads of
San Francisco--------------- - — - ------— -------- 119
Niagara Falls Whirlpool S Northern R y.— See
c
International Traction____________________ 18 Park. Pt. Trac. Co.— Seo Dul.-Sup. T r a c ... 40
Parkside Elec. R y.— See San
Monongahela Stroot Railway. -----------------------102 Niagara Gorge Ry. (Electric)_________________ 87 Parr Shoals Powor Co.— SeeFran. Elec. R ys. 119
Columbia R y..
Niagara St. Catherines S Toronto R y ------------- 133
c
Monongahcla Valley Traction C o . . . — - ----- 43
Gas & Electric C o -----------------— - - - - - — 32
Nichols Electric Light Sc Power— .........
70
Monterey S Pacific Grove Ry.— See Coast
c
M t. Lowe Ry.— See Pac. El.
Valley Gas & Electric C o......................... — 119 Ninth Avenue R R _______ _______ _________ - 79 Pasadena & Street Railway Sc Power C o .R.y ... 62
Pascagoula
. . . 91
Monterey (Mcx.) Railway. Light & Power
137 Norfolk & Atlantic Terminal— See Va. R y. &
Passaic S Newark El. Tr.— See Cons. Trac. Co 72
c
HO
Power C o......................................
Montgomery Co. Pass. Ry.-See Schuyl. V.T.r.109
Passenger & Belt R y .-S e e Ky. Trac. & Term . 60
Montgomery Light & Traction C o. — - - - - - - 6 8 Norfolk Central St. R y.— See W. Rox. Sc Roslindale St. R y _____________________________ 11 Paterson City Ry.— See Public Service R y . . . 72
Montgomery (Pa.) Traction Co.— See Lehigh
c
Valley Transit.................. ............ - ................. 3 Norfolk S Bristol Streot R y ------------------------- 44 Paoerson & Passaic Gas & Electric Co__._------71
Paterson Railway.— See Public Service R y . . . 72
Norfolk & Portsmouth Trac. Co.— See Va.
Montgomery Street Ry.— Soe Montgomery
c
Ry. & Power C o__________________________ HO Paterson S State Line Traction C o . . . . . . . ---- 73
(Ala.) Light & Traction Co________________ 6 8
c
Montgomery (Ala.) Traction Co.— Seo Mont
Norfolk (Va.) Ry. S Light..................................I l l Pawtucket St. R y.— Seo United Trac. S E lec. 74
c
gomery Light & Traction C o-------------------- 6 8 Norfolk Streot R R .— Seo Norf. Ry. & Lt. C o . I l l Peekskill Lighting & Railroad---------------------- 91
Pelham Park & City Island................................. 82
Montgomery Transit & Light C o--------- --------- 137 Norfolk Sub. R R .— See W. Rox. & Roslin. R y. 11
Pelham Park Railway-----------------------------------437
Montoursvlllo Passenger R y----------------------------6 8 Norristown Pass. R y.— See Schuylkill Valley
Montpelier & Barre Light & Power................... 8
109 Peninsular Railway-------------------------------------- 120
T ra ctio n ...................................................
P o w e ..------- ...-----....1
Montreal Public Service Corporation-------------133 Norristown Trans. C o.—See Leh. V . Trans.Co. 3 Pennsylvania Light & Eastonr Cons. Elec. C o. 0 3
4
Montreal Street R y.— Seo Mont Tramways.. 133 North Alabama Traction C o-------------------------- 137 Penn Motor Co.— Seo
c
Traction Co.
Montreal Tramways C o --------------------------------133 Northampton Street R y ------------------------ -— 8 8 Pennsylvania S Mahoning Valleyo— -------------131
—See Republic Ry. S Light C
c
Montreal Tramways & Power C o------------------ 133 Northampton Sc Amherst St. R y.— See ConMontvlllo St. Ry.— See Shore Line Elec. R y .. 8 8
nectlcut Valley St. R y.............................. —- 50 Pennsylvania-New Jersey R y. C o . . . ----------- 87
Pennsylvania Utilities Oo.— See Railway and
Moose .law (Sask.) Electric R y--------------------- 137 Northampton Easton & Washington Traction
Industrial” Section.
Morgantown & Wheeling R y ------------------------ 137
— See Northampton Traction C o------------------41
Pennsylvania S Ohio
c
Morningsldo Electric Street R y--------------------- 102 Northampton Traction Co.(Easton, P a.)------- 41 Penn Street PassengerR a i l w a y .. ...... — - — 5
R y. (Pittsburgh).— See
Morris County Traction Co...............................6 8
North Branch Transit C o ----------------------------- 137
Citizens’ Traction............................................. 102
Morris R R .— See Morris County Trac. Co____ 6 8
North Carolina Public Service C o ------- — — — 51 Penn Yan Sc Lako Shore Railway------- — ------ 137
Morristown Gas Light C o------------------------------- 71 North Hudson County R y.— See Public
Service R y ........................... .
72 Pensacola Electric Terminal R y.— Seo Pensa
Mountain Lake Electric R It------------------------.137
cola Electric C o----------------------------------------- 91
M t. Hood Ry. Sc Powor.— Soe Portland R y.,
North Jersey St. R y.— See Public Service R y . 72
C o------------91
Light S Powor C o------------------------------------ 107 North River R y.— See HudsonValley R y ------------- 3 Pensacola Electric Oo----------------------------- -— <3
c
People’s Elevating
M t. Oliver Incline Plane Ry.— See P. & B.
Northern Cambria Streot R y .................. ..........91
People’s Gas S Electric Oo. (Burlington).— See
c
Traction S ystom ..------- ---------------------------- 101 Northern Central Gas C o.— Seo Lehigh Power
Burlington Railway & Light C o--------------------19
M t. Washington Street R y---------------------------- 101
Securities Corporation____________________
3 People's Gas S Electric Co. (Mason City).—
c
M t. Vernon (O.) Elec. St. R y ..........................137 Northern Electric Strjaet Ry. (Scranton).— See
Seo United Light & Railways C o- - - - Mousam River R R .—See Atlantic Shore R y .. 67
Scranton & Btnghampton R y ------------------- 8 People’s Lt., Pow. S R y.— See Paducah -Trac 4 9
c
Muncle Hartford & Ft. Wayne Traction Co.—
Northern Illinois Light & Traction C o ............. 23
tion S Light Co
c
- - ......................................... 90
See Union Traction Co. of Indiana............... 4 Northern Indiana Ry.— See Chicago South
Passenger Railway--------------- • ------Muncie & Portland Traction C o.— See Ind.
Bond & Northern Indiana R y --------------------122 People’s R R .— See New York State Railways.9*l l
People’s
I
Newcastle & Eastern Traction C o________ 5 Northern Massachusetts Street R y ------------------50
- — — ----Muncie & Union City Trac. Co.— See Union
Northern Ohio Electric Corporation-------------- 2 People’s R y. (Dayton, O.) —Del.— See — - — 93
Wllm.
Traction Co. of Indiana----------------------------- 4 Northern Ohio Trac. & Light C o------------ at.-.' 2 People’s R y., Wilmington,
& Phila. Traction C o----------------- - ------------- 94
Municipal Service C o--------------------------------------98 Northern Ohio Traction— See Northern Ohio
People's Street Ry.— Soe Scranton R y .— - — 93
Muscatine & Iowa City R y -------------------------- 137
Traction & Light G o------------------- • — —
—
2
People’s Street Ry. (West Newbury. Mass.)—
Muskegon Traction & Lighting C o.............
6 8 Northern States Power Co.— Fargo Sc Moor
Seo Lowell Lawrence & Haverhill-------------- H
Muskogee Electric Traction C o-----------------------6 8
head Division.....................- -----------------------43
Poople's Traction
Myersvflle S Catoctln Ry.— See Hagerstown
c
Northern Texas Electric C o------— ------ — -------- 44 People’s Tramway(Philadelphia, Pa.)----- --------- 97
Co.— Seo Connecticut C o ._
& Frederick R y ---- --------------61 Northern Texas Trac.— See Nor. Texas E le c .. 44 Peoria Bloomington S Champaign Trac. Oo.— 73
c
Northumberland County Gas S Elec. C o.— See
c
Mvsrii Valiev St. Ry.— See Bay State Streot
See St. Louis Springfield S Peoria.. — . — 23
c
Lehigh Power Securities C o .............
