tksim' mlmmi OF THE COniHERCIAL AND FmMCIAL CttROAIICLE. I'UBLISHED ON THE LAST SATURDAY OF EACH MONTH. Farnished Gratig to all Subacriben of the Chronicle. NEW YOKK, MAKCH 25. 187H. Financial. J. 6l W. Seligman & Co., BANKERS, 59 BXCHA.NGIE PLAOB, COKNKll BKOAD 8TKKBT, NBW I OUK. Issue Letters of Credit for Trarelent, Payable In any pan of Baropa, Aua, AtrU*, Anitrulla and America. Draw Bllla of Bxckanie and make telegrapUc trana- era of money on Bnrope and California. A6KNCV OK Merchants' Hank OF Canada, 63 WALL !>TUEGT. OBpltal ..... )», 000,000 Gold, falrt up, ..... 8,138,620 " Bills of Exchange bought and sold. Commercial CredlU granted, Draftg on Canada laaued. Bills collect- ad. and other Baolung business transacted. WALTER WATSON, (.„„,.^ WM. J. INGRAM, f*gento. isONOON AGENCY, 33 Lombard St. S. G & G. C. Ward, AOBVT8 FOB tRINO BROTHERS dc OOHIPANX, S3 WALL 8TRKBT, NBW TOBK. 18 STATB STBBitT. BOSTON. Adolph Bcissevain & Co. BANKERS AV9 COinniSSION InEROHA^^8, AMSTERDAM, HOLLAND Bay and Sell on Comu laa on Anierican Securities In BoUand and other Contloenial Markets. Mafc Coll ctlons throogbout the Cuatlaent ol Bnrope. Make Paynianta on Letter- of Credit to Travcleia and transact a general American Banking Bnalress. Refer by spuclal permission to Messrs. Blake Brothers ft Co.. IV)hto:i and New ^ ork. and to Me*sr^ 8. A W. Welsh, PhlUilelphU. Winslow, Lanier & Co., BANKERS, « PINK 8THKET, NBW YORK, Kecelve the acconnta of Interior twnka, banlcera corporations and Mercbanta. AgenU for the sale of City, Oonnly, and Railroad Bonds ; laane Letters of Credit for foreign traveL LONDON CORRB8PONDKNT8 OITV BANK, Thntadneedio Street. CHARLES OTIS, ~ 47 BXCHAMOB FLACB, City Railroad and Gas Stocks, Specialty lor 19 Years. iiaoUtloBB of > Looal SeoultlM' tn tUf paper Financial. FISK & HATCH, BANKBRS, No. 5 KASSAr ST., NEW 1 ORK. We give partlcnlar attention to Disiot Dx/tLises rv OOTKBNHBNT BOITDa AT CUBBBNT KABKBT BATXft and are prepared, at all times, to bny or sell in large or small amounts, to suit all claasei of investors. Ordere by mail or telegraph vlU receWe careful atten- tion. We shall be pleased to fnmlah Information In rererence 10 all matters connected with investments In Govemmetit Bonds. We also bny and aell Gold and Gold coupozra COLLKOT DITIDBNDS. and TOWN. COOSTT and 8TATB Coupons, Ac. and bay and ell,oic CoHaissiOK, all Mabkbtablb Stock andBo.sds In our Banking Dbfabtxknt we receive deposits and remittances subject to drafi,aDd allow In'ereat, to be credited monthly, on balances averaging, for the month, from 11.000 to t-VOO, at trie rate of three per cent per annum, and on balances averaging over 96.000, at the rate of fonr per cent. FISK ic HATCH. M. K.Jesup,Paton&Co. BANKERS, No. S3 UriUiam Street, New York. Draw Exchange on Union Bank of London. Accounts ol Banks, Bankera and otbera raoelvea upon favorable terms. Interest Allowed on Balances 8nb}ect to Drafts at Sight. Advances made npon Consignments to our a ddreaa or to our Correspondents in Europe. Investment Securities Bought and Sold. Boston Banhers Greenebaum Bros.& Co., BANKERS, 1 Naeaan Street, Nenr York, (CoBiTBB OF Wall Stbbbt.) CHLC&UO UOUBB:: HENR7 GREBNEBADM AGO ' Issue Bills Of Exchange, Travelera* and Commercial Credits, also Telegraphic Transfers of Money, avail •hie In the leading cities of Bnrope an^ the United States. I'opoFit accounts received on favorable terms. We oler for sale a limited amount of West Ohlcaffo Park T Per Cent Bonds, Dne 1890. Henry S. King & Co., BANKERS, 46 Pall nail, London, Bngland. Issue CIRCULAR NOTB8 ftttn/ cAarjt, available in all parts of the world. Grant COMMERCIAL CREDITS tor use against Consignments of Merchandise. Execute Ordera on the London Stock Exchange. Make Collections on all Points. Receive. Deposit and Current Accounts on favorable terms, and do a General London and Foreign Banking Bnslneas. KING, BAILLIE * CO., Liverpool. NEW YORK AGENTS, Messrs. UTARD, CAmPBELL dc CO. Richardson, Hill & Co., No. 1 SudioN'B BiriLsiMs, 40 Watib St., BOSTQIV. Bnalness Paper boa([lit and sold. Deposits received, Colli-ctlons made, Advaneea on Collaterals, Inrestment Securities. Orders for all Flrat-Clasa Securities executed on Commission. Parker & Stackpole, RANKKKK. 78 DBVONBUIRB 8TRBRT BOSTON, Rny and Nell Western <;ltr and County Bonds. Brewster, Basset & Co., BANKERS. No. 3fi CONGRESS STREET, .oatou, nass. Dealers In stoilo, Bonda, Gold and Commercial paper. Orders executed on Commlsalon at Broken Board Auctions, and Private Sale. Investment Securities conatantlv on banc. ICidder, Peabody & Co., BOSTON, MASS. ;oH)fBB<71AL AND ClBUTTLAB LmBBB OF CBBDtT I«SUBD ATAILABLB TN ALL PABTB OF THB WOBU>. EZOHANOB OH LOBDOV. PaBIB, AUD arHBB COMTUMBTAL CXTIBS OF kUBOPB. Ne-w York Ofllce, 33 Wall Street. Fhila. « Baltimor- Bankers. Wilson, CoUton 6c Co., RANKKKS AND BROKERS. BALTIMORE. INVESTMENT and VIRGINLA SECURITIES a specialty. Correspondence solicited and tnfarmatlon fmr. BlBhed. N. \. COBBBSPONDBirra—McKIm Brothers * Co. J. Bell Austin, STOCK BROKER, No. 819 WTALNITT STREET, PbUadelpbla. Orders In Stocka and Bonds promptly execute* at the Philadelphia and New Tork Boards. Bonds, Stocks, Jewelry, WILXS, &c., RECEIVED FOR SAPEKKEPINO BY THE SATE DEPOSIT CO. OF NEW TORK, 140, 142 A 148 BROADWAY, COR. LIBERTY ST Frahcib H. Jbnkb, Praddwit. Tbe fliat MtablUbad in the world.
Transcript
tksim' mlmmiOF THE
COniHERCIAL AND FmMCIAL CttROAIICLE.I'UBLISHED ON THE LAST SATURDAY OF EACH MONTH.
Farnished Gratig to all Subacriben of the Chronicle.
NEW YOKK, MAKCH 25. 187H.
Financial.
J.6l W. Seligman & Co.,
BANKERS,59 BXCHA.NGIE PLAOB,
COKNKll BKOAD 8TKKBT, NBW I OUK.
Issue Letters of Credit for Trarelent,
Payable In any pan of Baropa, Aua, AtrU*, Anitrulla
and America.
Draw Bllla of Bxckanie and make telegrapUc trana-
era of money on Bnrope and California.
A6KNCV OK
Merchants' HankOF
Canada,63 WALL !>TUEGT.
OBpltal ..... )»,000,000 Gold,falrt up, ..... 8,138,620 "Bills of Exchange bought and sold. Commercial
CredlU granted, Draftg on Canada laaued. Bills collect-
ad. and other Baolung business transacted.
WALTER WATSON, (.„„,.^WM. J. INGRAM, f*gento.
isONOON AGENCY, 33 Lombard St.
S. G & G. C. Ward,AOBVT8 FOB
tRINO BROTHERS dc OOHIPANX,S3 WALL 8TRKBT, NBW TOBK.
18 STATB STBBitT. BOSTON.
Adolph Bcissevain & Co.BANKERS
AV9
COinniSSION InEROHA^^8,AMSTERDAM, HOLLAND
Bay and Sell on Comu laa on Anierican Securities
In BoUand and other Contloenial Markets.Mafc Coll ctlons throogbout the Cuatlaent ol
Bnrope.
Make Paynianta on Letter- of Credit to Travcleiaand transact a general American Banking Bnalress.Refer by spuclal permission to Messrs. Blake
Brothers ft Co.. IV)hto:i and New ^ ork. and to Me*sr^8. A W. Welsh, PhlUilelphU.
Winslow, Lanier & Co.,BANKERS,
« PINK 8THKET, NBW YORK,
Kecelve the acconnta of Interior twnka, banlcera
corporations and Mercbanta.
AgenU for the sale of City, Oonnly, and RailroadBonds ; laane Letters of Credit for foreign traveL
LONDON CORRB8PONDKNT8OITV BANK, Thntadneedio Street.
CHARLES OTIS, ~
47 BXCHAMOB FLACB,
City Railroad
and Gas Stocks,Specialty lor 19 Years.
iiaoUtloBB of > Looal SeoultlM' tn tUf paper
Financial.
FISK & HATCH,BANKBRS,
No. 5 KASSAr ST., NEW 1 ORK.
We give partlcnlar attention to Disiot Dx/tLisesrv OOTKBNHBNT BOITDa AT CUBBBNT KABKBT BATXft
and are prepared, at all times, to bny or sell in large
or small amounts, to suit all claasei of investors.
Ordere by mail or telegraph vlU receWe careful atten-
tion.
We shall be pleased to fnmlah Information In
rererence 10 all matters connected with investmentsIn Govemmetit Bonds.We also bny and aell Gold and Gold coupozra
COLLKOT DITIDBNDS. and TOWN. COOSTT and 8TATBCoupons, Ac. and bay and ell,oic CoHaissiOK, all
Mabkbtablb Stock andBo.sdsIn our Banking Dbfabtxknt we receive deposits
and remittances subject to drafi,aDd allow In'ereat,
to be credited monthly, on balances averaging, for the
month, from 11.000 to t-VOO, at trie rate of three per
cent per annum, and on balances averaging over
96.000, at the rate of fonr per cent.
FISK ic HATCH.
M. K.Jesup,Paton&Co.BANKERS,
No. S3 UriUiam Street, New York.Draw Exchange on Union Bank of London.Accounts ol Banks, Bankera and otbera raoelvea
upon favorable terms.
Interest Allowed on Balances 8nb}ect to Drafts at
Sight.
Advances made npon Consignments to our a ddreaa
or to our Correspondents in Europe.Investment Securities Bought and Sold.
Boston Banhers
Greenebaum Bros.& Co.,BANKERS,
1 Naeaan Street, Nenr York,
(CoBiTBB OF Wall Stbbbt.)
CHLC&UO UOUBB:: HENR7 GREBNEBADM AGO' Issue Bills Of Exchange, Travelera* and CommercialCredits, also Telegraphic Transfers of Money, avail
•hie In the leading cities of Bnrope an^ the UnitedStates.
I'opoFit accounts received on favorable terms.
We oler for sale a limited amount of
West Ohlcaffo Park T Per Cent Bonds,Dne 1890.
Henry S. King & Co.,BANKERS,
46 Pall nail, London, Bngland.
Issue CIRCULAR NOTB8 ftttn/ cAarjt, available
in all parts of the world.
Grant COMMERCIAL CREDITS tor use against
Consignments of Merchandise.
Execute Ordera on the London Stock Exchange.
Make Collections on all Points. Receive. Deposit
and Current Accounts on favorable terms, and do a
General London and Foreign Banking Bnslneas.
KING, BAILLIE * CO., Liverpool.
NEW YORK AGENTS,
Messrs. UTARD, CAmPBELL dc CO.
Richardson, Hill & Co.,No. 1 SudioN'B BiriLsiMs, 40 Watib St.,
BOSTQIV.Bnalness Paper boa([lit and sold.Deposits received, Colli-ctlons made,
Advaneea on Collaterals,Inrestment Securities.
Orders for all Flrat-Clasa Securities executed onCommission.
Parker & Stackpole,RANKKKK. 78 DBVONBUIRB 8TRBRT
BOSTON,
Rny and Nell Western <;ltr andCounty Bonds.
Brewster, Basset & Co.,
BANKERS.No. 3fi CONGRESS STREET,
.oatou, nass.
Dealers In stoilo, Bonda, Gold and Commercial
paper.
Orders executed on Commlsalon at Broken Board
Auctions, and Private Sale.
Investment Securities conatantlv on banc.
ICidder, Peabody & Co.,
BOSTON, MASS.
;oH)fBB<71AL AND ClBUTTLAB LmBBB OF CBBDtT
I«SUBD ATAILABLB TN ALL PABTB OF THB WOBU>.
EZOHANOB
OH LOBDOV. PaBIB, AUD arHBB COMTUMBTALCXTIBS OF kUBOPB.
Ne-w York Ofllce, 33 Wall Street.
Fhila. « Baltimor- Bankers.
Wilson, CoUton 6c Co.,RANKKKS AND BROKERS.
BALTIMORE.INVESTMENT and VIRGINLA SECURITIES a
specialty.Correspondence solicited and tnfarmatlon fmr.
BlBhed.N. \. COBBBSPONDBirra—McKIm Brothers * Co.
J.Bell Austin,STOCK BROKER,
No. 819 WTALNITT STREET,PbUadelpbla.
Orders In Stocka and Bonds promptly execute* atthe Philadelphia and New Tork Boards.
Bonds, Stocks, Jewelry,WILXS, &c.,
RECEIVED FOR SAPEKKEPINO BY THE
SATE DEPOSIT CO. OF NEW TORK,
140, 142 A 148 BROADWAY, COR. LIBERTY ST
Frahcib H. Jbnkb, Praddwit.
Tbe fliat MtablUbad in the world.
INVESTORS* SUPPLEMENT. [March 25, 1876
Financial. Southern Bankers.
REAL ESTATEMORTGAGE BONDS
GUARANTEED BY THE
Equitable Trust Co.,$1,000,000 OAPITAl.
THESE REAL ESTATB MOKTliAOK BONDS ARECOMMENDED TO THE ATTENTION OF
THE MOST
CONSERVATIVE INVESTORS.J>ir«(-They have the ladlvldual liability of tbe
'"S*"n<l-Efch bond U secured by a drst mortgage of
w>«l oHtHte of not less tlmn double us value.
Mfni-Tho prompt payment of botli nrlnclpnl and
lntere.t of evjry bond 1» guaranteed by tliU Company.
Tbe Company guaniuteelng tl.cse Bonds receives no
d<.pil.u. ole" no money, and incurs no obligation, of
i,y?liara,'tei except those arising froin sy'-„l' BU'iranty
thereby keeping '« "hole capftal ol One MWlonDollars unimpaired. TO MhhT AT ALL TIMES the
• prompt pavment of both principal and Interest of
AU mortgages securing tbe Bonds are formally ap-
proved by the following Executive Board :
HOBEUT L. KENNEDY, ADRIAN ISELIN,SAVUkL WILLETS, JAMES A. K;)ilSkVELT,WM KKMSKN. EUGK^E KELLY, .
rllA« UUtLeK. JOHN D. MAXWELL,HENliY P. HAVEK. UUSTAV H. KISSELL.
1 hese Securities bear Seven Per Cent Interest pay-
able semi annually, and are ottered for sale at ooe
hundred and two and Interest at tlic office ol ine
Equitable Trust Company. Nos. SI & 54 VVllllam street.
.lONATHAN EDWARDS, President.
8*«'L II. Kekxidt,Praildent.
Cbas. Ii. C. dcpitt,C««bter.
capital, $850,000. Limit, $1,000,000.
State National BankOF NEW ORIiBANS.
{FOKMKKLT LotrialiKA STATI BAKK.)
Traiuaeu * General Banking Buslnesi. CoUectlODB
made free of charge.
Especial attention given to Collections, and Prompt
Remittances made. Exchange purchased on all points
tbe United States and Canada.
Sterling and francs bought and sold.
•i;i_) »»lU I'—
—
CORRESPONDENTS.LOHDDW—London Joint Stock Bank.
Pabis—Messrs. A. & H. Heine.
Niw York—The Bank of New York, N. B. A.
Sah rsAiioieoo—1 he Bank of California, and Tbe
Nevada Bank of San Francisco.
Western Bankers.
F. J. EnanT, Prealdent. 8. S. CoLixsa, Caahler.
The Exchange BankOF DENVER, COLORADO.
Capital Mock, $2t0,000.
B. B. BUBBDSB, Pres't. A. K. Wai-KXB, Caahlet.
First National Bank,IVIIiiniNtiTON, N. O.
CoUectlona made on all parte of the United Statei
Special attention given to Collections, and to tha
Inreatlng of money on brst-clau real estate security
for non-residents.
CORItESPONDENTS.Tradesmen • National Bank, and euman. Son A Co.
New York ; Wells. Fargo A Co.'s Bank, San I rancisco
Chas. F. PaszaL, Wk. Kietis. Cb««dT. WalkiePresident. Vlcc-Pre»ldent. C»>hler.
German Savings Bank,LITTLE UOCK, ARK.
CASH CAPITAL --;. " ' »'«<'«',
Transacts a general banking bualneas, and makes col-
lections on all points In the South and Southwest atJ
reasonable rates. Accounts of Banks, Bankers, Mer-
chants and others solicited.
BoAEB CF DiEioTOES.-O. F. Penjel, Wffl. Klrten,
Judge U. M. Itose. Jno. E. Ueyer. Q. W. Johnson, Geo. 1
BelcWdt. J. K. Brodle. A. Schader. Jno. O. Fletcher.
^
N. Y. CoBEEapoNDENTB, Donnell.LawBon & Co.
THE »IE*V ENOI.AMD
Mortgage Security Co.OFFERS FOB SALB, AT PAH,
SEVEN PER CENT JEN-IEAR BONDSSECURED BY
FIRST MORTGAGES Of IMPROVEDREAL ESTATE.
GUARANTEED. PRINCIPAL AND INTEREST,
BT rra
CAPITAL, STOCK OF $500,000.
Interest Coupons payable reml-annu lly. Bondsregistered to orde', or payable lo nearer at option.
Acci at d Interest. Is not required to be paid by pur-
chaser, i he r.ext-due Coupon bei"g stami-ed so as to
denote lb a Interest begins at the d .le of purchase.
A Pamphlet wbh full iDformstlon will be sent onapplication to the Company's Office,
43 Milk Street, Boston.The«e Bonds are commcndefi to the attention of the
MOST CONSEKVATIVK lNVp.STilll8, as lliey a:e
believed to be as perfect a 'ocurlty as can be obtamed.The lisue of Bonds Is limited to one-half ilie amountof the same class of Bonds ever Usued under a like
Guarantee. „ ^ - , ,
The security of each Bond Is not confined a to single
Mortgage, but extends over »11 the Mortgages ownedby the Compa ly. This Company receives no deponts,
Kuarant eeno other securities, and has no other debts
than Its bonds. Its Mortgages are of like character to
those which have been bought In the last twenty years
by IndlvldiialB, Life Insurance Companies and other
Corporations, to the amount of more Ihan Fifty Mil-
lions of Dollars, proving a most secure and satisfactory
luvf stment. The Loans are all upou Improved FarmsInaonieof ihe most fertile Weatern state*, near the
liallroads. with short and perfect titles, and average
less than i(i,W each, upon property worth nearly fourtimes their amount. Experience has proved that wei-sole ted Mortgages upon tins class of properly are
taler than those upon city property, either in the East
or \\ est. They ae notatlected by Fires, or by Businessrevulsions : frluclpal and Interest are more promptlypaid ; and upon the »u cess of Agrl ultnre dependsthat of almost every Industrial investment.
HENRY SALTONSTALL, President.FRANCIS A. OSBORN, Treasurer.
yiOE-FEEBlI>BNT8;Amos A. Lawrence, Geo. C. Richardson,James L. Little, Thomas Wlggleswortb
Geo. P. Upham.
THOS. r. HILLEE, B. D. WIt,I.IAllS. JMO. W. MILLIE
Thos. P. Miller & Co.,BANKERS,
MOBILE, ALABAMA.Special attention paid to collections, with prompt
reniltunces at current rates of exchange on day of
"""correapondents. — German American Bank, NewYork: Louisiana National Bank, New Orleaua; Bankof Liverpool, Liverpool.
James Hunter,BROKER,
Dealer In Coin, Southern Securities and Exchange
Loans Negotiated. Advances made on Secnrltlet
placed In my hands for sale at current rates.
Address,
Savannab, Georgia.
(P. O. Box 81.)
Retento Beory Talmadge 6, Co., New York; Bontta-
ern Bank, Savannah, Ga.
R. S. WiLLiB, Pres't. W. K.MoALPiNK,Vlce-Pre8 t.
8. U. KiHBALL, Cashier. N.O. Labte, Secretary.
Texas Banking& Ins. Co.TEXAS.
> - - ^300,000.
DtKSOTOBS
:
T. Jefierson CooUdge,John P. Putnam,J. B. Upham,
Charles L. Flint,Henry ^"ItonBiall,Chiiriea L. Young.
OOUNBEL;Hon. Henry W. Paine, Bosloi,Simeon E. Baldwin, New Haven.
GALVESTON,Oauli Capital, • • - '
DIRECTORS : J. E. WalUs. M. Qnln, E. S. JemlsonGeo. Schneider, B. S. Willis, T. A. Gary, W. K. McAl-plne, D. The Ayers. J.Bernstein, J. S. Gilnnan.U.L.Cleveland, Peter H. Rtaard, J. A. McKee.Special attention given to collections at all points
n tne State, and remittances promptly made, wlthontany charge except custoinary rates of exchange.
T. K. Skinker,ATTORNEY-AT-LAW,
417 Olive Street, ST. LOUIS. Mo i
^T" Special attention given to the collection o
MUNICIPAL BONDS.References—J. It. Llenberger. Pres't Third National
Bank. St. Louis ; Wm. II. \V aters. I'rcs't Second Nat.
Bank, fct Louis ; Edward P. Curtis, Cashier Nat. Bankof the State ot Mo., St. Louia ; wm. H. Thomson,Cashier Boatmen's Saving Bank, St. Louis.
BANKERS AND BROKERS,
ST. LOUIS, MO.
DEFAULTED MISSOURI COUNTY, CITY ANDTOWNSHIP BONDS MADE A SPECIALTY.
RAILROAD BOSDS, STOCKS, MISCELLANEOUSAND LOCAL SECURITIES, ETC.
Onr long experience In above class of Becurltlea
enables ns to be prepared to make cash bide by wire
to parties giving full description.
Love & Co.,BANKERS AND BROKERS,
ST. LOUIS, MO.Cash advanced on Stocks and Bonds left for Sale.
Smith & Hannaman,
Adams & Leonard,
TO PRINTERS.We keep on hand tho largest stock of
PRINTING TYPK8In America, otsorted for £nellsh, French, Spantsh,and Portuguefic. wliicti we sell In lots to suit purchas-ers, at low ifrlces for cush.We aUo cleal in hU kinds of new FrlDtlni; Materials
Geo. Bruce's Son 8c Co.,No, 13 Chambers Street, N. Y.
N. B —Tbe Stock and Bond Tables of tho ComvbbaiAL AND Financial Chhoniclk, published In a tup-plement to that pajter. on the last Saturday of eachuouth, and occupying twenty-seven pages, are set In
nrnce'a Nonparlel, No. 12, with their Patent fIguretud Fractions,
BANKERS
DALLAS, TEXAS.
New York Corresponient Konntze Bros.
TBE CITY BANK OF HOUSTON.Capital, $500,000,
H OUSTO N, Te X AS.We give special attention to collections on all acce>
Ible points. _ „ . ,DIRECTORS ! W. J. Hutchlna, P. W. Gray, A. J
Bnrke,Coi Knnis, W. M. Rice, C. S. Longeope.BENJ. A. BOTTS, President.
B. Y. WEEM8. Cashier.
L. ^ -
Western Bankers.
I N VESTMENTINDLANAPOLI8,
BROKERS,INDIANA.
Anglo-Californian Bank(LIMITED),
LONDOX, Uead Office, 3 Angel Court.
SAN FRANCISCO Office, 422 California St.
NEW YORK Agents, J. & W. SeU^;mau & Co.
Antborlzed Capital, - • $6,000,000.Paid-up and Reserve, - 1,55 0,000.
Transact a general Banking business. Issue Com-mercial Credits and Bills of Exchange, available In all
pa'ts of the world. Collections and orders for BondsStocks, etc., executed upon the nioBt favorable termv
FRED'K F. LOW [ w,...p,,lONTATZ STEINHART, J
""''»'"•P. N. LILIENTHAL, Caahler,
A Solid Twelve Per CentWhile bonds and stocks are the footballs of brokers
tbe solid Illinois and Missouri TEN PEU C^ NIS(semi-annually at me American Exchange KatiouiU
Bank, New York) and our choice Kansas IWEL\KPER CENTS havu mner failei. Nothing but an earth-
nuake can impair their atisoluU aemrili/; and aa to
Jroniptness.ask our New York Bank, our paper la
alwavs at par in New York, because almiw paid at
matu'lti/. Have leaned inllUone. and not a dollar bar
ever been lost.-Kor details address ACTUARY of the
Central llllnolB Loan Agency, Jacksonville, IlUuoli
T. O. Box 657.
Defaulted Securities
STATE OP ARKANSAS,
CHICAGO, DANVILLE & VINCENNES UK.,
NEW HAVEN, MIDDLETOWN & WILLIMAN
TIC RAILROAD,
L0GAN8P0RT, CRAWTORDSVILLE & S.W. RR.
CHESAPEAKE & OHIO RAILROAD,
NORTHERN PACIFIC RAILROAD,
OSWEGO MIDLAND,
MONTCLAIR (NEW JERSEY) RAILROAD,
Dealt in by
RIPL-EY & COMPANY,32 PINE STREET, K. Y.
Bankers and Dealers In Interest Faylue City, State and Hallway
Bonds.
COUPONS AND DIVIDENDS COLLECTED.
[' ' t aHA
fnkstirrs ^uptaiitOF THIS
COIHIHERCIAL AND FIMNCIAL CHRONICLE.UBLISHED ON THE LAST SATURDAY OF EACH MONTH
Fnrnisthed Gratis to all Snbicrlbers of the Chronicle.
[Kntared kocordlDg to act of Congreaa, ta the year 13;6, by Wv. B. Daka & Co., la the ofllce of the Librarian o( Cen«reu, Waiblncton, D. C]•^ '^ ~* r-^ lit J i
NEW YORK, MAKCH 25, 1876.
INVESTORS' SUPPLEMENT
Cammernal ouh financial Cjitotticle.
The Supplement ia itaaed on the last Saturday of each month, containing
a complete exhibit of the Funded Debt of States and Cities, and of the Stoclta
and Bondx of Kailroad and other Companiea.
It i» fumlabed without extra charfi;e to all regular anbgcribera of ThkChuunicle; no single copies are sold at the ofllce, aa a auflicient supply is
priuted for aubscribera only.
Transient advertisements are Inserted at twenty-five cents per line; adver-
tisements by the quarter, eiz months or year, at special rates.
INVESTMENTS IN MUCH.There has been nothing in tlie month to put a material check
oi»-tlie demand for investment bonds, and the general tendencyof the market hag been towards firmer prices.
As to United States Government securities, the lessened pros-
^ pect that the bill introduced into Congrees, providing for the issue
' of 4i per cent bonds, will become a law in its original shape, hashad the effect of giving more confidence to the recent dealings in
five-twenties. In discussing the question of the position whichthe credit of the United States ought fairly to occupy, there are
two practical considerations which are uppermost—first, that abond must be offered which complies with the usual requisites of
an acceptable government security in the financial centres of
Kurope, London and Frankfort. It must be a long bond havinga. definite time to run and payable positively in gold. Hithertotliore has really been no bond which furnished a true gauge of
I'nited States credit abroad, as the uncertain periods of the five-
twenties and ten-forties make them an anomalous sort of govern-ment bond, while the currency sixes are not acceptable abroad,and the sixes of 1881 mature so soon that they can not commandanything like the price of a thirty to fifty year bond. Assumingthat the bonds offered are made in a form acceptable to capitalists,
the next question which must be most seriously consideredby foreign money lenders is in regard to the political influences
likely to obtain control in this country. The question of theright of States to withdraw from the Union has been thoroughlysettled by the late war ; and as to the matter of our ability to paythe present outstanding debt, there is not even the opportunityfor discussion, as the total amount is too insignificant when com-pared with the actual resources of the country; nor is there anyprobability of war here, as our interests are all against it. Onthese points our friends abroad can have little to make themhesitate
; and if there is any shadow of uncertainty which wouldpresent the bonds of the United States to the mind of an Englishbanker in a less favorable light than those of the best govern-ments of continental Europe, it must be chiefly in consequence ofhis impression, whether correct or not, that political changeshere might, at some time, place a party in control which would beless favorable to a strict fulfilment of the Government's obliga-tion to its creditors. If this view is substantially correct, it
indicates the importance of having political parties sound on thefinancial question.
State securities will not be likely to furnish a channel for con-servative investments, as there seems to be a decided oppositionto an increase in State debts, and, as we have frequently pointedout, the reduction of State debts baa been in strong coBtrast to
the large increase in city, county and town bonds in the past ten
years.
The large growth in city debts and in the rates of taxation has
at length developed a loud public sentiment agaio.it the further
increase in city obligations. The experience of city bondholders,
however, has thus far been good, and, except in some of the
Southern and minor Western cities, the principal and interest
have generally been paid at maturity. City bonds shonld always
be a favorite investment for local purposes, but it is possible that
an advantage might be gained by giving a priority to bonds
according to the date of their issue. It seems to be manifestly
unjust that the purchasers of the early issues of city bonds, whenthe debt was small and easily manageable, should be placed on
a level with purchasers who came in at the eleventh hour and
paid a low price for their bonds, in consequence of the heavy debt
and the impaired credit of the municipality.
The stock and bonds of corporations, together with real estate
mortgagee, must continue to form a large part of the investments
by private parties in this country, and it is desirable to throw
around them every practicable safeguard, through the means of
reasonable legislative enactments, and by careful requirements
and customs of the several stock exchanges in our leAding cities,
as well as among dealers and private bankers. The bonds based
on real estate mortgages are not a public and negotiable secarity,
and do not, therefore, come within the scope of our present dis-
cussion, excepting those, perhaps, which are guaranteed by a
mortgage company and which thus have a more definite market
value attached to them. We have frequently referred to those
of the Equitable Trust Company, thus negotiated, and It wouldseem that the demand for loans on real estate security will
eventually lead to the organization of companies for the special
purpose of lending on real estate, not at the West alone, whererates of interest are 2 per cent higher, but also in this city andvicinity. The expense of examining title, together with the
positive endorsement of a substantial and conservative corporation
,
should easily enable the borrower to pay 1 per cent for the
services rendered. One of the principal objections now to goodreal estate mortgages is that they are next to useless for sale, or
as collaterals for loans on short notice; they have no ascertained
market value, and it is only after a long and expensive examina-
tion of title that they can be disposed of.
Railroad bonds have grown in favor quite remarkably since the
beginning of the year, and it is difficult now to find good 7 per
cent first mortgages at or near par. The idea has prevailed that
!)he weakness in railroads was pretty thoroughly tested by the
years 1874 and 1875, and this has been encouraged by the consid-
erable improvement in earnings exhibited in the post two months.
Late experience must have suggested to bondholders the fact that
a well secured business and a large annual surplus above interest
charges have been the safest things to rely on for the payment of
their interest. A list of prominent officers or directors (though
important as a guarantee of effective and honest management),
has not raised the money to pay interest in the day of small
earnings. It may follow from this that since the first
mortgages have so largely advanced, the second and third
mortgages of some of the most substantial roads, earn-
ing a large surplus for dividends, offer a better chance for present
investment than the firsts. Some of the Pacific railroad securities
are still selling at prices which yield a good rate of interest on
their cost, and, except for the unsettled questions with the Gor-
emment, and the possibility of hostile legislation by Congress,
the bonds would probably be higher.
STOCK AND BOND TABLES.N O T E S .
Tbeee tkblM are expreasly Intended to be niied in connection with tlie Infonnatlon concerning InTestment matters, publlsbeu from week
week in the Cbroniolb—to which an index la furnislied in the remarks at the foot 9f the tables. Aunual reporu are iu black-taoed llgures.
A full desorlption of V. S. Qovemment Seourltiea is published regularly in the Cbsohicle each month, as soon as the official " Debt State
ment" is Issued.
Prices of all Stocks and Bonds are quoted weekly in the Chbokiclb.
The following will irlve explanations of each column of the tables below:
Dettriplion —Railroads leased to others will often be found under the lessee's name. The foUowluK abbreviations freauently occur, viz.: M. for
"mortgage," s. f. for "sinking fund," 1. gr. for "land grant," reg. for " registered," coup, for "coupon," Br. for " Branch," guar, for "guaranteed,"
Dale of Uomls —The date of issue on the face of the bond is referred to in tlus column.Mila of Ttoatf.—Opposite Stocks, this means the miles of road operated, on wUch the earnings are based ; opposite bonds, the milrs covered
Size or Air Value.—Theee flgure« are dollars, showing the denominations or par value. The flgures " 100, *c.," si^lf)- $1 00 and lai^er.
JiaU Fer Cent.—This interest per annum l8_given_for bond^, but the per cent of last (iivuiend for Htocks ; y means^gQla ; x, extraj^», stock or scrip
When Payable.—i. &. J. stands for Jan. &. July ; P. it A.., Feb. & Aug.; M. & 8., March & Sept.; A. & O.,
D jmie 4 Dec Q —J . ouarteriy from January; Q.—F., quarterly from Feb.; Q.—M., quarterly from March.''
