AMERICAN BANK No, 06 TRINITY PLACE, NEW YORK, Engravers and Pri. . STEEL Pi ATE AND LilHOGRAPHIC KAlUtOAD BONDS, STOCK CERTIFICATES, KOUNTZE BROTHERS Railroad, Street Railway and Municipal INVESTMENT SECURITIES ALLOW INTEREST ON DEPOSITS MAKE LOANS AGAINST APPROVED COLLATERAL ACT AS FISCAL AGENTS FOR MUNICIPALITIES AND CORPORATIONS BUY AND SELL U. S. BONDS AND OTHER SECURITIES FOR THE USUAL COMMISSION MAKE COLLECTIONS SPEEDILY AND AT FAVORABLE RATES ISSUE TRAVELERS' LETTERS OF CREDIT TRANSACT A GENERAL Domestic and Foreign Banking Business CONNKSPONDCNCC INVITCD HARVEY FISK & SONS BANKERS AND DEALERS IN Bonds And Other Investment Securities NEW YORK BOSTON 29 NASSAU STREET 10 POST OFFICE SQUARE PHILADELPHIA : REPRESENTED BY JAMES H. CHAPMAN, 421 CHESTNUT STREET HARTFORD, CONN.; REPRESENTED BY R. T. H. BARNES, /ETNA LIFE BUILDING CHICAGO, ILLS.: REPRESENTED BY DANIEL K. DRAKE, 414 Continental Nat'l Bank Bldg. FRANKLIN-LEE BANK NOTE COMPANY 142 Broadway, cor. Liberty St., New York CONSOLIDATED 1897 ENGRAVERS AND PRINTERS OF IB ACCORDANCE WITH THE REQUIREMENTS OF THE YORK STOCK EXCHANGE ROTES, BILLS OF EXCHANGE, DRAFTS, CHECKS, NOTES, PROPRIETARY STAMPS, LABELS, TAGS, BILL AWD LETTER HEADS DIPLOMAS AND CERTIFICATES OF MEMBERSHIP Insurance Policies, Calendars and Commercial Work of all kinds UIBOGRAPHIC BONDS. CERTIFICATES OF STOCK, CHECKS, DRAFTS, BILLS OF EXCHANGE AND LETTEK HEADS EXECUTED IN A SUPERIOR MANNER RAILWAY TICKETS IN ALL VARIETIES WORK EXECUTED IN FIREPROOF PREMISES CARNEGIE STEEL COMPANY of Pittsburg, Pa., With- Sales Offices at Boston, Cleveland, Cincinnati, New York, Detroit, Atlanta, Philadelphia, Chicago, St. Louis, Washington, Minneapolis, Denver, Buffalo, San Francisco, Portland, Ore., Montreal, London, and City of Mexico, Manufactures and Sells Pig-iron, Spiegeleisen, Ferro-manganese, Steel Rails, Blooms, Billets, Beams, Channels, Angles, Armor, Boiler, Tank and Ship Plate, Axles, Car Forgings, and general forms of Rolled Bessemer and Open-hearth Steel. Taylor Iron & Steel Co. Manufacturer! of Steel Tired Car Wheels Manganese Steel Mine Car Wheels Porged Steel and Iron Axles Steel Castings •» General Purposes Manganese Steel Dipper Teeth — Lips or Cutters «•»• Steam Shovels Teeth made with renewable points— outwear 3 or 4 Tool Steel Points and can be readily and cheaply replaced Works and General Office: HIGH BRIDGE, N. J. LATROBE STEEL COMPANY MANUFACTURERS OF TIRES FOR LOCOMOTIVE AND CAR WHEELS AND OF WELDLESS FLANGES FOBBED AND ROLLED FROM SOLID STEEL INGOTS Suitable fir High Pressure Steam, Water or Gas Lines MAIN OFFICE: 1200 Girard Building, Philadelphia 3RAMCH OFFICE: Room 1 546 Bowling Green Office*, 1 1 Broadway, New York Tie Jessop High-Speed... Air-Hardening Tool Stoel '.'-inch cut, feed. Speed 20 to 40 feet per minute. Tools hardened by heating white hot and cooled in air. CAN NOT BE BURNED WM. JESSOP & SONS,. Limited, SSg Chief American Office, gi John Street, New York POOR'S BUREAU OF INFORMATION AND INVESTIGATION Conducted in connection with and as an adjunct to POOR'S MANUAL OF RAILROADS Address JOHN P. MEANY, Manager, 68 William Street, New York, N. Y. HASKINS & SELLS CERTIFIED PUBLIC ACCOUNTANTS 80 BROAD STREET NEW YORK LONDON. E.G. 30 COLEMAN STREET CABLE ADDRESS ST LOUIS HASKSELLS" CLEVELAND PITTSBURG C. A. fTARBUCK J.C. WB MAKE A STRICTLY First-Class Brake AT A VERY Reasonable Price. THE NEW YORK AIR BRAKE CO. Our Customers ARE SOME OP THE Leading: Railways OF Tilt WORLD. 66 BROADWAY. NEW YORK. DM CM IV INSURANCE rntNiA COMPANY. OF BROOKLYN, N. Y. NEW YORK OFFICE, 68 WILLIAM STREET. N, W, HARRIS & CO. BANKERS PINE STREET, Corner of William HEW YORK CHICAGO BOSTON DEALERS IN GOVERNMENT, MUNICIPAL, RAILROAD AND OTHER CORPORATION BONDS LISTS ON APPLICATION Issue TRAVELERS' LETTERS OF CREDIT available In all parts of the world TOWNSEND SCOTT A. ELZEY WATERS FRED. G. BOYCE, Jr. C. DE LACEY EVANS Baurvkers Brokers FAYETTE STREET (Opposite Post Office) ESTABLISHED 1833 BALTIMORE. MD. JOHN L. WILLIAMS JNO. SKELTON WILLIAMS RO, LANCASTER WILLIAMS C. L. BEMISS LANGBOURNE M. WILLIAMS JOHN L. WILLIAMS & SONS BANKERS AND DEALERS IN SOUTHERN INVESTMENTS Corner 1Oth and Main Streets RICHMOND, VA. CABLE ADDRESS WILLIAMSON. RICHMOND Transact a General Banking Business. Negotiate Railroad and Municipal Loans Draw Bills of Exchange and furnish Letters of Credit on all parts of the world We are prepared to purchase outright entire new issues of STATE, MUNICIPAL and RAILROAD BONDS or to Negotiate the same on Commission. We invite correspondence, and cheerfully furnish information on any subject relating to Southern Investments, of which we make a specialty. SEABOARD AIR LINE RY. SECURITIES A SPECIALTY I. W». MWdendorf *• »' R»"-erfoord A. J.Robin. F'Lent2 J.Wm. Middendorf & Company BANKERS AND BROKERS The Continental Trust Building r. o. BOX no3 BALTIMORE, MD. MEMBERS BALTIMORE STOCK EXCHANGE DIRECT WIRES TO NEW YORK AND RICHMOND, VA. INVESTMENT SECURITIES DEALERS IN FOREIGN EXCHANGE MARYLAND TRUST CO. N. W. Corner Calvert and German Streets BALTIMORE CAPITAL, - SURPLUS, - $2, 1 25,000 2,437,500 Acts as Financial Agent for States, Cities, Towns, Railroads and other Corporations. Transacts a general trust business. Lends money on approved security. Acts as Trustee under Mortgages, Assiguments and Deeds of. Trust; as Agents for the Transfer or Registration of Stocks and Bonds, and for the payment of coupons, interest and dividends. J. WILLCOX BROWN HENRY J. BOWDOIN - LLOYD L.JACKSON ALLAN McLANE - CARROLL VAN NESS - L. S. ZIMMERMAN ------- President - First VIce-President - Second Vice-President Third Vice-President - - - Secretary and Treasurer - Asst. Secretary and Asst. Treasurer J. WILLCOX BROWN, WM. A. MARBUKG, LLOYD L. JACKSON, GEU. A. VON LINGKN, HENRY J. BOWDOIN, JOSHUA LEVKKING, W. B. BROOKS, JR., JOHN 8. WILSON, DIRECTORS: FRED'K w. WOOD, SEYMOUR MANDELBAUM, LEOPOLD STROUSE, HENRY A. PARR, HENRY WALTERS, B. N. BAKER, ANDREW D. JONES, JAMES BOND, JOHN A. TOMPKIN8, CLAYTON C. HALL, JOSIAH L. BLACKWELL, GEORGE C. JENKINS, JOHN PLEASANT8, L. F. I.OREE, J. SOUTHOATE LFMMON. 10 THE CHICAGO NATIONAL BANK, No. 152 Monroe Street, CHICAGO. CAPITAL $I,OOO,OOO. SURPLUS, $I,OOO,OOO. This bank is fully equipped to care for the accounts of banks, individuals, firms and corporations. It respect- fully invites correspondence or a personal interview with those who contemplate making changes or opening new accounts. DIRECTORS: WILLIAM BEST, MAURICE ROSENFELD, F. M. BLOUNT, ANDREW McNALLY, J. R. WALSH, C. K. G. BILLINGS, JOHN M. SMYTH. OFFICERS: J. R. WALSH, President; ANDREW McNALLY, Vice.Pres't; F. M. BLOUNT, Vice-Pres't; T. M. JACKSON, Cashier F. W. McLEAN, Ass't Cashier; J. E. SHEA, Ass't Cashier. BARTLETT, FRAZIER AND CARRINGTON Stocks and Bonds, Grain, Provisions and Cotton Partners : W. H. BARTLETT P. P. FRAZIER W. T. CARRINOTON O. W. PATTEN J. A. PATTEN H. J. PATTEN C. B. PIERCE J. P. QRIER No. 5 and 7 New Street Western Union Building No. 81 HichiKan Street Planter*' Hotel Building tlllcott Square Building Wlr*. lo tb« Prtactp.1 CttiM. Members: NEW YORK STOCK EXCHANGE NEW YORK PRODUCE EXCHANGE NEW YORK COFFEE EXCHANGE NEW YORK COTTON EXCHANGE CHICAGO BOARD OF TRADE CHICAGO STOCK EXCHANGE NEW ORLEANS COTTON EXCHANGE LIVERPOOL CORN TRADE ASSOCIATION ST. LOUIS MERCHANTS' EXC IANGE MILWAUKEE CHAMBER OF COMMERCE MINNEAPOLIS CHAMBER OF COMMERCE DULUTH BOARD OF TRADE NEW YORK, N. Y. CHICAGO, ILL. niLWAUKEE, WIS. 5T. LOUIS, MO. BUFFALO, N. Y. Ml. South and We*t 11 THE EQUITABLE TRUST COMPANY 152 Monroe Street, CHICAGO Capital paid up $5OO,OOO Surplus and Profits - 3OO,OOO Acts as Trustee for Corporations, Firms and Individ- uals and as Guardian, Executor and Administrator. Takes entire charge of Estates, real and personal. A legal depositary for Court and Trust Funds. Acts as Agent for the Registration and Transfer of Bonds and Stocks of Corporations and payment of Coupons, Interest and Dividends. Interest paid on Deposits. D I R ECTO RS William Best Andrew McNally John M. Smyth F. M. Blount Maurice Rosenfeld J. R. Walsh L. A. Walton OFFICERS J. R. WALSH. President L. A. WALTON, Vice-President C. D. ORGAN, CHARLES HUNTOON, Sec'y and Treas. Ass't Sec'y and Ass't Treas. MASON LEWIS & CO. Bankers CHICAGO BOSTON 'PHILADELPHIA Monadnock Building No. 60 Devonshire St. No. 505 Chestnut St. MUNICIPAL RAILROAD CORPORATION BONDS ISSUES FIRST MORTGAGE BONDS Street Railway Companies Electric Lighting Companies Electric Power Companies Gas Companies .... CORRESPONDENCE INVITED 12 OLD COLONY TRUST COMPANY BOSTON, MASS. CAPITAL, $1,500,000. SURPLUS, $5,OOO,OOO Aots •• Trustee under Mortgages, Transfer Agent, Registrar. Transacts a General Banking Business. Allows Interest on Daily Balances Subject to Check. BOARD OF DIRECTORS. T. JEI FKRSON COOL1DGE, Jr., Chairman. Cordoa Abbott. ttuu-kso I. Cotting, George P. Gardner, Henry 11. Heed, Oliver A«f. Philip Dexter, Henry S. Howe, Nathaniel 1 haver, C %».' Amory. I N-n S. I raper, V\ alter Hunnewell, C. S. Tuckerroan, flamed « *rr < «or e I . Fahyan. George v. L. Meyer, Lucius Tut tie. timer. Frederick P. Ki-h. I aiirence Minot, Stephen M. Weld, T Jvflenoa Cooiidc*. Kecioald Foster, Richard Olney, l.eriry C. \\eston. T Jl 1 I. US 'N ('OOL1DGK, Jr Chairman of the Toard B ( i IT President i - i I i K i U A N Vice-President and Treasurer II I1 i . M : I >M . U Vice-President SIC HAltT Vice-President JA^>RS A. PAKixKK. \ ice-President E. A. P il 1*1 K »' Assistant Treasurer and Se retary F. (;. POUSI AND Assistant Treasurer JO8KP-I «.. Ml \ll.NS Assistant Secretary F- Ki MM: 1 « • VI! Assistant Secretary F. M. I.AM8ON, Assistant Secretary JUUUS K. WAKKF ELD .. Jiust O:. cer PARKINSON & BURR STOCK BROKERS S3 State Street, Boston, Mass. 7 Wall Street, New York, N. Y. CONNECTED BY PRIVATE WIRE OF THE NEW YORK AND BOSTON STOCK EXCHAM J-:s Investment Securities 13 First National p««»>^jf«'*« |--v i First National Bank First National Bank of Milwaukee *~d UNITED STATES DEPOSITORY Ce.pite.1 $1,500,000 Surplus svnd Profits 900,000 F. G. BIGELOW, President. WM. BIGELOW. Vice-President. T. E. CAMP, Assistant Cashier. FRANK J. KIPP, Cashier. H. G. GOLL, Assistant Cashier. DIRECTORS E. MATNER. F. G. B G~TOW. C. F. PFISTER. H. C. P\Y E. GEO. P. I LE,l. FR :D T. GOl.L. W.»l. BIGnLuW. F. VUGEL, JR. J.H.VAN DYKE, JR. NEW YORK. BOSTON H. W. POOR & CO., BANKERS, 33 Wall Street, NEW YORK. 52 Devonshire Street, - BOSTON. INVESTMENTS IN RAILROAD BONDS A SPECIALTY. Orders Executed on the New York and London Stock Exchanges. I CORRESPONDENCE INVITED. 14 f. tOCRTON WEBB MJ°uHN WEBB & PRALL BANKERS & BROKERS '! 49 Wall Street, New York BRANCH OKKICE 32 East 42d Street LINCOLN BANK BUILDING OPPOSITE GRAND CENTRAL DEPOT PRIVATE WIRE 15 MOFFAT & WHITE Bankers Dealers in We make a specialty of the stocks of Telephone com- panies operating under the Bell (A. T. & T. Co.) license. George Barclay Moffat Alexander M. White, Jr. Harold T. White Member N. Y. Stock Exchange KNAUTH, NAGHOD & KUHNE ...BANKERS... 11-19 WILLIAM STREET, NEW YORK Members of the New York Stock Exchange INVESTMENT SECURITIES LETTERS OF CREDIT AND TRAVELERS' CHECKS Available in all Parts of the World CABLE TRANSFERS FOREIGN EXCHANGE We solicit correspondence of Banks and Bankers desiring the use of our facilities for drawing their own drafts on our foreign correspondents PRINCIPAL CORRESPONDENTS PA Klt'S BANK, Limited, Loudou ) BANCO NACIONAL Ml. MEXICO, Mexico City tKEDIT LYO.NNAIS, Paris ( . „,.„„„,. „ PHILADELPHIA NATIONAL BANK, Phlia., P». iii ii'i'wj ii i. ir t Y i. i».. ..i : .. /• Him nruuuitN B.I? i>w i \tri.ivti •• 4 v i/ j i. :.....,.. 111 DKUTSCHK BANK, Berlin FIRST NATIONAL BANK. ChlCM*. 111. DKESDN EUBANK, Berlin CKOCKEIt-WOOLWOUTH NATIONAL BANK, San FranolNco, Cal, KNAUTH, NACHOD & KtHNE. l.rip/.iit. 16 J. & W. SELIGMAN & CO. NEW YO R.K BUY AND SELL INVESTMENT SECURITIES Issue LETTERS OF CREDIT FOR TRAVELERS, payable in any part of Europe, Asia, Africa, Australia and America. Draw Bills of Exchange On and Make Telegraphic Transfers of Money to Europe and California. SCLIGMAN BR.OTHER.S London SCLIGMAN FRtRES 6, CIE. Paris SCLIGMAN & STETTHEIMER - Frankfurt ALSBER.G. GOLDBERG & CO. - - Amsterdam ANGLO-CALIFOR.NIAN BANK. Limited. S&n Francisco. C&1. •. autmn OAU*T MATH AID c. CTKB. CHAI c. HARRISON. WM. A. jimrntos. JAMES WHITKLT, SFKIAL. PRINCE & WHITELY, Bankers and Brokers, EXCHANGE COURT BUILDING, No. 52 BROADWAY, NEW YORK. No. 15 CENTER STREET. NEW HAVEN, CONN. All Classes of RAILWAY STOCKS, also Grain, Provisions and Cotton, Bought and Sold on Commission. SPECIAL ATTENTION GIVEN TO INVESTMENTS. R. T. WILSON & CO., I Bankers, I 33 WALL STREET, - NEW YORK. TRANSACT A GENERAL BANKING BUSINESS. Receive Accounts of Corporations and Individuals en Liberal Terms. NEGOTIATE STATE, MUNICIPAL AND RAILROAD SECURITIES. CORNELIUS C. CUYLER. . FRANCIS J PATON. BE.vjAMtN GRAHAM. ARTHUR C. VAUGHAN. JUNTOS SPENCER MORGAN. DANIEL P. KINGSFORD. CUYLER, MORGAN & CO., No. 44 PINE STREET, NEW YORK. DIVIDENDS AND INTEREST COLLECTED AND REMITTED. Act as Agents for Corporations in Paying Coupons and Dividends ; also as Transfer Agents. Bonds, Stocks and Securities Bought and Sold on Commission at the Stock Exchange or elsewhere. STERLING EXCHANQ3 AND CABLE TRANSFERS BOUGHT AND SOLD. Draw on the Union of London and Smith's Bank, Ltd.; British Linen Co. Bank, London and Scotland; Ulster Bank, Limited, Belfast, Ireland, and Branches. Manhattan Trust Co. WALL STRRBT, cor. NASSAU, NEW YORK. OFFICERS: JOHN 1. WATERBURY, Prcmident. JOHN Kit AN, tVit-e- AMOS T. FRENCH, I PrraiAentf. W. N. Duaae, sd Vicc-Pres. and Treta. The Manhattan Trust Company receives deposits b»ar.nir m-rreM ard subject to cheque, payable through the New York dealing House. BANKERS AND CORRESPONDENTS NEW YORK Chase Nafl Bank Clearing House Agent First Nat'l Bank BOSTON Old Colony Trait Co. PHILADELPHIA Fidelity Trust Co. CHICAGO Illinois Trust and Savings Bank LONDON London and Westminster Bank, Ltd. CAPITAL, DEPOSITS, $200,000 $5,500,000 UNDIVIDED PROFITS, $800,000 83 and 85 MONTGOMERY ST., JERSEY CITY, N. J. TITLE DEPARTMENT SATE DEPOSIT DEPARTMENT TRUST DEPARTMENT Titles Guaranteed to Real Estate in any part of New Jersey. Safe Deposit Vaults as perfect in construction and complete in safeguards as the best in the world. Boxes $5 to $350 per annum. No inheritance lax is imposed upon deposits in New Jersey of either residents or non-residents. Executes all trusts known to the Law. Receives deposits subject to check and allows interest on daily balances. Issues time and demand certificates of deposit bearing interest. ACCOUNTS SOLICITED ). E Hl'LSHIZRR. President GEO. F HKRK.NS . V.c.Pre, I. OLEKDORr. 1 JR" WM H '" Vice PI-M : EVERTS. Sec. and Trea, .t. Title Officer. 19 NEW YORK SECURITY • TRUST COMPANY 44 & 46 WALL STREET, NEW YORK CAPITAL --- $1,000,000.00 SURPLUS ... 4,000,000.00 CHARLES S. FAIRCHILD, President. OSBORN W. BRIGHT, Vice-Pres. ZELAH VAN LOAN, Ass't Sec. L. CARROLL ROOT, 3d Vice-Pres. JAMES E. KEELER, 3d Ass't Sec. ALEX. S. WEBB, Jr., Sec. H. W. WHIPPLE, M'g'r Bond Dept. TRUSTEES CHARLES S. FAIRCHILD, B. AYMAR SANDS, ABRAM M. HYATT, JAMES J. HILL, JOHN W. STERLING, NORMAN B. REAM, STUART G. NELSON, JOHN A. McCALL, CHARLES M. SCHWAB, HUDSON HOAGLAND, JAMES A. BLAIR, JOHN S. PHIPPS, JAMES STILLMAN, FRANK W. STEARNS, FRANK TILFORD, M. C. D. BORDEN, EDMUND D. RANDOLPH, WOODBURY LANGDON, JOHN G. McCULLOUGH, GEORGE W. PERKINS, OSBORN W. BRIGHT, FRKDERIO R. COUDERT, E. PARMALEE PRENTICE. This Company is authorized to act as Executor, Trustee, Administrator, Guardian, Agent. Receiver, Registrar and Transfer Agent of Stocks and Bonds, and is a legal depository for Court and Trust funds. Will take entire charge of real and personal estates, collecting the income and profits, and attending to all such details as an individual in like capacity could do. Receives deposits subject to check, allowing interest on daily balances, and issues certificates of deposit, bearing interest. • HOLLISTER & BABCOCK, BANKERS AND BROKERS, 17 AND 19 BROAD STREET, NEW YORK. * MEMBERS OF THE NEW YORK STOCK EXCHANGE AND DEALERS IN INVESTMENT SECURITIES. BowlingGreenTrustCo. 26 BROADWAY, NEW YORK. Capital, $2,500,000. Surplus, $2,500,000. OFFICERS: EDWIN GOULD . . . . President WILLIAM H. TAYLOR, . 1st Vice-President JOHN A. HILTON . 3d Vice-Pres. & Treas. WILLIAM M. LAWS . . . Secretary DIRECTORS: Charles P. Armstrong Frank Jay Gould, William Willis Merrill Frank Bralnard. George J. Gould, Winslow S. Pierce, Robert C. dowry. John A. Hilton, Frederick B. Schenck. Edmund C. Comerse. Myron T. Herrick. William H. Taylor, Wm. Nelson Cromwell Edward T. Jeffery. Edward R. Thomas. Grenville M. Dodge. Edward R. Ladew. John P. Truesdell, Ashbel P. F.tch. William M. Laws. E. F. C. Young, Edwin Gould. J. W. Middendorf. STUYVESANT FISH VICC-PRKSIDENT GEORGE S. HICKOK CASHIER JOHN C. VAN CLEAF *«»T, CASHIER RICHARD DELAFIELD PRESIDENT ALBERT H. WIGGIN VICE-PRESIDENT EDWARD J. BALDWIN ASS'T CASHIER FRED'K O. FOXCROFT ASCT. CASHIER GILBERT G. THORNC VICE-PRESIDENT WILLIAM O. JONES ASST. CASHIER WILLIAM A. MAIN ASST. CASHIER THE NATIONAL PARK BANK OF NEW YORK Organized 1856 Capital, Surplus, $3,000,000 r,ooo,ooo ISSUES TRAVELERS' LETTERS OF CREDIT, AVAILABLE IN ALL PARTS OF THE WORLD, BUYS FOREIGN EXCHANGE, AND SELLS DRAFTS AND CABLE TRANSFERS. . JOSEPH T. MOORE, STUYVESANT FISH, OEORGE S. HART, CHARLES SCRIBNER, EDWARD C. HOYT, DIRECTORS: W. ROCKHILL POTTS, AUGUST BELMONT, RICHARD DELAFIELD, FRANCIS R. APPLETON, JOHN JACOB ASTOR, GEORGE S. HICKOK, GEORGE PRED'K VIETOR, ALBERT H. WIGGIN, CORNELIUS VANDERBILT. ISAAC GUGGENHEIM, JOHN E. BORNE. 22 CENTRAL TRUST COMPANY OF NEW YORK, No. 54 WALL STREET. CAPITAL, $1,OOO,OOO. UNDIVIDED PROFITS, $13,068,373.59. Allows interest on deposits, returnable on demand, or at specified dates. Is a legal depository for money paid into Court. Is authorized to act as Executor, Administrator, Guardian, or in any other position of trust. Also as Registrar or Transfer Agent of Stocks and Bonds, and as Trustee for railroad and other Mortgages. F. P. OLCOTT, President. GEO. SHERMAN, Vice-President. E. F. HYDE, 2d Vice-President. B. G. MITCHELL, 3d Vice-President. J. N. WALLACE, 4th Vice-President. GEO. BERTINE, Secretary. F. L. GRANT, Asst. Secretary. F. B. SMIDT, Asst. Secretary. EXECUTIVE COMMITTEE. THE PRESIDENT. CHARLES LAMER. A. D. JUILLIARD, JNO.S. KENNEDY. SAMUEL THORNE, CORNELLS N. BLISS. JAS. N. JARVIE. ADRIAN ISELIN. JR . WILLIAM A. READ. Class of 1904. CMAS. LAMER r. p. OLCOTT. HENRY TALMADGE. GEORGE SHERMAN. A. D. JUILLIARD. JAMES SPEYER BOARD OF TRUSTEES. Class of 1905. GEO. MACCULLOCH MILLER, CORNELIUS N BLISS. JAS. N. JARVIE. WILLIAM A. READ, GEORGE BERTINB. JAMES N. WALLACE. Class of 1906. JOHN S. KENNEDY-. SAMUEL THORNE. ADRIAN ISELIN, JR., B. F. HYDE, J. KENNEDY TOD, HENRY EVANS. United States Trust Company OF NEW YORK 45 AND 47 WALL STREET CAPITAL $2,OOO,OOO SURPLUS AND UNDIVIDED PROFITS, $1 2,053,207 This Company is a legal depository for moneys paid into Court, and is authorized to act as Guardian, Trustee or Executor. INTEREST ALLOWED ON DEPOSITS LYflAN J. QAQE, Pres. D. WILLIS JAMES, Vice-Pres. JAMES 5. CLARK, Second Vice-Pre.s. HENRY L. THORNELL, Secretary. LOUIS G. HAHPTON, Assistant Secretary. TRUSTEES JOHN A. STEWART, Chairman of the Board SAMUEL SLOAN D. WILLIS JAMES JOHN HARSEN RHOADES ANSON PHELPS STOKES JOHN CROSBY BRO\VN EDWARD COOPER W. BAYARD CUTTING CHARLES S. SMITH WM. ROCKEFELLER ALEXANDER E. ORR WILLIAM H. MACY, JR. WM. D. SLOANE GUSTAV H. SCHWAB FRANK LYMAN GEORGE F. VIETOR JAMES STILLMAN JOHN CLAFLIN JOHN J. PHELPS JOHN S. KENNEDY D. O. MILLS LEWIS CASS LKMYARD MARSHALL FIELD LYMAN J. GAGE The Farmers' Loan and Trust Company, CHARTERED itoa. 16, IH, mo * mm WILLIAM BXKEEX, vi w VORK. CAPITAL, $1,000,000.00 UNDIVIDED PROFITS, 7,000,000.00 The Company is a legal depositary for moneys paid into Court, and is authorized to act as Executor, Administrator, Trustee, Guardian, Receiver, and in all other Fiduciary capacities. Acts as Trustee under Mortgages made by Railroad and other Corpora- tions, and as Transfer Agent and Registrar of Stocks and Bonds. Receives deposits upon Certificates of Deposit, or subject to check and allows interest on daily balances. Manages Real Estate and lends money on bond and mortgage. Acts as Agent for the transaction of any approved financial business. EDWIN S. MARSTON, President. THOS, J. BARNETT, 2d Vice-President. SAMUEL SLOAN, JR., Secretary. AUGUSTUS V. HEELY, Asst. Secy. WILLIAM B. CARDOZO, Asst. Secy. CORNELIUS R. AGNEW, Asst. Secy. BOARD OF DIRECTORS. SAMUEL SLOAN, JAMES STILLMAN, MOSES TAYLOR PYNE, WILLIAM WALDORF ASTOR, HENRY A. C. TAYLOR, S. S. PALMER, D. O. MILLS. D. H. KING, JR., CI.EVELAND H. DODGE, RottKT K. B ALLAKTIKE, ROBERT C. BOYD, JOHN L. RlKER, NUN D. LOCKE, E. R. HOLDEN, DANIEL S. L.AMONT, GCCMGE F. BAKER, WILLIAM ROWLAND, HENRY HENTZ, V. G. ACKEW, EDWARD R. BACON, H. VAN RENSSELAER KENNEDY HENRY H. ROGERS, ARCHIBALD D. RUSSELL, l> A17CHINCL03S, EflWIN S. MARSTON, P. A. VALENTINE. II K M A \ DOWD, OAKLEIGH THORNE, President. S. D. SCUDDER, F. L. HILTON, W. H. CHESEBROUGH, G. M. WYNKOOP, Treasurer. Secretary. Vlce-Pres. F. W. BLACK, F. C. PREST, Auditor. Assistant Secretary. J. R. BURNET, CARLETON BUNCE, Attorney and Trust Officer. Assistant Secretary. RECEIVES DEPOSITS, SUBJECT TO CHECK. PAYS INTEREST ON DAILY BALANCES. of 2De0criptton* ACTS AS REGISTRAR AND TRANSFER AGENT. ACTS AS FISCAL AGENT FOR UNDERWRITINGS AND SUBSCRIPTIONS. American Crust Company, CAPITAL AND SURPLUS, $5,000,OOO. 135 BROADWAY. TRUSTEES HORACE E. ANDREWS, Pres. Cleveland Electric Railway Co., Cleveland. C. T. BARNEY, Pres. Knickerbocker Trust Co.. N. Y. AUGUST BELMONT, Banker, New York. H. S. BLACK, Chairman Board of Directors, U. S. Realty & Con. Co., New York. WILLIAM H. CHESEBROUGH, Pres. Century Realty Co., New York. HEMA1V DOWD, Vice-Pres. North American Trust Co., New York. CLEMENT A. GRISCOM, Pres. International Mercantile Marine Co., New York. H. B. HOLLINS, H. B. Hollins & Co., New York. JOHN HONE, John Hone & Co., New York. JAMES JOURDAN, Pres. Brooklyn Union Gas Go., B'klyn. DAVID H. KING, Jr., Pres. New York Dock Co., New York. JAMES S. KUHN, Pres. Pittsburgh Bank for Savings, Pittsburgh. CHARLTON T. LEWIS, Director International Bell Telephone Co., New York. WM. LOGAN, Cashier Hanover National Bank, N. Y. ALLAN McCULLOH, Counsellor-at-Law, New York. JOHN M. MACK, Philadelphia. JOY MORTON, Joy Morton & Co., Chicago. WILLIAM R. NICHOLSON, Pres. Land, Title and Trust Co., Phila. JOSEPH J. O'DONOHUE, Jr., Pres. Brooklyn Ferry Co., New York. E. C. POTTER, Real Estate, New York. WILLIAM A. READ, Vermilye & Co., New York. JOHN J. RIKER, Merchant, New York. HENRY F. SHOEMAKER, Chairman of Ex. Com., C., H. & D. Ry. Co., New York. SAMUEL SPENCER, Pres. Southern Ry. Co. SAMUEL THORNE, New York. EDWIN THORNE, New York. OAKLEIGH THORNE, Pres. North American Trust Co., N. T. JOHN C. TOMLINSON, Director of New Amsterdam Gas Co.. New York. ROBERT B. VAN CORTLANDT, Kean, Van Cortlandt & Co., New York. WARNER VAN NORDEN, Director Home Insurance Co., N. Y. P. A. B. WIDENER, Philadelphia. B. F. YOAKUM, Pres. St. Louis & San Francisco RR. Co., St. Louis, Mo. New York .... 59 Wall Street Philadelphia, 4th and Chestnut Streets Boston ...... 50 State Street ALEX. BROWN & SONS, BALTIMORE ALL CONNECTED BY PRIVATE WIRE Members of New York, Philadelphia and Baltimore Stock Exchanges. Orders for purchase and sale of Stocksf Bonds and all Investment Securities promptly executed. I INTERNATIONAL CHEQUES Commercial and Travelers' Letters of Credit, available in all parts of the world, issued upon satisfactory terms. Bills of Exchange and Cable Transfers bought and sold. * COLLECTIONS MADE ON ALL POINTS Deposit Accounts received upon favorable terms; also Issue Certificates of Deposit payable on demand, or at a stated period. BROWN, SHIPLEY & CO Founder's Court, Lothbury, London AND FOR THE SPECIAL CONVENIENCE OF TRAVELERS 123 Pall Mall, S. W, c, Street Railway and Traction Companies, Industrial and Other Corporations and statements ol the debts of the United States. (he several Stales. >Iunici])aliti(^s etc. EFFINGHAM WILSON, R OYAL EXC H AN G E LONDON. n\ > r ^ r. '/ <% . Y M ; sjfi t ,- * -<. American Bank Note Company 78 TO 86 TRINITY PLACE NEW YORK BANKNOTE NEWYORK"] BUSINESS FOUNDED 1795 AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steef plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS couuumcATioita MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE COTYWOMT, 1*03, BY POOR'S RAILROAD MANUAL CO. PHILADELPHIA MODERN MACHINE TOOLS BORING AND TURNING MILLS For Work From 6O Inohes To 28 Feet Diameter CRANES SHAFTING TURNTABLES INJECTORS POOR'S MANUAL FOR 1903, GENERAL INDEX. The statements presented in this number of the MANUAL are arranged in four sec- tions— the first (pages 1 to 879) comprising the statements of all the Steam Railroads in the United States and Canada and the chief ones in Mexico; the second (pages 881 to 1137) comprising the statements of all the Street Railway and Traction Com- panies in the United States; the third (pages 1138 to 1281) containing statements of the leading Industrial Corporations and Organizations Auxiliary to the Railway Inter- ests; and the fourth (pages 1283 to 1429) containing statements showing the Finances and Resources of the United States, the several States, and the chief Counties, Cities, and Towns in the country. Following i-; a complete TABLE OF CONTENTS. PA.GES Statements of Steam Railroads in the United States 1 to 796 Dominion of Canada, Steam Railroads in 797 to 853 Mexico, Chief Railroads in 854 to 879 Street Railways, Department of 881 to 1 137 Miscellaneous Corporations, Department of 1138 to 1281 United States, Finances and Resources of 1283 to 1286 State and Municipal Indebtedness, Department of 1287 to 1429 Dividends Paid by Steam Railroad Companies.— 1896 to 1903 1430 to 1445 " Street Railroad Companies.— 1896 to 1903 1446 to 1453 " Industrial Corporations.— 1896 to 1903 1452 to 1459 Annual Meetings and Transfer Agencies, Steam Railroads 1460 to I486 Street Railways 1487 to 1499 Industrial Corporations 1500 to 1503 Postscript and Addenda, containing information received too late for insertion in its regular order 1504 to 1594 Directory of Railway Officials. — List of Officers of Operating Roads in the United States and Canada, and of the Chief Railroads in Mexico 1595 to 1675 Classified Index to Advertisers 1 677 to 1720 Railroads Merged in Other Lines. (See Lists following Part 4 of General Index. ) LIST OF MAPS. BETWEEN PAGES 1. — Maine, New Hampshire and Vermont. Intro. & 1 2. — Massachusetts, Rhode Island and Con- necticut 32-33 3.— New York 68-69 4. — New Jersey and Pennsylvania 96-97 6. — Delaware, Maryland, Virginia and West Virginia 128-129 6. — North Carolina and South Carolina 224-225 7. — Georgia and Alabama 224-225 8.— Florida 256-257 9. — Kentucky and Tennessee 288-289 10. — Mississippi, Arkansas and Louisiana. . . .288-289 11.— Ohio 352-353 12.— Indiana 384-385 BETWKEN PAGES 13.— Illinois 416-417 14. — Michigan and Wisconsin 440—441 15. — Iowa and Missouri 480-481 16.— Oklahoma & Indian Territory & Texas.. 480-481 17. — Utah, Colorado, Arizona and New Mex- ico 512-513 18. — Nebraska and Kansas 544-545 19.— North Dakota, South Dakota and Min- nesota 584-585 20. — Montana, Wyoming and Idaho 608-609 21.— Washington and Oregon 640-641 22. — California and Nevada 640-641 23. — Canada, Eastern Section .800-801 24. — Canada, Western Section 832-833 IMM..X MI. AM UAILUOAMS. GENERAL INDEX — Part 1 : Steam Railroads in the United States, Canada and Mexico. Th«« name« of the Railroad Companies following are the present titles of tin- companies whose statements are given in the MANUAL. Many of tli«> rai In mils comprise lines constructed under different names. A list is •BMndedtottti General Index (following part 4) of former companies, the tit 1.x i.f which have been changed, or whose lines have been acquired by others, with the name of the company to whose statement reference is now to be made. strum AbbotsfordA Northeastern RR.f . . 444 Aberdeen & Aaheboro Ry.*t 272 AlMTdven A Rockfish RR.f 272 A.I.IUon RR. (Rutland RR.)*f 38 Addition & Susquehanna RR. (B. & SU 1509 A.l.h ston & Ohio River RR 444 A.l.-na RR 444 Ahnapee & Western Ry 444 Akron & Barberton Belt RR.f 444 Akron & Chicago Junction RR. (B. AC.) 61 Alabama, Map of .... Bet. pp. 224 and 225 Alabama— State.County & City Debts 1287 Alabama — Street Railways in 881 Alabama A Tombigbee RR.f 1596 Alabama & Vicksburg Ry.*t 290 Alabama Great Southern RR. (So. Ry )t 263, 1533 Alabama Great Southern Ry. Co. (Ltd ) (So. Ry.)*f ." 262 Al:tl>nma, New Orleans, Texas A Pa- cific June. Ryu. Co., Ltd 288 Alameda A San Joaquin RR 668 Alamorgordo & Sacramento Moun- tain Ry (X. M. Ry. & C.)t 527 Albany 4 Northern Ry.f 272 Albany & Susquehanna RR. (D & II <».)«t 80 Albany A Vermont RR. (D. A H Co.)»t ... 81 Albi-rta Ry. A Coal Co.f 836 Albert Lea A Southern RR. (III. •'•) 392 St«am Rallroad». PAGE Albert Southern Ry.f 837 Albia & Centerville Ry.*t 619 Alexander & Rich Mountain Ry.f - . . 1533 Algoma Central & Hudson Bay Ry. (The)f 837 Allegheny & South Side Ry . f 1 67 Allegheny A Western Ry. (B. R. & P.)*t 74 Allegheny Junction RR 167 Allegheny Terminal Ry. (B. R. & P)t 74 Allegheny Valley Ry. (Pa. RR.)f 720 Allentown RR. (P. & R.)f 147 Allentown Terminal RR. (C. RR. of N. J.)(P. &R.)*f 147,153 Alton Terminal Ry. (C. P. & St. L.). . 366 Altoona & Beech Creek RR.f 167 Ames & College Ry.f 619 Amsterdam, Chuctanunda & North- ern RR. (N. Y. C. & H. R).f. ..... 126 Angelina & Neches River RR. t 557 Annapolis & Chesapeake RR. (B. & A. S. L.) 168 Annapolis, Wash. & Baltimore RR. . . 168 Ann Arbor RR. (Afap)f 324, 1533 Apalachia RR 1534 Aransas Harbor Terminal Ry 557 Arcadia & Betsey River RR.f 444 Arcata & Mad River RR.f 668 Arizona, Map of Bet. pp. 512 and 513 Arizona— State, County and City Debts .* 1289 Arizona — Street Railways in 837 Arizona & Colorado RR 1597 Arizona & New Mexico Ry.f 669 Arizona A Utah Ry. f . . . '. 669 «„ 31 KIDDER, PEABODY & Co 115 Devonshire Street, Boston, Mass. INVESTMENT SECURITIES Foreign Exchange Letters of Credit BANK OF MONTREAL. (ESTABLISHED 1817.) I.VCORPORA TED BY ACT OF PARLIAMENT, CAPITAL (All paid uf) • • $13,379,24000 RKSKRVED FUND 9," 00,000 00 UNDIVIDED PROFITS 7 -'1,807 75 HEAD OFFICE— MONTREAL. BOARD OF DIRECTORS. RT. HON. LORD STRATHCONA AND MOUNT ROYAL, G.C.M.G., President. Hox. G A. DRUMMOND, Vice-President. A. T. PATERSON, ESQ. E. B. GREENSHIELDS, ESQ. SIR WILLIAM C. MACDONALD. R. B. ANGUS, ESQ. A. F. GAULT, ESQ. JAMES Ross, ESQ. R. G. REID, ESQ. E S. CLOUSTON, General Manager. A. MACNIDER, Chief Inspector, and Superintendent of Branches. W. S. CU>USTON, Inspector of Branch Returns. F. W. TAYLOR, Assistant Inspector. JAMES AIRD, Secretary. BRANCHES : JN CANADA : Manager. Province of Manitoba and Northwest Territories. WINNIPEG, Man. CALGARY, Alberta. LETHBRIDGE, Alta. RAYMOND. Aita. REGINA, Assiniboia. Province of Brit. Columbia. GREENWOOD, NELSON, NEW DENVER. N. WESTMINSTER, ROSSI, AND. VANCOUVER, VERNON, VICTORIA. IN NEWFOUNDLAND: ST. JOHN'S BANK OF MONTREAL. BIRCHY COVE, BAY OF ISLANDS - BANK OF MONTREAL. IN GREAT BRITAIN: LONDON, BANK OF MONTREAL, 22 Abchurch Lane, E. C., ALEXANDER LANG, M 'anager. IN THE UNITED STATES: NEW YORK, R. Y. HEBDEN and J. M. GREATA, Agents, 59 Wall Street. CHICAGO, BANK OF MONTREAL, J. W. DE C. O'GRADY, Manager. SPOKANE, WASH., BANK OF MONTREAL. BANKERS IN GREAT BRITAIN: MONTREAL - - - H. V. MEREDITH, PROV. OF ONTARIO. PROV. OF ONTARIO. PROV. OF QUEBEC. ALMONTE, BELLEVILLE, BRANTFORD. UNDSAY, LONDON, OTTAWA, MONTREAL, " West End Br. " Seigneurs St. Br. " Point St. Charles. BROCK VI LLE. PARIS. QUEBEC. CHATHAM, PERTH, COLLINGWOOD, PETERBORO, LOWER PROVINCES. CORNWALL, PICTON, CHATHAM, N B. DESERONTO. SARNIA, FREDERICTON, " FORT WILLIAM. STRATFORD, MONCTON, GODER1CH, ST. MARYS, ST JOHN. " GfEl.PH. TORONTO, AMHERST, N.S. GLACE BAY, " HAMILTON, Yonge St. Br. HALIFAX, " KINGSTON, WALLACE3URG. SYDNEY, LONDON, THE NATIONAL PROVINCIAL BANK OF ENG., LTD. LIVERPOOL, THE BANK OF LIVERPOOL, LTD. SCOTLAND, THE BRITISH LINEN COMPANY BANK, AND BRANCHES. BANKERS IN THE UNITED STATES: LONDON, THE BANK OF ENGLAND. " THE UNION BANK OF LONDON and SMITH'S BANK, LTD. THE LONDON AND WESTMINSTER BANK, LTD. NEW YORK, THE NATIONAL CITY BANK. THE BANK OF N. Y., N.B.A. NAT. BANK OF COMMERCE IN NEW YORK WESTERN NATIONAL BANK. BOSTON, THE MERCHANTS NAT. BANK. BOSTON, J. B. MOORS & Co. BUFFALO, THE MARINE BK., BUFFALO. SAN FRANCISCO, THE FIRST NAT. BANK. " THE ANGLO - CALIFOR- NIA BANK, LTD. GENERAL INDEX STEAM RAILROADS. Steam Railroads. PAGE Arkansas, Map of .... Bet. pp. 288 and 289 Arkansas — State, County and City Debts 1290 Arkansas — Street Railways in 883 Arkansas & Louisiana Ry. (Mo. P.)f . 521 Arkansas Central RR. (Mo. P.)f 521 Arkansas Midland RR. (Mo. P.)t 521 Arkansas Southeastern Ry 1597 Arkansas Southern RR.*f 557 Arkansas Southwestern Ry.f 557 Arkansas Western RR.f 557 Arlington RR. (Erie). 99 Arnot & Pine Creek RR. (Erie) 99 Aroostook River RR. (Can. Pac.). ... 814 Ashland Coal & Iron Ry.*t 316 Ashland, Siskiwit & Iron River Ry. . . 1597 Asi oria & Columbia River RR. t 669 Atchison & Eastern Bridge Co. (The) f 558 Aichison, Topeka, & Santa Fe Ry. System (The)*f 460, 1534 Atlanta & Birmingham Air Line Ry. 1561 Atlanta & Charlotte Air-Line Ry. (So. Ry.)*t 258 Atlanta & West Point RR.*f 198 Atlanta Belt Line (Atlanta & W. P.)*t 199 Atlanta, Knoxville & Nor. Ry. (L. & X.)t 307, 1534 Atlantic & Birmingham RR.f. . . 272, 1534 Atlantic & Danville Ry. (Southern Ry.)*f " 258, 1534 Atlantic & Lake Superior Ry 837 Atlantic & North Carolina RR.*f 273 Atlantic & Northwest Ry. (Can. Pac.) 813 Atlantic & St. Lawrence RR. (Gr. Tr.)*f 829 Atlantic & Yadkin Ry. (So. Ry.) 258 Atlantic City RR.(p"&R.)t." 150 Atlantic Coast Line Company* 199 Atlantic Coast Line RR.(A/ap)*f 202, 1535 Atlantic, Suwannee Riv. & Gulf RR. (S.A. L.)t 245 Attleborough Branch RR.(Old Col.)*f 32 Augusta & Savannah RR. (C. of G.)*f 215 Augusta & Summerville RR 1599 Augusta Belt Ry. (Ga. RR.)t 228 AuRusta Southern RR. (So. Ry.)f. . . 260 Augusta Terminal Ry. (Ch. & W. C.) . 209 An Sal,],- \- NOrthwcstcrn RR 444 Avon,- Geneseo & Mt. Morris RR. (Erie)*t.. 101 Steam Railroads. PAGE B Bachman Valley RR. of Md.f 168 Bainbridge Northern Ry 1599 Bald Eagle Valley RR. (Pa. RR.)*f. . 721 Bait. & Annapolis Short Line RR.*f . 16r. Baltimore & Cumberland Vy. RR. (Wn. Md.)f 162 Baltimore & Cumberland Valley RR. Extension (Wn. Md.)*t 162 Baltimore & Cumberland Vy. Ry. (Wn. Md.) 162 Baltimore «fc Harrisburg Ry. (Wn. Md.)*f 162 Baltimore & Harrisburg Ry., East. Ext. (B. &H.)f " 163 Bait. & Harrisburg Ry., West Ext. (B. &H.) 163 Baltimore & New York Ry. (B. & O.) 61 Baltimore & Ohio RR. (A/ap)*f . . 47, 1535 Baltimore & Ohio & Chicago RR. (B. & O.) 61 Bait. & Ohio Conng. RR. (B. & O.) . . 61 Baltimore & Ohio Southwestern RR. (B. &O.)t 61 Baltimore & Philadelphia RR. (B. &O.) 61 Baltimore & Potomac RR. (P. W. &B.) 746 Baltimore & Sparrow's Point RR.f . . 168 Baltimore Belt RR. (B. & O.) 61 Baltimore, Chesapeake & Atlantic Ry. (Pa. RR.)t 730 Bangor & Aroostook RR. (A/ap)f. .1, 1535 Bangor & Portland Ry.(D., L. & W.)* 87 Bare Rock RR.f 168 Barnegat RR. (M. & L. B. Tr. Co.)t. - 182 Barre Branch RR. (Montp. & W. R.)*f 43 Barre RR 40 Bath & Hammondsport RR.fv 169 Battle Creek & Sturgis Ry. '(Mich. Cent.)t 418 Bay City & Battle Creek Ry. (Mich. Cent.)t 419 Bayfield Harbor & Great Western Ry. 445 Bayfield Transfer Ry 445 Bay of Quinte Ry.*f 838 Bay Ridge & Annapolis RR. (B. & O.) 62 Bay Terminal RR 445 Bearden & Ouachita River Ry 1601 Beaumont Wharf & Terminal Co. (A.,T. &S. F.)t 46S Beaver & Ellwood RR. (P. & L.E.)t . 129 34 F. H. PRINCE & CO. Corner State and Devonshire Streets BOSTON, MASS. BOND * GOODWIN BANKERS AND BROKERS 27 CONGRESS SQUARE, BOSTON, MASS. 226 LA SALLE STREET, CHICAGO 30 BROAD STREET, NEW YORK DEALERS IN COMMERCIAL PAPER INVESTMENT SECURITIES Loans on approved collateral made and negotiated with Banks, Trust Companies and other Institutions LOANS TO CORPORATIONS NEGOTIATED FOR SHORT OR LONG PERIODS GENERAL INDEX STEAM RAILROADS. 35 Steam Railroads. PAGE Beaver Creek RR 1601 Beaver Dam RR.f 316 Beaver Meadow, Tresckow & New Boston RR.f 1601 Beaver Valley RR 169 Bedford & Bridgeport Ry.(Pa. RR.)*f 728 Bedford Belt Ry. (So. Ind. Ry.)t 431 Bedford Stone Ry 445, 1535 Bedlington & Nelson Ry. (Koot. Ry. AN.) ". 844 Brrch Creek RR.(N. Y. C. & H. R.)*t 120 Brrch Creek Extension RR. (N. Y. C. &H. R.)f 120 Bi-lfast & Moosehead Lake RR. (Me. C.)*t 22 Belington & Beaver Creek RR 1601 Belington & Northern RR 1601 Bellefonte Central RR.f 169, 1535 Bellingham Bay & British Columbia RR.f 669 Bellingham Bay & Eastern RR. (No. Pac.) 605 Belt Line Ry. (Montgomery, Ala.) . . . 1601 Belt RR. & Stockyard Co. (Ind. U. Ry.)*t 452 Belt Ry. of Chattanooga (Ala. Gt. So.)f. 265 Belt Ry. Co. of Chicago (The)*f 445 Belvidere Delaware RR.(Pa. RR.)*f. 721 Benwood & Wheeling Connecting Ry. (U. S. Steel) 1253 Bergen & Dundee RR. (Erie) 100 Bergen County RR (Erie) 100 Berkeley RR 1601 Berkeley Springs & Potomac RR. (B. & O.) 61 Berkshire RR. (N. Y., N. H. & H.)*f. 29 Berlin Branch RR.f 169, 1535 Berlin RR. (B. & O.)f 61 Bessemer & Lake Erie RR. (U. S. Steel) 1253 Bessemer & Southwestern RR 1602 Big Falls Ry .' 445 Big Level & Kinzua RR. (B.B.& K.)t 170 Big Sandy Ry. (C. & O.)t 223 Big Stone Gap & Powell's Valley Ry . f 273 Big Stony Ry.f 1602 Birmingham & Atlantic. RR.f 316 Birmingham Belt RR. (S.L.& S.F.) . . 544 Birmingham Southern RR 317 Bismarck, Washburn & Great Falls Ry-t 619 Steam Railroads. PAGE Black Hills & Fort Pierre RR. (C., B. &Q.) 354 Blackwell, Enid & Southwestern Ry. (St. L. & S. F.) 533 Bloomsburg & Sullivan RR. t 1 69 Blue Ridge Ry. (So. Ry.) 231 Boca & Loyalton RR 1602 Bodcaw Valley RR 1602 Bodie Ry. & Lumber Co 1602 Boise, Nampa & Owyhee Ry.f 670 Booher Branch (East Br. Top.) 175 Book Cliff RR 1602 Booneville RR. Bridge Co. (M., K. & T.) 498 Boonville, St. Louis & South. Ry. (M. P.) 512 Boston & Albany RR. (N. Y. C. & H. R.)*t 120 Boston & Lowell RR. (B. & M.)*f. ... 10 Boston & Maine RR.*f 5, 1535 Boston & Maine RR. System 4 Boston & New York Air Line RR. (N. Y.,N. H.,&H.)*t 29 Boston & Providence RR.(Old Col.)*f 33 Boston,Revere Beach &LynnRR.*f40, 1536 Bowden Lithia Springs ShortLine RR. 1603 Bowling Green RR.(C., H. & D.) 373 Boyne City & Southeastern RR.f. ... 445 Bradford & West. Penn. RR.f 170 Bradford, Bordell & Kinzua Ry.f. ... 170 Bradford Ry.(W. N. Y. & P.) (P.RR.) 727 Bradshaw Mountain RR. (S. Fe., P. &P.) 471 Branchville & Bowman RR.f 273 Brattleboro & Whitehall RR. (N. L. N.) (Cent. Ver.)f 19, 1536 Bridgton & Saco River RR.*f 40 Brinkley, Helena & Indian Bay RR. (Mo. P.) 522 Bristol RR.f 40 Brockport & Shawmut RR. (N. Y., L. E. &W. C. & R. Co.) 100 Brockville, Westport & Sault Ste. Marie Ry 838, 1568 Brookfield Ry 1603 Brooklyn & Jamaica RR. (Long Isl.) 738 Brooklyn & Rockaway Beach RR.*f. 170 Brooksville & Hudson RR 1603 Brookville Ry.t 170 Brownstone & Middletown RR.f. . .. 171 Brownsville & Gulf RR. (Nat. RR. of Mex.) 872 • ; r.NKKAL INDEX — STEAM RAILROADS. Steam Railroad*. PACE Brunswick & Birmingham UK... 273, 1536 Bruiiswirk A Chillicotlu- KU.(\Vab.)f 437 Bu.-k.-v,. Coal A: lly. (H. Vy.) ........ 384 Buck-port A Klk Uivt-r UU ......... 670 Buffalo A I.ak.- Hun.n Ily. ((Jr.Tr.)t. 830 Buffalo A: Suxjiirhamia UK. (.l/«/i)*t 1506 Buffalo A: Su.M|u«'hanna Ry. (Map).. 1504 KufTulii. Aitirn it Arcade UR.f ...... 171 Buffalo, Bradford & Pittsburgh RIl. Buffalo Cr.-rkRR.*t .............. 171 Buffalo Creek Transfer RR.f ........ 171 Buffalo Kri. Basin RR. (N. Y., C. & II U.)t ........................ 124 Buffalo, Rochester & Pittsburgh Ry. (.W«/»)*t ..................... 69,1536 Burlington & Western RR. (C., B. & Q.U .......................... 354 Burlington, Cedar Rapids & Northern Ry (C., R. I. &P.)*t ........... • !524 Burlington Route, Map of ........... 347 Burnside & Cumberland River Ry.f- • 317 But to, Anaconda & Pacific Ry.(Anac. Cop.)*t ................. ....... 1158 Cache Valley RR 1604 Cadiz Kit. f 317, 1537 < 'airo & Kanawha Valley RR.f 1537 Cairo, Memphis & Southern RR. and Transportation Co 1604 Cairo RR. (Catsk. Mtn.)*t 172 ( aldwell & Northern RR.f 274 Caldwcll Ry. (N. Y. & G. L.) 101 Calgary & Edmonton Ry. (Can. Pac.) 815 < 'alifornia, Map of .... Bet. pp. 640 and 641 California: — State, County and City D.l.t.s 1290 ( 'alifornia — Street Railways in 884 < 'alifornia & Nevada RR 1568 California & Northern RR. (Eel R. fc-E.) 671, 1537 < alifornia Eastern Ry. (A.T.& S.F.)f. 469 California Northw. Ry. ( Map) f. . 625, 1537 ( ambria «fc Clearfield RR.f 729 Cambria & Clearficld Ry. (Pa. RR.).. 729 Cambria Terminal UU. (Camb. Steel). 1162 Camden & Burlington County UU. (Pa. RU)*f... 721 St«am Railroads. PAI Cammal & Black Forest RR.f 171 Campbell Hall Connecting RR. (L. &N.E.)f 181 Canada Atlantic Ry.f 801, 1568 Canada Coals & Ry. Co. (Ltd.)f 838 Canada Eastern Ry 839 Canada (E.S.), Map of, Bet. pp. 800 and 801 Canada (W.S.), Map of, Bet. pp. 832 and 833 Canada, Railroads in the Dominion of, 797 Canada Southern Bridge (C. So. Ry.){ 420 Canada Southern Ry. (Mich. Cent.)*t 419 Canada — Street Railways in 1 128 Canadian Government Rys 842 Canadian Northern Ry.f 802 Canadian Pacific Ry.*t 803, 1537 Cananea Consol. Copper Co.'s RR.. N7."> Cananea, Yaqui River & Pacific RR. . 1605 Canastota Northern RR. (E. C. & N.) 687 Cane Belt RR.f 558 Cannelton Coal RR. (P., L. & W.) . . 1556 Canon City & Cripple Creek RR. (Den. &So. W.) 484 Canton, Aberdeen & Nashville RR. (111. Cent.) 393 Cap de la Magdeleine Ry. (Can. Pac.). 811 Cape Ann Granite RR 41 Cape Breton Ry 839, 1538 Cape Fear & Northern Ry 274 Caraquet Ry.f 839 Carbon County Ry. (Rio G. W.)f 482 Carillon & Greenville RR. f 839 Carolina & Northwestern Ry.f 274 Carolina Northern RR 274 Carrabelle, Tallahassee & Georgia RR.f 275 Carrollton Short Line Ry 317 Carson & Colorado Ry. (So. Pac.)t. . . 658 Carthage & Adirondack Ry. (N. Y. C. &H. R.)f 121 Carthage RR.f 275 Carthage, Watertown & Sacket's Har- bor RR. (R., W. & O.)*f 123 Cashie & Chowan RR. & Lumber Co.f 1606 Cassville & Western Ry 1606 Catasauqua & Fogelsville RR. (P. & R.)*t 151 Catawissa RR. (P. & R.)*t 147 Catonsville Short Line RR.t 1606 Catskill & Tannersville Ry.*t 171 Catskill Mountain Ry.f 172 Or (•) See. ulto. Statement of Dividends Paid. 1896-1903. pages 1430 to 1445. Inclusive; (?) Table of Annual Meetings. Transfer Agencies, etc., pages 1480-1486, Inclusive. GENERAL INDEX — STEAM RAILROADS. 37 Steam Railroads. PAGE Cayuga & Susquehanna RR. (D., L. &W.)*t 86 Central Arizona Ry.f 1606 Central Branch Ry. (The) (Missouri Pacific)! 513 Central Counties Ry. (Can. Atl.) 801 Central Dock & Terminal Ry. (P. & R.)*t 147 Central Indiana Ry 446 Cent nil New England Ry.f 75, 1538 Central of Georgia Ry. (Afap)f ..210, 1538 Central Ohio RR. (B. & O.)f 62 Central Ontario Ry.f 839 Central Pacific Ry. (So.Pac.)*f. .650, 1538 Central RR. Co. of New Jersey (P. & R.)*t 151, 1568 Central RR. of Pennsylvania! 172 Central RR. of Peoria (P. & P. T.Ry.) 457 Central RR. of South Carolina (A. C. L.) 207 Central Ry. (Ltd.) 840 Central Ry. of N. B 840 Central Trunk RR. (L. S. & M. S.).. . . 412 Central Union Depot & Ry. Co.* 1607 Central Vermont Ry.f 17 Champlain Division (D. & H. Co.).. . . 81 Charleston & Western Carolina Ry. (A.C.L.)f 208 Charleston, Clendennin & Sutton RR.f 275 Charleston Terminal Co 275 Charlotte, Monroe & Columbia RR. . . 1607 Charlottesville & Rapidan RR. (So. Ry.)...., 258 Chartiers Ry. (P. C. C. & St. L.)*f.. . . 776 Chateaugay RR.f 172, 1538 Chateaugay Ry. (Chat. RR.)t 173 Chatham RR. (Old Col.)*t 33 Chattahoochee & Gulf RR. (Cent. 'of Ga.)*f 215 Chattahoochee Valley RR.*f 275 Chattanooga Southern RR.f 317 Cheat Valley RR 1608 Cherry Run & Potomac Vy. RR. of W. Va. (B. &O.) 47 Cherry Valley, Sharon & Albany RR. (D. &H.Co.)f 81 Chesapeake & Nashville Ry 317 Chesapeake & Ohio Grain Elevator Co. (C. &0.) 223 Chesapeake & Ohio Ry. (.Map) *f. 2 15, 1569 Chesapeake & Ohio SS. Co., Ltd. (C. &0.) .223 Steam Railroads. PAGE Chesapeake & Western RR. (C. W. Ry.)t 276 Chesapeake Beach Ry.f 173 Chesapeake Western Ry 276 Chester & Becket RR. (Bost. & Alb.)t 120 Chester & Delaware River RR. (P. & R).f 154 Chester Creek RR. (Phil. & Bait. C.)*f 747 Chesterfield & Lancaster RR 1608 Chester, Perryville & Ste. Genevieve Ry 558 Chester RR. (D., L. & W.) 86 Chestnut Hill RR. (P., G. & N.)*f.. . . 149 Chestnut Ridge Ry.t 173 Chicago & Alton RR. (C. & A. Ry.)*.. 329 Chicago & Alton Ry. (The)*f 327, 1538 Chicago & East. 111. RR. (St. L. & S. F.)*t 546, 1569 Chicago & Erie RR. (Erie) 100 Chicago & Illinois Southern RR 1609 Chicago & Kalamazoo Terminal RR.. 1609 Chicago & Lake Superior Ry 1609 Chicago & Northwestern Ry.*f- . .330, 1538 Chicago & South Bend RR.f 1609 Chicago & State Line RR. (N. Y. C. & St. L.)f... 422 Chicago & Wabash Valley RR 446 Chicago & Western Indiana RR.*f. . . 343 Chicago, Burlington & Quincy RR. (Afop)*t 345 Chicago, Burlington & Quincy Ryf. 345,1539 Chicago, Cincinnati & Louisville RR.f 449 Chicago, Detroit & Canada Grand Trunk Junction RR. (Gr. Trunk)*f. 831 Chic. Great Western Ry. (Afap)*f.572, 1539 Chicago, Greenville & Southern Ry. (J. & St. L.) 355, 1539 Chicago, Illinois & Indiana Ry 1612 Chicago, Indiana & Eastern Ry.f. . . . 446 Chicago, Indianapolis & Louisville Ry. (Afap)*f 355, 1539 Chicago, Iowa & Dakota Ry. (C. & N. W.) 338 Chicago Junction Ry.*f 358 Chicago Junction Rys. & Union Stock Yards Co 1164 Chicago, Kalamazoo & Saginaw Ry.*f 447 Chicago, Lake Shore & Eastern Ry. 1570 Chic., Milwaukee & St. Paul Ry.*t.359, 1539 Chicago, Peoria & St. Louis Ry. Co. of Illinoisf 366, 1540 Chicago, Peoria & Western RR 1614 CKNKKAI. IX1»KX STEAM KAILKOAD8. Steam Railroads. PAUt Chicago, Rock Island & El Paso Ky. (C., R. I. & P.) (Map) 1531 Chicago, Rock Island & Gulf Ry.(C.. R. I. A P.) (Map.).. .. • 1531 Chicago, Rock Island & Mexico Ry. (C., R. I. & P.) (Map.) 1532 Chicago, Rock Island & Pacific RR. (Map) 1516 Chicago, Rock Island & Pacific Ry. (Afap)*f 1518 Chicago, Rock Island & Texas Ry. (C., R. I. & P.) (Afap.) 1532 Chicago, St. Paul, Minneapolis & Omaha Ry. (C. & N. W.>*f.... 340 Chicago Short Line Ry. of Ohio 1614 Chicago Terminal Transfer RR.f. 368, 1571 Chicago Union Transfer Ry. Co.f . . . . 447 Chicago, West Pullman & Southern Ry 1614 Chickawasaha & Jackson RR.* 1614 Chihuahua & Pacific RR.f 875 Chippewa River & Menominee Ry.. . . 1540 Chippewa Valley & Northern Ry.. 447, 1540 Chippewa Valley & Northwestern Ry. (C.,St. P..M. &O.) 340 Choctaw & ChickasawRR. (C.O.&G.) 1531 Choctaw, Oklahoma & Gulf RR. (C., R. I. &P.)*t 1528 Choctaw, Oklahoma & Texas RR.(C., O. & G.) 1531 Christopher & Herrin RR. (111. C.) . . 1545 Cincinnati & Dayton Ry. (C., H. & D.)t 373 Cm. & Ind. Western RR. (C. I. & L.) 446 Cincinnati & Licking River RR 1615 Cincinnati & Muskingum Valley RR. (Pa. Co.)*f 786 Cincinnati & Southern Ohio River RR. (C., C., C. & St. L.) 401 Cincinnati & Westwood RR.f 447 Cincinnati, Findlay & Fort Wayne RR 1571 Cincinnati, Hamilton & Dayton Ry. (3/ap)*t 370 Cincinnati, Hamilton & Indianapolis RR. (C.,I. AWin.) 374 Cincinnati, Indianapolis & Western Ry. (C., H. & D.) 373 Cincinnati, Lebanon & Northern Ry. (Pa. Co.)t 780 1571 295 Steam Railroads. Cincinnati, New Orleans & Texas Pacific Ry.f 295 Cincinnati Northern RR. (C., C., C. & St. L.) 405 Cincinnati, Ports. & Virginia RR. (N. & W.)f 237 Cincinnati, Richmond & Ft. Wayne RR. (G. R. &I.)f 785 Cincinnati, Saginaw & Mackinaw RR. (Gr. Tr.) 831, Cincinnati Southern Ry (C., N. O. & T. P.) Cincinnati Street Connection Ry. (L. M. )(Pa. Co.) 778 City Terminal Ry. (C. G. W.) 577 Clarendon & Pittsford RR.*t 41 Clarion River Ry. (P., S. & N.)*f .... 135 Clearfield & Mahoning Ry. (B., R. & P.)*t 74 Clearfield Southern RR.f 173, 1541 Clendenin & Spencer RR 1615 Cleveland & Mahoning Valley Ry. (Erie)*f 102 Cleveland & Marietta Ry. (Pa. Co.)t-. 770 Cleveland & Pittsburgh RR. (Pa. Co.)*f ' 766 Cleveland, Akron & Columbus Ry. (The) (Pa. Co.)*t '. . 780 Cleveland, Cincinnati, Chicago & St. Louis Ry. (N. Y. C.)*t 400, 1541 Cleveland, Lorain & Wheeling Ry. (B. &O.)*f 62 Cleveland Terminal & Valley RR. (B. &O.)*t 63 Cleveland, Wooster & Musk. Vy. RR. (B. &O.) 61 Coahuila & Pacific RR.f 876, 1541 Coahuila & Zacatecas Ry 1617 Coal & Coke Ry 1571 Coal & Iron Ry(W.Va.C.&P.)f.... 167 Coastwise Steamship Co. (Chesapeake &Ohio) 223 Colchester Ry. (B. & N. Y. A. L.) 29 Colebrookdale RR. (P. A R.)f 147 Colfax Northern RR.f 619 Collins & Reidsville RR.f 276 Colorado, Map of Bet. pp. 512 and 513 Colorado— State,County & City Debts 1292 Colorado — Street Railways in 892 Colorado & Northwestern Ry.f 558 yr (•) See. also. Statement of Dividends Paid. 1896-1903. pages 143O to 1445 Inclusive; Table of Annual Meetings. Transfer Agencies, etc., pages 1460-1486 Inclusive. GENERAL INDEX STEAM RAILROADS. Steam Railroads. PAGE Colorado & Southern Ry.*t 471 Colorado & Wyoming Ry. (Col. Fuel & I.) 1169 Colorado Eastern RR. f 558 Colorado Midland Ry. (The)f 474 Col. Spgs. & Cripple Ck.Dist.Ry.f559, 1541 Columbia & Kootenay Ry. (Canadian Pacific) 811 Columbia & Port Deposit Ry. (P. W. & B.)*f 746 Columbia & Puget Sound RR. (Pac. Coast)f 1212 Columbia & Red Mountain Ry. (G. N.)*t "588 Columbia, Newberry & Laurens RR.f 276 Columbia River & Northern Ry 1618 Columbia Southern Ry.f 670 Columbus & Cincinnati Midland RR. (B. &O.) 62 Columbus & Lake Michigan Ry 1541 Columbus & Southern Ry 1572 Columbus & Xenia RR. (L. M.) (Pa. Co.)*f 778 Columbus Con. & Ter. RR.(N.&W.)f. 237 Columbus, Findlay & Northern RR. (C., H. &D.)f 373 Columbus, Hope & Greensburg RR. (C.,C., C. &St. L.)f 404 Columbus, Kinkora & Springfield RR. (Pa. RR.)f 721, 1541 Columbus Terminal & Transfer RR. f. 154 1 Columbus, Wellston & Southern RR. 1572 Colusa & Lake RR.*f 670 Concord & Claremont RR. (No. RR. of N. H.)t 15 Concord & Montreal RR. (B. & M.)*f 11 Concord & Portsmouth RR. (Cone. & M.)*t 12 Conesus Lake Ry. (Erie) 100 Confluence & Oakland RR. (B. & O.) 61 Congress Consolidated Mines Co., Ltd., RR 670 Connecticut, Map of ... .Bet. pp. 32 and 33 Connecticut — State, County and City Debts 1293 Connecticut — Street Railways in .... 894 Connecticut & Passumpsic Rivers RR. (B. &L)*f 10 Connecticut River RR. (B. & M.)*t. • 13 Connecting Ry (Pa. RR.)*f 721 Connecting Terminal RR.*f 174 Conway-Seashore RR 1618 Steam Railroads. PACK Cooperstown & Charlotte Valley RR. (D. &H. Co.)f 82 Cooperstown & Susquehanna Vy.RR.f 82 Coosa Valley RR 1618 Coos Bay, Roseburg & E. RR. & Nav. Co.f 670 Copper Range RR.f 447, 1541 Cornwall RR.*f 174 Cornwall & Lebanon RR.*f 174 Coronado RR.f 671 Corvallis & Eastern RR.f 671 Cotton Belt & Northern Ry 1618 Cotton Belt Route, Map of 548 Coudersport & Port Allegany RR.*f.. 174 Covington & Cin. Elev. RR. & Tr. & Br. Co. (C. &O.)t 223 Crawford & Manistee River Ry.f 448 Credit Valley Ry. (Ont. & Que.) 813 Cresson & Irvona RR. (Camb. & Clear.) t 729 Cromwell Steamship Co. (The) (So. Pac.) 658 Crooked Creek RR. & Coal *f 619 Cross Creek RR 1572 Crow 's Nest Southern Ry . (Gr. No. ) . . 580 Crystal Ry 559 Crystal River RR. (Col. F. & I. Co.). . 1169 Cumberland & Penn. RR.(Cons.Coal)f 1174 Cumberland Ry . & Coal Co. f 840 Cumberland Valley & Martinsburg RR. (Cumb. Vy.)f 733 Cumberland Valley & Waynesboro RR. (Cumb. Vy.)f 734 Cumberland Valley RR. (Pa. RR.)*f. 732 Dakota & Great Northern Ry. (G. N.) 579 Dakota Pacific RR 620 Dallas & Waco Ry. (M. K. & T.) 498 Dallas Term. Ry. & Union Dep. Co. (St. L. So. Wn.)f 553, 1559, 1572 Danbury & Norwalk RR. (N. Y., N. H. & H.)*f 29 Dansville & Mt. Morris RR. f 175 Danvers RR. (B. & M.)t 14 Danville & Western Ry. (So. Ry.)t. . 261 D'Arbonne Valley RR 1619 Dardanelle & Russellville Ry.f 559 Darien & Western RR.f 276 Davenport, Rock Island & North- western Ry.f. 3^4 40 • ;i.M.i;.\i. IMM:\ — STKAM RAILROADS. Railroad!!. PAGE Dawson Ry. :i\ton A- Union IJK.-i 375 Dayton \- Western RR. (L. M.) (Penn. Co.).. .. ; 778 Da\ ton. Lebanon A: Cineinnati RR.f. 448 Deepwater RE. (C. &O.)t 216 D. Kalb&Gt. Western Ry. (C.G.W.). 577 Delaware. Map of ... .Bet. pp. 128 and 129 Delaware — State, County and City Debts 1297 Delaware — Street Railways in 900 Delaware & Bound Brook RR. (P. & R.)*t 147 Delaware & Hudson Co. (The)*t. .76, 1541 Delaware, Lackawanna & Western RR. (Jl/op)*t 82 Delaware, Maryland & Virginia RR. (P., W. & B.)f 747 Delaware RR. (The) (P. W. & B.)*f.. 746 Delaware River RR. & Bridge (P. RR.)*t 728 Delaware, Susquehanna & Schuylkill RR.*f 89 Delaware Valley & Kingston RR. (Erie) -. 92 Delaware Valley RR.f 175 Delong & Chamberlain RR. (M. & X. W.) 622 Denison & Pacific Suburban Ry. (T. & P.) 557 Denison, Bonhatn & Xew Orleans RR. (M. K. &T.) 498 Denver& RioGrandeRR.(Map)*f476, 1542 Denver & Southwestern Ry.*t 484 Denver, Lakewood & Golden RR.f.. . 559 Depew & Tonawanda RR. (L. V.).. . . 688 De Queen & Eastern RR 1620 DCS Moines & Fort Dodge RR. (C., R. I. &P.)*t 1523 Des Moines, Iowa Falls & Xorthern Ry.J 620 Des Moines Union Ily.f 620 Detroit & Bay City RR. (Mich. Cent.) 419 Detroit & Charlevoix RR.f 448 Detroit & Chicago RR. (L. S. & M.S. ) 412 Detroit & Mackinac Ry.*f 375, 1572 I )et roit .\l><. Eagle* Mere RR. (W A X B. RR.)t. 197 EMI A Wert RR 1572 K.I.I Berlin RR 1572 E«*t Broad Top RR A Coal Co f .... 1 7-> Ewit Carolina Ry 277 EMtera Kentucky Ryf 318 EMtern Maine Ry ( Me Cent.) *f. . 23 Eastern Ohio RR . (B AO.) 61 EMtern Oklahoma Ry (A ,T A 8. Fe) 461 EMtern Ry. of Alabama 318 EMtern Ry. of Minnenota (Gt. Nor.) . 586 EMtern TCXAM RR 560 Eaiit Jordan A Southern RRt 449 Eaat Louisiana RRt 318 Rant Mahanoy RR (P. A R )*f 147 Eaiiton A Amboy RR. (L. V. of N. J.)f 687 Ka*ton A Northern RR. (L. V.)f 686 Ea»t Pennaylvania RR (P A R.)*t. - 147 Kant St F,oui* A Carondelet Ry. (T. RR. Aa.)f 568 Ea*t St Louis Connecting Ry.f 449 Eajit Tenn A We»t.No.Carolina RR.f- 277 Kant Trenton RR (P. A R )f 147 Eau Claire, Chippewa Fall* A North- eatttern Ry. (C., 8t. P , M. A O.). . . 340 Ebennburg A Black Lick RR. (Camb. AH)t 730 K.l«lv»tr,t.«- A Delaware River RR.*f 175 K • i lUml KU •.•lllhtTIt UU vllu-)V \ « 1 ••• •-'UMV KN 1573 ih« A- liulcm SJMIKCS KN ,, i> KU *t ITU <>-n KN 1023 t-tMircUU 1024 rnRK MJU. IA73 ••< UN 1024 UU I ^ A M - •« n « U% *f. ... L Jk 8 I •M-mn:Ul UN < n 2S8 shn A lihun Ui: A i a N h u \ \ •.. v»hui I KU (Pa UU ^ TM N UN !..;•- -nun V:»U.-\ uu .: A >:ili VnUUlio 589 UK t U\ ltt. \ \ , UUK UU •* NftVatt^OftMl UK N\ N \ A r r,ruo^> Vnllvy IVnuiniU KU N\ \ ^ A r i«M»r^V Tn^k A rumhrrldml U U cv^YaJloy UK Uwrftvlvnxu A \\\>u-ru UK • Q«ort«towa UU (\\\i fcG N cia. M»|» of *»Vi w •-V SltmM ltMilwM>>iu ' UN kkb«u*R) * UN (8(1 UN • U\ ' HM \\VMrrnlUl.t < l.-UUKK ml«U»iu UK (\ J A r«.Mi'. Nrl.rtlrm A Ptdft UN - iloalwtt A l^okriu-Nx „ U N \\\\-\\\ A «'-NN, C:U> lu-- UU (K A U U (1 MMnrut U\* >r«UJul:»> il» O|M'n»- n- (5r»ftun & IMiuptftt UK (M A 1> ) A Unins««»-k UU .. A Ipt^n UU *< Unni- 1 ' & Si«mliwi*t- 0' M K. \ : : 27\» b UU A •\nlu-rn A rU.n\l.-» UN *< 22W, N*JMirsAIUrr»slM»i:Ux > V A K (1 Uiln YrtlU-y. I;MM' A \«.rlli^ni UN r.huJr rix . -k A Unlcinh HU NN UN ' 27t» ;.vi 27tl 1543 224 1543 T3t» 2T» IT; 072 102 121 01 TR2 UinmlTrunk \V.-t..n 1; if MRlKy (St . I. .V W.)*f 8G Greenville & Hudson Ry. (L. V. of N .1.) 687 Cireenwich «t Johnsonvillc Ry.*t 178 Greigsvillefc Pearl Creek RR 1627 Groves & Sand Ridp- RR. (111. C.) . . . 1545 Quelph Junction Ry. (Can. Pac.). . .. 812 Gulf A: Chicago RR.*f 319, 1575 Gulf & Interstate Ry. of Texasf . .560, 1544 Gulf & Ship Island RR. (Map)\ 1509 Gulf, Beaumont & Great Northern RR. (G. B. &K. C.)t 469 Gulf, Beaumont & Kansas City Ry. (A..T. &S. F.) t 469 Gulf, Colorado & Santa Fe Ry. (A..T. &S. F.) 467 Gulf Shore Ry 842 Gulf, Western Texas & Pacific Ry. (S. P.)f 660 Gunpowder Valley RR 1627 Guthrie & Western Ry. (A., T. & S. F.) 461 Guyandot Valley Ry. (C. & O.)f 223 Hackensack & Lodi RR. (N. Y., S. & W.) 106 H:ilifax&Yarm'thRy.,The(Ltd.)t842, 1544 Hampton & Branchville RR.f 280 Hampton & St. Martin 's Ry 843 Hancock & Calumet RR. (Min. R.)*f. 456 Hannibal Union Depot Co.f 560 Hanover & Newport RR. (D., L. & W.) Harbor Springs Ry 1627 Hanhvick & Woodbury RR 42 Harlem River & Portchcster RR. (N Y..N. H. &H.)t 29 Harrirnan & Northeastern RR.f 319 Harrisburg, Portsmouth, Mt. Joy & Lancaster RR (Pa IlR.)*f. . 722 Steam Railroads. Harrison Branch RR. (C., C., C. & St. L.) Hartford & Connecticut Western RR. (C. N. E.) Hart well Ry. (So. Ry.) 20 1, 1 Harvey Branch Ry. (Alb. So.) 83 Hawkinsville & Florida SouthernRy.f 16: Hawthorne, Nebagamon & Superior RR.t 4 Hayt 's Corners, Ovid & Willard RR. (L.V.) Hazelhurst & Southeastern Ry.f 4 Hearne & Brazos Valley RR.*t 56 Hecla& Torch Lake RR..f 45 Henderson & Overton RR. (I. & G.N.) 4 Henderson Bridge & RR. (L. & N.)*t 30 Hereford Ry. (Me. Cent.)*f 2 Hetch-Hetchy & Yosemite Valleys Ry. of Cal 6 Hibernia Mine RR. (C.RR.of N.J.)*t- 15 Hickory Valley RR 162 Hidalgo & Northeastern RR 16 High Point, Randleman, Asheboro & Southern RR (So. Ry.) 25 Hillsboro' & Northeastern Ry 162: Hocking Vy. Ry. (The) (Afop)*t-.382, 1 Hodgenville & Elizabethtown Ry. (111. C.) 3 Hoffman & Troy RR 16! Rollins, Helflin & Sylacauga RR 16: Holly River & Addison Ry.f 2 Holston Valley Ry 16: Holyoke & Westfield RR. (N. H. & N.)*t Home Avenue RR.(C., H. & D.)t • • • • Hoosac Tunnel & Wilmington RR.*t- Hopatcong RR. (D., L. & W.) Houston & Shrevep't Ry. (So. Pac.)t Houston & Texas Central RR. (So. Pac.)f Houston, Brazos & Northern Ry Houston, East & West Texas Ry. (So. Pac.)f 66 Hoyt & Woodin Mfg Co.'s RR 16: Hudson Highland Bridge & Ry.f 17 Hunter 's Run & Slate Belt RR.f 1 Huntington & Big Sandy RR. (Ohio R.)t Huntingdon & Broad Top Mountain RR. &CoalCo.*t... 1 (.61 , . VIs**' *.'!?• 8«»t€»«*nt» of Dividends Paid, 1896-1903. paxes 143O to 1445. inclusive; able of Annual .Meetings Transfer Agencies, etc.. pages 14BO-14NH. Inclusive.. GENERAL INDEX — STEAM RAILROADS. Steam Railroads. PAGE I Southern Ry. (N. & W.) 233 Iberia * Vermilion RR. (So. Pac.)t- • 663 Ioi> Little Rock & Fort Smith Ry. (St. L., I. M. &S.)t 520 Little Rock & Hot Springs Western RR. (Mo. P.) ! 522 Little Rock Junction Ry. (St. L., I. M. &S.)f 520 Little Schuylkill RR. (P. & R.)*f. ... 147 Live Oak & Gulf Ry 281 Livonia & Lake Conesus RR.*f 1635 Lockhart RR. (So. Ry.) 259 Lodi Branch RR. (N. Y., S. & W.). . . 106 Logansport & Toledo Ry . ( Pa. Co. ) t . 790 London & Port Stanley RR.(L. E. & D. R.) 428 Long Bell Ry. System 1635 Long Dock Company (Erie) 100 Long Island Extension RR. (L. I.). . . 735 Long Island RR. (Pa. RR.)*f 734 Long Island RR., North Shore Br. . . . 7:is Lotbiniere & Megantic Ry.t 845 Louisiana, Map of Bet. pp. 288 and 289 Louisiana — State, County and City Debts 1312 Louisiana — Street Railways in 9:W Louisiana & Arkansas Ry. ( A/"ap)f. . . 1512 Louisiana & Missouri River RR. (C. &A.)*f 330 Louisiana & Northwest. RR.f 320 Louisiana & Pike County RR.(Wab.) 437 Louisiana Ry. & Nav. Co 321 Louisiana Southern Ry.f 321 Louisiana Western RR. (So. Pac.)f. . 663 Louisville & Atlantic Ry.f 321 Louisville & Jeffersonville Bridge Co.. 1 1 (.)7 Louisville & Nash. RR. (3/ap)*f 297, 1575 Louisville & Nashville Terminal Co. (L. &N.)f 306 Louisville & Wadley RR.f 281 Louisville Bridge Co. (Pa. Co.)*f. ..... 787 • 1OT (•) S*«. alM>. Statement of Dividends Paid. 1896-1903. pages 143O to 1445. Inclusive; Table of Annual Meetings, Transfer Agencies, etc.. pages 146O-1486. Inclusive. GENERAL INDEX STEAM RAILROADS. Steam Railroads. PAGE Louis., Henderson & St.Louis Ry.t308,1548 Louisville, New Albany & Corydon RR.t 453 Lowell & Andover RR. (B. & M.)*t - • 14 Loyalsock RR. (L. V.) 687 Lykens Valley RR. & Coal. (No. Cen.)*f 743 M McCloud River RR.*f 672 McKean & Buffalo RR.(W.N.Y.&P.). 727 McKeesport Connecting RR. (U. S. Steel) 1256 McKeesport Term. RR. (U.S. Steel). . 1256 Macon & Birmingham Ry.f 281 Macon, Dublin & Savannah RR.t 281 Macopin RR. (N. Y., S. & W.) 106 Madison, Illinois & St. Louis Ry. (St. L..M. B.T.)t 566 Mahoning Coal RR. (L. S. & M. S.)*t- 415 Mahoning State Line RR. (P.& L.E.). 129 Mahoning Valley RR. (B. R. & P.)*t- 74 Mahopac Falls RR. (N. Y. & P.)t 122 Maine, Map of Bet: intro. and p. 1 Maine— State, County andCity Debts, 1312 Maine — Street Railways in 940 Maine Central RR.*t 19, 1548 Mammoth Cave RR 321 Mauahawkin & Long Beach Tr. Co. f . 182 Manchester & Keene RR. (Bost. & L.) 11 Manchester & Lawrence RR. (B. & M.)*t 14 Manchester & Oneida Ry.f 621 Manistee & Grand Rapids RR.t 453 Manistee & Luther RR.t 454 Manistee & Northeastern RR.t 454 Manistique, Marquette & Northern RR 454 Manistique Ry.*f 454 Manitoba & Northwestern Ry. (Can. Pac.) 812 Manitoba S. W. Colonization Ry. (Can. Pac.) 812 Manitou & Pike's Peak Ry. t 562 Mann's Creek RR 1637 Mansfield Ry. & Transportation Co.*f 321 Manufacturers' Ry 1637 Marginal RR. (Pa. Co.) 770 Mari-'opa & Phoenix & Salt River Valley RR.f 672, 1576 Steam Railroads. PAGE Marietta, Columbus & Cleveland RR. 455 Marine Ry.f. 182 Marinette,Tomahawk &Western Ry.f 455 Marion & Rye Valley Ry 282 Marquette & Southeastern Ry 455 Marshall, Timpson & Sabine Pass Ry. (T.,S. V. &N.)f 570 Maryland, Map of. . . .Bet. pp. 128 and 129 Maryland — State, County and City Debts 1314 Maryland — Street Railways in 945 Maryland & Pennsylvania RR.f 182 Mason & Oceana RR 455 Mason City & Fort Dodge RR. (C. Gt. W.)t 577 Masontown & New Salem RR. (U. S. Steel) 1256 Massachusetts, Map of. . Bet. pp. 32 and 33 Massachusetts — State, City and County Debts 1316 Massachusetts — Street Railways in. . 947 Massawippi Valley Ry. (Bost. & L.)*f 1 1 Massena Terminal RR.t 183 Massillon & Cleveland RR. (P., F. W. &C.)*f 763 Mattoon Ry 1638 Matehuala RR 876 Mauch Chunk, Summit Hill & Switch- back RR. (C. RR. of N. J.).... 154 Maysville & Big Sandy RR. (C. & O.). 224 Mead Run RR. (Mt. J., K. & R.) 185 Meadville, Conneaut Lake & Lines- ville RR. (B. & L. E.). . 1253 Medix Run RR.t 183 Mercer Valley RR 183 Mesabe Southern Ry 621 Metropolitan Southern RR. (B. & O.) 61 Mexican Cent, Ry. Co. (Ltd.) (Map)} 857 Mexican Great Eastern Ry 1576 Mexican International RR.t 872 Mexican Mineral Ry 1548 Mexican National Construction Co. . . 1638 Mexican Northern Ry.*t. • • 864 Mexican Ry. Co. (Ltd.)*t 864 Mexican Southern Ry. (Ltd.) t 866 Mexico, Railroads in 854 Michigan, Map of Bet. pp. 440 and 441 Michigan — State, County and City Debts 1341 Michigan— Street Railways in 970 Michigan Air Line RR. (M. C.)t 419 Michigan Air Line Ry. (Gr. Tr.)t. ... 833 ,l.NKi;.\I. IMiKX STKAM RAILROADS. Mraiu Knilrouil* i- AGE Mirhigan Cent. RR. (N. Y. C.)*t • • • • 415 Michigan Midland & Canada RR. (Can. S.)t 420 Michoacan & Pacific Ry. (Ltd.) (X. RR. of Mex.) 872 Middleburg & Schoharie RR.*f 183 Middlesex Ry. (L. V. RR. of N. J.).. . 688 Middlesex Valley RR. (L. V. Ry.).. . . 688 Mi'ldletown & Crawford RR. (Erie)*t 101 Middletown & Hummelstown RR.(P. &R.)f 155 Middletown, Meridcn & Waterbury RR. (N. Y., X. H. & H.)f 29 Middletown, Unionville & Water Gap RR. (X. Y., S. & W.)t 107 Midland Ry. (Ltd.) 845 Midville.Swainsboro & Red Bluff RR. 1639 Milford & Woonsocket RR. (N. E.) *f 30 Milford, Franklin & Providence RR. (N. E.)* 30 Milford, Matamoras f Annual NMMMgft, Transfer Agencies, etc.. pages 148O-1486. Inclusive. DO SPENCER TRASK & Co. BANKERS William and Pine Streets, New York, Transact a general banking business; act as Fiscal Agents for corporations, and negotiate security issues of railroads and other companies. Execute commission orders and deal in INVESTMENT SECURITIES. Members New York Stock Exchange. Branch Office: 67 State St., Albany. 58 UKNKKAL INDKX STKAM KAILKOADS. steam Railroad*. PAGE Pacific- Lumber Co 's RR 674 Paducah & Memphis Div. L & V UK \ i A Bt. L.) 313 Pajaro Valley Consolidated RR.t. . 675 Panama RR.*t 877 Paragould ' t 283 Pennsylvania, Map of. Bet. pp. 96 and. 97 Pennsylvania— Statc,County and City Debts 1402 Pennsylvania— Street Railways in. . . 1069 Pennsylvania «t New York Canal .") i Pensacola & Perdido RR t 1556 People 's Ry., Pottsvillc, Pa.*t Pcoria & Bureau Valley RR. (C., R. I. &P.)*f Peoria & Eastern Ry. (C., C., C. & St. L.)t 406, 1556 Peoria & Pekin Terminal Ry 457 Peoria & Pekin Union Ry.*t ' ~>~ Peoria & Springfield Ry 457 Peoria, Decatur & Mattoon RR. (111. C.) 399 Pere Marquette RR.*t 423, 1556 Perkiomen RR. (P. & R.)f 156 Perris & Lake view Ry.(A.,T. & S.F.)t 470 Perry County RR. t 189 Perth Amboy & Raritan Ry. (L. V. of N. J.) 688 Perth Amboy & Woodbridge RR. (Pa. RR.)*t 729 Peru & Detroit Ry. (Wabash) 437 Peterborough & Hillsborough RR. (N. RR.)t 15 Peterborough RR. (B. & L.)*t 1 1 Philadelphia & Baltimore Central RR. (P. W. &B.)t 717 Phila.&Beach Haven RR.(Pa.RR.)t 722 Philadelphia & Brigantine RR.t 189 Philadelphia & Chester Valley RR. (P. &R.)t 156 Phila. & Delaware Co. RR. (P. W. & B.)f -'...- 748 Phila. & Erie RR. (Pa. RR.)*t 722 Phila. & Frankford RR. (P. & R.)t-. . 157 Phila.&Long Branch RR. (Pa.RR.)t 723 Philadelphia & Reading Coal & Iron Co. (Reading Co.)t 141 Philadelphia & Reading Ry . t 142 Philadelphia&Reading Terminal RR. (P. &R.)t 148 Philadelphia & Trenton RR. (Pa. RR.)* 724 Philadelphia Belt Line RR.t.. 189 n labi« , Pald« »896-19O3. pages 1430 to 1445, Inclusive; er Agencies, etc.. pages 146O-14SB, Inclusive. 59 CO z p DO O 11 15 W o o CO o m z H 0) > H O 3D Z m V) m CO m CO 5 "H ^^n E O 73 m o m oo m m 3D 00 m X o O c 30 a Z li ^ O s m O z > m 5 CORNE BRO (0 H m m (P O o c O O REDMOND, KERR& CO. BANKERS HIGH-GRADE INVESTMENT SECURITIES (Lists will be sent on application) TRANSACT A GENERAL FOREIGN AND DOMESTIC BANKING BUSINESS Allow interest on deposits subject to draft. Act as Fiscal Agents, negotiate loans and issue mortgage bonds of railroads, street railways, gas companies, etc. Buy and sell securities on commission. Members New York Stock Exchange. ISSUE TRAVELER'S LETTERS OF CREDIT Available the world over NEW YOR.K 41 Wall Street PHILADELPHIA CHICAGO 50? Chestnut Street 232 La Salle Street GENERAL INDEX STREET RAILWAYS. 61 Steam Railroads. PAGE Philadelphia, Balto. & Washington RR. (P., W. & B.)* 745 Philadelphia, Germantown & Norris- town RR. (P. & R.)*t 148 Philadelphia, Harrisburg & Pitts- burgh RR. (P. & R.)*t 149 Philadelphia, Newtown & New York RR. (P. &R.)t 157 Philadelphia, Wilmington & Balti- more RR. (Pa. RR.) 744 Phillips & Rangeley RR. f ." 44 Philipsburg Ry. & Quarry Co.f 847 Pickens & Addison RR 1656 Pickens & Hackers' Valley RR 1656 Pickens RR.f 283 Pickering Valley RR. (P. & R.)t 149 Piedmont & Cumberland Ry. (W. Va.,C. &P.)*t 167 Pine Bluff & Western Ry. f 564 Pine Bluff Arkansas River Ry. (St. L. S. W.)f 553 Pine Creek Ry. (X. Y. C. & H. R.)*t. 122 Piqua & Troy Branch RR. (C., H. & D.)f , 373 Pittsburgh, Allegheny & McKees Rocks RR 190, 1556 Pittsburgh & Castle Shannon RR.f. . 190 Pittsburgh & Connellsville RR. (B. &O.) 61 Pittsburgh & Eastern RR. (N. Y. C. &H. R.)t 125 Pittsburgh & Lake Erie RR. (N. Y. C. &H. R.)*f 127, Pittsburgh & Moon Run RR.f Pittsburgh & Northern RR. (B.& O.) Pittsburgh & Ohio Valley Ry. (U. S. Steel) 1257 Pittsburgh & West. Ry. (B. & O.)f. 65 Pittsburgh, Bessemer & Lake Erie RR. (U.S. Steel)* 1253 Pittsburgh, Carnegie & Western RR. 1579 Pittsburgh, Chartiers & Youghiogh- cny Hy. (Pa. Co.)*f 791 Pittsburgh, Cincinnati, Chicago & St. Louis Ry. (Pa. Co.)*t 772 Pittsburgh, Cleveland & Toledo RR. (B . &0.)f 66 Pittsburgh. I-',,, i Wayne & Chicago Hy. (Pa. Co.)*f 762 Pittsburgh, Johnstown, Ebensburg & Eastern RR 190, 1556 Pittsburgh Junction RR. (B. & O.)f.. 65 Steam Railroads. PAQB Pittsburgh, Lisbon & Western RR . . 1556 Pitts., Lisbon&W.RR.(P.L.&W.) Ry. 1556 Pittsburgh, McKeesport & Youghi- oghenyRR. (P. &L. E.)*f 129 Pittsburgh, Ohio Valley & Cincinnati RR. (Pa. Co.)f 770 Pittsburgh, Painesville & Fairport RR. (B. &O.)f 66 Pitts., Shawmut & North. RR.f 134 Pittsburgh Terminal RR. & Coal Co. . 1557 Pittsburgh, Toledo & Western RR. . . 1557 Pittsburgh,Virginia & Charleston Ry. (Pa. RR.)*f 724 Pittsburgh, Westmoreland&Somerset RR 1656 Pittsburgh, Wheeling & Kentucky RR. (P., C. C. & St. L.)*f 778 Pittsburgh, Youngstown & Ashtabula RR. (Pa. Co.)*t 768 Pittsfield & North Adams RR. (B. &A.)*f.. -. 121 Pittsford & Rutland RR.(Clar.& P.)t 41 Pittstown Branch Ry. (L. V. of N. J.) 688 Plattsburgh & Dannemora RR. (Chat. RR.) 172 Plymouth & Middleborough RR. (O. C.)f 33 Plymouth RR. (P., G. & N.)t 149 Pocahontas Coal Co. (N. & W.) 238 Pocahontas Coal & Coke Co. (N.&W.) 237 Pochuck RR. (L. & N. E.) 181 Point Pleasant, Buckhannon & Ty- garts Valley RR. (B. & O.) 61 Pomeroy & Newark RR. (Pa. RR.)f . 724 Pontiac & Renfrew Ry 848 Pontiac, Oxford & Northern RR.*f . . 458 Pontiac Pacific Junction Ry.f 848 Port Angeles Pacific RR 675 Port Arthur, Du'uth & Western RR.f 1557 Porter's Creek & Gauley RR 1656 Port Huron Southern RR 458 Port Inglis Terminal RR 1557 Port Jervis, Monticello & Summit- ville RR. (N. Y., Ont, & W.)t 133 Portland&Ogdensburg Ry. (Me.C.)*f 23 Portland & Rumford Falls Ry.*t . -34, 1557 Portland & Southeastern RR 1657 Portland, Vancouver & Yakima RR.. 1657 Port Reading RR. (P. & R.)t 158 Portsmouth & Tygart Vy. RR.f 322 Port Townsend Southern RR. (No. P.)t 606 J. P. MORGAN & CO., DOMESTIC AND FOREIGN BANKERS, Cor. of Wall and Broad Streets, NEW YORK, ; DREXEL & CO., MORGAN, HARJES & CO., PHILADELPHIA. PARIS. AGENTS AND ATTORNEYS OF Messrs. J. S. MORGAN & CO., London. DRAW EXCHANGE AT CUSTOMARY USANCES. ISSUE COMMERCIAL AND TRAVELERS' CREDITS. GENERAL INDEX — STEAM RAILROADS. 63 Steam Railroads. PAGE Potomac, Fred'k'g & Piedmont Rll.f 283 Poto.ua,- RR.(R., F. &P.)t 240 Potomac Valley RR. (W. Md.)t • • • • 163 Poughkccpsie A Eastern Ry.f 190 Present! & Eastern RR. (S.F.,P.&P.)t 471 Prcscott \- Northwestern RR.f 1558 Prince Edward Island RR. (Can. Qov. Kys.) 842 Providences-Springfield RR.(N.E.)*t 31 Providence A: Worcester RR. (N. Y., N. H. & H.)*f 33 Providence, Warren & Bristol RR. (().('. )*t 33 Providence, Webster & Springfield RR. (B. &A.)f 121 Quakertown & Eastern RR.| 191 Qu'Appelle, Long Lake & Saskatch- ewan RR. & S. B. Co. (Can. Pac.)t. 816 Quebec & Lake St. John Ry.f 848 Quebec Bridge Co. (Limited) 1220 Quebec Central Ry.*t '• 848 Quebec Ry., Light & Power Co.f 849 Quebec Southern Ry 849 Queen Anne's RR 191 Quincy, Carrollton & St. Louis Ry.. . . 1558 Quincy, Omaha & Kansas CityRR. 564,1558 Quincy Railroad Bridge 1220 R Radford Southern RR. (N. & W.)t. . - 234 Railway Transfer Co. of Minneapolis! 623 Ralegh & Cape Fear Ry.t 283 Raleigh & Western Ry 1658 Randsburg RR 675, 1558 Rapid Transit Ferry Co. (S. I. R. T. Ry.) 68 Raquette I.akeRy.f 126 Raritaii River RR.*t 191 Ravenswood, Spencer & Glenville Ry. (B. &0.) . 66 Reading & Columbia RR. (P. &R.)t. 158 Reading Company* 135 Reading Belt Ry. (P. & R.) 143 H.-ading Iron Co. (P. & R.) 150 Reading, Marietta & Hanover RR. (R.&C.).. 158 Steam Railroads. PAGE Red Lake Transportation Co.'s RR.. . 624 Red Mountain Ry. (Gr. No.)f 589 Red River,Texas & Southern Ry. (St. L. &S. F.) 532 Red River Valley RR 1558 Red Springs & Bowmore RR 1658 Register & Glenville RR 1658 Reid Newfoundland Co 1658 Rensselaer & Saratoga RR. (D. & H. Co.)*f 81 Restigouche & Western Ry .850 Reynoldsville & Falls Creek RR.*f.. . 191 Rhode Island, Map of .Bet. pp. 32 and 33 Rhode Island— State and City Debts. 1410 Rhode Island — Street Railways in. . . 1109 Rhode Island & Massachusetts RR. (in Mass.) (N. E.)*f 31 Rhode Island & Massachusetts RR. (inll. I.)(N. E.)*t 31 Rich. & Mecklenburg RR. (So. Ry.)t- 259 Richmond Belt Ry 1558 Richmond, Fredericksburg & Poto- mac RR. (R.-W. Co.)*t 238 Richmond, Fred. & Pot., and Rich. & Petersb. Con. RR. (R., F. & P.)*f 240 Richmond- Washington Co 238, 1558 Ridgway&Clearfield RR.(Pa.RR.)*f 724 Rio Grande & Eagle Pass Ry.f 564 Rio Grande & El Paso RR. (Atch.). . . 461 Rio Grande & Pagosa Springs RR.f. . 565 Rio Grande & Santa Fe Ry. (D. & R. G.) 481 Rio Grande Gunnison Ry. (D. & R. G.)* 481 Rio Grande Junction Ry.*t 565 Rio Grande RR. (D. & R. G.) 481 Rio Grande RR.*f 565 Rio Grande Sangre De Cristo RR. (D. &R. G.) 482 Rio Grande, Sierra Madre & Pacific RR 876 RioGrandeSouth. RR. ( D. &R. G. ) |483, 1 559 Rio GrandeWestern Ry.(D.&R.G.)*f 482 Ripley & Mill Creek Vy. RR.(B. & O.)t 66 River Front RR. (Pa. RR.)*t 720 Riverside & Harlem (111. C.) 393 Roanoke & Tar River RR. (S. A. L.). 245 Roaring Creek & Belington RR 1659 Roaring Creek & Charleston RR 1659 Rochester & Genesee Valley RR. (Erie)*t 102 «;I:\I:U.M. I.M.KX — STKAM HAILKUAI.S. Steam Railroad*. PAGE Rochester, Beaver Fulls A: \\«>t<-ni Ry. (I1:. Oo.)1 771 l;..rh. •>(,•!-, Hiirnrlls\illr A l.arka- uaiin:i liR. (P,S. & X.) 135 Rochester. Nru York & Pennsylvania UK (\V X. V. & P.) 728 RoohfstiT Southern HR. (L. V. Ry.). 688 Rockaway Valley Ry.t 192 Rorkbridge, Alum & (Joshen HR 284 RockdaU-RR 1659 Rock Island & Mercer County RR. (R. I. &P.) 1527 Rock Island & Peoria Ry. (C.,R. I. & P.)*t 1527 Rock Island Company (The) 1514 Rock Port, Langdon & Northern Ry.f 565 Rockville RR. (N. E.)* 31 Rockwood & Tennessee River Ry. . . . 1659 Rocky Hill RR. & Transportation Co. (Pa. RR.)*f 724 Rogue River Valley Ry.t 675, 1559 Rolling Mill RR. (Pa. Co.)f 771 Rome & Clinton RR. (N. Y., O. & W.)*t 133 Rome.Watertown & Ogdensburg RR. (N. Y. C. &H. R.)*f 122 Roseland Ry. (N. Y. & G. L.) 101 Roswell RR. (So. Ry.)f 260 Ruddock, Bonnet Carre & Northern RR 1659 Rumford Falls & Rangeley Lakes RR. (P. & R. F.)*f 35 Rupert & Bloomsburg RR.(P. &R.)t- 158 Rural Valley RR 1659 Rutland & Whitehall RR. (D. & H. Co.)*f 81 Rutland & Noyan Ry. (Rutland)f. . . 38 Rutland RR.*t 36 Rutland Transit Co. ( Rutland) f. . 38 S Saginaw & Ouachita River RR 1659 >t Augustine & South Beach Ry.t. . . 1559 >t Clair, Madison />. 224 and 225 South Carolina State, County and City Debts 1412 South Carolina — Street Railways in. . 1111 South Carolina Pacific Ry. (A C. L.) . 207 South Ch.-st«-rRR. (P., W. &B.)f. •• 748 South Chicago & Southern RR. (Pa. Co.)*t 771 South Dakota, Mapof..ffe*. pp. 584 and 585 South Dakota — State, County and City Debts 1413 South Dakota— Street Railways in. . . 1112 South Easton & Phillipsburg RR. (L. & H. R.)f 110 South Fork RR. (Pa. RR.)t 720 Sout h Georgia & West Coast Ry 284 South Haven & Eastern RR. (P. M.)t 428 South Manchester RR.f 45 South Pacific Coast Ry. (So. Pac.)f. . 657 South Shore RR.f 194 Southern California Ry.(A.T. & S.F.) 468 Southern Indiana Ry. (The) (Map)f. 428 Southern Pacific Co. (Map) f 629 Southern Pacific RR.f 654 Southern Pennsylvania Ry. & Mining Co. (Cumb. Vy.) f 734 Southern Ry. (.V/«p)*f 246, 1562 Southern Ry., Carolina Div.f 259 Southern Ry. in 111 258 Southern Ry. in Ind 258 Southern Ry. in Ky 258 Southern Ry. in Miss 258 Southwest Connecting Ry.(U.S.Steel) 1257 Southwestern RR. (C. of G.)*f ...... 215 Southwest Pennsylvania Ry. (Pa. RR.)*t 724 South West Virginia RR. (N. & W.). . 233 Spokane Falls & Northern Ry. (Gt. Nor.)f 589 Spuyten Duyvil *t 748 West Ontario Pacific Ry. (Ont. & Quo.) 813 West Range RR 1673 West Shore RR. (N. Y. C. & H. R.)f.. 124 W.-st Side Belt RR.f 197 West Stockbridge RR. (N. Y., N. H. &H.R.)*f 34 WestVirginia,Map of. .Bet. pp. 128 and 129 Steam Railroads. PAGE West Virginia — State, County and City Debts 1426 West Virginia — Street Railways in. . . 1 124 West Virginia & Pittsburg RR. (B. &0.)f 61 West Virginia & Southern RR.*f .... 287 West Virginia Cent. & Pittsburgh Ry.*t 163 West Virginia Northern RR.f 1673 W. Virginia, Pineville & Tenn. RR.|. 1673 W. Virginia Short Line RR. (B. & O.)t 61 Wharton Vy. Ry. (N.Y., Ont. & W.)f 133 Wheeling & Lake Erie RR.f 438, 1566 Wheeling, Pittsburgh & Baltimore RR. (B. &O.) 61 Wheeling Terminal Ry. (Pa. Co.) (The)f 788 Whippany River RR.f 197 White & Black River Vy. Ry. (C., O. & G.) 1531 White Castle & Lake Natchez Ry. . . . 1674 Whitefield & Jefferson RR. (Cone. &Mont.)t 13 White Pass & Yukon Ry 852 White River RR.f 46 Wichita Falls Ry. (M. K. & T.) 499 Wichita Valley Ry.f 571 Wiggins Ferry Co.*t 572 Wilkesbarre & Eastern RR. (N. Y., S. & W.)f 106 Wilkes-Barre & Harvey's Lake RR. (L. V.) 687 Wilkes-Barre & Scranton Ry. (C. of N. J.)*f 154 Williamsport & North Branch RR. f. . 197 William's Valley RR.f 198 Williamsville,Greenville & St.L.Ry.f. 572 Willmar & Sioux Falls Ry.(Gt.No.)*t 588 Wilmington & Nor. RR.(P.&R.)t 149, 1566 Wilmington Ry. Bridge (S. A. L.) 245 Wilton RR. (B. & L.)*t 1 1 Winchester & Potomac RR. (B.&O.)* 62 Winchester & Strasburg RR. (B. & O.)* 62 Wind Gap & Delaware RR. (C. of N. J.)t 154 Winfield RR 1674 Winifrede Coal Co. (W. RR.) 287 Winifrede RR.*t 287 Winona Bridge Ry.t 624 Winston & Bone Valley Ry. (A.C.L.). 207 70 CKNKKAL INDKX — Sli:.\M KA I I.U< >.\ I >S. NI,-.,,,, i:., iii. ..i.i- 1 arrnington m ' ^ .iNTvillr KK.t .......................... 40 \\i-.-oiisin. Map (.f . . .lid. /»/». 440 and 441 \\iM-on.-in State. County and City Dd.ts .......................... 1426 Wi-eonsiii Street Hallways in ...... 1125 Wi>eonsiii ,V; Michigan Ry.f ......... 459 Wi>eonsin Ci-ntral Ky.f ........ 440, 1567 Wisconsin, Michigan it Nortli«Tii Ry. (W. & M.) ...................... 459 Wisconsin, Minn. & Pacific UK. (C. <; \V.)*t ....................... \\ "isronsin Wc.sti-rn RH. (C., M. & St. P.)t ........................... Wood River Branch RR.f .......... Woodstock Ry.*f ................. 46 Woodward Iron Co.'s RR ........... 1675 Wn.msocket & Pascoag RR. (X. E.)t- 31 Worcester, Nashua & Rochester RR. (B.&M.)*t ..................... 15 Wrightsville & Tennille RR.| ........ 287 Wyoming, Map of ..... Bet. pp. 608 and 609 Wyoming— State Debt ............. 1429 Wyoming & Missouri River RR ...... 624 577 366 46 Strain Itailroads. Yadkiii RR. (So. Ry.) 260 Yaiikton \- Western RR ):.()> Ya/omV Mississippi Valley RR.f.314, I.r((i7 Yellow Kiver Rl{. (L. &N.) :iOv Vork, 136-138 Liberty Street Pittsburgh, Prick Building Boston, 144 Pearl Street St. Louis, 5 16 North 3d Street Chicago, Western Union Building Philadelphia, 21st and Callowhill Streets London, 23-25 Victoria Street, S. W. AGENTS: Henshaw, Buckley & Co., San Francisco and Seattle. THE SPRAGUE-6ENERAL ELECTRIC SYSTEM of MULTIPLE UNIT CONTROL for ELECTRIC TRAINS Challenges comparison with other systems on the following points : 1. The Sprague-General Electric System is neither in an experi- mental nor an untried stage, but is to-day in satisfactory operation on 1,162 cars running on twenty-three roads in the United States, Great Britain, France, Germany and Italy. 2. Contracts for additional Sprague-General Electric Control equipments are now being filled which will bring up the total num- ber of cars to 2,243 and the number of roads to forty. A list of these roads will be sent on application. 3. The Sprague-General Electric System of Control is entirely independent of the brake system, so that should the air brakes fail, the train could still be started, stopped or reversed by the motor- man. 4. The Control apparatus of the Sprague-General Electric System, is operated direct by line current without the intervention of storage batteries working a more or less complicated system of electro-pneu- matic valves. As long as there is power to move the train, the same power will operate the Sprague-General Electric System of Control. 5. The Sprague-General Electric System of Train Control is the fruit of eleven years of unrivalled experience in the manufacture of controllers for over 50,000 cars operating on over 25,000 miles of road in all parts of the world. % THE GENERAL ELECTRIC COMPANY Manufacturer of Curtis Turbine Principal Office, SCHENECTADY, N. Y. NEW YORK OFFICE, 44 Broad Street GREAT BRITAIN AND IRELAND, The British Thomson-Houston Co., Ltd., of Rugby and 83 Cannon Street, London, E. C. GENERAL INDEX STREET RAILWAYS. 71 GENERAL INDEX, Continued. — PART 2: DEPARTMENT OF CITY AND SUBURBAN RAILWAY AND TRACTION COMPANIES. Street Railways. PAGE A Adirondack Lakes Traction Co 1002 Adrian Street Ry 970 Alabama City,Gadsden&AttallaRR.| 881 Alabama, Street Railways in 881 Albany & Hudson RR.f 1002 Albany Street Ry 1068 Albion Electric Ry.f 1003 Algiers, Gouldsboro & Gretna Ry. . . . 939 AlleghenyTraction Co. (Consol.Trac.) 1091 Allentown & Reading Traction Co. . . 1069 Allentown & Slatington Street Ry. (L. Vy. Tr.)*f 1078 Alton & East Alton Ry. & P. Co 911 Alton Light & Traction Co 1581 Alton Ry., Gas & Electric Co.f 910 Altoona & LoganValley Electric Ry.f 1070 Amelia Beach Co 906 American Rys. Co. (The). .^ . 1149 Amesbury & Hampton Street Ry. (E. H. & A.) 989 Amherst & Sunderland Street Ry.f- •• 947 Anacostia & Potomac River RR. (Wash. Ry. & Elec.) 905 Anniston Electric & Gas Co.f 881 Anoka Street Ry 978 Arizona, Street Railways in 883 Arkansas, Street Railways in 883 Arlington Heights Motor Ry. (W. W. P. Co.) 1123 Asbury Park & Sea Girt RR. (A. C. ,Elec.)f 992 Asheville & Craggy Mountain Ry .... 1051 Asheville Electric Co.f 1051 Ashland & Centralia Electric Ry 1070 Ashland Light, Power & Street Ry. . . 1125 Ashland, Locust Dale & Centralia Electric Ry. (Schuylkill Trac.). . . . Ashtabula Rapid Transit Co.f Astoria Electric Co Atchison Ry., Light & Power Co.f. . . Athens Electric Ry.f Athol & Orange Street Ry.*t Atlantic City & Suburban Trac. Co.-f-. Street Railways. PAGE Atlantic City Electric Ry 991 Atlantic Coast Electric RR.f 991 Atlantic Shore Line Ry 940 Auburn & Syracuse RR 1003 Augusta-Aiken Ry. & Elec. Co 907 Augusta, Winthrop & Gardiner Ry . . 940 Aurora, Elgin & Chicago Ry.*t 911 Austin Electric Ry 1114 Babylon RR.f Bakersfield & Kern Electric Ry.f Ballston Terminal RR.f '. . . 1003, Baltimore & Washington Transit Co. Balto., Sparrows' Point & Chesapeake Ry. (U. Rys. & Elec. Co. of Bait.). . Bangor & East Bangor Street Ry .... Bangor, Hampden & Winterport Ry. (P. Wks. Co.)f Bangor, Orono & Old Town Ry. (P. Wks. Co.)f Bangor Street Ry. (P. Wks. Co.)t Barre & Montpelier Traction & Power Co.f Baton Rouge Electric & Gas Co Bay Cities Consolidated Ry.f Bay Shore Terminal Co Beaver Valley Traction Co. (The)f. . . Bellows Falls & Saxton's River Elec- tric RR Belton & Temple Elec. Ry Bennington & Hoosick Valley Ry.f- • Benton & Fairfield Ry.f Benton Harbor & St. Joseph Electric Ry. & Light Co Benton Power & Traction Co Bergen Turnpike Co. (J. C., H. & P.) Berkshire Street Ry.f Berlin & Waterloo Street Ry.f Berlin Street Ry.t Bethlehem & Nazareth Passenger Ry. (L. Vy. Tr.) 1003 884 1581 902 947 1070 943 943 943 1117 939 970 1118 1070 1117 1114 1004 940 970 978 999 948 1128 988 1078 ^~ (•) See, also, Statement of Dividends Paid, 1893-1903, pages 1446 to 1453, inclusive, and (t) Table of Annual Meetings, Transfer Agencies, etc., pages 1487-1499, inclusive. I.I:M:I:.M. INDEX — STREET RAILWAYS. Street Railway*. PAGE Biddeford & Saco RR 941 Binghamton Ry.*f 1004, 1581 Birmingham, Knoxville & Allentown Tr. (P. & B. Tr.) 1095 Birmingham Ry., Light & Power Co.*t 881 Black River Traction Co.f 1005 Bleecker St. & Fulton Ferry RR. (Met. St.)*t 1030 Bloomficld Street Ry.(Cons. Tr. Co.) 1093 Bloomington & Normal Ry. Elec. and Heating Co.f 911 Blue Hill Street Ry. (The)t 948 Bluff City RR 980 Boise Rapid Transit Co.f 910 Boone Electric Co 931 Boston & Chelsea RR. (B. & N.) *t . . 952 Boston & Northern Street Ry.*f 950 Boston & Revere Electric Street Ry. (B. &N.)*f 952 Boston & Worcester St. Ry . . 952 Boston Elevated Ry.*t 948 Boulder Elec. Light & Power Co 892 Bowling Green Ry 936 Bozeman Street Ry 986 Bradford Elec. Street Ry 1071 Branford Electric Ry. (F., H. & W.) . 896 Branford Lighting & Water Co 1582 Brantford Street Ry 1129 Brattleboro Street RR.f 1117 Brentwood, Clayton & St. Louis RR. (St. L. &Sub.) 983 Bridgeton & Millville Traction Co.t . . 992 Bridgeton Rapid Transit Co. (B. & M. Tr.)t 992 Brigantine Transportation Co.t 993 Brightwood Ry. (W. Ry. & El.)t 905 Bristol & Plainville Tramway Co.*f . 894 Bristol Belt Line Ry 1112 Bristol County Street Ry.f 952 British Columbia Electric Ry 1129 Broad Ripple Traction Co. (Ind. St.) 928 Broadway & Seventh Ave. RR. (Met. St.)*f 1030 Brockton & Plymouth Street Ry.f. . . 953 Brooklyn City & Newtown RR. (C. I. &B.)t 1014 Brooklyn City RR. (B. R. T.)*f 1009 Brooklyn Heights RR. (B. R. T.)f . . . 1008 Brooklyn, Queens County & Suburban RR. (B. R.T.)f 1011 Brooklyn Rapid Transit Co. f ... 1005, 1582 Street Railways. Brooklyn Union Elevated RR. (B. R. T.)*t Brownstown & Ewing Street Ry Brownsville & Gulf Ry.f Brownsville Avenue Street Ry. (P. & B. Trac.) Buffalo & Depew Ry.f Buffalo & Williamsville Electric Ry.f Buffalo, Dunkirk & Western RR.1012, Buffalo, Gardenville & Ebenezer Ry.t Buffalo; Hamburg & Aurora Ry Burlington & Hinesburgh RR.f Burlington County Trac. Co.t Burlington Ry. & Light Co.t Burlington Traction Co.*f Butler Passenger Ry Butte Electric Ry Cairo Electric Ry Calais Street Ry.f California Pacific Ry. (Los Ang. Tr.) . California Street Cable RR.*f California, Street Railways in -. Calumet Electric Street Ry. (The)f . . Camden & Suburban Ry.f Camden & Trenton Ry.f -A Camden, Gloucester & Woodbury Ry. (So. J.,G. E. &Tr.)f Camden Horse RR. (C. & Sub.)*f. . . . Camden Interstate Ry.f Canada, Street Railways in Canton-Akron Ry. (The) Cape Girardeau & Jackson RR Cape May,Del.Bay & Sewell's Pt.RR. Capital Traction Co.*f Carbondale Ry. (Scranton Ry.) Carlisle & Mt. Holly Ry.f 1071, Carrollton Water, Light & Power Co.. Catharine & Bainbridge Street Ry. of the City of Phila. (Phila. R. T.)*f. . Catskill Electric Ry.f 1012 Cayuga Lake Electric Ry. (Ith. St.). . 1023 Cedar Rapids & Iowa City Ry. & Lt. Co 1582 Cedar Rapids & Marion City Ry.*f-. . Centennial Passenger Ry. (Phila. R. T.) Central Crosstown RR. (Met. St.)*t . Centralia & Central City Street Ry.f. GENERAL INDEX STREET RAILWAYS. 73 Street Railways. PAGE Central Market Street Ry 1053 Central Park, North & East River RR. (Met. St.)*t 1031 Central Pennsylvania Trac. Co 1583 Central Ry., Peoria, 111 912 Central Street Ry 885 Central Traction Co. (Pitts. Rys.)*f. . 1092 Charleston Consolidated Ry., Gas & Electric Co.f 1111 Charlotte Elec.Ry., Light & Pow.Co. f 1051 Charlottesville City & Suburban Ry. . 1119 Chattanooga & Lookout Mountain Ry 1112 Chattanooga Electric Ry 1112 Chelton Ave. Pass. Ry. (Phila. R. T.). 1087 Chesapeake Transit Co 1119 Chester & Delaware St. Ry. (C. Tr.). . 901 Chester & Deny RR. Ass'n 988, 1583 Chester & Media Electric Ry. (C. Tr. Co.) 901 Chester, Darby & Philadelphia Ry. (C. Tr.) 901 Chester Street Ry. (C. Tr.) 901 Chester Traction Co. (Wil. & C.)t 9CO Chicago & Desplaines Valley Electric Ry.f ; 912 Chicago & Harlem Ry. (Lake St. El.). 921 Chicago & Joliet Electric Ry. (The)t . 912 Chicago & Milwaukee Electric RR.f . 912 Chicago & South Shore Electric Ry. . . 926 Chicago City Ry. Co.*t 913' Chicago Consolidated Traction Co.. . . 913 Chicago Elec. Traction Co.f 914 Chicago General Ry.f. . . 915 Chicago, Harvard & Geneva Lake Ry. 1125 Chicago North Shore Street Ry. (C. Con.) 914 Chicago Passenger Ry. (C. Un. Tr.)*f 917 Chicago Union Traction Co.*f 915, 1583 Chicago West Div. Ry. (C. Un. Tr.). . 917 Chillicothe Elec. RR., Light & P. Co.. Chillicothe Street RR.f ( 'hi ppewa Valley Electric RR.f Chittendcn Development Co 1118 Christopher & Tenth Street RR.(Met. 8t.)*t 1036 Cine. & Hamilton Trac. Co. (C. Inter.) 1054 Cincinnati, Dayton & Toledo Trac. Co 1053, 1583 Cine., Georgetown & Portsmouth RR. 1054 Street Railways. PAGE Cincinnati, Hamilton & Dayton Trac. Co 1054 Cincinnati Interurban 1054 Cincinnati, Lawrenceburg & Aurora Electric Street RR 1054 Cincinnati, Newport & Covington Ry.*t 936 Cincinnati Street Ry. (Cine. Trac.)*f. 1055 Cincinnati Traction Co.*f 1054 Citizens' Clearfield & Cambria Street Ry. (Phila. R. T.) 1085 Citizens' East End St. Ry. (Ph. R. T.) 1085 Citizens' Elec. Co. (Eureka Springs, Ark.)f 883 Citizens' Electric Ry., Light & Power Co. (Mansfield, O.) 1055 Citizens' Electric Street Ry. (New- buryport, Mass.) 953 Citizens' Pass. Ry. (Harrisburg Trac.)f 1075 Citizens' Pass. Ry. (Phila. R. T.)*t- • 1085 Citizens' Pass. Ry. (Sch. Vy. Tr.)f. . . 1099 Citizens' Ry. (Waco, Tex.) 1114 Citizens' Ry. & Lt. Co. of Muscatine, la.f 932 Citizens' Ry., Light & Power Co. (Norf., Ports. & N. N.) 1120 Citizens' RR., Lt. & Pow. Co., Fish- kill 1013, Citizens' Traction Co., Oil City, Pa. . . Citizens' Traction Co., (Cons. Tr.)f.. . City&SuburbanRy.,Portland,Ore.*f. City & Suburban Ry. of Washington. City Electric Ry. (Det. United) 973 City Electric Ry. (Rome, Ga.) 908 City Island RR.f 1013 City Passenger Ry. of Altoona (A. & L. Vy.)f 1070 City Ry. (Dayton, O.)* 1055 City Street Car Co. (Staunton, Va.) . . 1119 Cleveland & Southwestern Trac. Co . . 1055 Cleveland City Ry. (Cleve. Elec.)*t - . 1056 Cleveland Electric Ry.*t 1056 Cleveland, Painesville & Eastern RR.f 1057 Clinton Street Ry 981 Coal Belt Electric Ry.f 918 Coal Castle Electric Ry. (Pottsv. U.)t 1097 Coalville Passenger Ry. (W.& W.Vy.) 1107 Collegeville Electric Ry. (Sch. V. Tr.) 1099 jar* (*) See, also. Statement of Dividends Paid, 1898-19O3, pages 1446 to 1453, Inclusive; (t) Table of Annual Meetings, Transfer Agencies, etc., pages 1487-1499, inclusive, OKNEKAL IMJKX STKEKT RAILWAYS. Railways. PAGE Colorado Springs & Cripple Creek Dis- trict Ry 892 Colorado Springs «t Intorurban Ry.f- 892 Colorado, Street llail\v:iys in 892 Columbia A: Montour Electric Ry. . . . 1072 Columbia Elec. St. Ry.,Lt. & Pow.Co. 1111 Columbus, Buckeye A. .\e\\ark Trac. Co * 1057 Columbus, Delaware & Marion Elec- tric RR.f 1057 Coluinhvis, Ci rove City «.t Southwestern Ry. (C.,L. &S.) 1058 Columbus, London & Springfield Ry.f 1057 Columbus RR. (Columbus, Ga.)t 908 Columbus Ry.(The) (Columbus,O.)*t 1058 Columbus Ry. & Light Co. (The) 1058 Commonwealth Avenue Street Ry.*t 953 Concord & Boston Street Ry. (Lex. &B.) 958 Concord,Maynard&Hudson Street Ry. 953 Concord Street Ry.f 989 ConestogaTrac.Co.(L.Co.Ry.&L.)f. 1077 Coney Island & Brooklyn RR.*f 1013 Coney Island & Gravesend Ry. (B. R. T.)f 1011 Connecticut Ry. & Lighting Co. t 894 Connecticut, Street Railways in 894 Conshohocken Ry. (Sch. Vy. Tr.)f. . . 1099 Consol. Ry. & Pow. Co. (Salt Lake City)f 1116 Consolidated Rys., Light & Power Co. ( Wilmington, N. C.)* 1051 Consol. Street Ry. (Strong City) 934 Consol. Trac. Co. of N. J. (Pub. Ser. Corp.)*t 999 Donsol. Trac. Co. (Pittsburgh Rys.)*.. 1091 Continental Pass. Ry. (P. R. T.)*f. . . 1088 Conway Electric Street Ry 954 Coplay, Egypt & Ironton St. Ry. (L. Vy. Tr.) 1078 Corning & Painted Post Street Ry.f. . 1014 Cornwall Electric Street Ry 1129 Corsicana Transit Co 1114 Cortland County Traction Co.f 1014 Cot t age City & Edgartown Trac. Co.f 954 Covington I:X — STREET RAILWAYS. Street Hallway*. PAGE Lancaster. Mechaniesburg «t New Holland Ry. (L C.. Ky. & L.)*t- • • 1077 Lancaster Traction Co.f 10G1 Lansingburgh & Cohoos RR. (U. Trac.)f 1049 Lansing City Electric Ry. (I)., V., A. A *J.)f. 974 Las Vegas & Hot Springs Klec. Ry., L. &P. Co.f 1002 Laredo Electric & Ry. Co 1115 I.al robe St reet Ry 1077 Lawrence & Methuen Street Ry 958 Lebanon Valley Street Ry 1077 Lehigh Avenue Ry. (Phila. Rap.Tr.)f 1086 Lehigh Tract ion Co. (Wilk. &H.)f... HOG Lehigh Valley Traction Co.*f 1077 Levis County Ry-t 1131 Lewisburg, Milton & Watsontown Pass. Ry.t 1079 Lewiston & Youngstown Frontier Ry. (The)f 1024 Lewiston, Brunswick & Bath St. Ry. . 941 Lewistown & Reedsville Elec. Ry.*f . 1080 Lexington & Boston Street Ry.*f. . • - 958 Lexington Ry 937 Liberty & Jeffersonville Elec. RR.f . . 1024 Light & Power Co. of Olympia. 1 122 Lima Electric Ry. & Light Co 1061 Lima-Honeoye Electric Light & RR. . 1025 Lincoln Street Car Co 921 Lincoln Traction Co,*f 987 Lin wood Street Ry.f 958 Little Rock Traction & Electric Co . . 884 Lock Haven Electric Ry. (Susq. Tr.) , 1102 Logansport Ry 929 London Street Ry.*t 1132 Long Island Boynton Bicycle RR. . . . 1025 Longview & Junction Street Ry 1115 Lookout Incline & Lula Lake Ry 1113 Lookout Point Incline Co 1113 Lorain Street Ry.f 1061 Los Angeles & Redondo Ry.f 885 Los Angeles- Pacific RR 886 Los Angeles Ry 885 Los Angeles Traction Co.f 886 Louisiana, Street Railways in 939 Louisville & Eastern RR 937 Louisville Ry.*t 937 Lowell & Boston Street Ry.f 958 Ludington A Northern RR 976 Lykens & Williams Valley Street Ry . 1080 Lynchburg Tract ion «t Light Co 1119 Street. Railways. PAGE M M.u on Ry. & Light Co.* 909 Madison Light & Ry.f 929 Madison Traction Co.*f 1 1 -i> Mahanoy City, Shenandoah, Girard- ville & Ashland St. Ry.(Schuyl.Tr.) 1 *f 1093 Suburban RR. (The)f 925 Suffield Street Ry 899 Sunbury & Northumberland Elec. Ry. 1102 Susquehanna Traction Co 1102 Syracuse & Suburban RR.f 1047 Syracuse, Lakeside & Baldwinsville Ry.f 1047 Syracuse Rapid Transit Ry.*t 1047 Tacoma Ry. & Power Co. f 1123 Tama & Toledo Elec. Ry. & Lt. Co.*f 934 Tamaqua & Lansford Street Ry.*t- . . 1103 Tamaqua & Pottsville Elec. RR. (P. U. Tr.)f 1097 Tampa Electric Co.*f 907 Tarentum Traction Pass. Ry . f 1103 Tarry town, White Plains & Mamaron- eck Ry. (Union Ry.)f 1035 Templeton Street Ry 966 Tennessee, Street Railways in 1112 Terre Haute Electric Co.f 930 Texarkana Light & Traction Co 884 Texas, Street Railways in 1114 Third Avenue RR. (Met. St.)*f 1032 Thirteenth & Fifteenth Sts. Pass. Ry. (Phila. Rap. Tran. )*t 1089 Thirty-fourth Street Crosstown Ry. (Met. St.)f 1037 Tiffin, Fostoria & Eastern Electric Ry 1065 Titusville Electric Traction Co 1 103 Toledo & Indiana Ry 1065 Toledo & Monroe Ry 1065 Toledo & Western Ry.f 1065 Street Railways. PAOF. Toledo, Bowling Green & Southern Trae. Co.*f 1065 Toledo, Fostoria & Findlay Ry 1066 Toledo Rys. & Light Co.f 106G Topeka Ry.f 935 Toronto & Mimico Ry. & Light Co. (T. Ry.) 1136 Toronto & Scarboro Electric Ry., Light & Power Co. (Toronto Ry.). . 1136 Toronto Ry.*f 1 135 Toronto Suburban Ry 1 136 Torrington & Winchester Street Ry . . 899 Town of Port Arthur El. Ry. & Lt.Co. 1 136 Trans-St. Mary's Traction Co 977 Trenton & New Brunswick RR.f 1001 Trenton Street Ry.f 1002 Tri-City Ry 934 Troy & Cohoes RR. (Unit. Trac.)*f . . 1049 Troy & Lansingburgh RR.(U.Trac.)f 1049 Troy & New England Ry-t 1048 Troy Hill Inclined Plane & Bridget- - H03 Tucson Street Ry 883 Tuscaloosa Belt Ry.| 883 Tuscarawas Traction Co 1066 Tustin St. Ry. (Pitts. Rys.) 1094 Twenty-eighth & Twenty-ninth Sts. Crosstown RR. (Met. St.)f 1037 Twenty-second St. & Allegheny Ave. Pass. Ry. (Phila. Rap. Tran.)*f. . .. 1089 Twenty-third Street Ry. (Met. St.)*t 1032 Twin City General Electric Co 978 Twin City Rapid Transit Co.*t 979 Tyrone Electric Ry.f 1103 Union Consol. Elev.Ry. (M.W.S.E1.) . 922 Union Electric Co., Dubuque, la. . . . 934 Union Elevated RR. (No'w'n Elev.). 923 Union Pass. Ry. (Phila. Rap.Tran.)*f 1089 Union RR. (R. I. Sec. Co.) 1110 Union Ry. of Chester, Pa. ( W. &C.Tr.). 901 Union Ry. Co. of New York (Third Ave.)t 1034 Union Street Ry. (New Bedford)*f. ' 966 Union Street Ry., Santa Rosa 890 Union Street Ry. & Transfer Co 935 Union Trac. Co. of Lnd.*t 930, 1588 Union Trac. Co. (Phila. Rap. Tran.)f. 1084 United Electric Co. (Dennison. O.). . . 1066 United Power Co . , . 1066 GENERAL INDEX STREET RAILWAYS. 85 Street Railways. PAGE United RRs. of San Fran.(U.Rys. In. Co.)*t 890 United Railways & Electric Co. of Baltimore*! 946 United Rys. Invest. Co. of San Fran- cisco.*f 890 United Rys. Co. of St. Louis (St. L. Trans.)*f 985 United Trac. Co. (Albany)*! • • • - 1048, 1588 United Trac. Co. of Pittsburgh (P. Rys.)*f 1093 United Traction Co. , Reading, Pa. f . . 1 103 Urbana & Champaign Ry., Gas & Elec. Co.f 926 Urbana, Bellefontaine & Northern Ry. (D.,S. &U.) 1060 Urbana, Mechanicsburg & Columbus Elec. Ry 1067 Utah, Street Railway sin 1116 Utica & Mohawk Valley Ry.f-. . . 1049, 1589 Uxbridge & Blackstone Street Ry 966 Valdosta Street Ry 910 Vallamont Traction Ry. 1105 Van Brunt St. & Erie Basin RR.*f . . . 1050 Vermont, Street Rail ways in 1117 Vicksburg Ry. & Light Co 981 Victory Park Ry 1067 Vincennes Citizens' Street Ry.f 931 Virginia Passenger & Power Co 1121 Virginia, Street Railways in 1118 W Wabash River Traction Co 931 Walnut St. Conn. Ry. (Phil. R. T.)*t- 1090 Waltham Street Ry 967 Warren, Brookfield & Spencer St. Ry. 967 Warren Street Ry 1105 Washington & Cannonsburg Ry.f- • • • 1105 Washington & Glen Echo RR 906 Washington & Rockville RR 906 Washington, Alexandria & Mt. Ver- non Ry 902 Washington, Arlington & Falls Church Ry.f 903 Street Railways. PAGE Washington, Bait. & Annapolis Elec. Ry 903,1589 Washington, Berwyn & Laurel Elec. RR. (W., B. &A. El.) 903 Washington Ry. & Electric Co.f 903 Washington, State of, Street Railways in 1122 Washington St. Ry 931 Washington Water Power Co. *t 1123 Washington, Woodside & Forest Glen Ry. & Power Co. (W. Ry. & El.) ... 905 Waterford &Cohoes RR.(Unit.Tr.)*f 1049 Waterloo & Cedar Falls Rap.Tran.Co. 934 Waterville&Fairfield Ry.&Light Co.f 945 Waupaca Electric Light & Ry.f 1128 Waverly, Sayre & Athens Trac. Co.f. 1105 Waxahachie Street Ry 1116 Webster & Dudley St. Ry. (W. & C. *E. Ry.) 968 Wellesley & Boston Street Ry . *f 967 Wellston & Jackson Belt Ry.f 1067 Westborough & Hopkinton St. Ry.f- 967 Westchester Elec. RR. (Union Ry.)f. 1035 West Chester St. Ry 1105 Westchester Traction Co.f 1050 West Chicago St. RR. Tunnel (C. U. T.) 918 West Chicago St. RR. (Chic.U.T.)*f. 917 West End & Long Branch Ry. (A. C. El.) 992 West End St. Ry. (Bost, Elev.)*f. ... 949 Western Ohio Ry. (The) 1067 Westhampton Park Ry 1122 West Jersey Trac. Co. (Cam. & Sub.) . 993 West Liberty St. Ry. (Pitts. Ry.s.) . . . 1095 West Phila. Pass. Ry. (Phila. R.T.)*f 1090 West Pittston & Wyoming St. Ry. (W. &W. Vy.) 1107 West Shore Ry. (F., H. & W.)*t 896 West Side RR. of Elmira (E. W. L. & RR.)t 1016 West Virginia, Street Railways in. ... 1 124 WestWaterSt.RR.(Elm.W.,L.&RR.) 1016 Whatcom County Ry. & Light Co. ... 1124 Wheeling & Elm Grove Ry . *f 1 1 24 Wheeling & Wellsburg Ry 1 125 Wheeling Traction Co.f H25 Wichita RR. & Light Co.f 935 Wilkesbarre & East Side RR 1 107 Wilkesbarre & Hazleton R 11. t 1 1 06 ^~ (*) See, also. Statement of Dividends Paid, 1896-1903, pages 1446 to 1453, Inclusive; and (T) Table of Annual Meetings, Transfer Agencies, etc., pages 1487-1499, Inclusive. <.I.M:KAI. INDEX— STREET •» I reel !• Vi, I Wilkesbarre & Hazleton Ry.f 1107 Wilkcsbarrc & Kingston Pass. Ry (\\.& \\.\y] 1107 WilkcslKim- & Suburban St. Ry. (W. ,v \V \ -y ) 1108 Wilkesbarre & West Side Ry.(W.&W Vy.) 1108 Wilkt-sbarre & Wyoming Vy. Trac. Co.f 1107 Wilkesbarre, Dallas & Harvey's Lake Ry ' 1108 Williamsport Pass. Ry.f 1108 Wilmington & Chester Traction Co. . . 900 Wilmington & New Castle Elec.Ry.*f 901 Wilmington City Ry 901 Winchester Ave. RR. (F., H. & W.)*. 896 Winnebago Traction Co.f 1128 Winnipeg Elec. St. Ry.* 1136 Winnisimmet RR. (Bost. & Nor.)*t . . .-952 Winona Ry. & Light Co 980 Wisconsin, Street Railways in 1 125 Wisconsin Trac., Light, Heat & Pow- er Co 1128 Wissahickon El. Pass. Ry. (Sch. Vy. Trac.) 1100 Woodstock, Thames Valley & Inger- soll Electric Ry-t 1136 Woonsocket Street Ry 1111 Worcester & Blackstone Vy. St. Ry . . 967 Worcester & Conn. Eastern Ry.f 967 Street Railways. PAGE Worcester & Holden St. Ry 968 \\orrester & Shrewsbury RR. (W. Cons. St.) 969 Worcester & Shrewsbury St. Ry. (\\ Cons. St.) 969 Worcester & Southbridge St. Ry. . 970, 1589 Worcester & Webster St. Ry. (W. & Ct. E.) 968 Worcester Consol. St. Ry. (Wor. Rys. &Inv.)f 969 Worcester Rys. & Investment Co. *f. . 968 \Vorcester, Rochdale & Charlton Depot St. Ry. (Wor. & S. St.) 970 Woronoco Street Ry 970 Yardley, Morrisville & Trenton St. Ry.. 1108 Yarmouth Street Ry. (Ltd.) 1137 Yonkers RR. (The) (Union Ry.)t- - . . 1036 York County Traction Co.f 1108 York St. Ry. (Yk. Co. Tr.)*f 1109 Youngstown-Sharon Ry.& Light Co.f 1067 Zanesville Ry . , Light & Power Co. f . . 1068 GENERAL INDEX — MISCELLANEOUS CORPORATIONS. S7 (IK\KI\AL 1XDKX, Continued. -^-PAWS 3: DEPARTMENT OF MISCELLANE- OUS CORPORATIONS. Miscellaneous Corporations. PAGE Alabama, New Orleans, Texas & Pa- cific June. Rail ways Co., The (Ltd.) f 288 Alaska Southern Wharf Co. (P.C.Co.) 1212 Allis-Chalmers Co 1263 Albemarlo & Chesapeake Canal Co.*f 1138 Amalgamated Copper Co. *f 1138 A merican Agricultural Chemical Co. *f 1 1 38 American Alkali Co 1139 American Beet Sugar Co. *f 1139 American Bicycle Co. f 1140 American Bridge Co. [U. S. Steel] (See advt., p. 17, back) 1250 American Car & Foundry Co. *f 1141 American Cotton Oil Co.*t 1142 American CycleMfg. Co. (Am.Bic.Co.) 1141 American District Telegraph Co.*t- • 1 143 American Grass Twine Co 1143 American Hide & Leather Co. f 1144 American Ice Co.* 1145 American Iron & Steel Mfg. Co. * f .... 1 145 American Light & Traction Co.*f .... 1145 American Linseed Co.*f 1146 AmericanLocomotiveCo.*t(»Seeadttf., p. U,back) 1147 American Malting Co. f 1148 American Pneumatic Serv. Co. *f. 1149, 1590 American Railways Co. (The)*f .1149, 1590 American Sheet Steel Co. [ U.S.Steel] . 1250 American Shipbuilding Co. *f 1150 American Smelt. & Refin. Co. *f 1151 American Snuff Co.*f 1151 American Spirits Mfg.Co. (Dist.Sec.)f H82 American Steel Foundries 1264 American Steel Hoop Co. [U.S.Steel]f 1249 American Steel & Wire Co. of N. J. [U. S. Steel]*f 1250 American Straw Board Co.*f 1152 American Sugar Refining Co.*f 1152 American Teleg. & Cable Co. (Wn. Un.)*f 1262 American Telep. & Teleg. Co.*f. 1152, 1590 American Thread Co. (The)*f 1155 American Tin Plate Co. [U. S. Steel] 1250 American Tobacco Co. (The) (Cons. T.)*f 1176 Miscellaneous Corporations. PAGE American Type Founders' Co.*f 1 155 American Woolen Co.*f 1 156 Anaconda Copper Mining Co 1 1 57 Butte, Anaconda & Pacific Ry. . . 1 1 58 Associated Merchants Co. (The) *f ... 1 1 58 Barney & Smith Car Co. (The)*f (See advt., p. 3, back) 1159 Bethlehem Steel Co. (U. S. Shipb.)f. . 1280 Boston Suburban Electric Cos 1265 Boston & Worcester Electric Cos 1266 Brooklyn Ferry Co. of New York. ... 1 159 Brooklyn Union Gas Co.*f 1160 Brunswick Dock & City Impt. Co.f . . 1160 Buffalo & Susquehanna Iron Co. (Afap)f 1160 Buffalo Gas Co .. . 1266 Calumet & Hecla Mining Co.*f Cambria Steel Co.*t Cambria Terminal RR Canton Co. *f... Carnegie Steel Co. [U. S. Steel] (See advt. . p. 1, front) Central & So. American Teleg. Co.*f. Central Car Trust Co. (The)f Central Coal & Coke Co.*f Central Railway & Bridge Co Chicago June. Rys. & Union Stock Yds. Co. (The)*t Cincinnati, Newport & Covington Lt. &Trac. Co.*f Claflin, H. B., Co. (The) Cleveland Telephone Co. (W.T.& T.)f Colonial Sugars Co.f Colorado Fuel & Iron Co. (The)*f. • • • Colorado & Wyoming Ry Crystal River RR Columbus&Hocking Coal&Iron Co.*f Commercial Cable Co.*f Consolidated Coal, Iron & Land Co. . . Consolidated Gas Co. of Bait, City.*f. Consolidated Gas Co. of New York*f • Consolidated Tobacco Co Consolidation Coal Co.*t 1162 1162 1162 1162 1249 1162 1163 1163 1164 1164 1166 1266 1155 1166 1167 1169 1169 1169 1170 1173 1171 1171 1175 1174 fW OSee, also, Statement of Dividends Paid, 1898-1903, on p«*es 1452 to 1459. Inclusive: and (») Table of Annual Meetings and Transfer Agencies on pages 150O-I5O3, Inclusive. ^ IM-I.X Misri;!.i..\Ni:c>rs colU'ORATIONS. M i-< i-ii i I Corporation* Continental CaceoCo.(Cons.Tol>.)*t 1 1~<> Coin Products ('o.*f ............... 1 177 Crucible Steel Co. of America*! ...... 1 1 7s CumberlamlCoal Ass'n. (Pac. ('. Co.)- 1212 CumberlandTelephone&TelegraphCo. 1 590 Denver Gas & Electric Co.f ......... H79 Detroit City GasCo.*f ............. 1179 Diamond Match Co. *f .............. 1180 Diamond State Steel Co. (The)*f ____ 1180 I >i*t illers Securities Corp'tion*f .1 181, 1591 Eastern Milling & Export Co ........ 1267 Edison Elec. Illumg. Co. of Brooklyn (X. V.) (K. Co. El. L. & P.)f ...... 1194 Edison Elec. Illumg. Co. of Brockton. 1268 Electric Co. of America*! ........... 1182 Electric Storage Battery Co ......... 1268 Electric Vehicle Co. (The)*f ......... 1184 Essex & Hudson Gas Co. (Pub. Serv. Corp.) ........ . ................ 1000 Federal Steel Co. [U. S. Steel]f ...... 1249 Fort Street Union Depot Co. (The)*f. 1 184 Frick, H. C., Coke Co. [U. S. Steel] . . . 1252 Fuller, George A., Co ....... ........ 1184 Gas & Electric Co. of Bergen County f 1185 General Chemical Co. (The)*f ....... 1186 General Electric Co.*f (See advt. facing p. 71 , Gen. Index) .......... 1 187 H. B. Claflin Co. (The) ............. 1266 Hackensack Water Co.*f .......... 1 188 Hannis Distil. Co. of Phila. & Bait. (Dis. Securities) ................. 1182 Hudson County Gas Co. (Pub. Serv. Corp.)... ...................... 1000 Illinois Car & Equipment Co. (The) . . 1 189 Illinois Steel Co [U. S. Steel] ........ 1249 International Motor Car Co. (Am. B. Co.) ........................... 1141 International Paper Co. *f .......... 1189 International Silver Co. *f .......... 1190 International Steam Pump Co.*f. . . . 1190 Interstate Railways Co ............. 1269 Isle Royale Copper Co .............. 1270 Jefferson & Clearfield Coal & Iron Co. (The)*f ............ . H29 Miscellaneous Corporations. PAGE KanawhaA: Hocking Coal A: Coke Co. f 1192 Kentucky Distill. A: Warch. Co.*|. ... 1182 Keystone Telephone Co 1270 Kings Co. Elec. Light & Pow. Co.*f. • 1 193 Lackawanna Steel Co 1270 Lake Sup. Con. Iron Mines [U.S.Steel] 1249 Lehigh & Wilkesbarre Coal Co. f. 1194, 1591 Lehigh Coal & Navigation Co. (The)*f 1 195 Linehan Ry. Transfer Co.*f 1 197 Lorain Steel Co. [U. S. Steel] 1249 LorillardCo.,P.(The)(Contin.Tob.)*t 1177 Louisville & Jefferson ville Bridge Co. f 1197 Marquette & Bessemer Dock & Nav. Co 1272 Massachusetts Electric Cos.*f 1 198 Metropolitan Securities Co.f 1025 Mexican Telegraph Co.*f 1199 Michigan Teleph.Co.(W.T.& T.)tH55, 1591 Milwaukee Electric Ry. & Light Co. . . 1208 Milwaukee Gas Light Co.f 1 199 Minneapolis General Electric Co 1273 Minnesota Iron Co. [U. S. Steel] 1252 Montreal Lt.,Heat & Pow.Co.(The)*f 1200 National Biscuit Co.*f 1201 National Carbon Co.*f 1201 National Enameling & Stamping Co. . 1273 National Lead Co.*f 1202 National Salt Co.* 1202 National Steel Co. [U. S. Steel] 1249 National Tube Co. [U. S. Steel] (See advt., p. 16, back) 1250 New Amsterdam Gas Co. (Consol. Gas)f 1172 Newark Con. Gas Co. (The)*f 1203 New England Teleph. & Teleg. Co.*f 1203 New Hampshire Traction Co 1274 Newport News Shipbldg.& Dry Dock Co.f 1204 New York & New Jersey Tel. Co.*f . . 1204 New York & Queens El. Lt. & Pow. Co.f 1205 New York & Richmond Gas Co 1275 New York Dock Co.*f 1205, 1591 Xeu York Edison Co.(Cons. Gas. Co.) 1172 New York Mutual Gas Light Co. (Con. Gas) v 1173 Niagara Falls Power Co. (The)f 1206 North American Co. (The)f 1207 <; I:\KUAL i.\i>i;\ — MISCKI, LA. \KOUS COHPOUATIONS. S1.) Miscellaneous Corporations. PAGE Noil hern Pacific Term. Co. of Ore. (The)t 1208 Northern Securities Co. *f 1209 Northwestern Telep. Ex. Co. (Wn. T. &T.)t 1155 Ohio sceola Consolidated Mining Co 1275 Pacific Coast Co.*t 1210 Columbia & Puget Sound RR. . . 1212 Pacific Coast Ry 1212 Pacific Coast SS. Co. (P. Coast Co.)f- . 1212 Pacific Mail Steamship-Co. *f 1213 Paterson & Passaic Gas & Elec. Co.f. 1214 Pennsylvania Elec. Vehicle Co. (The) f 1214 Pennsylvania Telephone Co 1592 People's Gas Light & Coke Co. *f 1214 'hiladelphia Co. (The)*f 1215 'ittsburgh SS. Co. [U. S. Steel] 1258 Mcasant Vy.Coal Co. (Utah Fuel) .... 1593 'orahontas Coal Co. [N. &' W.]f 238 'ocahontas Coal & Coke Co. (N. & W.)f 237 Postal Telegraph Co. of Texas 1276 Pressed Steel Car Co. *f (See advt. in Classified Index, p. 1682) 1218 Procter & Gamble Co. (The)*f 1219 'ublic Service Corporation of N. J. . .. 997 'ullman Co. (The)*t 1219 iuebec Bridge Co. (Ltd.) 1220 Juiney RR. Bridge Co.f 1220 Railroad Securities Co. (The) 1220 Railways Company Generalf 1222, 1592 Railway Steel-Spring Co.* (See advt. in Classified Index, p. 1711) 1221 Republic Iron & Steel Co.*f (See advt. in Classified Index, p. 171 1) 1222 Richmond-Washington Co 238 Rochester & Pittsburgh Coal & Iron Co.*f 1223 Rubber Goods Manufacturing Co.*f. . 1224 St. Joseph Stock Yards Co.*f 1224 Miscellaneous Corporations. PAGE St. Louis Term. Cupples Sta. & Prop. Co.*f 1225 Sacramento Coal Co. (Pac. C. Co.). . .. 1212 Sault Ste. Marie Bridge Co.f 1225 Shelby Steel Tube Co.[U.S.Steel] (See advt. in Classified Index, p. 1702) . .. 1250 Sloss-Sheffield Steel & Iron Co.f 1225 Southwestern Teleg. & Telep. Co. (Wn.T.AT.)t 1155 South Yuba Water Co. of New Yorkf 1226 Standard Distill. & Distrib. Co. (Dist, Securities Co.) *f 1 182 Standard Gas Light Co. (Cons. Gas) *f 1173 Standard Milling Co.*f 1226 Standard Oil Co. *f 1227 Standard Rope & Twine Co.f 1227 Street Ry.& Illuminating Propertiesf 1228 Sunday Creek Coal Co.*f 1229 Swift & Co.*f 1229 Syracuse Lighting Co 1276 Tamarack Mining Co 1277 Tennessee Coal, Iron & RR. Co.*f. . . . 1230 Texas & Pacific Coal Co.*f 1231 Texas Pacific Land Trust f 1231 Trenton Potteries Co. (The)*f 1232 Union Bag & Paper Co.*f 1232 Union Steel Co. [U. S. Steel] 1250 Union Supply Co. [U. S. Steel] 1252 United Elec. Lt. & Pow. Co. (The)*f. 1232 United Elec. Co. (Pub. Serv. Corp.) . . 1000 United Elec.Light & P.Co.of N.Y.*f. 1173 United Fruit Co.*f 1233 United Gas Improvement Co.(The)*f 1234 United Gas & Electric Co 1592 United Power & Trans. Co. (I. Rys. Co.) 1269 United States Cast Iron Pipe & Foun- dry Co.* 1234 United States Envelope Co.*f 1234 United States Leather Co. (The)*f . . . 1235 United States Realty & Construction Co 1277 United States Mortgage & Trust Co.*t 1236 United States Reduction & Refining Co.* 1237 United States Rubber Co.*t 1238 United States Shipbuilding Co 1279 ; '• (*) See, also. Statement of Dividends Paid, 189(5-1903, on paces 1452 to 1459, Inclusive; and (t) Table of Annual Meetings and Transfer Agencies on pages 15OO-1S03. inclusive. (M:\KU.\L 1M>K.\ — M is. 'i :u..\ M :«u s CORPORATIONS. M i«< i-ii. HH-. ni- Corporal Ions. nite.l Slates St.-el Corporation *t . . liemxoo.l A- Wheeling Conn Ry. Bessemer A Lake Krie RR ...... Chic.,LakeShoreA- Kast Ky.12.Yl, Dulnth A- Iron Range UK ....... Dul nth. Missal ic A .Northern RR. Klgin, Joliet & Eastern Ry ...... Klluoo.l. Anderson A- l.apelleRR. Etna & Montrose 1{ R .......... Johnstown & Stony Creek KH. . . Lake Terminal Rll ............ McKeesport Connecting Hit ..... McKeesport Terminal 11 R ...... Masontown & New Salem RR. . . Meadville, Conneaut Lake & Linesville RR ............... Mount Pleasant & Latrobe RR . . Newburg & South Shore Ry ..... Northern Liberties RR ......... Pittsburgh & Ohio Valley Ry. ... Pittsburgh, Bessemer & Lake ErieRR. . . 1253 1253 1570 1254 1255 1255 1256 1256 1256 1256 1256 1256 1256 1253 1256 1257 1257 1257 1253 Miscellaneous Corporations. PAGE Slaekwater Connecting RR 1257 South West Connecting Ry 1257 I'liion RR., Pittsburgh, Pa 1257 Wankegan & Mississippi Vy. Ry. 1257 Youghiogheny Northern Ry 1258 Utah Fuel Co . . . 1592 Virginia-Carolina Chemical Co.*f 1258 Virginia Co. [N. & W.]f. . . : 238 Virginia Iron, Coal & Coke Co.f 1259 Virginia & Southwestern Ry .... 1260 Vulcan Detinning Co. (The) 1281 Westchester Lighting Co. (U. G. Impt.) 1234 Western Telep. & Teleg. Co. (A. T. & T.)t H54 Western Union Telegraph Co.*f 1261, 1594 Westinghouse Elec. & Mfg. Co. *t .... 1262 Wisconsin Telep. Co. (Wn.T. & T.) . f 1155 GENERAL INDEX — STATE AND CITY DEBTS. 91 GENERAL INDEX, Continued. — PART 4: DEPARTMENT OF STATE AND MUNICIPAL INDEBTEDNESS. Mate and City Debts. PAGE Akron, O 1394 State and City Debts. PAGE California, State of 1 290 Cambridge, Mass 1327 State and City Debts. PAGE Dubuque, la. . . 1307 Alabama, State of .... 1287 Albany County, N. Y.. 1363 Albany, N. Y 1364 Duluth, Minn . . 1345 Camden, N. J 1356 East Orange N J 1356 Canton, O 1394 Alexandria, Va 1421 Cass County, Mo 1348 East Providence, R. 1 . 1410 East St. Louis, 111 1303 Allegheny County, Pa. 1403 Allegheny, Pa 1403 Central Falls, R. I .... 1410 Charleston, S. C 1413 Elizabeth, N. J 1356 Allen County, Ind 1304 Allentown, Pa 1404 Charlotte, N. C 1391 Elmira, N. Y. . . 1366 Chattanooga, Tenn ... 1415 Chelsea, Mass 1328 Erie County, N. Y . . . . 1363 Erie, Pa. . 1404 Altoona, Pa 1404 Amsterdam, N. Y 1364 Chester, Pa 1404 Essex County, N. J 1354 Evansville, Ind 1304 Arizona Territory 1289 Chicago, 111 1302 Arkansas, State of 1290 Arlington, Mass 1318 Chicago Sanitary Dis- trict 1302 Everett, Mass 1329 Fall River Mass 1329 Aroostook County, Me. 1313 Ashevffle, N. C. .". 1391 Chicopee, Mass 1329 Cincinnati, O 1395 Findlay O 1398 Ashland, Wis 1426 Cleveland, 0 1396 Fif phhiiriy IVfaec 1 t^fl Atchison, Kan 1309 Colbert County, Ala. . . 1287 Colorado Springs, Col . 1 292 Colorado, State of .... 1292 Columbia, S.C 1413 Florida State of 1298 Atlanta, Ga 1299 Fnrt Wavnp TnH 1^0^ Atlantic City, N. J. . . . 1355 Auburn, Me 1313 Fort Worth, Tex 1418 Fostoria O 1398 Auburn, N. Y 1365 Columbus, Ga 1300 Franklin County, O . . . 1392 Frederick Md 1316 Augusta, Ga 1300 Columbus, 0 1397 Austin, Tex 1417 Concord, N.H 1353 GalvestonCounty.Tex. 1417 Galveston Tex 1418 Baltimore Md 1315 Connecticut, State of. 1293 Cook County, 111 1301 Bangor Me 1313 Council Bluffs, la 1307 Georgia State of .. 1299 Bath Me 1313 Covington, Ky 1310 Gloucester Mass 1330 Bav City Mich 1341 Cranston, R. 1 1410 Grand Rapids, Mich. . . 1342 Great Falls Mont 1350 Bavonne N J 1356 Cumberland, Md 1315 Beatrice, Neb 1351 Cuyahoga County, O. . 1392 Dallas, Tex 1417 Gunnison County, Col. 1292 Hamilton County, O . . 1 393 Hamilton, 0 1398 Belfast, Me 1313 Beverly, Mass 1318 Bexar County , Tex ... 1417 Binghamton, N. Y 1365 Birmingham, Ala. . 1288 Danbury Conn 1294 Danville Va 1421 Harrisburg, Pa 1404 Davenport, la 1307 Hartford, Conn 1294 Boston, Mass 1318 Day ton, O... .. 1398 Haverhill, Mass 1331 Bridgeport, Conn. . . 1294 Delaware, State of. ... 1297 Denver, Col 1293 Hennepin Co., Minn. . . 1344 Henry County, Mo 1348 Hoboken, N. J 1356 Bristol County, Mass. . 1317 Brockton, Mass 1326 DesMoines la.. . 1307 Brookline Mass.. 1327 Detroit Mich 1342 Holyoke, Mass 1331 Buffalo, N. Y 1365 Burlington, la 1307 District of Columbia .. 1 297 Doniphan Co. , Kan ... 1 308 Douglas County, Kan. 1308 Douglas County, Neb . 1 350 Dover. N. H.. .1353 Houston, Tex 1418 Hudson County, N. J.. 1355 Idaho, State of 1301 Burlington, Vt . . . . 1420 Butler County O 1392 Butte Citv, Mont . . . 1350 Illinois, State of .. . 1301 <;I:M:K.\I. INHKX — STATI: AND CITY DEBTS. -i .11.- and City Debts. PAGE I iuiiaiiai>oli> Iinl 1305 State and City Debts. PAfiM Maiden Mass. . . . 1334 State and City Debts. p >>'.'. Newton, Mass 1336 Indiana Si ate of 1303 Manchester, N. H 1353 New York. X Y. ...... 1368 New York. Stale of.. . I:;I,L' Niagara Tall-. N. Y... 1387 Norfolk, Va 1422 Iowa State of 1306 Manchester, Va 1422 Jackson County, Mo. . 1348 Jacksonville, Flu 1298 Marion County, Ind. . . 1304 Marlborough, Mass. . . 1335 Maryland , State of . ... 1314 Massachusetts, State of 1316 M'CrackonCo., Ky. . . . 1310 Medford Mass 1335 North Adams, Mass. . . 1337 Northampton, Mass. .. 1337 NorthCarolina.Statcof 1390 North Dakota, State of 1391 Norwalk, Conn 1296 Jamestown, N. Y 1367 Johnstown Pa.. 1404 Jefferson County, Ala . 1287 Jefferson County, O. . 1394 Jersey City N. J. . . 1357 Melrose, Mass 1335 Memphis, Tenn 1415 Norwich, Conn 1296 Kansas City, Kan 1309 Kansas City Mo 1348 Meriden, Conn 1294 Norwood, 0 1399 Michigan, State of .... 1341 Middlesex Co., Mass. .. 1318 Middle-town, Conn .... 1295 Milwaukee, Wis 1427 Oakland, Cal 1291 Kansas State of 1308 Ogden, Utah 1419 Kearny %« J 1358 Ohio State of 1392 Kentucky, State of. . . 1310 Knox County, Tenn .. 1415 Knoxville, Tenn 1415 Minneapolis, Minn.. . . 1345 Minnesota, State of ... 1344 Mississippi, State of. .. 1347 Missouri, State of 1347 Oklahoma.Territory of 1401 Omaha, Neb 1351 Orange, N. J 1359 r»rorrr>n Staff, nf 1 4H 1 Mobile, Ala 1288 , Oshknsh Wis 1428 Lafayette County, Mo. 1348 Lancaster Co., Neb. . . 1350 Lancaster, Pa 1405 Mobile County , Ala ... 1 288 Monroe County, N. Y. 1363 Montana, State of 1349 Montclair N J. . 1358 ()s\vc"o \ Y.. 1387 Otoe County, Neb .... 1351 .Passaic, X. J 1359 Lansing, Mich 1343 Montgomery, Ala . . 1289 Lawrence Co., So. Dak. 1414 Lawrence, Mass . . . . 1332 Passaic County, N. J. . 1 ;>•">."> Paterson, N. J 1360 Montgomery Co., Ala.. 1288 Mount Vernon, X. Y . . 1367 Muhlenberg Co., Ky.. . 1310 Muskegon, Mich 1343 Leaven worth Co., K&n. 1308 Leaven worth, Kan. . . . 1309 Lee County la 1306 Pawtucket, R. I. .. . 1411 Pennsylvania, State of 1402 Peoria 111 1303 Leominster, Mass. . . . 1332 Muskingum County, O. 1394 TVooViuQ ivr H 1^*14 Perth Amboy, N. J. . .. 1360 Petersburg Va. . 1423 Lewiston, Me 1314 Lexington, Ky 1310 Philadelphia, Pa 1405 Lima, 0 1399 NncVi\'illp TWin 141f5 Pierce County, Wash. 1424 Piqua, O 1399 Lincoln County, Nev. . 1352 Lincoln, Neb 1351 Nebraska, State of 1350 *NTf»VfiHfl ^if at£» r\f 1 ^^9 Pitkin County, Col.... 1292 Pittsburgh, Pa 1408 Little Rock, Ark 1290 NpWflrk NT 1 *}T& Los Angeles, Cal 1291 New Bedford, Mass . . . 1335 New Britain, Conn. . . . 1295 New Brunswick, N. J. 1359 Npwhiirtrh \F V 1 "ifiS Pittsfield Mass 1337 Los Angeles Co., Cal . . 1290 Louisiana, State of 1312 Louisville, Ky 1311 Port Huron Mich 1343 Portland, Me 1314 Portland, Ore 1402 Lowell, Mass... . 1332 Newburyport, Mass. . . 1336 New Castle Co. , Del. . . 1 297 N. Hampshire, State of 1353 New Haven, Conn .... 1295 New Jersey , State of . . 1 'J "> 1 New London, Conn ... 1296 N. Mexico, Territory of 1H61 New Orleans, La 1312 Newport, Ky 1311 Portsmouth, N. H 1354 Portsmouth Va . 1423 Lucas County, O 1394 Lycoming County, Pa. 1403 Lynchburg, Va. . . . 1421 Poughkeepsie, X. Y. .. 1387 providence R I 1411 Lynn , Mass 1 333 Pueblo Col 1293 Macon, Ga. . . . 1300 Pueblo County, Col... 1:"'-' Pulaski County, Ark.. 1290 guiii.-v 111 1303 Macoupin County, 111. 1302 Mahoning County, O. . 1394 Maine, State of. . . 1312 Newport. R. I. . . 1410 Quincv. Mass. . . 1338 GENERAL INDEX STATE AND CITY DEBTS. State ana city ueois. PAGE Racine Wis .... 1428 PAGE Shawnee County.Kan. 1308 Sioux City, la 1307 state ana i*ty ueots. PAGE Vanderburgh County, Ind 1304 Rah way N J . 1360 Ramsey County, Minn. 1344 Reading Pa 1409 Somerville, Mass 1338 Vermont, State of 1420 Vicksburg, Miss 1347 SouthCarolina,Stateof 1412 South Dakota, Stateof 1413 Spokane Co., Wash . . . 1424 Spokane, Wash 1425 Rensselaer Co., N. Y . . 1363 Rhode Island, State of 1410 Richmond Va 1423 Virginia, State of. .. 1421 Waco, Tex 1419 Rninnkp Va 1424 Springfield 111 1303 Rochester N Y 1388 Springfield Mass 1339 Waltham, Mass 1340 Rock ford 111 1303 Springfield, 0 1400 Washington Co., Me . . 1313 Washington, State of. 1424 Waterbury, Conn 1296 Wayne County, Mich. 1341 WestVirginia.State of. 1426 Weymouth, Mass 1340 Rockland Me 1314 Staunton, Va 1424 Rutland, Vt 1420 Suffolk County, Mass. 1318 Superior, Wis 1428 Ctnorompnf-n Pal 1291 Syracuse, N. Y 1388 Sacramento Co., Cal . . 1291 Saginaw Mich. .. 1343 Tacoma, Wash 1425 Whatcom, Wash 1425 Whpplinr>pka K"nn 1 S09 Sandusky, 0 1400 Trpntnn N T 1360 San Francisco, Cal 1291 Santa FeCounty.N.M. 1362 Savannah, Ga 1300 Troy, N. Y 1389 Woonsocket, It. 1 1412 Tulare.Cal 1291 Wyoming, State of 1429 Yonkers, N. Y 1390 Ulster County, N. Y. . 1363 Union County, N. J . . . 1355 United Statesof Amer- ica 1283 Schenectady, N. Y. . . . 1388 Schuylkill County, Pa. 1403 Scranton, Pa 1409 Seattle, Wash 1425 Zanesville, 0 1401 SedgwickCo.,Kan. ... 1308 Selma. Ala. . . 1289 Utah, State of. . . 1419 RAILROADS MERGED IN OTHER LINES. The follow-in* statement .shows the names of companies which have ceased to exist since 1890, the lengths of thnr complete"! lines, ami the names of existing corporations in which title to these roads has become (For I i-i of i:...i.i- M. i L;. .1 . etc., previous tu 189O, -<•«• Manual for 10OI.) 1.— Steam Railroads. NAME OK OLD COMPANT. TERMINI OF COMPLETED ROAD AT THE TIME or ITS ACQUIRE- MENT. LENGTH IN MILKS. NAME OF COMPANY BY WHICH ACQUIKKD, OH TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED HY KX;BT- ING COMPANY. Abbeville A Waycross Abbeville Southern Aberdeen & West Fud Abbeville to Fitzgerald. Ga Abbeville Jc. to Abbeville, Ala ( Aberdeen to Star. N. C 22.25 26.07 33.25 7.50 41.00 56.97 77.57 174.93 32.79 133.88 6.00 35.00 29.50 1200 53.33 11.10 52.00 32.92 28.64 4.96 91.50 43.00 25.00 4.22 18.66 60.00 3.50 Georgia A Alabama Savannah, Florida A Western. Merged Aug. 15, 1896. Merged Sept. 2. 1901. See Manual for 1898. | May 20. 1898.* Absorb.) Nov. 5. 1902. Purch. Dec. 17, 1900. ConsoLJuly 1. 1901. Purch. 1900-01. Addison & Pennsylvania . . . | Trov Junction to Troy, N. C Addison, N. Y. to Gaines, Pa Saratoga to North Creek NY j Addison A Susquehanna Delaware A Hudson Co_ Louisville A Nashville, .- Savannah, Florida A Wt-st. Louisville & Nashville Alabama 4 Florida Georgiana to Geneva, Ala ) BainbridRe,Ga.,to Montgomery.Ala. Alabama Midland Alahnmn Mineral Alameda County Terminal. .. Albany Florida A North'n.. . Albemarle A Pantego See Manual for 1901. page 417 Alameda County. Cal Albany to Cordele. Ga ( Mackey's Ferry to B'lle Haven.N.C. Albany A Florida > Norfolk & Southern Sept. 12, 1895.* ConsoL June 1. 1891. Consol. in 1893. Purch. Feb. 15. 1902. Nov. 15, 1898.* Merged Jan. 1.1901. ConsoL 1900-1901. Consol. Mar. 26, 1890. Consol. Mar. 26. 1890. Name changed May 23,'OI. Albcmarle A Raleigh Alberene Tarboro' to Plymouth, N. C Warren to Alberene. Va. Salisb'y to Honewell A Harvey, N. B. . Wilmington A Weldon Chesapeake A Ohio Salisbury A Harvey Chic., Burlington & Quincy. . . Arkansas Southern Washington Southern Albert Albia, Knoxv. A DPS Moines Alexan. Jo. A Shreveport. .. Alexandria A Fredericks!/ g. Alexandria A Washington. .. Algoma Central Allegheny A Kinzua. Alliance A Northern Logging Road in Mich.. Alexandria to Quantico. Va Alexandria to So. End Long Bdg., Va.. S. Ste Marie.Ont.to Spruce Lk.A brs.. See Manual for 1887 p 53 . ... Algoma C. A H. Bay (The). . . \bandonedin 1898 Alliance to Phalanx. 0 Alloway Junction to Quintan, N. J. . . . No road built by this company Logging road in Mich Alpena toward Mack'c. Mich., A brs . . L. E.. Alliance A Wheeling. . . West Jersey & Seashore Maxton, Alma A Rowland. . . . Abandoned 1891-92 Detroit & Mnckinac Purch. Jan. 25, 1901. Consol. Mav 4, 1896. Name ch'd'Mar. 9. 1889. Purch.' April 18.' 1896.' Purchased in 1898. Purch. March, 1891. Name changed in 1891. Feb. 26. 1897 * Merged Mav 20, 1899. June 2, 1890.* Alma A Little Rock Alpena A Hubbard Lake. . . . Alpena A Northern Alton Terminal Term, nnd other tracks in Alton, 111. . . St. L., Alton A Springfield. . . . Altoona, Clearfield & North . . Altoona A Beach Creek.. .... Chic., Burlington A Quincv. . . Findlay, Ft. Wavne A West. .. Abandoned 1895 96 Altoona A Wapsononock. .. . Altoona. Clearf. A North'n. .. American Central Juniata to Wapsononock, Pa 8.00 13.00 50.83 23.30 21.00 4.80 2620 22.00 52.30 34.33 6.00 13.00 55.30 4.00 24.33 46.97 23.00 1000 15.91 22.75 65.90 68.00 25.00 4.00 6.15 24.00 Galva to New Boston. Ill American Midland Findlay to Glandorf, 0 \ Crowley's to Lewiston, Me Merged 1895-96. Jan. 25, 1894. Consol. July, 1890. Consol. July. 1890. Reorg. in June, 1893. Merged July, 1901. *0ct. 12. 1902. Merged June 21. 1901. Purchased in 1900. Annapolis A Balto. Slit. Line i Brunswick to Leeds Junction, Me. . . Clifford's to Baltimore Md . . . Balto. A Annapolis Slit. Line. Alabama Mineral Alabama Mineral Abandoned Florida, Peninsular A Gulf — j El Paso A Southwestern . . . St. Louis, San Fran. A N.Orl's St. Louis A San Francisco Louisiana A Arkansas Abandoned 1896 97 Anniston to Sylacaugn, Ala Anniston to Atalla, Ala Braidentown to Sarasosta, Fla \ Benson to Bisbee, Ariz. / Nr.co Jc. to Naco. Ariz. . . . ', Ashdown to Arkinda, Ark See Manual for 1901, p 517 Cotton Valley to Sibley. La Termini not reported. ... Anniston A Cincinnati Antwerp A Paulding Arcadia. G'lf Coast A Lake'd Arizona A Southeastern Arkansas A Chnctnw Arkansas A Oklahoma Arkansas, I/a. A Southern. . . Arkansas Western Arstook Northern Caribou to Limestone. Me Star to Asheboro, N. C * Biltmore,N.C.,to Spartanb'g Jc.S.C. i Spartanburg to Alston, S. C Custaloga to Ashland. 0 .( June. N. E. RR. to Bee's Ferry Bangor A AroMtook Aberdeen A Asheboro | Southern Ry. Car. Div Lake and River J Savannah, Florida A West.. Purchased 1901-1902. Consol. in 1899. Consol. July 1, 1902. Consol. 1902-1903. Merged Sept. 2, 1901. Consol. Feb. 9, 1890. Asheboro A Montgomery. . . . Ashrville A Spartanburg. .. Ashland A Wooster. Ashlev River Ashuelot South Vernon, Vt., to Keene, N. H. . . Ashville A Coosa. Aspen A Western Carb'nd'letoThoms'nCr'k Mines. Col. Crystal Ijike to Arkansas Jc., Col 13.00 0.60 Purch. Aug. 11, 1S92. Consol. Dec. 1, 1893. Colorado Midland * Acquired by purchase at foreclosure or reorgani7ed after foreclosure ?ale on date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 96 NAME OF OLD COMPANY. TERMINI or COMPLETED ROA.D AT THE TIME OF ITS ACQUIRE- MENT. LENGTH IN MILLS. NAME OF COMPANY BY WHICH ACQUIRED. OB TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Astoria & Portland Young's Bay to Clatsop Beach, Ore. . . 15.78 Seashore May 17. 1893. February. 1892.* Consol.July7, 1899. Acquired 1901-02. Purch. June 21, 1895. Astoria 4 South Coast Atchison. Colo. & Pacific. . . . Atch., Jewell Co. & West'n. . Atch.. Top. & S. Fe in Chic. .. Atlanta & Florida Atlanta 4 Mt. Pleasant \thnta Lumber Co.'s RR. . . Young's Bav to Clatsop Beach, Ore. . . See Manual for 18 M. p. 583 Jamestown to Burr Oak, Kan Terminals in Chicago, III 15.78 254.7 > 33.40 643 102.30 9.70 15.00 5.30 112.05 576.40 30.00 16322 Astoria and Portland j Central Branch Ry. Atchison, Topeka & S. Fe. . . . Southern Atlanta to Fort Valley, Ga In Cass County, Tex. Name changed 1896-97. Dec! 18, 1897.* May 3, 1897.* Purch. May 1, 1893. See Southern Ry. Purch. Aug., 1894. Consol. May 1, 1900. Consol. May 1, 1900 Consol. May 1, 1890. Dec. 17, 1896.* Purchased Oct. 16, 1902. March 3, 1894.* Purch. Jan 10, 1890. Feb. 20, 1893 * Jan. 5, 1891. Name ch. June 22, 1852 Merged Sept. 3, 1901. Purchased in 1902 Purch. March, 1900 Purch. April 16. 1894. Merged June 1, 1901. Sept. 1, 1894.* Consol. Feb. 15, 1901. June. 1894.* Nov., 1894.* See page 61. Consol. 1899. Merged Julv 1, 1901 Purch. April 1, 1899. Consol. May 6, 1902. Consol. May 6, 1902. Consol. May 24, 1902. Atlanta. W. E. 4 McPherson Atlantic & Pac., Cent. Div. . . Atlantic 4 Pac., West. Div. . Atlantic & Western Seneca. Mo., to Sapulpa, I. T Street Railways St. Louis & San Francisco Santa Fe Pacific Jack., St. Aug. & Ind. Riv. . . . See Manual for 18J7, p. 275 Blue Springs to Now Smyrna, Fla .... See Manual for 1902, page 228 Atlantic, Tenn. 4 Ohio All. Coast L. RR. Co. of S. C. Atl. Coast L. RR. Co. of Va. . Atl.Coast, St. Johns & Ind. R. Atlantic Short Line Atlantic, Yr.l. 4 Western. . .. Charlotte to Statesville, N. C 45.91 See Manual for 1300, p. 344 See Manual for 1 300, p. 344 Enterprise to Titus villa. Fla Bruton, Ga. to a point southeast VaHosta, Ga., t.i Gd. Crossing, Fla. . . Attica to Freedom, N. Y Coats to Gregory, Ark. Augusta to Sandersville, Ga Carrabelle to Ocklockonee Riv., Fla. . . Aurora to Turner Junction, 111 See Manual for 1902, page 580 67373 91.61 37.00 23.00 105.61 33.00 6.00 80.00 11.50 12.35 107.86 5.01 36.00 80.00 29.87 3.72 87.00 1.03 4290 42.90 37.03 4.00 917.22 Atlantic Coast Line RR. Co. . . Atlantic Coast Line RR. Co. . . Jack., Tampa 4 Key West . . . Bruton & Pineora Ga., Siuthern & Florida Buffalo, Attica 4 Arcade Batesville & Brinkley Augusta Southern Carrabelle. Tallah. & Ga Chicago & Aurora Houston & Texas Central. . . International & Gt Northern . Texas 4 Pacific Atlantic 4 Lake Superior > Delaware... Augusta & Southeastern Augusta, Gibson 4 Sandersv. Augusta, Tallahassee & Gulf. Aurora Branch RR Austin & Northwestern Austin Dam and Suburban. . Avovolles RR At Austin, Tex. . . : See Manual for 1900, p. 4,50 Metapedia to Caplin, Que. ) Clayton, Del., to Chestertown, Md. Baltimore & Delaware Bay. . Baltimore & Eastern Shore. . Baltimore & Lehigh Balto. & Lehigh in Md Balto. & Lehigh in Pa Balto. & Ohio Southwestern . Balto. 4 Ohio Southw. Term. Bangor & Katahd. Iron Wks j Claiborne, Md , to Ocean City, Md . . | Balto., Chesapeake & Atl. . . Maryland & Pennsylvania. . . . Baltimore 4 I^ehigh 5 York Southern. . . . Baltimore to Cardiff. Md Baltimore to Cardiff, Md j York to Delta and So. Delta, Pa See Manual for 1902, p. 56 Track & terms, in Cincin. & Chillic., 0. Milo Jc. to Katahdin Iron Works Baltimore 4 Ohio Balto. 4 Ohio Southwestern . . 18.90 76.50 Bartjirton, Akr. 4 E. Belt L. Barberton Belt Line Barclay No road built by this company Barberton Belt Line Around the city of Barberton. 0 j Towanda, Pa., to Foot of Plane. . . 8.78 14.02 1.59 4.00 9.00 11.50 12.00 58.00 6.00 12.00 17.33 6.21 Akron & Barberton Belt | Susquehanna & New York . Abandoned, 1891-92 BarkCarapRR Barnwell . ... Termini not reported Blackville to Barnwell S. C Consol. May 11, 1891. Bartlett & Albany Bartow 4 Dublin Batesville & Brinkley Bartlett to Albany, N. H Termini not reported f Brinkley to Jacksonport, Ark Operations suspended Abandoned & track taken up . } White 4 Black River Vy... Abandoned, 1896-97. Name ch'd Jan., 1890. Baton Rouge, Mobile & Pon.. Battle Creek & Bay Citv. . . . Bay City Belt West Bav Citv to Midland City, Mich . At Bav Citv, Mich Bav City 4 Battle Creek Reorg. Sept., 1889. Proprietary road. Consol. Jan. 1, 1897. Consol. July. 1900. Pere Marquette Bay of Quinte Ry. & Nav — Bear Lake & Eastern Deseronto Jc. to Deseronto, Ont Pierport to Springdale, Mich Bcattyville Jc. to Beattyville, Ky. 400 16.00 770 1200 2.00 16.25 74.18 41.40 7.00 110.75 9.45 17.30 5040 50.40 Abandoned, 1901-1902.. Louisville & Atlantic Beattvville 4 Cumberl. Gap.. Beaufort Co RR Abandoned & track taken up . Beaver City. Beaver Creek 4 Cumberl'd. . Beaver Vallcv Bedford & Bloomfield . .. Termini not reported Nebraska Line to St. Francis, Kan Bedford to Switz Citv, Ind St. Clairsville to St. Clairsv. Jc., 0. . . . Bellaire to Mill Run 0 Greenwood Ry. & Coal Chic., Burlington & Quincy. . . Chic., Indianap. & Louisv Central Ohio Ohio River 4 Western Name ch'd Oct. 6, 1890 Perpetual lease. Merged July 1,1897. Jan.' 1.' 1963.'* Merged Aug 1. 1889. (.See Manual for 1898. ^ l>age 471. Consol. Mav 21. 1889. Consol. Dec. 27, 1889. Bellaire 4 St. Clairsville Bellaire, Zanesville & Cincin . B'fonte. Nittanv & Lament . Belleville * Carondelet Belleville 4 Eldorado Jc. L. 4 T. RR. to Bellefonte, Pa Belleville to E. Carondelet, III Bald Eagle Valley Belleville* So. Illinois Belleville, Centralia 4 East. . Bell's Gap Belleville to Du Quoin 111 L'ville, Evan. 4 St. L. Cons. . . Bellwood to Irvona, Pa 25.30 20.00 8.97 57.06 1.85 101.74 Penn. 4 Northwestern Abandoned Dec 20 1895. . . . Belva & Elk River Bennington & Glastenbury. . Bennington & Rutland Big Horn Southern Binshamton, Towanda 4 W. Birmingham, Laney & Pied . Bennington to Glastenbury. Vt > Rutland to Bennington, Vt Merged July 30, 1901. Purch. Dec. 31, 1897. Consol. May 27. 1902. i North Bennington to White Creek. . Wyo. Line to Huntley, Mont Chie., Burlington 4 Quincy. . . Susquehanna 4 New York . . . No longer in existence 5.00 Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. 90 POOR'S MANUAL OK UAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. NAME OF OLD COMPANT. TERMINI OK COMPLETED ROAD AT THE TIME OF ITS ACQUIRE- MENT. I F.NGTH IN MILKS. NAME OF COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST ING COMPANY. Birmingham Mineral Birmingham, Solma A N. 0. . Birm. Slieff. ATenn. Riv... See Manual for 1902 page 266 175.82 60.00 119.01 23.00 2).; 37.94 8.0S 3. .50 Purch. 1900-1901. Merged April 21. 1902. Sept. 16. 1895.* Name changed Dec., "91. N'ame changed 1901-02. Purch. Aug. 1, 1901. Selma to M vrtlcwood, Ala Sheffield to'Parrish, Ala., A bre \tkins to Lucknow. S. C Louisville A Nashville Northern Alabama South A North Carolina Black A Cache River Black Hills 4 Fort Pierre.... Black Lake A Sherman's Vy . Blackville Alston A Newb'y. Blackwell, rnidA'lexas. Blackwell Southern Ry Blakelev sec Manual for 1902. p. 506 1 Golden Gate to Piedmont, So. Dak . J Chic., Burlington A Quincy. Not in existence Blackvilie to Seivern, S. C x-c Manual for 1902, p 752 Hunnewell, Kan., to Tonkawa, 0. T. .. 30.00 ' "24J3 Carolina Midland •it. Louis A San Francisco. . . . Atch.. Top. A Santa Fe Ry.. . . Private RR.; no returns Consol. Mavll. 1891. Acquired Feb. 8, 1903. Absorbed Jan. 26, 1900. In Skagit Co., Wash At Bloomsburg, Pa 5.00 0.39 396 20.90 21.00 36.00 5.56 8.50 21.60 20.7o 2075 34.00 145.83 20.39 61.22 4.70 2.60 13.00 7.80 10.23 4.31 9.46 90.92 34.74 17.00 9.00 31.40 20.60 14.00 3275 Private RR.; abandoned. . . . Rupert A Bloomsburg RR . . . Illinois Central Consolidated in 1900. Blue Ridge A Atlantic Cornelia to Tallulah Falls, Ga i Anniston to a point 4 miles north ) Tallulah Falls Abandoned in 1894 Nov. 7. 1897.* Blue Mountain Mineral Bodie Ry. A Lumber Co Reorganized. Purchased 1899. 1898. Purchased May 1, 1902. Consol Oct. 8. 1902. Merged Jan. 1899. Reorg. Nov. 23, 1894. Consol. Sept. 1889. Purch. June 1, 1887. Consol. July 1, 1891. Purchased in 1899. March 28, 1892.* Boise City Ry. A Terminal . Bombay A Moira Boone County A Boonville. Boone. Rockwell Cy.AN.W... Boone Vallev Coal A Ry. . . . Boston A Albany. Ga. . . . . Boston, Concord A Montreal. Boston, Hoosac Tunnel A W Boston, Winthrop A Shore. . Bowers A Piney Creek Bovle A Sunflower River Bradford. Bordcll & Smethp. Bradford, Eldred A Cuba . . . Bradford, Richburg A Cuba . Brainerd A No. Minnesota. . . Brantrd.NorfkAPt.Bu'11. Brantfd, Waterloo A L. Erie Breckenridge Short Line. . . . Briarfield, Bloc'n A Tenn. R. Brigantine Beach Bright Hope Nampa to Boise City, Id Bombay to Moira. N. Y Centralia to Columbia, Mo Fraser to Cowrie, la Fraser to Gowrie, la Pidcock to Moultrie, Ga.. and branch. . \ Concord to Groveton Jc., N. H Operations suspended May 25, Columbia A St. Louis Newton A Northwestern Marshalltown A Dakota Georgia Northern '' Wing Rd. to Mt. Washington. N. H.. Rotterdam Jc. to Vt. and Mass. Line. . f East Boston to Winthrop. Mass 1 Crescent Beach to Point of Pines. . . Kimball Lake to Boyle, Miss Fitchburg ) Boston, Revere Beach A \ No longer in existence Yazoo A Miss. Valley Bradford, Bordell A Kinzua.. . Abandoned in 1893 Abandoned in 1893 Little Gen., N.Y., to Ceres (Pa. Line) . Fldred Pa to Ceres, N. Y. Brainerd to Bemidji, Minn Brantford to Glencoe Loop lane. Ont.. Brantford, Ont., to Waterloo, Ont. . . . Cloverport to Victoria, Ky {Birmingham Jc to Blockton, Ala. . . Minnesota A International. . . Grand Trunk Ry. of Canada. . Toronto, Hamilton A Buffalo. Merged Julv 1.1901. Consol. in 1893. Successor, Dec. 1, 1892. j- E. Tenn., Va. A Ga Brigantine Jc. to Brig"e Beach, N. J. . . Bermuda to Eppes Falls, Va Philadelphia A Brigantine. . . . April 1, 1896.* July 23, 1889.* Bristol Belt Line Bristol, Elizab. A No. Car.. . . British Yukon At Bristol, Tenn Bristol to Elizabethton, Tenn 1.00 22.00 90.45 3.75 25.00 358 See Departm't of Street Rys. . Virginia & Southwestern White Pass & Yukon Merged Jan. 19, 1899. See page 852. Owned. Merged Nov. 16, 1891. Consol. June 5, 1895. Consol. June 5, 1895. Consol. June 5, 1895. March 21, 18W.* ) White Horse to White Horse Spur | Brockport A Shawmut See Manual for 1902 p 94 \ Y L E A W Coal A RR Brock wayv. A Punxsut'ney . Brookline Brockway ville to Punxsutawney, Pa.. . Buffalo, Rochester A Pitts . . . Brookline A Milford Brookline A Pepperell Brooklyn A Brighton Bch. . . Brooksville Brownv. A Nodaway Vy. RR Brown wood A Northw*n. . . . Bruce A Clairton Brookline to Milford, N. H Squannacook Jc., Mass., to N. H. Line Brooklyn to Brighton Beach, N. Y. . . . Brooksville to Wellsburg, Ky Vallisca to Burlington Jc., Mo 7.00 10.42 7.50 10.00 46.22 9.00 Fitchburg Fitchburg Brooklyn Rapid Transit Cincin. A Licking River Chic.. Burlington A Qin'ncy. . . Cape Girardeau, B. A So West Side Belt Abandoned 1898-99 Purch. June 12, 1900. Merged Jan. 1. 1901. Consolidated in 1898. Consol. May 23, 1902. Brownwood to Zalma, Mo No road built by this company Brunswick A Pensacola Brunswick A Western Brunswick to Albany, Ga Bruton to Register, Ga 168.78 58.00 1.75 20.80 32.00 1.03 30.00 25.40 66.36 14025 Savannah, Florida A Western. Merged July 1,1901. Merged July 1, 1900. Purchased. Dec.. 1895. Proprietary road. Consol. July 30, 1888. Consol. Jan. 28. 1897. Merged Nov. 19, 1895. Merged April 3, 1896. Jan. 12, 1892.* Consol. Aug.. 1899. Absorb April 1. 1899. Reorganized 1889. Consolidated 1899. Merged Jan. 1.1901. Merged June, 1902. Bruton A Pineora Buchanan A St Joseph Buckingham Buchanan, North Out of existence Chesapeake A Ohio Moncton A Buctouche Buctouche A Moncton Buena Vista Moncton to Buctouche, N. B Greenwich to Cohansey Creek, N. J.. . . Americus to Buena Vista, Ga St. Mary's to Clermont, Pa Buffalo to Jamestown, N. Y Painted Post to Buffalo. N. Y . .. Central RR. of New Jersey Buena Vista A Ellaville, .... Buffalo A St. Mary's. Buffalo A Southwestern Buffalo, N. Y. A Erie Buff. Run, B'fnnte A Bald E. Buffalo, St. Mary's A S'w'n. . Burlingame A N'orthwest'n. . Burlington A LnmoiHp Burlington A I/amoille Vy. . . Burlington A Missouri RR . . Burlington A Northwestern.. Burnham Branch RR Buffalo, St. M. A Southwest. . Erie Bellefonte to State College, Pa Clermont to Hyde, Pa., and branch. . . Alma to Burlingame, Kan 23.20 46.23 34.00 20.00 20.00 31760 38.73 9.00 Bellefonte Central Pittsb., Shawmut A North Atch., Top. A Santa Fe Ry.. . . Burlington A Lamoille Vy. . . . Central Vermont Chic.. Burlington A Quincy. . . Burlinzton A Western Essex Jc. to Cambridz<> Jc., Vt Essex Jc. to Cambridge Jc.. Vt See Manual for 1898. p. 380. Mediapolis to Washington, la •Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. NAME OF OLD COMPANY. TERMINI OF COMPLETED ROAD AT THE TIME OF ITS ACQUIRE- MENT. LENGTH IN MILES. NAME OF COMPANY BY WHICH ACQCJIKKD, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADF.. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Busk Tunnel 2.90 4.16 Acquired 1899. Merged Jan. 1. 1902. Consol. Jan. 20, 1897. Holmesburg Jc. to Bustleton, Pa Connecting Pittsburgh, Bess. 4 L. E Abandoned Abandoned 1892-93 Butler & Pittsburgh Cadillac * Northeastern. . . ' Cidv Mills Cadillac to Lake City, Mich 14.66 8.50 11.30 259.00 8.00 16.00 25.00 258.03 113.51 8.00 210.61 64.33 4.43 66.00 8.00 27.24 20.85 32. 4S 68.73 7.27 4.8ii Consol. Jan. 1, 1893. Purchased in 1890. Reorg. June, 1890. Purch. Jan. 24, 1897. Consol. Nov., 1889. Merged April 14. 1898. Consol. Nov., 1889. Merged Feb. 17, 1897. Merged July 1, 1901. Merged May 1, 1901. Consol. May 8, 1898. Consol. Jan. 23, 1899. Consol. Oct. 1, 1890. t air;>, Yincennes & Chicago. . (Yslr.'isieu & Vernon f Cairo to Danville. Ill \ St. Francisville to Vincennes, Ind . . ) Cleveland, Cincinnati, ) /Chicago 4 St. Louis. J Calcasieu, Vernon 4 Shrevep. Kansas City, Pittsb. 4 Gulf. . . Southern California Southern Pacific San Pete Valley Southern California Chic., Lake Shore 4 East'n . . . South Chicago 4 Southern . . . International 4 Gt. North Beech Creek Calcasieu, Vernon & Shreve . California Central California Pacific California Short Line California Southern See Manual for 1897, p. 198 See Manual for 1890, p. 1009 See Manual for 1898, p. 753 Draper, Utah, to Chester, Utah Barstow to National City, Cal \t South Chicago 111 Calumet River Calvert, Waco & Brazos Vy. . Cambria County Chicago to Hegewiseh, III Marlin to Bryan, Tex. Wington Mines to Spangler, Pa Cambridge & Seaford Del.-Md. State Line to Cambridge.Md. Rushville to Cambridge City, Ind. .... Delaware RR Cambridge City Extension. . Pittsb., Cin., Chic. 4 St. L St L Iron Mt 4 Southern. . . Camdcn & Atlantic See Manual for 1895 p 656 Wrest Jersey 4 Seashore Consol. May 4, 1896. Consol. May 24. 1901. Consol. Meh. 26, 1889. Aug. 23. 1899.* Purch. March 8, 1884. Consol. April 1. 1890. Acq"ired 1001-02. Dec. 29, 1898. Consol. Mav 1, 1902. Name ch. June 3, 1891. Reorganized in 1892. Purch. Seot. 1. ' 898. Merged Nov., 1901. Reorg. Jan. 1, 1897. Consol. July 1,1902. Purch. Aug. 2, 1892. Camden County Camden, Gl'cester 4 Mt. Ep.. Mt. Ephraim to Grenlock, N. J Camden, N. J. to Mt. Ephraim, N. J . . AtlanticCity Atlantic Citv 28.70 5.28 2.21 Canal Elmira to Horseheads, N. Y Elmira, Cortland 4 North. . . . Unnn Pac., Denver 4 Gulf. . . Canon d' Aeua Victor Junction to Victor, Col Canton & Wooster Justus 0 to Nutwood Mines, 0 303 331.24 2716 94.00 9.00 24.25 273.43 24.2') 15.00 128.82 7.94 34.00 108.00 1.25 1.82 30.41 6.00 2.00 22.00 46.00 75.58 16.66 18.38 510.19 500.59 98.77 20.00 53.04 81.85 31.00 312.05 30.00 12.57 5.26 108.30 96.60 24.10 800 8.18 6.00 11.70 33.16 5.50 150.03 Wheeling 4 Lake Erie Cape Fear 4 Yadkin VY. .... C. Girardeau, Bl'ra'fd&S... . CapeGirardeauSouthwes'n . Cape May A Sewrll's Point. .. Carolina & Cumb'landGap. . See Manual for 1838. p. 821 See Manual for 1901 p 537 Atlantic 4 Yadkin St Louis 4 Gulf Cape Girardeau to Hunter. Mo Cape May Point to Swell's Pt., N. J. .. Aiken to'F.deefielH. S. C Wilmington to Rutherfordton and brs. \iken to Edgefield, S. C St. L., Cape Gir. 4 Ft. Smith. . See Gen. Index— Dep. St. Ry? Southern Car., Cumb'Iand Gap 4 Chi. . Carolina. Knox. 4 Western. . Carolina 4 Cumberland Gap. . Forecl. July 24, "96: Op. susp. [• Southern Ry.— Car. Div. . . Greenville to near Marietta, S. C f Cayce to Hardeeville, S. C Carson & Colorado, 2d Div. .. Carson 4 Colorado, 3d Div. .. Carteret 4 Sewaren ( Perry to Seivern, S. C. Junction, Nev., to Cal. Line Nevada Line to Keeler, Cal Liebig's to Port Reading RR Carteret to Staten Island Sound Purch. Aug. 2. 1892. Central RR. of New Jersey. . . Central RR. of New Jersey. . . Chic., Burlington 4 Quincy. .. Greg m RR. 4 Nav. Co Proprietary Road. Proprietary road. Merged Mav 20, 1899. Acquired 1901-02. Carteret Extension Carthage & Burlington Cascades Lower Cascades to Upper Case., Wash. Cashie & Roanoke Wellington to Powellsville, N. C Louisville to Cecilia Jc., Ky. Cedar Falls Jc., la., to Minn. Line Iowa City to Clinton, la Cedar Rapids to Marion, la Havfield to Titonka la Wellington 4 Powellsville. . . . Reorg. Oct., 1893. Purch. Dec. 19. 1901. June 1, 1896.* Proprietary road. Cecilia Branch, L. & N Cedar Falls & Minnesota Cedar Rapids & Clinton Cedar Rapids & Marion Cedar Rapids, Garner4 No'w Cedar Rap.. la. Falls & N.W. Central Iowa Burl., Ceda: Rapids 4 No See Department of St. Rys. . . Burl., Cedar Rapids 4 No Burl.. Cedar Rapids 4 No Iowa Central Purch. July 11, 1900. Proprietarv road. March. 1888. Merged April 1,1901. Consol. Aug!.'l892.' Consol. Aug.. 1899. March 10. 1902.* Oct. 17. 1895.* Name chgd. Oct. 11, 1897. Merged Sept, 3. 1901. Proprietarv road. Ian. 19. 1898.* Acquired June 1, 1900. Reorg. April 1, 1890. Hoiland, la., to Watert'wn,S.D.,4brs. See Manual for 1890, p. 512 Cambridge to Northampton Mass. . . . Lowell to Hastings. Mich. . Campbell Hall to Silvcrnails, N. Y. . . . See Manual for 1899, p. 217 Watsonville to Orangeville, Pa See Manual for 1895. p. 358 Ilamp.Stat. I.Ry. to St.Martin.N. B. jarrett to Waxahachie, Tex ">hio State Line to Jamestown, Pa. ... Whence to Coulee, Wash Salem to Chester, in., and branch \lbia to Certterville. la Chagrin Falls to Polon, 0 Falls Jc. to Chagrin Falls, 0 [Vmoeoeheasue Jc. to GraefTg. Pa Champaign to Sidnev, 111 Cen'ral Massachusetts Central Michigan Cent. New England & West'n Cent. N'ew York 4 Western. . Central Penn. 4 Western Cent. RR.&BankCo.ofGa.. Central Ry. of X. B., So. Div. Central Texas 4 Northwest' n CentralTrunk C'entral Washington Lowell 4 Hastings Phila., Reading 4 New Eng . . Pitts., Shawmut 4 Northern. . Sus., BloomsbV 4 B'wick Central Ry. of Ga Hampton 4 St. Martins Ry. . . Houston 4 Texas Central. . . . lake Shore 4 Mich. So Washington Central (VMndia & Chester Cenl'ville. Moravia & Albia. . Chazrin Falls 4 Southern Chagrin Fall* Branch Albia 4 Centerville Cleve Chi" Falls 4 Nor Wheeling 4 I ake Erie Purch. Dec. 31, 1901. C'hamlxTsb'rK^- Gettvsb'rg . Champaizn 4 Sidney Chariton, DesMoines&So'n. Charleston 4 Gauley Wabash Chic.. Burlington 4 Qninoy. . Kanawha 4 Michigan (Manch'r4Aug.. 78.4m. .] Cheraw 4 Dar., 36.64 m. . Wilson 4 Sum.. 30. 10m.. \ 4.89 m. dec. through re- measurements, etc. . . . J -k>e Wahash statement Merged Ja» 1.1900. Purch. July 1, 1901. Purch. March 1, 1895. Charleston southward Charleston & Northern See Charleston, Sumt. 4 Northern * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. 98 POOR'S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. NAME or OLD COMPANY. TERMINI or COMPLETED ROAD AT THE TIME o* ITS ACQUIRE- MENT. LENGTH IN MILES. NAME or COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Charleston A Savannah. ' larlcst., Cincinnati A Chi. . f Ashley Riv., S.C.. to C. of Ga. Jc..Ga \ Ravenel's to Young's Island, S. C. . . See Manual for 1894 p 152 97.00 5.60 213.18 191.00 150.03 28.22 9.00 57.01 9.00 17.54 10.00 138.00 138.00 42.H) 50.00 21.17 2.63 3.34 28.60 36.64 26.00 11.00 12.00 6.00 351.12 53.64 99.30 11.50 54.94 10.50 29.01 125.14 } Savannah, Florida A West . Ohio River A Charleston Southern Merged July 1.1901. Nov., 1894.* July 10. 1894.* Feb. 15, 1895* See Southern Ry. Amalgamated in 1891. Merged Dec. 21. 1901. Name changed in 1888. Purch. June 1, 1901. Charlotte N C to Augusta, Ga ( hurleston. Sumter A North . i harlottesville A Rapidan. . . See iM'inuul for 1895 p 913 Charleston A Northern Charlottesville to Orange, Va Chatham Jc to Chatham, N. B Southern Canada Eastern Ry Chatham A Lebanon Valley . Chatham, N. Y., to Bennington, Vt. . . Chatham Jc to Chatham, N. B Rutland Chatham RR Chattanooga A Durham Chat A Lookout Mtn. RR. . . Chattanooga, Rome A CoL . . Chat, Rome A Southern See Manual for 1900 p 451 \bandoncd 1899-1900 Carrollton, Ga., to Chattanooga, Tenn. Carrollton, Ga., to Chattanooga, Tenn. Around city of Chattanooga, Tenn. . . . Chatt, Rome A Southern. . . . Ian. 13, 1897.* Purch. June 1, 1901. Dec., 1895.* Aug., 1889.* Oct 17, 1894.* Purch. in 1892. June 1, 18%.* Consol. Julv IS, 1898. Nov. 30, 1892.* Consol. Aug. 3. 1894. Consol. Sept. 7, 1893. Belt Ry. of Chattanooga Ohio A Big Sandy Chatteroi Chautauqua Lake. | Chelsea Beach Cberaw A Chester Ashland to Richardson, Ky Ja., N.Y., to VV.N.Y. A P.RR.Jc.,N.Y. V Jamestown A Lake Erie — Revere Jc. to Saugus Riv. Jc., Mass.. . . Chester to Lancaster, S. C See Manual for 1899 p 396 Atlantic Coast Line of S. C. . . Cheraw A Darlington Tionesta Valley Buffalo A Susquehanna Cheraw A Salisbury Cheraw, S. C., to Wadesboro, N. C Sheffield to Garfield, Pa Hull to Cherry Springs, Pa ( 'herrv Valley Midland to Cherry Vv. Mines, Mo See Manual for 1897, p. 469 Ches..OhioASouthw. RR. . Cheshire Ches., Ohio A Southw. Ry Fitchburg Carolina A Northwestern St. Louis, Memp. A Southeast. Julv 25, 1896.* Consol. Oct. 1, 1890. Feb. 8, 1897. Acquired April 15, 1902. Merged Nov., 1901. Dec. 30, 1901.* Perpetual lease. Consol. April 1, 1890. Reorganized. 1898. Aug. 12, 1890.* Merged May, 1897. Reorg.— see p. 412. Pureh. Sept.. 10, 1895. Consol.. I unel, 1903. Purch. March 11, 1890. Consol. June 7, 1894. Merged May 20,1899. Ashburn. Jc., Mass., to Bel. Falls, Vt. . See M.»nual for 1897. p. 780. St. Mary's June, to St«. Genevieve.Mo. Cheraw to Camden, S. C Kunkletown to Lehigh Gap, Pa Chester A Lenoir. • - < hester.Perryv.,St.G.AF , (part) . . f Chesterfield A Kershaw Chestnut Ridge RR. of Penn. Cheyenne A Burlington Chestnut Ridge Rv Col. Line to Cheyenne, Wyo Cheyenne, Wyo., to Wendover Br across Mo. Riv. at Atchison, Kan. . Chic., Burlington A Quincy. . . Union Pac., Denver A Gulf. . . Atchison A Eastern Bridge . . . Chicago A Erie Chicago A Atchison Bridge. . Chicago A Atlantic Chicago A Calumet Terminal < 'hicago A Canada Southern Chicago A Carbondale Marion, 0., to Hammond, Ind See Manual for 1897 p 83 248.50 44.46 67.60 20.00 "9.00 174.30 80.50 3.63 92.61 42.8G 86.00 47.98 14.84 127.50 78.70 488.50 59.79 121.77 340.22 23.30 76.80 10.00 71.00 30.00 26 40 1,486.61 943.46 20.20 100.08 24.00 54779 Chicago Terminal Transfer — Detroit A Chicago Grosse Isle, Mich , to Fayette. 0 Johnston City to Carbondale, 111 No road built bv this company Jc. C.W.A M. R'R. to Har. St., Chi., 111. Chicago & Texas Chicago, Cin. A Louisville. . . . Chicago A Northern Pacific. . . Chicago A Eastern Illinois. . . . Chic., Burlington & Quincy. . . Chic Lake Shore A East'n ( 'hirago A Cincinnati Chicago A Great Western. . . Chicago A Indiana Coal ( 'hicago A Iowa See Manual for 1887, p. 374 \urora to Forreston, 111 \t Chicago 111 .... Chicago & North,Miehigan. . Chicago A Northern Pacific. . Chicago A Ohio River See Manual for 1899 p 267 . . Merged Nov. 1,1899. Nov. 17, 1896. Consol. Aug., 1893. Merged May 20, 1899. See Manual for 1897 p 82 Chicago Terminal Transfer . . . Peoria. Decatui- & Evansv. . . . Chic., Burlington A Quincy. . . Chic Lake Shore A East' n . . . Sidell. 111., to Olney, 111. Shabbona to Sterling 111 Chicago A Southeast' n (111 ) . Chicago A Southeast' n (Ind.) ( 'hicago A Texas Chicago A West Michigan.. . . Chicago. Burl'ton A Kan. C. . Chic.. Burlington A North'n. < hirago, Decorah A Minn. . . Chic.Div.P..D.AE.Rv.... Chic.. Fairchild A Eau Claire Chic., Ft. Madison A DeaM. . ( 'hie.. Hammond A West. . . . i hicago, Harlem A Batavia . Chicago. Iowa A Dakota Chic., Kansas A Nebraska. . Chicago. Kansas A Western . Chic.. Kansas City A Texas. . Chicago. Padiieah A Memp. . f •hiengo. Rockford A North. . Chicago. St Louis AN. CM.. Chic.. St. Louis A Padncah . Chirago St. I-ouis A Pitteb. . ( hirago, St. Paul A K. City. . Chicago. Santa Fe A Cal . . . . Chicago. Wia. A Minn At Chicago, III Muncie to Brazil Ind Feb. 19. 1903.* Acquired Oct. 15. 1902. Merged Nov. 1. 1899. Purch. Jan. 1, 1901. Absorbed May 20, 1899. Proprietary road. Purch. Dec. 16, 1898. Reorg. Jan. 1, 1897. Merged Jan. 1,1901. Consol. .Ian. 1, 1898. Purch. March 11. 1890. Purchased Jan., 1902. April. 1891.* Merjred Jan. 1.1890. Feb. 4. 1S93.* Purch. Feb. 23. 1897. Merged Mav 20, 1899. Tune 13. '82 (per. lease). See Manual for 1898. Con«ol. Oct. 1,1890. Reorganization. 1892. Merged June 1, 1900. Marecd. Tuly 13. 1S99. F.'h. 10, 1SP.7.* ConsoL April 1, 1890. See Manual for 1902, p. 370 See Manual for 1899, p. 267 f Viele to Bloomfield Jc , la Pere Marquctte f Chic., Burlington A Quincy Chic., Burlington A Quincy. . . Burl., Cedar Rapids A No. ... Ind.. Decatur A Western Fail-child A Northeastern. . . . Chic., Burlington A Quincy. . . Chicago Junction Ry Chicago A Northern Pacific. . . Chicago A Northwestern Chic., Rock Island A Pac Atchison. Topeka A S. Fe. . . . Kansas City A Atlantic Chicago A Eastern Illinois. .. . Chic., Burlington A Quincy. . . ( Moulton, la., to Carrollton, Mo See Manual for 1901. p. 214 Postville Junction to Decorah, la Sidell to West Liberty, 111 See Manual for 1896, p. 158 Fort Madison to Ottumwa, la Whiting, Ind., to La Grange, 111 Eldora June to Alden, la See Manual for 1892, p. 155 See Manual for 1890. p. 920 North Kansas City to Smithville, Mo. . Altamont to Marion. 111., and bra Flagg Centre to Rockford. Ill Ea.«t Cairo. Kv.. to New Orleans, La. .. Marion to Brooklyn. Ill See Manual for 1890, p. 86f. See Manual for 1893. p. 168 53.64 580.52 815.67 51 -5.27 114.67 17.34 4.09 Illinois Central Pittsb.. Cin., Chic. A St. L. . . . Chicago A Gt. Western Atchison. Topeka A S. Fe. . . . Wisconsin Central See Manual for 1890. p. 921 f Sehleisineerville, Wis.. to Central ) Oiickamauga A Durham. . . . ChiroM Canon Chirkamauea to Durham, Ga. . . Chattanooga A Durham Union Pac., Denver A Gulf. . . Cbicoea to Forbes Col •Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given, POORS MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 99 N A ME OF OLD COMPANY. TERMINI OF COMPLETED ROAD AT THE TIME OF ITS ACQUIRE- MENT. LENGTH IN MILES. NAME OF COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIBT- INO COMPANY. Chillicothe * Chariton RR. . Choctaw Coal & Ry Frederick to pt. 4 m. w. of Albia, la. . . 1 So. McAlister to Wister Jet.. I. T. . . 14.97 67.00 31.02 3.90 103.60 34.00 112.00 15.00 '"i.ioo 24.47 18.50 48.05 Chic., Burlington & Quincy. . . j-Choctaw, Oklah'a A Gulf. . . {- Choctaw, Oklah'a A Gulf. . . Choctaw, Okla. A Gulf Merged Jan. 1, 1901. Sept. 8, 1894.* Purch. May 3. 1902. Purch. in 1902. July 1, 1891.* Consol.Junel, 1903. Consoi. Oct.' 1,' 1890.' April 15. 1891.* Absorbed in 1890. •< Fort Reno to Oklahoma City, 0. T. . (Geary to Alva.O.T Choctaw, Okla. & Texas Cinrinnati A Green River. . . •> :ti A- inil. Western . . Cincinnati & Ky. Southern. . Cincinnati A Richmond Cincinnati it Southeastern . . Cincinnati & Springfield .... Cincinnati. Atl. & Col Cincin. Connecting Belt Cincinnati. Day. & Chicago . Cincinnati, Day. A Ironton. . Cincinnati. Georg. & Ports . . Cin.. Hani. & Davton RR. . . Cin., Hock. Vy. & Hunt Cin.. IndpLs., St. L. &Chic... 1 Ingersoll, 0. T., to Anthony, Kan . . Sayre, 0. T., to Amarillo, Tex King's Mountain to Yosemite, Ky . . . . No road built by this company King's Mountain to Yosemite, Ky . . . . Cincinnati A Ky. Southern . . . Chicago, Cin. A Louisville. . . . Abandoned. 1895-6 Pittsb., Cin., Chic. A St. L Coving.. Flemings!). A Ash. . . Cleve., Cin., Chic. A St. L .... Abandoned Johnson to Hillsboro, Ky Dayton to Ludlow Grove, 0 Termini not reported Idlewild to Ivorydale. 0 Dayton to Delphos, 0 3.79 98.27 191.50 4200 59.93 11.30 177.47 323.70 56.30 6.00 37.00 16840 154.00 15.51 61.15 164.4 39.2 280.80 100 19.00 21.50 7.10 Cin., Portsmouth A Va Cin., Hamilton A Dayton. . . . Cin., Hamilton A Dayton. . . . SeeSt Ry. Dept Merged April 9, 1901. Consoi. Julv 8, 1895. Consoi. July 8, 1895. Cincinnati to Georgetown, 0 Cin.. Kamil'n A Dayton Ry . . Marietta, Hocking A Nor Cleve.. Cin., Chic. A St. L .... \ Cincinnati Northern Consoi. July 8, i895. Consoi. June 27, 1889. June, 1897.* June. 1897.* Purchased in 1890. Consoi. May 19, 1902. Merged April 1, 1890. Consoi. June 1,1903. Purch. Nov. 1, 1890. Purchased in 1890. Purch. Nov. 1, 1890. Oct., 1889.* Dept.ofSt.Rys. May, 1891* Cin. ( E. J.) to a point in Cler. Co., 0. . Sec Manual for 1889, p. 302 See Manual for 1897. p 87 Cin.. Lafayette & Chicago. . Cincinnati Northwestern. . .. Cin.. Richmond enis^n 4 Wa«liita Vv Denver A Boulder Valley . . . Denver A Middle Park Denver A Rio Grande West. . Denver A Santa Fe See Manual for 1902, p. 470 Missouri, Kansas A Texas. . . . Union Pacific Union Pac., Denver A Gulf. . . [• Rio Grande Western See page 494. April 1, 1898. Consol. April 1, 1890. Consol. June, 1889. Jan. 19, 1900. Consol. Nov. 19, 1898. Brighton to Boulder City, Col Ralston to Glencoe. Col J Col. State Line to Ogden, Utah. . . ) i Brs. (See Manual for 1889, p. 887) ) South Pueblo to Denver CoL Atchison, Topeka A S. Fe. . . . Colorado A Southern Ry Denver, Leadv. A Gunnison. l)enver, Longmont A Noland Denv., Marshall A Boulder. . Denver RR. A Land Co Denv. Resort Rv. A Tel. Co. . Denver So. Park 4 Hill Top . Denver So. Park A Pacific. . . See Manual for 1898, p. 854. See Manual for 1899. p. 842 ( Argo Jet. to Boulder. CoL 26.81 3.23 16.90 14.00 11.32 151.20 173.32 • Union Pac., Denv. A Gulf.. . Consol. April 1, 1890. Reorg. in 1888. Merged Dec 20 1898 i Louisville to Lafavette Denver to Scranton, Col Fnirplav to Levirk. Col No longer in existence Colorado A Southern Ry !• Denv., Leadv. A Gunnison . \ Denver to Leadville, Col Purch. Aug. 29, 1889. "i Bra. (See Manual for 1889) "Acquired by purchase at foreclosure or reorganized after foreclosure sale OB date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 101 N on. OK i >I.D COMPANY TERMINI OF COMPLETED ROAD AT THE TIME OP ITS ACQUIRE MENT. LENGTH IN MILES. NAME OF COMPANY BY WHICH ACQUIRED, OH TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Denver. Texas & Ft. Worth . Denver, Texas* Gulf Denver, Utah 4 Pacific De 1'ue, Ladd & Eastern. . . . Des Arc & Northern See Manual for 1889, p. 495 170.03 138.% 43.49 3.50 24.63 5.00 35.02 41.61 114.00 66.80 150.00 25.56 238.00 174.95 451.00 Union Pac., Denver 4 Gulf. . . Union Pac., Denver 4 Gulf. . . Chic., Burlington 4 Quincy. . . Chicago 4 Northwestern Searcy 4 Des \rc Consol. April 1, 1890. Consol. April 1, 1890. Purcii. July V. 1902. Consol. July 1, 1899. Denver to Pueblo, Col., and brs Denver, Col., to Lyons, Col Seatonville to Ladd, 111, Searcy to Des Arc, Ark Dwhler&WaybackCity IX>s Moines & Knoxville Ry IVs Moines & Northern In Henry Co., Ohio Des Moines to Knoxville, la Private road; abandoned Chic., Burlington 4 Quincy. . . Des Moines North 4 West. . . . Des Moines North 4 West Wabash Des Moines North 4 West. . . . Lake Shore 4 Mich. So Detroit Southern RR Merged Jan. 1, 1901. Consol. Aug., 1891. Consol. Aug.. 1891. Dec! 18, 1894.* ' Proprietary road. Reorg.May25, 1901. Nov. 8, 1894.* Consol. Nov. 1, 1899. Nov. 10, 18%.* Des Moines to Boone la Des Moines & Northwest' n. . DCS Moines & St. Louis IV- Moines. No. & West. RR Detroit it Chicago Detroit 4 Lima Northern. . .. Des Moines4o Fonda, la See Manual for 1898, p. 810. See Manual for 1897, p. 242 Grosvenor to Fayette See Manual for 1900, p. 276 Detn.it, Bay Citv & Alpena. . Detroit, Or. Rapids & West'n Detroit, Lansing & North Diamond Valley Alger to Alpena, Mich., and brs See Manual for 1899, p. 827 Detroit 4 Mackinac Pere Marquette See Manual for 1897, p. 903 221.57 12.25 6.25 44.51 26.40 8.00 Detroit, Gr. Rapids 4 West. . . Abandoned in 1892-3 Dixon & Quincv. Arpee to Keithsburg 111 . f Chic., Burlington & Quincy Abandoned Merged May 20, 1893. Dixon, Peoria & Hannibal. . . Dodse City, Mont. & Trin.. . . Dooly Southern Douglas & McDonald Buda to Elmwood, 111 . . Dodge City to Montezuma, Kan Richwood to Pinia, Ga Abandoned, 1901-02 Abandoned Dover & Statesboro Dover to Statesboro Ga 10.00 29.00 47.92 205.90 100.00 22.50 4947 Purch. Jan. 1, 1901. Purchased in 1892. Purch. Nov. 23, 1887. July 25, 1896.* July 25, 1896.* Merged Sept. 1, 18%. Merged May 1. 1899. Absorbed in June, 1901. Merged June 30, 1899. Purchased in 1898. See Manual for 1901 . Dover & Winnipiseogee Duck River Valley Duluth & Manitoba Duluth it Winnipeg Dover to Alton Bav, N. H Boston 4 Maine Columbia to Fayetteville, Tenn See Manual for 1890, p. 702 Vew Duluth to Deer River, Minn Fertile to Crookston Minn Nash., Chatt, 4 St. Louis Northern Pacific Duluth, Superior 4 AVest Northern Pacific ... . Duluth, Crookston & North . Duluth, Miss. R. 4 Northern. Duluth, R'd Wing & South'n Mississ. River to Dewey Lake Minn Eastern Rv of Minn Red Wing to Zumbrota, Minn., 4 brs . Thomson, Minn., to W.Superior, Wis. . New Duluth to Deer River, Minn L's.Oi) 17.75 100.00 Wis., Minn. 4 Pacific St Paul 4 Duluth Duluth, Superior & West'n . . Duluth Superior Belt Ry. Eastern Ry. of Minn Duluth Transfer Rv Duluth Transfer Duluth to New Duluth & branch Durham to Henderson, N. C Cartersville, Ga., to Pell City, Ala. . . . Cartersville, Ga., to Pell City, Ala !n Buffalo, N. Y Irlando to Oviedo, Fla HcKinney, Tex., to Jefferson, Tex. . . . 'berville to Noyan, Que In Charleston S C 14.00 41.40 116.17 116.70 0.10 15.67 155.11 22.80 3.00 ,246.05 Northern Pacific Seaboard Air Line Purch. May 26, 1902. Merged Nov.. 1901. Mav29, 1893.* Consol. 1903. Durham 4 Northern East k West of Alabama. . . . West. . . Birmingham 4 Atl. Air Line. . Abandoned 1892-3 Hist Buffalo Terminal K::-.! Florida & Atlantic Ka>t Line & Red River East Richelieu Valley Florida Cen. 4 Peninsular. . . . Sherman, Shreveport 4 So — Juebec Southern Purchased 1894. Feb. 28, 1893. Purch. Mav, 1900. July 14, 1903.* July 7, 1894.* Consol. May 9, 1890. Merged June 1,1899. East Tenn., Va. & Ga See Manual for 1895, p 776 Southern Eastern Eastern RR. in N H Boston, Mass., to New Hamp. Line. . . 3ortsmouth to Seabrook, N. H tew Glasgow to Mulgrave Milledgeville to Eatonton, Ga 41.45 16.08 80.00 21.00 2.74 11.00 30.19 2.50 "94. io 8.00 50.60 2.00 1.69 109.60 11.81 1.50 10.0S 40.00 "b'i? 1.50 12.50 71.50 450 Eastern Extension (Can. ). . . Eatonton Branch Purchased. Purch. Jan. 1, 1897. Merged July 1.1892. Merged Aug. 6. 1891. Merged Dec. 31. 1899. Merged Nov., 1895. Consol. Aug. 21, 1891. Sept. 7, 1901.* Purch. Sept. 6, 1893. See Southern Ry. Name chgd. Sept. 26. 1891. Proprietary road. Consol. July 1,1902. Proprietary road. Central of Georgia Eau Claire Chic., St. P., Minn. 4 Omaha . Cambria 4 Clearfield Ebensburg 4 Cresson Echo & Park Citv Scho to Park City, Utah, and br Srie Breaker to Edger. Breaker, Pa. . . Jnion Pacific Me -ichigh Valley Terminal Edgerton Branch Edgewater Eel River Envpt Colon to Egvpt N C .... Raleigh 4 Western Elberton Air Line Toccoa to Dberton, Ga Jreat Isl. to N. J. Jockey Club.'. '. '. . '. '. Southern Jadison, Illin. 4 St. Louis. . . . >ntral of New Jersey Electric City & Illinois Elizabeth Extension Elizabeth, Lex. & Big Sandy. Elkh.irt A Western . . illkhart to Mishawha, Ind ^ake Shore 4 Mich. South'n. . Elk Hill Coal A Iron El I'M*) Northern Empire & Dublin 3 Paso, Texas, to end of track 31 Paso 4 Northeastern Purchased Sept., 1897. Oct. 8, 1892.* Consol. Mav 26, 1897. Consol. Jan. 1. 1902. Merged Feb. 26. 189(1. | Oct., 1891 (See Manual ) for 1895). Purch. Aug. 1. 1898. Merged Nov. 27. 1895. Consolidated 1895. Purch. Feb. 1. 1900. Name chgd. Jan. 6, 1890. May 27. 1897.* Name chgd. Dec. 1.1897. Emporium & Mt. Jewett Engelside 'Jo road built by this company. n Philadelphia, Pa At. Jewett, Clerm. 4 No Connecting Belvidere 4 Delaware Enterprise. . Erie 4 Genesee Valley Huron Dansvllle to Mt. Morris, N. Y. Rondeau to Samia Ont jike Erie 4 Detroit River — Erie International Escanaba, Frankf 1 4 South. Eureka Springs Jeecher to Frankfort, Mich Seligman, Mo., to Eureka Sp'gs, Ark. . | Pregnalls to Sumter, S. C 23.54 18.50 [- 58.00 101.40 101.04 Ann Arbor St. Louis 4 North. Ark W. Chart., Sumter 4 Nor 3vansville 4 Richmond Ry . . Southern Indiana Evansville Te Georget.. Brer-k. A Leadv. . . Georgia A Alabama \ Ithaca, N. Y.. to Cayuga, N. Y No road built bv this company See Manual for 1899, p. 156 Geneva A Savre Georgetown to Gravmont. Col See Manual for 1902 p 763 1". P.. Denver A Gulf. Georgia, Carolina A Nor .... Georgia Midland A Gulf. .... Monroe, N. C., to Atlanta. Ga Columbus to McDonough, Ga See Manual for 1895 p 776 Seaboard Air Line T-corcia Midland Southern Georeia Pine Gladeville. Glendon A Gulf. ...; Bainbridge to Arlington, Ga Rnmsev in Wise, Va Gulf to Glendon, N. C. Southern Rv. in Miss Georgia. Fla. A Alabama ^'i-gmiti A Kentucky * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 103 N A M K OF OLD COMPANY. TERMINI OF COMPLETED ROAD AT THEe TIME OF ITS ACQUIRE- MENT. " LENGTH IN MILES. NAME OF COMPANY BY WHICH ACQUIRED, OP TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY I-JCIST- INQ COMPANY. i;i>r, Haven 3.48 3.60 2.05 5.09 25.18 42.00 24.00 229.59 553.17 28.00 55.54 1.00 28.80 24.20 2.00 146.00 43.73 Irondequoit (electric) < ;ii n Jran.L.L.A Deep Water Glenwood Part of Loup Cr. Branch Absorbed Oct 26,1901. In Pittsburgh, Pa Baltimore A Ohio Golden, Boulder & Caribou. . Goodyear, Neills. A North. . . :i & Belington Boulder, Col., to Marshall C"l B'ks. . . . Goodyear to Saddle Mt. A brs Grafton to Belington, W. Va Abandoned Abandoned in 1894. Baltimore A Ohio Purchased in 1892. Reorg. Aug. 1,1892.* Merged Dec. 31, 1897. Purch. 1900-01. Dec., 1896.* Now classed as side track. Purch. July 1, 1893. Purch. July 1. 1893. Consul, in 1893. Merged Jan. 1,1901. Grafton & Greenbrier Grafton to Philippi, W. Va Grand Island & No. Wyo. . . . Grand Island & Wyo. Cent. .. Grand Rapids, Belding A Sag. Grand Rapids, Lans. & Det. . Grand Rap. Transfer & Jet.. . Grand Tower & Cape Girar.. . Grand Tover & Carbondale. . Gr. Tk, George1 n B. & L. E. . Grant City * Southern See Manual for 1898, p. 382 j- Chic., Burlington A Quincy Pere Marquette See Manual for 1898, p. 382 Belding to Freeport, Mich See Manual for 1896. p. 965 In city of Grand Rapids, Mich ........ Grand Tower to East Cape Girardeau. , Carbnndale to Grand Tower, 111 i Murphvsboro' to Garrisons' Sh., 111. 1 Port Dover, Ont., to Wiarton, Ont. . "1 Brs. (See Manual for 1893, p. 1112) Detroit, Grand Rapids A W. .. Pere Marquette Chicago A Texas t Chicago A Texas j- Grand Trunk of Canada Chic., Burlington A Quincv. . . Abandoned 1895-96 Granite Hill 0.50 2.00 5.00 13.50 27.80 fi.OO 7.00 134.37 17.34 62.50 6.00 218.80 10.00 10.00 18.40 35.00 3.80 3.80 1.14 37.67 11.87 9.00 6.25 ..2500 Granite Mo' tain 4 Marble I See Manual for 1902, p. 610 Austin A Northwestern See Manual for 1902. Merged June 30, 1899. Oct., 1891. Proprietary road. Purch. April 16, 1894. Purch. in 1902. Oct. 26, 1896.* Consol. April 1, 1890. June 1, 18%.* June 1. 1896.* June 6, 1892.* Name changed. Merged Oct. 26. 1901. Purch. June. 1895. Reorg. June 9, 1892. Oantsburg, Rush City A I St ('laid ( j Rush City, Minn., to St. Croix 1 1 River Wis J St. Paul A Duluth Grass Like & Manistee Riv. . Gravl'g,TwinLakeANorthe. . Manistee River to Forest Ter. A br — Abandoned; track taken up in Great Eastern 1 Yamaska to River St. Francis, Que.. >• All. A Lake Superior Montana A Great Northern. . . Salt Lake A Ogden Great Falls A Canada ' !rt. Salt Lake & Hot Sp'gs. . Greek'v. Salt Lake & Pac. . . . Green Bav. Stev. Pt, & No . . Green Bay, Win. A St. Paid . Green Cove A Midland Great Falls, Mont., to Internat. Line. . See Manual for 1896, p. 342 Greeley to Stout, Col., A brs Plover to Stevens Point, Wis See Manual for 1896, p. 129 Green Cove Springs to Sharon, Fla. . . . Green Cove Springs to Sharon, Fla. . . . U. P.. Denver A Gulf Green Bay A Western Green Bav A Western Southwestern (Fla. ) Green Cove A Midland Gr'n Cove Sp'gs & Melrose. . . Greenbrier A New River. . . . Greenfield & Northern Greenlick Narrow Gauge. . . . Greenlick Greenfield to Aurora Mo Kansas City, Ft Scott AM... Greenlick. Greenlick Jet. to Mt. Vernon Mines. . . Greenlick Jet. to Mt. Vernon Mines. . . F'agle Lake to Summit Green Mt., Me . Green Pond to Ehrhardts, S C Abandoned in 1893 Gr'n Pd., Walterboro A B'vle Green River A Northern. . . . Greenwood, Anderson A W. . Greenwood Ry A Coal. Savannah, Fla. A Western . . . Northern Pacific Seivern A Knoxville Abandoned in 1892-93 Merged Sept. 2; 1901. Merged Sept 1,1890. Dec. 9. 1897.* Palmer to Kanglev Jet., Wash Seivern to Alathea, S. C Grouse Creek Kansas A Col. Pacific Consol. Dec. 27, 1890. Name changed. Jan. 14, 1898.* Groveton, Kickapoo A Gulf . Gulf 8.00 12.00 11.00 37.00 14.00 Kickapoo A Gulf. Wakita to Medford Okla Peck City to Mineral Wells, Tex / Ripley to Pontotoc, Miss A band. A dismant. 1901-02 JGulf AChicago Gulf & Ship Island Gulf Red Cedar Co Consol. Aug. 1, 1889. Abandoned 1901-02 Outline & Western Hagerstown & State Line. . . Seward, 0. T., to Cashion ) Hagerstown North Jet., Md., to 1 1 Penn State Line I 10.60 5.30 7.00 30.50 289.22 27.65 29.50 38.80 40.60 46.20 10.00 15.79 15.87 20.58 12.58 18.1fi 21.60 16.73 ' ' l'.3i 19.00 9.24 Atch., Topeka A Santa Fe. . . . Washington A Franklin. Operations suspended 1901-'2. Purch. Aug. 9, 1900. June 10, 1899. Kingston, Mo., to Tom Creek Mines . . . Hamilton to Tarboro, N. C., A brs See Manual for 1901 p 216 Hamilton RR. & Lumber. . .. Hannibal A St. Joseph Chic., Burlington A Quincy . . Atehison, Top. A Santa Fe. . . York, Hanover A Frederick. .. Harriman A Northeastern Harrisburg A Shippensburg. .. Phil Harrisb A Pittsb Purch. Jan. 1,1901. Absorbed Jan. 19, 1900. Consol. Mar. 1, 1897. Dec. 4, 1895.* Julv2. 1890.* Consol. July 24, 1890. Consol. Julv 24. 1890. Merged in 1892. Purch. Feb. 27. 1895. Merged Jan. 1.1901. Dwned branch. Merged Sept 1.1890. Purchased 1883. Julv 25. 1896.* Reonr Anril 12. 1891. Consol. J-ine 30. 1892. Consol. June 22. 1892. Hanover Hanover & York York. Pa., to Maryland State Line See Manual for 1895, p. 219 Bowmansdale to Shippensb. and brs. . Harrisburg to Shippensburg, Pa No road built by this company Hartford to Fenwick, Ct Floyd's to Ilartsville, S. C Hastings to Carson, la Lacka waxen to Hawley, Pa Pricklv Pear to Wickes Mont Harriman Coal & Iron.. ." Harrisburg A Potomac Harrisburg A Shippensb. . . . Harrisburg Terminal Phil., Harrisb. A PitLa N. Y., N. H. A Hartford Cheraw A Darlh.gton Chic., Burlington A Quincy. . . Erie A Wyoming Valley Northern Pacific. Hartford & Conn. Vy Hartaville [listings & Avoca. Hawley Branch Helena A Jefferson Co Helena A Northern Helena A Red Mountain .... Henderson ville A Brevard. . . Hcrk.. Newport A Poland. . . Herk..\ewp. A Poland Ext . Hibernin Underground. . . Hillsboro RR Hobart A Manistee River Clough Jet. to Marysville, Mont Helena to Rimini. Mont Hendersonville to Rrevard, N. C Herkimer to Poland, N. Y Voro!idb"ilt bvth sro-npnnv HiberniaRR. toHiberniaMine, N. J. . Hillsboro to Sardinia, O Hobart to Manistee River, Mich Nor. Pacific A Montana. Northern Pacific Transvlvania Mohawk A Malone. Mohawk A Malone Norfolk A Western Acquired July 1.1902. * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. 104 POOR'S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. NAME OF OLD COMPANY. TERMINI or COMPLETED ROAD AT THE TIME OF ITS ACQUIRE- MENT. Z h 5 J Sa NAME OP COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Stamford to Hobart, N Y 3.52 15.00 3.00 22.18 1800 13.00 12.00 Ulster A Delaware Consol. Jan. 1, 1902. Purch. June, 1896. HollvCVsRR Hopkins. Palmer to Log Wavs, W. Va Gillespie North f M:ilvern to Hot Springs, Ark Holly River Abandoned in 1891 | Choctaw, Okla. A Gulf. .... St. Louis A Gulf Purch.May3.1902. Consol. May 1, 1902. Hourk's Missouri A Ark. Houghton Lk. * Bartow Cy . Houston Belt * Mae. Park. . HUM.-.. Cent Ark. A Nor. . ... Hoxie, Porahontas A Nor . . . Hudson Susp Br.AN.E.RR. Humeston A Shenandoah.. . . Hunting. Tell City A Can'l. . HunUville Belt L. A M. S. . .. Hutchinson A Southern. Hutchinson, Okla. A Gulf.. . . \ Benton to Butterfield, Ark Abandoned 4.07 189.85 15.30 ' 95.45 24.00 8.50 130.00 20.00 Abandoned in 1897 MoGehee Jet. to t.' A P. Ry., La Roxie to Pocahontas, Ark See Manual for 1892. p 276 Van Wert to Shenandoah, la st. L., Iron Mountain A So. St. L., Memph. A Southeast. .. Hudson Highland Br. A Ry . . Uhic.. Burlington A Quincy. . . Louisv., Ev'sv. A St. L. Con.. . Road abandoned Atchison, Top. A Santa Fe. . .. Hutchinson A Southern Owned bvStL. I.M .', Purch. Feb. 1, 1902. Reorganized 1893. Merged Jan. 1.1901. Consol. May 21. 1889. Absorbed Dec. 20. 1899. Consol. Oct.. 1889. Acquired Julv 1. 1902. Consol. Aug. 1, 1889. Consol. May 21, 1889. Merged May 20. 1899. Absorbed in 1903. April 5, 1897. Purch. Dec. 27, 1899. Reorg. Feb. 6. 1890. Reorg. Jan., 1899. Consol. July 15, 1895. May 10, 1894.* Consol. June 27. 1889. Reorg. Dec. 31. 1894. Merged See Gen. Inticx. Consol. Dec. 27, 1890. Consol. 1888. Purch. April 6, 1901. Hutchinson; Kan., to Biackweil! 0. T.. ''ee Manual for 1894 p 222 See page 233 Norfolk A Western Idaho Central 20.66 19.00 65.35 58.76 Oregon Sht. Line A Utah No. . Louisv., Ev'sv. A St. L. Con . . > Chic., Burlington A Quincy. Southern Pacific 111. A St. Louis RR. A Coal. .. Illinois Grand Trunk. Illinois Vy. A Northern Belleville to Dvke, 111., and branch. . . Mendota to E. Clinton 111 Streator to Walnut 111 Indian Springs A Flovilla — Indiana Block Coal 3.00 12.62 90.00 40.00 Flovilla A Indian Springs. . . . Chicago A Eastern Illinois 3t. Louis, Ind. A Eastern 3t. Jos.. So. Bend A Southern . fnd., Decatur A Western. ... f Ind., Decatur A West ) /Otter Creek Junction to Terre) 1 Haute Ind j Indiana A Illinois Southern. . Indiana A Lake Michigan. . . Indiana, Decatur A West . . . Indianapolis Decatur A W. . Indianapolis A St. Louis. . . . Ingalls, White Rap. A Nor . . Switz Cit v,' Ind.. to Effingham, 111. . . . St. Joseph. Mich.,to South Bend, Ind . Ill State Line to Decatur 111 Indianapolis, Ind.. to Decatur, 111. . . . Indianapolis to Terre Haute, Ind MexicoCity to Kilo. 110, Mex Termini not reported 152.51 72.00 25.00 77.00 53.26 83.69 7.00 34.00 1.50 Cleve., Cin., Chic. A St. L .... Wisconsin A Michigan Mexican Great Eastern Kansas A Col. Pacific Dubuque A Sioux City Colfax Northern Iowa Falls A Sioux City. .... Iowa Northern Iron Range A Huron Bay. . . Iowa Falls to Sioux City, la Colfax to Valeria, la Abandoned Ithaca, Auburn A Western.. . Jackson A Cincinnati f Geneva to Frceville. N. Y Abandoned in 1890. Aug. 23,1889.* Purch. Aug. 1897. Acquired Sept., 1899. Absorbed Julv 1, 1899. July 1,1896.* Sept. 2. 1895.* Consol. 1893. Reorg. Sept 26, 1895. Mavl 1.1890.* Acq. Apr. 22. 1899. Consol. 1893. Addison Junction to Jackson, Mich.. . . Jacksonville to Pablo Beach, Fla See Manual for 1900 p 378 17.65 16.25 129.00 112.00 28.00 37.03 344.20 112.30 41.00 6.50 7.75 63.75 38.41 27.31 102.59 18.03 6.00 185.80 7.40 Cincinnati Northern Florida Enst Coast Savannah, Fla. A Western . . . Jacksonville A St Louis Jacksonville A Atlantic .... Jackson v. A St. John's Riv . . Jackson v., L'ville A St.Louis Jacksonv., Mayp. A Pablo. . . Jack.. St Aug. A HaL Riv. .. Jacksonv., St. Aug. A Ind. R. .Jacksonville Southeastern. . . Jack.. Tampa A Key West . . Jacques Cartier Union Jacksonville to Centralia. Ill See Manual for 1896 p 214 So. Jacksonville to St. Augustine, Fla. See Manual for 1895 p 193 .... Jack., St. Aug. A Ind. Riv Jacksonv., Louisv. A St. L ... Florida East Coast Grand Trunk Ry. of Can Abandoned Aug 20 1893 . . Enterprise Jet. to Titusville, Fla Lachine Bk.(G.T.Ry. to Jc, C.P.Ry.). James River Valley Jamestown A Chautanqua . . Jamestown A Lake Erie. Jamestown A Northern Jamest'n A North. Kxtens. . . Jamesville A Washington.. . . Jefferson ville. Mad. A Ind. . . Jellico. Bird Eye A No Jamestown to Oakes, N. D See Manual for 1901, p. 178 See Manual for 1898. p. 72. Jamestown to Minne'n, N. D., A br. . . Minnp\vaukan to leeds N. D July 25, 1896.* Reorg. Sept. 25, 1900. Dec. 30, 1898.* Jamest'n, Chaut'q. A L. Erie . Jamestown A Chautauqua . . . Northern Pacific Merged Sept. 1, 1896. Washington to Cherry Mills, N. C. f Louisv., Ky., to Indiaaap.. Ind., ) 1 and brs. (See Manual for 1890). j Halsey. Ky to Jellico Tenn Pitts., Cin., Chic. A St. L ConsolrOct 1. 1S90. Acquired 1901-1902 Consol. Aug. 28. 1891. Consol. Aug. 28. 1891. Purch. Nov. 1, 1892. Leased: pract'lycon. Merged Mav 20, 1899. Merged June 5, 1895. l>roprietarv road. Merged Feb. 25, 1899. Merged June 1, 1899. Jersey City, New A West. . . . Jersey Cit v TenninaL No road built by this company Lehish Valley Terminal Maccan Sta. to Joggins Mine, N. B. . . At Joliet. Ill Sheridan to Paw Paw 111 12.00 25.61 19.54 1.25 4.59 151.53 88.01 7.48 7.56 9.W 10 on 134.00 14. 1C Can. Coals A Ry. Co. (Ltd. ).. . Chic., Lake Shore A East'n . . . Chic., Burlington A Quincy. . . Erie A Wyoming Valley Missouri Pacific Union Pacific Joliet A Blue Island Joliet. Rockford A Northern. Jones Lake Lake Junction to Lake Ariel, Pa. .... J. A W. Jet. to Grand Falls, Mo .lulesburg to La Salle, CoL See Manual for 1899. p. 658 JiilesburgBr.(U. P., D.AG.) June. City A Ft. Kearney. . . Jupiter A Lake Worth Ka:it«-i>k ill Termini not reported Kaaterskill Jet. to Kaatewkill, N. Y. . j Fairfield to Acme, W Va Abandoned 1895-6 Ulster A Delaware Consol. Jan. 1, 1902. Purchased 1901-02. March 4. 1890.* Proprietary road. Kanawha A Ohio Kanopolis A Kansas Central i Steven's Mines to Coalbiire, W. Va. Corning, 0.. to Maiden. W. Va Geneseo to Kanopolis, Kan. . . Kanawha A Michigan Missouri Pacific * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 105 NAME OF OLD COMPANY. TERMINI OP COMPLETED ROAD AT THE TIME OF ITS ACQUIRE- MENT. LENGTH IN MILES. NAME OP COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Kansas & Colorado Pacific . . Proprietary lines of Mo. Pacific f Salina, Kan., to Ness Co. Line 126.00 IK * (' 1 P 'fi Consol. Dec. 27, 1890. Absorbed Dec. 20. 1899. Kansas & Southeastern Kansas rt Scott to Topeka, Kan Cale to Blackwell, 0. T See Manual for 1900. p. 460 ?ale Jet to Anthony, Kan Kearney Jet. to Callaway, Neb St Louis A San Francisco .... Atchison, Top. A Santa Fe. . .. Atchis-in, Topeka A Santa Fe . No longer in existence Keithsburg Bridge Co Kendall & Eldred Tracks at Mississippi River Purchased July, 1901. Operations suspended Kennett & Osceola Kennett to Arbyrd, Mo See Manual for 1902, page 673 Louisv., Ky., to N. Albany, Ind., & br. St. Louis A Gulf Connecting Ky. A Indiana Bridge A RR. . Consol' Mav i. 1902. Merged Jan. 1.1902. Reorg Aug. 30, 1900. Consol. Julv 1.1902. Purchased Feb. 1, 1891. Jan. 4, 1897.* March. 1894.*'" Purch. Dec 3, 1901. Purch. June 17, 1889. Absorbed Jan. 1.1901. Purch. Jan. 1, 1901. Consol. June 8, 1893. Kentucky & Indiana Br. Co . Kentucky & South Atlantic- Kentucky Central See Manual for 1901, p. 418 Louisville A Nashville Frankfort A Cincinnati Kentucky Northern Kentucky Union Kentucky Western Keokuk & Northwestern. . . . Keokuk & St Paul Rodburn to Pine Springs, Ky Lexington to Jackson, Ky Dixon to Blackford, Ky Abandoned in 1900 Lexington A Eastern St. L., Keokuk, A Northw Chic., Burlington A Quincy. . . >• Chic., Burlington A Quincy [• Ketner, St.Mary's A Shaw. . Keokuk & Western j Alexandria, Mo., to Van Wert, la. . . 1 Des Moines, la., to Caiwville, Mo. . . \ Ketner Jet. to Swamp Creek, Pa — Ketner, Elbon & Shawmut.. . Ketner, S. M. A Shawmut. . . Kettle River Keyport Keystone Coal Co.'s RR Kickapoo Vy. & Northern. . KiMare A Linden i Ketner Jet. to Wrights, Pa 1 Glen Hazel Jet. to Water's Camp. . . Termini not reported Termini not reported Termini not reported La Farge to Wauzeka, Wis Kildare to Linden, Tex Abandoned 1891-92 ' Freeh'd A Atlantic Highl'ds.. . Abandoned. 1894-95 Wisconsin Western Abandoned in 1900 Abandoned 1896 97 Consol. Jan. 1, 1890. Purch.' Nov.'24.'i899. ' Kilkenny Lumber Co RR Kinderhook A Hudson Kimlcrhook & Hudson Kingman, Pratt & Western. Kingston & Adelphi See Manual for 1899, p. 225 Hudson to Niverville, N. Y Kingman, Kan., to W. Line.Kiowa Co Kingston to Adelphi, 0 Laurel to Bay Springs, Miss Albany A Huds. Ry. A Pow. . 1 Kinderhook A Hudson I Wichita A Western Marietta, Hock. A North Mobile, Jackson A Kansas Cy Tennessee Central Reorg. Sept 13. 1899. April 11.1891!.* Cuns.d. Jan. 1, 18S9. Purch. May 17, 1893. Purchased in 1902 Consol. Apr. 15. 1902. Consol. Jan. 1, 1897. Kingston A Cent Mississippi Kingston Bridge A Ter. Co. . Kingston, Nap. A Western. . J Tweed to Napanee, Ont 49.4; 1137 I Yarker to Sydenham, Ont * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. 106 HOOK'S MANUAL OF RAILIIOADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. NAME or OLD COMPANY TERMINI or COMPLETED ROA AT THE TIME or ITS ACQUIRE MCNT. LENGTH m MILES. NAME or COMPANY BY WHICH ACQUIRED, 01 TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Kingwood 4 Tunnelton. . .. Tunnelton to Kingwood, W. Va See Manual for 1899 p 226 11. Of 10.0C 8.0C Tun., King. 4 Fairchance Abandoned May5, 1888.* K Milwaukee Miner. Springs. See Manual for 1899 p 226 Abandoned, 1899 Bath to Rockland Me •4V 16.0C 14.00 65.3G 4.02 74.52 "Vi'.ii 38.74 74.00 7.00 22.01 0.55 6.50 11.00 8.00 36.00 20.00 10.00 17.28 26.50 10.00 13.00 Maine Central Merged Feb. 20, 190! . Acquired by pur Knoxville & Augusta Ktioxville A New River Knoxville to Mary ville, Tenn bobbins to Leak'/ s Mills, Tenn t Knoxville to Jellico, Tenn Southern Road abandoned, 1894-5 . See Southern Ry. Merged June, KK Cunsol. Nov. 25. ls«). March 11. 1883.* Nov. 18, 1832.* Owned by D. 4 H. Voprietary road. Knoxv.. Cum. Gap 4 L'v'Ue. Knoxville Southern I^trkawanna & Pittsburgh. . Lacka wanna 4 So1 western. .. I.ackawanna & Susquehanna Lafayette ) Coal Creek to Cambria, Tenn See Manual for 1893 p 797 Southern See Manual for 1899 I Belfast Jet. to Perkinsville, N. Y. . 1 Angelica to Olean, N. Y Marietta 4 North Georgia r Lacka wanna 4 Southw'n . . J Central N. Y. 4 Western . . . Delaware 4 Hudson Central of New Jersey ) Wayland to Olean, N. Y 1 Angelica to Belfast, N. Y. f uneven, N.Y , to Jefferson Jet., Pa. . . Lafayette to Griffing Iron Works . . . Wabash . . Abandoned, June 30, 1893 . . . Like Creek. lontgomery to Hard Thicket, Tex. . . Road abandoned, 1894-95 . . . Uke Erie, AIL 4 Southern. . Lake George 4 Muskeg. Riv.. Lake Michigan & Northern . . bike Shore 3hio River 4 Lake Erie Road abandoned Jan. 3, 1895.* ermini not reported ^akeport to Alton Bay, N. H touffv. Jet. to Jackson's Point, Can. . ilenbrook to Summit, Nev Termini not reported Abandoned, 1893-7 Concord 4 Montreal Grand Trunk of Canada Lake Va'ley . . 'roprietary road. ?onsol. in 1893. )wned by same parties. Lake Sioicoe June Lake Tahoe. Lake Valley Abandoned, 1836-97 Lancaster 4 Cecil . . Childs to Providence Mills, Md 4,00 21.00 15.30 Lancaster, Cecil 4 South. .... Lancaster 4 Hamden. unc. C. 4 M. Ry. to Bloomingv., 0. ... Lancaster to Quarryville, Pa. Col'bus, Lancaster A- Wellst. .. Lane. 4 Reading Nar. Gauge . Abandoned, 1896-97 n 1895.* Reorganized in 1S94. LaPorte, Houston 4 North' n. Ijaramie, No. Park 4 Pacific. ! :iiird 4 Northwestern Houston to La Porte, Tex 22.00 13.33 20.00 3.50 2.50 9.47 11.50 18.40 31.90; 1.00 Calves' n, La Porte 4 Houst'n. Abandoned ConsoL Jan. 23, 1835. Laramie, Wyo , to Soda Lake •>ee Manual for 1901, p. 446 Gulf 4 Ship Island. Merged. Laurel Fork 4 Sand HilL . . . Laurel River 4 Hot Springs . I-aurel Run -aurel Fork Jet. to Volcano, W. Va. . . [ot Springs toward Laurelton, N. C. .. Abandoned in 1898. Road abandoned Abandoned, 1831-92 Laurens Newberry to Dover Jet., S. C Columbia, Newb. 4 Laurens. . Purchased in 1836. Lawrence 4 Emporia awrence to Carbon Hill, Kan Abandoned March 22, 1834. . . Lawrenceville Terminal Lawrence, Emporia 4 South. Leavenworth Depot 4 RR. .. Leaven worth 4 St. Joseph . . Leavenworth, No. 4 South . . I*avenw., Top. 4 Southw. . . Lebanon Springs ittsburgh Jet. RR, to Alleg. Vy. RR.. Abandoned 1901 Kan. Citv,Lawrence& \Vich. . Kansas City Northwestern. . . Reorg.July, im 3ee Manual for 1901, p 503. Bee Creek to Beverly, Mo 23.66 46.13 46.57 57.20 500 Chicago Great Western SVilder to Cummings Jet., Kan. Atchison, Top. 4 Santa Fe. . .. i Leavenworth 4 Topeka Merged Feb. li. IS (3. Reorg. Dec. 29. 1s®). Reorg. Oct. 19, KM 3ee Manual for 1900, p. 540. hat ham to Lebanon, Vt Chatham 4 Lebanon Vy Lchigh 4 Pavilion /ehigh Salt Mines to B R 4P Ry Leon.Mt.Ayr 4 Southwest'n Lima Leon to Grant Citv, Mo 57.72 46.22 4.00 4.00 80.00 157.34 10.30 8.50 51.60 1100 {• Chic., Burl' ton 4 Quincy. . . Merged Jan. 1,1931. Bethany Jet. to Albany, Mo jma to Honeove Falls, N Y Lima 4 Honeoye Falls. Lima Northern Lincoln 4 Black Hills Lincoln Park 4 Charlotte. . .. Litchfield Belt ima to Honeoye Falls, N Y Nov. 28. 1S96.* Vame died. May, '97. Perpetual lea«e. Merged 11)01-02. Jma, 0., to Detroit Jet., Mich see Manual for 1898, p. 382 incoln Park to Charlotte, N. Y. . . tLitchfield 111 Detroit 4 Lima Northern 3hic., Burlington 4 Quincy. . . ' Buff., Rochester 4 Pittsburg . \bandoned 1893-94 Litchf., CarroHton 4 West. . . Little Book Cliff. olumbiana to Barnett, I1L Quincv, Carrollton 4 St. L . . . Col Wyoming 4 Gt North . . Reorg. Feb. 7. 1899. Purch. Nov. 9. 1894. rand Junction, Col to Mines Little Falls 4 Dakota Little Rock 4 Memphis. Little Rock 4 Texas. /ittle Falls, Minn., to Morris, Minn. . . .ittle Rock, Ark., to Memphis, Tenn.. >ee G°neral Index 88.78 135.00 18.34 4.00 3.00 9.30 15.12 10.33 68.83 12.03 8.41 13.80 13.25 2.7 •> 51.30 17.7f 6.10 5.50 Merged Sept. 1, 1896. Reorg. Sept. 15. 1838. Proprietary road. Reorg. Aug., 1899. Merced June 25, 1897. Merged Dec. 31. 1X92. Merged Nov. 27. 1895. Merged Feb. 8, 1902. Consolidated in 1893. Nov. 28, 1833.* Proprietary road. Reorg! April 20! 1901. Shoctaw 4 Memphis 3t. Louis 4 San Francisco .... Little Rock 4 Hot Spgs. West . West Side Belt Hanover 4 York. Uttle Rock. Hot Spgs. 4 Tex. Little Saw Mill Run •iee Manual for 1899 p 606 ittsburgh to Banksville Pa Litt lestown fianover. Pa., to Kingsdalc (Md.Line) Ixxjkport 4 Buffalo. . . ndo to L"9 AnT:'l"S, Cal •ittsfield Junction to Pittsfield. Ill ... 'rippe Junction to Auburn. Ark, Erie Seaboard Air Line Grand Trunk of Canada Logans ville 4 Lawrenceville. London, Huron 4 Bruce. . . . Long Beach. ' Phila. 4 Beach Haven Central RR. of New Jersey. . . Centra' RR. of New Jersey. . . Dppt. of Str-^et R'-s San Pedro, Salt Lake 4 Los A, D^pt.i'f Street R- s Long Valley Loogwood Valley Lookout Point Incline Co. . . Lo» Angeles Terminal Ry Lo* \nteles 4 R-d >nd > Louisiana 4 Pike County. . . . Louisiana, Ark. 4 Missouri.. . Wabash Manual for 1818. p. S10. suspended, 1893-9}. Cons' tive opera, indefinitely. . * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continual. 107 NAME OF OLD COMPANY. TERMINI' OF COMPLETED ROAD AT THE Tl.ME OF ITS ACQUIRE- MENT. LENGTH IN MILES. NAME OF COMPANY BY WHICH ACQUIRED, on TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHBV AND How ACQUIRED BT EXIST- ING COMPANY. Louisiana Central Louisiana Nickel Plate Port Allen to Musson, La In State of Louisiana 22.00 8.00 20.00 10.00 16.40 13.38 180.60 364.68 42.19 451.40 797.98 4.13 166.32 123.20 12.50 5.00 39.50 3.00 115.03 11.50 10120 104.20 12.40 167.54 24.50 59.00 1.23 3.50 34.36 230.12 25.00 17.00 10.00 42.00 Abandoned Sibley Lake Bistineau & So Louisiana North A South . . . Gibsland to Homer, La Reorg. Jan., 1890. Merged Nov.. 1901. Purch. Aug. 15, 1898. Reorg. Jan. 1, 1889. Consol. May 21, 1889. Acquired Dec. 24, 1900. Purch. Aug., 1892. March 10, 1897.* Purchased in 1892. Branch line owned.. May 4, 1896.* Merged Aug. 31. 1894 Merged in 1899. Louisburgto Franklinton, N. C. Centralia to Drivers, 111 Louis., Evans. & St. L. cons. .. Cincinnati & Dayton I.niii-'ville, Cin. & Dayton. ... Hamilton, 0., to Middleton, 0 L'.'uisv.. Evansv. A St. Louis L'liiLs., Evans.& St.L. consol I.'".;isv., Hards'b'rgA West . l.'iiiisv., New Albany A Cnic Louisv. New Orleans & Tex . Louisville Ry. Transfer Louisv., St. Louis & Texas . . I N.Alb., Ind., to Mt. Vernon, 111., & 1 1 brs.(SeeManual for 1899,p.474) t" See Manual for 1900, p. 661 Irvington to Fordsville, Kv., & br. . . . See Manual for 1897 p. 107 Louis., Evansv. & St. L. Con. . Southern Ry. Co Louisville, St. L. & Texas. . . . Chicago, Indiana & Louisv. . . See Manual for 1892, p. 763 E. Louisville to S. Louisville, Ky See Manual for 1896, p. 231 See Manual for 1893 p 383 Louisville & Nashville Louisv., Henderson & St. L. . . Lowell to Freeport, Mich Gd. Rap., Belding & Saginaw . Lowell Logins Lower Laurentian Ry Lutherv. & Colony Mount. . . Lynohb'jrg & Durham Macon & Atlantic Mac >n & Northern RR Macon A Northern Ry Madison, Alton & Ciiicago. . . Logging RR St. Tite Jet. to Riviere a Pierre, Que. . Termini not reported Lynchburg, Va., to Durham, N. C. . Bruton, Ga., East Macon to Athens, Ga Great Northern of Canada. . . . No longer in exist., 1895-% . . Merged 1900. Norfolk & Western Merged Oct. 6. 1896. Reorg. Nov. 30, 1892. Dec. 16, 1894.* Merged Oct. 17, 1895. Atlantic Short Line Macon & Northern Ry. Macon to Athens, Ga fer.nmi not reported Malone N Y. to International Bdy. .. Central of Georgia Abandoned, 1896-97 St. Lawrence & Adirondack. .. Atlantic Coast Line of S. C . . . Concord & Montreal Consol. Nov. 18. 1895. Consol. July 18, 1898. Proprietary road. Absorbed May 1, 1902. Proprietary road. Merged Oct., 1890. Consol. Dec. 5, 1895. June 4, 1896.* Purch. Nov. 1, 1883. Manchester al A Ry Mas >n County Central Massena Springs & Ft. Cov.. . Massill.m RR Marquette to Ishpeming, Mich., & brs. Baltimore, Md., to Delta, Pa See Manual for 1893, p. 396 Shelton Southwestern Ft. Covington to Massena Sp'gs, N. Y. Navarre to Warwick Mines, 0 United States A Canada See Wheeling A Lake Erie. . . . Matt i n & Kvansvillc Maxton. Alma A Rowland.. . MC lOosport & Belle Vernon. McKeesport & Bessf-mer Mcailville A Linesville Mechanicv. & Ft. Edward. . . Mecosta Mattoon, 111., to 111. and Ind. Line Maxton to Rowland N C Reynoldton to Belle Vernon, Pa Coch.Sta.(P.V.&C.)toMcKeesp., Pa . Meadville to Linesville, Pa Mechanicville to Ft. Edward, N. Y . . . ( Byers, Mich., to Austin, Mich Pittsb., McKeesp. A Yough. . . Pittsb., Va. A Charleston Meadv., Conn. L. A Linesv. .. . Abandoned 1894-5 Consolidated 1891. Consolidated in 1894. Purchased 1891. } Abandoned in 1890 Mchcrrin Valley Memphis & !3in?ham. Belt. . . Memphis 4 Charleston Margarets'v., Va., to Hicksford, N. C. . 1 Abandoned in 1895-6 See Manual for 1898, p. 800 1 Junction to Menominee, VV is Purch. Feb. 20, 1898. Merged in 1893. j- C., St. P., Min. A Omaha... Out of existence I Junction to Cedar Falls, Wis Meriden, AVaterb. & Ct. Riv. Mrtnij) >litan Elevated ernavaoaA Pacific . Mexican National RR Middle A East Tenn. Cent. .. Georgia 4 Atlantic. . . Mi 1 !! • Tenn. & Ala Midd:eb.,Hi«thland4L.But. "h Belt ) Cromwell to Waterbury. Conn I Centre St. Ext. Meriden, Conn Elevated lines in New York City Mexico City to Balsas River, Mex. . . . See Manual for 1902, p. 836 Gallatin to Hartsvilie, Tenn 29.50 0.84 18.08 182.00 1,121.76 12.00 64.59 46.30 10.00 22.00 10.15 j-Middlet'n.Mer.AWater... Manhattan Mexican Central National RR. Co. of Mexico . . Opera, susp. ; See Manual for Central of Georgia May 18, 1896.* Merged Mav, 1894. Merged Nov. 1.1902. Reorg. Feb. 24, 1902. 1897, p. 184. Purch. Dec., 18%. Purchased. See Manual for 1897, p. 184 Nashville. Chr tt. A St. L Abandoned, 1890-1 Around Middlesborough, Ky., & brs. .. Middlesborouzh to Coal Mines. Tenn. . Middlesborough. • Aug. 22, 1895.* Purchased April, 18ft). Muldlebureh RR . . Louisville A NashVille * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. 108 POOR'S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. NAME or OLD COMPANY. PKKMINI or COMPLETED ROAD AT THE TIME or ITS ACQUIRE- MENT. LENGTH IN MILES. NAME OF COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY Kx INT- ING COMPANY. Middletown * Cincinnati Midland* Hubbard. Midland (Can.) Midi mil ( I mi ) Middletown to Middletown Jet.. 0 Termini not reported For mile., see Manual for '93, p. 1 1 13. . Anderson to Brown's Vallev, Ind 13.95 479. ii 74.00 Cincinnati, Lebanon A Nor. . Abandoned Purch. Dec., 1902. Grand Trunk Ry. of Can Chicago A Southeastern Consol. in 1893. Feb. 1, 1892.* Consol. Oct. 1, 18%. See page 611. Consol. 1899. Min'm A Centre County Mill Creek Flume A Mfg. Co. MB] Creek Valley Milk-n & Southern Mi!!e»b. Ashl'dAGreenw... Miltim A Siitlii'rlin 1 »'wi>t'>wn.lct. to.Milrov. 1'a Walla Walla to 1 )udley A Dixey. Wash. See General Index Sutherlin, Va., to Milton, N. C Shreve to Jeromeville, 0 Sutlierlin, Va., to Milton, N. C See Minual for 1899 p 369 12.43 13.40 6.50 13.50 6.50 103.89 426.30 20.16 17.33 22.45 733.04 14.60 5.25 371.85 20.00 21.00 26.00 45.82 14.00 3.25 5.00 27.00 11.00 1.33 0.61 28.00 161.70 29.85 8.50 19.00 6.80 122.01 178.49 31.00 7.00 15.80 1.40 18.72 17.90 8.99 ' '388.36 79.65 10.35 1.00 Sunbury A Lewistown Oreg :n RR. A Nav. Co Pittsb., Shawnmt A North. . .. Road abandoned Vshland & Wooster Purchased Mar. 2, IV 7 Acquired July i:' Purch. Julv 1,1893. Absorbed in Oct., 1900. Leased, virtnallv coiix 1 Purchased 1898. Merged Sept. 1, 1893. Dec. 11,1891. Name cl>gd. 1897-98. Oct. 11. 1894.* Absorbed Feb., 1899. Purch. in 1901. June 25, 1896.* Purch. June 5, 1902. AWrhoH 1S9Q Road abandoned Milwaukee A Lake \Vinneb. . Milwaukee A Northern Milwaukee A Superior Milw.. Hav View A Chicago. . Milw.. Dexterville A Nor Milw., Lake Shore A West. . . Milw.. Meno. Falls A West... Minden Minneapolis A St. Louis Ry. . Minneap.. X. t'lm A S'w'n.. . Minnesota A Wisconsin KK . Minnesota A Wisconsin Ry. . Minnesota Western Minn Belt Line A Trans. Co. Sec Manual for 1894, p. 412 Granville to North Lake, Wis., A brs. . At Milwaukee, Wis Dexterville to Lvnn, Wis See Manual for 1893, p. 824 Granville to Sussex, Wis., A brs Minden to Siblev, La See Manual for 1894. p. 921 Winthrop to Cottonwood River Emerald to Spring Valley, Wis Spring Valley to Emerald, Wis Evan to Marshall, Minn See Manual for 1899 p 669 Chic , Milw. A St. Paul Chic , Milw. A St. Paul Chic., Lake Shore A East'n . . . Chic.. Milw. A St. Paul Chicago A Northwestern Arkansas, I A. A Southern. . . . Minneapolis A St. L. RR Minneapolis A St. Louis Chic., S. P., Minn. A 0 Minnesota A Wis. RR Chicago A Northwestern Termini not reported Road abandoned, 1893-4 \Iiv.ihnsnn City,Tcnn..to Caney Riv.N.C. South 4 Western Lexington 4 Big Sandy L. E., Alliance & Wheeling. . . Detroit Southern Chic., St. L. 4 New Orleans. . . \Ilinnce to Bergholz, 0 See Manual for 1900. p. 299 See Manual for 1838. p. 480. Ohio Vallev 4 Junction Canal Dover, 0.. West 3.50 6.00 1.50 14.00 Cleveland & Marietta Ry Abandoned 1839-1900 Oil City 4 Ridgway ilCity to Cr'nbcr-y Mines, Pa Oklahoma City Term. RR. . . Olean, Oswavo 4 Eastern.. . . See Manual for 1901, p. 516 Oswavo to Gencsee, Pa St. Louis 4 San Francisco. . . . New York 4 Pennsvlvania. . . Merged June 21, 1901. ConsoL April 28, 1896. Purchased. Merged Nov. 1.1898. Jan. 27, 1896.* Purch. Oct. 12. 1901. Branch line owned. Name changed 1890. Absorbed in 1902. Branch line owned. Purchased in 1891. March, 1893.* ConsoL Feb. 1, 1893. Purchased in 1893. Proprietary line. 01 vmpia 4 Chehalis Valley . . Omaha 4 Republican Val.. . . Omaha 4 St. Louis R- Omaha 4 St. Louis RR Omaha Belt Onnha, Dodge City 4 So. ... Omaha, K.inras City 4 Last . Omaha Southern Olvtnpia to Tenino, Wash See Manual for 1833 p 058 15.00 482.04 145.00 144.20 26.40 33.97 28.49 46.00 152.80 Port Townsend Southern Pattonsb'";, Mo., to Council Bluffs, la . Pittonsburg.Mo., to Council Bluffs.Ia. Proprietary line. Mo. Pacific Dod.tc Citv to Montczuma, Kan Pattonsburg t'> Trenton Mo Omaha 4 St. Louis RR Wabash Missouri Pacific Dodge City, Mont. 4 Trin Quincy, Omaha 4 Kans. City. Missouri Pacific Union Jet. to West Side Jet., Neb Sidnaw to Ontonagon Mich Ontonagon 4 Brule River. . . Oram?eBe]t Orangeville 4 Lehigh Sanford to St. Petersburg, Fla No road built bv this company. Sanford & St. Petersburg Central Penn. 4 Western Orchard Beach 3aco River to Old Orchard Bch., Me. .. 2ave Spring. Ga., to Iron Ore Beds . . . Tammal to Silver Springs. Pa Pendleton, Ore., to Day.,Wash.,4 brs. Yaquina to Idahua, Ore. Yaquina to Idahua, Ore See Manual for 1889, p. 879 See Manual for 1837 p 810 3.00 6.50 8.00 161.00 141.80 141.81 598.08 1,429.70 68.73 162.40 6.30 17.70 10.00 56.00 264.00 67.2.5 7.00 5.00 3.33 83.4C 4.64 42.16 49.32 12.94 59.61 3.94 7.25 Ore Belt RR. Oregon 4 Texas. Oregon 4 W.i ihington Ter. . . Oregon Central 4 Eastern. . . Oregon Paci6e Oregon Short Line Ore. Sh't Line 4 Utah Nor . . Southern Abandoned Washington 4 Colum. Riv . . . Corvallis 4 Eastern Oregon Central 4 Eastern. . . . Ore. Short Line 4 Utah No ... April 20. 1892. Purch. Dec., 1897. Dec. 22. 1894.* Consol. Aug. 1, 1889. Jan. 9. 1897.* July, 1896* Purch. Dec. 5. 1890. Consol. April 9. 1891. Merged Julv 1, 1897. Consol. April 9. 1891. Name changed in 1894. Merged Aug. 1899. Absorb. Ma v 20, 1899. Purch. April 16, 1894. Oregon Ry. Extensions Co. . Oregonian Sec Manual for 1890, p. 328 J Ray's Landing to Coburg, Ore. . .. | Ore. RR. 4 Navigation Oregon 4 California Orlando 4 Winter Park. . . OrL. W. B. 4 Fr L. Spgs. . . Oseeola 4 Lake Jessup. Orlando to Lakemont, Fla East Florida 4 Atlantic Chic., Indianap. 4 Louisv. . . . Orleans to French I.ick Sp'gs, Ind. . . . Lakemont to Ovicdo, Fla . . . Ottawa 4 Gatineau Vallev. . Otta.. Arnprmr4 ParrvSd. O..Oswego4 FoxRv.Vv.RR Ottawa Valley .' Hull to Wright. P. Q Ottawa to Parry Sound, Ont Geneva to Streator, 111 Canada 4 Atlantic Chic.. Burlington 4 Qi.incy. . . Atlantic 4 Lake Superior. . . Abandoned 1894-95 \bandoned in 1893 St. Andrews to Lachute, Que In Elk Countv. Pa Ottumwa to Kirkville. la ) Owensboro to Adairville. Ky i Penrod to Mud River Mines, Ky Owensboro to Horse Branch. Kv. Va. State Line to Durham. N. C Oxford to Henderson. N. C Orleans. Neb to Kansas I ine Otto Glen Ottumwa 4 Kirkville Owensboro 4 Nashville .... •wensb.. Fls. of R. 4 G.Riv Oxford 4 Clarlwville Oxford 4 Henderson Oxford 4 Kansas !• Louisville 4 Nashville Illinois Central Proprietary' line. \pril, 1897.* Purch. Aug. 22. 1894. Purchased in 1894. Perpetual lease. Merged 1896-97. Southern Southern Chic., Burlington 4 Quincy. . . Long Island Oyster Ba v Extension Pacific 4 Great Eastern. . . . Pacific Rv. of Nebraska. . . . Pacific Short Line See statement of L. I. RR.Co Fayetteville to Wyman, Ark Proprietary line of the Missouri Pac. . . Abandoned 1894-5 Covington to O'Neill, Neb 129.16 Sioux City. O'Neill 4 Wesfn Oct. 23. 1891.* * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Contintud. Ill NAME OF OLD COMPANY. TERMINI OP COMPLETED ROAD AT THE TIME OF ITS ACQUIRE- MENT. LENOTH IN MILES. NAME OP COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Packwaukee & Montello. . . . Paducah, Tenn. & Ala Paducah Union Depot Packwaukee to Montello & spurs Paducah. Ky., to Lexington, Tenn ) In Paducah, Kv., from Ohio Riv. / 1 to con with L' ville Div. Ill.Cen. f In Hudson County, N. J Termini not reported 7.96 119.20 0.70 4.44 Wisconsin Central Merged July 13, 18)9. See Manual for 1898,p.527. Nashv., Chatt., A St. Louis. . . See footnote marked t See Dept. of St. Ry? Abandoned Palmdale Palmetto Hamlet, N. C., to Cheraw, S. C 18.28 Seaboard Air Line Merged Nov., 1901. Proprietary road. See page 561. Aug. 9. 1893.* Victoria, Tex., to Guadaloupc River. . Washburn, Tex., to Pan Handle Jet. . . See Manual for 1902, p. 1£06 10.00 14.54 Abandoned in 1894 Fort Worth & Denv. City. . . . Kansas C ty, Mexico & Orient Paragould Southeastern St. Louis, Iron Moun. & So. . . Abandoned in 1891 Pan Handle . .... Pan Handle A Gulf Parasouid & Buffalo Island. . Paris & Great Northern Paris & Pere Marquette Paris. M.irs'll & Sabine Pass . Pasadena Patten & Sherman Paragould, Ark., to Cardwell, Mo Red River to Paris, Tex Palmer to Upper Paris, Mich., and brs. Marshall to Mont vale Springs, Tex. . . . Pasadena to Altadena, Cal Patten Jet. to Patten, Me Oxford. Pa., to Dorsey's, Pa Pecos, Tex., to Roswcll, N. M ii.29 16.94 24.86 15.50 6.00 5.65 20.00 164.00 7.00 Texas Southern Purch. March 12, 1897. Consol. Jan. 2, 1891. Purch. July 1, 1901. June 16, 1890.* April 19, 1898.* Consol. May 1, 1902. Los Angeles Termini! Bangor & Aroostook Peach Bottom Pen is Valley Lancaster, Oxford A Sou Pecos Valley & Northeast' n . . St. Louis & Gulf Petniscot Southern Pennsylv. & Northeastern. . . Pascola to Deering, Mo See Manual for 1895, p. 98 Penn., Poughkeep. A Boston . See Manual for 1899 p 234 . 12.60 52.35 101.30 160.28 19.00 237.51 6.29 85.00 3.00 310 PennsyL. Pough. & Boston. . Pennsyl. Schuylkill Valley . . Pensacola & Atlantic See Manual for 1895, p. 98 Phila. to New Boston, Pa., and brs. . . . Pensacola, Fla., to River Jet., Fla. . . . Termini not reported Lehigh & New England Schuvlkill& Juniata April 2, 1895.* Consol. June 1, 1900. May 4, 1891.* Reorg. 1893-94. Purch. Oct., 1901. Merged June 6, 1901. Purch. July 1, 1901. Merged Nov., 1894. Merged 1901-02. Name changed 1896. Consol. July 23, 1893. Consol. Nov. 21. 1898. Louisville & Nashville Soath'n States L'nd & T*r Co.. [• Illinois Central Peoria, Decatur & Evansville Peoria & Northwestern Peoria & St. Louis 1 Evansville, Ind., to Pekin, 111 I Stewartsville to New Harmony .... Nelson to Peoria, 111 Pekin toward Springfield, 111 Chicago & Northwestern Peoria & Springfield Rock Island & Peoria Perry Silver Lake Jet. to Silver Springs, N.Y Petersburg, Va., to Jet. N. A W. Rv. . . See Manual for 1895 r> 104 1.03 3.37 Buff., Rochester & Pittsburgh. Petersburg & Western South Jersey Petersburg & Asylum Petersburg & Western Philadelphia & Chester Br. . . Phila. & Newtown Connect'g Philadelphia & Reading RR. Philadelphia A Seashore. . . . Phila., Bustleton & Trenton . Phila., Ger't'n & Chestnut H. Phila., Marlton A Medford Petersburg, Va., to Jet. N. & \\. RR.. . See Manual for 1899 p 194 3.15 9.86 Atlantic Coast Line of Va. . . . Phila. Newtown A New York.. Philadelphia & Reading Ry . . South Jersey Connecting Connecting Consol. Sept. 1, 1892. Nov. 7, 1896.* Consol. July 23, 1893. Merged Jan. 1.1902. Merged Jan. 1.1902. Consol. Mav 4, 1896. Reorg. Jan. 12, 1899. Merged July 1, 1894. Jan. 5. 1898.* Reorganized in 1892. Merged Nov., 1901. Consol. 1901-02. Proprietary road. Reorg. Jan. 28. 1902. Aug. 10. 1895.* Consol. Oct. 22. 1890. Consol. Oct. 1, 1890. April 13. 1896 * Consol. Jan. 20, 1897. See Manual for 1890 p 798 327.00 ' ' 3.55 13.87 11.98 57.60 48.40 20.00 30.00 11.20 2.00 30.48 3.30 165.00 20.10 197.27 25.00 106.70 5.00 5.00 2.00 5.18 100.20 1.00 30.00 240.97 41.05 41.05 22.00 3.75 20.00 112.10 227.15 53.86 28.28 2S.50 4.27 5076 See Manual for 1895, p. 104 Between Phila. & Fallsington, Pa Ger't'n Jct.Pa., to Chestnut Hill, & brs. Haddonfield to Medford N J West Jersey & Seashore Phila., Reading AN. Engl'd. Piedmont Pine Bluff & Eastern . . . See Manual for 1898 p 44 Central New England Danville, Va., to Greensboro, N. C. . . . Rob Roy to English, Ark Southern Pine Bluff Arkansas River — Pine Bluff & Eastern Pine Bluff, Monroe & N. Or. . Pittshoro Pittsburgh A Allegheny Pittsburgh & Columbus Piltsburgh & Northern Pittsburgh, Akron & West'n . Pittsb., Butler A Shenango . . Pittsb., Cin. & St. Louis Pittsb.. Marion A Chicago. . Pitts.. Shenango A Lake E. . Point Pleasant & Northw'n. . Pt. Pleasant, AdelphFANo. . Point Pleasant Bridge I'ontchartrain RR Pittsboro to Moncure, N. C Sidings around Mill Pittsburgh to Weir, Kan., & Mines. . . . Seaboard Air Line Pitts., Alleg.A McKee'sRocks St. Louis & San Francisco. . . . Pittsburgh & Western Northern Ohio Coaltown Jet. to Butler, Pa See Manual for 1890 p. 813 Pittsb.,Shen. A L. Erie of '90 . Pitts., Cin., Chic. * St. Louis . Pitts., Lisbon & Western Pitta., Bessemer & L. Erie Lisbon to New Galilee, 0 See Manual for 1897. p. 837 See Manual for 1890, p. 1101.. .. See Manual for 1902, p. 402 Pontchartrain Jet. to Milncburg, La. . Pontiac to Cascville, Mich Lancaster A Hamden Kanawha A Michigan Louisville 4 Nashville Consol. in 1890. Owned line. Proprietary line. Sept. 19, 1899.* Punt., Oxford & Pt. Austin. . Pontiac, Oxford A North'n . . . I't. Edw'ds.CentraliaANo. . Piirt Huron A Nortlnvest'n . . Port .lervis & Monticello. . . . Pt..Iem.s.MonticelloAN.Y. Portage Creek & Rich Vy... Portage Lake & Manistee Ry. Portage Lake 'is Prescott Jet. to Prescott, Arir Profile House to Bethlehem, N. H. . . . See Manual for 1898 p 275 Concord A Montreal Proprietary road. Absorbed Jan. 19 1900. Atehison. Ti.n. A Santa Fe. . .. Kan. A Col. State Line t.. Pueblo, Col . 152.12 Missouri Pacific 4.25 Mosher A McDonald Logg 30.00 HlnkpW Proprietary road. Reorganized. Reorg. Dec. 19, 1896. Owned line. Set- Manual for 1897 p 845 See statement of Northern Pacific. . . . See Manual for 1898. p. 11 31 Massey's Cross R'ds to Centrev., Md. .. 25.00 13.37 25.90 39.79 46.36 106.73 98.74 N. Pac. A Puget Sound Shore . Quebec Ry., Light A Power . . Quebec District Delaware Consol. Jan. 23, 1899. Absorb. May 20, 1899. Absorb. May 20. 1899. Merged Nov., 1901. Merged Nov., 1901. See Manual for 1898. Consoi. Nov! 8, 1895. Merged Dec. 31, 1894. Proprietary road. Merged Jan. 1.1901. Name changed Apr., '%. Consol. Nov., 1889. Qiiincv A Warsaw RR Chic., Burlington A Quincy. . . Chic., Burlington A Quincy. . . Seaboard Air Line Quincy. Alton A St. L. RR. .. Raleigh A Augusta Air Line.. Raleigh A Gaston See Manual for 1898, p. 383 Raleigh to Weldon, N. C., and branch. RaHzh Springs Termini not reported 10.50 6.00 21.00 1.75 18.04 17.70 10.81 No longer in existence Centralia A Chester Randolph A Northeast, Neb. See General Index Perth Ambov to Raritan Brick Works. Red Oak to Griswold, la Chic.,St.Paul,Min. A Omaha. . Central of New Jersey Chic., Burlington A Quincy. . . Los Angeles A Redondo Red Oak A Atlantic Inglewood to Redondo Beach Cal. . . . Southern California. 13.00 Rep' can Vy. K's A Southw. . Republican Vv. A Wvo Rcw Citv A Eldred . . . Republic, Neb., to Omaha, Kan 78.23 49.17 12.16 7.52 22.04 232.50 21.10 145.03 4.19 66.19 7.50 60.76 102 10 Chic., Burlington A Quincy. . . Chic., Burlington A Quincy. . . Abandoned in 1893 Perpetual lease. Perpetual lease. Rew Citv to Eldred Pa . Rice Lk., Dallas A Meno Ry.. See Manual for 1 900, p 338 Min., St. P. A Sault Ste. Marie South Jersey .... Purchased 1900-01. See Manual for 1895, p. 104. Purch. Jan. 20, 1890. July 1, 1894.* Consoi Nov.'21,'l898." Street Rvs. Reorg. July. 1899. Successor. April 10, 1900. July 1, 1894.* Owned bv Atchison. Purchased 1896-97. Absorbed Feb. 15, 1899. Richland to Seaville N J Riclimond A Allegheny j Richmond to Clifton Forge, Va 1 Balconv Falls to Lexington, Va». . . . See Manual for 1895 p 779 - Chesapeake A Ohio Southern Richmond A Miami Richmond A Petersburg. . . . Richmond Cy.A Seven Pines. Richm.,Nich., Irvine A Beat.. Rich., Petersb. A Carolina. . . Richmond. Ind., to Ohio State Line. . See Manual for 1899. p. 398 Richmond to Seven Pines Va. . . Little Miami Atlantic Coast Line of Va. . . . See General Index— Dept. ol Louisville A Atlantic Versailles to Irvine, Kv Richmond, Va to Norlina N C Sen hoard Air Line . . . Richm., York Riv. A Chesap. Rio Grande A El Paso 39.00 Southern Texas State Line to El Paso 20.15 29.50 186.08 26.25 15.00 !24.09 348 Atch., Topeka A Santa Fe Denver A Rio Grande Atch., Topeka A Santa Fe Not in operation Rio Grande A Santa Fe Rio Grande. Mexico A Pac . . Rio Grande Northern Santa Fe, N. M., to Espanola. X. M.. . . See Manual for 1898, p. 275. See Manual for 1898, p. 223 Ritchie Mineral Cairo to Ritchie Mines W Va Cairo A Kanawha Valley Norfolk A Western Feb. 15. 1890. Merged Dec. 2, 18%. Ineorp. Feb. 8, 1893.* Consol. Aug. 14, 1895. Roanoke A Southern Rochester A Glen Haven. . . . See Manual for 1896, p. 688 Rochester to Glen Haven, N. Y. . . . . Glen Haven. . . Rochester A Honeoye Vy. . .. Rochester A Irondequoit. . . . Rochester A Lake Ontario. . . Rochester to Honeove Falls, N. Y. . 14.00 Rochester Southern .. . Rochester to Surnmerville, N. Y Rochester to Lake Beach, N. Y 4.50 6.05 Rochester A Suburban. Rochester A Suburban Merged. Consol. Oct. 2, 1889. July 15, 1895.* Merged Sept. I,'l896." Merged Sept. 1. 1896. Reorg. March 26, 1890. Roch.. Hornellsv. A Lack. . . Rock'ay Vy. Mfg. A Con. Co . Rockport Rocky Fork A Cooke City. . . Rocky Mount'n of Montana . Rogers A Summit Rogers Run Hornellsville Jet. to Hornellsv.. N. Y. . No road owned bv this company See Manual for 1899, p. 45 f-aurel to Red Lodge, Mont Livingston to Cinnibar, Mont Rogers, Ga., toward Stillmore, Ga Termini not reported 10.75 3.66 45.43 52.80 25.00 1.50 18.15 61.30 8.37 18.25 6.50 9.70 7.00 20.50 Lackawanna A Southwest' n . . Rockaway Valley Operations suspended Northern Pacific Northern Pacific Milton A Southern Rome Kingston to Rome, Ga No. Rome, Ga., to Atlanta. Ala Rochester to Ontario Beach, N. Y Alton to Stockton, Kan Rosedale to Phalia. Miss So. Plainfield to Roselle. N. J Eureka to Rnbv Hill. Nev. Mechanic Falls to Gilbertvflle, Me. ... Termini not reported Nash.. Chatt. A St. Louis East Tenn., Va. A Georgia. . . . Rome.Watert'n A Ogdensb. . . Missouri Pacific Yazoo A Mississippi Valley. . . Lehigh Valley Terminal Abandoned in 1893-94. Merged Dec.. 1896. Purch. Mav 10, 1890. Merged 1889. Prop'tarv road. Mo. P. Purchased in 1899. Consol. Aug. 28, 1891. Rome A Decatur Rome.Watert'n A Ogdb.Ter. Rook* Co. Rv. of Nebraska. . Rosedale A Miss. Vv. Central RoseUe A South Plainficld. . . Rubv Hill Rumford Falls A Buckfield. . RussellvilkOreCo Portland A Rnmford Falls . . . Abandoned Nov. 23. 1896. Rutland-Canadian Rut ledge A Julian See Manual for 1901. p. 33. Termini not reported 41.00 Rutland Absorbed Jan., 1901. Abandoned * Acquired by purchase at foreclosure or reorganized after foreclosure snle on date riven. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 113 NAME OF OLD COMPANY. TERMINI OP COMPLETED ROAD AT THE TIME OP ITS ACQUIRE- MENT. LENGTH IN MILES. NAME OP COMPANT BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Saginaw & Grand Rapids . . . Saginaw & Western \v Bay & Northwest'n. Saginaw, Tuscola A Huron... w Valley & St. Louis. . St. Anthony St. Augustine & Halifax Riv. rustine & No. Beach.. . St. Augustine & Palatka. . . . St. Cloud. Grantsb. & Ashl. .. Si Cloud Sugar Belt St. Louis to Alma, Mich Alma to Howard City, Mich PinconningBay to GladwinAbrs.,Slich Saginaw to Bad Axe, Slich Ithaca to Paines, Mich Idaho Falls to St. Anthony, Id See Manual for 1892, p. 298 3.60 42.57 62.31 65.79 35.50 37.46 40.00 3.00 25.30 12.00 15.50 9.50 Detroit, Grand Rap. A West. . Detroit, Grand Rap. A West. . Jackson, Lansing A Saginaw. . Pere Slarquette Detroit, Grand Rap. A West. . Oregon ShortLine Jack., St. August. A Ind'n R. . Abandoned Sept., 1891 Dec. 4, 1896.* Dec. 4, 1896.* Merged in 1901. Merged Slav 7, 1903. Dec. 4, 1896.* See page 611. Consul. 1893. No. Beach Jet. to No. Beach, Fla St. Augustine to East Palatka, Fla. . . . St. Croix River to Grantsburg, Wis. . . Kissimniee to Narcoossee, Fla., and br. Campbell to Caligoa, SIo Jack., St. August. A Ind'n R. . St. Paul A Duluth Consol. 1893. Owned. Merged Slarch, 1892. Consol. May 1, 1902. Merged Feb., 1889. St. Francis Valley St. Louis A Gulf St. Francisv. & Lawrencev. . St. Hefen.Hough.Lk A Wn. . Cairo, Vincennes A Chicago. . . Road abandoned 1892 Termini not reported 11.00 12.00 28.00 50.70 47.27 39.18 9.43 48.09 5.86 97.20 10.00 10.00 20.00 44.53 12.50 7.50 20 66 Jack., St. August. A Ind'n R.. . Abandoned 1899-1900 Consolidated 189a St. Johns & Atlantic See Manual for 1899, p. 479 St .Idling & Halifax Jack., St. August. A Ind'n R. . St. Johns A Lake Eustis RR . . !• Savannah, Fla. A Western . !• Chic., Burlington A Quincy Atch., Topeka A Santa Fe. . . . Abandoned Consolidated 1891 Jan. 6, 18%.* Sferged 1902. SlergedJan. 1,1901. Sferged June 1,1900. St. Johns & Lake Eustis Ry . St. Johns & Lake Eustis RR/ St. Joseph & Des Moines. . . . See Manual for 1896 p 834 ( Leesburg to Astor, Fla Albany to St. Joseph, Mo St. Jos.. St. L. & Santa Fe... St. Joseph Valley St Joseph Valley RR Lexington Jet. to Winthrop, Mo., A br Buchanan to Berrien Springs, Mich . . . Buchanan to Berrien Springs, Mich . . . Inter.Line to Salaberrv de \" v'd, Que . Springfield to Sit. Olive, 111 St. Joseph Valley Ry Slohawk A Malone May 7, 1889.* Consol. June 22, 1892. Reorganized. Purch. Feb. 29, 1896. Merged May 20, 1896.* Purch. March 1. 1902. Absorbed Star. 31,1899. Purch. March 1, 1894. July 9, 1892* See Manual for 1898,p, 472. Oct., 1890.* Reorg. Sept.. 1898. St. Laurence & Adirondack St. Louis & Chicago North A South of Illinois [ St. L., Peoria A Northern. .. Missouri, Kansas A Texas. . . . S. L. Slemph. A Southeast. . . . j Glen Carbon to Slarine, 111 St. Louis & Kansas City 1 Alhambra, 111., to Marine, 111 Holden to Sedalia, SIo Paw Paw Jet toGodair SIo St. Louis & Oklahoma City. . St. Louis & Peoria St. Louis, Alton & Springfi'ld St. L., Alton & Terre Haute . St L , Arkansas & Texas. . . . Sapulpa, I. T.. to Oklahoma Citv, O.T. Alhambra to Sit. Olive, 111 1 Alton to Springfield 111 103.26 13.00 86.64 8.40 14.40 1,222.10 36.00 16.00 92.40 27.25 110.50 41.61 90.00 59.35 43.10 225.71 8.00 6.30 197.83 5.00 98.70 57.43 285.11 40.50 33.00 ' 15230 20.27 ' 146.56 180.71 8.00 35.46 40.00 3.07 85.50 15.00 7.00 58.04 ' ' ' 2.50 29.00 St. Louis A San Francisco. . . . St. Louis A Eastern | St. L., Chicago A St. Paul. . Illinois Central ) Lock Haven to Grafton, 111 EastSt Louis to Belleville 111 See Slanual for 1890 p 493 St. Louis Southwestern StL., AvovellesASo'w'nUy. St. Louis, Cable & Western . . St.Louis.Cape G. & Ft.Smith St. Louis Caruthersvule & SI. St. L., Chicago & St. Paul. . . St. L., Des Moines & North. . St. L.. Indianapolis & East'n St. Louis, Kansas & Southw.. St. Louis, Kennett & South^i St. Louis, Keokuk & Nortlnv St. L., Slorehouse & South. . . St. L., Oak Hill & Carondelet St. L., Oklahoma & Southern St. L, Okla. & Tex. Air-Line. St L., Peoria & North. (part) St. L.,Peoria & North, (part"1 St. L., Rock Island & Chic. .. St. L., Salem & Arkansas. . . . St. Louis Southern St. L.Sturgis A Battle Creek St. Louis Tunnel St. Louis Valley. . . See Manual for 1898, p. 190 Avoyelles Ry St. Louis Suburban See Slanual for 1899, p. 61 1 Daruthersville,Slo.1to Blvthesville, Ark See Slanual for 1899, p. 293 Southern Mo. A Arkansas St. L., Slemph. A Southeast. . Chicago, Peoria A St. Louis. . . Reorg. Mav4. 1899. Consol. in 1902. Consol. Jan. 2, 1900. Nov. 22, 1889. Slerged. Reorg. Dec., '98. aft. fore. Consol. May 1, 1902. Purch. Jan. 1, 1901. Consol. May 1, 1902. Proprietary Company. Slerged June 22, 1901. Merged 1900. [ Purchased !899. Merged Mav 20, 1899. March 10, 1897. See Slanual for 1898, p. 472 Purchased '1903. " Consol. Jan. 28, 1897. Switz City, Ind., to Effingham, 111. . . . Cale Jet. to Anthony, Kan Illinois A Indiana Kansas Southwestern St Louis A Gulf. See Slanual for 1901, p. 216 Chic., Burlington A Quincy. . . St. Louis A Gulf. Tower Grove to Carondelet, SIo Sapulpa to Denison, Tex See Slanual for 1899, p. 610 Missouri Pacific St. Louis A San Francisco Tecumseh Chicago A Alton See Manual for 1898, p. 382 ^uba Junction to Salem, Mo I'inckneyville to Carbondale, 111 See Slanual for 1890 See Slanual for 1902, p. 515 Chic., Burlington A Quincy. . . St. Louis A San Francisco Illinois Central Sturgis, Goshen A St. Louis. . . Tunnel RR. of St. Louis St. Louis, Iron Slountain A So. Buffalo, St. Slary's A Sou. . . . >'. Mary's ft Southwestern.. . St.Marv's, Lake C. A Gulf... St PaulADuluth St, Slary's to Hvde, Pa See Slanual for 1896, p. 1601 See Slanual for 1900 p 585 . .. . Northern Pacific Ry Acquired July 1, 1800. Merged Sept. 1, 1896. St. Paul & Northern Pacific. . See Slanual for 1896, p. 702 Northern Pacific Union Pacific Merged Sept. 30. 1900. Consol. Dec. 27. 1890. Purch. Dec. 31. 1898. Proprietary line. April 8. 1890.* Aprils. 1890.* Consol. Aug. 1. 1889. Oct. 27. 1891.* Name changed 1894-5. July 7. 1896. Consol. June 8, 1892. Salma, Sterling & El Paso. . . Salincville Salmon River Salt Lake 4 Eastern Salt Lake A Fort Douglas.. . . 8»H Lake A Western Salt Lake Vy. A Eastern Salt Spgs. A Bowden I jthia . San Antonio A Gulf Shore. . . San Bernardino A Eastern . . Hutchinson to Genesee, Kan Salineville, 0., to coal mines Blaekfoot to Mackav, Id Jct.S.LA Ft.D. toward ParkCitv.l'tah Salt Lake Citv to Fort Douglas, Utah . See Slanual for 1889. p. 879 No road built by this company Kan. A Col. Pac Cleveland A Pittsburgh Oregon Short Line Utah Central Utah Ontral Oregon Sht.Line A Utah No . . Sioux City. O'Neill A West'n . Bowden Lithia Springs Sari Antonio to Sutherl'd Spgs.. Tex. . See statement of \ T A S F Southern California ' Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. 114 POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES- -Continued. NAME or OLD COMPANY. TERMINI or COMPLETED ROAD AT THE TIME or ITS ACQUIRE- MENT. LENGTH IN MILES. NAME or COMPANY BY WHICH ACQUIRED, OR TO WHOSR STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. San Diego A Phoenix S. Diego.01drn4Pac.B-h San Francis.AS.Joaquin Vy. San Fran.. Tamalpais & Bol. brielVy. Rap. Iran... See Manual for 1898. 13.00 11.50 304.16 68.41 1.75 19.27 Abandoned San Diego to Pacific Beach. Cal See General Index— Dept. of [ Atch.. Topeka A Santa Fe. . North Pacific Coast •St. Rys. Merged April 1, 1901. Purchased in 1892. Merged; see page 654. i Bakersficld to Point Richmond. Cal 1 Calwa Jet. to Corcoran Jet.. Cal. . . Bay Junction to Mill Valley, CaL Southern Pacific of Cal Southern Pacific Sanb.. Coop'n A Turtle Mtn . Sanborn to Cooperstown, N. D. >andersville to Tennillc Ga 36.75 4.00 110.00 117.48 17.32 30.00 22.47 50.42 565.65 29.50 12.00 25.00 10.00 8.50 10.00 24.00 37.00 264.50 1,773.77 17.70 17.70 481.97 Northern Pacific Augusta Southern Merged Sept. I. 1896. Purch. Feb., 1894. Name changed. Consol. Dec. 23. 1893. Merged May 1.1891. Consol. May 1. 1890. Purchased t&OO. Purchased in 1901. Merged 1901-02. July, 1895. Absorb. Jan. 13. 1900. San. A Col.. Lake Eric 4 So. . S.ind'kvACoI'b'8 Short Line.. Sanford A Indian River Sanford A Lake Eustis. •vindusky, 0., to Columbus, 0 ^andusky, 0., to Columbus, 0., A brs . ^anford to Lake Charm. Fla >anford to Tavares. Fla. Sec Manual for 1901 p 614 Sandusky A Col. Short Line. . . Colum's. Sand'ky A Hock'g . . South Florida Jackson. Tampa A Key West.. Southern Pacific of Cal. . Santa Fe 4 GrandCanyon. . *Mnta Fe Pacific • Williami Ariz., to Anita Camp S'x; Manual for 1902 p 434. Atchison, Topeka A Santa Fe. Atchiaon, Topeka A Santa Fe . Rio Grande A Santa Fe Atch., Topeka A Santa Fe Abandoned in 1890 ^nta Fe Southern Santa Fe, N. M., to Espaiiola, N. M.. . . See Manual for 1900. p. 460 Saratoga A Mt. McGregor.. . Saratoga A St. Lawrence Saratoga to Mt. McGregor, N. Y \Ioira to Bombay Junction, N. Y See ManuaHor 1899, p. 237 Saratoga Northern Reorg. June 28, 1897. Reorg. March 31, 1898. Bombay A Moira Abandoned 1899-1900 Satsop Sault Ste. Marie A Southw . . Sav.. Americus A Montg'ry. . Savannah. Florida A West'n. Shelton toward Satsop Fairchild to Mondovi, Wis L' ons, Ga., to Montgomery, Ala V?e Manual for 1902 p. 748. . . Wsshington Southern Name changed Mar. 1, '91 Pureh. April 1, 1891. July, 1895.* Consol. May 12, 1902. Nov. 2. 1895.* Dec. 3, 1889.* Oct. 5, 1895.* Purch. Nov. 26, 1890. Dec. 3, 1889.* Merged Jan. 1,1902. Owned by D. AH. Chic., St. P., Minn. A Omaha . Georgia Colum., Sand. A Hocking. .. Tionesta Vallev ) Buckingham to Shawnee, 0 Sheffield Jet. to Duhrings, Pa \nchorage to Shelbyville, Ky Shelbv to Columbiana, Ala Shelbyville to Bloomfield, Ky Louisville A Nashville Alabama Mineral Louisville A Nashville !• Norfolk A Western Shelby's Iron Co.'a RR Shelbyville, Bloomfd A 0. . . Shenandoah Valley j Hagerstown, Md., to Roanoke, Va. . • Br. to Iron A Manganese Mines Litchfield to Hawleyville. Ct Denison to Sherman, Tex Shepaug,LitchfieldANor. .. Sherman. Denison A Dallas. . Sherman, Shreve. A So. Ry. . Ship Island, Ripley A Ken. .. Shore Line N. Y.. New Haven A Hartf . . . Missouri, Kansas A Texas. . . . Missouri. K:m. A Te.x. Rv Gulf A Chicago See Manual for 1901. p. 488 Middleton. Tenn., to Ripley, Miss. . . . New Haven to >New London, Ct In Louisville, Ky. N. Y.. New Haven A Hartf. . . Short Route Ry. Transfer. . Shreveport A Houston Shreveport to Logansport, La Shreveport A Red River Vy . Sibley Bridge Co Shreveport to Alexandria, La Louisiana Ry. A Nav. Co Atehison, Top. A Santa Fe Sierra Valleys Sierra Vv. A Mohawk Vy. . . . Silver City A Northern Silver Citv, Deming A Pac. . . Plumas to Clairville, Cal Whitewater to San Jow'. N. Mex rVming to Silver City. N. Mex Atehison, Top. A Santa Fe. . .. \tchison, Top. A Santa Fe. . .. * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. POOR S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 115 NAME OF OLD COMPANY. TERMINI OF COMPLETED ROAD AT THE TlME OF IT8 ACQUIRE- MENT. LENGTH IN AlILES. NAME OF COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY EXIST- ING COMPANY. Silver Creek & Dunkirk Springs, Oeala A Gulf.. Silver Creek to Dunkirk, N Y 8.71 75.08 38.50 12.23 96.00 129.10 1.28 7.01 5.20 1.00 18.98 17.31 56.83 8.70 5.98 16.48 70.09 136.66 1.00 17.50 17.50 270.00 241.11 18180 250.00 4.50 76.20 17.78 7.50 Lake Shore A Mich. Cent Savannah, Florida & Western. WestRy.Co.ofMex. (Ltd.). . Merged. Merged July 1,1901. Merged in 1892. Consol. Sept. 7. 18.53. Purch. Jan. 1, 1900. Purch. Jan. 1, 1900. Reorganized 1900. Purch. Dec. 28, I'JOO. Name changed in 18W3. Purch. April, 1891. Merged Aug., 1899. Consol. Sept. 22. 1892. Merged June 1. 1901. Merged Sept. 30, 1900. Proprietary road. Purch. Nov.. 1895. Purch. April 16, 1898. Purchased in 1894. Reorg. Jan. 13, 1900. See Manual for 1901, p. 368 •"liihoniru* Valley Keating Summit to Costello, Pa Si.iux City & Northern SiouxCity.O'NeUl & West'n. Sioux CityTer.Ry. & W'h'se. Sioux Falls Terminal Sioux Falh, Y. & Southw . . . Sl'itc Ridge & Delta See Manual for 1898. p. 669 See Manual for 1899, p. 670. In Sioux City, la Wilmar & Sioux Falls Wilmar & Sioux Falls Union Terminal, Sioux City. .. Great Northern Ry Yankton & Western Sioux Falls to So. Sioux Falls, S. D . . . Yankton to Pierson, S. D Slate Ridge to Delta, Pa See page 134 Northport to Port Jefferson, N. Y. . . . Clayton, Del., to Md. State Line Solomon to Bcloit, K n York A Peach Bottom Pitts., Shawmut & North Long Island No. Shore Br Delaware Smithtown & Port Jeffers. . . Sm\Tna & Delaware Bay Solomon RR Schweibing to Schwcibing Mills, Pa. . . Elizabeth to Woodbridge, N. J Aband. and track taken up ... Central RR of N J Sound Shore South & North Carolina South Atlantic & Ohio South Bound South Brooklyn RR. & Ter. . South Brunswick South Brunswick Terminal. . South Carolina Elliott's to Lucknow, S. C Bristol, Tenn., to Big Stone Gap, Va. Savannah, Ga., to Columbia, S. C. ... In Brooklyn, N. Y. Manchester ic Augusta Virginia A Southwestern . . Fla. Cent. & Peninsular Waynes ville to So. Brunswick, Ga. . . . Waynesville to So. Brunswick, Ga See Manual for 1895, p. 181 See Manual for 1S02, p. 240 See Manual for 1902 p 260 Abandoned 1899-1900 South Brunswick South Carolina & Georgia. . . . Southern Ry., Car. Div Reorg. Aug. 6, 1895. Reorg. May 13, 1894. Consol. July 1. 1902. Consol. July 1,1902. Consol. April 1. 1893. South Carolina & Ga. Ext.. . . South Florida So. Galveston & Gulf Shore. . See Manual for 1894, p. 731 In City of Galveston, Tex Savannah, Fla. A Western . . . Abandoned 1894-95 Winslow Jet. to Cape May. etc Carlisle to Pine Grove Furnace, Pa. . . . London Jet. to London Hill, Col April 28, 1898.* Consol. Aug., 1890. South Mountain South Park & Lcadville South Pittsb. & Tenn. Riv. . . South Range, N. G South St. Paul Belt RR South Sho'-eRy So. Vandalia & State Line. . . Gettysburg & Harrisburg. . . . Abandoned Termini not reported St. Paul Park to St. Paul. Minn St. Francois du Lac to St.Lnmbert.Que South Vandalia to Flatstone, N. Y. . . . See Manual for 1902 p 265 . 2.00 3.58 61.50 4.00 20874 Abandoned 1895-96 Burl., Cedar Rapids & Nor. . .. Quebec Southern Abandoned and track taken Purch. Feb. 16, 1901. Acquired Oct. 17. 1901. up Nov., 1899. Practical, merg. 1900-01. Merged. Consol. Mav 1. 1900. Oct. 1, 1894.* Purchased 1900. Aug. 23. 1895.* Merged June 6, 1901. Purchased. Merged Oct.. 1889. Purch. Feb. 1, 1902. Southeastern Dakota Southeastern RR. of S.C. ... Smthcastern (Canada) Southern Alabama Southern Central Fairfield Jet. to Bavne, N. D See Manual for 1901, p. 329 14.84 21.38 139.30 64.97 115.26 21.55 13.50 Northern Pacific Atlantic Coast Line RR. Co. . . Montreal & Atlantic See Manual for 1895, p. 962 See Manual for 1900. p. 418 Louisville & Nashville Stark to Buxton, la Chicago & Northwestern Nashville, Chat. & St. Louis. .. Southern Iron Co.'s RR See General Index Southern Kansas Southern Missouri & Ark Southern Oregon RR Co. . . . See Manual for 1888. p.' 942 Cape Girardeau to Hunter, Mo 841.52 92.40 2.00 39290 2,705.60 167.45 ' 122.83 238.87 100.41 6.19 1.00 51.00 7.01 34.00 37.22 16.50 33.50 Atchison, Top. A Santa Fe. . . S. L.. Memph. A Southeast.. . . Abandoned 1896-97 Southern Pacific (of Ariz.) . . Southern Pacific (of Cal.) . . . So. Pacific (of New Mexico).. Southern Ry. in Indiana Southern Ry. in Kentucky. . Southern Ry. in Mississippi. . Southern Rv of Texas See Manual for 1902, p. 580.. . . See Manual for 1902, p. 580 Ariz. Line to E. bank Rio Grande No road built bv this company See Manual for 1902, p. 228 See Manual for 1901, p. 384 Tex. Line to Pan Handle City, Tex ... N. Y. State Line to Mass. Line Southfield to Southfield Furnace, N. Y. Heartpine to Greenville, Fla Sioux Falls to So. Sioux Falls, S. D. . .. Smithton to Pike Citv, Ark Consol. March 10. 1902. Consol. March 10. 1902. Consol. March 10. 1902. Proprietary line. Proprietary- line. Proprietary line. Absorbed Feb. 15. 1899. Purchased in 1891. Reorganized in 1902. Name changed in 1890. Reorg. Mar. 13, 1900. Absorbed Sept. 2. 1901. Merged May 20. 18%. Merged July'. 1901. Purchased in 1895. Purch. April 29, 1889. Julv 25. 1896.* Merged in 1900. Merged Sept. 1.1896. Southern Pacific RR Southern Pacific RR Southern Southern Southern Atchison, Top. & Santa Fe . . . Fitchburg Not operated since 1889 South Georgia & West Coast. . Southern Vermont Southfield Branch South Georgia S. Sioux Falls Rv.& R.T.Co. . Southw'n, Ark. A Ind. Ter . . Southwestern Alabama Southwestern Mineral Southwestern (Fla.) Southwestern RR of Ariz. . . Arkansas Southwestern Newton to Elba, Ala Savannah.Florida & Western . Missouri, Kansas & Texas. . . . Operations suspended El Paso A Southwestern Labette to Mineral City, Kan Green Cove Springs to Melrose, Fla. . . See Manual for 1902 p 1502 Spartanb., Unionv. & Col — Alton to Spartanburg, S. C 68.00 2.18 112.20 50.05 14.33 3.18 11.56 ' ' ' 8.66 7.66 11.20 2.20 7.56 Asheville A Spartanburg Boston A Albany Mars'l Jct.,AVash.,to Idaho Line & brs. See Manual for 1900, p. 584 Hauser Jet. to Cceur d'Alene, Id At Springfield, Mo Termini not reported Termini not reported Spokane & Seattle Northern Pacific Northern Pacific. Spokane Falls & Idaho Springfield Connecting Springfield & Sardinia Spring Garden Connecting . . Btacvville Abandoned in 1886 Illinois Central Absorb. Nov. !. 1807. Merged Oct. 1.1890. Consol. Aug. 10. 1893. Merged Nov. 26. 1895. Merged July 1.1901. Stnmfnrd A New Canaan. . . . State Line New Canaan to Stamford, Ct Uniontown to Smithfield, Pa., and br . Pee statement of B. * S. RR.O> 111. State Line to Clarke Jet.. Ind N. Y., New Haven & Hartf . . . Fairm., Morgan & Pittsburg. . Buffalo A Susquehanna South Chicago & Southern . . . State Line State Line A Indiana City. . . *Acxjuired by purchase at foreclosure or reorganized after foreclosure sale on date give 116 POOR'S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. NAME or OLD COM PANT. TERMINI or COMPLETED ROAD AT THE TIME or ITS ACQUIRE- MENT. LENGTH IN MILES. NAME or COMPANY BT WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY KXIST- ING COMPANY. Statesville to Taylorvillc N C 20.36 16.27 12.50 4.00 14.08 Southern Purchased Aug. 1894. Purchased K-b , 1891 Merged .lune 30. ISW. Rcorg. June 1, 1895. Om^l. Jan. 1. 1902. Merged 1901-02. Proprietary rood. Purch.Jan. 3, 1901. Merged May, 1894. Stewart. Floral Park to Bethnage,' N. Y., 4 br. . Whitebcar to Stillwater, Minn Long Island Stillwater A St Paul St. Paul A Duluth Noland Land A Tr. Co Stone Mt. HK. A Quarry Co . St.my (love * CaUkill Mt... . Ulster A Delaware . . . Hanccville to Stouts Mountain, Ala. . . Goshcn to Findlev. Mich See Manual for 1900, p. 545 Harlem River to 177th St. A 3d Ave. .. Suffolk, Vn., to Terminus and brs In Texas; lumber road. Termini not reported See Manual for 1898, p. 1 172 Wateree Jet. to Sumter, S. C See Manual for 1900 p 094 5.95 35.81 41.00 3.74 35.00 7.50 16.00 0.75 15.81 55.88 43.44 4.46 Louisville A Nashville Lake Shore A Michigan So ... St. Louis Southwestern Manhattan Sturgis, Goshcn 4 St. Louis. . Stuttcart A Arkansas Riv. . . Suburban Rapid Transit Suffolk Lumber G>.' s RR . . . Sulphur Lumber Co.'s RR. . . Summervillc 4 St. Johns. . . . Summit Branch RR Sumter A Wutcrec River. . . . Sunburv 4 Lewiston Ry. . . . Sunb'y,' Hazlet. A W'barre.. . Suncook Vy. Extension Superior Belt Line A Term. .. Superior Short Line Abandoned March 31, 1894. . . Abandoned Abandoned. Southern Ry., Car. Div. . . . Absorbed'itec."3i.'i602.'" ConsoL June 1, 1900. ConsoL June 1, 1900. Proprietary road. Purchased in 1894. Merged Aug. 1,1895. Merged Aug. 1,1895. Consol. March 26. 1901. Consol. April 1. 1901. Merged April, 1896. Consol. Sept. 7, 1893. Schuylkill A Juniata Sunbury to Tomhicken, Pa Pittsfield to Centre Barnstead N H . Schuylkill A Juniata Concord A Montreal New Duluth, Minn., to Superior, Wis. . 11.09 8.28 2.60 25.00 10.00 24.01 Northwestern CoaL Chic., St. P., Minn. A Om Chic., St. P., Minn. A Om .... Beech Creek Extension .... Superior Sht. L. Ry. of Minn . Susquohnnnn A Clearfield... . Kusquehanna A New York . . Suspen. Bridge A Krie Jet. . . Susouch'inm Keating to Karthaus, Pa Gaines, Pa., to N. Y. State Line E. Buffalo Jet. to Suspen. Br., N. Y. . . Buffalo A Susquehnnna Erie CostellotoHnll. Pa. . . 12.65 44.75 6.00 45.49 17.11 13.50 ll'.SO Suwannee River 'See Manual for J895. n. 201 Operations suspended Syracuse A Baldwinsville — S>Tacuse. Ontario A N. Y. . . Syrac., Pheenix A Oswego. . . Tacoma A Columbia River. .. Tac. A L. Citv RR. A Nav. . . Tac.. Lake Park A Col. Riv. . Tacoma.Olymp.A Orny's H. . Tacoma.Orting A S* eastern. . Talledega A Coosa Valley. . .. Tallahassee A Northern Baldwinsville to Amboy, N. Y Syracuse to Earlville, N. Y Oper. susp. in July, 1892 West Shore Consol July 2 1891 Woodards to Fulton, N. Y Rome, Watert. A Ogdensb. . . Abandoned .... Merged Aug. 7, 1890. Tacoma to Terminus No road built by this company Tacoma to Lake Park, Wash See statement of Nor. Pac. Rv. Co. . . . Tacoma A Columbia River. . .. Tacoma A Columbia River. . .. United RR 's of Wasli Purchased. Sept., 1896.* Orting, Wash., to Puvallup River J Talladega to Pell Citv. Ala 1 Br. : Ragan to Ore Beds 10.61 26.90 2.70 40.00 21.00 22.50 13.33 29.00 Northern Pacific Merged Sept. 1, 18%. Oct., 1890.* j- Birmingham A Atlantic Road abandoned 1891-92 . . Tallahassee Southeastern. . . Tamaroa A Mt. Vernon Tampa A Thonotosassa. .... Tavares, Apopka A Gulf. . . . Tavares, Orlando A Atlantic. Taylor's Falls A L. Superior . Tecumseh Tennessee A Coosa Tallahassee to Wacissa, Fla Operations suspended. . . Tamaroa to Mt. Vernon, 111 . . Wabash, Chester A West'n.. . . Savannah, Florida A Western. Tavares A Gulf Purchased 1893. Merged July 1.1901. Reorg. Jan., 1890. Purchased 1894. Merged June 30, 1899. Purch. March, 1900. Purchased. Purch. July 1, 1889. Tampa Jet. to Thonotosassa, Fla Tavares to Clermont, Fla Orlando to Oviedo, Fla Wyoming to Taylor's Falls, Minn 15.67 12.50 Florida Cent. A Peninsular.. . . St. Paul A Duluth Shawnee to Tecumseh, 0. T 5.50 37.50 15.30 12.00 135.60 4.00 10.16 12.00 2.66 34.00 10.00 38.00 72.00 Choctaw, Okla. A Gulf Nash., Chattanooga A St. L . . East Tenn., Ya. A Georgia. . . . Not in operation. Louisville A Nashville Tennessee A Ohio Rogersville to Rogersville Jet., Tenn. . Spring Citv to Jewett, Tenn Tennessee Central Tennessee Midland. Tenn. Riv., Ashv. A Coosa . . Terminal . . Memphis to PerrwiUe, Tenn Whitney to Ashville. Ala Chappell to Union Stock Yard See General Index See Manual for 1898,p.527. Proprietary road. ConsoL Oct. 1. 1889. Consol. July 30. 1889. Purch. Nov., 1894. Reorg. July, 1889. Vame changed in 1899. Acquired Feb. 9. 1901. Merged May 1. 1897. Merged June 1, 18%. Merged Dec. 22, 1899. Abandoned Michigan Centra) Terminal RR. Assoc. of St. L. Terminal RR. Assoc. of St. L. Kans. Citv, Pittsb. A Gulf Texarkana A Fort Smith Tcxark., Shrevep. A Natchez Texas A Pacific Terminal RR. (East St. L.) . Terminal RIU St. Louis. Mo.) Texnrkana A Fort Smith Texarkana A Northern Texarkana A Shreveport Texark.,Shrevep.A Natchez.. Tex.. Louisiana A Fasten). . . Texas Transportation. . . . Texas Trunk At St. Louis. Mo Texarkana to Winthrop, Ark. Texarkana to Red River, Tex. Texarkana to Loma Texarkana, Ark., to Shreveport, La. . . Conroe, Tex., to end of track Houston to Clinton, Tex. Dallas to Cedar, Tex 29.60 7.90 51.68 52.00 5.00 Gulf, Col. A Santa Fe Texas A New Orleans Texas Western Tiadaghton A Fahnestalk. . . Tilton A Bclmont Tionesta Vv. A Salmon Ck . . Toledo A Michigan Belt Houston to Secley, Tex Tiadaghton to Fahnestalk Creek, Pa. . Abandoned Abandoned I:::::::::::::::::::::: Tilton Jet. to Belmont, N. H Kellettville to Ross Run, Pa 4.17 6.00 3.05 385.19 6.00 36.60 40.00 298.80 4.20 78.00 48.70 15.00 62.00 450.72 6.00 Concord A Montreal Sheffield A Tionesta, Merged March. 1901. Merged June 1, 1901. Merged Jan. 29. 1897. Merged June 6, 1890. May 23,' 1894.'*"" Merged Jtilv 1.1890. "epl. 21, 1895.* Acquired May 1. 1899. Purch. Nov. 1. 1892. Rcorg. Ma v 28, 1889. Purch. Dec. 1. 1890. Reorg. Jan. 1. 1890. Reorg. July, 1900. See General Index. Toledo Can So A Dct Toledo A Northwestern. Toledo A Ohio Northern. . . . Toledo A South Haven Tol., Ann Arbor A L.Mich ToL. Ann Arbor 4 No. Mich.. Toledo Belt See Manual for 1891 Fayette, 0.. West Lawton to South Haven, Mich Owosso to St. Louis Toledo, 0.. to Frankft, Mich . A bra. . In Toledo. O. . Chicago A Northwestern Abandoned South Haven A Eastern Tol., Ann Arbor A No. Mich. . Ann Arbor. . .... Toledo. Columbus 4 Cin. . . . Tol., Columbus 4 Southern. . Toledo. Findlav 4 Springf. . . Toledo, Saginaw A Mack. . . . Toledo. St. L., 4 Kan. City. Toluca 4 Eastern Toledo to Ridgewav, Col Toledo A Ohio Central Toledo. Col. A Cincinnati Bowling Green fin.. Saeinaw A Mack Toledo, St. Louis A Wost'n . . . Toluca, Marquctte A North'n. Toledo to South Findlav. O Bowling Green to No. Baltimore, 0. . . Durand to West Bav Citv. Mich. . . Sec Manual for 1900. p. 312. ... Toluca to Rutland 111. * Acquired by purchase at foreclosure or reorganized after foreclosure sale on date given. POOR'S MANUAL OF RAILROADS. LIST OF RAILROADS MERGED IN OTHER LINES— Continued. 11? NAME OF OLD COMPANY. TERMINI OF COMPLETED ROAD AT THE TIME OF ITS ACQUIRE- MENT. LENGTH IN MILES. NAME OF COMPANY BY WHICH ACQUIRED, OR TO WHOSE STATEMENT REFERENCE SHOULD BE MADE. WHEN AND How ACQUIRED BY Kxisr- INO COMPANY. Toms River & Barnegat Toms River & Waretown Tonawanda Valley & Cuba.. . To|>eka, Ockmulgee & Gulf. . Toms River to Barnegat, N. J 14.71 14.83 33.00 16.00 52.00 5.00 Central RR. of New Jersey. . . Central RR. of New Jersey. . . Proprietary road. Merged in 1888. Jan. 19, 189J.» Toms River to Barnegat, N. J Attica to Freedom, N. Y Road abandoned Topcka, Salina & Western. . . Tu|)cka, West. & Maysville. . j Council Grove to West Line, Dick- 1 Kan.&CoLPac Consol Dec. 27, 1890. 1 Aband'd; tr. taken up 1892-3. See Dept of St. Rys Tower & Soudan Tredegar Mineral Jacksonville to Tredegar Jet., Ala. . . . Morrisville to Bucks Co. Line, Pa 4.00 15.02 East & West . Merged 1899-1900. Trenton Cut-off. Pennsylvania . . . Tren., Lawrencev.& Prince'n Trinity Valley Trenton to Stony Brook, N. J Dodge to Oakhurst, Tex 9.59 6.00 16.00 17.52 8.00 10.00 10.24 N J.&Pa.Tr.Co.— St.Rys.. Trinity Valley Southern . . . Trout Run Troy, Saratoga & Northern. . Tucson, Globe & Northern . . Tuifl'n, King& Fairchance . Turbotville & W'rasport. . . . Turtle Creek Valley. Tuscaloosa Belt Tyler Southeastern Cammal to Pump Station, Pa ) Saratoga to Saratoga Jet., N. Y. . . . 1 Schuyler to Schuyler'le Jet., N. Y. . . Tucson, Ariz., northward Tunnelton to Kingwood, W. Va Cammal & Black Forest [ Fitchburg Merged in 1893. Purch. June 1, 1887. Abandoned West Virginia Northern Name changed in 1895. Consol. Feb. 1. 1893 Merged May 31, 1893. Rvs. Consol. Oct. 6, 1899. No road built by this company. Central Penna. & Western Pennsylvania See General Index — Dept. St. St. L. Southw'n Ry. of Tex. . . Baltimore & Ohio Stewart Sta. to MurraysvUle, Pa At Tuscaloosa, Ala Tyler to Lufkin, Tex 6.44 2.80 88.60 2.00 Tylerdale Connecting Tylerdale, Pa., to Jet. B. & 0. RR Tyrone & Lock Haven Bald Eagle Valley I Ultima Thule, Arkadel- 1 28.00 1.28 915.25 225.52 10.35 9.05 3.50 5.18 66.00 Purchased in 1901. Consol. Oct. 1, 1889 Reorg. Dec. 20, 1S98. Merged Nov. 1, 1898. Consol. Oct. 27, 1890. I phia & Mississippi Riv. | Union Depot Co. (St. L..Mo) Union Pacific, Denv. & Gulf.. Union Pac., Lincoln & CoL . . At St. Louis, Mo Term.RR.Assoc.ofSt.L.... Colorado & Southern See Manual for 1898, p. 210 Salina to Oakley, Kan Union Elevated Elevated roads in Brooklyn, N. Y. . . . Baltimore to Bay View Jet Brooklyn Elevated Union RR. of Baltimore. . . . Union Ry. & Terminal Co.. . . See Manual for 1899, p. 795. . . Term. RR. Assoc. of St. L Kansas City Southern Consol. July 30, 1889. Purch. Jan. 1, 1902. Purch. in 1900. Merged Sept. 1, 1896. Consol. Aug. 1, 18X9. ConsoL Aug. 1, 1889. See page 611. ConsoL Aug. 1, 1889. Aprils, 1890.* Union Terminal United Counties State Line, Mo., to Argentine, Kan. . .. Iberville to Sorel, Que United RRa. of Washington.. Utah & Nevada Sundry lines in Washington See Manual for 1899, p 923 180.72 39.44 457.49 74.52 275.50 Northern Pacific Oreg. Short Line & Utah No . . Oreg. Short Line & Utah No. . Oregon Short Line Oreg. Short Line & Utah No . . Utah Central Utah & Northern. See Manual for 1889, p. 880 Utah & Pacific Utah Central Milf ord, Utah, to Nev. State Line See Manual for 1889, p. 923 . . . Utah Western See General Index Utica&UnadillaVy 0.75 Dissolved Aug. 29, 1894 Vallev 16.77 88.00 9.00 1.05 15.00 10.00 20.00 6.96 Delaware Light & Street Ry ) Pasadena & Mount Lowe. . Paterson Ry Larchmont Horse Lawrence & Reading St. . . Leavenworth & Lansing. . . Leaven worth Electric Leominster & Clinton Lewiston Con. Bridge Co . . Lewiston.Win. & Augusta. Little Falls & Herkimer St. People's St.(Centreville.Ia) Dhiladel. & Bristol Pass. . . Port Chester Street Port Dalhousie, St. Cath- ) Lorain & Cleveland Dortland City & Oregon . . . ^ortsmouth & Yarmouth 1 Los Angeles & Pasadena. . . Louisville Anchorage & Pewee Vy Elec ladford El. Light & Pow. . Lowell & Suburban Low., Lawrence & Haver. Lynchb. & Rivermont St. . Lynchb. El. Ry. & Light . . lapid Trans. Co. of Ohio. . Redlands Street lichmond & Manchester. . lichmond Pass. & Power. . Richmond Traction Macon Consolidated Street Macon Elec. Light & Ry.. . Ma'lison Electric lichmond & PetersburgEl. lichmond (Ind.) Traction. Rochester Street Mahoning Valley Mahoning Vy. Southeast . . Marion Transit Rochester & Lake Ontario. Rockford Ry. Light & Pow. Rockland County Trac. Co. St Charles Street Market Street Martha's Vineyard Metropolitan (Wash.) Metropolitan St.(Kaa.Citv) Milford. Holliston & Fra- S. L., Bellev'le & Suburb . . Salem Light & Trac. Co ... Salt Lake Rapid Transit. Sandusky & Interurban El. Sand., Milan & Norw. El... Sandusky, Norwalk & So. . San Fran. & San Ma TOO. . . . Milford Street Mill Creek Vallev Street. . . Millville Rapid Transit Min. Ridge & Niles Trac. . . Mississippi Valley Trac.. . . Mobile Street Santa Ana & Orange Monongahela City Mountain Lake Electric. . . Mt. Troy & Reserve Town- ship Savannah Trask, Spencer & Co New York, N. Y., and Albany, N. Y. Underwood, H. B., & Co Philadelphia, Pa. Text 1711 23 United States Trust Co New York, N. Y. Universal Safety Tread Co New York, N. Y. Text 171] Wason Mfg. Co. (P. O. Address, Brightwood, Mass.) . .Springfield, Mass 1 4 Webb & Prall Xe\v York, X V. WYstinghouse Air Brake Co Pittsburgh, Pa. 1! 7 Williams, John L., & Sons Richmond, Va. 17 Wilson, R. T., & Co New York, X. Y. Wyckoff, A., & Son Co Elmira, X. Y. Text 1 7( WyomingShovel Works (See alsntfxtpp. 1647 and 1660) Wyoming, Pa. Text 161.' ttec also Classified Index to Advertisers, pages 1677 to 178O, inclusive. iO-ALWAYS REFER TO ADVERTISEMENTS FOR LOCAL ADDRESSES. 129 POOR'S BUREAU •OF- Information and Investigation, Conducted in connection with and as an adjunct to Poor's Manual of Railroads, WILL FURNISH UPON ORDER DETAILED INFORMATION RELATIVE TO NEW OR PROJECTED RAILROADS, ANALYSES OF RAILROAD AND OTHER REPORTS, STATISTICS OF STEAM, ELECTRIC, CABLE AND HORSE RAILWAYS, ADVANCE INFORMATION RELATIVE TO RAILROAD REPORTS, ETC.; OR WILL MAKE FULL AND COMPREHENSIVE INVESTIGATIONS INTO RAILROAD MORTGAGES, BONDS, LEASES OR OTHER CONTRACTS. Special attention will be given to the preparation of Historical State- ments of existing or defunct corporations ; to investigations into the value of old railroad bonds, and to the preparation of statistical exhibits designed to show the value of railroad securities. Besides this, investigations will be mado at any time through official channels into the status of new projects, and re- ports made thereon. Proceedings in foreclosure or reorganization will be care- fully followed, and all facts relating to such proceedings noted for reference. TERMS UPON APPLICATION. Address JOHN P- ME ANY, Manager, 68 William Street, New York, N. T. 130 ENGINEERING COMPANY OF AMERICA 74 Broadway NEW YORK ENGINEERS IN CIVIL, MECHANICAL, ELECTRICAL, HYDRAULIC FORESTRY, METALLURGICAL AND MINING DEPARTMENTS PLANS, SPECIFICATIONS AND SUPERVISION OF INSTALLATIONS OF PLANTS OF ALL KINDS Examination, Reports ana Recommendations on existing: proper- ties, with a view to reducing cost of maintenance, production and operation. Reports giving the technical and commercial possibilities of Enterprises, Power Plants, Mines, Smelters, Steam and Electric Railways. 159 La Salle Street CHICAGO, ILL. BRANCH OFFICES: CHARLOTTE, N. C. DENVER, COL. INTRODUCTION TO POOR'S MANUAL FOR 1903. RAILROADS OF THE UNITED STATES IN 1902. GENERAL EXHIBIT FOR FISCAL YEAR. Length of Railroads Completed on December 31, 1902 203,131.61 miles. Of which Completed to Close of Fiscal Years: Reporting Traffic Statistics, Earnings, etc., complete 195,193.67 m. Reporting Gross Earnings, but not Traffic Operations 475.90 m. Not Reporting Operations 4,015.07 m. — 199,684.64 miles. Completed since Close of their Fiscal Years 3,447.97 miles. Not Increaseof Mileage of all Railroads in the United States in the Calendar Year 1902.. . 4,364.53 miles. Net Increase of Mileage of Railroads reporting traffic operations in the Fiscal Year 1902... 3,246.95 miles. COMPARATIVE STATEMENT OF LIABILITIES AND ASSETS OF THE RAILROAD COMPANIES OF THE UNITED STATES (CLASSIFIED) : 1901 1902 lesof Line Liabilities: pital Stock. . . . Railroads Supplying Complete Returns 191,946.72 I 5,827,403,354 Reporting dross Earn- ings but not Traffic Operations 466.13 S 88.451.485 Total Reporting Gross Earnings. 192,412.85 $ 5,915,854.839 •Total of all Railroads. 195,886.90 S 5,978,796,249 Railroads Supplying Complete Retiirns. t!95. 193.67 % 5,910,659,809 Reporting Gross Earn- ings but not Traffic Operations. 475.90 S 89,306,287 Total Reporting Gross Earnings 195,669.57 $ 5,999,966,096 Total of all Railroads. 199,684.64 * 6.078.290 59f> nded Debt .... funded Debt. . . rrent Accounts :'e*OtlierFds 3nt and Loss. . . 5.934,299,122 308,499,714 449,547,173 139,501,630 469,917.074 68,498,841 2,955,192 5,520,971 4,169,353 7,731,185 6,002,797.963 311.454,906 455,068,144 , 143,670,983 477,648,259 6,035469,741 312225,530 456.798,012 143,670.983 478,664,729 6,350,554,972 304,677.028 471,474,670 135,394.227 546.911.221 69.787,867 3,942,592 5,678.377 5,285,587 9,029.880 6,420.342,839 308,619,620 477,153,047 140,679,814 555,941,101 6,465,2 1 934,413,448 Passengers Carried. . . Passengers — Mileage.. Tons Freight Moved... TonsFgt. Mvd. 1 Mile Total Revenue Trains . . J Earnings. — Passenger — ) on ($396,513,412 Freight ..... V 197,438.48^ 1,197,212,452 Other ....... \ Miles RR. | 115,715,822 Earn.448.88M.RR.Class4(seep. iv.).. .. 11,373,214 Total Traf. Rev. (197,887.36 miles). $1,720,814,900 Operating Expen. ( 197,887.36 miles) . 1,160,788,623 Net Earnings (197,887.36 miles) ..... $560.026,277 Other Receipts ..................... 77,663,48:1 Total Avail. Rev. (197,887.36 m.) ..... $637,689,760 On f 655,130,236 197,438.48) 19,706,908,785 Miles 1,192,136,510 RR. I 156,624,166,024 Payments from Available Revenue: Interest on Bonds .................. $222,614,909 Other Interest ..................... 9,733,560 Dividends ........................ 151,046,537 Rentals— Interest ..... $40,622,542 Dividends ____ 27,154,215 Miscellaneous .19,970,212— 87,746.969 Miscellaneous ..................... 57,408,351 Total (197,887.36 miles) .......... $528,523.326 Balance. — Surplus over fixed charges and miscellaneous payments ......... $109,166,434 * Including lines constructed, but not reporting operations, and those in course of construction, not yet brought into operation (see Class 6, p. iv.). t This is 2,244.81 miles greater than the mileage owned (195,193.67), this excess representing "track- age." Press of The Winthrop Press, 32-34 Lafayette Place, N. Y. ii Statement showing the niilr.-igr, equipment, liabilities and assets, traffic operation:?, earnings, intrn-st and dividend payments, etc., etc., of all the Steam Railroads, 1895 to 1901!, inclusive: 1902 1901 1900 1899 1898 1897 1896 1895 Mileage of RRa. 2dTr.,Sid.etc. Total Track . Strel Rails inTr. Iron Rails in Tr. Locomotive*. . . Cars -Passenger. Bag.,Mail,etc. Freight. Tot. Rev. Cars.. Liabilities: Capital Stock . . Bonded Debt . . Unfunded Debt. Current Accts. . Sinking 4 Other Funds. Total Liab... Excess of Assets Total Assets: CostofRR.AEq. Other Invest. . Milts. 199.6St.04 75.150.75 Miles. Utt38ftflO 70.105.45 Miles. 192,1(51.93 65,691.29 Miles. 187,781.08 068173 Miles. 184,894.33 60,344.54 Miles. 183.547.07 58,153.69 Miles. 181,394.17 57,335.77 Miles. 179,821.16 55.209.fO 274,835.39 257,437.11 17,398.28 No. 41.0-ji; 27,364 9,726 1,503.949 265,992.35 246,811.60 19,180.75 No. 39,729 27,144 8,667 1,409,472 257.853.22 23x.464.13 19,389.09 No. 38,065 26,786 8,209 1,350,258 250,362.80 228,975.54 21,387.26 No. 37,245 26,184 8,121 1,328,084 245,238.87 220,803.87 24,435.00 No. 36,746 25,844 8.049 1,284,807 241,700.76 215,657.83 26,042.93 No. 36,410 25,654 8,180 1,234,972 238,729.94 210,290.46 28,439.48 No. 36,388 24.940 7,880 1.245.640 235,n 20.;.; .'- No. »;.i; o : i.4 y 1.230?*' 1,541,039 * 6.078.290,596 6,465,290,839 310,345,867 479,957.935 140,679,814 1,445,283 1 5,978,796,249 6,035,469.741 312,225,536 456,798,012 143,670,983 1,385,253 1 5,804,346,250 5,758,592,754 328,963.335 422,262,823 114,800,860 1,362,389 $ 5,742,181,181 5,644,858,027 305,777,858 377,497,070 95,013,713 1,318,700 1 5,581,522,858 5,635,303.594 368,182.584 383,682,168 Previous to 1,268,806 s 5,602,964.449 5,534,432,492 380,609.705 397,928,861 1899, includec 1,278,460 $ 5,373,187,619 5,461,850,798 344.499,909 389,313,919 witliProBtan 1,265.1«J .5.181.:. •*>.t>48.^^H 418,- 429.331.9X1 •ILoss. 13,474,505,051 479,542,767 12,926,960,521 381,068,511 12,428,966,022 339,944,815 12,165,327,849 291,946,163 11,968,751.204 316.616,498 11,915,995.507 307,793,194 11,568,858,305 363,289,063 11,677,901,614 358,622.7)1 13.954,107,818 10,865,683,376 2,345,515,940 13,308,029,032 10,717.752,155 1,976,548,412 12,768,910,837 10,484,430,907 1,766.493,090 328,994,626 188,992,213 12,457,274,012 10,254,251,458 1,708,507,108 325,725,460 168,789,986 12,285,367,702 10,256,275,585 1,594,565.979 265,264,972 169,261, 16e 12.223,788,701 10,304,221,478 1,519,550,500 225,524,124 174,492,599 11.932,147,368 10,079,496,420 1,457.650,210 232,473,770 162.520,968 12,036,524.3'->5 9,868.102.973 1,683!" 259,aMH 224.7 Sundry Assets. Current Accts. . Total Aseete.. Miles RR Oper.. Rev.Train Mil'e Passenger. . . . Freight. . . 455,053,773 287,854,729 390,112,441 223.616,024 13,954,107,818 Miles. 197,887.36 403,213,178 508,210,140 22,990,130 13,308,029,032 Miles. 194,974.96 391,543,708 505,468,619 20,812,985 12,768,910,837 Miles. 191,861.96 373,226,581 513,667,388 20,702,172 12,457,274,012 Miles. 186,590.38 355,106,833 534,391,846 20,996,771 12,285,367,702 Miles. 184,532.61 344,761,142 542,824,509 17,424,581 12,223,788,701 Miles. 181.874.07 342,464,408 500,326,372 . 15,235,049 11,932,147,368 Miles. 180,891.19 337,641,115 497,248.291 15.785.4S 12,036,.52U'5 Milct. 179.153.(I 326.1X4.59fi 491.410.s20 15.4.57.9J9 Mixed Total... 934,413,448 655,130.236 19,706,908,785 1.192,136,510 15e,«2i,16«,021 1 396,513,412 1.197,212,452 127,089,030 917,825,312 600,485,790 17.789.669.92o 1,084,066,451 1*8,959,303,192 $ 360,702,686 1,126,267,652 125.478,488 907,596,141 584,695,9*5 16,313,284.471 1,071,431,919 141,162,109,113 $ 331,402,816 1,052,835,811 117,456,751 910,495,450 537,977,301 14,859.541,965 975,789.941 126,991,703,110 $ 297,559,712 922,436,314 116,100,353 905,010,232 514.9S2.sxx 13.672,497,664 912,973,853 111,566,173,191 $ 272,589,591 868,924,521 108,044,607 858,026,179 504,100,525 12,494.9»S.OOC .788,385,448 9^,842,569, 150 $ 253,557.936 780,351,939 98,956,751 850,674,844 535,120,756 13,054,840.243 773.868.710 93,885,853,634 $ 265,313,258 770,424.013 89,894,754 833,a53.35S 529.758*1: 12,(i09.08u| 7.55.7 X8,567,770,8ll $ 2tJO.929.74l 743.784.45 87!681J|J. Pass Carried. . . Pass. Mileage. . Tons Fgt Mvd. Freight Mileage. Tr Earn.— Pass Freight. . Miscellaneous Total.. 1.720,814,900 560.026.277 77,663,483 1,612,448,826 520.294.727 68,368,814 1,501,695,378 483,247,52(1 67,772,934 1,336,096,379 423,941,689 55,619,405 1,249,558,724 389.6W.474 104,536.904 U32.860.62C 342.792.030 97,631,314 1,125,632,025 332.7Wi.97! 104,934,911 1.092.395.417 ' 323.196.ll 113.7 Net Earnings*. Other Receipts . Total Avail.Rev. Payments: Int on Bonds. . Other Interest.. Div. «n Stock. Miwollaripous . Rentals -Int.. Dividends.. . Miscellaneous Total Pay'ts. Surplus 637,689,760 222,614,909 9,733,560 161,019.637 57.40S.351 40.022.542 27.154.215 19,970,212 588,663,541 215,191,176 7,327,334 132.102.935 36.235,397 39,127,204 24,724,348 22,586,953 551,020.460 214,199,502 6,315,028 119.2SX.X79 46,153,433 30,248,304 21,054,774 21,200,651 479,561,094 208,957,209 6,071,451 88,076,393 30,569.447 30.221,704 :>0.<.I5.VX5!> 20,010,270 494,203,378 237,133,099 5,069,290 94.937.52C 35,681,080 1 62,740.145 f Previous to 1 tabulated i ' ingnfictiti 440,423,344 234,454,578 5,776,727 83,680.040 29,123.068 59,525.937 899, notsegreea in! retabulnted ous item ' Tecei 437,701,890 243,287,730 8,034,840 81,528.1.54 34,297.C>ar 59.238.517 ted; total amour oreachcorapaji ptsfrora other f 436,964.52) 239.0! 528,523. 32»> HX.i.lM,. |:;4 477,355.347 111.308.194 458,460,571 92,559,889 410,802,339 6X,6!»S,755 435.561, 140| 412.560.350 58,642,238 27,862,994 426,386.876 11,315.014 * Lrae taxes. lii Statement showing, by groups of States, the mileage, equipment, liabilities and iisst-fs, traffic operations, earnings, interest and dividend payments, etc., etc., of all [he Steam Railroads in the United States in 1902: New England Group. Middle Group. Central Northern Group. South Atlantic Group. Gulf and Mississippi Vy. Group. South- western Group. North- western Group. Pacific Group. ! -age of Railroads. ilings.etc. otal Track ^ •! H:iils ill Track.. ii Track.. cimotives -> nger. . . Bag .Mail, etc. Freight 'otal Rev. Cars. . . Liabilities: 1 tital Stock Miles. 8,020.07 5,138.62 Miles. 24,403.98 21,302.18 Miles. 55,932.51 24,125.99 Miles. 25,059.85 4,926.85 Miles. 11.841,49 2.741.23 Miles. 37,537.38 8,599.72 Miles. 2fi.860.62 6,309.29 Miles. 10,028.74 2,006.87 13,158.69 12,309.26 849.43 No. 2.452 3,248 782 45,289 45,706.16 42,983.89 2,722.27 No. 12,052 8,872 2,898 473,359 80,058.50 74,312.10 5,746.40 No. 11,536 6,395 2,701 470,862 29,986.70 27,854.35 2,132.35 No. 3,595 2,271 777 122.109 14,582.72 14,178.63 404.09 No. 1,649 929 373 58.224 46,137.10 43,609.69 2,527.41 No. 5.150 2,526 973 161,531 33,169.91 31,240.86 1,929.05 No. 3,463 1,805 088 126.809 12,035.01 10,948.33 1,087.28 No. 1.729 1,318 534 45.766 49,319 $ 291,833,275 230 860 434 485,129 $ 1,663 531,993 479,958 $ 1 341 197 188 125,157 $ 596,126.450 503,357,275 48,491,784 31,327,687 7,452,196 59,526 $ 192,730,334 256,735,799 9,174,133 16,354,686 4,516,356 165,030 $ 994,256,375 1,012,551,202 45,865,581 61,318,501 8,634,538 129,302 $ 674.441,079 966,186,616 38,675.421 47,534,424 14,769,646 47,618 $ 324,173.902 297,432,543 9,787,782 9,182,595 MM» idedDebt 1,716,077,647 1,482 089 323 'unded Debt rent Accounts. . . k. & Other Funds 'otal Liabilities . . «ss of Assets . . . potal 9,311,883 25,511,194 6,841,191 101,215,232 180,635.572 30,983,309 47,824,051 108,093,276 61,035,922 564,357,977 3,698,443,753 3,040,239,760 1.186,755,392 479,511,308 22,133,219 2,122,626,197 43,146,287 1,741,607,186 65,284.720 641,023.478 45,398.665 25,413,798 116,866,699 140,782,618 20,516,761 589,771,775 463,309,465 83,281,525 22,039,315 21,141,470 3,815,310,452 2,588,072,706 982,089,508 152,400,299 92,747,939 3,181,022,378 2,657,295,151 1,207,272,153 1,056,017,687 501,644,527 413,617,941 53,076,882 17,970,533 16,979,171 2,165,772,484 1,769,985,915 284,764,448 67,282,075 43,740,046 1,806,891,906 1,283,428,193 439,455.262 58,145,358 25,863,093 686,422,143 633,956,318 27,551,412 4,017,073 20,897.340 Assets: tofRR.A Equip, icr Investments.. 357,633,680 113,925,907 52,167,634 117,663,217 19,273,213 14,318,036 rent Accounts.. . 'otal Assets esofRR.Oper. .. Ion Mileage: 589,771,775 Miles. 7,718.07 31,949,003 20.355,977 1,122.854 3,815,310,452 Miles. 25,557.88 104,960,211 130,906,441 3,348,392 3,181,022,378 Miles. 58,309.08 125,961,069 166,454,831 4,293,367 1,207,272,153 Miles. 24,405.86 32,119,869 42,584,060 2,830,361 501,644,527 Miles. 10,264.56 15,262,445 26,542,197 2,103,924 2,165,772,484 Miles. 34,342.69 46,801,219 61,732,276 3,148,490 1,806,891,906 Miles. 25,541.69 30,240,695 41,196,891 3,339,372 686,422,143 Miles. 11,747.53 15,918.667 19,422.128 2,803.370 iVeieht fixed "•otal 53,427.834 112,955.845 1,973,710,270 51,269,015 4,312,247,710 35,454,695 50,912,067 7,864,241 239,241,544 264,315,847 5,970,839,261 296,709,267 144,912,355 5,287,672,425 77,534,290 30,479,690 1,255,633,494 43,908,566 16,346,989 599,014,065 44,578,120 6,095,752,106 $ 12,474,927 54,314,811 5,641,852 111,681,985 31,270,350 1,881,099,163 81,996,586 15,190,562,094 $ 43,160,473 153,961,221 16,781,777 74,776,958 20,805,256 1,542,602,515 70,235,985 14,081,777,346 $ 35,300,962 133,295,97'.) 10,611,870 38.144,165 34,065,886 1,196,359,306 20.847,353 5,131.195,797 $ 24,282.680 59,139,672 iMJM kisengers Carried., .isenger Mileage . . 18 Freight Moved, light Mileage ifficEarn. — Pass.. 418,722,4(59 50,507,177,597 $ 109,672,516 331,395,754 26,912,956 376,313,388 49,442,992,851 $ 108,005,556 339,475,877 38,564,908 73,230,337 11,860,536,181 $ 28,909,154 80,975,127 8,736,300 .Miscellaneous. . . . .Total 94,231,003 21,954,79-1 4,200,180 467,981,226 149,232.103 34,706,792 486,048,341 146,197,51-3 13,570,648 118,620,581 41,417,362 2,413,835 72,431,590 20, 444,401 1,324,226 213,903,471 71,379,061 7,914,212 179,208,811 79,373.928 9.773,687 88,391.877 30,027.111 3,759.903 t Earn. .less Taxes aer Receipts , 405,290 830 Cost of RR. and Equipment 10,548,983,498 2,316,325 19,468,013 167,807,353 4,319,416 122,788,771 Ki>.i.-,,i;s3 370 Miles of Railroad Operated 196,590.86 57.41 558.29 448.88 231.92 197,887.36 PuMCTigm Carried 646950540 8179696 655130236 Passenger Mileage 19,1159,901,575 47,007,210 19,706,908.785 TCHH Freight Moved 1,174,314,912 14,250,120 El 3 571 478 1,192 136510 Freight Mileage 150,232 464,437 3(14,098,639 11 27,002 948 150024.106024 Traffic Earnings — Passenger S 395,961,757 $ 551,655 $ II Ks $ $ 1 396,513,412 Freight 1,193,127,257 3,573,241 >-i 511,954 1,197,212,452 Total, including Miscellaneous. . . 1,702,652,474 568,259 5,698,507 11,373,214 522.446 1,720,814,900 Net Earnings, less Taxes 552 570 00*1 76,605 2 22S 777 5,107.673 43,156 560,0. Receijrts from Other Sources 75,413,665 10,097 30,933 2,207,837 951 77,663,483 Total Available Revenue 627,983 731 86702 2259710 7 315 510 44 107 637,689,760 Interest on Bonds 259785279 45739 364050 3019633 22750 263 237.451 Dividends on Stock 176 000,860 23345 168,000 1,970 947 37600 178.200,752 Total of all Payments. 520561 488 78337 1558386 6 250 731 74384 528 523 326 Surplus 107 422 243 8365 701 324 1064779 D 30277 109 166,434 STATISTICS OF TRACK MILEAGE AND ROLLING STOCK EQUIPMENT. (Reviled Statement, omitting ail equipments of elevated city passenger railways.) Miles Miles Total Per Cent. REVENUE CARS. YEAR. Steel Kails. Iron Rails. Track (Miles.) Steel of Total. tives. Pas- senger. BaspK6; Mail and Express. Freight. Total. 1880... 1881 33,680 48984 81,967 81 471 115,647 130 455 29.1 37 5 17,949 19 911 12,789 13 947 4,786 4 976 539,255 648 295 556,930 667 218 ' 1882 66 611 74 267 1 Id S7M 47 3 01 889 14 934 5 554 730 435 750 933 1883. 78 411 70 690 149 101 52 6 03 405 16 230 "> Ms 778 663 800 741 1884 90 162 §6*050 156 414 57 6 •> 1 •;-,-{ HI fi )•} 5 911 798 399 820 954 1885. 98 013 go 493 160 506 61 0 05 ggo 16 497 6 044 805 517 8^8 058 1886 1887 . 105,630 1 25 349 62,322 59 586 167,952 184 935 62.9 67 8 26,108 27 275 18*365 19 339 6,325 6 554 845.912 950 889 870,602 976 77'' 1888 1889. . .- 138,395 151,578 52,981 50 510 191,376 202 088 72.3 75 0 29*006 30 566 20,247 21 471 6,827 7 053 1,005,108 1 051 141 1,032,182 1 080 665 1890. . . 167,458 40 694 208 152 80 4 SI si'' °1 664 7 253 1*061 *952 1 090 869 1891 174,775 39 754 •'1 1 V"i 81 5 '{'{ "id'i 23 083 7 3g8 l'l63'679 1 194 130 1892 182 711 38 918 221 629 82 4 34 gog 04 go4 7 830 1 177 113 209 457 1893 190,718 37 135 227*853 83 7 36 118 27 179 7 877 1 906 444 241 500 1894 197 491 35 054 032 755 84 9 7 Q91 1 o<>8 781 '263*059 1895. 206 381 28 650 035 o'il 87 8 36 610 • >(j ]jr) 7 891 1 230 798 265 108 1896 210,290 28 440 238 730 88 1 ",ti 'isS 24 940 7 880 1 245 640 '278*460 1897. 215 658 26 043 241 701 89 2 "(i IK) 9C AS,1 8 180 1 234 972 'o68*806 1898 220,804 24 435 245 239 90 0 "(i 7 Hi ''") S 1 1 s 04<) 1 284 807 318 700 1899 228 976 21 387 250 363 91 5 8191 1 328 084 '362*389 1900 238.464 19 389 057 853 92 4 "S Of'i~> OR 7CR SL onq 1 350 258 385 253 1901 246.811 19 181 265 99 9 92 7 •;<) -•><) 27 144 8 667 1 409 472 1 445 283 1902. 257 437 17 398 274 835 93 6 41 fiOfi Q 79fi 1 503 949 1 541 039 NOTE. — In the above classification those roads whose statements are grouped under the head of Class 1 comprise all lines that may be designated "common carrier railroads" in the full sense of the expression; prises with which they are connected; and Class 6 includes roads not fully brought into operation, and those whose operations are not fully reported. Class 4 is omitted because the traffic operations of these switching and transfer railroad.* is merely a duplication of figures contained in Class 1; omitting these trans|>ortation statistics necessarily causes the omission of all returns responsive thereto. Statement of railroad construction in the United States during the years 1900-1902: STATKW. 1900 1901 1902 STATES. 1900 1901 1902 Miles. 11.60 18.54 45 50 Miles. 16.08 Miles. 69.14 '4.00 4.00 Missouri \. Miles. 42.75 61.10 316.29 Miles. 140.91 147.58 577.16 28.64 98.78 258.96 146.10 366.03 Mile*. 17S.'.»7 311.2!) 344.06 59.95 66.79 353.13 482.66 3S2.-19 New Hampshire Arkansas. . Texas Massachusetts Kansas Colorado 84.33 1.95 166.26 137.99 Connecticut 0.50 New Mexico New England New York 75.64 9.00 3.91 213.78 16.58 19.50 0.24 103.78 77.14 49.37 3.74 145.24 Oklahoma Territory Southwestern 810.67 278.07 251.83 104.13 119.93 13891 69.73 30.53 1,764.16 86.55 83.24 3.95 121.50 38.20 74.13 116.84 2,179.34 107.95 230.55 73.58 147.39 97 1 x* Iowa Minnesota 30.00 3.03 Nebraska North Dakota District of Columbia Middle Ohio 226.69 6.55 92.01 75.77 73.87 86.77 170.10 124.69 207.28 191.98 192.63 207.95 278.52 80.08 80.14 64.84 162.04 222.05 Wyoming Montana 88.55 Michigan Northwestern Washington 993.13 70.40 45.00 149 75 524.41 157.44 15.95 88.16 40.00 120.51 81.81 14.65 671.17 97.30 21.00 97.87 8.23 Indiana Wisconsin Oregon Central Northern 334.97 72.68 261.12 51.06 163.90 139.61 80.70 924.53 24.43 81.63 66.70 53.00 200.35 63.45 609.15 64.36 88.43 44.55 48.35 225.76 152.27 Nevada Idaho 46.49 56.50 8.92 West Virginia Arizona Utah 21.48 108.11 Pacific 377.06 75.64 226.69 334.97 769.07 570.11 810.67 993.13 377.06 518.52 16.58 170.10 924.53 489.56 498.63 1,764.16 524.41 518.52 353.99 77.14 278.52 609.15 623.72 327.85 2,179.34 671.17 353.99 Georgia Florida South Atlantic 769.07 156.47 153.26 79.53 26.10 154.75 489.56 135.29 57.31 94.17 37.00 174.86 623.72 47.34 120.10 20.19 44.75 95.47 Middle. Alabama Central Northern Mississippi Gulf and Miss. Valley Tennessee Kentucky Louisiana Pacific Gulf and Miss. Valley . . . 570.11 498.63 327.85 United States. . . 4,157.34 4,906.49 5,120.88 Statement showing miles of railroad from 1830 to the close of 1902, inclusive: YEAR. Miles in Operation. Annual Increase of Mileage. YEAR. Miles in Operation. Annual Increase of Mileage. YEAR. Miles in Operation. Annual Increase of Mileage. 1830 . . 1831 23 95 "72 1855... 1856 18,374 22,016 1,654 3,642 1880 . . 1881 93,262 103,108 6,706 9,846 1832 229 134 1857 24 503 2,487 1882 114,677 11,569 1833 380 151 1858 . 26, 90S 2,465 1883 121,422 6,745 1834 633 253 1859 28,789 1,821 1884 125,345 3,923 1835 1,098 465 1860 30,626 1,837 1885 128,320 2,975 1836 1,273 175 1861 . . . 31,286 660 1886 136,338 8,018 1837 1,497 224 1862 32,120 834 1887 149,214 12,876 1838 1,913 416 1863 . . 33,170 1,050 1888 156,114 6,900 1839 2,302 389 1864 ... . 33,908 738 1889 161,276 5,162 1840 2,818 516 1865 35,085 1,177 1890 166,654 5,378 1841 .... 3,535 717 1866 . . . 36,801 1,716 1891 170,729 4,075 1842 1843 4,026 4,185 491 159 1867 1868 . . 39,250 42,229 2,249 2,979 1892 1893 175,170 177,516 4,441 2,346 1844 .... 4,377 192 1869 ... . 46,844 4,615 1894 179,415 1,899 1845 4,633 256 1870 52,922 6,078 1895 181,065 1,650 1846 4,930 297 1871 60 293 7,379 1896 182,769 1,704 1847 5,598 668 1872 66,171 5,878 1897 184,591 1,822 1848 5,996 398 1873 70 268 4,097 1898 186,810 2,219 1849 7,365 1,369 1874 72,385 2,117 1899 190,818 4,008 1850 .... 9,021 1,656 1875 74 096 1,711 1900 194,334 3,516 1851 10,982 1,961 1876. . 76,808 2,712 1901 198,768 4.434 1852 12,908 1,926 1877 79 082 2,274 1902 203,132 4.365 1853 15,360 2,452 1878 . 81,747 2,665 1854 16,720 1,360 1879 86,556 4,809 NOTE. — The "annual increase in mileage" usually represents the net increase within the year named. Above will be found a detailed statement of railroad construction for the three years 1900-1902, and similar statements for preceding years will be found in the past numbers of the MANUAL. The total mileage of all lines in the country at the end of 1901, as shown by the revised statements presente I herewith, was 198,768.08 miles; construction during the year, as per construction table above, 5,120.88 miles — total, 203,888.96, from which deduct sundry lines reported abandoned, transferred to side track, and equipped with electricity, aggregating 757.35, leaving mileage, Dec. 31, 1902, 203,131.61 miles. VI Statement showing mileage of railroads by States and Groups on 31st of December, each yrar. at various periods since 1850 (excluding all elevated city passenger railways) : STATK* \\i> GROUPS OK STATUS. 1850 1860 1870 1880 1890 1895 1900 1901 1902 New England: Maine MI M 200 1,035 68 402 472 Ml 554 I.2IH 108 601 7:51 614 1,480 136 742 1.005 1.015 914 1,915 210 923 1,377.47 1,142.25 991.42 2.096.69 217.43 1,006.64 1,704.71 1,171.44 974.99 2,113.86 226.37 1.008.15 1,916.94 1.193.15 1,045.28 2,111.42 209.29 1,025.40 1,933.03 1,192.37 1,045.43 2,112.22 209.29 1.<>2:,.'.*1 2,002.13 1.1111.95 1.052.31 2,114.94 209.29 1,025.90 New Hampshire Vermont M:- wttl Kh...l.-M,>;.| Connecticut Group I Tctal 2,507 1,36) m 1,240 39 259 3,660 2,682 560 2,598 127 386 4,494 3,928 1,125 4,050 197 671 5,977 5,957 1,684 6,191 275 1,040 o.x'ii.iH) 7,684.41 2,109.06 8,638.99 314.95 ( 1,270.04 I 20.06 7,199.52 8.130.07 2,217.27 9,664.91 315.44 1.291.54 22.88 7,501.48 8,095.00 2,242.93 10,334.08 348.62 1,339.34 24.88 7,518.24 8,114.95 2,242.10 10,393.83 337. 19 1,366.07 24.88 7,596.52 8,137.49 2.238.14 10.508.45 337.14 1,36900 24.87 Middle Atlantic: New York New Jersey Pennsylvania Delaware Maryland 1 District of Columbia )" Group II Total 3,105 575 342 228 111 20 6,353 2,946 779 2,163 2,790 905 10,577 3,538 1,638 3,177 4,823 1,525 15,147 5,792 3,938 4,373 7,851 3,155 20,038.11 7,980.49 7,108.48 6,109.19 10,165.67 5,612.62 21,642.11 8,698.50 7,562.60 6,416.03 10,673.47 6.097.66 22,384.85 8,885.46 8,092.46 6,563.22 11,058.37 6,538.87 22,479.02 9,011.05 8,240.64 6,745.26 11,238.83 0,725.80 22,615.09 8,971.76 8,241.10 6,801.87 IU'IX.07 0,S73.40 Central Northern : Ohio Michigan Indiana Illinois Wisconsin Group III Total 1,276 384 97 283 289 643 21 9,583 1,379 352 937 973 1,420 402 14,701 1,486 387 1,178 1,139 1,845 446 25,109 1,893 691 1,486 1,427 2,459 518 36,976.45 3,359.65 1,433.30 3,128.17 39,448.26 3,603.38 2,075.16 3,449.55 41,138.38 3,794.93 2,484.69 3732.64 41,961.58 3,811.74 2,557.44 3,776.41 2,963.09 5.886.78 3.290.04 42,286.20 3,870.58 2,14597 3,798.03 3,011.44 6,109.73 3.435.81 South Atlantic: Virginia West Virginia North Carolina South Carolina 2,289.15 4,600.80 2,489.52 2,622.55 5,224.54 3,059.05 2,919.43 5.730.02 3,255.71 Georgia Florida Group IV., Total. . . 1,717 183 75 5,463 743 862 1,253 534 335 6,481 1,157 990 1,492 1,017 450 8,474 1,843 1,127 1,843 1,530 652 17,300.59 3,422.20 2,470.85 2,767.38 20,034.23 3,665.45 2,497.78 3,116.54 21,917.42 4,197.22 2,934.27 3,184.91 22,285.50 4,315.83 2,988.25 3,267.01 3,127.17 2.945.16 22.X71 :,ti 4,357.12 3,099.15 3,280.87 3,177.74 3,065.01 GvllAMitt. Valley: Alabama Mississippi. , . Tennessee Kentucky 78 80 2,942.38 1,739.85 3,069.18 2,110.08 3,093.75 2,801.27 Louisiana Group V., Total 416 3,727 817 38 307 5,106 2,000 256 711 1,501 157 6,995 3,965 859 3,244 3,400 1,750 758 289 13,342.66 6,142.02 2,203.44 8,703.85 8,892.11 4,291.11 1,388.77 1,260.65 14,459.03 6,571.58 2,439.20 9,423.55 8,875.25 4,506.19 1,508.03 j 1,154.98 1 431.17 16,211.42 6,887.44 3,108.56 9,991.62 8,714.06 4,649.63 1,779.06 1,487.60 911.58 16,643.42 7,010.44 3,240.33 10,565.93 8,744.08 4,740.60 2,031.11 1,631.20 1,278.93 16,979.89 7,148.03 3,530.99 10,874.17 8,803.18 4,801.54 2,349.20 2,114.03 1,663.83 Southwestern: Missouri Arkansas TPTH« , Kansas Colorado New Mexico Indian Country ( Oklahoma Territory f Group VI., Total Northwestern: Iowa 1,162 655 4,625 2,683 1,092 705 65 459 14,085 5,400 3,151 1,953 1,225 512 106 32,887.95 8,416.13 5,545.35 5,407.47 1 2,116.49 j 2,610.41 1,002.93 2,195.57 34,909.83 8,525.11 6,061.67 5,542.27 2,522.71 2,800.80 1,177.93 2.X !.-)..-)! 37,529.55 9,391.90 6,996.89 5,695.26 2,810.62 2,961.86 1,279.20 3,029.22 39,242.62 9,451.09 7,060.86 5,704.14 2,932.30 3,004.91 1,322.14 3,146.09 41,284.97 9,559.48 7,285.40 5,777.66 3,079.35 3,027.74 1,313.31 3.234.27 Mluunta Nebraska North Dakota I Wyoming Montana Group VII., Total . . . Pacific: Washington 655 5,004 12,347 289 508 2,195 739 206 349 842 27,294.36 201205 29,476.00 282005 32,164.95 288844 32,621.53 3,053.10 1,686.94 5,683.82 960.37 1,440.61 1,597.75 1,593.58 33,277.21 3,112.31 1,711.94 5,772.59 960.53 1,433.91 1,617.49 1,011.40 Oregon 159 925 593 1,439.97 4,349.73 923.18 946.11 1,094.81 1.265.49 1,513.66 4,791.35 915.62 1,087.79 1,412.20 1,405.29 1,670.90 5.5SS.56 920.37 1,319.41 1,515.94 1.581.92 California 23 Nevada Idaho Ariiona Utah 257 Group VIII., Total 23 1,934 5,128 12,031.34 13,945.96 15,485.54 16,016.17 16.220.17 RECAPITULATION BY GROUPS OF STATES. New England Group. . . . 2,507 3,105 1.276 1,717 416 3,660 6,353 9JKt 5.463 3,727 1,162 655 23 4,494 10,577 14,701 6,481 5,106 4,625 5,004 1.934 5,977 15,147 25,109 8,474 6,995 14,085 12.347 5,128 6,831.90 20,038.11 36,976.45 17,300.59 13,342.66 32.887.95 27,294.36 12.031.34 7.199.52 21,642.11 39,448.26 20,034.23 14.459.03 34.909.83 29.476.00 13.945.96 7,501.48 22,384.85 41,138.38 21,917.42 16,211.42 37.529.55 32.164.95 15.4X5.54 7,518.24 22.479.02 41,961.58 22.2S5.50 16,643.42 39,242.62 32,621.53 16,016.17 7,596.52 22.615.09 42,286.20 22,871.56 16,979.89 41,284.97 33,277.21 10,220.17 Middle Group Central Northern Group South Atlantic Group. . . . Gulf A Mississippi Valley Group. Southwestern Group Morthwestern Group PsciOc Group United States 9.021 30,626 52,922 -i.-i.-VC' 166,703.36 181,114.94 194,333.59 198,768.08 203,131.61 Vll STATISTICS OF STOCK AND BOND CAPITALIZATION, BY GROUPS OF STATES, 1890-1902. GROUP 1. — New England States: Maine, New Hampshire, Vermont, Massachu- setts, Rhode Island and Connecticut: STOCK AND BOND LIABILITIES. LIABILITIES PER MILE RAILROAD. K RAILROAD < • OWNED. Stock 'in-! >H Capital Stock. Bonded Debt. Total Stock and Bonds. Stock per Mile. Bonds per Mile. Bonds per Mile. Mile». $ S * $ $ $ 1890.. 6,985 236,186,197 166,373,688 402,559,885 33,813 23,819 57,632 1891.. 7,046 242,120,889 168,559,547 410,680,436 - 24,363 23,922 58,285 1892.. 7,088 257,492,666 166,512,910 424,005,576 36.328 23,492 59,820 1893.. 7,103 268,800,692 162,553,063 431,353,755 37.843 23,443 61,286 1894.. 7,240 281,472,218 170,272,633 451,744,851 38,877 23,516 62,393 1895.. 7,398 287,280,127 177,386,645 464,666,772 38,832 23.978 62,810 1896.. 7,477 305,092,052 167,306,358 472,398,410 40,804 22.376 63,180 1897.. 7,521 288,931,591 199,478,972 488,410,563 38,417 26,523 64.940 1898.. 7,599 286,097,456 206,600,063 492,697,519 37,649 27,187 64,836 1899.. 7,659 293,039,555 206,327,358 499,366,913 38,261 26,939 65,200 1900.. 7,757 293,280,126 207,444,385 500,724,511 37,808 26,742 64,550 1901.. 7,933 288,837,050 225,558,885 514,395,935 36,409 28,433 64,842 1902.. 8,020 . 291,833,275 230,860,434 522,693,709 36,388 28,785 65,173 GROUP 2. — Middle States: New York, New Jersey, Pennsylvania, Delaware and Maryland : 1890.. 19,439 1,077,072,361 1,177,928,007 2,355,445,386 57,787 63,005 120,792 1891.. 19,692 1,069,648,890 1,145,590,604 2,215,239,444 54,319 58,175 112,494 1892.. 20,287 1,168,702,493 1,252,043,829 2,420,746,322 57,608 61,716 119,324 1893.. 20,740 1,194,750,942 1,283,858,568 2,478,600,510 57,606 61,903 119,509 1894.. 20,810 1,212,380,548 1,295,030,752 2,507,411,300 58,260 62,231 120,491 1895.. 21,100 1,221,910,183 1,306,780,917 2,528,691,100 57,910 61,932 119,842 1896.. 21,883 1,294,286,963 1,335,829,192 2,630,116,155 59,146 61,044 120,190 1897.. 22,187 1,410,237,599 1,322,421,509 2,732,659,108 63,561 59,603 123,164 1898,. 22,113 1,144,093,841 1,466,801,386 2,910,895,227 65,305 66,332 131,637 1899.. 23,159 1,470,336,197 1,464,789,415 2,935,125,612 63,488 63,249 126,737 1900.. 23,177 1,543,987,540 1,505,005,995 3,048,993,535 66,617 64,935 131,552 1901.. 24,248 1,629,349,966 1,624,861,664 3,254,211,630 67,195 67,010 134,205 1902.. 24,404 1,663,531,993 1,716,077,647 3,379,609,640 68,166 70,320 138,486 NOTE. — The differences in this statement, for Group 2, as compared with the MANUALS previous to 1899, are the result of the elimination of the statistics of elevated railroads in New York State. GROUP 3. — Central Northern States: Ohio, Michigan, Indiana, Illinois and Wis- consin : 1890.. 47,625 1,193,013,756 1,343,845,703 2,536,859,459 25,050 28,217 53,267 1891.. 48,136 1,192,877,926 1,373,827,609 2,566,705,535 24,781 28,541 53,322 1892.. 50,466 1,191,399,741 1,411,788,343 2,603,188,084 23,608 27,975 51,583 1893.. 51,518 1,233.567,203 1,476,470,571 2,710,037,774 23,944 28,659 52,603 1894.. 51,735 1,255,633,632 1,516,342,975 2,771,976,607 24,271 29,310 53,581 1895.. 52,253 1,264,971,040 1,527,253,032 2,792,224,072 24,209 29,228 53,437 1896.. 52,056 1,218,242,422 1,417,464,035 2.635,706,457 23,403 27,230 50,633 1897.. 52,336 1,219,448,960 1,429,305,032 2,648,753,992 23,300 27,310 50,610 1898.. 52,824 1,211,135,795 1,428,924,595 2,640,060,390 22,927 27,050 49,977 1899.. 52,872 1,244,431,393 1,419,982,689 2,664,414,082 23,537 26.857 50,394 1900.. 54,012 1,241,312,667 1,447,396,939 2,688,709,606 22,982 26,797 49,779 1901.. 55,116 1,324,530,672 1,453,365,354 2,777,896,026 24,032 26,369 50,401 1902.. 55,933 1,341,197,188 1,482,089,323 2,823,286,511 23,979 26,497 50,476 GROUP 4.— South Atlantic States: Virginia, West Virginia, North Carolina, South Carolina, Georgia and Florida: 1890.. 17,077 359,927,61 1 336,961,930 696,889,541 21,077 19,731 40,808 1891.. 17,871 374,547,286 349,892,314 724,439,600 20,954 19,580 40,534 1892.. 18,658 377,150,170 381,411,607 758,561,777 20,214 20,442 40,6.56 1893.. 18,996 384,864,615 394,054,946 778,919,561 20,260 20,744 41.004 1894.. 19,619 372,594,953 396,814,668 769,409,621 18,992 20,226 39,218 1895.. 20,907 518,720,806 433,535,957 952,256,763 24,810 20,736 45.546 1896.. 21,160 511,958,952 442,035,774 953,994,726 24,199 20,895 45,094 1897.. 21,806 536,032,574 429,261,801 965,294,375 24,582 19,685 44,267 1898.. 22,076 536,924,343 433,774,615 970,698,958 24,322 19,649 43.971 1899.. 21,918 525,965,878 438,068,038 964,033,916 23,997 19,987 13,964 1900.. 23,170 553,982,383 437,936,621 991,919,004 23,909 18,901 42,810 1901.. 24,455 607,139,772 494,658,980 1,101,798,752 24,827 20,227 45,054 1902.. 25,060 596,126,450 503,357,275 1,099,483,725 23,788 20,086 43,874 Vlll GROUP 5. — Gulj /*/ Tennessee and Louisiana: N/ BOND I.I.MULITIKS. LIABILITIES PEK MILE HAILKOAD. — H > RAILROAD OWNKD. Capital Stork. Holi.lr.l Drill. Total Stork and Bonds. Stocks per Mile. Bonds per Mile. Stock and Bonds per Mile. Mili-f $ $ S $ S S 1890.. 1891.. 11.403 12,069 265,455,070 306,024,869 318,396,348 :; is. 064,425 583,851,418 654,089,294 23,279 25,356 27,922 28,839 51,201 54,195 1VIL1. 12.069 309,435,371 369,758,952 679,194,323 25,638 30,637 56,275 1893.. 12,319 311,562,994 371,667,249 683,230,243 25,291 30,170 55,461 1804.. 12,528 300,281,568 362,619,388 662,900,956 23,969 28,945 52,914 1MI.Y. 11.:, is 264,975,837 345,724,557 610,700,394 22,946 29,938 52,884 1X96.. 11,527 246,348,487 322,514,017 568,862, 5' "'4 21.371 27,979 49,350 1N97.. 11.900 247,782,232 311,210.685 558,992,917 20,822 26,152 46,974 IV.IS 11,504 218,950,806 314,872,461 533,823,267 19,032 27.370 46,402 1890. 1 1 ,945 216.551,313 310,101,209 526,652,522 18,129 25,960 44,089 1900.. 11,960 202,661,277 304,815,828 507,477,105 16,944 25,486 42,430 1901.. 11,696 199,502,077 272,084,386 471,586,463 17,057 23,263 40,320 1902.. 11,841 192,730,334 256,735,799 449,466,133 16,276 21,681 37,957 GROUP 6. — Southwestern States: Missouri, Arkansas, New Mexico, Oklahoma and Indian Country : Texas, Kansas, Colorado, 1890.. 31.724 764,192,260 905,122,912 1,669,315,172 24,089 28,531 52,620 1891.. 32,168 816,413,313 914,906,748 1,731,320,061 25,380 28,410 53,790 1892.. 31,437 808,506,778 930,135,360 1,738,642,138 25,718 29,587 55,305 1893.. 32,156 820,631,273 938,623,790 1,759,255,163 25,521 29,190 54,711 1894.. 32,227 801,406,019 957,726,768 1,739,132,787 24,868 29,098 53,966 1895.. 32,698 818,988,462 937,375,528 1,756,363,990 25,047 28,668 53,715 1896.. 32,927 968,701,017 867,402,712 1,836,103,729 29,420 26,343 55,763 1897.. 33,263 980,441,896 896,197,330 1,876,639,226 29,475 26,943 56,418 1898.. 34,382 914,565,270 851,777,983 1,766,343,253 26,600 24,773 51,373 1899.. 35,132 930,189,966 878,867,044 1.809,057,010 26,471 25,016 51,487 1900.. 35,642 920,435,273 892,351,347 1,812,786,620 25,824 25,036 50.860 1901.. 36,058 939,545,596 908,598,817 1,848,144,413 26,056 25,198 51,254 1902.. 37,537 994,256,375 1,012,551,202 2,006,807,577 26,487 26,974 53,461 GROUP 7. — Northwestern States: Iowa, North Dakota, Wyoming and Montana: Minnesota, Nebraska, South Dakota, 1890.. 19,925 401,201,957 558,038,000 959,239,957 20,136 28,007 48,143 1891.. ui.i:;ii 427,846,391 618,158,706 1,046,005,097 19. 90.-) 28,845 48,810 1892.. 21,791 433,499,523 624,571,531 1,058,071,054 19,893 28,662 48,555 1893.. 23,108 477,553,352 627,269,591 1,104,822,943 20,666 27,145 47,811 1894.. 23,487 477,533,059 642,709,562 1,120,242,621 20,332 27,365 47,697 1895.. 23,421 481,826,613 633,533,032 1,115,359,645 20,572 27,050 47,622 1896.. 23.516 491,906,865 629,239,897 1,121,146,762 20,918 26,758 47,676 1897.. 23,542 555,696,245 650,238,590 1,205,934,835 23,604 27,620 51,224 1898.. 23,762 618,971,376 637,795,678 1,256,767,054 26,049 26,841 52,890 1899.. 24,4:«) 697,024,815 633,005,833 1 ,330,030,648 24,438 25,915 50,353 1900.. 25,218 680,172.883 621,287,369 1.301,460,252 26,971 24,636 51,607 1901.. 26.620 6.56,328,168 734,916.964 1,391,245,132 24,655 27,608 52,263 1902.. 26,861 674,441,079 966,186,616 1,640,627,695 25,109 35,970 61,079 GROUP 8.— Pacific States: Utah and Idaho: California, Oregon, Washington, Nevada, Arizona, 1890.. 