3
Railway............................ ..................it..........- 11
c
Northumberland County Traction C o----------- 137 Peoria Gas S Electric C o — See Union R y..
Gas & Electric C o____________ — - - - - - - - - - 46
Northwestern Electric Scrv. Co. of Penna------42
{VTarragansett Pier R R ----------------- -------------- 75
E.
t'ashua Street R y .............
69 Northwestern Elevated (Chicago)------------------- 28 Peoria Light Co.— See Union Ry.. G. &See Co 46
St.
Northwestern Ohio R y. Sc Power Oo---------------106 Peoria Lincoln & Springfield Ry.—
Nashville Sc Edgofleld RR.— Soe Nashville Ry.
Louis Springfield Sc Peoria------------------------23
& Light Co.........................................................69 Northwestern Pennsylvania R y-----------------------42 Peoria Railway C o------- - - - - - - - - 23
c
.137 Peoria Ry. Term. Co.— See “ Ry. Sc Ind. Sec.
Nashville Railway Sc Light Co------------------------ 69 Norton Taunton S Attloboro Stroot Ry
c
Nashville St. Ry.— See Nashv. Ry. S Lt. C o . 69 Norwalk Gas Sc Electric Co.— See Cleveland S
c
Southwestern Sc C o l u m b u s . . . . . . - . - - - - - - - 30 Perry Street Passenger R y .-S e e Federal
Nashville Traction___________________________ 70
Street
Ry.......................101
Nassau Electric R R ---------- -------------— --------- 17 Norwich Street R y.— Soe Shore Line Elec. R y . 8 8 PetalumaSc Pleasant Valley----- -------------- & Santa Rosa R y
y1
Norwich S Westerly Traction Co.— See Shore
c
Natchez Electric St. Ry. Sc Power Co.— See
Philadelphia Bristol & Trenton Passenger Ry.
Southern Ry. & Light_____________________ 70
Lino Electric R y . . . ............
88
— See Trenton
c
Street R y— 98
Norwood Canton S Sharon Street R y .........— 137 Philadelphia CityBristol S Phila.--..................... 9 /
c
Natick & Cochituate Stroot Ry.— See MlddloPassenger
c
sez & Boston Streot R y____________________ 10 Nova Scotia Tramways S Power Oo----------132 Philadelphia Co. (Pittsburgh. R y
P a.)..................... 99
National Properties C o _________ __________ _ 92
Darby
--------------------- 97
akland Antioch S Eastern------------------ ------— 89 Philadelphia & Easton R y . . .R y—- - - - - - - - 40
c
Neptune Elec. C o.— See Atl. Coast Elec. Ry
O akland Gas Light Sc Heat Oo.— See Cali
Philadelphia Sc
Electric
Nevorslnk Mountain R y.— See Read. Trac. &
Philadelphia & Garrottford St. Ry. Co.— See
fornia Gas Sc Electric Corporation----------117
L igh t_________ ________ _________________ 109
Philadelphia S West Chester Traction.------95
c
c
New Albany St. Ry.— Soe Lou. & So. Ind. I'r. 63 Oakland San Leandro S Haywards Electric—
Philadelphia & Gray’s Ferry Passenger R y — - 97
See San Fran.-Oakland Terminal R y --------- 88
Newark Consolidated Gas C o . . . . -------—-------- 71
Philadelphia & Lehigh Valloy Traction.— See
Oakland Term. C o.— See San Fran.-Oak.Term. 88
Newark Gas Co.— See Newark Consolidated
Lehigh Valley Transit Co-------------------------- 3
Oakland Trac. Cons.— See San Fran.-Oak.
Gas.................................. ..................................71
Newark Sc Marion Ry. (New York)---------------137
Term inal-------------------------------- -------- —— 88 Philadelphia Railways C o .—----------------------- 98
Philadelphia Rapid Transt C o—.....................- 95
Newark Pass. R y ___ _______ ________ . . . . — 72 Oakland Traction Oo.— See San Fran.-Oak.
Traction...........- —— - --------------Newark Plank Road.— See Cons .Trac. o f N. J. 72
Term. Rys___________________________ — - - 88 Philadelphia & West Chester Traction.............95
Philadelphia
New Bedford & Onset Street R y------- - ------ •- 73 Oakland Transit C o.— See San Fran.-Oak.
Sc Western R y—- -------- o?
New Bedford Middlob. & Brockton.— See Old
Terminal Rys---------------------------------------------88 Philadelphia & Willow Grove Street Railway. 97
Philadelphia
Oalcwood Street Ry. O o....................... - - - - - - - 36 PhoonixvLlle Valloy Forge & Strafford El. R y.137
Colony Street R y ________________ — _____ 11
Ogden Lako & Idaho R R .— See Utah-Idaho
New Brunswick Light. Heat & Power C o------71
Piedmont A Northern Railway-------------------- 24
Central R R -------------------------------•
—— — — -115 Piedmont Railway Sc Electric Oo--------- ----------137
New Brunswick Power Co................................ 137
Newburg Electric R y.— Seo Orango Co. Trac. 87 Ogden Rapid Transit Co.— Soe Utah-Idaho
Pine Bluff (Ark.) C o——------Nowburg & Orange Lako R R .— See Orango
Central R R ...............- ......................................H5. Pitcairn Sc Wilmerding Street Ry.— See M on 99
County Traction_______ _________ _______ - 87 Ogdensburg Street R y --------- . . . . . . . . . . . . . . 1 3 7
ongahela Streot R y---------------------- - — -.—
Ohio Central Traction— See Cleveland South
New CastloElectric Oo.— Soe Itop. Ry. & Lt.
C o . . . ............................................................... 131
western Sc Columbus R y ------------------------------30 Pittsburgh Allegheny & Manchester Traction.
—See United Tractlqn System-,—— - —.101
New Castle Trac— See Republic R y.& Lt.Co_131 Ohio Electric R a ilw a y ........................................ 33 Pittsburgh & Allegheny Valley Traction Co.—
Now England Investment & Security C o.........130 Ohio River Electric Railway & Power----------- 104
See West Penn T ra ctio n
137 Pittsburgh & Beaver Street ..............................193
New Hampshire Electric Railways........ ............ 52 Ohio Service O o-------------R y..................- - New Haven & Oentr. St. R y.— Seo Conn. C o . 73 Ohio Traction O o-------------------------------------------29 Pittsburgh & Birmingham Passenger R y.— Seelu3
. . . . . 94
Now Haven Street Ry.— Seo Conn. C o----------- 73 Ohio Valley Electric R y...................
Pittsburgh & Birmingham Traction----------- 101
Oklahoma Electric Term. Go.— See Okla. R y . 89 Pittsburgh & Birmingham T raction---------------101
New Holland Blue Ball S Torre Hill St. R y . c
See Lancaster Co. Ry. S Lt. C o___________ 59 Oklahoma Railway C o........................................... 89 Pittsburgh Canonsburg & Washington R y ------101
c
Oklahoma Union Railway...................... — ....... 137
New Jorsey Sc Hudson River Ry. S Ferry------73
c
fc
R y-----------------New Jersey Sc Pennsylvania Traction........... .126 Old Colony St. R y.— Seo Bay State St. R y . . . 11 Pittsburgh < Charleroi Street Choctaw Power 101
Pittsburgh County Ry.— See
Olean Rock City S Bradford R y.— See Westc
Now Jersey Traction—See Con. Trac. Sys----- 72
S Light C o...........: ......................................... 63
c
orn Now York S Pennsylvania Traction------89
c
Now London & East Lyme St. Ry.— See Shore
c
Line Electric R y ___________________________ 8 8 Olean St. R y.— See W wt. N. Y. *c Penn. Trac. 89 Pittsburgh Crafton S Mansfield Street Ry.— 100
See Pittsburgh Railways Co---------------------Oley Valley R y.— See Reading Tr. & Lt. C o ..109 Pitts. Harmony Butler S Now Castle St. R y — 104
New London Streot R y.— See Shore Line
c
Omaha S Council Bluffs Ry. S Bridge............... 90
c
c
Electric R y . . .............................
88
Page.