Bond* principal uhen due ; Stock*, last duridend.—Tbe date iu tills column shows the period when the principal
when the last dividend was paid on stock*.
AprU & Oct.; M. & N., May A Nov.; J. i,
falls due of bond*, but the time
STATE SECURITIESSab«erlber« irtll confer a gre^t fltvo' by glvl^^; Imnaedlitie notice ol any erroi- dlacnywred Iu tUene Table*.
DESCRIPTION.
For explanations see notes above.
Jilabama- , ^atate bonds, due in 1872 and extended.
do extendeddo do
Sterling bonds of 1850, extendedSterling l)onds, extended
do dodo do
Bonds of 1866Bonds of 1868Mew 8 percent, loan of 1872
do do 1873New 7 per cent, loanEducational funded debt.Direct loan to Montgomery &. Eufaula RR. .
.
Direct loan to Alaoaina cS Chattanooga RR.
.
Railroad bond iudor»eineut»State certificates and Auditor's warrants- ...
Arkansas —Funding lionds of 1869 and 1870Levee bonds (or warrants)Old unfunded debt, including Interest
Ten year bonds for deficienciesdo do (for $2,500,000) Act May 29,'74
Secured siuking fund bonds (Oct.-Dec., 1874)To Memphis & Little Rock RailroadTo Little Rock & Fort Smith RairoadTo Little Rock, Pine Bluffs & N. (Orleans RRTo Mi88.,^uachita & Red River Railroad...To ArkanfiB Central Railroad
California—Soldiers' relief
State capital l>ondsFunded debt bonds of 1873
Oonnteticut-War bonds, 10-20 year
do 20 yeardo 20 yeardo 10-30yeardo not taxable, 20 year..
District of Oolumbia-Pennanent improvement, gold, coupon or reg,
do do cun-encyFund, b'ds (U.S. gu!vr.,Act8 Jvmc,'74<t Feb.,'75)
Market bouse boud,t, couponPotomac water l)oud8, couponWashington fimding, goldOther Washington debtCorporation of Georgetown
Florida—State bondsConsolidated gold bondsLoan to JacksonviUe, Pensacola & Mobile RR.
eeorgia^Atlantic & Gulf Railroad bondsBonds, act of Mar. 12, 1866 (West. * At. KB.)Bonds, act of Sept., 1870, gold (int. quarterly)Bonds, act of Oct., '70, gold (Int. semi-annual)Bonds, act of Jan. 18, '72Bonds for fundingRR. end'Bein't8(only $2,418,000 acknowledg'd)Brunswick <t Albany Railroad direct bonds. .
Alabama.—The commiisioners, under Isw of Dec.1. 1874. to ascertain, liqnidiite and adjnst. the legal
iitt;iilitie8 of tlie Suite oD its bund-s propo-e sub-
stantially that 30 vear bonds bearing 2 per cent for
S years, a per cent "for next S years, 4 per cent for
next 10 years and 5 per cent for last 10 years, beexchangeJ for old bond-', without any allowancefor past due coupons. The State has been in de-
fault since January, 1874. The value of all taxablepropertyis given at $l(iO,000,000; tax rate, 'ty, mi Is.
The assessed valuation of real estate in 1875 was$81,851,852. (V. 20, p. 139. 5.1^, S70, 581; V. 21, p276, 894, SiS. 684, 612; V. 22, p. 110, 157, 20o.)
Arhansas.—UiAe of taxation, 5 mills. Unfundeddebt is mostly held by U. 8. "The State is in default
for interest. Bv the last assessment for 1872 and1873 the total vnluatlon of properly was $101,972,,J29.
Interest was paid Jan. 1, 1876, on secnred sinkinir
fund bonds, issued under the law of December, 1874,
to pay expenses. A Board of Finance wasappointed in January, \9^\ to confer with hond-hiilders of the Suite and 'hey Issued a notice
as quoted in V 21. p. 161. See Chbonicuc. V. 19.
p. 167, 189, 637; V. wO, p. 139, 16i; V. 21, p. 463,
S90.
Calif&mia.—California finances appear to be in a
particularly sound condition. The State holds In
trust for School and University funds the (500,000
^apitol bonds and $2,063,000 of bonds 1873, Total
valuation of property, 1874, over t6no,000,00n. Tixrate. 50 cents per tioo. A*" the debt is now prac-tically extin;4Uishi.'d, tie r^ovemor advises thegradual cancellation of the bonds held in trust andthe purchase of foreign set-urities in their place.(V. 19, p. 3 of advertisements; V. 19, p. 32.)
Conructlcut.—The debt of Connecticut was all
created for war purposes, and has been reducedsince )8ti6 from $10,00 ',000 to the present flgures bysinking fund pu'chases. The I'-ei bonds are pay-able at pleasure since July, 1871, and those of Im(>4
after October, l,s74. Assessed va ne of real andpersonal property, (358,491,451; rate of taxation, 1
mill.
District of Cd'tTiMa.—The total assessed valueof taxable real estate in 1875 was $93,45i,884. UnitedStates Attorney -General Pierrepont rendered anopininn that the faith of the United Slatesis piedi^ed for the payment of interest on the8.65 londs, but conflicting les^al opinions have'beenrendered as to the ri;^'iit of New y,'rk savi .i£8 b .nksto invest in these, as goverument (seeurities. Theintereiit due Fehi nary, IK'S, was not ,iaid till March,as no appropriation was made by Cnnsn'ess. Thetotal amount of 3-65 bonds issued to February wereas above. (V. ao, p. 88. See also V. 19, p. 15, 61,
142, 189, 477; V. 20, p. »89, 446; V. 21, p. 63, 417,
468; V, 82, p, 181,) '''
' ' -f
> > ,
I'torida.-LeaB 'he sinking fund of $49,900, and J.^P. and M. Ic/in. the total debt is ^I.Tfl.rifl. Realand persu;ial property ure valued ;ibout $.115.00*1,000;
tax rate, 7 mills. The loin to J. P. A M. RR. is
secnred by mortgage on road, and the question as to
the Sta e's obligation to the bondholders wa« beforethe United States Supreme Court, aid decided inDecember, 1875, (V. 21 p. 591). in favor of theState; no interest has been paid on these bondsfor some years past, and a late decision of the StateSupreme Court holds them unconstitutional. (V. 21,
p. 466; V. 22, p. 158, 233.)
Oeoraia.—This is one of the Slouthem States thathas paid the interest on its acknowledi^ed debt, butthe Sta e Legislature declared void all the semi-annual gold bonds of 1870 ($1,880,000), and $102,000of the ou-irterly bonds held by H. Clews A Co.;the Brunswick lifc Albany bonds, (1.500,000; and all
railroad endorsements, except, $l,95fl.i,0'> Macon &Brunswick; $194,010 Ala, A Chati.: $-J40,nD ' No. &So. Ga.; and $3i,(i00 Memphis Branch. Assessedvalue of property In 1874, (273,000,n0i>; in I8T5, $281,-755,884; rate of tax, four mills. Macon A BrunswickRailroad endorsement was declared valid by Leiris-lature of 187 '. but the later issue of $Bne,(ioo wasdeclared void by the Legislatu e In 1875. Governor'sMessage, V. 22, p. 87. (V. 20, p. 83. See also V.19, p. Til, 350, 3T&; V. 20, p. 241, Sa6, 570.)
March 25, 1876 ]STATE SE0UBITIE8.
Subacrfbera will eoiiftr a creat Avar br clrlns Iminedlate aotlM ot any error dlacoTare* In the— TaM— .
DESCRIPTION.
For explauatlon see iioteii on first page of tables.
dodododododododo
lUiiwi»—Interest bonds. Inscribed stockRefunded utock bondsNonniil University bondsThornton loan bondsWar bonds T ,
Itutiana—Bonds, short, loanScliool fund bonds (nou-negutlable)
Kunittui—Himds, 1801 to '09, funding, AcHonds for various State purposesMilitary loan
l.miisiana—BondB for relief of State TreasuryBonds tn aid of various railroadsl,eviM> biuKlR—Act 3.'> of 1805
do Act 11.5of 1867do Hpeciat— .Vet '.Vl of 1870
Bonds funding conponsdo to Boeuf * ( .rocodilc Navigation Co.
Issued to Stn te Penitentiaryto fund tlciatiUKdelit of Stateto MiNHisHippi & Mexican Uulf Canalto Northern Louisiana & Texas RR. Co.80 hool i seminary, held by St. Treas.to N. Orleans, Mobile it Chattan'jta RK.to New Orleans & Chattanooga RRto New Orleans* Texas RR ,
July, 1877 to '78July, 1883July, 1883May, 1894May, 1894July, 1889
Oct., 1888 to '90
April, 1890 t« '94April, 1882July, 1891Jan. 1, 1895
July, 1891 to '94July, 1895April, 1890July, 18771. A July, 1900July, 1894July, 1894
Jan.
/Wnofo.—The d bt hss been rapidly reduced oflato years, am;, without the addition of new loans,will soon be extinguished. The Illinois CentralRailroad charter tax on eamia^s contributes over$400,0uO per ye.'ir to the State revenue. The assess-ment of all prop<;riy ia 187.'j was $1 <l),529,856.
Mnnir^ipalities in Illinois are in some localitiesheavily Incumbered ^vith debt issued to railroads.(V. l!l, p. 15, 38, 526.)
Jiwilanrt.—There are also tl3!>,010 of war bonds.There is s ijueatlon as to the State's obligation topay thi! Wabash & Erie Canal debt. A rrferenceto the origin of that liebt, ari«in? from the State'scomprominc with the bondholders in 1846, will befound in the Chronicle, V. 19. p. 49!; see also p.696. \ suit on the qtiewfion was brought and decreeot sale obtained (V. J', p. S5; V. 52, p. 104). Tax-able valuation, IST.'J—real c«t»ie, $621,416,97.1; i>er-sonal, JS.3!,667,147; railroads, gis.4.i6,9i9; corpora,tions, t.t.i)4.'i,.'y>3; tax ra'e, lif mills. A law per-mitting towuK to i»<ne bonds was passed In 18. 5, thenialn section beins as follows:
"Sbction I.—Be U enrwl' ' h" the G^mral Aiuem-Nij nf ihf Stale nf Inrtla'^a, That any corporatedtown' in this State whi(;h ph. ill liave heretofore, bythe action of its Board of Tnlst es. commenced theerection of any public bflildinflrs. to be used as amarket house, engine hitnse or other public pur-poses, n'ul shall not have the necessary means withwhirh to rom])le'e such buildin.:. on the passage ofan ordinancir nuthorizing the s me by the Board ofTrustees of said inion)oratcd town, issue the hondsof such town to an amount not excecdini; in thesirgrev-aie JIO. 'O, in denominations of not less th.int.'.il ni>r more than *.'>iln. and payable at any placethat may he designated in the bimds; the pilricipalIn not less than one year nor mo e than ten vearsafter the date of snch bond", and the interest,annually or si'miannuaily, as mav be therein pro-Tided, to provide the means with which to completeinch biiildin/s; pr vide ' that sn-h hond<ihall not Im sold ai ii prtce hs" than ninety-fooi cents on the dollar, nor bear a g'eater
rate of Interest than eight per centum perannum."
A sitnilar law was nassed for counties, which, re-
ferring to contracts tnat have been made for publict^uildings, Ac. says that in counties where "suchcontracts have been so made, the board of commis-sioners of such counties are authorized to issuebonds to an amount not exceeding one-half of oneper centum on the as.sessed valuation of the pro -
erty of such county, in addition to any loan for saidpurpose for which bonds may have been heretoforeissued, negotiated and s 'Id. (V. 2i, p. Sl)9.)
iTan^o^.—Kansas has but a small State debt, butthe issues of municipal bonds have been large. Anextract from the State Auditoi's report is given in
V. 30. p. 14. The valuation of real aud per-
sonal property in 1875 was H21.514.aM; tax rate, 6mills for State purposes and an avera'je of 3.78 per$1110 for al Ipurposes. State funds hold f769,85U ofthe bonds (V! *i, p. 14.)
LO'Hfia' rt.— A" constitutional amendment, passedDecember 15. IMTO, limite.l the total debt to$J5,(K)0,l)iin, but it was d-cided thai bonds anthorlzidprevious to the amendment miirht be issned. Thefund'nw bir i assed laniiary S4, 1874, scaledthe debt down to 1 jjcr cent of the face valne. Forconpoiis lacking on bonds funded, similar coup-one are cut from the new bon:ls Issued: interest onconsol bonds is paid In New York, bat no inter-est paid on bonds unfunded; the total consolsissued to -Ian. I. l'*71. wer« as above, and the oldbonds outst inding are given as of that date ac-cording to the statement of the Auditor. The Gov-ernor's message, .l^nuary. 1876. gave bonded debt as18.47 .4+3; bonded and floating debt, Jlu oeLMi.The gross debt reported .lannary t. 1875, by theAudlttir was—honds. i|;2I.K«.:ao: warrants, »l,4a3.!»5'. Nothing was said of the contingent debt,which was |i5.4S«.fJ02 in January. 1874. The same tax,of U^ mills. Id 1875 as ia I'^rt (in 1873 the rate was31^ mUa.) The total assessed valu* of real sstat*
In 1875 was $150,507,073: personal. t40,34»,647; of
which New Orleans had |;9«.468,«69 of real and$26,118,833 of personal. The grO'B revenue In
1875 was $3,186,15.3 and expenses t.3,ia'',;07. The$2,500,000 bonds to New Orleans A ChattanoogaRailroad have been declared void. (V. », p. 78, M,476, 581, 546; V. 21, p. 15, 63, 110, 159, 281, 489, 535,
61.;; V. 22, p 6i.)
Jfoirw.—The sinking funds, Jsnoarr, 1876, re-
duce the total debt to a net amount of $5,872,688,
Valuation of toul taiables in 1875, $2.')6.000.00e;
tax rate, 5 mills. Governor's message in V. 88, p.
62.
Jfaryfon<i.—The assessed valuation of property in
1874 was $468,0.34.812 on which the rate of taxation
was 20S-lii cents per $100; Income from dividendson railroad, canal and other stocks owned by the
State was $1.39,46f. The State has largely assisted
canals and railroads, and holds $6,06S.f09 of stocks
and bonds of solvent companies. leading only$5,304,lii7 of dot without any offset; the State
also holds $22,5.M.188 in nnprodnctive securities.
On two investments only, the Comptroller says that
theStat has met no loss, viz.. the Baltimore AOhioand the Columbia A Port Deposit railroads.
JfoMOcAKWtto.—Governor's message on flnances.V.
22 p 62. AW Interest on the funded debt of
Massachusetts is paid in coin. The credit of
the State stands nich In London and at home.
During 1874 the debt was increased $987,400,
and in IPTT., $4.5OO.ii0O. The sinking funds in
.Tanuary. 1876, were $11,725,809. TheHoosac tunnel
has cost the State over $14..'i0O.n0O. Real estate
assessed m 1875. tl,31i,a31,3J6; ^ersmal, In-
cluding bank shares. #.'>6<i.81.Me2; tax rate, 106mills: deposits in savinirs hanks. $237.848,9«8; cor-
poration property labove real estate and machinery),
$84,213,63-2. The loan to Boston Hartford A EnsRailroad was sscured by deposit of $8,600,0(10
"Berdell" mortgaL-e bond*. (V- **>. V- 386, Ml; V.
81, p. *n; V. 28, p. «.)
Tl STATE SECURITIES. [March 25, 1876.
gabacrlbera ivUl confer a creat favor br clvlne Immediate notice of any error dlecovered In thene Table*.
DESCRIPTIOK.
Forexplanatlona see notes on firstpage of tables.
Date otBonds.
Size orpar
Value.
Amountoutstanding.
rSTEREST.
Bale.When
PayableWhere Payable and by
Whom.
Principal—WhoDue.
Miehigan—Renewal Loan BondsTwo Million LoanWar Bountv BondsSalute Mario Canal bonds ....
Mintiesota—Btate BulldlnK Ix>an
do dodo dodo do coupon
Railroad Bonds (not reoognize4)MissoHri—State bondsConsolidated bondsUniversity and Limatie Asylum bonds—
.
State Bank stock retuudlii^Bonds to North Missouri RailroadBonds to Cairo & Fulton RailroadBonds to Platte Cauuty RailroadBonds to Iron Mouutaiu RailroadPacltlc Railroad of MissouriSouthwestern Brunch Paciflc RaUi-oadFiuidlng bondsRciiewal bonds, coup., l5-20s, (act Moh. 29, '75)
HanuibalA St. Joseph Railroaddo do renewal
Nevada—State bondsTerritorial bonds .,,....
New Hampshire— ,,:.,,^!; / 'A
War loan, coupon bonds '....'
do do ...'....'.
Municipal war loanState bonds
Netx Jeraey—War loan bonds, tax free
I do do dodo do taxable
Nea Tm'k—Bounty loan bonds, coupon
do do registered stock ,j..
General fund debt—Astor stockdo do detldency loando do do do
1858186318651859
18671868186918731858
1865 to -ae186818721874
1854 to '5818,^7 to '591859 to '601854 to '59
18,o3to'591857 to '66
18741875
1853 to '571874
18711872
1861186418721873
186118631864
Canal d«bt. f Under Art. 7, See. 3. of Con-I stitutlon and Art. 7, See. 12.
1827 to '32
184818481875
Comptroller's bonds (by Rev. Stat's)North OaroUna—Railroad and improvement bonds, old
do do do oldBR. and improv't bonds, new (not special tax)
;
,
do do rdo i do« funding bonds, sine* war
do doRegistered certitlcatcs of literary fundPeaiitentiary bonds, act Aug. 24, 1868Special tax bonds
Ohw-Registercd loan, payable after 1875
do do do June, 1881do do do June, 1886
Oregon—Boimty bondsWillamette Canal and Lock
Fenii»i/Ivaniu—Inclined plane loanCoupon loan, April 2, ($28,000 are reg.)
do dodo May 4
Registered loan, May 4Coupon loan of April 19 ($35,000 are reg.)...
. Stook.loftu of Feb. 2 (registered)do do (registered)..do do (coupon)
April, 187811July, 1882July, 1882Aug., 1877Aug., 1877Aug., 1878Feb., 1872,
Feb., 1877 tolFeb., 1877 toi
i
Mc/tigan.—The debt has been largely diminishedIn the last few years. Assessed valuation of realand personal property, 1871-72, $1)30,000.000, and taxrate 3*^ mills. Surplus revenue is applied to pur-chase of bonds. (V. 20, p. 139.)
Minnesota.—All the State bonds are now held bythe permanent school fund. Minnesota is usnallyclassed amoncj the States wiiicll have avoided theirobligations, In consequence of her refusal to recog-nize the "State Railroad bonds" of 1858 to theamount of $2,a75,000. There seems to be a growingfeeling in the t^tate that those bonds should be•ifknowledged- See Governor's Message, V. 22, p.M. Property valuation, 1875, $218,855,743, of which$4.'i,i«2.4a7 was personal; tax, 21-10 mills. (V. 19p. 49.S.)
Jfi*^o;/ri.—Valuation of real and personal propertyin 1875 was $,549,.'W3,471. upon which the tax is 4^mills. Railroad property was assessed at $54,849-312, as returned to C'onnty Courts; but at only$19,891,141, «s returned to the State Anditor in1875. The State had $1 '138,000 bonds maturingIn ISrs, and $8,907,000 in 18TS. To provide forthese, a law of 1875 authorizes the sale of new bonds.The Hannibal & St. Joseph Railroad provides for itsown debt. Bonds falling due are paid in currency,pursuant to a resolution of the Legislature, althoughsome of these bonds are payable by their terms in" gold or silver." Some difflcnity has arisen aboutthe last six months' interest due oA bonds maturin"(V. 30, p. 83, IBI, 290, 313, 3:38, 383. 477; V. 21, p.277; V. •«, p. 88.)
Nerada.—The debt of Nevada is hardly more thannominal.New ITaMpeMre,—The debt of New Hampshire
was.ereated for war purposes, and is being rapidlyreduced. The Municipal loan of 1872 was issued tocities and towns, the proceeds to he used in reducingtheir several war debts, which the State thus as-sumed.
New Jermi/.—Thc debt was created for war pur-poses. Of the first two classes of bonds the princi-pal Is payable, $100,000 per year. Valuation of real
and personal property in 1675 $B12,7S1,094, against$619,097,903 ; Stafe tax, 3X niills.
New York.—There is also $68,000 contingent debtto Long Island Railroad, and $7,361 per annum forIndian annuities. The debt of New York State hasbeen created chiefly for canals and for war purpost's.The latC'Sl canals are a failure; but the Erie Canal,though expensive (jiartly through political fraud inits management), has been a great success as an in-
ternal improvement. An abstract. of the Governor'sMessage was given in V. 22, p. 6'J, showing a netreduciion of $2,744,505 in the debt for year endingSept. 30, 1875. The following were valuations andtax rate for State purposes m the year 1859, andfrom 1870 to 1871
It appears that the assessed value of real estate bylocal assessors is $1,750,698,918, while the full value,as estimated by the State assessors, is $4,168,3.30,757.The Comptroller says the actual value should beadopted as the basis of taxation. The debt decrpji.sediu 1873-4 $3,649,570. The actual value of real estatein 1874 was estimated to be $4,168,3.30,7.57, and totalamount raised by tax. State and local, was $57,811,-381. The local debts of cities in New York State are$13",539,6''9 ; of counties, $46,68>,264. and towns,$26,140,181. (V. 19, p. 350; V. 20, p. 26, 60, 615; V.2i, p. 63.)
North Cat^inn.—North Carolina is heavilyburdened with debt, im proportion to her tiix-
able property. A lengthy extract from the Treas-urer's report was given in V. 20, p. 84. Totalnroperty was assessed in 1872 at |128,.507,628, alow valuation. Interest Is paid on bonds issuedto North Carolina Railroad ($2,800,000). as theState holds $3,000,200 stock and receives div-
idends thereon. Other interest in default. A fa
ing bill passed the Legislature March. 1875.
Chrosicle. V. 30, p. 3.36.) In New York bo:
are classified thus: "Old," being those issued pi
to May 1, 1S61, coupons on from Jan. "69; "N. C.
R." issue of $2,800,000 to that road, coups, on si
Jan, & April, '69; fame " conp. off" have hacoups, paid; "funding act '66 can'v coups. Ji
'69; " funding act " 68 carry couimns A]'69. " New "—anthorized before war, except $1,5
000 in 1868; "Special tax, 1st," carry coup, .\p
'69; " ad " coup. of Oct, '69 ; "3d" coup, April, II
(V. 18, p. 166, 629; V.20,p. f4, 161, 283; V. 21, p. 5
OAfo.—Ohio has a very small State debt,
large local debts, amounting in 1875 to $25,967.
Valuations in 1874 were : Real estate in cities, i
$.366,031,T31; other, $69H,883,.323; personalty, $5660,M18, Tax rate in 1876, 3 2-10 mills for State,
;
an average of 25 9-10 mills for local puriioses.
the 1875 loan above $868,2.30 was paid Jan. 1, 11
and the balance April 1. Report on State and hdebts, V, 22, p. 64.
Oregon.—The debt is provided for by sinl
funds, payable from land sales. Taxable propi
in 1875 was assessed at $41,197,149; )<,' mill
was laid for Relief bonds and 1 mill for Boubonds,
Pennftilrani!%.—ToU\ debt Nov, 30, $23,233,
available assets. $9,466,572; net debt, $13,766.
The financial system is remarkable in Pcnnsylvain the fact that no tax is laid for State purposereal estate. Revenue is raised from numeisources, principally from corporations. Taxeslevied on personal property, which was assesse$159,382,242, and the tax was $674,817 in 1875. Sexpenses have lately exceeded revenue, and sinl
» funds have been diverted to meet the deftcie
The State holds |1.751,:521 in stocks and $10,551of railroad bonds. Interest is paid in gold on al
State debt issued prior to 1867. Any coupon bemay be changed to registered. The bonds du.
1877 are payable at any time tiU 1882; those of
tm 1892. (Y. 21, p. 187; V. 22, p, 64.)
it
A'arch 25, 1876.] STATE SECURITIES. u
Snbscribers will confer a Brest laTor by ttrlnm ImmedlaW b»U«« «I any arror <l»coT«red In th«»g TabI—.
DESCRIPTION.
Forexplauatlons see notcsoii first pageoftablcs.
reiuuulmnia—fOonlinufd)--Btock loan ot Feb. 2, (roristored
,lo do (rcKlstBrea)
do <lo (registered)
AftrlMiltiiral College land scrip
Rhnile Islaiut—Wttr bond
dododo
S«ulh VaroHna—State stockState House stock
do bondsKiindinK bonds and stockBine Rtdgc Rallroiul bond»Kundlntt bills riwivabloPayment of InteifstFunding bank bills
Conversion bonds and stockLand commission bondsFire loan bonds, sterling
do stock, domi'stli^.
Date ofbonds.
Size orpar
value.
Bonds—Relict State Treasury.Consolidated bonds, coup. (Funding act)
do stock (Funding act)
Railroad endorsementsTenn«jw«—
, ^ , ,„_„New funding bonds, act of 187dBunds registere<l, act of 1873Fundable imnds and coup, not yet presented.
Bonds, registcriihle, not presented ;••Held by E.T. University (not to bo funded) . .
Q.^I. Columbia, State Trcasnry.J. A J. do deJ. A J. do doJ. A J. Columbia and New York.J. A J. Coliraibla, Treasury.,V. A O. Columbia and New York.A. A O. do doJ. A J. do doJ. A J. do doJ. A J. do do
J. I/Ondon.3. Columbia.
J.' A J. Columbia A FIs. Agon. N.Y.J. A J. New York or Columbia.J. A J. do do
Feb., 1877-1882Feb., 1882-1S92Feb., 1882 1892
J. A JJ. A J.
J. A J
VariousJ. A JM. A SM. A SJ. A JJ. A JJ. A J
March, 1882April, 1«93July, 1893Aug., 1894
At plcamire.J8T7to'861871 to '80
July 1,1887 to '97July 1,1875 to '70
July 1, 1888July 1, 1888July 1, 1889July 1, 1882
N. Y., Fourth Nat. Bank,do do
J. A D.J. A D.
J. AJ. AJ.J. AJ. AJ. AJ. A
N. Y., Fourth Nat. Bank,
N. Y., Bank of New York,do dodo dodo dodo dodo dodo do
Boston, N. B. Mut. Ked'n.MontpcUcr, Treasury.
New York.Richmond. Treasury.
Ijoudon, Baring B. A Co.New York.
Richmond, Treasury.dododododo
July 1, 1868July 1,1868
1888July J, 1893July 1, 1893
JuWl1875 1
London, Baring B. A Or^
1914to 19001900
1875 to 1900Various.
1877 and 1891Jan., 1884
1910Sept. 1, 1876
1892March 1, 1904
1894
1875 to '78
1875 to '90
1880 to '95At pleasure
188610 to 34 years10 to 34 years
190.T19051905
Contingent1905
Rhode /sJo/Ki.—The debt was all crested for war
purposes and is beiiiR uteadlly diminished 1 tie
valiiation of real and personal property m 1873 was
^11,798,580, and tax rate 30 cents on $100.
80 Carolina.—The Giovcrnor's message on finances
in V. «1, p. 535. The funding law approved Dec.
as. 1818, provided for scaling down the old debt by
§iving new bonds to the extent of 50 per cent, and
eclared void the couvcrsion bonds to the amountof t5 965,niX). Tiie .lauuary and July interest was
paid on consolidated bonds, but a loss to the State
of about $200,000 cish by failure of a trust com-
pany caused a suspension of pojments afterwards.
Total valuation of all proiwriy—in 1875, real estate,
»88,m.l!18: personal, $46,791.00e; raw of taxation
in 1874, IS, mills. (V. «0, p. 81, Ul, 291, 358, M7;V. 21, p. 489, 1)14.)
TmnetMt. — On the first July, 1874, the pay-
ment of interest was resumed, and the interest
due January 1, 1875, was paid by help of a
loan of $300,000, but dcfaalt again made July,
1875. The Governor's letter in December. 1875,
on the finances, discourased the cxpectntion of
further payments soon, and suggested funding.
(Sec V. i\, p. 614.) The State Treasurer, February
96, 1875, gave the following estimutes for the then
current year:
KSTIXATED EXrBNBIS.
Total interest per annum on bonds $1,4.10,(554
State government expenses 661,<08
Total expenses **'S*'™Due fiscal agent Jan. 1,1875 ^'/SHOdtatmdfaig warrants »«4,076
Due poll-tax fund $S7,100
Total requirement for current expensesaHa floating debt $2,658,594
KSTIMATED RECEIPTS.
SUte tax of 40 cents $1,:)60,000
Privilege tax 331 ,000
Clerks of courts, Ac 108,000
Total current receipts $1,789,000
Deduct 15 p. ct. commlss'ns, Ac. 204,000
Net receipts $1,585,000
To be received from taxes 838,406
Total receipts all sources in 1874 2,42:3,406
Duflcit $280,585
Subsequently laws were passed to tax railroads,
which it was claimed would give an increase of
revenue over 1874. The law passed in March,
1878, provided for funding all outstanding, legally
issued bonds, doe between July 1, 1674, andJuly 1, 18S4, as well as all past due coupons,
and coupons maturing on or before Jan. 1. 1874, in
a 10-40 year 6 per cent bond. The total debt given
above is substantially, according to the last report
of the Comptroller, January, 1H75. The Comptroller
estimated acht of solvent railroads at $3,!JSR,8*i;
due from purchasers of railroads then sold, 8''i3.000;
value of Knoxville A Charleston road. $100,000. TheState's endorsements for r:iilr<)»ds are $1,802,000, of
which $1,600,000 is taken care of liy the roads. Total
valuation of real estate, $38'.»,000,000, and raUroad
property, $51,000,000. The rate of Uution ia 40
cents on the $100. Tennessee bonds sold m "Old"are those Issued before 1862, and having couponsot July, ls69; Old "ex coupon," have only the
conpon of July, 1875; " New," bfsued since ISOi car-
rying coupon of July, 1869, " ex coupon" July, 1875,
onlj; "New Scries,'' the new funding bonds. (V.
18, p. 143, 217. 350. 497: V. 19. p. 167; V. 20, p. 14, 84,
161, 282, 491 ; V. 21, p. 87, 318, 614.)
TVsKM.—The State Comptroller, in February,
1876, rciiorted total funded debt $4.249.7.57; fl»ating
debt, $.")4.3,1,37. and bonds of douhtful validity
remaining in hands of State Treasurer, $.'(12,210.
The valuation of taxable property in 1875 was$350.8'i3,769, against $»»:.84t.880 in 1874. Tax rate,
50. (V..19, p. 15, 117, 14i; V. 20, p. 84; V. 23, p. 881.)
Vermont.—T^iifi Slate has a very small debt—«11created for war purpose-s. Of the registered bonds$1.33,500 are held for Agricultural College. Thesinking fund, Aug. 1., 1874, was $37,932.
T'Srsrinta.—The Funding act of 1871 provided
tha' coupons of the funded bonds should be receiv-
able for State taic:. For J-3 of the old bonds anew bond was issued, and for the other >,' a deferred
certiflcato given (as the proportion due by WestVirgiiiiai. The act of 18:2 amcndeil that of 1871 bynot allowing cou|ion8 to be received for taxes. All
the amounts maikcd (*) may be funded under the
amended act of 1872. The sinking fund holds $2. 146,-
98-' of State bonds and certificates . Interest due Jan.,
1874, was paid in part (2 per cent) in Jnly, 1874. All
interest overdue and unpaid to Sept. 30, 1875, (on
the basis of 4 per cent.i was $1,199,864. Assessedvalue of property is $.129,424,153: tax rate, 5 mills.
Auditors report. V. 21. p. 604. (V. 1", p. 395 508,
sae, 582; V. 90, p. 14, m, 336, 375, 547; V. 21, p.
»a7,ao4.)
TUl CITY SECURITIES. [Afarch 25, 1876.
Snbacrtbers ivlll confer a great fliTor bj slvlns Immediate notice of anjr error <U«eovere<i tu tbese Tables.
DESCRIPTION.
For explanatiooB see notes on first page of tables
Date ofBonds.
Size orpar
Value.
Amountoutstanding.
INTEREST.
Rate.When
PayableWhere Parable and by
Whom.
Principal—WhenDue.
Albany, y. T.—Albany & Northcim Railroad loan.Relief of drafttKl menPurolmse Coiijfress Hall BlookOil}' impnivt'iiientWuHliin^ou ParkCity im proveiueutNew Post OIHce siteWat<ir stock.Additional supply.~ " ItoAlIbany A Snsqnehanna RR.
.
Albany & W. Stockbrldge RR.Bonds loaned
doAugiwta, Ga.—Bonds for various purposea
Baltimore—Consolidated loan of 1890Water loanConsolidated I>ouiity loanExempt boimty hiauPublic parks (Druid Hill)Park improvement loanFive million loan to Baltimore & Ohio RR.One million loan to Pittsburgh & dnoln'ti RRNew City HaUdo dodo do
Consolldated loanCourt house loanFunding loan
dpWestern Maryland RailroadJones' PallsValley RailroadPatterson Park extensionEndorsemeuts for York & Cimiberland RR. .
European <Si North American RfUiroadBangor <fe Piscatiuiuis Balli'oad
Boston—Renewal city debt, sterlingFor city purposes, war debt. &c
do do doBurnt district, sterling loanConsolidated street improvem't, sterling loan.Roxbury debt, assumed
. Dorchester debt, assumedCharlestown del)t, assumedMystic water debt, assumedBrighton debt, assumedWest Roxbury debt, assumedWater loan, new main, Brookllne Reservoir. .