9.181 293,422.348 248,558,437 541,980,785 31,960 27,073 59,033. 1891.. 9,433 322.270,934 261,227,071 583,498,005 34,164 27,693 61,857 1892.. 10.008 316.931,330 270,732,472 587,663,802 31,667 27,051 58,718 1893.. 9.502 329,845,480 255,860,785 585,706,265 34,713 26,927 61,640 ISM.. 10,407 326,302,721 284,355,053 610,657,774 31,354 27,323 68.677 1895.. 10.497 322,700,531 287,069,768 609,770,299 30,742 27,348 58,090 1896.. 10,847 336,651,061 280,064,813 616,715,874 31,036 25,820 56,8*6 1897.. 10,993 364,393,352 296,3 IS. r>7:; 660,711,925 33,148 26,956 60,104 1808. 10.635 349,783,971 293,116,813 642,900,784 32,889 27,561 60,450 1899.. 10,666 364.642.064 293,716,146 658,358,210 34,187 27,547 61,734 1900.. 11.225 368.514,101 342,354,270 710,868,371 32.829 30,499 63,328 1901.. 9,761 333,562,948 321,424,691 654.987,639 34,173 32,930 67,103 1902.. 10,029 324,173,902 258,285,533 582,459,435 32,324 25,755 58,079 IX STATISTICS OF PASSENGER TRAFFIC FOU THIRTEEN YEARS, 1890-1902: Statement showing the length of road operated, passenger statistics, earnings, otc.. etc., of all the railroads in the United States from 1890 to 1902, inclusive: It. K (H 1890. 1891. 1892. 1893. 1894. 1895. 1891). 1897. 189S. 1893. 1900. 1901. 1902. Length of RRs. in Operation. Miles Run by Pas- senger Trains. PASSENOK : TKAF ic. PASSKNGER EARNINGS. < ° if! Average Distance Travelled p. Pas- senger. Pass'ng'rs Carried. Passenger Movement. Gross Amount. Av. Re- ceipts p. Pass. p. Mile. Av. Kcc. per Pass. Av. Rec. p. Pass. Train Mile. Av. Rec. p. Mile. ofRR. Miles. 157,976 164,262 170,607 173,361 176,221 179.154 180,891 180,621 183,216 185,550 190,694 193,823 196,648 Miles. 297.244,707 320,712,013 323,930,550 338,551,608 325,981,863 326,184,59C 337,641,115 342,464,408 344,761,142 355,106,832 373,226,581 391,543,705 403,213,175 No. 520,439,082 556,015,802 575,769,678 597,056,539 569,660,216 529,756,259 535,120,756 504,106,205 514,982,888 Miles. 12,521,565,649 13,316,925,239 13,584,343,804 14,979,847,458 13,600,531,635 12.609,082,551 13,054,840,243 12,494,958,000 13,672,497,664 $ 272,320,961 290,799,696 293,557,476 310,442,870 275,352,190 260,929,741 265,313,258 253,557,936 272,589,591 Cents. 2.174 2.184 2.168 2.072 2.025 2.069 2.032 2.023 1.994 2.002 2.031 2.028 2.012 Cents. 52.13 52.30 50.99 52.00 48.34 49.25 49.58 50.30 52.93 55.31 56.67 60.07 60.52 Cents. 91.61 90.67 90.62 91.70 84.47 79.99 78.58 74.04 79.07 83.79 88.79 92.12 98.34 $ 1,724 1,770 1,721 1,791 1,563 1,456 1,467 1,403 1,488 1,604 1,738 1,861 2,016 No. 3,294 3,385 3,375 3,444 3,233 2,957 2,958 2,791 2,811 2,899 3,066 3,098 3,331 Miles. 42.12 41.52 41.93 44.25 41.72 38.66 38.66 36.49 39.66 41.84 43.22 45.43 48.87 Miles. 24.05 23.95 23.59 25.09 23.87 23.88 24.40 24.78 26.55 27.63 27.90 29.63 30.08 537.977,301 14,859,541,965 297,559,712 331,402,816 584,695,935 16,313,284,471 WO. 485,790 .55,130,236 17,789,669,925 19,706,908,785 360,702,686 396,513,412 NOTE. — The mileage operated in 1897-1902, as above, is exclusive of switching railroads, which in 1897 were 741.37 miles, in 1898, 338.85 miles, in 1899, 310.61 miles, in 1900, 350.72 miles, in 1901, 462.28 miles, and in 1902, 448.88 miles; these roads not reporting details of passenger traffic or earnings, as also the mileage of railroads doing a freight business exclusively. (See class 3 in table on p. iii.) For the same reason the mileage of switching railroads is omitted from the group tables following. STATISTICS OF PASSENGER TRAFFIC, BY GROUPS OF STATES, 1890-1902: GROUP 1. — New England States: Maine, New Hampshire, Vermont, Massachu- setts, Rhode Island and Connecticut : 1890. 7,011 28,127,218 111,841,063 1,743,129,541 33,421,885 1.92 29.88 118.82 4,767 15,810 61.97 15.59 1891. 7,316 29,788,328 118,502,901 1,837,802,346 34,740,209 1.89 29.32 116.63 4,749 16,198 61.70 15.51 1892. 7,332 31,298,204 123,960,648 1,902,487,160 36,291,555 1.91 29.28 115.95 4,950 16.907 60.79 15.35 1893. 7,139 32,438,002 12S.03S.322 1,980,217,796 34,937,084 1.76 27.27 107.70 4,894 17.943 61.03 15.46 1894. 7,452 31,097,374 128,545,855 1,842,924,000 34,462,989 1.87 26.81 110.82 4,625 17,250 59.26 14.34 1895. 7,659 30,266,737 116,069,178 1,856,263,668 34,224.725 1.84 29.48 113.07 4,468 15,155 61.33 15.99 1896. 7,745 31,856,978 118,140,043 1,964,810,003 36,237,100 1.84 30.67 113.75 4,679 15,254 61.68 16.63 1897. 7,583 31,485,978 109,064,367 1,853,911,708 34,410,597 1.86 31.55 109.29 4,538 14,382 58.88 17.00 1898. 7,571 32,105,934 108,238,631 1,859,725,010 34,050,282 1.83 31.46 106.05 4,497 14,296 57.92 17.17 1899. 7,752 32 824 322 108.153.748 1.899.878.260 34,628,658 1.82 32.01 105.49 4,467 13.952 57.82 17.56 1900. 7,850 33,704,744 1 15,533,553; 2,065,369,796 37,441,242 1.81 32.40 111.08 4,770 14,718 61.27 17.87 1901. 7,943 33,840,556 115,727,357i 2,079,323,638 37,605,275 1.81 32.49 111.15 4,734 14.570 61.43 17.97 1902. 7,702 31,949,003 112,955,845 1,973,710,270 35,454,695 1.84 31.38 110.97 4,603 14,665 61.77 17.47 GROUP 2. — MiddleStates:Ne\vYork,Ne\vJersey, Pennsylvania, Delaware andMaryland: 1890. 1891. 1892. 1893. 1894. 1895. 1896. 1897. 1898. 1899. 1900. 1901. 1902. 19,314 19,694 19,876 20,413 20,772 21,890 22,288 22.340 22,555 23,496 24.542 24,740 25,239 79,399,847 83,604,415 81,518,932 87,115,499 83,377,141 208,578,403 221.138,953 223,861,314 234,401,194 3,522,178,739 3,850,100,826 3,825,271,220 4,128,610,368 70,539,447 72,857,127 71,903,150 77,051,424 2.02 1.89 1.88 1.87 1.87 1.82 1.84 1.83 1.80 1.79 1.81 1.81 1.83 33.81 32.95 32.12 32.87 33.30 33.30 33.65 35.08 35.66 37.68 38.29 39.26 41.42 88.84 87.15 88.20 88.45 83.90 78.98 75.92 74.80 75.99 81.03 86.90 91.66 104.30 3.652 3.699 3,618 3,775 3,320 3,196 3,122 3.093 3,181 3,339 3,514 3,793 4,337 10,799 11.229 11,263 11,483 10,112 9,587 9,277 8,816 8.919 8,862 9.175 9.664 10.472 44.36 46.05 46.92 47.39 44.89 43.57 41.37 40.93 42.13 45.11 48.00 50.52 56.88 16.89 17.41 17.09 17.61 17.82 18.43 18.34 19.20 19.77 20.97 21.15 21.64 22.59 210,041,569 3,742,672,678 69.954,308 69i954,596 69,584,155 69,092,293 71,741,566 78,461,385 86.239,673 93,848,944 109,475,389 88,570,409 91,655,728 92,378,779 94,398,765 96,827,598 99,235,062 102,391,811 104,960,211 203,847,049 206,772,751 196,948,815 201,170,636 208.219,167 225,183,898 239,075,406 264,315,847 3,857,535,a57 3.791,569,013 3,781,345,140 3,976,849,193 4,368,114,354 4,764,067.028 5,172.493.003 5,970,839,261 GROUP 3. — Central Northern States: Ohio, Michigan, Indiana, Illinois and Wisconsin: 1890. 50,936 91,772,418 107,316,353 3,438,232,529 75,931,9.50 228 70.55 82.74 1.490 2.106 37.46 32.01 1891. 51,426 98,750,086 116,684.688 3,644,184,634 81,526,963 2.24 69.87 82.56 1,585 2,269 36.90 31.23 1892. 53,163 104,226,627 126,745,771 3,895,169,404 84,788,271 2.18 66.90 81.35 1,595 2.384 37.37 30.73 1893. 53,573 109,299,941 137,576,482 4,696,203,5'J5 96,725,843 2.06 70.31 88.50 1,805 2,568 42.97 34.14 1894. 54.266 104,940,892 140,438,105 4.258,376,108 84,020,175 1.97 59.83 ao.06 1,548 2,588 40.58 30.32 1895. 53,733 100,281,731 113,500,394 3,358 494,i52 72,161,921 2.15 63.58 71.96 1,343 2.112 33.49 29.59 18%. 55,214 104,369,496 120,473,195 3,557,695,514 74,720,960 2.10 62.02 71.59 1,353 2,182 34.09 29.53 1897. 53.751 102,814,710 111.413,808 3.336,185.242 68,749,924 2.06 61.73 66.89 1,279 2,073 32.50 29.94 1898. 55,217 106,119,166 111.901,700 3.625,887,725 73.864.202 2.04 66.01 69.61 1,338 2,027 34.17 32.40 1899. 55,989 112.423.039 121,924,669 4,066.7S5.2S<> 84.064.0.50 2.06 68.95 74.68 1,501 2.178 »>.!" 33.35 1900. 57,598 117,812,067 132,765.724 4.488.439.S65 93.521,023 2.08 70.44 79.38 1.024 2.305 3S.09 33.80 1901. 1902. 56.641 57,680 120,942.843 125,961.069 124.106.364 144,912.355 4,931,443.510 5.287,672,425 100.390,447 107,921.259 2.04 2.04 80.89 74.47 83.01 g&M 1,772 1,871 2.191 2,512 40.78 41.97 39.73 36.49 GROUP 4. — South Atlantic ,s'/v England Slates: Maine, New Hampshire, Vermont, Massachu- setts, Rhode Island and Connecticut: 1890... 7,011 23,741,034 41,294,970 2,865,747,971 39,337,594 1.37 95.25 165.78 5,611 5,890 120.77 69.40 1891 7,316 24,701,694 42,577.879 2,922,201,512 39,700,748 1.36 93.24 160.72 5,427 5.820 118.30 H ',i 1892 7,332 26,074,558 44,561,771 3,151,501,800 41,575,308 1.32 93.30 159.45 5.670 6.078 120.87 70.72 1893 7,139 26,984,438 45,182,595 3,320.281.8.50 41,194,428 .24 91.17 152.66 5.770 6.3291 123.04 73.49 1894 7,452 24,127,056 38,667,797 3,022.670,079 37,841,474 .25 97..X6 Ifi6.8fi 5,078 5,188! 125.281 7S.I7 1895 7,659 24,115,556 42,183,249 3,374,290,496 41.725,803 .24 98.89 173.02 .Vl.Vi ")..VN l:t!' ">! 7" '" 1896 7,745 24,399,305 44,959.252 3,090,748,399 45,090.92!) 22 100.29 184.80 ."> M'J .">.v(t.'i I.M _'> V 1" 1897 7,574 23,647,747 43,921,712 3,640,996,782 43,963,134 .21 100.00 is.j.91 5,804 5,7991 153.97 82.90 1898 7,565 23,408,560 46,474,379 3,802,907,004 45,441,028 .19 97.78 I'.il.li: (007 6,143 KB.W H1.S3 t899 7,744 23,443.918 48,391,995 4,102,738,778 46,386,885 .14 '.I.-.M 197.87 5,990 6.249 175.00 84.78 1900 7,841 24.478,304 54,337.876 4,506,760,217 52,156,411 .16 95.98 213.06 6,652 0,930 184.10 82.94 1901 1902 7,934 7,693 21,754,515 20,355,977 52,025,838 51,269,015 4,536,282,349 4,312,247,710 52,685.934 50,912.007 1.16 1.18 101.27 99.30 242. IS 250.01 6,641 6.619 6.557 HUB 6,664 1 21 1.15 87.19 83.97 XII 2. — Middle States: New York, New Jersey, Pennsylvania, Delaware and Maryland : [ 1890.. 1891.. IVU. . 1VI3. 1894.. 1895.. 1898'.! 1899.. 1900.. 1901.. 1902.. •a'- - § 1L° »! FREIGHT TRAFFIC. FREIGHT EARNINGS. H ^ IS. -M 3 Freight Carried. Freight Movement. Gross Amount. Av. Re- ceipts, per Ton per Mile. Av. Rec. per Ton. Av. Rec. per Freight Train Mile. Av. Rec. per Mile of RR. Af. 19.314 19.694 20J413 20,772 21,890 22I3J35 22,721 24J10 24,922 25,467 Miles. 134,394,564 131,997,001 l*i.s32.;K< i:<:.9j\7:.7'il. 2.51 4.181.9.53.021 35,4!K>,124 0.85 115.40 1.50.48 3,572 3,095 177.27 I3.5.K5 1898.. 9.648 23,374.3-59 32.69S.730 4,514.509.458 36.857,186 0.81 112.71 157.68 3.820 3,389 193.13 138.06 ivn 9.428 24.332.310 33.734,596 4.813.299.663 38,301,664 0.80 113.73 157.66 4.069 3,578 197.83 142.70 !'*•> UM 26.197.502 40.391.899 5,709.612.838 47.348.395 0.83 117.22 180.74 4,884 4,167 217.94 141.35 1901.. 10.483 27.633.818 42,699,014 6.048.232.592 49,461,700 0.82 115.92 178.99 4,718 4,070 218.87 141.75 1902.. 10,214 26,542,197 44,578,120 6,095,752,106 54,028,287 0.89 121.19 203.18 5,289 4,364 229.62 136.74 Xlll GROUP 6. — Southwestern States: Missouri, Arkansas, Texas, Kansas, Colorado, New Mexico and Indian Country : YEARS. 3d en. 3. •32 ^ Jj Miles Run by Freight Trains. FREIGHT TRAFFIC. Gross Amount. FREIGHT EARNINGS. Average No. of Tons per Mile of Railroad. Av. No. of Tons Miles p. Freight Train Mile J« ft •5 Freight Carried. Freight Movement. Av. Re- ceipts per Ton per Mile. Av. Rec. J?*r Ton. Av. Rec. per Freight Train Mile. Av. Rec. per Mile of RR. 1890.. 1891.. 1892. . 1893. . 1894.. 1895. . 18%.. 1897.. 1898.. 1899.. 1900.. 1901.. 1902.. Miles. 28.356 29.828 30.313 30,777 30,591 31,744 31.046 31,760 31.362 31,934 32,550 32,952 34.296 Miles. 50,663,806 55,380.187 5S.OSti,79!) 61,515,240 55,539.171 56,238,816 54,873.333 61,209,372 66,635.995 62,287,752 61.248,175 62,486,220 61,732.276 Tons. 38,272,891 39,127,235 42,870,203 45,210,460 40,448,861 Miles. 6,746,133,009 6,989,199.835 6,582,922,431 8,317,784,934 7.480,699,078 $ 91,178,601 94,033.099 102,420,148 102,971,532 85,703,401 90,416,124 86,919,606 97,968,033 109,651,719 111,027,586 124,627,518 143,499,571 Cents. 1.35 1.35 1.56 1.24 1.15 1.24 1.15 1.05 1.02 1.02 1.00 1.01 1.00 Cents. 238.23 240.33 238.91 227.76 211.88 207.11 215.32 197.71 196.11 196.68 197.77 201.99 199.17 Cents. 179.97 169.80 176.32 167.39 154.31 160.77 158.40 liiO.oi; 164.57 178.24 203.47 229.al> 246.67 $ 3,216 3,153 3,379 3,346 2,802 2,848 2,800 3,084 3,496 3,477 3,829 4,355 4,440 Tons. 1,385 1,312 1,414 1,469 1,322 1,375 1.300 1,591 1,783 1,768 1,936 2,156 2,229 M. 133.15 126.20 113.33 135.22 134.69 129.54 138.10 152.86 161.28 174.16 202.69 227.18 246.07 M. 176.26 178.64 1.53.55 18&98 184.94 166.88 187.72 188.82 192.21 192.17 197.01 199.82 198.82 43,655,714 40,367,463 49,552,336 55,913,895 56,451,679 63,015,069 71,043,379 7,285,185,949 7,577.986,274 9,356,242,003 10,746,801.693 10,848,240,128 12,414.921,574 14,195,798,907 76.457,077 15,190,562,094 152,281,680 GROUP 7. — Northwestern States: Iowa, Minnesota, Nebraska, North Dakota, South Dakota Wyoming and Montana: 1890.. 1891.. 1892.. 1893.. 1894.. 1895.. 1896.. 1897.. 1900.. 1901.. 1902.. 20,859 20,299 22.064 21,882 22,885 22.507 22,428 21.995 22,852 22,590 23,370 25,210 25.503 42.248335 42.036.978 43,847,056 44.128,277 33.741,216 33,646,854 34,964,923 33.766.216 36,560,557 35,604,276 36,861,309 36,829,716 41,196.891 31,632.004 33,155,532 37,593.938 37,148,942 30,508,547 32,918,571 38,816,203 39,921,519 50,701,003 53,096,491 61,411,037 62,328,678 6,368,549,651 6,748,708,493 7,422,096,785 7,439,931,122 6,105,115,988 6,306,714,622 7,237.982,906 7,252.595,347 9,099,570,416 9,679,319,929 11,193.594.012 12,036,()!W.J()2 70.235.985! 14,081.777,346 67,745,469 72,155,107 79,905,271 76,208,054 62,894,211 65,760,741 74,548,090 71,958.718 88,663,841 94,867,258 106.673,340 113,926,005 133,216,276 1.06 1.07 1.08 1.02 1.03 1.04 1.03 0.99 0.97 0.98 0.95 0.95 0.95 214.17 217.63 212.55 205.14 203.15 193.83 194.63 180.25 174.87 178.66 173.72 182.78 189.69 160.35 171.65 182.24 172.70 186.40 195.43 213.21 213.11 242.51 274.90 289.39 309.33 323.36 3.248 3,555 3,622 3.483 2,748 2,922 3,324 3,272 3,879 4,200 4,569 4,519 5.224 1,516 1,633 1,704 1,698 1,333 1,462 1,730 1,815 2,262 2,350 2,628 2,472 2.754 150.69 160.54 179.27 168.82 180.94 187.44 207.01 214.79 248.89 271.86 303.66 326.82 341.81 201.33 203.55 197.43 200.54 200.11 199.77 186.73 181.67 179.47 182.29 182.27 193.12 200.49 GROUP 8. — Pacific States: California, Oregon, Washington, Nevada, Arizona, Utah and Idaho: 1890.. 7,376 14,670,448 10.937.953 2,094,931,600 32.72'.), 117 1.56 299.23 2J3.0!) 4,437 1,483 142.79 191.53 1891.. 1892.. 1893.. 1894.. 1895.. 8,319 8,836 10,273 10,518 10,849 15,469.768 14,708,848 15,245,276 16,839,361 16,901.091 11,894,655 11,980,350 12,539,279 13,131,681 11,690,185 2,209,722,423 2,239,114,900 2,496,569,629 2,903,677,383 2,797,375,432 35,378,671 34,785,858 36,620,564 33,748,130 36,652,650 1.60 1.55 1.47 1.16 1.31 297.43 290.36 292.05 257.00 313.53 529.59 236.50 240.21 200.41 216.86 4,253 3,937 3,565 3,209 3,378 1,430 1,356 1,220 1,248 1,078 143.40 152.23 163.76 173.03 165.51 185.77 186.90 199.10 221.12 •2:v.-«) 1896.. 1897.. 1898.. 11,086 11,950 12,193 15,894,079 17,706,304 21.007,593 13,677,178 15,421,020 18,885,191 2,981,516,464 3,307,657,992 4,388,848,772 35,253,923 39,017,906 47,029,580 1.18 1.18 1.07 257.80 253.02 249.03 221.81 220.36 223.87 3,180 3,265 3,857 1,234 1,290 1,549 187.60 186.81 208.91 217.99 214.49 237.69 1899.. 1900.. 1901.. 1902.. 11,954 12,576 12,423 11,737 18,076,181 18,978,182 20,359.505 19.422.128 19,073.814 22,524,092 20,316 923 20,847.353 4,596,429,823 5,621,042,421 5,365,747,406 5.131,195,797 47,192,119 54,685,281 60,632,952 59.139,672 1.03 0.97 1.11 1.15 247.41 243.67 298.44 283.68 261.06 288.14 297.81 304.55 3,948 4,348 4.881 5,039 1.596 1,791 1,635 1,862 254.2S 296.0S 263.55 264.19 IMO.ilS 249.55 264.10 246.13 GROSS AND NET EARNINGS, INTEREST, AND DIVIDENDS FOR THIRTEEN YEARS, 1890-1902. Statement showing gross and net earnings, available revenue, interest and dividend payments, etc., of all the steam surface railroads in the United States, from 1890 to 1902, inclusive: PAYMENTS FROM EARNINGS PER PV f nt'est Divi- § Gross •VT . Total AVAILABLE REVENUE. MILE OF RR. JJA- penses paid — dends ; Earnings. iNet Earnings. Available Revenue. Tnt.onBds. Dividends. Gross. Net. to Earn- ings. on tot. Bond- ed D't. on tot. share Cap'al. * $ $ $ $ $ $ p.c. p.c. p.c. 1890 . 1,086,039,735 342,071,296 449,712,756 224,499,571 83,575,705 6,875 2,166 68.50 4.44 1.82 1891 . ,125,381,994 350,748,483 451,947,193 228,572,703 89,099,757 6,851 2,135 r.s.x:; 4.41 1.87 1892 . ,169,036,840 352,817,405 467,246, 357 229,909,292 93,862,412 6,852 2,068 69.82 4.25 1.93 1893 . 1894 . ,207,106,026 ,066,943,358 358,648.9181469,815,755 317,757,399 413,916,233 237,677,728 234,702,912 94,29.r),S15 83,478,609 6.963 6,054 2,069 1,803 70.29 70.22 4.31 4.19 1.88 1.66 1895 . ,092,395,437 323,196,454 436,964,529 239.698.134 SI. 0X5,774 6,097 1,804 70.41 4.24 1.58 1896 . ,125,632,025 332,766,979 437,701,890 243,2X7,730 81,528,154 1,840 70.43 4.45 1.52 1897 . ,132,866,626 .•542,792,030 440,423.354234,454,578 s:;,oso,()40 6,228 1,884 69.74 4.24 1.49 1898 . ,249,558,724 389,666,474 494,203,378237,133,098 94,937,526 6,771 2,111 68.16 4.21 1.70 1899 . ,336,096,379 423,941,689 479,561,094 239,178,913 109,032,252 7,161 2,272 68.27 4.24 1.90 1900 . .501,695,378 483,247,526 551,020,460 244,447.806 140,343,653 7,826 2,519 68.93 4.24 2.42 1901 . ,612,448,826 .520,294,727 588,663,541 254,318,380 156.887,283 8,270 2.668 67.73 4.21 2.62 1902 . ,720.814,900 560,026,277 635,269,592 263,237,451 178.2(10.752 8.696 2.830 67.45 4.09 2.93 XIV GROSS AND NET EARNINGS, INTEREST AND DIVIDEND PAYMENTS, ETC., ETC., BY GROUPS OF STATES, 1890-1902: CKOUP 1. — New England States: Maine, New Hampshire, Vermont, Massachu- setts, Kliodt Lsland and Connecticut: PAYMENTS FHOM AVAIL- EARNINGS PER P-v i ,it Divi- J ABLE REVENUE. MILE or RR. J1.X- inc. dends • XJ_A 1 otal paid — E rod wet to on tot H r" Earnings. Earnings. . \ \ :i 1 1:1 1 >K' Revenue. Int. on Bds. Dividends. Gross. Net. Earn- ings. B'nd'd Debt. on tot. Share Cap'l. s $ $ I $ $ 1 p. c. p. c. p. c. 1890... 77,758.298 22,111,742 31,019,732 8,287,463 11,104,645 11,132 3,166 71.56 4.99 4.70 1891... 79,564,133 21,698,202 28,068,59:s 8,308,965 11,542,985 10,875 2,966 72.7:-! 4.93 4.77 1V.IU ... 83,434,898 22,721,232 29,886,440 8,750,02:; 12,547,926 11,379 3,099 72.77 5.25 4.87 1803.. 82,108,460 20,694,289 28,825,738 8,305,101 12,331,830 11,501 2,900 74.80 5.11 4.59 78,578,486 20,310,989 30,230,559 9,064,621 13,860,609 10,545 2,726 74.15 5.32 4.92 1806.!! 82,945,401 21,929,311 32,392,645 9,166,008 13,990,999 10,829 2,863 73.56 5.17 4.87 I.V.Hi 88,607,972 22,063,587 33,976,414 8,004,877 14,100,861 11,441 2,849 75.10 4.78 4.62 1807.. 84,900,841 21,418,192 32,456,242 8,932,758 14,564,623 11,168 2,817 74.77 4.48 5.04 1808.. 86,409,860 21,883,637 32,696,827 8,936,240 14,690,131 11,385 2,883 74.67 4.33 5.13 1800... 88,721,892 22,892,407 24,604,079 8,781,411 14,243,384 11,420 3,167 74.17 4.25 4.71 1900... 97.618,635 24,341,824 26.072,713 9,608,943 14,481,285 12,490 3,094 75.07 4.63 4.94 1901... 97,971,146 24,053,193 26,419,923 9,783,584 14,894,428 12,308 3,022 75.45 4.33 5.12 1902... 94,231,002 21,954,794 23,734,806 10,145,659 15,243,843 12,209 2,845 76.70 4.39 5.22 GROUP 2. — Middle Maryland : States: New York, New Jersey, Pennsylvania, Delaware and 1890... 295,028,394 96,094,404 141,602,259 62,254,443 30,456,989 15,275 4.975 67.43 5.28 2.59 1891... 297,366,910 97,619,698 139,159,652 59,743,087 32,451,974 15,099 4,957 67.92 5.21 2.87 1892... 290,551,581 91,682,500 147,527,902 53,390,512 35,361,689 14,618 4,613 68.45 4.27 3.02 1893... 317,827,375 104,196,397 157,305,657 58,169,109 34,167,593 15,570 5,105 67.21 4.53 2.86 1894... 283,244,831 89,588,533 141,053,467 58,386,355 31,817,369 13,636 4,313 68.37 4.51 2.62 1895.. 302,932,913 97,737,311 148,020,443 58,827,533 31,298,734 13,889 4,465 67.77 4.50 2.56 1896.. 303,985,266 91,717,893 143,478,485 59,284,257 30,565,300 13,639 4,115 69.83 4.44 2.36 1897.. 309,315,400 96,486,180 147,824,681 59,355,391 30,161,895 13,676 4,354 68.81 4.49 2.14 1898.. 326,328,474 103,791,068 157,565,146 61,389,781 30,177,410 14,305 4,550 68.19 4.19 2.09 1899.. 353.422,317 109,968,889 136,774,444 63,823,928 31,321,990 14,888 4,748 68.88 4.35 2.13 1900.. 400,234,942 127,718,241 159,202,772 64,336,137 38,963,656 16,147 5,152 68.10 4.27 2.52 1901.. 433,473,417 144,669,574 175,814,097 68,597,017 43,241,270 17,326 5,782 66.70 4.22 2.65 1902.. 467,981,226 149.232,103 183,938,895 69,864,602 50,245,727 18,316 5,839 68.11 4.07 3.02 GROUP 3. — Central Northern States: Ohio, Michigan, Indiana, Illinois and Wisconsin: 1890... 319,191,098 97,054,501 114,395,332 59,390,572 26,966,201 6,267 1,905 69.59 4.42 2.26 1891... 329,075,649 100,844,470 110,358,107 60,322,414 26,706,279 6,399 1,961 69.36 4.39 2.24 1892... 358,591,952 102,264,457 115,611,426 62,528,972 29,248,857 6,745 1,924 71.48 4.43 2.45 1893... 367,560,006 104,627,283 118,290,990 66,138,582 31,382,555 6,861 1,958 71.65 4.48 2.54 1894... 320,059,579 93,023,365 109,091,000 65,544,675 29,128,780 5,898 1,714 71.00 4.32 2.32 1895... 313,050,555 91,352,512 107,435,854 66,231,194 27,177,231 5,826 1,737 70.89 4.34 2.15 1896... 331,218,672 99,727,589 113,093,576 67,021,826 26,989,483 5,999 1,806 69.89 4.73 2.22 1897... 321,315,638 98,610,058 111,858,432 64,665,093 26,982,854 5,900 1,811 69.31 4.52 2.21 1898... 358,902,464 109,517,286 122,789,447 64,773,531 30,498,102 6,408 1,955 69.49 4.53 2.52 1899... 392,319,231 122,728,568 131,418,147 63,979,919 34,584,480 6,935 2,169 68.72 4.50 2.77 MMH)... 436,896.713 133,061,054 143,124,432 63,774,993 39,099,917 7,628 2,323 69.51 4.41 3.18 1901... 453.121,327 133,217,475 145,751,450 63,721,489 43,877,631 7.913 2,325 70.62 4.32 3.31 1902... 486,046,341 146,197,513 159,768,161 65,428,034 47,447,825 8,336 2,507 69.92 4.41 3.53 GROUP 4. — South Atlantic States: Virginia, West Virginia, North Carolina, South Carolina, Georgia and Florida: 1890... 60.887,375 18,124,613 21,232,082 11,783,685 3,359,552 4,183 1,245 70.23 3.50 0.91 Is'.M.. 66,238,692 19,596,053 24,672,728 15,077,290 4,216,580 3,979 1,177 70.51 4.31 1.13 1892... 66,642,603 19,399,385 24,852,430 14,576,950 4,013,511 3,784 1,101 70.89 3.82 1.06 1893... 70,251,053 17,151,190 21,340,830 14,083,041 2,671,925 3,866 944 75.59 3.57 0.69 1804.. 65,924,149 17,360,653 19,436,146 12,662,121 1,615,090 3,648 961 73.67 3.19 0.43 1895... 71.682,45') 18,657,309 22,732.447 15,672,161 2,225,98* 3,506 91:5 73.97 3.61 0.48 1808. 75,258,454 20,351,047 23,984,416 17,589,379 2,388,587 3,610 976 72.96 3.98 0.47 1897... 75,721,513 21,644,173 25,779,181 17,640,579 2,579.0:55 3,534 1,010 71.42 4.11 0.48 ls!ts 86,305,086 25,666,591 29,453,269 18,548.36:5 :i.067,710 3,925 1,167 71.56 4.28 0.57 ]X9<). 92,114,604 28,610,081 30,635.649 18,960,885 4,436,116 4,087 1,269 68.94 4.32 0.84 1900... 104,726,088 33.214,487 :;.5,4i8.o6i 18,415,498 5,416,211 4,625 1,466 68.28 4.21 0.96 1901... 117,061,838 36,755.997 38,740,071 20,540,172 7,984,968 4,972 1,561 68.61 4.15 1.32 1902... 118,620,581 41,417,362 43,831,197 22,126,699 9,999,667 4,860 1,698 65.08 4.39 1.67 GROUP 5. — Gulf and Mississippi Valley States: Alabama, Mississippi, Tennessee. Kentucky and Louisiana: PAYMENTS FROM AVAIL- EARNINGS PER Divi- S' ABLE REVENUE. MILE OP RR. Ex- Int. dends Gross Net Total penses Paid — Paid H Earnings. Earnings. Available to on tot on tot >H Revenue. Interest on Dividends. Gross. Net. Earn- B'nd'd Share jioncis. ings. Debt. Cap'l. 1890... $ 54,572,123 $ 19,008,139 $ 20,773,764 $ 14,119,817 $ 3,255,818 * 5,703 $ 1,986 p. c. 65.17 p. c. 4.40 p. c. 1.23 1891... 59,917,974 19,078,904 22,730,694 13,271,444 3,128,346 5,583 1,777 68.16 3.81 1.02 1892... 60,472,997 17,101,843 19,593,427 13,473,058 3,407,635 5,300 1,499 71.73 3.64 1 10 1893... 59,498,433 17,487,262 19,700,970 12,455,525 2,928,225 5,343 1,570 70.61 3.35 0.94 1894... 53,125,6.54 16,856,083 17,680,492 12,757,292 530,734 4,284 1,359 68.27 3.52 0.18 1895... 47,359,777 14,268,209 16,359,674 10,818,578 710,549 4,585 1,381 69.87 3.13 0.27 1896... 50,388,895 14,957,308 16,649,047 11,496,909 902,270 4,922 1,461 70.32 3 57 0.37 1897... 50,884,638 15,146,349 16,921,667 11,740,256 1,002,420 5,106 1,520 70.23 3.77 040 1898... 53,222,271 15,738,535 17,937,493 10,548,433 1,175,900 5,501 1,626 70.43 3.35 0.54 1899... 55,689,116 16,553,085 18,076,759 10,393,250 2,751,787 5,898 1,753 70.28 3.35 1.27 1900... 65,312,146 19,602,094 20,774,017 10,767,028 3,065,206 6,085 1,826 69.99 3.53 1.51 1901... 69,678,043 21,098,499 22,207,144 10,709,645 3,644,633 6,617 2,003 69.73 3.94 1.83 1902... 72,431,590 20,444,406 21,768,632 11,313,578 3,714,012 7,056 1,992 71.77 4.41 1.93 GROUP 6. — Southwestern States: Missouri, Arkansas, Texas, Kansas, Colorado and New Mexico: 1890... 129,375,410 37,501,484 47,480,330 28,275,127 3,740,921 4,562 1,322 71.01 3.12 0.49 1891... 134,617,308 33,711,123 43,470,906 31,109,272 3,225,451 4,513 1,130 74.95 3.40 0.40 1892... 143,229,009 39,491,532 45,205,149 35,789,611 1,357,571 4,725 1,303 72.43 3.85 0.17 1893... 145,405,895 38,351,386 46,359,114 34,946,024 2,457,134 4,725 1,246 73.62 3.72 0.30 1894... 124,257,626 31,915,790 36,407,390 35,039,364 1,167,331 4.062 1,043 74.31 3.75 0.13 1895... 128,602,824 30,750,464 37,943,296 37,005,002 993,518 4,051 969 76.08 3.97 0.12 1896... 123,333,067 29,917,781 33,022,745 33,419,554 779,088 3,973 963 75.74 3.85 0.08 1897... 136,848,597 35,981,598 40,409,441 30,143,800 1,926,216 4,301 1,131 73.71 3.36 0.20 1898... 152,100,459 42,257,757 47,016,903 32,174,866 3,323,975 4,856 1,346 72.22 3.78 0.36 1899... 155,039,381 45,252,964 49,423,582 32,750,351 4,192,038 4,851 1,416 70.82 3.72 0.45 1900... 174,172,332 55,556,654 60,707,173 34,808,673 9,105,979 5,344 1,704 68.11 3.90 0.98 1901... 200,120,295 66,783,062 73,295,901 34,565,764 16,825,388 6,061 2,024 66.61 3.80 1.79 1902... 213,903,471 71,379,060 79,293,272 37,419,771 17,950,491 6,228 2,078 66.63 3.69 1.80 GROUP 7. — Northwestern States: Iowa, Minnesota, Nebraska, North Dakota, South Dakota, Wyoming and Montana: 1890... 95,693,634 33,105,599 44,718,950 25,509,195 3,009,706 4,587 1,587 65.40 4.57 0.75 1891... 101,151,665 36,596,751 51,397,047 27,626,256 4,569,737 4,983 1,803 63.82 4.47 1.07 1892... 109,577,386 40,084,125 56,133,610 28,694,253 4,600,188 4,966 1,817 63.42 4.59 1.06 1898... 105,100,545 35,755,226 51,617,904 29,474,197 4,519,942 4,803 1,634 65.98 4.70 0.95 1894... 86,577,672 30,803,971 38,328,332 27,207,724 5,318,756 3,783 1,346 64.42 4.23 1.11 1895... 88,015,556 29,546,496 41,656,110 29,989,920 5,199,112 3,911 1,313 66.43 4.73 1.08 1896... 96,263,277 36,183,840 47,608,985 29,413,890 5,765,539 4.292 1,613 62.41 4.67 1.17 1897... 94,768,008 33,259,773 42,491,178 27,169,819 6,057,997 4,304 1,510 64.90 4.18 1.09 1898... 116,511,484 44,830,266 58,462,721 25,594,646 10,714,520 5,095 1,960 61.53 4.00 1.73 1899... 124,727,925 52,669,419 61,212,201 25,710,185 16,618,747 5,519 2,330 57.78 4.06 2.38 1900... 140,899,320 60,395,738 72,717,383 25,700,066 28,265,158 6,027 2,583 57.14 4.13 4.15 1901... 152,943,017 62,778,694 72,198,358 28,094,910 27,752,054 6.057 2,486 58.96 3.82 4.23 1902... 179,208,811 79,373,928 89,147,615 30,408,970 33,240,500 7,016 3,107 55.71 3.15 4.93 GROUPS. — Pacific States: Washington, Oregon, California, Nevada, Arizona, Utah and Idaho: 1890... 53,533,403 19,070,814 28,490,307 14,879,269 1,678,877 7,258 2,586 64.37 5.99 1.04 1891... 57,449,66H 21,603,282 32,089,466 13,113,975 3,258,405 6,906 2,597 62.40 5.02 1.01 1892... 56,536,414 20,072,331 28,435,933 12,705,913 3,325,035 6,398 2,272 64.50 4.69 1.05 1893... 59,354,309 20,385,885 26,374,552 14,106,149 3,836,611 5,778 1,984 65.65 5.51 1.16 1894... 55,175,361 17,898.015 21,688,847 14,040,760 40,000 5,246 1,702 67.57 4.94 0.01 1895... 57,805,956 18,954,842 30,424,060 11,987,738 89,643 5,507 1,806 67.45 4.18 0.03 1896... 56,575,922 17,847,934 25,888,222 17,057,038 97,026 5,103 1,610 68.45 6.09 0.01 1897... 59,111,991 20,245,707 22,682,522 14,806,882 405,000 4,942 1,693 65.75 5.00 0.11 1898... 69,778,626 25,981,334 28,281,572 15,167,239 1,289,778 r>.7i i 2,127 62.77 5.17 0.37 1899... 74,061,913 25,266,276 27,416,23.3 14,772,984 883,710 6,185 2,110 65.89 5.03 0.24 1900... 81,835,202 29,357,434 33,003,009 1 7.036,468 1,946,241 6,497 2,331 64.13 4.97 n '..' 1901... 88,079,743 30,938,233 34.236,597 18,305,799 666,911 7,084 2,488 64.88 5.69 0.19 1902... 88,391,887 30,027,111 33,787,014 16,530,138 431,687 7,525 2,556 66.03 5.66 0.13 xvi Statement showing miles of railroad, capital stock, bonded debt, bonded debt per milt-, and cost of all steam railroads in the United States from 1880 to 1902: TOTAL STOCK, BONUS AND UNFUNDED DEBT, REPRE- CAPITAL, STOCK. BONDED DEBT. SENTING APPROXIMATELY Milee of COST OF ROAD AND LQUIP- Yh Mi. Railroad. MENT. Total. Per Mile. Total. Per Mile. Total. Per Mile. ISM p. MiUs. 92,147 $ 2,708,673,375 $ 29,395 2,530,874,943 $ 27,466 $ 5,402,038,257 S 58,624 1881. 103,530 3,177,375,179 30,690 2,878,423,606 27,803 6,278,565.052 60,645 1882. 114.428 3,478,914,224 30,403 3,214,084,323 28,088 6,960,649,277 60,830 1883. 120,519 3,675,793,383 30,500 3,479,411,914 28,870 7,423,040,203 61,592 1884. 120,119 3,726,655,041 29,785 3,647,312,772 29,151 7,617,986,410 60,886 1885. 127.689 3,778,609,737 29,592 3,740,255,066 29,292 7,775,858,194 60,897 1886. 133,565 3,956,377,408 29,621 3,853,748,330 28,853 8,089,268,441 60,564 1887. 147,953 4,146,968,214 28,029 4,155,628,116 28,087 8,595,041,451 58,093 1888. 154,222 4,392,287,224 28,480 4,585,471,523 29,733 9,281,914,605 60,185 1889. 159,934 4,447,103,600 27,806 4,784,173,271 29,913 9,576,939,854 59,881 1890. 163,359 4,590,471,560 28,101 5,055,225,025 30,945 10,020,925,215 61,343 1891. 167,846 4,751,750,498 28,310 5,178,821,989 30,855 10,275,675,119 61,221 1892. 171,805 4,863,119,073 28,306 5,405,049,969 31,460 10,553,624,329 61,428 1893. 175,442 5.021,576,551 L's,r>i>2 5,510,225,528 31,408 10,941,711,122 62,367 1894. 178,054 5,027,604,717 28,236 5,605,775,764 31,484 11,016,308,315 61,871 1895. 179,821 5,181,373,599 28,814 5,648,659,436 31,413 11,248,569,658 62,554 1896. 181,394 5,373,187,619 29,621 5,461,856,798 30,110 11,179,544,386 61,631 1897. 183,547 5,602,964,449 30,526 5,534,432.492 30,153 11,518,066,646 62,753 1898. 184,894 5,581,522,858 30,188 5,635,363,594 30,479 11,585,069,036 62,658 1899. 187,781 5,742,181,181 30,579 5,644,858,027 30,061 11,692,817,066 62,208 1900. 192,162 5,804,346,250 30,205 5,758,592,754 29,967 11,891,902,339 61,884 1901. 195,887 5,978,796,249 30,521 6,035,469,741 30,811 12,326,491,526 62,926 1902. 199,685 6,078,290,596 30,439 6,465,290,839 32,377 12,853,927,302 64,371 RAILROAD CAPITALIZATION A suggestive comparison of freight an and bonds during the past twenty years, is Per Ton I Interest, Dividends, per Mile, Average Average Average Rate. Rate. Rate. p. c. p. c. Cents. 1883 4.94 2.76 1.224 * AND RETURN THEREON. d passenger rates, and the return on stocks brought forth in the following table *er Passenger Earnings per Mile of RR. per Mile, in Operation. Percentage Rate. Gross. Net. to Earnings. Cents. $ $ 2.422 7,405 2,679 63.82 2.356 6,663 2,318 65.22 2.199 6,209 2,163 65.17 2.194 6,570 2,376 63.83 2.276 6,799 2,418 64.44 2.246 6,540 2,045 68.72 2.169 6,446 2,066 67.95' 2.174 6,875 2,166 68.50 2.184 6,851 2,135 68.83 2.168 6,852 2,068 69.82 2.072 6,963 2,069 70.29 2.025 6,054 1,803 70.22 2.069 6,097 1,804 70.41 2.032 6,223 1,840 70.43 2.029 6,228 1,884 69.74 1.994 6,771 2.111 68.16 2.002 7,161 2,272 68.27 2.031 7,826 2,519 68.93 2.028 8,270 2,668 67.73 2.012 8,696 2,830 67.45 Iroad corporations of the United States a ve, of their mileage owned, average interest Number Miles Average Average of RR. RR. Interest Dividends YEARS. Systems. Owned, on Bonds, on Stock. No. Miles. p. c. p. c. 1896 61 85871 4.69 1.62 1884 4.82 2.50 1.124 1885 4.97 2.00 1.057 1886 4.86 2.02 1 042 1887 4.86 2.17 1.034 1888 4.48 1.80 0.977 1889 4.53 1.79 0 970 1890 4.44 1.82 0927 1891 . . . 4.41 1 87 0 929 1892 4.25 1.93 0 941 1893 4.31 1.88 0 893 1894 4.19 166 0864 1895 4.24 1.58 0 sno 1896 4.45 1 52 0 821 1897 4.24 1.49 0797 1898 4.21 1.68 0758 1899 4.24 1 90 0 726 1900 4.24 2 42 0 746 1901 4.21 2.62 0 756 1902 4.07 2 93 0 764 Statement showing for the leading ra summary for the years 1890 to 1900, inclusi on bonds and average dividends on stock: Number Miles Average Average of RR. RR. Interest Dividends YEARS. Systems. Owned, on Bonds, on Stock. No. Miles. p. c. p. c. 1890 65 70,574 4.66 2.13 1891 65 73,627 4.72 2 29 1897 61 86129 468 1.69 1892 65 77,593 4.83 227 1898 61 89 566 4 49 1.86 1893 64 80,301 471 239 1899 60 90 084 4 54 2 27 1894 62 81,101 4.70 2 06 1900 60 94'l28 4 38 2.89 1895 61 85.189 4.52 184 Railroad Map of Maine, New Hampshire and Vermont. Poor's Manual— Railroad Map of the United States, 1903. 73° Longitude Wttt 71° from MAINE, NEW HAMPSHIRE AND VERMONT. Railroad Map of Maine, New Hampshire and Vermont. H. W. POOR & CO., BANKERS, NEW YORK. BOSTON. Orders Executed fop all Securities Dealt in at the New York Stock Exchange. RAILWAY INVESTMENT A SPECIALTY. We are in correspondence with nearly every Railroad Company in the Country through our connection with "POOR'S MANUAL OF RAILROADS," which gives us special advantages for in- formation for the benefit of our customers. Correspondence Invited. Interest allowed on Deposits, subject to Check at sight. 33 WALL ST., 52 DEVONSHIRE ST., NEW YORK. BOSTON. POOR'S MANUAL OF RAILROADS 1903. NEW ENGLAND QROTJP— States of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island and Connecticut BANGOR AND AKOOSTOOK EAILEOAD COMPANY. (For map of this road, see page 2.) . - „ Jf v / 1 / / INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock, Description of. 7 Car Trust Bonds 9 Directors and Officers 11 Earnings, Expenses, etc 4 Funded Debt, Details of 8. Gen. Bal. Sheet, June 30, 1902. 6 Guaranteed Bonds 8 History 2 Income Account. June 30, 1902 4 Leased Line, Statements of.. 10 Miles Operated, June 30, 1902. 1 Operations, year 1901-02 4 Operations & Income.1895-1902 5 Rolling Stock 8 1. Main Line. — Brownville to Caribou, Me 154.14 milea. Fort Fairfield Branch: Fort Fairfield Junction to Fort Fairfield, Me 13.30 Ashland Branch : Ashland Junction to Ashland, Me 42.64 Piscataquis Division : Oldtown to Greenville, Me 76.00 Van Buren Extension: Caribou to Van Buren, Me 33.11 Bangor and Katahdin Iron Works Ry.: Milo June, to Kat. Iron Works, Me. . 19.02 Aroostook Northern RR. : Caribou to Limestone, Me 15.91 Patten and Sherman RR. : Patten Junction to Patten, Me 5.65 Sundry Spurs 11.13 Total length of railroad, June 30, 1902 370.90 miles. Sidings, etc., 67.55 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 70 Ibs. 2. History.— Chartered March 5, 1891; main line to Caribou and branch to Fort Fairfield opened on January 1, 1895; branch to Ashland on January 1, 1896. The Ban- gor and Piscataquis RR., from Oldtown to Greenville, was purchased as of April 1, 1899 (see MANUAL for 1899, page 3). The Van Buren extension was opened on Novem- ber 16, 1899. The company purchased the Aroostook Northern RR., the Bangor and Katahdin Iron Works Ry. and the Patten and Sherman RR. during the year ending June 30, 1902. The bonds of the Bangor and Katahdin Iron Works Ry. and of the Patten and Sherman RR. have been retired and cancelled, and those of the Aroostook Northern RR. have been assumed. The Fish River RR., from Ashland to Fort Kent, Me., 52 miles, was put in operation December 15, 1902. It will be operated under lease by this com- pany until authority is obtained to purchase it outright. 3. Rolling Stock, June 30, 1902. — Locomotives, 57. Cars — passenger, 34; combina- tion, 10; baggage, express and postal, 15; freight (box, 1,438; stock, 70; flat, 1,651), MAP OF THE BANGOR & AROOSTOOK BAILROAD AND CONNECTIONS. POOR'S MANUAL — BANGOR AND AROO8TOOK RR. CO. 8 3,169; service, 86— total, 3,303. Of the cars, 1,195 box, 70 stock, 1,658 flat, and 21 caboose were covered by the car trusts outstanding on June 30, 1902 (see Sec. 9). 4. Operations, year ending June 30,1902. — Revenue train mileage — passenger, 543, 884; freight, 550,367; mixed, 5,474 — total, 1,099,725 miles. Passengers carried, 421,763; carried one mile, 16,738,831; average mile rate, 2.48 cents. Tons freight moved, 925,611; moved one mile, 84,338,878; average ton-mile rate, 1.34 cents. EARNINGS. 1900-01 1901-02 Passenger $359,46690 $415.21770 Freight 984,022 54 1,149,008 14 Mail and Express 46,62234 55,28778 Miscellaneous 59,342 70 89,423 37 Totals $1,449,454 48 $1,708,936 99 Averages per Mile.... 3,90825 4,60754 EXPENSES. 1900-01 1901-02 Maint. of Way and Struc. $285,379 38 $378,307 22 Maint. of Equipment 98,52967 119,84671 Conduct. Transportation. . 455,87278 633,19971 General Expenses 68,64054 70,53061 Totals $908.422 37 $1,101,884 25 Averages per Mile. . . . 2,449 44 2,970 83 Net earnings, 1901-1902 (35.53 p. c.), $607,052.74. Payments: Interest on funded debt ( Piscataquis Div. bonds, $75,000; 1st mtge. bonds, $1 68,000 ;2d mtge. bonds, $8,016.67; Van Buren Extension bonds, $25,000; con. ref. mtge. bonds, $70,416.70; car trust bonds, $48,000; car trust "B" notes, $9,156.67), $403,590.04; other interest, $13,909.59; rental of Aroostook Northern RR., $11,301; taxes, $5,279.47; betterments, $118,741.15— total, $552,821.25. Surplus, $54,231.49; surplus forward, $30,498.17; miscellaneous credit, $9,800— total, $94,529.66. 5. Statement of operations and income account for eight years ending June 30: R.R.Oper. Pass. Freight YRS. (Aver.) Carried Moved. Miles. No. Tons. 1895. . 226.60 194,574 257,609 1896. 285.00 229,940 295,401 1897. .306.75 220,213341,725 1898. . 322.65 228,838 323,190 1899. . 321.05 239,092 408,856 1900. . 364.05 315,747 638,974 1.227i916 1901 . . 370.87 348,558 814,797 1,449,454 1902. Gross Operat'g Earn'gs. Kxpen. 581,836 699,661 754,781 756,503 929,254 $ 381,541 441,958 461,115 451,943 573,161 742,338 908,422 .370.90 421,763925,611 1,708,9371,101,884 Net Net Taxes & Bond Total Balance Karn'ga. Income. Rent. Interest. Paym'ts. (+or — ) $ $ S * $ 200,296 200,296 74,359 104,800 182,098 451,901 257,704 257,704 85,173 142,550 230,507 --27,197 293,666 293,666 86,053 185,350 274,708 --18,958 304,560 327,264 93,448 194,401 295,282 +31.981 356,092 356,092 79,820 210,751 307,226 -H8.867 485,578 488,085 25,605 330,163 434,965 +63,120 541,032 541,032 27,940 381,929 411,424 +129,608 607,053 607,053 16,580 403,590 552,821 +54,231 6. General Balance Sheet, June 30, 1902. Cost of Road $8,711,731 67 Cost of Equipment 2,330,579 77 Aroostook Northern Common Stock. . . 17,896 48 Real Estate 41,507 40 Materials and Supplies 203,730 58 Cash 270,36478 Current Accounts 148,573 96 Total assets $11,724,384 64 Common Stock Paid in ($100 shares) . $1.060,000 00 Preferred Stock Paid in ($100 shares) 64.400 00 Funded Debt Outstanding (see below) 9.283,000 00 Car Trust Bds. and Notes (see below) 860,000 00 Current Liabilities 185.109 ' Interest and Rentals Accrued 187,345 Profit and Loss 94.629 Total Liabilities.. . . . .$11.724.384 64 7. Capital Stock — The authorized capital stock is $2.378,000 In $100 shares — 10,500 shares of common stock and 13,280 shares of preferred stock, the latter being entitled to 5 p. c. non-cumulative dividends. All of the common stock and 12,466 full-paid shares of the pre- ferred stock were issued, besides a small amount of preferred stock scrip. Provision was made for the retirement of the preferred stock, in the mortgage securing the consolidated refunding bonds, and up to June 30, 1902, all except $64,400 of such stock had been retired. 8. Funded Debt — The funded debt outstanding on June 30, 1902 — total, $9.283,000. as per general balance sheet — consisted of the following issues : f3,36O,OOO 1st gold 5s of Jan. 1, 1943; au- thorized issue, $16,000 per mile. Secured on the main line, Fort Fairfleld Branch and Ashland Branch, a total of 211.35 miles. f 157,000 2d gold 5s of July 1, 1945. Secured on the same property as, but subject in lien to, the 1st mtge. bonds. 91,5OO,OOO Piscataquis Division 1st gold 5s of Jan. 1, 1943. Secured by 1st mtge. on the line from Oldtown to Greenville, Me., 76 miles, on the repair shops in Oldtown, and on the improve- ments and new work provided for in the mort- gage. f 500,000 Van Buren Extension 1st gold 5s of Jan. 1, 1943. Secured by 1st mtge, on the line B from Caribou to Van Buren, Me., 33 miles, and on the equipment and appurtenances thereof. f2,813,OOO consol. refund, gold 4s of Jvly 1. 1961, out of a total of $20,000,000 of such bonds au- thorized. Of the unissued bonds, $12.687.000 are reserved for the retirement of the preferred stock, the underlying mortgage bonds and the car trust obligations, as well as to provide for additions and improvements, the bonds reserved for addi- tions and improvements being issuable at not ex- ceeding the rate of $250,000 a year. The remain- ing $4,500,000 of bonds are to be used only for ex- tensions, and for the acquisition of, and to dis- charge any liens on, other railroads : the issue for either of the purposes mentioned not to ex- ceed the rate of $25.000 per mile of road. Including 4 POOR'S MANUAL OF RAILROADS — NEW ENGLAND GROUP. equipment. The mortgage covers the entire prop- erty of the company, whether now owned or here- after acquired through the issue of the bonds it secures . subject, however, to prior Hens. It is provided that old bonds taken up shall not be canceled until at least 99 p. c. of the class to which they shall respectively belong shall have been retired, but that in the meantime they shall be stamped " not negotiable " and deposited with the trustee under this mortgage as additional se- curity therefor. f 225,OOU Arooatook Northern RR. 1st 5s of Oct. 1, W47, assumed by Bangor and Aroostook RR. Co. Secured on the line from Caribou to Lime- stone, Me., 15.91 miles. 9.100,000 Aroostook County 41s of Sept. 1, 1912. guaranteed by Hangor and Aroostook RR. Co., both principal and interest. f 228.OOO Arooatook County 41* of July 1, 1915, guaranteed by Bangor and Aroostook RR. Co., both principal and interest. 9. Car Trust Bond*. — The $860,000 outstanding on June 30, 1902, consisted of $180,000 (original issue, $400,000) 6 p. c. Series A bonds, dated Oct. 1, 1896, payable $20,000 each 1st of April and Oct.; and $680,000 (original issue, $800,000) 5 p. c. gold Series B bonds, dated July 1, 1900, payable $40,000 each 1st of April, and Oct., beginning April 1, 1901. The " Series A " bonds cover 758 flat, 425 box, 20 stock and 15 caboose cars ; " Series B " bonds cover 800 flat, 770 box, 50 stock and 6 caboose cars. The $210,000 equipment notes were retired dur- ing the year ending June 30, 1902. 1O. RAILROAD LEASED BY THE BANGOR AND AROOSTOOK RR. Co. PISH RIVER RR — Ashland to Fort Kent, Me., 52.5 miles. Gauge, 4 ft. 81 in. Rail (steel), 70 IDS. HISTORY. — Chartered Sept. 13, 1901; road opened Dec. 15, 1902. Operated under lease by the B. & A. RR. Co., pending its absorption by pur- chase and merger. FINANCIAL STATEMENT. — Capital stock, 1600,000. Estimated cost of road to completion, $1,170,000. There Is provision for an issue of 1st mtge. 50-yr. bonds to mature Jan. 1, 1952, the total issue not to exceed $1,400,000, or at the rate of $25,000 per mile. The mortgage provided for an equal amount of notes to be issued prior to the issuing of the bonds, such notes to be dated Jan. 1, 1902, mature July 1, 1903, and bear interest at the rate of 5 p. c. per annum. CORPORATE OFFICERS. — F. W. Cram, Prer ; B. B. Thatcher, Vice-Pros. ; Edward Stetson, Treas. ; F. H. Appleton, Sec., Bangor, Me. Office, Bangor, Me. 11. Board of Directors, Bangor and Aroostook RR. Co., elected October 21, 1902. F. W. Cram Bangor, Me. I B. B. Thatcher Bangor, Me. I C. A. Gibson Bangor, Me. A. A. Burleigb Houlton, Me. | F. H. Appleton " " | H. P. Oliver Edward Stetson Bangor, Me. F. W. CBAM, President Bangor, Me. A. A. Burleigh, V 'ice-President Houlton, Me. Treasurer — Edward Stetson Bangor, Me. [Secretary — F. H. Appleton Bangor, Me. Cashier — F. C. Plalsted Bangor, Me. PRINCIPAL OFFICE AND ADDRESS Bangor, Me. BOSTON AND MAINE RAILROAD SYSTEM. The system of railroads owned, leased or operated by the Boston and Maine RR. on June 30, 1902, aggregated in length of main track 2,326.67 miles, as follows: Boston and Maine Railroad and Leased Lines 2,265.50 miles. Sullivan County Railroad 26.00 " Vermont Valley Railroad 24.00 " York Harbor and Beach Railroad. . 11.17 " Total mileage of system operated by B. & M. RR 2,326.67 miles. Although the Sullivan County RR., the Vermont Valley RR., and the York Harbor und Beach RR. are operated directly by the Boston and Maine RR., their operations arc not included in the report of the operating company, which simply acts as agent for the owners. The Vermont Valley and the Sullivan County are controlled in the interest of the Connecticut River RR. Co., a leased company of the Boston and Maine RR. The Boston and Maine RR. owns and operates an electric branch over the principal streets of Portsmouth, N. H., and through the towns of Rye and North Hampton to Rye Beach Station. An electric branch of the Concord and Montreal RR. is projected from Concord to Nashua, N. H. The section between Concord and Manchester, 18 miles, was opened for traffic on Aug. 11, 1902. The following statement shows in detail the mileage (exclusive of trackage rights) of the system, and its capitalization, on June 30, 1902. The amounts of stocks and bonds afloat represent the securities outstanding, the difference between such amounts and the POOR'S MANUAL — BOSTON AND MAINE3 BY8THM. total capitalization being the amounts of capital stock and of funded debt held by com- panies of the system: NAME OP ROAD. Road Owned. CAPITAL STOCK. FUNDED DEBT. TOTAL CAPITALIZATION. Total Issue. Amount Afloat. Total Issue. Amount Afloat. Total. Afloat. Boston and Maine R.R. . . . Averages pet Mile Miles. 619.08 $ 26,787,871 43,270 6,529,400 2,500,000 800,000 800,000 385,000 300,000 240,000 7,197,600 350,000 250,000 500,000 84,000 541,500 341,700 789,300 2,630,000 58,300 24,360,000 150,800 3,193,000 65,000 625,000 1,000,000 200,900 3,068,400 412,400 45,000 3,099,800 * 25,494,311 41,181 6,529,400 2,500,000 800,000 800,000 385,000 300,000 240,000 7,197,600 350,000 $ 29,597,442 47,809 8,528,000 1,900,000 S 27,597,442 44,578 8,528,000 1,900,000 $ 56,385,313 91,079 15,057,400 4,400,000 800,000 800,000 385,000 300,000 240,000 13,828,600 350,000 250,000 1,000,000 84,000 541,500 341,700 789,300 5,210,000 183,300 46,024,000 150,800 4,193,000 65,000 625,000 1,274,000 500,900 3,068,400 912,400 210,000 4,875,800 $ 53,091,753 85,759 15,057.400 4,400,000 SOO.tXK) 800,000 385,000 soo.opo 240,000 13,828,600 350.000 Leased Railroads Boston and Lowell 111.75 110.30 35.46 14.50 10.50 13.16 15.50 305.41 39.87 4.95 20.12 5.19 22.93 17.41 33.69 79.85 9.26 394.14 5.04 58.58 4.50 8.85 22.39 26.98 82.91 70.90 18.51 94.48 Massawippi Valley Nashua and Lowell Peterborough Stony Brook Wilton Concord and Montreal .... Concord & Portsmouth. . Franklin and Tilton .... Nashua, Acton & Boston New Boston 6,631,000 6,631,000 500,000 60,000 503,400 261,600 25.000 2,630,000 11,200 17,360,000 150,800 3,193,000 65,000 625,000 1,000,000 63,900 3,068,400 409,200 45,000 3,099,800 500,000 3,600 503.600 60,000 503,400 261 ,600 25,000 5,210,000 11,200 39.024.000 150,800 4.193,000 65,000 625,000 1,274,000 63,900 3,068,400 909,200 145,000 4,875,800 Pemigewasset Valley . . . Suncook Valley Whitefield & Jefferson . . Connecticut River 2,580,000 125,000 21,664,000 2,580,000 Danvers Fit chburg 21,664,000 Troy and Bennington . . . Vermont & Mass 1,000,000 1,000,000 Kenneb'k & Kennebunkp . Lowell and Andover Manchester and Lawrence.. Newburyport 274,000 300,000 274,000 Northern Concord and Claremont . Peterborough & Hillsb.. . Worcester, Nash. & Roch. Total Leased Roads . . Averages per Mile. . . . 500,000 165,000 1,776,000 500,000 100,000 1,776,000 1,637.13 59,727,800 36,483 500,000 1,000,000 300.000 52,724,600 32,205 45,943,000 28,063 357,000 800,000 44,956,600 27,461 357,000 800,000 105,670,800 64,546 857,000 1,800,000 300,000 97,681,200 59,666 357,000 1.313,300 46,450 Operated Railroads. Sullivan County 26.00 24.00 11.17 Vermont Valley 513,300 46,450 York Harbor & Beach Total Operated Roads . Averages per Mile 61.17 1,800,000 29,428 559,750 9,151 1,157,000 18,916 1,157,000 18,915 2,957,000 48,343 1,716,750 28.066 Grand Totals 2,317.38 88,315,671 38,111 78,778,661 34,081 76,697,442 33,097 75,711,042 32,671 165,013.113 71,208 154.489.703 00,752 Averages per Mile. . . BOSTON AND MAINE RAILROAD. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 7 Construction Account 10 Directors and Officers 17 Earnings, etc., 1901 & 1902. ... 13 Funded Debt, Details of 8 Gen. Bal. Sheet, June 30, 1902. 7 Gen. Balance Sheet, 1896-1902 15 Guaranteed Bonds 10 History 1 Income Acct, June 30, 1902... 13 Investments 11 Leased Lines, Statements of. 16 Leased Lines, Summary of.. 14 Lease Rentals in Detail 16 Mileage Operated, June 30, 1902 2 Operations & Income 13 Rolling Stock 4 Securities Owned and Other Investments 11 Sinking Funds 13 Trackage Contracts 3 1 . History. — Consolidation, May 9, 1890, of the Boston and Maine RR., Eastern RR. Co., and Portsmouth, Great Falls and Conway RR. Co. The Eastern RR. in New Hamp- shire was absorbed on June 1, 1899; the Portsmouth and Dover RR., Portland, Saco and Portsmouth RR., and Portland and Rochester RR. on Jan. 1, 1900; and the Central Mas- sachusetts RR. on April 1, 1901 (see MANUAL for 1897, page 318, and MANUAL for 1901, page 4). During the year ending June 30, 1902, the Portsmouth Electric Branch was extended 1.87 miles, and the Asbury Grove Branch, 1.06 miles, was abandoned and dis- mantled. 6 POOR'S MANUAL OF RAILROADS NEW ENGLAND GROUP. Purchase of Central Mass. RR. Stock. — During the year ending June 30, 1902, the company purchased 1,234 shares of preferred stock and 389 shares of common stock of the Central Massachusetts RR. Co., at a cost of $86,878.96. The shares thus acquired, together with those previously purchased, made a total of 39,216 of the preferred stock and 34,105 of the common stock. Between June 30, 1902, and the date of the annual meeting, Oct. 8, 1902, a few additional shares were purchased, and there remained out- standing on the latter date 216 shares of the preferred stock and 684 shares of the com- mon stock. Additional Stock and Bonds Authorized. — At the annual meeting held Oct. 8, 1902, the stockholders voted to issue $1,000,000 of additional common stock and $2,000,000 of new 20-year bonds, for the purpose of funding floating indebtedness of the company and to provide for its future needs for abolishing grade crossings, purchasing additional equipment, making permanent improvements to the road, and other necessary and lawful purposes. As of January 1, 1903, the company issued $1,000,000 of the bonds, bearing interest at the rate of 3% per cent, per annum, and 2,000 shares of the stock. 2. Mileage of Road, June 30, 1902.— A. LINES OWNED (619.08 miles). Western Division: Boston, Mass., to Portland, Me 115.31 miles. Eastern Division: Boston, Mass., to Portland, Me 108.29 " Northern Division: Conway Junction, Me., to Intervale Junction, N. H 73.37 " Southern Division: North Cambridge Junction, to Northampton, Mass.... 98.77 Worcester, Nashua & Portland Div. : Portland, Me., to Rochester, N. H. . . 53.86 Saugus Branch : Everett to Lynn, Mass 9.55 Ijaiorence Branch, Eastern Division: Salem to North Andover, Mass 19.89 South Reading Branch: Peabody to Wakefield, Mass 8.12 Gloucester Branch : Beverly to Rockport, Mass 16.94 Essex Branch : Wenham to Essex, Mass 6.00 Dover and Winnipiseogee Branch: Dover to Alton Bay, N. H 29.00 Wolfboroitgh Branch: Sanbornville to Wolfborough, N. H 12.03 Portsmouth and Dover Branch: Portsmouth to Dover, N. H 10.88 Portsmouth Electric Ry.'. Portsmouth to Rye Beach, N. H 18.34 Other Branches: Medford, 2 m. ; Methuen, 3.75 m. ; West Amesbury,4.45 m. ; Orchard Beach, 3.27 m.; Charlestown, 1.09 m.; East Boston, 3.47 m.; Chelsea Beach, 3.34 m. ; Swampscott, 3.96 m. ; Marblehead, 3.52 m.; Newburyport City, 1.97 m. ; Salisbury, 3.79 m. ; Somersworth, 2.75m.; Lowell and Lawrence and Lowell and Andover Connection, Lowell (0.37 m. of double track, of which 0.12 m. of single track is owned by L. & A. RR.), 0.25m.; Union (Portland), 1.12 m 38.73 B. LEASED LINES (See Section 15 of this statement for details) 1,637.13 C. TRACKAGE RIGHTS (total 9.29' miles) : Grand Trunk Ry. : Lennoxville to Sherbrooke, Que 2.95 N. Y., N. H. d H. RR.: North Acton to Concord, June., Mass 4.21 Troy Union RR. : At Troy, N. Y 2.13 Total length of lines operated as B. A M. RR., June 30. 1902 2,265.50 miles. 2d track (owned, 167.80 m.; leased, 336.09 m.; trackage rights, 9.07 m.), 512.96 m.; 3d track (owned, 2.26 m.; leased, 6.05 m.), 8.31 m.; 4th track (leased), 2.02 m.; sidings (owned, 333.47 m.; leased, 862.42 m.), 1,195.89 miles. Total track (owned, 1,122.61 m.; leased and trackage rights, 2,862.07 m.), 3,984.68 miles. Rail (steel — owned, 1,048.74 m.; leased, 2,733.72 m.— total, 3,782.46 m.), 65 to 100 Ibs. 3. Trackage Rights. — Th.e contract for trackage rights between North Acton and Concord Junction, Mass., 4.21 miles, is dated Feb. 18, 1891, the parties being the Old Colony RR. (now leased to the New York, New Haven and Hartford RR. Co.) and the Concord and Montreal RR. (now leased to the Boston and Maine RR.). The annual rental is $3,082.20, being 6 per cent, on the cost of the line, $51.370. The contract for use of the line from Sherbrooke to Lennoxville, Que., 2.95 miles, is between the Grand Trunk Ry. Co. and the Connecticut and Passumpsic Rivers RR. Co. It is dated Sept. 23, 1873, and provides for a fixed annual rental of $1,750 for use of track and buildings. Track- POOR'S MANUAL BOSTON AND MAINE SYSTEM. age rights over the Troy Union RR. are secured through one-quarter ownership by the Fitchburg RR. Co. of the capital stock of the Troy Union RR. Co., another one-quarter being owned by the Delaware and Hudson Co. and the remaining one-half by the New York Central and Hudson River RR. Co. The entire expenses of the Troy Union RR. are divided between the three proprietary companies on the basis of ownership. 4. Rolling Stock, June 30, 1902. — Locomotives (passenger, 380; freight, 357; switching, 219), 956. Cars, 19,299 as follows: PASSENGER TRAIN CARS. Passenger *1,181 Parlor 9 Directors' and Pay Baggage *201 Mail 26 Express 64 Milk 54 Air Brake Instruction 2 Electric Passenger 22 FREIGHT TRAIN CARS. 8- wheel Box 7,322 8-wheel Box — Caboose.... 284 4-wheel Box — Caboose — 70 8-wheel Stock 142 8-wheel Platform 3.287 8-wheel Sideboard Coal.. 80 8-wheel Coke 166 8-wheel Coal 4,189 4-wheel Coal Dump 1,549 8-wheel Refrigerator 132 Logging Trucks =8- wheel 62 OTHER EQUIPMENT. 8-wheel Tool — Box 96 8-wheel Boarding 104 8- wheel Derrick 60 4-wheel Derrick 9 8-wheel Pile Driver 8 8-wheel Flanger 22 Other Cars 53 Steam Shovels 13 Snow-plows 93 Electric Snow-plow 1 Other Electric Cars 1 Total 17,283 Total 1,566 Total = 8-wheel 16,4331 Total 450 •Includes 10 passenger and 4 baggage cars, 30.5 p. c. of which are owned by the Boston and Lowell RR. Corporation, 37.83 p. c. by the Concord and Montreal RR., and 31.67 p. c. by the Canadian Pacific Ry. Co. 5. General Income Account, year ending June 30, 1902. Earnings— Passenger $11,557,583 46 Freight 18,124,636 31 Mail and Express 1,337,016 23 Miscellaneous 821,458 00 Total ($14,054.60 per mile) $31,840,694 00 Net Earnings, 1901-02 (29.55 p. c.) $9,407,542 81 Rents of Tenements, Land, etc., (net) . . 331,562 74 Income from Investments '. 201,55740 Interest 32,915 40 Miscellaneous Income ( net) 23,865 61 Expenses— Maint of Way and Struc. . . $3,987,359 66 Maint. of Equipment* 3,346,484 48 Conducting Transportation 14,364,117 0(1 General Expenses 735,190 05 Total ($9,902.08 per mile) $22,433,151 19 Taxes and Revenue Stamp Tax $1,629,513 jflJ Interest on Debt ( see below) 1,366,996 Rentals of Leased Roads (see below) . . 5,058,589 Sundry Track Rentals 4,332 Sinking Funds (net) 151,28500 Dividends on Preferred Stock (Paid).. 188,988 (X Dividends on Common Stock (Paid) ... 1,575,371 00 Net Income. . , $9,997,443 96 Total Payments $9,975,076 63 *In addition to the ordinary expense of maintaining the equipment, this Item Includes $563,238.83 expended for new equipment. Surplus for year, $22,367.33, carried to contingent fund. Interest on Detit. — Interest on funded debt (three issues of B. & M. sinking fund 4s, $136,760; B. & M. plain 4s, $100,000; B. & M. plain 4|s, $270,000; B. & M. plain 3s, 5163,620; B. & M. plain 31s, 8 mos., $23,333.34; E. RR. $ certificates, $396,725; E. RR. £ certificates, $90,906.21 ; two issues of P., G. F. & C. RR. 1st nitge. 41s, $45,000 ; P. & R. RR. terminal 4s. $4,540; Cent. Mass. RR. 1st 5s, $100,000), $1,330,884.55; interest on real estate mortgages, notes, etc., $36,112.14 — total, $1,366,996.69. Dividends Pnl«l. — On preferred stock, Sept. 2, 1901, and March 1, 1902. 3 p. c. each; on common stock, Oct. 1, 1901, Jan. 1, April 1, and July 1, 1902, If p. c. each. See also General Index for table of Dividends Paid by Railroad Companies in 1896-1903. 6. General Balance Construction $42,168,983 51 Equipment 5,212,347 89 Stocks and Bonds Owned (see Sec. 11) 10,580,654 51 Real Estate and Other Investments... 1,428,298 06 Materials and Supplies 2,694,77005 Cash 2,083,524 62 Trustees of Sinking Funds 1,145,869 35 Bills Receivable 926,945 81 Current Accounts and Balances 3,896,074 55 Improvement Accts. of Leased Roads. 1,024,422 98 Elimination of Gr. Cross'gs in Process 365,526 06 Other Assets 490,721 99 Sheet, June 30, 1902. Capital Stock Liability (see Sec. 7) . .$26,787,870 70 Premium on Common Stock Sold 2,091,218 Funded Debt Outstanding (see Sec. 8) 29,597,441 Real Est. Mtgs.,4 p. c.,due Sept. 1, 1906 Current Liabilities M?i'5?2 ™ Accrued Taxes, Rentals and Interest. 1.315,612 Lease Accounts of Sundry Railroads. 2,095,939 Injury Fund..... iffiffi 33 Contingent Fund ••• . JJJSP5! Sinking Funds for Redemp. of Bonds. l.fH.jM £.\ Suspense Account Profit and Loss 1.5fo,165 Total Assets $72,018,13938 Total Liabilities 7. Capital Stot-k — Capital stock liability consisted, June 30. 1902. of $23.638,070 70 common stock and $3,149,800 preferred stock ; the common stock Including $23.633,80' common stock, $993.81 B. & M. common stock scrip, 32 shares P. S. ft P. RR. Co. stock exc able for $3,200 of B. & M. common stock and 1 share P. & D. RR. stock exchangeable for $76.89 B. & M. common stock. At the same time the authorized capit;il stock was $26,80! sisting of $23,653,125.30 common stock and $3,149,800 non-cumulative 6 p. c. preferred f Chart's, $100 each. At the annual meeting held Oct. 8, 1902, $1,000.000 additional common st 8 POOR'S MANUAL OF RAILROADS NEW ENGLAND GROUP. was authorized for the purposes stated In Sec. 1. Of the common stock Issue, the company owns (1,128.200 upon which no dividends are paid, and which Is deposited with the trustees of tho Eastern UK. Co. a* collateral security for the payment of its certificates of indebtedness due in 1906. N. Funded Debt. — The funded debt outstanding June 30, 1902 — total, $29,597,441.66 as per general balance sheet — consisted of the following issues : E. RR. Mtg. 6s (£) of Sept. 1, 1906, Int. M. & S $1,514,941 45 P., G. F. & C. RR. 1st 4Js of June 1, 1937, Int. J. & D 998,000 00 P. G. F. & C. RR. 1st 4Js of Dec. 1, 1892, Int. J. & D 2,000 00 P.&R. RR. 4s of Oct. 1, 1907, int. A.&O.. 113,500 00 Cent.Mass. 1st 5s of Oct.1,1906, int. A.&O. 2,000,000 00 B.&M. Sink. Fund 4s of Feb.2,1905,int.F.&A. $1,000,000 U.&M. Sink. Fund 4s of Feb.l,1907,int.F.&A. 500,000 D.&M.Slnk.Fund 4s of Feb.l,1937.1nt.F.&A. 1,919,000 B.&M. Plain 4s of Aug. 1. 1942, int. F.&A.. 2,500,000 B.&M. Gold 4Js of Jan. 1, 1944, int. J.&J... 6,000,000 B.&M. Gold 3s of July 1. 1950, int. J.&J. ... 5,454,000 B.&M. Plain 3|s of Nov. 1, 1921, int. M.&N. 1,000,000 E. RR. Mtg. 6s ($) of Sept. 1, 1906, Int. M. & S 596,000 21 Under the sinking fund provisions of the three Improvement loans 11 p. c. In cash upon tho amount of the bonds outstanding is paid yearly to the Boston Safe Deposit and Trust Co., trustee of the sinking fund. The income of this fund is invested in bonds or other securities, as requested by the Boston and Maine RR. The Eastern RR. mortgage certificates are secured on the main line from Boston, Mass., to N. H. State line, 41.45 m. ; on the Asbury Grove. Charlestown, East Boston, Essex, Gloucester, Lawrence, Marblehead, Swampscott, and Saugus Branches, and on 3.79 m. of the West Amesbury Branch, from Salisbury to Amesbury ; an aggregate of 110.72 miles. The Portsmouth, Great Falls and Conway bonds are secured on the main line from Conway Junction, Me., to North Conway, N. H., 72.86 onles. The $2,000 old bonds have not yet been pre- sented for exchange for bonds of 1937. The Central Massachusetts 1st mtge. bonds are secured on the line from North Cambridge Junction to Northampton, Mass., 98.77 miles. They are all owned by the Boston and Lowell RR. O. Bonds and Interest Guaranteed. — The Boston and Maine RR. guarantees $1,328,000 1st mtge. 5 p. c. bonds of the St. Johnsbury and Lake Champlaln RR. Co. and the interest on $274,000 Manchester and Lawrence 4 p. c. bonds of 1922, besides guaranteeing jointly with the Maine Central RR. Co. $300,000 Portland Union Ry. Station Co. bonds. The Boston and Maine RR. also guarantees, under the terms of the respective leases, the interest on the funded debts of the Boston and Lowell RR., Connecticut and Passumpsic Rivers RR., Concord and Montreal RR., Connecticut River RR., Fitchburg RR., Vermont and Massachusetts RR., Manchester and Lawrence RR., Concord and Claremont RR. and Peterborough and Hillsborough RR. (See separate statements for those roads.) 10. Construction Account. — The following expenditures on capital account were made during the year ending June 30, 1902 : Further purchase of shares of capital stock of the Central Massachusetts RR. Co., $86,878.96 : completion of second track and of highway grade crossing separations between Salisbury, Mass., and Greenland, N. H., $66,876.48 ; other highway crossing separations completed, $88,632.70 ; additional construction and equipment of Portsmouth Electric Branch Ry., $27,338.35 ; new freight house at Salem, Mass., and new freight yards at Salem, Somervllle and West Lynn, $50,361.51 ; land purchased and applied to company's use, $431.39 ; land purchased but not yet applied to company's use, $35,998.05 — total, $356,517.44. Less land disposed of, $9,143.27. Net increase in construction and real estate accounts, $347,374.17. 11. STOCKS AND BONDS OWNED, AND OTHER INVESTMENTS, JUNE 30, 1902. SHARES. STOCKS. VALUATION. 64,547 Fitchburg RR., common $5,454,549 75 11,282 B. & M. RR., common 1,293,559 95 25,160 Maine Central RR 2,516,000 09 6,071 York Harb. & Beach RR. ($50) 250,050 00 3,952^'Portland & Ogdensburg RR.. 146.238 80 250 Portland Union Ry. Station Co 25,000 00 300 P., Mt. D. & M. S. B. Co. ($50) . 15,000 00 809 St. J. & L. Champ. RR. ($50).. 4,303 56 1,370 Newburyport RR 4,11000 471 Danvers RR 2,34500 400 Portsmouth Bridge 4,000 00 240 St. J. Br. & Ry. Ext. Co. ($50).. 684 CO 373 Montreal & Atlantic Ry 3,000 00 32 Concord & Claremont RR 640 00 1 Proprietors Wells River Bridge. 90 00 Total Valuation $9,719,57106 BONDS. VALUATION. $300,000 Newburyport RR $298,464 95 125,000 Danvers RR 125,000 00 432,000 St.Johnsb. & Lake Champ.RR. 432,000 00 5,450 Woodsville Aqueduct Co 5,618 50 Total Valuation $861,08346 OTHER INVESTMENTS. Str. " Mt. Washington " and Wharves. $69,260 24 Elevator at Richford, Vt 52,261 43 Real Estate 1,306,776 39 Total Valuation $1,428,298 06 There are also held In the treasury for account of the Northern RR., 1,250 shares of the capital stock of tho Franklin and Tilton Kll. of a par value of $125,000. 12. Sinking Funds. — Balance of funds June 30, 1902 — B. & M. Improvement bonds, $1,139.427.61 ; Eastern RR. bonds, $6,441.74 — total, 41,145,869.35. The B. & M. Improvement sinking fund is invested as follows : Cost of $201,000 B. & M. improvement bonds, $204,075.12 ; cost of $63,000 B. & M. gold 4Js of 1944, $78,838.88 ; cost of $150,000 bonds of Portland Union Ry. Station Co., $150,809.32; cost of $69,000 bonds of Maine Central RR. Co.. $71,872.12; cost of $62,000 bonds of Bangor and Aroostook RR. Co., $67,270 ; cost of $154,000 bonds of Concord and Montreal RR. Co., $154.926.90; cost of $8,000 bond? of European and North American Ry., $9,198.24; co-»t of $303,000 Connecticut River RR. scrip, $305.319.81; cost of 31 shares ($3.100) of Connecticut River RR. stock, $7,734 50 ; cost of 500 shares ($50,000) of Fitchburg RR. preferred stock, $71,500 ; cost of $9,733 (£2,000) certificate* of indebtedness of the Eastern RR.. $10,964.88; cash on hand, $6.917.84 — total. $1.139,427.61, POOR'S MANUAL BOSTON AND MAINE SYSTEM. 13. Statement of traffic operations and income for two fiscal years ending June 30: 1901 1902 1901 1902 Miles Road Oper. (av./ Pass. Train Mileage . . Freight Train Mileage Mixed Train Mileage . Total Rev. Tr. Mil- Passengers carried. . . . Pass. Carried One Mile Tons Freight Moved . . Freight (ton) Miles.. . Earnings — Passenger . Freight 2,256.97 10,666,751 7,424,741 174,963 2,265.50 10,717,579 7.857,575 187,380 Net Earnings $ 9,288,052 206.044 306,398 35,545 20,196 $ 9.407.543 201.557 3.11,563 32,915 23,866 Income from Invest. . Rents of Tenem'ts, etc Interest Received Miscellaneous Income Totals, Net Income Payments — Taxes. . . . Lease Rentals .... In. and Sink. Fund- Dividends, Com . . . Dividends, Pref . . . . Totals . . 18,206,455 38,496,814 632,476,537 17,516,571 1,538,317,388 $ 11,147,757 17,439,380 1,240,441 979,259 18,762,534 37,830,047 655,300,386 18,183,321 1,620,362,196 * 11,557,583 18,124,636 1,337,016 821,458 9,856,835 1,547,315 5.199,234 1,419,873 (7) 1,456,012 (6) 188,988 9,997,444 1,629,514 5,062,922 1,518,281 (7) 1,575,371 (6) 188,988 Mail and Express. . . Miscellaneous 9,811,422 45,413 13,649.64 9,534.37 4,115.27 69.85p.c . 1.763c. 1.134c. 9.975,077 22.367 14,054.60 9,902.08 4,152.52 70.45p.c. 1.764«. 1.119o. Totals Balance, Surplus .... Gross Earn, per Mile . Oper. Expen. per Mile. Net Earnings per Mile. Expenses t > Earn. .. . Av.Rate p. Pass.p.M. . Av. Rate p. Ton per M. 30,806,837 3,514,075 3.620,764 13,580,307 803,639 31,840,694 3,987,360 3,346,484 14,364,117 735,190 Expe ises-M.Way,etc. Maint. Equipment . Transportation . . . General Totals 21,518,785 9,288,052 22,433,151 9,407,543 Net Earnings A statement of operations and Income for the seren fiscal years ending June 30, 1895 to 1901, inclusive, is In the MANUAL for 1902, on page 8. A change iu the method of distributing the items of earnings, etc., Introduced in the report for the year ending June 30, 1902, makes a true com- parison with the years previous to 1901 Impossible. For this reason, and because of the fact that the statistics of the Fitchburg RR. are Included in the reports for the last two fiscal years only, it has been decided to discontinue the publication of the statistics for years previous to 1901. 14. Summary of leased lines on June 30, 1902, showing their mileage, the dates and terms of the leases and the annual rental charges: Length of Road. Length of Track. Length Steel Rails. Lease Effective. Term of Lease. Annual Rental, 1901-02. Boston '. II.) RR. — Concord, N. H.F to Claremont June., N. H., 56.3 m. ; Contoocookville to Hillsborough Bridge, 14.6 m. — total, 70.90 m. ; total track (steel, 77.26 m.), 83.28 miles. Rail, 62 Ibs. Consolidation (Oct. 31, 1873) of the Merrimac and Connecticut Rivers, the Sugar River and the Contoocook River RRs. Controlled by the North- ern RR. Co., which owns practically all of the capital stock, and also owns $254,245.72 of the floating debt. Operated since Jan. 1, 1890, by B. & M. RR. ; rental, interest on bonds. Balance Sheet, June 30, 1902. — Capital stock, $412,400; funded debt (1st gold 4Js of Jan. 1. 1914), $500,000 ; unfunded debt, $254,246 — total, $1,166.646. Contra : Cost of road, $1,131,206 ; profit and loss, $35,439 — total, $1,166,646. A. W. Sulloway, Pres., Franklin Falls, N. H. ; G. U. Crocker, Treas., Boston, Mass. ; G. W. Stone, Sec., Andover, N. H. Office, 19 Milk St., Boston, Mass. PeterborouKh and Hillsborough RR. — Peterborough, N. H., to Hillsborough Bridge, N. THB NORTHERN RR. Co. H., 18.51 m. ; total track (steel, 19.14 m.), 2093 miles. Chartered July 7, 1869; road completed July B, 1878. Operated under contract since Jan. 1, 1890, by the B. & M. RR. Interest on 1st mtge. bonds guaranteed under the lease of the Northern RR. to the B. & M. RR. No interest paid on 2d mtge. bonds, the entire issue being owned by the North- ern RR. Balance Sheet, June 30, 1902. — Capital stock $45,000; funded debt ($100,000 1st 4Js of July 1.' 1917; and $65,000 2d 7s matured April 30, 1887, Interest ceased), $165,000; gratuity, $8,626; cou- pons accrued and unpaid, $112,181 — total, $330,807. Contra: Construction, $209,298; Northern RR., $925 ; profit and loss, $120,584 — total, $330.807. The stock and the 2d mtge. bonds are owned by the Northern RR. A. W. Sulloway, Pres., Franklin Falls, N. H. ; G. U. Crocker, Treas., Boston, Mass. ; Barren Shirley, Clerk, Franklin, N. H. Office, 19 Milk St., Boston, Mass. WORCESTER, NASHUA AND ROCHES- TER RR. — Worcester, Mass., to Rochester, N. H., 94.48 m. ; 2d track, 18.13 m. ; total track, 160.32 miles. Rail (steel, 150.19 m.), 58 to 60 Ibs. HISTORY. — Consolidation, Dec. 1, 1883, of the Worcester and Nashua and the Nashua and Rochester RR. Cos. (See Manual for 1885, page 81.) Leased to the B. & M. RR., for 50 years from Jan. 1, 1886 ; rental, $250,000 a year. INCOME ACCOUNT. — Total income, year end- ing June 30, 1902. $250,063. Expenses, $2,252; in- terest on bonds, $71,040 ; interest and discount, $2,456; dividends (5 p. c.), $153,220 — total, $228,- 968. Surplus, $21,095. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $3,099,800; funded debt (see below), $1,776,000; unfunded debt, 45,000; other liablities, $31,840 — total, $4,952,640. Contra: Cost of road and equipment, $4,553,921 ; other invest- ments, $35,400 ; cash, $37,617 ; profit and loss, $325,702 — total, $4,952,640. FUNDED DEBT. — $150,000 4s of Jan. 1, 1906; $735,000 let 4s of Jan. 1, 1930; $511,000 1st 4s of Jan. 1, 1913 ; and $380,000 1st 4s of Oct. 1. 1$34. CORPORATE OFFICERS. — G. G. Haven, Pres.. New York, N. Y. ; C. H. Bowen, Treas. & Clerk, 63 State St., Boston, Mass. Office, Boston, Mass. 17. Board of Directors, Boston d Maine RR., elected October 8, 1902. Lucius Tuttle Boston, Mass 8. C. Lawrence. Medford, Mass. Richard Olney — Boston, Mass. A. W. Sulloway.Franklin, N. H. Jos. H. White. Brookline, Mass. W. Hunnewell.Wellesley, Mass. Henry R. Reed... Boston, Mass. H. M. Whitney.Brookllne, Mass. H. F. Dimock..New York, N. Y. Wm. Whiting... Holyoke, Mass. C. M. Pratt.... New York, N. Y. L. C. Ledyard.New York, N. Y Alexander Cochrane Boston, Mass. Lucius TUTTLE, President Boston, Mass. 1st Vice-Pres. — T. A. Mackinnon.. .Boston, Mass. I Compt.&Gen.Aud. — Wm. J. Hobbs. .Boston, Mass. 2d Vice-Pres. — W. F. Berry " " | Treasurer — Herbert E. Fisher Clerk — William B. Lawrence Boston, Mass. PRINCIPAL OFFICE AND ADDBESS Causeway Street, Boston, Maw. BOSTON AND MAINE! SYSTEM.— Railroads Operated by the Boston and Maine RR. as Agent for the Owners. SULLIVAN COUNTY RR.— Bellows Falls, Vt., to Windsor, Vt., 26 m. ; 2d track, 17.4 m.; total track (steel; 56 to 72 Ibs.), 51.08 miles. Gauge, 4 ft. 8y2 in. History.— Chartered July 10, 1846; opened Feb. 5, 1849. Controlled by the Vermont Valley RR. through ownership of entire capital stock. Operated by the Bos- ton and Maine RR., as agent. (See MANUAL for 1896, page 418.) The track of the C. V. RR., between Connecticut River Bridge and Windsor, 1 m., is used under contract Rolling Stock.— June 30, 1902. — Locomotives, 9; freight cars (box), 40. Operations, year ending June 30, 1902.— Train mileage— passenger, 76,022 ; freight, 130,213; other, 90,165 — total, 296,400 miles. Passengers carried — 219,279; carried one mile, 4,376,501; average mile rate, 2.225 cents. Tons freight moved, 880,290; moved one mile, 20,425,142; average ton-mile rate, 0.938 cent. Earnings— Passenger $ 97,388 72 Freight 194,934 67 Mail and Express 11,093 93 Misc., Extra Bag. & Storage. . 1,780 81 Total ($11,738.39 per mile) $305,198 13 $51,166 1( . 49,940 Conducting Transportation... 129,388 1 7.682 76 Expenses— Maint. of Way and Struc... Maintenance of Equipment. General Total ( $9.160.67 per mile) ............. $238.177 2» Net earnings (21.96 p. c.), $67,020.84; add rent receipts, $626.92— total, $67,647.78. Payments: Interest on bonds, $14,280; taxes, $13,312.96; dividends (Oct. 1, 1901, and April 1, 1902, 4 p. c. each), $40,000— total, $67,592.96. Surplus, $54.80; surplus forward, $131,268.02— total, $131,322.82. 16 POOR'S MANUAL OF RAILROADS — NEW ENGLAND CROUP. General Balance Sheet, June 30, 1902. Cost of Road $888,756 37 Cost of Rolling Stock 98.175 10 Mill Brook Bridge 11.688 70 Double Track 36,200 00 Capital Stock ($100 shares) $500,00000 Funded Debt (1st 4s of April 1. 1924).. 357,000 00 Vermont Valley RR. Co. of 1871 21,150 67 Accrued Interest not yet Due 3,570 00 Boston and Maine RR 21,775 68 Profit an* Loss 131.322 82 Total Assets $1.034,819 17 Total Liabilities....; $1.034,819 17 Directors (elected May 29, 1902.)— J. H. Albin, H. A. Albin, Concord, N. H., J. fl. Williams, Bellows Falls, Vt.; Geo. H. Stowell, Claremont, N. H.; Geo. W. Abbott, Pena- cook, N. H. ; Geo. E. Anderson, Nashua, N. H. ; A. T. Batchelder, Keene, N. H. OFFICERS : JOHN H. ALBIN, Pres.; H. A. Albin, Clerk d Trees., Concord, N. H.; H. E. Fisher, Asst. Trees., Boston, Mass. CORPORATE OFFICE, Concord, N. H. Operating Office, Boston, Mass. VERMONT VALLEY RR.— Bellows Falls, Vt., to Brattleboro', Vt., 2 m. ; 2d track. 3.62 m.; total track (steel; 56 to 72 Ibs.), 33.50 miles. Gauge, 4 ft. 8l/2 in. History. — Vermont Valley RR. Co. chartered Nov. 8, 1848, and road opened in 1851. Vermont Valley RR. Co. of 1871 got possession of property April 5, 1877. Name changed to Vermont Valley RR. by act of the Vermont Legislature, approved Oct. 27, 1902. Controlled in the interest of the Connecticut River RR. Co., and operated by the Boston and Maine RR., as agent. (See MANUAL for 1896, page 419.) This company owns all the capital stock of the Sullivan County RR. (See preceding statement; also MANUAL for 1891, page 560.) Rolling Stock, June 30, 1902. — Locomotives, 9. Cars — passenger, 4; baggage, 1; freight, (box, 61; flat, 32; coal, 50), 148; service, 6— total 154. Operations, year ending June 30, 1902. — Train mileage — passenger, 72,369; freight, 97,784; other, 55,760 — total, 225,913. Passengers carried, 201,414; carried one mile, 4,209,891; average mile rate, 2.210 cents. Tons freight moved, 698,389; moved one mile, 16,545,655; average ton-mile rate, 0.974 cent. Expenses — Maint. of Way and Struc... $76,171 82 Maintenance of Equipment. 37,249 41 Conducting Transportation.. 95,263 38 General Expenses 3,926 03 Total ($11,241.26 per mile) $269,79024 Total ($8,858.78 per mile) $212,61064 Net earnings (21.194 p. c.), $57,179.60; add rent of lands, etc., $1,499.99; dividends on stocks owned, $48,000 — total, $106,629.59. Payments: Interest on bonds, $40,000; dividends, Jan. 1 and July 1, 3 p. c. each), $60,000; taxes, $6,569.06— total, $106,569.00. Surplus, $60.53; surplus forward, $122,484.30 — total, $122,544.83. Deduct proportion of expenditures for double track, $26,000. Balance surplus, June 30, 1902, $96,544.83. General Balance Sheet, June 30, 1902. Earnings — Passenger $93,018 46 Freight 164,71362 Mail and Express 10,239 56 Misc., Extra Baggage 1,81860 Cost of Road and Real Estate $985,372 22 Double Track 31,198 57 Cost of Rolling Stock 96,959 07 Stock Sullivan Co. RR. Co., 5,000 shares 800,00000 Sullivan County RR 21,150 67 Capital Stock ( $50 shares) $1,000,000 00 Funded Debt (1st 5s of Oct. 1, 1910) .... 800,000 00 Dividend No. 46, due July 1, 1902 30,000 00 Vouchers and Accounts 8,13570 Profit and Loss 96,544 83 Total Assets $1,934,680 53 Total Liabilities $1,934,680 53 Directors (elected Oct. 1, 1902J — James H. Williams, John H. Williams, Bellows Falls, Vt.; John H. Albin, Concord, N. H.; Hugh Henry, Chester, Vt.; H. E. Folsom, Lyndonville, Vt.; W. B. C. Stickney, Bethel, Vt.; H. B. Viall, Keene, N. H. OFFICERS: JAMES H. WILLIAMS, Pres.; John H. Williams, Clerk & Trees., Bellows Falls, Vt. ; H. E. Fisher, Asst. Trees., Boston, Mass. CORPORATE OFFICE, Bellows Falls, Vt. Operating Office, Boston, Mass. YORK HARBOR AND BEACH RR.— Kittery to York Beach, Me., 11.17 m.; spur to U. S. Navy Yard, 0.34 m.— total, 11.51 m.; total track 12.61 miles. Gauge, 4 ft Sy2 in. Rail (steel, 11.78 m.), 60 Ibs. History. — Organized in 1886; opened August 8, 1887. The equipment is hired from the Boston and Maine RR. The road was not operated from December 29, 1901, to April 28, 1902. Operations, year ending June 30, 1902. — Train mileage — passenger, 21,324; freight, 5,954— total 27,278 miles. Passengers carried, 101,046; carried one mile, 738.552. Tons freight moved, 16,454; moved one mile, 98,294. Earnings — passenger, $18,942.82; freight, $11,221.11; other, $754.93— total, $30,918.86. Operating expenses, $29,905.84. Net earn- ings, $1,013.02; other receipts, $1,211.01— total, $2,224.03. Paid taxes, $437.57. Surplus, $1,786.46; surplus forward, $27,962.52— total, $29,748.98. POOR'S MANUAL OP RAILROADS. 17 General Balance Sheet, June 30, 1901.— Capital stock ($50 shares), $300,000- profit and loss, $29,748.98 — total, $329,748.98. Contra: Cost of road, $300,000; cash and other assets, $29,748.98— total, $329,748.98. The Boston and Maine RR. owns $248,550 of the capital stock. Directors (elected Oct. 22, 1902).— Lucius Tuttle, Henry R. Reed, Boston, Mass.; S. C. Lawrence, Medford, Mass.; J. E. Staples, York Village, Me.; E. S. Marsha'll, York Harbor, Me.; George P. Wescott, Portland, Me.; S. W. Junkins, York Corner, Me. OFFICERS: Lucius TUTTLE, Pres.; H. E. Fisher, Trees., Boston, Mass.; F. D. Marshall, Clerk, Portland, Me. GENERAL OFFICE, Boston, Mass. CENTRAL VEEMONT RAILWAY COMPANY. 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (290.1 miles). Main Line: St. Johns, P. Q., to Windsor, Vt 177.5 miles. Burlington Branch : Essex Junction to Burlington, Vt 8.0 House's Point Branch: Swanton Junction, Vt., to Rouse's Point, N. Y 17.7 Williamstown Branch: Montpelier Junction to Williamstown, Vt 14.9 Cambridge Branch: Essex Junction to Cambridge Junction, Vt 26.0 Richford Branch : St. Albans to Richford, Vt 28.0 Frelighsburg Branch : Farnham to Frelighsburg, P. Q 18.0 B. LEASED LINES (total, 159.5 miles). Stanstead, Shefford and Chambly RR.: S. S. & C. June, to Waterloo, P. Q.. 40.8 Montreal and Province Line Ry.: (see appended statement, Sec. 8.) 40.6 O. LEASED LINES (total 159.5 miles) . New London Northern RR. (see appended statement) 123.5 Brattleboro and Whitehall RR. : (see appended statement) 36.0 Total length of lines operated, June 30, 1902 531.0 miles. 2d track, 6.2 m. ; sidings, etc. (owned, 105.9 m.; leased, 47.4 m. ), 153.3 miles. Gauges, 4 ft. 8l/2 in. and (B. & W. RR., 36 m.) 3 ft. Rail (steel, 682.2 m.), 56, 72, 75 and 80 Ibs. 2. History. — Reorganization, effective May 1, 1899, of the Central Vermont RR. Co. (see MANUAL for 1899, page 732). The Frelighsburg Branch, to aid in the con- struction of which the Dominion Government granted a subsidy of $3,200 a mile, was opened for traffic Nov. 10, 1901. The company owns all the stock and about four-fifths of the bonds of the Stanstead, Shefford and Chambly Ry. Co., and all the stock of the Montreal and Province Line Ry. Co. In time both of the companies named will be merged with the Central Vermont Ry. Co. 3. Properties TJsed Jointly with Other Companies. — The line from White River Junction to South Vernon, Vt., made up of the Central Vermont Ry. from White River Junction to Windsor, the Sullivan County RR. from Windsor to Bellows Falls, the Vermont Valley RR. from Bellows Falls to Brattleboro, and the New London North- ern RR. from Brattleboro to South Vernon, is used jointly by this company and the Boston and Maine RR., under an agreement effective October 1, 1900. The bridge over Lake Champlain from West Alburgh to Rouse's Point is owned jointly by this company and the Rutland RR. Co. This company has joint use of the terminal facilities in Rouse's Point of the Delaware and Hudson Co. and of the Grand Trunk Ry. Co. The Rutland RR. Co. uses this company's tracks, lands, and passenger station at Burlington, Vt., at a rental of $7,000 a year. 4. Rolling Stock, June 30, 1902. — Locomotives, 94. Cars — coaches, 62; combina- tion, 30; baggage, mail, and express, 21; freight (box, 1,015; flat, 591; stock, 23; coal, 327), 1,956; service, 176 — total, 2,245. Of this equipment, 3 locomotives, 30 box cars, 48 flat cars and 1 snow-plow are narrow-gauge. 5. General Income Account, year ending June 30, 1902. Expenses— Maint. of Way andStruc... $417.774 08 Earnings— Passenger 935,801 19 Freight and Live Stock 2,285,100 04 Mall and Express 140,33290 Miscellaneous 45,19773 Total ($6,640.22 per mile) $3,406,431 Maintenance of Equipment. 301,369 94 Conducting Transportation. 1,829,767 f General Expenses 93.410 24 Total ($5,150.72 per mile) $2,642,82177 Net earnings, (22.43 p. c.), $764,110.09; add interest on securities held by the com- 18 POOR'S MANUAL OF RAILROADS — NEW ENGLAND GROUP. pany, $10,560 — total, $774,670.09. Payments: Interest on bonds, $446,209.76; rentals of leased lines, $221,552.48; taxes, $103,808.91— total, $771,571.15. Surplus, $3,098.94. Included in operating expenses for the year ending June 30, 1901, were $199,760.42, and for the year ending June 30, 1902, $139,378.53, of extraordinary expenditures for improvements, new steel bridges, rails, etc. Similar expenditures for the year ending June 30, 1900, amounted to $375,305.81, and for the months of May and June, 1899, $51,460.36; making a total expenditure for improvements since the reorganization, charged against income, $765,905.12. In addition to th'is amount there were expended from improvement fund, $83,830.69 for new bridges, and $58,815.25 for new steel rails, a total of $142,645.94. <>. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $13,825,839 85 Bonds Deposited with Trustee 1,000,000 00 Materials and Supplies 145,888 62 Cash on Hand and in Transit 143,393 53 Investment in Bonds 267,779 68 Sundry Accounts Collectible 376,757 16 Advances Fast Freight Line 9,950 00 Frelighsburgh Extension 11,956 07 Capital Stock ($100 shares) $3,000,00000 Funded Debt (see Section 7) 12,000,000 00 Interest Due 8,973 00 Interest Accrued not Due 76,372 40 Taxes Accrued not Due 56,979 29 Sundry Accounts Payable 532,83231 Notes Payable 100,000 00 Profit and Loss 6,902 91 Total Assets $15,781,059 91 Total Liabilities $15,781,059 91 7. Fnnded Debt. — Funded debt consists of 1st gold 4s of May 1, 1920. The amount author- ized by the mortgage and shown as a liability on the general balance sheet is $12,000,000, but there are only $11,000,000 of bonds outstanding, $1,000,000 being reserved in the hands of the trustee to be issued only for betterments and improvements under proper restrictions. The bonds are secured on the entire property and assets of the company. The bondholders have the privilege of electing three members of the board of directors, and for that purpose voting power attaches to the bonds — one vote for every $100 thereof. The Grand Trunk Ry. Co. owns more than S2.000.000 of the capital stock, and guarantees the Interest on the bonds under a traffic contract by the terms of which it agrees to provide for any deficiency up to an amount equal to 30 p. c. of the gross receipts from business interchanged between It and this company. 8. Statement of operations, etc., for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles Rd. Oper.(aver.) Passenger Train Miles. Freight Train Miles. . . Passengers Carried. . . Passenger MileaT'. . Freight (tons) Moved . Freight (ton) M les . . Passenger Earnings. . . Freight Earnings Mail & Exp. Earnings. 637.0 1,666,846 2,395,198 2,512,428 62,130,639 3,223,597 380,218,212 S 1,371,648 2,991,505 197,045 122,745 510.5 1,291,189 1,946,943 1,836,554 44,751,078 2,996,374 324,614,730 S 997,423 2,460,659 155,472 88,739 510.5 1,110,272 1,436,961 1,726,156 40,171,202 2,844.037 247,408,978 S 921,289 2,064.025 135,497 96,707 510.5 1.121,088 1,300,433 1,603,552 42,600,024 2,801,721 237,836,511 S 926,872 2,001,410 136,460 86,566 513.0 1,056,069 1,424,111 1,601,726 43,707,921 2,658,925 252,551,609 S 970,387 2,229.552 137,543 45,241 513.0 1,131,767 1,515,122 1,505,943 42,594,685 2,638,779 248,896,794 S 952,217 2,141,011 139,513 41,414 524.5 1,107,045 1,710,595 1,521,526 41,814,796 2,803,580 268,223,086 S 935,801 2,285,100 140,333 45,198 Tot. Traffic Earnings Operating Expenses.. . Net Earnings 4,682.943 3,208,927 3,702,293 2,997,154 3,217,518 2,584,509 3,151,308 2,405,870 3,382,723 2,497,513 3,274,155 2,507,155 3,406,432 2,642,322 1,474,016 7,»51.56 5,037.56 2,314.00 68.52 p. c. 2.21 c. 0.79 c. 705,139 7,252.29 5,871.02 1,381.27 80.95 p. c. 2.23 c. 0.76 c. 633,009 6,302.68 5,062.70 1,239.28 80.33 p. c. 2.29 c. 0.83 c. 745,438 6,172.98 4,712.77 1,460.21 76.35 p. c. 2.18 c. 0.84 c. 885,210 6,594.00 4,869.23 1,724.77 73.83 p. c. 2.22 c. 0.88 c. 767,000 6,382.37 4,887.24 1,495.13 76.58 p. c. 2.24 c. 0.86 c. 764,110 6,494.63 5,037.79 1,456.84 77.67 p. c. 2.24 c. 0.85 o. Gross Earnings p.Mile Gross Exp. per Mile. . . Net Earnings per Mile. Expenses to Earnings. Av. Rate p. Pass. p. M . Av.Rate p.Ton p.Mile. 9. RAILROADS OWNED BY THE MONTREAL AND PROVINCE LINE RY. — St. Lambert to Farnham, Que., 32 m. ; Marieville to St. Cesaire, Que., 8.6 m. — total, 40.6 m. ; total track, 42 miles. Rail (steel, 32 m.), 38 and 56 Ibs. Successor to the Montreal, Portland and Boston RR. Co., sold under foreclosure March 2.1896. (See Manual for 1897, page 339.) Capital stock, $1,000,000; government (P. Q. bonus), $231,- 122; municipal aid, $25,000 ; bonded debt (see 1st gold 4s of Oct. 1, 1950), $200.000 — total, $1,456,122. The Central Vermont Ry. Co. owns the capital stock and guarantees the bonds both as to prin- cipal and interest. The C. V. Ry. Co. receives a rental of $1,500 a year for the privilege of allow- ing certain telegraph poles to be placed on the CENTRAL VERMONT RY. Co. right of way, reducing the annual payment on account of this road to $6,500. STANSTEAD, SHEFFORD AND CHAM- BLY RR. — St. Johns to Waterloo, Que., 43 m. ; sidings, etc., 2 miles. Rail (steel, 31 m.), 60 Ibs. Chartered in 1853; opened in 1858-1861. (See Manual for 1898, page 355.) The C. V. Ry. Co. owns all of the capital stock ($500,000) and about four-fifths of the bonds ($800,000). The holders of the remaining bonds have agreed to accept in- terest at the rate of 4 p. c. per annum on a prin- cipal of $155,865.20. (See Manual for 1900, page 17.) S. W. Foster, Pres., Knowlton, Que.; 0. H. Parmelee, Sec. & Treas., Waterloo, Que. POOR'S MANUAL OF RAILROADS. 19 1O. RAILEOADS LEASED BY THE CENTRAL VERMONT RY. Co. NEW LONDON NORTHERN RR New London, Conn., to Brattleboro', Vt., 121 m. ; Mont- ville to Palmertown, Conn., 2.5 m. ; • total track, 160.02 miles. Rail (steel, 123.5 m.), 57, 58 and 60 Ibs. HISTORY. — Reorganization in 1859 of the New London, Willimantic and Palmer RR. Co. (See Manual for 1888, page 56.) Leased to the Central Vermont Ry. Co. for 99 years, from Dec. 1, 1891 ; rental, $213,552.50 a year in monthly installments. The lease includes the Brattleboro' and Whitehall RR. (See appended statement.) INCOME ACCOUNT. — Rental, year ending June 30, 1902, $213,552 ; other receipts, $562 — total, $214,- 114. Expenses, $4,973 ; interest on bonds, $68,120 ; interest on loans, $1,000 ; dividends (9 p. c.), $136,- 000 — total, $209,093. Surplus, $5,021; surplus for- ward, $505,417—total, $510,438. BALANCE SHEET, June 30. 1902. — Capital stock ($2,000,000 auth. ; $100 shares), $1,500,000; funded debt ($812,000 consol. 5s and $688,000 consol. 4s, of July 1, 1910), $1,500,000; unfunded debt, $23,064; profit and loss, $510,438 — total, $3,533,502. Contra : cost of road and equipment, $3,313,050 ; bonds, B. & W. RR., $150,000 ; steamboat property, $5,000; other assets, $65,452 — total, $3,533,502. CORPORATE OFFICERS. — Robert Colt, Pres. & Iteas. ; J. A. Southard, Sec. Office, New Lon- don, Conn. RAILROAD LEASED TO Brattleboro' and Whitehall RR. — Brattleboro' to South Londonderry, Vt., 36 m. ; total track, 40 miles. Gauge, 3 ft. Rail (steel, 17 m.), 36 and 40 Ibs. Reorganization in 1876 of the West River RR. Co. ; opened Nov. 3, 1879. Leased in Feb., 1880, for 99 years, to the New London Northern RR. Co. ; rental, interest on the bonds, all of which THE N. L. N. RR. Co. are held by the lessee, together with $600 for ter- minals and $400 for organization expenses. Loco- motives, 4 ; passenger cars, 6 ; freight cars, 104. Capital stock, $200,000; funded debt (1st 6s due 1900), $150,000; floating debt, $60,000 — total, repre- senting cost of property, $410,000. C. F. Thompson, Pres. ; J. L. Martin, Sec. ; C. H. Thompson, Treas. Office, Brattleboro'. Vt. Chas. M. Hays... Montreal, Que. E. H. Fitzhugh..St. Albans, Vt. John Bell Belleville, Ont. E. C. Smith St. Albans, Vt. W. S. Webb Shelburne, Vt. Albert Tuttle. ..Fair Haven, Vt. Henry B. Day Boston, Mass. J. L. Martin... Brattleboro', Vt. 11. Board of Directors, Central Vermont Ry. Co., elected October 14, 1902. C. P. Smith Burlington, Vt. Ezra H. Baker Boston, Mass. S. E. Kilner. ..New York, N. Y. J. G. McCullough N. Bennington, Vt. John W. Stewart Mlddlebury, Vt. CHARLES M. HATS, President St. Albans, Vt. E. H. Fitzhugh, Vice-President & Gen. Manager " " Treas. & Clerk — W. H. Chaff ee St. Albans, Vt. Auditor — W. G. Crabbe St. Albans, Vt. PRINCIPAL OFFICE AND ADDRESS St. Albans, Vt. MAINE CENTRAL RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS or SECTIONS. Capitalization of System 12 Capital Stock 8 Directors and Officers 14 Earnings, etc., year 1902 6 Funded Debt, Details of 9 Gen. Bal. Sheet, June 30, 1902 7 Guaranteed Bonds 10 History 3 Income Account, year 1902... 6 Leased Lines, Statements of. 13 Marine Equipment 2&5 Mileage Operat'd.June 30,1902. 1 Operat'ns.etc., years 1895-1902. 4 Rentals in Detail 12 Rolling Stock 5 Securities Own'd.June 30,1902. 11 Water Lines 2 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 394.77 miles). Main Line: Portland, Me., to Bangor, Me 136.60 miles. Bat h Branch : Brunswick, Me., to Bath, Me 8.90 Waterville Branch: Cumberland Junction, Me., to Skowhegan, Me 91.20 Farmington Branch: Brunswick, Me., to Farmington, Me 62.60 Lewiston Branch: Crowley's Junction, Me., to Lewiston, Me 4.80 Mt. Desert Branch: Brewer Junction to Mt. Desert Ferry 41.13 Cobbosseecontee Branch: Gardiner Junction to Copsecook Mill, Me 1.15 Rockland Branch: Woolwich to Rockland Wharf, Me 48.39 B. LINES LEASED (total, 421.06 miles). Belfast and Moosehead Lake RR.: Burnham Junction to Belfast, Me 33.13 Dexter and Netvport RR. : Newport to Dexter, Me 14.23 Dexter and Piscataquis RR.: Dexter Junction to Foxcroft, Me 16.54 Eastern Maine Ry.: Bangor Junction to Bucksport, Me. 18.80 European and N. American, Ry. (see statement in Section 13) 120.34 Portland and Ogdensburg Ry. (see statement in Section 13) 109.84 Upper Coos RR.: Quebec Junction, N. H., to Canada- Vermont Line 55.33 Hereford Ry: Canada- Vermont Line to Lime Ridge, P. Q 52.85 Total length of railroad operated, June 30, 1902 815.83 miles. 2d track (owned, 32.8 m. ; leased, 8.0 m.), 40.8 m. ; sidings (owned, 149.11 m. ; leased, 113.86 m.), 262.97 miles. Total track (owned, 576.68 m.; leased, 542.92 m.), 1,119.60 miles. Gauge, 4 ft. 8y2 in. Rail ( steel— owned, 560.47 m.; leased, 523.06 m.— total, 1,083.53 m.), 56, 67, and 75 Ibs. 20 POOR'S MANUAL OF RAILROADS — NEW ENGLAND GROUP. 2. Water Lines. — A regular marine service for distributing and collecting summer travel is maintained between the road's terminus at. Rockland and Islesboro and Cas- tine; also between the terminus of the Bar Harbor 'Branch at Mt. Desert Ferry and Hancock Point, Sorrento, Sullivan, Bar Harbor, Northeast Harbor, Seal Harbor, and Southwest Harbor. In 1901 the company added to its fleet used in this service the steamboat Pemaquid, at a cost of $50,000, and in 1902 it built and put in operation the steamboat Norumbega, costing $62,000. The fleet now consists of the Sappho, 137 tons; the Sebenoa, 44 tons; the Pemaquid, 225 tons; and the Norumbega, 142 tons. The company also operates a steam ferry across the Kennebec River between Bath and Woolwich, which supplies a connection between the Bath Branch and the Rockland Branch. The company controls the Portland, Mt. Desert and Machias Steamboat Co. 31. History— Consolidation, Oct. 28, 1862, of the Androscoggin and Kennebec RR. Co. and the Penobscot and Kennebec RR. Co. The Portland and Kennebec RR., the Somer- set and Kennebec RR. and the Leeds and Farmington RR. were absorbed on Nov. 16, 1874; the Maine Shore Line RR. (Mt. Desert Branch) in 1888, and the Knox and Lincoln Ry. (Rockland Branch and Woolwich Ferry) in Feb., 1901. (See MANUAL for 1885, page 6; MANUAL for 1890, page 38; and MANUAL for 1901, page 17.) The old Knox and Lincoln RR. Co. (see MANUAL for 1892, page 358) retained a nominal corporate exist- ence until Aug 9, 1901, when it was absolutely dissolved by a decree of the Supreme Judicial Court of Maine, its powers passing to the Maine Central RR. Co. 4. Statement of operations and income for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles Rd. Oper. (aver) Passenger Train Miles. Freight Train Miles. . . Mixed Train Miles 813.95 1,756,093 1,498,204 813.95 1,725,630 1,455,814 813.95 1,699,999 1,400,279 814.68 1,739,415 1,514,095 814.68 1,817,544 1,550,842 815.83 1,812,819 1,275,559 136,390 815.83 1,845.378 1,322,013 139,003 Revenue Train Miles. . Passengers Carried. . . Passenger Mileage. . . . Freight (tons) Moved. Freight (ton) Miles.. . . Passenger Earnings. . . Freight Earnings Express, Mail, etc Gross Earnings 3,254,297 2,110,734 84,161,437 2,678,203 207,390,937 1 1,939,048 2,774,802 271,469 3,181,444 2,005,172 79,224,995 2,687,603 206,746,056 * 1,867,249 2,756,873 273,914 3,100,278 2,071,431 83,335,917 2,747,021 203,684,841 S 1,860,334 2,615,414 283,053 3,253,510 2,136,470 83,103,024 3,217,809 256,903,895 S 1,885,146 2,829,199 307,752 3,368,386 2,387,846 90,720,967 3,573,915 289,872,087 $ 2,021,144 3,277,273 314,507 3,224,768 2,633,331 97,934,328 3,740,709 299,114,181 $ 2,110,754 3,427,476 330,317 3,306,394 2,883,678 104,882,565 4,049,412 330,460,107 $ 2,166,154 3,678,359 349,791 4,985,319 3,271,673 4,898,036 3,173,286 4,758,801 2,997,244 5.022,097 3,283,337 5,612,924 3,753.972 5,868,547 3,962,339 6,194,304 4,552,260 Operating Expenses.. . Net Earnings. . . 1,713,646 51,860 1,724,750 52,147 1,761,557 63,040 1,738,760 81,071 1,858,952 85,745 1,906,208 92,390 1,642,044 153,857 Other Receipts . . . Net Income 1,765,506 97,779 649,516 637,834 1,776,897 112,283 650,480 657,060 1,824,597 114,121 648,121 633,907 29,440 298,527 100,481 5,782.40 3,641.96 2,140.46 62.98 p. c. 2.28 c. 1.29 c. 1,819,831 121,723 647,090 599,365 99,444 298,532 53,677 6,102.33 3,989.57 2,112.76 65.38 p. c. 2.27 c. l.lOc. 1,944,697 147,704 646,526 584,870 182,907 t298,543 84,147 6,81i.72 4,555.07 2,255.65 66.88 p. «. 2.23 c. 1.13c. 1,998,598 197,345 592,922 604,222 229,440 298,554 76,115 7,120.90 4,807.91 2,312.99 67.52 p. c. 2.16c. 1.15c. 1,795,901 216,878 545,876 643,110 29,440 298,566 62.031 7,592.64 5,579.91 2,012.73 73.49 p. c. 2.07 c. l.llc. Payments — Taxes. . . . Lease Rentals Interest . . . Other Charges.. *Dividends, 6 p. c... Balance, Surplus Gross Earn, per Mile. . Oper. Exp. per Mile. . . Net Earnings per Mile. Expenses to Earnings. Av.Rate p.Pass.p.Mile Av. Rate p.Ton p.Mile 298,524 81,853 6,063.02 4,020.44 2.105.84 67.59 p. c. 2.30 c. 1.33 c. 298,524 58,550 5,956.86 3,859.27 2,097.59 67.08 p. c. 2.36 c. 1.33 c. •For statement of dividends paid from the organization of the company to Jan., 1898, see MANUAL for 1898, page 14. For latest dividends, see General Index, tin addition to this amount there was paid on July 2, 1900, a dividend of 1| p. c., amounting to $74,638.50, from the surplus at credit of profit and loss on June 30, 1900. Total amount of dividends declared from the earnings of the year ending June 30, 1900, $373,182. 5. Equipment, June 30, 1902. — Locomotives, 167. Cars — passenger, 172; bag- gage, mail, and express, 67; freight (caboose, 69; box, 1,314; stock, 55; flat, 1,999; coal, POOR'S MANUAL — MAINE CENTRAL RR. CO. 21 449; refrigerator, 28), 3,914; service, 401— total, 4,554. Also 6 ferryboats, steamboats, etc. ( see Sec. 2 ) . 6. General Income Account, year ending June 30, 1902. Earnings — Passenge r 12,166,154 34 Freight 3.678,359 02 Mail and Express 287,991 55 Miscellaneous 61,79917 Total ($7,592.64 per mile) ........... $6,194,304 08 Expenses— Maint. of Way and Struc.. $1,081,191 69 Maintenance of Equipment* 2,089,506 65 Conducting Transportation. 1,200,386 20 General Expenses 181,17583 Total ($5,579.91 per mile) .......... $4,552,260 43 *This item includes, besides the ordinary expense of maintaining the equipment, $215,267.94 paid for new equipment received, $360,527.72 appropriated for new equipment in process of con- struction but not yet delivered, and $62,000 paid for the new steamboat Norumbega. Net earnings (26.51 p. c.), $1,642,043.65; other income, $153,857.34— total, $1,795,- 900.99. Payments: Interest on debt, $643,110; taxes, $216,878.18; rentals leased lines (see Sec. 12), $545,875.76; sinking fund payments, $29,440; dividends on stock (No3. 58 to 61, iy2 p. c. each, paid Oct., 1901, Jan., April, and July, 1902), $298,566— total, $1,733,869.94. Surplus, $62,031.05; surplus to June 30, 1901, $252,161; miscellaneous additions, $30,376.82 — total, $344,568.87. Deduct amount transferred to contingent fund, $62,031.05. Surplus, June 30, 1902, $282,537.82. 7. General Balance Sheet, June 30, 1902. Construction and Equipment $17,180,43678 Investment Account 288,47200 Materials and Supplies • 598,85486 Trustees of Sinking Funds 683,70181 Notes Receivable 778,217 50 Cash and Other Assets 819,032 74 Capital Stock (see Sec. 8) $4.988.000 00 Funded Debt M. C. RR. Co. (see Sec. 9) 12,492,19200 Current Liabilities 706,106 79 Sundry Items 1.196,177 Zl Sinking Funds 683,70181 Profit and Loss 282,537 82 Total Assets $20,348,715 69 Total Liabilities $20,348,715 69 8. Capital Stock. — The authorized capital stock is $12,000,000, including $2,000,000 authorized in Feb., 1901, to retire the stock and bonds of the Knox and Lincoln Ry. The capital stock liability as per general Balance sheet consists of $4,975,600 of Maine Centra) stock, $800 of Maine Central stock scrip, $11,000 of Androscoggin and Kennebec stock bonds, exchangeable for Maine Central stock and $600 of Portland and Kennebec stock scrip, exchangeable for Maine Central stock. 9. Funded Debt — The funded debt outstanding on June 30, 1902 — total $12,492,192, as per general balance sheet — consisted of the several Issues of bonds listed in the following statement: $3,924,000 Consol. mtge. 7s of April 1, 1912. 269,500 Consol. mtge. 5s of April 1, 1912. 1,525,000 Consol. mtge. 4Js of April 1. 1912. 3,265,500 Consol. mtge. 4s of April 1, 1912. 669,000 Collateral Trust 5s of June 1, 1923. 81,000 Me. Shore Line 1st 6s of June 1, 1923. $600,000 Sinking Fund gold 4is of Feb. 1, 1905. 200,000 Improvement Series A gold 4Js of 1916. 250,000 Improvement Series B 4is of 1917. 8,192 Interest Scrip. 1,300,000 Penobscot Sh. Line 1st 4s of Aug. 1, 1920. 400,000 Knox & Lincoln Ser. A 5s of Feb. 1, 1921. Consolidated Mortgage Bonds. — Secured by first mortgage on the main line from Portland to Bangor, and on the Bath, Farmington, Lowiston and Waterville Branches, an aggregate of 305.25 miles. (See Manual for 1900, page 22.) The authorized amount is $9,000,000, to be issued in four classes — Class A for $1,000,000, Class B for $.3.970.000, Class C for $2,850,000 and Class D for $1,175,000. On June 30, 1901, there were outstanding $991,500 of Class A, $3,968,500 of Class H, all of Clats C, and $1,174,000 of Class I). The rate o.' interest was originally 7 p. c., but bonds have been placed at lower rates- when they could be sold. The Issues to June 30, 1902, were us follows: Class A, $991,500 at 7 p. c. ; Class B, $1,515,500 at 7 p. c., $8,500 at 5 p. c., $1,100,000 at 4J p. c., and $1,344.500 at 4 p. c. ; Class C, $1,307,000 at 7 p. c.. $261,000 at 5 p. c., and $1,282,000 at 4 p. c. ; Class D, $110,000 at 7 p. c., $425,000 at 4J p. c., and $639,000 at 4 p. c. Collateral Trust Bonds. — Secured by deposit with the American Loan and Trust Co., Boston, Mass., trustee, of an equal amount of tho 1st mtge. bonds of the Maine Shore Line RR. Co. (Soo following paragraph.) The Maine Central RR. Co. pnys to the trustee the interest on the Maine Shore Line bonds, and from the amount thus received the trustee pays the interest on the collateral trust bonds, and applies the remaining 1 p. c. to a sinking fund for the retirement of thofe bonds at maturity. The fnnl amounted. July 1, 1902, to $176,217.18. Maine Shore Line First Mortgage Bonds. — Secured on the Mount Desert Branch, 41.13 miles. The amount authorized and issued 5sr $750,000. Ponds amounting to $76,000 are outstanding in the hands of the public, $5,000 are owned by the Maine Central RR. Co. and $669.000 are deposited with the American Loan and Trust Co., Boston, Mass., as security for the collateral trust bonds. Sinking Fund Bonds. — These bonds arJ •a 1 SERVICE CABS Owned Leased •a 1 Coaches&Smok. . 591 533 1,124 Coal 3,381 1,921 5 302 Officers' & Pay. . . 6 6 i? Combination. . . 77 184 261 Box 2,909 2,464 5 373 Air Drake Instruc. 1 i Parlor. 77 3 80 Flat 1 130 600 1 730 19 15 34 13 1 14 182 35 217 23 21 44 Sleeping. 26 26 55 141 1961 179 89 268 Klectric Motors. 47 4 51 Milk.. 48 13 61 i Steam Shovels. . . 8 5 13 Electric Trailers 47 47 Eastm'nHeater 48 48 i Work 84 33 117 Dining 1 2 3 Carriage 32 32 Tool 25 ?3 48 Raggage & Mail 163 85 248 StocL.. 4 2 6 Truck 23 23 Adams Express . 13 13 Pile Driver Cars. .. 8 2 10 Totals 1,055 812 1,867 Totals 7 741 5 224 12965 Totals. 376 194 570 6. Floating Stock. — Steamers, 3; ferryboat, 1; steam tugs, 14; car floats, (10-car, 13; 12-car, 5; 14-car, 5; 16-car, 12; 22-car, 4), 39; derrick, 1. 6. General Income Account, year ending June 30, 1902. Earnings— Passenger $17,866,424 51 Freight 21,018,284 05 Mall and Express 2,107,38719 Miscellaneous 2,528,99136 Totals ($21,467.09 per mile) $43,521,087 11 Net Earnings (28.14 p. c.) $12.247,21350 Dividends on Stocks Owned 81,64234 Interest on Bonds Owned 79,523 80 Dividends on Stocks Leased 354,6«t; (to Miscellaneous Income 97,22786 Expenses— Main t. Way & Structures $6,157,902 11 Maintenance of Equipment 5,426,008 05 Conducting Transportation 18,827,235 47 General 862,72798 Totals ($15,426.06 per mile) $31.273,873 t Taxes . $2,410,380 51 Interest Accrued (see footnote*) 1,306,323 60 Net Rentals of Leased Lines 4,464,710 62 Dividends, J., O., J. & A., 2 p. c. each. 4,296,568 00 Surplus Income 382,29077 Total $12,860,273 50 Total $12,860,273 50 •Consisting of the following Item? : Interest on funded debt (N. Y., N. H. & H. 1st 4s, $80,000 ; N. Y., P. & B. gon. 4s, $40,000 ; Shore Lino 41s, $9,000 ; Housatonic 1st 4s, $4,000 ; Housatonlc consols, $141,950), $274,950; on convertible debenture certificates, $655,888, on non-couvertlblq debentures. $375.000; on current liabilities, $430.60 — total, $1,306,323.60. POOR'S MANUAL NEW YORK, NEW HAVEN AND HARTFORD RR. CO. 27 7. Profit and Loss Account, June 30, 1902. — Credits: Balance, June 30, 1001, $13,- 123,517.26; surplus income, $382,290.77; profit on sale of stocks, $2,963.38— total, $13,- 508,771.41. Debit: Settlement of old claims against leased lines prior to leases, and worthless accounts charged off, $9,926.25; balance, June 30, 1902, $13,498,845.16 — total, $13,508,771.41. 8. General Balance Sheet, June 30, 1902. Cost of Road and Arpurt. (Sec. 16) . $59,447,364 38 Leased Lines' Stocks Exch. (Sec. 17) 14,399,291 50 St'ks and Bonds Owned (see Sec. 18) 9,612,370 11 Materials and Supplies 2,455,640 95 Cash and Current Assets 13,458,927 83 N. Y., P. & B. & O. C. RRs. Term. Co. 1,532,948 56 Terminal Lands at Providence 756,117 00 Harlem River & Pt. Chester RR. Co. 5,502,777 40 Dedham and Hyde Park Improve 137,145 94 Common Stock Paid in ($100 shares) $54,685,400 00 Convert. Deben. Certif. (Sec. 11).. 16,397,20000 Non-Conv. Deb. (see Sees. 12, 13).. 10,000,00000 Funded Debt Outstand. (see Sec. 14). 6,139,000 00 Current Liabilities 5,927,472 69 Accrued Interest and Rentals 574,27304 Insurance Fund 8039278 Profit and Loss 13.498,846 16 Total Assets $107,302,583 67 Total Liabilities $107,302,583 67 9. Statement showing the rentals accrued during the year and the net rental pay- ments, these latter being exclusive of dividends on stocks exchanged for New Haven shares : Date of Lease. Term of Lease. TOTAL RENTAL ACCRUED. Net Rental Payment. Dividends Interest. Cash. Total. Berkshire Apr. 1,1893 Oct. 1, 1882 1877 July 1, 1892 Oct. 1,1873 Nov. 1,1898 Apr. 1,1887 July 1, 1898 Apr. 1,1897 Apr. 1, 1897 Feb. 9, 1869 July 1, 1896 Oct. 1, 1887 1896 Apr. 1,1896 July 1,1892 Apr. 1, 1887 Dec. 3, 1870 Mar. 1, 1893 Apr. 1,1888 Dec. 31, 1900 Nov 21 1887 99 years 99 years 999 years 99 years 99 years 1 year 99 years 99 years 5 years 5 years 99 years 93 years 99 years Optional 99 years 99 years 99 years Perpetual 99 years 99 years Temp'ary Optional 99 years 99 years 95i years 99 years 99 years 99 years 99 years $ 36,000 119,940 $ $ 250.00 36,250.00 144,940.00 1,750.00 63,500.00 170,000.00 1,000.00 206,000.00 1,120,282.20 4,325.00 1,925.00 290,071.43 58,198.00 17,500.00 3,650.00 5,000.00 46,630.00 255,400.00 40,26525 1,816,326.07 496,673.07 5,718.00 3,120.89 6,250.00 11,350.00 27,788.71 13,463.00 416,000.00 27.172.00 1,800.00 $ 36,250.00 81,160.00 1,750.00 41,180.00 170,000 00 1,00000 108,780.00 972,508.20 4,325.00 1,925.00 290,071.43 58,198.00 17,500.00 3,650.00 5,00000 32,486.00 159,260.00 40,265.25 1,430,066.07 496,673.07 5,718.00 3,120.89 6,250.00 11.350.00 27,788.71 13,463.00 416,000.00 27,172.00 1,800.00 Boston & N. Y. Air Line.. Colchester Danbury & Norwalk .... Harlem Riv. & Pt. Chester Mid., Mer. & Waterbury.. Naugatuck 25,000 1,750 30,000 33,500 170,000 '1,060.66 200,000 150,000 6,000 970,000 New England . . . 282.20 4,325.00 1 925.00 Milford & Woonsocket. Mil!., Frank & Prov. . . Norwich & W orcester . Prov. & Springfield. . . . R.I. & Massachusetts. . Rockville 240,000 20,698 48,000 37,500 2,071.43 i7,506'.66 3,650.00 Woonsocket & Pascoag New Haven & Derby. . . New Haven & N'th'm'tn. Holvoke & Westfield . . Old Colony Boston & Providence . . Attleborough Branch. . Chatham 17,880 98,400 5,000 28,750 142,000 15,000.00 40,265.25 13,818.07 9,873.07 450.00 3,120.89 100.66 1,544.71 1,170.498 400,000 5,268 632,010 86,800 Nantasket Beach Plymouth & Mid'b'r'gh Prov., War. & Bristol. . Pawtuxet Vallcv. . . . Apr. 1, 1888 Dec. 1,1892 July 1,1891 July 1,1884 Julv 1,1892 Apr. 1, 1893 Apr. 1, 1893 6,250 11,250 26,244 7,063 350,000 26,922 6,400 60,000 Providence & Worcester . Stockbridge & Pittsfield . West Stockbridge 6,000.00 250,00 1,800.00 Totals 2,898,913 2,270,210 123,225.62 5,292,348.62 4,464,710.62 In the cases of the New England, the Norwich and Worcester and the Boston and Providence, the cash rentals were disbursed direct by the lessee. It must be understood that the obligation? of the Boston and New York Air Line RR. Co., New England RR. Co., New Haven and Northampton RR. Co., and Old Colony RR. Co.. on account ( the lines leased by them, are assumed by tho New York, New Haven and Hartford RR. Co. only during the continuance of its leases of the parent roads. The dates and terms of lea&es of such subordinate leased lines shown in the preceding statement refer to the agreements with the direct lessees. The lease of the Attleborough Branch RR. to tho Boston and Providence RR. Corpn. expired on Dec. 31, 1900, but the N Y., N. H. A H. RR. Co. continued to operate the road, under a temporary arrangement, pending the construction of a branch of the Old Colony RR. from North Attleboro to Adamsdalc. a distance of about 3.5 miles. 10. Capital Stock — The total amount authorlzpd Is $100,000.000, the unissued shares being reserved for the retirement of the convertible debenture certificates (see Sec. 11), for the acqui- sition of leased line stocks, and for additions and betterments. 11. Convertible Debenture Certificates.— These are in denominations of $10 $1,000, and are in coupon and registered forms. They are dated April 1, 1893, and were ex- changeable for stock on April 1, 1903, or within 60 days thereafter; $16,211,900 of them have been thus converted into capital stock, leaving only $185,300 outstanding, which will become payable in cash on April 1, 1908. Interest at 4 p. c. per annum, payable April and Oct. In New York, N. Y. Registrar : Farmers' Loan and Trust Co., New York, N. Y. 28 POOR'S MANUAL OF RAILROADS — NEW ENGLAND GROUP. 12. Non-convertible Debenture CertiflrateM, 4m. — These were authorized to the amount of $10.000.000. but authority to issue the remaining $5,000,000 has been revoked. The certificates are dated March 1 1897, mature March 1, 1947, the interest on them being payable March 1 and Sept. 1, in New York. N. Y. i:t. Non-convertible Debenture Certificate*, 3Js. — These are authorized to the amount of $10,000,000. They are daUd March 1, 1901, mature March 1, 1947, the Interest on them being payable on the 1st of March and Sept., in New York, N. Y. 14. Funded Debt.— The funded debt outstanding on June 30, 1902 — total $6,139,000, as per general balance sheet — consisted of th-,- following issues: 92,0,000 A. Y., N. H. & U. RR. 1st 4s of June 1. 1903, part of au authorized issue of $5,OUO,000, secured on the line from Woodlawn Junction, N. Y., to Springfield, Mass., 122.44 miles. 9 1,OOO,(NM> .V. Y., P. »£ B. RR. gen. 4a of April 1. 1942, secured by first mortgage on the line from Providence, R. I., to New London, Conn., 62 miles. The authorized Issue is $4,000,000, the unissued bonds being reserved for future needs of the company. $200,000 Shore Line Ry. 1st 41s of March 1, 1910, secured on the line from New Haven to New London, Conn., 49 miles. 9 1OO.OOO Housatonic RR. 1st 4s of April 1. 1910, secured on the line from Bridgeport, Conn., to Massachusetts State Line, 75 miles. f2,83D.OOO Housatonic RR. consol. gold 6s of Nov. 1, 1937, secured by second mortgage on the line from Bridgeport, Conn., to Massachusetts State line, 75 miles, and by first mortgage on the branches from Botsford to Huntington, Conn., 9.79 miles, and from Brookfield Junction to Dan- bury, Conn., 5.36 miles. 15. Xew Haven Steamboat Bonds. — In the purchase .of the New Haven Steamboat Line, the company assumed the following outstanding bonds, secured on the property: $139.500 1st mtge. 6 p. c. 10-yr. $500 and $1,000 gold bonds, due April 1, 1902, interest April and Oct. ; and $225,000 mtge. 5 p. c. 20-yr. $500 and $1,000 gold bonds, due June 1, 1919, but subject to call after 1904, interest June and De.1. Interest payable at tho Lincoln National Bank, New York. !'.. Cost of Road and Appurtenance*. — New York, New Haven and Hartford RU. (con- struction, $35,229,965.16; equipment. $5,261,793.72), $40,491,753.88; Stamford and New Canaan RR., $100,000 ; Hartford and Connecticut Valley RR., $896,647.07 ; New York, Providence and Boston RR., $6,889,193.04; Shore Line Ry., $1,160,4!)6.10 ; Housatonic RR., $7,105,579.55; She- paug, LHchfield and Northern RR., $649,040.05 ; expended for construction on leased lines, ex- clusive of H. R. & P. C. RR. and O. C. UR., $2,145,649.69 — total, $59,447,364.38. 17. Leaned Linen' Stocks Exchanged. — The amount shown in the balance sheet, $14,- 399,291.50, represents the ledger value of tb.3 $36,163,000 stocks of leased lines not merged received in exchange for N. Y., N. H. & H. RR. stock. (See under " History " for details.) 18. Stocks and Bonds Owned. — On June 30, 1902, the company owned stocks valued at $7,137,656.78, and bonds valued at $2,474,713.33, but does not publish the details. The following is a detailed statement of the stocks and bonds owned by the company on June 3O, 19OO, the ledger value of the stocks being $6,860,352.48, and of the bonds $2,291,033.33 — a total of $9,151,- 385.81. Tho stocks on both dates are exclusive of those received in exchange for N. Y., N. H. & H. RR. stock : STOCKS. N. Y., N. H. & Hartford RR. Co $1,293,600 Old Colony RR. Co 1,000 New England RR. Co., Com 1,000 New England RR. Co., Pref 100 Boston & N. Y. Air Line RR. Co.. Com.. 743,800 Boston & N. Y. Air Line RR. Co.. Pref. . 8,000 Providence & Springfield RR. Co 438,350 Woonsocket & Pascoag RR. Co 200,000 R. I. & M. RR. Co., Massachusetts Div.. 100,000 K. I. & M. RR. Co., Rhode Island Dlv 150,500 Middletown, Meriden & Waterbury RR. Co 100,000 New Haven & Northampton Co 56,500 Harlem River & Port Chester RR. Co.... 42,550 West Stockbridge RR. Co 39,600 New Haven & Derby RR. Co 71,800 Storkbrldge & Pittsfleld RR. Co 9,500 Naugatuck RR. Co 21,400 Dan bury & Norwalk RR. Co 675 Wood River Branch RR. Co 20,000 Narragansett Pier RR. Co 18,700 Chicago, Rock Island & Pacific RR. Co.. 2,400 Lowell & Framingham RR. Co 300 Providence & Stonington SS. Co 2,000,000 Meriden Electric RR. Co 994,500 Stamford Street RR. Co., Com 35,630 Stamford Street RR. Co., Pref 42,650 Boston Terminal Co 200,000 •N. Y., P. & B. & O. C. RR. T. Co 250,000 New York Transfer Co 4,000 Derby Paper Mills Co 895 New Haven Steamboat Co 500,000 Total . ...$7,347,450 BONDS. Providence & Springfield RR. Co. 5 p. c. 1st Mtge., due July 1, 1922 $750,00u New Haven & Derby RR. Co. Mtge. Cer- tificates 6 p. c., due Feb. 1, 1900 478,000 New Haven & Derby RR. Co., 1st Mtge. 7 p. c., due Feb. 1, 1900, $1,000 bonds.. 190,000 New Haven & Derby RR. Co., 1st Mtge. 7 p. c., due Feb. 1, 1900, $500 bonds.... 24,000 New Haven & Northampton Co., 5 p. c. Consol., due July 1, 1904 350,000 Pawtuxet Valley RR. Co., 4 p. c., due April 1, 1925 160,000 New Haven Steamboat Co., 5 p. c. $1,000 bonds, due June 1, 1919 99,000 New Haven Steamboat Co., 5 p. c. $500 bonds, due June 1, 1919 75,000 Meriden Horse RR. Co., 1st Mtge. gold, 5 p. c., due 1924 101,000 Stamford Street RR. Co., $500 bonds, 5 p. c., due Aug. 1, 1909 70,000 Stamford Street RR. Co., $100 bonds, 5 p. c., due Aug. 1, 1909 5,000 Atla? Tack Co. $100 bonds, 5 p. c f" Total $2,302,300 In addition to the foregoing stocks enumerated, the company owned 1,000 shares of stock of tho Pontiac Branrh RR. Co., and one-twelfth interest in the Iron Works Aqueduct Co., Brookfleld, Conn. •The N. Y., P. & B. & O. C. RR. Terminal Co. stock represents paid assessments of $15 per share. The bonds of its leased lines owned by the company on June 3O, 19O2. were as follows : $350,000 New Haven and Northampton 5s of July 1, 1904; $160,000 Pawtuxet Valley 1st 4s of April 1, 1925 ; $225,000 New Haven and Derby 1st 7s of Feb. 1, 1900 ; $480,000 New Haven and Derby 6 p. c. mtge. certs, of Feb. 1. 1900; $240.000 Nantasket Beach 1st 2Js of April 1, 1901; and $750,000 Providence and Springfield 1st 6s of July 1, 1922. POOR'S MANUAL — NEW YORK, NEW HAVEN AND HARTFORD RR. CO. The following stocks and bonds are held by the company as lessee of the Old Colony RR.: STOCKS. 12,000 shares of Old Colony S. B. Co. ft capital stock (2,500 shares) of N. Y.( P. & B. & O. C. RR. Term. Co., on which as sessments of $15 a share have been paid. 1,000 shares of Boston Terminal Co. 1,000 shares of Boston Term. Co., held b> Old Colony RR. Co. as lessee of B. & P. RR. 400 shares of New Bedford, Martha's Vineyard and Nantucket S. B. Co. 1.435 shares of Union Freight RR. Co. 1,435 shares of Union Freight RR. Co., held by O. C. RR. Co. as lessee of B. & P. RR. 259 shares of Lowell and Framingham RR. Co. 105 shares of the Sea View Hotel and Wharf Co. 1 share of Oak Bluffs, Land and Wharf Co. 110 shares of Framingham and Lowell RR. Co. 998 shares of Fall River, Warren and Prov. RR. Co. 8 shares of Prov., Warren and Bristol RR. Co., Pref. STOCKS — Continued. 1,491 shares of P., W. & B. RR. Co., Preferred held by O. C. RR. Co. as lessee of B. & ^ P. RR. 1,872 shares of P., W. & B. RR. Co., Common, held by O. C. RR. Co. as lessee of B. & P. RR. 1,500 shares of B. & P. RR. Co. in R. I., held by O. C. RR. Co. as lessee of B. & P. RR. BONDS. 300 $1,000 1st mtge. 7 p. c. bonds, Nos. 1 to 300, inclusive, of Fall River, Warren and Provi- dence RR. Co., dated April 17, 1873, due April 17, 1883. 500 $1,000 mtge. 7 p. c. bonds (interest reduced Oct. 1, 1&79, to 5 p. c.), Nos. 1 to 500, inclu- sive, of Framingham and Lowell RR. Co., dated April 1, 1871, due April 1, 1891. 19. RAILROADS OWNED OR LEASED BY THE N. Y., N. H. & H. RR. Co. BERKSHIRE RR. — West Stockbridge to Conn. State Line, 20.53 m. ; total track (steel, 25.87 m.), 26.58 miles. HISTORY. — Chartered April 13, 1837; opened Dec. 1, 1842. Leased to the N. Y., N. H. & H. RR. Co., for 99 years from April 1, 1893 ; annual rental, 6 p. c. on the capital stock. INCOME ACCOUNT, year ending June 30, 1902. — Rental, $36,250 ; dividends, $396 — total, $36,646. Expenses, $441. Net income, $36,205. Paid divi- dends (15th, J., A. J. & O., 1J p. c. each), $36,000. Surplus, $205. BALANCE SHEET, June 30, 1902. — Capital stock, ($100 shares), $600,000; unfunded debt, $1,426; profit and loss, $15,079 — total, $616,505. Contra : Cost of road and equipment, $600,000 ; other investments, $3,970 ; other assets, $12,535— total, $616,505. CORPORATE OFFICERS. — H. T. Robbins, Pres., Great Barrington, Mass. ; D. A. Kimball, Sec. & Treas., Stockbridge, Mass. Office, Stock - bridge, Mass. BOSTON AND NEW YORK AIR LINE RR. — New Haven to Willimantic, Conn., 52.26 m. ; 2d track, 5.23 m. ; total track ( steel. 70.12 m.), 74.12 miles. Rail, 56 and 70 Ibs. HISTORY. — Reorganization of the New Haven, Middletown and Willimantic RR. Co., after fore- closure in 1875. ( See Manual for 1884, page 102. ) Leased to the N. Y., N. H. & H. RR. Co., for 93 years from Oct. 1, 1882 ; annual rental, 4 p. c. on the preferred stock and interest on bonds. BALANCE SHEET, June 30, 1902. — Capital LEASED TO B. & Cololieater Ry. — Turnerville to Colchester, Conn., 3.59 m. ; total track (steel, 3.93 m.), 4.62 miles. Chartered in 1875 ; opened in 1876 ; leased for 999 years to the B. & N. Y. A. L. RR. Co. Railroads Owned or Leased by the N. DANBURY AND NORWAL.K RR Dan- bury to Wilson's Point, Conn., 26.28 m. ; Branch- ville to Ridgefleld, 3.97 m. ; Bethel to Hawleyville, 6.95 m — total, 36.20 m. ; total track (steel, 54 m.), 57.26 miles. HISTORY. — Chartered May, 1849. (See Manual for 1892, page 272.) Leased to the N. Y., N. H. &. H. RR. Co., for 99 years, from July 1, 1892, for interest on bonds and 5 p. c. on stock. The lessee owns $446,400 of the capital stock. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $600,000; funded debt (see below), $650,000; accrued interest, $14,875; profit and loss, $134,368 — total, $1,399,243. Contra : cost of road, $1,170,271; equipment, $228,972 — total, $1,399,243. FUNDED DEBT, $100,000 consol. 6s and $400,000 consol. 5s of July 1, 1920, and $150,000 gen. 5s of April 1, 1925. CORPORATE OFFICERS. — F. St. J. Lockwood, Pres., Norwalk, Conn. ; John M. Hall, Vlce-Pres. ; W. L. Squire, Treas. ; H. M. Kochersperger, Sec. ; New Haven, Conn. Office, New Haven, Conn. HARLEM RIVER AND PORT CHESTER RR. — New Rochelle to Harlem River, N. Y., 11.5 m., double track ; 1.25 m., 3d track ; 1.25 m., stock — common, $909,468 ; preferred, $2,998,500 ; convertible bonds, $1,500 ; funded debt ( 1st 5s of Aug. 1, 1905, $500,000; current liabilities, $463; accrued interest, $11,292; profit and loss, $242,040 — total, $4,663,263. Contra: Construction, $4,488,- 525; equipment, $129,932; securities owned, $44,- 806 — total, $4,663,263. CORPORATE OFFICERS. — J. M. Hall, Pres.; George H. Brush, Vice-Pres. ; W. L. Squire, Treas. ; W. L. Squire, Sec. Office, New Haven, Conn. N. Y. A. L. RR. Capital stock ($100 shares), $25,000; funded debt (1st 7s of July 1, 1907), $25,000 — total, represent- ing cost, $50,000. Funded debt i* guaranteed by the N. Y., N. H. & H. RR. Co. Samuel P. Willard, Pres., Colchester, Conn. y., N. H. & H. RR. Co. — Continued. 4th track; total track (steel, 89.56 m.), 100.42 miles. Rail, 60 to 100 Ibs. HISTORY. — Chartered April 23, 1866; road opened Nov. 24, 1873. Leased to the N. Y.. N. H. & H. RR. Co., from Sept. 30, 1873 ; rental, interest on bonds. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($1,000,000 auth. ; $100 shares). $42,550; funded debt (see below), $3,000,000; un- funded debt, $5,502,777 — total, $8,545.327. Contra : Cost, of road, etc., $8,545,247; cash, $80 — total, $8,545,327. FUNDED DEBT — $1,000,000 1st 7s and $1,000,000 1st 6s of Oct. 1, 1903 ; and $1.000,000 2d 4s of June 1. 1911. CORPORATE OFFICERS. — J. M. Hall, Pres.. New Haven, Conn. ; Wm. D. Bishop, Vice-Pres.. Bridgeport, Conn. ; W. L. Squire, Treas. ; W. B. Barnett, Sec. OfBce, Grand Central Station, New York. N. Y. MIDDI.ETOWN, MERIDEN AND WATERBITRY RR Middletown to Water- bury, Conn., 29.5 m. ; total track (steel; 56 Jbs.), 37.5 miles. No regular trains are run over the section from Westfleld to Cromwell, Conn., 3.5 miles. 30 POOR'S MANUAL OF RAILROADS — NEW ENGLAND GROUP. HISTORY. — This company is a reorganization, lu Oct.. 18H8, of the Meriden. Waterbury and Connecticut Kiver RR. Co. (See Manual for 1897. page 20.) Leased from year to year to the N. Y.. N. H. & H. RR. Co., the lessee to make repairs. FINANCIAL STATEMENT. — Capital stock. $100,000. No bonded or other indebtedness. CORPORATE OFFICERS. — John M. Hall, Pres. ; Wm. L. Squire, Sec. & Treas., New Haven, Conn. NAUGATUCK RR — Naugatuck June, to Wlnsted. Conn., 56.55 m. ; Watertown to Water- bury. Conn.. 4.44 m. — total, 60.99 m. ; 2d track, 5.40 m. ; total track (steel, 90.26 m.), 92.81 miles. Rail, 56 to 60 Ibs. HISTORY.— Chartered In May, 1845; opened through Sept. 24, 1849. Leased for 99 years from April 1, 1887, to the N. Y., N. H. & H. RR. Co. ; rental, bond interest and 10 p. c. dividends. BALANCE SHEET, June 30, 1902. — Capital f-.tock. $2.000,000; funded debt (1st 5s of June 1, 1913), $150.000; accrued interest, $500; profit and loss, $272,784 — total, $2,423,284. Contra : Construc- tion. $2,024,697 ; equipment, $297,087 ; real estate, $101,500— total, $2,423,284. The line between Naugatuck Junction and Waterbury was being double tracked in Sept., 1902, and it was proposed to meet the cost of the work by an issue of 3J p. c. debentures of this company. CORPORATE OFFICERS. — W. D. Bishop, Pres. & Sec., Bridgeport, Conn. ; W. L. Squirt, Treas., New Haven, Conn. Office, New Haven, Conn. NEW ENGLAND RR.— Boston, Mass., to Hopewell June., N. Y., 213.56 m. ; Wicopee to FIshkill Landing, N. Y., 1.71 m. ; Boston to South Uoston, Mass., 1.04 m. ; Newton, Mass., to Woon- socket, R. I.. 28.67 m. ; Junction to Dedham. Mass., 1.53 m. ; Islington to Dedham, Mass., 2 m. ; Providence, R. I., to Willimantic, Conn., 57.76 m. ; East Thompson, Conn., to Southbridge, Mass., 17.36 m. ; East Hartford, Conn., to Springfield, Mass., 28.31 m. ; Melrose to Rockville, Conn., 7.22 m. — total. 359.16 m. ; 2-1 track, 117.67 m. ; side and other tracks, 198.67 m. — total track (steel, 655.06 m.), 675.50 miles. Rail, 60 to 79 Ibs. Ferry : Fishkill Landing to Newburgh, N. Y., 0.79 mile. HISTORY. — Reorganization, Aug. 26. 1895, of the N. Y. & N. E. RR. Co. (See Manual for 1898. page 587.) Leased to the N. Y.. N. H. & H. RR. Co. for 99 years from July 1, 1898, the lessee assuming all obligations of this company and guaranteeing dividends of 3 p. c. per annum on thp ^referred stock. In connection with the lease, provision was made for the exchange of this company's common and preferred stock for capi- tal stock of the N. Y., N. H. & H. RR. Co. (See Manual for 1899, page 26.) Almost all of the capital stock has been so exchanged. (See Sec. 2.) BALANCE SHEET, June 30, 1902. — Capital stock ( $20,000,000 common, $5,000,000 preferred ; $100 shares), $25,000,000; funded debt (see below), $16,500,000; current liabilities, $36,157 — total, $41,536,157. Contra : Cost of road and equipment, $28,798,192; underlying mtge. bonds of N. Y. & N. E. RR. Co., $11,500,000; cash and current as- sets, $886,414; profit and loss, $351,551 — total, $41.536,157. FUNDED DEBT consists of $6,000,000 7 p. c. and $4,000,000 6 p. c. N. Y. & N. E. RR. Ists of Jan. 1, 1905 ; $1,500,000 N. Y. & N. E. Terminal 4e of April 1, 1939; and $5,000,000 N. E. RR. gen. gold 5s of July 1, 1945. The N. Y. & N. E. 1st mtge. bonds are secured on the entire railroad property ; the terminal mortgage bonds on part of the tornMnal property in Boston. The gen. mtge. gold bonds are secured on the entire prop- erty of the company, subject to the liens of the prior mortgages, for the retirement of which a sufficient amount of the gen. mtge. gold bonds is reserved. The gen. mtge. gold bonds are guaranteed by endorsement, by the N. Y., N. H. & H. RR. Co. (See Manual for 1899, page 36.) CORPORATE OFFICERS. — John M. Hall, Pres., New Haven, Conn. ; E. D. Robbins, Vice- Pres., Hartford, Conn. ; J. W. Perkins, Sec. ; G. B. Phippen, Treas., Boston, Mass. Office, Boston, Mass. RAILROADS LEASED TO THE N. E. RR. Co., LEASES ASSUMED BY THE N. Y., N. H. & H. RR. Co. Mllford anil Woon socket RR. — Bel- lingham to Ashland, Mass., 15.13 m. ; total track (steel, 16.9 m.), 18.77 miles. Rail, 56 Ibs. Chartered May 2, 1855. Road opened (Milford to Bellingham, 3.96 m.) June 2, 1866. Leased to the N. E. RR. Co., for 5 years from April 1, 1902, at a rental of $4,700 per annum. Payments, year ending June 30, 1902 : Interest on bonds, $3,0(Ki; dividends (1 p. c.), $1,486 — total, $4,486. Deficit, $400. Balance sheet, June 30, 1902. — Capital stock paid In (auth., $200,000), $148,1)0; funded debt (1st 5s of Dec. 1. 1908), $60,000— total, $208,600. Contra : Construction, $173,381 ; profit and los*. $35,211! — total, $208,600. W. F. Draper, Pres., Hopedale, Mass. ; J. E. Walker, Sec. & Treas., Milford, Mass. Office. Mllford. Mass. Milford, Franklin and Providence RR. — Franklin to Bellingham, Mass., 4.65 m. ; total track (steel, 5.02 m.), 5.09 miles. Road opened Aug. 1, 1883. Leased to the N. E. RR. Co., for 5 years from April 1, 1897, at a yearly rental of $1,800. Rental, year ending June 30. 1901, $1,800. Payments : Interest on bonds, $500; dividend (1 p. c.), $1,000; expenses. $4 — total, $1.604. Surplus, $1%; deficit forward, $8,255: net deficit. $8,059. Balance Sheet, June 30, 1901. — Capital stock, $100.000; funded debt (1st 6s of Jan. 1. 1909), $10.000 — total, $110,000. Contra: Cost of road, $101,308; cash, $633; profit and loss, $8,059— total, $110.000. Edgar K. Ray, Pres., Franklin, Mass. ; W. F. Draper, Vice-Pres., Hopedale, Mass. ; Adelbert D. Thayer, Treas. ; G. W. Wiggin, Sec., Franklin, Mass. Office, Franklin, Mass. Norwich and "Worcester RR. — Groton, Conn., to Worcester, Mass., 70.97 m. ; connection at Norwich with N. L. N. RR., 0.63 m. — total, 71.60 m. ; total track (steel, 99.73 m.), 108.25 miles. Rail, 60 and 80 Ibs. Consolidation in May, 1836, of the Boston, Nor- wich and New London and the Worcester and Norwich RR. Cos. The extension to Groton, 5.44 m., was opened June 4, 1899. The company owns the capital stock ($500,000) of the Norwich and New York Transportation Co. The entire prop- erty is leased to the N. E. RR. Co. for 99 years from Feb. 9, 1869 ; lease assumed by N. Y., N. H. & H. RR. Co. Annual rental — interest on bonds and 8 p. c. on the capital stock. Income, year ending June 30, 1902 : Rental, $288,000; other, $730 — total, $288,730. Expenses, $510. Net income, $288.220. Paid interest on bonds, $48,000; dividends (J. & J., 4 p. c. each), $240,000 — total, $288,000. Surplus, $220; surplus forward, $1,231,732 — total, $1,231,952. Balance Sheet, June 30, 1902. — Capital stock (common, $6,600; preferred, $3,000.000), $3,006,600; funded debt (debenture 4s of March 1, 1927), $1,200,000 ; unfunded debt, $63,585 ; Income balance, $16,000 ; profit and loss, $1,231,952 — total, $5,518,137. Contra : Cost of road, etc., $4,162,514 ; stocks and other investments, $503,107; other assets, $852,516 — total, $5,518,137. Of the old common stock, $6,600 was never presented for exchange into preferred stock. It receives no dividends. The authorized Issue of bonds is $2,000,000, of which $800,000 Is reserved for Improvements, etc. POOR'S MANUAL NEW YORK, NEW HAVEN AND HARTFORD SYSTEM. 31 A. O. Bullock, Pres., Worcester, Mass. ; M. M. Whlttemore, Treas. & Sec., New Haven, Conn. Office, Worcester, Mass. Providence and Springfield RR. — Provi- dence to Douglas June., 27.73 m. ; total track (steel, 30.96 ra.), 33.18 miles. Chartered 1853 ; road opened Aug. 11, 1873 ; ex- tension from Pascoag to Douglas June., 6.84 m., opened June 11, 1893. No regular trains are run over that section. Leased to the New England RR. Co., for 93 years from July 1, 1896; annual rental, fixed charges and 4 p. c. on the capital stock. Capital stock ($600,000 auth. ; $100 shares), $517,- 450; funded debt (1st 5s of July 1, 1922), $750,000 — total, representing cost of road, etc., $1,267,450. W. Tinkham, Pres. ; E. G. Buckland, Treas. & Clerk., Providence, R. I. Office, Providence, R. I. Rhode Inland and Massachusetts RR. (In Mfi.sM.). — Franklin, Mass., to R. I. State Line, 6.52 m. ; total track (steel, 6.52 m.), 7.38 miles. Operated by the N. Y., N. H. & H. RR. Co. at a rental of $10,000 per annum, but there has been no formal adoption of the old lease. (See Manual for 1896. page 682.) Balance Sheet, June 30, 1902. — Capital stock, $100,000; surplus, $14,821 — total, $114,821. Contra: Cost of road, $112,321 ; other assets, $2,500 — total, $114,821. J. M. Hall, Pres., New Haven, Conn. ; E. G. Buckland, Treas. & Clerk, Providence, R. I. Office, Providence, R. I. Rhode Island and Massachusetts RR. (In R. I.). — Valley Palls, R. I., to Mass. State Line, 7.07 m. ; total track (steel, 7.20 m.). 7.90 miles. Chartered Jan., 1865 ; road opened in Sept., 1877. Operated by the N. Y., N. H. & H. Railroads Owned or Leased by the N. NEW HAVEN AND DERBY RR. — New Haven to Ansonia, Conn., 12.90 m. ; Derby to Huntington, Conn., 3.79 m. — total, 16.69 m. ; total track (steel, 25.64 m.), 25.97 miles. Rail, 56 to 67 Ibs. HISTORY. — Chartered in May, 1864 ; main line opened Aug. 1, 1871 ; branch, Nov. 14, 1888. Leased for 99 years from July 1, 1892, to N. Y., N. H. & H. RR. Co. Rental, interest on bonds and divi- dends of 4 p. c. on capital stock. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($700,000 auth.; $100 shares), $447,- 000; funded debt (see below). $1,280,000; accrued interest, $4,792; profit and loss, $28,275 — total, RR. Co., under an agreement for 2 years from April 1, 1902, the lessee to pay operating expenses and taxes, but no rental. Rental, year ending June 30, 1902, $10,000; interest received, $25 — total, $10,025. Payments: Dividends (5 p. c.), $9,000. Surplus, $1,025; surplus forward, $4,110 — total. $5,135. Balance Sheet, June 30, 1902. — Capital stock, $180,000; profit and loss, $5,135 — total, $185,135. Contra : Cost of road, $183,580 ; other assets, $1,555 — total, $185,135. Robert W. Taft, Pres. ; E. G. Buckland, Sec. & Treas., Providence, R. I. Office, Providence, R. I. Rockvllle RR. — Vernon to Rockville, Conn., 4.43 m. ; total track (steel), 5.45 miles. Chartered May 6, 1857 ; road opened Aug. 10, 1863. Operated by the N. Y., N. H. & H. RR. Co., under a lease terminable on thirty dayb' notice by either party, at a rental of $10 a day. Capital s.tock ( common, $68,750 ; preferred, $40,- 000), $108,750. The N. Y., N. H. & H. RR. Co. owns the entire capital stock, both common and preferred. H. L. James, Pres. ; J. C. Hammond, Jr., Sec. & Treas. Office, Rockville, Conn. Woonsocket and Pascoagr RR. — Woon- socket to Harrisville, 9.45 m. ; total track (steel, 10.27 m.), 10.49 miles. Rail, 56 Ibs. Chartered May 21, 1889 ; opened about March 1, 1891. Leased to the N. E. RR. Co., for 99 years from April 1, 1896 ; rental, interest on the bonds. Capital stock paid in, $200,000; funded debt (1st 5s of Oct. 1, 1910), $100,000 — total, $300,000, repre- senting cost of property. The capital stock is owned by the lessee. Interest on bonds is guar- anteed by the city of Woonsocket. C. Peter Clark, Pres. ; G. B. Phippen, Treas. ; J. W. Perkins, Sec., Boston, Mass. y., N. H. £ H. RR. Co. — Continued. $1,760,067. Contra: Construction, $1,559,392; equipment, $200,675 — total, $1,760,067. FUNDED DEBT consists of $225,000 1st mtge. 7s and $480,000 6 p. c. mtge. certificates, both ma- tured Feb. 1, 1900; also $575,000 consol. mtge. 5 p. c. bonds, due May 1, 1918. The 1st mtge. bonds and the mtge. certificates were taken up at ma- turity by the lessee and are held as a charge against the road. CORPORATE OFFICERS. — J. M. Hall, Pres. ; W. E. Barnett, Vice-Pres. ; W. L. Squire, Treas. ; H. M. Kochersperger, Sec., New Haven, Conn. Office, New Haven, Conn. NEW HAVEN AND NORTHAMPTON RR. — New Haven, Conn., to Conway June., Mass., 94.64 m. ; Farmington to New Hartford, Conn., 14.09 m. ; Northampton to Williamsburg, Conn.. 7.51 m. ; South Deerfleld to Turner's Falls, Mass., 10.07 in. — total, 126.31 m. ; total track (steel, 174.48 m.), 180.02 miles. Rail, 60 Ibs. HISTORY. — Organized in May, 1836. (See Manual for 1891, page 378.) Leased for 99 years, from April 1, 1887, to the N. Y., N. H. & H. RH. Co. ; rental, interest on bonds and 4 p. c. on stock. The lessee owns all the capital stock and $350,000 of the convertible bonds. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($5,000,000 auth.; $100 shares), $2,460,000; funded debt (see below), $2,600,000; sinking fund, $345,000 ; profit and loss, $1,550,392 — total, $6,955,392. Contra : Construction and equipment, $6,582,017 ; other investments, $27,613 ; all other assets, $345,762 — total, $6,955,392. RAILROAD LEASED TO Hoi yoke and Weatfleld RR Holyoke to Westfield, 10.32 m. ; total track (steel, 14.05 m.), 24.56 miles. Chartered In 1870 ; opened throughout in 1879. Leased in perpetuity to N. H. & N. RR. Co., and lease assigned to the N. Y., N. H. & H. RR. Co. Rental, 50 p. c. of gross earnings, with a mini- mum guaranty of $8,000 a year. FUNDED DEBT consists of $1,200,000 consol. 6s of April 1, 1909 ; $700,000 Northern Extension 5s of April 1, 1911 ; and $700,000 convertible 5s of July 1, 1904. The consols, are a first lien on the line from New Haven, Conn., to Northampton, Mass., 76 m., and on the branches to New Hart- ford and to Williamsburg, a total of 97.6 miles. They are additionally secured by a sinking fund of $15,000 a year. (See Manual for 1900, page 30.) The Northern Extension bonds are a first lien on the extension from Northampton to Conway June, and on the Turner's Falls Branch. The convert- ible bonds fell due in 1896, but were extended for 8 years in consideration of a waiver of the con- vertible rights by the bondholders. CORPORATE OFFICERS. — J. M. Hall, Pres. ; E. A. Ray, Sec. & Treas., New Haven, Conn. Office, 214 Railroad Office Building, New Haven, Conn. N. H. & N. RR. Co. Income, year ending June 30, 1902 : Rental, $40,870; other receipts, $379 — total, $41,249. Pay- ments: Expenses, $3,519; dividends (12 p. c.). $31,200; interest on bonds, $8,000 — total, $42,719. Deficit, $1.470. Balance Sheet, June 30, 1902. — Capital stock, $260,000; funded debt (1st 4s of April 1, 1911). $200,000; income balance, $82,580 — total, $492,580. POOR fl MAM Al, «)K RAILROADS — XK\V K.\«;LAXD GROUP. Contra : Construction, $462,269 ; cash on band, $31.781 — total, $492,580. The bonds are guaranteed by the New Haven and Northampton RH. Co., tbe guaranty being assumed by tbe N. Y., N. II ft H. RR. Co. E. W. Cbaplin, Pres. ; Fred. F. Partridge, Tieas. ; James Kirkpatrick, Sec. Office, Holyoke, Mass. .Railroad* Owned or Leased by the N. Y., N. II. & 11. RR. Co. — Continut-d. OLD COLONY RR. — Boston, Mass., to New- port, K. I., 67.60 m. ; Mayflower Park to Somerset June.. Mass., 36.31 m. ; Middlebo rough to Prov- inootown, Mass., Si.t>6 m. ; Rayubam to Whitten- ton Juno., Mass., 3.38 m. ; Braintree to Kingston, Mass., 32.34 m. ; South Braintree to Plymouth, Mass., 26.04 m. ; Framingbam to Lowell, Mass., 26.12 m. ; New Bedford to Fitcbburg, Mass., 91.25 m. ; Neponset to Mattapan, Mass., 3.3 m. ; StougU- ton Branch June, to Stougbton, Mass., 1.65 m. ; Harrison Square, Mass., to Sbawmut and Milton Ji:nc., 2.39 ui. ; Whitman, Mass., to Bridgewator Iron Works, 6.12 m. ; Elmwood to Westdale, Ma07; other income, $187 — total, $28,094. Payments: Interest on bonds, SL'n.oOO; other interest. $438; taxes, $1.427— total. *•_»!. S(i5. Surplus, $»j.229; surplus forward, $41,123; additions for year, $3,535; deductions for year, $2,513— total, $4H.:i74. General Balance Sheet, •'»»«• so, 1902.— Capital stork ision shan-si. *:{iMU)<>n: funded debt (1st gold 5s of Oct. 1, 1937), $400,000; accrued taxes, $573; notes payable, $9,181; current liabilities, $17,033; interest accrued, not due, $5,000; profit and loss, $48.374 — total, $780,161. Contra: Cost of road and equipment, $723,752; real estate, $1.536; cash and current assets, $54,873 — total, $780,161. Directors (elected Sept. 9, 1902).— Hugh J. Chisholm, Win. W. Brown, Herbert J. Brown, E. B. Denison, Fred E. Richards, R. C. Bradford, Portland, Me.; Galen C. Moses, Bath, Me.; Waldo Pettengill, George D. Bisbee, Rumford Falls, Me.; Walter E. Plummer, Lisbon Falls, Me. OFFICERS: HUGH J. CHISHOLM, Pres.; R. C. Bradford, Treas. d Clerk, Portland, Me.; Waldo Pettengill, Gen. Mgr., Rumford Falls, Me. GEN- ERAL OFFICE, Portland, Me. RUTLAND RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 8 Controlled Properties 13 Directors and Officers 14 Earnings and Expenses 4 Funded Debt Details 9 General Balance Sheet 7 Guaranteed Bonds 11 History 2 Income Account 4 Interests in Other Companies 2 Leased Lines 13 Mileage Operated 1 New Equipment Bonds 10 Operations & Inc., 1901-1902.. 6 Preferred Stock Preference. £ Profit and Loss Account — 5 Rolling Stock 3 Stocks and Bonds Owned 12 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 397.33 miles). Main Line: White Creek, Vt., to Canada Line, Que 161.40 miles. Lebanon Valley Division: Chatham, N. Y., to North Bennington, Vt 57.30 " Bennington Branch : Bennington to North Bennington, Vt 4.50 " Bellows Falls Division : Rutland to Bellows Falls, Vt 52.53 " Ogdensburg Division: Alburgh, Vt., to Ogdensburg, N. Y 121.60 " B. LEASED LINES (total, 19.00 miles). Addison RR.: Leicester Junction, Vt., to Ticonderoga, N. Y 15.60 " Rutland and Noyan Ry. : Noyan Junction, Que., to State Line, Vt 3.40 " Total length of lines operated, June 30, 1902 416.33 miles. Sidings (owned, 87.03 m.; leased, 1.51 m.), 88.54 miles. Gauge, 4 ft 8y2 in. Rail- iron, 60; steel (owned, 484.36 m.; leased, 20.51 m.), 56 to 80 Ibs. 2. History. — Reorganization, in July, 1867, of the Rutland and Burlington RR. Co. (see MANUAL for 1898, page 24.) The Rutland-Canadian RR. Co. was absorbed in Janu- ary, 1901; the Bennington and Rutland Ry. Co., on July 30, 1901; the Ogdensburg and Lake Champlain Ry. Co., on September 27, 1901, and the Chatham and Lebanon Valley RR. Co., on December 21, 1901. (See MANUAL for 1902, page 33.) During the year ending June 30, 1902. the company acquired the entire capital stock, ($300,000) of the Ogdensburg Terminal Co., thereby securing the control of the terminal property. There are outstanding $140,000 mortgage bonds of the Ogdensburg Terminal Co., interest on which at 4 per cent, has been guaranteed by the Rutland RR. Co. Through Passenger Line to Montreal. — Effective November 3, 1901, arrangements were made under which the passenger trains of this company are run through to Mont- real, over the Quebec Southern Ry. from Noyan Junction to Quebec Southern Junction, and over the Canadian Pacific Ry. from Quebec Southern Junction to Montreal. A trackage arrangement has also been made with the Boston and Maine RR. and the New York Central and Hudson River RR. Co., by which passenger trains of tl.e Rutland RR. may run to Troy and to Albany, thereby opening a through line from those points to Montreal. Interests in Other Companies. — The Rutland RR. Co. operates under lease the Addi- son RR. and the Rutland and Noyan Ry., and controls the Rutland Transit Co., and the Ogdensburg Terminal Co., through ownership of their entire capital stocks. The Rutland RR. Co. also owns the capital stock of the Rutland and Noyan Ry. Co. and 99 per cent, of POOR'S MANUAL OF RAILROADS RUTLAND R.R. CO. 37 the capital stock of the Addison RR. Co. (See separate statements for the companies named, in Section 13.) 3. Rolling Stock, June 30, 1902. — Locomotives, 72. Cars— passenger, 46; com- bination, 12; baggage, mail, and express, 24; milk, 5; freight (box, 1,950; flat, 272; stock, 47; refrigerator, 35; coal, 394; other, 8), 2,706; service, 81 — total, 2,874. (See references to equipment trusts in Sections 10 and 11.) 4. General Income Account, year ending June 30, 1902. Earnings — Passenger $771,90594 Freight 1,229,760 21 Mail and Express 100,79768 Rents and Miscellaneous... 31,91798 Total ($5,126.66 per mile) $2,134,38181 Expenses— Maint. Way and Structures $264,09093 Maintenance of Equipment. 177,36816 Conducting Transportation . 850.543 11 General Expenses 79.28963 Total ($3,293.76 per mile) $1,371,29173 Net earnings, 1901-2 (35.75 p. c.). $763,090.08; other receipts (dividends on stock owned, $78,014; interest on bonds, $58,300; interest on cash loaned, $23,611.78), $159,- 925.78 — total, $923,015.86. Deductions: Interest on funded debt, $491,041.50; on loans, $49,011.80; taxes, $67,548.35; rentals of leased lines (Addison RR., $15,000; Rutland and Noyan RR., $4,000), $19,000; sinking fund, equipment bonds, $33,000; dividends on preferred stock (3 p. c.), $261,728— total, $921,329.65. Surplus, $1,686.21. 5. Profit and Loss Account, June 30, 1902. — Credit: Balance, June 30, 1901, $966,608.12; cancellation of 90 shares of common stock, $8,100; dividend earned and not accrued, $3,262.50; miscellaneous credits, $3,320.54; surplus income for year, $1,686.21 — total, $982,977.37. Debit: New bridges, erected in 1901, $11,410.59; dividend No. 50, July 1, 1901, $95,338; accrued interest and sinking fund, prior to June 30, 1901, $115,- 994.84; miscellaneous debits, $4,131.69; balance at credit, June 30, 1902, $756,102.25 — total $982,977.37. 6. Statement of operations and income for two years ending June 30, 1901, and June 30, 1902, the statistics of the Chatham and Lebanon Valley RR. being included for both years, for purposes of proper comparison. The Rutland-Canadian RR., 41 miles, was not opened for business until January 1, 1901 ; therefore the statistics of that road are included only for 18 months: 1901 1902 1901 1902 Miles Road Operated (average). . . 395.83 416.33 Net Earnings $ 674 389 44 $ 76309008 Other Receipts 9655806 15!» 'I.',) 7> T> T * M"l« no 806682 967390 803.510 625i692 Net Income . . 770 947 50 923,015 86 19,510 187,055 6800020 67,548.35 I s nrm ff\ I1' IKK) <«i Total Fevenue Trr»in Mileage 1,629,702 1,780,137 Interest on Bonds 394,943.27 491,041.50 9163503 49011.80 907,852 1 191,092 3300000 26 760,898 31 924,359 169 564.00 261 728.00 1572050 1,521,956 739,142.50 921,329.65 136 6<>1 403 155 609 376 Balance, Surplus 31,805.00 1,686.21 $ 645 172 29 9 771 905 94 4.883.76 5,126.66 1 168 052 S3 1 229 760 21 Operating Expenses per Mile 3,180.02 3,293.76 Other 11991094 132 715 66 Net Earnings per Mile 1,703.74 1.832.90 65.11 p. c. 64.25 p. c. Gross Earnings 1 933 136.06 2,134,381.81 1 25S 740 O9 1 371 2. Kiinilofl Debt. — The funded debt on June 30, 1902 — total, $11,162,000, as per general balance sheet — consisted of the following : Sl.or.'MOO Rutland RR. 1st 6s of Nov. I, 1902, retired at maturity by issuing in exchange an equal amount of consol. gold 4i-s of July 1, 1941. Rutland RR. 2d mtge. 5 p. c. bonds due and interest ceased on Aug. 1, 1898. On June 30. 1902, there were J.MA) of these bonds in the treas- ury of the Rutland RR. Co., leaving only $100 outstanding $2,1-10,000 Rutland RR. consol. gold of July 1, 1941. The authorized amount is $3,500,000, the unissued bonds belug reserved for the retire- ment of prior liens. On Jan. 1, 1903, the amount outstanding was $3,499,100, the additional $1,059,- 100 having been issued to retire the 1st mtge. bonds matured Nov. 1, 1902. Secured on the line from Bellows Falls to Burlington, Vt., 119.7 miles. $l,:t5O,OOO Rutland-Canadian 1st gold 4s of July 1, 1949. Secured on the line from Burlington to Rou.-e's Point and on the branch from Al- burgh to tbe Canadian Boundary, a total of 41 miles. $5,OOO Bennington and Rutland 1st gold 4}s of Nov. 1. 1927. Secured on the line from Rut- land to Bennington, N. Y., 57.01 miles, and on the branch from North Bennington to White Creek, 1.85 miles. $5OO.OOO Bennington and Rutland Id gold 5s >f March 1, 1920. Tbe bonds are subject to re- demption at par on any interest day after 60 days' notice. Secured on the same property as, but subject in lien to, the first mortgage bonds of 1927. $4,4OO,OOO Ogdcnsburg and Lake Champlain 1st gold 4s of July 1, 1948. The registered bond- holders bad the right to cast one vote for every $100 of their bonds at all meetings of the Ogdens- burg and Lake Champlain Ry. Co., but their status under the consolidation is uncertain. Se- cured on the line from Ogdensburg to Rouse's Point and on branches to Point Airy and to Chateaugay Pulp Mills, a total of 121 miles. $5OO,OOO Chatham and Lebanon Valley 1st gold 4s of July 15, 1951. Secured on the line from Chatham. N. Y., to Bennington, Vt., 56 miles. Endorsed, guaranteed as to principal and interest by the Rutland RR. Co. The entire issue is held in the treasury of the company. #412,000 Equipment 4i p. c. bonds, payable $33,000 yearly. Secured on 600 box freight cars and 250 coal cars. 1O. New Equipment Bond*. — As of the date of April 1,1902, the company issued $1,500,- 000 of 41 p. c. equipment bonds, the proceeds from the sale of which are to be applied to the pur- chase of 34 locomotives, 35 passenger cars, 705 freight cars and 10 service cars. Although the bonds are dated April 1, 1902, they were not taken up in the company's accounts for the year ending June 30, 1902, as final arrangements had not been made at the time the books were closed. They are to be retired in fifteen yearly installments. These are the same bonds referred to in the MANUAL for 1902, page 35, Sec. 12a, but the purchase of less equipment having been decided upon, the amount of the trust has been reduced $1,000,000. 11. Guaranteed Homln. — The company guarantees the $100,000 1st mtge. 4 p. c. gold bonds of the Rutland and Noyan Ry. Co., both as to principal and interest, and guarantees the interest on $140,000 4 p. c. bonds of the Ogdensburg Terminal Co. (See Sec. 2.) 12. Stocks and Honda Owned. — The securities in the treasury of the company on June 30, 1902, consisted of the following: Rutland RR. preferred stock, $103,100, and common stock. $500; Addison RR. stock, $451,000; Rutland Transit stock, $1,000,000; Rutland and Noyan Ry. stock, $100,000 ; Rutland and Noyan Ry. 1st mtge 4 p. c. bonds, $100,000 ; Rutland Transit 1st mtge. 5 p. c. bonds, $601,000 ; Rutland RR. 2d mtge. 5 p. c. bonds, $800 ; Chatham and Lebanon Valley 1st mtge. 4 p. c. bonds, $500,000 ; Ogdensburg Terminal Co., 4 p. c. bonds, $50,000 — total par value, $2,906,400. 13. PROPRIETARY AND LEASED PROPERTIES. ADDISON 11R. — Leicester June., Vt., to Ti- conderoga, N. Y., 15.60 m. ; total track (steel; 60 Ibs.), 17.60 miles. HISTORY. — Chartered in 1870; road opened Dec. 1, 1S7U. Leased to Rutland RR. Co. at a yearly rental of 3 p. c. on the capital stock. FINANCIAL STATEMENT. — Capital stock, $500,000, of whirh the ks.see owns $495,800. CORPORATE OFFICERS. — W. Seward Webb, Pro's., Shelburne, Vt. ; C. J. Morgan, Treas., New York, N. Y. ; F. H. Button, Clerk, Rutland, Vt. Office, Rutland. Vt. (UinKNKIirRG TERMINAL. CO Organ- ized Sept. 27, 1889. The company owns an eleva- tor of 1,000,000 bushels capacity, besides other real estate, docks, machinery, etc., at Ogdensburg, N. Y. There was earned from the property dur- ing the year ending June 30, 1902, after payment of operating expenses, taxes and Interest, a sur- plus of $9,156.22, applicable to a sinking fund for the payment of the company's mortgage debt. FINANCIAL STATEMENT. — Capital stock, $300,000; funded debt (1st 4s dated July 1, 1901, payable $10,000 each 1st of July), $140,000 — total, representing cost of property, $440,000. The Rut- land RR. Co., which owns all the capital stock and $50,000 of the bonds, guarantees the interest on tbe funded debt. CORPORATE OFFICERS.— Perctval W. Clem- ent. Pres. : O. F. Harrison, Sec. and Treas., Rut- land. Vt. Office, Rutland, Vt. RUTLAND AND NOYAN RY. — Noyan Junc- tion, Que., to Vermont State Line, 3.44 miles. Rail (steel). 80 Ibs. HISTORY. — Chartered July 10, 1899; road opened Jan. 1, 1900. Leased to the Rutland RR. Co., Feb. 15, 1901. FINANCIAL STATEMENT.— Capital stock, $100,000; funded debt (1st gold 4s of Jan. 1, 1951), $100,000 — total, $200,000. The Rutland RR. Co. owns both the stock and the bonds. The bonds are guaranteed, both as to principal and interest, by the Rutland RR. Co. CORPORATE OFFICERS. — Frederick H. But- ton, Pres. ; A. G. Adams, Sec., Rutland, Vt. ; Clarence Morgan, Treas., New York, N. Y. Office, Rutland, Vt RUTLAND TRANSIT CO Reorganization In 1899 of the Ogdensburg Transit Co. (See Man- ual for 1900, page 1119.) The company owns 8 steamships operating between Ogdensburg and the western ports on the Great Lakes, and owns wharf and warehouse property in Chicago, lo- cated on the Chicago River, and in Ogdensburg, N. Y. Owned and operated by the Rutland RR. Co., and no separate accounts published. FINANCIAL STATEMENT. — Capital stock, $1,000,000 ; funded debt (1st gold 5s of Jan. 1, 1920), $646,000 — total, $1,646,000. The Rutland RR. Co. owns both the stock and the bonds. The author- ized issue of the latter is $1,000,000. Interest i- payable at the National Shawmut Bank, Boston, Mass. CORPORATE OFFICERS.— W. Seward Webb, Pres., Shelburne, Vt. ; Clarence Morgan, Treas., New York, N. Y. ; A. G. Adams, Clerk, Rutland, Vt. Office, Rutland, Vt. POOR'S MANUAL OF RAILROADS. 39 14. Board of Directors, Rutland RR. Co., Elected October 29, 1902. W. Seward Webb.Shelburne.Vt. E.V.W.Rossiter.New York, N.Y. S. R. Galloway. C. M. Depew. . . Geo. T. Jarvls Rutland, Vt. George H. Ball. . .Boston, Mass. James Lawrence. .Groton, Mass. J. W. Stewart.. Mlddlebury, Vt. P. W. Clement Rutland, Vt. H. H. Powers... Morrlsvllle, Vt. F. D. Proctor Proctor, Vt. E. F. Gebhardt...Shelburne, Vt A. C. Spaulding Burlington, Vt. WM. SEWABD WEBB, President Shelburne, Vt. Vice-Pres. — Geo. T. Jarvls Rutland, Vt. I Secretary — A. G. Adams... Rutland Vt Treasurer — Clarence Morgan New York, N. Y. | Auditor— M. H. Chamberlin Rutland,' Vt'. PRINCIPAL OFFICE AND ADDRESS Rutland, Vt. ST. JOHNSBTJBY AND LAKE CHAMPLAIN RAILROAD COMPANY. 1. Main Line of Road.— Lunenberg, Vt., to Maquam Bay, Vt.. 120.00m. Victory Branch: North Concord, Vt., to East Haven Vt 11.50m. — 131.50 miles. Sidings, etc., 22.74 miles. Gauge, 4 ft. 8y2 in. Rail (steel, 151 m.), 65 to 75 Ibs. 2. History.— Reorganization, Jan. 31, 1880, of the Vermont Division of the Portland and Ogdensburg RR. Co. (See Manual for 1891, page 489). 3. Rolling Stock, June 30, 1902. — Locomotives, 4. Cars — passenger, 3; baggage, etc., 1; freight (box, 103; flat, 45; stock, 3), 151; service, 14— total 169. 4. Operations, year ending June 30,1902. — Train mileage — passenger, 138,264; freight, 188,994; mixed, 30,416; other, 101,969— total, 459,643 miles. Passengers car- ried, 168,764; carried one mile, 3,291,235; average mile rate, 2.501 cents. Tons freight moved, 329,638; moved one mile, 17,317,843; average ton-mile rate, 1.214 cents. EARNINGS. 1900-01 Passenger $77,025 16 Freight 208,180 48 Mail and Express 16,72558 Miscellaneous 3,612 81 1901-02 $82,309 40 210,202 29 17,008 35 2,702 68 Totals $305,544 03 Averages per mile 2,323 50 $312,222 72 2,374 31 EXPENSES. 1900-01 1901-02 Maint. Way and Structures.$101.796 94 $84,733 76 Maintenance of Equipment. 12,280 95 10,224 60 Maint. Way and Buildings. 174,680 70 170,146 59 General 9,46060 10,29556 Totals $298,21919 $275,40051 Averages per mile 2,26783 2,09430 Net earnings, 1901-2, $36,822.21 ; other income, $3,687.43— total, $40,509.64. Charges: Interest on bonds (5 p. c. on $1,328,000, guaranteed by Boston and Maine RR.), 566,400; other interest, $10,990.50; taxes, $7,945.55— total, $85,342.05. Deficit for year, $44,832.41 ; deficit forward, $1,383,299.32— total, $1,428,131.73. 5. Statement of income, etc., for eight fiscal years ending June 30: Years. RR. Pass. Oper- Earn- ated. ings. M. $ 1895 131.50 69,214 1896 131.50 74,439 1897 131.50 66,536 1898 131.50 68,742 1899 131.50 71,674 1900 131.50 76,978 1901 131.50 77.025 1902 131.50 82,309 Freight Other Total Operat- Net Gross Gross Net Exp. to Earn- ings. Earn- ings. Earn- ings. ing Ex. penses. Earn- ings. Interest Charges. Earn, p. Mile. Exp. p. Mile. Earn, p. Mile. Earn- ings. $ $ $ $ $ $ $ $ $ p.c. 270,412 16,563 356,189 343,040 13,149 66,400 2,708.66 2,608.67 98.48 96.31 269,828 13,457 357,724 367,525 d. 9,801 66,400 2,720.31 2,794.96 d. 74.65 102.74 269,946 17,163 353,645 389 987 d. 36,342 66,400 2,689.32 2.965.68 d.276.36 1 10.27 2X0,039 17,829 366,610 391,'993 ratlon owna $740,000 and the Boston an Islne Railroad $432.000 of these bond* ; tho remaining $1,328.000 are held by the public and ar guaranteed both a. to principal and Interest, by the Boston and Maine Railroad. No charge Is made In the account* (or Interest accrued on the bond* bold In the treasury of the B. & M. RR. ($1 172.000 as above), but the overdue coupons are a lien against the property. '» Director! (elected Sept. 11, 1902).— C. S. Page, Hyde Park, Vt.; Harry Blodgett, Charles 1L Stevens, 11. N. Turner, St Johnsbury, Vt; H. E. Folsom, Lyndonville, Vt.; George W. Hcndee, Morrisrille, Vt; 8. C. Lawrence, Medford, Mass; Henry R. Reed, Lucius Tuttle. Boston, Mass. II. K. FULSOM, President d Superintendent Lyndonville, Vt H. N. Turner, Vice-Pre*id*nt tec. 4 Treat.— Geo. W. Cree..8t. Johnsbury. Vt G«n. Auditor— Wm. J. Hobba Boston, Mas*. PRINCIPAL Ofnci AIH> ADDRESS Boston, Mass. KB.— Tllden Bridge to Ayer St.. In Barre, Vt, 2 m. (leased to Montpeller and Wells River RR. Co.) ; Ayor St. Barre. Vt. to Mill Stone Hlii and sundry spurs to granite quarries, 25 m.— total. '27 miles. Gauge, 4 ft. 81 In. Rail (steel), 56 and 60 Ibs. Organized In Vermont, April ». 1888 ; road opened In 1889. Locomotives. 3. Cars — passenger, 4 ; baggage, 2 ; freight, 66 — tolal. 71. Operations, year ending June 30. 1902. — Earnings (passenger, $1.559; freight, $61,764; other. $4.278). $67.591. Operating expenses, $33,423. Net earnings, $34,168. Total deductions, $11.618. Surplus. $22.650. General Balance Sheet. June 30, 1901 (iatest rendered).— Capital stock paid In ($80,000 auth. ; $100 shares). $76,310; loans and bills payable, $181.975; profit and loss, $106.347 — total. •.02. Contra: Cost of road and equipment. $329,936; real estate, $16,275; materials, etc., $3.874 : cash and current assets, $13,577 — total. $363,662. In May, 1902, the stockholders voted to Increase the capital stock to $400,000. Directors. — A. D. Morse (Chairman), 12. L. Smith, John Trow, Barre, Vt ; W. A. Stowell, r. W. Stanyan. Montpeller. Vt OFFICERS : A. D. MOUSE, Pres. ; W. A. Stowell. Vice-Proa. t 1. 19O2; $2.200 2d 6s of March 1. 1904; $122,500 consol. gold 4s of June 1. 1»28 : and $17,OOO 2d consol. 4s of June, 1928. Since June 30, 1902. the two Issues of d and $12.600 of 1st consol. 4s have been issued. Director* (elected Nov. 19. 1902). — Wm. F. Perry. Samuel S. Fuller. J. A. Bennett, Horace i. Hall. Brldgton. Me. ; Almon Young, Hiram. Me. OFFICERS: WILLIAM P. PERRY, Pres.; P. P. Horn ham. Treat. ; J. A. Bennett. Sec. d Oen. Mgr., Brldgton, Me. GENERAL OFFICE, Bridgton, Me. BRISTOL RJB. — Brlntol to New Haven June., Vt, 6 m. ; total track (steel; 56 and 60 Ibs.). 6.99 mile*. Gauge, 4 ft. 81 In. Chartered, 1882 ; opened Jan. 5, 1892. Locomotive 1. Cars — combination. 1 ; box. 1 — total, 2. POOR'S MANUAL OF RAILROADS. 41 Operations> year ending June 30, 1902. — Earnings (passenger, $5,590; freight, $6,458; other, $2,997), $15,045. Operating expenses, $10,033. Net earnings, $5,012. Deduct interest on bonds, $4,000. Surplus, $1,012. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock paid In ($100 shares), $100,000; funded debt (1st 4s of July 1, 1921), $100,000; current liabilities, $2,704; profit and loss, $5,772 — total, $210,477. Contra : Cost of road and equipment, $201,248 ; cash and current assets, $9,295 — total, $216,316. Directors. — P. W. Clement, H. G. Smith, Rutland, Vt. ; E. B. Patterson, Ralph Denio, C. P. Bush, Bristol, Vt. ; W. N. Gove, Lincoln, Vt. ; Waldo P. Clement, New York, N. Y. OFFICERS : P. W. CLEMENT, Pres. Rutland, Vt ; Ralph Denio, Treas. & Supt., Bristol, Vt. GENERAL OFFICE, Bristol, Vt. CAPE ANN GRANITE RR. — Gloucester to Pigeon Cove Harbor, Rockport, Mass., 1.44 m. ; total track (steel; 60 Ibs.), 2.22 miles. Gauge, 4 ft. 8i In. Chartered Sept. 26, 1894; road opened July 1, 1895. Owned by the Cape Ann Granite Co., and operated as a branch of that company's business. Locomotive, 1. Cars (flat), 15. Operations, year ending June 30, 1902. — Trains run (freight), 1,958 miles. Tons freight moved, 32,665; ton-miles, 46,906. Earnings (freight), $7,027. Operating expenses, $5,997. Net earnings, $1,030. Payments : Interest on debt, $1,973 ; taxes, $422 — total, $2,395. Deficit, $1,365 ; surplus forward, $849 ; net deficit, $516. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $20,000; loans and notes payable, $12,882; current* liabilities, $519 — total, $33,397. Contra: Cost of road and equipment, $32,881 ; cash and current assets, $516 — total, $33,397. Directors. — Jonas H. French, Gloucester, Mass. ; William H. Pearson, Boston, Mass. ; Ed- ward O. Merrill, Maiden, Mass. OFFICERS : JONAS H. FRENCH, Pres., Treas. d- Gen. Mgr., Boston, Mass. ; Winfred T. Ritcey, Sec., Winchester, Mass. GENERAL OFFICE, 40 Water St., Boston, Mass. CLARENDON AND PITTSFORD RR.— Pittsford to West Rutland, Vt., 14.5 m. ; Pitts- ford and Rutland RR. (leased), 1.78 in. ; total track (steel; 60 and 70 Ibs.), 17.78 miles. Gauge, 4 ft 84 in. Chartered, Sept. 10, 1885 ; road opened July, 1886. Locomotives, 5. Cars — passenger. 2; freight (flat), 132; service, 40 — total, 174. Operations, year ending June 30, 1902. — Tons freight moved, 123,765 ; ton-miles, 569,532. Earnings (passenger, $50; freight, $47,456), $47,506. Operating expenses, $34,801. Net earnings, $12,705. Payments: Interest on bonds, $770; taxes, $1,005 — total, $1,775. Surplus, $10,930; surplus forward, $43,553 — total, $54,483. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $120,000; current liabilities, $76,281 ; profit and loss, $54,483 — total, $250,764. Contra : Cost of road and equipment, $250,394 ; cash and current assets, $370 — total, $250,764. RAILROAD LEASED BY THE C. & P. RY. Co. Pittsford and Rutland RR. — Rutland to Rutland, Vt., 1.78 m. ; total track (steel; 72 Ibs.), 2.30 miles. Organized May 26, 1890, and road built in same year. Leased $30,000. Edmund R. Morse, Pres., Proctor, Vt. ; Kdw. D. Bennett, Vice-Pres., Bennington, Vt. ; H. A. Harman, Sec. & Treas., Rutland, Vt. OflBce. Rutland, Vt. July 2, 1890, to the C. & P. Ry. Co. Capital stock, Directors (C. & P. RR. Co.). — F. D. Proctor, F. C. Partridge, Redfleld Proctor, W. R. Page, S. A. Howard, E. R. Morse, Proctor, Vt. : C. J. Smith, Boston, Mass. OFFICERS : FLETCHER D. PROCTOR, Pres.; Redfield Proctor, Vice-Pres.; E. R. Morse, Treas.; F. C. Partridge, Sec. & Oen. Counsel, Proctor, Vt. ; Geo. C. Robinson, Gen. Supt., West Rutland, Vt. GENERAL OFFICE, Proctor, Vt. FRANKLIN AND MEGANTIC RY. —Strong to Kingfleld, Me., 15 m. ; Mt. Abram June, to Mt. Abram, Me., 1.7 m. ; Kingfield and Dead River RR. (see appended statement), 16 m. — total, 32.7 miles. Rail — iron, 40 Ibs., rteel (31 miles), 25 and 35 Ibs. Gauge, 2 ft. Organized June 3, 1897, by the 1st mtge. bondholders of the F. & M. RR. Co., and took possession of the property on Aug. 16, 1897. (See MANUAL for 1898, page 20.) Locomotives, 2. Cars — combination, 1; baggage, etc., 1; freight (box, 6; flat, 37), 43 — total cars, 45. Operations, year ending June 30, 1902. — Trains run (passenger, 28,188; freight, 9,129; mixed, 13,837; other, 9,457), 60,611 miles. Passengers carried, 13,802; carried one mile, 221,653. Tons freight moved, 27,577; ton-miles, 580.493. Earnings (passenger, $9,391; freight, $23,470; other, $2,984), $35,845. Operating expenses, $35.179. Net earnings, $666; other receipts, $76 — total, $742. Payments: Interest on bonds, $1,200; other interest, $162; taxes, $192; rentals, $1,600 — total, $3,154. Deficit, $2,412 ; deficit forward, $10,772 — total, $13,184. General Balance Sheet. June itO, 1902. — Capital stock ($100 shares), $87,500; funded debt (1st 5s of April 1, 1911; $50,000 auth.), $24,000; current liabilities, $9,060; Interest accrued, $777 — total, $121,337. Contra: Cost of road and equipment, $99,077; other assets, $3,177 ;" mate- rials, etc., $854 ; cash and current assets, $5,045 ; profit and loss, $13,184 — total, $121,337. RAILROAD OPERATED BY THE F. & M. RY. Co. Klnsfleld and Dead River RR Kingfield to Bigelow, Me., 16 miles. Rail (Pteel), 35 Ibs. Chartered June 19, 1893; road opened Aug. 1, 1894. Extended to Bigelow, 6 m., in 1899. Sold under foreclosure on Aug. 2, 1898, and purchased by Josiah S. Maxcy. Operated by the Franklin and Megantlc Ry. Co. (See Manual for 1898, page 20.) Directors (F. & M. Ry. Co.) — Josiah S. Maxcy (Chairman), Philip H. Winslow, Geo. A. Far- rlngton, Gardiner, Me. OFFICERS : JOSIAH S. MAXCY, Pres. ; Geo. A. Farrington, Treas. ; P. H. Win- slow, Aud., Gardiner, Me. ; L. C. Cornish, Sec., Augusta, Me. GENERAL OFFICE, Gardiner, Me. GEORGE'S VALLEY RR.— Warren to Union, Me., 8 m. ; branch to Lime Kiln, 0.5 m. — total, .8.5 miles. Gauge, 4 ft. 81 in. Rail (steel), 56 Ibs. Organized Aug. 10, 1889; road opened In Dec., 1893. Locomotive, 1. Cars — combination, 1; freight (flat, 3; box, 2), 5 — total, 6. Operations, year ending June 30, 1902. — Trains run (mixed), 10,016 miles. Earnings (pas- senger, $1,685; freight, $10,032; other, $823), $12,540. Operating expenses, $10.258. Net earn- ings, $2,282. Payments : Interest on bonds, $3,000 ; other interest, $58 ; taxes, $161 — total, $3,219. Deficit, $937. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $100,000; funded debt (1st 6s of 1913), $50,000; profit and loss, $937 — total, $150,937. Contra: Cost of road and equipment, $85,154 ; other investments. $64,840 ; profit and loss, $937 — total. $150,937. Directors. — James Mitchell, West Newton, Mass. ; Wm. W. Case, Wm. T. Cobb. A. P. Crockett, 42 POOR'S MANUAL OP RAILROADS — NEW ENGLAND GROUP. 8. M. Bird. A. L. Jones. I. C. Thurston, Rockland, Me. OFFICERS : JAMBS MITCHELL, Pres. d Oen. Mffr.; W. 8. Mitchell. Sec. d Treat., Union. Me. GKNKRAL OFFICE, Union. Me. GBAFTON AND UPTON BB.— North Grafton to Mllford, Mass.. 16.50 m. ; total track (60-lb. steel rail). 20.25 miles. Gauge. 4 ft. 84 in. Successor, Feb.. 1888. to the Grafton Centra RR. Co. Extension to Milford opened May 17. 1S90. (See MANUAL (or 1891, page 223.) Locomo- tives. 4. Care — passenger, 4; baggage, etc., 2; freight (flat), 1 — total, 7. Operations, year ending June 30, 1902. — Trains run (passenger, 38,600; freight, 13,770; mixed, 1,812; other. 10.140). 64,322 miles. Passengers carried, 61.180; carried one mile, 611,800. Tons freight moved. 60,037; ton-miles, 640.333. Earnings (passenger, $19,961; freight. $28,602). $48.563. Operating expenses, $41,010. Net earnings. $7,553; other receipts, $119 — total, $7,672. Payments : Interest on bonds, $10,900 ; taxes, $543 — total, $11,443. Deficit, $3,771 ; surplus for- ward, $12,436: net surplus, $8,665. General Balance Sheet, June 30, 1902. — Capital stock ($100 snares), $250,000; funded debt, $263,000; profit and loss, $8,665— total, $526,665. Contra: Cost of road and equipment, $618.000 ; profit and loss, $8,665 — total, $526,665. Funded Debt.— The funded debt outstanding on June 30, 1902 (total, $268,000). consisted of $250,000 1st gold 4s of Nov. 1, 1912, and $18.000 ($50,000 auth.) 2d 5s of July 1, 1913. Directors (elected Nov. 3, 1902). — George A. Draper, Eben D. Bancroft, Frank J. Dutcher, Hopedale, Mass.; George W. Knowlton, West Upton, Mass.; Edward P. Usher, Grafton. Mass. OFFICERS : EDWARD P. USHER, Pres., Treas. d Sec., Grafton Mass. ; George A. Draper, Vice-Pres., Hopedale. Mass. GENERAL OFFICE, Orafton, Mass. HARD WICK AND WOODBUBY BB. — Buffalo Road to Woodbury Quarry, Vt. 7 m. ; Holton Summit to Fletcher Quarries, Vt., 0.75 m. — total. 7.75 m. ; total track (steel ; 66 Ibs.), 9.50 miles. Gauge, 4 ft. 8 J in. Chartered March 16, 1895 ; road opened in July, 1896. The company leases 1.75 miles of the St. Johnsbury and Lake Champlain RR., from Granite Junction to Buffalo Road, making the total length of line operated, 9.5 miles. Locomotives, 2. Cars (flat), 2. Operations, year ending Juno 30. 1902. — Trains run (mixed), 10.116 miles. Passengers car- ried, 570; carried one mile, 8,791. Tons freight moved, 36,360; ton-miles, 330,420. Earnings (passenger, $140; freight, $14,122), $14,262. Operating expenses, $12,977. Net earnings, $1,285; other receipts, $1,036 — total, $2,321. Payments : Interest on debt, $960 ; taxes, $313 — total, $1,273. Surplus. $1,048 ; deficit forward, $1,248 ; net deficit, $200. General Balance Sheet, June i'.O, 1902. — Capital stock paid In ($50,000 auth. ; $25 shares), $48,675 ; bills payable, $16,000 ; current liabilities, $1,143 — total, $65,818. Contra : Cost of road and equipment, $64,190 ; materials, etc., $415 ; cash and current assets, $1,013 ; profit and loss, $200— total, $65,818. Directors (elected Aug. 12, 1902). — W. H. Fullerton, Manchester, Vt. ; E. H. Blossom, Geo. M. Powers, Morrlsville, Vt. ; Chas. W. Leonard, Boston, Mass. ; John S. Holden, Bennington, Vt. ; A. S. Richardson, St. Albans, Vt. ; E. R. Fletcher, Hardwick, Vt. OFFICERS : JOHN S. HOLDEN, Pres., Bennington, Vt. ; Geo. M. Powers, Vice-Pres., Morrisville, Vt. ; Geo. H. Bickford, Treas.; J. V. Dut- ton, Sec., Hardwick, Vt. ; E. H. Blossom. Gen. Mgr., Morrlsville, Vt. GENERAL OFFICE, Hardwick, Vt. HOOSAO TUNNEL AND WILMINGTON BB.— Hoosac Tunnel, Mass., to Wilmington. Vt., 25 m. ; total track (steel; 30, 56, and 60 Ibs.), 28 miles. Gauge, 3 ft. Consolidation, Jan. 1, 1892, of the Hoosac Tunnel and Wilmington RR. Co. and the Deerfleld Valley RR. Co. (See MANUAL for 1892, page 269.) Locomotives, 6. Cars — passenger, 6, freight (box, 53; coal, 17; flat, 45). 115; service. 6 — total, 127. Operations, year ending June 30, 1902. — Trains run (passenger, 28,285; freight, 13,929; mixed, 2,530), 44,744 miles. Passengers carried, 28,814; carried one mile, 338,716. Tons freight moved, 49,550; ton-miles, 783,916. Earnings (passenger, $11,736; freight, $49,361; other, $2,927), $64,024. Operating expenses, $51,347. Net earnings, $12,677; other receipts, $715 — total, $13,392. Payments: Interest on bonds, $12,500; taxes, $657; dividends (2 p. c.), $5,000 — total. $18,157 Deficit, $4,765; surplus forward, $12.016; net surplus, $7,251. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $250.000; funded debt (1st 5s of Sept. 1, 1922), $250,000; current liabilities, $29,026; interest accrued, $4,167; profit and loss, $7,251 — total, $540,444. Contra: Cost of road and equipment, $495,554; materials, etc., $1,184 ; cash and current assets, $43,706— total, $540,444. Directors (elected Oct 29, 1902). — Daniel H. Newton, James Ramage, James H. Newton, Moses Newton, Holyoke. Mass.; J. S. Pishon, Boston. Mass. OFFICERS: DANIEL H. NEWTON, Pres.; James Ramage, Vice-Pres. ; James S. Newton, Sec., Holyoke, Mass. ; Martin A. Brown, Treas., Wil- mington, Vt. GENERAL OFFICE, Wilmington, Vt KENNEBEC CENTRAL BB. — Randolph to Togus, Me., 6 miles. Gauge, 2 ft. Rail (steel), 25 Ibs. Chartered Oct. 3, 1889; road opened July 1, 1890. Locomotives, 2. Cars — passen- ger, 4; baggage, 1; freight (box, 2; flat, 6), 8 — total, 13. Operations, year ending June 20, 1902. — Trains run (passenger, 21,002; mixed, 985; other. 982). 22,969 miles. Passengers carried, 68,698; carried one mile, 289,719. Tons freight moved, 6.274; ton-miles, 31,370. Earnings (passenger, $5,798: freight, $8,886; other, $659). $15,343. Operating expenses, $10,502. Net earnings. $4,841; other receipts, $233 — total, $5,074. Payments: Interest on bonds, $1,500; taxes, $345; dividends (6 p. c.), $2,400 — total, $4,245. Surplus, $829; surplus forward, $13.243 — total, $14,072. General Balance Sheet, June 30, 1902. — Capital stock paid In ($50,000 auth.; $100 shares). $41,250; funded debt (1st 6s of Nov. 15. 1910), $30,000; current liabilities, $1,080; in- terest accrued, $148 ; profit and loss, $14,072 — total, $86,650. Contra : Cost of road and equipment, $81.579; materials, etc., $275; cash and current assets, $4,696 — total, $86,650. Directors. — Weston Lewis, A. C Stilphen. J. 8. Maxcy. F. S. Thome. J. C. Atkins, Gardiner, Me. OFFICERS: WESTON LEWIS, Pre.s. d Gen. Mgr.; P. H. WinMow, Treas.; H. S. Webster, Sec.; A. C. Stilphen, Aud., Gardiner, Me. GENERAL OFFICE, Gardiner, Me. LIME BOCK BB. — In and around the city of Rockland, Me., 11.30 m. ; trackage, 1.27 m. — total. 12.67 miles. Rail (steel, 8.12 m.), 66 Iba. Gauge, 4 ft. 81 in. Organized in 1864; charter amended in 1873. 1887. and 1889. Locomotives, 3. Freight cars (flat, 12; dump, 401), 413; caboose, 1 — total, 414. Operations, year ending June HO, 1902. — Tons freight moved, 141.875. Earnings, freight, 162,027. Operating expenses, $21,734. Net earnings. $40,293. Payments: Interest on bonds, $16,000; taxes, $2,724; dividends (4 p. c.), $13,000; other charges, $128 — total, $36,852. Surplus, $3,441 ; surplus forward. $26.904— total. $30,345. General Balance Sheet, June 30, 1902. — Capital stock paid in ($450.000 issued and out- standing; $100 shares), $48,000; funded debt (consol. refdg. 4s of July 1, 1929; $425,000 auth.), POOR'S MANUAL OF RAILROADS. 43 $400,000; current liabilities, $2,296; surplus fund, $72,199; profit and loss, $30,345 — total, $552,840. Contra : Cost of road and equipment, $508,532 ; real estate, $35,625 ; materials, etc.. $4,096; cash and current assets, $4,C>87 —total, $552,840. Directors (elected Jan. 28, 1902). — Fred E. Richards, Portland, Me.; Robert Winsor, Alfred Wlnsor, Boston, Mass. ; Henry H. Skinner, Springfield, Mass. ; Herbert L. Shepherd, Rockport, Me. • A. F. Crockett, W. T. Cobb, Rockland, Me. OFFICERS : FRED E. RICHARDS, Pres. ; Stephen C. Perry, Sec., Portland, Me. ; Joseph Remirk. Treas., Boston, Ma^s. ; George P. White, Gen. Supt., Rockland, Me. GENERAL OBFICE, Rockland, Me. MONSON RE,. — Monson June, to Monsoii. Me., 6.10 m. ; Monson to Slate Quarries, 2 m. — total, 8.16 m. ; total track (steel; 30 Ibs.), 9.16 miles. Gauge, 2 ft. Chartered Nov. 1, 1882; road opened Oct. 22, 1883. Locomotives, 2. Cars — combination, 1; freight (box, 8; flat, 8; coal, 2), 18 — total, 19. Operations, year ending June r>0, 1902. — Trains run (mixed), 13,480 miles. Passengers carried, 4,111; carried one mile, 27,171. Tons freight moved, 9,404; ton-miles, 57,920. Earnings (passenger, $1,360; freight, $4,539; other, $577), $6,476; other income, $29 — total, $6,505. De- ductions: Operating expenses, $7,611; interest on bonds, $4,200; other interest, $180; taxes, $66 — total, $12,057. Deficit, $5,552; deficit forward ($144,679; less, deductions for year, $313), $144,366 — total, $149,918. Qeneral Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $70,000; funded debt (1st 6s of April 1, 1904), $70,000; current liabilities, $13,887; interest unpaid, $74,492 — total, $228,379. Contra: Cost of road and equipment, $78,461 ; profit and loss, $149,918 — total, $228,379. Directors (elected June 7, 1903). — George O. Whiting, Lexington, Mass.; Isaac S. Whiting, George Whiting, Boston, Mass. ; W. L. Estabrooke, J. F. Sprague, H. E. Merrill, A. W. Chapin, Monson, Me. OFFICERS : GEORGE O. WHITING, Pres., Lexington, Mass. ; Isaac S. Whiting, Vice- Pres., Treas. & Gen. Mgr., Boston, Mass. ; J. F. Sprague, Sec., Monson, Me. GENERAL OFFICE, Monson, Me. MONTPELIER AND WELLS RIVER RR.— Montpelier to Wells River, Vt, 38.20 m. ; leased, Barre Branch RR. (see appended :>taternent), 3.8 m., and Barre RR. (in Barre, Vt.), 1.62 m. — total, 43.62 m. ; total track (steel; 56 and 00 Ibs.), 47.03 miles. Gauge. 4ft. 81 In. Reorgani- zation, Jan. 1, 1877, of a company of tho same name (see MANUAL for 1893, page 417). Locomo- tives, 7. Cars — passenger, 7; baggage, etc., 3; freight (box, 11; stock, 3; flat, 45; coal, 2; refrigerator, 6), 67; service, 40 — total, 117. Operations, year ending June 30, 1902. — Trains run ( passenger, 73,290 ; freight, 22,900 ; mixed, 23,788), 119,978 miles. Passengers carried, 128,511; carried one mile, 2,290,416. Tons freight moved, 179,467; ton-miles, 4,225,751. Earnings (passenger, $49,740; freight, $103,707; other, $8,099), $161,546. Operating expenses, $129,901. Net earnings, $31,645; rents, $2,649; Interest, etc., $8,078 — total, $42,372. Payments : Taxe^, $4,386 ; rental Barre Branch RR., $4,800 — total, $9,186. Surplus, $33,186 ; surplus forward, $204,020 — total, $237,206. Deduct for im- provements and addition to property during year, $7,332. Surplus. June 30, 1902, $229,874. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $800,000; current liabilities, $18,459 ; accrued taxes and rents, $2,301 ; other liabilities, $780 ; profit and loss, $229,874 — total, $1,051,414. Contra : Cost of road and equipment, $800,000 ; bills receivable, $176,001 ; materials, etc., $30,086 ; cash and current assets, $43,964 — other assets, $1,363 — total, $1,051,414. RAILROAD LEASED BY THE M. & W. R. RR. Co. RR. Co., at an annual rental of 6 p. c. on $80. 000 capital stock. W. A. Stowell, Pres. ; F. V Morse, Sec. & Treas. Office, Montpelier, Vt. Barre Branch RR. — Barre Transfer to Barre, 3.8 miles. Rail (steel), 60 Ibs. Organized in 1888 ; road opened June 1, 1889, and leased for 99 years to the Montpelier and Wells River Directors, M. & W. R. RR. (elected Aug. 28, 1902). — A. F. Sortwell, Cambridge, Mass.; Geo. E. Carter, Boston, Mass. ; J. W. Brock, Joel Foster, W. A. Stowell, Montpelier, Vt. OFFICERS : ALVIN F. SORTWBLL, Pres. ; Geo. E. Carter, Vice-Pres., Boston, Mass. ; Joel Foster, Clerk & Treas. ; A. W. Prescott, And., Montpelier, Vt. GENEEAL OFFICE, Montpelier, Vt. MOSHASSUCK VALLEY RR. — Woodlawn June, to Saylesville, R. I., 2 m. ; total track (steel; 56 and 70 Ibs.), 3 miles. Gauge, 4 ft. 8i in. Chartered June 11, 1874; road opened Jan. 5, 1877. Locomotives, 2. Cars — passenger, 1 ; freight (box, 3 ; coal, 4), 7 ; steam motor, 1 — total, 9. Operations, year ending June 30, 1902. — Trains run (passenger, 14,976; freight, 6,260; other, 10,000), 31,236 miles. Passengers carried, 41,898; carried one mile, 83,796. Tons freight moved, 128,176; ton-miles, 256,352. Earnings (passenger, $1,398; freight, $34,395; other, $17,521), $53,314. Operating expenses, $49,249. Net earnings, $4,065. Deduct taxes, $491 ; other, $600 — total, $1,091. Surplus, $2,974; surplus forward, $45,999 — total, $48,973. Qeneral Balance Sheet, Juue 30, 1902. — Capital stock paid in ($200,000 auth. ; $100 shares), $50,000; current liabilities, $43,385; interest taxes, $491; other liabilities, $427; profit and loss, $48,973 — total, $143,276. Contra : Cost of road and equipment, $95,762 ; lands owned, $5,442 ; materials, etc., $3,680 ; cash and current assets, $38,392 — total, $143,276. Directors. — Frank A. Sayles, Chas. O. Read, Maurice K. Washburn, J. R. MacCoIl, K. F. Wood, Saylesville, R. I. OFFICERS: FRANK A. SAYLES, Pres.; Chas. O. Read, Sec. d Treas.; A. H. Aldrich, Supt., Saylesville, R. I. GENERAL OFFICE, Saylesville, R. I. MT. WASHINGTON RY.— Base to Summit of Mt. Washington. N. H., 3.33 miles. Gauge. 6 ft. 3 in. Rail (steel), 50 Ibs. Chartered In 185S ; road opened July. 1869. Operated June to Oct.. yearly. Locomotives, 7. Cars — passenger, 5; baggage, 1; freight (flat), 2 — total, 8. Operations, year ending June 30. 1902 — Passengers carried, 5,673 ; carried one mile, 37,779. Earnings (passenger, $17,369; other, $150), $17,519. Operating expenses. $12,026. Net earnings, $5,493 ; other receipts. $5,775 — total, $11,268. Payments : Interest on debt, $285 ; taxes, $2,556 ; dividends (3 p. c.), $6,345 — total, $9,186. Surplus, $2,082; surplus forward, $396 — total, $2,478. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $211,500; current liabilities, $4,000; profit and loss, $2,478 — total, $217,978. Contra: Cost of road and equipment, $135,000 ; real estate, $82,000 ; cash and current assets, $978 — total. $217,978. Directors (elected May, 1902). — T. A. Mackinnon, G. A. Fernald, Boston, Mass.; Nathaniel White, Jr., John M. Mitchell, Ben]. A. Kimball, Frank E. Brown, Concord, N. H. ; J. W. Sanborn. Sanbornville, N. H. OFFICERS : T. A. MACKINNON, Pres. £ Gen. Mgr., Boston, Mass. ; BenJ. A. Kim- ball, Vice-Pros.; John F. Webster, Treas.; F. E. Brown, Sec., Concord, N. H. GENERAL OFFICE, Concord, N. H. 44 POOR'S MANUAL OF RAILROADS — NEW ENGLAND GROUP. NANTUCKET CENTRAL BB. — Nantucket to Siasconset. Mass.. 8.5 m. ; total track, 8.7 miles. Gauge. 3 ft. Hall (steel. 7.5 m.). 30 and 35 Ibs. Successor, after foreclosure sale, to the Nantucket RR. Co. (See MANUAL for 1897. page 21.) Locomotive, 1. Cars — passenger, 3; baggage, etc., 1; freight (flat), 3; gravel, 1. ^Operations, year ending June 30, 1902. — Trains run (passenger), 6,500 miles. Passengers carried, 14,392; carried one mile, 122,332. Earnings (passenger, $4,554; other, $868), $5,422. Operating expenses, $4,444. Net earnings, $978. Payments : Interest on bonds, $1,020 ; tuxes, $28 — total, $1,048. Deficit, $70 ; deficit forward. $1,830 — total. $1,900. General Balance Sheet, June 30. 1902. — Capital stock ($100 shares), $18,000; funded debt (1st 6s of Feb. 1, 1906. int. F. & A.), $17.000; interest coupons matured, not paid (includ- ing coupons due July 1), $1,900 — total, $36,900. Contra: Cost of road and equipment, $35,000; profit and loss, $1.900 — total. $36.900. Directors. — Byron B. Johnson, D. L. Weeks, Henry S. Milton, George R. Taber, Waltham, Mass.; BenJ. W. Gilbert, Newton, Mass. OFFICERS: HENRY S. MILTON, Prea.; D. L. Weeks, Treoa., Clerk if Qen. Mgr., Waltham. Mass. GENERAL OFFICE, Waltham, Mass. NARRAGANSETT PIER BB. — Kingston to Narragansett Pier. R. I., 8.5 m. — total track (steel; 56 Ibs.), 9.3 miles. Gauge. 4 ft. Si in. Chartered Jan., 1868; road opened July 17, 1876. Locomotives, 2. Cars — passenger, 7; freight (box, 1; flat, 2; coal, 10), 13 — total, 20. Operations, year ending June 30, 1902. — Trains run (passenger, 32,000; freight, 5,321; mixed. 1,938). 39.259 mile? Passengers carried, 128,960; carried one mile, 682,385. Tons freight moved, 23,433; ton-miles, 129,083. Earnings (passenger, $26,697; freight, $18,117; other, $2.382), $47,196. Operating expenses, $39.936. Net earnings, $7,260; other receipts, $715 — total, $7,975. Payments: Interest on bonds, $2,800; taxes $1,332; dividends (4 p. c.), $5,352 — total. $9,484. Deficit, $1.509. General Balance Sheet, June 30, 1902. — Capital stock paid In ($200,000 auth. ; $100 shares), $133,800; funded debt (1st 4s of 1916; $100,000 auth.), $70.000; current liabilities, $17,343 ; interest accrued, $1,167 : profit and loss, $39,392— total, $261.702. Contra : Cost of road and equipment, $242,525; cash and current assets, $19.177 — total, $261,702. Directors. — Rowland G. Hazard, Peace Dale, R. I. ; Benj. F. Robinson, Geo. C. Robinson, B. F. Robinson, Jr., Wakefleld, R. I. ; John M. Hall, New Haven, Conn. OFFICERS : ROWLAND G. HAZARD, Prea. d Treat.; Wm. T. Stedman, Sec.; Thos. G. Hazard, Jr., Supt., Narragansett Pier, R. I. GENERAL OFFICE, Peace Dale, R. I. NEWPOBT AND WICKFOBD BB. (d S. B. Co. ) .— Wickford June, to Wickford, R. I.. 3.4 m. ; total track (steel; 60 Ibs.), 4 miles. Gauge, 4 ft. 8J in. Chartered in 1872; road opened Jan. 1, 1874. Operated In connection with N. Y., P. & B. RR. Locomotive, 1. Cars — passenger, 1 ; baggage, etc., 1; freight (box), 1 — total, 3. Connection is made between Newport and Wickford, 12 m.. by ferry ; 1 steamboat. Operations, year ending June 30, 1902. — Earnings (passenger, $37,905; freight, $2,851; other, $15,530), $56,286. Operating expenses, $51,231. Net earnings, $5,055. Paid interest on bonds, $4,250; taxes, $633 — total, $4,883. Surplus, $172; surplus forward, $979 — total, $1,151. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $100,000; funded debt (1st 5s of Aug., 1920, Int. F. & A.), $85,000; current liabilities, $4,367; profit and loss, $1,151 — total, $190,518. Contra: Cost of road and equipment, $184,518; current and other assets, $6.000 — total, $190,518. Directors. — Angus McLeod, George Peabody Wetmore, H. D. Auchincloss, Geo. Gordon King, Newport, R. I. ; Jacob W. Miller, Theo. K. Gibbs, New York, N. Y. OFFICERS : JACOB W. MILLER, Prea. & Gen. Mgr., Pier 19, N. R., New York, N. Y. ; Angus McLeod, Sec. A Treos., New- port, R. I. GENERAL OFFICE, Merchant's Bank, Newport, R. I. PHILLIPS AND RANGELEY BB.— Phillips to Rangeley, Me., 28.6 miles. Gauge, 2 rt. Rail (steel), 35 Ibs. Organized April 17, 1889; completed July, 1891. Locomotives, 4. Cars — pas- senger, 4; baggage, 1 ; freight (box, 15; flat, 67), 82; caboose. 1; other cars, 16 — total, 104. Operations, year ending June 30. 1902. — Trains run (passenger, 22,640; mixed, 18,352), 40,992 miles. Passenger? carried, 11,011; carried one mile, 298,788. Tons freight moved, 6,983; ton-miles, 180,696. Earnings (passenger, $10,871; freight, $9,981; other, $4,786), $25,638. De- ductions : Operating expenses, $27,708 ; interest on bond? , $10,000 ; other interest, $2,985 ; taxes, $199 — total, $40,892. Deficit, $15,254; deficit forward, $81,935 — total, $97,189. General Balance Sheet, June 30, 1902. — Capital stock paid in ($100,000 auth.; $100 shares), $99,400 ; funded debt, $200,000 ; current liabilities, $91,170 ; interest accrued. $8,558 — total, $399,128. Contra : Cost of road and equipment, $296,523 ; materials, etc., $101 ; cash and current assets, $5,315 ; profit and loss, $97,189 — total, $399,128. Funded Debt. — The funded debt outstanding June 30, 1901 (total, $200,000). consisted of $160,000 1st 5s of Aug. 1, 1910, and $50,000 ($75,000 auth.) 2d 5s of Sept. 1, 1912. Directors (elected April 18, 1902). — Calvin Putnam, Danvers, Mass.; Fletcher Pope, Joel Wilbur, H. H. Field, J. H. Byron, S. G. Haley, Fred N. Beal, Phillips, Ms. OFFICERS : CALVIN PUTNAM, Prea., Danvers, Mass. ; Fletcher Pope, Vice-Pres. & Gen. Mgr. & Treos., Phillips, Me. GENERAL OFFICE, Phillips, Me. SANDY BFVEB BB. — Farmington to Phillips, Me., 18 miles. Gauge, 2 ft. Rail (steel). 35 and 52 Ibs. Chartered April 8, 1879 ; road opened Nov. 20, 1879. Locomotives, 5. Cars — passen- ger. 4; baggage, etc.. 3; freight (box, 40; flat, 81), 121 — total, 128. Operations, year ending June 30, 1902. — Trains run (passenger, 28,559; freight, 1,430; mixed, 13,632; other, 1,278). 44.899 miles. Passengers carried, 31,760; carried one mile, 445,335. Tons freight moved, 41,375; -ton-miles, 534,815. Earnings (passenger, $16,694; freight, $31,898; other, $4.704), $53,296. Operating expenses, $29,062. Net earnings, $24.234; other receipts, $2,688 — total, $26.922. Payments : Interest on bonds, $15,000 ; other interest, $633 ; taxes, $937 ; dividends (5 p. c.), $5,000 — total, $21,570. Surplus, $5,352 ; deficit forward, $94,003 ; net deficit, $88,651. General Balance Sheet, June 30, 1902. — Capital stock, ($100 shares). $100,000; funded debt, $300,000; current liabilities. $26,084; interest accrued, $1,766 — total, $427,850. Contra: Cost of road and equipment, $277,192 ; securities owned, $46,065 ; materials, etc., $1,405 ; cash and other assets, $14,537 ; profit and loss, $88,651 — total, $427,850. Funded Debt. — The funded debt outstanding on June 30, 1902 (total $300,000), consisted of $100,000 1st 6s of Sept 1, 1915, and $200,000 1st consol. 5s of July 1, 1921. POOR'S MANUAL OF RAILROADS. 45 Directors (elected Nov. 20, 1902) — Weston Lewis, J. S. Maxcy, P. H. Wlnslow, Gardiner, Me. OFFICERS: WESTON LEWIS, Pres.; J. S. Maxcy, Vice-Pres. & Gen. Mgr. ; Geo. A. Farrington, See. & Treas.; P. H. Wlnslow, And., Gardiner, Me. GENERAL OFFICE, Gardiner, Me. SEBASTICOOK AND MOOSEHEAD RR. — Pittsfleld to Mainstream, Me., 15 miles. Gauge, 4 ft. 8J in. Rail (steel), 50 Ibs. Organized July 24, 1886; road opened from Pittsfleld to Hartland, 8 miles, Nov. 2, 1886 ; extension to Mainstream opened In Jan., 1901. During the fiscal year 1898-1899, the franchise of this road and the right to take tolls for ten years were purchased by Z. D. Lancaster, an execution against the company having been obtained by the Lakeside Press, Portland, Me. Receiver appointed, June 24, 1899, in suit to foreclose the first mortgage. Locomo- tives (in service, 1), 2. Cars — passenger, 1; combination, 2; freight (flat, 6) — total, 9. Operations, year ending June 30, 1902. — Trains run (passenger, 11,400; mixed, 9,639), 21,039 miles. Passengers carried, 16,228. Tons freight moved, 15,764. Earnings (passenger, $5,182; freight, $9,496; other, $1,531), $16,209. Operating expenses, $15,433. Net earnings, $776. Payments : Interest on bonds, $2,392 ; taxes, $122 — total, $2,514. Deficit, $1,738 ; surplus forward, $179 — net deficit, $1,559. Financial Statement, June 30, 1902. — Capital stock paid In ($400,000 auth. ; $50 shares), $180,000; funded debt ( 1st 5s of Oct. 1, 1925 ; $250,000 auth.), $100,000 ; receivers' certificates, $47,000 — total, $327,000. Directors. — Not reported. OFFICERS : A. B. THOMPSON, Rec., Treas. & Oen. ttgr., Pittsfleld, Me. GENERAL OFFICE, Pittsfield, Me. SOMERSET RY. — Oakland to Bingham, Me., 41.06 m. ; Dodlin's Quarry branch, 1 m. ; total track, 42.01 miles. Gauge, 4 ft. 8J in. Rail (steel, 43.56 m.), 50, 52 and 70 Ibs. Chartered as Somerset RR. March 19, 1860 ; road opened from Oakland to North Anson, 25 miles, Jan. 26, 1874. Defaulted Jan. 3, 1879 ; reorganized under present name Aug. 15, 1883. Extended from North Anson to Solon, 8.86 miles, in 1889 ; from Solon to Bingham, 7.2 miles, and branch built to Dodlin's Quarry in 1890. (See MANUAL for 1892, page 585.) Locomotives, 7. Cars — passenger, 6; combination, 2 ; baggage, etc., 3 ; freight (box, 114 ; flat, 45), 159; other, 8 — total, 178. Operations, year ending June 30, 1902. — Trains run (passenger, 53,564; mixed, 37,583), 91,147 miles. Passengers carried, 42,945 ; carried one mile, 953,978. Tons freight moved, 159,- 552; ton-miles, 3,576,449. Earnings (passenger, $27,031; freight, $97,747; other, $6,654), $131,432. Operating expenses, $97,868. Net earnings, $33,564; other receipts, $2,637 — total, $36,201. Payments : Interest on bonds, $18,150 ; other interest, $551 ; taxes, $1,679 ; permanent Improvements, $11,803 — total, $32,183. Surplus, $4,018 ; surplus forward, $27,375 — total, $31,393. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $736,649; funded debt, $397,500; current liabilities, $32,973; profit and loss, $31,393 — total, $1,198,515. Contra: Cost of road and equipment, $1,166,972 ; materials, etc., $6,676 ; cash and current assets, $24,867 — total, $1,198,515. Funded Debt. — The funded debt outstanding on June 30, 1901 (total, $397,500), consisted of $225,000 1st 5s of July 1, 1917, and $172,500 ($420,000 auth.) consol. 4s of July 2, 1950. Directors (elected Oct. 8, 1902). — R. W. Dunn, W. T. Haines, Waterville, Me.; B. P. J. Weston, Madison, Me. ; W. M. Ayer, A. R. Small, Oakland, Me. ; J. F. Hill, Augusta, Me. ; Weston Lewis, Gardiner, Me. OFFICERS : R. W. DUNN, Pres. ; W. M. Dunn, Vice-Pres., Waterville, Me. ; A. R. Small, Clerk & Treas.; H. W. Greeley, Auditor, Oakland, Me. GENERAL OFFICE, Oakland, Me. SOUTH MANCHESTER RR. — South Manchester to Manchester, Conn., 2.25 m. ; total track (3.58 m. steel; 56 Ibs.), 4.66 miles. Gauge, 4 ft. 81 in. Chartered May, 1866; road opened in June, 1869. Locomotives, 2. Cars (passenger), 4. Operations, year ending June 30, 1902. — Trains run (passenger, 14,070; freight, 1,845), 15,915 miles. Passengers carried, 100,372 ; carried one mile, 225,837. Tons freight moved, 45,- 348; ton-miles, 102,033. Earnings (passenger, $4,364; freight, $13,607; other, $78), $18,049. Operating expenses, $15,333. Net earnings, $2,716. Payments : Taxes, $500. Surplus, $2,216 ; surplus forward, $62,094 — total, $64,310. General Balance Sheet, June 30, 1902. — Capital stock, ($100 shares), $40,000; current liabilities, $20,569 ; profit and loss, $64,310 — total, $124,879. Contra : Cost of road and equip- ment, $121,320 ; materials, etc., $3,559 — total, $124,879. Directors. — F. W. Cheney, Richard O. Cheney, Harry G. Cheney, Chas. S. Cheney, Frank Cheney, Jr., South Manchester, Conn. OFFICERS: F. W. CHENEY, Pres.; Richard O. Cheney, Sec. & Gen. Mgr.; Charles S. Cheney, Treas., South Manchester, Conn. GENERAL OFFICE, South Man- chester, Conn. UNION FREIGHT RR.— B. & M. RR. to N. Y., N. H. & H. RR., Boston, Mass., 2.43 m. ; total track (steel; 88 Ibs.), 4.65 miles. Gauge, 4 ft. 8J in. Chartered and road opened in 1872. (See MANUAL for 1888, page 84.) Locomotives, 4. Operations, year ending June 30, 1902. — Trains run (freight), 23,652 miles. Tons freight moved, 268,140 ; ton-miles, 368,692. Earnings (freight, $80,599 ; other, $565), $81,164. Operat- ing expenses, $41,695. Net earnings, $39,469 ; other receipts, $2,076 — total, $41,545. Payments : Interest debt, $3,540; taxes, $2,528; dividends (12 p. c.), $36,000 — total, $42,068. Deficit, $523; surplus forward, $51,220 ; net surplus, $50,697. General Balance Sheet, June 30, 1902. — Capital stock paid in ($500,000 auth.; $100 shares), $300,000; real estate mortgages, $88,500; current liabilities, $25,472; profit and loss, $50,697 — total, $464,669. Contra : Cost of road and equipment, $413,070 ; securities owned, $13,000 ; materials, etc., $3,702 ; cash and current assets, $34,897 — total, $464,669. Directors (elected Jan. 14, 1903). — Chas. F. Choate, Fayette S. Curtis, Geo. A. Gardner, Bos- ton, Mass. ; John M. Hall, New Haven, Conn. ; Joshua M. Sears, Nathaniel Thayer, Boston, Mass. OFFICERS : FAYETTE S. CURTIS, Pres. ; Austin W. Adams, Clerk & Treas. GENERAL OFFICE, South Terminal Station, Boston, Mass. WASHINGTON COUNTY RR. -Calais to Washington June., Me., 102.28 m. ; Eastport June, to Eastport, Me., 16.72 m. ; St. Crolx June, to Princeton, Me., 17.33 m. — total, 136.33 m. ; total track (steel ; 146.79 m.), 148.20 miles. Gauge, 4 ft. 8) in. Rail — Iron, 66 Ibs. ; steel, 60 Ibs. Chartered March 7, 1893; road opened throughout on Jan. 2, 1899. (See MANUAL for 1900, page 46.) Locomotives, 12. Cars — passenger, 16; combination, 3; baggage, mail, and express, 4; freight (box, 100; flat, 147), 247; caboose, 2; derrick, 1 — total, 273. Operations, year ending June 30, 1902.— Trains run (passenger, 162,832; freight, 75,498; mixed, 33,685), 272,015 miles. Passengers carried, 182,780; carried one mile, 5,058,917. Tons 46 POOR'S MANUAL OF RAILROADS NEW ENGLAND GROUP. freight moved. 173,038 ; ton-miles. 7,702,638. Earnings < passenger, $130,784 ; freight, $107,634 : other, $23,605), $261,923. Operating expenses, $179,015. Net earnings, $82,908. Pay men ts : In- terest on bonds, $108,583; taxes, $2,106 — total, $110,689. Deficit, $27,781; deficit forward, $170,283— total, $198,064. General Balance Sheet* June 30, 1902. — Capital stock paid in ($1,499,900 common and $500,000 preferred), $1,999,900; funded debt (1st 5s of Jan. 1. 1948), $2,320,000; loans and bills payable. $69,657; current liabilities, $25,426; unpaid interest, including July 1, 1902, $519,- 829 — total, $4,934,812. Contra : Cost of road and equipment, $4,686.173 ; materials, etc., $24.602 ; cash and current assets, $25,973 ; profit and loss, $198,064 — total, $4,934,812. Capital Stock. — Capital stock authorized Is $2,000,000 in $100 shares — common, $1,500,- 000 ; preferred, $500,000. The preferred stock is entitled to dividends up to 5 p. c. per annum, non- cumulative, In priority to common stock. It is all held by Washington County, Me. Directors (elected March 10, 1903). — For one year: Geo. A. Curran, Calais, Me.; L. M. Schwan. Frank E. Randall, New York ; F. A. Chandler, Addison, Me. ; W. M. Nash, Cherryfleld, Me. For fico years: W. Kirkpatrick Brice, Stewart M. Brice, New York; Geo. A. Murchie, R. W. Kelley, Calais, Me. For three years: John W. Simpson, Grant B. Schley. F. W. Whltridge, Henry W. Cannon, New York. OFFICERS : FREDERICK W. WHITRIDGE, Pres. ; Grant B. Schley, 1st Vice- Pres. ; Frank E. Randall, Treat., New York, N. Y. ; O. J. Cherry, Clerk d Oen. Aud. ; R. W. Kelley, Oen. Mgr.; N. P. Baker, Oen. Supt., Calais, Me. GENERAL OFFICE, Calais, Me. WHITE RIVER BB. — Rochester to Bethel, Vt., 19 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Chartered Nov. 21, 1902, as successor to the White River Valley RR. Co., whose property was sojd under foreclosure Aug. 19, 1902 (see MANUAL for 1902, page 42). Locomotives, 2. Cars — passenger, 2; freight, 6. Capital stock ($100 shares), $250,000. Funded debt (gold 5s of Jan. 1, 1933, int. J. & J.), $250,000. Trustee of bonds: American Loan and Trust Co., Boston, Mass. Cost of road, about $400,000. SAMUEL WILLIAMS, Pres.; Ernest P. Jose, Asst. Treas., Boston, Mass. GENERAL OFFICE, Boston, Mass. WISCASSET, WATERVILLE AND FARMINGTON BB.— Wiscasset to Winslow, Me., 42.2 m. ; Weeks Mills June, to Albion, Me., 15.26 m. — total, 57.46 m. ; total track (steel ; 35 Ibs), 60.96 miles. Gauge, 2 ft. Consolidation, March 29, 1901, of the Wiscasset and Quebec RR. Co. (see MANUAL for 1901, page 41), the Waterville and Wiscasset RR. Co. and the Franklin, Somerset and Kennebec Ry. Co. The extension from Weeks Mills to Winslow, 14 miles, was built in 1902. Locomotives, 4. Cars — passenger, 3 ; combination, 2 ; baggage, etc., 1 ; freight (box, 22 ; flat, 24 ; coal, 10), 56; service, 22 — total, 84. Operations, year ending June 30, 1902. — Trains run (passenger, 10,161; freight, 27,534; mixed, 7,470), 45,165 miles. Passengers carried, 12,479; carried one mile, 225,798. Tons freight moved, 15,000; ton-miles, 398,540. Earnings (passenger, $5,800; freight, $15,061; other, $4,988), $25,849; other receipts, $31 — total, $25,880. Deductions: Operating expenses, $26,066; Interest on bonds, $2,392 ; taxes, $149 — total, $28,607. Deficit, $2,727. General Balance Sheet, June 30, 1902. — Capital stock paid in ($1,000,000 auth. ; $100 shares), $194,300; funded debt (1st gold 5s of July 1, 1931; $1,000,000 auth.), $637,300; cur- rent liabilities, $14,144 — total, $845,744. Contra: Cost of road and equipment, $804,130; ma- terials, etc., $1,162; cash and current assets, $37,725; profit and loss, $2,727 — total, $845,744. Directors. — Edward P. Borden, Joseph C. Gill, Philadelphia, Pa. ; Fredk. C. Thayer, Water- vllle, Me. ; Godfrey P. Farley, Wm. D. Patterson, Wiscasset, Me. ; Leonard Atwood, Farmlngton Falls, Me.; P. H. Stubbs, Strong, Me. OFFICERS: LEONARD ATWOOD, Pres.; Fredk. C. Thayer, Vice-Pres., Waterville, Me. ; Wm. D. Patterson, Cleric A Aud., Wiscasset, Me. ; Joseph C. Gill, Treas., Philadelphia, Pa. GENERAL OFFICE, Waterville, Me. WOOD BIVEB BRANCH RR.— Wood River Junction to Hope Valley, R. I., 5.7 m. ; total track (steel, 3.75 m.), 6.62 miles. Rail — iron, 45 Ibs.; steel, 58 and 60 Ibs. Gauge, 4 ft. 8} in. Chartered May, 1872 ; road opened July 1, 1874. Locomotives, 2. Cars — passenger, 2 ; bag- gage, mall, etc., 1 — total, 3. Operations, year ending June 30. 1902. — Trains run (passenger, 12,000; mixed, 6,377; other. 500), 18,877 miles. Passengers carried, 22,545; carried one mile, 116,460. Tons freight moved, 15,306 ; ton-miles, 82,543. Earnings (passenger, $5,000 ; freight, $10,293 ; other, $1,002), $16,295. Operating expenses, $10,810. Net earnings, $5,485 ; other receipts, $50 — total, $5,535. Payments : Interest on bonds, $3,108 ; other interest, $291 ; taxes, $500 — total, $3,899. Surplus, $1,636 ; surplus forward, $9,326 — total, $10,962. Deductions during the year, $750. Net surplus, $10,212. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $60,000; funded debt (1st 5is of July 1, 1909; $60,000 auth.), $56,500; current liabilities, $7,731; Interest ac- crued, $1,554 ; profit and loss, $10,212 — total, $135,997. Contra : Cost of road and equipment, $128,646; cash and current assets, $7,351 — total, $135,997. Directors (elected Oct. 14, 1902). — Amos G. Nichols, Edward Barber, F. H. Peckham. Ralph C. Watrous, Edward G. Buckland, Providence, R. I. OFFICERS : AMOS G. NICHOLS, Pres., Hope Valley. R. I.; Ralph C. Watrous, Vice-Pres., Providence, R. I.; S. R. Richmond, Treas.; Edward G. Buckland, Sec.; Adelbert R. Clark, 8upt., Hope Valley, R. I. GENERAL OFFICE, Hope Valley, R. I. WOODSTOCK BY. — Woodstock to White River June., Vt, 13.88 m. ; total track, 15 miles. Gauge, 4 ft. 8J in. Rail (steel, 13 m.), 56 Ibs. Organized July 1, 1890, as successor to the Wood- stock RR. Co. (See MANUAL for 1891, page 593.) Locomotives, 2. Cars — passenger, 3; baggage, etc., 1 ; freight (box, 2 ; flat, 3), 5 — total, 9. Operations, year ending June 30, 1902. — Earnings (passenger, $15,411 ; freight, $23,257 ; other, $1,961). $40,629. Operating expenses, $24,149. Net earnings, $16,480; other receipts, $300 — total, $16,780. Payments: Taxes, $1,052 ; dividends (3 p. c.). $7,497 — total, $8,649. Sur- plus, $8,231 ; surplus forward. $35,448 — total, $43,679. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $250,000; profit and loss, $43,679 — total, $293,679. Contra : Cost of road and equipment, $269,110 ; materials, etc., $3,676 ; cash and current assets, $20,993 — total, $293,679. Directors. — John J. Dewey, Quechee, Vt. ; Frank S. Mackenzie, Frederick Billings, Franklin F. Billings, Wm. E. Johnson. J. O. Porter, Woodstock, Vt. ; Samuel E. Kilner, New York, N. Y. ; Richard Billings, St. Paul, Minn. One vacancy. OFFICERS : JOHN J. DEWEY, Pres., Quechee, Vt. ; F. 8. Mackenzie, Vice-Pres.; J. G. Porter, Gen. Mgr., Trees. & Clerk, Woodstock, Vt. GENERAL OFFICE, Woodstock, Vt POOR'S MANUAL OF RAILROADS. 47 MIDDLE GROUP— States of New York, New Jersey, Penn- sylvania, Delaware and Maryland, and District of Columbia. BALTIMORE AND OHIO RAILROAD COMPANY. (For map of this system, see between pages 48 and 49.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONB. Capitalization of System 7 Capital Stock 12 Cost of Proprietary Roads..l4, 16 Directors and Officers 20 Dividends Paid 9 Earnings and Expenses. 8 and 9b Earnings of System 6 Equipment of System 4,5 Financial Changes, 1901-02... 11 Funded Debt Details 13 General Balances, 1896-1902 ... 17 General Balance Sheet 10 History 1 Income Account 8 Interest Charges, etc 9c Leased Lines, Statements for. 19 Mileage of System 2, 3 Operations & Inc., 1901-1902.. 6 Rolling Stock 4 Securities Deposited Under Mtges 13 Securities Owned 18 Subsidiary Roads Statements. 19 Undeposited Old Securities.. .15 1. History. — The Baltimore and Ohio RR. Co. was chartered in Maryland on Feb- ruary 28, 1827, and in Virginia on March 8, 1827. The construction of the road was begun on July 4, 1828, and the main line was opened throughout on January 1, 1853. On March 1, 1896, the property was placed in the hands of receivers, by whom it was oper- ated for more than three years. It was restored to the company on July 1, 1899, a reor- ganization having been effected, without foreclosure, under the terms of the plan outlined in the MANUAL for 1898, on page 1378 et seq. The story of the enlargement of the system since the reorganization, including an account of the financial developments connected with such enlargement, is in the MANUAL for 1902, on pages 46 and 47. A sketch of previous enlargements of the system is in the MANUAL for 1898, on page 298, and a review of the financial operations of the company, covering the period from Sept 30, 1884, to June 30, 1895, is in the MANUAL for 1896, page 376. During the year ending June 30, 1902, the Snyder Avenue Branch of the Schuylkill River East Side RR. was extended from Snyder Avenue to Jackson Street in Phila- delphia, a distance of 1 mile; the Patuxent Branch of the Baltimore and Ohio RR. was extended from Savage Factory to Guilford, Md., a distance of 3.03 miles; a branch was constructed, under the charter of the Paw Paw RR. Co., from Fairmont to Gray's Flat, W. Va., a distance of 7.3 miles, and the Niver Coal Fields Line was built from Berlin, Pa., to Niver Coal Mines, No. 1, a distance of 1.69 miles; a total of 13.02 miles added by construction to the mileage of B. & 0. Lines. At the date of the annual report the company was about finishing the construction of a new line under the charter of the Patterson Creek and Potomac RR. of West Vir- ginia, leaving the present Cumberland Division at Patterson Creek, a station 7.1 miles east of Cumberland, intersecting the Cumberland Division again near Potomac Station, 10.3 miles west of Cumberland. The length of the cut-off line is 6.9 miles, the old line 17.4 miles, resulting in the saving in distance of 10.5 miles. The new line crosses the Knobley Mountains by a tunnel 4,120 feet in length. In addition to shortening the dis- tance, the maximum east bound grade 26.4 feet is reduced to 15.8 feet, with degrees of central angle lowered from 1,188 to 380 degrees, and the maximum curvature reduced from 9 to 6 degrees. The line is double tracked, and will be used in the movement of coal and other business from the company's West Virginia and Southwestern lines. Under the charter of the Cherry Run and Potomac Valley RR. of West Virginia, a new line was being constructed between Cherry Run and Wilsons, a distance of 9.64 miles, which, when completed, will furnish a line with maximum grades of 15.8 feet, and which improves the curvature between these points, besides eliminating the helper grade at the company's Paw Paw tunnel summit. The system extends from Philadelphia, Pa., Baltimore, Md., and Washington, D. C., to Chicago, 111., and to St. Louis, Mo., with branches to Mount Jewett, Pa., to Fairport, Cleveland, Lorain, and Sandusky, on Lake Erie, and to several points on the Ohio River. In connection with the Philadelphia and Reading Ry. and the Central RR. of New Jer- 48 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. Bey a through route is maintained between Washington, Philadelphia, and New York. By means of this line connection is made with the Baltimore and New York RR., the Arthur Kill Bridge, and the railroads and terminals of the system on Staten Island. 2. Mileage of Baltimore and Ohio Railroad System, June 30, 1902. Lines Operated aa Baltimore and Ohio RR. A. LINES OWNED (total, 524.91 miles )^ Main Stem: Baltimore, Md., to Wheeling, W. Va 379.42 miles. Locust Point Branch: Mt. Clare to Locust Point, Md 5.60 Camden Cut-off: Carroll to Camden Junction, Md 1.50 " South Baltimore Branch: Carroll to Cliffords, Md 2.00 / Curtis Bay Branch: Curtis Bay Junction to Curtis Bay, Md 5.46 Sea Wall Branch: Crisp to Wagners Point, Md 1.50 Patuxent Branch: Savage to Guilford, Md 4.33 Alexandria Branch: Alexandria Junction, Md., to Shepherd, D. C 12.50 M< tropolitan Branch: Washington, D. C., to Washington Junction, Md. . . . 42.80 " Frederick Branch : Frederick Junction to Frederick, Md 3.50 Imperial Coal and Coke Branch: Hardman to I. C. & C. Co. Mines, W. Va. . . 1.38 Raccoon Valley Branch: Newburg to Austin Mines, W. Va 3.12 Gorman Extension: Austin Mines to Gorman Mines, W. Va 0.78 Parkersburg Bridge: Parkersburg, W. Va., to Belpre, 0 1.40 Benwood Bridge: Benwood, W. Va., to Bellaire, 0 1.10 Adamsburg Branch: Yough RR. Junction to Edna, Pa 1.73 Kiver Coal Fields Line: Berlin, Pa., to Niver Coal Fields, No. 1 1.69 Philadelphia Branch : Delaware State Line to Canton, Md 52.60 Sparroics Point Branch: Sparrows Point Junction to Colgate Creek, Md. ... 1.60 Highlandtown Branch: Highlandtown Junction to Highlandtown, Md 0.90 B. PROPRIETARY AND LEASED ROADS (total, 2,685.02 miles). Akron ft Chicago Junction RR... 76.66m. Baltimore ft New York Ry 5.30 m. Bait. & Ohio ft Chicago RR 262.78 m. Bait. & Ohio Connecting RR 2.22 m. B. ft 0. Southwestern RR 917.22 m. Baltimore ft Philadelphia RR 59.32m. Baltimore Belt RR 7.16 m. Bay Ridge ft Annapolis RR 4.50 m. Berkeley Springs & Potomac RR. . 5.95 m. Berlin RR 8.00 m. Central Ohio RR 137.30 m. Bellaire ft St. Clairsville RR 6.53 m. Clev., Woos. ft Musk. Vy. RR 36.26 m. Colum. A Cincin. Midland RR 69.80 m. Confluence ft Oakland RR 19.70m. Eastern Ohio RR 16.92m. Fayette County RR 11.80 m. Fairm., Morgan ft Pittsb. RR 57.60m. Grafton ft Belington RR 46.73 m. Lancaster, Cecil & Southern RR . . 4.00 m. Metropolitan Southern Ry 2.25 m. Brought Forward 1,758.00 Monongahela River RR 31.20 Mt. Pleasant ft Bd. Ford RR. 9.70 Ohio ft Bait. Short Line RR. 9.30 Ohio Midland RR 46.70 Parkersburg Branch RR 103.30 Paw Paw RR 7.30 Pittsb. ft Connellsville RR... 148.80 Pt. PL, Buck, ft Ty. V. RR. 9.30 Salisbury RR 16.17 Sand., Mans, ft Newark RR. 116.25 Schuylkill Riv.East Side RR. 12.00 Smithfield & Masontown RR. 7.91 Somerset & Cambria RR. ... 45.10 South Branch RR 16.00 Washing. B'ch. of B. ftO. RR. 31.00 Washington County RR 24.20 West Virginia ft Pittsb. RR. 176.48 Winchester ft Potomac RR.. 32.00 Winchester ft Strasburg RR. 20.38 Wheeling, Pittsb. ft Bait. RR. 63.93 O. TRACKAGE RIGHTS (total, 23.57 miles). Cumberland d Pennsylvania RR : Cumberland to Mt. Savage, Md 3.50 " Chicago, Rock Island d Pacific Ry. : R. I. Connection to Brainerd June., Ill . 6.27 Chicago Term. Trans. RR.: Forest Hill to Grand Central Sta., Chicago, 111. 11.20 Cleveland, Cincinnati, Chicago ) I. B. ft W. Junction to Columbus, 0 1.40 " d St. Louis Ry.: ] Union Depot to Transfer Depot, Cin., O.. 1.20 Total length of lines operated as B. ft 0. RR 3,233.60 miles. ia/M3S2^-Aj^r ^H- / \\Jw3toS&~±~ emphis\Jc. RussfiHville ^Glasgow MAP OF THE BALTIMORE & OHIO SYSTEM. . //; 1" \Ckve <-' ~- -Norfolk 1>0|-1M\IOU| POOR'S MANUAL BALTIMORE AND OHIO RR. CO. 49 Controlled and Affiliated Lines, Operated by B. & 0. RR. Co. as Agent. A. PROPRIETARY (total, 1,099.82 miles). Valley RR. of Virginia 62.00m. Ohio River RR 208.66 m. Huntington & Big Sandy RR... 10.92m. Ravensw., Spencer & Glenv. Ry. . 32.50 m. Ripley & Mill Creek Valley RR. . 13.00 m. West Virginia Short Line RR. . . 58.00 m. Pittsburgh Junction RR 6.92 m. Pittsburgh & Western RR 214.18m. Pittsburgh & Northern RR 3.30 m. Brought forward 609.48 miles. Trumbull & Mahoning RR... 11.38 " Pittsb., Cleve. & Toledo RR. . 77.10 " Pittsb., Painesv. & Fairp. RR. 53.00 Ellwood Short Line RR 3.10 " Cleve., Term. A Valley RR... 75.47 " Sandyville A Waynesb. RR... 5.95 " Cleve., Lor. & Wheeling RR. 192.30 " Ohio & Little Kanawha RR.. 72.04 " B. TRACKAGE RIGHTS (total, 6.22 miles). P., C., C. d St. L. Ry.: Benwood Junction to Wheeling, W. Va 4.00 Cincinnati & Muskingum Valley RR.: Zanesville to Fair Oaks, 0 1.60 Bait. & Ohio Southwestern RR.: West Marietta to Marietta. . 0.62 Total length of lines operated by B. & O. RR. Co., as agent 1,106.04 miles. Total length of lines operated by B. & 0. RR. Co., June 30, 1902. . . .4,339.54 miles. Controlled and Affiliated Lines Operated by Their Own Organizations. Shnrpsville Railroad 17.75 " 8tat en Island Railway 12.64 " Staten Island Rapid Transit Railway 10.90 " Total single track mileage of the system, June 30, 1902 4,380.83 miles. The results from the operation of the controlled and affiliated lines that are oper- ated by the B. & O. RR. Co., " as agent for their owners" (total, 1,106.04 miles, as per preceding statement), are not included in the accounts of the operating company, except that the sum of $1,054,887.94 is included in the income account (Section 8) as the net income of the following lines for the periods named: Ohio River RR., 12 months; West Virginia Short Line RR. (deficit), 11 months; Pittsburgh Junction RR., 12 months; Pittsburgh &, Western RR. (including Trumbull and Mahoning RR., Ellwood Short Line RR. and Pittsburgh and Northern RR.), 5 months; Pittsburgh, Cleveland & Toledo RR., 12 months; and Pittsburgh, Painesville and Fairport Ry., 12 months. In Section 6 is shown the combined income of all lines operated by the B. & O. RR. Co., for two fiscal years. 3. Mileage of Track. — Statement showing by operating divisions the track mile- age of the lines operated by the Baltimore and Ohio RR. Co., on June 30, 1902: NAME. FROM TO First Track. 2d, 3d A 4th Tracks. Sidings. Total Track. B. & 0. Lines Baltimore & New York Ry Schuylkill River East Side RR . . Main Line Stock Yard Branch Arthur Kill Bridge, N. J. . Park Jc.. Phila., Pa Stock Yard Jc Phila Pa. Cranford, N.J Eastwick, Phila., Pa Stock Yards Phila Pa. . . M. 5.30 3.80 0.50 M. 7.40 M. 5.62 19.80 M. 10.92 31.00 0.50 Delaware Branch East Side Philadelphia Pa Reed St Phila Pa 5.40 5.40 0.26 11.06 Point Breeze Branch Jackson St Phila Pa Point Breeze, Phila., Pa. . . 0.40 0.70 1.10 Oregon Avenue Extension Snydei Avenue Branch SwansonSt., Phila.. Pa.... MooreSt., PhUa., Pa. . Salt Works, Phila., Pa. ... Jackson St., Phila., Pa. ... 0.50 1.40 0.40 0 .09 0.50 1.89 Total Schuylkill Riv. E.S.RR. 12.00 13.90 20.15 46.05 Philadelphia Division. Baltimore A Philadelphia RR Crum Creek Branch Eastwick, Phila.. Pa Md.and Del. State Line . . 36.80 2.40 36.80 32.57 106.17 2.40 WAN June Del Market's! Wilm'tgon Del 3.02 0.00 an South Wilmington Branch Landenberg Branch West Yard, Wilm'ton.Del. Commerce'st.. Wil., Del . . 2.80 14.30 'a. is 2.SO 17.46 Philadelphia Branch . Md & Del £tate Line 52.60 51.16 23.26 UBJt Lancaster Cecil A South RR Childs Md 4.00 0.24 4.24 Colgate Creek Md 1.60 0.15 1.75 Highlandtown Branch Highlandtown, Md. 0.90 0.47 1.37 Total Philadelphia Division 118.42 87.90 50.93 266.96 50 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. NAME. FROM TO First Track. id. 3d A 4th Tracks. Sidings. Total Track. B. ft 0. Unas Main Line and Branch**. Baltimore Belt RR Bay View, Md Hamburg St Balto Md. .. M. 716 M. 9.08 375.60 5.60 1 50 M. 2.85 325.40 19.35 M. IH 09 ' W.tt 3.00 2.43 15.41 3.42 4.51 14.38 79.86 2.2« 6.21 29.35 37.24 23.92 7.01 17.00 1.78 4.48 1.07 7.30 156.22 49.69 8.23 4.18 no Main 1 inc. B ft 0 RR. Baltimore Md Wheeling, W. Vo Locuat Point Md 379.42 5.60 150 Locust Point Branch Mt. Clare. Md Camden Cut-off Carroll, Md Camden June Md South Balto. Branch Carroll, Md . Clifford* Md 2.00 5.46 1.50 4.33 12.50 42.80 225 3.50 24.20 32.00 20.38 5.95 16.00 0.43 9.95 1.92 0.18 1.88 15.65 Curtis Bay June., Md .... Crisp, Md Curtis Bay, Md Wagner's Point, Md Sea Wall Branch. Savage, Md. luilford Md Alexandria June., lid. Washington D. C Shepherd DC ... 21.41 Metropolitan Southern Ry Metropolitan So. Junc.,Md Frederick June., Md. Weverton,Md Chevy Chaxe, Md Frederick Md 2.71 5.15 5.24 3.54 1.06 1.00 0.40 1.36 0.29 Washington County RR. ... Winchester ft Potomac RR Harpers Ferry, W. Va. . . . Winchester, Va Strasburg, Va Berkeley Springs, W.Va.. Romnev, W. Va. Winchester ft Btrasburg RR . . . Berkeley Springs A Potomac RR. .. South Branch RR Hancock, W. Va Green Spring, W. Va Imperial Coal and Coke Co.'s lin. . . . Hardman, W. Va Imp.CoalACokeCo.'sMines Austin Mines, W. Va Gorman Mines, W. Va. . . . Trays Flat W Va 1.38 3.12 0.78 730 Newburg W Va •Vustin Mines W. Va. .... Paw Paw RR Grafton W. Va Parkersburg W Va .... 103.30 42.00 4.73 4.18 5.12 1.40 1.10 2.52 50.40 7.69 3.50 'i.67 Grafton A Belington RR Grafton W. Va Belington W Va. Hayes, W. Va. So.Coal A Trans.Co., W.Va. Pt Plea* Buck. A T V RR TygartsJunc., W. Va Lemley June., W. Va Parkersburg June., W. Va. Benwood, W.Va Relay Station, Md Century, W.Va Belpre 0 Parkersburg Bridge. Benwood Bridge Bellaire, 0 Washington, D C Total Main Line A Branches. . . Washington Branch 740.96 31.00 4.50 415.71 31.00 461.52 14.37 1.26 18.87 0.41 ' ' 0.35 1.618.19 76.37 5.76 120.86 9.44 9.47 50.79 5.55 Bay Ridge & Annapoli* RR . . . Wett Va. i Wheeling, W. Va Edna Pa YouRhRR.Jc Pa Niver Coal Fields Line Total Pittoburg Division. Berlin. Pa Niver Coal Mines, No. 1 . . 1.69 404.93 137.30 6.53 1692 115.47 38.80 228.74 106.82 1.42 2.37 64.44 9.00 2.77 ii.77 749.14 282.92 7.95 19.29 185.32 52.86 5.61 1.40 .81.57 Middle Division. Central Ohio RR Bellaire 0 Columbus, 0 Bellaire A St Clairsville RR. Eastern Ohio RR. St ClairsvilleJc.. 0 Campbells 0 St Clairsville 0 Sandnsky, Mansfield A Newark RR. Ohio Midland RR Roek Run Branch Newark, 0 116.25 43.86 4.63 Newark, 0 Shawnee, 0 Shawnee. 0.. . C.A.H.C.A.I.Co.'sMines.O. C.C.C.ASt.L.Jct.,Cols.,0.. Midland City, 0 2.84 1.40 69.80 C.C.C. 4 St. L Trackage Columbus. 0 Columbus, 0 Columbus 4 On. Midland RR. Total Middle Division 394.90 43.43 198.50 636.92 POOR'S MANUAL BALTIMORE AND OHIO RR. CO. 51 NAME. FROM TO First Track. 2d, 3d A 4th Tracks. Sidings. Total Track. B. & 0. Lines Northwestern Division. Balto & Ohio A Chicago RR Chicago Jet., 0 Brookdale, Chicago, 111. . .. Conn.C.R.I.AP., Chi., 111. . M. 262.70 008 M. 131.21 M. 175.41 M. 569.32 0.08 12.54 4.44 22.40 108.17 0.53 39.92 Rock Island Connection Rock Island Jc., Chi., 111... Conn. C. R. I. A P., Ill Brainerd Jc., Ill C. R. I. A P. Ry. Trackage Balto & Ohio Connecting RR Brainerd Jc., Chicago .... Forest Hill, Chicago, 111... Grand Cent.Sta., Chi., 111. . Chicago Jc., 0 6.27 2.22 11.20 76.13 0.53 36.26 6.27 2.22 11.20 15.63 C T T RR Trackage Forest Hill, 111 Akron & Chicago Junction RR Akron A Chicago Loop Line Cleve. Woos. A Musk. Valley RR. . P. A W. Jc., Akron, 0 P. A W. Jc., Akron, O . . . . Lodi,0 16.41 ' ' 3.06 Conn.C.T.&V., Akron, 0.. Millersburg, Ohio 395.39 528.85 11.09 55.43 21.43 53.31 7.46 11.40 228.25 1.20 166.53 30.55 195.48 267.41 3.78 26.66 2.69 10.14 1.68 1.68 43.78 757.40 826.81 14.87 82.09 24.12 63.45 9.14 13.08 272.03 1.20 Southwestern Division. B A 0 Southwestern RR Belpre, 0 East St. Louis, 111 Marietta Branch Portsmouth Branch Hillsboro Branch Louisville Branch New Albany Branch Bedford Branch Springfield Branch Belpre, 0 rlamden, 0 Blanchester, 0 N. Vernon, Ind Watson, Ind Rivervale, Ind Beardstown, 111 Marietta, 0 Portsmouth, 0 Hillsboro, 0 Jeffersonville, Ind New Albany, Ind Bedford, Ind Shawneetown, 111 C. C. C. A St. L. Trackage Union Depot, Cin., 0 Transfer Depot, Cin., 0 ... 918.42 30.55 357.82 1,306.79 Total Mileage B. A 0. Lines — Affiliated Lines. Valley RR of Va . ... 3,233.50 904.49 1,590.92 5,728.91 Harrisonburg, Va Lexington, Va W.B'k,Guyan.Riv.,W.Va. Wheeling, W.Va 62.00 208.66 400 8.27 41.77 70.27 250.43 4.00 17.01 58.12 Ohio River Division. Ohio River RR BenwoodJc.,W.Va. Benwood Jc., W. Va Pitts., C. C. C. 4 St. L. Ry. Trackage Huntington & Big Sandy RR West Va. Short Line RR W. Bk. Guyan.Riv.,W.Va. New Martinsville, W. Va.. Kenova, W.Va Adainston, W. Va 10.92 58.00 6.09 0.12 281.58 47.98 2.23 .. 0.90 9.72 1.18 329.56 34.73 13.90 18.66 3.63 Rav. Spencer & Glenv. Ry . . . . Ripley & Mill Creek Valley RR. Pitlsburg Junction Railroad. Ravenswood, W. Va Millwood, W. Va Laughlin Jc., Pa Spencer, W. Va Ripley, W.Va Willow Grove Jc., Pa 32.50 13.00 4.47 2.45 4.47 36th Street, Pittsburg, Pa. 9th Street, Pittsburg, Pa. . Total Pittsburg Junction RR. . Pittsburg & Western RR. Standard Gauge 6.92 116.63 97.55 4.47 48.55 10.90 67.53 38.25 22.29 232.71 135.80 Woods Run, Pa VewCa«tle,Pa., inc.Br'hes. Mt. Jewett, Pa Foxburg, Pa Total Pittsburgh Western RR. Truntbull dc Mahoning RR. Standard Gauge 214.18 5.80 4S.55 105.78 0.10 368.51 5.90 5.58 Haselton, Ohio Brier Hill, 0... Narrow Gauge Total Trumbull A Mahon. R.R. Pitts., Cleve. . Baltimore & New York.. . . " Bait & Ohio Connecting. . . " Bay Ridge & Annapolis. . . 500 50,000 500 " Pt. Pleas, Ruck.&Tyg. Val.. " Schuylkill River, E. Side. . '176,256 4,500,000 4,000,000 4,000,000 170,250 " Smithfield & Masontown. . " Staten Island. . . 480.150 1,800 1,692,200 4,950 74,000 511,000 3,500,000 750,000 232,150 511,000 2,624,000 991,150 2,525,800 1,692,200 4,950 74,600 " Staten Island R. T " Valley R.R. of Virginia.. . . " Winchester $ Potomac... . " Winchester & Strasburg. .. Totals 250.739,441 57,627 144,786,125 33,276 377,483.680 86,757 248,060,100 57,014 628.223,121 144,384 392,846.225 90.290 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. Earai 8. General Income Account, Passenger ..$9,923,86727 Expe Freight 38,575,63082 Mail and Express 2,278,74599 Miscellaneous 399,81671 Totals (115.827.45 per mile) 151.178.06079 ending June 30, 1902. Maint. of Way and Struct. . $6,270,986 84 Maint. of Equipment 6,717,86577 Conduct. Transportation... 17,299,68081 General Expenses 2,600,030 32 Net Earnings (35.74 p. c.) Dividends and Interest Received W. U. Telegraph Co. Annuity House Rents and Mis. Receipts Net Income from Subsidiary Lines. .118,289,497 05 937,485 31 60,000 00 . 237.734 70 , 1,054,887 94 Total $20.579,606 00 Totals ($10,1.1.20 per mile) $32,888,563 74 Net Earnings, Washington Branch. . 305.124 04 Interest, Rentals and Taxes (see Sec. 9a) 9,949,598 25 Miscellaneous Improvements 265,19404 Discount and Commission, Securities Sold 1,038,74347 Appropriation for Additions and Im- provements 2,500,000 00 Preferred Dividends (4 p. c.) 2,400,00000 Common Dividends (4 p. c.) 3,039,84800 Total $19,498,507 80 Unappropriated surplus, $1,081,097.20; surplus to June 30, 1901, $1,706,729.07— total, $2,787,816.27. Deduct for adjustments (net balance), $162,594.59 Surplus June 30, 1902, $2,625,221.68. 9. Dividends. — Dividends Nos. 5 and 6 on preferred stock and Nos. 4 and 5 on common stock were paid, respectively, on March 3 and Sept. 2, 1902, each payment amounting to 2 p. c. on each class of stock. Dividend No. 4 on common stock ($1,519,924) was not paid from the earnings of the fiscal year, but from accumulated surplus. 9a. Statement of traffic operations and income of the Baltimore and Ohio lines for the fiscal years ending June 30, 1901 and 1902. 1901 1902 1901 1902 Miles of Kuud Operated . 3,216.26 11,347,085 18,700.632 3,233.50 11,624,203 18,437,705| Net Earnings $ 16,068.200 589.168 00.000 207.625 S 18,289.497 937.485 60.000 237.735 1.054.888 Dividends and Interest Freight Train Mileage Total Revenue Train Mileage 30,047,717 49,279,212 11,660,900 458.294.750 33.528,513 7,140,,S'J7,000 $ 9,054,002 35,553,872 2,133,091 372.866 30,061,908 47.749,765 12,050,275 492,320,279 38.710.216 7.495,527,780 $ 9,923,867 38,575,631 2.278,746 399,817 Net Income, Subsid'y Lines Totals, Net Income. 16,924,993 1G8,3<>4 970.505 8.148,512 240,932 2,400.000 900.000 207.695 2,500,000 20,579,605 305.124 1.047,033 8,902,505 265.194 2,400.000 3.039.MS 1,038.744 2,500.fKKi Net Earnings, Wash. Br Passenger MjWge ........... Taxes Freight (tons) Moved. Interest and Rentals Miscellaneous Improvements Preferred Dividends . . . . Freight (ton) Miles. Faniing" — }'tRTl|p>r , , , Common Dividends Discount find Comifission Freight Additions and Improvements Total Inductions . Mail and Express. Miscellaneous. 15,536,008 1,388,985 14,648.82 9.652.89 4,995.93 65.89 p. c. 1.975 c. 0.498 c. 19,498 508 1.081.097 15.849.51 10.185.37 5,664.14 64.26 p. e. 2.016 c. 0.515 :. Totata Balance, Surplus Gross Earnings per Mile 47,114,431 5,721.695 6,104.310 16.fi09.911 2,610.315 51.178,061 6,270,987 6,717.866 17.299,<>*it een.A of them were converted into common stock prior to June 30, 1902, and $5,949,000 additional be- tween that date and March 1, 1903, leaving only $592,000 outstanding. The company has the right to redeem the bonds on any interest day at par and accrued interest. Any debentures, whether called for redemption or not, may be converted into common stock at par, provided the company receives at least thirty days' written notice. B. & O. Gold Extension Loan. — Secured by first mortgage on the main stem of the B. & O. RR from Baltimore, Md., to Wheeling, W. Va., 379.80 miles. There are reserved for the redemption of the bonds outstanding, 102J p. c. of their face in prior lien 3J p. c. bonds, 12J p. c. in 1st mtge. 4 p. c. bonds and 14 p. c. in preferred stock. P. & C. Gold Extended Loan. — Secured by first mortgage on the main line and Hickman Run Branch of the Pittsburgh and Connellsville RR. There are reserved for the redemption of the $69,000 bonds outstanding, $70,725 in prior lien 3i p. c. bonds, $8,625 in 1st mtge. 4 p. c. bonds and $2,760 in preferred stock of the B. & O. RR. Co. The B. & O. RR. Co. owns all except $142,351 of the capital stock of the P. & C. RR. Co., all of its funded debt except the $69,000 extended bonds, and holds claims against the company for about $10,500,000. The stock, bonds and claims thus owned are deposited under the prior lien and first mortgage, and the $69,000 outstanding bonds have been assumed. The P. & C. RR. is leased to the B. & O. RR. Co. for 50 years from Jan. 1, 1876. Monongahela River First Mortgage Gold Bonds.— Secured on the line from Fairmont to Clarks- burg, W. Va., 31.2 miles. Assumed by the B. & O. RR. Co. There are $1,000,000 real estate mort- gages of the M. R. RR. Co. outstanding, which have not been assumed by the B. & O. RR. Co. The B. & O. RR. Co. owns the entire capital stock of the M. R. RR. Co. and has deposited it under the Pittsburgh, Lake Erie and West Virginia System refunding mortgage, and provision is made in that mortgage for the retirement of the $700,000 1st mtge. bonds. West Virginia and Pittsburgh First Mortgage Gold Bonds. — Secured on the property of the W. V. & P. RR. Co., including 176.48 miles of railroad, as per Sec. 3, and 134,842 acres of timber, coal and mineral lands in West Virginia. The bonds have been assumed, and interest on them at the rate of 4 p. c. per annum is guaranteed by the B. & O. RR. Co. They are subject to redemption until April 1, 1904, at par and accrued interest. The B. & O. RR. Co. owns the entire capital stock of the W. V. & P. RR. Co. and has deposited it under the Pittsburgh, Lake Erie and West Virginia System refunding mortgage. Provision is made in that mortgage for retiring the bonds. Th« prop- erty is leased to the B. & O. RR. Co. for 999 years from Jan. 1, 1890. Schuylkill River East Side First Mortgage Gold Bonds. — Secured on the property of the S. R- E. S. RR. Co., including 12 miles of road as per Sec. 3. The interest on the bonds at the rate of 5 p. c. per annum is guaranteed by the B. & O. RR. Co. That company has the right until Dec. 1, 1903, to purchase the entire issue of bonds at 110 p. c. and accrued interest, on 30 days' notice, and agrees to assume the payment of them when due if they are not so purchased. The B. & O. RR. Co. owns the entire capital stock of the S. R. E. S. RR. Co., one-half of it being held in the treasury and the other half deposited with the trustee of the prior lien mortgage. 14. Cost of Other Komi* Owned by the B. & O. RR. Co. — Schuylkill River East Side RR., $5,433,045.19; West Virginia and Pittsburgh RR., $4,364,721.03; Monongahela River RR., $488,518.84 ; Baltimore and Ohio Connecting RR., $300,784.17 ; Winchester and Potomac RR., $429,794.28; Winchester and Strasburg RR., $106,638.84 ; Eastern Ohio RR., $1,33C. 14 ; Lancas- ter, Oxford and Southern RR., $64,511.21; Smithfield and Masontown RR., $183,198.45; Point Pleasant, Buckhannon and Tygarts Valley RR., $204,320.83 ; Fairmont, Shinnstown and Clarksburg RR., $44,672.35; Tylerdale Connecting RR., $38,313.43 — total, $11,659,854.76. The decrease in cost of West Virginia and Pittsburgh RR., Monongahela River RR. and Eastern Ohio RR. is due to the transfer of the stock of those roads to the trustee of the P., L. E. & W. Va. refunding mortgage, carrying the value of them to " Cost of Road " on the general balance sheet. 15. I'ndepoHlted Old Secnritien. — The following statement shows in detail the old se- curities not deposited under the plan of reorganization of the Baltimore and Ohio RR. Co. and the 60 POOR'S MANUAL OP RAILROADS — MIDDLE ATLANTIC GROUP. supplements thereof, on June 30, 1902 : Baltimore and Ohio Plan. BONDS (total, $226,000). A — Alive ; assumed by the B. rf O. RR. Co. $ B. A O. Extended 4s 118,500 00 Pitts. A Conn. Extended 4s 69,00000 B — Declared due and payable but not presented for redemption. H. & O. Consolidated 5s 9,00000 B. A O. £ Loan, 1872 7,000 00 B. & O. £ Loan, 1874 1,00000 B. A O. Parkersburg Branch 10,00000 B. ft O. Loan, 1886 9,00000 B. A O. Phila. Division 4|s 1,000 00 B. A O. Terminal 4Js 500 00 Washington City and Point Lookout 1,00000 Pitts. Jane, and Middle Div. Plan. BONDS (total, $3,097,000). A — Interest paid by B. d O. RR. Co. $ Central Ohio 4ts 1,009,000 00 Sandusky, Mansfield and Newark 7s 638,000 00 Columbus and Cincinnati Midland 4Js. 2,00000 B — Interest not paid by B. & O. RR. Co. Pittsburgh Junction 1st 959,00000 Pittsburgh Junction 2d 270,00000 Pittsburgh Junction Terminal 219,00000 STOCKS (total, $682,378). Central Ohio Common 15,52800 Central Ohio Preferred 1,10000 Pittsburgh Junction Common 665,75000 Total, Middle Div. Plan 3,779,37800 B. & 0. Southwestern Plan. BONDS (total, $251,364.83). O. & M. Ry. 2d Consol. 7s 3,000 00 B. & O. S. W. RR. 1st mtge 4,000 00 B. & O. S. W. Uy. Series A Income.... 39,679 80 B. & O. S. W. Ry. Series B. Income 187,685 03 B. & O. S. W. Ry. 1st 4Js 17,000 00 STOCK. B. & O. S. W. Ry. Preferred 256.144 22 STOCKS (total, $5,227). B. & O. 2d Preferred 250 00 B. A O. Common 4,977 08 Total, B. & 0. Plan *231,227 00 Total, Southwestern Div. Plan 507,50905 •It will be observed that the total amount not deposited under the B. & O. plan on June 30, 1902, is greater by $69,288 than the amount given in the general balance sheet. This difference Is due to the fact that the $69,000 Pittsburgh and Connellsville bonds are not included in the balance sheet item and to the additional fact that £1,800 of sterling bonds valued in the preceding statement at five dollars to the pound sterling are included In the balance sheet item at their exchange value. 16. STOCKS AND BONDS INCLUDED IN COST OF ROADS TO B. & O. RR. Co. In addition to the above the B. & O. RR. Co. owns the following securities, the cost of which is included in the cost of said lines to the B. & O. as shown in Sec. 14. BONDS. Winchester & Pt. RR. Co., 1st Mtge. ... $147,200 00 Winchester & Pt. RR. Co., 2d Mtge 85,000 00 STOCKS. Baltimore & Ohio Connecting RR. Co.. 200,000 00 Falrm., Shlnnst. & Clarksb. RR. Co.. 40,00000 STOCKS. Pt. PI.; Buck. & Ty. Vy. RR., sub $5,500 00 Smitbfleld & Masontown RR. Co 110,00000 Schuylkil) River East Side RR. Co. ...2,250,000 00 Winchester & Potomac RR. Co 175,050 00 Winchester & Strasburg RR. Co 525,400 00 17. Statement of mileage, rolling stock, and general balances at the close of each year for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles of Road Owned Miles of Track Ow'd. Miles of Road Oper . . Miles of Track Oper. 513.40 1,196.34 2,095.03 3,541.35 857 513.40 1,236.78 2,046.03 3,582.74 863 4 31,652 * 25,000,000 5,000,000 87,246,500 13,827,098 16,680,975 2,110,277 513.40 1,245.01 2,047.03 3,626.13 900 4 38,676 $ 25,000,000 5,000,000 87,947,500 19,553,585 19,772,302 2,020,251 513.40 1,258.55 2,046.73 3,683.41 950 4 45,764 9 35,000.000 39,227,767 134,530,329 1.792,518 14,327,740 924,729 513.40 1,268.18 2,277.97 4,027.43 1,034 4 51,679 S 45,000,000 59,357,167 186.807,830 11,627,700 17,539,427 633,739 520.57 1,329.04 3,220.76 5,521.60 1,120 4 52,264 $ 45,000,000 59,361.267 200,114,450 11,559.480 21,111,HS5 1,706,719 524.91 1,384.92 4,339.54 7,359.00 1,195 4 60,709 S 75,996,200 59,361, 2»i7 221,851.530 11,281,035 21,632,689 2.625,222 Electric Motors Cars 27,124 S 25,000,000 5,000.000 80,797.000 4,687,376 14.040,470 23,737,443 Common Stock Preferred Stock Funded Debt . . Other Cap. Liabil. . . Floating Debt Profit and Loss Total Liabilities . . Cost Road 0 57,007,386 50,629,550 14.436,007 6,284,711 13,166,164 1,392,917 6,948.115 159,293,638 62.559,160 51,330,550 14,437,847 6,481 .554 12,806,739 1 ,559.946 10,117,842 225,809,083 110,758,774 61,362,675 14,446,181 11,483,859 14,426,027 1,651.056 11,680,511 320,965,863 [ 257,445,785 12,347,233 12.602,413 15,242,765 2,879,152 20,448,515 338.853.301 267,613,773 12,765,473 12,885,245 26,715,219 3,282,163 15,591,428 392.747,943 309,466,013 1 1 ,659,855 14,353,867 25.134,258 3.605.697 28,528,253 163.262,289 149,864,850 159,293,638 225,809,083 320,965,863 338,853,301 392,747,943 POOR'S MANUAL — BALTIMORE AND OHIO RR. CO. 61 18. BONDS AND STOCKS OF SUNDRY COMPANIES OWNED BY THE BALTIMORE & OHIO RR. Co. BONDS. Baltimore and New York Ry. Co $350,000 00 B. & O. S. W. Ry. 1st Inc. Ser. " B ".. 2,000 00 B. & O. RR. Co., 1st Mtge. 4s (Treas.). 1,521,602 50 B. & O. S. W. Div. 3Js (Treasury).... 1,045,175 00 Bay Ridge Imp. Co., 1st Lien Cert 4,110 00 Bay Hidge Imp. Co., 1st Mtge. Income 140,000 00 Bay Ridge Imp. Co., Securities 4,20000 Bay Ridge & Annapolis RR., 1st Mtge. 50,000 00 Bait. Shipbuilding & Dry Dock Co.. 8,12500 Bait. Shipbuilding & Dry Dock Co. Income 10,15625 C. & O. C. Co., Trustees Cert, of Ind. . 29,000 00 Chesapeake and Ohio Canal Co., 1844.. 657,500 00 Chesapeake and Ohio Canal Co., 1878.. 500,000 00 Cairo & Kana. Vy. RR. Co., 1st Mtge. . 6,000 00 Clev. Term. & Valley RR., Lease Warrants 192,00000 Kentucky and Indiana Bridge Co 323,00000 P., N. C. & L. E. RR., 1st Mtge 900 00 Pittsburgh & West. Ry. Co., 1st Mtge. 92,000 00 B. & W. Ry. Co. Loco. Lease War 45,208 54 Pittsburgh & Baltimore Coal Co 491,00000 Pitts., Pain. & Fair. RR., 1st Mtge 60,000 00 Pittsburgh Junction Term. Co 25,00000 Pittsburgh Junction RR., 2d Mtge. . . . 20,000 00 Pitts., Clev. & Tol. Ry., 1st Mtge 7,000 00 Sch. Riv. East Side RR. Pier 500,000 00 S. I. Rapid Transit RR., 1st Mtge.... 976,00000 Union Stock Yard Co 241,00000 Valley RR. of Virginia 750,00000 Total Bonds $9,097,579 79 Value as per Balance Sheet 8,590,380 97 STOCKS. Akron Union Passenger Depot $50,00000 Akron and Barb. Belt Line RR. Co . 25,000 00 Bait. Chamber of Com. Cert. Memb.. 7600 B. & O. RR., pref. (Treasury) 451,302 65 B. & O. RR., coin. (Treasury) 18,89055 B. & O. Southwestern RR., preferred. . 7,300 00 Baltimore and New York Ry 350,00000 Bay Ridge Improvement Co 103,40000 Bay Ridge Company 251,000 00 Bay Ridge and Annapolis RR 49,50000 Berlin and Lovettsville Bridge Co 6,00000 Brown Manufacturing Co 50000 Bait. Shipbuilding & Dry Dock Co.... 6,093 75 Camdcn Warehouses 5,00000 Central Ohio RR., pref., old issue 10000 Central Ohio RR., com., old issue 95000 Consolidation Coal Co 5,353,20000 Chi. Union Transfer & Ry. Co., pref. . 40,000 00 Chi. Union Transfer & Ry. Co., com.. 40,000 00 Chicago Board of Trade. Cert. Memb. . 2,875 00 Ones. & Ohio Transp. Co.. subscription 250,000 00 C. & O. Canal Trans. Co., subscription 10,000 00 Clev. Chamb. Commerce, cert. memb. . 90 00 Century Club, Cleveland 5000 Clev., Lorain & Wheeling Ry., pref. . 98,800 00 Clev., Lorain & Wheeling Ry., com 89,900 00 Confluence and Oakland RR. Co 99,00000 Canton and East Liverpool Ry. Co 6,000 00 Delaware and Western Coal Co 5,000 00 E. St. L. Relay Pass. Sta. Ass., subsc. 3,725 00 Electric Power Co 5,50000 Fairport Warehouse & Elevator Co... 150*000 00 Fayette County RR "82,75000 Gauley Company 415,60000 Georgetown Barge, Dock, El. & Ry. Co. 600 00 Hancock Bridge Co 600 00 Lancaster, Cecil & Southern RR 3,00000 Loudon Co. & Frederick Bridge Co. . 6,000 00 La. Purch. Exposition Co., subscr 12.500 00 Manor Mining & Manufacturing Co. . . 25,000 00 Metropolitan Southern RR 500 00 Ohio and Mississippi Ry., common.. 1,40000 Ohio River RR 3,60000 Ohio & Little Kanawha RR., common.. 6,500 00 Ohio & Little Kanawha RR., preferred 9,000 00 Pennsylvania & Lake Erie Dock Co. . 50,000 00 Philadelphia Bourse 1,00000 Pitts., Cleveland & Toledo RR. Co.... 1,495,000 00 Perry Water Co 2,500 00 Pittsburgh Junction RR., common 795,25000 Pitts., Pain & Fair. RR., preferred.. . 80000 Quemahoning Branch RR. Co 250,000 00 Real Estate & Imp. Co. of Baltimore. . 2,500 00 Ripley & Mill Creek Valley RR 7,41500 Richmond- Washington Company 445,00000 Sharpsville RR 179,750 00 Standard Coupe Co. of Baltimore 1.000 00 Syracuse Water Power Co 1,00000 Snow Fork & Hock. Vy. RR., subscr. . 500 00 Southwestern Equipment Co 4,436,162024 Staten Island Rapid Transit Ry 498,20000 Staten Island Ry 569,850 00 Schuylkill Improvement Land Co 2,000 00 Terminal Land Co 2,00000 Union Stock Yard Co 200,00000 Valley RR. of Virginia 1,020,00000 Valley & Elk River RR 10,000 DO Wash. & West. Maryland RR. Co 500 00 West Virginia & Penn. RR. Co 75,10000 Wllm. Agric. & Industrial Assn 25000 Wash. Terminal Co., subscription 500,00000 Total . ..$18,590.979971 Value as per Balance Sheet 16,543,877 00 * The remaining $24,650 of this stock was acquired after June 30, 1902. 19. RAILROADS OWNED, LEASED OR OPERATED BY THE BALTIMORE & OHIO RR. Co. The publication of separate statements for the following railroads is discontinued, for the reason that the Baltimore and Ohio RR. Co. owns practically all their capital stocks and has assumed such of their bonds as it does not own. They are virtually merged into the Baltimore and Ohio RR., as will be seen by referring to ftecs. 7 and 13. Akron A Chicago Jet. RR Baltimore A New York RR Bait. & Ohio A Chicago RR. . . . Bait. A Ohio Connecting RR. . . B. A 0. Southwestern RR Baltimore A Philadelphia RR. . Baltimore Belt RR Berkeley Springs A PotomacRR Berlin RR Clev., Wooster A Musk. Val.RR. Confluence A Oakland RR Eastern Ohio RR Fairmont, Morgnnt'n A PittsRR Fayette County RR Grafton A Belington RR Lancaster, Cecil A South. RR. . . Metropolitan Southern RR Monongahela River RR Mileage 76.66 5.30 262.78 2.22 917.22 59.32 7.16 5.95 8.00 36.26 19.70 16.92 57.00 11.80 46.73 4.00 2.25 31.20 Stock S 2,250,000 350,000 1,503.4.50 200000 Bonds $ 1,500,000 3.50,000 8,000,000 Mt. Pleasant A Broad Ford RR, Ohio A Bait. Short Line Ry. . Ohio Midland RR Mileage 9.70 9.30 46.70 103.30 7.30 148.80 3.30 9.30 5.95 16.17 12.00 7.91 45.10 16.00 2420 Stock $ 150,300 290,000 300,000 6,631.580 i.!i/>ii>.ii 150,000 5,500 50,000 117.950 4.500.000 110,000 1.000.000 130,700 982680 Bondi $ 500,000 300,000 3,000.000 12.681,666 Parkersburg Branch RR Paw Paw RR Pittsburg A Connellsville RR. . . Pittsburg A Northern RR Pt. Pleas., Buck. A Tygarts Vy. Sandyville A Wayneshurgh RR Salisbury RR 4,000,000 5,000,000 3.500,000 30,000 50.000 300,000 200.000 300.000 3,000,000 107.400 2.50.000 200.000 1,200,000 1,300,000 43,000,666 5.000,000 6,000,000 200,000 120,000 3,obb,666 150.000 4,500,000 65ii666 200.000 Schuylkill Riv. East Side RR . . Smithfield A Masontown RR.. . . Somerset A Cambria RR South Branch RR 756,666 200.000 1,200.000 700,000 West Virginia A Pittaburg RR . West Virginia Short Line RR . . Wheeling, Pitts. A Bait. RR . . . 17B.48 58.00 63.93 3.397,663 3.000.000 5,500,000 4,000,000 3.000,000 5.000.000 62 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. lt)a. Operations Included in Accounts of B. d 0. RR. Co. CENTRAL. OHIO RR — Bellaire to Colum- bus. O., 137.3 m. ; Bellaire & St. Clalrsville RR., 6.63 m. — total, 143.83 miles. Capital stock, $2,869.- 900. Funded debt, $2,500,000. The amounts of stock and bonds outstanding are shown in Sec?. 4 and 14. This road, by collateral trust of a majority of its stock, bonds, and other indebted- ness, is covered by and included under the mort- gage dated Nov. 1, 1898, securing the Pittsburgh Junction and Middle Division bonds of the B. & O. RK. Co., and also, subject to said mortgage, under the mortgage dated Nov. 1, 1901, securing the Pittsburgh, Lake Erie and West Virginia System refunding bonds of the same company. (See remarks on those mortgages in Sec. 13.) L. F. Loree, Pres. ; C. W. Woolford, Sec. ; J. V. McNeal, Treas., Baltimore, Md. COLUMBUS AND CINCINNATI MIDLAND RR. — Columbus to Midland City, O., 69.8 miles. Capital stock (common, $2,000,000; preferred, $1,000,000), $3,000,000. Funded debt, $2,000,000. This road, by collateral trust of its stock, bonds, and other indebtedness, is covered by and in- cluded under the mortgage dated Nov. 1, 1898, securing the Pittsburgh Junction and Middle Division bonds of the B. & O. RR. Co., and also, subject to said mortgage, under the mortgage dated Nov. 1, 1901, securing the Pittsburgh, Lake Erie and West Virginia System refunding bonds of the same company. (See remarks on those mortgages in Sec. 13. ) L. F. Loree, Pres. ; J. V. McNeul, Treas. ; C. W. Woolford, Sec., Baltimore, Md. SANDUSKY, MANSFIELD AND NEW- ARK RR. — Newark to Sandusky, O., 116.25 miles. Capital stock, $1,094,287. Funded debt, $2,300,000. This railroad, by collateral trust of practically all of its stock, about 72 p. c. of its bonds, and other Indebtedness, is covered by anJ included under the mortgage dated Nov. 1, 1898; securing the Pittsburgh Junction and Middle Division bonds of the B. & O. RR. Co., and also, subject to said mortgage, under the mortgage dated Nov. 1, 1901, securing the Pittsburgh, Lake Erie and West Virginia System refunding bonds of the same company. (See remarks on those mortgages in Sec. 13.) L. F. Loree, Pres.; J. V. McNeal, Treas. ; C. W. Woolford, Sec., Balti- more, Mil. •WASHINGTON BRANCH RR Relay Sta- tion, Md., to Washington, D. C., 31 m. ; total track (steol), 76.37 miles. Built under the charter of the Bait. & Wash. RR. Co., granted in Maryland, March 3, 1833. Road opened Aug. 25, 1835. Capital stock. $1,650,000, of which nearly two-thirds ($1,- 028,000) are owned by B. & O. Co., and one-third by the State of Maryland ; only $72,000 held by individuals. The stock owned by the 11. A- o. RR Co. is deposited as collateral security under the mortgage dated July 1, 1898, securing the i>ri'>r lien gold bonds of the B. & O. RR. Co. Net earnings, year ending June 30, 1902, $305,124; taxes and other charges, $18,651 : surplus, $286,- 473. Add surplus to June 30, 1901, $1,196,607. Total surplus, June 30, 1902, $1,483,080. The last divi- dend paid (5 p. c. ) was for the half year ending Sept. 30, 1896. (See Manual for 1899, page 69.) L. F. Loree, Pres.: J. V. McNeal, Treas., Balti- more, Md. Office, Baltimore, Md. WINCHESTER AND POTOMAC RR Harper's Ferry, W. Va., to Winchester, Va., 32 m. ; total track (steel, 28.75 m.), 37.24 miles. Rail, 60 to 72 Ibs. Chartered April 8, 1831 ; road opened in 1836. Leased to B. & O. RR. Co., for 20 years (renewable forever), from July 1, 1867, and operated as part of the Valley Line; rental, $27,000 — applied to Interest on bonds and divi- dends on stock. Dividends payable Jan. 1, 189S. and subsequently are in default, although inter- est on bonds and taxes have been paid regularly. Capital stock, $180,000; bonded debt (1st mtge. refunded and reissued 6 p. c. bonds, due July 1, 1899, $147,150 ; 2d mtge. 5 p. c. bonds, dated Dec. 27, 1882, due July 1, 1913, $85,000). $232,150 — total, $412,150. The B. & O. RR. Co. owns all of thfi bonds and $175,000 of the capital stock. L. F. Loree, Pres. ; J. V. McNeal, Treas. ; C. W. Wool- ford, Sec., Baltimore, Md. Office, Winchester, Va. WINCHESTER AND STRASBURG RR Winchester to Strasburg June., Va., 20.38 m. ; total track, 23.92 miles. Chartered in 1860 ; road opened in 1870. Leased for 17 years from July 1, 1870, to B. & O. RR. Co., and operated as part of the Valley Line. Lease amended and extended for 20 years, from July 1, 1887, renewable forever thereafter. Capital stock ($100 shares), $600,000, of which individuals hold 746 shares, on which the B. & O. RR. Co. guarantees dividend? of 4 p. c. per annum. The remaining 5,254 shares are held by the B. & O. RR. Co. L. F. Loree, Pres. ; C. W. Woolford, Sec. ; J. V. McNeal, Treas., Bal- timore, Md. Office, Winchester, Va. 19b. Operations Not Included in Accounts of B. & 0. RR. Co. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $50,000; funded debt (1st 6s of April 1, 1901), $50,000; current liabilities, $11,941; accrued interest, $750 — total, $112,691. Contra: Cost of road, $55,728 ; profit and loss, $56,963 — total, $112,691. All of the bonds and $49,500 of the stock are owned by the B. & O. RR. Co. CORPORATE OFFICERS. — L. F. Loree, Pres. ; J. Wirt Randall, Vice-Pres. ; C. W. Woolford, Sec. ; J. V. McNeal, Treas. ; J. L. Kirk, Aud., Baltimore, Md. Office, Baltimore, Md. BAY RIDGE AND ANNAPOLIS RR Bay Ridge to Short Line June., Md., 4.5 m. ; total track (steel, 4.5 m.), 5.76 miles. Rail, 70 Ibs. HISTORY. — Chartered Feb. 10, 1886; road opened Aug. 1, 1886. Operated by the B. & O. RR. Co. for account of the owners. OPERATIONS, year ending June 30. 1902. — Gross earnings (passenger), $1,930. Operating expen?e, $2,191 ; interest on bonds, $3,000 ; taxes, $193 — total, $5,384. Deficit, $3,454 ; deficit forward, $53,509— total, $56,963. CLEVELAND, LORAIN AND WHEEL- ING RY — Lorain to Bridgeport, O., 157.6 m. ; Cleveland to Lester, O., 28 m. ; Martins Ferry to Bellaire, O , 6.7 m. — total, 192.3 m. ; 2d track, 4.7 ni. ; total track (steel, 60 to 80 Ibs.). 329.24 miles. HISTORY. — Consolidation, Nov. 23, 1833, of the Cleveland, Lorain and Wheeling RR. Co. with the Cleveland and Southwestern Ry. Co. (See Manual for 1834, page 108.) The company Is controlled by the B. & O. RR. Co. by ownership of about 72 p. c. of the capital stock. The stock thus owned is deposited under the Pittsburgh, Lake Erie and West Virginia System refunding mortgage of the B. 6 O. RR. Co. ROLLING STOCK, June 30, 1902. — Locomotives, 64. Cars — passenger, 20 ; combination, 4 ; bag- gage, mall, and express, 8; freight (box, 440; stock. 50; flat, 553; coal, 3,480), 4.523; service, 90 — total, 4,645. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 412,320; freight, 929,375), 1,341,695 miles. Passengers carried, 484,656 ; car- ried one mile, 12,930,630 ; average mile rate, 1.81 cents Tons freight moved, 4,705,588 ; ton-miles. 445,663,411 ; average ton-mile rate, 0.54 cent. EARNINGS. 1900-1901 1901-1902 Passenger $217.98175 Freight 1,800,401 94 Mall and Express 30,38779 Miscellaneous 14,881 25 $233,816 62 2,411,276 84 32.019 50 16,311 38 Totals $2,063,65273 $2,693,42434 Averages per Mile.... 10.731 42 14,00637 POOR'S MANUAL BALTIMORE AND OHIO SYSTEM. 63 EXPENSES. 1900-1901 1901-1902 Maint. Way & Struct.... $404.81979 $306,45470 Maint. Equipment 242,42968 261,35356 Conducting Transport.... 596,16254 877,22675 General 78,58168 63,67188 Totals $1,321,99369 $1,508,70689 Averages per Mile.... 6,874 64 7,845 59 Net earnings, 1901-02 (43.99 p. c.), $1,184,717.45. Payments : Taxes, $67,150.93 ; interest on funded debt, $337,400 ; on floating debt, $10,946.15 ; other charges, $769,220.37 — total, $1,184,717.45. General Balance Sheet, June 30, 1902. Com. Stock Paid in ($100 shares).... $8,000,000 00 Pref. Stock Paid in ($100 shares).... 5,000,00000 Funded Debt Outstanding 6,843,000 00 Real Estate Mortgages 100,00000 Car Trust Bonds 23,228 00 Current Liabilities 549,79226 Profit and Loss 968,34033 Total Liabilities? $21,484,360 59 Cost of Road $18,915,868 88 Oost of Equipment 1,830,99600 P. & W. Coal Co. Stock 300,000 00 Other Permanent Investments 8,40000 Current Accounts and Balances 429,09571 Total Assets $21,484,360 59 B. & O.'s INTEREST IN COMPANY. — The Bal- timore and Ohio RR. Co. owns $2,699,700 of the preferred stock and $6,670,700 of the common stock, all of which it has deposited under its Pittsburgh, Lake Erie and West Virginia System refunding mortgage. FUNDED DEBT consists of (1) $5,000,000 con- sol. 1st gold 5s of Oct. 1, 1933; (2) $893,000 ($1.000,- 000 auth.) gen. gold 5s of June 1, 1936, and (3) J.950,000 ($10,000,000 auth.) consol. refunding gold 4is of Jan. 1, 1930. The bonds are secured, in the order named, on the entire property of the company. The gen. mtge. bonds may be drawn at 105 and the consol. refunding bonds at 102J, on 30 days' notice. Provision is made for the retirement of all three issues of this company's bonds, in the mortgage securing the Pittsburgh, Lake Erie and West Virginia System refunding bonds of the B. & O. RR. Co. CAR TRUST BONDS. — The car trust bonds are in two series — series A, $10,208 ; series B, $13,020. The total amount issued of series A was $400,000 ; of series B, $109,368. Series A bonds were issued on or about Oct. 1, 1895, and are payable $5,000 monthly ; series B bonds were Issued about Aug. I, 1896, and are payable $1,302 monthly. Series A bonds bear interest at the rate of 5 p. c. per annum, payable Jan. and July. Equipment cov- ered by car trusts consists of 6 locomotives, 950 coal cars and 300 fiat cars. DIRECTORS (elected Oct. 21, 1902). — James A. Blair, New York, N. Y. ; S. T. Everett, J. M. Lessick, J. F. Whitelaw, W. R. Woodford, Cleve- land, O. ; Parks Foster, Elyria, O. ; L. F. Loree, C. W. Woolford, Baltimore, Md. ; J. W. Mc- Clymonds, Massillon, O. Officers : L. F. Loree, Pres., Baltimore, Md. ; J. V. McNeal, Treas. ; C. VV. Woolford, Sec., Baltimore, Md. Office, Cleve- land, O. RAILROAD OPERATED BY C., L. & W. RY. Co. St. Clatrsville and Northern Ry St. Clairsville to Barton, O., 3.6 m. ; total track (steel; 40 Ibs.), 4.0 miles. Locomotive, }; pas- senger car, 1. Chartered June 17, 1879 ; road opened Nov. 1, 1881. Leased for 30 years, April 17, 1882, to the St. Clairsville Co. Operation as- sumed by the Cleveland, Lorain and Wheeling Ry. Co. as of Jan. 1, 1903. The road is owned by the village of St. Clairsville, O., which issued for its construction $30,000 of bonds secured by mortgage on the property and by guaranty of St. Clairsville village. Of these bonds $4,000 are outstanding. 19c. Railroads Owned, Leased or Operated by B. £ 0. RR. Co. — Continued. CLEVELAND TERMINAL AND VALLEY RR — Cleveland, O., to Valley Junction, O., 75.47 m. ; 2d track, 4.48 m. ; total track ( steel, 140.97 m.), 150.86 miles. Gauge, 4 ft. 8J in. Rail, 56 to 75 Ibs. HISTORY. — Chartered Oct. 3, 1895, as successor to the Valley Ry. Co. The mileage of the Sandy- ville and Wayuesburg RR. is not shown above as first track, that line being merely a spur to coal mine. The Pittsburgh, Lake Erie and West Virginia System refunding mortgage of the B. & O. RR. Co. covers this road and the Sandyville and Waynesburg RR., subject to the lien of this company's bonds. General Balance Sheet, June 30, 1902. Com. Stock Paid in ($50 shares).... $5,200,00000 Pref. Stock Paid in ($100 shares).. 2,200,00000 Funded Debt Outstanding 5,515,00000 Car Trust Lease Warrants 192,000 00 Current Liabilities 876,19145 Accrued Liabilities 38,36666 Profit and Loss 201,706 25 Total Liabilities $14,223,264 36 Cost of Road $11,896,762 89 Cost of Equipment 334,362 10 Car Trust Equipment 273,00000 Lands Owned 586,371 99 •Stocks of Other Companies Owned. . 13,605 65 Company Stock in Treasury 723,95000 Current Accounts and Balances 395,21173 Total Assets $14,223,264 36 * Consisting of Cleveland RR. Construction Waynesburg RR. Co. stock, $13,105.65. ROLLING STOCK, June 30, 1902. — Locomotives, 'AO. Cars — passenger, 21 ; baggage, etc., 4 ; freight (flat, 131; coal, 803; other, 2), 936; service, 19 — total, 980. Of the coal cars, 500 are held under car trust. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 292,232; freight, 261,926), 554,158 miles. Passengers carried, 478,159 ; carried one mile, 12,097,320 ; average mile rate, 2.17 cents. Tons freight moved, 2,821,216; moved one mile, 78,775,780 ; average ton-mile rate, 1.13 cents. EARNINGS. 1900-01 1901-02 Passenger $215,598 16 $262.270 47 Freight 835,79726 910,15510 Mail and Express 23,34219 24.71498 Miscellaneous 35,485 70 4,938 08 Totals $1,110.223 31 Averages per mile 14,71079 EXPENSES. 1900-01 Maint Way & Struct $145,37649 Maint. Equipment 139,02320 Tran sportation 405,929 19 General 49,47573 $1.202,078 f,3 15,927 90 1901-02 $143,659 03 116,623 06 452,890 32 33,079 95 Totals $739.80461 $746,25238 Averages per Mile.... 9,802 63 9,888 07 Net earnings, 1901-02 (37.92 p. c.). $455,826.27; rentals received. $16,880 — total. $472,706.27. Pay- ments : Interest on bonds, $231,325 ; on floating debt, $4,624.51 ; taxes. $29,679.64 ; other charges, $207,077.12 — total, $472,706.27. and Equipment Co. stock, $500 ; Sandyville and 64 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. CAPITAL STOCK authorized consists of $5.200,- OUU common stovk and $2.200,000 preferred stock. but $5X4.700 of the common and $139.250 of the i red are in the treanury unsold. The B. & 0. Kit. Co. owns $4.594,300 of the outstanding • .minion stock and $953,750 of the outstanding pn f erred stock, all of which it has deposited under its Pittsburgh, Lake Erie and West Vir- ginia Sy.-t.-in refunding mortgage. FUNDED JiKltT consists of ($6,000,000 auth.) 1st gold -is of Nov. 1, 1995. The bonds are guar- anteed, by endorsement, both as to principal and interest, by the 13. & O. UK. Co. A provision making them subject to redemption at par and Interest on or before May 1, 1904, on 60 days' notice, is stamped on a majority of the bonds. Provision is made for the retirement of the whole i.-.-ni1, in the mortgage securing the Pittsburgh, Lol-e Erie and Wet-t Virginia System refunding bonds of the B. & O. RR. Co. CAIt TRUSTS. — The car trust lease warrants are secured on the 500 gondola cars held under car trusts. They bear interest at the rate of 5 p. c. per annum, and are payable $27,000 each May 1st to 1908, inclusive, and $30,000 on May 1, 1909. DIRECTORS (elected Oct. 21, 1902). — L. F. Loree, Baltimore, Md. ; S. T. Everett, J. H. Mc- Bricle, Calvary Morris, Benjamin Rose, Harvey H. Brown, Robert R. Rhodes, Stewart H. Chis- holm, F. H. Goff, Cleveland, O. Officers: L. F. Loree, Pres. ; Oscar G. Murray, Vice-Pres. ; J. V. McNeal, Treas. ; C. W. Woolford, Sec. ; C. S. Sims, Gen. Mgr. ; J. L. Kirk, Aud., Baltimore, Md. Gen- eral Office, Cleveland, O. OHIO AND LITTLE KANAWHA RR Fair Oaks to West Marietta, O., 72.04 m. ; total track ( steel ; 56 and 60 Ibs. ) , 82.55 miles. HISTORY. — Reorganization, March 1, 1900, of the Zanesvllle and Ohio River Ry. Co. (See Manual for 1900, page 336.) Controlled by the B. & O. RR. Co. by ownership of a majority of both classes of capital stock and covered by that company's Pittsburgh, Lake Erie and West Vir- ginia System refunding mortgage, subject to the lien of $228,000 outstanding 1st ratge. 5 p. c. bonds, due March 1, 1950. Provision is made for the retirement of the bonds in the mortgage securing the Pittsburgh. Lake Erie and West Virginia System refunding bonds of the B. & O. RR. Co. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 115,686; freight, 57,580), 173,266 miles. Passengers- carried, 174,199 ; car- ried one mile, 3,570,493. Tons freight moved, 244,677; ton-miles, 10,463,333. Earnings (passen- ger, $80.131; freight, $98,416; other, $10,171), $188,- 718. Operating expenses, $145,527. Net earnings, $43.191. Payments: Interest on bonds, $11,400; taxes, $7,117 — total, $18,517. Surplus, $24,674 ; sur- plus forward. $28,943; additions during year, $460 — total, $54,077. BALANCE SHEET, June 30, 1902.— Capital stock ($1,000,000 common and $1,250,000 non-cum. 5 p. c. preferred; $100 shares), $2,250,000; funded debt (see above), $250,000; current liabilities, $7.103; profit and loss, $54,078 — total, $2,561,181. Contra : Cost of road, $2,110,028 ; equipment, $216,- 435 ; company's securities in treasury, $186,500 ; current accounts and balances. $48,218 — total, $2.561,181. CORPORATE OFFICERS.— L. F. Loree, Pres. ; J. V. McNeal. Treas. ; C. W. Woolford, Sec., Bal- timore, Md. OHIO RIVER RR — Owned: Benwood Junc- tion to west bank of Guyandotte River, W. Va., 208.6$ m. ; total track (steel ; 56 to 75 Ibs.), 250.43 miles. Leased: H. & B. S. RR. (see appended statement), 10.92 miles. Trackage: Pittsburgh. Wheeling and Kentucky RR., Benwood Junction to Wheeling, W. Va., 4 miles. Total operated, 223.58 mile?. HISTORY. — Chartered April 18, 1881 ; charter amended Dec. 16, 1882 ; road opened throughout in April, 1883. (See Manual for 188S, page 618.) ROLLING STOCK. June 30, 1902. — Locomotives. 35. Cars- — passenger, 38 ; baggage, mall and ex- press, 8; freight (box, 7S1 ; flat, 35; stork, 41; coal. 197). 1,064; service, 67 — total, 1,167. Of this equipment, 400 box cars and 50 coal cars are « overed by equipment trust. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 6.S1.312; freight, 367,915), 1.039,227 miles. Passengers carried, 756,880; car- ried one mile, 24,433,496 ; average mile rate, 2.75 cents. Tons freight moved, 1,017,852; moved one mile, 117,910,701 ; average ton-mile rate, 0.712 cent. EARNINGS. 1900-1901 1901-1902 Passenger $632.75314 $670,746 U* Freight 786,72068 840,10468 Mail and Express 42,36245 45.61871 Miscellaneous 11,82279 1,17591 Totals $1. 473.05ft 06 $1,557,64538 Averages per Mile.... 6,53831 6,97358 EXPENSES. Maint. of Way & Struct. . $314.354 63 $274,773 48 Maint. of Equipment 158,347 74 147,678 80 Conducting Transp 437,46775 454,13825 General Expenses 5S.519 30 43,46555 Totals $968,68942 $920,06608 Averages per Mile.... 4,332 63 4,115 11 Net earnings, 1901-02 (40.93 p. c.), $637,589.30; rents received, $1,507.14 — total, $639,096.44. Pay- ments : Interest on funded debt, $247,050 ; other interest, $5,486.36; taxes, $33,519.04; rentals, $19,- 635 — total, $305,690.40. Surplus, $333,406.04; sur- plus forward, $429,775.27 — total, $763,1S1.31. De- ductions during the year, $324,724.83. Surplus, June 30, 1902, $438,456.48. General Balance Sheet, June 30, 1902. Common Stock ($6,000,000 auth.; $100 shares) $5,915,430 50 Funded Debt Outstanding 4,978,831 00 Current Liabilities 353,39032 Interest Accrued, not Payable 24,50833 Profit and Loss 438,45648 Total Liabilities $11,710,616 63 Cost of Road $10.080,932 39 Cost of Equipment 1,192,524 80 Betterment Account 96,416 30 Current Accounts and Balances 340,74314 Total Assets $11,710,616 63 This company controls the Huntington and Big Sandy RR. Co. by ownership of its entire capital stock and the Ravenswood, Spencer and Glenville RR. Co. and Ripley and Mill Creek Valley RR. Co. by ownership of a majority of their capital stocks. This company Is controlled by the B. & O. RR. Co. by ownership of more than 99 p. c. of Its capital stock. The stock owned by the B. & O. is deposited under that company's Pitts- burgh, Lake Erie and West Virginia System re- funding mortgage. FUNDED DEBT, June 30, 1902. consisted of $2,000,000 1st 5s of June 1, 1936 ; $2.941,000 ($3,000,000 auth.) gen. 5s of April 1, 1937, and $38,541 of which the details nre not reported. The company guar- antees, both as to principal and interest, the bonds of the Huntington and Big Sandy RR. Co., Ravenswood, Spencer and Glcnvi'le RR. Co., and Ripley and Mill Creek Valley RR. Co. In the mortgage securing the Pittsburgh. Lake Erie and West Virginia System refunding bonds of the B. & O. RR. Co., provision is made for the retire- ment of the funded debt of this company and of the companies it controls CORPORATE OFFICERS. — L. F. Loree. Pres. ; Oscar G. Murray, Vice-Pres. ; J. V. McNeal, Treay. ; C. W. Woolford, Sec., Baltimore, Md. Office, Parkersburg, W. Va. POOR'S MANUAL BALTIMORE AND OHIO SYSTEM. 65 RAILBOAD LEASED TO O. R. RR. Co. Hunting-ton and Bis Sandy RR. — Guyan- dotte River to Kenova, W. Va., 10.92 m. ; branches, 3 m. — total, 13.92 miles. Rail (steel), 60 Ibs. Chartered April 12, 1890 ; completed during 1892. Leased Sept. 1, 1892, to the Ohio River RR. Co., which guarantees, by endorsement, principal and interest of the bonds. Capital stock (auth., $200,000), $71,000; funded debt (1st gold 6s of July 1, 1922), $400.000 — total, $471,000. L. F. Loree, Pros. ; Oscar G. Murray, Vlce- Pres. ; J. V. McNaal, Treas. ; C. W. Woolford, Sec., Baltimore, Md. Office, Parkersburg, W. Va. lJ*d. Railroads Owned, Leased or Operated by B. <& O. RR. Co. — Continued. PITTSBURGH JUNCTION RR. — Laughlin Station (B. & O. RR.) to Willow Grove (P. & W. RH.l, Pittsburgh, Pa., 4.47 m. ; 43d St. to 20th St. and 16th St. to 9th St., Pittsburgh, Pa., 2.45 m. — total, 6.92 m. ; 2d track, 4.47 m. ; total track (steel ; 67 and 85 Ibs.), 22.29 miles. The company owns 10 locomotives and 1 transfer barge. HISTORY. — Consolidation, Dec. 21, 1881, of the Pittsburgh Local RR. Co. and the Pittsburgh Junction RR. Co. ; road opened Sept. 1, 1884. This road connects the B. & O. RR. with the Pitts- burgh and Western RR., and under a traffic agreement with those roads (see Manual for 1901, page 62) this company receives $1 per car de.Mvered to or received from them. This com- pany controls the Pitt.sburgh Junction Terminal Co., by ownership of its entire capital stock, and is in turn controlled by the Baltimore and Ohio RR. Co., by ownership of a majority of its capital stock. The Baltimore and Ohio RR. Co. assumed the operation of the property, as agent for the owners, on Jan. 1, 1902. OPERATIONS, year ending June 30, 1902. — Earnings (passenger, $11,048; freight, $447,649; other. $732), $459,429. Operating expenses, $209,- 183. Net earnings, $250,246. Paid interest on bonds, $101,400 ; on floating debt, $12.485 ; taxes, $20,760 — total, $134,645. Net profit, $115,601 ; sur- plus forward, $121,240 — total, $236,841. De- ductions for year, $130,959. Surplus, June 30, 1902, $105,882. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($1,460,000 common and $480,000 pre- ferred; $50 shares), $1,940,000; funded debt (see below), $1,740,000; current liabilities, $224,278.61; profit and loss, $105,881.91 — total, $4,010,160.52. Contra : Cost of road, $3,615,152.96 ; rolling stock, 180,660.35 : stock Pittsburgh Junction Terminal Co., $200,000; Pittsburgh Junction Terminal Co. advances. $29,254.19; current assets, $85,093.02 — total, $4,010,160.52. FUNDED DEBT consists of $1,440,000 1st gold 6s of July 1, 1922, and $300,000 2d gold 5s of July 1. 1922. There are also $500,000 1st gold 5s of Oct. 1, 1907, of the Pittsburgh Junction Terminal Co., guaranteed by this company. All of the preferred stock, about 96.65 p. c. of the common stock* about 33.4 p. c. of the 1st mtge. bonds, 10 p. c. of the 2d mtge. bonds, and 61.2 p. c. of the Pittsburgh Junction Terminal bonds have been acquired by the B. & O. RR. Co. and most of them have been deposited under the mortgage securing that com- pany's Pittsburgh Junction and Middle Division bonds. DIRECTORS (elected Oct., 1902). — W. M. Ken- nedy, Pittsburgh, Pa. ; Johns McCleave, L. G. Haas, Oscar G. Murray, C. W. Woolford, Geo. C. Jenkins, Baltimore, Md. ; Thos. M. King, Phila- delphia, Pa. Officers : L. F. Loree, Pres., Balti- more, Md. ; W. M. Kennedy, Vice-Pres., Pitts- burgh, Pa. ; C. "9V . Woolford, Sec. ; J. V. McNeal, Treas., Baltimore, Md. General Office, Pitts- burgh, Pa. PITTSBURGH AND "WESTERN RR. — Standard gauge (Allegheny to New Castle, Pa., 57.2 m. ; Cal'ery June, to Foxburg, Pa., 44.9 m. ; Ribolds June, to Harmony June., 7.9 m. ; Frisco to Crowthers, Pa., 5.8 m. ; Bennet to Brookfleld, Pa., 3.3 m.), 119.1 m. ; narrow gauge (Foxburg to Mount Jewett, Pa., 91.75 m. ; Kane June, to Kane, Pa., 0.76 m. ; Clarion June, to Clarion, Pa., 6.2 m.), 98.71 m. — total, 217.81 miles. Gauges, 3 ft. and 4 ft. 8J in. Rail (steel), 40 to 100 Ibs. The lease of the narrow gauge division to the Brad- ford, Bordell and Kinzua RR. Co. has been can- celled and the entire road is now operated as part of the Pittsburgh Division of the B. & O. RR. At Allegheny, Pa., the company owns ter- minal yards extending from near Pine Creek to Jack's Run, a distance of about 7 miles, covering almost the entire river frontage of the city. HISTORY. — This company is a reorganization, Jan. 28, 1902, of the Pittsburgh and Western Ry. Co., whose property was sold under foreclosure of the 2d mortgage on Oct. 9, 1901 (see Manual for 1901, page 58 et seq.). The Pittsburgh and Northern RR., 3.3 miles, was absorbed in the re- organization. The company acquired the prop- erty subject to $81,000 1st mtge. bonds of the original P. & W. RR. Co., $219,000 1st mtge. bonds of the Pittsburgh, New Castle and Lake Erie RR. Co. and $9,700,000 1st mtge. bonds of the P. & W. Ry. Co. FINANCIAL STATEMENT. — Capital stock, $13,500,000. Funded debt (in addition to the above prior liens), $3,500,000. The B. & O. RR. Co. owns all of the capital stock and all of the bond* except $83,000 of the P., N. C. & L. E. Ists and $1,634000 P. & W. Ry. Ists, and has deposited the securities it owns under its Pittsburgh, Lake Erie and West Virginia System refunding mort- gage. Provision is made in that mortgage for the retirement of the $1,634,000 outstanding bonds. DIRECTORS (elected Oct. 20, 1902). — L. O. Haas, S. P. Hutchinson, W. M. Kennedy, Henry W. Oliver, Pittsburgh, Pa. ; John E. McVey, Youngstown, O. ; C. W. Woolford, Baltimore, Md. Officers : L. F. Loree, Pres. ; J. V. McNeal, Treas. ; C. W. Woolford, Sec., Baltimore, Md. General Office, Pittsburgh, Pa. RAILROADS LEASED OR CONTROLLED BY P. & W. RR. Co. Ellwood Short Line RR. — North Sewick- ley to Rock Point, Pa. (double track), 3.1 m. ; total track (steel; 60 Ibs.), 7.41 miles. Gauge, 4 ft. 8J in. Organized April 25, 1890 ; road opened Aug. 15, 1891. Leased to the Pittsburgh and Western Ry. Co. for 30 years from Aug. 10, 1891. Purchased by Thomas M. King, Receiver of the Pittsburgh and Western Ry., on May 6, 1898. Capital stock (par, $100), $300,000; funded debt, $300.000 — total, $600,000. The stock is deposited under the mortgage securing the Pittsburgh, Lake Erie and West Virginia System refunding bonds of the B. & O. RR. Co., and provision is made in that mortgage for the retirement of the bonds. L. F. Loree, Pres. ; W. M. Kennedy, Vice-Pres. ; C. W. Woolford, Sec. ; J. V. McNeal, Treas. ; J. L. Kirk. Aud., Baltimore. Md. Triiml.nll and Mahonlngr RR. — Pro- jected : Hazelton Jo Niles, O., 15 m. ; completed, 11.38 m., of which 5.80 in. standard and 5.58 m. narrow gauge. Leased : Pittsburgh, Palnesville and Fairport RR., from Niles to Youngstown, O., 9.5 miles. Chartered in 1887 and the road built in that and succeeding years. The section of the P., P. & F. RR. from Niles to Youngstown la leased in per- 66 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROL'P. petuity and the rental commuted in advance, statement tor P., P. & F. RR.) The com- I'.my owns 40 acres of terminal property in Youngstown, O. Capital .stock, 1600,000; funded debt (1st 6s of Oct. 15. 1917), $360.000. The -capital stock and 1200,000 of the bonds are pledged under the mort- gage securing the Pittsburgh, Lake Erie and West Virginia System refunding bonds of the B. & O. RR. Co., and the remaining $150,000 bonds are pledged under the 1st mortgage of the Pitts- burgh and Western Ry. Co. L. F. Loree, Pres. ; J. V. McNeal, Treat*. ; C. W. Wooiford, Sec., Baltimore, Md. l»e. Railroads Owned, Leased or Operated by B. <£ 0. RR. Co. — Continued. PITTSBURGH, CLEVELAND AND TO- LEDO RR. — New Castle June.. Pa., to Akrou June.. O., 77.1 m. ; total track (steel; 60 Ibs.), 113.29 miles. HISTORY. — Organized June 6, 1882; road opened March 1. 1884. Leased to the P. & W. Ry. Co. fur 99 years from July 15, 1884. the lessee guaranteeing the payment of interest on the bonds. This guaranty has been assumed by the B. A O. RK. Co. under an agreement requiring the P. £ W. Ry. Co. to pay to the Central Trust Co. of New York $12,000 a month an account of rental, default to entail a forfeiture of the lease, etc., to the B. & O. RR. Co. (See Manual for 1900. page 63.) ROLLING STOCK, June 30, 1902. — Locomotives. 19. Ca*s — passenger, 12 ; combination, 4 ; bag- gage, etc., 3: freight (box, 202; coal, 555; flat, 39), 796; service, 6 — total, 821. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 259,569; freight, 757,844), 1,017,413 miles. Passengers carried, 227,462; car- ried one mile, 11,278,445. Tons freight moved, 6,632,043; moved one mile, 337,787,872. Earnings (passenger, $127,076.07; freight, $1,407,809.82; other, $31,746.25), $1,566,632.14. Operating ex- penses, $1,041,396.19. Net earnings (rental), $525.236.95. Payments: Taxes, $19,505; interest on bonds, $144,000; other interest, $43,859.17; other, $50 — total, $207,414.17. Surplus. $317,822.78; surplus forward, $167,044.52 — total, $484,867.30. Deductions for year, $332,007.08. Surplus June 30. 1902, $152,860.22. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $3,000,000; funded debt, $4,000,- 000; equipment trust, $158,384.12; current liabili- ties, $749.121.12; accrued interest, $36,000; profit and loss, $152,860.22 — total, $8,096,365.46. Contra: Cost of road and equipment, $6,214,654.33 ; trust equipment, $280,059.25 ; treasury bonds, $1,600,000 ; other assets, $1,651.88 — total, $8,096,365.46. FUNDED DEBT, June 30, 1902, consisted of $2.400,000 outstanding 1st 6s of Oct. 1, 1922, and $1,600,000 1st consol. 4Js of Aug. 1, 1945, in the treasury unsold (see Manual for 1901, page 61). Tho B. & O. RR. Co. owns $1,505,000 of the capital stock and has deposited It under the mortgage securing its Pittsburgh, Lake Erie and West Virginia System refunding bonds. Provision was made in that mortgage for the retirement of the 72.400,000 outstanding 1st mtge. bonds, which the B. & O. had the privilege of purchasing at 125 and accrued interest. This privilege was ex- ercised on Feb. 1. 1903. CORPORATE OFF ICERS. — L. F. Loree. Free. ; C. W. Wooiford, Sec. ; J. V. McNeal. Treas., Baltimore, Md. Office, Youngstown, O. PITTSUI RGH, PAINESVILLE AND PAIRPORT RR. — Fairport, O., to Niles, O., 53 m.. total track (steel; 60 Ibs.), 83.78 miles, HISTORY. — Successor to the Painesville and Youngstown Ry. Co., whose property was sold under foreclosure June 3, 1886. The road from Fairport to Niles was broadened to standard gauge, and leased to the P. & W. RR. Co., Oct. I, 1886, the lease providing for the payment of the Interest on the 1st mtge. bonds. The rest of the line is leased to the Trumbull and Mahonlne RR. Co., statement for which see. ROLLING STOCK, June 30, 1902. — Locomotives. II. Cars — passenger, 1 ; freight (coal and coke), 1.005. OPERATIONS, year ending June 30, 1902.— Earnings (passenger. $13.588.91; freight. $477,- 727.85; other, $6.478.58), $497,795.34. Operating ex- penses, $366,103.89. Net earnings (rental), $131.- 691.45. Payments : Interest on bonds, $62,500 ; on real estate mortgages, $300 ; on floating debt, $6,606.50; taxes, $16,000 — total, $85,406.50. Surplus, $46,284.95; surplus forward, $24,140.47 — total, $70.- 425.42. Deductions for year, $64,782.37. Surplus June 30. 1902, $5,643.05. BALANCE SHEET. June 30, 1902. — Capital stock — common, $)sOO,000 ; preferred. $250,000; funded debt, $1,250,000 ; floating debt. $818,057. M : profit and loss, $5,643.05 — total, $3,123,700.86. Contra: Cost of road, $3,066,711.76; other assets. $56,989.10— total, $3,123,700.86. FUNDED DEBT consists of $1,000,000 1st 5s of July 1, 1916, and $250,000 terminal 5s of July 1, 1916. The B. & O. RR. Co. owns all the common Block. $219,300 of the preferred stock. $940.000 ot the 1st mtge. bonds and all the terminal bonds, and has pledged them under its Pittsburgh, Lake Erie and West Virginia System refunding mort- gage. CORPORATE OFFICERS. — L. F. Loree, Pres. ; C. W. Wooiford, Sec. ; J. V. McNeal, Treas.. Bal- timore, Md. General Office, Youngstown, Ohio. RAVE3VSWOOD, SPEXCER AND GLEK- VILLE RY. — Ravenswood, W. Va., to Spencer, W. Va., 32.5 m. ; total track ( steel ; 60 Ibs. ) , 34.73 miles. HISTORY. — Chartered April 10, 1886; road opened throughout on Jan. 4, 1892. ROLLING STOCK, June 30, 1902. — Locomotives, 2. Cars — combination, 1; freight (box, 5; coal, 10), 15 — total, 16. OPERATIONS, year ending June 30, 1902— Train? run (mixed), 41,841 miles. Passengera carried, 30,401 ; carried one mile, 543,807. Tons freight moved, 42,429 ; ton-miles, 1,037,184. Earn- ings ( passenger, $17,768 ; freight, $34,970 ; other, $4,274), $57,012. Operating expenses, $45,629. Net earnings, $11,383. Payments : Interest on bonds, $22,560; taxes, $3,043 — total, $25,603. Deficit, $14,- 220 ; deficit forward, $75,172 ; deductions for year, $164— total, $89,556. GENERAL BALANCE SHEET, June 30, 1902. — Capital stock paid in ($250,000 auth. ; $25 shares), $237,375; funded debt (1st 6s of Aug. 1, 1920), $376,000; current liabilities, $94,783; Interest accrued, not due, $9,400 — total, $717.558. Contra : Cost of road, $601,681 ; equipment, $25,848 ; cur- rent assets, $473 ; profit and loss, $89,556 — total, $717,558. A majority of the capital stock is deposited under the Pittsburgh, Lake Erie and West Vir- ginia System refunding mortgage of the B. & O. RR. Co., and provision is made in that mort- gage for the retirement of this company's bonds. The bonds are guaranteed, both principal and interest, by the Ohio River RR. Co. CORPORATE OFFICERS.— L. F. Loree, Pres. ; Oscar G. Murray, Vice-Pres. ; J. V. McNeal, Treas. ; C. W. Wooiford, Sec., Baltimore, Md. Office, Parkersburg, W. Va. RIPLEY AND MILL CREEK VALLEY RR. — Milwood Junction to Ripley, Jackson C. H., W. Va., 13 in.; total track (steel; 45 Ibs.), 13.90 miles. Locomotive, 1 ; no cars. HISTORY. — Organized April 17, 1886; road opened throughout Oct. 1, 1888. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 3,470; freight, 16,256), 19,726 miles. Passengers carried, 15,683 ; carried one mile, 147.921. Tons freight moved, 43,665; ton-miles, 574,713. Earnings (passenger, $6,266; freight. $23,287 ; other. $1,416) ; $30,969. Operating expenses, $17,766. Net earnings, $13,203, Pay- ments : Interest on bonds, $3,000 ; taxes, $636 — total, $3,696. Surplus, $9,507; surplus forward. POOR'S MANUAL — BALTIMORE AND OHIO SYSTEM. 67 143,667 — total, $53,174. Deductions during the year, $175. Surplus, June 30, 1902, 152,999. GENERAL BALANCE SHEET, June 30, 1902. — Capital stock paid in ($100,000 auth. ; $25 shares), $97,810; funded debt (1st 6s of Aug. 1, 1908), $50,000 ; current liabilities, $469 ; interest accrued, not due, $1,250; profit and loss, $52,999 — total, $202,558. Contra : Cost of road, $153,266 ; equip- ment, $3,000 ; current assets, $46,292 — total, $202,- 558. A majority of the capital stock is deposited under the Pittsburgh, Lake Erie and West Vir- ginia System refunding mortgage of the B. & O. RR. Co. and provision is made in that mortgage for the retirement of this company's bonds. The bonds are guaranteed, both principal and inter- est, by the Ohio River RR. Co. CORPORATE OFFICERS. — L. F. Loree, Pres. ; Oscar G. Murray, Vice-Pres. ; J. V. McNeal, Treas. ; C. W. Woolford, Sec., Baltimore, Md. Office, Parkersburg, W. Va. VALLEY RR Harrisonburg, Va., to Lex- ington, Va. (including 1 mile of trackage), 62 m. ; total track (steel, 63.66 m.), 69.27 miles. HISTORY. — Chartered Feb. 23, 1866; road com- pleted to Lexington in 1883 (see Manual for 1893, page 650). ROLLING STOCK. — Company owns 3 locomo- thes: rest of equipment supplied by the B. & O. RR. Co. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 78,180; freight, 44,476), 122,656 miles. Passengers carried, 82,319; car- ried one mile, 1,544,730 ; average mile rate, 3.34 cents. Tons freight moved, 194,835 ; moved one mile, 5,310,700 ; average ton-mile rate, 1.47 cents. Earnings ( passenger, $51,613 ; freight, $77,789; other, $7,553), $136,955. Operating ex- penses, $100,223. Net earnings, $36,732 ; other re- ceipts, $449 — total, $37,181. Deductions: Interest on bonds, $45,000; taxes, $6,34C — total, $51,346. Deficit. $14,165 ; deficit forward, $456,2'i9 ; additions for year, $10,&71— total, $481,305. GENERAL BALANCE SHEET, June 30, 1902. — Capital stock paid in ($3,200,000 auth.; $100 shares), $2,712,200; funded debt (1st 6s of Oct. 1, 1921), $750,000; current liabilities, $388,564; sub- scription to stock for which no certificates were Issued, $31,175— total, $3,881,939. Contra : Cost of road, $3.348,942 ; equipment, $20,554 ; real estate, etc., $4,124 ; bonds owned, $25,000 ; current assets, $2,014 ; profit and loss, $481,305 — total, $3,881,939. B. & O.'s INTEREST IN COMPANY. — The Baltimore and Ohio RR. Co. owns $1,020,000 of the capital stock and the entire $750,000 of bonds. The authorized issue of bonds is $1,000,000. DIRECTORS (elected Oct., 1902). — Wm. R. Allen, Fincastle, Va. ; W. A. Anderson, Lexing- ton, Va. , R. W. Burke, Staunton, Va. ; A. Leo Knott, Thos. J. Shryock, L. F. Loree, H. G. Vickery, Baltimore, Md. Officers: L. F. Loree, Pres. ; C. W. Woolford, Sec. ; J. V. McNeal, Treas. ; J. L. Kirk, Aud., Baltimore, Md. Office, Staunton, Va. J. H. Schiff....New York, N. Y. John K. Cowen. .Baltimore, Md. Ed. R. Bacon.. New York, N. Y. S. M. Prevost, Philadelphia, Pa. B. H. Harriman.New York.N.Y. Jas. McCrea Pittsburgh, Pa. James Speyer..New York, N. Y. Chas. Steel " 2O. Board of Directors, B. d 0. RR. Co., elected November 18, 1902. On part of Stockholders: Samuel Rea. ..Philadelphia, Pa. John P. Green Norman B. Ream.. Chicago, 111. Jas. Stlllman..New York, N. Y. On part of State of Maryland (Wash. Br.) : L. Victor Baughman Baltimore, Md. | Arthur P. Gorman Laurel, Md. L. F. LOREE, President Baltimore, Md. Oscar G. Murray, 1st V ice-President Hugh L. Bond, Jr., 2d V ice-President Geo. L. Potter, 3d V ice-President C. S. Sims, General Manager Secretary — C. W. Woolford Baltimore, Md. I Comptroller — H. D. Bulkley Baltimore, Md. Treasurer — J. V. McNeal Baltimore, Md. | Asst. Compt.— Geo. W. Booth Baltimore, Md. PRINCIPAL OFFICE AND ADDRESS Central Building, Baltimore, Md. BALTIMORE AND OHIO SYSTEM.— Controlled Roads Operated by Their Own Organizations. SHARPSVILLE RE. — Sharpsville, Pa., to Wilmington Junction, Pa., 17 m.: branch at Sharpsville, Pa., 0.75 m. — total, 17.75 m.; total track (steel 14.65 m.), 21 miles. Gauge, 4 ft. '8% in. Rail, 56 and 60 Ibs. History.— Chartered March 6, 1876; road opened in 1877. Placed in the hands of a receiver on Jan. 20, 1897. Controlled by the Baltimore and Ohio RR. Co.. by ownership of a majority of the capital stock. Rolling Stock, June 30, 1902. — Locomotives, 3. Combination car, 1. Operations, year ending June 30, 1902. — Trains run (mixed), 26,350 miles. Pas- sengers carried, 8,492; carried one mile, 55,198. Tons freight moved, 116,136; moved one mile, 1,891,780. Earnings (passenger, $2,972; freight, $20,324; other, $32,519), $55,- 815; other receipts, $7— total, $55,822. Operating expenses, $49,876. Net earnings, $5,- 946. Payments: Interest on debt, $22,278-; taxes, $1,712— total, $23,990. Deficit, $18,- 044; deficit forward, $60,735; other charges, $15— total, $78,794. General Balance Sheet, June 30, 1902.