Michigan City Traction Co.— See Chicago
South Bond Sc Northern Indiana__________ 122
Michigan Gas S Electric C o__________________ 65
c
Michigan Light C o------- ---------------------47
Michigan Railway C o ------------------------------------ 40
Michigan Traction.— See Mich. United Rys._ 48
Michigan United Uys. C o.— See Michigan Rys 46
Mid-Orosstown Railway C o________________ 82
Middlob. Wareham & Buzzard’s Bay St. Ry.—
See New Bedford & Onset Street R y _______ 73
Middlesex & Boston Street R y ._ ------- ----------10
Middlesex Electric Light & Power C o...........- 70
Middlesex & Somerset Traction.— See Public
Service R y ........................................................ 71
Middletown (Conn.) St. R y.— See Conn. Co__ 73
Middle West Util Co.— See “ Ry. and Ind.“ Soct.
Midland Valley R R ............................................. 137
Milford Attleboro & Woonsocket St. Ry--------130
Milford Hollis ton & Framingham St. Ry.— See
Milford & Uxbridgo Street R y______________ 6 6
Milford & Uxbridge Street R y________________ 6 6
Miller’s River Street I i y ..............................- — 50
Millvale Etna & Sharpsburg Street R y.— See
Allegheny Traction________________________ 1 0 2
Millville Traction____________________________ 6 6
Milwaukee Electric Railway * Light-------- — 67
Milwaukee S Fox River Valley R y.— See She
c
boygan Electric C o........................................... 122
Milwaukee Light, Hoat & T ra ction ...........— bb
Milwaukeo Northern R y ______________ — — Milwaukee. St. Ry.— See Milw. Elec. Ry.& L t. 67
Milwaukeo Western Electric R y-------- —------ 137
Minneapolis Anoka Sc Oayuna Range R R ------ 117
Minneapolis Northfleld & Southern----------------b»
Minneapolis Street & St. Paul City Railway.—
See Twin City Rapid Transit . . . . . . . . . . . . 67
Minneapolis & St. P. Sub.— Seo Twin O. R . 1 - 67
Minneapolis St. R y.—See Twin City Rap. rr 67
Minnesota Central R y______________ - ______ 147
Mississippi Valley Railway S Power C o..........112
c
Missouri & Kansas Interurban R y------------------57
Missouri Electric RR------- .--------------------------- l i e
68
Mobile Light & Railroad----- Mobile Streot R R .— See Mobile Light S R R - 6 8
c
Mohawk Valley Co.— See N . Y . State R y s ...111
Monmouth County Electric.. -..................... - bi
Monocacy Valley Ry.— See Hagerstown &
P
142
INDEX TO RAILWAYS
[Vol . 107.
P i t t s b u r g h I n c l i n e P l a n e .— See P i t t s b u r g h to*0*
Rochester City & Brighton— See N . Y . State^
B i r m i n g h a m T r a c t i o n S y s t e m _______
101
m
R y s----------------------------------in i
P i t t s b u r g h M a r s & B u t l e r R y ................
Rochester-Corning-EImira Traction C o............1 3 7
P itts b u r g h M c K e e s p o r t & C o n n e lls v llle R y l—
Rochester Elec. R y.— Seo N. Y . Stats R y s .I I I l 11
S e e W e s t P e n n . R y s . C o ________________________
103
Rochester A Man!tou R R ____
no
P itts b u r g h M c K e e s p o r t A G re e n s b u rg R y ” ” l 0 3
Rochester Ry. & Light— See N. Y . S t a t i'R y s 'lll
P itts b u r g h R a ilw a y s C o
in n
Rochester R y.— See N. Y . State Rys
ill
P i t t s b u r g R R . ( K a n . ) — S e e J o p l i n ' * P i t t s '. R y I
Rochester & Sodus Bay R y.— See N . Y . State
P it t s b m g (K a n .) R y . & L ig h t C o .— S e e J o p
R ys----------------- ---------------i__
in
lin & P i t t s b u r g R y _________
no
Rochester & Suburban Ry.— See N . Y .'State
P i t t s b u r g T r a c t i o n ................
102
„ R ys_______________
in
P 1^ S uI B h * W e s t E n d P a s s e n g w S e e
Rochester Syracuse & Eastern R R .— See E m
Scranton A Pittston T r.— See Scranton R y .f f ' 9 3 Scran ton A Wilkes-Barre Traction
121
Scranton R y .....................
...........l n->
Sea Beach Ry.— See N. Y . C o n io f.'R R lI I I I I 16
Sea Coast Traction— See Atlantic Coast E lec.. 8
Seashore Eloctric R y., Asbury Park— See At
lantic Coast Electric R y_________________
5
Seattle Electric Co.— Seo Puget Sou'ud Trac.I
Light & Powor_______
121
Seattle-Everett Trac. Co.— S'eo'p'uge't's'ou'n'd *
Draction, Light * Powor. _ .
121
Pittsburgh Railways C o______________
inn
pire State Railroad Corporation
124 Seattle Ry.— See Puget Sound Traction,'Light 121
& Power______________________
P itt s fie ld ( M a s s .) E le c tr ic S t r e e t " R y '— S ee
125
Rochester & Syracuse R R _______________
Seattle* Rainier Valley Ry
122
B e r k s h i r e S t r e e t R y __________________________________ 7 5
Rockford Beloit & Janesvillo R R .— See Unfon
P itts to n & S c r a n to n S tr e e t R y .— S ee S cra n to n
Railway, Gas & Electric C o___________
46 Soattio-Tacoma Power C o.— Soo Puget Sound 121
K y . C o -------------------------------------------------------qo
Traction. Light & Powor_________
Rockford City Traction C o.
1 3 7 Sea View R R _______
"
7e
P itt s t o n S tr e e t C a r .— S e e W ilk e s b a r r e & W v o Rockford & Freeport Electric R y.— See Union
Second Avenuo RR. (Now Y ork)- ..................... 7 9
in g V a l l e y T r a c t i o n S y s t e m ____________________ 1 2 9
Railway, Gas & Eloctric C o...............
46
P la in fie ld G a s & E le c t r ic C o .— S e e S o m e r s e t
Second Avenuo Traction—Soo Unitod'aVa'c'tlonlOl
Rockford A Interurban R y.— See Union Rail
Second A Third Streets Passenger R y ____ __ 9 7
U n io n & M id d le s e x L ig h tin g
71
way. Gas & Electric C o_______________
46
P a n fl e ld S t . R y . — S e e P u b l i c S e r v i c e R y ” ”
72
Sedalia Lt. A Trac. Co.— See City Lt. & Tr.Co. 8 6
Rock Island Southern Railroad____
68
P l a t t s b u r g T r a c t i o n C o ________
ir u
122
Selma Traction C o__________________
Rock Island Southern Railway— See Miss!
P ly m o h th B r id g e C o .— S e e W O k i b a r r e ” *
97
Valley Ry. & Power C o______
1 1 2 Seventeenth & Ninoteonth Streets Pass! ltv ”
W y o m i n g V a l l e y T r a c t i o n _________
120
Seventeenth St. Incline Plano C o____
192
Rockland A Abington Street Railway— See
P ly m o u t h & S a n d w ic h S tr e e t R y
' ................1 3 7
Shamokin & M t. Carrnol Transit C o___
122
11
So. Shoro & Bost. St. R y _____
Canton * Norwood Street Ry
Rockland Thomaston & Camden Street R y
112 Sharon & Newcastle Rys.— See Ropubllc Rail 1 3 7
pS!fc»dE t e & o o S“ li<,puwl0 R r ' 4
Rockport Street R y.— See Bay S tate..
n Sharon & Light_______________________
131
way
Rockville Broad Brook & East Windsor St.
22
By-— See Hartford & Springfield St. Ry
125 Shawnee-Tecumsoh Traction b oW isc.'Sec.'bo. 1 50
D e tr o it & P o r t llu r o n S h o ro L in o
39
Sheboygan Gas Light Co.— See
Rohrerstown Landisvillo & Mt. Joy R y __See
P o r t J e r v i s T r a c t i o n C o ................
100
Sheboygan Electric Co.— Seo Eastern WisLancaster County Ry. & Light Co
59
consln Electric C o.
.
_
J2 2
™ P a P ^ ? 1I z V ? y '~ ^ S e e P o r t l a n d R R l 1 0 0
Rome (Ga.) Railway & Light C o____________ 1 1 2 Sheboygan R y.& Eloc.— SooEast'."w.'E7Co” l22
P o r tla n d ( M e .) E le c . C o .— S ee C u m b . C o u n ty
Roxborough Chestnut Hill & Norristown R y l 110 Shenandoah Traction C o__________________ 1 3 7
106
P o w e r & L i g h t ____________
Rutland City Elec. Co.— See Rutland R y., Lt.