.
do Chestnut Hill reservoirdo renewal of loan due '70-71, all reg.do do '72-73
Water works, Roxbury, coupondo Roxbury & Dorchesterdo Dorchester, all registereddo W. Roxbury & Brighton, all reg
Additional supply waterVarious purjwses, for water worksWater loan bonds, gold, coupon or reg
Brooklyiir—Debt of WilUamsbiu'gh, local improvement..BrookljTi local improvement loanMount Prospect Square loanSoldiers' aid fund loanNational Guard and Voliuateer Firemen's loanThird Street improvement loan, localGowanus canal improvement loan, loc^
1875 to '92Oct., 18781876 to -99April, 1901Oct., 19021880 to '99
1901 to 1905Jan., 1901
Jan. A April, 19051902 to 19041901 to 1904Oct., 1905
1879 to '8118911887
1885 to '941880 to '81
18811876 to '901876 to '901876 to '901877 to '861876 to '951876 to '951876 to '90
18771879
1901 to '241915 to '241915 to '24
Albany.—TYiae are sinking funds for mnnicipalbonds and fer water stock. The loan to Albany &Sueqneh. is secured by 1 ut mort. The aesessed valua-tion of property in WA by State authorities was:Real estate, $4S,'6I,3()3; personal, t(v')08,l(i;; total,149,669,30). EBtini..ted true value of real estate,$108,764,770.
'
.4t*5rf/»<o.—Bonds created chiefly for city improve-ments and other municipal purposes.
Boi/wnore.—The flflcal year of Baltimore endswith Oct. 81. The city credit has been loaned ex-tensively to railroads, m exchange for their seciu-i-ties, which it hold" to a larijc nominal amount. Thesinking fund for Bait. & Ohio Itiilroad $5,noo,nooloan is $1,746,973; West Maryland R-iilioad sinkingfund, $ll9,Ii;5; and the total of the several othersinking funds, $6, i57,St)l. The Bait. A Ohio RR.pays interest on $.5,000,00(1 Ipan : Water loan is paidby income of water works, and Public Park by CityPas8en(;er Railway, and out of a total debt of$.)2,943,425 only $)6,1.'>4,:9! is dependent on the taxlevy. The assessed value of property in 1875 is
$831,848,613; tax rate, 1875, $1 80 on the $100 for citypurposes, and .20V for State. Popnlation in 1870was 267,354, against 812,418 in 1860.
Bangor, Jlf«.—The valuation of real and personalproperty is $10,5in,(i9l; rate of taxation, 8.90 percent The loans to European A North AmericanRailroad and to Bangor & Piscataquis Railroad aresecured by first mortgages on those roada.
Boettm.—Tbe popnlation of Boston in 1870 was298,497, against 177,sin in 1860. Valuation of realproperty in 1875, including the recent annexations,was $568,799,500, and personal, $284,898,400; upon
which the rate of taxation is tlS 70 per $1,000—$18 66of this for city and $1 04 for State purposesagainst a total of $15 60 per $1,(X)0 in 1874. Thetotal debt, both funded and unfunded. atthecU.seofthe last fiscal year, April :10, 187.5, was $43,512,6:1, andthesinking I unds, bonds, mort{.'a'_'es, Ac., $111218,402.The sinking fund provisions are sufficient to meetthe debt as it matures. In March, 1876, Mr. Turner,city auditor, gave his estimates for the revenue le-quired for the coming financial year 1876-77, com-mencing May 1, !876. This estimate is based on anassumption of meetina the actual wants of themunicipality and avoiding the borrowing of moneyfor other than the water works, and extensive andcostly improvements; the tax per each $1,000 *illhe reduced from $13 70 last year to $13 45 per $1,0C0this year. The following is a comparison of the ap-propriations asked for and income to be received,compared with the estimates for 1^5-6-
Appropriations.Income
Per centage.
1875-6.
$13,802,305. 2,861,425
$9,437,'80383.136
1876-7.
$11,331,3872,93'i,900
$8,391,487851,745
$9,781,016 $8,643,232Placing the tax to be paid to the State at the sameas last year, the estimated tix warrants exhibit thefollowing result:
—The .Mayor, in his message. January, 1876, statedthat the Hebt chargeable on taxation decreasedin 1875 #5,2-:f, against an increase of $512,08'> in1874, $2,426,516 in 1S7.3, $1,591,411 in 187?, and$3,590,581 in 1871. Population in 1S70, :J96,200. against866,1)61 in 1860. Valuation of propi rty in King'sCounty in 1874, by the State Board of Eqnalization,$179,085,370 for real estate, and personal, $18,975,980;they estimated the true value of real estateto be $426,393,740. The Board of Supervisorsvalue the total taxable property of Brooklynin m;5 at $255,1"S,7.',5. or about H.5 per cent of truevalue. The debt of Kings County, separate fromthe debt of Brooklyn, is $ ^9:36,0 lO. of whieh thecity is responsible for about $3,7:19,200. Averagetax rate in 1875, $;i 41 per $100, against fcj 68 in1874, and $8 46 in 1873, (V. 19, p. 1-12. 6 12; V. 20. ».580.)
"
d
March 25, 1876.] CITY SECUEITIES. IX
Su baorlber* nrlll eonftr a Brest niTor br glrlag ImmedUite noUo* of anr error dlaeoTei^d la theee T*UeaDESCRIPTION.
For explanations see notes on flrst page of tables.
Brooklifn—(Continued)—DeflcicBcy bondsFeniuineut water loan
«lo doS<!wei-nf;e bonds, continuous, localArist-sriinent fund bonds, continuous local(Vntrat uiid Kiilckcrbockur avenue boudsHuiitli lirooklyn do dolioulirvurd bonds ^
Tciiipiiiary tax certifloatesBiiffulo, ,V. r.—
hSiiidfil ih'bt bonds, v:irif>UM jiurposesUiitt':ilo A Janu'stown KiiitroadKwllalo Now York & PliUailclpUla Railroad. ..
Water works bondsPark liondH (Act May 17, 1875)
Cfitirlftitnn, ,S'. C—VMy stockCity lionds, couponFire loan bonds, couiwnCoiivi'i'slon bonds, to redeem past due debt...
Vfiii-itf/o—Watt- 1* loan
doSewerage bonds
doRi vcr iiuproveuient bondsMimici|>al boiulsMiuiiiinal and Scbnol bondsSouth Park loan (secured ou South. Div.)West Clikago Park (secured ou West. l>lv.)...t'otik County debt
jOincinHuti—To build Eggleston 'avenue sewer B2Ixians to Ratlrofvds F, A, Ci. U, I,!(c MItoiiils to O.ife M. RR. to nurcliasc wlif. prop.NRoiids for erection of a WorkhouseJiouils for Water Works CH&Cailoiuls for Coinnion 8chooI purposes P2iHolnis for Coniuton .Scluxti piir|>os<'s PRiuiils to O. & M. RR. to purchase whf. prop. .NUomls forcvt. anil iiupr. Water W..C, D. &EHoiiits forfuudiug tloutiugdebt A2Boll) Is for new lluspital SBonds for new Ho.spital 82Hoiuls for fuiiiliiig tfoating debt LExti'tisiou and improve. Water Works. ..K &FHouds to purchase Orp'n Asy 1. grds. for park.OHoiuis for sewerage RRoods for iniproviug tJilbert avenue UHoiiils to build Eggleston avenue sewer B3Bonds for iniprovenient bonds WBonds for Water Work purposes C4General improveiueut WHCinciunati Southern RR
do doFloating debt, bonds, couponWater-works bouds
M. A N.A. A O,M. A N.J. AD.M. A N.J. & J.VariousM. A S.
M. A S,
M. A S.
A. A O.M. A S.P. A A.J. A D.J. A J.J. A J.M. A N.
Various
J. A J.VariousVariousVarious
VariousVarious
VariousVariousVariousF. A A.
VariousVariousVariousVariousA. A O.
i(i//?'«to.—The funded debt, .January 1, isrii, was8tl,71;l.:9fl, and lloatinf,' debt, J;«lii.0'J3. In 1875 realeatiite was assessed at 8:i:i,'j43.7:i.i. and personal at$ti,uai,37()—total, $;w,9(iB,105. Buffalo also pays 7-10(bitiMi; $718,390) of Erie county debt. (V.2i, p. 233.)
t'/uirlenlon, S. 6'.—The bonds of Charleston aremostly held within the State of South Carolina.The total assessed value of property in 1873 was$J7,!)78,9«1 ; rate of tax. a per cent. Sinking fundsreduce the total debt to t4,l)7J,()(W.
Chicago.—The total funded debt at the closeof the year 1875 was $1.1,457,0(1(1. Certiticalesof i:idebtcd[ies8, $4.(>ll,0i)(i. Assessed value ofreal property, '74, *«8,54H,3I0; personal, *45,1.'J.5,S30—total, «30C),705,140. Tax rate, 18 mills. The IllinoisState valuation is $S-J4,118,8-iO, and the c|iy debt islimited to a p. c. of that. The comptrollbr say.*:"Owing to the wise provision in the Constitution ofthe State our funded debt cannot be increased abovethe present amount for some years to come. Of our»l:),47H,oiilj of funded debt t4,58I.(XXI is on account ofthe Water Works, which last year yielded an incomeof |,3<I,14-1 21, and from the rapid extension of themama and increase of population, will yield mnchmore largely in future. Practically, therefore, theamount of our funded debt is $8,8a7,00l), bciu" theremainder after deducting the water debt. Fromother sources the foliowins; is compiled:
Year ^——.\s8e8sed Value. , Tax,0,^ Keal Estate. Per. Estate. Rate.
June A Oct., 1900March, 1908Sept., 1899Sept., 1899Oct., 1899
March 1, 1886Aug. 15, 1886Dec. 1, 1S91July 1, 1902
1902May 15, 1904
1878 to '931875 to '941887 to '92
18941893 to '941875 to '881878 to '841875 to '881875 to '841875 to '80
1876 to '951875 to '89
1875 to '891875 to 19051879 to '911892 to '94
1875 to '851880 to '951881 to '931875 to '861885 to '98
Year • Assessed Value. , TaxReal Estate. Per. Estate. Rate-
1869 211,3.1,240 5».«.ja,»40 15 001S70 2-»,(>4:!,«0() 62,312,950 15 001H71 !B6,898,fioO 52,811,820 10 00IS?* 239.1.54,890 45,042,5*) 15 001873 862,9<i9,^0 49,1M,17.'> 18 001874 258,549,310 45,155,830 18 00Population in 1870 was 3)6,805, and in October, 1874,395,246, against 109,21)0 in l.siio. Cook Co. debt is all7 per cent, and interest is all pavable in J. & J., or inM. & N. The So. Park, W. Cliieago Park, and Lin-coln Park loans are not debts of the city, but ofdistinct corporations. (V. 21, p. 207.)
Cincinnati.—In addition to the issues abovenamed, there remain several small amounts, asfollows: $35,003 (T.) 6s, dne .Inly, 1878; $108,000 .5s
November, 1885; »5«,C0O (YY2, A O.) (is, 1886-88;$17,000 6s (Q.), November, 1890; $27,000 68, (A.),March, !.e97. B/ the census of 18T0 populationwas 2t(f,(»00, against 161,011 in 1880. Tax rate for1875, $38 8-2 per $1,000, against $2:1 38 in 1874. Un-der the laws of Ohio reufestate has been valued forpurposes of taxation once in ten years. The follow-ing table from the books of the Auditor of HamiltonCounty, Ohio, exhibits the assessed valuation of thecityof Cinciunati in tUeyearlStiOand from';0to'74:
The debt of Cincinnati, exclusiveof the new loan forthe Cincinnati Southern RR., was small, beins lessthan $5,500,000. The city will be the sole owner ofthe stock of this railroad, and thus not *' old inbuilding railroads," Ac. (V. 18, p. 4M, 526; V. 20. p.14; V. 21, p. 511; V. '22, p. 209.)
Clevehnd.—The total valuation of property fortaxation is $73,210,144 and tax rate 18 if 10 mill«, ofwhich 4 X mills are levied for interest on the debt.The sewer, street impruvemeiit and street openingbonds are for special local improvements, and re-deemed by assessments on the property benefitted.
Columbus, Oa.—The total debt is $582,500, andthe annual interest required about $10,000. Boudsare all coupon, and were issued in small amountsas wanted ; 25,000 fall due each year. City holdssome stocks and other property. Valuation of realestate, 1875, $3,923,575.
Deti'oU, AficA.—The population In 1370 was 79,601
:
in 1874, by State census, 101,06:1. The value ofwaterworks is $l,!i89,888, against a debt of $1,100,000.The water works bonds are issued on a pledgeof tlie city credit, and $75,u00 per year cS-lected in taxes to pay interest on them. As-sessed valuation, 1875, real estate, $20,2SS,87S;personal, $7,448,75S-toul, $27,774,680; true valueestimated at $92,582,100. Tax rate, $3 92 per$100.
KtizaMh, N. y—Total debt of the city of EUca-belh August 1, 1875, was stated at $5,400,000, as fol-lows: Uencral debt, <950,IX)0; assessment debt,$4,450,000. The sinking fund has to its credit$9(Xt.0OO. Valuution of real and personal property,$32,000,000; assessed valuaUon, $16,000,000. Taxrate is $2 66 within the lamp and water dlJitrict, and$2 18 outside. Papulation in 1875, 35,000.
CITY SEOUBITIES. [March 25, 1876.
Suba«rlber« will oo'nnir Kreat favor by kIvIiic Immediate notice of anr error dlaeoTered la these Tables.
DESCRIPTION.
For oxplanatious see notes on tirat page of tables
QalcfJi'ont Texasnoiicls for harbor ImprovcmeutCity piirk bunds (pureliasc of block 321)lioiKlB for various purposes
Iniiianapoli»—Boiifls to railroadsIiOiin bonds, series AI^ian bouds, scries B
do do CI^oan bondsFurcliase-mouey bonds—Southern ParkSchool bonds—By Board of School Comm'rs.
Jersey City—Water loan bonds, mostly coupon
do do doImprovement bondsForty-year bondsluiproveiuent bonds
do doMorgan street dockCity bonds, couponFunded debt bondsUudsou Ci ty boudsBergen school loan bouds
do sewerage bondsdo Improvement and ivater bondsdo bounty loau
Orcenvlllo street improvement bondsImprovement ccrlitlcates (5 year law)
Louisville, Ky.—For Jeft'ersouvillc Railroad stockSubscription to stock odL- & ^- RRWater works
doFor Improvement of streetsIte-coustructing streetPublic buildiuKS aud institutionsPublic school and school bousesSewer bonds
doElizabeth A P. RailroadWharf propertyJail boudsFor old liabilities
do doLouisville, New Albany & St. L,. Air Line RRChange of gauge, Louisv., Cln. & Lex. RB. .
.
Roadbed do doCity bonds payable by railroads
Memphis, Tenn.—School and paving bondsPost bondsFunding loan, goldMlsHissippl River Railroa<l bondsKndorsement Memphis &. Little Rook RR
ilUwaulcee—Re-adjustment bondsGeneral city bondsWater bonds, coupon
do registeredScrip to settle old railroad loans
MohHn—City debt A, B, C (payable annually till 1891)City debt D, E, V (iiayable annually till 188G)Bonds to Mobile iSt Gre.at Northern Railroad..Bonds to Mobile & Al. Grand Trunk RBWharf bondsCity funded debtTo Mobile & Northwestern RailroadNew funding bouds
tleteark—Bonds, various city purposes (s. fund of 1809)War bonds, tloattug debt, <fec. (s. fund bf 1864)Public school bondsClinton Hill bonds, coup. <fc reg. (8.fd.3 p.c).Sewer and improvement bunds (local Hens). .
Galveslon, Texas.—Tha total city debt is |87.3,00O,of which all arc 10 per ct. currency cxcopt $106,S0O.
Indianapolis.—The assessment of taxable proi>-erty In 1874 was J67,801,546; taxes for that year,$510,026, or a levy of $1 35 per $100. Total debtJuncSO, ISIS, WU8 jl,455,ono. The Scliool Board is
a distinct organization from the city, created by ast^arate act of the Lc2ii*lature; levies its own tax,which is collected by the City Treasurer. The citywarrants arc disconnted when sold. The floatingdebt of this character, .Jan. 1, 1875, was $iOO,000,payable during this year.
Jersey CUy.—Tho total bonded debt of the city,April 1, 1875, was stated nt J;I4,!M7,500, as follows:General, $3.558,0<)0 ; assessment debt, t6,0(it',500;water debt, $4,6«),00(i. • The sinkms; fund was$525,565. Assessed valuation, including railroadproperty, la $88,4im,8a5. on which the tax rate is $3 (Mper $100 on $63.4%,a55, and 1 per cent on raUroadproperty assessed at $1
1,000,000. I'opulatiou by State
census m 1875 was 110,883, against 85,000 by U. «.census of 1870. (V. 13, p. 190.)
Louisville.—The funded debt, January I, 1876,exclUBivc of railroad loans, was 88,.3:KI,(i00, against8-',501,Oi'0 Januiry 1, ISI'J. Of the $8,:Mii,00n thereiri payable out of the sinking fund $3,705,000; pay-able by spet'ial tax, $4,625,000. Assets of thesinking fund, January I, 1875, were $8,180,625.The revenue of the sinliing fund in 1S74 sppUc-able to the payment of mtcrest and principalof this debt was—riom licenses, $237,844 46; fromwharves, $2,3"1 54 ; from taxes. SSSL.'iO? 45; frominterest, $6.5,829 36; total. $557,612. ropnlatlon byeeneusof 1870 was 100,750, against 68,033 in 1860;now ofltimatcd upon tbo basis of 7 to a voter makesISO.OOO. Aseeseed value of property, about $79,-
1891, '92 A 19031883 to '89July, 1898June, 19011888 A 19031878 to 1898Oct. 1, 1898
18891880, '94 A 1901
Sept., 1891Feb. 1, 1880
July, 1901 A 19031881 to '93
1873 to 19021873 to 1900Nov., 1900
July, 1872
June 1, 1891Jan. 1, 1901Jan. 1, 1902Jan. 1, 1902
Feb.1,'75, '6, '7, '8
1875 to '911875 to '86
1885July, 1899Nov., 1895Till 1901
1901
1870 to '93
1878 to '91April, 1888, to' 91
July 1, 18951879 to '93
1876 & 1892
July 1, 1892May 1. 1892
1892Jan. 1, 1875April 1, 18751874 and 1894
1874-'75 and '94
000,000. Real value, $100,000,0f 0. Hate of taxationfor all city purposes in 1875 is—Eastern District,$2 27 on $1(10; Western District. $2 .33; State tax,45c. The following figures give the assessed proper-ty valuation for tlie past six years. For 1868, $.59,-
425,974; for 1869, $63,284,091; for 1870, $70,806,712;for 1871, $76,845,995; for 1872, $77,156,642; for 1873,$77,225,872. In 1868 the taxation per $100 was $1 98;in 1373 it was $2 55 for tlio Eastern District and$2 47 for the Western District.
Memphis, Tenn.~The city has been in default forInterest since Jan. 1, 1873. Tlie total floating debtJaunary 1, 1870, was $2,074,872, and there werenominal assets (unpaid taxes, Ac ) to balancethis of $1,927,608. In 1874 the policy was adoptedof receiving proposals for the sale of past duecoupons, 80 far as the funds in hand permitted. TheCity Council declared the funding and pavuig bondsissued by .Mayors Lcftwich and Lortand 1807-8-9 tohave been issued illegally, but allowed the coupon-ito be received, pro rata, according to the amountrealized by the city for the bonds: but a decisionof Teun. Supreme Court, December, 1875, wasagainst the citv on this point. Assessed valuation,$32,000,000. Tax rate, $2 per $100. Population i n1870, 40,230. (V. 21, p. 186, 570.)
Milwaukee.—rhe city cannot issue debt beyond 5per cent of lis average assessed value for five years.which is $43,515,000; in 1874 it was $35,1,57,(100 ofreal, and $16,167,8-3 of personal; tax rate, 28>imills. Suikic g funds are provided for all the bonds.Old railroad bonds, $200,000, due 1876 aud 1877(with interest about $400,000), have been held validagainst the city. Population by State census, 1875,101,000. (V. 17, p. 187, 628, 691.)
Mobile.—The valuation of property in 1876 Is
$18,894,825 real (state and $5,377,716 person*!
property; tax rate, IX per cent. Interest hasbeen m default since July, 1878. A settlement withbondholders was offered by Clommissioners in NewYork, Sept., 1875, viz.: $510 in 6 per cent bond for$1,000 of the old 8 per cent. The 5 per cent bondshave a lien on city revenue, and exchange for theseis offered at 75 per cent of their face in the new 6per cents. This has been accepted to a consider-able extent, but no report yet given. Population.about 38,000. (V. VO, p. 308.)
Newark.—The bonds in the first line in the tableare payable out of the sinking fmid of 1869, whichamounts to $:385,368; those in second lino out ofsinking fund of 1864, $8 2,7.57; public school bondsout of public school fund, $89,0.34; Clinton Hillbondsby sinking fund, $22,221, against local improve-ment bonds the city holds $2,5(i,H,e!8J of assessmentsunpaid and a lien on the property. Temporary loanbonds, Jan. 1, 1876. were $767,750. Valuation ofreal estate, 1874, $79,538,2U8; persoual, $24,880,800;tax rate for all jjurposes, 1875, $1 98 per $10u. Pop-ulation m 1870, 105,059.
New Orfedn*.—Interest was in default December,1874, but coupons then due were paid May 15, 1875.In July it was decided to pay half the face ofcoupons on specified issues, on the strength of thefinancial statement then made. (See Y. 21, p. 86.)The total funded debt, July, 1875, was $22.0i2,030:floating debt, $1,286,870. The assessed valuation ofproperty is $98,976,449 real estate, and $20,322,055personal. State tax, UH ndlls; city tax, 2o mills;total tax, 39}^. The lease of city wharves July1875, is considered by many to be advantageons.A scheme for settling the debt by a bond premiumdrawing plan has been started, and first drawingtook place Nov. 3. Popnlatlon In 1870, 191,418;in 1860, 138,670. (V. 21, p. 64, 86, 159,278 511 618.)
March 25, J 876.] CITY SEOUBITIES. zi
.'<ii<Mrrlkeni nrtu coater .^aeat tevor hy kItIsc ImmaAlat* noUc« of mar error dUeovcred In theae Tables.
DESCRfPTfON.
oroxiiliuiatlonssceiioKHoii liratpaBcof tablcs.i
nrh-tiii}i—((!i»)1inneit}—I
;• luliartnilu Uailrowl^^ 11 lorwiirkg loan of l SOU ^.
.
Sovou JHT cent fmidluK loan ot 18B!>.do do 1870
.Ii'trcraoii City (debt assuniod)Wliiirf iinprovuiucnt IjondH-i ;, r iinitroviiiioiit liondHI oriscilidatcd h'old tiouda (ecneml soriosH...!.
do do (draUiaffo sci-leK)...
Ten per eout IkhuIs, deMeir and oiil c.Iaini. . .-
t'lilToUlun faudiii),' and inii>i'oviini«nt boudg.A'dld 1'i»7l—Water stocic
' I iitnii wiitRrV!oekV I r.itoii Ai|iicdnot Htoek ..i
\'l-iiIioiia! new Croton Atinudact.'.Ci-utoii wafer main .stoek..,*^.'jM-.^iw.'^,i.-Oroton Hiu*ep\'(iir bondn ^..(Ii'oton A(jnediiet bondsCi'otoM watel' pipe bomlsCentral I'ai'lc I'untl stoclf
do do('•idral I'ark iinprovoment'ftmd stockDiirkHaud Blips BlockItocl\ bonds... , .,
do do i..J.nnatir Asylnni 8toek..»..-.j;j ,.,j..J'....' 'I- .1.
;;i:i ill stuck
I'll.' i. ir.i-.iph bouds....'^.,».ji'..ij'V.i\ rrli(_-r bomls
do do eoiiponNew Vorli liilil^io bondsAeeuniulated di bt lioinLs(Street iniprovi'iiieii t bonds
,
Hlreet opiininK and lininoviinient bondsVolnnteei- soldiers family aid rund bondsNlnlb distriet (wmi't bonsi' bondsi'onsolidateil st(M'Jv, eonponl>eiiMrIin.'iit of Parks improvement bon(ls...r, n; li i'aik eomiuission bondsA--., .,in,ut bonds('ii.i jiicihs improvement fund stiK'k.Normal seliool fund stocki'ulilie scliool building fniul stoek. .
.'
Adilltiiin:d *?rottin water stoekSewer re[>air stoe.kImprox t-ment Inmtlsi'onsolidated stoekMnsuniii of Alt and Kalnral History stock...I Japiidation of elniins and ,)iiilf;ment»liiipro\ement of Tlurdavcmie—li3d wtu*d...Tlifrd distriet oonrt house bonds...... /..Coimty court house stuck ...i....
do do No. 3 ..I,...do do No. 4<t.5
Soldiers' sn1)s red. bonntj- liondsSoldiers' buiuily fund bondsSoldiers' subs, and relief red. bondsSoldiers l>ount.v fund l>ouds, No. 3Soldiers' bounty fund red. ijonds, No. 2liiot damages nil. lionds i
do indemnity buu<l8 j:
AK«essmeiit fund stoek ^
do doilo dodo do
i lepalis t o Iniildiii^-s st«ckUimsolidated sr<M'k. couponAeenmiilati'd <lel>t l>ond«N. Y. and Wpsteliester Co.lmprovcmentbondsLii|iiiilatioii of claims and jtul^inenta.(lonsitlidaled stockI'or SI n te. sinking,' fmiddutleieucyDilitof Wi^stcUestcr towns unuoxcd
i:onds issued prior to consolidationdo for railroad stock subsidy subscnipt'iisdo fur Ayater yrorksdo furbridias
jS'a N.q.-b\M.& N.M. & N.M. A N.M. & N.M. A N.M. A N.M. A N.M. A N..M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. AN.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.J. AD.M. A N.M. A N.M. A n:M. &N.M. A N.M. & N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. A N.M. & N.M. A N.M.& N.M. A N.M. A N.M. A N.M. A N.M. A N.J. & D.M. &N.
J. A J.
J. A J.J. A J.J. A J.
Where Paynble and byWlioiu.
Now OrleaiiD.dodododododo
New York or London.. do do
New Orleans.du
9
PhUa., Far. A Meoh. N. B'kdo dodo dodo do
Prlnclpol—WhenI>uo.
July 15, 1884Jan. 1, 18MMarch 1, 18MJune 1, I8M1887 to 18ff7I>cc., 1880
Ang. 1, 1811July 1, IWiSJuly 1, 1922April 1, 18811892 A 1901
1879 & 1880Nov. 1,190«1883 to '90
1884Ang. 1, 1900Nov. 1, 19001907 to 19151907 to 1911
188018871808
1876, '87 A '96
1876Nov. 1, 1901 to '5
18781894 <fe 1897
18881889
1889. '92, 9618801889188418791890
Nov. 1, 19061884 to '88
1870, '77, '78, '881879 to '821875 to '76
18901901
Nov. 1,1875 to '791875
Nov. 1,1875 to '79Dec. 28, 1901Nov. 1, 1891Nov. 1, 1891Nov. 1, 1891Nov. 1, 1882Nov. 1, 18751894 to '96
19031876
Nov. 1, 1877Nov. 1, 18901875 to '921884 to '88
1894 to '981875 to '761883 to '901880 to '81
1895 to '971891
1877 to '79188218871903
1876 to '781910
1881 to '881901
1884 to '88189118761896
1877 to '80
1876 to '851876 to 1903
•1876 to 1903
A'ew Tork C%.—The total debt of New YorkI:inuapy 1, 1370, -was $ll4..'',a-2,033; the afnonnt otinkiiii; funds $-27,71S,:J07. Tlio follrtwin;' atuteineiitlirjws the deiullrf of funded debt, and tlie ainonnt
Jl,9:i.'j,021.3i(». By an act of 1H74 the towns of WestFarms, Morrisanm and Kingbridee, Clubracingabout 12.01)0 acres, were annexcQ to New York. Thedebt of these towns was about $1,500,000.
From the termination of the Tweed rer/im^ in1K71 to .Jannary, 1373, the gross increase in debt wastu).3,'i')2.049, and Comptroller Green claims that theold claims existini; wlicti lie took otllce. with thebonds issued to pay defleioncy in State siiiliing fund,and for ui)-towu improveuicuts. aggregate more thanthis wiioie increase. He condemns very stronjily
the law nnder which the Department of PublicWorks makes such lieavy expenditures. All unad-jtisted liaims against the city 4an. 1875, wore nomi-nally $i).971,M9, a latsopart of which the Comp-troller claims to be fraudulent .and has determinedlyoppo-^cd. Tlie outstanding assessment bonds (pay-ai)fe ont of local asscssmiiiits on property benefitted)arc represented by $5,712,739 ndvanees to contractors; $7,.'i31,417 advances on Itoulevard work; andt7,i!0(i,r)(.K) uncollected local nssossments, Oreathostility bus Iteen shown to f'omptroller Crecn oniiccoiinr. of his opposition to claims against the cityand eliiefly on the charge of bis plaeiug many validand re.asoDahb,' claims on the same ground as thosewhich are fraudulent or extravagant. Mayor Wick-ham ol>jects to the present method of authorizingbonds : that the laws are mandatory on the Boardof Kstimato and leave them no discretion. He says:'• Tl.e Common Council Iris n'> control over the pro-roedings required to be talcen iindiT several of tliem.
But some oracer or department of the City Govern-ment is i)y each of tiiem authorized to prosecute ainiblic work of some sort, and to incur obligatiouifor it in the name of the city, and for the payment ol
such obligations city bunds must be IssHcd." Extract
from Mayor's Meseags of January, 1876, U glvsnin V. 2!, p. 63. (V. 80, p. 14, 88; V. *1, p. 8«.)
PhUadelpMa.—Tbe total funded debt, January 1,
1876, was $55,6l'),691; guaranteed debt, $5,.399,4(X);
floating debl, $S,ii9I,4;iJ. Sinking funds, $10,0.30,300.The Comptroller's statement to form a basis fortaxation m 1876, was issued Nov. 1, 1875, makingtotal estimated li.ibilities, $26,296,28*,! 64.
Of tills amount $9,29i),-i02 was estimated to comefrom other sources than taxes, leaving $17,000,080 tobe raised liy taxes, at a rate of $:(0 per $1,000 on full
city property. These estimates, however, wer«materially rednced by the Councils, and the taxrate was kept ai $2 15 for full city property. Thefollowing table exhibits the assessed raluation andtax rate In the city since 1870:
Beal Personal Hate TaxI ear. Estate. Estate. per$),OUO
1870, b74,0',>2, against 566,520 la 18W. (V. 18, p.586.)
:di CITY SBCUBITIES. [March 25, 1;8^SabMsrlbera wUI confer a Bre«t ffcror bf Klring Immediate gotlce of any error dl»ooirer«a tn thege Table..
DE8CREPTI0N.
dododo
*"or explanations see notes on first page of tables.
Pliilmlrlphia—(Continued)—Bonds for park and Centennialdo for war and bounty purposesdo niiinloipal, scliool, sewer, &e
Guaranteed debt, gas loansyuisburyh— . ^ ,
Water extension loan (coupon or reglstcredy .
.
Funded debt and other municipal bondsConiprouiiae railrojul bonds (coup, and reg.)..
Bonds for inipr. Pcuu., ic. (local assessment).
Portland, Ut.— „ ,, , _Loan to Atlantic & St. Lawrence Railroad Co.
do do dodo do dodo Portland & Rochester Railroad
do doBuilding Loan CommissionersPortland & Ogdensburg
Municipal—proper . .......^. I
In aid Atlantic & St. Lawrence Railroad Co i
Loan to Hartford, Providence & FishkiU RRBonds for public ImprovementsKecruitiug and bounty bondsWater loan bonds, gold, coupon and reg
do do doCity Hall & sewer loan b'ds, sterling, cp. or regProv.,& Springfield RB. bonds, guaranteed
Socheeter, N. T.—To Genesee Valley RailroadTo Rochester & State Line and R. N. & P. BR.For various city ImprovementsWater works loan, coupon and registered. .
.
San j'Yaticiseo—Bonds of 1858, coupon (gold)
San Francisco & St. Jose BR., coupon (gold)
Judgment bonds, coupon (gold)
Central Pacific Railroad, coupon (gold)
—
Western Pacific Railroad, do do —School bonds, do do ....
Judgment bonds, do do —School bondsPark improvement bondsHospital bondsHouse of Correction bonds
Savannah^ Ga.—Subscription to Muscogee RailroadConstruction of water worksImprovement of Savannah RiverSavannah, Albany & GuU RaUroadFunding coupons and other purposesRedemption of bonds
do doBonds for city improvementsHarbor, &c., improvementsFor floating indebtedness
St. Joseph, Mo.—Bonds to St. Joseph & Denver City RR., 1869.
do Missouri Valley RailroadBonds for various purposesBridge bonds
81 Louu— .
Renewal and floating debt bondsReal estate, buildings and general purposes..Street improvement bondsWater work bonds (old)
Tower Grove Park bonds (gold)
Sewer bonds .-
Harbor and wharf bondsNew water wojk bonds (gold)
do do doRenewal and sewer bonds (gold)
Renewal purposes, gold or sterling
Renewal and improvement bonds, gold.
Renewal, &c., bonds, gold or sterling, coupon.Bridge approach bonds (gold)
SI. Louis OouhIu—Renewal bonds, couimnBonds to railroads, couponInsane AsylumCoimty JailGeneral pui^poses, goldRenewal, goldPark bonds, couiion, goldCounty bonds
St. Paul, Minn.—Revenue bondsPreferred bonds8 per cent bondsLake Superior & Mississippi Railroad. .