— Capital stock ($50 shares), $350,- 000: current liabilities, $199,385.56— total, $549,385.56. Contra: Cost of road, $422,- 590.24; equipment, $26,856.19; cash and current assets, $20,721.79; sundries, $423.62; profit and loss, $78,793.72 — total, $549,385.56. Directors.— A. W. Black, W. M. Kennedy, J. W. Renner, E. B. Taylor, Pitts- burgh, Pa., G. M. Mcllvain, J. J. Pierce, Sharpsville, Pa.; C. W. Woolford, Baltimore, Md. OFFICERS: G. M. MclLVAiN, Receiver d 8upt., Sharpsville, Pa.; L. F. LOREE, Pres.; 68 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. W. M. Kennedy, Vice-Prea.; C. W. Woolford, 8cv.; J. V. McNeal, Trcas., Baltimore, Md. GENERAL OFFICE, Shurpsville, Pa. 8TATEN ISLAND RAPID TRANSIT RY.— Elizabethport, N. J., to South Beach, N. Y., 10.87 m.; 2d track, 9.58 m.; total track (steel; 70 Ibs.), 33.40 miles. Gauge, 4 ft. 8»/z in. History. — Chartered July 31, 1899, as successor to the Staten Island Rapid Transit RR. Co., whom property was sold under foreclosure on April 20, 1899. The company took over the property for operation on An--;. 31, 1899. The company owns one-half interest in The Kapid Transit Ferry Co., operating the ferries between the Battery and Staten Island. The Baltimore and Ohio 11R. Co. owns 99.64 p. c. ($498,200) of the capital stock of the company. Rolling Stock, June 30, 1902. — bocomotives, 28. Cars — passenger, 88; freight, (box, 5; flat, 8). 13; caboose, 2— total, 103. Operations, year, ending June 30, 1902. — Train mileage — passenger, 323,040; freight, 67,942; other, 128,517— total, 519,499 miles. Passengers carried, 4,071,099; carried one mile, 16,202,974; average mile rate, 1.1255 cents. Tons freight moved, 1,598,888; moved one mile, 9,913,105; average ton-mile rate, 3.304 cents. Earnings — passenger, $203,420; freight, $327,021; mail and express, $4,469; miscellaneous, $47,679— total, ($53,644 per mile), $583,195. Operating expenses — maintenance of way, $58,578; maintenance of equipment, $57,552; transportation, $188,330; general, $17,647 — total, ($29,725 per mile), $322,107. Net earnings (44.77 p. c.), $261,088. Deductions: Interest on bonds, $160,000; interest on debt, $17,396; taxes, $24,800— total, $202,196. Surplus, $58,892; surplus forward, $79,137 — total, $138,029. Deductions, $5,347. Surplus, June 30, 1902, $132,682. ' Statement of earnings, expenses, and fixed charges for seven years ending June 30 : Gross Receipts. . Operating Ex p. . 1896 1897 S 1898 $ ]899 $ 1900 * 1901 S 1902 $ 764.455.65 648,315.91 680,286.21 693,596.94 557,731.77 519,368.83 583,195.00 416,543.48 392,323.75 375,653.67 401,858.71 284,761.12 278,234.37 322,107.00 Net Earnings 347,912.17 255,992.16 304,63254 291,738.23 272,970.65 241,134.46 261.088.C Int.. Rents&Taxes. 321,467.13 328,448.14 327,242.35 354,569.o2 217,798.18 203,622.38 202.196.C Balance, Surplus. 26,445.04 d. 72,455.98 d. 22,579.81 d. 62,831.29 55,172.47 37,512.08 58,892.00 General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $500,- 000; funded debt (2d 4s of July 1, 1904, int. J. & J.), $2,500,000; real estate mort- gages, $162,000; current liabilities, $543,257.84; accrued interest, $65,900.69; coupons unpaid, $1,460; accrued taxes, $19,224.07; profit and loss, $132,682.68 — total, $3,924,- 525.28. Contra: Cost of road, $2,511,165; equipment, $182,095; securities of other companies, $460,003.05; materials and supplies, $49,963.37; current accounts, $686,785.26; cash, $34,513.60— total, $3,924,525.28. There are outstanding $1,000,000 6 p. c. 30-yr. 1st mtge. gold bonds of Oct. 1, 1913, of the old S. I. R. T. RR. Co. which are a prior lien on the property; but they are not a debt of the present company, nor is it liable for them either as to principal or interest. The 2d mtge. bonds are guaranteed as to interest by the Baltimore and Ohio RR. Co. and that company has the option of purchasing them at any time on 30 days' notice at par and accrued interest. Directors. — L- P. Loree, C. W. Woolford, C. S. Sims, Baltimore, Md. ; Vernon H. Brown, K. P. Emmons, Louis L. Stanton, W. H. Force, Lyman McCarty, P. H. Cassidy, New York, N. Y. OFFICERS: L. F. LOREE, Pres., Baltimore, Md. ; C. S. Sims, Vice- Pres., Baltimore, Md.; C. W. Woolford, Sec.; J. V. McNeal, Trees., Baltimore, Md.; S. P. Kretzer, Asst. 8$c.; Edward Curry, Asst. Treas., New York, N. Y. GENERAL OFFICE, Foot of Whitehall St., New York, N. Y. STATEN ISLAND RY.— Tottenville to Clifton, N. Y., 12.65 m. ; 2d track, 10.02 m.; total track (steel; 56 Ibs.), 23.35 miles. Gauge, 4 ft. 8^ in. History. — Successor, in April, 1873, to the S. I. RR. Co., whose property was sold under foreclosure in Sept., 1872. Leased, July 31, 1884, to the Staten Island Rapid Transit RR. Co., but that company failing to keep its agreements under the lease, the operation of the road was resumed by this company on July 14, 1899. The Baltimore and Ohio RR. Co. owns more than 54 p. c. ($569,850) of the capital stock of this company. Rolling Stock, June 30, 1902. — Locomotives, 4. Cars — passenger, 13; freight (box, 2; flat, 4), 6; caboose, 1 — total, 20. Also, 3 ferryboats. Operations, year ending June 30, 1902. — Trains run (passenger, 164,205; freight, 7,980; other, 3,300), 175,485 miles. Passengers carried, 1,446,448; carried one mile,. Railroad Map of New York. American Bank Note Company 78 TO 86 TRINITY PLACE [CA NEW YORK MMKNOTE NEWYORK11] AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT ;f) WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS Poor's Manual— Railroad Map of the United States, 1903. * T I — "8CSak\ ^L^J^-2ssSs=?7n*K;Tp=?f^W>*flln ^Tr-N^-iy I •%*.>•(, ^)/>R^GU * • * • B1tBr\ Wurorap JM (ffW\>^W/Z&*& Ifc > ,„ A ./ NEW YORK. ^rrs-^S'^flpS "1 V'lM Ljoitetr^V g™*»0raLA ft Haven Jry Rue wi«uiui.»vi i •*- y • f^ -^viMi«*-rt^»^ rv* * « "& v>^L>^^?^ J-^Xj/^^^"8^ :4^^i^4^ Railroad Map of New York. POOR'S BUREAU OF Information and Investigation, Conducted in connection -with and as an adjunct to Poor's Manual of Railroads, WILL FUKNI8H rPON ORDER Detailed information relative to new or projected Railroads, Analyses of Railroad and other reports, Statistics of Steam, Electric, Cable and Horse Railways, Advance information relative to Railroad reports, etc. ; or will make Full and comprehensive investigations into Railroad mortgages, bonds, leases or other contracts. In a word, we propose to furnish information of any character coming within the scope of this Bureau, but not contained in or within the province of our three annual publica- tions, viz.: POOR'S MANUAL, OF RAILROADS, POOR'S HAND-BOOK ON INVESTMENT SECURITIES, POOR'S DIRECTORY OF RAILWAY OFFICIALS and MANUAL OF AMERICAN STREET RAILWAYS. Subscribers to any of the above-named works may address their inquiries to us, and a prompt reply will be mailed at a cost based upon the length of time occupied on the work. Special attention will be given to the preparation of Historical Statements of existing or defunct corporations ; to investigations into the value of old railroad bonds, and to the preparation of statistical exhibits designed to show the value of railroad securities. Besides this, investigations will be made at any time through official channels into the status of new projects, and reports made thereon. Proceedings in foreclosure or reorganization will be carefully followed, and all facts relating to such proceedings noted for reference. It is believed that the establishment of this Bureau will prove of great benefit to t subscribers for our annual publications, as it will enable them at a nominal cost to avail of our unequalled facilities for the collection of news items relative to Railroad Invest- ments or projects, besides securing the privilege of access to our Library, which contains all reports and documents issued during the past half century. Annual subscribers to this Bureau may call for whatever information they desire daring the period of their subscription. Terms upon application. Address JOHN P. MEANY, Manager, 68 William Street, New York, N. Y. POOR'S MANUAL OF RAILROADS. 69 12,989,103. Tons freight moved, 33,703; ton-miles, 310,067. Earnings (passenger, $130,- 116; freight, $11,343; other, $26,411), $167,870. Operating expenses, $156,476. Net earn- ings, $11,394; other receipts, $22,770 — total, $34,164. Payments: Interest on bonds, $22,995; taxes, $11,544— total, $34,538. Deficit, $374; surplus forward, $14,188; addi- tions during year, $2,861; surplus June 30, 1902, $16,675. General Balance Sheet, June 30, 1902. — Capital stock ($75 shares), $1,050,000; funded debt (1st 4y»s of June 1, 1943), $511.000; current liabilities, $37,185; accrued liabilities, $1,916; profit and loss, $16,675— total, $1,616,776. Contra: Cost of property, $1,536,708; cash and current assets, $80,068 — total, $1,616,776. Directors. — L. F. Loree, C. W. Woolford, C. S. Sims, Baltimore, Md. ; George F. Randolph, Lester W. Clark, P. H. Cassidy, P. H. Marshall, H. K. S. Williams, New York, N. Y.; Wm. King, Perth Amboy, N. J. OFFICERS: L. F. LOREE, Pres., Baltimore, Md. ; George F. Randolph, Vice-Prcs., New York, N. Y. ; C. W. Woolford, Sec., Baltimore, Md. ; Edward Curry, Treas. & Asst. Sec.; C. S. Sims, Gen. Mgr., Baltimore, Md. ; George J. Brown, And., New York, N. Y. GENERAL OFFICE, Foot of Whitehall St., New York, N.Y. BUFFALO, ROCHESTER AND PITTSBURGH RAILWAY COMPANY. (For map of this system, see page 71.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock, Description of 10 Guaranteed Bonds and Stocks 12 Profit and Loss Account 8 Directors and Officers 15 History 5 Proprietary and Leased Rail- Earnings, etc., 1901 & 1902 7 Income Account, year 1901-02. 7 roads, Statements of 14 Earnings, etc., 1896-1902 3 Mileage Operated, June 30, Proprietary Interests 2 Funded Debt, Details of 11 1902 1 Rolling Stock, Details of 6 General Balance Sheet 9 Operations, Property, and Trackage Rentals 4 General Balances, 1896-1902. . 3 General Balances, 1896-1902. 3 1. Mileage Operated, June 30, 1902.— LINES OWNED (total, 284.29 .miles). Buffalo Division: Buffalo Creek, N. Y., to Howard Junction, Pa 80.80 milea. Johnsonburg and Bradford RR.: Howard Junction to Mt. Jewett, Pa 19.60 Pittsburgh Division : Clarion Junction to Lindsey, Pa 60.43 Rochester Division : Rochester to Ashford, N. Y 93.70 Charlotte Branch: Lincoln Park to Charlotte, N. Y 10.30 Silver Springs Branch: Silver Lake Junction to Silver Springs, N. Y 1.03 Coal Mine Branches: Beechtree Mine. 5.97 m. ; Eleanora Mine, 5.65 m. ; Adrian Mine, 4.83 m. ; Walston Mine, 1.98 m. ; total 18.43 O. LEASED LINES (total, 87.45 miles). Clearfield & Mahoning Ry. : Du Bois Junction to Clearfield, Pa 25.87 Mahoning Valley RR. : Stanley to Helvetia, Pa 1.89 Allegheny and Western Ry. : Lindsey to Butler, Pa 59.57 Allegheny Terminal Ry. : Allegheny City, Pa 0.12 D. TRACKAGE RIGHTS (total 100.34 miles). Erie RR. : Mt. Jewett to Clarion Junction, Pa 20.76 Buffalo Creek RR. : Buffalo to Buffalo Creek, N. Y 1.92 Pennsylvania RR. : East Buffalo to Buffalo Creek, N. Y 1.96 A . Y. C. & H. R. RR.: Buffalo to East Buffalo, N. Y 1.09 N. Y. C. & H. R. RR.: Beech Creek Junction to Clearfield, Pa 0.47 Baltimore rf Ohio RR.: Butler to Allegheny City, Pa 40.90 Baltimore d Ohio RR.: Ribold Junction to New Castle, Pa 33.24 Total length of all lines operated, June 30, 1902. Statement of track mileage, June 30, 1902: 472.08 miles. Lines Owned . . . Leased Lines Trackage Rights . Totals. First Track Miles 284.29 87.45 100.34 472.08 Second Track Miles 17.00 74.33 91.33 Side Track Miles 165.16 35.16 200.32 Total Track Miles 46645 122.61 174.67 Steel Rail Miles 122.61 174.67 753.73 Gauge, 4 ft. Sy2 in. Rail — iron (10 miles, in sidings, owned), 54 IDS; steel, 60 to 100 Ibs. 70 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. i2. Proprietary Interests.— The Johnsonburg and Bradford RR. is wholly owned by the Buffalo, Rochester and Pittsburgh Ry. Co., although a nominal corporate exist- ence is maintained for it (see statement in Sec. 14). All of its stock and bonds are deposited in trust as part of the security for the B., R. 4, P. Ry. Co. general mortgage bonds. The Buffalo, Rochester and Pittsburgh Ry. Co. owns all the capital stock of the Rochester and Pittsburgh Coal and Iron Co., and through such ownership control* the Jefferson and Clearfleld Coal and Iron Co. Statements for the coal and iron com- panies will be found elsewhere in the MANUAL (see GENEBAL INDEX — MISCELLANEOUS CORPORATIONS). 3. Statement of operations, mileage, equipment and general balances for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles Road Operated (aver. ) 339.66 338.66 335.95 337.68 405.16 472.08 472.08 Passenger Train Mileage 530,017 537.351 547,026 541.083 744.250 962,471 917.336 Freight Train Mileage 1.748,367 1,653,582 1,894,566 1,884,650 2,150.625 2,127856 2,352,747 Mixed Train Mileage 16,666 11,884 7.2% 7512 9018 31,028 43.412 Total llevenue Train Mileage.. . . 2,295,050 742,102 2,202,817 714,827 2,448,888 733,208 2.433,245 772.871 2.903.893 901.425 3,121,355 1,002,677 3,313.495 1,052,308 Passenger! Carried One Mile 16,055.899 15.374,634 16,255,160 17 095.220 23,454,594 34,360,229 41512,964 Tons Freight Moved 3,775,504 4,373,188 5.874,173 6.247 910 6,641 744 6 771,047 6,934,359 Tons Moved One Mile 542,557063 575,169.465 734,471,656 770,285.887 904,350,661 875,637 083 1.015,032,236 Earnings — Passenger I 346,078 $ 328,540 347.869 $ 357807 8 493.518 i 711,232 844,816 Freight 2.595.678 2,764.589 3,104411 3,178,442 4,215276 4,783,954 5,127179 Other . . . 200,132 218,637 231.310 252,208 283,353 308.507 320,589 Gross Traffic Earnings 3,141,888 3,311,766 3683.590 3,788.457 4,992,147 5.803,693 6292,584 Operating Expenses 2 200,716 2,253,454 2366.415 2,441 394 2,888,610 3.277,177 3,632,005 Net Traffic Earnings 941,172 1,058,312 1.317,175 1347,063 2,103.537 2,526.516 2,660.579 Other Receipts ... 37,888 35,510 22,514 13,512 19988 26,926 20,662 Net Income 979060 1,093,822 1,339,690 1,360,575 2123.525 2.553,442 2,681241 Payments — Interest 649761 645.482 670,231 668,441 683.321 710.158 731.472 Rentals 127460 120,665 121,981 127964 303,114 473.726 476,251 Taxes. 63,642 76.704 62,303 70.500 102.000 102,000 102.000 120,000 120000 240,000 360000 360.000 120000 240000 Other 20.553 20,084 132,854 103.719 160406 81.976 130.815 Balance (-)- or — ) 4 117. 644 4230,887 +232,321 4-269,951 -f 634,684 +705,582 4034,703 Gross Earnings per Mile 9.250.01 9,779.02 10,964.70 11.208.45 12321.29 12,293.88 13,329.49 Operating Ex|>enses per Milp 647917 6,654.03 7,043.93 7.223.06 7.129.55 6.941.99 7,693.62 Net Earnings per Mile Expenses to Earnings 2,770.84 70 05 p. c. 3124.99 69.05 p.c. 3,920.75 64.24 p. c. 3,985.39 64. 44 p.c. 5.191.87 57.84 p.c. 5.351.89 56.47 p. c. 5,635.87 57. 72 p.c. Aver. Rate per Pass, per Mile . . . 2 18 c. 2.16c. 2.16c. 2.12c. 2.12c. 2.07 c. 2.035 c. Aver. Rate per Ton per Mile 047c. 0.48 c. 0.42c. 0.41 c. 0.47 c. 0.55 c. 0505c. Miles Road Owned 28570 284.70 281.99 28372 284.29 284.29 284.29 Miles Track Owned 40598 412.62 419.74 432.70 436.64 453.49 46645 Miles Steel Rail Owned 28570 284.70 394.74 417.70 426.64 443.49 456.45 Ijocomotives. 138 132 142 164 162 177 185 Passenger and Baggage Cars Freight and Other Cars 54 7439 .53 7300 53 7509 53 8018 67 9,158 79 10,359 79 11,119 Capital Stock . . $ 12000000 S 12000000 I 12000000 1 1' 000 000 1 12000000 $ 12000000 S 12000.000 Funded Debt Accrued Liabilities 10,968 500 137677 ll'S27,500 135640 12,080,000 136847 12,071,000 136772 12,462,000 100525 13,336.000 167.475 13,882.000 216.832 Current Liabilities 1 3'S 927 552709 449 7K> 324060 693,024 712,632 740,190 Insurance Fund. 77.117 Profit and Loss 185428 416 315 588 636 858587 I 184,563 1 389867 1 303,349 Total Liabilities 24620532 24,932,164 25,264 199 25,390.419 26.500,112 27.605.974 (79,488 Road and Equipment 20983 100 21 087 970 21 760 606 22 121 755 22 449 0% 23 441.848 24,038.328 Proprietary Roads. . 1 503 775 1 511 820 1 517 949 1 519 391 1 519 391 1,519,391 924,212 Investment. R. A P.C. 4 I. Co Insurance Fund Assets 1.003,671 1,003,671 1.003.671 1,003,671 1,003,671 1,003671 1.003.071 77.117 Materials on Hand 245814 297889 332024 355553 410 873 546862 609,633 Cash and Current Assets 884 112 1030814 649949 390049 1 117081 1,094.202 1,026,527 Total Asset* 24,620532 24 932 164 25264 199 25 390 419 26500 112 27 605 974 28,279,488 &&S MAP OF THE . BUFFALO, ROCHESTER AND PITTSBTJRG RAILWAY. n 72 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC OHOUP. 4. Trackage Rentals.— For the use of the line from Butler to New Castle the company pays a yearly rental equivalent to 5 per cent, on one-half the cost tin-rent', besides a wheelage proportion of the cost of maintenance and operation ; and for the use of the line from Ribold Junction to Allegheny City it pays a fixed rate per car. For the use of the tracks of the Erie RR. between Mount Jewett and Clarion Junction the company pays a yearly rental of $30,169.43, besides a wheelage proportion of the cost of maintenance and operation. 5. History.— Consolidation, March 11, 1887, of the Buffalo, Rochester and Pitts- burgh RR. Co. and the Pittsburgh and State Line RR. Co., corporations chartered respectively in New York and in Pennsylvania, in pursuance of the plan for the reorgani- zation of the original Rochester and Pittsburgh Ry. Co. A sketch of the history of the system, brought down to the date of the consolidation, is in the MANUAL for 1887, on pages 125 and 126, and in subsequent editions later developments are recorded. Indiana Branch. — By a circular, dated July 23, 1902, the stockholders were advised that, for the purpose of reaching coal lands which have been acquired and are being developed in the interest of the Rochester and Pittsburgh Coal and Iron Co. and of the Jefferson and Clearfield Coal and Iron Co., the board of directors had resolved to issue, at par, $1,300,000 additional common capital stock. The proceeds of $800,000 of this stock will be used to pay for the construction of a branch 28 miles long from a point on the main line near Punxsutawney to Ernest, Indiana County, Pa., leaving $500,- 000 for future extensions. Since then it has been thought advisable to further extend the system, about 34.6 miles, to reach coal lands near Vintondale, Pa., controlled by the Lackawanna Steel Co. of Buffalo. Of this additional extension, 16.6 miles, to Black Lick Station on the Indiana Branch of the Pennsylvania RR., are to be constructed by this company, at an estimated cost of $560,000; and an agreement has been entered into with the Pennsylvania RR. Co. for trackage over the remaining 18 miles, from Black Lick to Vintondale. It is expected that the branch will be completed in 1903. Contract for Use of Beech Creek Extension. — By a traffic contract entered into in 1902, and to endure for 25 years, this company has the right to use the Beech Creek Extension RR. of the New York Central System as another outlet for the interchange of traffic of all kinds with the Reading System. The Beech Creek Extension is a line of easy grades from Clearfield via Keating, Pa., to a connection with the Philadelphia and Reading Ry. 6. Rolling Stock, June 30, 1902. — Locomotives, 185. Cars — passenger, 58; cafe, 2; chair, 2; baggage, 14; milk, 3; freight (box, 1,741; stock, 8; refrigerator, 5; flat, 328; gondola, 8,669), 10,751; service, 368— total, 11,198. Of this equipment, 60 locomotives, 18 passenger coaches, 4 baggage cars, 150 box cars, 100 coke cars, 4,450 gondola cars and 50 ballast cars are covered by car trust, while 36 locomotives, 12 passenger cars, and 1,395 freight cars are leased. 7. General Income Account, year ending June 30, 1902. KarBlBgs— Passenger $844,81596 Freight 5,127,179 33 Mail and Express 68,05088 Miscellaneous 252,53764 Total ($13,329.49 per mile) $6,292,583 81 Expenses— Maint. of Way and Struct.. $534,642 06 Maintenance of Equipment. 835,267 00 Conducting Transportation. 2,121,874 12 General Expenses 140,221 54 Total ($7,693.62 per mile) $3,632,00472 Net 'earnings (42.28 p. c.), $2,660,579.09; other receipts, $20,662.31— total. $2.681,- 241.40. Payments: Interest on bonds (mortgage bonds,* $552,461.66; debenture bonds, $45,000; real estate mortgages, $15.241.60; car trusts, $24,141.68; equipment trusts, $94.627.50), $731,472.44; rentals accrued, $476,250.90; interest on balances, etc., $259.27; taxes, $102,000; equipment agreement, sinking fund (series A, $25,000; series B, $50,000; series C, $21,993.82). $98,993.82— total, $1,406,976.43. Net income, $1,274,264.97. I)e- •Thls item Includes interest on three issues of R. & P. RR bonds, on the gen. mtge. bonds of the B.. R. & P. Ry. and on the bonds of the Perry RR. and of the Lincoln Park £ Charlotte RR. POOR'S MANUAL BUFFALO, ROCHESTER AND PITTSBURGH SYSTEM. 73 ductions: Extraordinary expenses and improvements, $39,561.75; special appropriations for construction and equipment (including $128,000 car trust bonds paid off during the year), $544,000— total, $583,561.75. Surplus of income, $690,703.22. 8. Profit and Loss Account, June 30, 1902.— Credit : Surplus to June 30, 1901, $1,389,866.95; surplus of income for year, $690,703.22; dividend on $4,000,000 II. & P. C. & I. Co. stock, $100,000; premium on sale of $20,000 gen. mtge. bonds, $3,050 — total, $2,183,620.17. Debit: Dividends on preferred stock, Nos. 15 and 16 (6 p. c.), $360,000; dividends on common stock, Nos. 2 and 3 (4 p. c.), $240,000; construction disbursements in excess of special appropriations for the year, $220,271.43; surplus June 30, 1902, $1,363,348.74— total, $2,183,620.17. 9. General Balance Cost of Road $17,872,795 27 Cost of Rolling Stock 6,765,532 66 Cost of Johnsonburg & Bradford RR. 924,211 C6 Advances to Clear. & Mahoning Ry... 14,958 57 Advances on Indiana Branch Pending Issue of Securities 98,250 95 Stock R. & P. Coal and Iron Co 1,003,670 50 Assets In Insurance Fund 77,117 28 Materials and Fuel on Hand 609,632 78 Due by Agents and Conductors 531,125 67 Bills Receivable 47,00000 Due from Individuals and Companies 249,491 75 Unexpired Insurance 11,92528 Cash 73,77528 Sheet, June 30, 1902. Common Stock ($100 Shares) Preferred Stock ($100 Shares) Funded Debt Outstanding (Sec. 11).. Advances by Leased Roads Insurance Fund Interest Accrued, not yet Payable — Sinking Funds Accrued, not due Rentals Accrued, not due Accrued Taxes Pay Rolls and Vouchers due in July. Due to Individuals and Companies.. Profit and LOSJ (Surplus) $6,000,000 00 6,000,000 00 13,882,000 00 28,427 96 77,117 28 146,087 42 31,340 45 25,852 15 13,551 93 666,424 05 45,337 67 1,363,348 74 Total Assets $23,279,487 65 Total Liabilities $28,279,487 65 10. Capital Stock. — The authorized capital stock is $15,000,000 in $100 shares, $6,000,000 of it being preferred stock and $9,000,000 of it common stock. As shown by the general balance sheet, all the preferred and $6,000,000 of the common stock were outstanding on June 30, 1902. On July 1, 1902, $1,000,000 common stock was issued in exchange for the convertible debenture bonds (see Sec. 11), and between that date and March 1, 1903, $1,300,000 additional common stock was Issued to provide for the construction of the Indiana Branch (see Sec. 5), so that the amount of common stock now outstanding is $8,300,000. Preferred stock has priority over common stock for non-cumnlative dividends up to the rate of 6 p. c. per annum, out of the net earnings of each calendar year, and after 6 p. c. on both classes of stock shall have been paid for any such year, further dividends shall be for the equal benefit of both common and preferred stock. 11. Funded Debt. — The funded debt outstanding on June 30, 1902 — total, $13,882,000, as per general balance sheet — consisted of the several issues of bonds listed in the following statement Additional particulars respecting any issue will be found in the paragraph relating thereto sub- joined to the statement : $1,300,000 R. & P. RR. 1st gold 6s of Feb. 1, 1921. 5,000 R. & P. RR. 2d income 6s of Feb. 1. 1921. 3,917,000 R. & P. RR. consol. 6s of Dec. 1, 1922. 4.427,000 B. R. & P. Ry. gen. 5s of Sept. 1, 1937. 1,000,000 Debenture 4s, retired July 1, 1902. 405,000 Car Trust 5s, payable 1902 to 1908. $500,000 Equip Series A gold 4Js of May 1, 1919. 1,000,000 Equip. Series B gold 4*s of May 1, 1920. 674,000 Equip. Series C gold 4|s of May 1, 1921. 304,000 Real Estate 5s of various dates. 350,000 L. P. & C. 1st gold 5s of Jan. 1, 1939. First Mortgage Gold Bonds, R. & P. Ry. — Secured on the line from Rochester to Salamanca, N. Y., 108.41 miles. Second Mtge. Bonds, R. & P. Ry. — Secured on the same property as the 1st mtge. bonds, but subject In lien thereto. The total amount of bonds Is $1,870,000, of which the company holds $1,000 and the trustee $1,864,000. The lot held by the trustee was exchanged for consol. mtge. bonds, and further consol. mtge. bonds amounting to $3,000 are held for the $5,000 outstanding bonds and the $1,000 held by the company. Consol. Mtge. Gold Bonds. — Limited in Issue to $20,000 per mile of completed road. The mileage of the company would permit the issuing of $5,220,000, but bonds amounting to $1,300,000 are reserved for the retirement of $1,300,000 1st mtge. bonds, and $3,000 for the retirement of $6,000 2d mtge. income bonds outstanding on the Rochester Division. General Mortgage Gold Bonds. — Secured upon the entire property of the company and by deposit of stock of R. & P. Coal & Iron Co. and stock and bonds of Johnsonburg £ Bradford RR. Co. Total amount authorized, $10,000,000 ; of which bonds amounting to $1,300,000 are reserved for the retirement of R. & P. 1st mtge. bonds, due in 1921, and $3,920,000, for the retirement of consol. mtge. bonds, due in 1922 — a total of $5,220,000 of gen. mtge. bonds reserved to retire prior bonds. The remaining $353,000 of gen. mtge. bonds (Nos. 9,648 to 10,000) are held to provide means for building a line from Mt. Jewett to Johnsonburg, Pa. The bonds reserved for the retirement of prior liens can be certified by the trust company, and issued only as an equal amount of the bonds to bo retired are cancelled and delivered to the Union Trust Co. The present outstanding car trusts were created later than the date of the general mortgage, and are not provided for In that mortgage. Debenture Bonds. — In 1897 debenture bonds to the amount of $3,000,000 were authorized, for the purpose of paying loans for construction and equipment, and to provide for similar requirements In the future. The $1,000,000 listed in the preceding statement were issued as of Jan. 1, 1897, and were to mature on Jan. 1, 1947. Originally the rate of Interest was 6 p. c. per annum, but It was reduced to 5 p. c. per annum as from Jan. 1, 1901, and to 4 p. c. per annum as from Jan. 1, 1902, provision being made in connection with the last reduction for the conversion of the debentures into common stock at par. The conversion was made on July 1, 1902, and the $1,000,000 debentures were cancelled. The remaining $2,000,000, if issued, will bear interest at the rate of 4 p. c. per POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. annum, and will be convertible Into common stock at par. Or the company may redeem them on any Jan 1 or July 1. upon twelve weeks' notice, at 1021 p. c. and accrued Interest. It Is provided that the debenture bonds shall be secured by any subsequent mortgage except If made for the pur- pose of retiring existing prior liens or of providing for extensions Gar Trutt Certificates. — These are In five series as follows: No. 10. $47,000, balance of $470.- 000 Issued June 1. 1892. payable June 1. 19O2 ; No. 11, $44,000, balance of $225,000 Issued March 1 1894 payable $22.000 yearly to March 1, 1904 ; No. 12. $80,000, balance of $200,000 issued March i 1895. payable $20,000 yearly to March 1. 1905; No. 13, $72,000. balance of $114,000 issued June 1, 1897, payable $12,000 yearly to June 1, 1907 ; and No. 14, $162,000, balance of $270 000 issued Dec. 1, 1897, payable $27,000 yearly to Dec. 1, 1907. Interest payable June 1 and Dec. 1, by A. Iselin & Co., 36 Wall St., New York, N. Y. Principal and Interest payable in gold. Equipment Bonds, Series A. — Secured on 500 wooden and 150 steel coal cars. There is a sink- ing fund of 6 p. c. per annum, payable May 1, to be invested in bonds of this series if they can be purchased at or under par, otherwise in the purchase of additional equipment as a further security for the bonds. All bonds purchased are to be immediately cancelled. Equipment Bonds, Series B. — The bonds are secured on equipment of a value of 10 p. c. in excess of the amount of bonds issued. There is a sinking fund of 5 p. c. per annum, payable May 1. for the purchase for cancellation of bonds of this series if they can be bought at or under par and accrued interest, otherwise for the purchase of additional equipment as a further security for the bonds outstanding. Equipment Bonds, Series C. — Secured on equipment of a value 10 p. c. In excess of the amount of bonds issued. Authorized issue, $1,000,000. There is provision for a sinking fund equal to 5 p. c. per annum on the bonds issued, to be paid over to the trustee on the 1st of each Nov. and to be invested in bonds of this series at or under par ; otherwise this fund, or any unused balance, is to be applied to the purchase of rolling stock to be pledged as additional security for the bonds outstanding. Lincoln Park and Charlotte Bonds. — Secured by first mortgage on the Lincoln Park and Char- lotte RR., 10.3 miles. Principal and interest guaranteed by the B., R. & P. Ry. Co. 12. Guaranteed Bondn and Stocks. — The company guarantees by endorsement the pay- ment of the principal and interest of $2.000,000 ($2,500,000 auth.) 1st mtge. 4 p. c. gold bonds of the Allegheny and Western Ry. Co., and of $650,000 1st mtge. 5 p. c. bonds of the Clearfleld and Mahoning Ry. Co., besides guaranteeing the payment of dividends at the rate of 6 p. c. per annum on $3,000,000 ($3,500,000 auth.) capital stock of the Allegheny and Western Ry. Co. and on $750,000 capital stock of the Clearfleld and Maboning Ry. Co. 14. PROPRIETARY AND LEASED RAILROADS OF THE B., R. & P. RY. Co. ALLEGHENY AND WESTERN RY.— Lindsey to Butler, Pa., 59.57 m. ; total track (steel ; 70 and 100 Ibs.), 73.46 miles. ROUTING STOCK. — Locomotives, 25. Cars — passenger, 8 ; baggage, etc., 4 ; freight, 996. HISTORY. — Consolidation, Jan. 22, 1898, of the Jefferson and Allegheny Ry. Co. and the Alle- gheny and Western Ry. Co. (See Manual for 1S9!», page 91.) The road was completed Sept. 4, 1899. and was taken over for operation by the B., R & P. Ry. Co. on Jan. 1, 1900, under a lease for the full term of its corporate existence. The lessee guarantees the bonds, both as to principal and interest, and guarantees dividends on the stock at the rate of 6 p. c. per annum, such dividends being payable on the 1st of Jan. and July, in gold, free of all taxes, at the office of the B., R. & P. Ry. Co., in New York, N. Y. The guaranty is endorsed on each bond and on the face of each stock certificate. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($3,500,000 auth.; $100 shares), $3.000,000; funded debt (1st 4s of Oct. 1. 1998). $2,000,000; accounts, $20,000 — total, $5;020,000. Contra : Cost of road, $3,835,571 ; equipment, $972,- 194 ; cost, Allegheny Terminal, $163,807 ; accounts, $48,428 — total, $5,020,000. FUNDED DEBT. — The authorized Issue of bonds is $2,500,000, of which $500,000 can be issued only for the construction of a line from Butler to New Castle. CORPORATE OFFICERS. — C. H. McCauley, Pres., Ridgway, Pa. ; Arthur O. Yates, Vice- Pres., Rochester, N. Y. ; John G. Whltraore, Sec., Ridgway, Pa. ; C. O'D. Iselin, Treas., New York, N. Y. ; John F. Dinkey, Asst. Treas. & Aud., Rochester, N. Y. Offices, Rochester, N. Y., and Ridgway. Pa. ALLEGHENY TERMINAL RY. — In city of Allegheny, Pa., 0.12 m. ; total track (steel; 70 Ibs.), 0.24 mile. HISTORY. — Chartered July 28, 1899; road opened Sept. 4, 1899. Operated by the B., R. & P. Ry. Co. FINANCIAL STATEMENT. — Capital stock (owned by the Allegheny and Western Ry. Co.), $150,000; unfunded debt. $13,807 — total, represent- ing cost of road, etc., $163,807. CORPORATE OFFICERS. — C. H. McCauley, Pres., Ridgway, Pa. ; John F. Dinkey, Treas. & Aud., Rochester, N. Y. ; J. N. Atwell, Jr., Sec.. Ridgway, Pa. Offices, Rochester, N. Y., and Ridgway, Pa. CLEARFIELD AND MAHONING RY Du Bois June., to Clearfleld, Pa., 25.87 m. ; total track (steel ; 60, 70 and 80 Ibs.), 41.55 miles. Lo- comotives, 10. HISTORY. — Chartered May 31, 1892. Built un- der an agreement dated May 10, 1892, between the B., R. & P., the P. & R. and the N. Y. C. & H. R. RR. Cos. Completed in May, 1893 ; opened June 30, 1893. Leased in perpetuity, Jan. 3, 1893, to the B., R. & P. Ry. Co., the lessee guarantee ing the bonds, principal and interest, and also C p. c. per annum on stock, all payments to be made in gold. The guaranty is endorsed on the bonds and on the stock certificates. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $750.000; funded debt (1st 5s of Jan. 1, 1943), $650,000; unfunded debt. $14,959 — total, representing cost of road, etc., $1,411,959. CORPORATE OFFICERS. — Jeremiah .M. Grosh, Pres. ; John G. Whitmore, Sec., Ridgway, Pa. ; John F. Dinkey, Treas., Rochester, N. Y. Offices, Rochester, N. Y., and Ridgway, Pa. JOHNSONBDRG AND BRADFORD RR. — Howard June, to Mt. Jewett, Pa., 19.6 m. ; total track (steel ; 60, 70, and 80 Ibs.), 27.43 miles. HISTORY. — Chartered Nov. 15, 1887; opened June 1, 1893. Owned by the B., R. & P. Ry. Co. BALANCE SHEET, June 30, 1902. — Capital stock, $420,000; funded debt (1st 40- yr. 5s of 1934), $420,000; unfunded debt, $84,212 — total, represent- ing cost of road, etc., $924,212. The stock and the bonds are deposited as collateral to the gen. mtge. bonds of the B., R. & P. Ry. Co. CORPORATE OFFICERS. — C. H. McCauley, Pres. ; John G. Whitmore, Sec., Ridgway, Pa. ; John F. Dinkey, Aud. & Treas., Rochester, N. Y. Offices. Rochester, N. Y., and Ridgway. Pa. MAHONING VALLEY RR Helvetia to Stanley, Pa., 1.89 m. ; total track (steel ; 60 Ibs.), 3.40 miles. HISTORY. — Chartered Oct. 14. 1890; road opened Jan. 15, 1891. Leased in perpetuity, May 1, 1S96, to the Buffalo, Rochester and Pitts. Ry. Co., at an annual rental of $15,000. ROLLING STOCK. — Locomotive, 1. Cars — freight (box, 2; coal, 397), 399. INCOME ACCOUNT. — Rental, year ending POOR'S MANUAL CENTRAL NEW ENGLAND RY. CO. 75 June 30, 1902, $15,000 ; expenses and taxes, $13,135 ; net income, $1,865. Paid dividends (4 p. c.). $1,- 865. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $45,000; accounts, $218,915; profit and loss, $2,500 — total, $266,415. Contra: Cost of road, etc., $259,152; accounts, $7,263 — total, $266,415. CORPORATE OFFICERS. — C. H. McCauley, Pres. ; John G. Whitmore, Sec.. Ridgway, Pa. ; John F. Dinkey, Treas., Rochester, N. Y. Offices, Rochester, N. Y., and Ridgway, Pa. 15. Board of Directors, B., R. d P. Ry. Co., elected 'November 17, 1902. A. Iselin. Jr... New York, N. Y. W. G. Oakman. Aug. Richard. . " J. H. Hocart... Oscar Geisch...New York, N. Y. H. I. Barbey.. W. E. Roosevelt " Ernest Iselin.. " " W.H.Peckham.New York, N. Y. J. K. Todd.... C. O'D. Iselin.. J. L. Riker.... Arthur G. Yates Rochester, N. Y. AKTHUB G. YATES, President Rochester, N. Y. Adrian Iselin, Jr., V ice-President New York, N. Y. Sec,dAsst.Treas. — J. H. Hocart.. New York, N. Y. Treax. & Aud. — John F. Dinkey.. Rochester, N. Y. PRINCIPAL OFFICE AND ADDRESS Rochester, N. Y. Financial Office 36 Wall St., New York, N. Y. CENTRAL NEW ENGLAND RAILWAY CO. 1. Line Of Road Owned.— Campbell Hall, N. Y., to Silver Nails, N. Y . 57.60 milea. LEASED/ Hartford and Conn. Western RR. (see appended statement) 109.75 " LINES : \ Dutchess County RR. : Poughkeepsie to Hopewell June., N. Y 12.40 " TRACKAGE: Xewburgh, Dutchess d Conn. RR.: Conn. Line to Millerton, N.Y. 125.00 " Total length of lines operated (including Poughkeepsie Bridge) 181.00 miles. 2d track, 4.60 m.; sidings (owned, 15.80 m.), 43.33 miles. Gauge, 4 ft. 8% in. Rail (steel), 80 Ibs. 2. History. — Chartered Jan. 12, 1899, as successor to the Philadelphia, Reading and New England RR. Co., and took possession of the property on Jan. 23, 1899. (See MANUAL for 1899, page 731.) 3. Rolling Stock, June 30, 1902. — Locomotives, 35. Cars — passenger, 23; baggage, mail, and express, 11; freight (box, 122; flat, 25; stock, 1; coal, 210), 358; service cars, 29— total cars, 421. 4. Operations, year ending June 30, 1902. — Train mileage — passenger, 317,881 ; freight, 153,174; mixed, 51,075; other, 119,158 — total, 644,288 miles. Passengers car- ried, 590,569; carried one mile, 8,574,297; average mile rate, 2.43 cents. Tons freight moved, 323,112; moved one mile, 21,767,935; average ton-mile rate, 1.45 cents. EARNINGS. 1900-01 1901-02 EXPENSES. 1900-01 1901-02 Maint. Way & Structures. . .$148,463 52 $125,470 02 Passenger $205,969 00 $208,136 51 Freight 439,776 65 Mail and Express 30,99671 Miscellaneous 26,31628 Totals $703,058 64 Averages por Mile 3,88430 315,559 61 31,558 63 28,582 80 $583,837 55 3,167 00 Maintenance of Equipment. . 90,132 77 Conducting Transportation.. 259,914 54 60,003 33 216,300 11 General Expenses. 36,59251 34,47599 Totals .. ...$535,10334 $436.24945 Averages per Mile 2,956 37 2,366 42 Net earnings, 1901-02 (25.28 p. c.), $147,588.10; other receipts, $10,127.88— total, $157,715.98. Payments: Interest on funded debt, $32,500; other interest, $350; taxes, $41,550.68; rentals (leased lines), $78,289— total, $152,689.68. Surplus, $5,026.30; sur- plus forward, $55,108.60— total, $60,134.90. 5. General Balance Sheet, June 30, 1902. Cost of Road $12,426,20641 Cost of Equipment Stock? of Other Companies Materials and Supplies Betterments, H. & C. W. RR Construction, H. & C. W. RR Current Accounts Cash on Hand 366,612 SO 900,063 00 50,246 31 417,390 90 386,721 94 82,571 49 39,218 96 Common Stock ($100 shares) $3.450.00000 Preferred Stock ($100 shares) 3.150,00000 Funded Debt Outstanding 7,900,000 00 Loans and Bills Payable 7,000 00 Current Liabilities 77,02334 Accrued Interest 13,641 65 Accrued Rentals 11,331 42 Profit and Loss 60,134 90 Total Assets $14,669,031 31 Total Liabilities $14,669,031 31 «. Capital Stork. — A majority of the capital stock, consisting of $2,605,000 common stock and $700,000 preferred stock, is to be held in a voting trust for ten years, or until interest of 4 p. c. per annum is paid on the gen. mtge. bonds for two successive years, or until those bonds are made to bear a flxeo>rate of interest. The preferred stock is entitled to non-cumulative dividends at the rate of 4 p. c. per annum before any dividend can be paid on common stock. 76 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. 1st gold 5s of Feb. 1, 1019. The authorized issue is $1,250,000, but $600,000 of the 7. Funded Debt — The funded debt outstanding on June 30, 1902 — total, $7,900,000 as per general balance sheet — consisted of the following issues : f7,2BO.OOO gtn. gold 5s of Feb. 1, 1949. The general mortgage is a second lien on the prop- erties covered by the first mortgage. Interest "ii the bonds is payable only if earned, but it Is provided that a fixed rate of interest may be established at the option of the company, with the consent of the voting trustees during the continuance of the voting trust, and thereafter with the consent of the holders of a majority of the bonds. The mortgage may be increased to $8,500,000. but if so. the additional $1.250.000 must remain with the trustees, to be issued only on surrender of 1st mtge. bonds. the voting trustees, during the continuance of the voting trust, and thereafter only for the ac- quisition of new property. The bonds are re- deemable at any time after Feb. 1, 1904, at 106 I-. < . and accrued interest. The mortgage secur- ing them is a prior lien upon all the property of the company, and has the additional security of the leases and stock of subsidiary lines and the securities of lines constructed from the proceeds of bonds secured by the same mortgage. 8. RAILROADS LEASED BY THE CENTRAL NEW ENGLAND RY. Co. DUTCHESS COUNTY HR — Poughkeepsie to Hopewell June., N. Y., 12.4 in. ; total track (steel ; 60 to 70 Ibs.), 13.49 miles. HISTORY. — Chartered April 19, 1890; road opened May 8. 1892. Leased to the Central New England Hy. Co. at a rental of $100 per annum, the interest on the bonds at the rate of 4J p. c. per annum and taxes. £ FINANCIAL STATEMENT. — Capital stock ($100 shares), $300,000. Funded debt (1st cold 4Js of June 1, 1910, int. J. & D., $350,000. Cost of road and equipment, $660,000. CORPORATE OFFICERS. — John V/. Brock, Pres. ; Clyde A. Heller, Sec. & Treas., Philadel- phia, Pa. Office, 255 Main St., Poughkeepsie, N. Y. HARTFORD AND CONNECTICUT WESTERN RR. — Hartford, Conn., to Rhine- cliff, N. Y., 109.75 m. ; Tariffvllle, Conn., to Mit- tineague, Mass., 14.35 m. — total, 124.10 m. ; total track (steel, 124.10 m.), 146.06 miles. Rail, 60 ttnd 85 Ibs. HISTORY. — Chartered March 31. 1881. as suc- cessor to the Connecticut Western RR. Co., whose property had been in the hands of the State Treasurer as trustee since April 27, 1S80. (See Manual for 1890, page 30.) Leased to the Central New England Ry. Co. for a period ending Aug. 30, 1940, at a yearly rental of the interest on the bonds and 2 p. c. on capital stock. INCOME ACCOUNT. — Rental, year ending June 30, 1902, $62,439. Payments: Interest on bond.3, $35,000; dividends (2 p. c.), $26,394; taxes. $1,045 — total, $62,439. BALANCE SHEET, June 30, 1902.— Capital stock, $2,712,800; funded debt (1st 5s of July 1, 1903), $700,000; convertible bonds, $7,200; un- funded debt, $406,441 — total, $3,826,411. Contra: Cost of road, etc., $3.686,922; all other assets. $139.519— total, $3,826,441. The " convertible bonds " represent the amount of the Connecticut Western bonds which have not yet been converted into the stock of the Hartford and Connecticut Western RR. Co. CORPORATE OFFICERS. — J. H. Appleton. Pres., Springfield, Mass. ; Edward R. Beardsley, Sec. & Treas., Hartford, Conn. Office, Hartford, Conn. Arthur Brock Lebanon, Pa. H. O. Seixas..New York, N. Y. C. W. Chapln.. C. A. Heller... Philadelphia, Pa. J. F. Sinnott. J. W. Brock.. " " 9. Board of Directors, Central New England Ry. Co., elected November 5. 1902. D. A. Geraty. .Hartford, Conn. J.K.O.Sherwood..New York.N.Y. J.H. Appleton . Springfield, Mass. James A. Rumrill Springfield, Mass. | Joseph B. Bourne New York, N. Y. CHESTER W. CHAPIN, President Philadelphia, Pa. Arthur Brock, V ice-President " " Treasurer — J. K. O. Sherwood. .New York, N. Y. I Auditor— «. W. Watson Hartford, Conn. Secretary — Clyde A. Heller Philadelphia, Pa. | Gen. Manager — D. A. Geraty Superintendent — J. F. Hedden.. Hartford, Conn. PRINCIPAL OFFICE AND ADDRESS Poughkeepsie, N. Y. THE DELAWARE AND HUDSON COMPANY. INDEX TO THIS STATEMENT — RFFKRFNCKS TO NOMBERS OF SECTIONS. Capital Stock, Reduction of. 11 Coal Business 3 Depreciation Sinking Fund.. 4 Financial Operations 16 Funded Debt, Details of 12 Gen. Bal. Sheet. Dec. 31, 1902. 13 Gen. Balance Sheet, 1900-1902 10 Guaranteed Bonds 14 History \ Income Acct., Dec. 31, 1902. . . 6 Income from Coal and Sales Departments, Dec. 31, 1902 9 Leased and Proprietary Rail- roads, Statements of 17 Managers and Officers 18 Mileage Operated 2 Operations and Income (all railroads operated), Dec. 31. 1902 6, 7 Operations, etc., 1900-1902.... 10 Operations of the Railroad Divisions of the System. Dec. 31, 1902 7 Profit and Loss Account 8 Rolling Stock, Details of 5 Sinking Fund for Retirement of Securities 4 1. History.— The Delaware and Hudson Canal Co. was chartered by the New York legislature, April 23, 1823, to construct a .canal from the coal fields of Pennsylvania to the Hudson River at Rondout, N. Y. The canal, extending from Honesdale to Rondout, was completed in Oct., 1828. The Gravity Railroad was completed in 1829. On April 28, 1899, by authority of an act of the Legislature, the present name was adopted, the com- pany being authorized at the same time to sell the canal and to purchase its, own securi- ties for sinking fund purposes. The canal was sold in June, 1899. The Gravity Railroad POOR'S MANUAL THE DELAWARE AND HUDSON COMPANY. 77 \vas broadened to standard gauge, made an ordinary steam railroad, and opened for regular passenger and freight business in Feb., 1900. The Adirondack Ry., from Sara- toga to North Creek, N. Y., 56.97 miles, was formally absorbed by this company on Nov. 5, 1902. Its statistics are included in this statement for the six months ending Dec. 31, 1902. Terms of Leases. — The Delaware and Hudson Co. leases the Albany and Susquehanna RR., the Rensselaer and Saratoga RR. and the New York and Canada RR. under the terms given in the respective statements therefor (see Sec. 17). The Delaware and Hudson Co. also leases the Rome and Clinton RR. and the Utica, Clinton and Binghamton RR., but they are sublet to the New York, Ontario and Western Ry. Co., for the term of 35 years from June 1, 1886, at a minimum rental of $70,000 per annum. 2. Railroads Operated, Dec. 31, 1902.— A. LINES OWNED (total, 78.64 miles). Schenectady and M echanicsville RR. : East Glenville to Coons, N. Y 9.93 miles. Lackawanna and Susquehanna RR.: Nineveh, N. Y., to Jefferson June., Pa. 22.01 " Valley RR. : Carbondale to Scranton, Pa 16.77 " Honesdale Branch: Lookout Junction to Honesdale, Pa 28.13 " Branches and Spurs to Collieries 1.80 " B. LEASED AND PROPRIETARY LINES (total, 599.76 miles). Albany and Susquehanna RR.: Albany to Binghamton, N. Y 142.59 " Cherry Valley, Sharon and Albany RR.: Cobleskill Jc. to Cherry Val., N. Y. 21.04 " Schenectady and Duanesburgh RR. : Duanesburgh Jc. to Schenectady, N. Y. 13.79 " New York and Canada RR. (for details see statement in Sec. 17) 151.08 " Rensselaer and Saratoga RR. (for details see statement in Sec. 17) 136.02 " Albany and Vermont RR.: Albany to Waterford Junction, N. Y 12.18 " Glens Falls RR. : Fort Edward to Caldwell, N. Y 15.12 " Rutland and Whitehall RR.: New York State Line to Castleton, Vt 6.83 " Adirondack Ry. : Saratoga to North Creek, N. Y 56.97 Saratoga and Schenectady RR.: Saratoga to Schenectady, N. Y 21.65 " Northern Coal and Iron Co.: Green Ridge to Mill Creek, Pa 16.76 " Scranton Branch: Carbon St. to Lackawanna Ave., Scranton 0.51 Wilkes Barre Section: Mill Creek to Wilkes Barre, Pa 3.19 Plymouth Section : South Wilkes Barre to Plymouth, Pa 2.03 C. TRACKAGE RIGHTS (total, 39.40 miles). Jefferson RR.: Jefferson Junction to Carbondale, Pa. 34.60 Nanticoke RR. : Mill Creek to Wilkes Barre, Pa 2.40 Lehigh Valley RR.: Wilkes Barre to South Wilkes Barre, Pa 1.62 Lackawanna and Bloomsburg RR.: Plymouth to Bull Run, Pa 0.78 Total length of lines owned, leased and operated 717.80 miles. The following statement shows the track mileage of the system on Dec. 31, 1902: Single Second Third Fourth Sidings, Total Steel Track Track Track Track etc. Track Rails Pennsylvania Division 130.60 76.00 10.57 8.03 131.53 356.73 228.85 Susquehanna Division 187.35 95.96 105.03 388.34 283.31 Saratoga Division 248.77 78.10 128.20 465.07 326.87 Champlain Division 151.08 43.52 194.60 151.08 Totals... . 717.80 250.06 10.57 8.03 408.28 1,394.74 990.11 Gauge, 4 ft. 8y2 in. Rail, 44, 46, 56, 62, 66, 68, and 80 Ibs. 3. Coal Business, — The chief business of the company is the mining and transpor- tation of coal. The amount of coal owned and controlled by it on Jan. 1, 1902, was estimated at 224,856,352 tons. The total output of anthracite coal in 1902 wan 31,200,890 tons. This company produced 3,127,097.15 tons, of which 2,898,138.12 tons were from it.-t own property, and 229,559.03 tons from the property of the Hudson Coal Co., which it controls. The amount of anthracite coal transported over the railroad lines owned and controlled by the company, during the year ending Dec. 31, 1902, was 4,640,772 tons. 78 POOR'S MANUAL OF RAILROADS — MIDDLK ATLANTIC GROUP. 4. Depreciation Sinking Fund.— There is a sinking fund, created in 1899, for the gradual retirement of the stock and bonds of the company contemporaneously with the mining and sale of its coal ; a sum not less than 5 cents per ton of coal mined to be charged against the yearly net profits and applied to the retirement of the securities or stock of the company. t>. Rolling Stock, all divisions, Dec. 31, 1902.— Locomotives (freight, 211; passenger, 80; switching, 61), 352. Cars — passenger train (1st class, 231; 2d class, 13; combina- tion, 32; dining, 1; baggage, mail, and express, 95; other, 8), 380; freight, (box, 4,037; stock, 976; flat, 131; coal, 8,391; refrigerator, 27), 13,562; service (officers and pay, 5; gravel, 27; derrick, 10; caboose, 146; other, 17), 205— total cars, 14,147. The fol- lowing is a statement of the rolling stock by operating divisions of the system: Loco- motives # *& Si0 «fi §>' Is Passenger Train Cars is GQW «& Id u 1 Fright Cars # *X SQ vg a •- |s Service Car, 00° *> cQ &Q I* Freight Passenger. . Switching. . Totals. . . . 116 21 24 37 44 20 58 15 17 1st Class . . 2d Class.. . . Comb 35 3 7 21 8 152 10 19 60 1 44 "e 14 Box 2,904 124 870 6,467 25 '1,126 7 93 1,896 7 is 28 2 Official. . . . 3 2 27 2 45 4 Stock Flat Coal Refrig. . . Totals Gravel Derrick . . . Cahoose. . . Other 6 61 2 40 13 58 B.M.&X . . Dining Other Totals Totals 161 101 90 74 242 64 10,390 3,122 50 67 80 O. General Income Account, year ending Dec. 31, 1902. Earnings- Passenger $2,673,176 13 Freight 4,544,73729 Coal 3,656,26625 Miscellaneous 176,510 32 Expenses— Malnt. of Way and Struct. $1,354,080 14 Maintenance of Equipment 1,243,637 23 Conducting Transportation 3,720,116 02 General and Taxes 371,31632 Total ($16,031.52 per mile) $11,060,68999 Total ($9,704.13 per mile) $6,689,149 71 Net railroad earnings (39.47 p. c.), $4,361,540.28; net income of Coal and Sales De- partments (see Sec. 9), $1,258,361.61 — total, $5,619,901.89. Payments: Rentals of and charges against leased lines, $2,627,119.69; interest on D. & H. Co. 1st mtge. bonds, $350,000— total, $2,977,119.69. Net profit, $2,642,782.20. Deduct: Sinking fund of 5 cents per ton on coal produced, $144,906.93. Surplus, $2,497,875.27. 7. The following statement shows the result of operation of the railroad divisions of the system for the year ending Dec. 31, 1902: NORTHERN RR. DEPARTMENT Pennsylvania Railroad Department Total Railroad System Susquehanna Division Saratoga Division Champlain Division Total Earnings — Passenger Coal. . . . S 599,326.99 1,605,171.50 1,742.279.97 19,257.10 $ 1,174,310.76 304,836.06 1,458,320.28 86,070.94 $ 461,178.59 123,041.05 652,763.59 2,849.25 I 2,234,816.34 2,033,048.61 3,853,363.84 108,177.29 * 438,359.79 1,623,217.64 691,373.45 68,333.03 I 2.673,176.13 3,656.266.25 4.544.737.29 176.510.32 Gen. Freight Other Totals Exp. — Main. Way .etc Main. Equip. . Transporta'n.. General. . . 3,966,035.56 359,896.73 479,421.76 1,219,697.66 110,891.98 3,023,538.04 665,961.02 351,282.14 1,135,982.89 181,955.99 1,239,832.48 148,353.98 146,445.11 391,493.67 54,366.85 8,229,406.08 1,074,211.73 977,149.01 2,747,174.22 347,214.82 2,821,283.91 279,868.41 266,488.22 972,941.80 24,101.50 11,050.689.99 1,354,080.14 1,243,637.23 3,720,116.02 371,316.32 Totals 2.169,908.13 1,796,127.43 2.235,182.04 788,356.00 740,659.61 499,172.87 5,145,749.78 3,083,656.30 1,543,399.93 1,277,883.98 6.689,149.71 4,361,540.28 Not Earnings. . . The Susquehanna Division comprises the Albany and Susquehanna, Schenectady and Duanesburgh, Schenectady and Mechanicsville and Cherry Valley, Sharon and Albany RR. ; the Saratoga Division includes the Rensselaer and Saratoga RR. and (for the last six months of the year) the Adirondack Ry.; the Champlain Division comprises the New York and Canada and the Ticonderoga RRs.; and the Pennsylvania RR. Dept. consists POOR'S MANUAL THE DELAWARE AND HUDSON COMPANY. 79 of the Lackawanna and Susquehanna, Valley, Union, Plymouth and Wilkesbarre and Honesdale Branch RRs. 8. Profit and LOSS Account, year ending Dec. 31, 1902. — Credits: Bal ance, Dec. 31, 1901, $6,318,164.91; surplus income for year, $2,497,875.27; result from merger of Adirondack Ry. Co. and sundries, $458,067.68 — total, $9,274,107.86. Debits: Dividends on capital stock (7 p. c.), $2,450,000; mine improvements, depreciation, $100,000; sundries, $53,579.64; credit balance, Dec. 31, 1902, $6,670,528.22— total, $9,274,107.86. 9. Income from Coal and Sales Departments, year ending December 31, 1902. Receipts — Coal Sales at Mines $112,698 78 Coal Sales RR. Depts 746,54452 Coal Sales, Other Points. . 11,074,256 14 Interest 2,04785 Value of Coal sold from Stock. $11,935,547 29 . 870,798 99 Total $11,064,748 30 Expenses— Mining and Preparing Coal $5,809,648 54 Coal Purchased 5,802 70 General Expenses 306,562 81 RR. Transportation 3,663,04918 Marine Charges 45,43515 Handling Expenses 157,27095 Taxes 186,94405 Real Estate Expenses 18,029 23 Total $10,191,742 61 Net earnings of Coal and Sales Departments, $873,005.69; miscellaneous profit, $81,708.99; interest on investments, $303,646.93 — total, net income exclusive of rail- road operations, $1,258,361.61. 1O. Statement of railroad operations, profit and loss account and general balances, for three fiscal years ending Dec. 31 : 1900 1901 1902 1900 1901 1902 Miles of Road Oper'd . Rev. Train Mileage: Passenger 660.32 2,345,101 3,630,094 660.83 2,366,712 3,586,489 689.31 2,518,688 3,357,255 Net RR. Earnings Coal Dept. Income.. . . Miscellaneous $ 5,455,770.07 122,062.10 $ 5,801,602.53 1,407,307.03 S 4,361,540.28 873,005.69 385,355.92 351,432.40 393,838.49 Freight Net Income 6,129,264.57 2 591 872 °4 7,002,748.05 2 548 672 02 5,619,901.89 2 6">7 119 69 Total Passengers Carried . . . Passenger Mileage. . . . Freight (tons) Moved Freight (ton) Miles . Earnings — Passenger Coal Freight, . . Other Total 5,975,195 4,952,067 87,064,894 12,204,307 1 152 849 723 5,953,201 5,703,635 95,835,051 13,057,958 1 274 511 441 5,875,943 6,074,613 103,827,273 10,659,444 1,159,831,753 $ 2,673,176.13 3,656,266 25 4,544,737.29 176,510.32 Interest on Bonds. . . . 350,000.00 350,000.00 1000,00000 350,000.00 Sinking Fund 233,369.36 144,906.93 Total Charges 2,941,872.24 4,232,041.38 3,122,026.62 2,497,875.27 6,318,164.91 Net Profit 3,187,392.33 5,359,760.22 3,370,706.67 5,489,409.80 Surplus Forward $ 2,263,998.70 4,996,411.11 4,057,778.84 167,000.26 $ 2,432,273.95 4,095,238.70 5,463,742.80 187,427.89 Sundry Credits Total Credits Dividends. 9.721.43 5,887.60 458,067.68 8,556,873.98 1,750,000.00 *1,317,464.12 5,489,409.86 8,806,004.13 2,450,000.00 97,839.22 6,318,164.91 9,274,107.86 2,450,000.00 153,579.64 6,670,528.22 Credit Balance 11,485,188.91 6,029,418.84 12,178,683.34 6,377,080.81 11,050,689.99 6,689,149.71 Total Debits Capital Stock 8,556,873.98 34,793,200.00 7,500,000.00 5,105,972.22 5,489,409.86 8,866,004.13 34,645,700.00 8,700,000.00 5,619,074.19 6,318,164.91 9,274,107.86 34,507,100.00 9,350,000.00 4.9Sf,.2r,J.oS 6.ti70,:,js.22 Oper. Exp. & Taxes. . Net Earnings Gross Earn, per Mile... Gross Exp. per Mile. .. Net Earn, per Mile. . . Expenses to Earnings. Earn. p. Pass. p. Mile . Earn. p. Ton p. Mile . . 5,455,770.07 17,271.74 9,124 01 8,147.73 52.50 p. c. 2.305 c. 0.7 89c. 5,801,602.53 18,429.37 9,650.11 8,779.26 52.36 p. c. 2.255 c. 0.7.55c. 4,361,540.28 16,031.52 9,704.13 6,327.39 60.53 p. c. 2.285 c. 0.71 Ic. Funded Debt Current Liabilities. . .. Profit and Loss Total Liabilities Permanent Investm's. Supplies, Coal, etc. . . Stocks and Bonds. . . . Cash Assets 52,S8S,.-)82.ns 41,089,787.5: 2,487,050.40 1,427.959.13 7,283,784.98 .55,282,939.10 43,277,378.31 55,513,890.90 44,995,9.50.70 2,930,921.71 1,419,300.00 7,655,339.08 2,350,991.71 1,352.773.08 6,814,175.41 Total Assets 52,888,582.08 55,282,939.10 55,513,890.90 •This amount includes $1,036,117.85 charged oft for depreciation of property, $228,962.50 charged to sinking fund for the retirement of the company's securities, and $52,383.77 of sundry charges. The charges for depreciation and for sinking fund are deducted from net income in the account for 1901. 11. Capital Stock. — Since Dec. 31. 1902, the capital stock has been reduced to $34.407,100 by the operation of the sinking fund created in 1899 for the purpose of retiring the securities of the company (see Sec. 4). 12. Funded Debt. — The funded debt outstanding on Dec. 31, 1902 — total, $9,350,000, as per general balance sheet — consisted of the following : $5.00O,OOO Pa. Div. 1st 7s of Sept. 1, 1917, int. M. & S. Secured by first mortgage on the real estate, coal lands, railroads and other prop- erty of the company in the State of Pennsylvania. 91,OOO,OOO Adirondack Ry. 1st gold 41s of March 1, 1942, assumed by the D. & H. Co. Se- cured on the line from Saratoga to North Creek, N. Y.. 56.97 miles. $2,3OO,OOO equipment debenture 4s, due $200,- 000 each Jan. 1 from 1901 to 1914, int. J. & J. $1.050.000 car trust certificates, gold 3|a, due $150,000 each May 15 from 1903 to 1909. 80 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. 13. General Balance Sheet, December 31, 1902. Real Estate Unmlned Coal •Railroad Construction Adirondack Ry Railroad Equipment Marine Equipment Coal Dept. Equipment Mining Plant Coal Handling and Storage Plants. Supplies on Hand (Cost) Shop Machinery, Tools, etc Coal on Hand at Agencies (Cost)... tStocks and Bonds Owned Advances on Unmlned Coal Cash Bills and Accounts Receivable $r>.260.204 44 12,148.716 12 14,966,099 48 1,000,000 00 8,038,757 97 10,000 00 841,921 92 2,488,634 45 241.616 32 1,746,666 00 509,821 80 94,503 91 1,352,773 08 892,558 97 892,302 08 5,029,314 36 Capital Stock ($100 shares) $34,507,10000 Funded Debt Outstanding (Sec. 12)... 9,350.000 00 Interest, Dividends, etc., due Jan. 1. 557,550 00 Interest, Dividends and Bonds Unpaid 131,711 35 Sinking Fund for the purpose of re- tiring Capital Stock in accordance with Stockholders' Ordinance of May, 1899 179,54217 Fire Insurance Fund 100,35732 Accounts Payable 4,017,101 84 Profit and Loss, Surplus 6,670,52822 Total Assets $55,513,89090 Total Liabilities $55,513,89090 •In addition to property owned directly by the company, this item includes the stocks of the following companies at cost: New York and Canada RR. Co., Cherry Valley, Sharon and Albany RR. Co., and the Schenectady and Duanesburgh RR. Co. tThis item consists of $450,000 (4,500 shares) stock of the Albany and Snsquehanna RR. Co.; $800,000 (8,000 shares) stock of the Rensselaer and Saratoga RR. Co., and miscellaneous stocks and bonds valued at $102,773. 14. Guaranteed Bonds. — The company guarantees, both as to principal and interest, $20,- 050,000 of bonds issued by subsidiary corporations, as follows : Chateaugay Ore & Iron Co. $400,000 1st consols. 6s of Jan. 1, 1929, int. J. & J. Chateaugay Ry. Co. 200,000 1st 6s of Aug. 1, 1907, int. F. & A. Bluff Point Land Improvement Co. 300,000 1st 4s of Jan. 1, 1940, int. J. & J. The Hudson Coal Co. 1,500,000 debent. 4s of May 1, 1917, int. M. & N. Albany & Susquehanna RR. Co. $3,000,000 1st 7s of April 1, 1906, int. A. & O. 7,000,000 1st 6s of April 1, 1906, int. (gold) A. & O. New York & Canada RR. Co. 4,000,000 1st gold 6s of May 1, 1904, int. M. & N. 1,000,000 gold deb. 4Js of May 1, 1904, Int. M. & N. Utk-a, Clinton & Binghamton RR. Co. 800,000 1st 5s of July 1, 1939, int. J. & J. 1,850,000 deben. 4s due May 1, 1903-1918, int. M. & N. 15. Gnaranteed Interest and Dividends. — The company guarantees the payment of Interest on $2,000,000 1st 7s of May 1, 1921, of the Rensselaer and Saratoga RR. Co. and on $500,000 1st 6s of Sept. 1, 1924, of the Schenectady and Duanesburgh RR. Co. ; and guarantees dividends at the rate of 7 p. c. per annum on $3,500,000 capital stock of the Albany and Susque- hanna RR. Co. ; 8 p. c. per annum on $10,000,000 capital stock of the Rensselaer and Saratoga RR. Co., and 61 p. c. per annum on $350,000 capital stock of the Rome and Clinton RR. Co. After July 1, 1902, dividends on the capital stock of the Albany and Susquehanna RR. Co. are guaranteed at the rate of 9 p. c. per annum. 16. SUMMARY OF FINANCIAL OPERATIONS OUTSIDE OF INCOME ACCOUNT, YEAB ENDING DECEMBER 31, 1902 : Decrease of Assets : Real Estate, $9,655.89 ; marine equipment, $163,808.67 ; mining plant — breakers, washeries, shops, etc., $100,000 ; coal handling and storage plants, $64,259.03 ; supplies on hand, $870,798.99 ; stocks and bonds, $66,526.92 ; cash, $1,157,299.39 — total $2,432,348 89 Increase of Liabilities : Adirondack Ry. 1st mtge. bonds of 1942, $1,000,000 ; in-, terest, dividends, etc., due Jan. 1, 1903, $31,000 ; insurance fund, $100,357.32 — total 1,131,357 32 Increase of Profit and Loss 352,363 31 Total to be accounted for $3,916,069 52 Increase of Assets : Unmined coal, $59,067.35 ; railroad construction, $10,913.05 ; Adirondack Ry., $1,000,000 ; railroad equipment, $844,106.92 ; coal depart- ment equipment — cars, motors, horses, mules, etc., $144,208.66 ; supplies on band, $238,707.72 ; shop machinery, tools, etc., $52,161.27 ; advances on un- mined coal, $106,501.71; bills and accounts receivable, $209,634.01 — total $2,663,300 69 Decrease of Liabilities : Capital stock, $138,600 ; bonds, $350,000 ; interest, etc., unclaimed, $2,129.25 ; sinking fund for retiring capital stock, $60,486.07 ; accounts payable, $701,553.51 — total 1,252.76883 Total accounted for $3,916,069 52 17. LEASED AND PROPRIETARY RAILROADS OF THE DELAWARE AND HUDSON Co. SUSQUEHANNA DIVISION. ALBANY AND SUS^UEHANNA RR Albany to Binghamton, N. Y., 142.59 m. ; 2d track 95.96 m. ; total track (steel, 238.55 m.), 333.57 mil os. HISTORY — Chartered April 19, 1851 ; road opened to Binghamton, Jan. 14, 1869. Leased in perpetuity, Feb. 24, 1870, at a yearly rental equivalent to intercut on bonds (including $70,000 for 6 p. c. Interest and 1 p. c. sinking fund on $1.000,000 Albany City Loan matured May 1, 1897), dividends at tne rate 7 p. c. until July, 1902, and thereafter at the rate of 9 p. c. per annum ; the first dividend at the latter rate being payable Jan. 1, 1903. INCOME ACCOUNT, year ending June 30, 1902. — Rental, $875,000; organization, $1,000 — total, $876,000. Payments : Interest, $630,000 ; dividends, J. & J., 3i p. c. each, $245,000; other items, $1,092 — total. $876,092. Deficit, $92. Surplus forward ($658,718; plus $55,343 transfer from bills pay- able). $714,061. Net surplus June 30, 1902, $713,- 969. BALANCE SHEET. June 30, 1902. — Capital stock ($100 skares), $3,500.000; funded debt, $10,- POOR'S MANUAL THE DELAWARE AND HUDSON COMPANY. 81 000,000; profit and loss, $713,969 — total, $14,213,969. Contra : Cost of road and equipment, $14,200,766 ; stock of other companies, $7,000; cash, $6,203 — total, $14,213.969. FUNDED DEBT consists of $3,000,000 7 p. c. and $7,000,000 6 p. c. consol. mtge. bonds, due April 1, 1906. The bonds are guaranteed, both as to prin- cipal and interest, by the D. & H. Co. CORPORATE OFFICERS. — Robert Olyphant, Pres., New York, N. Y. ; W. L. M. Phelps, Sec. & Treas., Albany, N. Y. Office, Albany, N. Y. CHERRY VALLEY, SHARON AND AL- BANY RR — Cobleskill June, to Cherry Valley, 21.04 m. ; total track, 22.45 miles. Rail — iron, 56 to 62 Ibs. ; steel (21.04 m.), 62 Ibs. HISTORY. — Organized June 10, 1869; road opened Oct. 1, 1870. Owned by D. & H. Co. Rental, year ending June 30, 1902, $10,662; deficit forward, $173,797 ; net deficit, $163,135. BALANCE SHEET, June 30, 1902. — Capital stock ($500,000 auth. ; $50 shares), $289,100; due SARATOGA ALBANY AND VERMONT RR Albany to Waterforrt June., N. Y., 12.18 m. ; total track, 34 miles. Rail (steel, 18.77 m.), 80 Ibs. HISTORY. — Reorganization after foreclosure sale on Oct. 5, 1859, of the Albany, Vermont and Canada RR. Co. (See Manual for 1891, page 179.) Leased in perpetuity to the R. & S. RR. Co. ; lease assigned to D. & H. Co. Rental, $20,- 000 per annum. Payments, year 1901-1902 : Divi- dends (3 p. c.), $18,000; expenses and other charges, $1,280 — total, $19,280. Surplus, $720. BALANCE SHEET, June 30, 1902. — Capital stock, $600,000 ; profit and loss, $7,771 — total, $607,- 771. Contra : Cost of road, etc., $600,000 ; other assets, $7,771 — total, $607,771. CORPORATE OFFICERS. — Edward C. Gale, Pres. ; J. H. Neher, Treas. & Sec., Troy, N. Y. GLENS FALLS RR Fort Edward to Cald- well, N. Y., 15.12 m. ; total track (steel, 15.12 m.), 27.27 miles. HISTORY. — Chartered July 26, 1867. Leased in perpetuity by R. & S. RR. Co. ; lease assigned to the D. & H. Co. Rental, $1 per annum. FINANCIAL STATEMENT. — Capital stock (all owned by R. & S. RR. Co.), $96,600; due lessee, $359,831 — total, representing cost of road, $456,431. CORPORATE OFFICERS. — Geo. B. Warren Pres. ; J. H. Neher, Sec. & Treas., Troy, N. Y. RENSSELAER AND SARATOGA RR. — Waterford June., N. Y., to Ballston, 19.55 m. ; Saratoga to Lake Champlain, 40.73 m. ; branches, Troy to Waterford June., 5.59 m. ; Watervliet to Green Island, 1.08 m. ; Eagle Bridge, N. Y., to Rutland, Vt., 62.44 m. ; Whitehall, N. Y., to Vt. State Line, 6.63 m. — total, 136.02 m. ; total track, 258.99 miles. HISTORY. — Chartered April 14, 1832; road opened March 19, 1836. Consolidated with the Troy, Salem and Rutland and the Saratoga and Whitehall RRs. in 1868. (See Manual for 1881.) Leased in perpetuity (lease dated May 1, 1871) to D. & H. Co., the lessee assuming all interest CHAMPLAIN NEW YORK AND CANADA RR. (Lessor's Statement). — Whitehall to Rouses Point, N. Y., 112.93 m. ; Chazy June, to Province Line, 12.78 m. ; South June, to Ausable Forks, 19.05 m. ; Ticon- deroga to Baldwin, 4.91 m. ; Ticonderoga RR., Delano June, to Ticonderoga (operated under contract for 25 p. c. of gross earnings), 1.41 m. — total, 151.08 m. ; total track, 194.60 miles. HISTORY. — Organized March 16, 1872; main line opened Nov. 16, 1875. Lake George branch opened in May, 1875 ; line between West Chazy and Rouses Point in Sept., 1876. Leased to the D. & H. Co., and operated as that company's Cham- plain Division. INCOME ACCOUNT.— Rental, $281,540, being interest on bonds, lessee, $463,135 — total, $752,235. Contra: Cost of road, $589,100; profit and loss, $163,135 — total, $752,235. CORPORATE OFFICERS. — David Willcox, Pres. ; F. M. Olyphant, Sec. & Treas., New York, N. Y. SCHENECTADY AND DUANESBURGH RR. — Duanesmirgh June, to Schenectady, N. Y., 13.79 m. ; total track (steel, 13.79 m.), 19.76 miles. Rail, 56 to 80 Ibs. HISTORY. — Reorganization, July 15, 1873, of the Schenectady and Susquehanna RR. (See Manual for 1891.) Leased to the D. & H. Co. for interest on bonds. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($300,000 auth.; $100 shares), $100,- 900; funded debt (1st 6s of Sept. 1, 1924), $500,000; open accounts, $166,954 — total, representing cost of road, $767,855. CORPORATE OFFICERS. — David WHIcox, Pres. ; Daniel Wilson, Treas. ; F. M. Olyphant, Sec., New York, N. Y. Office, New York, N. Y. DIVISION. and lease obligations, and guaranteeing 8 p. c. per annum on the capital stock. INCOME ACCOUNT.— Rental, year 1901-1902, $941,000; other receipts, $2,880 — total, $943,880. Payments : Expenses, $2,593 ; interest on bonds, $140,000; dividends (8 p. c.), $800,000 — total, $942,- 593. Surplus, $1,287. BALANCE SHEET, June 30, 1902. — Capital stock, $10,000,000; funded debt (1st 7? of May 1, 1921), $2,000,000; surplus, $70,451— total, $12,070,451. Contra : Cost of road, $10,917,489 ; other invest- ments, $1,134,511; other assets, $18,451 — total, $12,070,451. CORPORATE OFFICERS. — Geo. B. Warren, Pres. : J. H. Neher, Sec. & Treas. Office, Troy, NT. Y. RUTLAND AND WHITEHALL RR New York State Line to Castleton, Vt., 6.83 m. ; total track (steel, 6.83 m.), 8.68 miles. Leased In perpetuity, to the R. & S. RR. Co., at an annual rental of $15,492, being 6 p. c. on the cost of the road, $255,700. Dividends payable Feb., May, Aug., and Nov., at United National Bank of Troy, N. Y. CORPORATE OFFICERS. — H. G. Young, Pres., Albany, N. Y. ; C. R. Allen, Treas. ; Ira R. Allen, Sec., Fair Haven, Vt. SARATOGA AND SCHENECTADY RR Saratoga to Schenectady, N. Y., 21.65 m. ; total track, 45.85 miles. HISTORY. — Chartered Feb. 16, 1831. Leased in perpetuity to the R. & S. RR. Co. ; lease assigned to D. & H. Co. INCOME ACCOUNT. — Rental, 1901-1902, $31,750 ; add interest, $200 — total, $31,950. Dividends (7 p. c.), $31,500; expenses, $490; deficit, $40. BALANCE SHEET, June 30, 1902. — Capital stock, $450,000 ; income balance, $6,430 — total, $456,480. Contra : Cost of road, $450,000 ; bonds owned, $5,000; other assets, $1,480 — total, $456,480. CORPORATE OFFICERS. — Le Grand • C. Cramer, Pres. ; J. H. Neher, Sec. & Treas. Office, Troy, N. Y. DIVISION. BALANCE SHEET, June 30, 1902. — Capital stock auth. ($3,991,000 outstanding; $100 shares^, $4,000,000; funded debt ($4,000,000 1st sterling 6s of May 1, 1904, and $1,000,000 gold debenture 4Js of May 1, 1904, int. M. & N.), $5,000,000; open accounts, $172,067 — total, representing cost of road and equipment, $9,172,067. The stock is almost wholly owned by the D. & H. Co. The bonds are guaranteed, principal and interest, by the same company. CORPORATE OFFICERS. — David Willcox, Pres. ; Charles A. Walker, Sec. & Treas., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. 82 18. Board of Managers, elected May 12, 1903. ROBERT M. OLYPHANT, Chairman Executive Committee, New York, N. Y. R.M.Olyphant..New York. N. Y. C. A. Peabody. Alex. E. Orr. . " O. I. Wilber....Oneonta, N. Y. C. M. Depew..New York, N. Y. J. W. Alexander " .E. H. Harriman " J. J. Astor One vacancy. DAVID WILLCOX, President New York, N. Y. R. S. Hayes.. New York. N. Y. F. Cromwell... " D. Willcox R. S. Grant Vice-Pres. — Alex. E. Orr New York, N. Y. 2d Vice-Pres.— Horace G. Young. 3d V-Pres.£Compt. — Abel I. Culver Gen. Counsel — Wm. S. Opdyke...New York, N. Y. Treasurer— Charles A. Walker. . Secretary — F. Murray Olyphant. x». V-..1. KT V Auditor— S. T. S. Henry New York, N. Y. PRINCIPAL OFFICE AND ADDRESS 21 Cortlandt Street, New York, N. Y. RAILROAD CONTROLLED BY THE DELAWARE AND HUDSON Co. COOPEBSTOWN AND CHARLOTTE VALLEY BB. — Charlotte Crossing to Davenport Center. N. Y., 5.08 m. ; C. & S. Vy. RR. (leased, see below), 19.48 m. — total, 24.56 m. ; total track (steel ; 56 IDS.), 28.57 miles. Gauge, 4 ft. 8J in. Consolidation, April 13, 1891, of the C. & C. Vy. and the West Davenport RR. Cos. (See MANUAL for 1891.) Equipment (leased) : Locomotives, 3. Cars — passenger, 5; baggage, etc., 1; freight (box), 6; other, 19 — total, 31. Operations, year ending June 30, 1902. — Trains run (passenger, 42,186; freight, 17,832), 60,018 miles. Passengers carried, 92,373 ; carried one mile, 696,562. Tons freight moved, 38,174 ; ton-miles, 500,588. Earnings (passenger, $19,216; freight, $33,768; other, $3,514), $56,498. Operating expenses, $38,535. Net earnings, $17,963. Payments: Taxes, $2,046 ; rentals, $10,188 : other charges, $2,706 — total, $14,940. Surplus, $3,023 ; surplus forward, $1,103 — total, $4,126. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $45,000; current lia- bilities, $2,975 ; due C. & S. V. RR. Co., payable Jan. 1, 1990, $25,145 ; rentals, $185 ; profit and loss, $4,126 — total, $77,431. Contra : Cost of road and equipment, $70,145 ; materials, etc., $1,000 : cash and current assets, $6,286 — total, $77,431. Since date of above statement the Delaware and Hudson Co. has become the owner of all the capital stock of the Cooperstown and Charlotte Valley RR. Co. RAILROAD LEASED BY Cooperstown and Snsquehnnna Valley RR. — Cooperstown to Charlotte Crossing, N. Y., 19.48 m. ; total track (steel ; 56 Ibs.), 22.79 miles. Locomotives, 3. Cars, 31. Chartered Feb. 25, 1865 ; road opened to Coopers- town, July 14, 1869 ; extended to Charlotte Cross- ing in 1889. Leased for 99 years, from Jan. 1, 1889, to the C. & C. Vy. RR. Co., which guaran- tees interest on bonds. C. & C. V. RR. Co. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $307,400; funded debt (1st 5s of May 1, 1918), $200,000; interest due and accrued, $1,«87 ; profit and loss, $123 — total, $509,210. Con- tra : Cost of property, $481,998 ; other assets, $27,212— total, $509,210. George Brooks, Pres. ; Albert Lane, Vice-Pres., Cooperstown, N. Y. Corporate Office, Coopers- town, N. Y. Directors, C. & C. V. RR. Co. — David Willcox, F. M. Olyphant, R. M. Olyphant, Wm. S. Opdyke, R. S. Grant, Chas. A. Peabody, New York, N. Y. ; George E. Wilber, Oneonta, N. Y. ; Abel E. Cul- ver, Albany, N. Y. ; Datus E. Siver, Cooperstown, N. Y. OFFICERS : DAVID WILLCOX, Pres., New York, N. Y. ; Abel E. Culver, Vice-Pres., Albany, N. Y. ; F. M. Olyphant, Sec. & Treas., New York, N. Y. GENERAL OFFICE, Cooperstown, N. Y. DELAWARE, LACKAWANNA AND WESTERN RAILROAD COMPANY. (For map of this system, see page 83.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Coal Department Operations. 9 Controlled Road Statements.. 11 Funded Debt, Details of 7 Gen. Bal. Sheet, Dec. 31, 1902 5 Gen. Bal. Sheet, 1896-1902 6 History 2 Operations, all Lines Owned and Leased, and Capital 1896-1902 6 Rentals of Leased Lines 4a Rolling Stock, Details of.... 3 Income Account, Year 1902. Income Account, 1896-1902... Leased Lines, Statements of. Managers and Officers Mile. Operated, Dec. 31, 1902 Operations.* Income, 1902... 1. Main Line Owned: Del. Riv. (N. J. Line) to N. Y. State Line.. 114.33 miles. Dloomsburg Branch: Scranton, Pa., to Northumberland, Pa 79.66 " LEASED LINES (in New York, New Jersey and Pennsylvania; see Sec. la.) . . 576.67 " RALROADS CONTROLLED AND OPERATED (see Sec. 3a.) 177.15 " Total length of all lines owned, leased, and controlled, Dec. 31, 1902. . 947.81 miles. Gauge, 4 ft. 8y2 in. Rail (steel, 2,149.43 m.), 60 to 80 Ibs. 2. History. —Consolidation, April 30, 1853, of the Ligetts Gap RR. and the Dela- ware and Cobbs Gap RR. Road opened throughout on May 27, 1856. The leased and controlled railroads were acquired at various periods and under terms given in the appended statements. (See also MANUAL for 1896, page 514.) 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 649. Cars — passenger, 153; sub- urban coaches, 233; combination, 83; baggage and mail and baggage and express, 54; express, 64; milk and butter, 118; dining, 6; pay, 1; business, 3; club, 4; straight 83 84 POOR S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. mail, 4; freight (box, 11,977; stock and poultry, 340; flat, 527; gondola, 3,106; hopper, 10,407; refrigerator, 332; caboose, 327), 27,016; service and gravel, 554 — total, 28,293. 3a. Statement showing mileage of all lines owned, leased, or operated, Dec. 31, 1902: Single Track. Double Track. Length ofRR. Sidings Total Track. Steel Rails. Iron Rails. State of Pennsylvania: Miles. Miles. 114.33 Miles. 114.33 Miles. 174.39 Miles. 403.05 Miles. 396.75 Miles. 6. 30 56.12 23.54 79.66 74.54 177.74 171.51 6.23 New York Lackawannsufc West, in Pa 6.38 6.38 12.76 12.76 56.12 144.25 200.37 248.93 593.55 581.02 12.53 State of New Jersey: 25.45 94.23 119.68 191.61 405.52 379.79 25.73 1.92 1.92 4.76 6.68 6.43 0.26 Newark and Bloomfield 1.49 2.75 4.24 4.75 11.74 10.87 0.87 Passaic and Delaware 14.11 7.41 14.11 7.41 4.44 2.08 18.55 9.49 16.61 9.49 1.94 10.04 10.04 1.84 11.88 10.57 1.31 4.99 13.83 18.82 7.51 40.16 39.95 0.21 Total New Jersey 65.41 110.81 176.22 216.99 504.02 473.71 30.31 State of New York: Valley 11.11 11.11 4.53 26.75 26.75 New York, Lackawanna and Western . 1.21 206.85 208.06 156.38 571.29 571.29 Cayuga and Susquehanna Greene 34.41 8.10 34.41 8.10 7.04 1.07 41.45 9.17 36.92 9.17 4.53 Utica Chenango 7.000.00 15.237.677J9 1,468,907.87 3.067.000.00 15,313.976.74 799,990.79 3,067000 13,893.530 1,031.879 3.007,000 15,500,703 s!o67!ooo 15,523,572 3!007,000 10,719,027 3 007,000 14.638.974 Total Liabilities 45,973,585.06 45,380,967.53 44.192,409 44,767.703 44,790,572 45.986.627 43,805,974 Permanent Propertv 33,742,817.29 33.742,817.29 33.386,074 33,094,539 33,185,876 32,700.028 32,640.112 Stocks and Bonds 10.373.002.00 9904 13700 9 096 617 4,993,350 6,041,945 7,390,913 7,516,444 Materials nnd Supplies. . . Net Current Accounts. . . . 1,857.165.77 1,734,013.24 1,709,718 991,424 5,688.390 1,141.555 4,421.196 1.243,530 4,652,156 1,234.601 2.414.757 Total Property 4 Assets 45,973,585.06 45,380,967.53 44, 192,409 44,767.703 44,790,572 -|.-).!lMi.f,-'7 43.805,974 *In above table the statistics given for " freight train miles " and " coal train miles for the years 1896, 1897 and 1898, include switching service and other non-revenue train mileage; for the years 1900 to 1902, the figures given for freight and coal train mileage combined Include onlj revenue train miles. Corresponding figures for the previous years covered by the table are n obtainable. tFrom this amount should be deducted $2,523,127 for renewals and betterments, leav- ing actual net earnings of $8,417,908. JFrom this amount should be deducted $3,058,149 for renewals and betterments, leaving actual net earnings of $5,046,022. 86 POORS MANUAL OF RAILROADS — MIDDLE ATLANTIC GROt I1. 7. Funded Debt — Funded debt, Dec. 31, 1902, consisted of $3,007,000 (auth. $10,000,000) consol. 7s of Sept. 1, 1907. int. M. & 8. 8. Statement showing for the year ending Dec. 31, 1902, the traffic operations, in- come, etc., of the D., L. & \V. RR. proper, and its principal controlled lines: D., L. & W. RR. and Leased Lines CONTROLLED RAILROADS Syra., Bing. & N.V.RR. Sussex RR. Lack. & Mont. RR. Bangor & Port. Ry. Miles RR. Operated 770.00 16,228,335 316,642,889 11,214,559 1,733,118,189 $ 4,592,036.28 7,013,424.06 8,145,920.48 1,647,383.51 80.95 390,407 11,524,972 1,538,503 86,277,416 I 239,534.19 350,090.10 254,516.96 99,815.97 30.55 216,189 1,935,687 172,114 3,343,359 $ 53,708.44 84,195.00 5,202.47 25,350.88 10.48 46,197 449,187 LA.879 176,816 r 14,071.28 5,317.48 1,344.96 1,924.32 38.38 100,276 1,051,791 512,540 6,816,317 $ 16,631.79 215,884.91 22,945.83 7,766.65 i > in- Freight Moved. . . . . Tons Freight Moved One Mile Earnings — Passenger Merchandise Coal.. Miscellaneous Total Earnings 21,398,764.33 13,641,051.81 943,963.28 737,580.36 168.457.39 105,209.90 22,658.04 23,647.04 263,229.18 197,055.77 Operating Expenses Net Earnings 7,757,712.52 27,766.83 17,700.48 10,066.35 63.75 p.c. 1.450C. 0.875c. 206,382.92 11,661.07 9,111.55 2,549.52 78.14 p.c. 2.078c. 0.709c. 63,247.49 5,514.15 3,443.86 2,070.29 62.44 p.c. 2.775c. 2.674c. def 989.00 2,162.03 2,256.40 def 94.37 104.35 p.c. 3.133c. 3.768c. 66,173.41 • 6,858.50 5,134.33 1,724.17 74.86 p.c. 1.581c. 3.504c. Gross Earnings per Mile. . . . . Operating Expenses per Mile Net Earnmgsper Mile Expenses to Earnings Average Rate per Passenger i>er Mile. . . Average Rate per Ton per Mile 9. Coal Department Operations.— The following statement shows th« operations of the company's coal department for the year ending Dec. 31, 1902: SALES AND EARNINGS Tons Amount COST AND EXPENSES Tons Amount Coal Sales— At Mines No. 81,438 1,016,161 3,401,704 $ 145.019.16 1.361.508.81 12.402,988.07 Coal on hand, Jan. 1 1902 No. 4511,270 5,052,698 $ ],642,573.44 7,2(19,236.02 Company's Supply Cost of Coal Mined and Purchased. . . . Local Agencies Transp.— On D., L. A AS'. Lines 3,886,553 7,961,982.77 Foreign Agencies 848,081 4,870,548.61 856,573 4,249,785 2,089,783 522,154.23 328,524.65 424,610.96 96,298.40 184.419.15 223,673.79 Total Sales. ... Handling Local and Foreign Agen CommifisiiniL , 5,347,384 437,882 5,347,384 161,584 18.780,124.65 191,945.12 Bacge Earnings — Company's Boats . . Total Sales and Earnings General Expenses. 18.972,069.77 473,880.36 Extraordinary Improvements Coal on hand, Dec. 31, 1902 Total Cost and Expenses 18,653,473.41 792,476.72 Total Profit as per Income Account Total 19,445,950.13 19,445,950.18 •Includes cost of new scow barges, $37,808. 1 0. RAILROADS LEASED BY THE D., L. & W. RR. Co. AND WHOSE OPERATING RESULTS ARE INCLUDED IN THE INCOME ACCOUNT OF THE LESSEE. CAYIIGA AND SUSQUEHANNA RR. — Hupquehanna River, near Owego, to Ithaca, N. Y., 34.41 m. ; total track (steel, 36.92 m.), 41.45 miles. HISTORY — Originally the Ithaca and Owego RR. Co. ( chartered Jan. 28, 1828 ; opened April 1, 1834) : reorganized under existing title April 13, 1843. Leased from April 21, 1855, at an annual rental of $54,600. Paid dividends In 1902 (9 p. c.), $53,020; sundry disbursements, $780 — total, $53,- 800. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $589,110; Income account, $12,868 — total, $601.978. Cost of road, $600,000 ; cash, $1,978. CORPORATE OFFICERS. — M. Taylor Pyne, Pres. ; S. S. Palmer, Treas., 52 Wall St., New York. N. Y. < Hi> I i.ll RR. — Dover to Chester, N. J., 10.04 m. ; total track (steel, 10.57 m.). 11.88 miles. HISTORY. — Chartered in 1868. opened in 1872. Leased to Morris aud Essex RR. Co. for 4 p. c. on bonds. FINANCIAL STATEMENT. — Capital stock. $100,534 ; funded debt, 1st mtge. 4 p. c. bonds, held by lessee, $100,000; floating debt, $27,655 — total, representing cost, etc., $228,189. GREENE: RR. — Cbenango Forks to Greene, N. Y., 8.10 m. ; total track (steel), 9.17 miles. HISTORY. — Organized Oct. 18, 1869; opened in 1871. Leased April 26, 1870, at an annual rental of $26,000, equal to 6 p. c. on its capital stock and 7 p. c. on its bonds. FINANCIAL STATEMENT. — Capital stock, $200,000 ; floating debt, $200.000 — total, represent- ing cost of road, etc.. $400,000. MORRIS AND ESSEX EXTENSION RR. — Junction with Morris and Essex to city of Paterson. 1.92 m. ; total track (steel, 6.43 m.), 6.63 miles. POOR'S MANUAL DELAWARE, LACKA WANNA AND WESTERN SYSTEM. 87 HISTORY. — Chartered in May. 1889; opened in Sept., 1889. Operated by the D., L. & W. RR.. as lessee of the Morris and Essex RR., under an agreement to pay 4 p. c. on its stock, etc. FINANCIAL STATEMENT. — Capital stock, $221,000 ; Heating debt, $56,675 — total, representing eofrt of road, $277,675. MORRIS AND ESSEX RR Hoboken, N. J.. to Phillipsburg, N. J., 85.21 m. ; Denville to West End Tunnel, N. J., 34.47 m. — total, 119.68 m. ; 2d track, 94.23 m. ; total track (steel, 379.79 m.), 405.52 miles. Rail, 68 J to 80 Ibs. HISTORY. — Chartered Jan. 29, 1835 ; opened to Hackettstown, 53 m.. In Jan., 1854 ; to Phillips- burg in 1866. Tunnel completed in 1876. Leased in 1868 to the D., L. & W. RR. Co., the lessee assuming all liabilities and agreeing to pay 7 p. c. per annum on the capital stock and interest on the bonds. INCOME ACCOUNT. — Rental, 1902, $2,586,559 ; being interest on bonds, $1,536,559, and dividends (7 p. c.) on stock, $1,050,000. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $15,000,000 ; funded debt, $28,077,000 ; sundry liabilities, $657 — total, $43,077,657. Contra : Con- struction and equipment, etc., $41,545,492 ; sundry assets, $432,535 ; profit and loss, $1,099,630 — total, $43,077.657. FUNDED DEBT. — The funded debt consists of (1) $5,000,000 1st 7s of May 1, 1914; (2) $11,677,000 1st consol. guaranteed 7s of June 1, 1915; (3) $1,800,000 mtge. bonds, due Jan. 1, 1912; and (4) $9,600,000 1st refunding gold 3is of Dec. 1, 2000. The refunding bonds, $35,000,000 authorized, are to be issued for the retirement of underlying bonds, and to reimburse the D., L. & W. RR. Co. for expenditures made or to be made on this road. The mortgage covers the entire property now owned or hereafter acquired, subject to prior liens. All of the bonds are assumed and guar- anteed by the D., L. & W. RR. Co. CORPORATE OFFICERS. — Wm. H. Truesdale, Pres. ; Arthur D. Chambers, Sec. ; Fred F. Cham- bers, Treas., New York, N. Y. NEWARK. AND BLOOMFIELD RR Newark Junction to Montclalr, N. J., 4.24 m. ; 2d track, 2.75 m. ; total track (steel, 10.87 m.), 11.74 miles. HISTORY. — Chartered March 26, 1852; opened July 1, 1856. Leased to Morris and Essex RR. at an annual rental of 6 p. c. on capital stock. FINANCIAL STATEMENT. — Capital stock, $103,850; floating debt, $185,227 — total, represent- ing rost of road, etc., $289,077. NEW YORK, LACKA WANNA AND WESTERN RR Binghamton, N. Y., to Inter- national Bridge, N. Y., 207.17 m. ; Cayuga Ex- tension, 0.5 m. ; Buffalo City Branch, 6.77 m. — total, 214.44 m. ; 2d track, 213.23 m. ; sidings, 156.38 m. ; total track (steel ; 60 to 80 Ibs.), 571.29 miles. HISTORY. — Chartered Aug. 26, 1880; road opened Sept., 1S82. Leased in perpetuity to the D., L. £ W. RR. Co. at an annual rental equal- ing interest on bonds and 5 p. c. on stock, the lessee assuming all outstanding liabilities, in- cluding principal on bonds, and receiving all assets. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $10,000,000; funded debt ($12,000,000 1st 6s of Jan. 1, 1921, $5,000,000 construction 5s of Aug. 1, 1923 ; and $5,000,000 terminal improvement 4s of 1923), $22,000,000 — total, $32,000,000. Cost of road and equipment, $32,066,537. CORPORATE OFFICERS. — Wm. H. Truesdale, Pres. ; Fred F. Chambers, Sec. & Treas. ; Arthur D. Chambers, Asst. Sec. & Treas., New York, N. Y. OSWEGO AND SYRACUSE RR Syra- cuse, N. Y., to Oswego, N. Y., 34.98 m. ; total track (steel, 52.77 m.), 60.32 miles. HISTORY. — Chartered April 29, 1839; charter amended May 14, 1845 ; opened May 14, 1843. Leased Feb. 13, 1869, at an annual rental equal to 9 p. c. on capital stock and interest on bonds. INCOME ACCOUNT. — Rental in 1902, $182,896. Payments : Interest on bonds, $64,060 ; dividends (9 p. c.), $118,836. BALANCE-] SHEET, Dec. 31, 1902. — Capital stock, $1,320,400; funded debt ($438,000 1st consol. guaranteed 7s of March 1, 1907 ; and $668,000 guar- anteed construction 5s of 1923), $1,106,000; due lessee, $825 — total, $2,427,225. Contra : Cost of road and equipment, $2,398,561, profit and loss (assumed by lessee), $28.664 — total, $2,427,225. PASSAIC AND DELAWARE EXTEN- SION RR. — June, with Passaic and Delaware RR. at Bernardsville to Gladstone, 7.41 m. ; total track (steel), 9.49 miles. Chartered in April, 1890; opened in Sept., 1890. Operated by the D., L. & W. RR. as lessee of the Passaic and Dela- ware RR., under an agreement to pay 4 p. c. on its stock, etc. Capital stock, representing cost of road, $UK),060. PASSAIC AND DELAWARE RR Sum- mit, N. J., to Bernardsville, N. J., 14.11 m. ; total track (steel, 16.61 m.), 18.55 miles. HISTORY. — Organized Oct. 9, 1878, as successor of the New Jersey West Line RR. Co. The road was leased, Nov. 1, 1882, to the D., L. & W. RR. Co.. at a yearly rental of 5 p. c. on the capital stock. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $111,050; due lessee, $32,280 — total, repre- senting cost of road, $143,330. UT1CA, CHENANGO AND SUSQUEHAN- NA VALLEY RY. — Greene, N. Y., to Utica. N. Y., 75.66 m. ; Richfield June, to Richfield Springs, 21.75 m. — total, 97.41 m. ; total track (steel), 132.59 miles. Organized Jan. 11, 1866; opened Oct. 10, 1872. Leased to the D., L. & W. RR. Co., April 9, 1870, at an annual rental of 6 p. c. on capital stock. Capital stock, represent- ing cost of road, etc., $4,000,000. VALLEY RR. — Pennsylvania State Line to Binghamton, N. Y., 11.11 m. ; 2d track, 11.11 m. ; total track (steel), 26.75 miles. HISTORY. — Organized March 4, 1869; opened in 1870. Leased to the D., L. & W. RR. Co., April 15, 1869 ; annual rental, interest on bonds and 5 p. c. on capital stock. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $750,000; funded debt (1st 5s of Aug. 1, 1911), $400,000; due lessee, $3,358 — total, represent- ing cost of road, etc., $1,153,358. WARREN RR. — New Hampton Junction to Delaware River, N. J., 18.82 m. ; 2d track, 13.83 m. ; total track (steel, 39.95 m.), 40.16 miles. HISTORY. — Chartered Feb. 12, 1851 ; opened In June, 1856. Leased to the D., L. & W. RR. Co , Oct. 1, 1857 ; annual rental, interest on bonds and dividends of 7 p. c. on capital stock. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $1,800,000; funded debt (see below), $1,394,- 000 — total, $3,194,000. Cost of road, $3,198,702. FUNDED DEBT consists of $483,000 consol. 1st 7s of March 1, 1905; and $911,000 ($2,000,000 auth.) 1st refunding 3Js of Aug. 1, 2000. The remainder of the refunding bonds will be used for the re- tirement of the Ists and to reimburse the D., L. 6 W. RR. Co. for future capital expenditures on this road. 11. CONTROLLED RAILROADS, OPERATED BY THE D., L. & W. RR. Co., BUT THE RESULTS OF THEIR OPERATION NOT INCLUDED IN THE INCOME ACCOUNT OF THAT COMPANY. m. ; total track (steel, 61.05 m.), 62.76 miles. Rail, BANGOR AND PORTLAND RY. — Portland to Bath, Pa., 29 m. ; Nazareth June, to Martin's Creek, Pa., 4.60 m. ; branches, 4.78 m. ; Easton and Northern RR. (leased), 8.14 m. — total, 46.52 56 and 60 ll-s. HISTORY. — Consolidation, July 1, 1899, of the Bangor and Portland Ry. Co., and the Nazareth 88 POOR'S MANUAL OF RAILROADS — MIDDLE! ATLANTIC <;uol T. and Leblgh Ry. Co. This company leases 8.14 mi It-.- of the Ea-ston and Northern RR., from Bel- fast to Easton, Pa., for six years, from Aug. 1, 1896, at SO p. c. of gross earnings. See General Index for statement of E. & N. RR. Co. The D., L. & W. RR. Co. controls this company through ownership of its entire capital stock. OPERATIONS, year ending Dec. 31, 1902 (see Sec. 7 in D., L. & W. statement). — Gross earn- ings, S2rt3.229.18. Operating expenses, $197,056.77. Net earnings, $66,173.41. Payments : Taxes, $4.- 208.62; interest on bonds, $22,200; rental (E. & N. RR.), $23,515.78; dividend (Dec.. 1902, 4 p. c.), $20.400— total, $70,324.40. Deficit, $4,150.99. DA LANCE SHEET, Dec. 31. 1902. — Capital stock ($100 shares), $510.000; funded debt ($150,000 1st 6s of Jan. 1, 1930; $100,000 1st 6s of Jan. 1, 1932 ; $70.000 1st 6s of Jan. 1, 1936 ; and $60,000 1st 5s of March 1, 1925, these last being held by lessee), $380,000 — total, $890,000. Cost of property, etc., $001.215. CORPORATE OFFICERS. — W. H. Truesdale, Pro?. : Fred F. Chambers, Sec. & Treas., New York, N. Y. Office, 26 Exchange Place, New York, N. Y. HANOVER AND NEWPORT RR Near Plymouth Station to north of Newport Center, Pa., 3.41 m. ; Auchincloss Branch, 0.63 m. ; War- rior Run Branch, 2.77 m. — total, 6.81 m. ; total track (steel), 10.34 miles. HISTORY. — Chartered March 14, 1894. Tbe road is completed to two collieries of the D., L. & W. RR. Co., and Its only earnings are from rents for the use of its tracks by that company. CORPORATE OFFICERS. — Wm. F. Hallstead, Pres , Scranton, Pa. ; Fred F. Chambers, Sec. ; Arthur D. Chambers, Treas., New York, N. Y. Office, Scranton, Pa. 1IOPATCONG RR — Junction with Morris and Essex RR., near Hopatcong, to works of the American Forcite Powder Manufacturing Co., at Roxbury, N. J., 0.89 m. ; total track (steel, 2.43 m.), 2.56 miles. The Delaware, Lackawanna and Western RR Co. acquired possession of this road on Aug. 16, 1892, By the purchase of its stock. Its operations are included in those of the D., L. & W. RR. Co. Capital stock, $10,000; profit and loss, $7,485 — total, $17,485, representing cost of rood. LACKAWANNA AND MONTROSE RR Alford to Montrose, Pa., 10.48 m. ; total track (steel; 68* Ibs.), 11.79 miles. HISTORY. — Chartered Sept. 30. 1889; road opened Aug. 24, 1891. Rolling stock supplied by the D., I.. & W. RR. Co. OPERATIONS, year ending Dec. 31, 1902 (see Sec. 7 in D., L. & W. statement). — Gross earn- ings, $22,658.04. Operating expenses and taxes, J2i.204.95. Deficit, $1,636.91. Add. dividend paid, $3,915. Total deficit. $5,551.91. BALANCK SHEET, Dec. 31, 1902. — Capital stork ($150.000 auth. ; $50 shares), $130,500; profit and loss, $15.378 — total, $145,878. Contra : Cost of road, $130,790 ; other assets, $15,088. CORPORATE OFFICERS. — E. E. Loomid, Pres., Scranton, Pa. ; Fred F. Chambers, Sec. & Tress., New York, N. Y. General Office, Mont- rose, Pa. SIS^KX RR — Junction with Morris and Es- sex RR. near Stanhope, N. J., to Franklin, X. .(., 24.24 m. ; Lafayette to Branchville, N. J., 6.31 m. — total, 30.55 m. ; total track (steel, 35.50 in.). 37.64 miles. HISTORY. — Chartered Feb. 6, 1853; main line opened Dec. 11, 1854. (See Manual for 1900, rage 92.) •OPERATIONS, year ending Dec. 31, 1902 (see Sec. 7 in D., L. & W. statement). — Gross earn- ings. $168,457.39. Operating expenses, $105,209.90. Net earnings, $63.247.49. Payments : Taxes, $4,656.64 ; interest on bonds, $16,485 ; dividends (Aug., 1902, 2 p. c.), $32,772 — total, $53,913.64. Sur- plus, $9,333.85. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $1,638,600; funded debt (1st 7s of April 1, 1903), $235,500 — total, $1,874,100. Contra: Cost of road and equipment, $1,92&,025.21. CORPORATE OFFICERS.— W. H. Truesdale. Vice-Pres. ; Fred F. Chambers, Treas. ; A. D. Chambers, Sec., New York, N. Y. General Office, 26 Exchange Place, New York, N. Y. SYRACISE AND BALDWINS VILLE RY. — Connection with D., L. & W. system to village of Baldwinsville, N. Y., 0.95 m. ; total track (steel; 56 Ibs.), 1.95 miles. HISTORY. — Chartered Jan. 27, 1891, as suc- cessor to the Syracuse and Baldwinsville RR. Co. (See Manual for 1894, page 13%.) Controlled by the D., L. & W. RR. Co., through ownership of stock. This road is practically abandoned, not having been operated since July, 1892. BALANCE SHEET, June 30, 1P02. — Capital stock ($8,620 common and $85,640 preferred; $100 shares), $94,260; funded debt (1st 4s of July 1, 1940), $115,000; Interest on funded debt due and accrued, $43,882 — total, $253,l'i2. Contra : Cost of road, $190,932 ; 1st mtge. bonds on hand, $8,000 ; due from D., L. & W. RR. on open account, $3,011 ; profit and loss, $51,199 — total, $253,142. CORPORATE OFFICERS. — Presidency vacant ; Fred. H. Gibbens, Sec. & Treas. ; O. C. Post, Aud., New York,. N. Y. General Office, 26 Exchange Place, New York, N. Y. SYRACUSE, BINGHAMTON AND NEW YORK RR. — Geddes, N. Y., to Binghamton. N. Y., 80.95 m. ; 2d track, 31.98 m. ; sidings, 42.55 miles. Gauge, 4 ft. 8J in. Rail (steel, 142.15 m.), 60 to SO Ibs. HISTORY. — Chartered as Syracuse and Bing- hamton RR. Co., Aug. 18, 1851, and road opened Oct. 18, 1854. Reorganized, after foreclosure, April 30, 1857. Controlled by D., L. & W. RR. Co. OPERATIONS, year ending Dec. 31, 1902 (see Sec. 7 In D.. L. & W. statement). — Gross earn- ings, $943,963.28. Operating expenses, $737,580.36. Net earnings, $206,382.92. Payments r Interest on bonds, $137,620; taxes, $46,89473; dividends (8 p. c.), $200,000 — total, $384,514.73. Deficit. $178,131.81. BALANCE SHEET, Dec. 31. 1902. — Capital stock. $2,500,000; funded debt (consol. 7s of Oct. 5, 1906), $1,966,000 — total, $4.466,000. Contra: Cost of road and equipment. $4,648,613.24. CORPORATE OFFICERS. — W. H. Truesdale, Pres. ; Fred F. Chambers, Sec. & Treas., New York, N. Y. General Office, 26 Exchange Place. New York, N. Y. Samuel Sloan.. New York, N. Y. F. W. Vanderbilt " W. W. Astor... E. Higgins Jas. Stillman M. T. Pyne H. C. Fahnestock 12. Board of Managers, D., L. d W. RR. Co., elected February 24, 1903. SAMUEL SLOAN, Chairman of Board New York, N. Y. H. A. C. Taylor . New York, N. Y. H. McK.Twombly.New York.N. Y. J.R.Maxwell.. G. F. Baker... W. Rockefeller. Frank Work New York, N. Y. | John D. Rockefeller, Jr... New York, N. Y. WILLIAM H. TBUESDALE, President New York, N. Y. E. E. Loomis, V 'ice-President in charge of Coal Dept... " " " B. D. Caldwell, Vice-President in charge of Traffic Dept. " " " Bee. & Treas. — F. F. Chambers.. New York, N. Y. General Auditor — O. C. Post New York, N. Y. GENERAL OFFICE 26 Exchange Place, New York, N. Y. POOR'S MANUAL OP RAILROADS. 89 DELAWARE, SUSQUEHANNA AND SCHUYLKILL RAILROAD COMPANY. 1. Main Line Owned. — Drifton, Pa., to Gowen, Pa 30.63 miles. Branches : To Mines, Breakers, etc 17.60 LEASED LINE: Tamaqua, Hazleton and Northern BR.: At Koan, Pa 0.41 " T ,.-•< Lchigh Valley RR.: Long Run Jc. to Lattimer Breakers, Pa. 8.70 " : \ Lehigh Valley RR.: Lumber Yd. Conn, to Perth Amboy, N. J. 124.18 " Total length of lines operated, June 30, 1902 181.52 miles. Sidings (owned, 28.28 m. ; leased, 1.77 m.), 30.05 miles. Gauges, 4 ft. 8y, in. and (section of main line from Deringer to Gowen, 1.97 m., and Oneida Breaker Branch, 2.28 m.— total, 4.85 m.), 4 ft. 0% in. Rail (steel — owned, 72.54 m.; leased, 2.18 m.— total, 74.72 m.), 60 and 80 Ibs. 2. History.— Chartered April 14, 1890; road opened, as above, Feb. 15, 1892. The funded debt of the company was retired by action of the sinking fund, $50,000 in April, 1901; $225,000 in October, 1901; $75,000 in December, 1901; and $250,000 in Jan- uary, 1902. •3. Rolling Stock, June 30, 1902. — Locomotives, 23. Cars — passenger, 1; com- bination, 2; freight (flat, 9; coal, 1,479), 1,488; service, 18— total, 1,510. 4. Operations, for year ending June 30, 1902. — Train mileage — passenger, 34,346; freight, 194,263; mixed, 15,815; other, 6,271 — total, 250,695 miles. Passengers carried, 23,091; carried one mile, 194,325; average mile rate, 2.92 cents. Tons freight moved, 1,486,218; moved one mile, 131,839,943; average ton-mile rate, 0.66 cent. Earnings — Passenger $5,680 65 Freight 869,438 80 Mail 479 20 Miscellaneous ., 64162 Total ($4,827.24 per mile) $876,240 27 Expenses — Maint. Way and Struct $52,58210 Maintenance of Equipment 83,739 84 Conducting Transportation 555,654 07 General 60,61935 Total ($4,146.07 per mile) $752,59536 Net earnings (14.11 p. c.), $123,644.91. Payments: Interest on bonds, $14,029.17; rentals, $376.16; taxes, $10,080.01; dividends (2y2 p. c.), $37,500; general deprecia- tion, $61,659.57— total, $123,644.91. Surplus, June 30, 1901, $464,769.79. Paid 2 p. c. dividend out of the profits of the company to June 30, 1901, $30,000; charged to gen- eral depreciation, $434,769.79— total, $464,769.79. 5. Capital account, income, etc., for the eight fiscal years ending June 30: Years. 1895 Capital Stock. $ . . . 1,500,000 B nded Debt. $ 600,000 Cost and Inv'tm'ts $ 2,151,165 Road Oper'd Miles. 182.64 ( ] 1 3ross Earn- ings. $ ,241,379 Net. Earn- ings. $ 302,002 Inter't 1 Paid. $ 36,000 Divid'ds Paid. $ 400,000 Total Ba)ance meanyt"s. <"»-> S S 450,456 — 148,454 1896 1,500,000 600,000 2,146,603 182.64 1 ,218452 219,130 36,000 66,901 +152,229 1897 . 1,500,000 600,000 2,159,987 182.64 1 ,045,202 207,989 36,000 62,521 -t- 145,468 1898 1 500 000 600 000 2 153 558 181 00 1 091 186 141,941 36,000 46,780 + 95,161 1899 . . . . 1,500,000 600,000 2,150,921 181.74 1 ,123,398 183,064 36,000 56,979 -f 126.085 1900 . . . 1,500,000 600,000 2,132,357 180.95 1 ,142,463 180,162 36,000 60,000 109,850 + 70,312 1901 . 1,500.000 550,000 2,132,357 180.95 1 ,145,262 152,062 35,267 60,000 105,846+ 46.216 1902. . . 1.5OO.OOO 2.132.357 181.52 876.240 123.645 14.02!) 07 :.0<) 91,985+ 31,660 6. General Balance Sheet, June 30, 1902.— Capital stock ($50 shares), $1,500,- 000; current liabilities, $110,804.15; general depreciation, $546,429.36— total, $2,157,- 233.51. Contra: Cost of road and equipment, $2,132,356.86; materials, etc., $14,242.38; cash, $2,252.77; current accounts, $8,381.50 — total, $2,157,233.51. 7. Directors (elected Jan. 12, 1903).— Alexander B. Coxe, Eckley B. Coxe, Jr., Drifton, Pa. ; Irving A. Stearns, New York, N. Y. ; Henry B. Coxe, Henry B. Coxe, Jr., Philadelphia, Pa.; S. P. Wolverton, Sunbury, Pa.; Alexander Brown Coxe, Paoli, Chester County, Pa. IRVING A. STEARNS, President New York, N. Y. Treasurer — J. BrJnton White. ...New York, N. Y. | Secretary — Arthur McClellan Drifton, Pa. GENERAL OFFICE AND AnnnEss Drifton, Luzerne County, Pa. New York Office 143 Liberty Street, Manhattan. 90 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. ERIE RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBEBS or SECTIONS. Bonds and Stocks Pledged under 1st Consol Mtge 14 Bonds Underlying the Gen. Lien Bonds 15 Capital Stock, Description of 13 Convertible Gold Bonds 14a Directors and Officers 21 Earnings and Expenses, June 30, 1902 8 Earn., Exp., etc., 1896-1902 10 Equipment Trust Obligations 17 Erie Coal Companies, Gen. Bal. Sheet, June 30, 1902 16 Floating Equip., Details of. . 7 Funded Debt, Details of 14 Gen. Bal. Sheet, June 30, 1902. 12 Gen. Bal. Sheet, 18%- 1902 10 History 5 Income Acct., June 30, 1902. . 8 Income Acct., years 1896-1902. 10 Int. in N. Y., S. & W. RR. Co. 2 Int., Rental, etc.. Details of. 9 Leased Lines, Statements of. 20 Leased Lines, Summary of. . 3 Mile. Operated, June 30, 1902. 1 Operations, 1896-1902 10 Profit and Loss Account 11 Proprie'y Rds., State, of. 18 & 19 Rolling Stock, Details of.... 6 Securities Pledged under 1st Consol. Mtge 14 Trackage Contracts 4 Voting Trust 13 1. Mileage, June 30, 1902.— A. OWNED ABSOLUTELY (total, 776.98 miles). Main Line: Piermont to Dunkirk, N. Y 446.64 miles. Weehawken Branch: Bergen Tunnel, Jersey City to N. J. June. RR 0.43 Newburgh Short Cut : Arden Junction to Vail's Gate Junction, N. Y 12.64 Newburgh Branch: Greycourt to Newburgh, N. Y 18.73 Buffalo Division: Hornellsville to Buffalo, N. Y 92.16 Attica Section : Painted Post via Avon to Attica, N. Y 109.01 Niagara Falls Branch: East Buffalo to Suspension Bridge, N. Y 24.01 International Bridge Br.: Junction to International Bridge, N. Y 4.50 Southwestern Division : Buffalo Creek Junction to Jamestown, N. Y 66.36 Edgerton Branch: Erie Breaker to Edgerton Breaker, Pa 2.50 B. ENTIRE CAPITAL STOCK OWNED (total, 883.18 miles). Long Dock Co.'s RR 2.56 m. Newark and Hudson RR &62 m. Paterson, Newark ft N. Y. RR... 11.33m. Bergen County RR 9.82 m. Arlington RR 1.16m. Bergen and Dundee RR 2.45m. Jefferson RR . . 44.81 m. Moosic Mt. & Carbondale RR 4.21 m. Brought forward 81.97 Erie and Black Rock RR 1.14 Conesus Lake RR 1.61 N. Y., L. E. & W. C. & RR. Co.. 52.34 Nypano RR 421.82 Chicago and Erie RR 249.57 Erie and Wyoming Valley RR. 59.13 Pa. Coal Co. RR., Hawley Br. 15.61 C. MAJORITY OF CAPITAL STOCK OWNED (total, 158.23 miles). N. Y. & Greenwood Lake Ry 51.66 m. Middletown and Crawford RR 10.22m. Elmira State Line RR.., 6.51m. Brought forward 68.39 Tioga RR. ( inc. A. & P. C. RR. ) . 58.43 Buffalo, Bradford A Pitts. RR. 31.41 D. LEASED LINES (total, 277.27 miles). Paterson and Hudson River RR. . 13.86m. Paterson and Ramapo RR 14.03m. Union RR 0.79 m. Montgomery and Erie RR 10.43m. Goshen and Deckertown RR 11.64m. Rochester and Genesee Vy. RR. .. 18.40m. Avon, Geneseo A Mt. Morris RR. 15.35m. Brought forward 84.50 Clevel. A Mahoning Vy. Ry. . . 123.07 Westerman RR 2.09 Sharon Ry 33.07 Youngstown ft Austintown Ry. 8.49 Northern RR. of New Jersey . . 26.05 E. TRACKAGE RIGHTS (total, 58.08 miles). N. J. Junction RR. : Weehawken Br. to D. & H. Docks, Weehawken, N. J. . 3.02 Northern Central Ry.: Southport June, to State Line June., N. Y 2.31 Philadelphia and Erie RR.: \ J?hnsonburg to Brockwayville, Pa 27.76 ( Ridgeway to Daguscahonda, Pa 5.00 Chicago and Western Indiana RR.: State Line, Ind., to Chicago, 111 19.99 Total, on which returns in Sec. 7 are based 2,153.74 OWNED BUT NOT OPERATED: Tonawanda to Lockport, N. Y. (electric line) . 15.12 " LEASED BUT NOT OPERATED: Avon, Qeneseo and Mt. Morris RR 2.35 " TRACKAGE RIGHTS FOR THROUGH FREIGHT ONLY: Fall Brook Ry. : Corning, N. Y., to Newberry June., Pa 109.20 CONTR'D BY OWNERSHIP OF MAJORITY OF STOCK, BUT OPERAT'D SEPARATELY: New Jersey d New York RR. (see separate statement therefor) 36.87 m. Trackage: Qarnerville RR. ( see separate statement therefor ).. 1.00m. — 37.87 " Total mileage of Erie System, June 30, 1902 2,318.29 miles. POOR S MANUAL ERIE RR. CO. 91 Lines Not Operated. — The Lockport Branch is leased for the term of 999 years to the International Ry. Co., a street railway corporation. A section of the Avon, Geneseo and Mount Morris RR., within the village of Mount Morris, 2.35 miles in length, is leased to the Dansville and Mount Morris RR. Co., under an agreement dated Jan. 2, 1894, and terminable on thirty days' notice by either party. Summary of Track Mileage. — Statement of track mileage of the Erie Railroad System, June 30, 1902: Owned or Controlled Absolutely. . Majority of Capital Stock Owned Leased Lines Trackage Rights. First Second Third Fourth Side and Total Track. Track. Track. Track. Other Tracks. Track. M. M. M. M. • M. M. 1,675.29 533.24 0.10 0.06 1,047.10 3,255.79 195.10 23.00 71.54 289.64 279.62 116.07 il.77 11.77 228.32 647.55 168.28 30.81 48.55 247.64 Totals 2,318.29 703.12 11.87 11.83 1,395.51 4,440.62 Gauge, 4 ft. 8J/2 in. Rail — iron, 50 to 66 Ibs.; steel (owned, 2,033.07 miles), 36 to 90 Ibs. The single track railroads of this company and the Cleveland, Cincinnati, Chicago and St. Louis Ry. Co. parallel each other between Galion and Marion, O., a distance of about 20 miles. Under an agreement made in June, 1901, that section is operated jointly by the two companies as a double-track railroad, thereby greatly increasing the carrying capacity and the safety of operation of both railroads. 2. Interest in New York, Susquehanna and Western Railroad Company. — In addition to the controlled roads operated directly by it, the Erie RR. Co. controls the New York, Susquehanna and Western RR. Co. (statement for which see) by owner- ship of about 97 1-5 per cent, of its capital stock. The property is operated separately by its own organization. 3. Leased Lines. — The following is a statement of leased lines of the Erie RR. Co. on June 30, 1902, their terminal points and mileage, the dates and terms of the leases, and the annual rental charge. The Middletown and Crawford, the Elmira State Line, and the New York and Greenwood Lake are shown here as leased lines, although in the main statement of mileage they are classified as railroads controlled by ownership of a majority of the capital stock. This is done so as to show in one place the railroads which will sooner or later be consolidated into the Erie, and in the other the details of rentals for which the company is liable: TERMINAL POINTS Length. Dateof Lease. Term of Lease. Annual Rental Charge. From To Paterson & Hudson Rivrr Paterson i;,™.oo 3500.00 16,000.00 19,035.00 34,012.00 7,975.00 525,9(57.32 4.000.00 63,348.21 Xii.170.00 10,500.00 H.314.00 73,420.00 State Line, N Y Montgomery ft, Erie Ry Goshen A Deckertown Ry Montgomery, N. Y. . . . Goshen, N. Y Goshen, N. Y. Pine Island, N.Y.... Rochester, N. Y. ... Mt. Morris, N. Y Roch & Genesee Vv. RR Avon, N. Y Avon, N. Y See page 102 Westerman RR Sharon, Pa Seepage 102 Pa. State Line Youngstown & Aus'town Northern RR. of X..T Middletown A- Crawford RR Flmira State Line RR N. Y. & Greenwood Lake Ry Total Seepage 103 Bergen Jc., N. J Crawford Jc.,N.Y. ... State Line Jc.,N.Y. .. See page 101 Nyack, N.' Y.'.' '. Pine Bush, N. Y. . . . Pa. State Line 34801 925,141.53 4. Trackage Contracts. — For the use of the New Jersey Junction RR. tracks, the company pays a yearly rental of $6,001 ; for the use of the Chicago and West- ern Indiana RR. tracks, a proportion of the cost of maintenance and operation, amount- 92 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. ing to $181,020.22 for the year ending June 30, 1902; and for the other "rights," a percentage of earnings thereunder. By means of the Fall Brook Ry. tracks connection is made at Williamsport with the Philadelphia and Reading system, giving this com- pany a through line under its own control to and from the West to the Reading terri- tory. The Delaware and Hudson Co. uses this company 's tracks between Jefferson Junction, near Susquehanna, and Carbondale, Pa., and the Wabash RR. Co. uses the tracks between the two Niagara River bridges and Buffalo, N. Y., together with the terminals in Buffalo. 6. History. — Reorganization, Nov. 30, 1895, of the New York, Lake Erie and Western RR. Co., whose property and franchises, including its leasehold of the New York, Pennsylvania and Ohio RR. and its ownership of the Chicago and Erie RR., were sold under foreclosure on November 6, 1895. A detailed history of the system will be found in the MANUAL for 1897, page 419 et seq. It was decided to vest the reorgan- ized company, so far as practicable, with the direct ownership of the various properties comprised in the system, including the principal leased lines. In furtherance of this object the Buffalo and Southwestern RR. Co. was absorbed on Nov. 19, 1895; the Lockport and Buffalo Ry. Co. and the Erie International Ry. Co. on November 27, 1895. The securities of the Nypano RR. Co., a reorganization of the New York, Pennsylvania and Ohio RR. Co., were purchased in March, 1896. The Suspension Bridge and Erie Junction RR. Co. and the Buffalo, New York and Erie RR. Co. were absorbed on April 3, 1896; and a company formed on June 11, 1896, by the consolidation of the Union Steamboat Co. and the Union Dry Dock Co., was absorbed on June 30, 1896. It is in- tended to gradually absorb the rest of the subsidiary companies, and have the absolute title to the entire system vested ultimately in the Erie RR. Co. Sale of Dry Dock. — An advantageous offer having been received for the Union Dry Dock plant at Buffalo, the machinery, fixtures, docks and good will were sold during the year ending June 30, 1901, and the land occupied by the plant was leased for a term of years at an annual rental of 4% p. c. on its value, and all taxes and assessments, an option being given to the lessees to purchase at a fixed price. Purchase of Coal, Iron and Railroad Properties. — In order to protect the company's coal tonnage, and for other reasons, the entire capital stocks of the Pennsylvania Coal Co., Erie and Wyoming Valley RR. Co., Dunmore Iron and Steel Co. and Delaware Valley and Kingston RR. Co. were purchased on January 10, 1901. The Delaware Valley and Kingston RR. is a projected road from the Wyoming coal fields to the Hud- son River at Rondout, part of which is in course of construction. The purchased proper- ties were paid for with the proceeds from the issue of $32,000,000 of Pennsylvania collateral trust 4 p. c. bonds and $5,000,000 of 1st preferred stock. The lease of the Hawley Branch of the Pennsylvania Coal Company's RR. at a rental of $50,000 per annum was cancelled as a result of the purchase. The Pennsylvania coal property was taken over by the Erie RR. Co. as of January 16, 1901, and the Erie and Wyoming Val- ley RR. as of March 1, 1901. Erie Coal Companies. — With the exception of the directors' shares, the Erie RR. Co. owns the entire capital stock of the Pennsylvania Coal Co., Hillsdale Coal and Iron Co., Blossburg foal Co. and Northwestern Mining and Exchange Co., comprising what are called the Erie Coal Companies. A consolidated general balance sheet of these com- panies will be found in Sec. 16, showing their financial condition on June 30, 1902. The income account of the Erie RR. Co. (Sec. 8) is credited with $1,702,490.90 as the net revenue received from the coal companies at the close of the fiscal year. Capital Eeceipts and Expenditures since Reorganization.— Of the $2,750,655.22 of securities for construction purposes received from the Erie Reorganization Com- mittee, all except $94,000 have been converted into cash as follows: Buffalo and South- western. RR. 2d lien bonds, $115,200 sold for $126,720; Erie RR. prior lien bonds, $405,000 sold for $414,000; Erie RR. general lien bonds, $1,034,400 sold for $1,214,908.93; POOR S MANUAL — ERIE RR. CO. 93 New York and Greenwood Lake Ry. prior lien bonds, $364,055.22 sold for $385,570.22; Delaware and Hudson exclusive car trust certificates, $630,000, and car trust of New York certificates, $108,000, both sold at par— total, $2,656,655.22 sold for $2,879,199.15. In addition to these securities there have been certified by the trustee and delivered to the Erie RR. Co., to reimburse it for expenditures already made, $5,000,000 of the company's prior lien bonds and $2,000,000 of its general lien bonds. The $2,000,000 general lien bonds and $4,000,000 of the prior lien bonds have been converted into cash, the company realizing $1,634,111.11 from the sale of the former and $3,599,884.27 from the sale of the latter, or a total of $5,233,995.38. There remained in the treasury, applicable to construction purposes, $94,000 car trust of New York certificates and $1,000,000 Erie RR. prior lien bonds. The Erie RR. Co. received cash from all sources for construction and equipment purposes from December 1, 1895, to June 30, 1902, as follows: From sale of Erie and Wyoming Valley RR. stock, $5"00,000; in settlement with the National Transit Co. on account of an old claim, $500,000; from Erie Reorganization Committee, $4,343,850.13; from sale of securities received from Erie Reorganization Committee, $2,879,199.15; from sale of securities received from trustee, $5,233,995.38; from sale of P. C. & Y. RR. bonds, turned over to the company by the receivers of the New York, Lake Erie and Western RR. Co., $2,506; from sale of capital stock of the Northern RR. Co. of New Jer- sey, originally paid for by the Erie Reorganization Committee from construction funds, and sold by the Erie RR. Co., $457,867.50; on account of the sale of the Union Dry Dock franchises, etc., $200,000; returned by the English Government on account of special tax deposit by the Erie Reorganization Committee, $107,989.22; received to purchase Erie and Wyoming Valley RR. equipment, $230,227.05 — total, $14,455,628.43. During the same period expenditures were made as follows : For purchase of Northern RR. Co. of New Jersey stock, as explained before, $457,867.50; for new construction, $4,960,574.70; for new equipment, $9,001,887.15; for retirement of old New York, Lake Erie and West- ern car trusts, $1,729,611.68; for payment of mortgages on real estate, $65,000; dis- bursed on account of Union Steamboat Co. in liquidating its affairs and in building or acquiring additional property, $348,377.50; in liquidating the receivership of the New York, Lake Erie and Western RR., $124,972.43 — total, $16,688,290.96. This shows that to June 30, 1902, the company had expended $2,232,662.53 from its current cash for construction and equipment purposes, for which it was entitled to be reimbursed in part from the proceeds of the sale of the $1,000,000 prior lien bonds in the treasury arid from $1,000,000 general lien bonds, to which it was entitled, but which had not been obtained from the trustee. In addition to the above, the company had expended for construction on the Erie and Wyoming Valley RR., and on account of the Pennsylvania Coal Co. and the Dela- ware Valley and Kingston RR. properties, $363,126.51, for which it was entitled to be reimbursed from the proceeds of the sale of its Pennsylvania collateral bonds in the treas- ury. O. Rolling Stock, June 30, 1902. — Locomotives, 1,154. Cars, 54,238, as follows : Passenger 542 Baggage and Passenger 11G Baggage 47 Baggage and Express 36 Baggage and Mail 25 Postal 13 Express 83 Emigrant 18 Dining 6 Caf^ 7 Milk 16 Horse and Carriage 2 Business and Pay 10 Total Passenger Cars 951 Box 23,992 Furniture U9 Flat 1,830 Stock 881 Gravel Dumps SO Coal and Ore Side Dumps. 142 Gondola 23,594 Refrigerator 699 Butter, Cheese & Produce. 1,170 Horse 75 Wagon and Special 30 Total Freight Cars 52,592 Caboose 468 TooI.Derrick & Steam Hoist. 91 Snow-plows and Flangers ... 12 Steam Shovels 6 Scale Test 1 Pile Driver 3 Poling G Cinder 100 Miscellaneous 8 Total Service Cars 695 94 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. 7. Floating Equipment. — In New York Harbor; 8 ferryboats, 13 tugs, 6 ocean barges, 0 Sound barges, 3 steam barges, 1 steam cattle boat, 3 steam hoists, 18 open barges, 30 covered barges, 24 car floats, 421 canal and transfer boats and 2 steam wrecking pumps. On Greenwood Lake: 1 passenger steamer. On the Great Lakes (Union Steam- boat Co.) : 2 wooden and 6 steel steamers. 8. General Income Account, year ending June 30, 1902. Ean lug*— Railroad : Passenger $7,639,501 43 Freight and Coal 28,325,28875 Mali and Express 1,246,740 Jl Kents and Miscellaneous 1,197,695 OS Total ($17.833.73 per mile) $38,409,22537 Water Routes 2,032,82526 Shipping and Coal Storage Plants 169,447 24 Elevators, Stock Yards, etc 282.936 02 Gross Earnings $40,894,433 Net Earnings (34.21 p. c.) $13,988.90140 Interest on Securities Owned 241,93416 Interest and Discount 78283 Income from Erie Coal Companies. . . 1,702,490 90 Expenses— Railroad : Maintenance Way and Structures.. $3.694,216 41 Maintenance of Equipment 5.381,279 87 Conducting Transportation 14,610,164 fil General Expenses 934,464 82 Total ($11.431.33 per mile) $24,620,12571 Water Routes 1,939,44914 Shipping and Coal Storage Plants 130,66507 Elevators, Stock Yards, etc 215,29257 Operating Expenses $26,905,532 49 Additions and Improvements $249,501 50 Taxe-, 1,021.56620 Interest, Rentals, etc. (see Sec. 9)... 10.278,364 58 Dividends on 1st Preferred Stock 1,436,772 00 Balance to Credit of Profit and Loss. . 2,947,905 01 Total $15,934,109 29 Total $15,934,109 29 The gross earnings, operating expenses and net earnings are from the operation of the entire Erie System, exclusive of the New Jersey and New York RR. and the coal companies. With a view of determining the actual expense of maintaining and operating the railroad, inde- pendent of other operations in which the company is interested, and to conform to the best known (Continued on next page.) 9. Details of Interest, Rentals, etc., year ending June 30, 1902. Accrued Interest on Bonds (total, $8,396,891.08) : N. Y. & E. 1st mtge. bonds, $2,482,000, at 4 p. c N. Y. & E. 2d mtge. bonds, $2,149,000, at 5 p. c N. Y. & E. 3d mtge. bonds, $4,617,000, at 4 J p. c 207,76 N. Y. & E. 4th mtge. bonds, $2,926,000, at 5 p. c 146,30 N. Y. & E. 5th mtge. bonds, $709,500, at 4 p. c Buffalo Branch mtge. bonds, $182,600, at 4 p. c 7-30 E. Ry. Co. 1st consol. mtge. bonds, $16,891,000, at 7 p. c 1,182,370 0' N. Y., L. E. & W. 1st consol. funded coupon, $3,699,500, at 7 p. c 258,96 Newburgh & N. Y. RR. Co. bonds, $250,000, at 5 p. c 12,500 E. RR. Co. prior lien bonds, 4 p. c. on $35,000,000 1,400,000 00 E. RR. Co. general lien 4 p. c. bonds, $34,885,000 for 6 mos. and $35,885,000 for 6 mos ''.; 1,415,400 00 Buff. & S. W. RR. Co. 1st mtge. bonds, $1,500,000, at 6 p. c 90,000 00 E. RR. Co., B. & S. W. Div. 2d lien bonds, $1,000,000, at 5 p. c 50,000 00 Buff., N. Y. & E. RR. bonds, $2,380,000, at 7 p. c 166,600 00 Honesdale Branch bonds, $204,000, at 4J p. c 9,180 00 Honesdale Branch bonds, $96,000, at 6 p. c 5,760 00 Jefferson Branch bonds, $2,800,000, at 5 p. c 140,000 00 Bergen County RR. bonds, $200,000, at 6 p. c 12,000 00 N. Y., L. E. & W. D. & I. Co. bonds, $3,396 000, at 6 p. c 203,760 00 N. Y., L. E. & W. C. & RR. Co. bonds, $1,100,000, at 6 p. c 66,000 00 Long Dock Co. bonds, $7,500,000, at 6 p. c 450,000 00 Tioga RR. Co. 1st mtge. bonds, $239,500, at 5 p. c 11,975 00 Tloga RR. Co. Ext. mtge. bonds, $265,000, at 7 p. c 18,550 00 Elmira State Line RR. bonds, $160,000, at 7 p. c 11,200 00 N. Y.. P. £ O. prior lien bonds, $8,000,000, at 4J p. c 360,000 00 Erie RR. Pennsylvania collateral trust 4 p. c. bonds, $32,000,000 for 1 mo. ; $33,000,000 for 11 mos 1,316,666 67 Chic. & Erie 1st mtge. bonds. $12,000,000, at 5 p. c 600,000 00 Chic. & Erie non-cum. 5 p. c. income bonds 4,485 41 Chic. & Atl. Ry. Term, bonds, $300,000, at 5 p. c 15,000 00 Accrued Rentals : Union RR., $3,500 ; Paterson & Ramapo RR., $26,500 ; Paterson & Hudson RR., $48,400 ; Montgomery & Erie Ry., $16,000 ; Goshen & Decker- town Ry., $19,035 ; Rochester & Genesee Valley RR., $34,012 ; Middletown & Crawford RR., $10,500; Elmira State Line RR., $6,314; New Jersey Junction RR., $6,001 ; Avon, Geneseo 6 Mt. Morris RR., $7,975 ; Sharon Ry., $63,348.21 ; Westerman RR., $4,000 ; New Castle & Shenango Valley RR., $6,250 ; Cleve- land & Mahoning Valley Ry., $525,967.32 ; New York & Greenwood Lake Ry.. $73,420 ; Chicago & Western Indiana RR., $181,020.22 ; Northern RR. of New Jersey, $86,170 1,112,162 75 Proportions due leased lines worked on a percentage of earnings 215,697 00 Accrued Interest on Equipment Trusts 298,589 89 Accrued Interest on Mortgages 37,410 70 Accrued Interest on Construction 17,956 07 Pennsylvania Coal Co. Sinking Fund 199,657 09 ToUl $10.278,364 58 POOR S MANUAL — ERIE RR. CO. 95 practice, a change has been made in the method of accounting, under which the earnings and expenses of the rail lines are now shown separately from those of water routes, shipping and coal storage plants, elevators, stock yards, etc. The plan also provides for a separate account of addi- tions and improvements payable out of income, to be shown as a deduction from net earnings instead of being included in operating expenses. With this method of accounting it will be possible here- after to show the actual cost of maintenance and operation, and the extent of improvements made to the property. For the purpose of making comparison with previous years the condensed Income account in Sec. 11 has been prepared on the former basis. 1O. Traffic operations, income and general accounts, for seven years ending June 30: 1866 1897 1898 1899 1900 1901 1902 Average Miles Worked. 2,098.11 8,198,971 15,942,392 2,124.94 8,068,248 14,264,2% 2,124.34 8,128,690 15,186,023 2,109.44 8,176,805 15,277,747 2,109.44 8,106,198 13,978,134 2,111.58 8,241,102 13,300,036 2,153.74 8,514,974 12,632,532 Freight Train Mileage Total Revenue Mileage 24,141,363 15,333,568 385,074,051 21,785,922 11,641,128 10,144,794 4,009,162,138 2,683,186,295 1,325,975,843 I 6,049,754 16,766,499 6,660,447 2,168,787 22,332,544 14,763,343 370,028,876 20,122,086 10,566,780 9,555,306 3,939,679,175 2,658,587,494 1,281,091,681 S 5,742,807 16,609,449 6,867,135 2,277,640 23,314,713 15,001,653 383,390,464 23,643,425 12,701,740 10,941,685 4.556,349,307 3,117,611,646 1,438,737,661 $ 5,957,704 18,081,022 7,380,881 2,342,253 23,454,552 15,222,353 409,987,217 24,916,944 13,553,304 11,363,640 4,834,775,283 3,189,734,949 22,084.332 16,527,876 446,190,767 26,947,892 14,246,636 12,701,256 5,157,955,975 3 259 989 754 21.541,138 17.209,900 469,670,388 25,999,602 13,725,395 12,274,207 4,989,581,988 3,150,581,872 21,147,506 18.597,550 524,679,237 27,697,159 15,286,081 12,411,078 4,756,339,949 3,094,640,680' 1,661,669,269 $ 8,075,726 20,995,608 9,235,507 2.627.593 Freight (tons^ Moved Coal Freight (ton) Miles General Freight Coal Earnings— Passenger General Freight Coal 1,645,040,334 S 6,310,444 17,817,942 7,191,482 2,432,836 1,893,166,221 S 6,905,224 20,152,763 8,675,226 2,559,819 1,839,000,116 $ 7,278,054 20,247,910 9,037,086 2,539.252 Other 31,645,487 23,009,711 31,497,031 22,448,146 33,740,860 24,560,117 33,752,704 24,178,995 38,293,032 27,451,082 39.102.302 27,337,579 40,894,434 27.155,034 8,635,776 9,048,885 313,514 9,180,743 413,368 9,573,709 557,576 10,841.950 420,108 11,764,723 1,496,078 13,739,400 1,945,208 Other Receipts Net Income 9,362,399 884,097 1,311,365 6,533,616 281,302 9,594,111 877,921 1,382,300 6,465,832 234,141 10,131,285 990,931 1,448,625 6,842,679 195,352 11.262,058 997,523 1,391,784 6,921,623 287,698 13,260,801 1,069,395 1,362,892 7,541,730 463,627 718,386 15,684,608 1,021,566 1,327,860 8,3%,891 553,614 1,436.772; Taxes Lease Rentals Interest on Bonds Other Charges 1st Pref . Dividends Total Payments 9.010,380 352,019 14,82257 10,564 13 4,25844 74.08 p. c. 1.552 c. 0.5% c. 0.625 c. 0.536 c. $ 146,000,000 137,184,100 6,646,905 6,223,472 503,728 8,960,194 633,917 15,883 01 11,56129 4,321 72 72.79 p. c. 1.554 c. 0.558 c. 0.579 c. 0.51 Ic. S 171,090,300 137,044,100 5,723,810 6,248,624 1.137.645 9.477,487 653,798 16,00081 11,462 28 4,538 53 71.64 p. c. 1.539c. 0.517 c. 0.559 c. 0.437 c. S 171,140,800 140,418,100 4,351,821 6,815.971 1,791,443 9,598,628 1,663,430 18,15320 13,016 16 5,13704 71.69 p. c. 1.548 c. 0.559 c. 0.618 c. 0.457 c. S 171,240,200 141,418,100 5,435,061 6,857,979 3.454,874 11,156,030 2,104,770 18,51803 12,946 50 5,571 53 69.91 p. c. 1.550 c. 0.587 c. 0.645 c. 0.493 c. $ 176,271,300 175,904,100 7,095,115 7,103,028 6,278,030 12,736,703; 2,947,905 18.987 61 12,60832 6,379 29 66. 40 p. c. 1.539 c. 0.635 c. 0.677 c. 0.556 c. $ 176,271,300 178,932,100 K,tiO:>,2*0 7.773,875 8,449.615 Balance Surplus Gross Earnings per Mile Operating Expenses per Mile. . . 15,08283 10,96688 4,11595 72.71 p. e. 1.571 c. 0.584 c. 0.625 c. 0.502 c. S 140,000,000 137,704,100 6,416,684 5,197,826 151.709 Expenses to Earnings Earnings per Pass, per Mile .... Earnings per Ton per Mile General Freight Rate Coal Rate Capital Stock Funded Debt Other Obligations Current Liabilities, etc Total Liabilities 295,470,319 286.355,165 1,021,461 382,899 2.725,332 4,985,462 296.558.205 285.100.510 995,870 433,3% 4,698,459 5,329,970 321,244,479 285,361,789 1,046,869 486,878 29,842,028 5,506,918 324,518,135 288,876,916 1,072,336 543,660 27,807.372 6,217,851 328,406,214 292,193,321 2,004,402 603,943 27,528,180 6,076.368 372,651,573 346,710,304 2,043,665 667.944 15,151,523 8,078,137 380,029.170 351.216,818 2,193,447 735,892 17.757,990 8.125,023 Road and Equipment Materials and Supplies C. 4 W. I. RR. Sinking Fund . . Cash and Other Assets Total Assets 295,470,319 2961558,:.>0.r, 321,244,479 324,518,135 328,406,214 372,651.573 380,029,170 The reorganized company commenced operations on Dec. 1, 1895, and its first report was for the seven months ending June 30, 1896. As the operations for such a period would be of little value in a comparison by fiscal yeara the operations for the entire year 96 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. ending June 30, 1896, of practically the same mileage as was operated during the follow- ing fiscal years, are given in place of them. 11. Profit and LOSS Account, June 30, 1902. — Credit balance, June 30, 1901, $6,278,030; surplus income for year, $2,947,905.01; miscellaneous credits, $352.89 — total, $9,226,287.90. Deductions: Dividend No. 1 on 1st preferred stock, payable Aug. 30, 1901, declared out of the surplus for half year ending June 30, 1901, $718,386; various charges, account of bad debts, etc., $58,286.47 — total, $776,672.47. Credit balance, June 30, 1902, $8,449,615.43. 12. General Balance Sheet, June 30, 1902. Capital Stock — First Preferred Non-cumulative $47.892,400 00 Second Preferred Non-cumulative 16,000,000 00 Common 112,378,900 00 — $176,271,300 00 Bonded Debt — Erie RR. Co 142,671,600 00 Leased Lines 23,960,500 00 Chicago & Erie RR. Co 12,300,000 00 — 178,932,100 00 Construction Obligations — Erie RR. Co 488,177 18 N. Y., L. E. & W. RR. Co 48,000 00 — 536,177 18 Mortgages on Real Estate 763,325 00 Equipment Trusts Outstanding 7,302,777 95 Interest and Rentals Accrued, not Due 1,614,978 45 Dividend No. 3 on 1st Preferred Stock, Payable Aug. 30, 1902. 718,386 00 Reserve Funds 389,853 93 Accrued Pennsylvania Coal Co. Sinking Fund 306,401 44 Current Liabilities — Interest on Bonds Due and Unpaid 1,725,360 72 Interest on Equipment Due and Unpaid. . . 49,140 71 Rentals on Leased Lines Due and Unpaid. . 153,764 85 Interest on Construction 3,307 08 Interest on Mortgages 5,286 75 Pay Roll Account 1,387,724 45 Audited Vouchers 1,259,786 29 Due Connecting Lines 159,884 04 — 4,744,254 89 Profit and Loss 8,449,615 43 Total Liabilities $380,029,170 27 PEB CONTRA. Cost of Road and Equipment as Reorganized — Erie RR. and Leased Lines $244,486,709 86 Securities Pledged under First Consolidated Mortgage Deed.. 65,366,850 00 Securities Pledged under Pennsylvania Collateral Trust Deed. 20,010,000 00 Securities Pledged under Chicago and Erie First Mortgage Deed 1,240,000 00 — $331,103,559 86 Additions since Dec. 1, 1895, under Reorganization Plan : Construction 5,811,878 39 New Equipment 14,301,380 24 — 20,113,258 63 Total Cost of Road and Equipment $351,216,818 49 New York and Greenwood Ry. Account of Construction aud Equipment 396,100 42 Miscellaneous Securities Owned — Held for General Purposes. . . $2,216,518 20 Held for Const. Purposes.... 2,344,000 00 To be Pledged under 1st Con- sol. Mtge. Deed 578,926 00 — 5,139,444 20 New York, Susquehanna and Western RR. Capital Stock : Preferred : 6,262,400 00 Common 5,748,900 00 — 12,011,300 00 Materials and Supplies on Hand 2,193,447 00 Chicago and Western Indiana Sinking Fund 735,892 29 Penna, Collateral Sinking Fund — $222,000 Bonds Redeemed. . . . 211,115 63 Balance of Cash in Fund 29 74 — 211,145 37 Total Plant and Invested Assets $371,904,147 68 Line Traffic Association and Agency Funds 29,282 59 Due from Subsidiary Companies 563,293 11 Insurance and Expenses Paid, not Accrued 34,898 43 Current Assets — Cash in hands of Treasurer $4,617,271 60 Cash in transit from Agents and Conductors. . 875,740 80 Due from Agents and Conductors 633,915 70 Due from United States Government 118,405 68 Due from Companies and Individuals 1,252,214 68 — 7,497,548 46 Total Assets $380,029,170 27 13. Capital Stock and Dividend*. — The capital stock authorized is $177,000,000, «on- sistlng of $48,000,000 1st preferred stock, $16,000,000 2d preferred stock, and $113,000,000 com- mon stock. The 1st preferred stock is entitled to 4 p. c. non-cumulative dividends, payable out of net earnings before any payments can be made on either second preferred or common stock. The 2d preferred stock is entitled to 4 p. c. non-cumulative dividends before any payment can be made on common stock. All classes of stock (except 100 shares of common) are deposited with J. P. Morgan, Louis Fitzgerald, ana Sir Charles Teunant, as voting trustees, to be held by them and their Railroad Map of New Jersey and Pennsylvania. American Bank Note Company 78 TO 86 TRINITY PLACE NEW YORK [CABLE ADDRESS, "BANKNOTE NEWYORK"] BUSINESS FOUNDED 1793 AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARO THEO. II. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE COPYRIGHT, 1903, BY POOR'S RAILROAD MANUAL CO. Poor's Manual— Railroad Map of the United States, 1903. IKCHAVIO iv /mtmON »AHK MOTI CO., NEW YOR» NEW JERSEY AND PENNSYLVANIA. Railroad Map of New Jersey and Pennsylvania. PENNSYLVANIA RAILROAD. DIRECT THROUGH LINE TO THE West, South, Southwest, and Northwest. THROUGH PULLMAN VESTIBULE SLEEPING CARS FROM THE CITIES OF THE EAST TO CHICAGO, ST. LOUIS, CLEVELAND, CINCINNATI, INDIANAPOLIS. LOUISVILLE, WASHINGTON, ATLANTA, NEW ORLEANS, JACKSONVILLE. A Magnificent Four-Track Railway, laid with Steel Rails and Stone Ballasted, and protected from accident by the most approved appliances of modern times, over which run daily between New York and Chicago, THE CELEBRATED PENNSYLVANIA LIMITED AND THE CHICAGO LIMITED, Of Pullman Vestibule Drawing-room, Sleeping, Dining, Smoking, and Library Cars, heated by Steam and lighted by Stationary and Movable Electric Lights. W. W. ATTERBURY, Gen. Man. J. R. WOOD, Q. P. A. POOR S MANUAL BRIE RR. CO. 97 successors, jointly, until the first preferred stock shall have received 4 p. c. cash dividends in one year, although the voting trustees may, in their discretion, deliver the stock at any earlier date Dividends of 1J p. c. each were paid on the 1st preferred stock on Aug. 30, 1901 Peb 28 1902 and Aug. 30, 1902. It is provided that no additional mortgage can be put upon the property nor the amount of either class of preferred stock be increased, without the consent of a majority of the whole amount of each class of preferred stock and of such amount of common stock as shall be represented at any meetings of stockholders which may be called for the purpose of voting on these questions, the holders of each class of stock voting separately. The company reserves the right to redeem at any time either or both classes of its preferred stock at par in cash if allowed by law 14. Funded Debt. — The funded debt outstanding on June 30, 1902 — total $178 932 100 as per general balance sheet — consisted of the several issues of bonds listed in the following statement Additional particulars respecting any issue will be found in the paragraph relating thereto joined to the statement. Leased Lines ($23,960,500). 17,500,000 Long Dock 1st gold 6s of Oct 1 1935 204,000 Honesd. Br. 4Js of July 1, 1927, int. J &J 96,000 Honesd. Br. 6s of Jan. 1, 1929, int. J & J 2,800,000 Jeff. Branch 1st gold 5s of Jan. 1, 1909. 200,000 Uergen County 6s of April 1, 1911, int. A & O 3,396,000 N. Y., L/B. & W., D. & I. 6s of 1913, int J. & J. 1,100,000 N. Y., L. E. & W.( C. & RR. 6s of 1922 int. M. & N. 239,500 Tioga 1st gold 5s of Nov. 1. 1915, int. M. & N. 265,000 Tioga Ext. 7s of Oct. 1. 1905, int. A. & O. 160,000 E. S. L. RR. 1st 7s of Oct. 1, 1905, int. A. & O. 8,000,000 N. Y., P. & O. Prior Lien gold 4Js of 1935. Erie RR. Co. ($142,671,600). $2,482,000 1st 4s (ext.) of May 1, 1947, int. M. & N. 2,149,000 2d gold 5s (ext.) of Sept. 1, 1919, int. M. & S. 4,617,000 3d gold 4|s (ext.) of Mar. 1, 1923, int. M. & S. 2,926,000 4th gold 5s (ext.) of Oct. 1, 1920, int. A. & O. 709,500 5th gold 4s (ext.) of June 1, 1928, int. J. & D. 182,600 Buffalo Br. 4s (ext.) of July 1, 1931, int. J. & J. 16,891,000 1st consol. gold 7s of Sept. 1, 1920. 3,699,500 1st con. (N. Y., L. E. & W.) gold 7s of Sept. 1, 1920. 35,000,000 Prior Lien gold 4s of Jan. 1, 1996, int. J. & J. 35,885,000 Gen. Lien gold 4s of Jan. 1, 1996, int. J. & J. 250.000 N. & N. Y. 1st gold 5s of Jan. 1. 1929. 2,380,000 B. N. Y. & E. gold 7s of June 1, 1916. 1,500,000 B. & S. W. 1st gold 6s of July 1, 1908. 1,000,000 S. W. Dlv. 2d gold 5s of July 1, 1908. 33,000,000 Pa. Coll. Tr. gold 4s of Feb. 1, 1951. New York and Erie RR. Bonds. — The 1st, 2d and 3d mtge. bonds are secured in the order of . their priority on the main line from Pierrnont to Dunkirk ; the 4th and 5th mtge. bonds are secured on the main line and also on the Newburg Branch. Buffalo Branch Gold Bonds. — Secured on the part of the Buffalo Division extending from Hor- nellsville to Attica, N. Y., 60.79 miles. Erie Ry. First Consolidated Mortgage Gold Bonds. — Secured on the main line from Piermont to Dunkirk and on the branches to Newburg and to Attica, in all 526.29 miles, but subject to the liens of the prior mortgages ; also on various leasehold interests in 213.13 miles of road, subject to prior mortgages aggregating $2,960,000. N. Y.} L. E. d W. RR. First Consolidated Funded Coupon Gold Bonds. — Secured same as Erie Ry. 1st consol. mtge. bonds. Erie RR. First Consolidated Mortgage Gold Bonds. — Secured on the entire property of the com- pany, whether now owned or hereafter acquired, but subject to the liens of prior mortgages. Addi- tionally secured by deposit in trust of securities of subsidiary companies to the amount of $65,366,- 850, as follows : Chicago «£ Erie RR. ($12,300,000). 12,000,000 C. & E. 1st gold 5s of May 1, 1982. 300,000 C. & A. Term, gold 5s of July 1, 1918. STOCKS. Total Amount Amount. Pledged. $ $ Jefferson RR. Co 2,095,450 2,095,450 Buff., Bradford & Pitts. RR. Co. 2,286,400 2,204,900 Bergen County RR. Co 200,000 200,000 Newark & Hudson RR. Co 250,000 250,000 Middletown & Crawford RR. Co. 122,200 120,650 Paterson. Nwk. & N. Y. RR. Co. 250,000 250,000 Bergen & Dundee RR. Co 40,000 40,000 Long Dock Co 800,000 800,000 N.Y..L.E.&W. Docks & Imp. Co. 604,000 604,000 Buffalo Creek RR. Co 250,000 125,000 Chicago & Erie RR. Co 100,000 100,000 Pavonia Ferry Co 100,000 100,000 Hillside Coal and Iron Co 1.000,000 1,000,000 N. W. Mining and Exchange Co. 500,000 500,000 Blossburg Coal Co 1.000,000 1,000.000 Tioga RR., preferred 189,700 189,700 Tioga RR., common 391,200 390,900 Elraira State Line RR. Co 90,200 69,200 Arnot & Pine Creek RR. Co.... 255,000 255,000 Conesus Lake RR. Co 18,750 18,750 STOCKS Total Amount Amount. Pledged. Nypano RR 20,000,000 19,999,100 Total Stocks 30,542,900 30,312,650 BONDS. Buff.. Bradford & Pitts. RR.. 580,000 580,000 Middletown & Crawford RR. . 66,000 57.200 Newark & Hudson RR 250,000 250,000 Paterson, New'k ft N. Y. RR. . 500,000 499,000 N.Y..L.E.&W. Dks. & Imp. Co. 4,000.000 604,000 N.Y..L.E. & W. Coal & RR.Co. 3,000.000 1,900,000 Susp. Bridge & Erie Jc. RR.. 1,000,000 1,000,000 Chicago & Erie RR 10,000,000 9,899.000 Nypano RR 20,000,000 20,000,000 Tioga RR. 3d Rail 125,000 125.000 Lockport & Buffalo Ry 140,000 140,000 Total Bonds 39,661,000 35,054.200 Total Stocks and Bonds. . . 70,203,900 65,366,850 The bonds are practically, either by mortgage or by collateral trust, a first lien upon the com- pany's principal coal properties (except the Penna. Coal Co.) upon its water transportation lines, including valuable terminal properties appurtenant thereto, and upon a number of local lines in New Jersey and near Buffalo; a second lien (subject only to the mortgages securing some of the divisional bonds listed in the statement of funded debt) upon the remaining coal properties and tho railroads leading to all the coal properties, upon the terminals at Jersey City, upon the Buffalo, New York and Erie RR. (the main line to Buffalo), and the terminal properties in Buffalo other than those upon which it is a first Hen, and upon the line from Salamanca to Chicago ; and a general lien 98 POOR'S MAXITAL OF RAILROADS — MIDDLE ATLANTIC GROUP. upon the lines of the original Brie Ky., between Piermont and Dunkirk. Tbe mortgage authorizes $176,000,000 of bonds, $35,000,000 of them being prior In lien to the rest, which are designated general litvi bonds. All the prior lien bonds have been issued, but $1,000,000 of them were held in (he treasury of the company on June 30, 1902. On the same date there remained unissued $104.- 115,000 of the general lien bonds, $15,000,000 of them to be issued only for new construction and at the rate of not more than $1,000,000 a year, and the rest only for the retirement of prior liens and the purchase of capital stock of subsidiary companies. (See MANUAL for 1896, page 532.) After the expiration of the voting trust under which the capital stock of the company is pooled, voting power will attach to these 1st consol. mtge. bonds at the rate of ten votes for every $1,000 of bonds. Newburgh and New York RR. Gold Bonds. — Secured by first mortgage on the line from Arden Junction to Vail's Gate Junction, N. Y., 12.64 miles. Buffalo, New York and Erie RR. Gold Bonds. — Secured by first mortgage on the line from Painted Post, near Corning, to Buffalo, N. Y., 140.25 miles. Buffalo and Southwestern First Mortgage Gold Bonds. — Secured on the line from Buffalo Creek Junction, Buffalo, to Jamestown, N. Y., 66.36 miles. Buffalo and Southwestern Division Second Lien Cold Bonds. — Issued by the Erie RR. Co. in the purchase of the Buffalo and Southwestern RR. Secured by a second mortgage on that line. Pennsylvania Collateral Trust Gold Bonds. — These bonds are a direct obligation of the Erie RR. Co., and are secured by the deposit in trust of the capital stocks of the Pennsylvania Coal Co., Erie and Wyoming Valley RR. Co. and Delaware Valley and Kingston Ry. Co., and of 51 p. c. (66,300 shares of preferred and 66,300 shares of common) of the total outstanding capital stock of the New York, Susquehanna and Western RR. Co. As additional security it is provided in the trust indenture that the Erie RR. Co. shall appropriate and pay annually to a sinking fund the sum of ten cents for every ton of coal sold and delivered through the previous year from the mines of the Pennsylvania Coal Co. Such sinking fund is to be applied to the purchase of bonds of this issue at not exceeding "105 p. c. and accrued interest, bonds to be drawn by lot if not offered at the price stated. The bonds so purchased or called for the sinking fund will be kept alive, and the subse- quently accruing interest thereon will be added to the amounts otherwise available for sinking fund purchases. Under this provision $222,000 of the bonds have been purchased, as shown by the general balance sheet. The total amount of bonds authorized by the indenture is $36,000,000, of which $3,000,000 of bonds are reserved to be issued only for the purpose of additions, betterments and improvements to the properties represented by the stocks pledged under the indenture. Long Dock Co. Consolidated (now First) Mortgage Gold Bonds. — Secured on the Bergen Tunnel, 677 acres of land and land under water, docks, terminals, etc., of an assessed value in 1901 of $6,792,917. They are redeemable at any time at 110. but only from proceeds of sale of land not necessary for company's use. No land has ever been sold. Honesdale Branch Bonds. — The 4J p. c. bonds are secured by a first mortgage and the 6 p. c. bonds by a second mortgage on the Honesdale Branch of the Jefferson RR., from Hawley to Hones- dale, Pa., 8.18 miles. Jefferson Branch Gold Bonds. — Secured by a first mortgage on the Carbondale Branch of the Jefferson RR., from Lanesboro' to Carbondale, Pa., 36,51 miles. Bergen County Bonds. — Secured by a first mortgage on the line from Rutherford Junction to Rldgewood Junction, N. J., 9.82 miles. N. Y., L. E. & W. Docks and Improvement Co. Bonds. — Secured by first mortgage on the prop- erty of the company named. A description of this property is in the MANUAL for 1899, page 116. It is situated at Weehawken, N. J., and constitutes the main freight terminal of the Erie RR. system. The lease to the Erie RR. Co. and the rentals accruing thereunder are pledged as further security for the bonds. The total issue is $4,000,000, but $604,000 bonds (Nos. 1,001 to 1,604 inclusive) are pledged under the first consolidated mortgage of the Erie RR. Co. J?. Y., L. E. & W. Coal and Railroad Co. Bonds. — Part of an issue of $3,000,000, the residue being deposited under the 1st consolidated mortgage of the Erie RR. Co. Secured to the amount of $1,500,000 by a first lien on the railroad property, and to the full amount by a first lien on the company's lands (see MANUAL for 1899, page 116). They are guaranteed, both as to principal and interest, by the Erie RR. Co., and the guaranty is endorsed upon the face of each bond. Tioga RR. Bonds. — The 1st mtge. bonds are secured on the line from Morris Run to Lawrence- ville, Pa., 30.6 miles ; the extension bonds on the line from Lawrenceville to the New York State Line, 12.23 miles. Elmira State Line Bonds. — Secured on the line from State Line Junction, N. Y., to Penn. State Line, 6.61 miles. N. Y., P. & O. Prior Lien Gold Bonds. — Secured by first mortgage on the property and fran- chises of the Nypano RR. Co. (See subjoined statement for that company.) Principal and interest payable in New York in United States gold coin, or in London in sterling money at the rate of four shillings to the dollar. Chicago and Erie Gold Bonds. — Secured by first mortgage on the line from Marion Junction, O., to the Illinois State Line near Hammond, Ind., 249.57 miles, including franchises, equipment, and appurtenances. Also secured by pledge of the contract with, and 10,000 shares of the capital stock of, the Chicago and Western Indiana RR. Co. and 2,400 shares of the capital stock of the Belt Ry. Co. of Chicago. Chicago and Atlantic Terminal Gold Bonds. — Secured by mortgage on certain station, shop, and other lands, and the buildings thereon, located in twelve of the fifteen counties through which the road runs. 14a. General MortKaare Convertible Gold Bonds. — For the purpose of completing and finishing or operating and improving Its railroad, or for any other of its lawful purposes, Including the acquisition of equipment or the funding or consolidation of existing obligations, the company executed a mortgage in favor of The Standard Trust Co. of New York, as trustee, to secure an issue of 4 p. c. 50-year gold bonds, dated April 1, 1903, with interest payable April 1 and Oct. 1, at its office or agency in the city of New York. The bonds are in coupon form, for $1,000 each, with privilege of registration as to principal alone or of conversion into fully regis- tered bonds ; and also in registered form, without coupons, for the principal sum of $500, $1,000 or such multiples of $1,000 as may be from time to time prescribed by the company. The amount of bonds authorized by the mortgage Is $50,000,000, issuable as to $10,000,000 forth- with, and the balance from time to time after Dec. 31, 1903, but in amounts not exceeding $10,000,000 a year, and under carefully guarded restrictions, as stated in the mortgage. The bonds may be converted into common stock of the company at any time after April 1, 1905, and POOR S MANUAL ERIE RR. CO. 99 before April 1, 1915, the first Issue of $10,000,000 at the price of $50 per share, and subse- quent Issues at prices to be fixed from time to time by the board of directors, the conversion • price in any case to be not less than the market value of the common stock on Feb. 11, 1903, and to be stated in every bond. The mortgage covers the entire property of the company, includ- ing the securities deposited under the First Consolidated Mortgage Deed and the Pennsylvania Collateral Indenture, and including the entire outstanding capital stock, amounting to $6,000, of the Penhorn Creek RR. Co., but subject to the liens of prior mortgages or deeds of trust. Among the improvements to be provided for by issue of these bonds are the following : The con- struction of new and modern ferry houses at Chambers and Twenty-third Streets, New York City ; the purchase of new ferryboats ; the building of a new and modern depot and ferry houses at Jersey City and the rearrangement of tracks and terminals at that point ; the construction of a new line through an open cut over Bergen Hill so as to avoid the use of the present tunnel for passenger trains ; important improvements at stations along the suburban lines and various Im- provements along the road, including construction of second and third tracks ; the provision of new machinery, tools and improvements for the shops, and the purchase of about 3,000 new freight cars, 50 new passenger coaches and 150 new locomotives. 15. Bonds Underlying the General Lien Bonds. — All issues of bonds listed in the statement of funded debt were issued or have been assumed by the Erie RR. Co., and all of them except the prior lien bonds and the general lien bonds issued under the 1st consolidated mortgage of 1895, and the Southwestern Division 2d lien bonds, which will continue as a separate lien on that division, will be replaced with equal amounts of general lien bonds reserved for that purpose, as will also the following: $400,000 Blossburg Coal Co. 1st 5s of Nov. 1, 1915; $130,000 Mont- gomery and Erie RR. 1st 5s of May 1, 1926 ; $40,500 Montgomery and Erie RR. 2d 5s of Oct. 1, 1927 ; $186,500 Goshen and Deckertown RR. 1st 6s of July 1, 1928 ; $60,000 Goshen and Decker- town RR. 2d 6s of Nov. 1, 1929 ; $8,800 Middletown and Crawford RR. 1st 4Js of April 1, 1921 ; $3,000,000 Cleveland and Mahoning Valley Ry. 1st consol. 5s of Jan. 1, 1938 ; $164,000 Sharon Ry 1st 4*s of June 1, 1919 ; and $250,000 New Castle and Shenango Valley RR. 1st 6s of July 1, 1917 — total, $4,239,800. The Blossburg Coal Co. bonds are secured on property situated at and near Blossburg, Pa. The capital stock of the company, $1,000,000, Is deposited under the 1st consoli- dated mortgage of the Erie RR. Co. The Middletown and Crawford bonds are part of a total of $66,- 000, of which $57,200 are pledged under the 1st consolidated mortgage of the Erie RR. Co. Addi- tional particulars respecting all of the bonds mentioned will be found in the appended statements for the respective companies and in the Ready Reference Bond List (see General Index). 16. General Balance Sheet, Erie Coal Companies, June 30, 1902. Real Estate and Buildings $6,261,02716 Capital Stock $7,500.00000 Tracks and Mine Openings 334,145 05 Machinery and Fixtures 378,472 15 Mine Stock and Tools 81,971 63 Miscellaneous Securities Owned 1,246,27828 Advanced Royalties 230,43608 Prepaid Insurance 12,213 41 Materials and Supplies 275,023 2t Cash and Current Assets 2,128,549 67 Total Assets $10,948,117 27 Bonded Debt 400,00000 Mortgages on Real Estate 148,882 31 Fund for Depreciation of Lands 1,878,435 16 Interest Accrued, not Due 1,387 01 Taxes Accrued, not Due 35,000 00 Erie RR. Co. Advances 589,89453 Reserve Funds, Miscellaneous 68,72868 Current Liabilities 335,78958 Total Liabilities $10,948,117 27 17. Equipment Trust Obligations. — The total amount outstanding on June 30, 1902, was $7,302,777.95, of which $578,120 was the balance due on trusts assumed from the N. Y., L. E. & W. RR. Co. ; $1,105,203.89 the balance due on trusts assumed from the N. Y., P. & O. RR. Co., and $5,619,454.06 the balance due on trusts created by the company. Following are the details: N. Y., L. E. & W. RR. trusts (Car Trust of New York — Series F, $177,500, payable $31,875 semi-annually, July and Jan., with interest at 5 p. c. per annum, payable Nov. and May ; Series G, $400,620, pay- able $78,575 semi-annually, July and Jan., with interest at 5 p. c. per annum, payable July and Jan.), $578,120 ; N. Y., P. & O. RR. trusts (London Equipment Trust of 1888, $471,953.10, payable £1,666 13s. 4d. monthly, or £20,000 per annum, this including Interest at 5 p. c. per annum, payable Nov. and May ; N. Y., P. & O. Equipment Trust of 1890, $633,250.79, payable £1,750 monthly or £21,000 per annum, this including interest at 5 p. c. per annum, payable Dec. and June), $1,105,- 203.89; Erie RR. Trusts ( Arbuckle Bros., Pennsylvania Coal Equipment Trust, $180,000, payable $90,000 each 1st of Jan., with interest at 5 p. c. per annum, payable July and Jan. ; Wells, Fargo & Co. Car Trust of July 1, 1899, $4,665, with interest at 5 p. c. per annum, payable July and Jan. ; Erie RR. Gold Equipment Trust of 1900 — Series A, $1,250,000, payable $250,000 per annum, with interest at 5 p. c. per annum, payable July and Jan. ; Series B, $950,000, payable $150,000 per annum, with interest at 5 p. c. per annum, payable June and Dec. ; Series C, $352,000, payable $58,000 per annum, with interest at 5 p. c. per annum, payable Feb. and Aug. ; Series D, $850,000, payable $120,000 per annum, with interest at 4J p. c. per annum, payable April and Oct. ; Series E, $1,760,000, payable $250,000 per annum, with interest at 4i p. c. per annum, payable April and Oct. ; Central Car Trust, $193,333.52, payable $7,495 quarterly, Jan., April, July and Oct., with interest at 6 p. c. ; Brooks Locomotive Works Trust, $79,455.54, payable $15,694.92 monthly, with Interest at 5 p. c.), $5,619,454.06. Series F Car Trust of New York covers 25 consolidation loco- motives, 850 hopper-bottom coal cars, 700 box cars and 200 flat cars ; Series G covers 1,300 box cars, 300 flat cars, 350 butter and cheese cars, 500 stock cars, 1,000 gondola cars, 2,000 coal cars, and 20 passenger cars. The London Equipment Trust covers 22 locomotives, 500 gondola cars, 200 box cars, 300 stock cars, 15 caboose cars, and 7 hoisting plants on ore docks. The N. Y., P. & O. Equipment Trust covers 1,000 twin hopper-bottom coal cars. The Wells, Fargo & Co. Car Trust covers 6 horse express cars. The Erie RR. Gold Equipment Trust, Series A, covers 50 consolidation engines and 1,000 steel hopper-bottom gondola cars ; Series B covers 1,000 box cars, 100 furniture cars, and 25 passenger cars ; Series C covers 500 box cars ; Series D covers 1,000 steel flat bottom gondola cars ; and Series E covers 200 box cars and 60 locomotives. The Central Car Trust covers 544 box cars Brook Locomotive Works Trust cavers 25 consolidation locomotives. 18. RAILROAD WHOSE ENTIRE CAPITAL STOCK is OWNED BY THE ERIE RR. Co. ARLINGTOr RR Newarl June to New York and Greenwood Lake June , N. J., 1.16 miles. Capital stock, $4,000 ; unfunded debt, $16,842 — total, representing cost of road, $20,842. F. D. Underwood, Pres. ; Daniel Wlllard, Vice- Prea. ; G. A. Richardson, Sec. ; J. W. Flatten, Treas. Oflice. 21 Cortlandt St., New York, N. Y. ARNOT AND PINE CREEK RR.— Arnot 100 POOR'S MANUAL OF BAILROAD8 — MIDDLE ATLANTIC GUOUP. Juno, to Hoytvllle. Pa., 11. S3 miles. Chartered Jan. 12. 1881. Capital stock. $256,000; current liabilities, $3,351 — total, representing cost of road, $258.351. J. Lowber Welsh, Pres., Philadelphia, Pa. : P. D. Underwood. Vlce-Pres. ; G. A. Rich- ardson. Sec. ; J. W. Flatten, Treas., New York, N. Y. General Office, 21 Cortlandt St., New York, N. Y Corporate Office, Dlossburg, Pa. Ill .IU. r.N AND Dl MUCK RR Garfteld, N. J.. to Passalc, N. J., 2.45 miles. Capital stock paid in (auth.. $40,000). $6.000. Cost of road. $7,- C55. F. D. Underwood, Prea. ; Daniel Willard, Vice-Pres. ; G. A. Richardson, Sec. ; J. W. Plat- ten. Treas.. New York. N. Y. Office, 21 Cortlandt St.. New York, N. Y. iii:i«.i:\ COUNTY RR. — Rutherford June, to Ridgewood June., N. J., 9.82 miles. Organized Sept. 9. 1880. Capital stock, $200,000 ; 6 p c. bonds, $200,000. Cost of road, $613.216. F. D. Underwood, Pres. ; Daniel Willard, Vice-Pres. ; G. A. Rich- ardson, Sec. ; J. W. Flatten, Treas.. New York, N. Y. Office. 21 Cortlandt St., New York, N. Y. CHICAGO AND ERIE RR Marion June., O.. to Ind.-Ill. State Line, near Hammond, Ind., 249.57 m. ; total track (steel ; 80 Ibs.), 351.67 miles. Reorganization of the Chicago and Atlantic Ry. Co. (See Manual for 1899, page 119.) Capital stock ($100 shares), $100,000; funded debt (par- ticulars in Erie's statement), $12,300,000. F. D. Underwood, Pres. ; Daniel Willard, 1st Vice- Pres. ; J. W. Flatten, Treas. ; David Bosman, Sec. Office, 21 Cortlandt St., New York, N. Y CONESUS LAKE RY. — Conesus Lake June, to Lakevllle. N. Y., 1.61 m. ; total track, 1.98 miles. Chartered May 10, 1882. Capital stock ($50 shares), $18,750; advances for betterments, $9.144 — total, $27,894. Contra : Cost of road, etc., $27,028; profit and loss, $866 — total, $27,894. F. D. Underwood, Pres. ; Daniel Willard, Vlce- Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec.. New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. ERIE AND BLACK ROCK RR. — Black Rock June, to Black Rock, N. Y., 1.14 m. ; total track, 3.41 miles. Chartered March 28, 1882. Cap- ital stock paid in ($25,000 auth.), $960; advances by N. Y., L. E. & W. RR. Co., $37,610 — total, $38,570, representing cost of road. F. D. Under- wood, Pres. ; Daniel Willard, Viee-Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office. 21 Cortlandt St., New York, N. Y. ERIE AND WYOMING VALLEY RR Hawley to Port Blanchard, Pa., 58.88 m. ; 2d track, 11.60 m. — total, 70.48 m. ; total track ( steel ; 67 and 80 Ibs.), 134.98 miles. Hawley Branch: Lackawaxen to Hawley, Pa., 15.61 m. ; total track (steel). 22.91 miles. HISTORY. — Chartered Nov. 6, 1882. The Jones Lake RR. Co. was absorbed on June 5, 1895. The Hawley Branch was built In 1861 by the Pennsyl- vania Coal Co. and was leased to the Erie on June 6, 1862. The lease was cancelled in 1901 as a result of the purchase of the Pennsylvania Coal Co. by the Erie RR. Co. BALANCE SHEET, June 30, 1902. — Capital stock ($3,000,000 auth.; $50 shares), $1,500,000; current liabilities, $341,118 ; profit and loss, $656,- 948 — total, $2,498,066, representing cost of road and equipment. The entire capital stock is owned by the Erie RR. Co. and pledged as security for that company's Pennsylvania collateral trust bonds. CORPORATE OFFICERS. — J. L. Welsh, Pres., Philadelphia, Pa. ; F. D. Underwood, 1st Vice- Pres. ; G. A. Richardson, Sec. ; J. W. Flatten, Treas., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. JEFFERSON RR — Lanesboro' to Carbon - dale, Pa.. 36.63 m. ; West Hawley to Horiesdale, Pa.. 8.18 m. — total, 44.81 m. ; 2d track. 38.98 m. ; total track, 98.69 miles. Chartered Feb. 15, 1864. Capital stock. $2.096,050; funded debt (particu- lars in Erie's statement), $3,100,000; advances by proprietary company $1,409,840 — total, $6,605,890. J. Lowbor, Welsh, Pres.. Philadelphia, Pa. ; F. D. Underwood, Vice-Pres.; J. W. Flatten, Treas.; G. A. Richardson, Sec., New York, N. Y. Office, Scranton, Pa. LONG DOCK CO. — Passenger Station to Bridge Creek, Jersey City, N. J., 2.56 miles, double tr;i>-k. HISTORY. — Chartered in New Jersey. Feb. 26, 1856, with power to bold and improve land, aud lands under water, and to build docks, piers, railroads, and other structures thereon. The assets of the company consist of 577 acres of land, and land under water, improved with build- ings, piers, docks, and railroad tracks, of a total value, calculated on the assessment for taxation in 1901, of $6,792.917. FINANCIAL STATEMENT.— Capital stock, $800,000; funded debt (particulars in Erie's state- ment), $7,500,000 — total, $8,300,000. CORPORATE OFFICERS. — F. D. Underwood, Pres. ; F. B. Jennings, Vice-Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, See., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. MOOSIC MOUNTAIN AND CARBONDALE RR. — Winton to Marshwood, Pa., 4.21 miles. Chartered Feb. 15, 1887. Capital stock, $150,000. representing cost of road. W. A. May, Pres., Scranton, Pa. ; F. D. Underwood, Vice-Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office, Scranton, Pa. NEWARK AND HUDSON RR. — Bergen June, to Newark, N. J., 5.62 m. ; 2d track, 4.52 m. ; total track, 12.44 miles. Chartered March 17, 1870 : opened in 1871. Capital stock, $250,000; funded debt, $250,000 1st mtge. 7s of 1901 — total, $500,000. Cost of road, etc., $355,056. D. W. Cooke, Pres., Paterson, N. J. ; F. D. Underwood, Vice-Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. NEW YORK. LAKE ERIE A\D WEST- ERN COAL AND RR. CO Crawford June. to Johnsonburg, Pa., 29.92 m. ; Alton to Riderville June., Pa., 0.83 m. ; Brockwayvilie to Toby Mines, Pa., 12 m. ; Daguscahonda to Dagus Mines, Pa., 5.5 m. — total, 48.25 m. ; total track, 71.85 miles. HISTORY. — Chartered April 8, 1870. BALANCE SHEET.— June 30, 1902.— Capital stock ($100 shares), $500,000; funded debt (par- ticulars in Erie's statement). $3,000,000 — total, $3,500,000. Contra : Cost of road, etc., $2,228,680 ; Robert's Lot Spur, $6,239 ; Brockport and Shaw- mut RR.. $21,195 ; land owned, $509,391 ; Hazleton Branch, $580; N. Y., L. E. & W. RR. Co., re- ceivers, $359,558 ; Northwestern Mining and Ex- change Company, $203,994 ; Erie RR. Co., $18,151 ; profit and loss, $152.212 — total, $3,500,000. CORPORATE OFFICERS. — J. Lowber Welsh, Philadelphia, Pa. ; F. D. Underwood, Vice-Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office, Bradford, Pa. Brockport UMC! .s ha \vmiit RR. — Brockport to Shawmut, Pa., 2.10 miles. Chartered July 31, 1886. Capital stock, $22,500, representing cost of road, etc. D. H. Jack, Pres., Bradford, Pa. ; F. D. Underwood, Vice-Pres. , J. W. Flatten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. West Clarion RR. — Brockwayvilie to West Clarion Mines, Pa., 1.99 miles. Chartered July 21, 1897 ; road opened in 1899. Operated by the Erie RR. Co. as a branch of the N. Y., L. E. & W. Coal Co.'s RR. Controlled by the Erie RR. Co. through ownership of entire capital stock, amounting to $20,000. Joseph Bailey, Pres., Brockwayyille, Pa. ; F. D. Underwood, Vice-Pres. ; G. A. Richardson, Sec. ; J. W. Flatten, Treas., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. NEW YORK, LAKE ERIE AND WEST- ERN DOCKS AND IMPROVEMENT CO. — Organized June 28, 1881, under the laws of the State of New Jersey, for the purpose of buying, reclaiming, and improving lands and lands under water in Hudson County. POOR S MANUAL BRIE SYSTEM. 101 FINANCIAL STATEMENT. — Capital stock ($100 shares), $604,000; funded debt (particulars in Erie's statement), $4,000,000 — total, $4,604,000. CORPORATE OFFICERS. — F. D. Underwood, Pres. ; F. B Jennings, Vice-Pres. ; G. A. Rich- ardson, Sec. ; J. W. Flatten, Treas., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. NYPANO RR Salamanca, N. Y., to Dayton, O., 388.04 m. ; Buchanan June, to Oil City, Pa., 33.78 in. ; Youngstown and Austintown and all branches, 8.49 m. — total, 430.31 miles. HISTORY. — Organized March 16, 1896, as suc- cessor to the N. Y., Pa. & O. RR. Co. (See Manual for 1897, page 432.) FINANCIAL STATEMENT. — The $20,000,000 of stock and $20,000.000 of bonds of this company are owned by the Erie RR. Co., and are deposited under that company's 1st consol. mtge. There are $8,000,000 bonds of the N. Y., P. & O. RR. Co., secured by first mortgage on this property. They have been assumed by the Erie RR. Co. CORPORATE OFFICERS. — F. D. Underwood, Pres., New York, N. Y. ; J. H. Clarke, Vice-Pres. ; J. VV. Flatten, Treas., New York, N. Y. ; G. A. Richardson, Sec., Cleveland, O. Office, 21 Cort- landt St., New York, N. Y. PATERSON, NEWARK AND NEW YORK RR Paterson to Newark, N. J., 11.33 miles. Chartered Jan. 19, 1872. Capital stock, $250,000; funded debt ($499,000 owned by Erie RR. Co.), $500,000. Cost of road, $545,433. F. D. Underwood, Pres. ; Daniel Willard, Vicn- Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. 19. RAILROADS A MAJORITY OF WHOSE STOCK is OWNED BY THE ERIE RR. Co. BUFFALO, BRADFORD AND PITTS- BURGH RR Carrollton, N. Y., to Gilesville, Pa., 26.17 m. ; Bradford to Nusbaum, Pa., 5.24 m. ; total track, 43.11 miles. HISTORY. — Consolidation, March 22, 1859, of the B & P. and the B. & B. RR. Cos. ; opened Jan. 5, 1856. (See Manual for 1899, page 119.) FINANCIAL STATEMENT. — Capital stock. $2,286,400; funded debt (1st 7s of Jan. 1, 1896), $580,000 ; advances by lessee, $247,890 — total, $3,- 114,290. The Erie RR. Co. owns $2,204,900 of the stock and all of the bonds. CORPORATE OFFICERS. — J. Lowber Welsh, Pres., Philadelphia, Pa. ; F. D. Underwood, Vice- Pres. ; G. A. Richardson, Sec. ; J. W. Flatten, Treas., New York, N. Y. Corporate Office, Brad- ford, Pa. General Office, 21 Cortlandt St., New York, N. Y. 10 1, MI It \ STATE LINE RR State Line June., N. Y., to State Line of Pennsylvania, 6.51 in. ; total track, 7.10 miles. HISTORY. — Chartered April 24, 1872; opened Nov. 17, 1876. Leased to the Erie RR. Co. at an annual rental of $6,314. BALANCE SHEET, June 30, 1902. — Capita) stock ($69,200 owned by Erie RR. Co.), $90,200: funded debt (particulars in Erie's statement), $160,000 — total, $250,200. Contra : Cost of road, $189,200; Erie RR. Co., $61,000 — total, $250,200. CORPORATE OFFICERS. — F. D. Underwood, Pres. ; Daniel Willard, Vice-Pres. ; J. W. Plat- ten, Treas. : G. A. Richardson, Sec. Office, 21 Cortlandt St., New York, N". Y. MIDDLETOWN AND CRAWFORD RR. — Crawford June, to Pine Bush, N. Y., 10.22 m. ; total track, 10.85 miles. HISTORY. — Organized Aug. 3, 7868; opened June 7, 1872. Leased to the Erie Jan. 1, 1882, at an annual rental of $10,500. The lessee owns $120,650 .stock and $57,200 bonds*. BALANCE SHEET, June 30, 1902. — Capital stock, $122.200; funded debt (1st 4|s of April 1, 1921), $66,000; current liabilities, $801; profit and loss, $58,984 — total, $247,985. Cost of road, $193.- 351 : current assets, $54,631 — total, $247,985. CORPORATE OFFICERS. — F. D. Underwood, Pres. ; Daniel Willard, Vice-Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. NEW JERSEY AND NEW YORK RR. — See General Index for separate statement. NEW YORK AND GREENWOOD LAKE RY N. Y. & G. L. June, to Sterling Forest, N. J., 39.26 m. ; Ringwood June, to Ringwood, N. J., 2.79 m. ; Caldwell Ry., 4.50 m. ; Roseland Ry., 0.95 m. : Watchung Ry., 4.16 m. — total, 51.60 in. ; 2d track, 11.95 m. ; total track, 67.09 miles. HISTORY. — Successor, Nov. 1,1878, to the Mont- 2O. RAILROADS LEASED AVON, GENESEO AND MOT NT MORRIS HR. — Mount Morris to Avon, N. Y., 17.7 miles. HISTORY. — Successor, March is, is.;o. to the Genesee Valley RR. Co. Leaded to tho Rrlo RR. Co. at a yearly rental (payable Jan. and July, clair and Greenwood Lake RR. Co. Leased to the Erie RR. Co. for 999 years from May 1, 1896, at a rental equal to fixed charges. FINANCIAL STATEMENT.— Capital stock ($50 shares), $100,000; funded debt (1st 5s of May 1, 1946), $1,500,000 — total, $1,600,000. The bonds are tax-free and are guaranteed, principal and interest, by the E. RR. Co., the guaranty being endorsed on each bond. CORPORATE OFFICERS. — Erskine Hewitt, Pres. ; F. D. Underwood, Vice-Pres. ; J. W. Plat- ten, Treas. ; G. A. Richardson, Sec., New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. SUBSIDIAKY ROADS N. Y. & G. L. RY. Caldwell Ry. — Caldwell June, to Cald- well, N. J., 4.50 miles. Built in 1891. Operated by the Erie RR. under its lease of the N. Y. & G. L. Ry. Co. Capital stock (auth.), $100,000. F. D. Underwood, Pres. ; Daniel Willard, Vice Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec. Office, 21 Cortlandt St., New York, N. Y. Roaeland Ry. — Caldwell to Essex Fells, N. J., 0.95 mile Built in 1892. Operated by the Erie RR. under its lease of the N. Y. & G. L. Ry. Co. Capital stock, $2,000 ; floating debt, $8,471 — total, representing cost, $10,471. F. D. Underwood, Pres. ; Daniel Willard, Vice- Pres. ; J. W. Flatten, Treas. ; G. A. Richardson, Sec. Office, 21 Cortlandt St., New York, N. Y. WatchunK RR Forest Hill, N. J., to Main St., Orange, N. J., 4.16 m. ; sidings, 401 feet. Rail, 60 Ibs. Operated by the Erie RR. under its lease of the N. Y. & G. L. Ry. Co. Capital stock, $47,- 000; funded debt, $200,000; other debt, $50,000 — total, $297,000. Office, 21 Cortlandt St., New York, N. Y. TIOGA KR — N. Y. State Line to Arnot June., Pa., 39.26 m. ; Tioga June., Pa., to Lawrenceville, Pa. (State Line), 3.50 m. ; Blossburg to Morris Hun, Pa., 3.84 m. — total, 46.60 miles. HISTORY. — Reorganization, in 1851, of the Tioga Navigation Co. (See Manual for 1899, page 120.) The Erie RR. Co. owns all of this company's stock, except six shares of the common stock, the owners of which cannot be found, and has assumed the funded debt. FINANCIAL STATEMENT. — Capital Stock ($50 shares), common, $391,200; preferred, $189,- 700; funded debt (particulars in Erie's state- ment), $629,500 — total, $1.210,400. CORPORATE OFFICERS. — F. D. Underwood, Pres. ; J. G. McCullough, Vice-Pres. ; G. A. Rich- ardson, Sec. ; J. W. Flatten, Treas., 21 Cortlandt St., New York, N. Y. BY THE ERIE RR. Co. at lessee's office) equivalent to 3i p. c. on the capital stock, and $100 for organization expenses. FINANCIAL STATEMENT. — Capital stock. $225,000, representing cost of road. CORPORATE OFFICERS. — Joslah Anstice, POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. Rochester. N. Y. ; H. B. Brown. Sec. * MtMorri-. N. Y. Omce. Mt. Morris. , i i:\i:i. %MI \M> MAHONIMi VALLEY i( ^ . -Cleveland. U.. to Pa. SUte Line, Including llae from Young»u>wn. O.. to Hazelton. O.. 80JJ1 m ; Nile.. O.. to Lisbon. O.. 36.» m. ; Glrard. O . to Crmb Crt*k, Younjstown. 6.01 m. — total, 123.07 . HISTORY. — Consolidation. July 25. 1872, of the Cleveland and Mabonlng. Liberty and Vienna, and M1.-S and New Lisbon RR. Cos. The line of it* Liberty and Vienna RR. was abandoned in 1901. Leaded to the Erie RR. Co. till Oct. 1, 19C*. at an annual rental of (525,967.43, payable in Installments, monthly, in advance. •MB ACCOUNT, year ending June 30, 1902. — Rental. $525,967. Payments : Interest on bonds, '0; dividends ( 13 J p. c.), $372,492; expenses, 0.370 — total. $T>25,662. Surplus. $305. "ALA M'K SHEET, June 30. 1902. — Capital bto, k (1100 shares ). including $591 scrip, $3,259,791 ; funded debt ($2.936,000 1st consol. 4s of Jan. 1, 1938 ; $100 2d intge. bond due in 1872, and $1,000 1st mt*e. bond due in 1KB). $2,937.100; current lia- bilities. $2.979; profit and loss. $296.650 — total, U.496.520. Contra : Cost of road, etc.. $6,422,419 ; other asset. $74.101— total, $6,496.520. CORPORATE OFFICERS. — Stevenson Burke, Pros. ; E. R Perkins. Treas. ; E. E. Poppleton, Sec. Office. Cleveland, O. GOSHEN AND DECKERTOWN RY OoHhen to Pine Island. N. Y., 11.64 m. ; total track. 11.87 miles. HISTORY. — Organized Feb. 22, 1867; opened April 10, 1869. Leased for 50 years from Jan. 1, INCOME ACCOUNT. — Rental, year ending June 30, 1902, $19,035. Payments: Interest, $14,- 790; expenses and tuxes, $29'J ; dividends (4 p. c.), 13848 — total, $18,937. Surplus, $!)S ; deficit for- ward, $3,150 ; net deficit. $3,052. BALANCE SHEET. June 30, 1902. — Capital stock paid in ($360,000 auth. ; $10 shares), $96,190; funded debt, $246,500; interest unpaid, $3,052 — total. $345,742. Contra : Cost of road, $342,690 : profit and loss. $3,052 — total, $345,742. Funded debt, June 30, 1902, consisted of $186,500 6s of July 1, 1928; and $60,000 2d 6s of Nov. 1, 1929. CORPORATE OFFICERS.— George W. Murray, Pres=. : Charles S. Young, Sec. & Treas. Office, Goshen, N. Y. MONTGOMERY AND ERIE RY Mont- gomery to Goshen, N. Y., 10.43 m. ; total track, 10.91 miles. HISTORY. — Chartered Jan. 2, 1S66 ; opened Dec. 12, 1867. Leased to the Erie RR. Co. ; rental, $16,000 a year, from which are paid interest on bonds and 4J p. c. dividends on stock, besides ej.penses, etc. BALANCE SHEET, June 30, 1902. — Capital stork paid in ($260,000 auth. ; $10 shares), $150,000; funded debt, $170,500; sinking fund, $6,500; profit and loss, $1,126 — total, $328,126. Contra : Cost of road, $327,000; cash, $1,126 — total, $328,126. FUNDED DEBT, June 30, 1902, consisted of $130,000 1st 5s of May 1, 1926 ; and $40,500 2d 5s of Oct. 1, 1927. CORPORATE OFFICERS. — Chas. J. Everett, Pres. ft Treas., Goshen, N. Y. ; Walter J. Mead, Sec., Montgomery, N. Y. Office, Montgomery, N. Y. NORTHERN RR. OF NEW JERSEY.— Bergen Juni-.. N. J.. to Sparklll, N. Y., 21.54 m. ; Nyack and Southern RR. (leased), 4.51 m. — total, 26.06 m. : 2d track, 21.63 m. ; total track (steel), 51.01 miles. HISTORY. — Chartered Feb. 9, 1854; opened Oct. 1. 1869. Leaded to the Erie RR. Co., which as- sumes all obligations and agrees to pay dividends of 4 p. c. a year on the capital stock. (See Manual for 1900, page 102.) BALANCE SHEET, June 30, 1902.— Capital stock. $1,000,000; funded debt. $808,000; profit and Ions. $85.577— total. $1.893,577. Contra: Cost of road, $1,706.&40 ; stock of other companies, $154,- «S9 ; Nyack and Northern RR. advances, $2,751 ; Nyack and Southern RR. advances, $5,620; ac- counts, $23.627 — total, $i,893,577. FUNDED DEBT, June 30, 1902, consisted of $664.000 1st 6s of July 1, 1927; and $154,000 gen. 4|s of Jan. 1. 1950. The authorized issue of gen. mtg*. bonds Is $1,000,000. a sufficient amount of whlrh Is reserved for retirement of the $654,000 l»t mt*e. bonds, and the remainder for Improve- rORPOKATE OFFICERS.— F. D. Underwood. l>aniel Wlllard. Vlce-Pres. ; G. A. Rich- ardson. Sec. ; J. W. Flatten. Treas.. New York, N. Y. Office, 21 Cortlandt St., New York, N. Y., and Knelowood. N. .1. Ny*ek and Northern RR. — Chartered Nov. 25, 1868, and built the road from Sparklll to Nyack, N. Y., 4.51 miles, which was opened in May, 1870. The property was sold on a judgment May 31, 1894, and was afterwards purchased by the Nyack and Southern RR. Co. Balance Sheet, June 30, 1902. — Capital stock $74,800; funded debt (retired), $150,000; accounts, $21,336 ; profit and loss, $3,450 — total, represent- ing cost, $249,586. E. H. Sisson, Pres., Tenafly, N. J. ; John .1. Duff, Sec., New York, N. Y. Office, Tenafly N. J. Nyack and Southern RR — Sparkill, N. J., to Nyack, N. Y., 4.51 m. ; total track ( steel ; 60 to 68 Ibs.), 5.78 miles. Chartered March 24, 1899, and purchased the property formerly of the Nyack and Northern RR. Co., which is leased to the Northern RR. Co. of N. J. for 100 years from Jan. 1, 1876. Rental, Interest on the bonds of the Nyack and Northern RR. Co. and taxes. The Nyack and Northern bonds are covered by the gen. mtge. bonds of the Northern RR. Co. of N. J., and the rental is paid directly to the bondholders by the Erie RR. Co., which operates the road under the lease of the Northern RR. of N. J. Capital stock, $50,000. F. D. Underwood, Pres. ; Daniel Willard, Vice- Pres. ; G. A. Richardson, Sec. ; J. W. Flatten, Treas.. New York, N. Y. Office, 21 Cortlandt St., New York, N. Y. PATKRSON AND HI DMON RIVER RR. — Jeraey City to Pat«rson, N. J., 14.97 m., double trark. Chartered Jan. 31. 1X31 ; opened In 1834. It In l*a»td In perpetuity from Sept. 10, 1862, at an annual rmtal of $4S,400. Capital stock ($50 •HOT), representing original cost, $630.000. Wm. IVnnlnston. PI-PS. ; Robert 8. Hughes. Sec. ft Tr»a»., Pateri«on. N. J. Office. Paterson, N. J. |'\II.HHI» \M) M\M\IM> RR.— Pater- «oo. N. J.. to N. Y. State Line. 15.02 miles. Char- tend Marrh 10. 1X41 ; completed in 1848. Leased Sept. in. 1«2; rental. $26,500. Dividends 8 p. c. P*r annum, payable Jan. and July. Capital Mock. 198,610. Cowt of road. $350,000. Wm. Pen- nington, Pres. ; Robert I. Hopper, Sec. & Treas., Paterson, N. J. Office. Paterson, N. J. ROCHESTER AND GENESEE VALLEY RR. — Rochester to Avon, N. Y., 18.4 miles. Or- ganized July 2, 1854 ; opened Aug. 10, 1854. Leaded July 1, 1871 ; rental, 6 p. c. on stock and $700 for organization. Capital stock, $555,200; nominal surplus, $11(5.103 — total, representing cost, $671,- 303. James Brackett, Pres. ; Josiah Anstice, Sec. & Treas. Office, 29 Arcade Building, Rochester, N. Y. SHARON RY — Sharon to Pymatuning, Pa.. 7.93 m. ; Ferrona to New Castle, Pa., 23.59 m. : POOR'S MANUAL OP RAILROADS. 103 Boyce to Sharpsville, Pa., 1.55 m. — total, 33.07 m. ; total track (steel ; 60 Ibs.), 58.41 miles. HISTORY. — Consolidation, Nov. 20, 1900, of the Sharon Ry. and the New Castle and Shenango Valley RR. Co. Leased to the Erie RR. Co. for 900 years, from Dec. 1, 1900, at a yearly rental equivalent to the interest on the bonds, 6 p. c. on the capital stock, and the expense of maintaining the organization. BALANCE SHEET, Nov. 30, 1902. — Capital stock ($800,000 auth. ; $50 shares), $731,600 ; funded debt ( $164,000 1st gold 4Js of June 1, 1919 ; $250,000 N. C. & S. Vy. 6s of July, 1917), $414,000; due to lessee, $20 ; surplus income, $22,810 — total, $1,- 168,430. Contra : Construction, $1,145,620 ; cash and current assets, $22,810 — total, $1,168,430. The remainder of the capital stock may be issued from time to time as needed for improvements, etc. CORPORATE OFFICERS. — Earl A. Wheeler, Pres. ; P. A. Higgs, Treas., Sharon, Pa. ; J. A. Middleton, Sec., New York, N. Y. Office, Sharon, Pa. UNION RR — State Line to Suffern, N. Y., 0.79 m., double track. Chartered Jan. 20, 1851. Leased in perpetuity, Sept. 10, 1852, to the Erie Ry. Co. ; rental, $3,500, being 7 p. c. on $50,000 capital stock. Wm. Pennington, Pres. : Robert I. Hopper, Sec. & Treas., Paterson, N. J. Office, Paterson, N. J. WESTERMAN RR.— Centre of Mill St., Sharon, Pa., to a point i mile west of Pa. O. State Line, 2.09 miles. Owned by Caroline Buhl, of Detroit, Mich., and leased to the Erie RR. Co., at a rental of $4,000 a year, the lease to expire May 1, 1982. YOUNGSTOWN AND AUSTINTOWN RY. — Youngstown, O., to Leadville Mines and branch to Manning and Tippecanoe Shafts, 8.49 miles. HISTORY. — Built in 1871 and 1872. Leased to Erie RR. Co. for 99 years from May 1, 1883. En- tire capital stock, $10,500, owned by the Erie RR. Co. CORPORATE OFFICERS.— F. D. Underwood, Pres., New York, N. Y. ; Wm. G. A. Richardson, Sec., Cleveland, O. Office, 830 Garfleld Building, Cleveland, O. 21. Board of Directors, Erie RR. Co., elected October 14, 1902. Robert Bacon.. New York, N. Y. J. J. Goodwin. . " James J. Hill... St. Paul, Minn. J. G. McCullough, N. Bennington, Vt. D. O. Mills.... New York, N. Y. Norman B. Ream.. Chicago, III. S. Spencer.... New York, N. Y. Chas. Steele. . . " F. L. Stetson.. E. B. Thomas.. New York, N. Y. H. McK. Twombly " F. D. Underwood " J. L. Welsh.. Philadelphia, Pa. Alex. E. Orr..New York, N. Y. F. D. UNDEBWOOD, President and Chairman of Board New York, N. Y. George G. Cochran, Assistant to President G. A. Richardson, Assistant to President and Sec . . . Daniel Willard, Is* Vice-President and Gen. Mgr. . . . H. B. Chamberlain, 3d Vice-Pres. d Gen. Traffic Mgr. " " Asst. Sec. — David Bosman.. New York, N. Y. Treasurer — J. W. Flatten " " Aast. Treas. — W. B. Bancker.-.New York, N. Y. Auditor — M. P. Blauvelt " PRINCIPAL OFFICE AND ADDRESS 21 Cortlandt Street, New York, N. Y. NEW JERSEY AND NEW YOKE RAILROAD COMPANY. (Controlled by Erie RK, Co.) 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 34.50 miles). Main Line: N. J. & N. Y. Junction, N. J. to Nanuet Junction, N. Y 20.63 miles. Garnerville Section : Spring Valley to Garnerville, N. Y 8.54 " Stony Point Branch: Stony Point Junction to Stony Point, N. Y 1.04 New City Branch : New City Junction to New City, N. Y 4.29 B. LEASED LINE : N. J. rf N. Y. Exten. RR. : Garnerv. to Haverstraw, N. Y. 2.37 " O. TRACKAGE RIGHTS (total, 10.89 miles) : Erie RR. : Jersey City to N. J. & N. Y. Junction, N. J 7.59 Erie RR.: Nanuet Junction to Spring Valley, N. Y 2.30 Garnerville RR.: Garnerville to Garnerville Print Works, N. Y 1.00 " Total mileage operated, June 30, 1902 47.76 miles. 2d track, 11.05 m. ; sidings (owned, 5.75 m. ; leased, 1.23 m.), 6.98 miles. Gauge, 4 ft. 8y2 in. Rail ( steel— owned, 34.50 m.; leased, 12.26 m. — total, 46.76 m.), 60 Ibs. 2. History. — Consolidation, in December, 1885, of a company of the same name with the Hackensack RR. Co. (See MANUAL for 1893, page 431.) The Erie RR. Co. having acquired control of the company, took possession of the property on April 7, 1896, but operates it separately. Trains are run over the tracks of the Erie RR. from Jersey City to N. J. & N. Y. Junction, 7.59 miles, and from Nanuet Junction to Spring Valley, 2.30 miles. 3. Rolling Stock, June 30, 1902. — Locomotives, 9. Cars — passenger, 27; bag- gage, etc., 1; freight (box, 43; stock, 1; coal, 21; flat, 8), 73; service, 2 — total, 103. 4. Operations, year ending June 30, 1902. — Trains run (passenger, 370,020; freight, 31,362; other, 29,675), 431,057 miles. Passengers carried, 1,908,503; carried one I "4 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. mile. 21,488,737; average mil* rate, 1.013 cents. Tons freight moved, 187,063; ton- _'; average ton-mile rate, 3.662 cents. Earnings (passenger, $217,514.67; freight, $108,915.53; other, $15,665.18), $342,095.38. Operating expenses, $257,389.19. .irnings, $84,706.19; other receipts, $842.55— total, $85,548.74. Payments: Interest on bonds, $55,608; taxes, $5,679.48; rentals, $360— total, $61,647.48. Surplus, $23,- 001.26; surplus forward, $221,059.24— total, $244,960.50. 5. General Balance Sheet, June 30, 1902. — Capital stock paid in (common, $1,440,800; preferred, $787,800), $2,228,600; funded debt, $1,032,160; interest accrued, $4,000; current liabilities, $145,749.42; profit and loss, $244,960.50— total, $3,655,469.92. Contra: Cost of road and equipment, $3,127,418.73; securities owned, $238,325; materials, etc., $4,9$ 1.41; cash and current assets, $284,744.78— total, $3,655,469.92. 6. Capital Stock. — Capital stock authorized — common, $2,000.000 ; preferred, $800,000 — total. $2.800.000 In $100 shares. A majority of the capital stock is owned by the Erie RR. Co. The control of the company is vested in the preferred stock and 1st ratge. bonds until such time as the preferred stock shall have received 6 p. c. per annum for three consecutive years. - . i 11 ml ed Debt. — Funded debt on June 30, 1902, consisted of $400,000 1st 6s of April 30, 1910; $2.660 ($100,000 auth.) 2d 5s of Nov. 27, 1895, due 100 years later; and $629,500 ($1,- 200.000 auth.) gen. 5s of Dec. 31, 1932. The gen. mtge. bonds may be redeemed at any time at 105 p. c. and accrued Interest 8. RAILROADS LEASED OB OPEBATED BY THE N. J. & N. Y. RR. Co. GARNERV1L.LE RR Miner's Creek, N. Y., to Oarnervllle Print Works. 1 mile. Incorp. Sept. 11. 1875; opened June 13, 1876; sold under execu- tion. May 20. 1890, and company subsequently dissolved. Purchased in 1892 by the Rockland Print Works, of Oarnerville. Used as a switch to the N J. ft N. Y. RR. N«W JERSEY AND NEW YORK EX- TENSION RR — Oarnerville to Haverstraw, N. Y., 2.37 m. ; total track (steel, 2.37 m.), 3.69 mile*. Leased to the N. J. & N. Y. RR. Co. ; rental, $11.- 400 yearly. This rental has been reduced to $360 by the lessor purchasing this company's securi- ties. Capital stock, $72,500. F. W. Downer, Vice- Pres.. New York, N. Y. ; J. D. Hasbrouck, Sec. & Treas., Hillsdale, N. J. 9. Board of Directors, If. J. A Tt.'Y. RR. Co., elected May 5, 1903. R. W. DeForest New York, N.Y. H. W. DeForest F. D. Underwood " " G. Van Keuren, New York.N.Y. W. H. Corbin.. Jersey City, N.J. Charles Steele..New York, N. Y. G.A.Richardson. .New York.N.Y. Daniel Willard. D. W. Cooke.... S Sj.i-nrer New York, N. Y. | J. G. MoCullough N. Bennington, Vt. F. D. UNDERWOOD, President New York, N. Y. Daniel Willard, 1st Vice-Pres. d Oen. Manager " " H. B. Chamberlain, 3d Vice-Prcs. d Oen. Traffic Mgr. . " Secretary — G. A. Richardson.. New York, N. Y. I Gen. Solicitor — G. F. Brownell. ..New York, N. Y. Treasurer— J. W. Flatten I Auditor — M. P. Blauvelt PRINCIPAL OFFICE AND ADDRESS 21 Cortlandt Street, New York, N. Y. NEW YORK, SUSQUEHANNA AND WESTERN RAILROAD COMPANY (Controlled by Erie ER. Co.) 1. History. —Consolidation, April 5, J893, of the N. Y., S. & W. RR. Co. and the Hudson River RR. and Terminal Co. (See MANUAL for 1893, page 849.) The company i.-> « nl rolled by the Erie RR. Co., but is operated as a separate corporation. 2. Rolling Stock, June 30, 1902. — Locomotives, 81. Cars — passenger, 39; com- bination, 18; baggage, mail, and express, 7; milk, 23; freight (box. 229; flat, 49; gon- dola. 3,.-)44). 3,822; service, 49— total, 3,958. Included in the foregoing is the rolling stock owned by the Wilkesbarre and Eastern RR. Co. (see appended statement). Mange has been made in the company's system of accounting, under which the earnings and expenses of the railroad are shown separately from those of shipping and •storage plants, and the cost of additions and improvements payable out of income shown as a deduction from net earnings instead of being included in operating expenses. With this method of accounting it will be possible hereafter to show the actual cost <>f maintenance and operation, and the extent of improvements made to the property. I IT th«- purpose of making comparison with the previous year the condensed income account in Rwtion 5 has been prepared on the former basis. POOR'S MANUAL — NEW YORK, SU8QTTEHANNA AND WESTERN RH. CO. 105 3. Mileage, June 30, 1902.— A. OWNED ABSOLUTELY (total, 139.84 miles). Main Line: West End, Jersey City, N. J., to. Gravel Place, Pa 101.00 miles. Paterson Extension: Broadway, Patersou, to Straight St., Paterson, N. J. 0.75 " Vnionville Branch: Two Bridges, N. J., to Unionville, N. Y 20.50 " Delaware Branch: Columbia Junction to Delaware, N. J 3.00 " Hudson River Branch : Little Ferry Junction to Edgewater, N. J 3.00 " Branches in Lackawanna Valley, Pa 11.59 " B. PROPRIETARY RAILROADS (total, 82.38 miles). Lodi Branch RR. : Lodi to Lodi Junction, N. J 0.73 " Backcnsack and Lodi RR.: Lodi Junction to Hackensack, N. J. 1.41 " Passaic and A'ew York RR.: Passaic Junction to Passaic, N. J 3.05 " Macopin RR.: West IMilford to Macopin Lake, N. J 1.50 " Wilkesba-i-re and Eastern RR. : Stroudsburg to Wilkesbarre, Pa 65.46 " Susquehanna Connecting RR. : Paddy's Land to Minooka, Pa 9.80 " Edgewater and Fort Lee RR. : At Edgewater, N. J 0.43 " C. LEASED LINE. Middletown, Unionville and Water Gap RR.: Middletown to Unionv., N. Y. 13.65 " D. TRACKAGE RIGHTS. Pennsylvania RR. : West End to Jersey City, N. J 2.55 " Total length of lines operated, June 30, 1902 238.42 miles. 2d track, 22.50 m.; sidings, 91.53 m. Gauge, 4 ft. 9 in. Rail (steel), 60 to 80 Ibs. 4:. General Income Account, year ending June 30, 1902. Expenses — Railroad : Maint. Way and Structures $258,67949 Maintenance of Equipment 241,130 60 Conducting Transportation 809,987 79 General Expenses 23,73687 Earnings — Railroad: Passenger $401,85823 Freight 2,079,054 24 Mail and Express 44,873 68 Reuts and Other 19,082 67 Total ($10,673.89 per mile) $2,544,86882 Shipping and Coal Storage. 39,05886 Gross Earnings $2,583,927 G8 Total ($5,593.22 per mile) $1,333,53475 Shipping and Coal Storage 67,96499 Operating Expenses $1,401,499 74 Net earnings (45.76 p. c.), $1,182,427.94; interest received, $32,621.60— total, $1,215,- 040.60. Deductions: Additions and improvements, $2,727.33; taxes, $66,355.18; inter- est accrued on bonds (see Sec. 6), $848,724.17; rental of M., U. & W. G. RR., $22,292.59; interest on mortgages, $650.85; sinking fund payments (Susquehanna Connecting RR., $52,500; Macopin RR., $440), $52,940 — total, $993,690.12. Surplus, $221,359.48; surplus forward, $518,441.56 — total, $739,801.04. Deduct sundry charges to profit and loss, $19,325.71. Surplus June 30, 1902, $720,475.33. 5. Statement of operations and income for two fiscal years ending June 30: 1901 1902 1901 1902 Miles of Road Operated 237.99 238.42 $ S 522.392 569,383 Net Earnings 1,127,116 1 179 701 Freight Train Mileage 660,281 965,997 Interest Received 29,570 32621 1,182,673 1,535,380 Net Income 1,156,686 1,212,322 2 007,570 2 205,910 Taxes 79867 66355 32 895 507 35 207 784 854,452 848,724 Freight (tons) Moved 2,000,901 3.432,874 Interest on Mortgages 923 C51 148,140,197 220,390,502 Rental of Leased Line 21,923 22,293 s % Sinking Funds 52,940 52,940 F ' P 384 448 401 858 Freight 2,059,710 2,118^113 Total Deductions 1.010,105 990,963 Mail and Express 45,821 44,874 1-1903 19083 Balance Surplus 146,581 221 359 2504887 2 583 928 10,525 18 10 837 71 232299 294,449 5 789 20 588972 277532 241 131 4 735 98 4 947 S9 Transportation 843,484 844 310 Expenses to Earnings 55.00 p.e. 54.34 p.c. 24456 23737 A P. t P M'li* 1 13c 1 14 c Total Expenses. ... 1 377 771 1 404227 Aver Rate per Ton per Mile 092c. 0.94 c. Net Earnings 1,127,116 1 179,701 106 POOE'S MANUAL OF RAILBOADS— MIDDLE ATLANTIC GROUP. RR 1st 5s $150.000; Susquehanna Connecting 1st an/New York RR. 1st 6s. $4,200_total. «l lll«. rt «( V.-lTlH-ll |3 ; N. Y.. 8. ft W. 1st 5". $187.250 $127.426: N. Y.. 8. ft W. terminal Patenoo totenalon let 6 6a. $16.250. Macopin T 7. General Balance Sheet, June 30, 1902. ...$42,086,812 S7 Mt»e«llan«ou> Securltle. IB Treasury Material* and Supplies 83.3S. n«po*tt* with Sinking Fund Trustee* 66.400 46 Currant Ac«ounU .SI'S ,« Ca*b OB Hand and in Transit 580,70803 Total AweU $44,027.20607 Funded Debt Outstanding 16,118,000 Outstanding Called Stocks and Bonds 543,33< 07 Equipment Trusts Outstanding 4,360 82 Sinking Funds Accrued JrSJi ,i Interest and Rentals Accrued not Due 154, (98 73 Current Liabilities 333,221 Due to Subsidiary Companies j?S5 S Reserve Funds, Maintenance ^.^' Profit and Loss • 720.475 Total Liabilities $44,027,206 07 $2,000,000 Terminal gold 5s of May 1, IMS. «'.000 Collateral Trust gold 6s of May 1, 1905. Proprietary Roads ($3,364,000). 3.000.000 W.-B. & East. 1st gold 5s of June 1. 1942. 250.000 Susq. Conn. 1st gold 6s of March 1 1907 44,000 Macopin RR. 1st 5s of Dec. 1, 1916. K>, PassaP & N. Y. 1st gold 6s of Dec. 1. 1910. v ' iv Ktt ill1' 751 000) IUMLW Midland RRlsl gold fo of April 1. 1910. torxnn RTt 1st 6s of June 1 1S10 *000 N Y™ * W. st Jloto o? July 1. 1910. 3.745 Ol» Refundin* gold 5s of Jan. 1, 1937. ,,r P.I, 1937 ? Sa'So ?en?ral gold Jo*' AuJ i. 1940. The Midland RR. bonds are secured by first mortgage on the line from Marion to Unionvllle 71.6 bnef The Paterson Extension bonds are secured by first mortgage on the road and real estate In the city of Paterson. The N. Y., 8. & W. firsts are a 1st Hen on the line from Two Bridges to Gravel P ace and on the Wlnton. Delaware and Lackawanna Valley branches, in all 61.6 m and a 2d lien on the main line and Paterson Extension. The refunding firsts are secured on the same property but are subject In lien to the firsts. The 2d mtge. bonds are exchangeable for gen mtge^ b^dTon payment of an assessment. The authorized issue of gen mtge bonds is $3,000,000 bu 'ugh of the bonds are held by the Central Trust Co. of New York, trustee, for the retirement of 'd mtee bonds The gen. mtge. bonds and all bonds prior thereto are in coupon form, with orlvileKe of registration. The terminal mtge. bonds are secured on the property acquired from the Terminal Co including 3 miles of railroad, a tunrel under the Palisades, and 62 acres of terminal nrooerty on the Hudson River. The collateral trust bonds, originally $500,000 in amount, are sub- ject to call for sinking fund. The bonds of the proprietary companies are guaranteed by the N. Y., 8. ft W. RR. Co. 9. RAILROADS OWNED OB LEASED BY THE N. Y., S. & W. RR. Co. HA< KENSACK AMD LODI RR. — Lodl June to Hackensack, N. J., 1.41 miles. Capital •lock (all owned by N. Y., S. & W. RR. Co.). $25000. CORPORATE OFFICERS. — F. D. Underwood, Pren. ; J. W. Flatten. Treas. ; O. A. Richardson, S*c. Office. 21 Cortlandt St., New York, N. Y. I. (>I)I BRANCH RR. — Lodl June, to Lodl, N. J.. 2 m., of which 0.73 m. In operation. The Motion between junction with the N. J. ft N. Y. RR. and Lodl June.. 1.02 m.. Is at present unused. Chartered June 15, 1880. Capital stock (all owned by N. Y.. S. ft W. UR. Co.), $60.000. CORPORATE OFFICERS. — F. D. Underwood, Pren. ; J W. Flatten. Treas. ; O. A. Richardson, See. OftV-e. 21 Cortlandt St., New York, N. Y. MACOPIN RR. — Macopin Lake June., N. J.. to Macopin Lake, N. J., 1.50 miles. Chartered Nov. 8. 1*86; road opened about April 30, 1887. Capital Block (all owned by N. Y., S. ft W. RR. Co.). $00.000; funded debt (1st 5s of Dec. 1. 1916. guaranteed by N. Y.. 8. ft W. RR. Co.). $44.000. CORPORATE OFFICERS. — F. D. Underwood. Pre«. : O. M. Cummin*. Vice-Pros. ; J. W. Flat- ten. Treas. : O. A. Richardson, Sec. Office, 21 Cortlandt St., New York. N. Y. PA9AAIC AND NEW YORK RR -- Passaic to Paosalc June., N. J.. 3.05 miles. Rail (steel), •0 Ibs. Organized July 13, 1886; opened Feb. S, Ml. Capital stock (all owned by N. Y.. 8. ft W. RR. Co.). $70,000; funded debt (1st gold 6s of I*o. 1. 1910. Int. J. ft D.. guaranteed by N. Y., S. ft W. RH. Co.). $70.000 — total, representing cost of road. dr.. «40.00n. CORPORATE OFFICERS.— F. D. Underwood, PTM. : O. M. Curamlng. Vlce-Prw. ; J. W. Plat- trn. Tr*a*. : O. A. Richardson, Sec. Office, 21 Cortlandt St.. New York, N. T. SISULEHAXNA CONNECTING RR Paddy's Land to Minooka, Pa., 9.80 m. ; branches and spurs, 11.59 m. — total, 21.39 miles. Rail (steel), 60 Ibs. HISTORY. — Organized Dec. 14, 1896. Road as completed was built in 1S97 and leased to the Wilkesbarre and Eastern RR. Co., the lessee guaranteeing interest on the bonds and a sinking fund of five cents per ton transported over this road, the same to amount to at least a sum sufficient to retire $50,000 of bonds per annum. The capital stock of tDis company Is owned by the NT. Y., S. & W. RR. Co. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $500,000; funded debt (1st gold 6s of March, 1907), $250,000 — total, represent- ing cost of property, $750,000. FUNDED DEBT. — The bonds are redeemable in sums of $25,000 at each interest period, at 105 p. c. Principal and interest guaranteed by the N. Y., S. & W. RR. Co. CORPORATE OFFICERS. — J. Lowber Welsh, Pres., Philadelphia, Pa. ; F. D. Underwood, Vice- Pres. ; O. A. Richardson, Sec. ; J. W. Flatten, Treas., New York, N. Y. OflVe, 21 Cortlandt St., New York. N. Y. WILKESBARRE AND EASTERN RR. — Wilkesbarre to Stroudsburg, Pa., 65 m. ; branch, Westminster June. (W. & E. RR.) to end of Everhart branch (C. of N. J.), 0.46 m. — total, 06.46 m. ; Susquehanna Connecting RR. (leased). 21.39 m. ; total track, 86.85 miles. Rail (steel), 70 Ibs. HISTORY. — Chartered March 8, 1892 ; main line opened Dec. 1, 1893 ; branch during 1897. Operated by the N. Y., S. ft W. RR. Co., which owns the entire capital stock and guarantees the bonds, both principal and Interest. POOR'S MANUAL OF RAILROADS. 107 ROLLING STOCK. — Locomotives, 15. Cars — passenger, 6 ; freight, 518 ; other, 11 — total, 535. BALANCE SHEET, June 30, 1902. — Capital stock f$50 shares), $3,000,000; funded debt (1st gold 5s. of June 1, 1942), $3,000,000; interest and rentals accrued, $23,755 — total, $6,023,755. Contra : Cost of property, $6,000,000; N. Y., S. & W. RR. Co., $23,755— total, $6,023,755. CORPORATE OFFICERS. — J. Lowber Welsh, Pres., Philadelphia, Pa. ; F. D. Underwood, Vice- Pres. ; G. A. Richardson, Sec. ; J. W. Flatten, Treas. ; M. P. Blauvelt, Auditor, New York, N. Y. Office, Wilkesbarre, Pa. MIDDLETOWN, UNIONVILLE AND WATER GAP RR. — Middletown to Union- ville, N. Y., 13.65 m. ; total track, 16.30 miles. Rail (steel. 15.30 m.), 51 to 60 Ibs. HISTORY. — Chartered May 26, 1866; opened June 10, 1868. Leased by the N. Y.. S. & W. RR. Co. (See Manual for 1893, page 852.) INCOME ACCOUNT. — Net earnings, year end- ing June 30, 1902, $15,500. Payments : Interest, $20,000 ; taxes, $2,293 — total, $22,393. Deficit, $6,793. BALANCE SHEET, June 30, 1902. — Capital stock ($300.000 auth. ; $50 shares), $149,850; funded debt, $400,000; unfunded debt, $109,343 — total, $659,193. Contra: Construction (net), $350,476; profit and loss, $308,717 — total, $659,193. FUNDED DEBT consists of $150,000 1st 5s of Nov. 1, 1911; and $250,000 2d 5s of June 1, 1910. CORPORATE OFFICERS. — F. D. Underwood, Pres. : Daniel Willard, Vice-Pres. ; J. W. Plat- ten, Treas. ; G. A. Richardson, Sec. Office, 21 Cortlandt St., New York, N. Y. 1O. Board of Directors, N. Y., 8. & W. RR. Co., as constituted March I, 1903. W. L. Bull.... New York, N. Y. W. H. Corbin.. Jersey City, N.J. D. Willard.... New York, N. Y. F. D. Underwood " Norman B. Ream. .Chicago, 111. A. L. Hopkins, Williamstown, Mass. C.J.Lawrence. New York, N. Y. J. G. McCullough, N. Bennington, Vt. Sam'l Spencer. New York, N. Y. Charles Steele. F. L. Stetson. . G. A. Richardson " J. J. Goodwin. . " " F. D. UNDERWOOD, President New York, N. Y. Daniel Willard, 1st Vice-Pres. and Gen. Mgr " H. B. Chamberlain, 3d Vice-Pres. and Gen. Traffic Mgr. " " G. A. Richardson, Assistant to President and Secretary " Treasurer — J. W. Flatten New York, N. Y. | Auditor — M. P. Blauvelt New York, N. Y. PRINCIPAL OFFICE AND ADDRESS 21 Cortlandt Street, New York, N. Y. HUNTINGDON AND BEOAD TOP MOUNTAIN RAILROAD AND COAL COMPANY. 1. Main Line. — Huntingdon, Pa., to Mount Dallas, Pa 45.0 m. Branches and extensions to mines, etc 19.1 m. — 64.1 miles. Sidings, etc., 22 miles. Gauge, 4 ft. 9 in. Rail (steel), 85 Ibs. 2. History.— Chartered May 6, 1852; road opened in 1867. (See MANUAL for 1890, page 281.) 3. Rolling Stock, June 30, 1902. — Locomotives, 22. Cars — passenger, 10; freight (coal), 2,923 — total cars, 2,933. 4. Operations, year ending June 30, 1902. — Train mileage — passenger, 65,935; freight, 309,871; other, 24,885 — total, 400,691 miles. Passengers carried, 124,834; carried one mile, 2,592,074; average mile rate; 2.49 cents. Tons freight moved, 3,907,137; moved one mile, 123,397,587; average ton-mile rate, 0.57 cent. EARNINGS 1900-01 1901-02 Passenger . $60,09460 $64,41199 Freight 615,866 19 701,708 17 Mail and Express 13,076 72 13,937 94 Miscellaneous 3,339 06 Totals $692,976 57 $780,058 10 Averages per Mile 10,810 85 12,169 39 EXPENSES 1900-01 1901-02 Maint. Way and Structures. $63,67222 $73,20975 Maint. of Equipment 40,265 S2 52,709 74 Conducting Transportation. 167,533 48 175,856 23 General Expenses 38,599 14 38,663 05 Totals. . . . . $310,070 66 $340,438 77 Averages per Mile 4,681 29 5,311 06 Net earnings, 1901-02 (56.36 p. c.), $439,619.33; other receipts, $7,221.02 — total, $446,840.35. Payments: Interest on funded debt, $106,190; taxes, $21,077.46; dividends on preferred stock (5 p. c.), $100,000 — total, $227,267.46. Surplus, $219,572.89; sur plus forward, $319,402.17 — total, $538,975.06. Deductions: Charged off for deprecia- tion of property and equipment, $88,115.40; depreciation of stocks owned, $7,500; loss in operating car trust cars, $29,246.66 — total, $124,862.06. Balance, surplus June 30, 1902, $414,113. 5. Capital Stock. — The preferred stock has priority over the common stock for dividends at the rate of 7 p. c. per annum .non-cumulative. Up to July 1, 1902, there were paid 34 dividends on the preferred stock and 14 on the common stock. In July, 1902, and in Jan., 1903, dividends of 3J I It's MAM VI. ol UAILKOAI>8 HII'i.l.K ATLANTIC CIK'I I'. p e. Men ww* paid on the preferred stock, and in Jan., 1903, a dividend of 2J p. c. was paid on «. capital stock, bonded debt, revenues, etc., for eight fiscal years i-mling June 30: Yean. Capital «"« UK. nt.-.l Karn- injr-. Ex|)enses iiri'l Taxes. Net Karn- ] ings. interest. Divi- dends. Balance (+OT- ). | $ $ s 9 f $ $ $ 1895 3,371,750 2.280.NX' i. • 032,804 28.1,310 349,494 117,295 208,750 422,102 •_> jv, i ;.i m |, ()], i . i ; M8.47U •*.>:>. 1 SI. 353,290 107,480 194,870 4- 50,940 1807 . . . 2,sBe,aoo ••'< >'• -~ • ; 271.929 262,356 107,871 133.718 4 20,767 1898. . . -'.-.VI.. .r> ii,3t>2 ii03.929 2-17.433 106,160 100,000 -t 41, 242 1009 .1 7 "H I c,:< HO L'Mt.iW. 272.379 106,190 100,000 466,189 1900. 1901 . 3,371.750 3,371,750 •j L's<' .'..KI ;, svj i'.r, 64 .00 1.4 lei 027,141 i.'.-J '.ITV 3U1.-141 331.078 271,446 361,898 100,190 106,190 130.000 120,000 435,256 4135,708 im 3.371.750 2.2HO.&OO S.892.361 i.l in 780,058 30 1.516 •JlS.Mli 106,190 100,000 -| 212,352 7. dnirral Balance Jatu 30, 1902. Cost of Road and Equipment $5.790.272 01 Common Stock ($50 shares) $1,371. ioO 00 Preferred Stock ($50 shares) 2,000,00000 Funded Debt Outstanding (see below) 2,280,500 00 Current Liabilities 72,30278 Profit and Loss 414,11300 Total Liabilities. . . ... .$6,138,665 78 Lands Owned C4.5«S »8 Stock* and Bonds Owned 37.5M 09 Materials and Supplied 70.148 82 Cash on Hand 176,155 97 Total Assets $6,138,665 78 S. Funded Debt. — The funded debt outstanding on June 30. 1902, consisted of $416,000 1st 4s (ext.) of March 31. 1920; $367,500 2d 4s (ext.) of Feb. 1, 1925, arid $1,497,000 consol. 5s (ext.) of March 31, 1925. The bonds cover the entire property of the company. The interest, but not the principal, of Ists Is payable in gold ; the 2ds and the consols, are payable in gold both as to prin- cipal and interest. SUPPLEMENTARY STATEMENTS FOB THE YEAR ENDING DECEMBER 31, 1902. 9. Treasurer's Account.— Cash balance from Dec. 31, 1901, $56,642.72; receipts from passengers, freight, car mileage, etc., $1,060,135.50 — total, $1,116.778.22. Deduc- tions: Operating expenses, taxes, construction and equipment, etc., $61:5,011.16; interest on bonds, $106,570; dividends — on preferred ttock (5 p. c.), $119,955.50; on common stock, $2.50; H. & B. T. consol. car trust cars, interest account, etc., $16.531.33; payment account of principal H. & B. T. consol. car trust cars, $68,000; H. & B. T. car trtst cars, series 14, interest account, etc., $11,830; principal account, II. & B. T. car trust cars, series 14, $29,000; Everett Glass Co. stock, $2,500; bills payable, $24,849.24; cash bal- ance Dec, 31, 1902, $124,528.49— total, $1,116,778.22. 10. General Balance Sheet. — Capital stock, $1,371,750; preferred stock, $2,- 000,000; funded debt, $2,280,500; scrip convertible into stock, $247; current liabilities, $63,404.72; addition to H. & B. T. consol. car trust fund, $23,455.92; profit and loss, $397,889.69 — total, $6,137,247.33. Contra: Cost of road and equipment. $5,804,599.80; real estate, $64,588.98; stocks owned, $40,000; general supplies, $53,800.85; insurance, "car trust cars," $2,045.45; bills receivable, $14,849.24; current accounts, $22,834.52; cash, $124,528.49— total, $6,137,247.33. 11. Huntingdon and Broad Top Consolidated Car Trust Fund.— Car trust cer- tificates to the amount of $680,000 were issued in 1896, payable $68,000 yearly from Oct. 1, 1897, to 1906, and with interest at 5 p. c. per annum, payable April and Oct., at the office of the trustee, The Merchants' Trust Co., Philadelphia, Pa. (See MANUAL for 1897, page 32.) Amount outstanding, Dec. 31, 1902, $272,000. These are secured on 2,400 hopper gondolas and 5 flat-bottom construction trucks. Receipts from car ser- vice, year ending Dec. 31, 1902, $135,240.37; sale of old material, $13,844.56 — total, $149,084.93. Disbursements: Repairs, pay rolls, and incidentals, $107.567.93; install- ment of principal paid Oct. 1, 1902, $68,000; interest on loan, $17,000— total. $192,567.93. Debit balance for year, $43,483. 12. Fourteenth Series Car Trust Fund.— Car trust certificates to the amount of $350,000 were issued in 1899 to pay for 500 coal cars. The certificates run 12V2 years, and bear interest at the rate of 4 p. c. per annum. Trustee: Pennsylvania Co. for In- •nirancea on Lives and Granting Annuities, Philadelphia. Pa., amount outstanding Dec. 31, 1902, $263.000. Receipts from car service to Deo. 31. 1902, $29,272.91; sale of old material, $1,779.69 — total, $31,052.60. Disbursements: Repairs, pay rolls, and incidentals, $0,569.44; proportion of principal of loan, $29,000; interest on loan, $11,680 — total, $50,249.44. Debit bal.moe for year, $19,196.84. 1J*. Directors (emoted "Feb. 3, 1903).— Thomas RPatton, ^Yilliam Bault.Wm. H. Shallcrosg, Lewi* A. Riley, Harrison K. Caner, Charles S. Farnum, James W. Paul, Jr., POOR'S MANUAL OF RAILROADS. 109 Morris W. Stroud, Charles D. Barney, Philadelphia, Pa.; Samuel Bancroft, Jr., Edward Bringhurst, Jr., Wilmington, Del. ; Robert H. Crozer, Upland, Pa. GEORGE H. COLKET, President Philadelphia, Pa. Samuel Bancroft, Jr., Vice-President Wilmington, Del. Sec. MANUAL OF RAILROADS — MIDDLE ATLANTIC (JKODP. The freight statistics in the preceding table represent revenue tonnage. In addition ( Miiip.iny s fr.-i^'lit to the amount of 4,873,973 tons was moved 766,358. r> lit mile- in : 'UnVr .Mnu- 'M, 1901, and similar freight to the amount of 5,093,790 iles in the year ending June 30, 1902. The total freight truffle- amounted to 41,:«M.7!>» tons, equal to 7,373,248,844 tons moved one mile in the year ending June -to. 1001. and 40,643,479 tons, equal to 7,251,468,766 tons one mile, in the year ending .June :- Supplementary Income Account, 9 months ending March 31, 1903. — Gross earnings, $57,602,664.55. Operating expenses, $39,453,706.44. Net earnings, $18,148,- 958.11; other income, $3,983,481.27— total, $22,132,439.38: First charges and sinking funds, $15,562,845.15. Balance, $6,569,594.23. 10. Cost of Road and Equipment $189,162,170 43 Proprietary Interests (see Sec. 12).. 115,136,029 77 Other Property (see Sec. 13) 17,256,427 71 Advances ( see Sec. 14) 9,306,910 4u Securities Acquired from Lessor Cos. 3,039,713 00 Sink. Fund for Gold Deben. of 1850.. 1,807,636 93 Fuel and Supplies on Hand 4,646,192 91 Cash Charged Treasurer 14,736,767 65 Traftic Balances Receivable 4,153,16273 Sundry Collectible Accounts 6,472,71278 General Balance Sheet, June 30, 1902. Capital Stock ($100 shares) $131,912,90000 Funded Debt Outstand. (see Sec. lOb) 193,778,355 D8 Bonds and Mortgages on Real Estate 157,000 00 Interest and Rentals Accrued 5,852,60886 Securities in Trust for Lessor Cos.. 3,039,713 00 Dividends and Interest Unclaimed. . 78,535 66 Dividend Payable Jjly 15, 1902 1,648,911 25 Wages and Supplies 5,061,91620 Traffic Balances Payable 2,089,06552 Sundry Accounts Payable 1,278,892 73 Advances by Lessor Companies 3,250,284 S6 Special Improvement Fund 1,734,87342 Prof, and Loss (Excess over Liabil.), 15,834,667 04 Total Liabilities $365,717.724 37 Total Assets $365,717,72437 lOa. Capital Stock. — At its meeting on Jan. 15, 1902, the board of directors voted to increase the capital stock of the company from $115,000,000 to $150,000,000, to provide $35,000,000 addi- tional capital for such corporate purposes as may be determined. This action was ratified at a special meeting of the stockholders held on April 16, 1902. Of the additional capital stock so author- ized, the stockholders of the company were given the privilege of subscribing for an amount equal to 15 p. c. of their holdings, or 172,500 shares, at $125 per share, the new issue to participate in the dividend payable out of the earnings of the June, 1902, quarter of the fiscal year. The stock- holders availed themselves of this privilege to the extent of 169,129 shares, and paid into the treasury the sum of $21,141,125, of which $16,912,900 was for the par value of the stock and was the amount carried to the credit of capital stock account, and $4,228,225 was the premium of $25 per share, above par, which was carried to the credit of profit and loss. The capital stock outstand- ing on June 30, 1902, was $131,912,900, leaving a balance of $18,087,100 authorized but not issued. The amount outstanding included $4,900 of consolidation certificates not yet converted. Amount of capital stock issued per mile of road owned, $162,805.18. Cost of road per mile owned, $173,774.25 ; cost of equipment per mile of road owned, $56,653.79 — total cost per mile, $230,428.04. At the New York office the treasurer transfers stock, pays dividends on stock issued in America, transfers registered bonds, and pays interest on coupon and registered currency bonds. The Union Trust Co. of New York registers stock issued in America. The London agents, J. S. Mor- gan & Co., pay dividends on stock issued in England. The Union Bank registers stock issued In England, and pays interest on sterling bonds. Dividends on stock registered in London are pay- able in gold. 1O1>. Funded Del»t — The funded debt outstanding on June 30, 1902 — total, $193,778,355.98 as per general balance sheet — consisted of the 'several issues of bonds listed in the following state- ment. Additional particulars respecting any issue will be found in the paragraph relating thereto subjoined to the statement : $18,327,000.00 1st 7s of Jan. 1, 1903, I Retired at 5,727,094.66 1st £ 6s of Jan. 1, 1903, I maturity. 4,526,000.00 Deben.. 5s of Sept. 1, 1904. 649,000.00 Deben. 5s of Sept. 1, 1904. 5,097,000.00 Gold Deben. 4s of June 1, 1905. $3,MO,500.00 Ext. Debt gold 4s of May 1, 1905. 40,426,916.32 Gold Mtge. 3Js of July 1, 1997. 90,578,400.00 Lk. S. Coll. g. 3Js of Feb. 1, 1993. 19,336.445.00 Mich. Cen. Coll. g. Sis of Fefc. 1, 1998. 5,500,000.00 Deben. 3Js of July 1, 2000, int. J. & J. Excluding the Lake Shore and Michigan Central collateral bonds and the debentures of 2,000, the amount of bonds outstanding per mile of road owned, 810.25 miles, amounted to $96,715.22 on June 30, 1902. Debenture 5 p. c. Bonds. — Secured by the 3J p. c. gold bond mortgage of 1897, but must be retired at maturity. The debentures of 1889 have a conversion privilege under which the holders may receive stock at par, instead of cash, for the bonds at maturity, in the event of the company replacing its 1st mtge. bonds with an issue of stock. Debenture 4 p. c. Bonds. — Secured by the 3J p. c. gold bond mortgage of 1897, but must be re- tired at maturity. Each certificate must be countersigned by the Union Trust Co. as registrar. Extended Debt Certificates. — Originally dated Aug. 1, 1853, and fell due May 1, 1883, when they were extended for ten years with interest at the rate of 5 p. c. per annum. On May 1, 1893, they were extended to May 1, 1905, the rate of interest being reduced to 4 p. c., and both principal and interest made payable in gold. Gold Mortgage Bonds of 1897. — Secured on the entire property of the company, whether now owned or hereafter acquired through issue of bonds secured by the same mortgage. The authorized issue is $100,000,000, of which $15,000.000 cannot be issued before Jan. 1, 1904, and then at not exceeding the cumulative rate of $1,000,000 yearly, for additions and betterments to the property. The remaining $85,000,000 were authorized for the purpose of retiring $70,377,333.33 of outstand- ing 1st mtge. bonds, extended dett certificates and debentures, at or before their maturity, $14,622,- 666.67 of such reserved bonds being intended to meet any premium necessary to retire the prior Issues. The $40,426,916.32 bonds outstanding June 30, 1902, wore Issued as to $32,440.738.67 in exchange for an equal amount of prior lien bonds, as to $4,986,177.65 as part of the $14,622,666.67 reserved for premiums, and the remaining $3,000,000 for construction and betterments. Since June 30, 1902, the amount outstanding has been increased to $66,000,000, the additional bonds having been issued mainly for the retirement of the 1st mtge. bonds. Under the terms of the mortgage, the MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. 1st mice 7 P c bonds and the 1st mtge. 6 p. c. sterling bonds, when received by the trustee, were stamped as not negotiable, and are held an additional security for the bonds Issued under this mort- Kam. while extended debt certificates and all debenture certificates, when received by the trustee, an cancelled and surrendered to the company. The mortgage requires that the outstanding old bonds shall be paid an they mature, BO that after June 1. 1905, this mortgage will be the first lieu upon the property of the New York Central and Hudson River RH. Co. Lake Shore Collateral Gold Bonds. — Authorized for the purpose of acquiring the capital stock of the Lake Shore and Michigan Southern Ry. Co., under the terms stated in the MANUAL for 1898. pagM 667 *nd 568. The bonds outstanding are secured by deposit in trust of the shares against which they were Issued. Coupon bonds are dated Feb. 1, 1898, while registered bonds are dated as of the several dates of their Issue. The bonds are a direct obligation of the New York Central and Hudson River RR. Co., and it is provided that the company shall not hereafter make any mortgage upon Its railroad or upon any substantial part thereof, without including therein the bonds of this Issue. Michigan Central Collateral Gold Bond*. — Authorized for the purpose of acquiring the capital stock of the Michigan Central RR. Co., and are similar in all respects to the Lake Shore bonds (see preceding paragraph), except that the coupon bonds are dated April 13, 1898. (See MANUAL for 1898. pages 567 and 568.) Debenture 3} p. c. Bonds of 1900. — Issued In payment for property of the Boston and Albany RR. Co. not conveyed In the lease of July 1, 1900. 11. Bond* and Interest Guaranteed. — The New York Central and Hudson River RR. Co. guarantees the bonds of most of Its leased lines, both as to principal and interest, and under the terms of the leases guarantees the interest on the rest of the leased line bonds. The following is a detailed statement of the company's guaranties : Btt t h Creek RR. : 15.000,000 1st 4s of July 1. 1936, and 1500,000 2d 5s of July 1. 1936. both Issues en- dorsed guaranteed by the N. Y. C. & H. R. RR. Co both as to principal and interest. Bi-tch Cretk Extension RR. : $3,500,000 1st gold Sis of April 1. 1951. endorsed guaranteed by the N. Y. C. A H. R. RR. Co., both as to principal und interest. Boston and Albany RR. : $3,627,000 4s of Oct. 1, 1913, and $3.858,000 3|s of April 1. 1952, both guar- anteed, principal and interest, by the N. Y. C. & H. H. RR. Co., as surety under the lease. Carthage and Adirondack R}/. : $1,100,000 1st gold 4s of Dec. I, 1981, endorsed guaranteed by the .V. Y. C. & H. R. RR. Co., both as to principal and interest. Dunkirk, Allegheny Valley and Pittsburg KB. : J2.000.000 1st 7s matured June 1. 1900; $700,000 2d 7s matured Oct. 1, 1900; and $200.000 3d 7s matured Oct. 1, 1900. Interest payable by N. Y. C. t H. R. RR. Co., under terms of the lease. Gouwerneur and Oswegatc.hie RR. : $300,000 1st gold 5s of June 1, 1942, endorsed guaranteed by the N. Y. C. & H. R. RR. Co., both as to prin- cipal an1 interest. Mohawk and Malone Ry. : $2,500,000 1st gold 4s of Sept , 1991, and $3,900.000 consol. gold 3Js of March 1, 2002, issued in place of an equal amount of 2d income 5s of Sept. 1, 1992. Both the 1st mtge. and consol. mtge. bonds are guaranteed, principal and interest, by the N. Y. C. & H. R. RR. Co., by endorsement. Ifew Jersey Junction RR.: $1.700,000 1st 4s of Feb. 1, 1986, guaranteed by the N. Y. C. & H. R. RR. Co.. both as to principal and Interest. Vein York and Harlem RR. : $12,000.000 1st gold 3|s of May 1. 2000. Interest payable by the N. Y. C. A H. R. RR. Co.. under the terms of the lease. Nt-j: York and Putnam RR. : $1 200,000 New- York and Northern Ry. 1st gold 5s of Oct. 1. 1927, and $4,025,000 N. Y. & P. RR. 1st consol. gold 4s of Oct. 1, 1993, the latter being endorsed guaran- teed by the N. Y. C. & H. R. RR. Co., both as to principal and interest. The New York and Northern bonds are a prior lien on the property. Interest on them is payable by the N. Y. C. & H. R. RR. Co., under the terms of the lease. Pi, ic Creek Ry. : $3.500,000 1st 6s of Dec. 1. 1932, endorsed guaranteed Jointly nnd severally by the N. Y. C. & H. R. RR. Co. and the Philadelphia and Reading Ry. Co. Kowc, Watcrtown and Ogdensburg RR. : $10,- 773,800 of bonds, the details of which are given in the appended statement for the R., W. & O. RR. These bonds were assumed by the N. Y. C. & H. R. RR. Co., under the terms of the lease. Carthage, Watertown and Socket's Harbor KR. : $300,000 consol. {cold 5s of July 1, 1931, en- dorsed guaranteed by the N. Y. C. & H. R. RR. Co., both as to principal and interest. Osivego and Rome RR. : $350,000 1st 7s of May 1, 1915, and $400,000 2d gold 5s of May 1. 1915. In- terest on both issues is payable by the N. Y. C. & H R. RR. Co., under the terms of the lease of the Rome, Watertown and Ogdensburg RR. Utica and Black River RR. : $1.950,000 1st gold 4s of July 1, 1922, endorsed guaranteed, principal and interest, by the Rome, Watertown and os;- densburg RR. Co., whose liability is assumed by the N. Y. C. & H. R. RR. Co., under the terms of the lease. Syracuse, Oene.va and Corning Ry. : $464,600 1st 7s of Nor. 15, 1905. and $600.000 2d 5s of March 1, im The N. Y. C. & H. R. RR. Co. pays the Interest and sinking fund charges under the terms of the lease. Wallkill Valley RR.: $250,000 1st 34s of Aug. 1, 1917, and $330.000 2d 3is of Aug. 1, 1917. Interest Is payable by the N. Y. C. & H. R. RR. Co. under the terms of the lease. West Zhore RR.: $50,000,000 1st 4s of Jan. 1, 2361. endorsed guaranteed by the N. Y. C. & H.. R. RR. Co., both as to principal and Interest. 12. Proprietary Interest*. — This item represents the company's ownership of stock of other railroad companies, as follows : Lake Shore and Michigan Southern Ry., $90,578,400 ; Michi- gan Central RR., $19,336,445 ; Chesapeake and Ohio Ry., $1.638,454.79 ; Pittsburgh and Eastern RR.. $150,000; Dunkirk. Allegheny Valley and Pittsburg RR.. $156,912.38; Syracuse, Geneva and Corning Ry.. $802,875 ; Carthage, Watertown and Sackets Harbor RR., $483,800 ; New Jersey Junction RR., $100,000; New York, New Haven and Hartford RR., $1,050,000; sundry other rail- roads, $839,142.60 — total, $115,136,029.77. 18. <>M iK-f.li ip of Other Property. — Real estate not used in the operation of the road, $3.081,069.11; Hudson River bridges at Albany. $2,256,363.36; bonds of sundry railroad com- panies, $3,344,695.24 ; stock in other than railroad companies, $8,574,300 — total, $17,256,427.71. 14. Advances for Le«*or and Other CompanleM. — New York and Harlem RR. (Mor- rlsanla Improvements and other construction, in excess of reimbursement by lessor, $1,296,765.89 ; elevation of tracks and new bridge over Harlem River, $3,139,420.23 ; Grand Central Station en- largement, $1.350,449.94; Grand Central Terminal improvements, $44,280.68), $5,830,916.74; Dunkirk. Allegheny Valley and Pittsburg RR., $205.827.73; Beech Creek RR., $729,780.85; Rome Watertown and Ogdensburg RR., $89.699 ; New York and Putnam RR., $293.669.95 ; Boston and Albany RR., $980,386.31; other companies, $1,176,629.88 — total, $9,306,910 46 POOR'S MANUAL — NEW YORK CENTRAL AND HUDSON RIVER RR. CO. 119 15. Statement showing the mileage owned, the equipment in use and the general balances of the company at the close of each fiscal year from 1896 to 1902: 1896 1897 1898 1899 1900 1901 1902 Miles of Road Owned 81945 81945 819.45 819.45 819.45 819.45 810.25 11 ilss of Track Owned 281931 2,830.73 2,836.52 2,834.25 2.852.40 2,771.bl 2,770.07 Locomotives 1 173 1.181 1,188 1,255 1,303 1,602 1,729 Passenger Train Cars 1,463 1,449 1,449 1,573 1,620% 2.058 2,104 Freight Train Cars 42,919 41,436 42,485 50,897 59.059 61,966 61,855 Tugs and Propellers 20 20 20 20 23 23 25 Barges and Floats . 115 115 116 122 156 164 162 Ferryboats 6 7 7 7 7 7 7 Capital Stock $ 100000000 $ 100000000 1 100000000 S 100000,000 115,000,000 S 115,000,000 $ 131,912,900 Funded Debt 70 377 333 70 377 333 181,490988 185,212,631 185,751,021 193,772,941 193,778,356 Real Estate Mortgages 57000 7000 7,000 7,000 7,000 157,000 157.000 Securities in Trust 2 914 150 2914,150 2,914,150 2,914,150 2,914,150 3,039,713 3,039,713 Special Improvement Fund 2,000,000 1,821,709 1,734,873 Other Liabilities 9476664 10 018 417 11,111,340 13,210,699 23,123,850 17,233,227 19,260,215 Profit and Loss 11 881 481 11465000 9 424 173 10 797 498 11,754,889 11 769,993 15.834,667 Total Liabilities 194 706 628 194 781 900 304 947 651 312 141 978 340,550,910 342,794,583 365,717,724 Permanent Property. 163 356 862 164611 166 164 886 637 165 679 754 180 258 812 184,447,913 189,162,170 Proprietary Interests I J 1 458 622 108 944 862 110690270 120 185 407 114,724,030 115,136,030 Other Investments f 17,103.196 ( 16 083 962 17 009 671 18 656 570 18,866 645 20,642,042 26,503,338 lesser Co.'s Securities 2,914,150 2,914,150 2,914,150 2,914,150 2,914,150 3,039,713 3,039,718 Fuel and Supplies 2345900 2 362 891 2 327 972 1,688,089 3,900,154 4,083,307 4,646,193 ('ash and Other Assets 8,986,520 7351 109 8 864,359 12,513,145 14,365,742 15,859,378 27,170,280 Total Assets 194 706 628 194 781 900 304 947 651 312 141 978 340 550 910 342 794,583 365,717,724 >. STOCKS AND BONDS OF OTHER COMPANIES OWNED OR HELD IN TRUST BY THE N. Y. C. & H. R. RR. Co. ON JUNE 30, 1902. STOCKS (total, $110,735,463.00). American Express Co '. 53,000,00000 Beech Creek Coal & Coke Co 500,00000 Beech Creek Extension RR. Co 4,500,000 00 Beech Creek RR. Co 1,250 00 Buffalo Crosstown Ry. Co 80,00000 Buffalo, Thous. Isl. & Portland Ry. Co. 250,000 00 Carthage & Adirondack Ry. Co 500,000 00 Carth., Watert'n & Sackets H. RR. Co. 483,800 00 Central Dock & Terminal Ry. Co 135,400 CO Chesapeake & Ohio Ry. Co 5,000,00000 Chest Creek RR. Co 20,00000 Chester & Becket RR 28,80000 deal-field Bituminous Coal Corp 825,00000 Dunkirk, Allegh. Vy. & Pitts. RR. Co. 1,067,600 00 Gouverneur & Oswegatchie RR. Co 350,000 00 Hudson River Bridge Co 500,00000 Jersey City & Bayonne RR. Co • 13,500 00 Lake Shore & Mich. So. Ry. Co 45,289,20000 Mahopac Falls RR. Co 100,000 00 Merchants' Despatch Transp. Co 2.597,400 00 Michigan Central RR. Co 16,814,30000 Mohawk & Malone Ry. Co 5,000,000 00 Morris Run Coal Mining Co 56,20000 New Jersey Junction RR. Co. New Jersey Shore Line RR. Co. New York & Putnam RR. Co. New York, New Haven & H. RR. Co.. N. Y., Ontario & West. Ry. Co., pref. Niagara Falls Branch RR 100,000 00 31,000 00 6,500,000 00 500.000 00 1,000 00 250,000 00 Oswego Agricultural Fair Asso $500 00 Oswego & Rome RR. Co 202,200 00 Pennsylvania & West. RR. Co 100,00000 Pine Creek Ry. Co 999,000 00 Pittsburg & Eastern RR. Co 197,50000 Pittsfleld & North Adams RR. Co.... 72,20000 Queenston Susp. Bridge Co. (£25 each) 40,000 00 St. Line & S. Pt. RR. Co. (10 p. c. pd.) 1,850 00 Syracuse, Geneva & Corning Ry. Co.. 821,800 00 Terminal Ry. of Buffalo 500.00000 Tivoli Hollow RR. Co 32,50000 Tonawanda Island Bridge Co 50,00000 Toronto, Hamilton & Buffalo Ry. Co. . 650,000 00 Troy Union RR. Co 15,00000 Utica & Black River RR. Co 1,120,00000 Wallkill Valley RR. Co 330,000 00 West Branch Coal Co 105,00000 Western Transit Co 1,000,000 00 West Shore & Ont. Terminal Co 2,900 00 West Shore RR. Windsor Co. Co 10,000,000 00 563 00 BONDS (total, $4,056,500.00). Chester & Becket RR. Co 50,00000 Dunkirk, Warren & Pittsburg Ry. Co. . 1,600,000 00 Rome City Street Ry. Co 26,50000 Terminal Ry. of B iffalo 500,000 00 WallRill Valley RR. Co. 1st mtge 250,000 00 Wallkill Valley RR. Co. 2d mtge 330,000 00 Warren & Venango RR. Co 1,300.00000 17. Dividends and Interest Received and Accrued, year ending June 30, 1902. — Dividends: American Exp. Co. (8 p. c.), $240,000; Beech Creek RR. (4 p. c.), $50; Carthage, Watertown and Sackets Harbor RR. (5 p. c.), $24,190; Central Dock and Terminal Ry. (3J p. c.), $5,077.50; Chesapeake and Ohio Ry. (1 p. c.), $50,000; Dunkirk, Allegheny Valley and Pittsburg RR., $9,750; Lake Shore and Michigan Southern Ry. (7 p. c. on varying amounts), $3,170,244; Merchants' Despatch Transportation Co. (6 p. c.), $155,844; Michigan Central RR. (4 p. c. on varying amounts), $672,572; Mohawk & Malone Ry. (4 p. c.), $40,833.34; Morris Run Coal Mining Co. (6 p. c.), $3,372 ; New York, New Haven and Hartford RR. (8 p. c.), $40,000 ; Niagara Falls Branch RR. (7 p. c.), $17,500; Pine Creek Ry. (3J p. c.), $34,965; Pittsburg and Eastern RR. (3J p. c.), $10,368.76; Pittsfleld and North Adams RR. (5 p. c.), $3,610; Syracuse, Geneva and Corning Ry. (3J p. c.), $28,763 — total, $4,507,139.60. Interest: Dunkirk, Warren and Pitts- burg Ry. (7 p. c. on varying amounts), $112,000; Terminal Ry. of Buffalo (4 p. c.). $20,000; Warren and Venango RR. (7 p. c. on varying amounts), $91,000 — total, $223,000. In addition to the foregoing, dividends of 3i p. c. on the stock and interest of 3J p. c. each on the 1st and 2d mtge. bonds of the Wallkill Valley RR. were credited to the West Shore RR. construction account. >0 IMHIK'S MANTAK Ok' RAILROADS— MIDDLE ATLANTIC GROUP. 18. RAILROADS LEASED BT THE New YOBK CENTRAL AND HUDSON RIVER RR. Co. HI i < ii « KI:I:K nil — Jersey Shore to :foy JiMir.. PH., 111!.:K' m. ; branches to mines. nu; id track. 3.62 in.; total -.7 lt>-. i. I'll. 71 : msroitv. — Reorganisation. June 29, lS.su. of ! leech Cr«ek. Clearfield and Soutbwi Manual for 1S86, page 323. and Manual for 1899. page 156.) Leased to the N V. C. 6 11. H. UK. I'o. for 999 years from Oft. 1, 1&90. but operated independently until July 1. ItStt. Rental. Interest on bonds and dividends of 4 p. c. per annum on the capital stock. BALANCE SHEET. June 30, 1902. — Capital stock (ISO shares). $5.665,000; funded debt, $5.- 500.000 — total. 111. 165.000. Contra: Cost of road luiprmut. $11.161.559: N. Y. C. & H. R. RR. Co., $3.441 — total, $11.165.000. CAPITAL STOCK INCREASED. — Since June 30. 1902, the capital stock outstanding has been increased to $6.000,000, the additional shares being Issued for betterment?, etc. I't NOED DEBT. June 30. 1902, consisted of $6.0.nOO In 3J p. c. 100-yr. gold debenture bonds of the New York Central and Hudson River RR. Co. General Balance Sheet, June 30, 1902. Capital Stock $25,000,00000 Funded Debt 7,485,00000 Dividends and Interest Unpaid 70,38675 Organization Expenses 3,75862 Dividend Fund 5,500,000 00 Ware River Railroad Sinking Fund. . 183.868 62 Profit and Loss 1,543.86770 Total Liabilities $39,786,881 69 Cost of Road $28,015,484 61 Cost of Equipment 3.572,400 00 Cash 74,14537 Due from N. Y. C. & II. R. RR. Co. . 2.440 ,f'83 09 Trustees Ware River Sinking Fund.. 183,868 62 N. Y. C. & H. R. RR. Co. 3J p. c. Debenture Bonds 5,500,00000 Total Assets $39,786,881 69 The authorized capital stock is $30, 000,000 in $100 shares. Funded debt. June 30, 1902, consisted of $3,627,000 ($5,000,000 auth.) 4s of Oct. 1, 1913, and $3,858.000 3js of April 1, 1952. The N. Y. C. & H. R. RR. Co. guarantees the bonds both as to prin- cipal and interest, as surety under the lease. In- terest and dividends, Including dividends paid as rental for the Pittsfield and North Adams and the Ware River RRs., are payable at the office of the company in Boston. DIRECTORS, B. *. A. RR. Co. — Wm. Bliss, Walter H. Barnes, Reginald Foster, Albert C. Houphton, Boston, Mass. ; Augustus G. Bullock. Edward L. Davis, Stephen Salisbury, Worcester, Mass. ; Eenas Crane, Dalton. Mass. ; Eben S. Draper, Hopedale, Mass. ; Edward D. Hayden, Woburn, Mass. ; Samuel Hoar, Concord, Mass. ; James A. Rumrlll, Springfield, Mass. ; Charles S. Sargent, Brookllne, Mass. Officers : Wm. Bliss, Pres. ; Edward D. Hayden. Vice-Pres., Sec. & Clerk; Frank H. Ratcliffe, Treas., Boston, Mass. Office, South Terminal Station, Boston, Mass. 18». RAILROADS LEASED OR OPERATED BY THE BOSTON AND ALBANY RR. C». rh««ter and Meeket RR Chester to Pocket. Mass.. 5.27 m : totnl track. 7.0X miles. Chartered July 24. 1S96 : opened In Nov., 1897. Operated under contract by the B. & A. RR. Co. Balance sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; funded debt (1st 5s of July 1. 1917), $50,000; unfunded debt. $55.290— total, $155,290. Contra: Cost of road, $136,894; POOR'S MANUAL NEW YORK CENTRAL AND HUDSON RIVER RR. CO. 121 cash, $236; profit and loss, $18,160 — total, $155,- 299. J. A. Rumrill, Pres. ; F. H. Ratcliffe, Treas. A Clerk, Boston, Mass. Office, Boston, Mass. North Brookfleld RR. — East Brookfleld to North Brookfield, 4 m.< total track, 5.37 miles. Chartered In March, 1875 ; road opened Jan. 1, 1876. Leased Feb. 6, 1885, for 50 years, at an annual rental of $3,000, being 3 p. c. on the capital stock. Capital stock, representing cost of road, etc., $100,000. Sumner Holmes, Pres. ; S. A. Clark, Vice-Pres. ; Chas. E. Batcheller, Treas. ; G. R. Hamant, Sec., North Brookfteld, Mass. Office, North Brookfield, Mass. Plttsfleld and North Adams RR. — Pitts- neld to North Adams, 18.55 m. ; total track, 25.95 miles. Rail (steel, 25.95 m.), 65 and 72 Ibs. Chartered March 18, 1845 ; road opened Dec. 1, 1846. Leased for 99 years from Dec. 1, 1876, at 5 p. c. on cost. Dividends (J. & J.) of 2J p. c. each. Capital Stock, representing cost of prop- erty, $450,000. J. A. Rumrill, Pres. ; F. H. Ratcliffe, Clerk & Treas., Boston, Mass. Office, Boston, Mass. Providence, Webster and Sprlngfleld RR. — Webster to Auburn (Boston & A. RR.), 18b. Railroads Leased by N. Y. CARTHAGE AND ADIRONDACK RY Carthago to Newton Falls, N. Y., 45.85 m. ; total traqk (steel; 60 Ibs.), 57.47 miles. HISTORY. — Chartered March 28, 1883 ; opened throughout Aug. 22, 1889. Leased in perpetuity, from May 1, 1S93, to the N. Y. C. & H. R. RR. Co. ( See Manual for 1899, page 153.') BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $500,000; funded debt (1st 4s of Dec. 1, 1981; $1,600,000 auth.), $1,100,000; profit and loss. $21,785 — total, $1,624,785. Contra: Cost of road, elc., $1,599,273; current accounts, $25,512 — total, $1,624,785. The N. Y. C. & H. R. RR. Co. owns the entire capital stock. The bonds are guaranteed, both as to principal and interest, by the N. Y. C. & H. R. RR. Co. CORPORATE OFFICERS. — W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; W. S. Crane, Treas., New York, N. Y. Office, Grand Central Station, New York, N. Y. PALI, BROOK RY. — Corning, N. Y., to Antrim, Pa., 51.66 m. ; Cowanesque Valley June, to riysses, Pa., 39.85 m. — total, 91.51 m. ; 2d track, 2.12 m. ; total track (steel; 76 Ibs.), 143.62 miles. HISTORY. — Organized July 1, 1892, as suc- cessor (by change of name) to the Corning, Cowanesque and Antrim Ry. Co. (See Manual for 1892, page 186.) Leased to the N. Y. C. & H. R. RR. Co., for 999 years from May 1, 1899, at a rental of $175,000 a year, payable in gold in quar- terly installments, beginning Aug. 1, 1899. BALANCE • SHEET, June 30, 1902. — Capital stock ($500,000 preferred, $4,500,000 common; $50 shares), $5,000,000; profit and loss, $954,157 — total, $5,954,157. Contra : Cost of road and equip- ment, $5,100,539 ; sundry accounts, $35,082 ; items conveyed to lessee, $818.536 — total, $5,954,157. CORPORATE OFFICERS. — John Magee, Pres. ; Daniel Beach, 1st Vice-Pros., Watkins, N. Y. ; J. H. Lang, 2d Vice-Pres. & Treas., Corning, N. Y. ; D. S. Ellsworth, Sec., Watkins, N. Y. Office, Corning, N. Y. GOUVERNEUR AND OSWEGATCHIE RR. — Gouverneur to Edwards, N. Y., 13.24 m. ; total track (steel; 70 Ibs.), 16.61 miles. HISTORY. — Chartered April 13, 1892; opened July 18, 1893. Leased in perpetuity, July 8, 1892, to the N. Y. C. & H. R. RR. Co. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $350,000; funded debt (1st 5s of June 1, 1942), $300,000 — total, representing cost of property, $650,000. The N. Y. C. & H. R. RR. Co. owns the entire capital stock and guarantees the bonds. Mass., 11.23 m. ; total track (steel; 56 Ibs.), 14.48 miles. Chartered March 23, 1882 ; road opened in June, 1884. Leased to the B. & A. RR. Co. for 10 years from May 1, 1897. Income, year ending June 30, 1902, $7,911. Ex- penses and taxes, $4,813. Net income, $3,098. Balance Sheet, June 30, 1902. — Capital stock, $160,000 ; unfunded debt, $69,325 ; profit and loss, $15,757 — total, $245,082. Contra : Cost of road, $243,301 ; other assets, $1,721 — total, $245,082. Chas. G. Washburn, Pres. ; Frank B. Smith, Treas., 314 Main St., Worcester, Mass. ; Charles Gerber, Clerk, Webster, Mass. Office, Webster, Mass. "Ware River RR — Palmer to Winchendon, Mass., 49.35 m. ; total track, 56.37 miles. Rail (steel, 53.45 m.), 65 to 72 Ibs. Chartered April 21, 1873 ; road opened Jan. 5, 1874. Leased for 999 years from Jan. 5, 1874, at an annual rental of 7 p. c. on capital stock. Balance Sheet, June 30, 1902. — Capital stock (auth., $1,000.000), $750,000; unfunded debt, $365,- 164 — total, representing cost of property, $1,115,- 164. J. A. Rumrill, Pres. ; F. H. Ratcliffe, Treas. ; E. W. Long, Clerk, Boston, Mass. Office, Boston, Mass. C. & H. R. RR. Co. — Continued. CORPORATE OFFICERS. — W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; W. S. Crane, Treas., New York, N. Y. Office, Grand Central Station, Now York, N. Y. MOHAWK AND MALONE RY Herkimer to Malone, N. Y., 173.33 m. ; Prospect Junction to Hinckley, N. Y., 2.9(5 m. ; Lake Clear Junction to Saranac Lake, N. Y., 5.93 m. — total, 182.22 m. ; total track (steel ; 60 and 75 Ibs.), 232.99 miles. HISTORY. — Consolidation, June 22, 1892, of tho Herkimer, Newport and Poland Extension and the St. Lawrence and Adirondack RR. Cos. Com- pleted throughout in Nov., 1892. Leased in per- petuity, April 20, 1893, to the N. Y. C. & H. R. RR. Co. That lease was terminated on April 16, 1902, and a new one made, to run during the corporate existence of the company and any ex- tensions thereof, at a rental of the interest on the bonds, dividends at the rate of 4 p. c. a year on the capital slock and the expense of maintaining the organization. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $5,000,000; funded debt ($2,- 500,000 1st 4s of Sept. 1, 1991; and $3,900,000 in- come 5s of Sept. 1, 1992), $6,400,000 — total, repre- senting cost of road, etc., $11,400,000. The N. Y. C. & H. R. RR. Co. owns the entire capital stock and guarantees the 1st mtge. bonds, both as to principal and interest. In connection with the new lease a mortgage has been executed in favor of the Guaranty Trust Co. of New York, as trustee, to secure an issue of $10,000,000 consol. mtge. gold bonds, $3,900,000 of which, bearing in- terest at the rate of 3* p. c. per annum, have been Issued in place of the income bonds, $2,500.- 000 additional are reserved for the retirement of the 1st mtge. bonds, and the remaining $3,600,000 are to be issued from time to time for additions and betterments. The new bonds are guaranteed, both principal and interest, by the N. Y. C. & H. R. RR. Co., the guaranty being endorsed on each bond. CORPORATE OFFICERS. — W. H. Newman, Pres.; W. Seward Webb, Vice-Pres.; E. V. W. Rossiter, Treas. & Sec., New York, N. Y. Office, Albany, N. Y. NEW JERSEY' JUNCTION RR. — Wee- liawken to Jersey City, N. J., 4.43 m. ; Harsimu.s Branch, 0.34 m. ; 2d track, 4.33 m. ; 3d track, 2.8 m. ; 4th track, 2.04 m. ; total track, 16.80 miles. HISTORY. — Organized in New York, Feb. 27, 18S6, to provide connections and facilities for in- terchange of traffic between the several railway systems terminating at Jersey City, Hoboken, and Weehawken. The company has completed a 122 POOR'S MANUAL OP RAILROADS MIDDLE ATLANTIC GROUP. line starting from the West Shore RR. on the north, and extending southerly to the D., L. A w . tne Erie, and the Penn. RRs. A portion of Its track Is used by the Erie RR. Co. under con- tract Leased for 100 years from July 1, 1886, to the N. Y C. & II. R. RR. Co. BALANCE SHEET, June 30. 1902. — Capital stork ($100 shares). 1100,000 ($4,000.000 auth.), funded debt (1st 4s of Feb. 1, 1986), $1.700.000; bonds and mortgages, $1,900 ; current liabilities. $10.039 — total, $1,811,939. Contra: Cost of road, $1,721A21 ; advances, $63,358 ; cash assets, $26,760 — total. $1,811,939. The N. Y. C. ft H. R. RR. Co. owns the capital stock, and guarantees the bonds, both as to prin- cipal and interest. Amount of bonds authorized, $4,000,000 ; the balance m»y be Issued only with the consent of the lessee. CORPORATE OFFICERS. — W. H. Newman. Pres. ; .1. D. Layng, Vlce-Pres. ; E. V. W. Ros- slter, Sec. ft Treas., New York, N. Y. Office, Grand Central Station, New York. N. Y. NEW YORK AND HARLEM RH New York to Chatham, N. Y.. 127.45 m. ; branches, 9.15 m. ; 2d track. 36.63 m. : 3d track, 12.40 m. ; 4th track, 12.17 m. ; total track (steel ; 60 to 100 IDS.). 261.70 miles. HISTORY. — Chartered April 25. 1831, and cor- porate existence extended Dec. 28. 1874. for 500 years from April 16, 1889. Road opened May 10, 1852. Leased April 1, 1873, for 401 years, to the N. Y. C. A H. R. RR. Co., at a rental equivalent to 8 p. c. on stock (Jan. and July) and Interest on bonds. The bonds, originally 7s, matured May 1, 1900, and were extended for 100 years, the rate of interest being reduced to 3i p. c. per an- num. Of the $420.000 saved yearly under this arrangement this company receives $200.000 anrt the lessee $220.000. This company owns the Fourth Avenue (street) Ry. in the city of New York (see General Index), aggregating 9.71 m. of double track, which is leased for 999 years from July 1. 1896. to the Metropolitan Street Ry. Co., at a rental of $400.000 a year. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $10.000,000; funded debt (gold 3Js of May 1, 2000), $12,000,000; current liabilities. $18,409 ; profit and loss, $500,114 — total, $22,578,523. Contra: Cost of property (exclusive of $5,830,916 construction advances by lessee), $22,220,726; other investments, $156,815 ; fuel and supplies, $6t),696 ; cash and current assets, $144,286 — total, $22,578,523. CORPORATE OFFICERS.— W. K. VanderbiH. Pres. ; E. V. W. Rossiter, Vice-Pros. & Sec. ; W. S. Crane, Treas., New York, N. Y. Office, New York, N. Y. RAILROAD LEASED TO N. Y. ft H. RR. Co. New York and Mahopac RR. — Golden's Bridge to Lake Mabopac, 7.25 miles. The line is Included in the mileage (branches) of the New York and Harlem RR. Organized Ma.vh 7. 1871 ; opened June 17, 1872. Leased to N. Y. & H. RR. Co., and transferred with that company's line to the N. Y. C. & H. R. RR. Co. Rental, 7 p. c. on stock, 5265.000, all of which Is owned by the N. Y. & H. RR. Co. Lease expire* Dec. 31, 1971. Railroad Leased to N. Y. C. «€ H. R. RR. Co. — Continued. NEW YORK AND PUTNAM RR 155th St. and 8th Ave., New York, to Putnam June., N. Y., 53.73 m. ; Van Cortlandt June, to Yonkers, N. Y., 3.10 m. : Mahopac Falls RR. (operated), Baldwin Place to Mahopac Falls, N. Y., 2.05 m. — total, 58.88 m. ; 2d track, 8.2 m. ; total track (steel ; 60 and 76 IDS.), 79.90 miles. HISTORY. — Reorganization, Jan. 12, 1894, of the New York and Northern Ry. Co. (See Manual for 1893, page 437.) Leased for the term of the company's corporate existence to the N. Y. C. & H. R. RR. Co. ; rental, fixed charges. BALANCE SHEET. June 30. 1902. — Capital stock ($100 shares), $6,500,000; funded debt, $5,- 225,000 — total, $11,725,000. Contra : Cost of prop- erty. $11,700,000; stock owned, $25,000— total, $11,- 725,000. The N. Y. C. & H. R. RR. Co. owns the entire capital stock. FUNDED DEBT outstanding on June 30, 1902, consisted of $1,200,000 N. Y. & N. Ry. Co. 1st 5s of Oct. 1, 1927; and $4,025,000 ($6,200,000 auth.) N. Y. & P. RR. Co. 1st consol. 4s of Oct. 1, 1993. The unissued consol. mtge. bonds are reserved, $975,000 for improvements and $1,200,000 for the retirement of the N. Y. & N. 1st mtge. 5s, at or before their maturity. The consol. mtge. bonds are guaranteed, both as to principal and interest, by the N. Y. C. & H. R. RR. Co., and the guaranty is endorsed on each bond. CORPORATE OFFICERS. — W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; W. S. Crane, "Breas., New York, N. Y. Office, Grand Central Station, New York, N. Y. SUBSIDIARY ROAD, N. Y. & P. RR. Full* RR. — Baldwin Place to Mahopac Falls, 2.05 miles. Rail (steel), 56 Ibs. Chartered March 8. 1884 ; opened Nov. 1, 1884. Operated as a branch of the N. Y. ft P. RR. Balance Sheet, June 30, 1902. — Capital stock, Railroads Leased by N. Y. C. PINE CREEK RY Stokesdale June, to Newberry June., Pa., 74.96 m. ; 2d track, 12.73 m. ; total track (steel ; 70 IDS.), 126.70 miles. HISTORY. — Organized June 6, 1884, as suc- cessor to the Jersey Shore, Pine Creek and Buffalo Ry. Co. Leased to the N. Y. C. & H. R. RR. Co. for 999 years, from May 1, 1899, at a rental of $35.000 a year and the interest on the outstanding bonds. BALANCE SHEET, June 30, 1902. — Capita) stock ($4,000,000 auth.; $50 shares), $1,000,000; funded debt (1st 6s of Dec. 1, 1932). $3,500.000; Items conveyed to lessee, $203,568 ; profit and los^, $8.194 — total, representing cost of road and equip- ment. $4.711.762. The N. Y. C. ft H. R. RR. Co. owns $999.000 of the capital stock. Principal and interest of bonds are guaranteed Jointly and severally by the New York Central and Hudson River RR. Co. $100,000; income balance, $113 — total, represent- ing cost of road, etc., $100,113. The N. Y. C. ft H. R. RR. Co. holds the entire capital stock. John Carstensen, Fres. ; W. S. Crane, Treas. ft Sec., New York, N. Y. Office, Grand Central Sta- tion, New York, N. Y. d H. R. RR. Co. — Continued. and the Philadelphia and Reading Ry. Co., the guarantors to receive 2d mtge. bonds for any advances to meet interest. CORPORATE OFFICERS. — Jefferson Harrison, Pres., Wellsboro', Pa. ; W. H. Newman, Vice- Pres. ; E. V. W. Rossiter, Sec. & Treas., New York, N. Y. Office, Wellsboro'. Pa. ROME, WATERTOWN AND OGDENS- IH'RG RR Massena Springs to Richland, N. Y., 119.13 m. ; Richland to Rome, N. Y., 41.28 m. Oswego June, to Niagara June., N. Y., 143.86 m. Rochester to Windsor Beach, N. Y., 7.30 m. Woodard June, to Fulton, N. Y., 17.08 m. ; Water town June, to Cape Vincent, N. Y., 24.43 m. De Kalb June, to Ogdensburg, N. Y., 19.04 m. Syracuse to Pulaski, N. Y., 37.57 m. — total lines owned, 409.69 miles. Leased lines: Utica and Black River RR., 150.20 m. ; Oswego and Rome RR.. 27.25 m: ; Niagara Falls Branch RR., 8.58 POOR'S MANUAL NEW YORK CENTRAL AND HUDSON RIVER RR. CO. 123 miles ; Carthage, Watertown and Sackets Harbor RR., 28.76 m. — total leased lilies, 214.79 miles. Total owned and leased, 624.48 m. ; 2d track, 4.95 m. ; total track (steel; 56, 60 and 75 Ibs.), 823.83 miles. HISTORY. — Consolidation, Oct. 1, 1861, of the Watertown and Rome and the Potsdam and Watertown RR. Cos. ( See Manual for 1891, page 482.) Leased, March 14, 1891, for the term of its corporate existence, to the N. Y. C. & H. R. RR. Co., at an annual cash rental of $7,000 (after April 1, 1901), besides interest on bonds, and 5 p. c. dividends on stock, the lessee also assum- ing rental charges on account of the company's leased lines. General Balance Sheet, R., W. & O. RR. Co., June 30, 1902. Capital Stock ($100 shares) $10,000,00000 Funded Debt Outstanding 10,773,800 '30 Bonds and Mtges. on Real Estate 51,750 00 Open Accounts Profit and Loss 144,56045 Total Liabilities $20,970,377 38 Cost of Road and Equipment $18,261,861 38 Stocks and Bonds Owned 2,494,076 92 R., W. & O. Stock 43 00 Bonds and Mtges. on Real Estate. . 14,000 00 N. Y. Cent. & Hudson Riv. RR. Co. . 200,203 51 Cash on Hand 19257 Total Assets $20,970,377 38 Funded debt, July 1, 1902, consisted of — $417,800 W. & R. Ext. 1st 6s of Sept. 1, 1910, int. M. & S. *9,576,000 R., W. & O. cons. 5s and 3Js of July 1, 1922, int. A. & O. 100,000 O. RR. Bridge 1st 6s of July 1, 1915, int. F. & A. $175,000 S., P. & O. RR. 1st 6s of Feb. 1, 1915, int. F. & A. $130,000 N. & M. RR. 1st 5s of April 1, 1916, int. A. & O. 375,000 R., W. & O. Term. 1st 5s of May 1, 1818, int. M. & N. * $9,076,000 5s and $500,000 3Js. The W. & R. Ext. bonds are secured by first mortgage on the line from Rome to Cape Vincent, N. Y., 97 miles. The R., W. & O. consols are secured by first mortgage on the lines from Oswe- go to Lewiston, Watertown to Norwood, De Kalb Junction to Ogdensburg and Syracuse to Pulaski, aggregating 278.61 miles in length, and by second mortgage on the rest of the road. The O. RR. Bridge bonds are secured by first mortgage on the Oswego Railroad Bridge. The S., P. & O. RR. bonds are secured by first mortgage on the line from Woodard Junction to Fulton, N. Y., 17.08 miles. The N. & M. RR. bonds are secured by first mortgage on the line from Norwood to Massena Springs, N. Y., 12.91 miles. The R., W. & O. Terminal bonds are secured by first mortgage on the line from Rochester to Windsor Beach, N. Y.. 7.3 miles. The directors of this company are ex-officio directors of the Utica and Black River and the Oswego and Rome RR. Cos. The company owns a majority ($1,120,000) of the capital stock of the Utica and Black River RR. Co. and that stock is held in the treasury of the N. Y. C. & H. R. RR. Co. DIRECTORS (R., W. & O. RR. Co.).— Charles Parsons, Clarence S. Day, William Lummis, George Parsons, Edwin Parsons, Chauncey M. Depew, William H. Newman, Jefferson Hogan, New York, N. Y. ; Walton Ferguson, Stamford, Conn. ; John F. Maynard, John M. Grouse, Isaac N. Maynard, Wm. Pierrepont White, Utica, N. Y. Officers : Charles Parsons, Pres. ; Clarence S. Day, 1st Vice-Pres. ; Edwin Parsons, 2d Vice- Pres. & Treas. ; Joseph A. Lawyer, Sec. ; Wm. H. Platt, Asst. Sec., New York, N. Y. Office, 15 Broad St., New York, N. Y. LEASED LINES OF THE ROME, WATERTOWN AND OGDENSBURG RR. Co. Carthage, Watertown and Sacketn Harbor RR. — Carthage to Sackets Harbor, N. Y., 28.76 miles. Chartered Feb. 1, 1869; opened in 1872. Leased in perpetuity, Feb. 1, 1872, to the Utica and Black River RR. Co., at a rental equal to 37J p. c. of gross earnings. Lease transferred, April 14, 1886, to the R., W. & O. RR. Co., and assumed by the N Y. C. & H. R. RR. Co. on March 14, 1891. Rental, year ending June 30, 1902, $44,448. Balance Sheet, June 30, 1902. — Capital stock paid in ($721,500 auth. ; $100 shares), $487,345; funded debt (consol. 5s of July 1, 1931), $300,000; on-rent liabilities, $925; profit and loss, $47,375 — total, $835,645. Contra : Cost of road, etc., $775,- 112; cash assets, $60,533 — total, $835,645. W. H. Newman, Pres.; S. E. Williamson, Vice- Pres. ; E. V. W. Rossiter, Sec. ; George S. Prince, Treas., New York, N. Y. Office, Watertown, N. Y. Niagara Fulls Branch RR. — Suspension Bridge to Lewiston June., N. Y., 8.58 miles. Chartered Dec. 24, 1875. Leased to the R., W." & O. RK. Co., from Nov. 1, 1881, at an annual rental of 7 p. c. on $250,000 capital stock, all of which is owned by the N. Y. C. & H. R. RR. Co. Lease assumed by the N. Y. C. & H. R. RR. Co., on March 14, 1891. Cost of road, $243,756 ; current assets, $6,244 — total, $250,000. W H. Newman, Pres. ; S. E. Williamson, Vice- Pres. ; E. V. W. Rossiter, Sec. & Treas., New York, N. Y. Office, Grand Central Station, New York, N. Y. Oswepro and Rome RR. — Oswego to Rich- land, N. Y., 27.25 miles. Chartered April 11, 1863 ; opened Jan. 1, 1866. Leased to the R., W. & O. RR. Co. at a rental equal to bond interest. Lease assumed on March 14, 1891, by the N. Y. C. & H. R. RR. Co. Balance Sheet, June 30, 1902. — Capital stock, $225,000; funded debt, $750,000 — total, $975,000. Contra : Cost of road, $964,900 ; capital stock in treasury, $10,100 — total, $975,000. The N. Y. C. & H. R. RR. Co. owns $202.200 of the capital stock. Funded debt consists of $350,- 000 1st 7s of May 1, 1915 ; and $400,000 2d 5s of May 1, 1915. Charles Parsons, Pres. ; Edwin Parsons, Vice- Pres. ; Wm. H. Platt, Sec. & Treas., New York, N. Y. Office, 15 Broad St., New York, N. Y. Utica and Black; River RR. — Utica to Ogdensburg, N. Y., 134.28 m. ; Theresa June, to Clayton, N. Y., 15.92 m. — total, 150.20 miles. Consolidation, March 18, 1886, of the Utica and Black River, Ogdensburg and Morristown, and Clayton and Theresa RR. Cos. (See Manual for 1891, page 485.) Leased in perpetuity, April 14, 1886, to the "R., W. & O. RR. Co. Lease trans- ferred to the N. Y. C. & H. R. RR. Co. on March 14, 1891. Rental, interest on bonds, dividends of 7 p. c. on the capital stock, and $4,500 for or- ganization expenses. Balance Sheet, June 30, 1902. — Capital stock paid in ($3,000,000 auth.; $100 shares), $2,223,000; funded debt (1st 4s of July 1, 1922), $2,000,000; profit and loss, $195,593 — total, $4,418,593. Contra : Cost of road, etc., $4,368,222 ; bonds in treasury, $50,000; cash, $371 — total, $4,418,593. A majority ($1,120,000) of the stock is owned by the R., W. & O. RR. Co., having been ex- changed for securities of that company, and the directors of the R., W. & O. RR. Co. have be- come ex-officio the directors of this company. Consequently the agreement between this com- pany and the R., W. & O. RR. Co. is virtually a consolidation. .John F. Maynard, Pres., Utica. N. Y. ; Edwin Parsons, Vice-Pres. & Treas. ; Wm. Lummis, 2d Vice-Pres. ; W. H. Platt, Sec.. New York, N. Y. Office, Utica, N. Y. UM POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. Kail roads Le I •!•:> IX \ \ II. \M> TOUT MORRIS H u. Dujrvil to Harlem June.. 6.04 m.. doubl- tra.k; total track (steel; 80 Ibs.), 14.38 HISTOHV.— Chartered April 24. 1867; opened April 7. 1S72. Ix-ascd Nov. 1. 1871, to N. Y. C. & II. R. RR Co.. at 8 p. c. on capital stock. Lease expires Dec. 31, 1970. FINANCIAL STATEMENT. — Capital stock ($100 shares), representing cost of road, $989,000. CORPORATE OFFICERS.— W. II. Newman, Pres. ; E. V. W. Rosslter. Vlce-Prcs. & Treas. ; B. D. Worrfrtcr. Sec.. New York. N. Y. Office, Grand Contrnl Station, New York, N. Y. SYK \CIM-. 4.KM-.VA AND CORNING RV.— Corning to Geneva, N. Y.. 57.69 m. ; Penn Yan to Dresden, N. Y., 6.58 in. — total, 64.27 m. ; total track (steel; 60 to 76 Ibs.), 99.04 miles. HISTORY. — Chartered Aug. 27, 1875; road opened Dec. 10, 1S77. (See Manual for 1899, page 171. ^ Leased to the N. Y. C. & H. R. RR. Co., for 999 years from May I, 1S99, at a rental of $46.- 375 a year and the Interest on the outstanding bonds. BALANCE SHEET, June 30, 1902. — Capital stork (MOO shares), $1,325.000; funded debt, $1,- 017,100; profit and loss, $770,814 — total, $3.112,914. Contra : Cost of road, $3,061,978 ; Items conveyed to lessee, $50.936-total. $3,119,620. FUNDED DEBT consists of $417,100 1st 7s of Nov. 15. 1905'; and $800,000 2d 5s of March 1, 1909. CORPORATE OFFICERS. — W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec.; W. S. Crane. Treas., New York, N. Y. Office, Grand Central Station, New York, N. Y. TIVOLI HOLLOW RR West Albany to lumber yards, Albany, N. Y., 1.24 m. ; total track (steel, 1.24 m.), 1.89 miles. HISTORY. — Chartered May 15, 1893. Operated under contract by the N. Y. C. & H. R. RR. Co. FINANCIAL STATEMENT. — Capital stock ($100 shares), $32,500, representing cost of road. The N. Y. C. & H. R. RR. Co. owns the entire capital stock. CORPORATE OFFICERS. — W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; W. S. Crane, Treae., New York, N. Y. Office, Al- bany, N. Y. TKOY AND GREENBUSH RR. — Troy to Greenbush, 5.56 m. ; 2d track, 5.56 m. ; total track, 22.93 miles. HISTORY.— Chartered in Jan., 1845; opened in June, 1846. Leased from June 1, 1851, for $19,250 per annum. Dividends, 7 p. c., $19,208, payable at Troy. N. Y. BALANCE SHEET, June 30, 1902. — Capita! stock ($50 shares), $275,000; profit and loss, $6,117 — total, $281,117. Contra: Cost of road ($45,833 p. m.), $275.000; stock owned, $5,640; cash and assets, $477— total. $281.117. CORPORATE OFFICERS. — W. A. Thompson, Pres. ; W. H. Doughty, Vice-Pres., Troy, N. Y. ; 12. C. Gale, Treas. & Sec., Williamstown, Mass. Office, Troy, N. Y. WALLKILL VALLEY RR Kingston to Montgomery. N. Y., 32.88 m. ; total track (steel; 56 to 67 Ibs.), 38.33 miles. HISTORY. — Reorganization, July 2, 1877, of the Wallkill Valley Ry. Co. Leased in perpetuity, from May 1, 1899, to the N. Y. C. & H. R. RR. Co., the rental to be interest on the bonds at the re- duced rule of 3J p. c. a year, and dividends at the rate of 3i p. c. a year on the capital stock. Dividends are paid in gold, in quarterly install- ments. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $330.000; funded debt, $580,- 000; profit and loss, $96,227 — total. $1,006,227. Con- tra : Cost of road, etc., $946,878 : items conveyed to lessee, $59,349— total, $1.006,227. It is provided that the capital stock may be Increased to $1,500,000 for the purpose of paying off the bonds and to meet other lawful require- ments of the company. The bonded debt consists of $250,000 1st 3Js of Aug. 1, 1917 ; and $330,000 2d 31s of Aug. 1, 1917. CORPORATE OFFICERS. — W. II. Newman. Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; W. S. Crane, Treas. Office, 5 Vanderbilt Ave.. New York, N. Y. •WEST SHORE RR. — Weehawken, N. J., to Buffalo, N. Y., 423.50 m. ; Rockland Lake to Con- gers, 1.17 m. ; Ravena, N. Y., to Kenwood Junc- tion, N. Y., 11.52 m. ; Syracuse to Earlville, N. Y., 42.78 m. — total, 478.97 m. ; 2d track, 338.78 m. ; 3d track, 6.36 m. ; total track (steel ; 67 Ibs.), 1,114.89 miles. HISTORY. — Chartered Dec. 5, 1885, as yuccessor to the New York, West Shore and Buffalo Ry. Co. The West Shore and Ontario Terminal Co. of New York and New Jersey was absorbed on June 25, 1901 ; its bonds have been retired and can- celled. The property is leased for 475 years from Jan. 1, 1886, to the N. Y. C. & H. R. RR. Co. The New York, Ontario and Western RR. Co. has trackage rights for tnrough business only over the line from Cornwall to Weehawken under the terms given in the statement for that com- pany (see General Index). BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $10,000,000; funded debt (1st 4s of Jan. 1, 2361), $50,000,000 — total, representing cost of property, $60,000,000. The N. Y. C. & H. R. RR. Co. owns the entire capital stock and guarantees the bonds by en- dorsement, both as to principal and interest. The bonds are secured on all the property of the com- pany, including the terminals at Weehawken. CORPORATE OFFICERS. — W. H. Newman. Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; J. D. Layng, 2d Vice-Pres. ; E. L. Rossiter, Treas. & Asst. Sec. Office, Grand Central Station, New York, N. Y. 19. RAILROADS OPERATED BY THE NEW YORK CENTRAL AND HUDSON RIVER RR. Co. UNDER CONTRACT OTHER THAN LEASE. Ill 1 I \l.o ERIE BASIN RR In Buffalo, N. Y., from N. Y. C. & H. R. RR. to Erie Basin Wharf. 0.26 mile. HISTORY. — Chartered July 8, 1876. The road is operated under contract by the N. Y. C. & H. R. RR. Co., the results of operation being in- cluded in the income account of that company. FINANCIAL STATEMENT.-- Capital stock ($200 shares). $13,503, representing cost of road. CORPORATE OFFICERS.— W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; W. S. Crane, Treas., New York, N. Y. Office, Grand Central Station, New York N Y MBW YORK CENTRAL NIAGARA RIVER RR in Buffalo, N. Y., from N. Y. C. It H. R. RR. to Niagara River. 2.81 miles. HISTORY.— Chartered March 26. 1877. Or- ganized to construct and extend and to operate a railroad already constructed be- tween the N. Y. C. & H. R. RR. and the Niagara River, and around Tonawanda Island, in the Niagara River, with branch lines or track con- necting with the New York Central tracks, an>l also extending to docks and piers on the river before named. The part of the road constructed is operated under contract by the N. Y. C. & H. R. RR. Co. FINANCIAL STATEMENT. — Capital stock ($150,000 auth. ; $100 shares), $28,100, representing cost of property. CORPORATE OFFICERS. — W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. & Sec. ; W. S. Crane, Treas., New York, N. Y. Office, Grand Central Station, New York, N. Y. POOR S MANUAL NEW 1'OKK CENTRAL AND HUDSON RIVER RR. CO. 125 PITTSBURGH AND EASTERN RR Mahaffey to Arcadia, Pa., lo. -10 m. ; total traclr (steel; 70 Ibs.), 17.34 miles. Locomotives, 2. Cars — passenger, 1; freight (flat), 9; other, 1 — total, 11. HISTORY. — Consolidation, Jan. 3, 1895, of the Philadelphia and Pittsburgh RR. Co., Loyalhanna and Yougtnogheny RR. Co., and Pittsburgh and Eastern RR. Co. Road opened June 1, 1S97. Au extension has been authorized to be built from Burnside to Cherry Tree, Pa., about 9 miles, at an approximate cost of $300,000. The road is owned jointly by the New York Central and Hudson River RR. Co. and the Pennsylvania RR. Co., and is operated under contract by the former. FINANCIAL STATEMENT. — Capital stock paid in ($5,000,000 auth. ; $50 shares), $395,000; profit and loss, $101,123 — total, $496,123. Contra : Cost of property, $495,976 ; cash, ?147 — total, $496,- 123. The N. Y. C. & H. R. RR. Co. owns one-half of the paid up capital stock, the other half being owned by the Pennsylvania RR. Co. CORPORATE OFFICERS. — M. E. Olmsted, Pres., Harrisburg, Pa. ; E. V. W. Rossiter, Vlce- Pres. fc Sec. ; W. S. Crane, Treas., New York, N. Y. Office, Philadelphia, Pa. TERMINAL, RY. OP BUFFALO Blasdell to Depew, N. Y., 11.02 m. ; 2d track, 11.02 m. ; total track (steel; 80 Ibs.), 22.38 miles. HISTORY. — Chartered June ]2, 1895; road opened Sept. 15, 1898. Owned jointly by the New York Central and Hudson River RR. Co. and the Lake Shore and Michigan Southern Ry. Co. Built for the purpose of facilitating the exchange of business between the companies named. Operated under contract by the New York Cen- tral an3 Hudson River RR. Co., the result of operation being included in the income account of that company. INCOME ACCOUNT, year ending June 30, 1902. — Gross receipts (trackage, $G8,7(j5 ; interest, $440), $69,235. Operating expenses and taxes. $28,342. Net income, $10,893. Interest on bonds, $40,000. Surplus, $893. BALANCE SHEET, Juno 30, 1902. — Capital stock ($100 shares), $1,000,000; funded debt (1st gold 4s of April 1, 1946), $1,000,000; current lia- bilities, $12,266 ; profit and loss, $21,967— total, $2,034,233. Contra : Cost of road, $2,000,000 ; cash and other assets, $34,233 — total, $2,034,233. CORPORATE OFFICERS. — Wm. H. Newman, Pres. ; Wm. C. Brown, Vice-Pres. ; E. V. W. Rossiter, Sec. & Treas., New York, N. Y. Office, Buffalo, N. Y. 2O. RAILROAD LEASED BY THE N. Y. C. & H. R. RR. Co., BUT OPERATED BY THE LAKE SHORE AND MICHIGAN SOUTHERN RY. Co., AS AGENT FOR THE LESSEE. DUNKIRK. ALLEGHENY VALLEY AND PITTSBURG RR Dunkirk, N. Y., to Titus- ville, Pa., 90.6 m. ; total track ( steel ; 56, 60 and 70 Ibs.), 106.4 miles. HISTORY. — Consolidation (Dec. 31, 1872), of the Dunkirk, Warren and Pittsburgh, RR. Co., and the Warren and Venango RR. Co. Road opened Aug. 20, 1871. Leased to the N. Y. C. & H. R. RR. Co., for 501 years from Dec. 1, 1872, at a yearly rental equivalent to the interest on not exceeding $3,200,000 bonds and 1J p. c. on 13,000 shares of stock. Since Oct. 1, 1901, the road has been operated by the L. S. & M. S. Ry. Co. as agent for the lessee. ROLLING STOCK.— Locomotives (10 leased), 11. Cars — passenger (6 leased), 13; baggage, mail, and express (1 leased), 4; freight (box, 1; flat, 5), 6; service, 8 — total, 31. OPERATIONS, year ending June 30, lf)02. — Trains run (passenger, 143,515; freight, 110,061; other, 4,780), 258,356 miles. Passengers carried, 226,339 ; carried one mile, 4,968,405 ; average mile rate, 2.09 cents. Tons freight moved. 263,992: ton-miles, 10,250,166 ; average ton-mile rate, 1.75 cents. Earnings ( passenger, $104,234 ; freight, $176,856; other, $13,909), $294,999. Operating ex- penses, $199,152. Net earnings (32.66 p. c.), $95,- 847; other receipts, $740 — total, $96,587. Paid taxes, $16,727. Surplus, $79,860. LESSEE'S BALANCE SHEET, June 30, 1902. — Liabilities: Current accounts, $90,380; profit and loss, $47,049 — total, $137,429. Assets : Current accounts, $67,418 ; materials and fuel, $39,176 ; cash, $30,835 — total, $137,429. LESSOR'S BALANCE SHEET, June 30. 1902. — Capital stock ($100 shares), $1,300,000; funded debt, $2,900,000; certificates of E. D. Worcester, trustee, $54,750 — total, $4,254,750, representing cost of road and equipment, exclusive of advances by lessee. Funded debt consisted of $2,000,000 1st 7s matured June 1, 1900 : $700,000 2d 7s matured Oct. 1, 1900 ; and $200,000 3d 7s matured Oct. 1, 1900. DIRECTORS. — Chauncey M. Depew, Wm. K. Vanderbilt, F. W. Vanderbilt. W. H. Newman, E. D. Worcester, H. McK. Twombly, Samuel E. Williamson, Samuel F. Barger, W. C. Brown, New York, N. Y. ; E. V. W. Rossiter, Flushing, N. Y. ; Dwight W. Pardee, Brooklyn, N. Y. ; M. E. Olmsted, Harrisburg, Pa. ; G. C. Greene, Cleveland, O. W. H. Newman, Pres. ; E. V. W. Rossiter, Vice-Pres. ; Dwight W. Pardee, Sec. ; New York, N. Y. Corporate Office, Dunkirk, N. Y. 21. Board of Directors, N. Y. C. d H. R. RR. Co., as constituted April 15, 1903. CHAUNCEY M. DEPEW, Chairman of the Board New York, N. Y. W.K. Vanderbilt. New York.N.Y. F. W. Vanderbilt C. M. Depew Sam'l F. Barger. . J. P. Morgan... New York, N. Y. William Bliss Boston, Mass. E.V.S. Rossiter. New York, N. Y. Geo. S. Bowdoin " Wm. Rockefeller " (J " H.McK.Twombly AV. H. Newman. Charles C. Clarke Darius O. Mills New York, N. Y. W. H. NEWMAN, President New York, N. Y. Edward V. W. Rossiter, 1st V ice-President " " Edgar Van Etten, 2d Vice-President Boston, Mass. W. C. Brown, 3d V ice-President New York, N. Y. John Carstensen, 4th V ice-President #.<*. rr^"* T — '4,,- TTT T Y*7M ,T,T T7- n -T * W. J. Wilgus, 5th Vice-President " Secretary — Edwin D. Worcester . New York, N. Y. | Treasurer — Edward L. Rossiter. New York. N. Y. Auditor — Marshall L. Bacon New York, N. Y. GENERAL OFFICE '. Albany, N. Y. Operating Office .Grand Central Station, New York, N. Y. London Fiscal Agents. . J. S. Morgan & Co., 22 Old Broad St., London, E. C., Eng. 126 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROIT. NEW YORK CENTRAL SYSTEM— Lines operated by the N. Y. C. & H. R. RR. Co. an agent for the owners. AMSTERDAM, CHTTCTANUNDA AND NORTHERN BE.— East Amsterdam to Linaml Oil Works, Amsterdam, N. Y., 1.5 miles. Chartered Sept. 23, 1879. This rail- road i> owm-d I'v Mt— rs. Krll<>^' & Miller, proprietors of the Amsterdam Linseed Oil Works, and is operated (but not Ir.t-ni i as a switch branch of the New York Central and Hudson River RR. for hauling freight to and from the works. Rolling stock is supplied by the N. Y. C. 4 H. R. RR. Co. Capital stock ($100 shares), representing cost of road, $20,000. Directors. — John Kellogg, George Kellogg, Lauren Kellogg, J. Arthur Brannock, Myron W. Reid, John Kellogg 2d, John H. Lindsay, F. S. Van Derveer, A. R. Conover, Amsterdam, N. Y. OFFICERS: JOHN KELLOGG, Pres.; Lauren Kellogg, Treas.; J. Arthur Brannock, Sec., Amsterdam, N. Y. CORPORATE OFFICE, Amsterdam, N. Y. FULTON CHAIN RY.— Fulton Chain to Old Forge, N. Y., 2.21 m.; total track (steel; 60 Ibs.), 2.47 miles. History. — Reorganization, under charter, dated February 25, 1902, of the Fulton Chain RR., whose property was sold under foreclosure February 8, 1902 (see MANUAL for 1902, page 131). Operated by the New York Central and Hudson River RR. Co. as agent for the owners. Operations, year ending June 30, 1902. — Trains run (passenger, 3,472; freight, 577; other, 22), 4,071 miles. Passengers carried, 17,464; carried one mile, 36,595. Tons freight moved, 2,428; ton-miles, 5,366. Earnings (passenger, $4,046; freight, $1,351; other, $756). $6,153. Operating expenses (including taxes, $5), $4,022. Net earnings, $2,130. Additions (net earnings previous to June 30, 1901), $286. Surplus, June 30, 1902, $2,417. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $21,000; current liabilities, $1,904; profit and loss, $2,417 — total, $25,321. Contra: Cost of road, $16,144; cash and current assets, $9,177 — total, $25,321. Directors.— J. Pierpont Morgan, Chauncey M. Depew, W. C. Whitney, H. P. Whitney, S. R. Callaway, Robert Bacon, I. E. Gates, C. H. Tweed, W. P. Hamilton, W. W. Durant, A. G. Vanderbilt, New York, N. Y. ; E. M. Burns, Middleville, N. Y. ; W. Seward Webb, Shelburne, Vt. OFFICERS: W. SEWARD WEBB, Pres.; Clarence Morgan, Treas., New York, N. Y. ; Charles E. Snyder, Sec., Herkimer, N. Y. GENERAL OFFICE : Raquette Lake, N. Y. NEW YORK CENTRAL, HUDSON RIVER AND FORT ORANGE RR- Castleton to Fort Orange Mills, N. Y., 1 mile. Gauge, 4 ft. 8% in- Rail (steel), 60 Ibs. History.— Chartered September 1, 1884. Operated as a switch branch of the New York Central and Hudson River RR., and used for carrying freight to and from Fort Orange. The superstructure is owned by the N. Y. C. & H. R. RR. Co. Rolling Stock. — Company owns 1 locomotive ; other equipment supplied bv the N. Y. C. A H. R. RR. Co. Operations, year ending June 30, 1902. — Tons freight moved, 17,704. Earnings (freight), $4,426. Operating expenses, $1.514; taxes, $38 — total, $1,552. Surplus, $2,874; surplus forward, $1,752— total $4,626, carried to books of Fort Orange Paper Co. General Balance Sheet, June 30, 1902.— Capital stock ($10 shares), $10,000. Contra: Cost of road and equipment, $3,500; open accounts, $6,500 — total, $10,000. Directors.— C. C. Woolworth, James Lynch, H. H. Ingalls, Castleton, N. Y.; W. E. Redington, North Wilbraham, Mass. ; C. C. Woolworth, Jr., Atchison, Kan. ; J. S. Graham, D. King. Henry E. Jones, Brooklyn, N. Y.; J. H. Finch, Union Hill, N. Y.; John C. Whiteford, Detroit, Mich.; S. C. McKown, Rochester, N. Y.; Wm. H. Bunce, Jersey City, N. J. OFFICERS: C. C. WOOLWORTH, Prw.; J. S. Graham, Treas.; C. C. Woolworth, Jr., See., Atchison, Kan. GENERAL OFFICE, Castleton, N. Y. RAQUETTE LAKE RY.— Clear water June, to Raquette Lake, N Y,., 18 13 m • total track (steel; 67 Ibs.), 21.70 miles. Gauge, 4 ft. 8>/2 in. History. —Chartered February 7, 1899; road opened July 1, 1900. The company has a street charter, but the motive power is steam. Operated by the New York Central and Hudson River RR. Co. as agent for the owners. Rolling Stock, June 30, 1902.— Locomotives, 2. Cars— passenger, 2: freight, 4— total, 6. POOR'S MANUAL OF RAILROADS. 127 Operations, year ending June 30, 1902. — Trains run (passenger, 23,253; freight, 2,868; mixed, 10,204; other. 11,347), 47,672. Passengers carried, 16,698; carried one mile, 234,852. Tons freight moved, 21,785; ton-miles, 383,855. Earnings (passenger, $11,735; freight, $11,031; other, $4,425), $27,191. Operating expenses, $34,031; taxes, $3,048; interest on bonds, $2,083; other interest, $905; real estate expenses, $195 — total, $40,262. Deficit, $13,071; deficit forward ($9,276; less adjustments during year, $3,452), $5,824— total deficit June 30, 1902, $18,895. General Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $250,000; funded debt (1st 5s of Jan. 1, 1949), $250,000; accrued interest, $2,083; current liabilities, $29,818 — total, $531,901. Cost of road and equipment, $486,973; securities owned, $14,000; materials, etc., $271; cash and current assets, $11,762; profit and loss, $18,895— total, $531,901. Directors.— J. Pierpont Morgan, Chauncey M. Depew, William C. Whitney, Harry P. Whitney, Samuel R. Callaway, W. West Durant, Robert Bacon, W. P. Hamilton, A. G. Vanderbilt, Isaac E. Gates, Chas. H. Tweed, New York, N. Y. ; Wm. Seward Webb, Shel- burne, Vt. ; Edward M. Burns, Middleville, N. Y. OFFICERS: WM. SEWARD WEBB, Pres.; Clarence Morgan, Treas., New York, N. Y. ; Charles E. Snyder, Sec., Herkimer, N. Y. CORPORATE OFFICE, Raquette Lake (Durant Post Office), N. Y. ST. LAWRENCE AND ADIRONDACK RY.— Malone June., N. Y., to Valleyfield, Que., 30.17 m. ; Beauharnois to Adirondack June., Que., 12.9 m. — total, 43.07 m.; total track (steel; 72 and 80 Ibs.), 51.08 miles. The company leases 13.3 miles of the Grand Trunk Ry., from Valleyfield to Beauharnois, Que., and has trackage rights in 8.7 miles of the Canadian Pacific Ry., from Adirondack June, to Montreal, Que., making the total length of line operated, 65.07 miles. History. — Consolidation, November 18, 1895, of the St. Lawrence and Adirondack Ry. Co., Malone and St. Lawrence Ry. Co. and Southwestern Ry. Co. (See MANUAL for 1897, page 553.) Operated by the New York Central and Hudson River RR. Co., as agent for the owners. Rolling Stock. — The company holds under equipment trust 4 locomotives, 2 pas- senger cars, and 7 service cars. The necessary freight cars are furnished by connecting lines on a mileage basis. Operations, year ending June 30, 1902. — Train mileage — passenger, 141,574; freight, 21,924; mixed, 55,971; other, 19,462 — total, 238,931 miles. Passengers carried, 207,973; carried one mile, 6,357,729. Tons freight moved, 233,794; moved one mile, 10,791,021. Earnings (passenger, $107,138; freight, $126,640; mail and express, $6.696), total, $240,474. Operating expenses, $142,987. Net earnings, $97,487; other receipts, $427 — total, $97,914. Payments: Taxes, $4,405; interest on bonds, $78,600; rental*, $10,000; dividends (5 p. c.), $72,875 — total, $165,880. Deficit $67,936. Surplus forward, $98,774. Deductions during year, $27,948. Net surplus June 30, 1902, $2,860. General Balance Sheet, Jun<*30, 1902. — Capital stock ($100 shares), $1,615,000, funded debt, $1,300,419; interest due and accrued on funded debt, $6,000; current lia- bilities, $19,801; subsidy from Canadian Government, $84,480; profit and loss, $2,860— total, $3,028,560. Contra: Cost of road and equipment, $2,889,549; equipment under trust, $87,904; current assets, $33,740; cash, $17,367 — total, $3,028,560. Funded Debt.— The funded debt outstanding on June 30, 1902, consisted of $800,000 1st gold 5s of July 1, 1996; $400,000 2d gold 6s of Oct. 1, 1996, and $100,419 of equipment trust notes payable quarterly, the last one on Oct. 12, 1906. Directors (elected Sept. 3, 1902).— W. Seward Webb, Shelburne, Vt.; Chauncey M. Depew, Henry L. Sprague, S. R. Callaway, George E. Bird, Clarence Morgan, New York, N. Y. ; Edgar Van Etten, Boston, Mass. ; Martin E. McClary, Malone, N. Y. ; P. W. Clem- ents, Rutland, Vt. OFFICERS: WM. SEWARD WEBB, Pres.; Clarence Morgan, Sec. & Treas.: Henry L. Sprague, Gen. Counsel, New York, N. Y. CORPORATE OFFICE, Montreal, Que. Financial Office, 51 East 44th Street, New York, N. Y. Operating Office, Grand Central Station, New York, N. Y. PITTSBURGH AND LAKE ERIE RAILROAD COM? ANT. (Controlled by N. T. C. & H. R. RR. Co.; see Sec. 1.) 1. History. — Chartered May 8, 1875; opened in February and in April, 1879 (see MANUAL for 1891, page 436). The Lake Shore and Michigan Southern Ry. Co. owns a majority ($3,050,000) of the capital stock of this company. The road forms a part of the N. Y. C. & H. R. RR. System, but is operated as an independent organization. 128 I'.M.K'S MAM \l. t»K HAILHuADS - MI1M)LK ATLANTIC (JKOUP. -. Mileage Operated, De<-. 31, 1902.— A. LINES OWNED (total, 72.54 miles). JTotM /.I'M Pittsburgh, 1'a., to Youngstown, O ....................... 68.00 milea. ili- . I unction to New Castle, Pa ............ /,. Lowrllvilli-, (>.. to Bentley, O ......... • .......... 0.3S Hmm-h: 1 hi-rlton, < >., t<> Lake Shore Junction .............. B. IJIASED LINES (total, 113.02 miles). Mahoning Kt••»• stat.-iiu-nt in Sec. 9) ..... 100.79 \,,rth, in A' A'.: Hnmd Kor.l to Suiiiinit. 1'a ............... 1.92 und Kll\cood Kit.: Kllwood City to Klhvood Junction, 1'a ......... 2.91 HUH It It.: Kllwood Junction to Coal Mine, Pa 3.56 EUtrood Connectiny HK.: Junction P. & L. E. RR. to Junction B. A E. RR. 0.68 Total length of lines owned, leased, and operated, Dec. 31, 1902 185.56 miles. :M track (own.-d. 70.:>!> in.; leased, 50.58 m.), 120.87 m.; 3d track (owned), 13.61 m.; 4th track (owned), 13.64 m.; sidings (owned. 183.67 m.; leased, 157.65 m.), 341.32 miles, (iauge, 4 ft. 8K> »«• K"il (steel), 71, 80, and 90 Ibs. J*. Rolling Stock, Dec. 31, 1902. — Oimied: Locomotives, 121. Cars — passenger, 44; bmggagi- mail and express, 22; freight (box, 1,776; flat, 117; coal, 5,623; coke, 604), 8,120; service, 100— total, 8,286. Leased: Locomotives, 43. Cars— passenger, 16; bag- gage, mail and express, 5 ; freight (flat, 18; coal, 1,292; coke, 1,037), 2,347; service, 25— total, 2,393. Additional equipment has been ordered for delivery in 1903, as follows: 1,000 steel cars, 50 locomotives and 10 passenger coaches. 4. General Income Account, year ending December 31, 1902. -Passenger $1,000,79280 Freight 8,980,647 26 Mail and Express 68,67622 Miscellaneous 28,263 71 Total ($54,313.32 per mile) $10,078,37999 Expenses— Maint. of Way and Struct. . $2,859.315 60 Maintenance of Equipment 1,591,845 44 Conducting Transportation 3,242,934 J5 General Expenses 168,13931 Total ($42,370.31 per mile) $7,862,235 33 Net earnings (21.99 p. c.), $2,216,144.66; other receipts, $20,326.90 — total, $2,236,471.56. Payments: Interest on funded debt, $220,000; other interest, $7,408.28; taxes, $143,429.74; rentals (P., McK. & Y. RR., $462,579; B. & E. RR., $13,218.94; M. S. L. RR., $263.99; Thompson Run RR., $2,488.12), $478,550.05; dividends Nos. 37 and 38 (5 p. c. each), $500,000; paid L. S. & M. S. Ry. Co. one-half of profit of operating P., McK. & Y. RR., $1,186.58; old accounts charged off, $13,727.63 — total $1,364,302.28. Surplus, $872,169.28; surplus forward, $4,384,514.20— total, $5,256..683.48. The company paid its first dividend, 3 p. c., in 1884, and its thirty-eighth, 5 p. c., in Feb., 1903, the aggregate being 156 per cent. See GENERAL INDEX for table of DIVIDENDS PAID nv RAILROAD COMPANIES, 1896-1903. 5. General Balance Sheet, December 31, 1902. Cost of Road $8.668,753 57 Cost of Equipment 6,340,429 7G • Stock* And Bonds Owned 483,364 65 Materials and Supplies 1,108.125 S3 Current Accounts 1,26808105 Bills Receivable 120,00000 on Hand 135,255 81 Total Assets $18.124,010 67 Capital Stock ($50 shares) $6,000,00000 Funded Debt Outstanding 4,000,000 00 Real Estate Mortgages 137,50000 Current Liabilities 1,384,70557 Bills Payable 700,000 00 Interest Accrued, not Payable 85,00000 Rentals Accrued 23,37933 Dividends Payable, Feb. 1, 1903 300,000 00 P., McK. & Y. Improvement Account.. 197,240 00 P., C. & Y. Sinking Fund Account. . . 39,502 29 Profit and Loss 5,256,683 48 Total Liabilities $18,124,010 67 •" Stocks and Bonds Owned " consists of: Mahoning State Line RR. advances, $103,584; Ma- »ln« State Line RR. stock, $5,963.60; Ellwood Connecting RR. capital stock, $48.000; Pitts- jurKh, Chartlers and Youghiogheny RR. capital stock, $139,849.55; Monongahela RR. stock, $185,- 000 ; miscellaneous, $967.50— total, $483,364.65. «. fnnHnl stock — At the annual meeting on Jan. 28, 1902, the authorized capital stock wa« Increased from $4,000,000 to $8,000,000. Of the $4,000,000 increase, $2,000,000 was issued In Aug., 1902. and $2.000,000 on Feb. 1, 1903. T. r uncled Debt — The funded debt consisted, Dec. 31, 1902, of $2,000.000 1st gold 6s of •28. and $2,000,000 2d (series " A " and " B ") gold 5s of Jan. 1, 1928. (For additional particulars, »ee Ready Reference Bond List.) Railroad Map of Delaware, Maryland, Virginia and West Virginia. American Bank Note Company 78 TO 86 TRINITY PLACE NEW YORK LCABLE ADDRESS, "BANKNOTE NEWYORK"] BUSINESS FOUNDED 1798 •:•/ / -, t. •'.:• AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL ASS'T SEC'Y. And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE COPYRIGHT, 1903, BY POOR'S RAILROAD MANUAL CO. Poor's Manual— Railroad Map of the United States, 1903. Longitude Went fr WARE, MARYLAND, VIRGINIA AND WEST VIRGINIA. Railroad Map of Delaware, Maryland, Virginia and West Virginia. WORKS BY HENRY V. POOR. Money and Its Laws: EMBRACING A HISTORY OF MONETARY THEORIES AND A HI STORY OF THE CURRENCIES OF THE UNITED STATES. IB IT IHHEHsTIR/'X' -V. IPOOIR,. One Vol., royal octavo, cloth, pp. xl., 623. Price, $5.OO. Sent, free of postage, upon receipt of price, by the publishers, and for sale by all booksellers. RESUMPTION AND THE A HAND-BOOK FOR THE TIMES. EMBRACING A SKETCH OF THE COINAGE AND OF THE LEGAL-TENDER CURRENCIES OF THE UNITED STATES AND OTHER NATIONS. By HENRY V. POOR. (1878.) One Volume, 1 21110, Cloth, pp. 350. Price, Sr.oo. Sent free of postage, on receipt of price, by the publishers, and for sale by all booksellers. Poors Railroad manual Co., 68 William St., lew Tut POOR'S MANUAL PITTSBURGH AND LAKE ERIE RR. CO. 129 8. Statement of operations and general balances for seven jears ending Dec. 31: 1896 1897 1898 1899 1900 1901 1902 Miles Road Operated Passenger Train Mileage Freight Train Mileage 177.19 743,320 1 377 449 177.19 766,594 1 349406 179.82 735,443 1 304 536 180.09 715,506 1 374 637 180.09 712,642 1 337 403 184.33 727,302 1 421 521 185.56 745,082 1 714 396 Total Ue venue 1 rain Mileage. Passengers Carried. . .... 2,120,769 1 529 753 2,116,000 1 497 935 2,039,979 1530008 2,090,143 1 719051 2,050,045 1899803 2,148,823 2 008 833 2,459,478 2 235 701 Passenger Mileage 27 606 518 °7 777 330 31 759 967 34 447 292 37 7jOO 899 43 365 214 49 622 256 Freight (tons) Moved 9,110,726 10,015,971 11,778,748 13,956,740 15,554,600 17,637,295 21,131,703 Freight (ton) Miles 610,110,528 651 904348 756 232 163 884 708 254 1 004 808 766 1 077 814 751 1 386 390 602 Gross Earnings $ 4 501,421 $ 4 666 686 $ 5 071 376 $ 5 875 271 1 7 122 814 S 8 022 986 S 10 078 380 3 027 080 3 129240 3590321 4 182 251 5 445 513 6 257 996 7 862 236 1 474 341 1 537 446 1 481 055 1 693 020 1 677 301 1 764990 2 216 144 t ixed Charges and Taxes . . 780,367 795,351 788,562 799,950 808,073 826,210 841,430 Surplus 693 974 742095 692 493 893 070 869 228 938780 1 374 714 Dividends, 10 p. c 400000 400000 400000 400000 400000 400000 500000 25 404 49 2f, 337 19 28 202 51 32 624 08 39 551 42 43 525 12 54 313 32 17 082 12 17660 37 19 966 20 23 223 12 30 237 73 33 949 96 42 370 31 8 322 37 8 676 82 8 ?36 31 940096 9 313 69 9 575 16 11 94301 Expenses to Earnings Aver.Rate p. Pass. p. Mile . . . Aver. Kate p. Ton p. Mile. . . . Capital Stock 67.25 p.c. 2.02 c. 0.63 c. S 4000000 67.05 p.c. 1.96 c. 0.62 c. $ 4000000 70.79 p.c. 1.97 c. 0.58 c. $ 4000000 71. 18 p.c. 2.05 c. 0.57 c. $ 4000000 76.45 p.c. 2.05 c. 0.63 c. 1 4000000 78.00 p.c. 2.03 c. 0.66 c. S 4000000 78.01 p.c. 2.02 c. 0.65c. $ 6000000 Funded Debt 4000000 4000000 4000000 4000000 4000000 4000000 4000000 Real Estate Mortgages . . 331 087 220500 185000 162500 187500 162500 137500 *Current Liabilities 538 899 874977 858982 878790 1 466 665 1 224 226 2 729 828 Profit and Loss 2 222 355 2550500 2 855 347 3 353 SOI 3 834,726 4 834,514 5,256,683 11092341 11 645977 11 899 329 12395091 13 488 891 14 221 240 18 124011 Cost of Road and Equip Real Estate etc 7,671,133 2082472 7,855,777 2 032 972 8,372,001 1 997 472 8,792,001 1 974 972 10,971,761 407500 11,504,761 412500 15,009,183 328508 322 973 329255 325228 352054 436001 483 365 Current Assets 321 213 531 987 564*764 689 498 744087 1 118 861 1 388 081 Materials, etc 213358 232 949 254598 403057 384,205 427750 1 108 126 Cash 475,657 669 319 381 230 210 335 629,284 321,367 135,256 Total Assets 11,092,341 11,645,977 11,899,329 12,395,091 13,488,391 14,221,240 18,124,011 "•Including accrued Interest and unpaid dividends. 9. RAILROADS LEASED OR OPERATED BY THE PITTSBURGH AND LAKE ERIE RR. Co. BEAVER AND ELLWOOD RR Ellwood June, to Hazen Coal Mine, Pa., 5.41 m. ; total track (steel ; 60 IDS.), 7.51 miles. HISTORY. — Organized May 20, 1890 ; road built In 1890. Consolidated with the Ellwood Southern RR. Co., July 1, 1899. Leased (or 20 years frora May 1, 1S99, to the P. & L. E. RR. Co., the rental being 40 p. c. of gross earnings ; rental based upon earnings. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $150,000; funded debt (1st 4s of July 1, 1919), $150,000; unfunded debt, $10,850; profit and loss, $13,130 — total, $323,980. Contra: Cost of road, etc., $302,495 ; stocks owned, $2,000 ; ether assets, $19,485 — total, $323,980. CORPORATE OFFICERS. — H. W. Hartman, Pres. ; Samuel A. Roelofs, Sec. & Treas., Ellwood City, Pa. Office, Ellwood City, Pa. ELLWOOD CONNECTING RH June. P. & L. E. RR., to June. B. & E. RR., 0.68 mile. Rail (steel), 70 Ibs. HISTORY. — Chartered April 4, 1892; road opened Tune 30, 1893. Operated by the Pittsburgh and Lake Erie RR. Co. (which owns itt; entire capital stock), but operations reported sepa- rately. INCOME ACCOUNT. — Earnings, 1902, $6,413. Expenses and taxes, $292. Surplus, $6,121. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $50,000; profit and loss, $33 — total, $50,033. Contra : Cost of road, "etc., $50,000 ; other assets, $33— total, $50,033. CORPORATE OFFICERS. — James M. Schoon- maker, Pres. ; J. G. Robinson, Sec. & Treas. ; C. H. Bronson, Aud. Office, Pittsburgh, Pa. MAHONING STATE LIKE RR Bentley to Shaw June., Pa., 3.16 m. ; total track ( steel ; 65 Ibs.), 7.89 miles. HISTORY. — Chartered Aug. 10, 1891; road opened Jan. 1, 1895. Leased Jan. 1, 1895, for 99 years to the Pittsburgh and Lake Erie RR. Co. (which owns the entire capital stock) ; rental, state and county tax. BALANCE SHEET, Dec. 31, 1902. — Capital stock ($50 shares), $100,000; unfunded debt, $11,- 708 — total, $111,708. Contra: Cost of road, etc., $97,868- other assets, $13,840 — total, $111,708. CORPORATE OFFICERS. — John G. Robinson, Pres. & Treas. ; H. J. McElheny, Sec. ; C. H. Bronson, Aud. Office, Pittsburgh, Pa. PITTSBURGH. McKEESPORT AND YOL'GHIOGHENY RR Pittsburgh to New Haven, Pa., 56.95 m. ; Reynoldton to Belle Vernon, Pa., 27.53 m. ; Dickerson Run and other Branches, 8.40 m. ; Elwell Run Branch, 5.01 m. ; Speers Run Branch, 1.99 m. ; Downers Run Branch, 0.91 m. — total, 100.79 m. ; 2d track, 50.58 m. ; sidings, 148.81 miles. Rail (steel), 71, 80 and 90 Ibs. HISTORY. — Chartered Jan. 1, 1881 ; opened Nov. 19, 1883. (See Manual for 1892.) Leased Jan. 1, 1884, for 999 years from Aug. 3, 1881, by the Pittsburgh and Lake Erie RR. Co., that company and the Lake Shore and Michigan Southern Ry. Co. guaranteeing interest on 1st and 2d mtge. 130 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. bonds (but not on McK. & B. V. bonds), and 6 p. c. dividends on stock. It is provided that the stock shall be redeemed by the guarantors on July 1. 1934. The company owns 43 locomotives and 2.393 cars. BALANCE SHEET, Dec. 31. 1902.— Capital stock. $3.969,660; funded debt. $3,760.000 — total. representing cost of road, etc., $7,709,860. FUNDED DEBT, Dec. 31, 1902. consisted of (1) J2.2SO.OOO 1st guar. 6s of July 1. 1932; (2) $900.000 2d guar 6s of July 1. 1934; and (3) $600.000 McK. & B. V. 1st 6s of Jan. 1. 1918. CORPORATE OFFICERS. — James M. Schoon- maker, Pres.. Pittsburgh, Pa. ; H. McK. Twombly, Vice-Pros., New York, N. Y. ; John O. Robinson, Sec. & Treas., Pittsburgh. Pa Office, New Terminal Station, Pittsburgh, Pa. YOLGH1OGIIENY NORTHER* RY. — BVtiad Ford to Summit, Pa.. 1.92 m. ; 2d tracK, 1.79 m. ; total track (steel; 60 IDS.), 8.4S miles. HISTORY. — Chartered Aug. 16, 1881 ; road opened in 1883. Leased to P., McK. & Y. RR. Co., for 50 years from April 1, 1883, at a rental of $1 per loaded freight car transported over the road. BALANCE SHEET, June 30, 1902. — Capital stock, $400,000 ; current liabilities, $9 ; profit and loss. $10.822 — total. $410,831. Contra : Cost of road, $400,000; cash and other assets, $10,831 — total, $410,831. CORPORATE OFFICERS. — Thomas Lynch, Pres. ; Philip Keller, Treas. ; M. M. Bosworth, Sec. Office, Pittsburgh, Pa. 1O. Board of Directors, P. d L. E. RR. Co., elected January 27, 1903. W.K.Vanderbilt.New York.N.Y. H. McK. Twombly ' F. \V. Vanderbllt.. " J. Q. Robinson.. Pittsburgh, Pa. A.E.W.Painter.. Pittsburgh, Pa. M. W. Watson.. John B. Jackson Geo. E. Shaw... E.D.Worcester. New York, N. Y. J. M. Schoonmaker.Plttsburgb.Pa. Henry Hice Beaver, Pa. j D. L. Wilson Pittsburgh, Pa. WILLIAM H. NEWMAN, President New York, N. Y. James M. Schoonmaker, Vice-Pres. d Gen. Mgr Pittsburgh, Pa. Sec. d Treas. — John O. Robinson.. Pittsburgh, Pa. | Auditor — C. H. Bronson Pittsburgh, Pa. PRINCIPAL OFFICE AND ADDRESS New Terminal Station, Pittsburgh, Pa. NEW YORK, ONTARIO AND WESTERN RAILWAY COMPANY. 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total 318.77 miles). Main Line: Oswego to Cornwall, N. Y 27 1 . 75 miles. New Berlin Branch: New Berlin Junction to New Berlin, N. Y Delhi Branch: Walton to Delhi, N. Y 16.84 Ellenville Branch : Summitville to Ellenville, N. Y. 7 . 80 B. LEASED LINES (total, 108.62 miles). Ctica, Clinton and Binghamton RR.: Utica to Randallsville, N. Y 31 .30 " Rome and Clinton RR.: Rome to Clinton, N. Y 12.78 Wharton Valley Ry. : Junction New Berlin Branch to Edmeston, N. Y 6 . 80 Ontario, Carbondale and Scranton Ry.: Cadosia to Scranton, Pa 54.05 Pecksport Connecting Ry. : Pecksport to Morrisville, N. Y 3 . 69 O. TRACKAGE : West Shore RR. : Cornwall, N. Y., to Weehawken, N. J 53 . 07 Total length of lines owned and leased, June 30, 1902 480.46 miles. Sidings (owned, 133.65 m.; leased, 68.67 m.), 202.32 miles. Gauge, 4 ft. Sy2 in. Rail (steel), 50 to 95 Ibs. 2. History.— Organized January 21,1880, as successor to the New York and Oswego Midland RR. Co. (see MANUAL for 1888, page 225). The terms under which the leased lines are operated are outlined in the separate statements for those roads, subjoined hereto. For the use of the West Shore RR. tracks from Cornwall to Weehawken the company pays its proportionate share of the cost of maintenance, based on tlain mileage, and a like proportion of the interest at 4 p. c. on $2,000,000 plus the amount expended for necessary improvements since January 1, 1886. Provision is made for cars of either company to be hauled by the trains of the other, in order to reduce expenses. The trackage agreement will expire by limitation on May 12, 2079, but may be terminated by this company after May 12, 1980. (See MANUAL for 1895, page 50.) The Ellenville and Kingston RR. Co. was organized in March, 1900, to build an extension of the Ellenville Branch of this rotid from Ellenville to Kingston, N. Y., a distance of 27.14 miles. Construction was begun in July, 1901, and the road was opened throughout on Dec. 15, 1902. The Port Jervis, Monticello and ffew York RR., the control of which was acquired in 1900, was sold under foreclosure on December 3, 1902, and was bid in for this com- pany. On December 6, 1902, the Port Jervis, Monticello and Summitville RR. Co., all of POOR S MANUAL — NEW YORK, ONTARIO AND WESTERN RY. CO. 131 whose stock and bonds are owned by the New York, Ontario and Western Ry. Co., was organized to take title to the property. The road extends from Port Jervis to Monti- cello, N. Y., 23.75 miles, and from Huguenot to Summitville, N. Y., 17.3 miles. In con- nection with the Ellenville Branch and the Ellenville and Kingston RR., it forms a through line between Port Jervis and Kingston. It has been operated by the New York, Ontario and Western Ry. Co. since December 22, 1902. It is proposed to consolidate the Ellenville and Kingston RR. Co. with the Port Jervis, Monticello and Summitville RR. Co., and the entire amount of stock and bonds to be issued by the consolidated company will be owned by the New York, Ontario and Western Ry. Co. 3. Coal Traffic. — The output of anthracite coal mines tributary to this company is estimated at from 2,500,000 to 3,000,000 tons annually. The transportation of practically all this tonnage is secured to this railroad by contracts made with the Scranton Coal Co. and the Elk Hill Coal and Iron Co. The terms of these contracts are outlined in the MANUAL for 1901, on page 138. The following statement shows the tonnage of anthracite coal hauled by the com- pany, and the revenue derived from such traffic, in each fiscal year since the opening of the Scranton Division on July 1, 1890: 1891.. 1892.. Net Tons. Revenue. $ . 811,485 782,218 .1,120,416 1,127,456 1893.... 1,352,225 1,436,539 1894. . 1895. , Net Tons. Revenue. I .1,642,063 1,753,874 .1,715,991 1,581.227 1896. .... 1,673,861 1,588,424 Net Tons. Revenue. S 1897 1.653,596 1,722,936 1898 1,605,508 1,666,242 1899 1,991,987 1,923,502 Net Tons. Revenue. $ 1900 2,157,553 2,223,463 1901 2,361,026 2,546,918 4. Rolling Stock, June 30, 1902. — Locomotives, 144. Cars — passenger, 119; bag- gage, mail and express, 28 ; freight (box, 605; flat, 642; stock, 64; coal, 5,512; milk, 67; caboose, 64), 6,954; service cars, 98 — total, 7,199. Seven of the locomotives; eight passen- ger cars and 625 coal cars are covered by equipment trusts. 5. General Income Account, year ending June 30, 1902. Earnings —Passenger $892,427 05 Freight 4,358,186 17 Mail and Express 127,542 88 Miscellaneous 78,53993 Expenses -Maint. of Way and Struct. . $894,384 19 Maintenance of Equipment. 746,946 07 Conducting Transportation . 2,228,484 78 General Expenses 146,480 89 Total ($11,357.23 per mile) $5,456.69603 Total ($8,359.27 per mile) $4,016,29593 Net earnings (26.4 p. c.), $1,440,400.10; other receipts, $511,975 — total, $1,952,375.10. Payments: Interest on funded debt, $677,480; taxes, $141,458.27; lease rentals, $197,- 446.37; interest and discount, $277,031.59— total, $1,293,416.23. Surplus, $658,958.87; surplus forward, $5,069,399.92 ; repayment on account of advances to 0., C. & S. Ry. Co., etc., $37,000— total, $5,765,358.79. Deduct sundry charges, $2,121.58. Balance, surplus June 30, 1902, $5,763,237.21. 6. General Balance Sheet, June 30, 1902. Franchises and Property $71,625,222 58 Trust Equipment 456,00000 Preferred Stock Redemption Fund 4,000 00 Investments in Other Companies 12.833.618 08 Materials and Supplies 381,78936 Loans and Bill? Receivable 120,699 64 Current Accounts 1,552,41288 Cash on Hand 530,11001 Total Assets $87,503.852 55 Common Stock Paid in ($100 shares) .$58,113,982 84 Preferred Stock Paid in ($100 shares) 4,000 00 Funded Debt Outstanding 16,937,00000 Loans and Bills Payable 5,525,00000 Equipment Trust Notes 456,000 00 Current Liabilities 704.63250 Profit and Loss 5,763.237 21 Total Liabilities $87.503,852 55 7. Preferred Stock and Voting Trust. — The total issue of preferred stock amounted to $2,000,000, but $1,996,000 of It was exchanged for 1st mtge. bonds. The exchanged preferred stock is held alive in a voting trust, and elects eight of the thirteen directors, this right to continue until a dividend shall have been earned and paid on the common stock. 8. Funded Debt. — The funded debt consists of ($20,000,000 auth.) refunding 1st gold 4s of June 1, 1992. The unissued bonds are reserved for future requirements. Coupons for the period ending Sept. 1, 1942, are attached to the bonds, and subsequent coupons will be attached on and after that date. The bonds are a first lien on the entire property of the company, and are addition- ally secured by deposit of all the 1st mtge. bonds, and $1,495,000 out of a total of $1,500,000 capital Btock, of the Ontario. Carbondale and Scranton Ry. Co. 132 POOB'8 MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. 9. Loan* and Bills Payable. — The amount outstanding on June 30, 1902, consisted of $2 250.0OO 5 p. c. 12-yr. $1.000 gold notes, and $3,275,000 5 p. c. sinking fund 1st lien 15-yr. $1.0OO gold notes. The 12-yr. notes were issued in 1899 to the amount of $2,500,000 to enable the Scranton Coal Co. to purchase the anthracite coal property of the Lackawanna Iron and Steel Co. They are secured by first mortgage of the Scranton Coal Co., and mature $100,000 each half year to Feb 1 1904. $125.000 each half year from Aug. 1. 1904, to Feb. 1. 1909, and $150.000 each half year from Aug 1 19O9, to Feb. 1. 1911. To enable the Scrantou Coal Co. to complete the purchase this company made a loan of $1.475.000 ($305.000 thereof repaid to June 30, 1902), which is se- cured by second mortgage on the Scranton Coal property. The 15-yr. notes are secured by deposit of first bond and mortgage covering the entire property of the Elk Hill Coal and Iron Co. They mature $75,000 e-.ery half year to Dec. 1. 1910, and $200,000 every half year from June 1, 1911, to Dec 1, 1915. Interest Is payable on the 1st of June and Dec. ; principal and interest payable in gold free of all taxes. The notes are in coupon form, but may be registered as to principal alone or as to both principal and Interest. It is provided that if the New York. Ontario and Western Ry. Co shall make any new mortgage upon its property these notes shall be equally and ratably se- cured parl passu with the obligations to be issued under and secured by such mortgage. Trustee : Morton Trust Co., New York, N. Y. 10. Statement of operations, capital account, etc., for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Mile Rood Worked 476.77 849,479 1,361,917 630,521 480.46 826,479 1,267.103 662,659 480.46 842.960 1,116,404 668.642 480.46 857.771 1,315,192 690,197 480.46 803,000 1,395,618 738,177 480.46 885.607 1,450.958 744.239 480.46 900,705 1,562,409 753.172 Freight Train Miles. Mixed Train Miles 2,841,917 849,583 31,366,468 2.524,622 356,414,070 $ 654.067 2,960,595 164,674 2,756.301 808,811 30,827.936 2,492,056 353,100,732 $ 638,659 3,075,505 180,239 2.628,006 872,032 32,007,644 2,479,292 354,127,528 $ 641,679 3,090,280 182,676 2,863,160 1.064,441 40,561,436 2,935,416 410,413,877 709,266 3.462,138 174,759 2,996,795 1,213.291 44,174,576 3.416,606 486,442,640 $ 787.899 3,970,114 205,470 3,080,804 1,312,572 46,r.sx,-i2s 3,.iOS..Vls 516,135,284 $ 855,201 4,269.307 198,375 3,216,286 1,386,039 49.715,289 3,612.487 541,789.449 $ 892.427 4,358.186 206,083 Freight (ton) Miles. Total Earnings 3,779,336 2,585,909 3,894,403 2,655,859 3,914,635 2,688,777 4,346,163 2,835,861 4,963,483 3,279,629 5,322,884 3,638,341 5,456,696 4,016,296 1,193.427 81,465 1.274.892 112.650 181.302 605.371 1,238,544 82,800 1,321,344 124,637 183,263 613,533 1.225.858 86,746 1,312,604 112.865 182,279 615.000 1,510,302 167,918 1,678,220 134.249 186,081 671,526 1,683,854 273,692 1,957,546 135.289 192,282 770,951 1,684.543 417,244 2,101,787 138,796 197,534 886.225 1,440,400 511.975 1,952,375 141,458 197,446 954.512 Other Receipt* Net Income. Taxes. Interest and Other Charge Total Payments. 899.323 375,569 7.926.96 5.423.81 2,503.15 68.42 p. c 2.08 c. 0.83 c. 318.77 426.33 133 98 25 6.362 $ •>s.ll«,«JK3 13.725.000 1.707.381 2.296.427 921,433 399.911 . 8,105.57 5,527.74 2.577.83 68.20 p. c. 2.07 c. 0.87 c. 318.77 427.75 133 98 25 6.362 58.118,983 13,975.000 1,216,289 2,681,087 910,144 402,460 8,147.68 5.596.25 2.551.43 68.08 p. c. 2.01 c. 0.87 c. 318.77 431.04 133 100 24 6.361 $ 58.118,983 13.975.000 943.702 2.611.173 991, 856 686,364 9.045.84 5.902.39 3,143.45 65.25 p. e. 1.75 c. 0.79 c. 318.77 436.19 133 103 24 6,317 58,118,983 17,037,000 1,521.196 3.264,3% 1,098,522 859.024 10,330.69 6,826.02 3.504.67 66.08 p. c. 1.78 c. 0.82 c. 318.77 440.3S 133 110 26 6.329 58.118.983 17,937,000 1,519,597 4,152,513 1,222.555 879.232 11.078.72 7,572.62 3,506.10 68.35 p. c. 1.83c. 0.83 c. 318.77 446.19 140 117 29 6,942 58,118,983 23,244,000 794,367 5,069,400 1,293,416 658.959 11,357.23 8,359.27 2,997.96 73.60 p. c. 1.795c. 0.804 c. 318.77 452.42 144 119 28 0,954 58,117.983 22,918.000 704.633 5,763,237 Gross Earnings per Mile Expenses to Earnings Miks of Railroad Owned .. Miles of Track Owned l':!s.-*-iy*'-r(!arji RaoOTe, «*• (Vi , , , Freight Ckrs.. Capital Stock... Fn»ded «ad Mortgage Debt Current Debta. Profit and IXHL Total Liabilities. . 75 848 791 75.991.359 69,886,996 3,357,003 219.210 2.528,150 75,648,918 70.108,773 3,472.800 230.111 1.837.234 80,841,575 70.872,017 7,411.567 164,915 2.393.076 81,728,093 71.007,762 7,174,567 451,563 3,094,201 87,226,750 71,769,669 13.101,617 456,169 1,899,295 87.503,853 72,081,223 12,837,618 3S1.789 2,203,223 It-'uWid -aid I'<|ui|>mrnt 69.626.397 3,435.936 303.03 2.483.427 Oilier InvevtmefitA . . MaleriafaandPnd. .. CMhaodOtfcerAMto. Total Awets. 75 848,791 75.991,359 75.648.918 80,841,575 81,728,093 87.226.750 87,503,853 II. i:.|"i|-m< in i i-iiKt NoteM — Issued under date of March 1, 1901, and payable in ten half yearly Installments, with Interest at the rate of 4i p. c. per annum, payable March and Sept, POOR'S MANUAL — NEW YOKK, ONTARIO AND WESTERN RY. CO. 133 at the office of the trustee, Manhattan Trust Co., New York, N. Y. Principal and interest are pay- able in gold. Secured on 7 locomotives, 8 passenger cars, and 625 coal cars. 12. Investments in Other Companies. — These consist of the following: $1,500,000 capital stock and $1,500,000 mtge. bond of Ontario, Carbondale and Scranton Ry. Co. ; $2,250,000 1st mtge. bond and $1,170,000 2d mtge. bond of Scranton Coal Co.; $3,275,000 1st mtge. bond and $2,400,000 2d mtge. bond of Elk Hill Coal and Iron Co. ; $70,000 capital stock of Wharton Valley Ry. Co. ; $40,000 capital stock of Pecksport Connecting Ry. Co. ; and sundry shares and bonds of the total amount of $628,618.08. 13. RAILROADS LEASED BY NEW YORK, ONTARIO & WESTERN RAILWAY COMPANT. ONTARIO, CARIJONDALE AND SCRAN- TON RY Cadosia, N. Y., to Scranton, Pa., 53.66 m., total track (steel; 67 IDS.), 96.48 miles. HISTORY. — Chartered Oct. 3, 1889; road opened July 1, 1890. Leased to the N. Y., O. & W. Ry. Co. for 99 years from July 1, 1890, the lessee to pay interest on bonds and a rental equal to 5 p. c. of the gross earnings. INCOME ACCOUNT. — Rental, year ending June 30, 1902, $118,696. Expenses and taxes, $2,- 872 ; interest on bonds, $75,000. Surplus, $40,824. BALANCE SHEET, June 30, 1902. — Capital stock, $1,500,000: funded debt (1st 5s of Dec. 1, 1939), $1,500,000; unfunded debt, $494,139; income balance, $327,981 — total, $3,822,120. Contra : Cost of property, $3,809,078 ; other assets, $13,042 — total, $3,822,120. CORPORATE OFFICERS. — T. P. Fowler, Pres. ; R. D. Rickard, Sec. & Treas., New York, N. Y. Offices, Scranton, Pa., and 56 Beaver St., New York, N. Y. PECKSPORT CONNECTING RY Near Pecksport to near Morrisville, N. Y., 3.69 m. ; total track (steel; 76 Ibs.), 4.22 miles. HISTORY. — Chartered April 29, 1896; road opened Sept. 13, 1896. Controlled and operated by the " Ontario " Co. FINANCIAL STATEMENT. — Capita! stock, $40,000. Cost of road to June 30, 1902, $80,060. The " Ontario " Co. owns the entire capital stock of this company, and will receive its mortgage bonds when issued. CORPORATE OFFICERS. — James E. Childs, Pres ; R. D. Rickard, Treas. ; A. L. Parmelee, Sec., New York, N. Y. Office, 56 Beaver St., New York, N. Y. ROME AND CLINTON RR Rome to Clin- ton, N. Y., 12.78 m. ; total track, 13.89 miles. Rail (steel, 12.78 m.), 50 to 67 Ibs. HISTORY. — Chartered June 3, 1869; road opened Jan. 15, 1872. Leased in perpetuity to the Delaware and Hudson Co. at an annual rental of $22,375 and taxes. Operated by the N. Y., O. & W. Ry. Co., under contract terminating 35 years from June 1, 1886. INCOME ACCOUNT. — Rental, year ending June 30, 1902, $22,375. Expenses and taxes, $786. Net income, $21,589. Paid dividends (6i p. c.), $21,581. Surplus, $8. Capital stock, $345,360; other liabilities, $59; profit and loss, $14,902 — total, $360,321. Contra: Cost of road, $360,000; other assets, $321 — total, $360,321. CORPORATE OFFICERS. — Clinton Scollard Pres., Clinton, N. Y. ; W. H. Fuller, Vice-Pres., Rome, N. Y. ; C. D. Hayes, Sec. & Treas., Clinton, N. Y. Office, Clinton, N. Y. UTICA, CLINTON AND BINGHAMTON RR — Utica to Randallsville, N. Y., 31.30 m. ; total track, 41.30 miles. Rail (steel, 31.28 m.), 62 Ibs. HISTORY. — Organized March 25, 1868; road opened June 22, 1872. Leased in perpetuity, Dec. 4, 1889, to the Delaware and Hudson Co., at a rental of $61,500 per annum, the lessee guaran- teeing principal and interest of bonds. On Juno 1, 1886, this road and the Rome and Clinton RR. were subleased to the " Ontario " Co., for 35 years, at a minimum rental of $75,000 yearly for both. The street railroad of this corporation is leased to the Utica Belt Line Street RR. Co., now controlled by Utica and Mohawk Valley RR. (See statement elsewhere.) INCOME ACCOUNT. — Rental, year ending June 30, 1902, $76,500. Interest on bonds, $40,000 ; dividends (5 p. c.), $34,341; sinking fund, etc.. $1,877— total, $76,218. Surplus, $282. BALANCE SHEET, June 30, 1902. — Capital stock $849,285 ; funded debt ( 1st 5s of July 1, 1939), $800,000; unfunded debt, $25,000; profit and loss, $55,049 — total, $1,729,334. Contra: Cost of road, $1,690,566 ; accounts receivable, $25,000 ; cash. $13,768 — total, $1,729,334. The bonds are secured by a mortgage on both street and steam roada. CORPORATE OFFICERS. — James I. Scollard, Pres., Clinton, N. Y. ; C. S. Symonds, Sec. & Treas., Utica, N. Y. Office, 157 Genesee St., Utica, N. Y. •WHARTON VALLEY RY June. Berlin Br. to Edmeston, N. T., 6.8 m. ; total track (steel ; 50 Ibs.), 7.44 miles. HISTORY.— Chartered June 12, 1888; road opened Feb. 1, 1889. Leased for 99 years from Oct. 1, 1888, to the N. Y., O. & W. Ry. Co., the lessee guaranteeing the bonds, principal and in- terest, and paying $500 yearly for organization expenses. (See Manual for 1893, page 475.) The lessee owns all of the capital stock. INCOME ACCOUNT. — Rental, year ending June 30, 1902, $3,750. Interest on bonds, $3,750. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $70,000; funded debt (1st 5s of Nov. 1, 1918), $75,000; unfunded debt, $625 — total, $145,625. Contra : Cost of property, $145,- 000 : other assets, $625 — total, $145,625. CORPORATE OFFICERS. — T. P. Fowler, Pres. ; R. D. Rickard, Sec. & Treas., New York, N. Y. Office, 56 Beaver St., New York, N. Y. 14. CONTROLLED RAILROADS OPERATED AS FROM JANUARY 1, 1903. ELLENVILLE & KINGSTON RR Ellen- villo, N. Y., to Kingston, N. Y., 27.14 m. ; total track (steel; 67 lb:;.), 21.58 miles. Chartered March 29, 1901 ; road opened Dec-ember 22, 1902. Controlled and operated by the " Ontario Com- pany." Capital ftocb, $300,000. Cost of road to April 30, 1903, $858,841. The Ontario Company owns the entire capital stock of this company, and will receive its mortgage bonds when issued. T. P. Fowler, Pres. ; J. E. Chilrts, Vice-Pres. & Oen. Mgr. ; R. D. Rickard, Sec.-Treas., New York, N. Y. Offices, 56 Beaver St., New York, N. Y. PORT JERVIS. MONTICELLO & SUM- MITVIL.LE RR. — Port Jervis, N. Y., to Monti- ceJlo, N. Y., 23.75 miles ; Huguenot Junction, N. Y, to Summitville, N. Y., 17.30 miles; total track (steel ; 56 and 67 Iba.), 44.60 miles. Char- terod December 6, 1902 ; road opened December 22, 1902. Controlled and operated by the " Ontario Company." Capital stock, $110,000. Funded debt, $327,000 The " Ontario Company " owns both issues. J. C. Anderson, Pres. ; A. L. Parmelee, Sec.-Treas., New York, N. Y. Offices, 56 Beaver St., New York, N. Y. 134 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROII1. 15. Board of Htr,rl<,rs, AT. Y., 0. C.4 1.91 4.50 32.05 Perkiornen RR 38.33 12.07 50.40 Philadelphia & Frankford RR 2.59 1.50 4.09 Philadelphia & Chester Valley RR 23.93 4.51 28.44 Philadelphia, Ncwtown 71 d fin 11Q 8^8 VI Total Receipts Reading Co. 4,881,443 58 28 344 169 72 5,312,129 10 29 515 534 56 Receipts of P & R. C. & I Co 28 917,858 20 26 519,529 59 Totals 12,859,376 30 13,832,817 46 2 663 087 05 2 378 826 20 Gross Receipts 62,143,471 50 61,347,193 25 P 1901-02. Fixed Charges and Taxes, as above $13,832,817 46 Less income of Reading Co., included In fixed charges of Ry. Co., as above 3,283,833 23 Net Fixed Charges and Taxes $10,548,984 23 1900-01. $12,859,376 30 3,367,621 30 $9,491,755 00 Railroad Equipment $19,792,119 42 Floating Equipment 2,107,66000 Real Estate Owned by the Company 16,962,576 21 Leased Equipment 5,308,25334 Mortgages and Ground Rents 262,41499 Stock and Bonds, P. & R. Ry. Co.... 40,000,000 00 Stock of P. & R. Coal & Iron Co.. 8,000,000 00 Stocks and Bonds, Sundry 70,347,139 03 Phila. & Reading Coal & Iron Co.. 79,002,72056 P. & R. Ry., Acct. Securities Retired 47,500 00 Due by Sundry Companies 858,70813 Cash and Current Assets 733,86415 Sheet, June 30, 1902. First Preferred Stock $28.000,00000 Second Preferred Stock 42,000,00000 Common Stock 70,000,00000 Funded Debt (see below) 98,976,19059 Contingent Account 1,046,30393 Current Business Debts 228,66918 Accrued Interest and Taxes 645,408 85 Philadelphia and Reading Ry. Co. . 18,837 57 Gen. Mtge. Bonds Purch. & Cancelled 1,267,000 00 Sinking Fund Gen. Mtge. Loan 62395 •Profit and Loss, Surplus 1,239,91171 Total Property and Assets $243,422,94583 Total Liabilities $243,422,94583 •Surplus, June 30, 1901, $1,467,901.31 ; surplus for year ending June 30, 1902, $1,335,945.69 — total, $2,803,847. Deduct : Sinking fund general mortgage loan, $443,935.29 ; dividends paid (Sept. 10, 1901, and March 8, 1902, $560,000 each), $1,120,000 — total, $1,563,935.29. Net surplus, $1,239,911.71. 7. Capital Stock. — All of the capital stock (except 2,000 shares of common stock) is de- posited with Messrs. J. Pierpont Morgan and Frederic P. Olcott, of New York, and C. S. W. Packard, of Philadelphia, as voting trustees, under an agreement which provides that it shall be held by them 138 POOR'S MANUAL OP RAILROADS— MIDDLE ATLANTIC GROUP. until the first preferred stock shall have recelred cash dividends of 4 p. c. per annum for two con- ""utiTe years, although the voting trustees may. in their discretion, deliver the stock at any earlier date Seren semi-annual dividends have been paid on the first preferred stock, lip. c. each lr March and Sept. 1900 ; 2 p. c. each In March and Sept., 1901. and In March. 1902 ; 1 p. c. in Oct 1902. and 2 p. c. in March. 1903. It Is provided that no additional mortgage shall be put upon the property acquired under the ulaa of reorganization, nor shall the amount of the first preferred stock authorized under said plan {*> Increased, except with the consent, in each Instance, of the bolder* of a majority of the whole amount of each class of preferred stock, given at a meeting of the stockholders called for that pur- pose, and with the consent of the holders of a majority of such part of the common stock as shall be represented at such meeting, the holders of each class of stock voting separately ; also that the amount of the second preferred stock shall not be increased except with like consent by the holders of a majority thereof, and a majority of such part of the common stock ae shall be represented at the meeting ; except that at any time after dividends at the rate of 4 p. c. per annum shall have been paid for two consecutive years on the first preferred stock, the company may convert the second preferred stock at par, one-half Into first preferred stock and one-half into common stock, and may Increase said classes of stock by the necessary amounts. During the existence of the voting trust the consent of holders of like amounts of the respective classes of beneficial certificates is also neces- sary for any increase of stock other than for the purpose Indicated. The Reading Co. reserves the right to redeem at any time either or both classes of its preferred stock at par in cash, if allowed by law. 8. Statement of business for ten fiscal years, of the railroad and the coal and iron property for the years 1893-96, and of all three companies for 1897-1902: EARMNO«, EXPENSES, ETC., OFTHK RAILROAD SYS i EM FOR THE TEN YEARS. TRAFFIC AND JOINT EARNINGS OF THE ENTIRE PROPERTY. Gross Earnings. Working Expenses. Net Earnings. Pas- sengers Carried One Mile. Coal Carried (Tons of 2.240 Ibe.) One Mile. Merchan- dise Carried One Mile. Output of Coal from Lands of CM A Iron Co., Tons 2,240 Ibs. Gross Receipts. Net Income. 1893-Nov.30 1894 . 1895 1806 1897-June 30 MM 1899 1900 1901 1902 $ 24.155,895 20.344,775 21.300,575 20.682,676 20,235,294 21.475,242 22,456,193 26,109,734 27.617,421 29.170,378 $ 14,087,400 11.27,s.'Jyj 11.628,412 11,304,859 10,796,012 11,142,162 12.281,898 14,534,065 1">,742.WO 16.516.496 $ 10,068,495 9,065,786 9.672,163 9,377,817: 9,439,282 10,333,080 10,174,295 11,575,669 11,874,501 12,653,882 240.488,479 233,319,790 233,236,661 229,710,101 225,315,789 1,276,830,598 1,150,390,430 1,275,380,978 1,251,943,568 1.154.533.936 544,165,827 491,873,797 595,236,370 588,620,741 554,265,865 687,213.585 822,615,211 1,004,500,621 1,026,056,531 7,279,914 7,415,932 7,860,011 7,267,975 7,128,616 7,62(1,07(1 8,183,644 9,219,764 9,253,974 8,198,274 S 48,742,764 43,714,142 46,647,557 45,288,160 42,403,581 45,256,624 46,882,908 55,945,935 58,775,850 58,063,360 S 8,677,896 7.32.S.2D2 7,581.007 7,819.707 9,337,491 10.420,364 10,239,061 11,088,544 12,154,842 12,927.810 235.746,932 1,390,656,331 247,221, 152; 1.468.237.195 275,418,845 284,286,512 306,308,981 1,643,836,143 1,703,914,695 1.710.792,217 1,133,015,544 9. Funded Debt. — The funded debt outstanding on June 30, 1902 — total, $92,914,190.59, as per general balance sheet — consisted of the several issues of bonds in the following statement : 167.639,000 00 gen. gold 4s of Jan. 1, 1997. 1,428,190 59 bonds and mtges. on real estate. 600.000 00 D. R. Term gold 5s of May 20, 1942. 809.000 00 D. R. T. Ext gold 5s of July 1, 1942. $1,295,000 00 W. & N. RR. stock trust certificates. 23,000,000 00 J. C. coll. gold 4s of April 1, 1951. 3,000,000 00 equip, trust (series B). 1,305,000 00 equip, trust (series C). General Mortgage Loan. — This loan is secured by a joint mortgage of the Reading Co. and the Philadelphia and Reading Coal and Iron Co. to the Central Trust Co. of New York, as trustee. Ex- cepting mortgages and ground rents of an aggregate value of $262,714.99, and excepting $7,789,- 960.94 par value of canal securities, valued at $1,000, the mortgage covers all the property, includ- ing stocks and bonds (except such few shares of stock as qualify directors, etc.), owned by the Reading Co., and all the property of the Coal and Iron Co., but subject to the prior liens referred to hereafter. It will also cover any property hereafter acquired through the use of gen. mtge. bonds. A list of the stocks and bonds of sundry companies deposited with the trustee under the mortgage will be found elsewhere In this statement (see Sec. 12). The amount of bonds authorized by the mortgage Is $135,000,000, of which $68,906,000 had been issued June 30, 1902, but that amount Included $1.267.000 of bonds retired and cancelled. Of the $67,639,000 listed in the statement of funded debt, $62,904,000 represented bonds actually outstanding, the remaining $4,735,000 being held in the treasury. It Is provided that in any year in which dividends are declared or paid on either class of the capital stock a sum equal to 5 cents a ton on the anthracite coal mined during the preceding year from the lands of the Coal and Iron Co. shall be paid to the trustee under the mort- gage, if the aggregate of dividends so declared shall be equal to or in excess of such sum, and other- wise such lesser sum as shall be equal to the aggregate of such dividends. The amounts thus re- ceived by the trustee are applied to the retirement of gen. mtge. bonds at a price not to exceed par and accrued Interest, unless the Reading Company approves of the payment of a higher price. The trustee majr also Invest the amounts received under this provision In the securities in which the savings banks of the State of New York shall be at that time authorized to invest their funds. Of the $66,094,000 of gen. mtge. bonds unissued on June 30, 1902, a sufficient amount was reserved for the retirement of the several Issues of underlying bonds and real estate mortgages of the Reading Company, the railway company and the coal and Iron company, and $14,000,000 was reserved to be Issued at not exceeding the rate of $1,500,000 a year for the following purposes: (a) For the ac- quisition of additional shares of stock, if issued by the P. & R. Ry. Co., and of additional bonds of said company to be issued under Its mortgage dated Nov 18, 1896, such stock and bonds to be pledged under the Reading Company's mortgage; and (b) for the acquisition of railway lines, ex- tensions, terminal properties or rolling stock, etc., etc., or for the construction of betterments. POOR S MANUAL — READING COMPANY. 139 Wilmington and Northern Stock Trust Certificates. — Secured by $1,495,200 of the capital stock of the Wilmington and Northern RR. Co. deposited in trust with the Girard Trust Co., Philadelphia, Pa. The trust certificates are redeemable at 105 p. c. and accrued interest. Jersey Central Collateral Trust Bonds. — Secured on $14,500,000 of the capital stock of the Central RR. of New Jersey ; $1,495,000 of the capital stock of the Perkiomen RR. Co., and $440,000 of the capital stock of the Port Reading RR. Co., all of which are deposited in trust with the Penn- sylvania Co. for Insurances on Lives and Granting Annuities, of Philadelphia, Pa. The authorized issue is $45,000,000, but the remainder can be issued only for the purpose of acquiring additional shares of the capital stock of the Central RR. Co. of New Jersey, which are to be likewise deposited under the mortgage. The bonds are subject to redemption at 105 p. c. and accrued interest, on any interest date after April 1, 1906, on six months' previous notice. Equipment Trust Obligations. — Under date of Dec. 26, 1899, a car trust deed (now known as Series A) for $3,600,000 was executed with A. T. Stotesbury, of Philadelphia, as lessor and trustee. The trust runs to July 1, 1907, with interest at 4 p. c. per annum, payable Jan. and July, at the office of Drexel & Co., Philadelphia, Pa. The principal is to be paid in semi-annual installments of $252,000 each up to and including Jan. 1, 1907, and one payment of $324,000 on July 1, 1907. These payments will be made from the renewal fund. The trust covers 30 locomotives, 30 passenger cars, 500 box freight cars, 200 refrigerator cars, 2,500 wooden coal cars and 1,000 gondola cars. The series B trust certificates, originally $3,200,000 in amount, are payable $200,000 semi-annually from Sept. 1, 1902, to Sept. 1, 1909, with interest at the rate of 4J p. c. per annum, payable March and Sept. at the office of Drexel & Co., Philadelphia, Pa. The series C trust certificates are payable $87,000 semi-annually from Nov. 1, 1902, to Nov. 1, 1909, with interest af the rate of 4i p. c. per annum, payable May and Nov. The certificates are payable in gold, both principal and interest. Trustee : Girard Trust Co. of Philadelphia, Pa. The " series A " trust certificates do not appear on the general balance sheet of the Reading Co., or of the Philadelphia and Reading Ry. Co., as they were not issued by either company. Car Trust Certificates, Series D. — The need for additional locomotives, box, coal, refrigerator and stock cars, and passenger coaches became apparent during the past year, and orders therefor were placed to the extent of $2,706,624. An issue of Car Trust Certificates, known as Series D, to the amount of $2,500,000 will be made towards the payment for this additional equipment. 1O. Statement of claims against other companies due Reading Company. Brought forward $4,118,424 78 Rupert and Bloomsburg RR. Co 29,941 09 Schuylkill Navigation Co 15,73354 Stony Creek RR. Co 389,28915 Tamaqua, Hazleton & North. RR. Co. 43.6% 95 Tremont Coal Co 255,000 00 Chester and Delaware River RR. Co.. $142,769 78 Cape May, Dela. Bay and Sewell's Pt. RR. Co 25,938 32 Delaware River Ferry Co. of N. J.... 178,292 40 East Pennsylvania RR. Co 9,84465 Bast Mahanoy RR. Co 8,74259 Gettysburg and Harrisburg Ry. Co 128,911 71 Middletown and Hummelstown RR. Co. 36,419 67 Mammoth Vein Coal and Iron Co.... 72,80000 North Pennsylvania RR. Co 23,456 76 North East Pennsylvania RR. Co 131,52073 Phila. and Chester Valley RR. Co.... 15,073 07 Philadelphia Belt Line RR. Co 9,12964 Phila. and Reading Terminal RR. Co. 2,285,085 58 Philadelphia and Frankford RR. Co.. 221,96323 Pickering Valley RR. Co 377,46683 Preston Coal and Improvement Co 380,225 00 Reading Belt RR 70,78477 These claims mainly represent advances to sub-companies for construction and for acquisition of new property, made by the old P. & R. RR. Co. and the receivers, and were acquired by the pres- ent Reading Co. through the receivers' sale, excepting $269,676.65, which has been advanced by the present organization for the acquisition of new property. 11. Bonds and Interest Guaranteed — The following statement shows the guaranties of bonds and interest by the Reading Company and by the Philadelphia and Reading Ry. Co. For fur- ther details see the separate statements for the several railroads named in the statement : $4,852,085 51 Le«s Credit : Allentown RR. Co $25,363 99 Phila., Harrisburg and Pittsb. RR. Co 719,310 83 Shamokin Sunbury & Lewisburg RR. Co. . 612,444 70 — 1,357,119 52 $3,494.965 99 Valued at $858,708 13 Allentown Terminal RR. : $450,000 1st gold 4s of July 1, 1919, guaranteed as to principal and in- terest by the Philadelphia and Reading Ry. Co., and the Lehigh Coal and Navigation Co., jointly. Atlantic City RR. : $2,200,000 1st gold 5s of May 1, 1919, guaranteed as to principal and interest by the Philadelphia and Reading Ry. Co. ; and $4,- 500,000 1st consol. gold 4s of July 1, 1951, guar- anteed as to principal and Interest by the Read- ing Co. Catawitsa RR. : $195,500 1st 6s of Aug. 1, 1902, and $2,029,500 ($2,215,000 auth.) 1st consol. gold 4s of April 1, 1948 — both issues guaranteed as to principal and interest by the Philadelphia and Reading Ry. Co. Delaware and Bound Brook RR. : $1,500,000 1st 7s of Aug. 1, 1905, and $300,000 2d 6s of Aug. 1, 1905 — interest on both issues guaranteed by the Philadelphia and Reading Ry. Co. under the terms of the lease. East Pennsylvania RR. : $495,000 1st gold 4s of March 1, 1958, guaranteed as to principal and interest by the Philadelphia and Reading Ry. Co. Gettysburg and Harrisburg Ry. : $215,000 1st gold 5s of Oct. 1, 1926, guaranteed as to principal and Interest by the Philadelphia and Reading Ry. Co. Norristown Junction RR. : $37,000 1st 5s of Feb. 1, 1910, interest guaranteed by the Philadelphia and Reading Ry. Co. under the terms of the lease. Northeastern Pennsylvania RR. : $400,000 1st gold 5s of April 1, 1920, guaranteed as to prin- cipal and interest by the Philadelphia and Read- ing Ry. Co. North Pennsylvania RR. : $1,500,000 1st 4s of May 1, 1936; $4,500,000 gen. 7s of Jan. 1, 1903; $1,200,- 000 6 p. c. loan of Sept. 1, 1905, and $302,000 fund- ing gold 4s of Nov. 1, 1928. Interest on all four issues is guaranteed by the Philadelphia and Reading Ry. Co. under the terms of the lease. Perkiomen RR. : $1,924,600 1st gold 5s of Jan. 1, 1918, in two series, guaranteed as to principal and interest by the Philadelphia and Reading Ry. Co. Philadelphia and Chester Valley RR.: $280,510 preferred gold 4s of April 1, 1938, and $100,000 nonpreferred gold 3s of April 1, 1938, both issues guaranteed as to principal and interest by the Reading Co. 140 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. Philadelphia and Frankford RB. : $500.000 1st gold 4s of Aug. 1. 1922. guaranteed w to prin- cipal and interest by the Reading Co. /'/iitaifr/i'fita, llarrisbur". Mortgage. $ 5.00000 2,50000 3750 Hated Under General Mortgage. $ C*Uwk»RR.Co..Con.Mtg. Camden County RR. Co CokbrookdaleRR.Co. 593,40000 Central RR. Co. of Pa. Certificate of Deposit under Phila. cAnnAnm Subway Contract 500,00000 Cape May. Del Bay A Sewell's Pt. RR. Co 150,00000 Gett.AHar.Ry.Co.CarTr'U 18.00000 Mansion House Hotel Co Noniatown Junction RR. Co Ocean City RR. Co oi Ocean City RR. Co. Scrip 21,06250 Phila. 4 Reading RR. Co. Debenture 4 Guarantee Scrip People'iRy.Co 36.00000 PerfaomenRR.Co 161,10000 Phila. Read 4 Pottav. TeL Co 200,00000 PhiL 4 Ches. Vy.RR. Co.. pref 25,00000 P. 4 C. Vy. RRl Co., not pref 47.000 00 PhiL. Harris. A Pitta. RR. Co 1.472.000 00 Phil.. Newt'n 4 N. Y. RR. Co 849, 100 00 Pickering Valley RR. Co 332,30000 Phil. 4 Frankford RR. Co 3,00000 Reading Co. Gen Mtge 4,735,00000 Read. 4 CoL RR. Co.. 1st Mtge. Read. 4 CnL RR. Co.. 2d Mtge. . Read. 4 CoL RR. Co., Debcnt. . Schuvlkill A Lehigh RR. Co. . . . Schuylkill Nav. Co., Loan, 1872. Schuylkill Nav. Co., Loan, 1882. 8. N. Co.. Impfov. Loan, 1880. . Schuylkill Nav. Co., Loan, 1895. a N. Co.. Boat and Car Loan. .. SeaCoart RR. Co., Series A Sea Coast RR. Co., Series B „, 80. Mount Ry. 4 Mining Co 100,00000 Tarn.. Hat. 4 Nor. RR. Co. 300,00000 TemptelronCo 277,00000 Washington and Franklin Ry. Co 137,00000 9,50000 35.00000 1.000,00000 109,00000 l.GS.V>"000 3,940,646 00 228.00000 1,181,00000 1,320,05000 5,00000 19425 6,00000 20000 1,50000 45,16599 Totals 13,766,68600 5,997,660 24 STOCKS. Allentown RR. Co., com 1.071,40000 5,00000 Atlantic City RR. Co., com 1,350.00000 7,90000 The Atlantic City RR. Co., pref 998.55000 60000 The Atlantic City RR. Co.. com 1,195,00000 BeaTfTCreekWaterCa.com. 25,00000 Camden County RR. Co.. com 50,00000 1,10000 Cains. 4 Pogels. RR. Co.. com. 251,62500 2,50000 Catawiaw RR. Co.. latpref 11,40000 Cat*wiasaRR.Co.,2dpref. 15,50000 Catavwaa RR. Co.. com. 732.80000 On.rrk4Ter.Ry. Co., com 181,60000 3.80000 Cen. Trans. Co. of Lyons, com 12,000 00 Chea. 4 Del. R. RR. Co.. com 37.50000 2.50000 ColebriK.kHale R R. Co., com 276,500 00 5,000 00 Cent. RR.Co.ofN.J..com 14,504.00000 STOCKS. Not Held by Trustee of General Mortgage. $ Pledged Under General Mortgage. C. M., Del. Bay A Sew. Pt. RR. Co.. com 138.20000 Danv A Sham'n RR. Co.. com 245,000 00 5 000 00 Del. R. FyCo.ofN.J.,com 490,00000 10.00000 East Mahanoy RR. Co., com 280,00000 305000 East Penna, RR. Co., com 875.00000 3,85000 Eastern Real Est. Co.. com 1 000 00 Gettys. A Har. Ry. Co., com 535,000 00 5,700 00 Longmead Iron Co., com 240 00 Mid. A Hum. RR. Co., com 170 000 00 5 000 00 Mill Creek A Mine Hill Nav. A RR. Co.. com 47,500 00 675 00 M. H. A S. H. RR. Co.. com 81,00000 .... M. C. A P. C. RR. Co.. com 37.50000 1060000 NorristownJunc. RR. Co., com 17,500 00 2,50000 N. E. Penna. RR. Co.. com 315,00000 395000 North Penna. RR. Co., com 128,80000 Norristown A Main Line RR. Co., com 50,00000 Ocean St. Pass. Ry. Co.. com 4,00000 People's Ry. Co. of Pottsv., com. . . . 53,500 00 560 00 Perkiomen RR. Co., com 1,499 600 00 Phil. A Ches. V. RR. Co., pref 205,10000 PhiL A Ches. V. RR. Co., com 450,000 00 4.450 00 Phila. A FrTd RR.Ca.com 498,95000 1.05000 Phila., H. A P. RR. Co., com 1,995,000 00 5.000 00 P. A R. Term. RR. Co 8,500,000 00 Phil. Belt Line RR. Co., pref 78,00000 50000 Philadelphia Bourse, pref 575 00 Philadelphia Bourse, com 1,50000 Philadelphia Harbor Transfer 20,000 00 P., N. A N. Y. RR. Co., pref 375,00000 P., N. A N. Y. RR. Co., com 625,60000 P.. R. A P. TeL Co., com 18,45000 1,0.5000 Pickering VaLRR. Co., com 60,00000 1.75000 Port Reading RR. Co., com 1,555,00000 445.00000 Pottstown Iron Co., 1st pref 7,686 95 Pottstown Iron Co., 2d pref 48,73819 Pottsv. Union Tiac. Co., com 80.400 00 Reading Co., com 50,00000 Read. A Colum. RR. Co., com 785,000 00- 3.200 00 Reading Belt RR.. com 750.000 00 Reading Iron Co., com 998,00000 2,00000 Rup. A Blooms. RR. Co., com 48,000 00 2.000 00 Schuyl. A Lehigh RR. Co., com 598.00000 2,00000 Schuyl. V. N. A RR. Co.. com 61.00000 1,30000 Sha. Sun. A L. RR. Co., com 1 995,000 00 5,000 00 Slatington RR. Co., com 19,50000 50000 Stony Creek RR. Co., com 90.900 00 Swedes Ford Bridge Co., com 9,00000 Sea Coast RR. Co., pref 5.361 00 Sea Coast RR. Co., com • 5,36100 Tarn. Haz. A Nor. RR., com 295,000 00 5,000 00 Temple Iron Co., com 283,10000 Wilm. A No. RR. Co., com 1,495.40000 West. Chester St. Ry. Co., com 150,00000 Total* 18,383,875 00 30,016.747 14 8UXMAXT. Par Value of Bonds $19.764,346 24 I Par Value of Stocks $48,400,62211 Value as per Balance Sheet 19,102,835 43 | Value as per Balance Sheet 51,244,30360 POORS MANUAL OF RAILROADS. 141 13. Board of Directors, Reading Co., as Constituted March 1, 1903. Geo. F. Baer. .Philadelphia, Pa. J. Lowber Welsh H.McK.Twoinbly.New York.N.Y. G. C. Thomas. Philadelphia, Pa. H. A. Dupont. Wilmington, Del. H. P. McKean. Philadelphia, Pa. S. Dickson.. .Philadelphia, Pa. Chas. Steele...New York, N. Y. .T. S. Harris.. Philadelphia, Pa. GEORGE F. BAER, President Philadelphia, Pa. VV. R. Taylor, V 'ice-President Treasurer — W. A. Church Philadelphia, Pa. | Secretary— W. R. Taylor Philadelphia, Pa. Comptroller — D. Jones Philadelphia, Pa. PRINCIPAL OFFICE AND ADDRESS Reading Terminal, Philadelphia, Pa. READING COMPANY— Subsidiary Corporations. PHILADELPHIA AND READING COAL AND IRON COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Directors and Officers 10 Divisional Bonds, Details of 4 Funded Debt 4 to 6 General Balance Sheet 3 History 1 Income Account 2 and 9 Liens on Property 1 and 4 Operations and Income. .2 and 9 Sinking Fund, Details of 8 Stocks and Bonds Owned — 7 Bonds and Stocks Owned. . . 7 Bonds Outstanding 4, 5 Coal Estate, Value of 1 Coal Lands Owned 1 Coal Trust Certificates C Collateral Sink. Fund Bonds 5 1. History. — Chartered as Laurel Run Improvement Co., May 18, 1871, for the pur- pose of acquiring and operating the coal properties with which the P. & R. RR. was con- nected. Present name adopted December 12, 1871. (See MANUAL for 1899, page 185.) Controlled by the Reading Company through ownership of the capital stock. The company owns 86,691 acres of coal land, valued a'c, $76,289,489.85, controls 9,852 acres and leases 7,429 acres. All of the properties and franchises of the company are covered by the general mortgage of the Reading Company. 2. Operations, year ending June 30, 1902. — Tons anthracite coal mined by com- pany (from lands owned, 5,985,032.04; from lands controlled, 267,280.11; from other lands, 716,253.08), 6,968,566.03; tons purchased, 1,034,290.02; tons sold, 8,289,828.07. On hand, 109,960.14 tons. Receipts — coal sales (anthracite, 25,150,543.94; bituminous, 910,661.35), 23,061,205.29; coal rents, $233,040.78; house and land rents, $88,984.38; interest and dividends, $57,712.55; other receipts, $78,586.59 — total, $26,519,529.59. Ex- penses— mining and repairs, $12,078,964.43; coal purchased (anthracite, $1,829,645.78; bituminous, $930,495.48), $2,760,141.26; royalty of leased collieries, $392,646.01; trans- portation and handling of coal, $7,028,659.13; taxes, $253,212.42; repairs of houses, etc., $17,644.90; all other expenses, $1,085,781.43; damages account coal dirt, $35,990; coal sold from stock, $505,853.35; colliery improvements, etc., $863,428.15; depletion of coal lands fund, $374,101.06 — total, $25,694,422.14. Profit in operating, $1,125,107.45. Fixed charges and taxes, $419,858.50. Surplus, $705,248.95; surplus forward, $835,647.78 — total, $1,540,- 806.73. Less 1^ p. c. interest on Reading Company "loan account," $888,780.61. Balance to credit of profit and loss, $652,116.12. 3. General Balance Sheet, June 30, 1902. Capital Stock $8,000,000 00 Divisional Coal Land Mtge. Bonds. . 274,500 00 P. & R. Collateral Sink. Fund Loan... 1,410,000 00 Reading Company 79,002,72056 Coal Trust five 10-yr. Gold Loan 3,600,000 00 Current Liabilities 729,24463 Balance to Credit of Profit and Loss 652,116 12 Property and Investments ($86,614,158.59): Coal Lands $60,365,704 92 Timber Lands 659,965 00 New York and Eastern Depots 707,00219 Western Yards and Depots 618,011 S7 Miners' and Other Houses 548,18767 Pottsville Shops. Real Est. & Imp. 369,666 99 Storage Yards and Washeries 389.12386 Other Real Estate 117,78758 Improvements at Collieries 7,078,69032 Equipments at Collieries 2,302,46763 Deadwork at Collieries S.711,477 31 Stocks and Bonds of Cos. Controlled 9,746,073 25 Cash and Current Assets 4,503,042 15 Depletion of Coal Lands Fund 1,626,516 21 Stocks, Bonds and Mortgages 924,864 41 Total Assets. $93,668,581 36 Total Liabilities $93,668,581 36 4. Divisional Bond*. — The divisional coal land mtge. bonds are dated and due as follows : $52,000 dated 1882, due 1902; $206,000 dated 1884, due 1904; $16,500 dated 1893, due 1903. 142 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. These bond* bear Intercut at 5 p. c. and 6 p. c. per annum. General mtge. bonds of the Reading Co. to an equal amount will be Issued In place of them as fast as they are retired. • •IIIII«-MI i Sinking I'nml Bund*. — The collateral sinking fund loan was issued in 1892 by the Philadelphia and Reading RR. Co., and was assumed by this company in the reorganiza- tion of 1896. It matured on Feb. 1, 1902, but was extended to Feb. 1, 1932, the rate of interest being reduced to 4 p. c. per annum, and the sinking fund charge to the fixed sum of $30,000 per annum The bonds are for $1,000 each, in coupon form, with privilege of registration. Principal and interest, free of all taxes, are payable in gold, at the Reading Terminal, Philadelphia, Pa. 6. Coal Tru»t Certlfloatesj. — The coal trust certificates ($1,000 each) are dated April 2, 1894. and mature April 1, 1904. They bear interest at the rate of 6 p. c. per annum, payable Jan., April. July and Oct., at the Pennsylvania Co. for Insurances on Lives and Granting Annuities, Philadelphia. Pa. Both principal and interest are payable in gold. The loan is secured by pledge with the Finance Co. of Pennsylvania of the coal and the coal accounts of the P. & R. Coal and Iron Co.. the Issue of securities being limited to an amount which will leave 25 p. c. of value in the hands of the Finance Co. 7. Stocka and Bond* Owned. — The company owns stocks and bonds of separate coal companies as follows: Stocks — Preston Coal and Improvement Co., $2,834,150; Fulton Coal Co.. $244.617.45 ; Locust Gap Improvement Co., $468,335.80 ; Tremont Coal Co., $2,958,850 ; Mam- moth Vein Coal and Iron Co., $604,990; Delaware Coal Co., $263,150; miscellaneous, $94,9^0 — total, $7,469,073.25. Bonds — Preston Coal and Improvement 4 p. c. mtge. bonds, $1,087,000 ; Tremont Coal Co. 6 p. c. mtge. bonds, $900,000 ; Mammoth Vein Coal and Iron Co., $290,000 — total, $2,277,000. Most of the stocks just named are subject to the P. & R. RR. Co.'s consol. mtge. of 1871-1911, and all of them are covered by the joint general mortgage executed by this company and the Reading Co. The bonds (except $81,000 Mammoth Vein Coal and Iron Co., which are held in the treasury) are deposited as collateral to the $1,410,000 sinking fund loan of 1892 issued by the P. & R. RR. Co. but assumed by this company, and they are also covered by the joint general mortgage of this company and the Reading Co. 8. Sinking: Fund. — The joint general mortgage of this company and the Reading Co. re- quires a sinking fund of five cents a ton on coal mined from the lands of this company to be set aside before the payment of dividends. This company sets aside annually an additional five cents for each ton mined so as to make reasonable provision against the depletion of its estate. The total amount of interest-bearing securities and cash in this fund on June 30, 1902, was $1,626,516.21. The fund will be used from time to time for the acquisition of additional coal properties and the construction of collieries, whenever such acquisition or construction is considered essential to the business interests of the company, and for the several business necessities of the company not other- wise provided for. 9. Statement of operations and income, years ending June 30, 1901 and 1902: 1901 1902 1901 1902 TOM Coal Mined: Company. 8,016,935 6968566 Receipt*: Coal Sales — Anthracite $ 27 697 104 22 $ 25 150 543 94 Tenants. . ... 1,237,038 1,229,708 807 357 84 910 661 35 Coal Rente 246 487 71 233 040 78 Total Production . 9,253,973 8,198,274 House and Land Rents 94' 284 20 88 984 38 TOM Coal Purchased : Other Receipts ... . 72 624 23 136 299 14 689903 769 900 Not Included Above 277,530 264390 Total Receipts 28 917 858 20 26 519 529 59 97 Iftfi (U4 3fl 25 394 422 14 967 433 1 034290 Net Receipts 1,811 21390 1.125.107 45 Average Cost per Ton 182.3 c. 202 8 c. Fixed Charges 36931465 419,85850 Tom Coal* Bold. 9 100 516 X 9S9 S°8 Average Rate per Ton 313.2 c. 314.4 c. 1 441 899 25 70524805 1O. Directors, Coal and Iron Co. (elected Oct. 13, 1902) .—Thomas McKean, John Lowber Welsh, Geo. C. Thomas, Joseph S. Harris, Philadelphia, Pa. ; H. McK. Twombly. Chaa. Steele, New York, N. Y. GEORGE F. BAEB, President Philadelphia, Pa. W. R. Taylor, V ice-President " " Treasurer — W. A. Church Philadelphia, Pa. Berrttary — W. G. Brown den. Mgr. — C. E. Henderson Philadelphia, Pa. Gen. ftupt. — R. C. Luther Pottsvllle, Pa. Gen. Coal Agent — Thos. M. Richards Philadelphia, Pa. PBINCIPAL OFFICE AND ADDBESS Reading Terminal, Philadelphia, Pa. READING COMPANY— Subsidiary Corporations. PHILADELPHIA AND READING RAILWAY COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Directors and Officers 13 Income Acct., Tears 1897-1902. 10 Earnings, Expenses, etc 7 Interest on Bonds, Details of 7a Floating Equipment fi Leased Lines. Statements for 12 Mile, in Detail. June 30. 1902 la Mile. Operated, June 30. 1902 1 Mileage Operated, 1897-1902. . 10 Operations & Inc., 1897-1902. . 10 Funded Debt. June 30, 1902... On. Bal. Sheet, June 30, 1902 Hlfitory Income Account, Year 1902.. Phila. Subway Loan 11 Reading Belt RR 2 Rentals, L'sed Lines.1896-1902 7b Rolling Stock, Details of 5 Rolling Stock, 1897-1902 10 Traffic Contracts 4 POOR S MANUAL — READING SYSTEM. 143 1. Mileage Operated, June 30, 1902 (owned, 365.61 miles). Main Line: Philadelphia, Pa., to Mount Carbon, Pa 98.47 miles. Branch lines owned by the company (see detailed statement following, Sec. la) 267.14 " Branch lines leased by the company (see detailed statement following, Sec. la) 637.72 " Total length of lines owned and leased, June 30, 1902 1,003.33 miles. 2d track (owned, 181.59 m.; leased, 243.41 m.), 425.0 m. ; 3d and other tracks (owned, 3.99 m.; leased, 9.11 m.), 13.10 m.; sidings, etc. (owned, 504.10 m.; leased, 451.83 m.), 955.93 miles. Gauge, 4 ft. 8y2in. Rail (steel), 56 to 90 Ibs. la. Statement showing in detail the mileage of roads owned and leased by the Philadelphia and Reading Ry. Co., June 30, 1902: NAME OF ROAD. Main Track. Seconc Track Total Track. NAME or ROAD. Main Track. Second Track. Total Track. P. • Reported -1 10,283,040 123,633.721 4,642,757 312,802,223 0.200,145 627,978,715 1,004,901 $ 2,071,018 8,595,404 277,079 29,206 5,598,828 10,037,700 30,479 5,529,908 10,384,304 349,546 33,539 5,695,141 11,116,988 334,989 35,654 6,120,842 10,515,411 348,029 39,331 6,167,221 9,739,461 339.479 Pamfngft Train Mileage , , Freight Train Mileage Mixed Train Mileage Total Revenue Train Mileage. . . Passengers Carried 15,636,528 18,671,433 235,746,932 9,862,641 687,213,585 12,981,667 1,390,650,331 2,926,446 $ 3,877,547 17,095,066 502.629 16,263,758 19,689,787 247,221,152 11,385,928 822,615,211 13,735,315 1,468,237,195 3.179,303 1 4,012,729 17,910,589 532,875 17,147,118 21,910,349 275,418,845 14,192,019 1 004 500 621 16,984,282 22,697,295 284,286,512 14,535,083 1,026,056,531 16,240.161 24,987,177 306.308,981 16,413.700 1,133015,544 PaiMmger Mile? Freight (tona) Moved Freight (ton) Miles Coal (gross tons) Moved. 15,212,275 1,643,836,143 3.326,642 $ 4,437,850 21,121,804 550,079 15,542,382 1,703,914.695 3,495,105 4,561,393 22,470,735 585,294 15,553,041 1.710,792,217 3,905,263 $ 4,880,705 23.641,467 648,206 Coal (ton) Miles'. . . Co.* s Freight and Coal Earnings — Passenger Freight. . . Mao, etc Gross Earnings 10,943,501 6,483,186 21,475,242 11,142,162 22,456,193 12,281,898 26,109,733 14,534,065 27,617,422 15,742,921 29.170.378 16,516,496 Working Expenses Net Earnings 4,460,315 204,640 10,333,086 511,593 10,174,295 546,395 11.575,668 793,254 11,874,501 726,748 1.253,882 345,156 Other Receipts. Net Income . . . 4,664,955 1,808,469 2.098,068 1,291,973 10,844,673 3,026,059 3,556,215 3,669,707 10,720,690 3,053,670 3,464,664 4,202,356 12,368,922 3,073.914 3,459,805 5,089,894 12,601,249 3,108.184 3,891.035 5,035,409 12,999.038 3,105933 3,891554 4.775 139 Lease Rentals Interest Account Other Charges. Total Payments. . . 5,198,510 — 833,654 11,973.19 7,093.20 4,879.99 59.24 p.o. 1.671 c. 0.826 c. 1.165c. 10,251,987 -1- 592.686 23,496.88 12,081.14 11,415.74 51.88 p.c. 1.645 c. 0.714 c. 1.042c. 10,720,690 11,623,613 + 745.309 26,109.73 14,534.06 11,575.67 55.66 p.c. 1.611 c. 0.692 c. 0.971 c. 12,034,628 -f 566621 27,608.86 15,738.04 11.870.82 57.00 p.c. 1.605 c. 0.727 c. 0.982 c. 11 772.626 1.226 412 29,073.56 16.461.68 12,611.88 56.62 p.c. 1.593 c. 0.725 c. 0.989 c. Balance (+ or— ) Grots Earnings per Mile. 24.542.29 13,422.24 11,120.05 54.69 p.c. 1.623 c. 0.687 c. 0.951 c. Operating Expenses per Mile Net Earnings per Mile Expenses to Earnings Aver. Rate per Pass, per Mile Rate per Coal Ton per Mile Rate per Freight Ton per Mile 11. City of Philadelphia Subway Loan. — To meet the cost of building the subway, :y of Philadelphia authorized an issue of $6,000,000 bonds, of which the receivers of the hlladelphia and Reading RR. were authorized to guarantee $3,000.000, principal and interest. The $2,700.000 listed on the General Balance Sheet are part of this amount. There are outstanding 3 p. c. bonds due in 1904, and $2,692,000 31 p. c. bonds due In annual Installments from r to 1921. They are due after ten years from the date of the loan in twenty annual installments. were assumed by the P. & R. Ry. Co. In the reorganization of 1896, Interest payable at the City Treasury, Philadelphia, Pa. POOR S MANUAL READING SYSTEM. 12. RAILROADS LEASED OB OPERATED BY THE PHILADELPHIA AND READING RY. Co. ALLENTOWN RR Topton to Kutztown, Pa., 4.45 m. ; total track (steel, 3.11 m.), 5.0S miles. HISTORY. — Chartered April 19, 1853. Operated by the P. & R. Ry. Co. ; rental, 30 p. c. of gross earnings. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $1,268,885; current liabilities, $12,746 — total, $1,281,631. Contra : Cost of road, etc., $1,085,748 ; cash and current assets, $57,482 ; profit and loss, $138,401 — total, $1,281,631. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt., Philadelphia, Pa. ALLENTOWN TERMINAL RR — Operated Jointly by the P. & R. Ry. Co. and the C. RR. Co. of N. J., under a lease for 999 years, by assign- ment from the Lehigh Coal and Navigation Co. The P. & R. Ry. Co. and the L. C. & N. Co. jointly guarantee, both as to principal and interest, $450,- 000 4 p. c. bonds of this company. For further particulars, see statement appended to that for the Central RR. Co. of New Jersey. CATAWISSA RR. — Tamanend to Newberry June., Pa., and branches, 102.95 m. ; 2d track, 18.49 m. ; total track, 190.38 miles. HISTORY. — Reorganization, in 1860, of the Catawissa, Williamsport and Erie RR. Co. Leased for 999 years from Dec. 15, 1896, to the P. & R. Ry. Co., on a guaranty of the bonds, both principal and interest, besides 5 p. c. a year on preferred stock (dividends M. & N.) and $8,000 a year for organization expenses. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($50 shares), $4,359,500; funded debt (assumed by lessee), $2,215,000; profit and loss, $216,721 — total, $6,791,221. Contra : Cost of road, $6,706,668 ; securities owned, $77,409 ; cash and current assets, $7,144 — total, $6,791,221. Capi- tal stock: 1st preferred, $2,200,000; 2d preferred, $1,000,000; common, $1,159,500 — total, $4,359,500. FUNDED DEBT consists of $195,500 1st 6s of Aug. 1, 1902, int. F. & A. and $2,029,500 ($2,215,000 auth.) 1st consol. gold 4s of April 1, 1948, int. A. & O. The 1st consol. mtge. bonds are intended to replace all other issues. CORPORATE OFFICERS. — G. Assheton Car- son, Pres. ; R. M. Elliott, Sec. & Treas. ; D. Jones, Compt., Philadelphia, Pa. Office, Philadelphia, Pa. CENTRAL DOCK AND TERMINAL RY. — In Buffalo, N. Y., 0.39 m. ; 2d track, 0.39 m. ; sidings, 2.55 m. — total, 3.33 miles. Gauge, 4 ft. 9 in. Rail (steel), 65 Ibs. HISTORY. — Organized May 31, 1889, to con- struct a railway and terminal dock in Buffalo, N. Y., connecting the freight yards of the New York Central and Hudson River RR. at East Buffalo with the dock at the foot of Georgia St., the object of the road being the transportation and shipment of coal. Leased to P. & R. Ry. Co. for a term of years expiring March 31, 1910. INCOME ACCOUNT. — Receipts, year ending June 30, 1902 (rental, $27,265; interest, $53), $27,- 318. Expenses and taxes, $8,725; dividends, (31 p. c.), $18,231 — total, $27,006. Surplus, $312; sur- plus forward, $73,305 ; net surplus, $73,617. BALANCE SHEET, June 30, 1902. — Capital stock ($500,000 auth. ; $100 shares), $487,500; profit and loss, $73,617 — total, $561,117. Contra : Cost of road, etc., $545,309 ; cash and other assets, $15,- 808 — total, $561,117. CORPORATE OFFICERS. — E. V. W. Rossiter, Pres., New York, N. Y. ; W. R. Taylor, Sec. ; W. A. Church, Treas., Philadelphia, Pa. Office, Grand Central Station, New York, N. Y. COLEBROOKDALE RR. — Pottstown to Barto, Pa., 12.84 m. ; total track (steel, 13.14 m.), 15.59 miles. HISTORY. — Chartered March 23, 1865; opened Sept. 12, 1869. Leased to the P. & R. Ry. Co. at a rental of 30 p. c. of gross earnings. BALANCE SHEET, June 30, 1902.— Capital stock ($50 shares), $297,215; funded debt (1st 6s of June 1, 1898), $600,000; interest accrued, not due, $3,000: current liabilities, $593,219 — total, $1,493,434. Contra : Cost of road, $672,342 ; cash assets, $61,406 ; profit and loss, $759,686 — total, $1,493,434. The Reading Co. owns $599,000 of the bonds and $281,500 of the stock. CORPORATE OFFICERS. — J. L. Bailey, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Philadelphia, Pa. DELAWARE AND BOUND BROOK RR. — Bound Brook June., N. J., to Delaware River (Pa. Line), 27.09 m. ; Trenton June, to Trenton, N. Y., 3.72 m. — total, 30.81 m. ; 2d track, 27.09 m. ; 3d track, 4.98 m. ; total track (steel, 60 m.), 77.97 miles. Rail, 90 Ibs. HISTORY. — Chartered May 12, 1874; main line opened May 1, 1876 ; Trenton Branch in 1877. In connection with the Central RR. of New Jersey and the North Pennsylvania RR., this road forms a line between New York and Philadelphia. Leased for 990 years from May 1, 1879 ; annual rental, interest on bonds, maintenance expenses, and 8 p. c. on capital stock. FINANCIAL STATEMENT. — Capital stock, $1,800,000; funded debt, $1,800,000 — total, $3,600,000. Contra : Cost of road, etc., $3,545,511. Funded debt consists of $1,500,000 1st 7s of Aug. 1, 1905; and $300,000 2d 6s of Aug. 1, 1905. CORPORATE OFFICERS. — E. C. Knight, Jr., Pres. ; J. H. Michener, Vice-Pres. ; J. S. Wise, Sec. & Treas., Philadelphia, Pa. EAST MAHANOY RR — East Mahanoy June, to St. Nicholas and branch, 10.95 m. ; 2d track, 2.10 m. ; total track (steel), 19.87 miles. HISTORY.— Chartered March 9. 1856; road opened July 10, 1860. Leased for 999 years from Dec. 1, 1896, at a rental of 5 p. c. on capital stock, besides expenses and taxes. (See Manual for 1900, page 169.) BALANCE SHEET, June 30, 1902. — Capital stock, $497,750; current liabilities, $3,430; profit and loss, $5,264 — total, $506,444. Contra : Cost of road, $497,793 ; cash and current assets, $8,651 —total, $506,444. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Reading Terminal, Philadelphia, Pa. EAST PENNSYLVANIA RR -- Reading to Allentown, Pa., 35.38 m. ; 2d track, 18.28 m. ; total track (steel, 63.31 m.), 76.61 miles. HISTORY. — Chartered April 21, 1857 ; opened May 11, 1859. Leased for 999 years, from May 1, 1869 ; rental, interest on bonds, 6 p. c. on stock (payable Jan. and July), and organization ex- penses. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $1,730,450; funded debt (1st gold 4s of March 1, 1958), $495,000; current lia- bilities, $9,845 ; interest account, $6,600 ; profit and loss, $145,232 — total, $2,387,127. Contra : Cost of road, etc., $1,905,586; other assets, $481,541 — total, $2,387,127. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Philadelphia, Pa. EAST TRENTON RR -- Millham, N. J., to terminus, 3.03 m. ; total track, 4.32 miles. Con- trolled by the P. & R. Ry. Co., and operated in connection with the Delaware and Bound Brook RR. Capital stock, representing cost of road. $59,000. CORPORATE OFFICERS. — E. C. Knight, Jr., Pres. ; J. S. Wise, Sec. & Treas., 240 So. 3d. St., Philadelphia, Pa. LITTLE SCHUYLKILL RR. — Pt. Clinton to Tamanend, Pa., 28.04 m. ; Greenwood Branch, 1.04 m. ; Wabash Branch, 2.40 m. — total, 31.48 m. , 2d track, 25.27 m. ; total track, 84.11 miles. HISTORY. — Chartered Feb. 20, 1826; opened In 1831. Leased for 999 years from Dec. 1, 1896, at a 148 rooil's MANOAL OF RAILROADS — MIDDLE ATLANTIC GROUP. yearly rental of 5 p. c. on stock, payable in gold, and $5,000 for organization expenses. INCOME ACCOUNT.— Rental, year ending juno 30. 1902. $129,392 ; other receipts. $6.098 — total, $135.490. Expenses. $4.427; dividends (5J p. c.), $124.392 — total. $128,819. Surplus. $6,671. BALANCE SHEET, June 30. 1902. — Capital stock ($50 shares), $2,487,850; current liabilities, $3,718; profit and loss, $73,429 — total, $2,564,997. Contra : Cost of road and lands, $2,406,944 ; stocks and other investments, $84,160; other assets, $74,- 893— total. $2.564.997. CORPORATE OFFICERS. — C. S. Tyson, Pres. ; J. Roberts Tyson, Treas. & Sec. ; D. Jones, Compt, Philadelphia, Pa. MILL CREEK AND MINE HILL NAVI- GATION AND RR — Palo Alto to New Castle, Pa., 3.81 m. ; 2d track, 3.81 m. ; total track ( steel, 28.23 m.), 34.45 miles. HISTORY. — Chartered Feb. 7, 1828; road opened Nov. 3. 1829. Leased July 25, 1861, for 999 years ; rental, $33,000 per annum, and taxes. Dividend* (June and Dec., 5 p. c. each), $32,337.50. BALANCE SHEET. June 30, 1902. — Capital stock ($25 shares). $323,375; current liabilities, $18,371 ; profit and loss, $3.253 — total, $345,002. Cost of road, $323,045 ; cash and current assets, $21,957 — total, $345,002. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. : D. Jones, Compt. Office, Philadelphia, Pa. MINE HILL AND SCHUYLKILL HAVEN RR. — Schuylkill Haven to Locust Gap. Pa., 29.12 m. ; branches, 12.91 m. — total. 42.03 m. ; 2d track, 20.95 m. ; total track. 136.38 miles. HISTORY. — Chartered March 24, 1828; opened Oct. 8, 1831. Leased for 999 years from Jan. 1. 1897, at a yearly rental of 6 p. c. on the capital stock. BALANCE SHEET, June 30, 1902.— Capital stock ($50 shares), $4,210,200; current liabilities, $3,116; contingent fund, $408,000 — total, $4,621,316. Contra : Cost of road, $4,165,573 ; bonds owned, $408.000 ; cash and current assets, $14,871 ; profit and loss, $32,872 — total, $4,621,316. Statement showing dividends from Jan., 1833, to July, 1886, is in Manual for 1887. CORPORATE OFFICERS.— B. H. Shoemaker, Pres. ; David J. Brown, Treas. ; J. G. McCollin, Sec. Office, 119 South Fourth St., Philadelphia, Pa. MOUNT CARBON AND PORT CARBON RR. — Mount Carbon to Port Carbon, Pa., 2.5 m. ; 2d track, 2.45 m. ; total track (steel, 13.98 m. ), 15.48 miles. HISTORY. — Chartered July 16, 1842; opened Feb. 8, 1S44. Leased for 50 years from March 5, 1S60. at a rental of $36,250 a year. Dividends paid (Jan. and July, 5.8 p. c. each), $32,753. BALANCE SHEET, June 30, 1902. — Capital stock, $282,350; current liabilities, $20,482; profit and loss, $5,412 — total, $308,244. Contra : Cost of road, $282.815 ; cash and current accounts, $25,429 — total, $308,244. CORPORATE OFFICERS. — Geo. F. Baer, Pre<. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt, Philadelphia, Pa. NORRISTOWN JUNCTION RR In Nor- ristown, Pa., 0.37 m. : 2d track, 0.37 m. ; total track (steel), 1.00 mile. HISTORY. — Chartered Nov. 8, 1879; road opened May 1, 1880. Leased from date of comple- tion. INCOME ACCOUNT. — Rental, year ending Juue 30, 1902, $2,620. Paid taxes and interest on bonds, $2,106. Surplus, $514. BALANCE SHEET, June 30, 1902. — Capital stock, $20,000 ; funded debt ( 1st 5s of Feb. 1, 1910), $37,000; unfunded debt, $162; interest ac- crued, $771 ; income balance, $3,443 — total, $61,376. Contra : Cost of road, $58,230 ; other assets, $3,- 146 — total, $61,376. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Philadelphia, Pa. NORTH PENNSYLVANIA RR Philadel- phia to Bethlehem, Pa., 55.57 m. ; Delaware River Branch, 20.49 m. ; Doylestown Branch, 10.15 m. — total, 86.21 m. ; 2d track, 75.03 m. ; total track (steel. 172.8 m.), 225.46 miles. HISTORY. — Chartered April 8, 1852 ; main line opened July 7, 1857; Delaware River Branch, Jenkintown to middle of Delaware River, 20.50 m., Jan. 10, 1876. Leased to the P. & R. RR. Co. (lease assumed by P. & R. Ry. Co.) for 990 years, from May 1, 1879 ; annual rental ( payable quar- terly, F., M., A. & N.), interest on bonds, 8 p. c. on stock, and $12,000 for organization expenses. BALANCE SHEET, June 30. 1902. — Capital stock ($50 shares), $4,720,850; funded debt, $7.518.- 000 ; ground rents, $47,854 ; real estate mortgages, $118,608; current liabilities, $384,114; profit and loss, $98.566 — total, $12,887,992. Contra : Cost of road, $10,354,525 ; equipment, $1,752,135 ; stocks owned, $49,465 ; bonds owned, $6,300 ; other perma- nent investments, $25,265 ; cash and current as- sets, $378,129; other assets, $322,173 — total, $12,- 887,992. FUNDED DEBT, June 30, 1902, consisted of $1,500,000 1st 4s (extended May 1, 1896) of May 1, 1936; $4,500,000 gen. 7s of Jan. 1, 1903; $1,200,000 reg. 6s of Sept. 1, 1905, and $318,000 gold funding 4s of Nov. 1, 1938. The gen. mtge. bonds have been extended for 50 years from Jan. 1, 1903, the rate of interest being reduced to 3.3 p. c. per an- num. CORPORATE OFFICERS. — J. H. Michener, Pres. ; J. S. Wise, Sec. & Treas. Office, 240 South Third St., Philadelphia, Pa. PHILADELPHIA AND READING TER- MINAL RR — Ninth and Fairmount Aves. and Broad and Noble Sts. to 12th and Market Sts., Philadelphia, Pa., 1.30 m. ; 2d track, 1.30 m. ; total track (steel; 80 Ibs.), 5.85 miles. HISTORY. — Organized April 13, 1888. Leased for 999 years from May 1, 1891, to the Philadelphia and Reading Ry. Co., lessee to pay all expenses of operating, and in addition a minimum rental sufficient for the payment of interest on bonds issued by the lessee for construction of this com- pany's railroad and buildings. BALANCE SHEET, June 30, 1902. — Capital stork ($50 shares), $8,500,000; current liabilities, $2,723.791 , real estate mortgages, $51,879 — total, $11,275,670. Contra: Cost of road, $11,274,-I73 ; cash and current assets, $1,1W — total, $11,275,670. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. R. Taylor, Sec. ; W. A. Church, Treas. ; D. Jones, Compt. Office, Reading Terminal, Philadelphia, Pa. PHILADELPHIA, GERMANTOWN AND NORRISTOWN RR Philadelphia to Norrls- town, Pa., 16.2 m. ; Germantown Branch, 4.3 m. — total. 20.66 m. ; 2d track, 20.26 m. ; 3d track, 3.02 m. ; total track (steel, 71.3 m.), 85.36 miles. HISTORY. — Chartered Feb. 17, 1831; opened Aug. 15, 1835. Leased for 999 years from Dec. 1, 1870. INCOME ACCOUNT. — Rental, year ending June 30. 1902. $277,623 ; other receipts, $386 — total, $278,009. Expenses, $7,165; dividends (12 p. c.), $269,628— total, $276,793. Surplus, $1,216. BALANCE SHEET, June 30, 1902. — Capital stock, $2,246,900; current liabilities, $64,636— total, $2,311,536. Contra: Cost of road, etc., $2,007,860: other investments, $3.952. Plymouth RR. account, $274,495 ; other assets, $6,512 : cash and current assets, $18,717 — total, $2,311,536. CORPORATE OFFICERS. — W. S. Wilson, Pres. ; C. C. Wilson, Sec & Treas. Office. 610 Mariner and Merchant Building, Philadelphia, Pa. POOR'S MANUAL — READING SYSTEM. 149 RAILROADS LEASED TO THE P. G. & N. RR. Co. Chestnut Hill RR. — Germantown to Chestnut Hill, Pa., 4.03 m. ; 2d track, 1.80 m. ; total track (steel), 7.81 miles. Chartered April 10, 1848; opened Oct. 16, 1854. Leased for 999 years from Dec. 1, 1870, to the Philadelphia, Germantown and Norristown RR. Co. The lease was modified Dec. 1, 1896, reducing the yearly rental payable by the P. & R. Ry. Co. to an amount equivalent to 6 p. c. on the capital stock and $300 for organization expenses. Balance Sheet, June 30, 1902. — Capital stock, representing cost of road ($29,284 per mile), $120,- 650; current liabilities, $71 — total, $120,721. Con- tra : Lands owned, $15,506 ; road, $105,144 ; other assets, $71 — total, $120,721. In July, 1902, the capital stock was increased to $195,650, the $75,000 additional stock to be delivered to the P. & R. Ry. Co. in payment for improvements to the property. W. W. Colket, Pres. ; C. C. Wilson, Sec. & Treas. ; D. Jones, Compt. Office, 610 Mariner and Merchant Building, Philadelphia, Pa. Plymouth RR. — Conshohocken to Oreland, Pa., 8.94 m. ; total track, 13.25 miles. Chartered Dec. 9, 1867. Leased for 999 years from Dec. 1, 1870, to the Philadelphia, German- town and Norristown RR. Co. Capital stock ($50 shares), $12,050; due the P.. G. & N. RR. Co., for advances, $274,495 — total, representing cost of road, etc., $286,545. W. S. Wilson, Pres. ; C. C. Wilson, Sec. & Treas. OfBce, 610 Mariner and Merchant Building, Philadelphia, Pa. Railroads Leased or Operated by PHILADELPHIA, HARRISBURG AND PITTSBURGH RR Harrisburg to Shippens- burg, Pa., 42.73 m. ; Cleversburgh Branch, 2.90 m. ; P. & R. Ore Branch, 1.54 m. — total, 47.17 m. ; 2d track, 6.16 m. ; total track (steel, 62.81 m.), 69.73 miles. Rail, 76 and 80 Ibs. HISTORY. — Consolidation, July 24, 1890, of the Harrisburg Terminal and the Harrisburg and Shippensburg Ry. Cos. (See Manual for 1891.) Leased for 999 years from Oct. 15, 1890, the lessee to pay as rental $200,000 per annum and taxes. BALANCE SHEET, June 30, 1902. — Capital stock, $2,000,000; funded debt (1st gold 5s of Oct. 15, 1925), $2,000,000; current liabilities, $12,280; accrued interest, $25,000 — total, $4,037,280. Con- tra : Cost of road, $3,997,113 ; cash and current assets, $35,002; profit and loss, $5,165 — total, $4,- 037,280. CORPORATE OFFICERS. — George F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt., Philadelphia, Pa. PICKERING VALLEY RR. — Phcenixville to Byer's Station, Pa., 11.21 m. ; total track, 12.52 miles. HISTORY. — Chartered April 3, 1869. Operated by P. & R. Ry. Co. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $95,655; funded debt (1st 7s of April 1, 1900), $332,300; current liabilities, $751,- 471 ; interest accrued, $5,815 — total, $1,185,241. Contra : Cost of road, $481,099 ; cash and current assets, $21,802; profit and loss, $682,340 — total, $1,185,241. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Philadelphia, Pa. SCHUVLKILL AND LEHIGH RR. — High's Farm, Reading, to Slatington, Pa., 46.16 m. ; West Reading Branch, 0.78 m. — total, 46.94 m. ; total track (bteel, 45.02 m.), 54.53 miles. Rail, 68, 70, and 79 Ibs. HISTORY. — Chartered in 1870; completed in July, 1874 ; reorganized June 7, 1880. Leased April 11, 1883, for 999 years from May 1, 1883; rental, $27,000 per annum and taxes. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $600,000; funded debt (1st 4s of May 1, 1918, Int. M. & N.), $600,000; current liabilities, $31,148 — total, $1,231,448. Contra: Cost of road, $1,213,800; cash and current assets, $17,- 648 — total, $1,231,448. The capital stock is owned, and the bonds guar- anteed both as to principal and interest, by the Reading Co. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Philadelphia, Pa. S< HUYLKILL VALLEY NAVIGATION AND RR. — Port Carbon to Reevesdale, Pa., 10.96 m. • 2d track, 5.24 m. ; total track (steel, 21.21 m.). 27.61 miles. HISTORY. — Chartered March 20, 1827; opened in 1830. Leased for 999 years from July 25, 1861 ; rental, 5 p. c. on capital stock and taxes. P. & R. Ry. Co.— Continued. BALANCE SHEET, June 30, 1902. — Capital stock, $576,050; current liabilities, $14,886; profit and loss, $3,129 — total, $594,065. Contra: Cost of road, $576,841 ; cash and current assets, $17,- 224 — total, $591,065. CORPORATE OFFICERS. — Geo. F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Philadelphia, Pa. SHAMOKIN, SUNBURY AND LEWIS- Kl'RG RR. — Carbon Run June., Pa., to West Milton, 31.29 m. ; 2d track, 14.81 m. ; total track (steel), 56.78 miles. Rail, 70 and 79 Ibs. HISTORY. — Chartered Feb. 12, 1882; opened in June, 1883. Leased for 999 years from July 2, 1883 ; rental, interest on bonds, 6 p. c. on capital stock and expenses, etc. BALANCE SHEET, June 30, 1902.— Capital stock ($50 shares), $2,000,000; funded debt, $2,000,- 000 — total, $4,000,000. Contra : Cost of road, etc., $3,386,898 ; cash and current assets, $613,102 — total, $4,000,000. FUNDED DEBT consists of $1,000,000 1st 5s of May 1, 1912; and $1,000,000 2d gold C.i of July 1, 1925. CORPORATE OFFICERS.— Geo. F. Baer. Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt. Office, Philadelphia, Pa. \VILMINGTON AND NORTHERN RR. — Wilmington, Del., to High's Junction, Pa., 71.50 m. ; Wharf Branch, 0.60 m. ; French Creek Branch, 5.90 m. ; Rockland Branch, 1.00 m. ; Dela- ware River Branch, 3.70 m. ; Christiana Avenue Branch, 1.87 m. ; South Walnut Street Branch, 1.07 m. ; Kentmere Branch, 2.77 m. — total, 88.41 m. ; total track (steel, 115.16 m.), 121.93 miles. Rail, 56 to 79 Ibs. HISTORY. — Successor, Jan. 18, 1S77, to the Wilmington and Reading RR. Co. (See Manual for 1891, page 584.) Leased to the P. & R. Ry. Co. for 999 years from Feb. 1, 1900, at a yearly rental equivalent to the interest on the bonds, 3J p. c. on the capital stock and taxes. ROLLING STOCK. — Locomotives, 29. Cars — passenger, 24; baggage, etc., 11; freight (box, 59; fiat, 492; stock, 2; coal, 10; caboose, 6), 569; other, 9; — total, 013. Also 3 tugboats, 5 car floats, and 3 lighters. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $1,500,000; funded debt, $760,- 000; equipment trust (covering 200 freight flats), $36,000; real estate mortgage, $25,000; current liabilities, $14,060; accrued interest, $4,858; profit and loss, $46,866 — total, $2,386,784. Contra : Cost of road, etc., $2,048,370 ; cash and current assets, $338,414 — total, $2,386,784. The Reading Co. owns more than 99J p. c. of this company's capital stock. FUNDED DEBT consists of $354,000 1st 5s of Dec. 1, 1927; and $406,000 ($1,000,000 auth.) gen. gold 5s of Aug. 1, 1932. The 1st mtge. bonds are redeemable after Dec. 1, 1907, and are secured on all property owned Dec. 1, 1887, except rolling 150 POOR'S MANUAL OP RAILROADS — MIDDLE ATLANTIC GROUP. stock. The gen. mtge. is secured on all property, including rolling stock. Of the gen. mtge. bonds a sufficient amount is reserved to retire the firsts at maturity. The guaranty of the Reading Co.. both as to principal and interest, is endorsed on the gen. mtge. bonds. CORPORATE OFFICERS. — H. A. Du Pont. Pres.. Wilmington, Del. ; Theodore Voorhees, 1st Vice-Pros. ; C. E. Henderson, 2d Vice-Pres. ; \V. A. Church, Treas. ; E. B. Shurter, Sec. ; D. Jones, Compt. Philadelphia, Pa. Office, Reading Ter- minal, Philadelphia, Pa. 13. Board of Directors, Philadelphia and Reading Ry. Co., elected October, 13, 1902. Geo. C. Thomas Phlla., Pa. J. Lowber Welsh.... - Henry P. McKean. . . Phila., Pa. H. A. Du Pont. Wilmington, Del. Chas. Steele. .New York, N. V. J. S. Harris. .Philadelphia. Pa. GEORGE F. BAER, President Philadelphia, Pa. Theodore Voorhees. 1st V ice-President Charles E. Henderson, 2d Vice-President " Treasurer — Wm. A. Church Philadelphia, Pa. I Se<-retary — W. R. Taylor Philadelphia, Pa. Gen. Stipt. — A. T. Dice Reading, Pa. | Comptroller — D. Jones PRINCIPAL OFFICE AND ADDBESS Reading Terminal, Philadelphia, Pa. READING COMPANY— Subsidiary Corporations. BEADING IRON COMPANY. Organized in November, 1896, to take over the iron lands and property formerly owned by the Philadelphia and Reading Coal and Iron Co. No official information can be obtained respecting this company, all requests therefor having been refused. Capital stock, $1,000,000, all of which Is owned by the Reading Co. and pledged under the joint mortgage of Jan. 5, 1897. Directors (elected Feb. 10, 1903).— George F. Baer (Chairman), F. C. Smink, J. Lowber Welsh, Joseph S. Harris, and S. R. Seyfert. OFFICERS: F. C. SMINK, Pres. , 1891. Operations, year ending June 30, 1902.— Train mileage — passenger, 127,617; freight, 17,807 — total, 145,4^4 miles. Passengers carried, 686,099; carried one mile, 3,97:5.711 Tons freight moved, !'7,l.i'.>; moved one mile, 1,121,600. Earnings — passenger, $5(5,(ii)t;; freight, $53,472; other. $110 — total, $110,188. Operating expenses, $95,539. Net earnings, $14,649; other receipts, $681 — total, $15,330. Total deductions, $41,900. Deficit, $2<>,57<). (This stntcnti-nt of operations is taken from the Annual Report of the Secretary of Inter- nal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1902.— Capital stock ($50 shares), $400,- 000; funded debt (1st gold 5s of April 1, 1920), $400,000; coupons accrued, not yet payable, $5.000; current liabilities, $353,966.80— total, $1,158,966.80. Contra: Cost of road, $730,549.80; cash and current assets, $2,766.59; profit and loss, $425,650.41— total, $1,158,966.80. The Reading Co. owns about 80 p. c. of the capital stock. Directors (elect cd Jan. 12, 1903). — John Lowber Welsh, C. E. Henderson, Daniel Jones, Theodore Voorhees, Samuel S. Thompson, Henry D. Paxson, B. H. Bail, Philadelphia. Pa.; Isaac Warner, Jr., Edward E. Paxson, E. Lav/rence Fell, Holicong, Pa. OFFICERS: GEORGE P. BAER, Pres.; W. A. Church, Trees.; W. R. Taylor, Sec.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Philadelphia, Pa. PERKIOMEN RR.— Perkiomen Junction, Pa., to Emaus Junction, Pa., 38.33 m.; total track, 50.40 miles. Gauge, 4 ft. 8^ in. Rail — iron, 68 Ibs.; steel (48.81 m.), 70 to 79 Ibs. History. — Chartered March 23, 1865; road opened, 9.5 m., Dec. 18, 1872; throughout on 1887. The track of the East Pennsylvania RR. is used between Emaus June, and Allen- town. Operations, year ending June 30, 1902. — Train mileage — passenger, 103,259; freight, 183,831 — total, 287,090 miles. Passengers carried, 190,334; carried one mile, 2,237,522; average mile rate, 2.266 cents. Tons freight moved, 1,194,521 ; moved one mile, 41,591,856; average ton-mile rate, 0.815 cent. Earnings — passenger, $55,558; freight, $338,878; other, $955 — total, $395,391. Operating expenses, $203,890. Net earnings, $191,501; other receipts, $1,666 — total, $193,167. Total deductions, $104,530. Surplus. $88,637. (This statement of operations is taken from the Annual Report of the Secretary of Internal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1902. Cost of Road J2.826.700 59 Cost of Rolling Stock 51000 Materials on Hand 7,930 48 Cash and Current Assets 193,83253 Profit and Loss 441,554 88 Total Assets $3,470,528 48 Capital Stock ($50 shares) $1,500,00000 Funded Debt 1,924,600 00 Current Liabilities 45,92848 Total Liabilities $3,470,528 48 Reading Company'^ Intereat. — The Reading Co. owns the capital stock and $161,100 of the bonds. All of the stock, except the shares reserved to qualify directors, is pledged under the Reading's Jersey Central collateral trust deed. Funded Debt.— The funded debt on June 30, 1902, consisted of $799.600 ($800,000 auth.) 1st series 5s of Jan. 1, 1918, and $1.125.000 ($1,450,000 auth.) 2d series 5s of Jan. 1, 1918, int. J., A., J. & O. Directors (elected Jan. 12, 1903).— Theo. Voorhees, C. E. Henderson, E. F. Smith, Jas. M. Landis, J. H. Loomis, Thos. M. Richards, Philadelphia, Pa.; Howard Boyd, Jacob B. Hillegass, Wm. F. Dannehower, Norristown, Pa.; D. K. Graber, Charles M. Reed, Jonathan P. llillegass, Pennsburg, Pa. OFFICERS: JAMES BOYD, Pres., Norristown, Pa.; Theodore Voorhees, Vice-Pres.; C. E. Henderson, 2d Vice-Prcs.; W. A. Church, Trees.; W. R. Taylor, Sec. ; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICK. Reading Terminal, Philadelphia, Pa. PHILADELPHIA AND CHESTER VALLEY RR. -Bridgeport, Pa., to Downingtown, Pa., 21.49 m. ; Cedar Hollow Branch, 2.44 m., total, 23.93 in. ; total track, 28.44 miles. Gauge, 4 ft. 8»/2 in. Rail (steel, 26.25 in.), 64, 68, 70 and 79 H». History.— Chartered March 7, 1888, as successor to the Chester Valley RR. Co. (See MANUAL for 1891.) Operations year ending June 30, 1902. — Train mileage — passenger, 34,673; freight, 25,166 — total, 59,839 miles. Passengers carried, 39,507 ; carried one mile, POOR'S MANUAL HEADING SYSTEM. 157 314,715; average mile rate, 2.018 cents. Tons freight moved, 247,884; moved one mile, 2,746,121; average ton-mile rate, 2.543 cents. Earnings — passenger, $7,092; freight, $69,845— total, $76,937. Operating expenses, $47,818. Net earnings, $29,119; other re- ceipts, $201 — total, $29,320. Total deductions, $15,180. Surplus, $14,140. (This state- ment of operations is taken from the Annual Report of the Secretary of Internal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1 902.— Capital stock ($550,000 common, $205,100 preferred; $50 shares), $755,100; funded debt, $380,510; current liabilities, $148,501.51; coupons accrued, not payable, $3,555.10 — total, $1,287,666.61. Contra: Cost of road. $1,099,066.36; cash and current assets, $79,512.74; profit and loss, $109,087.51— total, $1,287,666.61. Fnnded Debt. — The funded debt on June 30, 1902, consisted of $280,510 preferred 4s of April 1, 1938, and $100,000 non-preferred 3s of April 1, 1938. The bonds are guaranteed, principal and interest, by the Reading Co. Reading Company's Interest. — The Reading Co. owns all of the preferred stock, about 83 p. c. of the common stock, $25,000 of the preferred bonds and $47,000 of the non-preferred bonds. Directors (elected Oct. 13, 1902).— C. E. Henderson, James M. Landis, Charles Heebner, Theodore Voorhees, W. R. Taylor, Hugh DeHaven, Philadelphia, Pa. OFFICERS: GEORGE F. BAER, Pres.; W. A. Church, Treas.; W. R. Taylor, Sec.; D. Jones, Compt.. Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Philadelphia, Pa. PHILADELPHIA AND FRANKFORD RR.— Crescent ville, Pa., to Frankford, Pa., 2.59; total track (steel; 70 and 80 Ibs.), 4.09 miles. Gauge, 4 ft. 8y2 in. History. — Chartered March 21, 1892. Operated under agreement, dated May -I, 1894, by the Philadelphia and Reading Ry. Co., by which that company pays a sum equal to 25 p. c. of the gross receipts, to be applied by the trustees to the payment of interest on 1st mtge. bonds. Income, year ending June 30, 1902, $34,696.76. Paid interest on bonds, $20,000; taxes, $2,019.53— total, $22,019.53. Surplus, $12,677.23. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $500,000; funded debt (1st gold 4s of Aug. 1, 1922), $500,000; current liabilities, $232,950.62; profit and loss, $27,754.58 — total, $1,260,705.20. Contra: Cost of road, $732,192.92; cash and current assets, $528,512.28— total, $1,260,705.20. The Reading Co, owns the entire capital stock. Directors (elected Oct. 13, 1902).— W. W. Foulkrod, Theodore Voorhees, D. C. Nimlet, C. E. Henderson, John Lowber Welsh, William M. Horrocks, Philadelphia, Pa. OFFICERS: GEORGE F. BAER, Pres.; W. A. Church, Treas.; W. R. Taylor, Sec.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Philadelphia, Pa. PHILADELPHIA, NEWTOWN AND NEW YORK RR.— Erie Avenue Junction, Philadelphia, Pa., to Newtown, Pa., 20.67 m. ; Newtown Junction, Philadelphia, to Olney, Pa., 1.04 m.— total, 21.71 m.; total track (steel; 68 and 70 Ibs.), 25.16 miles. Gauge, 4 ft. 8^ in. History. — Chartered April 2, I860; road opened to Newtown, February 2, 1878. Consolidated Sept. 1, 1892, with the Philadelphia and Newtown Connecting RR. Co. Operations, year ending June 30, 1902. — Train mileage — passenger, 140,779; freight, 12,998— total, 153,777 miles. Passengers carried, 650,637; carried one mile, 3,609,248. Tons freight moved, 102,254; moved one mile, 979,329. Earnings — passenger, $57,680; freight, $44,622; other, $5,877— total, $108,179. Operating expenses, $97,184. Net earnings, $10,995; other receipts, $486 — total, $11,481. Total deductions, $28,874. Deficit, $17,393. (This statement of operations is taken from the Annual Report of the Secretary of Internal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1902. — Capital stock ($1,225,000 common; $400,- 000 preferred; $50 shares), $1,625,000; funded debt (1st gold 3s of Oct. 1, 1942), $1,417,- 000; current liabilities, $280,593.11; accrued interest, not yet payable, $3,802.50 — total, $3,326,395.61. Contra: Cost of road, $2,703,213.30; materials and supplies, $4,699.81; cash and current assets, $12,974.77; profit and loss, $605,507.73— total. $3,326,395.61. Reading Company'* Interest. — The Reading Co. owns $625,600 of the common stock, $375,000 of the preferred stock and $849,100 of the bonds. It guarantees $507,000 of the bonds, both as to principal and interest. Directors (elected Oct. 13, 1902).— Smith Harper, Samuel Gustine Thompson, Joseph S. Harris, John Lowber Welsh, George F. Baer, B. H. Bail, Theodore Voorhees, C. E. Henderson, Philadelphia, Pa. OFFICERS: JAMES BOYD, Pres., Norristown, Pa.; Theodore Voorhees, 1st Vicc-Pres.; C. E. Henderson, 2d Vice-Pres.; W. A. Church, Treas.; W. R. Taylor, Sec.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Philadelphia, Pa. 158 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. PORT READING RR. -Port Reading Junction, N. J., to Port Reading, N. J., 19.72 m. ; Woodbridge Branch, 1.94 m.; total track (steel; 80 and 90 Ibs.), 52.90 miles. Gauge, 4 ft. 8i/j in. History.— Chartered Nov. 5, 1890; road completed in Sept., 1892. No statement of operations furnished. Financial Statement, June 30, 1902.— Capital stock ($100 shares), $2,000,000 funded debt (1st gold 5s of .Tan. 1, 1941, int. J. & J.), $1,500,000; current liabilities, $91,927; profit and loss, $251,705— total. $3,843,632. Contra: Cost of road, etc., $3,721,- 291; cash and current accounts, $122,341 — total, $3,843,631.75. The Reading Co. owns the entire capital stock. Directors (elected Oct. 13, 1902).— George F. Baer, W. R. Taylor, D. .Jones, Theo- dore Voorhees, Jas. M. Landis, W. G. Brown, Philadelphia, Pa.; Frank Bateman, John Hood, Nathan Francis, H. C. Felton, Frank B. Sitley, Camden, N. J.; Edward H. King, Glassboro, N. J.; Samuel Garwood, \\illiainstown, N. J. OFFICERS: GEORGE F. BAEB, Prea.; Theodore Voorhees, Vice-Pres.; W. A. Church, Treas.; W. R. Taylor, Sec.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Camden, N. J. • READING AND COLUMBIA RE..— Owned: Columbia to Sinking Springs, Pa., 39.6 in. ; Lancaster Junction to Lancaster, Pa., 7.86 m. ; Manheim to Mount Hope, Pa., 5.91 m. — total, 53.37 m. ; total track (steel, 53.79 m.), 67.40 miles. Leased: Reading, Marietta and Hanover RR. (see subjoined statement), 6.36 miles; total track, 7.54 miles. Gauge, 4 ft. S}/2 in. Rail, 68, 76, and 79 Ibs. History.— Chartered May 19, 1857; opened April 1, 1864. Rolling Stock, June 30, 1902. — Locomotives, 6. Cars — passenger, 4; freight (box, 1 ; flat, 8; stock, 3), 12; other, 7 — total cars, 23. Operations, year ending June 30, 1902. — Train mileage — passenger, 131,233; freight, 137,386— -total, 268,619 miles. Passengers carried, 333,334; carried one mile, 4,334,679. Tons freight moved, 401,756; moved one mile, 10.450,109. Earnings — passenger, $103,327; freight, $179,277; miscellaneous, $652 — total, $283,256. Operating expenses — transpor tation, 134,064; maintenance of way, etc., $35,930; of equipment, $14,958; general, $655 —total, $185,607. Net earnings, $97,649; other income, $481 — total, $98,130. Total de- ductions, $120,282. Deficit, $22,152. (This statement of operations is taken from the Annual Report of the Secretary of Internal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1902. Construction $2,420,614 72 Equipment 244,981 89 Materials and Fuel 10,317 46 Cash and Current Accounts 80,42457 Profit and Loss 1,540,629 21 Total Assets $4.296.967 85 Capital Stock Paid in ($50 shares).... $958.373 09 Funded Debt Outstanding 2,000,00000 Real Estate Mortgages 9,16667 Current Liabilities 1,312,136 42 Coupons Accrued, not Payable 17,291 67 Total Liabilities $4,296,967 85 Fnnded Debt. — The funded debt on June 30, 1902, consisted of $650,000 1st 5s of March 1, 1912, Int. M. & S. ; $350,000 2d 5s of June 1, 1904, int. J. & D. ; and $1,000,000 debenture 6s of Dec. 1, 1917, interest last paid in 1879. Heading; Company'* Interest. — The Reading Co. owns $788,200 of the capital stock, $9,500 of the 1st mtge. bonds, $35,000 of the 2d mtge. bonds and the entire issue of debentures. RAILROAD LEASED TO READING AND COLUMBIA RR. Co. Reading, Marietta and Hanover RR. — Marietta June, to Chickies, Pa., 6.36 m. ; total track. 7.37 miles. Reorganization, Feb. 28. 1882, of the Hanover Junction and Susquehanna RR. Co. Road opened throughout In March, 1883. Owned and operated Capital stock, $250,000; current liabilities, $82,- 587 — total, representing cost of road, etc., $332,- 587. George F. Baer, Pres. ; W. A. Church, Treas. ; W. R. Taylor, Sec. ; D. Jones, Compt., Philadel- phia, Pa. by the Reading and Columbia RR. Co. Directors, R. & C. RR. Co. (elected Jan. 12, 1 903 ) .—Theodore Voorhees, C. E. Hen- derson, D. Jones, John Lowber Welsh, B. H. Bail, Philadelphia, Pa.; Matthan Harl>- ster, Wm. Nolan, Reading, Pa.; B. F. Hiestand, Marietta, Pa.; J. H. Baumgardner, Win. N. Appel, Lancaster, Pa.; H. L. Haldeman, Chickies, Pa. OFFICERS: GEORGE F. BAEH, Pres.; W. A. Church. Treas.; W. R. Taylor, Kcc.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Philadelphia, Pa. RUPERT AND BLOOMSBURG RR.— Rupert, Pa., to Bloomsburg, Pa., 1.57 m.; total track (steel; 68 and 70 Ibs.), 2.28 miles. Gauge, 4 ft. Sy2 in. History. —Chartered Dec. 31, 1888; road opened in Aug., 1889. Operations, year ending June 30, 1902. — Train mileage — passenger, 10.182; freight, 1,888 — total, 12,070 miles. Passengers carried, 62.849; carried one mile, 96,421; average mile rate, 3.029 cents. Tons freight moved, 28,678; moved one mile, 45,039; average ton mile rate, 13.425 cents. Earnings — passenger, $3,026; freight, $6,046 — total, $9,072. POOR'S MANUAL — READING SYSTEM. 159 Operating expenses, $9,006. Net earnings, $67; add other receipts, $101 — total, $168. Total deductions, $157. Surplus, $11. (This statement of operations is taken from the Annual Report of the Secretary of Internal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1 902.— Capital stock ($50 shares), $50,000; cur- rent liabilities, $32,076.14 — total, $82,076.14. Contra: Cost of road, $58,241.78; cash and current assets, $151.37; profit and loss, $23,682.99— total, $82,076.14. The Reading Co. owns the entire capital stock. Directors (elected Oct. 13, 1902).— Charles Heebner, W. A. Church, W. R. Taylor, W. G. Brown, R. M. Oberteuffer, James M. Landis, Philadelphia, Pa. OFFICERS: GEOBGE F. P.AEK, Pres.; W. A. Church, Treas.; W. R. Taylor, Sec.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Philadelphia, Pa. STONY CREEK RR. — Norristown, Pa., to Lansdale, Pa., 10.07 m.; total track, 13.74 miles. Gauge, 4 ft. ~8y2 in. Rail— steel (12.43 m.), 75 and 80 Ibs.; iron, 56 and 68 Iba. History. — Chartered May 26, 1868; road opened January 1, 1874. Operations, year ending June 30, 1902. — Train mileage — passenger, 26,603; freight, 23,431 — total, 50,034 miles. Passengers carried, 87,747; carried one mile, 757,401; aver- age mile rate, 2.090 cents. Tons freight moved, 535,802; moved one mile, 4,854,714; aver- age ton-mile rate, 1.049 cents. Earnings — passenger, $16,332; freight, $50,948; other, $685— total, $67,965. Operating expenses, $35,959. Net earnings, $32,006 ; add other re- ceipts, $1,699— total, $33,705. Total deductions, $28,782. Surplus, $4,923. (This state- ment of operations is taken from the Annual Report of the Secretary of Internal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1902. — Capital stock paid in ($200,000 auth.; $50 shares), $176,100; funded debt (1st 7s of Oct. 1, 1907, int.), $350,000; current lia- bilities, $651,438.38; real estate mortgages, $3,000; interest accrued, not due, $6,125— total, $1,186,663.38. Contra: Cost of road and property, $540,272.54; materials, etc., $1,765.18; cash and current accounts, $21,444.30; profit and loss, $623,181.36 — total, $], 186,663.38. The Reading Co. owns a majority of the capital stock. Directors (elected Jan. 19, 1903) .—Theodore Voorhees, C. E. Henderson, E. F. Smith, J. H. Loomis, Thos. M. Richards, James M. Landis, Philadelphia, Pa.; Howard Boyd, J. H. P. Jenkins,' W. H. Slingluff, Jacob B. Hillegass, Montgomery Evans, Norris- town, Pa. ; Oliver G. Morris, Line Lexington, Pa. OFFICERS : JAMES BOYD, Pres., Norris- town, Pa.; Theodore Voorhees, 1st Vice-Pres.; G. E. Henderson, 2d Vice-Pres.; W. A. Church, Treas.; W. R. Taylor, Sec.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Philadelphia, Pa. TAMAdTJA, HAZLETON AND NORTHERN RR.— Lofty to Roan, Pa., 9.91 m.; total (steel; 70 and 79 Ibs.), 11.34 miles. Gauge, 4 ft. Sy2 in. History. — Chartered May 18, 1891, and road completed in the same year. Operations, year ending June 30, 1902.— Trains run (freight), 17,731 miles. Tona freight moved, 562,932; moved one mile, 1,896,094. Earnings— freight, $19,015; other, $2,000— total, $21,015. Operating expenses, $11,226; other deductions, $15,151 — total, $26,377. Deficit, $5,362. (This statement of operations is taken from the Annual Report of the Secretary of Internal Affairs of Pennsylvania.) General Balance Sheet, June 30, 1902.— Capital stock ($50 shares), $300,000; funded debt (1st gold 5s of Nov. 1, 1941, int.), $300,000; current liabilities, $142,500.11; coupons accrued, not payable $2,500 — total, $745,000.11. Contra: Cost of road, $666,- 456.58; cash and current assets, $35,837.56; profit and loss, $42,705.97— total, $745,000.11. The Reading Co. owns both the capital stock and the bonded debt of this company. Directors (elected Oct. 13, 1902).— Theodore Voorhees, James M. Landis, D. Jones, R. M. Oberteuffer, W. R. Taylor, C. H. Quarles, Roswell Weston, W. G. Brown, Phila- delphia, Pa. OFFICERS: GEORGE F. BAER, Pres.; W. A. Church, Treas.; W. R. Taylor, Sec.; D. Jones, Compt., Philadelphia, Pa. CORPORATE OFFICE, Reading Terminal, Phila- delphia, Pa. ULSTER AND DELAWARE RAILROAD COMPANY (THE). 1. Main Line Of Road. —Kingston Point to Oneonta, N. Y 107.26 miles. Stony Clove and Kaaterskill Branch: Phoenicia to Kaaterskill, N. Y 19.04 " Hunter Branch: Kaaterskill Junction to Hunter, N. Y 2.60 " Total mileage operated 128 . 90 miles. Sidings, 25.55 miles. Gauge, 4 ft. 8y2 in. Rail (steel, 150.54 m.) , 62 to 90 Ibs. 160 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. ii. History.— Consolidation, effective Jan. 1, 1902, of the Ulster and Delaware RR. Co., the Delaware and Otaego RR. Co., the Hobart Branch RR. Co., the Kaaterskill RK. Co., and tlu- Stony Clove and Catskill Mountain RR. Co. (see MANUAL for 1002, page 161). 3. Rolling Stock, June 30, 1902.— Locomotives, 24. Cars— passenger, 21; baggage, etc., 10; freight (box, 54; flat, 135; coal, 32; milk, 9) ; 230; other, 13; total, 274. 4. Operations, year ending June 30, 1902.— Train mileage — passenger, 237,517; freight, 201,304; other, 25,036— total, 463,857 miles. Passengers carried, 290,176; carried one mile, 8,365,267; average mile rate, 2.59 cents. Tons freight moved, 294,038; moved one mile, 19,796,277; average ton-mile rate, 2.30 cents. ^ Earnings— Passenger $221,302 62 Freight 405.188 57 Mail and Express 25.470 50 I \|M-!iM-s -Maint. Way and Buildings. . .$119.127 17 Maintenance of Equipment. . 49,047 77 Conducting Transportation . . 247,491 22 General 26,978 35 Total ($5,057.89 per mile) $651,96169 Total ($3,434.02 per mile) Net earnings (32.11 p. c.), $209,317.18; other receipts, $4,676.85— total, $213,994.03. Payments: Interest on bonds, $124,916.60; on debt, $8,434.03; taxes, $30,410— total, $163,- 760.63. Surplus, $50,233.40; surplus forward ($433,628.35; less deductions during year, $147,796.24), $285,832.11— total, $336,065.51. 5. Capital stock, bonded debt, revenues, etc., for eight fiscal years ending June 30: Years. 1895 . Capital Stock. I 1,794,600 Bonded Debt. $ 1,852,300 Cost and RR. Invest- Oper- ir.ents. ated. 8 M 4,020,622 86.40 Gross Earn- ing*. I 405,227 Expen- ses and Taxes. S 335,607 Net Earn- ings. S 69,620 Total Xet Rev'ue. $ 103,748 Interest Charges. S 92,600 1896.. 1897.. 1898.. 1899.. . 1,794.600 . 1.794.600 . 1,794,600 . 1,794.600 1,852,300 l.<»'.»7,300 1,997,300 1,997,300 4,123,920 87.40 4,236,279 87.40 4,288,057 87.40 4,346,647 87.40 419,355 400.757 405,268 417,194 334,026 310,023 308,101 313,342 84,729 90,734 97,167 103.&52 101,435 107,434 107,167 114,752 92,657 95,802 99,948 99,948 1900.. 1901.. 1902.. . 1,794,600 . 1,794,600 . 1,900,000 2,496,300 2,497,300 2.598,400 4,105,640 87.40 4,105,640128.90 5,272,795 128.90 473,663 C12.291 651,962 353,753 458,621 473,055 119,910 153.670 178,907 131,310 153,670 183,584 109,525 128,273 133,351 Total Pay- u.ente. $ 92,600 92,657 98.765 101,058 103.730 114,192 128,273 133,351 Balance (+OT-) $ + 11,148 -4-8 778 +8,669 +6.109 +11,022 +17.118 +2.5,397 +50,233 6. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $5,039,69508 Reserve Funds 233,10000 Materials and Supplies 53,445 09 Current Assets 77,449 42 Total Assets $5,403,689 59 Capital Stock $1,900,000 00 Funded Debt 2,598,40000 Reserve for Maintenance, etc 119,432 42 Accrued Interest on Bonds 22,061 63 Current Liabilities 194,63003 Stock of U. & D. RR. Co 233,100 00 Balance, Surplus 336,065 51 Total Liabilities $5,403,68959 7. Capital Stock. — The authorized capital stock is $3,000,000 in $100 shares. The amount unissued is reserved for general corporate purposes. 8. Funded Debt — The funded debt outstanding on June 30, 1902, consisted of $1,997,000 ($2,000,000 auth.) 1st consol. gold 5s of June 1, 1928; $600,000 ($3,200,000 auth.) 1st refunding gpld 4s of Oct. 1, 1952 ; and $1,400 2d income 7s of July 1, 1905. The refunding bonds were Issued to retire $500,000 2d mtge. bonds and for other purposes ; on April 1, 1903, $700,000 of them were outstanding. They are secured on the entire property of the company, but subject in Hen to the 1st consols, which cover the line from Kingston Point to Hobart, 77.83 miles, the branch from Phoenicia to Hunter, 14.08 miles, and, to the extent of $125,000, the line from Hobart to Rloomfleld, 8.79 miles. The refunding bonds were authorized, $2,000,000 to retire the 1st consols, $500,000 to retire the 2d mtge. bonds, $300,000 to pay for permanent improvements and equipment, and $400,000 for future use for construction, equipment, etc. 9. Directors.— Samuel D. Coykemlall, Kingston, N. Y.; Horace G. Young, Albany, N. Y. ; George I. Wilbur, Oneonta, N. Y. ; Thomas C. Coykendall, Alvah S. Staples, Amos Van Etten, Henry C. Soop, Harry S. Coykendall, Kingston, N. Y. ; one vacancy. SAMITEL D. COYKENDALL, President Kingston, N. Y. Thomas C. Coykendall, V 'ice-President " " Treasurer — Henry S. Coykendall.. Kingston, N. Y. | Secretary — Henry C. Soop Kingston, N. Y. Auditor. — R. B. Jones Rondout, N. Y. PRINCIPAL OFFICE AND ADDRESS Handout, N. Y. . POOR'S MANUAL OF RAILROADS. 161 WESTERN MARYLAND RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Directors and Officers 10 Earnings, Expenses, etc 5 Funded Debt, Details of 7 Gen. Bal. Sheet, June 30, 1902 6 History 3 Income Account 5 Leased Lines, Statements for 9 Mile. Operated, June 30, 1902 1 Rolling Stock, June 30, 1902. . 4 Sinking Fund, Details of 8 Trackage & Traffic Contracts 2 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 92.48 miles). Main Line: Baltimore (Fulton Jc. ), Md., to Williamsport, Md 90.2!) miles. Hillen Stalion Section: Hillen Station to Madison St., Baltimore, Md.... 0.40 '• Hagerstown Connections; with B. & O. & N. & W. RRs. at Hagerstown. . . . 1.79 " B. LEASED LINES (total, 165.11 miles). Bait. & Cumberland Valley Ry. in Md.: Edgemont, Md., to State Line, Pa. 3.03 " Baltimore & Cumberland Vy. RR. in Pa. : State Line, Md., to Wayn'boro', Pa 4.55 " Baltimore d Cumberland Vy. ItR. Exten.: Waynesboro' to Shippensburg, Pa. 26.52 Baltimore & Harrisburg Ry. : ( see appended statement, Sec. 9 ) 66.00 Baltimore & Harrisburg Ry., Eastern Extension: Porters' to York, Pa. ... 16.60 Baltimore' & Harrisburg Ry., Western Extension: Orrtanna to Highfield, Pa. 15.00 Potomac Valley RR.: Potomac Valley Jc., Md., to Cherry Run, W. Va 14.30 Washington & Franklin Ry.: Hagerstown North Jc., Md., to Zumbro Jc., Pa. 19.11 Total length of lines operated, June 30, 1902 257.59 miles. 2d track, sidings, etc. (owned, 42.50 m. ; leased, 51.95 m.), 94.45 miles. Gauge, 4 ft. 8% in. Rail — iron, 56 Ibs.; steel (owned, 116.14 m.; leased, 208.63 m. — total, 324.77 m.), 60, 70 and 80 Ibs. 2. Trackage and Traffic Contracts.— The company has trackage rights over 2.7 miles of railroad in Baltimore (from Madison Street to Fulton Junction), owned jointly by the Northern Central Ry. Co. and the Baltimore and Potomac RR. Co. Under an arrangement effective March 12, 1899, this company and the Philadelphia and Reading Ry. Co. supply motive power for through freight service between Hagerstown, Md., and Harrisburg, Pa., in proportion to interested mileage, Western Maryland engines running through to Harrisburg and Philadelphia and Reading engines to Hagerstown. All inter- changes of business made through the Cumberland Valley between the Philadelphia and Reading Ry., the Baltimore and Ohio RR. and the Norfolk and Western Ry. pass over this road. 3. History. — Chartered March 21, 1853; road opened Dec. 17, 1873. (See MANUAL for 1891, page 572.) On May 27, 1902, the entire interest of the city of Baltimore in this company was sold to a syndicate for the sum of $8,751,370.45. The ordinance under which the sale was made imposed upon the syndicate a contractual obli- gation to build terminals in the city of Baltimore costing not less than $3,000,000, this undertaking to be ultimately secured by the deposit of $3,000,000 bonds upon the railroad, the proceeds of which will be available for the construction and acquisition of terminals and terminal property. 4. Rolling Stock, June 30, 1902. — Locomotives, 71. Cars — passenger, 51; combina- tion, 10; parlor, 1; baggage, mail, and express, 14; milk, 1; market, 1; freight (box, 393; gondola, 281; stock, 52; refrigerator, 5; cabin, 26), 757; Russell snow-plows, 3; service cars, 199 — total cars, 1,034. Also 26 coal dumps. Of these, 99 box cars are leased. 5. General Income Account for nine months ending June 30, 1902. Earnings— Passenger $276,699 94 Freight 1,427,81044 Mail and Express 38,707 08 Miscellaneous 45,474 22 Total ($6,943.95 per mile) $1,788,69168 Expenses — Maintenance of Way, etc ... $167,015 25 Maintenance of Equipment. 154,322 99 Conducting Transportation. 624,954 52 General Expenses 81,896 65 Total ($3,991.57 per mile) $1,028,18941 Net earnings (42.52 p. c.), $760,502.27; other income, $3,121.04— total, $763,623.31. Payments: Interest on bonds, $166,810.99; taxes, $33,746.86; rentals, $104,478.52; other charges (interest, dividends and sinking funds), $54,710.14— total, $359,746.51. Surplus, $403,876.80. 162 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. The fiscal year of the company has been changed to end on June 30 instead of Sept. 30. Comparison .-annot ho inado with the nine months ending June 30, 1901, as the figures for that period are not available. In the MANUAL for 1902, page 164, will be found a table showing the results from operation for eight years, 1894-1901. 6. General Balance Sheet. June 30, 1902. Cost of Road and Equipment $6,434.238 74 Materials and Supplies 134.739 15 Securities in Treasury 1,523,355 00 Cash and Current Assets 565.059 34 Miscellaneous Assets 55,317 !*4 Profit and Loss 1,547,79271 Common Stock ($50 shares) $685,40000 Preferred Stock ($50 shares) 324,00000 Funded Debt and Unadjusted Accrued Interest 8,296,19499 Terminal and Station Obligations.... 320,38088 Current Liabilities 367,312 45 Miscellaneous Accounts 267,21456 Total Assets $10.260,50288 Total Liabilities $10,260,50288 7. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of $43,500 1st 6s due Jan. 1, 1890. endorsed by the City of Baltimore, and $178,500 2d preferred 6s due Jan. 1. 1895- also the following mortgages and debts to the City of Baltimore; $1,000,000 4th mortgage due Jan 1 1902, with interest at 6 p. c. per annum ; $1,704,000 5th mortgage due Jan. 1, 1927, with interest at 3J p. c. per annum ; $875,000 6th mortgage due March 1, 1930, with interest at 31 p c per annum; $684,000 City of Baltimore loan due July 1, 1925, with interest at 4 p. c. per annum ; and $226,530 of 6 p. c. funding certificates due July 1, 1890. The 4th, 5th, and 6th mort- gages represent issues of Baltimore City stock. The 6th mortgage is for $1,875,000, of which $1,000,000 is reserved for the retirement of the 4th mortgage. Interest on all issues is payable on the 1st of Jan. and July, at Hillen Station, Baltimore, Md. The amount of funded debt shown in the balance sheet includes the sum outstanding as per preceding statement of funded debt, less the amounts in 5th mortgage and 6th mortgage sinking funds and in sinking fund for City of Baltimore Loan of 1925, and also includes all unadjusted Interest on bonded indebtedness. 8. Sinking; Funds. — The sinking funds of this company in the hands of Baltimore Commis- sioners of Finance are as follows : Hillen Station sinking fund, $87,959.57 ; W. M. RR. Terminal sinking fund, $35,187.85; 5th mortgage sinking fund, $162,662.29; 6th mortgage sinking fund, $120,367.36 ; W. M. RR., 1925 loan, $81,234.45 — total, $487,411.52. 9. RAILROADS LEASED BY; THE WESTERN MARYLAND RR. Co. BALTIMORE: AND CUMBERLAND VAL- LEY RY.— From Edgemont, Md , to State Line, Pa., 3.03 m. ; total track (steel ; 56 IDS.), 3.53 miles. HISTORY.— Chartered Sept. 5, 1878; opened July 5, 1880. Leased to W. M. RR. Co. for 50 years, from July 1, 1879, with privilege of renewal or purchase ; rental, interest on bonds. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $42,500; funded debt (1st 6s of July 1, 1929), $48,500; sinking fund (contra), $1 997 ; accrued interest on funded debt, $1,455 — total, $94,452. Contra : Cost of road, $91,000 ; sink- ing fund, $1,997 ; W. M. RR. Co. accrued rental, $1,455— total, $94,452. CORPORATE OFFICERS. — J. M. Hood, Pres. ; J. T. M. Barnes, Sec. & Treas., Baltimore, Md. Office, Hillen Station, Baltimore, Md. BALTIMORE AND CUMBERLAND VAL- LEY RR. — State Line, Md., to Waynesboro', Pa., 4.55 m. ; total track (steel; 56 IDS.), 8.14 miles. HISTORY. — Chartered Aug. 19, 1878; road opened July 5, 1880. Continuation in Pennsyl- vania of the B. & C. Vy. Ry. and leased to W. M. RR. Co. for interest on bonds, the term and con- ditions of the lease being the same as for the Md. road. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $76.700; funded debt (1st 6s of July 1, 1929), $72,800; sinking fund (contra), $2,807 ; accrued interest on funded debt, $2,184 — total. $154,491. Contra : Cost of road, $149,500 ; sinking fund, $2,807; W. M. RR. accrued rental, $2,184— total, $154.491. CORPORATE OFFICERS. — I. N. Snively, Pres. ; Daniel Hoover, Treas. ; J. J. Miller, Sec., Waynesboro', Pa. BALTIMORE AND CUMBERLAND VAL- LEY RR. EXTENSION. — Waynesboro' to Shippcnsburg, Pa., 26.52 m. ; total track ( steel ; 56 and 80 lb?.), 36.52 miles. HISTORY. — Chartered June 25, 1880; opened throughout. Oct. 24, 1881. (See Manual for 1893.) Leased to W. M. RR. Co. for 50 years, from July 1, 1881, with privilege of renewal ; rental, $38,730 yearly, being 7 p. c. on $270,000 stock and 5 p. c. on $120,600 stock, together with interest on bonds. Both dividends and interest are payable Jan. and July, at Hillen Station, Baltimore, Md. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $390,600; funded debt (1st 6s of July 1, 1931), $230,000; unfunded debt, $16,535; pinking fund (contra), $8,137; due sinking fund, i2,000 ; accrued interest on funded debt and on guar. stock, $16,350 — total, $663,622. Contra : Cost of road, $637,135 ; sinking fund, $8,137 ; W. M. RR. Co. (acct. sinking fund, $2,000; acct. accrued rental, $16,350), $18,350— total, $663,622. CORPORATE OFFICERS. — T. M. Mahon, Pres.. Chambersburg, Pa. ; J. T. M. Barnes, Treas., Baltimore, Md. ; C. A. Suesserott, Sec., Cham- bersburg, Pa. Office. Chambersburg. Pa. BALTIMORE AND HARRISUl RG RY Emory Grove, Md.. to Orrtanna, Pa., 58.7 m. ; Valley Junction to Hanover Junction, Pa., 6 ra. ; Intersection to State Line, 1.3 m. — total, 66 miles. Operated : Baltimore and Harrisburg Ry., West. Extension (see below), 15 m. ; Baltimore and Harrisburg Ry. East. Extension (see below), 16.6 m. — total operated, 97.6 miles. Sidings, 18.64 miles. Rail (steel, 91.43 m.), 56 and 60 Ibs. HISTORY. — Consolidation, Sept. 20, 1886, of the Han. June., Han. & Gettysburg, Bachman Valley, and Baltimore and Hanover RR. Cos. (See Manual for 1888, page 338.) Leased for 50 years, from Oct. 25, 1886, to the W. M. RR. Co. ; rental, guaranty of fixed charges. ROLLING STOCK. — Locomotives, 3. Cars — passenger, 5 ; baggage, etc., 2 ; combination, 2 ; freight (box, 41; gondola, 28; stock, 16), 85; coal dumps, 4 ; service, 3 ; Russell snow-plow, 1 — total, 102. Also 17 hand cars and 19 trucks. BALANCE SHEET, June 30. 1902. — Capital stock (common, $690,900; preferred, $29,100), $720,- 000; funded debt (1st 5s of Nov. 1, 1936), $690,000; current liabilities, $52,018.99 ; securities owned, $58,314.05: profit and loss, $336,607.35— total, $1,- 856,940.39. Contra : Cost of road and equipment, $1,437.502.65 ; current assets, $361,123.69 ; securities owned. $58,314.05 — total. $1,856,940.39. SECURITIES OWNED by the company in- cluded in the balance sheet are as follows • $14 - POOR'S MANUAL OF RAILROADS. 163 500 2d mtge. bonds, $3,300 stock and $4,947 notes of the Berlin Branch RK. ; $20,000 stock of the Fred- erick and Pennsylvania Line RR. ; $13,091 notes of the Bachman Valley RR., and $476 of other notes— total, $58,314. CORPORATE OFFICERS.— Howard E. Young. Pres. ; R. M. Wirt, Sec., Hanover, Pa. ; J. T. M. Barnes, Treas., Baltimore, Md. Office, Hanover, Pa. RAILROADS LEASED TO THE BALTIMORE AND HABBISBURG RY. Co. Baltimore and Harrisbnrg H>. Bast. Ext. — Porters' to York, Pa., 16.6 m. ; total track (steel; 60 Ibs.), 20.14 miles. Chartered Nov. 29, 1890 ; road opened, Sept. 12, 1893. Leased to W. M. RR. Co., and B. & H. Ry. Co., jointly and severally, for 50 years, from Jan. 14, 1S91, with privilege of renewal ; rental, interest on $563,750 of 5 p. c. bonds, payable Jan. and July. (See statement for Potomac Valley RR.) Operated by the B. & H. Ry. Co. Balance Sheet, June 30, 1902. — Capital stock, $563,750; current liabilities, $14,328 — total, $578,- 078. Contra : Cost of road, $563,984 ; rental, etc., $14,094 — total, $578,078. W. H. Lanius, Pres. ; George S. Schmidt, Sec., York, Pa. ; J. T. M. Barnes, Treas., Baltimore, Md. Office, York, Pa. Baltimore and Harrisburg Ry. We«t. Ext — Orrtanna to Hightteld, Pa., 15 m. ; total track, 16.77 miles. Rail (steel, 15 m.), 60 Ibs. Chartered April 30, 1888 ; road opened June 4, 1889. Leased to B. & H.. Ry. Co. as lessor, and to W. M. RR. Co. as lessee of the B. &. H. Ry. for 50 years from June 1, 1889; rental, interest on bonds. Balance Sheet, June 30, 1902. — Capital stock, $240,000 ; funded debt (1st 5s of May 1, 1938), $240,- 000; accrued interest on bonds, $4,902; sinking fund, $3,010 — total, $487,912. Contra : Cost of road, $264,551 ; other assets, $220,351 ; sinking fund, $3,010 — total, $487,912. Howard E. Young, Pres., Hanover, Pa. ; J. T. M. Barnes, Treas., Baltimore, Md. ; W. P. Quim- by, Sec., Gettysburg, Pa. Office, Gettysburg, Pa. Railroads Leased by Western Maryland RR. Co. — Continued. POTOMAC VALLEY RR.— Potomac Valley June., Md., to Cherry Run, W. Va., 14.30 m. ; total track (steel ; 60 Ibs.), 24.02 miles. HISTORY.— Chartered Jan. 16, 1890; road opened Sept. 12, 1892. Leased to the Western Md. RR. Co. for 50 years, from Jan. 14, 1891 ; rental, interest on bonds, described below. BALANCE SHEET, June 30, 1902. — Capital stock (P. V. RR. Co., $500,000; P. V. RR. Co. of W. Va., $1,150), $501,150; funded debt (1st 5s of Jan. 1, 1941), $1,300,000; current liabilities, $6,890; accrued liabilities, $35,415 : payments and accre- tions to sinking fund, $80,889 — total, $1,924,344. Contra : Cost of road, $1,100,825 ; stocks owned, $564,900 ; sinking fund, $80,890 ; other assets, $177,- 729 — total. $1,924,344. FUNDED DEBT authorized is $2,000,000, to cover four independent lines, viz. : (1) Potomac Valley RR., 14.30 m. in operation, on which $737,- 000 bonds are outstanding; (2) Baltimore and Harrisburg Ry. Eastern Extension, 16.6 m. in operation, on which $563,000 are outstanding; (3) York, Pa., to Chickies, connecting with the main line of the P. & R. Ry., yet to be built; (4) Tbomasville to Bowmansdale, Pa., connecting with the P. & R. Ry. at Harrisburg, Pa., yet to be built. The Western Maryland RR. Co. and the Baltimore and Harrisburg Ry. Co. jointly and severally guarantee the bonds, both as to prin- cipal and interest. CORPORATE OFFICERS.— J. M. Hood, Pres. ; J. T. M. Barnes, Sec. & Treas., Baltimore, Md. WASHINGTON AND FRANKLIN RY Hagerstown, Md., to Zumbro, Pa., 19.11 m. ; total track (steel; 80 Ibs.), 28.61 miles. HISTORY. — Consolidation June 10, 1899, of the Hagerstown and State Line RR. Co. and the Washington and Franklin RR. Co. (See Man- ual for 1899, pages 208 and 209.) Road opened to Quinsonia, Pa., March 12, 1899 ; extension to Zum- bro, Pa., 5 m., opened Jan. 27, 1901. Leased to the W. M. RR. Co. at a rental equivalent to 5 p. c. on cost of road. BALANCE SHEET, June 30, 1902. — Capital stock, $150,000; funded debt (1st mtge. 5s of Jan. 1, 1939), $378,000; current liabilities, $12,573 — total, $540,573. Contra : Cost of road, $528,298 ; current assets, $12,275 — total, $540,573. CORPORATE OFFICERS. — W. U. Brewer, Pres., Chambersburg, Pa. ; J. J. Miller, Sec., Waynesboro', Pa. ; J. T. M. Barnes, Treas., Balti- more, Md. W. S. Pierce.. New York, N. Y. H. C. Deming.. J. W. Gates... Edwin Gould. . " F. S. Landstreet-.Baltim'e, Md. W. H. McIntyre..New York.N.Y. Jos. Ramsey, Jr. .St. Louis, Mo. C. W. Slagle... Baltimore, Md. 1O. Board of Directors, Western Maryland RR. Co., as constituted March 10, 1903. WINSLOW S. PIERCE, Chairman of the Board. . New York, N. Y. Geo. J. Gould.. New York, N. Y. L. Greer H. B. Henson. . " John M. Hood.. Baltimore, Md. S. Davies Warfleld Baltimore, Md. JOSEPH RAMSEY, JR., President St. Louis, Mo. Fairfax S. Landstreet, Vice-President and Gen. Mgr .... Baltimore, Md. Treas. & Asst. Sec. — J. T. M. Barnes.. Bait., Md. | Sec. — L. F. Timmennan New York, N. Y. Comptroller— H. B. Henson New York, N. Y. PRINCIPAL OFFICE AND ADDRESS Hillen Station, Baltimore, Md. NEW YORK OFFICE 120 Broadway, Manhattan. WEST VIRGINIA CENTRAL AND PITTSBURG RAILWAY COMPANY. (Controlled by Western Maryland BE. Co.) INDEX TO Tins STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock, Descrip. of.... 11 Coal & Iron Ry 3 Coal Mining Operations 8 Coal Properties 4 Coke, Shipments of 8 Directors and Officers 15 Earnings, Expenses, etc 9 Floating Equipment 7 Funded Debt, Description of. 2 History 2 Gen. Bal. Sheet, June 30, 1902 13 Gen. Bal. Sheet, 1896-1902 10 Income Acct., June 30, 1902. . 9 Income Account, 1896-1902 10 Leased Lines, Statements of 14 Mile. Operated, June, 30, 1902 1 Operating Divisions of Co... 5 Operations, 1896-1902 10 Rolling Stock 6 164 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GUOUP. 1. Mileage Operated, June 30, 1902 (owned, 131.4 miles). Main Line: W. Va. C. Jc. (with B. & O.) to Elkins, W. Va 84.4 miles. Elk Garden Branch: Harrison to Elk Garden, W. Va Davis Kranch: Thomas to Davis. W. Va Belington Branch: Elkins to Belington, W. Va Huttonsville Branch: Elkins June, to Huttonsville, W. Va I.KASEO: Piedmont d Cumberland Ry.: W. Va. C. Jc. to Cumberland, Md Total length of lines operated, June 30, 1902 160.6 miles. 2d track, (T.4 in.; sidings (owned, 46.04 m.; leased, 13.56 m.), 59.60 miles. Gauge, 4 ft. 8^ in. Rail (steel), 56, 60, 70, and 85 Ibs. 2. History.— Chartered February 23, 1881; road opened from Piedmont to Mine ville, 11.5 m., October 19, 1881; extension to Gorman, 19.6 m., opened August 1, 1883; extension to Thomas and branch to Davis, a total of 24.1 m., opened November 1, 1884; Elk Garden Branch, 7 m., opened December 17, 1888; extension to Elkins, 36 m., opened August 18, 1889; Belington Branch, 17.6 m., and branch from Elkins Junction to Beverly, 5.56 m., opened May 1, 1892; extension from Beverly to Huttonsville, 10.94 m., opened Feb. 5, 1899. (See MANUAL for 1889, page 645.) The Piedmont and Cumberland Ry. was leased in 1894, for a term of years expiring in 1911, at a rental of 37 p. c. of it^ gross earnings; but that lease has been abrogated and a new one made, effective July 1, 1899, which provides for a rental equivalent to the interest on the lessor's bonded debt and dividends of 5 p. c. per annum on its capital stock. As this company owns 92.6 p. c. of such capital stock, the rental payable under the lease is reduced to the fixed amount of $35,202.50 per annum. The operating accounts of the Piedmont and Cumberland Ry. were kept separate from those of the West Virginia Central and Pittsburg Ry. prior to July 1, 1899, but for the purpose of comparison, the operations and income of both roads are combined in the tabular statement, Sec. 10. 3. Coal and Iron Ry. Co. — The Coal and Iron Ry. Co. has been organized in the interest of this company to build a connecting link between this road and the Chesapeake and Ohio Ry. Besides providing an outlet south for the West Virginia Central and Pittsburg, and giving it an additional feeder, the Coal and Iron Ry. will create a short and direct line through the State of West Virginia, connecting the trunk lines north and south of it, and will form a link in a through route from Pittsburg to Newport News. This company is constructing the road, which will extend from Elkins south, about 43 miles, to Durbin, W. Va., at the Forks of Greenbrier River, where connection will be made with the Greenbrier River Ry., of the Chesapeake and Ohio system. The West Virginia Central and Pittsburg Ry. Co. owns the entire capital stock of the Coal and Iron Ry. Co., and in consideration of such ownership has guaran- teed, both as to principal and interest, $1,000,000 of 5 p. c. bonds secured by first mort- gage on the property of the same company. 4. Coal Properties. — Effective Jan. 1, 1900, the company purchased the entire capital stock and acquired title to the properties of the Davis Coal and Coke Co., con- sisting of 49,952.79 acres of coal and timber lands owned in fee and a leasehold of 1,764.09 acres. Previously to this the company owned 39,635.41 acres of similar lands, making a total of 91,352.29 acres owned and leased on June 30, 1900. During the year ending June 30, 1901, there were purchased 12,500 acres additional of coal and timber lands. The company, therefore, now owns over one hundred thousand acres of these lands. It also has 750 dwelling houses for its miners and other employes. With the Davis purchase the company acquired, besides a large and well established business, ten or twelve mines in full operation and nearly 600 coke ovens. A large area of the coal lands of the company is covered with valuable timber, some of which is under lease. The organization of the Davis Coal and Coke Co. has been maintained as a medium through which to market the company's products. 6. Operating Divisions of Company. — The operations of the company are di- POOR'S MANUAL WEST VIRGINIA CENTRAL AND PITTSBURG RY. CO. 165 vided into three branches — the Railway Department, the Coal Department, and the Heal Estate Department. The Coal Department dates from Jan. 1, 1900, when the properties and business of the Davis Coal and Coke Co. were acquired, and the revenue to the company therefrom, since that date, is reported separately. The Real Estate Department covers all the lands, houses, mining, and timber properties of the company. The revenue of the department comes from rent of houses, coal and timber royalties, and other like sources, and is stated separately in the General Income Account. 6. Rolling Stock, June 30, 1902. — Locomotives, 43. Cars — passenger, 12; combi- nation passenger, 6; baggage and mail, 3; freight (box, 152; coal hoppers, 376; gondolas, 1.747; flat, 25; caboose, 17), 2,317; service, 7 — total, 2,345. Also, 1 horse and carriage. 7. Floating Equipment. — The company owns 3 barges and 2 schooners. These vessels are employed in carrying the company's coal from Baltimore and Philadelphia to New England points. 8. Coal Mining Operations. — The first shipment from the company's mine was made on Oct. 20, 1881. The total shipments of coal from all mines on the line of the road from then until June 30, 1902, were as follows: ELK GARDEN REGION. UPPER POTOMAC REGION. ROARING CREEK REGION. & I Year. O .sfc . £11 tx,-a'3 «?r Davis and Elkins. (Windom). Atlantic. I 3« && 1 Thomas. i 1 1 fes •£ 5 OS jj "c. 3 >-> duster and Harding. •1881. 1882. 1883. 1884. 1885. 1886. 1887. 1888. 1889. 1890. 1891. t!892. J1893. t!894. 11895. J1S96. 11897. J1898. J1899. 11900. J1901. J1902. 11.372 228,294 261,075 375,590 268,780 211,852 259,354 356,259 353,216 414,547 420,503 183,715 359,195 292,000 392,909 436,477 369,590 331.689 339,678 336,331 307.141 325,867 11,372 257,068 330,017 458,760 401,350 346,929 448,821 563,598 560,345 700,240 823,874 400,136 816,649 748,431 891,127 992,623 1,053,460 1,108,729 1,260,023 1,460,044 1,410,578 1,410.713 28,774 68,942 83,170 65,792 50,686 59,801 30,407 1,737 5,926 2,603 1,812 4,741 10,735 59,269 168,507 178,434 135,403 193,951 403,018 369,918 396,088 57,213 63,715 107,605 97,285 8,434 17,904 18.287 69,297 99,771 111,477 141,142 56,572 97,767 92,757 45,001 35,590 72,320 65,008 62,435 76,123 141,491 44,521 1,131 2,772 3,774 10,350 23,320 30,495 55,888 43,120 95,536 117,681 125,781 202,074 252,594 341,098 389,031 417,402 377,684 419,135 18,671 73,384 88,576 32,356 80,697 50,590 82,158 42,383 62,934 63,121 92,192 25,361 42,759 43,472 52,323 13,837 15,W 31,577 65,2% 51,447 49,760 35,596 47,313 42,841 100,289 107,847 106,508 99,841 696 1,290 1,604 612 2,572 7,517 2,979 1,563 7,787 ' '168 240 502 4,238 32,727 33,187 30,059 39,839 99,380 5,718 20,410 31,834 36,415 36,467 5,489 363 2,641 5,235 5,926 10,207 25,890 30,351 27,990 27,270 20,542 33,849 884 7,395 8,495 1,061 152 20 23 12,529 35,066 35,158 162,319 146,626 49,524 51,617 53,537 "443 2,477 Totals. . 6,835.434 2,319,714 468,815 721,817 703,555 139,253 1,255,897 2,938,866 753,461 27,028 190,264 100,783 16,454.887 *Oct. 20 to Dec. 31, 1881 ; from 1882 to 1891, inclusive, years ending Dec. 31. tSlx months ending June 30. JYears ending June 30. The total shipments of coke from all ovens on the line of the road from July, 1887, when the first shipment was made, to June 30, 1902, were as follows: From Thomas ovens, 225,961 tons; from Coketon ovens, 1,376,865 tons; from Douglas ovens, 357,408 tons; from Custer ovens, 1,098 tons; from Junior ovens, 45,341 tons; from Harding ovens, 37,643 tons; an aggregate of 2,044,316 tons. !). General Income Account, year ending June 30, 1902 (160.68 miles). Earnings — Passenger $187,221 35 Coal and Coke 577,71390 Merchandise 427,58740 Mail and Express 27,96254 Miscellaneous 91,04588 Expenses— Maint. of Way and Struct. .. .$247,649 57 Maintenance of Equipment. . 226,213 54 Conducting Transportation... 311,52738 General Expenses 45,98156 Taxes 35,02612 Total ($8,162.38 per mile) $1,311,53107 Total ($5,392.07 per mile) $866,39817 Net earnings (33.94 p. c.), $445,132.90. Deductions: Interest, $195,000; rental of leased road (P. & C. Ry.), $35,942.92; other charges, $10,903.20— total, $241,846.12. Net 166 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. income from railway operations, $203,280.78. Add income from other sources: Coal de partmi-nt.. $553,950.22; real estate department, $111,129.75 — total, $665,079.97. Total ii.-t. irif..nif f..r \car, $868,366.75 less dividend Nos. 17 and 18, $411,282; surplus, $457,- 084.75; surplus forward, $1,932,879.17— total, $2,389,963.92. 1O. Statement of operations, capital accounts, etc., for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Mil™ Road Operated (average) 151.G4 177094 151.64 175,452 151.61 177.417 154.22 189,102 160.68 221,270 160.68 223,863 160.68 223,9.54 Freight Mixed 330. 123 23770 309.772 22,958 320.486 22.825 312,841 23.513 359.619 8,636 323,870 8,212 326,471 8,632 Total Revenue Mileage -.:2. -12:! 132,170,475 140,347,433 s 104,496 $ 101,557 $ 102,633 $ 105,514 $ 138,473 S 178,171 S 187,221 633,929 632,629 640.603 694,373 • 840,980 886,752 1,005,301 Other . 117487 108,606 145,060 145,305 138,124 117,258 119008 Gross Earnings 855,912 842,792 888,296 945,192 1,117577 1,182,181 1,311,531 502336 521,209 559,332 568,519 664,780 723,257 866398 Net Earnings 353576 321,583 328,964 376,673 452,797 458,924 445 133 Other Receipts 102607 77,665 78,457 70,880 344,139 685,026 ('•71 113 Net Income 456183 399,248 407,421 447,553 796,936 1,143,950 1 116246 Payments — Interest 180000 180,000 183000 193,625 201,701 207,373 211936 55000 27500 55000 82500 150000 150000 411 282 Other. 149297 125221 127978 133546 94 106 69005 3,5943 Total Payments 384297 332,721 365978 409,671 445,807 426,378 659 161 Balance, Surplus 71886 66527 41 443 37882 351 129 717 572 457085 563100 554468 584405 G 137 61 6 955 28 735736 8 16238 Operating Expenses per Mile 330484 342901 3 679 81 3691 68 4 13729 4 501 23 539207 Net Earnings per Mile 232616 2 11567 2 164 24 2 445.93 2 817 99 2 856 14 2 770 31 5869p c 61 84 p c 6297p c 60 15 p c 5948p c 61 18 p c 6606p c Average Rate per Pass, per Mile Average Rate per Ton per Mile Milee RR. Owned 2.75c. 0.68 c. 12240 2.79 e. 0.66 c. 12240 2.77 c. 0.58 c. 12240 2.80 c. 0.56 e. 131 80 2.81 c. 0.58 c. 131 40 2.78 c. 0.68 c. 131 40 2.79 c. 0.72c. 131 40 Miles Track Owned ... . 158 16 15831 161 40 17300 17520 18297 18388 Locomotives 32 32 35 36 39 41 43 Passenger and Baggage Cars. 18 18 16 16 16 20 21 Freight and Other Care. 1 870 1921 2069 2 142 2215 2305 2324 Capital Stock » 6000000 $ 6000000 1 6000000 $ 6000000 * 10000000 S 10000000 S 10 564 100 Funded Debt 3000000 MnnoilOO 3 100000 3250000 3250000 3250000 3 250000 Coupons. 90365 90485 93335 97300 97330 97750 98590 Kills Payable 218680 283820 167 791 135000 295000 190000 285000 Current Account*. 160912 141 795 163 463 172220 580815 542963 453835 Profit and Loss 773^325 812!353 881,296 946,677 1,365,307 1,932,879 2,389,964 Total Liabilities Railroad Construction 10,243,282 2535708 10,328,453 2 561 774 10,405,885 2 567 777 10.601,197 2685511 15,588,452 2 697 131 16,013,592 2742603 17,041,489 2 773 122 Equipment 1 272 1 12 1 293571 1 378 309 1 430 SOS 1,586,995 1 750 192 1 749 494 Kr:il Mstate. etc 0056 89'' 6071 317 6083 747 6081 680 ,s 7'») •';') 8 '.'Os 128 8 623 094 Otlifr Property 58 107 58 107 54'219 49758 568497 686 171 1 229 478 Stocks Owned 629600 650525 1 °40800 Materials, etc. . Current Accounts... 82,706 90739 108,366 75318 117,233 56873 116,744 Pi 071 209,717 1 001 7t>5 317.444 713918 231,099 989 438 Cash 147018 160000 147734 115630 165 468 244 611 204 963 Total Assets 10 243 282 10328453 10405885 10 601 197 15588452 16 013 592 17041 489 11. Capital Stock. — The company has authority from the Legislature of West Virginia to increase Its capital stock from time to time up to a total of $25,000,000 (see MANUAL for 1901, page 390). In Aug., 1901, the stockholders authorized the issuing of $5,000.000 new stock, $1,000,000 of which was placed at the disposal of the directors, to purchase the stock of the Piedmont and Cum- berland Ry. and of the Buxton and Landstreet Co., and for other purposes. The remaining $4,000,- 000 was reserved for other corporate purposes. 12. r imBChJneral Balance Sheet, June 30. 1902.— Capital stock ($100 shares). $80,000; subscrip- tion to bonds not yet issued, $36.000; bills payable. $7,132; current liabilities, $4,529; interest accrued, not due, $2,596 ; taxes accrued. $242 ; dividends unpaid, $750 — total, $131.24! Contn Cost of road and equipment. $123.815 ; materials, etc., $100 ; cash and current assets, $834 ; profit and loss, $6,500 — total, $131,249. Director* (elected Nov. 18, 1902).— C. L. Rlckerson, Brooklyn, N. Y. ; W. H. White, Jr., E. E Olcott New York, N. Y. ; W. D. Baldwin, Yonkers, N. Y. ; Isaac Pruyn, Orrin Day. Chas. A. Beach, Catskill. N. Y. OFFICERS : C. L. RICKKRSON, Prea., Brooklyn, N. Y. ; W. D. Baldwin, V\cc- Prea.. Yonkers, N. Y. ; Chas. A. Beach, Sec. d Treoa.; John L. Drlscoll, Supt., Catskill, N. Y. GENERAL OFFICE, Catskill, N. Y. CATSKILL MOUNTAIN BY.— Catskill to Palenville, N. Y.. 15.75 m. ; Cairo RR. (leased, see below) 3.77 m. — total, 19.52 m. ; sidings (owned, 1.31 m. ; leased, 0.55 m.), 1.86 miles. Rail (steel) 40* IDS. Gauge, 3 feet. Chartered, July 2, 1885, as successor to the Catskill Mountain RR. Co (See MANUAL for 1887.) Locomotives (owned, 3; leased, 1), 4. Cars — passenger, 12; bag- gage etc 4; freight (box, 3; flat. 5; coal, 5), 13; caboose, 1 — total. 30. Operations, year ending June 30, 1902. — Trains run (passenger, 29,942; freight, 9,950). 39,- 892 miles. Passengers carried. 53.943 ; carried one mile, 710,933. Tons freight moved, 25,771 : ton-miles. 355,107. Earnings (passenger, $37,335; freight, $10.665; other, $409), $48,409. Operating expenses, $35,034. Net earnings, $13,375 ; other receipts, $258 — total, $13,633. Pay- ments : Interest on bonds, $2,500; taxes, $1,604; rentals, $2,944; Catskill and Tannersville Ry. Co. under contract, $4,800 — total, $11,848. Surplus, $1.785 ; surplus forward, $57,928 — total, $59,713. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $89,000; funded debt (see below), $303,600 ; bills payable, $5,000 ; current liabilities, $5,073 ; interest accrued, $1,042 ; rental accrued, $1,657 ; profit and loss, $59,713 — total, $465,085. Contra : Cost of road and equip- ment, $450,790; materials, etc., $2,950; cash and current assets, $11,345 — total, $465,085. Ponded Debt. — Funded debt, June 30, 1902, consisted of $50,000 1st 5s of Aug. 1, 1905 ; $238,000 1st income 6s of Aug. 1, 1915, and $15,600 ($16,000 auth.) 2d income 6s of Aug. 2, 1915. RAILROAD LEASED BY CATSKILL MOUNTAIN RY. Co. General Balance Sheet, June 30, 1902. — Capital ptock ($23,000 auth.; $100 shares), $24,500; funded debt (1st 6s of May 1. 1905). $25,000; interest ac- crued, $250 ; sundries, $128 ; profit and loss, $349 — total. $50,227. Contra : Cost of property, $48,783 ; other assets. $1,444 — total, $50,227. Lewis Wolfe, Pres., Athens, N. Y. ; Wm. .T. Hughes, Sec. & Treas.. Catskill, N. Y. Corporate Office, Catskill, N. Y. Cairo RR. — Cairo to Cairo June., N. Y., 3.77 m. ; total track (steel; 40 Ibs), 4.02 miles. Gauge, 3 ft. Chartered April 10, 1884; opened July 1, 1885. Leased to the Catskill Mountain Ry. Co. Rental, 1901-2, $2,944. Payments : Interest on bonds, $1,500; dividends (6 p. c.), $1,470; expenses, $66 — total, $3,036. Deficit, $92; surplus forward, $441 ; net surplus $349. The company owns 1 loco- motive. Directors, C. M. Ry. Co. (as constituted Dec. 18, 1902). — E. E. Olcott, New York, N. Y. ; J. D. Hasbrouck. Ridgewood, N. J. ; C. L. Rickerson, Brooklyn, N. Y. ; T. B. Beach, Orrin Day, Isaac Pruyn, Fred Werner, G. H. Beach, Chas. Beach, W. I. Jennings, C. A. Beach, J. P. Philip, Catskill, N. Y. ; Lewis Wolfe, Athens, N. Y. OFFICERS: C. A. BEACH, Pres.; W. I. Jennings, Vice-Pres. ; Orrin Day, Treas. ; C. A. Beach, Sec. & Gen. Supt., Catskill, N. Y. GENERAL OFFICE, Catskill, N. Y. CENTRAL RR. CO. OF PENNSYLVANIA.— Ballefonte to Mill Hall, Pa., 27.3 m. ; branches, 5.3 m. — total, 32.6 miles. Gauge, 4 ft. 8f in. Rail (steel), 70 Ibs. Organized Sept. 11, 1891; completed as above during the fiscal year 1900. Projected from Lamar to White Deer, 35 mile*. Locomotives, 3. Cars — passenger, 6 ; freight, 9 ; other, 2 — total, 17. Operations, year ending June 30, 1902. — Trains run (passenger, 54,752; freight, 56,578), 111,330 miles. Passengers carried, 61,996; carried one mile, 640,860. Tons freight moved, 309,- 570; ton-miles, 5,158,772. Earnings (passenger, $12,660; freight, $66,518; other, $2,188), $81.366. Operating expenses, $53,247. Net earnings, $28,119 ; other receipts, $1,552 — total, $29.- 671. Payments : Interest on bonds, $36,000 ; other Interest, $16,542 ; taxes, $77 ; other charges, $345 — total, $52,964. Deficit, $23,293. General Balance Sheet. June 30, 1902. — Capital stock ($50 shares), $1,200,000; funded debt ( 1st 6s of May 1, 1943), $600,000 ; current liabilities, $514,674 ; real estate mortgages, $2,500 ; interest accrued, $6.000 — total, $2,323,174. Contra : Cost of road and equipment, $1,055,119 ; lands owned, $11,000; advanced to Construction Co., $828,643; cash and current assets, $70,832; profit and loss, $357,580 — total, $2,323,174. Directors. — Chas. M. Clement. Robert Valentine, Bellefonte, Pa. : Chas. W. Wilhelm, Reading, Pa. ; Wm. J. McHugh, Edward L. Welsh, Wm. McLaughlin, Alfred M. Gray, Philadelphia, Pa. OFFICERS: CHAS. M. CLEMENT, Prea., Bellefonte, Pa.; Edward L. Welch, Vice-Prea. ; Wm. J. Mc- Hugh, Treas. & Sec., Philadelphia, Pa. ; M. L. Altenderfer, And., Bellefonte, Pa. GENERAL OFFICE, 304 Walnut Street, Philadelphia, Pa. GHATEATJGAY RR.— Dannemora to Lyon Mountain, N. Y., 18.01 m. ; leased lines — Cha- teuagay Ry., 38.89 m. ; Saranac and Lake Placid RR., 9.93 m. ; Plattsburgh and Dannemora RR., Plattsburgh to Dannemora. N. Y.. 15.92 m. — total, 82.75 m. ; total track (steel; 46 to 65 Ibs.), 94.20 miles. Gauges, 3 ft. and 4 ft. 81 in. Chartered May 30, 1879. Road from Plattsburgh to Dannemora, built by the State, opened July 1, 1879 ; from Dannemora to Lyon Mountain, built by company, opened March 1, 1880. The State road is operated at a rental of $1 per annum, the com- pany to haul supplies to the State prison free of charge. For information respecting the other leased lines, see appended statements therefor. On Dec. 28, 1902, the line from Plattsburgh to Lyon Moun- tain, 34 miles, was broadened to the standard gauge. Locomotives, 18. Cars — passenger, 18 ; bag- POOR'S MANUAL OF RAILROADS. 173 gage, etc., 4; freight (box, 38; stock, 2; flat, 138; coal, 15), 193; other, 241 — total, 456. Of which leased — 2 locomotives, 3 passenger, and 6 box cars. Operations, year ending June 30, 1902. — Trains run (passenger, 116,204; freight, 204,789; mixed, 21,000), 341,993 miles. Passengers carried, 67,206; carried one mile, 1,604,938. Tons freight moved, 349,679; ton-miles, 7,634,442. Earnings (passenger, $57,414; freight, $189,031; other, $10,309), $256,754. Operating expenses, $218,959. Net earnings, $37,795; other receipts, $22 — total, $37,817. Payments : Taxes, $6,390 ; rentals, $25,301-.-total, $31,691. Surplus, $6,126. General Balance Sheet, June 30, 1902.- — Capital stock ($100 shares), $76,000; current lia- bilities, $50,825 ; inventory of road and equipment above capital stock, $432,583 ; profit and loss, $6,126 — total, $664,534. Contra : Cost of road and equipment, $607,583 ; other investments, $9,388 ; materials, etc., $27,223 ; cash and current assets, $20,340— -total, $564,533. RAILROADS LEASED BY CHATEAUGAY RR. Co. Chateaux-ay Ry. — Lyon Mountain to Sara- nac Lake, N. Y., 38.89 miles. Gauge, 3 ft. Rail (steel), 46 to 65 Ibs. Chartered April 2, 1886 ; opened throughout, Dec. 5, 1888. Leased to the Chateaugay RR. Co. ; rental, interest on bonds. Capital stock ($100 shares), $168,000; funded debt (1st 6s of Aug. 1, 1907), $200,000 — total, rep- resenting cost, $368,000. Bonds are guaranteed, principal and interest, by the Delaware and Hudson Co. Smith M. Weed, Pres. ; Geo. S. Weed, Sec., Plattsburgh, N. Y. ; Talbot Olyphant, Treas., New York, N. Y. Office, Plattsburgh, N. Y. Sarniiac and Lake Placid RR. — Saranac to Lake Placid, N. Y., 9.98 m. ; total track (steel ; 60 Ibs.), 10.83 miles. Gauges, 4 ft. 8i in. and 3 ft. Chartered July 12, 1890 ; road opened Aug. 1, 1893. Leased to the Chateaugay RR. Co. and Chateaugay Ore and Iron Co., jointly for 17 years from Jan. 1, 1897, at an annual rental of 35 p. c. of the gross receipts of the road, and one-half of the net profit of the transfer business at Lake Placid, N. Y. ; with a minimum guarantee of $7.200 per annum, being interest, at 5 p. c. on $120,000 1st mtge. bonds and $24,000 2d mtge. bonds. Locomotives, 2. Cars — passenger, 2 ; baggage, etc., 1 — total, 3. Income, year ending June 30, 1902. — Rental, $9,- 048. Payments : Interest on bonds, $7,200 ; charges, $2,001 — total, $9,201. Deficit, $153; deficit forward, $1,830 ; net deficit, $1,983. Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $250,000; funded debt, $144,000; loans and bills, $4,500— total, $398,500. Contra : Cost of road, etc., $357,372 ; securities of other companies, $24,500 ; open accounts, $14,645 ; profit and loss, $1,983 — total, $398,500. Funded debt on June 30, 1902, consisted of $120,000 1st gold 5s of May 1, 1913; and $24,000 2d gold 5s of Nov. 1, 1913. J. N. Stower, Pres., Plattsburgh, N. Y. ; Talbot Olyphant, Sec., New York, N. Y. Office, 31 Nas- sau St., New York, N. Y. Directors (C. RR. Co.).— Smith M. Weed, J. N. Stower, F. E. Smith, Plattsburgh, N. Y. OFFICERS: SMITH M. WEED, Pres.; Frank E. Smith, Vice-Pres., Plattsburgh, N. Y. ; Talbot Oly- phant, Treas., New York, N. Y. ; Geo. S. Weed, Sec.; I. N. Stower, Gen. JO.gr.; W. W. Conaughty, Gen. S-upt., Plattsburgh, N. Y. GENERAL OFFICE, Plattsburgh, N. Y. CHESAPEAKE BEACH BY. — Chesapeake June., D. C., to Chesapeake Beach, Md., 30 m. ; trackage (B. & O. RR.), Hyattsville to Chesapeake June., 4.2 m. — total operated, 34.2 miles. Sid- ings, etc., 5 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 to 85 Ibs. Chartered March 7, 1896, as suc- cessor to the Washington and Chesapeake Beach Ry. Co., whose franchises and partly completed road- bed were sold under foreclosure on Dec. 10, 1895. The road was built by the present company, being completed as above in 1899. An extension from the District line into Washington, D. C., 4 miles, Is under construction, and will be completed during 1903. Rolling Stock, June 30, 1902. — Locomotives, 4. Cars — passenger, 32 ; baggage, etc., 4 ; flat, 18 — total, 54. Of this equipment, 3 locomotives, 28 passenger cars, and 4 baggage cars are held under equipment trusts. Operations, year ending June 30, 1902. — Earnings (passenger, $42,414; freight, $6,857; other, $3,019), $52,290; other receipts, $544 — total, $52,834. Operating expenses and charges, $75,501. Deficit, $22,667. Financial Statement, Dec. 31, 1902. — Capital stock authorized and issued ($100 shares), $1,000,000 ; funded debt (1st gold 5s of Jan. 1, 1923), $1,000,000. Directors. — A. C. Ridgway, Denver, Colo. ; Fred. W. Moffat, F. D. McKenney, Paul Y. Waters, Washington, D. C. ; Syl. T. Smith, Chicago, 111. OFFICERS : SYL. T. SMITH, Pres., Chicago, 111. ; A. C. Ridgway, Vice-Pres., Denver, Colo.; Fred. W. Moffat, Treas.; Paul Y. Waters, Sec. & Gen. Mgr., Washington, D. C. GENERAL OFFICE, 1420 New York Ave., Washington, D. C. CHESTNUT RIDGE BY.— Kunkletown to Lehigh Gap, Pa., 10.4 m. ; total track, 10.84 miles. Gauge, 4 ft. 81 in. Rail (steel), 58 and 62 Ibs. Organized March 13, 1898, as Chestnut Ridge RR. Co. of Pennsylvania. Road opened in January, 1900. Sold under foreclosure Dec. 30. 1901, and reorganized under its present title on Feb. 27, 1902. Locomotives, 2. Cars — passenger, 2; freight (box, 2; flat, 2 ; dump, 6), 10 — total, 12. Operations, year ending Dec. 31, 1902. — Earnings (passenger, $911; freight, $4,528; other, $200), $5,639. Operating expenses, $5,597. Net earnings, $42; other receipts, $85 — total, $127. General Balance Sheet, Dec. 31, 1902. — Capital stock ($50 shares), $110,000; funded debt (1st 6s of March 1, 1905), $40,000; current liabilities, $1,136; other liabilities, $466 — total, $151,602. Contra: Cost of road and equipment, $130,808; other investments, $9,226; materials, etc., $175; cash and current assets, $1,167; other assets, $10,011; profit and loss, $215 — total, $151.602. Directors (elected May 19, 1903). — James G. Beemer, E. S. Sutro, H. B. Culver, Chas. H. Ber- nard, New York, N. Y. ; W. B. Easton, East Stroudsburg, Pa. ; N. B. Dreher, A. M. Palmer, Strouds- burg, Pa. OFFICERS : A. MITCHELL PALMER, Pres., Stroudsburg, Pa. ; James G. Beemer, Vice- Pres.; G. H. L. Morton, Sec. & Treas., New York, N. Y. GENERAL OFFICE, 121 W. 42d Street, New York, N. Y. CLEABFIELD SOUTHEBN BB. — Projected : Porters to Irvona, Pa., 25 m. ; branches, 6 m. — total, 31 miles. Completed up to June 30, 1902 : Porters to Hoovers Mill. Pa., 14.6 m. ; total track (steel; 67 Ibs.), 15.6 miles. Gauge, 4 ft. 8J in. Chartered July 6, 1898; road opened in 1899. Between Porters and Faunce, 7 miles, the road is operated regularly ; trains are run between Faunce and Hoover's Mill only on special orders. Owns 1 locomotive and 1 combination car. Operations, year ending June 30, 1902. — Trains run (mixed), 13,387 miles. Passengers car- ried, 3,598 ; carried one mile, 18,966. Tons freight moved, 18,490 ; ton-miles, 40,561. Earnings (passenger, $1,004; freight, $14,328), $15,332. Operating expenses, $8,424. Net earnings, $6,908. Deductions, $6,165. Surplus, $743. 174 POOR'S MANUAL OP RAILROADS MIDDLE, ATLANTIC GROUP. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares). $168,000; funded debt (1st 5* of March 1, 1930). $168.000; current liabilities, $3,184; profit and loss, $2,932- total, $342 116. Contra: Cost of read and equipment, $336,000 ; cash and current assets, $1,603 ; material*, etc., $4,513— total, $342.116. Directors.— James Kerr, H. B. Powell, Clearfleld, Pa. ; H. H. Brady, Clarence D. Simpson, Scranton, Pa. ; Benjamin S. Harmon, Albert B. Kerr, New York, N. Y. ; A. E. Patton, Curwensville. Pa. OFFICKRS : JAMES KKRR, Pre*., Clearfleld, Pa. ; Clarence D. Simpson, Vice-Pres., Scranton, Pa. : A. B. Kerr, Sec., New York, N. Y. ; A. E. Patton, Treaa., Curwensville, Pa. ; O. C. Shults, Supt., Clearfleld, Pa. GENERAL OFFICE, Clearfleld, Pa. CONNECTING TERMINAL BB. -In Buffalo. N. Y., 1 mile. Rail (steel), 60 IDS. Gauge, 4 ft. 8J in. Chartered June 7, 1881 ; road opened In 1883. Built to supply terminal facilities for through lines of railway. Operations, year ending June 30, 1902. — Tons freight moved, 356,315 ; ton-miles, 356,315. Karnings (freight), $104,883. Operating expenses, $69,224. Net earnings, $35,659. Payments: Interest on bonds, $25,000; taxes, $10,659 — total, $35,659. Deficit forward, $1,424. Deductions during the year, $16,602 — total deficit. $18,026. General Balance Sheet, June 30r 1902. — Capital stock ($50 shares), $20,000; funded debt (1st 5s of May 1, 1923), $500,000; loans, bills payable, etc., $250,344 — total, $770,344. Contra: Cost of road and equipment, $505,938 ; current accounts, $241,495 ; cash, $4,885 ; profit and loss, $18,026 — total, $770,344. Funded. Debt. — The 1st mtge. bonds, originally 6s, matured May 1, 1903, and were ex- tended for 20 years, the rate of interest being reduced to 5 p. c. per annum. Directors ( elected May 20, 1902). — James C. Evans, Edwin T. Evans, Buffalo, N. Y. ; Win. J. Boddy, Geo. B. Bonnell, John E. Payne, Frank J. Firth, Wm. H. Barnes, Frank Staley, P. R. Perkins, S. F. Houston, John P. Green, S. M. Prevost, Walter Thayer, Philadelphia,Pa. OFFICERS : FRANK J. FIRTH, Pres., Philadelphia, Pa. ; Edwin T. Evans, Vice-Pres., Buffalo, N. Y. ; Frank Staley, Sec.; P. R. Perkins, Treas., Philadelphia, Pa. GENERAL OFFICE, 26 South Fifteenth St., Philadelphia, Pa. CORNWALL. BB. — Lebanon to Mount Hope, Pa., 12.67 m. ; 2d track, 3 m. ; sidings, 12.71 m. — total track (steel, 21.39 m.), 28.38 miles. Rail, 60 and 70 Ibs. Gauge, 4 ft. 8J in. Chartered May 25, 1850; road opened Jan., 1854. (See MANUAL for 1893.) Locomotives, 5. Cars — passen- ger, 9; freight (flat), 27 — total cars, 36. Operations, year ending June 30, 1902. — Trains run (passenger, 49,371; freight, 18,777), 68,148 miles. Passengers carried, 117,600; carried one mile, 819,819. Tons freight moved, 812,- 907; ton-miles, 4,227,458. Earnings (passenger, $17,391 ; freight, $89,114 ; other, $5,498), $112,- 003. Operating expenses, $61,484. Net earnings, $50,519 ; other receipts, $2,220 — total, $52,739. Payments: Taxes, $4,161; dividends (8 p. c.), $31,882 — total, $36,043. Surplus, $16,696; sur- plus forward, $585,628 — total, $602,324. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $400,000; profit and loss, $602,324 — total, $1,002,324. Contra : Cost of road and equipment, $874,218 ; securities owned, $50,625 ; other investments, $1,341 ; lands owned, $45,020 ; cash and current assets, $31,120 — total, $1,002,324. Directors (elected Jan. 12, 1903). — B. H. Buckingham, Cornwall, Pa.; Walter Scranton, Moses Taylor, New York, N. Y. ; A. M. Patch, Howard C. Shirk, Lebanon, Pa. OFFICERS : B. H. BUCKINGHAM, Pres., Lebanon, Pa. ; Walter Scranton, Vice-Pres., New York, N. Y. ; Howard C. Shirk, Sec.; A. M. Patch, Treas. & Supt., Lebanon, Pa. GENERAL OFFICE, Lebanon, Pa. CORNWALL AND LEBANON BB. — Conewago to Lebanon, Pa., 21.66 m. ; Cornwall to Ore Banks, 1.17 m. ; Lebanon to North Lebanon, 0.34 m. ; Lebanon to East Lebanon, 1.72 m. ; June. Lake Conewago Branch to Lake Conewago, 1.36 m. — total, 26.25 m. ; 2d track, 15.36 m. — total track (steel; 60 to 85 Ibs.), 51.73 miles. Gauge, 4 ft. 83 in. Consolidation, June 1, 1886. of the C. & L. and the Colebrook Vy. RR. Cos. Locomotives, 11. Cars — passenger, 16 ; baggage etc., 1; freight (flat, 16; coal, 500), 516; service, 8 — total, 541. Operations, year ending June 30, 1902. — Trains run (passenger, 66,995; freight, 98,121; other, 120,411), 285,527 miles. Passengers carried, 163,698; carried one mile, 1,775.664. Tons freight moved, 1,356,854; ton-miles, 19,002,383. Earnings (passenger, $31,245; freight, $250,- 556; other, $51,142), $332,943. Operating expenses, $177,105. Net earnings, $155,838. Pay- ments: Interest on bonds, $38,320; taxes, $11,000; dividends (6 p. c.), $48,000 — total, $97,320. Surplus, $58,518 ; surplus forward, $277,638 — total, $336,156. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $800,000; funded debt (see below), $766,400; current liabilities. $3,112; interest accrued, not due, $9,580; profit and loss, $336,156 — total, $1,915,248. Contra : Cost of road and equipment, $1,746,714 ; materials, etc., $4,190; cash and current assets, $164,344 — total, $1,915,248. Funded Debt. — Funded debt, June 30, 1902, consisted of $764,900 ($800,000 auth.) 1st 5s of April 1, 1921, subject to call on and after April 1, 1906, at par; and $1,500 ($60,000 auth.) 1st Lebanon Belt 5s of July 1, 1914, subject to call on and after July 1, 1904, at par. Directors (elected Jan. 12, 1903). — B. Dawson Coleman, Edward R. Coleman, J. P. S. Gobin, Lebanon, Pa. ; E. C Felton, Philadelphia, Pa. ; Walter Scranton, New York, N. Y. ; Theo. N. Ely, Bryn Mawr, Pa. ; F. C. Smink, Reading, Pa. ; Herbert B. Cox, B. H. Buckingham, Cornwall, Pa. OFFICERS : ALLEN D. SMITH, Pres. & Gen. Supt., Lebanon, Pa. ; E. C. Felton, Vice-Pres., Philadel- phia, Pa.; B. Dawson Coleman, Sec.; Henry W. Siegrist, Treas., Lebanon, Pa. GENERAL OFFICE. Lebanon, Pa. COTTDEBSPORT AND POBT ALLEGANY BB.— Port Allegany to Ulysses, Pa., 40 m. ; Coudersport to Sweden Valley, Pa.. 5 m. — total, 45 m. ; total track (steel ; 60 and 65 Ibs.), 53 miles. Gauge, 4 ft. 81 In. Consolidation, Jan. 1, 1896, of the (first) C. & P. A. RR. Co. with the Coudersport and Pine Creek RR. Co. Locomotives, 3. Cars — passenger, 4 ; baggage, 1 ; freight (box, 4; flat, 51), 55; plow, 1 — total, 61. Operations, year ending June 30, 1902. — Trains run (passenger, 50,400 ; freight, 25,200), 75,- 600 mlle«. Passengers carried, 59,462 ; carried one mile, 872,246. Tons freight moved, 168,509 ; ton-miles, 4,316,996. Earnings (passenger, $25,710; freight, $82,775; other, $4,570), $113,055. Operating expenses, $62,251. Net earnings, $50,804. Payments: Interest on bonds, $12,250; taxes, $2,237; dividends (12 p. c.), $36,000 — total, $50,487. Surplus, $317; surplus forward, $24,428— total, $24,745. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $300,000; funded POOR'S MANUAL OF RAILROADS. 175 debt (1st 5s of June 15, 1916), $245,000; profit and loss, $24,745 — total, $569,745. Contra: Cost of road and equipment, $553,871 ; cash and current assets, $15,874 — total, $569,745. Directors. — C. S. Carey, F. N. Blakeslee, Clean, N. Y. ; B. D. Hanilin, H. Hamlin, Smethport. Pa. ; A. G. Olmsted, B. A. McClure, H. J. Olmsted, R. L. Nichols, Coudersport, Pa. OFFICERS : JAMES L. KNOX, Pres., Coudersport, Pa. ; C. S. Carey, Vice-Pres., Olean, N. Y. ; M. S. Thompson, Treaa. ; A. B. Mann, Sec.; B. A. McClure, Gen. Supt., Coudersport, Pa. GENERAL OFFICE, Coudersport, Pa. DANSVILLE AND MOUNT MORRIS RR.— Dansville to Mount Morris, N. Y., and branches (Incl. 2.35 m. leased), 14.63 m. — total track (steel; 60 and 65 Ibs.), 16.38 miles. Gauge, 4 ft. 8J in. Chartered Oct. 21, 1891, as successor to the Erie and Genesee Valley RR. Co. Default was made on Interest due May 1, 1894, and a receiver appointed in June, 1894. Locomotives, 2. Steam motor car, 1. Operations, year ending June 30, 1902. — Trains run (mixed),' 19,292 miles. Passengers carried, 24,086 ; carried one mile, 256,502. Tons freight moved, 28,983 ; ton-miles, 300,839. Earnings (passenger, $7,811; freight, $12,453; other, $1,194), $21,458. Operating expenses, $17,252. Net earnings, $4,206. Paid taxes, $967. Surplus, $3,239. Deficit forward, $34,552. Net deficit June 30, 1902, $31,313. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; funded debt ( 1st 5s of Nov. 1, 1931), $150,000 ; loans and bills payable, $34,673 ; receivers' certificates, $8,584 : other liabilities, $9 — total, $243,266. Contra : Cost of road and equipment, $206,900 ; improve- ment account, $4,000 ; suspense account, $508 ; cash and current assets, $545 ; profit and loss, $31,313 — total, $243,266. Directors.— Ambrose S. Murray, Jr., Geo. Freifeld, E. P. Roberts, New York, N. Y. ; Palmer Campbell, Hoboken, N. J. ; C. E. Tolhurst, Rutherford, N. J. ; F. M. Ferine, A. O. Bunnell, Dans- ville, N. Y. ; Robert H. England, Rochester, N. Y. ; Bird W. Spencer, Passaic, N. J. OFFICERS : AMBROSE S. MURRAY, Jr., Receiver & Sec., 22 William St., New York, N. Y. ; Robt. H. England, Gen. Mgr., Rochester, N. Y. GENERAL OFFICE, 22 William St., New York, N. Y., and Dansville, N. Y. DELAWARE VALLEY RR. — Projected : Saylorsburg, Pa., to Port Jervis, N. Y., 52 miles. Completed up to July, 1902; East Stroudsburg to Bushkill, Pa., 12.91 m. ; total track (steel; 80 Ibs.), 13.35 miles. Gauge, 4 ft. 8J in. Organized Oct. 26, 1899, and succeeded to the rights, etc., of the Delaware Valley Ry. Co. and of the Delaware Valley, Hudson and Lehigh RR. Co. Road opened as above In July, 1901. Locomotives, 1. Cars (passenger, 2; baggage, etc., 1), 3. Operations, year ending June 30, 1902. — Trains run (passenger, 23,706; mixed, 6,254), 29,960 miles. Passengers carried. 19,137. Tons freight moved, 8,050. Earnings (passenger, $4,638; freight, $3,167), $7,805. Operating expenses, $8,634 ; sundry charges, $15 — total, $8,649. Deficit from operation, $844. General Balance Sheet, June 30, 1902. — Capital stock ($1,000,000 auth. ; $50 shares), $252,500; funded debt ( 1st 5s of Jan., 1932), $190,000 ; current liabilities, $2,391 ; profit and loss, $844 — total, $445,735. Contra : Cost of road and equipment, $175,000 ; cash and current assets, $1,490 ; profit and loss, $269,345 — total, $445,735. Directors (elected Sept. 1, 1902). — F. W. Coolbaugh, James Zearfass, Easton, Pa.; Milton Yetter, East Stroudsburg, Pa. ; F. W. Eilenbergen, North Water Gap, Pa. ; Harvey Huffman, V. C. Peters, J. H. Schull, Stroudsburg, Pa. ; Charles Shuman, Bath, Pa. ; William Bray, East Bangor, Pa. ; E. F. Peters, Bushkill, Pa. ; A. O. Allen, Portland, Pa. OFFICERS : MILTON YETTER, Pres., East Stroudsburg, Pa. ; E. F. Peters, Vice-Pres., Bushkill, Pa. ; Win. Bray, Treas., East Bangor, Pa. ; Harvey Huffman, Sec. ; J. H. Schull, Counsel, Stroudsburg, Pa. GENERAL OFFICE, Strouds- burg, Pa. EAST BROAD TOP RR. AND COAL. — Mount Union to Woodvale, Pa., 31.10 m. ; Shade Gap RR. (leased; see below), 11.16 m. ; Booher Branch (operated), Jordan June, to Booher Mine, 2.36 m. — total operated, 44.62 miles. Sidings (leased, 1.38 m.), 9.40 miles. Gauge, 3 ft. Rail (steel), 40, 45, 60 and 70 Ibs. Chartered April 16, 1856; road opened Oct. 15, 1874. Locomotives, 9 cars — passenger, 13; freight (box, 19; stock, 4; flat, 52; coal, 204), 279; other, 9 — total cars, 301. Operations, year ending June 30, 1902. — Trains run (mixed, 106,430 ; other, 46,035), 152,465 miles Passengers carried, 99,290 ; carried one mile, 1,159,126. Tons freight moved, 245,002 ; ton-miles, 6,704,393. Earnings (passenger, $19,150; freight, $80,321; other, $2,708), $102,179. Operating expenses, $85,201. Net earnings, $16,978 ; other receipts, $2,111 — total, $19,089. Pay- ments • Interest on bonds, $20,000 ; taxes, $1,356 ; rentals, $880 ; other charges, $2,544 — total, $24 780 Deficit, $5,691 ; deficit forward, $258,021 — total, $263,712. General Balance Sheet, June 30, 1902. — Capital stock paid In (common, $568,400; pre- ferred, $246,750; preferred stock scrip, $439), $815,589; funded debt, $542,400; current liabili- ties, $365,808 — total, $1,723,797. Contra : Cost of road and equipment, $1,131,257 ; securities owned, $91,585 ; materials, etc., $14,370 ; cash and current assets, $222,873 ; profit and loss, $263,712 — total, $1,723,797. Capital Stock. —Capital stock authorized amounts to $1,000,000 In $50 shares. Preferred stock is entitled to non-cumulative dividends up to 6 p. c. before common can participate. Funded Debt.— Funded debt outstanding on June 30, 1902, consisted of $500,000 1st 4s of July 1, 1903, and $42,400 ($42,600 auth.) 6 p. c. equipment note. RAILROAD LEASED BY BAST BROAD TOP RR. Co. A. & O.), $92,500 — total, $185,100. Interest pay- able at company's office. E. R. Wood, Pres. ; C. R. Wood, Sec. & Treas. OfPce, 400 Chestnut St., Philadelphia, Pa. Shade Gap RR. — Rockhill to Nancy, Pa., 11.16 m. ; total track (steel, 40 Ibs.), 11.18 miles. Gauge, 3 ft. Road opened in 1885 and leased to East Broad Top RR. Co. Capital stock, $92,600; funded debt (1st 6s, Int. Directors, E. B. T. RR. & Coal Co. (elected Jan. 12, 1903). — Wm. A. Ingham (Chairman), Edward R. Wood, Geo. Theo. Roberts, Herbert M. Howe, William Longstreth, Walter Wood, Edward Roberts, 3d, Philadelphia, Pa. ; John Markle," Jeddo, Pa. ; J. M. Drlesbach, Mauch Chunk, Pa. OFFICERS : WALTER WOOD, Pres. ; J. E. Haverstick, Sec. & Treas., Philadelphia, Pa. GENERAL OFFICE, 320 Walnut St., Philadelphia, Pa. EDDYSTONE AND DELAWARE RIVER RR.-Eddystone Mfg. Co. to main line of P., W. & B. RR., 1.5 miles. Gauge, 4 ft. 8J In. Rail (steel), 60 and 90 Ibs. Chartered June 12, 1899 ; road opened in Dec., 1899. Extensions of about 10 miles are projected. Locomotive, 1 ; freight (flat) car, 1. 176 POOR'S MANUAL or RAILROADS— MIDDLE ATLANTIC GROUP. Operations, year ending June 30. 1902.— Earnings (freight), $11,348. Operating expenses, $4>8&neralla\ance$She°e\, June 30. 1902.-Capltal stock ($60,000 auth. ; $50 shares) $32,- 500 ; current liabilities T $25 . profit and loss, $6,005-total. $37,630 Contra : Cost of road and equipment. $30,079 ; other investments, $501 ; cash and current assets $6.950-^ total . W7.530. Directors (elected Nov. 20, 1902). —Lincoln Godfrey, Henry 8. Godfrey, A. C. Pancoast. W. P. Simpson. Philadelphia. Pa.; John U. Fraley. New York. N. Y. OFFICERS : : LINCOLN GODFREY Pres; \V 1> sm.pson Vicr-/'rc«. A Treat.; Henry S. Godfrey, .Sec. ; W. P. Anthony, Gen. Mgr., Philadel- phia. Pa. GKNEKAI. OKU. K. 128 Chestnut Street, Philadelphia, Pa. ELK AND HIGHLAND RR.— Coon Run to Mlddletown, Pa., 10.81 m. ; Switchback to Kane and Klk June.. 0.50 in. ; P. & W. RR. at Nansen, 0.50 m. ; Maple Run to Rogers Mill, 1.91 m Maple Run to Pigeon Run, 1.54 m.— total, 15.26 m. ; total track, 17.22 miles. Gauge 3 ft. Rail 30 Ibs Chartered April 4. 1898, and first section of road opened in the same month. Loco- motives. 3. Cars — combination,!; freight ( flat, 44 ; box, 2), 46 — total, 47. Operations, year ending June 30, 1902.— Trains run (freight), 18,849 miles. Tons freight moved ' ,325; ton-miles, 291,517. Earnings (freight), $24,216. Operating expenses, $21,932. Net earnings, $2,284. Deductions, $594. Surplus, $1,690; surplus forward, $16,903 — total, $18,593. General Balance Sheet, June 30, 1902. — Capital stock ($102.000 auth.; $50 shares), $51,- 000; funded debt (particulars not furnished), $17,000 ; accrued interest, $170 ; current liabilities, $7.576 ; profit and loss, $18,593 — total, $94.339. Contra : Cost of road and equipment, $67,367 ; cash and current assets, $26,972 — total, $94,339. Directors.— D. H. Miller, J. B. Wright, A. P. Huey, C. H. Kemp, T. R. Hoskins. Kane, Pa.: J. W Miller, B. E. Miller, Nansen, Pa. ; J. H. Mott, Warren, Pa. OFFICERS : D. H. MILLER, Pres. ; J. B Wright. Treas.; J. W. Miller, Sec. d Aud.; B. B. Miller, Gen. 8upt., Nansen, Pa. GENERAL OFFICE, Kane, Pa. EMPORIUM AND RICH VALLEY RR. —Emporium to Elk Forks, Pa., 8 m. ; branches and spurs, 5.5 m. — total, 13.5 miles. Rail (steel), 60 Ibs. Gauge, 4 ft. 81 in. Chartered Feb. 16, 1891 ; main line opened July 1, 1892 ; Lewis Run Branch, in July, 1898. Locomotives, 2. Cars — passenger, 1 ; flat, 16 ; log, 40 — total, 57. Operations, year ending June 30, 1902. — Trains run (mixed), 8,400 miles. Passengers carried, 1,702 ; carried one mile, 11,501. Tons freight moved, 75,639 ; ton-miles, 1,021,126. Earnings (passenger, $532; freight, $26,885), $27,417. Operating expenses, $20,869. Net earnings, $6,548. Deductions, $131. Surplus, $6,417 ; surplus forward, $38,489 — total, $44,906. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth. ; $100 shares), $85,- 000 ; current liabilities, $8,340 ; profit and loss, $44,906 — total, $138,246. Contra : Cost of road and equipment, $132,013 ; cash and current assets, $6,233 — total, $138,246. Directors (elected Jan. 27, 1903). — Henry Auchu, Joseph Kaye, George A. Walker, Josiah Howard, B. W. Green, Mrs. Josiah Howard, J. D. Logan, Emporium, Pa. OFFICERS : HENRY AUCHU, Pres.; Geo. A. Walker, Vice-Pres.; W. H. Howard, Treas. ; B. W. Green, Sec.; Josiah Howard, Aud., Emporium, Pa. GENERAL OFFICE, Emporium, Pa. ERIE AND CENTRAL, NEW YORK RR.— Cortland to Cincinnatus, N. Y., 18.14 m. ; total track (steel; 56 Ibs.), 20.14 miles. Gauge, 4 ft. 81 in. Chartered May 26, 1902, as suc- cessor to the Erie and Central New York Ry. Co., whose property was sold under foreclosure on March 29, 1902 (see MANUAL for 1901, page 175). The company uses 0.7 mile of the Lehigh Valley RR., from Cortland Junction to Cortland, making a total of 18.84 miles operated. Locomotives, 3. Cars — baggage, etc., 2; freight (flat), 6 — total, 8. Operations, 9 months ending Dec. 31, 1902. — Trains run (passenger, 10,650 ; freight, 7,968 ; other, 8,820), 27,438 miles. Passengers carried, 15,643; carried one mile, 226,476. Tons freight moved, 13,999; ton-miles, 209,871. Earnings (passenger, $6,501; freight, $11,895; other, $6,695), $25,091. Operating expenses, $34,099. Deficit, $9,008; less other receipts, $126; net deficit, $8,882. Charges : Interest on bonds, $8,333 ; taxes, $514 — total, $8,847. Deficit for nine months, $17,729. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $250,000; funded debt (1st 5s of May 1, 1922), $250,000; current liabilities, $12,559; interest accrued, $8,333; ad- vances by bondholders, $4,475 — total, $525,367. Contra : Cost of road and equipment, $500,000 ; materials, etc., $2,446; cash and current assets, $5,192; profit and loss, $17,729 — total, $525,367. Directors (elected Jan. 12, 1903). — W. W. Montgomery, Leonidas Dennis, S. J. O'Sullivan, W. C. Schryver, G. T. Sinclair, Thos. J. McGuire, James P. Wright, Wm. H. Conroy, C. W. Young, New York. N. Y. ; Chas. O. Scull, Baltimore, Md. ; W. D. Tisdale, Irving N. Palmer, L. N. Frederick, Cortland, N. Y. OFFICERS : WM. M. MONTGOMERY, Pres., New York, N. Y. ; Lawrence N. Frederick, Vice-Pres. & Gen. Mgr., Cortland, N. Y. ; S. J. O'Sullivan, Sec. & Treas., New York, N. Y. GENERAI OFFICE, Cortland, N. Y. Transfer Office, 140 Broadway, New York, N. Y. FONDA, JOHNSTOWN AND GLOVERSVILUE RR. (as constituted June 30, 1902). — Fonda to Northville, N. Y., 26.17 ra. ; leased lines (Gloversville and Broadalbin RR., 6.2 m. ; Cayadutta Electric RR., 14.5 m. ; Johnstown, Gloversville and Kingsboro' Horse RR., 4.23 m.), 24.93 m. — total operated, 51.10 miles. Sidings (owned, 5.22 m. ; leased, 0.4 m.) 5.62 miles. Gauge, 4 ft. 81 in. Rail (steel — owned, 26.17 m. ; leased, 24.93 m.), 70 Ibs. Consol., Jan. 22, 1881, of the F., J. & G. and the Gloversville and Northville RR. Cos. (see MANUAL for 1891, page 213). The Johnstown, Gloversville and Kingsboro' Horse (electric) and the Cayadutta Electric RRs. were leased to this company for 999 years, the former on Jan. 1, 1894, and the latter on May 1, 1894. They are known as the " Electric Division " of this railroad. Their earnings and expenses are in- cluded in this statement. The lessee assumed the $50,000 6 p. c. bonds of the Johnstown, Glovers- ville and Kingsboro' Horse RR. Co., besides guaranteeing dividends at the rate of 8 p. c. per annum on its capital stock. The lessee also guaranteed the principal and interest of the $350,000 Caya- dutta Electric RR. Co. 6 p. c. bonds, paying to the lessor its net earnings after payment of guaranteed interest charges. The company owned practically all of the capital stock and $200,000 1st consol. mtge. refunding bonds of the C. E. RR. Co., and owned the entire capital stock, $105,000, of the Coal Co. of Fulton County. The company also owned a majority of the capital stock of the Amsterdam Street RR. Co. On Dec. 23, 1902, the Fonda. Johnstown and Gloversville RR. Co., the Cayadutta Electric RR. Co., and the Amsterdam Street RR. Co. were consolidated under the name of the first. A statement for the consolidated company will be published in a subsequent section of the MANUAL If the company supplies the necessary data In time. Locomotives, 9. Cars — passenger (26 leased), 40; baggage, etc. (1 leased), 4; freight (flat), 10; caboose, 1; service (2 leased), 5 — total, 60. POOR'S MANUAL OF RAILROADS. 177 Operations, year ending June 30, 1902. — Trains run (passenger, 378,060; freight, 23,760; other, 8,200), 410,020 miles. Passengers carried, 1,406,160; carried one mile, 11,259,780. Tons freight moved, 185,230; ton-miles, 1,833,799. Earnings (passenger, $176,591; freight, $163,954; other, $12,196), $352,741. Operating expenses, $243,540. Net earnings, $109,201; other receipts, $59,203 — total, $168,404. Payments: Interest on bonds, $50,500; other interest, $8,203; taxes, $17,785; rentals (C. E. RR., $30,833; J. G. & K. H. RR., $7,100; G. & B. RR., $1,500), $39,433; dividends (8 p. c.), $48,000 — total, $163,921. Surplus, $4,483; surplus forward, $253,486 — total, $257,969. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $600,000; funded debt (see below), $1,100,000; lo.ins and bills payable, $72,500; Interest and rentals accrued. $9,592; audited vouchers and pay rolls, $73,412 ; open accounts, $150,272 ; profit and loss, $257,969 — total, $2,263,746. Contra : Cost of road and equipment, $1,022,080 ; real estate, $176,548 ; securities owned, $726,155 ; new construction, $114,152 ; special equipment, $55,689 ; cash and current assets, $169,120 — total, $2,263,745. Funded Debt.— Funded debt, June 30, 1902, consisted of $200,000 consol. 6s of April 1, 1921, $500,000 ($700,000 auth.) 1st consol. 4Js of July 1, 1947, and $400,000 ($1,500,000 auth.) gen. refunding gold 4s of July 1, 1950. RAILKOAD LEASED BY P., J. & G. RR. Co, Gloversvtlle and Broadalbin RR. — Broadalbin June, to Broadalbin, N. Y., 6.2 miles. Rail (steel), 60 Ibs. Gauge, 4 ft. 8i In. Chartered April 17, 1895 ; road opened Nov. 15. 1895. Leased to the F., J. & G. RR. Co. for 999 years, from Aug. 1, 1895, at an annual rental of $1, the lessee assuming all obligations and guar- mtge. bonds described below. Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $60,000; funded debt (1st gold 6s of Aug. 1, 1925), $30,000— total, representing cost, $90,000. J. H. Richardson, Pres. ; Frank Burton, Sec. Office, Gloversville, N. Y. anteeing principal and interest of the $30,000 1st Directors, F., J. & G. RR. (elected Jan. 14, 1903. — J. Ledlie Hees, Fonda, N. Y. ; G. Levor, Geo. M. Place, S. H. Shotwell, Erastus Darling, Z. B. Whitney, A. J. Zlmmer, Gloversville, N. Y. ; R. T. McKeever, Houghton, Mich. ; Chauncey M. Depew, George F. Moore, New York, N. Y. ; John G. Ferres, Jas. I. Younglove, James Stewart, Johnstown, N. Y. ; J. S. Friedman, Albany, N. Y. ; Wm. Harris, Northville, N. Y. OFFICERS : J. LEDLIE HEES, Pres. & Gen. Mgr. ; Geo. M. Place, Sec. & Treas. ; Lyman K. Brown, Aud., Gloversville, N. Y. GENERAL OFFICE, Gloversville, N. Y. GENESEE AND WYOMING- RR.— Retsof, N. Y., to Pittsburgh and Lehigh Junction, 10.66 m. ; Retsof Junction to Greigsville, N. Y., 3.73 m. ; Retsof Yards to Retsof Mines, N. Y., 1.77 m. — total, 16.16 m. ; total track (steel; 67 Ibs.), 18.01 miles. Gauge, 4 ft. 8J in. Chartered March 25, 1899, as successor to the Genesee and Wyoming Valley Ry. Co. (See MANUAL for 1899, page 223). The road is projected to extend from Perry to Caledonia, N. Y., 20.71 miles. Locomotives, 3. Cars (passenger), 2. Operations, year ending June 30, 1902. — Trains run (passenger, 4,830; freight, 12,414; mixed, 4,936), 22,180 miles. Passengers carried, 1,850; carried one mile, 14,310. Tons freight moved, 347,714; ton-miles, 3,477,140. Earnings (passenger, $477; freight, $126,778; other, $52), $127,307. Operating expenses, $56,256. Net earnings, $71,051. Payments: Interest on bonds, $25,000; on floating debt, $1,340; taxes, $2,210; dividends (5 p. c.), $25,000 — total, $53,550. Surplus, $17,501 ; deficit forward, $3,638 ; net surplus, $13,863. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $500,000; funded debt (1st 5s of April 1, 1929), $500,000; current liabilities, $15,769; interest accrued, $6,250; profit and loss, $13,863 — total, $1,035,882. Contra: Cost of road and equipment, $1,020,091; cash and current assets, $15,791 — total, $1,035,882. Directors (elected April 8, 1902). — Milo M. Belding, Mllo M. Belding, Jr., Wm. B. Putney, Ed- monds Putney, New York, N. Y. ; J. N. Smith, Lynn, Mass. ; M. B. Fuller, E. L. Fuller, Scranton, Pa.; H. D. Fuller, Bayonne, N. J. ; D. Hyman, Rochester, N. Y. ; Joy Morton, Chicago, 111. OFFI- CERS : E. L. FULLER, Pres., Scranton, Pa. ; Milo M. Belding, Jr., Vice-Pres.; H. D. Fuller, Sec., New York, N. Y. ; M. B. Fuller, Treas., Scranton, Pa.; David Hyman, Gen. Mgr.; H. C. Finch, Aud., Retsof, N. Y. GENERAL OFFICE, Retsof, N. Y. New York Office, 170 Broadway. GEORGES CREEK AND CUMBERLAND RR. — June. W. Va. C. Ry., Cumberland to New Detmold Mine, Lonaconing, Md., 21.42 m. ; Midland to Jackson Mine, 4.85 m. ; G. C. June, to Pa. State Line, 4.56 m. ; Lonaconing to Koontz Mine, 0.91 m. ; City June, to June. B. & O. RR., 0.85 m. — total, 32.59 m. ; total track (steel ; 67 and 70 Ibs.), 44.57 miles. Gauge, 4 ft. 9 in. Char- tered Dec. 21, 1876 ; road opened May 31, 1881 ; consol. with Pa. RR. in Md., June 16, 1888. Locomotives, 10. Cars — passenger, 4; freight (box, 2; flat, 5; coal, 1,093), 1,100; other, 3 — total, 1,107. Operations, year ending June 30, 1902.— Earnings (passenger, $10,267; freight, $318,775; other, $54,921), $383,963. Operating expenses, $149,918. Net earnings, $234,045; other receipts, $2,867 — total, $236,912. Deductions: First charges, $42,945; dividends (10 p. c.), $100,000 — total, $142,945. Surplus, $93,967. Financial Statement, June 30, 1902. — Capital stock ($50 shares), $1,000,000. Funded debt outstanding ($536,000 1st 6s of Oct. 1, 1909, and $65,000 2d mtge. loan, due Feb. 1, 1908), $601,- 000. The 2d mortgage loan was assumed from the Pa. RR. in Md. and is not represented by bonds. Directors (elected June 12, 1902). — Sidny Wintringham, James A. Alexander, John E. Knapp, Charles L. F. Robinson, J. A. Millholland, Wm. De L. Walbridge, New York, N. Y. ; Joseph E. Gay, Jaffrey, N. H. OFFICERS : JAMES A. MILLHOLLAND, Pres. <€• Gen. Mf/r., Cumberland, Md. ; Sidny Wintringham, Vice-Pres.; Wm. De L. Walbridge, Treas. & Sec., New York, N. Y. GENERAI. OFFICE. 1 Broadway, New York, N. Y. GLENFIELD AND WESTERN RR. — Glenfleld to Page, N. Y., 13.2 m. ; total track (steel; 60 Ibs.), 13.7 miles. Gauge, 4 ft. 8i in. Chartered, Oct., 1901; road opened for freight only, Sept. 1, 1902. The company is controlled by lumbering and paper manufacturing interests. Locomotive, 1. Cars (flat), 6. Operations, four months ending Dec. 31, 1902.— Trains run (freight), 2,379 miles. Tons freight moved, 5,395; ton-miles, 70,135. Earnings (freight), $3,708. Operating expenses, $3,290. Net earnings, $418. General Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $15,000; loans and bills payable, $139,199; current liabilities, $14,263 — total, $168,462. Contra: Cost of road and equipment, $152,628; materials, etc.. $2,983; cash on hand, $12,851 — total, $168,462. Directors. — G. H. P. Gould, Harry P. Gould, Lyons Falls, N. Y. ; J. E. Haberer, Lowville, 178 POOR'S MANUAL OK RAILROADS MIDDLE ATLANTIC GROUP. N. Y. : Charles W. Pratt, Boonvllle, N. Y. ; Charles H. Gi ifflng, Gloversville, N. Y. ; C. W. Camp- bell. Dexter. N. Y. : C. E. Campbell. New York. N. Y. ; James A. Outterson, F. P. Wilder, M. S. Wilder, Carthage. N. Y. OFFICERS : O. H. P. GOULD, Pres., Lyons Falls. N. Y. ; C. E. Campbell, \ice-Pres., New York. N. Y. ; M. S. Wilder, Sec. d Treas., Carthage, N. Y. ; J. M. Himes, 8upt., Glenfleld, Lewis Co.. N. Y. GKNKRAL OFFICE, Carthage, N. Y. GREENWICH AND JOHNSONVILLE BY. — Greenwich to Johnsonville. N. Y., 14.65 m. ; total track (steel; 56. 60 and 67 Ibs.). 16.15 miles. Gauge, 4 ft. 8J in. Reorganization, Sept. 6. 1879. of the G. & J. RR. Co. Locomotives. 3. Cars — passenger, 3 ; flat, 2 ; service, 2 — total, 7. Operations, year ending June 30, 1902. — Trains run (passenger, 23,869; mixed, 13,702), 37,571 miles. Passengers carried, 35,934 ; carried one mile, 454,100. Tons freight moved, 56,751; ton-miles, 801,224. Earnings (passenger, $13,434; freight, $34,061: other, $2,117), $49,612. Operating expenses, $28,479. Net earnings, $21,133 ; other receipts, $808 — total, $21,941. Pay- ments : Taxes, $1,363; dividends (5 p. c.), $7,500— total, $8,863. Surplus, $13,078; surplus for- ward, $5,872 — total, $18,950. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $150,000; current liabilities, $214,552; profit and loss, $18,950 — total, $383,502. ' Contra: Cost of road and equip- ment, $147,753 ; construction of extension, $217,063 ; permanent improvement, $739 ; real estate, $6,099 ; other investments, $620 ; materials, etc., $4,355 ; cash and current assets, $7,873 — total, $383.502. Directors.— I. C. Blandy. Horace Cottrell, Henry Gray, H. C. Gray, Le Roy Thompson, C. C. Van Kirk. Greenwich, N. Y. ; G. F. Blandy, J. C. Carrington, C. P. Noyes, New York, N. Y. ; D. A. Bullard, John A. Dix, A. W. Hitchcock, Schuylerville, N. Y. OFFICERS : I. C. BLANDY, Pres., Green- wich, N. Y. ; G. F. Blandy, Vice-Pres. ; C. P. Noyes, Treas., New York, N. Y. ; D. A. Bullard, Sec., Schuylerville, N. Y. ; J. H. McDaniels, Gen. Su.pt., Greenwich, N. Y. GENERAL OFFICE, Green- wich, N. Y. HUDSON HIGHLAND BRIDGE AND BY. — Reorganization, March 5, 1896, of the Hudson Susp. Bridge and New England Ry. The project is for a bridge over the Hudson River, near Peeksklll, with connecting railroads at both ends, the whole to form a connecting link between the great trunk lines and the railway system of New England. The charter calls for the comple- tion of the work by July 4, 1905. (See MANUAL for 1899, page 223.) Amount expended on work and connections, $700,000. Company is without debt or lien of any kind. Capital stock, $84,900. Directors. — R. G. Hazard, Peace Dale, R. I. ; A. P. Boiler, G. F. Lawrie, H. Alexander, O. W. Barnes, Frank Mann, H. R. Drowne, E. E. Biel, W. G. Whipp, New York, N. Y. ; Wm. G. Ladd, Henry Martin, Wm. Ladd, James F. Pierce, Brooklyn, N. Y. OFFICERS : R. G. HAZARD, Pres., Peace Dale. R. I. ; Wm. G. Ladd, Sec. d Treas., Brooklyn, N. Y. GENERAL OFFICE, 130 State Street, Brook- lyn, N. Y. HUNTERS BUN AND SLATE BELT BB.— Pine Grove Furnace to Slate Belt, Pa., 5.5 m. ; leased, Gettysburg and Harrisburg RR., Hunter's Run to Pine Grove Furnace, Pa., 8 m. — total, 13.5 m. ; total track (steel, 12.12 m.), 13.87 miles. Rail, 45 to 60 Ibs. Gauge, 4 ft. 8i in. Chartered June 8, 1891, and leased from the G. & H. RR. Co., for 999 years, at $1 per annum, 8 miles of road, from Hunters Run to Pine Grove Furnace. (See MANUAL for 1892, page 915.) The extension from Pine Grove Furnace to Slate Belt, built by the company, was opened June 15, 1892. Locomotives, 2. Cars — passenger, 2 ; combination, 1 ; other, 4 — total, 7. Operations, year ending June 30, 1902. — Trains run (mixed, 11,728; other, 1,122), 12,850 miles. Passengers carried, 11,971 ; carried one mile, 73,614. Tons freight moved, 55,016 ; ton- miles, 213,682. Earnings (passenger, $1,509 ; freight, $12,588 ; other, $421), $14,518. Operating expenses, $11,939. Net earnings, $2,579. Payments : Interest on debt, $655 ; taxes, $382 ; rental, $1 — total, $1,038. Surplus, $1,541 ; deficit forward, $6,444 ; net deficit, $4,903. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth. ; $50 shares), $59,- 600 ; real estate mortgages, $4,500 ; current liabilities, $34,760 — total, $98,860. Contra : Cost of road and equipment, $59,608 ; other investments, $3,343 ; materials, etc., $171 ; cash and current assets., $30,835 ; profit and loss, $4,903 — total, $98,860. Directors (elected Jan. 9, 1903). — J. C. Fuller, Pine Grove Furnace, Pa.; Jay Cooke, B. J. Woodward. Jno. M. Butler, Charles D. Barney, J. Horace Harding, Philadelphia, Pa. ; W. H. Gib- bons, Coatesville, Pa. OFFICERS : J. C. FULLER, Pres., Pine Grove Furnace, Pa. ; John M. Butler, Sec. d Treas., Philadelphia, Pa. ; A. C. Givler, Gen. Supt., Pine Grove Furnace, Pa. GENERAL OFFICE, Pine Grove Furnace, Pa. IBONTON BB.— Coplay to Ironton, Pa., 5.5 m. ; Junction to Siegersville, 3.5 m. ; Egypt to West Coplay. 0.75 m. — total, 9.75 m. ; total track (steel, 12.25 m.), 14.75 miles. Rail, 50 and 70 Ibs. Gauge, 4 ft. 8J in. Chartered March 4, 3859; opened in May, 1860. The company uses 0.25 mile of L. V. RR. tracks at Coplay and 1 mile of Thomas Iron Co. RR. tracks at Hokendauqua. Locomotives, 4. Cars — combination, 1; freight (flat), 6; service, 1 — total, 8. Operations, year ending June 30, 1902. — Trains run (passenger, 9,967; freight, 55,674), 65,641 miles. Passengers carried, 40,836 ; carried one mile, 163,344. Tons freight moved, 923,274 ; ton-miles, 2,686,727. Earnings (passenger, $2,449; freight, $159.047; other, $417), $161,913. Operating expenses, $69,548. Net earnings, $92,365 ; other receipts, $806 — total, $93,171. Pay- ments: Taxes, $3,160; dividends (45 p. c.), $90,000 — total, $93,160. Surplus, $11; surplus for- ward, $55,757 — total, $55,768. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $200,000; current liabilities, $23,428 ; profit and- loss, $55,768 — total, $279,196. Contra : Cost of road and equip- ment, $200,000 ; land, $675 ; cash and current assets, $78,521 — total, $279,196. Directors (elected Oct. 13, 1902). —Samuel Thomas, Catasauqua, Pa.; B. F. Fackenthal, Jr., James W. Weaver, Fred R. Drake, Jos. S. Rodenbough, Easton, Pa. ; Wm. H. Hulick New York, N. Y. OFFICERS : B. F. FACKENTHAL, JR., Pres., Easton, Pa. ; Wm. H. Hulick, Vice-Pres., New York, N. Y. ; James W. Weaver, Sec., Treas. d Aud., Easton, Pa. GENERAL OFFICE, Easton, Pa. JAMESTOWN, CHAUTAUQUA AND LAKE ERIE BY.— Mayville to Westfleld, N. Y., 10.80 miles. Gauge, 4 ft. 8J in. Rail (steel), 70 Ibs. Organized Sept. 25, 1900, and acquired control of the Jamestown and Cbautauqua Ry. Co. and of the Chautauqua Steamboat Co. The road was put in operation about the end of July, 1902. Locomotives (1 leased), 2. Cars — passenger, 5; baggage, etc., 1 ; service, 17 — total, 23. Financial Statement, June 30, 1902. — Capital stock ($100 shares), $750,000; funded debt (1st 4s of Jan. 1, 1951 ; $750,000 auth.), $733,000 — total stock and bonds, $1,483,000. Directors (elected Oct. 7, 1902). — W. A. C. Ewen ( Chairman), S. R. Bertron, Richard S Storrs, Murray W. Dodge, George J. Sontag, New York, N. Y. ; S. F. Nixon, Westfleld, N. Y. • Den- POOR'S MANUAL OF RAILROADS. 179 man Blanchard, Livingston Gushing, Boston, Mass. ; G. Henry Whitcomb. Worcester, Mass. OF- FICERS : F. L. CHASE, Pres., Jamestown, N. Y. ; Geo. J. Sontag, 1st Vice-Pres., New York, N. Y. ; 8. F. Nixon, 2d Vice-Pres., Jamestown, N. Y. ; Richard S. Storrs, Sec. & Treas., New York, N. Y. GENERAL OFFICE, Jamestown, N. Y. New York City Office, 40 Wall Street. JAMESTOWN AND CHATJTAUQ,UA BY.— Jamestown, to Mayrille Junction, N. Y.. 21.17 m. ; Mayville to Chautauqua, N. Y., 2.68 m. ; Clifton to Falconer, N. Y., 3.46 m. ; trackage (Pa. RR.), Mayville Jc. to Mayville, 1.20 m. — total, 28.51 m. ; total track (steel; 60 Ibs.), 32.46 miles. Gauge, 4 ft. 8J In. Chartered Jan. 1, 1899, as successor to the Jamestown and Erie Ry. Co., whose property was sold under foreclosure, Nov. 1, 1898. Locomotives (leased, 1), 5. Cars — pas- senger, 14 ; baggage, etc., 1 ; caboose and service, 2 — total, 17. Operations, year ending June 30, 1902. — Trains run (passenger, 38,139; freight, 22,038; other, 38,761), 98,938 miles. Passengers carried, 51,372; carried one mile, 805,512. Tons freight moved, 103,306; ton-miles, 1,575,416. Earnings (passenger, $17,601; freight, $48,506; other, $3,734), $69,841. Operating expenses, $52,795. Net earnings, $17,046. Paid: Taxes, $3,367. Surplus, $13,679; surplus forward ($26,603; less overcharges returned, etc., $1,012), $25,591 — total, $39,270. General Balance Sheet, June 30, 1902. — Capital stock (common, $350,000; preferred, $125,000), $475,000; funded debt (1st 5s of Nov. 15, 1998), $250,000; loans and bills payable, $32,860; current liabilities, $8,244; profit and loss, $39,270 — total, $805,374. Contra: Cost of road and equipment, $786,078 ; materials, etc., $3,194 ; cash and current assets, $16,102 — total, $805,374. Directors. — W. A. C. Ewen, S. R. Bertron, R. S. Storrs, L. C. Herckenrath, G. J. Sontag, Mur- ray W. Dodge, New York, N. Y. ; F. L. Chase, Jamestown, N. Y. ; S. F. Nixon, Westfleld, N. J. ; Denman Blanchard, Boston, Mass. OFFICERS : W. A C. EWEN, Pres., New York, N. Y. ; S. Fred Nixon, Vice-Pres., Westfleld, N. Y. ; R. S. Storrs, Treas., New York, N. Y. ; R. J. Booty, Gen. Supt.; O. W. Kelsey, Aud., Jamestown, N. Y. GENERAL OFFICE, Jamestown, N. Y. JEROME PARK RY. — Jerome Park Station to Jerome Park, N. Y., 1.08 m. ; total track (steel; 56 Ibs.), 1.66 miles. Gauge, 4 ft. 8J in. Chartered April 26, 1880; road opened May 31, 1880. Leased to the contractor building Jerome Park Reservoir, at a rental of $3,000 per annum. Income Account, year ending June 30, 1902. — Earnings, $3,000. Charges : Interest on bonds, $6,000 ; taxes, $960 ; sundries, $35 — total, $6,995. Deficit, $3,995 ; deficit forward, $42- 591 — total, $46,586. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; funded debt (1st 6s of May 1, 1890), $100,000; interest due and accrued, $72,000; other liabilities, $119; taxes due and accrued, $5,698 — total, $227,817. Contra: Cost of road and equipment, $172,454; cash and current assets, $4,824 ; other assets, $3,953 ; profit and loss, $46,586 — total, $227,817. Directors. — Oren Root, Jr., D. C. Moorehead, R. B. Frederick, Edward J. Wilson, L. H. Thrall, W. D. Davies, New York, N. Y. ; Charles T. Esher, Jersey City, N. J. OFFICERS : OREN ROOT, Pres. : D. C. Moorehead, Sec. & Treas., New York, N. Y. GENERAL OFFICE, 621 Broadway, New York, N. Y. KANE AND ELK RR.— East Kane to McKinley, Pa., 6 m. ; McKinley to La Mont, Pa., 1.5 m. ; McKinley to Coon Run June., Pa., 1.5 m. ; McKinley to Salter, Pa., 1 m. — total, 10 miles. Gauge, 3 ft. Rail (steel), 30 to 50 Ibs. Organized Sept. 4, 1895; road opened in 1896. Locomo- tives, 2. Cars (freight, 28; other, 2), 30. Operations, year ending June 30, 1902. — Tons freight moved, 21,629 ; ton-miles, 216,290. Earnings (freight, $9,373 ; other, $303), $9,676. Operating expenses, $9,577. Net earnings, $99 ; other income, $375 — total, $474. General Balance Sheet, June 30, 1902. — Capital stock, $75,000 ; current liabilities, $17,- 931 ; profit and loss, $660 — total, $93,591. Contra : Cost of road and equipment, $88,509 ; cash and current assets, $5,082 — total, $93,591. Directors (elected Aug. 18, 1902). — W. A. James, H. J. James, Eben B. James, Kane, Pa. ; D. M. James, Plymouth, Mass. ; D. W. James, J. C. James, Hinton, W. Va. OFFICERS : E. B. JAMES, Pres., Kane, Pa.; D. W. James, Vice-Pres., Hinton, W. Va. ; H. J. James, Sec. & Treas.; C. E. Robinson, Aud., Kane, Pa. GENERAL OFFICE, Kane, Pa. KANONA AND PRATTSBTJRGH RY.— Kanona to Prattsburgh, N. Y., 11.44 m. ; total track Csteel ; 56 Ibs.), 12 miles. Gauge, 4 ft. 8J in. Chartered April 14, 1897, as successor to the K. & P. RR. Co. The company has a freight traffic agreement with the Erie RR. Co., under which that company supplies cars for through business. Locomotive, 1. Cars — passenger, 1 ; baggage, etc., 1; freight (box, 5; coal, 5; other, 1), 11 — total, 13. Operations, year ending June 30, 1902. — Trains run (mixed), 22,536 miles. Passengers car- ried, 11,026; carried one mile, 126,137. Tons freight moved, 12,370; ton-miles, 141,512. Earn- ings (passenger, $4,486; freight, $9,580; other, $1,434), $15,500. Operating expenses, $14,684. Net earnings, $816 ; other receipts, $600 — total, $1,416. Payments : Interest on bonds, $3,000 ; taxes, $768 — total, $3,768. Deficit, $2,352. Surplus forward, $5,129. Net surplus, $2,777. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $120,000; funded debt (1st 4s of April 1, 1937), $75,000; current liabilities, $1,589; profit and loss, $2,777 — total, $199,366. Contra : Cost of road and equipment, $197,900 ; cash and current assets, $1,466 — total, $199,366. Directors. — Lewis V. F. Randolph, Wm. Carpender, John A. Young, Lysander M. Jones, James F. McNamara, Rufus R. Groves, John J. Cahill, New York, N. Y. ; Isaac W. Fowler, Prattsburgh, N. Y. ; Wm. H. Nichols, Bath, N. Y. OFFICERS : BRAYTON IVES, Pres., New York, N. Y. ; I. W. Fowler, Vice-Pres., Prattsburgh, N. Y. ; Ben;). Strong, Jr., Sec. & Treas., New York, N. Y. ; E. C. Brandenburg, Supt., Prattsburgh, N. Y. GENERAL OFFICE, Prattsburgh, N. Y. KEATING AND SMETHPORT RR.— Penna. RR. track to McKean's Mill, Pa., 0.6 mile. Organized Aug. 21, 1899. Company owns 1 locomotive. Operations, year ending June 30, 1902. — Earnings (freight), $1,636. Operating expenses, $1,662. Deficit from operations, $26. General Balance Sheet, June 30, 1902. — Capital stock, $10,000 ; current liabilities, $310 — total, $10,310. Contra : Cost of road, $10,000 ; profit and loss, $310 — total, $10,310. Directors. — Robert Osgood, Salem, Mass.; Z. U. Weisz, East Smethport, Pa.; F. D. Gallup, W. D. Gallup, Smethport, Pa. ; C. A. Backer, Melrose, Mass. OFFICERS : C. A. BACKER, Pres., Mel- rose, Mass. ; Z. U. Weisz, Sec., Treas. & Aud., East Smethport, Pa. GENERAL OFFICE, Smethport, Pa. KEESEVILLE, AT7SABLE CHASM AND LAKE CHAMPLAIN RR.— Port Kent to Keeseville, N. Y., 5.64 m. ; total track (steel; 60 Ibs.), 6.07 miles. Gauge, 4 ft. 8} In. Chartered 180 POOR'S MANUAL Or RAILROADS — MIDDLE ATLANTIC GROIT. April 2. 1889; road opened May 26. 1890. Locomotive. 1. Cars — passenger, 3; service, 2 — total. 5. Operations. >t:ir ending June 30, 1902. — Trains run (passenger, 5,960; freight, 17,883), 23.843 miles. Passengers carried, 33.029; carried one mile, 156,227. Tons freight moved, 31.830: ton-miles. 143.330. Earnings (passenger. $9,521; freight. $9,386), $18,907. Operating expenses, $13.454. Net earnings, $5.453 ; other receipts, $1,331 — total, $6,784. Payments : Interest on bonds, $1.800; taxes, $276 — total. $2,076. Surplus, $4,708; surplus forward, $12,840 — total, 17,548. Deductions during the year, $516. Net surplus June 30, Itf02, $17,032. General Balance Sheet, June 30, 1902.— Capital stock ($60,000 auth. ; $10 shares), $30,- 710; funded debt (1st Cs of Dec. 1, 1909), $30,000; current liabilities, $2,185; interest accrued, $150; profit and loss, $17,032 — total, $80,077. Contra: Cost of road and equipment, $72,054; materials, etc., $194 ; cash and current assets, $6,292 ; other assets, $1,537 — total, $80,077. Directors (elected April 1, 1903). — Edmund K. Romeyn, Geo. N. Kingsland, Charles M. Hop- kins, Conant S. Taylor, Adelbert W. Boynton, Edmund K. Baber, Henry M. Mould, Chas. H. Pres- cott, Michael J. Callanan, Albert W. Shields, Frank H. Hopkins. H. M. Prime, M. McOuire, Keese- ville, N. Y. OFFICERS : EDMUND K. BABER. Pres.; C. H. Prescott, Vice-Pres.; Chas. M. Hopkins, Treos.j Adelbert W. Boynton, Sec.; Geo. N. Kingsland, Gen. Myr.t Keeseville, N. Y. GENERAL OF- FICE, Keeseville, N. Y. KETNEB AND KAY FORK RB.— Ketner Junction to Hall and Kane Junction, Pa., 8 m. ; Middle Fork Junction to Middle Fork, 1 m. — total, 9 miles. Gauge, 4 ft. 8J in. Rail (steel), 63 Ibs. Chartered July 18. 1901 ; road opened, 1902. Locomotive, 1. Operations, period ending June 30, 1902. — Trains run (mixed), 5,200 miles. Tons freight moved. 11,249. Earnings (freight), $5,062. Operating expenses, $6,212. Deficit from operations. $1,150. General Balance Sheet, June 30, 1902. — Capital stock ($80,000 auth.; $100 shares), $30,- 000; funded debt ( 1st 6s of Sept. 1, 1921 ; $30,000 auth.), $22,000 ; interest accrued, $ 140 ; cur- rent liabilities, $1,87-9 — total, $54,319. Contra: Cost of road and equipment, $52,231; cash and current assets. $1,038 ; profit and loss, $1,050 — total, $54,319. Directors. — John G. Whitmore, Ridgway, Pa. ; M. II. Eisman, C. F. Wright, A. H. Falkenburg, H. C. Miller, C. W. Glidden, Martin Hersch, Charles Sabin, Susquehanna, Pa. OFFICERS : F. E. CLAWSEN, Pres., Glen Hazel, Pa. ; M. H. Eisman, Vice-Pres. ; C. F. Wright, Treas., Susquehanna, Pa. ; John G. Whitmore, Sec., Ridgway, Pa. GENERAL OFFICE, Glen Hazel, Pa. KINZUA AND TIONA BB. — Dewdrop to Stewart, Pa., 9 m. ; total track (steel; 45 Ibs.), 12 miles. Gauge, 4 ft. 9 in. Chartered June 21, 1897; road opened same year. Locomotives, 3. Freight cars (box, 2 ; stock, 4 ; flat, 1 ; logging, 15), 22. Operations, year ending June 30, 1902. — Trains run (freight), 4,511 miles. Tons freight moved, 39,052 ; ton-miles, 110,517. Earnings ( freight, $9,397 ; other, $3,000), $12,397. Operating expenses, $12,303 ; taxes, $196 — total, $12,499. Deficit, $102. General Balance Sheet, June 30, 1902. — Capital stock ($80,000 auth.; $100 shares), $55,- 000. Contra : Cost of road and equipment, $54,009 ; cash and current assets, $897 ; profit and loss, $94 — total, $55,000. Directors (elected Dec. 26, 1902). — H. A. Jamieson, W. I. Bartholomew, Warren, Pa.; Jno. W. Campbell, F. W. Reese, Kane, Pa. ; G. W. Campbell, E. W. Campbell, Dewdrop, Pa. ; H. G. Bax- ter, Clarendon, Pa. OFFICERS : JOHN W. CAMPBELL, Pres., Kane, Pa. ; G. W. Campbell, Vice-Pres. ; E. W. Campbell, Sec., Treas. & Qen. Supt., Dewdrop, Pa. GENERAL OFFICE, Dewdrop, Pa. KISHACOaUILLAS VALLEY BB.— Reedsville to Belleville. Pa., 9.2 m. ; trackage (Penn. RR.), Kishacoquillas June, to Reedsville, Pa., 0.30 m. — total, 9.5 m. ; total track (steel; 60 Ibs.), 10.3 miles. Gauge, 4 ft. 8J in. Chartered June 14, 1892; road opened June 20, 1893. Locomotives, 2. Cars — passenger, 2; freight (flat), 2; other, 2 — total, 6. Operations, year ending June 30, 1902. — Trains run (mixed), 20,000 miles. Passengers car- ried, 25,889 ; carried one mile, 191,388. Tons freight moved, 12,814 ; ton-miles, 102,512. Earn- ings (passenger, $4,743; freight, $5,324; other, $646), $10,713. Operating expenses, $9,525. Net earnings, $1,188. Paid taxes, $224. Surplus, $964 ; surplus forward, $12,017 ; additions during year, $924 — total, $13,905. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth.; $25 shares), $91,- 925 ; current liabilities, $2,987 ; profit and loss, $13,905 — total, $108,817. Contra : Cost of road and equipment, $94,306; investments, $3,500; materials, etc., $1,000; balance due on stock, $2,399 ; lands owned, $7,612 — total, $108,817. Directors (elected June 8, 1902). — W. J. Hayes, J. H. Peachey, Solomon Z. Hartzler, J. P. Getter, Wm. B. Maclay, Wm. J. McNabb. S. Watts, John Watts, J. M. Campbell, Belleville, Pa. OFFICERS : W. J. HAYES, Pres. ; J. M. Campbell, Vice-Pres. ; Mrs. Clare W. Getter, Treas. ; Wm. B. Maclay, Sec.; J. P. Getter, Gen. Mgr.; Wm. M. Gibboney, Aud., Belleville, Pa. GENERAL OFFICE, Belleville, Pa. LAKE CHAMPLAIN AND MOBIAH BB.— Port Henry to Mineville, N. Y., 7.66 m. ; total track (steel; 60 to 70 Ibs.), 14.92 miles. Gauge, 4 ft. 8J in. Organized Dec. 4, 1867; road opened in 1869. Operated chiefly in connection with the iron mines at Mineville. Locomotives, 6. Cars — passenger, 3 ; freight ( flat, 7 ; ore, 247), 254 ; service, 2 — total, 259. Operations, year ending June 30, 1902. — Trains run ( freight, 30,000 ; mixed, 22,848 ; other. 1,052), 53,900 miles. Passengers carried, 3,501; carried one mile, 24,507. Tons freight moved, 315,187; ton-miles, 2,206,309. Earnings (passenger, $728; freight, $60,290), $61,018. Operating expenses, $46,345. Net earnings, $14,673 ; other receipts, $494 — total, $15,167. Paid : Taxes, $2,695. Surplus, $12,472 ; surplus forward, $4,323 — total, $16,795. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $200,000; open ac- counts, $8,764 ; profit and loss, $16,795 — total, $225,559. Contra : Cost of road and equipment, $185.200; materials, etc., $23,564; cash and current assets, $16,795 — total, $225,559. Directors (elected Oct. 14, 1902). — Frank S. Witherbee, W. T. Foote, Jr., Port Henry, N. Y. ; Albert E. Tower, Pougbkeepsie, N. Y. ; H. N. Brinsmade, I. Townsend Burden, Moses Taylor, New York, N. Y. OFFICERS : W. T. FOOTE, JR., Pres., Port Henry, N. Y. ; Moses Taylor, Vice-Pres. : L. W. Frances, 2d Vice-Pres.; H. N. Brinsmade, flfec., New York, N. Y. : Albert E. Tower, Treas. & Gen. Ugr., Poughkeepsie, N. Y. GENERAL OFFICE, Poughkeepsie, N. Y. LANCASTER OXFOBD AND SOTJTHEBN BB. — Oxford to Susquehanna, Pa., 20 m. ; total track (steel, 12 m.), 20.9 miles. Rail, 30 and 60 Ibs. Gauge, 3 ft. Reorganization, Sept. 3, 1890, of the Peach Bottom RR. Locomotives, 2. Cars — passenger, 3 ; freight, 21 — total, 24. POOR'S MANUAL OF RAILROADS. 181 Operations, year ending Juno 30, 1902.— Passengers carried, 13,785 ; tons freight moved, 11,605. Earnings (passenger, $5,550; freight, $8,890; other, $314), $14,754. Operating expenses, $14,569. Net earnings, $185. Deductions, $42. Surplus, $143. General Balance Sheet, June 30, 1902. — Capital stock ($500,000 auth. ; $50 shares), $119,- 686 ; current liabilities, $3,340 — total, $123,026. Contra : Cost of road, etc., $119,686 ; cash and current assets, $1,117 ; profit and loss, $2,223 — total, $123,026. Directors (elected May, 1902). — Walter M. Franklin, J. W. B. Bausman, Jacob B. Long, Lan- caster, Pa. ; J. E. Ramsey, J. M. Showalter, A. M. Nevin, D. M. Taylor, Oxford, Pa. OFFICERS : WALTER M. FRANKLIN, Pres.; J. W. B. Bausman, Sec. & Treas. ; J. B. Long, And., Lancaster, Pa.; A. M. Nevin, Gen. Mgr., Oxford, Pa. GENERAL OFFICE, Oxford, Pa. LEETONIA RR. — Tiadaghton to Leetonia, Pa., 8.26 m. ; Junction to Four Mile Run, 10.75 m. — total, 19.01 m. ; total track (steel; 40, 60 and 76 IDS.), 20.77 miles. Gauge, 4 ft. 8i in. Organized March 7, 1899 ; road opened July 1, 1899. On June 30, 1902, the company owned 3 loco- motives and 3 flat cars ; since then 22 additional flat cars have been purchased. Operations, year ending June 30, 1902. — Trains run (freight), 11,019 miles. Tons freight moved, 40,303; ton-miles, 418,915. Earnings (freight), $19,421; other receipts, $100 — total, $19,521. Operating expenses," $21,947; taxes, $329 — total, $22,276. Deficit, $2,755; deficit for- ward, $5,371 — total, $8,126. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth. ; $100 shares), $64,- 500; current liabilities, $90,800 — total, $155,300. Contra: Cost of road and equipment, $86,501; Tiadaghton and Fahnestalk property, $54,626 ; materials, etc., $1,253 ; cash and current assets, $4,794 ; profit and loss, $8,126 — total, $155,300. Directors (elected Jan. 13, 1903).- — C. S. Horton, A. E. Botchford, A. T. Thompson, F. E. Brad- ley, Williamsport, Pa. ; J. Harrison, E. G. Schieffelin, Wellsboro, Pa. ; A. R. Spicer, Hoytville, Pa. ; L. R. Horton, Blossburg, Pa. ; M. F. Hammond, New York, N. Y. OFFICERS : C. B. FARR, Pres. & Gen. Mgr. ; C. S. Horton, Vice-Pres. ; F. E. Bradley, Treas. ; A. E. Botchford, Sec. ; Geo. C. Darling, Aud., Williamsport, Pa. GENERAL OFFICE, Williamsport, Pa. LEHIGH AND NEW ENGLAND RR.— Slatington, Pa., to Hainesburgh June., N. J., 34.42 m. ; Swartswood June., N. J., to Liberty Corners, N. Y., 21.20 m. ; Howerton June, to Hower- ton, Pa., 0.80 m. ; East Bangor June, to East Bangor, Pa., 4 m. ; Bangor June, to Winsboroughtown, Pa., 1.80 m. ; Wind Gap to Northampton June., Pa., 9 m. ; Campbell Hall Connecting RR. (see ap- pended statement), 3.78 m. ; Pochuck RR. (see appended statement), 4.30 m. — total, 79.30 miles. Trackage : N. Y., S. & W. RR. ; Hainesburgh June, to Swartswood, N. J., 18.63 m. ; Erie RR., Pine Island to Campbell Hall, N. Y., 16.79 m. — total, 35.42 miles. Total operated, 114.72 miles. Sid- ings owned, 11.82 miles. Gauge, 4 ft. 8£ in. Rail (steel, 79.30 m.), 54 to 70 Ibs. Organized April 2, 1895, as successor to the Pennsylvania, Poughkeepsie and Boston RR. Co., whose property was sold under foreclosure Dec. 14, 1894. (See MANUAL for 1898, page 74.) Locomotives, 7. Cars — baggage, etc., 2 ; freight (flat), 20 — total, 22. Operations, year ending June 30, 1902. — Trains run (mixed), 136,990 miles. Earnings (pas- senger, $8,341; freight, $110,071; other, $6,272), $124,684. Operating expenses, $92,252. Net earnings, $32,432. Payments : Interest on bonds, $37,750 ; taxes, $1,505 ; other charges, $7,923— total, $47,178. Deficit. $14,746 ; deficit forward, $57,822 ; total, $72,568. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $750,000; funded debt ($731,000 1st gold 5s of July 1, 1945, and $20,000 equipment trust notes), $751,000; current lia- bilities, $262,493 — total, $1,763,493. Contra: Cost of road and equipment, $1,640,075; securities owned, $1 ; materials, etc., $5,496 ; cash and current assets, $45,353 ; profit and loss, $72,568 — total, $1,763,493. RAILROADS OPERATED BY THE L. & N. E. RR. Co. Campbell Hall Connecting RR. — Pine Island, N. Y., to New Jersey State Line, 3.78 m. ; total track, 4.11 miles. Rail (steel, 3.78 m.), 54 and 60 Ibs. Chartered April 3, 1889. Controlled and operated by the Lehigh and New England RR. Co. Balance Sheet, June 30, 1902. — Capital stock paid in ($500,000 auth.; $50 shares), $125,000; funded debt (1st 5s of Aug. 1, 1939), $125,000 — total, representing cost of road, $250,000. All of the bonds and a majority of the capital stock are owned by the Lehigh and New England RR. Co. J. C. Stanton, Pres.; D. J. McNeil, Sec. & Treas., New York, N. Y. Offices, 929 Chestnut St., Philadelphia, Pa., and Goshen, N. Y. Pocnuclt RR. — Campbell Hall Connecting RR. between Wilcox and Liberty Corners, N. Y., 4.3 miles. Rail (steel), 6d Ibs. Chartered April 23, 1897; road opened July 1, 1897. Operated by the Lehigh and New England RR. Co., which owns the entire capital stock, $20,000. William Jay Turner, Pres. ; John W. Moffly, Treas. ; J. R. Sagee, Sec., Philadelphia, Pa. Office, 929 Chestnut St., Philadelphia, Pa. Directors (L. & N. E. RR. Co.). — Wm. Jay Turner, Wm. B. Scott, W. W. Gibbs, Morris Pfael- zer, John W. Moffly, W. W. Kurtz, Philadelphia, Pa. ; Geo. W. Jackson, Atlantic City, N. J. OFFI- CERS : WILLIAM J. TURNER, Pres.; Wm. B. Scott, Vice-Pres.; Joseph R. Sagee, Sec.,- Philadelphia, Pa. ; F. S. Fowler, Treas. & Aud. ; J. R. Whitney, Gen. Mgr., Pen Argyl, Pa. GENERAL OFFICE, 929 Chestnut St., Philadelphia, Pa. LEWISBTJRG AND BUFFALO VALLEY RR.— Lewisburg to Kulps, Pa., 15 miles. Organized May 10, 1897 ; constructed, as above, during the same year. Operated under a lease by Monroe H. Kulp & Co., incorporated. Owns 3 locomotives and 40 freight cars. Income Account, year ending June 30, 1902. — Total receipts, $1,200. Paid dividend (4 p. c.), $1,200. General Balance Sheet, June 30, 1902. — Capital stock, $30,000; funded debt (particulars not furnished), $18,500 — total, $48,500. Contra: Cost of road, $20,000 ; equipment, $10,000 ; cash and current assets, $18,500 — total, $48,500. Directors (elected Jan., 1903). — Monroe H. Kulp, G. Gilbert Kulp, D. C. Kaseman, H. W. Shuman, W. -J. Wicst, Shamokin, Pa. ; M. S. Leisenring, Upper Lehigh, Pa. OFFICERS : MONROE H. KULP, Pres.; G. Gilbert Kulp, Vice-Pres.; D. C. Kaseman, Sec. & Treas., Shamokin, Pa. GENERAL OFFICE, Shamokin, Pa. LITTLE FALLS AND DOLGEVILLE RR.— Little Falls to Dolgevllle, N. Y., 10.32 m. ; total track (steel; 60 Ibs.), 11.32 miles. Gauge, 4 ft. 8* in. Chartered Dec. 28, 1902; successor, after foreclosure, to a company of the same name (see M'ANUAL for 1902, page 179). Locomotives, 2. Cars — passenger, 3; baggage, etc., 1; freight (box, 2; flat, 4), 6 — total, 10. 182 POOR'S MANUAL OF RAILROADS — MIDDLE ATLANTIC GROUP. Operation* (old company), year ending June 30. 1902. — Trains run (mixed), 25.455 miles. Passengers carried 25 455 ; carried one mile, 258,881. Tons freight moved, 24,016 ; ton-miles, 247,845. Earnings (passenger. $9.318; freight, $29,380; other, $1,243), $39.947. Operating expense*. $27.037. Net earnings, $12.910; other receipts, $324 — total, $13,324. Paid taxes, $2,118. Surplus, $11,116. Financial Statement, Jan. 1. 1903. — Capital stock ($100 shares), $250,000; funded debt (1st mtge. 3s of July 1, 1932), $250,000 — total, $500,000, representing cost of road and equip- ment. Directors.— Dumont Clarke. F. H. Collins, E. R. Wanckel, S. R. Ingham, New York, N. Y. ; Titus Sheard. J. J. Gilbert, J. S. Barnett. George D. Smith, A. M. Mills, Little Falls, N. Y. ; George W. Ward, Theo. H. Roth, B. II. White, Dolgeville, N. Y. OFFICERS : DUMONT CLARKE, Pret., New York, N. Y. ; Titus Sheard, Vice-Pres., Little Falls, N. Y. ; E. R. Wanckel, Sec. <& Treat., New York, N. Y. GENERAL OFFICE, Dolgeville, N. Y. LIGONIEB VAJLLEY BB. — Latrobe to Ligonier, Pa., 11 m. ; total track (steel; 56. 70, and 85 Ibs.), 17.14 miles. Gauge, 4 ft 8} in. Chartered as Latrobe and Ligonier RR. Co., April 15, 1853 ; supplementary charter, May 2, 1871. Name changed and road opened Nov. 17, 1877. Loco- motives, 3. Cars — passenger, 8; baggage, etc., 1 ; freight (box, 2 ; Cat and coal. 8). 10 — total, 19. Operations, year ending June 30, 1902. — Trains run (passenger, 24,599; freight, 12.940), 37,539 milet.. Earnings (passenger, $35,173 ; freight, $44,612 ; other, $2,609), $82,394. Operat- ing expenses, $56,259. Net earnings, $26,135: Payments: Interest on bonds, $3,750; taxes, $1,229; dividends (6 p. c.), $9,600 — total, $14,579. Surplus, $11,556 ; surplus forward, $65,274 — total. $76,830. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $160,000; funded debt (1st 5s of April 1, 1907), $75,000; profit and loss, $76,830 — total, $311,830. Contra: Cost of road and equipment, $286,750; cash, $25,080 — total, $311,830. Directors. — T. A. Mellon, James R. Mellon, A. W. Mellon, R. B. Mellon, E. P. Mellon, Thomas Mellon, W. S. Mitchell, Pittsburgh, Pa. ; Geo. Senft, Ligonier, Pa. OFFICERS: J. R. MELLON, Pres. ; A. W. Mellon, Sec.; R. B. Mellon. Treas., Pittsburgh, Pa.; Geo. Senft, Gen. Mgr., Ligonier, Pa. GENERAL OFFICE, 514 Smithfield Street, Pittsburgh, Pa MANAHAWKIN AND LONG BEACH TBANSPOBTATION CO. -Chartered Dec. 30, 1893. Leases the Barnegat RR. (see appended statement). Locomotives, 2. Cars (passenger, 1; baggage, etc., 1 ; freight flats, 2), 4. Capital stock, $8,900 ; no bonds. Operations, year ending June 30, 1902. — Earnings (passenger, $3,550; freight, $2,862; other $996), $7,408. Operating expenses, $7,408; taxes, $9; rentals, $350 — total, $7,767. Deficit, $359" deficit forward, $1,465 — total, $1,824. RAILROAD LEASED BY THE M. & L. B. T. Co. total, $50,158. Contra : Cost of road, etc., $50,000 ; cash, $158 — total, $50,158. W. J. Sewell, Pres., Camden, N. J. ; F. W. Schwarz, Sec. ; John M. Wood, Treas., Philadel- phia, Pa. Office, Broad Street Station, Philadel- phia, Pa. lliimegrnt RR. — Barnegat City June, to Barnegat City, N. J., 8.71 miles. Gauge, 4 ft. 8* in. Operated by the M. & L. B. T. Co., under a lease dated March 14, 1894, and renewable from year to year, at a rental of $100 a year. (See Manual for 1895, page 1388.) Capital stock, $50,000; profit and loss, $158 — Directors (M. & L. B. T. Co.). — B. F. Archer, Camden, N. J. ; Francis Fenimore, Harvey Cedars, N. J. ; F. B. Abercrombie, Jersey City, N. J. ; Thomas Calahan, H. C. Loudenslager, John Roberts, J. Martin Rommel, Wm. H. Sayen, Philadelphia, Pa. OFFICERS : WM. H. SAYEN, Pres., Philadelphia, Pa.; B. F. Archer, Vice-Pres., Camden, N. J. ; J. V. Jones, Supt.; J. Martin Rommel, Sec.; Clarence E. Moore, Treas., Philadelphia, Pa. GENERAL OFFICE, 1414 Penn Square Philadelphia, Pa. MARINE BY. — Manhattan Beach Hotel to Brighton Beach, Coney Island, N. Y., 0.444 m. ; sidings, 0.038 mile. Gauge, 4 ft. 8J in. Rail (steel), 62i Ibs. Chartered Feb. 27, 1878; road opened July 19, 1878. Locomotive, 1. Cars (passenger), 4. Operations, year, ending June 30, 1902. — Passengers carried, 162,885. Earnings (passenger), $8,132. Operating expenses, $7,194 ; taxes, $18 — total, $7,212. Surplus, $920 ; deficit forward. $69,950 ; net deficit, $69.030. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; taxes ac- crued, $25 ; open accounts, $32,989 — total, $83,014. Contra : Cost of road and equipment, $11,472 • cash and current assets, $2,512 ; profit and loss, $69,030 — total, $83,014. Directors. — Austin Corbin, Geo. S. Edgell, J. K. O. Sherwood, W. G. Bosworth, New York, N. Y. ; M. A. Smith, W. J. Kelly, Brooklyn, N. Y. ; D. S. Voorhees, Woodbridge, N. J. OFFICERS : GEO. S. EDGELI., Pres.; Austin Corbin, Vice-Pres.; W. G. Bosworth, Treas.; D. S Voorhees Sec New York, N. Y. GENERAL OFFICE, 192 Broadway, New York, N. Y. MABYLA.ND AND PENNSYLVANIA BB,— Baltimore to York, Pa., 80 m, ; Delta to Peach Bottom, Pa., 4 m. ; Dallastown June, to Dallastown, Pa., 1.2 m. — total, 85.2 m. ; total track (steel ; 56 and 70 Ibs.), 91.31 miles. Gauge, 4 ft. 81 in. Consolidation, Feb. 14, 1901, of the Balti- more and Lehlgh Ry. Co. (see MANUAL for 1900, page 187) and the York Southern RR. Co. (see MANUAL for 1900, page 212). Locomotives, 11. Cars — passenger, 21; baggage, mail and express 5; freight (box 86; stock, 4; flat, 11; coal, 15). 116; service, 6 — total, 148. Operations, year ending June 30, 1902. — Trains run (passenger, 237,672; freight 56986; other, 56,716), 351,374 miles. Passengers carried, 275,023; carried one mile 4024746 Tons freight moved, 201,399 ; ton-miles, 3,036,868. Earnings (passenger, $114,336 ; freight $135893- other, $17,123), $267,352. Operating expenses, $181,705. Net earnings, $85,647. Payments: In- terest on bonds, $70,498; taxes, $6,492 — total. $76,990. Surplus, $8,657; surplus forward ($17- 379; less deductions during year, $5,540), $11,839 — total, $20,496. General Balance Sheet, June 30, 1902. — Capital stock ($3,600,000 auth. ; $100 shares) $1,602,500; funded debt (see below), $1,699,950: current liabilities, $90,320; interest accrued $18,614 ; profit and loss, $20,497 — total, $3,431,881. Contra: Cost of road and equipment, $3,388 - 918 ; materials, etc., $12,465 ; cash and current assets, $30,498 — total, $3,431,881. Funded Debt outstanding, June 30, 1902, consisted of $249,950 ($47,500 series A, and $202 - 450 series B) York and Peach Bottom Ry. 5s of April 1, 1932 ; $550,000 1st gold 4s of Marcn i 1951. and $900,000 cumulative income 4s of April 1, 1951. The authorized issue of the 1st mtge' 4 p. c. bonds is $1,200,000 (reduced from $2,700,000 on Jan. 28, 1902), bonds amounting to $250- POOR'S MANUAL OF RAILROADS. 183 000 being reserved for the retirement, at or before maturity, of the two series of York and Peach Bottom Ry. bonds, and the balance for future needs of the company. The company reserves the right to redeem the 1st mtge. bonds at 105 and interest, and the income bonds at par and interest. Directors (elected Jan. 27, 1903). — J. Wilson Brown, W. W. Spence, W. B. Brooks, Jr., George C. Jenkins, Sol. Frank, Henry E. Young, John K. Cowen, J. W. Hall, Baltimore, Md. ; Howard E. Young, Hanover, Pa. ; H. C. Niles, York, Pa. OFFICERS: J. WILSON BROWN, Pres.; W. B. Brooks, Jr., Vice-Pres. ; John McHenry, Sec. & Treas. ; T. H. Fitchett, Asst. Treas. ; Austin McLanahan, Asst. Sec.; J. K. Shinn, Auditor, Baltimore, Md. GENERAL OFFICE, Baltimore, Md. MASSENA TERMINAL KB. — Massena Springs, N. Y., to Power House of the St. Law- rence River Power Co., 2 miles. Gauge, 4 ft. 8J in. Rail (steel), 56 Ibs. Chartered April 30, 1900 ; road built same year. Cars from connecting roads are run over this line at irregular intervals, but the company derives no revenue therefrom. The road will be regularly opened for business when the power plant of the St. Lawrence River Power Co. is in operation. Capital stock ($100 shares), $250,000; funded debt (1st 5s of May 1, 1930, int. M. & N.), $150,000 — total stock and bonds, $400 000. Trustee of bonds : Standard Trust Co., New York, N. Y. Directors. — T. H. Gillespie, T. A. Gillespie, Mark T. Cox, Edgar Park, W. J. Wilson, S. E. Potter, H. P. Davison, Robert A. Johnston, W. B. Wreaks, New York, N. Y. OFFICERS : MARK T. Cox, Pres. ; Edgar Parr, Vice-Pres. ; Henry P. Davison, 2d Vice-Pres. ; W. J. Wilson, Sec. & Treas., New York, N. Y. GENERAL OFFICE, Massena, N. Y. MEDIX RUN RR. — Medix Run to Huntley's Camp, Pa. 8 m. ; spur, 0.5 m. — total, 8.5 m. ; total track (steel; 40 Ibs.), 9.5 miles. Gauge, 4 ft. 8 in. Chartered Feb. 7, 1895; road opened in Sept., 1893. (See MANUAL for 1899, page 229.) Locomotives, 2. Cars (flat, 4; logging, 20), 24. Operations, year ending June 30, 1902. — Earnings (freight), $1,380. Operating expenses, $1,893. Deficit, $513. General Balance Sheet, June 30, 1902. — Capital stock paid in ($80,000 auth. ; $50 shares), $70,200; current liabilities, $12,184 — total, $82,384. Contra: Cost of road, $54,247 ; equipment, $12,058 ; materials, etc., $30 ; profit and loss, $16,049 — total, $82,384. Directors. — Geo. E. Dodge, New York, N. Y. ; J. H. Price, J. S. Purdy, Medix Run, Pa. ; Isaac S. Case, N. S. Brittain, Geo. H. Rhoads, Tobyhauna, Pa. ; G. W. Huntley, Driftwood, Pa. OFFICERS : GEO. E. DODGE, Pres.; Wm. J. Hunt, Sec., New York, N. Y. ; J. H. Price, Treas. & Gen. Supt.; J. S. Purdy, Aiid., Medix Run, Pa. GENERAL OFFICE, Medix Run, Pa. MERCER VALLEY RR.— Hickory Township, Mercer Co., Pa., to connection with Erie and Pittsburgh RR., 6 m. ; total track, 24 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Chartered Jan. 3, 1900. Operated in connection with the business of the Sharon Steel Co. Locomotives, 6. G-eneral Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $30,000; current lia- bilities, $231,543 — total, $261,543. Contra: Cost of road and equipment, $259,108 ; cash and cur- rent assets, $2,435— total, $261,543. Directors.- — John Stevenson, Jr., Jas. P. Whitla, David Adams, Sharon, Pa.; Wm. Flinn, Pittsburgh, Pa. ; George W. Darr, New York, N. Y. OFFICERS : GEORGE W. DARR, Pres., New York, N. Y. ; John Stevenson, Jr., Vice-Pres. & Gen. Mgr.; J. P. Whitla, Sec.; David Adams, Treas.; C. L. White, Aud., Sharon, Pa. GENERAL OFFICE, Sharon, Pa. MIDDLEBTJRGH AND SCHOHARIE RR. -Middleburgh to Schoharie, N. Y.. 5.33 m. ; total track (steel, 5.33 m.), 6.33 miles. Rail, 45 and 56 Ibs. Gauge, 4 ft. 8i in. Chartered May 8, 1867 ; road opened Oct. 19, 1868. Locomotive, 1. Cars — passenger, 1 ; service, 1 — total, 2. Operations, year ending June 30, 1902. — Passengers carried, 18,524 ; carried one mile, 74,096. Tons freight moved, 6,125; ton-miles, 32,646. Earnings (passenger, $4,631; freight, $5,169; other, $721), $10,521. Operating expenses, $7,363. Net earnings, $3,158. Payments: Interest on bonds, $900 ; taxes, $412 ; dividends (2 p. c.), $1,740 — total, $3,052. Surplus, $106 ; surplus for- ward, $3,021 — total, $3,127. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth.; $100 shares), $87,- 700; funded debt (refunding 5s of May 1, 1916), $18,000; current liabilities, $439; interest ac- crued, $150 ; dividends unpaid, $130 ; profit and loss, $3,127 — total, $109,546. Contra : Cost of road and equipment, $103,575 ; materials, etc., $124 ; cash and current assets, $5,847 — total, $109,546. Directors (elected March, 1903). — Duryea Beekman, G. L. Danforth, Dow Beekman, J. L. Engle, W. E. Bassler, H. A. Vroman, D. D. Frisbie, J. B. Badgley, W. H. Neville, G D. Frisbie, Alonzo Almy, Charles E. White, Middleburgh, N. Y. ; Emmet Haines, Fultonham, N.Y. OFFICERS : DURYEA BEEKMAN, Pres. ; Daniel D. Frisbie, Vice-Pres. ; Geo. L. Danforth, Treas. ; Dow Beekman, Sec., Middleburgh, N. Y. GENERAL OFFICE, Middleburgh, N. Y. MILFORD, MATAMORAS AND NEW YORK RR.— Matamoras, Pa., to Port Jervis, N. Y., 0.15 mile. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Chartered June 9, 1897; road completed as above in Dec., 1898. An extension is projected from Matamoras to Milford, Pa. This road con- nects with the Erie RR. at Port Jervis, N. Y. Operations, year ending June 30, 1902 (road operated during the month of September only). — Tons freight moved, 11,283; ton-miles, 1,471. Earnings (freight), $960. Operating expenses, $429. Net earnings, $531. Paid: Taxes, $777. Deficit, $246. Surplus forward, $272: net sur- plus, June 30, 1902, $26. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; taxes ac- crued, $777 ; profit and loss, $26 — total, $50,803. Contra : Cost of road, $50,000 ; cash and current assets, $803 — total, $50,803. Directors. — A. E. Lethbridge, L. H. Smith, P. Q. Deyo, C. W. Clarke, Brooklyn, N. Y. ; E. Monthemost, Milford, Pa. ; W. K. Ridgeway, Matamoras, Pa. ; Richard Falkland, Hoboken, N. J. OFFICERS: C. W. CLARKE, Pres.; P. Q. Deyo, Treas.; L. H. Smith, Sec., New York, N. Y. ; W. V. Hillard, Gen. Mgr., Milford, Pa. GENERAL OFFICE, 41 Pine Street, New York, N. Y. MOHNSVILLE AND ADAMSTOWN RR. — Mohnsville to Adamstown, Pa., 8 miles. Gauge, 4 ft. 8i in. Steel rail — weight not reported. Organized May 29, 1894; road opened in 1896-97. Locomotives, 2. Passenger cars, 3. Operations, year ending June 30, 1902.— Earnings (passenger, $3,301; other, $138), $3,439. Operating expenses, $7,011. Deficit, $3,572. General Balance Sheet, June 30, 1902. — Capital stock ($75,000 auth.), $22,992; funded debt (particulars not furnished), $52,048; current liabilities, $9,112 — total, $84,152. Contra: Cost of road, $75,299 ; cash and current assets, $100 ; profit and loss, $8,753 — total, $84,152. 184 POOR'S MANUAL OF RAILROADS MIDDLE ATLANTIC GROUP. Directors. — Esalas Billlngfelt, Henry O. Mohns. John Zerbe, Elmer E. Blllingfelt, S. W. Miller, L T. Ouster. Isaac S. Spatz. Henry C. Geissler, J. B. Sterley, Wellington Van Reed, Jas. W. Sheep, O F Mem. V. S. Seltzer, Reading. Pa. OFFICERS: L. T. OUSTER, Pres.; Esaias Billmgfelt, Vice- Pres.; V. S. Seltzer, Sec. A Treat.; J. H. Passmore, Gen. Mgr., Reading, Pa. GENEKAL OFFICE, Reading, Pa. MONONQAHELA CONNECTING- BB.— Orrnsby Station, P., V. & C. Ry., to Laughlin, B. & O. RR.. 0.85 m. ; P. & L. K. UK. connection and other branches, 4.41 in. — total, 5.26 m. ; total track (steel; 80 and 90 Ibs.), 30.30 miles. Gauge. 4 ft. 83 in. Chartered in 1885; road opened June 1. 1887. Locomotives, 20. Freight cars (gondola, 26; cabin, 2), 28; other (leased) 261 — a Operations, year ending June 30, 1902. — Earnings (freight, $462,318; other, $1,446), $463,- 764. Operating expenses, $257.240. Net earnings, $206,524. Payments: Interest on bonds, $34,- 250; taxes, $10,522 ; rentals, $174 — total, $44,946. Surplus, $161,578. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $750,000; funded debt (1st 5s of Feb. 12. 1921 ; $750,000 auth.), $685,000 ; construction and equipment,.$26,557 ; current liabilities, $40,591; interest accrued, $13,224: profit and loss, $246,646 — total. $1,762,018. Contra: Cost of road and equipment. $1,446,557 ; materials, etc., $34,155 ; cash and current assets, $281,- 306 — total, $1,762,018. Directors (elected Jan. 26, 1903). — B. F. Jones. Jr., W. W. Willock, W. L. King, W. L. Jones. J. B. Laughlin, W. C. Moreland, Irwin B. Laughlin, Pittsburgh. Pa. OFFICERS : B. F. JONES, JR., Pres.; W. W. Willock, Vicc-Pres. <£ Gen. Mgr.; W. C. Moreland, Sec. & Treas. ; John L. Moore, Asst. Sec. rf Aast. Treoa.; Frank McCune, Gen. Supt., Pittsburgh, Pa. GENERAL OFFICE, 3d Ave. & Try St, Pittsburgh, Pa. MONTOUB BB. — Montour June, to North Star, Pa., 13 m. ; total track (steel; 60 and 70 Ibs.), 18 miles. Gauge, 4 ft. 8J in. Chartered Sept. 10, 1877. Locomotives, 5. Cars — passenger, 3 ; freight, 110 — total, 113. Operations, year ending June 30, 1902. — Passengers carried, 53,710; carried one mile, 382,- 312. Tons freight moved, 457,870; ton-miles, 4,482,547. Earnings (passenger, $14,886; freight, $49,550; other, $3,333), $67,769. Operating expenses, $42,886. Surplus, $24,883. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $100,000; profit and loss, $161,184 — total, $261,184. Contra: Cost of road and equipment, $257,439; current assets. $3,745 — total, $261.184. Directors. — A. M. Neeper, F. L. Robbins, G. W. Schluderderg, F. J. Le Moyne, W. R. Wood- ford, J. D. Nicholson, Pittsburgh, Pa. OFFICERS: F. L. ROBBINS, Pres.; J. D. Nicholson, Vice-Pres. , • «nn «h«rPs> $200- Oeneral Balance Sheet, June 30. 1902.— Capital stock ($330 000 auth $50 « -). $200j 000; funded debt (1st (is of Jan. 1, 1911). $170,000; current liabilities, $6,267 , into not due. $6.100; profit and loss. $98,027— total. $479.394. Contra: Cost of road and equipment. $395.652; materials, etc.. $1.114; cash and current assets. $112.62S -total, *4^»,oJ . Directors (elected Jan. 22. 1903).— Arthur O. Yates. Rochester N. Y. . Adrian '^ «••"•' Ernwt Iselln. J. H. Hocart. C. O'D. Iselin. Walter G. Oakman New York, N. Y ; John Q. Whi more. Itldgwmy. Pa. ; B. M. Clark. Brookville. Pa. ; J. S. Hammond John Reed, F. H. Beck F. M Brown. Reynolds vllle. Pa. OFFICERS : Lucius W. ROBINSON, Pres., Punxs utawney^ Pa. , A rthur O. ( Yates, Vu-e-Pre«.; John F. Dinkey. Treos. <£ Aud., Rochester. N. Y. ; John G. Whltmore. Sec., R ay. Pa. QKNKHAL OFFICK, Reynoldsvllle, Pa. RockMray Galley SRR..' the Ro'ckaway Val'ley Mfg. and Construction Co., and the Mendham and Morristown Extension RR. Cos., which were sold under foreclosure on July 15, ll.WO, for 1899 page 237.) Locomotives, 2. Cars — passenger, 2; freight (flat), 10. ,i. 1902,-Capltal stock paid In. $125.000; funded debt (no de- tails obtainable), $125,000. Contra: Cost of road and equipment, $314,316. Directors. — Not reported. OFFICERS: CHAS. L. JACOBUS, Pres.; Louis E. Spencer, sec. & Treas. t New York, N. Y. NEW YORK OFFICE, 37 Wall Street. SCHOHARIE VALLEY BY. — Schoharie to Schoharie Junction, N. Y., 4.38 m. ; total track (.steel, 4.38 m.), 5.18 miles. Gauge, 4 ft. 8 In. Rail, 60 Ibs. Organized as Schoharie Valley Ry. Co. June 15, 1865. Road opened Oct. 1, 1866; sold under foreclosure April 6, 1874; reor- ganized April 1. 1880. Locomotive. 1. Cars — passenger (leased, 1), 2. Operations, year ending June 30, 1902. — Trains run (mixed), 8.225 miles. Passengers car- ried, 17,536; carried one mile, 76,807. Tons freight moved, 17,199; ton-miles, 75,371. Earnings (passenger, $4,384; freight, $8,600; other, $954), $13,938. Operating expenses, $5,907. Net earnings, $8,031. Payments : Interest on bonds, $1,950 ; taxes, $558 ; sinking fund, $1.050 ; divi- dend (3 p. c.), $3,000 — total, $6,558. Surplus, $1.473; less sundry charges, $62 — net surplus, June 30. 1902, $1,410. Deficit to June 30, 1901, $34,594 ; charged to construction for items pre- viously charged to operating expenses. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $100,000; funded debt (1st 5s of Jan. 1, 1930, $40,000 auth.), $38,000 ; sinking fund, $2,000 ; profit and loss, $1,410 — total $141,410. Contra: Cost of road and equipment, $140,000; cash and current assets, $1,410— total, $141,410. Directors. — David B. Vroman, Charles Vroman, Cornelius P. Vroman, W. J. Vroman, Arthur H. Woods, D. J. Vroman, Edward E. Vroman, Schoharie, N. Y. OFFICERS : CHAS. VROMAN, Pres. & Gen. Mgr.; C. P. Vroman, 2d Vice-Pres.; W. J. Vroman, Sec.; Arthur H. Woods, Treas. & O. P. & F. A., Schoharie, N. Y. GENERAL OFFICE, Schoharie, N. Y. SCOTTDAU3 CONNECTING- BB. — East Scottdale to Everson, Pa., 1 m. ; total track. 2.5 miles. Gauge, 4 ft. 9 in. Organized Sept. 16, 1897 ; road opened April, 1899. Locomotives (owned, 1; leased 2), 3. Operations, year ending June 30, 1902. — Tons freight moved, 105,697 ; ton-miles, 105,697. Earnings (freight), $14,444. Operating expenses, $14,468. Deficit, $24 ; deficit forward, $5,121 — total, $5,145. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $10,000; current lia- bilities, $14,362 — total, $24,362. Contra: Materials, etc., $1,837; cash and current assets, $17,- 380 ; profit and loss, $5,145 — total, $24,362. Directors (elected Jan. 10, 1903). — A. C. Overboil, J. D. Hill. B. F. Overholt, W. R. Hill, A. 8. R. Overholt, Scottdale, Pa. ; Ralph Overholt, Pittsburgh, Pa. OFFICERS : B. F. OVEUHOLT, Pres. ; A. C. Overholt, Vice-Pres.; J. D. Hill, Treas.; W. R. Hill, Sec., Scottdale, Pa.; Ralph Overholt, Gen. Mgr., Pittsburgh, Pa. GENERAL OFFICE, Scottdale, Pa. SCRANTON AND SPBING BROOK BB.— Moosic to Round Hole, Pa., 6 m. ; Round Hole to Quarry, Pa., 2 m. — total, 8 miles. Gauge, 4 ft. 8J in. Rail (steel, 6 m.), 50 Ibs. Char- tered Aug. 31, 1897; road opened same year. Locomotives, 2. Cars — passenger (leased), 1; freight (flat), 8 — total, 9. Operations, year ending June 30, 1902. — Earnings (freight), $7,217. Operating expenses. $7,304 ; taxes, $319 ; other charges, $500 — total, $8,123. Deficit, $906 ; deficit forward, $1,596 — total, $2,502. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $25,000; current lia- bilities, $22,547 — total, $47,547. Contra : Cost of road and equipment, $43,242 ; Investments, $976 ; cash and current assets, $827 ; profit and loss, $2,502 — total, $47,547 Directors. — L. A. Watres, C. D. Simpson, T. H. Watkins, H. P. Simpson, H. A. Knapp, Robert C. Adams, Scranton, Pa. OFFICERS : L. A. WATRES, Pres., Scranton, Pa. ; S. H. Hicks. Asst. Trcas., Wllkesbarre, Pa. GENERAL OFFICE, Scranton, Pa. SHEFFIELD AND TIONESTA BY. — Sheffield to Ross Run, Pa., 29 m. ; leased (Tionesta Valley and Hickory RR., Ross Run to Nebraska, Pa.), 5 m. — total, 34 miles. Rail (steel), 60 to 70 Ibs. Gauge, 4 ft. 8$ in. Chartered Jan. 6, 1900, and built the line from Sheffield to Kellittvllle, Pa.. 24 miles. Absorbed the Tionesta Valley and Salmon Creek Ry., from Kellittville to Ross Run, Pa., 6 miles, on June 1, 1901, and on the same date leased the Tionesta Valley and Hickory RR. Locomotives, 3. Cars (passenger, 2; baggage, etc., 1; flat, 32; logging, 4), 39. RAILROAD LEASED BY THE S. & T. RY. Co. TloneMa Valley and Hickory RR. — Nebraska to Ross Run, 5 miles. Rail (steel), 52 and 62 Ibs. Organized March 26, 1892. Leased to the Shef- field and Tionesta Valley Ry. Co., June 1, 1901, the consideration being an agreement on the lessee's part to keep the road In repair during the term of the contract. Balance Sheet, June 30, 1902. — Capital stock ($50,000 auth.; $50 shares), $33,000; profit and loss, $2,154 — total, $35,154. Contra: Cost of road, etc., $33,000; cash and current assets, $2,154 — total, $35,154. Truman D. Collins, Pres., Nebraska, Pa. ; Geo. F. \Vatson, Vice-Pres. ; Leon Watson, Sec. & Treas., Kelllttvllle, Pa. Office, Kelllttvilte, Pa. POOR'S MANUAL OF RAILROADS. 193 Operations, year ending June 30, 1902. — Trains run (passenger, 26,500; freight, 18,700), 45,200 miles. Passengers carried, 5,193 ; carried one mile, 72,705. Tons freight moved, 85,967 ; ton-miles, 1,719,354. Earnings (passenger, $3,272; freight, $30,088), $33,360. Operating ex- penses, $35,768 ; other deductions, $2,488 — total, $38,256. Deficit, $4,896. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $150,000; current lia- bilities, $61,521 — total, $211,521. Contra : Cost of road and equipment, $206,625 ; profit and loss, $4,896 — total, $211,521. Directors (S. & T. Ry.). — T. D. Collins, Mary S. Collins, Nebraska, Pa.; E. S. Collins, Os- trander, Wash. ; Leon Watson, Kellittville, Pa. ; Orion Siggins, West Hickory, Pa. OFFICERS : T. D. COLLINS, Pres.; Mary S. Collins, Vice-Pres., Nebraska, Pa.; Leon Watson, Sec. & Treas., Kel- littville, Pa. GENERAL OFFICE, Kellittville, Pa. SILVER LAKE BY.— Perry to Silver Springs, N. Y., 6.86 m. ; total track (steel, 6.86 m.), 7.61 miles. Rail — iron, 56 Ibs. ; steel, 60 Ibs. Gauge, 4 ft. 8J in. (For history, see MANUAL for 1888). Locomotives, 2. Cars — passenger, 3; baggage, etc., 1; freight (box, 20; coal, 615), 635 — total, 639. Operations, year ending June 30, 1902. — Trains run (passenger, 21,910; freight, 3,756), 25,- 660 miles. Passengers carried, 48,723 ; carried one mile, 194,892. Tons freight moved, 170,227 ; ton-miles, 1,021,362. Earnings (passenger, $10,438; freight, $19,127; other, $37,763), $67,328. Operating expenses, $38,158. Net earnings, $29,170. Payments: Interest on bonds, 42,350; taxes, $1,458 — total, $3,808. Surplus, $25,362 ; surplus forward ($303,770 ; less deductions dur- ing year, $49,294), $254,476. Surplus June 30, 1902, $279,838. General Balance Sheet, June 30, 1902. — Capital stock ($500,000 auth. ; $100 shares), $120,000; funded debt, $28,000; current liabilities, $41,148; profit and loss, $279,838 — total, $468,986. Contra : Cost of road and equipment, $354,427 ; materials, etc., $253 ; cash and cur- rent assets, $114,306 — total, $468,986. Funded Debt.— June 30, 1902, consisted of $20,000 ($68,000 auth.) 1st 5s of July 3, 1903; and $8,000 ($40,000 auth.) car trust bonds of Jan. 1, 1903. Directors. — Arthur G. Yates, F. W. Yates, Geo. E. Merchant, J. F. Dinkey, R. W. Davis. Geo. W. White, Geo. L. Eaton, Walter J. Howard, Rochester, N. Y. ; Harry Yates, Cyrus H. Policy, Buffalo, N. Y. ; W. D. Page, M. H. Olin, C. A. Carmlchael, Perry, N. Y. OFFICERS : HARRY YATES, Pres.; F. W. Yates, Vice-Pres.; Geo. L. Eaton, Treas.; C. H. Stallknight, Sec., Rochester, N. Y. GENERAL OFFICE, 1 Elwood Building, Rochester, N. Y. SKANEATELES KB. — Skaneateles Junction (N. Y. C. & H. R. RR.) to Skaneateles, N. Y., 5 m. ; total track (steel, 5 m.), 6 miles. Gauge, 4 ft. 81 in. Rail — iron, 60 Ibs.; steel, 60 Ibs. Incorp., April 17, 1866 ; road opened Oct. 1, 1867. The company owns a steamboat line on Skaneateles Lake, and has a traffic contract with the N. Y. C. & H. R. RR. Co., whereby that com- pany's cars are run over this road to connect with the steamboat line. Locomotives, 2. Cars — pas- senger, 3; baggage, etc., 1; freight (box), 2 — total, 6. Operations, year ending June 30, 1902. — Trains run (passenger, 21,590; freight, 14,640), 36,230 miles. Passengers carried, 40,660 ; carried one mile, 172,805. Tons freight moved, 55,- 024; ton-miles, 178,828. Earnings (passenger, $7,684; freight, $22,333; other, $2,706), $32,- 723. Operating expenses, $25,375. Net earnings, $7,348 ; other receipts, $578 — total, $7,926. Payments: Interest on bonds, $5,000; taxes, $1,074; dividends (2 p. c.), $2,000 — total, $8,074. Deficit, $148. Surplus forward, $6,816. Insurance received, $4,689. Total surplus June 30, 1902, $11,357. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $100,000; funded debt (1st gold 5s of Aug. 1, 1918), $100,000; loans and bills payable, $546; interest accrued, $2,083; other liabilities, $37; profit and loss, $11,357— total, $214,023. Contra: Cost of road and equipment, $202,083 ; materials, etc., $583 ; cash and current assets, $11,357 — total, $214,023. Directors. — W. K. Niver, Edward S. Teftt, Syracuse, N. Y. ; H. C. Du Val, New York, N. Y. ; Edgar Van Etten, Boston, Mass. ; John E. Waller, Frederick Roosevelt, J. McNamara, Skanea- teles, N. Y. OFFICERS : W. K. NIVER, Pres. & Treas., Syracuse, N. Y. ; George Barrow, Sec. ; 3. Mc- Namara, Gen. Mgr., Skaneateles, N. Y. GENERAL OFFICE, Skaneateles, N. Y. SLATE BUN BB. — Slate Run to North Bend, Pa., 15 miles. Rail (steel), 30 Ibs. Gauge, 3 ft. Incorp. Dec. 17, 1885 (charter dated Dec. 9, 1884) ; road opened July, 1886. Locomotives, 2. Cars— freight (flat). 56. Operations, year ending June 30, 1902. — Trains run (freight), 8,400 miles. Tons freight moved, 68,038; ton-miles, 1,020,570. Gross earnings (freight), $28,114; other receipts, $463 — total, $28,577. Operating expenses, $53,406 ; taxes, $391 — total, $53,797. Deficit, $25,220 ; deficit forward, $29.920 — total, $55.140. O-eneral Balance Sheet, June 30, 1902. — Capital stock ($160,000 auth. ; $100 shares), $81,- 000; current liabilities, $66,237 — total, $147,237. Contra: Cost of roafl and equipment, $81,000; current accounts, $11,097 ; profit and loss, $55,140 — total, $147,237. Directors. — Wm. H. Jessup, Wm. H. Jessup, Jr., H. C. Jessup, H. E. Hand, Scranton, Pa. ; James B. Weed, Binghamton, N. Y. ; Wm. S. Hill. New York, N. Y. OFFICERS : JAMES B. WEED, Pres.; F. M. Weed, Vice-Pres. & Treas.; F. D. Weed, Sec.; Lewis M. Weed, Gen. Mgr., Binghamton, N. Y. GENERAL OFFICE, Binghamton, N. Y. SOUTH BBOOKLYN BY. — Length of main line, in Brooklyn, N. Y., 1 m. ; second track, 1 m. ; total track (steel ; 65 and 67 Ibs.), 2 miles Gauge, 4 ft. 81 in. Organized Jan. 13, 1900, and acquired the railroad franchises and property of the South Brooklyn RR. and Terminal Co. (see MANUAL for 1899, page 238), sold under foreclosure, The main line extends from near the foot of 38th St., Brooklyn, on a line parallel with 38th St. (on the company's property), to a junction of 38th St. and 9th Ave. In Feb., 1902, the property was purchased by the Brooklyn Rapid Transit Co. Operations, year ending June 30, 1902. — Earnings, $4,620 ; rental of buildings and property, $10,563 — total receipts, $15,183. Operating expenses. $6,077; interest on real estate mtges., $2,621 ; taxes, $5,674 — total, $14,372. Surplus, $811. Deficit forward. $4,656. Credit for ad- justment of account " bills payable," $10,000. Net surplus, June 30, 1902, $6,155. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $150,000; real estate mortgages, $296,640 ; loans and bills payable, $50,000 ; interest accrued, $2,109 ; • taxes accrued, $2,827 ; profit and loss, $6,155 — total, $507,731. Contra : Cost of road and equipment, $503,506 ; cash and current assets, $4,225 — total, $507,731. Directors. — E. W. Winter, Henry Seibert, D. H. Valentine, H. C. Du Val, W C Bryant J. L. Wells, T. S. Williams, C. D. Meneely. OFFICERS: E. W. WINTKB, Pres.; T. S. Williams 194 POOR'S MANUAL or RAILROADS — MIDDLE ATLANTIC GROUP. rice-Prea.; C. D. Meneely. 8«c. 4 Treat., Brooklyn. N. Y. GENERAL OFFICE, 168 Montague St.. Brooklyn. N. V. SOUTH BRANCH BB.— South Branch June, to Jury, Pa., 5.67 m; trackage RR.. South Branch June., to Mount Jewett, Pa.). 2.33 m.— total track. 9.20 miles. Organized May 7.1897. Locomotive*, 2. Care— passenger. 1 ; freight. 53— total. 54. Operations, year ending June 30. 1902.— Tons freight moved. 30,302; ton-miles, 242,416. Earnings (passenger. $623; freight, $8.579). $9.202. Operating expenses, $6,239. Net earnings. $2,963. Deductions, $379. Surplus. $2.584 ; surplus forward, $13.811— total. fl6.3f General Balance Sheet. June 30. 1902.— Capital stock. $60,000 ; current liabilities, $597 . profit and loss. $16,395 — total, $76,992. Contra : Cost of road and equipment, $60,000 ; cash and current assets. $16.992— total. $76.992. Directors.— Herbert C. Rich. Horace C. Rich. L. G. Wilson. W. V. Andrews, C. R. Rich, F. F. Hinman. E. E. Keith. Granere. Pa. OFFICERS: HERBERT C. RICH, Pros.; Horace C. Rich, Vtce- Pres. d 0«i». Mgr.; W. F. Andrews, Bee.; L. G. Wilson, Treat; E. E. Keith, Awl., Granere, Pa. GENERAL OFFICE, Granere, Pa. SOUTH BUFFALO BB. — West Seneca to Buffalo. N. Y., 6.8 miles. Gauge, 4 ft. 81 In. Rail (steel), 80 Ibs. Chartered April 25, 1899. Commenced operations July 1, 1902. Loco- motives, 6. • General Balance Sheet, June 30. 1902. — Capital stock ($100 shares). $500,000; current liabilities, $150,000 — total, $650,000. Contra : Cost of road and equipment, $638,950 ; cash on hand, $11,050 — total, $650,000. Directors. — Walter Scranton, East Orange, N. J. ; Moses Taylor, Mt. Kisco, N. Y. ; Henry R. Taylor, J. P. Higginson, F. F. Graham, New York, N. Y. ; J. J. Albright, Edmund Hayes. John G. Mllburn, Henry Wehrum, Buffalo, N. Y. OFFICERS: WALTER SCRANTON, Pres.; Moses Taylor, Vice-Pres.; J. W. Farquhar, Sec.; J. P. Higginson, Treas. ; S. B. Cox, Asst. See.; F. F. Gra- ham Asst. Treas., New York, N. Y. ; Henry Wehrum, Gen. ttgr., Buffalo, N. Y. GENERAL OFFICE, West Seneca, N. Y. New York City Office, 100 Broadway. SOUTH SHOBE BB. — Projected : Borough of Esplen, Pa., to 30th St., Pittsburgh, Pa., 4.87 miles. Completed up to June 30, 1902, 1.50 mile& Gauge. 4 ft. 81 in. Rail (steel), 85 Ibs. Or- ganized Sept. 14, 1892. Locomotives, 2. Cars (flat, freight), 6. Operations, year ending June 30, 1902. — Tons freight moved, 290,632. Earnings (freight), $24,919. Operating expenses, $24,631. Net earnings, $288. Surplus forward, $14,754 ; total, $15,042. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $10,OOO ; current lia- bilities, $15,241 ; profit and loss, $15,042 — total, $40,283. Contra : Cost of road and equipment, $36 496 ; cash and current assets, $3,787 — total, $4O,283. Directors. — J. W. Friend, T. W. Friend, Pittsburgh, Pa. ; F. N. Hoffstot, New York. N. Y. OFFICERS : J. W. FRIEND, Pres., Allegheny, Pa. ; F. N. Hoffstot, Sec., Treas. d Supt.; T. W. Friend, Awl., Pittsburgh, Pa. GENERAL OFFICE, Pittsburgh, Pa. STERLING MOUNTAIN BY. — Sterlington to Lakeville. N. Y., 7.6 m. ; total track (steel, 7.45 m.), 8.6 miles. Gauge, 4 ft. 81 in. Rail — iron, 56 Ibs. ; steel, 60 Ibs. Chartered May 18, 1864 ; road opened Nov. 1, 1866. This company's business consists in carrying the products and supplies of the Sterling Iron and Ry. Co., the latter company owning all its capital stock except shares required to qualify its directors. Locomotives, 2. Cars — freight, 1; service (1 leased), 2. Operations, year ending June 30, 1902. — Trains run (mixed), 7,859 miles. Passengers car- ried, 851 ; carried one mile, 6,199. Tons freight moved, 49,880 ; ton-miles, 377,620. Earnings (passenger. $202; freight, $7,480), $7,682. Operating expenses, $7,283. Net earnings, $399; other receipts, $225 — total, $624. Paid: Taxes, $790. Deficit, $166; deficit forward, $142,709 — total, $142,875. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $80,000; funded debt (Income 7s of May 2, 1881, due date not reported), $475,674; current liabilities, $100,905; inter- est accrued, $180 — total, $656.759. Contra : Cost of road and equipment, $513,884 ; profit and loss, $142,875 — total, $656.759. Directors. — James Day Rowland, Jay Cooke, Jr., W. H. Hollis. Jas. P. Scott, Philadelphia, Pa. ; Geo. F. Maxwell, Peter T. Barlow, Macgrane Coxe, New York, N. Y. ; Benj. Moffatt, Sr., B. Moffatt. Jr.. Sterlington, N. Y. OFFICERS: JAMES DAY ROWLAND, Pres.; Jay Cooke, Jr., Sec.; Benj. Mof- fatt, Jr., Treas. & Supt., Sterlington, N. Y. GENERAL OFFICE, Sterlington, N. Y. STEWABTSTOWN BB. — New Freedom to Stewartstown, Pa., 7.2 m. ; total track (steel; 66 Ibs.), 8.45 miles. Gauge, 4 ft. 81 In. Chartered Sept., 1884 ; road opened Sept. 12, 1885. Loco- motive, 1. Cars — passenger, 2 ; flat, 1 — total, 3. Operations, year ending June 30, 1902. — Passengers carried, 16,930. Tons freight moved, 17,265. Earnings (passenger, $2,694: freight, $9.336; other, $1,055), $13,085. Operating ex- penses, $12,435. Net earnings, $650. Payments: Taxes, $910 ; dividends (2 p. c.), $1,400 ; other charges. $2.500 — total. $4,810. Deficit, $4,160 ; surplus forward, $3,462 — net deficit, $698. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth.), $70,000; current liabilities, $698 ; profit and loss. $35,376 — total, $106,074. Contra : Cost of road and equipment, $105,421 ; real estate, $353 ; materials, etc., $300 — total, $106,074. Directors.— (elected Jan. 12, 1903).— Jacob Yost. W. H. Fulton, Wm. Hammill, A. G. Bowman, J. A. Johnson, A. T. Grove. W. J. P. Gemmill, C. W. Shaw, Stewartstown, Pa. ; M. W. Bahn, York, Pa. ; J. Y. Keeney, Shrewsbury, Pa. ; John C. Wiley, Gatchellville, Pa. ; F. P. Whitcroft. Baltimore, Md. OFFICERS : J. W. ANDERSON, Pres., Stewartstown, Pa. ; M. W. Bahn, Vice-Pres. & Gen Mgr., York, Pa.; Thos. B. Fulton, Treas.; \. G. Bowman, Sec.; C. W. Shaw, And., Stewartstown, Pa. GENERAL OFFICE, Stewartstown, Pa. 8U8QUEHANNA AND BUFFALO BB. — Cook Run, Pa., to Foot of Plane. 1.5 m. ; total track (steel; 60 Ibs.), 2.5 miles. Gauge, 4 ft. 81 in. Organized Sept. 22, 1891; road opened in June, 1888. Locomotives, 2. Operations, year ending June 30, 1902. — Earnings (freight, $7,893; other, $100), $7,993. Operating expenses, $8,623. Deficit, $630 ; deficit forward, $5,915 — total, $6,545. General Balance Sheet, June 30, 1902. — Capital stock ($180,000 auth.; $50 shares), $144.- 000; current liabilities, $28,728; miscellaneous, $6,136 — total, $178,864. Contra: Cost of road and equipment, $46,362; due on capital stock, $123,840; cash and current assets, $2,117; profit and loss. $6,645 — total, $178,864. Directors (elected Sept. 13. 1902). — J. Henry Cochran, G. D. Tinsman, Jos. W. Cochran, Gar- POOR S MANUAL OF RAILROADS. 195 ret Cochran, Wm. H. Tinsman, Frank Parsons, H. H. Blair, Williamsport, Pa. ; G. L. Miller, West- port, Pa. OFFICERS : J. HENRY COCHHAN, Pres., Williamsport, Pa. ; G. L. Miller, Vice-Pres., West- port, Pa. ; John S. Brown, Treas.; Garret D. Tinsman, Sec., Williamsport, Pa. GENERAL OFFICE, Williamsport, Pa. SUSQTJEHANNA AND NEW YORK RR. — Projected : Towanda, Pa., to Binghamton, N. Y., 50 m. ; Powell to Ansonia, Pa., 75 m. — total, 125 miles. In operation, March 15, 1903 : Towanda to Ralston, Pa., 42.73 m. ; Ralston to McCrackens, Pa., 18.73 m. — total, 61.46 m. ; total track (steel; 60 to 80 Ibs), 70.21 miles. Gauge, 4 ft. 8J in. Consolidation, May 24, 1902, of the Barclay RR. Co. (see MANUAL for 1902, page 167) and the Binghamton, Towanda and Western RR. Co. The road is under construction and is expected to be completed in the summer of 1903. Loco- motives, 7. Cars — passenger, 3 ; baggage, etc., 2 ; freight ( box, 5 ; flat, 145 ; logging, 25 ; gon- dola, 21), 196; service, 3 — total, 204. Operations, 6 months ending Dec. 31, 1902 (16 miles operated). — Gross receipts, $29,305; operating expenses and taxes, $15,814 ; net earnings, $13,491. Financial Statement, Dec. 31, 1902. — Capital stock authorized ($100 shares) $2,200,000; paid up, $1,250,000. P"unded debt authorized, $2,000,000 ; no bonds yet issued. Directors. — J. A. Hill, Powell, Pa. ; C. S. Horton, A. E. Botchford, A. T. Thomp*n, C. B. Farr, Williamsport, Pa. ; F. H. Goodyear, Buffalo, N. Y. ; E. C. Hoyt, A. A. Healey, J. J. Lapham, Eugene Horton, M. F. Hammond, L. H. Lapham, New York, N. Y. OFFICERS : C. S. HORTON, Pres. £ Gen. tfgr., Williamsport, Pa.; E. C. Hoyt, Vice-Pres. ; M. F. Hammond, Sec., New York, N. Y. ; A. E. Botchford, Treas., Williamsport, Pa. GENERAL OFFICE, Williamsport, Pa. ST7SQTJEHANNA, BLOOMSBURG AND BERWICK RR.— Watsontown to Millville, Pa., 22 miles. Gauge, 4 ft. 8J in. Reorganization of the Central Pennsylvania and Western RR., which was sold under foreclosure on March 10, 1902. An extension, 20 miles in length, was under construction in March, 1903, and expected to be ready for operation by July, 1903. Locomotives, 6. Passenger cars, 3; combination cars, 2 — total, 5. Capital stock auth. ($50 shares), $1,000,- 000. Funded debt auth. ($1,000 bonds), $700,000. Directors. — S. T. McCormick, E. R. Payne, Williamsport, Pa. ; F. H. Eaton, New York, N. Y. ; E. B. Tustin, Bloomsburg, Pa..-, J. L. Mitchell, Philadelphia, Pa. ; C. H. Dickerman, Milton, Pa. OFFICERS : J. HENRY COCHRAN, Pres., Williamsport, Pa. ; F. H. Eaton, Vice-Pres., New York, N. Y. ; Charles Cochran, Treas., S. B. Haupt, Gen. Mgr., Williamsport, Pa. GENERAL OFFICE, Watsontown, Pa. TIONESTA VALLEY RY. — Dunhams to Oglesby, Pa., 58 m. ; sundry branches, 16.3 m. — total, 74.3 m. ; total track (steel; 35 Ibs.), 87.3 miles. Gauge, 3 ft. Consolidation, Aug. 3, 1894, of the Tlonesta Valley, the Sheffield and Spring Creek, the Cherry Grove, and the Warren and Farns- worth RR. Cos. (See MANUAL for 1885, page 105.) The extension from Lamona to Oglesby, 11 m., was opened during the year 1898-99. Locomotives, 6. Cars — passenger, 4 ; freight, 384 ; other, 2 — total, 390. Operations, year ending June 30, 1902. — Trains run (passenger, 38,064; freight, 67,036), 105,100 miles. Passengers carried, 24,135 ; carried one mile, 175,365. Tons freight moved, 183,- 357; ton-miles, 3,748,869. Earnings (passenger, "$9,521 ; freight, $117,868), $127,379. Operat- ing expenses, $99,003. Net earnings, $28,376. General Balance Sheet, June 30, 1902.— Capital stock ($50 shares), $350,000; current lia- bilities, $46,249; deductions, $41,703; profit and loss, $11,342 — total, $449,294. Contra: Cost of road and equipment, $438,665 ; cash and current assets, $10,629— total, $449,294. Directors (elected Jan. 12, 1903). — A. H. Bailey, H. A. Crary, M. D. Crary, C. J. Gibson, B. B. Horton, H. A. Pinney, C. H. Smith, Jerry Crary, Sheffield, Pa. ; James Horton, J. J. Lapham, New York, N. Y. ; B. McOwen, Clarendon, Pa. OFFICERS : JERRY CRAHY, Pres. ; H. A. Crary, Vice- Pres.; Wm. McCray, Treas.; R. G. Brownell, Sec.; Geo. C. Darling, Aud. ; C. J. Gibson, Gen. 8upt., Sheffield, Pa. ; James Horton, Gen. Mgr., New York, N. Y. GENERAL OFFICE, Sheffield, Pa. TUCKERTON RR. — Whiting's Station, N. J., to Tuckerton, N. J., 29 m. ; Tuckerton to Edge Cove, N. J. (not in operation), 2 m. — total, 31 m. ; total track (steel, 23.5 m.), 32.5 miles. Rail — iron, 50 Ibs. ; steel, 60 Ibs. Gauge, 4 ft. 9 in. Chartered March 26, 1866 ; road opened Nov. 1, 1871; reorganized 1880. Locomotives, 3. Cars — passenger, 2; baggage, etc., 1; freight (box, 5; flat, 10), 15 — total, 18. Operations, year ending Dec. 31, 1902. — Earnings (passenger, $24,979; freight, $27,382; other, $6,688), $59,049. Operating expenses, $44,334. Net earnings, $14,715. Payments: inter- est on bonds, $5,993; other interest, $34; taxes, $1,208 — total, $7,235. Surplus, $7,480; surplus forward, $11,632— total, $19,112. General Balance Sheet, Dec. 31, 1902. — Capital stock (see below), $550,992 ; funded debt (1st 6s of July 8, 1910; $100,000 auth.), $99,882; current liabilities, $859; profit and loss, $19,112 — total, $670,845. Contra : Cost of road, $556,770 ; equipment, $75,247 ; real estate, $30,000 ; cash and current assets, $8,828 — total, $670,845. Capital Stock. — Capital stock authorized consists of $125,000 common stock and $500,000 preferred stock, in $50 shares,; amounts paid in — common, $105,617.80; preferred, $445,373.74. Directors. — T. T. Price, Theo. P. Price, Tuckerton, N. J. ; Rutherford Stuyvesant, New YorV. N. Y. ; Richard Ashhurst, Lewis R. Ashhurst, Jr., Walter W. Pharo, Wm. Selfridge, Philadelphia. Pa. ; Herbert A. Drake, G. G. Browning, Camden, N. J. OFFICERS : RICHARD ASHHURST, Pres. & Treas. ; Walter W. Pharo, Vice-Pres. ; Wm. Selfridge, Asst. Treas., Philadelphia, Pa. ; T. T. Price, Sec., Tuckerton, N. J. GENERAL OFFICE, Tuckerton, N. J. TT7SCARORA VALLEY RR. — Port Royal to Blair's Mills, Pa., 27 miles. Gauge, 3 ft Rail (steel), 30 to 65 Ibs. Chartered in April, 1891 and 1893; road opened from Port Royal to East Waterford, 17.5 m., in Feb., 1893 ; extended to Blair's Mills in 1896. Locomotives, 3. Cars — .passenger, 4 ; baggage, etc., 1 ; freight, 25 — total cars, 30. Operations, year ending June 30, 1902. — Trains run (mixed), 135,216 miles. Passengers car- ried, 22,039. Tons freight moved, 16,862. Earnings (passenger, $8,058 ; freight, $17.201), $25,- 259. Operating expenses, $12,630. Net earnings, $12,629. Deductions, $13,719. Deficit for year, $1,090. General Balance Sheet, June 30, 1902.— Capital stock ($300,000 auth.; $50 shares), $150,- 000; funded debt (1st gold 5s of July 1, 1917), $150,000; current liabilities, $6,556; profit and loss, $137 — total, $306,693. Contra: Cost of road and equipment, $305,663; cash and current assets, $1,030 — total, $306,693. Directors. — T. S. Moorhead, John C. Moorhead, Port Royal, Pa. ; John M. Blair, Blair's Mills, Pa. ; G. S. Conn. McCullough's Mills, Pa. ; Wm. Kraft. New York, N. Y. ; L. S. Catlln, Bridgeport, 196 POOR'S MANUAL OP RAILROADS MIDDLE ATLANTIC GROUP. Conn. OmcBBB : T. S. MOOBHEAD, Pret. d Gen. M gr. ; J. C. Moorhead, Vice-Fret. A Treaa. ; D. B. McWilllama. Sec., Port Royal, Pa. GKNBBAL OKFICK, Port Royal. Pa. UNADILLA VALLEY RY.— Bridgewater to New Berlin. N. Y., 19.14 m. ; total track (steel; 56. 60 and 70 Ibs.), 2O.93 miles. Gauge, 4 ft. «i in. Chartered Jan. 27, 1890; road opened throughout. July 25. 1895. Locomotives, 2. Cars — passenger, 2 ; freight (box. 4 ; flat, 6), 10 ; service. 4 — total, 16. Operations, year ending June 30. 1902. — Trains run (passenger, 29,800; freight, 13,443), 43 243 miles. Passengers carried, 24,795 ; carried one mile, 238,087. Tons freight moved, 23,- 274; ton-miles, 287,083. Earnings (passenger, $10,132; freight, $21,369; other, $2,602), $34,- 103. Operating expenses, $27,015. Net earnings. $7,088; other receipts, $342 — total, $7,430. Payments: Interest on bonds. $12.500; taxes. $695— total. $13,195. Deficit. $5.765. Deficit for- ward ($68.144. less sundry adjustments, $7,292), $60,852. Total deficit, $66,617. General Balance Sheet, June 30, 1902. — Capital stock ($200,000 auth. ; $100 shares), $184,700; funded debt (see below), $277.618; loans and bills payable, $650; income bonds sub- scriptions, $1,662 ; matured Interest extended, $50,000 ; current liabilities, $14,467 ; unpaid coupons. $13,000; Short Line Construction Co.. $57,474 — total, $600,171. Contra: Cost of road and equipment; $525.248 ; materials, etc., $4,712 ; cash and current assets, $3,594 ; profit and loss, $66,617 — total. $600,171. Funded Debt.— Funded debt, June 30, 1902, consisted of $250.000 1st gold 5s of Jan. 2, 1933. and $27,618 ($32,000 auth.) income 5s of Sept. 1, 1913. Directors. — Ralph Brandreth, Sing Sing, N. Y. ; Gustav C. Henry, Frederic F. Culver, A. 8. White. Clarence Goadby, Wm. L. Skidmore, Lewis R. Morris, New York, N. Y. OFFICERS : F. F. CULVEB, Pret. <£ Gen. Mgr., New York, N. Y. ; Ralph Brandreth, Vice-Prea., Sing Sing. N. Y. ; G. C. Henry, Treos.; Clarence Goadby, Sec., New York, N. Y. GENERAL, OFFICE, 137 Broadway, New York, N. Y. URSINA AND NORTH FOBK BY. — Ursina (Pittsburgh Dlv. B. & O. RR.) to Edna Mines, Pa., 5 miles. Rail (steel), 45 to 67 Ibs. Gauge, 4 ft. 8J in. Chartered Feb. 23, 1882, as successor to the U. & N. F. RR. Co. Locomotive, 1. Car (passenger), 1. Operations, year ending June 30, 1902. — Passengers carried, 2,359. Tons freight moved, 47,- 609. Earnings (passenger, $598; freight, $2,488), $3,086. Operating expenses, $5,443; other deductions, $3.500 — total, $8,943. Deficit, $5,857. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $20,000; advanced by stockholders, not adjusted, $10,000; current liabilities, $47,976 — total, $77,976. Contra: Cost of road, $67,700 ; equipment, $3,836 ; current assets, $261 ; profit and loss, $6,179 — total, $77,976. Directors. — Geo. J. Humbert, Connellsville, Pa. ; John Murray Mitchell, Chas. W. Hogan, Wilfred Johnson, Z. Taylor Emery, W. A. Kissam, New York, N. Y. ; E. H. Reid, Scottdale, Pa. ; I. T. Huff. Ursina, Pa. OFFICERS : GEO. J. HUMBERT, Pres., Connellsville, Pa. ; John Murray Mitchell, Vice-Prea.; W. A. Kissam, Sec.; Geo. J. Bradish, Treaa., New York, N. Y. GENERAL OFFICE, Ursina, Pa. VAIXEY CONNECTING RR. — Hickory Township to Sharon, Pa., 0.86 mile. Gauge. 4 ft. 8J in. Rail (steel), 70 Ibs. Chartered July 28. 1898, and purchased the railroad as above from the Stewart Iron Co., Limited. The company does a terminal and switching business for connecting roads. Locomotives, 3. Service cars, 14. Operations, year ending June 30. 1902. — Tons freight moved, 307,005 ; ton-miles, 356,982. Earnings (miscellaneous), $12,386. Operating expenses, $12,252. Net earnings, $134. Paid: Taxes, $134. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $10,000. Contra: Cost of road and equipment, $9,600 ; materials, etc.. $400 — total, $10,000. Directors (elected Feb. 3. 1903). — Chas. F. Phillips, Edward W. Budd, Chas. N. McClure, Samuel McClure, Sharon, Pa. ; Fayette Brown, Harvey H. Brown, D. B. Chambers, Cleveland, O. OrncEBS : SAMUEL MCCLUBE, Pres. t - ness. Cost of Road. Miles Gross )|)or- Knrn- ated. ings. Net Earn- ings. Net Income. First Charges. Better- ments. Divi- dends. Total Pay- ment*. Balance Surplus. $ $ $ $ $ $ $ $ $ $ 1896... . 1,232 200 1.232 200 2,46-1,400 86.2 534,115 213,456 219,815 91,331 53156 73,932 219,669 146 1897 .. . 1,232.200 1,232200 2.464,400 86.2 554,447 219.830 232,849 92,639 73,932 231,282 1 567 1898 1,232,200 1,232 200 2,464,400 86.2 575.259 227,496 241,377 95,673 73932 240394 3983 1899 . . 1,232.200 1,232 200 2,464.400 86.2 606.664 238,128 245,924 95.356 73,932 244,713 1,211 1000. . . . 1.232.200 1.232200 2,464,400 86.2 702,472 267.705 27S.326 95.591 75000 73,392 256,073 22,253 1991... 1.232.200 1.232200 2.464.400 92.2 740.689 255,009 258,841 104.493 .56088 73932 248 816 10,025 1902. 1.232.208 1.232200 4.464.400 92.2 763.712 297.304 3(1:2.376 113.S32 90.964 73.932 278.728 23.648 POOR'S MANUAL OF RAILROADS. 199 6. General Balance Sheet, June 30, 1902. Franchise and Property $2,464,400 00 Real Estate U, 408 50 Stocks Owned 2,500 00 Material and Supplies 32,915 32 Current Accounts 37,29866 Cash In Banks and on Hand 316,387 07 Cash in Transit 10,420 27 Total Assets $2,875,329 82 Capital Stock ($100 shares) $1,232,20000 Certificates of Indebtedness 1,232,20000 Interest Accrued, not yet Payable 36,966 00 Taxes Accrued, not Due 10,547 88 Reserve for Improvements 217,00000 Current Liabilities 30,478 39 Profit and Loss 115,937 55 Total Liabilities $2,875,329 82 7. Certificates of Indebtedness. — The certificates of indebtedness were issued in 1881 in the shape of a dividend. They are for $100 each, or multiples thereof, in registered form, bearing interest at 6 p. c. per annum, payable Jan. and July, in Atlanta, Qa. They are dated July, 1881, and are payable at the option of the company. 8. RAILROAD LEASED BY THE ATLANTA AND WEST POINT RR. Co. ATLANTA BELT LINE Oakland to At- lanta, Ga., 6 miles. Gauge, 4 ft. 81 in. Rail (steel), 60 Ibs. HISTORY. — Chartered Oct. 17, 1899; road opened Dec. 1, 1900. Leased to the A. & W. P. RR. Co. for 99 years from Dec. 1, 1900, at a rental of $16,000 per annum. This company has joint use of agency and terminals in Atlanta, under a lease from the Georgia RR., for a term of years expiring April 1, 1980. FINANCIAL STATEMENT. — Capital stock paid in ($500,000 auth.), $400,000, representing cost of road. CORPORATE OFFICERS. — C. A. Wickersham, Pres. ; F. H. Hill, Sec. & Treas. ; F. A. Healy. Aud., Atlanta, Ga. 9. Board of Directors, A. d W. P. RR. Co., elected October 21, 1902. C. A. Wickersham. .Atlanta, Ga, I John M. Egan. .Savannah, Ga. J. F. Hanson Macon, Ga. I H. C. Fisher Newman, Ga. W. B. Berry Newman, Ga. M. H. Smith.... Louisville, Ky. H. Walters Wilmington, N. C. CHAS. A. WICKERSHAM, President and General Manager. . .Atlanta, Ga. Secretary and Treas. — F. H. Hill.. Atlanta, Ga. | Auditor — F. A. Healy Atlanta, Ga. PRINCIPAL OFFICE AND ADDRESS Atlanta, Ga. ATLANTIC COAST LINE COMPANY. (For map of this system, see page 201). Organization and Property. — This company was organized on May 29, 1889, under the laws of Connecticut. It owns or controls a connected system of railroads extending from Richmond, Va., and Norfolk, Va., to Atlanta, Ga., Montgomery, Ala., and Punta Gorda, Fla., reaching Wilmington, N. C., Charleston, Port Roydl and Columbia, S. C., Augusta, Macon, Savannah and Brunswick, Ga., Jacksonville and Port Tampa, Fla., and numerous other points in the South Atlantic States. The following statement shows the mileage of the Atlantic Coast Line system on July 1, 1902: Atlantic Coast Line Railroad, as operated June 30, 1902.. 1,756.50m. Savannah, Florida and Western Railway, operated from July 1, 1902 1,833.25 m.— 3,589.75 miles. Charleston and Western Carolina Railway 339.58 " Northwestern Railroad of South Carolina 69.62 " Sanford and St. Petersburg Railroad 153.33 " The Florida Southern Railroad 243.53 " Total length of railroads controlled by A. C. L. Co., July 1, 1902.. 4,395.81 miles. The Savannah, Florida and Western Ry., Sanford and St. Petersburg RR. and The Florida Southern RR., were operated under a lease to The Plant Investment Co. until midnight on June 30, 1902, therefore the statistics of those roads are not included in the following tables. Summary of Controlled Roads. — The following statements exhibit the mileage, equipment, capitalization, and cost of the railroads embraced in the system on June 30, 1902, together with the results of operating them for the fiscal year ending on the same date: 200 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. Mileage, equipment, and capital accounts, all lines, June 30, 1902. RAILROADS. MILBAOE. t '% 201 JiEVENUK CABS. CAPITAL LIABILITIBS. Cost of Road and Equip- ment. Main Track. Total Track. Steel Raila, $ It ! Stocki. Bond*. Total. AtlantifC. L.RR... M. 1.070.90 40.20 10.50 339.58 65.30 M. l.'.M.i.'l 41.71 12.23 390.97 66.50 M. I >.:».Vi:t . 40.20 10.50 367.47 48.50 136 46 6,767 S 42,000.000 170,000 100.000 1,200,000 100,000 $ 24.526,500 300,000 104,600 5,150,000 285.000 1 66,526,500 470,000 204,600 6.350,000 385,000 $ 66,989.319 470,000 204.600 6,328,909 386.183 CeotralRR.of8.C. .. So. CM. Pac. RR..... Chw.4W.Car.Ry. I August* Term. Ry ) N.W.RR.ofS.C. 29 4 234 20 4 8 1 SCO ToUb 2.126.4« 2,493.10 2.161.80 160 55 7.627 43,570,000 30.366.100 73,936,100 74.379,011 Traffic operations and gross earnings, year ending June 30, 1902. RAILROADS. TRAIN MILBAOB. PAS*. TRAFFIC. FREIGHT TRAFFIC. GROSS EARNING*. Pan- singer. Freight. Pas- SBflgBfB. Mileage. TOM. Ton- Milrg. Pas- senger. Freight. All Sources. At C L RR . . Char.*W.C.Rv N.W.RR.ofS.C Totala, Af. 2.263.256 308,476 17,073 Af. 2,556,900 386.733 69.381 No. 1,699,542 213,954 Af. 82,179,619 6,052,223 No. 3,147,453 588,697 Af. 434,696,989 44,063,041 $ 1,753,813 155.659 12,949 5,978, 108 689,785 66,979 t 8,549.526 951,873 82,148 2,588.805 3.013.014 1,913,496 88.231,842 3,736,150 478,760,030 1,922,421 6.734.873 9.583.547 Net revenue and payments therefrom, year ending June 30, 1902. RAILROADS. NET REVENUE. PAYMENTS FROM AVAILABLE REVENUE. Surplus Bal- ance. Net Earn- ings. Other Re- ceipts. Income. Interest. Dividends. Other Ch-trges. Total Payment*. Atlantic Coast Line RR. . . . . ) Central RR. of So. Car V S 3.810,539 240,428 40.999 $ 61,626 16.275 811 $ 3.872.165 256,703 41,840 S ( 1,198,177 -^ 18,000 j 6,276 1 138,730 1 36,000 11,400 $ 1.498,657 pc. $ 361,606 ) $ 3.095,716 217.930 21,350 S 776.449 38,773 20,490 12,000 1,000 V South Carolina Pacific Ry ) Charleston A West Car. Ry / Augusta Terminal Rv . . . ( 43,266 » Northwestern RR. of So. Car 6,000 6 3,950 Totals. 4.091,966 78,712 4.170,708 1,408,583 1,516,657 409.756 3,334.9% 835.71Z General Balance Sheet, Atlantic Coast Line Company, June 30, 1902. ASSETS. Bonds and Stocks (total, $11,000,000) Deposited with Safe Deposit and Trust Co. of Baltimore, trustee, to secure issues of Certificates of Indebtedness : $1,550,000 4 p. c. bonds, Atlantic Coast Line RR. Co. of S. C 600,000 4 p. c. bonds, Albemarle and Raleigh RR. Co 300,000 4 p. c. bonds, Wilmington and New Berne RR. Co 350,000 4 p. c. bonds, Yadkin Dlv., Wilmington and Weldon RR. Co 83,000 shares Preferred Stock, Atlantic Coast Line RR. Co Other securities owned (total, $12.430,221.26) : 44,627 shares Preferred Stock, Atlantic Coast Line RR. Co 95,065 shares Common Stock, Atlantic Coast Line RR. Co 500 shares Stock, Wilson and Summerton RR. Co Bonds of Sundry Railroad Companies ( $994,600 at par) Other I n vestments Bills Receivable Real Estate and Building, Washington. D. C Investments of Deposits for Renewal of Rails Fund Cash on Deposit $1,550,000 00 500,000 00 300,000 00 350,000 00 8.300,000 00 4,462,700 00 7,129,875 00 50,000 00 787,646 26 1,138,402 85 208,807 56 135,000 00 231,024 20 563,622 31 Total Assets $25,707,078 18 MAP OF THE ATLANTIC COAST LINE 1903. 201 202 POOR 8 MANUAL OF RAILROADS SOUTH ATLANTIC GROUP. LIABILITIES. Capital Stock paid In ($30,000,000 authorized ; $100 shares) $10,000,000 00 6 p. c. Certificates of Indebtedness 5,000,000 00 4 p. c. Certificates of Indebtedness 5.000,000 00 Insurance Fund 24,842 00 Deposits for Renewal of Rails 239,517 83 Due to Companies and Others 696,328 26 Profit and Loss 4,746,390 09 Total Liabilities $25,707,078 18 Increase of Capital Stock. — In a circular dated May 1, 1903, the company offered to sell to the stockholders of record on that date, $500,000 of capital stock at the price of $250 per $100 share. The purpose of the issue was not stated in the circular. Certificate* of Indebtedness. — The 5 p. c. certificates are authorized to the amount of $6,000,000, the $1,000,000 unissued being reserved for the general purposes of the company. They are irredeemable, save that they rank as a claim against the company in preference to the capital stock only. The 4 p. c. certificates are redeemable at the option of the company at any time after 20 years from Nov. 1, 1900, at 105 p. c. and accrued interest. The $11,000,000 of securities of controlled companies designated on the General Balance Sheet are deposited in trust with the Safe Deposit and Trust Co. of Baltimore, Md., to secure the principal and interest of both issues of cer- tificates equally. Interest is payable (on 5s, J. & D. ; on 4s, J. & J. ), if earned in each half year, and is non-cumulative* It takes precedence of dividends on the stock only. The certificates are In denominations of $100 and multiples thereof. They are in registered form, but are transfer- able on the books of the company when an assignment is endorsed on them. It is provided that no mortgage can be made on the company's property without the consent of at least two-thirds in amount of the certificates then outstanding, given at the meeting of the stockholders at which such mortgage may be authorized, certificate holders to have the right of casting one vote for every $100 of certificates held by them. It is also provided that in case of any such mortgage being authorized the holders of the certificates of indebtedness are to have the option of exchanging their holdings at par in lots of $1,000 or multiples thereof for the bonds or other evidences of indebtedness secured by such mortgage, it being required, however, that the company shall be notified within sixty days after the date of the meeting at which the mortgage may be authorized, of any desire to make such an exchange. Directors.— Henry Walters, W. G. Elliott, Baltimore, Md.; Warren Delano, Jr., East Orange, N. J. ; Michael Jenkins, Baltimore, Md.; A. Brandegee, New London, Conn. HENRY WALTERS, Chairman of Board.... Baltimore, Md. W. G. ELLIOTT, President Michael Jenkins, V ice-President V,.. . .'. ..^•i^^JT*"' Waldo Newcomer, 2d V ice-President 1 " * " Treasure! — J. J. Nelligan Baltimore, Md. I Asst. Secretary — Q. Stoddard.. Bridgeport, Conn. Secretary — W. G. Elliott Wilmington, N. C. | Asst. Treas. — A. Brandegee.. New London, Conn. Assistant Treasurer — J. B. Kirby Baltimore, Md. GENERAL OFFICE Bridgeport, Conn. ATLANTIC COAST LINE RAILBOAD COMPANY. (Controlled by Atlantic Coast Line Co.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock, Description of 8 Car Trust Obligations 12 Certificates of Indebtedness.. 9 Control of L. & N. RR. Co. . 2 Directors and Officers 15 Earnings, Expenses, etc 6 Funded Debt, Description of. 10 Oen. Bal. Sheet, June 30, 1902 7 Guarant'd Bonds, Descrip. of 11 History 3 Income Acct., June 30, 1902. . 6 Income Acct, Dec. 31, 1902. . 6a Investments, Miscellaneous. . 13 Joint Interests, ParticTrs of 4 Leased Lines, Statements of 14 Leases and Contracts 3 Mileage Operated, June 30, 1902 1 Mileage Operated, July 1, 1902 i. 2 Operations, Earnings & Exp. 6 Preferred Stock Retired 8 Rolling Stock 5, 5a Trackage Contracts, Terms of 3 1. Mileage Operated, June 30, 1902: Lines Owned: In Virginia, North Carolina and South Carolina 1,670.90 miles. Leased Lines: South Carolina Pacific Ry 10.50 m. Central Railroad of South Carolina 40.20 m. Wilmington Street Ry 1.25m.— 51.95 " Trackage Rights: Seaboard and Roanoke RR 2.39 m. Charleston & Western Carolina Ry 28.80 m. Wilmington Railway Bridge * 2.46 m. — 33.65 " Total length of lines operated as A. C. L. RR., June 30, 1902 1,756.50 miles. Sidings, spurs, etc. (owned, 310.79 in. ; leased, 0.99 m.), 317.78 miles. Gauge, 4 ft. 81/, in. Rail (steel, 1,695.13), 45 to 70 Ibs. POOR S MANUAL — ATLANTIC COAST LINE RR. CO. 203 2. History.— Consolidation, effective May 1, 1900, of the Atlantic Coast Line RR. Co. of Virginia, the Atlantic Coast Line RR. Co. of South Carolina, the Norfolk and Carolina RR. Co., the Wilmington and Weldon RR. Co., and the Southeastern RR. Co. of North Carolina (see MANUAL for 1901, pages 329-330). On May 13, 1902,, the company was consolidated with the Savannah, Florida and Western Ry. Co. (see MANUAL for 1902, page 748), the consolidated corporation retaining the name of Atlantic Coast Line RR. Co. The consolidation went into effect on July 1, 1902, after which the mileage operated by the company was as follows: LINES OWNED (3,453.53 miles). Miles. Richmond, Va., to Port Tampa, Fla. 897.7!) Branches in Savannah, Ga 3.70 Norfolk, Va., to Rocky Mount, N.C. 114.87 Bruce to Pig Point, Va 6.53 Driver's to Bennett's Pasture, Va.. 1.55 Armistead to S. & R. RR. Va 1.13 Clapton to James River, Va 4.55 Acree to Dunlap, Va 5.75 Petersburg to N. & W. June., Va.. 3.15 Fender to Kingston, N. C 85.82 Tarboro to Plymouth, N. C 53.89 Parmele to Washington, N. C 25.39 Rocky Mount to Spring Hope, N.C. 19.20 Contentnea to Wilmington, N. C. . . 105.00 Goldsboro to Smithfield, N. C 21.50 Warsaw to Clinton, N. C 13.43 Wilmington to New Berne, N. C. . . . 90.32 Wilmington to Sanford, N. C 116.40 Parkton, N. C., to S. C. State Line 34.44 Wilmington to W. Ry. Bridge 2.03 W. Ry. Bridge to Pee Dee, S. C 93.00 Elrod, N. C., to Conway, S. C 71.38 Florence, S. C., to Wadesboro, N.C. 64.52 Floyds to Hartsville, S. C 10.00 Sumter Jc., S. C., to Gibson, N. C . . 74.23 Florence to Columbia, S. C 81.70 Latta to Clio, S. C 19.78 Sumter to Robbins, S. C 98.50 Elliott to Lucknow, S. C 16.48 Creston to Pregnalls, S. C 40.81 Eutawville to Ferguson, S. C 6.16 St. John's IsV d to Ashley River, S.C. 8.70 Ravenel to Young's Island, S. C.. 5.69 Green Pond to Ehrhardts, S. C. . . . 37.67 Jesup, Ga., to Montgomery, Ala... 353.31 Waycross to Folkston, Ga 33.09 Albany, Ga., to Monticello, Fla 82.47 Climax, Ga., to Chattahoochee, Fla. 31.23 Abbeville June, to Abbeville, Fla.... 26.09 Dimmick to Elba, Ala 37.22 Sprague June, to Luverne, Ala. . . . 32.92 LINES OWNED. — Continued. Miles. Brunswick to Albany June., Ga. . . . 168.78 Dupont Jc., Ga., to Archer, Fla 117.65 Morriston to Bartow, Fla 109.35 Lake City June, to Lake City, Fla. 18.90 High Springs to Gainesville, Fla.. 23.60 Juliette to Ocala, Fla 20.19 Gulf June, to Homosassa, Fla 22.05 Bartow to Bartow June., Fla 16.20 De Land June, to De Land, Fla ... 4.00 Sanford to Lake Eustis, Fla 28.62 Sanford to Lake Charm, Fla 17.60 Astor to Leesburg, Fla 37.94 Fort Mason to Lane Park, Fla 9.48 Kissimmee to Narcoossee, Fla .... 14.40 T. & T. June, to Thonotosassa, Fla. 13.33 LEASED LINES (79.74 miles). Central RR. of South Carolina: Lanes to Sumter, S. C 40.20 South Carolina, Pacific Ry. : N. C. Line to Bennettsville, S.C. . 10.50 Wilmington Street Ry. : In Wilmington, N. C 1.25 Winston & Bone Valley RR.: Winston to Tiger Bay, Fla 27-79 TRACKAGE RIGHTS: (56.48 miles.) Seaboard & Roanoke RR. : Garysburg to Weldon, N. C 2.39 Wilmington Railway Bridge: Wilmington to Navassa, N. C. . . 2.46 Charleston & Western Carolina Ry.: Robbins, S. C., to Augusta, Ga. . 28.80 Florida Central & Peninsular RR.: Archer to Morriston, Fla 19.60 Jacksonville Terminal Co. : Jacksonville, Fla., Connection.. . 2.58 Belt Line Ry.: In Montgomery, Ala 0.65 Total mileage operated 3,589.75 Control of L. & N. RR. Co. — In October, 1902, the company arranged for the pur- chase of $30,600,000, being a majority, of the capital stock of the Louisville & Nashville RR. Co., for the consideration of $.>0,000,000. The purchase was completed on February 14, 1903. Payment was made, $10,000,000 in cash, $5,000,000 in the company's common stock, and $35,000,000 in 4 per cent. 50-year gold bonds. Absorption of Controlled Roads in Florida. — On March, 19, 1903, the properties of the Sanford and St. Petersburg RR. Co. and of the Florida Southern RR. Co. were conveyed by deed to the Atlantic Coast Line RR. Co. (see Sec. 10a, also separate statements for the companies named ) . 3. Leases and Trackage Contracts. — The Central RR. of South Carolina is 204 POOR 8 MANUAL OF RAILROADS SOUTH ATLANTIC GROUP. leased for 09 years from Dec. 1, 1881, at an annual rental of $31,000. The South Carolina Pacific Ry. is leased for 30 years from Jan. 8, 1885, at an annual rental equal to the interest on $104,600 of 6 per cent, bonds. The Wilmington Street Ry. Co.'a dummy line is operated under a 40-year lease from Jan. 1, 1805, at an annual rental of $3,000. The lease of the Winston and Bone Valley RR. runs only from year to year, and the rental is $6,000 per annum. The tracks of the Seaboard and Roanoke RR. are used to reach the railroad shed at Weldon, N. C., the company paying as rental under the contract $5,250 a year and one-half the cost of maintenance. Under the contract with the Charleston and Western Carolina Ry. Co., this company has the use of the line from Robbins, S. C., to Augusta, Ga., and of terminal facilities in Augusta, at an annual charge of $11,060, in addition to a proportion of the cost of maintenance based on wheelage. For the use of the line from Archer to Morriston, Fla., the company pays to the Florida Central and Peninsular RR. Co. $4,202.54 per annum and a proportion of the cost of maintenance based on wheelage. For the use of Jacksonville Terminal property, including station and connecting tracks, the annual charge is $7,000 and a proportion of the cost of maintenance. The agreement with the Belt Ry. Co. of Montgomery is for the use of certain lines and terminals in Montgomery at an annual charge of $15,531.12. 4. Joint Interests. — This company and the Louisville and Nashville RR. Co. are joint lessees of the Georgia RR. and joint owners of the Atlanta Belt Line Co. This com- pany owns a one-sixth interest in the Richmond-Washington Co. and a one-third interest in the Chesapeake Steamship Co. The Richmond- Washington Co. is a corporation formed for the purpose of operating the railroad connecting the south end of the Long Bridge, at Washington, D. C., with Richmond, Va. The Chesapeake Steamship Co. operates steam- ship lines between Baltimore and Norfolk, and between Baltimore and York River in Virginia. The Wilmington Ry. Bridge is owned by this company and the Seaboard Air Line RR., conjointly, and its bonds are guaranteed by the owners, each one-half. A joint passenger station at Columbia, S. C., has been constructed by this company and the Southern Ry. Co., and committees have in charge the erection of union passenger stations at Augusta, Ga., and at Charleston, S. C. 5. Rolling Stock, June 30, 1002. — Locomotives, 109; dummies, 2. Cars — passenger, 103; combination, 33; baggage, express, and postal, 46; freight (box, 4,440; stock, 56; flat, 1,581; log, 560), 6,646 — total revenue cars, 6,828. Also 292 service cars. The com- pany also owns one tug boat, one passenger barge, and eight freight barges. 5a. Rolling Stock, July, 1, 1902.— Locomotives, 424. Cars — passenger, mail, bag- gage and express, 477; freight, 13,071 — total, 13,548. Against this equipment there is a liability, under car trusts unmatured, amounting to $140,000 on July 1, 1003. (See Sec. 12). 6. Operations, year ending June 30, 1902. — Train mileage — passenger, 2,193,620; freight, 2,417,629; mixed, 208,907; other, 29,808— total, 4,849,964 miles. Passengers car- ried, 1,699,542; carried one mile, 82,179,619; average mile rate, 2.14 cents. Tons freight moved, 3,147,453; moved one mile, 434,696,989; average ton-mile rate, 1.38 cents. EARNINGS. Puwngcr 1900-01 1901-02 (1,759.05m.) (1,756.50m.) ... $1,541,39233 Cl,753,81267 Freight. 5,620,400 18 5,978, 109 21 Mail and Express. 459,81035 460,11066 Miscellaneous 293 436 48 357,493 60 Totals. 17,915,099 34 $8,549,526 14 Averages per Mile. .. 4.499 65 4.867 36 EXPENSES. 1900-01 1901-02 (1,759.05m.) (1.756.50m.) Maint. of Way and Structures.. $1,087,00500 $1,276,82439 Maintenance Equipment 1,069,066 62 943 000 00 Conducting Transportation 2,289,832 20 2,313 352 09 General Expenses 198,92545 205,81082 Totals $4,644,829 27 $4,738,987 30 Averages per Mile 2,64853 2,69797 Net earnings, 1901-02 (44.57 p. c.J, $3,810.538.84; other income, $61,625.75— total, $3,872,164.59. Payments: Taxes, $360,000; interest on funded debt, $1,189,995; other interest, $8,181.60; rentals ( Central RR. of S. C., $31,000; South Carolina Pacific, $6,276), $37,276; dividends on preferred stock (5 p. c.), $942,500; on common stock (3^ p. c.), POOR'S MANUAL ATLANTIC COAST LINK RR. CO. 205 $556,157 — totaJ, $3,094,109.60. Surplus, $778,054.99; surplus forward, $2,357,169.31— total, $3,135,224.30. Deductions for year, $4,295.05. Surplus, June 30, 1902, $3,130,929.25. 6a. Supplementary Income Account, 6 months ending Dec. 31, 1902. Earnings -Passenger $1,685,114 Freight 6,583,670 Mail and Express 455,465 Miscellaneous 227,888 Total $8,952,137 Expenses— Maint. Way and Structures. . .$1,261,780 Maintenance of Equipment... 1,410,343 Conducting Transportation — 2,743,107 General Expenses 292,274 Total $5.707,504 Net earnings (36.24 p. c.), $3,244,633; other income, $257,500 — total, $3,502,133. Deductions: Interest on funded debt, $1,762,512; on certificates of indebtedness, etc., $546,129— total, $2,308,641. Net profit, $1,193,492. 7. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $66,989,31914 Other Investments (see Sec. 13) 735,41774 Agents, Railroads, and Others 4,065,90116 Bills Receivable 28,000 00 Deposited to Pay Coupons & Divid's. . 309,951 56 Cash on Hand 250,098 89 Common Stock $23,150,000 00 Preferred Stock 18,850,00000 Certificates of Indebted, (see Sec. 9) . 5,880,000 00 Funded Debt ( see Sec. 10 ) 18.646,500 00 Current Liabilities 2,721,25924 Profit and Loss 3,130,92925 Total Asssts $72,378,688 49 Total Liabilities $72,378,68849 8. Capital Stock. — The capital stock outstanding on June 30, 1902, as shown by the general balance sheet of that date, consisted of $23,150,000 of common stock and $18,850,000 of 5 p. c. non-cumulative preferred stock, the common stock including $7,259,800, issued under the terms of the consolidation agreement with the Savannah, Florida and Western Ry. Co. At the time of that consolidation it was decided to retire the preferred stock, at the option of the individual holders of that stock, by offering in exchange for it 125 p. c. of its face in certificates of indebtedness bearing interest at the rate of 4 p. c. per annum. Up to March 1, 1903, $17,080,000 of the preferred stock was thus converted into certificates of indebtedness, leaving only $1,770,000 of it outstanding. The holders of the outstanding preferred stock have the privilege of converting their shares into cer- tificates of indebtedness, at any time, under the stated terms. In connection with the agreement to purchase the control of the Louisville and Nashville RR. Co. (see Sec. 2) the authorized common stock was increased from $23,150,000 to $38,150,000. Of the $15,000,000 additional stock, $13,- 500,000 has been issued, $5,000,000 of it having been delivered in part payment for the shares of L. & N. stock purchased, while the remaining $8,500,000 was sold to the stockholders of the com- pany, at the price of $125 per share, to produce the $10,000,000 cash required under the agreement. This increases the outstanding common stock of the company to $36,650,000 as of March 1, 1903. The common stock includes the $1,000,000 Class A stock of the Atlantic Coast Line RR. Co. of Virginia, which was issued on account of the original stock of the former Richmond and Petersburg RR. Co., and which is exempt from taxation in Virginia. The preferred stock has priority over the common stock for dividends at the rate of 5 p. c. per annum, non-cumulative, but is not entitled to any further share of the yearly net profits. 