Sherbrooke (Que.) Railway A Power____ I 134
P o l a n d E u g e n e & E a s te r n R y .— S ee S o u th e rn
& Powor C o___________________________
114
Lighting C o
.
” 72
P a c i f i c C o . in “ R a i l w a y & I n d u s t r i a l '' S o c .
Rutland Railway, Light & Power. _
' i l l Shore Lino Eloctric .. R ____” ” ” ” ” ”
Shore
R
fg
P o r tla n d G e n e r a l E le c tr ic C o .— S ee P o r tla n d
Rutland St. R y .— Seo Rutland R y ., Lt. A P .C oI 114 Shoro Lino Eloctric Ry. (Connecticut).
R a ilw a y , L ig h t & P o w e r b o _ _
107
8*8
Shrovoport Railways C o...............
122
P o rtla n d & O regon C ity R y
127
Cacramento Electric Gas * Railway— See
P o r t l a n d ( M o . ) R R _______
106
Sierra * San Francisco Powor b o . __I I ”
119
“
California Gas & Elect. Corporation..
117
137
P o r tla n d R y . C o .— S e e P o r t l a n d ''R y '.'L i g h t
1 2 0 Sioux City Crystal Lako & Homo Elec. Ry
& Power.
Sioux City Service C o_____
” l22
_
107 Sacramento Northern R R ______
Short Line R
Portland Ry., L ig h t* Power b o -______11111107 SacramentoTerminal Rys y.— Seo San’ Fran.- oq Sioux City Traction— Soo Sioux" O iT y 'S e f'
Oakiand
Portland (Conn.) St. R y.— See Conn. C o_ ' 73
_
Sacramento Valley Eloctric R R ...............
1 3 7 Sixth Avenuo'RR” ” I ” ” ” ” ”
.............1jn
Portland & Yarmouth Elec. Ry.— See Port.RRIOG Saginaw-Bay City Railway........... ................. 4 7
Slate Beit Eloctric Street Ity.
91
Porto Rico Rys. C o., Limited
134
Saginaw Valloy Traction— Soe Saginaw-Bay
Slatlngton St. Ry.— See Lehigh Vafley'Tran”
3
Portsmouth Dover & York Street'R'y'.— See
47
City Railway_________ ______________
Atlantic Shore Ry
_
57
Snydor Avo. St. Ry.—Soo Phila. Rap. T ra n ll 95
St. Albans & Swanton Trac. C o . . I 'I I
114
Portsmouth & Exeter"St.' ' B y I— See 'N ew
St. Charles Street R R .— Seo Now Orl.RysICo'. 75 Somerset Lighting Co.— Seo Somerset Union 71
& Middlesex Lighting Co__
Hampshire Electric.
ro
St. Francois County Electric_____________
137
Somerset Union & Middlesex Lighting C o l l '" 71
Portsmouth Kittery & York'Street'Ry'.— See
John (N.
137
Atlantic Shore R y ..
c 7 St. JohnsburyB.) R y __________
Somerville Horse R R .— Seo West End St. Ry 1 0
St.
Elec. C o.— See Twin StatesGa's
South Bond & South. Michigan lty.— See
Portsmouth (Ohio) Street R R .& Light Co
107
& Electric C o________________ _______ _____ 12
Southern Michigan R y ___
123
Potomac Elec. Power Co.— See Wash.Ry. & E.127 St. Josejph R y., Light, Heat A Power (M o .).'I 8 6
South Bethlehom Eloctric lig h t ' Co .— Soe
Pottstown & Phoenixville Ry
1 3 7 St. Louis Decatur A Champ. Ry.— Soe BloomLehigh Valley Transit C o __________
3
x w S e & Peading Ry.— See ETPenn. R y ii:i0 7
tngton Decatur & Champaign______________ 21
Pottsvillo Union Traction.— Seo E. Penn. Rys. 107 St. Louis East Side Belt Line Terminal R y _ 137 South Bro6 Ulyn Ry.— Soe Brooklyn R a p .'T rl 13
_
South Chicago City R y.— Soo Cal. ASo.Ch.Uy. 26
St. Louis Elec. Bridge Co ._
23 South
Power & Ry__ .
St. Louis Elec. Terminal Ry. O o I I I I I I I I I I I I 23 South Carolina Light,Cin. St. R y.— See. Oln- 123
Covington &
Grant Park Elec. R y _
35
clnnatl Newport & Covington R y_______
Powell Street R y i-S e e O n lt& R Ra. o f S .F " ' 119 St. Louis Lakewood & .— See United R y e.C o.Il 3 7
S t.L .* Mor.River R R
114 South Ferry— See Broadway & Soventh Ave
78
Power Transit & Light (California)— See San
St. Louis A Northeastern Ry.— Soe St. Louis
Traction______ I 71
Joaquin Light & Power Corporation_____
44
Springfield & Peoria_____________
23 South Jersey Gas. Electric & Traction
Presidio & Ferries R R .
I 9 n St. Louis R R .— See United Rys. C o .I I I I I I I I l 14 South Orange * Maplewood
' 72
.........
vo St. Louis
Princeton Lt., Ht. & Pow. Co
South Shoro & Boston St. Ry.— Soo Bay's't'a'to
Charlos Bridgo C o______
Street R y ___ _____
n
Prospect Park * Coney Island R v .................... 17 St. Louis A St.Charles * Western R R .— See 1 1 5
St.
South Shoro (L. I.) Traction C o_ ” ” ”
_
137
Providence & Danielson Ry
............. "
7=
115
Missouri Electric R R ___ __
South Side Elevated R R ., Chicago___
28
Providence & Burrillvllle Str'eet” Ry.— See
St- ri°,ul.s A Spring. R y.— Seo St. Lo'uis'SpfingSouth
103
Rhode Island C o ..
74
field & Peoria........................... .
23 South Sido Gas C o________
West Misiourl Elcctrfc Ryl—"Seo South
£ -2 V !onco Securities Co.— s'e'e'Rhode IsL C o l 7 4 St. Louis Springfield & Peoria R r I I I I
JC
23
West Missouri R It________________________ 1 2 9
Sf,nndSnce,& T ? un' Sfc•Ry-— See Globe St. Ry 11 St. Louis* Suburban Ry.— See U nltodRyg'.CoIll’l South West Missouri Railroad.. _
109
Pub c Service Company o f Oklahoma. . .
1 3 7 St. Louis Transit— See United Rys___
114
P c ' c Service Corporation (with map)____I ” 70 Sti Paul City R y.— See Twin City Rap. TranI 67 South Yuba Water Co.— Soo Pac. Gas&El C o ' l l 7
Public Service Gas C o_
_
7V
Southeastern Ohio Ry. (Zanesvillo, O h io)__.Il 3 7
137
St. Paul Southern Electric R y____________
82
Public Service Electric C o .. I I ............................. 7 0 St. Tammany * New Orleans Rys. & Ferry"Co'.137 Southern Botdovard R R .— Soo Union Ry
Southern Canada Power Co.— See Sherbrooke
Public Service Investment
12 Salem & Ponasgrove Traction Co
91
R y. &
C o_________________
1 4
Public Service Newark Term. Ryl— SoePubfic
Salem & Wakefield— See Bay S ta te..
n Southern PowerR y.— Seo Un. Rys. of St. l '" * U3 4
service u y __________
-79
Eloc.
& Spencer Ry.— Seo North 'C arl
Public Service R y (with m a p )IIIII..................... 7 2 Salisbury Service C o__________________________ 51 Southern Ht., Lt. & Powor Co.— Soe DuPublic
quesno Light C o_________
103
Public Servico R R ____________
70
Salt Lake & Og. R y.— See Bamberger EL R r I 11 5 Southern Illinois Ry. * Power C o.— Se'e'c'enPublic Utilities Co.— See Union R y '.I'G a s"*
Salt Lake Terminal Co— See Salt Lake &
tral Illinois Public Servico b o ______________65
Electric.__________ __ ________
Utah R R .
.115 Southern Illinois & St. Louis Ry
'
137
Public Works Co.— See Bangor R y. * Elec’.Co". 7 S a i t L a k e * U t a h . ____ . . . _________
115
Southern Light * Traction Co. (Natchez)— See
Puebla Tramway Lt. & Power C o . .