1876 to 19061879 to '861880 to '83Aug., 18781876 to '89
1877 to '88June, 1887, to '(
April 1, 18921891 to '93Nov. 1, 1893May 1, 1895July 1, 1894Dec. 10, 1892
1876 to 18811878 to 1880July 1, 1887Sept. 1, 1888June, 18921893 to 1895April 1,1905May 1, 1895
1874 to '901874 to '86
1889, '90, '961888 & '98
1900
PUtsburgh.—The total debt Feb. 1, 1875, was $13,-
533,819, Includiug water loan and bonds, chargeableon local assessments. Cash valuation in 1874 ; Realproperly, $170,415,923; per'onal, only $2,388,216,according to Comptrol'cv'rt report. Sinking funds,$553,908. Popnlatlon iibout 140,000,
Portland, 3/«.—The sinking fiuid March 31. 1875,
was $500,469. The city is protected by mortgageson At. & St. Lawr. and on Portland & Roches-ter Railroads, and holds 7,143 shares of Portland &Ogdensbnrgh stock. Assessed value of real estate
in 1873. was $17,775,300; personal, $1-2,0.|5,712. Ta-t
rate, $35 per $1,000. Popnlatlon in 1870, 31,413,
aeainst 26,311 in 1860.
Providence, li.I.—The principal debt of Providencehail been crealed since 1872 for water works. 'I'he
floating debt at close of fiscal year September 30,
1875, was $2,020,796, and funded debt, $6,797,250.
]'hc assessed valuation of all property in 1875 was$122,024,100 against $123,682,800 in 1874. Rate of tax,
$14 50 per $1,000. The sinkuig fund for bonds dne
in 1885, $410,674; sinking funds of 1893, $149,972;H. P. & F. Railroad bonds held, $.500,000. Popula-tion by U. 8. census, 1870, 68,901; by State census,1875, 100,800.
Hockesier.—The bonds of G. V. RR. loan reissue$178,000, are provided for by net receipts from alease of said road to Erie RR. Co. after paying theInterest out of said receipts. Valuation of propertyabout $82,000,000. Rate of tax, $1 3.1.
San Francisco.—Fopalntion by the U. S. censusof 1870 was 149,482, against 156,802 in 1860. Realestate in the fiscal year ending June 80, I87B, wa-assessed at $164,466,177; personal property at $101,-763,267; sinking funds raised annually amount to$S34,500. Tax rate, $1 45 per $100 for city andcounty, and .84 9-10 for State purposes. Total,2.09 9- 10. All the values for San Francisco are givenin gold.
Savannah, Ga.—To provide for floating debt andmaturing liabilities in 1873 and 1874 *4O0,0OO bondswere issued and sold in Savannah, realizing $324,730,
and leaving only about $1.36,977 of floating debtDec. S) . 1874. The city owns real estate and otherproperty valued nominally at about $4,237,600.Assessed value of real estate, $14,000,000. Popula-tion in 1870, 28,235, against 22,292 in I860.
St. Joseph, .Jfo.—Poptilation in 1870 was 19,.5C5,against 8,939 in 1880. Assessed valuation of property.$11,000,000; rate of tax, -23 mills.
St. iouls.—Population by the U. S. census in 1870was 310,884, against 160,773 in 1860. The city andcounty governments and finances are separate.Total funded debt, Oct. 11, 1875, $16,270,000. Float-ing debt—$622,000 due Gas Light Co; $;100,000 Trea-sury warrants; and $105,000 due sinking fund. As-sessed valuation of all city property, 1874, $164,394,-010; tax rate is 2 per cent. (V. 18, p. 143,)
St. Paul, Afinre.—Population in 1S70 was 20.030;in 1875, by State census, .33,237. Assessed valuationof taxable property, $13,liM,885, or about one-fifthof the actual value; tax rate, 14 mills. (Vol. 15.p. 626.)
'
March 25, 1876,] RAILROAD STOCKS AND BONDS. xiii
Subsorlbera will oonter (reat niror hf clvlns lakmedlate notlea of Kiijr error dl«eaT«r«« la (heM Tables.
DESCRIPTION.
For explanation ot column headlnga, dec, see noteson Itnt page or tables.
Milesof
Uoad.
Dateof
Bonds
Size, orPar
Value.
AmountOutstanding
INTEKE8T OR DIVIDENDS.Rate port When Where Payable, and byCent. Payable whom.
Botuf*—Prtnolipal. When Dae.Ma«*«-LaatDividend.
1 labama Cc«/r«;—(Seliua cSt Merid.)—Ist niort.1 liiliiiiiin <t ahntt.—lnt. iiiort., Rold, (fiiar. by Ala..•_M riKiit.. ijiO.CKK) per mile, not RuurantcedKcirlvtir'H tiomis or eertitl(^iitcs
-1 thunjf tfi Susquehanna—Stock1 Mi iiiort jja^eA I liiiiiy < i ly locmlid iiii)i-t>;it^e
do do do land grantIncome bonds for fundingIOi|iiiitiiient bondsIntc'i'cst sirip (exchangeable for bonds)riaiii bonds, scrip exchangedLand debentures
Alliiiitic lO SI. tfUPz-cHce—Stock, currencystock, sterlingrorlland city lionds, 1st mort., sinking fun(l2il mortgage, sterling, 5-20 years:id do do (tosterling bond.(t. not mortgages
A iiffuttlii ,f- .SVir«HH«A—StockBahl Eiitjlr Vn/Zci/— 1st mort., s. f.($5,000per year!Jd morlgage (.$5,000 i)er year)
8 J. A J. N. Y., First Nat. Bank7 J. A J. do do8 J. A J. do do8 J. A J. do do6 J. A J. do do6 J. A J. do do
J. A J. do do8 J. A J. do do8 J. A J. Lynchburg OBic«.
N. Y., First Nat. Bank8 J. A J,
J. A J.6g. N. Y., Office of Comp'njOg. J. A J. do do6g. M. A N. do do6 K. M. A N. do do6g. In 1901 do do6g. J. A D. do do
10 J. A D. do do6 g. J. A J.6g. J. A D. do do
10 Q-J. N. Y., Office of Comp'ny3 F. A A. Portland.3 g. M. A S. r.rf>ndon. tJr. Trunk Rw.6 M. AN. Portland.6 g- A. A 0.fi g. M. A N. do do« K. M. A N. do do31, J. A D. Savannah.6 J. A J. Phila., Farm. A M. Bank7 J. A J. do do
U<Aama Central.—In default since January, 1872.Xe;;otiations pending for a new adjustment.
.llahami <t Chattanooga,—Komi sold May 3, 1S75,for tl,MO,000. subject to Hen of receiver's certifl-
cales. Time for bondholders to accep^ extended toJane 15. I87B. (V. SI. p. 38, 68, i5.% 302, 323,511; V.22, p. 61, 8:, 135, 157.)
Albany it Susiiwhantui,—This road is leased for150 years from 1870 to Delaware A Hudson CanalCo., at 7 per cent per annum, on stock and bonds-lessee assuming the payment on both.
AUeghany VaUfy.—TYi\» road was cmbarra'sed in1874, and compromised with creditors. Abstract ofopenilions In 1874 in annual report, V. 81, p. 37.V. 19, p. 15, 117, S46, 582.)
Alejumdria & Fredricksbura.—The l*ennsylvaniaitailnwd holds $512,000 of the bonds and controlsthe road. Lo* on operation in 1873, $85,074.
Arkansas Central. - Most of the bonds wore sold inLondon, where JSOO.Oil'i of 2d mortgage bonds werealso hypothecated. (V. 19, p. 365.)
AthtahiUa. Yo'ingslmon tt Pitls.—ll is leased andoperated by Pennsylvania Co. at cost. Net earningspaid to lessor, but lessee guarantees interest onlet mortgage for five years. Common stock,tI,JS0O,00O; preferred, $500,000. Annual report V.JO, p. 4»«.
Atehiton <t A>4r<i;*(i.— Interest was in defanltSeptember, 1873, and coupons funded. Gross earn-ings, 1874, $ A3,2(«; net, $82,880; unpaid coupons,$450,000. Ai.nual report V. 80, j). -J03.
AtchiMn. Topeka * Santa /<!.—Interest is paid on$976,1100 of the 2d consol. mor'ga.'e bonds, but onthe balance of that issue the coupons are funded toOct. 1, 1816. (V. 20, p. ifti :»{ 5,5. V. 81, p 63»»6,9J^591;V.a2,p.a82.) ' '"P*^>
Atlanta <# SichmonJAir i«n«.—Defaulted in 1873,and now in litii^ation. A decree of sale In fore-closure was made October, 1875. Report of earn-ings, Ac., V. 22, p. \3-\ (V. 20, p. 14, 85; V. 21, p.14, 85, 883, 418, 488, 618.)
Atlanta e6 West n>lni.—The road has paid 8 percent dividends for some years; it has about $200,000of bonds.
Atlantic it Great Western.—This road was leasedto the Erie for 99 years from May 1, 1874, but thelease did not go into effect. Shortly after (in
July, 1874) default was made on its bonds. Thelast annual report, to October 1, 1874, will befound in V. 19, p. 637. Procecdmgs looking tore-organizntion are in progress, and a const(lcrableamount of securities has neen deposited by hold-CIS with the London Committee. (V. 20, p. 85. 139,:tfl9, 499, 592; V. 81, p. 136, 159, 830, 393, 410; V. 88,
p. 181.)
Atlantic <ft Guif.-OiosB earnings in 1874 were$1,038,856; net earnings, ta86.6.3ii. The C m-pany alsj has $500,000 10 per cent coupon notesoutstand ng. Annual report in V. 21, p. i75, alsop. 488.
Atlantic, HUsUAppi <t Ohio. — Of the stock$5,845,700 is common, $800,000 preferred, and $276.-200 guaranteed; the company, itself, holds$3,441, -.KIO of the common, all the preferred,and $165,700 of the gnaranteed stock. Gross earn-ings year ending September 30, 1875. $1,789,468;expenses, $1,108,947; net earnings, $673,505. Therewas a decrease of gross revenue by $48,890,and a decrease of net revenue of $54,114. Of the$15,000,000 loan enough is hold to retire all theold debt. The company funded one coupon onold bonds. Jan., 1874, but paid subsequent couponsin part. Funding notes due 1875 and 187^ wereissued. In October, 1875, in London, the company
\
made a proposal to fund whole coapon then due, I
on consol. bonds, and four-sevenths of. coupons dueup to 1881, paying three per cent cash on couponstill 1881, and balance, if earned. This proposition is
still before the bondholders for their assent. Abill to foreclose the consolidated mortgage wos filed
by the trustees thereof, at Richmond, \'a., March,1876. Extract from President Mahono's circular tobondholders, showing the financial condition, is
given in the Chronicle. V. 22, p. 280. (V. 20, p.
380; V.21, p. 569, 591; V. 22, p. 110, 831,280.)
AtlarUic <ft Pae^Ac—ThXa was a consolidation, iaOct., 1870, of the Atlantic & Pacific and So. Pacific.
The land grant amounts to some 1.000,000 acres.Interest was passed ,Iaii..'74, on tlic land grant bonds,the 2d mortpa.gc and the interest scrip, but couponsfunded. .\ break in the company's affiiirs occurredin October, 187.^; the Missouri Pacific lease was snr-cndered and complicated litigation against theAtlantic & Pacific Company, omnienced on theground of fraud in the Missouri Pacific manage-ment. Receivers were appointed. Interest ofJanuary, 1876. on land grant bonds was not paid,and interest on the 3d mortgage bonds of theMissouri Pacific is also unpaid. The latter weremostly held by the Atlantic & Pacific Companyfor improvements claimed to have been put on theMissouri Pacific road. (V. 19, p. 39;; V. SO, p. 888;V. 21, p. 0, 418, 440, 466; V. 28, p. 61.)
Atlantic db St. Lawnnce.—Leaned for 999 years,from July, 1853, to Grand Trunk Railway ofCanada. Annual rent, 6 per cent on bonds andstock.
Auf/Mta (ft SartmmiA.—Leased to Central of Geor-gia for $73,000 per annum ; has surplus fund of
about $50,000.
Said Eagle VaOey.—Lthfed to Pennsylrtnla Rail-
road at 40 per cent of gross receipts. The Pennsyl-vania Railroad hold* all the Id mortgaK* bonds.
xiv RAILROAD STOCKS AND BONDS. [March 25, 187i
Sabficrlb«rs wUl confer a creat favor by elvlug Immediate notice of any error dlocovered In tbese Tablea,
mJ
DESCRIPTION.
For explanation of coliumi beiuliuKi, &o., see noteson tirst page of tables.
ItxUlmor* dS Ohio—BlockPreferred stock
do 2(1 xericsWnHbiiiKton braucbLoan, 1850loan, lR'>:t
do lH70,8terlliiK, £800,000Baltimore loan, 1855-'908bort notes, sterlingSterling mortgage
flo do sluklutt fundNortbwcatern VirRiuia, 3d mortKaRC, 1855-85
The gross earnings of the main and all leased linesin 1874-75 were $14,426,552, and net earnings,84,490,098. The company claims a surplus of$34,023,.V)6, in the value of its assets above itsslock «nd debt, which 8urj)lus is representedchiefly by securities of branch lines, receivedfor advances made by the B. A O. In Dec, 1875,theopeniting contract with Piltsburgh & Conuells-ville roiid w,is ratillud, by which B, A O. guaiaiilecsJ10,000,0(l01)ond?. See report in OnuoNicLE, V. 21p. 48 7 ; V. 80, p. 183, 381, 404, 453, itS; V. 21, p. 371511,591.
.1 "•
Baltimore * Poiomac.~Th\s is the line of thePennsylvania Railroad from Baltimore to Washing-ton. The bonds arc guaranteed by Penn. RR, andNorthern Central. Lust auuiial report V. 21, p, 37.BellecilU & SotU/ternIUinois.—LCiA»e(l and operated
by St. L. Alt. * T. 11, Co. on a percentage of grossearnings. Gross earnings, '74, 8S'/3,an, (V.20, p,380.)
Belridere Dehiwaie.—fHock is 8995,700. Leased toUnited Co,'8 of N,J., and lease as.signed to Penn. RRNeteamiiigs go to lessen-. In 1875 net earnings of BD. were S-*i0,4il4, against t4i«,3ti" in 1874. Floatinirdebt, »1,245,39J. (V. 80, p. 488.)
Berkshire.—Leased to Housatouic, at 7 per centper year on stock.
Boston <e Albani/.—'Fhe Boston & Albany Is themain western truiik line of New England. In iiastthree yeara the following has been its eihlbit:
GrossEarnings.
1S74 5 $7.1.31,139
18T:i 4 .... l<,<«B,l-'8
K7i:i .... 9,798,0.13
Not Total StockEarnings. and Debt.$2,-«3,147 $-J8,478,28-2
2,411,916 25,4-.>2.100
2,-i3'i,S73 24.18:1.100
$.%000,000 new bonds wore auChorizcd in Feb., 1875(V. 10, ;>. 14. 162, 59i; V. 21, |), 4«4.)
Boston, Clirdon <S: tlldih'irf/.—Tht: :fUick onUtaud-ing is |;,M72.fi00. Net eaniiiiirs ffir the vear eudini:September, 1875, *401 -202; a dividend of 3 jier centpaid on pref. stock Jan., li;76. (V. 21, p. 6t, 5!U.)Boston, Concord <!: Montreal.—Orofs earnings for
the year ending with Mnrch, 1875, were $6ti4,194;
net earnincrs, $140,208. Tliere arc also $76,000 oldbonds due in 1865. (V. 20, p. 520.)
Boitoii tt Lowell.—Opcmlci\ with the Nashua &Lowell, which receives 31 per cent. (V. 20, p. 65;V. 22, p. 43 )
Tlo-^fon (t Maine.—N((t incoiae. 1874-5. over interestpaynu'iils, :5tHfT,97'. Pools trarniugs froiyconipetingpoints with Eastern. (V. 20, p. 1-1, 614: V. 21. 11.
o33; V. 22, p. 880.)Boston c6 N. Y. Air Z,in«.—Fo.nicrly N. Haven
Middletown A Wil. Road cost about SH.OW.HO',
reproscnled now by 83,000,000 pref. stock and Sl,-000,000 commcm,Boston A rioi>idence.—T\u: bonds and al»o $U-!4,f«in
notes have been issued for purclcise of branchroads. Total income, 1874-5, 81,581,3.58; net, overeperating expenses, S44r,-i:j6. (V. 21, p, 5tjO.)
Buffalo, Bradford * Pitlsbtmjh—\}\\&sx perpetualleas() to Eiie at $40,610 per year.
Bnfn/o. Xeie York ik Eri".—Leased to Erie in186:1, for 490 years, at 7perceut on stock and i merestand sinking fund on bonds. In 187:4 Erie boui^ht$50O,e00 of the stock at $150 per share. (V.20,i> 61,614,)
Buffalo. Xeio York <t P/iilndt/iilii'i.—Tlus is iliu
connecting line of the Philadelphia A Erie withBuffalo. In 1874 the net earnings were $18«,813.
Btiriinglon, Cerhtr Rnphls & Minnesota.—1» 1874default was mudc .i* Interest. A decree of sale in
foreclosure was made November, 1875. (V. 8(
p. 23i, 530, 51.5. 670; V. 21, p. 85, 277. 591,)
Burlington ift Missouri Hirer.—An n'_Teemcnconsolidalion and a jicrpetnal lease to Cliicago, I
A Quincy, was made in Oct., lira. In Aic^'ust, 1
stock of Chic. Burl. A tj, was issued in 1>1 ice
stock of lhi.s Co. and for convertible boml-. .\ui
report V. 30, p, 33 5. ( V. 2 1, p. 1:19; V. ---', p. 81
Builington ifc Mistouri in y<:Oi'a,^ka —Tlu' stoc
$8,58:5,750. A report of company's operations. .
to Jan. 1, 1875, lia= not been pu'ilishcJ, buthave the net earnbnrs in 1874 as $115,940. The I
graut has proved very vahniblc, and total >!ilc
Jan. 1, 1875, amounted to $6,312,954; in l^M s
were $2.16»,8.1J. (,Y. -JO, p. ^9, 593.)
Bi/rlln(ilon £ South K'cx('«-n.—Defanlted Nov., 1
Forcclosin-e in progress, (V. 2I,j(. 159, 111.
1
Cairo <6 St. /,o//i/<.—DefauU( d ui 1873 l>.v fai
to receive town and conniybonds. No fined"\et. Road completed February, 1^75. (V.
'
iiOtl. 813; V. 21, p, 81, 411.)
VaiivS Fi/'c«in<i'.— Dufaiilled in 1871 '" '
of receiver. (V. 20, p. 499; V. 21, p. 6:3, 1
VaUt'ornia Padflc. Extension bouds «.
and incomes of |;l,0;:il.U0U havi! bcen.in 1
anroposal olftTcd by Central Pacific. (V.21. pAlso V. 20, p. 'o.ti: V i'., p. 1.50, 277; V, 22, p280.)
Camden <6 Atlantic—^et earnings, 187". J ;).
Camden <(; Biirtlniiton. Co.— Leased 11 Li
Companies, at 6 per C(jnt ini 8382,000 stock.
Canada .6'op/Wi^m.—DefaiiUcd Jannary, is;4,
coupons funded, but interest not pai i -f ly,
In January, .1876, supposed to have pas-t .^
Central coidrol. (V. 2i, p. 159; V. 22, p.
-Foruii'rlv Wilmiiii.; .
Passed interest Jaun.Caroluin ('<:it!r'd.
lotte A Riitlierfard.
I.V. -Jrt. p, I.n.)
C'a/aK'i*".!.—Leased to Pbiln. & Read., OcNew preferred stock dividend to bo 4 2-3 in
ami 7 in 1875-6 and afterwa (1. Sec terms491; also, V. 10, p. .'^17; V, 18, p. :i6< ; V. SO, p;
ly,
March 25, 1876.] RAILROAD STOCKS AND BONDS. Z7
Biibucrlbers will confer a Kreat favor br tflvins Immediate notloe ot any error diacoverod In these Table*.
DESCUIPTION.
For expluiintlou of column Jioadlugg, i&c., see noteson lli'st piif^e of tables.
Oaijui/a— 1 «t inortKaKo, Kf'l'l
Cayuifft it SuKf/nfihannft—StodkC'erldr Falls it Jfinn.—Hdudson Istrtiv. sink. fund..Rnnds on 2(1 divlHion, nlukiuf; fund
Cellar llapiih it Minsouri—Cummun stockI'lvfiiTed stock, 7 per centIst mortgage
dodo
Central R. K. <* Bntik, ffo.—Stock^CMi* ttf n. Jt. ur jM.fw*-. »rw.—E7i<wn(Ji'iionil mortgage Ooiiit) bonds ($5,000,000) coup,Mat'oii & WcHtcni nondsItondH for Kt<-a>iiHhlpH
Central of /(>(/*«— I st mortgage gold, coupon...'2t\ mortgage, golrt,i)'4r0(>0 per mtlo
Central of S'ew Jersey—BtovkMortgage bondsBonds (convertible Nov., 1H7.5 to 1877)Consolidated mortgage (for $2,5,000,000)Newark A New York, 1 st mortgageLohlgli <t Wllkesbarro Coal Co., 1st luort. guar
do do Cousol m., coup. guar.Am. Dock cfe Fmp.Co., 1st mort., guar. Cfent.of N..!.
Central O/ii'o—Common stockPreferred stock1st mortgage bonils
Central Y'dft/jc—Stock1st mort., golil, (sinking fund. $.50,000 per year).Subordinate Hen, Calirorriia .Slate aid, goldBonds, (formerly eonverlilile into IF. H. ixuids)1st mortgage on San .loai|uin Valley Braucb, goldU.S. Loan, (2d lien on certain terms)Western I'acitlc, 1st mortgiige, gold
- do (ioverumcnt HenCal. ife Oregon, Ist mortgage, gold (guar by C.P.).C. P., Ist mort.. on C. & O. Br. ($7,2(H),000 g.) . .
.
Ban Francisco O. & A., 1st mortgage ($1,500,000)Land bonds on 11,722,100 acres
Ghnrtolle Columbia it A ui/iista—lat m. (C. & A.).
.
do consolidittcd2d Mortgage for $1,000,000
Chartiers—Ist mortgageCherrjiValleySluir.it Al.—lit mort., convert...Chesapeahe it Oh io—stock1st mortgage sinking fund gold1st mort. exteii. (2d on 427 miles) coup, or rcgoDebcntiu-es oonvortlblc Into 2d mortgage1st mortgage, (Va. Cent. K. It.,) giuirantced by Va.3d mortgage, do. do. couponIncome mortgage, (Virginia Central R. R.,) coup.Funded interest, coupon bondsIncome lionds (for funding) . •
Ohesh ire—Stock, preferred..ABonds, not mortgage .•
Chester Wtlleif—1 sfc mortgageChleago if; A (ton—Common stockPreferred sfek (pref. 7 p. c. y'rly not cumulatiTe)(leneral mortgage, sterling, for $8,000,0001st mortgageIncome bonds (a 1 st lien on Income)Jollet & Cliicago, 7 per cent, stock
do do 1st mortgage, sinking fundSt. Louis Jack. & Ch., 1st mortgage
do do Ist mort. assum. by C. & A.do do 2d mort. assum. by C. & A.do do 2d mortgage
Louisiana A Missouri, 1st mortgageChicago A 111. Kiv., 1st mortgage, guaranteed
Ohiciiijo^ Burlington it i^aineif—.Stock :
1st mortgage, sinking fund, (trust)Consolidated mortgage co\ipou, (for .$30,000,000)Northern ('ros.i It. R. 2d. mortgage, goldTrust mortgage (Burlington to Peoria)Plain lionds (coupon or registered)Bonds of 1S75, (sinking fimd $13,8(iO i>er year)..Carthage & Burlington, Ist mort i
Dixon Peoria & Hannibal, 1st m. I Coup, but mayAmerican Central, 1st mortgage ( be registered.Peoria & Hannibal, 1st mort J
Cellar FWs <fc Jfin«ft«o/a.—Incased to Dubuque &Sioux City, and sublet to Illinois Central at $I,r)00
Ser mile yearly, and a per cent of all earnings over.1,500 per mile.
Cedar fiaplds tfc .If/doourt.—Leased to Chicago &Northwestern at f"00 of first $1,500 gross earningsper mile; one-third of the next $3,000 per mile, andonc-flfth of all above that. (V. 2 ', p. 162.)
Central llailroail & Bank, Ga.—Leases severalroads, and guarantees $1.4!I-2,5(KI of bonds. InApril, 1S7.5, purchased onc-lialf interest in WestcniItuiiroad of Alabama at foreclosure sale. Grossearnings year ending Sept I, 1S7.5, (8,8-6,536; net,«l,i»9,»51. (V. 18, p. 374; V. 80, p. «39, 335, 398;V. 21,p, 3«, 41T.)
Central of /»wo.—Decree of sale in foreclosuremade Oclober, 1875. (V. SO, p. 15, 85, 435, 548; V.21, p. 85, 3ii3, 411, 4S.'), 511; V: 'ii, p. 110.)
Central of New 7er««.~The annual report for1874 was given in Vol. SO, p. 861, showinggross o;imini;s of $8,.589,(i30; net, $4,41fl,089. Ofthe consoihlnted mortgage sufticicnt will be heldto pay all the prior issues. This companv alsoassumes $2,310,(10(1 of Lehigh Coal A NavtgationCompanys debt and $330,723 of the Itailroad CarTrust Companv. In five years the gross eamincshave increased from $4,010,121 to $S,.589.()3I, whilethe net earnings have risen from $1,,367,958 to$4,41!»,029. The change niiide in flvo vears in theinvestments of Uie Com|>auy are as follows:<'upital stoek, increase $.5,000,000Bonded debt, increase 12,607,900Bonds of ether (companies assumed 3,210,723Undivided proflte expended 1,127,879
$21,9T8,5CS
This inciease in stock, bonds and liabilities is re-
pre.sented i>y the following increase in assets;
Railroad $3,800,871Kxpenditures at .lersi^y City 35.5,805
Port Johnston Coil Station 1"6,221
Station houses, shops, etc 11.3,400
New equipment 4,445,29,S
Leliigli and Wilkesbarre Coal Co. stock. . . 5,780,1.38
Lcliigh and Wilkcsliarre Coal Co. bonds. . . 4,.500,000
Accounts receivable—increase, less ac-counts payable 1,842,086
Total $21,976,503(V. 19, p. 846; V. 20, p. 80, 264; V. 21, p. 253.)
Central OAio.—Leased to Bait. A Ohio RR. in 18»i«
for 2 1 years, rent 35 per cent of gross receipts for 5years, and 40 after. Pays 6 per cent dividends.
Central Padfie.—Oritn^ earnings i-i 1874 were $14,-
531 ,355 (currency), and net earnings $S, 682.378. Landgrant statement. V. Il, p. 130. An alistract of theannual report for 1874 is uiven in the Chronicle.V^ 21, p 25 I , andT!aniincs and expenses later, toJuly, 1875, on p. S42. showing net earning" for six
montiis of $1,229. 7J'3 in mixed coin and currency.Regular dividends of 8 per cent a year now to bedeclared. A settlement with bondholders of Cali-fornia Pacific has been proposed, by which the Cen-tral Pacific guarantees certain new bonds to alimited unionnt (V. 20, p. 8, 37, 42, 178, 181;; V. 21,
p. 159, 488; V. 22. p. lil, 233.)
Charlotte, Coliimiia A .dtjflwfo—Stock 1« $2,578,-
000. Net oaraings in the year eliding September .30,
1875, $250,0y4, against $22."), 73') the previoss year.Increase in locjil business, 19 per ceat. (V. 31, p.590; V. 22, p. 134.)
*A«ry«™.—liCased to Pitts. CIn. A St. Louis, andoperated bv Penn. Co. Net earnings go to lessor.
(V. », p. 427.)
Cherry Vallev, Shar. <C .4/.—Transferred to Dela.ware & Ilndson C^anal Co., April, 1875. Interestunpaid in December, 1875. (V. 80, p. 404.)
Chesapeake A Ohio.—After the panic, defaultwas made on interest. Net earnings in 1874 73.
$;}46,8(>S. Ucceiver appointed October, 1875. andforeclosure proceedinirs will probably be had fortile purpose of re-organization. A very completestatement of outstanding liabilities and the plan otre-organization are given In V. 21, p. 509. (See V.20. p. 162, 1*4, 3.57; V. SI. p. 323, 371, 417, 411, t34,
5(i9,;612; V. 22, p. 42, 87, 13 J, 280.)
Cheshire.—Set income, 1874-:.5. $76,987. Divi-
dends, 4 per year. (V. 18, p. S95; V. 21, p. 59 1'.)
Chester Valley.—ln hands of trostoes and leased
to Philadelphia A Reading.
Chicaero <6 AUm.—The report for 1875 Is given at
Icnstli in V. 22, p. 2.55, and shows groes earnings of
$4,1.56,76.3, and net eaniings of $i.0B8,fi 8. against$2,.3.38,&76in 1874. Joliet A Chicago RR> is leased for
interest on stock and bonds. St. L, Jack. & Chic.Railroad leased at $240,000 per year. Louisiana AMo. RR. built and operated nnder contract. (Sec V.
19. p. 4';9; V. 20, p. 189.) The Chicago A Illinois
River bonds had not been sold to .laniiary. 1876,
and there was some litigation. (V. 18. p. 3.50; V. 19,
p. 16, 479; V. 80, p. 176, 265, 369, 500; V. 21, p. 185,
612; V. 82, p. 2.56.)
Chicago, Burlington <ft guincy.—Stock was issued
In exchange for that of the Burl. Mo. River in Sept.,
1875. Gmss earnings for 18i5«ere $11,791,301: ex-
penses, $n.430,122; net earnings, $.5.3«I.23.H; interest
charge. $2,01 1,7(i9. Tlio C. B. A Q. lease! niim«roiis
bra«<;h roads, giving ihem a trafiic gnaranlee insuaily
40 or 50 p. ct.) for purchasing their bonds. Knoughof the consolidated nioitgage is reserved to take upprior debts. In August, 1875. stock of this
Company was issued in exchange for Burlington AMissouri' River Railroad stock, and the same is alfr
mven tor the convertible Iwnds of Burlington AMissouri River Psilroad. (V. 2-1, p. 1.5, T, 60, 18*
335,499: V. 22, p. 231)
xn RAILROAD STOCKS AND BONDS. [March 25, 1876.
Sabacrlben will confer a creat ntvor bj civlmK Immediate noUee or amy error discovered In ttfeae Table*.
DESCRIPTION.
For exploBatlon of cohiinn headings, &c., sec noteson first page of tublcs.
Milesof
Koad,
Dateof
Bonds
Slzp, orPar
Value.
INTEREST OR DIVIDENDS.
Oiitatandinir^aW per Wbcn Wlicro Payable, and bJ^uutstanamg pg„j payable Wliolu
Bo»irf«—Prlnclpal, when Doe.Siockg—ljmiDividend.
Us
S a
As
Chicago^ Bnriinglon rf Quincy—(Conlimiedi—Oltiiwa, Oswego & Fox Klv., 1st m. . l f.„,„,,,„Illinois Orand Trunk, Ist mort I ,„,. ,1,'i.l i.«Quin.y & Warsaw, ] st mortgage .... "'^"te?edKeokuk * St. Paul, 1st mortgage. ... J
'<'»n'''e™"'
Albia Knoxville & Des Moines, 1st mortgageChicago <£ Canada ffmtthem—lBt mort., goldChicago, Cincinnati d: ljoni«HUe~\9ii mortChic.t Clin, rf />»//>.— Ist mort., coup,, regis'bleChic. Ilanr, it Vin.—1st mort., gold, sink'g fdIndiana exten., Ist mort., gold ('Jdniort on 114m)
Chicago, Ihtbuqnctt Minnc^ta— 1st tnortChicago d: Iowa—1st mort., roup., may be rogChicago, Iowa rf Nebraska—Stoek2d mortgage (now Ist)3d do (now2d)
OMc, <e Mich, L, Shore—iKt mort f Coupon,1st mortgage I butIst mortgage I may beiHt mortgage, on branch I registered.
Chicago, Milwaukee it SI. Pant- Com. stockPreferred st'ck (7 p. c. v'rly, not I'lnnnlative)fonROlidatcd mortgage (for $35,000,000)...,1 St mortgage2d mortgage1 St mort gage (Iowa & Minnesota)1st mortgage (Minnesota Central)1st mortgage (lowa& Dakota)1st mortgage (Prairie du Chion)2d mortgage (Prairie du Chien)Milwaukee A: WesternSt. Paul * Chie. Ist mort., f & £ (conv.)....1st mortgage, Hastings <fe Dakotal«t mortgage, Chicago «& Mil. lineEquip. & bridge bonds (may be paid in 1878)Western Union, Ist mortgage ^ ,
Ghicago i£ Norlhweslcrn—Cxnnmon stockPreferred st'ck (7 p. c.y'rly, not cumulative)Bonds, pref. (sink'g fund), 1st mort., Chic, to Osh.Interest bonds, funded coup., 2d m., t;hic, to Osh.1st mort.. general, 3d mort.. Chic, to OshkoshAppleton <\\ten., 1st UH>rt. on 23 miles and land..Green Bay exten., Ist mort. on 26 miles and land1st mort., (lalena & Cliicigo Uu. RK. extended..Mississippi River Bridge b*ds, lien (m net earningsElgin & State Line Railroa<l boiuls1st mort. (Peninsular KU.) on roads jind hands...l8l mortgage (Beloit <fe Madison Railroad)C(msol. sink'g f'd M., (all above convert. Into this)Madistm extension, Ist mort.. sinking fund, gold.Chicago & Milwaukee, Ist mortgage, 2d HenMenominee extension, Ist mortgage, gitldGen, cons, mort., gold, eonp. or reg. ($-18,000,000)Winona &, St. Peter, 1st mort., guar by Chie.&NW.
do 2d mort., do dodo 1st M. exten, gid, Land gr., s. f
.
I-a Crosse, Trenip. A P. 1st nn>rt,, guar. C A- N.W.Iowa. Midland, 1st mort., guar, by Chic. & N. W..Northwestern Union, 1st mortgage, gold
Chicago rf Padttcah—1st mort^gageChicago, I'ekin rf Southwestern—ist mortgage ..
2d mortgageChicago, Ituck Island tt- Pffl«rtc—Stock1st mortgage, sinking fundBranch bonds (sinking fund $40,000 from 1877 ).