9. Certificates of Indebtedness. — On June 30, 1902, there were outstanding $2,500,000 of irredeemable 7 p. c. certificates and $380,000 of special trust 6 p. tf. certificates of the Wilming- ton and Weldon RR. Co., and $3,000,000 of 4 p. c. certificates of the Atlantic Coast Line RR. Co. In the first consolidated mortgage dated June 16, 1902, provision was made for the retirement of all three issues, the Wilmington and Weldon 7s at 175, the Wilmington and Weldon 6s at 150 and the Atlantic Coast Line 4s at par. On March 1, 1903, there remained outstanding $844,800 of the Wil- mington and Weldon 7s, $210,000 of the Wilmington and Weldon 6s and $980,300 of the Atlantic Coast Line 4s — a total of $2,035,000. At the same time there were outstanding $21,350,000 of the 4 p. c. certificates issued in exchange for the preferred stock retired as per Sec. 8. The Wilming- ton and Weldon 6s are redeemable in 1937 ; the other issues are irredeemable, except with the con- sent of the individual certificate-holders. Interest is payable in April and Oct. on the Wilmington and Weldon 7s ; in May and Nov. on the Wilmington and Weldon 6s and on the Atlantic Coast Line new 4s ; in Jan. and July on the Atlantic Coast Line old 4s. (See Sec. lOa.) 10. Funded Debt. — The funded debt as per general balance sheet of June 30, 1902, repre- sented seventeen issues of bonds outstanding upon the property of the Atlantic Coast Line RR. Co. previous to that company's absorption of the Savannah, Florida and Western Ry. Co. Secured upon the property of the latter there were ten issues of bonds, aggregating $28,906,500 in amount, and these the Atlantic Coast Line RR. Co. assumed in the consolidation. Provision was made in the consolidation agreement for an issue of 1st consol. mtge. bonds to the amount of $80,000,000, of which bonds amounting to $28,760,300 have been issued, $10,638,000 of them In part payment for the Savannah, Florida and Western property, $12,451,000 for the retirement of an equal amount of consol. mtge. bonds of the Savannah, Florida and Western Ry. Co., $5,171,300 for the retirement of $3,844,900 of the $5,880,000 certificates of indebtedness of the Atlantic Coast Line RR. Co. that were outstanding on June 30, 1902, and $500,000 for new equipment. In part payment for the con- trolling interest acquired in the capital stock of the Louisville and Nashville RR. Co. (see Section 2), $35,000,000 of collateral trust bonds were issued in Nov., 1902. The funded debt outstanding on March 1, 1903, therefore, amounted to $98,822,000, as follows: $28,7OO,:H>0 1st consol. gold 4s of July 1, 1952. part of a total authorized of $80,000,000, issuable at not exceeding the rate of $20,000 per mile of completed road, including all underlying bonds. Of the $51,239,700 of unissued bonds, $35,102,000 are reserved for the retirement of $18,646,500 underly- ing bonds of the Atlantic Coast Line RR. Co. and of $16,455,500 underlying bonds of the Savan- nah, Florida and Western Ry. Co., $2,773,700 are reserved for the retirement of $2,035,100 certifi- cates of indebtedness of the Atlantic Coast Line RR. Co., and the remaining $13,364,000, together with any bonds not needed for the other purposes specified, are to be issued from time to time for the acquisition of additional railways and rail- way property and for improvements and addi- tional equipment. The bonds are secured, sub- ject to prior liens, on the entire property of tbe 206 POOR'8 MANF.U. OK RAILROADS SOUTH ATLANTIC GROUP. company except lands not used nor intended to be uJsed (or railway purposes, and will be secured on any railw.i> I rroafter acquired by issue of bonds secured by the same mortgage. At present they are secured by flr.-U mortgage on the follow- ing lines : High Springs to Archer. Kla., 23.06 miles; Morriston to Juliette, Fla., 12.30 miles; Inverness to Barlow, Kla., 75.42 miles ; Sanford to Port Tampa, Fla., 123.76 miles ; Sanford to Lake Charm, Fla., 17.60 miles'; Sanford to Lake EustiB, Fla., 28.62 miles ; Astor to Leesburg, Fla.. 37.94 miles ; Fort Mason to Lane Park. Fla., 9.48 miles ; K isslinmee to Narcoossee, Fla., 14.40 miles ; linrtow Junction to Bartow, Fla., 16.20 miles ; Tampa Junction to Thonotosassa, Fla., 13.33 miles ; Tbomasville, Ga., to Monticello, Fla., 23.97 miles; Walterboro to Ehrhardt, S. C., 24.22 miles ; Abbeville Junction to Abbeville, Ala., 26.90 miles; Newton to Elba, Ala., 37.22 miles; Jesup to Folkston, Ala., 54 miles ; Sprague Junction to Luverne, Ala., 32.92 miles— total, 571.34 miles. $34O.5OO Richmond & Petersburg RR. 1st mtge. bonds ($24,500 of them 7s and $316,000 of them 6s), due May 1, 1915. Secured on the line from Richmond to Petersburg, Va., 23 miles. 93OO,OOO Richmond & Petersburg RR. consol. gold 4Ja of April 1, 1940. Secured by first mort- gage on the branch from Clopton to James River, Va., 4.55 miles, and by second mortgage on the line from Richmond to Petersburg, Va., 23 miles. $1,668.OOO Petersburg RR. 1st mtge. gold bonds — Class A, $868,000 5s of July 1, 1926 ; Class B, $800,000 6s of Oct. 1, 1926. Secured equally, but by different mortgages, on the line from Peters- burg, Va., to Gary, N. C., 58 miles. $ 1,32O,OOO Norfolk & Carolina RR. 1st gold 5s of April 1, 1939. Secured on the line from Pin- ner's Point (Norfolk), Va., to Tarboro, N. C., 100.49 miles, on the Pig Point, Bennetts Pasture and Portsmouth Branches, 9.21 miles, and on 1.63 miles of spurs — a total of 111.33 miles. $4OO,OOO Norfolk & Carolina RR. 2d gold 5s of Jan. 1, 1946. Secured on the same lines as the 1st mtge. bonds. $4,OOO.OOO Wilmington & Weldon RR. gen. 1st mtge. gold bonus of July 1, 1935, $3,062,000 of them 5s and $938,000 4s. Secured equally on the follow- ing lines : Wilmington to Weldon, N. C., 161.4 miles ; Fender to Kinston, N. C., 85.82 miles ; Goldsboro Junction to Smit£field, N. C., 21.5 miles ; Contentnea, N. C., to South Carolina State Line In the direction of Pee Dee, 116.2 miles ; Elrod, N. C., to Boardman, S. C., 21.38 miles ; Rocky Mount to Spring Hope, N. C., 192 miles; Warsaw to Clinton, N. C., 13.43 miles; Parmele to Washington, N. C., 25.39 miles ; sundry spurs, 15.88 miles — total, 480.20 miles. $5OO,OOO Albemarle & Raleigh RR. 1st gold 4s of Jan. 1, 1944. Secured by first mortgage on tte Tarboro Branch, from Rocky Mount to Plymouth, N. C., 68.27 miles. $5OO,OOO Wilmington & New Bern RR. 1st gold 4s of Aug. 1, 1947. Secured by first mortgage on the New Bern Branch, from Wilmington to New Bern, N. C., 90.32 miles. 9 l.SOO.OOOKadfcin Division (W. & W. RR.) 1st gold 4s of June 1, 1949. Secured by first mortgage on line from Wilmington to Sanford, N. C., 118.61 miles, and branch from Fayetteville, N. C., to South Carolina State Line, 46.75 miles. $1,GOO,OOO Wilmington, Columbia & Augusta RR. 1st gold 6s of June 1, 1910. Secured by first mortgage on the line from Wilmington, N. C., to Columbia, S. C., 191.7 miles. $«57,OOO Northeastern RR. consol.. gold 6s of Jan. 1, 1933. Secured by first mortgage on the line from Florence to Charleston, S. C., 107.07 ii. lie-. $9,OOO Manchester A Augusta RR. 1st gold 5s of Jan. 1, 1943. Secured by first mortgage on the lines from Sumter to Denmark, S. C., 64.31 miles ; Elliott to Lucknow, S. C., 16.48 miles ; Elloree to Pregnalls, S. C., 34.6 miles — total, 115.39 miles. *:>.OOO Cheraw rl.f, ffClj income Bonds. — These three issues, In the order of their priority, coyer the Savannah and Western Columbus and Rome, and Savannah and Atlantic RRs., and their equipment, property, etc They are also a third lien on the main line and a second lien on all leaseholds, securities, and equities of properties acquired by the Central Ry. of Georgia. Interest is payable only out of net earnings as declared, and is not to exceed the rate of 5 p. c. per annum, non-cumulative. <>. Operations, property, and capital account for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 if ikt RB Operated. 1,454.55 1,604.391 1,930,042 * 1,491.42 1,564,015 1,966,160 * 1,523.71 1,519,583 1,879,950 433,399 1,523.71 1,633,923 2,049.310 473,001 1,539.12 1,930,731 2,076.970 392,545 1.677.81 2,125,295 2,490.417 390.206 1.844.67 2.538,881 2,563,325 331,761 Mixed Train Mileage Total Revenue Train Mileage 3.534,433 1,584,093 3;vjit;.uio 2,060,253 320,674,584 $ 1.282,139 3*689,017 457.926 3,530,175 1,549,468 4X.01X,'.I2'.. 1.S75.260 292,186.403 1.139.152 3,521,8G7 619,677 3,832,938 1,445,348 47,526,905 2,036.616 325,621,615 $ 1,120,375 3,728,537 658,158 4,156,234 1,576,461 50,636,540 2,199,04S 353,713,668 $ 1.326,362 3,713,456 727.527 4,400,246 1,789,565 60,606,409 2,457,977 305,901,969 $ 1,375,434 4,010,059 700,770 5,011,918 2.146,567 70,478,468 2,708,915 437,060,554 $ 1,641,882 4,650,105 628,728 5,433,967 2,476.421 80,661.839 3,258.444 471,487.448 $ 1,795,502 5,322,039 633,150 Freight (ton*) Mile« Freight Other Totals 5.429.0S2 3,605.467 5,280,696 3,271,594 5,507,070 3,433,777 5,707,345 3,759,977 6,086,263 3,997,748 6,920,715 4,778,148 7,750,691 5.531,039 Operating Expenses 1,823,615 Accrued for 8 mofi. only hence no compari- sons are made. 3,73248 2,478 75 1.25373 66.41 p.c. 2.378 c. 1.150c. 1,115.16 1,306.54 1,040.09 21 206 4.78 25S 5,000,000 45,220,000 2,009,102 329,807 2,073,293 110,275 2,007,368 215,218 2,088,515 231,463 2,142,567 187,359 2,219,652 201,674 2,338,909 180,969 1,837,933 4,044 2,183,568 176,132 1,932.500 1,793 73,143 3,61425 2,25356 1,36069 62.35 p.c. 2.357 c. 1.145c. 1,179.73 1,384.70 1,089.21 207 201 5,096 212 $ 5,000.000 45,801.000 2.222.5R6 206,733 1,948,500 8,464 58,889 3,78507 2.4C.7 65 1,317 42 65.19 p.c. 2.342 c. 1.044 c. 1,179.73 1,391.50 1,090.76 201 200 5.104 206 $ 5,000.000 45,801,000 2,319,978 208,657 1,952,357 27,998 130,966 3,95438 2,597 42 1,356% 65.68 p.c. 2.269 c. 1.096 c. 1,195.58 1,428.63 1,107.07 19S 203 5,041 197 1 5,000,000 45,941,000 2,329.926 213,411 1,906,489 8,674 201,352 4,124 85 2,84785 1,277 00 69.04 p.c. 2.330 c. 1.064 c. 1,432.29 1.702.30 1,344.08 212 215 5,577 191 $ 5,000,000 48,646,000 2.421.326 269,471 2,014,004 14.911 122,940 4,201 67 2,99839 1,20*28 71.36 p.c. 2.226 c. 1.129 c. 1,432.29 1,707.92 1,344.62 214 212 5.951 210 $ 5,000,000 49,146,000 178,769 440,647 1,245 1,139.504 122,892 Taxes 315,963 3,54072 2,193 61 1.347 11 61.95 p.c. 2.343 c. 1.205 c. 1,179.73 1.376.97 1,082.01 210 206 4,932 235 1 5.000,000 45,801,000 Expenses to Earnings. Earn per Tor. per Mile Miles RR. Owned. Miles Track Owned Miles Steel Rail Owned Can — Passenger Freight Funded Debt 77,996 3,052 1,165,628 81,643 44,288 3,248 1,290,470 131,086 475,503 11,682 1,228,380 200,47* 56,02 1,168,111 60,853 38,509 880,152 99,375 1,087.598 87,789 Profit and LOBS Total Liabilities. 51.504.99 41,611,406 3,513,998 51,819,036 42,116,664 3.530,739 51,976,387 42,181,664 3.530,739 52,129,319 42,181,664 3,530,739 52,410,092 42,382,445 3,530.739 55,562,037 44,891,370 3,666.814 65,100 5,037,722 254.749 58.778 1,587,504 56.029,057 44,071,209 3,t^i,014 178,137 6,506,601 228,199 66.481 1,311.816 Cost of Road Cost of Equipment Trust Equipment Investments. Materials, etc 5,034.95 317,88? 52.481 974.17e 5.073.683 253,096 15,123 29.731 5,081.504 231,195 45,617 905,668 5,174,086 173.922 106511 962,397 5,243,131 249,525 49,089 955,163 Deferred Assets . . . CwhAsKts.....' '. Total Assets 51.504.99j 51.819.036 51,976.387 52,129,319 52,410,092 55,562.037 56,029.057 • Not reported separately; included one-quarter in passenger train mileage and three-quarters in freight train mileage. POOR'S MANUAL OF RAILROADS. 215 1O. Equipment Trust Obligations. — Secured on 25 box freight cars and 375 coal cars. The obligations are in three series of notes, the first dated May 24, 1900, the second Jan. 21, 1901, and the third Nov. 14, 1901, the dates of final payment being, respectively, May 1, 1907, March 1, 1908, and Nov. 14, 1906. Since the close of the fiscal year two additional series of notes have been issued, one of them dated Sept. 2, 1902, and due Sept. 2, 1910, and the other dated Oct. 1, 1902, and due Oct. 1, 1907. These series cover 11 locomotives and 500 box freight cars. 11. Guaranties. — The Central of Georgia Ry. Co. guarantees, both as to principal and inter- est, $1,000,000 1st mtge. 5 p. c. gold bonds of the Ocean Steamship Co. of Savannah, maturing July 1, 1920, and guarantees dividends at the rate of 5 p. c. per annum on $1,022,900 capital stock of the Augusta and Savannah RR. Co., and on $5,191,100 capital stock of the Southwestern RR. Co. There is also a fixed charge of $34,404 per annum for rental of the Chattahoochee and Qulf RR., besides $5,000 annuity payable to the city of Macon, Ga. 12. RAILROADS OWNED OB LEASED BY THE CENTRAL OF GEORGIA RY. Co. AUGUSTA AND SAVANNAH RR Millen to Augusta, Ga., 53.21 m. ; total track (steel; 56 to 68J Ibs.), 69.47 miles. HISTORY. — Chartered In 1838 as Burke County RR. ; opened in 1864. Leased for 101 years, Oct. 24, 1895, to the Central of Ga. Ry. Co. at an an- nual rental of $51,145, being 5 p. c. on capital stock of $1,022,900. CORPORATE OFFICERS. — Joseph D. Weed, Pres. ; H. H. Hull, Sec. & Treas., Savannah, Ga. Corporate Office Savannah, Ga. CHATTAHOOCHEE AND GULF RR. — Columbia to Sellersville, Ala.. 67.68 m. ; total track (steel; 56 to 61i Ibs.), 69.10 miles. HISTORY. — Chartered July 7, 1899; road opened from Columbia to Dothan, Ala., 20.7 miles, on May 2, 1900 ; as above Nov. 1, 1900. Leased in perpetuity, July 2, 1900, to the Central Ry. Co. of Ga., at an annual rental of 6 p. c. upon the cost of road until such time as the bonded in- debtedness of this company has been retired, one- sixth of this rental to be used as a sinking fund for the retirement of the bonds. After the bonds are retired the annual rental will be 5 p. c. upon the capital stock. FINANCIAL STATEMENT. — Capital stock ($100 shares), $273,400. Funded debt (1st mtge. 6s of 1930), $300,000, less $14,000 called In and re- tired as of Jan. 1, 1903. The amount of bonds authorized is $2,000,000, and the remaining $1,700,- 000 thereof can be issued only for extensions. CORPORATE OFFICERS. — E. T. Comer, Pres., Columbus, Ga. ; John Flannery, Vice-Pres. ; H. W. Johnson, Sec. & Treas., Savannah, Ga. Office, Savannah, Ga. SOUTHWESTERN RR — Macon, Ga., to Eufaula, Ala., 143.6 m., with branches from Fort Valley to Perry, 12.50 m. ; Fort Valley, Ga., to Columbus, Ga., 71 m. ; Cuthbert to Fort Galnes Ga., 20.50 m. ; Smithville, Ga., to Columbia Ala 85.01 m.— total, 332.61 m. ; sidings, 66.66 miles Rail (steel, 330.37 m.), 56 to 681 Ibs. HISTORY. — Consolidation, Nov. 1, 1868, of the Southwestern and the Muscogee RR. Cos. (See Manual for 1895, page 363. ) Leased to the C of Ga. Ry. Co. for 101 years, from Oct. 17, 1895, at a rental equivalent to 5 p. c. on the capital stock, the lessee paying all organization expenses. INCOME ACCOUNT, year ending Jan. 31, 1902 — Rental, $259,555 ; interest, $4,027 — total, $263 582 Payments: Dividends (5 p. c.), $250,298- ex- penses, $2,119— total, $252,417. Balance, $11,165. BALANCE SHEET, Jan. 31, 1902. — Capital stock, $5,191,100 ; reserve fund, $107,113 ; balance due on dividend accounts, $9,258 ; unclaimed dividends, $1,923 — total, $5,309,394. Contra: Cost of road and equipment, $5,191,100 ; State of Georgia 4J p. c. bonds (cost of $91,000), $104,566; cash, $ll,50fi ; expense item, still open, $2,222 — total, $5,309,394. CORPORATE OFFICERS. — W. G. Raoul, Pres., New York, N. Y. ; John M. Walker, Sec. & Treas., Macon, Ga. Office, Macon. Ga. UPSON COUNTY RR Barnesville, Ga., to Thomaston, Ga., 16.25 m. ; total track, 16.83 miles. Rail (steel, 4.41 m.), 35 to 611 Ibs. HISTORY. — Chartered as Thomaston and Barnesville RR. Co., Dec. 23, 1839 ; road opened in 1856. Sold at sheriff's sale, and reorganized under present title, Dec. 6, 1860. Destroyed at the close of the war, and rebuilt in 1870. Con- trolled by the Central of Ga. Ry. Co., which owns the entire capital stock ($40,005; shares, $30). There is no bonded or other debt on the road. CORPORATE OFFICERS. — E. A. Flewellen, Pres. ; G. A. Weaver, Sec., Thomaston, Ga. 13. Board of Directors, Central of Georgia Ry. Co., elected October 13, 1902. JOHN F. HANSON, Chairman of the Board Macon, Ga. W. C. Bradley.. Columbus, Ga. Edward T. Comer. .Macon, Ga. John M. Egan. .. Savannah, Ga. J. W. English Atlanta, Ga. John F. Hanson — Macon, Ga. U. B. Harrold. . .Americus, Ga. G. G. Haven.. New York, N. Y. Evan P. Howell Atlanta, Ga. Joseph Hull Savannah, Ga. Samuel R. Jaques. .Macon, Ga. JOHN M. EUAN, President Savannah, Ga. W. A. Winburn, Vice-President c/nd Traffic Manager.... A. R. Lawton ... Savannah, Ga. George J. Mills. . Sam. Spencer. .New York, N. Y. Chas. Steele. . . " One vacancy. Secretary— C. C. Williams Macon, Ga. Asst. Secretary — T. F. Smith Savannah, Ga. Treasurer — T. M. Cunningham Savannah, Ga. Auditor — W. D. Beymer. PRINCIPAL OFFICE AND ADDRESS Savannah, Ga. CHESAPEAKE AND OHIO RAILWAY COMPANY. (For map of this system, see page 217.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Equipment Contracts 6 Mileage Operated 1 Floating Equipment 7 Operations & Inc., 1896-1902.. Funded Debt Details 12 Preferred Stock Dividends.. 11 General Balance Sheet 10 General Balances, 1896-1902.. 9 Guaranteed Bonds 13 History 3 Income Account 8 Lexington & Big Sandy RR. 3 Lines of Road 1 Big Sandy Ry. Co 3 Branches Projected 3 Capitalization of System 4 Capital Stock 11 Car Trusts 6 Construction Account 15 Contracts and Agreements. . 2 Controlled Cos.' Statements. 16 Directors and Officers 17 Earnings and Expenses 8 Preferred Stock Retired 11 Richmond-Washington Co. . . 3 Rolling Stock 6 Securities Deposited as Col- lateral 14 Securities Owned 14 Steamship Properties 3 216 POOR'S MANUAL OP RAILROAD?? — SOUTH ATLANTIC GROUP. 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 924.5 miles). .Wain Line: Fort Monroe, Va., to Big Sandy River, Ky 512.0 miles. Richmond and Alleghany Division: Fulton (Richmond) to Clifton Forge, Va. 231.8 " Branches: Buckingham, 20.8 m.; Alberene, 11.1 m. ; Lexington, 20.1 m. ; Craig Valley, 26.4 m.; Warm Springs Valley, 24.7 m.; Piney Creek, 13.6 m.; Loup Creek, 13.5 m.; South Side, 18.3 m.; Hawk's Nest, 3.4 m.; Gauley, 14.2 m.; Cabin Creek, 14.6 m 180.7 B. LEASED LINES (total, 122.7 miles). Orange Branch, Southern Ry. : Orange to Gordonsville, Va 9.0 Greenbrier Ry. : Durbin to Whilcomb, W. Va 95.5 hanatoha and Pocahontas RR.: Pratt, W. Va., to Trackend 14.0 Passenger Belt Ry. : At Lexington, Ky 4.2 " O. CONTROLLED THROUGH STOCK OWNERSHIP (total, 377.4 miles). .Vaysville and Big Sandy RR. : Ashland Junction to Licking River, Ky 142.7 " Covington Short Route Transf. Ry.: Licking River to K. C. Jc., Ky 0.8 Covington d Cincin. Elev. RR. and Transfer and Bridge (see Sec. 16) 2.1 " Guyandot Valley Ry. : Barboursvllle to Midkiff, W. Va 27.0 Kinniconnick and Freestone RR.: Garrison to Carter, Ky 19.8 Lexington and Big Sandy Ry.: (See appended statement, Sec 16) 185.0 " D. ROADS OPERATED UNDER CONTRACT (total, 20.8 miles). Sulphur Mines RR. : Mineral to Sulphur Mines, Va 4.0 * Quinnimont Short Line RR.: Quinnimont to Greenwood, W. Va 5.2 Keeney's Creek RR.: Nuttall to Lookout, W. Va 7.8 Deep Water RR.: Deep Water to Robson, W. Va 3.8 X!. TRACKAGE RIGHTS (total, 191.2 miles). Bait, d Pot. RR. and Wash. So. Ry.: Washington, D. C., to Alexandria, Va. . 6.7 " Southern Ry. : Alexandria to Orange, Va 77.8 Ashland Coal and Iron Ry. : Ashland to Denton, Ky 21.3 Louisville d Nash. RR. : Lexington to Louisville, Ky 84.4 Baltimore and Ohio RR. : At Lexington, Ky 1.0 " Total length of lines operated, June 30, 1902 1,636.6 miles. 2d track, 149.4 m.; sidings, 568.5 miles. Gauge, 4 ft. 9 in. Rail (steel), 50 to 100 Ibs. 2. Contracts with Other Companies. — The company has contracts and agreements with other companies as follows : With Adams Express Co., from whom It receives 40 p. c. of earnings, same to be not less than $75,000 per annum ; with Pullman's Palace Car Co., by which the latter maintains its own cars and retains all earnings under $7,500 per annum, the C. & O. Ry. Co. paying all running expenses except salaries; with Southern Ry. Co.. lease for 99 years and one month from March 1, 1891, of the line from Gordonsville to Orange, Va., 9 m., for $6,000 per annum ; with the same company for 99 years from April 1, 1891, for use of tracks from Orange to Alexandria, 77.8 m., the C. & O. to pay its proportion, based upon car and engine wheelage, of $125,000 (being Interest at 5 p. c. upon valuation of said 77.8 m. of road and appurtenances), provided that propor- tion shall not in any year be less than $31,250, and of the further payment of its proportion upon the same basis of cost of maintenance of said 77.8 m. and salaries of employees ; with the Washing- ton Southern Ry. Co., securing right to run trains for 100 years from Sept. 17, 1901, from Alexandria to Long Bridge, in consideration of payment of its proportion upon car and engine wbeelage, of cost of maintenance and salaries of employees, and interest at 4 p. c. upon $250,000, valuation of track ; with Baltimore and Potomac RR. Co., securing right to run trains from south end of Long Bridge to Depot in Washington, in consideration of payment of proportion, based upon car and engine wheelage, of cost of maintenance of track and wages of employees ; with Western Union Telegraph Co., owning lines on the Chesapeake and Ohio RR., and giving this com- pany 25 p. c. of receipts from all commercial business done at C. & O. stations, and telegraphing to the extent of $14,500 per annum free, the Chesapeake and Ohio hauling freight free for the tele- graph company to the extent of $1,200, each company maintaining its own lines ; with Ashland Coal and Iron Ry. Co., leasing to C. & O. Ry. Co. its road and appurtenances from Ashland to Denton, 21.3 m., for $24,000 per annum. 3. History.— Consolidation, in August, 1868, of the Virginia Central RR. Co. and the Covington and Ohio RR. Co. (see MANUAL for 1878, page 424). Sold under fore- closure April 2, 1878, and reorganized without change of name July 1, 1878. Again reorganized, but without foreclosure, on Oct. 1, 1888 (see MANUAL for 1889, page 1006). An outline of the company's history down to July 1, 1901, is in the MANUAL for 1902, on page 208. In the same edition of the MANUAL, on pages 209 and 210, the pur- chase of the Kineon Coal Terminals at Cincinnati, on Oct. 15, 1901, and the opening of the Richmond Passenger Station (owned and used jointly by this company and the Seaboard Air Line Ry.), on Nov. 1, 1901, are also recorded. The Kanawha Ry., which hag been operated as the Cabin Creek Branch of the Chesapeake and Ohio Ry. since 217 21 S POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. 1890, has been purchased and transferred to the Chesapeake and Ohio Ry. Co. by persons desiring the development of certain coal lands, the Chesapeake and Ohio agreeing to cancel its mortgage of $100,000 on the property, and to pay the sum of $17,033.33, repre- senting certain claims incurred while operating the road. The Greenbrier and New River RR., now known as the South Side Branch, and the Glen Jean, Lower Loop and Deep Water RR., now a part of the Loup Creek Branch, were absorbed by the Chesapeake and Ohio Ry. Co. on Oct. 26, 1901. In the absorption of the Greenbrier and New River RR, the Chesapeake and Ohio became liable for $550,000 bonds secured upon that road, but $216,000 of those bonds are held in the treasury. The road was completed Dec. 1, 1901, the cost of it amounting to $586,000. On Feb. 16, 1902, the Chesapeake and Ohio Ry. Co. completed the purchase of the $80,000 capital stock of the Alberene Ry. Co. by acquiring the $32,200 of outstanding shares, and has become duly vested with the title to that company's property. The Powellton and Pocahontas Ry., a line 8 miles long (see MANUAL for 1902, page 259), was purchased from the Mount Carbon ^Co., of Powellton, W. Va., on May 31, 1902, and was taken over for operation on Aug. 1, 1902. Coal Branches Projected in West Virginia. — Arrangements have been made to build several coal branches in West Virginia, aggregating about 53 miles in length, for the purpose of developing additional coal tonnage. The cost of these extensions will amount to about $1,200,000. Valuable contributions have been made to the company by persons interested in their construction. Interest in Richmond-Washington Company. — As of October 16, 1901, the company purchased 4,450 shares of the capital stock of the Richmond- Washington Co. at a cost of $445,000. This purchase represents a one-sixth ownership in the company owning the entire capital stock of the Washington Southern Ry. Co. and a controlling interest in the Richmond, Fredericksburg and Potomac RR. Co., and secures to this company an equal right with the other owners to the use of the line between Richmond and Washington. Lexington and Big Sandy RR. — Taking effect July 1, 1902, the Elizabethtown, Lex- ington and Big Sandy RR., the Ohio arti Big Sandy RR., the Ohio River and Charleston Ry. .*>f Kentucky and the Kentucky and South Atlantic RR., all Kentucky lines, were consolidated under the title of Lexington and Big Sandy RR., preliminary to a further consolidation with the Chesapeake and Ohio Ry. Co. A few shares of the Elizabethtown, Lexington and Big Sandy River RR. are still outstanding. Big Sandy Railway Company. — The Big Sandy Ry. Co. was organized June 10, 1902, to build a line from White House, the present terminus of the Big Sandy line, to the Breaks of Sandy, a distance of about 80 miles, at an estimated cost of $2,300,000. An issue of $4,000,000 of Big Sandy Ry. Co. 4j/£ p. c. bonds, principal and interest guar- anteed by the Chesapeake and Ohio Ry. Co., has been authorized, and $2,000,000 thereof will be issued at the present time. The construction of this line will develop a valuable coal and timber territory, located in Eastern Kentucky and Southwestern Virginia. The grades will be favorable to the traffic, and in connection with the present Big Sandy line, which needs revision, and the river line from Ashland to Cincinnati, a low grade line about 280 miles in length will be established, capable of accommodating trains of the heaviest tonnage. Steamship Properties. — The Chesapeake and Ohio Ry. Co. controls the Chesapeake and Ohio Steamship Co. by ownership of three-fifths of its capital stock, and controls the Coajtwise Steamship Co. by ownership of all its securities. The Chesapeake and Ohio Steamship Co. is a British corporation operating a line from Liverpool and London to Newport News. The Coastwise Steamship Co. operates a coal-carrying line between Newport News and New England. Separate statements for the steamship companies will be found in Sec. 16. 4. Capitalization of System. — Statement showing the capitalization of the Chesapeake and Ohio Ry. Co. and its controlled companies on June 30, 1902. The amounts of stocks and bonds afloat represent the securities outstanding in the hands of the public, POOR S MANUAL CHESAPEAKE AND OHIO RY. CO. 219 the difference between such amounts and the total issues being the amounts of stocks and bonds owned by the Chesapeake and Ohio Ry. Co.: NAME OF COMPANY. Road Owned. CAPITAL SToqK. FUNDED DEBT. TOTAL CAPITALISATION. Total. Afloat. Total. Afloat. Total. Afloat. Chesapeake & Ohio Rv M. 924.5 2.1 95.5 27.0 19.8 $ 60,541,100 1,500.000 5,000 500,000 88,800 $ 60,541,000 S 71,650,354 3,500,000 2,000,000 J 71,414,354 '2,bob,6oO I 132,191,454 5,000,000 2,005,000 500,000 288,800 S 131,955,354 Cov. A Cin. Elev. RR. 4 Tr. A Br. . . . Greenbrier Ry 2,000,000 Kinniconnick & Freestone RR 200,000 100,000 100,000 Elit, Lex. & Big Sandv 109.2 19.5 48.2 8.1 143.5 3,517,700 150,000 994,000 50,000 7,500,000 78,475 4,321,000 110,000 19,000 7,838,700 260,000 994,000 50.000 15,000,000 97,475 Kentucky & South Atlantic Ohio & Bi:; Sandv OhioRiv.&Ch.ofKy Maysville & Big Sandy RR 2,378,750 7,500,000 2,378.750 Totals 1,397.4 74,846,600 53,561 500,000 62,998,225 45,082 89,281,354 63,622 1,280,500 350,000 616,800 73,533,354 52,622 947,000 350,000 164,127,954 117,452 1,780,500 1,350,000 721800 136,531,579 97,704 947,000 750,000 Averages per Mile C. A 0. Grain Elevator C. A 0. Steamship 1,000,000 105,000 400,000 Grand Totals 1,397.4 76,451,600 54,710 63,398,225 45,369 91,528,654 65,499 74,830,354 53,549 167,980,254 120,209 138,228,579 98,918 5. Rolling Stock, June 30, 1902.— Locomotives, 403. Cars — passenger, 120; com- bination, 40; dining, 7; parlor, 10; baggage, mail, and express, 58; freight (box, 6,640; stock, 425; flat, 681; coal, 5,683; coke, 188), 13,617; service cars, 775, total cars, 14,627. This equipment does not include 25 locomotives and 5,700 cars leased under equipment trust arrangements ( see Sec. 6 ) . 6. Equipment Contracts and Car Trusts. — In addition to the locomotives and freight cars owned by it, as per Section 5, the company has in its possession 25 locomotives, 1,300 box cars and 4,400 gondola cars, the ownership of which is vested in the building companies, or in trustees, pending final payment for them. The balance unpaid on this equipment, and which was represented by six series of equipment notes and one scries of car trust obligations amounted to $2,669,116.88 on June 30, 1902, as follows: Equipment contracts (Series 4, covering 500 gondola cars, payable $3,333.33 monthly, $50,000; series 5, covering 800 gondola cars, payable $6,369.33 monthly, $152,863.92; series 6, covering 1,000 box cars, payable $9,116.67 monthly, $255,266.76; series 7, cover- ing 1,500 gondola cars, payable $19,372.60 monthly, $716,786.20; series 8, covering 600 gondola cars, payable $8,100 monthly, $340,200; series 9, covering 300 gondola cars, payable $2,000 monthly, $154,000), $1,669,116.88; car trust series "A," covering 25 loco- motives, 300 box cars and 700 gondola cars, payable $100,000 yearly with interest at 4 p. c., $1,000,000. Car Trusts Series B and Series C. — A contract has been made with the Girard Trust Co. of Philadelphia for 25 freight locomotives and 2,210 freight cars, to be de- livered between Aug. and Dec., 1902. A net cash payment of $255,774.20 was made on Aug. 15, 1902, and the balance of the cost, $2,000,000 was provided by issuing car trust series "B," payable $200,000 each Aug. 15 from 1903 to 1912, with interest at 4 p. c. per annum, title to the equipment to remain with the Girard Trust Co. until the final payment is made. A contract was also made with Blair & Co. of New York for 1,000 gondola cars, to be delivered in Sept., 1902. A net cash payment of $94,450 was made Sept. 1, 1902, and the balance of the cost, $1,000,000, was provided by issuing car trust series "C," payable $50,000 each 1st of March and Sept. to Sept. 1, 1912, title to the equipment to remain with Blair & Co. until the final payment is made. 7. Floating Equipment, June 30, 1902. — At Newport News — 2 passenger steam- ers, 5 tugs, 3 car floats and 6 barges. On Ohio River — 3 ferryboats and 1 car float. 220 POOR'S MANUAL OF RAILROADS SOUTH ATLANTIC GROUP. 8. General Income Account, year ending June 30, 1902. assenger $2,954,91941 Ki.ignt 12.833.806 33 Mall and Express 592,74300 Miscellaneous 142,909. >* Total (110,210.33 per mile) $16,524,37862 — Maint. Way and Struct.... 12,175,87601 Maintenance of Equipment 2,755,436 66 Conducting Transportation 5,177,966 87 General Expenses 289,212 74 Total ($6,245.17 per mile) $10,398.492 20 Net earnings (37.07 p. c.), $6,125,886.32; other income, $136,431.11— total, $6,262,- 317.43. Deductions: Interest on funded debt, $3,524,578.37; interest, discount, and ex- change, $23,922.81; taxes, $4235842.20; loss on C. & O. Grain Elevator and Cincinnati Coal Terminals, $36,948.46; loss on C. & O. Steamship Line, $143,716.51; C. & 0. steam- ship debentures purchased and cancelled, $48,900— total, $4,201,908.44. Net profit, $2,- 060,408.99. Deductions from net profit: Extraordinary expenditures for new equipment and construction, $1,030,427.96; dividend No. 3 (1 p. c., paid Nov. 27, 1901), $605,291; transferred to credit of extraordinary expenditure fund, $410,386.97— total, $2,046,105.93. Balance, surplus, $14,303.06; surplus forward (balance at credit June 30, 1901, $1,062,- 325.08; less, sundry old accounts written off, $14,303.06), $1,048,022.02 — total surplus as per general balance sheet, $1,062,325.08. O. Statement of operations and general balances for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles RR Operated 1,3406 1.340.6 2,551.097 5,684,832 1.340.6 2,604.271 6,638,207 1.425.0 2,689,868 5,891,825 1,425.5 2,723,228 6,044,579 1.506.6 2.793,955 5,969,060 1.618.4 3,081.822 6.271,443 2,50S.'.I10 5,649,444 Freight Train Miles Total Revenue Train Miles 8,158,360 1,957,954 99,864,173 0,544,835 1,836,024.472 $ 1,949.789 7.810,598 460.744 8,235,929 1,798,122 93.813,906 6,491,297 2.000.094,742 $ 1.857.898 8.389,374 460.911 9,242,478 1,925.502 100.592,358 7,806.914 2,513,221,007 $ 1,954,864 9,262.998 570,695 8,581,693 2,211,531 130,190,058 8,130,661 2,506,145,852 $ 2,422,052 9.062,879 524,908 8.767,807 2,536,529 135,852,014 9,746,840 2,946,894,104 $ 2.681,076 10,095,144 625,850 8,763,015 2,630,574 142.494,488 10,125,497 3,051,175,642 $ 2,826,813 11,842,213 702,516 9.353.265 2.693.097 146,048,685 10,904,165 3,194,336,608 $ 2,954,919 12,833.806 735.653 Passengers One Mile Freight (ton8) Moved Freight (ton) Miles. Frekht Other ... . Total Earnings. Operating Expenses 10,221,131 6,680,143 10,708,183 6,954,606 11,788,557 7,665,724 12,009,839 7,815,009 13,402,070 8,706,785 15,371.542 9.565,880 16,524,378 10,398,402 3,540,988 23,548 3,753,577 79,326 4,122,833 83,628 4,194.830 100,158 4,695,285 5,805,662 148,371 149,925 6,125,886 136,431 Other Receipts. Net Income 3,564.536 283,010 3,126.140 8.045 3,832,903 332,163 3,134,137 200.351 4,206,461 316,583 3,148,771 78,177 4,294,988 385,325 3,133,097 56,790 4,843,656 380,853 3,230,144 76,077 348,696 (1) 605,288 5,955,587 401,299 3,342,440 209,951 1.304,172 O) 605.291 6.262.317 423,842 3,524,578 253,488 1,440,815 (O 605,293 Taxes. Interest on Bonds. Other Charges Dividends . (1) 605,278 3,417.195 147.341 7.62202 4,97699 2,64503 65. 36 p. c. 1.95c. 0.43c. $ 60,554,400 65,040,679 691.267 2,273.915 685,034 3.666,651 166,252 7,98522 5.186 13 2.79909 64.95 p. c. 1.98 c. 0.42 c. $ 60.549,400 65,046.679 111.700 3,089.319 822.940 3,543.531 662.930 8,790 87 5.716 42 3.07445 65.03 p. c. l.94c. 0.37c. I 60.547.400 65.564,554 353,915 2.009.081 1,441.449 4,180.490 114.498 8,42796 5,397 94 3,03002 64.05 o. c. 1.86 c. 0.36 c. $ 60,536,400 67,575.554 859,869 2,070.363 2,147,580 4,641,058 202,598 9.39836 6,10574 3,292 62 64.97 p. e. 1.97 c. 0.34 c. $ 60,513.100 68.800,354 1.244,254 2.677.671 1,060,342 5,863,153 92,434 10,20280 6,34932 3,85348 62.23 p. c. 1.98 c. 0.39 c. $ 60.542,100 09,894,354 2.161,145 2.897.051 1,062,325 6,248.016 14,301 10,210 33 6.425 17 3,785 16 62.93 p. c. 2.02 c. 0.40 c, $ 60.541,100 71,650.354 Gross Earnings per Mile Net Earnings per Mile Expenses to Earnings Aver. Rate per Pass, per Mile. .. Aver. Rate per Ton per Mile . . Capital Stork Funded Debt Eqiiipnient Trusts. Other Ilibilities Profit and Low 3.759,553 1.062.325 Total Liabilities 129,245,295 127,656,435 220,990 1,358,870 129.620,038 127,892,462 315.095 1.412,481 129.916,399 127.039,405 184,983 2.692,011 133.195,766 129,075,572 201,806 3,918,388 134.325,721 129,381,353 423,495 4,520,873 136.556.975 130.926,162 689,644 4.941,169 137.013,332 134,489,730 509,729 2.013.873 Invested Assets Materials and Supplies Cwh and Current Assets Total Assets. 129,245,295 I29.620.03.S 129,916,399 133,195,766 134,325.721 136.550,975 137,013,332 POOR'S MANUAL CHESAPEAKE AND OHIO RY. CO. 221 1O. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $110,833,81158 Real Estate 25,751 31 Kineon Coal Viaduct 325,030 00 Bonds Owned 14,986,824 44 Stocks Owned 5,448,960 41 Miscellaneous Securities 231,076 08 Advances to Controlled Companies.. 1,845,036 99 Sundry Construction Accounts 793,23950 Materials and Supplies 509,728 87 Current Accounts...; 1,081.17605 Bills Receivable 20,47379 Cash on Hand 671,982 02 Special Cash Deposits 240,241 45 Total Assets 1137,013.332 49 First Preferred Stock $13,000,000 Less Deposited in Trust. . . 12,989,200— $10,800 00 Second Preferred Stock 12,000,000 Less Deposited in Trust.... 11,999,200— 800 00 Common Stock 60,529,50000 Funded Debt Outstanding (Sec. 12). 71,650.354 17 Extraordinary Exp. Fund 410,38697 Current Accounts 1,662,90662 Unpaid Coupons, Including July 1.. 217,99845 Interest Accrued on Funded Debt. . 838,302 71 Taxes Accrued, not Due 129,958 49 Temporary Loan 500,000 00 Profit and Loss 1.062,32508 Total Liabilities $137,013,332 49 11. Capital Stock. — The capital stock created in the reorganization consisted of $12,000,- 000 of 1st preferred stock, $12,000,000 of 2d preferred stock and $40,000,000 of common stock — a total of $64,000,000. When the Richmond and Allegheny RR. was purchased the 1st preferred stock was increased to $13,000,000 and the common stock to $46,000,000, making the total amount of the capital stock $71,000,000. In 1892, with the purpose of retiring the preferred stock, the holders of the 1st preferred were offered two-thirds of the face value of their shares in general mortgage bonds and one-third in common stock, and the holders of the 2d preferred were offered one-third of the face value of their shares in general mortgage bonds and two-thirds in common stock. In accordance with this offer $12,989,200 of the 1st preferred stock and $11,999,200 of the 2d preferred stock had been converted June 30, 1902. The converted shares are deposited in trust and held alive, to preclude any advantage to shares not converted. 12. Funded Debt. — The funded debt outstanding on June 30, 1902 — total, $71,650,354.17, as per general balance sheet — consisted of the several issues of bonds, listed in the following state- ment. Additional particulars respecting any issue will be found in the paragraph relating thereto subjoined to the statement : $650,000.00 Craig Valley Br. 1st gold 5s of July 1, 1940, int. J. & J. 400,000.00 Warm Springs Br. 1st gold 5s of Mar. 1, 1941, int. M. & S. 32,832,000.00 General gold 4Js of March 1, 1992. 555,000.00 G. & N. R. RR. 1st gold 5s of Aug. 1, 1942, int. F. & A. 200,000.00 K. Coal Co. 1st gold 5s of Oct. 1, 1915. $2,000,000.00 Series A 1st gold. 6s of July 1, 1908. 13,354.17 Series B ( aud scrip) 1st gold 6s of July 1, 1908, int. A. & O. 2,000,000.00 Peninsula Ext. 1st gold 6s of Jan. 1, 1911, int. A. & O. 142,000.00 Terminal 1st gold 6s of June 1, 1922. 25,858,000.00 1st consol. gold 5s of May 1, 1939. 6,000,000.00 R. & A. Div. 1st gold 4s of Jan. 1, 1989. 1,000,000.00 R. & A. Div. 2d gold 4s of Jan. 1, 1989. First Mortgage Bonds. — The 1st mtge. bonds of 1908 (series A and B) are secured on the main line (Richmond to Huntington) and franchises of the old C. & O. Ry. Co. The bonds of series A were Issued under the same mortgage as series B bonds, have equal security therewith, and, in addi- tion, are specially secured by a lien, in common with the $2,000,000 6s of 1911, on the Newport News Extension and the Newport News terminal facilities. Peninsula Extension Bonds. — Secured on the line from Newport News to Richmond, 75.10 miles. Terminal Bonds. — Secured on the extension from Newport News to terminals, 7.8 miles. First Consol. Mtge. Bonds. — The 1st consol. mtge. bonds cover the entire old line of the company, and also (by deposit with trustee of the stocks and bonds issued by the companies owning them and belonging to the C. & O. Ry. Co.) the extension from Ashland to Covington and the bridge across the Ohio River from Covington to Cincinnati ; a total of 658.59 miles. Enough of the bonds are reserved for the retirement of the before described divisional liens. Richmond and Allegheny Division Bonds. — The R. & A. Div. bonds are secured, in the order of their priority, on the line from Richmond to Clifton Forge, Va., with branch from Balcony Falls to Lexington, together 253.32 miles. Craig Valley Branch Bonds. — Secured by first mortgage on the Craig Valley Extension, from Bessemer to Craig City, 26.06 miles. Warm Springs Branch Bonds. — Secured by first mortgage on the line from Covington to Hot Springs, Va., 24.78 miles. General Mortgage Bonds. — Secured on the entire property of the C. & O. Ry. Co., " whether now owned or hereafter acquired by use of bonds secured by the same mortgage." They are additionally secured by deposit with the Central Trust Co. of New York of $11,551,402.71 of stocks, bonds and obligations of subsidiary companies, as shown in detail in Sec. 14. The amount of bonds authorized by the mortgage is $70,000,000, but additional bonds, having equal pro rata security under the mortgage, may be issued from time to time to provide for the actual cost of double tracking the road. Such additional amount of bonds shall not exceed an average of $25,000 per mile of double track, however, nor be issued at a rate exceeding $1,500,000 in any calendar year; and no section of double track for which they may be issued shall be less than three miles in length, unless it be to connect two other sections. Sufficient bonds of the $70,000,000 are reserved for the retirement of all prior liens, except the R. & A. Div. bonds, and for the retirement of the first and second preferred stock ; the balance may be issued at a rate not exceeding $2,000,000 a year, for the construction or acquisition of branch lines, for the acquisition of securities of companies owning such lines, or of steamship companies operating to or from Hampton Roads, or for the purchase of rolling stock, for new construction (other than double track) and betterments, or the purchase of additional property either upon, along or appurtenant to the railways owned or controlled by the C. & O. Ry. Co. In the case of additional lines of railway so acquired the mortgage is to be a first lien thereon, or if any prior liens are outstanding, a like amount of these bonds (out of the $70,000,000) is to be reserved for their retirement. Since June 30, 1902, additional gen. mtge. bonds to the amount of $2,001,000 have been issued, making the total outstanding on March 1, 1903, $34,833,000. Greenbrier and New River RR. Bonds. — Assumed by the C. ft O. Ry. Co. in the consolidation with the Greenbrier and New River RR. Co. Secured on the South Side Branch, from Hawk's Nest 222 POORS MANUAL OF RAILROADS — ROUTH ATLANTIC GROUP. to Thurmond. W. Va.. 18.3 miles. There are only $339,000 of the beads actually outstanding, the remaining $216,000 being held in the treasury of the company. Kint-un Coal Co. Bonds. — Assumed by the C. & O. Ry. Co. in the purchase of the Ktnoon Coal Ti rmiiuils at Cincinnati. Secured on the property formerly of the Kineon Coal Co. The bonds are subject to redemption on Oct. 1, 1905, or on any interest day thereafter. l.'t. Guaranteed Bonds. — The company Is also liable as guarantor of the Norfolk Terminal and Transportation Co. 1st mtge., $500,000 ; C. & O. Grain Elevator Co. 1st intge., $830,000 ; Greenbrier Ry. Co., 1st mtge., $2,000,000; Passenger & Belt Ry. Co., 1st mtge., $150,000; Louis- ville & Jeffersonville Bridge Co., 1st mtge. (C., C., C. & St. L. two-thirds; C. & O. one-third), $3,000.000 ; C. & O. Steamship Co., Ltd., 1st mtge., £70,000. 14. Securities Owned. — Statement of securities owned by the Chesapeake and Ohio Ry. Co. on June 30, 1902, showing the securities deposited as collateral to the con- solidated and general mortgages and those held in the treasury of the company. Total Owned Deposited under C. A i ) Mortgages Held in Treasury Consol. General Bonds. Brooklyn Coal Co. 1st Mtge. 6 p. c. Bonds $ 12,000.00 $ | $ 12,000.00 20,000.00 333 500 00 Chesapeake A Ohio Ry. Co., Gen. Mtge 4J p.c. Bonds.. . . 20,000.00 333,500.00 616,800.00 3,500,000.00 3,263,000.00 550,000.00 489,000.00 216,000.00 110,000.00 100,000.00 15,000.00 7,500,000.00 56,800.00 572,977.71 12,400.00 8,000.00 15,000.00 r>.r,8,400.00 58,400.00 Cov. A Cin. Kiev. RR.ATr.ABr.Co.,lst Mtge.5p.c.Bonds Kliz., Lex. A Big SandyRR.Co.lst Mtge. 5 p. c. Bonds. . 2d Mtge. 6 p. c. Bonds . . Debenture 5 p. c. Bonds Greenbrier & New River RR Co., 1st Mtge. 5 p.c.Bonds. Kentucky & South AtlanticRR.Co.,lst Mtge.Gp.c.Bonds Kinniconnick & Freestone RRCo., 1st Mtge. 6p.c. Bonds. 3,500,000.00 3,263,000.00 550,000.00 489,000.00 ' 216,6ob'.66 7,500,000.66 110,000.00 100,000.00 15,000.00 Maysville & Big Sandy RR. Co., 1st Mtge. 5 p.c.Bonds. . . Ohio & Big Sandy RR., Notes Obligations Old Point Comfort Imp. Co., 2d Mtge. 6 p. c. Bonds 56,800.00 572,977.71 12', 400.66 8,000.00 15,000. 00 10,000.00 10,000.00 2,000.00 340,000.00 Red Ash Coal Co. 1st Mtge. 6 p. c. Bonds. Rich Patch Iron 17,800.00 75,000.00 5,000.00 Guyandot Valley Ry. Co Kentucky & South Atlantic Ry. Co 500,000.00 150,000.00 Kinniconnick A Freestone RR. Co 88,700.00 475,000.00 121,250.00 1,500.00 100,000.00 (1,200.00 18,600. (K> 120,000.00 1,000.00 445,000.00 103,500.00 103,500.00 5,000.00 2,250.00 Louisville A Jeffersonville Bridge Co Maysville A Big Sandy RR. Co Newport News Publishing Co 5,000,000.00 Norfolk Terminal & Transportation Co Norfolk A Portsmouth Belt Line RR. Co. . . Ohio A Big Sandy RR. Co ' Ohio Hi ver A Charleston Ry. Co. of Ky . . 994,000.00 50,000.00 Old Point Comfort I mprovement Co ( >ld Dominion Steamship Co Richmond Chamber of Commerce Richmond-Washington Co Trigg, William R., Co., Common Preferred Virginia Navigation Co., Common Preferred Totals 14,609,525.00 6,479,000.00 6,836,225.00 2,294,300.00 15. Gout of Road and Equipment. — The cost of road and equipment on June 30, 1901, was $112,047,401.45; add for amount expended during the year (payments for new freight cars, $961,085.04; cost of Greenbrier and New River RR., $586,000; cost of Alberene RR., $80,000; POOR S MANUAL — CHESAPEAKE AND OHIO RY. CO. 223 cost of Glen Jean, Lower Loup and Deep Water RR., $76,750.49 ; cost of Kanawha Ry., $17 033 33 • second track. $113,878.58), $1,834,747.44 — total, $113,882,148.89. Deductions: Old securities purchased and cancelled, $1,072 ; sale of land and water power rights at Judith's Dam, $7,971.98 ; sundry credits on account of construction work, $32,293.33; Elizabethtown, Lexington and Big Sandy RR. 1st mtge. bonds, $3,007,000 — total, $3,048,337.31. Total as per balance sheet, June 30, 1902, $110,833,811.58. The securities of controlled roads and the advances to controlled roads were included in former years in cost of road and equipment. 16. COMPANIES CONTROLLED BY THE CHESAPEAKE AND OHIO RY. Co. BIG SANDY RY — Projected from White House, Ky., the terminus of the Big Sandy Line, to Elkhorn City, Ky., at the Breaks of Sandy, a distance of 76.07 miles. HISTORY. — Organized June 10, 1902. by the consolidation of the Big Sandy Ry. Co. of Vir- ginia and the Big Sandy Ry. Co. of Kentucky. FINANCIAL STATEMENT. — The estimated cost of the road is $2,300,000. Capital stock ($100 shares), $100,000, all owned by the Chesapeake and Ohio Ry. Co. An issue of 4J p. c. bonds to the amount of $4,000,000 has been authorized, of which $2,000,000 will be issued at once. Principal and interest of these bonds will be guaranteed by the Chesapeake and Ohio Ry. Co. CORPORATE OFFICERS. — G. W. Stevens, Pics. ; Decatur Axtell, Vice-Pres. ; H. T. Wick- ham, 2d Vice-Pres. ; C. E. Potts, Treas. ; C. E. Wellford, Sec., Richmond, Va. Office, Richmond, Va CHESAPEAKE AND OHIO GRAIN ELE- VATOR CO — Chartered July 12, 1882. Owns elevator at Newport News. Operated at cost by C. & O. Ry. Co. Capital stock (all owned by C. & O. Ry. Co.), $500,000. Bonded debt, $1,280,500, consisting of $10,000 old 6s of Oct. 1, 1903 ; $820,000 1st 4s of Oct. 1, 1938 ; and $450,500 income 4s of Oct. 1, 1988. The C. & O. Ry. Co. guarantees the 1st 4s of 1938, both as to principal and interest. G. W. Stevens, Pres., Richmond, Va. CHESAPEAKE AND OHIO STEAMSHIP CO., LTD. — An English company, registered Nov. 15, 1892. Operates a line of steamships from Liverpool and London to Newport News. Con- trolled by the Chesapeake and Ohio Ry. Co., through ownership of a majority of the capital stock. FINANCIAL STATEMENT. — The authorized capital stock is £250,000 in £10 shares, of which £200,000 of full paid shares have been issued. The Chesapeake and Ohio Ry. Co. owns £120,000 of these shares. On June 30, 1902, there were outstanding £70,000 of 5 p. c. 1st mtge. debenture bonds, redeemable at the rate of £10,000 a year, being the outstanding balance of an issue of £150,000. The bonds are guaranteed, principal and interest, by the Chesapeake and Ohio Ry. Co. Interest on them is payable on Jan. 1 and July 1. CORPORATE OFFICERS. — C. Furness, Chair- man ; W. W. Diggens, Sec., London, Eng. Office, 4 Fenchurch Avenue, London, E. C. COASTWISE STEAMSHIP CO This com- pany owns 2 ocean tugs and 15 barges and leases 3 steamers engaged in the coal-carrying trade between Newport News and New England. The fleet is leased to the Chesapeake and Ohio Coal Agency Co., for an amount sufficient to pay in- surance, cost of repairs and interest on bonds. FINANCIAL STATEMENT. — Capital stock, $105,000; funded debt, $638,800 — total, $641,800, all owned hy the Chesapeake and Ohio Ry. Co. CORPORATE OFFICERS. — G. W. Stevens, Pres. ; Decatur Axtell, Vice-Pres. ; C. E. Potts, Treas. ; W. W. Willett, Sec., Richmond, Va. Office, Richmond, Va. COVINGTON AND CINCINNATI ELE- VATED RR. AND TRANSFER AND BRIDGE CO Covington. Ky., to Cincinnati, O., 2.1 m., embracing bridge across Ohio River and extensive terminals in Cincinnati and Cov- ington. Locomotives, 4. HISTORY. — Consolidation, Feb. 2, 1886, of a company of the same name, of Kentucky, and the Ohio and Kentucky Bridge Co., of Ohio. Opened Jan. 3, 1889. (See Manual for 1891, page 108) Operated at cost by C. & O. Ry. Co., the oper- ating results being included in the statement for that company. BALANCE SHEET, June 30, 1902. — Capital stock, $1,500,000; funded debt (1st 5s of Oct. 1, 1937), $3,500,000 — total, $5,000,000. Cost of road and equipment, June 30, 1902, $5,495,947. The C. & O. Ry. Co. owns all the stock and all the bonds and has deposited them under its 1st consolidated mortgage. CORPORATE OFFICERS. — G. W. Stevens Pres. ; D. Axtell, Vice-Pres. ; C. E. Wellford, Sec., Richmond, Va. ; L. E. Osborn, Treas., Cin- cinnati, O. Office, Richmond, Va. GREENBRIER RY Whitcomb to Durbln, W. Va,, 95.5 miles. Rail (steel), 62 Ibs. HISTORY. — Chartered Nov. 16, 1897 ; road com- pleted as above on June 1, 1901, and tracklaying on the remaining 14 miles, from Cass to Durban, was expected to be completed by Nov. 1, 1901. FINANCIAL STATEMENT.— Capital stock ($100 shares), $5,000; funded debt (1st gold 4s of Nov. 1, 1940), $2,000,000. Cost of road, $2,050,902. The capital stock is owned by the C. & O. Ry. Co., and that company guarantees the bonds, both as to principal and interest. The authorized ifsue of bonds is $3,000,000, the $1,000,000 unissued being reserved for the construction or acquisi- tion of extensions or branches of the Greenbrier Ry., and for betterments. CORPORATE OFFICERS. — G. W. Stevens, Pres. ; Decatur Axtell, Vice-Pres. ; C. E. Well- ford, Sec. ; C. E. Potts, Treas., Richmond, Va. Office, Richmond, Va. GUYANDOT VALLEY RY. — Barboursville to Midkiff, W. Va., 26.5 miles. Rail (steel), 02 Ibs. HISTORY. — Chartered March 1, 1899; road built in 1900. FINANCIAL STATEMENT. — Capital stock ($100 shares), $500,000, representing cost of road. The capital stock is owned by the C. & O. Ry. Co. CORPORATE OFFICERS. — J. L. Caldwell, Pres., Huntington, W. Va. ; Decatur Axtell, Vice- Pres. ; C. E. Wellford, See. ; C. E. Potts, Treas., Richmond, Va. Office, Richmond, Va. KANAWHA AND POCAHONTAS RR Pratt, W. Va., to end of track, 14 miles. Rail (steel), 75 Ibs. This is a private road, owned by Charles Pratt & Co., 26 Broadway, New York, N. Y. It was completed in Sept., 1900. Leased to the Chesapeake and Ohio Ry. Co. for 50 years, from June 12, 1901. CORPORATE OFFICERS. — C. M. Pratt, Pres. ; George D. Pratt, Vice-Pres. ; A. C. Bedford, Treas. ; H. I. Pratt, Sec., 26 Broadway, New York, N. Y. Office, Pratt, Kanawha County, W. Va. KINNICONNICK AND FREESTONE RR. — Stone City, Ky., to Quarries, 19.8 miles. INCOME ACCOUNT. — Earnings, year ending June 30, 1902, $10,283. Expenses and taxes, $23,- 700. Deficit, $13,583. FINANCIAL STATEMENT. — Capital stock, $88,800; funded debt (1st mtge. 6s), $200,000; un- funded debt, $21,437 — total, $310,237. Cost of road, etc., $291,073. Stock and bonds, all owned by C. & O. Ry. Co., the bonds being deposited under that company's general mortgage. CORPORATE OFFICERS. — O. W. Stevens, Pres. ; Decatur Axtell, Vice-Pres. ; C. E. Well- ford, Sec. ; C. E. Potts, Treas., Richmond, Va. Office, Richmond, Va. 224 POOB'B MANUAL OP RAILROADS — SOUTH ATLANTIC GROUP. II \IN<.io\ \MI Hl<; SAMIY RY.— L«x- Incton lo Urn tun. Ky., 109.6 m. . tilt. Sterling lo KothwHI. Ky.. !'.' .5 in. ; Ashland to White House. ! m ; Richardson to Peach Orchard. Ky.. m. ; 2<1 track. 7 m. ; total track (•lev): 50 to 62 Ibs >. 239.2 miles. HISTORY.— CoaaoUdatkm, July 1, 1902, of the Ehubothtuwn. Lexington and Hlg Sandy UK. Co., Knitucky and South Atlantic UK. Co., Ohio and 111* Sandy KK. Co., and Ohio River and Charles- loo RR, Co. of Kentucky, four proprietary com- panies of tbe Chesapeake and Ohio Ry. Co., the mileage and capitalization of which are shown In Sec. 4. This consolidation Is preliminary to a further consolidation with the Chesapeake and Oli 10 Ky. Co. FINANCIAL STATEMENT. — Capital stock, I4.SOO.OOO. all owned by the Chesapeake and Ohio Rjr. Co. CORPORATE OFFICERS. — O. W. Stevens, Prw. ; Ih-oatur Axtell. Vice-Free. ; C. E. Potts, Trcaa. ; C. E. Wellford, Sec.. Richmond, Va. Office. Richmond, Va. M \ \ s M 1.1.1: AND BIG SANDY RR.— Ast •land to Covlngton. Ky., 144 m. ; 2d track, 8.6 m. ; total track (steel; 75 Ibs.), 211.6 miles. HISTORY. — Chartered Dec. 18, 1850. and bj subsequent acts. Road opened Jan. 3, 18 Operated at cost by C. & O. Ry. Co. ROLLING STOCK. — Locomotives, 20. Cai 1,618. FINANCIAL STATEMENT. — Capital stock J7.WJO.OOO; funded debt (1st mtge. 5 p. c. 60-yr. $1,000 coupon bonds, due Feb. 1, 1938, intere Feb. and Aug., in New York), $7,500,000; un- funded debt (advances by C. & O. Ry. Co.), J800,- 886 — total, $15,808,886. Contra : Cost of road, etc. J15.879.155. Tbe C. & O. Ry. Co. owns J5.000.0 of the capital stock and all of tbe bonds and ha deposited them under its 1st con.^ol. mtge. CORPORATE OFFICERS. — G. W. Stevens Pres. ; Decatur Axtell, Vice-Prea. ; C. E. Well- ford, Sec. ; C. E. Potts, Treas., Richmond, Vs Office, Richmond, Va. 17. Board of Directors, Chesapeake and Ohio Ry. Co., elected October 21, 1902. H.McK.TwomblyNew York.N.Y. W. H. Newman.... " C. M. Depew " S. M. Prevost. Philadelphia, Pa. Samuel Rea John P. Green " G. W. Stevens. ..Richmond, Va Decatur Axtell.. " H. T. Wickham.. GEOBGE W. STEVENS, President Richmond, Va. Decatur Axtell, V ice-President Trtmntrer — C. E. Potts Richmond, Va. | Secretary — C. E. Wellford Richmond, Vfl Comptroller — L. F. Sullivan Richmond, Va. PBINCIPAL OFFICE AND ADDRESS Richmond, Va. GEORGIA RAILROAD AND BANKING COMPANY. 1. Main Line of Road.— Augusta, Ga., to Atlanta, Ga 171 milea. At h< UK Branch: Union Point to Athens, Ga 40 m. U ./.V/M'/I ///<,>i Branch: Barnett to Washington, Ga 18m. M •OHfttofr^W'^e* s" r-^2*— HChehaw "•" (•Oj»I.7vJT_iS-^^C^37 V, COLUMBUS Lvngltudt GEORGIA AND ALABAMA. Railroad Map of Georgia and Alabama. NOW READY. MONEY AND ITS LAWS: EMBRACING A HISTORY OF MONETARY THEORIES AND A HISTORY OF THE CURRENCIES OF THE UNITED STATES. By HENRY V. POOR, Poor's Railroad Manual Co. ,68 William St., New York. I vol., royal octavo, cloth, pp. xl.( 623. Price, $5.OO. Sent, free of postage, upon receipt of price, by the publisher*, and for gale by all booksellers. Of the excellence and completeness of vbe work the publishers present the following testimonial : " The undersigned, having carefully examined the work recently published by Mr. HENRY V. POOR upon the subject of MONEY, hereby express their conviction that he has unfolded its NATURE and LAWS with an amplitude and clearness which have all the force of demonstration. His assump- tion of treating money as a subject coming within the range of the exact sciences has been well sustained. The application of the principles laid down in the first part of his work cannot tail to restore order in the place of the chaos of opinion which now prevails, and to point out, unmistakably, the conditions necessary to a restoration of the currency of the country to the standard of coin, we command the work to the public as an able, scholarly, painstaking, and exhaustive treatise upon a subject in which is involved, more than in any other now engaging their attention, the welfare of the people of the United States." GEORGE S. COE, President American Exchange National Bank, New York. J. D. VERMILYE, President Merchants' National Bank, New York. JOHN CUMMINGS. President Shawmut National Bank, Boston, Mass. JAMES H. BE AL, President Second National Bank, Boston, Mass. WINSLOW, LANIER & CO.. Bankers, New York. JAMES A. DUPEE, Treasurer Hamilton & Appleton Mfg. Co ., Boston, Maas. POOR S MANUAL — GEORGIA RR. AND BANKING CO. 225 per cent, of the dividends to and including that of April 15, 1898, are in the MANUAL for 1898, page 456. (See GENERAL INDEX for table of DIVIDENDS PAID BY RAILBOAD COM- PANIES.) 4. Statement of the income and capital accounts, Lessor Co., for seven fiscal years: 1897 1898 1899 1900 1901 1902 1903' S 600,000 21,672 $ 600,000 24,052 $ 600,000 21,093 S 600,000 19,820 $. 600,000 $ 600,000 $ 600,000 Other Receipts Net Income 621,672 256 148,000 473,416 ,11)462,000 4,200,000 2,500,000 1,171,699 624,052 307 143,000 480,745 (11)462,000 4,200,000 2,500,000 1,190,443 621,093 252 138,000 482,841 (11)462,000 4,200,000 2,500,000 822,385 619,820 268 138,000 481,552 (11)462,000 4,200,000 2,500.000 841,937 600,000 59,252 138,000 402,748 (11)462,000 4,200,000 2,500,000 782,685 600,000 6 138,000 461,994 (11)462,000 4,200,000 2,500,000 782,679 600,000 2 138,000 461,998 462,000 4,200,000 2,500,000 782,677 Sundry Expenses. . . . Interest on Bonds. . Funded Debt Income Sundry Accounts. 32,256 25.590 24,285 20,483 20,245 18,851 19,953 Total Liabilities. . . Road an' Outfit Macon & Augusta RR. Stocks, Bonds, etc . . . Cash andjCash Assets. Total Resources . 7,903,955 4,200,000 1,230,000 2,164,010 309,945 7,916,033 4,200,000 1,230,000 2,164,010 322,023 7,546,670 4,200,000 1,230,000 1,775,110 341,560 7,562,420 4,200,000 1,230,000 1,775,110 357,310 7,502,930 4,200,000 1,230,000 1,691,110 381,820 7,501,533 4,200,000 1,230,000 1,709,790 361,743 7,502,630 4,200,000 1,230,000 1,721,988 350,642 7,903,055 7,916,033 7,546,670 7,562,420 7.502,930 7,501,533 7,502,630 5. Funded Debt The funded debt outstanding on March 31, 1903, consisted of (1) $1.- 000,000 6s of Jan. 1, 1910 ; (-2) $300,000 6s of Jan. 1, 1922, and (3) $1,200,000 5s of Jan. 1, 1922. O. Company's General Balance Sheet, March 31, 1903. Road and Outfit $4,200,00000 ~ • • -• - Macon and Augusta RR 1,230,000 00 Joint Interest in Hari?on Block 30,947 59 Stock Ga. RR. Bank 198,20000 Stocks and Bonds 1,492,840 00 Bills Receivable 25,00000 Cash (on deposit in Bank) 336,642 31 Capital Stock $4,200,000 00 Surplus 782,677 02 Funded Debt Outstanding 2,500,000 00 Accrued Interest on Bonds Unpaid — 4,410 00 Unclaimed Dividends 15,54288 Total Assets $7,502,629 90 Total Liabilities $7,502,629 90 7. Securities owned by Georgia Railroad & Banking Co., and held by said company for use of Georgia Railroad Lessees, June 30, 1902. DESCRIPTION Par Value Ledger Valuation S 1,500,000.00 547,200.00 31,000.00 25,000.00 $ 900,000.00 561,840.00 31,000.00 25,000.00 2,103.200.00 388,900.00 140 000 00 1,517,840.00 388,900.00 8.000.00 3,333.34 536,900.00 2, 1 03, L>< !'!()() 536,900.00 392.233.34 1,517,840.00 392,233.34 2,640,100.00 1,910,073.34 1 5,000 Shares Stock Western Railway of Alabama, $100 each 5,472 Shares Stock Atlanta and West Point RR. Co., $100 each 31 Bonds Walton Railroad Co., $1 ,000 each, 6 per cent Cash Realized from Sale of Union Point and White Plains Railroad Co. Securities, via. : 200 Shares of Stock, 820,000, and 84 Bonds, $84,000, for which the Georgia Railroad and Banking Co. holds note . . Total held by Georgia Railroad and Banking Co. Securities Oumed and Held by the Lesfees • Certificate Indebtedness A. & W. P. RR. Co.. 6 per cent 2,800 Shares Common Stock, Gainesville, Jefferson & South. RR. Co., $50 each . 160 Shares Preferred Stock Gainesville, Jefferson & Southern RR. Co., $50 each Total held by Lessees Georgia Railroad RECAPITULATION Securities held by Georgia Railroad and Banking Co . . Securities held by Georgia Railroad Lessees Total Securities. . . 2V.T) POOR'8 MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. 8. Income from Securities Owned. — The income from securities held by the com- pany ($2,047,200 as above) during the year ending March 31, 1903, was as follows: Divi dend* on W. Hy. of Ala. stock, $00,000; on A. A W. P. RR. stock, $56,166— total, $116,166; all of which has been paid over to lessee of Georgia RR. under the terms of the lease. FINANCIAL STATEMENTS or THE GEORGIA RAILROAD BANK. 9. Income Account, year ending Dec. 31, 1902. — Earnings — discounts, $109,392.03; exchange, $7,735.15; rents and dividends, $7,218.39; old claims, $653.35 — total, $124,- 998.92. Expenses of company and bank, $77,205.17; losses in bad debts, $17,170.05; re- duction value real estate, $76,802.81— total, $171,178.03. Deficit for year, $46,179.11. Un- divided profits from last year, $190,336.18. Net undivided profits on Dec. 31, 1902, $144,157.07. 10. Balance Sheet, March 31, 1903. — Capital stock, $200,000; undivided profits, $158,018.92; due depositors and banks, $2,027,408.06— total liabilities, $2,385,426.98. Contra: Loans and discounts, $1,771,897.10; bonds and stocks, $70,376.89; banking house, $50,000; other real estate, $40,454.79; due from banks, $242,040.09; cash, $210,658.11— total, $2,385,426.98. 11. Board of Directors, Oa. RR. d B. Co., as constituted May 1, 1903. Jacob Phinizy Augusta, Ga. H. D. McDaniel. ..Monroe, Ga. H. H. Hickman.... Augusta, Ga. Thos. Barrett, Jr. " T. M Green.. .Washington, Ga. K. W. Butler Madison, Ga. A. W. Calhoun Atlanta, Ga. T. W. Coskery Augusta, Ga. Leonard Phinizy. . " James White Athens, Ga. R. D. Spalding Atlanta, Ga. Wm. A. Latimer. .Augusta, Ga. George A. Speer. . . Atlanta, Ga. Wm. W. Thomas. ..Athens, Ga. James Tobin Augusta, Ga. Billups Phinizy Athens, Qa. Henry B. King — Augusta, Ga. JACOB PHINIZY, President Augusta, Ga. C. G. Goodrich, Cashier GEORGIA RAILROAD — STATEMENT OF THE OPERATIONS, ETC., OF THE GEORGIA RAILROAD, LOUISVILLE AND NASHVILLE RR. Co. AND ATLANTIC COAST LINE RR. Co., Lessees. 1. Mileage Operated, June 30, 1902: Leased: Georgia RR. (as per mileage statement on page 224) 307 miles. Controlled: Gainesv., Jefferson & Southern RR. (See subjoined statement) ... 65 " Owned or Controlled f Au9^sta Belt Ry. (See subjoined statement) 7 " by Lessees GaRR 1 *«|«fc«*«e Ry. (See General Index-Street Rys.) .. 6 " (Lexington Terminal RR. (See subjoined statement) ... 4 " Total length of lines operated, June 30, 1902 .'. 389 miles. The Gainesville, Jefferson and Southern RR. is of 3-ft. gauge; the others are stand- ard gauge roads. The Georgia Railroad Lessees hold T"$j interest in the Gainesville, Jefferson and Southern RR. Co., and have endorsed $236,500 bonds of the same company. Under the terms of the lease from the Georgia RR. and Banking Co., the Lessees hold interests in the Atlanta and West Point RR., 87 miles, and Western Ry. of Alabama, 138 miles, a total of 225 miles, making the aggregate mileage of the system, 614. The Union Point and White Plains RR. has been surrendered to its owners. 2. Rolling Stock, June 30, 1902.— Locomotives, 50. Cars— passenger, 34; com- bination, 4; sleeping, 6; baggage, mail, and express, 16; freight (box, 1,070; flat, 183; coal, 243; stock, 43; furniture, 5; refrigerator, 5), 1,549; service, 49 — total cars, 1,658. 3. Earnings and Expenses, Supplementary Statement, 1 1 months ending May 31, 1903, and comparison with 11 months ending May 31, 1902. — Gross earnings— 1903, $2,143,441.07; 1902, $1,848,838.69; increase, $294,602.38. Operating expenses— 1903, $1,467,004.95; 1902, $1,227,976.40; increase, $239,028.55. Net earnings— 1903. $676,436.12; 1902, $620,862.29; increase, $55,573.83. Net income— 1903, $764,519.12: 1902, $708,945.29; increase, $55,573.83. POOR'S MANUAL— GEORGIA RR. 227 3a. Operations, Georgia RR. and controlled line, year ending June 30, 1902: Georgia RR. G., J. * S. RR. TOTAL ALL, LINKS 1902 1901 307 687,235 1,017,914 65 13,208 372 700,443 1,017,914 233,164 342,636 372 685,688 899,984 245,700 323,558 Freight 111,772 342,636 121,392 Other 2.159,557 556,803 21 .063,343 1,106,013 132,529,972 $ 527,279.39 1,379,170.01 45,110.88 28,351.74 6,845.49 134,600 57,212 847,232 67,576 1.822,387 S 25,830.63 69,820.87 3,452.28 706.42 2,294,157 616,015 21,910,575 1,173,589 134,352,359 S 553,110.02 1.448.J90.88 48,563.16 29,058.16 0,845.49 2,154,930 663,524 20,634,781 1,120,764 121,537,023 1 515,194.74 1,334,164.30 48,566.50 24,084.41 5,011.68 Freight Mail Miscellaneous Total Earnings 1,986,757.51 228,925.07 248,129.11 708,037.12 142,886.70 12,550.50 99,810.20 17,939.54 8,580.33 47,047.52 10,034.13 2,729.59 2,086,567.71 246,864.61 256,709.44 755,084.64 152,920.83 15,280.09 1,927,021.63 220,338.85 300,853.07 706,652.49 138,769.62 15,296.80 Expenses— Maintenance Way and Structures Maintenance of Equipment Transportation General . Taxes Total Operating Rxpenses 1,340,528.50 646,229.01 116,166.00 86,331.11 13,479.09 1,426,859.61 659,708.10 116,166.00 1,381,910.83 545.110.80 117,423.00 Net Earnings Other Receipts— Interest and Dividends Total N«t Income 762,395.01 13,479.09 16,555.00 775,874.10 16.555.00 600,000.00 662.533.80 16,555.00 600,000.00 Doduct Interest on Bonds. . .... Rental Georgia . Directors (elected Oct. 16, 1902).— T. C. Burke, J. F. Hanson, J. M. Johnston, W. E. McCaw, \V. C. Shaw, T. D. Tinsley, Macon Ga.; F. M. Edwards, Boston, Mass.; T. B. Greshara, Baltimore, Md.; E. C. Long, Jacksonville, Fla.; W. A. Merryday, Palatka, Fla.; G. W. Parrott, Atlanta, Ga.; A. S. Pendleton, Valdosta, Ga.; H. P. Smart, Savan- nah, Ga. ; Samuel Spencer, New York, N. Y. ; H. H. Tift, Tifton, Ga. SAMUEL SPENCER, President New York, N. Y. Wm. Checkley Shaw, Vice-President Macon, Ga. Sec. A Treat. — Ben. C. Smith Macon, Ga..] Auditor — W. F. Buchannon Macon, Oa. PRINCIPAL OFFICE AND ADDRESS Macon, Ga. NEW YORK, PHILADELPHIA AND NORFOLK RAILROAD COMPANY. 1. Main Line of Road.— Delmar, Del., to Cape Charles, Va 95 m. Crisficld Branch: King's Creek, Md., to Crisfield, Md 17 m.— 112 miles. Sidings, etc., 33.84 miles. Gauge, 4 ft. S}/2 in. Rail (steel, 144.40 m.), 60 and 85 Ibs. This company also operates 36 miles of ferry between Cape Charles, Old Point Com- fort, Portsmouth, and Norfolk. 2. History.— Chartered Sept. 27, 1881, as successor to the Peninsula RR. Co. of Virginia. Reorganized without foreclosure and without change of name on Jan. 24, 1899, under the terms of a plan outlined on page 422 in the MANUAL for 1899. 3. Rolling Stock, June 30, 1902.— Locomotives, 20. Cars — passenger, 10; bag- gage, mail and express, 7; freight (box, 592; flat, 2), 594; service, 12— total, 623. 4. Floating Equipment, June 30, 1902.— Steamboats, 3; tugboats, 4; car-floats, 6; transfer barges, 2 — total, 15. 5. Operations, year ending June 30, 1902.— Train mileage— passenger, 209,792; freight, 299.155; other, 88,045— total, 596,992 miles. Passengers carried, 252,260; car- ried one mile, 9.875,655; average mile rate, 2.57 cents. Tons freight moved, 1,239,993; moved one mile, 133,180,480; average ton-mile rate, 0.85 cent. KARVIH- 8. PMMBffr.. . 1900-01 1901-02 $232 848 24 $254 387 75 EXPENSES. Maint. of Way and Structures. . . Maintenance of Equipment Conducting Transportation .. General Expenses. 1900-01 1901-02 . $95.551 67 $197,899 52 . 170.39084 244.88154 . 506,006 46 606,824 49 41,872 54 42.990 78 FM(iH 91324844 1 126770 07 Mail and Express Miscellaneous. 63.76004 67.61039 40.11063 43,34011 T '•,!% Ami*, per MUe .$1,249.967 as $1.492.117 32 11,16042 13,32248 Totals. Averages per Mile . $813.82151 $1.092.59633 7.266 26 9.755 33 POOR'S MANUAL OF RAILROADS. 231 Net earnings 1901-02 (26.78 p. c.), $399,520.99; other receipts, $1,041.66 — total, $400,562.65. Payments: Interest on funded debt, $144,000; taxes, $29,157.10; dividends (4y2 p- c.), $77,146.88 — total, $250,303.98. Surplus, $150,258.67; surplus forward, $471,896.56— total, $622,155.23. Deductions during the year, $21,653.88. Surplus June 30, 1902, $600,501.35. 6. Capital stock, bonded debt, revenues, etc., for seven fiscal years ending June 30: Years. 1896 Capital Stock. $ . 1.714,375 Bonded Debt. S 2,848,000 Cost RR. A Invest- ments. $ 5,212,959 RR. Oper- ated. M. 112 Gross Earn- ings. 1 941,253 Expense and Taxes. 1 751,030 Net Earn- ings. 190,223 Net Rev- enue. f 190,223 Paid In- terest. S 181,391 Total Pay- Balance men te. (+ or — ). 181.391 +8833 1897.. 1898.. 1899.. 1900.. 1901.. 1902.. . 1,714,375 . 1,714,375 . 1,714,375 . 1,714,375 . 1,714,375 . 1,714,375 2,848,000 2,848,000 3,oOO,000 3,«»,000 3,000,000 3,600,000 5,261,618 5,575,551 5,659,229 5,754,913 5,645,027 5,642,928 112 112 112 112 112 112 905,372 926,311 1,106,152 1,199,842 1,249,967 1,492,117 742,236 759,397 815,364 758.089 841,646 1,121,753 163,136 166,914 290,788 441,753 408,321 370,364 "16£,136 166,914 290,788 442,713 411,441 371,406 179,165 155222 106,132 141,600 144,000 144,000 179.165 —16.029 155.222 +11.692 106,132 +184.656 263,398 +179,315 311,645 +99,796 221,147+150,259 7. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $5,398,15697 Real Estate and Other Investments. . . 120,940 14 Stocks and Bonds Owned 123,83141 Materials and Supplies 74,013 89 Cash and Current Assets 373,43909 Reserve Fund 325,81750 Other Assets 15,96892 Total Assets $6,432,16792 Capital Stock (see Sec. 8) $1,714,37500 Funded Debt (see Sec. 9) 3,600,000 00 Current Liabilities 130,016 56 Accrued Interest and Accrued Taxes. . 61,457 51 Reserve Fund 325,81750 Profit and Loss 600,50136 Total Liabilities $6,432,167 92 8. Capital Stock. — The authorized issue is $2,000,000 in $50 shares. The balance un- issued on June 30, 1902, was issued in March, 1903, to provide the necessary funds for additional equipment, etc., and for such other improvements as may be needed from time to time. Under a traffic agreement with the Pennsylvania RR. Co. it is provided that the company named or the Philadelphia, Wilmington and Baltimore RR. Co., or both of them, shall have the option to purchase the capital stock of this company at any time during the continuance of the traffic contract at a price to be determined by capitalizing, at the rate of 6 p. c. per annum, the average annual net earnings applicable to dividends for the three years prior to the exercise of the option, added to the pro rata value per share of any accumulated and undivided earnings, represented by cash or securi- ties at their market value, in excess of the sum of $100,000, which amount shall be held to be re- quired for working capital. To insure and secure this option, the capital stock is deposited in trust, and in lieu thereof there have been issued to the share owners negotiable trust certificates entitling the holders to vote at any meeting of the company and to receive any dividends declared upon the stock. 9. Funded Debt. — The funded debt on June 30, 1902, consisted of $2,600,000 1st gold 4s of Jan. 1, 1939, and $1,000,000 2d income gold 4s of Jan. 1, 1939. The authorized amount of 1st mtge. bonds is $3,000,000, of which $400,000 is reserved for betterments. 10. Directors (elected March 17, 1903) .—William A. Patton, A. J. Cassatt, J. Q. Cassatt, C. A. Griscom, Rudulph Ellis, R. K. Cassatt, Philadelphia, Pa.; John Lloyd, Altoona, Pa. WM. A. PATTON, President Philadelphia, Pa. R. K. Cassatt, Asst. to President " " Treasurer — J. G. Cassatt Philadelphia, Pa. | Secretary — O. J. De Rousse Philadelphia, Pa. Auditor — H. C. Carlile -...Philadelphia, Pa. PRINCIPAL OFFICE AND ADDRESS Cape Charles, Va. NORFOLK AND SOUTHERN RAILROAD COMPANY. 1. Main Line of Road.— Berkeley, Va., to Belhaven, N. C. 105.29m. Virginia Beach Division: Norfolk, Va., to Virginia Beach, Va. . . 18.86m. Currituck Branch: Kempsville, Va., to Munden Point, Va 22.14m. — 146.29 mile*. Sidings, 30.18 miles. Gauge, 4 ft. S^ in. Rail (steel), 50 to 70 Ibs. 2. History. — Organized in May, 1891, as successor to the Norfolk Southern and the Albemarle and Pantego RR. Cos. (See MANUAL for 1897, page 146.) On Nov. 1, 1899, the company purchased the Norfolk, Virginia Beach and Southern RR., extending from Norfolk to Virginia Beach and from Kempsville to Munden Point; a total length of 41 miles. In July, 1902, $30,000 of bonds were issued to provide means for building an extension from Virginia Beach to Cape Henry, a distance of 7 miles. 232 POOR'S MANUAL OF RAILROADS— SOUTH ATLANTIC GROUP. 1901-02 $lrix 533 V.I EXPENSES. Haint of Way 4 Structures 1900-01 . . $155,622 36 1901-02 $161.33868 464,19832 19 143 49 Maintenance of Equipment 70,16851 . . 244 549 85 82,792 65 248,17944 57 513 27 40 234 16 4234210 $700 :KS '.17 Totals . $510,574 88 $534,652 93 4.84920 Averaees ner Mile. . . . 3.47803 3.654 75 3. Rolling Stock/June 30, 1902.— Locomotives, "1ft. Cars — passenger, 23; bag- gage, mail and ,-xprfs,. 7; fn-ight (box, 221; flat, 164; stock, 6; refrigerator, 2; log, 50), 443; service, 60— total cars, 523. 4. Floating Equipment— Steamboat*, 10; transfer steamer, 1; tugs, 2; car floats, 4; floating pile driver, 1; barge, 1; and 9 covered lighters. 5. Operations, year ending June 30, 1902. — Train mileage — passenger, 160,986; freight, UU,d34 ; mixed, 62,278-r-tot-al> 322,898 miles. Passengers carried, 398,440; carried one mile, 8,037,677; average mile rate, 2.09 cents. Tons freight moved, 495,491; moved one mile, 24,538,359; average ton-mile rate. 1.89 cents. EARNING*. 1900-01 PMeuer. . $149,004 17 Ffckht 473.957 27 Mail and Kxpre* 18.22140 Miscellaneous 65.91875 Totals... .... $697,09959 Averages per Mik. 4,74863 Net earnings, 1901-02 (24.63 p. c.), $174,736.04; net earnings of steamboats, $10,- 267.96; other income, $3,049.52 — total, $188,053.52. Payments: Interest on funded debt, $07,500; on floating debt, $964.38; taxes, $23,943.91; dividends (4 p. c.), $80,000— total, $172,408.29. Surplus, $15,645.23; surplus forward, $292,000.40 — total, $307,645.63. 6. Capital account, income, etc., for seven fiscal years ending June 30: Capital Year.. Stock. $ 1896. 2,000.000 1897 2.000,000 1898. 2.000.000 18W. 2,000.000 1900 2,000.000 1901 2.000.000 1902. 2.000.000 7. General Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $2,000,- 000; funded debt, (1st gold 5s of May 1, 1941; $10.000 per mile auth.), $1,350,000; cur- rent liabilities, $123,095.45; accrued interest, $11,330; profit and loss, $307,645.63— total, $3,792,071.08. Contra: Cost of road and equipment, $3,599,091.19; securities owned, $8,700; materials, etc., $55,098.67; cash and current assets, $129,181.22— total, $3,792,- 071.08. After June 30, 1902, $30,000 additional bonds were issued to build the extension referred to in Sec. 2. 8. Securities Owned. — Capital stock of Norfolk and Portsmouth Belt Line RR. $6,200 capital stock of Southern Amusement Co., $2,500 — total, $8,700. 9- Directors (elected March 5, 1903).— John Carstensen, Alfred Skitt, E. V. W. RoBsiter, Henry Sampson, C. M. Depew, Charles F. Cox, George R. Turnbull, W. S. John- ston, New York, N. Y.; M. K. King, Norfolk, Va. JOHN CARSTENSEN, President New York, N. Y. Alfred Skitt, Vice-President Sec. A Treat. — Clarence Morgan. New York, N. Y. | Gen. Manager — Morris K. King Norfolk, Va. Auditor— George M. Glazier Norfolk, Va. PBINCIPAL OFFICE AND ADDRESS Norfolk, Va. New York Office Room 526, Grand Central Station. Bonded Cost RR. A Road Grow Net Net Interest Divi- Total Balance, Debt Equipment. Operated. Earn'gs. Earn'gs. Income. Paid. dends. Paym'ta. Surplus. $ $ M. $ $ $ $ $ $ $ 750,000 2,780,000 104.48 422,510 140,640 147,946 38,982 80.000 132,542 15,404 750,000 2,770.000 102.85 420.628 142,268 144,963 38,732 80,000 144,458 505 750,000 2,765.000 102.85 493,529 164,962 173.474 38,483 80.000 141,068 32,406 830,000 2,785.000 102.85 487,023 173,872 190,947 40,233 80,000 183,889 7,058 1.350,000 3,553,645 146.80 626,488 219,832 229.349 69.650 80.000 169,070 60,279 1,350,000 3,567,689 146.80 697.100 186,525 201,031 68,240 100.000 190,978 10,053 1,350.000 3,599.091 146.29 709.389 174,736 188,053 68,464 80,000 172,408 15,645 NORFOLK AND WESTERN RAILWAY COMPANY. INDEX TO THIS STATEMENT — REFERENCES xo NUMBERS OF SECTIONS. Capital Stock. Description of. 7 Directors and Officers 14 Earnings, Expenses, etc 5 K $119,822 77 Freight 263,521 17 Mail and Express... 45,73960 Miscellaneous 2,49900 Total ( $11.769.36 per mile) $431,582 54 Net earnings (22.75 p. c.), $98,198.17; other receipts, $1,078.57— total, $99,276.74. Payments: Interest on funded debt (for eight months), $23,333.33; taxes, $1,784.17; divi- dend (3 p. c.), $30,000— total, $55,117.50. Surplus, $44,159.24; surplus forward, $94,- 694.99— total, $138,854.23. 3. History.— Consolidation, March 26, 1890, of the Alexandria and Fredericksburg Ry. Co. and the Alexandria and Washington Ry. Co. (see MANUAL for 1890, page 344). The road was operated by the Philadelphia, Wilmington and Baltimore RR. Co., for ten years from Nov. 1, 1891, after which it was taken over by its own organization, to be operated as part of a union line between Washington and Richmond. outstanding on June 30, 1902, consisted of $1,000,000 POOR'S MANUAL OF RAILROADS. 241 5. General Balance Sheet, June 30, 1902. Cost of Road and Property $2,095,81565 New Construction — -Second Track 1,96555 Richmond, Fredericksburg & Potomac RR. Co. Current Account 46,90636 Total Assets $2,144,68756 Capital Stock ($50 shares) $1,000,00000 Funded Debt (see Sec. 4) 1,000,00000 Interest Accrued, not yet Payable 5,83333 Prottt and Loss 138,85423 Total Liabilities $2,144,68756 6. Directors (elected Nov. 17, 1902). — George W. Stevens, W. J. Leake, John Skelton Williams, Richmond, Va. ; S. M. Prevost, Philadelphia, Pa.; Samuel Spencer, New York, N. Y. ; J. Taylor Ellyson, Richmond, Va. E. T. D. MYERS, President Richmond, Va. Sec. y2 in. Rail (steel, 2,692.88 m.), 56 to 85 Ibs. 2. History. — Organized on April 10, 1900, as successor to the Richmond, Peters- burg and Carolina RR. Co., which owned the line from Richmond, Va., to Norlina, N. C. 102.10 miles. On July 1, 1900, the company assumed the operation of the several rail- roads embraced in the so-called Seaboard Air Line system (see MANUAL for 1901, page 770 et scq.), together with the Georgia and Alabama Ry., the Florida Central and Peninsular RR. and the Atlantic, Suwanee River and Gulf RR. As shown in the MANUAL for 1902, 242 POORS MANUAL OP RAILROADS — SOUTH ATLANTIC GROUP. on page 763, eleven of the subsidiary roads were absorbed in Nov., 1901, and two more of them on Feb. 8, 1902. This left, of the railroads taken over by the company on July 1, 1900, only four — the Seaboard and Roanoke RR., the Roanoke and Tar River RR., the Florida Central and Peninsular RR. and the Atlantic Suwanee River and Gulf RR. — not actually merged with the Seaboard Air Line Ry. on June 30, 1902, and of these the Florida Central and Peninsular RR. was absorbed on June 30, 1903. The Georgia and Alabama Terminal Co. is practically merged with the Seaboard Air Line Ry., although it still maintains a nominal corporate existence. A description of its property will be found in the remarks on the Georgia and Alabama Terminal bonds in Sec- tion 9. The Seaboard and Roanoke RR. Co. is controlled through ownership of more tkan 99 per cent, of its capital stock; the Roanoke and Tar River RR. and the Atlantic, Suwanee River and Gulf RR. Co., through ownership of their entire capital stocks. The Lyons Branch of the Central of Georgia Ry. is leased in perpetuity at a rental of $43,500 a year. Birmingham Extension. — In May, 1902, the company acquired the control of the East and West RR., extending from Pell City, Ala., to Cartersville, Ga., a distance ot 116.7 miles, its object being to secure a line of Its own between Atlanta, Ga., and Birming- ham, Ala. Extensive terminals have been secured in Birmingham, Ala., and arrange- ments have been made for the construction of a line therefrom to a point near Coal City, Ala., on the East and West RR., a distance of 39 miles, and of a line from Rockmart, Ga., on the East and West RR., to Howell Junction, Ga., on the Seaboard Air Line Ry., a distance of about 43 miles. About 90 miles of the East and West RR., between Rockmart, Ga., and Coal City, Ala., will be thoroughly revised and improved and will be used as u part of the Atlanta- Birmingham Line. It is expected that the entire road will be com- pleted and in operation at about the end of the present year, 1903. Other Interests. — The Seaboard Air Line Ry., in conjunction with one of its pro- prietary companies, owns the entire capital stock of the Baltimore Steam Packet Co., which operates the principal fleet of steamers on Chesapeake Bay between Baltimore and Old Point Comfort, Norfolk and Portsmouth. The Seaboard Air Line Ry. owns a one-sixth interest in the Richmond- Washington Co. (see GENERAL INDEX), a one-half interest in the Union Passenger Station at Richmond, Va., and in the Wilmington Ry. Bridge (see Sec- tion 11), and a one-third interest in the Union Passenger Station at Savannah, Ga. All of these properties are operated under separate management. 3. Boiling Stock, June 30, 1902.— Locomotives (2 leased), 307. Cars— passen- ger, 131; parlor, 2; cafe, 3; combination, 32; baggage, mail and express, 80; freight (box, 4,406; furniture, 27; flat, 3,726; stock, 65; gondola, 67; refrigerator express, 20; log, 52; coal, 18), 8,381; service, 387 — total, 9,016. 4. Marine Equipment, June 30, 1902.— Tug, 1; barges, 9; launches, 4; pile-driv- er, 1— total, 15. 5. General Income Account, year ending Jwne 30, 1902. EarmlBffi— Passenger $2,063,591 74 Freight 7,906,126 13 Mail and Express 519,58419 Miscellaneous 580,17623 ToUl ($4,261.20 per mile) $11,068,47829 ExpeBMR— Malnt. of Way and Struc. . .$1,282,32894 Maintenance of Equipment. 1,089,68619 Conducting Transportation . 4,515,113 47 General Expenses 442,671 12 Total ($2,815.24 per mile) $7,329,79972 Net earnings (33.78 p. c.), $3,738,678.57; other receipts, $59,852.70— total, $3,798,- 631.27. Payments: Interest on funded debt, $2,481,400; interest on equipment trust obli- gations, $110,900.77; taxes, $381,402.95; rental of leased line, $43,500; dividend on stock if proprietary companies, $6,570.67 ; other charges, $8,925— total, $3,032,699.39. Surplus, r 65,83 1.88; surplus forward ($252,676.47; less sundry accounts charged off, $121,452.54), $131,223.93— total surplus June 30, 1902, $897,055.81. The company reports that the gross earnings of the system for the year ending POOR'S MANUAL SEABOARD AIR-LINE RY. 243 June 30, 1903, with month of June approximated, were $12,662,639, an increase over the previous year of $1,082,824. As compared with the gross earnings in the preceding statement, which agrees with the annual report, the increase amounts to $1,594,161. 6. Details of interest paid on funded debt, year ending June 30, 1902 : Seaboard Air-Line Ry., $12,775,000 1st 4s $511,000 00 Seaboard Air-Line Ry., 2-yr. collateral trust 5s — $2,000,000 for 6 months, $1,323,000 for 6 months 83,075 00 Seaboard Air-Line Ry. collateral trust 5s — $8,000,000 for 6 months, $8,677,000 for 6 months 416,925 00 Seaboard & Roanoke RR., $2,500,000 1st 5s 125,000 00 Seaboard & Roanoke RR., $285,000 registered 6s 17,100 00 Roanoke & Tar River RR., $55,000 1st 6s 3,300 00 Durham & Northern RR., $100,000 1st 6s 6,000 00 Raleigh & Augusta Air-Line RR., $1,000,000 1st 6s 60,000 00 Carolina Central RR., $3,000,000 1st consol. 4s 120,000 00 Georgia, Carolina & Northern RR., $5,360,000 1st 5s 268,000 00 Georgia & Alabama Ry., $5,405,000 1st 5s 270,250 00 Georgia & Alabama Terminal Co., $1,000,000 1st 5s 50,000 00 Florida Central & Peninsular RR., $3,000,000 1st 5s 150,000 00 Florida Central & Peninsular RR., $410,000 land grant extension 1st 5s 20,500 00 Florida Central & Peninsular RR., $4,372,000 1st consol. 5s 218,600 00 South Bound RR., Southern Div., $2,033,000 1st 5s 101,650 00 Raleigh & Gaston RR., $1,200,000 1st 5s 60,000 00 Total amount of interest on bonds $2,481,400 00 7. General Balance Sheet, June 30, 1902. Cost of Property $103,540,506 19 Securities Owned by S. A.-L. Ry. . . . 625,432 55 Securities Owned by Proprietary Cos. 2,333,362 89 Capital Stock in Treasury 14,100,00000 Leasehold, Wilm. Ry. Bdg. (Contra) 108,50000 Total Invested Assets $120,707,80163 Cash on Hand and in Transit 997,48761 Current Dues -. 799,11920 Notes Receivable, incl. Interest 83,92665 Unearned Ins. Premiums 21,33803 Unearned Interest on Equip. Notes.. 34,32044 Materials and Supplies 599,92063 Freight Claims in Suspense 113,879 77 Sundry Accounts 312,19280 Due from Proprietary Companies... 54,00465 Total Assets $123,723,99141 Preferred Capital Stock $25,000,00000 Common Capital Stock 37,500,00000 Funded Debt Outstanding 52,495,00000 Equipment Trust Notes (see Sec. 10) 2,519,813 38 W. Ry. Bridge Bonds (see Sec. 11).. 108,500 00 Total Capital Liabilities $117,623,313 38 Current Liabilities 1,555.48944 Accrued Liabilities 280,359 44 Matured Interest and Dividends 688,44100 Freight Certificates 34,00000 Reserve Funds 196,88498 Sundry Accounts 120,64125 Due to Proprietary Companies 1,959,717 90 Reserve for Acquiring Outstanding Stock of Proprietary Companies. . . 368,088 21 Profit and Loss 897,05581 Total Liabilities $123,723,991 41 8. Capital Stock. — The authorized capital stock Is at present $75,000,000 In $100 shares, $25,000,000 thereof being preferred stock and $50,000,000 being common stock. On June 30, 1903, there were outstanding $19,400,000 of the preferred stock and $29,000,000 of the common stock, the remaining $5,600,000 of preferred stock and the remaining $21,000,000 of common stock — a total of $26,600,000 of both classes — being held in the treasury of the company. The pre- ferred stock has priority over the common stock for dividends at the rate of 4 p. c. per annum, non- cumulative, and is entitled to 2 p. c. additional (making 6 p. c. in all) after the common stock re- ceives 4 p. c. ; thereafter all surplus of net earnings goes to common stock. All the preferred stock and all except 50 shares of the common stock are deposited in a voting trust until April 1. 1910, although the voting trustees may in their discretion deliver the shares before then. The vot- ing trustees are : J. Wm. Middendorf, James H. Dooley, C. Sidney Shepard, Robert C. Davidson, Wm. A. Marburg, S. Davies Warfleld, and John Skelton Williams. The capital stock may be increased under certain conditions from $75,000,000 to $100,000,000, the increase being either preferred or common stock as the company may elect ; but no pre- ferred stock can be issued in addition to the $25,000,000 now authorized, without the consent of a majority of all the present holders of preferred stock, given at a meeting to be called for the purpose. 0. Kun fled Debt. — The funded debt outstanding on June 30, 1902 — total, $52,495,000 as per general balance sheet — consisted of the several issues of bonds listed in the following statement. Additional particulars respecting any issue will be found in the paragraph relating thereto sub- joined to the statement : Seaboard Air-Line Ry. ($22,775,000). $12,775,000 1st gold 4s of April 1, 1950. 1,323,000 collateral trust gold 5s of Oct. 1, 1902. 8,677,000 refund, coll. trust gold 5s of May 1, 1911. * Divisional Bonds ($29,720,000). $2,500,000 S. & R. RR. 1st 5s of July 1, 1926. 285,000 S. & R. RR. reg. 6s of Aug. 1, 1916. 55,000 R. & T. R. RR. 1st 6s of April 1, 1917. 1,200.000 R. & G. RR. 1st gold 5s of Jan. 1, 1947. 100,000 D. & N. RR. 1st 6s of Nov. 1, 1928. •Exclusive of bonds held in treasury of $1,000,000 R. & A. A. L. RR. 1st 6s of Jan. 1, 1926. 3,000,000 C. C. RR. 1st gold 4s of Jan. 1, 1949. 5,360,000 G., C. & N. RR. 1st 5s of July 1, 1929. 5,405,000 G. & A. Ry. 1st con. Bs of Oct. 1, 1945. 1,000,000 G. & A. T. Co. 1st 5s of D«c. 1, 1949. 3,000,000 F. C. & P. RR. 1st gold 5s of July 1, 1918. 410,000 F. C. & P. RR. land gr. ext. Bs of Jan. 1, 1930. 4,372,000 F. C. & P. RR. 1st con. 5s of Jan. 1, 1943. 2,033,000 S. B. RR. 1st Bs of April 1, 1941. S. A.-L. Ry. or proprietary companies. First Mortgage Gold Bonds. — Secured by first mortgage on the line from Richmond, Va., to Norlina, N. C., 102.10 miles, on the line from Hamlet, N. C., to Columbia, S. C., 105.9 miles, and on 244 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. branches aggregating 39.63 miles in length (Loulsburg, Pittsboro, Lawrenceville, etc.). Secured on the rest of the company's property by a mortgage which is subject in lien to the mortgages secur- ing the various underlying divisional bonds, and also secured by deposit with the trustee under the mortgage of the following securities having an aggregate par value of $26,423,200 : Florida Central & Peninsular RR., out of $4,347,800 preferred stock $4,318,300 Florida Central & Peninsular RR., out of $19,900,100 common stock 19,652,400 Roanoke & Tar River RR., entire capital stock 51,500 Roanoke & Tar River RR., out of $260,000 1st mtge. bonds 205,000 Seaboard & Roanoke RR., out of $1,388,400 capital stock 1,296,000 Seaboard & Roanoke RR., out of $690,000 registered debentures 405,000 Durham & Northern RR., out of $150,000 1st mtge. bonds 50,000 Richmond-Washington Co., one-sixth of the capital stock 445,000 The total amount of 1st mtge. bonds authorized is $75,000,000, of which $12,500,000 can be Issued only after July 1, 1903, at the rate of $1,500,000 a year for the first four years, and at the rate of $1,000,000 a year thereafter, for the acquisition of new railroads and for construction, bet- terments, equipment, etc. Of the remaining $62,500,000 of bonds, $29,725,000 are reserved for the retirement of the outstanding divisional bonds ; $20,000,000 are deposited as collateral security for the two issues of collateral trust bonds, and $12,775,000 are outstanding in the hands of the public. Collateral Trust Gold Bonds. — The $1,323,000 collateral trust gold bonds matured Oct 1. 1902, and were duly paid off, a like amount of collateral trust refunding gold bonds being issued in their stead. The $4,000,000 1st mtge. 4 p. c. gold bondo of April 1, 1950, that were deposited as collateral to the collateral trust gold bonds are now held as security for the collateral trust refunding gold bonds. Collateral Trust Refunding Gold Bonds. — Amount authorized, $10,000,000 ; outstanding at the close of the fiscal year ending June 30, 1902, $8,677,000; issued upon the redemption of the collateral trust gold bonds that matured Oct. 1, 1902, $1,323,000 ; total now outstanding, $10,000,000. The bonds are redeemable at 105 and accrued interest on any interest day, after three months' notice. They are secured by deposit of $20,000,000 of the 1st mtge. gold bonds of April 1, 1950. Seaboard and Roanoke RR. Bonds. — The 1st mtge. bonds are secured on the property of the Seaboard and Roanoke RR. (see statement therefor in Sec. 13). The registered bonds are de- bentures. They are payable after Aug. 1, 1916, either as a whole or in 10 p. c. installments. The total issue of the debentures is $690,000, of which the Seaboard Air-Line Ry. owns $405,000. Roanoke and Tar River RR. Bonds. — Secured on the line from Lewiston, N. C., to the Virginia State Line, 32.3 miles. Raleigh and Gaston RR. Bonds. — Secured by 1st mortgage on the line from Raleigh to Weldon, N C., and branch to Roanoke Rapids, a total of 98.74 miles. Durham and Northern -RR. Bonds; — Secured by first mortgage on the line from Henderson to Durham, N. C., 41.4 miles. The total issue is $150,000, but $50,000 of the bonds are owned by the S. A.-L. Ry. Raleigh and Augusta Air-Line RR. Bonds. — Secured by first mortgage on the line from Raleigh to Gibson, N. C., 106.73 miles. Carolina Central RR. Bonds. — Secured by first mortgage on the line from Wilmington to Rutherfordton, N. C. (less Wilmington Ry. Bridge, 2.4 m.), 264.63 miles, and branches to Henrietta and Caroleen, 6.4 miles. The bonds are guaranteed, both principal and interest, by the Seaboard and Roanoke RR. Co. and the Raleigh and Gaston RR. Co., jointly and severally, the guaranty being endorsed on each bond. Georgia, Carolina and Northern RR. Bonds. — Secured by first mortgage' on the line from Mon- roe, N. C., to Atlanta, Ga., 266.10 miles. The bonds are guaranteed, both principal and interest, by the Seaboard and Roanoke RR. Co. and the Raleigh and Gaston RR. Co., jointly and severally, the guaranty being endorsed on each bond. Georgia and Alabama Ry. Bonds. — Secured by first mortgage on the lines from Montgomery, Ala., to Lyons, Ga., from Savannah to Meldrim, Ga., from Columbus to Albany, Ga., from Abbeville to Ocilla, Ga., and branch to Savannah River, a total of 400.86 miles ; on terminals at Montgomery, Americus, etc., and on the lease of 57.65 miles of the Central of Georgia Ry. Georgia and Alabama Terminal Bonds. — Secured on extensive terminal property on the Sa- vannah River, directly opposite the city of Savannah, with which it is connected by the steel bridge of the Seaboard Air-Line Ry. The property embraces about 1,200 acres of land, including more than three miles of water front, with wharves, piers, warehouses, 8.3 miles of railroad tracks, etc. The entire capital stock of the Georgia and Alabama Terminal Co. is owned by the Seaboard Air- Line Ry. Florida Central and Peninsular RR. Bonds. — The 1st mtge. bonds of 1918 are secured on the lines from Fernandlna to Cedar Keys, from Harts Road to Jacksonville, from Jacksonville to Chat- tahoochee River, from Drifton to Monticello, from Tallahassee to St. Marks, from Waldo to Plant City, from Wlldwood to Tavares, and from Panasoffkee Lake to Sumterville — a total of 573.5 miles. The 1st mtge. land grant extension bonds are secured by first mortgage on lands referred to here- after and on the lines from Plant City to Tampa, from Tavares to Orlando, from Archer to the Eagle Early Bird and other phosphate mines, and from Turkey Creek Station to the Alafla River — a total of 91.77 miles ; also secured by second mortgage on the lines covered by the 1st mtge. bonds of 1918. The F. C. & P. RR. Co. acquired by building the extension to Tampa, a grant of 67,000 acres of land valued at $121,000, and is entitled to receive from the State of Florida 122 880 acres for constructing the extension from Tavares to Orlando. As yet only 5,000 acres of the latter grant have been received. The lands are covered by the extension mortgage, and the proceeds of their sale are to be applied to the purchase of land grant extension bonds at the market price thereof, such purchased bonds to be cancelled. The 1st consol. mtge. bonds are secured by first mortgage on the line from Harts Road, Fla., to Savannah, Ga., 113.32 miles, and by general mortgage on the rest of the F. C. & P. RR. South Bound RR. Bonds. — Secured by first mortgage on the line from Columbia, S. C to Savannah, Ga., 138.53 miles. Authorized issue, $2,100,000 ; originally 6 p. c. bonds but rate of interest was reduced. 10. Equipment Obligations — During the year ending June 30, 1902, there was paid off car trust and equipment obligations of the Seaboard Air-Line Ry. and its constituent companies amounting to $708,330.76. This represented $597,429.99 principal and $110,900 77 interest! POOR'S MANUAL SEABOARD AIR-LINE RY. 245 There were issued during the year $700,000 of 4J p. c. car trust notes, dated Feb. 1, 1902, principal payable in quarterly installments during the next ten years. The amount of car trust and equip- ment obligations outstanding on June 30, 1902, amounted to $2,519,813.38. The car trust obliga- tions issued during the fiscal year were secured upon 20 locomotives, 10 passenger cars, and 500 box and 300 flat cars, of which 20 locomotives and 300 flat cars were delivered up to June .30, 1902. 11. \v i I in i ii^ Ion Ry. Brld«-e Bonds. — The Seaboard Air-Line Ry. and the Atlantic Coast Line RR. Co., jointly own and operate the bridge from Hilton to Navassa, N. C., 2.4 miles, and guarantee the bonds of the bridge company, each one-half (see statement for Wilmington Ry. Bridge in Sec. 13). 12. Statement of operations, property and general balances for two fiscal years end- ing June 30: 1901 1902 1901 1902 2,592.36 2 603.61 $ $ Net Traffic Earnings 3 024 859 3 738 678 3,411,823 3,381,872 Other Receipts 20,503 59853 3 706 975 3 940 624 362,800 419,299 Net Income. . . 3 045 362 3 798 531 Total Deductions T * 1 D TV ' M'l 7 481 598 7 741 795 Net Profit 252 676 765,832 Passengers Carried 1,630,194 1,833,274 78,973,928 87,554,985 Miles Road Owned 254296 254296 3,998,081 4,516,072 Miles Track Owned. . . 2,868 21 2,884 19 Freight (ton) Miles 613,002,890 740,169,229 Miles Steel Rail. . . . 267690 2 692 88 2.48c. 2.36 c. Locomotives 294 307 1.19c. 1.07 c. Cars 8814 9016 $ 1,978,780 $ 2,063,592 Capital Stock $ 62500,000 $ 62500,000 Freight . ... 7,282,432 7,905,126 Funded Debt 52,495,000 52,495,000 Other 1,165,068 1,099,760 Equipment Trust 2,458,913 2,519,813 cj 944 Q'^9 5 312 122 10 426,280 11,068,478 Profit and Loss. . . 252 676 897056 7 401 421 7329800 up at g pe Total Liabilities 1'7 650 621 123 723 991 3,024,859 3,738,678 Cost of Property 101,694,149 103 540 506 4,021 92 4,251 20 Securities Owned 2 622 773 2 958 795 2,85509 2,815 24 Capital Stock in Treasury 14,100,000 14,100,000 1,16683 1,435 96 Materials, etc 616 695 599921 70.86 p. c. 66.22 p. c. Cash and Other Assets 8 617 004 2 524 769 Total Assets 127,650 621 123 723 991 13. RAILROADS, ETC., CONTROLLED AND OPERATED BY THE SEABOARD AIR-LINE RY. ATLANTIC, SUWANNEE RIVER AND GULF RR Starke to Suwannee River, Fla., in- cluding spurs, 58.15 miles. HISTORY. — Chartered May 24, 1893 ; road opened from Starke to Osceola, 38.9 miles, Oct. 1, 1895 ; extension of 11.25 miles opened July 1, 1901 ; entire line opened Jan. 1, 1902. Under its charter the company is entitled to a land grant of 10,000 acres per mile, of which 200,000 acres have been received. The road has been operated by the Sea- board Air-Line Ry. since July 1, 1900. FINANCIAL STATEMENT. — Capital stock ($600,000 auth. ; $25 sharer,), $380,000; funded debt (l.st gold 5s of Jan. 15, 1945), $303,000 — total, $683,- 000. The Seaboard Air-Line Ry. owns all the stock and all the bonds. CORPORATE OFFICERS. — John Skelton Wil- liams, Pres., Richmond, Va. ; D. C. Porteous, Sec., New York, N. Y. ; J. H. Sharp, Treas., Portsmouth, Va. Office, Portsmouth, Va. FLORIDA CENTRAL AND PENINSULAR RR. — Savannah, Ga., to Tampa, Fla., 343.10 m. ; Fernandina to Jacksonville, Fla., and spurs, 38.45 in. ; Jacksonville to River Junction, Fla., 209.06 m. ; Waldo to Cedar Key, Fia., 70.8 m. ; Archer to Early Bird, Fla., and spurs, 32.18 m. ; Wildwood to Lake Charm, Fla., and spur, 70.75 m. ; Talla- hassee to St. Marks, Fla., 20.35 m. ; Drifton to Monticello, Fla., 4.38 m. ; Summerfield to Lake Weir, Flu., 7.59 m. ; Turkey Creek to Durant, Fla., 5.1 m. ; Junction to Sumterville, Fla., 2.13 m. ; Junction to Silver Springs, Fla., 1.9 m. — to- tal. 805.79 miles. Deduct length of Turkey Creek Branch, 5.1 miles, leased to U. S. & W. I. RR.&SS. Co., leaving length operated by Seaboard Air-Line Ry., 800.69 miles. The Florida Central and Pen- insular RR. Co. was organized early in 1889, as successor to the Florida Ry. and Nav. Co. (see Manual for 1897, page 139). Merged into the Sea- board Air Line Ry. on June 30, 1903. ROANOKE AND TAR RIVER RR State Line to Lewiston. N. C., 32.3 m. ; total track (steel, 32.3 m.), 34.83 miles. Rail, 50 Ibs. HISTORY.— Chartered March 5, 1885; opened Oct. 1, 1887. Leased. April 21, 1886, to the Seaboard and Roanoke RR. Co., for the term of its corpor- ate existence, at an annual rental of $500 per mile. FINANCIAL STATEMENT. — Capital stock ($100 shares), $51,500; funded debt (1st 6s of April 1, 1917), $260,000 — total, $311,500. The Seaboard Air-Line Ry. owns all the capital stock and $205,- 000 of the bonds, and has assumed the remaining $55,000 of bonds. CORPORATE OFFICERS. — John Skelton Wil- liams, Pres., Richmond, Va. ; J. H. Sharp, Sec. & Treas., Portsmouth, Va. Office, Portsmouth, Va. SEABOARD AND ROANOKE RR Ports- mouth, Va., to Weldon, N. C., 78.6 m. ; Boykins, Va., to State Line, N. C., 2.7 m.— total, 81.3 miles. Rail (steel), 60 Ibs. HISTORY. — Consolidation, Feb. 22, 1849, of the Seaboard and Roanoke RR. of Virginia and the Roanoke RR. Co. of North Carolina. The road was opened early in 1835, and rebuilt in 1S51 (see Manual for 1888, page 646). Operated by the Seaboard Air-Line Ry., statement for which see. FINANCIAL STATEMENT. — The latest pub- lished general balance sheet of the company is 246 POOR S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. given in the Manual for 1901, on page 774. Capi- tal stock (cquiuion, 11,144,200; guaranteed, $200,- 000; 2d preferred. $44,200), $1,388,400 in $100 shares. The preferred stock is entitled to dividends at the rate of 7 p. c. per annum, guaranteed. Funded debt ($2.500.000 1st 5s of July 1. 1926. and $690.000 ' debenture 6s of Aug. 1, 1916), $3,190,000. The Seaboard Air-Line Ry. owns $1.386.200 of the cap- ital stock and $406,000 of the debenture bonds. The outstanding 1st mtge. bonds and debentures are assumed by the Seaboard Air-Line Ry. CORPORATE OFFICERS. — John Skelton Wil- liams, Pres., Richmond, Va. ; J. M. Barr, Vice- Pres. ; W. W. Chamberlaine, Sec.; John H. Sharp, Treas., Portsmouth, Va. Office. Ports- mouth, Va. WILMINGTON RY. BRIDGE Hilton to Mi-arc's Bluff, N. C., 2.40 miles. Owned and op- erated by the Seaboard Air-Line Ry. and the At- lantic Coast Line RR. Co. and those companies jointly guarantee the bonds. FINANCIAL STATEMENT.— Capital stock, $40.000; funded debt (consol. bs of 1943), $217,000 —total, $257,000. CORPORATE OFFICERS. — Junius Davis, Pres., Wilmington, N. C. ; J. H. Sharp. Sec. & Treas., Portsmouth, Va. 14. Bodrd of Directors, Seaboard Air-Line Ky., as constituted July 1, 1903.' J. Skelton Williams Richmond. Va. I W. A. Marburg. Baltimore, Md. I Oeo. W. Watts. . Durham, N. C. J. W.Middendorf.Baltimore.Md. S. Davies Warfleld " | F.R.Pemberton. New York.N.Y. .lames H. Dooley. Richmond, Vn. Robt. C. Davidson " Ernst Thalmann C. Sidney Shepard. . .New Haven. N. Y. | James M. Barr. Portsmouth, Va. | W. W. Mackall. .Savannah, Gs. E. B. Addison Richmond, Va. JOHN SKELTON WILLIAMS, President Richmond, Va. James M. Barr, 1st Vice-Pres. and Gen. Mgr Portsmouth, Va. J. Win. Middendorf, 3d Vice-President Baltimore, Md. Asat. to Pres. — T. M. R. Talcott. .Richmond, Va. Secretary. — D. C. Porteous New York, N. Y. Treasurer. — John H. Sharp Portsmouth, Va. Comptroller. — T. W. Roby Portsmouth, Va. PRINCIPAL OFFICE AND ADDRESS Portsmouth, Va. President's Office 922 East Main St., Richmond, Va. New York Office 15 Wall St., Manhattan. SOUTHERN RAILWAY COMPANY. (For map of this system, see between pages 248 and 249.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 11 Certificates of Indebtedness. . 20 Controlled Companies 5 Controlled Jointly with Others 8 Directors and Officers 24 Earnings and Expenses 7 Earnings, etc., 1896-1902 9 Equipment 6 Equipment Obligations. . .17, 17a Extension to Jacksonville 3 Funded Debt Details 13 General Balance Sheet 10 Gen. Bal. Sheet, 1896-1902 9 History S Income Account 7 Income Account, 1896-1902.... 9 Joint "Monon" Bonds 14 Leased Line Statements.... 22 Leasehold Securities 16 Lines of Road Operated 2 Mileage Operated 1 "Monon" Collateral Bonds. 14 Operations, 1896-1902 9 Purchase of "Monon" 3 Rolling Stock 6 Securities Held for Control.. 19 Securities Owned 19, 20 Secur. Pledged under Mtge... 18 Sinking Funds IB Southern Ry., Carolina Div. . 3 Trackage Rights 4 Track Mileage 2 Voting Trust 12 1. Mileage Operated, June 30 1902.— A. LINES OWNED (4,365.14 miles). Main Lines: In Virginia, North Carolina, South Carolina, Georgia, Tennes- see, Alabama, Mississippi, Kentucky, Indiana and Illinois (see de- tailed mileage statement) 3,008.74 miles. Branches and Spurs: In District of Columbia, Virginia, North Carolina, South Carolina, Georgia, Tennessee, Alabama, Kentucky, Indiana and Illinois (see detailed mileage statement) 1,356.40 " B. PROPRIETARY RAILROADS (see detailed mileage statement, See. 2) 1,267.92 " O. LEASED RAILROADS (see detailed statement of mileage Sec. 2) 818.38 D. OPERATED: Roswell RR. (see detailed statement of mileage, Sec. 2) 9.80 " E. TRACKAGE RIGHTS (see detailed statement) 304.67 " Total length of lines operated by Southern Ry. Co., June 30, 1902 6,765.91 miles. Gauges, 4 ft. 9 in. and (83.36 miles) 3 ft. Rail — iron, 45 to 56 Ibs. ; steel, 56 to 80 Ibs. la. Increase in Mileage Operated.— The average number of miles operated for the year was 6,743.61, as compared with an average of 6,612.11 miles in 1901. The mileage operated at the close of the fiscal year was 6,765.91 miles, as against 6,728.85 at the close of the previous fiscal year, an increase of 37.06 miles, as follows: Additions — Ensley Southern Railway, from Ensley, Ala., to a point near Warrior River, 19.22 miles, and from Parrish, Ala., to a point near Little Warrior River, 9.24 miles; extension from Maryville to Walland, Tenn., 10.21 miles; extension from Colenor, Ala., to coal mines, 1.02 miles; Morristown, Tenn., cut-off, 2.97 miles; additional trackage over Jacksonville POOR S MANUAL — SOUTHERN RY. CO. 247 and St. Louis RR. at Centralia, 111., 0.44 mile; trackage over Savaanab Union Station tracks, Savannah, Ga., 5.52 miles — total additions, 48.62 miles. Deduct mileage of Ander- son Branch, no longer operated by Southern Ry. Co., 9.98 miles; sundry remeasurements and corrections, 1.58 miles— total, 11.56 miles. Net increase in mileage, 37.06 miles. 2. Lines of Road Operated. — Statement showing in detail the mileage of lines operated by the Southern Ry. Co., June 30, 1902, exclusive of trackage rights: MAIN LINES AND BRANCHES. Miles. Alexandria, Va.( to Greensboro. N. C.*.... 280.05 Neapolis to West Point, Va 179.00 Charlotte, N. C., to Augusta, Ga 191.00 Columbia to Greenville, S. C 143.50 Salisbury, N. C., to Morristown, Tenn 231.37 Bristol to Chattanooga, Tenn 241.55 Stevenson, Ala., to Memphis, Tenn 271.80 Tuscumbia to Florence, Ala 7.60 Moscow to Somerville, Tenn 13.10 Ooltewah June., Tenn., to Brunswick, Ga. . 415.00 Austell, Ga., to State Line, Mississippi... 260.70 Southern Ry. in Miss. : State Line, Ala., to Greenville, Miss 179.10 Stoneville to Percy, Miss. (n. g.) 23.20 Itta Bena to Webbs, Miss 34.60 M. & O. Sta. to Columbus, Miss 1.32 Pass. Sta. to Columbus, Miss 0.65 Atlanta Junction, Ga., to York, Ala 270.50 Term, to Freight House, Washington, D.C. 0.22 Alexandria to Bluemont, Va 54.15 Union Street Branch, Alexandria, Va — 1.60 Manassas Junction to Harrisonburg, Va. 112.89 Calverton to Warren ton, Va 8.90 Franklin Junction to Pittsville, Va 7.10 Manchester Junction to Rocketts, Va 1.00 Belle Isle Junction to Belle Isle, Va 0.70 Granite, Va., to Westham Granite Quarry 3.00 Clarksville, Va., to Durham, N. C 55.10 Oxford to Henderson, N. C 12.75 Pomona to Wilkesboro, N. C 100.15 Asheville (Murphy Jc.) to Murphy, N. C. 122.40 Charlotte to Taylorsville, N. C 65.65 Hodges to Abbeville, S. C 11.50 Belton to Anderson, S. C 9.98 Aiken to Edgefield, S. C 23.58 Embreeville June, to Embreeyille, Tenn. 13.00 Rogersville June, to Rogersville, Tenn. 16.00 Clinton to Harriman Junction, Tenn.... 30.60 K. & O. Jc., Knoxv. to Cumb. Gap, Tenn.. 63.56 Knoxville Belt 5.37 Knoxville to Welland, Tenn 26.21 Briceville "Y" to Panola, Tenn 4.94 Oliver Springs to Big Mountain, Tenn.... 3.26 Cleveland, Tenn., to Cohutta, Ga 14.80 North Rome, Ga., to Attalla, Ala 61.30 Atlanta to Fort Valley, Ga 102.30 Howell to Belt Junction, Ga 3.30 Cochran to Hawkinsville, Ga 10.10 Dock Jc. to Turtle River Docks, Bruns- wick, Ga 1.80 Marion Junction to Akron, Ala 53.00 Wilton to Mobile, June., Ala 34.00 Gurnee Junction to Blocton, Ala 14.30 Woodlawn to End Belt Rd., Bessemer, Ala. 20.50 North Birmingham to Coalburg, Ala 6.40 Coalburg to Mines 9 and D, Ala 2.60 Cardiff to Brazil Mines, Ala 1.60 Jefferson to Blossburg, Ala 1.91 Offerman to Hooper Mines, Ala 0.60 America Junction to America, Ala 2.20 Oaknian to Coal Valley, Ala.. 2.20 Patton Junction to Patton, Ala 1.10 Corona to No. 3 Mines, Ala 0.90 Castleman Junction to Castleman, Ala... 3.63 Lula to Athens, Ga 38.93 Cave Springs to Lopez, Oa 5.23 Ardella to Belle Ellen, Ala 2.90 Seymour to Coal Mines, Ala 2.24 Pinner's Point, Va., to connection with N. & C. RR 0.66 Louisv. to Lexington, Ky.(So. Ry. in Ky.) 80.12 MAIN LINES AND BRANCHES — Continued. Miles. Brought Forward 3,966.27 Lawrenceb. to Burgin, Ky. (So. Ry. in Ky.) 25.97 Versailles to Georget., Ky. " " " 16.74 Venice and Carond. Belt, E. St. Louis, 111. 6.86 Belleville Junction to Belleville, 111 1.14 East St. Louis, 111., to State Line, Ind.... 146.77 Southern Ry. in Ind. : State Line, 111., to New Albany, Ind 118.28 Jasper to Evansville, Ind 54.22 Rockport June, to Rockport, Ind 16.15 Lincoln City to Cannelton, Ind 22.72 Total Main Lines and Branches 4,375.12 Less not Operated, Anderson Branch... 9.98 Main Line and Branches Operated 4,365.14 CONTROLLED BY OWNERSHIP OF SECURITIES. A. — Leased (534.65 miles) : South Carolina & Georgia RR. (241.11 m.) : Miles. Charleston, S. C., to Augusta, Ga 136.91 Branchville to Columbia, S. C 67.10 Kingville to Camden, S. C 37.10 Sumter and Wateree River RR. : Sumter Junction to Sumter, 8. C 15.81 Mobile and Birmingham RR. : Marion Junction to Mobile, Ala 148.55 Richmond and Mecklenburg RR. : Keysville to Clarksville, Va 31.30 Georgia Midland Ry. : McDonough to Columbus, Ga 97.88 B. — Not Leased (733.27 miles) : Asheville and Sptrtanburg RR. (133.90 m.) : Biltmore, N. C., to Spartanburg Jc., S.C. 65.90 Spartanburg to Alston, S. C 68.00 State University RR. : University to Chapel Hill, N. C 10.20 North Carolina Midland RR. : Mooresyille to Winston-Salem, N. C 63.62 High Point, Randleman, Asheboro' and Southern RR. : High Point to Asheboro', N. C 26.80 Yadkin RR. : Salisbury to Norwood, N. C 41.00 Elberton Air-Line RR. : Toccoa to Elberton, Ga 50.60 Knoxville and Ohio RR. (69.32 miles) : Knoxville to Jellico, Tenn 65.30 Coal Creek to Cambria, Tenn 4.02 Carolina Midland Ry. (136.76 miles) : Cayce to Hardeeville, S. C 128.82 Perry to Sievern, S. C 7.94 Sievern and Knoxville RR. : Batesburg to Sievern, S. C 17.44 Atlantic and Yadkin Ry. (165.17 miles) : Sanford to Mt. Airy, N. C 130.95 Climax to Ramseur, N. C 18.74 Stokesdale to Madison, N. C 11.39 Gulf to Bluff Quarry, N. C 0.05 Greensboro to Proximity Mills, N. C 2.02 Mt. Airy to Granite Quarry, S. C 2.02 Ensley Southern Ry. (28.46 miles) : Ensley, Ala., to near Warrior River.... 19.22 Parrish.Ala., to near Little Warrior Riv. 9.24 Total Controlled 1.267.92 Total Main Line and Branches 4,375.12 Total Controlled 1,267.92 Total Covered by So. Ry. Securities. .6,643.04 *The mileage of the Charlottesville and Rapidan RR., from Charlottesville to Orange, Va., 28.22 miles, is included in this length, although that line has not as yet become formally merged into the Southern Ry. (see description of C. & R. bonds in Sec. 13). 248 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. LEASED LINKS. Miles. North Carolina BR. (224.34 miles) : Ooldsboro to Charlotte, N. C 222.44 Caraleigb June, to Caralelgh Mills, N.C. 1.90 Atlanta and Charlotte Air-Line Ry. : Charlotte, N. C., to Atlanta, Ga 268.17 fmnklin tnul 1'ittsulvania RR. : Pittsvllle to Rocky Mount, Va 29.90 Atlantic and Danville Ry. (282.16 miles) : Danville to West Norfolk. Va 205.10 James Rlv. Jc. to Claremont Wharf, Va. (n. g.) 50.36 Hitchcock Jc. to Hitchcock Mills, Va.... 8.33 Buffalo Jc. to Buffalo Lithla Springs, Va. 3.90 LEASED LINES — Continued. Miles. 10.C2 Brouyht Forward Shoulders Hill to Shops, Va Vlrgfllna. Va., to Mines, N. C (N. & 8. C. RR.) 4.45 Lockhart RR. : Lockhart Junction to Lockhart, S. C 13.81 Total Leased 818.38 OPERATED UNDER AGREEMENT. Roswell RR. (narrow gauge): Chamblee to Roswell, Ga 9.80 Summary of track mileage of the same lines, and of mileage of steel rails, June 30 1903: Main Track Miles. . . 4,365.14 Second Track Miles. 20.56 Side Track Miles. 1,026.07 Proprietary Roads . 1,267.92 6.19 242.27 . 818.38 190.76 Roswell RR . . 9.80 0.16 Total Operated . ..6,461.24 26.75 1,459.26 9.98 0.96 Total Track Miles. 5,411.77 1,516.38 1,009.14 9.96 7,947.25 10.94 *Steel Rail Miles. 4,316.10 1,236.15 794.82 0.89 6,347.96 10.44 •Iron Rail Miles 77.50 3.3 23.56 8.9 113.28 0.50 113.7 Grand Total 6.471.22 26.75 1,460.22 7,958.19 6,358.40 •Excluding sidings, of which there Is no record as between iron and steel rail. 3. History. — Chartered Feb. 20, 1894, as successor to the Richmond and Point Terminal Railway and Warehouse Co., and for the purpose of consolidating th< various interests controlled by that company. A sketch of the history of the system fron the incorporation of the Richmond and Danville RR. Co. on March 9, 1847, down to thi beginning of the present management, is in the MANUAL for 1897, pages 763 to 767. Ii later editions, the subsequent history of the company down to June 30, 1901, is recorded Effective January 1, 1902, the branch line extending from Belton to Anderson; S. C., 9.9S miles, known as the Anderson Branch of the Columbia and Greenville RR., was leased t( the Blue Ridge Ry. Co. for a term of one year, and thereafter until the lease is terminate upon thirty days' notice. During the year ending June 30, 1902, there were added to th< lines operated by the company two sections of the Ensley Southern Ry., aggregating 28.4( miles (see Sec. 2) and an extension of the former Knoxville and Augusta RR. fron Maryville to Walland, Tenn., 10.21 miles. The Ensley Southern Ry. Co. is controlled bj the Southern Ry. Co., through ownership of its securities. Its line is under constructior and will extend from Ensley to Parrish, Ala. Joint Control of Monon. — On May 20, 1902, the Southern Ry. Co. and the Louisvill* and Nashville RR. Co. offered to purchase for joint account not less than 51 per cent, o the capital stock of the Chicago, Indianapolis and Louisville Ry. Co. at the price of 90 pei cent, of par for the preferred shares and 78 per cent, of par for the common shares, pay ment to be made in joint 4 per cent, bonds, secured by deposit of the shares acquired. It was provided that the amount of capital stock (51 per cent:) called for in the offer should be deposited not later than July 1, 1902. Up to March 1, 1903, $9,696,900 of the common stock and $3,800,000 of the preferred stock of the Chicago, Indianapolis and Louisville Ry. Co. were acquired and $11,682,582 of the joint bonds issued in payment therefor. Southern Ry., Carolina Division. — Effective July 1, 1902, the Southern Ry. Co. took a lease of the Southern Railway-Carolina Division, a consolidation of four of its proprietary roads — the Asheville and Spartanburg RR., the Carolina Midland Ry., the South Carolina and Georgia RR., and the South Carolina and Georgia Extension RR. ( the control of the last named having been acquired after June 30, 1902). A statement for the Southern Railway-Carolina Division will be found in Section 22. Jacksonville Extension.— Effective July 1, 1902, the Southern Ry. Co. purchased the securities of the Atlantic. Valdosta and Western Ry. Co. and of the St. Johns River Ter SOUTHERN RAILWAY SYSTEM. 19O3. Southern Railway Owned or Leased Operated separately -Majority Stock Owned Other lines in which Southern Ry. Co. Is interested Connections • Trackage Rights BEACH POOR'S MANUAL — SOUTHERN RY. CO. 249 mi rial Co., but on Oct. 16, 1902, the greater part of the Atlantic, Valdosta and Western Ry. was conveyed by deed to the Georgia Southern and Florida Ry. Co., as shown in the statement for that company (see GENERAL INDEX). Effective on the same date, July 1, 1902, the company acquired joint trackage rights in the Atlantic Coast Line RR. between Savannah, Ga., and Jacksonville, Fla., making the Southern Ry. an initial line at the latter point and increasing the operated mileage of the system 172 miles. 4. Trackage Rights. — Lines and parts of lines operated under trackage rights: NAME OF RAILROAD. TERMINI. •a$ •^.3 ANNUAL CONSIDERATION. From — To— Washington, D. C Peter's St. toUn. Dp... a. Jc. to W. Br'd St . . Ent. to Union Dep. . . . Ent. to Union Uep. . . . Alexandria, Va. . . 6.95 0.67 3.37 0.49 0.25 0.87 0.20 3.60 14.00 27.03 0.40 0.52 0.20 4.41 0.75 99.50 54.88 0.35 0.60 38.00 23.30 2.94 3.18 0.10 1.80 0.06 0.50 0.33 9.90 5.52 Wheelage proportion of interest on valuation and of maintenance. Rental based on train mileage. $1,000. Proportion of gross earnings. I- $200 per month. Joint use of track; rental, $250 per month. Wheelage prop'n of int. on val'n. Proportion of gross earnings. Wheelage prop'n of 5 p. c. on valu'n. * Wheelage prop'n of int. on val'n. \i of 6 p. c. on cost, and wheelage pro- portion of maintenance. Wheelage proportion of 5 p. c. per annum on valuation and maint. t !• 5 p. c. on % of valuation. | $5,000 per month. Wheelage proportion of 5 p. c. per annum on valuation and maint. Wheelage proportion of interest on cost and of maintenance, and same proportion of maintenance. $50 per month. Wheelage proportion of interest on agreed valuation. Rental on wheelage basis. Atlanta, Ga Augusta A Summerville RR Savannah, Ga Augusta, Ga Augusta, Ga Georgia RR .. J Western & Atlantic RR W. A A. Crossing Woodlawn, Ala Birmingham, Ala Dalton, Ga Birmingham, Ala Mobile June., Ala Meridian, Mips Alabama Gt. So. RR Louisville A Nashville RR York, Ala Cent Pass Sta Ent. to Union Dep L. <-nfd for operation May 25, 1002, is owned and used jointly by the Southern Ry. Co., the Atlantic Coast Line RR. Co. and the Seaboard Air Line RR. 9. Statement of operations, income and capital accounts for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Average Milrs Unrated. . . 4.573.80 6,580.382 8,583,217 4,805.75 6,846,566 8,941,793 4,827.22 6,975,536 9,627,681 5,254.05 8,277.352 10,969,005 6,306.12 9,787,143 12,989,996 6,424.94 10,395,169 12,229,526 0.743.01 11.730,345 13,713,086 Freight Train Mileage . . Total Revenue Train Mileage . . Total Engine Mileage 15,163,599 19,373,429 4,139,473 2,50,205,340 7,941,980 1,239,686,022 15.788,359 19,834,545 4,057,327 203,763,405 7,904,706 1,324,015,178 16,603,217 20,584.933 4,200.347 220,599,274 8,554,012 1,436,673,635 I9.24i1.357 24,246,279 5,118,011 311,020,836 10,220,200 1,771,925,333 22,777,139 30,100,477 6,691,958 329,394,119 13,590,353 2,294,257,940 22,624,695 30,232,161 7.437,404 370,424,273 14,121, IS] 2.344,053.449 25,449,431 33,953.107 8,611,069 427,841,247 IO.S11.53H 2,678.308,627 9.601.360 24,!»42,4ffl 3,168,428 Pimyii^rm Carried Freight (ton) Mileage Earnings — Passenger 5,287,914 12,055,240 1,739,093 $ 4,832,848 12,386,901 1,859,751 $ 5,394 518 13,679.164 2,022,156 S 7,083,253 16,099,293 2,171,140 1 7,737,454 21,006,730 2,456,686 $ 8,818,287 22,929,4% 2,912,699 Freight Other Total Earnings 19,082,247 13,451,448 19,079,500 13,233,156 21,095,838 14,501,864 25,3-53,686 17,356,355 31,200,870 21,831,447 34,660,482 24,343,625 37,712,248 26,846,837 5,630,799 188,508 5,846,344 286,832 6,593974 348,378 7,997,331 328,469 9,369,423 318,805 10,316,857 498,706 10,865,411 824,509 Other Receipts Net Income Interest on Bonds 5,819,307 3,743,305 1,475,965 44,459 6,133,176 4,074,244 1,537,990 75,022 * 6,942,352 4,974,143 888,625 72,571 * 8,325,800 5,221,504 985,749 24,028 * 9,688,22S 5,304.679 1,450,762 15,535 (3) 1,800,000 10,815,563 5,768055 1.413,241 93,767 (4) 2,400,000 11,689,920 6.380,362 1,453,252 255,409 1. ">) 3,000.000 Other Charges Preferred Dividends Total Payments 5,262,829 556,478 4,17208 2,94098 1,231 10 70. 49 p. c. 2.113c. 0.972 c. 2,944.14 3,454.83 2,753.14 038 355 157 19,457 287 S 120,000,000 .54,300,000 5.687,256 445,920 3,970 14 2,75361 1,21653 69.35 p. c. 2.372c. 0.936 c. 2,941.64 3,492.19 2,787.02 640 355 156 19.118 318 S 120,000,000 54.300,000 5,935,339 1,007,013 4,272 32 2,936 91 1,33541 68.41 p. c. 2.317 c. 0.931 c. 3,568.18 4,299.42 3,419.72 686 390 179 21,162 392 S 120,000,000 57,290,400 6,231,281 2,094,519 4,714 77 3,22759 1,487 18 68.46 p. c. 2.232 c. 0.899 c. 3,579.43 4,314.00 3,469.46 764 463 197 23,912 468 S 120,000,000 60,000,000 8,570,976 1,117,252 4,947 71 3,461 94 1,48577 69.98 p. c. 2.349 c. 0.916 c. 3,618.36 4,426.49 3,543.25 797 484 202 27,368 604 S 120,000,000 60,000,000 9,675,063 1,140,500 5,24) 97 3,681 67 1,56030 70.23 p. c. 2.326 c. 0.936 c. 4,360.26 5,360.13 4,274.95 915 542 228 33,056 691 1 120,000,000 1X1,000,000 •i.vio.!«X) 124,581,700 25,552,200 8,503,510 10.042,829 4,037,254 11,089,023 600,897 5.592 29 3,981 08 1,61121 71. 19 p. c. 2.244 c. 0.931 c. 4,375.12 5,418.05 4,336.66 937 543 226 34,684 746 S 120,000,000 60,000.000 4,932,600 129,231,900 25, 140.000 7,497,738 9,339,274 0..-.10.895 Balance, Surplus Gross Earnings per Mile Gross Expenses per Mile Net Earnings per Mile ... Expenses to Earnings Aver. Rate per Pass, per Mile . . Aver. Rate per Ton per Mile Miles of RR. Owned Miles of Track Owned Mile* of Steel Rail. . . Locomotive* Passenger Cars Baggage, etc., Cars. . . Freight Care. Service Cars Common Stock Preferred Stock M. & O. Stock Trust Ufa Funded Debt . . 7a. Earnings and Expenses, Supplementary Statement, year ending June 30, 1903, and comparison with year ending June 30, 1902. — Gross earnings — 1903, $42,354,- (>:>!!. 7<>; 1902, $37,988,198.75; increase, $4,365,861.01. Expenses and taxes — 1903, $30,- !>S!i.i:;ii.S8; 1902, $27,090,431.71; increase, $3,892,708.17. Xet earnings, 1903, $11,364,- 919.88; 1902, $10,891,767.04; increase, $473,152.84. 1O. General Balance Sheet, June 30, 1902. CREDIT. Capital Stock- Common $120,000,000.00 Preferred .,-. 60,000,000.00 — $180.000,000.00 Mobile & Ohio Stock Trust Certificates 4,932,600.00 Funded Debt Outstanding. (See details in Sec. 13) 129,231,900.00 Outstanding Securities of Leasehold Estates (see details in Sec. 16; 25,140,000.00 Equipment Notes of Old Companies or their Receivers: South Carolina and Georgia RR 1 1,233.73 Louisville, Eyansville & St. Louis Consolidated RR 34,989.03 — 46,222.76 Equipment Obligations of Southern Ry. Co. : Miscellaneous Equipment Obligations Unmatured 493,874.88 Southern Ry. Car Trust Series A 2,337,000.00 Southern Ry. Equipment Trust Series B 2,220,000.00— 5,050,874.88 Certificates of Indebtedness: Account purchase South Carolina and Georgia RR. Stock and Northern Alabama Ry. Bonds and Stock 600,000.00 Account of Extensions Carolina Midland Ry 500,000.00 Account Construction Ensley Southern Ry 240,000.00 Is-ned May 1, 1901 (see Sec.' 20) 900,000.00— 2,240,000.00 Unpaid Balance of Purchase Price of Northeastern RR. of Georgia 107,000.00 Unpaid Balance on Real Estate 50,000.00 Equipment of Roswell RR 3,640.00 Total Capital, Funded and Lien Liabilities $346,802,237.64 Reserve Funds: For .Maintenance of Way, $303,055.08; Maintenance of Equipment, $331,700.97; Insurance, $255,075.89; Miscellaneous, $543,737.23 1,433,569.17 Sundry Accounts 121,629.30 Interest and Rentals Accrued, not Due 776,711.49 Taxes Accrued, not Due 439,960.79 Current Liabilities: Interest and Rentals Due and Unpaid, including amount due July 1 .... 2,147,799.84 Audited Vouchers 2,209,749.34 Unpaid Wages, including June Pay Rolls 1,310,644.85 Foreign Freight Claims; Authorities Issued 62,858.04 Due Other Transportation Companies '..'. 519,253.74 Due Individuals and Companies 317,097.51— 6,567,403.32 Profit and Loss ( 6,510,894.88 Total Liabilities $362,652,406.59 DEBIT. Cost of Road— Southern Ry. Properties to June 30, 1901 $263,608,278.65 Current New Construction, year 1901-1902 838,582.36 $264.446,861.01 Less Sundry Adjustments 29,361,34 — 264,417,499.67 Cost of Road— Leasehold Estates 23.749,267.31 Cost of Equipment- Equipment Owned June 30, 1901 12,780,164 18 New and Additional Equipment, year 1901-1902. . . . 414,181.99 E. T. V. & G. Trust Paid off 225,000.00 Add Sundry Adjustments 1,675.30— 13,421,021.47 Trust Equipment Received with Purchased Properties 1,593,142.00 Southern Ry. Miscellaneous Trust Equipment ' 493,874.88 Southern Ry. Trust Equipment, Series A 2,337,000.00 Southern Ry. Trust Equipment, Series B 2,220,000.00 Equipment Leasehold Estates 1,390,732.69 Equipment Roswell RR 3,640.00 Total Cost of Road ($288,166,766.98), and Equipment ($21,459,411.04) $309,626,178.02 Cost of Securities — Pledged under 1st Consol. Mtge 13,696,290.56 Pledged under Memphis Division 1st and 2d Mtges. . . . 700,001.00 Pledged to secure Southern Ry. Certificates of Indebt- edness and Southern Ry. Collateral Trust 4 p.c.Bds . 10,634,514.76 Pledged to secure South. "Ry. M. & O. Collateral Mtge. Bonds 7,949,000.00 Pledged to secure South. Ry. M. & O. Stock Trust Certificates 4,932,600.00 U. S. Bonds Deposited under North Carolina RR. Lease 182,750.00 Securities in Treasury Unpledged, held for Control or as Muniments of Title 1,656,915.59— 39,752,071.91 Materials and Supplies on Hand 1,923,181.95 Rails and Fixtures— Leased 211,096.59 — 2,134,278.54 Total Capital Assets $351,512,628.47 254 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. Brought Forward.— (Total capita! assets) Southern Ry. Co. Consolidated Mortgage Bonds in Treasury Miscellaneous Securities Owned, in Treasury Unpledged Hills Receivable — Deferred but Secured Insurance Paid, Not Accrued Sinking Funds — Uninvested Balances in Hands of Trustee* . . Insurance Fund Sundry Accounts Advances to Subsidiary Companies Income Accrued, Not Due Current Assets— Cash in Hands of Treasurer and in Hands of Fin. Agents Cash in Transit from Agencies Due from Agents and Conductors Due from United States Post-Office Department Due from Other Transportation Companies Due from Individuals and Companies Bills Receivable — Current $3,281,875.74 688,516.97 766,769.61 416,412.49 646,190.02 695,419.69 88.S60.43— $351,512,528.47 1.535.000.00 1,795,178.12 194.130.85 8.563.71 128,656.63 255,000.00 194,033.08 329,284.11 105,986.67 6,594,044.95 Total Assets $362,652,406.59 lOa. Dividends. — Dividend No. 9 on preferred stock, 2i/2 p. c., was paid in April, 1902, from the net profits of the half year ending Dec. 31, 1901. Dividend Xo. 10 on preferred stock, also 2ys p. c. (making 5 p. c. for the year) was paid on Oct. 31, 1902, from the net profits of the half year ending June 30, 1902. 11. Capital Stock. — The amount of capital stock authorized is as shown on the General Balance Sheet. Preferred stock is entitled to dividends at the rate of 5 p. c. a year, non-cumulative. No additional mortgage can be put upon the property, nor can the authorized amount of the preferred stock be Increased, without the consent in either case of a majority in amount of the preferred stockholders. By act of the Legislature of Virginia, effective Jan. 23, 1900, the company may at any time, by majority vote, reduce its common stock to $60,000,000. 12. VotiiiK Tnmt. — In the plan of reorganization it was provided that both classes of the capital stock, except enough shares to«qualify directors, should be deposited in a voting trust until the company should have paid in one year, in cash, dividends of 5 p. c. on the preferred stock. That rate was paid In 1902 (2J p. c. in April and 2J p. c. in Oct.), but before the latter half yearly pay- ment was made the owners of a majority of each class of the capital stock assented to an extension of the voting trust until Oct. 15, 1907, or until such day thereafter as the owners of a majority of the assented stock shall, by vote on the date of any annual election for directcirs of the company, fix as the date for the termination of the agreement ; without prejudice, however, to the continuing right of the voting trustees. In their discretion, to terminate the trust at any time. Certificates of beneficial Interest, representing the ownership of the shares and entitling the holders to any divi- dends declared, are outstanding in lieu of the stock deposited. The voting trustees are J. P. Mor- gan, Charles Lanier and George F. Baker. 13. Funded Debt. — The funded debt on June 30, 1902 — total, $129,231,900 as per general balance sheet — consisted of the several issues of bonds listed in the following statement. Addi- tional particulars respecting any Issue will be found in the paragraphs relating thereto appended to the statement : $2,000,000 C. & G. RR. 1st 6s of Jan. 1, 1916. 3,106,000 E. T., V. & G. 1st gold 5s of July 1, 1930. 12,770,000 E. T..V. & G. con. gold 5s of Nov. 1. 1956. 1,000,000 Ala. Cent. RR. 1st gold 6s of July 1, 1918. 5,660,000 Ga. Pac. Ry. 1st gold 6s of Jan. 1, 1922. 69,000 G. P. Ry. equip, sink, fund gold 5s. 2,000,000 K. & O. RR. 1st gold 6s of July 1, 1925. 1,000,000 S., U. & C. RR. 1st gold 4s of Jan., 1995. 600,000 Va. Mid. Ry. series A 6s of Mar. 1, 1906. 1,900,000 Va. Mid. Ry. series B 6s of Mar. 1, 1911. 1,100,000 Va. Mid. Ry. series C 6s of Mar. 1, 1916. 950,000 Va. Mid. Ry. series D 5s of Mar. 1, 1921. 1,775,000 Va. Mid. Ry. series E 5s of Mar. 1, 1926. 1,310,000 Va. Mid. Ry. series F 5s of Mar. 1, 1931. 4,859,000 Va. Mid. Ry. gen. 5s of May 1, 1936. 294,400 Ch. & Rap. RR. 1st 6s of July 1. 1913. 1,500,000 Atl. & Yad. 1st gold 4s of April 1, 1949. $36,465,000 1st consol. gold 5s of July 1, 1994. 4,500,000 E. Tenn. Reorg. gold 5s of Mar. 1, 1938. 5,083,000 Memphis Div. 1st gold 4s of July 1, 19%. 1,500,000 Memphis Div. 2d gold 5s of July 1, 1996. 150,000 Aiken Br. 1st gold 4s of July 1, 1998. 11,260,000 St. Louis Div. 1st gold 4s of Jan. 1, 1951. 7,949,000 Mob. & Ohio coll. gold 4s of Sept. 1, 1938. 4,000,000 Collateral Trust gold 4s of Dec. 1, 1906. 6,997,000 R. & D. RR. con. gold 6s of Jan. 1, 1915. 3,368,000 R. & D. RR. debent. 5s of April 1, 1927. 490,000 R. & D. eq. s. f. gold 5s of Sept. 1, 1909. 1,026,000 W., O. & W. RR. 1st 4s of Feb. 1, 1924. 400,000 R., Y. R. & C.RR. 1st ext. 5s of Jan.,1910. 600,000 R., Y. R. & C. 2d ext. 4Js of Nov., 1910. 160,000 A., T. & O. RR. 1st 6s of April. 1913. 2,531,000 W. N. C. 1st con. gold 6s of July 1, 1914. 1,480,600 C., C. & A. 1st ext.gold 6s of July 1, 1909. 600,000 C., C. & A. RR. 2d gold 7s of Oct.. 1910. First Consol. Mtge. Bonds. — These are authorized to the amount of $120,000,000, and of the $83,535,000 of bonds unissued on June 30, 1902, $11,942,300 were held for extensions, additions, and betterments; $68,870,700 for the retirement of prior liens; $5,700,000 for the acquisition of the stocks of the North Carolina RR. Co., and the Atlanta and Charlotte Air-Line Ry. Co., and the remainder for the retirement of equipment obligations and for other purposes. Of the $36,465,000 issued up to June 30, 1902, $2,790,000 represented bonds free in the treasury, the amount actually outstanding being $33,675,000. The bonds are secured by a direct mortgage on all lines owned by the company, as well as on Its leasehold estates, etc., and by pledge of bonds and stocks of the par value of $19,148,825, the details of which are shown in Sec. 18. The mortgage securing these bonds is now a direct first lien on 609.34 miles of road, as follows : Clarksville to Durham, N. C., 56.8 m. ; Oxford to Henderson, N. C., 12.72 m. ; Greensboro to Wilkesboro, N. C., 100.15 m. ; Statesville to Taylorsville, N. C., 20 m. ; Atlanta to Fort Valley, Ga., 102.3 m. ; Mobile June, to Birmingham June., Ala., 34 m. ; Gurnee June, to Blocton, Ala., 14.30 m. ; Rome to Attalla, Ala., 61.3 m. ; Marion June, to Akron, Ala., 53 m. ; Knoxville to Maryville, Tenn., 16 m. ; Clinton to Harriman June., Tenn., 30.6 m. ; Brlceville to Panola, Tenn., 3.7 m. ; Oliver Springs to Big Mountain, Tenn., 3.26 m. ; Rogersvllle June, to Rogersville, Tenn., 16 m. ; Johnson City to Embreeville, Tenn., 13 m. ; Knoxville, Tenn., to Cumberland Gap, Ky., 62.36 m. ; the Knoxville Belt Line, 5.85 m. ; and exten- sion from Round Hill to Bluemont. Va.. 4m. It is also practically a first lien on the following- POOR'S MANUAL — SOUTHERN RY. CO. 255 named railroads by virtue of the pledge of all of the mortgage bonds outstanding secured by first liens thereon ; Danville and Western Ry., 75 m. ; Elberton Air-Line RR., 50.6 m. ; High Point. Randleman, Asheboro and Southern RR., 26.8 m. ; North Carolina Midland RR., 53.55 m. ; South- ern Ry. In Ky., 123.2 m. ; Yadkin RR., 41 m. — total, 370.15 miles. East Tennessee Reorganization Bonds. — Secured by a lien on certain parts of the lines of rail- way formerly of the East Tennessee, Virginia and Georgia Ry. Co., identical in terms with but less in amount than the lien of $6,000,000 former Improvement and Equipment bonds of the East Tennessee, Virginia and Georgia Ry. Co., for which they were substituted pursuant to the plan of reorganization. They also constitute a lien prior to that of the Southern Ry. 1st consolidated mort- gage on $561,200 of the capital stock of the Knoxville and Ohio RR. Co. and on the $2,656,525 capi- tal stock of the Memphis and Charleston RR. (See statement of securities deposited under the 1st consolidated mortgage.) Memphis Division First Mtge. Bonds. — Secured by first mortgage on the 257 miles of the old Memphis and Charleston RR. In Alabama and Tennessee, together with appurtenances, etc., and by pledge of a separate bond of $900,000, resting as a first lien on the 35 miles within the State of Mississippi, together with 1,000 shares of the capital stock of the Memphis and Charleston Ry. Co. (in Mississippi), the direct owner of that section of the line. The amount of bonds authorized to be issued under this mortgage is $8,000,000, of which $1,417,000 are reserved to be issued at a rate not exceeding $100,000 per annum for future improvements upon the Memphis Division ($100,000 of these bonds have been issued since June 30, 1902, increasing the amount outstanding to $5,183,- 000) and $1,500,000 are reserved solely for the construction, if determined upon, of a line of rail- way between Stevenson, Ala., and Chattanooga, Tenn., replacing the trackage now used over the Nashville, Chattanooga and St. Louis Ry. If not used for this purpose, the $1,500,000 of bonds can not be issued. All of the bonds are to bear interest at the rate of 4J p. c. per annum until July 1, 1906, and 5 p. c. per annum thereafter. Memphis Division Second Mtge. Bonds. — Secured on the same property as the 1st mtge. bonds, but subject in lien thereto. .The total authorized issue is $2,500,000, bonds amounting to $1,000,- 000 being reserved for improvements or for the purchase of additional property. The $1,500,000 shown in the statement of funded debt have not been sold, but are pledged as security for the $1,000,000 certificates of indebtedness issued on account of the purchase of the Memphis and Charleston RR. (See General Balance Sheet.) Aiken Branch Bonds. — These bonds are secured by mortgage upon the line from Aiken to Edge- field, S. C., 23.58 miles. St. Louis Division Bonds. — Secured by first mortgage on the railway, real estate, and franchises of the St. Louis Division lying within the State of Illinois, and on the equipment and personal prop- erty formerly of the Louisville, Evansville and St. Louis Consolidated RR. Co., also by deposit of $999,300 capital stock and a $5,000,000 1st mtge. bond of the Southern Ry. Co. of Indiana. The amount of bonds authorized to be issued under this mortgage is $15,000,000, of which $2,750,000 are reserved for additions and improvements or for the construction or acquisition of branches or extensions, not more than $500,000 thereof to be issued in any one year. The remaining $1,000,000 bonds are to be issued only for the construction of a line or portions of a line to overcome the high grades of the line for about 75 miles west from New Albany, Ind. Mobile and Ohio Collateral Bonds. — Secured by the deposit of an equal amount of gen. mtge. bonds of the Mobile and Ohio RR. The balance of the authorized issue of $9,500,000 is reserved for the acquisition of the outstanding balance of gen. mtge. bonds of the Mobile and Ohio RR. Co. Pro- vision is made in the trust indenture for a sinking fund under which the bonds may be retired before their maturity, but only whenever and to the same extent as Mobile and Ohio gen. mtge. 4 p. c. bonds (which may have been pledged as security under the trust indenture) are retired under the sinking fund provision in the general mortgage of the Mobile and Ohio RR. Co. R. & D. RR. Consol. Mtge. Bonds. — Secured on the line from Richmond to Danville, Va., and branches, 146 miles. The trustee holds as collateral security for these bonds, $500,000 1st mtge. bonds and $500,000 2d mtge. bonds of the Piedmont RR. Co. R. & D. RR. Debenture Mtge. Bonds. — These are a lien subsequent to the consolidated mortgage of 1915 on the main line and branches of the R. & D. RR. R. & D. RR. Equipment Mtge. Bonds. — It is provided that the company shall pay to the trustee on each interest day a sum equal to 4J p. c. of the principal of bonds previously issued, whether any shall have been redeemed or not, and so much of this sum as is not required to pay interest is to be used in redeeming outstanding bonds at par and accrued interest. Washington, Ohio and Western First Mtge. Bonds. — Secured on the line from Alexandria to Round Hill, Va., 50 miles. The amount shown in the statement of funded debt, $1,025,000, does not include $221,000 owned by the Southern Ry. Co. and pledged under the 1st consolidated mort- gage (see Sec. 18). Richmond, York River and Chesapeake Bonds. — These are secured in the order of their priority on the line from Richmond to West Point, Va., 39 miles, and constitute liens prior to that of the Southern Ry. 1st consolidated mortgage on $125,100 of the capital stock of the Chesapeake Steam- ship Co. (see Sec. 18). Atlantic, Tennessee and Ohio Bonds. — Secured by first mortgage on the line from Charlotte to Statesville, N. C., 45.91 miles. Western North Carolina Bonds. — Secured by first mortgage on the line from Salisbury to Paint Rock, N. C., 184.9 miles. Charlotte, Columbia and Augusta Bonds. — Secured in the order of their priority on the line from Charlotte, N. C., to Augusta, Ga., 190.53 miles. Interest is payable in gold. Respecting the due date of the Charlotte, Columbia and Augusta 2d mtge. bonds, referred to in the MANUAL for 1900, page 392, it is authoritatively stated that the Southern Ry. Co. will recognize as the due date of the bonds, Oct. 1, 1910, as shown on the face of the bonds and by the coupons, instead of Oct. 1, 1902, as stated in the recorded mortgage. Columbia and Greenville Bonds. — Secured on the line from Columbia to Greenville, S. C., 143.50 miles, and branches, 21.48 miles — total, 164.98 miles. East Tenn., Virginia and Georgia First Mtge. Bonds. — Secured by first mortgage on the line from Bristol, Tenn., via. Chattanooga, Tenn., and Rome, Ga., to Selma, Ala., about 550 miles. Ease Tenn., Virginia and Georgia Consol. Mtge. Bonds. — Secured on the entire property of the old E. T., V. & G. Ry. Co., including its interest in the Knoxville and Ohio and Memphis ana Charleston RR. Cos. (see Sec. 22). Alabama Central Bonds. — Secured by first mortgage on the line from Lauderdale Miss., to Selma, Ala., 95 miles. Mill's MANTAI, OK HAILROADS SOUTH ATLANTIC GROUP. Georgia Pad/If Bond*. — The 1st mtge. 6s are secured on the line from Greenville, Miss., to At- lanta. Ga.. und brunt hfs. a total of about 655 miles. The equipment sinking fund bonds have been called for redemption since the close of the fiscal year. KH..JI i//.- and Ohio Bonds. — Secured by first mortgage on the line from Knoxville to Jellico, Tenn.. 65.3 miles. Sfartanbnry, Union and Columbia Bonds. — Secured by first mortgage on the Ashcville and Spartunbunc Ky., 133.9 miles. The Southern Ry. Co. guarantees the interest but not the principal of these bonds. Vin/iniii Midland Serial Bonds. — The 1st series is secured by a 1st lien on all lines between Alexandria and Qordonsville, including the lease of the Charlottesville and Rapidan KH. ; the 2d series by a 2d lien on the same lines, and a 1st lien on the line between Charlottesville and Lynch- burg ; the 3d series by a 3d Hen on lines between Alexandria and Gordonsville, and a 2d lien be- tween Charlottesville and Lynchburg ; the 4th series by a 4th lien on lines between Alexandria and Gordonsville, and a 3d lien between Charlottesville and Lynchburg ; the 5th series by a 5th lien on lines between Alexandria and Gordonsville, a 4th lien between Charlottesville and Lynchburg, and a l«t Hen on the road from Manassas June, to Harrlsonburg ; the 6th series by a 1st lien on the road between Lynchburg and Danville, including Pittsville Branch and lease of Franklin and Pittsylvanla KH., and a 6th lien on the lease of the Charlottesville and Rapidan RR. Virginia Midland Gen. Mtge. Bonds. — Secured on the entire property formerly of the Virginia Midland Ry. Co. These bonds are a direct obligation of the Southern Ry. Co. A sufficient amount of them Is reserved for the retirement of the serial bonds. Ckarlottesville and Rapidan Bonds. — Secured by 1st mortgage on 28.22 miles of the Alexandria- Greensboro line, from Charlottesville to Orange, Va. The road is leased by the Southern Ry. Co. at a rental of $35.300 per annum. Part of this rental Is annually applied to the retirement of the bonds, the capital stock being retired simultaneously therewith. On Jan. 1, 1914, the bonds and the stock will have been retired and the road will be merged into the Southern Ry. In the meantime it Is necessary to preserve the corporate existence of the C. & R. RR. Co. Atlantic and Yadkin Bonds. — Secured by first mortgage on the Atlantic and Yadkin Ry., 166.22 miles. The bonds are guaranteed, principal and interest, by the Southern Ry. Co., the guaranty being endorsed on each bond. 14. -li \ i I Ir. Motion Collateral, Joint Gold BondH. — After June 30, 1902, $11,683,000 of 4 p. c. 50-year joint bonds of this company and the Louisville and Nashville RR. Co. were Issued in payment for $3,800,000 of the preferred stock and $9,696,900 of the common stock of the Chicago, Indianapolis and Louisville Ry. Co. on the terms stated in Sec. 4. The authorized issue of these joint bonds is $15,500,000, of which bonds amounting to $13,390,- 000 were set aside to acquire the $5,000,000 preferred stock and the $10,500,000 common stock of the Chicago, Indianapolis and Louisville Ry. Co., while the remaining $2,110,000 were reserved for the betterment, improvement and enlargement of that company's property. The bonds reserved for betterments, etc., are to be issued under carefully guarded restrictions and at not exceeding the rate of $500.000 a year. The bonds are secured by deposit cf the shares against which they were issued, those shares being owned one-half each by the Southern Ry. Co. and the Louisville and Nashville RR. Co. Each of the companies named is liable for one-half of the bonds, principal and Interest, and each of them must bear one-half of all other obligations imposed by the indenture under which the bonds were issued. Should either company default in its obligations to the other in respect of the bonds, the deposited stock belonging to the defaulting company shall be- come the property of the company not in default, which thenceforth shall become liable in severally upon all covenants contained in the bonds. It Is provided that the C., I. & L. Ry. Co. shall not execute or Issue any bonds except for the refunding of Its existing obligations, or for the acquisition of additional property, or for betterments, improvements or other lawful purposes, and that no proceeds of any bonds to be issued by the C., I. & L. Ry. Co. shall be used to pay any part of the Joint bonds unless all such joint bonds shall then be paid. The bonds may be called for redemp- tion on any 1st of Jan. or 1st of July after Jan. 1, 1907, at 105 p. c. and accrued interest ; but not less than $1,000,000 shall be called at any one time, nor shall any of the registered bonds be called until all the coupon bonds have been redeemed or called for redemption. The bonds may be issued either In coupon or registered form, coupon bonds to be of the denomination of $1,000, and regis- tered bonds In denominations of $1,000, $5,000, $10,000 or multiples of $10,000. Coupon bonds may be registered as to nfincipal alone or may be exchanged for fully registered bonds. Principal and Interest are payable Tn gold, free of all taxes. Trustee and registrar of bonds : Standard Trust Co.. New York. N. Y. 15. Sinking Fnnd* — After the retirement of the Georgia Pacific equipment bonds there remain only two Issues with sinking fund features — the Richmond and Danville RR. equipment Rlnking fund 5 p. c. mtge. bonds and the Charlottesville and Rapidan RR. 1st mtge. 6 p. c. bonds. The operations of the sinking funds, it is expected, will retire the former in 1905 and the latter in 1913. 1O. OutntandlnK Securities of Leasehold Entatea. — The following is a statement in detail of the $25,140,000 outstanding on June 30, 1902., as per general balance sheet (additional particulars are in the separate statements for the respective leased lines and in the Ready Reference Bond List — see General Index) : 1500,000 A. A C.A.-L.Ry. 1st pr. 4s of 1907,lnt.A.&O. 4,250,000 A. £ C. A.-L. Ry. 1st 7s of 1907, int. J. & J. 760,000 A. & C.A.-L.Ry.ext.lnc. 4s of 1907. int. A. &O. 1,700.000 A. & C. A.-L. Ry. stock, 6 p. c. dlv. M. & 8. 4,000,000 No. Car. Ry. stock, dividends, J. & J 1,660,000 Oa. Mid. Ry. 1st gold 3s of 1946, int. A.& O. 6,250,000 3. C. A Oa. RR. 1st 5s of 1919, int. M. & N. $100,000 Sum. & Wat. Riv. 1st 5s of 1919, int.A.fi O 600,000 Mob. & Blrm.prior lien 5s of 1945, int.J.&J 1,200,000 Mob. & Birm. 1st 4s of 1945, int. J. & J. 900,000 Mob. & Birm. RR. pref.stock, div. J. & D. 315,000 Rich. & Meek. 1st 4s of Nov. 1, 1918. 3,925,000 Atl. & Dan. Ry. 1st 4s of 1948, int. J. & J. IT. Equipment Obligation* of Southern Ry. Co. — The outstanding equipment obliga- » created by the Southern Ry. Co. represent unmatured balances on contracts covering the fol- equipment : 3.481 freight cars received during fiscal year 1900, 3,469 freight cars received thte fl'Jlr?! IPSL^SlPiS^8! 're'*ht car* received during fiscal year 1902, 292 freight cars duo year not yet delivered, 50 passenger cars received during fiscal year 1901. 43 passenger iRcal year 1902 83 locomotives received during fiscal year 1901 and 35 loco- 5 wVta* Thl£\ i J£ flBCaI,/ear 192S The «">*""* «>st of this equipment was $9,683,827.69. SB oM 874 SH .. ~ en P?'K ?"M 8u°' 1902> W.632,952.81, leaving an unmatured balance of »o.OD0.874.88, as per general balance sheet. Equipment trust, series B, dated Oct. 1, 1901. covers Railroad Map of Florida. American Bank Note Company (.CABLE ADDRESS, "BANKNOTE NEWYORK"] BUSINESS FOUNDED 1793 AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANQUAQE COPYRIGHT. 1803. BY POOR'S RAILROAD MANUAL CO. Poor's Manual— Railroad Map of the United States, 1903. FLORIDA. Railroad Map of Florida. Tf MONEY QUESTION A HANDBOOK FOR THE TIMES Author of " Money and its Laws," " Resumption and the Silver Question,' 41 Twenty-two Years of Protection," "Poor's Manual of the Railroads of the United States," etc., etc. C/ofA. Price j/.SO What Is Money? Function of Governments in the Matter of Metallic Money. Metallic Money of the United States. Symbolic Money — Banks of Issue. Savings Banks. Money by Law. Bank of the United States. Overthrow of the Bank and the Inflation of the Currency. Change of Standards. Acts of J834 and J837. Debasement of the Silver Currency. Act of J853. Consequences resulting from the Abandon- ment by the Government of Oversight of the Currency* TABLE OF CONTENTS. United States Notes. United States Safety-Fund Banking System. Gold Certificates. Act Demonetization of the Silver Dollar, of J873. Remonetization of Silver. Act of J890. Position of the Late Administration. The Sound Money "Wing of the Democracy. The Free Coinage Democracy. Position of Present Administration. Bi-metallism. The Remedy. NOTES AND ILLUSTRATIONS. The Silver Recoinage in England. Paper Money in France — The Mississippi Scheme. Adam Smith. PRICE Sent postpaid to any address, on receipt of price. POOR'S RAILROAD MANUAL CO. 68 William St., New York City. Or, may be ordered through any bookseller. POOR'S MANUAL — SOUTHERN RY. CO. 257 10 passenger locomotives, 25 freight locomotives and 3,375 freight cars. The total cost of this equipment was $3,002,336.50, of which $602,336.50 was paid in cash ; equipment trust obligations were issued for the remaining $2,400,000. These obligations bear interest at the rate of 4 p. c. per annum and are payable in semi-annual installments, the last one due Sept. 30, 1908. 17a. Late Equipment Trunts. — Since June 30, 1902, two equipment trust agreements have been made with Blair & Co., of New York, N. Y., one of them, designated Series "C," covering 89 . locomotives, 2,500 drop-bottom gondola cars, 500 ventilated box cars, and 200 ballast cars, and the other one, designated Series " D," covering 147 locomotives, 500 ventilated box cars, and 200 drop- bottom gondola cars. The consideration named in agreement Series "C," is $4,144,396, of which $944,396 to be paid in cash and $3,500,000 in fourteen semi-annual installments, the first installment to be $223,000, and the rest, $229,000 each. Each installment is evidenced by promissory notes of $1,000 each, dated Dec. 1, 1902, and bearing interest at the rate of 4 p. c. per annum to the date of payment thereof, such interest being payable on the 1st of June and Dec. The consideration in agreement Series " D " is $3,235,175, of which $757,175 is to be paid in cash and the balance, $2,478,000 in $1,000 bonds, to be paid in fourteen semi-annual installments of $177,000 each, with interest at the rate of 4 p. c. per annum from the date of the bonds, May 1, 1903, to the date of their payment, such interest being payable on the 1st of May and Nov. 18. Securities Pledged Under 1st Consol. Mtge.— Statement showing as of June 30, 1902, the securities owned by the Southern Ry. Co., and by it pledged under its first consolidated mortgage deed: Railroad Stocks. Par Value. Ala. Gt. South. Ry. Co., Ltd., Class "A"$l,725,000 00 Ala. Gt. South. Ry. Co., Ltd., Class "B" 4,540,050 00 Atlantic & Yadkin Ry. Co 999,300 00 High Point R., A. & S. RR. Co 212,50000 Knoxville & Ohio RR. Co •1.111,30000 Mobile & Birm. RR. Co., Common 880,400 00 Mobile & Birm. RR. Co., Preferred 20,50000 North Carolina Midland RR. Co 787,600 00 Ore Belt RR. Co 30,000 00 Southern Ry. Co. in Kentucky 998,20000 Yadkin RR. Co 462,75000 No. Car. Midland RR. Co. 1st Mtge. 6s.. 801,000 00 Piedmont RR. Co. 1st Mtge. 6s t500,000 00 Piedmont RR. Co. 2d Mtge. 6s fBOO.OOOOO So. Ry. Co. in Kentucky 1st Mtge. 5s. . 3,000,000 00 So. Ry. Co. in Mississippi 1st. Mtge. 5s. 200,000 00 Western No. Car. RR. Co. 1st Mtge. 6s. 1,325,000 00 Wash., Ohio & West.RR.Co.lst Mtge.4s. 225,000 00 Yadkin RR. Co. 1st Mtge. 6s 615,000 00 Total Bonds $10,124,275 00 Other Securities. Chesapeake SS. Co.Cert.of Indebt'ness. 250,000 00 Chesapeake SS. Co., Capital Stock £400,000 00 Total Other Securities $650,00000 Grand Total of Securities $22,541,875 00 Total Stocks $11,767,600 00 Railroad Bonds. Ala. Cent. RR.Co.Inc. Bonds and Scrip. $1,355,275 00 Danville & Western Ry.Co. 1st Mtge.5s. 1,051,000 00 Blberton Air Line RR. Co. 1st Mtge. 7s. 150,000 00 High Ptv R..A.& S.RR.Co., 1st Mtge. 6s. 402,000 00 Book Valuation, as per Bal. Sheet $13,696,290 56 •Of this amount, $561,200 is held by the Central Trust Co. of New York, as trustee, under the consolidated mortgage of the East Tennessee, Virginia and Georgia Ry. Co., and the mortgage of the Southern Ry. Co. known as the " East Tennessee Reorganization Mortgage " ; so that only $550,100 is directly pledged under the first consolidated mortgage. fThese bonds are not pledged directly under the first consolidated mortgage, but are held by the Central Trust Co. of New York as security under the prior lien of the consolidated mortgage of the Richmond and Danville RR. Co. ^Subject to the prior lien mortgages of the Richmond, York River and Chesapeake RR. Co. as to $125,100 of this amount. 19. Treasury Securities.— Statement of "Securities in Treasury Unpledged," held for control or as muniments of title, June 30, 1902: Railroad Stocks. Par Value. Alabama Gt.So.Ry.Co.Ltd. — Class "B" $65,50000 Atlantic & Yadkin Ry. Co 70000 Asheville & Spartanburg RR. Co 1,047,98183 Augusta & Summerville RR. Co 50,000 00 Blue Ridge Ry. Co 100,000 00 Gin., New Orleans & Tex. Pac. Ry. Co. 11,100 00 Central Ry. Transfer & Storage Co 25,000 00 Danville & Western Ry. Co.. . .'. 368,600 00 Danv., Mocksv. & Southw. RR. Co 50,200 00 Elberton Air Line RR. Co 90,25000 Georgia Midland Ry. Co 1,000,00000 Hartwell Ry. Co 20,00000 Knoxrille & Ohio RR. Co 7,00000 Lawrenceville Branch RR. Co 7500 Mobile & Birming. RR. Co. — Common. 4,60000 Northern Alabama Ry. Co 46,90000 Richmond & Mecklenburg RR. Co 300,00000 South Carolina & Georgia RR. Co 13,00000 Southern Ry. Co. in Kentucky 1,80000 State University RR. Co 16,800 00 Spartanburg, Union & Colum. RR. Co. 1,000,000 00 Southern Ry. Co. of Illinois 3,000,00000 Railroad Bonds. Par Value. Blue Ridge RR. Co. 5 p. c. 1st Mtge... $100,00000 Franklin & Pitts.RR.Co. 6 p.c. 1st Mtge. 74,500 00 Hartwell Ry. Co., 5 p. c. 1st Mtge 20,000 00 Lawrencev. Br. RR.Co., 7 p.c. 1st Mtge. 30,000 00 Total Bonds , $224,500 00 Other Securities. East Tennessee Telegraph Co. Stock. . $1,750 00 Southwestern Construction Co. Stock. . 16,600 00 Miscellaneous 1,204,99065 Total Other Securities $1,223,34065 Grand Total of Securities $8.667,347 48 Total Stock $7,219,506 83 Book Valuation, as per Bal. Sheet.$l,656,915 59 2O. Certificates of Indebtedness.— The following statement shows in detail the cer- tificates of indebtedness outstanding on June 30, 1902, and on Feb. 1, 1903: 258 POOR'S MANUAL OF RAILROADS — SOUTH' ATLANTIC GROUP. IMOB 8«m-AvNDAi. INSTALLMENTS TOTAL OUTSTANDING Amount Payable Final Payment June 30, 1902 March 1. 1903 South Carolina A Georgia & N. Alabama puroh.. $ 300,000 250,000 120,000 300,000 May & Nov. Jan. & July Mch. A Sept. May & Nov. May 15, 1903 Jan. 1, 1903 Mch. 15, 1903 Nov. 1, 1903 600,000 500.000 240.000 900,000 1 300,000 120,000 600,000 May 1 1901 . Total* . • , - - 970.000 2,240,000 1.020,000 21. Unpaid Balance of Purchase Price of Northeastern RR. of Ga. — The total purchase price was $307.000, of which $100,000 was paid at the time of purchase (Nov. 1, 1899), and $100.000 on Nov. 1, 1900 ; the remaining $107,000 will be due on Nov. 1. 1914, with interest In the meantime at 31 p. c. per annum, payable seml-annually. The company has the right to antici- pate the payment of the deferred installment on the due date of any semi-annual interest payment. 22. RAILROADS OWNED, LEASED OB CONTROLLED BY THE SOUTHEBN RY. Co., AND THE RESULTS FROM THE OPERATION OF WHICH ABE INCLUDED IN THE ACCOUNTS OF THAT COMPANY. The publication of separate statements for the following railroads is discontinued for the reason that the Southern Ry. Co. owns all of their capital stocks and has assumed such of their bonded debts as it does not own. They are practically merged into the Southern Ry. Mileage. $ Atlantic 4 YadkinRy 166.22 Char. 4 Rapidan RR 28.22 Hberton Air Line RR 50.60 Knoxville 4 Ohio RR 69.32 N. 4 a Carolina RR 4.62 Capital Stock. I 1.000,000 100,000 196,100 1,122,200 50,000 Funded Debt. $ 1,500,000 310,200 150,000 2,000,000 Mileage. $ Sievern 4 Knoxville RR 17.44 Southern Ry. in 111 154.77 Southern Ry. hi Ind 211.37 Southern Ry. in Ky 122.83 Southern Ry. in Miss 238.87 Funded Debt. I dpital Stock. I 1,140,000 3,000,000 999,300 5,000,000 1,000.000 3,000,000 50,000 200,000 The bonds of the Atlantic and Yadkin Ry., Charlottesville and Rapidan RR. and Knoxville and Ohio RR. are outstanding in the hands of the public and are described in Sec. 13. ATLANTA AND CHARLOTTE AIR- LINE RY — Atlanta, Ga.. to Charlotte, N. C., 268.17 m. ; total track, 340.02 miles. Rail (steel; 268.17 m.). 60. 76 and 80 Ibs. HISTORY. — Organized Feb. 27, 1877, as succes- sor to the Atlanta and Richmond Air-Line Ry. Co. (see Manual for 1894, page 750). Operated by the Southern Ry. Co. under a contract between this company and the Richmond and Danville RR. Co., dated April 1, 1881, and to endure for 99 years. The Southern Ry. Co. acquired the rights of the R. & D. RR. Co. under said contract by virtue of its purchase of the property and franchises of the R. & D. RR. Co. at foreclosure sale in June, 1894. Under the terms of the oper- ating contract dividends are to be at the rate of 6 p. c. a year if gross earnings fall to or below $1,500,000 a year, 6 p. c. a year on gross earnings of from $1,500,000 to $2,500,000, and 7 p. c. If gross earnings exceed $2,500,000 in any year. INCOME ACCOUNT. — Rental, 1901-1902: Inter- est on bonds, $347,600 ; dividends of 7 p. c. on stock, $119,000; organization expenses, $4,000 — total, $470,600. FINANCIAL STATEMENT. — Capital stock ($100 shares), $1,700,000; funded debt (see details in Sec. 13), $5,500,000 — total, representing cost of property, $7,200,000. CORPORATE OFFICERS. — Charles S. Fair- child, Pres. ; Wm. N. Wilmer, Sec. ; Qeo. Sher- man, Treas., New York, N. Y. Office, 49 Wall St., New York, N. Y. ATLANTIC AND DANVILLE RY West Norfolk to Danville, Va.t 206.10 m. ; James River June, to Claremont, Va. (3-ft. gauge), 50.49 m. ; Portsmouth to Shoulders Hill, Va., 10.02 m. ; Hitchcock June, to Hitchcock Mills, Va., 8.33 m. ; Buffalo June, to Buffalo Lithia Springs, Va., 3.90 m. ; North and South Carolina RR. (leased), 4.62 m. — total. 282.16 m. ; total track (steel; 35 to 60 Ibs.). 315.41 miles. ROLLING STOCK. — Locomotives, 26; passen- ger train cars, 21 ; freight train cars, 824 ; road cars, 14. HISTORY. — Reorganization, Aug. 2, 1894, of the Atlantic and Danville Ry. Co. (See MANUAL for 18%, page 164.) Leased to the Southern Ry. Co., for 50 years, from July 1, 1899, at a fixed rental of $127,000 a year for the first two years (ended July 1, 1901), $167,000 a year for the next three years (ending July 1, 1904), $188,000 a year for the following five years (ending July 1, 1909), and $218,000 a year thereafter. If the company Issues the $500,000 of bonds reserved for additions to the property, as hereinafter shown, the fixed rental will be increased $20,000 annually. Also, the lessee agrees to pay the same rate of divi- dends on the common stock as may be paid on Its own common stock. The lease Is renewable forever in periods of 99 years. FINANCIAL STATEMENT, June 30, 1902. — Capital stock (common), $2,180,800; the preferred stock has been retired. Funded debt, $3,925,000 1st gold 4s of July 1, 1948. The authorized issue of the bonds is $4,425,000; the remaining $500,000 will be issued on the request of the lessee, but only for additions to the property. CORPORATE OFFICERS. — B. Newgass, Pres.. London, Eng. ; Charles O. Halnes, Vlce-Pres. ; Adam Treadwell, Sec. & Treas., Norfolk, Va. Of- fice, Norfolk, Va. FRANKLIN AND PITTSYLVANIA RR. — Pittsville to Rocky Mount, Va., 29.9 m. ; total track, 30.35 miles. Rail (steel, 9.56 m.), 66 Ibs. HISTORY. — Chartered March 12, 1878; opened May 1, 1880. Leased to the Southern Ry. Co. for a term of years ending May 1, 1914, the lessee to pay from gross earnings interest on bonds and sinking fund of 1 p. c. per annum, the remainder of gross earnings to be applied to reimbursement of lessee for expenses of operating ; any surplus after the payment of expenses, interest, and sink- ing fund to be applied to interest and principal of the $200,000 stock bonds. ROLLING STOCK. — Locomotives, 2. Combina- tion car, 1. FINANCIAL STATEMENT. — Capital stock ($100 shares), $200,000; funded debt (1st 6s of July 1, 1913). $100.000; unpaid coupons, $38,500 — total. $338.500. Contra: Cost of road, $300,000; current assets, $38,600 — total, $338,600. The Southern Ry. Co. owns $74,600 of the bonds. POOR'S MANUAL SOUTHERN RY. SYSTEM. 259 CORPORATE OFFICERS. — E. W. Saunders, Pres. ; O. H. Price, Sec. Office, Rocky Mount, Va. GEORGIA MIDLAND RY Columbus to McDonough, Ga., 97.88 m. ; total track ( steel, 97.88 m.), 107.97 miles. Rail, 56 and 65 Ibs. HISTORY. — Chartered March 27, 1896, as suc- cessor to the Georgia Midland and Gulf RR. Co. (See MANUAL for 1896, page 212.) Leased to the Southern Ry. Co. for 99 years from July 1, 1896, at a rental equivalent to 3 p. c. per annum on $1,650,000 1st mtge. bonds, besides $2,500 yearly as rental for terminal property in Columbus. FINANCIAL STATEMENT. — Capital stock ($100 shares), $1,000,000. Funded debt (1st gold 3s of April 1, 1946), $1,650,000. The Southern Ry. Co. owns all the capital stock. CORPORATE OFFICERS.— S. Spencer, Pres. ; R. D. Lankford, Sec., New York, N. Y. ; H. C. Ansley. Treas. ; A. H. Plant, Aud., Washington, D. C. Office, Columbus, Ga. HIGH POINT, RANDLEMAN, ASHBORO AND SOUTHERN RR High Point to Ash- bo ro, N. C., 26.80 miles. BALANCE SHEET, June 30, 1902. — Capital stock, $250,000 ; funded debt, $402,000 ; current liabilities, $264,021 — total, $916,021. Contra : Cost of road, $652,523 ; profit and loss, $263,498 — total, $916,021. The Southern Ry. Co. owns $212,500 of the capi- tal stock and the entire bonded debt. CORPORATE OFFICERS. — A. B. Andrews, Pres. ; H. W. Miller, Sec., Raleigh, N. C. ; H. C. Ansley, Treas., Washington, D. C. LOCKHART RR Lockhart June, to Lock- hart, S. C., 13.81 m. ; total track (steel, 10.65 m.). 14.49 miles. Rail, 50 Ibs. HISTORY. — Chartered Oct. 23, 1899 ; road opened in Dec., 1899. Operated by the Southern Ry. Co., since May 28, 1900, under a lease for 20 years. Equipment and superstructure supplied by the lessees. FINANCIAL STATEMENT. — Capital stock ($100 shares), $25,000. Cost of road, $25,000. CORPORATE OFFICERS. — John C. Cary. Pres. & Treas. ; W. K. Livingston, Sec., Lockhart, S. C. Office, Lockhart, S. C. MOBILE AND BIRMINGHAM RR Mo- bile to Marion June., Ala., 148.55 m. ; total track (steel, 148.55 m.), 169.15 miles. Rail — iron, 61 Ibs. ; steel, 56 and 60 Ibs. HISTORY. — Chartered July 2, 1895, as succes- sor to the Mobile and Birmingham Ry. Co. (See Manual for 1895, page 918.) Leased to the South- ern Ry. Co., for 99 years from March 1, 1890, at a rental equivalent to the interest on the bonds and dividends on the preferred stock, at the rate of 1 p. c. for the first year, 2 p. c. for the second year, 3 p. c. for the third year, and 4 p. c. for the fourth (ending June 30, 1903) and succeeding years. ROLLING STOCK. — Locomotives, 13 ; passen- ger train cars, 12 ; freight cars, 308. FINANCIAL STATEMENT. — Capital stock ($900,000 common, $900,000 preferred ; $100 shares), $1,800,000; funded debt ($600,000 prior lien and $1,200,000 1st gold 5s of July 1, 1945), $1,800,000 — total, representing cost of property, $3,600,000. Capital stock authorized consists of $1,000,000 com- mon stock and $1,000,000 preferred stock. CORPORATE OFFICERS. — Thomas G. Bush. Pres., Birmingham, Ala. ; H. C. Ansley, Treas., Washington, D. C. ; H. Hammond, Sec., Birming- ham, Ala. ; A. H. Plant, Aud., Washington, D. C. R. D. Lankford, Transfer Agt., 80 Broadway, New York, N. Y. NORTH CAROLINA RR Goldsboro', N. C., to Charlotte, N. C., 221.65 m. ; Caraleigh Junction to Caraleigh Mills, 1.9 m. — total, 223.55 m. ; total track (steel, 223.55 m.), 299.45 miles. Rail. 50 to 80 Ibs. HISTORY. — Chartered Jan. 27. 1849; road opened Jan. 30, 1856. Leased to the Southern Ry. Co., for 99 years from Jan. 1, 1896, at a rental (after Jan. 1, 1902) of $280,000 a year. BALANCE SHEET, June 30, 1901 (latest ren- dered).— Capital stock ($100 shares), $4,000,000; current liabilities, $133,008 ; profit and loss, $984,- 579 — total, $5,117,587. Contra : Cost of road, $4,- 975,627 ; securities owned, $5,000 ; cash and cur- rent assets, $136,960 — total, $5,117,687. The State owns $3,000,000 of the stock, and pri- vate stockholders $1,000,000. CORPORATE OFFICERS. — John S. Armstrong, Pres., Wilmington, N. C. ; Spencer B. Adams, Sec. & Treas., Burlington, N. C. Office, Burling- ton, N. C. RICHMOND AND MECKLENBURG RR. — Keysville to Clarksville, Va., 31.30 m. ; total track (steel, 31.30 m.), 33.44 miles. Rail, 56 Ibs. HISTORY. — Chartered Feb. 21, 1880; road opened in 1882-83. Cars — baggage, etc., 1 ; freight (box, 2; flat, 3; coal, 6), 11 — total, 12. Leased to the Southern Ry. Co. for 50 years from Nov. 1, 1898, at a rental equivalent to the interest on the bonds. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $357,900; funded debt (1st gold 4s of Nov. 1, 1948), $315,000; current liabilities, $2,440 — total, $675,340. Contra : Cost of road, etc., $591,382 ; current assets, $2,440 ; profit and loss, $81,518 — total, $675,340. The Southern Ry. Co. owns $300,000 of the capi- tal stock. CORPORATE OFFICERS. — Thomas W. Joyce, Pres. ; W. S. Townsend, Sec. & Treas., New York, N. Y. Office, Clarksville, Va. SOUTHERN RY., CAROLINA DIV Hardeeville to Cayce, S. C., 128.82 m. ; Perry to Sievern, S. C., 7.94 m. ; Charleston, S. C., to Augusta, Ga., 136.91 m. ; Branchville to Columbia, S. C., 67.1 m. ; Kiugville, S. C.. to Marion, N. C., 208.4 m. ; Sumter Junction to Sumter, S. C., 15.81 m. ; Blacksburg to Gaffney, S. C., 10.5 m. ; Alston to Spartanburg, S. C., 68 m. ; Spartanburg Junc- tion, S. C., to Biltmore, N. C., 65.9 m.— total, 709.38 m. ; total track (mpstly steel ; 56 to 75 Ibs.), 844.60 miles. HISTORY. — Consolidation, effective July 1, 1902, of the South Carolina and Georgia RR. Co., the South Carolina and Georgia Extension RR. Co., the Asheville and Spartanburg RR. Co., and the Carolina Midland Ry. Co., all of which were controlled by the Southern Ry. Co. The property of the Sumter and Wateree River RR. Co., in- cluding the line from Sumter Junction to Sum- ter, was acquired by deed dated Dec. 31, 1902. FINANCIAL STATEMENT. — The line from Alston to Spartanburg, S. C., 68 miles, and from Spartanburg Junction, S. C., to Biltmore, N. C., 65.9 miles, is covered by $1,000,000 1st mtge. 4 p. c. gold bonds of the former Spartanburg, Union and Columbia RR. Co., due Jan. 1, 1995. The lines from Charleston, S. C., to Augusta, Ga., 136.91 miles, from Branchville to Columbia, S. C., 67.1 miles, and from Kingville to Camden, S. C., 37.1 miles, are covered by $5,250,000 1st mtge. 5 p. c. gold bonds of the South Carolina and Georgia RR. Co., due May 1, 1919. The line from Blackville to Sievern, S. C., 30 miles, is covered by $9,500 1st mtge. 6 p. c. bonds of the former Blackville, Alston and Newberry RR. Co., due Feb. 15, 1908. The line from Sumter Junction to Sumter, S. C., 15.81 miles, is covered by $100,000 1st mtge. 6 p. c. bonds of the Sumter and Wateree River RR. Co., due April 1, 1919. On July 1. 1902, the company made a mortgage, covering its en- tire property to secure an Issue of 50-year 4 p. c. gold bonds for an amount not exceeding $18,000,- 000. Of these bonds, $5,000,000 have been issued to the Southern Ry. Co. to reimburse it for cash outlays in the previous purchase of the proper- ties covered by the mortgage ; $6,359,500 are re- served to retire, at or before their maturity, the outstanding bonds of the Spartanburg, Union and Columbia RR. Co., South Carolina and Georgia RR. Co., Blackville, Alston and Newberry RR. Co., and Sumter and Wateree River RR. Co., as above, and tha remaining bonds are to be used, under specified restrictions, in providing for im- provements, equipment, and extensions, $4,000,000 thereof being specifically reserved for the con- struction or acquisition of a northwestern exten- 260 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC sion into and through the States of South Caro- lina. North Carolina. Virginia, Tennessee, and Kentucky. All the capita) stock of the company is owned by the Southern Ry. Co. CORPORATE OFFICERS. — A. B. Andrews, Pres. ; H. W. Miller, Sec., Raleigh, N. C. ; H. C. Ansley, Treas.; A. H. Plant, Aud., Washington, D. C. Office, Raleigh, N. C. STATE UNIVERSITY RR. — University to Chapel Hill, N. C., 10.20 m. ; total track (steel, 7.60 m.), 10.86 miles. Rail, 56 Ibs. HISTORY. — Chartered April 12, 1879; road opened about Jan. 1, 1882. Controlled by the Southern Ry. Co., through ownership of $16,- 800 of the capital stock. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $31,300; current accounts. $100,9"; — total, $132,237. Contra: Cost of road, $31,660 ; profit and loss, $100,577 — total, $132,237. CORPORATE OFFICERS. — A. 1J. Andrews, Pres. ; H. W. Miller, Sec., Raleigh, N. C. ; H. C. Ansley, Treas. ; A. H. Plant, Aud., Washing- ton, D. C. Office, Raleigh, N. C. YADKIN RR Salisbury to Norwood, N. C., 41 miles. BALANCE SHEET, June 30, 1902. — Capital stock $625,000; funded debt, $615,000; current lia- bilities, $500,452 — total, $1,740,452. Contra: Cost of road, $1,254,894 ; profit and loss, $485,558 — to- tal, $1,740,452. The Southern Ry. Co. owns $462,750 of the capi- tal stock and the entire funded debt. CORPORATE OFFICERS. — A. B. Andrews, Pres. ; H. W. Miller, Sec., Raleigh, N. C. ; H. C. Ansley, Treas., Washington, D. C. 23. OPERATED BY THE SOUTHERN RY. Co. UNDER AGREEMENT. ROSWELL, RR. — Chamblee to Roswell, Ga., 9.80m. Gauge, 3 ft. Rail (steel, 0.42 m.), 60 Ibs. HISTORY. — Chartered Apr. 10, 1863, road opened Sept. 1, 1881. The company has an agreement with the A. & C. A.-L. Ry. whereby it is allowed 25 p. c. of gross revenue accruing to the A. & C. A.-L. on traffic interchanged ; this amount being applicable only toward payment of coupons or the purchase and redemption of the bonds. The coupons and bonds thus purchased become the property of the A. & C. A.-L. The operations of the road are included in the accounts of the Southern Ry. Co. ROLLING STOCK. — Locomotive, 1 ; passenger car, 1 ; freight cars, 6. BALANCE SHEET, June 30, 1902. — Capital stock, $40,000; funded debt (1st 7s of July 1, 1900), $35,000; other liabilities, $17,055 — total, $92,055. Contra : Cost of road, etc., $81,296 ; bonds in hands of trustees, $2,500 ; current accounts. $6,986 ; profit and loss, $1,273 — total, $92,055. The Southern Ry. Co. owns $20,100 of the capi- tal stock. CORPORATE OFFICERS. — A. B. Andrews, Pres. ; H. W. Miller, Sec., Raleigh, N. C. ; H. C. Ansley, Treas. ; A. H. Plant, Aud., Washington, D. C. Ofiice, Richmond, Va. 24. Board of Directors, Southern Ry. Co., elected October 16, 1902. First Class— Till Oct., 1903. Alex. B. Andrews.Raleigh, N. C. Joseph Bryan . . Richmond, Va. Sam'l. M. Inman.. Atlanta, Ga. R. M. Gallaway.New York.N. Y. Second Class — Till Oct., 1904. Adr. Iselin, Jr. New York, N. Y. Charles Lanier.. E. D. Randolph J. T. Woodward Third Class — Till Oct., 1905. H.C.Fahnestock. NewYork.N.Y. W. W. Finley, Washington.D.C. Sam'l. Spencer.. New York, N.Y. Charles Steele " SAMUEL SPENCER, President ......... ... 80 Broadway, New York, N. Y. A. B. Andrews, 1st V ice-President .................... Raleigh, N. C. W. W. Finley, 2d Vice-President ................... Washington, D. C. 3d Vice-President . John M. Gulp, 4th Vice- President C. H. Ackert, Gen. Mgr. (except of St. L.-Louisv. Lines) . . " Henry B. Spencer, Gen. Mgr., St. Louis- Louisville Lines . . St. Louis, Mo. Gfe«. Counsel. — Francis L. Stetson, New York.N.Y. I Treasurer. — H. C. Ansley Washington, D. C. Secretary. — R. D. Lankford " " I Auditor. — A. H. Plant PRINCIPAL OFFICE AND ADDRESS Richmond Yu. Operating Office 1300 Pennsylvania Ave., Washington, D. C. Executive Office 80 Broadway, New York, N. Y. RAILROADS CONTROLLED BY THE SOUTHERN RY. CO., BUT OPERATED INDEPENDENTLY. AUGUSTA SOUTHERN BE,.— Augusta to Tennille, Ga., 82.5 m.; total track (steel; 56 Ibs.), 87.64 miles. Gauge, 4 ft. 9 in. History. — Reorganization, April 4, 1893, of the Augusta, Gibson and Sandersville RR. Co. (see MANUAL for 1899, page 463). Leased in perpetuity, March 1, 1897, to the South Carolina and Georgia RR. Co. (sec MANUAL for 1901, page 384). The road was operated by the Southern Ry. Co., under the lease of the South Carolina and Georgia RR., from May 1, 1899, to April 25, 1901, but on the latter date the lease of this road to the South Carolina and Georgia RR. Co. was annulled and the property was surrendered to the Augusta Southern RR. Co. Financial Statement. — Capital stock (common, $400,000; preferred, 7 p. c. non- cumulative, $350,000), $750,000. The Southern Ry. Co. owns a majority of the capital stock. Funded debt ( 1st gold 5s of Dec. 1, 1924) , $400,000. POOR'S MANUAL SOUTHERN RY. SYSTEM. 261 Officers.— H. McWHORTER, Pres., Atlanta, Ga.; W. W. Finley, Vice-Pres.; C. H. Ackert, Gen. Mgr.; A. H. Plant, Aud.; H. C. Ansley, Trees., Washington, D. C. GENERAL OFFICE, Augusta, Ga. BLUE RIDGE BY.— Owned: Anderson to Walhalla, S. C., 34.02 m.; total track (steel, 34.02 m.), 37.35 miles. Leased: Southern Ry., Anderson to Belton, S. C., 9.98 m.;. total track (steel, 10.44 m.), 10.94 miles. Gauge, 4 ft. 9 in. Rail, 50 and 56 Ibs. History. — Chartered in 1852, as Blue Ridge RR. Co. in South Carolina; road opened in 1861. The State of South Carolina supplied the principal means for constructing the road, the cost of the work, including the unfinished sections west of Walhalla, being about $2,100,000. The company is controlled by the Southern Ry. Co. through ownership of its stock and its bonds. The Anderson Branch is leased from the Southern Ry. Co., the lease being terminable on thirty days' notice. Rolling Stock, June 30, 1902.— Locomotives, 3. Cars— passenger, 2; combination, 3; baggage, mail and express, 1 — total, 6. Operations, 9 months ending June 30, 1902.— Trains run (passenger, 25,181; mixed, 21,300), 46,481 miles. Passengers carried, 42,042; carried one mile, 589,023. Tons freight moved, 71,348; ton-miles, 1,138,435. Earnings (passenger, $16,518; freight, $42,815^ other, $4,004), $63,337. Operating expenses, $52,786. Net earnings, $10,551. Payments: Interest on bonds, $5,000; taxes, $1,941 — total, $6,941. Surplus, $3,610. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $100,000; funded debt (1st gold 5s of 1951), $100,000; current liabilities, $31,655; taxes accrued, not due, $1,154; other liabilities, $17,591 ; profit and loss, $3,610 — total, $254,010. Contra: Cost of road and equipment, $211,600; leased equipment, $6,100; cash and current assets, $30,252 ; other assets, $6,058 — total, $254,010. Directors. — H. C. Beattie, Greenville, S. C.; A. B. Andrews, H. W. Miller, Raleigh, S. C.; B. L. Abney, Columbia, S. C. ; Fairfax Harrison, Washington, D. C. OFFICERS: H. C. BEATTIE, Pres., Greenville, S. C.; H. W. Miller, Sec., Raleigh, N. C.; A. H. Plant, Aud.; H. C. Ansley, Treas., Washington, D. C. GENERAL OFFICE, Anderson, S. C. DANVILLE AND WESTERN RY.— Owned: Stokesland, Va., to Stuart (Pat- rick C. H.), Va., 70 m. ; Leaksville June, to Leaksville, N. C., 8 m. — total, 78 m. ; total track (steel, 71 m.), 80 miles. Trackage Rights: Southern Ry., Danville to Stokesland, Va., 5 miles. Total operated, 83 miles. Gauges, 3 ft. and 4 ft. 8^ in. Rail — iron, 35 Ibs.; steel, 53 Ibs. History.— Reorganization, Jan. 14, 1891, of the Danville and New River RR. Co. The Danville, Mocksville and Southwestern RR. Co. was absorbed on March 1, 1899. (See MANUAL for 1899, page 461.) The line from Danville to Martinsville, 43 miles, was widened to the standard gauge in March 1902. Rolling Stock, June 30, 1902. — Locomotives, 8. Cars — passenger, 11; baggage, etc., 3; freight (box, 29; stock, 3; flat, 21), 53; service, 5 — total, 72. One locomotive and two box cars have been added since June 30, 1902. Operations, year ending June 30, 1902.— Trains run (passenger, 41,515; freight, 124,543; other, 16,516), 182,574 miles. Passengers carried, 41,589; carried one mile, 1,206,081. Tons moved, 56,272; ton-miles, 1,913,248. Earnings (passenger, $29,180; freight, $99,653; other, $8,377), $137,210. Operating expenses, $82,483. Net earnings, $54,727. Payments: Interest on bonds, $52,600; on floating debt, $888; taxes, $5,176; other charges, $43,878 — total, $102,542. Deficit, $47,815; deficit forward, $443,732; sun- dry deductions during year, $600 — total deficit, $492,147. Balance Sheet, June 30, 1902.— Capital stock paid in ($2,000,000 auth.; $100 shares), $368,600; funded debt (1st 5s of Oct. 1, 1936), $1,052,000; loans and bills payable, $31,462; current liabilities, $9,372; accrued interest, $533,600— total, $2,025,034. Contra: Cost of property, $1,512,876; materials, etc., $1,037; cash, $14,514; current assets, $4,460; profit and loss, $492,147— total, $2,025,034. All the stock, and practically all the bonds, are owned by the Southern Ry. Co. Directors.— A. B. Andrews, Raleigh, N. C.; J. H. Rangeley, Stuart, Va.; D. W. Spencer, Spencer, Va. ; H. C. Lester, J. D. Sparrow, W. G. Lee, Martinsville, Va. ; R. L. Dibbrell, J. G. Penn, R. A. Schoolfield, Danville, Va. OFFICERS: A. B. ANDREWS, Pres. ; H. W. Miller, Sec., Raleigh, N. C.; J. A. White, Treas. & Gen. Supt.; J. M. Featherstou, Aud., Danville, Va. GENERAL OFFICE, Danville, Va. HARTWELL RY.— Hartwell to Bowersville, Ga., 10 miles. Rail (iron), 30 Ibs. Gauge. :: ft. Reorganization, in Feb., 1898, of the Hartwell RR. Co. (See MANUAL for ISO!), page 461). Locomotives, 2. Cars — combination, 2; freight (box, 8; flat, 4), 12 — total, 14. The property is operated by T. J. Linder, of Hartwell, Ga., for a fixed rental, 262 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. under, a lease running 10 years from Feb. 19, 1898. Rental, year ending June 30, 1902, $2,000. Paid interest on bonds, $1,000; dividends on stock (5 p. c.), $1,000 — total, $2,000. Balance Sheet, June 30, 1902.— Capital stock, $20,000; funded debt (1st gold 5s of March 1, 1928), $20,000; accrued interest, $333; profit and loss, $334 — total, $40,607. Contra: Cost of road, $40,000; current accounts, $667 — total. $40,667. The stock and the bonds are owned by the Southern Ry. Co. Directors.— E. B. Benson, A. G. McCurry, Hartwell, Ga; AV. F. Bowers, Bowers- ville, Ga. ; A. B. Andrews, Raleigh, N. C.; J. S. B. Thompson, Atlanta, Ga. OFFICERS: A. B. ANDREWS, Pres.; H. W. Miller, Sec., Raleigh, N. C.; H. C. Ansley, Treas., A. H. Plant, Awl., Washington, D. C. GENERAL OFFICE, Raleigh, N. C. NORTHERN ALABAMA RY. -Sheffield to Parrish, Ala., 95.56 m.; Riverton to Riverton June., Ala., 11 m. ; various branches to mines, 8.03 m. — total, 114.59 *n. ; total track (steel, 128.56 m.), 136.29 miles. Gauge, 4 ft. 9 in. Rail, 56 and 75 Ibs. History. — Successor, Dec. 1, 1895, to the Birmingham, Sheffield and Tennessee River Ry. Co., whose property was sold under foreclosure, Sept. 16, 1895. ( S< „• MANUAL for 1895, page 216.) In May, 1899, the Southern Ry. Co. acquired a controlling interest in this company. Rolling Stock, June 30, 1902. — Locomotives, 10. Cars — passenger, 3; baggage, etc., 2; freight (box, 21; flat, 28; coke, 54; coal, 354), 457; service, 26 — total cars, 488. The box cars are leased. Operations, year ending June 30, 1902. — Gross earnings (passenger, $48,383; freight, $356,505; other, $3,273), $408,161. Operating expenses, $350,472. Net earnings. $57,689. General Balance Sheet, June 30, 1902.— Capital stock paid in ($3,000,000 auth.; $100 shares), $2,000,000; funded debt, $1,650,000; equipment notes, $9,639; current li;i- bilities, $104,395; reserve for replacement of equipment, $50,697; reserve for maintenance of way and structures, $31,806; profit and loss, $21,018— total, $3,867,555. Contra: Cost of road and equipment, $3,725,533; other investments, $1,386; real estate, $553; ma- terials, etc., $35,472; cash and current assets, $104,611 — total, $3,867,555. Funded Debt. — The funded debt consists of 1st 5s of Jan. 1, 1926. Under a supple- mentary mortgage made in 1898, $400,000 of the bonds were made prior in lien to the rest of the issue. Directors (elected Nov. 26, 1902).— A. B. Andrews, Raleigh, N. C.; Samuel Spencer, R. D. Lankford, W. S. Townsend, New York, N. Y.; J. C. Maben, G. B. McCormack, Birmingham, Ala.; R. T. Simpson, Florence, Ala. OFFICERS: SAMUEL SPENCER, Pres., New York, N. Y.; A. B. Andrews, 1st Vice-Pres., Raleigh, N. C.; W. W. Finley, 2d Vice- Pres.; J. M. Gulp, 4tfc Vice-Pres.; C. H. Ackert, Gen. Mgr., Washington, D. C.; R. D Lankford, Sec., New York, N. Y.; H. C. Ansley, Treas.; A. H. Plant, Aud., Washington, D. C. GENERAL OFFICE, 80 Broadway, New York, N. Y. ST. JOHNS RIVER TERMINAL CO.— Jacksonville to Grand Crossing, Fla., 6.39 m.; total track (steel; — Ibs.), 17.36 miles. Organized as of July 1, 1902, and acquired the railroad mileage as above, together with wharves, terminal facilities, etc., from the Atlantic, Valdosta and Western Ry. Co. Controlled by the Southern Ry. Co., through ownership of entire capital stock. Financial Statement, March 31, 1903,— Capital stock, $100,000. Funded debt: $1.000,000 1st gold 4s of 1952, interest Jan. and July, in Washington, D. C. Directors. — Not reported. OFFICKKK: E. C. LONG, Pres., Jacksonville, Fla.; H. C. Ansley, Trras., Washington, D. C.; W. S. Townsend, Sec., New York, N. Y. GENERAL OFFICE, Jacksonville, Fla. ALABAMA GREAT SOUTHERN RAILWAY COMPANY, Limited. (Controlled by Southern By. Co.) History.— This is an English corporation, registered in London in Sept., 1877, to acquire and operate the Alabama Great Southern RR. The Alabama Great Southern RR. Co., an American corporation, represents the company in America, in order to comply with the local State law. The Southern Ry. Co. owns a majority of each class of this company's capital stock. Revenue Account (English Co.), year ending June 30, 1902. — Received from Ameri- can corporation — interest on debentures, £8,040; expenses and income tax (contra), POOR'S MANUAL OP RAILROADS. 263 £0,354 15s. 4d. ; dividend on preference shares, less income tax (received, £31,775 5s. 8d. ; receivable, £31,690 15s. 8d.), £63,466 Is. 4d.— total, £77,860 16s. Sd. Payments: Interest on debentures, £8,040; expenses (directors' and auditors' fees, £852 10s. ; salaries, rents, etc., £1,625 19s. 9d. ; depreciation of office furniture, £10 — total, £2,488 9s. 9d., less transfer fees and interest on deposit at bankers, £36 11s. 3d.), £2,451 18s. 6d. ; income tax, £3,902 16s. lOd. ; balance, applied to dividend on the 6 p. c. "A" preference shares, £63,466 Is. 4d.— total, £77,860 16s. 8d. General Balance Sheet (A. Gt. 8. Ry. Co.), June 30, 1902. Stock American Co. Owned: £ ». d. Ordinary £1,565,890 Preference $76070—2,241,960 0 0 Proceeds Sale Amer. Co. Shares 110 0 0 Debentures Am. Co. held by this Co 137,015 0 0 American Co. General Account 1,513 5 4 Office Furniture and Fittings 65 0 0 Cash on Hand and in Bank 3,501 8 0 Shares ($833,000 nominal) Southwestern Construction Co 166,660 0 0 Revenue Account, for Dividend on Preference Shares 31,690 15 8 Total Assets £2,582,515 9 0 Nominal Capital (£10 per share) : £ Ordinary £1,566,000 Preference 800,000—2,366,000 Less Pref . Sh. Unissued. .... 123,930—2,242,070 Debenture Bonds 134,000 Accrued Interest to Date 3,015— 137,015 «. d. 0 0 Sundry Creditors 3,732 5 8 Dividends and Debenture Interest Unpaid. . . . 1,347 7 8 American Co. Joint Account, for Shares Southwestern Construction Co. 166,660 0 0 Revenue Account (Contra ) 31,690 15 8 Total Liabilities. .. ...£2,582,515 9 0 Funded Debt. — The debentures are for £100 each, Issued In Aug., 1886, due Aug. 16, 1906 ; Interest 6 p. c. gold, payable in London, Feb. 15 and Aug. 15. They are exchangeable for any mort- gage bonds issued after them. Directors. — H. Doughty Browne, Augustus B. Abraham, E. A. Bonnor-Maurice, John Douglas, Baron Emile B. D'Erlanger, Daniel Marks, W. M. Scrivener, London, Eng. ; Samuel Spencer, Francis Lynde Stetson, New York, N. Y. H. DOUGHTY BROWNE, Chairman of the Board London, Eng. Auditors — Price, Waterhouse & Co... London.Eng. I Secretary — B. R. Tomlinson London, Eng. OFFICE AND ADDRESS Princes St. Chambers, 2 Princes St., London, Eng. ALABAMA GREAT SOUTHERN RAILROAD COMPANY. (Controlled by Southern Sy. Co.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 8 Directors and Officers 13 Earnings, Expenses, etc 6 Funded Arrears of Dividend 10 Funded Debt, Descriptfon of 9 Gen. Bal. Sheet, June 30, 1902 6 Gen. Bal. Sheet, 1896-1902 11 History 3 Income Acct, June 30, 1902. . 6 Investments 7 Mileage Operated June 30,1902 1 Operations and Inc., 1896-1902. 11 Rolling Stock 4 Subsid. Lines, Statements of 12 Trackage Rights 2 1 . Line of Road Owned.— Wauhatchie, Tenn., to Meridian, Miss 290.49 miles. PROPRIETARY ROAD: Gadsden d Attalla RR.: Gadsden to Attalla, Ala 5.90 " LINES USED UNDER TRACKAGE CONTRACTS (see Sec. 2) 13.02 " LEASED ROAD: Belt By. of Chattanooga: In and around Chattanooga, Tenn.. 24.04 " Total length of all lines operated, June 30, 1902 333.45 miles. Ridings and spurs (owned, 78.39 m. ; leased, 18.90 m.), 99.27 m.; total track (owned, 374.78 m.; leased, 42.94 m.) 417.72 miles. Gauge, 4 ft. Sy2 in. Rail— iron, 56 Ibs.; steel (290.49 m.), 60 and 75 Ibs. * 2. Trackage Rights.— These consist of 5.01 m. of the N., C. & St. L. Ry., from Chattanooga to Wauhatchie, Tenn., and 8.01 m. of the Tenn. C. I. & RR. Co.'s line, from Woodstock to Blocton, Ala. Sidings and spurs used under trackage agreements, 21.53 miles. •5. History. — Organized Nov. 30, 1877, to take over the property of the Alabama and Chattanooga RR. Co., sold under foreclosure Jan. 22, 1877. The Gadsden and Attalla RR. was acquired on April 22, 1892, by purchase of its stock and bonds. This company controls the Belt Ry. Co., of Chattanooga, and leases that company's road for 50 years from July 1, 1895, at a maximum annual rental of $15,960. *• Rolling Stock, June 30, 1902. — Locomotives, 47. Cars — passenger, 28; combi- M4 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. nation, 1; caf£ and parlor car, 1; baggage and mail, 14; freight (box, 479; flat, 256; stock, 15; coal, 1,343; dump, 116; fruit, 1,260; caboose, 18), 3,487; other, 30— total, 3,561. Of this equipment, 12 locomotives and 250 box cars are held under equipment trusts. 5. General Income Account, year ending June 30, 1902. EARNING*. PaMenger 1900-01 1901-02 $512,27923 $611,68715 Freutht. . 1,428.41899 1,598,31528 Mail and ExpKM 100.789 35 109,455 44 167.25121 167.99585 Totals .. $2,198,73878 $2,487,45372 Averam wr Mile. . . . 7.KX123 8,03934 EXPENSES. Maint. of Way and Structural. . . . Maintenance of Equipment Conducting Transportation General and Taxes 1900-01 1901-02 $293,081 24 $378,279 .56 421,24592 438.25600 681.78091 788.21607 157,022 66 169,458 56 Totals $1.553,13073 $1,774.21019 Averages per Mile 5,01965 5.73417 Net earnings, 1901-02 (28.67 p. c.), $713,243.53; add interest on bonds Belt Ry. of Chattanooga, $8,869.20; interest and commission, $2,694.49— total, $724,807.22. Deduc- tions: Interest on 1st mtge. bonds, $104,940; on debentures, $39,074.40; on gen. mtge. bonds, $127.818; rental (int. on 1st. mtge. bonds) Belt. Ry., $13,750; on 2d mtge. bonds Belt Ry., $960; expenses of English Co., $11,916.36; English income tax, $18,967.81; ex- change account, $1,547.92; dividends (6 p. c.) on preference stock, $185,436.69 — total, $504,411.18. Surplus for year, $220,396.04. Profit and LOSS Account, year ending June 30, 1902.— Balance, June 30, 1901, $673,993.97; income balance June 30, 1902, $220,396.04; premium on sale C., N. O. & T. P. Ry. pref. stock, $16,165.97 — total, $910,555.98. Contra: Dividends 4 p. c. on preferred stock (less income tax), on account of unfunded arrears, $123,692.91. Balance June 30, 1902, $786,863.07. 5a. Earnings and Expenses, Supplementary Statement, year ending June 30, 1903, and comparison with year ending June 30, 1902. — Gross earnings — 1903, $2,749,- 818.41; 1902, $2,487,453.72; increase, $262,364.69. Expenses and taxes— 1903, $2,064,- 802.51; 1902, $1,774,210.19; increase, $290,592.32. Net earnings— 1903, $685,015.90; 1902, $713,243.53; decrease, $28,227.63. ' rfc*** fT^/^cTTT/cr w ffTTTT^rr^i' 6. General Balance Sheet, June 30, 1902. Cost of Property $15,162,480 86 Investments 1,313,08592 Car Trust Equipment 156,609 17 Arrears of Dividend Suspense 258,83267 Stock of Material on Hand 180,53076 Insurance Funds in Hands of Trustees 4,72293 Reserve for Deferred Renewals 415,000 00 Sundry Accounts 4,42500 Current Assets 386,578 17 Cash on Hand and In Transit 369,838 50 Total Assets $18,252,10398 Ordinary Shares $7,830,00000 Preference Shares $4,000,000 00 Less Unissued 619,650 00—3,380,350 00 Funded Debt Outstanding 4,976,36000 Car Trust Notes 156,60917 Funded Arrears of Dividend 258,83267 Interest Accrued but not Due 25,304 40 Current Liabilities, inc. July Interest 316,156 97 Reserve for Taxes Accrued, not Due. 39,65082 Other Reserve Funds 173,194 24 Replacement of Rolling Stock Fund.. 308,78264 Profit and Loss 786,863 07 Total Liabilities $18,252,103 98 7. Investments. — The Item " investments " in above balance sheet consists of $833,300 stock of the Southwestern Construction Co. ; $315,233.63 bonds and stock of the Beit Ry. Co. of Chattanooga; $15,000 stock and $100,000 bonds (par, $100,000) of the Oadsden and Attalla RR. Co. ; $1,000 1st mtge. bonds of the company, and $63,552.29 miscellaneous investments — total. $1,313,085.92. 8. Capital Stock. — The entire capital stock is owned by the Alabama Great Southern Ry. Co., Limited, an English corporation, a statement for which follows. ». Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of $1,750,000 1st gold 68 of Jan. 1, 1908; $670,000 debenture 6s of Aug. 15. 1906, and £526,000 ($2,556,360) gen. 5s of Dec. 1, 1927. The mortgage bonds are secured on the entire property of the company. The debentures are all held by the Alabama Great Southern Ry. Co., Limited, of London. The au- thorized issue of gen. mtge. bonds is £1,160,000 equivalent to $5,637,600. Of the £634,000 unissued, bonds amounting to £484,000 are held in trust for the retirement of the 1st mtge. bonds and the debentures. 1O. Fnnded Arrears of Dividend. — In 1888 power was obtained to offer holders the option of funding their arrears of dividends on 65,548 shares of preference stock, and a total of £81,- 935 of dividend certificates were issued for that purpose, of which 35 p. c., or £28,677 5s., were re- deemed In 1890 and 1891, leaving £53,257 15s. outstanding. These funded certificates bear 4 p. c. Interest, and are to be redeemed by the appropriation of equal annual sums (payable only out of the surplus net earnings, If any, remaining alter payment of the accrued dividends on the preference POOH S MANUAL — ALABAMA GREAT SOUTHERN RR. CO. 265 shares and the interest on the certificates) sufficient to discharge the whole amount of the certificates within a period of 10 years from Jan. 1, 1888. The certificates are registered in holders' names, and are transferable by deed in any amount. 11. Statement showing operations, earnings, etc., for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 309.86 309.86 309.86 309.86 309.41 309.41 30941 443,745 442,689 429,979 461,428 429,111 479,120 648 914 Freight Train Mileage 666,604 618,267 698,295 733,431 630,706 561,874 674,549 243,765 197,328 202,869 241,733 279,047 303,233 361 241 16,289,939 13,064,040 14,082,480 • 17,451,439 18,909,559 21,334,343 25,761,967 1,226,727 1,022,585 1,132,475 1,166,747 1,425,970 1,462,875 1 719 836 Freight (ton) Miles 164,929,090 $ 1,634,093 152,053,424 $ 1,605,546 171,603,979 1 1,741,934 176,003,005 $ 1,816,523 201,576,235 S 2,092,448 200,175,197 $ 2,198,739 221,245,845 $ 2 487 453 1,133,212 1,103,041 1,182,904 1,246,185 1,455,824 1,553,131 1,774 210 500,881 502,505 559,030 570,338 636,624 645,608 713 243 5,911 5,511 7,358 7,080 11,821 13389 11 564 Available Revenue 506,792 508,016 566,388 577,418 648,445 658,997 724,807 261,310 271,884 271,862 271,832 271,832 271832 271 832 Rentil Belt Ry 4,125 8,250 11,000 11,000 13,750 13,750 14 710 17,018 17,960 17,587 19,412 22,712 27,249 32432 190,570 190,570 190,570 190,570 189,955 249,405 185437 + 33,769 -f 19,352 -f- 75,369 + 84,604 -1- 150,196 + 96 761 + 220 396 5,273 65 5,181 52 5,621 68 5,862 40 6,752 88 7,10623 8 039 34 1,61648 1,621 71 1,80414 1,84063 2,054 55 2,086 58 230517 Expenses to Earnings Aver Rate per Pass, per Mile 69.35 p.e. 2.29 c. 68.70 p.c. 2.55 c. 67.91 p.c. 2.34 c. 68.60 p.c. 2.28 c. 69.58 p.c. 2.35 c. 70.64 p.c. 2.40 c. 71.33 p.c. 237c 0.64 c. 0.67 c. 0.66 c. 0.66 c. 069c 071c 072c $ 7,830,000 $ 7,830,000 S 7,830,000 $ 7,830,000 $ 7,830,000 S 7,830,000 S 7830000 3,380,350 3,380,350 3,380,350 3,380,350 3,380,350 3,380,350 3380350 Total Stock 11,210,350 11,210,350 11,210,350 11,210,350 11,210,350 11,210,350 11,210,350 Funded Debt 4,976,360 4,976,360 4,976,360 4,976,360 4,976,360 4,976 360 4 976 360 46,565 138,687 174,766 172711 156609 324,718 371,078 494,755 524,060 552,515 541 783 600294 295,724 278,822 211,820 271,279 343,538 438,016 521 628 Profit and Loss 350,733 365,084 352,107 431,710 578,805 673,994 ;786 863 Total Liabilities 17,204,450 17,201,694 17,245,392 17,552,446 17,836,334 18 013 214 18 252 104 15,216,992 15,246,877 14,952,751 *15,148,494 *15215035 *15 334 472 *15 319 089 1,410,108 1,415,234 1,249,534 1,249,534 1,252,635 1 252 586 1 313 086 Materials and Supplies 80,557 98,151 116,085 92,016 180403 114 953 180531 Cash and Other Assets 496,793 441,432 927,022 1,062,402 1,188,261 1 311 203 1 439 398 Total Asset* 17,204,450 17,201,694 17,245,392 17,552,446 17,836,334 18,013,214 18 252 104 •Including car trust equipment — in 1899, $136,687 ; in 1902, $156,609. in 1900, $174,766 ; In 1901, $172,711 ; . SUBSIDIARY LINES OF THE ALABAMA GREAT SOUTHERN RR. Co. BELT RY. OF CHATTANOOGA. — In and around Chattanooga, Tenn., 24.04 m. ; total track, 42.94 miles. Rail (steel, 33.86 m.), 56 Ibs. HISTORY. — Reorganization, Sept. 28, 1895, of the Chattanooga Union Ry. Co., whose property was sold under foreclosure on July 17, 1895. (See Manual for 1895.) Leased for 50 years from July 1, 1895, to the Alabama Great Southern RR. Co., .at an annual rental guaranteed to equal interest on the bonds issued. FINANCIAL STATEMENT. — Capital stock ($100 shares), $300,000; funded debt, $324,000 — total, $624,000. Contra : Cost of road, etc., $599,- 000 ; bonds owned, $25,000 — total, $624,000. Funded debt, consists of $300,000 1st mtge. 5 p. c. gold bonds, due July 1, 1945, but redeemable at par afttr July 1, 1903 ; also, $24,000 2d mtge. 4 p. c. gold bonds, due July 1, 1945, but redeemable at par after July 1, 1903, Interest only if earned, till July 1, 1903, and thereafter to become a fixed charge. CORPORATE OFFICERS. — H. S. Chamberlain, Pres., Chattanooga, Tenn. ; R. D. Lankford, Sec., New York, N. Y. ; H. C. Ansley, Treas., Wash- ington, D. C. Office, Chattanooga, Tenn. GADSDEN AND ATTAL.L.A RR Gadsden to Attalla, Ala., 5.90 m. ; total track, 6.69 miles. HISTORY. — Chartered Nov. 19, 1886. Pur- chased by the Alabama Great Southern RR. Co. on April 22, 1892, and operated as a branch of that company's railroad. FINANCIAL STATEMENT.— Capital stock. $15,000 ; bonded debt, $100,000 — total, $115,000, all owned by the Ala. Gt. So. RR. Co. CORPORATE OFFICER. — R. B. Kyle, Pres., Gadsden, Ala. POOR'S MANUAL OF RAILROADS SOUTH ATLANTIC GROUP. 13. Board of Director*, A. Qt. B. RR. Co., elected October 1, 1902. S. M. Felton Cblcago, 111. C. C. Harvey. . New Orleans, La. R. D. Lankford.New York, N.Y. Sam'!. Spencer... New York.N.Y. I W. C. Lane... New York. N. Y. Francis L. Stetson " Charles Steele W O Oakman " " I A. B. Andrews. ..Raleigh, N. C. H. Doughty Browne London, Bng. | W. W. Flnley Washington, D. C. SAMUEL SPENCEB, President New York, N. Y. A. B. Andrews, 1st Vice- President Raleigh, N. C. 2d Vice-Pro. — W. W. Finley. .Washington. D. C. 3d Vice-Pres. — W. J. Murphy Cincinnati, O. Secretary — R. D. Lankford New York, N. Y. Treasurer — H. C. Ansley Washington, D. C. As»t. Treat. — Chas. Patton Cincinnati, O. Auditor— M. F. Molloy PRINCIPAL OFFICE Birmingham, N. C. Executive Office 80 Broadway, New York, N. Y. Operating Office Cincinnati, O. MOBILE AND OHIO RAILROAD COMPANY. (Controlled by the Southern By. Co.) (For map of this road, see page 267.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Balance Sheet, 1896-1902 8 Capital Stock 11 Car Trusts 15 Directors and Officers 22 Earnings, Expenses, etc 7 Equipment Bonds 6a Funded Debt, Description of 13 Gen. Bal.Sheet, June 30, 1902 10 Guaranties 14 History 3 Income Acct., June 30, 1902... 7 Income Acct, 1896-1902 8 Int. In St. Louis & Cairo RR. 4 Joint Trackage 2 Land Department 19 Leased Line, Statement of. 20 Mileage Oper'd, June 30, 1902 1 Operations and Inc., 1896-1902. 8 Owned Railroad, Statem't of 21 Profit and Loss, June 30, 1902 9 Rolling Stock 6 Secur. in Hands of Trustees 17 Securities in Treasury 16 Secur. Owned June 30,1902.. 18 Voting Authority 12 1. Mileage Operated, June 30, 1902. — A. LINES OWNED (total, 715.5 miles). tin Line: Mobile, Ala., to Columbus, Ky 472.0 miles. Cairo Extension: South Columbus, Ky., to East Cairo, Ky 21.0 Columbus Branch : Artesia, Miss., to Columbus, Miss 14.0 Starkville Branch : Artesia, Miss., to Starkville, Miss 11.0 Aberdeen Branch : Muldon. Miss., to Aberdeen, Miss 9.0 Montgomery Division: Columbus, Miss., to Montgomery, Ala 167.2 " Warrior Branch : Tuscaloosa, Ala., to Warrior Coal Fields 9.5 " Blocton Branch: Eoline, Ala., to Cahaba Coal Fields 11.8 " B. LEASED LINE: 8t. Louis d Cairo RR.: Cairo to E. St. L., 111., and branch. 158.6 " Total length of lines owned and leased, June 30, 1902 874.1 miles. Gauge, 4 ft. 8»/2 in. Rail, 56, 60, 70 and 75 Ibs. lat Statement of track mileage and of mileage laid with steel rails, June 30, 1902: MAIN LINE BRANCHES TOTAI- Total Track Steel Rail Main Track Side Track Main Track Side Track Main Track Side Track Mobile A Ohio RR. Proper. ... Mile*. 493.00 167.19 151.60 Xilet. 131.40 26.14 66.27 Miles. 34.00 21.33 7.00 Miles. 10.99 5.58 1.45 Miles. 527.00 188.52 158.60 Miles. 142.39 31.72 57.72 Milfs. 669.39 220.24 216.32 Miles. 621.89 220.24 216.32 St. Louis & Cairo RR Totals. 811.79 213.81 62.33 18.02 874.12 231.83 1,105.95 1,058.45 2. Joint Trackage. —The single track railroads of this company and of the Illinois Central RR. Co. parallel each other from the end of the Cairo Bridge southward for 6 miles. Under an arrangement made in Aug., 1899, these tracks are used jointly by the two companies as a double track railroad. Under an arrangement made earlier in the same year this company secured joint use of the Illinois Central bridge and approaches at >• > OF THE' » \ *$$> *$+ **3 MOBILE & OHIO K. K. \ JLSD CONNECTIONS. \ 268 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. Cairo. Through a trackage arrangement with the Alabama Midland Ry. Co. this company is enabled to reach its terminal grounds in the heart of the city of Montgomery and also to jointly use a Belt Line, connecting with the other lines entering the city, and reaching the most important manufacturing industries in Montgomery. The company's passenger trains enter the union depot of the Louisville and Nashville RR. Co. in Montgomery, af- fording an interchange of passenger traffic with other lines. 3. History. —Chartered on Feb. 3, 1848. Land grant acquired under Act of Con- gress, Sept. 20, 1850. The first section of the road, 33 miles in length, was opened in 1852. The main line was opened throughout on April 22, 1861, and the branch to Colum- bus at about the same time. The Aberdeen branch was opened in 1870, the Starkville Branch in 1874, and the Cairo Extension on Nov. 1, 1881. The Montgomery Division was opened on July 1, 1898, but was not merged with the M. &, O. RR. system until July 1, 1899. In March, 1901, the Southern Ry. Co. acquired the control of a majority of the capital stock of this company and now owns and controls 49,326 shares of the capital stock and $7,947,000 of the general mortgage bonds. The road will continue to be oper- ated as a separate property. (See Southern Ry. Co.) 4. Interest in St. Louis and Cairo RE.— The St. Louis and Cairo RR. is leased for 45 years from Feb. 1, 1886, at a rental of 25 p. c. of 150-640ths of the yearly gross earnings of the line from Mobile, Ala., to East St. Louis, 111., and of the Columbus, Starkville, and Aberdeen Branches, a minimum of $165,000 per annum being guaranteed. The Mobile and Ohio RR. Co. has acquired all except 110 shares of the capital stock of the St. Louis and Cairo RR. Co. by issuing in exchange therefor, at the rate of $1,000 for every $3,000 of stock, the collateral trust gold bonds described in Sec. 13. 6- Interests in Other Properties. — The company owns the capital stock of the Mobile and Bay Shore Ry. Co. (see subjoined statement for that company), and of the Mobile Docks Co., the latter being the owner and lessee of the wharves fronting on Mobile River. The leased wharves are the property of the M. & 0. RR. Co. 8. Boiling Stock, June 30, 1902. — Locomotives, 167. Cars — passenger, 52; com- bination, 9; baggage, mail and express, 38; business, 6; freight (box, 2,488; furniture, 75; fruit, 975; refrigerator, 199; stock, 73; gondola, 2,279; flat, 378; caboose, 14), 6,481; way, 77; service, 222 — total cars, 6,885. Included in the foregoing statement are 59 locomotives, 5 passenger cars, 5 baggage, mail and express cars, 1,595 box cars, 600 fruit cars, 200 re- frigerator cars, 1,350 gondolas, 15 way cars, 150 ballast cars and 50 furniture cars which are subject to Equipment Trust liens. Oa. Equipment bonds to the total amount of $4,257,558.08 have been issued from time to time, secured upon equipment included above. Of these bonds there were out- standing, June 30, 1902, $2,478,765.50 in six series, as follows: Series P, $31,000; Series Q, 316,000; Series R, $146,000; Equipment Agreement, Series A and B, $500,000 each; Series ACF, $985,765.56. The maturities of the principal of the car trusts are various, they being payable in tri-monthly and semi-annual installments, the last of Series P in 1904, the last of Series Q in 1908, the last of Series R in 1905, and the last of Series ACF, in 1908. The principal of the Equipment Agreements, Series A and B, is payable in annual installments, the last being in 1919. 7. General Income Account, year ending June 30, 1902. KARHINOB. PaMenger 1900-01 1901-02 1749,77998 $760,16937 EXPENSES. 1900-01 1901-02 $805 949 93 $871 854 99 Freight. 4 619,203 66 4,932 837 22 53059731 72607179 Mail 106,13128 10593602 2 619 385 83 2 508 742 23 111,70924 117,68379 General Expenses 230,572 28 217,882 66 IfkecUuMMM 553 088 03 592,862 14 Taxes 146 345 69 164 634 48 T"Ult .. 16,139,91219 $6,509,48854 Totals $4 332 851 04 $4 489 186 15 Average* per MiJe — 7.02411 7,44691 Averages oer Mile. . . 4.95632 5.13566 POOR'S MANUAL — MOBILE AND OHIO SYSTEM. 269 Net earnings, 1901-02 (31.04 p. c.), $2,020,302.39; other receipts, $110,364.85— total, $2,130,667.24. Payments: Interest on bonds (1st mtge., $420,000; 1st mtge. extension, $60,000; Montgomery Division, $200,000; collateral trust, $100,000; gen. mtge., $378,880), $1,158,880; interest on car trusts, etc., $114,690.67; rental, St. Louis and Cairo RR., $315,- 536.10; principal of car trust debt and new equipment, $289,038.77; ballasting, $106,- 689.98; raising and double tracking, St. L. & C. RR. at Cairo, $1,061.90; new side tracks, $20,719.60— total, $2,006,617.02. Surplus, $124,050.22. 8. Statement of operations, etc., of the entire system, and of equipment and capital accounts of the M. & O. RR. Co., for seven fiscal years: 1896 1897 1898 1899 1900 1901 1902 687.60 1,095,997 1,924,385 705,605 25,505,304 1,829,588 340,217,936 $ 3,357,862 2,225,879 687.60 1,091,709 2,229,448 660,439 24,324,571 2,096,006 409,608,065 $ 3,569,815 2,474,000 687.60 1,040,673 2,322,797 626,044 23,679,581 2,521,485 504,478,384 $ 3,842,117 2,790,641 687.60 1,085,585 2,514,305 669,832 28,726,601 2,867,310 570,115,702 $ 4,128,389 2,962,896 876.12 1,296,027 3,899,305 852,057 35,245,917 2,875,467 770,450,986 $ 5,996,731 4,192,245 874.12 1,273,241 3,483,501 929,210 37,336,136 3,036,374 792,823,887 $ 6,139,912 4,186,505 874.12 1,244 444 3,377,711 889,828 34,932,951 3,135,099 826,752,555 f 6,509,489 4,324,552 1,131,983 261,209 1,095,815 298,043 1,051,476 365,202 1,165,493 402,765 1,804,486 93,168 1,953,407 114,951 2,184,937 110,365 1,393,192 99,323 862,882 196,750 143,645 90,592 4,88345 3,237 17 1,64628 66.29 p.c. 2.12c. 0.77 c. 527.00 629.70 106 49 27 4,084 7,680,000 17,691,300 225,468 1,393,858 109,962 850,957 209,169 204,451 19,319 5,191 70 3,598 02 1,593 68 69.30 p.c. 2.16 c. 0.69 c. 527.00 631.16 116 49 27 3,679 $ 7,680,000 17,646,300 147,823 1,416,678 115,933 849,756 225,124 180,697 45,168 5,587 72 4,05852 1,52920 72.63 p.c. 2. lie. 0.62 c. 715.52 843.11 143 59 40 5,125 * 7,680,000 21,556,200 559,000 135,000 917,702 680,629 1,568,258 116,627 902,629 241,898 271,748 35,356 6,00406 4,30904 1,695 02 71.77 p.c. 2.07 c. 0.58 c. 715.52 854.08 152 63 47 4,968 * 7,680,000 21,556,200 766,000 40,000 1,308,374 827,039 1,897,654 141,381 1,131,929 286,715 314,990 22,639 6,844 65 4,785 01 2,059 63 69.91 p.c. 1.99c. 0.59 c. 715.52 868.53 178 62 49 5,736 * 7,680,000 23,981,200 1,683,000 180,000 1,865,085 842,568 2,068,358 146,346 1,259,695 295,615 389,416 def. 22,714 7,024 11 4,789 39 2,234 72 68. 18 p.c. 2.01 c. 0.58 c. 715.52 878.18 171 59 46 5,405 $ 7,680,000 23,982,200 1,592,000 270,000 1,558,508 620,279 2,295,302 164,634 1,273,572 315,536 417,510 124,050 7,446 91 4,947 32 2,499 59 66.44 p.c. 2.18c. 0.60 c. 715.52 889.63 167 61 44 6,780 t 7,680,000 23,972,000 2,478,766 144,685 1,572,800 716,501 Rental, St. L. AC. RR.. Additions, etc Expenses to Earnings Average Rate per Pass, per Mile Average Rate per Ton per Mile Miles of RR Owned Baggage, etc , Cars Freight, etc , Cars Bonded Debt Car Trusts Bills Payable Other Liabilities 533,367 715,612 522,842 702,306 Profit and Loss Total Liabilities 26,845,747 22,521,231 225,468 351,795 2,980,025 123,985 643,241 26,699,271 22,521,231 147,823 335,065 2,979,050 131,511 584,591 31,528,531 26,521,231 559,000 324,728 2,954,475 297,933 871,164 32,177,613 27,184,584 766,000 349,223 2,774,475 246,164 857,167 36,231,853 27,256,740 1,683,000 362,708 5,128,925 284,058 1,516,422 35,702,987 27,284,792 1,592,000 183,652 4,933,980 389,680 1,318,883 36,564,752 27,353,992 2,478,766 171,474 4,632,914 533,143 1,394,463 Cost of Property Car Trusts Land Department Stocks and Bonds Materials, etc Cash Assets Total Assets 26,845,747 3,745,500 1,843,600 597,300 894,300 26,699,271 3,703,000 1.844,600 597,800 895,300 31,528,531 3,616,000 1,847,700 597,800 895,300 32,177,613 3,616,000 1,847,700 597,800 895,300 36,231,853 3,541,000 1,847,700 597.800 895,300 35,702,987 3,541,000 1,847,700 599,500 898,800 36,564,752 3,541,000 1,847,700 599.500 898,800 Transf. to F. L. &T.Co.: 1st Debentures 2d Debentures 3d Debentures 4th Debentures Total. ... 7,080,700 1,554,500 7,040,700 1,597,000 6,956,800 1,684,000 6,956,800 1,684,000 6,881,800 1,759,000 6,887,000 1,752.800 6,887,000 1,753,500 Held in the Sinking Fund: 1st Debentures NOTE. — Funded debt In the preceding statement is exclusive of debentures transferred to and standing on the books of the company in the name of the Farmers' Loan and Trust Co. See de- tailed statement of funded debt given In Sec. 13. 270 POOR'S MANUAL Of RAILROADS SOUTH ATLANTIC GROUP. 9. Profit and LOSS Account, year ending June 30, 1902. — Balance, June 30, 1901, $820,278.86; income account June 30, 1902, $124,050.22; gen. mtge. bonds, previously deposited, withdrawn, $1,500; interest on above, $705j profit and loss, land depart- ment, $12,844.01; miscellaneous credits, $13,725.47— total, $773,103.56. Contra: Dis- count on $300,000 St. Louis ft Cairo collateral bonds sold, $24,000; deposited to meet un- paid coupons, gen. mtge. bonds, $1,375; loss on sale Tupelo Cotton Mill stock, $750; paid for sundry stocks, $332.95; sundry old accounts of previous years charged off, $30,144.70 — total, $56,602.65. Balance, June 30, 1902, $716,500.91. 1O. General Balance Sheet, June 30, 1902. Cost of Road and Property $27,353,90880 Real Estate — Donated Lands 171,47380 Trust Equipment (see Sec. 6) 2,478,76556 Stocks and Bds. in Tr'y ( see Sec. 16) . 2,365,084 40 Stocks and Bonds In Hands of Trus- tees ( see Sec. 17) 2,169,455 00 Securities Owned (see Sec. 18) 98,375 00 Materials and Supplies 533,14286 Insurance Paid in Advance 20,026 40 Cash 229,66725 Equip. Trust Sink. Fds. Uninvested. 75,00000 Deposits for Mat. Coupons and Div. . 56,572 00 Current Assets 932,450 23 Miscellaneous Assets 80,74703 Total Assets $36,564,75183 Capital Stock ($100 shares) $7,680,00000 Funded Debt (see Sec. 13) 23,972,00000 Equip. Trust Obligation (see Sec. 6a). 2,478,765 56 Pref. Income and Sink. Fund Deben.. 9,50000 Reserve Accounts 236,27408 Bills Payable 144,68527 Audited Vouchers and Pay Rolls 602,787 34 Current Liabilities 278,097 30 Interest on Bonds Accrued, not Due. 276,29333 Other Interest and Taxes Accrued, not Due 86.84804 Equip. Trust Bonds Accrued, not Due. 83,000 00 Profit and Loss Gen. Account 592,45069 Income Account, Surplus, 1901-2 124,050 22 Total Liabilities $36,564,75183 11. Capital Stock. — The authorized share capital is $10,000,000, of which $5,320,600 is outstanding : $2,359,400 issue of 1873, though not outstanding, has been issued and is in the treas- ury of the company, and $2,320,000 remains unissued. 12. Voting: Authority — The right to vote on $4,953,800 of the outstanding stock (desig- nated " assented "), is vested in the Farmers' Loan and Trust Co., as trustee of the general mort- gage, In trust for the benefit and security of the debentures, until these are extinguished. 13. Funded Debt. — The funded debt outstanding on June 30, 1902 — total, $23,972,000, as per general balance sheet — consisted of the several issues of bonds, listed in the following statement. Additional particulars respecting any issue will be found in the paragraph relating thereto subjoined to the statement : 1st 6s of Dec. 1, 1927 $7,000,000 1st extension gold 6s of July 1, 1927 1,000,000 Montg. Div. 1st gold 5s of Feb. 1, 1947.. 4,000,000 Collateral Trust gold 4s of May i, 1930. . 2,500,000 General gold 4s of Sept. 1, 1938 9,472,000 1st pref. inc. and sink, fund debentures. $6,200 2d pref. inc. and sink, fund debentures. 2,300 3d pref. inc. and sink, fund debentures. 4th pref. inc. and sink, fund debentures. 1,200 Any coupon bonds carrying the right to be registered should be presented for registration at the company's office in New York, N. Y. First Mtge. Bonds. — Secured on the main line from Mobile, Ala., to Columbus, Ky., 472 miles. Principal payable in gold ; interest in lawful money. First Mtge. Extension Gold Bonds. — Secured on the Kentucky and Tennessee RR. (Cairo Exten- sion), and are also a first lien on the several branches of the M. & O. RR., 34 miles, upon the transfer and terminal properties iii Cairo, 111., and upon the net income of the road after payment of the expenses of its maintenance and operation and of the interest on the 1st mtge. bonds. Montgomery Division Oold Bonds. — Secured as a first lien on the Montgomery Division and branches, 188.52 miles, and also cover equipment purchased with the proceeds of $500,000 of the bonds. St. Louis and Cairo Collateral Trust Oold Bonds. — The amount in the statement is the total authorized, the amount outstanding on June 30, 1901, being $2,494,000. Of this amount, $2,161,000 were Issued in exchange for $6,483,000 par value of the capital stock of the St. Louis and Cairo RR. Co., at the rate of a bond of $1,000 for each $3,000 of the stock, and $333,000 were issued for the acquisition of additional property and equipment. The remaining $6,000 of the bonds were In the hands of the trustee, being reserved for the exchange of the remainder of the $6,500,000 capital stock of the St Louis and Cairo RR. Co. Up to June 30, 1902, a total of $6,489,000 par value of the capital stock of the St. Louis and Cairo RR. Co. had been acquired and deposited as security for the bonds of this issue. The bonds are subject to redemption on any interest day, at par and accrued interest. As a sinking fund for their redemption the company will pay yearly to the trustee so much of all dividends collected on the stock of the St. Louis and Cairo RR. Co. as may exceed in amount the Interest maturing during the year on the collateral trust bonds outstanding. This fund is to be applied to the purchase of bonds in the open market, at a price not to exceed par and accrued inter- est. If bonds cannot be purchased at such a price an amount sufficient to exhaust the sinking fund Is to be drawn by lot. All bonds purchased or redeemed, whether by action of the sinking fund or Independently thereof, must be cancelled. General Mtge. Gold Bonds. — By resolution of May 15, 1895, it is provided that no right to enforce the mortgage security can arise in consequence of failure to pay interest until there shall have been four successive coupons In default. The bonds are secured on the main line and branches, 527 miles, and on the lands of the company. The total authorized issue is $10,500,000, of which bonds for $0,469,545 are outstanding; $2,465 are held by the Farmers' Loan and Trust Co., to be exchanged for debentures, and $1,028,000 have been cancelled. " By the provisions of the general mortgage, the bolder of each $500 thereof is entitled to one vote under tne deed of trust of May 15, POOR S MANUAL — MOBILE AND OHIO SYSTEM. 271 1888, at all meetings held for the purpose of directing the Farmers' Loan and Trust Co. how to vote upon the debentures held by it for the benefit and security of the said general mortgage bonds, and for this purpose a ' voting register ' has been established at the office of the company in the city of New York, where such voting power is inscribed in the names of the parties to whom the said general mortgage bonds may have been originally issued, and where any succeeding holder of the bonds may, from time to time, have the same inscribed in his own name for voting purposes." Debenture Bonds. — In addition to the debentures represented in the preceding statement, there were outstanding in the possession of the Farmers' Loan and Trust Co., June 30, 1902, $3,541,000 1st, $1,847,700 2d, $599,500 3d and $898,800 4th debentures, making a total of $6,887,000 debentures, transferred to and standing on the books of the company in its name as trustee of the general mort- gage, and $1,753,500 1st debentures were held in the sinking fund. 14. Guarantiee. — The Mobile and Ohio RR. Co. guarantees, both principal and Interest, $200,000 1st mtge. 5 p. c. bonds of the Mobile and Bay Shore Ry., and guarantees the interest on $4,000,000 1st mtge. 4 p. C. bonds of the St. Louis and Cairo RR. 15. Bonded Debt, Car Trusts. — A sketch of this company's bonded debt, with special refer- ence to the general mortgage bonds, and debentures, as also a statement of the car trusts issued and outstanding from 1882 to 1895, was published in the MANUAL for 1896, page 235. 16. Stocks and Bonds in Treasury. — These consist of the following : Company's assented stock, $4,000 ; company's common stock, $2,359,400 ; gen. mtge. bonds and scrip, $1,684.40 — total, $2,365,084.40. 17. Stocks and Bonds in Hands of Trustees. — These consist of $2,455 gen. mtge. bonds of 1888 (to take up debentures) ; $4,000 St. Louis and Cairo collateral bonds (to acquire St. L. & C. RR. Co.'s stock), and $2,163,000 St. L. & C. RR. Co.'s ; stock (pledged for bonds, etc.), total, $2,169,455. 18. Securities Owned. — These are as follows: Mobile Cotton Exchange stock (par $100), $75; Mobile Trans-Atlantic Terminal Co. stock (par, $100), $3,000; Terminal Elevator stock (par, $100), $40,000; Mobile Docks Co. stock (par, $10), $5,000; Mobile and Bay Shore Ry. stock (par, $100), $50,000; Montgomery Auditorium stock (par, $100), $300 — total, $98,375. 19. Land Department. — Lands in Alabama, 106,138.14 ; in Mississippi, 176,510.66 ; and In Kentucky, 410.52 — total, 283,059.32 acres. Value of lands, $155,601.93. Town lots, etc. (Ala- bama, $3,852.40; Mississippi, $12,019.47), $15,871.87. Total value, $171,473.80. Cash balance, June 30, 1901, $69,785.14 ; land contracts, $102,027.25 ; net proceeds land sales, rents, timber sales, trespasses, etc., $50,063.80 — total, $221,876.19. Contra: Contracts cancelled, $18962.55; taxes on donated lands, town lots, etc., $6,079.44: balance, June 30, 1902 (land con- tracts, $83,898.03; cash, $112,936.17), $196,834.20— total, $221,876.19. 2O. RAILROAD LEASED BY THE MOBILE AND OHIO RR. Co. ST. LOUIS APfD CAIRO RR.— Cairo to East St Louis, 111., 151.6 m. ; Millstadt June, to Mill- stadt, 111., 7 m. — total, 158.6 m. ; total track (steel; 60 Ibs.), 216.32 miles. HISTORY. — Organized June 14, 1881, and on Feb. 2, 1882, succeeded to the property of the Cairo and St. Louis RR. Co., which was sold under foreclosure on July 14, 1881. Leased to the Mobile and Ohio RR. Co., for 45 years from Feb. 1, 1886, at a rental of 25 p. c. of 150-640ths of the yearly gross receipts of the 687.6 miles of railroad from Mobile, Ala., to East St. Louis, 111., includ- ing branches, a minimum yearly rental of $165,- 000 being guaranteed. ( See Manual for 1890, page 465.) By means of an issue of 4 p. c. collateral trust gold bonds dated May 1, 1900, the Mobile and Ohio RR. Co. has acquired all except 110 of the 65,000 shares of capital stock of this com- pany and has deposited such stock in trust for the benefit and security of its collateral trust bonds. The rentals required by the lease will be paid as heretofore — $80,000 each half year to the Farmers' Loan and Trust Co., in trust, to meet the interest on the $4,000,000 1st mtge. 4 p. c. bonds of this company, and the surplus rental to the St. Louis and Cairo RR. Co. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $6,500,000; funded debt (1st 4s of Jan. 1, 1931. — see General Index), $4,000,000; unfunded debt, $80,880 ; profit and loss, $171,532 — total, $10,752,412. Contra : Cost of property, $10,- 500,000; other assets, $252,412 — total, $10,752,412. The bonds are guaranteed by the lessee. CORPORATE OFFICERS. — F. A. Horsey, Pres., & Treas., New York, N. Y. ; Paul W. Abt, Sec., East St. Louis, 111. Office, 68 Broad St., New York, N. Y. 21. RAILROAD OWNED BY THE M. &O. RR. Co. BUT THE RESULTS FROM ITS OPERATION NOT INCLUDED IN INCOME ACCOUNT. MOBILE AND BAY SHORE RY Prltch- ards to Bayou La Batre, Ala., 34.10 m. ; Del- champs to Alabama Port, Ala., 4.26 m. — total, 38.36 m. ; total track (steel; 60 Ibs.), 43 miles. Gauge, 4 ft. 8J in. HISTORY. — Chartered Nov. 7, 1898 ; road opened Sept. 1, 1899. ROLLING STOCK. — Locomotives, 4. Cars (passenger, 2; baggage, etc., 1), 3. OPERATIONS, year ending June 30, 1902. — Trains run ( passenger, 47,021 ; freight, 19,287 ; other, 1,910), 68,218 miles. Passengers carried, 66.402; carried one Kile, 1,203,036. Tons freight moved, 36,935; ton-miles, 851,990. Earnings (pas- senger, J19.G71 ; freight, $34,634; other, $1,711), $56,016. Operating expenses, $29.220. Net earn- ings, $26,796. Payments : Interest on bonds, $10,- 000; taxes $2,336; other charges, $1,453 — total, $13,789. Surplus, $13,007; deficit forward, $9,- 868. Net surplus, $3,639. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $50,000; funded debt (1st gold 5s of May 1, 1949 — see General Index), $200.- 000 ; accrued interest, $1,667 ; current liabilities, $18,237; profit and loss, $3,211 — total, $273,115. Contra : Cost of property, $267,365 ; cash on de- posit to meet matured coupons, $5,760 — total, $273,115. The Mobile and Ohio RR. Co. owns the en- tire capital stock and guarantees the bonds, both principal and interest. DIRECTORS (elected Nov. 6, 1902). — E. L. Russell, C. S. Clarke, James H. Masson, A. H. Spira, R. V. Taylor, J. C. Clarke, Mobile, Ala. ; W. B. Duncan, Adrian Iselin, Jr., New York, N. Y. ; S. R. Prince, Mobile, Ala. Officers: E. L. Russell, Pres. ; R. V. Taylor, Vice-Pres. & Aud. ; Henry Tacon, Sec. & Treas., Mobile, Ala. Office, Mobile, Ala. 278 POOR'S MANUAL or RAILROADS — SOUTH ATLANTIC GROUP. 152. Board of Directors, Mobile and Ohio RR. Co., as of June 30, 1903. W. BUTUCB DUKCAK, Chairman of the Board New York, N. Y. W.C.Roo»evelt..Ntw Tork.N.T. Adrian Iselln. Jr. " Jan. H. MasaoB.... Mobile. Ala. Sam'l. Spencer.. New York.N.Y. C. 8. Shepard.New York, N. T. C. C. Cuyler.. 8. Woolverton. T. E. Jevons... R. D. Lankford.New York.N.Y. E. L. Russell Mobile, Ala. A. H. Stevens.. New York, N. T. A. W. Mackintosh " " SAMUEL SPENCEB, President New York, N. Y. A. B. Andrews, 1st V ice-President Raleigh, N. C. W. W. Finley, 2d Vioe-Presidvnt Washington, D. C. E. L. Russell, General Counsel Mobile, Ala. C. S. Clarke, General Manager St. Louis, Mo. See. and Treat.— Henry Tacon Mobile. Ala. \Gen. Auditor— R. V. Taylor ...Mobile, Ala, PBIWCIFAL OFFICE AND ADDBTSS ... Mobile, Ala. Nsw Tork Office 80 Broadway. St Louis Office Fullerton Building. Washington Office 1300 Penna. ATB. ABERDEEN AND ASHEBORO BY.— Aberdeen to Asheboro, N. C., 55.2 m. ; Blscoe to Mt. Qllead. N. C.. 21.3 m. ; West End to Jackson Springs, N. C. (Jackson Springs RR.), 4 — total, 8( m.; total track (steel; 40 and 50 Ibs.), 82.0 miles. Gauge, 4 ft. 9 In. Consolidation of the Aber- teen and West End and the Asheboro and Montgomery RR. Cos. (See MANUAL for 1899. page 467.) The extension to Mt. Oilead was completed about Jan. 1, 1899. The Jackson Springs RR. (chartered Oct. 1. 1900) is operated by this company. Locomotives, 9. Cars — passenger, 7 ; freight (flat). 30 —total. 37. Operations, year ending June 30. 1902. — Earnings (passenger, $23,200; freight. $116,668: other, $1.698). $141.566. Operating expenses, $75,468. Net earnings, $66,098. Payments: In- terest on bonds. $4,560; taxes, $2,064; sinking fund, $10,866; dividends (6 p. c.). $15,000; other charges. $15,000 — total. $47,490. Surplus, $18,608 ; surplus forward, $1,232 — total, $19,8J7,9 :. otht!l ti??tt |62° ; taxesl *2-457 ! rentals, $150— total, $21,006. Surplus. $1,202 ; deficit forward. $62,124 — net deficit, $60,922. A H,*3^!1?^,2*1*110* f1lfe,h,,J,une.22;, is02-— Capital stock ($100 shares), $350,000; funded ti°A«: cu™** labilities, $132,309— total. $848,374. Contra: Cost of road and equlp- W 922— total $848 f 74 m ' : C*8h ""* current asset8' $21.396 ; profit and loss. OBK^^vPS^l'^TV11?,6*1 debt Ju.n6 30' 1902' conned of $350,000 1st 5s of Jan. 1, 1946 ; and .18.085 of which the details are not furnished. EdwiSf^ifKiT"01^ *i T*ImadKe' ,New To1"*. N- Y. ; Luther S. Bent, Philadelphia, Pa. ; T. H PL« * IS*0111 o0"1^ Mayer> Baltln">™. Md. ; T. M. Carter, Morris Weslosky, S. B. Brown, Vic, £27 r Albany Oa. OFFICERS : T EDWARD HAMBLETON, Pres., Baltimore, Md. ; J. S. Crews, at., Aud. A Oen. Mgr., Albany, Ga. GENERAL OFFICE, Albany, Ga! fol. A£LA5TIf? ANP BIBMINOHAM BB.— In operation. June 30. 1902 : Waycross to Cor- RRf £ ^ 'V °i\W' 4 ft.81 ln" JRaU (8teel)- 56 and 60 lb8- Chartered as Waycros* Air- ^Tvi i' 11 i :,I2Sd °Pen« 1902 («*«•«> mile's) .— Earnings (passenger, $8,294; freight. $10,927), $19,221. Operating expenses, $29,618. Deficit from operations, $10*397. 274 POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. Financial Statement. Dec. 1. 1901 (latest rendered). — Capital stock auth. and subscribed filOoJ per mile; funded debt, outstanding consists of $375.000 (auth. $15,000 per mile) 1st mtce. 5 p'. c. 50-yr. gold coupon $1.000 each, bonds, dated March 5, 1901, due in 1951. Directors. —E H Mason. J. J. Lott, C. J. Bushnell, Brunswick, Ga. ; Chas. L. Hyde, R. A. Fmlrbalrn New York. N. Y. OFFICERS : CHAS. L. HYDE, Pres. ; R. A. Fairbairn, Vice-Pres.; C. J. nttshnell7rre«.; H. P. Condit, Sec., New York, N. Y. GENERAL OFFICE, Brunswick, Ga. New York Office. 71 Broadway. CALDWELL AND NORTHERN BB.— Lenolr to Colletsville, N C.. 10.6 m. ; total track <«taaL860 m) 121 miles. Rail. 30 Ibs. Gauge, 3 ft. Chartered March 9, 1891; charter amended Feb. 25,' 1893 ; road opened In 1895. Locomotives, 2. Cars — passenger, 1 ; freight (flat), ' Operation*, year ending June 30, 1902. — Trains run (mixed), 12,204 miles. Passengers car- ried.2163 ' carried one mile, 32,445. Tons freight moved, 8,743 ; ton-miles, 87,430. Earnings MMenxer ' $895 ; freight, $6,269; other. $499), $7,663. Operating expenses, $9,215; taxes, $88 — total I $9 303. Deficit. $1.640; deficit forward. $5,706— total, $7,346. General Balance Sheet, June 30, 1902.— Capital stock ($1,000,000 auth.; $100 shares), $89200; current liabilities, $10,340 — total, $99,540. Contra: Cost of road and equipment. $92,- 194 ; profit and loss, $7,346 — total, $99,540. Directors (elected Oct. 15, 1902). — Howard T. Goodwin, Win. J. Merrill, Wm. S. Harvey, Peter Boyd Philadelphia, Pa. ; Chas. H. A. Rupp, Geo. O. Shakespeare, Lenolr, N. C. ; John H. Danen- bower Bethayres. Pa. OFFICERS: WM. J. MERRILL, Pres.; Peter Boyd, Vice-Pres., Philadelphia, Pa. • John H Danenbower, Treaa. A Sec., Bethayres, Pa. ; Jas. C. Williams, Gen. Mgr.; L. C. Wat- son, O«n Supt., Lenoir. N. C. GENERAL OFFICE, 1420 Chestnut St., Philadelphia, Pa. CAPE FEAR AND NORTHERN RY. — Projected : Durham to Fayetteville, N. C., about 80 miles Completed up to June 30, 1902: Apex to Angler, N. C., 20 miles. Gauge, 4 ft. 8} in. Rail (steel), 50 Ibs. Organized March 2, 1898 ; road opened to Angler, in March, 1899. Operations, year ending June 30, 1902. — Passengers carried, 5,705 ; carried one mile, 74,486. Tons freight moved, 24,974; ton-miles, 492,365. Earnings (passenger, $2,859; freight, $17,366; other. $1,069), $21,294. Operating expenses, $13,820. Net earnings, $7,474. Payments: Taxes, $446; dividends (4 p. c.), $4,000 — total, $4,446. Surplus, $3,028; surplus forward, $18,747 — total. $21,775. General Balance Sheet, June 30. 1902. — Capital stock ($100 shares), $100,000; current liabilities, $2,815; profit and loss, $21,775 — total, $124,590. Contra: Cost of road and equipment, $117,399; lands owned, $713; materials, etc., $1,136; cash and current assets, $5,342 — total, $124.590. Directors. — J. E. Stagg, J. C. Kllgo. Geo. W. Watts, Durham, N. C. ; J. C. Angler, Apex, N. C. ; H. E. Norrls, Raleigh, N. C. ; T. F. Wilkinson, Gary, N. C. OFFICERS: B. N. DUKE, Pres.; J. B. Stagg, Vice-Pres., Durham, N. C. ; J. C. Angier, Sec., Trees. & Gen. Mgr.; Geo. E. Lemmon, Supt., Apex, N. C. ; T. F. Wilkinson, Atid., Gary, N. C. GENERAL OFFICE, Apex, N. C. CAROLINA AND NORTHWESTERN RY.— Chester, S. C., to Lenoir, N. C., 109.3 m. ; total track (steel, 50.18 m.), 115.03 miles. Rail, 30, 50, and 60 Ibs. Gauge, 4 ft. 8i in. Reor- ganization, Feb. 8. 1897, of the Chester and Lenoir RR. Co. (See MANUAL for 1896, page 910.) On Jan. 1, 1899, the company completed and put In operation its own line between Newton and Hickory, N. C., 9.9 miles, and abandoned the use of the Southern Ry. between the same points. The gauge was changed to standard during 1902. Locomotives, 8. Cars — passenger, 11 ; baggage, etc., 5 ; freight (box, 66; stock, 6; flat, 30; coal, 9), 111 — total, 127. Operations, year ending June 30, 1902. — Trains run (passenger, 72,698; freight, 111,413), 184,111 miles. Passengers carried, 71,603 ; carried one mile, 1,985,888. Tons freight moved, 96.621; ton-miles, 2,196,595. Earnings (passenger, $42,894; freight. $114,494; other, $10,385), $187,773. Operating expenses, $99,853. Net earnings, $67,920. Payments : Interest on bonds, $22.500 ; other interest, $49 ; taxes, $4,092 ; permanent improvements, $2,759 — total, $29,400. Surplus, $38.520 ; less deficit carried forward, $13,145 — net surplus, $25,375. General Balance Sheet, June 30, 1902. — Capital stock ($1,000,000 common and $1,000,000 non-cumulative 4 p. c. preferred; $50 shares), $2,000,000; funded debt (1st gold 5s of May 1, 1950). $1,320,000; interest accrued, not due, $58,042; profit and loss, $25,375 — total, $3,403,417. Contra : Cost of road and equipment, $137,743 ; materials, etc., $12,530 ; cash and current assets, $79,623 ; profit and loss, $25,375 — total, $255,271. The company failed to supply a proper bal- ance sheet. Funded Debt. — The amount authorized on the present mileage is $1,320,000, but additional bonds may be issued to the amount of $12,000 per mile for extensions, and during 1903 and 1904 further bonds to the amount of $2,000 per mile of such extensions may be issued to acquire and pay for equipment. Directors. —J. L. Agurs, T. H. White, J. H. Marion, W. Holmes Hardin, Chester, S. C. ; J. F. Wallace, Yorkville, 8. C. ; Geo. A. Gray, Gastonia, N. C. ; J. A. Martin, Hickory, N. C. OFFICERS : WM. A. BARBER, Pres., New York, N. Y. ; M. S. Lewis, Treas. ; 3. J. McLure, Sec., Chester, S. C. GENERAL OFFICE, Chester, S. C. CAROLINA NORTHERN RR. — Lumberton, N. C., to Marion, S. C., 40.24 m. ; total track (steel; 60 Ibs.), 42.11 miles. Gauge, 4 ft. 8} in. General charter dated Jan. 14, 1899; special charter. Feb. 22, 1899 ; road opened to Klngsdale, 5 m., Jan. 1, 1900 ; to Proctorvilie, 10 m., July 1. 1900 ; to Barnesville, Dec. 15, 1900 ; opened throughout, Dec. 1, 1901. Placed in the hands of a receiver on Dec. 2, 1902. Locomotives, 3. Cars — passenger, 3 ; baggage, etc., 2 ; freight (box, 8 ; flat, 30), 38— total, 43. Operations year ending June 30, 1902. — Passengers carried, 11,379 ; carried one mile, 137,- 150. Tons freight moved, 7,806; ton-miles, 101,489. Earnings (passenger, $4,061; freight, $22.863). $26.924. Operating expenses, $18,247. Surplus, $8,677. Deductions, $22,046. Deficit, $13,369. Financial Statement. June 30, 1902. — Capital stock ($10 shares), $500,000; funded debt (1st gold 6s of April 1, 1929), $500,000 — total stock and bonds, $1,000,000. Cost of road to June 30, 1902. $1,008.000. Directors. — Augustus Melller, Ellwood C. Jackson, Robert L. Forrest, Geo. D. Yeakel, H. L. Elklnn. Philadelphia, Pa. ; E. K. Proctor, Jr., Lumberton, N. C. OFFICERS : W. J. EDWARDS, Re- ceiver, Klngsdale. N. C. ; AUGUSTUS MELLIKR, Pres.; H. L. Elkins, Vice-Pres. ; Thos. L. Carson, Sec. * Tro^ •r,PbiladeopMlf; Pa-r;v F- C; McN«?'y. °«n- S«P<-> Marion, S. C. GENERAL OFFICE, 316, 318 and 320 Bourse Building, Philadelphia. Pa. POOR'S MANUAL OF RAILROADS. 275 CARRABELLE, TALLAHASSEE AND GEORGIA RR.— Projected : Carrabelle, Fla., to Thomasville, Ga., 100 miles. Completed to June 30, 1902 : Carrabelle to Tallahassee, Fla., 50 m. ; total track, 53.58 miles. Rail (steel), 56 Ibs. Gauge, 4 ft. 9 in. Successor, Jan. 5, 1891, to the Augusta, Tallahassee and Gulf RR. Co. (See MANUAL for 1894, page 171.) Completed to Talla- hassee by present company in Oct., 1893. Under its land grant the company has earned 600,000 acres of land, nearly one-fourth of which has been received. Locomotives, 3. Cars (passenger and freight), 60. Operations, year ending June 30, 1902. — Trains run (passenger, 38,000; freight, 30,100), 68 100 miles. Passengers carried, 18,382 ; carried one mile, 919,100. Tons freight moved, 35,594; ton-miles, 1,779,700. Earnings (passenger, $22,796; freight, $28,604; other, $14,540), $65,940. Operating expenses, $59,557. Net earnings, $6,383. Financial Statement, Juno 30, 1902. — Capital stock authorized ($100 shares), $1,000,000; funded debt (1st 6s of 1914), $500,000 — total stock and bonds, $1,500,000. Directors. — Chas. M. Zen, Wm. C. Clark, J. P. Contrell, Newark, N. J. ; S. D. Chittenden, F. T. Myers, Tallahassee, Fla. OFFICERS : CHAS. M. ZEH, Pres., Newark, N. J. ; S. D. Chittenden, Vtce- Pres. & Gen. Mgr., Tallahassee, Fla. ; J. P. Contrell, Sec. & Treas., Newark, N. J. ; F. W. Armstrong, And., Tallahassee, Fla. GENERAL OFFICE, Tallahassee, Fla. CARTHAGE RR.— Cameron to Hallison, N. C., 18.50 m. ; total track (steel, 13 m.), 20 miles. Rail — iron, 50 Ibs. ; steel, 40 Ibs. Gauge, 4 ft. 8i in. Locomotives, 2. Passenger cars, 2. Char- tered April 29, 1886 ; road opened from Carthage to Hallison, Jan. 30, 1898. ( See MANUAL for 1898, page 163.) Leased to W. C. Petty, of Manly, N. C., for 97 years from June 1, 1890. The company owns the line from Cameron to Carthage, 10 miles, and the lessee owns the line from Carthage to Hallison, 8.5 miles. The lessee pays for the use of the former section a yearly rental of $1,440. Operations, year ending June 30, 1902. — Earnings (passenger, $3,560; freight, $14,065), $17,625. Operating expenses, $10,679. Net earnings, $6,946. Deductions: Rental, $1,440 ; taxes, $534 ; other charges, $75 — total, $2,049. Surplus, $4,897 ; surplus forward, $18,292 — total, $23,189. Financial Statement, June 30, 1902. — Capital stock paid in ($250,000 auth. ; $25 shares), $16,050. Cost of road and equipment, $79,400. Directors. — W. T. Jones, Geo. C. Graves, Jas. D. Mclver, L. P. Tyson, A. H. McNeill, C. J. Shaw, Carthage, N. C. ; one vacancy. OFFICERS: (Vacancy), Pres.; W.J.Adams, Sec.; W. C. Petty, Lessee <& Gen. Mgr. ; W. C. Petty, Jr., And., Carthage, N. C. GENERAL OFFICE, Carthage, N. C. CHARLESTON, CLENDENNIN AND STTTTON RR.— Projected : Charleston to Button, W. Va., 100 miles. Completed to Dec. 31, 1902 : Charleston to Big Otter, W. Va., 64 m. ; total track (steel; 60 Ibs.), 70 miles. Gauge, 4 ft. 8J in. Chartered May 1, 1891; road completed to Clay Court House, 51 m., at the close of 1895 ; extended to Big Otter during 1901. There is now under construction, 25 miles of additional road to be completed during 1903. Locomotives, 4. Cars — passenger, 4; freight (box, 3; flat, 24; coal, 86), 113; service, 2 — total, 119. Operations, year ending June 30, 1902. — Earnings (passenger, $37,045; freight, $141,940; other, $555), $179,540. Operating expenses, $53,692. Net earnings, $125,848. Total deductions, $120,606. Surplus, $5,242. General Balance Sheet, Dec. 31, 1901 (latest rendered). — Capital stock paid in ($3,000,000 auth. ; $100 shares), $1,890,600; funded debt (1st gold 5s of Oct. 1, 1944), $1,500,000 ; bills pay- able, $61,102 ; current liabilities, $3,116 ; interest accrued, $224,453 — total, $3,679,271. Contra: Cost of road and equipment, $3,283,299 ; cash and current assets, $25,812 ; profit and loss, $370,- 160 — total, $3,679,271. Directors (elected Dec. 19, 1902). — H. G. Davis, Arthur Lee, S. B. Elkins, John T. Davis, El- kins, W. Va. ; T. B. Davis, Keyser, W. Va. ; C. M. Hendley, Washington, D. C. ; C. C. Lewis, George E. Price, Charleston, W. Va. ; Malcolm Jackson, Clarksburg, W. Va. OFFICERS : H. G. DAVIS, Pres.; Arthur Lee, Vice-Pres. & Treas., Elkins, W. Va. ; C. M. Hendley, Sec., Washington, D. C. GENERAL OFFICE, Charleston, W. Va. CHARLESTON TERMINAL CO. — In Charleston, S. C., 5.02 m. ; total track (10 miles owned), 11.25 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. On July 14, 1903, the railroad, wharves, cotton press and other property of the East Shore Terminal Co. (see MANUAL for 1902, page 253) and of the Commercial Wharf and Cotton Press Co. were sold under foreclosure and were purchased by representatives of the bondholders, who reorganized as a new corporation under the style of Charleston Terminal Co. The property of the company consists of 14 wharves, 30 warehouses, about 30 acres of land, 4 cotton compresses, etc., on the water front of the city of Charleston, besides a railroad as above connecting these properties with the lines entering the The business of the company is the transportation of freight between the railroads and piers, a general wharfage business and the compressing and storing of cotton. Financial Statement, July 15, 1903. — Capital stock, $200,000 ; funded debt ( 1st gold 4s of , 1953; auth., $1,000,000), $500,000 — total stock and bonds issued and outstanding, The remaining $500,000 of bonds are reserved to be issued for the acquisition of addi- tional property and for betterments and improvements. Trustee of bonds : Standard Trust Co. of New York, N. Y. Traffic Guaranty. — The Southern Ry. Co. and the Atlantic Coast Line RR. Co. have entered •> an agreement with the Charleston Terminal Co., by which they undertake to turn over the Charleston Terminal Co. for terminal handling all their traffic in car load lots, moving to r from wharves, warehouses, and industries on the tracks of the Charleston Terminal Co., and to pay for such services such allowances as will suffice to yield to the Charleston Terminal Co., with s other income, a revenue sufficient to meet the interest upon its said 1st mtge. 4 p. c. bonds, guaranteeing in case of a deficiency to make good the same in equal contribution, half and half. The trustee of the bonds is made a party to this agreement, so as to give the bondholders the benefit of it. Directors.— R. G. Edwin, New York, N. Y. ; Fairfax Harrison, Washington, D. C. ; William E. Huger, C. S. Gadsden, Charleston, S. C. ; R. D. Lankford, New York, N. Y. OFFICERS : WM. E. Hi I.K.R, Pres., Charleston, S. C. ; W. H. Hendee, Vice-Prcs., New York, N. Y. ; Hugh Fraser Sec Charleston, S. C. ; C. E. A. McCarthy, Asst. Sec.; R. D. Lankford, Treas., New York, N. Y. ; H. C. 'rince, And., Wilmington, N. C. GKNERAL OFFICE, Charleston, S. C. CHATTAHOOCHEE VALLEY RR.— West Point, Ga., to Jester, Ala., 17 miles. Gauge, 4 Rail (steel), 56 and 60 Ibs. Chartered in 1895; road opened in Jan., 1897. Connects at t Point, Ga., with the Western Ry. of Ala. and the Atlanta and West Point Ry. Locomotives, 2. POOR'S MANUAL OF RAILROADS — SOUTH ATLANTIC GROUP. Can— passenger. 3 ; freight. 11— total. 14. Capltai stock paid In ($1,000,000 auth. ; $100 shares) fll£ooa Funded debt "lit 6s of Dec. 1. 1916). $110.000. Operation* rear ending June 30, 1902.— Earnings (passenger, $9.449; freight, $25,741] $36 ItRX Operating expense*, $18,121. Net earnings. $17,069; other income, $66— total. $17.138 Total deductions. $6.928. Surplus, $10.207. Director*. -H. S. Sears. Boston. Mass.; E. F. Lanier. L. Lanier West Point, Ga. ; W. Wellington. O. H Luke. Jas. Pierce. H. 8. Pannenter. J. E. Oale, T. B. Sears. Boston. Mass. OP cBBs: L. LANIEB. Prw. A Ckm. Myr., West Point. Oa. ; W. H. Wellington, Vice-Pres.; H. S. Sea Treat., Boston, Mass. ; E. F. Lanier, Bee., West Point, Ga. GENERAL OFFICE, West Point, Ga. CHKSAI'KAKF WKSTFRN RY. Brtdfewater to North Rhrer Gap, Va.. 18.96 m. J Che peake and Western RR. (leased ; see below), 26.67 m. ; Norfolk and Western Ry. (trackage), Elk tot Va. 033 m — total operated, 40.96 miles. Sidings (owned, 1.30 m. ; leased, 1.69), 2.99 mile Rail (steel). 80 lb«. Gauge. 4 ft. 8) in. Chartered March 3, 1900, and built the line, Bridgewat to North River Gap. Va., which was opened for traffic June 1, 1902. The Chesapeake and Wester RR. was leased as of May 1, 1902. Locomotives, 3. Cars — passenger, 4 ; baggage, etc., 4 ; frelgt (box 20; gondola, 20; flat, 28), 68; service, 2 — total, 78. Of this equipment, 2 locomotives, an 2 passenger 2 baggage, 20 box, 20 gondola, 8 flat and 2 service cars are leased. Operations, year ending June 30, 1902 (aver. 28.16 miles). — Train mileage (passenger, 25, 868; mixed. 17,632). 43,600 miles. Passengers carried, 43,112; carried one mile, 475.927. Tor freight moved, 24.794 ; ton-miles. 375,272. Earnings (passenger, $13,319 ; freight, $16,305 ; othe $7501), $37.125. Operating expenses, $43,263. Deficit from operations ($6,138; less other r celpts $5550). $588. Charges: Taxes, $1,980; rental, $5,550 — total, $7,530. Total deficit fo year $8 118 Surplus forward, $2,310. Net deficit June 30, 1902, $5,808. General Balance Sheet. June 30, 1902. — Capital stock (see below), $1,419,600; funded del (1st 4s of Out 1, 1951; $35,000 per mile auth.), $1,419,000; current liabilities, $18,112 — tot $2 856 712 Contra : Cost of road and equipment, $1,442,265 ; securities owned, $1,396,335 ; terUls.' etc., $2.146 ; cash and current assets, $10,158 ; profit and loss, $5,808 — total, $2,866,712. Capital Stock. — Capital stock authorized, $20,000 per mile common stock and $15,000 p mile preferred stock ; $100 shares. Paid in June 30, 1902, $811,200 common stock, and $608, 4( preferred stock. RAILROAD LEASED BY THE CHESAPEAKE AND WESTERN RY. Co. CheMpeake and 'Western RR. — Elkton Junction to Bridgewater, Va., 26.67 ; trackage, N. A W. Ry., 0.33 — total, 27 m. ; total track (steel; 80 IDS.). 28.69 miles. Chartered Jan. 22, 1892, as the Chesapeake, Shendun and Western RR. Co.. present name adopted May 14, 1895. Road opened as above April 29, 1896. Leased to the Chesapeake Western Ry. from May 1. 1902. Capital stock authorized, $20,000 per mile common and $5,000 per mile of preferred ; issue up to June 30, 1902, $535,500 of common and $50,- 900 of preferred. Funded debt, $660,000 1st gol 5s of Aug. 1, 1945. De Witt Smith, Pres., New York, N. Y. ; G. Burnett, Vice-Pres., Verona, N. J. ; W. H. Hal Treas., J. C. Ward, Sec., 141 Broadway, Ne York, N. Y. Directors, C. W. Ry. (elected March 3, 1903). — De Witt Smith. Edgar Madden, E. W. Mill New York. N. Y. ; H. T. W. Huntling, F. T. Woodruff, Elizabeth, N. J. OFFICERS : DE WITT SMITI Pres.; Edgar Madden. Vice-Pres.; W. H. Hall, Treas. ; John C. Ward, Sec., New York, N. PRINCIPAL OFFICE, Richmond. Va. New York Office, 141 Broadway. COLLINS AND REIDSVILLE BB.— Collins to Reidsville, Ga., 6.91 m. ; total trai (steel; 40 Ibs.), 7.07 miles. Gauge, 4 ft. 81 in. Chartered Aug. 26, 1895; road opened April 2 1896. Locomotive, 1. Cars—combination, 1 ; baggage, 1 — total, 2. Operations, year ending June 30, 1902.— Earnings (passenger, $1,750; freight, $4,367 $6.117. Operating expenses, $4,695. Net earnings, $1,422. Deductions, $2,986. Deficit for yi $1.564. General Balance Sheet, June 30, 1899 (latest rendered). — Capital stock ($25 shares), $10, funded debt (1st 6s of Jan. 1, 1916), $40,000; bills payable, $615; current liabilities, $210 other liabilities. $6,766 — total, $57,590. Contra: Cost of road and equipment, $50,000 ; cash a current assets, $1,631 ; profit and loss, $5,959 — total, $57,590. Directors.— R. B. Reppard, Savannah, Ga. ; F. T. Lockhart, Augusta, Ga. ; Enoch Gil Reppard, Reidsville. Ga. OFFICERS : R. B. REPPARD, Pres. ; 3. A. Englerth, Sec. MM., Savannah, Ga. ; A. A. Reppard. Mgr., Reidsville, Ga. GENERAL OFFICE, Savannah, Ga. MI OOIiI?fB,fA' NEWBERBY AND LATJBENS BB.— Columbia to Laurens, S. C., 75 m. ddJngB. 3.6 miles 0auSe> 4 ft 9 ln- Rail (steel), 56 Ibs. Chartered Dec. 26, 1885; road con 1 to Dover Junction, S. C.. in 1891; extended to Laurens early in 1896. Locomotives ( total 21 ™ — pa88enger> 2: Da*8ase, etc.. 2; freight (box, 2; stock, 5; flat, 10), 17 Op«'»tipns, vear ending June 30, 1902. — Trains run (passenger, 264,250; freight 858,500, freight moved, 116,446. Earnings (passenger, $40,617; freight, $131,344 Operating expenses, $123,711. Net earnings, $56.883. Payments : In s, $6.878— total, $35,273. Surplus, $21,610 T?,ocr>,> 1902-— Capital stock ($25 shares), $500,000; funded deb ;i.336,054; other liabilities, $92,118— total, $1,928,172. Contra: Cos ' :CaSh "* ^"^ a88CtS' $56>542 : °ther aSS6t8' $11>00° : .i'> JY- T- Martln. W. A. Clark, W. H. Lyles, Columbia, S. C. ; J. S '. Bal"m°r«- >fd.: E. St. Jdhn, Portsmouth, Va. ; W. G. Elliott. W. A. Rlach ' N'D,C' '" 5 £ Mo*elev' Prosperity, S. C. ; M. A. Carlisle, Newberry, S ,WESTEBN KB..— Darien to Middleton, Ga., 28 m. ; Crescent to Belle- 14 1*94" .. Va»u (?,te€l : 50 and 60 lbs-)> 30 mlles- 0auSe. 4 ft. 8i in. Chartered May i« ii- , *2« ^e880r to. the Darlen Short Line, sold under foreclosure. Road completed as above 20^-total 24 LocomotlTe8- 2- Cars— passenger, 3; baggage, etc., 1; freight (box, 2; flat, 18). POOR'S MANUAL OF RAILROADS. 277 Operations, year ending June 30, 1902. — Earnings (passenger, $7,236 ; freight, $4,050; other, $1,525), $12,810. Operating expenses, $13,226. Deficit, $416. Financial Statement, June 30, 1902. — Capital stock ($100 shares), $200,000. Funded debt outstanding consisted of $60,000 1st gold 5s of Dec. 1, 1914, and $12,000 income 2d gold 5s of June 1, 1916 — total stock and bonds, $272,000. Directors (elected Feb. 12, 1903). — W. A. Wilcox, J. K. Clarke, Jr., F. H. MacFarland, Wm. H. Strain, Darien, Ga. ; Donald Mackay, Geo. D. Mackay, Waldo G. Morse, New York, N. Y. OFFICERS : F. H. MCFARLAND, Pres. & Gen. Mgr., Darien, Ga. ; Donald Mackay, Vice-Pres. ; Waldo G. Morse, Sec.; Geo. D. Mackay, Treas., New York, N. Y. GENERAL OFFICE, Darien, Ga. DRY FORK RR. — Hendricks to Armentrout, W. Va., 30 m. ; total track (steel; 60 Ibs.), 30.95 miles. Gauge, 4 ft. 8J in. Chartered Dec. 14, 1892 ; road opened Oct. 1, 1894. Connects with the W. Va. C. & P. Ry. at Hendricks. It is proposed to extend the road to a connection with the C. & O. Ry., a distance of about 50 miles beyond the present terminus. Locomotives, 5. Cars — passenger, 1 ; combination, 1 ; freight, 3 ; other, 8 ; service, 2 — total, 15. Operations, year ending June 30, 1902. — Trains run (passenger, 19,212; freight, 18,367; other, 12,421), 50,000 miles. Passengers carried, 23,707; carried one mile, 323,804. Tons freight moved, 91,790; ton-miles, 2,521,172. Earnings (passenger, $10,034; freight, $62,831; other, $2,252), $75,117. Operating expenses, $51,103. Net earnings, $24,014. Payments: Interest on bonds, $5,134 ; other interest, $2,861 ; taxes, $1,826 — total, $9,821. Surplus, $14,193 ; surplus forward, $78,184 ; additions during year, $652 — total surplus June 30, 1902, $93,029. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth.; $100 shares), $51,- 000; funded debt (1st 6s of July 1, 1909), $80,119 ; current liabilities, $60,633 ; interest accrued, $2,003 ; profit and loss, $93,029 — total, $286,784. Contra : Cost of road and equipment, $207,394 ; materials, etc., $2,355 ; cash and current assets, $77,035 — total, $286,784. Directors. — Robert F. Whitmer, John Halfpenny, Philadelphia, Pa. ; Alfred S. Elliott, Martin Lane, Wilmington, Del. ; A. J. Armstrong, Bayard, W. Va. OFFICERS : R. F. WHITMER, Pres., Philadelphia, Pa.; A. J. Armstrong, Vice-Pres.; Bayard, W. Va. ; Martin Lane, Sec. & Treas., Wilmington, Del.; C. W. Mosser, Gen. Mgr.; F. E. Mower, Aud., Hendricks, W. Va. GENERAL OFFICE, Hendricks, W. Va. DURHAM AND CHARLOTTE RR.~ Gulf to Star, N. C., 33.75 miles. Gauge, 4 ft. 9 In. Rail (steel), 56 Ibs. Chartered in 1893. On July 15, 1896, purchased the entire property of the Glendon and Gulf RR. Co. (See MANUAL for 1896, page 213.) Locomotives, 3. Cars — passenger, 1; freight (flat), 3; other, 2 — total, 6. (See MANUAL for 1898, page 166.) Capital stock ($100 shares), $10,000. Cost of road and equipment, $157,063. Operations. year ending June 30, 1902. — Earnings (passenger, $2,305; freight, $12,508), $14,813. Operating expenses, $12,069. Net earnings, $2,744. Paid taxes, $432. Surplus, $2,312. Directors. — John B. Lennig, Bridesburg, Pa. ; E. H. Middleton, Frankfort, Pa. ; J. S. Carr, Wm. S. Peay, Wm. A. Guthrie, Durham, N. C. OFFICERS : JOHN B. LENNIG, Pres. & Sec., Brides- burg, Pa. ; J. S. Carr, Vice-Pres.,. Durham, N. C. ; E. H. Middleton, Treas., Frankford, Pa. ; J. H. Kennedy, Aud., Gulf, N. C. GENERAL OFFICE, Gulf, N. C. EAST CAROLINA RY. — Tarboro to Farmville, N. C., 24.52 miles. Gauge, 4 ft. 9 in. Locomotives, 2. Cars, 24. Operations, year ending June 30, 1902. — Gross earnings, $24,646. Operating expenses, $23,- 592 ; losses and wrecks, $1,054 — total, $24,646. Financial Statement, June 30, 1902. — Capital stock ($200,000 auth.), $55,000. Cost of road, $108,000. Directors. — Not reported. OFFICERS: HENRY CLAY BRIDGERS, Pres.; Irwin Bridgers, Vice- Pres. ; James Fender, Treas. ; R. R. Bridgers, Aud., Tarboro, N. C. GENERAL OFFICE, Tarboro, N. C. EAST TENNESSEE AND WESTERN NORTH CAROLINA RR. -Johnson City, Tenn., to Cranberry, N. C., 34 m. ; total track (steel ; 13.5 m.), 40 miles. Gauge, 3 ft. Rail, 40 and 48 Ibs. Chartered May 24, 1866 ; road opened, July 3, 1882. Locomotives, 3. Cars — combination, 3 ; freight (box, 13 ; stock, 3 ; flat, 76 ; ore, 24), 116 ; service, 15 — total, 134. Operations, year ending June 30, 1902. — Trains run (passenger, 1,088; freight, 15,851; mixed, 41,208), 58,147 miles. Passengers carried, 34,914 ; carried one mile, 391,241. Tons freight moved, 64,224; ton-miles, 1,475,216. Earnings (passenger, $15,979; freight, $77,257; other, $1.980), $95,216. Operating expenses, $57,949. Net earnings, $37,267 ; other receipts, $203 — total, 137,470. Payments: Interest on bonds, $10,000; other interest, $1,045; taxes, $2,879 — total, $13,924. Surplus, $23,546 ; deficit forward, $98,572 — net deficit, $75,026. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $501,900; funded debt (1st 4s of Nov. 1, 1905), $250,000; current liabilities, $116,443 — total, $868,343. Contra: Cost of road and equipment, $780,327 ; cash on hand, $12,990 ; profit and loss, $75,026 — total, $868,343. Directors (elected March 11, 1903). — Frank Firmstone, Easton, Pa.; R. F. Hoke, Raleigh, 1. M. Howe, John S. Wise, Calvin Pardee, Frank P. Howe, Philadelphia, Pa. ; Mahlon Pitney, Morristown, N. J. OFFICERS : R. F. HOKE, Pres., Raleigh, N. C. ; John S. Wise, Sec. & Treas., Philadelphia, Pa.; Geo. W. Hardin, Supt.; J. E. Vance, Aud., Cranberry, N. C. GENERAL OFFICE. 240 South Third St., Philadelphia, Pa. EGYPT RY.— Colon to Cumnock, N. C., 8 miles. Gauge, 4 ft. 9 in. Rail (steel), 56 Ibs. Chartered June 14, 1890 ; road opened Oct. 15, 1891. Locomotive, 1. Cars — passenger, 1 ; freight (box, 2; flat, 2; coal, 23), 27; caboose, 1; service, 2 — total, 31. Operations, year ending June 30, 1902. — Gross earnings, $5,225. Operating expenses, $7,581. Deficit, $2,356. Charges : Interest on funded debt, $6,480 ; taxes, $188 — total, $6,668. Net deficit, $9,024. General Balance Sheet, June 30, 1902. — Capital stock ($50 shares), $125,000; funded debt st 6s of 1920), $108,000 ; current liabilities, $60,169 — total, $293,169. Contra : Cost of road and equipment, $250,073. Directors. — Samuel A. Henszey, K. K. Henszey, New York, N. Y. ; W. J. Tally, Cumnock, N. C. SAMUEL A. HENSZEY, Pres. & Treas.; K. K. Henszey. Sec., 52 Broadway, New York. «. Y. GENERAL OFFICE, Cumnock, N. C. ,r^AR-M7IIjL,E ,AND POWHATAN RR.— Bermuda to Farmville, Va., 88.72 m. ; Coal- *° WlnJerPock, Va • 3'14 m- : other branches, 1.14 m. — total, 93 m. ; total track (steel, 66 59 (See MAiiS1*;^: i QQ^e> 3 ft o^all> 35 lbs" Chartered March 3, 1884 ; road opened March 3. 1890. NUAL for 1891, pages 207 and 1103.) Receiver appointed on Oct. 27, 1899. Locomotives 6 278 POOR'S MANUAL OP RAILROADS — SOUTH ATLANTIC GROUP. Can— passenger, 5; baggage, etc., 2; freight (box, 21; flat, 81; stock, 1), 103; service, total, 112. Operational year ending June 30, 1902. — Trains run (freight, 10,686; mixed, 59,444; other, 1,054). 71,184 miles. Passengers carried, 14,178 ; carried one mile, 255,780. Tons freight moved 82,375; ton-miles, 1,969,605. Earnings (passenger, $8,569; freight, $58,616; other, $8,915) $76,100. Operating expenses, $65,527. Net earnings, $10,573; other receipts, $238 — total $10,811. Paid taxes, $3,605. Surplus, $7,206 ; deficit forward, $223 ; net surplus, $6,983. Receiver's Balance Sheet, June 30, 1902. — Current liabilities, $9,480 ; profit and loss, $6,983 — total, $16,463. Contra: Materials, etc., $2,208 ; land purchased, $441 ; cash and current assets, $13.814 — total, $16,463. General Balance Sheet. June 30, 1900 (latest rendered). — Capital stock paid in ($100 shares), $960,850; funded debt, $820,000; P. & P. RR. prior to receivership, $158,316; current liabilities, $9,956 — total, $1,949,122. Contra: Cost of road and equipment, $1,868,459 ; materials etc., $2.031 ; cash, $13,845 ; profit and loss, $64.787 — total, $1,949,122. Capital Stock.— Capital stock consists of $500,000 common stock, $460,850 of which is paid in and $500,000 fully paid preferred stock. The latter has a prior right to dividends up to 6 p. annum, non-cumulative. Ponded Debt. — The funded debt consists of $320,000 1st 6s of May 1, 1922, and $500,00€ 2d income 6s of July 25, 1923. The 1st mtge. bonds are secured on the line from .It-mi ii to Farmville, Va., about 58 miles, but not on the line formerly owned by the Brightbope Ry. Co (Bermuda to Eppes Falls, 32.75 miles), on which the 2d mtge. bonds are the first lien The mtge. bonds are also secured on the line from Jennings Crossing to Farmville, but subject in 1 to the 1st mtge. bonds. Directors. — Franklin Stearns, M. L. Van Doven. J. R. Worth, J. C. Shafer, Richmond. Va. ; D. Watkins. Farmville, Va. OFFICERS : T. M. R. TALCOTT, Receiver; N. V. RANDOLPH, Prea. James R. Werth, Vice-Prea.; Qeo. M. Wilson, Sec. rf Treos.; R. T. Wilson, Aud., Richmond, Va'. GENERAL OFFICE, Richmond, Va. FLORIDA EAST COAST BY.— Jacksonville to Miami, Fla., 365.97 m. ; San Mateo June, to San Mateo, Fla., 3.04 m. ; East Palatka to Palatka, Fla., 2.6 m. ; New Smyrna to Orange City June., Fla., 28.06 m. ; West Palm Beach to Ocean Pier, 1.29 m. ; Jacksonville to Mayport, Fla., 26 m. ; Titusville to Sanford, Fla., 48 m. — total, 474.96 m. ; total track (steel ; 60 IDS.), 538.89 miles. Gauge, 4 ft. 8J in. Successor, by change of name in 1895, to the Jacksonville, St. Augustine and Indian River RR. Co. (See MANUAL for 1899, page 473.) The Enterprise and Titusville Division of the Jacksonville, Tampa and Key West Ry. was acquired on April 22, 1899, and Jacksonville and Atlantic Ry. in Sept., 1899. (See MANUAL for 1899, page 475.) This road is owned by H. M. Flag- ler, New York, N. Y. Locomotives, 39. Cars — passenger, 60; baggage, etc., 19; freight (box, 300; flat, 144). 444; caboose, 5; other. 22 — total, 550. Operations, year ending June 30. 1902. — Earnings (passenger, $994,923; freight, $847,624; other, $94,401). $1,936,948. Operating expenses, $1,403,292. Net earnings, $533,656. Total d> ductions, $383,963. Surplus for year, $149,693. Financial Statement, June 30, 1902. — Capital stock. $1,000,000 ; funded debt, $7.100,0 total, $8,100,000. The company has recently made a second mortgage for $8,741,000, and issu about $6,000,000 bonds thereunder ; the balance is held in the treasury for future use. The mortgage runs 30 years and bears 5 p. c. interest. Directors. — H. M. Flagler, E. M. Ashley, New York, N. Y. ; Andrew Anderson, J. E. Ingraha St. Augustine, Fla. ; J. R. Parrott, Jacksonville, Fla. OFFICERS : H. M. FLAGLER, Prea., New Yori N. Y. ; J. R. Parrott, Vice-Prea. 1 Balance Sheet, June 30, 1901 (latest rendered). — Capital stock paid in ($10,000 ?Q^7$ iV^^'JI'00^ /Unde£ debt (lst 6s of July *• 1914>- $15,200; current liabilities, -total, $41,03* Contra: Cost of road and equipment, $39,203; cash and current assets, 961 ; profit and loss, $873 — total, $41,037. , , ,. Directors.— H. S. Simpson, C. W. Zimmerman, Paul Simpson, R. C. Simpson, A. Z. Gates, A. O. pso^UZ Gates. Glenn Springs, S C. ; J. F. Cleveland, S. J. Simpson, R. Z. Gates. Spartanburg, oln $25 shares- The Central Ry. Co. of Georgia owns the entire issue of preferred stock and i04,300 of the common stock. The preferred stock carries preference for dividends up to 6 p. c. per annum non-cumulative. w • D^re,c,t;or?,-~J-^W- sTmlth- Tennille, Ga. ; R. L. Warthen, Sandersville, Ga. ; A. F. Daley, Wrightsville. Ga. ; Chas. Hicks, Jas. M. Finn, Dublin, Ga. ; J. F. Hanson, Macon, Ga. ; J. 3. Wood, C w- Perklna> Savannah, Ga. ; W. N. Parsons, Hawkinsville, Ga. OFFICERS : A. F DALEY Pres <£ ' 288 POOR'S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. GTTLF AND MISSISSIPPI VALLEY GROUP— States of Ken tucky, Tennessee, Alabama, Mississippi and Louisiana. ALABAMA, NEW ORLEANS, TEXAS AND PACIFIC JUNCTION RAIL WAYS COMPANY, LIMITED. • This is an English corporation, registered in London on June 18, 1881. It contro the following railroads in the United States: Alabama, and Vicksburg Railway 142.78 New Orleans and Northeastern Railroad 195.90 burg, Shreveport and Pacific Railway 188.47 — 527.15 miles These lines are under one general management, although each road is maintained am, operated primarily in its own interest as a separate organization. The following st;itc ment shows the results from their operation for the three fiscal years ending June 30, 1900-1902: Nrw ORLEANS AND NOBTH EASTERN RR. VICKSBDKO, SHREVEFORT & PACIFIC RY. ALAUAIIA A VICKBBUUQ RT. 1899-00 1900-01 1901-02 1899-00 1900-01 1901-02 1899-00 1900-01 1901-02 Grow Earnings. . . Working Exp $ 1,856,201 1,338,580 $ 1,929,812 1,453,929 $ 2,030,262 1,498,227 $ 691,532 508,313 $ 896,940 616,370 1 l,OsO,J-il> 764,584 S 812,778 584,196 $ 920,609 685,329 $ 1,019,843 765,561 Net Earnings. .... Exp. to Earnings. . 519,615 475,883 532,035 183,219 280,570 315,668 228,582 235,340 254,281! 72.01 p.c. 75.34 p.c. 73.79 p.c. 73.51 p.c. 68.72 p.c. 70.78 p.c. 71.88 p.c. 74.44 p.c. 75.07 p.c These railroads extend from New Orleans, La., to Meridian, Miss., and from there to Shreveport, La. They are operated in connection with the Alabama Great Southern RR and the Cincinnati, New Orleans and Texas Pacific Ry., and with those roads form a through line, known as "Queen and Crescent Route," from Cincinnati, O., to New Orleans La., and to Shreveport, La. Full particulars respecting the three railroads controlled bj this company will be found in the separate statements for them appended hereto. Revenue Account, year ending Dec. 31, 1902. — Receipts from investments (£146,27 15s. 10d.; less sundry expenses for creosote works, £6 Is. lid., and mortgage bonds charger on the Compress Property, and interest, £7,086 8s. 4d.— total, £7,092 10s. 3d.), £139,171 5s. 7d.; from interest, £1,685 12s. 7d.— total, £140,864 18s. 2d., from which were pai« salaries and other expenses aggregating net £3,408 4s. lid., leaving surplus for year £137,456 13s. 3d.; add net surplus, carried forward from 1901 (£70,440 6s. 2d.; less inter est paid July, 1901, and Jan., 1902, on "B" debentures for 1901, 5 p. c., £49,470 18s. Id. interest paid Feb., 1902, on "C" debentures for 1901, 2ft p. c., £20,038 10s.— total, £69,50< -SB. Id.), £930 18s. Id.— total, £138,387 lis. 4d. Payments: Income tax, £8,294 4s. 8d. interest on "A" debentures, 5 p. c., on £748,850 (£37,442 10s. ; less tax, £2,262 3s. Id.) £35,180 6s. lid.— total, £43,474 11s. 7d., leaving a balance as per general balance sheet, £94,912 19s. 9d. Financial Statement, Dec. 31, 1902. — Capital stock authorized (£10 shares), consists of '00,000 deferred " B " shares, £1,500,000 preferred or " A " shares, and £200,000 pre-prefer- snce shares — the latter unissued ; also £748,850 (of an authorized issue of £750,000) 5 p. c. " A " ; £1,048,390 (of an authorized issue of £1,050,000) 5 p. c. income " B " debentures and i. (of an authorized Issue of £840,000) 5 p. c. income " C " debentures. Preferred " A " Shares are entitled to preference in capital and a cumulative preferential 6 p. c over the " B " shares. The pre-preference shares were never issued and cannot After their authorization, second debentures practically took their place. No divi- dend has yet been paid on either class of shares. Eailroad Map of Kentucky and Tennessee. American Bank Note Company 78 TO 86 TRINITY PLACE NEW YORK [CABLE ADDRESS, "BANKNOTE NEWYORK"] BUSINESS FOUNDED 1793 AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE COPYRIGHT, 1901, B* POOR'S RAILROAD MANUAL CO. Poor's Manual— Railroad Map of the United States, 1903. > 88° Lonaitudt 87° . Wart KENTUCKY AND TENNESSEE. Railroad Map of Kentucky and Tennessee. 05 g u Si is § K i O O 0. E s 00 rg O oo O z I— I & o C/} w H 2 D u 00 < 0* « w >3 < $ 00 DH 00 § p8 ^8 CO Q o DC DC U O CO o Q- » «" .S C3 Ul • — •ij " vc e .h O O og QC O O Q_ CC O o o CO •- -a * S . cC Railroad Map of Mississippi, Arkansas and Louisiana. American Bank Note Company 78 TO 86 TRINITY PLACE tCA NEW YORK I. "BANKNOTE NEWYORK"] AUGUSTUS D. SHEPARD, CHAIRMAN OK THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively f or the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbere'd, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE COPYRIGHT. 190.1. BY POOR'S BAIIBOAO M1MIIAI Poor's Manual— Railroad Map of the United States, 1903. - MISSISSIPPI, ARKANSAS AND LOUISIANA. Railroad Map of Mississippi, Arkansas and Louisiana. WORKS BY HENRY V. POOR. Money and Its Laws: EMBRACING ; A HISTORY OF MONETARY THEORIES AND A HISTORY OF THE CURRENCIES OF THK UNITED STATES. :F>OO:R,. One Vol., royal octavo, cloth, pp. xl., V23. Price, $5.OO. Sent, free of postage, upon receipt of price, by the publishers, and for sale by all booksellers. RESUMPTION AND THE A HAND-BOOK FOR THE TIMES. EMBRACING A SKETCH OF THE COINAGE AND OF THE LEGAL-TENDER CURRENCIES OF THE UNITED STATES AND OTHER NATIONS. By HENRY V. POOR. (1878.) One Volume, i*mo, Cloth, pp. 250. Price, Si.oo. Sent free of postage, on receipt of price, by the publishers, and for sale by all booksellers. POOR S MANUAL OF RAILROADS. 289 The " A " Debentures are of the denominations of £50 and £100 each, and are a first lien on the company's property. They are redeemable Nov. 1, 1940, and bear 5 p. c. interest from Nov. 1, 1890, payable May 1 and Nov. 1. These bonds may be called for redemption at 115 at any time after 1910, upon six months' notice. The interest is to be paid out of the net profits from the date of first interest payment and, should the profits be insufficient to pay such interest, when accrued, it shall be cumulative. The full dividend has been paid to date. The " B " Debentures are of the denominations of £20, £50, and £100 each, and are a second Hen on the company's property. They are redeemable Nov. 1, 1940, and bear 5 p. c. interest from Nov. 1, 1890, payable May 1 and Nov. 1. These bonds, like the " A " debentures, may be redeemed at 115 after 1910, upon six months' notice. Interest is payable out of the net profits after payment of in- terest on " A " debentures, but is not cumulative. Should there be any deficiency in the payment of the full amount of interest for any first half-year, such deficiency shall be payable out of the profits of the second half, provided that the profits of the full year are sufficient for the purpose. Dividends have been paid as follows : In March, 1895, I p. c. ; in March, 1896, 1 p. c. ; in Feb., 1897, 2\ p. c. ; in Feb., 1898, 23 p. c. ; in Feb., 1899, 4i p. c. ; in Jan., 1900, to 1903, 5 p. c. each year. The " C " Debentures are of the denominations of £20 and £100, and are a third lien on the company's property. They are redeemable Nov. 1, 1940, and bear 5 p. c. interest from Oct. 1, 1890, payable April 1 and Oct. 1. Bonds may be redeemed at any time, at par, on six months' notice. In- terest is payable out of profits after provision has been made for interest on " A " and " B " deben- tures. Dividends have been paid as follows : In Feb., 1900, 11 p. c. ; in 1902, 2| p. c., and In Feb., 1903, 5 p. c. General Balance Sheet, December 31, 1902. £ Net Cost Securities, Rys.. etc 2,837.356 •Net Securities in Respect of Compress Prop- erty, and adjustment of Indebtedness of American Companies taken at Par 177,320 Cash at Bankers and Sundry Investments — Discount and Expenses on Debentures Office Furniture and Fixtures. Revenue (old acct., to Sept. 30, 1890) Outstanding Accounts Cash on Hand and at Bankers Losses on realiiation of various properties and stock, and in respect of securities ex- tinguished on reorganizations 179,649 Total Assets 4,175,368 11 8 Total Liabilities 4,175 368 11 NOTE. — Certificates, representing £28,494 in all, were issued in part payment of four coupons of 1st debentures, which became due in 1885, 1886 and 1887. To secure these certificates, 2d deben- tures were delivered to trustees, who have exchanged the same for £34,192 16s. (nominal) of " C " debentures, which they now hold. •Total, £663,404 5s. 2d. ; less par value of securities received on adjustment of accounts, £486,- 083 12s. lid. — net as above, £177,320 12s. 3d. t Balance as per revenue account, £94,912 19s. 9d. ; less interest paid 1902 on " B " de- bentures (5 p. c.), £49,197 17s. 8d. ; net revenue account as above, £45,715 2s. Id. Stocks and Bonds Owned. — Statement showing the securities owned by the com- pany on Dec. 31, 1902: £ 2,837,356 177,320 23,694 471,946 65 417,861 7 67,468 179,649 B. 1 12 0 8 0 9 4 7 6 d. 8 3 8 4 0 3 11 9 10 Preferred "A" Shares (150,000 Shares) Def erred "B" Shares issued as fully under agreement of June 23, 1881, 500,000. "A" Debentures £748 850 0 £ ... 1,500,000 paid £2,- 0 0 0— 2.607.892 B. 0 19 d 0 0 " W" Debentures 1,048,390 0 " C " Debentures 81065219 Accrued Interest on "A" Debentures. . . Sundry Outstanding Accounts 4,107,892 6,240 15,520 45,715 19 8 2 2 0 4 3 1 tNet Revenue Account Total Issue. New Orleans & Northeastern RR. $6,000,000 1,372,000 100.000 6,580.000 1,500,000 Capital Stock. . Prior Lien Bonds 1st Mortgage Bonds General Mortgage Bonds Income Bonds Owned. $5,320,000 4,900,000 1,500,000 Totals $15,552,000 Alabama & Vicksburg Ry. Capital Stock. 1,050,000 V. 4 M. 1st Mtge. Bonds 1,000,000 Consol. Mortgage Bonds 800,000 2d Mortgage Bonds 601,300 $11,720,000 581.500 30,000 141.100 387,700 Total*. , $3.451,300 $1,140,300 Total Issue. Owned. Vicksburg. Shreveport & Pacific Ry. Common Stock $3,000,000 $2,773,500 Preferred Stock. 2,200,000 2,080,100 Prior Lien Bonds 1,323,000 . . General Mortgage Bonds 2,177,000 1.386,6o6 Totals $8.700,000 $6.239.600 Southwestern Construction Co. Capital Stock. 3,000,000 448,700 Recapituktion— Stocks 15,250,000 11,203,800 Bonds 15,453,300 8,344,800 Totals. $30,703,300 $19.548,600 The company also owns an interest in the lands of the Vicksburg, Shreveport and Pacific RR. Co. in respect of $1.346,000 3d mtge. and land grant bonds. Through its holdings of capital stock of the Southwestern Construction Co. it is also interested in the Cincinnati, New Orleans and Texas Pacific Ry. Co., lessee of the Cincinnati Southern Ry. Directors.— Augustus B. Abraham, H. Doughty Browne (Chairman'), Baron Emile Beaumont d'Erlanger, Charles Schiff, John Varley, London, Eng. H. DOUGHTY BROWNE, Chairman London, E. C., Eng. B. R. Tomlinson, Secretary " " " Price, Waterhouse & Co., Auditors " " " Secretary's Office 2 Princes Street, London, E. C., Eng. Auditor's Office 3 Frederick's Place, Old Jewry, London, E. C., Eng. 290 POOR'S MANUAL— GULF AND MISSISSIPPI VALLEY GROUP. ALABAMA AND VICKSBTJRG RAILWAY COMPANY. (Controlled by A., N. 0., T. & P. Junction Rys. Co.) Line of Road. — Vicksburg to Meridian, Miss 142.78 miles. Sidings, 41.09 miles. Gauge, 4 ft. Sy2iu. Rail (steel, 176.54 m.), 60 to 75 Ibs. History. — Vicksburg and Meridian RR. sold under foreclosure Feb. 4, 1889, and ex- isting company organized by purchasers March 18, 1S89. This company is controlled by the Alabama, New Orleans, Texas and Pacific Junction Railways Co. The company owns the river frontage at Vicksburg, used for the transfer between Vicksburg and Delta, and together with the Vicksburg, Shreveport and Pacific Ry. Co., owns a controlling interest in the capital stock of the Louisiana and Mississippi RR. Transfer Co., owner of the transfer boat. (See MANUAL for 1897, page 682.) Rolling Stock, June 30, 1902.— Locomotives, 20. Cars — passenger, 11; baggage and mail, 7; caf6, 1; freight (box, 505; flat, 106; coal, 21; fruit, 14; furniture, 25; ca- booue, 8; stock, 1), 680; other, 13— total, 712. Statement of operations and income account for seven fiscal years: 1896 1897 1898 1899 1900 1901 1902 Mil« of Railroad . 143.39 168.77 143.39 14 9 4 486 105,870 122,782 143.39 169.19 143.39 14 9 4 473 108,256 135,773 143.39 170.07 143.39 12 9 4 609 98.322 167,371 142.78 172.24 142.78 14 11 6 606 175,186 175,780 142.78 172.99 164.94 15 10 6 622 193.503 187,844 142.78 170.84 171.97 17 10 6 700 211.366 249,625 142.78 183.87 «g ", 693 218,342 249,766 Miles of Track. Miles of Steel Rail Locomotives. Passenger Cars. P*gg*£», HP., fVf« , , Freight and Other Cars Total Revenue Train Mileage 228,652 149,761 5,818,893 275,334 27,663,958 $ 152,844 364,343 57,886 244,039 165,130 5,921,392 305,549 30,842,585 $ 154,470 422,140 *61,986 265,693 142,931 5,572,209 357,409 36,619,589 $ 145,905 474,182 •63,791 350,966 169,809 6,527,105 363,092 37,496,217 $ 167,584 450,949 •84,507 381,347 203,087 7,517,749 448,139 44,099,068 $ 198,115 529,734 •98,606 460,991 224,180 9,092,696 550,257 56,794,619 $ 244,193 588,913 •98.034 468,108 248,598 10,816,913 559,220 56,210.244 284,667 639,885 •107,744 Passengers Cnrriwl Passenger Mileage, , , Freight (ton) Miles Pwttngtr Fiiminpi, , , ,,,.,, Flight Famine", • ......... (Hh*r Earnings T«t*l Fmninit* 575,073 393,714 •638,596 429,135 •683,878 454,530 •703.040 481,383 •826,455 559,327 •931,140 660,492 •1,032,296 740,887 Operating Expenses. Nrt Faring* , , 181,359 124,098 20,400 209,461 122,450 22,000 (3) 21,000 4,030 -1-39,981 4,45824 3,00094 1,45730 1,185 17 67.31 p.c. 2.61 c. 1.37 c. 229,348 121,561 24,000 (5) 35,000 3,400 +45,387 4,769 60 3,178 53 1,59107 1,28644 66.64 p.c. 2.62 c. 1.29 c. 221,657 121,265 24,726 (5) 35,000 6,300 + 34,366 4,87788 3,36632 1,511 56 1,30973 69.01 p.c. 2.57 c. 1.20 c. 207,128 120,886 24,869 (5) 35,000 34,971 -f51,402 5,683 76 3,911 38 1,77238 1,51090 68.82 p.c. 2.64 c. 1.20 c. 270.648 120,111 24,838 (6) 63,000 5,743 -J-56,956 6,43825 4,618 82 1,819 43 1,41338 71.74 p.c. 2.69 c. 1.04 c. 291,409 119,415 24,674 (6) 63,000 1.061 +83,259 7,13178 5,181 91 1.94987 1,45777 72.65 p.c. 2.63 c. 1.14c. Payment* — Interest Taxes Dividends Other Payments 1,713 -1-35,148 4.021 49 2,75324 1,26825 1.02245 68.46 p.c. 2.63 c. 1.32 c Btlanit (+or— ), , Gross Earnings per Mile. t Operating Expenses per Mile Net Earnings per Mile Total Payments per Mile Expenses to Earnings. Aver. Rat* per Pass, per Mile Aver. Rate per Ton per Mile •Including Interest on current account $6,602.93 ; In 1900. $13,677.06 ; In 1901, $ General Income At EaralBgv— Passenger $284, Freight 639 s— in 1897, $1.067 LO.470.53 ; in 1902 icount, year endit B67 39 Expenses — M 58518 M Ml 55 Cc 949 76 Gc .64; in 1898. $1,824.67; $12,452.33. ig June 30, 1902. aint. of Way and Struc J aintenance of Equipment. . nducting Transportation .. in 1899, 260,054 70 129,13836 320,054 63 31,63977 740,887 46 Mall and Express 47* Miscellaneous 47 ToUl ($7,131.78 per mile)... 81.91 oer mile)... ...J ....$1.019,84388 Total ($5.1 Net earnings (27.35 p. c.), $278,956.43; add interest on current accounts, $12,452.33- total income, $291,408.76. Paid interest on bonds, $119,415; taxes, $24,674.24; purchase POOR'S MANUAL OF RAILROADS. 291 of land, $1,061 — total, $145,150.24. Surplus, $146,258.52; surplus forward ($267,387.84; less dividend No. 9, paid Aug. 1, 1901, $63,000), $204.387.84— total, $350,646.36. General Income Account, year ending June 30, 1903. Expenses— Maint. Way and Structures. $243,601 45 Maintenance of Equipment. 204,632 46 Conducting Transportation. 336,241 08 General Expenses 35,998 34 Total ($5,746.42 per mile) $820,473 33 Earnings — Passenger $313,95814 Freight 720,79509 Mail and Express 50,40025 Miscellaneous 65,393 27 Total ( $8,058.18 per mile) $1,150,546 75 Net earnings (28.69 p. c.), $330,073.42; add interest received, $20,564.18 — total, $350,637.60. Deductions: Taxes, $28,500; interest on bonds, $119,415; purchase of land, $41,409.27— total, $189,324.27. Surplus, $161,313.33. General Balance Sheet, June 30, 1902. Cost of Property $3,270,37954 Stock of La. & Miss. RR. Transfer Co. 16,700 00 Materials, etc., on Hand 71,52967 Sundry Debtors 13,80417 Station Agents 26,48556 Remittances in Transit 17,70980 Cash on Hand and in Bank 369,11615 Other Railroads 14,04033 Bills Receivable, Car Trust Notes. . . . 84,012 50 Bills Receivable for Land Sales 23,61349 Total Assets $3,907,391 21 Common Stock ($100 shares) $1,060,00000 Funded Debt Outstanding (see below) 2,190,10000 Interest on Mortgages Due and Unpaid 962 50 Interest on Mortgages Accrued.not Due 29,853 76 Current Accounts 180,83069 Replacement of Rolling Stock Fund.. 41,54173 Land Sales not Completed 23,61349 Proceeds of Land Sales 39,842 79 Profit and Loss 350,646 36 Total Liabilities $3,907,391 21 Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of $1,000,000 V. & M. RR. 1st gold 6s of April 1, 1921 ; $588,800 consol. 1st gold 5s of April 1, 1921, and $601,300 2d gold 5s of April 1, 1921. The bonds are secured on the railroad property in the order in which they are named, but the 2d mtge. bonds are additionally secured by first mortgage on the company's lands. Receipts from land sales are applicable to the payment of interest on the 2d mtge. bonds, but are ap- plied to a sinking fund for the retirement of those bonds whenever the interest is paid from earnings. The original issue of 2d mtge. bonds was $700,000 ; canceled by proceeds of land sales, $98,700 ; out- standing, $601,300. The authorized issue of consol. mtge. bonds is $1,800,000, of which $1,000,000 is reserved for the retirement of the 1st mtge. bonds, the remaining $211,200 being held in the treasury. Land Department. — Under Act of Congress, of Aug. 11, 1856, the Vicksburg and Meridian RR. Co. received a land grant estimated at 404,800 acres. In the reorganization the Alabama and Vicksburg Ry. Co. acquired, at the public sale, Feb. 4, 1889, 131,189.19 acres. There were sold dur- ing the fiscal year 1901-2 17,369 acres, and 45,392.67 acres remained unsold on July 1, 1902. In addition to the lands owned in fee-simple, the company owns the mineral rights to 4,320 acres. Re- ceipts from land sales during the year ending June 30, 1902, $45,520.51 ; expenses, $7,430.24. Sur- plus, $38,090.57. Directors (elected Nov. 3, 1902).— G. T. Bonner, New York, N. Y.; Charles Schiff, London, Eng. ; John F. Winslow, Cincinnati, 0.; C. C. Harvey, New Orleans, La.; T. A. McWillie, Jackson, Miss. C. C. HARVEY, President and Gen. Manager New Orleans, La. Charles Schiff, Vice-President London, Eng. Sec. & Treas. — H. W. Wenham.New Orleans, La. | Auditor. — Larz A. Jones New Orleans, La. PRINCIPAL OFFICES Jackson, Miss., and New Orleans, La. I NEW ORLEANS AND NORTHEASTERN RAILROAD COMPANY. (Controlled by A., N. 0., T. & P. Junction Eys. Co.) 1 • Line of Road Owned.— Meridian, Miss., to New Orleans . 195.52 m. TRACKAGE: Alabama and Vicksburg Ry.: Yards at Meridian, Miss. 0.38m. — 195.90 miles. Sidings, etc., 67.08 miles. Gauge, 4 ft. 8y2 in. Rail (steel; 257.53 m.), 60 and 75 Ibs. 2. History. — Chartered in Louisiana on Oct. 14, 1868, and in Mississippi on March 30, 1871. The project lay dormant until 1881, when the control of the company was acquired by the Alabama, New Orleans, Texas and Pacific Junction Eys. Co. Con- struction was begun in 1882 and the road was opened throughout on Nov. 1, 1883. About two years later a floating debt that had accumulated was discharged by the issue of $1,320,000 of prior lien bonds, these taking precedence of the 1st mortgage bonds by consent of the holders of more than 99 per cent, of the latter. The finances of the com- POOR'S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. pany were again reorganized in May, 1902. $1,000,000 of capital stock and $1,500,000 . i i iiri>iiu> bonds being issued for the retirement of a floating debt amounting to $1,967,377.90 and for the purchase of the New Orleans terminals, which had been until then operated under lease at a rental of $24,561 a year. As an additional measure of relief provision was made for an issue of general mortgage bonds to the amount of $8,000,000, of which $0,320,000 were set aside for the retirement of the $1,320,000 prior lien bonds and the $5,000,000 1st mortgage bonds, leaving $1,680,000 in the treasury available for the future requirements of the company. Of the $5,000,000 1st mortgage bonds, $4,900,000 had been exchanged for the new bonds at the close of the fiscal year, leaving only $100,000 of that issue outstanding. By these arrangements the finances have been placed on a sound basis, and the fixed charges reduced by $73,500 a year for mortgage interest and by $24,561 a year for rent of terminals. 