137
S a n A n t o n io G a s & E le c t r ic — S ee S a n A n t o n io
Southern Railway & Light C o________ . . 70
Pueblo & Sub. Trac. & Light Co.— See Arkan"
P u b l i c S e r v ic o C o
117
Southorn Michigan R y___________________ ” 1 2 3
ina S a n A n t o n i o P u b lic S e r v ic e C o
sas1Vai. R y., Lt. & Pow_____________
.................” ' l l 7
Southern Now York P ow er* Railway C o IIII 3 4
« o
Traction & Lighting— See Arkansas
n
n
o
r a c tio n — Seo S a
Valley R y., Lt. & P o w ..
ma S a S eA v itcoen iC oT_______________________n A n t o n l o P u b f l c 1 1 7 Southern Ohio Traction.— See Cincinnati &
r
& Dayton Traction............................................. 3 4
Puget Sound Electric Ky.— See Puget s'oilnd
S a n B e r n a r d in o V a l l o y T r a c i " C o l — See” P a c ".
Southern Oregon Traction C o__________ _ . 1 3 7
1 raction, Light & Power_
_
12]
E l o c . R y ________________ ____________
fi2
Southern Pennsylvania Traction C o.
94
pU
Ket Sound International Ry. &'Po wer'co'.—
S a n D i e g o E l e c t r i c R y ____________I ”
117
. 24
Southern Public Utilities b o ________
See Puget Sound Trac., Lt. A Power........... 121 S a n D i e g o A S o u t h e a s t e r n R y . .
137
Southern
Light Co______ ” ” ” ” 70
PULracfc.,T I]dJ > vPower______________ Sound 121 S a n d u s k y N o r w a l k & M a n s f i e l d E l e c t r i c R y l I 8 8 Southern Railway & _
'£ ? L ? ° Light & ':?r Co-— Soo Puget
?
Street R v_
.
.
”
‘’ 6
S a n d u s k y F r e m o n t & S o u t h e r n R y _______________ 3 1
Southorn Traction Co. (Bowling GroenI'Ky'.j"l 3 7
Puget Sound Traction, Light & Power Co
121 S a n d w i c h W i n d s o r & A m h e r s t b e r g R y
39
Southern Traction (Dallas).— Seo Texas El.
Putnam & Westchester Traction C o________ I 91 S a n f o r d A C a p e P o r p o i s o R y . — S e e A t l a n t i c
„ B y ................................
36
S h o r e R y _______________________________________________ = 7
Southorn Traction Co. of Illinois_ . . .
_
137
Quakertow n Traction.— Seo Leh.Vy.Tran.Co 3 S a n F r a n c is c o E l e c t r i c R a i l w a y s . .
119
Southern Traction— See Pittsburgh RysIIIIIlOO
i-fueboc-Jacoues Cartier Elec.— See Quebec
S a n F r a n c is c o G a s & E l. C o .— S o e P a c . G l & E l I l 1 7
Southorn Traction & Powor C o.
_
137
k y . Lt. Ht. & Power_______________
134
S a n &r a n . N a p a & C a l i s t o g a R y _____________
120
Southwestern St. R y.— Soo Phila. R y s .O o I ” 98
Quebec-Montmorency Ry.— See buebo'c'R v”
n
anc co
an
&
an J
C o n a '.'R y —
*125
Light, Heat & Power C o., Ltd
' y 'l34 S a S eF rS a n isK r aO a k la k ld n d ST e r mo. s e y s ______________g s Southwestern (Tex.) Traction C o.
e
u
Southwestern Traction— Seo London & Lake
Quebec Ry. Lt. Heat & Power
............... 1 3 4 S a n I1 r a n c i s c o -O.-O l a n a T e r m . R yR _
ak
d
s
»8
Erie Ry. * Transportation C o_____________ 1 3 3
r
S gi1(,!!ay Ry.— See Quebec" Ry.'.
a.
S a n F r a n c is c o *
S a n M a t e o E le c tr ic — S e e
Spokane & Inland Empiro R y_______________ 123
Light, Heat & Power C o .
134
U n i t e d R R . o f S a n F r a u c i s c o ____________________ 1 1 9
Spokano Terminal Co.— Soo Spokane & "inland
Queens Ry. Co.— See New Y ork'& 'Q uI'C o.R yrei S a n J o a q u i n L i g h t & P o w e r C o r p o r a t i o n
44
123
Empire Ry__________
Quincy (IU.) Horse R y. & Carrying— See
S a n J o e e * A l u m R o c k R y . — Hm S a n J o s e R R s 1 2 0
Spokane Traction Co.— Soo Spokano'* inland
n
se
o
Empiro R y_________________________
123
Q u f n c y ^ r w ' a y l l l l l l l l l l l l l l l l l i ; : : : : : : ; 11 S a P e nJ o s u - L r sR yG a t o s I n t e r u r b a n R y . — S e e 1 2 0
in
la
_________________________
Sprlngfiold & Contral Illfnoisl” ” ” ”
137
S a n J o s e R a i l r o a d s __________________
i 2n
Springfield ( 111.) Consolidated Railway— Soo
|>ailroads & Power Development Co
11K
S a n J o s e & S a n t a C l a r a R R . — S e e S a n 'j o s o
Union Railway, Gas * Electric...........
46
ailway Lt.
1
RRs
flUdo-h & DW Securities (B oston ).. I
«___1 __...
1
------ 1 3 7
-120 Springfield * East. St. R y.— Soo Springfield
San Jose Short Line Ry.— Soe San Fran.-Oak
Street Railway_____
130
Terminal Rys_______________
88
Ry. (Vermont)................... 124
San Jose Terminal R y_____
137 Springfield EloctricHeat &
Light,
”
Reading * LoweU-'Ie''. Bay S t ^ ^ 8 ^
Santiago (Cuba) Elec. Light A Trac"tion'CoIII137 Springfield & Northeastern Powor C o . . . . ” See 4 7
Traction
Reading & Temple Electric Ry.— See Reading
Sao Paulo Electric Co., Ltd...............
136 Springfield Springfield & Peoria___ Co.—
St. Louis
23
Traction__________ ;_________________
100 Sao Paulo Tramway. Light A Power Co
146 Springfield
Railway_____________ ” ”
Reading Traction.— See Reading Tr."& Lt.'c'o'.109 Sapulpa (Okla.) A Inter. R y...........
137 Springfield (Ohio) Railway & Light Co.— See 9 3
(111.)
Reachug Transit & Light Co........................... 10 Saratoga Traction— See Hudson Valley R v ”
9
3
Union Railway, Gas & Eloctric....................... 46
Read ng Wakef. & Lynn— See Bay State_____ 11
Electric C o........................... _
Reading & Womelsdorf— See Reading Trac__ 109 Savannah River Powor Co.— See Geerarfa Ry" 120 Springfield Railway Companies______________ 1 3 0
Springfield (M o.) Railway & Light C o ________ 82
Redlands Central Ry.— See Pac. Elec. Ry
« > Savannah C o_______________
■
A Powor
6
Springfield (Ma&a.) Street Ry______________.130
Redlauds St. Ry.— See Pac. Elec. R y ._ .I " 62 Savannah Thunderbolt & Isle o f ifop e'R y l—
Terminal Ry. * Power Co .124
§£p
iJbli< Ky- * Light Co_________ _
‘,
131 See Savannah Electric C o______
120 Springfield (O.)o.) Traction— Soo Spriugfiold
Rhodo Island Co________________
Schenectady R y________
n 2 Springfield * (M
Railway
Light C o _________
82
Rhode Island Suburban Ry
«
Penn.' Rys'.
Richland Public Servico CoIIII..........................sr Schuylkill Electric Ry.— See East.' See Lehigh 107 Springfield Troy * Piqua Ry.— Soo Springfield
Schuylkill Gas A Electric C o.—
Term. R y. A Power C o_________________ 1 2 4
Richmond Light Heat & Power” Co.— See
orporation...........
3 Springfield & Xenia Railway___________
123
United Gas & Electric C o .. "
C
3 Power Securities COrwigaburg
A
Rlclunond Light & RR. Co..............