Chic. & S'we,stern, Ist wort., gold (guar in cur) . .
.
CTilc. & S'western, Ist mort., gold, not guarCincinnati, Hamilton rf- Dayton—Stock1st mortgage of 18532d do 18653d do 1867Consol. mortgage (for $3,000,iKI0)Cin. Ham. ,\- I. (.Tunction) RR.. Ist mort., guar. .
Chicago, Clinton ik Dubuque.—This road defaultedin IST^. It was bnilt by^conetrnction companies inwhich directors of C. B. A Q. were stockholders.(V. 20, p. 85, 1^4; V. SI, p. 14, 613 )
Chicago, Danville tfe Vincfnnes.-~T\\erc is also a2d mortgage for $1,000,000 and a chattel mortgageof $1,000,000, most of which arc pledged. Defaidtwas made In 1873, and coupons partly fnnded, enh-sequently receiver appointed, and litigation in prog-ress. (V. ao, p. 1.5, 43, 60, 241, 266, 28H, .313. 357, •i»-i,
404, 453, 499, 570; V. 21, p. 157, 185, 347; V. 82, p. 87.)
Chicago, Dubuque <Sc Minnesota.—DelmMei De-cember, 1873, same as Chicago CImton & Dubuque.(V. 20, p. S>, 13'J, 184; V. 21, p. 14.)
Chicago A loiva.—Wm a traffic guarantee of Chic,Bnrlington & Quincy 40 per cent for purchase ofbonds. (V. 22, p. 87.)
Chicago, Iowa <* JV«ft?(Mio.—Leased in perpetiutyto Chicago A Northwestern, at 37X per cent ofgross receipts.
Chicago tfc Michigan Lake Shore.~Thc first mort-gages, main line, have trafllc agreement from Michi-gan Central. In default for lnte^e^t since July, lb73,except on first bonds $477,000. (V. 17, p. 188, 211 ; V.18, p. 14; V. 19, p. 847; V. 20, p. 60, 31*,)
Chicago. Milwaukee tt St. PauL—Tbe followingis a comparison for three years:
The Issue of consol. bonds of 1875 was made to sub-stitnte for that of 1874 ; of these bonds $27,339,000 arereserved to take up old debt. The'dividend on pre-
ferred stock March, 1874, was paid In consol. bonds,and the same April, 1876. See statement V.22, p. 280.The sterling bonds of 1872 are convertible into dollargold bonds of $1,000 each. Dividends have beenpaid since I^'69—on preferred stock In 1874 7in bonds, 1873 7, 1872 7, 1371 7, 1870 7 and 3 scrip;on common stock m 1871 7 scrip, 1870 3 cash and 7scrip. (V. 20, p. 60. 163, 18!i, 474, 476, 593; V. 21,
p. 38, 186, 253, 612; V. 22, p. 280.)
Chicago <t Iforlhwest—The fiscal year ends withMay. The last annual report will be found in theChronicle. V 21. p. '206. The net surplus of theyear on the Chic. A Northwest, lines proper, afterpaying interest, was $1 ,.366, 167, and on the wholesystem. Including pi-orrielary roads, $518,266. Thenet earnings of pmprletaiy roads were $282,004. andthe Interest on their bonds, $1,129,905. Lands ofthe company are 2,108,643 acres unM>]d. and weii;only recently placed m market. In 1874-t), 24,296acres were sold at an average price of $4 78 peracre. The nominal surplus balance of the Company,May 3;, 1875, was $3,6.37,612. Operations for thelast six fiscal years compare as follows:
The trust deed of the gold loan provides contin-gently for a possible issue of $4,1,000,000. bv nltl-
inately absorbing all the other bonds and also nil
subsequent issues, including all the bonds of theproprietary roads of the company. toL'cther asgre-gating $35..349,000, wliich amount Is reserved fromthe $48,000,000. The resldne of the gold loan, viz.,
$12,651,000, represents all the additional indebted-ness resulting from the mortgage. Dividendshave been paid—July, 1878, '^j^ on preferred
;
December. 1872, 3Ji on both; June, 1872, 3X onpreferred; December, 1871, 3>f on preferred; Jnne,
1871, 5 on both; December, 1870, 5 on both;June, 1870, 2 on preferred; December, 1869, 5 onpreferred. 4 on common; June. 1869, 5 on both; De-cember. 1868. 5 on both. (V. 19, p. 205, 375 588;V. 20. p. 136. 186, .593; V. 21, p. 109.)
Chicago <fc Paducnh—Completed In July, 1874.(V. 19, p. 16; V. 20, p. 357; V. 21, p. 8,5.)
Chicago, Pekin & Sotilhwestem.—Opened In 1873Gross earnings first half of li-74, $66,.346; net,$.3:1,720.
Chicago, Hock Island rf; Pacific.—Net receipts Invear eliding April I, 187.5,
'
$3,543, ;s.3, against$:3,256.684 In 1873-74. The income account for yearwas as follows: Gross rcccipls, $7,399,613: netreceipts, J;j,5:34.283; dividend payments, $1,678,381;interest, Ac, $755,000: surplus for the year, $1,109.-H99. Chicago A Southwestern road is leased andInterest guaranteed on $5,000,000 of its bonds
;
the others are in default. (V. 20, p. 614; V. 21,p. .38, 186, 2.i8.)
Cincinnati, Hami'tot tt Doyton.—See report in V.•21, p. «2, showing netincome of $197,192 in 1874-6.Investigating Committee's report. V. 20, p. 357.(V. 19, p. 183; V. 21. p. 62; V. 22, p. 280.)
Cincinnati it jl/orHn(ir«fe.—Recently leased againto the Ind. Cin. & Laf. Interest in default someyears. Receiver appointed, Feb., 1876. (V. 80, n289; V. 22, p. 232.)
Cincinnati A Muskingum Valley.- Is leased for 90years from 1873 to PIttsb,, Cin. A St. Louis fornetearnings, but bonded interest is guaranteed. Deficitto lessees in 1874 was $115 238. (V. 30 p. 427.)
Cincinnati, Richm/ynd cfe (7A7caf70.-- Leased to Cin.Ham. & Dayton, which owns inost of the stockNet income above Interest, 1874-5. $2.5,683 (V 91*
p. 62.) ^'
Cincinnati, Richmond tt Fort Wayne.—Leased toGrand Rapids for 99 years. Interest on bonds ispuarante ;d by Grand Rapids, Cincinnati Hamilton& Dayton, and by Pennsylvania Co. (V. 80, p 15)
March 25, 1876.] BAILROAD STOCKS AND BONDS. zvli
SabMribera will oonftr • creat laror by kItIus Immedtate notice of anr error dlscovare* ta theaa Tables.
IJESCKIPTION.
For explanation of column lieodlngg, Ac, see noteson tli'Ht pngo of tables.
MUCHof
Roiul.
Dateof
BouiIk
SI/,o orpar
Value.
AinomitOutntaniliiiK
INTEREBT OR DIVIDENDS.Ilato nor Wh«n Where Pajralilo and b}' KliKka- IjmtCent. Pay'bic WDoin. Dlvldoixl.
Columbxts, Vhiciiaoit Indiana dentrnl—SUwkIst mortgage Columbus, chic. A Iiid. Central...
do (Chicago »k Great Eastern)do (Columbus ic Indianapolis Central)do (Union i& Ixigansiiort)do (Toledo, Logaiisiiort& Burlington).do (Columbus <& Ind. 1st and 2d prof.)do (Cincinnati & Chicago Air Lino) . .
.
2d mortgage (Columbus & Indianapolis Central)do (Indiana Central)do (Chicago & Great Eastern construe.)do (Columbus, Chicago & Ind. Central)
Income eonvertihie do doIiicoiiie (Toledo, I.ogansport <fc Burlington)
Cotumhus, Sjirini/rtrlil <( Cincinnati—Xnt mortCotitmttns if- Xenia—Stock1st mortgage r
Concocfl —Stock(loiu'ocil iC rarlsmouthSUicM.Cnnnfcttcttt rf Pttssnm/tsic—Stock.New 1 tgiiao. (for $1,500,000)1st mortgage, sinking fundNotes, couponMassawippi st'k, gnar. same dlv. as Conn. & Pass.
do bonds, guar, by Conn. & Passronnrrlirtil Cciilrnl—lHt niortgago for $100,000...Coinm-Hrtit Ifircr—.Stock
Ist iii"itgii(,'e (sinking fund now $148,931)i'niinfclirul V«//r//— 1st mortgageCon Uf't'lii'itl iVrsfcrn—1st niortgago{'ttiinrrfinij ( f'/n/(t.)--lfii mortgageCuntln-ctitnil tf- rcunsi/lciniiii 1st mortgjigc2d iunrtga;.;e, sink ill;; fund. (gii;i,i'jmteed)
Cincinnati, Sandmkt/ A Cleveland.—In the yearending June :M, 1875, gross earnings were $857,695;expenses, $5(>1,7T5; net earnings, t2B5,919, or justabout 8;iO,()00 better than in 1873-74. (V. 81, n.591.) '
Cincinnati <t S/^riny/JeM.—Leased in perpetuityto Clov. Col. C. A I., with guarantee of interest
;
on first mortaagc half of interest is also guaranteedby Lake Sh. & M. S.
Cincinnati, W'lhaxh <« mcliignn.—V!L\& interest•lanuary, 1876, to bondlioidirs not consenting topage, and allow funds to be used for completionof road. Some bonds held by Lake Shore A Michigan Southern, but no indorsement by that company.(V. a;, p. 1.58.)
'^
Cleretand, Cotumhus, Cincinnati & rnriianap.—Bythe latent annual report "nrplus on interest in 1875was$5iin.2fil. Netearningfiin I8-5, |il,047,31t, against*l,0«i451 in 1874. (V. 20. v. 241; V. SI, p. m, 85);V. 2'J, p. 8.-.r.)
Clevelaivl <t Mahoning ra/fev.- -Was leased to At-lantic & Great Western, but that company defaultedon the rent. See V. 17, p. Sli; V. SO, p. a5, 139.
Clevttaiul, Mount Vernon <ft /)«;awar«.—DefaultedJuly. 1874. and made compromise by whicli all thecoupons due July, 1874, and one-half of couponsfrom January 1, 187.5, to and including .July 1, 1877,arc 10 he postponed to .Ian. 1, 1885, and the reraain-
lo~-^ '" ^ P"'^ ** ""-y mature. Gross earningsI8..1, tias.027; expenses, $389,.3()0; net, $96,667.(Sec report, V. 20, p. 38 0.)
Ctetdand A Pi/faftwr^A- -Leased November, 1871to Pennsylvania Railroad Co. at 7 per cent on stock.Dejjdes cxpunses and interest. Report for 1875, V.ii, p. ao«, showing surplus of $i;a,383 over allexpenses, interest, Ac.CUreland. Tuicarawat VaUey * WiMllng.—TUa
road was sold under a Sd mortgage, Jan. 27. 187Sand re organized. See V. SO, p. «!, HO, 338.ColebrooMale.-lAinsf.& to Philadelphia & Read-
ing. No dividends paid on stock.
Colorado (7tn<ra^,—Built by Union Pacific, whichholds the bouds, $5,270,593 in all. (V. 21, p. 85; V.22, p. 61.)
lolMndus tk Hocking Vrt'fcy.—Gross earnings,1874, 1717,490; net, $357,077, ai;ainst$376,159in 1873,See annual report V. 20, p. 47H.
Co'unt^uA. Chicago eft I'-diana Central.—This wasa consolidation (Dec. 4, 18()7i On.Iannary 22, 1869, it
was leased to the Pittsb. Cin. & St. Loms, the leasebeing guaranteed by the Pennsylvania Railroad.A new or amended lease wa-* made February1, ISro, also guaranteed by P. R. The firt lease
fiaranteed interest on $15,000,000 of first and),000,000 of second mortgage bonds, the amendedase on only $15,821,00(1 o7 first and second bonds.
Aug., '74, default was made on the $.5,0(W,000 secondsand suit Is pending. The Presidents of the Pittsb.Cincinnati & St. L. Company, lessee, and the Penn-sylvania Railroad, guarantor, wrote a joint letter tothe trustees of the $15,821,000 mortgage bonds,authorizing pnblic notice to be given that theinterest on the said $15,821,000 of bonds would beregularly paid bv the Pitts. C. & St. L. Co.. butthe interest on these has not been paid since Oct.,1875, and suit against the Penn. Railroad is pending.Net earnings, 1874, were $933,990. (V. 20, p. 29, 61, 140,
162, 241, aiS, 355, 382, 4'i6, 693; V. 21, p. 13, SM7,6U, 584.
CotitmJrtts <fe Xenia.—TWiH road is leased to the Lit-tl Miami Co., and both reads for 99 years to Pitts-
burg Cinn. A St. Louis Co.; the lease is guaranteedby Pennsylvsnia Railroad, and the terms are 8 percent on stock and interest on bonds.
Oon«jrrf.—Pays 10 per cent a year; net receipts in
1874-5, $310,904. (V. 20, p. 499.)Concord <8 i^)r<»mo«<A.—Leased to Concord RR.
at $25,000 per year.
Conne^icut 4 PjwwmpMO.—Annual report tcJune, iff75, showed net earnings for year $2iSi,875,
against $272,790 In 18T8-4. Dlv. passed Aug., 1875.Tne new mortgage of $1,500,0.0 will retire previoofissues. (V. «1, p. S17.)
Connecticut Ci?n/ra/.—Leased to Connectimt Val-ley at a rental covering interest. (V. *22, p. 909.)
Connecting.—Leased to Philadelphia & Trentonand operated by Pennsylvania; tertns, per cent or$1,8;8,3')0 stock and interest on the bonds.
C»tnt>ertand ,f Pennsylrania.-Owned and oper-ated by Consolidation Crml Company, which guaran-tees second mortgage. Stock $1,500,000.
Cumt)e^innd rft/icy.—The stork is owned in largepart by I'tnnsylvania Kailrnad Co. Net earnings,year ending Sent. 30. 1875, $'260,.594. Large advancesnave been made to branch roads. This companypaid 9 per cent In 1871. ' in 1572, nothing in 1873,but resumed In 1874, and declared 5 per cent, inOctober, and semi-annually since.
PanHUe ITazlelon <t ini/A«»<irr«.—Leased, March,1872, to Pennsylvania Railroad for 33 years. Thecoupons due October, 1874. were purchased by Penn-sylvania Railroad. In default, April, 1875. (V. SO,
p. 3.3s, 476. 500, 670.)
Dandle JJrbnia, S oominqton it /VVWn.—This is
a part of the Indianapolis Bloomlnyton A Western,now in default. Sec I. B. A W.
Davenport <t SI. Paul.—To be sold in foreclosure,
March 2. 1876. (V. SO. p. 61, 313, 593; V. SI, p. 441,570.612; V. SS, p. 67,281.)
Dayton <t Michigan.—liea-xsA In perpetnity to Cincinnati, Hamilton A Dayton for annual interest
bonds. Dividends of 3X per year are gnaraiiteod
C. H. A D. on common stock. (V. SI, p. 63.)
xviii RAILROAD STOCKS AND BONDS. [March 25, 187tf.
Snbserlbers will eonfsr a creat favor by sivlus; Immediate notice of any error discovered in these Table*.
DESCRIPTION.
For oxiilnnntion of coluiun licudiuKa, &c., see notesat tlie heiul uf Unit pnKU of t»bles.
Diwlim it irf«to-«—l»t M., guar. L. M. & C. & X. . .
.
DeTmnire Kni7ro«(?—StocklOxtonsidii mortgageSt ate louuMortgaftP bonds, oonvcrtlblc, guar. P. W. & B,
Itclatcare d- liimiid KcooA'—Jut mcirtgiiKOSflnwurf, Luekawanna if Wrsleni—.Stock
!iil iiiortpvKc (Delaware, Lackawanna & Western)Honils (convertible June 1, IHT.'i to '77)
Laokawaniia ik lilooiusb., Ist luort. (extcusiun) .
.
do do 'JdiuortRttKePenvfr Pacl/lc—\st niortnase, gold, land grant.. ..
Venrrr rf: Kin Cfriinde—lni niort.. gold, sink, fd2>f« Mninrs it' Fori 7>h/(/c— 1st mortgage, cuupouVclroil, net Hirer <C /«.—1st mort., coup, or rcg
•-d mortgageDelroil, Lmming £• Lake idch.—lst mortgage
iRt mortgage, on brandies-d mortgage, on main roadIonia & I^iusing, Ist niort., coup., may bo rcg
—
do 2d mortgage do doDelroil <£ Mihcaukee—l st mortgage bonds
Dayton cfc Western. Leased to Little Miami, andwith that to Pittsburg Cincinnati & St. Louis.
DiUiH'ore —Leased by Philadeipliia Wilmingtondk Baltimore Railroad for 30 per cent of gross earn-ings. In 1874-5 gross earninirs were $510,094, andnet receipts therefrom, gl.Vi.O-iS.
Delaware tfe Bound Brook.—Thin is p irt of thenew route between Ne-.v York and Philadelphia. (V.fi, p. 20!), 257.)
Delaware iMckaioanna tt Western.—The gaugeof road narrowed in March, 18';6. The com-pany's operations consist in large part of coalmining and transportation, and no annual reportis issued except the statistics required tiy the Stateof Pennsylvania. The Morris & Essex itaiiroad is
leased aud some of its bonds guaranteed. Fromthe last anunai report published in Ciironici.k (V.il, p. 84), the following comparison is taken:
-(V. 18, pp. fiSi, B07; V. 20, p. 85; V. 22, p. 2)2.)
Denver 7'«W;/f(?.~0perated in close connection withKansas Pacift'-. Land grant, 1,100,000 acres. In1874 g^-oaa earnings were $310,911; net earnings,$174,019; total income was $24J,2S', and interestpayments, $lS(i,f»*S. Cost of road and equipment,t6,494,35a CV^20, p. 560.)
Denver <t Rio Grande.—Th\a is the principal nar-row-guage road (three feet) in the United States.
T he whole line as projected is 8.5 miles. Earningse o far have been good.
Des Moines <f- Fort. Dixlge.—Th'^ is part of thees Mt'ines Valley, reorganized after f,. reclosiire.
C capons of Jan., 187(5, funded. (V. 21, p. 488.)
Detroit Eel Rlvtr * ffii/ww.—Butler to Logaus-•j ort, Ind. Opened In 1873.
Detroit Landing A Lake Michigan.—The reportfor 1874 is given briefly in the Chronicle, Vol.20, on p. 28 8« showing gross earnings of $807,097,net. $31i>,290. Couponson 1st mort. paid half in cashand half in pref. stock; coupons of I. & L. bondspaid in cash. (V. 18, p. 376; V. 19, p. 376.)
Detroit & Milwaukee.—This road was operated bythe Great Western of Canada, but defaulted in '.873.
and negotiations are now pending for settling thedebt. Oftlie lionds of .)unc, 18(i6, $1.2i8,nft0arein tlie
hands of the Merchant*' Bank of Canada, redeem-able <iiro,000 per year. The Detroit & Pontiac inter-
est has been paid in whole or in part, and it is notproposed to fund coupons on those or Oakl. & O.bonds. (V. 19, p. 118, 271,.350; V. 20, p. 242, 311,357, 383, 600; V. 21, p 186; V. 22, p. 110, 209, 281.)
Duhnque cfc Sioux Ce/y.—Leased to Illinois Cen-tral, in 1867, for 20 years, at .35 per cent of gross earn-ings first ten years, and ,36 afterwards. In 1874 grossearnings were $1,067,592.
Dvbiufue Soiitfiwestern—¥iir]cy to Cedar Rapids,la.—Gross earnings, 1874, $117,107—$5,80 below1873.
Dunkirk Alletjh, Valley d- Pitt^urg.—\ consoli-dation, Dec. 1, 1872. Stock, $2,300,000. Road leasedand bonds mostly held by New York Central &Hudson.
Ea»C Tennessee Virginia <t (7aWf7U».—Gross earn-ings year ending Jane 30, 1875, were $1,0,59,985; ex-penses, $.34'2,46°2, and net earnings, $717,522. Annualreport, V. 21, p. i75.
East Pennsi/lvania.-'jAias&i to Philadelphia &Reading at 7 per cent on stock aud bonns. Divi-dends are per cent per annum.
Eastern SAor«.—Formerly leased, bnt now oper-ated (m owB account since December, 1869. Latest
rctxirt V. 20, p. 593. Coupons for $216,000 overdue.
Eastern (j\fas8.).—henf^es Eastern in N. H.stock of t49a,.500. Leased Portland Saco & P.per cent, but 6 accepted by P. S. & P. for 1876
|
1877. Company embarrassed 1875, V. 21, p.Annual repoiit, V.21, p. 569; V. 22, p. 158. Fding proiiosal V. 21, p. 612. (V. 20, p. 177, 242 : Vjp. 323, 347, 535, 669, 618; V. 22, p. 42, 61, 87, f158.)
'
Mmira <t- Williamjiport.—ljetise& in 1833 to Norfern Central for 999 years. Rent amounts to $I65,0(
'
per year.
Erie.—Mr. H. J. Jewett, the president, was ai
pointed receiver May 26. Negotiations for a thir
rail and for settlement with bondholders pendiiiMarch, 18'fi. Interest on the llrst four mortgapiIB paid. Foreclosure suits were commenced undthe fifth and consolidated mortgages, butFebruary, 1876, overdue interest on 5th mortga;was paid by Maitland, Phelps & Co. The largct grr
earnirgs ever made were $20,01'^,606. in 187'3-.3. Tfollowing comparison for four years is fromcompany's report to N. Y. Stale Engineer foryears ending Sept. 30 : 4
Gross Net IntercsReceipts. Earnings, Rentals, A
1874-5... .. $17,677,746 $4,99^,616 $6,3.i1,;
187&-t... ... ]8,r,98,S99 5,0:J5,161 .5.021,1
1812-3... ... 20,li;2,6n7 6 871,965 3.42.5.;
1871 a... .. 18,371,888 5,777,88! 2,:!89,'
The floating debt Sept. 30, 1874. was ?2,532.2and Sept. 30, 1875. reported at $1,421,641. V.p. 288; V. 20, p. 61, 85. 14«, 453, 477, 621, .570, 5V. 21. 0.39, 63. 137, 159, 186, 207, 530, 277. 3I>2, 371, 3441, 591, 612; V. 23, p. 41, 42, 158. 2-33, 281.
Erie it 71f^«*!(r<7.—Leased in perpetuity toPennsylvania Railroad and transferred to Penn.C
I the terms guarantee 7 per cent per annum on fltt
and debt. Net earnings, 1874, $382,386. (V. SO.
4*6.)
March 25, 1876.] RAILROAD STOCKS AND BONDS. xtx
SnbKcrlbora nrlll confar n sront tAvor by slvlas Immediate notice of anjr error dlaeorereA IH tMrM Tafelee.
UKHCKiraTOX.
Forexplaniifioii (if coliimii iHMilliijn, &e., gocuoteBlit I III! lu'iiil lit tli-Ht im^e of titblcH,
Erie J! rill.il)iin/—(r'<iiil!nficil)—
f'linsiiliil.iiiMl IIP.." -ii r- li-KiMif Stale taxI'liliiilniH'iit liiiii.l.
KiirD/i'ii a- \.A iii.-i A y... lliiii;;'i-1o Wiiiii.,liaiiK'rl'ii
I.iimlKiaiit Ifil molt. (l'iI imirt. liaiuror to Wliiii.).
niiii^nr .V risiiatU'inlH, Uanicut* liiaii. Ist iiuM't^. ..
1st iiioil^'aKis sl( rllUK, 1)11 N. Jiruuswic'k ioa<lKriiitiiC iC Criiiri'tirilsc.— l^t m., Kv. A III., h. f
I «f iiKift., Kltiliiiij; ruiiil (I'lvausvlUo to Ti'rro 11,) .
'Jd irmrrira^;.', j^oldannul liiii>i(ls </' /jir?ii;H'(—StockIsl iiiiirt., land irnint, jrold (sfiiai'. by Pa. RR)1st molt., land ^ivint, i;old, not KiianintciMlIncoiili! inoltf-'aL-c lionds, fov $10,01)0,(100
Ortinil Trnnl; ((;'(/((((?(()—Coii.solidatod stockNew si ocb for .i; 1 o.ooo.oOO .•
HIoitKasc to liaiik ofUii. Caimdaon siiridiLs landsKi|tii|>m(Mit mort., Ist on all i-ollin!; .stuck
do 2(1 . do •. do
Postal lionds, &c., Rc.cnnrd liy gov't Imsliiess1st fiicf. bonds, coiiv. into Ist in-ef. stock2d do do 2d dolid do convCanadian delient iircs (.t;.S,(JO0,O(>i))
QrMl Wexlein (Ci/im/i^O—Common stockI'refciicd ,"> per cent, coiiyeiilblo into common . .
.
DebenturesBlori Kago lionds, couiioir.
do dodo do
Now bonds, conponOirci/i-iV/f ,f;('<)/>(«i^;((—istniort.,snar.liyStato . ..
Bonds not ^narniitcctlNew iiiortxuKO ( lor .'(i2,5OO,0(M))
Kuropean if. Karlh AmerUnn. — Dnfftnltcd inIS"';. A very cnmtiletc stiuomcnt of delit, incliid-
iui; bonds ple(li:cU for loans, in V. 31, p. 31.5. Intor-C!*! is paid on Ist m()itira'.r>-' and liiin;;i)i- &, V. (V. 20,p. (ilj; V. 21, ;». 15, iTi, 31.5, 318, ai).5, 118.)
Erani>ri<ls iR (7'nw^»P(l«rW«—Common stock is
«1,(>-H, ll)(i; iireren-ed, $100,(10(1. Net earnings 1S74-.5,
$! Il.'i'iii. The i-onipiinv lias pidil Interest reyiilarh-,
bat noilivideiids. iV. ;Jl,p. 488.)
f.ra)i.icille, Ttrre IIiiiUi ifc CAiiMffO.—In 1874 5 note«raln!;s were $ll'l,03!i. (V. 31, p. 136.)
K lcfiAitrr/.—ly:&Mi8 Vermont & Massacltuij'-tts.Nut (.amines 18r4-.5, S39l.u2i; rtiviili;iiil.s, s percentfor some yearn. (V. 21, p. H'J, 59U.)
F7lnt .f P,re .Uiin/iMlle.—Qm^ft carninep 1871,$l,0i!-!.il''.5; opcrntini; c>rpe'ises. *tf!).i.!)'».5; net euni-ilHts. $*(l,!):).l. Total huid s.-lle- to .Ian, 1, l«r.5
S'i;il.5,sri.-i, or ?< 03 per ,icri!. Hills rcci-ivatil.- onland sales .T.ia. I, 187.5, were l!4l",8(!t. (Joupoeg oneousol. bonds p;isse<I Nov., 1875. tV. 'id, p. 4:)8,593; V. 21,1). 488, .5;ll.)
Ftiothtiirj, XorUuilioni d'r Central.—.\ consoliilationInlHT-lof seven ctaiiiiuiiiis. Leit-es .Sinitliurn of L.I. Tliere are. in iiildiliiiii to nljove, '35.100 N. Y.& Fiusiiln!; RK. Ts; 4M.I,n.)il'Noitli -Shore 7»; and»il.3,00U-Wlute8tono & Wustcliester Ts. (V. ao, p.38-A)
Jibiutii, .Mirulown it CHovcrsvUle.—yet candnfrsisn-a. $4.5,»57.
i-tl. Intere-'t wfls!" 'Siwri. ii(2«;,888;n>i. i. p. :,'Jl.)
Fori Wnimt, AfiuuHe <ft C'ina»n«'i.—Receiverappointed Nov. mbcr, 1874. iV. PJ, p. OO-^, 538, 5»i;V.'*), p. 1*1.)
Framht(/fmm ,6 LmwU. Leased to Boston, Clin-ton A Fitchburj;; has also SliU.UUll !J per cent bonds.tV. 16, p. 1S8.)
(Mveslon, nurrwhiirq A Sa" Antonio.—In pro-gross. Net oaniinss lt7i-3, $1.S2,3&1.
Oa'rexton. Ilomton <6 Henderson.-ISH, If235,375.
-Net earnings
Tot. ffr. (jarnrr's. ..
Opcrat'j; expensesNet earninjjsDiv. oustk'sSp. c
Genera, nhmm d: Alhtnii. -Consolidation in 1R74 ofGeneva & Itbaea !ind Ittmca & Atliens. In Receiver'sliands, April, 187.5. (V. 17, p. 8*5; V. 20, p. 357.)
Owrr/ia liailrnn'l <0 Danking Company —The an-nniil rt!port for the lust lisciU year, emliiii; Apiii I,
1.S7.". was piiliiislied in V. 21, p. 15T. -\ com-parative statement for tlir^o years was asfollcws;
1 11 May, 187.'), Iliis compimy, witli the Centnil Ge-'rgia.pnrcliase.l at fori!closiiro sale the Western Railroadof Alabanri. (V. lil, p. 247; V. 31, p. 395.)
nilmin. C.'iiilnn .f- Sprinntel'l.—This companyd.f.uilled in 1«14, and is now in receiver's hands.(V. 19. p. 148, 893, 683; V.80, p. 404, 570, 615; V. 21,p. 39, (13, IK.I.)
(franil Kajdik .P TnUiaaa.—An onioial descriptionof bonfis was ;tiveii ^\hoa they wcr« put onthe call of tile .\ew York 5'ork Stock Ex-cliiingo, in .Taninry, 1875, as follows: »4.(i0i),(>i0
are ' (iiiarnnleed II^muU." Priiicipil and interestpiinTOiiteeU by the Pennsylvania Riilroad Com-pany, and iwe also a lien npon the land grant.No. 1 10 4,0 (I. Si.020,110:) are • Cn-uaranteeriBonds." which are secured by the samemort;_'ago as the -jfiiaranteed bonds on the enlir.! land ..Tant. ipWOiWO arc ' E.-:. l.)ind Grantlionds." bciii!.' a pnrt of the oriffnnl SI.OOO.MK) un-euaranteod lionil-'. .-..• .,-,. from time to timebeen re.leeiiieii li> 1:1s of tiio sinkingfund. When the ,ie is detached thev I
are no lonxer a iiem... ,,. ...i... Imt. by the terms of|
the tnist deed, remain a llrst mortgage on tlio whole
line and appurtenances. No. 4.001 to 8,0tX). Cou-pons April and October. Aunuid report, V. 21, p.
Sonnds st(!r;injt. Gross caminsjs in half year endingulyl, 1875. £893.118; c-xjienses. £717.^43; net carn-
ines, £175,4()5. Consolidated debenlure stock au-thorized July 9, 1874. (V. 17, p 4511; V. m, p. 169,
351. 423, 503; V. 20, p. S69; V. 21, p. 440.)Oreal WeMern (Crt/ia</fl).—These fly:irres ; re piv(?n
In pounds sterling. Company leases several mads inCaiinda. amounting to I56V miles, and the Detroit& MIln'anki!e, 189 nulcs. For the half year endingJuly 31, 1875, tii« gross receipts were £IH.1»<;working expenses, £.393,?i3; net earnings, £17,3!M.
( V. 20, p. 669, V. 21, p. 412, ii40.)
GreentiUe tt CW«mAi<».—This rompanv defanlledseveral years since, but compromised with its land-holders. (See Chbonici.e, V. 16. p. 220; V. 17, p.460, 752; V. 20. p. S68; V. 28, p. 110.)
Oiilf. tVaitern Term ct /'(jci/fc—Net earnings,1S7J .5. $50,1100. Overdue roiipoiis, $2 IS,5tO. Bond-holders wait. (V. 20, p. 4'.i8.1
l/annibnl efe St. .rosep/t.—Ot the Missouri Slate loan|;l,.50l),000 was extended for 20 vears. It is sisicdthat the Co. lias 2..5()P.(00 in land notes, and !)e,0(iO
acres yet unsold. .\ change in tlie directors tookplace Nov., 1875. No report has been issued since1872. (V. -.11, p.412, 488; V. 22, p. 158.)
fTiirritlrurir, Forlnmoulh, Mount Joy * Lanewiitr.—Leased to Pennsylvania Railroad, which owns amajority of the stock.
Hiirlforil. Providence <t .flij</i*itf.—This road formsa part of tlio proposed line of the Boston, Hartford.6 Erie. The bonds fell dne .Ian. 1876. bnt cilv ofProvidence declined payment and salt is pending.(V. 22. p. 87.)
//')'i.«rt/ofl'r,-T.e-u.»e- Berkshire Railroad, Stock-bridge & PttlsBeid. and West Stockbridee. Grossearnings in 1874-5 were J«82.n(»); net. »222,I78. Themort. bonds dne JST? paid off Nov., 'ij, (V. 2J, p.%3%.)
XX RAniROAD STOCKS AND BONDS. [March 25, 1876.
Subscribers nrlll confer a creat lavor by bIvIix Immedlato notice of any error discovered la tbese Tables.
DESCRIPTION.For explanation of ooliimii beadiuKx, Ace, soo notes
international <e dri'at yorlhern—Consol. stockInternational, 1st mortgage, goldHouston Al Gre.it Northern, 1st mortgage, gold. .
.
Int. & H. & G. N. convertible bondsdo do 2d mort., (o.veh'ble for convert.)
Jowa Falls it Simix CiVi/—1st mort., Aju'lU, 'fii)
/ro»i ilouHtain, Chester it £.—Ist mortgage, goldJaeksone., I'etis.it Jfo6.—Flirt'ida State Ixuuls, gold. .
.
7e^(*™o»fiV(.;— Ist & 2d morts. (Hawley Krauch)..Ist mortgage (.Susquehanna to CarlMuulale)
JeffersimvUU, Madison (t Indianapolis—StockIndianapolis »& Madison, 1st mortgageJcffersonville, Miulison i lud., 1st mortgage
do do 2d mortgageJersey Cilu it A /6nn«—1st mortgage, gold
Rirtgelield Park, (N. J.,) 1st nuutgage.•Jodei it Xftrtbeni Indiana— It^t mortgage.Ju>ii;tion, Philadelphia—1st luortgage2d mortgage
Kansas City, St. Joseph it Couneil 7?/i(fl%—Stock..1st mortgage. Council Bluffs & St Joseph. . .