3. Boiling Stock, June 30, 1902. — Locomotives, 45. Cars — passenger, 22; dining, 1; baggage and mail, etc., 12; officers', 2; freight (box, 562; fruit, 227; flat, 423; coal, 894; dump, 14; furniture, 24; caboose, 21), 1,965; other, 10— total cars, 2,012. 4. General Income Account, year ending June 30, 1902. E»rnlmf»— Passenger $401.14913 Freight 1,501,737 51 Mail and Express 78,57202 . Miscellaneous 48,803 34 Total ($10,363.77 per mile) $2,030,26200 Expenses — Maint. of Way and Struc . . . $341,607 68 Maintenance of Equipment. 346,96374 Conducting Transportation. 678,36942 General 76,23092 Total ($7,361.27 per mile) $1,442,07174 Net earnings (28.98 p. c.), $588,190.26 add interest received, $3,459.69 — total, $591,- 649.95. Charges: Interest on bonds (1st mtge., $153,000; prior lien, $79,200; gen. mtge., $110,250), $342,450; taxes, $56,155.10— total, $398,605.10. Surplus, $193,044.85; deficit forward, $2,409,427.90; net deficit, $2,216,383.05. Contra: Construction debt and mtge. interest funded, $1,954,200; mtge. interest waived under funding agreement, $13,177.90; charged off to cost of property, $249,005.15 — total, $2,216,383.05. />. Statement of operations, etc., for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles of Road Operated. 195.90 195.90 195.90 19590 19590 19590 195.90 Passenger Train Mileage 322,456 314,646 293,866 310227 321899 337,496 387,321 Freight Train Mileage 490,977 436,556 459,771 555513 595992 692,955 554,583 Total Revenue Train Mileage Passengers Carried. 1,133,816 213,837 1,090,647 198,307 1,072.557 202,011 1,220,261 . 236583 1,280,690 283672 1,366,912 342,569 1,353,093 40C829 Passenger Mileage. 10 894 924 9849205 9805780 12 059 266 13 116 453 16205423 18909063 Freight (tons) Moved. 850825 738610 869 532 1 043 151 1 236 776 1 245484 1 227354 Freight (ton) Miles. 119,817,540 104 782 001 116 734 973 137 698 776 161 516 873 176 587 428 160 598 725 Earnings — Passenger .*. . . $ 214,806 $ 198 010 182911 $ 227816 $ 281 863 '$ ' 343661 $ 401 149 Freight 1 103008 1 014 874 1 121 257 1 216 882 1 464 415 1 465 318 1 501 738 Mail and Express. Miscellaneous. 66,191 35715 61,534 38837 59,001 33760 59,077 41911 67,828 42095 72,120 48713 78,572 48803 Total Earnings 1,419 720 1 313255 1 396929 1 545686 1 856201 1 929812 2 030 262 Operating Expenses. 1.018,749 980827 983553 1,106,586 1 294744 1 405694 1 442072 Net Earnings 400971 332428 413376 439150 561 457 524 118 5S8 190 Interest Received 1,115 1236 1 865 2218 3402 5863 3460 Net Income 402086 333664 415241 441 368 564 859 529981 591 650 Deduct: Interest on Bonds 379200 379200 379200 379 200 379 200 379200 342450 Taxes, etc Si#X) 34000 36000 50991 46248 60234 56 155 Balance (4- or— ) —11 114 —79536 4-41 4-1L177 -f-139'411 4-90547 4-193*045 Gross Earnings per Mile 7,247 17 6 703 70 7 13083 7890 18 947525 9 851 01 1036377 Operating Expenses per Mile. . . Net Earnings per Mile 5.20035 204682 5,00677 1 69693 5,02069 2 110 14 5|64847 2 241 71 6,60921 286604 7,17557 2 67544 7136127 300250 Expenses to Earning*. 71 76 p c 7469pc 70 41 p c 71 59 p c 69 75 p c 72 84 p c 71 02 pc Av«r. Rate per Pass, per Mile Aver. Rate per Ton per Mile 1.97 c. 092 c. 2.01 c. 0.97 c 1.87 c. 096c Ltt£ ' 088c 2.15 c. ' 0.91 c 2.12c. OS3c 2.12c. 094o POOR S MANUAfc OF RAILROADS. 293 5. General Income Account, year ending June 30, 1903. Earnings — Passenger $476,861 61 Freight 1,664,110 47 Mail and Express 84,35621 Miscellaneous 59,70810 Expenses— Maint. Way and Structures. $460,392 66 Maintenance of Equipment. 366,798 92 Conducting Transportation. 703,495 85 General Expenses 75,511 82 Total ($11,664.30 per mile) $2,285,036 39 Total ($8,199.08 per mile) $1,606,199 25 Net earnings (29.71 p. c.), $678,837.14; add interest received, $11,461.08— total, $690,298.22. Deductions: Interest on bonds (prior lien, $79,200; 1st mtge., $6,000; gen. mtge., $232,424.38; incomes, $67,500), $385,124.38; taxes, $51,364.46— total, $436,- 488.84. Surplus, $253,809.38. 6. General Balance Sheet, June 30, 1902. Cost of Property $13,836,73930 Materials and Fuel on Hand. Sundry Debtors Station Agents Remittances in Transit Other Railroads Cash on Hand and in Bank. Car Trust Notes 179,054 37 121,991 18 85,126 65 22,175 14 42,741 06 60,831 46 84,012 50 Total Assets $14,432,671 66 Capital Stock ($100 shares) $6,000,00000 Funded Debt Outstanding ( see below) 7,820,000 00 Interest Accrued, but Not Due 133,050 00 Current Accounts 406,33767 Replacement of Rolling Stock Fund 73,283 99 Total Liabilities $14,432,67166 7. Funded Debt — Funded debt outstanding on June 30, 1902, consisted of $1,320,000 prior lien gold 6s of Nov. 1, 1915; $100,000 1st gold 6s of Jan. 1, 1911; $4,900,000 ($8,000,000 auth.) gen. gold 4is of Jan. 1, 1952, and $1,500,000 income gold 4Js of July 1, 1952. The prior lien bonds were issued in 1885, to retire floating debt and equipment notes, and to pay for improvements. They took precedence, by consent, of the 1st mtge. bonds. The gen. mtge. bonds and the income mtge. bonds, in the order named, rank below the 1st mtge. bonds as liens on the company's property and income. 8. Directors (elected Nov. 5, 1902).— Charles Schiff, London, Eng.; C. C. Harvey, Henry Abraham, Harry H. Hall, B. F. Eshelman, Alfred Slidcll, R. M. Walmesley,-Jno. 8. Fainey, Pearl Wight, New Orleans, La. C. C. HARVEY, President and General Manager New Orleans, La. Charles Schiff , Vice-President London, Eng. Sec. A Treas. — H. W. Wenham. New Orleans, La. | Auditor. — Larz A. Jones New Orleans, La. PRINCIPAL OFFICE AND ADDRESS ... New Orleans, La. VICKSBURG, SHREVEPORT AND PACIFIC RAILWAY COMPANY. (Controlled by A., N. 0., T. & F. Junction Bys. Co.) 1. Main Line of Road. -Delta, La., to Shreveport, La 171.47 milea. Wascom Extension: Shreveport, La., to Wascom, Tex 17.00 " Total length of railroad owned 188.47 miles. Sidings, 36.48 miles. Gauge, 4 ft. 8*/2 in. Rail (steel; 214.07 m.), 56 and 60 Ibs. 2. History.— Organized April 24, 1901, and on May 1, 1901, assumed possession of all the property of the Vicksburg, Shreveport and Pacific RR. Co. (excepting the United States land grant lands), having purchased the same on March 30, 1901, at foreclosure sale under decree of the Circuit Court of the United States. (See MANUAL for 1900, page 446.) 3. Mississippi River Transfer.— The company owns the river frontage at Delta used for the transfer between Delta and Vicksburg, and together with the Alabama and Vicksburg Ry. Co. owns a controlling interest in the capital stock of the Louisiana and Mississippi Transfer Co., owner of the transfer boat. (See MANUAL for 1897, page 686.) 4. Lease to M., K. & T. Ry. Co. — The Mksouri, Kansas and Texas Ry. oper- ates, at a fixed rental, the Wascom extension of this company's line, under a lease for the term of 25 years from Dec. 22, 1899. 5. Rolling Stock, June 30, 1902. — Locomotives, 20. Cars — passenger, 14; bag- gage and mail, 6; cafe", 1; officers', 1; freight (box, 412; flat, 161; stock, 29; coal, 95; fruit, 7; caboose, 7), 711; other, 11— total cars, 744. 294 POOR'S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. 6. General Income Account, year ending June 30, 1902. Expenses — Maint. of Way and Struc... $238,87914 Maintenance of Equipment. 129,201 36 Conducting Transportation. 330,508 32 General 31,59198 K*rBlBM— Passenger $333,1670!) Freight 612,32424 Mail and Express 42,65546 Miscellaneous and Rent 92,10571 ToUl ($6.298.85 per mile) $1,080,25250 Total ($4,258.35 per mile) $730,18080 Net earnings (32.41 p. c.), $350,071.70; add interest received, $6,252.25— total, $356,- 323.95. Charges: Interest on bonds (prior lien, $73,380; gen. mtge., $76,442.47), $155,- 622.47; taxes, $34,403.29— total, $190,225.76. Surplus, $166,098.19. Deficit forward. $3,601.52. Net surplus June 30, 1902, $162,496.67. Oa. General Income Account, year ending June 30, 1903. Expenses— Maint. Way and Structures. $272,402 19 Maintenance of Equipment. 171,991 63 Conducting Transportation. 377,869 63 General Expenses 37,07066 Earoiigt— Passenger $377,14862 Freight 743,26001 Mail and Express 49,506 30 Miscellaneous 98,60758 Total ($6,730.63 per mile) $1,268,52251 Total ($4,559.51 per mile) $859,33411 Net earnings (32.26 p. c.), $409,188.40; add interest received, $11,632.92— total, $420,821.32. Deductions: Taxes, $38,200; interest on bonds, $157,980 — total, $196,180. Surplus, $224,641.32. 7. General Balance Sheet, June 30, 1902. Cost of Property $7,770,44741 Investment Account 15,800 00 Stock of Material, etc., on Hand 107,75568 Current Accounts 66,375 06 Remittances in Transit 14,571 87 Cash on Hand *nd in Bank 289,39183 Total Assets $8,264,34185 Common Stock $2,856,50000 Preferred Stock 2,142,80000 Funded Debt 2,895,00000 Interest Accrued, but not Due 26,33000 Current Accounts 168,552 37 Replacement of Rolling Stock Fund. . 12,662 81 Profit and Loss 162,49667 Total Liabilities $8,264,34186 8. Capital Stock — The authorized capital stock is $5,200,000 in $100 shares, consisting of $3, 000,000 common stock and $2,200,000 5 p. c. non-cumulative preferred stock. 9. Funded Debt. — The funded debt outstanding on June 30, 1902 — total, $2,895,000 as per general balance sheet — consists of $1,323,000 V., S. & P. RR. prior lien gold 6s of Nov. 1, 1915, and $1,572,000 V., S. & P. Ry. gen. gold 5s of May 1, 1941. The authorized amount of gen. mtge. bonds is $3,500,000, bonds amounting to $1,323,000 being reserved for the retirement of the prior lien bonds, the remaining $605,000 being reserved for other purposes of the company. 1O. Statement of operations, etc., for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Milea Railroad Operated. . . 17069 17069 17069 17069 17069 171 47 171 47 Miles Track Owned 21304 21378 21620 21778 22029 22433 22495 Miles Steel Rail Owned. 19776 19992 20334 20486 21970 21327 21407 126421 124730 112424 131 866 130567 215 120 261 180 Freight Train Mileage 125678 118 156 130359 135672 132068 200011 219087 Total Revenue Train Mileage 352869 357709 365801 410362 402244 603464 684 817 Passengers Carried 144 747 140809 131 2C2 160094 187445 236677 275 765 Passengers Carried One Mile TOM Freight Moved $.325,466 192042 5,102.224 232 573 4,0)3,334 °4C 552 6,031,114 270098 6,621,014 299 9S2 9,754,959 409 518 13,040,317 539052 Tons Moved One Mile 1587fi'3(32 18 813 939 21 701 505 °6 020 977 28 119*046 42 276 061 41 428 494 Earnings — Passenger $ 140309 $ 133607 $ 129406 $ 154797 $ 179 621 $ 265 31 1 $ 333167 Freight 313080 325542 393*933 402539 400 764 S'^'oOO 612 324 105422 113780 116836 121 048 l(y> 147 lll'539 134 762 Gron Earning)!. 558811 572929 640 175 678384 691 532 8% 940 1 080 253 Operating Expenses 377,028 398,280 421,626 438,77* 472,313 585,708 730,181 Net Earnings. . . 181 783 174649 218549 239 611 219219 311 232 350072 Interest. Receipt*, etc 1,206 1,656 1.143 33,639 5fi',806 6,252 Net Income. 182,989 176305 219692 273250 "TOO'7 5 311 232 356324 Grow Earnings per Mile 3.27365 3,35635 375029 3 974 13 4 051 15 522997 629885 Operating Expenses per Mile 220872 233322 2 469 98 2 57058 2 76708 3 41581 4 25835 Net Earning! per Mile 1 06493 102313 1 28031 1 40355 1 28407 1 814 16 204050 Expenses to Earnings. Earnings per Paw. per Mile • 17.47 I--. 2.63 c. 69.51 p.c. 259r 65.86 p.c. 2.69c 64.67 p.c. 257c 68.30 p.c. 271 c 65. 30 p.c. 272c 67.59 p.c. 2 55 c Earnings per Ton per Mile L97c 173c 1 82 c 1 15» POOR'S MANUAL OF RAILROADS. 295 11. Directors (elected Nov. 5, 1902).— C. C. Harvey, Harry H. Hall, Henry W. I'reaton, Larz A. Jones, New Orleans, La.; G. T. Bonner, New York, N. Y. ; Chas. Schiflf London, Eng. ; Frank P. Stubbs, Jr., Monroe, La. C. C. HARVEY, President and General Manager New Orleans, La. Sec. & Treas. — H. W. Wenham . New Orleans, La. | Auditor. — Larz A. Jones New Orleans, La. PRINCIPAL OFFICE AND ADDRESS New Orleans, La. Vicksbnrgr, Shreveport and Pacific Railroad Land Grant. — On Feb. 1, 1902, the unsold portion of the lands granted by Congress in aid of the V., S. & P. RR. were sold under de- cree of foreclosure of the U. S. District Court for the Western District of Louisiana, dated Oct. 7, 1901, to C. C. Harvey for himself and associates. The sale had not been confirmed when this part of the MANUAL was sent to press, owing to objections made by minority holders of Vicksburg, Shreveport and Pacific RR. 3d mtge. bonds. (See MANUAL for 1901, page 441.) The lands are still in the hands of J. H. McCormick, of New Orleans, receiver of the V., S. & P. RR. CINCINNATI, NEW ORLEANS AND TEXAS PACIFIC RAILWAY CO. (Lessee of the Cincinnati Southern By.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Car Trust Notes 8 Directors and Officers 9 Earnings, Expenses, etc 4 Oen. Bal. Sheet, June 30, 1902 6 History 2 Income Acct., June 30, 1902. . 4 Income Acct., 1896-1902 5 Increase of Capital Stock. . . 7 Mileage Oper'd. June 30, 1902 1 Operations and Inc., 1896-1902 5 Renewal of Lease 2 Rolling Stock 3 1. Line of Road Owned.— Cincinnati, O., to Chattanooga, Tenn. ... 335.92 miles. TRACKAGE IN CINCINNATI (B.d O.S.W.Ry., 0.63; C.,C.,C.& St.L.Ry.,1.18) 1.81 " Total length of line operated, June 30, 1902 337.73 miles. Sidings, 158.33 miles. Gauge, 4 ft. 8^ in. Rail (steel), 60, 75, and 85 Ibs. 2. History. — The Cincinnati Southern Ry. was built by the city of Cincinnati under the direction of a board of five trustees appointed by the Superior Court of Cincinnati, by virtue of an Act of the Assembly of Ohio, passed May 4, 1869, and was completed to Chattanooga, Feb. 12, 1880. The city of Cincinnati supplied the means for construction by the issue of municipal bonds, of which the following were outstanding on Dec. 31, 1902: 3d series, May 1, 1876-1906, interest 7.3 p. c. May and Nov. ($2,800,000 issued), $1.- 865,000; 4th series, May 1, 1876-1906, interest 6 p. c. May and Nov. ($3,200,000 issued), $2,890,000; 5th series, Nov. 1, 1878-1908, interest 7 p. c., May and Nov. ($1,000,000 is- sued), $835,000; 6th series, Aug. 1, 1879-1909, interest 6 p. c., Feb. and Aug. ($1,000,000 issued), $895,000; consolidated sinking fund bonds, May 1, 1881-1910, interest 5 p. c., May r.nd Nov., $1,154.000; consolidated sinking fund bond?. July 1, 1881-1931, redeemable July 1, 1911, interest 4 p. c., Jan. and July, $327,000; consolidated sinking fund bonds, July 1, 1891-1941, redeemable July 1, 1921, interest 4 p. c., Jan. and July, $77,000; consolidated sinking fund bonds of July 1, 1952, redeemable 1932), $7,810,000— total outstanding, $16,353,000. Cost of road, $18,683,374.64. The Cincinnati, New Orleans and Texas Pacific Ry. Co. was chartered Oct. 8, 1881, and leased the Cincinnati Southern Ry. for 25 years from Oct. 12, 1881, at a rental of $800,000 a year for the first five years, $900,000 a year for the second five years, $1,000,000 a year for the third five years, $1,090,000 a year for the fourth five years (ending Oct. 12. 1901), and $1,250,000 a year for the fifth five years, ending Oct. 12, 1906. An extension of the lease from Oct. 12, 1906, to Oct. 12, 1966, has been effected, the rental to be $1,050,- 000 a year for the first tweny years, $1,100,000 a year for the second twenty years, and $1,200,000 a year for the third twenty years, it being agreed that the rental under the present lease for the five years ending Oct. 12, 1906, phall be paid at the rate of $1,250,000 a year until July 12, 1902, and that thereafter the excess of rent above $1,050,000 a year (amounting from July 12, 1902, to Oct. 12, 1906, to $850,000) shall be extended for twenty-one and one-quarter years, at the rate of $40,000 a year, with interest at the rate of 3 p. c. a year added. The trustees of the railway are authorized to issue $2,500,000 of 296 POOR'S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. 4 p. c. bonds for terminals, and the lessee agrees to pay in addition to the yearly rental a sum equal to the interest charge on the bonds and a sinking fund of 1 p. c. a year for their redemption. It is provided that not more than $500,000 of the bonds shall be issued in any one year, and that the terminals aa acquired shall become the property of the city of Cincinnati. The lessee is required to increase its capital stock to $5,000,000, the pro- ceeds of the additional $2,000,000 to be invested in property to be used in the operation of the road, such property to be pledged under the mortgage to secure the rental. 3. Rolling Stock, June 30, 1902. — Locomotives, 113. Cars — passenger, 37; combi- nation, 2; catt and parlor, 3; baggage and postal, 24; dining, 2; freight (box, 1,626; flat, 422; stock, 167; coal, 1,546; refrigerator, 123; coke, 201; ore, 20; caboose, 43), 4,148; other, 12— total cars, 4,228. 4. General Income Account, year ending June 30, 1902. Expenses— Malnt. of Way and Struc... $905,846 10 Maintenance of Equipment. 1,111,767 81 Conducting Transportation. 1,836,736 28 General and Taxes 386,25354 Earnings — Passenger J1.090.U9 61 Freight 4,262.375 98 Mail and Express 264,024 20 Miscellaneous 53,884 43 Total ($16,846.44 per mile.) $5.660,40412 Total ($12.617.84 per mile) $4,239,693 80 Net earnings (25.11 p. c.), $1,420,810.32; other income, £25,849.49— total, $1,446,- 659.81. Paid rental, $1,217,268.83; interest on car trusts, etc., $20,256.88— total, $1,237,- 525.71. Surplus, $209,134.10. Deficit forward, $393,865.92; add interest on advance pay- ments on account of preferred stock subscriptions, $1,353.59 — total, $395,219.51. Balance, deficit, June 30, 1902, $186,085.41. 4a. Earnings and Expenses, Supplementary Statement, for year ending June 30, 1903, and comparison with year ending June 30, 1902. — Gross earnings — 1903, $6,155,454.51; 1902, $5,660,404.12; increase, $495,050.39. Expenses and taxes— 1903, $4,649,439.17; 1902, $4,239,593.80; increase, $409,845.37. Net earnings— 1903, $1,506,- 015.34; 1902, $1,420,810.32; increase, $85,205.02. 5. Statement showing the operations and earnings for seven fiscal years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles of RR. Operated. 335.92 335.92 335.92 335.92 335.92 335.92 335.92 Miles of Track Owned 469.87 470.35 472.66 476.93 483.98 486.68 494.25 Miles of Steel Rail 469.87 470.35 472.66 476.93 483.98 486.68 494.25 883488 824240 859685 975 183 965843 1008507 1 049,573 Freight Train Miles 1.282,894 1,069,667 1,088,368 1,251,673 1,281,193 1,176,885 1,380.656 Total Revenue Train Miles 2,166,382 1,893,907 1,948 053 2226856 2 247 036 2185392 2,430,229 Passengers Carried 732,453 633,673 732,109 819 134 881296 958176 1,013,502 Passenger Mileage 44,338,456 29,823,090 46,295,516 59 052 282 42 639 451 45 575,028 50,767,450 Freight (tons) Moved 2,109,147 2,063,492 2,458,762 2,763,546 3,192,020 2,998,020 3,477,448 Freight (ton) Miles 35,") 048 601 354 445 485 423 425 738 481 694 704 540 379 661 506 708 131 117,474229 $ 823135 $ 624 710 $ 875 897 $ 119685 '$ ' 897342 $ 974 159 $ 1090,119 Freight 2,588,969 2553154 2 981 624 3 282 874 3 947 139 3 774 317 4,252,376 Other 273,761 262,642 270597 288673 279760 297 120 317909 Total 3,685,865 3,440,506 4,128,118 4,691,232 5,124,241 5,045,596 5,660,404 2 539 373 2 241 181 2 578 436 2 952 226 3 518 582 3 543 769 4023607 Net Earnings 1,146,492 1 199325 1549682 1 739006 1 605659 1501827 1,636 797 Payments — Rental 1,061,111 1,083,445 1 117420 1 102000 1 102000 1 102000 1,217,269 Interest on Debt 2,055 8198 Cr 2016 Cr 218 Cr 3067 Cr 20 675 Cr. 25,849 Taxes 106,500 102,000 160,000 154000 184000 202000 215,987 Other *309663 f39370 t20,257 Balance (-f- or — ) —23074 -f5682 +274 278 +173 561 -f322 726 +179 132 -f 209 133 Gross Earnings per Mile 10,969 83 1023960 12 286 07 1396200 15 250 72 15 016 65 1684644 Operating Expenses per Mile 7,55766 3412 17 6,670 18 356942 7,673 92 4 612 15 8,786 39 5 175 61 10,471 97 4 778 75 10,549 44 4467 21 11,97787 486857 Expenses to Earnings. 68.89 p. c 65 15 pc 62 46 p c 62 93 p c 6867pc 70 23 p c 71 70 pc Aver, per Pass, per Mile 1.86e 209c 189c 190c 210c 2 14 c 215c Aver. Rate per Ton per Mile 0.73 c. 0.72 c. 0.70 c. 0.68 c. 0.73 c. 0.74 c. 0.71 c. •Dividends paid on Judgment claims against the C., N. O. & T. P. Ry. Co. tlnterest on car trusts, etc. POOR S MANUAL OF RAILROADS. 297 6. General Balance Sheet, June 30, 1902. Property Account $2,910,74703 Cash from Pref. Stock Subscriptions.. 2,000,00000 Supplies and Material on Hand 229.44832 Reserve for Account of Obligations of the Lease 449,97839 Reserve for Account of Renewals of Company's Property 689,283 85 Int on Car Trust Notes not Matured.. 12,257 % Cash and Current Assets 1,659,355 33 Profit and Loss Account 186,08541 Total Assets $8,037,15629 Preferred Stock ($100 shares) $2,000,00000 Common Stock ($100 shares) 3,000,00000 Reserves for Renewal and Improve- ments to Property, Incl. Improve- ments Required by Lease 952,887 72 Reserves for Renewal of Equip., etc. 1,009,31433 Reserves for Taxes 178,90448 Reserves, Miscellaneous 78,74273 Car Trust Notes 92,594 70 Rental Accrued 278,1888) Current Liabilities 446,52962 Total Liabilities $8,037,15629 7. Increase of Capital Stock. — Cumulative 5 p. c. preferred stock to the amount of $3,- 000,000 was authorized in April, 1902, and $2,000,000 thereof was issued at par to the stockholders of the company. The remaining $1,000,000 will be reserved for additions and betterments. Thi.s stock has preference for assets as well as for dividends, but is without voting power. A controlling interest in the capital stock is held jointly by the Southern Ry. Co. and the Cincinnati, Hamilton and Dayton Ry. Co. 8. Car Tru«t Notes. — These are in two series dated, respectively, Jan. 23, 1899, and April 10, 1899, and payable on various dates, the first series to be finally paid off on April 7, 1904, and the second on April 10, 1904. The first covers 300 coal cars and 100 furniture cars, and the second 100 flat cars. 9. Directors (elected Nov. 27, 1902). — S. M. Felton, Chicago, 111.; Lawrence Max- well, Jr., M. E. Ingalls, Briggs S. Cunningham, Eugene Zimmerman, M. D. Woodford, Cincinnati, 0.; Henry F. Shoemaker, Samuel Spencer, Francis Lynde Stetson, New York, N. Y. HENRY F. SHOEMAKER, Chairman of the Board New York, N. Y. SAMUEL SPENCEB, President " " W. J. MURPHY, Vice-President • Cincinnati, 0. Secretory. — W. A. Shoemaker Cincinnati, O. I Treasurer. — C. Patton Cincinnati, O. Auditor. — M. F. Molloy Cincinnati, O. PRINCIPAL OFFICE AND ADDRESS Odd Fellows' Temple, Cincinnati, 0. Executive Office 80 Broadway, New York, N. Y. LOUISVILLE AND NASHVILLE RAILROAD COMPANY. (For map of this system, see between pages 304 and 305.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Gen. Bal. Sheet, June 30, 1902. 12 Guaranteed Bonds 17 History 1 Income Acct, June 30, 1902. 8 Joint Control of "Monon"... 2a Joint Leaseholds 6 Joint "Monon" Bonds 16 Leased Lines, Statement of. 20 Lines Owned but not Oper'd. 3 Mileage Oper'd., June 30, 1902 2 Operations & Inc., 1896-1902.. 11 Profit and Loss, June 30, 1902 9 Rolling Stock 6,7 Secur. Owned, June 30, 1902.. 19 Sinking Fund Payments 10 Yellow River RR 2a Atlanta Extension 2a Capital Stock, Description of 13 Coll. Trust Bonds of 1903 16 Construction Account 18 Control by A. C. L. RR. Co.. 2a Directors and Officers 24 Earnings, Expenses, etc 8 Fixed Chgs.,Est. for 1902-1903 10 Funded Debt, Description of. 14 1. History. — Chartered March 5, 1850; main stem opened in Nov., 1859. Other lines were added to the system from time to time, as shown in detail in previous issues of the MANUAL (see MANUAL for 1902, page 264). The Shelbyville, Bloomfield and Ohio RR. and the Cumberland River and Tennessee RR. were conveyed by deed to the Louisville and Nashville RR. Co. on Sept. 28, 1901; the Birmingham, Selma and New Orleans Ry. was similarly conveyed on April 22, 1902, and the Shelby RR. on May 3, 1902. The Cecilia Branch, which was leased to the Chesapeake, Ohio and Southwestern Ry. Co. on December 28, 1881, was purchased by the Chicago, St. Louis and New Orleans RR. (successor to the C., 0. A S. W. Ry. Co.) on December 19, 1901, for $1,000,000. As of May 1, 1902, the Louisville and Nashville RR. Co. completed its acquisition of the capital stock of the Hen- derson Bridge and Railroad Co. by purchasing the remaining $437,000 of outstanding shares ( see statement in Sec. 20 ) , and since that date the results from the operation of the bridge property have been included in the accounts of the Louisville and Nashville RR. Co. 298 POOR'S MANUAL — GULP AND MISSISSIPPI VALLEY GKOUP. ». Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 3,330.79 miles). Main Stem : Louisville, Ky., to Nashville, Tenn 185.92 miles. /tordstotrn and Springfield Branch: Bardstown Junction to Springfield, Ky. 37.44 Knuxi-illf Branch: Lebanon Junction to Jellico, Tenn 171.17 Wilton Branch: Woodbine to Wilton, Ky Cumberland Valley Branch: Corbin, Ky., to Norton, Va 117.44 Cumberland River and Tennessee RR. : Wasiota to Chenoa, Ky 12.62 Middlesborough RR.: Middlesborough to Coal Mines, Tenn 13.15 Louisville, Cincinnati and Lexington Ry.: Louisville to Newport, Ky 109.70 Louisville Railway Transfer: East Louisville to South Louisville, Ky . . 4.13 Lexington Branch: La Grange to Lexington, Ky 67.00 Shelby Cut-off .- Shelbyville to Christiansburg, Ky 8.51 Louisville, Harrods Creek &Westport RR.: Louisv. to Prospect, Ky. 11.16 Shelby RR. : Anchorage to Shelbvville, Ky 19.10 Shelbyville, Bloomfield and Ohio RR.: Shelbyville to Bloomfield, Ky.. .. 26.72 Kentucky Central Ry.: Covington to Livingston, Ky 147.27 Maysville and Lexington RR., No. Div. : Maysville to Paris, Ky 49.48 Maysville and Lexington RR., 80. Div.: Paris June, to Lexington, Ky. 17.86 Richmond Branch: Richmond to Rowland 33.04 Owensboro and Nashville Ry.: Owensboro to Adairville, Ky 83.46 Mud River Branch : Penrod to Mud River Mines, Ky 4.64 Memphis Line: Memphis Junction to Memphis, Tenn 261.59 Paducah and Memphis Division: Memphis, Tenn., to Paducah, Ky 254.20 Clarksville and Princeton Branch: Clarksville, Tenn., to Princeton, Ky. . . . 52.70 /-.i i. -f? is- ~.i » «j, . $ Hematite to Pond, Ttnn 31.69 CJarfc«*He Mineral Branch: j Vfln ^ ^ Cuinkrland Furnacej Tenn. . . . 5.66 Southeast and 8t. Louis Ry.: East St. Louis, 111., to Evansville, Ind 162.00 Shawneetown Branch: Shawnee* Junction to Shawneetown, 111 40.70 O'Fallon Branch: O'Fallon Junction to O'Fallon, 111 6.04 Henderson Bridge and Connecting Track : Henderson, Ky., to Evansville, Ind. 10.06 Evansville, Henderson and Nash. RR.: Enfield Junction to Henderson, Ky. . 134.76 Madisonville Branch: Madisonville to Providence, Ky 16.10 Nathville, Florence & Sheffield Ry.: Columbia to Sheffield, Ala 82.13 West Point Branch: Iron City to Pinkney, Tenn 1 1.78 Napier Branch: Summertown to Napier, Tenn 10.92 Long Branch: T. and A. Junction to Long Branch 7.32 Sheffield and Tuscumbia RR.: Sheffield to Tuscumbia, Ala 2.63 New and Old Decatur Belt and Terminal RR 3.62 Stouts Mountain RR. : S. M. Junction to Stouts Mountain, Ala 5.95 Birmingham Mineral RR. : Magella to Brickyard Y, 8.02 m. ; Alice to Alice Mines, 0.89 m.; Alice to Fossil Mines, 0.63 m. ; Graces to Bessemer, 11.57 m. ; Sloss to Muscoda, 1.2 m.; Blue Creek Jc. to Blocton. Jc., 27.08 m.; Yolande to Brookwood, 9.01 m.; Chamblee to Goethite, 3.65 m.; Bessemer to Oneonta, 49.3 m.; Village Springs to Comptons, 3.39 m.; Gurley to Worthington's Quarries, 1.18 m.; Palmer's to Bradford, 4.3 m. ; Oneonta to Champion, 3.5 m. ; Boyles to Trussville, 17.14 m. ; Gate City to Graces, 10.28 m.; Helena to Gurnee Jc., 10.04 m.; Readers to Leogusta, 1.68 m. ; Oneonta and Attalla Jc. to Altoona, 9.56 m. ; North Alabama Jc. to Searles, 3.4 m. — total 175.82 Alabama Mineral RR.: Attalla to Calera, Ala 119.07 Columbiana Branch : Shelby to Columbiana, Ala 5.84 Lumberton Branch: Gilmore Switch to Lumberton, Ala 4.77 Skews Branch: O'Connor Junction to Skews, Ala . . 3.60 Other Branches 5.56 Montgomery and Prattville RR.: Prattville Junction to Prattville. Ala. . . 10.35 Mobile and Montgomery Ry.: Montgomery to Mobile, Ala 178.49 Alabama and Florida RR.: Georgiana to Geneva, Ala 77.57 Southern Alabama RR.: Gulf Junction to Escambia Junction, Ala 109.29 Camden Branch: Nadawah to Camden, Ala 16.61 Birmingham, Selma and New Orleans Ry.: Selma to Lyndon, Ala 50.11 Pensacola RR. : Flomaton, Ala., to Pensacola, Fla 44.40 Pensaeola and Atlantic RR.: Pensacola to River Junction, Fla 160.14 New Orleans and Mobile RR.: Mobile, Ala., to New Orleans, La 140.36 Pontchartrain RR.: Pontchartrain Junction to Milneburg, La 5.18 POOR'S MANUAL — LOUISVILLE AND NASHVILLE RR. CO. 299 B. LEASED OB OPERATED UNDER AGREEMENTS (total, 388.24 miles). Nashville and Decatur RR.: Nashville, Tenn., to Decatur, Ala 119.24 miles. South and North Alabama RR.: New Decatur to Montgomery, Ala 182.67 " Wetumpka Branch: Elmore to Wetumpka, Ala 6.30 " Western Ry. of Alabama: Gulf Junction to Selma, Ala 8.02 " Southern Ry.: Gurnee Junction to Blocton, Ala., 14.41 m. ; Seymour to Piper, Ala., 2.23 m.; Ardela to Hansell, Ala., 3.05 m.— total 19.69 " *Cumberland d Ohio RR. (So. Div.) : Cumb. & Ohio Jc. to Greensburg, Ky. 30.90 " "Glasgow RR. : Glasgow Junction to Glasgow, Ky 10.50 " •Elkton and Guthric RR. : Elkton Junction to Elkton, Ky 10.92 " Total length of Louisville and Nashville System, June 30, 1902 3,719.03 miles. DEDUCT: Lines Owned but not Operated (see Section 3) : 0/£ Paducah and Memphis Division (leased to N., C. & St. L. Ry.) . .254.20 Clarksmlle and Princeton Branch : Gracey to Princeton, Ky .... 20.70 — 274.90 miles. Length or lines operated by the L. & N. RR. Co., June 30, 1902 3,441.13 miles. *DEDUCT: Lines Operated, but Results not included in Income Account. ... 52.32 " Length of lines whose earnings are included in Income Account 3,391.81 " Average length operated during year ending June 30, 1902 3,326.76 "• 2d track owned, 55.56 m. ; sidings owned, 756.35 miles. Gauge, 4 ft. 8% in. Rail (steel, 4,129.06 miles), 50 to 80 Ibs. Railroads in which the L. & N. RR. Co. is interested, but which were operated by their own organizations, June 30, 1902: Nashville, Chattanooga & St. Louis Ry.( majority of stock owned; see Sec.4) 941. 66 miles. Birmingham Southern RR.~ (one-half of stock owned) 26.37 " Central Transfer Ry. and Storage Co. (one-half of stock owned) 0.67 " Georgia RR. System (interested as joint lessee) 614.00 " Atlanta, Knoxville & Northern Ry. (majority of stock owned; see Sec. 4) . . 228.14 " Total operated separately, June 30, 1902 1,810.84 miles. Total operated by L. & N. RR. Co., June 30, 1902 3,444.13 "" Owned by L. & N. RR. Co., but operated by other companies 274.90 '' Grand total in which L. & N. RR. Co. was interested, June 30, 1902. .. 5,529.87 miles. 52a. New Lines Constructed.— During the year ending June 30, 1902, there were added by construction to the mileage of the Louisville and Nashville RR., an extension of the Middlesborough RR. 3 miles in length, to coal mines in Tennessee, and the Wilton Branch of the Lebanon-Knoxville Division, 3.97 miles in length — a total of 6.97 miles. The Wilton Branch was put in operation Dec. 1, 1901, and the Middlesborough extension on June 15, 1902. An extension of the Birmingham, Selma and New Orleans RR., from Linden to Myrtlewood, Ala., 10.14 miles, completed after June 30, 1902, was put in operation Aug. 10, 1902. Atlanta Extension. — In April, 1902, the Louisville and Nashville RR. Co. purchased a majority of the common and preferred stock of the Atlanta, Knoxville and Northern Ry. Co., whose railroad extends from Marietta, Ga., to Knoxville, Tenn., 205 miles, with a branch from Blue Ridge, Ga., to Murphy, N. C., 23.5 miles. A company has been incor- porated under the name of Knoxville, La Follette and Jellico RR. Co. to build an exten- sion from Knoxville to Jellico, Tenn., thus connecting with the Knoxville Branch of the I-ouisville and Nashville RR., and giving this company a direct line between Cincinnati, 0., and Atlanta, Ga. " Monon " Purchase. — On May 20, 1902, this company and the Southern Ry. Co. offered to purchase for joint account not less than 51 per cent, of the capital stock of the Chicago, Indianapolis and Louisville Ry. Co. at the price of 90 per cent, of par for the preferred shares and 78 per cent, of par for the common shares, payment to be made in joint 4 per 300 POOR'S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. cent, bonds of the purchasing companies. It was provided that the amount of stock called for in the offer to purchase should be deposited before July 1, 1902. Up to June 1, 1903, $3,873,400 of the $5,000,000 preferred stock and $9,746,900 of the $10,500,000 common stock were acquired and $11,788,000 of the joint bonds were issued in payment therefor (see Section 15). Control by Atlantic Coast Line RR. Co. — As of Nov. 1, 1902, the control of this company was acquired by the Atlantic Coast Line RR. Co., through the purchase of $30,600,000, being a majority, of the capital stock. The details of this purchase will be found in the statement for the Atlantic Coast Line RR. Co. (see GENERAL INDEX). Purchase of Yellow River RR. — The Yellow River RR., from Crestview, Fla., to Flo- ra la, Ala., 27 miles, with branch to Simpson, Fla., 5 miles, was purchased by the Louisville and Nashville RR. Co. in Nov., 1902 (see statement in Sec. 23). 3. Lines Owned but Not Operated.— The section of the Clarksville and Princeton Branch between Gracey and Princeton, 20.70 miles, is leased to the Illinois Central RR. Co. at a rental of $12,039.70 per annum. The Paducah and Memphis Division is leased to the Nashville, Chattanooga and St. Louis Ry. Co., at a yearly rental equal to 5 p. c. upon the cost of the line, including all improvements and betterments. 4. Controlled Railroads Operated Separately.— This company controls the Nash- ville, Chattanooga and St. Louis Ry. Co. through ownership of $6,032,600 out of a total of $10,000,000 of its outstanding capital stock. It also controls the Atlanta, Knoxville and Northern Ry. Co. through ownership of a majority of both classes of the capital stock. This company and the Southern Ry. Co. own the entire capital stock of the Birmingham Southern RR. Co., each company holding $300,000 par value of the preferred stock and $300,000 par value of the common stock. The same companies control the Chicago, Indianapolis and Louisville Ry. Co. through ownership of a majority of each class of its capital stock. This company owns one-half of the capital stock of the Central Transfer Railway and Storage Co. 5. Joint Leaseholds.— The property of the Louisville and Nashville Terminal Co. (see statement in Section 22) is leased jointly by this company and the Nashville, Chatta- nooga and St. Louis Ry. Co. This company and the Atlantic Coast Line RR. Co. are joint lessees of the Georgia RR. and its dependencies. ( See GENERAL INDEX for Georgia RR. and Banking Co.) 6. Rolling Stock, June 30, 1902.— Locomotives, 589. Cars— passenger, 323; bag- gage, mail, and express, 129; freight (box, 13,258; flat, 1,742; stock, 849; coal, 6,458; refrigerator and other, 2,186), 24,493; service, 983 — total, 25,928. 7. Rolling Stock, Dec. 31, 1902. — Locomotives, 590. Cars — passenger, 332; bag- gage, mail, and express, 128; freight (box, 13,813; stock, 834; flat, 1,689; coal, 7,174; refrigerator and other, 2,143), 25,653; service, 1,008 — total, 27,121. 8. General Income Account, year ending June 30, 1902. Expenses— Maint. Way and Structures.. $4,636,930 28 Maintenance of Equipment. . 4,440,261 68 Earnings — Passenger $6,217,803 38 Freight 22,772,175 67 Mail and Express 1,407,786 98 Miscellaneous 314,49134 Total ( $9,231.91 per mile.) $30,712,257 37 Net Earnings ( 31.94 p. c. ) $9,809,819 53 Rents Received 460,349 13 Income from Investments 389,212 20 Other Income 151,460 24 Total Net Income $10,810,841 10 Conducting Transportation. 10,865,177 44 General Expenses 1,061,078 64 Total ($6,283.14 per mile.) $20,902,43784 Rents and Taxes Paid $1,110,747 11 Interest on Funded Debt 4,708,34519 Sinking Funds 141,10000 S. & N. A. RR. Surplus Earnings 71.87733 Unfunded Discount 63,46436 Dividends (6 p. c.) 2,875,00000 Total Payments $8,960,63399 Balance, surplus for year, $1,850,307.11, carried to credit of profit and loss account. 9. Profit and LOSS Account, June 30, 1902.— Balance to credit, June 30, 1901, $5,844,047.65; interest received on bonds in sinking funds accrued prior to June 30, 1901, POOR'S MANUAL — LOUISVILLE AND NASHVILLE RR. CO. 301 $30,149.58; sinking fund payments for which no bonds are received, charged to income account (L. A N. South and North Ala. trust deed mtge. sinking fund, $20,000; Pensa- cola and Atlantic 1st mtge. sinking fund, $56,100; Cecilia Branch mtge. sinking fund, $65,000), $141,100; profit on securities bought and sold, $331,533.69; profit on rails sold during year, $55,396.87; surplus earnings of South and North Ala. RR. for year (previous losses having been charged to this account), $71,877.33; amounts realized from various sources, $14,875.32; surplus income for year, $1,850,307.11 — total, $8,339,287.55. Contra: Premium on bonds redeemed for sinking funds, $39,900; accounts charged off, $10,699.28; reserve fund for improvements at Pensacola (expenditures in excess of previous appropri- ation charged off), $64,183.29; bonds purchased for sinking funds brought to par on ledger, $2,443.53 ; cost of 3 dining cars, $38,956.97 ; Cecilia Branch, cost of road in excess of amount received for it, $397,328.37 ; attorneys' fees in suit against Louisville Bridge Co., $5,000; settlement in full of amount due to Covington and Cincinnati Elevated Railroad and Transfer and Bridge Co. for back taxes, $27,298.13; judgments and costs, etc., on account of Northern Division Cumberland and Ohio RR., $29,796.24; balance to credit of profit and loss account, June 30, 1902, $7,723,681.74 — total, $8,339,287.55. 10. Estimate of Fixed Charges, 1902-1903.— Interest charges (L. & N. RR. bonds, $4,365,913; Nashville and Decatur RR. stock, interest at 7y2 p. c., $265,931; South and North Alabama RR. bonds, $427,300), $5,059,144; sinking funds (Louisville and Nashville-South and North Alabama trust deed, $20,000; Evansville, Henderson and Nashville Division bonds, $60,500; Pensacola and Atlantic bonds, $59,400; Cecilia Branch bonds, $65,000; L. & N. gen. mtge. bonds, $359,700; South and North Alabama RR. bonds, $185,638), $750,238; guaranty under lease of Georgia RR., $300,000 — total, $6,109,382. 11. Statement of operations and income for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles Rd.0per(av.) Pass. Train Miles . .. Freight Train Miles. Mixed Train Miles 2,965.00 5,442,726 9,133,333 2,980.93 5,463,843 9,708,572 2,988.00 5,535,364 10,383,286 2,988.16 5,600,118 10.866,162 3,007.35 5,614,638 11,542,778 3,169.27 5,825,994 11.342,859 611,171 3,326.75 6,042,402 12,688,689 619,287 Revenue Train Miles Passengers Carried . Passenger Mileage. .. Freight (tons)M'ved Freight (ton) Miles. Passenger Earnings.. Freight Earnings. . . Other Kurninpi Gross Earnings* . . . Operating Exp.* Net Earnings Other Receipts Available Revenue . Fixed Charges Dividends 14,576,059 5,455,749 209,967,678 11,856,552 1,674,658,419 15,172,415 5,115,190 186,851,997 11,391,942 1,737,230,703 15,918,650 5,208,588 207,903,873 12,309.731 2.011,367,850 1 4,557.729 15,854,802 1,584,122 16,466,280 5,446,801 215,203,228 12,390,835 2.230,767,045 1 4,905,584 17,100,715 1.753,187 17,157,416 6,282,042 222,424,321 15,839,470 2,581,672,886 $ 5,238,314 20,699,779 1,804,286 17,780,024 6,872.354 239,730,479 16,685,466 2,655,984,116 5,742,581 20,419,162 1,860,464 19,350,378 7.197,018 263,429,527 18,320,972 3,072,503,736 $ 6,217,803 22,772,176 1.722,278 S 4,666,750 14,324,906 1,399,055 * 4,291,735 14,641,263 1,439,309 20,390,711 13,505,206 20,372,307 13,849,218 21,996.653 14,921,730 23,759,486 15,731,588 27.742,379 18,603,406 28,022,207 18,233,034 30,712.257 20,902,438 6,885,505 434,372 6,523,089 427,064 7,074.923 590,776 8,027,898 540,645 9.138,973 650,044 9,789.173 704,688 9.809,819 1.001,022 7,319,877 5,563,057 6,950,153 5.571,509 7.665.699 5.612,842 8,568,543 5,707,033 (3i) 1,848,000 234,611 778,899 7,951 21 5,26464 2,68657 66.21 p.c. 2.23 c. 0.73 c. 9,789,017 5,782,181 (4) 2,112,000 387,60? 1,507,235 9,22485 6,18597 3,03888 67.06 p.c. 2.31 c. 0.76c. 10,493,861 5,965.274 (5) 2,695,000 247.474 1,586,113 8,84184 5,75307 3.08877 65.07 p.c. 2.35 c. 0.77 c. 10,810,841 5,819,092 (5) 2,875.000 266.442 1.850.307 9,231 91 6,28314 2.94877 68.06 p.c. 2.32 c. 0.74 c. Other Deductions . . Balance, Surplus . . . Gross Earn, per Mile Oper. Exp. per Mile.. Net Earn, per Mile . . Expenses to Earn . . Av. Rate p. Pass. p. M Av.Ratep.Tonp.M. 379.317 1.377,503 6.87714 4,55488 2,32226 66.23 p.c. 2.18c. 0.82 c. 399,464 979,180 0.83422 4.64595 2,18827 67.98 p.c. 2.25 c. 0.81 c. 419,955 1,632,902 7,36166 4,99388 2,367 78 67.84 p.c. 2.15c. 0.75 c. •Earnings and expenses on company's material included In 1900 and previous years, but not in 1901 and 1902. 302 POOR'S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. 12. General Balance Sheet, June 30, 1901, and June 30, 1902. (For condensed balance sheet, 1894 to 1900, see MANUAL for 1901, page 417. A38F-TS. 1901 1902 $120 034 158 24 $121 356 483 83 LIABILITIES. Capital Stock. 1901 1902 $55 000 000 00 $00 000 000 00 15 908 177 92 15 764 177 92 Bonded Debt 90 284 660 00 89 605 660 00 8.008 558 87 1 1,074.706 25 Pay Rolls and Vouchers. . . 2,058,682 01 2,696,982 51 101431494 98151308 1 086 767 17 1 108 938 14 48499146 1,431 303 43 1,559 974 43 1 543 162 48 2.502,274 95 Open Accounts 850,2(50 29 441,738 32 178 232 34 226 263 62 Unmatured Interest 777,22025 71162509 739 417 81 1 289 700 79 652,022 80 806.400 59 1 397 992 38 1 344 528 02 Reserve Funds 301,670 52 336,988 64 2 486 791 68 2 522 201 35 Profit and Loss. 5,844,047 65 7,723,681 74 Cash and Current Assets 6,975,82746 6,845,14819 Totals... $1.58.286.634 12 $164.991.989 46 Totals. . . . . $158,286,63412 $164,991,98946 13. Capital Stock. — The company is authorized by its charter to increase the capital stock to an amount sufficient to represent the full cost of the railroad and its branches. The capital stock outstanding on June 30, 1901, amounted to $54,913,720 and on June 30, 1902, to $59,915,520, the difference between the amounts named and those given in the general balance sheet — $86,280 on June 30, 1901, and $84,480 on June 30, 1902 — representing stock unissued. The Atlantic Coast Line RR. Co. owns $30,600,000 of the $60,000,000 capital stock. Par value of stock, $100 per share. 14. Funded Debt The funded debt of the company on June 30, 1902 (total, $111,016,660), consisted of the several issues of bonds listed in the following statement. Additional particulars re- specting any issue will be found in the paragraph relating thereto, appended to the statement: Bonds Outstanding ($89,514,660). M. C. & L. RR. £ 1st 6s of Aug. 1, 1902. . . $1,994,660 M. & L. RR. No. Div., 7s of Jan. 1, 1906. . 400,000 Cecilia Branch 7s of March 1, 1907 325,000 L., C. & L. Ry. 2d 7s of Oct. 1, 1907 892,000 L. & N. RR. Sink. Fd. 6s of April 1, 1910. 1,926,000 St. L. Property 1st 5s of March 1, 1916. . 617,000 L. & N. 5-20 Coll. Tr. 4s of April 1, 1918 6,767,000 E. H. & N. Div. 1st 6s of Dec. 1, 1919.... 1,840,000 Pensacola Div. 1st 6s of March 1, 1920. . 544,000 S. E. & St. L. Div. 1st 6s of March 1, 1921 3,500,000 Pensa. & Atl. Div. 1st 6s of Aug. 1, 1921. 1,741,000 N. O. & Mobile Div. 1st 6s of Jan. 1, 1930. 5,000,000 N. O. & Mobile Div. 2d 6s of Jan. 1, 1930. . 1,000,000 L. & N. General 6s of June 1, 1930 8,911,000 L., C. & L. Ry. Gen. 4Js of Nov. 1, 1931. . . 3,258,000 L. & N. 1st Trust 5s of Nov. 1, 1931 4,940,000 L. & N. 1st gold 5s of May 1, 1937. 1,749,000 N., F. & S. Ry. 1st 5s of Aug. 1, 1937.... 1,996,000 L. & N. Unified 50-yr. 4s of July 1, 1940. . 28,398,000 L. & N.-M. & M. 1st 4Js of Sept. 1, 1945. . 4,000,000 S. E. & St. L. Div. 2d 3s of March 1, 1980. 3,000,000 Ky. Cent. Ry. 1st 4s of July 1, 1987 6,700,000 Past-due Bonds — 1893 to 1901 16,000 Bonds in Trusts ($11,125,000). L. & N. Pad. & Mem. Div. 1st Gold 4s of Feb. 1, 1946 $2,400,000 L. & N. Unified Mtge. 50-yr. Gold Bonds . 8,725,000 Bonds in Sinking Funds ($1,667,000). M., C. & L. £ 1st 6s of Aug. 1, 1902 2,000 L. & N. 1st Gold 5s of May 1, 1937 15,000 L. & N. Unified Mtge. 50-yr. Gold Bonds. 1,229,000 L. & N. Pensa. Div. 1st 6s of Mar. 1,1920. 36,000 Ky. Cent. Ry. 1st Gold 4s of July 1, 1987. 42,000 N., F. & S. Ry. 1st 5s of Aug. 1, 1937 100,000 Pensa. & Atl. Div. 1st 6s of Aug. 1, 1921. . 20,000 L. & N. Sink. Fd. 6s of April 1, 1910 34,000 L. & N. 1st Trust 6s of Nov. 1, 1931 189,000 Bonds in Treasury ($8,619,000). Unified Mtge. 50-yr. Gold Bonds 4,704,000 Pad. & Mem. Div. 1st Mtge. Gold Bonds. 2,379,000 Pensacola & Atl. Div. 1st Mtge. Bonds. . 803,000 5-20 Collateral Trust Gold Bonds 733,000 In "Outstanding Bonds" In the preceding statement are Included bonds to the following amounts, which had been drawn for sinking fund, but not presented for redemption : $65,000 Cecilia Branch bonds, on which Interest ceased Sept. 1, 1902 ; $5,000 Evansville, Henderson and Nashville Division bonds, on which interest ceased Dec. 1, 1901 ; $10,000 Pensacola and Atlantic RR. bonds, on which interest ceased Feb. 1, 1902 ; $5,000 gen. mtge. bonds, on which interest ceased June 1, 1901, and $71,000, on which interest ceased June 1, 1902. Memphis, Clarksville and Louisville Bonds. — Secured on the section of the Memphis Line be- tween Paris, Tenn., and the Kentucky State Line, 82.25 miles. The principal is redeemable by means of a sinking fund of 1 p. c. per annum, which is applied to the purchase of bonds, if they can be obtained below par, but which is invested in other securities if the bonds are above par. On June 30, 1902, the trustees of the fund held $1,199,000 of bonds ($122,000 L. & N. RR. 5 p. c. trust bonds, $18,000 Pens. & Atl. RR. 1st mtge. bonds, $100,000 N. F. & S. Ry. 1st mtge. bonds, $890,000 L. & N. RR. unified bonds, $36,000 Pensacola Division 1st mtge. bonds, $15,000 L. & N. RR. 5 p. c. gold bonds, $16,000 Ky. Cent. Ry. 1st mtge. bonds and $2,000 M. C. & L. RR. £ 1st mtge. bonds, besides $1,915.81 in cash uninvested. Maysville and Lexington RR. Northern Division Bonds. — Secured by first mortgage on the branch of the Kentucky Central Ry. from Maysville to Paris, Ky., 49.32 miles. Cecilia Branch Bonds. — Secured by first mortgage on the Cecilia Branch, 46 miles. There is a sinking fund of $65,000 a year for retirement of these bonds at par, and if they cannot be purchased at that price they are drawn by lot. The Cecilia Branch having been sold to the Illinois Central RR. Co. (statement for which see), the Louisville and Nashville RR. Co. has deposited with August Bel- mont & Co., as trustee, an equal number of its unified bonds, to guarantee the payment of the out- standing Cecilia Branch bonds. Louisville, Cincinnati and Lexington 2d Mtge. Bonds. — Secured on the line from Louisville to Newport, Ky., and on the Lexington Branch, together 175.96 miles. There is a sinking fund pro- vision, but bonds are not drawn. Sinking Fund 6 p. c. Gold Bonds. — Secured by deposit of $2,000,000 of South and North Alabama RR. Co. 2d mtge. 6 p. c. bonds. The original issue amounted to $2,000,000 redeemed by operation of the sinking fund, $74,000. On June 30, 1902, the trustees of the sinking fund held $490,000 of bonds ($67,000 5 p. c. trust bonds, $34,000 of these sinking fund bonds, $339,000 unified bonds, $22,000 So. and No. Ala. RR. consols., $2,000 Pens. & Atl. RR. 1st mtge. bonds, and $26,000 Ky. Cent. Ry. 1st mtge. bonds), beeides $2,571.50 in cash uninvested. POOR S MANUAL — LOUISVILLE AND NASHVILLE RR. CO. 303 St. Louis Property First Mtge. Gold Bonds. — Issued for the purchase and Improvement ol ter- minal property in St. Louis, Mo. The bonds are secured on the property purchased. Five-Twenty Collateral Trust Gold Bonds. — Secured by deposit with the United States Trust Co. of New York, trustee, of $8,400,000 unified 4J p. c. bonds and $2,400,000 Paducah and Memphis Division bonds. The total issue on June 30, 1902, was $7,500,000, but $733,000 of the bonds were held in the treasury of the company. The entire issue was called for redemption April 1, 1903, the holders being offered the privilege of exchanging their bonds for new 4 p. c. collateral trust bonds to be issued in 1903 (see Sec. 16). Evansville, Henderson and Nashville Division Gold Bonds. — Secured by first mortgage on the Henderson Division and Madisonville Branch. There is a sinking fund of $60,500 yearly till 1905, the amount increasing each five years thereafter till $150,000 per annum is reached. This fund is applied to purchase of the bonds at not over 110, but if they cannot be got at that price an amount sufficient to exhaust the annual sinking fund Is subject to call at 10 p. c. premium. Pensacola Division Gold Bonds. — Secured on the line from Pensacola, Fla., to Flomaton, Ala. There is a sinking fund of $10,000 yearly increasing at stated periods till all the bonds are paid off. The sinking fund is applied to purchase of bonds at 105, but if they cannot be obtained at that price bonds are drawn by lot. The total issue is $580,000, but $36,000 of the bonds are in sinking fund. Southeast and St. Louis Division Gold Bonds. — Secured in the order of their priority on the Southeast and St. Louis Ry. and branches, 208.74 miles. Except as to date and time of mortgage, rate of interest and priority of lien, the 1st and 2d mtge. bonds are alike in all respects. Pensacola and Atlantic Division Gold Bonds.— Secured on the railroad from Pensacola to River June., Fla., 160.28 miles, and on all property appertaining to that line. They are guaranteed, prin- cipal and interest, by the Louisville and Nashville RR. Co., the guaranty being endorsed on each bond. There is a yearly sinking fund (commenced Feb. 1, 1892), of 1.1 p. c., for redemption of the bonds, by purchases or drawings, at 10 p. c. premium. The total issue of these bonds is $2,574,000, of which bonds amounting to $803,000 are in the treasury of the company and $20,000 in sinking fund. New Orleans and Mobile Division Gold Bonds. — Secured in the order of their priority on the line from Mobile, Ala., to New Orleans, La., 140.36 miles. General Mortgage Gold Bonds. — Secured by first mortgage on the main stem, the Bardstown, Richmond and Knoxville Branches, and the 46 miles of the Memphis line within the State of Ken- tucky. They are also secured on the section of the Memphis Line between Guthrie (Kentucky Line) and Memphis and on the Henderson Division and Madisonville Branch, subject to the prior liens of the Memphis and Ohio, the Memphis, Clarksville and Louisville, and the Evansville, Henderson and Nashville mortgages. The mortgage provides for a sinking fund sufficient to retire the bonds before maturity, the company having the right to draw them by lot at 110 and interest. On June 1, 1903, $327,000 of the bonds were redeemed by action of the sinking fund. Louisville, Cincinnati and Lexington General Mortgage Gold Bonds. — These rank next after the L., C. & L. Ry. 2d mtge. bonds on the Cincinnati Division and Lexington Branch. First Mortgage Collateral Trust Gold Bonds. — These are part of an authorized issue of $7,000,- 000, to be secured by deposit in trust of $5,000,000 1st mtge. 5 p. c. bonds of the Birmingham Mineral RR. Co., due Nov. 1, 1937, and $2,000,000 1st mtge. 6 p. c. bonds of the Owensboro' and Nashville Ry. Co., due Nov. 1, 1931. The trustee holds as security for the amount of bonds out- standing, $3,929,000 Birmingham Mineral bonds, and $1,200,000 Owensboro' and Nashville bonds. The total issue of the trust bonds is $5,129,000, but bonds amounting to $189,000 are in sinking fund. First Mortgage 50-year Gold Bonds of 1937. — Secured on the section of the Cumberland Valley Branch extending from Corbin, Ky., to a point in Virginia, 46.5 miles distant ; on the line frcm Clarksville, Tenn., to Princeton, Ky., 52.70 miles, and on the Springfield Branch, 20.07 miles. Authorized issue, $3,500,000 at the rate of $15,000 per mile. Amount issued, $1,764,000 ; in sink- ing fund, $15,000 ; outstanding, $1,749,000. Nashville, Florence and Sheffield Bonds. — Secured by a first mortgage on the line from Columbia, Tenn., to Sheffield, Ala., 82.13 miles, and on the branches from Iron City to Pinkney, 11.78 miles, and from Summertown to Napier, 10.92 miles. The L. & N. RR. guarantees the bonds, both principal and interest. Louisville and Nashville-Mobile and Montgomery Joint 1st Mtge. Gold Bonds. — Secured on the property and assets of the Mobile and Montgomery Ry. Co. (See MANUAL, for 1897, page 502.) The authorized issue is $5,000,000, but $1,000,000 of bonds are reserved for extension, improvements, equipment and betterments to the Mobile and Montgomery Ry. Kentucky Central Ry. 1st Mtge. Gold Bonds. — Secured by first mortgage on 148.58 miles of rail- road owned in fee simple by the Kentucky Central Ry. Co. (Covington to Roundstone Sink, Ky., 151.78 miles, less 3.2 miles between Richmond and Ft. Estill, which is a leasehold) ; on thn proprietary interest of the Kentucky Central Ry. Co. in the Maysville and Lexington RR., Southern Division, from Paris to Lexington, Ky., 19 miles, and In the Maysville and Lexington RR., Northern Division, from Paris to Maysville, Ky., 49 miles ; and on the perpetual leasehold estate held by the Kentucky Central Ry. Co. in the Richmond Branch of the Louisville and Nashville RR. Co. The Kentucky Central Ry. Co. owns all the capital stock of the two Maysville and Lexington companies ; the Northern Division is subject to a mortgage securing $400,000 of 7 p. c. bonds maturing Jan. 1, 1906. The line between Roundstone Sink and Livingston, Ky., 3.34 miles, is owned by the Louisville and Nashville RR. Co. (the rails thereon are owned by the Kentucky Central Ry. Co.), certain lease- hold rights therein being leased to the Kentucky Central Ry. Co. at a rental of $3,045 per annum. The Richmond Branch of the Louisville and Nashville RR. is leased by the Kentucky Central Ry. Co., at an annual rental of $24,000 per annum, the lessee having the right to purchase the line at any time for $400,000. Paducah and Memphis Division Gold Bonds. — Secured by first mortgage on the Paducah and Memphis Division, 254.20 miles. The authorized amount is $5,000,000, of which bonds for $4,779,- 000 have been issued ; but of these $2,400,000 are deposited with the United States Trust Co. of New York, as security for the five-twenty collateral trust gold bonds, and $2,379,000 are in the treasury of the company. The remaining bonds, $221,000, are reserved for improvements. Unified Mortgage 50-year Gold Bonds. — Secured on the entire property and assets of the L. & N. RR. Co., of whatever description, but subject to prior liens. Of these there were on June 30, 1902, $18,758,660, to wit: $7,000 consol. mtge. bonds of April 1, 1898, $8,987,000 gen. mtge. bonds of June 1, 1930, $1,000 city of Louisville loan of Oct. 15, 1893, $1,764,000 1st mtge. 5 p. c. bonds of 1937, $5,000 Memphis and Ohio sterling bonds of June 1, 1901, $1,996,660 Memphis, Clarksville and Louisville bonds, $1,845,000 Evansville, Henderson and Nashville Division bonds, $3,000 1st mtge. 304 POOR'S MANUAL — GULF AND MISSISSIPPI VALLEY GROUP. (of Jan. 1, 1897). $892,000 2d mtge.. and $3.258,000 gen. mtge. bonds of the L.. C. & L. Ry. Co. None of these prior liens can be extended, nor can further bonds be issued under any of the prior mortgages. In addition to an amount of bonds sufficient to retire all underlying bonds, the unified mortgage provided for $32,461,660 bonds (making a total of $76,000,000) to be issued for Improve- ments, extensions, and other purposes of the company ; those issued for extensions or for the pur- chase of other railroads to be at a rate not exceeding $32,000 per mile, including $7,000 per mile for equipment, and to become a lien, either by direct mortgage or collaterally, on the lines thus acquired. Under this provision the unified mtge. bonds have become a direct first mortgage on the following lines : Cumberland Valley Branch, extension from a point 46.5 m. from Corbin, Ky., to Norton, Va., 70.94 m. ; Clarksville Mineral Branch, 38.03 m. ; New and Old Decatur Belt and Terminal, 3.62 m. ; Shelby Cut-off, 8.51 m. ; Montgomery and Prattville RR., 10.35 m. ; Sheffield and Tuscumbla RR., 2.63 m. ; Middlesborough RR., 13.15 m. ; Wilton Branch of Knoxville Division, 3.97 m. ; Shelby- ville, Bloomfleld and Ohio RR., 26.72 m. ; Cumberland River and Tennessee RR., 12.62 m. ; Bir- mingham, Selma and New Orleans Ry., 60.25 m. ; Alabama and Florida RR., 100.38 m. — total, 351.12 miles. The bonds are additionally secured by deposit of securities of proprietary and other companies as follows : Par Value. Ledger Value. Ala. M'n', RR. Co., 4 p.c.bonds $3,150,000 $1,650,010 00 15,000 shares L, C. * L. Ry. pre- 1 j 500 000 ) Par Value. Ledger Value 395 sh. Hend. Belt RR. stock. . .. $19,750 $19,750 00 11,785 6-50 sh. Shelby RR. rtock . . 589,256 160.744 87 9,850 shares L..C.4L. Ry., com- 1 985000 [ W'*'* Totals $29,183.606 $16,648,086 2fl 20,000 shares S. 4 N. Ala. RR., 1 2 000 000 ) Deduct the cost of the following securities, which having been added to the cost of the road, ia deducted from this account, viz.: L., C. 4 L. Ry. stock. $3,052,574 81 1U74 shares S. 4 N. Ala. RR., 1 , 1274nn f 1-125-50069 common stock ) 1-UY'*W 29,397 sh. Mob.&Mont, Ry. stock. .. 2,939,700 3,272,906 12 38,850 sh. N. 0. M. 4 T. RR.stock . 3,985,000 9,800 sh. S. E. 4 St. L. Ry. stock . . 980,000 294,000 00 55,015 sh. N., C. 4 St. L. Rv. stock. 5,501,500 5,355,538 75 9634sh 0 4N.Ry stock 963,400 250,72848 Ala. M'n'l RR. bonds 1,650,010 00 Stock . 225 010 00 Mob. 4 Mont. Ry. stock 3,272,906 12 S. E. 4 St. L. Ry. stock. 294,000 00 5,010 sh. Hend. B'dge Co. stock . . 501,000 501,000 00 2,850 sh. Pensacola RR. stock. . . . 285,000 2,850 00 1,000 sh. Louisv. Ry. Tr. stock. . . . 100,000 47,062 54 19,726 sh. Birm. M'n'l RR. stock . . 1,972,600 690,410 00 19,090 sh. Ala. MV1 RR. stock 1.969,000 225,01000 6,150sh. N., F. 4S. Ry. stock. . . . 615,000 15. " Monon " Purchase Joint Gold Hi Pensacola RR stock 285000 Henderson Belt RR. stock 19.750 00 Louisv. Ry. Transfer stock. . . 47,062 54 Shelby RR. stock 160,744 87— 8,724,908 84 Balance as per general balance sheet $7,923, 177 92 »nds. — After June 30, 1902, $11,683,000 of the 4 p. c. 50-year Joint bonds of this company and the Southern Ry. Co. were issued in payment for $3,800,000 of the $5,000,000 preferred stock and $9,696,900 of the $10,500,000 common stock of the Chicago, Indianapolis and Louisville Ry. Co., on the terms stated In Section 2. The authorized Issue Is $15,500,000, of which bonds amounting to $1,817,000 are set aside to be used In acquiring the re- maining shares of the common and preferred stock of the Chicago, Indianapolis and Louisville Ry. Co., while the remaining $2,000,000 are reserved for the betterment, Improvement and enlargement of that company's property. The bonds reserved for betterments, etc., are to be issued under care- fully guarded restrictions and at a rate not to exceed $500,000 a year. The bonds are secured by de- posit of the shares against which they were Issued, those shares being owned one-half each by the Louisville and Nashville RR. Co. and the Southern Ry. Co. Each cf those companies Is liable for one-half of the bonds, principal and interest, and each of them must bear one-half of all other obli- gations imposed by the indenture under which the bonds were issued. Should either company default in its obligations to the other in respect of the bonds, the deposited stock belonging to the defaulting company shall become the property of the company not in default, which thenceforth shall become liable In severally upon all covenants contained in the bonds. It Is provided that the C., I. & L. Ry. Co. shall not execute or issue any bonds except for the refunding of its existing obligations, or for the acquisition of additional property, or for betterments, improvements or other lawful purposes, and that no proceeds of any bonds to be issued by the C., I. & L. Ry. Co. can be used to pay any part of the joint bonds, unless all such joint bonds shall then be paid. The bonds may be called for re- demption on any 1st of Jan. or 1st of July, after 1907, at 105 p. c. and accrued interest ; but not less than $1,000,000 shall be called at any one time, nor shall any of the registered bonds be called until all the coupon bonds have been redeemed or called for redemption. The bonds may be issued either In coupon or registered form, the coupon bonds to be of the denomination of $1,000 and the regis- tered bonds in denominations of $1,000, $5,000, $10,000 and multiples of $10,000. Coupon bonds may be registered as to principal alone or may be exchanged for fully registered bonds. Principal and interest are payable in gold, free of all taxes. Trustee and registrar of bonds : Standard Trust Co., New York, N. Y. 16. New Collateral Trust Bonds. — An Issue of $30,000,000 of 4 p. c. gold bonds, to mature on April 1, 1923, has been authorized, and it is expected that $23,000,000 of them will be Issued during 1903, partly to take up the $7,500,000 of five-twenty collateral trust bonds called for redemption April 1, 1903, and partly for the general purposes of the company. The bonds will be subject to redemption after five years at the option of the company. They will be secured by deposit of $24,000,000 unified mortgage bonds (of which $8,250,000 are in the treasury, $8,400,000 are pledged for the five-twenty bonds and $7,350,000 are to be received from the trustee), $4,779,000 Paducah and Memphis Division bonds, $2,500,000 Louisville and Nashville Terminal Co.'s bonds, $4,221,000 South and North Alabama RR. 5 p. c. bonds and $500,000 Pensacola and Atlantic RR. 1st mortgage bonds — a total of $36,000,000. 17. Guaranteed Honda. — The Louisville and Nashville RR. Co. guarantees $3,130,190 sterling 6s and $4,771,000 consol. 5s of the South and North Alabama RR. Co. (see statement for that road in Sec. 20). 18. Construction Account. — The construction account was closed July 1, 1894, since which date the items which had been charged to that account have been charged to operating expenses under the sub-account of Improvement Account. The amount so charged during the year ending June 30, 1902, was $1,487,277.19. During the same period the cost of road was charged with $2,- 723,586.86, expended on various parts of the system as follows : Main stem, $1,059,362.16 ; Mem- phis Line, $120.55 ; Southern Alabama RR., $150,121.68 ; Louisville, Cincinnati and Lexington Ry.. $128.48; Shelby Cut-off, $130.10; Alabama and Florida RR., $213,032.83; purchase of other rail- POOR S MANUAL — LOUISVILLE AND NASHVILLE RR. CO. 305 roads (Shelbyville, Bloomfleld and Ohio, $250,000; Cumberland River and Tennessee, $50,000; Birmingham, Selma and New Orleans, $819,936.52; Shelby RR., $180,754.54), $1,300,691.06. There were credits amounting to $1,401,261.27, of which $1,397,328.37 represented the cost of tho Cecilia Branch. 19. StocUa and Bonds Owned. — The following is a statement of the stocks and bonds owned by the Louisville and Nashville RR. Co. on June 30, 1902, showing the amounts held In the treasury of the company and the amounts deposited in trust : STOCKS. Ala AFla RR Held in Treasury. $ 364,000 Deposited in Trust. $ STOCKS. Pensacola RR Held in Treasury. 15,000 748,400 46,100 46,100 12,500 3,550 8,900 38,600 Deposited in Trust. $ 285,000 Ala Mineral RR 1,969,000 Pontchartrain RR Atlanta Belt Line 200,000 2,994,000 1,498,000 5,000 25,000 32,500 455,000 300,000 300,000 199,700 25,000 10,000 25,000 50,000 300,000 17,275 662,200 10,000 82,300 250 437,000 100,000 6.908,807 28,000 10,000 3,300 100,000 15,000 60,666 50,000 Republic I. A Steel Co., com Atlanta, Knox., & No. Ry., com . . Atlanta, Knox., A No. Ry., pref. . . Republic I. A Steel Co., pref St. L. A Tenn. Riv. Packet Co. . . Shelby RR 589,256 Shelbyv., Bloomf. A Ohio RR. . . So. A No. Ala. RR., com So. A No. Ala. RR., pref Augusta Belt Rv "i.972)606 1,127,400 2,000,000 Birm. Mineral RR So. Car. A Augusta RR 5,000 241,000 19,200 50,000 50,000 21,750 205,800 48,300 S. C. Terminal Co Birm Selma A N 0 Ry South East A St. L Ry 980,000 Cent. Transf . Ry. A Storage Co Clear Fork RR Southern Ala. RR Stouts Mountain RR Tenn. River Packet Co Term. RR. Assn. of St. L. Whitley Coal Co Cumb River & Tenn. RR Elkton & Guthrie RR Totals Fla A Gulf Land Co 22,192,757 12,003,280 26,033,606 14,998,076 3,150,000 3,929,000 Goodlettsville A Greenbrier RR . . Gulf Transit Co Ledger Value .... BONDS. Alabama Mineral RR Henderson Belt RR 19,750 501,000 Jellico Bird Eye A No. Ry Birm. Mineral RR . Cent. Transf. Ry. A Storage Co. . .. City of Bowling Green 9,000 3,000 25,000 22,000 4,704,000 2,379,000 733,000 803,000 2000000 Ky Public Kiev. Co Knox, La Follette A Jellico RR . . . Lex. Terminal RR (Ga.) Elkton A Guthrie RR Gainesv., Jeff. A So. RR., 2d LAN unified mtge LAN Terminal Co 8.725,000 2,400,000 985,000 1,500,000 L. A N. Pad. A Mem. Div LAN., 5-20 coU.tr L. A N. Pen. A Atl. RR Louis.. Cin. A Lex. Ry., pref Louis., Har. Cr. A Westp. RR Louisville Property Co 100,666 L. A N Terminal Co Louisville Ry. Terminal Co Muhlenberg County, Ky 35,000 1,000 Long Branch Coal RR 50,000 50,000 552,000 15,000 11,100 125,000 1,971,600 1,676.100 Nash., Chatt. A St. L. Ry. 1,200,000 Middleborough RR . . Pen A Atl RR 1 g 516,000 43,000 Milledeeville Ry Sloss Iron A Steel Co 2,939,700 So A No Ala RR 2d . . 2,000,000 500,000 Mont. A Prattville RR So A No Ala RR cons . 826,000 300,000 11,564 Nashville A Decatur RR So. Div. Cumb. A Ohio RR Nash Chatt ASt L Ry 5,501,500 615,000 Totals New A Old Dec. Belt A Term N 0 Mobile A Texas Ry 6,300 15,000 500,000 200,000 193,125 ,ies owned, 12,410,564 12,392,541 21,904,000 20,404,010 3,985,000 North Alabama RR Grand Totals Oneonta A 8. FUNDED DEBT, June 30, 1902, consisted of $3,130,190 (£645,400) sterling sinking fund 6s of May 1, 1903 ; $2,000,000 2d 6s of April 1, 1910, and $4,771,000 consol. gold 5s of Aug. 1, 1936. The trustees of the sterling mtge. bonds hold for the sinking fund $1,084,000 of bonds ($235,000 L. & N. 5 p. c. trust bonds, $5,000 Pensacola Div. 1st mtge. 6 p. c. bonds, $38,000 L. & N. gen. mtge. bonds, $180,000 Pensacola and Atlantic RR. 1st mtge. 6 p. c. bonds, $494,000 L. & N. unified mtge. bonds, $117,000 So. & No. Ala. RR. consol. mtge. bonds, and $15,000 sterling mtge. bonds), besides $1,167.98 cash uninvested. The 2d mtge. bonds are pledged with the Union Trust Co., trustee, as part secur- ity for the 6 p. c. 30-yr. sinking fund bonds of the L. & N. RR. Co. The authorized issue of consols, is $10,000,000, a sufficient amount being reserved to discharge prior liens. CORPORATE OFFICERS. — M. H. Smith, Pres., Louisville, Ky. ; J. M. Falkner, Vice-Pres., Mont- gomery, Ala. ; G. W. Craik, Sec., Montgomery, Ala. ; W. \V. Thompson, Treas., Louisville, Ky. Office, Montgomery, Ala. 21. RAILROADS LEASED OB OPERATED UNDER AGREEMENTS BY THE L. & N. RR. Co. THE RESULTS FROM WHOSE OPERATION ABE NOT INCLUDED IN THE INCOME ACCOUNT. ELKTON AND GUTHRIE RR Elkton, Ky., to Elkton June., Ky., 10.92 miles. HISTORY. — Chartered in 1884 ; road opened Feb. 1, 1885. Operated by the Louisville and Nashville RR. Co., under an agreement giving the net earnings to lessor. FINANCIAL STATEMENT. — Capital stock, $47,372; funded debt (1st mtge. 7s of 1905), $25.- 000 — total stock and bonds, $72,372, representing cost of road, etc. The L. & N. RR. Co. owns $17,275 of the capi- tal stock and all the bonds. CORPORATE OFFICERS. — Ben. T. Perkins, Jr., Pres. ; J. O. Street, Sec. & Treas., Elkton, Ky. GLASGOW RY — Glasgow June, to Glasgow, Ky., 10.5 m. ; total track (steel), 10.87 miles. HISTORY. — Reorganization of the Glasgow RR., whose road was sold in 1899. (See MANUAL for 1893, page 494.) Since the road was built it has been leased to the L. & N. RR. Co., for terms of 5 years ; present lease expires in 1907. FINANCIAL STATEMENT. — Capital stock, $100,000 ; funded debt, $60,000 4 p. c. bonds, pay- able in 20 years, with option of calling in same after 5 years. CORPORATE OFFICERS. — H. C. Trigg, Pres. ; W. L. Porter, Vice-Pres. ; Paul D. Trigg, Treas. ; T. P. Dickinson, Sec., Glasgow, Ky. 22. LEASED JOINTLY BY THE L. & N. RR. Co. AND THE N., C. & ST. L. RY. LOUISVILLE AND NASHVILLE TERMI- NAL CO — Chartered in March, 1893. The com- pany owns a union station, freight stations and other terminal facilities in Nashville, Tenn. The property is leased jointly by the L. & N. RR. Co. and the N., C. & St. L. Ry. at a rental of 4 p. c. per annum upon the cost, the proportion paid by each company being determined by its use of the property and the number of cars handled. The operating expenses are divided upon the same basis. FINANCIAL STATEMENT. — Capital stock ($100 shares), $100,000. Funded debt outstanding June 30, 1902, $2,000,000 1st gold 4s of May 1, 1946. The $2,000,000 4s of 1946 have been retired since the close of the fiscal year and $2,500,000 of a to- tal authorized of $3,000,000 50-yr. gold 4s have been issued. The bonds are guaranteed by the Louis- ville & Nashville RR. Co. and by the Nashville, Chattanooga & St. Louis RR. The stock is de- posited as collateral to the unified mtge. bonds of the Louisville & Nashville RR. Co. and the bonds are deposited as collateral to the new 4 p. c. bonds of 1923. CORPORATE OFFICERS. — E. C. Lewis, Pres., Nashville, Tenn. ; J. H. Ellis, Sec. ; W.W. Thomp- son, Treas., Louisville, Ky. Office, Nashville.Tenn. 23. RAILROAD PURCHASED BY THE L. & N. RR. Co. AFTER JUNE 30, 1902. YELLOW RIVER RR Crestyiew, Fla., to Florala, Ala., 27 m. ; Woods to Simpson, Fla., 5 m. — total, 32 m. ; total track ( steel ; 30 and 56 Ibs.), 35 miles. Gauge, 4 ft 8J in. Locomotives, 3. Cars — passenger, 2 ; freight ( box, 1 ; flat, SO ) , 31 — total, 33. Chartered, in Dec., 1887. Com- menced business in May, 1888, as an incorporated logging road, but was opened for regular freight and passenger traffic in May, 1894. Connection is made at Crestview with the Louisville and Nashville RR., and that company supplies cars for the transportation of all freight sent over its lines by this company, besides supplying pas- senger coaches for special occasions. Purchased by the Louisville and Nashville RR. Co. in Nov., 1902. Capital stock ($100 shares), $50,000; funded debt (1st 4s of Jan. 1, 1919), $150,000 — total stock nnd bonds, $200,000. (See MANUAL for 1902 page 264.) DIRECTORS. — E. O. Saltmarsh, F. C. Brent, W. A. Blount, Pensacola, Fla. Officers : E. O. Saltmarsh, Pres. ; F. C. Brent, Sec. & Treas., Pensacola, Fla. ; C. H. Gordon, Aud., Laurel Hill, Fla. Office, Laurel Hill, Fla. POOR'S MANUAL OF RAILROADS. 30? 24. Board of Directors, L. & N. RR. Co., elected December 17, 1902. H. WALTERS, Chairman of the Board .New York, N. Y. W. G. RaouL.New York, N. Y. Milton H. Smith.Louisville, Ky. H. Walters ....New York, N. Y. John I. Waterbury " Attilla Cox Louisville, Ky. W. Delano, Jr. . E. Orange, N. J. W. G. Elliott. .. Baltimore, Md. R. G. Erwin..New York, N. Y. Mich'l Jenkins, Baltimore, Md. D. P. Kingsley.New York, N.Y. G. M. Lane Boston, Mass. W. G. Oakman..New York, N.Y. M. H. SMITH, President Louisville, Ky. 1st Vice-Pres. — Walker D. Hines. Louisville, Ky. Zd Vice-Pres. — A. W. Morriss New York, N. Y. 3d Vice-Pros. — W. J. Dickinson.. Louisville, Ky. Treasurer. — Wm. W. Thompson... Louisville, Ky. Secretary. — J. H. Ellis " Comptroller. — Charles Haydon ... " " PRINCIPAL OFFICE AND ADDRESS Corner Main and Second Sts., Louisville, Ky. New York Office Equitable Building, 120 Broadway. ATLANTA, KNOXVILLE AND NORTHERN RAILWAY COMPANY. (Controlled by Louisville & Nashville KB. Co.) 1. Main Line Owned. — Marietta, Ga., to Knoxville, Tenn 203.85 miles. Murphy Branch: Blue Ridge, Ga., to Murphy, N. C 23.45 " TRACKAGE: Southern Ry.: Bridge Junction to Knoxville, Tenn 0.84 " • JL ^ ' _^__ Total length of line operated June 30, 1902 228.14 miles. Sidings, etc., 21.53 miles. Gauge, 4 ft. 9 in. Rail (steel; 248.83 m.), 60, 80, and 85 Ibs. 2. History. — Chartered June 4, 1896, as successor to the Marietta and North Georgia Ry. Co. (see MANUAL for 1894, page 176). This company is controlled by the Louisville and Nashville RR. Co. through ownership of a majority of the preferred and common stocks. 3. Rolling Stock, June 30, 1902. — Locomotives, 22. Cars — passenger, 12; combi- nation, 1; baggage, mail, and express, 4; freight (box, 25; flat, 113; stock, 6; coal, 64; gondola, 45), 253; service cars, 42 — total cars, 312. Also 1 pile driver. 4. Operations, year ending June 30, 1902. — Train mileage — passenger, 161,684; freight, 340,650 ; mixed, 18,246; other, 128,070 — total, 646,650 miles. Passengers carried, 136,594; carried one mile, 3,824,632; average mile rate, 0.75 cent. Tons freight moved, 448,231; moved one mile, 40,564,905; average ton-mile rate, 1.21 cents. Earnings — Passenger $102,82071 Expenses— Maint. of Way and Struc $107,10130 Freight 487,42286 Mail and Express 25,99571 Miscellaneous 4,92957 Total ($2,722.95 per mile.) $621,16885 Maintenance of Equipment. 67,16755 Conducting Transportation . . 188,957 05 General Expenses 28,89001 Total ( $1,575.84 per mile. ) $392,115 91 Net earnings (36.88 p. c.), $229,052.94. Payments: Interest on funded debt, $56,- 608.93; other interest, $30,983.21; taxes, $21,928.79— total, $109,520.93. Surplus, $119,- 532.01. 5. Profit and LOSS Account, year ending June 30, 1902. — Balance at debit, June 30, 1901, $423,882.25; discount on consol. 1st mtge. bonds, $47,500; old accounts, $51.16; improvements, $196,330.83 — total, $667,764.24. Contra: Surplus income, year ending June 30, 1902, $119,532.01; proceeds of consol. 1st. mtge. bonds, $500,000; collection old accounts, $16.81; balance at debit, June 30, 1902, $48,215.42 — total, $667,764.24. G. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $6,000,000 00 Consol. Mtge. Bonds (subject to call).. 780,00000 Consol. Mtge. Bonds (to retire 1st 5s) . 1,000,00000 Materials and Supplies 35,63966 Cash and Current Assets 31,67292 Profit and Loss 48,21542 Total Assets $7,895,52800 Common Stock ($100 shares) $3,000,00000 Preferred Stock ($100 shares) 1,499,00000 Funded Debt Outstanding 3,281,000 00 Certificates of Indebtedness 11667 Loans and Bills Payable 15,00000 Current Liabilities 74,434 69 Interest Accrued, not Due 10,?33 3] Taxes 8,53528 Other Liabilities 6,60805 Total Liabilities $7,895,52800 308 POOR'S MANUAL — GULF AND MISSISSIPPI VALLEY GROUP. 7. Capital Stock. — The authorized share capital consists of $3,000,000 common stock and $1,500,000 preferred stock ; all of the former and $1,499,000 of the latter have been issued. The Louisville and Nashville RR. Co. owns $2,998,000 of the common stock and $1,499,000 of the pre- ferred stock. The preferred stock was issued to retire a like amount of 2d mtge. bonds, dollar for dollar. It has priority over the common stock for dividends at the rate of 5 p. c. per annum, non- cumulative. 8. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of $1,000,000 1st gold 5s of Dec. 1, 1946 ; $2,280,000 consolidated gold 4s of March 1. 1902, and $1,000 2d mtge. income bonds of 1946. The consol. 4s were issued for the purpose of retiring the $1,000,000 1st mtge. 4s and for improvements to the property. The United States Trust Co., as trustee, holds $1,- 780,000 of these bonds, $1,000,000 to retire 1st mtge. bonds at maturity and $780,000 subject to cell. 9. Directors.— Milton H. Smith, J. H. Ellis, Louisville, Ky.; Alex. W. Smith, Henry S. Johnson, George M. Brown, T. A. Hammond, Atlanta, Ga. ; J. H. Ringgold, Knoxville, Tenn. MILTON H. SMITH, President Louisville, Ky. J. H. Ellis, Vice-President and Gen. Manager Knoxville, Tenn. Sec. d Treas. — H. W. Oliver Knoxville, Tenn. | Asst. Sec. — Victor L. Smith Atlanta, Ga. PRINCIPAL OFFICE AND ADDRESS Knoxville, Tenn. New York Office 120 Broadway, Manhattan. LOUISVILLE, HENDERSON AND ST. LOTJIS RAILWAY COMPANY. 1. Main Line Of Road. — Henderson to West Point, Ky.. 121.4m. Fordsville Branch: Irvingtoh to Fordsville and Falls of Rough, Ky. 43.8 m. TRACKAGE: Illinois Central RR.: Louisville to West Point, Ky 20.8 m. — 186.0 miles. Sidings, etc., 18.15 miles. Gauge, 4 ft. 9 in. Rail (steel), 56, 60, 70, and 75 Ibs. 2. History. — Reorganization. May 29, 1896, of the Louisville, St. Louis and Texas Ry. Co. (See MANUAL for 1896, page 231.) Grading is partly completed on proposed extension of main line from West Point to connection with the Louisville and Nashville RR., a distance of 16.7 miles. 3. Rolling Stock, June 30, 1902. — Locomotives, 19. Cars — passenger, 15; bag- gage, mail, and express, 5; freight (box, 431; flat, 51; stock, 52; coal, 197), 731; service, 1— total, 752. 4. Operations, year ending June 30 1902. — Train mileage — passenger, 379,708; freight, 291,079; mixed, 68,000 — total, 738,787 miles. Passengers carried, 261,873; carried one mile, 11,374,700; average mile rate, 2.27 cents. Tons freight moved, 476,640; moved one mile, 44,633,382 ; average ton-mile rate, 0.90 cent. EARNINGS; 1900-01 1901-02 Passenger $246,637 40 $259,289 73 Freight. 386,316 93 401,603 33 Mail and Express 34,56008 34,20655 Miscellaneous 97000 96483 Totals $668,48441 $696,06444 Averages per Mile 3,59400 3,74228 EXPENSES. 1900-01 1901-02 Maint. of Way and Structures $85,076 23 $96, 175 78 Maintenance of Equipment 59,36623 74,85667 Conducting Transportation !ft)8,832 82 314,109 28 General Expenses 26,92736 30,62827 Totals. . . . . .$470,202 64 $515.770 00 Averages per Mile 2,52797 2,77296 Net earnings 1901-02 (25.90 p. c.), $180,294.44. Payments: Interest on funded debt, $110,000; taxes, $16,000; improvements, $37,941.40— total, $163,941.40. Surplus, $16,- 353.04; surplus forward, $40,543.60— total, $56,896.64. Deductions during year, $22,- 436.19. Surplus, June 30, 1902, $34,460.45. 5. General Balance Sheet, June 30, 1902. Cost of Road and Fixtures $5,776,927 34 | Common Stock ($100 shares) $2,000,000 00 Value of Rolling Stock 452,320 55 Materials and Supplies 20,31894 Bills Receivable 7,50000 Current Accounts 12,372 93 Cash on Hand 85,06879 Investment in Coal Lands 18,693 73 July Vouchers Paid 384 27 Total Assets $6,373,58655 Preferred Stock ($100 shares) 2,000,00000 Funded Debt Outstanding (see below) 2,200,000 00 Interest Accrued 57,05000 Current Liabilities 73,80640 Taxes Accrued 8,269 70 Profit and Loss. .. 34,46045 Total Liabilities $6,373,58665 6. Capital Stock and VotliiK TruHt. — The capital stock authorised is as shown on the general balance sheet. Preferred stock is entitled to 5 p. c. non-cumulative dividends, before any POOR S MANUAL OF RAILROADS. 309 dividend can be paid on common stock. The capital stock is deposited with John J. McCook, Bray- ton Ives, and Oscar Penley, as voting trustees, under an agreement to endure until May 29, 1906, or until the trust shall be terminated by an instrument in writing, signed by each of the trustees. In lieu of the shares there have been issued negotiable trustee certificates, entitled to all dividends declared. 7. Funded Debt. — The funded debt consists of 1st gold 5s of Jan. 1, 1946, secured by mort- gage covering all the property of the company, including equipment. Provision is made for the issue of $300,000 additional bonds (making $2,500,000 in all) for the extension of the main line to Louis- ville, or for such other absolutely necessary improvements as may be approved by the board of trustees. 8. Directors (elected Sept. 2, 1902). — Attilla Cox, Harry Weissinger, Oscar Fen- ley, John Doerhoefer, S. A. Culbertson, J. D. Stewart, J. D. Powers, Louisville, Ky. ; John H. Barret, Henderson, Ky. ; Charles B. Van Nostrand, New York, N. Y. ATTILLA Cox, President Louisville, Ky. Harry Weissinger, V 'ice-President Ridgeley Cayce, Secretary Treasurer — H. V. Sanders Louisville, Ky. | Auditor — G. H. Lamkin Louisville, Ky. PBINCIPAL OFFICE AND ADDRESS Louisville, Ky. NASHVILLE, CHATTANOOGA AND ST. LOUIS RAILWAY. (For map of this system, see page 311.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Balance Sheet, 1896-1902 10 Directors and Omcers 14 Earnings, Expenses, etc 8 Funded Debt. Description of. 11 Gen. Bal. Sheet, June 30, 1902 9 History ,8 Income Acct., June 30, 1902. . 8 Income Acct., 1896-1902 10 Income Mortgage Bonds 12 Joint Lease 4 Leased Line, Statement of . . 13 Marine Equipment 7 Mileage Oper'd. June 30, 1902 1 Operations & Inc., 1896-1902.. 10 Op. Earn. & Ex., June 30, 1902. 9 Rolling Stock 6 Terms of Leases 3 Trackage Contracts 5 1. Mileage Operated, June 30, 1902. — A. LINES OWNED (total, 804.84 miles). Main Line: Chattanooga, Tenn., to Hickman, Ky 320.21 miles. Shelbyville Branch: Wartrace, Tenn., to Shelbyville, Tenn 8.01 Scquatchie Valley Branch: Bridgeport, Ala., to Pikeville, Tenn 63.13 f'ayetteville and Columbia Branch: Decherd to Columbia, Tenn 86.47 Hvntsville Branch: Elora, Tenn., via Huntsville, Ala., to Tennessee River. . . 42.58 Gadsden Branch: Guntersville to Gadsden, Ala 37.63 McMinnville Branch: Tullahoma to Bon Air Coal Co.'s Mines, Tenn 69.54 Tracy City Branch: Cowan, Tenn., to Tracy, Tenn 20.73 Lebanon Branch: Nashville, Tenn., to Lebanon, Tenn 29.21 Centreville Branch: Dickson, Tenn., to Allen's Creek, Tenn 65.94 Rome RR. : Kingston to Rome, Ga 18.15 West Nashville Branch: Nashville, Tenn., to West Nashville, Tenn 6.26 Middle Tennessee d Alabama Div.: Fayetteville, Tenn., to Lax, Ala 36.98 B. LEASED LINES (total, 391.02 miles). Western d Atlantic RR.: Atlanta, Ga., to Chattanooga, Tenn 136.82 Paducah d Memphis Div. L. d If. RR.: (see subjoined statement) 254.20 Total length of lines operated, June 30, 1902 1,195.86 miles. Sidings (owned, 203.80 m.; leased, 94.08 m.), 297.88 miles. Gauge, 4 ft. 9 in. Rail (steel — owned, 941.33 m.; leased, 481.21 m. — total, 1,422.54 m.), 38 to 80 Ibs. 2. History. — Consolidation, in 1873, of the Nashville and Chattanooga RR. Co. and the Nashville and Northwestern RR. Co. The branches were built under separate charters, some of them by independent corporations, and were absorbed from time to time as shown in the MANUALS for 1888 and subsequent years. In 1880 the Louisville and Nashville RR. Co. acquired 55 p. c. of the capital stock of this company. 3. Terms of Leases. — The Western and Atlantic RR. is leased for 29 years from Dec. 27, 1890, at a rental of $35,001 per month. The Paducah and Memphis Division of the Louisville and Nashville RR. is leased for 99 years from Sept. 9, 1896, but the lease was not ratified until Sept. 12, 1900, in consequence of which the operations of the road previous to July 1, 1900, were not included in the accounts of this company. The annual 310 POOR'S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. rental payable under the lease is 5 p. c. on the cost of the road, and 5 p. c. additional on the cost of all improvements and betterments to the property. (See subjoined statement for Paducah and Memphis Division.) 4. Joint Lease. — The property of the Louisville and Nashville Terminal Co. is leased by this company and the Louisville and Nashville RR. Co., jointly, at a rental of 4 p. c. per annum on its cost, the proportion to be paid by each company to be determined by the property used, respectively, and the number of cars handled for each through the property leased. The operating expenses are to be divided upon the same basis. This company and the Louisville and Nashville RR. Co. jointly guarantee $2,500,000 4 p. c. bonds of the L. & N. Terminal Co. 5. Trackage Contracts. — The Southern Ry. Co. uses this company's tracks from Stevenson, Ala., to Chattanooga, Tenn., a distance of 38 miles, at a rental of $60,000 per annum, the contract to terminate on two years' notice by either party. Under an agree- ment to endure until Jan. 18, 1914, the Alabama Great Southern RR. Co. uses this com- pany's tracks from Wauhatchie to Chattanooga, a distance of 5 miles, at a rental of $14,400 per annum. 6. Rolling Stock, June 30, 1902. — Locomotives, 198. Cars — passenger, 137; bag- gage, 41; postal, 11; freight (box, 3,933; stock, 117; coal, 1,177; flat, 775; ore, 50; coke. 196; caboose, 232; gravel, 99; dump, 10), 6,589; other, 28 — total, 6,806. 7. Marine Equipment. — The company owns 2 steamers and 2 transfer barges, which are used on the Tennessee River between Hobbs Island and Guntersville, Ala., a distance of 20 miles, also a wharf boat at Paducah, Ky. 8. General Income Account, year ending June 30, 1902. Earnings— Passenger $1,606,476 06 Freight 5,872,896 14 Mail and Express 316,353 92 Miscellaneous 196,80478 Expenses — Maintenance of Way $1,385,717 39 Maintenance of Equipment. 1,033,27923 Conducting Transportation . 3,005,156 82 General 197,96084 Total ($6,688.31 per mile) $7,992,53090 Total ($4,704.70 per mile) $5,622,11428 Net earnings (29.66 p. c.), $2,370,416.62; add income from investments, $18,130 — total, $2,388,546.62. Payments: Interest on bonds, $952.090; other interest, $40,189.18; rentals, $625,878.14; taxes, $204,678.21; twenty-six W. & A. income bonds retired, $26,000; reserve for doubtful accounts, $15,000 — total, $1,863,835.53. Surplus, $524,711.09; surplus forward, $2,268,433.58; premium on bonds sold, $2.680; recovery of account previously written off, $2,500— total surplus, June 30, 1902, $2,798,324.67. 8a. Supplementary Income Account for the year ending June 30, 1903, and comparison with the year ending June 30, 1902. Gross Earnings 1903 9,606,37011 1902 7,992,53090 Operating Net Total Balance Expenses Earnings Interest Taxes Rentals Charges Surplus $ $ S $ $ $ $ 6,995,00365 2,610,76646 972,82753 210,64587 625,87800 1,809.35140 801,41506 5,022,11428 2,370,41662 992,27918 204,67821 625,87814 1,822,83553 547,58109 Increase 1,613,83921 1,373,48937 240,34984 D.19,451 65 5,96766 D. 014 D. 13,484 13 253,83397 Operating expenses for 1903 includes $1,127,068.07 expended on additions to property. 9. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $27,692,319 00 Securities Owned at Cost 986,39782 Real Estate 169,91478 Materials and Supplies 386,85401 Due from Station Agents 260,567 76 Notes Receivable Traffic Balances \ccounts Receivable Cash on Hand Unadjusted Claims Impr. Paducah and Memphis Div 10,910 67 83,977 07 281,035 16 603,942 06 55,683 41 177,047 35 Total Assets $30,708,64909 Capital Stock ( $100 shares) Funded Debt Outstanding ( see Sec. 11) Notes Payable Interest Accrued, Including July 1... Dividends Unclaimed Aud. Vouchers, Pay Rolls and Accts. Traffic Balances Reserve for Doubtful Accounts Profit and Loss $10.000,000 00 16,021,000 00 806,452 75 376,160 12 18,239 43 640,398 70 33,411 33 14,662 09 2,798,324 67 Total Liabilities $30.708,64909 Sis •fl \ *o =?,_/* rs jjsf * BK/PAiN \3r 1,129,698 > 1,082,871 Profit and Loss. 1505451 1 039 075 966674 1 171 688 1 669 325 2 268 434 2 798 325 Total Liabilities 28,495,717 28 578 309 29355609 29 765 671 30 213 945 30,481 178 30,708,649 Cost of Property 25 257 874 25 772 683 26 284 183 26 826 624 27 187 165 27 64S 957 27 692 319 Real Estate '127543 133 019 158205 '151*821 161 715 157065 169 915 Stocks and Bonds 1 662*047 1 168425 1 269405 1 257*405 1 231 405 1 012 398 986398 Supplies and Materials 299394 283 375 386632 237904 429695 378 178 386854 Assets and Accounts. . . . 501 851 551 060 507282 671*199 751 375 787734 869 221 Cash 64/008 669747 749*902 620718 452 590 496846 603942 Total Assets. 28 495 717 28578309 29 355609 29 765 671 30 213 945 30 481 178 30708649 11. Funded Debt — The funded debt outstanding on June 30, 1902 — total, $16,021,000, as per general balance sheet — consists of the several issues of bonds listed In the following statement. Ad- ditional particulars respecting any Issue will be found in the paragraph relating thereto subjoined to the statement : 1st 7s of July 1. 1913 $6,300.000 1st Jasper Br. Ext. 8s of Jan. 1, 1906 90,000 Ift Jasper Br. Ext. 6s of Jan. 1, 1923.... 371,000 1st Lebanon Br. 6s of Jan. 1, 1917 300,000 2d D. R. V. RR. 6s of Nov. 1, 1909 $22,000 1st Centreville Br. 6s of Jan. 1. 1923.. 37«,000 1st Tracy City Br. 6s of 1901-17 380,000 1st Consol. Gold 5s of April 1, 1928 7,432,000 1st D. R. V. RR. 6s of Jan. 1, 1917 750.000 First Mtge. Bonds of 1913. — Secured on the main line, 320.21 miles ; on the Shelbyville Branch, 8.01 miles, and on 12 miles of the Jasper Branch, from Bridgeport to Jasper. First Mtge. Bonds, Jasper Branch Extension. — The bonds of 1906 are secured on 7.5 miles of the Sequatchie Valley Branch, from Jasper to Victoria, Tenn. The bonds of 1923 are secured on the ex- tensions of the Sequatchie Valley Branch from Victoria to Inman, 5.5 miles, and from Victoria to Dunlap, 18 miles. First Mtge. Bonds, Lebanon Branch. — Secured on -the line from Nashville to Lebanon, tenn., 29.21 miles. POOR S MANUAL OF RAILROADS. 313 First Mtge. Bonds of 1917. — Secured on the McMinnville Branch, 69.54 miles, on the branch from Decherd to Fayetteville, 39.74 miles, and on the branch from Elora to Huntsville, 25.58 miles ; a total of 133.86 miles. The amount authorized is $6,000 per mile. Duck River Valley Bonds. — The 2d (now 1st) mtge. 6s of 1909 are secured on the Duck River Valley RR., from Fayetteville to Columbia, 47.92 miles. First Mtge. Gold Bonds, Centreville Branch. — Secured on 46.46 miles of the Centreville Branch, from Dickson to Lewis County Line, Tenn. Tracy City Branch Bonds. — The 1st mtge. Tracy City Branch 6s are payable $20,000 each 1st of Jan. to 1916, inclusive, and $100,000 on Jan. 1, 1917. They are secured on the Tracy City Branch, 20.73 miles. First Consol. Mtge. Gold Bonds. — Secured upon the entire property and franchise of the com- pany, whether now owned or hereafter acquired, subject only to the lien of the mortgages securing the several issues of divisional bonds described in the preceding paragraphs. For the retirement of such divisional bonds, at or before their maturity, an equal amount of the 1st consols is reserved by the trustee. It is provided in the mortgage that all underlying bonds must be paid at maturity, or whenever before maturity the entire amount of any series is acquired by the trustee ; but if only part of a series is acquired such part may be held alive by the trustee as additional security for the 1st consols as long as the rest of the series remains outstanding. The amount authorized by the mortgage is $20,000,000, to be issued at a rate not exceeding $20,000 per mile of completed railroad. All future issues of bonds secured by this mortgage, except for the purpose of retiring prior Hen bonds, must be authorized by vote of the stockholders given at a meeting called for the purpose ; and all new railroad or newly acquired railroad must be free from all prior liens before the lien of this mortgage can attach thereto. The bonds are now secured by first mortgage on the following lines : Dunlap to Pikeville, Tenn., 20.13 miles ; Sparta to Bon Air, Tenn., 6.75 miles ; West Nashville Branch, 6.26 miles ; Lewis County Line to Allen's Creek, Tenn., 19.48 miles ; Fayetteville, Tenn., to Lax, Ala., 36.98 miles ; Huntsville, Ala., to Tennessee River, 17 miles ; Guntersville to Oadsden, Ala., 37.63 miles; Kingston to Rome, Ga., 18.15 miles — total, 162.38 miles. 12. Income Mortgage Bonds, Secured on Least- of Western and Atlantic RR., etc. — Under date of Jan. 1, 1895, $650,000 of 5 p. c. gold income mortgage bonds were issued to reimburse the company for renewals and improvements made on the Western and Atlantic RR. There are $494,000" of these bonds in the treasury of the company ; the remaining bonds have been cancelled. The bonds are secured by mortgage or deed of trust on the net earnings and incomes of the Western and Atlantic RR., on the leasehold interest of the N., C. & St. L. Ry. in that road, on $500,000 in bonds of the State of Georgia deposited under the lease and on all property acquired or to be acquired by the N., C. & St. L. Ry. in connection with the lease. The bonds are for $1,000 each, in coupon form ; principal and interest payable in gold, in New York, N. Y. Trustee : Central Trust Co. of New York, N. Y. 13. RAILROADS LEASED BY THE N., C. & ST. L. RY. PADUCAH AND MEMPHIS DIV. I,. & N. RR Memphis, Tenn., to Paducah, Ky., 229.B9 m. ; branch, Perryville to Lexington, Tenn., 24.15 m. — total, 253.74 m. ; total track ( steel ; 56 and 60 IDS.), 279.05 miles. ROLLING STOCK. — Locomotives, 17. Cars — passenger, baggage and mail, 16 ; freight and other, 550 — total, 566. HISTORY. — Formerly known as Paducah, Ten- nessee and Alabama RR. and Tennessee Midland Ry. (See MANUAL for 1897, page 507.) Purchased in 1895 by Louisville and Nashville RR. Co., and operation assigned to the N., C. & St. L. Ry. Co. as of Jan. 1, 1896. Leased to the N., C. & St. L. Ry., at a rental equivalent to 5 p. c. on the cost of the road and 5 p. c. additional on the cost of all improvements and betterments to the prop- erty. WESTERN AND ATLANTIC RR At- lanta, Ga., to Chattanooga, Tenn., 136.82 m. ; total track, 198.22 miles. Rail (steel ; 136.82 m.), 68 Ibs HISTORY. — Built by the State of Georgia in 1841-50. Leased to the N., C. & St. L. Ry. for 29 years from Dec. 27, 1890, at a rental of $420,012 per annum. Estimated value of road and prop- erty at date of lease, $6,164,576. ROLLING STOCK. — Locomotives, 15. Cars — passenger, 25 : postal, 5 ; baggage, 7 ; freight (box, 16; coal, 100), 116 — total. 153. OPERATING OFFICERS. — J. L. McCollum, Supt. ; C. E. Harmon, Gen. Pass. Agt. ; J. A. Sams, Div. Fgt. Agt. Office, Atlanta, Ga. 14. Board of Directors, N., C. & 8t. L. Ry., elected September 10, 1902. J. W. Thomas. Nashville, Tenn. W. R. Cole A. H. Robinson " E. C. Lewis. .. E. W. Thompson " J. H. Fall Nashville, Tenn. J. Hill Eakin. J. C. Atwater.New York, N. Y. T. W. Evans. . J.E.WashingtonCedarHill.Tenn. N.C.Collier.Murfreesboro'.Tenn. J. G. Aydelott-Tullahoma, Tenn. J. B.Richardson.Nashville.Tenn. M. H. Smith Louisville, Ky. E. B. Wesley.. New York, N. Y. J. W. THOMAS, President Nashville, Tenn. Bee. A, Treas. — J. H. Ambrose Nashville, Tenn. I Gen. Mar. — J. W. Thomas, Jr Nashville, Tenn. Comptroller. — E. F. P'Pool Nashville, Tenn. PRINCIPAL OFFICE AND ADDRESS Nashville, Tenn. WESTERN RAILWAY OF ALABAMA. 1. Line of Road. — Selma, Ala., to West Point, Ga 132.01 miles. idings, 32.50 miles. Gauge, 4 ft. 9 in. Rail (steel), 56, 60, 60^, Q\y2, 70, and 80 Ibs. 2. History. — Successor, March 15, 1883, to the Western RR. of Alabama ( see MANUAL or 1886, page 453). 3. Rolling Stock, June 30, 1902. — Locomotives, 13. Cars— passenger, 15; bag- *ge, mail, and postal, 7 ; caf6 1 ; private, 1 ; freight (box, 154 ; flat, 43 ; stock, 15 ; coal, 57 ; 314 POOR S MANUAL GULF AND MISSISSIPPI VALLEY GROUP. refrigerator, 4; furniture, 98; caboose, 4), 375; service, 17 — total, 416. Of these, 91 box cars and 75 furniture cars are leased. The company owns one-half share in 1 dining car. 4. Operations, year ending June 30, 1902. — Train mileage — passenger, 225,190; freight, 157,938; mixed, 33,580; other, 18,238— total, 434,946 miles. Passengers carried. 269,363; carried one mile, 11,029,502; average mile rate, 2.50 cents. Tons freight moved, 585,689; moved one mile, 36,631,437; average ton-mile rate, 1.24 cents. EARNINGS. 1900-01 Passenger $263,233 18 Freight 465,001 44 Mail and Express 73,172 27 Miscellaneous 23,503 14 1901-02 $275,811 29 457,301 23 73,85400 25,583 49 Totals $824,910 03 Averages per Mile 6,24885 $832,550 01 6,30672 EXPENSES. Maint. of Way and Structures. . . Maintenance of Equipment Conducting Transportation General Expenses 1900-01 $153,813 72 102,863 39 242,592 30 35,437 78 1901-02 $132,415 71 94,831 46 238,76690 37,93302 Totals $534,707 19 $503,947 09 Averages per Mile 4,050 51 3,817 49 Net earnings, 1901-02 (39.47 p. c.), $328,602.92; other receipts, $4,331.20— total, $332,934.12. Payments: Interest on funded debt, $69,435; taxes, $31,030.75; reserve for improvements, $35,343.74; betterments to property, $52,743.44 — total, $188,552.93. Sur- plus, $144,381.19; surplus forward, $106,644.50— total, $251,025.69. Deduct dividends (4 p. c.), $120,000; taxes of former period, $10,964.63 — total, $130,964.63. Balance, sur- plus, June 30, 1902, $120,061.06. 5. Capital stock, bonded debt, revenues, etc., for eight fiscal years ending June 30: Years. 1895 Capital Stock. $ 3,000000 Bonded Debt. 1 $ 1,543 000 Cost of load, etc. $ 4,543,000 1896 3000000 1,543 000 4,543,000 1897 3000000 1 543*000 4'543'000 1898 1899 . 3,000,000 3000000 1,543,000 1,543 000 4,543',000 4,543,000 1900 3000000 1 543 000 4,543,000 1901 3,000,000 1,543,000 4543000 1902 .. 3,000,000 1,543,000 4,543,000 RR. Op- Gross Expense crated. Earn's. & Taxes. Miles $ $ 133.10 523,283 369,123 132.01 579,804 391,740 132.01 636,533 403,993 132.01 603,630 414,391 132.01 668,335 430,832 132.01 739,746 507,522 132.01 824,910 564,858 132.01 832,550 534,978 Net Net Interest Divid's Total Balance Farn's. Income. Paid. Paid. Paym'ts. (-for — ) $ $ 154,160 162,830 188,064 192,910 232,540 235,746 189,239 194,467 237,503 246,029 232,224 244,757 260,052 265,211 297,572 301,903 $ 69,435 69,435 69,435 69,435 69,435 $ $ $ 60,000 129,636 4-33,194 60,000 173,729 -f 19, 181 90,000 199,001 +36,746 102,169 +92,298 60,000 335,037 —89,008 69,435 210,000 280,577 —35,280 69,435 120,000 324,225 —59,014 69,435 120.000 277,522 +24.381 Franchise and Property $4,543,00000 Securities Owned 4,500 00 Real Estate 39,281 41 Materials and Supplies 67,47927 Current Accounts 122,741 31 Cash on Hand and on Deposit 308,799 10 6. General Balance Sheet, June 30, 1902. Capital Stock ($100 shares) $3,000,00000 Funded Debt Outstanding (see below) . 1,543,00000 Current Liabilities 211,416 66 Interest Accrued, not Due 17,358 75 Taxes Accrued, not Due 10,964 63 Reserve for Improvements 183,000 00 Profit and Loss 120,061 06 Total Assets $5,085,801 09 Total Liabilities $5,085,801 09 1. Funded Debt Funded debt consisted June 30, 1902, of 1st gold 4Js of Oct. 1, 1918. The bonds are guaranteed by the Georgia RR. and Banking Co., and the Central of Ga. Ry. Co., by whom the capital stock is jointly owned. Trustee : Metropolitan Trust Co., New York. 8. Directors (as constituted Oct. 10, 1901) .—Charles A. Wickersham, Atlanta, Ga.; H. Walters, Wilmington, N. C. ; J. M. Falkner, Montgomery, Ala.; L. Lanier, West Point, Ga.; R. M. Green, Opelika, Ala.; J. F. Hanson, Macon, Ga. ; Jno. M. Egan, Sa- vannah, Ga. CHARLES A. WICKERSHAM, President . Capitalization, cost ending June 30: of property and results from operation for five fiscal years Capital Bonded Cost of RR. Gross Expenses Net Years. Stock. Debt. Road, etc. Oper. Earnings. A Taxes. Earnings, $ $ $ Miles $ $ $ 1898.. 7,250.000 7,000,000 14,472,840 291.90 1,415,559 1,065,831 349,728 1899.. 7,250,000 7,000,000 14,451,519 291.90 1,519,334 1,212,544 306,790 1900.. 7,250,000 7,000,000 14,451,519 291.90 1,721,454 1,370,024 350,830 1901.. 7,250,000 7,000,000 14,451,519 291.90 1,754,148 1,358,8% 395,252 1902.. 7,250,000 7,000,000 14.451.519 291,90 1,893,410 1,425,368 468,042 Interest Total Balance. Bonds. Paym'ts. (-for — ) 280,000 287,136 -f 62,592 280.000 288,803 +17,987 280,000 283,805 467,025 280,000 281,331 -fl!3,921 280,000 280,185 4187,857 7. Directors (elected Sept. 16, 1902). — Term expires Sept., 1903: J. Edward Sim- mons, Daniel C. Tate, New York, N. Y.; S. C. Reynolds, Toledo, 0.; Ammi W. Wright, Alma, Mich. Term expires Sept., 1904: Wellington R. Burt, Saginaw, Mich.; Cyrus J. Lawrence, Franklin B. Lord, New York, N. Y. ; H. W. Ashley, Toledo, O. Term expires Sept., 1905: George J. Gould, A. W. Krech, Joseph Ramsey, Jr., New York, N. Y. JOSEPH RAMSEY, JB., President New York, N. Y. Cyrus J. Lawrence, V 'ice-President Secretary — D. C. Tate New York, N. Y. | Treasurer — H. B. Henson New York, N. Y. OFFICE AND ADDRESS Toledo, 0. POOR S MANUAL OF RAILROADS. 327 CHICAGO AND ALTON RAILWAY COMPANY (THE). INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 9 Directors and Officers 12 Earnings, Expenses, etc, 1902 5 Earnings, etc., 1901-1902 7 Funded Debt, Details of 10 Gen Bal. Sheet, June 30, 1902. 8 Gen. Bal. Sheet, 1901-1902.... 7 Income Acct., year 1901-1902. 5 History 3 Leased Lines, Statements of. 11 Lease Rental, C. & A. RR. .. 6 Mileage Operated 1 Operations, etc., 1901-1902 7 Rolling Stock 4 Track Mileage 2 1. Mileage Operated, June 30, 1902: A. LINE OWNED : Springfield to Grove, 111 57.56 miles. B. LEASED LINES (total, 844.71 miles) : Chicago and Alton RR.: (see separate statement, for details) 543.86 " Joliet and Chicago RR. : Joliet to Chicago, 111 37.20 " Kansas City, St. Louis and Chicago RR.: Mexico to Kansas City, Mo. .. 161.90 " Louisiana and Missouri River RR.: Louisiana to Cedar City, Mo 101.75 " O. TRACKAGE EIGHTS (total, 17.37 miles) : Toledo, Peoria and Western Ry.: Washington to Peoria, 111 11.50 " Peoria and Pekin Union Ry. : Grove to Peoria, 111 5.18 " Hannibal & St. Joseph RR. : Bridge Jc. to Union Depot, Kan. Cy., Mo.. 0.69 " Total length of lines operated, June 30, 1902 919.64 miles. 2d track, 110.06 m. ; sidings, 285.86 miles. Gauge, 4 ft. 8y2 in. Rail, 50 to 80 Ibs. 2. Track Mileage. — The following is a statement of track mileage owned and leased by the company on June 30, 1902, trackage rights being omitted. The lines are shown by operating divisions of the system and without reference to their ownership : Length of Line. Second Track. Side Tracks. Total Track. Steel Rails. Springfield, 111. to Grove, 111 M. 57.56 M. M. 10.30 M. 67 86 M. 67 86 Chicago 111. to East St. Louis, 111 279.95 110.06 170.70 560.71 560 71 Coal City Line — Joliet, 111., to Mazonia, 111 24.79 7.61 32.40 32 40 Dwight, 111., to Washington and Lacon, 111 80.50 7.65 88.15 88 15 Roodhouse 111., to Kansas City, Mo 251.17 64.33 315.50 315 50 Bloomington, 111., to Godfrey, 111 150.60 21.47 172.07 172.07 Godfrey, 111., to Wann, 111 7.60 1.02 8.62 8.62 50.10 2.78 52 88 52 88 902.27 110.06 2S5.86 1,298.19 1,298.19 2a. Additional Double Track. — In addition to the above, the line between Wann and East St. Louis, 17.85 miles, is operated jointly with the Cleveland, Cincinnati, Chi- cago & St. Louis Ry. Co. as a double track, each company owning and maintaining one track. This makes the actual second track mileage in operation 127.91 miles. The loop lines made by the Coal City Branch and Alton cut-off and San Jose-Sherman line make, for operating purposes, the equivalent of 85.3 miles more of double track, or a total of 213.21 miles. 2b. CMcagO-Peoria Line. — Under a contract that has been in effect since Sept. 29. 1895, the company runs trains daily between Chicago and Peoria, using the Chicago and Alton RR. between Chicago and Washington, 143.4 miles, and the Toledo, Peoria and Western RR. between Washington and Peoria, 12 miles. 3. History. — Incorporated under the laws of Illinois on April 2, 1900, and pur- chased the property of the St. Louis, Peoria and Northern Ry. Co. (see MANUAL for 1899. page 1422), between Springfield and Peoria, 111. The company also acquired more than 98 p. c. of the capital stock of the Chicago and Alton RR. Co. A lease of the Chicago and Alton RR. and leased lines, for a term of 99 years, was taken on April 3, 1900, this company agreeing to pay as rental ( 1 ) the interest on the bonds of the Chicago and Alton RR. Co. ; ( 2 ) the rentals payable by the Chicago and Alton RR. Co. under the leases of Joliet and Chicago RR., Kansas City, St. Loiiis and Chicago RR., and Louisiana and Missouri River RR. ; (3) taxes, and (4) the surplus net earnings of the leased properties. 328 POOR S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. 4. Rolling Stock, June 30, 1902. — Locomotives, 204. Cars — passenger (coach, 64; chair, 36; coach and chair, 4; coach, baggage, and mail, 24; cafe and smoking, 9; dining, 2), 139; baggage and mail, 50; freight (box, 4,679; stock, 753; coal, 4,103; flat, 550), 10,085; service, 261 — total, 10,535. There are included under the head of coaches, 3 road- way bunk cars and 3 miners' cars, and under the head of coal cars there are included 72 cinder cars. 5. General Income Account, year ending June 30, 1902. EARNINGS. Passenger $2,578,468 24 Freight 6,127,504 &8 Mail and Express 439,559 28 Miscellaneous 80,207 14 Total ( $10,031.90 per mile) $9,225,739 24 Net Earnings (34.71 p. c.) $3,201,81989 Dividends Received 1,525,62200 Miscellaneous Income 2,51708 Total Net Income $4,729,958 97 EXPENSES. Maint. Way and Structures $959,33073 Maint. of Equipment 1,042,078 41 Conducting Transportation 3,797,47529 General Expenses 225,034 92 Total ($6,550.30 per mile) $6,023,91935 Taxes and Other Expenses $348,157 86 Payments Under Lease 2,786,460 11 Interest on 1st Lien Bonds 770,000 00 Dividends on Preferred Stock (4 p. c.) 781,76000 Total Deductions $4,686,377 97 Surplus for year, $43,581; surplus to June 30, 1901, $456,576.03 — total, $500.157.03. 6. Payments Under Lease.— Interest on $32,000,000 C. & A. RR. Co. 3 p. c. re- funding bonds, $959,790; dividends on stocks of leased lines, $237,027; balance of net earnings, $1,589,643.11— total, $2,786,460.11. 7. Statement showing the results of operation and the general account for two fiscal years ending June 30 : 1901 1902 1901 1902 Miles Road Operated (aver.) 919.64 2,741,126 2,859,947 919.64 2,787,156 2,857,136 Net Tra^c Earnings $ 3,4-10,987 1,531,381 $ 3,201,820 1,528,139 Other Income Total Revenue Mileage. 4,972,368 330,427 3,023,033 770,000 (4) 781,760 4,729,959 348,158 2,786,460 770,000 (4) 781,760 5,601,073 2,353,228 132,887,965 4,6*5,120 823,069,718 $ 2,573,175 5,954,141 509,339 5,644,292 2,495,905 138,591,837 4,922,391 902,745,440 $ 2,578,468 6,127,505 519,766 Taxes and Other Expenses Preferred Dividends Total Payments 4,905,220 67,148 19,544,000 19,542,800 22,000,000 5,984,790 463,071 4,686,378 43,581 19,544,000 19,542.800 22,000,000 5,752,289 500,157 Balance Surplus Freight Preferred Stock Other Gross Traffic Earnings 9,036,655 5,595,668 9,225,739 6,023,919 Funded Debt Operating Expenses Other Liabilities 3,440,987 9,826 30 6,443 93 3,382 37 61.92 p.c. 1.94 c. 0.72 c. 3,201,820 10,031 90 6,55030 3,48160 65.29 p.c. 1.86 c. 0.68 c. Total Liabilities 67,534,661 61,148,812 292,738 6,093,111 67,339,246 61,152,660 456,073 5,730,513 Operating Expenses per Mile. . . . Expenses to Earnings Earnings per Pass, per Mile Total Assets 67,534,661 67,339,246 8. General Balance Sheet, June 30, 1902. Property and Investment Account $61,152,66001 Advances to C. & A. RR. Co. (net)... 4,490,94379 Materials and Supplies 456,07330 Cash on Hand. Current Accounts Contingent Assets 393,099 57 503,701 69 342,767 39 Preferred Stock Paid in $19,544,00000 Common Stock Paid in 19,542,800 00 Funded Debt Outstanding 22,000,000 00 Assets Taken Over from C.&A.RR.Co.. 3,409,680 20 Current Liabilities 2,237,90533 Deferred Liabilities 98,082 08 Renewal and Replacement Funds 6,62111 Profit and Loss 500,15703 Total Assets $67,339,24575 Total Liabilities $67,339,24575 0. Capital Stock — Capital stock authorized, $40,000,000, consisting of $20,000,000 pre- ferred stock and $20,000,000 common stock; shares, $100 each. Capital stock paid in (preferred, POOR'S MANUAL CHICAGO AND ALTON RY. CO. (THE). 329 $19,544,000; common, $19,542,800), $39,086,800. Preferred stock is entitled to 4 p. c. non-cumu- lative dividends, but to no further share of the yearly net profits. In case of liquidation or disso- lution of the company it has priority over common stock to the amount of its full par value, but is entitled to no further share of the assets. 1O. Funded Debt. — Funded debt, authorized and outstanding, consists of $22,000,000 1st lien gold 3|s of July 1, 1950, secured by deposit of practically all of the capital stock of the Chicago and Alton RR. Co., and by a direct first lien on the line from Springfield to Grove, 111., 57.43 miles. The bonds are redeemable on any interest day at par and accrued interest, on six months' notice. The capital stock of the Chicago and Alton RR. Co. owned by this company and deposited as addi- tional security under the first lien mortgage consists of $3,472,200 preferred stock and $38,322,400 common stock, out of a total issue of $3,479,500 preferred stock and $18,751,100 common stock. The first lien mortgage provides that the Chicago and Alton Ry. Co., as holder of the stock of the Chicago and Alton RR. Co., will not give its consent to the issue of any bonds under the refunding mortgage of the latter in excess of the $40,000,000 now authorized, except when such additional issue is ex- pressly authorized by a three-fourths vote of the entire board of directors of the Chicago and Alton RR. Co. and approved by a three-fourths vote of the entire board of directors of the Chicago and Alton Ry. Co. 11. RAILROADS LEASED BY THE CHICAGO AND ALTON RR. — Joliet to East St. Louis, 111., 242.75 m. ; Godfrey to Bloomington, 111., 150.6 m. ; Godfrey to Wann, 111., 7.6 m. ; Rood- house to Quincy June., 111., 37.62 m. ; Joliet to Mazonia, 111., 24.79 m. ; Dwight to Washington, 111., 70.5 m. ; Varna to Lacon, 111., 10 m. — total, 543.86 miles. Rail (steel), 60 to 80 Ibs. HISTORY. — Organized on Feb. 16, 1861, In pur- suance of a plan for reorganization of the St. Louis, Alton and Chicago RR. Co. (See MANUAL for 1884, page 664.) The Mississippi River Bridge Co. was absorbed on April 29, 1895. The Joliet and Chicago RR., the Kansas City, St. Louis and Chi- cago RR. and the Louisiana and Missouri River RR. are leased in perpetuity by this company on terms given in the statements for those roads. The Chicago and Alton RR., including the leased lines, is leased to the Chicago and Alton Ry. Co., for 99 years from April 3, 1900, at a rental equiva- lent to the surplus net earnings of the leased properties after deducting interest on this com- pany's funded debt, rentals of its leased lines, and taxes (see lessor's statement, Sec. 6). FINANCIAL STATEMENT. — This company has not published a balance sheet of later date than June 30, 1900, for which see MANUAL for 1901, page 663. At that date the capitalization of the company was as follows: Capital stock (com- mon, $18,751,100; preferred, $3,479,500), $22,230,600; funded debt, $40,584,850 — total, $62,815,450. The funded debt consisted of (1) $32,000,000 refunding gold 3s of Oct. 1, 1949; (2) $4,379,000 consol. gold 6s of July 1, 1903; (3) $1,663,000 sinking fund gold 6s of May 1, 1903 ; (4) $1,785,000 L. & M. R. 1st 7s of Aug. 1, 1900; (5) $300,000 L. & M. R. 2d 7s of Nov. 1, 1900; and (6) $457,000 M. R. Bridge 1st 6s of Oct. 1, 1912, guaranteed and assumed by the Chicago and Alton RR. Co. The refunding 3 p. c. bonds are secured on the entire corporate property and franchises of the company, subject to prior liens. The authorized issue is $40,000,000, but power is reserved in the mortgage to issue additional bonds, if duly authorized by three-quarters in interest of the stockholders, (a) for building, completing or acquiring extensions of the com- pany's railroad — such additional issue not to ex- ceed the rate of $20,000 per mile of main track, excluding sidings or switches, and to apply to not exceeding 500 miles of such additional main track; (b) for funding the rental obligations of RAILROADS LEASED TO Joliet and Chicago RR — Joliet to Chi- cago, 111. (double), 37.20 miles. Forms part of the C. & A.'s Chicago-St. Louis through line. Organized Feb. 15, 1855 ; opened July 4, 1856. Leased in perpetuity, Jan. 1, 1864, to the C. & A. Co. ; annual rental, 7 p. c. on stock, and $1,800 for organization expenses. Capital stock ($100 shares), $1,500,000. Cost of road, etc., $2,000,000. S. M. Felton, Pres. ; H. E. R. Wood, Sec. & Treas. Office, 407 Monadnock Bldg., Chicago, 111. K a ii N:I s City, St. Louis and Chlcagro RR. — Mexico to Kansas City, Mo., 161.82 miles. Rail (steel), 70 Ibs. Organized in 1877. Road opened throughout on CHICAGO AND ALTON RY. Co. the company upon its leased lines, and (c) for future betterments not exceeding $5,000,000, such issue to be at the rate of not exceeding $1,000,000 per annum, from and after Jan. 1, 1900. The mortgage securing the bonds will become an ab- solute first mortgage upon the payment of the underlying bonds of the company. From the pro- ceeds of the refunding bonds outstanding an amount sufficient for the retirement of the under- lying bonds has been deposited with the mortgage trustee. The unissued bonds are reserved for im- provements, betterments, extensions, etc. In ad- dition to being a direct mortgage lien on the prop- erty owned by the Chicago and Alton RR. Co., the refunding 3 p. c. bonds are also secured by deposit of the following bonds and stocks with the trustee under the mortgage : $3,000,000, being the entire issue, of 1st mtge. bonds of the Kansas City, St. Louis and Chicago RR. Co., subject to their pledge as security for the sinking fund 6 p. C. bonds ; $989,300 out of $1,010,000 preferred stock, and $2,269,800 out of $2,312,700 common stock, of the Louisiana and Missouri River RR. Co. ; $157,600 of the common stock ( out of a total share capital of $2,021,800) of the Kansas City, St. Louis and Chicago RR. Co. ; $300,000, being the entire capital stock, of the Mississippi River Bridge Co. ; $138,000 out of $447,000 1st mtge. bonds of the Mississippi River Bridge Co. ; $45,000 of the capi- tal stock (out of a total of $495,000) of the Union Depot Co. of Kansas City ; and $25,000 out of a total of $36,000 1st mtge. bonds of the Pawnee RR. Co. The consol. 6 p. c. sterling bonds (author- ized £1,600,000, or $8,000,000) are secured on main line and Washington Branch, 323.30 miles. The preferred stock is entitled to preference for divi- dends up to the rate of 7 p. c. per annum, non- cumulative, and to share pro rata with common stock in any dividend in excess of 7 p. c. per annum on the entire capital stock. BONDS RETIRED. — The L. & M. R. 1st and 2d mtge. bonds, and the C. & A. sinking fund 6s of May 1, 1903, were retired at maturity, and the C. & A. consol. 6s of July 1, 1923, were being re- tired when this part of the Manual was sent to press. CORPORATE OFFICERS. — S. M. Felton, Pres. ; H. E. R. Wood, Treas., Chicago, 111. ; Alex. Mil- lar, Sec., New York, N. Y. Office, 120 Broadway, New York, N. Y. THE C. & A. RR. Co. May 1, 1879. Leased in perpetuity, Nov. 1, 1879, to C. & A. RR. Co. ; rental, 35 p. c. of gross earn- ings, less assessments and taxes. If 35 p. c. is in excess of the amount required to pay interest on bonds, 6 p. c. on preferred stock, and 7 p. c. on common stock, after deducting taxes, etc., all excess must go to the C. & A. RR. Co. Capital stock ($100 shares) — common, 7 p. c., $271,800 ; preferred, 6 p. c., $1,750,000 ; funded debt (1st 7s of May 1, 1903), $3,000,000 — total, repre- senting cost of property, $5,021,800. The bonds are deposited with the U. S. Trust Co., as se- curity for an issue of a like amount of 6 p. c. bonds of the C. & A. RR. Co. of the same date. S. M. Felton, Pres. ; Charles H. Davis, Sec., Chi- 330 POOR'S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. cago, 111. ; R. D. Yoakum, Asst. Sec., St. Louis, Mo. Office, Carleton Bldg., St. Louis, Mo. Louisiana and Missouri River UK. — Louisiana to Cedar City, Mo., 100.99 miles. Chartered March 24, 1868 ; road opened Oct. 29, 1871. Leased in perpetuity, Aug. 1, 1870, at a rental of 35 p. c. of gross earnings after deduct- ing taxes and assessments. On Nov. 13, 1894, the lease was modified, whereby the lessee agreed to pay the coupons of the 1st and 2d mtge. bonds as they accrue, and the principal when due ; 7 p. c. dividends on the $329,000 guaranteed preferred stock, and to discharge the floating debt, no fur- ther amount to be paid for the future use of the property. Each shareholder of the L. & M. R. RR. Co. has a right to sell his stock to the lessee at $29.50 per share for preferred stock, and $10 per share for common. Common stock, $2,312,700 ; preferred stock, $1,- 010,000 ; preferred 7 p. c. stock, guaranteed by C. & A. RR. Co. (interest Feb. and Aug.), $329,000 — total, $3,651,700. All of the common and preferred stock is now held by the C. & A. RR. Co., except 313 shares of common and 167 shares of preferred. The bonded debt was retired at maturity. H. W. Phelps, Pres., St. Louis, Mo. ; H. E. R. Wood, Sec. & Treas., Chicago, 111. Office, Carle- ton Building, St. Louis, Mo. 113. Board of Directors, Chicago and Alton Ry. Co., elected Oct. 7, 1902. E. H. HABRIMAN, Chairman New York, N. Y. E. H. Harriman. .Arden, N. Y. John J. Mitchell. . . Chicago, 111. Norman B. Ream. C. H. Chappell... Chicago, 111. F. S. Winston S. M. Felton James B. Forgan. Chicago, 111. David R. Francis. St. Louis.Mo. Geo. J. Gould.. Lakewood, N. J. Mortimer L. Schiff New York, N. Y. | James Stillman New York, N. Y. S. M. FELTON, President Chicago, 111. Wm. D. Cornish, Vice-President New York, N. Y. Secretary — Alex. Millar New York, N. Y. Comptroller — Wm. Mahl Gen. Auditor — Erastus Young Omaha, Neb. Treasurer — F. V. S. Crosby New York, N. Y. Asst. Treas. — H. E. R. Wood Chicago, 111. Aud. & Asst. Sec. — Charles H. Davis. PRINCIPAL OFFICE AND ADDRESS 120 Broadway, New York, N. Y. CHICAGO AND NORTHWESTERN RAILWAY COMPANY. INDEX TO THIS STATEMENT — REFEEENCES TO NUMBERS OF SECTIONS. Bonds Held in Treasury 12 Bonds in Sinking Funds.-... 11 Bonds to be Refunded 13 Capital Stock 8 Contracts and Agreements. . . 4 Directors and Officers 17 Earnings, Expenses, etc 6 Lines Oper'd. May 31, 1902.. 3 Leased Lines, Statements of. 16 Mileage and Equip., 1896-1902. 14 Mileage Oper'd. May 31, 1902. 1 Operations, 1896-190C 14 Rolling Stock B Funded Debt, Details of 9 Gen. Bal. Sheet.May 31, 1902.. 7 Gen. Bal. Sheet, 1896-1902.... 14 Guaranties 10 History 2 Income Acct, May 31, 1902. . 6 Land Department 15 1. Mileage Operated, May 31, 1902. LINES OWNED: In Illinoia, Wisconsin, Michigan, Iowa, Minne- sota, South Dakota, North Dakota, and Nebraska (see Sec. la) 5,875.20 m. Deduct: California Jc., la., to Fremont, Neb., (leased to F. E. & M. V. RR. Co.) 31.77 m.— 5,843.43 miles. PBOPBIETARY LINE: Princeton and Western RR.: Junction to Necedah, Wis. 16.06 " LEASED LINE: St. Paul Eastern Grand Trunk Ry. (see statement in Sec. 16) 60.02 TRACKAGE RIGHTS : Peoria and Pekin Union Ry. : In Peoria, 111 2.02 " Total length of lines operated, May 31, 1902 5,921.53 miles. 2d track, 796.90 m.; sidings, 2,120.17 miles. (The mileage of sidings includes 39.93 m. of spur tracks on the Ashland Division that are leased to manufacturing companies, and 6.59 m. between California Junction and Fremont, leased to the F. E. & M. V. RR. Co.) Gauge, 4 ft. &l/2 in- Rail in main and 2d tracks (steel — owned, 6,490.77 m. ; proprietary, 16.06 m. ; leased, 60.79 m.— total, 6,567.62 miles), 72, 80, and 90 Ibs. 2. History. — Organized on June 6, 1859, to take title to the property of the Chicago, St. Paul and Fond du Lac RR. Co., which was sold under foreclosure on June 2, 1859. The railroad then extended from Chicago, 111., to Fond du Lac, Wis., a distance of 177 miles. The system has been enlarged from time to time through the acquisition of other railroads or through extensions built chiefly by proprietary companies, all of whose stocks and bonds^ were owned by the Chicago and Northwestern Ry. Co. In the MANUAL for 1885, on pages 656-658, is a detailed history of the system brought down to the year 1885, and in subsequent editions later developments are recorded. (See MANUAL for 1902, page 314.) Additional Mileage Constructed. — During the fiscal year ending May 31, 1902, the following new lines were completed and put in operation : Branch from Pelican to Cran- don, Wis., 17.84 miles, opened Oct. 5, 1901 ; Princeton and Northwestern Ry., from Prince- ton to Marshfield, Wis., 85.69 miles, opened throughout Dec. 2, 1901; Red Granite Branch POOR'S MANUAL — CHICAGO AND NORTHWESTERN RY. CO. 331 of Princeton and Northwestern Ry., 7.85 miles, opened Sept. 2, 1901; Nekoosa Branch of Princeton and Northwestern Ry., 6.88 miles, opened March 3, 1902; Peoria and North- western Ry., from Nelson to Peoria, 111., 82.98 miles, opened Jan. 19, 1902. Upon the completion of its line to Peoria the company became a tenant of the Peoria and Pekin Union Ry. Co., thereby securing the use, jointly with other railways, of the extensive terminal and other facilities of the Peoria and Pekin Union Ry. Co. in the city of Peoria, including the joint use of the Union Passenger Depot and of the tracks to the various important industries in that city. Acquisition of Sioux City and Pacific RR. — The Sioux City and Pacific RR. Co. was organized under the laws of the State of Iowa on Aug. 1, 18G4, and was one of the so-called "Pacific Railroads" which received aid from the United States Government, in United States subsidy bonds issued under the Acts of Congress of July 1, 1862, and July 2, 1864. On June 20, 1901, the Chicago and Northwestern Ry. Co. purchased of the United States all the claims, rights and demands of the latter against the Sioux City and Pacific RR. Co., the consideration being $1,872,000 in cash and the surrender of $250,- 841.24 which had been earned by the Sioux City and Pacific RR. Co. in transportation service for the United States, but which had been retained on account of the indebtedness of the company. On Aug. 1, 1901, the Sioux City and Pacific RR. Co. issued its 1st mort- gage 3J^ p. c. gold bonds, maturing on Aug. 1, 1936, to the aggregate amount of $4,000,000, the proceeds of which were used in settlement of its indebtedness as follows: On account of the retirement of its 1st mortgage bonds of 1898, $1,628,000; on account of settlement of United States Government claims, $1,872,000; for cost of constructing an extension from Sargents Bluff to Moville, la., 20 miles, including cost of equipment, $500,000 — total, $4,000,000. On Aug. 28, 1901, the Sioux City and Pacific RR. Co. sold and con- veyed its railroad property (including the extension to Moville) to the Chicago and North- western Ry. Co., the latter assuming the $4,000,000 1st mortgage bonds and making them a part of its bonded indebtedness. The lines from Sioux City, la., to Fremont, Neb., and branch from California Junction to Missouri Valley, la., were taken over for oper- ation by the Chicago and Northwestern Ry. Co. on Aug. 9, 1901, but on Sept. 1, 1901, the section from California Junction, la., to Fremont, Neb., 31.77 miles, was transferred by lease to the Fremont, Elkhorn and Missouri Valley RR. Co., that company also to have joint use of the line from California Junction to Missouri Valley, la. The newly- constructed branch of the Sioux City and Pacific RR., from Sargents Bluff to Moville, la., 20 miles, was opened for traffic on Nov. 25, 1901. Although the property of the Sioux City and Pacific RR. Co. has been purchased and its bonds assumed by the Chicago and Northwestern Ry. Co., there has been no merger of the two corporations. The Sioux City and Pacific RR. Co. still remains a distinct entity. Its preferred stock, of which $96,500 remains outstanding, and on which dividends at the rate of 7 p. c. per annum are paid, is included in the funded debt of the Chicago and Northwestern Ry. Co. (see Section 9). Minnesota Western Ry. — Under the charter of the Minnesota Western Ry. Co. the construction of a line from Evan to Marshall, Minn., 45.82 miles, was commenced in Aug., 1901. At the annual meeting of the Chicago and Northwestern Ry. Co., held June 5, 1902, the officers of the company were authorized to acquire title to the Minnesota Western Ry. by a proper and sufficient conveyance. The road was completed and opened for traffic on Aug. 13, 1902. The cost of it to May 31, 1902, $497,353.64, was deducted from the sur- plus net earnings for the fiscal year, being included in the item "Appropriated for Con- struction, etc.," in Section 6. Chicago, Iowa d Dakota Ry. — Late in 1901 the company purchased all the capital stock and all the bonds of the Chicago, Iowa and Dakota Ry. Co., taking possession of the property on Jan. 1, 1902. There has been no merger of the corporations, and the results from the operation of the Chicago, Iowa and Dakota Ry. are not included in this state- ment, although the road is operated by the Chicago and Northwestern Ry. Co. (see separate statement in Section 16). (Continued on page 332. ) 332 POOR'S MANtJAL OB* BAILROADS CENTRAL NORTHERN 3. Lines of Road — Statement showing by operating divisions the lines of railroad operated by the Chicago and Northwestern Ry. Co. on May 31, 1902 1 WISCONSIN DIVISION (324.55 miles) : Miles. Chicago to Fond du Lac Jc. (via Milw.) 147.63 Kenosba to Rockford 72.10 Chicago to Janesville 91.93 Mayfair to Central Street (Evanston).. 7.69 North 40th Avenue, Chicago, to Mayfair. 5.20 NORTHERN WISCONSIN DIVISION (332.72 miles) : Janesville to Green Bay 150.27 Appleton Extension (to Water Power). 3.63 Sheboygan to Marshfleld 164.09 Red Granite Junction to Red Granite 7.85 Nekoosa Junction to Nekoosa 6.88 GALENA DIVISION (490.76 miles) : Chicago to East Bank Mississippi River, opposite Clinton 137.00 Chicago to Freeport 121.00 Elgin to Williams Bay 51.04 St. Charles to Aurora 11.80 Cortland to Sycamore 4.64 Belvidere to Spring Valley 75.78 Chicago So. Branch Track, June, to Riv. 4.50 Nelson to Peoria (Including 2.02 miles of Trackage) 85.00 IOWA DIVISION (560.73 miles) : East Bank of Mississippi River to Mis- souri River, opposite Omaha 354.00 Clinton to Quarry, beyond Anamosa 73.57 Stanwood to Tipton 8.50 Des Moines to June, with Northern Iowa Division 57.34 Carroll to Harlan 41.11 Junction near Manning to Audubon 17.00 Cedar Rapids Cut-Off 5.96 Boone to Coal Banks 3.25 IOWA AND MINNESOTA DIVISION (326.75 miles) : Belle Plaine to Muchakinock 64.00 Belle Plaine to Sanborn 241.20 Starke to end of track beyond Buxton. . . 21.55 NORTHERN IOWA DIVISION (357.17 miles) : Tama to Elmore 164.56 Eagle Grove to Iowa State Line near Hawarden 145.20 Jewell Jc. to junc. with Des Moines Line 1.75 Burt to Fox Lake 45.66 Sioux CITT DIVISION (416.15 miles) : Jewell Junction to On aw a 141.53 Maple River Junction to Carnarvon 13.00 Wall Lake to Sargents Bluff 99.87 Wall Lake to Denison 24.80 Boyer to Mondamin 61.30 Missouri Valley to Sioux City 75.65 MADISON DIVISION (509.27 miles) : Belvidere to Winona 227.00 Evansville to Janesville 15.68 Afton to Janesville 6.10 Medary to La Crosse 3.96 Trempealeau to Galesville 6.71 Necedah Junction to Necedah 16.06 Miles. Milwaukee to Montfort 140.88 Galena to Woodman 76.84 Ipswich to Platteville 4.00 Lancaster Junction to Lancaster 12.04 ASHLAND DIVISION (836.58 miles) : Lake Shore Junction to Ashland (via Watersmeet) 386.13 Monico Junction to Hurley 88.11 Two Rivers Junction to Two Rivers 6.35 Hortonville to Oshkosh 23.10 Eland Junction to Marshfleld 63.87 North of Antigo to East Bryant Switch.. 7.27 Pratt Junction to Harrison 17.85 Parrish Junction to Parrish 4.54 Pelican to Crandon 17.84 Watersmeet to Choate 22.82 Interior Junction to Interior 1.61 Craigsmere to Robbins 3.47 Hurley to end of Track 12.97 Potato River Junction to end of Track.. 2.60 Extension through Section 34 1.34 Branches and Extensions to Iron Mines 34.22 Spurs to Industrial Establishments 21.44 North. Jc. to end of track beyond Laona 61.03 Clintonville to Oconto (leased) 56.00 Spurs to Indus. Establishm'ts (leased).. 4.02 PENINSULA DIVISION (464.44 miles) : Green Bay to Republic 202.64 Clowry to Michigamme 10.44 Wabik to Champion 1.23 Powers to Watersmeet 104.33 Stager to Amasa 24.10 Narenta to Metropolitan 34.86 Branches and Extensions to Iron Mines. 86.84 MINNESOTA AND DAKOTA DIVISION (1,302.41 miles) Winona to Pierre 486.01 Plainview Junction to Plainview 15.01 Chatfield Junction to Chatfleld 11.46 Rochester to Zumbrota 24.48 Mankato Jc. to New Ulm( via Mankato).. 29.33 Sleepy Eye to Redwood Falls 24.40 Evan to Marshall 45.82 Sanborn to Vesta 26.40 Tracy to Gettysburg 238.73 Tyler to Astoria 32.20 Sioux Valley Junction to Watertown 43.83 James Valley Junction to Oakes 131.95 Doland to Groton 38.84 Iroquois to Hawarden 125.49 Centerville to Yankton 28.46 Total length of lines 5,953.30 California June., la., to Fremont, Neb. (leased to and operated exclusively by F. E. & M. V. RR. Co.) 31.77 Total operated May 31, 1902 5,921.63 Average operated during the year 6,759.61 De Pue, Ladd & Eastern RR. — The De Pue, Ladd and Eastern RR., extending from Seatonville to Ladd, 111., a distance of 3.5 miles, was purchased by the Chicago and North- western Ry. Co. on July 1, 1902, and was taken over for operation on Oct. 16, 1902. It had been previously operated by the Chicago, Burlington and Quincy Ry. Co., as a switch to the coal mines of the Chicago, Wilmington and Vermilion Coal Co. at Seatonville, III. (see MANUAL for 1902, page 420). Track Elevation in Chicago. — In compliance with the provisions of an ordinance passed by the Common Council of the city of Chicago on Jan. 13, 1902, the company has under- taken the elevation of its two main tracks on the Mayfair Cut-off between Chicago and Milwaukee avenues, a distance of 4.5 miles. These tracks are to be elevated to a height varying from 11.1 feet to 13.9 feet, and the work involves the construction of fifteen sub- ways, which will result in the elimination of a like number of grade crossings. Milwaukee Connection. — Under an agreement with the Chicago, Milwaukee & St. POOR S MANUAL CHICAGO ANT) NORTHWESTERN RY. CO. 333 Paul Ry. Co. a joint track has been constructed from this company's new terminal yard near Laytoh Park (a suburb of the city of Milwaukee), located on the Madison Division, to a connection with the La Crosse Division of the Chicago, Milwaukee & St. Paul Ry. This track is 1.74 miles in length and affords convenient access to industries located in the Menominee Valley west of the city of Milwaukee. Interests in Other Railroads. — The Chicago and Northwestern Ry. Co. owns the entire capital stock of the Fremont, Elkhorn and Missouri Valley RR. Co. and a majority of the capital stock of the Chicago, St. Paul, Minneapolis and Omaha Ry. Co. At a special meeting of the stockholders and voting bondholders of the Chicago and Northwestern Ry. Co., held Feb. 10, 1903, it was voted to purchase the property and franchises of the Fre- mont, Elkhorn and Missouri Valley RR. Co. This has been done, and the Fremont, Elk- horn and Missouri Valley RR. is now operated as the Nebraska and Wyoming Division of the Chicago and Northwestern Ry. 4. Contracts and Agreements. — The company has contracts and agreements with other railroad companies, as follows : With the Chicago, Burlington and Quincy, securing to that company the joint use of the bridge over the Mississippi River at Clinton, la., at an annual rental of $20,000 ; with the company just named and the Chicago, Rock Island and Pacific, giving them Joint use with this company of certain sidings in Council Bluffs, la. ; with the Chicago, St. Paul, Minneapolis and Omaha, providing for joint running arrangements between Chicago and St. Paul, and division of earnings upon a pro rata per mile ; with the Wisconsin, Minnesota and Pacific, granting that com- pany the joint use of certain tracks and buildings in Zumbrota, Minn. ; and with the Union Pacific RR. Co., the Southern Pacific Co., the Oregon Short Line RR. Co., and the Oregon RR. & Nav. Co.. providing for the establishment of a through route between Chicago and the Pacific Coast. 5. Rolling Stock, May 31, 1902. — Locomotives, 1,070. Revenue cars — 1st class passenger, 508; 2d class, 39; parlor, 28; dining, 12; chair, 33; buffet and cafe, 12; combi- nation, 124; baggage and express, 171; mail, 48; milk, 47; freight (box, 23,299; gondola, 6,494; flat, 4,153; stock, 3,385; refrigerator, 895; iron ore, 4,351), 42,577— total, 43,599. Also 940 service cars. 6. General Income Account, year ending May 31, 1902. Expenses — Maint. of Way and Struc.. $6,098,35882 Maintenance of Equip 4,774,30642 Conducting Transportation. 16,856,865 19 General Expenses 866,870 90 Earnings —Passenger $10,886,139 15 Freight 33,436,89172 Mail and Express 1,849,75914 Miscellaneous 471,331 48 Total ( $8,098.49 per mile) $46,644,121 49 Net Earnings (38.69 p. c.) $18,047,72016 Income from Investments 577,08000 C., St. P., M. & O. Dividends: Preferred Stock (7 p. c.) 376,60000 Common Stock (5 p. c.) 466,00000 Total, Net Income $19,467,40016 Total ($4,964.99 per mile) $28,596,40133 Taxes $1,353,111 31 Revenue Tax Stamp 56,13013 Interest on Bonds and Gen. Interest. 7,257,833 52 Appropriated for Construction, etc. . . 4,697,055 04 Sinking Funds 225,50000 Dividends on Preferred Stock ( 8 p.c. ) 1,791,600 00 Dividends on Common Stock (7 p.c.). 2,737,86800 Total Payments $18,119,098 00 Surplus, $1,348,302.16; surplus forward, $8,028,965.72— total, $9,377,267.88. Interest on bonds includes interest amounting to $9,195.44, paid in advance of maturity on bonds taken up and funded into 3i/j p. c. gen. mtge. gold bonds of 1987. 7. General Balance Sheet, May 31, 1902 (5,891.26 miles). Cost of Property $193,377,15880 F. L. & T. Co., Trustee. .$6,656,564 54 Cen. Trust Co., Trustee. . 362,160 00 Union Trust Co., Trustee..3,161,000 00—10,179.724 54 F., E. & M. V. RR., Bonds in Trust. . 13,235,000 00 Cost of F., E. & M. V. RR. Stock.... 1,981,50000 Cost of Securities and Advances Ac- count Sundry Companies 1,001,72685 Stock of C., St. P., M. & O. Ry. Co... 10,000,00000 C. & N. W. Stock in Hands of Treas. 2,337,522 61 C. & N. W. Bonds on Hand 4,838,00000 Materials and Supplies on Hand.... 2,330,22620 Sundry Current Accounts 2,663,467 59 Bills Receivable 207,70105 Cash 4,847,59892 Total Assets $246,999,62656 Common Stock and Scrip (see Sec. 8) Preferred Stock and Scrip (see Sec. 8) Funded Debt Outstanding (see Sec. 9) Sundry Bonds in Sink. Fds. (Sec. 11) Bonds on Hand Owned by Co. (Sec.12) Bonds on Hand to be Ref'd.(Sec. 13) Sinking Fd. Payments and Accretions Supplies, Materials and May Accts.. . Current Pay Rolls, Payable in June. Due to Other Companies Unpresented Coupons and Old Div. Bond Interest, Due June 1, 1902 Accruing Bond Interest, Unmatured. Dividends Payable July 1, 1902 2,180,358 60 Balance of Income Accounts : Railroad $9,377,267 88 Consol. Coal Co., Dr... 286,69962 Land Department 1,329,14918—10,419,71744 $41,448,365 97 22,398,954 5"? 145,606,000 00 4,141,500 00 4,706,000 00 132,000 00 10,179,724 54 1,696,003 63 1,851,742 18 272,064 31 146,220 77 584,325 00 1.236,649 66 Total Liabilities $246,999,626 66 334 POOR'S MANUAL OP RAILROADS CENTRAL NORTHERN GROUP. 8. Capital Stock — Of the capital stock as per general balance sheet, $2,333,688.05 of com- mon stock and scrip, and $3,834.56 of preferred stock and scrip, are owned by the company, leaving outstanding $39,114,677.92 of common stock and scrip, and $22,395,120 of preferred stock and scrip. Preferred stock is first entitled to dividend up to 7 p. c. ; common stock then to same rate ; preferred then to additional dividend up to 3 p. c. (in all 10 p. c.) ; common stock then entitled to additional dividend up to same rate ; both share alike in any further dividends. A statement show- ing the amount of capital stock at the close of each fiscal year from 1862 to 1897, and the rates of dividends paid thereon, is in the MANUAL for 1898, page 373. By resolution adopted Feb. 10, 1903, the authorized capital stock has been increased to $100,- 000,000. Common stock to the amount of $9,226,110 has been issued and sold to the stockholders of the company, increasing the amount of that class of stock outstanding to $48,340,787.92 as of March 15, 1903. 9. Funded Debt OutMtandlng. — The funded debt outstanding on May 31, 1902 — total, $145,606,000, as per general balance sheet — consisted of the several issues of bonds listed in the following statement. Additional particulars respecting any issue will be found in the paragraph relating thereto appended to the statement ; and the details of funded debt outstanding on or about Aug. 1, 1903, will be found in the Ready Reference Bond List — see General Index : General Mortgage and Underlying Bonds (total, 1129,372,500) : C. & N.W.Ry.Gen.Gld. 3Js of Nov. 1, 1987 . $12,486,000 C.&N.W.Ry.Gen.Con.Gld.7s of Dec. 1,1902 7,316,000 Mil. & Mad. Ry. 1st 6s of Sept. 1, 1905. . . . 1,600,000 Chi. & Tomah RR. 1st 6s of Nov. 1, 1905.. 1,528,000 Ch.,Mil.&N.W. Ry. Const.6s of Nov.l, 1905 601,000 Menominee Riv. RR. 1st 7s of July 1, 1906 400,000 Menom. Riv. RR.Ext.lst7s of July 1, 1906 160,000 Des M. & Minn. RR. 1st 7s of Feb. 1, 1907. 600,000 M.L.S.&W. Ry.Conv.Deb.5s of Feb.l, 1907. 436,000 Dk.C.Ry.lst(W.&St.P.Cn.)6s of Sep.1,1907 1,007,000 W.&St.P.RR.2d(nowlst) 7s of Nov.1,1907 1,592,000 Dak.C.Ry.(S.E.Div.)lst6s of Nov. 1, 1907. 2,000,000 Roch. & No. Minn.Ry.lst 7s of Sep.l, 1908. 200,000 Plain view RR. 1st 7s of Sept. 1, 1908.... 100,000 Minn. Valley Ry. 1st 7s of Oct. 1, 1908. . . 150,000 O.( C. F. & St. P.Ry. 1st 5s of Mar. 1, 1909. 1,600,000 C. R. & Mo. Riv. RR. 1st 7s of June 1, 1909 769,000 C.&N.W.Ry. 25-yr. Deb. 5s of Nov. 1, 1909 »5,369,000 No. 111. Ry. 1st 5s of March 1, 1910 1,500,000 Mad. Ext. Sk. Fd. 7s of April 1, 1911.... 2,977,500 M. L. S. & W. Ry. Inco. 6s of May 1,1911 500,000 Menom. Ext. 1st Sk.Fd. 7s of June 1, 1911 2,546,500 C.&N.W.Ry.Con. Sk. Fd. 7s of Feb. 1. 1915 12,832,000 C.R.&Mo.Rv.RR.3dDv. 1st 7s ofMay 1.1916 2,332,000 W.&St.P.RR.Ex.W.Dv.lst7s of Dec.1,1916 $4,038,500 N. W. Union Ry. 1st 7s of June 1, 1917. . 3,365,000 C.&N.W.Ry.30-yr.Deb.5s of April 15,1921 9,8]9,000 M.L.S.&W.Ry.Cons. 1st 6s of May 1, 1921. 5,000,000 M.L.S.&W.MarshEx. 1st 5s of Oct. 1, 1922. 400,000 M.L.S.&W.lst(Mich.Div.)6sof July 1,1924 1,281,000 M.L.S.&W.lst(Ash.Div.)6s of Mar.l, 1925. 1,000,000 C. & N. W. Ry. Ext. 4s of Aug. 15, 1926 . . tl7,489,000 M.L.S.&W.Ex.&Imp.Sk.Fd.5sof Feb.l, 1929 4,148,000 C. & N. W. Ry. Sink. Fd. 6s of Oct. 1, 1929. 5,809,000 C. & N. W. Ry. Sink. Fd. 5s of Oct. 1, 1929. 6,921,000 C.&N.W.Ry.Sk.Fd. Deb. 5s of May 1, 1933 $9,800,000 First Mtge. Bonds on new lines, issued and assumed subsequent to General Gold Mortgage of 1897 (to- tal, $15,933,500) : Boyer Valley Ry. 1st 3} of Dec. 1, 1923. . . 1,440,000 Minn. & Iowa Ry. 1st 3Js of June 1, 1924. . 1,904,000 Princeton & N.W.Ry.lst 3Js of Jan.l, 1926. 1,940,000 Peoria & N. W. Ry. 1st 3Js of Mar. 1, 1926. 2,125,000 Minn.A So.Dak. Ry. 1st 3is of Jan.l, 1935. 628,000 lowa.Minn.&N.W.Ry. 1st 3Js of Jan.l, 1935. 3,900,000 S. C. & P. RR. 1st 3is of Aug. 1, 1936.... 4,000.000 S. C. & P. RR. Pref. Stock Mtge 96,500 •$1,966,500 of these bonds were issued for the purchase of Fremont, Elkhorn and Missouri Valley RR. Co. stock. t$13,235,000 of these bonds were issued for the construction of the Fremont, Elkhorn and Missouri Valley RR., and the interest on them is paid by the F., E. & M. V. RR. Co. JThese bonds were issued for the purchase of Chicago, St. Paul, Minneapolis and Omaha Ry. Co. stock. These several issues, amounting to $25,001,500, deducted from the total amount outstanding ($145,606,000), leaves $120,604,500 (or $20,471.77 per mile) as the net amount issued to cover th» 6,891.26 miles of the Chicago and Northwestern Ry. General Mortgage Gold Bonds of 1987. — Secured by mortgage or deed of trust on 5,078.44 miles of the 5,875.20 miles of railroad owned by the Chicago and Northwestern Ry. Co. on May 31, 1902. including franchises, equipment, appurtenances, etc., but not including land grants. The following are the lines not covered by the mortgage : Boyer Valley Ry., from Wall Lake to Denison, la., 24.8 miles, and from Boyer to Mondamin, la., 61.3 miles ; Minnesota and Iowa Ry., from Burt, la., to Vesta, Minn., 119.1 miles ; Boone County Ry., from Boone to Ogden, la., 7.25 miles ; Mankato and New Ulm Ry., from Mankato to New Ulm, Minn., 25.58 miles ; Minnesota and South Dakota Ry., from Tyler, Minn., to Astoria, S. D., 32.20 miles ; Iowa, Minnesota and Northwestern Ry., from Belle Plaine, la., to Fox Lake, Minn., 194.16 miles ; Southern Iowa Ry.. from Stark to Buxton, la., 21.55 miles ; Peoria and Northwestern Ry., from Nelson to Peoria, 111., 82.98 miles ; Princeton and Northwestern Ry., from Princeton to Marshfield, Wis., 85.69 miles ; from Red Granite Junction to Red Granite, Wis., 7.85 miles, and from Nekoosa Junction to Nekoosa, Wis., 6.88 miles ; and Sioux City and Pacific RR., from Sioux City, la., to Missouri Valley, la., 75.65 miles ; from Sargents Bluff to Moville, la., 20 miles, and from California Junction, la., to Fremont, Neb., 31.77 miles. The amount of bonds authorized under the mortgage is $165,000,000, of which the company reserved $131,645,000 for the retirement of underlying bonds and funded obligations, and $33,355,000 to pro- vide for the betterment or increase of the company's property, $4,000,000 of these to be issued in such amounts and at such times as called for by the board of directors or by the executive committee, and the balance ($29,355,000) from time to time in such amounts, not exceeding $1,000,000 in any one year, as may be required to meet the cost of permanent improvements and additions, including equipment, which shall have been actually made. In addition to the $117,186,500 of underlying bonds detailed in the statement of funded debt, the following bonds, held in the company's sinking fund, or deposited as collateral for other issues of the company's bonds, are prior in lien to the gen. mtge. gold bonds, and are to be retired by issue thereof : $440,000 1st mtge. 4s of the Wisconsin Northern Ry. Co., $785,000 1st mtge. 6s of the Winona and St. Peter RR. Co. and $7,230,000 1st mtge. 6s of the Dakota Central Ry. Co. On May 31, 1902, there had been issued $11,124,000 of the bonds reserved for the retirement of underlying bonds, besides $2,000,000 out of the $4,000,000 pro- vided for the use of the company, and $4,000,000 out of the $29.355,000 lot to be issued at not ex- ceeding the rate of $1,000,000 a year for additions and betterments ; a total of $17,124,000 issued. Of this amount the sinking fund held $573,000, and there were $4,065,000 of the bonds in the treasury, leaving $12,486,000 outstanding. Between May 31, 1902, and Jan. 1, 1903, the amount outstanding was increased to $20,538,000, the additional bonds being used mostly for the retirement of the gen. consol. mtge. bonds. The mortgage provides that the prior lien bonds shall be paid, retired or refunded at or before maturity, and in no event be extended, so that thereafter this mort- POOR'S MANUAL CHICAGO AND NORTHWESTERN RY. CO. 335 gage shall be a first lien upon the entire property and assets of the company. All prior lien bonds acquired in exchange for gen. mtge. gold bonds of 1987 are to be deposited with the trustees of the latter as additional security therefor. The bonds will bear interest at such rate not exceeding 5 p. c. per annum as from time to time the board of directors may determine and as shall be designated in the bonds when issued. C. & N. W. Ry. General Consolidated Gold Bonds. — Secured by mortgage lien on 1,699.92 miles of railroad (Chicago, III., to Ishpeming, Mich., including branches to mines; Chicago, 111., to the Missouri River opposite Omaha, Neb. ; Chicago to Freeport, 111. ; Chicago, 111., to Fond du Lac, Wis. ; Belvidere, 111., to Winona, Minn. ; Elgin, 111., to Lake Geneva, Wis. ; Kenosha, Wis., to Rock- ford, 111. ; Clinton to Anamosa, la. : Stanwood to Tipton, la. ; Geneva to Batavia, 111. ; Geneva to St. Charles, 111. ; also the South Chicago Branch track and the Montrose Cut-off track), together with all the equipment, depot grounds, shops, machinery, leaseholds and proceeds of land grant ap- pertaining to that mileage, but subject to the liens of prior mortgages. These bonds matured on Dec. 31, 1902, and were retired. Milwaukee and Madison Ry. First Mortgage Bonds. — Secured on 82 miles of railroad, from Mil- waukee to Madison, Wis. ; also by guaranty of the Chicago and Northwestern Ry. Co., which guar- anty is executed under seal upon each bond. Chicago and Tomah RR. First Mortgage Bonds. — Secured on the lines from Galena, 111., to Woodman, Wis. ; Montfort to Madison, Wis. ; Ipswich to Platville, Wis., and Lancaster Junction, Wis., in all 153.72 miles, together with depots, grounds, and all other property appertaining to those lines. The bonds are unconditionally guaranteed, both as to principal and interest, by tbe Chicago and Northwestern Ry. Co. Chicago, Milwaukee and Northwestern Ry. Construction Bonds. — Issued for the purpose of widening to the standard 92 miles of narrow gauge line of the Chicago and Tomah Division, and con- stitute an additional mortgage on the widened line, besides being a second mortgage on the remaining 61 miles of the Chicago and Tomah Division. The total-issue is $750,000, but $149,000 of the bonds are in the sinking fund. Menominee River RR. First Mortgage Bonds. — Secured on the line from junction 22 miles west of Escanaba to Quinnesec, Mich., 25 miles. Menominee River RR. Extension First Mortgage Bonds. — Secured on the line from Quinnesec, Mich., to the Wisconsin State Line, 7.30 miles, and branches, 2.70 miles — total, 10 miles. Des Moines and Minneapolis RR. First Mortgage Bonds.— Secured on line from Des Moines to Jewel Junction, la., 58 miles. M., L. 8. & TV. Ry. 20-yr. Gold Convertible Debenture Bonds. — Secured by the extension and im- provement sinking fund mortgage of Feb. 1, 1889, described in a subsequent paragraph. Dakota Central Ry. (W. & St. P. RR. Connection) First Mortgage Bonds. — Secured on the line from Watertown to Redfield, S. D., 71 miles. The total amount of bonds is $1,065,000, of which $58,009 are held alive in tne sinking fund. Winona and St. Peter RR. Second (now First) Mortgage Bonds. — Secured by mortgage on the line from Winona to St. Peter, Minn., 139 miles, besides having the guaranty of the Chicago and Northwestern Ry. Co. endorsed on them. Dakota Central Ry. (Southeastern Division) First Mortgage Bonds. — Secured on the line from Iroquois, S. D., to Hawarden, la., 125.49 miles. Rochester and Northern Minnesota RR. First Mortgage Bonds. — Secured on the line from Rochester to Zumbrota, Minn., 24.48 miles. These bonds were assumed by the Winona and St. Peter RR. Co. Plainview RR. First Mortgage Bonds. — Secured on the line from Eyota to Plainview, Minn., 15.01 miles. Minnesota Valley Ry. First Mortgage Bonds. — Secured on the line from Sleepy Eye to Redwood Falls, Minn., 24.40 miles. Ottumwa, Cedar Falls and St. Paul Ry. First Mortgage Bonds. — Secured on 64 miles of road, from Belle Plaine to Muchakinock, la., and also by guaranty of the C. & N. W. Ry. Co. Cedar Rapids and Missouri River RR., 3d Division, First Mortgage Bonds. — Secured on the line from Des Moines River, la., to the Missouri River opposite Omaha, Neb., 149.60 miles. C. & N. W. Ry. Twenty-five-Year Debentures of 1909. — The total amount of these bonds is $5,900,000, of which $521,000 are held alive in the sinking fund and $10,000 are in the treasury of the company. The C. & N. W. Ry. Co. guarantees that no increased mortgage debt, except for im- provements, extensions, etc., shall be issued upon the same property without providing equal security for these bonds. It is provided that in case of default for six months the trustee shall declare the bonds to be due and payable. Northern Illinois Ry. First Mortgage Bonds. — Secured on the line from Belvidere to Spring Valley, 111., 76 miles. Madison Extension Gold Bonds. — Secured by mortgage on the line from Madison to Winona Junction, Wis., 129.10 miles. A sinking fund of $23,000 per annum is provided for the retirement of these bonds. The total amount of bonds is $3,150,000, of which $172,500 are held alive in the sinking fund. M., L. S. & W. Ry. Income Bonds. — Secured by pledge of earnings of the M., L. S. & W. Ry., under agreement dated May 2, 1881. Menominee Extension Gold Bonds. — Secured by mortgage on the line from Fort Howard. Wis., to Escanaba, Mich., 114.10 miles. A sinking fund of $20,000 per annum is provided for the retire- ment of these bonds. The total amount of bonds is $2,697,000, of which $150,500 are held alive in the sinking fund. C. & N. W. Ry. Consolidated Sinking Fund Currency Bonds. — Secured by first mortgage on road and equipment as follows : Chicago to Clinton, 137 m. ; Chicago to Freeport, 121 m. ; Elgin to Richmond, 34.54 m. ; Belvidere to Madison, 68.90 m. ; Chicago to Fort Howard, 245.83 m. ; Escanaba to Negaunee, Mich., and Iron Mines, 108.85 m. ; Rockford to Kenosha, 72.10 m. — total, 788.22 miles. These bonds carry voting power. Cedar Rapids and Missouri River RR. Mortgage Bonds of 1884. — Secured on the line from Cedar Rapids, la., to the Des Moines River, 122 miles. Winona and St. Peter RR. (Extension Western Division) First Mortgage Bonds. — Secured on the line from St. Peter, Minn., to Watertown, S. D., 183.98 miles. The total amount is $4,241,000, of which $202,500 of bonds are held alive in the sinking fund. Northwestern Union Ry. First Mortgage Bonds. — Secured on the line from Milwaukee to Fond du Lac, Wis., 62.63 miles; also on valuable terminal property in Milwaukee, Wis. The total issue is $3.500,000, but $135,000 of the bonds are in the sinking fund. 336 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. C. & N. W. Ry. Thirty-Year Debentures. — Authorized to the amount of $10,000,000, of which $181,000 are held alive In the sinking fund. It Is stipulated in the trust agreement that no in- creased mortgage debt, except for improvements, extension, or the like, shall be created without pro- viding for these bonds equal security with any additional bonds secured on the same property. It Is provided that in case of default for six months the trustee shall declare the bonds to be due and payable. M., L. 8. & W. Ry. Consolidated First Mortgage Gold Bonds. — Secured by first mortgage on the following lines of railroad, whose combined length Is 412.86 miles: Lake Shore Junction, Wis., to Michigan State Line ; Monico Junction, Wis., toward Hurley ; Hortonville to Oshkosh, Wis. ; Eland Junction to Wausau, Wis. ; Two Rivers June, to Two Rivers, Wis., and Antigo to Malcolm, Wis. M., L. 8. & W. Ry. Marshfield Extension First Mortgage Bonds. — Secured by first mortgage on the line from Wausau to Marshfleld, Wis., 40 miles. M., L. 8. & W. Ry. Michigan Division First Mortgage Gold Bonds. — Secured by first mortgage on the line from Wisconsin State Line to the Montreal River, and oa the Watersmeet Branch and branches to mines, in all 81.89 miles. M., L. 8. & W. Ry. Ashland Division First Mortgage Gold Bonds. — Secured by first mortgage on the line from Montreal River to Ashland, 39.62 miles, including dock, etc. C. . "BANKNOTE NEWYORK"] BUSINESS FOUNDED 1793 AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- j tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE Poor's Manual— Railroad Map of the United States, 1903. OHIO. Railroad Map of Ohio. RESUMPTION AND THE SILVER QUESTION; _A. IE3Iaa=LcL~t>ooIls: ±o:r? "tire T±-m es. EMBRACING A SKETCH OF THE COINAGE AND OF THE LEGAL-TENDER CURRENCIES OF THE UNITED STATES AND OTHER NATIONS. By HENRY V. POOR. (1878.) Summary of the Contents. PART I. — The distinction between the money of Banks and of Government. PART II. — An examination of the Report of the late Conference between Mr. Secretary Sherman and the Committee on Finance of the Senate, and the Committee on Banking and Currency of the House of Representatives, of the United States. PART in. — A History of the Coinage of the United States; of the Act of 1873, de- monetizing silver; and a sketch of the monetary systems of the great commercial Nations, Great Britain, France, and Germany. PART IV. — A History of Legal-Tender Currencies, embracing a History of the Legal- Tender Currencies of the Mongols ; of the Continental Currency of the United States ; of the Assignats of France, and of the present Legal-Tender Currency of the United States. PART V. — The Greenback Party. PART VI. — How Resumption is to be Effected. PRE8S NOTICES. JITetf York Evening Post. We commend Mr. Poor's book, as it deserves, as a most convenient reference handbook concerning the history of silver money in the United States, the monetary history of other countries, and other matters of a similar nature, all of which are presented in compact and convenient shape, and fitted to the hand by an elaborate analytical index. Philadelphia Ledger. A timely and valuable book, which cannot be too carefully studied, and every line of which is full of warning and instruction. Sew Forfc Journal of Commerce. A timely and valuable contribution to a subject now demanding the earnest attention of every thoughtf nl citizen. It will help toclear away much of the fogin which the whole question of the currency is now enveloped. It is in no sense partisan, and is addressed wholly to the reason and intelligence of the reader. It is indeed, as It Is called, "A Handbook for the Times." Boston. Journal. This volume is pungent and fall of information. It is very fresh and suggestive, and contains a large amount of information which gives it value, and makes it stimulating and helpful in extending and directing financial discussion. 1 Volume, 12mo, Cloth, pp. 230. Prioe, $1.00. Sent free of postage, on receipt of price, by the publishers, and for sale by all boofaellert. Poor's ttliiHf manual Co., 68 William St., Hew Yorl POOR S MANUAL CHICAGO, BURLINGTON AND QUINCY RR. CO. 353 from Alliance, Neb., to Billings, Mont., from Edgemont to Deadwood, S. D., and from Toluca, Moot., to Cody, Wyo., in all 751 miles, besides sundry short branches. 12. Sinking Funds. — The total payments to and accretions of sinking funds amounted to $20,352,290.13 on June 30, 1902, as follows: C., B. & Q. Iowa Division 4s and 5s of 1919, $4,415,- 734.45 ; C., B. & Q. sinking fund 4s of 1921, $1,393,673.48 ; C., B. & Q. Denver Extension 4s of 1922, $2,541,976.10; C., B. & Q. Nebraska Extension 4s of 1927, $3,264,344.55; B & M RR In Neb. consol. 6s of 1918, $5,621,848.73 ; B. & M. RR. in Neb. sinking fund 4s of 1910, $2,457,440.06 • Republican Valley RR. sinking fund 6s of 1919, $409,323.85 ; and Lincoln and Northwestern RR 7s of 1910, $247,948.91. The total amount at the credit of sinking funds on June 30, 1901, was $21,599,245.25. The sinking fund 5 p. c. bonds of the company maturing Oct. 1, 1901, having been paid and cancelled and the securities held in that fund, amounting to $2,436,097.08 covered into the company's treas- ury, $19,163,148.17 remained at the credit of the other sinking funds of the company, as of June 30 1901. This amount was increased during the year by the sum of $1,189,141.96, of which $623,131 was paid directly from the earnings of the year, and the remainder, $566,010.96, was the accumula- tion of interest on bonds held in the funds. This increase was used in purchasing $1,203 600 bonds of which $405,000 were cancelled, and $798,600 remain uncancelled in the sinking fund Investments! 13. Statement of property, operations, income and general balances for seven fiscal periods : 1896 1897 June 30. 1898 1899 1900 1901 1902 Dec. 31. 6 months. June 30. June 30. June 30. June 30. June 30. Total Miles of Road.. 7,180.12 7,180.12 7,179.97 7,418.84 7,661.30 7,911.63 8,123.82 Aver. Miles Oper — 7,180.12 7,180.12 7,179.97 7,249.07 7,545.78 7,753.13 8,109.08 Locomotives 1,137 1,137 1,123 1,148 1 150 1 173 1 237 Passenger Cars 681 681 687 702 710 744 '776 Baggage, etc., Cars . 236 236 242 248 248 261 279 Freight Cars 39,553 39,553 39,562 41,899 42,905 43,903 45,868 Other Cars 561 561 565 588 512 650 691 Passengers 1 Mile. .. 324,553,945 143.251,123 362,302,510 448,456,418 469,256,338 533,186,204 600,136,909 Tons Freight 1 Mile. 2,577,655,320 1,342,913,449 3,295,586,072 3,373.480,389 3 793 008 334 3 870 529 358 4,613,072 546 Earn. p.Pass. p.Mile. 2.30 c. 2.27 c. 2.23 c. 2.10 c. 2.20 c. 2.16 c. 2.12c.' Earn. p. Ton p.Mile. 0.87 c. 0.87 c. 0.92 c. 0.86 c. 0.85 c. 0.86 c. 0.77 c. $ $ 1 S $ $ I Passenger Earnings.. 7.452,301 3,282,281 8,153,042 9,469.018 10,384,408 11,624,746 12,857,267 Freight Earnings. . . 22,423,211 11,555,700 30,543,640 29.270,942 32,557,999 33,662,221 36.072,080 Other Earnings 4,300,944 2,103,867 4,103,480 4,649,465 4,593,013 4,765,022 4,865.899 Gross Traffic Earn. . 34,176,456 16,941,848 42,800.162 43.389.4Z5 47,535,420 50,051,989 53,795,246 Operating Expenses 21,135,801 10,663,154 26,272,218 26,545,631 29,816,838 32,441,891 34,009839 Net Traffic Earnings 13,040,655 6,278,694 16,527,944 16,843,794 17,718,582 17,610.098 19,785,407 Other Income 390,323 175.908 534,161 487,822 382,195 380,798 340,805 Net Income 13,430,978 6,454,602 17,062,105 17,331,616 18,100,777 17,990,896 20,126,212 Payments — Taxes.. . 1,524,670 1,116,270 1,538,668 1,589,835 1,605,503 1.627,017 1.673.037 Interest on Bonds. 8,252,778 4,128,872 8,251,466 8,102,902 7,744,545 7,421,979 7,253,106 RentofTrks,etc.. 409,275 213,147 410,566 386,825 334,567 327,893 493,827 Sinking Funds . . . 777,785 396,856 778,612 523,755 487,400 488,600 623,131 Dividends. (4) 3,280,111 (2) 1,640,056 (4$) 3,690,126 (6) 5,238,370 (6) 5,829,678 (6$) 6,652,557 (6) 8,819,722 Balance (+or — ). . . —813,641 —1,040,599 +2,392,667 +1,489,929 +2,099,084 +1,472,850 +1,263.389 Gross Earn. p. Mile. . 4,731.26 2,359.55 5,961.05 5.941.75 6,299.60 6,455.71 6,634.02 Gross Exp. p. Mile. . 2,942.96 1,485.10 3,659.10 3,661.94 3,951.33 4.184.36 4,194.04 Net Earn, per Mile. . 1,783.30 874.45 2,301.95 2,279.81 2,348.27 2,271.35 2,439.98 Expenses to Earn . . 61.84 p.c. 62.94 p.c. 61.38 p.c. 61.18 p.c. 62.73 p.c. 64.82 p.c. 63.22 p.c. $ $ 1 * $ S 1 Capital Stock. 82,004,200 82,004,200 82,004,200 93.725,400 98,447,500 110,577,700 110,800,600 Funded Debt 126,028,900 126,233,900 125,934,900 124,712,700 134,174,100 145,479,300 150,347.400 Con.Liab'ti's(BrLL) 2,801,000 2,801,000 2,801,000 1,725,000 1,725,000 1,725,000 1,725,000 Current Liabilities.. . 4,244,783 4,045,298 5,401,892 15,115,820 7,319,927 9,397,138 14,912,349 Profit and Loss 14,154,419 13,921,731 13,465,252 13,297,355 9,041,330 9,159,298 13,022,599 Income Account. . . . 11,511,392 10,730,906 12,252,236 13,690,216 15,722,392 17,217,349 19,785,021 Renewal Fund 9,000,000 9,000,000 10,000,000 10,000,000 10,000.000 10,000.000 10,000,000 Sinking Fund 16,171,350 16,618,811 18,133,976 19,277,294 20,375,366 21,599,245 20,352.290 Total Liabilities... 265,916,044 265,355,846 269,993,456 291,543,785 296,805,615 325,155,030 340,945,259 Road 4 Equipment.. 205,670,432 205,734,513 206,634,183 226,752,658 233,602,755 288,289.112 294.277,364 Materials on Hand . . 1,333,811 1,312,341 1,513,508 1,981.326 3.470,611 3,943,269 3,546,037 Sundry Trusts 10,288,813 10,442,354 11,434,680 12,310,250 13,155,469 13,939,946 12,673,355 Investments, Costs. . 38,479,644 38,945,593 38,812,202 38,041,253 39,898.962 9,204,746 14,970,415 Current Assets 6,628,092 6.128,288 6,009.290 5,364,514 3,421,152 5,245,162 7,366,990 Cash on Hand 3,515,252 2,792.757 5,589,593 7.093,784 3,250,666 4,532,795 8,111,098 Total Assets. .... 26-5,916.044 265,355,846 269,993,456 291,543,785 296,805,615 325,155,030 340.945,259 14. Land Department. — The Iowa grant, made under the Act of May 15, 1856, and acquired through consolidation with the Burlington and Missouri RR., consisted of 6 sections per mile. The 354 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. Nebraska grant, made under the Act of July 2, 1862. and acquired through consolidation with the B. M. RR. of Nebraska, consisted of 20 sections to the mile of line. The Iowa lauds are all sold and the accounts closed. The sales in Nebraska during the year ending June 30, 1902, were 10,276.94 acres for $57,- 766.68, an average of $5.62 per acre, and no lands having reverted, the net result of operations is represented by those figures. Cash receipts, $98,492.68. Disbursements : Taxes, $686.44 ; legal expenses, $2,116.20; salaries and office expenses, $7,342.85; advertising and commissions, $2,273.13 ; surplus paid treasurer, $86,074.06. Assets, June 30, 1902 — Principal, represented by contracts on hand, $139,103.06 ; interest, represented by contracts on hand, $18,004.73 ; town lots unsold, $250 ; and 2,962 acres unsold land, estimated at $5 per acre, $14,810 — total, $172,167 79 ; or, less partial payments ($2,657.12), $169,510.67. 15. RAILROADS CONTROLLED AND OPERATED BY THE C., B. & Q. RR. Co. BLACK HILLS AND FORT PIERRE RR. — Golden Gate to Piedmont. S. Dak., 37.94 m. ; branches, 8.06 m. — total, 46 m. ; total track, 52.76 miles. Gauge, 3 ft. Rail (steel, 40 m.), 40 Ibs. HISTORY. — Chartered June 15, 1881 ; road com- pleted in 1891. The entire capital stock having been acquired by the C., B. & Q. RR. Co., the road was taken over for operation by that com- pany on Aug. 1, 1901. ROLLING STOCK. — Locomotives, 5. Cars — passenger, 2 ; baggage, 2 ; freight ( box, 16 ; flat, 69; coal, 30), 115 — total, 119. FINANCIAL STATEMENT. — Capital stock, $500,000. Cost of property, $625,069. BURLINGTON AND WESTERN RR Winfleld to Oskaloosa, la., 70.7 m. ; Mediapolis to Washington, la., 38.73 m. — total, 109.43 miles. HISTORY. — Consolidation, in June, 1902, of the Burlington and Western RR. and the Bur- lington and Northwestern RR. (see MANUAL, for 1902, page 333). The road was broadened to the standard gauge on June 29, 1902, and was taken over for operation by the C., B. & Q. RR. Co. on Jan. 1, 1903. CORPORATE OFFICERS. — T. W. Barhydt, Pres. ; R. M. Green, Sec. & Treas., Burlington, la. 16. Board of Directors, Chicago, Burlington and Quincy RR. Co., elected Nov. 5, 1902. Chas. E. Perkins. Burlington.Ia. Edw. T. Nichols. New York.N.Y. George B. Harris. Chicago, 111. James J. Hill. . New York, N. Y. Wm. P. Clough. Robt. Bacon E.H.Harriman..New York.N.Y. Jacob H. Schiff. Geo. J. Gould... H. McK. Twombly New York, N. Y. | Norman B. Ream New York, N. Y. GEORGE B. HARRIS, President Chicago, 111. Vice-Pres., Sec. & Treas. — Thos. S. Howland, I Asst. Sec. — George H. Earle. ...New York, N. Y. Chicago, 111. | Gen. Aud. — C. I. Sturgis Chicago, 111. PRINCIPAL OFFICE AND ADDRESS Chicago, 111. DAVENPORT, ROCK ISLAND AND NORTHWESTERN RY. -Clinton to Davenport, la., 34.51 m. ; Davenport, la., by steel bridge across the Mississippi River, via Rock Island, to Rock River, 111., 12.25 m.; trackage (C., B. & Q. RR., 1.45 m.; C., M. & St. P., 0.72 m.), 2.17 m total, 48.93 miles; total track (steel; 70 Ibs.), 69.53 miles. Gauge, 4 ft. 8y2 in. History. — Incorporated under the laws of Iowa in Sept., 1898, as successor, by change of name, to the Davenport and Rock Island Bridge, Ry. and Terminal Co. The bridge over the Mississippi River was built under a charter obtained from the U. S. Government, work having been commenced in the spring of 1897 and finished about Jan. 1, 1899. The Clinton, Dubuque and Northwestern Ry. Co. was incorporated by persons interested in this company to build an extension of 54 miles from Clinton, la., northwest to Du- buque, la. Rolling Stock, June 30, 1902.— Locomotives, 7. Cars— freight (box, 20; flat, 35; coal, 70), 125; service, 2 — total, 127. Operations, year ending June 30, 1902. — Trains run (freight), 8,737 miles. Tons freight moved, 16,112; ton-miles, 233,875. Earnings (freight, $2,906; other, $240,480), $243,386. Operating expenses, $133,297. Net earnings, $110,089. Payments: Taxes, $9,410; rentals, $13,949; other charges, $99,950— total, $123,309. Deficit, $13,220. Sur- plus forward, $60,615. Net surplus, $47,395. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $3,000,000; current liabilities, $38,734; profit and loss, $47,395 — total, $3,086,129. Contra: Cost of road and equipment, $3,000,000; materials, etc., $12,144; cash and current assets, $73,985 —total, $3,086,129. Directors.— F. A. Delano, Henry R. Williams, James H. Hiland, Herman H. Field, Charles V. Carpenter, Henry W. Weiss, James C. Hutchins, Chicago, 111. OFFICERS : H. R. WILLIAMS, Pres.; James C. Hutchins, Vice-Pres.; P. L. Hinrichs, Sec. d Treas., Davenport, la. GENEBAL OFFICE, Davenport, la. JACKSONVILLE AND ST. LOUIS RY.— Jacksonville to Centralia, 111., 112.3 m.; trackage (Chicago, Peoria d St. Louis Ry.t Litchfield to Bridge June., 111., 47 m. ; Chicago Greenville and Southern Ry., 3.9 m.), 50.9 m. — total, 163.2 miles. Gauge, 4 ft. 8% in. Rail (steel) ,56 Ibs. POOR SSMANUAL OF RAILROADS. 355 History. — Reorganization, July 1, 1996, of the Jacksonville, Louisville and St. Louis Ry. Co. (see MANUAL for 1899, page 379). In March, 1902, a controlling interest in this company was acquired by the Chicago, Burlington and Quincy Ry. Co., but for the present the road will continue to be operated as an independent line. The Chicago, Greenville and Southern Ry. was sold under foreclosure on April 29, 1902, but this company continued to operate it until Jan. 1, 1903. Rolling Stock, June 30, 1902. — Locomotives, 8. Cars — passenger, 6; baggage, etc., 4; freight (box, 97; flat, 8; coal, 9G) , 201 ; other, 14 — total, 225. Operations, — Not reported for year ending June 30, 1902; for latest statement see MANUAL for 1902, page 424. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock ($100 shares), $1,500,000; funded debt, $2,300,000 ; current liabilities, $53,012; advanced by the bondholders' committee, $67,276; profit and loss, $1,867 — total, $3,922,154. Contra: Cost of road and equipment, $3,867,276; materials, etc., $17,842; cash and current assets, $33,- 770; other assets, $3,267— total, $3,922,154. Funded Debt. — The funded debt on June 30, 1902, consisted of $300,000 1st 6s of July 1, 1910; $350,000 ($650,000 auth.) 1st consol. gold 5s of Oct. 1, 1925, and $1,650,000 Income non- cum. 4s of Jan. 1, 1935. RAILROAD OPERATED BY THE J. & ST. L. RY. Co. UNTIL JAN. 1, 1903. foreclosure on April 29, 1902, and was bid In for 110,000 by Bluford Wilson, of Springfield, 111., acting as the representative of the bondholders. The operation of the road by the J. & St. L. Ry. Co. was abandoned on Jan. 1, 1903. Chicago, Greenville and Southern Ry. — Durley to Greenville, 111., 3.9 miles. Gauge, 4ft. 8J in. Rail (steel), 56 Ibs. Operated by the Jacksonville and St. Louis Ry. Co., without a written lease, for operating expenses, no rental being paid therefor. This road was sold under Directors, J. & St. L. Ry. Co.— Henry A. Gardner, E. M. Shelton, A. T. Williams, H. W. Weiss and J. A. Connell. OFFICERS: HENRY A. GARDNER, Pres. & Gen. Atty.; H. W. Weiss, Sec. & Treas., Chicago, 111.; W. E. Crane, Gen. Mgr.; Geo. W. Dye, Aud., Jacksonville, 111. GENERAL OFFICE, Jacksonville, 111. CHICAGO, INDIANAPOLIS AND LOUISVILLE RAILWAY COMPANY. (For map of this road, see page 357.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Directors and Officers 13 Earnings, Expenses, etc 6 Funded Debt 9 Gen. Bal. Sheet, June 30, 1902. 7 Guaranteed Bonds 10 History 2 Income Acct, June 30, 1902.. 6 Investments 11 Joint Interests 3 Leased Line, Statement of.. 12 Mileage and Equip.,1896-1902. 4 Mileage Operated 1 Operations and Inc., 1896-1902. 4 Preferred Stock Preference.. 8 Rolling Stock 5 1 . Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 508.85 miles). Main Line: New Albany to Michigan City, Ind 288.86 miles. Chicago Division: State Line, 111., to Mass. Ave., Indianapolis, Ind 161.94 " Bedford and Bloomfield Branch: Bedford, Ind., to Swittz City, Ind 40.29 French Lick Branch : Orleans to French Lick Springs, Ind 17.76 " B. LEASED LINE: Indiana Stone RR. : Harrodsburg to Clear Creek, Ind 9.22 " O. TRACKAGE RIGHTS (total, 28.04 miles) : Chicago & Western Ind. RR. : Ind. State Line to Chicago, 111 19.86 " L. Erie d W. Ey.: Mass. Ave. to Union Depot in Indianapolis, Ind 1.76 " P., C., C. & St. L. By.: New Albany, Ind., to Louisville, Ky 6.42 " Total length of lines operated, June 30, 1902 546.1 1 miles. Sidings, etc., 170.44 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 52 to 75 Ibs. 2. History.— Reorganization, March 31, 1897, of the Louisville, New Albany and Chicago Ry. Co., whose property was sold under foreclosure on March 10, 1897 (see MANUAL for 1897, page 106). In July, 1902, more than 87 p. c. of the capital stock of this company was acquired in the joint interest of the Louisville and Nashville RR. Co. and the Southern Ry. Co. ( see statements for those companies ) . 356 POOR S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. 3. Joint Interests. — The freight house, tracks and yards of this company, and the tracks and yards of the C., H. & D. Ry. Co., in Indianapolis, Ind., are used jointly by the two companies, the rental and operating expenses being apportioned on a wheelage basis. This company, the Southern Ry. Co., and the B. & O. S. W. Ry. Co. own the Kentucky and Indiana Bridge property, each one-third. This company owns one-fifth interest in the C. & W. I. RR. and Belt Ry. of Chicago, the operation of which during the past year yielded a profit which permitted the payment of 6 p. c. dividends to the stockholders. 4. Statement of operations, property, and capital accounts for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles of Railroad Owned 510.50 661.53 608.65 537.11 91 61 18 5,532 987,558 1,282,752 2,991,190 913,475 37,754,867 1,843,307 265,717,820 $ 777,994 2,258,834 255,144 508.85 658.62 606.75 535.46 95 61 18 5,327 1,100,304 1,104,549 2,943.699 850,248 34,281,876 1,694,468 231,858,540 $ 697,428 1,944,489 260,843 508.85 661.60 611.31 535.46 83 58 18 5,200 1,097,786 1,322,650 3,317.685 914,345 40,975,547 1,998,039 304,304,920 787,322 2,281,294 255,055 508.85 662.42 626.26 535.46 86 57 19 5,325 1,114,544 1,184,527 3,200,554 1,005,200 46,036,848 2,154,430 318,005,985 $ 869,263 2,375,351 256,507 508.85 665.67 635.04 546.11 87 57 19 5,536 1,129,495 1,323,179 3,385,903 1,095,024 49,340,980 2,526,710 385,542,422 981,593 2,917,123 279,172 508.85 666.66 666.66 546.11 86 62 19 5,749 1,155,579 1,228,213 3,234,391 1,167,476 52.794,103 2,373,923 357,706,918 S 1,020,198 2,850,470 279,802 508.85 679.25 679.25 546.11 93 62 20 5.950 1,205,733 1,345,664 3,497,758 1,289,949 56,191,002 2,631,487 421,279,146 $ 1,110,467 3,190,217 280,474 Miles of Track Owned Miles of Steel Rail Miles of Railroad Operated Locomotives. Passenger Cars Baggage, etc.. Cars Freight and Other Cars Passenger Train Miles Freight Train Miles. Total Engine Mileage Passengers Carried. Passenger Mileage. Freight (tons) Moved. Freight (ton) Miles. Passenger Earnings Freight Earnings Other Earnings Total Earnings 3,291,972 2,180,388 2,902,760 2,042,438 3,323,671 2,356,008 3,501,121 2,354,950 4,177,888 2,628,206 4,150,470 2,653,542 4,581,158 2,853,133 Expenses and Taxes Net Turnings 1,111,584 70,800 860,322 74,400 967,663 80,149 1,146,171 93,734 1,549,682 120,559 1,496,928 148,754 1,728,025 129,447 Other Receipts Net Income 1,182,384 773,496 25,888 220,103 162,897 6,12904 4,05948 2,069 56 66.24 p.c. 2.061 c. 0.850 c. 934,722 775,450 9,929 224,405 def. 75,062 5,42106 3,814 36 1,60670 70.36 p.c. 2.034 c. 0.839 c. 1,047,812 745,450 1,239,905 752,700 1,670,241 761,950 1,645,682 771,294 1,857,472 772.100 Interest on Bonds Other Interest, etc Rentals 213,233 89.129 6,20713 4,39997 1,80716 70.89 p.c. 1.921 c. 0.750 c. 212,457 274748 6,53853 4.39800 2,140 53 67.26 p.c. 1.864 c. 0.747 c. 221,611 686,680 7,781 65 4,89524 2,866 41 62.91 p.c. 1.989c. 0.757 c. 221,614 652,774 7,751 22 4,95563 2,795 59 63.93 p.c. 1.932 c. 0.797 c. 199,197 886,175 8,55556 5,32838 3,22718 62.28 p.c. 1.976 c. 0.757 c. Balance, Surplus Gross Earnings per Mile. Gross Expenses & Taxes per Mile . . . Net Earnings per Mile Expenses to Earnings Aver. Rate per Pass, per Mile Aver. Rate per Ton per Mile I 5» Rolling Stock, June 30, 1902. — Locomotives, 93. Cars — passenger, 42; combi- nation, 13; parlor and dining, 4; officers', 3; baggage, mail, and express, 20; freight (box, 2,785; flat, 2,055; stock, 200; coal, 934; refrigerator, 41; furniture, 120), 6,135; caboose, 45; service cars, 100 — total cars, 6,362. Included in this total are 5 flat and 330 box "Line" cars, not owned, but bearing the initials of the company, and 100 flat, 50 stock, and 100 furniture cars held under car trust. (J. General Income Account, year ending June 30, 1902. Expenses — Maint. of Way and Struc... $543,379 83 Maintenance of Equipment. 568,818 86 Conducting Transportation. 1,260,168 30 General Expenses 287,24140 Total ($4,870.09 per mile) $2,659,60839 Earnings — Passenger $1,110,467 37 Freight 3,190,21637 Mail and Express 243,14358 Miscellaneous 37,33058 Total ( $8,555.56 per mile ) $4,581,157 90 Net earnings (41.94 p. c.), $1,921,549.51; dividends from stocks owned, $79,211; in- terest from bonds owned, $37,311.10; other interest and discount, $12,924.99 — total net income, $2,050,996.60. Payments: interest on bonds, $772,100; rentals, $199,196.67; taxes MfS^H Qenevaii>4:t^?USa§|s — T4rchepAv^S« Wrty^^tVSra Aurora xJ^leW dB / Y/^ HAMNIOI IDJ Jolie/s/MJnlrd1 xXa»e^T-°rf / / /,_ / 8t/Job / / (/)<5eda7 Lai / / / Loi §2seX MoWncfSgllf ^^^^ m\^ ^^S^^^oH^x ||^ 1 CHJG^jVlca ^ 8mrffi\Bend ^\n-*i**&a&w. f y^ S \ /I ^2^ Vsteuben/lle Go^Bn •Wolcbttville--^- ^tt— f-^\Wft«8e5n~ JtontpfeliepPsF--. -^ /^J^apoXnXV^. 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C-n^&-— ^^^^LE \ g(^^Sa^R^^^i^ x .L NEW AWJ ^^Cann»toa V/T*^ ^i^rCf^111*1 ^™ ~^ Elizab MAP OF THE Ceciltai CHICAGO, INDIANAPOLIS & K LOUISVILLE wf RAILWAY. £ ^ ^ ^4em « / ^^^xLivringston E N/T U % K\ Y Munford- OQreenibTirg Iwaynesburg rrf ville \ / Somerset \ •TOlasgowJo. \R. CorblnA ^SjQiaigow \f'^^' — 1~^*\ l^s. phlS JC. »-«S-'0* C^^TOOlt BR08.|eHICA@4 I 37^^ 357 358 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. $188,307.79; revenue tax, $5,217.08— total, $1,164,821.54. Surplus, $886,175.06 j surplus forward, $1,397,583.21 — total, $2,283,758.27. Deductions: Preferred dividends (No. 4, Oct. 15, 1901; No. 5, April 15, 1902, 2 p. c. each), $200,000; common stock dividend (No. 1, May, 1902, 1 p. c.), $105,000 — total, $305,000. Balance to credit of profit and loss, $1,978,758.27. 7. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $28,271,715 72 Investments (see Sec. 11) 1,928,51434 Materials and Supplies 353,133 93 Cash on Hand 408,916 30 Current Assets 779,70591 Refund. Mtge. 5 p. c. Bonds on Hand. 400,000 00 Unadjusted Accounts 52,680 68 Improvements, 1901 and 1902 409,56371 Total Assets 132,604,23059 Common Stock Paid in($100 shares) ..$10,500,000 00 Preferred Stock Paid in( $100 shares). 5,000,00000 Funded Debt Outstanding 13,842,000 00 Car Trust Notes of 1896 16,085 00 Other Liabilities 8,54497 Reserve Account 228,758 54 Current Liabilities 952,953 65 Road and Equip. Replacement Accts.. 77,130 16 Profit and Loss 1,978,758 27 Total Liabilities $32,604,230 59 8. Preferred Stock Preference. — The preferred stock has priority over common stock for dividends at the rate of 4 p. c. per annum, non-cumulative. O. Funded Debt — The funded debt outstanding, June 30, 1902, consisted of $3,000,000 L., N. A. & C. Ry. Main Line 6s of July 1, 1910 ; $2,300,000 C. & I. Div. 1st 6s of Aug. 1, 1911, $4,700,000 Refunding 6s of July 1, 1947, and $3,842,000 Refunding 5s of July 1, 1947. Both issues of refund- ing mortgage bonds are secured by the same mortgage, dated July 1, 1897, and covering the entire property and assets of the company, including its ownership in the Chicago and Western Indiana RR. and Belt Ry. of Chicago, and the terminals in Lafayette and Indianapolis, but subject to the prior liens of the L., N. A. & C. Ry. Co. divisional mortgages, for the retirement of which a sufficient amount of the 5 p. c. bonds is reserved. The remainder of the $15,000,000 of bonds authorized by the refunding mortgage can be issued only for future acquisitions to be placed under the mortgage, not more than $300,000 of such reserved bonds to be issued in any one year. In the agreement under which the majority interest in the capital stock of this company was acquired by the Louisville and Nashville RR. Co. and the Southern Ry. Co. (see Sec. 2), it is provided that this company shall not execute or issue any bonds except for the refunding of its exisiing obligations, for the acquisition of additional property, f MeCook to Franklin Park, 111 10.36 " (27 SfcWnlv 1 Archer Ave., Chicago, to 39th Street, Chicago, 1111 1.22 « I 34th Street, Chicago, to 39th Street, Chicago, 111 0.84 " [ 47th Street, Chicago, to Morgan & Wallace Sts., Chi., 111.. . 0.99 " Branches: Whiting, Ind., to Blue Island, 111., 0.90 m.; McCook, 111., to Franklin Park, 111., 1.75 in 2.65 " B. LEASED LINE: Union Stock Yards and Transit Line 8.76 " O. TRACKAGE RIGHTS (see details in Sec. 2) 36.04 " Total mileage operated, June 30, 1902 74.93 miles. 2d track (owned, 17.84 m.; leased, 8.54 m.), 26.38 m.; sidings (owned, 24.95 m.; leased, 106.82 m.), 131.77 m. Total track (owned, 72.92 m.; leased, 124.12 m.), 197.04 miles. Gauge, 4 ft. 8^ in. Rail (steel), 75 Ibs. 5- Operations, year ending June 30, 1902.— Train mileage (freight), 158,039 miles. Tons of freight moved, 2,408,024; moved one mile, 57,509,216. Gross earnings (freight, $471,108.23; other, $1,427,759.44), $1,898,867.67. Operating expenses (maint. way and structures, $198,933.25; maintenance of equipment, $107,508; transportation, $762,677.02; general, $59,044.11), $1,128,162.38. Net earnings, $770,705.29; other income, $9,809.05— total, $780,514.34. Payments: Lease rental, $420,248.08; taxes, $17,848.52; interest on bonds, $125,400; other interest, $6,893.68; dividends (6 p. c.), $132,000— total, $702,- 390.28. Surplus, $78,124.06; surplus forward, $480,398.91; additions during year, $8,- 118.72— total surplus, June 30, 1902, $566,641.69. 6. General Balance Sheet, June 30, 1902. Cost of Road $4,280,283 86 Cost of Equipment 389,46388 Securities Owned 102,50000 Materials and Supplies 99,24041 Cash and Current Assets 637,328 04 Total Assets $5,508,816 19 Capital Stock ($100 shares) $2,200,00000 Funded Debt (see Sec. 7) 2,090,00000 Current Liabilities 652.174 50 Profit and Loss 566,641 69 Total Liabilities $5,508,816 19 7. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of 1st 6s of Jan. 1, 1927, secured by mortgage dated Jan. 1, 1897, and covering the entire property of the company. The amount outstanding on June 30, 1903, was {2,390,000, an increase of $300,000 during the year. 8. Directors. —J. A. Spoor, A. G. Leonard, P. A. Valentine, Chicago, 111.; Wm. C. Lane, New York, N. Y. ; J. P. Lyman, R. Fitzgerald, F. S. Winston, A. H. Veeder, Chi- cago, 111.; Nathaniel Thayer, Boston, Mass. J. A. SPOOB, President Chicago, 111. R. Fitzgerald, Vice-President " " Sec. d Treas. — C. D. Moyer Chicago, 111. \ Auditor — C. C. Chace Chicago, 111. PRINCIPAL OFFICE AND ADDRESS Monadnock Building Chicago, 111. CHICAGO, MILWAUKEE AND ST. PAUL RAILWAY COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Bonds and Stocks Owned... 13a Bond Issues Afloat, 1896-1902.. 10 Capital Expenditures 12 Capitalization per mile 7 Capital Stock 8 Directors and Officers 14 Dividend Rights 8 Earnings, Expenses, etc 5 Funded Debt, Details of... Gen. Bal. Sheet, June 30, J902 Gen. Balances, 1896-1902.... History Income Acct, June 30, 1902. . Income Account, 1896-1902... Interest on Bonds, Details.. Lines of Road Mileage and Equip., 1896-1902. 4 Mileage Operated 3 Operafs and Inc., 1896-1902... 4 Renewal Fund 11 Rolling Stock 2 Stocks and Bonds Owned 13a Trackage and Term. Rights. 3a Track Mileage ;;<• 360 CENTRAL NORTHERN GROUP. 1. History. — Organized as Milwaukee and Rt. Paul Ry. Co., May 5, 1863; present name adopted Feb. 14, 1874. The steady growth of the system ia recorded in previous numbers of the MANUAL, particularly those of 1888 and 1892. A branch from a point 3.4 miles west of Preston to Green Island, la., a distance of 11.9 miles, was completed and put in operation in October, 1901. The new line between Chicago and Kansas City, re- ferred to in the MANUAL for 1902 on pages 339-340 was expected to be completed late in the spring of 1903. At the date of the annual report work was in progress on three addi- tional lines — From Farmington to Mankato, Minn., 56 miles ; from Zumbrota to Faribault, Minn., 35 miles; and from Eureka to Linton, N. D., 49 miles. On March 1, 1903, the extension to Linton was practically completed, the line to Mankato was completed, 30 miles, to Le Sueur, and construction was in progress on the Faribault line. The gauge of the line from Reno to Preston, Minn., was broadened to the standard during the past fiscal year, and that of the line from Wabasha to Zumbrota, Minn., was broadened to the standard after June 30, 1902, leaving in the whole system only the line from Bellevue to Cascade, la., of 3 ft. gauge. Under a contract with the Northern Pacific Ry. Co. this company has the use of the Northern Pacific's St. Paul-Duluth line for the term of 99 years from Oct. 1, 1900. This company has made a traffic contract with the Union Pacific RR. Co. for through freight and passenger service from Chicago to the Pacific Coast, the agreement to remain in force until either party withdraws. After June 30, 1902, the company purchased the Wisconsin Western RR., a line extend- ing from La Farge to Wauzeka, Wis., a distance of 51.68 miles (see MANUAL for 1902, page 433). 2. Boiling Stock, June 30, 1902. — Standard Gauge: Locomotives, 946. Cars — pas- senger, 445; sleeping, 62; parlor, 19; dining, 10; baggage, mail, express and combination, 337; freight (box, 27,135; stock, 3,135; flat, coal, and ore, 7,060; refrigerator and vege- table, 1,237; ballast, 185), 38,752; service, 597— total, 40,222. 'Narrow Gauge: Loco- motives, 7. Cars — passenger, 4; baggage, mail, express, and combination, 5; freight (box, 189; stock, 56; flat, 39), 284; caboose, 5— total, 298. At the close of the fiscal year, June 30, 1902, there was a shortage of 237 cars (1 pos- tal, 218 flat, 3 refrigerator, and 15 caboose), the amount to replace which, $113,350, is charged to operating expenses for the year and is shown at the credit of the account of "Replacement Fund — Care" on the general balance sheet. 3. Mileage Operated, June 30, 1902. Alain Line: Chicago, 111., to Minneapolis, Minn 420.00 miles. Other divisions and branches, owned absolutely 6,158.21 " Lines owned jointly with other companies 25.64 Lines operated under trackage rights 150.25 " Total length of lines operated, June 30, 1902 6,754.10 miles. 3a. Trackage and Terminal Rights.— Statement of mileage used by the company under contracts for trackage or terminal rights, also showing the annual consideration paid therefor : NAME or COMPANY. Designation of Property. Situation of Property. Miles of Line. Annual Consideration. P..C.,C.ASt.L.Ry. Illinois Central RR Kansas City Belt Ry... ChL, BurL AQui. RR.. Union Pacific RR Des M. Union Ry Dav.. R. I. & N. W. Ry Escan. A L'ke Sup. Ry. BurL.C.RANo.Ry . Total Tracks Chicago 111 . .... 2.37 0.67 6.83 11.97 8.60 1.72 51.35 65.43 1.31 Proportion of maintenance. $3,240 yearly rental. 3 p. c. on value, A prop'n maint. Proportion of maintenance. $45,000 yearly rent A prop'n maint. Proportion of maintenance. Tracks Tracks A term' Is. Tracks & term" Is Track A term' Is . Tracks A term' Is Tracks A term' Is Tracks . . Rockford to Davis Junction, 111 Coun. Bluff* Trans, to So. Omaha Des Moines, la Clinton, la., to East Moline, 111 Channing to Escanaba, Mich Tracks 150.25 POOR'S MANUAL — CHICAGO, MILWAUKEE AND ST. PAUL RY. CO. 361 3b. Lines of Road Owned. — Statement in detail of the lines owned absolutely and of the lines in which the company is jointly interested with others, June 30, 1902: LINES OWNED ABSOLUTELY. Miles. Chicago, 111., to Milwaukee, Wis 82.59 Rondout, 111., to Janesville, Wip 66.90 South Milwaukee to La Crosse, Wis , . 190.70 Watertown Junction to Madison, Wis 36.48 Portage City to East Madison, Wis 33.01 Viroqua Junction to Viroqua, Wis 32.17 North La Crosse to Onalaska, Wis 3.76 North La Crosse, Wis., to Minneapolis, Minn 138.10 St. Croix Junction to Stillwater, Minn.. 24.78 Milwaukee, Wis., to North McGregor, la. 196.62 Mazomanie to Prairie du Sac, Wis 10.37 Lone Rock to Richland Center, Wis..... 16.22 Calmar, la., to Minneapolis, Minn 172.02 Conover to Decorah, la 10.00 Austin, Minn., to Mason City, la 39.29 Mendota to St. Paul, Minn 0.36 Northfield to Cannon Junction, Minn 31.98 N. McGregor, la., to Chamberlain, S. D. 441.25 Beulah to Elkader, la 19.20 Spencer to Spirit Lake, la 20.18 Rock Valley, la., to Hudson, S. D 9.38 Marion June, to Running Water, S. D.- 62.85 Chestnut St., Milwaukee, to Portage City, Wis 100.24 Cement Line Junction to Rock, Wis 1.06 Iron Ridge to Fond du Lac, Wis 30.66 Horicon to Berlin, Wis 42.30 Brandon to Markesan, Wis 11.49 Ripon to Oshkosh, Wis 19.09 Rush Lake Junction to Winneconne, Wis. 14.89 Merrill Park to North Milwaukee, Wis.. 6.17 Granville to North Lake, Wis 20.08 S. Minneapolis, Minn., to Aberdeen, S. D. 285.76 Glencoe to Hutchinson, Minn 13.45 Hopkins to Lake Minnetonka, Minn 7.84 Hastings to Benton Junction, Minn 53.71 Milbank to Sisseton, S. D 37.24 Andover to Harlem, N. D 55.91 Wabasha to Zumbrota, Minn 60.21 Racine, Wis., to Kittredge, 111 119.94 Savanna to East Moline, 111 47.70 Janesville to Beloit, Wis 13.86 Blkhorn to Eagle, Wis 16.59 Rockton to Rockford, 111 14.94 Manilla, la., to Mitchell, S. D 225.68 Elk Point, la., to Sioux Falls June., S.D. 102.73 Tripp to Armour, S. D 20.45 Napa to Platte, S. D 82.00 North Chicago to Savanna, 111 138.71 Galewood to Dunning, 111 2.98 Savanna, 111., to Council Bluffs, la 349.14 Elk River Junction to Clinton, la 10.58 Davenport to Jackson Junction, la 151.50 Eldridge to Hurstville, la 34.61 Paralta to Farley, la 43.63 La Crescent, Minn., to Woonsocket, S. D. 393.42 Wells to Mankato, Minn 38.08 Madison to Bristol, S. D 103.02 Milton to Shullsburg, Wis 76.84 Brodhead to New Glarus, Wis 22.78 Warren, 111., to Mineral Point, Wis 32.29 Calamine to Platteville, Wis 17.14 Sabula June., la., to River June., Minn.. 161.11 Miles. Browns to Green Island, la 11.90 Bellevue to Cascade, la. (3 ft. gauge).. 35.77 Turkey River June, to West Union, la. 58.34 Waukon Junction to Waukon, la 22.95 Reno to Preston, Minn 57.77 Toman to Star Lake, Wis 183.22 New Lisbon to Vesper, Wis 50.07 Dexterville to Romadka, Wis 27.65 Wabasha, Minn., to Chippewa Falls, Wis. 61.38 Red Cedar Junction to Menomonie, Wis. 16.32 Ortonville, Minn., to Fargo, S. D 116.97 Mitchell, S. D., to Edgeley, N. D 192.98 Aberdeen to Bowdle, S. D 57.02 Bowdle to Evarts, S. D 40.65 Orient to Eureka, S. D 67.38 Marion, la., to Coburg, Mo 299.54 Chicago to Llewellyn Park, 111 13.59 N. Milwaukee, Wis., to Champion, Mioh. 253.81 Hilbert Junction to Appleton, Wis 6.03 Oconto Junction to Oconto, Wis 11.94 Ellis June., Wis., to Menominee, Mich. 22.43 Wausaukee to Girard Junction, Wis 17.65 Channing to Ontonagon, Mich 92.87 Kelso to Crystal Falls, Mich. 6.94 Des Moines to Spencer, la 155.46 Clive to Boone, la 34.97 Rockwell City to Storm Lake, la 38.58 Total Owned Absolutely 6,578.21 MAIN TRACK IN WHICH THE COMPANY is JOINTLY INTERESTED WITH — Chi. & Northwest. Ry. Co., Chicago, 111. I Pitts., Cin.,Chi.&St.L.Ry.Co., Chicago, 111. f Wis. Cent. Ry., Chippewa Falls, Wis Chi. & Northwest. Ry. Co., Chicago, 111. I Pitts., Cin.,Chi.&St.L.Ry.Co., Chicago, 111. | C., St. P., M. & O. Ry. Co., Mendota to St. Paul, Minn C., B. & Q. RR. Co., Davis Junction, 111. Burl., C.R. & No.Ry.Co., Davenport, la. Illinois Central RR. Co., Sioux City, la. ) C.,St.P., M. & O. Ry. Co., Sioux City, la. V Sioux City & Pac.Ry.Co., Sioux City, la. ) C. & N. W. Ry. Co., Fond du Lac, Wis.. W. C. Ry. Co., Neenah to Menasha, Wis. W.C.Ry.Co., Hilbert Jc. to Menasha, Wis. C., B. & Q. RR. Co., Clinton, la I Burl., C. R. & No. Ry. Co., Clinton, Ia..( 0.39 1.63 0.16 5.20 0.16 1.87 0.11 0.28 1.39 14.41 0.04 Total Owned Jointly 25.64 Total Lines Operated 6,603.85 Trackage Rights (details elsewhere). 150.25 Grand Total... 6,754.10 3c. Summary Of Track Mileage. — Statement showing the mileage of all tracks operated by the company on June 30, 1902, and the length of same laid with steel rails: Main Track. LinesOwned Absolutely 6,578.21 Lines Owned Jointly. 25.64 Trackage Rights. 150.25 Second Third Fourth Connect. Sidings, Track. Track. Track. Track. etc. 287.40 5.57 1.72 3431 1,710.17 1.83 4.44 61.92 18.82 1.14 Total Steel Track. Rail. 8,617.38 8,028.13 93.83 93.83 170.21 170.21 Totals 6,754.10 308.05 6.71 1.72 38.75 1,772.09 8,881.42 8,292.17 Gauges, 4 ft. 8^ in. and (Cascade Branch, 35.77 miles) 3 ft. Rail, 56 to 85 Ibs. 362 POOR'S MANUAL OP RAILROADS — CENTRAL NORTHERN GROUP. 4. Statement of operations, etc., property and capital account for seven fiscal years : 1896 1897 1898 1899 1900 1901 1902 Mileage Operated . . Paw. Train Mileage. Frt. Train Mileage.... Mixed Train Mileage 6,153.27 7,788,709 13,526,151 970,799 6,152.55 7,819.919 12,387,036 992,511 6.153.83 7,930,481 13,880,445 1,140,398 6,153.72 8,188,048 15,331,606 1,125,398 6,347.38 9,031,841 15,124,734 1,242,986 6,512.38 9,635,637 14,541,938 1,128,138 6,604.57 9,974,283 14,876,792 1,089,099 Total Rev Tr. Mil. .. 22,285,659 21,199,466 22,951,324 24,645,052 25,399,561 25,305,713 25,940,174 Passengers Carried . Passenger Mileage. . Frt. (tons) Moved.. . Frt. (ton) Miles. . . . Pass. Earnings Freight Earnings. . . Other Earnings 7,427,614 260,821,497 12,210.055 2,381,667,988 $ 6,147.679 23,887,930 2,646,220 7,154,689 251,110,669 11,554,153 2,193,241,080 f 5,717,496 22,104,803 2,664.469 7,095,641 253,485,504 14,230,742 2,621,348,372 $ 5,986,840 25,468,852 2,733,972 7,677,769 290,017,172 15,830,156 3,070,579,710 $ 6,778,921 28,773,222 2,758,489 8,677,822 328,178,516 17,757,419 3,357,456,584 $ 7,698,514 31,220,217 2,965,961 8,319,227 341,043,592 18,010,683 3,639,977,919 1 7,939,216 31,357,992 3,071,804 9,158,957 384,944,875 19,885,573 3,990,048,676 $ 8,918,966 33,516,812 3,177,347 Gross Earnings Oper. Expenses 32,681,829 18,594,724 30,486,768 17,393,308 34,189,664 20,067,436 38,310,632 22,776,670 41,884,692 27,162,829 42,369,012 26,636,112 45,613,125 28,796,734 Net Earnings 14,087,105 13,093,460 14,122,228 15,533,962 14,721,863 15,732,900 16816391 Other Receipts 64,857 162,823 131,018 117,411 144,755 174,682 434,315 Net Income 14 151 962 13,256,283 14,253,246 15,651,373 14 866 618 15 907,582 17250706 Charges — Taxes .... 1,082,084 7611928 1,184,231 7488747 1,134,131 7,190,431 1,186,166 6,890,120 1,258,008 6 633 170 1.341,390 6383035 1,400,161 6 210 086 Pref. Dividends . . Com. Dividends. .. Balance, Surplus . . . Gross Earn p. Mile.. . Oper. Exp. per Mile.. Net Earn, per Mile. . Expenses to Earn Av.Rate p.Pass.p.M Av.Ratep.Tonp.M Miles of RR.Owned* Miles TrackOwned* Miles Steel Rails* . . Locomotives .... (7) 1.872.178 (4) 1,841,090 1,744,682 5,311 13 3,021 93 2,289 20 56.90 p.c. 2.36 c. 1.00 c. 6,145.19 7,745.83 5,954.63 833 (7) 1.971,928 (5) 2,301,343 310,034 4,955 14 2,82708 2,128 06 57.05 p.c. 2.28 c. 1.01 c. 6,148.24 7,776.16 5,990.19 830 (7) 2.200,968 (5) 2,301,330 1,426,386 5,555 83 3,26097 2,294 86 58.69 p.c. 2.36 c. 0.97 c. 6,148.24 7,844.98 6,225.05 815 (7) 2,411,126 (5) 2,341,405 2.822,556 6,225 61 3,701 28 2,524 33 59.45 p.c. 2.34 c. 0.94 c. 6,147.91 7,910.52 6,675.74 813 (7t 2,686,610 (5) 2,357,105 1,931,725 6,598 74 4,263 62 2,335 12 64.85 p.c. 2.35 c. 0.93 c. 6,409.87 8,262.91 7,593.92 837 (7) 2,998,181 (6) 3,089,112 2,095,864 6,505 92 4,090 07 2,415 85 62.87 p.c. 2.32 c. 0.86 c. 6,583.50 8,547.39 8,284.19 897 (7) 3,235,288 (7) 4,072,873 2,332,298 6,906 30 4,360 12 2,546 18 63. 13 p.c. 2.32 c. 0.84 c. 6,591.03 8,664.29 8,075.04 953 Pass. Train Cars Freight Train Cars.. Preferred Stock .... Common Stock Funded Debt . . . 777 27,961 $ 26.895,900 46,027,261 139 161 000 778 27,819 $ 29,054,900 46,026,600 137 762 000 784 30,264 1 31,818,400 46,026,600 136588500 777 34,115 35,595,400 46,923,600 136226500 833 36,648 1 40,454,900 47,146,600 131 147 000 860 38,327 $ 44,658,400 55,821,800 126 941 500 896 39,624 $ 46,682,400 58,183,900 124 796 500 Special Fundsf Current Liabilities.. . Income Account. . . . 1,306,286 6,348,537 7,663,867 1,624,873 6,001,629 8,509,720 2,557,774 6,726,156 9,802,695 3,727,597 6,895,848 12,779,871 3,767,190 7,005,210 14,887,254 4,110,209 7,307.697 17,626,229 5,557,225 7,401.492 20,682,069 Total Liabilities... Cost of Property. . . . Stocks Bonds, etc. . Special Fund Assets Materials A Fuel . . . Current Assets Cash on Hand 227,402,851 211,830,735 5,451,236 1,022,082 1,846,511 1,658,668 5,593,619 228.979.722 212,594,714 6,318,856 1,642,485 1,911,288 1,538,911 4,973,468 233,520,125 214,195,295 7,432,223 2,580,793 2,265,902 1,958,169 5,087,743 242,148,816 218,506,635 9,252,187 3,758,394 2,467,794 1,786,314 6,377,492 244,408,154 218,302,681 9,453,391 3,827,730 3,494,898 4,241,053 5,088,401 256,465,835 224,288,833 9,264,853 4,055,668 3,217,291 2,121.014 13,518,176 263,303,586 228,731,116 7.233,122 5,476,785 3.996,818 2,315,184 15,550,561 Total Assets 227,402,851 228,979,722 233,520,125 242,148,816 244,408,154 256,465,835 263,303,586 •Includes one-balf of mileage owned jointly with other companies, rolling stock, replacement fund, and renewal fund. tlncludes sinking funds, 5. General Income Account, year ending June 30, 1902. Earnings— Passenger $8,918,96630 Freight 33,516,81226 Mall and Express I Miscellaneous f Total ($6,906.30 per mile) $45,613.124.84 Expenses— Malnt. Way and Struct.*.. $9,694,13622 Malnt. of Equipment 3,363,59635 Conducting Transportation 14,881,635 19 General Expenses 857,36707 Total ($4,360.12 per mile) $28,796,733 * Includes $2,475,000 credited to renewal and improvement account. Net earnings (36.87 p. c.), $16,816,391.01; other income, $434,314.68— total, $17,250,- 705.69. Payments: Taxes (general, $1,351,577.76; revenue stamps, $48,583.45), 11,400,- 161.21; interest on bonds (see Sec. 5a), $6,210,086.11; dividend No. 64, payable April 23, POOR'S MANUAL CHICAGO, MILWAUKEE AND ST. PAUL RY. CO. 363 1002 (3y2 p. c. on preferred stock, $1,601,404; and 3 p. c. on common stock, $1,745,517), $3,346,921— total, $10,957,168.32. Surplus, $6,293,537.37. Credit balance, June 30, 1901, $17,626,229.24; less dividend No. 63, paid Oct. 29, 1901 (3y2 p. c. on preferred stock, $1,563,044; and 3 p. c. on common stock, $1,674,654), $3,237,698; balance, July 1, 1901, $14,388,531.24. Credit balance, June 30, 1902, $20,682,068.61. Dividend No. 65 (Zy2 p. c. on preferred stock, $1,633,884; and 4 p. c. on common stock, $2,327,356), $3,961,240, was paid in Oct., 1902, from the earnings of the fiscal year ending June 30, 1902, leaving a surplus of $2,332,297.37 from the year's business and a credit balance of $16,720,828.61 to be carried forward. A dividend of 3j/£ p. c. on each class of stock, amounting to $3,694,- 435.50, was paid on April 23, 19D3. 5 a. Interest Accrued on Bonds. — St. P. Div. bonds (matured and interest ceased Jan. 1, 1902), $2,450; H. & D. Div. 1st 7s, 1903, $770; C. & M. Div. 1st 7s, 1903, $13,440; consol. 7s, 1904, $3,710 ; consol. 7s, 1905, $182,420 ; I. & D. Ex. 1st 7s. 1908, $85,820 ; S. W. Div. 1st 6s. 1909, $240,000 ; H. & D. Ex. 1st 7s, 1910, $397,600 ; H. & D. Ex. 1st 5s, 1910, $49,500 ; C. & P. Div. 1st 6s, 1910, $180,000 ; So. Minn. Div. 1st 6s, 1910, $445,920 ; M. Pt. Div. 1st 5s, 1910, $142,- 000; Terminal 5s, 1914, $237,400; L. C. & D. Div. 1st 5s, 1919, $125,000; Dub. Div. 1st 6s, 1920, $360,420 ; Wis. Val. Div. 1st 6s, 1920, $130,740 ; C. & P. W. Div. 1st 5s, 1921, $1,267,000 ; W. & M. 1st 5s, 1921, $237,750 ; C. & L. S. Div. 1st 5s, 1921, $68,000 ; C. & M. R. Div. 1st 5s, 1926, $154,150; gen. mtge. 4s, 1989, $960,000; gen. mtge. 3Js, 1989, $359,205; W. V. RR. 1st 7s, 1909, $77,455; M. & N. RR. 1st 6s, 1910, $129,300; M. & N. RR. Con. 6s, 1913, $305,520; D. & Gt. S. Ry. 1st 5s, 1916, $142,800 ; F. & S. Ry. 1st 6s, 1924, $75,000 ; interest on bonds retired, $43,400 — total, $6,416,770. Less interest on bonds held in the treasury of the company or due from the trustees, $206,683.89. Net amount of interest accrued, $6,210,086.11. O. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $228,731,110 31 Bonds, Stocks, etc., of Other Cos. . 2,222,122 30 Sinking Fund Assets 786,555 45 Depositaries of Renewal Fund 4,680,22907 Insurance Department 10,00000 Materials and Fuel on Hand 3,996,81806 Stocks and Bonds in Treasury 5,011,00000 Sundry Dues and Accounts..: 2,315,18378 Cash on Hand 15,550,56126 Total Assets $263,303,586 23 Capital Stock — Preferred $46,682,40000 Capital Stock — Common 58,183,900 00 Funded Debt 124,796,500 00 Sinking Funds 763,64637 Current Liabilities 4,547,972 18 Interest Accrued, not yet Payable. .. 2,853,520 00 Replacemen t Fund — Cars 113,350 00 Renewal an-1 Improvement Fund 4,680,22907 Income Account 20,682,06861 Total Liabilities $203,303,586 23 7. Capitalization per Mile. — The amount of capital stock per mile of road is $15,879.57. The amount of funded debt per mile of road is $18,897.54, on which the interest charge is $964.73 per mile. The total capitalization of the company amounts to $34,777.11 per mile of road. The capital investment, including cost of investments in the securities of other companies, amounts to $34,972.51 per mile of road. 8. Capital Stock. — On June 30, 1901, the share capital of the company amounted to $100,- 480,200, and consisted of $44,658,400 of preferred stock and $55,821,800 of common stock. During the succeeding fiscal year it was increased by $2,024,000 of preferred stock, issued in exchange for an equal amount of convertible bonds cancelled, and by $2,362,100 of common stock, sold to reim- burse the treasury for amount expended from earnings for construction of various lines, for real estate and for additions to the property. The total amount of capital stock on June 30, 1902, was $104,866,300. The preferred stock is entitled to 7 p. c. dividends, non-cumulative, after payment of interest on all bonds, the company having the privilege of reserving, as a working capital, not exceeding $250,000 over floating debt and accrued interest on the mortgage bonds. After payment of 7 p. c. on common stock both classes share pro rata in any further profits. A statement showing the dates and rates of all dividends paid by the company up to and including that of April 19, 1898, together with the amounts of capital stock on which such dividends were paid, is in the MANUAL for 1898, page 399. Later payments are recorded in the table of DIVIDENDS PAID BY RAILROAD COMPANIES — see GENERAL INDEX. 9. Funded Debt. — The funded debt on June 30, 1902 — total, $124,796,500, as per general balance sheet — consisted of the several issues of bonds, listed in the following statement. Addi- tional particulars respecting any issue will be found in the paragraph relating thereto appended to the statement ; and the details of funded debt outstanding on or about Aug. 1, 1903, will be found in the Ready Reference Bond List — see General Index : $11,000 H. & D. Div. 1st 7s of Jan. 1, 1903. 192,000 C. & M. Div. 1st 7s of Jan. 1, 1903. 53,000 Consol. 7s of Jan. 1, 1904. 2,606,000 Consol. 7s of July 1, 1905. 1,220,000 I. & D. Ext. 1st 7s of July 1, 1908. 4,000,000 P. W. Div. 1st 6s of July 1, 1909. 5.680,000 H. & D. Ex. 1st 7s of Jan. 1, 1910. 990,000 H. & D. Ex. 1st 5s of Jan. 1, 1910. 3,000,000 C. &. P. Div. 1st 6s of Jan. 1, 1910. 7,432,000 So. Min. Div. 1st 6s of Jan. 1, 1910. 2WO.OOO M. Pt. Div. 1st 5s of July 1, 1910. 4,748,000 Terminal 5s of July 1, 1914. 2,500,000 L. C. & D. Div. 1st 5s of July 1, 1919. 6,007,000 Dub. Div. 1st 6s of July 1, 1920. $2,179,000 Wis. Val. Div. 1st 6s of July 1, 1920. 25,340,000 C. « P. W. Div. 1st 5s of Jan. 1, 1921. 4,755,000 W. & M. Div. 1st 5s of July 1, 192L 1,360,000 C. & L. S. Div. 1st 5s of July 1, 1921. 3,083,000 C. ft M. R. Div. 1st 5s of July 1, 1926. 1,106,500 W. V. RR. 1st 7s of Jan. 1, 1909. 2,856,000 D. & Gt. S. Ry. 1st 5s of Jan. 1, 1916. 1,250.000 F. & S. Ry. 1st 6s of Jan. 1, 1924. 70,000 St. P. Div. matured Jan. 1, 1902. 2,000 I. & D. Div. matured July 1, 1899. 24,000,000 Gen. Mtge. 4s of May 1, 1989. 10,263,000 Gen. Mtge. 3Js of May 1, 1989. 2,155,000 M. & N. RR. 1st 6s of June 1, 1910. 5,092,000 M. & N. RR. Con. 6s of June 1, 1913. NOTE. — Included in the preceding statement are $3,922,000 of unsold gen. mtge. bonds which are held in the treasury or due from trustee, and $1,089,000 of unsold Milwaukee and Northern RR. consol. mtge. 6 p. c. bonds which are held in the treasury of the company. 364 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. Hastings and Dakota Division Bonds. — These bonds having been retired the mortgage securing them has been discharged. Chicago and Milwaukee Division Bonds. — Secured on the line from Chicago, 111., to Milwaukee, Wis., 82.20 miles. The bonds matured on Jan. 1, 1903, and all except $15,000 of them have been retired. Consolidated Mortgage Bonds. — Secured on the following lines (subject to the lien of the Chi- cago and Milwaukee Division 1st 7s of Jan. 1, 1903, secured on the line from Chicago to Milwaukee, 82.2 miles, and subject to the lien of the St. Paul Division 1st 7s of Jan. 1, 1902, secured on the line from La Crescent to St. Paul, 128.1 miles, only small amounts of which prior lien bonds remain outstanding) : Chicago, 111., via Milwaukee, Watertown, Portage and La Crosse, Wis., to St. Paul and Minneapolis, Minn., 417 miles; Milwaukee, Wis., via Prairie du Chien to Minneapolis, Minn., 415 miles ; Milwaukee to Portage City, Wis., via Horicon, 100.24 miles ; Horicon to Berlin, Wis., 42.30 miles ; Ripon to Oshkosh, Wis., 19.09 miles ; Rush Lake Junction to Winneconne, Wis., 14.89 miles ; Watertown to Madison, Wis., 36.48 miles ; Milton to Monroe, Wis., 42 miles ; Calmar to Algona, la., 126 miles ; Conover to Decorah, la., 10 miles ; Sabula to Marion, la., 87 miles ; Hast- ings to Glencoe, Minn., 74.20 miles ; Austin, Minn., to Mason City, la., 39.29 miles — total, 1,423.49 miles. The bonds of 1904 are prior in lien to those of 1905. Both issues are convertible into pre- ferred stock at par — the bonds of 1904 at any time within 15 days, those of 1905 at any time within 10 days, after any dividend is declared and becomes payable on that stock. Between June 30, 1902, and June 12, 1903, the amount outstanding was lessened to $1,894,000. Iowa and Dakota Extension Division Gold Bonds. — Secured on the lines from Algona to Cham- berlain, 273.90 miles, and from Marion Junction to Running Wattr, 62 miles, together with all franchises, lands, equipment, etc., appertaining to those lines. The bonds are convertible into pre- ferred stock of the company at par at any time within 10 days after dividends become payable on that stock. Between June 30, 1902, and June 12, 1903, the amount outstanding was lessened to $1,059,000. Southwestern Division Bonds. — Secured on the lines from Racine to Port Byron Junction, 190 miles, and from Eagle to Elkhorn, 17 miles. Hastings and Dakota Division Extension Bonds. — Secured on the lines from Glencoe to Roscoe, 278 miles ; Roscoe to Eureka, 26.85 miles ; Aberdeen to Edgerly, 64.15 miles ; and Milbank Junction to Sisseton, 33 miles — total, 402 miles ; together with all franchises, real and personal property, lands, equipment, etc., appertaining to those lines. Chicago and Pacific Division Bonds. — Secured by first mortgage on the line from Chicago to Kittredge, 116.60 miles, and on the Sabula bridge and approaches, 3.54 miles, and by second mort- gage on the line from Kittredge to Savanna, 21.50 miles. Southern Minnesota Division Bonds. — Secured on the lines from La Crescent to Sioux Falls, 346.50 miles ; Wells to Mankato, 38.08 miles ; Minneapolis to Benton Junction, 28.86 miles — total, 413.44 miles. Mineral Point Division Bonds. — Secured on the lines from Warren to Mineral Point, 33 miles ; Calamine to Plattville, 18 miles ; Monroe to Shulisburg, 34 miles ; Lone Rock to Richland Centre, 16 miles ; VIroqua to Sparta, 32 miles — total, 133 miles. Terminal Mortgage Gold Bonds. — Secured on the depot grounds in the cities of Chicago and Milwaukee. La Crosse and Davenport Division Bonds. — Secured on the line from Davenport to Jackson Junc- tion, 150.5 miles, and from Eldredge Junction to Maquoketa, 32.19 miles. Dubuque Division Bonds. — Secured on the following lines : La Crescent to Clinton, 178 miles ; Caledonia Junction to Preston, 57.77 miles ; Waukon Junction to Waukon, 22.95 miles ; Turkey River Junction to West Union, 58.34 miles ; Bellevue to Cascade, 35.77 miles ; a total of 352.83 miles ; also on all property, both real and personal, appertaining to the Dubuque Division. A sink- ing fund of 1 p. c. of the whole amount issued is annually provided for the purchase of these bonds at not over 103 ; or, if they cannot be bought at that price, the fund may be applied at option to the purchase of other 6 p. c. 1st mtge. bonds of the company at not under par. Wisconsin Valley Division Bonds. — Secured by first mortgage on the line from Merrill to Minocqua, 54.50 miles, and by second mortgage on the road from Toman to Merrill, 107 miles. Pro- visions of sinking fund, same as for Dubuque Division bonds (see preceding paragraph). Chicago and Pacific Western Division Gold Bonds. — Secured on the following lines : Cedar Rapids to Kansas City, 293.84 miles^ Marion to Council Bluffs, 261.70 miles ; Sioux City to Manilla, 90.17 miles ; Egan to Woonsocket, 82.76 miles ; Sioux City to Aberdeen, 262.60 miles ; Elk Point to Sioux Falls, 70 miles; Eden to Rock Valley, 9 miles ; and Farley to Cedar Rapids, 47 miles ; a total of 1,117.07 miles. Wisconsin and Minnesota Division Gold Bonds. — Secured on the following lines : Wabasha to Zumbrota, 60.21 miles; Hastings to Stillwater, 24.78 miles; Northfield to Red Wing, 31.98 miles; Wabasha to Chippewa Falls, 65 miles ; Red Cedar Junction to Cedar Falls, 21 miles ; Minneapolis to St. Paul and Short Line bridge, 10 miles ; a total of 212.97 miles ; also on Read's Landing bridge, and all property, both real and personal, appertaining to the lines mentioned. Chicago and Lake Superior Division Gold Bonds. — Secured on the lines from Janesvilla to Beloit, 13.86 miles ; Rockton to Rockford, 14.94 miles ; Madison to Portage, 39 miles ; also upon all property, real and personal, appertaining to those lines. Chicago and Missouri River Division Bonds. — Secured on the lines from Tripp to Armour, 20.45 miles ; Roscoe to Bowdle, 15.7 miles ; Roscoe to Orient, 41.29 miles — total, 77.44 miles ; also upon property, both real and personal, appertaining to these lines, and also upon the rolling stock. It is specified in the mortgage that additional bonds may be issued for two bridges across and beyond the Missouri River, and their approaches, but not to exceed $600,000 for each. Wisconsin Valley RR. Bonds. — Secured by first mortgage on the line from Toman to Merrill, 107.27 miles. Dakota and Great Southern Ry. Gold Bonds. — Secured by first mortgage on the lines from Madi- son to Bristol, 103.02 miles, and from Andover to Harlem, 55.91 miles, as also on all property, both real and personal, appertaining to those lines. Fargo and Southern Ry. Gold Bonds. — Secured on the line from Ortonville to Fargo, 116.97 miles, as also upon all property, real and personal, appertaining to that line. General Mortgage Gold Bonds. — Secured on the entire property owned by the company previous to its acquisition of the Milwaukee and Northern RR. (but subject to the prior liens of the twenty- five mortgages thereon), except the Milwaukee and Northern RR., and will be secured on any addi- tional property acquired by Issue of bonds covered by this mortgage. The total amount authorized is $150,000,000, of which a sufficient amount is reserved for the retirement of prior lien bonds, the POOR'S MANUAL CHICAGO, MILWAUKEE AND ST. PAUL RY. CO. 385 remainder being set aside to provide for extensions and branches, additional double track, real estate, etc. It is provided in the mortgage that all prior lien bonds acquired through purchase, exchange or otherwise shall be deposited with the trustee under this mortgage as additional security for the bonds issued thereunder, and whenever all of the outstanding bonds secured by any prior mortgage or deed of trust shall have been acquired, that class of bonds shall be cancelled. It is also provided that no additional bonds shall be issued under any of the prior mortgages or deeds of trust and that all prior bonds shall be paid and extinguished at maturity. Of the bonds issued up to June 30, 1901, there were in the treasury or due from the trustees, $224,000 of the 4 p. c. bonds and $3,570,000 of the 31 p. c. bonds. It is provided in the mortgage that the board of directors shall determine the rate of interest to be borne by each issue of the bonds, but that such rate shall not exceed 5 p. c. per annum. It has been decided that for the present the issue of 4 p. c. bonds, known as Series A, shall stop at No. 24,000. Milwaukee and Northern First Mortgage Bonds. — Secured on the line from North Milwaukee to Green Bay and the Appleton and Neenah Branches ; in all, 127 miles. Milwaukee and Northern Consolidated Mortgage Bonds. — Secured by first mortgage on the road north from Green Bay and by second mortgage on the road south of that point. The total amount of bonds authorized under this mortgage is $8,000,000, the unissued bonds being reserved to retire the 1st mtge. bonds and for other purposes. 1O. Statement showing amount of bonds of the several classes, including bonds in the treasury and due from trustees, at the close of each fiscal year from 1895 to 1902: 1896 1897 1898 1899 1900 1901 1902 1st Mtge., Consol. 7 p. c $ 11,485,000 2,097,000 444,000 3,505,000 3,796,500 3,674,000 89,000 2,393,000 4,000,000 2,500,000 1,124,000 5,680,000 3,000,000 7,432,000 2,840,000 6,479,000 2,270,000 25,340,000 4,755,000 1,360,000 1,106,500 4,748,000 1,250,000 1,444,000 990,000 3,083,000 2,856,000 22,173,000 * 11,483,000 162,000 421.000 3,505,000 3,736,500 2,238,000 89,000 2,391,000 4,000,000 2,500,000 766,000 5,680,000 3,000,000 7,432,000 2,840,000 6,309,000 2,249,000 25,340,000 4,755,000 1,360,000 1,106,500 4,748,000 1,250,000 1,368,000 990,000 3,083,000 2,856,000 24,857,000 S 10,510,000 33,000 285,000 3,339,000 3,040,000 26,000 89,000 2,145,000 4,000,000 2,500,000 5,000 5,680,000 3,000,000 7,432,000 2,840,000 6,225,000 2,227,000 25,340,000 4,755,000 1,360,000 1,106,500 4,748,000 1,250,000 1,303,000 990,000 3,083,000 2,856,000 24,000,000 5,174,000 2,155,000 5,092,000 $ 8,862,000 33,000 64,000 2,970,000 1,931,000 « 5,464,000 S 3,587,000 S 2,659,000 1st. Mtge. 7 p. c. (I. & M. Div.) l»tM.7p.c. (I. & Dak. Div.) 2,000 2,287,000 1,578,500 2,000 1,560,000 920,000 2,000 1,226,000 70,000 lstM.7p.c. (l.&Dak Ex.) 1st M 7 p c (St P Div ) 1st M 8 p c (P du C Div ) 1st M. 7 p. c. (Has. & Dak.) 80,000 1.714,000 4,000,000 2,500,000 3,000 5,680,000 3,000,000 7,432,000 2,840,000 6,142,000 2,205,000 25,340,000 4,755,000 1,360,000 1,106,500 4,748,000 1,250,000 352,000 990,000 3,083,000 2,856,000 24,000,000 9,683,000 2,155,000 5,092,000 78,000 1,290,000 4,000,000 2,500,000 29,000 398,000 4,000,000 2,500,000 11,000 192,000 4,000,000 2,500,000 IstM 7p c (Ch. &MiL) IstM. 6p. c. (So. Wn. Div.) 1st M. 5 p. c. (LaC. & D. Div.) 2dM.7.3p.c. (P.duC.Div.) lstM.7p.c. (H.&D. Div. Ex.). .. . 1st M. 6 p. c. (Ch A PC Div.) 5,680,000 3,000,000 7,432,000 2,840,000 6,058,000 •2,184,000 25,340,000 4,755,000 1,360,000 1,106,500 4,748,000 1,250,000 40,000 990,000 3,083,000 2,856,000 24,000,000 9,978,000 2,155,000 5,092,000 5,680,666 3,000,000 7.432,000 2,840,000 6,007,000 2,179,000 25,340,000 4.755,000 1,360,000 1,106,500 4,748,000 1,250,000 2,000 990,000 3,083,000 2,856,000 24,000,000 10,070,000 2,155,000 5,092,000 5,680,000 3,000,000 7,432,000 2,840,000 6,007,000 2,179,000 25,340,000 4,755,000 1,360,000 1,106,500 4,748,000 1,250,000 1st M. 6 p. c. (S. Min. Div.) 1st M. 5 p. c. (Minr. Pt. Div.) IstM 6p c (Dubuq Div) 1st M. 6 p. c. ( Wis. Vy. Div.) 1st M. 5 p. c. (Ch. & PC. W. Div.). . . . 1st M. 5 p. c. (W. & Min. Div.) 1st M. 5 p. c. (Ch. & L. S. Div.) Wis. Vy. RR 7 p c. Bonds Terminal 5 p. c. Bonds .... 1st M. 6 p. c. F. & S. R. Bonds Inc. S. Fund 5 p. c. Con. Bonds 1st M. 5 p. c. (H. & D. Div. Ex.). . . . 1st M. 5 p. c. (Ch. & M. R. Div.) Dak. & Gt. So. Ry. 5 p. c. Bonds .... Gen. Mtge. 4 p. c. Bonds 990,000 3,083,000 2,856,000 24.000,000 10,263,000 2,155,000 5,092,000 Gen. Mtge. 3 j p. c. Bonds 1st M. Mil. & No. 6 p. c. Bonds ConsoL M. 6s. M. & No. RR 2,155,000 5,092,000 2,155,000 5,092,000 Totali 139,161,000 137,762,000 136,588,500 136,226,500 131,147,000 126,941,500 124,796,500 11. Renewal and Improvement Fund. — Created during the year ending June 30, 1896, to provide for the cost of track elevation in Chicago and for other extraordinary expenses. Charged to operating expenses, for account of this fund, to June 30, 1902, $8,810,000 ; interest received on balances, $306,014.09 — total, $9,116,014.09. Expenditures for elevation of tracks in Chicago. $826,390.61 ; for third and fourth main tracks, $145,224.45 ; for reducing grade and improving line, $2,144,632.25; for Escanaba docks and terminal facilities, $618,553.84; for change of line, Redfleld, S. D., $24,729.48; for change of gauge, $200,018.44; for Menominee Valley connecting track, $17,778.28 ; for replacement of bridges, $458,457.67 — total, $4,435,785.02. Balance unex- pended, June 30, 1902, $4,680,229.07. 12. Capital Expenditures. — The expenditures for additions and improvements to property, etc., charged to capital accounts, during the year ending June 30, 1902, were as follows : New loco- motives and cars, $2,581,840.67 ; construction of new lines, $2,606,242.90 ; construction of second main track, $507,321.07 ; real estate, $463,875.01 ; improvement Davenport, Rock Island and Northwestern Ry., $63,300.30 ; purchase of Kansas City Belt Ry. Co. stock, $70,000 ; purchase of Chicago and Pacific RR. Co. stock, $40 — total, $6,292,619.95. Credits : Premium on common stock sold, $1,532,335.68; premium on gen. mtge. bonds sold, $6,500; sundry credits — real estate sold, cost of tracks taken up, buildings taken down, destroyed, etc., $259,881.60 — total, $1,798,717.28. Net expenditure, $4,493,902.67. 13. Receipt* from Stock* and Bonds Owned. — The total amount received for the year ending June 30, 1902, as dividends on stocks owned was $34,750, and the total amount re* ceived as interest on bonds owned, $14,195. 366 POOR S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. 13a. LEDGER VALUE OF STOCKS AND BONDS OWNED BY THE COMPANY JUNE 30, 1902. RAILWAY STOCKS. $100,000 Des Moines Union Ry. Co... 100,000 Kansas City Belt Ry. Co... 7,000 Minnesota Transfer Ry. Co. 15,000 Minneapolis Eastern Ry. Co. 80,000 Chicago Union Tran. Ry. Co. $1,000 00 100,000 00 7,000 00 15,000 no 40,000 00 2,350,000 Other Stocks 1,813,30030 Total $1,976,300 30 OTHER STOCKS. $100,000 Braceville Coal Co $100,000 00 43,750 St. Paul Union Depot Co.... 43,75000 38,800 Merrill Boom Co 25,82200 RAILWAY BONDS. $75,000 Minneapolis Eastern Ry. Co.. $60,000 00 3,922,000 C., M. & St. P. Ry. Co 3,922,000 00 1,089,000 Milw. & No. RR. Co 1,089,00000 Total $5,071,000 00 OTHER BONDS. $6,000 City of Ottumwa $6,00000 8,500 Town of Ortonville, Minn.... 2,500 00 5,000 Town of Graceville, Minn.... 2,500 00 1,000 Town of Tarah, Minn 26000 6,000 Fox Riv. El. Ry. & Power Co. 5,000 00 Total $16,25000 Total Total Stocks $2,145,872 30 Bonds 5,087,250 00 Total $169,57200 14. RAILROAD PURCHASED BY THE C., M WISCONSIN WESTERN RR — La Farge to Wauzeka, Wis., 51.68 m. ; total track (steel; 56 to 72 Ibs.), 55.55 miles. Gauge, 4 ft. 8J in. Chartered Nov. 21, 1899, and on Nov. 24, 1899, purchased at foreclosure sale the property of the Kickapoo Valley and Northern Ry. Co., taking possession thereof on Nov. 27, 1899. (See Man- ual for 1899, page 380.) Early in 1903 this road was purchased by the Chicago, Milwaukee and St. Paul Ry. Co. Locomotives, 3. Cars — passen- ger, 3 ; baggage, etc., 1 ; freight ( box, 2 ; flat, 29), 31; caboose, 2; road, 2 — total, 39. Grand Total $7,233,122 30 & ST. P. RY. Co. AFTEB JUNE 30, 1902. OPERATIONS, year ending June 30, 1902. — Gross earnings (passenger, $14,545; freight, $43,- 533; other, $106), $58,184; other income, $47— total, $58,231. Operating expenses, $45,833 ; other de- ductions, $4,185 — total, $50,018. Surplus, $8,213. FINANCIAL STATEMENT, June 30, 1902. — Capital stock paid in ($600,000 auth. ; $100 shares), $521,400; current liabilities, $87,500; profit and loss, $2,341 — total, $611,241. Contra : Cost of road, $576,599 ; equipment, $21,306 ; ma- terials, etc., $8,762 ; cash assets, $4,574 — total, $611,241. 15. Board of Directors, C., M, d St. P. Ry. Co., elected September 27, 1902. ROSWELL MILLEB, Chairman of the Board New York, N. Y. J. Ogden Armour. .Chicago, 111. C.W.Harkness. . .New York.N.Y. A. J. Earling Chicago, 111. A. Belmont New York, N. Y. Fred. Layton.. Milwaukee, Wi.s. W. Rockefeller.. .New York.N.Y. F. S. Bond... New London, Ct. Jos. Milbank..New York, N. Y. H. H. Rogers... Peter Geddes. .New York, N.Y. Roswell Miller " J. H. Smith.... Samuel Spencer New York, N. Y. A. J. EARLING, President Chicago, 111. J. H. Hiland, 3d Vice-President " " Treasurer — F. G. Ranney Chicago, 111. I Asst. Sec'y — J. M. McKinlay..New York, N. Y. Asst. Sec. — E. W. Adams Milwaukee, Wls. | General Auditor — W. N. D. Winne.. Chicago, 111. PRINCIPAL OFFICE AND ADDRESS Chicago, 111. Financial Office No. 30 Broad Street, New York, N. Y. CHICAGO, PEOBJA AND ST. LOUIS EY. CO. OF ILLINOIS. 1. Mileage Operated, Dec. 31, 1902.— A. OWNED (total, 232.55 miles). Main Line: Pekin to Granite City, 111 179.20 m. Madison Section : Madison to Bridge Junction, 111 3.07 m.— 182.27 miles Jacksonville Branch: Havana to Jacksonville, 111 41.88 Qrafton Branch: Lock Haven to Grafton, 111 8.40 B. PROPRIETARY LINES (total, 54.37). Lit ch ft eld and Madison Ry. : Litchfield to Madison, 111 43.97 Alton Terminal Ry.: At Alton, 111 1.00 Peoria and Pekin Union Ry. : Peoria to Pekin, 111 9.40 O. TRACKAGE RIGHTS (total, 12.89). Illinois Central RR.: At Springfield, 111 ) i go « Baltimore rf Ohio Southwestern RR. : At Springfield, 111 J St. L. Merch. Bridge Term. Ry. : Granite City to Merchants' Jc. Madison, 111.. 2.99 " St. L. M. B. T. Ry. : Madison, 111., to St. Louis Union Station 7.40 " Jacksonv. d 8t. Louis Ry..* Junction to Litchfield, 111 1.00 " Total length of lines operated, Dec. 31, 1902 299.81 miles. Sidings, etc. (owned, 69.6 m. ; proprietary, 7.6 m.), 77.2 miles. Gauge, 4 ft. 8% in. Rail (steel), 56, 60, 70, and 85 Ibs. POOR'S MANUAL CHICAGO, PEORIA AND ST. LOUIS RY. CO. OF ILLINOIS. 367 2. History. — Reorganization and consolidation, Jan. 2, 1900, of the Chicago, Peoria and St. Louis RR. Co. of Illinois and the St. Louis, Chicago and St. Paul Ry. Co. of Illinois. (See MANUAL for 1899, pages 292 and 293.) The company began to operate the consoli- dated property on March 1, 1900. It owns the entire capital stock of the Litchfield and Madison Ry. Co. and of the Alton Terminal Ry. Co., and 25 per cent, of the capital stock of the Peoria and Pekin Union Ry. Co. The tracks of the St. Louis Merchants' Bridge Terminal Ry., from Madison, 111., to the Union Station in St. Louis, Mo., 7.4 miles, are used by this company for passenger service only. 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 45. Cars — passenger, 21 ; combina tion, 11; baggage, mail, and express, 2; freight (box, 2,483; flat, 17; coal, 1,747), 4,247; service, 78 — total, 4,359. Of this equipment, 1,638 box cars and 100 coal cars are held .under car trust, and 649 coal cars are owned by the L. & M. Ry. Co. 4. Operations, year ending Dec. 31, 1902. — Train mileage — passenger, 450,417; freight, 720,349 ; other, 430,436 — total, 1,601,202 miles. Passengers carried, 594,885; car- ried one mile, 15,239,684; average mile rate, 1.805 cents. Tons freight moved, 2,267,756; moved one mile, 211,543,697; average ton-mile rate, 0.509 cent. EARNINGS. 1901 1902 Passenger $254,987 40 $281,810 63 Freight 1,041.139 63 1,239,677 33 Mail and Express 37,794 01 38,673 34 Miscellaneous 36,178 94 25,970 50 EXPENSES. Maint. Way and Struct.. Maint. of Equipment.... Conducting Transporta'n. General Expenses 1901 $214,407 40 208,859 57 648,340 82 52,189 74 1902 $195,001 13 270,505 69 745,154 44 62,050 83 Totals $1,370,09998 $1,586,13180 Totals $1,123,79753 $1,272,71209 Averages per mile... 4,56989 5,29046 Averages per mile.... 3,74837 4,24508 Net earnings, 1902 (19.76 p. c.), $313,419.71; other receipts, $21,559.64 — total, $334,- 979.35. Payments : Interest on funded debt (on prior lien bonds, $63,823.75 ; consol. mtge. bonds, $96,750), $160,573.75; taxes, $56,379.53; rental (L. & M. Ry.), $31,776.05— total, $248,729.33. Surplus, $86,250.02; surplus to Dec. 31, 1901, $37,422.85— total, $123,672.87. Net deductions for year (betterments to railway, $25,925.07; to equipment, $26,585.32 — total, $52,510.39; less unclaimed wages, $345.79), $52,164.60. Surplus Dec. 31, 1902, $71,508.27. 5. General Balance Sheet, December 31, 1902. Cost of Road $10,389,94839 East St. Louis Terminals 89,288 43 Cost of Equipment 1,442,138 31 Stocks and Bonds of Other Co.'s 871,650 00 C., P. & St. L. Securities in Treasury. 217,085 00 Materials and Supplies 169,523 44 Current Assets 394,20520 Cash on Hand 253,460 11 Unearned Insurance Premiums 4,54742 Other Balances 1,400 00 Total Assets $13,833,24630 Common Stock ( $100 shares) $3,600,000 00 Preferred Stock ($100 shares) 3,750,00000 Funded Debt Outstanding 5,425,00000 Equipment Notes 490,506 84 Equipment Replacement Fund 19,85848 Current Liabilities 396,18624 Interest Accrued, not Payable 21,37500 Taxes Accrued 58,81147 Profit and Loss 71,508 27 Total Liabilities $13,833,246 30 6. Capital Stock. — The preferred stock has priority over the common stock for dividends at the rate of 5 p. c. per annum, non-cumulative (see Section 9). 7. Funded Debt. — The funded debt outstanding on Dec. 31, 1902 — total, $5,425,000, as per general balance sheet — consisted of $1,425,000 ($2,000,000 auth.) prior lien gold 4Js of March 1, 1930 ; $2,000,000 consol. gold 5s of July 1, 1930, and $2,000,000 income non-cumulative 5s of July 1, 1930. The $575,000 unissued prior lien, bonds are reserved for improvements. Of the consols $71,185, and of the income bonds $90,000 were held in the treasury of the company, leaving 1,928,- 815 consols and $1,910,000 income bonds actually outstanding. The company reserves the right to redeem at its option the prior lien bonds at 107*, the consol. mtge. bonds at 105, and the income bonds at par. The prior lien bonds are secured by first mortgage, the consols by second mortgage, And the income bonds by third mortgage on the company's property (see Section 9). 8. RAILROAD CONTROLLED BY THE C., P. & ST. L. RY. Co. OF ILLINOIS. FINANCIAL STATEMENT.— Capital stock ($500,000 common and $500,000 non-cumulative 4 p. c. preferred; $100 shares), $1,000,000. The $500,000 Income bonds have been retired and the preferred stock has been issued in place thereof. The company is about to issue $750,000 1st mtge. 5 p. c. 30-yr. gold bonds. CORPORATE OFFICERS. — Chas. E. Kimball, Pres., New York, N. Y. ; Ralph Blaisdell, Sec. LITCHFIELD AND MADISON RY Litchfleld to Madison, 111., 43.97 m. ; total track (steel; 60 Ibs.), 51.57 miles. The company has 649 coal cars. HISTORY. — Chartered March 1, 1900, to take title to a portion of the Chicago, Peoria and St. Louis RR. of Illinois. (See Manual for 1899, page 293.) The road is operated by the C., P. & St. L. Ry. Co. of Illinois, and that company owns all of the common capital stock and $72,000 ef the preferred capital stock. & Treas., Springfield, 111. Office, Springfield, 111. 368 POOR'S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. 9. Proposed Reorganization of Finance*. — It is proposed to exchange the income bonds dollar for dollar, for new 1st preferred stock, the present stock to become 2d preferred. The holders of a majority of the income bonds have agreed to this proposition, and with the holders of a majority of the capital stock have deposited their securities with a committee for the purpose of selling the same on or before Aug. 1, 1904. It is provided that the purchase price shall not be less than 50 p. c. of the par value of the income bonds or new 1st preferred stock, 20 p. c. of the par value of existing preferred stock or new 2d preferred stock, and 15 p. c. of the par value of common stock. The security holders of the Litchfleld and Madison Ry. Co. have withdrawn from the agree- ment to sell. 1O. Board of Directors, C., P. & St. L. Ry. Co. of Illinois, December 8, 1902. James Duncan Alton, 111. I Ralph Blaisdell..Springfleld,Ill. I Eleneious Smith.. . St.Louis.Mo. Bluford Wilson.. Springfield, 111. | Curtiss Millard... | Chas.E.Kimball.New York, N.Y. Chas. F. Dean New York, N. Y. CHARLES E. KIMBALL, President 52-54 William St., New York, N. Y. Sec., Treas. & Aud. — Ralph Blah-dell, I Asst. Sec. d Asst. Treas. — T. C. Wellman, Springfield, 111. | New York, N. Y. PRINCIPAL OFFICE AND ADDRESS Springfield, 111. CHICAGO TERMINAL TRANSFER RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Contingent Liabilities 11 Directors and Officers 13 Earnings, Expenses, etc 7 Funded Debt, Details of 10 Gen. Bal. Sheet, June 30, 1902. 8 History 2 Mileage Operated 1 Preferred Stock Preference.. 9 Property, Description of 8 Rolling Stock 6 Stocks and Bonds Owned... 12 Tenants 5 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 90.56 miles). Main Line: Harrison Street to Madison Street, Chicago, 111 10.86 miles. Chicago & Southwestern Div.: West 46th Street to South Oak Park 5.36 Chic., Ear. & Batavia Div. : West 40th Street to Conway Park and Cemetery. 6.76 Chicago Central Division: Western Avenue to Blue Island 15.19 " Harvey Line: Harvey Junction to Harvey 3.88 Chicago Heights Line : Harvey to Chicago Heights, 111 9.24 Belt Line : Clarke Junction, Ind., to McCpok, 111 28.43 South Chicago Line : East Chicago to Whiting, Ind Mayfair Extension : Franklin Park to Mayf air 6.95 B. TRACKAGE RIGHTS (total, 17.28 miles). Chicago Junction Ry. : McCook to Franklin Park, 111 10.54 " Chicago Junction Ry. : C., L. S. & E. Ry. to L. S. & M. S. Ry 0.13 Baltimore and Ohio RR.: East Chicago Harbor to South Chicago, 111 6.61 Total length of lines operated, June 30, 1902 107.84 miles. 2d track (owned, 39.02 m.; leased, 15.27 m.), 54.29 m. ; sidings, etc. (owned, 97.99 m. ; leased, 13.01 m.), Ill miles. Gauge, 4 ft. 8y2 in. Bail (steel), 80 Ibs. 2. History.— Reorganization, June 4, 1897, of the Chicago and Northern Pacific RR. Co. (see MANUAL for 1897, pages 83 and 1288). 3. Property. — The property of the company is located in and adjacent to the city of Chicago, and consists of passenger and freight terminals, lines of railway leading thereto, and a belt line immediately outside of, and practically encircling, the city. There are more than 760 acres of land, of which over 50 acres are in the centre of the business section of the city, with about \y2 miles of dock frontage on the Chicago River. All the real estate, and nearly all of. the property upon which the lines of railway have been built, are owned in fee. 4c. Character of Business. — The business of the company is twofold. As a terminal company, it leases its freight and passenger facilities and its lands, tracks, and buildings for separate and joint occupancy, or for independent improvement if desired, the tenant paying (1) a fixed annual rental; (2) all taxes and maintenance of property used by it exclusively; (3) its wheelage proportion of all expenses for the maintenance of property used jointly; (4) its proportion of taxes on all property used jointly, and (5) its wheelage proportion of interest on the cost of all construction or alteration in the pres- ent facilities necessitated by legislative or municipal action. As a transfer company it employs its own motive power in conducting a regular transportation business and in POOR S MANUAL— CHICAGO TERMINAL TRANSFER RR. CO. 369 transferring and switching freight cars between railway systems and manufacturing and business districts. 5. Tenants. — The principal railroad tenants now leasing terminal facilities and track- age are the Baltimore and Ohio RR. Co., the Chicago Great Western Ry. Co., the Chicago Junction Ry. Co., and the Suburban RR. Co. (Chicago Consolidated Traction Co.) Pending completion of station now being constructed, the Chicago, Rock Island and Pacific Ry. Co., the Lake Shore and Michigan Southern Ry. Co., and the New York, Chicago and St. Louis RR. Co. have used the Grand Central Passenger Station since Dec. 31, 1901. 6. Boiling Stock, June 30, 1902. — Locomotives, 42. Cars— passenger, 45; freight (box, 20; gondola, 358), 378; caboose, 4; other, 2 — total cars, 429. 7. Operations, year ending June 30, 1902. — Earnings — passenger, $68,069.09; freight and switching, $848,022.22; rentals, $616,281.95; other, $106,743.11 — total, $1,639,116.37; operating expenses, $894,633.17; taxes, $111,500; total $1,006,133.17. Net earnings, $632,983.20. Payments : Interest on 1st mtge bonds, $545,400 ; on C. & G. W. bonds, $19,700; on Chicago School Board mtge., $32,500 — total, $597,600. Surplus to profit and loss, $35,383.20. 8. General Balance Sheet, June 30, 1902. Property and Franchises $45,160,59132 Cash in Banks 323,42407 Accounts Receivable (Current) 153,35855 Agents and Conductors 120,28062 Treasury Securities 230,55100 Materials on Hand 138,46132 Guaranty Trust Co., Rental Fund 133,413 75 Accounts Receivable (Disputed) 150,32897 Total Assets .- $46,410,409 60 Common Stock ($100 shares) $13,000,00000 Preferred Stock ($100 shares) 17,000,00000 Funded Debt Outstand. (see Sec. 10) 14,944,000 00 Current Liabilities 772,54801 Contingent Liabilities 213,05492 Prepaid Rentals, St. L., P. & N. RR. 133,413 75 Profit and Loss 347,39292 Total Liabilities $46,410,409 60 O. Preferred Stock Preference. — Preferred stock has priority over common stock in liquidation as well as for non -cumulative dividends at the rate of 4 p. c. per annum, and after 4 p. c. per annum has been paid on the common stock in any one year, is entitled to share pro rata in any additional distribution of earnings for that year. 10. Funded Debt — The funded debt outstanding, June 30, 1902, consisted of $13,900,000 1st gold 4s of July 1, 1947 ; $394,000 C. & G. W. 1st 5s of May 1, 1936 ; and $650,000 Chicago School Board purchase money 5s of May 1, 1938. The 1st 4s of 1947 are secured on the entire property of the company, now owned or hereafter acquired by the use of bonds issued under the same mortgage, but subject to the prior lien of the 1st 5s of 1936 on the property formerly owned by the Chicago and Great Western RR. Co. (see MANUAL for 1890, page 594) and subject to the prior lien of the purchase money mortgage to the Chicago School Board on the land on which the Grand Central Passenger Station is erected. The amount of bonds authorized to be issued is $16,500,000, bonds amounting to $1,305,000 being reserved for the retirement of the prior liens and $1,205,000 for future requirements. Additional particulars respecting the funded debt will be found in the Ready Reference Bond List — see General Index. It is provided that no additional mortgage shall be executed upon the property, except with the consent of the holders of two-thirds of the whole amount of preferred stock, given in writing or at a meeting of the stockholders called for that purpose, and with the consent, given in writing, of two-thirds of the common stock or given at a meeting by two-thirds of such part of the common stock as shall be represented at such meeting. 11. Contingent Liabilities. — This item consists of the following : Reserve to provide against contingent liabilities, and for possible depreciation in collectible accounts assumed on pur- chase of estate, $54,115.69 ; renewal fund, reserved to provide for renewal of bridges, $26,116.69 ; contingent reserve fund, a contingent fund appropriated out of profits, to provide against any pos- sible depreciation in collectible or disputed accounts, $132,822.83 — total, $213,054.92. 12. Stocks and Bonds Owned. — These consist of the company's 1st mtge. bonds, $265,000, and common stock, $10,800 — a total, par value, of $275,800 ; book valuation, $230,551. The value at market quotations on June 30, 1902, was $234,143. Capitalization, cost of property and results from operation for five fiscal years end- ing June 30: Years. 1898. . . . Capital Sfock. 30000000 Bonded Debt. $ 14,367,000 Cost of Property. 43,962,232 Mileage Operated. 91.65 Gross Earnings. 1 119261 Expenses A Taxes. $ 455,505 Net Earnings. 663,756 Interest Paid. 1 562,156 Balance, Surplus. S 101,600 1899 30000000 14 334000 44.053,935 93.54 1 221.107 541.94C) 679,161 572,200 106.961 1900 30000000 14,629,000 44,482 586 10279 1 265,961 589,734 676,227 .r)S4,200 92,027 1901 1902.... . . 30,000,000 30.000.000 14,629,000 14.944.000 44,873,414 45.100.591 107.84 107.84 1,430,990 1.639.116 827.668 1.000.133 603,322 G32.983 591,900 597.600 11.422 35.383 13. Directors (elected Oct. 8, 1902). — Chas. T. Parker, Henry R. Ickleheimer, Henry W. De Forest, Otto T. Bannard, Charles W. Gould, Myles Tierney, F. G. Reighley, New 370 POOR'S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. York, N. Y. ; Jesse B. Barton, John N. Faithorn, Henry 8. Hawley, Ralph M. Shaw, Silas H. Strawn, Henry A. Rust, Joseph Cooper, E. S. Layman, Chicago, 111. HENRY W. DE FOREST, Chairman of Board New York, N. Y. JOHN N. FAITHOKN, President and General Manager Chicago, 111. Treat. A Astt. Sec.— H. H. Hall. ..Chicago, 111. \8ec. A Aast. Treos.— W. T. Wisner.New York.N.Y. Comptroller — Samuol L. Prest Chicago, 111. PRINCIPAL OFFICE AND ADDRESS Chicago, 111. Eastern Office 30 Broad Street, New York, N. Y. CINCINNATI, HAMILTON AND DAYTON KAILWAY COMPANY. (For map of this system, see page 871 J INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS or SECTIONS. Capital Stock 6 Controlled Line Statements. 11 Directors and Officers 13 Earnings, Expenses, etc .... 4 Funded Debt, Details 7 Gen. Bal. Sheet, June 30, 1902. 5 Guaranties 8 History 2 Income Acct., June 30, 1902.. 4 Income Account, 1896-1902... 9 Leased Line Statements .... 10 Mileage Operated 1 Operations and Inc., 1896-1902 9 Rolling Stock 3 1. Mileage Operated, June 30, 1902. — A. LINES OWNED IN FEE (total, 333.7 m.). Main Line: Cincinnati, O., to Dayton, O 59.93 miles. Wellston Division: Dayton, O., to Dean's, 0 175.50 Dclphos Division : Dayton, O., to Delphos, 0 98.27 " B. LEASED LINES (total, 145.6 miles). Dayton and Michigan RR.: Dayton to Toledo, 0 142.10 " Home Avenue RR. : Dayton to Soldiers' Home, O 3.50 " O. PROPRIETARY LINES (total, 159.8 miles.). Cincinnati, Hamilton and Indianapolis RR. : Hamilton, O., to Indianapolis, Ind 98.90 Columbus, Findlay and Northern RR.: Deshler to Findlay, O 17.60 Bowling Green RR. : Tontogany to Nortk Baltimore, 0 21.00 Piqua and Troy Branch RR. : Pioua to Troy, O 8.30 Cincinnati and Dayton Ry.: Middletown to Hamilton, 0 14.00 " D. TRACKAGE RIGHTS: Iron RR.: Dean's to Ironton, 0 12.50 " Total length of lines operated, June 30, 1902 651.60 mileg. 2d track (owned, 29.09 m.; leased, 1.64 m.), 30.73 m.; sidings (owned, 110.38 m.; leased, 76.62 m. ; proprietary, 42.82 m.), 229.82 miles. Gauge, 4 ft. %% in. Rail (steel), 60 and 70 Ibs. 2. History. — Consolidation, July 8, 1895, of the Cincinnati, Hamilton and Dayton RR. Co., the Cincinnati, Dayton and Ironton RR. Co. and the Cincinnati, Dayton and Chi- cago RR. Co. (see MANUAL for 1896, page 487) . Under an arrangement with the security holders of the Findlay, Ft. Wayne and West- ern Ry. Co. the operation of that railroad was assumed by the Cincinnati, Hamilton and Dayton Ry. Co. on Nov. 1, 1901, and it has since been operated as a division of the C., H. 4 D. System. Its accounts, however, have been kept separate and are not included in this statement. 3. Boiling Stock, June 30, 1902 (entire system ) .—Locomotives, 174. Cars— pas- senger, 99; combination, 16; parlor, 11; dining, 1; officers', 1; baggage, mail, and ex- press, 33; freight (box, 3,904; flat, 724; stock, 169; coal, 3,955), 8,752; service, 116— total cars, 9,029. 4. General Income Account (entire system), year ending June 30, 1902. Earaingt— Passenger $1,632,415 22 Freight 4,336,918 15 Mail and Express 275,880 61 Miscellaneous 106,950 06 Total ($9,748.56 per mile) 16,8(2,164 S4 Expenses— Maintenance of Way, etc. . . $671,638 00 Maintenance of Equipment. 706,180 36 Transportation 2,698,320 82 General 167,785 25 Total ($«,367.93 per mile) $4,142,824 43 371 372 POOR'S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. Net earnings (34.79 p. c.), $2,209,339.91. Payments: Interest on bonds (C., H. & D. Ry., $624,210; D. & M. RR., $136,400; C., H. & I. RR., $126,000), $886,610; dividends on preferred stock (C., H. & D. Ry., $389,225; D. & M. RR., $96,900), $486,125; dividends on common stock (D. & M. RR., $84,066.50; Home Avenue RR., $3,268.15), $87,334.65; taxes, $191,231.56— total, $1,651,301.21. Surplus, $558,038.70. 5. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $21,605,930 ?2 Leased and Proprietary Lines 3,774,201 18 Stocks and Bonds Owned 4,724,013 62 Materials and Supplies 348,765 04 Current Traffic Accounts 535,970 18 Cash and Cash Assets 1,441,018 85 Capital Stock ($100 shares) $16,000,000 00 Funded Debt (see below) 12,295,000 00 Accounts and Bills Payable 333,060 46 Vouchers and Pay Rolls 775,881 77 Accrued Int. and Quar. Dividends. . . . 323,073 12 Interest and Dividends Not Called for. 25,486 54 Surplus Income 2,677,397 60 Total Assets $32,429,899 49 Total Liabilities $32,429,899 49 6. Capital Stock. — Capital stock consists of $8,000,000 common stock and $8,000,000 pre- ferred stock. Of the preferred stock $6,925,500 ($8,000,000 auth.) is in 5 p. c. non-cumulative shares of the C., H. & D. Ry. Co., and $1,074,500 is in 4 p. c. cumulative guaranteed shares of the old C., H. & D. RR. Co. 7. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of the following issues (additional particulars are in the Ready Reference Bond List — see General Index) : $376,000 C.,H.&D.con.5s of Oct. 1, 1905, int. A.&O. $3,000,000 C.,H.&D.gen.5s of June 1, 1942, int. J.&D. 3,500,000 C..D.&I. 1st Bs of May 1, 1941, int. M.&N. 1,200,000 C..D.&C. 1st 4s of April 1, 1942, int.A.&O. 1,292,000 C.,H.&D.con.6s of Oct. 1, 1905, int. A.&O. 927,000 C.,H.&D.con.7s of Oct. 1, 1905, int. A.&O. 2,000,000 C..H.&D. 2d 4Js of Jan. 1, 1937, int. J.&J. 8. Guaranties. — The company guarantees, both as to principal and interest, $4,500,000 re- funding 4s of the Cincinnati, Indianapolis and Western RR. Co., due Jan. 1, 1953, and $2,728,000 consol. 5s of the Dayton and Michigan RR. Co., due Jan. 1, 1911 ; also $1,211,250 8 p. c. preferred stock and $2,401,900 3J p. c. common stock of the Dayton and Michigan RR. Co. 9. Statement of operations, etc., all lines, for seven fiscal years ending June 30 : 1896 1897 1898 1899 1900 1901 1902 Miles RR. Operated. . Pass. Train Miles Freight Train Miles. . . Total Rev. Train Miles Passengers Carried. . . Pass. Carried One Mile Tons Freight Moved . . Tons Moved One Mile . Earnings — Passenger . Freight 651.60 2,098,742 2,021,258 651.60 2,118,086 1,702,749 651.60 2,033,908 1,843,984 651.60 1,950,839 1,925,676 651.60 1,963,685 2,106,341 651.60 2,023,560 1,974,144 651.60 2,028,671 2,120,566 4,120,000 3,546,445 82,076,851 4,231,060 504,346,957 $ 1,500,508 3,247,900 228,343 170,811 3,820,835 2,881,475 69,322,435 4,136,385 434,358,141 $ 1,253,304 2,783,742 249,291 341,015 3,877,892 2,696,193 70,930,107 4,647,054 511,991,444 $ 1,269,035 3,164,715 254,294 220,519 3,876,515 2,832,416 79,639,827 5,140,505 562,280,442 S 1,405,287 3,473,061 257,037 106,118 4,070,026 2,964,898 83,026,528 5,888,242 641,595,066 $ 1,483,281 3,905,266 270,210 76,773 3,997,704 3,052,439 84,979,272 5,721,155 622,250,342 $ 1,552,603 3,909,843 270,438 105,032 4,149,237 3,163,892 92,654,107 6,277,202 679,083,230 $ 1,632,415 4,336,918 275,881 106,950 Mail and Express.. . Miscellaneous Total Earnings . . Operating Expenses. . Net Earnings Payments — Taxes. . . . Interest on Bonds . . Dividends on Stocks Balance, Surplus Gross Earn, per Mile. . Gross Exp. per Mile. . . Net Earn, per Mile . . . Expenses to Earnings. Av.Rate p.Pass.p.Mile Av.Rate p.Ton p. Mile. Capital Stock 5,147,562 3,378,851 4,627,352 3,048,524 4,908,563 3,249,065 5,241,503 3,477,297 5,735,530 3,821,232 5,837,916 3,844,946 6,352,164 4,142,824 1,768,711 160,994 846,907 562,515 198,295 7,899 88 5,185 47 2,714 41 65.64 p. c. 1.83 c. 0.64 c. $ 16,000,000 11,225,000 1.798,176 1,178,660 1,578,828 180,158 846,970 564,040 Dei. 12,340 7,101 52 4,678 52 2,423 00 65.88 p. c. 1.81 C. 0.64 c. 9 16,000,000 12,425,000 1,763,771 1,257,094 1,659,498 172,283 846,970 567,318 72,927 7,533 09 4,986 29 2,546 80 66.19 p. c. 1.76 c. 0.62 c. $ 16,000,000 12,425,000 1,863,800 1,362,649 1,764,206 182,109 846,970 564,767 170,360 8,044 05 5,336 55 2,707 50 66.34 p. c. 1.74 c. 0.62 c. $ 16,000,000 12,425,000 1.778,148 1,535,235 1,914,298 185,450 846,970 571,325 310,553 8,802 23 5,864 38 2,937 85 66.62 p. c. 1.76 c. 0.61 c. $ 16,000,000 12,425,000 1,636,942 1,783,377 1,992,970 186,968 865,747 573,101 367,154 8,959 35 5,900 78 3,058 57 65.86 p. c. l.SOc. 0.63 c. S 16,000,000 12,295,000 1,364,848 2,170,614 2,209,340 191,232 886,610 573,460 558,038 9,748 56 6,357 93 3,390 63 65. 21 p. c. 1.73 c. 0.64 c. S 16,000,000 12,295,000 1,457,501 2,677,398 Bonded Debt Other Liabilities Profit and Loss. . . . Total Liabilities Road & Equipment. . . Leased & Prop. Lines.. Stocks and Bonds Materials, etc Cash & Other Assets . . Total Assets 30,201,836 19,926,695 3,277,641 3,770,083 156,583 3,070,834 31,445,865 20,029,800 3,143,860 5,489,128 170,871 2,612,207 31,651,449 20,164,368 3,162,676 5,743,638 174,075 2,406,692 31,738,383 20,455,233 3,354,019 5,751,253 254,696 1,923,182 31,845,219 20,575,661 3,647,422 5,871,352 413,472 1,337,312 31,830,462 21,194,334 3,715,873 4,531,974 321,089 2,067,192 32,429,899 21,605,930 3,774,201 4,724,014 348,765 1,976,989 30,201,836 31,445,865 31,651,449 31,738,383 31,845,219 31,830,462 32,429,899 POOR S MANUAL CINCINNATI, HAMILTON AND DAYTON SYSTEM. 373 1O. RAILROADS LEASED BY THE C., H. & D. RY. Co. DAYTON AND MICHIGAN RR. — Dayton, O., to Toledo June., O., 142.10 m. ; total track (steel), 210.58 miles. The company uses, in addi- tion, the track of the L. S. & M. S. Ry. into Toledo, 1.39 miles. HISTORY. — Chartered March 5, 1851 ; road opened in 1862. Leased in perpetuity, May 1, 1863, to C., H. & D. Ry. Co. ; lease amended June 23, 1870. Annual rental, interest ($136,400) on bonds, 8 p. c. ($96,900) on preferred stock, and 3i p. c. ($84,067) on common stock. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), common, $2,401,900; preferred, $1,211,250; funded debt ($2,728,000 consol. 5s of Jan. 1, 1911, and $300 income bonds), $2,728,300; C., H. & D. Ry. Co., lessee, $1,409,056 — total, $7,750,506. Contra : Construction and equipment, $7,236,385 ; stocks and other investments, $491,343 ; profit and loss, $22,778 — total, $7,750,506. The $2,- 728,000 consols are guaranteed by the C., H. & D. Ry. Co. CORPORATE OFFICERS. — T. J. Emery, Pres. ; F. H. Short, Sec. & Treas., Cincinnati, O. HOME: AVENUE RR.— Dayton, O., to Sol- diers' Home, 3.50 miles. Leased in perpetuity, July 1, 1897, to the C., H. & D. Ry. Co. The lessee guarantees dividends of from 3 p. c. to 5 p. c. on capital stock, the rate being based upon earnings. For year ending June 30, 1902, dividend amounted to $3,268. Capital stock, $100,000. CORPORATE OFFICERS. — W. P. Callahan, Pres. ; O. J. Bard, Sec. & Treas., Dayton, O. 11. RAILROADS CONTROLLED BY THE C., H. & D. RY. Co. BOWLING GREEN RR. — Tontogany, O., to North Baltimore, O., 21 m. ; total track (steel), 22.54 miles. Chartered April 12, 1874 ; opened in 1877 ; Toledo, Findlay and Springfield RR. pur- chased, Dec. 1, 1890. Capital stock (owned by the C., H. & D. Ry. Co.), $40,000. R. D. Marshall, Pres. ; F. H. Short, Sec. & Treas., Cincinnati, O. CINCINNATI AND DAYTON RY Hamil- ton, O., to Middletown, O., 14 m. ; total track (steel), 16.98 miles. Reorganization, Jan. 1, 1889, of the Louisville, Cincinnati and Dayton RR. Capital stock, $1,000,000 ; 1st mtge. bonds, $300,000 — both owned by the C., H. & D. Ry. Co. R. P. Rifenberick, Pres. ; F. H. Short, Sec. & Treas., Cincinnati, O. COLUMBUS, FINDLAY AND NORTHERN RR. — Deshler, O., to Findlay, O., 17.60 m. ; total track (steel), 22.74 miles. Reorganization, in 1887, of the McComb, Deshler and Toledo RR. Co. Capital stock (owned by C., H. & D. Ry. Co.), $300,000. R. D. Marshall, Pres. ; F. H. Short, Sec. & Treas., Cincinnati, O. PIQUA AND TROY BRANCH RR Troy, O., to Piqua, O., 8.30 m. ; total track (steel), 13.27 miles. Chartered Sept. 30, 1881 ; road completed Oct. 7, 1887. Capital stock (owned by C., H. & D. Ry. Co.), $250,000; 1st mtge. 4 p. c. bonds, (25 bonds are in the treasury), $250,000 — total, $500,- 000. R. D. Marshall, Pres. ; F. H. Short, Treas. ; G. R. Balch, Sec., Cincinnati, O. 12. RAILROAD OPERATED BY THE C., H. & D. RY. Co., BUT RESULTS FROM OPERATION NOT INCLUDED IN SEC. 4. FINDLAY, FORT WAYNE AND "WEST- ERN RY. — Findlay, O., to Fort Wayne, Ind., 77.79 m. ; Findlay east to June., C., C., C. & St. L. Ry., 2.40 m. ; trackage : Wabash RR., Fort Wayne June, to Fort Wayne, 0.55 m. — total, 80.74 miles. Sidings, 8.95 miles. Gauge, 4 ft. 8i in. Rail (steel), 60 and 65 Ibs. Consolidation in Nov., 1894, of the Fort Wayne and Eastern Ry. Co. of Indi- ana and the Ohio Ry. Co. (See Manual for 1897, page 124.) The road has been operated by the C., H. & D. Ry. Co. since Nov. 1, 1901, but all accounts have been kept separate. Locomotives, 6. Cars — passenger, 6; baggage, etc., 2; freight (box, 12; flat, 14; coal, 95), 121; caboose, 2— total, 131, of which equipment 50 coal cars are leased. OPERATIONS, year ending June 30, 1902. — Trains run ( passenger, 79,104 ; freight, 60,501 ; mixed, 16,380), 155,985 miles. Passengers carried, 62,501 ; carried one mile, 1,138,293. Tons freight moved, 170,697 ; ton-miles, 7,985,392. Earnings 13. Board of Directors, Cincinnati, Hamilton and Dayton Ry. Co. Term expires Oct., 1904. Term expires Oct., 1906. G. P. Benjamin.New York, N.Y. Alfred Kessler.New York, N. Y. Herman Dowd... W. A. Shoemaker.Cincinnati, O. C. A. Mayer.. .Lock Haven, Pa. Law. Maxwell, Jr. Eug. Zimmerman. Cincinnati, O. Geo. R. Balch. . . . M. D. WOODFORD, President Cincinnati, O. Eugene Zimmerman, Vice-P resident Sec. and Treas. — F. H. Short Cincinnati, 0. | Auditor — Geo. W. Lishawa Cincinnati, 0. PRINCIPAL OFFICE AND ADDRESS Carew Building, Cincinnati, O. (passenger, $28,357; freight, $73,908; other, $9,515), $111,780. Operating expenses, $105,598. Net earnings, $6,182. Payments : Taxes, $8,390 ; rentals, $3,816— total, $12,206. Deficit, $6,024; deficit forward, $380,872 — total, $386,896. GENERAL BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares ), $2, 000,000 ; funded debt ($1,200,000 1st gold 5s of Jan. 1, 1945, and $800,000 2d gold 5s of Jan. 1, 1945), $2,000,000; bills pay- able, $96,066 ; current liabilities, $5,563 ; Interest accrued, $315,002 — total, $4,416,631. Contra : Cost of road and equipment, $4,019,131 ; securities owned, $8,800 ; cash and current assets, $1,804 ; profit and loss, $386,896 — total, $4,416,631. FORECLOSURE AND SALE OF PROPERTY. — The road was sold under foreclosure July 6, 1903, the purchaser being Rush Taggart, of 195 Broadway, New York, N. Y. A new company is in process of organization. Term expires Oct., 1903. Rush Taggart. . New York, N. Y. M. D. Woodford. .Cincinnati, O. H. F. Shoemaker. New York.N.Y. F. H. Short Cincinnati, O. CINCINNATI, INDIANAPOLIS AND WESTERN RAILWAY COMPANY. (Controlled by Cincinnati, Hamilton and Dayton By. Co.) History. — Consolidation, Aug. 28, 1902, of the Cincinnati, Hamilton and Indian- apolis RR. Co. and the Indiana, Decatur and Western Ry. Co. Statements for the con- stituent companies are appended hereto. 374 POOR S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. Main Line of Road — Hamilton, Ind., to Springfield, 111 295.16 mi Ohio River Division : Sidell to West Liberty, 111 77.75 ' T. ( Indianapolis Union Ry.: Indianapolis, Ind 0.49 ''• ( P.,D. & E. Ry. : West Liberty to Olney, 111 8.25 "• Total mileage operated, June 30, 1903 381.65 miles. Sidings, etc., about 60 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 56 to 70 Ibs. Financial Statement, June 30, 1903 — Capital stock authorized ($100 shares), $8,200,000, of which $7,115,800 has been issued. Of the balance, $11,200 is reserved for the retirement of $8,953 preferred stock of the C., H. & I. RR. Co. and $1,073,000 for the future use of the company. Funded debt authorized: $8,200,000 1st and refunding mortgage 4 per cent. 50-year gold bonds, due Jan. 1, 1953, interest Jan. and July at the office of Kessler & Co., New York, N. Y. At the date of this statement $4,500,000 of the bonds had been issued, $3,478,000 additional were reserved for the retirement of $3,162,000 bonds of the Indiana, Decatur and Western Ry. Co. at 110 per cent., and the remaining $222,000 are to be issued to the Cincinnati, Hamilton and Dayton Ry. Co. The $4,500,000 bonds outstanding were issued to take up the $4,500,000 funded debt of the Cincinnati, Hamilton and Indianapolis RR. Co., and $2,700,000 of them are held in the treasury of the Cincinnati, Hamilton and Dayton Ry. Co. The bonds are guaranteed by the Cincinnati, Hamilton and Dayton Ry. Co., both as to principal and interest, and the guaranty is endorsed upon each bond. CONSTITUENT COMPANIES OF CINCINNATI, INDIANAPOLIS AND WESTERN RY. Co. CINCINNATI, HAMILTON AND INDIAN- APOLIS RR. — Hamilton, O., to Indianapolis, Ind., 98.94 m. ; total track (steel), 121 miles. HISTORY. — Reorganization, Nov. 26, 1872, of the Junction RR. Co. Consolidated with the In- diana, Decatur and Western Ry. Co., Aug. 28, 1902, into the Cincinnati, Indianapolis and West- ern Ry. Co. FINANCIAL STATEMENT. — Capital stock ($2,- 217,758 common and $282,242 preferred), $2,500,000, practically all owned by the C., H. & D. Ry. Co. funded debt ($2,500,000 1st 7s of Jan. 1, 1903, and $2,000,000 gen. 5s of Jan. 1, 1943), $4,500,000. The C., H. & D. Ry. Co. owned $700,000 of the 1st mtge. bonds and the entire issue of gen. mtge. bonds. All the bonds and all the stock, except $8,953 of the preferred stock, have been retired, as shown in the statement for the consolidated company. INDIANA, DECATUR AND "WESTERN RY. — Indianapolis, Ind., to Decatur, 111., 196.22 m. ; Sidell to West Liberty, 111., 77.75 m. — total owned, 273.97 miles. Trackage : Indianapolis Union Ry., Indianapolis, Ind., 0.49 m. ; Peoria, Decatur and Evansville Ry., West Liberty to Ol- ney, 111., 8.25 m. — total, 8.74 miles. Sidings owned, 36.46 miles. Gauge, 4 ft. 8J in. Rail (steel), 56 to 70 Ibs. ROLLING STOCK, June 30, 1902. — Locomotives, 21. Cars — passenger, 8 ; combination, 6 baggage, mail and express, 5 ; freight ( box, 1,952 ; flat, 51 ; stock, 57; coal, 152), 2,212; caboose, 11; service and miscellaneous cars, 5 — total cars, 2,228. Of the box cars, 1,500 are held under car trusts. HISTORY. — Consolidation, July 15, 1895, of the Indiana, Decatur and Western Ry. Co. and the Decatur and Eastern Ry. Co. (see Manual for 1895, page 882). The Chicago Division of the Peoria, Decatur and Evansville Ry., from Sidell to West Liberty, 111., was purchased on Dec. 16, 1898, and was formally merged into this road on Feb. 1, 1899. The extension from Springfield to Decatur, 111., about 44.2 miles, was built under the charter of the Springfield and Decatur Ry. Co. and was purchased by this company in 1901. On Aug. 28, 1902, the Indiana, Decatur and West- ern Ry. Co. was consolidated with the Cincinnati, Hamilton and Indianapolis RR. Co. into the Cin- cinnati, Indianapolis & Western Ry. Co. OPERATIONS, year ending June 30, 1902. — Earnings ( passenger, $197,192.07 ; freight, $444,- 644.79 ; mail and express, $36,149.85 ; miscellaneous, $1,195.18), $679,181.89. Operating expenses, $493,- 369.30. Net earnings, $185,712.59. Payments : In- terest on funded debt, $137,850 ; taxes, $39,600 ; other eharges, $6,255.91 — total, $183,705.91. Sur- plus, $256.68. GENERAL BALANCE SHEET, June 30, 1902. — Capital stock ($912,000 common and $1,100,000 pre- ferred), $2,012,000; funded debt (see below), $3,- 147,000 ; equipment notes, $244,000 ; interest on bonds, due and accrued, $79,099.50 ; current ac- counts, $430,830.90 ; surplus earnings, $102,743.26 — total, $6,015,673.66. Contra : Cost of road and equipment, $5,298,482.55 ; materials on hand, $135,- 284.35; cash and current assets, $581,906.76 — total, $6,015,673.66. FUNDED DEBT. — The funded debt consists of an issue of 1st gold 5s of Jan. 1, 1913 ; a further and final issue of $15,000 has been made since June 30, 1902, making the total now outstanding $3,162,- 000. The bonds are subject to redemotion at 110 p. c. on eight weeks' notice. The C., H. & D. Ry. Co. guarantees $933,000 of them, both as to prin- cipal and interest. EQUIPMENT NOTES. — Issued during the year ending June 30, 1902, in part payment for 500 box cars. The notes bear interest at the rate of 4 p. c. per annum and are payable in from one to ten years. On June 30, 1902, there were also outstand- ing $185,000 of car trust obligations, being the un- paid balance of $475,000 issued on account of 1,000 box cars purchased in 1898. Board of Directors of the Cincinnati, Indianapolis and Western Ry. Co, M. D. Woodford... Cincinnati, O. H. F. Shoemaker. New York, N.Y. W. A. Read... . " " Gordon McDonald, New York, N. Y. C. G. Waldo Cincinnati, O. J. S. Lazarus. .Indianapolis, Ind. W. A. Shoemaker, Connersville, Ind. F. C. Roby Decatur, 111. Geo. R. Balch Cincinnati, O. M. D. WOODFOED, President Cincinnati, 0. H. F. Shoemaker, V 'ice-President New York, N. Y. Secretary — Geo. R. Balch Cincinnati, O. | Treasurer — F. H. Short Cincinnati, PRINCIPAL OFFICE AND ADDRESS Cincinnati, O. .. POOR'S MANUAL OP RAILROADS. 375 DATTON AND UNION RAILROAD COMPANY. 1. line of Road Owned.— Union City, Ind., to Dodson, O.. 31.69m. TRACKAGE: Dayton and Western RR.: Dodson, 0., to Dayton, 0. ... 15.26 m. — 46.95 miles. Sidings, etc., 4.43 miles. Gauge, 4 ft. 8*/2 in. Rail (steel, 31.69 m.), 56 and 60 Ibs. 2. History. — Reorganization, Jan. 19, 1863, of the Greenville and Miami RR. Co., whose road was sold under foreclosure Oct. 30, 1862. (See MANUAL for 1888, page 433.) Right of way over the Dayton and Western RR. is leased from the Pittsburgh, Cincin- nati, Chicago and St. Louis RR. Co., at an annual rental of $10,000. This road is owned jointly by the Cleveland, Cincinnati, Chicago and St. Louis Ry. Co. (which operates it) and the Cincinnati, Hamilton and Dayton Ry. Co. 3. Rolling Stock, June 30, 1902. — Locomotives, 5. Cars — passenger, 6; baggage, mail, and express, 3; freight (box), 3; other, 2 — total cars, 14. 4. Operations, year ending June 30, 1902. — Train mileage — passenger, 208,960; freight, 29,193 — total, 238,153 miles. Passengers carried, 272,867; carried one mile, 4,902,345. Tons freight moved, 117,445; moved one mile, 2,758,701. Earnings — passenger, $91,620.53; freight, $60,285.92; mail and express, $6,858.10; miscellaneous (debit), $286.50 — total, $158,478.05. Expenses — transportation, $80,714.02; mainte- nance of equipment, $18,777.17; of way and buildings, $21,842.95; general, $8,917.27 — total, $130,251.41. Net earnings, $28,226.64; interest and dividends, $10,125.00 — total, $38,351.64. Payments: Interest on bonds, $15,680; other interest, $39.20; taxes, $5,167.28; permanent improvements, $22,820.81 — total, $43,707.29. Deficit, $5,355.65; surplus forward, $593,465.93; net surplus, $588,110.28. 5. General Balance Sheet, June 30, 1902. — Capital stock ($1,000,000 auth.; $100 shares); paid in, $86,300; funded debt (1st 7s of Dec. 1, 1909, int. J. 4 D.), $225,000; current liabilities, $26,413.10; accrued interest, $1,310; profit and loss, $588,110.28— total, $927,133.38. Contra: Cost of road and equipment, $623,075.62; materials and supplies, $3,460.80; cash and current assets, $75,596.96; bills receivable, $225,000— total $927,133.38. 6. Directors.— M. D. Woodford, H. F. Shoemaker, J. D. Layng, C. F. Cox, New York, N. Y.; C. G. Waldo, F. D. Comstock, F. F. Osborn, Eugene Zimmerman, Cincinnati, O.; Noah H. Swayne, Toledo, O. H. F. SHOEMAKER, President New York, N. Y. E. F. Osborn, V ice-President and Secretary Cincinnati, O. Treasurer — F. H. Short Cincinnati, O. | Auditor — P.A.Hewitt Cincinnati, O. PRINCIPAL OFFICE AND ADDRESS Cincinnati, O. DETROIT AND MACKINAC RAILWAY COMPANY. 1. Main Line of Road.— Bay City, Mich., to Tower, Mich 173.60 miles. Rose City Branch: Emery Junction to Rose City, Mich 31.80 Frescott Branch: Emery Junction to Prescott, Mich 11.80 Valentine Lake Branch: La Rocque to Valentine Lake, Mich 25.70 Lincoln Branch: Lincoln Junction to Lincoln, Mich Various Spurs and Logging Branches 72.22 Total length of lines operated, June 30, 1902 329.52 miles. Sidings, etc., 61.25 miles. Gauge, 4 ft. 8y3 in. Rail (steel), 50 to 70 Ibs. 2. History. —Reorganization, Dec. 31, 1894, of the Detroit, Bay City and Alpena RR. Co. (See MANUAL for 1895, page 873.) 3. Rolling Stock, June 30, 1902. — Locomotives, 28. Cars — passenger, 16; combi- nation, 5; parlor, 1; baggage, etc., 4; freight (box), 182; flat, 547; refrigerator, 3; coal, 304; stock, 25), 1,061; service, 31— total, 1,118. 376 POOR'S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. 4. Operation!, year ending June 30, 1902. — Train mileage — passenger, 234,078; freight, 215,424; mixed, 85,534; other, 99,997 — total, 635,033 miles. Passengers car- ried, 250,101; carried one mile, 8,777,980; average mile rate, 2.15 cents. Tons freight moved, 842,092; moved one mile, 59,547,341; average ton-mile rate, 1.21 cents. EARNINGS. 1900-01 Passenger $193,170 64 Freight 644.465 07 Mail and Express 27,701 61 Miscellaneous... 40980 1901-02 $192,372 04 639,163 64 28,331 23 2,324 89 Totals. $865,74712 Average* per Mile 2,69703 $862,191 80 2,665 53 EXPENSES. Maintenance Way and Buildings Maintenance of Equipment Conducting Transportation — General. . . 1900-01 $243,156 91 73,675 64 252,837 44 20,714 50 1901-02 8206,530 81 85,554 60 264,541 62 23,664 46 Totala $590,384 49 $580,291 49 Averages per Mile 1,83920 1,79401 Net earnings, 1901-02 (32.70 p. c.), $281,900.31. Payments: Interest on funded debt, $109,500; taxes, $23,572.94; sundry items, $30,103.58 — total $163,176.52. Surplus, $118,723.79; surplus forward, $439,746.87— total, $558,470.66. 5. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $5,684,017 96 Real Estate 15,71382 Materials and Supplies on Hand 58,49033 Construction 208,15741 Treasurer — First Lien Bonds 450,00000 Current Accounts 32,09914 Cash Deposited for Coupons (Contra) 46,460 00 Cash on Hand 13,05844 Total Assets $6,507,997 10 Common Stock ($100 shares) $2,000,00000 Preferred Stock ($100 shares) 950,00000 Funded Debt Outstanding 2,750,00000 Taxes Accrued, not Due 11,816.05 Taxes Accrued, not Due 7,66667 Notes Payable 110,00000 Coupons Unpresented ( Contra) 46,460 00 Current Liabilities 73,58372 Profit and Loss 558,47066 Total Liabilities $6,507,997 10 6. Capital Stock — The authorized capital stock is $3,000,000, consisting of $2,000,000 common stock and not exceeding $1,000,000 preferred stock. The preferred stock is to be issued only in exchange for mortgage bonds or to fund coupons of those bonds ; its issue to be limited to the amount needed for such purposes. The common stock Is held in trust by a committee consist- ing of Charles Steele, Edmund D. Randolph and Anthony J. Thomas, to be delivered to the owners or to be sold, as may be deemed expedient hereafter. 7. Funded Debt. — Funded debt on June 30, 1902, consisted of $1,050,000 1st lien gold 4s of June 1, 1995, and $1,250,000 gold mtge. 4s of June 1, 1995. The first lien bonds have an absolute prior lien, both as to principal and interest, on the entire property of the company whether now owned or hereafter acquired. The amount authorized is $1,500,000, the rest of the bonds being issuable from time to time up to May 1, 1905, but only to provide the means for build- ing an extension to Mackinac and to provide additional equipment. The mortgage bonds are sub- ordinate to the 1st lien bonds, although issued under the same mortgage. Also, they are subject to redemption at par. Of the $2,500,000 authorized, $500,000 are reserved for additions and Im- provements, not over $50,000 to be used in any one year. Of the $2,000,000 issued, $750,000 were exchanged during the year for preferred stock at par, and the bonds were cancelled. 8. Capitalization, cost of property and results from operation, for seven fiscal years ending June 30: Yearn 1896. 1897. 1898. 1899 1900 1901. 1902. 9. Directors (elected Oct. 28, 1902).— H. K. McHarg, Edward H. Bonner, Amedee D. Moran, Walton B. Ferguson, New York, N. Y. ; J. D. Hawks, Detroit, Mich. J. D. HAWKS, President and General Manager Detroit, Mich. George M. Crocker, Vice-President and Auditor " Secretary — A. H. Gillard New York, N. Y. | Treasurer — Chas. B. Colbrook..New York, N. Y. PRINCIPAL OFFICE AND ADDRESS Majestic Building, Detroit, Mich. Capital Bonded CostRR. RR. Gross Exp. A Net Total Net Interest Total Stock. Debt. A Equip. Oper. Earn. Taxes. Earn. Revenue. Charges. Paym'ts. Balance. $ $ $ Miles. $ $ $ $ $ $ $ 2,045,000 2,900,000 4,922,706 296.40 400,623 281,102 119,521 119,521 230,913 —111,392 2,075,000 2,918,000 5,027,520 296.20 464,214 346,400 117,814 117,814 116,360 116,360 4- 1,454 2,090,000 2,918,000 5,163,756 313.23 481,468 311,147 170,321 170,321 116,720 119,666 + 50,655 2,120,000 2,990,000 5,287,215 320.33 601,441 410,651 190,790 190,790 118,160 118,160 4- 72,630 2,150.000 3,050,000 5,419,862 325.08 833,619 580,156 253,463 253,463 122,000 122,000 4131,463 2,165,000 3,050,000 5,584,239 318.33 865,747 615,159 250,588 250,588 122,000 136,144 4114,444 2,950,000 2,750,000 5,699,732 329.52 862,192 603,864 258,328 258,328 109,500 139,604 4118,724 DETROIT SOUTHERN RAILROAD COMPANY. 1. History.— Chartered May 25, 1901, as successor to the Ohio Southern RR:, and the Detroit and Lima Northern RR. Cos. An outline of the plan of reorganization is in the MANUAL for 1901, on page 666. Since the close of the fiscal year the company has POOR'S MANUAL DETROIT SOUTHERN RR. CO. 377 purchased the Iron Ry., extending from Ironton to Centre, O. 12.75 miles, with 4.75 miles of branches (see appended statement for Iron Ry.). 2. Mileage Operated, June 30, 1902.— LINES OWNED (total; 661.62 miles). Northern Division: Delray, Mich., to Dundee, Mich 39.60 miles. Southern Division: Tecumseh, Mich., to Cornelia, 0 290.87 " Sedalia Branch: Kingman, O., to Sedalia, 0 31.15 " B. TRACKAGE RIGHTS (total, 19.34 miles). Union Term inal Ry. : Detroit, Mich., to Delray, Mich 3.64 " Dei., Toledo & Mil. RR.: Dundee, Mich., to Tecumseh, Mich 15.70 " Total length of lines operated, June 30, 1902 380.96 miles. Sidings, etc., 97.50 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 56 and 90 Ibs. 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 65. Cars — passenger, 22; combina- tion, 5; baggage, mail and express, 8; freight (box, 1,454; flat, 139; stock, 70 (20 leased); coal, 3,202; tank, 1; refrigerator, 4)^4,870; service cars, 51 — total cars, 4,956. 4. Operations, year ending June 30, 1902. — Train mileage — passenger, 403,560; freight, 719,550; mixed, 25,040; other, 239,215 — total, 1,387,365 miles. Passengers car- ried, 318,280; carried one mile, 9,660,200; average mile rate, 1.70 cents. Tons freight moved, 1,582.760; moved one mile, 185,643,100 average ton-mile rate, 0.53 cent. Earnings —Passenger $164,231 49 Freight 979,07581 Mail and Express 38,779 29 Miscellaneous 57,81898 Total ($3,254.68 per mile) $1,239,90557 Expenses — Maint. of Way and Struc... $188,158 33 Maintenance of Equipment 212,618 38 Conducting Transportation. 561,036 63 General Expenses 33,29815 Total ($2,612.11 per mile) $995,110 49 Net earnings (19.76 p. c.), $244,795.08. Payments: Interest on funded debt, $270,000; taxes, $48,000 — total, $318,000. Deficit from operations, $73,204.92; discount on 0. S. Div. bonds, $14,867.50; Napoleon yards, etc., $11,138.74— total, $99,211.16. Credit: Balance from Reorganization Committee, $108,455.84. Net surplus, June 30, 1902, $9,244.68. 4a. Supplementary Profit and Loss Account, April 30, 1903. — Credit balance July 1, 1902, $9,244.68; net earnings, 10 months to April 30, 1903, $292,542.85 — total, $301,787.53. Contra: Ohio Southern purchasers' account, $3,538.66 ; interest on bonds, 10 months, $238,900.06; taxes, 10 months, $45,000; surplus, $14,348.81— total, $301,787.53. 5. General Balance Sheet, June 30, 1902. — Capital stock (common, $10,013,000; preferred, $6,000,000), $16,013,000; funded debt (see Sec. 7), $7,077,000; Car Trust notes, $268,951.39; current liabilities, $155,709.61; interest accrued, not due, $65,700.00; taxes accrued, not due, $18,770.18; profit and loss, $9,244.68 — total $23,608,375.86. Contra: Cost of road and equipment, $23,361,027.19; materials and supplies, $69,227.17; current accounts, $61,416.61; cash on hand and in transit, $116,704.89— total, $23,608,375.86. 6. Capital Stock. — The authorized capital stock consists of 170,000 shares of $100 each, divided into 65,000 shares of preferred stock and 105,000 shares of common stock. After June 30, 1902, $487,000 of common stock and $500,000 of preferred stock, which had been held in the treasury of the company, were sold, the proceeds being used for improvements to the Detroit ter- minals, for additional equipment, and to provide part of the purchase price of the Iron Ry. (see Sec. 2). Both classes of the capital stock have equal voting rights. The preferred stock has priority over the common stock for its full par value in the event of the liquidation of the com- pany, and for non-cumulative dividends at the rate of 4 p. c. per annum out of the yearly net profits of the company. It Is also entitled to a pro rata share of any dividends that may be de- clared in excess of 4 p. c. per annum on both classes of the capital stock. With the exception of $13,000 of common stock held by the directors of the company, both classes of the capital stock are deposited in a voting trust, to bo held therein until June 1, 1906, unless sooner discharged by voluntary action of the voting trustees (F. J. Lisman, John E. Borne, Evans R. Dick, Cyrus J. Lawrence and Leopold Wallack). 7. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of $4,211,000 Ohio Southern Division 1st gold 4s of March 1, 1941, and $2,866,000 consol. gold 4s of June 1, 1951. The Ohio Southern Division bonds are secured by first mortgage on the line from Lima to Cornelia, O., 193 miles, on the branch from Kingman to Sedalia, 31 miles, on 61.11 miles of coal spurs, and on the equipment and appurtenances belonging to that mileage. They are redeemable at 105 p. c. and interest, on or before March 1, 1906, on eight weeks' notice. The authorized issue amounts to $4,500,000, the unissued bonds being reserved mostly for the retirement of car trusts. 378 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. The ooneol. mtge. bonds are secured by second mortgage on the property covered by the Ohio Southern Division bonds and by first mortgage on the rest of the company's property, including future acquisitions. The authorized issue amounts to $10,000,000, bonds amounting to $4,500,000 being reserved to take up the Ohio Southern Division bonds, and the remaining bonds for additional mileage, equipment and improvements. Further particulars respecting the funded debt will be found in the Ready Reference Bond List — see General Index. 8. Financial Chnnjcen, June 30, 1902, to April 30, 1903. — Increase of liabilities (com- mon stock, $487,000 ; preferred stock, $500,000 ; Ohio Southern Division bonds, $69,000 ; consols, $837,000; car trust 41 p. c. bonds, new issue, $400,000; current liabilities, $39,464.12; accrued interest, $25,956.66 ; accrued taxes, $6,586.93), $2,365,007.71 ; increase of profit and loss, $5,104.13 ; decrease of materials and supplies on hand, $22,553.88 — total to be accounted for $2,392,665.72. Contra: Increase of assets (cost of road, etc., $852,174; Detroit River Terminal, $118,706.66; cost of Iron Ry., $1,000,000 ; construction Iron Ry. extension, $230,628.09 ; cash and current as- sets, $125,558.89) $2,327,067.82 ; decrease of car trust notes, $65,597.90 — total accounted for, $2,392,665.72. Between April 30, and June '30, 1903, the amount of Ohio Southern Division bonds outstanding was further increased $14,000, to $4,294,000, and the amount of consols, $113,000, to $3,816,000, while the amount of car trust notes outstanding was lessened from $203,353.49 to $190,233.91. These car trust notes are payable $6,559.79 monthly, without interest. 9. Directors (elected Oct. 27, 1902). — John E. Borne, Cyrus J. Lawrence, Evans R. Dick, Leopold Wallack, Simon Borg, F. J. Lisman, New York, N. Y. ; Samuel Hunt, Don M. Dickinson, Wm. C. McMillan, Benjamin S. Warren, T. D. Rhodes, Detroit, Mich. ; A. B. Voorheis, Cincinnati, O. SAMUEL HUNT, President Detroit, Mich. F. J. Lisman, Vice-President New York, N. Y. Sec. Treas. — T.D.Rhodes Detroit, Mich. | Auditor — W. D. Gray Detroit, Mich. PBINCIPAI, OFFICE AND ADDRESS Detroit, Mich. IRON BY.— Ironton to Centre, O., 12.75 m.; branches, Ironton to Whitwell, 2.75 m. ; Etna Sta. to Etna Furnace, 1 m. ; Bartles to Dean, 1 m. — total, 17.5 m. ; total track (steel, 17.5 m.), 22.45 miles. Gauge, 4 ft. Sy2 in. Rail, 56 and 60 Ibs. The Cincinnati, Hamilton and Dayton Ry. Co. has joint use of track from Dean to Ironton, at a fental of $1,250 per month. Organized July 22, 1884, by purchasing bondholders of the Toledo. Cincinnati and St. Louis RR. Co. (see MANUAL for 1888, page 466). The company passed into the control of the Detroit Southern RR. Co. in Aug., 1902. Locomotives, 5. Cars — passenger, 2; freight (flat, 20; coal, 79), 99— total, 101. Operations, year ending June 30, 1902. — Passengers carried, 9,070; carried one mile, 80,178. Tons freight moved, 165,470; ton-miles, 2,151,110. Earnings (passenger, $2,382; freight, $37,055; other, $43,186), $82,623. Operating expenses, $51,127. Net earnings, $31,496. Payments: Taxes, $2,952; new equipment, $12,455 — total $15,407. Surplus, $16,089; surplus forward, $72,745 — total, $88,834. General Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $600,000; current liabilities, $6,375; profit and loss, $88,834 — total, $695,209. Contra: Cost of road and equipment, $665,803 ; cash on hand, $29,406 — total, $695,209. Directors.— F. J. Lisman, Evans R. Dick, New York, N. Y.; Samuel Hunt, Detroit, Mich.; C. C. Clarke, R. D. McKnight, Ironton, O. OFFICERS: SAMUEL HUNT, Pres., De- troit, Mich. ; F. J. Lisman, Vice-Pres., New York, N. Y. ; T. D. Rhodes, Sec. & Treas. ; W. D. Gray, Aud., Detroit, Mich.; C. C. Clarke, Gen. Mgr., Ironton, O. GENERAL OFFICE, Ironton, O. EVANSVILLE AND TEREE HAUTE RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Controlled Road, Statem't of. 10 Directors and Officers 11 Earnings, Expenses, etc 6 Funded Debt, Details of 7 Gen. Bal. Sheet.June 30, 1902. 6 Gen. Bal. Sheet, 1896-1902... 3 Guaranteed Bonds 8 History 2 Income Acct., June 30, 1902.. B Income, etc., 1896-1902 3 Mileage and Equip., 1896-1902 3 Mileage Owned and Operated 1 Operations and Inc., 1896-1902 3 Rolling Stock 4 Stocks Owned 9 1. Main Line of Road.— Evansville, Ind., to Terre Haute, Ind 108.56 miles. Mt. Vernon Branch: Fort Branch to Mt. Vernon, Ind 36.79 " Sullivan County Coal Branch: Standard to Hymera, Ind 11.75 " Kockville Extension (leased to T., H. & L. and the C. & E. I. RR. Cos.) 23.00 " OPERATED : Evansville Belt Ry. around Evansville, Ind 4.45 " Total length of lines, June 30, 1902 184.55 miles. Sidings, etc. (owned, 59.05 m.; leased, 4.31 m.), 63.36 miles. Gauge, 4 ft. 8V2 in. Rail (steel), 60, 70, and 80 Ibs, POOR S MANUAL EVANSVILLB AND TERRfi HAUTE RR. CO. 379 2. History. — Successor by change of name, April 1, 1877, to the Evansville and Crawfordsville RR. Co. (see MANUAL for 1888, page 439). The Rockville Extension is not operated by this company, being leased, till Nov. 1, 1978, to the Terre Haute and Logans- port and the Chicago and Eastern Illinois RR. Cos., at a yearly rental of $12 000. The company has a traffic contract with the Chicago and Eastern Illinois RR. Co. In addition to the railroad lines as above, this company is owner of terminal prop- erty connecting with the Ohio River. It also awns a controlling interest in, and operates, the Evansville Belt Ry., connecting all railroads and reaching all manufacturing interests and coal mines at Evansville, Ind. The Evansville and Indianapolis RR. is operated in connection with this railroad, but its accounts are kept separate. (See GENERAL INDEX.) Any deficit resulting from the operation of that road is taken care of before dividends are declared on the stock of this company. 