124 Schuylkill Havenys___________ St. Ry".— See 107 Stafford Spgs. St. R y.— Seo Connecticut C o .I 73
East. Penn. R
Stamford Street RR.— Soo Connecticut Co
73
R chmond Ry & Elec.— See Va. Ry'. APo'wwIllO Schuylkill Ry. C o.................
4k
Standard Electric Co.— Soo Pac. Gas & Elec
Richmond & Rappahanneck River Ry
137 Schuylkill Traction (GirardvlllsIpV.)” ”
117
Richmond & Seven Pines Ry
137 Schuylkill Valley Trac.— Seo Reading Transit 4 6 C o r......................
Eloc. C o.— Soo“ R y.& Ind.” Sect.
Ridge Avenue Passenger Ry
97 & Light C o...................................
mo Standard Gas A R R __________________________ 4
Stark Electric
Rldgowood Gas Co...............
71 Scioto Valley Traction C o_______ I
Staten Island Midland R ________________
Rio de Janeiro Tramway Light *'Power
136 Scranton A Binghamton R R .— See”ScrantonA 3 4 Steinway R y.— Soe N. Y . y& QuoonsCo Rv IIl2 4
_ 61
K ttersvllle Hotel Co.— See Leh. Vai. Tran'.Co. 3
Binghamton R y.................
q Sterling Gas A Electric C o.— See Illinois Nor
R ^ ™ H Traction____________
62
.
3
thern Utilities C o __________________________ 4 0
Riverside°T Arl ?gtonBir' ~ 8M Pac. Elec. Ry. 73 Scranton A Binghamton Ry
Roanoke Ry. & E1 c t r l 8 Roan! Tr .A Lt ' ' 94 Scranton A Binghamton Trac. Co'.^Lgee Scran 3 Stoub. East Llvorp. & Boav. Valloy T ra ci "" 40
e
ee
Roanoke Traction & Light Co
” 9 ScrantonBinghamton R R __________ R y ” I 93 Steubonvilie Mingo * Ohio Valloy T ra ctio n 4 ton * A Garb. Trac.— Soe Scranton
See Steubenville & Wheeling Traction. _ .104
Rochester Charlotte & Man'ltou'RR.— See
* Wheeling Traction Co.— Soe
Rochester & Manltou R R ..
112 Scranton Dunmore A M o. Tk.— See Scranton93 Steubenville Traction________________________ 104
B y ...............- .....................................................
Wheoling
III”
143
INDEX t o r a i l w a y s
S e p t ., 1918.)
Paoe.
Stillwator & Mechanlcvlllo— See Hud. Val. R y . 2
Stockton Electric UR_______________________ 124
Stockton Terminal & Eastern R R ____________ 137
Suburban Rapid Transit Co. (Winnipeg)_____ 136
Suburban Rap. Tran. St. R y., Pittsburgh, P a .102
Suffolk Syndicate— See Suffolk Traction C o ._ 91
Suffolk Traction C o__________________________ 91
Sunbury & Susquehanna R y _________________ 137
Susquehanna R y., Lt. & Power Co.— Seo
United Gas S Electric Corp________________ 83
c
Sutro R R .— See United R R . of San Fran
cisco ---------------------------------------------------------119
Sutter St. R y.— Seo United R R . o f San Fran
cisco____________ . . ______________________ 119
Swansea S Seokonk Street R y _______________ 124
c
Sydney & Glace Bay Ry .Co.— See Cape
Breton Electric C o________________________ 135
Syracuse Lake Shore & Nor. R R .— See Em
pire Stato Railroad Corporation___________124
Syracuse Northern Elec. R y _________________ 125
Syracuse Rap. Tran. R y.— SeoN.Y.State R ys.I l l
Syracuse & Suburban R R ____________________125
Paoe.
Toledo & Maumee.— See Tol. Trac., L . & P.
C o ------- ------------------87
Toledo Port Clinton S Lakeside R y. Co.— See
c
Northwestern Ohio Ry. S Power C o______ 106
c
Toledo Railways S Light Co.— See Toledo
c
Traction. Light S Power C o_______________ 87
c
Toledo Traction, Light S Power______________ 87
c
Tol. S Western R y.— See Tol. T .. L. S P. C o . 87
c
c
Tonawanda Electric R R .— See Internal. T ra c. 18
Tonawanda St. R R .— See International T rac. 18
Toixika Edison C o.—See Topeka R y. S Lt.Co. 23
c
Topeka Railway_____________________________ 24
Topeka Railway S Light C o__________________ 23
c
Toronto Elec. Lt.— See Toronto Power C o_ 135
_
Toronto (Canada) Railway__________________ 135
Toronto Power C o__________________________ 135
Toronto Suburban Railw ay_________________ 137
Toronto & York Radial R y.— See Toronto R y .
(Canada)_________________________________135
Torrington & Win. St. R y.— See Conn. C o _ 73
_
Transit Development Co.— See Brooklyn Rap
id Transit C o _____________________________ 13
Trans-St. Mary's Traction Co_______________ 137
Trappe & Limerick Electric.— See Rox. Chest
nut Hill & Norristown_____________________110
Trenton Bristol & Philadelphia Street R y ____98
Trenton City Bridge Co.— See New Jersey S
c
Pennsylvania Traction C o________________ 126
Trenton Gas S Elect.— Seo So. Jersey Gas,
c
Electric Sc Traction________________________ 71
Trentonllam. Sc Ewing— See Trenton St. Ry. 126
Trenton S New Brunswick R R .— See Eliza
c
beth S Trenton R R ________________________73
c
Trenton Lakewood Sc Seacoast R y___________137
Trenton S Mercer Co. Trac. Corn___________126
c
Trenton Pennington S nopewell Street R y.—
c
See Trenton Street R y ___________________ 126
Trenton (N. J.) 8treet R y___________________ 126
Tri-OIty R y.— See Tri-City Ry. S Lt. C o____49
c
Tri-City Railway S Light C o________________ 49
c
Trinidad (Port of Spain) El. C o., Ltd________ 137
Trinidad Elec. Transm. R y. Sc Gas— See Fed
eral Lt. & Trac. C o________________________82
Troy City R y.— See United Trac. (Albany)_
_ 2
Troy Hill Pass. R y.— See Fed. St. & P. Valley
P. R y ..................................................................101
Troy S Now England R y___________________ 126
c
Tucson Rap. Tr.— See Fed. Lt. S Trac______ 82
c
Tuscaloosa Railway & Utilities C o___________126
Tuscarawas Trac. Co.— See Can.-Ak. Cons.
R y .................................................
2
Twenty-3ocond St. S All. Ave. Pass. R y _____ 96
c
Twenty-eighth S Twenty-nintn Streets Cross
c
town R lt. (N . Y .)— See Mld-Crosstown R y . 82
Twenty-third Ave. El. R y.— See San Fran.Oakland Terra. R y _________________________ 88
Twenty-third Street R y ______________________79
Twin City Light Sc Traction C o______________ 137
Twin City Rapid Transit____________________ 67
Twin Falls (Idaho) R y........................................137
Twin Stato Gas S Electric C o________________ 12
c
Tyler City Light S R y______________________ 137
c
npacoma R y. & Power.— See Puget Sound
* Traction, Light & Power_______________ 121
Tama & Toledo Ry. Co.— See Iowa R y. S L t. 19
c
Tampa Electric C o __________________________ 125
Tamaqua & Pottavllle Electric R R .— See East.
Penn. Rys________________________________107
Tarrant County Traction Co.— See Northern
Texas Electric C o__________________________ 36
Tafrytown White Plains Sc Mamaroneck R y.—
See Shore Line Electric R R _________________ 75
.Taunton S Brockton Street Railway.— See
c
Old Colony Street Railway________________ 11
Taunton Stroet liy .— See Globe Street R y — 11
Taylor Are. R R .— See United Rys. of St. L ..1 1 4
Templeton St. R y.— See Nor. Mass. St. R y ._ 50
Tennessee Pow. C o.— See Tenn. Ity., L. & P__ 60
Tonnossco Railway, Light & Power____________69
Terre Haute Electric Co.— Seo Terre Haute
Traction & Light__________________________ 54
Torre Haute Indianapolis S Eastern Traction
c
C o--------------53
Torre Haute Traction S Light C o _____________64
c
Terre Haute & Western Ry. C o.— Seo Terre
Haute Traction & Light___________________ 64
Texas Traction Co.— See Texas Electric R y . 36
Texas Kloctrlc Railway_______________________36
Third Avenue Ry. (N. Y .) -------------------------- 7 9
Thirteenth & Fifteenth Streets Passenger R y . 97
Thirty-fourth Street Crosstown R y ___________79
Tidewater Power C o ------------------------------------ 129
Tidewater Southern Railway-------------------------124
137
Tiffin Fostoria & Eastern R y _______
Titusville Traction C o_______________________ 137
Toledo Bowling Green S Southern Traction. .126
c
Tol. Fayette & Western.— Seo Toledo Trac.,
Light & Power.........................................