)
St. Joseph & Couneil Blutfs, 1st mortgage. .
.
do do convertible I
Missoiui Valley, Ist mort. (.$1,000,000 gold)Kansas City, St. Jo. & C. Bl., eousol. nnirt.
.
New eonsoUdated mortgage (for $8,000,000)Three year notes
Kansas Paeijie—Stock1st M., 394th to 63i)tli mile, I'dgr., 3,000,000 ac'sIst nnn't., gold, coup., on 140miles west Mo. Riv1st mort., gold, ItOth to 3it3d mile2d mort (to U. S. (iov.) on 394m. west Mo. River1st mort., coup., (Leavenworth Branch)I>and gr. mort. (Dunint), eonp., on 1,000,(X)0 acresIncome bonds, coupon, 3d mortgage on 427 miles.Ist liind b'rts, cp, or reg., gold, oh 2,000,000 acres2d land mort., do do doArkansas Valley, Ist mortg.oge, gold, guaranteedJune. C. & Fort K., 1st mort., gold, land gr., guar
Kent Cnunly, (Md.)—l»t mortgage boiuls.Kenturl;!/ rvii/rni—2d mortgage3d iiiortgiige
Knox it Lincoln— 1 st mortgageiafc« JCric it Loniseille—lsi mort. ($1,100.000)Iiake Shore it Michif/an Southern—StockGuaranteed 10 percent stockConsolidated Ist mortgage, sinking fund, coupon
April 1, 1903April 1, 1903Jan. 1, 1889March, 1883Jinie, 1885
19041884
April, 1892Feb. 1, 1876Feb. 1, 1876July 1, 1900July 1, 1900
Houston if; Texae Central.—Gram earnings in 1875were t2,980,0.J2; net earnings, $1,143,9:15. Interestcharge, $175,000. Capital, $6,I50(I,00J. The companybuilt a large part of its line ont of net earnings,and subsequently distributed a large amount ofstock. (V. n, p. rr; v. ao, p. 77, 140.)
Uuntinfidon <6 Uroad Top. - Capital stock is $1,-998,850. Gross earnings in 1875 were $.322,839; net,$It)5,480. Interest passed on 3d mortgage bonds.(V. 22, p. a06.)JUinoif Central.—The company guarantee $i,000,-
OOj bonds of N. O. ; also hold $4,842,000 of their7s, gold, against I. C. .5s above mentioned. Thebonded <lebt in proportion to stocks is still small ascompared with most other companies. The man-agement of the road has been one of the best in thecountry, and its land grant highly prolltablc. Thedirect line to New Orleans formed in 1873-4 hasrot yet been as proHfable as it is expected to be. In1874 dividends were reduced to 8 per cent. Thefollowing is a comparison for four years:
Gross Net Interest,Year. Eaminsrs. Earnings. <fec.
1875 $7,S02,55t) $2 67(),i»l $661,0931874 7,a00,721 2,775,302 413 6101873 8,268..325 2,5.10,890 55M.371872. 8,020.754 2,103,107 557.42)—(V. 20, p. 61, 140, 288; V. 21, p. 489; V. 22, p.16, 866.)Indiana it Illinois Central.—ThU road was sold
April 26. 1875, and re-organized as Springfield De-catur &, Indianapolis. (V. 20, p. 162, 421, 521 ; V. 21p. 40.)
Indianapolis, Bloominffton <f Western—Default wasfirst made July. 1874, and affairs are yet unsettled.Receiver's certiflcates issued to Aug. 1, '75, $80%00J.The Danville, Urbana, Bloomington & Pekin is partof this road. Plan of re-organization. V. 2?, p. 110.(Vol. 20, p. 61. VIS; V. 21, p. 24.), 277, 348, 39J; V.22, p 16 61, 110,2.57.)
Iwlianaiiolii, Cincinnati A Lqfaijette.—Tlie com-pany was re-organlzed in June, 1873, and has sincebeen doing a good business. The last annual report
was in V. 21, p. 461. Gross earnings, 1874-75,$1,767,831; net, $670,980. (V. 20, p. 162. 357; V. 21,
p.t!07, 277, 465; V. 22, p. 2.57.)
Indianaiiolii & St. LouH.—The stock, $600,000, is
owned by Pennsylvania Co. and C. C. C. & I. Thiscompany forms part of the Pennsylvania system, andleases the St, Louis, Alton & Terre Haute. (V. 21,
p. 395.)
Indlanaiiolis <fc Fineenn*!*.—Road is leased toPennsylvania Company at 30 per cent of gross earn-ings, but rental guaranteed to be $-i06,000 per annum.Gross earnings in 1874 were $274,.59o; net, $8:1,207.(V. 20,p. 4 26.)International A Great Northern ( Texas).—Thifi Is a
consolidation of the International and the HoustonGreat Northern. Interest passed and fundin r pro-gressing! The company had an issue of Texasbonds granted it, but the grant was repealed andland given instead. (Vol. 19, p. 17; V. 20, p. 136,29), 31;), 383.)
Iowa fails cfe Sioux C'i7y.—Leased to Illinois Cen-tral at .35 per cent, on earnings. Dividend 2X percent, Jan. 1, 1876, on Jl.fl-JS.OOO stock.Iron Mountain, Chester & Easlern.—Thi9 was for-
merly the Chester &. Tamaroa. Bonds are in de-fault siuce 1873, and a receiver has been appointed.(Vol. 19, p. .520.)
Jacksonville, Pensacola (fe Modite.—This road is
mortgaged for a like amount of Florida State bonds.Indefault and litigation. (V. 19, p. 629; V. 31, p. 591;V. 22, p. 158.)
Jeff'erson.—hoased to the Erie Railway Company,which pays interest on the bonds. (V. 14, p. 628.)
.I^ersonvUle, Madison <fi Indianapolis.—Leased in1871 to Pittsburgh, Cincinnati & St Louis Railroadfor interest and sinking fund of bonds and 7 percent, a year on stock. Lease transferred December,1872, to Pennsylvania Company. In 1871, net earn-ings, $519,070 (V. 20, p. 426.)Jersey City cfc Albany.—Road was in proeress but
was stopped in panic of 1873. Bondholders heldoff. (V. 19. p. 365; V. 21. p. 61.3.)
Joliet cfe Northern //idi-zraa.—Mich. Central offeredto extend with a 6 per cent, bond, but court decided
that total rent must be applied to jirincipal andinterest of bonds; still in litigation. (V. 20, p. 85,
140.429; V. 21, p. 110)./imc^ion (iPAi/.^—Owned by connecting companies.
Cost of road $S98,.32I; paid-up stock, $18.5,000.
Kansas City, St. .loseph <fc (JormcU -Blufs—In addi-tion to these, there are also funding b<uid8 of about$640,000 in different issues, .\nnual n-port for 1874
in V. 20, p. 475, gives the funding arrangements in
Kansas Pacific.— In 1874 net earnings were$1,6S.5.';04, against $1,416,.308 in 1873. The landgrant is m two trusts, 2,000,000 acres in the first,
from the Ist to the .380th mile, and 3,000,000 acres in
the second, from S-SOth mili; westward. Interest onincome bonds is payable in lands or cash, only outof net earnings. The company now pays half thecurrent interest on its bonds, (except the incomes)88 ab )ut four-fifths of bondholders have funded.An ieiportant settlement with Union Pacific made in
May, 1875. See annual report, V. 21, p. 252. (V.
19, p. 271,365; V. 20, p. 8, 85, 476, 501, 544; V. 21
p. 466. 61.3.)
Kent Co.—This road was completed in 1872, butdefaulted in 1873. No recent information received.Kentucky Central.—Th\s was formerly Covington
& Lexington. The prolonged litigation regardingthis Co. has been settled. (V. 20, p.' .500; V.21, p. 39.)
Keokuk <fc Des Afoin^.-—Formerly East. Div. of DesM. Valley. Int. on first mort. is funded to April,
1876, except on $452,iX)0 bonds reserved by Co. tobe sold. The stock is $1,524,000 pref. and $-2,400,000
common. In year 1874-5 gross earnings were$757,381; net, $282,868. (V. 19, p. 82,588; V. 20, p.
520)Lake Erie A LouisriUc.—ThU road was a reorgani-
zation, and has been financially embarrassed. Thersis a second mortgage of $590,000. See V. 19. p. 360.
Lake Shore & Michigan Southern.—Thu&nwnai re-
port for 1874 was published in the Chronicle, V. 20,
p. 451, and report to June 30,1875, in V.21, p.
352. Other reports, V. 22, p. 41, 61. The
March 25, 1876.] RAILROAD STOCKS AND BONDS xa
Mabacribera vrlll confer a sreat favor bjr clrlnc ImmeAlate noUe« of anjr error AlaeovereA la thaaa Tablea.
DESCRIPTION.
For ezplanatlou of oolunin bea<UiiK8, Ae., see uot«8at tbe bead of tlrat page of tables.
Lake Shore <t Uicliigan Suulhtrii,—(CoHlhiue<l.)—M mortgage, do. (for $25,000,000) coup, and reg.
luooiue bonds («. f. $(!00,()00 per yr.) coup, or reg.
MorlKUgc bouds of Oct., 1H(!!), Hiiiklng fundiHt uiortgagc, sinking fund, M. 8. & N. I
'2d niortgugc, Micbigau SuutheruIstuiortgttgc (IJ., M. ifeT. KK.)•2i\ mortgage (C, F. & A. RK.) registered bouds..3(1 mortgage doLake sbore dividend Imnds, April, 1869iHl mortgage (C. & Tol. RR.) sinking fund2d mortgage doRulfalo is Erie, mortgage bouds
Ist M., Idgr't (750,000 acs)s.fuud(ror$3,000,000)LilUe KiM-k. I'iiie Uluffii N. O.—Ist mortgageLMte .St'hiiy/kill-Mork
lat morlgiige, sinking fund ,
Loiiaus/tl, C'ruir/iirtlsc.tt S.W.of Intl.—latruort., gLong JslandStoGkIsi mortgage, main HueExtensiobGlen ()(»ve branchNewtown tfe FlushingNew York <fe RockawaySuuthtown & Port Jefuiraon
Louispitte, Oincintuili i£ Lexitiglon—iitookPreferred !> percent stockBouds to State Kentucky (iwrpetual loan)Louisville lo.in
Ixiulsville, Cincinnati & Lexingtuu, 1st mortdo do do 2d do ...
Louise., y. Alb. tt St. L. Air-Line—lat mortLouisville t£ JVfwAriWc— Stock1st mortgage on main stemIjoulsville loanIjCbanon branch, I.,oulsville loanIxibanon l)rauch. 1st mortgage
do extension, Ix)uisville loanConsolidated 1st mortgage for $8,000,0002d uu>rtgagc, l>ouds, goldMemphis ik Ohio, 1st mort., sterling, guarMempliis * ('larksvllle br., Ist mort., sterling...
Loiiisrillc, I'adueuh, <£ S. If.—IstraortLi/kens Vullei/—.StockMacon it Augusta—lut mortgage2d mort., cudttrseil by Georgni Railroad
Mac4}n <£ lirunswick—1st mort.. State eudors2d mortgagelOiiuipuient luMids
ilauisun i(-- I'artgage— ist mort., goldUaine Central—HtoekMaine Central Interest scripIst mortgage, consolidated
Tile company's statement of earnings for last halfof 1875, ou wliich the diviilend wasdecl ired.Ianuury,lS7li. sliDWed surplus over interest of $1,075,000. Tlic
2d general mortgage for $:35,0<)0,OOO was created to
pay lloating debt and bonds of 188-i Willi $14,000,000and balance to be held for improvements. (V. 19,
p. 315; V. aO, p. 16, 85, 140, 451; V. 51, p. 9, 853,418.1
Lake Superior & .1/l^.*iK«p/)/.—Formerly leased toNorthoru Pacific. Land grant, l.Hia.OOO acres. Fore-closure plan V. 2i, p. 111. (V. aO, p. 86, 140, 383; V,'il, p. S!i, 570; V. a, p. 233.)
Latorenee.—I,,eased to Pittsburg, Fort Wayne &Chicago at 40 pur cent on gross earuings. , Leasetransferred to Pennsylvania Company. Gross earn-ings, 1874, t;174,643. Sinking fund has $10,000 bonds.(V. 20. p. 4»i>.)
Leavenworth, Lawrenee & Oaiveston.—'Det&nMedon interest Jnly, 1873. (V. 19, p. 39; V. 80, p. 1 10,
102, 26li, 5J1; V. 21, p. 137, 591.)
Lehigh <£ iMckcwanna.—Operated by Central ofNew Jersey as a coal rood.
I^igh VaUev.—TMs company's earnings arcchietly from antliracitc coal. The gross receipts inyear ending Nov. :10, 1875, were $6,ai«,495; net,$2,7a3,63a; m 1874—gross, $6,759.391 ; net, $3,287, <)7-a.
After interest and dividends, there was a deficit in1874-5 of $93,0.'>3. The company's report gives nodetails of the construction accoimt, nor of thecost or value of Its miscellaneous investments. TheAmboy branch was completed June, 1875f and$8,499,887 had been spent on it to December, 1875.A comparative statement for tbree years is asfollows
Capital stock iO,2«!,44B 21.50,1.447 27 ,1 92,-i«7
Funded debt 10,875,000 16,859,000 ','•2,129,000
Ploatingdeht 1,8:17,643• Anthracite.
(V. 18, p. 297, 504, 527; V. 20, p. 3 1 1, 593; V.«2J, p.
150.)Zi<««itfla»ni.—Tills company leases the Columbus
A Xenia, and both arc leased to Pittsburg, Cincin-nati & St. Lonis, j.'uaraiitced by Pennsylvania RR.,lessees assuming interest payment on oo'ads and 8percent on stock. (V. 20, p. 427.)LUUe KockJk Fort .sr»t«A.—Foreclosed Dec. 10, 1874.
Rc-organi/.ed and stock issued for old bonds. Thenew mortgage Is for coustrnction to Fort Smith.
(V. 19, p. 58:1, 617, 6.39; V. JO, p. 62; V. 21, p. 418.)
Little nock, Pine liluff ,6 New Orleans.—So\iX in
foreclosure Dec. 16, 1«5, for $35,000. V. 21, p.
535, 61:l.
Little Schmjlkiti.—loused and operated by Phila-delphia A Reading. Dividends, 7 per c;nt.
Logansporf, Crawfordsville ti S. W. of /ntJ.—De-faulted in 1874. The total llabililies, September,1875, reported at $4,0W,n00, of whidi $,32;,000 werereceiver's certificates. Litigation in progress. (V.
20, p. 86, 312, 521, 693; V. 21, p. 302, 613; V. 22,
p. 65.)
Ijong /jt/and.—Change of management was madeApril, 1875, and In January, 1876. a sale of stock wasmade to Mr. Poppenliiisen, of the Flushing, NorthShore A C«ntral road, giving him ^ontrol. (V. 22, p.
135. 158.)
Louisville, Cincinnati <6 £«etao<on.—There are also
$60,000 old bonds. Gross earnings in 1872-3 were$1,912,027; expenses, $976,574; net earningB, $'2.15.4.52.
The company, after paying dixridcnds on preferred
stock for some years, defaulted ou interest 1873-4.
Receiver took possession in September, 1874. Seehis report to Decemlicr, 1675, In V.22, p. 181. (V. 19,
p.351 ; V. 20, p. 2«, .383 ; V. 21, p. 277, 395; V. 22, p.181.)
Louisville, New Albany Jb SI. Louis Air-Line.—This road is projected from Louisville to St I,rf>als,
and has 28 miljs built. The managers hope to go onIf they can sell bonds ; few of those out weresold to the public. (V. 17. p. 753; V. 20, p. 16, 367,4.53; V. 21, p. S6.) ,
Louisville (ft yashrille. -Annual report for yearending Juue 30 187.5, in \'. 21. p. 369. Gross earn-ings of main stem and branches, $4,3(Xs,95'i, net,$1,516,398. General result of openlling whole systemand leased lines was a deficit of $31,793, after payingInterest and all charges. Net earnings, July toDe<»mber, 1875, much better, being J1,(M3,751.Nashville & Decatnr is leased, and liabilities for theSouth A North Alabama are assumed. (V. 30, p.16; V. 21, p. ».i7 )
Loui.trWe, Paducah * S. IK.—Formerly Eliza-bethtown A Paducah, to which Louisville city
loaned $2,000,('00. In September. 1874, Interestwas not paid. Foreclosure in progress. (V. 20. p.857, 405; V. 21, p. 32.3, 395. 489.)
Lutens Valley.—l^eaiv^d 10 Summit Branch Rail-road at $62,.50;) per annum.
Macon & Augusta.— Ijia^ed and operated by theGeorgia Railroad, which guarantees all tlie bondsexcept $100,000 of first mortgage. (V. 2'. p. 157.)itacon it Brunsicict.—ThU road being In default
was sold June 2, 1875, and bonght for the State;offered again for sale or leas*? January, 18:6. TheGeorgia Legislature declared fraudulent $(><ki,000 of
the endorsed bonds Issued In 1870. (V. 20, p. tun.
501, 546, 670, 593, 615; V. 32, p. 3 of advertisements.)
Madison dk Portgage.—ConmWdtted as ChicagoA Superior. No bonds could be negotiated after
the "Potter law." (V. 21,p. 15.(
Maine Centrnl.—K contract for operating wasmade with the Eastern, Mass., in June, 1813. ThaMaine C'eutral leases several roads. The report ofthe year's operations, ending Dec 31, 18T4, aaowed
:
XXll RAILROAD STOCKS AND BONDS. [March 25, 187G.
Snbaeribora will eonfer a Kremt Mvor by kItIdk Immd'dlate notice or any errtfr discovered In tlteso Table*.
nKSCRriTION.
For explanation of column lieadlnK!*. Ac-, "eo notoxut tlic lumd of Hint im;^ of tublu».
Maine Crntral—f Continued)—JloncU (*l, 100,000 loiui) A. &. K. RKj;.\U'ii»um 1ioiid», 1870, KoldMaine Central loan for $1,100,000Ix'CxIh & FaniiinRton Kailroiul loan '.
Anilioscoggin Railroad, Hath City loanl*urtlaud <K Kenuobeo, ntock
do do l8t mort., (extendeddo do cousoUdaUid uiortgaKo
—
Somerset & Kennebec, 2d uiortgatceBelfast & Mooselu'iul, Ist mortgage
ilaiicheeter rf Lttwrence—StockUantJUM, CoMwiiler it L. Jf.—Ist mortgageJfani^eW <* Framinn/Kdii—1st mortgageUaritUa, PUM. d- vieeeland—Ut M., $11,000 p.m.Marietta rf (7tnci»»)M«(i—Stock, commonStock, 1st preferreddo ^d do
Ist mortgage, dollarlet mortgage, sterling2d mortgage3d mortgage4tli niiirtgage for .$1,000,000Scioto it Hocking Valley KK., Ist mortgageBait. Short Line, stock, 8 p. c. guar by M. Cdo do 1st mort., guar, by M, & C
Cincinnati & Baltimore KU., stockMarquette, H. <t O—Ist niort, I'd gr. M. & O., c
l.-it niort., I'd gr., H. & O., coup2d nort., huid grant, M., H. <& O., coup3d niort., do do do
Maryland it Delaware—lat mortgage'2d nn)rtgagc
Memjihis it Charleston—stockTcnnesse loan1 st mortgage, convertible2(1 mortgageIncome bonds
Memphis it Little ijocfc—1st mort., 1. gr2d mortgage
Cmis.ilidali'd mortgage (for $10.000,000)Michigan t'entral (Air Line mortgage)Michigan Air Line 1st mort., assumed by M. CKqnipment bondsKalamazoo & South Haven, Ist mort., guar
do do 2d mort,, guarGrand Kiver Valley, 1st mort., guai'
do do 2d mort., guardo do stock, guar
Detroit & Bay City 1st mortgage, endorseddo do mortgage (not guar M.C.)
Jackson, Ijauislng & Saginaw Ist mort 1 SSisdo '2d mort., con v. I p.^,"*do 1st mort. (N. of Win.), conv.
(c S'lt
do C!ons. m. on whole line (300m.) J S 9 £;
Michigan Lake Shore—X^t mortgageMidland Paritic—Ist moi'tgage, goldMilwaukee tP Northern— 1 st mortgageMilwaukee, Lake Shore if- Western— int m., goldMine Hill it Sell utitkilt Ifaven—stoclcMineral Point ()('/«.)— 1st nmrtgageMississippi, Ouacliita it Red lliner—Ist m., goldMississippi it Tennessee—1st mortgageConsolidated bondsTennessee State loan
Missouri, Kansas it J'ej-ag—stockPreferred stock (for $7,000,000)Ist ra. , gold, smk. fund, on road and laud ( U.P.S.Br)1st mortgage, gold (Tel>o. it Ncoslm)Consolidated mortgage, gold, on road and land. .
.
Hannibal &l Central Missouri, 1st mortgagedo do 2d mortgage
Missouri li.. Fort Scott it (Jii?/—1st m. l.gr. s. f*2d mortgage, coupon, may l>e registered
Mobile d: (iirard—lat mort. ($212,.'j00 end.)2d mortgage, endorsed by Georgia RailroadPlain bonds
The total earnings for 1873 were $2,068,077.7S; totalfor 1874, $2,094,0,S0..5.5, showing an increase of*S6,002.77. The operating expenses for )8?:! were$I,*iO,.501.44; net earnings for 18T3,$737,."i;0.34. Theoperating oxpenaes for 1874 were tl,a81,li81.35; netearnings for 1874, t812,3!J().30; an increase for 1874 of$i4,8-ij.'.l6. lleceipts tmn passengers were $!ilO,-
381.89; from freight, $l,028,i)(i5.41; from all otherlonrci;^, tl54,r>8:1.25. The report says that ajeueraJ stagnation of busincsa materially afleetedfile road, eo that its gross receipts have onlybeen increased over those of 1873 some *a6,(XX);but tlic practice of rigid economy in working theroad has given an increase of net earnings over lastyear of $7l,h*J.%. ;Durin:; the year the boniled debtof the company was reduced by the payment of theCity of Bangor Loan $474,000Penobscot and Koimebec Loan 100Portland and Kennebec Interest Funded L'a 1,3,!0Somerset and Kennebec 1st mort., in part. 247,000
Total $783,400These liahilities were met by the sale of con.soiida-
ted bon'^s, and by notes payable, increasing lial)ili-
tics only $14,83J. Since the date of Mie Treasurer'sreport 810,700 of the Somerset and Kennebec bondsh.ive been paid, which leaves but about *12,000 ofthese bonds outstanding. (V. 19, p. 100; vol. '20. n.313, 3S6.)
Mancliester <£ /jawre/i«.—Formerly operated withth« Concord Railroad as one line. Net earnings1874-r., $101,117. (V. 20, p. 5(iU.)
Mansfield, Coldwater it. L. J/.—Leased by Penn.Company for net earnings. In hands of mortgagetrustees. (V.20, p. 420; V. 2i, p. 42.)
Mans/ield db Fyaming/uim.—Leased to Boston,Clinton *Fiti-hbnrg, at M par cent of gross earn-ings. Consolidaticm made June, I8T5. (V. 20, p. B15.)
MarieMa, PUtsbur-jh it VleveJand.—l^el earningsml.^74were $40,717. Defaulted and in receiver'shands August, 187.5.
Marietta Jt Cincinnati.—Otoaa earnings for the
year 1375 were $l,ri65.01.'); expenses, $1 290,690; netearnings. $;iri,434 against $5'2:1.150 net earnings in1874. This road forms a part of the tlirongli ronte,and is operated in close connection with the Balti-more & Ohio Railroad, wliich lias made lar»e advances for recent construction on the "Short Lme."Annual report V. 2J, p. 208.
Marcfiiefte, Ilou'jhlon & Ontonajron.—This is acon-solirtatton of Marquette A Ontonagon and Hoiigli-ton A Ontonagon. Lands amount to 43."i,0II.) acres,chiefly timber and minerai. Stoclj. $2,30U.C00.
Maryland S Delaware.—'Vhia line was leased bytlie New Jersey Southern, .to form part of thethrough route, Lately proceedings iookiug to fore-closure have been started. (V. 21, p. ^42.)
Memphis & Charlei-ton—This road Wiis leased tothe Southern Railway Security Co.. Ijut in 1874 thelease was cancelled and Mr. R. T. Wilson, Presidentof the East Tennessee, Virginia A Georgia, road waselected President of tlie Memphis & Cliaricston,with a new board of directors. No recent report hasbeen obtainable. (V. 19, p. 424.)
MemjihU it Little TJoci.—Interest has been in do-fault since November, 1872. (V. 17, p. 380, 649; V.JO, p. 330, 615; V. 21, p. 15.)
Michigan Cmtral.—'Fhe annual r,-'port to May 31,1'<75, (VT 21, p. »09,) sliowed gro.<s earnings onmain line and brauflies of *7,102,'a8ii, .and net earn-ings, $2,0;14,1S8, or $rii 2,-,0 le«,« tiian previous year.The floating debt .Iiinu 1, 1S75, was $770,015, against$l,05e,4D3 on the 1st of ,lune, 1874. The J., L. A S.debt is assumed l)y Michigan Central, wldcii iilso
pays $70,0(X) per yeair on the stock, one-third ofwhich it owns. Semi-annual report to Doc. 1, 1875,in V. 22, p. 41 showing net income of .«ia5.0!»2above interest cnar^e.s. Ac. Interest was pa«se I onthe Detroit A Bay City l)oiids, not guaranteed, Nov.,18T5. (V. 19, p. 143; V. 20, p. 101; V. 21, p. 15; V.2i, p. 41.)Michigan Lake .Sr/wrc—Defanltcd 1872, and in
receiver's hands. (V. 18. p. 218, 001; V. 21, p. 1 1 0.)
Midland /VieZ/fc.—This was one of the roads repre-
sented hy Messrs. TnnuT Bros. In New York, ofwliich Bo'nj. E. Smitli was president. Default in in-terest -was made in February and Angust, 1875.No litigation as yet.
Mi'nmiilcee & j^orthern.—This rosd defaulted oninterest Janiuxry, 1S~5. Circular to bondhulders, V.iO, p. 615. It is leased to Wisconsin Central andthere is said to be some prospect of resniuption, (V.2-.', p. 233.)
MUiDaukee, Lake Shore d Western.— \n 1873 tlie
not earnings were $7,000; cost of road and equip-ment, $3,750,000. Sold in fnreclnsnre for $2,50"J,788,
Dec. 11), 1875. I.V. SI, p. i?J7, B',)1.)
Mine IJin tft Sc/ivylkil! 7/««».—Leased to Phila-delphia A Rendin;,', May 1864, for 9ii9 years; 8 percent dividends on stock..mneral Point.— VoM receipts 18,."!, $128,121; ck-
lionses and interest, $l80,0i4 ; cost of road, &c.,$1,200,000.
Mi.'^'i'ii'ipin. OiiaehUa it Jled TJSrvr.—Land grant9.57 IkK) acres. Sold in forecio-nre, t)ec. 16, 1875,for m> 000. (V. '21), p. 40.); V. 21, p. 535, liW.)
Missixsippi (ft yWini-MWi —Stock, $825,400. Netearnings 1H74-5, $211. :j32. V. 22, p. 181.
Missouri, Kan-^a-i di 7f.r^.s\—
'i'lii.^ riwid was buiid-'in::: under most favorable auspices anil showed goodearnings, but in Decendiev, 1*13, passed interest.A compromise witli hondiiolders has been jicnding-and will piobably be eHected. (V. 21. p. 137.)Receiver was appointed, December, 1874. Landgrant is about 4,505,142 acres. Last report and de-tails of det»t in Ctmosici.E, V. 1ft, p. 29. (V. '20.
p. 10, 141, .501; V. 21, p. 87, lb'6, 207, J53, 395; V. 2'2,
p. Ill, l.^S.)
Missouri Hiver, Fort Scolt &. Oiilf.—Tho stock is$5,950,001). Interest p.aiiscd Oct , 1S7?, on 2d, andJan., '74. on Ist in't:,'s.-Netincomeof 1871. $.301, 71'J.
t.'onpons of .liiiiu.ary, IW, paid Juiv, '75. one luilfcash aiid one-lialt in mos. notes, 'v. 20, p. 403;
'
V. 2rp. 1.5.)
mhile ift Oirard.—Thc Central Railroad of Geor-gia endorses *2ia,500 of the flist and all the second•mortgage bonds. Not earnings 1874-5, $22,685.
IWarch 25, 1876.] BAIIiBOAD STO0K8 AND BONDS. xxm
Sabacriber* will confer a ureat fkvor by clvInK Immediate notice or anr error dIeeoTered la theee TaUea.DKSCBIITION.
For explanation of oolunin lieadlnirs, &o., see notesat tlio head of Itrst page ol tablei.
MiloBof
Road.
Dateof
Bonds.
SIza, orI*ar
Value.
AmountOutatwidljiK
_INTKREeT OR DIVIDENDS. Jtotult—friuel-
r. . n.. -..^ iiml, Wlien Due.Bate per When Where Pavable, and by gtoelu—lMMCent. Payable Wnom. OiTidead
N. O.. Mob. it 7'ej-.—1st mortgage (Mob. to N. O.) ...New Orleans, St. Louis it C7nc.~Cunsulid. stockNew i-uusulidatcd mortgage (fur $2.5,000,000)Cuusolidatfd Ist mort., gold (N. O., J. &«. N.)...1st mortgage, do do ...
2d iiiurtnagc, do do ...("unsulidaicd mortgage (MiSBlssippi Central)Isl iiiurtgagc, (to2d iiiurlgagc, doTiuiiissce .state Lo<in do1 ucuiiic and ciiuipment mortgage2d mort gage scrip
N. 1'., liosion I& Montreal—1st mortgage, goldN. Y. it Cnniula-Xiit M., sterling, guar. D.& H. Can.New York Venlralct Hmlson Hirer—StockPi-cniium bonds (N. Y., Conti'al)Bonds for debts assumed dodo 1$. AN. Kstuckboldors do
Bonds railroiwl stock dodo ixjal estate do
Bonds convertible till 1869(N. Y. Central)Renewal lionds2d mortgage, sinking fund (Hudson River)Coupon bouds 1S71 (not iiiurtgage)
' $30,ooo.oo(> X coupon or regis-ii2.000,0(H> J tored.
Mobile tt Monlioineru.—SoM in foreclosure, No-veiul)er, 1874, and stuck given to old bondholders.Old iiiortijage debt yet out, t2«3,000. (V. 2(1, p. 82,
501; V. 22, p. aSOJMo'Me (ft Ohio.—Thu company hss been in default
since March, 1875. A full account of its affairs, withanniiul report for 1S74 is hi V. 20, p. 452; laterstatement, V. 2'., p. 605, W. H. Duncan and A. F"Klliot are Ilccoivers. (V.ao, p. 353, 4.M, .'iOl, 571; V.21, p. OOi: V. 22. p. 158.)
Montrlair.' The 2d mortgage was foreclosed De-cember, 1814, and road sold again Sept. 35, 1875.
(V. 20, p. 10, 290,333, 4 88, 501, 571; V. 21, p. 186,
278. .323, 395.)Montgonuiry <ft ^(//a«ia.—Interest Has oecn in de-
fault since January, 1873. It Is one of the State aidroads, and advertised for sale Dec. G, 137^. (\'. 21,
p. 489.)
Monliedlo & nrl 7i!jvis.—Defaulted in 1873. SoldJuly 7, 1876. (V. 1!), p. 39, 143, 503; V. SO, p. 35S,3»): V. ai, p. 39, 592.)
Morris &. Esuex.—Leased in perpetuity to theDolawar.% Lackawanna ifc Western. The lesseesassume nil liabilities and i>ay 7 iwr cent on stock,and 8 after 1874, if they then earn 10 net on Morris& Essex road. (V. 2(1, p. 85, 477, 48 8.)NashvlUe, dhatlanooqa <fe 81. /jOnis.—Oroefi earn-
ings of 1874-5, j;l,6.0.A26; expenses, if 1, 151,9r>l; netcaruings, |;:.28,(fll. In six months ending Dec. 81,1875, net earnings were $391,120. (V. 21, p. 3T0;V. 82, p. 1(,9, IHI.)
NashvUle <t Decali'r.-I.eni'ed May 4, H71, to Lon-iavUle & Nashville Company for thirty years.
Nashua it Lowell.—Hci earnings in 1874-5, $56,464.(V. 21, p. 590.)
iftraoofi/dt,— Net earnings 1874-5, t922,.32?. (V.Sl.n.ull.)Newark, Somerset ife Straitsi^Uls.—Leased to San-
dusky, Mausfleld & Newark. Guaranteed by Balti-more & Ohio.New B«</br(i. —Tills road is leased and opeiated
by the Boston, CIintt>n & Fitchburg for 8 percenton stock and interust on detit.
New VasUe <6 2isai\r KuBfy.—Leased to Pitts-
burgh, Fort Wayne & Chicago, and lease transferred,
to Pennsylvauia Company. (V. 20, p. 425.)JVew Haven <6 Derbj/—'Sct earnings 1873-1, $24,832.
New Haven city guarantees $225,000 of the bonds.
New Haven & Northampton.—Gross earnings,1871-5, $595,lh4; operating expenses, $399,250; netearnings, $196,913. (V. 21, p. 590.)New Jersey <fc New yort.—This was a consolida
tion of the Ilackensack & N. York and IlackensackBxtensioii, and further built to Haverstraw. Theold bunds are about $300,000, 7 p. c, due May, 1890.
(V. 20. 1). 488.)