3. Statement of operations, capital account, etc., for seven fiscal years ending June 30 : 1896 1897 1898 1899 1900 1901 1908 161.55 365,433 398,650 Milea of Road Operated 167.73 303,813 323,022 166.88 301,734 270,417 39.963 167.70 332,478 352,465 20,147 167.70 360,412 363,265 161.55 361,263 388,862 161.55 363,718 396,472 Mixed Train Miles Total Rev Train Miles 626,835 313,417 12,841,346 1,039,242 64,224,412 $ 1,122,797 642,442 612,114 241,301 11,455,961 942,330 59,869,714 $ 1,003,430 555.808 705,090 293,887 11,568,848 1,404,477 89,012,441 S 1,218,132 734,689 723.677 333,052 12.339,259 1,502,192 86,664,728 $ 1,259,434 697,079 750.125 342,379 12,816,337 1,718,539 100,445,054 S 1,392,760 771,129 760,190 347,494 13,146,909 1,708,588 101,196,986 $ 1,393,942 792,303 764,083 361,934 14,304,297 1,810,425 109,344,068 1 1,453,660 749,184 Gross Earnings,, Net Earnings 480,355 15,104 447,622 17,191 483,443 32,308 562,355 49,264 621,631 37,248 601,639 45,917 704,476 39,232 Other Receipt! Net Income 495,459 384,694 464,813 385,574 (*) 25,680 53,559 6,012 88 3,330 58 2,682 30 55.39 p.c. 2.05 c. 0.96 c. 185.43 238.21 189.58 55 37 4,235 $ 5,145,267 5,978,000 343,312 1,526,044 515,751 403,098 611,619 407,221 (t) 51,333 153,065 7,510 05 4,156 71 3,353 34 55.35 p.c. 2.40 c. 0.88 c. 186.25 239.36 206.17 52 38 4,061 1 5,279,100 6,078,000 274,144 1,630,260 658,879 408,478 (t) 203.667 46,734 8,621 23 4,773 32 3,847 98 55.37 p.c 2.44 c. 0.87 c. 180.10 238.72 224.32 50 38 3,889 5,269,800 6,078,000 261,642 1,513,395 647,556 415,203 (S) 183,752 48,601 8,628 55 4,904 39 3,724 16 56.84 p.c. 2.45 c. 0.87 c. 180.10 238.27 238.27 50 38 3,769 $ 5,269,800 6,078,000 223,307 1,475,392 743,708 (T) 669,056 Interest Taxes, etc Dividends 110,765 6,648 49 3,804 02 2,844 47 56.46 p.c. 2.10c. 1.03 c. 185.43 244.77 181.25 55 39 4,262 $ 5,280,683 5,978,000 369,404 1,711,312 112,653 7,263 76 4,380 97 2,882 79 60.31 p.c. 2.34 c. 0.83 c. 186.25 238.98 190.35 52 38 4,094 S 5,279,100 6,078,000 273,316 1,653,516 74,652 8,998 20 4,637 47 4.360 73 51.54 p.c. 2.39 c. 0.85 c. 180.10 239.15 239.15 40 39 3,501 S 5,269,800 6,078,000 225,130 74,653 Gross Earnings per Mile Aver. Rate per Pass, per Mile Aver. Rate per Ton per Mile Milea of Road Owned Miles of Track Owned Miles of Steel Rail Locomotives Passenger Train Cars Freight Train Cars . Capital Stock Funded Debt Current Liabilities Total Liabilities 13,339,399 8,802,607 3,617,007 32,942 886,843 12,992,623 8,827,076 2,332,907 10,742 1,821,898 13,283.932 9,951,654 2.466,740 43,701 821,837 13,261,504 10,044.160 2,456,740 73,632 686,972 13,122.837 10,049,302 2,390,132 74,130 609.273 13,046,499 10,105,751 2,347,366 55,345 538,037 11,647,583 10,549,764 316,241 72,317 709.261 Construction and Outfit Other Investments Fuel and Materials Cash and Other Assets Total Assets 13,339,399 12.992,623 13,283,932 13,261,504 13,122,837 13,046,499 11.647.583 • 2 p. c. on preferred stock, t 4 p. c. on preferred stock, t 6 p. c. on preferred stock and 3J p. c. on common stock. | 5 p. c. on preferred stock and 3 p. c. on common stock, f Including $64,- 053 net deficit on E. & I. RR. and $189,379 for depleted equipment. 380 POOR'S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. 4. Rolling Stock, June 30, 1902. — Locomotives, 40. — Cars — passenger, 24; combi- nation, 3; baggage, mail and express, 12; freight (box, 775; stock, 70; flat, 457; coal, 2,105; White Line, 14), 3,421; service, 80— total cars, 3,540. 5. General Income Account (161.55 miles), year ending June 30, 1902. EABNINGB. 1900-01 1901-02 Passenger $321,951 55 $341,227 84 Freight 880,645 83 927,749 35 MaUand Express 71,09540 57,33837 Miscellaneous 120,24956 127,34405 Totals $1,393,942 34 $1.453,659 61 Averages per Mile 8,62855 8,99820 EXPENSES. 1900-01 Maint. of Way 4 Structure* $164,244 20 Maintenance of Equipment 210,549 95 Conducting Transportation 367,077 04 General 50,431 78 1901-02 $138,602 63 189,976 37 358,591 40 62.013 68 Totals $792,302 97 $749,184 08 Averages per Mile 4,90439 4,63747 Net earnings, 1901-2 (48.46 p. c.), $704,475.53; rental from C. & E. I. RR. Co., $3,000; from T. H. & L. RR. Co., $9,000; interest on current assets, $27,232.89 — total net income, $743,708.42. Payments: Interest on bonds, $337,950; rentals, $11,291.75; taxes, $06,380.94— total first charges, $415,622.69. Net income, $328,085.73; net de- ficit, E. & I. RR., $64,053.76; depleted equipment, $189,379.10— total, $253,432.86. Net profit June 30, 1902, $74,652.87. 6. General Balance Sheet, June 30, 1902. Cost of Road 8,527,995 72 Common Stock $3 987 383 33 Cost of Equipment 2,021,768 09 Preferred Stock ....$1,5 83,333 33 916 67—1,282,416 66 6,078 000 00 Stocks Owned (see below) 316,24093 Less Undelivered Advances to E. & I. RR ..... 25,638 30 Funded Debt Cash 540,484 86 Current Liabilities... 186 092 58 139,047 47 Accrued Interest, not Profit and Loss Due. .. 39 037 50 72 317 06 74 652 87 Accounts In Suspense 4,090 52 Total Assets $11,647,582 94 Total Liabilities $11,647,582 91 7. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of $30,000 con- sol, gold 6s of July 1, 1910 ; $3,000,000 1st consol. gold 6s of July 1, 1921 ; $375,000 Mt. V. Br. gold 6s of April 1, 1923 ; $450,000 Sullivan County Branch gold 5s of April 1, 1930, and $2,223,000 1st gen. gold 5s of April 1, 1942. The consol. 6s of July 1, 1910, are secured by first mortgage on the main line and on 6 miles of the Mount Vernon Branch. The 1st consol. 6s of July 1, 1921, are secured on the main line, on Rockville Extension and on 12 miles of the Mount Vernon Branch (Fort Branch to Cynthiana), subject to the lien of the consol. mtge. of June 1, 1880. The Mount Vernon Branch bonds are secured on the extension from Cynthiana to Mount Vernon, 25 miles. They are limited in issue to $15,000 per mile, but it is provided that in case of the building or acquisiton by the E. & T. H. RR. Co. of any extension of the Mount Vernon Branch or of any branch to the main track of the E. & T. H. RR., additional bonds may be issued under the same mortgage at the rate of not exceeding $15,000 per mile. The Sullivan County Branch bonds are secured on the branch named. Only green bonds of this issue are a good delivery. The 1st gen. mtge. bonds are secured on the entire property, subject to prior liens. The authorized amount is $7,000,000, bonds amounting to $3,855,000 being reserved for the retirement of prior liens at maturity, and the balance for other corporate purposes. 8. Guaranteed Bond*. — The company guarantees $647,000 1st 6s and $1,602,000 consol. 6s of the Evansville and Indianapolis RR. Co., both as to principal and interest. 9. Stocks Owned — Evansville Belt Ry. Co., $108,784 ; West Jackson Hill Coal Mining and Trans. Co., $134,956.93; other stocks, $72,500 — total, $31.6,240.93. 1O. RAILROAD CONTROLLED AND OPERATED BY THE E. & T. H. RR. Co. EVANSV1L,L,E BELT RV Around Evans- ville, Ind., 4.45 m. ; total track (steel; 60 Ibs), 8.76 miles. HISTORY. — Chartered May 6, 1881; operated by the E. & T. H. RR. Co. INCOME ACCOUNT, year ending June 30, 1902. — Rental, $1,245 ; other receipts, $12,150 — to- tal, $13,395. Expenses and taxes, $12,384. Sur- plus, $1,011. BALANCE SHEET, June 30, 1902. — Capital stock, $100,000 ; unfunded debt, $67,867 ; income balance, $32,299 — total, $200,166. Contra : Cost of road and equipment, $115,328 ; other investments, $81,983 ; other assets, $2,855 — total, $200,166. CORPORATE OFFICERS. — B. F. Yoakum, Pres., New York, N. Y. ; George H. Ball, Vice- Pres., Boston, Mass. ; Gilbert S. Wright, Sec. & Treas., Evansville, Ind. Office, Evansville, Ind. 11. Board of Directors, E. & T. H. RR. Co., as constituted Aug. 15, 1903. W. F. Carlton...New York, N.Y. B. F. Yoakum... " George H. Ball Boston, Mass. Chas. A. Nones. .New York, N.Y. Henry Seibert. . .New York, N.Y. A. Lauterbach.. . " " " Geo. S. Brewster. " " " W. L. Stow ' J. D. Donald New York, N.Y. Wm. C. Shanley. ..Newark, N.J. E. W. Winter.... New York, N.Y. H. H. Porter, Jr Chicago, 111. R. K. Dunkerson Evansville, Ind. B. F. YOAKUM, President New York, X. Y. George H. Ball, V 'ice-President Boston, Mass. Treasurer — C. W. Hillard New York, N. Y. | Secretary — G. S. Wright Evansville, Ind. PRINCIPAL OFFICE AND ADDRESS Evansville, Ind. POOR'S MANUAL OF RAILROADS. 381 EVANSVILLE AND INDIANAPOLIS EE.— E. & T. H. Junction to Terre Haute, Ind., 134.15 m. ; total track (steel, 155.56 m.), 161.28 miles. Gauge, 4 ft. 8% in. 50 and 60 Ibs. The company leases 11.8 miles of the Terre Haute and Indianapolis RR., from Saline City to Brazil, Ind., and has trackage rights in 3.5 miles of the Evansville and Terre Haute RR., from E. & T. H. Junction to Evansville, Ind.; making the total length operated 149.45 miles. History. — Consolidation, Nov. 14, 1885, of the Evansville and Indianapolis RR. Co., the Terre Haute and Southeastern RR. Co. and the Evansville, Washington and Brazil RR. Co. (see MANUAL for 1891, page 703.) Controlled by the Evansville and Terre Haute RR. Co., through ownership of the capital stock. Rolling Stock. — Freight cars (flat, 6; coal, 3), 9. Operations, year ending June 30, 1902. — Train mileage — passenger, 124,508; freight, 78,989; mixed, 83,393; other, 34,172 — total, 321,062 miles. Passengers carried, 187,986; carried one mile, 3,925,648. Tons freight moved, 340,435; ton-miles, 17,- 471,416. Gross earnings (passenger, $96,038; freight, $204,712; other, $23,711), $324,461. Operating expenses, $226,368. Net earnings ( 30.24 p. c. ) , $98,093 ; interest and rentals received, $14,050 — total, $112,143. Payments: Interest on bonds, $152,510; other inter- est, $60; rentals, $3,000; taxes, $20,627 — total, $176,197. Deficit, $64,054, assumed by E. &«T. H. RR. Co. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $2,000,000; funded debt (see Sec. 7), $2,500,000; debenture bonds, $2,132; current accounts, $38,- 406.08; accrued interest, $75,041.67 — total, $4,615,579.75. Contra: Cost of road and equipment, $4,200,824.89 ; materials on hand, $2,270.22 ; cash on hand, $74,982.42 ; current accounts, $12,648.85; suspense accounts, $1,332.08; profit and loss, $323,521.29 — total, $4,615,579.75. Funded Debt — Funded debt consists of $251,000 T. U. & S. E. 1st 7s of Sept. 1, 1909; $647,000 E. & I. 1st 6s of July 1, 1924, and $1,602,000 ($2,500,000 autn.) consol. 6s of Jan. 1, 1926. The bonds are guaranteed by the E. & T. H. RR. Co., both as to principal and interest. Directors ( as constituted Aug. 15, 1903 ) W. F. Carlton, B. F. Yoakum, Chas. A. Nones, Alfred Lauterbach, Henry Seibert, New York, N. Y.; George H. Ball, Boston, Mass.; R. K. Dunkerson, Evansville, Ind. OFFICERS: B. F. YOAKUM, Pres., New York, N. Y.; George H. Ball, Vice-Pres., Boston, Mass.; C. W. Hillard, Treas., New York, N. Y. ; Gilbert S. Wright, Sec. & Asst. Treas., Evansville, Ind. PRINCIPAL OFFICE, Evansville, Ind. GEEEN BAY AND WESTEEN EAILEOAD COMPANY. 1. Main Line of Eoad. — Green Bay to East Winona, Wis.. 212.5m. La Crosse Branch: Onalaska to La Crosse, Wis 6.5 m. Steven's Point Branch : Plover to Steven's Point, Wis 6.0 m. TRACKAGE: C. & N. W. Ry.: Marshland to Onalaska, Wis 23.0 m.— 248.0 miles. Sidings, etc., 23.08 miles. Gauge, 4 ft. Sy2 in. Rail (steel, 229.8 m.), 70 and Iiy2 Ibs. 2. History. — Reorganization, June 5, 1896, of the Green Bay, Winona and St. Paul RR. Co. (see MANUAL for 1896, page 1509). The company has an interest in a lease of the bridge across the Mississippi River, which gives it an entrance into Winona, Minn. 3. Eolling Stock, Dec. 31, 1902. — Locomotives, 21. Cars — passenger, 14; bag- gage, mail, and express, 7; freight (box, 365; flat, 60), 425; service cars, 28 — total cars, 474. 4. Operations, year ending Dec. 31, 1902. — Train mileage — passenger, 135,704; freight, 187,174; mixed, 60,096 — total, 382,974 miles. Passengers carried, 155,391; car- ried one mile, 4,109,543; average mile rate, 2.34 cents. Tons freight moved, 338,861; moved one mile, 42,485,962; average ton-mile rate, 0.90 cent. EARNINGS. 1901 1902 Passenger $98,574 72 $102,116 08 Freight 400,627 00 374,140 39 Mail and Express 24,044 14 25,999 17 Miscellaneous 4,06590 9853 Totals $527,31176 $502,35417 Averages per Mile 2,128 25 2.C2S C2 EXPENSES. 1901 1902 Maintenance Way and Structures.. $140.07254 $127,99449 Maintenance of Equipment 43,348 M 38,917 99 Conducting Transportation fc 148,544 62 144,764 66 General Expenses 23,336 43 24,697 30 Totals. . . . $355,302 10 $336,374 44 Averages per Mile 1,432 67 1,356 35 382 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. Net earnings, 1902 (33.04 p. c.), $165,979.73. Paid taxes, $16,457.76. Surplus, $149,521.97; surplus forward, $27,912.21 — total, $177,434.18. Deduct dividend payable Feb. 2, 1903 (4 p. c. on $600,000 "A" debentures, $24,000; 4 p. c. on 25,000 shares of stock, $100,000), $124,000. Surplus, $53,434.18. 5. General Balance Sheet, Dec. 31, 1902. Cost of Road $9,954,000 00 Cost of -Equipment 121,000 00 Stocks Owned 94,68000 Cash 33,76539 Materials and Supplies 12,191 82 Treasurer 187,04921 General Auditor 11,27257 Current Assets 21,67637 Capital Stock ($100 shares) $2,500,00000 " A " Debentures 600,000 00 " B " Debentures 7,000,000 00 Current Liabilities 133,60268 General Improvement Fund 24,598 50 Dividend Due Feb. 2, 1903 124,00000 Profit and Loss Surplus , 53,43418 Total Assets $10,435,63536 Total Liabilities $10,435,63536 6. Rights of Debentures and of Stock. — The net earnings of the company are to be applied each year as follows: (1) 2i p. c. on the $600,000 series " A" debentures; (2) 2J p. c. on the $2,500,000 stock ; (3) " A " debentures and stock a pro rata on surplus up to 5 p. c. per annum ; (4) the surplus earnings after the above, to be distributed pro rata to the holders of the "B" debentures. All of such income payments to be non-cumulative. It is provided that no mort- gage shall be placed upon the railroad and property, nor the same be leased or sold, without the consent of the holders of 75 p. c. of the capital stock outstanding ; and in case of any future sale or reorganization of the property the proceeds of such sale or reorganization shall, after payment of all liens and charges upon said property, be first distributed to and among the holders of class " A " debentures and the stockholders pro rata, and any surplus remaining after payment of the face value of the said class " A " debentures and the par of said stock shall be distributed pro rata to and among the holders of the class " B " debentures. 7. Directors.— S. S. Palmer, Princeton, N. J.; William J. Hunt, C. Ledyard, Blair, New York, N. Y. ; J. A. Jordan, Green Bay, Wis. ; Mark T. Cox, East Orange. N. J. S. S. PALMEB, President and Chairman of the Board .... New York, N. Y. J. A. Jordan, Vice-President and General Manager. . . .Green Bay, Wis. See. & Treas. — Mark T. Cox — New York, N. T. | Can. Aud. — J. C. Thurman Green Bay, Wis. PRINCIPAL OFFICE AND ADDRESS 40 Wall Street, New York, N. Y. General and Operating Office Green Bay, Wis. HOCKING VALLEY RAILWAY COMPANY (THE) (For map of this road, see page 383.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 7 Car Trust Bonds 10 Car Trust Obligations 1] Directors and Officers 14 Earnings, Expenses, etc .... 4 Funded Debt, Details of 9 Mileage and Equip., 1900-2.. 8 Mileage Operated 1 Operations, June 30, 1902 4 Oper. and Income, 1900-2 4 Profit and Loss, June 30, 1902 5 Rolling Stock 3 Gen. Bal. Sheet, June 30, 1902. 6 Gen. Bal. Sheet, 1900-2 S Guaranteed Bonds 12 History 2 Income Acct., June 30, 1902. 4 Leased Line, Statement of. . 13 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 321.0 miles). Toledo Division : Eockwell to Columbus, O 120.0 miles. Hocking Valley Division: Columbus to Athens, 0 76.0 " Ohio River Division : Logan to Pomeroy, O 83.0 " Straitsville Branch: Logan to New Straitsville, 0 13.0 " Monday Creek Branch: Nelsonville to Monday Creek Junction, 0 17.0 " Snow Fork Branch : Snow Fork Junction to Coalgate, 0 8.0 " Brush Fork Branch: Brush Fork Junction to New Pittsburgh, O 2.5 " Ohio Central Branch: Walbridge to Hickox, 0 1.5 " B. OPERATED. Wellston and Jackson Belt Ry.: McArthur June, to Jackson, 0 17.5 " O. TRACKAGE RIGHTS (total, 8.5 miles). Toledo, Walhonding Valley & Ohio RR.: Walbridge to Toledo, 0 5.5 " Lake Shore & Michigan Southern Ry.: Rockwell to Toledo, 0 2.5 " Pittsburgh, Cincinnati, Chicago & St. Louis Ry. : Columbus, O 0.5 " Total length of all lines operated, June 30, 1902 347.0 miles. 2d track, 25.5 m.; ridings (owned, 200.0 m.; operated, 7.0 m.; trackage, 4.0 m.), 211.0 miles. The company also operates 14.0 m. of private track; making total length of track operated, 597.5 miles. Gauge, 4 ft. 8y2 in. Rail (steel, owned, 546.5 m.), 52, 60, 63, 67, and 80 Ibs. POOR'S MANUAL OP RAILROADS— CENTRAL NORTHERN GROUP. 2. History. — Chartered Feb. 25, 1899, to take over the railroad property, stocks bonds, etc., covered by the Columbus, Hocking Valley and Toledo Ry. Co.'s consolidated 5 p. c. mortgage of 1881 and general lien 4 p. c. mortgage of 1896, and by the joint gen- eral mortgage made in 1884 by the Columbus, Hocking Valley and Toledo Ry. Co. p.nd the Hocking Coal and RR. Co., all of which mortgages were foreclosed on Feb. 24, 1899. The coal property was conveyed to the Buckeye Coal and Ry. Co.; all of the capital stock of which is owned by the Hocking Valley Ry. Co. (See MANUAL for 1898, page 420.) The Buckeye Coal and Ry. Co. owns all the capital stock of the Ohio Land and Ry. Co., and the Hocking Valley Ry. Co. owns substantially all the bonds of the same company. The Hocking Valley Ry. Co. also owns all the stock and all the bonds of the Wellston and Jackson Belt Ry. Co. and owns or controls more than 99 p. c. of each class of the capital stock of the Toledo and Ohio Central Ry. Co. In October, 1902, the Hock- ing Valley Ry. Co. acquired all the securities of the Zanesville and Western Ry. Co., state- ment for which see. The Hocking Valley Ry. Co. and the Toledo and Ohio Central Ry. Co. control the entire tonnage of the Continental Coal Co., which owns or leases more than 30,000 acres of land in Athens, Perry and Hocking Counties, Ohio. 3. Rolling Stock, June 30, 1902. — Locomotives, 112. Cars — passenger, 41 ; com- bination, 5; parlor, 3; baggage, mail, and express, 14; freight (refrigerator, 25; box, 2,281; flat, 176; lime, 116; gondola, 11,287; dump, 435), 14,320; service cars, 78 — total cars, 14,461. 4. General Income Account, year ending June 30, 1902. Earnings— Passenger $726,00145 Freight 1,902,137 12 Coal 2,391,296 32 Mail, Express, etc 297,08799 Total ($15,321.39 per mile) $5,316,52285 Expenses -Ma int. Way and Struct.... $568,15542 Maintenance of Equipment 860,267 52 Conducting Transportation. 1,532,576 44 General Expenses 124,622 54 Total ($8,892.28 per mile) $3,085,62192 Net earnings (41.97 p. c.), $2,230,900.96; other income, $504,548.95 — total, $2,735,- 449.91. Payments: Taxes, $143,709.47; lease rentals, $24,564.04; interest on funded debt, $839,539.20; other interest, $45,314.69; net deficit, subsidiary companies, $79,949.89— total, $1,133,077.29. Surplus, $1,602,372.62. 5. Profit and LOSS Account, year ending June 30, 1902.— Credits : Balance, June 30, 1901, $1,579,646.62; surplus income for year, $1,602,372.62 — total, $3,182,- 019.24. Debits: Dividends on preferred stock, Xos. 5 and 6 (Jan. 10, and July 20, 1902), 2 p. c. each, $560,000: dividends on common stock, Nos. 2 and 3, Jan. and July, 1902, iy2 p. c. each, $312,648.37; sundry profit and loss items (net), $2,807.96; credit balance, June 30, 1902, $2,306,562.91— total, $3,182,019.24. 6. General Balance Sheet, June 30, 1902. Cost of Road and Property $24,588,95101 Rolling Equipment 7,393,19881 Securities Owned 11,858,06689 Unexpended Bal. in Sinking Funds. . 107,980 29 Cash for Construction and Equip 412,583 60 Kanawha & Mich. Ry. Equip Notes.. 1,375,000 00 Materials and Supplies 184,67566 Cash on Hand and in Transit 197,568 53 Cash to Pay Coupons and Dividends 267,046 00 Agents and Conductors 96,33337 Individuals and Companies 1,022,79701 U. S. Government — P. O. Dept 10,17283 Bills Receivable 1,025,00000 Accrued Interest Receivable 21,20407 Total Assets $48,560,578 07 Common Stock ($100 shares) $10,421,600 00 Preferred Stock ($100 shares) 14,000,00000 Funded Debt Outstanding 16,722,000 OC Car Trust Bonds, Series A 448,000 OC Car Trust Bonds, 1902 1,600,000 OC Car Trust Obligations $1,456,86045 Less Interest Unaccrued... 158,148 97—1,298,711 4S Current Accounts 500,22002 Int. and Dividends Due and Unpaid. . 703,370 7f. Bills Receivable Discounted 340,000 OC' Accrued Interest on Funded Debt.... 117,406 6fi Accrued Taxes 50,65474 Reserve Funds 52,061 51 Profit and Loss 2,306,562 91 Total Liabilities. $48,560,578 0" 7. Capital Stock. — The capital stock was increased to a total of $26,000,000 ($11,000,000 common and $15,000,000 preferred) in Oct., 1902, by the issuing of $578,400 of common stock and $1,000,000 of preferred stock to acquire all the securities of the Zanesville and Western Ry. Co. The Middle States Construction Co. holds $38,000 of the common stock and $8,300 of the pre- ferred stock for the purpose of acquiring additional stock of the Toledo and Ohio Central Ry. Co. Railroad Map of Indiana. American Bank Note Company [C, NEW YORK NEWYORK"] BUSINESS FOUNDED 1793 AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security ; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE Poor's Manual— Railroad Map of the United States, 1903. INDIANA. Railroad Map of Indiana. T5E MONEY QUESTION A HANDBOOK FOR THE TIMES By HENRY V. POOR, Author of " Money and its Laws," " Resumption and the Silver Question," "Twenty-two Years of Protection," "Poor's Manual of the Railroads of the United States," etc., etc. 7. viii-337, Svo. CtotA. Fries TABLE OF CONTENTS. United States Notes, United States Safety-Fund Banking System. Gold Certificates* Demonetization of the Silver Dollar. Act of 1873. Remonetization of Silver. Act of J890. Position of the Late Administration. The Sound Money "Wing of the Democracy The Free Coinage Democracy. Position of Present Administration. Bi-metallism. The Remedy. NOTES AND ILLUSTRATIONS. The Silver Recoinage in England. Paper Money in France — The Mississippi Scheme* Adam Smith. What is Money? Function of Governments in the Matter of Metallic Money. Metallic Money of the United States. Symbolic Money — Banks of Issue. Savings Banks. Money fay Law. Bank of the United States. Overthrow of the Bank and the Inflation of the Currency. Change of Standards. Acts of 1834 and 1837. Debasement of the Silver Currency. Act of J853. Consequences resulting from the Abandon- ment by the Government of Oversight of the Currency. PR ICE Sent postpaid to any address, on receipt of price. POOR'S RAILROAD MANUAL CO. 68 William St., New York Gty. Or, may be ordered through any bookseller. POOR'S MANUAL — HOCKING VALLEY RY. CO. (THE). 385 Preferred stock has priority over common stock for non-cumulative dividends up to 4 p. c. per annum out of the net profits of the company and for its par value in the event of a dissolution of the corporation. It is subject to redemption at par any time after three years from date of issue. When- ever dividends of 4 p. c. are declared in any fiscal year on both classes of the stock any further divi- dends for such fiscal year shall be equally for the benefit of all shares, whether preferred or common. 8. Statement of operations, property and general balances for three fiscal years eliding June 30: 1900 1901 1902 1900 1901 1902 Pass. Train Mileage . . . Freight Train Mileage. . Other Train Mileage Total Train Mileage Passengers Carried .... 751,490 1,246,020 843,336 715,499 1,291,593 903,945 663,258 1,480,684 1,171,325 Miles Rd. Oper. (av.) . . Gross Earn, per Mile . . . Oper. Ex per Mile. . . . Net Earn, per Mile Expenses to Earnings. . Av. Earn. p. Pass. p.M . Av. Earn. p. Ton per M. Miles Road Owned .... Miles Track Owned .... 345.5 $ 12,785 13 . 7,310 39 347.0 $ 13,409 97 7,652 75 347.0 I 15,321 39 8,892 28 2,840,846 1,538,967 32,993,322 6,691,394 2,911,037 2,044,306 32,307,033 6,756,611 3,315,267 1,947,605 32,362,418 8,156,514 1,003,371,955 1 726,001 4,293,434 297,088 5,474 74 57.18p.c. 1.86 c. 0.45 c. 320.0 509.3 509.3 107 53 12,365 69 $ 24,421,625 15,193,000 2,335,825 1,448,548 938,983 5.757 22 57.07p.c. 2.08 c. 0.44c. 321.0 524.0 524.0 104 63 12,295 74 1 24,421.625 15,722,000 1,634,290 2,175,726 1,579,647 6,429 11 58.03 p.c. 2.21 c. 0.43 c. 321.0 546.5 546.5 112 63 14,320 78 $ 24,421,600 16,722,000 3,346,711 1,763,704 2,306,563 Freight (tons) Moved.. . Freight (ton) Miles .... Earnings— Passenger . . Freight .... 805,317,681 $ 623,361 3,607,377 833,528,765 682,283 3,687,031 Other Gross Traffic Earnings . . Operating Expenses . . Net Traffic Earnings. . Other Receipts 186,529 283,944 4,417,267 2,525,740 4,653,258 2,655,503 5,316,523 3,085,622 Miles Steel Rail 1,891,527 295,387 1,997,755 474,084 2,230,901 504,549 Pass. Train Cars Freight Train Cars Net Income Payments— Taxes Interest. . . Rentals. . . . Other Totals 2,186,914 115,467 807,980 12,208 82,711 2,471,839 129, 783 881,805 24,428 81,645 2,735,450 143,709 884,854 24,564 79,950 Service Cars Capital Stock Funded Debt CarTrusts 1,018,366 1,168,548 207,535 3.080 1,117,661 1,354,178 938,983 2,810 1,133,077 1,602,373 1,579,646 Current Liabilities Profit and Loss Total Liabilities Cost of Rd. & Property. Surplus Forward 44.337.981 24.379,164 5 783 612 45,533.288 24,551,268 5866 112 48,560,578 24,588,956 7,393,191 13,233,069 184,676 107,980 3,052,706 Sundry Credits Totals 1,379,163 430,000 2,295,971 560,000 156,324 i.579.647 3,182,019 560,000 312,648 2,808 2,306,563 Debits— Pref. Dividend. Com, Div 12,210,436 270,546 282,118 1,412,105 11,801,253 212,302 99,451 3,002,902 Adjustments.. . Credit Bal . . . Totals 10,180 938,983 Cash & Cur. Assets Total Assets. 1,379,163 2,295,971 3,182,019 44.337,981 45,533,288 48,560,578 9. Funded Debt — The funded debt outstanding on May 31, 1903 — total, $17,642,000, the increase of $920,000 over the amount as per general balance sheet representing 1st consol. mtge. bonds issued after the close of the fiscal year — consisted of the following issues (additional par- ticulars will be found in the Ready Reference Bond List — see General Index) : ¥1,4O1,OOO C. & H. V. RR. 1st (extended) gold 4s of Oct. 1, 1948. Secured on the line from Columbus to Athens, O., 76 miles, and on 41 miles of branches. $2,50O,OOO C. & T. RR. 1st 7s of Aug. 1, 1905. Secured on the line from Columbus to Walbridge, O., 118 miles. $1,584,OOO O. & W. Va. Ry. 1st 7s of May 1, 1910. Secured on the line from Logan to Pome- roy, O., 83 miles. f 12,157,OOO H. V. Ry. 1st consoZ. gold 3Js of July 1, 1999. Secured by a mortgage dated March 1, 1899, executed jointly by the Hocking Valley Ry. Co. and the Buckeye Coal and Ry. Co. to the Central Trust Co. of New York, as trustee, and conveying the entire properties of both companies, whether now owned or here- after acquired, but subject to the liens of prior mortgages. The Buckeye Coal and Ry. Co. con- veyed all itri lands, aggregating about 10,000 acres in the counties of Hocking, Perry and Athens, in the State of Ohio. The mortgage provides that the Coal Co. shall pay the trustee two cents per ton on all coal mined from the lands of the Coal Co., to be used In purchasing bonds, If obtainable, at not over 105 p. c. and accrued interest, all bonds so purchased to be cancelled. All sums not so used within six months after their receipt by the trustee are to be returned to the Coal Co. The amount author- ized is $20,000,000, of which a sufficient amount is reserved for the retirement of prior liens, the balance being issuable for the acquisition of new property and for betterments and enlarge- ments, the property so acquired to be subject to the lien of the mortgage. The company re- serves the right to extend any of the prior lien bonds rather than redeeming them by use of 1st consol. mtge. bonds. There are deposited with the trustee, as additional security for the 1st consol. mtge. bonds, $249,500 capital stock of the Buckeye Coal and Ry. Co., $255,000 capital stock and $300,900 1st mtge. bonds of the Wellston and Jackson Belt Ry. Co., $200,000 capital stock of the Boston Coal, Dock and Wharf Co., $199,900 capital stock and $1,461,000 1st mtge. bonds of the Ohio Land and Ry. Co., and $102,850 preferred stock and $154,530 common stock of the Sunday Creek Coal Co. (the par value of the Sunday Creek Coal Co.'s stock was reduced In Oct., 1902, from $100 per share to $10 per share, which ac- counts for the decrease in the amounts deposited as compared with last year's statement). The se- curities thus deposited are in each case the whole or a large majority of the issue. The Ohio Land and Ry. Co. is the owner of about 10,960 acres of coal lands in Athens, Hocking and Perry coun- tl«a in Ohio. 386 POOR S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. 10. Car Trust Bond*. — Series A is the outstanding balance of an issue of $1,750,000 floated in 1894. The bonds are retired by action of a sinking fund, under which one-tenth of them may be drawn each year at par and interest. The date of final maturity is April 1, 1904. In- terest is at the rate of 6 p. c. per annum, payable on the 1st of Jan., April, July and Oct., at the Metropolitan Trust Co., New York, N. Y. The series of 1902 is dated May 1, 1902, principal and interest payable in semi-annual installments, covering a period of ten years, the date of final maturity being May 1, 1912. Interest is at the rate of 4| p. c. per annum, payable May 1 and Nov. 1, at the office of J. P. Morgan & Co., New York, N. Y. 11. Car Trust Obligations — These were as follows, as of June 30, 1902 : Pullman Co., for 1,050 box and 50 gondola cars — $317,808.80, due May 1, 1905, with interest at 5 p. c. per annum, payable monthly at the Merchants' Loan and Trust Co. Bank, Chicago, 111. ; American Car and Foundry Co., for 1,000 gondola cars — $372,675.81, due June 28, 1905, with interest at 5 p. c. per annum, payable monthly at the office of P. W. Huntington & Co., Columbus, O. ; Brooks Lo- comotive Works, for 8 locomotives — $19,614.39, due Dec. 10, 1902, with interest at 5 p. c. per annum, payable monthly at the Bank of Commerce National Association, Cleveland, O. The foregoing are all dated 1900. Pullman Co., dated 1901, for 1,500 gondola cars — $588,612.48, duo July 15, 1908, with interest at 5 p. c. per annum, payable monthly at the Merchants' Loan and Trust Co. Bank, Chicago, 111. The car trust obligations may be retired from the earnings of the company or from the proceeds of the sale of additional 1st consol. mtge. 4J p. c. bonds, as may be most desirable and practicable from time to time. lla. Car Trust Obligation*, aa of May 31, 19O3 — Of those dated 1900 there re- mained outstanding (1) $271,703.90 of the Pullman Co. notes and (2) $264,670.34 of the Ameri- can Car and Foundry Co. notes. Of the Pullman Co. notes dated 1901, there remained outstanding $565,325.58. The following obligations issued after June 30, 1902, were also outstanding : Burn- ham, Parry Williams & Co., dated 1902, for 5 locomotives, $37,741.02, due Nov. 17, 1904, with interest at 5 p. c. per annum, payable monthly at the office of J. P. Morgan & Co., New York, N. Y. ; American Locomotive Works, dated 1903, for 15 locomotives, $121,590.50, due Jan. 1, 1905, with interest at 5 p. c. per annum, payable monthly at the office of J. P. Morgan & Co., New York, N. Y. ; Simpson & Barnum, dated 1903, for 5 locomotives, $47,160, due May 1, 1905, with interest at 6 p. c. per annum, payable monthly at the office of J. P. Morgan & Co., New York, N. Y. 12. Guaranteed Bonus. — This company guarantees, both as to principal and interest, $2,750,000 1st mtge. 4 p. c. bonds of July 1, 1951, of the Kanawha and Hocking Coal and Coke Co., and $2,750,000 1st mtge. 5 p. c. bonds of Feb. 1, 1952, of the Continental Coal Co. 13. RAILROAD LEASED BY THE HOCKING VALLEY RY. Co. WEI.LSTON AND JACKSON BELT RY. — McArthur June, to Jackson, O., 17.5 m. ; total track (steel; 60 Ibs.), 24.8 m., of which 11.4 m. operated by electricity. HISTORY. — Chartered Jan. 22, 1895; opened March 1, 1896. Leased to the Hocking Valley Ry. Co., for 99 years from Jan. 1, 1900. ROLLING STOCK. — The company owns 5 mo- tor and 5 trail cars. INCOME ACCOUNT. — Rental year ending June 30, 1902, $24,564. Payments : Interest on bonds, $18,000; other charges, $6,564 — total, $24,- 564. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares) $255,000; funded debt (1st 6s of Aug. 1, 1915), $300,000; unfunded debt, $146,367 — total, representing cost of road, $701,367. The stock and the bonds are all ewned by the H. V. Ry. Co. CORPORATE OFFICERS. — N. Monsarrat, Pres. ; C. O. Hunter, Vice-Pros. ; Wm. N. Cott, Sec. & Treas. ; Louis P. Ecker, Aud. Office, Col- umbus, Ohio. C. B. Alexander.New York.N.Y. Robert Bacon... R. M. Gallaway. " W. F. Goodspeed.. Columbus, O. P.W.Huntington. . Columbus, O. N. Monsarrat — Thos. F. Ryan..New York, N.Y. Charles Steele... " 14. Board of Directors, The Hocking Valley Ry. Co., elected October 7, 1902. Myron T. Herrick.Cleveland, O. Ralph W. Hickox. Chas. G. Hickox. . James H. Hoyt " " R. S. Warner Columbus, O. NICHOLAS MONSARRAT, President Columbus, O. R. W. Hickox, 1st Vice-President Cleveland, 0. James H. Hoyt, 2d V ice-President " " Sec. £ Treas. — Wm. N. Cott Columbus, O. I Asst. Sec. d Asst. Treas. — A. H. Qillard, New York, N. Y. Auditor — Louis P. Ecker Columbus, O. PRINCIPAL OFFICE AND ADDRESS Columbus, O. ZANESVILLE AND WESTERN BY.— Thurston to Shawnee, O., 56 m.; Ful- tonham to Zanesville, O., 7.5 m. ; Muskingum to Cannelville, 0., 8 m. ; leased and operated jointly (Kanawha and Michigan Ry., 11 m. ; Cincinnati and Muskingum Valley RR., 2 m.; Zanesville Terminal Ry., 1.5 m.), 14.5 m. — total operated (owned, 71.5 m.), 86.0 miles. Gauge, 4 ft. 8^ in. Rail (steel), 40 to 70 Ibs. Rolling stock not reported. History.— Organized Oct. 16, 1902, and on Nov. 1, 1902, took over the property of the Columbus, Sandusky and Hocking RR. Co. lying east and south of Thurston, O., and about 3 miles of railroad lying east of the Cleveland, Akron and Columbus RR. crossing near Columbus, 0. The rest of the Columbus, Sandusky and Hocking RR. (see MANUAL for 1902, page 352) was conveyed to the Toledo, Walhonding Valley and Ohio RR. Co., a corporation controlled by the Pennsylvania Company, This company is affiliated in interest with the Hocking Valley Ry. Co. POOR'S MANUAL OP RAILROADS. 38? Operations, 2 months ending Dec. 31, 1902. Earnings (passenger, $8,327; freight, $70,611; other, $3,057), $81,995. Operating expenses, $69,420. Net earnings, $12,575; other receipts, $371 — total, $12,946. Payments: Interest on bonds $13,334; taxes, $1,400— total, $14,734. Deficit, $1,788. General Balance Sheet, Dec. 31, 1902.— Capital stock ($100 shares), $2,500,000; funded debt (1st 4s of Nov. 1, 1952), $2,000,000; current liabilities, $61,877; interest accrued, $13,333; taxes accrued, $1,400; C. S. and H. liquidation account, $155,530 — total, $4,732,140. Contra: Cost of road and equipment, $4,333,873; securities owned, $91,144; materials, etc., $35,651; cash and current assets, $269,684; profit and loss, $1,788— total, $4,732,140. Directors.— N. Monsarrat, F. B. Sheldon, W. N. Cott, Columbus, O. ; James H. Hoyt, G. Von der Steinen, Cleveland, O. OFFICERS : N. MONSABBAT, Pres., Columbus, O. ; James H. Hoyt, Vice-Pres., Cleveland, O.; J. M. Ferris, 2d Vice-Pres., Toledo, O.; W. N. Cott, Bee. & Treas.; L. P. Ecker, Aud., Columbus, O. GENERAL OFFICE, Columbus, O. TOLEDO AND OHIO CENTRAL RAILWAY COMPANY. (Controlled by Hocking Valley By. Co.) (For map of this road, see page 389.) INDEX TO THIS STATEMENT — REFEBENCES TO NUMBERS OF SECTIONS. Capital Stock 7 Car Trust Obligations 10 Directors and Officers 11 Earnings, Expenses, etc. ,1902. 4 Earnings, Exp., etc., 1896-1902. 6 Funded Debt, Details of 8 Oen. Bal. Sheet, June 30, 1902. 6 Gen. Bal. Sheet, 1896-1902 5 Guaranties 9 History 2 Income Acct, June 30, 1902. . 4 Income Acct., 1896-1902 5 Mileage Oper'd. June 30, 1902. 1 Operations and Inc.,1896-1902. 5 Rolling Stock 3 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 396.14 miles). Western Division: Toledo, 0., to Truro June., 0 172.91 miles. Bucyrus Division: Whitmore, O., to Thurston, 0 145.57 " St. Marys Division: Peoria, O., to St. Marys, 0 61.13 " ^ . n. . . ( Alum Creek, O., to Bremen, 0 4.20 " Cormng Division : | Nfiw Lexingion; o>> to Corning, O 12.33 " B. TBACKAGE RIGHTS (total, 40.22 miles). Lake Shore and Michigan Southern Ry. : In Toledo, O 0.63 " Cincinnati and Muskingum Valley RR.: Bremen to New Lexington, O. . . . 11.20 " Kanawha and Michigan Ry. : Corning to Chauncey, O 17.22 " Kanawha and Michigan Ry.: Glouster to Carrington, O 11.17 " Total mileage operated, June 30, 1902 436.36 miles. Sidings, etc., 167.11 miles. Gauge, 4 ft. Sy2 in. Rail (steel, 603.47 m.), 56, 60, and 70 Ibs. 25. History. — Organized, June 30, 1885, by the purchasers of the main line and Columbus Branch of the Ohio Central RR. Co. (see MANUAL for 1888, page 535, and MANUAL for 1898, page 805). The Columbus and Northwestern Ry. was purchased as of March 1, 1901, and is now operated as the St. Marys Division of this road (see MANUAL for 1901, page 1519). This company is controlled by the Hocking Valley Ry. Co (state- ment for which see) through ownership of more than 99 per cent, of the capital stock. 3. Rolling Stock, June 30, 1902. — Locomotives, 84. Cars — passenger, 20; com- bination, 11; parlor, 3; baggage, 3; freight (box, 722; flat, 139; stock, 7; coke, 78; gon- dola, 5,656; dump, 108), 6,710; service cars, 98 — total cars, 6,845. 4. General Income Account, year ending June 30, 1902. Earnings— Passenger $490,801 06 Coal Freight 1,462,211 30 General Freight 787,62336 Mail. Express and Other.... 137,023 50 Total ($6,594.69 per mile) '.....$2,877,65922 Expenses — Maint of Way and Struc. . . $394,748 39 Maintenance of Equipment. 585,788 66 Conducting Transportation . 1,129,440 97 General Expenses 62,126 00 Total ($4,977.79 per mile) $2,172,10302 Net earnings (24.52 p. c.), $705,556.20; other income, $17,589.09 — total, $723,145.29. Deductions: Interest on funded debt, $392,000; interest on car trust notes, $63,942.51; 388 POOR'S MANUAL OP RAILROADS CENTRAL NORTHERN GROUP. interest on floating debt, $8,478.43; on T. & O. C. Ext. Ry. bonds, $9,000; taxes, $106",- 373.93; deficit Imperial Coal Co., $3,745.35— total, $583,540.22. Surplus, $139,605.07; surplus forward, $101,844.34; additions during year, $23.50 — total surplus June 30, 1902, $241,472.91. 5. Statement of operations and capital account for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Mile* of RR. Operated 371.44 371.44 371.44 371.44 371.44 390.95 43636 l'aasenger T^ai" Miles 757,992 804,111 775,487 781,443 743,759 802,571 863585 Freight Train Miles. 1,050,415 1,034,809 992,942 993,934 1,143,429 1,191,372 1298458 Total Rev. Train Miles. ... . 1,808,407 1,838,920 1,768,429 1,775,377 1,887,188 1,993,943 2 162 043 Passengers Carried 708,454 636,467 622,781 615,945 722,135 751,151 785,380 Passenger Mileage 19,115,118 17,869,830 19,161,467 19,959,330 22,815,590 22,463,143 25,410,710 Freight (tons) Moved. Freight (ton) Miles 2,263,578 276,500,217 2,139,167 264,772,678 2,127,484 273,244,489 2,432,906 310,759,849 3,097,116 410,801,295 3,392,021 436,923,212 3,857,632 496,183,180 Earnings — Passeneer S 385,250 $ 349,101 354,828 S 367,191 $ 410,253 $ 436,050 1 490,801 Freight 1,443,463 1,266,360 1,275.499 1,362,416 1,811.042 1,980,180 2,249,835 Other 115,790 135,518 149,288 168,261 147,676 155,492 137,023 Gross Earnings. 1,944,503 1,750,979 1,779,615 1,897.868 2,368,971 2,571,722 2,877,659 Operating Expenses 1,326,658 1,285,275 1,245,696 1,296,453 1,536,069 1,851,140 2,172,103 Net Rfirninjrs ...... 617,845 465,704 533,919 601,415 832,902 720,582 705.556 Other Receipts 9,532 8,208 10,255 24,854 13,189 7,425 17,589 Net Income 627,377 473,912 544,174 626,269 846.091 728,007 723,145 Payments — Taxes 72,000 78,128 78,766 88,823 86,650 85,493 106374 Interest 397,562 389,347 385,770 409,134 397.886 426,718 473,421 185400 46350 Other.. 5,440 3745 Total Payments 654,962 513,825 464,536 497,957 484,536 517,651 583,540 Balance (+ or — ). ...... —27,585 —39,913 +79,638 +128,312 +361,555 +210,356 +139,605 Gross Turnings per Mile 5,235 04 4,714 03 4,791 12 5,109 49 6.377 80 6,578 14 6,594 69 Gross Expenses per Mile 3,571 66 3,460 25 3,353 69 3,490 34 4,135 44 4,734 98 4,977 79 Net Earnings per Mile 1,663 38 1,253 78 1.437 43 1,619 15 2,242 36 1,843 16 1.616 90 Expenses to Earnings 68.23 p.c. 73.40 p.c. 70.00 p.c. 68.31 p.c. 6484 p.c 71.98 p.c. 75.48 p.c. Aver, per Pass, per Mile 2.02 c. 1.95 c. 1.85 c. 1.84 c. 1.80 c. 1.94 c. 1.88 c. Aver, per Ton per Mile 0.52 e. 0.48c. 0.47 c. 0.44 c. 0.44c. 0.45c. 0.45c. fVimmnn Strwk , , $ 6,500,000 S 6,500,000 S 6,500,000 S 6,500,000 $ 6,500,000 1 6,500,000 * 6,500,000 Preferred Stock. 3,708,000 3,708,000 3,708,000 3,708,000 3,708.000 3,708,000 3,708,000 Bonded Debt 7,000,000 7,000,000 7,000,000 7,000,000 7,500,000 8,500,000 8,500,000 Car Trust Certificates. 363,206 261,641 186,775 383,152 259,772 1,091,249 1,196,904 Bills Payable 413240 565,044 722,619 735,110 711,880 572,305 Current Liabilities 543,614 585,480 455,971 427,231 740,435 683,988 910,680 Profit and Loss. . . . 588261 505,463 562,799 79,273 101844 241 473 Total Liabilities 19,116,311 19,125,628 19,136,164 18,832,766 18,708,207 21,296,961 21,629,362 CostofRoad 12 421,423 12,427,853 12,427,853 12,428,903 12,630,460 13,671,382 13 943,830 Equipment 2,657,260 2,657,260 2,680,710 2,439,510 1,815,435 2,923,023 3,110,545 Other Investments 3,400,978 3,399,971 3,404,229 3,401,138 3,235,286 3,609,658 3,306,087 Materials 107171 75696 92,776 83,939 186,573 154958 182,678 Cash and Cash Assets 529,479 564,848 530,596 479,276 739,925 937,940 1,086,222 Profit and Loss 100528 Total Assets 19,116,311 19,125,628 19,136,164 18,832,766 18,708,207 21,296.%! 21,629,362 6. General Balance Sheet, June 30, 1902. Cost of Road . ... . $13,943,829 84 Cost of Equipment 3,110,545 44 Securities Owned 2,626.58649 T.&O.C. Common Stock in Treasury. . 604,500 00 St. Marys Div. 1st mtge. bds. in Treas. 75,000 00 Materials and Supplies :.'. 182,678 01 Current Accounts 402,453 55 Bills Receivable 478,52506 Unexpired Insurance 4,955 77 Accrued Interest Receivable 68321 Cash 199,60457 Total Assets $21,629,36194 Common Stock ($100 shares) $6.500,00000 Preferred Stock ( $100 shares) 3,708,000 00 Funded Debt Outstanding 8,500,000 00 Car Trust Notes $1,345,45506 Less Unearned Interest. . 148,551 52—1,196,903 54 Special Equip, and Betterment Loan. 572,304 69 Current Liabilities Acer. Int. on Fund, and Guar. Debt. . Bills Receivable Discounted Accrued Taxes , Reserve Accounts , Profit and Loss , 522,657 30 84,425 63 182,311 22 40,388 61 80.898 04 241,472 91 Total Liabilities $21,629,36194 380 390 POOR S MANUAL OF RAILROADS- •KNTKAL NORTHERN GROUP. 7. Capital Stock. — The preferred stock has a prior right to surplus over fixed charges to the extent of 5 p. c., or such other rate as can be paid, and after the payment of 5 p. c. on common stock, is entitled to an additional preference of 2 p. c., both classes to share pro rata in any excess after payment of 7 p. c. on total stock. (See MANUAL, for 1896, page 916.) It is pro- vided that no mortgage except the first mortgage shall ever be put upon the property of the com- pany without the written assent of a majority in interest of the preferred stockholders. 8. Funded Debt. — The funded debt on June 30, 1902 — total, $8,500,000, as per general balance sheet — consisted of the following issues (additional particulars are in the Ready Refer- ence Bond List — see General Index) : $3,OOO,OOO 1st gold 5s of July 1, 1935. Secured on the lines from Toledo to Bremen, O., 159.98 m. ; New Lexington to Corning, O., 12.92 m. ; and Thurston to Alum Creek, 24.37 m. ; a total of 197.27 miles. Also on the equipment, franchises and property appertaining to those lines and not acquired by issue of junior mortgage bonds. The bonds carry voting power, one vote to every $100. It is provided that the holders of one-fourth of the bonds may require the trustee to have the property inspected at any time, and put in good condition if necessary. f2,5OO,OOO Western Division 1st gold 5s of Oct. 1, 1935. Secured as a second lien on the prop- erty covered by the first mortgage and as a first lien on the line from Toledo to Truro Junction, 139 miles, and on such additional property as they were issued to acquire. O. Guaranteed Bonds. — The company guarantees, both as to principal and interest, the $2,469,000 4 p. c. bonds of the Kanawha and Michigan Ry. Co., $2,750,000 1st gold 5s of July 1, 1951, of the Kanawha and Hocking Coal and Coke Co., and $2,750,000 1st gold 5s of Feb. 1, 1952, of the Continental Coal Co. 1O. Car Trust Obligation*. — The car trust obligations as of June 30, 1902, were in four issues — No. 7, $154,293.98; No. 8, $381,299.23; No. 9, $217,004.05; No. 10, $444,306.28, draw- ing interest at 5 p. c. per annum. Both interest and principal payable monthly — No. 7 till Sept. 7, 1905 ; No. 8 till Aug. 1, 1905 ; No. 9 till June 1, 1908, and No. 10 till Aug. 1, 1908. Series No. 7 covers 800 coal cars ; No. 8 covers 1,000 coal cars ; No. 9 covers 500 coal cars ; and No. 10 covers 1,000 coal cars. 11. Board of Directors, elected September 1, 1902. 92,OOO,OOO gen. gold 5s of June 1, 1936. Se- cured on the entire property owned by the company previous to the acquisition of the Col- umbus and Northwestern Ry. (St. Mary's Divi- sion), but subject in lien to the two prior mort- gages. f5OO,OOO St. Mary's Division 1st gold 4s of Feb. 1, 1951. Secured on the line from Peoria to St. Mary's, O., 61.13 miles ; also on the equip- ment, franchises and property appertaining to that line. Of the total issue as given bonds amounting to $75,000 are held in the treasury of the company. f5OO,OOO St. Mary's Division 1st preferred in- come gold 4s of Feb. 1, 1951. Secured as a second lien on the property covered by the St. Mary's Branch 1st mtge. bonds. •" L. Blair New York, N. Y. Charles Steele. . Geo.M. Gumming. N. Monsarrat Columbus, O. Decmtur Axtell.. . Richmond, Va. Stevenson Burke.. .Cleveland, O. R. W. Hickox Cleveland, O. Chas. G. Hickox. . James H. Hoyt.. . . DECATUR AXTELL, Chairman of the Board Richmond, Va. N. MONSARRAT, President Columbus, O. Charles G. Hickox, 1st V ice-President Cleveland, O. J. M. Ferris, 2d V ice-President and Secretary Toledo, O. t. to Pres. — James H. Hoyt Cleveland, O. | Treas. £ Asst. /Sec.— L. D. Kelley Toledo, O. Auditor — J. Landgraf, Jr Toledo, O. PRINCIPAL OFFICE AND ADDRESS Toledo, 0. KANAWHA AND MICHIGAN EAILWAY COMPANY. (Controlled by the Toledo and Ohio Central Ry.) 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 169.51 m.). Northern Division : Corning, O., to Hobson, 0 57.05 miles. South'n Div.: PL Pleasant,W.Va., to C. & O.Jc.,W.Va.(inc.Pt.Pleas.B'ge,2m.) 96.09 ' Buckingham Branch: Glouster, O., to Carrington, 0 11.17 Rmithers Creek Branch : Smithers to Stony and Raven, W. Va 5.20 B. TRACKAGE RIGHTS (total, 18.70 miles) : Hocking Valley Ry. : Pomeroy to Gallipolis, 0 17.40 Hocking Valley Ry.: Armitage to Athens, 0 1.30 " Total mileage, June 30, 1902 188.21 miles. Less Buckingham Branch, owned but not operated 11.17 Total mileage operated, June 30, 1902 177.04 miles. Sidings, 51.80 miles. Gauge, 4 ft. 8*/2 in. Rail (steel, 240.01 m.), 56 and 67 Ibs. POOR S MANUAL — KANAWHA AND MICHIGAN RY. CO. 391 2. History. — Chartered April 23, 1890, as successor to the Kanawha and Ohio Ry. Co. (See MANUAL for 1898, page 808.) The Buckingham Branch is leased to the Columbus, Sandusky and Hocking and the Toledo and Ohio Central Ry. Cos., and its operations are included in the statements for those companies. This company is con- trolled by the Toledo and Ohio Central Ry. Co. through ownership of stock. 3. Rolling Stock, June 30, 1902. — Locomotives, 31. — Cars — passenger, 11; com- bination, 4; baggage, 1; freight (box, 1,115; gondola, 2,955; dump, 50), 4,120; other, 41 — total cars, 4,177. 4. Operations, year ending June 30, 1902 (177.04 m.).— Train mileage— passen- ger, 295,395; freight, 481,545 — total, 776,940 miles. Passengers carried, 340,120; carried one mile, 7,420,802; average mile rate, 2.33 cents. Tons freight moved, 1,662,592; moved one mile, 191,937,896; average ton-mile rate, 0.461 cent. Earnings— Passenger $176,525 89 Coal Freight 490,61684 General Freight 398,112 10 Mail, Express and Other 31,104 16 Total ($6,192.72 per mile) $1,096,35899 Expenses — Maintenance Way and Struc. $233,421 11 Maintenance of Equipment... 144,32168 Conducting Transportation... 450,160 27 General Expenses 24,301 17 Total ($4,813.63 per mile) $852,20423 Net earnings (22.27 p. c.), $244,154.76; rental, Buckingham Branch, $6,800; other income, $348.33— total, $251,303.09. Payments: Interest accrued on funded debt (1st mtge. bonds, $98,760; car trusts, $14,446.51), $113,206.51; other interest, $27,587.65; taxes, $34,154.13— total, $174,948.29. Surplus, $76,354.80; surplus forward ($5,162.38, less uncollectible accounts written off, $8.40), $5,153.98— total surplus June 30, 1902, $81,508.78. 5. General Balance Sheet, June 30, 1902. Cost of Road '. $9,687,046 56 •Betterments to Road and Property. . 98,760 88 Cost of Equipment 2,206,515 67 Point Pleasant Bridge Bonds 2,000,000 00 Capital Stock in Treasury 1,000,00000 Material and Supplies 95,25158 Current Assets 33,54278 Unexpired Insurance 2,20064 Cash 20,43178 Total Assets $15,143,749 Capital Stock $10,000,00000 Funded Debt Outstand. (see Sec. 6).. 2,469,000 00 Car Trust Notes $1,634,81476 Less Unearned Interest. . . 16,906 10—1,617,908 66 Special Equip, and Betterment Loan. 575,000 Current Liabilities 332,303 19 Accrued Interest and Accrued Taxes. 42,990 69 Reserve Funds 25,03857 Profit and Loss 81,508 78 Total Liabilities $15,143,749 * The item of " Betterments to Road, etc.," represents extraordinary rail and tie renewals during the year to be charged to expenses in subsequent years. 6. Funded Debt. — The funded debt consists of 1st gold 4s of April 1, 1990, secured upon all of the property, rights and franchises of the company, including the Point Pleasant Bridge, but not including the Raleigh County Coal Lands. The bonds are guaranteed by the Toledo and Ohio Central Ry. Co., both as to principal and interest, the guaranty being endorsed on each bond. Additional bonds may be issued for extensions and branches, at the rate of $15,000 per mile. 7. Car Trust Obligations. — The car trust obligations are in three series, bearing in- terest at the rate of 5 p. c. per annum — Series 1, $94,448.48, balance of $189,810 issued Nov. 7, 1899, principal and interest payable monthly till 1904 ; series 2, $148,460.18, balance of $248,640 issued May 1, 1900, principal and interest payable monthly for five years ; series 3, $1,375,000 Issued May 1, 1902, principal and interest payable semi-annually for ten years. Series No. 1 covers 350 gondola cars and 50 side dump cars, No. 2 covers 777 box cars, and No. 3 covers 2,500 gondola cars. 8. Directors (elected June 5, 1902).— Charles Steele, George M. Gumming, New York, N. Y.; Charles H. Roberts, Oakes, N. Y; Stevenson Burke, Charles G. Hickox, R. W. Hickox, James H. Hoyt, Cleveland, O. ; N. Monsarrat, Columbus, O. ; Decatur Axtell, Richmond, Va. DECATUR AXTELL, Chairman of the Board Richmond, Va. N. MONSARRAT, President - Columbus, 0. R. W. Hickox, 1st V 'ice-President Cleveland, 0. J. M. FERRIS, 2d V ice-President and Secretary Toledo, 0. A«»t. to Pres. — F. B. Sheldon Columbus, O. ' Treas. & Asst. Sec. — L. D. Kelley Toledo, O. Auditor — John Landgraf, Jr Toledo, O. PRINCIPAL OFFICE AND ADDRESS Toledo, O. 392 POOR S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. ILLINOIS CENTRAL RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Advances on Other RR.'s..3-12 Balance Sheets, 1896-1902 13 Capital Stock, Increase 7 Charter Tax 6 Construction Advances 3-12 Contracts and Agreements... 2 Cost of Road, etc., Details... 14 Directors and Officers 16 Dividends since 1855 6 Earnings, Expenses, etc 5 Funded Debt, Details 10 Gen. Bal. Sheet, June 30, 1902. 8 History 3 Income Acct, June 30, 1902... 5 Income Acct, 1896-1902 14 Income from Investments 5a Interest on Bonds, Details. . . 6b Leased Lines, Statements for. 15 Leased Line Stock 9 Lines of Road Operated la Mileage and Equip., 1836-1902. 13 Mileage Operated 1 Operations and In., 1896-1902. 13 Ownership of System 3 Payments in Detail 5b Rentals Paid, Details 5b Rolling Stock, June 30, 1902. . 4 Securities Owned, Details 11 Track, and Traffic Contracts. 2 1. Mileage Operated, June 30, 1902. Main Line: Chicago, 111., to Cairo, 111 364.73 miles. Omaha Division: Chicago, 111., to Council Bluffs, la 511.60 " A'etc Orleans Division: Cairo, 111., to New Orleans, La 547.79 " Louisville Division: Memphis, Tenn., to Louisville, Ky 398.12 " Other lines owned or leased, operated in the system 2,461.66 " Total length of lines operated, June 30, 1902 4,283.90 miles. 2d and additional main tracks, 535.25 m. ; sidings, etc., 1,369.98 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 50 to 100 Ibs.; average, 70.56 Ibs. la. Lines of Road Operated. — The following is a detailed statement of the lines comprised in the Illinois Central system on June 30, 1902: Illinois Central HR. and Roads Author- ized by Stockholders, Oct. 15, 19O2, to be Consolidated with Illinois Central RR. Illinois Central RR. : Miles. Centralia, 111., to Dubuque, la.... 364.73 Chicago Div., Chicago to Cairo, 111. 340.77—705.50 Litchfleld Div., Springfield to East St. Louis, 111 97.59 Evansville Div., Mattoon, 111., to Evansville, Ind 128.60 New Harmony Br., Stewartsville to New Harmony, Ind 6.33 Chicago, Madison and Northern RR. : Chicago, 111., to Madison, Wis 173.94 Red Oak, 111., to Dodgeville, Wis.. 57.36—231.30 The Kankakee and Southwestern RR. : Otto to Normal Junction, 111 79.46 Buckingham to Tracy, 111 10.00 Saxony to Minonk Junction, 111.... 41.80—131.26 Chicago and Springfield RR. : Oilman to Springfield, 111 111.47 St. Louis, Alton and Terre Haute RR. : East St. Louis to Belleville, 111.... 14.40 East Carondelet to Belleville, 111.. 17.30 Belleville to Eldorado, 111 106.60 Pinckneyville to Brookport, 111. . . 100.74—239.04 Chicago, Havana and Western RR. : Champaign to Havana, 111 100.58 White Heath to Decatur, 111 31.04—131.62 Rantoul RR. : Le Roy, 111., to West Lebanon, Ind. 74.43 The Mound City Ry. : Mounds to Mound City, 111 2.87 Chicago and Texas RR. : Johnson City to East Cape Girar- deau, 111 72.70 McClure to Gale, 111 6.00 Murphysboro to Texas June., 111... 1.00 — 78.70 Illinois and Indiana RR. : Efflngham, 111., to Switz City, Ind. 88.51 Total 2,027.22 Leased Lines t Miles. South Chicago RR. : Parkside to South Chicago, 111.... 4.76 Blue Island RR. : Kensington to Blue Island, 111 3.96 Peoria, Decatur and Mattoon RR. : Pekin to Mattoon, 111 102.76 Peoria and Pekin Union Ry. : Trackage, Pekin to Peoria, 111 12.97 Dubuque & Sioux City RR. : Dubuque to Sioux City, la 326.58 Onawa, la., to Sioux Falls, S. D. . 155.58 Cedar Rapids to Manchester, la.. 41.85 Mona June., la., to Lyle, Minn 75.97 Tara to Council Bluffs, la 131.02—731.00 Stacyville RR. : Near Lyle, Minn., to Stacyville, la. 7.93 Albert Lea & Southern RR. : Lyle to Glenville, Minn 18.59 Chic., St. L. & New Orleans RR. : Cairo, 111., to Canton, Miss 341.03 Canton, Miss., to New Orleans, La. 206.76 Memphis Div.,Gren. to Mem.,Tenn. 100.00 Durant to Kosciusko, Miss 17.20—664.99 Memphis, Tenn., to Louisville, Ky. 398.12 Owensboro to Horse Branch, Ky... 42.16 Evansville, Ind., to Hopkinsv., Ky. 128.94 Blackford to Dixon, Ky 18.40 Morganfleld to Uaiontown, Ky 7.50 Do Koven, Ky., to Ohio River 2.00—697.12 Hodgenville and Elizabethtown Ry. : Hodgenville to Elizabethtown, Ky. 11.10 Troy and Tiptonville RR. : Moffat to Troy, Tenn 4.60 Canton, Aberdeen & Nashville RR. : Aberdeen to Kosciusko, Miss 89.06 Canton, Aberdeen & Nashville RR. in Ala. : Winfleld to Brilliant, Ala 7.84 Total Leased Lines 2,256.68 Grand Total 4,283.90 2. Trackage and Traffic Contracts.— The branch of the Chicago, St. Louis and New Orleans RR. from Evansville to Hopkinsville includes 20.70 miles, from Princeton to Gracey, Ky., leased from the Louisville and Nashville RR. Co. at a POOR'S MANUAL — ILLINOIS CENTRAL RR. CO. 393 rental of $12,039.70 per annum. The tracks of the Kansas City, Memphis and Birming- ham RR. are used between Aberdeen, Miss., and Winfield, Ala., to connect the Canton, Aberdeen and Nashville RR. in Alabama with the Canton, Aberdeen and Nashville RR. The company has a contract with the Nashville, Chattanooga and St. Louis Ry. Co. for the interchange of freight and for the right of either company to run through passenger trains over the lines of the other without change. Under agreements with the Mobile and Ohio RR. Co., the single track railroads of that company and the Chicago, St. Louis and New Orleans RR. Co., which parallel each other from the Cairo Bridge southward for six miles, are used jointly by the two companies as a double track railroad, and the Mobile and Ohio RR. Co. has the right until 1930 to run its trains over the Cairo Bridge at a fixed minimum rent, with provision for increased rent as its use of the bridge grows. Entrance into Omaha, Neb., is secured under a contract with the Omaha Bridge and Terminal Ry. Co., which grants the use of that company's bridge over the Missouri River and of its terminals in Council Bluffs and in Omaha. The company also has the use of the new Union Passenger Station in Omaha, and of the tracks leading to it, under arrangements with the Union Pacific RR. Co. 3. History. — Chartered February 10, 1851; road opened throughout, 705.50 miles, Sept. 27, 1856. A record of progress of construction is in the MANUAL for 1889, page 440, and a sketch of the history of the company, from its organization to the close of the year 1896, is in the MANUAL for 1897, page 453 et seq. Later developments are recorded in sub- sequent editions of the MANUAL. Additional Mileage Acquired. — Until about three years ago the Illinois Central RR. Co. was vested with the direct title to no more of the system than the 705.50 miles first built. The Litchfield Division, formerly a part of the St. Louis, Peoria and Northern Ry., was purchased as of Oct. 1, 1900, and at about the same time the company ac- quired the ownership of the Indiana division of the former Peoria, Decatur and Evans- ville Ry., extending from State Line to Evansville with branch to New Harmony, to- gether 37.66 miles. The Evansville and Mattoon RR., from State Line to Mattoon, 111., 97.27 miles, which also was formerly a division of the Peoria, Decatur and Evansville Ry., was acquired by deed in or about Oct., 1901. At the close of the year ending June 30, 1902, by reason of these acquisitions, the Illinois Central RR. Co. held the direct ownership of 938.02 miles of road, as shown in Section la. The consideration paid for the Litchfield Division was $3,000,000 in 3 p. c. bonds secured by mortgage upon the property. The cost of it is included in cost of railroad and equipment as per general balance sheet. The cost of the line from Mattoon to Evansville and of the New Harmony Branch is not included in that item in the general balance sheet of June 30, 1902, but in the amount advanced on account of the Peoria Division as shown in Sec- tion 12. Further Acquisitions Authorized. — The rest of the system, although practically owned, is operated under leases from the several companies named in Section la. In order to simplify the organization by diminishing the number of subsidiary corporations, the acquisition of the following railroads was authorized at the annual meeting of the stockholders, held Oct. 15, 1902: Chicago, Madison and Northern RR., 231.30 miles; the Kankakee and Southwestern RR., 131.26 miles; Chicago and Springfield RR., 111.47 miles; St. Louis, Alton and Terre Haute RR., 239.04 miles; Chicago, Havana and West- ern RR., 131.62 miles; Rantoul RR., 74.43 miles; the Mound City Ry., 2.87 miles; Chicago and Texas RR., 78.70 miles; Illinois and Indiana RR., 88.51 miles; and Riverside and Harlem RR., 2.17 miles. The Riverside and Harlem RR. extends from Parkway to a connection with the Wisconsin Central RR. in Cook County, 111. It had not been put in operation on June 30, 1902. The cost of it to that date, advanced by the Illinois Central RR. Co., amounted to $204,329.43. Leased Lines. — As stated before, the Illinois Central RR. Co. practically owns the 394 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. entire system which it operates. Only in the Peoria, Decatur and Mattoon RR. Co., the Dubuque and Sioux City RR. Co., the Hodgenville and Elizabethtown Ry. Co. and the Troy and Tiptonville RR. Co. may there be said to be minority interests not controlled by the Illinois Central RR. Co. For this reason separate statements are not published in the MANUAL for any of the leased lines except the four named (see Sec. 15.) As the affairs of the subordinate companies are wholly controlled by the Illinois Central RR. Co., and as that company refuses to furnish any information other than that con- tained in its annual reports, recourse has been had to the reports of the several State Boards for much of the information given in Section 15. On December 3, 1901, the Kentucky Western Ry., from Blackford to Dixon, Ky., was bought for account of the Chicago, St. Louis and New Orleans RR. Co., the consid- eration being $300,000 in 3j^ per cent. Louisville Division bonds. On the 19th of the same month the Illinois Central RR. Co. exercised the option acquired with the lease of the Cecilia Branch from the Louisville and Nashville RR. Co., to purchase that branch for $1,000,000. Title was taken in the name of the Chicago, St. Louis and New Orleans RR. Co., and that company has issued its obligation to the Illinois Central RR. Co. for the money thus advanced. When certain bonds of the Louisville and Nashville RR. Co., which are secured by mortgage upon the Cecilia Branch, shall have been retired, and the mortgage securing them discharged, it is expected that the obligation of the Chicago, St. Louis and New Orleans RR. Co. will be liquidated by the issue of $1,112,000 Louis- ville Division bonds reserved for that purpose. Advances on Account of Other Railroads. — As shown in detail in Section 14, the amount advanced on account of other railroads down to June 30, 1902, was $6,814,088.75. The advances made during the year amounted to $193,199.48. These sums represent cash advanced, without including interest, or any allowance for the transportation of materials over the Illinois Central RR., or for the use of its equipment. The sum of $67,936.58 has been advanced on account of the construction of the St. Louis and Ohio River RR., designed to extend from Grantsburg to Golconda on the Ohio River, a dis- tance of about 18 miles. This railro'ad lies wholly in Illinois, and is estimated to cost $300,000. Advances amounting to $15,634.10 have also been made for the construction of the Mounds and Olive Branch EE. This line will be 20.5 miles long, extending from Mounds to Olive Branch, 111., and is estimated to cost $485,614. At Olive Branch con- nection will be made with the Chicago and Eastern Illinois RR., and a contract has been made for the joint use of 9 miles of that road, from Olive Branch to Thebes, 111. 4. Rolling Stock, June 30, 1902. — Locomotives, 947. Cars — passenger and chair, 400; cafe dining, 10; dining and parlor, 2; buffet library, 8; smoking, 64; baggage and smoking, 24; baggage, mail, and express, 141; postal (3 owned jointly), 38; old cars, 21; freight (box, 21,095; stock, 946; fruit, 975; refrigerator, 1,607; flat, 2,259; coal, 14,943), 41,825; service, 1,081— total, 43,614. 5. General Income Account, year ending June 30, 1902. Earnings —Passenger 18,020,648 67 Freight 27,710,782 42 Mail and Express 1,539,070 07 Miscellaneous 3,550,528 96 Total ($9,546.03 per mile) $40,821,03012 Expenses — Maint. Way and Struct $5,649,643 19 Maintenance of Equipment. 5,309,786 63 Conducting Transportation 14,442,267 53 General 846,42561 Total ($6,138.15 per mile) $26,248,12286 Net Earnings (35.70 p. c.) $14,572,90720) Net Receipts from Land Sales 16,697 24 Fnvestin'ts and Miscellaneous Profits 3,535,108 66 Surplus Dividend Fund, June 30, 1901. 1,088.486 92 Total $19,213,200 08 Taxes, Rents, Int. and Sink. Fund... $8,988,581 08 Dividends (6 p. c.) 4,752,00000 Betterments 4,340,172 08 Surplus Div. Fund, June 30, 1902. . . . 1,132,446 92 Total $19,213,200 5n. Income from Investments and Miscellaneous Profits. — Interest on money loaned (net) $401,890.75; interest on bonds owned, $2,716,456.96; dividends on shares owned, $130,399; interest on securities in surplus dividend fund, $43,960; sterling exchange, $8,683.58; premium on Illinois Central RR. Co. stock not subscribed for by stockholders, $225,022.87 ; pre- mium on bonds sold, $1,540; sundry profits, $7,155.50; interest on bonds pledged as security POOR'S MANUAL — ILLINOIS CENTRAL RR. CO. 395 for 4 p. c. gold bonds of 1952 (total amount, $817,500; included above in "Interest on bonds owned," $336,500; leaving net), $481,000; South Chicago RR. Co. 5s, $10,000; interest on note of Canton, Aberdeen and Nashville RR. Co. given for bonds cancelled, $12,500 — total, $4,038.- 608.66. Deduct fixed charges of subsidiary lines written off, $503,500. Balance as per Income account, $3,535,108.66. 5b. Details of payments from net income, year ending June 30, 1902: Proportion of Gross Receipts paid the State of Illinois as required by Charter $911,365 85 Other Taxes, Including Federal War Taxes 854,851 37 — $1,766,217 22 Interest on Funded Debt and Bonds drawn for Sinking Fund (total $3,065,365) : Sterling Sinking Fund 5 p. c. Bonds, $3,200,000 for 6 mos. and $3,150,000 for 6 mos 158,750 00 Sterling Bonds, extended at 4 p. c. interest, $2,500,000 for 12 mos 100,000 00 Sterling 5 p. c. bonds of 1905, $1,000,000 for 12 mos 50,000 00 Sterling 3 p. c. Bonds, $2,500,000 for 12 mos 75,000 00 Gold 4 p. c. Bonds, $1,500,000 for 12 mos 60,000 00 Gold 3 J p. c. Bonds, $2,499,000 for 12 mos 87,465 00 K. & S. W. RR. 5 p. c. Currency Bonds, $968,000 for 12 mos 48,400 00 Springfield Division 3J p. c. Gold Bonds, $2,000,000 for 12 mos 70,000 00 Western Lines 4 p. c. Gold Bonds, $5,425,000 for 12 mos 217,000 00 Cairo Bridge 4 p. c. Bonds, $3,000,000 for 12 mos 120,000 00 Gold 4 p. c. Bonds of 1952, $15,000,000 for 12 mos 600,000 00 Sterling 3i p. c. Bonds, $5,266,000 for 12 mos 184,310 00 Gold 4 p. c. Bonds of 1953, $25,000,000 for 12 mos 1,000,000 00 Omaha Division 3 p. c. Gold Bonds, $5,000,000 for 12 mos 150,000 00 Litchfleld Division 3 p. c. Gold Bonds, $3,148,000 for 12 mos 94,440 00 Sterling Sinking Fund Bonds of 1903 drawn for payment 50,000 00 Rent of C., St. L. & N. O. RR. (total, $2,421,089.70) : Interest on $80,000 2d Mtge. 6 p. c. Currency Bonds, for 12 mos 4,800 00 Interest on $16,555,000 Gold 5 p. c. Bonds, for 12 mos 827,750 00 Interest on $1,359,000 3J p. c. Gold Bonds, for 12 mos 47,565 00 Interest on $3,500,000 Memphis Div. 4 p. c. Gold Bonds, for 12 mos ' 140,000 00 Interest on $3,000,000 5 p. c. Gold Bridge Bonds, for 12 mos 150,000 00 Interest on $21,388,000 Louisville Div. 3J p. c. Gold Bonds, for 12 mos 748,580 00 Interest on $10,000,000 Leased Line Stock, 4 p. c. for 12 mos 400,000 00 For Account of Cairo Bridge Contingent Fund, Dec. 1, 1902 $15,000 00 Sinking Fund of Cairo Bridge Bonds, June 1, 1902 10,000 00 Trust Fund for C., St. L. & N. O. RR. Co., June 1, 1902 5,000 00— 30,000 00 Salaries of Trustees and Others 3,967 68 Rent for Cecilia Branch 48,548 39 Rent of line from Princeton to Gracey 12,039 70 Rent of D. & S. C. RR., including $46,733.60 Sink. Fd. on " West Lines" Bonds 872,16095 Less Interest on Western Lines, 4 p. c. Gold Bonds, as above $217.00000 Less Interest on Omaha Division 3 p. c. Gold Bonds, as above 150,000 00— 367,000 00 505,160 96 Rent of St. Louis Division (St. L., A. & T. H. RR) : Interest on Prior Lien Bonds, rent of Leased Lines, etc $66,132 24 Interest on $4,939,925 St. Louts Div. 3 p.c.Gold Bonds, for 12 mos. 148,197 76 Interest on $8,377,000 St. Louis Div.31 p.c. Gold Bonds, for 12 mos. 293,195 00 — 507,525 00 Rent of Peoria Division 76,73234 Dividend, March 1, 1902, 3 p. c. on $79,200,000 00 $2,376,000 00 Dividend, Aug. 30, 1902, 3 p. c. on $79,200,000 00 2,376,000 00 — 4,752,000 00 Set apart from Income to meet Interest Accrued to June 30, 1902, but payable at various dates later than July 1, 1902 — Ou Bonds of Illinois Central RR. Co $593,291 68 On Bonds of C., St. L. & N. O. RR. Co 61,038 12 — 654,329 80 Set apart from Income for Betterments 4,340,172 08 Total of Payments from Net Income $18,080,753 16 6. Charter Tax. — The charter of the company reserved to the State of Illinois, in lieu of taxes, 7 p. c. of the gross receipts of the 705.50 miles of road originally built thereunder. The other portions of the railroad, both in Illinois and elsewhere, are taxed in accordance with the laws of the Several States. The total amount paid to the State of Illinois under the provisions of the original charter, from the opening of the road, in 1855, to June 30, 1902, was $20,254,099.37. Out of the earnings of the company dur- ing the same period the stockholders received $106,998,861.59 in cash dividends. A statement showing the amount of capital stock outstanding at the close of each fiscal year from the time the original shares became fully paid, until June 30, 1897, together with the amounts and rates per cent, of dividends paid in every such year, is in the MANUAL for 1898, page 470. 7. Capital Stock — At a meeting of the stockholders, held Aug. 29, 1902, the capital stock was increased to $95,040,000, the $15,840,000 of additional stock being authorized to be issued on and after Dec. 2, 1902, and the proceeds used " for the purpose of faying for, constructing, completing, improving, or maintaining the lines of the Illinois Central RR. Co." 396 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. 8. General Balance Railroad and Equipment $164,852,19400 Real Estate 313,520 68 Stocks Owned 6,096,61545 Bonds Owned 40,128,51496 Materials and Supplies 2,034,27874 Cash and Current Assets 10,730,87994 Advances Acct. RRs. in Construct'n 6,814,088 75 Assets in Insurance Fund 1,338,777 23 Assets in Surplus Dividend Fund. . . 1,132,446 92 Assets in Pension Fund 250,00000 Total Assets $233,691,316 67 Sheet, June 30, 1902. Cap. Stk., I. C. RR. Co. ($100 shares) $79.200,000 00 Leas. Line Stk. of 111. Cent. RR. Co. 10,000,000 00 Funded Debt, II!. Central RR. Co.. 112,961,92500 Funded Debt, C., St. L. & N. O. RR. 16,234,000 00 Betterment Funds 363,39694 Current Liabilities 6,823,810 46 Dividend Payable Aug. 30, 1902 2,376,000 00 Insurance Fund 1,338,77723 Surplus Dividend Fund 1,132,44692 Pension Fund 250,00000 Profit and Loss Account 3,010,96012 Total Liabilities $233.691,316 67 1». Leaved Line Stock. — Secured by deposit in trust of an equal amount of stock of the Chicago, St. Louis and New Orleans RR. Co., in exchange for which it was issued. (See MANUAL for 1897, page 457). Dividends are guaranteed at the rate of 4 p. c. per annum, payable Jan. 1 and July 1, and in case of default for sixty days in any semi-annual payment the holders of the certificates will be entitled to the stock pledged. 1U. Funded Debt. — The funded debt of the Illinois Central RR. Co. and of the Chicago, St. Louis and New Orleans RR. Co. outstanding on June 30, 1902 — total, $129,195,925, as per gen- eral balance sheet — consisted of the several issues of bonds, listed in the following statement. Additional particulars respecting any issue will be found in the paragraph relating thereto sub- Joined to the statement; and the details of funded debt outstanding on or about Aug. 1, 1903, will be found in the Ready Reference Bond List — see General Index : Illinois Central Bonds ($112,961,925). $2,500,000 1st £ 4s of April 1, 1951 (ext.). 3,150,000 1st £ s. f. 5s of April 1, 1903. 1,000,000 1st £ 5s of Dec. 1, 1905. 2,500,000 1st £ 3s of Mar. 1, 1951. 1,500,000 1st gold 4s of Jan. 1, 1951. 2,499,000 1st gold 3*s of Jan. 1, 1951. 968,000 K. & S. W. RR. 1st 5s of Aug. 1, 1921. 2,000,000 Spring. Div. 1st gold 3$s of Jan. 1, 1961. 5,425,000 Western Lines gold 4s of Aug. 1, 1951. 4,939,925 St. L. Div. gold 3s of July 1, 1951. 8,377.000 St. Louis Div. gold 3is of July 1, 1951. 21,688,000 Louisville Div. gold 3Js of July 1, 1953. 3,000,000 Cairo Bridge gold 4s of Dec. 1. 1950. $15,000,000 Trust gold 4s of April 1, 1952. 5,266,000 Trust £ 3Js of July 1, 1950. 25,000,000 Trust gold 4s of Nov. 1, 1953. 5,000,000 Omaha Div. gold 3s of Aug. 1, 1951. 3,148,000 Litchfleld Div. gold 3s of Jan. 1, 1961. 1,000 Past Due 7 p. c. Bond of April 1, 1875. C., St. L. & N. 0. Bonds ($16,234.000). $80,000 2d 6s of Dec. 1, 1907. *16,555,000 Consol. gold 5s of June 15, 1951. 1,359,000 Consol. gold 3Js of June 15, 1951. 3,500,000 Memphis Div. gold 4s of Dec. 1, 1951. *3,000,000 Cairo Bridge gold 5s of Dec. 1, 1950. 6,000 Past Due Bonds, 1881 to 1886. • The Illinois Central RR. Co. owns $5,266,000 of the consol. mtge. bonds and the entire $3,000,000 of Cairo Bridge bonds, and has deposited them as security for two of its own issues. Amount of bonds outstanding, $16,234,000, as per general balance sheet. ADDITIONAL PARTICULARS RESPECTING ILLINOIS CENTRAL BONDS. First Mortgage Bonds. — The 4 p. c. sterling bonds of 1951 were extended from April 1, 1895. the interest being reduced from 6 p. c. to 4 p. c. and new coupons attached to the bonds. These bonds, the 5 p. c. sterling bonds of 1905, the sterling sinking fund 5s of 1903, the 3 p. c. sterling bonds of 1951, the 4 p. c. 1st mtge. bonds of 1951, and the 3J p. c. 1st mtge. bonds of 1951 are equally secured by a mortgage dated Aug. 10, 1874, covering the main line of railroad from Chicago to Cairo, and from Centralia to East Dubuque, 705.50 m., executed in favor of the United States Trust Co., as trustee. The amount authorized and issued under this mortgage is $15,000,000; retired by sinking fund and cancelled, $1,851,000. Kankakee and Southwestern RR. Bonds. — Secured on the Kankakee and Southwestern RR., 131.62 miles, as per mileage statement. The amount authorized is $1,000,000. Springfield Division Gold Bonds. — Secured on the Chicago and Springfield RR. 111.47 miles. Western Lines Gold Bonds. — The bonds outstanding are a lien on the main line of the Du- buque and Sioux City RR. from Dubuque to Iowa Falls, la., 142 miles, and on the branch from Cedar Falls to Lyle, 75.58 miles. The authorized issue is $10,000,000, but the remaining $4,575,000 of bonds can be issued only when the, line from Iowa Falls to Sioux City, la., 183 miles, is freed of all other liens and subjected to this mortgage. Secured upon that mileage there are outstanding $2,800,000 ($3,000,000 auth.) 1st mtge. 7 p. c. 48-yr. $500 and $1,000 bonds, issued by the old Iowa Falls and Sioux City RR. Co., which will mature Oct. 1, 1917. St. Louis Division and Terminal First Mortgage Gold Bonds. — These are authorized to the amount of $15,000,000, of which $5,000,000 bear 3 p. c. interest, and the remaining $10,000,000 bear 3| p. c. interest. Of the 3 p. c. bonds, $4,939,925 were outstanding on June 30, 1902, and $60,075 were reserved to take up outstanding shares of t*e St. Louis, Alton and Terre Haute RR. Co. Of the 31 p. c. bonds, sufficient are reserved for the retirement of outstanding underlying securities of the old companies. (See MANUAL for 1898, page 478.) Particulars as to the under- lying bonds yet outstanding are not obtainable, the company refusing to supply any information not contained in its annual reports. The bonds are issued under a Joint mortgage, dated Sept. 15, 1897, executed by the St. Louis, Alton and Terre Haute and the Illinois Central RR. Cos. to the United States Trust Co., of New York, and John A. Stewart, as trustees, covering the entire property now owned by the St. Louis, Alton and Terre Haute RR. Co. or which may be acquired hereafter by issue of any bonds secured by this mortgage, subject, however, to the liens of the underlying bonds referred to before. Louisville Division and Terminal First Mortgage Gold Bonds. — These are secured by a Joint mortgage, dated Sept. 15, 1897, executed by the Chicago, St. Louis and New Orleans and the Illinois Central RR. Cos., and covering, besides the railway comprising the Louisville Division, the ter- minals In Louisville and Memphis, and other lands used in connection with those railways. The amount authorized is $25,000,000, of which $1,112,000 are reserved for the purchase of the Cecilia Branch (see Sec, 3 under the caption "Leased Lines") and the remaining $2,200,000 for future acquisitions. Cairo Bridge Gold Bonds. — These Illinois Central bonds are a first lien on the Illinois ap- POOR'S MANUAL ILLINOIS CENTRAL RR. CO. 397 proacb to the Cairo bridge, and are additionally secured by deposit of an equal amount of C., St. L. & N. O. RR. 5 p. c. Cairo Bridge Bonds of 1890-1950. Trust Gold Fours of 1952. — Tbese are secured by deposit of 1st mtge. bonds of subsidiary lines as follows: Canton, Aberdeen and Nashville RR. (87.89 m.) 1st mtge. 5 p. c. 65-yr. bonds of June 1, 1952, $1,750,000 ; Yazoo and Mississippi Valley RR. (140.36 m.) 1st mtge. 5 p. c. 65-yr. bonds of June 1, 1952, $2,800,000; Chicago, Havana- and Western RR. (131.62 m.) 1st mtge. 5 p. c. 40-yr. bonds of Dec. 1, 1926, $2,500,000 ; Chicago, Madison and Northern RR. (225.11 m.) 1st mtge. 5 p. c. bonds of Dec. 1, 1935, $4,370,000; Rantoul RR. (74.43 m.) 1st mtge. 5 p. c. 40-yr. bonds of June 1, 1927, $1,000,000 ; Cherokee and Dakota RR. (155.58 m.) 1st mtge. 5 p. c. bonds of Dec. 1, 1935, $3,100,000; Cedar Rapids and Chicago RR. (41.85 m.) 1st mtge. 5 p. c. bonds of Dec. 1, 1935, $830,000 — total, $16,350,000; annual interest, $817,500. This interest is collected by the Illinois Central and credited to Income from Investments and Miscellaneous Profits. Trust Sterling Coupon Bonds. — The 3J p. c. sterling bonds of 1950 are secured under a trust agreement, dated July 21, 1886, between the railroad company and the United States Trust Co. of New York. They are part of an authorized issue of $5,352,000, interest not to exceed 4 p. c. The bonds are secured by deposit of an equal amount of 5 p. c. gold bonds of the C., St. L. & N. O. RR. Co., secured under its mortgage of March 15, 1881, which are to be delivered to the holders of the 3J p. c. bonds in case of default. In the trust agreement it is provided that no mortgage shall be made on the Illinois Central RR., or the C., St. L. & N. O. RR., until the 31 p. c. bonds are secured by a mortgage on those roads. Trust Gold Fours of 1953. — Secured by deposit of bonds of the Louisville, New Orleans and Texas Ry. (798 m.) as follows: $16,832,000 (entire issue) 1st gold 4s of Sept. 1, 1934; $9,104,000 (entire issue) 2d cumulative income 5s of Sept. 1, 1934; and $9,904,000 (out of $10,000,000) land grant non-cumulative income 6s of Sept. 1, 1934 — total, $35,840,000 (out of $35,936,000) ; annual interest, $1,722,720. Omaha Division First Mortgage Gold Bonds. — Secured on the Omaha Division of the Dubuque and Sioux City RR., from Tara to Council Bluffs, la., 131.02 miles. Litchfield Division First Mortgage Gold Bonds. — Secured on the line from Springfield to East St. Louis, 111., 97.59 miles. The amount authorized is $4,000,000, the unissued bonds being re- served for betterments, etc. ADDITIONAL PARTICULARS RESPECTING C., ST. L. & N. O. BONDS. Second Mortgage Bonds. — Secured on the line from East Cairo, Ky., to New Orleans, La., 547.30 m., and branch from Durant to Kosciusko, Miss., 18.86 miles. Consolidated Mortgage Gold Bonds. — Secured on the same road, but subject in lien to the 2d mtge. bonds. The authorized issue is $18,000,000, a sufficient amount being reserved to discharge prior liens. Interest is payable June 15 and Dec. 15, and is guaranteed by the Illinois Central RR. Co., the guaranty being endorsed upon each bond. Of the $16,555,000 5 p. c. bonds, $5,266,000 are owned by the Illinois Central RR. Co. and pledged to secure £1,053,200 of 31 p. c. sterling bonds of 1950, leaving only $11,239,000 actually outstanding in the hands of the public. Memphis Division Gold Bonds. — Secured on the line from Memphis, Tenn., to Grenada, Miss., 100.49 miles. The bonds are guaranteed by the Illinois Central RR. Co., by endorsement on each bond. Cairo Bridge Gold Bonds. — Secured on the Cairo Bridge and approaches, 2.27 miles. The bonds are all owned by the Illinois Central, and are pledged as security for that company's 4 p. c. Cairo Bridge Bonds. 11. STOCKS AND BONDS OWNED, AND BOOK VALUH OF SAME, JUNE 30, 1902. Stocks Owned— Par Value. Book Value. Illinois Central RR. Co. Stock and Scrip $50,032 50 $45,849 50 Chicago, St. Louis & New Orleans RR. Co .- 10,200 00 10,200 00 Dubuque & Sioux City RR. Co 9,939,100 00 5,966,759 95 Mississippi Valley Co 300,000 00 43,125 00 Chicago A Springfield RR. Co 25,000 00 25,000 00 St. Louis, Alton A Terre Haute RR. Co 10,000 00 5,625 00 Other Stocks 14,025 00 56 00 Totals $10,348,357 50 $6,096,615 45 Bonds Owned — Illinois Central Gold Fours of 1953 $71,000 00 $71.000 00 Illinois Central Gold, Omaha Division, Threes 2,750,000 00 2,613,913 21 Illinois Central Gold, Litchfield Division, Threes 131,000 00 132,700 00 Illinois Central Gold, Louisville Division, Three and a halfs 300,000 00 300,000 00 Mississippi Valley Co., Registered, Gold Fours of 1950 114,000 00 114,000 00 Yazoo A Mississippi Valley RR. Co. Gold, Improvement Fours of 1934, Registered 5,168,765 56 5,168,765 56 Mississippi Central Second Mortgage (past due) 60000 60000 Muhlenberg County, Kentucky, Refunding Fives of 1905 40,000 00 40,777 77 Iowa Falls & Sioux City RR. Co. First Mortgage Sevens of 1917 460,500 00 523,073 13 Other Bonds 3,000 00 2,269 56 Totals $9,038,865 56 $8,967,099 23 Bonds Pledged — Yaioo A Mississippi Valley RR. Co. First Mortgage Fives $2,800,000 00 $2.324,538 18 Cherokee A Dakota RR. Co., First Mortgage Fives $3, 100,000 00 Cedar Rapids & Chicago RR. Co. First Mortgage Fives 830,000 00— 3,930,000 00 3,930,000 00 Louisville, New Orleans A Texas Ry. First Mortgage Fours 16,832,000 00 Louisville, New Orleans A Texas Ry. Second Mortgage Fives 9, 104,000 00 Loukville, New Orleans & Texas Ry. Land Grant Income Bonds 9,904.000 00- 35.840,000 00 24.906,877 65 Totals. $51,608,865 56 $40,128,514 96 398 POOR S MANUAL OP RAILROADS CENTRAL NORTHERN GROUP. 1 2. ADVANCES ON ACCOUNT OF OTHER RAILROADS TO JUNK 30, 1902. Effingham District — Formerly St. Louis, Ind. & East. RR . . Canton, Aberdeen & Nashville RH. in Alabama 1902 $739,261 74 161,134 68 1901 $732,318 79 159 532 37 Increase. $6,942 95 1 602 21 Albert Lea & Southern RR • 389,197 94 371,168 16 18 029 78 Riverside i'>(p) ,,...,,.... 3,755,717 39,685 3,778,046 44,619 3,908,275 44,679 3,926,638 44,679 3,967,847 45,094 4,252,443 69,738 4,126,641 54,013 Other Receipts Net Income 3,795,402 326,453 2,210,255 480,784 (4) 749.520 3,822,665 330,317 2,230,713 466,712 (4) 749,520 3,952,954 408,099 2,235,625 484,977 (4) 749,520 70,000 4.733 8,474 14 6,116 25 2,357 89 72.25 p.c. 2.225 c. 3,971,317 426,693 2,229,975 484,884 (4) 749,520 75,326 4,919 9,352 80 6,983 69 2,368 61 74.67 p.c. 2.181 c. 4,012,941 467,206 2,219,908 485,162 (4) 749,520 84,402 6,743 10,014 27 7,736 16 2,278 11 76.28 p.c. 2,194 c. 0.592 c. 270.07 461 377 14,450 $ 18,738,000 19,101,000 3,093,098 7,239,598 4,322.181 508.133 2,271,250 559,502 (4) 749,520 210,000 23,776 11,153 90 8,588 70 2,565 20 77.00 p.c. 2.034 e. 0.618 c. 270.07 461 377 14,431 $ 18,738,000 21,101,000 3,074,489 7,263,374 4,180,654 549,062 2,043,995 476,951 (4) 749,520 Payments — Taxes Bond Int. Lease Rent. . . . Dividends Spec Ac'ts Balance, Surplus 28,390 8,415 65 6,122 80 2,292 85 72.83 p.c. 2.268 c. 45,403 8,263 35 5,982 90 2,280 45 72.42 p.c. 2,175c. 361,126 11.521 18 9,024 79 2,496 39 78.33 p.c. 2.091 c. 0.676 c. 270.07 461 381 13,959 18,738,000 21.275,000 3,567,213 7,624,500 Gross Earnings per Mile Operating Exp. per Mile. . . . Net Earnings per Mile Expenses to Earnings Av. Rate p. Pass. p. Mile . . . Av. Rate p. Ton p. Mile .... Miles of Road Owned / Locomotives* 0.636 c. 270.07 461 363 13,224 1 18,738,000 18,376,000 2,522,834 7,181,370 0.616 c. 270.07 461 363 13,234 I 18,738,000 19,026,000 2,481,861 7,226.773 0.597 c. 270.07 461 364 13,498 1 18,738.000 19,101,000 1,870,099 7,227,936 0.564 c. 270.07 461 364 14,383 $ 18,738,000 19,101,000 2,661,852 7,232,855 Passenger Train Cars* Freight Train Care* Capital Stock Funded Debtf Current Liabilities Profit and Loss Total Liabilities 46,818,204 42,490,130 670,696 1,661,358 1,996,020 47.472,634 43.239,151 670,786 1,393,220 2,169,477 46,937,035 43,253,590 670,878 961,898 2,050,669 47,733,707 43,255,805 670,878 1,093,625 2,713,399 48,171,696 43,215.312 763,004 1,497,178 2,696,202 50,176,863 44,924,755 1,018,634 1,355,232 2,878,242 51,204,713 45,968,659 1,187,373 1,823,825 2,224,856 Construction Account Investments Fuel and Supplies Cash and Other Assets Total Assets 46,818,204 47.472,634 46,937,035 47,733,707 48,171,696 50,176,863 51,204,713 •These figures include in each year the rolling stock of the Canada Southern RR. Co. tThese amounts include in 1895-1896, $8,376,000; in 1897, $9,026,000; in 1898-1900, $9,101,000; in 1901, $11,101,000, and in 1902, $11,275,000 of Michigan Central bonds secured by mortgages on subsidiary railroads. , 12. RAILROADS OWNED OB LEASED BY THE MICHIGAN CENTBAL RR. Co. BATTLE CREEK AND STLRGIS RY Battle Creek to Findlay, Mich, (operated by M. C. RR. Co.), 33.80 m. ; Pindlay to Sturgis (operated by the L. S. & M. S. Ry. Co.), 7.20 m. — total, 41 m. ; total track, 47.44 miles. Rail (steel. 41 m.), 60 Ibs. HISTORY. — Chartered Nov. 14, 1889 (see MAN- UAL for 1890). The stock is owned, part by the Michigan Central and part by the Lake Shore and Michigan Southern. FINANCIAL STATEMENT. — Capital stock ($1,000,000 aufh. ; $100 shares), $500,000; funded POOR'S MANUAL — NEW YORK CENTRAL SYSTEM. 419 debt (1st gold 3s of Dec. 1, 1989), $500,000 — total. $1,000,000. Interest on $421,000 of the bonds is paid by the M. C. RR. Co., and on the remaining $79,000 by the Lake Shore and Michigan Southern Ry. Co. CORPORATE OFFICERS. — H. B. Ledyard, Pres. : Henry Russell, Vice-Pres. ; A. J. Hurt, Sec. & Treas. Office, Detroit, Mich. BAY CITY AND BATTLE CREEK RY. — West Bay City to Midland, Mich., 18 m. ; total track, 27.84 miles. Rail (steel, 18 m.), 60 Ibs. HISTORY. — Chartered Nov. 14, 1889; road opened Dec. 27, 1889. Passed under control of the Michigan Central RR. Co., June 1, 1890, through ownership of stock. FINANCIAL STATEMENT. — Capital stock ($100 shares), $300,000; funded debt (1st gold 3s of Dec. 1, 1989), $250,000— total, $550,000. CORPORATE OFFICERS. — H. B. Ledyard, Pres. ; "Henry Russell, Vice-Pres. ; A. J. Burt, Sec. & Treas. Office, Detroit, Mich. DETROIT AND BAY CITY RR Detroit to Bay City, Mich., 109 m. ; Detroit Belt Line, 4.39 m. ; Caro June, to Owendale, 33.48 m. ; Den- mark June, to Saginaw, 16.75 m. ; Bay City Belt Line, 7.01 m. ; Bay City Water Street spur, 5.10 m. — total, 175.73 m. ; total track, 258.11 miles. HISTORY. — Reorganization, Feb. 26, 1881, of the D. & B. C. Ry. Co. (See MANUAL for 1899, page 168.) Leased to the M. C. RR. Co. The lessee issued $4,000,000 50-yr. 5 p. c. bonds, se- cured by a 1st mortgage on the Bay City prop- erty (see bond statement of M. C. RR. Co.). CORPORATE OFFICERS. — H. B. Ledyard, Pres. ; C. M. Depew, Vice-Pres. ; C. F. Cox, Treas., New York, N. Y. ; A. J. Burt, Sec., De- troit, Mich. DETROIT, DELRAY AND DEARBORN RR. — Delray to Dearborn, Mich., 4.84 m. ; total track, 6.34 miles. Rail (steel, 4.84 m.), 60 Ibs. HISTORY. — Chartered Sept. 19, 1895, and road opened same ye&r. It is a proprietary line of the Michigan Central RR. Co., which owns all of the stock of the company. FINANCIAL STATEMENT. — Capital stock paid in ($50,000 auth.), $3,500; floating debt, $46,- 914 — total, representing cost of road, etc., $50,414. CORPORATE OFFICERS. — H. B. Ledyard, Pres. ; Henry Russell, Vice-Pres. ; A. J. Burt, Sec. & Treas., Detroit, Mich. GRAND RIVER VALLEY RR. — Rives June., Mich., to Grand Rapids, Mich., 83.79 m. ; total track, 100.56 miles. HISTORY. — Chartered May 4, 1846; road opened through in the spring of 1870. Reorgan- ized under the general railroad law of Michigan, April 25, 1894. Leased to the Michigan Central RR. Co. (date of lease Aug. 15, 1870), for 999 years from April 25, 1894 ; rental, 5 p. c. on stock ($24,280). FINANCIAL STATEMENT. — Capital stock ($1,000,000 auth.; $100 shares), $491,200. This company has no bonded debt, but two issues of Michigan Central bonds, amounting to $1,500,000, are secured by 1st mortgage on this road. (See bond statement of M. C. RR. Co.). Cost of road, J2.SG7.054. CORPORATE OFFICERS. — Wm. H. Withing- ton, Pres. ; E. W. Barber, Sec. & Treas., Jack- son, Mich. Office, Jackson, Mich. JACKSON, LANSING AND SAGINAW RR. — Jackson, Mich., to the Straits of Macki- nac, Mich., 295.10 m. ; Grayling to Twin Lakes, 27.88 m. ; Pinconning Bay to Gladwin, Mich., in- cluding branches, 56.25 m. — total, 379.23 m. ; total track, 653.99 miles. HISTORY.— Organized Feb. 24, 1865, and bought the incomplete Amboy, Lansing and Traverse Bay RR., which had been opened between Owos- so and Lansing in 1863. Leased Sept. 1, 1871, to M. C. RR. Co., to which it transferred its land grant. During 1901 the Saginaw Bay and North- western RR., 62.31 miles, was merged into this road. Rental in 1902, $70,750 «9^^CI-A,L STATEMENT.— Capital stock, &2,000,000. The consol. mtge. 5 p. c. bonds were retired at maturity, Sept. 1, 1901, and $2,000000 3i p. c. 50-yr. gold bonds of the M. C. RR. Co., secured on this property, were issued in place of them. CORPORATE OFFICERS. — Henry B. Ledyard, Pres. ; A. J. Burt, Sec., Detroit, Mich. ; Wm. M. Thompson, Treas., Jackson, Mich. Office, De- troit, Mich. JOL1ET AND NORTHERN INDIANA RR. — Lake, Ind., to Jollet, 111., 45 miles. Leased In perpetuity from Sept. 7, 1854 (date of comple- tion), to the M. C. RR. Co., which owns nearly all of its stock; annual rental; $71,000 (reduced from $89,000 as from Jan. 10, 1902). Dividends. $15,000; interest. $56,000. FINANCIAL STATEMENT. — Capital stock. $300,000 ; funded debt. 1st 7s of July 10, 1907, $800,- 000 — total (representing cost of road, etc.), $1,- 100,000. CORPORATE OFFICERS. — H. B. Ledyard, Vice-Pres. ; E. D. Worcester, Sec. ; C. F. Cox, Treas., New York, N. Y. KALAMAZOO AND SOUTH HAVEN RR. — Kalamazoo to South Haven, Mich., 39.50 m. ; total track, 46.28 miles. Rail (steel, 39.50 m.), 65 Ibs. HISTORY. — Chartered April 15, 1869; road opened Jan. 2, 1871. Leased to M. C. RR. Co. ; rental (interest on bonds), $35,000. FINANCIAL STATEMENT. — Capital stock, $325,400. Cost of road, $1,025,400. This company has no funded debt, but its property is covered by $700,000 bonds of the Michigan Central RR. Co. CORPORATE OFFICERS. — Ashley Pond. Pres. ; A. J. Burt, Sec. & Treas., Detroit, Mich. MICHIGAN AIR - LINE RR Jackson, Mich., to South Bend., Ind., 115.16 m. ; total track, 156.26 miles. Rail (steel, 115.16 m.), 85 Ibs. HISTORY. — Articles for western section filed Aug. 25, 1868, and Oct. 11, 1870 ; consolidated with St. Joseph Valley RR. Co., Oct. 11, 1870. Dates of charters, July 14, 1868, March 19, 1870 ; date of opening, Jan., 1871. Road completed In Feb., 1871, and leased from that date to the M. C. RR. Co. at a rental equal to the Interest accruing on the bonds issued. FINANCIAL STATEMENT. — Capital stock paid in ($1,000,000 auth.), $378,062.50. This com- pany has no funded debt, but its property Is mortgaged to secure $2,600,000 bonds of the Mich- igan Central RR. Co. CORPORATE OFFICERS. — H. B. Ledyard, Pres. ; A. J. Hurt, Sec. & Treas., Detroit, Mich. TERMINAL RR — Chappell to Union Stock Yards, Chicago, 10.16 m. ; State Line to Grasselll, 5.18 m. — total, 15.34 miles. Rail (steel). 70 Ibs. HISTORY. — Chartered April 16, 1896; road completed same year. Leased in perpetuity to the M. C. RR. Co. FINANCIAL STATEMENT. — Capital stock ($100 shares), $1,200,000. The company has no funded debt, but $725,000 bonds issued by the lessee are secured by first mortgage on tho property. (See bond statement of M. C RR. Co.) CORPORATE OFFICERS. — F. S. Winston, Pres. ; J. F. Meagher, Vice-Pres. ; James Miles, Sec. & Treas. Office, Chicago, 111. 13. CANADA SOUTHERN SYSTEM. — OPERATED BY THE MICHIGAN CENTRAL RR. Co. CANADA SOUTHERN RY. — Owned : Wind- sor, Ont., to Suspension Bridge, 226.18 m. ; St. Clair June, to Courtright, 62.63 ra. ; Niagara to Old Fort Erie, Ont., 30.60 m. ; Amherstburg to Essex Centre, Ont., 16.83 m. ; Oil City to Oil Springs, Ont., 5.50 m. ; Welland June, to Fort Erie. Ont., 17.50 m. — total, 359.24 miles. Con- trolled : Leamington and St. Clair Ry., 13.80 420 POOR S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. m. ; Sarnia, Chatham and Erie Ry., 7 m. ; Can- ada Southern Bridge, 3.66 m. ; Toledo, Canada Southern and Detroit Ry., 58.92 m. ; Michigan Midland and Canada RR., 14.68 m. — total, 98.06 miles. Total operated, 457.30 m. ; 2d track (owned, 149.34 m. ; controlled, 2.35 m.), 151.69 m. ; sidings (owned, 164.43 ra. ; leased, 1.% m. ; con- trolled, 100.70 m.), 267.09 m. — total track, 862.02 miles. Rail (steel), 60 Ibs. This mileage does not include 15 miles of the London and Port Stan- ley Ry. (from St. Thomas to London), over which the company has trackage rights. HISTORY. — Chartered in Canada, Feb. 28, 1868; entire line opened Nov. 15, 1873. The Erie and Niagara Ry. was absorbed in July, 1893. The agreement under which this company's sys- tem has been operated since Jan. 1, 1883, by the Michigan Central RR. Co. (see Manual for 1902, page 391) will expire by limitation on Jan. 1, 1904. A new agreement has been made whereby this company leases its property to the Michigan Central RR. Co., for the term of 999 years, the lessee to pay as 'rental dividends at the rate of 2i p. c. per annum until Jan. 1, 1910, and at the rate of 3 p. c. per annum thereafter, besides assuming all obligations of this company. The Canada Southern Ry. Co. will issue gen. mtge. bonds to a maximum of $40,000,000, of which $20,- 000,000 are to be used to retire the existing bonds at maturity, and $20,000,000 are to be issued from time to time to pay for additions and better- ments. INCOME ACCOUNT, Dec. 31, 1902. — Proportion of net earnings, $310,167.50 ;other income, $1,243.18 ; balance from 1901, $14,316.19 — total, $325,726.87. Contra: Paid dividends (No. 35, Aug. 1, 1902, 1 p. c. ; No. 36, Feb. 1, 1903, 1 p. c.), $300,000. Sur- plus, $25,726.87. GENERAL BALANCE SHEET, Dec. 31, 1902. — Capital stock. $15.000,000; funded debt, $20,002,- 131.47; dividends payable Feb. 1, 1903, $150,000; dividends unclaimed, $448.25 ; accounts payable, $879.98 ; income account, $25,726.87 — total, $35,179,- 186.57. Contra : Construction, etc., $28,983,987.95 ; securities owned (see below), $5,973,335; other investments, $11,100 ; accounts receivable, $30,- RAILROADS OWNED OB LEASED BY Canada Southern Bridge. — Slocum June. to Stony Island, 3.66 m. ; total track ( steel ; 56 Ibs.), 5.21 miles. Organized Aug. 20, 1873; opened Sept., 1873. Operated in connection with the Canada South- ern (which owns all its stocks and bonds) by the Michigan Central RR. Co. Capital stock, $450,000 ; funded debt, 1st 7s of Feb. 1, 1904, $1,000,000 — total, $1,450,000. H. B. Ledyard, Pres., Detroit, Mich. ; C. F. Cox, Vice-Pres. & Treas., New York, N. Y. ; N. Kingsmill, Sec., Toronto, Ont. Leamington and St. Clalr Ry. — Comber to Leamington, Ont., 13.80 m. ; total track ( steel ; 56 Ibs.). 23.77 miles. Chartered March 2, 1887 ; road opened through- out in Nov., 1888. Leased for 15 years from March 1, 1889, to the Canada Southern Ry. Co. Purchased by that company in June, 1895. Capital stock (all owned by C. S. Ry. Co.). $50,000 ; funded debt, 1st 4s of Oct. 1, 1945. $130,000 — total, $180,000. Principal and interest of bonds guaranteed, by endorsement, by the Canada So. Ry. Co. C. F. Cox, Pres. & Treas., New York, N. Y. ; N. Kingsmill, Pec.. Toronto, Ont. Michigan Midland and Canada RR — Lenox to St. Clair, Mich., 14.68 m. ; total track, 16.03 miles. Chartered Sept. 17, 1872. Road opened Dec. 4, 1874. Stock of this company is controlled and it:: bonds owned by the Canada Southern Ry. Co., and road operated by the Michigan Central RR. Co., as a part of the Canada Southern system of roads, under an agreement for joint operation made Dec. 12, 1882, between the Michigan Central and Canada Southern RR. Cos. 361.63 : due from lessee, $159,778.40 ; cash and cash assets, $20,623.54— total, $35,179,186.67. FUNDED DEBT, Dec. 31, 1902: $14,000,000 1st 5s of Jan. 1, 1908; $6,000,000 2d 5s of March 1, 1913; and $2,131.47 old 2d mtge. bonds. Interest on 1st mtge. bonds was guaranteed by the New York Central and Hudson River RR. Co. for the first 20 years. The 1st mtge. bonds are secured upon the main line and branches owned, 328.64 miles, and upon the proprietary interest in the Canada Southern Bridge. The 2d mtge. bonds are secured on tha Canada Southern Ry. and undertaking, and all its equipment, appurten- ances and property of every kind, as well as upon its proprietary interests in the Toledo, Canada Southern and Detroit Ry. Co. and the Michigan Midland and Canada RR. Co., and upon any and all branch lines to be constructed or acquired, and the bridge over the Niagara River, subject only to the 1st mtge. of $14,000,000. The bonds are issued in accordance with section 5 of the first part of an agreement dated Dec. 12, 1832, between the Canada Southern Ry. Co. and the Michigan Central RR. Co., which pro- vides for certain new lines, improvements, etc. STOCKS AND BONDS OWNED. — Stocks: Canada Southern Bridge Co., $450,000 ; Toledo, Canada Southern and Detroit Ry. Co., $1,547.- 662.50; Michigan Midland and Canada RR. Co., $291,31)0 ; Sarnia, Chatham and Erie Ry. Co., $33,000; Niagara River Bridge Co., $700,000; Leamington and St. Clair Ry. Co., $50,000 — total, $3,071,962.50. First mtge. bonds : Canada South- ern Bridge Co., $1,000,000 ; Toledo, Canada South- ern and Detroit Ry. Co., $1,511,737.50; Michigan Midland and Canada RR. Co., $323,635 ; Sarnia Chatham and Erie Ry. Co., $66,000 — total, $2,901,- 372.50. DIRECTORS.— Wm. K. Vanderbilt, Frederick W. Vanderbilt, Samuel F. Barger, Edward A. Wickes, Chauncey M. Depew, Joseph E. Brown, Charles F. Cox, New York, N. Y. ; Henry B. Ledyard, Detroit, Mich. ; Nicol Kingsmill, To- ronto, Ont. Officers : Charles F. Cox, Pres. & Treas. ; Edward A. Wickes, Vice-Pres., New York, N. Y. : Nicol Kingsmill, Sec., Toronto, Ont. General Office, St. Thomas, Ont. New York Of- fice, Grand Central Station. THE CANADA SOUTHERN Ry. Co. Capital stock ($100 shares), $300,000; funded debt (1st 7s of Jan 1, 1900), $323,635. Charles F. Cox, Pres. & Treas. ; E. A. Wickes, Vice-Pres., New York. N. Y. ; N. Kingsmill, Sec., Toronto, Ont. General Office, Detroit, Mich. Sarnia, Chatham and Brie Ry. — Petrolia June, to Petrolia, Ont., 7 m. ; total track, 8.42 miles. Built in 1877. Controlled by the Canada Southern Ry. Co. Capital stock ($33,000 held by Canada Southern Ry. Co.), $60,000; funded debt (1st mtge. 6 p. c. bonds; all held by Canada Southern Ry. Co.), $66,000 — total stock and bonds, $126,000. C. F. Cox, Pres. & Treas., New York, N. Y. ; N. Kingsmill, Sec. Toronto, Ont. Toledo, Canada Southern and Detroit Ry.— West Detroit, Mich., to Can. So. June., O., 55.87 m. ; Toledo Belt Belt Line, 3.05 m. — total, 58.92 m. ; total track, 147.68 miles. Consolidation, July 19, 1872, of the Detroit and State Line RR. Co. of Michigan and Junction Ry. Co. of Ohio. Stocks and bonds owned by the Canada Southern Ry. Co., and the road is operated by the Michigan Central RR. Co. as a part of the Canada Southern system of roads, under an agreement for joint operation, made Dec. 12, 1882, between the Michigan Central and Canada Southern RR. Cos. Capital stock ($2,000,000 auth. ; $100 shares), $1,547,662.50; funded debt (1st gold 7s of Jan. 1, 1906; int. .1. & J., in New York, $1,500,000; 1st mtge. bond scrip, $11,737.50), $1,511,737. Charles F. Cox, Pres. & Treas. ; E. A. Wickes, Vice-Pres., New York, N. Y. ; N. Kingsmill, Sec., Toronto, Ont. General Office, Detroit, Mich. POOR'S MANUAL — NEW YORK CENTRAL SYSTEM. 421 14. Board of Directors, Michigan Central RR. Co., elected May 7, 1903. CHAUNCEY M. DEPEW, Chairman of the Board New York, N. Y. H. B. Ledyard... Detroit, Mich. H.McK.Twombly. NewYork.N.Y. C. M. Depew " S. F. Barger..New York, N. Y. W. K. Vanderbilt " E. D. Worcester " Ashley Pond Detroit, Mich. P. W. Vanderbilt. New York.N.Y. J. Pierpont Morgan " H. B. LEDYABD, President Detroit, Mich. E. D. Worcester, V ice-President and Secretary New York, N. Y. Treasurer — Charles F. Cox New York, N. Y. | Auditor — A. Judson Burt Detroit, Mich. Grand Central Station, New York, N. Y. GENERAL OFFICES \ Foot of Third Street, Detroit, Mich. Monadnock Building, Chicago, 111. NEW YORK CENTRAL SYSTEM.— THE NEW YORK, CHICAGO AND ST. LOUIS RAILROAD COMPANY. T- r-o j n j ( Buffalo, N. Y., to Silver Creek, N. Y... ) ., 1. Lines Of Road Owned: \ Dunkirkj N. Y., to Indiana-Illinois Line. [494.72 miles. ( Chicago & Stale Line RR. : Ind. Line to Grand Cross'g, 111. . 9.96 ED: } Lake Shore & Mich. So. Ry.: Silver Creek, N.Y., to Dunkirk..7.84— 17.80 " ) Erie RR"' Tn Buffalo, N. Y 1.60 \ Lake Shore & Mich. So. Ry.: Grand Cross'g to Chicago,Ill. 8.90— 10.50 " Total length of lines operated, Dec. 31, 1902 523.02 miles. 2d track (owned, 6.24 m.; leased, 9.21 m.), 15.45 m.; sidings (owned, 174.92 m.; leased, 24.80 m.), 199.72 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 60 and 65 Ibs. 2. History. — Reorganization in Sept., 1887, after foreclosure sale, May 19, 1887. of the New York, Chicago and St. Louis Ry. Co. (See MANUAL for 1890, page 232.) The Lake Shore and Michigan Southern Ry. Co. owns $6,240,000 of the common stock, $2,503,- 000 of the 1st preferred stock, and $6,275,000 of the 2d preferred stock. The line forms a part of the N. Y. C. & H. R. RR. Co.'s system, but is operated as an independent organization. 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 166. Cars — passenger, 49; dining, 3: baggage, mail, and express, 19; freight (box, 6,572; flat, 793; stock, 45; gondola, 696; refrigerator, 141), 8,247; service, 127 — total, 8,445. For statement of equipment covered by car trusts, see Sec. 9. 4. General Income Account, year ending December 31, 1902. Earnings — Passenger $1,216,910 50 Freight 5,791,03250 Mail and Express 112,538 29 Miscellaneous 18,417 60 Total ($13,649.38 per mile) $7,138,898 Expenses— Maint. of Way and Struct. .$1,014,260 00 Maintenance of Equipment. 816,112 55 Conducting Transportation. 3,320,596 72 Rentals of Terminals 103,994 14 General Expenses 114,216 34 Total ($10,265.72 per mile) $5,369,17975 Net earnings (24.79 p. c.), $1,769,719.14; add interest, $40,125.88— total, $1,809,- 845.02. Payments: Interest on funded debt, $777,000; taxes, $250,073.04; principal and interest on equipment trusts, $185,649.93; dividends on 1st preferred stock (5 p. c.), $250,000; on 2d preferred stock (3 p. c.), $330,000— total, $1,792,722.97. Surplus, $17,122.05. Surplus forward, $346,901.28— total, $364,023.33. 6. General Balance Sheet, December 31, 1902. Cost of Road $46,086,157 92 Cost of Equipment 3,720,846 50 Materials and Supplies .-. . 266,26158 Other Assets 32,901 05 Bills Receivable 600,57200 Current Accounts and Balances 1,165,58387 Cash on Hand 1,074,79320 Total Assets $52,847,116 12 Common Stock ($100 shares) $14,000,000 00 Preferred Stock ($100 shares) 16,000,00000 Funded Debt Outstanding 19,425,000 00 Current Liabilities 2,295,973 24 Interest and Rentals Accrued 220,222 85 Sinking Fund Account 541,89670 Profit and Loss 364,02333 Total Liabilities $52,847,116 12 422 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. tt. Statement of operations, earnings, etc., for seven years ending Dec. 31 : 1896 1897 1898 1899 1900 1901 1902 Miles Operated. .. 52252 522.52 523.02 523.02 523.02 52302 52302 Passenger Train Miles 1,067,625 1,149,051 1,205,875 1.210,538 1,208,437 1,200,460 1 212 149 Freight Train Miles 3868099 3,879,739 4,146,358 4,274,807 4,332,930 4 367 553 3765091 Total Engine Mileage 6.0S8.514 6,144,861 6,541,140 6,701,973 6,707,932 6,824,922 6 190 892 Passengers Carried Passenger Mileage 4X2,343 45,753,614 461,889 54,707,985 493,622 62,144,040 563,758 68,807,094 577,784 66,548,451 662,250 83,048 712 620,767 73 310 390 Tons Freight Moved 3,148,250 3,313,549 3,816,686 4,275,908 4,069,359 4,623,086 4,512 120 Tonnage Mileage 890,772,263 904,102,727 1,046,143,799 1,220,486,233 1,210,172,317 1,339,545,971 1,219,576 176 Earnings — Passenger S 804,915 $ 876,977 1 962,9,66 $ 1,104,198 S 1,130,092 S 1,304,105 S 1 216 910 Freight 4,689,096 4,843,568 5,330,676 5,713,492 5,785,206 6,067,828 5 791 033 Other 93,755 94,672 97,779 102,295 108,060 113,551 130956 Gross Traffic Earnings Expenses and Taxes 5,587,766 4,699,151 5,815,217 4,816,319 6,391,421 5,444,523 6,919,985 5,712,451 7,023,358 5,686,764 7,485,484 5,962,626 7,138,899 5,619,253 Net Earnings 888,615 998,898 946,898 1,207,534 1,336,594 1,522,858 1,519,646 Other Receipts 9,643 7,299 5,956 11,351 26,721 32,291 40,126 Available Revenue 898,258 1,006,197 952,854 1,218,885 1,363,315 1,555,149 1,559 772 777,000 777,000 777,000 777,000 777,000 777,000 777,000 (2) 100,000 - *250,000 f470,000 $580,000 $580000 Car Trusts etc 171,172 121,541 117,391 113,242 109,592 159.217 185,650 Total Payments 948,172 998,541 894,391 1,140,242 1,356,592 1,516,217 1,542,650 balance (+ or — ) —49,914 +7,656 +58,463 +78,643 +6,723 +38,932 +17,122 Gross Earnings per Mile Operating Expenses per Mile 10,693 88 8,993 25 1,700 63 11,129 18 9,217 48 1,911 70 12,220 22 10,409 78 1,810 44 13,230 82 10,922 05 2,308 77 13,428 47 10,872 94 2,555 53 14,312 04 11,400 38 2,911 66 13,649 38 10,265 72 3.383 66 Expenses to Earnings Aver. Rate p. Pass. p. Mile. .. Aver. Rate p. Ton p. Mile. . . 84.10p.c. 1.76 c. 0.53 c. 82.82 p.c. 1.60 c. 0.54 c. 85.19 p.c. 1.55 c. 0.51 c. 82.55 p.c. 1.60 c. 0.47 c. 80.97 p.c. 1.70 c. 0.48 c. 79.66 p.c. 1.57 c. 0.45 c. 78.71 p.c. 1.66 c. 0.48 c. *5 p. c. on 1st preferred stock. t5 p. c. on 1st preferred stock, 2 p. c. on 2d preferred stock. +5 p. c. on 1st preferred stock, 3 p. c. on 2d preferred stock. 7. Capital Stock. — Preferred stock consists of $5,000,000 first preferred, and $11,000,000 second preferred. It is entitled to 5 p. c. non-cumulative, in the order of priority, ahead of common. Including the dividend payable March 1, 1902, nine payments have been made on 1st preferred stock, and two on 2d preferred stock. (See General Index, for Table of Dividends Paid by Railroad Companies.) 8. Funded Debt. — The funded debt consists of 1st 4s of Oct. 1, 1937, secured on the entire property of the company. A sinking fund of $100,000 per annum is provided, when net earnings are $900,000 or upwards, if bonds can be purchased at or below 102 ; if not, the sinking fund lapses for that year. The original issue of bonds was $20,000,000, and it has been reduced to present amount by sinking fund purchases. 9. Equipment Trust Obligations. — A trust was created in Feb., 1896, to the amount of $350,000, payable at the rate of $23,000 yearly on Feb. 15, 1897 to 1906, and $24,000 yearly on Feb. 15, 1907 to 1911, and one for $400,000 was created in Dec., 1900, which is payable at the rate of $20,000 each, June 30, and Dec. 31, to and including 1910. As of Dec. 31, 1902, the equipment covered by equipment trusts consisted of 23 locomotives, 1,784 box cars and 500 coal cars. 1O. RAILROAD LEASED BY THE N. Y., C. & ST. L. RR. Co. Chicago and State Line RR. — Ind. State Line to Grand Crossing, 111., 9.96 miles. Leased Sept. 20, 1887, to the N. Y., C. & St. L. RR. Co., at a rental of $100 per annum. Capital stock, 11,500,000; profit and loss, $47 — total, $1,500,047. Contra : Cost of road, etc., $1,500,000 ; other as- sets, $47 — total, $1,500,047. I. L. Lockwood, Pres.. Chicago, 111. ; H. V. Fountain, Sec. ; H. Ham- mersley, Treas., Cleveland, O. Office, Chicago, 111. 11. Board of Directors, New York, Chicago and St. Louis RR. Co., elected May 6, 1903. CHAUNCEY M. DB;PEW, Chairman of the Board New York, N. Y. W.K.Vanderbilt. New York.N.Y. W. E. Roosevelt F.W.Vanderbilt, H.McK.Twombly F. P. 01cott....New York, N. Y. J.M.Schoonmaker. Pittsb'r'h.Pa. R. W. Hickox Cleveland, O. J. P. Morgan.. New York, N. Y. C. M, Depew..New York, N. Y. W. H. Newman " Wm. H. Canniff... Cleveland, O. J. S. Kennedy, New York, N. Y. Charles F. Cox New York, N. Y. WM. H. CANNIFF, President Cleveland, 0. Sec. & Treas. — Charles F. Cox. .New York, N. Y. Avditor — Henry V. Fountain Cleveland, 0. PRINCIPAL OFFICE AND ADDRESS Cleveland, O. POOR'S MAN DAL OF RAILROADS. 423 NEW YORK CENTRAL SYSTEM — Railroads controlled by the Lake Shore and Michigan Southern Ry. Co. and the Michigan Central RR. Co. through ownership of their capital stocks. DETROIT, TOLEDO AND MILWAUKEE RR.— Dundee to Allegan, Mich., 133.16 m.; total track (steel, 140.66 m.), 150.70 miles. Gauge, 4 ft. 8y2 in. Rail, 52 Iba. Or- ganized July 1, 1897, to take title to the Michigan Division of the Cincinnati, Jackson and Mackinaw Ry. (see MANUAL for 1897, page 87). The road was operated under lease (ef- fective Feb. 1, 1899) by the Cincinnati Northern RR. Co. until Jan. 1, 1902, when it passed into the control of the Lake Shore and Michigan Southern Ry. Co. and the Michigan Cen- tral RR. Co. Locomotives, 9. Cars — passenger, 5 ; baggage, mail and express, 3 ; freight (box, 59; stock, 6; flat, 47; coal, 16), 128; service, 8 — total, 144. Capital stock ($100 shares, full paid), $1,500,000. The stock is owned one-half by the Lake Shore and Michi- gan Southern Ry. Co. and one-half by the Michigan Central RR. Co. Directors.— Wm. H. Newman, Wm. C. Brown, E. D. Worcester, Charles F. Cox, New York, N. Y.; P. S. Blodgett, Cleveland, O.; Henry B. Ledyard, Henry Russel, Detroit, Mich. OFFICERS: WM. H. NEWMAN, Pres.; W. C. Brown, Vice-Pres.; E. D. Worcester, Sec. & Treas., New York, N. Y. PRINCIPAL OFFICE, Tecumseh, Mich. Executive Office, Grand Central Station, New York, N. Y. LAKE ERIE, ALLIANCE AND WHEELING RR Phalanx to Bergholz, O., 61 m.; total track (steel; 65 and 70 Ibs.), 67.40 miles. Gauge, 4 ft. 8y2 in. Chartered Jan. 25, 1901, and acquired the Ohio River and Lake Erie RR. and the Alliance Northern RR., the two forming a line from Phalanx to Bergholz, O., 60.8 miles. The acquired cor- porations were fully merged into this company in July, 1901. An extension from Berg- holz to Dillonvale, O., 27 miles, is under construction, and 22 miles of it, from Bergholz to Piney Fork, is in operation. This company is operated in connection with the Lake Erie, Alliance and Wheeling Coal Co., and both of them are controlled by the Lake Shore and Michigan Southern Ry. Co., through ownership of their entire capital stocks. Locomo- tives, 10. Cars — passenger, 3; combination, 1; freight (flat, 108; coal, 300), 408 — total, 412. Operations) year ending June 30, 1902. — Trains run (passenger, 57,672; freight, 62,284; other, 9,456), 129J412 miles. Passengers carried, 32,833; carried one mile, 624,- 198. Tons freight moved, 257,160; ton-miles, 5,273,714. Earnings (passenger, $18,402; freight, $86,280; other, $6,841), $111,523. Operating expenses and taxes, $94,219. Net earnings, $17,304. Surplus forward, $22,597. Surplus June 30, 1902, $39,901. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $2,000,000; funded debt (1st 5s dated March 1, 1901), $1,799,000; current liabilities, $328,125; ad- vances made by syndicate, $913,350; profit and loss, $39,901— total, $5,080,376. Contra: Cost of road and equipment, $4,553,096; securities owned, $500,000; advanced for con- struction, Fairport and Phalanx Ry., $11,996; cash and current assets, $14,283; other assets, $1,001— total, $5,080,376. Directors (elected Jan. 28, 1903).— Wm. K. Vanderbilt, H. McK. Twombly, F. W. Vanderbilt, Chauncey M. Depew, Wm. C. Brown, E. D. Worcester, New York, N. Y.; George C. Greene, Wm. H. Newman, E. A. Handy, Cleveland, 0. OFFICERS : WM. H. NEW- MAN, Pres.; Wm. C. Brown, Vice-Pres., Cleveland, O.; E. D. Worcester, See. d Treas., New York, N. Y. PRINCIPAL OFFICE, Cleveland, 0. Executive and Financial Office, Grand Central Station, New York, N. Y. FERE MARQTJETTE RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock, Description of. 7 Collateral Trust Bonds 1 Directors and Officers 13 Earnings, Expenses, etc 4 Funded Debt, Description of. 8 Gen. Bal. Sheet, Dec. 31, 1902. 5 Gen. Bal. Sheet, 1900-1902... 10 History 1 Income Acct., Dec. 31, 1902... 4 Income Acct., 1900-1902 10 Investments 9 Land Department 11 Leased Line, Statement of... 12 Marine Department 6 Marq. & Bess. Dock & N. Co. 1 Mileage Oper'd Dec. 31, 1902. . 2 Operations and Inc., 1900-1902. 10 Rolling Stock 3 1. History. — Organized Nov. 1, 1899, for the purpose of consolidating the Flint and Pere Marquette RR. Co., the Detroit, Grand Rapids and Western RR. Co., and the Chicago and West Michigan Ry. Co., pursuant to the readjustment agreement dated May 20, 1899, an outline of which is in the MANUAL for 1899, or page 1413. The proper- ties of the companies named and of the Chicago and North Michigan RR. Co. were ac- (Continued on page 424.) 424 POOR S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. 2. Mileage Operated, Dec. 31, 1902.— A. LINES OWNED (total, 1,768.31 miles). Toledo Division: Between Alexis, O., and Saginaw, Mich 174.20 miles. Bay City Division: Between Saginaw and Bay City, Mich 25.66 " Ludington Division: Between Saginaw and Ludington, Mich 190.75 " Business Producing Branches 5.83 " Manistee Division: Between Merritt and Manistee, Mich 27.06 " Business Producing Branches 2.52 " Port Huron Division: Between Saginaw and Port Huron, Mich 124.39 " Port Austin Division: Between Port Huron and Grindstone City, Mich. . . 110.63 " Petoskey Division : Between Grand Rapids and Bay View, Mich 250.82 " Business Producing Branches 15.56 " Rio Rapids Division: Between Berry and Big Rapids, Mich 52.04 " Muskegon Division: Between Allegan and Pentwater, Mich 132.97 " Detroit Division : Between Plymouth and Delray, Mich 29.42 " Urand Rapids Division: Between Plymouth and Grand Rapids, Mich.... 137.18 " Saginaw Division: Between Elmdale and Paines, Mich 102.58 " Ionia Division: Between Grand Ledge and Big Rapids, Mich 166.77 " Business Producing Branches 1.59 " La Crosse Division : Between La Crosse, Ind., and New Buffalo, Mich .... 37.61 " Chicago Division: Between New Buffalo and Grand Rapids, Mich 114.94 " Saginaw, Tuscola and Huron RR. : Saginaw to Bad Axe, Mich 65.79 " B. LEASED LINE. Grand Rapids, KaVcaska and Southeastern RR. (see appended statement). 40.73 " O. TRACKAGE RIGHTS (total, 18.97 miles). Michigan Central RR.: Lansing to North Lansing, Mich 1.04 Michigan Central RR. : Mershon to Paines, Mich 6.70 Ann Arbor RR. : Toledo to Alexis, 0 6.63 " D. U. RR., D. d S. Co. : Delray to 18th St., Detroit 3.24 " Fort Street Union Depot : 18th St. to 3d St., Detroit 1.36 " D. OWNED JOINTLY WITH OTHERS. Detroit and Mackinac RR. Bridge, Bay City (P. M. RR. owns one-half) .... 0.26 •' Total length of lines operated, Dec. 31, 1902 1,828.27 miles. Sidings (owned, 586.05 m. ; leased, 7.25 m. ; trackage, 8.95 m.), 602.25 miles. Gauge, 4 ft. Sy2 in. quired by purchase under the laws of Michigan, subject to the mortgages and other liens existing on them at the time of the purchase, the company issuing in payment for such properties all of its common and preferred stock. The company also acquired the Grand Rapids, Belding and Saginaw RR., from Belding to Freeport, Mich., 28 miles, by pur- chase of its entire capital stock (see Sec. 8a). The Saginaw, Tuscola and Huron RR. has been formally merged into the Pere Marquette RR., its property having been conveyed by deed dated May 7, 1903. On January 20, 1903, the Pere Marquette Railroad Company purchased the Lake Erie and Detroit River Railway for $2,870,000, issuing in payment therefor its collateral trust 20-year bonds of Jan. 1, 1923, bearing interest at the rate of 3 per cent, for the first three years, and 4 per cent, thereafter. The bonds are secured by deposit of the entire capital stock of the L. E. & D. R. Ry. Co. They are subject to redemption on any interest day after sixty days' notice. The L. E. & D. R. Ry. extends from Port Huron and Windsor to St. Thomas, with branches to Port Stanley and Rond Eau, on Lake Erie, and to London, all in the Province of Ontario, and having a total of 230 miles. From St. Thomas to Buffalo the traffic of the company will be carried under an agreement with one of the existing lines. Under a contract entered into between this company and the Bessemer and Lake Erie RR. Co. (owned by the United States Steel Corporation), the Marquette and Bessemer Dock and Navigation Co. was organized under the laws of New Jersey in Feb., 1903, and has acquired all the property of the United States and Ontario Steam Navigation Co. The capital stock of the Marquette and Bessemer Dock and Navigation Co., consisting of 2,500 POOR S MANUAL — PERK MARQUETTE RR. CO. 425 shares, is owned equally by the Pere Marquette RR. Co. and the Bessemer and Lake Erie RR. Co. The property is operated under a contract for preferential interchange of busi- ness for a period of 99 years, the Pere Marquette RR. Co. using it for its Pittsburgh busi- ness, and the United States Steel Corporation for its trans-Lake Erie traffic and for pref- erential interchange with the Pere Marquette RR. The Pere Marquette RR. Co. is now extending its line to Porter, Ind., where connection will be made with the Elgin, Joliet and Eastern RR., also owned by the United States Steel Corporation, thus constituting with the Pere Marquette RR. and the Marquette and Bessemer fleet a through line connection between the two properties. The Marquette and Bessemer Dock and Navigation Co. has issued $400,000 of 4% per cent. 30-yr. gold bonds, which are guaranteed, jointly and sever- ally, by the Pere Marquette RR. Co. and the Bessemer and Lake Erie RR. Co. The outstanding capital stock and securities of the South Haven and Eastern RR. Co. and of the Milwaukee, Benton Harbor and Columbus Ry. Co. were purchased by this company on April 1, 1903. The companies named will be absorbed by this company as soon as proper action can be taken by the stockholders. 3. Boiling Stock, Dec. 31, 1902. — Locomotives, 266. Cars — passenger, 184; com- bination, 35; baggage, mail, and express, 61; freight (box, 5,166; refrigerator, 113; stock, 99; furniture, 396; flat, 2,519; coal, 1,115; charcoal, 103; miscellaneous, 131), 9,642; service, 134 — total, 10,056. Of this equipment 4 locomotives and 118 cars (5 passenger, 1 combination, 1 baggage, mail and express, 62 box, 3 refrigerator, 13 stock, 22 flat, 8 coal and 3 service) are narrow gauge. Twelve of the narrow gauge flat cars are leased and 17 locomotives, 900 box, 200 coal, 99 refrigerator, 100 flat, and 10 service cars are held under equipment trusts. 3a. Equipment Added, year ending June 30, 1903. — During the year ending June 30, 1903, there were added to the equipment as per Sections 3 and 4, 18 locomotives, 1,883 box cars, 45 coal cars, 1 steamer and 4 car ferries. 4. General Income Account, year ending December 31, 1902. Expenses— Maint. Way and Struct — $1.480,42242 Maintenance of Equipment.. 1,040,473 87 Conducting Transportation. 3,906,673 40 General Expenses 230,474 03 Earnings— Passenger $2,658,594 21 Freight 6,367,04890 Mail and Express 365,18632 Miscellaneous 14,30034 Marine Earnings 550,24530 Marine Expenses 462,82467 Total ($5,445.24 per mile) $9,955,37507 Total ($3,894.87 per mile) $7,120,86839 Net earnings (28.47 p. c.), $2,834,506.68. Payments: Taxes, $389,665.33; interest charges, $1,451,704.56; equipment bonds, $159,243.70; dividends on preferred stock, 2 p. c. each (No. 4, Aug. 15, 1902, $210,206; No. 5, Feb. 16, 1903, $210,210), $420,416; im- provement fund, $200,000— total, $2,621,029.59. Surplus, $213,477.09. The preceding statement shows that the result of operation for the year was as fol- lows: Gross earnings, $9,955,375.07; operating expenses and taxes, $7,510,533.72; net in- come, $2,444,841.35. Deduct interest on bonds, $1,451,704.56. Surplus, $993,136.79. 5. General Balance Sheet, December 31, 1902. Cost of Road and Equipment $57,061,567 67 Equipment : Equipment Companies. . 890,000 00 Investments 1,421,02743 Cash and Bills Receivable 780,47082 Material on Hand 550,023 85 Open Accounts 755,11393 Trustees' Equipment Companies 44,659 48 D. O. R. & W. RR. Pref. Stock Scrip. 271 60 Total Assets $61,503,134 78 Capital Stock — Common $16,000,000 00 Capital Stock — Preferred 12,000,00000 Funded Debt 31,173,337 43 Accrued Bond Interest 364,55516 Unp'd Coup., Vouch, and Pay Rolls. . 1,079,744 09 Unpaid Taxes 355,70353 Unpaid Dividends (inc. Feb. 16, 1903). 213,158 00 Sinking Funds Equipment Bonds — 44,65948 Bills Payable 58,50000 Profit and Loss 213,47709 Total Liabilities $61,503,13478 6. Marine Department. — The company operates steamship lines on Lake Michi- gan, from Ludington to Manitowoc, from Ludington to Milwaukee, from Muskegon to Milwaukee, and from Ottawa Beach to Milwaukee. The marine equipment consists of 2 steel car ferries of 30 cars capacity each, 1 wooden car ferry of 26 cars capacity, and 4 426 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. combination freight and passenger steamers. One of the steel car ferries was added to the fleet during the year 1901, and an order was placed for another for delivery in the fall of 1902. 7. Capital Stock — Preferred stock Is entitled to dividends at the rate of 4 p. c. per annum, non-cumulative, in priority to common stock. The amount of the preferred stock may be Increased at any time, and from time to time, with the consent of the holders of a majority of the preferred stock and of a majority of the common stock at the time outstanding. 8. Funded Debt — The funded debt outstanding on Dec. 31, 1902 — total, $31,173,337.43, as per general balance sheet — consisted of the several issues of bonds, listed In the following statement. Additional particulars respecting any issue will be found in the paragraph relating thereto subjoined to the statement ; and the details of funded debt outstanding on or about Aug. 1, 1903, will be found e Bond List — see General Index : in the Ready Reference $4,605,000 00 P.M.RR.consol.gold 4s of Jan. 1, 1951. 4,000,000 00 F. & P. M. 1st gold 6s of Oct. 1, 1920. 1,000,000 00 F. & P. M. 1st gold 4s of Oct. 1, 1920. 2,850.000 00 F.&P.M.lst con.gold 5s of May 1,1939. 2,500,000 00 F.&P.M.Pt.Hur.Div.gd.5s.of Apr.1,1939. 400,000 00 F. & P. M. Tol. Div. 5s of July 1, 1937. 100,000 00 P. M. Transportation Co. ( Car Fer- ry) gold 6s of 1903-07. $5,758,000 00 C. & W. M. 1st 5s of Dec. 1, 1921. 1,667,000 00 C. & N. M. 1st 6s of May 1, 1931. 19,000 00 G. R., N. & L. S. 1st 7s of June 1, 1906. 5,379,102 43 D., G. R. & W. 1st 4s of April 1, 1946. 1,000,000 00 S.,T.&H.RR.lst gold 4s of Aug.1.1930. 93,000 00 West. Eq. Co.,Ltd.,6s of April 1, 1909. 797,000 00 Marq. Equip.Co.,Ltd.,5s of Oct.l, 1910. 6,235 00 C. & W. M. coupon scrip. Collateral trust bonds, $2,870,000, issued for purchase of Lake Erie and Detroit River By. are described in Section 1. Consol. Mtge. Bonds, P. M. RR. Co. — Secured on the entire property of the company, subject to prior liens. Authorized issue, $50,000,000. Sufficient bonds are reserved for the retirement of che prior liens. Flint and Pere Marquette 1st Mtge. Bonds. — Both Issues are secured by the same mortgage, covering the road from Monroe to Ludington, the Flint River Branch and the Saglnaw and the Bay City Branch, a total of 279.90 miles. Flint and Pere Marquette 1st Consol. Mtge. Bonds. — Secured by first mortgage on 119.72 miles of branches and by second mortgage on the property covered by the F. & P. M. 1st mtge. bonds. F. d P. M. Port Huron Division Bonds. — Secured by first mortgage on the Port Huron and Port Austin Divisions (Saginaw to Port Huron, .90.3 m. ; Port Huron to Almont, 34.09 m. ; Port Huron to Grindstone City, 92.33 m. ; Palms to Harbor Beach, 18.3 m.), 235.02 miles. F. £ P. M. Toledo Division Bonds. — Secured by first mortgage on the line from Monroe, Mich., to Toledo, O., 18.70 miles, and on all property appertaining thereto. The mortgage also covers the lease for trackage and terminals with the Ann Arbor RR., at Toledo, O. Pere Marquette Transportation Co. Bonds. — Secured by first mortgage on Car Ferry No. 15. Chicago and West Michigan Consol. Mtge. Bonds. — Secured by first mortgage on the following lines, subject to the lien of the G. R., N. & L. S. bonds, mentioned in the following paragraph : La Crosse, Ind., to Traverse City, Mich., 300.83 m. ; Allegan to Pentwater, Mich., 98.82 m. ; Big Rapids Junction to Big Rapids, Mich., 51.6 m. ; Mears to Hart, Mich., 3.78 m. ; Kirks to Muskegon, Mich., 11.98 m. ; Pickands to Fruitport, Mich., 1.76 m. ; Muskegon to Port Sherman, Mich., 5.11 m. ; Cronje to Ottawa Beach, Mich., 6.25 m. — total, 480.13 miles. Grand Rapids, Newaygo and Lake Shore Bonds. — Secured by first mortgage on the line from Newaygo to White Cloud, Mich., 10 miles. Chicago and North Michigan Bonds. — Secured by first mortgage on the following lines : Boardman June, to Bay View, Mich., 79.02 m. ; Williamsburg to Elk Rapids, Mich., 9.51 m. — total, 88.53 miles. Detroit, Grand Rapids and Western 1st Consol. Mtge. Bonds. — Secured by first mortgage on the following lines : West Detroit to Grand Rapids, Mich., 146.64 m. ; Kiddville to Strong, Mich., 9.28 m. ; Grand Ledge to Big Rapids, Mich., 93.24 m. ; Mecosta Junction to Barryton, Mich., 11.17 m. ; Remus to Weldman, Mich., 13.36 m. ; Rodney to Chippewa, Mich., 5.47 m. ; Belding to Paines, Mich., 100.57 m. — total, 379.73 miles. Saginaw, Tuscola and Huron 1st Mtge. Bonds. — Secured by first mortgage on the Saginaw, Tuscola and Huron RR. (see appended statement). Both principal and interest are guaranteed by the Pere Marquette RR. Co. The Western Equipment Co., Ltd., Bonds. — Secured on 100 flat cars and 100 refrigerator cars. There is a sinking fund sufficient to retire the bonds t.t maturity. The Marquette Equipment Co., Ltd., Bonds. — Secured on 900 box cars, 200 coal cars, 10 caboose cars and 17 locomotives. The authorized issue Is $1,000,000. Bonds amounting to $998,000 have been Issued, but $201,000 of them have been retired by action of the sinking fund, leaving outstand- ing at this time (May 1, 1903), $797,000. A sinking fund is provided by which one-tenth of the total amount of bonds is to be retired each year at par and accrued interest, the privilege being re- served by the Pere Marquette RR. Co. to increase that amount or pay the entire issue at par and accrued interest at any time on sixty days' notice. Chicago and West Michigan Coupon Scrip. — This scrip, originally amounting to $663,902.50, was called for payment, at par, on Nov. 1, 1901, and Dec. 2, 1901, and interest on it has ceased. HH. Grand Rapids, Belding: and Sa&lnaw RR. Bonds. — $260,000 1st mtge. 5 p. c. 25-yr. bonds, due March 1, 1924, secured on the line from Belding to Freeport.Mich., 28 miles. The line has been deeded to the Pere Marquette RR. Co. and while that company has not assumed the bonded debt so as to become liable for it, the bonds are necessarily a part of the obligations out- standing against the property. They are not included in the amount of funded debt as per general balance sheet. 9. Investment** of Pere Marquette RR. Co., March 1, 1903. — The details of the $1,421.- 027.43 of Investments as per general balance sheet are not given in the report of the company. The following is a detailed statement of the company's investments as of March 1, 1903 : Fort Street Union Depot Co. stock, $519,750 ; Bay City Belt Line stock, $96,500 ; Bay City Belt Line, $25,104.53 ; Pere Marquette Transportation Co. stock, $196,460.18 ; Pere Marquette Trans- portation Co., $90,000; Grand Rapids, Belding and Saginaw RR. stock, $24,125; Lake Erie and Detroit River Ry. stock, $2,870,000 ; Cbarlevoix Improvement Co., $60,000 ; Ottawa Beach prop- erty, $93,484.77; W. W. Crapo, trustee, $157,019.62; Lake Erie Coal Co., $10,000; other stocks and bonds, $175,000 — total, $4,317,444.10. POOR S MANUAL — PERE MARQUETTE RR. CO. 427 1O. Statement of operations, property, and capital accounts, for three years ending Dec. 31: 1900 1901 1902 1900 1901 1902 Miles Railroad Oper. . . . Passenger Train Mileage Freight Train Mileage . . Total Rev. Mileage . . 1,821.29 1,837.68 1,828.27 Gross Earnings per Mile Operating Exp. p. Mile. . Net Earnings per Mile. . Expenses to Earnings. . . A. Earn. p. Pass. p. Mile. S 4,55507 3,332 09 1,222 98 73.15 p.c. 2.18 c. $ 5,002 81 3,710 68 1,292 13 74.21 p.c. 2.01 c. S 5,445 24 3,894 87 1,550 37 71.53 p.c. 2.04c 2,956,718 3,211,422 3,217,524 3,562,343 3,304,646 3,776,734 6,168,140 6,779,867 7,081,380 Passengers Carried Passenger Mileage Freight (tons) Moved. .. Freight (ton) Miles Earnings— Passenger . . Freight .... Other 2,853,495 105,760,378 5,675,599 639,329,323 $ 2,414,103 5,540,189 341,819 3,382,443 123,739,849 6,439,247 791,039,936 $ 2,573,937 6,257,373 369,865 3,593,454 130,049,384 7,203,639 906,063,784 $ 2,658,594 6,367,049 929,732 Av. Earn. p. Ton p. Mile Miles Railroad Owned. . Miles Track Owned Locomotives 0.80 c. 1,691.70 2,181.65 224 271 8,126 $ 16,000,000 12,000,000 26,793,071 1,976,508 0.73 c. 1,706.89 2,234.00 250 272 9,280 $ 16,000,000 12,000,000 29,447,978 1,976,018 0.70 c. 1,768.31 2,370.56 266 285 9,771 1 16,000,000 12,000,000 31,173,337 2,329,797 Passenger Train Cars Freight Train Cars Total 8,296,111 6,068,701 9,201,175 6,828,040 9,955,375 7,120,868 Funded Debt Operating Expenses . . . Net Earnings Current Liabilities Total Liabilities. .... Cost of Road, etc 2,227,410 261,891 1,319,330 2,373,135 282,172 1,356,389 2,834,507 389,665 1,451,705 56,769,579 53,102,703 416,000 777,085 406,300 2 067 491 59,423,996 54,829,181 1,183,000 1,410,492 397,760 1 603563 61,503,134 57,061,568 890,000 1,421,027 550,024 1 580 515 Payments — Taxes Interest . . . Sink. Fund. Pref. Div.... Total Trust Equipment Investments * (4) 480,000 152,500 (4) 420,446 159.244 (4) 420^416 Materials and Supplies . Cash & Current Assets.. . Total Assets 2,061,221 166,189 2,211,507 161,628 t2,621,030 213,477 Surplus 56,769,579 59,423,996 61,503,134 •Equipment sinking fund payments in 1900 (amount, $69,233.32) were charged in operating expenses to repairs of freight cars, tincluded In this total is $200,000 transferred to " Improvement Fund." 11. Land Department. — During the year ending Dec. 31, 1902, there were sold 4,543.51 acres for $25,184.29, an average of $5.54 an acre. «Lands unsold Dec. 31, 1902, 30,341.23 acres. Bills receivable on hand Dec. 31, 1902 (principal, $35,714.70; Interest, $5,814.49), $41,529.19. Receipts during year: Contracts (principal, $22,682.83; Interest, $2,663.40), $25,346.23; interest on deposits, $443.39 — total, $25,789.62. Payments (taxes and sundries, $2,603.95; land office ex- penses, $1,046; trustee and clerical services, $375), $4,024.95. Balance paid to treasurer, $21,764.67. 12. RAILROAD LEASED BY THE PERE MARQUETTE RR. Co. GRAND RAPIDS, KALKASKA AND SOUTHEASTERN RR -- Rapid City to Strat- ford, Mich., and branches, 40.73 m. ; total track, 47.98 miles. HISTORY. — Chartered in May, 1897; road opened Jan. 10, 1898. Leased to the Chicago and West Michigan Ry. Co., for ten years from Jan. 20, 1898, and lease assumed by the Pere Marquette RR. Co. FINANCIAL STATEMENT. — Capital stock, $264,000; funded debt (1st gold 6s of Nov. 1, 1927), $200,000 — total stock and bonds, $464,000. CORPORATE OFFICERS. — W. Alden Smith, Pres., Grand Rapids, Mich. ; Samuel W. McCall, Vice-Pres. ; Geo. A. Fernald, Treas., 40 Water St., Boston, Mass. ; M. C. Huggett, Sec., Grand Rap- ids, Mich. Office, Grand Rapids, Mich. 13. Board of Directors, Pere Marquette RR. Co., elected May 6, 1903. Win. K. Bixby....St. Louis, Mo. Thomas H. West.. " S. R. Shipley.. Philadelphia, Pa. M. J. Carpenter. . Detroit, Mich. FREDERICK H. PRINCE, President Boston, Mass. Mark T. Cox, Vice-President New York, N. Y. Fred. H. Prince. .Boston, Mass. Nathaniel Thayer. Charles Merriam... " Geo. H. Norman . Newport, R. I. Thos. F. Ryan . .New York, N. Y. Mark T. Cox Newman Erb.. . . " '<• Newman Erb, V ice-President Myron J. Carpenter, Viee-Pres. and General Manager Detroit, Mich. Sec. 233 6o Expenses— Maint. of Way and Struc.... $781,674 14 Maintenance of Equipment. 609,596 65 Conducting Transportation.. 2,253,947 27 General Expenses 238,155 54 Total ($6,178.83 per mile) $6,041,470 16 Total (13,971.67 per mile) $3,883,373 60 442 POOR S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. Net earnings (35.72 p. c.), $2,158,096.56; other receipts, $37,076.11— total, $2,195,- 172.67. Payments: Interest on bonds, $1,113,789.43; other interest, $6,421.51; taxes, $218,493.18; rentals, $376,363.87 — total, $1,715,067.99. Surplus, $480,104.68; surplus to June 30, 1901, $276,935.14 — total, $757,039.82. Deduct amount appropriated by the board of directors in part payment of the cost of improvements, $124,990.41. Balance, surplus, June 30, 1902, $632,049.41. Cost of Road and Equipment $53,464,698 50 Ten Locomo. from Brooks Loco.Wks. 127,441 96 Treasury Preferred Stock 1.232,895 64 Treasury Common Stock 1,352,124 07 Material In Private Tracks Investments in Stocks and Bonds William L. Bull, Trustee Trustees of Sinking Funds Cash in Special Improvement Fund.. Materials and Supplies Cash and Current Assets 1,919,57833 Land Department Assets (net) 216,683 48 Unadjusted Accounts 46,048 45 Tax Account 3,16390 7. General Balance Sheet, June 30, 1902. Common Stock ($100 shares) $17,600,00000 Preferred Stock ($100 shares) 12,500,000 00 Funded Debt Outstanding(see Sec. 9). 26,869,500 00 Brooks Locomotive Works 128,458 82 Vouchers and Pay Rolls 4S8.029 64 Accounts Payable 160,36625 Interest on Funded Debt Accrued.... 639,549 16 Sk.Fd.Trust. for Acct. of Ld.Sales.etc.. 263,584 03 Equipment Renewal Account 128,250 43 127,397 21 63,931 62 78,038 19 1,311 02 171,659 60 456,110 90 Total Assets $59,251,08287 Rebuilding Suspense Account. Renewal Reserve Fund Unadjusted Accounts Profit and Loss 5,255 64 50,039 69 16,000 00 632,049 41 Total Liabilities $59,251,08287 8. Capital Stock. — The preferred stock is entitled to receive, or have set apart for it, a non- cumulative dividend, if declared, to the extent of 4 p. c. per annum, payable out of the surplus net earnings each fiscal year before any dividend for such year shall be paid on the common stock, and without deduction for any taxes which the company may be required at any time to pay or retain therefrom. In any year in which 4 p. c. dividend shall have been declared on behalf of common and preferred stock, all shares, whether common or preferred, shall participate equally in any further dividends for such year. Whenever, for two successive years, dividends on the preferred stock at the rate of 4 p. c. per annum shall not have been earned and paid in cash, said preferred stock shall thereafter have the right to elect a majority of the board of directors of the company. The preferred stock cannot be increased beyond $12,500,000 par value, except after obtaining the consent of the holders of at least a majority of the whole amount of the preferred stock, given at a meeting of the stockholders called for that purpose, and also the consent of the holders of a majority of such part of the common stock as shall be represented at such meeting. Voting power is vested in five voting trustees, under an agreement dated July 13, 1899, in pur- suance of which the stocks will be held by such trustees until July 1, 1904, although it may be dis- tributed at any earlier date at their discretion. Until such distribution is made, voting trust certifi- cates will be issued, entitling the registered holders to any dividends that may be declared on the shares. 9. Funded Debt. — The funded debt outstanding on June 30, 1902 — total, $26,869,500, as per general balance sheet — consisted of the following issues of bonds (additional particulars will be found in the Ready Reference Bond List — see General Index) : S23.8S4.000 1st gen. gold 4s of July 1, 1949, se- cured upon the property acquired in the reorgani- zation, subject only to the liens of the Wisconsin Central 1st series bonds, the Chicago, Wisconsin and Minnesota 1st mtge. bonds and the Milwaukee and Lake Winnebago 1st mtge. bonds on the properties covered by those issues, to the lien of $3,885 of real estate mortgages on a part of the Manitowoc Terminal property, and to some mort- gages given to secure bonds of the Chicago, Mil- waukee and St. Paul Ry. Co. on the half interest in the 14.37 miles of road between Hilbert Jufcc- tion and Menasha, Wis., purchased from that company. All other bonds of the several con- stituent companies of the Wisconsin Central Sys- tem have been acquired by the company and de- posited with the trustee under this mortgage as muniments of title. The authorized issue of 1st gen. mtge. bonds is $27,000,000, of which $24,640,- 000 have been issued, $756,000 thereof having been retired by action of sinking fund. Of the $2,360,- 000 of unissued bonds, $2,245,000 are reserved for the retirement of the three outstanding issues of $66O,5OO Wisconsin Central RR. 1st series gold 5s of Jan. 1, 1909. Secured by first mortgage on the Wisconsin Central RR. (see MANUAL for 1899, page 363). The proceeds of land sales are applicable to the purchase of these bonds, but there can be no drawings. $6O4,OOO Milwaukee and Lake Winnebago RR. 1st gold 6s of July 1, 1912. Secured on the line from Schleisingerville, Neenah, Wis., and on the section of the Manitowoc Division between Nee- nah and Menasha. $77O,OOO Chicago, Wisconsin and Minnesota RR. 1st gold 6s of 'March 1, 1916. Secured on the line from Central Avenue, Chicago, to Schlei- singerville, Wis., 114.67 miles. $5OO,OOO Minneapolis Terminal purchase money gold 3Js of Jan. 1, 1950. Secured on ter- minals at Minneapolis, Minn. The bonds are subject to call for redemption on or after Jan. 1, 1910, at 105 p. c. and accrued interest. 9445,OOO Marshfleld and Southeastern Divi- sion purchase money gold 4s of May 1, 1951. Se- cured on the line from Marshfleld to Nekoosa, Wis., 32.61 miles. prior lien bonds, and $115,000 are available for improvements, equipment, etc. 1O. Sinking Fnnd. — When the first series of bonds of the Wisconsin Central RR. Co. have all been retired and the mortgage under which they were issued, dated Jan. 1, 1879, shall have been dis- charged of record, all moneys arising from the sales of lands belonging to the land grant shall b* received by the trustees of the Wisconsin Central Ry. Co 's mortgage, and the surplus thereof remaining, after deducting the expense of the trust in respect thereof and of the management, settle- ment and sale of said land, and after repayment to the railway company for its outlays for taxes, assessments, advertising charges, betterments and other proper expenses incurred by it in connection with said lands, or to promote the sale thereof, shall be invested by the trustees in purchasing bonds secured by the mortgage of the Wisconsin Central Ry. Co. whenever such bonds can be purchased at a price not exceeding par and accrued interest. If such purchase cannot be effected within three POOR 8 MANUAL WISCONSIN CENTRAL RT. CO. 443 months after the receipt of such proceeds the trustees shall, if the railway company requests, pur- chase said bonds at any higher price fixed by the company, but if the railway company does not so request, such proceeds shall be paid to the railway company when and as called for by resolution of its Board of Directors, approved by a majority of all members, specifying that such proceeds are to be used for the improvement, betterment, enlargement, equipment or extension of the railroads or property covered by the mortgage or additions thereto, specifying the particular purpose for which these proceeds are to be used. There was in the Land Grant Sinking Fund on June 30, 1901, $400,142.47 ; there was paid into this fund during the year, $244,450 ; interest on deposits during year, $4,946.10, making a total amount available, $649,538.57. Paid during the year for expenses of administering the trust, $6,494.52 ; amount invested by trustees, $642,885.87 ; balance on hand June 30, 1902, $158.18. The trustees expended during the year $642,885.87 in the purchase and retirement of 593 first series bonds of the Wisconsin Central RR. Co., all but four of which were purchased from the trustees of the 1st general mortgage. The amount received by the sinking fund trustees under the 1st general mortgage for the 589 first series bonds thus disposed of, together with $37,858.44 which still re- mained in the so-called collateral trust of Sept. 14, 1893, were applied to the purchase in open market of $756,000 1st gen. mtge. bonds, which have been cancelled and destroyed. 11. Eqnlpn»en* Trust Agreement. — During the last half of the fiscal year ending June 30, 1902, the company contracted for 10 locomotives, 300 box cars, 100 stock cars, 25 refrigerator cars, 3 postal cars, 5 passenger coaches, 2 chair cars, 4 composite cars, 2 baggage cars and 4 wreck- ing Cranes, all of which have since been delivered. The cost of this equipment and of the 10 loco- motives purchased of the Brooks Locomotive Works (see general balance sheet) amounted to $738,- 458.84, of which $138,458.84 was paid in cash after June 30, 1902. Payment of the remaining $600,000 has been secured by an equipment trust agreement with the Metropolitan Trust Co. of New York' covering the above equipment. The trust is dated July 1, 1902, and requires the company to pay $60,000 annually for ten years, with interest at the rate of 5 p. c. per annum, payable semi- annually, on deferred payments. 12. Statement showing the operations, income and general accounts for three fiscal years ending June 30, 1900, 1901, and 1902: 1900 1901 1902 1900 1901 1902 Miles Road Operated.. . . Pass Train Miles 945.27 1,765,574 2,212,702 1,022,109 55,531,569 3,989,032 571,086,238 $ 1,182,493 4,174,776 280,147 955.07 1,668,896 2,027,951 980,890 54,134,195 3,428,562 522,867,887 $ 1,180.763 3,879,046 264,465 977.77 1,699,751 2,220,212 1,059,910 58,036,192 4,004,906 636,393,127 $ 1,267,360 4,508,877 265,233 Net Earnings 1 2,056,480 8,278 1 1,857,811 24,762 I 2,158,097 37,076 Other Receipts Freight Train Miles Passengers Carried Net Income 2,064,758 206,705 1 026,954 338,184 1,882,573 213,116 1,090,511 332,829 2,195,173 218,493 1,120,211 376,364 Taxes '.'. Freight (tons) Moved. . Freight (ton) Mileage. .. Earnings— Passenger . . Freight .... Other Total Interest Rentals Total Payments Surplus Income 1,571,843 492,915 30,000,000 26,276,500 1,221,892 42,168 1,636,456 246,117 30,000,000 27,634,500 1,449,871 276,935 1,715,068 480,105 30,000,000 26,869,500 1,749,534 632,049 Capital Stock 5,637,416 3,580,936 5,324,274 3,466,463 6,041,470 3,883,373 Other Liabilities Operating Expenses . . . Profit an'l Loss Total Liabilities. .... 2,056,480 5,963 82 3,788 27 2,175 55 63.52 p.c. 2.03 c. 0.73 c. 1,857,811 5,574 75 3,629 54 1,945 21 65.11 p.c. 2.08 c. 0.74 c. 2,158,097 6,178 83 3,971 67 2,207 16 64.28 p.c. 2.08 c. 0.71 c. 57,540,560 49,954,732 5,221,254 575,959 1,788,615 59,361,306 52,736,360 4,618,225 601,648 1,405,073 59.251,083 53,592,140 3,017,358 456,111 2,185,474 Gross Earn, per Mile . . . Oper. Expenses p.Mile. . Net Earn, per Mile Expenses to Earnings. . . Earn. p. Pass. p. Mile . . . Earn. p. Ton p. Mile Other Investments .... Other Assets Total Assets 57,540,560 59,361,306 59,251,083 13. Land Department. — Lands unconveyed July 1, 1901 (unsold. 455,660.74 acres; under contract, 53,363.77 acres), 509,024.51 acres. Deeded during the year, 27,406.40 acres. Cancellations, 979.99 acres. Lands unconveyed June 30, 1902 (unsold, 427,198.56 acres; under contract, 54,419.55 acres), 481,618.11 acres. There were sold during the year 29,442.17 acres for $184,955.75, an average of $6.28 an acre. There were 36 lots and 7 blocks sold for $3,415. Sales cancelled amounted to $15,962.16. Net sales, $172,408.59; add for stumpage, $34,690.19; for royalties, $125,444.30 — total, $332,543.08. The receipts of the department amounted to $353,962.66 ; taxes and expenses, $96,757.75 ; payments to sinking fund, $242,691.69. Amounts unpaid on outstanding contracts, $362,958.55, of which $350,507.76 was principal and $12,450.79 interest. 14. Directors (elected Oct. 14, 1902).— Wm. L. Bull, John Crosby Brown, Fred T. Gates, Gerald L. Hoyt, James C. Colgate, Edward W. Sheldon, Joseph S. Dale, New York, N. Y. ; Francis R. Hart, Boston, Mass.; H. F. Whitcomb, Howard Morris, Mil- waukee, Wis. ; Wm. F. Vilas, Madison, Wis. WM. L. BULL, Chairman of the Board New York, N. Y. H. F. WHITCOMB, President Milwaukee, Wis. Treasurer — W. R. Hancock Milwaukee, Wis. I Asat. Sec. — Joseph S. Dale New York, N. Y. Secretary — Charles M. Morris.. \Compt.dcAud. — Robert Toombs.. Milwaukee, Wis. PEINCIPAL OFFICE AND ADDRESS Milwaukee, Wis. 444 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. ABBOTSFORD AND NORTHEASTERN RR.— Projected : Abbotsford, Wis., to Wausau and Merrill, Wis., 70 miles. Completed up to June 30, 1902 : Abbotsford to Athens, Wis., 15 16 m • total track, 15.74 miles. Rail (steel, 5.46 m.), 56 and 60 Ibs. Gauge, 4 ft. 8J in. Chartered April 12, 1889; road opened Oct. 1, 1889. Locomotive, 1. Cars — freight (flat), 4; caboose, 1 — total, 5. Operations, year ending June 30, 1902. — Trains run (freight), 9,900 miles. Passengers car- ried, 3,455 ; carried one mile, 48,042. Tons freight moved, 40,719 ; ton-miles, 584,482. Earnings (passenger, $1,832; freight, $19,006; other, $2,660), $23,498. Operating expenses, $16,193. Net earnings, $7,305. Payments : Interest on bonds, i>6,720 ; taxes, $100 ; other charges, $2 — total $6,822. Surplus, $483 ; deficit forward, $10,325 — net deficit, $9,842. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $120,000; funded debt (1st gold 6s of Oct. 1, 1919), $112,000; current liabilities, $2; interest accrued, $12,540 — total, $244,542. Contra : Cost of road and equipment, $232,000 ; cash and current assets, $2,700 ; profit and loss, $9,842 — total, $244,542. Directors (elected May 29, 1902). — Fred. Rietbrock, L. W. Halsey, A. C. Rietbrock, Thos. H. Gill, Milwaukee, Wis. ; Wm. L. Erbach, Athens, Wis. OFFICERS : FRED. RIETBROCK, Pres. & Gen. Mgr.; L. W. Halsey, Vice-Pres. ; A. C. Rietbrock, Treas. & Aud.; Thos. H. Gill, Sec., Milwaukee, Wis. GENERAL OFFICE, Milwaukee, Wis. ADDYSTON AND OHIO RIVER RR. — Addyston, O., to Ohio River, Cincinnati, O., 7.20 miles. Rail (steel), 56 Ibs. Gauges, 4 ft. 81 in., 4 ft., and 2 ft. 101 in. Chartered Feb. 12, 1889; road opened Sept., 1889. Owned by the United States Cast Iron Pipe and Foundry Co., and used by that company for transporting stuff in and around their shops. Locomotives, 7. Cars — freight (coal, 60; other, 35), 95; other, 1 — total, 96. Gross earnings year ending June 30, 1902, $19,971, applied to operating expenses. Capital stock ($100 shares), $50,000. Directors. — Daniel McLaren, Larz Anderson, B. F. Haughton, B. S. Cunningham, W. J. Lippin- cott, Cincinnati, O. OFFICERS: G. B. HAYES, Pres.; G. J. Long, 1st Vice-Pres.; A. F. Callahan, 2d Vice-Pres.; B. F. Haughton, Sec. & Treas.; T. N. Johnson, Gen. Mgr.; D. P. Hopkins, Supt. & Aud., Addyston, O. GENERAL OFFICE, 638 Rookery Building, Chicago, 111. ADENA RR. — Projected : Adena, O., to St. Clairsville, on B. & O. RR., 21 miles. Completed, Feb. 15, 1903, Adena to Roby Mine, 1.5 m. ; Roby Mine tracks, 2 m. — total, 3.5 miles. The line is graded the entire distance to St. Clairsville. Gauge, 4 ft 81 in. Rail (steel), 60 Ibs. Capital stock authorized, $1,000,000. Bonds authorized, $1,000,000. Directors. — J. H. Dempsey, W. C. Boyle, W. M. Duncan, W. B. Whiting, C. E. Sanders, J. P. Stark, J. G. Stidger, Cleveland, O. OFFICERS: J. P. STARK, Pres.; C. E. Sanders, Vice-Pres.; W. B. Whiting, Sec.; Robert Blickensderfer, Gen. Mgr., Cleveland, O. GENERAL OFFICE, Cleveland, O. AHNAPEE AND WESTERN RY. — Casco June, to Sturgeon Bay. Wis., 34 m. ; total track, 36 miles. Rail (steel), 52 Ibs. Gauge, 4 ft. 81 in. Chartered Aug. 18, 1890. Road com- pleted from Casco June, to Ahnapee (now Algoma), 14 m., in Aug., 1892 ; to Sturgeon Bay in July, 1894. Connects with the Kewaunee, Green Bay and Western RR. at Casco June. Road owned by E. Decker & Sons. Locomotives, 2. Cars — passenger, 2; baggage, 2; freight (box, 1; flat, 20), 21 — total, 25. Operations, year ending June 30, 1902. — Trains run (mixed), 42,568 miles. Passengers car- ried, 28,925 ; carried one mile, 983,450. Tons freight moved, 32,504 ; ton-miles, 1,105,136. Earn- ings (passenger, $21,007 ; freight, $20,441 ; other, $4,701), $46,149. Operating expenses, $27,580. Net earnings, $18,569. Payments : Interest on bonds, $20,400 ; taxes, $170 — total, $20,570. Deficit, $2,001 ; deficit forward, $72,740 — total, $74,741. General Balance Sheet, June 30, 1902. — Capital stock ($500,000 auth. ; $100 shares), $106,000; funded debt (1st 6s of July 1, 1902), $340,000: current liabilities, $138,877 — total, $584,877. Contra : Cost of road and equipment, $502,424 ; cash and current assets, $2,812 ; other assets, $4,900 ; profit and loss, $74,741 — total, $584,877. Directors. — E. Decker, Casco, Wis. ; E. Decker, Jr., Nathan Decker, M. C. Haney, Algoma, Wis. ; David Decker, Sturgeon Bay, Wis. ; L. Albert Kavel, Kewaunee, Wis. ; S. W. Champion, Green Bay, Wis. OFFICERS: E. DECKER, Pres., Casco, Wis. ; David Decker, Vice-Pres. & Gen. Mgr., Sturgeon Bay, Wis. ; E. Decker, Jr., Treas. & Sec., Algoma, Wis. GENERAL OFFICE, Sturgeon Bay, Wis. AKRON AND BARBERTON BELT RR. — Belt Line around Barberton, O., 5.4 m., Bar- berton to Fairlawn, O., 7 m. ; Barberton to White Grocery, O., 10 m. — total, 22.4 m. ; total track (steel; 60, 70 and 75 Ibs.), 28.9 miles. Gauge, 4 ft. 81 in. Consolidation, May 6, 1902, of the Barberton Belt Line RR. Co. (see MANUAL for 1901, page 309), Cleveland, Barberton and Western RR. Co., and Barberton, Akron and Easton Belt Line RR. Co. Locomotives, 3 ; flat car, 1. Financial Statement, Dec. 31, 1902. — Capital stock, $100,000 ; funded debt (1st 4s of June 1, 1942), $1,000,000; other liabilities, $147,885 — total, $1,247,885. Contra: Cost of Toad and equip- ment, $1,014,526 ; cash and current assets, $233,359 — total, $1,247,885. Interest on the bonds is payable at the office of the trustee, United States Mortgage and Trust Co., New York, N. Y. Directors. — Edw. B. Taylor, Pittsburgh, Pa. ; E. D. Underwood, W. C. Brown, New York, N. Y. ; Oscar G. Murray, Baltimore, Md. ; James McCrea, Pittsburgh, Pa. OFFICERS : EDW. B. TAYLOR, Pres.; Robert R. Reed, Treas.; S. B. Liggett, Sec., Pittsburgh, Pa. F. H. Reeves, Aud.; J. C. Moorhead, Supt., Barberton, O. GENERAL OFFICE, Barberton, O. ARCADIA AND BETSEY RIVER RR.— Arcadia to Copemish, Mich., 21 m. ; total track (steel; 56 Ibs.), 22.50 miles. Gauge, 4 ft. 81 in. Chartered Sept. 25, 1895; purchased the right of way from the Arcadia and Betsey River Tram Ry. Co. ; road opened as above Dec. 12, 1896. Loco- motives, 2. Cars — passenger, 1; freight (flat, 40; box, 1), 41 — total, 42. Operations, year ending Dec. 31, 1901. — Passengers carried, 7,252 ; carried one mile, 83,376. Tons freight moved, 34,788. Earnings (passenger, $2,202 ; freight, $8,863 ; other, $986), $12,051. Operating expenses and taxes, $13,574. Loss from operations, $1,513. Gteneral Balance Sheet, Dec. 31, 1901. — Capital stock ($165,000 auth. ; $100 shares), $140,- 000 ; unfunded debt, $13,655 ; profit and loss, $4,650 — total liabilities, $158,305. Contra : Cost of road and equipment, $1.52,258 ; real estate, $3,696 ; current and other assets, $2,351 — total, $158,305. Directors. — Chas. J. Starke, H. Mauntler, Adolph Hasse, John Weldt, Maria Starke, Arcadia, Mich. OFFICERS : CHAS. J. STARKE, Pres. & Gen. Mgr. ; Henry Mauntler. Vice-Pres. ; Adolph Hasse, Sec., Treas. & Aud., Arcadia, Mich. GENERAL OFFICE, Arcadia, Mich. ATI SABLE AND NORTHWESTERN RR. — Au Sable to McKlnley, Mich., 36 m. ; Mc- Kinley to Red Oak, Mich., 28 m. — total, 64 m. ; total track (steel ; 30 to 40 Ibs.), 73 miles. Gauge, 3 ft Chartered July 22, 1891, as successor to the Au Sable and Northwestern Ry. Co. ( See MANUAL POOR'S MANUAL OP RAILROADS. 445 for 1893, page 697.) Locomotives, 6. Cars — passenger, 4; baggage, etc., 3; freight (box, IB; stock, 20), 35; other, 205 — total cars, 247. Operations, year ending Dec. 31, 1902. — Earnings (passenger, $4,925; freight, $52,577; other, $1,822), $59,324. Operating expenses and taxes, $54,686. Net earnings, $4,638. General Balance Sheet, Dec. 31, 1900 (latest rendered). — Capital stock paid in ($560,000 auth. ; $100 shares), $41,500 ; unfunded debt, $151,679 ; profit and loss, $201,353 — total, $394,532 ; representing cost of road and equipment. Directors.— H. N. Loud, G. A. Loud, E. F. Loud, F. C. Ebling, Au Sable, Mich. OFFICERS- H. N. LOUD, Pres.; George A. Loud, Vice-Pres. & Gen. Mgr.; F. C. Ebling, Sec., Treas. & Aua., Au Sable, Mich. GENERAL OFFICE, Au Sable, Mich. BAYFIELD TRANSFER RY. — Bayfield to Red Cliff, Wis., 4.52 miles. Operated under contract : Bayfield Harbor and Great Western Ry., Bayfield June, to Raspberry Road, Wls., 6 miles. Total operated (Including 0.66 m. sidings), 10.52 miles. Gauge, 4 ft. 8 J in. Steel rail. Road built In 1897. This company operates the Bay field Harbor and Great Western Ry., any loss or gain re- sulting therefrom accruing to the B. H. & G. W. Ry. Co. Locomotives, 2. Cars — passenger, 1 ; combination, 1; freight (flat), 19; service, 3 — total, 24. Operations, year ending June 30, 1902. — Earnings (passenger, 2,487; freight, $5,245; other, $1.563), $9,295. Operating expenses, $9,336. Deficit from operation, $41. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $3,000,000; funded debt (1st 5s of Jan. 15, 1927), $1,500,000; current liabilities, $535,477 — total, $5,035,477. Contra: Cost of road and equipment, $3,415,565 ; stock owned, $1,324,600 ; cash and current assets, $5,322 ; profit and loss, $289,990 — total, $5,035,477. Directors. — George H. Noyes, B. K. Miller, Jr., F. W. Dockery, Milwaukee, Wis. ; J. M. Smith, Duluth, Minn. ; H. C. Hale, Bayfield, Wis. OFFICERS : GEO. H. NOTES, Pres., Milwaukee, Wis. ; J. M. Smith, Vice-Pres., Duluth, Minn. ; H. C. Hale, Sec., Treas. & Gen. Mgr., Bayfleld, Wis. GENERAL OFFICE, Bayfleld, Wis. BAY TERMINAL RR. -Rockwell June. (L. S. & M. S. Ry.) to W. & L. E. Ry. June., Toledo, O., 1.2 m. ; total track (steel; 60 Ibs.), 2 miles. Gauge, 4 ft. 8J in. Chartered April 4, 1895; road opened April 1, 1896. Owns 1 locomotive and 340 tank cars. Capital stock ($100 shares), $95,000. No bonded debt. Directors. — J. N. Pew, W. S. Miller, Pittsburgh, Pa. ; Robert C. Pew, J. Ed. Pew, John C. McKisson, Toledo, O. OFFICERS: J. N. PEW, Pres., Pittsburgh, Pa.; vacancy, Vice-Pres.; W. S. Miller, Sec. & Treas., Pittsburgh, Pa. ; Robert C. Pew, Gen. Mgr., Toledo, O. GENERAL OFFICE, Toledo, O. BEDFORD STONE RY.— Rivervale to Stonington, Ind., 5 miles. Gauge, 4 ft. 8J in. Rail (steel), 67 Ibs. Locomotives, 2; no cars. Chartered April 15, 1902; road in operation prior to July 1, 1903. Used mainly for hauling stone from the quarries at Stonington. Connects with the B. & O. S. W. RR. at Rivervale. Capital stock, representing cost of road, $50,000. Directors. — Not reported. OFFICERS: GEORGE W. HUNTINGTON, Pres., Cleveland, O. ; E. E. Huntington, Vice-Pres., Chicago, 111. ; E. A. Merritt, Sec. & Treas., Cleveland, O. ; C. W. Walters, Gen. Mgr., Chicago, 111. GENERAL OFFICE, Chicago, 111. BELT RY. CO. OF CHICAGO (THE).— Auburn June, to C., M. & St. P. June., 15.9 m. ; branches from Pullman June, to Irondale, 111., etc., 5.41 m. — total, 21.31 m. ; 2d track (leased), 17.83 m. ; sidings (owned, 27.14 m. ; leased, 27.94 m.), 55.08 m. — total track, 94.22 miles. Rail (steel), 60, 66, and 80 Ibs. Gauge, 4 ft. 8J in. Chartered Nov. 22, 1882, and leased the Belt Divi- sion of the Chicago and Western Indiana RR. Road opened May 1, 1883. The company owns 8 coal cars and leases the following equipment : Locomotives, 41. Cars — box, 50 ; gondola, 250 . coal and flat, 80 ; dump, 50 ; caboose, 20 — total, 450. Operations, year ending June 30, 1902. — Trains run (freight, 976,736; other, 58,584), 1,035,320 miles. Earnings (freight, $958,405; other, $26,396), $984,801. Operating expenses, $561,729. Net earnings, $423,072. Payments : Taxes, $52,350 ; rentals, $145,954 ; dividends (8 p. c.), $96,000 — total, $294,304. Surplus, $128,768; surplus forward, $577,455 — total, $706,223. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,200,000; current liabilities, $116,391 ; profit and loss, $706,223 — total, $2,022,614. Contra : Cost of road and equipment, $1,579,670 ; Chicago and Western Indiana sinking fund, $97,442 ; cash and current as- sets, $345,502 — total, $2,022,614. Directors (elected June 3, 1902). — W. H. Lyford, W. O. Johnson, W. H. McDoel, Chicago, 111.; E. B. Pryor, St. Louis, Mo. ; Charles M. Hays, Montreal, Que. OFFICERS : B. THOMAS, Pres. & Gen. Mgr.; Edgar A. Bancroft, Yice-Pres. & Gen. Solicitor; M. J. Clark, Sec. & Aud.; John E. Murphy, Treas., Chicago, 111. GENERAL OFFICE, Chicago, 111. BIG FALLS RY. — Hunting to Comet, Wis., 15 miles, of which 9 'miles owned and 6 miles leased from Wall-Spaulding Lumber Co. Gauge, 4 ft. 8J in. Chartered in Sept., 1895, and road built shortly afterwards. In 1898 an extension was built from Junction to Norske, 6 miles. Loco- motives, 2. Cars (box, 8; logging, 37), 45. Operations, year ending June 30, 1902. — Earnings (passenger, $500; freight, $7,729), $8,229. Operating expenses, $8,486. Loss from operation, $257. Total deductions, $532. Deficit, $789. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock, $1,000; chattel mortgage issued July 12, 1898, due Jan. 12, 1900, $7,715 ; profit and loss, $1,161 — total, $9,876. Contra : Cost of equipment, $7,857 ; cash, $46 ; current assets, $1,973 — total, $9,876. Directors. — James H. Wall, O. H. Thomas, Thomas R. Wall, Sophronia M. Wall, H. W. Authes, Oshkosh, Wis. OFFICERS: JAMES H. WALL, Pres.; S. M. Wall, Vice-Pres.; T. R. Wall, Sec. & Treas., Oshkosh, Wis. GENERAL OFFICE, Oshkosh, Wis. BOYNE CITY AND SOUTHEASTERN RR. — Boyne City to White's Headquarters Camp, Mich 1959 m. ; total track (steel; 30 and 40 Ibs.), 36.89 miles. Gauge, 4 ft. 81 in. Chartered May 3, 1893 ; road completed and opened for 13.12 m., Dec, 31, 1896 ; extended 4 m. in Nov., 1897 ; and 5 m. in 1898. Principally a logging road. Locomotives, 5. Cars — passenger, 1; freight (flat), 35 • other, 101 — total, 137. Operations, year ending Dec. 31, 1901. — Trains run (passenger, 9,151; freight, 42,278), 51 429 miles Passengers carried, 7,015 ; carried one mile, 49,105. Tons freight moved, 86,606 ; ton- miles 222276. Earnings (passenger, $1,684; freight, $54,912; other, $683), $57,279. Operating expenses and taxes, $35,548. Net earnings, $21,731. Paid interest on unfunded debt, $2,492. Sur- plus $19 239 ; surplus forward, $75,899 — total, $95,138. 446 POOR S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. General Balance Sheet, Dec. 31, 1901. — Capital stock ($384,000 auth. ; $100 shares), $70,000; unfunded debt, $42,794; profit and loss, $95, 138 — total, $207,932. Contra: Cost of road and equipment, $198,334 ; cash and current assets, $9,598 — total, $207,932. Directors. — Wm. H. White, Thos. White, Jas. A. White, Geo. White, R. V. White, L. D. Fair- child, W. L. Martin, Boyne City, Mich. OFFICERS : WM. H. WHITE, Pres. ; Thomas White, Vice- Pres.; Jas. A. White, Treaa. ; L. D. Fairchild, Sec. & Gen. Mgr., Boyne City, Mich. GENERAL OFFICE, Boyne City, Mich. CENTRAL INDIANA BY. — Muncie to Brazil, Ind., 127.4 m. ; total track, 145.37 miles. Gauge, 4 ft. 8J in. Rail (steel), 56, 60, 67 and 70 Ibs. Locomotives, 13. Cars — passenger, 3; combination, 2; freight (box, 74; coal, 197; flat, 2; dump, 47), 320; service, 4 — total, 325. Suc- cessor to the Chicago and Southeastern Ry. Co., whose property was sold under foreclosure on Feb. 19, 1903 (see MANUAL for 1902, page 418). Financial Statement, May 1, 1903. — Capital stock, $120,000. The stock is held in equal pro- portions by persons interested in the Pennsylvania Co. and the Cleveland, Cincinnati, Chicago and St. Louis Ry. Co. The company has executed a mortgage to the Central Trust Co. of New York, trustee, to secure $4,000,000 of 50-yr. 4 p. c. gold bonds, with which to pay the purchase money of the road and provide for betterments and equipment. Directors. — Joseph Robinson, M. E. Ingalls, C. E. Schaff, John T. Dye, Joseph Wood, J. J. Turner and Edward B. Taylor. OFFICERS: JOSEPH ROBINSON, Pres. & Treaa.; W. S. Parkhurst, Sec. & Aud.; D. F. Mustard, Cashier, Anderson, Ind.; S. H. Church, Asst. Sec.. Pittsburgh, Pa. GENERAL OFFICE, Muncie, Ind. CHICAGO AND WABASH VAJLLEY BE.— Kankakee River to McCoysburg, Ind., 26 m. ; Gifford to Asphaltum, Ind., 4 m. — total, 30 miles. Rail (steel), 60 Ibs. Gauge, 4 ft. 8j in. Locomotives, 2. Cars — passenger, 1; freight (box, 7; flat, 9), 16; tank, 2 — total, 19. Char- tered Sept. 10, 1898 ; road from Zadoc to Comer, 10 m., built in 1898 ; 15 m. additional built in 1900 ; completed as above in 1901. Connection is made at Zadoc with the Chicago and Eastern Illinois RR., and at Kersey with the Indiana, Illinois and Iowa RR. The road is intended to serve only an immediate local agricultural purpose and to ultimately become a section of a line to be built from Chicago to Lafayette. Capital stock ($100 shares), $200,000. No bonded debt. This road is under construction and the operations are included in construction account. Directors. — Benj. J. Gifford, James E. Jones, H. M. Stone, Charles D. Henry, W. C. Snyder, Kankakee, 111. (two vacancies). OFFICERS: BENJ. J. GIFFORD, Pres.; James E. Jones, Sec. & Treas.; E. E. Lewis, Supt., Kankakee, 111. GENERAL OFFICE, Kankakee, 111. CHICAGO, CINCINNATI AND LOUISVILLE BB. — Projected : Cincinnati, O., to Chi- cago, 111., 282 miles. Completed to July 1, 1903 : Ohio State Line to Beatrice, Ind., 207 miles. In operation, July 1, 1903 : Cottage Grove to Beatrice, Ind., 195 miles. The entire line, Cincinnati, O., to Chicago, 111., is expected to be completed about Nov. 1, 1903. Sidings, 25 miles. Gauge, 4 ft. 8J in. Rail (steel), 70 and 85 Ibs. Locomotives, 35. Cars — passenger, 23; baggage, 2; freight (box, 260; flat, 75), 335; service, 42 — total, 402. Contracts have been let for 27 locomotives and 200 box cars. Consolidation, June 1, 1903, of the Cincinnati, Richmond and Muncie RR. and The Cincinnati and Indiana Western RR. Co. The Cincinnati, Richmond and Muncie RR. was formed May 30, 1902, by the consolidation of a company of the same name (chartered March 23, 1900, and built the line from Ohio State Line to North Judson, Ind., 180.4 miles, which was completed through- out in 1902) with the Chicago and Cincinnati RR. (chartered Jan. 22, 1902, to build from North Judson, Ind., to Chicago, 111.). The Cincinnati and Indiana Western RR. Co. was chartered March 5, 1902, to build from Indiana State Line to Cincinnati, O., about 33 miles, Financial Statement, July 1, 1903. — Capital stock authorized, $4,350,000, to be issued to take up the capital stock of the constituent companies, of which there were outstanding on the date of consolidation, $3,306,000 of the C., R. & M. RR. and $900,000 of the C. & I. W. RR. Co. The com- pany will also issue 1st mtge. bonds to retire the outstanding bonds of the constituent companies as follows : $1,8O4,OOO 1st gold 5s of Cincinnati, Rich- mond and Muncie RR., due Oct. 1, 1950, interest April and Oct. at Old Colony Trust Co., Boston, Mass. Secured by first mortgage on the line from Ohio State Line to North Judson, Ind., 180.4 miles. The bonds are subject to redemption at 110 p. c. and accrued interest on any interest day after Oct. 1, 1910. $75O,OOO 1st gold 5s of Chicago and Cincinnati RR., due Feb. 1, 1952, interest Feb. and Aug., at Old Colony Trust Co., Boston, Mass. Secured on the line from North Judson to Hammond, Ind., 40 miles. $5OO,OOO 5 p. c. bonds of Hoosier Equipment Co., dated July 1, 1902, due $50,000 each 1st of July from 1903 to 1912, inclusive. Interest Jan. and July at Boston Safe Deposit and Trust Co., Bos- ton, Mass. Principal and interest guaranteed by Cincinnati, Richmond and Muncie RR. $9OO,OOO gen. gold 5s of Cincinnati, Richmond and Muncie RR., dated Jan. 1, 1903, due Jan. 1, 1951, interest Jan. and July at American Loan and Trust Co., Boston, Mass. Issued to meet the cost of betterments and permanent improvements to line from Ohio State Line to North Judson, Ind. Secured on that line, but subject to the 1st 5s of Oct. 1, 1950. The bonds are subject to re- demption at 110 p. c. and accrued interest on any interest day after Oct. 1, 1910. $(JOO,OOO 1st gold 5s of Cincinnati and Indiana Western RR. Co., dated June 1, 1902, due June 1, 1952, interest June and Dec. at Old Colony Trust Co., Boston, Mass. Secured on the line from Indiana State Line to Cincinnati, O., 33 miles. Directors. — W. A. Bradford, Jr., Roger N. Allen, Boston, Mass. ; Henry A. Christy, Sanger Brown, Chicago, 111. ; John A. S. Graves, Richmond, Ind. ; H. D. Peck, Frank H. Shaffer, Cincinnati, O. OFFICERS : W. A. BRADFORD, JR., Pres., Boston, Mass. ; Henry A. Christy, Vicc-Pres., Chicago, 111.; Roger N. Allen, Sec. & Treas., Boston, Mass.; John A. S. Graves, Asst. Sec. £ Asst. Treas.; W. I. Allen, Gen. Mgr.; J. F. Shepherd, Aud., Richmond, Ind. GENERAL OFFICE, Richmond, Ind. CHICAGO, INDIANA AND EASTEBN BY. — Projected : Converse to Richmond. Ind., 83 miles. Completed up to July 1, 1902 : Converse io Muncie, Ind., 43 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Chartered March 8, 1893; road opened to Muncie, Dec. 28, 1900. Under con- struction from Muncie to .Richmond. Locomotives, 9. Cars — passenger, 5 ; baggage, etc., 3 ; freight, 25 ; caboose, 2 — total, 35. Operations, year ending June 30, 1902. — Earnings (passenger, $40,521; freight, $63,888; other, $436), $104,845. Operating expenses, $60,584. Net earnings, $44,261. Total deductions from income, $53,586. Deficit for year, $9,325. Financial Statement, Jan. 1, 1903. — Capital stock paid in ($100 shares), $1,000,000. Funded debt outstanding, $500,000 ($1,000,000 auth.) 1st gold 5s of May 1, 1942, subject to call for sinking POOR'S MANUAL OF RAILROADS. 447 fund at 115 p. c. and accrued interest. The rest of the bonds are held by the trustee, to be issued only for new road. Estimated cost of road to completion, $1,645,000. Directors. — Paul Brown, H. E. Drew, Martin A. Devitt, John H. Miller, Clarence Knlghi, Chicago, 111. OFFICERS: PAUL BROWN, Pres.; H. E. Drew, Vice-Pres. & Gen. Mgr.; John H. Mil- ler, Sec. & Treas., Chicago, 111. GENERAL, OFFICE, Matthews, Ind. CHICAGO, KALAMAZOO AND SAGHNAW BY.— Pavilion, Mich., to Woodbury, Mich., 55.30 m. ; sidings, etc., 9.15 miles. Gauge, 4 ft. 8J in. Rail (steel), 56 and 60 Ibs. Chartered Dec. 10, 1887 ; road opened Kalamazoo to Woodbury, Sept. 1, 1889. Extension to Pavilion opened Dec. 1, 1901. Projected to Saginaw, 125 m. from Kalamazoo. Locomotives, 5. Cars — passenger, 3 ; baggage, etc., 3; freight (box, 12; flat, 10), 22; service, 18 — total cars, 46. Operations.— Not reported for year ending Dec. 31, 1902. For latest statement, see MANUAL for 1902, page 418. General Balance Sheet, Dec. 31, 1901 (latest rendered). — Capital stock, common ($2,000,000 auth. ; $100 shares), $675,000; preferred ($450,000 auth. ; $100 shares), $271,000; current accounts, $98,336 ; taxes accrued, $2,121 ; profit and loss, $53,165 — total, $1,099,622. Contra : Cost of road and equipment, $1,080,840 ; materials, $1,363 ; bills receivable, $650 ; current accounts, $12,563 ; cash, $4,206 — total, $1,099,622. Bond Issue. — On Dec. 1, 1895, the company executed a mortgage to the Union Trust Co., Detroit, Mich., as trustee, to secure an issue of $225,000 1st mtge. 6 p. c. 5-yr. $1,000 gold bonds, due Dec. 1, 1900. All of the bonds were in the treasury of the company at the date of the above statement, none of them having been sold, and it was intended to have them cancelled and the mort- gage discharged at an early date. Directors.— E. Woodbury, James H. Dewing, H. F. Badger, B. A. Bush, W. S. Dewing, Charles A. Dewing, Kalamazoo, Mich. ; Alfred E. Watson, Hartford, Vt. OFFICERS : E. WOODBURY, Pres.; James H. Dewing, Vice-Pres. & Gen. Mgr.; H. C. Potter, Sec. & Treas., Kalamazoo, Mich. GENERAL OFFICE, Kalamazoo, Mich. CHICAGO UNION TBANSFEB BY. CO.— Yard tracks, 100 miles. Rail (steel), 75 Ibs. Chartered Oct. 31, 1888. The company also owns 1,246.5 acres of land. This property is operated by the Chicago Transfer and Clearing Co. (incorporated) of 355 Dearborn St., Chicago, 111. Capital stock ($1,000,000 preferred, $1,000,000 common; $100 shares), $2,000,000. Directors (elected Oct. 7, 1902). — H. H. Porter, C. W. Hillard, E. W. Winter, New York, N. Y. ; J. T. Harahan, A. J. Barling, E. P. Ripley, M. J. Carpenter, H. H. Porter, Jr., W. H. Lyford, Ralph Isham, Chicago, 111. ; A. B. Stickney, St. Paul, Minn. OFFICERS : H. H. PORTER, JR., Pres.; M. J. Carpenter, Vice-Pres. ; Ralph Isham, Sec. & Treas.; James A. Lozier, Aud., Chicago, 111. GENERAL OFFICE, Tribune Building, Chicago, 111. CHIPPEWA VALLEY AND NOBTHEBN BY.— Completed up to July 1, 1903 : Brice, Wis., to Spur Five, 10 m. ; total track (steel; 60 Ibs.), 12 miles. Gauge, 4 ft. 8J in. Loco- motive, 1 ; logging cars, 12. Extensions are projected from Spur Five to Hayward, Wis., 36 miles, and from Spur Five to Weizor, 2 miles. The road is operated in connection with the lumber business of the Arpin Hardwood Lumber Co., of Atlanta, Wis. Capital stock paid in ($150,000 auth. ; $100 shares), $54,000; due Arpin Hardwood Lumber Co., $24,555 — total, repre- senting cost of road, $78,555. Directors. — D. F. Arpin, B. Arpin, Grand Rapids, Wis. ; F. Z. Arpin, A. L. Arpin, Atlanta, Wis. OFFICERS : D. F. ARPIN, Pres., Grand Rapids, Wis. ; F. Z. Arpin, Vice-Pres. ; Atlanta, Wis. ; B. Arpin, Sec. & Treas., Grand Rapids, Wis.; A. L. Arpin, Supt.; L. E. Kundson, Purch. Agt., Atlanta, Wis. GENERAL OFFICE, Grand Rapids, Wis. CINCINNATI AND WESTWOOD BB. — Cincinnati (Brighton) to Westwood, O.f 5.63m.; total track (steel; 60 Ibs.), 6.63 miles. Gauge, 4 ft. 8J in. Successor, after foreclosure sale, May 30, 1887, to a company of the same name. (See MANUAL for 1894, page 134.) Locomotive, 1. Cars (freight flat), 6. Operations, year ending June 30, 1902. — Earnings (freight), $4.184. Operating expenses, $7 155. Loss on operation, $2,971. Deductions : Interest on bonds, $6,000 ; taxes, $1,026 ; rentals, $1 471 — total, $8,497. Deficit, $11,468 ; deficit forward, $119,455 — total, $130,923. General Balance Sheet, June 30, 1902. — Capital stock ($200,000 auth.; $50 shares), $195,- 000; funded debt (1st 6s of Aug. 1, 1916), $100,000; bills payable, $61,420; interest accrued, $59,940 — total, $416,360. Contra : Cost of road and equipment, $210,345 ; real estate, $12,324 ; coupons of 1876 bonds (exchanged for stock), $55,000 ; cash and current assets, $7,768 ; profit and loss, $130,923 — total, $416,360. Directors (elected Aug., 1902). — J. N. Gamble, A. D. Shockley, J. W. Brown, D. B. Gamble Alex. Procter, A. K. Nippert, N. G. Hildreth, Cincinnati, O. OFFICERS : J. N. GAMBLE, Pres.; A. K. Nippert, Vice-Pres.; A. D. Shockley, Treas.; N. G. Hildreth, Sec., Cincinnati, O. GENERAL OFFICE, Union Trust Building, Cincinnati, O. COPPEB BANGE BB. — Houghton to Range June., Mich., 41.11 m. ; Mill Mine June, to Painesdale, 4.32 m. ; Mill Mine June, to Freda, 11.35 m. ; Greenland June, to Greenland, 2.69 m. ; Edgemere June, to Edgemere, 0.75 m. — total, 60.22 m. ; total track (steel; 75 Ibs.), 75.19 miles. Gauge, 4 ft. 8i in. Chartered Jan. 22, 1899 ; road opened Dec. 27, 1899 ; Mill Mine June, to Paines- dale, Jan. 6, 1901 ; other branches opened during 1902. Locomotives, 11. Cars — passenger, 7 ; baggage, etc., 2; freight (box, 19; flat, 100: rock, 98), 217 — total, 226. Operations, year ending June 30, 1902. — Trains run (passenger, 46,709; mixed, 81,204). 127,913 miles. Passengers carried, 121,646 ; carried one mile, 1,609,754. Tons freight moved, 278,879; ton-miles, 3,706,169. Earnings (passenger, $59,834; freight, $138,849; other, $9,129), $207,812. Operating expenses, $131,636. Net earnings, $78,176. Payments : Interest on bonds. $62,875; taxes, $3,595 — total, $66,470. Surplus, $9,706; surplus forward ($31,461, less deduc- tions during. year, $19,232), $12,229 — total, $21,935. General Balance Sheet, June 30, 1902. — Capital stock ($5,000,000 auth.; $100 shares), $2,605,100; funded debt (1st 5s of Oct. 1, 1949), $1,410,000; current liabilities, $161,679; inter- est accrued, $17,875 — total, $4,194,654. Contra : Cost of road and equipment, $4,084,378 ; materials, etc., $25,602 ; cash and current assets, $62,739 ; profit and loss, $21,935 — total, $4,194,654. Directors (elected June 17, 1903). — William A. Paine, Frederic Stanwood, Boston, Mass. ; James H. Seager, Hancock, Mich. ; Rufus R. Goodell, John H. Rice, R. T. McKeever, Houghton, Mich. ; Samuel L. Smith, Cameron Currie, Detroit, Mich. ; Frank McM. Stanton, Atlantic Mine, Mich. OFFICERS : WILLIAM A. PAINE, Pres., Boston, Mass. ; J. H. Seager, Vice-Pres., Hancock, 448 POOR'S MANUAL OP RAILROADS — CENTRAL NORTHERN GROUP. Mich.; Frederic Stanwood, Sec. & Trees., Boston, Mass.; E. H. Wright, Aud.; R. T. McKeever, Gen. Mgr., Houghton. Mich. GENERAL OFFICE, Hougbton, Mich. CRAWFORD AND MANISTEE RIVER RY.— Manistee River, Mich., to Forest termi- nus. 10 m. ; total track (steel ; 25 and 30 Ibs.), 13 miles. Gauge, 3 ft. Chartered Sept. 28, 1885; road opened Oct. 11, 1885. Locomotive, 1. Cars — freight (logging), 41; other, 2 — total, 43. Operations, year ending Dec. 31, 1902. — Trains run (freight), 12,765 miles. Tons freight moved, 51,920; ton-miles, 519,200. Earnings (freight), $15,024. Operating expenses, $14,864. Surplus, $160. Surplus forward, $7,185 — total, $7,345. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $50,000; profit and loss, $7,345 — total, $57,345, representing cost of road and equipment. Directors (elected Dec. 1, 1902). — James Dempsey, L. F. Dempsey, William Wente, Allen McKee, Manistee, Mich. ; Antoine E. Cartier, Ludington, Mich. OFFICERS : ANTOINE E. CARTIER, Pres.f Ludington, Mich.; James Dempsey, Vice-Pres. ; William Wente, Sec.; Lawrence F. Demp- sey, Treas., Manistee, Mich. ; N. Dowen, Gen. Supt., Dowen, Mich. GENERAL OFFICE, Manistee, Mich. DAYTON, LEBANON AND CINCINNATI RR. — Lebanon June, to Lebanon, O., 23.6 m. ; sidings, 0.5 mile. Rail (steel, 23 m.), 60 Ibs. Gauge, 4 ft. 8J ia. Chartered Jan. 29, 1899; road opened Jan. 1, 1893. Locomotives, 2. Cars — passenger, 2; freight (box, 6; flat, 25; stock, 10; coal, 6; gondola, 20), 67 — total, 69. Extension of Road and Additional Equipment. — On June 30, 1903, the road was In operation from Dayton to Lebanon, O., 29.5 miles; total track (steel; 60 and 70 Ibs.), 34.5 miles. Locomotives, 5. Cars — passenger, 2; freight (box, 6; flat, 25; stock, 10; coal, 36; gondola, 40), 117 — total, 119. Operations, year ending June 30, 1902. — Trains run (passenger, 13,990; freight, 4,815; mixed, 14,604), 33,409 miles. Passengers carried, 10,067 ; carried one mile, 158,498. Tens freight moved, 70,538; ton-miles, 836,957. Earnings (passenger, $3,838; freight, $17,715; other, $751), $22,304. Operating expenses, $22,695 ; taxes, $467 — total, $23,162. Deficit, $858 ; deficit for- ward, $19,280 — total, $20,138. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $2,000,000; current liabilities, $100,291 — total, $2,100,291. Contra: Cost of road and equipment, $349,210; current assets, $1,730,943 ; profit and loss, $20,138 — total, $2,100,291. New Stock and Bonds Issued. — In Sept., 1901, the capital stock was increased to $2,000,- 000, and there were issued $1,000,000 ($2,000,000 auth.) 1st mtge. 5 p. c. 20-yr. gold bonds, due Sept. 1, 1921, but subject to redemption (and cancellation) at 110 p. c. and accrued interest at any time after Sept. 1, 1906. There is provision for a sinking fund of 5 p. c. of gross earnings in the years 1907 to 1919, inclusive, to be invested in the bonds at the price of 110 p. c. and accrued inter- est, bonds to be drawn if not obtainable in the open market, and to be held alive in the sinking fund, but stamped " not negotiable." The proceeds of the additional stock and of the new bonds are to be used in extending the road to Cincinnati, in improving the terminal property in Dayton (which con- sists of 45 acres adjoining the present Union Station) and equipping the road for operation by elec- tricity, as well as steam, as a motive power. Directors. — A. E. Appleyard, Geo. B. Appleton, H. D. Montgomery, Boston, Mass. ; C. A. Alderman, R. Emory, W. R. Pomerene, Columbus, O. ; Frank Brandon, Lebanon, O. ; J. B. Williams, Springfield O. OFFICERS : A. E. APPLEYARD, Pres., Boston, Mass. ; C. A. Alderman, Vice-Pres., Columbus, O. ; Geo. B. Appleton, Treas., Boston, Mass. ; Frank Brandon, Sec., Lebanon, O. GENERAL OFFICE, Dayton, O. DETROIT AND CBLARLEVOIX RR. — Frederick to South Arm, Mich., 43.5 m. ; Blue Lake June, to Blue Lake, Mich., 8 m. — total, 51.5 m. ; total track (steel ; 60 Ibs.), 55 miles. Gauge, 4 ft. 8i in. Chartered Jan. 2, 1901 ; road opened Sept. 15, 1901. Locomotives, 4. Cars — passenger, 2 ; freight (flat, 19 ; logging, 59), 78 — total, 80. Also 2 snow plows. Operations, period ending June 30, 1902. — Trains run (mixed), 22,010 miles. Passengers carried, 7,188 ; carried one mile, 159,103. Tons freight moved, 90,707 ; ton-miles, 2,929,366. Earnings (passenger, $3,978; freight, $28,327; other, $179 j, $32,484. Operating expenses, $35,- 693. Deficit from operations, $3,209. General Balance Sheet, June 30, 1902. — Capital stock ($525,000 auth. ; $100 shares), $473,- 100 ; current liabilities, $14,185 — total, $487,285. Contra : Cost of road and equipment, $400,000 ; other investments, $77,038 ; materials, etc., $3,345 ; cash and current assets, $3,823 ; profit and loss, $3,079 — total, $487,285. Directors. — Willis C. Ward, Elizabeth Ward, Orchard Lake, Mich. ; Franklin B. Ward, Bay City, Mich. ; Geo. K. Root, Deward, Mich. ; Henry C. Ward, Pontiac, Mich. OFFICERS : WILLIS C. WARD, Pres. & Treas., Orchard Lake, Mich. ; Franklin B. Ward, Vice-Pres., Bay City, Mich. ; Geo. K. Root, Sec.; Clark Haire, Gen. Mgr., Deward, Mich. GENERAL OFFICE, Deward, Mich. DETROIT UNION RR. DEPOT AND STATION CO. (THE).— Organized to supply station and depot accommodations at Detroit to railroads requiring them. The company's property consists of station grounds, about 40 acres, in the city of Detroit, and a railroad through the suburbs of the city about 3.33 miles in length. Terminal facilities are leased in perpetuity to the Wabash RR. Co. and the Pere Marquette RR. Co. Income Account, year ending Dec. 31, 1902. — Gross earnings, $115,433. Expenses, $21,530. Net income, $93,903. Deductions: Appropriation for contingent lund, $2,000; dividends (4 p. c.), $90,000 — total, $92,000. Balance to credit of profit and loss, $1,903 ; balance forward (amount at credit Jan. 1, 1902, $42,241 ; less construction items paid from earnings during the year and trans- ferred to surplus account, $300), $41,941 — total at credit, Dec. 31, 1902, $43,844. The balance in surplus on Jan. 1, 1902, was $119,669 ; add construction items paid from earnings during the year and transferred to surplus account, $300 — total surplus, $119,969. General Balance Sheet, Dec. 31, 1902. — Capital stock naid in ($2,500,000 auth.; $100 shares), $2,250,000; surplus, $119,969; accounts payable, $902; contingent liabilities, $7,000; profit and loss, $43,844 — total, $2,421,715. Contra : Construction, $2,369,969 ; bills receivable, $22,000 ; accounts receivable, $2,380 ; cash, $27,366 — total, $2,421,715. Directors. — James McMillan, Allan Shelden, James Joy, Wm. C. McMillan, Richard P. Joy, Truman H. Newberry, Theodore D. Buhl, Henry B. Joy. OFFICERS : HENRY B. JOY, Pres. & Treas. ; James Joy, Vice-Pres. ; James G. Miller, Sec., Detroit, Mich. GENERAL OFFICE, Newberry Building, Detroit, Mich. DETROIT AND TOLEDO SHORE LINE RY. — Toledo, O., to Detroit, Mich., 49.6 m. ; 2d track, 18.5 m. ; total track (steel; 80 Ibs.), 70 miles. Gauge, 4 ft. 8J in. Locomotives, 2; freight POOR'S MANUAL OP RAILROADS. 449 cars, 30. Chartered in 1899 ; road opened throughout on June 1, 1903. Owned Jointly by the Grand Trunk Western Ry. Co. and the Toledo, St. Louis and Western RR. Co. Financial Statement, June 30, 1903. — Capital stock ($30,000 per mile auth. ; $100 shares) $1,428,000 ; funded debt (1st gold 50-yr. 4s of Jan. 1, 1953 ; $3,000,000 auth.), $1,900,000 — total, representing cost of property, $3,328,000. The stock is owned by the Grand Trunk Western Ry. Co. and the Toledo, St. Louis and Western RR. Co., each one-half. The bonds, both principal and inter- est, are guaranteed, jointly and severally, by the same companies. The bonds outstanding were issued to pay part of the purchase price of the railroad ; the unissued bonds are reserved for exten- sions and betterments. Trustee : Mercantile Trust Co., New York, N. Y. Directors. — Chas. M. Hays, P. W. Morse, Montreal, Que. ; Benjamin Norton, Clarence Brown, Toledo, O. ; James L. Frazier, Frankfort, Ind. ; A. B. Atwater, Detroit, Mich. OFFICERS : CHAS. M. HAYS, Pres., Montreal, Que. ; Guy M. Walker, Vice-Pres., New York, N. Y. GENERAL OFFICE, Detroit, Mich. DRUMMOND AND SOUTHWESTERN BY.— Drummond, Wis., to Sec. 9, Town 44, Range 8 W., 9.25 m. ; Sec. 11, Town 44 to Sec. 26, Town 43, Range 8 W., 9.22 m. ; Sec. 32-45-7 to Sec. 35-45-8, 3.25 m. — total, 21.72 m. ; total track (steel ; 56 Ibs.), 31.72 miles. Gauge, 4 ft. 81 in. Chartered Aug. 3, 1891; opened as above, Dec., 1897. Locomotives, 3. Cars (flat, 3; logging, 75; caboose, 1), 79. Operations, year ending June 30, 1902. — Earnings (freight), $18.266. Operating expenses, $17,140. Net earnings, $1,126. Paid interest on bonds, $3,000. Deficit, $1,874; deficit forward, $2,882 — total, $4,755. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $10,000; funded debt (1st 6s of Nov. 2, 1921), $50,000; current liabilities, $115,322 — total, $175,332. Contra: Cost of road and equipment, $170,281; materials, etc., $295; profit and loss, $4,756 — total, $175,332. Directors. — F. W. Gilchrist, Alpena, Mich. ; John S. Owen, A. J. Rust, W. A. Rust, Eau Claire, Wis. ; Frank H. Drummond, Drummond, Wis. OFFICERS : PRANK W. GILCHRIST, Pres., Alpena, Mich. ; A. J. Rust, Vice-Pres., Eau Claire, Wis. ; Frank H. Drummond, Sec. & Treas., Drummond, Wis. GENERAL OFFICE, Drummond, Wis. DUNBAR AND WAUSAUKEE RY. — Girard June, to a point 4 miles northwest of Dun- bar, Wis., 17.5 miles. Gauge, 4 ft. 8| in. Rail (steel), 56 Ibs. Organized March 13, 1882; road built in 1894. A logging road owned by the Girard Lumber Co. Locomotives, 3. Cars — passenger, 1; freight (flat), 20; other, 70 — total, 91. The company has no indebtedness. Cost of road to June 30, 1902, $131,503. Operations, year ending June 30, 1902. — Earnings (passenger, $992; freight, $21,756), $22,748. Operating expenses, $6,037. Net earnings, $16,711. Directors. — W. C. Culbertson, Girard, Pa. ; J. W. Wells, J. A. Culbertson, Menominee, Mich. OFFICERS: W. C. CULBERTSON, Pres., Girard, Pa.; J. W. Wells, Vice-Pres.; J. A. Culbertson, Sec. & Treas., Menominee, Mich. ; W. R. Godshall, Aud. ; J. L. Wells, Gen. Supt., Dunbar, Wis. GENERAL OFFICE, Menominee, Mich. EAST JORDAN AND SOUTHERN RR.— East Jordan to Bellaire, Mich., 19.2 m. ; total track (steel ; 40 and 60 Ibs), 27.2 miles. Gauge, 4 ft. 81 in. Chartered July 9, 1901 ; road opened Oct. 1, 1901. Locomotives, 4. Cars — passenger, 2; combination, 1; freight (box, 2; flat, 7; log- ging, 112), 121; service, 2 — total, 126. Operations, year ending Sept. 30,1902. — Trains run (passenger, 17,416; freight, 10,296), 27,71- miles. Earnings (passenger, $4,585 ; freight, $42,740 ; other, $722), $48,047. Operating expen es and taxes, $33,386. Net earnings as surplus, $14,661. G meral Balance Sheet, Sept. 30, 1902. — Capital stock ($250,000 auth.; $100 shares), $12,500 ; current liabilities, $10 ; East Jordan Lumber Co. for construction. $172,473 ; profit and loss, $14,661 — total, $199,644. Contra: Cost of road and equipment, $195,485; materials, etc., $1,32? cash and current assets, $2,834 — total, $199,644. T> rectors. — C. L. Ames, Chicago, 111. ; W. P. Porter, A. H. Frost, G. G. Brown, G. H. Frost, East Jordan, M>ch. OFFICERS: W. P. PORTER, Pres. & Gen. Mgr.; C. L. Arnes, Vice-Pres.; A. H. Frost, Treas. & Sec.; G. G. Brown, Aud.; E. J. Grossman, Traf. Mgr., East Jordan, Mich. GENERAL OFFICI,, East Jordan, Mich. EAST 3T. LOUIS CONNECTING RY.— Trendly Ave. to Winters Ave., East St. Louis, 111.. 1.15 m. ; sidings, etc., 34.72 miles. Gauge, 4 ft. 8* in. Rail (steel, 35.87 m.), 50 to 75 Ibs. Char- tered De«. 26, 1877 ; opened Oct. 28, 1879. Locomotives, 10. Service cars, 2. Opeiations. year ending June 30, 1902. — Earnings (switching), $282,550. Operating expenses, $197,774. Net earnings, $84,776. Payments: Interest on debt, $14,173 ; taxes, $2,448 ; rental for right of way, $67,709 — total, $84,330. Surplus, $44S; surplus forward, $160,456 — total, $160,902. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $20,000; current lia- bilities, $297,412 ; profit and loss, $160,902 — total, $478,314, representing cost of road and equipment. Directors. — W. K. Kavanaugh, E. B. Pryor, C. H. Beggs, C. A. Goodnow, H. W. Cox, H. D. Sexton, and Henry Sackman. OFFICERS : W. K. KAVANAUGH, Pres.; E. B. Pryor, Vice-Pres.; 3. E. Gathright, Sec. & Treas., St. Louis, Mo. ESCANABA AND LAKE SUPERIOR RR. — Wells, Mich., to Channing, Mich., 63.05 m. ; White to Camp 31, 5.41 m. ; Northland to Kates, 18 m. — total, 86.46 m. ; total track (steel ; 40, 50, and 60 Ibs), 109 miles. Gauge, 4 ft. 81 In. Chartered as E. & L. S. Ry. Co., Nov. 17, 1898; road from Escanaba to Watson, and 10 miles of branches, in all 41 miles, opened Jan. 1, 1900 ; extension from Watson to Channing, and about 7 miles of branch line, completed in November, 1900. Reor- ganized under present title in March, 1901. Connection is made at Channing with the Chicago, Mil- waukee and St. Paul Ry., and a contract has been made under which the C., M. & St. P. Ry. Co. has the right for twenty years to use this line from Channing to Escanaba. Locomotives, 6. Cars — pas- senger, 3; freight and other. 170 — total, 173. Capital stock ($100 shares), $693,000. Operations, year ending June 30, 1902. — Earnings (passenger, $18,642; freight. $120,351; other, $51,279), $190,272. Operating expenses, $106,741. Net earnings, $84,531. Total deduc- tions, $3,147. Surplus for year, $81,384. Directors. — Isaac Stephenson, H. J. Brown, Marinette, Wis. ; H. A. J. Upham, Milwaukee, Wis. ; J. W. Wells, Geo. P. Eisman, Menominee, Mich. OFFICERS : ISAAC STEPHENSON, Pres. ; H. J. Brown, Vice-Pres., Marinette, Wis. ; J. W. Wells, Gen. Mgr., Menominee, Mich. ; H. A. J. Upham, Sec. & Treas., Milwaukee, Wis. ; W. E. Wells, Gen. Supt., Wells, Mich. GENERAL OFFICE, Wells, Mich. EVANS VILLE SUBURBAN AND NEWBURGH RY.— Evansville to Newburgh, Ind., 10 m. ; total track, 11.5 miles. Rail (steel), 40 Ibs. Gauge, 4 ft. 81 In. Chartered Dec. 16, 450 POOR S MANUAL OF RAILROADS CENTRAL NORTHERN GROUP. 1887; road opened as above June 1, 1889. Locomotives, 3. Cars. — passenger, 12 ; freight (box, 2 ; coal, 26), 28— total, 40. Operations, year ending June 30, 1902. — Trains run (passenger, 30,000; mixed, 7,000; other, 1,000), 38,000 miles. Passengers carried, 97,737 ; carried one mile, 977,370. Tons freight moved, 17,230; ton-miles, 172,300. Earnings (passenger, $11,285 ; freight, $7,281 ; other, $465), $19,031 Operating expenses, $12,675. Net earnings, $6,356 ; other receipts, $225 — total, $0,581. Payments : Interest on floating debt, $674 ; taxes, $1,008 ; other charges, $792 — total, $2,474. Surplus, $4,107. General Balance Sheet, June 30, 1902. — Capital stock ($60,000 auth. ; $100 snares), $51,- 800; current liabilities, $11,500 — total, $63,300. Contra: Cost of road and equipment, $150,000; real estate, $7,200 — total, $157,200. Directors (elected July 7, 1902). — F. W. Cook, Geo. A. Cunningham, Lee Howell, Chas. W. Cook, Jos. B. Cox, Gus Muhlhausen, Evansville, Ind. ; C. F. Hopkins, Newburgh, Ind. OFFICERS : F. W. COOK, Pres.; Lee Howell, Vice-Pres. & Treas.; Gus Muhlhausen, Sec. & Gen. If.gr. t Evans- ville, Ind. GENERAL OFFICE, Evansville, Ind. FAIRCHILD AND NORTHEASTERN RY. — Fairchild to a point 3 m. northeast of Shilling, Wis., 33 m. ; total track, 35 miles. Gauge, 5 ft. 8J in. Reorganization, July 7, 1898, of the Chicago, Fairchild and Eau Claire River RR. (See MANUAL for 1896, page 158.) The road is owned by the N. C. Foster Lumber Co. The extension from Greenwood to Shilling, Wis., 4.2 m., was completed in Dec., 1898 ; from Shilling to a point northeast, 3 m., was completed Nov. 15, 1899. Locomotives, 4. Cars — passenger, 2; freight (box, 4; flat, 60), 64; other, 5 — total, 71. All funds collected are turned over to the N. C. Foster Lumber Co., owner. Cost of road, $207,865 ; rolling stock, $28,029 — total, $235,894. Capital stock authorized, $25,000. Operations, year ending June 30, 1902. — Passengers carried, 4,061 ; carried one mile, 75,949. Tons freight moved, 78,362; ton-miles, 833,905. Earnings (passenger, $3,581; freight, $33,532), $37,113. Operating expenses, $18,940. Net earnings, $18,173. Directors. — Not reported. OFFICERS: N. C. FOSTER, Pres. ; E. J. Foster, Vice-Pres.; G. A. Foster, Treas. & Sec.; C. M. Sherwood, Traffic Mgr. & Aud.; Willard Foster, Gen. Supt., Fairchlld, Wls. GENERAL OFFICE, Fairchild, Wis. FULTON COUNTY NARROW GAUGE RY,— Havana, 111., to Fairview, 111., 31 m. : Fulton County Extension Ry. (leased), 30 m. — total, 61 m. ; total track, 63.40 miles. Gauge, 3 ft. Rail — iron, 35 Ibs. ; steel (22.21 m.), 56 and 60 Ibs. Chartered Aug. 13, 1878; road opened Nov. 1, 1880 ; extension, Aug. 20, 1882. The Fulton County Extension Ry. is leased for 30 p. c. of gross earnings. Locomotives, 4. Cars — passenger, 4; baggage, etc., 1; freight (box, 41; stock, 25; flat, 18; coal, 75), 159; service, 8 — total cars, 172. Operations, year ending June 30, 1902. — Trains run (passenger, 39,602; mixed, 39,248), 78,850 miles. Passengers carried, 40,474 ; carried one mile, 633,100. Tons freight moved, 37,918 ; ton-miles, 1,118,027. Earnings (passenger, $17,621; freight, $26,963; other, $7,474), $52,058. Operating expenses, $50,001. Net earnings, $2,057. Payments : Interest on bonds, $33,880 ; taxes, $2,830 ; other charges, $8 — total, $36,718. Deficit, $34,661 ; deficit forward, $662,593 — total, $697,254. General Balance Sheet, June 30, 1902. — Capital stock (F. C. N. G. Ry., $375,894; F. C. E. Ry., $260,900), $636,794; funded debt, $484,000; interest accrued, $707,698; current accounts, balance, $1,091 — total, $1,829,583. Contra: Cost of road and equipment. $1,121,510; income ac- count, $1,177 ; materials, etc., $3,218 ; cash on hand, $6,424 ; profit and loss, $697,254 — total. $1,829,583. The authorized capital stock of the F. C. N. G. Ry. is $500,000, in $25 shares ; and of the F. C. E. Ry., $1,000,000, in $100 shares. Funded debt, June 30, 1902, consisted of $171,000 ($500,000 auth.) 1st F. C. N. G. Ry. 7s of Nov. 1, 1910, and $313,000 ($1,000,000 auth.) 1st F. C. E. Ry. 7s of July 1, 1912. RAILROAD LEASED BY THE FULTON COUNTY NARROW-GAUGE RY. Co. Fulton County Extension Ry. — Fairview to Galesburg, 111., 30 m. ; total track, 31.91 miles. Chartered Feb., 1881 : road opened July, 1882. Leased for 30 years, from June, 1882, to the Fulton County Narrow Gauge RR. Co., the rental be- ing 30 p. c. of gross earnings. Financial statement included in that of Fulton Co. N. G. Ry. Co. S. H. Mallory, Pres. ; F R. Crocker, Treas., Chariton, la. ; J. A. Westblade, Sec., Lewis- town, 111. Office, Lewlstown, 111. Directors (F. C. N. G. Ry. Co.). — W. G. Sharretts, H. M. Waggoner. J. A. Westblade, Lewis- town, 111.; S. H. Mallory, Chariton, la.; Allan Mallory, Creston, la. OFFICERS: S. H. MALLOR*. Pres. & Gen. Mgr.; W. G. Sharretts, Vice-Pres., Lewistown, 111.; F. R. Crocker, Treas., Chariton, la. ; J. A. Westblade, Sec., Lewistown. 111. GENERAL OFFICE, Lewistown, 111. HAWTHORNE, NEBAGAMON AND SUPERIOR RR.— Hawthorne to Nebagamon. Wis. ; 7.35 m. ; various branches, 17.65 m. ; total, 25 m. ; total track (steel), 27 miles. Gauge, 4 ft. 8i in. Rail, 55 Ibs. Chartered Aug. 4, 1898 ; road opened Jan. 1, 1899. Owned by the Ne- bagamon Lumber Co. Locomotives, 7. Cars — freight (box, 2 ; log, 151), 153 ; caboose, 2 ; total, 155. Operations, year ending June 30, 1902. — Trains run (freight, 23,400; mixed, 9,600; other, 6,864), 39,864 miles. Passengers carried, 838; carried one mile, 20,950. Tons freight moved, 293,750; ton-miles, 7,343,750. Earnings (passenger, $209; freight. $52,119; other, $1,391), $53,719. Operating expenses, $34,777. Net earnings, $18,942. Paid taxes, $387. Surplus, $18,- 555 ; surplus forward, $22,596 — total, $40,851. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; current lia- bilities, $18,143 ; profit and loss, $40,851 — total, $108,994, representing cost of road and equip- ment. Directors. — E. Rutledge, E. L. Ainsworth, Chippewa Falls, Wis. ; F. Weyerhauser, St. Paul, Minn. ; J. P. Weyerhauser, Lake Nebagamon, Wis. OFFICERS : E. RUTIEDGE, Pres., Chippewa Falls, Wis. ; F. Weyerhauser, Vice-Pres., St. Paul, Minn. ; E. L. Ainsworth, Sec. and Treas., Chippewa Falls, Wis. ; William O'Neil, Supt., Lake Nebagamon, Wis. GENERAL OFFICE, Lake Nebagamon, Wis. HAZEIjHURST AND SOUTHEASTERN RY.— Hazelhurst to Tomahawk Lake, Wis., 10 m. ; Austin to Newman Lake, Wis., 7 m. — total, 17 miles. Sidings, 1 mile. Gauge, 4 ft. 8J in. Rail (steel), 50 Ibs. Chartered Jan. 30, 1896; road opened as above Oct. 25, 1896. Locomotives, 2. Cars — combination, 1 ; caboose, 1 ; other, 63 — total, 65. Operations, year ending June 30, 1902. — Trains run (mixed), 18,000 miles. Passengers car- ried, 1,778 ; carried one mile, 16,382. Tons freight moved, 140,895 ; ton-miles, 887,013. Earn- ' POOR'S MANUAL OF RAILROADS. 451 ings (passenger, $786; freight, $20,970), $21,756. Operating expenses and taxes, $31,303. Deficit for year, $9,547. Surplus forward, $11,586. Net surplus, $2,040. General Balance Sheet, June 30, 1902. — Capital stock ($25 shares), $100,000; current lia- bilities, $9,906; profit and loss, $2,040 — total, $111,946. Contra: Cost of road, $86,314; equip- ment, $22,321 ; cash and current assets, $3,311 — total, $111,946. Directors. — W. C. Yawkey, W. H. Yawkey, C. C. Yawkey, H. L. Tibbits, L. H. Wheeler, Hazel- hurst, Wis. OFFICERS : W. C. Yawkey, Pres. ; C. C. Yawkey, Vice-Pres. & Gen. Mgr. ; L. H. Wheeler, Sec. & Aud.; W. H. Yawkey, Treas., Hazelhurst, Wis. GENERAL OFFICE, Hazelhurst, Wis. HECLA AND TORCH LAKE RR.— Calumet to Lake Linden, Mich., 6 m. ; Hecla to Calu- met, Mich., 0.5 m. ; Hecla to South Hecla, Mich., 1 m. — total, 7.5 m. ; total track (steel, 10 m.), 14.91 miles. Rail, 40 to 70 Ibs. Gauge 4 ft. 1 in. Chartered March 8, 1868; opened in Oct., 1868. Operated and wholly owned by the Calumet and Hecla Copper Mining Co., which pays any deficit that may occur for the privilege of having its ore transported free. Locomotives, 13. Cars — passenger, 1 ; freight (box, 4 ; flat, 80 ; coal, 57 ; ore, 639), 780 ; other, 70 — total, 851. Operations, year ending Dec. 31, 1901. — Trains run (freight), 28,170 miles. Tons freight moved, 1,309,803; ton-miles, 9,823,557. Earnings (freight), $153,229. Operating expenses and taxes, $161,350. Deficit, $7,509. General Balance Sheet, Dec. 31, 1901. — Capital stock, ($150,000 auth. ; $100 shares), $100,- 000 ; unfunded debt, $1,389,782 — total, $1,489,782. Contra : Cost of road, etc., $1,489,782. Directors. — Alexander Agassiz, Cambridge, Mass.; Quincy A. Shaw, Jr., Boston, Mass.; James Macnaughton, W. M. Gibson, Will A. Childs, Calumet, Mich. OFFICERS : ALEXANDER AGASSIZ, Pres., Boston, Mass. ; James N. Cox, Sec. & Treas. ; James Macnaughton, Gen. Mgr., Calumet, Mich. GENERAL OFFICE, Calumet, Mich. ILLINOIS TERMINAL RR. — Alton to Hartford, 111., 6 m : leased, Wabash RR., Hart- ford to Edwardsville June., 7.1 m. ; trackage, Wabash RR., Edwardsville June, to Edwardsville, 1.6 m. — total, 14.7 miles. Sidings, etc., 11.3 miles. Gauge, 4 ft. 8J in. Rail (steel), 70 Ibs. Chartered July 6, 1895 ; road opened Feb. 22, 1896 ; extension Nov. 26, 1899. This road was built for the purpose of supplying terminal facilities to the railroads entering the city of Alton, and also for the purpose of developing the manufacturing interests of that city. Locomotives, 3. Cars — passenger, 1; freight (coal), 100; service, 4 — total, 105. Operations, year ending June 30, 1902. — Trains run (passenger, 21,900; mixed, 18,000), 39,900 miles. Passengers carried, 44,221 ; carried one mile, 530,493. Tons freight moved, 143,- 888; ton-miles, 1,726,656. Earnings (passenger, $9,522; freight, $47,580; other, $4,987), $62,089. Operating expenses, $44,135. Net earnings, $17,954; other receipts, $1,717 — total, $19,671. Pay- ments : Interest on bonds, $9,250 ; other interest, $19 ; taxes, $2,226 )• rentals, $4,667 — total, $16,162. Surplus, '$3,509 ; deficit forward, $5,315 — net deficit, $1,806. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $200,000; funded debt (1st 5s of 1921), $185,000 ;. current liabilities, $26,510 — total, $411,510. Contra: Cost of road and equipment, $197,484 ; stock given with bonds, $200,000 ; cash and current assets, $12,220 ; profit and loss, $1,806 — total, $411,510. Directors.— W. E. Smith, C. Levis, R. H. Levis, H. H. Ferguson, Geo. M. Levis, Alton, 111. OFFICERS : WILLIAM ELIOT SMITH, Pres. ; Geo. M. Levis, Vice-Pres. ; R. H. Levis, Treas. ; Chas. Levis, Sec.; H. H. Ferguson, Gen. Mgr., Alton, 111. GENERAL OFFICE, Alton, 111. ILLINOIS SOUTHERN RY. (THE).— Main Line: Salem to Chester, 111., 84.2 m. ; branch, Sparta to Rosborough, 111., 5.0 m. — total owned, 89.2 miles. Trackage : Illinois Central RR., Centralia to Branch Junction, 111., 2.9 m. — total operated, 92.1 miles. Sidings (owned), 9.5 miles. Gauge, 4 ft. 8i in. Rail (steel), 60, 70, and 75 Ibs. Successor, after foreclosure sale, May 16, 1900, to the Centralia and Chester RR. Co. (see MANUAL for 1899, page 373). The new company assumed possession on June 1, 1900. Locomotives, 8. Cars — passenger, 3 ; baggage, etc., 3 ; freight (box, 24; flat, 25; coal, 50), 99; service, 38 — total cars, 143. Operations, year ending June 30, 1902. — Trains run (passenger, 130,353; freight, 72,373; other, 35,209), 237,935 miles. Passengers carried, 74,706; carried one mile, 1,613,174. Tons freight moved, 145,956; ton-miles, 5,000,143. Earnings (passenger, $35,394; freight, $90,334; other, $9,405), $135,133. Operating expenses, $106,724. Net earnings, $28,409. Payments: In- terest on bonds, $30,000 ; other interest, $2 ; taxes, $8,139 — .total, $38,141. Deficit for year, $9,- 732; deficit forward ($7,542; less unclaimed wages, 1901, $52), $7,490 — total, $17,222. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $2,000,000; funded debt (1st 4s of Oct. 1, 1951; $2,000,000 auth.), $1,025,000 ; bills payable, $60,000 ; current liabilities, $80,884; interest accrued, not due, $10,250; equipment notes, $3,050 — total, $3,179,184. Contra: Cost of road and equipment, $2,997,074 ; materials, etc., $114,725 ; cash and current assets, $50,- 163 ; profit and loss, $17,222 — total, $3,179,184. Directors. — J. R. Walsh, J. W. Walsh, C. F. Weinland, L. A. Walton, A. F. Hatch, Wm. Burry, Chicago, 111. ; W. S. Ingraham, Bristol, Conn. OFFICERS : J. W. WALSH, Pres. ; M. Rosenfeld, Vice-Pres.; A. F. Williams, Treas.; C. F. Weinland, Sec. & Aud., Chicago, 111. GENERAL OFFICE, 204 Dearborn St., Chicago, 111. INDIANA NORTHERN RR. — South Bend, Ind., to Myler, Ind., and switch tracks, 2 miles. 70-lb. steel rail. Gauge, 4 ft. 8J in. Chartered April 9, 1891 ; road opened Sept. 1, 1891. Operated as a belt line connecting the Lake Shore and Michigan Southern, the Chicago and Grand Trunk, the Terre Haute and Logansport, the Michigan Central and the Indiana, Illinois and Iowa Rys. with each other, and with various manufacturing plants at South Bend, Ind. Locomotives, 2. Gross earnings, year ending June 30, 1902, $6,418. Operating expenses, $4,814. Net earnings, $1,604. Capital stock ($100 shares), $20,000. No funded or other debt. Directors (elected April 5, 1902). — James Oliver, Joseph D. Oliver, George Ford, A. G. Oliver, J. O. Ford, South Bend, Ind. OFFICERS: JAMES OLIVLR, Pres.; Joseph D. Oliver, Gen. Mgr., Treas. & Purch. Agt.; George Ford, Sec.; M. M. Matthews, Traf. Mgr., South Bend, Ind. GENERAL OFFICE, South Bend, Ind. INDIANAPOLIS UNION RY.— Line owned, 0.93 m. ; line leased, (Belt RR.; see ap- pended statement), 11.71 m. — total operated, 12.64 m. ; 2d track (owned, 0.93 m. ; leased, 9.39 m.), 10.32 m. ; sidings (owned, 3.08 m. ; leased, 7.52 m.), 10.60 miles. Gauge, 4 ft. 9 in. Rail (steel), 70 and 85 Ibs. Established in 1850. The Belt RR. is leased for 999 years from Oct. 1, 1882. This is a co-operative terminal road, providing terminal facilities and doing a switching business for the roads entering Indianapolis. For these accommodations a charge is made on a train and mileage basis equalling the expense of operation, and no more. In addition to the charge for operating expenses, each company using the property pays a fixed rental, out of which is paid 452 POOR S MANUAL OF RAILROADS — CENTKAL NORTHERN GROUP. interest on bonds, Belt RR. rental, and interest on invrstments of the proprietary companies. The capital is furnished by the P., C., C. & St. L. Ry. Co., T. H. & I. RR. Co., and C., C.( C. & St. L. Ry. Co. The following-named also use the property and have all privileges on the same terms as the proprietor companies : Peoria and Eastern ; Indianapolis and Vincennes ; Cincinnati, Indianapolis and Western ; Lake Erie and Western, and Chicago, Indianapolis and Louisville. Locomotives (4 owned), 14; caboose (owned), 1; work-train cars (leased, 10), 11 — total cars. 12. General Balance Sheet, June 30, 1902. — Capital stock paid in $861,817 ; funded debt ( 1st 4Js of May 1, 1926), $1,000,000; current liabilities, $67,369; bond interest accrued, $7,050; profit and loss, $203,723 — total, $2,139,959. Contra: Cost of road and equipment (including viaduct over tracks, costing $211,037, donated to City of Indianapolis), $1,861,817 ; sinking fund, $142,601 ; materials, etc., $14,820; cash and current assets, $120,721 — total, $2,139,959. RAILROAD LEASED BY THE INDIANAPOLIS UNION RY. Co. $60,000; dividends on stock (preferred, $30,000; common, $60,000), $90,000 — total, $150,000. Sur- plus, $46,011. Capital stock ($500,000 preferred; $1,000,000 common; $50 shares), $1,500,000. Funded debt (1st 6s of April 30, 1911), $1,000,000. S. E. Rauh, Pres. ; Julius A. Hanson, Vice- Pres. ; John H. Holliday, Sec. ; H. D. Lane, Aud., Indianapolis, Ind. Office, Indianapolis, Ind. Belt RR. and Stockyard (Indianapo- lis).— Around City of Indianapolis, Ind., 11.71 in. ; 2d track, 9.39 m. ; total track, 21.10 m. Loco- motives, 10. Freight cars, 10. Leased to the Indianapolis Union Ry. Co., for 999 years from Oct. 1, 1882. Income account, year ending Dec. 31, 1902. — Rental, $49,577 ; other receipts, $144,547 ; inter- est on investments, $800 ; interest account, $1,087 — total, $196,011. Payments : Interest on bonds, Board of Managers. I. H. Ry. — This board is composed of one representative from each railroad using the property. OFFICERS : JAMES MCCREA, Pres.. Pittsburgh, Pa. ; E. F. Osborn, Vice Pres., Cincinnati, O. ; W. T. Cannon, Treas., Purch. Agt. d Sec. ; J. E. Merion, Aud., Indianapolis, Ind. GENERAL OFFICE, Indianapolis, Ind. TOLA AND NORTHERN RY. — Scandinavia to lola, Wis., 4.7 miles. Gauge, 4 ft. 8J in. Steel rail. Organized May 9, 1893 ; road built in 1893. Locomotive, 1. Cars — combination, 1 ; freight (box, 1; flat, 3), 4 — total 5. Operations, year ending June 30, 1902. — Earnings (passenger, $1,226; freight, $4,243; other, $249), $5,718. Operating expenses, $5,763 ; other deductions, $29 — total, $5,792. Deficit for year, $74. General Balance Sheet, June 30, 1902. — Capital stock ($1,700,000 auth. ; $100 shares), $71,400; current liabilities, $1,789 — total, $73,189. Contra: Cost of road and eQUipment, $69,210 ; cash and current assets, $3,636 ; profit and loss, $337 — total, $73,189. Directors. — Not reported: OFFICERS: S. S. PALMER, Pres., New York, N. Y. ; J. C Thurman, Aud. ; J. A. Jordan, Gen. Mgr., Green Bay, Wis. GENERAL OFFICE, Green Bay, Wis. IVORYDALE AND MILL CREEK VALLEY RY.— June. C. H. & D. Ry. & C., C., C. & St. L. Ry. at Ivorydale, O., and June. B. & O. S. W. Ry. at Ivorydale June., O., 6 miles ; 56-lb. steel rail. Gauge, 4 ft. 81 in. Chartered April 1, 1890 ; road opened in 1890. This company's business is exclusively switching, and most of it is done for the Procter & Gamble Co., from which corpora- tion the privileges are leased. Locomotives, 3. Cars (box, 7; flat, 7; rack, 5; coal, 1), 20. Capital stock ($100 shares), $100,000. Operations, year ending June 30, 1902. — Earnings (freight, $38,905; other, $30,717), $69,- 622. Operating expenses, $49,211. Net earnings, $20,411. Total deductions, $5,886. Surplus for year $14,525. Directors. — William A. Procter, William C. Procter, J. H. French, R. P. Buchanan, John M. Macdonald, Cincinnati, O. OFFICERS: R. P. BUCHANAN, Pres. & Gen. Mgr.; J. M. Macdonald, Sec. ; 3. H. French, Treas., Cincinnati, O. GENERAL OFFICE, Cincinnati, O. KEWATTNEE, GREEN BAY AND WESTERN RR.— Green Bay to Kewaunee, Wis., 36.7 m. ; sidings, 9.69 miles. Gauge, 4 ft. 81 in. Rail (steel, 36.7 m.), 60 and 70 Ibs. Chartered May 29, 1890 ; road opened Nov. 7, 1891. Locomotives, 2. Cars — passenger, 2 ; combination, 2 ; baggage, etc., 1 — total, 5. Operations, year ending June 30, 1902. — Passengers carried, 35,154 ; carried one mile, 737,- 981. Tons freight moved, 121,335; ton-miles, 3,741,967. Earnings (passenger, $25,322; freight, $57,477), $82,799. Operating expenses, $40,757. Net earnings, $42,C42. Payments: Interest on bonds, $20,400 ; taxes, $2,627 — total, $23,027. Surplus, $19,015 , surplus forward, $29,061 — total, $48,076. Deductions for year, $33,000. Net surplus June 30, 1902, ?15,076. General Balance Sheet, June 30, 1902. — Capital stock (co-nmon, $465,750; preferred, $199,200; $100 shares), $664,950; funded debt (1st 5s of June 1, 1921), $408,000; current liabil- ities, $35,683; profit and loss, $15,076 — total, $1,123,709. Contra: Cost of road and equipment, $1,096,025 ; cash and current assets, $27,684 — total, $1,123,709. Capital Stock. — Capital stock authorized : Common, $480,000 ; preferred, $200,000 — total, $680,000. Directors. — S. S. Palmer, Princeton, N. J. ; C. L. Blair, New York, N. Y. ; Mark T. Cox, East Orange, N. J. ; J. A. Jordan, J. C. Thurman, Green Bay, Wis. OFFICERS : S. S. PALMER, Pres., New York, N. Y. ; W. W. Cargill, Vice-Pres., La Crosse, Wis. ; Mark T. Cox, Sec. & Treas., New York, N. Y. ; J. A. Jordan, Gen. Mgr., Green Bay, Wis. GENERAL OFFICE, Green Bay, Wis. LAKTC SIDE AND MARBLEHEAD RR. — Danbury to Marblehead, O., 6.88 m. ; total track (steel; 60 and 75 Ibs.), 11.93 miles. Gauge, 4 ft. S'i in. Organized Aug. 17, 1886; roa~ opened Jan. 7, 1887. Locomotives, 3. Cars — passenger, 2; baggage, etc., 1; freight (box, 5; coal, 1), 6; service, 2 — total, 11. Operations, year ending June 30, 1902. — Trains run i passenger, 13,480; freight, 16,494; other, 42,122), 72,096 miles. Passengers carried, 15,657; carried one mile, 105,158. Tons freight moved, 829,808; ton-miles, 5,709,079. Earnings (passenger, $2,994; freight, $91,198; other, $320), $94,512. Operating expenses, $51,943. Net earnings, $42,569; other receipts, $726 — total, $43,295. Payments : Interest on bonds, $6,735 ; taxes, $1,683 — total, $8,418. Surplus, $34,877 • surplus forward, $112,411 — total, $147,288. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $150,000; funded debt (1st 6s of April 1, 1922, subject to call), $110,000; current liabilities, $19,825; interest ac- crued, $1,650; profit and loss, $147,288 — total, $428,763. Contra: Cost of road and equipment $333,835 ; securities owned, $4,955 : cash and current assets, $89,973 — total, $428,763. Directors (elected Sept. 24, 1902). — William Chisholm, J. H. Morley, Caleb E. Gowen Nor- POOR'S MANUAL OF RAILROADS. 453 man Kelley, Fred A. Beckwith, F. A. Sterling, W. D. Rees, L. C. Hanna, Cleveland, O. ; D. G. Cutler, Duluth, Minn. OFFICERS : NORMAN KELLEY, Pres.; Fred A. Beckwith, Vice-Pres.; Caleb B. Gowen, Treas. & Gen. ~M.gr. ; W. A. Pardee, Sec. & Aud., Cleveland, 0. GENERAI OFFICE, Cleveland, O. LAKE SUPERIOR TERMINAL AND TRANSFER RY.— In West Superior, Wis., 15.70 miles. Gauge, 4 ft. 8J in. Rail (steel), 80 Ibs. Chartered Oct. 17, 1883; road opened in June, 1887. This is a switching road, built for the purpose of transferring cars between the depots and tracks of the proprietary railway companies running into West Superior, Wis. Locomotives, 7. Operations, year ending June 30, 1902. — Earnings, $5,958 ; received from proprietary railroad companies, $62,494 — total, $68,452. Operating expenses, $56,285 ; taxes, $467 — total, $56,752. Net earnings, $11,700. Paid interest on bonds, $11,700. General Balance Sheet, June 30, 1902. — Capital stock ($1,200,000 auth. ; $100 shares), $94,200; funded debt (1st 6s of April 1, 1909; $500,000 auth.), $195,000; current liabilities, $7,760 ; interest accrued, $2,925 ; other liabilities, $10,812 — total, $310,697. Contra : Cost of road and equipment, $289,201 ; materials, etc., $1,351 ; cash and current assets, $8,459 ; other assets, $11,686 — total, $310,697. Directors (elected Oct. 20, 1902). — D. M. Philbin, West Superior, Wis.; L. W. Hill, Thos. Cooper, Emerson Hadley, W. A. Scott, St. Paul, Minn. ; W. F. Fitch, Marquette, Mich. OFFICERS : D. M. PHILBIN, Pres., West Superior, Wis. ; W. F. Fitch, Vice-Pres., Marquette, Mich. ; H. H. Park- house, Sec. & Treas., St. Paul, Minn. ; C. P. Brown, Supt., West Superior, Wis. GENERAL OFFICE, St. Paul, Minn. LAKE SUPERIOR AND ISHPEMINO- RY. — Presque Isle (Marquette) to Ishpeming, Mich., 19.94 m. ; sundry branches, 1.07 m. ; leased C. & N. W. Ry., C. & N. W. Con. to Cleveland Lake Con., 0.92 m. — total, 21.93 m. ; total track (owned, 30.03 m.), 30.95 miles. Gauge, 4 ft. 8J in. Rail (steel), 80 Ibs. Chartered Sept. 12, 1895; road opened as above Aug. 12, 1896. Locomotives, 14. Cars — passenger, 4; freight (flat, 20; coal, 490), 510; caboose, 4 — total, 518. Operations, year ending Dec. 31, 1902. — Trains run (passenger, 11,724; freight, 69,998), 81,722 miles. Passengers carried, 7,154; carried one mile, 114,394. Tons freight moved, 1,698,- 867; ton-miles, 35,673,743. Earnings (passenger, $1,695; freigLt, $183,890; other, $999), $186,- 584. Operating expenses, $142,644. Net earnings, $43,940 ; other receipts, $18,726 — total, $62,- 666. Paid : Taxes, $19,270. Surplus, $43,396 ; surplus forward, $189,328 — total, $232,724. Q-eneral Balance Sheet, Dec. 31, 1902. — Capital stock $100 shares), $1,000,000; funded debt (1st 6s of Jan. 1, 1926; $1,200,000 auth.), $500,000; bills payable, $143,750; taxes, $19,165; other liabilities, $695,621 ; profit and loss, $232,724 — total, $2,591,260. Contra : Cost of road and equipment, $2,408,373 ; materials, etc., $19,963 ; cash and current assets, $162,924 — total, $2,591,- 260. Directors (elected Feb. 10, 1903). — Jas. Laughlin, Jr., B. F. Jones, Jr., Pittsburgh, Pa. ; Wm. G. Pollock, J. H. Hoyt, Wm. G. Mather, Cleveland, O. ; J. H. Wade, New York, N. Y. ; H. R. Harris, Marquette, Mich. OFFICERS : WM. G. MATHER, Pres., Cleveland, O. ; Jas. Laughlin, Jr., Vice-Pres., Pittsburgh, Pa.; W. G. Pollock, Treas.; J. H. Hoyt, Sec., Cleveland, O. ; H. R. Harris, Gen. Mgr.< Marquette, Mich. GENERAL OFFICE, Marquette, Mich. LA SALLE AND BUREAU COUNTY RR. — La Salle, 111., to near June, of the C. & N. W. Ry., and the C., B. & Q. in Bureau Co., 6.35 m. ; total track (steel; 65 Ibs.), 7.10 miles. Gauge, 4 ft. 8i in. Chartered Aug. 30, 1890 ; road built in 1892 and opened Oct., 1893. Operated by Mat- thiessen & Hegeler Zinc Co. Owns no rolling stock. Operations, year ending June 30, 1902. — Trains run (freight), 7,925 miles. Tons freigfct moved, 141,685; ton-miles, 396,000. Earnings (freight), $17,844. Operating expenses, $10,357. Net earnings, $7,487. Payments: Taxes, $878; dividends (6 p. c.), $3,000 — total, $3,878. Sur- plus, $3,609 ; surplus forward, $18,212 — total, $21,821. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; current lia- bilities, $6 ; profit and loss, $21,821 — total, $71,827. Contra : Cost of road and equipment, $47,- 785 ; cash and current assets, $24,042 — total, $71,827. Directors. — Edward C. Hegeler, New York, N. Y. ; F. W. Matthiessen, G. Weerts, Charles Dlesterweg, George P. Blow, La Salle, 111. OFFICERS: GEORGE P. BLOW, Pres.; G. Weerts, Sec. & Treas., La Salle, 111. GENERAL OFFICE, La Salle, 111. LOUISVILLE, NEW ALBANY AND CORYDON RR.— Corydon to Corydon June., Ind., 8 m. ; Corydon to Kings Cave, Ind., 3.3 m. — total, 11.3 miles; total track (steel, 7.7 m.) 12.92 miles. Rail — iron, 36 Ibs.; steel, 56 to 60 Ibs. Gauge, 4 ft. 8i m. Chartered, 188S , opened May 1, 1890. Sold under foreclosure in Feb., 1888, and the company reorganised. Locomotives, 2. Cars — passenger, 2 ; gravel, 1 — total, 3. Freight cars supplied by Southern Ry. Co. Operations, year ending June 30, 1902. — Passengers carried, 18,378 ; carried one mile, 141,- 510. Tons freight moved, 14,036; ton-miles, 108,077. Earnings (passenger, $6,432; freight, $8,308; other, $1,690), $16,430. Operating expenses, $11,574. Net earnings, $4,856. Payments: Interest on bonds, $3,750 ; taxes, $687 — total, $4,437. Surplus, $419 ; surplus forward, $8,571 — total ($8,990; less deductions during year, $5,027), $3,963. General Balance Sheet, June 30, 1902. — Capital stock ($150,000 auth.; $100 shares), $145,000; funded debt (1st 6s of 1918; $100,000 auth.), $75,000; current liabilities, $11,989; profit and loss, $3,963 — total, $235,952. Contra : Cost of road and equipment, $80,632 ; due on capital stock, $145,000 ; cash and current assets, $10,320 — total, $235,952. Directors. — M. J. O'Connor, Hartford, Conn. ; St. John Boyle, J. Tilford Boyle, Louisville, Ky. ; G. W. Applegate, R. L. Miller, L. S. Riley, E. D. Mitchell, Corydon, Ind. OFFICERS: M. J. O'CONNOR, Pres. & Gen. Mgr., Corydon, Ind. ; St. John Boyle, Vice-Pres. <£• Treas., Louisville, Ky. ; B. D. Mitchell, Sec., Corydon, Ind. GENERAL OFFICE, Corydcn, Ind. MANISTEE AND GRAND RAPIDS RR.— Manistee to Hartwick, Mich., 63 m. ; Filer City to Sands, 2.32 m. — total, 65.32 m. ; total track (steel; 50, 56 and 60 Ibs.), 94.52 miles. Gauge, 4 ft. 8i in. Chartered Nov. 17, 1889 ; road completed as above (see MANUAL for 1896, page 170). Projected from Manistee to Grand Rapids, Mich., 116 miles. Locomotives, 4. Cars — pas- senger, 4; freight (box, 59; flat, 239; coal, 20), 318 — total, 322. Operations, year ending Dec. 31, 1902. — Trains run (freight), 102,410 miles. Passengers carried, 19,320 ; carried one mile, 333,923. Tons freight moved, 218,283 ; ton-miles, 8,247,021. Earnings (passenger, $7,511; freight, $111,776; other, $1,637), $1?0,924. Operating expenses. $118,223. Net earnings, $2,701; other receipts, $5,001 — total, $7,702. Payments : Interest on bonds, $5,012; taxes, $6,879 — total, $11,891. Deficit for year, $4,189. Surplus brought forward, $206.128. Net surplus, $201,939. General Balance Sheet, Dec. 31, 1902. — Capital ntock, $1,000,000 auth.; $100 shares). 454 POOR'S MANUAL OF RAILROADS — CKXTRAL NORTHERN GROUP. $450,000; funded debt (1st 5s, payable annually, 1902-1005), $100,000; other liabilities, $66,283; profit and loss, $201,939 — total, $818,222. Contra : Cost of road and equipment, $765,799 ; other investments, $31,729 ; materials, etc., $12,871 ; cash and current assets, $1,354 ; other assets, $6,469 — total, $818,222. Directors. — E. G. Filer, Filer City, Mich. ; Chas. J. Canfleld, Louis Sands, Jas. Dempsey, H. W. Marsh, T. J. Ramsdell, R. R. Blacker, Manistee, Mich. OFFICERS : CHAS. J. CANFIELD, Pres. ; Louis Sands, Vice-Pres., Manistee, Mich. ; E. G. Filer, Treas., Filer City, Mich. ; T. J. Ramsdell, Sec., F. S. Bell, Aud., Manistee, Mich. GENERAL OFFICE, Manistee, Mich. MANISTEE AND LUTHER BB. — Eastlake, Mich., to end of track, 55 m. ; branches to forest terminals, 20 in. — total, 75 m. ; total track (steel; 30 Ibs.), 79 miles. Gauge, 3 ft. Chartered March 26, 1886; road opened in June, 1886. Locomotives, 6. Cars — passenger, 4; freight (box, 8; flat, 7; stock, 3; coal, 6; logging, etc., 297), 321; service, 13 — total cars, 338. Operations, year ending Dec. 31, 1902. — Earnings (passenger, $921; freight, $53,796), $54,717. Operating expenses, $51,733. Net earnings, $2,984. Paid interest on unfunded debt, $2,856. Surplus, $128. General Balance Sheet, Dec. 31, 1902. — Capital stock ($400,000 auth. ; $100 shares), $300,000 ; unfunded debt, $40,000 ; other liabilities, $97,732 ; profit and loss, $128 — total, $437,860. Contra : Cost of road and equipment, $423,225 ; materials, etc., $1,800 ; cash and current assets, $2,835 — total, $437,860. Directors (elected April 1, 1902). — H. W. Carey, Richard G. Peters, Eastlake, Mich.; W. H. Anderson, Grand Rapids, Mich. OFFICERS : RICHARD G. PETERS, Pres. & Gen. Mgr., East- lake, Mich. ; W. H. Anderson, Vice-Pres., Grand Rapids, Mich. ; Henry W. Carey, Sec., Treas. & Asst. Gen. Mgr., Eastlake, Mich. GENERAL OFFICE, Eastlake. Mich. MANISTEE AND NOBTHEASTEBN BB.— -Main Line: Maristee to Traverse City, Mich., 70.76 m. ; branches: Onekama June, to Onekama, Mich., 2.71 m. ; Manistee to Manistee Har- bor Novelty Works, Mich., 2.18 m. ; Solon to Provemont, 14.5 m. ; Kaleva to Terminus, 4 m. ; Platte River to Empire June., 16.84 m. ; Copemish to Betsey River, 8 m. — total, 118.99 m. ; total track (steel; 56 and 65 Ibs.), 148.58 miles. Gauge, 4 ft. 8J in. Chartered Jan. 7, 1887; main line opened in sections between Jan. 14, 1889, and July 1, 1892 ; branches opened at various dates. Lo- comotives, 10. Cars — passenger, 8; baggage, etc., 1; freight (box, 149; flat, 341; coal, 10), 500 ; service, 6 — total cars, 515. Of this equipment 75 box cars are held under car trusts. Operations, year ending Dec. 31, 1902. — Trains run (passenger, 106,018; freight, 88,135: mixed, 22,623 ; other, 8,007), 224,783 miles. Passengers carried, 125,089 ; carried one mile, 2,811,- 377. Tons freight moved, 486,576 ; ton-miles, 16,115,176. Earnings (passenger, $61,114 ; freight, $263,547; other, $7,773), $332,434. Operating expenses and taxes, $187,166. Net earnings, $145,- 268 ; other receipts, $5,251 — total, $150,519. Payments : Interest on floating debt, $72,606 ; de- preciation of equipment, $8,844 — total, $81,450. Surplus, $69,069 ; surplus forward, $25,144 — total, $94,213. General Balance Sheet, Dec. 31, 1902. — Capital stock ($2,000,000 auth.; $100 shares), $525,766; unfunded debt, $1,561,587; current liabilities, $27,406; profit and loss, $94,213 — total, $2,208,972. Contra: Cost of road and equipment, $2,151,723; other investments, $6,600; materials, etc., $24,958 ; cash and current assets, $25,691 — total, $2,208,972. Directors. — Edward Buckley, Wm. Douglas, Charles G. Wilson, Albert Wilson, T. J. Elton, Manistee, Mich. OFFICERS : EDWARD BUCKLEY, Pres., Treas. & Gen. Mgr. ; William Douglas, Vice- Pres., Sec. & Gen. Supt. ; Thos. J. Elton, Asst. Sec. ; P. R. L. Carl, Aud., Manistee, Mich. GENERAL OFFICE, Manistee, Mich. MANISTIQTJE, MABaTJETTE AND NORTHEBN BE.— Manistique to Shingleton, Mich., 41.5 m. ; Scott's Camp to McNeil's, 11.5 m. ; spurs, 15 m. — total, 68 miles. Gauge, 4 ft. 81 in. Rail (steel), 40 and 60 Ibs. Chartered in April, 1902, and purchased the Manistique and Northwestern Ry., taking possession thereof on May 1, 1902. The M. & N. W. Ry. Co. was char- tered April 25, 1891 ; road opened, 36 miles, Aug. 2, 1897 ; from Manistique to Shingleton, Jan. 2, 1899 ; branch and spurs added during the years 1898, 1900, and 1902. Locomotives, 5. Cars — passenger, 2; freight (box, 3; flat, 64; logging, 198), 265; service, 8 — total cars, 275. Operations, 8 months ending Dec. 31, 1902. — Earnings (passenger, $7,455; freight, $68,837; other, $1,149), $77,441. Operating expenses, $48,451. Net earnings, $28,990. Payments: Inter- est on bonds, $15,000 ; taxes, $2,497 — total, $17,497. Surplus, $11,493. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $2,000,000; funded debt (1st gold 5s of May 1, 1952, $1,500,000 auth.), $1,100,000; current liabilities, $41,885; profit and loss, $11,493 — total, $3,153,378. Contra : Cost of road and equipment, $2,824,217 ; material?, etc., $1,265 ; cash and current assets, $327,896 — total, $3,153,378. Directors (elected April 29, 3902). — R. R. Metheany, D. W. Kaufman, Grand Rapids, Mich.; B. B. Metheany, Manistique, Mich. ; N. M. Kaufman, S. R. Kaufman, Marquette, Mich. OFFICERS : R. R. METHEANY, Pres.; D. W. Kaufman, Vice-Pres. & Treas., Grand Rqpids, Mich. ; B. B. Metheany, Sec. & Gen. Mgr., Manistique, Mich. GENERAL OFFICE, Grand Rapids, Mich. MANISTIQ.TJE BY. — Grand Marais to Oilier, Mich., 45.50 m. ; logging branches, £0* m. — total, 70.50 m. : total track (steel; 56 Ibs.), 83 miles. Gauge, 4 ft. 8J in. Chartered Sept. 18, 1886; amended Oct. 21, 1889; first opened Oct. 20, 1886; extended to Germfask in Oct., 1893, and as above Nov. 3, 1902. Locomotives, 4. Cars — combination, 1; freight (box, 5; flat, 93; log. 40), 138; caboose, 3 — total, 142. Operations, year ending Dec. 31, 1902. — Trains run (freight, 69.866; mixed, 25,874), 95,740 miles. Passengers carried, 13,347 ; carried one mile, 280,287. Tons freight moved, 157,656 ; ton- miles, 3,913,527. Earnings (passenger, $10,702; freight, $88,804; other, $5,052), $104,558. Operating expenses, $67,013. Net earnings, $37,545 ; other receipts, $2,020 — total, $39,565. Pay- ments : Interest on bonds, $3,199; taxes, $2,336 — total, $5,535. Surplus, $34,030; surplus for- ward, $312,324 — total, $346,354. General Balance Sheet, Dec. 31, 19C2. — Capital stock ($500,000 auth. ; $100 shares), $150-, 000; funded debt (1st 6s of April 1, 1902), $40,000; current liabilities, $5,996: profit and loss, $346,354 — total, $542,350. Contra : Cost of road and equipment, $512,145 ; materials, etc., $8,776 ; cash and current assets, $21,429 — total, $542,^50. Directors. — R. A. Alger, J. C. McCaul, G. H. Stalker, Detroit, Mich. ; John Millen, Duluth, Minn. ; L. A. Hall, Bay Mills, Mich. OFFICERS : R. A. ALGER, P>rs., Detroit, Mich. ; Lewis A. Hall, Vice-Pres., Bay Mills, 'Mich. ; J. C. McCaul, Treas. & Sec.; G. H. Stalker, .-litd., Detroit, Mich. GEN- EKAL OFFICE, Detroit, Mich. POOR S MANUAL OF RAILROADS. 455 MARIETTA, COLUMBUS AND CLEVELAND RR.— Moore's June, to Palos, O., 41.3 m. ; Sharpsburg June, to Sharpsburg, O., 3.5 m. — total, 44.8 miles. Trackage : B. & O. 9. W. Ry., Marietta to Moore's June., O., 3.20 miles. Sidings, 1.5 miles. Gauge, 4 ft. 81 In. Rail (steel), 56 Ibs. Successor, on Nov. 1, 1900, to the Toledo and Ohio Central Extension RR. Co., whose prop- erty was sold under foreclosure Oct. 15, 1900 (see MANUAL for 1900, page 339). Locomotives (1 leased), 4. Cars — passenger, 3; baggage, etc. (1 leased), 3; freight (flat, 6; coal, 18), 24 — total, 30. Operations, year ending June 30, 1902. — Trains run (passenger, 56,120; mixed, 29,135; other, 26,585), 111,840 miles. Passengers carried, 58,606; carried one mile, 939,593. Tons freight moved, 110,029; ton-miles, 2,638,787. Earnings (passenger, •> 24,748 ; freight, $42,769; other, $6,658), $74,175. Operating expenses, $107,659. Deficit from operations, $33,484; add deductions during year, $28,649. Deficit for year, $62,133 ; deficit forward, ipiO.907 — total, $73,040. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $250,000; funded debt (1st 5s of 1940), $250,000; current liabilities, $15,568; interest accrued, $20,833; accrued taxes, $1,285 ; other liabilities, $43,000 — total, $580,686. Contra : Cost of road and equipment, $489,195 ; lands owned, $5,000; materials, etc., $5,304; cash and current assets, $8,147; profit and loss, $73,- 040 — total, $580,686. Directors (elected Oct. 1, 1902). — W. W. Mills, D. Torpey, Marietta, O. ; F. A. Durban, Zanes- ville, O. ; J. T. Blair, Greenville, Pa. ; D. I. Roberts, East Orange, N. J OFFICERS : D. I. ROBERTS, Pres.; J. T. Blair, Sec. & Treas.; B. R. Petriken, Aud., Marietta, O. GENERAL OFFICE, Marietta, O. MARINETTE, TOMAHAWK AND WESTERN RY.— Tomahawk to Harrison, Wis., 14.3 m., Tomahawk to Tomahawk June., Wis., 5.5 m., Jersey City to Spirit Falls, 13.5 m. ; Antigo June, to Gleason, Wis., 12.9 m. — total, 46.2 miles. Gauge, 4 ft. 81 In. Rail — iron, 45 Ibs. ; steel (17.8 m.), 56 Ibs. Chartered Oct. 4, 1894; road completed Nov. 27, 1895; Wisconsin and Chippe- wa Ry. purchased June 30, 1898. (See MANUAL for 1899, page 383.) Locomotives, 8. Cars — pas- senger, 5 ; combination, 2 ; freight, 68 ; caboose, 1 — total, 76. Operations, year ending June 30, 1902. — Trains run, 79,085 miles. Passengers carried, 19,- 255; carried one mile, 134,785. Tons freight moved, 72,960; ton-miles, 1,094,400. Earnings (pas- senger, $7,654; freight, $30,628; other, $567), $38,849. Operating expenses and taxes, $43,441. Deficit for year, $4,591. Surplus forward, $1,201. Net deficit June 30, 1902, $3,390. General Balance Sheet, June 30, 1902. — Capital stock ($1,000,000 auth. ; $100 shares), $161,500; current liabilities, $414,313 — total, $575,813. Contra : Cost of road and equipment, $563,541 ; materials, etc., $374 ; cash and current assets, $8,508 ; profit and loss, $3,390 — total, $575,813. Directors. — W. G. Collins, Frank G. Stark, William T. Bradley, Tomahawk, Wis.; Jas. W. Bradley, Milwaukee, Wis. One vacancy. OFFICERS : ' — Pres. ; W. G. Collins, Vice-Pres. <& Gen. Mgr.; Frank G. Stark, Sec., Treas. & Aud., Tomahawk, Wis. GENERAL OFFICE, Tomahawk, Wis. MARQ.UETTE AND SOUTHEASTERN RY.— Projected : Marquette to Manistique, Mich., 90 miles. Completed, April 1, 1903 : West Yard, Marquette, to Lawson, Mich., 26.96 miles. Gauge, 4 ft. 81 in. Rail (steel), 60 Ibs. Chartered Oct. 3, 1900; road opened July 1, 1902. Connects at Marquette with the L. S. & I. Ry., and at Lawson with the Munising Ry. Locomotives, 2 ; freight cars (box, 25; flat, 100), 125. Operations, 6 months ending Dec. 31, 1902. — Trains run (passenger, 10,914; freight, 9,159), 20,073 miles. Passengers carried, 13,951; carried one mile, 351,778. Earnings (passenger, $4,627; freight, $23,007; other, $1,399), $29,033. Operating expenses, $21,660. Net earnings, $7,373 ; other receipts, $5,610 — total, $12,983. Paid : Taxes, $6,260. Surplus, $6,723. General Balance Sheet, Dec. 31, 1902. — Capifal stock ($100 rhares), $1,000,000; current liabilities, $741,027 ; interest accrued, not due, $6,023 ; profit and loss, $6,723 — total, $1,753,773. Contra : Cost of road and equipment, $1,568,296 ; materials, etc., $82,357 ; cash and current as- sets, $103,120 — total, $1,753,773. Directors. — Wm. G. Mather, J. H. Hoyt, Cleveland, O. ; E. R. Perkins, Willoughby, O. ; J. H. Wade, New York, N. Y. ; M. M. Duncan, Ishpeming, Mich. ; H. R. Harris, Marquette, Mich. OF- FICERS : WM. G. MATHER, Pres. & Treas., Cleveland, O. ; E. R. Perkins, Vice-Pres., Willoughby, O. ; J. H. Hoyt, Sec., Cleveland, O. ; H. R. Harris, Gen. Mgr., Marquette, Mich. GENERAL OFFICE, Mar- quette, Mich. MASON AND OCEANARR.— Buttersville to Goodrich, Mich., 32 m. ; Lake to Coif ax, 3 m. — total, 30 m. ; total track (steel; 30 Ibs.), 35 miles. Gauge, 3 ft. Chartered Aug. 9, 1886; road opened to Stetson Jan. 20, 1888 ; extension to Goodrich July 1, 1901. Locomotives, 5. Cars — pas- senger, 1; baggage, etc., 1; freight (box, 10; flat, 60; logging, 160), 230 — total, 232. Operations, year ending Dec. 3l, 1902. — Passengers carried, 5,010 ; carried one mile, 66,783. Tons freight moved, 20,000; ton-miles, 500,000. Earnings (passenger, $2,042; freight, $14,476; other, $1,246), $17,764. Operating expenses, $16,737; taxes, $1,027 — total, $17,764. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $150,000; current liabilities, $31,000 — total, $181,000. Contra: Cost of road and equipment, $178,000; materials, etc., $3,000 — total, $181,000. Directors (elected Jan. 12, 1903). — M. F. Butters, H. U. Butters, G. N. Stray, J. H. Lyons, Ludington, Mich. ; C. E. Butters, Buttersville, Mich. OFFICERS : M. F. BUTTERS, Pres. & Sec. ; G. N. Stray, Vice-Pres.; H. U. Butters, Treas., Ludington, Mich. GENERAL OFFICE, Ludington, Mich. MINERAL RANGE RR. — Houghton to Calumet, Mich., 14.17 in. ; Keweenaw Bay to Riddle June., Mich., 35.56 m. ; Calumet to Laurium, Mich., 3.02 m. ; Arcadian June, to Grosse Point, Mich., 9.47 m. ; Franklin June, to Quincy Mine, 2.20 m. ; Boston to Franklin Junior Mine, 0.64 m. ; Arcadian Y to Arcadian Mine, 2 m. ; Peppard to Evergreen, 1.81 m. — total, 68.87 miles. Leased : Hancock and Calumet (see below), 34.52 m. ; Mohawk RR., Mohawk June, to Gay, Mich., 14.5 m. — total leased, 49.02 miles. Trackage : D., S. S. & A. Ry., Houghton to Keweenaw Bay, Mich., 19.36 m. ; T. O. Min'g Co., main line to Cooks Camp, 1.98 m. ; East br. to end of track, 2.47 m. ; M. Min'g Co., main line to Mohawk Mine, 0.62 m. ; A. Mln'g Co., main lino to Allouez Stamp Mill, 2.15 m. — total, 26.58 miles. Sidings, etc., owned, 25.2 m. ; leased, 15.99 miles. Gauge, 4 ft. 81 in. Rail — iron, 50 Ibs.; steel (89.7 m.), 56, 60, 70 and 80 Ibs. (For history, see MANUAL for 1893.) The branch from Arcadian June, to Arcadian Mine was opened Oct. 29, 1898 ; and that from Ar- cadian Mine to Grosse Point, July 28, 1899 ; the extension from Keweenaw Bay to Riddle June, was opened Dec. 23, 1900, and that from Calumet to Laurium, Jan. 1, 1903. Locomotives, 6. Cars — passenger, 7; baggage, etc., 1; freight (box, 1; flat, 113; ore, 275), 389; service, 11— total 408. 456 POOR'S MANUAL OF RAILROADS — CENTRAL NORTHERN GROUP. Operations, year ending Dec. 31, 1902 (aver., 132.75 miles). — Trains run (passenger, 141,- 223; freight, 189,635; other, 132,747), 463,605 miles. Passengers carried, 200,613; carried one mile, 2,012,749. Tons freight moved, 2,978,449; ton-miles, 28,983,350. Earnings (passenger, $68,498; freight, $484,905 ; other, $5,202), $558,605. Operating expenses, $466,706. Net earn- ings, $91,899; other receipts, $11,665 — total, $103,564. Payments: Interest on bonds, $83,360; taxes, $14,259 — total, $97,619. Surplus, $5,945 ; surplus forward, $228,138 — total, $234,083. General Balance Sheet, Dec. 31, 1902. — Capital stock ($800,000 auth. ; $100 shares), $743,- 400 ; funded debt, $1,936,100 ; current liabilities, $322,788 ; profit and loss, $234,084 — total, $3,236,372. Contra : Cost of road and equipment, $2,263,359 ; securities owned, $776,675 ; ma- terials, etc., $45,201 ; cash and current assets, $151,137 — total, $3,236,372. Funded Debt. — The funded debt on Dec. 31, 1902, consisted of the following issues (additional particulars will be found in the Ready Reference Bond List — see GENERAL INDEX) : $6,000 ($200,- 000 auth.) main line 1st 8s of June 1, 1888; $5,100 ($250,000 auth.) main line gen. 4s of Jan 1. 1937; $600,000 consols of Jan. 1, 1931 ($346,000 5s and $254,000 4s) ; $1,000,000 gen. 4s of Jan. 1, 1951 ; and $325,000 H. & C. RR. consol. 5s of Jan. 1, 1931. The four issues first named are se cured on the property of the Mineral Range RR. Co. ; the Hancock and Calumet bonds are secured on that road (see appended statement). RAILROADS LEASED OR OPERATED BY THE MINERAL RANGE RR. Co. Hancock and Calumet RR. — Hancock to Capital stock ($100 shares), $350,000. Funded end of track, Mich., 26.74 m. ; sundry branches, 7.78 m. — total, 34.52 m. ; total track owned (steel; 50, 56 and 80 Ibs.), 50.51 miles. Chartered Jan. 14, 1885. Railroad completed Oct. 28, 1891 ; main line extended 2.62 miles in debt, $400,000 1st 5s of Jan. 1, 1931, of which $325,- 000 are outstanding; principal and interest guar- anteed by the lessee. Cost of road and equip- ment, $955,105. A. B. Eldridge, Pres. ; E. W. Allen, Treas. ; A. 1899 ; gauge broadened to the standard in 1901. E. Miller, Sec., Marquette, Mich. The road is leased to the Mineral Range RR., the lease becoming effective on June 1, 1901, and the lessee acquiring all the assets and assuming all the liabilites of this company. Mohawk RR Mohawk Mine to Gay. Mich., 14.5 miles. Owned by the Mohawk Mining Co. Operated under contract by the Mineral Range RR. Directors, M. R. RR. Co. (elected Sept. 18, 1902). — William F. Fitch, E. W. Allen, Chas. H. Schaffer, J. G. Reynolds, Marquette, Mich. ; William E. Parnall, W. E. Parnall, Jr., J. T. Reeder, Calumet, Mich. OFFICERS : W. F. FITCH, Pres. & Gen. Mgr., Marquette, Mich. ; W. E. Parnall, Vice-Pres., Calumet, Mich.; E. W. Allen, Treas. ; A. E. Miller, Sec.; A. E. Delf, And., Marquette, Mich. ; Geo. H. Church, Asst. Sec. & Asst. Treas., 44 Wall St., New York, N. Y. GENERAL OFFICE, Marquette, Mich. MT7NISING RY.— - Munising to Little Lake, Mich., 38 m. ; branches, Stillman to Forster Jet., 14.11 m. ; Vail to Acker, 1.56 m. ; Harth's to Petrel, 7.45 m. ; Forster June, to Ethel, 1.81 m. — total, 62.93 m. ; total track (steel; 56 Ibs.), 79.46 miles. Gauge, 4 ft. 8J in. Chartered July 3, 1895; main line completed in 1897 ; branches opened in 1901 and 1902. Locomotives, 5. Cars — passen- ger, 1; baggage, etc., 4; freight (box, 1; flat, 101), 102; service, 1 — total, 108. Operations, year ending Dec. 31, 1902. — Trains run (passenger, 15,890; freight, 12,554; mixed, 49,634 ; other, 4,668), 82,746 miles. Passengers carried, 35,575 ; carried one mile, 608,761. Tons freight moved, 98,788; ton-miles, 2,038,904. Earnings (passenger, $17,174; freight, $44,- 782; other, $4,124), $66,080. Operating expenses, $74,460. Loss from operations, $8,380. Charges: Interest on bonds, $6,400 ; other interest, $23,683 ; taxes, $5,623 ; other charges, $399 — total, $36,105. Deficit for year, $44,486. Surplus forward, $4,509. Net deficit, $39,977. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $870,000; funded debt (1st 4s of Oct. 1, 1925), $160,000; bills payable, $376,728; current liabilities, $47,659; in- terest accrued, not due, $1,600 ; taxes, $5,486 ; other liabilities, $231,761 — total, $1,693,234. Contra : Cost of road and equipment, $762,442 ; land department, $426,646 ; other investments, $414,232; materials, etc., $11,495; cash and current assets, $38,441; profit and loss, $39,977 — total, $1,693,234. Directors (elected July 29, 1902). — Wm. G. Mather, J. H. Hoyt, Samuel Mather, Cleveland, O. ; J. H. Wade, New York, N. Y. ; E. R. Perkins, Willoughby, O. OFFICERS : WM. G. MATHER. Pres. & Treas., Cleveland, O. ; E. R. Perkins, Vice-Pres., Willoughby, O. ; R. C. Mann, Sec., Cleve- land, O. GENERAL OFFICE, Marquette, Mich. NORTHWESTERN COAL RY. — Allouez Bay, Wis., to Morrisets June.. 2.53 m. ; 2d track, 5.47 m. ; total track (steel; 60 Ibs.), 8 miles. Gauge, 4 ft. 8J in. Chartered Dec. 9, 1892. Loco- motives, 2. Operations, year ending Dec. 31, 1902. — Tons freight moved, 401,035 ; ton-miles, 1,014,618. Gross traffic earnings, $23,76-7. Operating expenses, $18,496. Net earnings, $5,271. Payments: Interest on bonds, $11,000 ; taxes, $825 — total, $11,825. Deficit, $6,554 ; deficit forward, $5,847— total, $12,401. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $1,000,000; funded debt (1st 5s of May 1, 1923 ; $2,000,000 auth.), $220,000 ; current liabilities, $933 — total, $1,220,- 933. Contra : Cost of road and equipment, $233,815 ; other permanent investment, $967,286 ; cash and current assets, $7,431 ; profit and loss, $12,401 — total, $1,220,933. Directors. — Francis L. Robbins, J. D. Nicholson, A. M. Neeper, Pittsburgh, Pa. ; C. E. Wales, Chicago, 111. ; M. H. Taylor, Erie, Pa. ; A. W. Horton, Cleveland, O. ; H. H. Grace, Superior, Wis. OFFICERS: FRANCIS L. ROBBINS, Pros., Pittsburgh, Pa.; A. W. Horton, 1st Vice-Pres.. Cleveland, O. ; H. H. Grace, 2d Vice-Pres.; C. P. White, Sec. & Treas., Superior, Wis.; C. E. Wales, Gen. Mgr., Chicago, 111. PRINCIPAL OFFICE, Superior, Wis. PAWNEE RR. — Pawnee to Auburn, 111., 9 m. ; total track, 9.5 miles. Rail (steel, 9 m.), 60 Ibs. Gauge, 4 ft. 8J in. Organized Dec. 20 and chartered Dec. 25, 1888 ; road completed in 1889. Locomotives, 2. Cars — passenger, 1; freight (coal), 5 — total, 6. Capital stock ($100 shares), $50,000. Operations, year ending June 30, 1902. — Earnings (passenger, $5,720 ; freight, $16,713), $22,- 433. Operating expenses, $12,665. Net earnings, $9,768. Total deductions, $9,530. Surplus, $238. Financial Statement. June 30, 1902. — Capital stock ($100 shares), $50,000. No bonds or other liabilities. Cost of road and equipment, $97,274. Cash and current assets, $1,345. Surplus, $1,345. Directors. — Morgan Jones, Henry Burrell, Hugh White, H. R. Davis, Hiram White, Pawnee, POOR S MANUAL OP RAILROADS. 457 111. OFFICERS: MOBGAN JONES, Prcs.; Hugh White, Treas.; E. R. Lightcap. Sec.; E. W. Clifford. Supt. & And., Pawnee, 111. GENERAL OFFICE, Pawnee, 111. PEORIA AND PEKIN TERMINAL RY. — Peoria to Pekin, 11!., 10 m. ; Pekin to Cres- cent, 111., 1.5 m. ; leased, Peoria Terminal RR., Iowa June, to Eaton St., Peoria, 9 m. ; trackage, Central RR. of Peoria, city limits of Peoria to center of city, 5 m. — total, 25.5 m. ; 2d track, 7 m. ; total track (steel; 70 IDS.), 32.5 miles. Gauge, 4 ft. 8J in. The Peoria Traction Co. was chartered Aug. 26, 1897, the charter to endure for 50 years and the company to have the right to build and operate a terminal system in and between Peoria and Pekin, 111. Municipal franchises for 30 years were granted to the company on Oct. 15, 1898. The present corporate title was adopted in May, 1899 ; road opened May 1, 1900. The Peoria Terminal RR. is leased for 50 years from Dec., 1897. Locomotives, 6. Cars — passenger, 5; baggage, mail, and express, 5; freight (box, 3; coal, 50), 53 ; other, 3 — total, 66. Electric cars— motor, 5 ; trail, 10 — total, 15. The electric equipment is used for local passenger business; steam for freight and through passenger business. Operations, year ending June 30, 1901 (latest reported). — Gross earnings, $73,741. Operat- ing expenses, $74,956 ; interest, $37,340— total, $112,296. Deficit, $38,555. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock, $700,000; funded debt (see below), $632,000; other liabilities, $75,863; total, $1,407,863. Contra: Cost of road, $1,093,813; equipment, $150,512; stock owned, $100,250; sinking fund, $735; cash and current assets, $12,554 ; profit and loss, $49,999— total, $1,407,863. Funded Debt. — Bonds amounting to $150,000 are payable yearly from Jan. 1, 1905, to Jan. 1, 1929, while the remaining bonds are payable on Jan. 1, 1930. Interest is at the rate of 5 p. c. per annum, payable Jan. and July ; both principal and interest are payable in gold. Directors. — W. H. Trumbull, Salem, Mass. ; P. L. Saltonstall, Boston, Mass. ; L. E. Myers, Chicago, 111. ; E. W. Wilson, W. T. Irwin, T. J. Miller, Benj. Warren, Jr., Peoria, 111. OFFICERS : T. J. MILLER, Pies. ; B. Warren, Jr., Vice-Pres., Peoria, 111. ; P. L. Saltonstall, Treas., Boston, Mass. ; L. E. Myers, Sec. £ Gen. Mgr., Chicago, 111. GENERAL OFFICE, Peoria, 111. PEORIA AND PEKIN UNION RY. — Pekin, 111., to Peoria, 111., 10.14 m. ; Peoria, 111., to Hollis, 111., 8 m. — total, 18.14 miles. 2d track, 8.8 m. ; sidings, 56.06 miles. Gauge, 4 ft. 8J in. Rail (steel), 67, 70, and 80 Ibs. Chartered Sept. 1, 1880; road opened Feb. 1, 1881. The Peoria and Springfield RR. and that part of the Peoria, Pekin and Jacksonville Ry., extending between Peoria and Pekin, were acquired by purchase. Locomotives, 18. Cars — passenger, 3; freight (box, 5; flat, 1; coal, 288), 294; caboose, 1 — total, 298. Operations, year ending June 30, 1902. — Trains run (passenger, 53,047; freight, 37,982), 91,029 miles. Tons freight moved, 270,581. Earnings (passenger, $19,680; freight, $56,235; other, $733,902), $809,817. Operating expenses, $544,870. Net earnings, $264,947. Payments: Interest on bonds, $157,155; taxes, $38,100; dividends (6 p. c.), $60,000; other charges, $32,951 — total, $288,206. Deficit, $23,259 ; surplus forward, $171,694— total, $148,435. Capitalization, cost of property, etc., and results from operation, for seven years : fears. Capital Stock. Bonded Debt. 1896 .... 1,000,000 2,994,000 1897 1,000,000 2,994.000 1898 1,000,000 2,994,000 1899. . . . 1,000,000 2,994,000 1900.... 1,000,000 2,994,000 1901... 1,000.000 2,994,000 1902 1,000,000 2,994,000 Cost and RR. Gross Expen- Net Invest- Oper- Earn- ses and Earn- ments. ated. ings. Taxes. ings. I Miles. I $ S 4,419,224 18.14 671,935 393,905 278,030 4,420,724 18.14 642,803 359,006 283,797 4,420,724 18.14 686,848 370,878 315,970 4,420,724 18-14 730,009 400,376 335,633 4,419,224 18.14 770,369 450,007 320,362 4,419,224 18.14 729,181 446,961 282,220 4,419,224 18.14 809,817 582,970 226,817 Net Interest Balance. Income Charges, p • j (+or — ). I I $ $ 278,030 157,155 60,000 —29,553 157,155 60,000 -4-30,975 157,155 60,000 +22,520 157,155 60,000 +49027 157,155 60,000 —74,780 157,155 60,000 +29,088 157,155 60,000 -23.259 General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,000,000; funded debt, $2,994,000; betterments, $425,224; current liabilities, $131,890; interest accrued, not due, $26,193; profit and loss, $148,435 — total, $4,705,742. Contra: Cost of road and equipment, $4,- 419,224 ; materials, etc., $37,862 ; cash and current assets, $248,656 — total, $4,705,742. Owners and Tenants. — The capital stock is held as follows: Illinois Central RR. Co. and Chicago, Peoria and St. Louis Ry. Co. of Illinois, each 2,500 shares ; Toledo, Peoria and Western Ry. Co., 1,500 shares ; Chicago and Northwestern Ry. Co. and C., C., C. & St. L. Ry. Co., each 1,250 shares ; and Lake Erie and Western RR. Co., 1,000 shares. Each of these companies pays, in addi- tion to terminal charges for handling its business and cars at Peoria, a yearly rental of $22,500 for use of this company's tracks and facilities. Sufficient of this rental is pledged to payment of inter- est on the 1st mtge. bonds. An annual rental of $22,500 is also paid by the Terre Haute and In- dianapolis RR. Co., the Chicago and Alton RR. Co., and the Iowa Central Ry. Co., besides the usual terminal charges for handling their business in Peoria. Funded D-bt. — Funded debt, June 30, 1902, consisted of $1,495,000 1st gold 6s of Feb. 1, 1921, and $1,499,000 2d gold 4Js of Feb. 1, 1921. Directors (as constituted March 10, 1903). — Term expires March, 1904: Curtis Millard, E. F. Leonard, Peoria, 111. ; W. A. Gardner, J. T. Harahan, Chicago, 111. ; C. E. Kimball, New York, N. Y. Term expires March, 1905 : C. E. Schaff, Cincinnati, O. ; J. C. Welling, Chicago, 111. ; Bluford Wil- son, Springfield, 111. ; E. N. Armstrong, Peoria, 111. Term expires March, 1906 : J. A. Barnard, Indianapolis, Ind. ; J. F. Wallace, Chicago, 111. ; W. H. Gridley, Springfield, 111. ; J. B. Cockrum, Indianapolis, Ind. OFFICERS: CURTIS MILLARD, Pres. ; E. N. Armstrong, Vice-Pres.; F. L. Tomp- kins. Gen. Supt.; H. K. Pinkney, Sec. & And.; J. F. Keifer, Treas., Peoria, 111. GENERAL OFFICE, Peoria, 111. PEORIA AND SPRINGFIELD RY. — Projected : Peoria to Springfield, 111., 65 miles of main track and 10 miles of terminal and side tracks. Gauge, 4 ft. 8J in. Rail (steel), 70 Ib.i. Organized May 1, 1901, under the laws of Illinois, to acquire a railroad as above. On July 1, 1901, the company purchased the property and franchise rights of the Peoria and St. Louis Ry. Co., in- cluding terminal options, and is now constructing the road. The object of the enterprise is to supply railroad facilities for marketing the coal of the Sweetwater coal fields. The purchase of the Peoria and St. Louis Ry. secured to this company 3 miles of finished road, a large amount of right of way, grading, and materials (see MANTUAL for 1901, page 1506). Financial Statement, June 30, 1902. — Capital stock authorized and subscribed ($1,000,000 common and $1,000,000 preferred; $100 shares), $2,000,000. Funded debt outstanding, $160,000 ($1,500,000 auth. ) 1st 50-yr. 5s due July 1, 1951, secured on the entire property of the company. The proceeds will be used to build the road, including terminals at South Peoria and a steel draw- 458 POOR'S MANUAL OP RAILROADS — CENTRAL NORTHERN ouoii1. bridge over the Illinois River at Pekin, and to purchase the following equipment : 4 locomotives, 300 coal cars, 30 box cars, 3 passenger coaches, and 2 caboose cars. Provision has been made for an issue of $950,000 6 p. c. collateral trust notes, payable in one year, $500,000 of which have been subscribed. The $60,000 1st mtge. 5 p. c. bonds of the Peoria and St. Louis Ry. Co., maturing in 1936, have been assumed, and $60,000 of this company's bonds are deposited with Cummings & Co., 20 Broad St., New York, to provide for their retirement. Fiscal Agents : Cummings & Co., New York. Directors. — D. L. Wing, Raymond C. Wing, Peoria, 111. ; Turney English, Springfleld, 111. ; T. C. Delavan, New York, N. Y. ; H. S. Spooner, Chicago, 111. OFFICERS: D. L. WING, Pres.; H. S. Spooner, Sec., Peoria, 111. GENERAL OFFICE, Peoria, 111. PONTIAC, OXFORD AND NORTHERN RR.— Pontiac, Mich., to Caseville, Mich., 100.59 m. ; total track (steel; 56 Ibs.), 109.51 miles. Gauge, 4 ft. 8i in. Successor to Pontiac, Oxford and Port Austin RR. (See MANUAL for 1893, page 978.) Locomotives, 7. Cars — passenger, 7; baggage, etc., 1; freight (box, 45; flat, 61; stock, 4), 110; other, 2 — total cars, 120. Operations, year ending Dec. 31, 1901. — Trains run (passenger, 66,081; freight, 47,882; mixed, 71,280), 185,243 miles. Passengers carried, 119,060; carried one mile, 2,667,979. Tons freight moved, 151,709; ton-miles, 4,755,180. Earnings (passenger, $61,420; freight, $132,644; other, $11,530), $205,594. Operating expenses and taxes, $104,743. Net earnings, $100,921. Deduct interest on bonds, $24,000; dividends (8 p. c.), $80,000 — total, $104,000. Deficit, $3,079. Surplus forward, $27,487. Net surplus, $27,408. General Balance Sheet, Dec. 31, 1901. — Capital stock ($100 shares), $1,000,000; funded debt (1st 6s of July 1, 1916), $400,000; unfunded debt, $25,297; profit and loss, $24,408 — total, $1,449,705. Contra: Cost of road and equipment, $1,410,611; materials, etc., $8,735; other assets, $30,358 — total, $1,449,705. Directors. — -Hugh Porter, George W. Debevoise, H. A. O'Brien, S. A. Demorest, New York, N. Y. ; A. C. Baldwin, W. C. Sanford, P. H. Carroll, Pontiac, Mich. OFFICERS : HUGH PORTER, Pres. & Treas.; Geo. W. Debevoise, Vice-Pres. ; H. A. O'Brien, Sec., New York, N. Y. ; F. H. Car- roll, Aud., Pontiac, Mich. GENERAL OFFICE, Pontiac, Mich. PORT HURON SOUTHERN RR.— June, with Pere Marquette RR. to Port Huron Salt Co.'s plant, Port Huron, Mich., 2.9 m. ; branch, 0.75 m. — total, 3.65 miles; total track (steel). 3.88 miles. Gauge, 4 ft. 8| in. Chartered Jan. 25, 1900 ; opened Jan., 1901. A switching road, con- necting the works of the Port Huron Salt Co. at Port Huron, Mich., with the Pere Marquette RR., owns 1 locomotive and 2 surface cars. Operations, year ending Dec. 31, 1902. — Earnings ( freight X, $10,082. Operating expenses, $5,736. Net earnings, $4,346 ; other receipts, $28 — total, $4,374. Payments : Interest on floating debt, $995; taxes, $147; other charges, $171 — total, $1,313. Surplus, $3,061; deficit forward, $413 ; net surplus, $2,648. General Balance Sheet, Dec. 31, 1902. — Capital stock ($50,000 auth. ; $100 shares), $15,- 000 ; notes payable, $17,250 ; current liabilities, $2,602 ; profit and loss, $2,648 — total, $37,500. Contra: Cost of road and equipment, $31,999; materials, etc., $516; insurance, $101; cash and current assets, $4,884 — total, $37,500. Directors. — W. L. Jenks, Otto Huette, H. G. Barnum, Port Huron, Mich. ; P. Reiss, G. Huette, Sheboygan, Wis. OFFICERS : W. L. JENKS, Pres., Port Huron, Mich. ; P. Reiss, Vice-Pres., Sheboy- gan, Wis.; H. G. Barnum, Treas.; Otto Huette, Sec., Port Huron, Mich. GENERAL OFFICE, Port Huron, Mich. ST. CLAIR, MADISON AND ST. LOUIS BELT RR.— Alton, 111., to West Alton, Mo., 2.80 m. ; total track (steel; 65 Ibs.), 3.40 miles. Gauge, 4 ft. 8J in. Chartered in May, 1890; road opened in May, 1894. Receiver appointed Jan. 15, 1897, and discharged June 19, 1901. In April, 1901, reorganized without foreclosure, per following plan of reorganization dated Jan. 2, 1901 : Issue a 1st mtge. to secure an issue of $800,000 4 p. c. 50-yr. bonds, dated Jan. 1, 1901, interest Jan. and July, with which to take up the present 1st mtge. of $600,000, with all arrears of interest at $1,250, in new 4 p. c. bonds for each $1,000 of old bonds, with all past due coupons attached. This will take $750,000 of the proposed issue, leaving $50,000 in bonds. The parties who own the judgment will take nearly the whole amount due them in bonds at par. There will then be left in the treasury, $30,000. in bonds for future use as occasion may require. The company owns 1 locomotive and leases 1 passenger car. Operations, year ending June 30, 1902. — Earnings (passenger, $16,228; freight, $52,879; other, $1,609), $70,716. Operating expenses, $25,272. Net earnings, $45,444. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock ($2,000,000 auth.; $100 shares), $900,000; funded debt (1st gold 4s of Jan. 1, 1951), $776,000; current liabilities, $23 823 — total, $1,689,823. Contra : Cost of road, $1,500,000 ; cash and current assets, $73,426 ; profit and loss, $80,870 — total, $1,654,296. Directors. — E. F. Leonard, Springfield, 111. ; Edwards Whitaker, L. A. Handy, St. Louis, Mo. ; F M. Homer, East St. Louis, 111. ; Wm. Graham, Alton, 111. OFFICERS : JOHN F. BARNARD, Pres., Alton, 111.; Edwards Whitaker, Vice-Pres.; L. A. Handy, Treas., St. Louis, Mo.; Wm. Graham, Supt., Alton, 111. GENERAL OFFICE, Alton, 111. ST. LOUIS, BELLEVILLE AND SOUTHERN RY. — East St. Louis to Belleville, 111.. 13 m. ; total track (steel; 60 Ibs.), 14.68 miles. Gauge, 4 ft. 8J in. Chartered as the Belleville City Ry. Co. in Feb., 1867 ; present name adopted on March 15, 1895. Road opened as above in May 1895. Locomotive, 1. Cars — flat, 20 ; coal, 100 ; caboose, 1 — total, 121. Capital stock ($500,000 auth.), $398,000. Funded defft (1st 5s of 1913), $500,000. Cost of road, $467,875. Operations, year ending June 30, 1902. — Tons freight moved, t3,881 ; ton-miles, 376,624. Earnings (freight, $12,819; other, $8,207), $21,026. Operating expenses, $10,806; taxes, $2,174 — total, $12,980. Net earnings, $8,046. Directors. — J. C. Welling, J. T. Harahan, J. F. Titus, C. F. Parker, Chicago, 111. ; G. A. Koer- ner, Belleville, 111. OFFICERS : C. F. PARKER, Pres., Chicago, 111. : J. F. Titus, Vice-Pres. ; W. G. Bruen, Sec., Chicago, 111. ; B. T. H. Gibson, Treas., New York, N. Y. GENERAL OFFICE, Chi- cago, 111. ST. LOUIS, TROY AND EASTERN RR. — East St. Louis to Troy, 111., 26.83 miles. Gauge, 4 ft. 8| in. Rail (steel), 60 Ibs. Chartered Aug. 16, 1899. Locomotives, 4; freight cars, 724. Capital stock, $350,000. Funded debt (1st gold 6s of Dec. 1, 1919, redeemable after Dec. 1, 1904), $600,000. Operations, year ending June 30, 1902 (aver., 19.94 miles). Earnings (freight, $169,499; POOR'S MANUAL OF RAILROADS. 459 other, $110), $169,609. Operating expenses, $51,389. Net earnings, $118,220; other receipts, $18,673 — total, $136,893. Total deductions, $42,071. Surplus for year, $94,822. Directors. — Edwin H. Conrades, J. L. Winkelmeyer, F. J. Traunmiller, St. Louis, Mo. ; Robert Bethmann, S. D. Sexton, W. S. Forman, D. M. Browning, East St. Louis, 111. OFFICERS : EDWIN H. CONRADES, Prcs. £ Pur. Agt., St. Louis, Mo. ; W. S. Forman, Vicc-Pres., East St. Louis, 111. ; J. L. Winkelmeyer, Sec. & Treaa. ; W. F. Gould, Asst. Sec. <& Asst. Treos. ; E. C. Donk, Gen. Mgr. ; Beriah Warren, Supt., St. Louis, Mo. OFFICE, 314 North Fourth St., St. Louis, Mo. TOLEDO RAILWAY AND TERMINAL CO. (THE).— Belt line around Toledo, O., 31 miles. Gauge, 4 ft. 8J in. Chartered in Sept., 1900, to build a double track Belt Line around Toledo, O. ; completed Sept. 1, 1903. Capital stock ($5,000,000 auth.), $2,500,000. Funded debt, $3,500,000 (auth.), 1st mtge. 4J p. c. 40-yr. gold bonds, due Feb. 1, 1942, interest Feb. and Aug. at the office of the trustee, the Commonwealth Trust Co., St. Louis, Mo. OFFICERS : H. E. King, Prcs. ; F. W. Caughling, Sec. ; T. F. Whittelsey, Gen. Mgr., Toledo, O. GENERAL OFFICE, Toledo, O. WABASH, CHESTER AND WESTERN RR.— Chester, 111., to Mount Vernon, 111., 63.33 m. ; Chester to Menard, 111., 1.50 m. — total, 64.83 m. ; total track, 69.62 miles. Gauge, 4 ft. 8J in. Rail (steel, 64.58 m.), 60 Ibs. (For history, see MANUAL for 1894, page 146.) Locomotives, 5. Cars — passenger, 3; combination, 2; freight (box, 10; flat, 4; coal, 65), 79; service, 6 — total, 90. Operations, year ending June 30, 1902. — Trains run (passenger, 54,934; freight, 19,854; mixed, 32,784), 107,572 miles. Passengers carried, 60,446; carried one mile, 1,003,044. Tons freight moved, 113,280; ton-miles, 2,904,297. Earnings (passenger, $24,692; freight, $62,830; other, $10,260), $97,782. Operating expenses, $72,654. Net earnings, $25,128. Payments: In-' terest on bonds, $34,500; taxes, $6,619 — total, $41,119. Deficit, $15,991; deficit forward, $152,- 020 — total, $168,011. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,250,000; funded debt, $690,000 ; current liabilities, $18,446 ; interest accrued, $175,800 — total, $2,134,246. Contra : Cost of road and equipment, $1,951,103 ; materials, etc., $3,490 ; cash and current assets, $11,642 ; profit and loss, $168,011 — total, $2,134,246. Funded debt, June 30, 1902, consisted of $300,000 1st gold 5s of July 1, 1918, secured on the line from Chester to Tamaroa, 111., 42.33 miles; and $390,000 consol. gold 5s of Jan. 1, 1928, se- cured on the entire property of the company, but subject to the 1st mtge. bonds. Directors. — Nathan Cole, St. Louis, Mo. ; C. B. Cole, H. C. Cole, J. J. Morrison, H. C. Horner, Chester, 111. OFFICERS : NATHAN COLE, Pres., St. Louis, Mo. ; Charles B. Cole, Vice-Pres., Treas. A Gen. Mgr.; C. E. Kingsbury, Aud. ; H. C. Cole, Sec., Chester, 111. GGJJJSKAL OFFICE, Chester, 111. WAUKEGAN .AUD MISSISSIPPI VALLEY RR.— Waukegln to North Chicago, 111., 3.75 m. of main track and 6.25 m. of side track ; used for the present solely for switching business. All tracks owned by the American Steel and Wire Co. The company was chartered Aug. 28, 1893, to build about 40 m. of railroad in Lake County, 111. Road opened as above in 1896. Locomotives-, 4. Cars (freight), 124. Operations, year ending June 30, 1902. — Gross earnings (switching, etc.), $43,926. Operat- ing expenses, $21,666. Net earnings, $22,260. Total deductions, $21,722 (including dividend, $12,000). Surplus, $538. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock, $60,000; current liabilities, $6,519 — total, $66,519. Contra: Cost of equipment, $60,000; current assets, $37- profit and loss, $6,482 — total, $66,519. Directors. — Wm. Edenborn, W. P. Palmer, J. S. Keefe, Chicago, 111. OFFICERS : J. S. KEEFE, Pres.; A. F. Allen, Sec. & Treas., Chicago, 111. GENERAL OFFICE, Rookery Building, Chicago, 111. WISCONSIN AND MICHIGAN RY.— Peshtigo, Wis., to Faithorn June.. Mich.. 57.10 m. ; Hammond to end of track, 1.45 m. — total, 58.55 m. ; C., M. & St. P. Ry. (trackage), Bagley June., Wis., to Menominee, Mich., 8.52 m. ; total operated, 67.07 miles. Gauge, 4 ft. 8i in. Chartered Oct. 26, 1893. Construction commenced in April, 1894 ; road opened Jan. 1, 1895 ; main line ex- tended Sept. 1, 1896. The Wisconsin, Michigan and Northern Ry. Co. was chartered Nov. 17, 1898, to build an extension of this line from Faithorn June, to Iron Mountain. Mich., 30 miles, of which the section from Faithorn June, to Quinnesec, 16 miles, is under construction. Locomotives, 5. Cars — passenger, 2; freight (box, 92; flat, 110; hay, 2; board, 4), 208 — total, 210. Operations, year ending June 30, 1902. — Trains run (passenger, 51,414; freight, 41,604; other, 69,889), 162,907 miles. Passengers carried, 21,419; carried one mile, 487,984. Tons freight moved, 157,119; ton-miles, 4,335,450. Earnings (passenger, $17,040; freight, $79,911; other, $3,396), $100,346. Operating expenses, $95,642. Net earnings, $4,704. Deductions: In- terest on bonds, $47,550 ; other interests, $6,728 ; taxes, $1,364 — total, $55,642. Deficit, $50,938 ; deficit forward, $199,164 — total, $250,102. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $951,500; funded debt (1st gold 5s of Jan. 1, 1945), $951,000; current liabilities, $096,472 — total, $2,598,972. Contra: Cost of road and equipment, $1,994,244; materials, etc., $39,313; cash and current as- sets, $315,313 ; profit and loss, $250,102 — total, $2,598,972. Directors. — J. N. Faithorn, John P. Hopkins, John R. Walsh, John C. Ames, Chicago 111. • C. H. Worcester, Marinette, Wis. OFFICERS: JOHN P. HOPKINS, Pres.; O. A. Koss, Sec. & Aud. • B Shaw, Treas., Chicago, 111. GENERAL OFFICE, Grand Central Passenger Station, Chicago, 111. ZANESVILLE TERMINAL RR. — Muskingum to'Spangler, O., 1.7 m. ; Market Street to Belt Line, 0.3 m. ; Spangler to B. & O. Crossing, 2.62 m. — total, 4.62 m ; total track (steel; 60 Ibs.), 8.26 miles. Chartered April 7, 1902, to take title to the property of the Zanesville Terminal Ry. Co., which was sold under foreclosure on March 22, 1902. The company is controlled by the Zanesville and Western Ry. Co. and the Cincinnati and Muskingum Valley RR. Co. Operations, from March 23, 1902, to Dec. 31, 1902. — Rentals received from Z. & W. Ry. Co $6.176; other receipts, $818 — total, $6,994. Deductions: Expenses, $578 ; rental pc.id to B. & O RR. Co., $720 ; taxes, $285 — total, $1,583. Surplus, $5,411. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $300,000; current liabilities, $349 ; taxes accrued, $100 ; profit and loss, $5,411 — total, $305,860. Contra • Cost of road, $296,864 ; cash, $7,666 ; current accounts, $1,330 — total, $305,860. Directors (elected March 2, 1903). — James H. Hoyt, Cleveland, O. ; James McCrea, E L. Taylor, Joseph Wood, Pittsburgh, Pa. ; E. L. McCune, N. Monsarrat, W. N. Cott, Columbus O OFFICERS: JAMES M. MCCREA, Pros., Pittsburgh, Pa.; N. Monsarrat, Vice-Pres.; W. N. Cott Sec. & Treas.; Louis P. Ecker, Aud., Columbus, O. GENERAL OFFICE, Columbus, O. 460 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. SOUTHWESTERN GROUP— States of Missouri, Arkansas, Texas, Kansas and Colorado; Territories of New Mexico and Oklahoma ; Indian Territory. THE ATCHISON, TOPEKA AND SANTA FE RAILWAY SYSTEM. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 14 Directors and Officers 22 Earnings, Exp., etc., 1902... 8. Sa Earnings, Exp., 1896-1902.... 9 Extensions, Projected 7 Funded Debt, Details of 15 Funded Debt, Lien of 4 Gen. Bal. Sheet, June 30, 1902. 12 Gen. Bal. Sheet, 1901-1902. . . 13 History 3 Income Acct., June 30, 1902.8, SA Income Acct, 1897-1902 9 Investments in Detail 20 Lines Oper'd, June 30, 1902.. 2 Mileage of System 1 Operations, 1896-1902 9 Petroleum Property 5 Profit and Loss Acct., June 30, 1902 10 1897- Proflt and Loss Acct., 1902 11 Proprietary Lines 1, 21 Railroad Franchises, etc 17 Rolling Stock 6 San Francisco Terminals 1 Securities in Treasury 19 Stocks and Bonds Pledged as Security for Funded Debt. 20 1. Mileage of System, June 30, 1902.— A. OPERATED AS A., T. & S. F. Ry The Atchison, Topeka and Santa Fe Railway 4,843.61 miles. Gulf, Colorado and Santa Fe Railway 1,177.81 " Santa Fe Pacific Railroad 875.30 " Southern California Railway 478.33 San Francisco and San Jcaquin Valley Railway 372.48 " Southern Kansas Railway of Texas 129.17 " Total length of lines operated as A., T. & S. F. Ry B. CONTROLLED ROADS, OPERATED SEPARATELY (788.12 miles). Beaumont Wharf and Terminal Company California Eastern Railway Grand Canyon Railway Gulf, Beaumont and Kansas City Railway Gulf, Beaumont and Great Northern Railway Pecos Valley and Northeastern Railway Santa Fe, Pi escott and Phoenix Railway Prescott and Eastern Railroad C. OWNED JOINTLY WITH OTHER COMPANIES (68.27 miles). Kansas Southwestern Ry. (Atchison's half of 59.70 m.) Leavenworth and Topeka Railway (Atchison's half of 46.57 m.) Sunset Railroad (Atchison's half of 30.28 m.) 7,876.70 miles. 3.41 45.44 66.45 62.37 11.22 370.24 202.39 26.40 29.85 23.28 15.14 Total mileage of system, June 30, 1902 8,733.09 miles. Proprietary Lines, Included in System. — The Atchison, Topeka and Santa Fe Ry. Co. owns all the securities of the Rio Grande and El Paso RR. Co., Southern Kansas Ry. Co. of Texas, Gulf, Colorado and Santa Fe Ry. Co., and Southern California Ry. Co. (except a small outstanding interest). The Southern Kansas Ry. of Texas, and Gulf, Colorado and Santa Fe Ry., being corporations of the State of Texas, are operated by their own officers, but for convenience the statistics of both of them are consolidated with those of The Atchi- son, Topeka and Santa Fe Ry. Co. Controlled Eoads, Operated Separately.— The AtcLison, Topeka and Santa Fe Ry. Co. owns practically all the stock and bonds of the California Eastern Ry. Co. and Pecos Valley and Northeastern Ry. Co.; all the stock and $2,963,000 out of $2,964,000 2d mortgage bonds of the Santa Fe, Prescott and Phoenix Ry. Co. ; more than 60 per cent, of the stock of the Grand Canyon Ry. Co.; half the stock of the Kansas Southwestern Ry. Co.. Leaven- worth and Topeka Ry. Co. and Sunset RR. Co. ; and owns or controls practically all the (Continued on page 462.) POOR'S MANUAL — THE ATCHISON, TOPEKA AND SANTA FE SYSTEM. 461 2. Lines Operated. — Statement in detail of the lines comprised in the Atchison Railway System, the operations of which are included in the statistics for the year ending June 30, 1902: ATCHISON, TOPEKA AND SANTA FE. RY. A., T. & S. F. Ry. proper (4,712.16 m.) ; Miles. Chicago, 111., to Kansas City, Mo., (inc., 7.87 m. leased) 452.80 Ancona to Pekin, 111. (inc., 5.91 m. leased) 58.44 No. Lex. to Winthrop, Mo. (inc., 19.56 m. leased) 9601 Atchison, Kan., to Denver, Col 736.96 Kansas City, Mo., to Topeka, Kan 66.04 Wilder to Hawthorne, Kan 45.41 Lawrence to North Ottawa, Kan 26.52 Burlingame to Alma, Kan 34.30 Osage City to Quenemo, Kan 19.42 North Ottawa to Emporia Junction, Kan. 54.26 Emporia to Moline, Kan 83.23 Benedict Junction to Madison June., Kan. 40.57 Bazar to Strong City, Kan : 11.68 Neva, Kan., to Superior, Neb. ( inc., 2.53 m. leased) 154.36 Abilene to Salina, Kan 22.56 Manchester to Barnard, Kan 43.56 Florence to Ellinwood, Kan 38.21 Little River to Holyrood, Kan 26.30 Florence to Winneld, Kan 72.73 Augusta to Mulvane, Kan 20.41 Newton, Kan., to Purcell, I. T 232.65 Wichita to Pratt, Kan 79.77 Mulvane to Englewood, Kan 166.38 Mulvane to Caldwell, Kan 37.01 Hutchison, Kan., to Ponca City, O. T 142.29 Hutchison to Kinsley. Kan 83.63 Great Bend to Scott City, Kan 120.07 Lamed to Jetmore, Kan 46.33 Pueblo to Canyon City, Col 40.23 Clelland to Rockvale, Col..- 3.53 Holliday, Kan., to Texas State Line 442.21 Burlington Junction to Gridley, Kan 52.36 Colony to Yates Center, Kan 24.71 Chanute to Fittsburg, Kan 57.71 Chanute to Longton, Kan 44.18 Cherryvale to Coffeyville, Kan 17.98 Independence to Cedarvale, Kan 54.79 Niotaze, Kan., to Owasso, I. T. (inc. 6.61 m. leased) 63.46 Wellington, Kan., to Tonkawa, O. T 43.36 Attica to Medicine Lodge, Kan 21.08 La Junta, Col., to Deming, N. M 578.82 Las Vegas to Hot Springs, N. M 8.09 Lamy to Santa Fe, N. M 18.13 Socorro to Magdalena, N. M 27.39 Rincon, N. M., to Texas State Line 56.74 Nutt to Lake Valley, N. M 13.52 Deming to Silver City, N. M 46.50 Whitewater to Santa Rita, N. M 18.81 Hanover Junction to Fierro, N. M 6.66 Eastern Oklahoma, Ry. (100.68 m.) : Miles. Guthrie to Ralston, O. T 89.76 Ripley to Gushing, O. T 10.93 Guthrie & Western Ry. : Seward to Cashion, O. T 10.60 Rio Grande & El Paso RR. : Texas State Line to El Paso, Tex 20.17 Total, Atchison,Topeka & Santa Fe Ry. 4,843.61 GULF, COLORADO AND SANTA FE RY. Galveston, Tex., to Purcell, Ind. Ter 518.67 Alvin to Houston, Tex 25.66 Somerville to Silsbee, Tex 153.24 Temple to San Angelo, Tex 229.28 Coleman Junction to Coleman, Tex 6.28 Cleburne to Weatherford, Tex 39.90 Cleburne to Paris, Tex 154.36 Wolfe City to Sherman, Tex. (leased) 38.70 Ladonia to Honey Grove, Tex 11.72 Total 1,177.81 SANTA FE PACIFIC RR. Isleta, N. M., to Bakersfleld, Cal. (inc. 309.65 m. leased) 875.30 SOUTHERN CALIFORNIA RY. Barstow to Los Angeles, Cal 141.12 Los Angeles to National City, Cal 131.98 San Bernardino to Orange, Cal 47.21 San Bernardino to Highland June., Cal 25.39 High Grove to Temecula, Cal 45.38 Perris to San Jacinto, Cal 19.44 Elsinore June, to Alberhil, Cal 7.76 Redondo June, to Redondo, Cal 20.59 Los Angeles Junction to Fallbrook, Cal — 18.16 Escondido June, to Escondido, Cal 21.30 Total 478.33 SAN FRANCISCO & SAN JOAQUIN VAL. RY. BaKersfleld to Point Richmond, Cal 304.07 Calwa Junction to Corcoran Junction, Cal. 68.41 Total 372.48 SOUTHERN KANSAS RY. OF TEXAS. State Line to Amarillo, Tex. (Inc. 14.04 m. leased) 129.17 RECAPITULATION. Atchison, Topeka and Santa Fe Ry 4,843.61 Gulf, Colorado and Santa Fe Ry 1,177.81 Southern California Ry 478.33 Santa Fe Pacific RR 875.30 San Francisco and San Joaquin Valley Ry. 372.48 Southern Kansas Railway of Texas 129.17 Grand Total, Atchison System 7,876.70 Total operated mileage of the Atchison Railway System, June 30, 1902 7,876.70 miles. Add mileage owned but not operated — Sonora Ry. Co. (Limited) 262.61 New Mexico and Arizona RR 87.78 " Total mileage of the Atchison Railway System, June 30, 1902 8,227.09 miles. Deduct mileage of lines operated, but not owned, as follows : Southern Pacific RR. : Needles to Mojave, Cal 242.37 m. Mojave to Kern Junction, Cal 67.28 m. Sf, Louis Southwestern Ry. : Wolfe City to Sherman, Tex 38.70 m. Fort Worth and Denver City Ry. : Washburn to Amarillo, Tex 14.04 m. Fremont, Elkhorn and Missouri Valley RR. : State Line to Superior, Neb 2.53 m. Toledo, Peoria and Western Ry. : Streator June, to Pekin June., Ill .... 5.91 m. Kansas City Belt Ry. : Big Blue Junction to Kansas City, Mo 6.44 m. Chicago, Rock Island and Pacific Ry. : St. Joseph, Mo., to Atchison, Kan 19.56 m. Missouri Pacific Ry. : Niotaze, Kan., to Indian Territory Line 6.61 m. Chicago and Western Indiana Ry. : Chicago Terminal 1.43 m. — 404.87 " Mileage owned absolutely or controlled by ownership of securities, June 30, 1902. .7,822.22 miles. 2d track, 85.50 m. ; yard track and sidings, 1,873.35 m. ; total track (steel, 9,167.27 m.), 9,835.55 miles. Gauge, 4 ft. 8% in. Rail, 56 to 75 Ibs. POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. stock of the Beaumont Wharf and Terminal Co., Gulf, Beaumont and Kansas City Ry. Co., Gulf, Beaumont and Great Northern Ry. Co. and Prescott and Eastern RR. Co. The Kan- sas Southwestern Ry., the Leavenworth and Topeka Ry., and the Sunset RR. are operated by their own organizations, and the statements for them will be found elsewhere in the MANUAL (see GENERAL INDEX) ; the operations of the other companies named are controlled by The Atchison, Topeka and Santa Fe Ry. Co., and the statements for those companies are subjoined hereto. San Francisco Terminals. — Freight terminals in San Francisco are supplied by the Santa Fe Terminal Co., of California, all of whose capital stock is owned by The Atchison, Topeka and Santa Fe Ry. Co. By virtue of a contract with the Harbor Commissioners of San Francisco, approved by the Legislature, a lease has been made for 50 years of a tract of partially submerged land known as ' ' China Basin, ' ' containing about 35 acres. The condi- tions of the lease are that, in addition to a nominal rental, the Terminal Company shall build a sea-wall and reclaim the land from the tide.. There have also been purchased by the Santa Fe Terminal Co. certain lots south of and adjoining "China Basin," con- taining about 17 acres. In order to obtain material for the work of reclamation it has been found advisable to purchase additional real estate in San Francisco to the value of upward of $400,000. The cost of improvements on the water front is estimated at $750,000. The work of filling "China Basin" is progressing satisfactorily. Con- siderable use has been made of this property for switching and distributing purposes, though much remains to be done to bring the entire yard up to grade. When com- pleted the terminals in San Francisco, in addition to those used at present, will con- sist of about 52 acre's on the water front with total water frontage of 3,811 feet, together with about 46 acres located slightly inland, which latter may be sold or used for railway purposes as may be deemed advisable. 3. History. — Incorporated under the laws of Kansas, Dec. 12, 1895, as successor to the Atchison, Topeka and Santa Fe RR. Co., whose property was sold under fore- closure on Dec. 10, 1895. (See MANUAL for 1898, page 276.) Possession was taken on Jan. 1, 1896. The company then acquired the fee simple of the line from Atchison to the western boundary of the State of Kansas, 470.41 miles, and the securities repre- senting the ownership of the rest of the system. Since then conveyances have been executed from time to time vesting in the company the fee simple of various other proper- ties as follows: Mississippi River RR.and Toll Bridge, 0.61 mile; Sibley Bridge, 0.76 mile; Wichita and Western Ry., 79.77 miles; Kansas City, Topeka and Western RR., 66.04 miles; Leavenworth, Northern and Southern Ry., 45.41 miles; Southern Kansas Ry., 834.06 miles; New Mexico and Southern Pacific RR., 371.76 miles; Rio Grande, Mexico and Pacific RR., 185.14 miles; New Mexican RR., 52.47 miles; Silver City, Deming and Pacific RR., 46.50 miles; Burlingame and Northwestern Ry., 34.30 miles; Silver City and Northern RR., 14.53 miles; Hutchinson and Southern Ry., 142.29 miles; Kansas and Southeastern RR., 9.07 miles; Santa Rita RR., 4.28 miles; Hanover RR., 6.66 miles; Denver and Santa Fe Ry., 116.33 miles; Pueblo and Arkansas Valley RR., 290.13 miles; Blackwell and Southern Ry., 15.94 miles; St. Joseph, St. Louis and Santa Fe Ry., 76.45 miles; Chicago, Santa Fe and California Ry., 491.09 miles; Kansas, Okla- homa Central and Southwestern Ry., 56.85 miles; Kansas City, Emporia and Southern Ry., 83.23 miles; Florence, El Dorado and Walnut Valley RR., 72.73 miles; Marion and McPherson Ry., 98.21 miles; Wichita and Southwestern Ry., 115.18 miles; Chicago, Kansas and Western RR., 887.24 miles; San Francisco and San Joaquin Valley Ry., 372.48 miles; and Atchison, Topeka and Santa Fe RR. in Chicago, 6.43 miles. The general and adjustment mortgages of The Atchison, Topeka and Santa Fe Ry. Co. have been duly recorded and have become a direct lien on all of the properties named. The bonds and stocks of the several absorbed companies, therefore, are no longer listed on the statement of securities pledged as collateral security for the funded debt. 4. Lien of Funded Debt. — The absolute title to 5,044.56 miles of railroad, together POOR'S MANUAL — THE ATCHISON, TOPEKA AND SANTA PE SYSTEM. 463 with all the company's equipment and the terminal properties in Chicago, is now vested in The Atchison, Topeka and Santa Fe Ry. Co., and the general mortgage and adjustment mortgage are direct liens thereon. The general mortgage is a first lien upon all this prop- erty except parts of the Chicago and Panhandle Divisions, which are subject to outstanding divisional bonds amounting to $2,324,000 in the aggregate, and The San Francisco and San Joaquin Valley Line, which was recently conveyed to The Atchison, Topeka and Santa Fe Ry. Co., subject to a mortgage for $6,000,000. Under an Act of Congress recently obtained it is proposed at an early day to cause the Santa Fe Pacific RR. to be conveyed to The Atchison, Topeka and Santa Fe Ry. Co., and this property there- upon will also become subject to the general mortgage and adjustment mortgage as first and second mortgages respectively. 5. Purchase of Petroleum Property. — Having become satisfied that petroleum is to be the fuel of the Pacific Coast, and realizing the necessity of an adequate supply, this com- pany purchased the entire capital stock of the Petroleum Development Company of Cali- fornia, which controls about 1,500 acres in the " Kern River " petroleum field. About 500 acres are " proven " oil-bearing land, estimated by experts to contain oil enough to supply fuel for the "Atchison" lines from San Francisco to Seligman, Ariz. (831.68 miles), as well as floating equipment in San Francisco Bay, for about one hundred years at the present rate of consumption, with every reason to suppose that the remaining 1,000 acres will also be oil bearing. An ample supply of cheap fuel is thus assured for the future. 6. Rolling Stock, June PASSENGER TRAIN. First Class Coaches 281 Second Class Coacbes 46 Chair 115 Coach and Baggage •. 38 Coach and Mail 11 Coach, Mail and Baggage.. 29 Composite 9 Baggage and Express 12 Baggage, Mail and Express. 189 Business 25 Dining 22 Parlor 5 Total . . . 782 30, 1902. — Locomotives, 1,312. Cars as follows: FREIGHT TRAIN. Box 13,235 Stock 4,064 Coal 8,664 Flat 2,183 Caboose 553 Fruit (Freight) 62 Refrigerator 2,806 Furniture 1,653 Beer 37 Oil Tank 944 Total 34,201 MISCELLANEOUS. Derrick 20 Pile Driver 20 Steam Shovel 12 Boarding 14 Water 106 Snow-plow 3 Tool 1 Paint 3 Ballast 1,188 Other 20 Total 1,387 7. Extensions Under Way or Projected. — About 250 miles of line are under construc- tion in Eastern Oklahoma, under the charter of the Eastern Oklahoma Ry. Co. The line will extend from Kildare, Okla., to Pauls Valley, Ind. T., passing through an excellent agri- cultural region. As the grade will be but 31.7 feet to the mile, the extension will form part of a through line to the south more favorable to economic operation than the present main line. On May 1, 1903, there had been completed 112 miles, and 72 miles additional were under construction. Bonds amounting to $5,645,000, secured by first mortgage on the road, have been issued to meet the cost of the work (see Sec. 16). Under the charter of the Bradshaw Mountain RR. Co. a line is being constructed from Mayer Station to Crowned King Mine, Ariz., about 27 miles, with a branch from Huron, Aria., to or near the head of Big Bug Creek, about 8 miles; on May 1, 1903, the road was prac- tically finished. It will be operated under lease by the Santa Fe, Prescott and Phoenix Ry. Co. The Kiowa, Chickasha and Fort Smith Ry. Co. was incorporated in Kansas, July 13, 1899, to build a line from Kiowa, Kan., in a southeasterly direction through Kansas, Oklahoma and Indian Territory to Fort Smith, Ark., a distance of about 450 miles. The Atchison, Topeka and Santa Fe Ry. Co. owns practically the whole capital stock of the company. The Eastern Ry. Co. of New Mexico, incorporated Oct. 30, 1902, in the interest of The Atchison, Topeka and Santa Fe Ry. Co., pro- poses to build in New Mexico a line from Rio Puerco, on the Santa Fe Pacific RR., to Texico, on the Pecos Valley and Northeastern Ry., about 265 miles, with two ^branches aggregating about 120 miles — a total of 385 miles. 