87
Toledo & Findlay St. Ry.— See Toledo Bowl
ing Green S Southern_____________________126
c
Toledo Fostoria & Findlay__________________ 126
Toledo Fremont & Norwalk Street R y.— See
Lake Shore Kloctrlc________________________31 |Inion Consolidated Elevated R y., C hicago.. 28
*-Jnlon Depot R R . (St. Louis, M o.)— See
Toledo Gas L|ght & Coke Co.— See Toledo
United Railways C o_______________________114
Traction, Light & Power C o________________ 87
_
Toledo S Indiana Railroad__________________ 126 Union Electric Co.— Seo Dubuque Elec. C o_ 40
c
Union Elev. R R .— See Northwestern Kiev____28
Toledo Heat & Light C o.— See Toledo Trac
tion, Light S Power C o____________________ 87 Union Gas & Electric_________________________ 83
c
H M BYLLESBY
. .
&
Page.
Union Light, Heat & Power C o.— See Cin
cinnati Newport & Covington______________35
Union Loop— See Union Elevated R R _______ 28
Union Passenger R ailway____________________ 97
Union R y., Gas S Elec. (111.)________________ 46
c
Union R y. of New York______________________82
Union R y.— See Wilmington S Chester Trac
c
94
Union Street Ry. (New Bedford, Mass.)______ 73
Union Traction Co. (Coffeyvllle, K an.)______ 32
Union Traction Co. (Nashville, Tenn.)______ 70
Union Trac. Co.— See Coast Counties G.&E1.120
Union Traction Co. of Indiana_______________ 4
Union Traction (Phlladelpnia, P a.)____________96
Union Utilities Co.— See West Va. Trac. &
Electric C o________________________________110
United Electric Co. of N . J__________________ 70
United Gas S Elec. Co.— See Twin State Gas
c
S Electric C o____________________________ 12
c
United Gas S Elec. Co.— See Louisville S
c
c
North. R y. & Light C o____________________ 62
United Gae Sc Electric C o.— See California
Gas S Electric Corporation_______________ 117
c
United Gas S Electric Co. (New Jersey)_____ 83
c
United Gas S Electric Corporation____________83
c
United Lt. S Rys. (Grand Rapids) (with map) 49
c
Uuited National Utilities C o_________________ 92
United Power S Transportation______________ 98
c
United Railroads of S» b Francisco___________119
United Rys. S El. Co. o f Balto_______________ 7
c
United Rys. Investment Co. (San Francisco)..118
United Railways Co. (St. Louis)_____________ 114
United St. R y. of Cent. N . J.— See Pub. Ser.
Railway___________________________________ 72
United Traction (Albany)___________________
2
United Trac. & Elec__________________________ 74
United Traction (Pittsburgh)________________ 101
United Traction (Reading, Pa.)— See Reading
Transit & Light C o_______________________ 109
United Traction Sc. R R . Co.— See Du Bols
Elec. Sc Trac. C o___________________________ 40
Urbana Bellefontalne & Northern R y.— See
Indiana Columbus & Eastern_______________33
Urbana Sc Champaign Ry. Gas S Elec. C o____22
c
Urbana L t., Heat S Power Co________________ 22
c
Utah-Idaho Central R R _____________________115
Utah Light Sc Ry. Co.— See Utah Lt. Sc Trac_115
Utah Light S Traction_______________________ 115
c
Utah Power S Light_________________________ 115
c
Utica Belt Line Street R R .— See N . Y . State
R ys......................................................................i l l
Utica & Mohawk Valley R y.— See N . Y.
State Rys.........................................
m
Utilities Oil & Retining C o . . _________________ 83
Uxbridge Sc Blackstone St. R y.— See Worces
ter Consolidated Street R y ________________ 130
V alley Counties Power Co.— See Pacific
'
Gas S Electric C o______________________117
c
Valley Railways____________________________ 52
Valley Street R y.— See Rep. R y. Sc L t_______ 131
Valley Traction Co.— See Valley Railway______ 52
Valparaiso & Northern R y.— See Gary & Val
paraiso R R _______________________________ 45
Van Brunt Street S Erie Basin R R __________ 17
c
Vermont Company— See Berkeshire St. R y _ 75
_
Vermont Power & Lighting C o.— See M ont
8
pelier Sc Barre Light & Power C o__________
Vicksburg Light & Traction C o____________..1 2 6
Vincennes Citizens St. R y.— See Vln. Trac____127
CO PAN
M
Y
IN C O R P O R A T E D
E n g i n e e r s — M a n a g e r s
D
esign C stru O era
— on ct— p te
Natural G System
as
s
Interurban Railways
Water Pow Plants
er
Transmission System
s
Drainage System
s
Artificial Gas System
s
Street Railways
Waterworks
Electric Light Plants
Irrigation System N
s
E x a m i n a t i o n s — R e p o r t s
N E W
1 2 2 0
C H I C A G O
Y O R K
T r in ity
2 2 0
B u ild in g
*
i
S o .
La
S a l l e
S tr e e t
I
INDEX TO RAILWAYS
144
Pag*.
Vincennes Traction C o______________________ 127
Vincennes Trac. 3c Lt. Co.— See Vln. Trac____127
Virginia Passenger S Power Co.— See Virginia
c
Railway & Power___________
110
Virginia Railway & Power__________________ 110
U^abash River Traction Co.— See Ft. Wayne
™ Sc Northern Indiana Traction C o________ 43
Wakefield 3c Stoneham St. R y.— See Bay State
Street R y __________________________________ 11
Walden & Orange Lake.— See Orange County
Traction___________________________________87
Walklll Transit Co___________________________ 66
Ware Sc Brookfield Street R y________________ 131
Warren & Jamestown St. R y_________________ 127
Wash. Alexandria S Alt. Vernon Ry.— See
c
Washing ton-Virginia Ry_____________
Wash. Arlington & Falls Church Ry.— See
Washington-Virginia Ry__________________ 128
Washington Baltimore 3c Annapolis Electric
R R ..................... - ............................................. 128
Washington Berwyn & Laurel Electric.— See
City S Suburban__________________________ 128
c
Washington & Canousburg Railway Co______ 101
Washington Electric R y ____________________ 137
Washington (D . C .) Interurban R y.— See
Washington Ky. 3c Electric_______________ 127
Washington S Glen Echo I{R.— See Washing
c
ton Railway S Electric____________________ 127
c
Washington S Great Falls Ry. & Power C o_ 137
c
_
Washington & Maryland R y________________ 128
Washington & Old Dominion________________ 128
Wash. S Rock. R y.— See Wash. Ry. S Elec_127
c
c
Washington Railway Sc Electric C o___________127
Washington Spa Springs S Gretta R R _______ 137
c
Washington Utilities C o _____________________128
Wash.-Virginia Ry. Co______________________128
Washington Water Power, Spokane_________ 123
Washington Westminster Sc Gettysburg R R _ 137
_
Wash. Woodsldo S Forest Glen Ry. * Power
c
C o.— See Washington Railway S Electric, .127
c
Waterbury Light S Pow. C o.— See Montpelier
c
& Barre Light 3c Power C o _______________ 8
Waterloo Cedar Falls & Northern Rapid Tran
128
sit .............
Watertown Gas & Electric C o.— See Wise. Gas
Sc Electric C o_____________________
67
Watervlllo Fairfield 3c Oakland R y___________ 129
Watervilie & Oakland St. R y.— See Watervllle
Fairfield & Oakland R y__________________ 129
Watervliet Turnpike S Railroad.— Seo United
c
Traction (Albany)________________________ 2
Waukegan Rockford S Elgin Traction_______ 137
c
Waycross (Ga.) Street S Suburban R y _______ 137
c
Webb City Northern Electric R y.— See South
west Missouri R R ________________________ 129
Webster & Dudley.— Seo Wore. Cons. Street
R y - - - .....................................