New Jersey Jfid/amf.—Defaulted after the panic of1873 and funded coupons. The company, luringexhausted its capital and credit in construction,leased to the New York Midland for 7 per cent onits cost ; it had at the time a floating debt of about$400,000. After the panic of 1873 tlie road camel>ack without sutHcient rolling stock and withoutmcaus to pay interest. The bondholders fundwlctHipons, but default was again made. Severalplans of re-organization are proposed. (V. 20, p. 24"2,
•258, 313, 358, 488; V. 21, p. .39, 64, 86, »:», 348, .TO5,
442, 48B, 489; V. 28, p. 87, 1:15.)
NrW Jersey .Southern..— IlIxX^ was a consolidation ofseveral roads, and leased the Vlneland, Maryland &Delaware, and Kent County roads. Interost in de-fault fince October, 187.i. Litigation in progress.Comprehensive plan of re-organization, V. 21. p. 46H.
(V.19,p.399; V.ao, p.313. 488; V. 21, p. 406, 489.)New Jersey Wesl Line.—In foreclosure. (V. 19,
p. 640; V. 2i), p. .38;).)
New London Norlhern.—Operiitei\ under lease till
1891 by Vermont Central for $1.50,000 a year. In-come of Co., in lb74-.'i, $151,975; disbursements,$14-3,973. (V. 21,1). .'.90
j_Nei€ Orleans, Mobile <* r^fw.—The Western Di-
vision of this road was sold Nov. 18, 1874. Interestin default since 1872. Tlie trUHiees' ciron'ar for re-
organization of Western Division is given in V. 21,
p. 281. (V. 21, p. 2:11, .'135: V. 22, p. 2i.3.)
New Orleans, St,L»uis tfc tjhfcago. —Gross earningsyear ending June 30, 1875, $3,184,:«G; net, $1,303,943.
See annual report, V. 22, p. 1B6. Operated as a con-necting line with HI. Cent. Bl. Central bays up$200,000 per year of consol. mortgage huniis of 1878.Tho Miss. Cent. Ist raort. bonds, due Nov., IS74, werenot all paid, and Nov. 1, 1875. and Jan., 1.^76, therewas some delay in paynieitt of interest. Floatingdebt June 30, 1875, $1,929,037. Receiver appointedMarch, 1870. I.V. 21, p. 15, 613; V. 22, p. 68, III,
156,281.)
New Yorl-, Boston tft .Von/real.—Vropotnnl consoli-dation of several roads from New York to Rutland.Com[iany defaulted In 1874 and now in hands ofreceiver; foreclosure iiendiiig. (V. 30, p. ISO, 358,383, 405; V. 21, p. 16, 319.)
New York it C(inO(/a. —The houds are gi.arttnteedby the Delaware & Hudson Canal Co. Road openedthrough Oct., 1875. (V. 21, p. 207.)
New York Central cfc Hudson ffirer —Tlie con-solidation of New York Central and Hudson Rivetwas made Nov. 1, 1«(.9. In l,s«8 the stock of thaseparate comiinnies was $42,712,700. The scrip divi-
dend oil New York Central of 80 i>er cent was madeill Dec, 1808. On consolidation, another 27i>ercenlwas distiibnted 011 Central stuck and t5 per cent onHudson. The mortgage loan for $IO.<»H1,000 Is toretire prior debt, and the balance fur laying thirdand fourth track aiwd other iiiipruvenu.n'i.s. Thesetracks were nearly completed from Ituiraluto.MbauyJan. 1 ,1875, thus funiistiiiig a doulile track road exclusivoly for fi-oight traAic. The llarleiu liailroad
was leased A|)ril, 1873. The following is a compari-son of operations, Ac, for live years
Snbacribers -nrlll confer a creat tmvor hy kItIiis Immediate notice or any error diacovered In tbeae Tables.
DESCRIPTION.
For ezplau&tlou of oolumn beadiu;;^, &c., see notesat the head of first page uf tables.
New York rf floW«m—Common stockPreferred stockCousol. mort., couj). or reg. <for $12,000,000)...8hikiii^ fund
N. Y. Ilousulonie <t Xortliern—lut mortgagey. Y. Khujsi. d- Sura.—Xit m.,K'A ($4,000,000)....A', r. -t Neio Knijland (Boat., Hart/, it JSri*)—Stock1st mortgagee, old
Wen? York, Nem Haven, tt Uarl/aril—StocVHarlem & Portchester, Ist mortgage guaranteed
N. Y. if Osweyo Midtaml—lat mortgage, gold2d nun-tguge, couvertlble2d mortgage, uou-couvertlble3d mortgage, eniiipmeutIst mortgage, Western extensionCouHolidated mortgage
North Curolina—Stook, commonPreferred stockMortgage bonds
Nortlieaslern (S. 0.)—Stock, commonPref. stock (8 per cent) exchangeable for 2d mort,Ist mortgage, new2d mortgage, new
North Pennsyhania—Stock1st mortgageChattel mortgage2d mortgageGeneral mortgage bonds
Northern Central—Stock1st mortgage. State (Maryland) loan2d mortgage, sinking fund, coupon3d mortgage, sinking fund, coupou3d mortgage, Y. & C. RR. (guaranteed by Bait.)
.
Consolidated mortgage, gold, coupondo do do registered
Income convertible bonds, coupouIncome bonds for roads purchased, couponCousol. mortgage, gold, s. fund, couiJf .$ or £Mortgage bonds (exch. for Incomes of of '72)
Nortlicrn, N. if.—StockNorthern of New Jersey—Stock
1st mortgage.Northern Paei)ie~'lst mortgage, gold, laud grantNorwich it Worceslei—Stock »
Ist mortgage, 8tat«loan. sinkug fund2d mortgage t.
Ogdensburg it Lake Ohamptaln—Htoc^Preferred stockEquipment bondsSinking fund bonds i .
.
Ohio it itississlppi—Stock, commonPreferred stock (7 p. c. yearly, cumulative)Income aiul funiled debt bondsIst coustolUlatcil mort. (.$3,517,000 are 8. f.)
Coi-8olidatc(l mortgage, sterling2d consolidated sinking fund mortgageDebenture sinking fund bonds (tor $1,000,000) . .
.
Spring.. Uiv. (Sp.&Ill. SE.) Ist M. (for $3,000,000)Oil Oreeliit Allegheny Itivei—1st mort.(W. & F.RR.)1st mortgage (Oil Creek RK.)1st mortgage (Uu. & Titusville RK.)New mortgage, (Pitts. T. & B.)
Old Colony—StotskBonds . .
*.
BondsBondsBondsBonds
Omaha it Northwestern—Land grant gold bonds. ..
Orange, it Newark—Xat mortgageOregon it California—l.st mortgageOswego it Rome~'\»t mortgage guaranteedIncome mortgage bonds
Oswego it Syracuse—Stovk, 9 per cent guarMortgage bonds
New York <4 i7«»to«.—Gross earnings 1873-4,$3,856,525; operating expenses. $1,719,384; netearnings, fl,l.)",141. Leased to New York Centralat 8 per cent per annum (payable J. & J. ) on stock,and interest on bonds. The Fourth avenue horse-railroad and roal estate was retained. The extradividend April, 1676, was from prollts of city line.
New York, Homafcruc £ .Vor<A«)'n.—Foreclosurepending. (V. 21, p. .11!).)
New York, King'ton Jt SwociM*. —Includes oldRondout & Oswego Sold m foreclo.snre Mav J.
1375, fo.r $750,800. (V. 19, p. 360, 533; V. 20, p.W314, 45!, 015; V. 21, p. 100.)
•i-
,
New York dt New Enqland.—ThH was formerlyBo.ston Ilartf. & Erie. Thd road was opeiated bythe trasteea of the Berdell mortgage for severalyears and conveyed to the new company iu July,1875. Gross earnings (iu Mass.), 1871-l>, '$910,178
;
net. $137,106. (V. 20, p. 289, 836, 6!4; V. 21, p. 31807, 533, 510.)
.I
.
Nem York, New Haven <t Hartford.—TSe:\. incomeapplicable to dividends In 1874-5, $1,699,930, against$l,6r8,i.)0 in 1873-1. (V. 20, p. 6i; V. 2.', p. 16.)
New York ,6 Omtego Midland.—Inleteai in de-fault since 1873. Itcceivers' certillcates have beenissaed, and the Hoatiiig debt, Sept. 30, 1874. was $6,-314.829. Uellcit on operations, year l8r3-4, $286,382.Latest fandiu^ plan V. 21, p. 278. (V.. l!i, p 62240, 351, 610; V. 20, p. 63, 312, 266, 313, 501, 522; YSI, p. 40,64 186.)
New York, Providence <fe 7?o(i!on.—Annual reportfor flscal year ending Sept. 1, 187,5, siiowed net earn-ings $408,511, leaving a surplns of $73,711 above in-terest and dividend payments. Full report V. 21,p. 464.
North Carolina.- Leased September, 1871, to Rich-mond ft Danville Railroad at $8«a,000 per annum.In March, 1875, the gaujje was changed. Dividendsof 6 per cent, are paid oa stock, of which the State
of North Curobna holds $3,000,000. (Vol. 16, p. 653;V. 17, p. 155, 218; V. 20, p. 267; V. 20. p. 39 1.)
Northeastern, S. C—.\nnaal re ort for 1874-5 inV. 20, p. 49 i». Gross earnings, $416,956; net,$17,5,441.
North Penmylvania.—Gro»srac(i\\}ts in year 1874-5$1,417,734; net, $.jl2,19i; surplus above interest.'$160,527. Stock held by Philailelpbia city was soldFebruary, 1875. (V. 20, p. 2;!I, 403; V. 23, p. 134.)
Northern Central.—T .le annaal report for 1875 inOnnoNicLE, V, 22, p. 278. sliows gross earnings,$1,926,247; expenses. S3,!i.2,123; net. $1,564,124.The total net income was 8l.70fl,6;)9. of which$1,247,176 was paid for interest and rentals. leavingnet Income, $4.59,463, equal to 7 86-10 1 per centupon the capital stock of tlie company. The reportfor 1874 showed gross earnings of $4,670,500; ex-penses, *3,.'i83.553; net earnings, $1,292,916. (Vol. 18,
p. 376, 512, 584; V. 19, p. 617; V. 20, p. 267,336,3 55; V.,22, p. 257.)
Northern New Hampshire.—"Set income flscalyear 1874-5 was $I93,89J. (V. 20, p. 499.)
Northern of New .7«rs«y.—Operated by Erie at ;Bper cent of gross earnings, which in 1-74 were $295,-0.T4. Dividends of 4 per cent a y^ar have beenpaid. (V. 20, p. 488.)
Northern Pacific.—'^nM Ang. 12. 1S7.5, for $100,000and pref. stock is issued to bondholders at the rateof $1.4 K) for each $1,000 bond, and this inclifdes theinterest funded to July, 1878. This stock is ex-changeable for land at its par value. (V. SI, p. 15,78, 137, 100, S31, 323, 372; V. 22, p. 135, 159, 209.)
Norwich <t Worcesto'.—Leased February, 1309. toBoston, Hartford & Erie for 100 years at 10 per centper annum on cost. Dividends paid of 10 per centper annum. Gross receipts iu 1874-5, $729,440; net,$294,997. (V. 21, p. 590.)Ogdensburg it Like CAoffip?rti«.—Leased in March,
1870, for twenty years to the Vermont Central for in-
terest on bonds, 8 per cent on preferred stock and oncommon 6 per cent for three years, 7 for the nextthree, and 8 for the next fourteen years.
Ohio & Mississippi.—An abstract of the annualreport to ,Tune 30 was given in V. 3!,p. 322 and464, The following comparison is for three years:
The companv purchased the Springfield & IllinoisSoutheastern Road March, 1875, for «i,OIX),000 inbonds secured on the Sp. ,&I. S. road, and with privil-
ege of funding coupons to Nov., 1877; of the samemortgage bonds $1,000,000 were reserved, the pro-ceeds to be used for improvements. Since electionof directors Oct. 14, "75, the Bait. & O. interests aremore largely represented in the board. (V. 20, p.235. 267, 290, 291, 477, 491 ; V. 21, p. 269, 822, .372, 396;V. 22, p. 111.)
OU Creek iSb Allegheny River.—Sold in foreclosureconsol. mortgage, Dec. 29, 1S75, for $10 ],000. Neworganization made Jan., 1876, as Pitts. Tilusv. &Buff. Hit. (V. 21, p. 40, 302; V. 22, p. 16, 135, 2T9.)
Old Co'ony.—There are $-32,000 5 per cent bondsdue 1884. Total earnings in 1874-5, $2,286,473; ex-penses, $1,443,135; net, $7«,729. (V. 21, p. 533.)
Omaha it Northwest.—PAseed interest 1874. Somebonds and coup's exchanged for lands. (V. 22, p. 79.)
Oregon cfc California.—Bonda nearly all placed inGermany. After default in 1873, projiositiou offeredby Ben. IlolUday, President. (See V. 19, p. 480.)
Oswego <fi Hom«—Operated by the Rome, Water-to\vn & Ogdensburg at 8 per cent on $30J,000 stockand interest on flrst mortgage bonds.
Oswego d: Syracuse.—heaaed to Del. Lack. & West,for interest on bonds and 9 per cent on stock.
March 25, 1876.] RAlLROiJ) STOCKS AND BONDS.
Anbacrlbera will eonflir a great tfcTor by kIvIiik lmm«al«te notlee ol any error dl««aT«r«d la ikf>M Tab ••.
tkmdiDE8CKIPTION.
For exiilanatlon of column beadiiiKH, &e., ace notesat the hood of first page of tables.
Owensboro tt RaesellvUU—1st mortgagePaciflr nf .lft**(>«ri—stockiKt uiortgiiKc, Kold2il nuirtKHKf (sinking fund $50,000 per annum).Rial <wfi»tB (dipof) bondsDebt til St. Louis County (no bonds)Iiicoiun bonds, (Kuan>iite.t;d Atlantic & Factflc) .
3d niorlKiigcCaroiiili-let Branch, Ist mortgage.Lex. & St. Louis branch, Ist mort., gold, guar,
do do 2d niortgiigeLeavenworth, Atch. & N. W., 1st mort., guar
Philarielph ia it jBrie—Stock, commonPreferred stock1st mortgage, Sunbury & Erie1st mortgage2d mortgage '
2d mort., gold (for $20,000,000), guar by P. R.
.
Phitiulelphia i£ Reading—Stock, commonPreferred stockMortgiuje lo.ans inconvertibleLoan mortgage, convertibledo do sterlingdo do do
East Pennsylvania Ist mort., sinking fundIjoau mortgage, sterlingI>»au deheiitiu'eIjoau mortgageConsolidated mort., dollar loan, coupon or reg.
.
do do gold, dollar or sterlingdo do dollar loan, gold,coup. or reg
Debenture loan (convertible 1 H7(i-it2)
Improvem't moi^. (dollar or sterling) siiik'g fund.Gen. mort., .$ and £ (.^ink. fund 1 p. c. yearly)Coal * Iron Co.. guar. mort. (for $;i0,()00,000) . .
Pw'fic f Jfiwoxr!.—Road was leased July, 1818. toAtlantic & Pacific Railroad and dividends guar-anteed. In Sept. and Oct., 1875, the price of stockf«ll from 47^ to 7H, the principal canses beinga decrease of $(i{*3 996 in earnings since .lannary 1;Ihe failure of A. & P. to pay the Octol>er dividendadvertised, and the fact that the road was so heavilyloaded with debt to A. A P. Co. The lease wassnrrendered Nov., 1875, and litigation is pendins.Interest ou 3d mortgage and on Lexington A StLouis in default, December, IKth. (V. 80, p. 888,4(9, 598; V. 81, p. 40. mi. 396, 412, 418, 466, 4 9, 585,571, 598; V. •«, p. 10, 182.)
Padvcih A Jffimp^i^.—Foreclosure proceedingscommenced, but compromise afterward reported.(V.81, p. 110; V. 28. p. 88.1.)
Panama.—\ steanishin line proposed; see basis,V. 81
, p. 4S9. (V. 20, p. 358; V. 21, p. 807, 831 ; V. 32,p. 88, 833, 247.)
Parin & Z>ant>U2r.—Foreclosare in progress. (V.Sl.p. 186, a»7.)
-
Pari* <* Decatur.—Consolidation. Now IllinoisMidland. (V. 19, p. 351; V. 21, p. 613.)
Paterton <t A«iearjl:.—Lately operated by Krie.Stock la t29a,(XI0.
ftWn, Lincoln <4 Z>««<«r.—Leased to Toledo,Wabash A Western. To be sold in foreclosureApril 21, W.n. (V. 22, p. 847.)
i^inin*u/ar.—There is also a second mortgage for*54e,ono. UefaultedMay 1, 1872. Coupons unfunded.Censol. with I't. Huron A L. M. July. 187:1. W. LBancroft. Receiver. ("V. 17, p. 155, (>50, 768.)
Hnnfylvania.—The report for 1875 is given in V.28, p. 253. In May, 187.'), the dividend was changedto the rate of 8 per cent per annum. The directfunded debt of ttie comiany is $.y),i)00,000 ; in 1874the liability as a guarantor of principal and interestwas on $88,988,600 bonds; annual liability addl-
'
tional on guarantees of Interesi or rentals, $18,862,319.On all operations east nf Pittsbnrg, in 1875, the reportshows a net surplus of $1, (IS). 1129 over all payments,including dividends. The following is a comparisonfor fiiur years on main line and branches in Penn-sylvania
Gro B Net Total StockEarnings. Earnings. and Debt.
The Pennsylvania Company is a corporation dis-tinct from the Pennsylvania Railroad, formed tooperate all the leased lme» west of Pittsburg. Thestock is owned by the Penn. RR In 1S74 the opera-tions showed net profit of ^814.8:18, includinir receiptsfrom the Company's investments, A very completeexhibit of the operations ami financial condition ofall its leased roads was published in V. 20, n. 42S,Ac. (V. 18, p. 19J, 285, I'm, .-KM, S.M, (^80; V. 19, p.377, 471, 504; V. 80, n, 16, 8li. 267, 31i,4M; V, 21, p,130, 361, 458, 598; VT 28, p. 263.)Pennmlvania <t D«(a7OTrc—The lease of this road
to the Peimsylvania Railroad was ratified in 1874.Previously operated under temporary lease.
Fennmtvanii d yew Kor*.—Operated In closeconnection with the Lehigh Valley. Net earnings1873, *448,.361. Dividend of 7'^ percent p:iid onprc-ferred stock, $2,000,000; common stock is $1,061,700.
Peoria <t Bureiv Ka//g/.—leased perpetually toChicago, Rock Island A Pa. iflc at $185,001 per year.
Peorii, Pekm <t Jacknonci le. -la je»i endingJane ,30, 1874, net earnings, $80,2«;.
Paorla <t Jtoci/rianrf.—In hands of receiver. De-faulted in 1874. There are old 10 per cent bonds of$150,000. (V. 20. p. 141, 616; V. 9^ p. 1159. 319, .V»:V. 82. p. 66.)
P«r*fe>mffl.--Ijeased to Philadelphia * Reading.
P«<er.«J«rp'.—Gross eaminss 1874. $240,145; net$10.3,373 (Vol. 19, p. 351; V. SO, p. 692; V. 81, p.64, 872; V. 2>, p. 18S.)
Philadelphia <t Baltimore CSm'ro/.—Operated forsome time past, in Pennsylvania by trustees of first
mortgage bondholders. Phil., Wil. A Halt, largelyinterested.
Philadelphia * Erie. -Leased Febmary. 1882. for999 years to Penn. Railroad, but without any rnarantec of bonds. Gross earnings. 1875, $S.8«(CW7;net eaminffs. $1,1?7.4:8. The Penn. Railroad is
creditor $2S4,844. (V. 20, p. 8, 243; V. 22, p. 2< 6.)
Philadelphia rf /?/"irfi?w;.—The net earnings of mainand branch lines in 1874-5. were $4.5:10.768, against$5,7ao,'M5 in 1873- , and 5,157,766 in 1872 :-. Incomefrom other sources. $8,311, 89, against $',851,67o in
1873-4. The trustees of the general mortgage holdthe mortgage of the Coal & Iron Co. A comparisonof statistics for three years is as follows:
Net earnings .... IS.iBl.Tfie $5,720,205 $4,530,768Inc. other sources 1.065. 116 l,3M.t!70 •,341.889
Funded debt 44,1*1,716 68,1.%5,13S 57,184.111
—(V. 19. p. 17, 32. 51, 358, 480; V. 40, p. 358; V. 91,
p. 45H; V. 22 p. 109.)
Philadelphia it Tre^lon Leased to Pennsy vaniaRailroad with United New Jersey companies at 10per cent on sto<'.k.
PhU'de'phia, fermantawn tt .Vorrintowi*.-Leasedfor 999 years to Phdadelphia A Reading at U percent, on stock.
Phtlade'pUa. tniminoton * Sa/rtmor».—Net earn-ings, year ending Oct. 81. 1875. $I.S40..»), leaving asmall surplus of Income abitve payment of 8 percent dividends. Last annual report in V id. p.IS«.Pltttttmrq, t~inciniwH <t fit I«t*t«.—This com-
pany leases several roads and Is itself controlled bythe Pennsylvania Company, which holds a majorityof the capital stock. Annual report V 21, p. 13.(V. i«, p. SB! «», 426, 491.)
ZXYl BAILROAD STOCKS AND BONPS. [March 25, 1876.
Sabserlber* irlll confer a creat tairor bjr kItIok tminedlate notice ot any error discovered In ttaeae Tables.
DESCRIPTION.
Hor explnuatl(Ui of column h«H(linK8, Ac, see notesat the hewl of first page of tables.
PilltbHrn, fY. Wayne A C*«o«(;o—Stock, piar.Special Improvement stock, guaranteed
—
1st mortgHge (scries A)
Milesof
Koad.
Dateof
Bonds
1st1st1st1stIst2(1
2d3d2d2d2d3d
&•dododododododododododo
dododododododododododo
I?
^ O IS
no« UU i^^Plttsbtirp, Ft. Wayne & tlnn. construction bondsKqnlpnicnt Iwnds (renewed)
PilUb., Vrt. <£• f'AaWcK(on— Ist niortgage, goldPiltiib. rf ConnellitHlIe.—1st mortgage
Ist do Turtle Crook divisionConsol. mortgage, (guar. B. & O.)
Plymmilh, Kmik. <C i'nc—Ist m. ($3,600,0(X))
Port liiiron d! L. Mich.— lift mort., traf. guarPortland <t Ogilensb.—Xat mort., E. D., goldNew mortgage (for $3,300,000)1st mortgage, Vermont Div., gold
FoHI. rf Knchester—li^t mort., s. f . (Portl. loan)Ist mortgage, equal lien2d do (Portland loan) sinking fund
Porlland, Saeo <t Portsmouth—StociiPort Royal {S. (7.)—1st mortgage, convertible, gold.Portsmouth, Gt. Fulls <t Vonway—StockBimds (not mort.) gimrantccd by Eastern RK
Providence <t Worcesta—StockMortgage Itonds
Reading it ro?H»i6ia—Ist mortgage, coupon2d innrtgago, coiiiM)n
Richmond tt Dan tille—StockState sinking ftmd loanBonds, guaranteed by StateConsolidated mortgage, coupon or registeredNew general mort., gold (for $6,000,000)Piedmont l)rancli, 1st mortgageNorMiwestcn), N. C, Ist mort., guar
Rich'd, tredericksburff <t Po(om«c—Bonds, ster
—
Dollar loanCoupon bonds of 1881
Richmond A Petersburg—1st mortgage coupon...New mortgage
Rockford, Rock I. <t St. Louis—lut mort., goldRome, Waterlown i£ Ogdensbitrg—Stock1st sinking fund mort., Wat. & RGeneiai mortgage, sinking fund2d mortgageConsol. mort., convert, till July, '79, coup
Si. Joseph it Denrer City—Ist m. gold, E. divIst mortgage. Western division, land grant
St. Louis, Alton <f: Terre H«»(f—StockPreferred stock (7 per cent yearly, cumulative)
.
1 St mortgage (series A) sinking fundIst mortgage (series B) sinking fund2d nuirtgage, preferred (senes C)2d mortgage, preferred (series D)2d mortgage. IncomeEquipment mortgage
St. Louis, Iron Mountain <t Southern—Stock1st mortgage, coupon2d mortgage, gold, coupon, maybe registeredCons. M. gold (s. f. after 1880), coup., maybe rcg.Arkansas Branch, 1st mortgage, gold, land grantCairo, Ark. & Texas, 1st mort., gold, coup, or reg.Cairo & Fidton, 1st mort.. gold, on road and land.
Pittsburg, Fort Wayne if; CAicajyo.—This companyhaving previonsly earned a surplu:> above 10 per centdividends, w«8 leased July 186). for 9!)9 years, toPennsylvaiiia Railroad, at a rental equivalent to in-
terest, sinking fnnd of debt, and 7 per cent on $i!%-714,230 stock, whi' h wa.** increased at that time fr«n$1 1,500.000. The lease was transferred subsequentlyto the Pennsylvania Company. The lessees to keepthe road in repair, and also pay taxes, expenses,etc. Pittsburg, Fort Wayne & Chicago leases theNewcastle & Beaver Valley and the Lawrence roads;which in turn are leased again by Pennsylvania Com-pany. New stock of $4,100,000 issued to Penn-sylvania Railroad for improvements, Ac, is underarticle IG of lease; guaranty on old stock notaflFcctcd. Net earnings have paid lessees thus far ahandsome profit. (V. 18, p. 45.'), 630; V. 20, p. 485.)FlUshurg Ttrifinia <t Charleston.—Ot these bonds
the Peunsylvania Railroad owns $500,000.
Piltab'irg WmMiiglon. * Baltimore.—T^s was for-merly Pittsburg & Connellsvillc. Interest was indefault to city of Baltimore, which owned a largeamount of the bonds, and a transfer was made Mav,1875, to Baltimore & Ohio RR. for $1,000,000. (V.18, p. 5J8; V. 19, p. 17; V. 20, p. 291, M6; V. 21, p.161 .)
Plymouth, Kankakee <6 Paajie.—\n foreclosure.Of. is, p. 120; V. 20, p. ,314, 491; T. 21, p. 372.)
Port Huron <t iMke Michigan—This forms part ofthe Chirago & Lake Huron consolidation, witn Pen,msolar of Michigan. Interest was in default Nov..1878, and coupons funded for three years. (V. 18, pi192, S63, 376, 455, 608; V. 20, p. 357.)
Portland rft Ogdenslmrg.—The two d visions wereconsolidated March 1875 as one company, and amortgage of $8,000,000 on whole line is proposed.In March. 1876. Co. passed the interest on Portlandcity bonds. (V. 80, p. 291, 358, 453; V. 21. p. 130,3»«, 6i:i; V. 'A p. 182.)
Portland <* Rochester-Th\6 is the old York & Cum-berland sold out in 18(i5. Net caruings year endingAugust 31, 1874, $47,288.
Portland, Sam <k Poiismoulh—Leased March 18,
1871, to Eastern Mass. Railroad for 99 vcars at 10per cent per annum; modified Dec, 1875. to 6 percent for two years. (V. 21, p. 372, 434, 592.)
Port Royal.—The Georgia Railroad guarantees$500,000 of these bonds; balance in default. (V. 80,II. 291, 453; V. 21, p. 78.)
Portsmouth, Great Falls A Oonway.—OwneA in1872, and is leased by Eastern Railroad, Massachu-setts.
Pnnidence <fc Worcester.—'^et earnings year end-ing Septi'mber 30, 1S75, $230,278; floating debt,$1,370,UJ0. (V. 21, p. 590.)
Reading cfc Volnmbia.—This road is operated andcontrolled by the Philadelphia A Reading Railroad.Floating debt, $,093,494.
Reading & isAtyA.—This was the Berks Countyroad ; sold out, and icised to Philadelphia A Read-ing, March, 1875, for 99 years. (V. 3J, p. 63, 267.)
Rensselaer db Saratoga.—Lcsisei May 1, 1871, toDelaware & Hudson Canal Company, which pays in-
terest on bonds and 8 per cent on stock. In 1872-3the net surplus t« lessee was $201,597. (V. 20, p. S«.)
Richmond & Danville.—Grom earnings 1874-5,
$923,05; ; net, .$333,447. This company leases theNorth Carolina Railroad and the Piedmont Railroad,and forms a through route with the Atlanta A Rich-mond Air-Line. 'Fhe Penn. Railroad owned $600,000stock of the Richmond A DaavUle, and took $1,000,-
000 of the new bonds at 80. (V. 20, p. 8, 291, 568;V. 21, p. 614; V. 28, p. 180.)
Richmond, Fredericksburg <S Potomac. — Grossearnings, $.382,298; expenses, (180,049; net earnings,$202,81S. (V, 21, p. 6ia.)
Richmond dk Petersburg.—Qrosa earnings year•uding Sept. 30, 1875, $164,9*5; net, $78,251. Bondsdne and not presented, $99,500; bonds paid off,
$50,500. (V. 22, p. 16.)
- Rockford, Rock Inland * St. Zorrf*.-Sold in fore-
closure August 16, 1875. for $I,.320,000. $5,000,000 of
the bonds have a priority. Distribution after sale, V22, p. 135. (V. 21, p. 87, 110, 160, 186, 807, 831, 245,
319, 396, 4,58, 489; V. 22, p. 135, 182.)
Some, Waterlown tt Ogdensbiirg —The last report,
in V. 80, p. 3 1 1 , shows gross earninrrs in 18i4 ol
1,138.868; expenses, $770,856; net earnings, $:368,611.
Againi<t the bonded debt th« company holds $617,183
in sinking funds. The Lake Ontario Shore Roadhas been conjolirtated with the Home, Watertown AJOgdensburg, and is in progress to Niagara. (V. 19Jp. 169; V. 20, p. 8, 163, 31 1 ; V. 21, p. 442).
'
Rutland.—U-Af/iA January, 1871, to the VermmtCentral. Terms modified in July, 1874. D«fault|made on rental, and lease again modified. (V. 19, p^180; V. 20, p. 186; V. 21, p 18R, 490; V. 82, p 809.K
81. .Joseph cfc Denver OUy.—The road was sold In
foreclosure Nov. 4 and 5, 1875. (V. 19, p. 40, 5f8;
V. 31, p. 40, 418, 442, ,505; V. 88, p. 234.)
St. Louis, Alton <fc Terre //a«/«.—The main line—Terre HSute to E, St. Louis—was leased June, 1867,
for 90 years, to Indianapolis A St. Louis at 30 per
cent of gross earnings up to $2,000,000 (but in n«year to be less than $450,0001. In 1874 gross earnr
ings were $1,2&4,136, against $1,318,658 m 1873, la1872 the company paid three years' dividends onpreferred stock in the same, increasing said stock ky$428,408. The Belleville Branch, and Belleville &Southern Illinois (leased) earned net in 1S74, $269,661(V. 18, p. 584, 608; V. 20, p. 380, 546, 571 ; V. 81, f.
64.)
St. Louis, Iron Motinlain <ft So\Mem.—Omaeaminas, 1875, $3,808,941; net. $1,613,98:*. Con-solidation was made in 1874 with Cairo A Fnltonand Cairo, Arkansas A Texas. In March. 1875, the
company issued a funding circular, jiroposing to
fund three coupons on all bonds except the old firsts.
(V. 19, p. 144; V. 80,p »»4, 616; V. 81, p. 614; V. 22
p. 209.)
March 25, 1876.] EAILROAD STOCKS AND BONDS. XXTU:^«= =??=
Sobsoribera will confer a creat tevor hj ctvlnc Imiiiadiate notice or anjr error dUcoirered la theae Table*.
DESCRIPTION.
For explanation of oolumn headlnee, Ac, see notesat tbe bead of flrat page of tables.
at. L., Kannu City A iV.-Stock ($12,000,000 pref.)l«t raortKHKB (North MIsRouri)E«al estate aurt railway mort. (for $3,000,000)..
St. Louu, Lmerenee rf iJenrer—Ist mort., goldSt. Louis <« Smilheustfru—lHt ni., Rold, conv. s. fundCnnsoliilnted iiioitKHKe, gold, sinklnx fundKviiiiHvllIt', llcndrrKoii & NjiHlivllle, Ist mort
St. Louis, Yumlalia if Terrr. Uiiule—lnt m. s. f. KUar.2d mort., nliik. f., ifuai: ($1,000,000 con. not guar)Inoonie IkiikIh
St. rani !<:• /'(iri/?c—Brancb, Istmort., on 10 miles..1st uiortKaKe, St. Paul to Sank Rapids, 80 miles..2d mort. on HOni.and Iston 1. Kr. of 307,200 acrs.1st mort.. West or malu line, land grant2d mort.. West or main Hue, laud grantIst mort, St. Paul & Paciflo land grant
St. Paul <t Sioux (Jity—Prvt, stock, various issues..Stock
Sacramento Valteu, (C'al.)—lst mortgageSanilHskj/, Mansfield it JVeworfc—Stock
Ist mort., newScnamuih <t Charleston—C. & 8., guar. l)y 8. CFunded int. bonds, S. & C. RR., guar, by 8. Car. ..
1 st mort. Savannah &. Charleston RRSanmnnh <£ ileiiiphis—lBt mort., end. by State.
.
Seh uylkill Fn//ey—StockSeaboard dt Roanoke—Stock
1 st mortgageSelma <t Oulf—lRt mort., guarautced by Alabama.
.