130
Weehawken Contracting Co__________________ 70
Westchoster Electric.— See Union R y., N. Y__ 82
West Chester Kennett S Wilmington Elec. Ry. 57
c
West Chester Street R y______________________ 129
Westchester Street R R _____________
75
West End Passenger Ry.— See Frankford S
c
Southwark Passenger R y_________________ 96
West End Rapid Transit Co.— See Cincinnati
Laurenceburg S Aurora Electric Street Ry__ 29
c
West End Street Ry. (Boston)_______________ 10
(Vol . 107.
Page.
Page.
Windsor Sc Tecum. Elec. Ry.— Seo San. Win.
West End St. R y .— See Lone. C o. R y . Sc L t___59
Sc Arah. Ry________________________________39
West End Traction, Pittsburgh, P a.— See
Winnipeg Electric Ry________________________ 136
Pittsburgh Railways C o ___________________ 100
Western M ass. St. R y .— Seo Sprlngf. St. R y__130 Winnipeg Selkirk Sc Lake Winnipeg Ry______ 136
Wastern New York Sc Pennsylvania T rac. C o . 89 Winnipeg Electric Street Ry.— See Winnipeg
Electric Railway__________________________ 136
Western Ohio Railroad_______________________ 60
Western Ohio R ailw ay.— See W est. Ohio R R __ 60 Winnlslmmet RR___________________________ 12
Winona (Minn.) Ry. & Light Co.— See Wis
Western Railways Sc Light C o .— Seo Illinois
consin Ry., Light Sc Power Co______________ 58
Traction C o _________________________________ 21
W est India E lectric C o ________________________132 Winona Interurban_________________________ 127
West Liberty & Suburban S t.— See Pitts. Rys.100 Winona Sc Warsaw Ry.— See Winona Inter. .127
Winston-Salem Power Co.— Sej So. Pub. Utili
W est Liberty Street R y .— Seo P Ittsb. Sc Birm.
ties C o ____________________________________ 24
Traction C o _________________________________ 101
Westmoreland C ounty R y _____________________ 37 Wisconsin Edison Co_________________________ 66
W est Penn Power C o __________________________ 104 Wisconsin Electric Ry.— See Eastern Wis
consin Eloctrlc Co________________________ 122
W est Penn Railways C o ______________________ 103
128
Wisconsin Gaa Sc Electric_________
67
W est Penn Traction Sc W ater Power C o _____ 103
Wost Philadelphia Passenger. R ailw ay_________ 97 Wisconsin Interurban Ry____________________137
Wisconsin-Minnesota Light Sc Power Co______ 59
W est R oxbury Sc Rosltndale Street R y .— See
B ay State Street R a ilw a y .___ ________
11 Wisconsin Public Service Co.— See Wisconsin
Securities Co______________________________ 50
W ost Shore Railw ay____________________________ 74
Wisconsin Railway, Light Sc Powor Co_______ 58
W est Side R R .— Seo Elmira W ater, Light Sc
R R ..............................................................................41 Wisconsin Securities Co_______________________50
W est Virginia Traction Sc Electric C o _________ 110 Wisconsin Traction Light Heat Sc Powor______ 67
W est W ater St. R R .— See Elmira W at.,Lt.3cR R4l Wisconsin Valley Electric Co________________ 129
Woburn & Reading— See Bay Street St. Ry____ 11
W hatcom C ounty R y . Sc Light C o .— See Puget
Sound T ra ct., Light Sc Power______________ 121 Worcester Sc Blackstone Valley St. Ry.— See
Worcester Consolidated Street Ry________ 130
W heeling Sc Elm G rovo R R .— See Wost Vir
ginia Traction Sc Electric C o _______________ 110 Worcester is Clinton St. Ry.— See .Worcester
Cons. St. Ry____________________________ 130
W heeling (W . Va.) T raction C o ______________ 101
Wheeling Sc Western R y .— See W heel. T ra c__104 Worcester Sc Conn. East. Ry.— See Shore Lino
Electric___________________________________ 88
W ichita R R . Sc L ight................................................. 24
W ichita-W alnut Valley Interurban R y ________ 137 Worcester Consolidated Street Ry___________130
Wilkes-Barre C o .— Soe United Gas Sc E lec____ 83 Worcester Sc Holden St. Ry.— Soe Worcester
Consolidated Street Ry___________________ 130
Wilkes-Barre Dallas Sc lla r v e y ’s Lake R y ____ 129
Worcester A Marlborough Street Ry.— Seo
WIlkes-Barro Gas Sc E lec. C o .— See United Gas
Worcester Consolidated___________________ 130
* E lectric____________________________________ 83
Wilkes-Barre Sc Hazleton Railway______________52 Worcester Sc Southbrldge St. Ry.— See Worces
ter Consolidated Street Ry_______________ 130
Wilkes-Barre Sc Hazleton R R ___________________ 52
Wilkes-Barre Railways C o ____________________ 129 Worcester Sc Warren Street Ry_______________ 127
Wllkee-Barre Terminal R R ____________________ 52 Worcester & Webster Street Ry.— See Worces
ter Consolidated Street Ry_______________ 130
Wilkes-Barre * W yom ing Valley T ra ction ____ 129
Woronooo St. Ry.— Soe Springfield St. Ry____130
Wilklnaburg & East Pittsburgh 8 t. R y .— See
M onongahela Street R y . C o _______________ p)2 Wyandotte Sc Detroit River Ry.— See Detroit
United Railway___________________________ 39
Wilklnaburg Sc Verona Street R y .— Seo
M onongahela Street R y . C o _______________ 102
Willamette Falls Electric R y .— See Portland
Y adkin River Power Co____________________108
onkers RR________________________________82
R y .. Light Sc Power________________________107
York County Power Co.— See Cumberland
W illamette Valley Southern R y .— See P ort
County Power Sc Light Co_________________ 106
land Railway. Light & Pow er_______________ 107
York Railways_____________________________ 131
Williamsport Gas C o .— See Lehigh Power
Securities C orporation______________________ 3 Youngstown is Ohio River RIt______________ 60
Wlllapa Electric C o ___________________________ 137 Youugstown Park Sc Falls Street Ry.— See
Republic Ry. Sc Light Co_________________ 131
Wllllmantlc Traction C o .— Soe C onn. C o _______73
Youngstown-Sharon Ry. & Light — See Re
W ilmington (D el.) C ity R y .— Soe W ilm ington
public Ry. Sc Light Co____________________131
Sc Chester T raction___________________________ 94
Wilmington C ity Eloctrlc C o __________________ 94 Youngstown Sc Southern Ry.— Soe Youngs
town Sc Suburban Ry______________________ 131
W ilm ington Sc Chestor Traction C o ___________ 94
Youugstown Sc Suburban Ry________________ 131
W ilm ington Sc Edgem ore— See W llm . Sc Ches
ter T ra ction __________________________________ 94 Ypsllantl Sc Saline Ry.— Seo Dot. Jack. Sc
Chic................................................................... 40
Wilmington N ewcastle Sc Delaware C ity— See
W ilm ington & Philadelphia Traction C o _____ 94
W ilmington Sc Philadelphia T ra ction __________ 94 'yanosvlllo Electric Co.— See Col. Newark
Wilmington Southern Traction C o .— Seo Wil
Sc Zaneavllle____________________________ 33
m ington Sc Philadelphia Traction C o ________94 Zanesville Electric Ry.— See Col. Newark Sc
Winchester A ve. R y .— Seo C onn. C o __________ 73
Zanesville_______
33
Windsor Locks T raction C o .— Seo Hartford
Zanesville Ry. Light Sc Powor Co.— See Col.
& Springfield Street R y _____________________ 125
Newark Sc Zanesville_________
33
G r a h a m, Pa r s o n s S c C o .
BAN KERS
435
ch estn u t
S
treet
P H IL A D E L P H IA
Gv rn e t a d Mn a Bn s
o e mn n u icip l o d
Scu s of Rilro d S e Rilwy
e ritie
a a s, tre t a a s,
Gs a d E ctric L h a d P er Cma ie
a n le
ig t n ow o p n s
o Eta lis e V lu
f s b hd a e.
C A B L E A D D R E S S " G R A C O " . P H IL A D E L P H IA
V
@FedFRASER