Selma, Marion it Memj>his—l«t mort., end. by Ala..Selma, Komt it Dalton—lut mortgage2d mort., Alabama & Tennesflcc RR.Oencral mortgage for $5,000,000
Shnmokin Valley <£ I'ntlseHle—StockIst mwrtgagc, gold, ou road and lands
Sonlhernl'aeific (Cal.)—1st mortgage, goldSouthern Vennsylvania—1st mortgage, gold.. .^...Southwestern (</rt.)—Stock, guarant'd 7 per aimum.Company bonds, convertible Into stock at parMuscogee RR. bonds, convertible at 87'2
SuringHeld, Athol it ff. B.—1st mortgageSin-ingfield, Decatur it Illinois.— 1st A 2d mortgageSlerliitg MnunUiin (N. 1'.)— Ist mortgageStockton a Copnrroimlis—1st mort. (guar, by C. P.)Sijraeusr, liinghainlon it .V. r.—Stock
1 st mortgage2d mortgage
Syracuse Northern.—1st mortgageSummit Brunch (P«.)—StockSuHbiiry iC- Lewislnn—l st mortgage, gold, .vI'erre Ha ute it Indianapolis—Stock
Mar. 1, 1887May 1, 1900Nov. 1. 1879Aug. 1, 1899Mar. 1, 1882May 1, 19001878 to '88
1890
Mar. 1, 1900Dec. 30. 1875
18881872 to '76
.Tilly l,'831o'93
"i"8"85
Deo. 15, 1875Oct, 1, 1876June, 1887
July 1, 1901Feb. 16,1876
Jan. 24, 1 «76Julv. 1879
1893
St.Louis, Kansas City it lforUiem.—\la\< the stockIs pref., 7 per cent yearly, but not cnmnlntive.Gross earnings in 1874, t'2.405.«50; net, $661,027.(V. 19, p. 190, M8; V. SO, p. 475, 571; V. 21, p. 160.)
.S7. Louis, Latcrence A- /)«*r«r.—Leased to Pacificof Mo. .\dccision of much uitcrest to bondholdersof leased roads was rendered by Judge Dillon in asuit agalnut the lessee for intirrcst, hut that suit wasdiscontinued, and another brought in name of "rrus-tees. (V. 19, p. .377; V. '.II, p. 372.)
St. Louis (ft Southeastern.—In default and in handHof receiver. See report at length in V. 2'2, p. 180.(V. 21, p. 137, 418, 442; V. 22. p. 88, 180.)
St. Louts, Vandalta <ft Terre Haule.—The com.stock is $2,378,458, pref. $1,381,700. This road isleased to Terre Haute A Indianapolis at 35 per centof gross earnings. Bonds guaranteed by TerreHante A Indianapolis, by Colnmbiis, Cmcagj &Indiana Central, and Pittsburg, Cincinnati & St.Lonis. (V. 18, p. 631.)St Paul <* Pad/fc.—The bonds are nearly all held
abroad, and an agreement for re-organization wasmade by Dutch bondholders Nov., 187.5. (V. 2], n186. 24.5, 442; V. 82, p. 88, !59, 209, 281.)St Paul <£ Sloua: City. —This company has a land
grant of 708.4.36 acres. The slocks arc secured byliens, there being no bonds issued. (V. 19, p. 191
:
V. 20, p. 544, 546.) ". '
Sacramento Koaey.—Bonds fell duo July 1. 187.5,aid 5 p. c. notes otTcrcd in payment. (V.21, p. 15,159.)
Sandusky, MannfieM <fc Newark.—TMs road is oneof the Baltimore & Ohio sy^-tcm ; it is leased to theCentral Ohio, and the lease guaranteed by BaltimoreA Ohio. (V. 19. p. 584.)Savannah eft 6'Aarfeiton.—'nterest in defanlt. Road
in hands of State Comptroller. (V. 20, p. 453. 491
;
V. 21, p. 16.).e
, ,
Savannah eft Memphis —The road was in progress,but became embarrassed after the crisis ot 1873, andpassed interest. A funding propo,<iUon was oiffered.(V 19, p. 3S«.)aehwjlkUl Faaey.—Leased to PhUadolphia A Read-
ing, with 10 per cent dividends.
Seaboard <ft Koanofe.—Net earnings year endingMnrch 1, im\ $181,152. Report V. 21, p. 276.Selm I (ft Gu/f.—'The proposed line was Selma to
17, p. 1.56, 6.50; V. IS. p. 366.).Selma, Rome A Datton.—This was formerly the
Alabama & Tennessee River. Interest In defaultand road to be sold. (V. 19, p. 40.)Shamokiu Valley dk /toWOTWfe.—Leased February,
1863, to North. Cent, at 7 p.c. on bonds and 6 on .«tocK.
Sheboyffan it Fond du Lac.—This is one of theWisconsin roads in progress in 1873 which went todefault. A funding plan has been offered.Shsfiango (ft Allegheny.—This is one of the leased
lines of the Atlantic & Great Western, on which"rental trust bonds " were issued. The net earn-ings 1873 were $86.8.51.
.shore Line.— Leaded to New York & New Havenat $100,000 per year. Old stock was exchanged fornew in July, 1873.
Sioux City it Pa<Tf^.—This is one of the UnitedStates Oovcrnment subsidized roads. For year end-ing .Iiine.SO, 1874. gross earnings were #319,819, andnet earnings $56.11.5. Pays 7 p. con pref. stock,$169,80(1. seml-nnnnHlly, A. A, O. (V. 20, p. 8.1
Simir. City it St. Piiid.—Then are also $486,000 admort. bonds and $16<l,0iX) equipment. Net earningsIn 1074 were $8n,.36.'i. Ijmds, 629.832 acres. (V. 16p. 627; V. 19, p. 191: V. 20, p. S44.)Sotnerset.-Tms road Is leased to Maine Central.So>tlh Coro/i»o.—Gross earnings in 1874, $1,;%5,-
972; operating expenses, $850,515; net earnings.$515,456 (a decrease of $61,006 from 1873.) Annualrej)ort in V. 20, p. 35 6.South it North. Alabama.—This road is leased and
operated by the Loui.svillo A Nashville, which guar-antees the bonds. Preferred stoek, $1,500,000. (V.18, p. 632.)
Southern of Long Island.—Th\s isl successor ofSonth Side, and operated with Flushing N. Shore ACentral under one managemeDt. There are also$60,000 6 p. c. mortg. bonds on Rockaway Branch,and $64,.30O 7 p. c. on Southern Hempstead Branch.
Southern Central.--Tom^s an extension into NewYork State for I.ehlgh Valley, which company cn-do^^e8 $400,000 of second mortgage bonds.South lou'a (ft Cfdar Rapids.—In progress. Ottnm-
w» to Cedar Knpids. la.
.Southern Minnesota.— \ foreclosure was agreedupon by mortgage bondholders. Land grant is about1,"90,(I0() acres. (V. 30, p. m, 291, 571; V. 21, p. 78.)
Southern Pacific (Co/.>—This road is in progress;has ahout 20 mdes bnilt. It is constnicted by the"Western Development Co.," and controlled byCentral Pacific parties. The stock is »»2.412.a00.In 1874-5. on Iril miles opcTated, the gross earningswere $1,230,951 gold, ana net earnings. $730,4'>1 gold.(V. 2!, p. 160. 23!, «1 1 ; V. 22. p. 281.)
•Southern Pennsylvnnift.—'ms i^ a mining and rail-
road company, rc-organi/.od in 1872 after foreclosureunder second niortg^c. The road is leased by- theCumberland Valley,
Southwestern (ieorgia.—Leased to CentralGcorgia,Dividends 8 per cent a year to every 10 per cent enCentral Georgia stock, but 7 per year is guaranteed.
1st mortgage (Toledo & Illinois)Ist mortgage (Lake Erie, Wabasli & St. Lovils)1st mortgage (Great Western of 1859)Ist mortgage (Quincy & Toledo)Ist mortgage (Illinois & Southern Iowa)2d mortgage (Toledo & Wabash)2d mortga ge (Wabash & Western)2d mortgage (Great Weslern of 1859)Eiiuipmen t bonds (T. & W.)Consol. mort., (on all except St. L. Div.) convert'e2d consolidated mortgage, goldIst mortgage, (Decatur i East St. Louis)Hannibal & Naples— 1 st mortgage
do do 2d doLafayette, Bloomington, & Miss.—Ist mortLafayette, Muncie »fe Bloomington, 1st mortgage
Trou Union—lat mortgage, guaranteed, Troy CityTuckerton—1st mortgageTJnion r*cKrytc—Stock1st mortgage, gold, on road and equipment2d do (government subsidy)3d do on road (2d on land), sinking fundLand gi-ant bonds on 12,000,000 acresOmaha bridge bonds, sterling, £r>00,000
Texas eft Paajlc.—A history of the company isjrtven in the annual report in Chronicle, V. 81, p.429. Land grant bcind.s had been is ued, but newarrangementB were made with the construction com-pany. See report. (V. 19, p. 397; V. 20, p. 63; V.21, p. 229, 334.)
<v
,"
ToUlo, Peoria & irarsaw.—Interest in defaultDecomber, 1873. Passed into receiver's handsFebruary, 1874. Foreclosure suits commenced 1875.(V. 21, p. 160, i-ii, 505. mi, 814; V. 82. p. 159.)
Toled, Wabash <t H'<'«(«m.—Operations for four
years compared as follows ;
Gross
van.
IWl.
earnings.
.$5,7.38,807.. 6,018,978.. 5,736,6()6
.. 4.544,641
Operatingexpenses.
»4,47,3784,36.5,144
3,776,8'J8
3,2:M,365
Netearnings.
tl,.131,4291,013,834l.9!5n,83S
1,308,370
Alater report to June 30, 1874, was in V. 19, p. 480.Feb. I , '7.5, default was made on interest and a fun'lingproposition offered, but not accepted. Mr. J. D.Cox, the Presilenl, was appointed receiver Feb. 82,1875. Decree of sale under consolidated mortgageD,c, 14, 1875. (V. 81, f . 16. M. 186. 26(1, :j84, 349490, 6i'4, 613; V. ii, p. 88, 182, 80'i, 534.)
Troy it .Boston.—With leased roads forms alinefrom Troy, N. Y., to North Adams, Mass. In 1873 74gros-B earnings were |i.5.')iv3io; pcrating expenses,$283 '79. There are a few of old Ist and 2d mort-gage bonds yet onts anding.
Troy Union.—K short road in Troy city. Bondsissued by city and guaranteed by seviral roads..
Tuckerton — ¥rom New jersey Southern Railroadto Tuckerton, N. J. Net earnings l.«,3, $7,759.
Union /"Jci/te. —Gross earnings In 1874 weie $10.-559,880; net earnings, $5,907,565; gross earnings in1876 were $ll,»98,83a, and net earnings $7,011,784.
The percentage of operating expenses to grossearnings was 41 •51 per cent in 1875 and 44 05 percent in 1874. Land sale! In 187.5, lll,n49 acres at$3 66 per acre, or $401,462. Total sales to Jan. 1,
1876, 1,088, M acres for *5,3.36,014. Land notes andcontracts on hand, January 1, 1876, $3,0 2501.The suit to recover for Government transportationwas derided by the United States Supremif Courtin favor of this company. Nov. 2'.», 1875. includ-ing he important nWiug that interest on the Gov-ernment loan is not tiayable till the prin'ipal is
due in 18H6 99. Abstract of last report V. 22,
p. 25 7, and government report to June 30, 1875,V. 21, p. 4«7. The annual report gives nogenera! Ijalance sheet nor income account. Divi-dends at 6 per cent per year were begun in July,and incrcasi-d to 8 per cent October. 1»75. TheUnited Sta' es Attorney-(?eneral has a suit pendingfor J;l.040,0.56 against 'she cojopany as 5 per centof its net earnings. (V. W, p. 314, 3.58. 405, 453, 492,522. .547, 586. .594: V. 21, p. 64, 105, i45, 308, 372, 467,K%; V. 22, p. Ill, 182, 234, 25 7.)
Union PaciHc Centr-iZ B anch.—This was formerlythe Atchison"* Pike's Peak road Interest in de-fanlt oince November, 1H73. Gross earnings 874-75,$11.3,519; exp'-nses, $i;'3.i8'f. (V. 17, p. 588, 8.34; V.20, p. 8,314; V. 21, p. 61 i; V. S2, p. HI).
United ffew Jersey Railroad <t Canal ompanies.—ItiL t'amden A Amboy Railroad and branches.Delaware & Raritan Canal, and New Jcrsev Riiilroadform the United Companies of New J rsey. Theywere leased to Pennsylvania Railroad, Oct 2ii, 1871,at 10 per cent on stock and assumption of all lia-
bilities. In 187'! the gro^s earnings were $10,'i21, 88;operating expenses, $7,0118,449; net. $2,9,3.3,039, leav-ing a loss to lessees of $31,161 after paying inter-est and dividends. The loans due in Fcbrnary, andApril 1875, were paid off and bonds of 1871 increasedby $2,300,000, issued in London.
Utah Cenlral.—Sa.\t Lake to Ogden. In 1872-3net eamingi were $306,858.
Utiea. Ithaca it Elmira.—The road was completedNovember, 1875. The slaking fund is $30,000 yearlyfrom 1878. (V. 21, p. 16.)
Valley (Fa.).—This mad was built chiefly by sub-scription of Bait. & Ohio RR., Baltimore city, andVa. counties, but building was sioppt-d for sometime under difficulties, \vnich were settled in Oc-tober, 1875. (V. 19, p. 640; V. 80, p. 16, 453; V. 21,
p. 396.)
Vermont it Canada.—Vnier lease to VermontCentral, and proposed to be sold to same for $3,000,-
OOii in 6 p, c. bonds; but still in litigation (V. 19, p.
40, 504; V. 20, p. 16, 141, 419, 445, 468. 498; V. 81, p.44i.)
Vermont Centra'.—In 1872 the Company went todefault on interest, and has since been in numerouscomplications. A new corporation undt;r the nameof Central Vermont has been formed, with $2,000,000paid-up capital, and assumed obligations of the oldVermont (Central. Foreclosure in progress on2d mortgage. (V. 20, p. 16. 141, 186, 314, 358,
492, 517 5 14, 616; V. 21, p. 38, 245, 418, 400; V. 82, p.no.)
Vrekstnirg it Meridian.—Net earnings year end-ing March!, 1875, were $130 089. Coupons are paid2 per cent cash, balance scr'p. Coiipons of July,1874, and April, 1815, were passed. (V. 20, p. 59 I ;
V. 2!, p. -207.)
Vermont it Massachusetts.—Thxf, road Is leased tothe Fitchbnrg RR. Co. for 999 years, commencingJan. 1, 1874; they p^ng interest on the debt and 4per cent on the stock for the first two years, 5 percent the next two years, and 6 per cent for the re-mainder of the lease, exclusive of all taxes.
WaKhini/liin VUy, Va. Hid. it Ot. Southern—BtocK2d iiKUlsage, O. & A. RRI Kt iiiid ;)d inortgagn, O. & A. RRItli iiioitgiige, O. it A. RR(•'iiuilfd iiilcrrat, O. & A. RR1st iniirtxiige, ()., A. Jt M. KRUeii. iiiiirt., gold, Wash. C, Va. Mid. & Ot. Soutli'nLyuililMiii; & DiHivUli'. l»t mort., giiar., coup
Chesapeake d: Ohio—Sf(tek.Maryland loan, sinking fundUuarantced sterlingloanBonds liaving next preference
Deta ware Division—SiovM1st mortgage
Delaware d- Hudwm—StockRegistered bondsRegistered bondsRegistered bondsDebentures of 1878IX)au of 1894 ($3,000,000 cp. 4 $2,000,000 reg.).
Lehigh Coat <£ Sacigation—StockLoan, conv., coup., gold (assumed L. <t W. Coal Co)Ist mortgage, registered1st mortgage, registered, railroadMort. loiui, g. ($2,310,000 assiuned C. RR. of N. J.)
WaOUU TW?«y.—This road was foreclosed undera second mortgage and sold November, 187s. (V.
»1, p. 443; V. 22, p. 42, 209.)
Warren (iV. ,/.).—Leased to Delaware, Lackawanna& Western at 7 per cent on stock and bonds. Netearnings in 1873, $416,186.
Washintjton Citt^, Virf/in a Midland it Great South-
ern.—Gross eammgs year ending Sept. 30, 1875,
$1,033,980; expenses, t67lM7; net ettrnines, $401,-
612. The company has been assisted by Bait. 4 O.Coupons on O. & A. id, 3d and 4th mortgages are
overdue. (V. 32, p. IS.)
Wesl.ern Jb AUantic—Tbis road is owned by State
of Georgia, and leased at $240,000 per annum.Lessees Save issued the income bonds. (V. 22, p.
136.)
Westchester dk Philadelphia.—^et earnings 1873-4,
$147,949. Old debts retired by new mortgage.
West Jersey.—Qrata earnings, 1875, $659,797; ei-
Sensee, $368,509; net, $293,287. Net profit aboveiterest and rentals, $95,689. (V. 22, p. 332.)
West Wisconsin.—The company defaulted on inter-
est due Jan. 1. 1875, and funded nine coupons fromthat date. The following is from the official state-
mem; Siiice its organization the company hasissu d t4,(jO0,0()0 gold first mortgage land grantbonds, of which $3.»m ,500 arc outstanding; $6)0,000Southern extension bonds, of which $3i0,000 areheld as collateral security by floating debt creditors;
$2,5110,000 sfveu percent gold consolidated bonds,of which $1,471,000 are held as collateral to the float-
lug debt. The other debts of the iom[>any on Jan.1.1875, were as follows: Bills payable, $1,060,921."There are collaterals belonging to the company heldfor thess. as follows; Southern extension bonds,$370,000; consolidated bonds,$l,471,000; arid 300 cars;other items of debt, $1,826,141. Earnings, 1874,
?,884,930; o|^erating expenses, 697.107; net earnings,87,812. For full particulars see V. 20, p. 77, 291, 314;
V.!tt,p.aB8,
Western .4'oftamo.—Sold in foreclosure, April 19,
1875, and l)ought by Central Ga. and Georgia Bail-roads. (V. 30, p. 398, 405, 446.)
Western \fnrytand.—This company was largely as-
sisted by the city of Biltimore, which has alsobought Its overdue coupons. The only bonds re-
maining In default for interest to their holders arethe second pref^-rred unendorsed. Cost of road andequipment to October 1, 1875, $4,473,450. Annualreport for last fiscal year to Septeinl)er 30, 1875,
shows gross receipts, $293,718; expenses, $194,420;net receipts, $99,2!I8. The gross earnings were$15,9:i5 larg.T than th^- preceding year. The finan-cial condition September :-)0, 1875, was a^ f-'llo^vs:
Liabilities—Stock aubscriptions, $68i,tj;J2; fundeddebt. $3,675,000; material on hand, $I.68i; generalrevenue, $97,722; sundry suspended debts. $3,802—total liahjlities, $4,473,451. Assets—Cost of old roadand appurtenances, $2.401,3!i8; cost of new road,$1,880,483; sundry individual indebtedness, $4.816;Union Railroad Company, $2,500; loss on sale ofsecond preferred bonds, $43,500; construction andequipment, $57,263; sinking fund second mortgagecity endorsed, $30,000; ba'ancc $36,911—total assets,$4,473,451. (V. 22, p. 207.)
WesternNorth C/roiino.—Soldin foreclosure, June23, 1875, for $825,000. (V.20, |.814,453; V.21,p.40.)
Western Penn»ytvania.—T)\e Pennsylvania RR.lessee owns $1)72,650 stock out of the total amountof $1,022,450. $148,000 of branch bonds, and all of$1,200,000 general mortgage bonds; net earnings1875, $182,059. (V. 22, p. «06.)Wdliamston it Tarl>oro.—Bx>aA in progress. No
recent financial information.
WUminMon Colum/>ia it Augusta.—Leases andoperates the V\^il.& Weldon. In 1874-5 net earningswere $183,271, including profit on W.4 W. Couponsof De-., 1875, are unpaid. (V. 22. p. 1 5.)
Wilmington it Reading.—Thi» road was in pro-gress, and defaulted on second mortgage after crisis
of 1873. Default on first mortgage was made April,
1S75. Foreclosure pending, 'The Berks Co., an ex-
tension, was sold out and is now leased to Philadel-phia & Reading. (V. 20, p. 368, 383, 522, 547; V. 21,p. 1.37, 592; V. 22. p. 182.)
Wilmington it IftWon.—Leased December, 187S,to Wilmingt >n, Columbia 4 Augusta road at 7 percent on stock. Lessee assumes all liabilities. (V.28, p. 1 6 )
Wisconsin Central.—Thle company defaulted July,1875, and its latest statement and proposititm forfunding, &c., are in V. 21, p. 24o. (V: *), p. 391, 571;V, 21, p 324.)
Worcester Jk Nashua.—'Het eari,ings 1871-5, $178,-3.30. Guarantees the stock and bonds of Nashua 4Rochesler couipany, leased. (V. 21, p. 590.)
CANAL.Chesapeake <t I></auinr<.—Delaware City to Chesa-
peake City, Md. (V. 18, p. 582).
Chesapenks it OAin.—This company was assisted byState of Maryland, and is making progress towardsmeeting its past due Interest, (v. 31, p. 7T.)
Delaware Z>iti.—Leased to Leh gh C. 4 N. Co., atInterest on bonds, and 8 per cent a year on stock.
Del. it Hudson Canal.—This Co., which is amongthe largest miners and carriers of coal, leases the Alb.4 Susq. and Renss. 4 Sar. Railroads. Also endorsesbonds of N. Y. 4 Canada RR. Annual report for 1874,
V. 21, p. 49«. (V. l^ p. 472, 508; V. 20, p. 381.)
Lehigh Coal <t Navigation.—Gros^ receipts in 1875,$l,849,oa'5; expenses, int. and dividends, $1,914,278.Excess of receipts, $65,191. The Central R. R ofN J. assum'-'s (in purchase of , quipment), $2,810,000of the gold loan due 1897, leases the Lehigh 4 Sus-quehanna Itaii Road, and operates the Lehigh CanaL"The l>!high * Wilkes-ltarre Coal Co. assumes $500,-
000 of the gold loan due 1897, and J:822,000 (all) of theconvertible gold loan due 1891, and bas also leased•be coal lands of the Company. (V. 22, p. 2 J ».)
Srhuj/lkill .V((rion(io»—Stock, common..Pi-eferr<'d stock1 St mortgage (due 1897, extended to 1897)2d mortKageMortgage bondsImprovement bondsBoat and car loan . . .'.
Boat and car loanSusquehanna it Title JTofw—StockMar3'land loan, 2d mortgageSusquehanna C'aual, common bonds, 3d mort
do uref., 3d. T. W. priority b'ds..
do bonds of 1872Union—l»t mortgage
jni!iCX:LI.ANKOUS.Adamt Express Company—Stt>ckAmerican £x;)res»—.StockAmerican Coal ( Jfa )•!/(« iirf)—StockAtlanlic li Pacific Telegraph- StockBoston Water PmcerMortgage bonds (for $2,800,000)
Canton Improvement Company—Stock .'
Sterling bonds (sinking fund ouc-flftli of land sales)Mortgage bonds, gold sixes (for $2,500,000)Union KR., Ist mort., end. C. Co. (s. f., rents on $220,163)
do 2d mort., g., end., (s. f . ground rents on $144,800)
Milesof
Canal.
45
85
Dateof
Bonds
1856186018651869
1807
187018631864
1872
1874
18731874
Cary improvement Companu—Sioc\[Consoli<lation Coal of Marylaitd—Stock.l8t mortgage (convertible)Ist mortgage, consolidated, convertibleCumberland Coal and Iron—Ist mortgage
do do 2d mortgageCumberland Coal d Iron Company—'AUkVDunleith d Dubuque Briilge—Bonis sinking fundIllitiois <t St. Louis Brid{/e—lat mortgage coupon s. fund.
Spring Mountain Coat—Stock, guar'd 7 p. c. by L. V. RB. .
.
xfnited Stales Express—StockWelts, Fargo i£ Company Express—StockWestern Xfnion Telegraph—StockReal estate bonds, gold, sinking fnndBondu, coup, or reg., conv. till May, 1885, S' f. 1 p. c
. Sterling bonds, coup, (sinking fund 1 percent, per annum)Wilkesbarre Coni—Stock
Aforrlf.—licased April, isro, to Lehigh Valley Rail-
road for 999 years. 'The leasees assuming bonds andscrip, and paying 10 per cent peraonum on preferredstock, and 4 on consolidated stock. (V. 12, p. 714).
Pennsylvania (7araa?.—Worked in interest of Penn.RR. which guarantees inierest on bonds. An old
mortgage of »90,(X)0 is due in 1887. Gross receipts
1874, $546,3*8; net, 1310,14-2.
Schuylkill Naviqatlrm Compmy.—Leased fromJune 1, 1870, to Philadelphia A Reading for 999years, at annual rent of $(155,000, including '-ertain
real and personal property conveyed to Philadelphia& Reading. (Last annual report In V. 18, p. 272.)
Susquehanna dk Tide Wafer.—Leased and operatedoy Philadelphia & Beading Railroad for interest onv6nds and half of net earnings.
Union C'ona.'.—Stock, $2,907,850.
nilSOELLANEOUS.Adams Exirress Company.—A reference lo the
suit of Dinsmore and others in V. 19, p. iJ70.
Anwican Coai.—The report for 1875 showed grossreceipts, $825,916; net, $S9,016, (V. S2, p. 180.)
Atlantic <t Pacific Telegraph.—Ot this stock the
Union Pacific Railroad holds |2,4aO,000. (V. 19, p.50J, 638, 639.) Annual report V. 30, p. 488 ; V. 21,
p. 63, 277.
Boston Water Power Cb.—Annual report in V. SO,
&42». A stock increase of 26 per cent was votedov.. 1875. (V. 21, p. 611, 591.)
Canton Improvement Co..—The annual report foryear ending May 31, 1875, is in V. 20, j). 59 1 . Of the$2,600,000 mortgage $600,000 is reserved to pay stcr-
linjj loan. The Company owns $594,000 stock ofUnion Railroad Co. out of $600,000 and guaranteesIts bonds. (V. 30, p. 314, 646.)
Assets April, 1876, $298,-Cary Improvement Co.-694; liabilities, $165,009.
Conso'idation Coo'.-Annual report for 1874 in V.20, p. 289, showing gross receipts, $2,756,948; ex-penses, $1,976,294; net, $780,65.3. Consol. mortgagebonds are held to retire old bonds. Guarantees alsobonds of the Cumberland & Penn., and assumes$135,000 Un. Mining Co. bonds. (V. 22, p. 2T9.)
Illinois <fc St. Lou'S Bi-idgs.—Interest passed July,1875. The Bridge and Tunnel Railroad are in handsof Messrs. Morgan and Humphreys, trustees. (V30, p. 544; V.Sl, p. 349.)
Mariposa Land & Mining Co.-22, p. 23S.)
-(V. i», p. 477; V.
Paeifle Mail Steamship Cto.—(V. 30, p. 141, 162,163, a4-J, 267, 814, 419, 615, 598, 616; V. 21, p. 40, 207,281, 278, 324, 349, 896; V. 2-J, p. ii, 267, 881.)
Pennsylvania Co<U.—T\aii company operates a rail-road of 47 miles connecting its coal mines withBranch of Erie Railway and Delaware & HudsonCanal at Hawley. Dividends in 1874 were 45 per centa year. Floating debt, $625,000.
Pullman Palace Car Company.—TnW report In V.21, p. 46T.
Quicksilver Mining Company.—Annna^ report for18r4, with balance sheet, Ac, in V. 20, p. 404. SeeV. 19, p. 584; V.20, p. 141, 429, 538; V. 22, p. 233.
Spring Mountain Coal Comitany.-This is guar-anteed 7 per year till 1885 by Lehigh Valley RR.
United States Express.—V. 32, p. 159.
Western Union Telegraph.—Animal report, V. 21,p. 369. The company holds $7,287,735 of its ownstock, making the total $4I,(»r3,410. (V. SO, p. 77,155.358,571; V. 21, p. 16,369, 372, 569; V. 2-2, u!186, 175. 182; V. 22, p. 257..)
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xxzii mVESTOES' SUPPLEMENT [March 25, 1^76.
Insurance.
CONTINENTAL*
Insurance Comfainy.
OFFICER:
NEW YORK, 100 & 102 BROADWAY.
BROOKLYN S
III New Continental Insurance Baildin^
COR. rOURT & MONTAGUE ST8.
CsahCspital $1,000,000 00
Reeerve for Re-In«nninc« 961,427 48
Special Reserve Fond, deposited noder
New Tork Surplus Law with InaiU'
ance Department 800 000 00
Gnaraniy Surplus Fund 300,000 00
(jBdlTided Surplus held for all Claims
against the Company 893,738 28
Total Assets, Jan. 10th, 1876 (8,845,186 64
INSURES
DlirBI.LlN«S FCRNITCKB.VTARKHOVSKS niBRCH4Ki»ISK,
LEtSBi, KK^TS,
And other Insurable Property, at Jnst Rates of
Premium.
THE CONTi:«ENTALWIS THK
FIRST COMPANY TO SUBMIT TO THEBBSTBICTI0N8 OF THE SURPLUS
LAW OF 1874.
By the proT.sions of this I,aw the rompany is
compelled to limit its dividends to stockholders
to 7 per cent, per anonm, and to deposit one-half
of the remainder of its earnings in the Insur-
ance Department of this State, as a SPECIALRESERVE SAFETY FOSD, for the PROTEC-TION and SAFETY of such policy holders as maynot be burned out at the time of a conflai^ration so
great as to destroy the ability of all Companies, to
pay their lo'ses in full, thereby avoiding the neces-
sity of placing the Company in the hands of a
Receiver in iianlcruptcy.
Some of the benefits of submission to this law
are as follows
:
First—To the assured, who are claimants for
losses at the time of the great fire.
It will give them more money than can be ob-
tained under the requirements of any other law
on this subject, because it exempts the Companyfrom receiver's fees, legal costs, or other expenses
of banlsruptcy.
It requires the Company to maintain at all times
a "GUARANTEE SAFETY FUND" equal in
amount to the "Special Reserve Fund," for the
greater protection of policyholders generally.
It will prevent any en roachment npon it bylater losses under nncanceiled policies.
It compels Just and prompl adjiistmonts :ind pay-
ments, no matter how great the fire or loss.
Seoond—To the policy-holders whose property is
not involved in such fire a hitherto neglected
class :
It will give a deserved protection and provide for
the payment of their later stistalned losses, as if nogreat fire had occurred.
It will save them from vexations and serious loss
of time and money in seeking and paying for newinsurance, while waiting indefinitely for the return
of what is due from the Bankrupt companies whosepolicies have become worthless, and whose assets
may be in the clutches of a slow-paced Receiver.
GEO. T. HOPE, President.
H. H. LAMPORT, Vice-Pres't.
CYRUS PECK. Secretary.
B. C. T0WN8END, Sec. Agency Dept.
ABRAM M. KIRBY, Sec. Local Dept.
CHAS. H. DUTCHEB, Sec. Brooklyn Dept
JOHN S. OAKLEY, G«nwsl Agent
Instiranoo.
OFFICE OF THB
ATLANTIC
Mutual Insurance Co.
Nbw Yobk, Jan. 34, 1876.The Trustcos, in conformity to the Charter of the
Company, submit tho following Staement of its
affairs on the 3l3t.nccombor. 8;5
:
Premiums received on Marine Risks,from 1st January, 187S, to Slst De-cember, 18:5 $5,810,031 88
Prominnis on Policies not marked orf
1st January, 1375 2,455,378 87
Total amount of Marine '•remiums.. $3,895,394 75
No Policies have been issued uponLife Risks ; nor upon Fire discon-
nected with Marino Risks.
Premiums m.^rkod off from 'st Janu-ary, 18J5, to Slat December, 1875 ... $6,183,134 68
Losses paid during the
same period $2,713,058 05
RetariiS of Premiums andExpenses. .$1,817,417 86
The Company has the following Asssts, viz.:
United States and State of New YorkStoek, City, Bank, and other Stock».$i0,3l4,940 80
Loan 1 secured by Stocks, and other-
wise 2,614,200 00Real Estate and Bonds and Mortgages 867,000 00Interest, and sundry Notes and Claimsdue the Company, estimated at 464,037 98
Premium Notes and Bills Receivable. . 8,076,360 60CashinBank 363,408 40
Total amount of Asiets $16,019,910 68
Six Per Cent Interest on the outstandingcertificates of profits will be paid to the holdersthereof, or their legal representatives, on and after
Tuesday, the Ist of February Lext.
Tue outstanding certificates of the Issue of 1878
will be redeemed and paid to the holders there f,
or the r legal representatives, on and after Tuesday,the 1st of February next, from which date all inter-
est thereon will cease. The certificates to be pro-
duced at the time of payment, and cancelled. Uponcertificate-' which were Issued for gold premiums,the payment uf interest and redemption will be in
gold.
A DiTlJcnd of Forty Per Cent, is de-
clared ot the net earned picmiums of the Companyfor the year endin? 31st December, 1875, for whichcertittMtes will be issued on and after Tuesday,the 4th of April next.
By order of the Board,
J. He caAPIHAN, Secretary.
TBI'S rKBS.J. i>. Jones,
Charles Dennis.
W. H. H. Moore.
Henry Colt,
Lewis Curtis,
Charles :I. Russell,
Lowell Holbrook,
David Laue,
'ames l?ry.^e,
DauiHl S. Miller,
William Sturgis,
Josiah O. Low,Williiim E Dodge,
Royal Piielps.
Thomis F Youngs,
C. A Hard,
Jame^ Low,
John D. Hewlett,
Gordon W. Burnbam,Frederick Chauncey,Charles P. Burdett,
Francis Skiddy,
Robert B. Minturn,
Chwles H, Marshall,
George W. Lane,
Boberi L Stuart,
James Q. De Forest,
Alexander Y. Blake,
Cbarlee D. Leverich,
Adolph Lemoyne,Adam T. Sackett,
Horace Gray,
Edmund W. Corllee,
John Elliott,
Samuel Hutchinson,
William H. Webb.
J. D. JONES, President.
CHARLES DENNIS, Vice-PreaidenU
W. B. H. HOOBS, M Vice PrettldWl-
FuliUcations
THK
Financial Review
(ANNUAL),
1 8 T' e
CONTENTS:
Flnanelal Retrospect- of the Year
187S—United States Commerce—Bank Move
ments- Financial Affairs in London.
Mercantile Failures In 18T6>
Represvutative ILallioads of ttae I . S>
Railroads In Default.
Cnlted State liaud Grants.
Investmeuts and Speculation.
Compound Interest Table, showing the
accumulation of $1 at dlfiferent rates of annua
interest, for all periods from one to fifty years-