464 POOR'S MANUAL OF RAILROADS SOUTHWESTERN GROUP. 8. General Income Account, year ending June 30, 1902. Earnings — Passenger $13,439,384 57 Freight 41,815,607 05 Mail and Express 3,089,122 85 Miscellaneous 790,971 06 otal (J7.527.97 per mile) $69,135,085 53 Expenses— Maint. Way and Struc 16,141,46639 Maintenance of Equipment. 7,864,951 25 Transportation 18,442,437 66 General Expenses .'. . . 1,460,413 33 Total ($4,316.69 per mile) $33,909,26863 Net earnings (42.66 p. c.), $25,225,816.90; add interest and discount, $428,444.78; income from investments, $706,247.34; sundry adjustments, $6,166.68 — total, $26,366,- 675.70. Payments: Taxes, $1,743,653.47; rental of tracks and terminals, etc., $368,- 326.44; interest on bonds, $6,385,145; interest on adjustment bonds, $2,053,840; advances to subsidiary companies, $171,928.16; depreciation of securities, $12,643.34; land depart- ment account (net), $66,612.41— total, $10,802,148.82. Surplus carried to profit and loss, $15,564,526.88. 8a. Earnings and Expenses, Supplementary Statement, year ending June 30, 1903, and comparison with year ending June 30, 1902. Miles Operated. 1903. . . 7,965 13 1902 7,85538 Increase 10975 *Decrease. Gross Operating Net Taxes 4 Net Earnings. Expenses. Earnings Rentals. Income. $62,350,397 28 $38,437,110 54 $23,913.286 74 $2,119,324 38 $21.793.962 36 59,135,085 53 33,909,268 63 25,225,816 90 2,111,979 91 23,113,836 99 3,215,311 75 4,527,841 91 *1,312,530 16 7,344 47 "1,319,874 63 9. Comparative statement of operations of the system, for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Average Miles Operated Passenger Train Miles Freight Train Miles 6,429.73 8,218,585 13,398,398 1,565,752 6,443.81 7,634,057 14,633,239 1,417,905 6.936.02 8,597,052 18,436,412 1,466,444 7,032.62 8,821,178 16,737,227 1,557,969 7,341.34 9.216,515 14,426,682 1,610,055 7,807.31 11,216,781 14,807,733 1,634,213 7,855.38 12,388,575 15,361,700 1,735,844 Mixed Train Miles Revenue Train Miles Passengers Carried Passenger Mileage , . Freight (tons) Moved. Freight (ton) Miles Passenger Earnings 23,182,735 4, 175,500 282,532,458 7,718,598 1,748,478,650 $ 6,269,683 19,626,994 3,102,920 23,715,201 3,536,968 243,052,426 8,207,325 2,062,483.268 $ 5,574,288 22,067,687 2,979,255 28,499,908 4,001,078 325,650,304 9,979,510 2,779,555,249 $ 7,347,362 28,588,717 3,278,020 27,116,374 4,383,961 356,783,683 8,924,678 2,893,011,496 8,126,142 29,492,586 2,894,770 25,253,252 4,811,466 412,937,134 9,893,018 3,454,591,785 $ 9,334,661 33,729,333 3,168,084 27,658,727 5,664,811 514,037,047 11,112,614 3,876,793,344 $ 11,678,017 39,052,557 3,744,248 29,486,119 6,379,128 607.670,582 11,596,093 4,231,748,520 $ 13,439,385 41,815,607 3,880,094 Freight Earnings Othpr Eftrnjnpi? Total Earnings 28,999,597 22,071,275 30,621,230 22,867,189 39,214,099 28,506,335 40,513,499 27,606,681 46,232,078 27,521,499 54,474,822 32,262.945 59,135,086 33,909,269 Operating Expenses Net Earnings 6,928,322 4,506 34 3,429 72 1,076 62 76.11 p.c. 2.211 c. 1.122c. 7,754.041 4,752 04 . 3,548 71 1,203 33 74.68 p.c. 2.293 c. 1.070 c. 10,707.764 5,653 69 4,109 90 1,543 79 72.69 p.c. 2.256 c. 1.029 c. 12,906,817 5,76080 3,925 52 1,83528 68.14 p.c. 2.278 c. 1.019 c. 18,710,579 6,297 49 3,748 84 2,548 65 59.53 p.c. » 2.261 c. 0.976 c. 22,211,877 6,977 41 4,132 40 2,845 01 59.23 p.c. 2.272 c. 1.007 c. 25,225.817 7,527 97 4,316 69 3,211 28 57.34 p.c. 2.212 c. 0.988 c. Gross Earnings per Mile Gross Expenses per Mile.. . . Net Earnings per Mile Expenses to Earnings Aver. Rate^>er Pass. p. Mile.. Aver. Rate p. Ton p. Mile. . . 1O. Profit and LOSS Account, June 30, 1902. — Surplus income for year, $15,- 564,526.88; surplus forward, $13,082,740.41— total, $28,647,267.29. Deductions: Divi- dends on preferred stock (5 p. c.), $5,708,690; on common stock (4 p. c.), $4,078,220: amount written off from construction account in respect of betterments, improvements, equipment, and discount on bonds already charged to that account, per vote of Executive Committee, July 17, 1902, $2,500,000; appropriation for fuel reserve fund, $250,448.32; adjustment on account of sale of Santa Monica Branch, $82,493.74 — total, $12,619,- 852.06. 'Balance, surplus June 30, 1902, $16,027,415.23. POOR'S MANUAL — THE ATCHISON, TOPEKA AND SANTA FE SYSTEM. 465 11. Income and profit and loss accounts for six years ending June 30: 1897 1898 1899 1900 1901 1902 Net Traffic Earnings $ 7,754,041 29 $ 10,707,764 12 $ 12,906,817 28 $ 18,710,578 80 $ 22,211,877 38 $ 25 225 816 90 Other Receipts 254,499 09 182,027 17 249,434 84 266,820 81 332,557 17 1 140,858 80 Net Income 8,008,540 38 10,889,791 29 13,156,252 12 18,977,399 61 22,544,434 55 26,366,675 70 514,451 10 295,540 58 208,560 48 282,691 58 359,093 28 368,326 44 1,363,532 61 1,420,123 05 1,460,649 99 1,543,601 63 1,681,335 59 1,743,653 47 4,608,858 03 4,992,148 30 5,188,132 00 5,291,326 50 5,776 970 83 6385 145 00 2,053,840 00 2,053,840 00 2,053,840 00 2,053,840 00 69,253 04 291,554 42 57,072 29 66,634 92 198,665 77 251,183 91 Totals 6,556,094 78 6,999,366 35 8,968,254 76 9,238,094 63 10,069,905 47 10,802,148 82 1,452,445 60 3,890,424 94 4,187,997 36 9,739,304 98 12,474,529 08 15 564,526 88 Surplus (Profit and Loss) Forward . 150,781 00 62,846 60 1,888,805 56 4,414,491 92 9,994,619 58 13,082,740 41 Totals . .... 1,603,226 60 3,953,271 54 6,076,802 92 14,153,796 90 22,469,148 66 28,647,267 29 *1,540,380 00 f2,053,840 00 Dividends on Preferred Stock. 1,141.657 66 3,139,556 75 5,708,690 00 5 708,690 00 1,529,332 50 4,078,220 00 Written off Cost of Road. 500,000 00 i,6bb,666 66 1,139,760 22 2,500,000 00 1000000 00 Other Profit and Loss Debits 10,625 98 20,654 00 19,620 57 8,625 53 332,942 06 Totals 1,540,380 00 2,064,465 98 1,662,311 00 4,159,177 32 9,386,408 25 12,619,852 06 62846 60 1 888805 56 4414,491 92 9994,619 58 13 082 740 41 16 027,415 23 •Paid from surplus to June 30, 1897, but shown here for convenleSje. tPaid from surplus to June 30, 1898, but shown here for convenience. 12. General Balance Sheet, The A., T. d 8. Fe Ry. Co. (System), June 30, 1902. (Including The Atchison, Topeka anc' Santr Fe Ry. Co., Gulf, Colorado and Santa Fe Ry. Co., Santa Fe Pacific RR. Co., Southern California Ry. Co., The Southern Kansas Ry. Co. of Texas, and The San Francisco and San Joaquin Valley Ry. Co.) Railr. Franchises and Other Prop. . $418,982,696 40 Construction and Equipment, 1901-02. 10,606,721 18 Investments in Other Companies 10,321,61775 Securities on Hand 3,252,962 92 Materials and Supplies 3,403,026 86 Prepaid Insurance Premium 32,019 98 Accounts Receivable 6,763,60833 Prior Accounts in Liquidation 1,27606 Cash on Hand and in Bank 20,544,405 62 Cash Deposit, Article 5. Gen. Mtge. 252,975 50 Cash Deposit, Fuel Reserve Fund. . . 548,032 72 Common Stock $102,000,00000 Preferred Stock $131,486,000 Less, in Special Trust. . . . 17,286,470—114,199,530 00 Funded Debt ( see below) 228,785,310 00 Special Betterment Fund 367,079 52 Rolling Stock Replacement Fund... 211,68757 Rail Renewal Fund 366,78116 Fuel Reserve Fund 548,03272 Accrued Taxes not yet Due 953,10364 Interest on Bonds, Due and Acer 3,713,435 00 Accounts Payable 7,316,58937 Prior Accounts in Liquidation 220,379 11 Profit and Loss 16,027,415 23 Total Assets $474,709,343 22 Total Liabilities $474,709,34332 13. Abstract of general balances on June 30, 1901 and 1902 (for general balances of the years previous to 1901, see MANUAL for 1902, page 438) : 1901 1902 1901 1902 Cost of Property $ 415,738,162 3,992,948 2,293,276 3,475,623 9,484,201 6,080,336 3 429,589,417! 10,321,618 3,403,027 3,252,963 20,544,406 7,597,912 Common Stock S 102,000,000 114,199,530 199,035,710 2,460,777 10,285,789 13,082,740 $ 102,000,000 114,199,530 228,785,310 1,493,581 12,203,507 16,027,415 Preferred Stock- Materials and Supplies . . Treasury Securities .... Cash Funded Debt Other Liabilities Other Assets Profit and Loss Total Assets Total Liabilities 441,064,546 474,709,343 1 | 441,064,546! 474,709,343 14. Capital Stock. — The authorized amount of preferred stock is $131,486,000, but $6,486,- 470 thereof is reserved in special trust for improvements, extensions, etc., and $10,800,000 for the acquisition of auxiliary lines, leaving in the hands of the public $114,199,530. The preferred stock is entitled to 5 p. c. non-cumulative dividends out of the net profits, and to the par amount of It out of assets in case of dissolution or liquidation of the company, in priority to common stock. It Is provided that no mortgages other than the general and adjustment mortgages shall be executed by the company, nor shall the amount of preferred stock be increased without the consent of a major- ity of the whole amount of preferred stock outstanding, given at a meeting called for that purpose, 466 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. and the consent of the holders of a majority of such part of the common stock as shall be represented at such a meeting. 15. Funded Debt. — The funded debt, as per General Balance Sheet, consisted of $138,728,500 of gen. mtge. bonds, $51,728,000 of adjustment mtge. bonds, $30,000,000 of serial debentures, $1,500,000 of Chicago and St. Louis Ry. bonds, $6,000,000 of the S. P. & S. J. V. Ry. bonds, and $828,810 of miscellaneous bonds — a total of $228,785,310; but this included $2,475,000 of gen. mtge. bonds, and $382,000 of adjustment mtge. bonds held in the treasury of the company. The fol- lowing is a statement of the outstanding funded debt on July 1, 1902 (total, $225,923,500), includ- ing the outstanding bonds of the Hutchinsoa and Southern Ry Co., but not including treasury assets : ijt 1,5OO,O Chicago and St. Louis Ry. 1st 6s of March 1, 1915. Secured on the line from Cor- with to Pekin, 111., 147.7 miles. $629,OOO Chicago, Santa Fe and California Ry. 1st gold 5s of Jan. 1, 1937. Secured on the lines from Corwith, 111., to Big Blue Junction, Mo., 439.94 miles, and from Ancona to Pekin, 111. (less 5.91 miles of trackage between Streator June, and Pekin June., 111.), 52.4 miles. The Chicago and St. Louis Ry. bonds underlie these on the line from Corwith via Ancona to Pekin, 111., 147.7 miles. The total amount of these bonds is $15,- 350,000, but The Atchison, Topeka and Santa Fe Ry. Co. owns and has deposited as security for its gen. mtge. bonds $14,721,000 thereof. $195,OOO Hutchinson and Southern Ry. 1st gold 5s of Jan. 1, 1928. Secured on the line from Hutchinson, Kan., to Cross, O. T., 142.29 miles. The total issue amounts to $719,000, but The At- chison, Topeka and Santa Fe Ry. Co. owns $524,- 000 thereof. The bonds are subject to redemption on any interest day after Jan. 1, 1908, at 105 p. c. and accrued interest. 96,OOO,OOO San FroncJfco and San Joaquin Valley Ry. 1st gold 5s of Oct. 1, 1940. Secured on the lines from Bakersfield to San Francisco, Cal., and from Calwa to Corcoran Junction, Cal., a total of 372.57 miles. There is a sinking fund of 1 p. c. of net profits from Jan. 1, 1916, to 1921 ; 2 p. c. to 1926; 3 p. c. to 1931; 4 p. c. to 1936; and 5 p. c. to 1940. The bonds may be drawn at 110 p. c. after 1915. ^136,253,500 gen. gold 4s of Oct. 1, 1995. Se- cured on the entire property of the company, whether now owned or hereafter acquired, but subject to the mortgages or deeds of trust se- curing the bonds described in the preceding four paragraphs. They are also secured by col- lateral lien upon the rest of the Atchison Sys- tem, the bonds and stocks of the subsidiary companies being deposited with the trustee under this mortgage, as shown in Sec. 20. The total amount authorized by the mortgage is $165,490,500, the bonds unissued on July 1, 1902, being re- served for the retirement of prior liens, for the acquisition and improvement of other rail- roads and for new construction, betterments, additional rolling stock, etc. (See MANUAL for 1900, page 463.) $51,346,OOO adjustment gold 4s of July 1, 1995. Secured on the same property as the gen. mtge. bonds, but subject to the lien thereof. Originally interest was payable yearly, on the 1st of Nov. if earned, but under an agreement dated Sept. 14, 1899, interest is now payable in half yearly Installments upon complying with the terms of said agreement. Since July 1, 1900, interest has been cumulative at the rate of 4 p. c. a year. In the mortgage securing these bonds provision is made for the issue of $20,000,000 of bonds in addition to the $51,728,000 outstanding, after the $30,000,000 of gen. mtge. bonds reserved for improvements, etc. (of which $14,500,471 re- mained unissued on July 1, 1901), shall have been issued and used ; but such additional ad- justment bonds can be issued only with the con- sent of the holders of a majority of all adjust- ment bonds outstanding. Such additional ad- justment bonds are reserved under carefully guarded restrictions, so that they can be used only for improvements in the same manner as the $30,000,000 gen. mtge. bonds, and so that tney can be issued at a rate not exceeding $2,000,000 per annum, of which amount $500,000 per annum may be for the construction of branches and extensions. 930,OOO,OOO serial debenture gold 4s of Feb. 1, 1903, 1914, divided into twelve series, designated Se- ries A to Series L, each series amounting to $2,- 500,000. One series, beginning with "A" is payable on each 1st of Feb., from 1903 to 1914, and each of them is subject to redemption on any interest day at 105 p. c. and accrued interest. Series A was retired on Feb 1, 1903. The company covenants that it will not execute any new mort- gage upon any of the lines of railway now owned by it, except by way of further security for bonds issued under existing mortgages, unless by the terms of such new mortgage it shall be provided that all of said debentures then out- standing shall be included in the debt secured by such new mortgage. 16. Eastern Oklahoma, Division Bonds. — To cover the cost of the lines building or to be built under the charter of the Eastern Oklahoma Ry. Co. (see Sec. 6) $5,645,000 of The Atchi- son, Topeka and Santa Fe Ry. Co.'s Eastern Oklahoma Division 25-year 4 p. c. 1st mtge. gold bonds have been issued. The mortgage is dated Feb. 26, 1903, and is In favor of the Guaranty Trust Co. of New York, trustee. The bonds mature March 1, 1928, and the interest on them is payable March 1 and Sept. 1. The authorized issue is $10,000,000. The mortgage covers, as a direct first Hen, all lines of railway and branch lines now owned by The Eastern Oklahoma Ry. Co. or that hereafter may be constructed or acquired by it, including the following described lines of railway, of the aggregate length of 282.25 miles : From Newkirk to Pauls Valley, Ind. T., 183.57 miles ; from Guthrie Junction to Esau, Okla., 77.90 miles ; from Ripley to Gushing, Okla., 10.18 miles ; and from Seward to Cashion, Okla., 10.60 miles. All the stock of The Eastern Oklahoma Ry. Co., except the qualifying shares of directors, is owned by The Atchison, Topeka & Santa Fe Ry. Co. The latter undertook the construction of the above- described lines of railway and provided the entire cost thereof. The Eastern Oklahoma Ry. Co., in consideration thereof, became indebted to the Atchison Company in the sum of $5,645,000, being the amount of the bonds now issued, which indebtedness to The Atchison Company was dis- charged through the execution by The Eastern Oklahoma Ry. Co. of the mortgage for the benefit and security of the holders of the bonds. The unissued $4,355,000 of the total authorized issue of th£ bonds can be issued and can be certified by the trustee under the mortgage only from time to time, at a rate not exceeding $20,000 per mile for each mile of railway, in addition to said 282.25 miles, that shall be constructed or otherwise acquired by The Eastern Oklahoma Ry. Co., and upon which the mortgage shall become a first lien. 17. Railroad, Franchises and Other Property. — Amount June 30, 1901, $412,107,- 188.14 ; and for construction and equipment, year ending June 30, 1901, $3,376,378.88 ; and for new acquisitions during same year, $4,057,873.15 — total, $419,541,440.17. There have been trans- ferred to a separate account Investments in other companies amounting to $3,803,278.10. Balance brought forward, $415,738,162.07 ; additional expenditures during year ending June 30, 1902 : Santa Fe Pacific RR., $86,711.82 ; Eastern Oklahoma Ry., $1,065,970.02 ; Santa Fe Terminal Co. POOR'S MANUAL — THE ATCHISON, TOPEKA AND SANTA FE SYSTEM. 467 of Cal., $137,553.95 ; Kansas City Belt Ry. Co. capital stock, $175,000 ; San Francisco terminal property, $795,986.22 ; real estate, Oakland, $6,026.10 ; Southern California Ry. Co. preferred stock, $1,149,799.04 — total, $3,417,047.15; less sundry adjustments, $172,512.82), $3,244,534.33 — total, as per general balance sheet, $418,982,696.40. 18. Investments In Other Companies. — Gulf, Beaumont and Kansas City Ry. ( including $1,073,198.10 transferred from cost of property as of June 30, 1901), $1,486,981.50; Pecos Valley and Northeastern Ry. (including $2,675,901.83 transferred from cost of property as of June 30, 1901), $3,465,935.15; Santa Fe, Prescott and Phoenix Ry., $2,889,934.98; Kansas Southwestern Ry., $181,045.25; Sunset RR., $136,656.50; Leavenworth and Topeka Ry. (transferred from cost of property as of June 30, 1901, $44,651; credit during year, $4,768.88), $39,882.12; Kiowa, Chickasha and Ft. Smith Ry. (including $9,527.17 transferred from cost of property as of June 30, 1901), $200,040.45; California and Nevada RR., $4,000; California Eastern Ry., $355,364.55; Santa Fe Land Improvement Co., for capital stock of Petroleum Development Co., $1,256,577.25 ; Grand Canyon Ry., $297,200 ; Pueblo Union Depot and RR. Co., capital stock, $8,000 — total, $10,- 321,617.75. 19. SECURITIES IN TREASURY, JUNE 30, 1902, CONSISTED OF THE FOLLOWING: Par Value. The A., T. & S. F. Ry. Co. General Mortgage 4 p. c. Bonds $2,477,336 26 Adjustment Mortgage Bonds 382,000 00 Preferred Capital Stock. 25,800 00 Common Capital Stock 44,500 00 Arizona and Utah Ry. Co. First Mortgage 6 p. c. Bonds 101,000 00 County Bonds 11,400 00 Kansas City Belt Ry. Co. First Mortgage Bonds 25,000 00 U. S. of Mexico Interior Consolidated Debt 3 p. c. Bonds 1,100,000 00 Estimated Value. $2,477,336 26 362,900 00 24,510 00 31,150 00 33,666 66 11,400 00 25,000 00 287,000 00 Totals $4,167,036 26 $3,252,962 92 The amount of A., T. & S. F. Ry. Co. gen. mtge. bonds shown in the preceding statement in- cludes $2,336.26 of fractions due. There remain unissued gen. mtge. bonds amounting to $14,500,471, of which $6,000,000 are now available and $3,000,000 additional may be issued on or after the first day of July of each year. Furthermore, the company owns unpledged stocks and bonds of other companies of a cash cost of $10,281,735.63 (included in Sec. 18), and also the securities representing the ownership of the Eastern Oklahoma and Guthrie and Western Railways, which are included in the balance sheet under the head of "Railroads, Franchises and Other Property." Including the Eastern Oklahoma and Gutn- rie and Western Railways, the total mileage controlled by these unpledged stocks amounts to 1,024.79 miles of railroad. 20. STOCKS AND BONDS PLEDGED AS SECURITY FOR FUNDED DEBT, JUNE 30, 1902. STOCKS. The Atch. City Elev. Co Atch. Union Dep. & RR. Co — Aztec Land & Cattle Co., Ltd... The Cafion City Coal Co Cher. & Pitts. Coal & Min. Co. . Chic. Un. Trans. Ry. Co., Pref . . Chic. Un. Trans. Ry Co., Com.. Forest Park & Cen. RR. Co Gulf, Colo. & S. Fe Ry. Co The Kan. City Belt Ry. Co The Las Vegas Hot Springs Co. The Leav. & Topeka Ry. Co The Leav. Dep. & RR. Co New Mex. & Ariz. RR. Co The New Mexico Town Co The Osage Carbon Co Pacific Land Imp. Co The Peck Water Works Co Raton Coal and Coke Co Rio Grande & El Paso RR. Co.. Rio Grande Land Co Rush Center Town Co St. Joseph Term. RR. Co St. Joseph Union Dep. Co Santa Fe Pacific RR. Co The S. Fe Term. Co. of Cal — The S. Fe Town & Land Co Sonora Ry. Co., Ltd So. Cal. Ry. Co., Pref So. Cal. Ry. Co., Com 21. PROPRIETARY LINES OF THE ATCHISON, TOPEKA AND SANTA FE RY. Co. Total. $30,400 18,000 215,700 425,000 200,000 Pledged. $30,400 18,000 215,500 424,650 198,900 Total. Pledged. The So. Kan. Ry. Co. of Tex... $604,500 $595,500 The Trin. Coal & Coking Co... 162,500 161,800 Union Dep. Co. (Kan.City.Mo.). 90,000 89,800 Union Pass. Dep. Co. of Galv. . 200,000 199,500 The Vulcan Fuel Co 600,000 599 993 40,000 40,000 40,000 40,000 Totals $28 889 105 $28 850 198 1,600 4,560,000 50,000 246,600 25,000 1,600 4,547,000 49,700 245,900 24,600 BONDS. Atch. Union Dep. & RR. Co. 2d 5s $9,000 Cal. Cent. Ry. Co. 1st 6s 6457,000 12,500 12,000 Cal. So. RR. Co. 1st 6s 2,056,000 3,682,000 3,681,500 Cal. So. RR. Co., Inc. 6s 3,500,220 47,500 47.150 Devlin Coal Co. 1st 6s 276,000 300,000 299,100 Gulf, Colo. & S. Fe Ry. Co. 1st 7s 12,695,000 100,000 99,500 Gulf, Colo. & S. Fe Ry. Co. 2d 6s 8,614,000 37,200 36,700 Kan. City Belt Ry. Co. 1st 6s 25,000 500,000 499,400 Kan. City N. W. RR. Co. 1st 5s 2,000 200,000 250,000 199,300 249,500 The Leav. & Top. Ry. Co. 1st 4s 50,000 New Mex. & Ariz. RR. Co. 1st 6s 2,313,000 1,205 1,205 New Mex. & Ariz RR Co. 2d 6s 950000 150,000 148,500 Redondo Beach Ry Co 1st 6s 270000 1,000 4,000,000 900 3,998,700 Rio Grande & El Paso RR. Co. 1st 6s 500,000 Santa Fe Pacific RR. Co. 1st 4s 16,000,000 1,000,000 250,000 1,049,600 999,300 249,700 1,048,300 Sonora Ry. Co., Ltd., 1st 7s 5,248,000 The So. Kan. Ry. Co. of Tex. 1st 5s 1,583,000 Tne Union Pass. Dep. Co. of Galv 64,000 3 046 800 3 046 800 6,752,000 6,749.800 Total . ...$60.612.220 GULP, COLORADO AND SANTA FE RY. — Length of lines (see Sec. 2), 1,177.81 miles. Rail (steel), 65 and 75 Ibs. HISTORY. — Chartered May 28, 1873. (See MAN- UAL, for 1891, page 23, and MANUAL for 1898, page 281.) FINANCIAL STATEMENT.— Stock and bonds are all owned by The A., T. & 9. F. Ry. Co., and are deposited with the trustee, under the gen. mtge. of 1895. CORPORATE OFFICERS. — E. P. Ripley, Pres., Chicago ; A. C. Torbert, Sec. & Treas., Galves- ton, Tex. General Office, Galveston, Tex. SANTA FE! PACIFIC RR — Length of lines (see Sec. 2), 875.30 miles. HISTORY. — Organized June 16, 1897, accord- 468 POORS MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Ing to act of Congress approved March 3, 1897, to take over and operate the Western Division of the Atlantic and Pacific RR. (See MANUAL for 1898, page 282.) FINANCIAL STATEMENT. — Stock ($4,000,000) and bonds ($16,000,000) aVe all owned by The A., T. & 8. F. Ry. Co. and are deposited with the trustee under the gen. mtge. of 1895. CORPORATE OFFICERS.— E. P. Ripley, Pres , Chicago, 111. ; Godfrey Holterhoff, Jr., Treas., Los Angeles, Cal. ; L. C. Deming, Sec., New York, N. Y. SOUTHERN CALIFORNIA RY Length of lines (see Sec. 2), 478.33 miles. HISTORY. — Consolidation, Nov. 7, 1889, of the Cal. Central Ry., Cal. Southern RR., and the Redondo Beach RR. The San Bernardino anrt Eastern and the Santa Fe and Santa Monica Ry. Cos. were subsequently absorbed. ( See MANUAL. for 18J7, p. 275.) FINANCIAL STATEMENT. — Capital stock- - common, $6,752,000 ; preferred, $6,072,000 ; funded debt (Cal. So. RR. 1st mtge. 6s, $2,057,000; Cal. So. RR. income 6s, $3,500,740; Cal. Cent. Ry. 1st mtge. 6s, $6,457,000; Red. Beach RR. Co., $270,000), $12,284,740. The Atchison, Topeka and Santa Fe Ry. Co. owns all the bonds, all the common stock and $5,840,800 of the preferred stock. For secur- ity of the bonds and other information relative to stock and bonds, see MANUAL for 1896, page 360. CORPORATE OFFICERS. — E. P. Ripley, Pres., Chicago, 111. ; Godfrey Holterhoff, Jr., Sec. & Treas., Los Angeles, Cal. ; L. C. Deming, Asst. Sec., New York, N. Y. General Office, Los An- geles, Cal. Operating Office, Los Angeles, Cal. 22. Board of Directors, The A., T. d 8. F. Ry. Co. as constituted January I, 1903. Term expires Dec., 1903. H. Rieman Duval New York, N. Y. Thomas P. Fowler ' Victor Morawetz " Chas. S. Gleed Topeka, Kan. Term expires Dec., 1904. Edw. J. Berwind New York, N. Y. R. Somers Hayes " " E. D. Kenna Chicago, 111. Andrew C. Jobes Wichita, Kan. Term expires Dec., 1905. Benjamin P. Cheney Boston, Mass. George G. Haven New York, N. v. John G. McCullough Bennington, Vt. Term expires Dec.. 1906. Edward P. Ripley Chicago, 111. Byron L. Smith Charles Steele New York, N. Y. Howel Jones Topeka, Kan. EDWARD P. RIPLEY, President Chicago, 111. E. D. Kenna, 1st V ice-President Paul Morton, 2d V ice-President J. W. Kendrick, '3d V ice-President Sec. and Treas. — E. Wilder Topeka, Kan. Aast. Secretary — L. C. Deming.. New York, N. Y. Asst. Treas. — H. W. Gardiner.. Comptroller — D. L. Gallup New York, N. Y. Deputy Compt. — D. J. Sheehan. Gen. Aud. — H. C. Whitehead Chicago, 111. PRINCIPAL OFFICE AND ADDRESS Topeka, Kan. New York Office 5 Nassau St., Manhattan. Chicago Office 77 Jackson Boulevard. ATCHISON SYSTEM. — Railroads Controlled by The Atchison, Topeka and Santa Fe Ry. Co., but •whose Statistics are not Included in the Accounts of the Consolidated System. BEAUMONT WHARF AND TERMINAL CO.— In city of Beaumont, Tex. (main line, 2.27 m.; branches, 0.95 m.), 3.22 m.; trackage, T. & F. S. RR., 0.19 m.— total, 3.41 miles. Gauge, 4 ft. 8^ in. Rail (steel), 56 Ibs. History. — Chartered March 26, 1897; commenced business in 1898. A controlling interest in the capital stock of this company has been acquired by The Atchison, Topeka and Santa Fe Ry. Co. Rolling Stock, June 30, 1902.— Locomotive, 1. Cars (box freight), 88. The cars are leased to the Gulf, Beaumont and Kansas City Ry. Co. Operations, year ending June 30, 1902. — Gross earnings (switching and miscel- laneous), $40,452. Operating expenses, $40,759. Loss from operations, $307. Charges: Interest on bonds, $5,000; other interest, $1,087; taxes. $420; other, $19— total, $6,526. Deficit, $6,833; surplus forward ($7,633; less deduction during year, $1,250). $6,383. Net deficit, $450. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $60,000; funded debt (gold 5s of July 1. 1930), $100,000; equipment notes. $7,385; lease war- rants, $7,440; current liabilities, $4,938; taxes accrued, $130; rolling stock replace- ment fund, $3,100 — total, $182,993. Contra: Cost of property, $157.214; bills receivable. $23,920; cash and current assets, $1,409; profit and loss, $450 — total, $182,993. Directors (elected April 8, 1903).— E. P. Ripley, Chicago, 111.; John H. Kirby. Houston, Tex.; J. W. Terry, L. J. Polk, A. C. Torbert, Galveston, Tex.; W. S. David- son, Win. Wiess, W. A. Fletcher. W. E. Maxson, Beaumont, Tex. OFFICERS: E. P. RIPLEY, Pres., Chicago, 111.; John H. Kirby, 1st Vicc-Pres., Houston, Tex.; W. E. Maxson, i't toll's MAM'AI.— TIIK ATCHISON, TOPKKA AND SAXTA FE SYSTEM. 469 Vice-Pres.; W. S. Davidson, Treas.; C. J. Webb, 8cc., Beaumont, Tex. GENERAL OFFICE, Beaumont, Tex. CALIFORNIA EASTERN RY.— Projected: Blake, Cal., to Goode Springs, Nev.. 80 miles. Completed up to June 30, 1901; Blake to Manvel, Cal., 29.44 m.; total track (steel; 52 Ibs.), 29.94 miles. Gauge, 4 ft. 8y2 in. History. — Successor, April 20, 1896, to the Nevada Southern Ry. Co. (see MANUAL for 1895, page 298). Rolling Stock. — Locomotive, 1. Passenger car, 1. Other equipment is rented as needed. ^ Operations.— Not reported; for latest statement see MANUAL for 1902, page 616. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock $100 shares), $588,800; funded debt (1st 5s of July 1, 1921), $441,000; notes payable, $45,000; profit and loss, $1,576 — total, $1,076,376. Contra: Cost of road and equipment, $330,- 978; construction not completed, $41,322; cash on hand, $5,254; securities issued in excess of cost of road and equipment, $698,824 — total, $1,076,376. The Atchison, Topeka and Santa Fe Ry. Co. holds 5,881 shares of the capital stock, and the directors the remaining 7 shares. Directors. — E. P. Ripley, Chicago, 111.; Victor' Morawetz, E. J. Berwind, G. G. Haven, Thomas P. Fowler, R. Somers Hayes, R. S. Seibert, New York; N. Y. OFFICERS: E. P. RIPLEY, Pres.; E. D. Kenna, 1st Vice-Pres.; Paul Morton, 2d Vice- Pres.; J. W. Kendrick, 3d Vice-Pres., Chicago, 111.; G. Holterhoff, Jr., Treas., Los Angeles, Cal.; L. C. Deming, Sec., New York, N. Y. GENERAL OFFICE, Los Angeles, Cal. GTJLF, BEAUMONT AND KANSAS CITY RY.— Beaumont to Rogan, Tex., 62.37 m.; total track (steel; 35 to 61 Ibs.), 83.60 miles. Leased (see Gulf, Beaumont and Great Northern Ry. ) , 1 1.22 miles. Total length of lines operated, year ending June 30, 1902, 73.59 miles. Gauge, 4 ft. 8*/2 in. History. — Chartered March 21, 1893; road opened as above in April, 1899. (See MANUAL for 1895, page 244.) Controlled by The Atchison, Topeka and Santa Fe Ry. Co. through ownership of about 99 p. c. of the capital stock. Rolling Stock, June 30, 1902. — Locomotives, 4. Cars — passenger, 2; baggage, etc., 2; freight (box, 53; flat, 301; coal, 50; log, 258), 662— total, 666. Operations, year ending June 30, 1902. — Trains run (passenger, 62,529; freight, 92,296; mixed, 7^317), 162,142 miles. Passengers carried, 45,883; carried one mile, 1,222,005. Tons freight moved, 639,637; ton-miles, 19,611,643. Earnings (passenger. $38,941; freight, $274,978; other, $28,807), $342,726. Operating expenses, $351,136. Loss from operations, $8,410. Charges: Interest on bonds, $84,321; taxes, $5,553; other charges, $26 — totaj, $89,900. Deficit, $98,310; surplus forward, $16,903; less deductions during year, $1,623; net deficit, $83,030. General Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $500,000; funded debt, $1,499,500; equipment notes, $96,300; current liabilities, $318,012; interest accrued, $35,096; accrued taxes, $2,803; cancelled bonds, $500; rolling stock replace- ment fund, $22,585; other liabilities, $6,723 — total, $2,481,519. Contra: Cost of road and equipment, $2,277,691; materials, etc., $36,413; cash and current assets, $83,718; other assets, $667— total, $2,481,519. Funded Debt outstanding on June 30, 1902, consisted of $749,500 ($750,000 auth.) 1st 6s of Aug. 1, 1913; $176,000 2d 6s of Aug. 1, 1913; and $574,000 2d 5s of Aug. 1, 1913. RAILROAD LEASED BY THE G., B. & K. C. RY. Co. Gulf, Beaumont and Great Northern RR. — Projected : Sabine Pass to Paris, Tex., 350 miles. Completed to June 30, 1902 : Rogan to Ridgeway, Tex., 37.55 m. — total track (steel; 60 Ibs.), 38.43 miles. Chartered Aug. 5, 1898. The road is under construction. The section from Rogan to Ridge- way was finished before Jan. 1, 1903, but during the year ending June 30, 1902, only a part of it, from Rogan to Jasper, 11.22 miles, was operated. An extension from Jasper to San Augustine, 48.48 miles, was put In operation in March, 1903. The road is leased to the Gulf, Beaumont and Kansas City Ry. Co. from Aug. 1, 1901. Balance sheet, June 30, 1902. — Capital stock ($350,000 auth.), $77,500; funded debt (1st gold 5s of July 1, 1930, $493,000 auth.), $487;000 ; other liabilities, $100,613 — total, $665,113. Contra : Cost of road and equipment, $638,247 ; other assets, $26,866 — tetftl. $665,113. E. P. Ripley, Pres., Chicago, 111. ; John H. Kirby, 1st Vice-Pres., Houston, Tex. ; W. E. Max- son 2d Vice-Pres. ; C. J. Webb. Sec. & Aud. ; W. S. Davidson, Treas., Beaumont, Tex. Gen- eral Office, Beaumont, Tex. Directors. G. B. & K. C. Ry. (elected April 8, 1903).— E. P. Ripley, Chicago, 111.; J. H. Kirby, Houston, Tex.; L. J. Polk, J. W. Terry, A C. Torbert, W. C. Nixon, Gal- veston, Tex.; W. E. Maxson, Beaumont, Tex. OFFICERS: E. P. RIPLEY, Pres., Chicago, 111.; J. H. Kirby, 1st Vice-Pres., Houston, Tex.; W. E. Maxson, 2d Vice-Pres.; W. S. Davidson, Treas.; C. J. Webb, Sec., Beaumont, Tex. GENERAL OFFICE, Beaumont, Tex. 470 I'OOll's MAM'AL OK KAILUOADS SOl'Tll WKSTKUN CROUP. GRAND CANYON RY. -Projected: Williams, Ariz., to Grand Canyon of the Colo- rado near Bright Angel Trail, 71 miles. Completed to Jan. 1, 1903: Williams to Grand Canyon, 63.58 m. ; Anita Branch, 2.87 m. — total, 66.45 miles. History. — Reorganization, Aug. 10, 1901, of the Santa Fe and Grand Canyon RR. Co.. whose property was sold under foreclosure in July, 1901. The Atchison, Topeka and Santa Fe Ry. Co. owns or controls a majority of the capital stock, and operates the road, but the results from operation are not included in the accounts of the con- solidated system. Financial Statement. — Capital stock authorized (preferred, $250,000; common, $1,205,000), $1,455,000; ifcmed (preferred, $201,300; common, $1,205,000), $1,406,300. The Santa Fe Pacific RR. Co. owns all the preferred stock and $528,300 common stock, the directors own $700 of the common stock and individuals own $370.000 of the common stock. Directors.— E. P. Ripley, E. D. Kenna, W. B. Jansen, F. T. A. Junkin, F. A. Norton, Chicago, 111.; W. R. Page, Proctor, Vt.; G. Holterhoff, Jr., Los Angeles, Cal.; I. L. Hibbard, Winslow, Ariz.; R. J. Arey, Williams, Ariz. OFFICERS: E. P. RIPLEY, Pres., Chicago, 111.; A. G. Wells, Vice-Pres.; G. Holterhoff, Jr., Sec. & Trees., Los Angeles, Cal. GENERAL OFFICE, Los Angeles, " Cal. PECOS VALLEY AND NORTHEASTERN RY.-Pecos to Amarillo, Tex., 370.24 m.; total track (steel; 53 Ibs.), 392.b'l miles. Gauge, 4 ft, Sl/2 in. History. — Successor to the Pecos Valley RR. Co., whose property was sold under foreclosure on April 19, 1898. (See MANUAL for 1898, page 860.) The road was opened throughout on March 1, 1899. The section from Pecos. to the New Mexico Line, 54.27 miles, is known as the Pecos River RR.; the section from Amarillo to the New Mexico Line, 94.50 miles, is known as the Pecos and Northern Texas Ry. The laws of the State of Texas require the maintenance of these separate organizations. Their capital stocks, except the shares held by directors, are deposited with the Central Trust Co. of New York, N. Y., as part security for the bonds of this company. The Atchison, Topeka and Santa Fe Ry. Co. has acquired substantially all the stock and bonds of the P. V. & N. Ry. Co. Rolling Stock, June 30, 1902. — Locomotives, 18. Cars — passenger, 6; baggage, etc., 7; freight (box, 85; flat, 46; coal, 34), 165; other, 21— total, 199. Operations, year ending June 30, 1902. — Trains run (passenger, 147,539; freight, 311,677; mixed, 38.223; other, 7,032), 504,471 miles. Passengers carried, 61,243; car- ried one mile, 3,289,625. Tons freight moved, 265,468; ton-miles, 22,137,066. Earn- ings (passenger, $108,497; freight, $451,148; other, $58,134), $617,779. Operating ex- penses, $411,756. Net earnings, $206,023; other receipts, $2,164 — total, $208,187. Pay- ments: Interest on bonds, $145,800; taxes, $18,886 — total, $164,686. Surplus, $43,502; deficit forward, $97,572; sundry additions during year, $201 — total deficit, $53,869. General Balance Sheet, June 30, 1902. — Capital stock ($3,162,000 common, and $3,162,000 6 p. c. non-cumulative preferred; $100 shares), $6,324,000; funded debt (1st gold 5s of Jan. 1, 1948; $3,162,000 auth.), $2,984,000; current liabilities, $157,952; taxes accrued, $9,108 — total, $9,475,060. Contra: Cost of road and equipment, )j>9,076,- 343; bonds in treasury, $68,000; materials, etc., $17,407; current accounts, $38,515; cash, $190,926; profit and loss, $53,869 — total, $9,475,060. Directors (elected Dec. 4, 1902).— H. U. Mudge, Topeka, Kan.; Avery Turner, D. A. Sweet, A. L. Conrad, J. C. Paul, Amarillo, Tex. ; J. J. Hagerman, E. A. Cahoon, John W. Poe, Roswell, N. Mex. ; E. P. Ripley, E. D. Kenna, Chicago, 111. OFFICERS: H. U. MUDGE, Pres., Topeka, Kan.; Avery Turner, Vice-Pres. ; D. A. Sweet, Sec.; J. C. Paul, Treas.; A. L. Conrad, And., Amarillo, Tex. GENERAL OFFICE, Amarillo, Tex. PERRIS AND LAKEVIEW RY. — Junction near Perris to Lakeview, Cal., 8.03 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 50 Ibs. Chartered Nov. 1, 1898; road built be- fore Dec. 31, 1898. Not yet opened for traffic. To be operated as a branch of the Southern California Ry. Capital stock pa^^n ($80,000 auth.; $100 shares), $16,000. Controlled in the interest of The Atchison, Topeka and Santa Fe Ry. Co. Directors.— A. G. Wells, E. Chambers, J. R. Hitchcock, G. A. Davidson, Jr., G. Holter- hoff, Jr., Los Angeles, Cal. OFFICERS: A. G. WELLS, Pres.; G. Holterhoff, Jr., Sec. d Treas., Los Angeles, Cal. GENERAL OFFICE, Los Angeles, Cal. SANTA FE, PRESCOTT AND PHCENIX RY.-Ash Fork to Phcenix, Ariz, 194.6 m.; Prescott and Eastern RR. (leased), 26.4 m. Bradshaw Mountain RR. (leased), 7.79 m.— total operated, 228.79 miles. Sidings, etc. (leased, 4.60 m.), 24.77 m.; total track (steel, 56, 57 and 65 Ibs.), 253.56 miles. Gauge, 4 ft. 8% in. POOR'S MANUAL — TIIK ATCHISON, TOPKKA A\I> SANTA VK SYSTEM. 471 History.— Chartered May 27, 1891; road opened throughout on March 13, 189."). (See MANUAL for 1898, page 272.) This company is exempt from taxation for twenty years from 1891. The Prescott and Eastern RR. and the Bradshaw Mountain RR. (see appended statements) are operated under lease by this company. The Atchison, Topeka and Santa Fe Ry. Co. has purchased practically all the capital stock and $2,963,000 of the second mortgage bonds of this company. Rolling Stock, June 30, 1902. — Locomotives, 10. Cars — passenger, 6; baggage, etc., 6; freight (box, 24; flat, 29; coal, 16), 69; way, 5; other, 14— total cars, 100. Operations, year ending June 30, 1902. — Trains run (passenger, 144,302; freight, 151,857; mixed, 28,376), 324,535 miles. Passengers carried, 71,476; carried one mile, 5,6nO,235. Tons freight moved, 229,418; ton-miles, 16,370,671. Earnings (passenger, $241.897; freight, $679,862; other, $128,276) , $L050,035. Operating expenses, $437,817. Xet earnings. $612,218; other receipts, $5,732 — total $617,950. Payments: Interest on bonds, $395,200; rental (P. & E. RR.), $17,912; internal revenue tax, $323— total, $413,436. Surplus, $204,514; surplus forward, $214,695 — total, $419,209. Less amount expended during fiscal year on Hell Canyon Cut-off, $139,886; discount and interest on bonds, $1,470 — total, $141,356. Surplus, June 30, 1902, $277,853. General Balance Sheet, June 30, 1902. — Capital stock paid in ($40,000 p. m. auth.; $100 shares), $7,903,000; funded debt (1st 5s of Sept. 1, 1942, $4,940,000; 2d 5s of July 1, 1943, $2.964,000), $7,904,000; bonds of P. & E. RR. Co. guaranteed under lease (contra), $359,000; P. & E. RR. contingent liability under agreement (contra), $16,000; accrued rental, P. & E. RR., $4,487; interest accrued, $82,333; interest due for coupons unpresented, $74,753; bills payable, $30,000; current liabilities, $161,151; reserve renewal fund, $24,315; surplus, $277,853— total, $16,836,893. Contra: Cost of road, $15,622,990; equipment $205,665; investments (P. & E. RR. bonds, $56,000; Bradshaw Mountain RR., $286,103), $342,103; materials, etc., $140,757; leasehold in- terest and stock, P. & E. RR. Co. (contra), $359,000; unexpired insurance premium, $6,084; P. & E. RR. 1st mtge. bonds in trust (contra), $16,000; P. & E. RR. construc- tion, $56; cash and current assets, $144,238 — total, $16,836,893. By contract The Atchison, Topeka and Santa Fe Ry. Co. covenants to pay to the trustee of the 1st mtge. -bonds an arbitrary 5 p. c. of the gross revenue of its system derived from interchange of business with this company, to be applied to the payment of interest on those bonds. The company guarantees, both as to principal and interest, the bonds of the Prescott and Eastern RR. Co. RAILROADS LEASED BY THE S. F., P. & P. RY. Co. to $386,100. The Atchison, Topeka and Santa Fe Ry. Co. owns all the capital stock. F. M. Murphy, Pres., Prescott, Ariz. ; E. D. Kenna, Vice-Pres., Chicago, 111. ; Wallace Fair- bank, Sec. & Treas., Prescott, Ariz. Office, Pres- cott, Ariz. Prescott and Eastern RR. — P. & E. June, to Mayer, Ariz., 26.4 m. ; total track ( steel ; 56 Ibs.), 29.95 miles. Locomotives, 2. Chartered Sept. 14, 1897 ; road opened Oct. 15, 1898. Operated under lease by the S. F., P. & P. Ry. Co. Capital stock ($100 shares), $792,000. Funded debt (1st 5s of April 1, 1948), $3/5,000. This stock is owned and the bonds are guaranteed by the S. F., P. & P. Ry. Co. F. M. Murphy, Pres. ; Wallace Fairbank, Sec. & Treas., Prescott, Ariz. Office, Prescott, Ariz. Bradahaw mountain RR. — Poland June, to Poland Mine, Ariz., 7.79 m. ; total track (steel ; 56 Ibs.), 8.84 miles. Chartered Feb. 6, 1901, to build a line from Mayer to Crowned King Mine, Ariz., 27 miles, and a branch from Huron Station to the head of Big Bug Creek, 8 miles. The line as above was put in operation on May 11, 1902 ; construc- tion is in progress on the line from Mayer to Crowned King Mine and it was about three- quarters finished on Jan. 1, 1903. The road Is operated under lease by the Santa Fe, Prescott & Phoenix Ry. Co. Balance Sheet, June 30, 1902. — Capital stock ($1,050,000 auth.; $100 shares), ?200,000 ; unfunded debt, $119,442 — total, $319,442. Contra : Cost of road, $317,745 ; cash, $1,697 — total, $319,442. On Jan. 1, 1903, the paid up capital stock amounted Directors (S. F., P. & P. Ry.J. — F. M. Murphy, E. B. Gage, Wallace Fairbank, Pres- cott, Ariz.; E. P. Ripley, Chicago, 111.; Victor Morawetz, R. Somers Hayes, Charles Steele, Edward J. Berwind, New York, N. Y. ; Benjamin P. Cheney, Boston, Mass. OFFICERS: F. M. MURPHY, Pres. <6 Gen. Mgr., Prescott, Ariz. ; E. D. Kenna, Vice-Pres., Chicago, 111. ; Wallace Fairbank, Sec. & Treas.; Paul P. Hastings, And., Prescott, Ariz. GENERAL OF- FICE, Prescott, Ariz. COLORADO AND SOUTHERN RAILWAY COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 7 Car Trust Notes 10 Directors and Officers 11 Dividend Rights 7 Earnings, etc., 1900-1902.... 6 Earnings, Expenses, etc., 1902. 4 Equipment 3 Funded Debt Details 9 Gen. Bal. Sheet, 1900-1902. . . 6 Gen. Bal. Sheet, June 30, 1902. 5 History 2 Income Acct, 1900-1902 6 Income Acct., June 30, 1902.. 4 Interest in F. W. & D. C. Ry. 2 Mileage Oper'd, June 30, 1902. 1 Mortgage Restriction 7 Operations and Inc., 1900-1902. 6 Preferred Stock Preference.. 7 Rolling Stock 3 Trust Equipment 3 Voting Trust 8 472 POORS MANUAL OF RAILRO\DS — SOUTHWESTERN GROUP. 1. Main Line of Boad.— Denver, Col., to Texline, N. M 356.60 miles. Other Divisions, Branches, and Extensions, including Trackage rights . . 764.34 " Total length of lines operated, June 30, 1902 1,120.94 miles. Sidings, etc., 216.86 miles. Gauges, 4 ft. 8% in. and 3 ft. Rail (steel, 970.09 m.), 45 to 85 Ibs. la. Statement of mileage as operated by divisions, June 30, 1902: WYOMING DISTRICT. Miles. : NEW MEXICO DISTRICT (166.30 m.). Miles. Trinidad, Col., to Texline, N. M 134.67 Trinidad, Col., to end of track 23.12 Beshoar, Col., to Grey Creek Mines, N. M.. 7.86 Sopris to Sopris Mines, Col 0.66 PI.ATTE CANYON DISTRICT (102.19 m.). Denver to Como, Col 88.12 Sheridan Junction to Morrison, Col 9.96 South Platte to Night Hawk, Col 4.11 LEADVILLE DISTRICT (74.20 m.). Como to Leadville, Col 63.76 Dickey to Keystone, Col 6.85 Kokomo to Wilfley's Mill, Col 1.14 Leadville Mineral Belt 2.45 GUNNISON DISTRICT (164.51 m.). Como to Baldwin, Col 131.06 Garos to Alma, Col 16.41 Hill Top to Leavick, Col 11.32 Schwanders to Buena Vista, Col 3.98 Cattleton to Alpine Coal Co.'s Mine 2.49 King Coal Branch .'.. 0.26 Total Mileage Owned 1,061.92 Operated jointly with D. & R. G. RR. Co. : Gulf Junction to Walsenburg, Col 56.04 Walsenburg to Robinson's Mine, Col 2.61 Operated jointly with U. P. RR. : TJ. P. June, to Boulder June., Col 0.37 Cheyenne to Orin June., Wyo 153.68 FORT COLLINS DISTRICT (145.10 m.). Denver via Boulder and Ft. Collins to Greeley, Col 98.46 Fort Collins to Stout, Col 15.16 Louisville to Lafayette, Col 3.78 Loveland to Arkins, Col 8.24 Louisville June, to Boulder June., Col 11.47 Denver West Side Line 4.85 Jersey Cut-off 2.51 Boulder to C. & N. W. Connection 0.64 CLEAR CREEK DISTRICT (65.49 m.). Argo Junction to Silver Plume, Col 52.02 Forks Creek to Central City, Col 11.81 Golden, Col., to Church's Brick Yard 1.66 PUEBLO DISTRICT (134.05 m.). Denver to Manitou Junction, Col 81.51 Manitou Junction to Gulf Junction, Col 42.86 Manitou Junction to Colorado Springs 9.12 Pueblo Freight House Track 0.56 TRINIDAD DISTRICT (56.40 m.). Gulf Junction to Bessemer Junction, Col.. 3.63 Walsenburg June, to Trinidad, Col..: 41.52 Acme to Aguilar, Col 2.15 Ludlow to Hastings, Col 2.97 Litdlow to Berwind, Col 3.21 Chicosa Junction to Forbes Junction, Col.. 1.16 Broadhead Junction to Mine No. 4 1.76 Total Mileage Operated 1,120.94 %• History. — Chartered Dec. 20, 1898, as successor to the Union Pacific, Denver and Gulf and the Denver, Leadville and Gunnison Ry. Cos., whose properties were sold under foreclosure on Nov. 19, 1898. (See MANUAL for 1898, pages 210 and 854.) The company took possession of the property at midnight on Jan. 11, 1899. The Julesburg branch of the Union Pacific, Denver and Gulf Ry., from Julesburg to La Salle, Col., 151.53 miles, has been sold to the Union Pacific RR. Co., and trackage rights have been secured over the Union Pacific RR. from Denver to Cheyenne. The company owns $6,377,535, being a majority of the capital stock of the Fort Worth and Denver City Ry. Co., a corporation of the State of Texas, whose road extends from Texline to Fort Worth, Tex., a distance of about 454 miles. (See GENERAL INDEX.) 3. Rolling1 Stock, June 30, 1902. — Locomotives (standard gauge, 123; narrow gauge, 50)", 173. Cars — Standard Gauge: Passenger, 31; chair, 3; caf6, 2; combina- tion, 7; baggage, etc., 13; freight (box, 1,518; coal, 1,591; stock, 395; flat, 81; re- frigerator, 67; furniture, 25; charcoal, 18; tank, 3), 3,698; caboose, 40; service, 27 — total cars, 3,821. Narrow Gauge: Passenger, 51; combination, 11; baggage, etc., 9: freight (box, 471; coal, 761; stock, 61; flat, 62; refrigerator, 29), 1,384; caboose, 14; service, 21 — total cars, 1,490. Of this equipment, 620 standard-gauge coal cars, 300 standard-gauge box cars, 100 standard-gauge stock cars, 50 narrow-gauge stock cars, 10 standard-gauge passenger cars and 3 narrow-gauge passenger cars are covered by car trust. 4. General Income Account, year ending June 30, 1902. Expenses —Maint. Way and Struc $951,553 78 Maintenance of Equipment. 736,590 54 Conducting Transportation.. 2,186,966 44 General Expenses 169,133 76 Earnings —Passenger $1,011,974 68 Freight 4,339,937 79 Mail and Express 169,921 16 Miscellaneous 58,49300 Total ($4,925.92 per mile) $6,580,326.63 Total ($3,669.97 per mile) $4,044,24452 Net earnings (27.53 p. c.), $1,536,082.11; add income from investments, $39,917.33; interest, discount and exchange, $17,328.20; insurance commissions, $2,213.97 — total POOR S MANUAL COLORADO AND SOUTHERN RY. CO. 473 income, $1,595,541.61. Payments: Interest on bonds, $730,516.67; taxes, $216,180.26; war revenue tax, $3,056.28 ; fiscal year's proportion of discount on bonds, $2,674.02 ; fiscal year's proportion of interest on car trust notes, $16,355.83— total, $J)68;783.06. Sur- plus: $626,758.55; surplus forward, $435,446.19— total, $1,032,204.74. Less dividends Nos. 3 and 4 on the 1st preferred capital stock (\y2 p. c. each), $255,000. Surplus carried to credit of profit and loss, $807,204.74. 5. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $63,486,937 93 Improvements 828,943 79 New Equipment 1,749,281 79 Discount on Bonds 102,01813 Materials and Supplies 390,28823 Cash 903,211 19 * General Assets 1,595,095 16 Current Accounts -. 420,30535 Common Stock ( $100 shares) $31,000,000 00 First Preferred Stock ($100 shares)... 8,500,000 00 Second Preferred Stock ($100 shares). 8,500,000 00 Funded Debt Outstanding 18,474,000 00 Car Trust Notes. Current Liabilities Accrued Taxes Accrued Interest, not yet Due. Rails Released not Relaid Profit and Loss 567,367 60 999,616 96 278,340 11 307,900 00 41,652 16 807,204 74 Total Assets $69,476,081 57 1 Total Liabilities $69,476,081 57 •Consisting of Colorado and Southern Ry. Co. 1st mtge. bonds, $350,784.92; C. & S. Ry. Co. 1st preferred stock trust certificates, $1,057.50 ; C. & S. Ry. Co. 2d preferred stock trust certificates, $29,025; C. & S. Ry. Co. common stock trust certificates, $5.54; Denver Union Depot and Ry. Co. capital stock, $80,000 ; Pueblo Union Depot and RR. Co. capital stock, $8,120 ; Pueblo Union Depot and RR. Co. sinking fund, $9,600 ; cash in hands of trustee, received in payment of property and securities pledged under the mortgage, $301.25; other securities, $1,116,200.95 — total, $1,595,- 095.16. 6. Statement of operations, income and balances for three years ending June 30: 1900 1901 1902 1900 1901 1902 Miles of Road Oper Revenue Train Mileage : 1,141.55 861,496 1,586,121 111,610 1,141.55 808,857 1,599,894 119,003 1,120.94 869,633 j- 1,916,386 S 1,104,891 38,423 $ 1,286,779 49,316 S 1,536,082 59,459 Mixed 1,143,314 696,196 197,923 3,850 1,336,095 715,120 204,431 3,756 768 6,373 170,000 1,595,541 730,517 216,180 3,056 2,674 16,356 255,000 Total Interest on Bonds 2,559,227 605,065 27,102,650 2,564,547 258,943,438 $ 811,835 3,216,918 165,479 43,511 2,587,754 687,887 31,351,208 2,927,364 308,179,266 $ 859,441 3,720,623 160,299 54,286 2,786,019 832,385 38,228,823 3,669,861 360,007,908 $ 1,011,975 4,339,937 169,921 58,493 Passengers Carried Passenger Mileage War Revenue Tax Fiscal Year's Prop'n of Freight (tons) Moved. . Freight (ton) Miles Earnings— Passenger . . Freight .... Mail & Exp. Other Total Proportion of Interest on Car Trust Notes 170,000 Total Deductions. . . . Balance, Surplus 1,067,969 75,344 48,000,000 17,603,000 1,399,072 199,798 1,100,448 235,647 48,000,000 17,903,000 1,337,667 435,446 1,223,783 371,758 48,000,000 18,474,000 2,194,877 807,205 4,237,743 3,132,852 4,794,649 3,507,870 5,580,326 4,044,244 1,536,082 4,925 92 3,569 97 1.&55 95 72.47 p.c. 2.647 c. 1.204 c. Funded Debt Operating Expenses . . . 1,104,891 3,712 27 2,744 39 967 88 73.93 p.c. 2.995 c. 1.242 c. 1,286,779 4,200 12 3,072 90 1,127 22 73. 16 p.c. 2.741 c. 1.207 c. Total Liabilities Cost of Ptoad & Equip . . Materials & Supplies. . . . Gross Earnings per Mile Gross Expenses per Mile Net Earnings per Mile. .. Expenses to Earnings. . . Av. Rate p. Pass. p. Mile. Av. Rate p. Ton p. Mile.. 67,201,870 64,294,479 338,576 806,707 1,762,108 67,676,113 64,894,837 298,621 1,413,501 1,069,154 69,476,082 66,065,163 390,288 1,595,095 1,425,536 Other Assets Total Assets 67,201,870 67,676,113 69,476,082 7. Capital Stock. — The general balance sheet shows the authorized capital stock and ( in "General Assets") the amount of each class owned by the company. The preferred stock, in order of priority, is entitled to dividends at the rate of 4 p. c. per annum, non-cumulative, before any dividends can be paid on the common stock. The company reserves the right to redeem its preferred stock at any time at par in cash, if allowed by law. It Is provided that no additional mortgage shall be put upon the property embraced in the first mortgage of 1899, nor the amount of the 1st preferred stock be increased, except with the consent In each instance of the holders of a majority of the whole amount of 1st preferred stock, given at a meeting of the stockholders called for that purpose. During the existence of the voting trust, the voting trustees shall not vote on the 1st pre- ferred stock for the purposes indicated without the consent of holders of the like amount of that class of beneficial certificates. 8. Voting; Trust. — All of the capital stock, except 50 shares of the common stock, Is held by Grenville M. Dodge, Frederic P. Olcott, Harry Walters, Henry Budge and J. Kennedy Tod as voting trustees under an agreement dated Dec. 31, 1898, and to endure until Jan. 1, 1904, or for such 474 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. further period as may elapse before the 1st preferred stock shall have received a 4 p. c. cash divi- dend for three consecutive years, although the voting trustees may, in their discretion, deliver the stock at any earlier date. Until delivery of stock is made the voting trustees will issue certificates of beneficial interest entitling the holders to their shares at the termination of the voting trust and to any dividends that may be declared in the meantime. 9. Fnnded Debt. — The funded debt consists of 1st gold 4s of Feb. 1, 1929. The authorized issue is $20,000,000, the unissued bonds being reserved for additions, improvements and better- ments, and for new construction or acquisitions, including the acquisition of coal properties. These bonds, except such of them as shall be used for the acquisition of coal properties, are to be is- sued at a rate not exceeding $300,000 per annum. The mortgage covers the entire property of the company, Including future acquisitions, but subject, as to these, to any liens thereon at the time of acquisition, and to purchase money liens created in such acquisition. It is provided in the mort- gage that the Cheyenne and Northern line (from Cheyenne to Orin Junction, Wyo., 153.68 miles) may be sold and the proceeds applied toward the reduction of the first mortgage indebtedness. Addi- tional particulars respecting the funded debt will be found in the Ready Reference Bond List — see General Index. 10. Car Trust Notes. — These consisted on June 30, 1902, of five issues, as follows: — $115,- 506.65, balance of $198,011.40 issued May 25, 1900, payable $3.300.19 monthly t« May 25, 1905 ; $32,533.73, balance of $52,757.40 issued July 21, 1900, payable $879.29 monthly to July 21, 1905 ; $57,737.34, balance of $64,152.60 issued Dec. 30, 1901, payable $1,069.21 monthly to Dec. 30, 1906 ; $191,667.38, balance of $198,276.60 issued April 21, 1902, payable $3,304.61 monthly to April 21, 1907, and $169,922.50, balance of $203,907 issued Sept. 2, 1901, payable $3,398.45 monthly to Sept. 2, 1906. 11. Directors (elected Nov. 20, 1902).— G. M. Dodge, Henry Budge, J. Kennedy Tod, E. C. Henderson, Frederic P. Olcott, E. J. Berwind, Adolph Lewisohn, Harry Bronner, John J. Emery, Norman B. Ream, Edwin Hawley, New York, N. Y. ; Harry Walters, Baltimore, Md. ; Frank Trumbull, Denver, Col. G. M. DODGE, Chairman Board of Directors New York, N. Y. FRANK TRUMBULL, President Denver, Col. J. M. Herbert, Vice-President and Gen. Manager " " Sec. & Treas. — Harry Bronner. .New York, N. Y. | General Auditor — A. D. Parker Denver, Col. PRINCIPAL OFFICE AND ADDRESS Cooper Building, Denver, Col. Eastern Office v 74 Broadway, New York, N. Y. COLORADO MIDLAND RAILWAY COMPANY (THE). 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 259.54 miles). Main Line: Colorado Springs to New Castle, Col 222.24 miles. Leadville Branch : Arkansas Junction to Leadville, Col 3.84 Aspen Branch : Aspen Junction to Aspen, Col 18.45 Jerome Park Branch: Cardiff to Spring Gulch, Col 15.01 " B. LEASED JOINTLY. Rio Grande June. Ry.: Rifle Creek to end of R. G. June. Ry 62.08 " O. TRACKAGE RIGHTS (total, 14.46 miles). D. d R. G. RR.: New Castle to Rifle Creek, Col 13.44 " D. & R. G. RR. : End R. G. J. Ry. to Grand June., Col 0.57 " A., T. & 8. F. Ry.: Union Depot to Col. Mid. Ry. Tracks, Colorado Springs. . 0.45 " Total length of all lines operated, June 30, 1902 336.08 miles. Sidings, etc. (owned), 67.97 miles. Gauge, 4 ft. Sl/2 in. Rail (steel), 60, 65, and 75 Ibs. 2. History. — Chartered Oct. 11, 1897, as successor to the Colorado Midland RR. Co., whose property was sold under foreclosure on Sept. 8, 1897. See MANUAL for 1897, pages 190 and 1292. The property of the Busk Tunnel Co. (see MANUAL for 1899, page 537) was acquired as of July 1, 1899, and the Hagerman Pass line was abandoned at the same time. In May, 1900, a majority of the stock of this company was purchased in the joint in- terest of the Colorado and Southern and the Rio Grande Western Ry. Cos. 3. Rolling Stock, June 30, 1902. — Locomotives, 60. Cars — passenger, 37; baggage, mail and express, 14; freight (box, 742; flat, 106; stock, 124; coal, 723; refrigerator, 20; caboose, 26), 1,741; service cars, 10 — total cars, 1,802. POOR'S MANUAL — COLORADO MIDLAND RY. CO. (THE). 475 4. General Income Account, year ending June 30, 1902. Expenses — Maint, of Way and Struc.. $342,778 29 Maintenance of Equipment. 307,213 67 Conducting Transportation. 943,807 87 General Expenses 75,619 80 Earnings — Passenger $283,503 15 Freight 1,715,988 07 Mall and Express 152,57578 Miscellaneous 10,21851 Total ($6,433.84 per mile) $2,162,28551 Total ($4,967.33 per mile) $1,669,41963 Net earnings (22.79 p. c.), $492,865.88; add interest and dividends, $41,615.06— total, $534,480.94. Payments: Interest on bonds, $361,940; rental of tracks and terminals, $52,318.57; taxes, $100,199.12— total, $514,457.69. Surplus, $20,023.25; surplus forward, $296,325.12 — total ($316,348.37, less deductions during the year, $4,125.67), $312,222.70. 5. Statement of operations, income, etc., for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles RR. Operated (aver.) 335.97 335.97 342.50 342.50 336.08 336.08 336.08 Passenger Train Miles 426,639 521,362 553,640 467,438 506,550 600,225 570,281 Freight Train Miles 646,111 502662 587,804 499,809 548,338 640,132 553,263 Passengers Carried 186,756 164,691 165,387 154,100 222,536 221,004 250,418 Passenger Mileage 8,818,810 7,644,245 9,778,083 8,151,782 11,746,861 11,935,271 13,922,038 Freight (tons) Moved 707,234 631,618 734,854 749,928 925,432 1,058,569 1,040,496 Freight (ton) Miles 86,287,003 78,003-,654 92,236,396 80,235,765 90,356,972 115,347,854 115,476,827 Earnings — Passenger $ 270,635 $ 251,261 1 255,932 $ 226,009 $ 338,235 1 334,833 $ 283,503 Freight 1,570,499 1,361,970 1,402,743 1,308,152 1,715,623 1,889,500 1,715,988 Other. . . 65 146 58312 72768 125 637 143,179 160,850 162,795 Total Earnings 1906280 1 671 543 1 731 443 1 659 798 2,197,037 2,385,183 2,162,286 Operating Expenses 1 348 213 1 336 169 1 385685 1364450 1,571,045 1,701,968 1,669,420 Net Earnings 558067 335374 345 758 295348 625992 683,215 492,866 Other Receipts 953 5,897 10,594 15,448 34,269 41,615 Net Income '. 559,020 335374 351 655 305,942 641,440 717,484 534,481 Payments — Int. on Bonds 36 193 31 403 174680 172940 343,920 353,460 361,940 Taxes 103 139 102900 100000 92480 96,132 105,513 100,199 Rentals, etc .... 191 006 184 916 64882 38316 124 949 56736 52,319 Total Payments 330338 310 219 339 563 303736 565001 515 709 514458 Balance (+ or — ) +228*682 +16 155 +12093 +2205 +76 439 +201 775 +20,023 Gross Earnings per Mile 5 673 96 4975 27 5055 31 4846 13 6 537 24 7,097 07 6,433 84 Gross Expenses per Mile 4012 90 3977 05 4 045 81 3 983 80 4 674 62 5,064 18 4,967 33 Net Earnings per Mile 1 661 06 998 22 1 009 50 862 33 1 862 62 2032 89 1 466 51 Expenses to Earnings Aver. Rate p. Pass. p. Mile. . . 70.73 p.c. 307c 79.94 p.c. 328c 80.93 p.c. 262c 82.21 p.c. 277c 71.51 p.c. 288c 71.36 p.c. 281c 77.28 p.c. 204c. Aver. Rate p. Ton p. Mile 1.82 c. 1.74 c. 1.52 c. 1.63 c. 1.89 c. 1.64 c. 1.49c. 6. General Balance Sheet, June 30, 1902. Cost of Road $16,170,33181 Cost of Equipment 1,428,34796 Materials and Supplies 108,89259 First Mtge. Bonds in Treasury 205,00000 Bills Receivable 90,29207 Current Accounts 44,650 06 Cash on Hand 381,914 93 Common Stock ($100 shares) $3,421,30000 Preferred Stock ( $100 shares) 4,954,800 00 Funded Debt Outstanding(see below). Current Liabilities Interest Accrued on Bonds. Profit and Loss 9,151,000 00 366,001 72 224,105 00 312,222 70 Total Assets $18,429,42942 Total Liabilities $18,429,42942 7. Capital Stock. — The capital stock authorized is $10,000,000, consisting of $4,000,000 common stock and $6,000,000 non-cumulative 4 p. c. preferred stock. 8. Funded Debt consists of ($10,000,000 authorized) 1st gold 4s of July 1, 1947. On Jun<- 22, 1900, the directors decided that interest on all bonds issued and to be issued under the first mortgage shall be paid hereafter in cash at the uniform rate of 4 p. c. per annum, and at the same time the right to make the last $500,000 of bonds prior in lien to the remainder of the issue was waived. (See MANUAL for 1900, page 472.) The bonds are secured on the entire property of the company. 9. Directors (elected Nov. 20, 1902). — Frank Trumbull, Edward T. Jeffery, George W. Kramer, Denver, Col.: Henry Budge, J. Kennedy Tod, Grenville M. Dodge, E. C. Hen- derson, George J. Gould, Edwin Gould, Winslow S. Pierce, New York, N. Y. FRANK TRUMBULL, President Denver, Col. George W. Kramer, Vice-President " Treas. — H. B. Henson, 195 B'way..New York, N.Y. I Gen. Manaiier — Chas. H. Schlacks.. .Denver, Col. Sec. — Harry Bronner, 74 B'way... | Auditor — W. S. Wing " PRINCIPAL OFFICE AND ADDRESS Denver, Col. 476 POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. DENVER AND RIO GRANDE RAILROAD COMPANY. (For map of this system, see page 411.) INDEX xo THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Balance Sheet, 1901 and 1902. 15 Capital Account 10 Capital Stock 9 Directors and Officers 16 Earnings, Expenses, etc 6 Earnings, etc., 1895-1902 6 Financial Changes 13 Funded Debt 12 Gen. Balance Sheet 8 History 4 Income Account 5 Lines of Road 2 Mileage of System 1 and 2 Operations, etc., 1&01 and 1902. 15 Profit and Loss Account 7 Proprietary Roads 14 Rio Grande RR 4 Rio Grande Western Ry.... 14 Rolling Stock 3 Securities Owned 11 1. Mileage of the System, June 30, 1902 (details in Section 2). Denver^ and Rio Grande RIt.: Lines owned absolutely 1,585.58 miles. f Rio Grande and Santa Fe Ry 34.00 " Rio Grande Gunnison Ry 9.59 " Proprietary Roads: j Rio Grande> Pagosa and Northern RR 30.85 « [ Rio Grande Sangre de Cristo RR 16.96 " Owned Jointly: Rio Grande Junction Ry 62.08 Rio Grande Western Ry. •' Lines owned absolutely 458.11 { Carbon County Ry 23.42 Sevier Ry 70.88 Proprietary Roads: I Tintic Range Ry 48.39 I Utah Eastern Ry 14.90 [ Utah Central RR. 35.67 Total mileage of the system, June 30, 1902 2.390.43 miles. Deduct, mileage not operated: Rio Grande, Pagosa and Northern RR 30.85 m. R. G. W. Ry., Narrow-gauge trams in Utah 9.31 m. — 40.16 " Length of lines operated by D. & R. G. RR. Co 2,350.27 miles. Average mileage operated for the year 2,347.00 " 2d track, 35.51 m. ; sidings, etc., 527.77 miles. Gauges, 3 ft. (919.74 m.) and 4 ft. 8% in. (1,470.59 m.). Trains to and from narrow-gauge lines are run from and to Denver by means of a third rail. Rail (steel, 2,783.63 miles), 30 to 85 Ibs. 2. Lines of Road. — Statement showing the details of main track mileage of the system, by divisions, June 30, 1902: FOURTH DIVISION (507.57 m.). Miles. Main j La Veta to Alamosa, Col 61.37 Line: \ Alamosa to Durango, Col 199.81 Branches and Spurs : Creede, 69.93 m. ; Es- paflola,91.82 m. ; Santa Fe, 33.97 m; ; Cha- nia Lumber Spur, 3.16 m. ; Silverton, 45.61 m. ; Durango and Silverton Smelt- Maln Line : Denver and. Rio Grande RR. FIRST DIVISION. (402.47 m.). Miles. (Denver to Salida, Col 215.04 Pueblo to Cuchara, Col 49.57 41.94 21.68 Cuchara to Trinidad, Col Cuchara to La Veta, Col Branches and Snurs : Fort Logan, 2.51 m. ; Castle Rock Quarry, 4.26 m. ; Douglas Quarry, 2.42 m. ; Manitou, 5.14 m. ; Coal Creek, 3.19 m. ; Oak Creek, 2.63 m. ; Chandler Creek, 4.61 m. ; Fremont, 1.89 m. ; Westcliffe, 25.57 m. ; Rouse, 5.41 m. ; Santa Clara, 5.36 m. ; Engleville, 6.4 m. ; Loma, 4.85 m 74.24 SECOND DIVISION (337.23 m.). Main J Salida to Leadville, Col 60.78 Line: (Malta to Rifle, Col 115.97 Branches and Spurs : Calumet, 7.18 m. ; Iron Silver Mine, 2.33 m. ; Ibex, 7m.; Dillon, 36.28 m. ; Leadville Cut-off, 3.26 m. ; Aspen, 42.40 m 98.40 Rio Grande June. Ry. : Rifle to Grand June., Col 62.08 THIRD DIVISION (442.74 m.). Main ) Salida to Grand Junction, Col... 209.45 Line:] Mears June, to Alamosa, Col 73.44 Branches and Spurs : Monarch, 15.66 m. ; Orient, 8.20 m. ; Crestone, 16.96 m. ; Crested Butte, 32.31 m. ; Ruby Anthra- cite, 10.71 m. ; Aberdeen, 4.47 m. : Lake City, 35.84 m. ; Ouray, 35.70 m 159.85 Total mileage of system 2,390.43 •Includes 18.2 miles, from Grand Junction to Crevasse, owned by D. & R. G. RR. Co., but lease* to R. G. W. Ry. Co. prior to consolidation, t Not operated. ers, 1.9 m 246.39 Total D. & R. G. RR 1,690.01 Rio Grande Western Ry. Miles. Main Line : Grand Jc., Col., to Ogden.Utah. *328.40 Branches and Spurs : Sundry short spurs, 15.02 m. ; Sunnyside, 17.96 m. ; Pleasant Valley, 25.13 m. ; Thistle June, to Marys- vale, Utah, 132.51 m. ; Tintic Range Ry., 48.39 m. ; Heber, 26 m. ; Wasatch, 10.19 m. ; Bingham ( including short spurs, 4.33 m.), 18.59 m. ; Roper to Mill Creek, 3.25 m. ; Utah Central RR., 34.82 m 331.86 Narrow-gauge Trams in Utah (not oper'd). 9.31 Total R. G. W. Ry *669.57 tBio Grande, Pagosa and Northern RR. : Pagosa June, to Pagosa, Col. 30.85 477 478 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 3. Rolling Stock, June 30, 1902.— Locomotives (3 ft. gauge, 138; 4 ft. 8y2 in. gauge, 313), 451: PASSENGER TRAIN CARS. R.G.W D. & R. G. Totals. FREIGHT TRAIN CARS. R.G.W D. & R. G. Totals. St'ard Gauge. Nar. Gauge. St'ard Gauge. St'ard Gauge. Nar. Gauge. St'ard Gauge. Coaches 34 51 5 11 8 14 24 3 11 4 68 |19 21 3 5 153 5 11 ( „ 78 3 18 6 11 3 Box 815 124 334 493 1,734 575 223 1,972 2 60 35 53 4 16 26 3,749 322 938 1,634 ' 38 85 177 15 ' 14 5 76 6,298 1,021 1,495 4,099 o 167 165 364 27 17 42 32 76 Chair Flat Emigrant Sleepers . . Stock Baggage Coal 33 69 45 134 8 1 2 27 Business 4 2 6 3 Construction Water Tank Stock Growers' Cars. . . Totals . Wrecking, etc Tool Fruit Totals 82 131 116 329 2,052 4,700 7,053 13,805 4. History. — Organized July 14, 1886, as successor to the Denver and Rio Grande Ry. Co. (see MANUAL for 1891, page 691). The Rio Grande Junction Ry. was built jointly by this company and the Colorado Midland Ry. Co. It is leased, and its bonds are guaranteed jointly by the two companies. In Nov., 1890, a through standard-gauge route was opened between Denver and Ogden over this road, the Rio Grande Junction Ry. and the Rio Grande Western Ry. Eio Grande Western Ey.—At a special meeting of the stockholders, held on May 15, 1901, authority was voted for the purchase of the Rio Grande Western Ry., and for the issuing of $20,750,000 of preferred stock for that purpose. The purchase was completed during the year ending June 30, 1902, and although there has not been a formal consoli- dation of the two corporations, they are treated as one in the report of the Denver and Rio Grande RR. Co., and the publication of a separate report in respect of the Rio Grande Western Ry. Co. has been discontinued. For this reason the separate statement for the Rio Grande Western Ry. Co. has been practically eliminated from the MANUAL (see Sec- tion 14), and this statement has been made to conform to the report of the Denver and Rio Grande RR. Co. Proprietary Railroads. — The proprietary railroads named in Section 1 are controlled absolutely by the Denver and Rio Grande RR. Co. or by the Rio Grande Western Ry. Co., but because their separate corporate existence is nominally maintained short statements for them will be found in Section 14. Rio Grande Sangre de Cristo RR. Co. — The Crestone Branch, from Moffat to Crestone and to Cottonwood, Col., 16.96 miles, was built under the charter of the Rio Grande. Sangre de Cristo RR. Co. It was completed Aug. 21, 1901, and has been operated by the Denver and Rio Grande Co. since that date. The San Luis Valley Land and Mining Co. furnished all the necessary labor and materials (except rails and fastenings, which were furnished by the Denver and Rio Grande RR. Co. ) , and will be reimbursed for its outlay by monthly payments based on the earnings from traffic over, and to and from, the branch. The cost of the rails and fastenings furnished by the Denver and Rio Grande RR. Co. has been charged to the Rio Grande Sangre de Cristo RR. Co., and the monthly reim- bursements to the San Luis Valley Land and Mining Co. are also being charged to the same company. Rio Grande RR. Co.— Under the charter of this company a line known as the North Fork Branch has been constructed from Delta to Paonia, Col., 43.09 miles. It was com- pleted late in 1902 and has been purchased and absorbed by the Denver and Rio Grande RR. Co. The purchase price was met by an issue of $850,000 1st consol. mtge. 4 per cent, bonds of Jan. 1, 1936. POORS MANUAL— DENVER AND RIO GRANDE SYSTEM. 479 Castle Valley Cut-off. — The construction of the Castle Valley Cut-off on the Rio Grande Western Ry. was commenced in the spring of 1902. At the close of the fiscal year ending June 30, 1902, the surveys and location had been completed and a contract let for 21 miles of grading. The cut-off will extend from Farnham on the main line to Salina on the Marysvale Branch, a distance of 113 miles, and when completed will afford a route 38 miles shorter than the present one to Southwestern Utah. Important coal fields in the vicinity of Salina Gallon and in contiguous districts can be opened up and the coal made available for commercial use. The construction of the cut-off will be prosecuted from time to time according to the requirements of the various classes of traffic which it is be- lieved can be developed in the territory to be traversed. EARNINGS. 1900-01 Passenger ......... 83,132,61242 Freight ............ 12,131,681 28 Mail and Express. . . I , rio^QiA R± 6 64 Miscellaneous. . (Icneral Income Account, year ending June 30, 1902. 1901-02 $3,694,885 38 12,150,028 12 1,191,914 98 , >. EXPENSES. Maim . of Way. etc.. . Maint. of Equip Transportation General . . . 1900-01 2,384,912 07 1,699.714 57 5,723,373 95 539,135 92 1901-02 $2,456,233 32 1,718,378 66 5,686,079 99 470,850 46 Totals $16,359,610 34 817,036,828 48 Totals 810,347,136 51 $10,331,542 43 Aver, per Mile . . . 7,021 29 7,259 98 Aver, per Mile . 4,440 83 4,402 02 Net earnings, 1901-02 (39.36 p. c.), $6,705,286.05; add other receipts, $165,761.93 — total, $6,871,047.98. Payments: Interest on funded debt, $2,898,092.50; taxes, $535,- 621.92; insurance, $44,394.91; rental of leased lines, $190,313.74; dividends on preferred stock (Jan. 15 and July 15, 1902, 2^ p. c. each), $2,220,000; renewal fund, $120,000 — total, $6,008,423.07. Surplus, $862,624.91; from which was appropriated toward pur- chase of new standard-gauge freight equipment, $500,000; leaving balance carried to credit of Profit and Loss, $362,624.91. 6. Statement of earnings, expenses and net earnings for eight fiscal years ending June 30, 1895 to 1902, the statistics of the Rio Grande Western Ry. being included for the entire period: YEARS. 1895. 1896. 1897. 1898. 1899. 1900. 1901. 1902. Gross Earnings. $ 9,106,532 10,008,545 9,413,619 11,705,214 12,623,235 14,756,683 16,359,610 17,036,828 Operating Expenses. 5,437,455 5,848,177 5,679,881 7,086,776 7,794,875 9,201,848 10,347,136 10,331,542 Net Road Per Mile Operated. Exp. Oper A to Earnings. Exp. Net Earn. Earn. $ Miles. $ $ $ p. c. 3,669,076 2,177 4,183 2,498 1,685 59.71 4,160,368 2,181 4,589 2,681 1,908 58.43 3,733,738 2,212 4,256 2,568 1,688 60.34 4,618,438 2,232 5,244 3,175 2,069 60.54 4,828,360 2,254 5,600 3,458 2,142 61.75 5,554,835 2,294 6,433 4,011 2,422 62.36 6,012,474 2,330 7,021 4,441 2,580 63.25 6,705,286 2,347 7,259 4,402 2,857 60.64 7. Profit and LOSS Account, June 30, 1902. — Balance, surplus, June 30, 1901, $3,122,401.57; income balance, June 30, 1902, $362,624.91; sundry credits during year. $13,780.38— total, $3,498,806.86. Deduct: Discount on 1st Consol. 4 p. c. bonds, $36,000; interest on interim certificates account acquisition R. G. W. Ry., $65,548.79; sundry ex- penditures, account acquisition R. G. W. Ry., $13,644.11; adjustments during the year to profit and loss, direct (net) $5,970.81 — total, $121,163.71. Balance to credit of profit and loss, June 30, 1902, $3,377,643.15. 8. General Balance Cost of Road ....$113,517,43718 Equipment 8,656,44380 Express Equipment 50,000 00 Real Estate 90,97762 Current Betterments 46,56100 Materials and Supplies 916,04294 Securities in the Treasury 3,626,966 63 Pueblo Union Depot Sinking Fund. 9,600 00 Investments (see Sec. 11) 22,115,16967 Securities Deposited with the Mor- ton Trust Co., Trustee 9,477,06352 Current Accounts and Balances 2,506,62773 Cash 2,786,401 84 Special Renewal Fund 403,92208 Total Assets $164,208,21401 Sheet, June 30, 1902. Common Stock $38,000,000 00 Pref. Stock 5 p. c. non-cumulative.. 44,400,000 00 Funded Debt Outstanding 45,619,500 00 Rio Grande Western Funded Debt. . 27,476,600 00 Bond Coupons, including July 1, 1902. 1,106,931 25 Accrued Interest 138,91333 Accrued Taxes 442,126 57 Accrued Rentals of Leased Lines... 37,57118 Dividends on Preferred Stock 1,110,880 00 Other Current Liabilities 1,853,36751 Equipment Renewal Fund 118,18164 Insurance and Other Reserve Funds. 207,577 30 Renewal Fund 313,92208 Profit and Loss 3,377,64315 Total Liabilities $164,203,214 01 POOR S MANUAL ol~ RAILROADS— SOUTHWESTERN GROUP. 9. Capital Stock. — The authorized capital stock Is $82,400,000, consisting of $38,000,000 ot common stock and $44,400,000 of preferred stock ; shares, $100 each. 1O. Coat of Road — Adjustments Therein June 30, 1901, to June 30, 1902. Balance, June 30, 1901, inc. R. G. W. Rv. Equipment. . . . D. . Board of Directors, Denver and Rio Grande RR. Co., as constituted June I, 1903. GEORGE J. GOULD, Chairman Board of Directors New York, N. Y. E.H.Harriman...New York,N.Y. I M. L. Schiff. ...New York, N. Y. Arthur Coppell. I Winslow S. Pierce " Geo. J. Gould.. I Edw. T. Jeffery. EDWARD T. JEFFERY, President New York, N. Y. Russell Harding, Vice-Pres. and General Manager St. Louis, Mo. Treasurer — Joseph W. Gilluly Denver, Col. | Sec. & Comp. — Stephen Little New York, N. Y. Auditor — Edward R. Murphy Denver, Col. GENERAL OFFICES Equitable Building, 17th and Stout Streets, Denver, Col. New York Office. . 195 Broadway | London Agta., J. K. Gilliat & Co., 4 Crosby sq. DENVER AND RIO GRANDE SYSTEM.— Controlled Railroad, Operated by Its Own Organization. BIO GRANDE SOUTHERN RR.— Ridgway to Durango, Col., 162.6 m.; Vance Junction to Pandora, Col., 9.8 m.; branches to mines, 8 m. — total, 180.4 m. ; total track (steel; 30 to 57 Ibs.), 206.22 miles. Gauge, 3 ft. History.— Chartered Oct. 30, 1889; road opened Feb. 1, 1892. Receiver appointed Aug. 2, 1893. Company reorganized, and the property returned to the stockholders on Dec. 1, 1895. (See MANUAL for 1897, page 416). Controlled by the Denver and Rio Grande RR. Co., through ownership of a majority ($2,255,600) of the capital stock, which has been placed in trust under agreement of Feb. 27, 1895. (See MANUAL for 1896, page 522.) Rolling Stock, June 30, 1902. — Locomotives, 22. Cars — passenger, 12; baggage, etc., 3; freight (box, 380; stock, 60; flat, 119; coal, 140; caboose, 6), 705; business, 2; snow-plow, 1 ; other, 17 — total, 740. Operations, year ending June 30, 1902. — Earnings (passenger, $104,447.96; freight, $430,645.61; mail, express, and other, $40,581.70), $575,675.27. Operating expenses, $313,134.71. Net earnings (45.61 p. c.), $262,540.56; interest received, $7,706.52— total, $270,247.08. Payments: Interest on bonds, $180,400; insurance, $1,905.05; taxes, $35,- «50— total, $217,955.05. Surplus, $52,292.03; surplus forward ($124,914.21 ; plus adjust- ments for year, $284.43), $125,198.64— total, $177,490.67. General Balance Sheet, June 30, 1902.— Capital stock ($5,000,000 auth. at $25,000 per mile; $100 shares), $4,510,000; funded debt (see below), $4,510,000'; current liabili- ties, $261,647.03; profit and loss, $177,490.67— total, $9,459,137.70. Contra: Cost of road and equipment, $9,020,000; materials and supplies, $22,736.41; securities in treasury, $116,459.03; cash and current assets, $299,942.26— total, $9,459,137.70. Funded Debt. — The authorized issue of 1st mtge. bonds is $5,000,000, being at the rate of $26,000 per mile, of which there were outstanding June 30, 1902, $4,510,000. The rate of interest 484 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. was 5 p. c. per annum, but by agreement with tbe bondholders the interest was reduced to 3 p. c. per annum to and including Jan. 1, 1898, and thereafter 4 p. c. per annum until maturity. Of the bonds outstanding on June 30, 1902, $2,277,000 bear the guaranty of the D. & R. O. RR. Co. ; 71,677,000 of such guaranteed bonds are held by the D. & R. G. RR. Co. and $600,000 are held by other parties. Directors (elected Oct. 21, 1902).— George J. Gould, Arthur Coppell, Howard Gould, E. T. Jeffery, New York, N. Y.; Clarence Buckingham, Chicago, 111.; Otto Mears, S. N. Wood, Denver Col. OFFICERS: E. T. JEFFEBT, Pres., 195 Broadway, New York, N. Y; J, \V. Gilluly, Treas.; J. B. Andrews, Sec.; E. R. Murphy, Auditor, Denver, Col. PRINCIPAL OFFICE, Denver, Col. DENVER AND SOUTHWESTERN RAILWAY COMPANY. 1. Mileage Operated, Nov, 30, 1902. F. A C. C. SB. : Florence, Col., to Cripple Creek, Col 40.96 miles, O. C. RR.: Victor to Vista Grande, Col 6.59 " C. C. d C. C. RR.: Canyon City to Ora Junta, Col 7.24 " If. T. Ry.: Divide, Col., to Cripple Creek, Col 29.40 " Total length of road owned and operated, Nov. 30, 1902 84,19 miles. Sidings, etc., 41.42 miles. Gauges, 3 ft. and 4 ft. Sy2 in. Rail (steel), 60 Ibs, 2. History. — Incorporated Nov. 18, 1899, to acquire the securities of the Midland Terminal Ry. (see MANUAL for 1899, page 606), the Florence and Cripple Creek RR., the Golden Circle RR. (see MANUAL for 1899, page 602), the La Bella Mill, Water and Power Co., the Colorado Trading and Transfer Co., and to own three-fourths interest in the stock of the Metallic Extraction Co. The Canyon City and Cripple Creek RR., from Canyon City to Ora Junta, was opened Feb. 1, 1900. 3. Rolling Stock, Nov. 30, 1902. — Locomotives, 26. Cars — passenger, 11; com- bination, 3; baggage, etc., 2; freight (box, 389; coal, 99; flat, 8), 496; caboose, 10; other cars, 20 — total, 542. Of this equipment, 1 locomotive and 200 box cars are leased. 4. General Income Account, year ending November 30, 1902. Expenses, Gross Incl. Taxes Net Earnings. and Rentals. Earnings. $ < $ F. & C. C. RR.. C. C. and C.C. RR. and Golden Circle RR. 521 ,765 58 416,590 99 105,174 59 Midland Terminal Ry. Co 273,096 26 319,963 33 De/.46,867 07 Metallic Extraction Co. (three-fourths) 7,641 87 7,641 87 La Bella Mill, Water and Power Co 105,248 40 81,950 29 23,298 11 Colorado Trading and Transfer Co 162,013 31 117,467 87 44,545 44 Denver and Southwestern Ry (Miscellaneous) 18,935 58 10,665 00 8,270 58 Totals 1,088,701 00 946,637 48 142,083 52 Net earnings, $142,063.52. Payments : Interest on bonds, $270,363 ; applied to sink- ing fund, $108,654.81; dividends on preferred stock (1% p. c.), $25,000; on common ; stock (P/2 p. c.), $45,000 — total, $449,017.81. Deficit, $306,954.29; surplus forward, $343,127.80; net surplus, $36,173.51. 5. General Balance Sheet, Nov. 30, 1902.— Capital stock ($3,000,000 common; $2,000,000 preferred; $100 shares), $5,000,000; funded debt (see below), $5,414,000; interest on funded debt accrued, $123,450.; sinking fund accrued, $39,302.23; funds in sinking fund unapplied, $353.94; Midland Terminal Ry. Co., $141,881.46; J. P. Cobb, Treas., $38,706.91; bills payable, $60,000; current liabilities, $7,916.67; profit and loss,. $36,173.51— total, $10,861,784.72. Contra: Cost of property, $10,572,582.09; general mortgage bonds, owned, $100,000; Colorado Trading and Transfer Co., $114,770.04; La Bella Mill, Water and Power Co., $57,113.36; Florence and Cripple Creek RR. Co., $8,506.96; Continental Trust Co., $353.94; accrued interest on bonds owned, $8,125; taxes, $333.33— total, $10,861,784.72. 6. Funded Debt. — The funded debt outstanding on Nov. 30, 1902, consisted of $4,923,000 ($5,500,000 auth.) gen. gold sinking fund 5s of Dec. 1, 1929, and $491,000 ($1,000,000 auth.) M. T. Ry. 1st gold sinking fund 6s of Dec. 1, 1925. The remainder of the Midland Terminal Ry. bonds ($509,000) have been cancelled out of earnings and sinking fund. The Midland Terminal Ry. bonds POOR S MANUAL OF RAILROADS. 485 are secured by a 1st mtge. on the line from Divide to Cripple Creek, 29.4 miles. The gen. mtge. bonds are secured on the entire line subject only to the lien of the Midland Terminal Ry. bonds. A sufficient amount of gen. mtge. bonds are deposited with the trustee to retire the outstanding Mid- land Terminal Ry. bonds. The bonds and stocks of the consolidated companies are deposited with the trustee, the Continental Trust Co., as security for the gen. mtge. bonds (see statement below). The deed securing gen. mtge. bonds provides for the payment to the trustee of $95,000 per annum, payable semi-annually. This money is to be invested by the trustee in Denver and Southwestern bonds at a price not above 110 and interest, such bonds to remain uncancelled in the sinking fund : or in case bonds are not at the price of 110 and interest, then in bonds of the United States or of the State of New York or Massachusetts. The interest accruing on the bonds thus purchased Is to be added to the semi-annual payment into the sinking fund and invested in turn in like manner. Since the formation of the company there has been purchased out of the proceeds of the sinking fund $284,000 Denver and Southwestern gen. mtge. bonds and $86,000 Midland Terminal Ry. 1st mtge. bonds. In addition thereto, the Board of Directors purchased, out of surplus earnings, $100.- 000 of its gen. mtge. bonds, which are held as an asset, as shown by the balance sheet. 7. Sinking Fund Account, Nov. 30, 1902. — Amount applied out of earnings for purchase of bonds, $365,137.88 ; accrued interest, $18,428.18 — total, $383,566.06. Deduct cost of $284,000 D. & S. W. Ry. Co.'s 5 p. c. bonds, $263,490.87 ; cost of $86,000 M. T. Ry. Co.'s 5 p. C. bonds, $80,- 137 90 — total, $343,628.77. Balance due to Trustee, $39,583.35 ; unapplied, per balance sheet, .$353.94 — total, $39,937.29. 8. Statement of stocks and bonds pledged to Continental Trust Co., of New York, as security for funded debt, Nov. 30, 1902: BONDS. Florence & Cripple Creek RR. Co. 1st 6s.$l,000,000 Golden Circle RR. Co. 1st 6s 176,000 Canon City & Cripple Ck. RR. Cto. 1st 6s. 175,000 La Bella Mill, Water & Power Co. 1st 6s. 260,000 United States Red. & Refg. Co. 1st 6s... 225,000 STOCKS. 10,000 Florence and Cripple Creek RR. Co.$l,000,000 1,760 Golden Circle RR. Co 175,000 1,750 Canon City and Cripple Ck.RR.Co. 175,000 10,000 Midland Terminal Ry. Co 1,000,000 2,500 La Bella Mill, Wat. & Pow. Co. . 250,000 2,000 Colorado Trading & Transfer Co. 200,000 Total Bonds $1,825,000 Total Stocks $2,800,000 Total Stocks and Bonds $4,625,000 9. Directors.— C. F. Ayer, M. Rollins, Boston, Mass.; A. Kessler, W. K. Gillett, J. P. Cobb, G. Dunscomb, John W. Herbert, New York, N. Y.; K. K. McLaren, Jersey City, N. J.; E. W. Rollins, Denver, Col.; A. Jarvis, Toronto, Ont.; W. F. Day, New Haven, Conn. W. K. GILLETT, President New York, N. Y. Vice-Pres. — M. Rollins Boston, Mass. | Sec. £ Treas.—J. P. Cobb New York, N. Y. PRINCIPAL OFFICE AND ADDRESS 54 Wall St., New York, N. Y. FORT WORTH AND DENVER CITY RAILWAY COMPANY. 1. Line of Road.— Fort Worth, Tex., to Texas State Line 453.57 miles. Sidings, etc., 49.24 miles. Gauge, 4 ft. Sy2 in. Rail (steel), 52, 56, 58, 60 and 65 Ibs. This road connects at the State Line with the Colorado and Southern Ry. and with that line forms the Texas Pan-Handle Route, between Denver, Col., and Fort Worth, Tex., 803 miles. 2. History. — Chartered May 26, 1873; road opened throughout March 26, 1888. The finances of the company were reorganized in 1896 under the plan outlined in the MANUAL for 1896, page 969. 3. Rolling Stock1, June 30, 1902.— Locomotives, 37. Cars— passenger, 11; com- bination, 5; baggage, 5; cafg, 3; business, 2; freight (box, 399; stock, 172; flat, 58; coal, 373; refrigerator, 1), 1,003; caboose, 27; service, 17— total, 1,073. 4. Operations, 6 months ending June 30, 1902. — Train mileage — passenger, 207,778; freight, 413,970 — total revenue mileage, 621,748; passengers carried, 104,098; carried one mile, 11,148,174; average mile rate, 2.36 cents. Tons freight moved, 416,776; moved one mile, 88,429,922 ; average ton-mile rate, 0.089 cent. . EARNINGS. 6 months ending June 30. 1901 1902 Passenger $226,337 41 $263,608 20 Freight 708,464 61 762,796 27 Mail, Express A Miscellaneous ... 86,02799 93,15148 Totals $1,020,830 01 $1,119,555 95 Averages per Mile 2.25384 2.47126 6 months ending June 30. EXPENSES. 1901 1902 Maint. of Way A Structures $218,555 00 $215,262 13 Maintenance of Equipment 104,456 37 170,849 68 Conducting Transportation 403,753 14 408,015 30 General Expenses 30,018 64 33,869 63 Totals. . . . $756,783 15 $827.996 74 Averages per Mile 1.67049 1,82784 486 POOR S MANUAL, OF RAILROADS SOUTHWESTERN GROUP. Net earnings, 1902 (26.04 p. c.), $291,559.21; other income, $7,821.88— total, $299,- 381.09. Charges: Interest on bonds, $246,725.01; taxes, $21,000; rentals, $5,000 — total, $272,725.01. Surplus, $26,656.08; surplus forward, $369,757.50 — total, $396,413.58. Paid to Morton Trust Co., trustee for stamped stock, under agreement of Oct. 12, 1895, $39,980.71, surplus of 1901. Net surplus June 30, 1902, $356,432.87. To conform to the requirements of the Interstate Commerce Commission and the Texas Railroad Commission the fiscal year of this company has been changed to end on June 30. This interim report is, therefore, for the six months ending June 30, 1902, and the next annual report will be issued for the twelve months ending June 30, 1903. 5. General Balance Sheet, June 30, 1902. Cost of Roadbed and Equipment 117,267,039 61 New Equipment Trustee First Mortgage (spec. fund). Real Estate Owned Stocks and Bonds Owned Cash and Current Assets Materials and Supplies 80,298 75 17,701 25 21,830 80 324,334 08 378,444 98 134,904 94 Total Assets $18,224,55441 Capital Stock ($100 shares) $9,375,00000 Funded Debt (see below) 8,176,00000 Equipment Fund Interest Accrued, not Due. Taxes Accrued Current Liabilities Profit and Loss 76,071 31 40,880 00 19,367 66 180,802 61 356,432 87 Total Liabilities $18,224,554 41 6. Capital Stock. — The capital stock is all in common shares, with equal rights to divi- dends and with equal voting powers ; but on $2,539,992 of it an equal amount of funded interest has been stamped in accordance with the financial agreement with the bondholders in 1896 (see Sec. 7). This funded interest is secured by the deposit of the overdue coupons with the Morton Trust Co. 7. Funded Debt — The funded debt consists of $8,176,000 1st gold 6s of Dec. 1. 1921 ; also $2,539,992 of funded interest stamped on the same amount of common stock (see Sec. 6). This latter amount is entitled to receive all surplus earned by the company for each year up to 4 p. c., but is not entitled to any interest if it is not earned. In the reorganization of the com- pany's finances in 1895, five coupons on each bond, which were in default, were funded ; also 2 p. c. of the interest due from Dec. 1, 1895, to Dec. 1, 1900, during which time interest was paid at the rate of 4 p. c. per annum. Beginning Dec. 1, 1900, interest at the rate of 6 p. c. per annum was resumed. The item "Stocks and Bonds Owned" in the balance sheet as of June 30,. 1902, consists of : 312 shares stamped stock, $31,200 ; 1,000 shares F. W. & D. C. stock, $100,000 ; 200 F. W. & D. Ter- minal Ry. bonds, $190,000 ; 2,000 shares F. W. & D. T. Ry. Co. stock, $3,134.08 — total, $324,334.08. 8. Directors (elected March 8, 1903).— G. M. Dodge, New York, N. Y.; H. Walters, Baltimore, Md. ; Frank Trumbull, Denver, Col. ; Morgan Jones, Chicago, 111. ; D. B. Keeler, S. M. Hudson, W. R. Scott, K. M. Van Zandt, M. A. Spoonts, Fort Worth, Tex. FRANK TRUMBULL, President Denver, Col. D. B. Keeler, Vice-President and Traffic Manager Fort Worth, Tex. Sec. & Treas. — Geo. Strong Fort Worth, Tex. | Auditor — S. M. Hudson Fort Worth, Tex. Asst. Sec. — Harry Bronner 74 Broadway, New York, N. Y. PRINCIPAL OFFICE AND ADDRESS Fort Worth, Tex. GALVESTON, HOUSTON AND HENDERSON RAILROAD COMPANY. 1. Line of Road.— Galveston, Tex., to Houston, Tex 50 miles. Sidings, etc., 32.15 miles. Gauge, 4 ft. 8% in. Rail (steel, 50 m.), 65 and 66 Ibs. %• History. — Reorganization, Dec. 1, 1882, of a company of the same name, fore- closed Aug. 1, 1882. (See MANUAL for 1898, page 195.) Under a contract to endure for 40 years from Jan. 1, 1896, the Missouri, Kansas and Texas Ry. Co. and the In- ternational and Great Northern RR. Co. have joint trackage rights over the road. This coatract provides for a fixed annual rental of $62,000 from each of those companies, or a total of $124,000. Of this amount, $100,000 is to be paid to the Mercantile Trust Co., trustee under the G., H. & H. mortgage, in two semi-annual installments of $50,000 each, to meet the yearly interest on the 5 p. c. bonds issued under that mortgage. 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 11. Cars — passenger, 7; baggage, mail, and express, 4; freight (box, 2; flat, 15; coal, 1; tank, 2), 20; service, 11 — total cars, 42. POOR S MANUAL OF RAILROADS. 487 4. General Income Account, year ending December 31, 1902. Earnings — Passenger $67,997 50 Freight 154,669 55 Mail and Express 12,60576 Miscellaneous 140,550 57 Expenses -Maint. of Way and Struc $24,641 39 Maintenance of Equipment.. 24,969 50 Conducting Transportation. . . 135,518 40 General Expenses 8,479 22 Total ($7,516.47 per mile) $375,82338 Total ($3,872.17 per mile) $193,60851 Net earnings (48.48 p. c.), $182,214.87; other receipts, $3,568.70— total, $185,783.57. Payments: Interest on funded debt, $100,000; taxes, $3,585.20; other charges, $63,732.54 —total, $167,317.74. Surplus, $18,465.83; surplus forward, $196,173.63— total, $214,- 639.46. 5. General Balance Sheet, December 31, 1902. Cost of Road and Equipment $3,000,000 00 New Fuel Oil Tanks 15,13107 Materials and Supplies 26,58971 Current Accounts and Balances 140,142 27 Cash on Hand 133,33841 Total Assets $3,315,20146 Capital Stock Paid in ($100 shares)... $1,000,000 00 Funded Debt Outstanding 2,000,000 00 Current Liabilities 73,93700 Interest Accrued, not Payable 26,625 00 Profit and Loss 214,639 46 Total Liabilities $3,315,20146 6. Funded Debt consists of let 5s of April 1, 1913, int. A. & O., at the office of the trustee, the Mercantile Trust Co., New York, N. Y. Interest is provided for by the traffic contract referred to in "History." 7. Statement of operations, earnings, etc., for seven years ending Dec. 31: R.R. Operated, 50 Miles. 1896 1897 1898 1899 1900 1901 1902 103,452 18,976 95,245 2,920,321 243,096 11,574,305 $ 54,789 124,048 139,148 67,556 32,800 78,183 2,446,505 155,848 7,172,006 $ 43,240 128,602 140,762 57,166 48,650 49,808 1,369,239 226,068 10,849,065 $ 37,819 199,010 143,770 57,518 50,476 52,553 1.565,176 262,874 12,624,372 $ 43,516 223,230 150,367 57,860 26,351 71,923 2,426,163 118,890 5,506,457 S 66,316 118,476 147,948 59,544 31,305 87,834 2,574,872 151,202 7,220,387 $ 70,487 160,878 153,804 63,544 23,344 131.613 3,958.285 140,977 6,721,397 $ 67,998 154,669 153,156 Freight Train Miles Passenger Mileage Freight (ton) Miles Gross Earnings 317.985 166,411 312,604 149,574 380,599 204,288 417,113 239,485 332,740 177,192 385,169 213,497 375,823 193,609 151,574 6,359 69 3,328 22 3,031 47 52.33 p.c. 1.88 c. 1.07 c. 163,030 6,252 09 2,991 49 3,260 60 47.85 p.c. 1.79 c. 1.77 c. 176,311 7.611 99 4,085 77 3,526 22 53.67 p.c. 2.76 e. 1.84 c. 177,628 8,342 27 4,789 71 3,552 56 57.41 p.c. 2.74 c. 1.76 c. 155,548 6,654 79 3,543 84 3,110 95 53.26 p.c. 2.73 c. 2.15c. 171,672 7,703 37 4,269 93 3,433 44 55.43 p.c. 2.74 c. 2.33 c. 182,214 7,516 47 3,872 17 3,644 30 51.52 p.c. 1.72 c. 2.31 c. Aver. Rate per Ton per Mile 8. Directors (elected April 7, 1903).— F. P. Olcott, H. C. Rouse, George J. Gould, New York, N. Y.; Jas. A. Baker, Houston, Tex.; R. B. Baer, J. H. Hawley, Galveston, Tex.; N. A. Stedman, Palestine, Tex. F. P. OLCOTT, President New York, N. Y. J. H. Hawley, V ice-President Galveston, Tex. Sec. & Treas.— A. A. Van Alstyne..Galveston, Tex. Asst. Sec. & Asst. Treas. — H. B. Henson, Manager — J. H. Hill Galveston, Tex. Auditor — John E. O'Neill New York, N. Y. PRINCIPAL OFFICE AND ADDBESS 7 Galveston, Tex. INTERNATIONAL AND GREAT NORTHERN RAILROAD COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Directors and Officers 11 Earnings, Expenses, etc 6 Earnings, etc., 1896-1902 9 Equipment, Schedule of 4 Equipment Trust Obligat'ns. 8 Funded Debt Details 6 General Balance Sheet 7 Gen. Bal. Sheet, 1896-1902.... 9 History 2 Income Acct., Dec. 30,1902... 6 Mileage Operated 1 Operations and Inc., 1896-1902. 9 Proprietary Roads' State'ts . . 10 Rolling Stock 4 Trackage Contracts 3 488 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 1. Mileage Operated, Dec. 31, 1902. — A. LINES OWNED (total, 930.70 miles). Main Line: Longview, Tex., to Laredo, Tex 493.90 miles. Houston Division: Palestine, Tex., to Houston, Tex 150.70 " Fort Worth Division : Spring to Cotton Belt Conn, at East Waco, Tex 178.80 " Mincola Branch: Troupe to Mineola, Tex 44.40 " Columbia Branch: Houston to Columbia, Tex 50.00 " Calvert Branch: Valley to Calvert, Tex 5.30 " Huntsville Branch: Phelps to Huntsville, Tex 7.00 " Austin Spur: Austin, Tex 0.60 " B. PROPRIETARY RAILROADS (total, 25.70 miles). Georgetown RR. : Georgetown to Round Rock, Tex 9.70 " Henderson and Overton RR.: Henderson to Overton, Tex 16.00 " O. TRACKAGE RIGHTS (total, 50.30 miles). Galveston, Houston & Henderson RR.: Houston to Galveston, Tex 49.30 " 8t. L. S. W. Ry. of Texas : Waco terminals 1.00 " Total length of road operated, Dec. 31, 1902 1,006.70 miles. Average mileage operated during year 980.70 " Sidings, etc., 160.2 miles. Gauge, 4 ft. 9 in. Rail (steel, 1,006.70 m.), 52 to 75 Ibs. 2. History.— Consolidation, Sept. 23, 1873, of the International RR. Co. and the Houston and Great Northern RR. Co.; reorganized, without foreclosure, in 1892 (see MANUAL for 1888, page 770, and MANUAL for 1892, page 746). The Calvert, Waco and Brazos Valley RR., extending from Marlin to Bryan, Tex., 60.62 miles, was pur- chased as of May 1, 1901, and an extension of it from Marlin to Waco, Tex., 40.23 miles, was opened on Nov. 1, 1901. The extension south, from Bryan to Spring, 78.3 miles, was opened May 1, 1902. An extension from Waco to Fort Worth, 95 miles, was com- pleted about May 1, 1903. 3. Trackage Contracts.— Under a contract to endure for 40 years, from Jan. 1, 1896, this company, jointly with the Missouri, Kansas and Texas Ry. Co., has trackage rights over the Galveston, Houston and Henderson RR. under the terms given in the statement for that road on page 486. Under a contract effective Nov. 1, 1901, and terminable only by the consent of both parties, this company has joint and equal use of the freight and pas- senger terminals of the St. Louis Southwestern RR. at Waco, paying a proportion of the expenses besides a rental of 2 per cent, per annum on the value of the terminals. 4. Rolling Stock, Dec. 31, 1902. — Locomotives, 119. Cars — passenger, 60; baggage, mail, and express, 33; freight (box, 2,496; flat, 386; stock, 10; coal, 847; tank, 114), 3,853; service, 248 — total, 4,194. Of this equipment, 15 locomotives, 450 box, 300 flat, 100 tank and 100 coal cars are held under trust. 5. General Income Account, year ending December 31, 1902. Earnings —Passenger $1,093,106 43 | Expenses— Maint. of Way and Struc. . $887,916 80 Maintenance of Equipment.. 627,126 05 Freight 3,643,559 53 Mail and Express 284,25591 Miscellaneous 227,99124 Total ( $6,352.21 per mile) $5,248,913 11 Conducting Transportation.. 2,167,061 84 General Expenses 192,821 26 Total ($3,049.85 per mile) $3,864,92494 Net earnings (24.75 p. c.), $1,383,988.17; other receipts, $10,092.23— total, $1,394,- 080.40. Payments: Interest on -funded debt (1st mortgage, $477,240; 2d mortgage, $352,700; 3d mortgage, $108,500; Colorado Bridge, $13,860; new construction, $175,- 518.92), $1,127,818.92; interest on debt, $15,069.03; taxes, $130,094.05; new equipment and property, $106,587.02 — total, $1,379,569.02. Surplus, $14,511.38; surplus forward, $1,192,372.32— total. $1,206,883.70. O. Funded Debt. — The funded debt on Dec. 31, 1902 — total, $23,134,052.50, as per general balance sheet— consisted of the following : (1) $10,435,000 1st gold 6s of Nov. 1, 1919 ; (2) $9,535,- 000 2d gold 5s of Sept. 1, 1909; (3) $2,966,052.50 (including $245,000 held In the company's treasury) 3d gold 4s of Sept. 1, 1921, and (4) $198,000 Colorado Bridge 1st gold 7s of May 1, 1920. Originally the rate of interest on the 2d mtge. bonds was 6 p. c. per annum, but it was reduced in 1890 to the rate of 4i p. c. per annum for the six years ending Sept. 1, 1897, and 5 p. c. per annum thereafter unless default is made, when the original rate is to be restored. The $2,721,052.50 of POOR S MANUAL — INTERNATIONAL AND GREAT NORTHERN RR. CO. 489 3d mtge. bonds outstanding include .fractional scrip amounting to $8,052.50. Between Dec. 31, 1902, and March 1, 1903, $307,000 additional 1st mtge. bonds and an equal amount of additional 2d mtge. bonds were issued to cover the cost of new mileage constructed. (Additional particulars re- specting the funded debt will be found in the Ready Reference Bond List — see General Index.) 7. General Balance Sheet, December 31, 1902. Cost of Road and Equipment $36,642,189 75 Stocks and Bonds Owned 263,221 72 Colo. Bridge Quar. and Sink. Fund.. 16,149 08 Materials and Supplies 452,433 87 Cash on Hand 2,014 65 Current Accounts and Balances 662,10131 Due for Replaced Equipment 547,87100 Unearned Int. Equip. Trusts 77,98320 Other Assets 288,247 80 Total Assets $38,952,21238 Cap. Stk. ( $25,000,000 au., $100 shares). .$9,755,000 00 Funded Debt (see Sec. 6) 23,134,05250 Construction Obligations (unfunded).. 2,311,750 16 Equipment Trust Obligations 625,85420 Unadjusted Premium on Bonds 379,246 60 Current Liabilities 1,237,67522 Interest Accrued, not Due 301,750 00 Profit and Loss 1,206,88370 Total Liabilities $38,952,21238 8. Equipment Trust Obligations. — The equipment trust obligations represent the cost of 15 locomotives, 450 box and 100 coal cars built in 1898 and 1900, and 300 flat and 100 tank cars built in 1902, including interest on same for the average period for which the notes run. The notes mature monthly to and Including the year 1908. 9. Statement of operations, income and capital accounts, for seven years ending Dec. 31: 1896 1897 1898 1899 1900 1901 1902 Miles of RoadOperated Passenger Train Miles. Freight Train Miles. . . Passengers Carried. . . Passenger Mileage. . .. Freight (tons) Moved . Freight (ton) Miles.. . . Passenger Earnings. . . 825.40 1,066,610 1,588,437 522,584 30,598,183 1,008,852 204,702,059 $ 741,788 2,549,646 236,743 825.40 1,015,145 1,632,150 504,842 29,488,849 1,114,417 234,431,262 S 698,811 2,724,638 233,887 825.40 1,068,577 1,490,188 581,083 35,177,675 1,220,982 241,655,502 $ 812,131 2,917,527 261,197 825.40 1,093,689 1,486,062 609,058 38,798,898 1,268,221 246,088,115 $ 905,816 2,938,185 333,807 825.40 1,208,466 1,472,616 736,177 42,555,017 1,414,021 272,958,019 8 962,332 3,124,722 351,522 872.20 1,320,840 1,515,644 885,233 46,395,519 1,599,821 301,370,106 $ 1,094,742 3,644,403 408,947 980.70 1,445,920 1,574,341 909,337 48,290,050 1,679,318 317,468,483 $ 1,093,106 3,643,560 512,247 Gross Earnings 3,528,177 2,697,482 3,657,336 2,675,507 3,990,855 2,789,500 4,177,808 2,973,001 4,438,576 3,232,225 5,148,092 3,820,654 5,248,913 3,864,925 1,383,988 10,092 Operating Expenses.. . 830,696 7,349 981,829 6,215 1,201,355 1,868 1,204,807 4,976 1,206,351 8,157 1,327,438 11,956 Other Receipts Net Income 838,045 794,670 134,552 —91,177 4,274 50 3,268 00 1,006 41 76,45 p. c. 2.42 c. 1.25c. $ 9,755,000 18,105,629 988,044 856,380 166,773 —35,109 4,430 99 3,241 47 1,189 52 73.15 p. c. 2.37 c. 1.16c. S 9,755,000 18,178,887 177,540 1,014,755 956,092 1,203,223 952,227 204,473 +46,523 4,835 05 3,379 57 1,455 48 69.90 p. c. 2.27 c. 1.21 c. S 9,755,000 18,179,548 409,166 1,172,822 1,002,613 1,209,783 952,368 222,794 +34,621 5,061 55 3,601 89 1,459 66 71. 16 p.c. 2.34 c. 1.19c. $ 9,755,000 18,179,548 239,727 993,787 1,037,235 1,214,508 952,415 225,100 +36,993 5,377 48 3,915 95 1,461 53 72.82 p. c. 2.26 c. 1.14c. $ 9,755,000 18,179,052 454,872 1,174,121 1,074,228 1,339,394 1,011,742 209,508 +118,144 5,902 42 4,380 48 1,521 94 74.22 p. c. 2.31 c. 1.2lc. S 9,755,000 20,366,052 357,590 2,914,838 1,192,372 1,394,080 1,127,819 251,750 +14.511 5,352 21 3,949 85 1,402 36 75.25 p. c. 2.22e. 1.15c. $ 9,755,000 23,134,053 625,854 4,230,421 1,206,884 Int. on Funded Debt. . Balance (+ or — ) Gross Earn, per Mile . . Gross Exp. per Mile. . . Net Earnings per Mile. Expenses to Earnings. Av.Rate p. Pass. p. Mile Av.Rate p. Ton p. Mile Capital Stock Funded Debt Equip Trust Obliga. . . Current Liabilities. . . . 954,569 991,200 Total Liabilities. . . . Road and Equipment. Stocks and Bonds Materials and Supplies Cash & Current Assets Total Assets 29,806,398 28,669,149 308,997 153,448 674,804 30,082,274 28,909,149 299,362 148,973 724,790 30,519,149 28,909,149 299,362 204,800 1,105,838 30,205,297 28,909,149 290,862 215,330 789,956 30,637,273 28,904,149 289,322 159,992 1,283,810 34,585,853 32,934,031 289,322 275,981 1,086,519 38,952,212 36,642,190 263,222 452,434 1,594,366 29,806,398 30,082,274 30,519,149 30,205,297 30,637,273 34,585,853 38,952,212 1O. PROPRIETARY RAILROADS OF THE INTERNATIONAL AND GREAT NORTHERN RR. Co. GEORGETOWN RR Georgetown to Round Rock, Tex., 10 m. ; total track, 11 miles. Char- tered May 31, 1878; opened Dec. 11, 1878. Sold under foreclosure Aug. 6, 1879. Owned by the I. & G. N. RR. Co. HENDERSON AND OVEUTON RR Hen- derson to Overton, Tex., 16 m. ; total track, 16.6 miles. Chartered April 6, 1874; opened May 8, 1877. Owned by the I. & G. N. RR. Co. 490 POOKAS MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Gco. J. Gould. . Lakewood, N. J. Edwin Gpuld...Irvington, N. Y. Howard Gould.. Tarrytown.N.Y. Ira H. Evans Austin, Tex. N. A. Stedman... Palestine, Tex. W. L. Maury " 11. Board of Directors, I. A O. N. RR. Co., elected April 6, 1903. F. J. Gould.... New York, N. Y. Leroy Trice Palestine, Tex. A. R. Howard.... GEORGE J. GOULD, President New York, N. Y. Frank Jay Gould, 1st V 'ice-President Leroy T'rice, 2d Vice-Pres. & Gen. Manager Palestine, Tex. Sec. & Treas.— A. R. Howard Palestine, Tex. | Auditor— W. L. Maury Palestine, Tex Asst. Sec & Asst. Treas. — H. B. Henson., New York, N. Y. PRINCIPAL OFFICE AND ADDRESS . . Palestine, Tex. KANSAS CITY, CLINTON AND SPRINGFIELD RY. CO. 1. Main Line Of Road. — Olathe, Kan., to Ash Grove, Mo. 154.22m. Pleasant Hill Branch: Raymore June, to Pleasant Hill, Mo.... 8.41m. Springfield Division: Arcadia, Kan., to Springfield, Mo 85.00 in. — 247.63 miles. Sidings, 31.37 miles. Gauge, 4 ft. 8% in. Rail (steel, 261.52 m.), 52 and 56 Ibs. 2. History.— Consolidation, Feb. 12, 1885, of the K. C., C. & S. and the Pleasant Hill and De Soto RR. Cos. Road opened Nov. 1, 1885. In Sept., 1901, the company purchased of the Kansas City, Fort Scott and Memphis Ry. Co. a line extending from Springfield, Mo., to Arcadia, Kan., about 85 miles (see GENERAL INDEX for K. C., F. S. & M. Ry. Co.). 3. Rolling Stock, June 30, 1901. — Locomotives, 12. Cars — passenger, 6; baggage, mail, and express, 3; freight (box, 86; coal, 127), 213— total, 222. 4. Operations, year ending June 30, 1902. — Train mileage — passenger, 119,190; freight, 120,581; other, 343 — total, 240,114 miles. Passengers carried, 132,065; carried one mile, 3,523,611; average mile rate, 2.24 cents. Tons freight moved, 197,259; moved one mile, 13,573,386; average ton-mile rate, 1.44 cents. Earnings— Passenger 179,066 75 Freight 196,724 75 Mail and Express 21,647 64 Miscellaneous 9,93443 Expenses— Maint. of Way and Struc $72,235 89 Maintenance of Equipment... 20,961 64 Conducting Transportation... 86,15839 General Expenses 11,80664 Total ($1,241.22 per mile) $307,373 67 Total ($771.97 per mile) $191,162 56 Net earnings (37.81 p. c.), $116,211.01; other receipts, $41,237.09— total, $157,- 448.10. Payments: Interest on funded debt, $273,660; taxes, $30,480.42— total, $304,- 140.42. Deficit, $146,692.32; deficit forward, $746,246.50— total, $892,938.82. 5. Capital stock, bonded debt, gross and net revenue, etc., for seven fiscal years: Yews. 1896. 1897. 1898. 1899. 1900. 1901. 1902. Capital Bonded CostRR. 4 Stock. Debt. Investments. $ $ $ 1,775,400 3,250,000 5,043,321 1,775,400 3,250,000 5.043,321 1,775,400 3,250,000 5,043,321 1,775,400 3,250,000 5,040,971 1,775,400 3,250,000 5,040,971 1,775,400 3,250,000 5,035,071 1,775,400 5,250,000 7,035,071 RR.Op- Gross Net Net Taxes erated. Earnings. Earnings. Income. Paid. Miles. $ $ $ $ 162.63 403,916 185,078 185,242 19,368 162.63 330,045 125,097 125,208 20,414 162.63 339,447 139,442 139,798 21,320 162.63 284,278 81,085 82,965 15,986 162.63 301,516 88,326 88,987 17,902 162.63 351,584 135,407 136,351 17,825 247.63 307,374 116,211 157,448 30,480 Interest Total Balance, Paid. Pavm'ts. (-for—). $ $ $ 163,660 183,028 + 2,214 163,660 184,074 —58,867 163,660 184,980 -45,182 163,660 179,646 -96,681 163,600 181,562 —92,576 163,660 181,485 —45.134 273,660 304,140 —146,692 6. General Balance Sheet, June 30, 1902. Cost of Road .......................... $6,798,57637 Cost of Equipment ..................... 236,49442 Materials and Fuel on Hand 11,711 15 Cash and Current Assets .............. 73,685 69 Profit and Loss ......................... 892,93882 Capital Stock ($100 shares) $1,775,40000 Funded Debt Outstanding 5,250,00000 Accrued Interest 40,91500 Current Accounts 947,091 45 Total Assets $8,013,40646 Total Liabilities $8,013,40645 7. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of (1) $3,192,000 1st gold 5s of Oct. 1, 1925; (2) $58,000 P. H. & De S. RR. 1st gold 7s of Oct. 1, 1907, and (3) $2,000,000 K. C., F. S. & M. RR. Co. consol. gold 6s of May 1, 1928, assumed by this company in the purchase of the Springfield Division. The bonds are guaranteed, both as to principal and interest, by the Kansas City, Fort Scott and Memphis Ry. Co. The 1st mtge. POOR'S MANUAL OF RAILROADS. 491 bonds are secured on the entire property of the company (exclusive of the line from Springfield to Arcadia, purchased from the K. C., F. S. & M. Ry. Co.), subject to the lien of the $58,000 P. H. & De Soto RR. bonds on the line from Pleasant Hill, Mo., to Cedar June., Kan., 44.96 miles. The line from Springfield to Arcadia is covered as a first lien by one of the divisional mortgages of the Kansas City, Fort Scott and Memphis Ry. Co., the bonds secured by which are to mature Sept. 1, 1910, and is also covered by the K. C., F. S. & M. RR. Co.'s consul, mtge. bonds, $2,000,000 of which have been assumed by this company. 8. Directors (elected March 11, 1903).— H. S. Priest, Wilbur F. Boyle, Geo. W. Easley, St. Louis, Mo.; Wallace Pratt, I. P. Dana, Kansas City, Mo.; Grant Hornaday, Fort Scott, Kan.; G. D. Milligan, Charles A. McCann, E. M. Smith, Springfield, Mo. H. S. PBIEST, President St. Louis, Mo. Supt., Frt. & Pass. Agt. — E. J. Perry, | Sec., Trees. & Aud. — E. M. Smith.. Springfield, Mo. Springfield, Mo. , PRINCIPAL OFFICE AND ADDBESS Springfield, Mo. KANSAS CITY SOUTHERN RAILWAY COMPANY (THE). INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Bonds and Stocks Pledged. ... 9 Capital Stock 6 Controlled Prop. Acquired. . 2a Directors and Officers 11 Dividend Rights 6 Earnings, Expenses, etc. ..4, 4a Earnings, etc.. 1900-1902 10 Funded Debt 9 Gen. Bal. Sheet, June 30, 1902. 6 History 2 Income Acct., June 30, 1902... 4 Mileage Oper'd, June 30, 1902.. 1 Operations and Inc., 1900-02. 10 Rolling Stock 3 Securities Owned 8 Securities Pledged 9 Voting Trust 7 1. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 822.36 miles). Main Line: ( Grand View, Mo., to Port Arthur, Tex 765.35 miles. '•' I Kansas City to Belt Junction, Mo 11.97 " Fort Smith Branch: Spiro, Ind. T., to Fort Smith, Ark 16.15 " White Cliffs Branch: Wilton, Ark., to White Cliffs, Ark 6.31 " Lake Charles Branch : De Quincey to Lake Charles, La 22.58 " B. TRACKAGE RIGHTS: 8t. Louis d San Francisco RR.: Belt Junction to Grand View, Mo 11.03 " Total length of lines operated June 30, 1902 833.39 miles. 2d track, 5.57 miles; sidings, etc., 221.16 miles. Gauge, 4 ft. 8% in. Rail (steel), CO, 75 and 85 Ibs. 2. History. — Incorporated March 19, 1900, under the laws of Missouri, as suc- cessor to the Kansas City, Pittsburg and Gulf RR. Co., whose property was sold under foreclosure on March 19, 1900 (see MANUAL for 1899, page 555, and MANUAL for 1900, page 658). The company took possession of the property on April 1, 1900. The lines in Texas are owned and operated by the Texarkana and Fort Smith Ry. Co., all of whose securities are owned by this company. For convenience the statistics of the Texarkana and Fort Smith Ry. Co. are incorporated in this statement. 2a. Acquisition of Controlled Properties.— In the reorganization the company acquired nearly all of the stock and bonds of the Kansas City Suburban Belt RR. Co. and its controlled companies (Kansas City and Independence Air Line Co. and Union Terminal RR. Co.), and of the Port Arthur Channel and Dock Co., the owner of a ship canal from Port Arthur to Deep Water, with docks and terminal facilities. The mortgages on these controlled properties were foreclosed on Dec. 31, 1902. The Kansas City terminals were acquired by deed by the Kansas City Southern Ry. Co. on Jan. 4, 1902. The Port Arthur Channel and Dock Co.'s property has been acquired by a purchasing com- mittee, and a company under the title of Port Arthur Canal and Dock Co. has been organ- ized under the laws of Texas and will be vested with the ownership of the property. 3. Rolling Stock, June 30, 1902.— Locomotives, 131. Cars— passenger, 38; com- bination, 6; excursion, 5; baggage, mail, and express, 19; freight (box, 3,084; flat, 715; stock, 327; coal, 1,649; furniture, 220), 5,995; service, 638— total, 6,701. 492 POOR'S MANUAL OP RAILROADS — SOUTHWESTERN GROUP. 4. General Income Account, year ending June 30, 1902. i — Maint. of Way and Struc... $699,222 66 Maintenance of Equipment. 766,095 56 Conducting Transportation.. 1,915,595 16 General Expenses 235,212 41 K»rninfffl— Passenger 1752,51655 Freight 4,462,254 Oo Mail and Express 187,02134 Miscellaneous 49,07870 Total ($6,640.59 per mile) $5,450,87064 Total ($4,339.05 per mile) $3,616,12579 Net earnings (33.66 p. c.), $1,834,744.85; other receipts, $115,375.93— total, $1,950,- 120.78. Deductions: Interest on bonds, $821,263.31; taxes, $128,850; expenses Kansas City Terminals, $76,661.79; discount, interest and exchange, $7,010.99— total, $1,033,- 786.09. Surplus, $916,334.69; surplus forward ($420,978.13; less adjustments during year $4,387.11), $422,591.02— total, $1,338,925.71. 4a. Earnings and Expenses, Supplementary Statement, 11 months end- ing May 31, 1903, and comparison with 11 months ending May 31, 1902. — Gross earnings — 1903, $5,828,508.42; 1902, $5,268,292.69; increase, $560,215.73. Operating expenses and taxes— 1903, $4,276,480.31; 1902, $3,555,114.36; increase, $721,365.95. Net earnings— 1903, $1,552,028.11; 1902, $1,713,178.33; decrease, $161,150.22. 5. General Balance Sheet, June 30, 1902. Cost of Railways, Equip., Secur., etc. $78,018,730 12 Construe., Impr. and Equip., April 1, 1900, to June 30, 1902 3,372,81486 Securities held for Redemption of Reorganization Certif. of Deposit. 55,795 00 Securities Owned, Ledger Value.... 909,30520 Proprietary Companies 37,464 67 Reorganization Committee 20.287 94 Current Assets 665,30116 Cash 123,71547 Materials and Supplies 474,646 12 Total Assets $83,578,060 53 Preferred Stock ( $100 shares) $21,000,000 00 Common Stock ($100 shares) 30,000,00000 First Mtge. Bonds — Issued 29,999,50000 Accrued Interest on Bonds. Taxes Accrued but Not Due Unadjusted Accounts Renewal and Replacement Funds... , Loans and Bills Payable Current Liabilities 224,996 26 61,194 82 87,480 45 98,341 61 241,086 83 526,534 86 Profit and Loss 1,338,92571 Total Liabilities $83,578,060 63 6. Capital Stock. — Preferred stock is entitled to non-cumulative dividends to the extent of, but limited to, 4 p. c. per annum out of the surplus net earnings in each fiscal year before any divi- dends for such year shall be paid on the common stock. 7. Voting: Trust. — Both classes of stock (except such number of shares as to qualify direc- tors) are vested for five years in the following seven voting trustees : John W. Gates, E. H. Harri- man, Herman Sielcken, Geo. J. Gould, James Stillman, Louis Fitzgerald, Otto H. Kahn. The voting trustees may in their discretion deliver the stock at an earlier date. 8. Securities Owned. — These consisted on June 30, 1902, of $619,189.20 preferred stock, $1,456,175 common stock, and $783,940 first mtge. bonds of the K. C. S. Ry. Co., and $50,000 2d mtge. 6s of the Arkansas Western RR. — total par value, $2,909,304.20. 9. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of $29,999,- 500 out of a total issue of $30,000,000 1st gold 3s of April 1, 1950. The mortgage securing these bonds covers as a first lien the line of railroad of the Kansas City Southern Ry. Co. proper, from Grandview, Mo., to Mena, Ark., and the Kansas City terminals, a total of 368.56 miles of main line and 138.91 miles of branches, 2d track, sidings and terminal tracks. The rest of the system is controlled through ownership of ail the securities, both stocks and bonds, of the constituent companies (Texarkana and Fort Smith Ry. Co., Kansas City, Shreveport and Gulf Ry. Co., Kansas City, Shreveport and Gulf Terminal Ry. Co. and Port Arthur Canal and Dock Co.), and these securities have been deposited as collateral to the bonds issued under this mortgage. Ad- ditional particulars respecting the bonds will be found in the Ready Reference Bond List — see General Index. 1O. Statement of operations, etc., for three years ending June 30: 1900 1901 1902 1900 1901 1902 Miles of Road Oper 833.39 833.39 833.39 Gross Earnings: Passenger. . S 493089 $ 624235 S 752 517 Train Mileage— Pass . 834,001 1,062,412 1,063,745 Freight 3421908 3 924,530 4 462 254 Freight 1,948,348 1,886,530 2,002,788 Other. 203766 204,301 236,100 Mi-roH 10 K^A 11 856 29 298 A 118 7fi1 A 7VinfiA 5 450871 Total Rev. Mileage .. 2,795,889 2,960,798 3,095,831 Operating Expenses . . . 3,326,014 3,399,221 3,616,126 Passengers Carried Passenger Mileage Freight (tons) Moved. . Freight (ton) Miles .... Av. Earn. p. Pass. p. M. . Av. Earn. p. Ton p.M... 479,993 20,402,416 1,834,136 558.332,601 2.416 c. 0.613 c. 620,845 26,292,363 1,848,028 571,483,288 2.374 c. 0.687 c. 893,735 30,362,073 2,038,843 593,113,856 2.478 c. 0.752 c. Net Earnings Gross Earnings p. Mile . Oper. Exp. p. Mile Net Earnings per Mile. . Expenses to Earnings. . . 792,749 4,903 11 3,959 40 943 71 80.75 p.c. 1,353,845 5,703 29 4,078 79 1,624 50 71.52 p.c. 1,834,745 6,540 59 4,339 05 2,201 54 66.34 p.c. POORS MANUAL OF RAILROADS. 493 11. Directors.— H. C. Pierce, J. S. Walsh, St. Louis, Mo.; John W. Gates, John Lambert, J. J. Mitchell, Chicago, 111.; Edwin Gould, George J. Gould, Lawrence Greer, E. H. Harriman, O. H. Kahn, Hermann Sielcken, H. P. Wertheim, New York, N. Y.; S. R. Knott, Kansas City, Mo. S. R. KNOTT, President Kansas City, Mo. George J. Gould, V ice-President New York, N. Y. Secretary. — Alex. Millar New York, N. Y. I Asst.Sec.d Aud. — H. B. Johnson.. Kansas City.Mo. Comptroller — Wm. Mabl | Treasurer — F. V. S. Crosby New York, N. Y. PRINCIPAL OFFICE AND ADDRESS Kansas City, Mo. MISSOURI, KANSAS AND TEXAS RAILWAY COMPANY. (For map of this system, see page 495.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Directors and Officers 16 History 2 Leases and Trackage Con- Earnings, Exp., etc., 1902... 6 Inc. Account, June 30, 1902.. 6 tracts 4 Earnings, Exp., etc., 1896-1902. 14 Income Account, 1896-1902. .. 14 Mile, of System, July 1, 1902. 1 Funded Debt, Details of 10 Interest on Bonds 7 M., K. & T. Ry. Co. of Texas. 3 Gen. Bal. Sheet, June 30, 1902. 9 Land Department 13 Operations and Inc., 1896-1902. 14 Gen. Bal. Sheet, 1896-1902... 14 Leased Lines, Statements of . IS Rentals 8 Guaranteed Bonds 12 Rolling Stock 6 1. Mileage Operated, June 30, 1902. — A. LINES OWNED (total, 1,206.75 miles). Main Line: Texas June., Mo., to Red River, Tex 629.07 miles. Columbia Branch : McBaine to Columbia, Mo 8.53 " Hannibal Division : Franklin Junction to Hannibal, Mo 104.50 " Kansas City Division: Sedalia, Mo., to Paola, Kan 86.42 " lola Branch : Moran to lola, Kan 15.20 " Eldorado Springs Branch: Walker to Eldorado, Mo 14.25 " Kansas City and Pacific Division: Paola, Kan., to Stevens, Ind. T 130.06 " Parsons Division (or Neosho Section) : Junction City to Parsons, Kan.. .. 157.51 " Joplin Branch: Labette, Kan., to Joplin, Mo 45.85 " Krebs Branch : McAlester to Krebs, Ind. T 4.61 Sundry Spurs 10.75 " B. MISSOURI, KANSAS AND TEXAS RY, OF TEXAS (total, 1,069.92 miles). Main Line: Red River to Houston, Tex 447.65 " Sherman Branch : Denison to Sherman, Tex 11.16 " Henrietta Line: Denison to Henrietta, Tex 112.28 " Shreveport Division: McKinney to Waskom, Tex 182.34 " Denton Branch: Dallas to Denton, Tex 37.62 " Mineola Branch: Greenville to Mineola, Tex 50.50 " Fort Worth Division : Hillsboro to Fort Worth, Tex 54.50 " Belton Branch : Echo to Belton, Tex 7.12 San Antonio Division : Smithville to San Antonio, Tex 100.20 ' Trinity and Sabvne Ry.: Trinity to Colmesneil, Tex 66.55 " O. LEASED AND OPERATED LINES (total, 79.03 miles). Vicksburg, Shrevcport and Pacific RR.: Waskom, Tex., to Shreveport, La. . 17.00 " Wichita Falls Ry.: Henrietta to Wichita Falls, Tex 17.88 " j TTT i. -. TT 17 i> { Atoka to Coalgate, I. T 14.00 m. Denison and Washita Valley Ry.: { Denigon> T«., to Red River. . 6.00m.— 20.00 " Denison, Bonham and New Orleans RR.: Denison to Bonham, Tex 24.15 D. TRACKAGE AND TERMINAL RIGHTS (total, 199.18 miles). Chicago, Burlington and Quincy RR.: St. Louis to Texas June., Mo 24.00 ' Kansas City, Fort Scott and Memphis RR. : Kansas City, Mo., to Paola, Kan. 43.00 ' Missouri Pacific Ry.: lola to Piqua, Kan 7.11 " Texan and Pacific Ry.: Whitesboro to Fort Worth, Tex 71.18 Galveston, Houston and Henderson RR.: Houston to Galveston, Tex 50.00 ' Vicksburg, Shreveport and Pacific RR.: Terminals, Shreveport, La 2.29 " Galveston, Harrisburg and San Antonio Ry.: San Antonio, Tex 1.60 " Total length of lines operated, June 30, 1902 2,554.88 miles. Sidings, 473.36 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 63 to 80 Ibs. 494 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 2. History.— Consolidation, May 20, 1898, of the (first) Missouri, Kansas and Texas Ry. Co., the Missouri, Kansas and Eastern Ry. Co., the Southwestern Mineral Ry. Co., and the St. Louis and Kansas City Ry. Co. (see MANUAL for 1898, page 533). The Kansas City, Eldorado and Southern Ry., 14 miles, was purchased on Oct. 24, 1899, and the Kansas City and Pacific Ry., 130.06 miles, previously leased, was absorbed by consolidation on Nov. 24, 1899. The Missouri Midland Ry., from Columbia to McBaine, Mo., 8.53 miles, was acquired on March 9, 1901; the Fort Scott, lola and Western Ry., from lola to Moran, Kan., 15.2 miles, on April 10, 1902, and the Missouri, Kansas and Northwestern RR., from Joplin, Mo., to Mineral, Kan., 28.85 miles, on May 20, 1902 (see MANUAL for 1902, page 466). 3. M., K. & T. Ey. Co. of Texas. — The Missouri, Kansas and Texas Ry. Co. of Texas (see statement therefor, Section 15), was organized on Oct. 28, 1891, under the laws of the State of Texas, to acquire title to the railroads owned by the Missouri, Kansas and Texas Ry. Co. within that State. An extension from Smithville to Lock- hart, Tex., 37 miles, connecting the Lockhart-San Marcos Branch with the main line, was completed Dec. 1, 1892, and an extension of the main line from Boggy Tank to Houston, 84 miles, was completed April 10, 1893. At about the same time the com- pany acquired the Sherman Branch, built under the charter of Sherman, Denison and Dallas Ry. Co. The extension from San Marcos to San Antonio, Tex., 45.6 miles, was completed and put in operation on May 3, 1901. The Sherman, Shreveport and Southern Ry. Co., owner of the line from McKinney to Waskom, Tex., 182.34 miles, and lessee of the Waskom Extension of the Vicksburg, Shreveport and Pacific RR., was absorbed by consolidation on May 7, 1901 (see MANUAL for 1901, page 488). The entire capital stock of the Texas company is deposited in trust for the benefit of the security of the stockholders and bondholders of the M., K. & T. Ry. Co. Acquisition of Granger, Georgetown, Austin and San Antonio Ry. — Under a special act of the legislature of Texas, approved Feb. 21, 1903, the Granger, Georgetown, Austin and San Antonio Ry., completed from Granger to Georgetown, Tex., a distance of 15.5 miles, has been conveyed to the Missouri, Kansas and Texas Ry. Co., of Texas, and bonds covering it have been issued to the amount of $310,000, under the first mortgage of the Missouri, Kansas and Texas Ry. Co., of Texas. The line will be extended to Austin, the State capital. 4. Leases and Trackage Contracts. — The Denison and Washita Valley Ry. is leased for 50 years ending in April, 1943, at a rental of $60,000 a year. The Waskom Extension of the Vicksburg, Shreveport and Pacific RR. is leased for 25 years from July 28, 1900, at a fixed yearly rental. The company also has joint use of the Shreve- port terminals of the same road at a fixed yearly rental and a proportion of the cost of maintenance, operation and taxes. The Wichita Falls Ry. is operated under a con- tract that will expire July 1, 1930, for an average of something over 20 p. c. of its gross earnings. The company has joint use of the line of the Texas and Pacific Ry. from Fort WTorth to WTritesboro, Tex., 71.18 miles, at an annual rental of 6 p. c. on $10,000 per mile, together with one-half of taxes, expenses, etc. The Galveston, Hous- ton and Henderson RR. is operated by its management equally for the benefit of this company and the International and Great Northern RR. Co., under the terms shown in the statement for the G., H. & H. RR. Co. (see GENERAL INDEX). This company and the International and Great Northern own (one-half each) the capital stock of the G., H. & H. RR. Co. The company has joint use of the line of the Chicago, Bur- lington and Quincy RR., from Texas Junction to St. Louis, Mo., 24 miles, until Feb. 1, 1993, at a fixed yearly rental and a proportional charge for maintenance and opera- lion. The St. Louis freight terminals of the same road are used at a fixed rental of $40,000 a year and a proportional charge for maintenance and operation. The company has joint use of the line of the Kansas City, Fort Scott and Memphis Ry. Co., for J(u.>«^irf®»QtlBf ^^ .>_. \±^ ^^A . °V«/ Lenora" - ^"^^^^^^^^m^^i^ t&B&sM'&elg »€^J>1 talfloll oSi *£ •"" ^IcPherson. Pratt Wellington^ Harper > o DulQuoln Carbondale */•/*. r° larehdoL yHt4umV i O « oPettlgnw UwtonL ,,.^p ^ T \ E fiiMr Y. •kd ^^ss^s: ^ ,1 Spring GrannluV Hke City Na.tiTi]l«, \ VJurdon Toakum' ""!^«E:cSi^ ^fiaTCltyX V. MATAQORO 496 POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. through traffic, paying therefor a fixed rental of $30,000 a year and a proportional charge for operation, maintenance and taxes, the contract to endure for 99 years from April 1, 1894. The contract with the Galveston, Harrisburg and San Antonio Ry. Co. runs 10 years from May 3, 1901, and secures to the company joint use of tracks and terminals at San Antonio, at a fixed rental of $15,300 a year, a proportional charge for betterments, additions and improvements, and a proportional charge for maintenance and operation. The tracks of the Missouri Pacific Ry., from lola to Piqua, Kan., 7.11 miles, are used under a 25-year contract dated March 26, 1902, at a rental of $2,844 a year and a proportion of the cost of maintenance based on wheelage. 5. Rolling Stock, June 30, 1902. — Locomotives, 330. Cars— passenger and com- bination, 157; baggage, mail and express, 69; freight (box, 5,947; flat, 713; coal, 2,867; stock, 495; combination coal and stock, 200; refrigerator, 99; furniture, 1,265; caboose, 172), 11,758; other, 197— total, 12,181. 6. General Income Account, year ending June 30, 1902. Earnings — Passenger $3,040,842 15 Freight 12,632,692 39 Mail and Express 624,39008 Other 93,475 29 Total ($6,556.56 per mile) $16,391,39991 Expenses — Maint. of Way and Struc... $2,645,289 20 Maintenance of Equipment. 1,498,573 13 Conducting Transportation. 6,625,917 00 General 777,42700 Total ( $4,618.89 per mile) $11,547,206 33 Net earnings (29.55 p. c.), $4,844,193.58; other income, $33,813.33— total, $4,878,- 006.91. Payments: Interest on bonds, $3,226,844.18; rentals of tracks and terminals, $417,864.61; taxes, $324,358.29— total, $3,969,067.08. Surplus, $908,939.83; surplus forward (amount to June 30, 1901, $2,585,141.85; less payments for new equipment to June 30, 1902, $2,233,733.85), $351,408— total surplus, June 30, 1902, $1,260,347.83. 7. Interest on Bonds.— M., K. & T. Ry. 1st 4s, $1,592,520; M., K. & T. Ry. 2d 4s, $800,000; M., K. & T. Ry. Extension 1st 5s, $98,333.34; M., K. & T. Ry., St. Louis Div., 1st refunding 4s, $64,090; M., K. & T. Ry. of Tex., 1st 5s, $179,850; M., K. & E. Ry. 1st 5s, $200,000; M., K. & E. Ry. 2d 5s, $2,487.50;; K. C. r Mi]p Earnings — Passenger Freight Mail and Express Other Total 18,763,316 89 2,461,119 23 5,588,308 31 4,752,903 49 414,357 77 1,091,792 29 226,550 52 307,935 65 254,030 89 31,726 71 17,640,578 44 1,934,029 88 4,153,991 57 4,507,093 39 411,143 40 37,495,687 62 4,621,699 63 10,050,235 53 9,514,027 77 857,227 88 36,661,093 56 5.013,9^0 23 8,993,899 89 8,789,816 43 817,877 97 32,292,287 05 4,306,996 21 8,064,750 85 8,123,335 64 708,311 63 General Total 13,216,688 80 5,546,628 09 820,243 77 271,548 52 11,006,258 24 6,634,320 20 25,043,190 81 12,452,496 81 1,123,373 90 23,615,514 52 13,045,579 04 1,082,916 01 21,203,394 33 11,088,892 72 1,065,093 89 Net Earnings Deduct Taxes Net Operating Income 11,329,122 91 560,967 97 11,962,663 03 341,683 02 10,023,798 83 785,339 73 Deduct Sundry Charges Other Income, Div. from Invertm'ts, etc. . 10,768,154 94 2,422,139 36 11.620,980 01 2,473,431 43 9,238,459 10 1,371,889 35 Total Net Income 13,190,294 30 6.645,672 07 14,094,411 44 6,615,888 70 10,610,348 45 6,791,798 13 Fixed Charges and Rentals Surplus Applicable to Dividend . . .- 6.544,622 23 3,855,110 00 7,478,522 74 3,563,802 50 3,818,550 32 Dividends Paid and Declared Net Surplus. 2,689.512 23 3,914.720 24 3,818,550 32 From surplus net Income for the year 1902 there was appropriated by resolutions of boards ot directors $1.615,871.35 for additional property and improvements to road and equipment during POOR'S MANUAL THE MISSOURI PACIFIC SYSTEM. 503 1902, and $1,000,000 for funds to pay in part for improvements to road and equipment year 1902 ; a total appropriation of $2,615,871.35. Surplus of income for year 1902 over all charges, dividends and appropriations $73,640 88 Surplus at Jan. 1, 1902 8,489,020 62 Net balance to credit of Income Accounts, January 1, 1903 $8,562,661 50 5. River and Gulf Divisions First Mortgage.— On Feb. 26, 1902, the directors of the St. Louis, Iron Mountain and Southern Ry. Co. provided for an issue of $50,000,000 of 4 per cent. 30-year bonds, of which $20,000,000 have been appropriated and sold for the following purposes: 1. To purchase additional terminal properties in St. Louis and East St. Louis, including freight transfer facilitiea across the Mississippi River immediately south of the City of St. Louis. 2. To purchase a railroad now built from East St. Louis to Thebes, 111., with a branch to the Big Muddy Coal Fields, aggregating about 145 miles. 3. To extend the present Iron Mountain System from Batesville, Ark., to Carthage, Mo., and build branches in connection therewith, 254 miles. 4. To extend the Iron Mountain System along the Mississippi River Valley from West Memphis, Ark., to a connection with a low grade line of the Texas & Pacific Railway Co., at Clayton, La. — 278 miles. All of the above 677 miles of railroad is to be built according to modern practices, with low grades, heavy rails, thoroughly ballasted and adapted to economical operation. This new mileage is required for two purposes — to handle expeditiously and economically the large volume of existing traffic of the Iron Mountain System and avoid double tracking of a large portion of the existing main lines, which would otherwise be necessary ; and to establish new through or main lines which will materially add to the volume of tramc and earning capacity of the System. The balance of the bonds secured by the mortgage are to be Issued only under carefully re- stricted provisions of the mortgage, and the proceeds appropriated for building or acquiring other mileage at actual cost, not exceeding in any event $30,000 of bonds per mile of completed main line railroad, and for actual cost of additional terminals, equipment, double tracks or other property in connection with or necessary to the development of the mortgaged property. The mortgage constitutes a first and only lien upon the mileage and other property above speci- fied, and bonds are reserved to complete a System extending from St. Louis along the east side of the Mississippi River to the bridge now being built at Thebes, 111., and on the west side of the river, via West Memphis, to a connection with the Texas & Pacific Ry. at Clayton, La., and by means of this connection completing a Valley Railroad System extending from St. Louis to New Orleans, which is 48 miles shorter than the existing System, having maximum grades of 3-10ths of 1 p. c. as against several sections of existing system reaching as high as 2 p. c. The mortgage will also constitute a first and only lien upon a diagonal line from the above described Valley Line near West Memphis, via the White River Valley, to a connection with the Missouri Pacific System at Carthage, Mo., and by this connection completing a low grade line from Kansas City to Memphis of about 480 miles. The company has acquired all of the bonds of the Memphis Union Belt Ry. Co., which owns a belt line around Memphis, reaching important industries and occupying an important strategic loca- tion with valuable franchises, and these bonds will be deposited with the Trustee of the River and Gulf Divisions Mortgage as additional security therefor. Additional particulars respecting the River and Gulf Divisions bonds will be found on page 518, in the statement for the St. Louis, Iron Mountain and Southern Ry. Co. 6. Capital Accounts. — The changes in the capital accounts during the year were as follows: Capital Resources Used. Capital Stock Increased (Missouri Pacific) $1,400,000 00 Missouri Pacific Equipment Association Certificates issued 2,030,000 00 Iron Mountain Car Trust Certificates issued 1,088,000 00 St. Louis, Iron Mountain & Southern Unifying and Refunding Bonds issued or sold from Treasury 1,531,000 00 Net reduction in value of lands from sales 207,218 76 Total $6,256,218 76 Application of Resources. St. Louis, Iron Mountain & Southern General Consolidated Bonds retired $145,000 00 Sundry Investments costing ^'^'oiK ^ Equipment purchased 4,168,390 84 Application of Improvement Fund Account St. Louis, Iron Mountain & Southern Rail- way, Unifying and Refunding Mortgage 90,002 50 Net Additions to Real Estate. 994,185 78 Settlements Right-of-Way, etc 44,210 18 Construction added to Main Line, Missouri Pacific Ry. : Jefferson City & Boonville Line $1 ,262,845 73 Lake City Branch 186,974 69 Fair Grounds Track, Sedalia 13,671 62— 1.463.492 04 Total $7,557,408 40 The difference, $1,301,189.64, has been paid from current resources and was used principally for purchase of additional equipment and real estate. 7. Construction Work Completed and in Progress Dec. 31, 1902. MEMPHIS, HELENA AND LOTHSIANA RY.. Halley, Ark., to the State line between Arkansas and Louisiana, grading completed and track laid the entire distance, 42.43 miles. Total expenditure to Dec. 31, 1902, $441,799.99. MEMPHIS, HELENA AND LOUISIANA RR., Louisiana State line to Clayton, La., distance 102.48 miles, grading completed and track laid from State line to a point three miles south ; about 80 p. c. 504 POOR S MANUAL OF RAILROADS SOUTHWESTERN GROUP. of tbe remainder of the grading is done and two and one-half miles of track laid from Clayton, north. Total cost, as far as completed, $236,354.20. WHITE RIVER RY., White River Junction, Ark., to Buffalo, Ark., distance 82.00 miles ; track laid to Mt. Olive, Ark., 41.67 miles from White River Junction ; grading has been completed to Devero, Ark., 69.13 miles from White River Junction, and about 90 p. c. of the remaining grade is finished. There was expended account this line during previous year, $226,320.30, which, with the expenditure of $1,299,613.27 in 1902, makes total cost, as far as completed, $1,525,933.57. EL DOKADO AND BASTROP RY., Louisiana State line to El Dorado, Ark., distance, 44.00 miles, track laid to the Ouachita River, 7.50 miles, and about 65 p. c. of remainder of the line Is graded. Total expenditure, $244,625.35. MISSISSIPPI RIVER, HAMBURG AND WESTERN RY., extension from Hamburg to Crossett, Ark., distance 12.40 miles, was completed during the year at a cost of $136,333.99. CARTHAGE AND WESTERN RY., from a connection with the Lexington & Southern Division north of Carthage, to a connection with the Kansas City Southern Railway at Asbury, Mo., distance 17.96 miles. About 90 p. c. of the first ten miles out of Carthage is graded ; work on the remainder com- menced at several points during the last part of Dec. Total amount expended, $132,070.22. PFEIFFER QUARRY SPUR, from a point on the White River Branch near Batesville, Ark., to stone quarries, distance 5.00 miles ; about 60 p. c. of the work has been completed at a cost of $3,529.83. WEBB CITY SPURS AND EXTENSIONS, from Scotland to Mear's Mines, Mo., distance 16.86 miles, was completed during the year at a cost of $212,791.92. JEFFERSON CITY, BOONVILLE^ AND LEXINGTON BRANCH, from Cole Junction, Mo., near Jefferson City, to Boonville, Mo., distance 41.39 miles, completed during the year at a cost of $308,341.90, which added to the expenditure of $954,503.83 incurred in 1901, makes a total cost of $1,262,845.73. LAKE CITY BRANCH, Lake City to Rock Creek, Mo., distance 7.76 miles, was completed during 1902. There was $108,057.08 expended on this line in 1901, which with $78,917.61 expended in 1902, makes total cost $186,974.69. YATES CENTER BRANCH, for the purpose of dispensing with a long bend In the main line and decreasing grade from 1 p. c. to 0.6 p. c. maximum, a detour 8.6 miles in length Is under construc- tion at Yates Center, Kan., which will also reduce the distance 2.4 miles as compared with the pres- ent line. Total cost, as far as completed, $102,195.80. The line from Jefferson City to Boonville, Mo., and the Lake City Branch were opened for traffic about July 1, 1902 ; and 41.67 miles of the White River Ry. is also being operated. Of the new lines of railway on which construction progressed during the year, there were 175 miles of track laid and on over 140 additional miles grading was finished at the close of the year. 8. Current Finances.— The following is a brief statement showing the disposition made of current funds during the year: Current Resources. Surplus of income for the year over all charges $6,544,622 23 Add net Increase of current accounts representing collections of accounts applicable to year 1901, and amounts charged out this year but not yet paid 4,586,086 48 Total current funds $11,130,708 71 Appropriation of Resources. For Current Operations — Dividend No. 46, paid Jan. 20th $1,910,050 00 Dividend No. 47, paid July 20th 1,910,055 00 Additional Property and Improvements to Road and Equipment during 1902, in excess of amount of funds appropriated out of Surplus of 1901 1,615,871 35 Payment of Equipment Notes, etc 345,136 20 Investment in stock of Wiggins Ferry Co. and other investments to be shortly sold for cash 861,08042 — 6,642,192 97 For Capital Purposes for which Capital Funds are still to be provided — Purchase of material principally for construction purposes 393,281 72 For amount, as shown in previous statement, covering new mile- age and equipment added to System and additions to Real Estate 1,301,189 64 New mileage not completed nor capitalized 2,794,044 38 — 4,488,515 74 Total $11,130,708 71 The expenditures for new mileage are principally represented by the partial construction of the following lines : Extension from Scotland to Mear's Mines, Mo. ; Yates Center Branch Detours ; Carthage and Western Ry. ; White River Ry. ; Memphis, Helena and Louisiana Ry. ; Memphis, Helena and Louisiana RR., and Eldorado and Bastrop Ry. The larger portion of the advances from current resources to meet these capital requirements will be reimbursed by the sale of the River and Gulf Divisions 1st mtge. bonds of the St. Louis, Iron Mountain and Southern Ry. Co. THE MISSOURI PACIFIC RAILWAY COMPANY. (For map of this system, see page 501.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 8 Detailed Inc. Acct., Dec. 31, 1902 4 Directors and Officers 16 Earnings, Expenses.etc., 1902. 4 Earnings, Exp.,etc., 1896-1902. 7 Equipment Obligations 11 Funded Debt, Details of 6 Gen. Bal. Sheet, Dec. 31, 1902. 9 Gen. Bal. Sheet, 1896-1902.... 7 History 2 Income Acct., Dec. 31, 1902. .. 4 Income Acct., 1896-1902 7 Investments, Details of 12 Leased Line Statements 15 Mileage Operated 1 Rentals 5, 14 Resources of Mo. Pac. and their application 13 Rolling Stock 3 Subsidiary Bonds deposited with Trustees 10 POORS MANUAL — THE MISSOURI PACIFIC RY. CO. 505 1. Mileage Operated, Dec. 31, 1902.— A. LINES OWNED (total, 1,134.04 miles). 'Main Line: St. Louis, Mo., to 3d St., Atchison, Kan 330.11 miles. 'Nebraska Extension: Central Branch Jc., Kan., to Papillion, Neb 148.01 " *Sarpy County Extension: Papillion Junction to Sarpy County Line, Neb. . 2.09 " * Poplar Street Track: Eleventh St. to The Levee, St. Louis, Mo 1.00 " *Laclede & Creve Caeur Lake Branch: Junction to Creve Cceur Lake, Mo. 11.99 " 'Carondelet Branch: Kirkwood to Carondelet, Mo 12.44 " 'Glencoe Branch: Glencoe to Lime Kilns, Mo 4.00 " 'Lebanon Branch: Jefferson City to Bagnell, Mo 45.04 'Jefferson City, Boonville and Lexington Branch: Cole Jc. to Myrick, Mo. 118.16 'Marshall Branch : Marshall Junction to Marshall, Mo 2.48 'Lexington Branch: Sedalia via Lexington to Independence, Mo 88.40 'Lake City Branch: Lake City, Mo., to Atchison Connection 7.76 'Blackwater Branch: Warrensburg, Mo., to Stone Quarries 3.00 'Kansas and Arizona Division: Paola to Le Roy Junction, Kan 61.14 'Ottawa Branch: Osawatomie Junction to Ottawa, Kan 21.62 'Lexington & Southern Division: K. C., F. S. & M. June, to Joplin, Mo. 132.69 'Webb City Spurs and Extensions: Oronogo to Granby, Mo 24.29 'Nebraska City Branch: June, with Neb. So. Ry. to Weeping Water, Neb. 26.76 'Lincoln Branch: Weeping Water to Lincoln, Neb 33.92 'Crete Branch: Talmage to Crete, Neb 58.18 B. PROPRIETARY ROADS — ENTIRE STOCK OWNED (total, 2,055.58 miles). •n«,nfc R*it »« • J SarP7 County Line to Omaha, Neb 13.12 K«" \ Summit Junction to West Side Junction, Neb 3.05 'St. Louis, Oak Hill & Carondelet Ry.: Tower Grove to Carondelet, Mo. 6.30 'Joplin & Western Ry. : J. & W. Junction, to Grand Falls, Mo 4.59 'Fort Scott Central Ry.: Rich Hill Junction, Mo., to Cornell, Kan 57.05 'Nevada & Minden Ry.: Nevada, Mo., to Kansas State Line 32.56 *N. d M. Ry. of Kansas: Mo. State Line to Chetopa, Kan. 41.15 'Nebraska Southern Ry.:~ Auburn, Neb., to June, with Neb. City Branch.. 16.12 'Omaha Southern Ry. : Union to Gilmore Junction, Neb 25.44 . f Kansas and Colorado Pacific Ry.: Ottawa, Kan., to State Line, Col 404.73 Council Grove Connection : Spur Jc. to M., K. & T. Ry. Connec., Kan . . . 0.48 Salina Loop : Gypsum City to Marquette, Kan 27.30 Great Bend Branch: Hoisington to Great Bend, Kan 10.01 Madison Line: Monteith Junction, Mo., to Madison, Kan 101.43 Topeka Division : Fort Scott to Topeka, Kan 131.00 Wichita & Western Division : Fort Scott, Kan., to Ind. T. Boundary .... 244.45 Gilfillan Spur: Gilfillan, Kan., to Stone Quarries 2.40 McPherson Branch: El Dorado to McPherson, Kan 62.40 Wichita d Geneseo Line : West Wichita to Geneseo, Kan 86.57 Chetopa & Larned Line: Chetopa to Larned, Kan 273.04 Grouse Creek Division : Dexter to Arkansas City, Kan 25.07 t Pueblo and State Line RR.: State Line, Kan., to Pueblo, Col 152.12 \Kanopolis and Kansas Central Ry.: Geneseo to Kanopolis, Kan 14.16 \Kansas Southwestern Ry.: Olcott Junction to luka, Kan 24.91 •f Rooks County RR. : Alton to Stockton, Kan 18.25 ^Pacific Ry. in Nebraska: Warwick, Kan., to Prosser, Neb 73.00 ^Sedalia, Warsaw and Southwestern Ry 43.23 ^Kansas City Northwestern RR.: Kan. City, Kan., to St. J. & G. I. RR. Con. 117.04 Virginia Section: Axtell Junction, Kan., to Virginia, Neb 32.92 Seneca Connection : H. B. Connection to St. J. A G. I. RR. Connection . . 0.08 Leavenworth Branch: Menager Junction to South Leavenworth, Kan.. 11.61 O. LINES LEASED BY M. P. RY. Co. FOR SPECIFIC RENTALS (total, 224.05 miles), 'Boonville, St. Louis & Southern Ry.: Versailles, to Boonville, Mo 43.95 'Kansas City & Southwestern Ry. (Mo.) : Cecil, Mo., to State Line, Kan. 20.70 'Kansas City d Southw. Ry. (Kan.): State Line, Mo., to S. W. June., Kan. 27.00 'Verdigris Valley Div. K. d C. P. Ry.: Le Roy to Deering Junction, Kan. . 80.62 *Le Roy d Caney Valley Air-Line: Roper to Peru Junction, Kan 51.78 D. TRACKAGE AND TERMINAL RIGHTS (total, 74.82 miles). 'Central Branch Ry.: Atchison (3d St.) to Central Br. Junction, Kan 1.89 Kansas City, Ft. Scott d Ai. RR: Pleasant Hill Jc. to K. C..F.S.& M. Jc.,Mo. 0.54 Atchison, Topeka and Santa Fc Ry. : Eton to Congo, Mo 7.82 (Continued ort next page.) 506 POOR'S MANUAL OF RAILROADS SOUTHWESTERN GROUP. Statement of Mileage Operated— Continued. *Chicago, Burlington & Quincy KB.: Winthrop to St. Joseph, Mo 21.00 miles. 'Union Pacific Ry.: Gilmore Junction to Summit Junction, Neb 5.47 " * Kansas City Southern Ry.: Pittsburg, Kan., to Joplin, Mo 26.54 ^St. Joseph and Grand Island Ry.: Seneca to Axtell Junction, Kan 10.77 " \Atch., Top. d Santa Fe Ry.: H. B. Connection to Soldiers' Home, Kan. . . 0.79 " *Lines indicated thus are operated as main line — total length 1,620.73 miles. •{•Lines indicated thus are operated as branch lines — total length 1,867.76 " Total length of lines operated by Missouri Pacific Ry. Co 3,488.49 miles. Track Mileage. — Statement showing the mileage of all tracks operated by the Missouri Pacific Ry. Co., exclusive of trackage rights, Dec. 31, 1902: !Main Line First Track. Miles. 1333.42 Second Track. Mile*. 3373 TMrd Track. Miles. 179 Sidings. Miles. 46653 Total Track. Miles. 1 83547 Steel Rails. Miles. 1 793 48 Owned and Proprietary • Branch Line* 1,704.08 78744 2 491 52 236399 Leased Line** 376.17 4695 423.12 421 72 Totals 3,413.67 33.73 1.79 1,300.92 4,750.11 4,579.19 •Includes Pueblo and State Line RR., a proprietary road, but treated as a leased line in the mileage statement given in the report of the Missouri Pacific Ry. Co Gauge, 4 ft. 8y2 in. Rail, 52 to 75 Ibs. 2. History. — Incorporated Oct. 21, 1876, and took over the property of the Pacific RR. Co. of Missouri, which had been sold under foreclosure Sept. 6, 1876. Consoli- dated Aug. 11, 1880, with the St. Louis and Lexington RR., Kansas City and Eastern RR., Lexington and Southern RR., St. Louis, Kansas and Arizona RR., Missouri River RR. and Leavenworth, Atchison and Northwestern RR. (see MANUAL, for 1891, page 784). The accounts of the Kansas City Northwestern RR. Co. and of the Sedalia War- saw and Southwestern Ry. Co. were consolidated with those of the Missouri Pacific Ry. Co. as of Jan. 1, 1901. Trackage rights from Pittsburg, Kan., to Joplin, Mo., 26.54 miles, were acquired of the Kansas City Southern Ry. Co. on July 24, 1900. The extension of the Jefferson City, Boonville and Lexington Branch, from Boonville to Cole Junction, Mo., 41.39 miles, and the Lake City Branch, from Lake Junction, Mo., to a connection with the Atchison, Topeka and Santa Fe Ry., 7.76 miles, were opened for operation on June 3, 1902, and the contract for trackage rights in the Atchison, Topeka and Santa Fe Ry., from Eton to Congo, Mo., 7.82 miles, went into effect on the same day. The Webb City Extension, from Oronogo to Granby, Mo., 24.29 miles, was opened for operation on July 28, 1902. Proprietary and Controlled Roads. — The proprietary railroads are practically owned by the Missouri Pacific Ry. Co. and are fully incorporated into the system. The actual aggregate mileage of them is 2,136.20 miles, including the length of the Verdigris Valley Division of the Kansas and Colorado Pacific Ry., 80.62 miles, which is shown as a leased line in the mileage statement, the Missouri Pacific Ry. Co. being obliged to pay the interest on its bonds by way of rental. The Missouri Pacific Ry. Co. controls the St. Louis, Iron Mountain and Southern Ry. Co., and Central Branch Ry. Co., through the ownership of all or of a large majority of their capital stocks. For information respecting those companies, reference should be made to the separate statements therefor. The company also has large holdings in the shares of the Denver and Rio Grande Ry. Co. and of the Texas and Pacific Ry. Co., friendly interests con- trolling the remaining shares. 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 424. Cars — passenger, 280; sleep- ing, 76; baggage, mail and express, 98; freight (box, 14,325; stock, 680; flat, 822; coal, 6,268; refrigerator, 365; salt, 83; furniture, 346; caboose, 209), 23,098; service, 860— total, 24,412. Of this equipment, 36 locomotives and 2,008 cars (14 baggage, mail and express, 499 coal and 1,495 box) are leased. POORS MANUAL THE MISSOURI PACIFIC RY. CO. 507 4. Op traffic oper EARNINGS. Passenger. .... srations, ye ations see st Main Line. $ 2,422,530 45 8,709,195 97 537,158 15 212,111 17 44,882 90 1.610,895 32 13,536,773 96 8,602 69 ar ending atement on Branch Lines. $ 1,111,964 21 3,745,647 00 173,827 44 85,419 58 5,824 22 103.8W 48 Dec. 31, page 502. Total. $ 3,534,494 66 12,454,842 97 710,985 59 297,530 75 50,707 12 1,714,755 80 1902.— For EXPENSES. Transportation Motive Power . Maint. of Way . Maint. of Cars . statistics of train mileage and Main Line. Branch Lines. Total. $ $ $ 3,123,585 64 1,629,317 85 4.752,903 49 2,921,004 11 1,404,150 85 4,325,154 96 1,441,904 20 1,019,215 03 2.461.119 23 1,167,657 47 95,495 88 1,263,153 35 312,764 55 101,593 22 414.357 77 Freight Mail Express Rent Miscellaneous. . Totals Totals 5,226,542 93 2,798 29 18.763,316 89 5,436 28 8,966,915 97 5,698 59 4,249.772 83 2,275 33 13,216,688 80 3,829 26 Totals p. M.. . Totals p.M... Net Earnings, Main Line (33.76 p. c.) . .$4,569.857 99 Net Earnngs, Branch Lines 976,77010 W. & C. Tpk. & Fy. Co. Surplus 75,778 76 Dividends Received 3,393,69323 Rentals Received 46,385 82 Sundry Receipts 197,58918 Interest on Bonds $2,854,637 60 Taxes 700,361 84 Rentals of Leased Lines 171,64872 Sundry Charges 161,473 56 Dividend No. 47 (2| p. c., July, 1902)... 1,910,055 00 Dividend No. 48 (2J p. c., Dec., 1902)... 1,945,055 00 Total Net Income $9,260,07508 Total Deductions $7,743,23162 Surplus income, $1,516,843.46; surplus to Dec. 31, 1901, $3,237,705.18— total, $4,754,- 548.64. Deductions: Appropriation for improvements to constituent properties for year 1902, $646,599.46; appropriations for additional property, and improvements to road and equipment year 1901, $310,497.29; appropriation to pay in part improvements to road and equipment year 1903, $500,000 — total, $1,457,096.75. Surplus, Dec. 31, 1902, $3,297,451.89. 6. Statement showing the details of dividends and rentals received and of interest and rentals paid as per income account. Accrued Interest on Bonds. Pac. RR. of Mo., 1st mtge $280,00000 Dividends Received. American Refrigerator Transit Co $20,63228 Baring Cross Bridge Co '. 10,50000 Coal Companies 150,00000 Pacific Express Co 216,00000 Union Depot Companies 11,47500 Southwest Lead and Zinc Works 1,20000 The Mo. Pac. Ry. Co 20,50000 Sugar City Townsite Co 1,25000 St. Louis and Miss. Valley Transit Co. 13,036 95 Denver and Rio Grande RR. Co 365,000 00 Certificates Mo. Pac. Equip. Ass'n 6250 Interest on General Consol. Ry. and Land Grant Bonds St. L., I. M. & S. Ry. in Treasury 40000 National Beet Sugar Co 3,42000 Interest on 1st Mtge. Bonds Series " A " K. C. & N. W. RR 37 50 Interest on 1st Mtge. Bonds Southern 111. and Missouri Bridge Co 80000 Dividends on Capital Stock of St. L., I. M. & S. Ry. Co. exchanged for Capital Stock of Missouri Pac.Ry.Co. 2,673,379 00 Rentals Received. Iron Mtn. RR. of Memphis $20,00000 Kansas City Northwestern RR 26,38582 Pac. RR. of Mo., 2d mtge 128,65000 P. RR. of Mo., Real Estate Security.. 40,000 00 Pac. RR. of Mo., Carondelet Br. 1st mtge 10,68750 Mo. Pac. Ry., 3d mtge 267,960 00 Mo. Pac. Ry., Lexington Br. 1st mtge. 32,500 00 The Mo Pac. Ry., Consol. Mtge 894,24000 Trust Five Per Cent 718,800 00 1st Collateral Mortgage 481,80000 Rentals of Leased Lines. Boonville, St. Louis and Southern Ry. $25,000 00 Hannibal and St. Joseph Trackage 10,679 18 Kansas City, St. Joseph and Council Bluffs Trackage 7,00000 The Central Branch Trackage 7,382 Le Roy and Caney Val. Air-Line RR. 26,000 00 Verdigris Val., Independ. & West. RR. 40,300 00 Kansas City and Northwestern RR.... 61,187 60 Atchison, Topeka and Santa Fe Ry... 4,200 00 6. Funded Debt — The funded debt outstanding on Dec. 30, 1902 — total, $54,012,000, as per general balance sheet — consisted of the several issues of bonds, listed in the following statement. Additional particulars respecting any issue will be found in the paragraph relating thereto sub- joined to the statement ; and the details of funded debt outstanding on or about Aug. 1, 1903, will be found in the Ready Reference Bond List — see General Index : $7,000,000 Pac. RR. ( Mo.) 1st gold 4s of Aug. 1, 1938. 2,673,000 Pac. RR. (Mo.) 2d gold 5s of July 1, 1938. 800,000 Pac. RR. Real Est. gold 5s of May 1, 1938. 237,500 Car. Br. 1st gold 4$s of Oct. 1, 1938. 3,828,000 Mo. Pac. Ry. 3d 7s of Nov. 1, 1906. $650,000 Lex. Div. 1st gold 5s of Aug. 1, 1920. 14,904,000 Mo. Pac. Ry.Consol. gold 6s of Nov.1,1920. 14,376,000 Trust gold 5s of Jan. 1. 1917. 9,636,0001st Coll. gold 6s of Aug. 1, 1920. Pacific RR. of Missouri 1st Mtge. Gold Bonds. — Secured on the main line from St. Louis to Kansas City, Mo., 283.74 miles, with rolling stock, machine shops, and depots — average per mile, $24.735. Pacific RR. of Missouri 2d Mtge. Gold Bonds. — Secured on the same line as, but subject to, the 1st mortgage. Average per mile, $9,092. Sinking fund, $50,000 per annum. Pacific RR. of Missouri, St. Louis City Real Estate Mtge. Quid Bonds. — Secured on four blocks of ground In the city of St. Louis, Mo., valued at $2,500,000. Pacific RR. of Missouri, Carondelet Branch 1st Mtge. Gold Bonds. — Secured on the line from Klrkwood, Mo., to Carondelet, Mo., 12.44 miles. Average per mile, $18,846. 508 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Missouri Pacific Ry. 3d Mtge. Bonds. — Secured as a third lien on the main line and as a second lien on the Carondelet Branch, together forming the old Pacific RR. of Missouri. Average per milt, $12,932. The Missouri Pacific Ry. Lexington Division, 1st Mtge. Gold Bonds. — Secured as a first lien on the line from Lexington, Mo., to Sedalia, Mo., 55.5 miles. Average per mile, $11,818. The Missouri Pacific Ry. Consol. Mtge. Gold Bonds. — Authorized issue, $30,000,000, of which $15,096,000 are reserved to cover prior liens. The bonds outstanding ($14,904,000) are secured on The Missouri Pacific Ry. main line (482.11 m.), and branches (578.49 m.). aggregating 1,060.60 m. ; also upon all franchises, rolling stock, etc., now owned or that may be hereafter acquired. Average per mile, $14,058.79. Trust 5 p. c. Gold Bonds. — Secured by a deposit In trust of 1st mtge. bonds of railway companies controlled or operated as part of its system by The Missouri Pacific Ky. Co. The issue of this series of bonds is limited to actually completed mileage of railroads whose 1st mtge. bonds are deposited in trust as above. ( For statement of the companies Issuing the underlying bonds and description of same, see Sec. 10.) Issue limited to $15,000,000. 1st Collateral Mtge. Gold Bonds. — Limited in issue to an amount not exceeding 80 p. c. of the par value of the deposited and underlying 1st mtge. bonds of auxiliary companies. (For statement of securities covered by the collateral trust bonds, see Sec. 10.) 7. Income account and general balances of the Missouri Pacific Ry. Co. for seven fiscal years. For statistics of train mileage and traffic operations, see Sec. 4 of statement for Missouri Pacific System (page 502). 1896 1897 1898 1899 1900 1901 1902 Aver. Mileage Operated . . 3,164.2o S 2054 164 3,164.25 S 2 108955 3.164.25 2,546,49 3.164.25 S 2588375 3,164.25 S 2784,926 3,392.54 3,148,311 3,441.31 1 3 534 495 7355368 9128663 9,691 742 9 667 919 10,921 247 12,621,380 12,454,843 Other 1,655,859 1,747,548 1,873,044 2,017,407 2,224,103 2,614,386 2,773,979 Total 11,065,391 12,985,166 14,111,277 14,273,70 15,930,276 18,384,077 18,763,317 9052465 9 738 231 10,841 990 10 855 575 11 310 152 12,631,558 13 216 689 Net Earnings 2,012,926 3,246,935 3,269,287 3,418,126 4,620,124 5,752,519 5,546,628 Other Receipts 494,815 787,854 790,580 917,277 2,310,385 2,947,301 3,713,447 Total Income 2,507,741 4,034,789 4,059,867 4,335,403 6,930,509 8,699,820 9,260,075 Payments — Interest 3,034,224 3,058438 3,0.58 438 3,058438 3,301 729 2,881,194 2,854,637 Taxes 649,638 640744 649,251 645875 657,443 695,221 700,362 Rentals 115,849 116 182 116,182 116 182 116,285 107,436 171,649 Sundries ' Dividends. . . . 158,645 125,609 228,341 115,036 77.160 92,003 (5) 3,563,803 161.474 (5) 3,855,110 Balance (-J- or — ) —1,450,615 -f 93,816 47,655 -1-399,872 -+2,777,892 -1-1,300,163 -f 1,516,843 Gross Earnings p. Mile Operating Exp. per Mile. . . . Net Earnings per Mile Expenses to Earnings Miles RR. Owned 3,497 00 2,860 86 636 14 81.81 p.c. 1.259.98 4,103 71 3,077 58 1,026 13 75 p.c. 1,259.98 4,459 60 3,426 40 1,033 20 76.83 p.c. 1,259.98 4,510 93 3,430 69 1,08024 76.05 p.c. 1,259.98 5,034 45 3,574 35 1,460 10 71 p.c. 1,259.98 5,418 97 3,723 33 1.695 64 68.71 p.c. 1,259.98 5.436 28 3.829 26 1.607 02 70.44 p.c. 1,333.42 Miles Track Owned 1,664.03 1,66847 1,670.62 1,675.58 1,718.06 1,710.39 1,835.47 Miles of Steel Rail 1,659.91 1,666.35 1,667.01 1,668.38 1,713.94 1,672.05 1,793.48 Locomotives . . 351 351 325 334 340 394 424 Passenger Cars 290 290 290 291 290 340 356 Baggage, etc., Cars 75 73 73 72 76 84 98 Freight Cars 11,985 12,650 14,156 15,968 16,119 21,269 22,889 Caboose and Other Cars Capital Stock 348 $ 47,442,375 659 $ 47.442 375 737 S 47,447,075 743 $ 47,448,650 700 $ 50,432,150 1,002 $ 76,402,875 1,069 $ 77,802.875 Funded Debt 62,138,000 62,138,000 62.138,000 62,138000 65.374,000 54,012,000 56,042,000 Unpaid Interest . 987810 994853 980088 965690 1 135 475 954 180 954,560 Sundry Liabilities 3,771 141 5 154754 5421 999 6840320 4 2SS 329 6768213 14,002,809 Profit and Loss 28 187 35843 435715 3 213 608 3 237 705 3 297,452 Total Liabilities. 114339326 115758 169 116023005 1 17 828 375 124 443 562 141 374973 152,099.696 Cost of Property . 51 609 172 52 310 686 53 466 617 55 232 633 55987013 61 212 577 63.560,105 Other Investments 59,195 221 59 220 174 58214061 57 922 672 60 245 122 71 331 557 72,894,434 Materials and Supplies Current Asset* 835,285 2 134985 807,238 2331 580 864,399 2 515 207 1,065,946 2887642 1,081,569 2 179 907 2.161,941 2659429 2,555,223 8,302.441 Cash on Hand 499034 1 OSS 491 962721 719482 4 949 951 4,009,469 4,787,493 Profit and Loss 65,629 Total Assets 114339326 115,758,169 116,023005 117828375 124 443 562 141,374,973 152,099,696 8. Capital Stock. — The authorized capital stock Is $100,000,000 in $100 shares, increased from $70,000,000 by vote of stockholders June 26, 1901. During the year ending Dec. 31, 1902, $1,400,000 was Issued In part payment for construction of the Lake City Branch and the Jefferson City and BoonvUle Line. BOOR'S MANUAL — THE MISSOURI PACIFIC RY. CO. 509 9. General Balance Sheet, December 31, 1902. rVistntRoad Eauio etc $63,560,10454 Capital Stock (includ. amount exch'ged for Capital Stock of St. L., I. M. * S. Ry.) $77,802,875 00 Funded Debt (see Sec. 6) 54,012 000 00 Supplies and Material on Hand. . f'555'rH „ Investm'ts in Stocks & Bonds . . 72.048,540 20 Expenditures Account of Con- Btruction and Proj. Lines .... 772,152 OC Cash: In hands of Treasurer, Local Treasurer and Paymasters. .. . $3,892,772 45 In Transit, Account Agents 894,720 99— 4,787.493 44 Sundry Accounts Collectible: Agents and Conductors 958,115 34 U S.Gov't (Mail Serviced. .. 324,116 65 U S. Gov't Trans. Fgt.&Pasa 31,140 12 Pacific Express Co 68,344 73 Equipment Obligations 2 030,000 00 Interest Due and Accrued: Due and Uncalled for $64,605 00 Accrued but not Due 889,955 19— 954,560 19 Accounts Payable: Vouchers prior to Dec.. 1902. . 508,253 90 Pay Rolls for Dec., 1902, due Jan 15 1903 1 351,205 50 Vouchers for Supplies for Dec., 1902, due Jan.20,1903 1,418,582 87 Pay Checks Outstanding .... 136,283 45 Notes Payable 350,591 95 Sundry RRs. and Indiv'ls . . . 1,440,056 57 Foreign Roads, Acct. Over- charges refunded 51,144 87— 2,872,918 28 Due to Sundry RR. Com- panies and Individuals. ... 19,349 14 Dividend No. 48, payable Jan 20 1903 1,945,055 00— 5,729,321 81 Elevators Town Lots etc 73,741 84 Loans Payable 6.700,000 00 Special Fund Accounts, Insurance, etc 1,008,258 17 Advances'to Sundry Agts., awaiting adjust 203, 186 03 Due from St L I M 4 S Ry Co . 5 226 337 02 Improvement Fund 500,000 00 Due to Central Branch Ry. Co 65,229 08 Balance of Income Account Dec 31 1902 ... 3 297,451 89 Total Assets ...$152,099,696 14 Total Liabilities ... ... $152,099,696 14 1O. Statement showing subsidiary bonds deposited with trustees, covered by the Trust 5 p. c. and 1st Collateral Mtge. bonds of The Missouri Pacific Ry. Co., as stated in preceding statement of bonded debt, interest on which accrues to The Missouri Pacific Ry. Co.: MORTGAGES. Miles. Date of Mortgage. Date of Bond. Maturity of Bond. AMOUNT. I! flj^e Total Annual Interest Ac- cruing to The Mo. Pac. Ry. Author- ized. Outstand- ing. A. Covered by Mo. Pac. Trust 5 p.c. Bonds: Den M A A Ry 1st Mtge 411.56 46.47 136.02 309.25 40.10 24.91 152.12 July 1.1886 July 1, 1886 Aug. 2,1886 Aug. 1,1887 Dec. 1, 1886 Jan. 1, 1887 Oct. 1, 1887 July 1, 1886 July 1, 1886 July , 1886 Aug. . 1887 Dec. , 1886 Jan. , 1887 Oct. , 1887 July . 1916 July , 1911 July , 1920 Jan. , 1917 Dec. , 1926 Jan. , 1917 Oct. ,1917 $ 16 M. p. m. 15 M. p. m. 15 M. p. m. 4,666,000 15 M. p. m. 15 M. p. m. 15 M. p. m. $ 6,561,000 705,000 2,041,000 4,666,000 600,000 372,000 2,270,000 p.c. fig. 6*. 6g. 7g. 6g. tg" 5 g. $ 393,660 42,300 122,460 326,620 36,000 22,320 113,500 "Wich' 4 Col Ry 1st Mtge Kan & Col RR 1st Mtge F. S., W. & W. Rv., 1st Mtge S S 4 El P RR , 1st Mtge P & State L RR 1st Mtge Totals 1,120.43 17,215,000 1,056,860 76,380 16,500 123,300 18,000 66,600 24,420 33,000 22,560 25,020 24,000 54,750 30,000 97,320 19,700 9.750 19,150 12,100 19,100 3,450 B— Covered by Mo. Pac. 1st. Coll. Mtge Bonds: Top S & W RR., 1st Mtge 51.73 18.25 131.00 19.42 69.53 20.70 27.00 25.07 27.30 6.30 73.00 1.07 101.43 26.27 3.91 26.87 16.12 25.44 4.59 Jan. 1, 1883 Jan. 1, 1886 April 1,1886 July 1, 1886 Aug. 16, 1886 Sept. 1,1886 Sept. 1,1886 July 1, 1887 July 18, 1887 Sept. 1,1887 Sept. 20, 1887 Nov. 10,1888 July 10,1890 Feb. 2, 1891 Feb. 2,1891 Feb. 2, 1891 Jan. 1, 1892 Jan. 1, 1892 June 1. 1892 Jan. 1, 1883 Jan. 1, 1886 April 1,1886 July 1, 1886 Aug. 16, 1886 Sept. 1,1886 Sept. 1, 18S6 July 1, 1887 Julv 18,1887 Sept. 1.1887 Sept. 20, 1887 Nov. 10. 1888 July 10, 1890 Feb. 2,1891 Feb. 2, 1891 Feb. 2, 1891 Jan. 1. 1892 Jan. 1, 1892 June 1,1892 Jan. , 1923 Jan. , 1911 April , 1916 July , 1911 July , 1911 Sept. , 1926 Sept. , 1926 July , 1927 July , 1917 Sept. , 1917 Sept. 20, 1907 Nov. , 1908 July , 1920 Feb. , 1920 Feb. , 1920 Feb. , 1920 Jan. , 1922 Jan. 1, 1922 June 1.1922 4,000,000 275,000 2,400,000 300,000 1,110,000 20 M. p. m. 20 M. p. m. 390,000 15 M. p. m. 400,000 15 M. p. ra. 500,000 16 M. p. m. 15 M. p. m. 50 M. p.m. 15 M. p. m. 15 M. p. m. 15 M. p. m. 15 M. p. m. 1,273,000 275,000 2,055,000 300,000 1,110,000 407,000 550,000 376,000 417,000 400,000 1,095,000 500,000 1,622,000 394,000 195,000 383,000 242.000 382,000 69,000 6g. 6 c. 6g. 6 c. 6 c. 6g. 6g. 6g. 6 c. 6g. 5 c. 6g. 6g. 5g. \g- tg" 5 g. 5g. 5g. Rooks Co RR 1st Mtge K N & D Ry 1st Mtge The M. P. Ry. in K, 1st Mtge C.G.,O.C.AO.Ry., 1st Mtge K. C. & S'n Ry. of Mo., 1st Mtge . . . K. C. A S'w'n Ry 1st Mtge C. G., S. V. & W. Ry., 1st Mtge St. L, 0. H. A C. Ry., 1st Mtge .... Pac Ry in Neb 1st Mtge I Mt RR of Mem 1st Mtge Inter-State Ry 1st Mtge Ft. Scott Central Ry: Ft S 4 E. Ry 1st Mtge Ft S B T Ry 1st Mtge Ft S 4S Ry 1st Mtge Neb So Ry 1st Mtge Omaha So Ry 1st Mtge Joplin 4 W Ry 1st Mtge . ... Totals 675.00 12,045,000 695,100 11. Equipment Obligations. — These obligations, designated Series A, were issued Aug. 27, 1902, under a trust agreement with the Missouri Pacific Equipment Association. They are payable In ten yearly installments of $203,000 each, on Sept. 1, 1903, to 1912. The equipment covered con- sists of 25 freight and 11 passenger locomotives, 2 postal, 5 combination, 7 baggage, 500 coal and 1,500 box cars. POOR 3 MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 12. Statement showing investments in stocks, bonds, and other properties by The Missouri Pacific Ry. Co., Dec. 31, 1902: No. of DESCRIPTION. Sharesor Bonds. Amount. i. SECURITIES OWNED: (A.) Deposited as Security for Issue of Trust and Collateral Mortgage Bonds: 1. For Issue of Trust Five Per Cent. Bonds (total par, $17.215,- 000; cost to company, $14,376,000): First Mortgage Bonds: Kansas 4 Colorado RR 2,041 $2,041,00000 Den., Mem. 4 Atlantic Ry 6,561 6,561,000 00 Pueblo 4 State Line RR 2,270 2,270,000 00 Ft. Scott, Wichita 4 W. Ry 1 Bond 4,666,000 00 Wichita 4 Colorado Ry 705 705,000 00 Salina, Ster. 4 El Paso RR 600 000,00000 Kansas Southwestern Ry 372 372,000 00 2. For Issue of First Collateral Bonds (total par, $12,045,000; cost to company, $9,636,000) : First Mortgage Bonds: Coun. G've, 0. C'y_4 0. Ry 1.110 Topeka, Salina 4 West. RR 1.273 The Mo. Pac. Ry. in Kansas 300 Coun. Gr., Sm. Vy. 4 W. Ry 417 Kan., Neb. 4 Dakota Ry 2,055 Grouse Creek Ry 376 RooksCountyRR 275 Pacific Ry. in Nebraska 1,095 Interstate Ry 1,622 $1,110,000 00 1,273,000 00 300,000 00 417,000 00 2,055,000 00 376,00000 275,000 00 1,095,000 00 1,622,000 00 400,000 00 550,000 00 407,000 00 394,000 00 195,000 00 St. L, 0. Hill 4 Caron. Ry ......... 400 Kan. City 4 Southwestern Ry ...... 550 Kan. City 4 Southw. Ry. of Mo .... 407 Ft.S.C.Ry.:Ft.S.4East.Ry. . .. 394 " " Ft. S. B. T. Ry. ..... 195 " " Ft.S.4So.Ry ....... 383 Joplin 4 Western Ry. ............ 69 Omaha 4 Southern Ry ........... 382 Nebraska Southern Ry ............ 242 Iron Mountain RR. of Mem ....... 500 (B.) Held in Company's Treasury (total par, $111,259,- 102.26; cost to company, $48,036,540.20): Capital Stock: The Missouri Pacific Ry .......... 4,100 $410,00000 St. L., Iron Moun. 4 So. Ry ....... 257,337ft 25,733,790 00 Kan. 4Co. Pac. Ry .............. 223,035 22,303,500 00 Pueblo 4 State Line RR .......... 15,500 RooksCountyRR ............... 4,400 Pacific Ry. in Nebraska. .......... 10,958 S. L., 0. Hill 4Caron. Ry ........ 4,000 Mo. Pac. Ry. of Kansas .......... 300 Omaha Southern Ry .............. 3,823 Nebraska Southern Ry ............ 2.418 Ft. Scott Central Ry ............. 11,148 Joplin 4 Western Ry ............ 916 OmahaBeltRy ................. 8,000 Nevada 4 Minden Ry. ........... 4,500 Nevada 4 MindenRy. of Kansas .. 6,750 Le Roy 4 Caney Vy. A. L. RR . . . . 3,600 Kansas City 4 Southw'n Ry ...... 2,460 Kansas City 4 Southw'n Ry. of Mo 2,070 Kansas Southwestern Ry. ......... 3,399 A Iron Mountain RR. of Mem ....... 7 Cen. Br. Union Pac. RR. Co ....... 8,742 Atch., CoL 4 Pac. RR. Co ....... 9,203 Atch., Jewell Co. 4 W. RR. Co .... 1,050 The Central Branch Ry. Co ........ 75,850 Sed., War. 4 Southw'n RR ........ 5,160 Winfield, Texas 4 Gulf Ry ......... 368 Kanopolis 4 Kan. Cent. Ry ....... 2,650 The Kan. City Northw. RR. Co ..... 40,160 Arkansas Central RR ............ 5,938 69,00000 382,00000 242,000 00 500,000 00 ,, 1,550,00000 440,00000 1,095,800 00 400,000 00 30,00000 382,30000 241,800 00 1,114,80000 91,60000 800,00000 450,000 00 675,00000 360,000 00 246,000 00 207,000 00 339,940 00 700 00 874,200 00 920,300 00 105,000 00 7,585,000 00 516,00000 36,800 00 265,000 00 4,016,000 00 593,80000 No. of DESCRIPTION. Shares or Bonds. Texas 4 Pacific Ry 65,250 Den. 4 Rio Grande Ry.. Com 148,000 Den. 4 Rio Grande Ry.,Pref 73,000 Atoka Coal 4 Mining Co. 4,163 Lexington Coal Mining Co 100 Osage Coal 4 Mining Co 2,000 Rich Hill Coal Mining Co 4,592 Western Coal 4 Mining Co 10,000 Water. 4 Car. Turn. 4 Fy Co 998 Pacific ExpressCo 24,000 American Refrig. Transit Co 930 Kansas Central Elevator Co 750 Exp. 4 Mus. Hall Ass'n St. Louis . . 200 Omaha Fair 4 Speed Ass'n 200 Town Cos. on McPherson Br Mahoney Frog Foot Guard Co 150 St. L. Light Artillery Arm Ass'n. . . lOshares Fort Scott Convention Hall 40 Baring Cross Bridge Co 1,500 Louisiana Purchase Exposition Co . 8,500 So. 111. 4 Missouri Bridge Co 100 National Beet Sugar Co., Pref 100 National Beet Sugar Co., Com 100 St. L. 4 Miss. Vy. Transp. Co 87 Pacific RR. of Missouri 1,278 Missouri Pacific Elevator Co 2,500 Sugar City Townsite Co 500 Interstate Car Transfer Co 625 Pueblo Stock Yards Co 1,250 General Consol. Bonds: St. Louis, Iron Mount. 4 So. Ry 8 First Mortgage Bonds: Kanapolis 4 Kansas Central Ry . . . 225 Leavenw. Union Dep. 4 RR. Co ... 25 Pacific RR. (of Mo.) Carond't Br . . 15 National Beet Sugar Co 57 Kan. City N. W. RR. Co., Ser. "A". 1 Kan.CityN.W.RR.Co.,Ser."B". 2,983 Arkansas Central RR 770 So. 111. 4 Mo. Br. Co #) Second Mortgage Bonds: Ft. Scott, Wichita 4 W. Ry 1 Bond Atchison Union Depot Co. 9 Fractional Scrip: Kan. City N. W. RR. Co., Ser. "A" Kan.CityN.W.RR.Co.,Ser."B" The Mo. Pac. Ry. Co. Capital Stock. Southw. L. 4 Z. Wks., Rich Hill Certificates: Mo. Pac. Equip. Ass'n, Ser. "A". . . 5 Amount. $6,525,000 00 14,800,000 00 7,300,000 00 416,300 00 100,000 00 200,000 00 459,20000 1,000,000 00 99,80000 2,400,000 00 93,000 00 75,000 00 5,000 00 5,000 00 3,50000 15,000 00 150,000 00 85,000 00 10,000 00 10,000 00 10,000 00 8,700 00 127,800 00 250,000 00 5,000 00 125,000 00 8,00000 225,000 00 25,000 00 7,50000 57,00000 500 00 2,983,000 00 770,000 00 60,000 00 1.000,000 00 4,50000 457 26 500 00 15 00 50,00000 5,00000 II. SECURITIES CONTROLLING UNION DEPOTS AND TER- MINALS (TOTAL PAH, $318,720; COST TO COMPANY, $36,096.20): (A.) Union Depots: Capital Stock: St. Joseph Union Depot Co Kansas City Union Depot Co Atchison Union Depot Co Leaven worth Union Depot Co Pueblo Union Depot Co (B.) Terminals and Bridges: Capital Stock: Ter. RR. Association of St. Louis. . . 10 450 9 500 $1,000 00 45,000 00 9,000 00 50,000 00 8,12000 2,056 205,600 00 Total Par Value of Foregoing 140,837,822 26 Total Cost to Company 72,048,540 20 Summary of investments in stocks, bonds, etc., by The M. P. Ry. Co. for 1900-1902: 19 00 19 01 19 02 Par Value. Cost to Co. Par Value. Cost to Co. Par Value. Cost to Co. Securities Owned : Deposited for Trust 5 p. c. Bonds . . . $ 17 215 000 $ 14,376000 $ 17215000 $ 14376000 $ 17215000 $ 14 376,000 Deposited for 1st Collateral Mortgage Bonds . . . Deposited for Gold Funding Notes Held in Company's Treasury 12,045,000 40,605,908 50270399 9,636,000 27,801,395 8254,130 12,045,000 111063324 9,636,000 47 285,96i 12,045,000 111259,102 9,636,000 ' '48,000,444 Securities Controlling Union Depots, etc 293720 33596 293720 33,596 318,720 36,096 ToUk 120,430,027 60,101,121 140,617,044 71,331,557 140,837,822 72,048,540 POOR'S MANUAL — THE MISSOURI PACIFIC RY. CO. 511 18. Statement showing the resources of The Missouri Pacific Ry. Co., and their application, year ending Dec. 31, 1902: Resources. Net Earnings as per Income Account $6,646,628 09 Miscellaneous Credits to Income Account: Waterloo and Carondelet Turnpike & Ferry Co., Net Earnings, $75,778.76 ; Dividends Received. $3,393,693.23 ; Rentals Account Leased Lines, $46,385.82 ; Sundry Amounts, $197,589.18 — total 3,713,446 99 Increase in Liabilities During Year 1902 : Capital stock, $1,400,000 ; Interest Accrued, not due, $12.50 ; Interest Due, not called for, $367.50 ; Due to Sundry Railroads and Individuals, $19,075.29 ; Missouri Pacific Equipment Association Certificates, $2,030,000 ; Advances by Directors, $6,700,000 ; Dividend No. 48, Due Jan. 20th, 1903, $1,945,055 ; Pay Checks outstanding, $26,636.58 ; Special Fund Accounts, Insurance, etc., $622,275.35 ; Improvement Fund 1903, $500,000 — total 13,243,422 22 Decrease in Assets During Year 1902 : Expenditures account Construction and Projected Lines, $596,669.91 ; Due from United States War Department, Trans- portation, $53,848.71 ; Due from Pacific Express Company, $25,424.87 ; Ad- vances to Sundry Agents awaiting adjustment, $9,451.80 — total 685,395 29 Total $23,188,892 59 Application of Resources. Miscellaneous Charges to Income Account : Interest paid on Bonds, $2,854,257.50 ; Increase in Interest Accrued, not Due, $12.50 ; Increase in Interest Due, not called for, $367.50 — Total, $2,854,637.50. Taxes, $700,361.84; Rentals, $171,- 648.72 ; Sundry Amounts, $161,473.56 ; Appropriation for Improvements to Con- stituent Properties for Year 1902, $646,599.46 ; Appropriation for Additional Property, and Improvements to Road and Equipment Year 1902, $310,497.29 ; Appropriation to pay in part Improvements to Road and Equipment Year 1903, $500,000 ; Dividends Paid and Declared, $3,855,110 — total 9,200,328 37 Increase in Assets During Year 1902 : Additions to Property, as per statement, $3,777,813.51 ; Material and Supplies, $393,281.72 ; Investments, $716,982.86 ; Cash on Hand and in Transit, $778,024.36 ; Due from Agents and Conductors, $105,338.65 ; Due from United States Post Office Department, Mail Service, $10,- 751.67 ; Due from Sundry Railroads and Individuals, $732,350.89 ; Due from Foreign Roads, overcharges, $10,671.15 ; Sundry Property Accounts, $12,277.76 ; St. Louis, Iron Mountain & Southern Ry., Current Account, $4,872,625.89 — total 11,410,118 4(5 Decrease in Liabilities During Year 1902 : Vouchers and Pay Rolls, $140,265.74 ; Notes Payable, $202,560.12 ; Improvement Fund 1902, $250,000 ; Dividend No. 46, due Jan. 20th, 1902, $1,910,050 ; The Central Branch Ry., Current Account, $75,669.90 — total 2,578,445 76 Total $23,188,892 59 14. Statement showing amounts paid to and received from other lines, account rentals of tracks during the year 1902: Name of Road Leased. From To Miles Leased. AMOUNT OF RENTAL. NET AMOUNT. Paid. Received. Paid. Received. The Mo. Pacific Ry.: Boonville, St. L. 4 So. Ry Hannibal 4 St. Joseph RR.. . K. C., St. J. 4 Coun. Bl. RR. The Central Branch Ry . . | Verdigris VaL,In.4W.RR. . LeRoy4Caney Val. A. L.RR Kansas City N.W. RR....-J Atch., Topeka 4 S. Fe Ry. . . Boonville, Mo Rushville, Mo Winthrop, Mo Atchison, Kan. . . . Including Joint Pr Leroy, Kan Roper, Kan Kansas City. Kan Menager Jet., Kan Atherton Versailles, Mo.. . St. Joseph, Mo.... Rushville, Mo Central Branch Jc. operty at Atchison Deering, Kan. . . . Peru, Kan Virginia, Neb L' worth, Kan . . . Rock Creek . . 43.95 [ 21.00 \ ..» 80.02 51.78 \ 161.65 \ 7.82 31.26 $ 25,000 00 \ 10,579 18 1 7,00000 7,382 04 40,30000 26,000 00 51,187 50 4,20000 $ $ i Chicago Great Western RR. . St L.I. M. 4 So. Ry Kansas City, Kan. Term. Facilities . . L'worth, Kan Memphis, Tenn . . 26,385.82 20,000 00 Total 7.38204 171,648 72 46,385.82 125,262 90 The Central Branch Ry. : The Missouri Pacific Ry. . . j 8t.Lwri»,I.M.4So.Ry.: Little Rock Junction Ry . . . Little Rock 4 Ft. Smith Ry . Th« Missouri Pacific Ry Total.. Atchison, Kan. . . . Including Joint Pr Little Rock, Ark . Argenta, Ark Term. Facilities . . Central Branch Jc. operty at Atchison Argenta, Ark Ft. Smith, Ark. . . Memphis, Tenn . . [ 1.89 59 171.61 26.52000 163,975 00 20,00000 210,495 00 210,495 00 335,757 90 Total All Lines 512 POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 15. KAILKOADS OWNED OB LEASED BY THE MISSOURI PACIFIC RY. Co. BOONVILLE, ST. LOUIS AND SOUTH- ERN RY. — Boonville, Mo., to Versailles, Mo., 43.95 miles. Leased to The Missouri Pacific Ry, Co. for 30 years from July 1, 1880, at an annual rental of $25,000. FINANCIAL STATEMENT. — Capital stock paid in ($1.000,000 auth. ; $125 shares), $260,000; funded debt, $400,000 — total stock and bonds, $650,000. CORPORATE OFFICERS. — Wm. Speed Steph- ens, Pres. & Treas. ; A. H. Stephens, Sec., Boon- ville, Mo. Office, Boonville, Mo. KANSAS CITY AND SOUTHWESTERN RY. — Mo. and Kan. State Line to Paola, Kan., 27 m. ; total track (steel; 60, 63, and 75 IDS.), 31.80 miles. HISTORY. — Chartered Dec. 24, 1884; road opened Jan. 22, 1888. Leased to Kansas City and Southwestern Ry. Co. of Mo. for 25 years from Jan. 1, 1891 ; rental, interest on bonds, $33,000. BALANCE SHEET, Dec. 31, 1902.— Capital stock paid in ($700,000 auth. ; $100 shares), $276,- 000; funded debt (1st 6s of Sept. 1, 1926; auth., $20,000 per mile), $550,000 — total, representing cost, etc., $826,000. CORPORATE OFFICERS.— George J. Gould, Pres., New York, N. Y. ; C. G. Warner, Vice- Pres., St. Louis, Mo. ; A. H. Calef, Treas., i\ew York, N. Y. ; F. W. Irland, Sec., St. Louis, Mo. Office, Kansas City, Kan. KANSAS CITY AND SOUTHWESTERN RY. OP MISSOURI. — Cecil June., Mo., to Kan. State Line, 20.7 m. ; total track (steel; 75 ibs.), 24.36 miles. HISTORY. — Chartered June 5, 1886 ; road opened Jan. 1, 1891. This company leases the Kansas City and Southwestern Ry. of Kan. on terms shown in the statement for that company. Leased to The Missouri Pacific Ry. Co. for 25 years from Jan. 1, 1891, the lessee assuming all liabilities. Rental, interest on bonds. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $207,000; funded debt (1st 6s of Sept. 1, 1926; auth., $20,000 per mile), $407,000 — total, representing cost, etc., $614,000. CORPORATE OFFICERS. — George J. Gould, Pres., New York, N. Y. ; C. G. Warner, Vice- Pres. ; F. W. Irland, Treas. & Sec., St. Louis, Mo. Office, Kansas City, Mo. KANSAS CITY NORTHWESTERN RR -- Kansas City, Kan., to St. J. & G. I. RR. Connec- tion, 117.1 m. ; Axtell June., Kan., to Virginia, Neb., 32.92 m. ; H. B. Connection to St. J. & G. I. RR. Connection, 0.02 m. ; Menager June, to South Leavenworth, Kan., 11.61 m. — total, 161.65 m. ; total track (steel ; 52, 56 and 75 Ibs.), 186.94 miles. Trackage Rights : St. J. & G. I. Ry., Seneca to Axtell June., Kan., 10.77 m. ; Missouri Pacific Ry., South Leavenworth to Leavenworth, Kan., 0.92 m. ; A. T. & S. F. Ry., spur at Soldiers' Home, Kan., 0.79 m. — total, 12.48 miles. Total mileage operated, 1st track, 174.13 miles. ROLLING STOCK. — The company owns 16 pas- senger cars, 3 combination cars, 4 baggage and mail cars, 386 freight cars (249 box, 2 stock, 112 coal, and 23 fiat), and 12 service cars. HISTORY. — Chartered Dec. 20, 1893, as succes- sor to the Kansas City, Wyandotte and North- western RR. Co. (see Manual for 1894, page 212, and Manual for 1895, page 883). The Kansas City and Beatrice RR., extending from Summerfteld, Kan., to Virginia, Neb., 20.65 miles, was absorbed on Jan. 1, 1897. Operated by The Missouri Pacific Ry. Co. under a lease effective Jan. 1, 1901, at a rental of the interest on the outstanding Series A bonds. The tracks of the St. Joseph and Grand Island RR., from Seneca to Axtell June., Kan., 10.77 m., are used at a monthly rental of $445.83 and proportion of cost of maintenance. The spur track of The A., T. & S. F. Ry. at Sol- diers' Home is used at a monthly rental of $20.01 and proportion of cost of maintenance. The cost of using Mo. Pac. tracks at Leavenworth is $10 a month rent, and trackage of 60 cents for every loaded train and 25 cents each for empty trains, besides proportion of expenses of hand- ling warehouse freight on basis of total freight handled by both companies, and $1 per car on cars sent to warehouse and team tracks. BALANCE SHEET, Dec. 31, 1902. — Capital stock ($100 shares), $4,016,000; funded debt (1st gold 5s of Jan. 1, 1933 — Series A, $1,032,500 ; Series B. $2,983,000; fractional scrip, $4,232.08), $4,010.- 732.08 — total, representing cost of property, $8,- 026,732.08. The Missouri Pacific Ry. Co. owns the capital stock, the issue of Series B bonds and the frac- tional bond scrip. CORPORATE OFFICERS. — George J. Gould, Pres., New York, N. Y. ; C. G. Warner, Vice- Pres., St. Louis, Mo. ; A. H. Calef, Sec. & Treas., New York, N. Y. Office, Kansas City, Kan. LE ROY AND CANEY VALLEY AIR- LINE RR — L. & C. Vy. June., near Roper, to Peru June., Kan., 51.78 m. ; total track (steel; 60 Ibs.), 54.20 miles. HISTORY. — Chartered June 10, 1885; road opened Jan. 1, 1887. Leased to the Missouri Pa- cific Ry. Co. for 40 years from Oct. 31, 1886, at annual rental of $500 per mile, together with all taxes, maintenance expenses, etc. Rental for 1902, $26,000, which was paid as interest on bonds. BALANCE SHEET, Dec. 31, 1902. — Capital stock paid in ($1,000,000 auth.; $100 shares), $540,000; funded debt (1st 5s of July 1, 1926, auth., $10,000 per mile), $520,000 — total, representing cost, etc., $1,060.000. The bonds are guaranteed by The Missouri Pacific Ry. Co. CORPORATE OFFICERS. — Geo. J. Gould. Pres., New York, N. Y. ; J. H. Richards, Vlce- Pres., Ft. Scott, Kan.; A. H. Calef, Treas., New York, N. Y. ; F. W. Irland, Sec., St. Louis, Mo. Office, Fredonla, Kan. SEDALIA, WARSAW AND SOUTH- WESTERN RY — Sedalia to Warsaw, Mo., 43.23 m. ; total track (steel; 62 to 76 Ibs.), 44.71 miles. HISTORY. — Reorganization, April 7, 1891, of the Sedalia, Warsaw and Southern Ry. Co. (see Manual for 1898, page 562). Operated by the Missouri Pacific Ry. Co., under a lease effective Jan. 1, 1901. ROLLING STOCK. — The company owns 39 cars (2 passenger, 11 box, 16 flat, 8 stock, 1 coal and 1 work). FINANCIAL STATEMENT. — Capital stock, $516,000, representing cost of property. The Mis- souri Pacific Ry. Co. owns the entire capital stock. CORPORATE OFFICERS. — Geo. J. Gould, Pres. ; A. H. Calef, Treas., New York, N. Y. ; F. W. Irland, Sec., St. Louis, Mo. Office, St. Louis, Mo. VERDIGRIS VALLEY, INDEPENDENCE AND WESTERN DIV. (Kansas and Colo- rado Pacific Ry.) — V. V., I. & W. June, to Deering June., Kan., 80.62 m. ; total track, (steel ; 56 to 75 Ibs.), 92.35 miles. The Verdigris Valley. Independence and Western RR. Co. (chartered VI ay 6, 1885 ; road opened Jan. 1, 1887) was on Jan. 1, 1891, consolidated with eleven other com- >anies, forming the Kansas and Colorado Pacific tly. Co., now a proprietary line of the M. P. This division is leased to The Missouri Pacific Ry. o. for 40 years from Sept. 27, 1886, at an annual rental of $500 per mile, with taxes, maintenance, etc. There are outstanding secured upon it $806,000 ($10,000 per mile auth.) 1st gold 5s of March 1, 1926. Railroad Map of Utah, Colorado, Arizona and New Mexico. American Bank Note Company 78 TO 86 TRINITY PLACE NEW YORK [CABLE ADDRESS. "BANKNOTE NEWYORK"] BUSINESS FOUNDED 179B AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD ,}) THEO. H. FREELAND, PRESIDENT 6 WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE COPYRIGHT, 19C8, BY POOR'S RAILROAD MANUAL CO. Poor's Manual— Railroad Map of the United States, 1903. UTAH, COLORADO, ARIZONA AND NEW MEXICO. Railroad Map of Utah, Colorado, Arizona and New Mexico. THE TARIFF: ITS BEARING UPON THE INDUSTRIES AND POLITICS OF THE UNITED STATES. By HENRY V. POOR, Author of "Resumption and the Silver Question," "Money and Its Laws," " History of Railroads," Etc., Etc. Pp. 121. 8vo. Paper. Price, 25 Cents. SYNOPSIS OF .CONTENTS: i. n. in. IV. v. VI. VII. VIII. IX. XI. XII. XIII. XIV. XV. XVI. The Indictment to be Answered. The Tonnage of our Railroads a Measure of Industrial Growth. Railroad Mileage, Tonnage and Earnings. 1366-1890. Effect of Railroad Development upon Prices and Prosperity. The Extraordinary Increase in our Rail- road Tonnage. The Production and Prices of Iron and Steel, 1866-1890. The Effects of the Tariff upon our Iron and other Industries. The Free Trader's Argument Analyzed. Free Trade would Destroy our Balance of Trade. The Advance in the Price of Labor. As Shown by Edward Atkinson. Annual Average .. Export Prices of Domestic Commodities, 1877-90. Annual Average Prices of Grain, Gro- ceries and Provisions, 1877-90. Annual Average Prices of Cotton and Cotton Manufactures, 1877-90. Rates of Wages in Great Britain and the United States as complied by Carroll D. Wright. The "American Colonies and the Mother Country. The First Tariff Act. Mr. Madison's Argument for Protection. Washington's Argument for Protection. Hamilton's Report on Manufactures. The Tariff Act of 1816. John C. Calhoun's Argument for Pro- tection. Thomas Jefferson's Argument for Pro- tection. The Tariff of 1824. Andrew Jackson's Argument for Pro- tection. Slavery Antagonizes Protection. The Attitude of South Carolina in 1824 and 1827. Gene ral Jackson on the Tariff Act of 1828. Mr. Madison Sounds the Alarm. The Tariff of 1833. The South Carolina Nullification. Mr. Clay's Compromise Tariff. Meaning and Effect of Nullification. Jackson's War upon the Bank. The Government Reduced to a Nullity. XVII. The Catastrophe of 1837. XVIII. The Monetary History of the Period. XIX. The Despotism of Slavery Estab- lished. XX. The Principles of the New Democ- racy, Martin Van Buren. XXI. The Democratic Party in 1840. XXII. The Consequences of the Compro- mise Tariff. XXIII. President Tyler. XXIV. President Polk and the Tariff. XXV. Secretary Walker's Report. XXVI. The Fallacies of the Report Exposed. XXVII. English Opinion of the Walker Report. XXVITI. The Tariff of 1846. XXIX. The Discovery of Gold. XXX. The Balance of Trade under the Tariff of 1846. XXXI. The Effects of Free Trade as Shown by Experience. XXXII. Our Monetary Experience under an Adverse Balance of Trade. XXXIII. The Instruments of Destruction. XXXIV. Two Democratic Heresies Aban- doned. XXXV. The Surrender to the South. XXXVI. Mr. Beaton's Review of the Era of Democratic Ascendancy. XXXVII. The Election of 1848. XXXVIII. Franklin Pierce and the Democratic Platform of 1852. XXXIX. James Buchanan and his Platform. XL. The Financial Convulsion of 1857 the Direct Result of Democratic Policy. XLI. The Democratic Disintegration in 1860. XLII. Secession and Rebellion. XLIII. The Tariff of 1857. XLIV. The South Pays her Penalty. XLV. The First Republican Tariff. XLVI. Democratic Tariff Platforms Since the War. XLVII. President Cleveland's Tariff Mes- sages Analyzed. XLVIII. The Democratic Tariff Plank of 1892. XLIX. The Meaning of this Second Declara- tion of Nullification. L. The Supremacy of Law or the Supre- macy of the Mob the Issue before the American People. , 25 OETVTS. Sent postpaid to any address, on receipt of price. POOR'S RAILROAD MANUAL CO. 68 William St., New York City. Or, may be ordered through any bookseller. POOR S MANUAL — THE MISSOURI PACIFIC SYSTEM. 513 16. Board of Directors, The Missouri Pacific Ry. Co., elected March 10, 1903. Oeo. J. Gould. .. New York.N.Y. I Howard Gould.. .New York.N.Y. Russell Sage — " " Frank Jay Gould Edwin Gould James H. Hyde. J.D.Rockefeller.Jr. Samuel Sloan... E. P. Prentice.. Fred T. Gates. C. G. Warner... St. Louis, Mo. Russell Harding.. W. K. Blxby GEORGE J. GOULU, President 195 Broadway, New York, N. Y. Frank Jay Gould, V ice-President .... " " " C. G. Warner, Vice-President St. Louis, Mo. Russell Harding, V 'ice-President and Gen. Manager " " A. C. Bird, V ice-President Chicago, 111. Sec. d Treas. — A. H. Calef New York, N. Y. General Auditor — S. B. Schuyler..St. Louis, Mo. Local Treas. — D. S. H. Smith St. Louis, Mo. General Solicitor — Alexander G. Cocbran, St. Louis, Mo. PRINCIPAL OFFICE AND ADDRESS St. Louis, Mo. 1. Main Line: THE MISSOURI PACIFIC SYSTEM.— THE CENTRAL BRANCH RY. CO. Land Grant Division: Atchison, Kan., to Waterville, Kan. 100.00 miles. West Division: Waterville, Kan., to Lenora, Kan 193.39 Washington Branch: Greenleaf, Kan., to Washington, Kan 7.00 Republican Valley Branch: Yuma, Kan., to Warwick, Kan 30.80 Jewell Branch: Downs, Kan., to Alton, Kan 23.60 South Solomon Branch: Jamestown, Kan., to Burr Oak, Kan 33.40 Total length of railroad, Dec. 31, 1902 388.19 miles. 2d track, 0.80 m.; sidings, 52.19 miles. Gauge, 4 ft. 8y2 in. Rail (steel, 332.13 m.), 52, 56, 60, and 63 Ibs. 2. History. — Incorporated July 7, 1899, as successor to the Central Branch Union Pacific, Atchison, Colorado and Pacific, and Atchison, Jewell County and Western RR. Cos., in pursuance of the plan of reorganization outlined on page 1409 of the MANUAL for 1899. Controlled by The Missouri Pacific Ry. Co., through ownership of the entire capital stock. 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 21. Cars — passenger. 13; baggage, mail, and express, 9; freight (box, 707; flat, 13; stock, 68; coal, 38; caboose, 18), 844; service, 80 — total, 946. 4. Operations, year ending Dec. 31, 1902. — For statistics of train mileage and traffic operations see statement on page 502. Pas* Freig Mail. EARNINGS. enger LAND GRANT Div. $ . 91,024 07 WEBT Div. $ 140,628 84 TOTAL. $ 231,652 91 EXPENSES. Transportation .... LAND GRANT Div. $ . 94,354 98 WEST Div. $ 159,675 91 TOTAL. I 254,030 89 ght . 368,925 29 343,305 20 712,230 49 Motive Power . 116,943 99 164,481 56 281,425 55 17564 94 30775 20 48,340 14 Maint. of Wav 57,714 78 168 835 74 226550 52 11 836 69 11,050 30 22,886 99 Maint. of Cars. 21,831 33 4,678 77 26510 10 70555 79 6 125 97 76681 76 15 843 82 15882 89 31 726 71 Totals 559906 78 531885 51 1,091,792 29 Totals . 306688 90 513 554 87 820 243 77 Totals per Mile. 5,599 07 1,845 61 2,812 52 Totals per Mile. 3,06689 1,782 00 2,112 99 Net earnings (33.16 p. c.), $271,548.52; add track rentals, $7,382.04; sundry re- ceipts, $82.23 — total, $279,012.79. Payments: Interest on bonds, $238,360; taxes, $90,443.12; miscellaneous payments, $514.54 — total, $329,317.66. Deficit, $50,304.87; appropriation account of improvements, $26,098.34 — total, $76,403.21. Surplus to Dec. 31, 1901, $123,054.11; add amount refunded account of appliances for box cars, charged in account during 1901, $7,750 — total, $130,804.11. Surplus Dec. 31, 1902, $54,400.90. 5. General Balance Sheet, December 31, 1902. Capital Stock ($100 shares) $7,585,00000 Funded Debt (see below) 6,959,00000 Cost of Road and Equipment $13,544,000 00 Real Est. ($988.02) and Lands Purch'd. 25,666 76 Investments 1,00100 Sundry Accts. Collectible (U.S.Gov.). 32,467 39 Due from the Mo. Pac. Ry. Co. (Cur- rent Account) 65.22908 Total Assets $13.668,36423 Interest Due and Uncalled for. Interest Accrued, but not Due. . Profit and Loss 3,980 00 65,983 33 54,400 90 Total Liabilities $13,668,364 23 514 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 6. Funded Debt. — The funded debt outstanding on Dec. 31, 1902, consisted of $2,500,000 C. B. U. P. Ry. 1st gold 4s of June 30, 1948, secured on the line from Atchison to Waterville, Kan., 100 miles ; and $3,459,000 C. B. Ry. 1st gold 4.s of Feb. 1, 1919, secured on the lines west of Waterville, Kan., 288.19 miles. The C. B. Ry. bonds (1st 4s of 1919) are guaranteed by the Mis- souri Pacific Ry. Co., both as to principal and interest, the guaranty being endorsed upon the bonds. 7. Directors (elected March 17, 1903).— C. G. Warner, St. Louis, Mo.; B. P. Wag- gener, Jas. W. Orr, C. M. Rathburn, Atchison, Kan.; Lawrence Greer, H. B. Henson, C. E. Satterlee, New York, N. Y. C. G. WARNER, President St. Louis, Mo. H. B. Henson, V ice-President New York, N. Y. Sec. & Trcas. — A. H. Calef New York, N. Y. I Asst. Sec. & Asst. Treas. — D. S. H. Smith, | St. Louis, Mo. PRINCIPAL OFFICES St. Louis, Mo., and Atchison, Kan. THE MISSOURI PACIFIC SYSTEM.— ST. LOUIS, IRON MOUNTAIN AND SOUTHERN RY. CO. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 8 Detailed Inc. & Surplus Acct. 4a Directors and Officers 14 Earnings, Expenses, etc 4 Funded Debt, Details of 9 Gen. Bal. Sheet, Dec. 31, 1902. 6 Gen. Inc. Acct., Dec. 31, 1902. 4 History 2 Investments, Statement of . . 7 Iron Mtn. Car Trust, Dec. 31, 1902 12 Land Department 11 Leased Lines, Statement of. 13 Mileage Operated 1 Operations, 1901-1902..... 4 Resources and their Applica- tion 5 River & Gulf Div. Mtge 9a Rolling Stock 3 Securities Deposited with Trustee, Covered by Uni- fying and Refund. Mtge. . , 10 1. Mileage Operated, Dec. 31, 1902.— A. LINES OWNED (total, 1,092.85 miles). Main Line: St. Louis, Mo., to Texarkana, Ark 490.19 miles. Fourth Street Spur: H. B. Connection to 4th St. Depot, St. Louis, Mo 0.30 ' Kirkwood Branch Connection: K. B. Conn, to Carondelet, Mo 0.39 " Potosi Branch: Mineral Point to Potosi, Mo 3.72 " Belmont Branch: Bismarck to Belmont, Mo 120.30 " Jackson Branch: Allenville to Jackson, Mo 16.31 Cairo Branch : Poplar Bluff to Birds Point, Mo 70.77 Doniphan Branch : Neeleyville to Doniphan, Mo 20.50 ' Helena Branch : Knobel to Helena, Ark 140.14 White River Branch : Diaz to Cushmans, Ark 39.39 " Memphis Branch: Bald Knob, Ark., to Memphis Bridge 88.94 Camden Branch: Gurdon to Camden, Ark 33.65 Fort Smith Branch: State Line to Greenwood, Ark 17.63 Kiver Track: E. Conn, to Union Depot, Little Rock, Ark 1.22 Ouachita Branch : Trippe Junction to Warren, Ark 49.40 B. PROPRIETARY ROADS — ENTIRE STOCK OWNED (total, 336.01 miles). Camden and Alexandria Ry.: Camden to Eldorado, Ark 32.48 Little Rock, Miss. River t€ Texas Ry.: Little Rock to Arkansas City, Ark. . 113.05 Houston, Central Ark. d No. RR.: McGehee Jc., Ark., to T. & P. Ry. Jc., La. 190.48 C. LINES LEASED FOR SPECIFIC RENTALS (total, 341.17 miles). Kansas and Arkansas Valley Ry. (see appended statement, Sec. 14) 170.64 Little Rock and Fort Smith Ry. (see appended statement. Sec. 14) 168.87 Little Rock Junction Ry.: Argenta Junction to E. Little Rock, Ark 0.59 Iron Mountain RR. of Memphis: Memphis, Tenn 1.07 D. TRACKAGE RIGHTS (total, 3.74 miles). Memphis Bridge and Approaches 2.17 Texas and Pacific Ry.: T. & P. Ry. Junction to Alexandria, La 0.18 Van Buren Bridge: St. L. & S. T. June, to Van Buren June., Ark 1.39 Total length of lines operated, Dec. 31, 1902 1,773.77 miles. 2d track, 10.27 m. ; sidings (owned and proprietary, 472.58 m. ; leased and trackage, 83.38 m.), 555.96 miles. Gauge, 4 ft. 8% in. Rail (steel, owned, 1,910.35 m.; leased, 422.44 m.), 52 to 76 Ibs. POOR S MANUAL — THE MISSOURI PACIFIC SYSTEM. 515 2. History. — Consolidation, May 6, 1874, of the St. Louis and Iron Mountain RR. Co., the Arkansas Branch RR. Co., the Cairo and Fulton RR. Co. and the Cairo, Arkansas and Texas RR. Co. (See MANUAL for 1899, page 806.) The proprietary- roads are practically owned by the company, and are fully incorporated with its rail- road. The company owns all the securities of the Kansas and Arkansas Valley Ry. Co., 99.7 p. c. of the capital stock of the Little Rock and Fort Smith Ry. Co., and 89J4 p. c. of the capital stock of the Little Rock Junction Ry. Co. The securities of the Iron Mountain RR. Co. of Memphis are owned by The Missouri Pacific Ry. Co. River and Gulf Divisions. — After the close of the fiscal year the company absorbed the St. Louis Valley Ry. Co., the White River Ry. Co., the Memphis, Helena and Louisiana Ry. Co., and the Memphis, Helena and Louisiana RR. Co. The St. Louis Valley Ry. Co. (see MANI-AI. for 1902, page 1515) owned a railroad from East St. Louis to Thebes, 111., from Fordyce, 111., to the Big Muddy Coal Fields and two short branches in St. Clair County, 111., a total of 152.2 miles of road, besides terminal and ferry properties at St. Louis, East St. Louis and Thebes. The White River Ry. is under construction from Batesville, Ark., to Carthage, Mo., a distance of 248 miles; and the Memphis, Helena and Louisiana roads are under construction from West Memphis, Ark., to Clayton, La., a distance of 274 miles. This company purposes to construct an extension of the White River line from Batesville to West Memphis, and to build connecting links between the St. Louis Valley line and the Memphis, Helena and Louisiana roads. To pay for the lines acquired, and to provide for the construction or acquisition of extensions and branches, and for betterments, equipment, etc., a mortgage has been executed to secure an aggregate of $50,000,000 bonds secured by first mortgage on the properties acquired or to be acquired with their proceeds (see Sec. 9a). Upon the completion of the work now in progress or in contemplation a new and short line will be formed from St. Louis, along the east side of the Mississippi River, to the bridge now being built at Thebes, 111., and on the west side of the river, via West Memphis, to a connection with the Texas and Pacific Ry. at Clayton, La.; and a diagonal line will be formed from West Memphis, via the White River Valley, to a connection with the Missouri Pacific Ry. at Carthage, Mo. The former will shorten the distance between St. Louis and New Orleans and the latter the distance between Kansas City and Memphis. The St. L., I. M. & S. Ry. Co. owns more than 99.9 p. c. of the capital stock and all the bonds of the Arkansas and Louisiana Ry. Co., more than 99 p. c. of the capital stock of the Arkansas Midland RR. Co., all the capital stock of the Little Rock, Hot Springs and Western RR. Co., all the capital stock and all the bonds of the Mississippi River, Hamburg and Western Ry. Co., and about 93 p. c. of the capital stock and 80 p. c. of the bonds of the New Orleans and Northwestern Ry. Co. The properties of those companies are operated separately by their own organizations, and separate state- ments for them will be found elsewhere in the MANUAL (see GENERAL INDEX). 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 327. Cars— passenger, 65; bag- gage, mail, and express, 86; freight (box, 6,438; flat, 1,396; stock, 1,232; coal, 1,431; ore, 62; granite, 56; refrigerator, 299; furniture, 999; caboose, 176), 12,089; service, 1,425 — total, 13,665. Of this equipment, 186 locomotives, 34 passenger train cars, 9,730 freight cars, and 409 service cars are held under car trust (see details in Sec. 9). 4. Operations, year ending Dec. 31, 1902. — For statistics of train mileage and traffic operations, see page 502. EARNINGS. Passenger Freight 13.104,756 46 Mail... 475.42092 Express 398,34538 Miscellaneous 386,367 19 1901 1902 $2.596,131 02 $2,659,101 05 13,650,349 80 495,077 16 420,859 31 414,591 03 Totals $16,961.020 97 $17,640,578 44 TotalsperMUe 9.56213 9.94525 1901 1902 $4,050,272 61 $4,507,093 39 EXPENSES. Conducting Transportation Motive Power 2.990.655 44 3,339,078 81 Maintenance of Way 1,853, 145 53 1,934,029 88 Maintenance of Cars 744.721 53 814.912 76 General Expenses 377,278 02 411.143 40 Totals $10,010.073 13 $11,006.258 24 TotalsperMUe 5.64677 6,20501 616 POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Net earnings, 1902 (37.61 p. c.), $6,634,320.20; add receipts from interest and dividends, $1,257,678.93; sundries, $16,928.17 — total, $7,908,927.30. Deductions: Interest on bonds, $3,170,530.85; taxes, $332,568.94; rentals of leased roads, $210,495; sundry charges, $393,527.37; dividend paid (6 p. c.), $2,578,831.50— total, $6,685,953.66. Sur- plus, $1,222,973.64. 4ft. Detailed Income and Surplus Net Earnings brought down . . . DIVIDENDS RECEIVED: Amer. Ref rig. Transit Co I. M. Car Trust Certificates .. Int. on Gen. Con. Ry.AL'd Gr. Mtge. Bds. held in Tr. . . Int. on 1st. Mtge. Bds. Ark. & Louis. Ry. held in Treasury Int. on 2d Mtge. In. Bonds, Texas & Pacific Ry., held in Treasury 1,113,80000 Int. on 1st Mtge. Bds. So. Illinois & Mo. Bridge Co. . . The Missouri Pac. Ry. Co St. Louis & Miss. V. Trans.Co Capital Stock and BondsArk. 4 La. Ry Capital Stock 4 Bds. Miss.Rv. Hamburg 4 West Ry. Cap. Stock Ark. Midland RR.. Capital Stock New Orleans 4 Northwestern RR Sundry Amounts: Unclaimed Wages, Coupons, etc Account, year ending December 31, 1903. $ ACCRUED INTEREST ox BONDS: $ $ 6,634,320 20 Gen. Con. Ry.4Land Gr. M. . 2,166,537 50 1st Preferred Income 2,653 35 35,051 55 Unifying 4 Refunding Four 240 00 PerCent. Gold 1,001,340 00— 3,170,530 85 Taxes: 2,10000 Prior to 1902 209,21810 ForYearl902 123,35084— 332,56894 9,600 00 Rentals, Acct. Leased Roads : Little Rock Junction Ry .... 26,520 00 Little Rock 4 Ft. Smith Ry.. . 163,975 00 Iron M. RR. of Memphis .... 20,000 00— 210,495 00 Sundry Amounts: 800 00 U. S. Gov. Deductions ac- 75 00 count Land Grant 3,662 44 2,098 60 Interest and Exchange 18,827 14 Discount and Premium 107,764 08 10,611 48 Statistical Expense Account.. 6,241 58 Baring Cross Bridge Exp 51,700 00 30,387 37 Car Trust Expenses 178,485 00 31,891 15 SubscriptionstoY.M.C.A.b'K 13,000 00 Statutory Fees paid ace. in- 21,023 78— 1,257,678 93 crease in Cap. Stk., Ark ... 25 00 Depreciation in Invest, in Cap Stk., St. L. Exposition and 16,928 17 Music Hall Association. . . . 5,000 00 Balance Deficit White Rv.Ry. at Dec. 31st, 1902 8,822 13— 393,527 37 Surplus Applicable to Divi- dend for Year 1902 3,801,805 14 Surplus Applicable to Dividend for Year 1902. . . Net Surplus for Year 1902 Balance of Income Account Jan- uary Irt, 1902 7,908,927 30 3,801,805 14 3,801,805 14 1,222,973 64 5,128,261 33 Dividend No. 8, Paid: Amount paid on Cap. Stk. ex- changed for Cap. Stk. of The Miss. Pac. Ry. Co Amount paid on Capital Stock held by others Net Surplus for Year 1902. . . . Appropriation for Improveai'ts to Independent Properties for Year 1902 Appropriation for Additional Property, 4 Imp. to Road 4 Equipment, Year 1902 Appropriation to pay in part. Improvements to Road and Equipment, Year 1903 ...... Balance to Credit of Income Ac- count, Dec. 31st, 1902 7,908,927 30 2,573,379 00 5,452 50— 2,578,831 50 1,222,973 64 3,801,805 14 16,761 05 023,665 21 500,000 00 5.210,808 71 6,351,234 97 6,351,234 97 6. Statement showing resources of the St. Louis, Iron Mountain and Southern Ry., and their application, year ending Dec. 31, 1902: Resources. Net earnings as per Income Account $6,634,320 20 Miscellaneous Credits to Income Account : Dividends received, $1,257,678.93 ; Sundry amounts, $16,928.17 — total 1,274,607 10 Increase in Liabilities During Year 1902 : Unifying and Refunding Mortgage Bonds, $1,531,000 ; Interest Accrued, not Due, $28,807.50 ; Accrued Rentals, Guaran- teed, $147.50 ; Due to Sundry Railroads and Individuals, $37,624.56 ; Car Trust Obligations, $1,088,000 ; Improvement Fund, 1903, $500,000 ; The Missouri Pa- cific Railway Co., Current Account, $4,872,625.89 — total 8,058,205 45 Decrease in Assets During Year 1902: Value of Lands in Arkansas (account sales), $161,787.07; Value of Lands In Missouri (account sales), $10,864.29; Due from Sundry Railroads and Individuals, $3,357.20 ; Arkansas Land Grant Ac- counts, $35,805.61 ; Due from Little Rock & Fort Smith Ry. Co., $544.43 — total. 212,358 60 Total $16,179,49135 Application of Resources. Miscellaneous Charges to Income Account : Interest paid on Bonds, $3,170,530.85 ; Taxes, $332,568.94 ; Rentals, account Leased Lines, $210,495 ; Sundry Amount*, POOR'S MANUAL — THE MISSOURI PACIFIC SYSTEM. 617 $393,527.37 ; Appropriation for Improvements to Independent Properties, $16,- 761.05 ; Appropriation for Additional Property, and Improvements to Road and Equipment, Year 1902, $623,665.21 ; Appropriation to pay in part Improve- ments to Road and Equipment, Year 1903, $500,000 ; Dividends Paid, $2,578,- 831.50 — total $7,826,379 92 Increase in Assets During Year 1902 : Additions to Property, as per statement, $2,982,467.83 ; Expenditures Account Construction and Projected Lines, $3,390,714.29 ; Investments, $796,224.62 ; Cash, $129,150.40 ; Bills Receivable, $1,750; Missouri Land Grant Accounts, $1,238.21 — total 7,301,545 35 Decrease in Liabilities During Year 1902 : General Consolidated Railway and Land Grant Mortgage Bonds, $145,000 ; Interest due, not called for, $13,990 ; Bills Payable, $142,576.08; Improvement Fund, 1902, $750,000 — total 1,051,56608 Total .$16,179,491 35 6. General Balance Sheet, December 31, 1902. Cost of Road, Equipment, etc . . United States Land Grants: Value of Lands in Arkansas. . Value of Lands in Missouri.. . . Inv'tmenta in Stocks A Bonds.. . Expenditures Acct. Surveys A Construction Projected Lines Arkansas Land Grant Accounts: Arkansas Trust Land Notes.. . Taxes Due from Purchasers . . G. A. A. Deane, Land Com- missioner Cash in hands of Mercantile Trust Company. Missouri Land Grant Accounts: Missouri Land Grant Notes. . . Taxes Due from Purchasers. .. Cash: In hands of Treasurer Sundry Accounts Collectible: Bills Receivable Due from Sundry Railroads ft Individuals Amounts Due: From Little Rock Jet. Ry . . . From Little Rock A Ft.Smith Ry 75,172,495 35 1,098.658 33 1,751 64— 1,100,409 97 28,698,363 77 3,709,000 41 180,271 96 628 55 20,900 58 17,067 86— 218,868 95 4,839 54 143 59— 1,750 00 ' 14,065 99- 4,983 13 680,016 64 15,815 99 5,376 15 325,545 11— 330,921 26 109,930,875 47 Capital Stock: St. Louis, Iron Mountain & Southern Ry St. Louis A Iron Mt. UR Cairo, Arkansas & Texas RR. Cairo 4 Fulton RR Funded Debt: Funded Debt General Consolidated Ry.and Land Grant Mortgage Bond Scrip Car Trust Obligations Interest Due and Accrued : Due and uncalled for Accrued but not due Accrued Rentals Guaranteed: Little Rock Junction Ry .... Little Rock A Ft. Smith Ry.. . Accounts Payable: Notes Payable, as p. statem't. Due to Sundry Railroad Com- panies A Individuals Improvement Fund, 1903 Due to The Missouri Pacific Ry. Co Balance of Income Account De- cember 31, 1902 25,788,435 00 500 00 125 00 6,650 00—25,795,710 00 69,026,115 00 882 36-69.026,997 36 2,829,000 00 20,443 15 1.057,948 35— 1,078,391 50 6.55500 84,862 05— 91,417 05 125,942 20 46,271 63— 172.213 83 500.00000 5,226,337 02 5,210,808 71 109,930,875 47 7. Statement showing investments in stocks, bonds, etc., Dec. 31, 1902: Securities Owned by the Company. A — Deposited as security for unifying and refunding bonds (for details see Sec. 10).. $41, 058, 300 00 B — Deposited as security for general consolidated and refunding railway and land grant bonds (total cost to company, $666,464.87) : Capital Stock — Arkansas Midland RR. Co 1,490,700 00 Brinkley, Helena and Indian Bay RR 124,875 00 C — Held in the company's treasury ( total par, $4,478,362.36 ; cost to company, $1,255,095.27) : Capital Stock — Little Rock and Fort Smith Ry. Co .' 11,200 00 Little Rock Junction Ry. Co 800 00 Little Rock, Mississippi River and Texas Ry. Co 1,576,200 00 Camden and Alexandria Ry. Co 324,800 00 The Missouri Pacific Ry. Co 1,500 00 Arkansas and Louisiana Ry. Co 300 00 Texas and Pacific Ry. Co 680,000 00 Exposition and Music Hall Association 5,000 00 Woodson Transportation Co 13,000 00 American Refrigerator Transit Co 200 00 Little Rock and Hot Springs Western RR. Co 1,140,000 00 Southern Illinois and Missouri Bridge Co 10,000 00 Mississippi River, Hamburg and Western Ry. Co 700 00 New Orleans and Northwestern Ry. Co 900 00 Securities with E. G. Merriam, Trustee 250,000 00 White River Ry. Co 248,000 00 1st Mtge. Bonds — Southern Illinois and Missouri Bridge Co 60,000 00 Arkansas and Louisiana Ry. Co. (unissued) 144,000 00 Bonds — St. L., I. M. & S. Ry. gen. con. railway and land grant bonds 7,000 00 Scrip — St. L., I. M. & S. Ry. gen. con. railway and land grant 762 36 Car Trust Certificates — Iron Mountain Car Trust 4,000 00 Securities Controlling Use of Joint Facilities Capital stock. Terminal RR. Association of St. Louis 205.600 00 Total par value $47,357,837 36 Total cost to company 28.673,823 66 8. Capital Stock. — The authorized capital stock amounts to $80,000,000, In $100 shares. The Missouri Pacific Ry. Co. owns $25,733,790 of the outstanding capital stock. 518 POORS MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 9. Funded Debt. — The funded debt outstanding on Dec. 31, 1902 — total, $69,026,115, as per general balance sheet — consisted of the following issues (additional particulars will be found in the Ready Reference Bond List — see General Index) : f 43,262,OOO gen.consol. railway and land grant gold 5s of April 1, 1931, secured as a direct first lien on all the property and franchises of the company. Additionally secured by deposit of the capital stock of the Arkansas Midland RR. Co. owned by this company (see Sec. 9). Bonds num- bered from 11,001 to 18,000, inclusive, are guar- anteed by the Missouri Pacific Ry. Co., both as to principal and interest, the guaranty being in- dorsed on the bonds. 937,905 Isf preferred income cumulative gold 7s of April 1, 1911. ?25,72(>,OOO unifying and refunding gold 4s of July 1, 1929, secured on the entire property and assets of the company, whether now owned or acquired hereafter by issue of bonds secured by the same mortgage, but subject to the lien of the general consolidated railway and land grant mortgage on the property and franchises covered by that mortgage. There are deposited with the trustee of the mortgage as additional security for the bonds issued thereunder securities of other companies to the amount of $41,058,300, as shown in detail in Sec. 10. The amount of bonds authorized in the mortgage is $40,000,000. The $14,274,000 of bonds unissued on Dec. 31, 1902, were reserved for the following purposes : $1,771,000 for the acquisition (at the rate of $650 for every $1,000) of the outstanding 2d mtge. bonds of the Texas and Pacific Ry. ; $4,500,000 for the acqui- sition of $2,342,500 1st mtge. bonds and $3,020 coupon scrip of the Little Rock and Fort Smith Ry., $435,000 1st consol. mtge. bonds of the Little Rock Junction Ry., $200,000 1st mtge. bonds of the Baring Cross Bridge Co. and $558,000 of Iron Mountain car trust certificates ; and $8,003,000 for the construction or acquisition of extensions, this lot to be issued at not exceeding the rate of $12,000 per mile of such extensions. J)a. River and Gulf Divisions First Mortgage. — To pay for the properties acquired from the St. Louis Valley Ry. Co., White River Ry. Co., Memphis, Helena and Louisiana Ry. Co., and Memphis, Helena and Louisiana RR. Co., and to provide the means for completing and develop- ing those properties, so as to form a system from St. Louis along the Mississippi River to a connec- tion with the Texas and Pacific System at Clayton, La., and from Memphis to a connection with the Missouri Pacific System at Carthage, Mo., the company executed a mortgage in favor of the Mercan- tile Trust Co. of New York, N. Y., and William K. Bixby, of St. Louis, Mo., as trustees to secure an issue of bonds to the amount of $50,000,000. The mortgage covers the properties acquired or to be acquired with their proceeds, as well as the entire issue of 1st mortgage bonds of the Union Ry. Co. of Memphis, Tenn., and of the Western Coal and Mining Co. of Missouri. The bonds are dated May 1, 1903, and will mature on May 1, 1933. Interest is at the rate of 4 p. c. per annum, payable on May 1 and Nov. 1. Principal and interest are payable in gold, free of all taxes, at the office or agency of the company in the city of New York. The bonds are in coupon form for $1,000 each, or in regis- tered form for $1,000 or multiples of $1,000. Coupon bonds may be registered as to principal alone, or they may be exchanged for fully registered bonds ; and registered bonds also may be exchanged for coupon bonds. The bonds were authorized to be issued for the following purposes : $1,000,000 for the acquisition of $1,000,000 1st mtge. bonds of the Union Ry. Co. of Memphis, of which $148,000 have been already acquired and $852,000 are to be acquired as soon as they are issued ; $7,200,000 in payment for the properties acquired from the St. Louis Valley Ry. Co. ; $15,700,000 in payment for, and to provide for the completion of, the White River Ry., Memphis, Helena and Louisiana Ry., and Memphis, Helena and Louisiana RR., this lot to be issued at not exceeding the rate of $30,000 per mile of main track ; $2,175,000 for double tracking the railroad acquired from the St. Louis Valley Ry Co., at a cost not to exceed $15,000 per mile ; $2,500,000 for the acquisition of additional terminal and ferry properties at St. Louis, East St. Louis and Thebes ; $4,500,000 together with any surplus bonds of the $15,700,000 and $2,175,000 lots, to extend, develop and equip the railroads covered by the mortgage ; $5,675,000 for the construction or acquisition of connecting lines between the Memphis, Helena and Louisiana Ry. and the St. Louis Valley Ry. and between West Memphis and Batesville, Ark. ; and $11,250,000, together with any surplus of the $5,675,000 lot, for the construction or acquisition of branches and extensions, this lot being issuable at not exceeding the rate of $30,000 per mile of main line and not exceeding $15,000 per mile of branches. Up to June 30, 1903, $20,000,000 of the bonds had been sold and the proceeds appropriated to various purposes stated above. 1O. Securities Deposited Under Unifying: and Refunding Mortgage. — Exhibit of Investments in Capital Stock and Bonds owned by the St. Louis, Iron Mountain and Southern Ry. Co., and Deposited with Trustee, covered by Unifying and Refunding Mortgage of the St. Louis, Iron Mountain and Southern Ry., Dividends and Interest on which accrue to the St. Louis, Iron Mountain & Southern Ry. Co. CAPITAL STOCK AND BONDS. Date of Bond. Maturity of Bond. No. of Shares or Bonds. Par Value. Coupon Notes Little Rock & Ft Smith Ry Co $ 21,000 00 1,705,400 00 4,481,400 00 350,200 00 511,400 00 285,100 00 1.400 00 399,300 00 1,499,100 00 400.000 00 3T>.000 00 3.412,000 00 240,000 00 5.435.000 00 22.276,000 00 $41.058,300 00 26.752,263 52 17.054 44,814 3,562 5,114 2,851 14 3,993 14,991 400 35 3,412 240 5,435 22,276 Little Rock & Fort Smith Rv. Co Arkansas & Louisiana Rv. Co St. Louis & Mississippi Valley Transp. Co Mississippi River, Hamburg & \\ estern Rv. Co. New Orleans & Northwestern RR. Co Bonds, 1st Mtge., Mississippi River, Hamburg & Western Ry.Co. Bonds General Consolidated St I. I M & So Ry Nov. 1,1897 Moli. 15, 1881 July 1, 1887 July 1, 1883 Julv 1889 Feb. 1, 1888 Nov. 1,1917 April 1,1931 July 1, 1937 July 1, 1913 Julv l'.n:i Dec. 1,2000 Bonds, Six Per Cent Debenture "B '•' \Vabash RR Bonds, 2d Mtge Income Texas and Pacific Ry Co Total Cost to Companv I POOR S MANUAL THE MISSOURI PACIFIC SYSTEM. 519 11. Land Department, partmcnt, all divisions, during mencement : -The following table exhibits the business of the land de- the year ending Dec. 31, 1!)02, and since the date of com- ST.LOUIB.IRON MOUNTAIN & SOUTHERN RT. Little Rock and Fort Smith Ry- Grand ToUL Missouri Division. Arkansas Division. Number of Acres Originally Granted Purchased etc 142.355.17 7,567.572 1,360,667.58 420,148.466 2,494.612 1,059,846.01 458,190.55 9.645.25 2.562,868.78 885,906.588 12,139.862 Number of Acres Unsold, December 31, 1901 Numl>er of Acres Acquired bv Forfeitures in 1902 Total Number of Acres for S;'le during 1902 7.567.572 2,712.540 4,855.032 I 6 76+ 18,341 74 11.675 80 2,293 55 422.fi43.078 56.423.034 366,219.444 $ 3 10+ 175,121 98 218,831 84 20,877 47 467,835.80 22,828.78 445,007.02 1 3 41 + 78,093 92 115,675 17 35,694 76 898,046.450 81,964.954 816.asi.496 $ 3 31+ 271,557 64 346,182 81 58,865 78 Number of Acres sold during 1902 Number of Acres Unsold December 31, 1902 • Average Price |x?r Acre during 1902 Total Amount of Sales during 1902 Cash Received during 1902 Notes Received during 1902 Total Receipts during 1902 13,969 35 2,547 25 432,764 46 151,597 20 239,709 31 48,465 75 3,654,218 65 1,785,020 96 151,369 93 31,465 72 2,800,823 88 1,309,468 77 405,048 59 82.478 72 6,887,806 99 3.246,086 93 Expenses and Taxes during 1902 Grogs Receipts of Department since Commencement Gross Expenses and Taxes of Department since Commencement .... i Net Receipts of Department since Commencement 281,167 26 4,839 54 143 59 1,869.197 69 180,271 96 628 55 1,491,355 11 130,082 17 4,420 87 3,641,720 06 315.193 67 5,193 01 Notes Receivable Outstanding December 31 1902 Taxes Due from Purchasers, Outstanding December 31, 1902 152. Statement showing the condition of 1902: the Iron Mountain Car Trust on Dec. 31, B 1 B 2 C D E 1 E 2 F G H 1 H 2 K 1 K 2 L 1 L2 M Date. July 6.1880 Nov. 23. 1880 June 14, 1881 Aug. 23, 1881 June 4, 1889 Nov. 21, 1889 Jan. 23,1890 Dec. 2.1891 Mch. 1,1892 Original Amount. 690,00000 148,000 00 552,000 00 211,260 00 837,500 00 109,800 00 170,000 00 122,800 00 1,407,100 00 Amount Paid. Sept. 1. 1892 264,000 00 Oct. 30. 1895' 83.250 00 Dec. 26, 1900 1,256,262 05 Feb. 1. 1901 700,880 00 Dec. 20, 1901 1,192,400 00 Apr. 23, 1002 442,175 00; Aug. 6, 1902 148,200 00 690,00000 148,00000 552,000 00 211,260 00 837.500 00 109,800 00 170,000 00 122,800 00 1,407,100 00 264,000 00 59,250 00 381,262 05 210,880 00 238,400 00 90,175 00 14,200 00 Amount Out- standing. Date of Yearly Pay- ments. 24,000 00 Sept. 1 875,000 00 June 490,000 00 June 1 954,000 00 Dec. 1 352,000 00, Dec. 1 134.000 00 Sept. 8,335,627 05 5,506,627 05; 2,829,000 00 EQUIPMENT COVERED BT CAR TRUST. 450 Box. 250 Stock, 200 Platform and 8 Passenger Cart, and 14 Locomotives. 200 Ore and 4 Passenger Cars, and 5 Locomotives. 492 Box and 100 Refrigerator Cars, and 11 Locomotives. 308 Box and 6 Baggage Cars. 1,500 Box Cars and 25 Locomotives. 200 Furniture Cars. 200 Refrigerator Cars. 200 Furniture Cars. 1,000 Box, 500 Coal and 500 Stock Cars, and 30 Loco- motives. 500 Box Cars. 10 Locomotives. 1 5 Cabooses, 2 Steam Shovels, 2 Lidgerwood Unloaders, 500 Flat, 250 Furniture and 500 Coal Cars, and 36 Locomotives. 1,000 Box Care. 380 Furniture, 250 Ballast Cars and 52 locomotives. 500 Stock and 150 Ballast Cars. 1 8 Bag., 5 Combination and 3 Postal Cars and 3 Loco*. NOTE. — Series A to HI Inclusive are paid up and cancelled. The amounts outstanding on the remaining series are payable as follows : Series H2 — Three annual payments on Sept. 1st of each year. 1903 to 1905, $8,000 each; total $24,00000 Series Kl — Seven annual payments on June 1st of each year, 1903 to 1909 inclusive, $125,000 each ; total $875,000 00 Series K2 — Seven annual payments on June 1st of each year, 1903 to 1909 inclusive, $70,000 each ; total 490,000 00 — 1,365,000 00 Series LI — Six annual payments on Dec. 1st of each year, 1903 to 1908 inclusive. $119,000 each : total 714,000 00 Series LI — Two annual payments on Dec. 1st of each year, 1909 to 1910 inclusive, $120,000 each ; total 240,000 00 Series L2 — Eight annual payments on Dec. 1st of each year, 1903 to 1910 inclusive, $44,000 each ; total 352,000 00 — 1,306.000 00 Series M — Eight annual payments on Sept. 1st of each year, 1903 to 1910 inclusive, $15,000 each; total 120.00000 Series M — One annual payment on Sept. 1st, 1911 14,000 00 — 134,000 00 Total amount outstanding Dec. 31st, 1902 $2,829,00000 520 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 13. RAILROADS LEASED BY THE ST. Louis, IRON MOUNTAIN AND SOUTHERN RT. Co. TOON MOUNTAIN RR. OP MEMPHIS. — East Connection of Memphis Bridge to Memphis, 0.49 m., and to K. C., F. S. & M. Connection, 0.58 m. — total, 1.07 m. ; total track (steel, 1.07 m.), 8.79 miles. Rail, 56 and 60 Ibs. HISTORY. — Chartered Aug. 31, 1886; road opened in May, 1888. Operated under lease since date of completion by St. L., I. M. & S. Ry. Co. ; rental, interest on bonds. FINANCIAL STATEMENT. — Capital stock, $700; funded debt (1st 6s of Nov. 10, 1908), $500,- 000 — total, representing cost of road, $500,700. Both the stock and the bonds are owned by the Missouri Pacific Ry. Co. CORPORATE OFFICERS. — George J. Gould, Pres., New York, N. Y. ; F. W. Irland, Sec. & Treas., St. Louis, Mo. OfBce, Memphis, Tenn. KANSAS AND ARKANSAS VALLEY RY. — Coffeyville to Van Buren June., Ark., 164.63 m. ; Western Connection, Coffeyville, Kan., 0.20 m. ; Cherokee June., Ind. T., to Ft. Smith Branch Con- nection, Ark. State Line, 5.49 m. ; Eastern Con- nection, Cherokee June., 0.18 m. ; connection, L. R. & F. S. Ry., 0.14 m. — total, 170.64 m. ; total track (steel; 56, 60 and 63 Ibs.), 198.85 miles. HISTORY. — Chartered under laws of Arkan- sas, Nov. 27, 1885. Construction begun in 1887 and road ppened to Wagoner, Ind. T., Aug. 13, 1888 ; to Coffeyville, Kan., Nov. 21, 1889. Leased to the St. L., I. M. & So. Ry. Co. for 50 years from Jan. 1, 1890 ; rental, interest on bonds. FINANCIAL STATEMENT. — Capital stock, $1,706,400; funded debt (1st 5s of Jan. 1, 1937), $3,412,000^total, representing cost of road and equipment, $5,118,400. The St. L., I. M. & S. Ry. Co. owns all the bonds and practically all of the capital stock. CORPORATE OFFICERS.— George J. Gould, Pres., New York, N. Y. ; C. G. Warner, Vice- Pres., St. Louis, Mo. ; A. H. Calef, Sec. & Treas., New York, N. Y. ; Francis Johnson, Asst. Sec. & Asst. Treas., Little Rock, Ark. OfBce, Little Rock, Ark. LITTLE ROCK AND FORT SMITH RY. — Argenta June, to Fort Smith, Ark., 163.19 m. ; Coal Hill June., to Lloyds, Ark., 5.26 m. ; Onita June., Ark., to coal mines, 0.42 m. ; Van Buren Bridge, 1.39 m. — total, 170.26 m. ; total track (steel; 52 to 63 Ibs.), 210.52 miles. HISTORY. — The Little Rock and Fort Smith RR. was sold in Dec., 1874, and the company re- organized under present title, June 12, 1875. Road completed in 1876. Leased for fifty years from Jan. 1, 1890, to the St. Louis, Iron Mountain and So. Ry. Co. ; rental, interest on bonds. For re- turns of land department, see Sec. 11 of lessee's statement. ROLLING STOCK. — Locomotives, 9. Cars — passenger, 9 ; coach and baggage, 1 ; baggage, 1 ; baggage and mail, 2; freight (box, 78; stock, 13; coal, 43; flat, 30; granite, 22), 186; cinder, 5; service, 84 — total, 288. General Balance Sheet, December 31, 1902. Capital Stock ($100 shares) ............ $4,505,30858 1st Mtge. Bonds and Scrip ........... 2,365,16225 Unfunded Debt ....................... 411,44466 Profit and Loss ....................... 753,34777 Total Liabilities ................. $8,035,26326 • Construction, Equipment, etc .......... $7,678,14688 Stocks and Bonds ..................... 117,87382 Cash and all Other Assets ............ 239,24256 Total Assets $8,035,26326 Funded debt outstanding consists of $2,342,500 (auth., $3,000,000) 1st 7s of Jan. 1, 1905, and $227.25 of fractional scrip. The St. L., I. M. & S. Ry. Co. owns $4,492.600 of the capital stock. CORPORATE OFFICERS. — George J. Gould. Pres., New York, N. Y. ; C. G. Warner, Vice- Pres., St. Louis, Mo. ; A. H. Calef, Sec. & Treas., New York, N. Y. ; Francis Johnson, Asst. Sec. & Asst. Treas., Little Rock, Ark. Office, Little Rock, Ark. LITTLE ROCK JUNCTION RY. — Argenta June, to E. Conn., East Little Rock, Ark., 0.59 m. ; total track ( steel ; 56 and 63 Ibs. ) , 1.49 miles. This road, which includes a bridge over the Arkansas River at Little Rock, is used as a connecting link between the Little Rock and Fort Smith and St. Louis, Iron Mountain and Southern Rys. HISTORY. — Chartered May 14, 1884; road opened Dec. 9, 1884. Leased for 50 years from Jan. 1, 1890, to the St. L., I. M. & So. Ry. Co. The company owns no rolling stock. INCOME ACCOUNT. — Rental, year ending Dec 31, 1902, $26,520. Payments : Interest on bonds, $26,100; other deductions, $420 — total, $26,- 520. BALANCE SHEET, Dec. 31, 1902. — Capital stock ($100 shares), $400,000; funded debt (1st consol. 6s of April 1, 1916 ), $435,000 ; unfunded debt, $11,931 ; profit and loss, $23,322 — total, $870,- 253. Contra : Cost of road, $863,698 ; other assets, $6,555— total, $870,253. The St. L., I. M. & S. Ry. Co. owns $357,000 of the capital stock. CORPORATE OFFICERS. — George J. Gould, Pres., New York, N. Y. ; C. G. Warner, Vice- Pres., St. Louis, Mo. ; A. H. Calef, Sec. & Treas., New York, N. Y. ; Francis Johnson, Asst. Sec. & Asst. Treas., Little Rock, Ark. Office, Little Rock, Ark. 14. Board of Directors, St. Louis, Iron Mountain d Southern Ry. Co., elected March 10, 1903: Geo. J. Gould. . . New York.N.Y. John T. Terry.. Frank Jay Gould. ' R. M. Gallaway. Louis Fitzgerald.NewYork,N.Y. C. G. Warner St. Louis, Mo. W. H. Thompson. Russell Harding.. " " Russell Sage New York.N.Y. H. Whelen, Jr..Philadelphia,Pa. Thos. T. Eckert-.New York.N.Y. Howard Gould.. " G. C. W. Lowrey New York, N. Y. GEOBGE J. GOULD, President 195 Broadway, New York, N. Y. Frank Jay Gould, V 'ice-President C. G. Warner, V ice-President St. Louis, Mo. Russell Harding, Vice- President d Gen. Manager " Sec. d Treas. — A. H. Calef New York, N. Y. I Local Treasurer — D. S. H. Smith. .St. Louis, Mo. Gen. Aud. — S. B. Schuyler St. Louis, Mo. | Gen. Solicitor — Alex. G. Cochran...St. Louis, Mo. PRINCIPAL OFFICE AND ADDRESS St. Louia, Mo. POOR'S MANUAL — THE MISSOURI PACIFIC SYSTEM. 521 MISSOURI PACIFIC SYSTEM.— Controlled Railroads, Operated Separately by Their Own Organizations. ARKANSAS CENTRAL RR.— Fort Smith to Paris, Ark., 46.5 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 60 Ibs. Chartered April 29, 1897; road opened to Charleston early in 1898; extension to Paris, 18 miles, opened May 1, 1900. Receiver appointed Dec. 29, 1898; company reorganized Feb. 9, 1899. The Missouri Pacific Ry. Co. owns $593,800 capital stock of this company. Operations, year ending June 30, 1902. — Earnings (passenger, $13,957; freight, $37,650; other, $50), $51,657. Operating expenses, $44,245. Net earnings, $7,412; other receipts, $19 — total, $7,431. Total deductions, $41,012. Deficit for year, $33,581. Directors.— C. E. Ratcliff, O. L. Miles, L. P. Miles, G. S. Whybark, C. E. Warner, Fort Smith, Ark.; J. P. Falconer, Charleston, Ark.; J. S. Shibley, Paris, Ark. OFFICERS: C. E. RATCLIFF, Pres. and Treas.; 0. L. Miles, Vice-Pres.; C. E. Warner, Sec., Fort Smith, Ark. GENERAL OFFICE, Fort Smith, Ark. ARKANSAS AND LOUISIANA RY.— Nashville to Hope, Ark., 25.54 m.; total track (steel, 27.47 m.), 27.54 miles. Gauge, 4 ft. 8J4 in. Rail (steel), 56 and 60 Ib.s. History. — Successor, Oct., 1881, to the Washington and Hope Ry. Co. (see MANUAL for 1891, page 10). Rolling Stock, Dec. 31, 1902. — Locomotive, 1 ; passenger cars, 2. Operations, year ending Dec. 31, 1902. — Trains run (passenger, 150; freight, 75; mixed, 33,900; other, 573), 34,698 miles. Passengers carried, 24,841; carried one mile, 363,374. Tons freight moved, 21,561; moved one mile. 474,434. Earnings (passenger, $15,589; freight, $41,514; other, $6,572), $63,675. Operating expenses, $32,165. Net earnings, $31,510; other receipts, $5 — total, $31,515. Payments: Interest on bonds, $19,200; taxes, $1,704; dividends, $10,611— total, $31,515. General Balance Sheet, Dec. 31, 1902.— Capital stock ($100 shares), $512,000; funded debt (1st 5s of July 1, 1913; auth., $1,800,000), $384,000; interest accrued, not due, $9,600— total, $905,600. Contra: Cost of road and equipment, $896,000; current assets, $9,600 — total, $905,600. The St. L., I. M. & S. Ry. Co. owns $511,700 of the capi- tal stock. Directors (elected Jan. 26, 1903) — C. G. Warner, E. G. Merriam, St. Louis, Mo.; George E. Dodge, Little Rock, Ark. ; A. H. Carrigan, J. J. Thomas, Washington, Ark. OFFICERS: GEORGE E. DODGE, Pres., Little Rock, Ark.; E. G. Merriam, Vice-Pres., St. Louis, Mo.; A. H. Calef, Treas., New York, N. Y.; F. W. Irland, Sec.; S. B. Schuyler, Gen. Aud., St. Louis, Mo. PRINCIPAL OFFICE AND ADDRESS, Washington, Ark. ARKANSAS MIDLAND RR.— Helena to Clarendon, Ark., 47.45 m.; total track, 54.71 miles. Gauge, 4 ft. 8y2 in. Rail (steel, 54.35 m.), 35, 40 and 56 Ibs. History. — Chartered Jan. 20, 1855, but built no road, the breaking out of the civil war stopping all efforts at construction. The line as above opened in 1872, was built by the Arkansas Central Ry. Co., chartered in 1871. Sold under foreclosure in July, 1877, and in 1879 conveyed to this company. Rolling Stock, Dec. 31, 1902. — Locomotives, 6. Cars — freight (box, 50; flat, 12), 62. Operations, year ending Dec. 31, 1902. — Trains run (passenger, 30,138; freight, 31,874; other, 1,140), 63,152 miles. Passengers carried, 55,320; carried one mile, 1,000.- 561. Tons freight moved, 85,223; ton-miles, 2,342,887. Earnings (passenger, $28,241; freight, $79,118; other, $8,965), $116,323. Operating expenses, $55,567. Net earnings, $80,756; other receipts, $25— total, $60,781. Charges: Interest on bonds, $10,560; taxes, $5,608; dividends, $36,013; other payments, $8,600 — total, $60,781. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $1,500,000; funded debt (1st gold 6s of July 20, 1911; auth., $516,000), $176,000; interest accrued, not due, $5,280 — total, $1,681.280. Contra: Cost of road and equipment, $1,676,000: current assets, $5,280 — total, $1,681,280. The St. L., I. M. & S. Ry. Co. owns $1,490,- 700 of the capital stock of this company. Directors (elected Jan. 12, 1903). — George J. Gould, New York, N. Y.; C. G. Warner, Russell Harding, St. Louis, Mo. ; George E. Dodge, Francis Johnson, Little Rock, Ark.; John J. Horner, Leon Berton, S. C. Moore, E. S. Ready, Helena, Ark. OFFICERS : GEORGE J. GOULD, Pres., New York, N. Y. ; C. G. Warner, Vice-Pres., St. Louis, Mo.; A. H. Calef, Treas., New York, N. Y.; E. G. Merriam, Sec.; Russell 52S POOR'S MANUAL OP RAILROADS — SOUTHWESTERN GROUP. Harding, Gen. Mgr., St. Louis, Mo. ; W. H. Pcmberton, Asst. Sec., Little Rock, Ark. GENERAL OFFICE, Helena, Ark. BRINKLEY, HELENA AND INDIAN BAY RR.— Pine City to Brinkley, Ark., 22.97 m.; total track (steel; 35 and 56 Ibs), 24.84 miles. Gauge, 4 ft. Sy2 in. History. — Chartered July 18, 1899, and took over from the Arkansas Midland RR. Co. the Helena and Indian Bay Division of that company's road (see MANUAL for 1901, page 536). Controlled by the St. Louis, Iron Mountain and Southern Ry. Co. through ownership of $124,875 of the $125,000 capital stock. The company owns no rolling stock. Operations, year ending Dec. 31, 1902. — Trains run (mixed, 27,094; all other, 69), 27,163 miles. Passengers carried, 9,876; carried one mile, 147,037. Tons freight moved, 10,504; ton-miles, 310,184. Earnings (passenger. $4,105: freight, $6,290; other, $3,059), $13,514. Operating expenses and taxes, $17,637. Deficit for year, $4,122. Directors ( elected Jan. 12, 1903). — C. G. Warner, St. Louis, Mo.; J. J. Horner, Helena, Ark.; George E. Dodge, Little Rock, Ark.; J. S. Thomas, John P. Lee, Clarendon, Ark. OFFICERS: C. G. WARNER, Pres.; E. G. Merriam, Sec., St. Louis, Mo.; A. H. Calef, Treas., New York, N. Y. ; W. H. Pemberton, Asst. Sec., Little Rock, Ark. GENERAL OFFICE, Brinkley, Ark. LITTLE ROCK AND HOT SPRINGS WESTERN RR.-Line owned: Hot Springs to Junction, Ark., 53.33 miles. Sidings, etc., 6.70 miles. Gauge, 4 ft. 8^ in. Rail (steel), 65 Ibs. History. — Chartered July 17, 1899, as successor to the Little Rock, Hot Springs and Texas Ry. Co. (see MANUAL for 1899, page7 606). The road was opened as above April 9, 1900. The section, Benton to Junction, at Little Rock, Ark., 23 miles is leased to the Choctaw, Oklahoma and Gulf RR. Co. Controlled by the St. L., I. M. A S. Ry. Co., through ownership of entire capital stock. Rolling Stock, June 30, 1902. — Locomotives, 5. Cars — passenger, 7; baggage, etc., 3; freight (box, 40; flat, 46; coal, 2), 88 — total, 98. Of this equipment, 7 passenger and 3 baggage, etc., cars are held under car trusts. Operations, year ending June 30, 1902. — Trains run (passenger, 87,957; freight, 31,255), 119,212 miles. Passengers carried, 73,256; carried one mile, 2,241,062. Tons freight moved, 64,450; ton-miles, 1,837,799. Earnings (passenger, $81,919; freight, $74,949; other, $24,034), $180,902. Operating expenses, $96,351. Net earnings, $84,551. Payments: Interest on bonds, $45,600; taxes, $9,516; other charges, $14,623 — total, $69,739. Surplus, $14,812; deficit forward, $4,784; net surplus, $10,024. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,140,000; funded debt (1st gold 4s of July 1, 1939), $1,140,000; equipment trust notes, $20,686; current liabilities, $20,764; interest accrued, $22,800; accrued taxes, $3,577; other liabilities, $51,969; profit and loss, $10,024 — total, $2,409,820. Contra: Cost of road and equipment, $2,280,000; materials, etc., $10,477; cash and current assets, $30,154; other assets, $89,189 — total, $2,409,820. Directors. — S. W. Fordyce, W. C. Fordyce, J. C. Van Blarcom, St. Louis, Mo.; John G. Lonsdale, Hot Springs, Ark. ; Allen N. Johnson, Little Rock, Ark. OFFICERS : W. C. FORDYCE, Pres. & Treas., St. Louis, Mo. ; John G. Lonsdale, Vice-Pres., Hot Springs, Ark.; W. S. Mitchell, Sec., Little Rock, Ark.; G. L. Morris, Aud. & Local Treas., Hot Springs, Ark. GENERAL OFFICE, Hot Springs, Ark. MISSISSIPPI RIVER, HAMBURG AND WESTERN RY.- Projected: Luna to Texarkana, Ark., 175 miles. Completed: Hamburg to Luna, Ark., 38.91 m. ; total track (steel; 40, 50 and 63 Ibs.), 41.9 miles. Gauge, 4 ft. 8y2 in. History. — Chartered June 18, 1897 ; road opened from Hamburg to Montrose, 20 m., Oct. 1, 1898; from Montrose to Luna, 19 m., July 1, 1899. The company is reported to have a State land grant of 1,000 acres per mile for the line through Ashley and Chicot Counties. Controlled by the St. L., I. M. & S. Ry. Co. through ownership of all the stock and all the bonds. Operated separately by its own organization. Rolling Stock, Dec. 31, 1902. — Locomotives, 3. Cars — passenger, 3; freight (box, 5; flat, 15), 20; caboose, 1 — total, 24. Operations, year ending Dec. 31, 1902. — Trains run (passenger, 286; freight, 189; mixed, 33,627; other, 8,938), 43,040 miles. Passengers carried, 34,489; carried one mile, 506,751. Tons freight moved, 89,769; ton-miles, 1,530,818. Earnings (passenger, $23,- 308; freight, $79,155; other, $8,634), $111,097. Operating expenses, $80,277. Net earn- ings, $30,820; other receipts, $2,033 — total, $32,853. Payments: Interest on bonds, $20,000; taxes, $2,466; dividends, $10,387. POOR'S MANUAL OF RAILROADS. 523 General Balance Sheet, Doc. 31, 1002.— Capital stock ($100 shares), $400,000 ; funded debt (1st gold 5s of Nov. 1, 1917; auth., $10,000 per mile), $400,000 — total, $800,000, representing cost of road and equipment. Directors.'— C. G. Warner, Russell Harding, F. W. Irland, St. Louis, Mo.; George E. Dodge, Little Rock, Ark.; Geo. W. Norman, W. F. McCombs, Hamburg, Ark. OFFICERS: C. G. WARNER, Pres.; Russell Harding, Vice-Pres. and Gen. Mgr.j E. G. Mer- riam, Sec., St. Louis, Mo.; A. H. Calef, Trees., New York, N. Y. ; W. H. Pemberton, Asst. Sec., Little Rock, Ark. GENERAL OFFICE, Hamburg, Ark. NEW ORLEANS AND NORTHWESTERN RR.— Vidalia, La., to Louisiana and Arkansas State Line, 115.48 m. ; total track (steel; 56 Ibs. ), 126.93 miles. Gauge, 4 ft. 8y2 in. History. — Organized Nov. 7, 1902, to take title to the property of the New Orleans and Northwestern Ry. (see MANUAL for 1902, page 489). Controlled by the St. L., I. M. & S. Ry Co., through ownership of all the capital stock. Capital stock ($100 shares), $1,500,000. Locomotives, 8. Cars — passenger, 3; baggage, etc., 2; freight (box, 19; stock, 3; flat, 66; coal, 8), 96; service, 24— total, 125. Operations, 2 months ending Dec. 31, 1902. — Trains run (passenger, 11,970; freight, 9,791; mixed, 3,758; other, 4,955), 30,474. Passengers carried, 17,284; carried one mile, 314,725. Tons freight moved, 25,327; ton-miles, 1,488,979. Earnings (passenger, $8,384; freight, $32,477; other, $2,869), $43,730. Operating expenses, $34,618. Net earnings, $9,112. Directors (elected Nov. 14, 1902). — E. T. Jeffery, A. H. Calef, Lawrence Greer, New York, N. Y. ; Russell Harding, St. Louis, Mo.; F. G. Hudson, Henry Bernstein, Monroe, La. ; J. N. Luce, H. Michel, C. J. Colton, New Orleans, La. OFFICERS : E. T. JEFFERY, Pres., New York, N. Y. ; Russell Harding, Vice-Pres. and General Manager; D. S. H. Smith, Treas., St. Louis, Mo.; A. H. Calef, Sec., New York, N. Y.; C. J. Colton, Asst. Sec., New Orleans, La. GENERAL OFFICE, St. Louis, Mo. NEW MEXICO RAILWAY AND COAL COMPANY. (For map of this system, see page 525.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 8 Controlled Roads 3-12 Dawson Ry. & Coal Co 4 Directors and Officers 13 Earnings, Expenses, etc 6 Equipment Trusts 11 Funded Debt, Details of 9 Gen. Balance Sheet 7 Guaranteed Bonds 10 History 2 Mileage Operated 1 Rolling Stock 5 1. Mileage Operated, Dec. 31, 1902.— A. LINES OWNED (total, 164.32 miles). El Paso and Northeastern RR.: El Paso, Tex., to New Mexico Line 19.32 miles. El Paso and Northeastern Ry.: Texas Line to Capitan, N. M 145.00 " B. LINES CONTROLLED (total, 157.50 miles). Alamogordo and Sacramento Mountain Ry. (see subjoined statement) 27.50 " El Paso and Rock Island Ry. : Carrizosa to Santa Rosa, N. M 130.00 ' Total length of lines in operation Dec. 31, 1902 321.82 miles. Sidings, etc. (owned, 32.05 m.; controlled, 11.66 m.), 43.71 miles. Gauge, 4 ft. Sy2 in. Rail (steel), 60 and 70 Ibs. 2. History. —Chartered May 5, 1897, and on June 23, 1897, acquired all the capital stock and all the first mortgage bonds of the New Mexico Fuel Co. Under agreements executed Oct. 21, 1897, and Dec. 1, 1897, the company constructed and equipped the road from El Paso, Tex., to the coal fields at Capitan, N. M., 164.32 miles, receiving in consideration of such construction and equipment all the capital stock and all the 1st mortgage bonds of the El Paso and Northeastern Ry. Co. and all the capital stock (no bonds issued) of the El Paso and Northeastern RR. Co. To meet the cost of the work, and to provide funds for building and equipping the mines of the New Mexico Fuel Co., at Capitan, the company issued its 1st mortgage bonds to the amount of $3,000,000, secured by deed of trust of all the securities of the El Paso and Northeastern RR. Co., El Paso and Northeastern Ry. Co., and New Mexico Fuel Co. The work of construc- tion was commenced in Dec., 1897, and the railroad was completed from El Paso, Tex., 524 POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. to Alamogorde, N. M., 86 miles, in July, 1898. The extension from Alamogordo to Capi- tan, and the mines at Capitan, were completed and opened for business on Oct. 1, 1899. 3. Controlled Roads. — The company owns all the capital stock of the Alamo- gordo and Sacramento Mountain Ry. Co., and 60 p. c. of the capital stock of the El Paso and Rock Island Ry. Co., and guarantees the bonds of those companies, both as to principal and interest. The railroads of both companies were constructed by the New Mexico Ry. and Coal Co., under agreements providing that in consideration of such construction it should receive, in the case of the Alamogordo and Sacramento Moun- tain Ry., all the capital stock of the road and bonds at the rate of $12,000 per mile, and in the case of the El Paso and Rock Island Ry. Co. all the capital stock and all the bonds. The company sold the bonds of both roads, and gave to the purchasers of the El Paso and Rock Island bonds a bonus of 40 p. c. in the capital stock of the same road. The Alamogordo and Sacramento Mountain Ry. extends from Alamogordo, N. M., to the summit of the Sacramento Mountains. It was completed in Nov., 1898. The El Paso and Rock Island Ry. was completed Feb. 1, 1902. It connects at Santa Rosa with the Chicago, Rock Island and El Paso Ry., an extension of the Chicago, Rock Island and Pacific System, and completes a through line from El Paso to Kansas City and Chicago. An agreement has been made between the New Mexico Ry. and Coal Co. and the Chicago, Rock Island and Pacific Ry. Co. for an interchange of traffic, on an equitable mileage basis, for the period of 999 years. 4. Dawson By. and Coal Co. — This company was organized in June, 1901, with a capital stock of $3,000,000 and an issue of $3,000,000 1st mortgage bonds, to acquire (through its subordinate companies, the Dawson Ry. Co. and the Dawson Fuel Co.) about 25,000 acres of coal lands near Dawson, N. M., and to build a railroad therefrom to a point on the Chicago, Rode Island and El Paso Ry., at Tucumcari, N. M., a distance of about 135 miles. The New Mexico Ry. and Coal Co. made an agreement with the Dawson Ry. and Coal Co. to open and equip the mines, build and equip the railroad, and to guarantee payment of the principal and interest of the Dawson Ry. and Coal Co.'s bonds, in consideration of receiving all the stock and bonds of the Dawson Ry. and Coal Co. The bonds have been sold, with a bonus to the purchasers of 49 per cent, in the capital stock, the other 51 per cent, of the capital stock remaining in the treasury of the New Mexico Ry. and Coal Co. The coal lands have been paid for in full, and the mines placed in condition for working. The construction of the railroad was practically com- pleted at the date of the annual report, and it was expected that it and the fuel prop- erty would be in full operation by July 1, 1903. An equitable traffic agreement was con- cluded Oct. 1, 1901, between the New Mexico Ry. and Coal Co. and the Chicago, Rock Island and Pacific Ry. Co., covering the interchange of traffic between the railroads. 5. Rolling Stock, Dec. 31, 1902.— Locomotives, 56. Cars— passenger, 17; freight (box, 215; flat, 25; coal, 595; caboose, 18; tank, 23), 876 — total, 893. 6. Operations. — As the New Mexico Ry. and Coal Co. owns outright all the stocks and bonds of the El Paso and Northeastern RR. Co., El Paso and Northeastern Ry. Co., and New Mexico Fuel Co., it is entitled to and receives all the net earnings of those companies. The following statement shows the results from operation for three fiscal periods ending June 30, 1899-1901, and for 18 months ending Dec. 31, 1902: 1899 June 30 (6 mos.) 1900 June 30 1901 June 30 1902 Dec. 31 (18 mos.) Total. Gross Earnings, Subordinate Companies Expenses and Taxes, ' Net Earnings, N. M Ry & C.Co 9 69,152 61 36,866 13 $ 345,368 45 122,107 70 S 821,818 60 435,828 55 S 1,098,644 22 681,984 68 $ 2,334,683 88 1,276,787 06 32,286 48 25,700 00 223,260 75 113,814 32 385,690 05 144,121 39 416,669 54 254,450 00 1,057,896 82 638 085 71 Interest a-d Taxes, " '".... Net Profits to Credit of Income 6,586 48 109.446 43 2-1,56866 162,209 54 519,811 11 525 526 POOR'S MANUAL OF RAILROADS SOUTHWESTERN GROUP. 7. General Balance Sheet, December 31, 1902. Cost or $10,625.000 Securities of Subor- dinate Companies $7,434,149 43 Improvements E. P. & N. E. Ry 658,810 71 Extension A. & S. M. Ry 23,514 29 Equipment 772,336 65 Cloudcroft Properties 100,21576 General Material 194,46183 Due from Subordinate Cos 142,61562 Sundry Lands, Scrip, etc 14,17553 Dawson Ry. & Coal Co 3,544,64585 El Paso & Rock Island Ry. Co 2,805,824 39 Cash 277,05939 Total Assets $15,967,809 45 Common Stock $3,000,00000 Preferred Stock 1,000,000 00 Funded Debt ( see Sec. 9) 4,740,000 00 Accrued Interest on Bonds. D. Ry. & C. Co. Bond Account E. P. & R. I. Ry. Co. Bond Account.. Accounts Payable (net) 59,250 00 3,000,000 00 2,500,000 00 236,374 92 Equipment Trusts 600,27757 Notes Payable 312,09585 Income Account 519,81111 Total Liabilities $15,967,809 45 8. Capital Stock. — The preferred stock has priority over the common stock for divi- dends at the rate of 5 p. c. per annum, non-cumulative. 9. Funded Debt — The funded debt outstanding on Dec. 31, 1902, consisted of (1) $3,000,000 1st collateral trust gold 5s of Oct. 1, 1947, and (2) $1,740,000 1st consol. collateral trust gold 5s of Oct. 1, 1951. Additional particulars will be found in the Ready Reference Bond List — see General Index. The bonds of Oct. 1, 1947, are secured by deposit in trust of the following stocks and bonds, being all the securities of the companies named : $2,700,000 capital stock and $2,700,000 1st mtge. bonds of the El Paso and Northeastern Ry. Co. ; $300,000 capital stock of the El Paso and Northeastern RR. Co. ; $2,500,000 capital stock and $1,500,000 1st mtge. bonds of the New Mexico Fuel Co. ; total par value of deposited securities, $9,700,000. These securities are owned absolutely by the New Mexico Ry. and Coal Co., and are held by the trustee subject to the terms of the mortgage. It is provided that the coupons of the deposited bonds shall be detached and canceled as fast as they mature, unless the New Mexico Ry. and Coal Co. shall be in default in payment of the semi-annual interest on its bonds. The bonds of Oct. 1, 1951, are authorized to the amount of $5,000,000, of which $3,000,000 are reserved in the hands of the trustee for the purpose of exchange at par, with interest adjusted, for the $3,000,000 1st mtge. collateral trust bonds. They are secured by a mortgage or deed of trust covering the following stocks and bonds owned by the company : $2,700,000 capital stock and $2,700,000 1st mtge. bonds of the El Paso and Northeastern Ry. Co. ; $300,000 capital stock of the El Paso and Northeastern RR. Co. ; $2,500,000 capital stock and $1,500,000 1st mtge. bonds of the New Mexico Fuel Co. ; $900,000 capital stock of the Alamogordo and Sacramento Mountain Ry. Co. ; $1,500,000, being 60 p. c. of the capital stock of the El Paso and Rock Island Ry. Co. ; and $1,530,000, being 51 p c. of the capital stock of the Dawson Ry. and Coal Co. Total par value of deposited securities, $13,630,000 ; amount thereof already deposited as security for the 1st mtge. collateral trust bonds (see preceding paragraph), $9,700,000. 10. Guaranteed Honda The New Mexico Ry. and Coal Co. guarantees, both as to principal and interest, $322,000 ($900,000 auth.) 1st mtge. 5 p. c. bonds of the Alamogordo and Sacramento Mountain Ry. Co., $2,500,000 1st mtge. 5 p. c. bonds of the El Paso and Rock Island Ry. Co., and $3,000,000 1st mtge. 5 p. c. bonds of the Dawson Ry. and Coal Co. 11. Equipment Trusts. — The equipment trust obligations are payable as follows : $225,380.83 in 1903, $154,860.64 in 1904, $67,179.12 in 1905, $51,869.76 in 1906, $51,869.76 in 1907 and $49,117.46 in 1908 and 1909. 1 2. RAILROADS OWNED BY THE N. M. RY. & COAL Co. E¥, PASO AND NORTHEASTERN RR El Paso, Tex., to the Texas State line, 19.32 m. ; El Paso to river terminals, 3.7 m. ; spur to smelter, 0.78 m. — total, 23.8 m. ; total track ( steel ; 60 and 70 Ibs.), 29.47 miles. Chartered June 12, 1896 ; built by the New Mexico Ry. and Coal Co. The entire capital stock ($300,000) is owned by that company and deposited under its collateral trust mortgage. Charles B. Eddy, Pres., Alamo- Kordo, N. M. ; John Franklin, Vice-Pres., Sec. & Treas. ; C. M. Shelby, Supt. & Aud., El Paso, Tex. General Office, El Paso, Tex. EL, PASO AND NORTHEASTERN RY. — Tex. State Line to Capitan, N. M., 144.88 m. ; total track (steel; 60 and 70 Ibs.), 166.58 miles. Char- tered Oct. 21, 1897, for 50 years. Road completed to the coal fields at Capitan, N. M., Oct. 1, 1899, and the mining of coal commenced in that month. Capital stock ($100 shares), $2,700,000 ; funded debt (1st mtge. bonds), $2,700,000 — total stock and bonds, $5,400,000. All these securities are owned by the New Mexico Ry. and Coal Co. and are de- posited under its collateral trust mortgage. Charles B. Eddy, Pres., Alamogordo, N. M. ; C. D. Simpson, Vice-Pres. ; H. P. Simpson, Treas., Scranton, Pa. ; B. S. Harmon, Sec., 40 Wall St., New York, N. Y. ; F. H. Ross, Asst. Sec., 68 Wil- liam St., New York, N. Y. 13. Board of Directors, N. M. Ry. & C. Co., elected February 10, 1903.. C. D. Simpson Scranton, Pa. Chas. B. Eddy.. Alamogordo, N. M. G.C.W.Lowrey.Larchmont, N.Y. T. H. Watkins Scranton, Pa. F. H. Ross.... New York, N. Y. H. M. Boies Scranton, Pa. L. A. Watres " " H. H. Brady, Jr.. J. Howard Ford. New York.N.Y. Ben j.S.Harmon.. New York.N.Y. W. L. Watson Pittston, Pa. J. W. Hollenback, Wilkesbarre, Pa. K.K. McLaren.. Jersey City.N.J. C. D. SIMPSON, President Scranton, Pa. G. C. W. Lowrey, Vice-President New York, N. Y. Chas. B. Eddy, 2d Vice-President and Gen. M anager. Alamogordo. N. M. Treas. & Asst. Sec. — F. H. Ross.. New York, N. Y. | Sec. & Gen.Counsel — B.S.Harmon. New York.N.Y. PRINCIPAL OFFICE AND ADDRESS 15 Exchange Place, Jersey City, N. J. NEW YORK OFFICE t 68 William St., Manhattan. POOR'S MANUAL NEW MEXICO RY. AND COAL CO. SYSTEM. 5SJ7 RAILROADS OPERATED IN CONNECTION WITH THE LINES OF THE N. M. BY. & C. CO. ALAMOGORDO AND SACRAMENTO MOUNTAIN RY.— Alamogordo, N. M., to the summit of the Sacramento Mountains, 27.5 m.; total track (steel; 60 Ibs.), 30.16 miles. Gauge, 4 ft. 8y2 in. Chartered March 21, 1898, under the laws of the Terri- tory of New Mexico to construct and operate a railroad from a point on the El Paso and Northeastern Ry., at or near Alamogordo, N. M., into the timber regions of the Sacra- mento Mountains, a distance of about 75 miles. Road completed as above in Nov., 1898. The principal traffic of this road is the hauling of lumber. Ihe logging cars are owned by the Lumber Co. operating the lumber mills at Alamogordo. Locomotives, 4. Cars — combination, 1; excursion coaches, 4; caboose, 5 — total, 10. Financial Statement, Dec. 31, 1902. — Capital stock, $900,000. Funded debt out- standing consists of $322,000 (auth., $900,000) 1st mtge. 5 p. c. 30-yr. gold bonds, due April 1, 1928. These bonds are secured upon all the property of the Alamogordo and Sacramento Mountain Ry. Co., and are guaranteed, principal and interest, by the New Mexico Ry. & Coal Co. The New Mexico Ry. and Coal Co. owns the entire capital stock. Directors.— C. D. Simpson, H. P. Simpson, H. M. Boies, Scranton, Pa.; A. S. Greig, W. A. Hawkins, C. B. Eddy, Alamogordo, N M.; B. S. Harmon, New York, N. Y. OFFI- CERS: C. D. SIMPSON, Pres., Scranton, Pa.; C. B. Eddy, Vice-Pres., Alamogordo, N. M. ; H. M. Boies, 2d Vice-Pres.; F. H. Ross, Treas.; B. S. Harmon, See., New York, N. Y. GENERAL OFFICE, Alamogordo, N. M. DAWSON RY. AND COAL CO.— Projected : Liberty to Dawson, N. M., 135 miles. Rail (steel), 70 Ibs. Chartered in June, 1901, and acquired all the securities of the Dawson Ry. Co. and of the Dawson Fuel Co. The Dawson Coal Co. owns about 25,000 acres of coal lands near Dawson, N. M., and the Dawson Ry. Co. was organized to build the railroad as above, connecting the property of the fuel company with the Chicago, Rock Island and El Paso Ry. The New Mexico Ry. and Coal Co. has placed the mines in working condition, and expected to have them and the railroad in full operation by July 1, 1903. In consideration of the work the New Mexico Ry. & Coal Co. received all the stock and all the bonds of the Dawson Ry. and Coal Co. The bonds have been sold, the purchasers receiving a bonus of 49 p. c. in the capital stock, while the remaining 51 p. c. of the capital stock is held by the New Mexico Ry. and Coal. Co. Financial Statement, Dec. 31, 1902. — Capital stock, $3,000,000. Funded debt, $3,- 000,000 1st mtge. 5 p. c. 50-yr. gold bonds, due July 1, 1951, secured by deposit of all the securities of the Dawson Ry. Co. and of the Dawson Fuel Co. The bonds are guaran- teed by the New Mexico Ry. and Coal Co., both as to principal and interest. Cost of properties to Dec. 31, 1902, $3,544,645.85. Directors. — C. D. Simpson, T. H. Watkins, Scranton, Pa. ; C. B. Eddy, Alamogordo, N. M.; K. K. McLaren, Jersey City, N. J.; B. S. Harmon, New York, N. Y. OFFICERS: C. D. SIMPSON, Pres., Scranton, Pa.; C. B. Eddy, Vice-Pres., Alamogordo, N. M. ; Thos. H. Watkins, 2d Vice-Pres.; H. H. Brady, Jr., Treas., Scranton, Pa.; B. S. Harmon, Sec., New York, N. Y. GENERAL OFFICE, 15 Exchange Place, Jersey City, N. J. New York Office, 68 William Street, Manhattan. EL PASO AND ROCK ISLAND RY.— Carrizosa to Santa Rosa, N. M., 130 m.; total track (steel; 70 Ibs.), 139 miles. Gauge, 4 ft. 8y2 in. Chartered in 1900; road opened in Feb., 1902. Connects the El Paso and Northeastern line with the Chi- cago, Rock Island and Pacific System. The Road was built by the New Mexico Ry. and Coal Co. under an agreement outlined in that company's statement. Financial Statement, Dec. 31, 1902. — Capital stock, $2,500,000. Funded debt, $2,- 500,000 1st mtge. 5 p. c. 50-yr. gold bonds, due June 1, 1951. The New Mexico Ry. and Coal Co. owns 60 p. c. of the capital stock. The bonds are secured by first mort- gage lien upon the company's property, and are guaranteed, principal and interest, by the New Mexico Ry. and Coal Cr Mile 4.484 02 4.323 34 Averaees Der Mile. . . , 2.599 71 2.730 16 Net earnings, 1901-02 (36.85 p. c.), $497,405.85. Payments: Interest on funded debt, $122,500; taxes, $81,941.53; dividends on 1st preferred stock (Nos. 9 and 10, 2y2 p. c. each, paid Jan. 15 and July 15, 1902), $274,902.50; construction charged to income ac- count, $362.12— total, $479,706.15. Surplus, $17,699.70. 6. Statement of the income and charges for eight years (St. J. & G. I. RR. Co., 1895-97; St. J. A G. I. Ry. Co., 1898-1902) : tltStttttii - - Year Ending Mile- age Oper- ated. Gross Earnings. Working Expenses. Taxes. Surplus Earnings, Taxes Deducted. Miscella- neous Income. Total Income. In- terest on Bonds. Other Charges. Total Charges. Surplus. 251.06 251.06 251.06 251.06 312.21 312.21 312.21 312.21 $ 614,078 11 724,169 60 316,228 92 1,232,499 06 1,261,060 06 1,404,694 85 1,399,955 00 1,349,790 24 $ 503,35733 571,81080 223,280 84 747,668 58 911,01388 993,821 92 811,65500 852,38439 $ 97,127 30 64,338 56 35,752 83 76,197 00 75,973 06 78,799 87 82,487 00 81,941 53 $ 13,593 48 88,020 24 57,195 25 408,633 48 274,073 12 332,073 06 505,812 00 415,464 32 $ I 13,593 48 93,319 30 57,320 02 409,486 31 274,073 12 332,073 06 505,812 00 415,464 32 $ 420,000 420,000 35,000 70,000 87,500 105,000 105,000 122,500 9 *18,133 97 116 11 18,486 65 315,724 75 177,345 54 173,363 19 275,408 00 275,264 62 S 401,866 03 420,116 11 53,486 65 385,724 75 264,845 54 278,363 19 380.408 00 397,764 62 $ §388,272 55 §326,796 81 §3.833 37 23,761 56 9,227 58 53,709 87 125,404 00 17,699 70 5,299 06 124 77 852 83 * Credit. f For the period Feb. 28 to July 1, 1897. t Years ending June 30. § Deficit. 7. Profit and LOSS Account, June 30, 1902.— Balance, June 30, 1901, $226,- 646.58; surplus for year ending June 30, 1902, $17,699.70; vouchers and pay rails previ- POOR'S MANUAL OF RAILROADS. 529 ous to July 1, 1901, cancelled during year ending June 30, 1902, $167.43; sundry credits, $194.28 — total, $244,707.99. Contra: Disputed bills rendered prior to July 1, 1901, can- celled during year ending June 30, 1902, $3,500; expenditures during year, chargeable to previous year, $5,750; sundries, $900; balance, profit, June 30, 1902, $234,557.99 — total, $244,707.99. 8. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $16,916,817 02 New Construction 129,829 49 New Equipment 232,42114 Real Estate 2,05950 Right of Way 1,38730 Materials and Supplies 86,70351 Current Assets 272,10239 Cash 131,623 28 Prepaid Insurance 1,633 36 Unadjusted Accounts 3,429 16 Total Assets $17,778,006 15 Capital Stock Paid in ($100 shares). $13,598,500 00 Funded Debt Outstanding 3,500,00000 Accrued Interest on Bonds, not Due. 70,000 00 Dividend on 1st Preferred Stock 137,462 50 Current Liabilities 154,689 86 Accrued Taxes, not Due 34,93878 Renewal Accounts 44,62012 Freight Overcharge Account 3,236 91 Profit and Loss 234,55799 Total Liabilities $17,778,00616 9. Capital Stock. — The capital stock outstanding as per general balance sheet consists of $4,600,000 common stock, being the total authorized issue ; $5,497,600 1st preferred 5 p. c. non-cumu- lative stock ($5,500,000 authorized, less $1,500 in treasury), and $3,500,000 2d preferred 4 p. c. non-cumulative stock. The voting trust in which the entire capital stock was deposited at the time of the reorganization expired on Jan. 1, 1902, and the shares were delivered to the stockholders. 10. Funded Debt — The funded debt consists of 1st gold 3s (4s after Jan. 1, 1902) of Jan. 1, 1947. The authorized issue is $5,000,000. Of the unissued bonds, $500,000 are reserved for future use, to be issued at not exceeding the rate of $100,000 a year, while the remaining $1,000,000 can be issued only for additional mileage, at not exceeding the rate of $6,000 per mile. The trustee holds as additional security under the mortgage 1,250 shares of stock of the St. Joseph Terminal RR. Co. and 10 shares of stock of the St. Joseph Union Depot Co. Further particulars respecting the funded debt are in the Ready Reference Bond List — see General Index. 11. Directors (as constituted May 1, 1903). — Townsend Hornor, C. H. Imhoff, Fred. G. Reighley, New York, N. Y.; Raymond Du Puy, W. T. Van Brunt, Graham G. Lacy, St. Joseph, Mo. ; F. C. Kern, J. V. Lemoine, C. K. Finley, Hiawatha, Kan. W. T. VAN BRUNT, President St. Joseph, Mo. Raymond Du Puy, Vice-Pres. and Gen. Manager Secretary — F. W. Russell St. Joseph, Mo. | Treasurer — Graham G. Lacy St. Joseph, Mo. Auditor and Cashier — F. C. Uhlman St. Joseph, Mo. PRINCIPAL OFFICE AND ADDRESS St. Joseph, Mo. ST. LOUIS AND SAN FRANCISCO RAILROAD COMPANY. (For map of this system, see page 531.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capitalization per mile 20 Capital Stock 11 Directors and Officers 26 Earnings, Expenses.etc., 1902. 6 Equipment Trust Notes 16 Funded Debt, Details of 14 Gen. Balance Sheet 10 History 4 Income Account 6 Land Department 22 Leased Lines, Statements for. 24 Mileage of System, 1903 3 Mileage Operated, 1902 1, 2 Operations, 1901-1902 8 Preferred Stock Preference... 11 Profit and Loss Acct., 1902. . . 9 Rentals of Leased Lines 7 Rolling Stock 5 St. L., M. & S. E. Collateral Trust Notes 15 Stocks and Bonds In Treas. 19 Stocks and Bonds Pledged. . . 21 Trust Certificates, C. & E. I. Stock 13 Trust Certificates, K. C., F. S. & M. Pref. Stock Col. . . 12 1. Mileage Operated, June 30, 1902 (see Sec. 2 for details). 8t. Louis and San Francisco Railroad 2,007.60 miles. Kansas City, Fort Scott and Memphis Railway 854.70 Kansas City, Memphis and Birmingham Rbilroad 285.66 Paris and Great Northern Railroad 16.94 St. Louis, San Francisco and Texas Railway ? 15.84 Red River, Texas and Southern Railway 87.34 For* Worth and Rio Grande Railway 146.16 Total length of lines operated in the system, June 30, 1902 3,414.24 miles. Of the total of 3,414.24 miles operated, 3,286.21 miles are owned by the companies comprising the system, and 128.03 miles are operated under agreements with other com- 530 POOR 8 MANUAL OF RAILROADS — SOUTHWESTERN GROUP. panics. The detailed mileage statement (Section 2) shows the lines operated by each company of the system. The average main track mileage in the system, operated during the year ending June 30, 1902, was 3,252.35 miles, as against 2,922.85 miles for the pre- ceding fiscal year. Nominally the St. Louis and San Francisco RR. Co. operates no more than the 2,862.30 miles of road designated " St. Louis and San Francisco RR." and " Kansas City, Fort Scott and Memphis Ry.," but the accounts and statistics of all the roads embraced in the system on June 30, 1902, are combined in its annual report, and are no longer published separately. For that reason this statement has been made to cover the entire system as of June 30, 1902, and the separate statements for the leased and auxiliary roads, except as in Section 23, have been eliminated from the MANUAL. A bill has been passed by the Texas Legislature authorizing the consolidation of the Paris and Great Northern RR., St. Louis, San Francisco and Texas Ry., Red River, Texas and Southern Ry., Fort Worth and Rio Grande Ry., Blackwell, Enid and Texas Ry. (the section of the Blackwell, Enid and Southwestern Ry. lying in Texas), and Oklahoma City and Texas RR., under the name of St. Louis, San Francisco and Texas Ry. 2. Lines Operated. — Statement showing in detail the mileage operated by the several companies embraced in the St. Louis and San Francisco Railroad System, on June 30, 1902: 8t. Louis & San Francisco RR. (2,007.60 miles.) : Miles. St Louis, Mo., to Oklahoma City, O. T... 543.09 Sapula, Ind. T., to rted River. Tex 192.90 Monett, Mo., to Red River, Tex 286.13 Pierce City, Mo., to Ellsworth, Kan 323.80 Springfield to Kansas City, Mo. (3.8 m. trackage) 189.49 Beaumont, Kan., to Blackwell, O. T 79.73 Girard to Galena, Kan 49.68 Oronogo to Jopl in, Mo 9.32 Springfield to Chadwick, Mo 34.86 Cuba June, to Salem, Mo., and branches. 52.69 Rogers, Ark., to Grove, Ind. T 47.16 Fayetteville to Pettigrew, Ark 41.32 Jenson to Mansfield, Ark 18.34 Pittsburg to Weir City, Kan., and Mines. 10.48 Springfield Connecting Ry 3.18 Granby, Mo., to Granby, Mines 1.50 Blackwell, O. T., to C. & N. Crossing.... 84.33 Oklahoma City, O. T., to Chickasha, I. T. 39.60 The Kansas City, Ft. Scott & Memphis Ry. (854.70 miles) : Kansas City, Mo., to Arcadia, Kan 117.00 Springfield, Mo., to Memphis, Tenn 285.78 Linton, Kan., to Carbon Center, Mo 25.17 Washburn to Webb City, Mo 80.17 Arcadia to Cherryvale, Kan 74.50 Weir City Junction to Weir City, Kan... 3.94 Greenfield to Aurora, Mo 37.67 Baxter, Kan., to Miami, Ind. T 13.07 Deckerville to Luxora, Ark 36.30 Willow Springs to Grandin, Mo 81.95 Miami to Afton, Ind. T 13.09 Jacques Junction Extension 1.06 Arcadia to Springfield, Mo. (trackage) .. 85.00 Kansas City, Memphis & Birmingham RR. (285.66 miles) : Miles. Memphis, Tenn., to Birmingham, Ala 265.51 Pratt City to Bessemer, Ala 11.06 Empire Branch 9.09 Fort Worth and Rio Grande Ry. : Fort Worth to Brown wood, Tex 146.16 Red River, Texas and Southern Ry. : Sherman to Fort Worth, Tex. (29.8 m. trackage) 87.34 St. Louis, San Francisco & Texas Ry. : Red River to Sherman, Tex. (9.43 m. trackage) 16.84 Paris & Great Northern RR. : Red River to Paris, Tex 16.94 Mileage Operated, June 30, 1902 3,414.24 Deduct mileage of trackage rights : Kansas City Suourban Belt RR. : Knoche Jc. to Kansas City, Mo. 3.80 m. K. C., Clinton & Sp. RR. : Arcadia to Springfield, Mo 85.00m. Houston & Texas Central RR. : Denison to Sherman, Tex 9.43m. St. Louis Southwestern Ry. : Carrollton Jc. to Hedge, Tex.. .29.80 m.— 128.03 Mileage owned by companies of System, June 30, 1902 3,286.21 SUMMARY OF TRACK MILEAGE OF THE SYSTEM, JUNE 30, 1902. St. Louis and San Francisco RR The Kansas City, Fort Scott & Memphis Ry Kansas City, Memphis & Birmingham RR. . Fort Worth & Rio Grande Ry Red River. Texas & Southern Ry St. Louis, San Francisco <5r Texas Ry Paris & Great Northern RR. . . .' Totals. . First Track. Miles. 2,007.60 864.70 285.66 146.16 87.34 15.84 16.94 3,414.24 Second Side Total Steel Track. Track. Track. Rails. Mile». Miles. Miles. Miles. 1.76 369.35 2,378.71 2,378.71 23.90 300.40 1,179.00 1,179.00 76.46 362.12 362.12 14.79 160.95 160.95 12.87 100.21 100.21 7.51 23.35 23.35 5.62 22.56 22.56 25.66 787.00 4,226.90 4,226.90 Gauge, 4 ft, Syz in. Rail (steel), 40 to 85 Ibs. 581 532 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 3. Railroads acquired since June 30, 1902.— After the close of ita fiscal year the St. Louis and San Francisco RR. Co. acquired the control of the Chicago and Eastern Illinois RR. Co., St. Louis, Memphis and Southeastern RR. Co. and St. Louis and Gulf Ry. Co. In consequence of these and other acquisitions, noted in Section 4, the mileage of the system was as follows on May 1, 1903: St. Louis & San Francisco RR 3,292.89 miles. Kansas City, Memphis & Birmingham RR 285.66 Fort Worth & Rio Grande Ry 195.87 Red River, Texas & Southern Ry 88.82 Birmingham Belt RR 15.81 Chicago & Eastern Illinois RR 748.00 St. Louis, Memphis & Southeastern RR 257.20 St. Louis & Gulf Ry 230.00 St. Louis, San Francisco & Texas Ry 14.45 Paris & Great Northern RR 16.94 Total 5,145.64 miles. Fuller particulars of the developments since June 30, 1902, will be found in Section 4, and separate statements for the controlled companies will be found in subordinate posi- tions to, or following, this statement. 4. History. — Reorganization, June 29, 1896, of the St. Louis and San Francisco Ry. Co. The length of lines then acquired by the company was 1,046.19 miles (see MANUAL for 1897, page 714). On various subsequent dates the company acquired the Kansas City and Southwestern RR., the St. Louis, Salem and Arkansas RR,, the Central Division of the Atlantic and Pacific RR., the St. Louis and Oklahoma City RR., the Kansas, Okla- homa and Gulf RR., the Kansas City, Osceola and Southern Ry., the Kansas Midland Ry., the Arkansas and Oklahoma RR., the Oklahoma City Terminal Ry. and the St. Louis, Oklahoma and Southern Ry., thereby increasing its mileage owned to 1,901.74 on June 30, 1901, as shown in the MANUAL for 1902, page 751. Acquisition of Kansas City, Fort Scott and Memphis System. — In the spring of 1901, persons in the interest of this company purchased substantially the whole capital stock of the Kansas City, Fort Scott and Memphis RR. Co. and of the Kansas City, Memphis and Birmingham RR. Co. On June 14, 1901, the Kansas City, Fort Scott and Memphis Ry. Co. was organized, and to it were conveyed the shares thus acquired. That company afterwards acquired the properties of the Kansas City, Fort Scott and Memphis Ry. Co. (of Oklahoma), Kansas City, Fort Scott and Memphis RR. Co. and Current River RR. Co. The St. Louis and San Francisco RR. Co. owns the capital stock of the Kansas City, Fort Scott and Memphis Ry. Co., and that company owns the capital stock of the Kansas City and Memphis Ry. and Bridge Co., and of the Kansas City, Memphis and Birmingham RR. Co. Effective Aug. 23, 1901, a 99-year lease of the Kansas City, Fort Scott and Memphis Ry. and of the Kansas City and Memphis Ry. and Bridge property was made to the St. Louis and San Francisco RR. Co. at a rental equivalent to the interest on the bonds for which the Kansas City, Fort Scott and Memphis Ry. Co. was liable, and dividends at the rate of 4 per cent, per annum on its preferred stock. The preferred stock, being all owned by the St. Louis and San Francisco RR., has been deposited in escrow as the basis for an issue of an equal amount of trust certificates entitled to dividends at the rate of 4 per cent, per annum and redeemable and payable by this company within twenty years from Oct. 1, 1901. Acquisition of Fort Worth and Rio Grande Ry. — In May, 1901, and subsequently the St. Louis and San Francisco RR. Co. acquired the capital stock of the Fort Worth and Rio Grande Ry. Co., whose line extended from Fort Worth to Brownwood, Tex., 146.16 miles. An extension from Brownwood to Brady, Tex., about 47 miles, was completed early in 1903, and further extensions to San Antonio and to the Mexican border, are projected. Construction of Red River, Texas and Southern Ry. — Under the charter of the Red POOR'S MANUAL ST. LOUIS AND SAN FRANCISCO RR. CO. 533 River, Texas and Southern Ry. Co. a line has been constructed from Sherman to Carroll- ton, Tex., 52.98 miles, connecting the Red River Division of the St. Louis and San Fran- cisco RR. with the St. Louis Southwestern Ry. of Texas, and a belt line 4.56 miles in length has been constructed at Fort Worth, connecting the Fort Worth and Rio Grande Ry. with the St. Louis Southwestern Ry. of Texas. Trackage rights have been acquired in the St. Louis Southwestern Ry. of Texas, from Carrollton to Fort Worth, 29.8 miles, completing the connection between the St. Louis and San Francisco RR. and the Fort Worth and Rio Grande Ry. The through line was opened for traffic on March 23, 1902. The Red River, Texas and Southern Ry. Co. is controlled by the St. Louis and San Fran- cisco RR. Co. Blackwell, Enid and Southwestern Ry. — On Feb. 27, 1902, an agreement was made with the Construction Company building the Blackwell, Enid and Southwestern Ry., to purchase, at completion, that road then under construction, extending in a southwesterly direction from Blackwell, Okla., to Vernon, Tex., a distance approximately of 251 miles, together with its equipment. The price agreed to be paid for the completed road together with equipment costing $3,000 per mile, is $18,000 per mile of main track in refunding mortgage bonds of this company at par. On the day on which the purchasing agreement was entered into, a temporary lease was also executed, whereby the Construction Com- pany turned over to this company, on March 1, 1902, 84.33 miles of the completed line between Blackwell, Okla., and the Choctaw Northern Ry. crossing, and that section has since been operated as a part of this system. The rest of the line was taken over for operation as part of this system on Feb. 8, 1903. Oklahoma City and Western RR. — On April 4, 1902, an agreement was made with the St. Louis Trust Co. to purchase the Oklahoma City and Western RR. on its comple- tion, between Oklahoma City, Okla., and Quanah, Tex., a distance of approximately 184 miles. The price agreed upon is $17,000 per mile of completed road, together with such amount as shall have been expended for equipment. Pending the completion of the entire line, an operating agreement was entered into on May 27, 1902, whereby the contractors turned over to this company, on June 22, 1902, that portion of the line then completed between Oklahoma City and Chickasha, Ind. T., 39.60 miles, and from that date it has been operated as a part of this system. An extension from Chickasha to Snyder, Okla., 84 miles, was taken over for operation as part of the system on Feb. 8, 1903, and the rest of the line, from Snyder, Okla., to Quanah, Tex., 60 miles, on March 29, 1903. ***** Birmingham Belt RR. — This company bought, as of June 3, 1902, the property of the Birmingham Belt RR. Co., consisting of 15.81 miles of terminal tracks in the city of Birmingham, Ala., together with its equipment; also valuable real estate, franchise, and buildings in the city of Birmingham. The tracks of the Birmingham Belt RR. are uaed to interchange freight between the various railroads centering at Birmingham, Ala., and the different industries along its tracks. By acquiring this property the system has greatly improved and strengthened its position in the city of Birmingham, Ala., and tributary territory. Control of Chicago and Eastern Illinois RR. Co. — In Aug., 1902, the company ac- quired the control of the Chicago and Eastern Illinois RR. Co. by purchasing about 60 per cent, of its preferred stock and about 92 per cent, of its common stock — say 80 per cent, of its outstanding capital stock — on the terms outlined in Section 13. The main line of the Chicago and Eastern Illinois RR. extends from Chicago, 111., to Thebes on the Mississippi River near Cape Girardeau. At Thebes connection is made with the St. Louis and San Francisco System, a transfer boat being used pending the completion of Thebes bridge. Taylor City Belt Ry. — About two miles of track have been built by the Taylor City Belt Ry. Co. to connect the tracks of this company and those of the Missouri Pacific Ry. Co. with the World's Fair site of the Louisiana Purchase Exposition Co., in Forest Park, 634 POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. St. Louis. The capital stock of the Taylor City Bolt Ry. is owned one-half by each of the two companies interested. The tracks were completed and ready for use in September, 1902. St. Louis, Memphis and Southeastern RR. — Effective Nov. 1, 1902, the com- pany purchased the entire capital stock of the St. Louis, Memphis and Southeastern RR. Co., amounting to $12,500,000, and issued $4,000,000 of 4 per cent, collateral trust notes in payment therefor. The St. Louis, Memphis and Southeastern RR. will extend, when completed, from St. Louis, Mo., to Luxora, Ark, 249 miles, with a branch from Cape Girardeau, Mo., to Hoxie, Ark., 129 miles, and a branch from Mingo to Hunter, Mo., 46 miles — a total of 424 miles. The road is in operation from Cape Girardeau to Hoxie, 129 miles; from Cape Girardeau to Luxora, 126 miles; from Ste. Genevieve to St. Mary's Junction, 11.5 miles, and from Mingo to Hunter, 43 miles. Construction is in progress on the extension from Cape Girardeau to St. Mary's Junction and from Ste. Genevieve to St. Louis. At Luxora connection is made with the Deckerville-Luxora Branch of the Kansas City, Fort Scott and Memphis Ry., and when the line from Cape Girardeau to St. Louis is completed, a new and short route will be opened between St. Louis, Memphis and Birmingham. St. Louis and Gulf Ry. — The St. Louis and San Francisco RR. Co. purchased, in Nov., 1902, the entire capital stock of the St. Louis and Gulf Ry. Co, amounting to $6,000,000. The St. Louis and Gulf Ry. Co. owns 197 miles of completed road (Cape Girardeau to Caruthersville, Mo., 122 miles; Gibson to Caligoa, 16 miles; Kennett to Leechville, 26 miles; Pascola to Deering, 6 miles; Bloomfield to Zalma, 24 miles; and Aquilla to Zeta, 3 miles), and has 36 miles additional under construction or partly finished. The Kansas Southwestern Ry. Co. — This company purchased from The Atchison, To- peka and Santa Fe Ry. Co. one-half interest in the Kansas Southwestern Ry., extending from Arkansas City to Anthony, Kan., a distance of 59.35 miles. Since October 26, 1901, this road has been operated independently for account of the two companies owning it. It has no floating or bonded debt. Control Acquired by Rock Island Company. — Under date of May 12, 1903, a circular was issued by Messrs. J. P. Morgan & Co., offering to purchase all or not less than 225,000 shares of the common stock of this company for and in behalf of the Chicago, Rock Island and Pacific RR. Co., at the price of $60 per share in 5 per cent, gold bonds of the Chicago, Rock Island and Pacific RR. Co. and $60 per share in common stock of the Rock Island Co. Up to Aug. 13, 1903, shares of common stock to the number of 282,940 were de- posited in acceptance of this offer. 5. Rolling Stock, June 30, 1902. — Locomotives, 510. Cars — passenger (1st class, 84; 2d class, 50; chair, 48; combination, 53), 235; baggage, mail and express, 90; freight (box, 7,042; fruit, 81; stock, 984; coal, 7,136; flat, 587: refrigerator, 107; furniture, 736), 16,673; service, 755— total, 17,753. 6. General Income Account, year ending June 30, 1902. Earnings— Passenger $4,253,757 73 Freight 15,606,243 15 Mail and Express 998,071 76 Miscellaneous 762,80985 Total ( $6,647.77 per mile ) $21,620,882 49 Net Earnings (37.69 p. c.) $8,148,411 89 Miscellaneous Income 177,69950 Land Department Receipts 19,460 88 Total Net Income $8,345,57227 Expenses— Maint. of Way and Struc.. .$2,978,847 14 Maintenance of Equipment. 2,212,306 07 Transportation and Traffic. 7,649,347 03 General 631,97036 Total ( $4,142.38 per mile) $13,472,470 60 Interest on Funded Debt $3,191,72015 Taxes 360,75897 Rentals of Leased Lines 2,434,06878 Rents of Tracks and Terminals 81,54577 Total Payments $6,068,093 67 Net profits, $2,277,478.60. Deduct for dividends (4 p. c. on first and second preferred stock), $805,281.06. Surplus carried to credit of profit and loss, $1,472,197.54. POOR'S MANUAL — ST. LOUIS AMD SAN FRANCISCO RR. CO. 536 7. Statement showing details of rental of leased lines for the fiscal year ending June 30, 1902: Interest on Debt. K. C.( F. S. & M. RR. Co., Consolidated 6 p. c. Bonds $824.160 00 K. C., F. S. & G. RR. Co., 1st Mortgage 7 p. c. Bonds 150,612 0( F. S., S. E. & M. RR. Co., 1st Mortgage 7 p. c. Bonds 39,969 99 Memphis, Kansas & Colorado RR. Co., Trust Mortgage 7 p. c. Bonds , 34,440 00 Kansas & Missouri RR. Co., 1st Mortgage 5 p. c. Bonds 19,500 00 The Kansas Equipment Co., 1st Mortgage 5 p. c. Bonds 38,050 00 The Ozark Equipment Co., 1st Mortgage 5 p. c. Bonds 40,116 66 The Ft Scott Equipment Co., 1st Mortgage 6 p. c. Bonds 15,960 00 Short Creek & Joplin RR. Co., 1st Mortgage 7 p. c. Bonds 1.096 67 The K C F S & M. Ry. Co., Refunding Mortgage 4 p. c. Bonds 362,058 89 Current River RR. Co., 1st Mortgage 5 p. c. Bonds 80,300 00 St Charles Car Co., Equipment Notes 750 50 Pittsburg Locomotive Works, Equipment Notes 2,525 00 K. C. & M. Ry. & Bridge Co., 1st Mortgage 5 p. c. Bonds 125,000 00 Total $1.734,539 71 Less, Arcadia Line Interest 110,00000 Total Interest on Debt $1,624,539 71 Add, Taxes 22JA4,?«, 2i Rental of Tracks and Terminals — Between Arcadia and Springfield 38,958 37 Traffic Contract with K. C., M. & B. RR. Co 35,343 35 Sinking Funds 15,653 34 Guarantee of Interest on K. C., C. & S. Ry. Co. Bonds, paid 86,625 00 Dividend on K. C., F. S. & M. Ry. Co., Preferred Stock Certificates 405,300 00 Total Rental of Leased Lines $2,434,068 78 8. Statement showing the results from the operation of the system for the year ending June 30, 1902, and of practically the same mileage for the year ending June 30, 1901: 1901 1902 1901 1902 Train Mileage — Passenger 4,683,742 7,692,241 5,344,179 8,761,189 S 7.914,392 175,149 11,659 $ 8,148,412 177.699 19,461 Freight Total. 12,375,983 3,740,969 170,486,848 2.200 c. 8,798,261 1,540,205,003 0.894 c. * 3,752,995 13,920,672 921,852 728,759 14,105,368 3,678,344 185,236,488 2.296 c. 9,068,650 1,637,557,119 0.953 c. S 4,253.758 15,606,243 998,072 762,810 8,101,200 2.586,658 1,887,672 75,097 338,075 220,619 995,920 8,345,572 3,191,720 2,434,069 81,546 360,759 Passengers, One Mile Interest on Bonds Earnings per Passenger per Mile. . . Tons Freight Moved Lease Rentals Tons Moved, One Mile Earnings per Ton per Mile Taxes Improvements, etc *Dividends 805,281 Freight 6,104,041 1,997,159 2,922.85 6,611 45 3,903 69 2,707 76 59.04 p. c. 6,873,375 1.472.197 3,252.35 6,64777 4,142 38 2,50539 62.31 p. c. Mail and Express Miscellaneous Miles Road Operated (average). . . . Totals 19.324,279 6,180,104 2,624,416 2,005,404 599,963 21,620,882 7,649,347 2,978,847 2,212,306 631,970 Expenses— Transportation Maint. of V/ay Operating Expenses per Mile Equipment General .... Totals 11,409,887 7,914.392 13,472,470 8,148,412 W«t Furpjnga * In 1902, 4 p. c. each on 1st and 2d preferred stock ; in 1901, 4 p. c. on 1st preferred stock, 2J p. c. on 2d preferred stock, and 4 p. c. on Kansas City, Fort Scott and Memphis common stock. 9. General Profit and Loss Account, year ending June 30, 1902.— Balance at credit June 30, 1901 (St. L. & S. F. RR. Co., $1,910,668.87; K. C., F. S. & M. Ry. Co., $623,832.10; K. C., M. & B. RR. Co., $648,046.42; F. W. & R. G. Ry. Co., $146,- 388.64), $3,328,936.03; surplus income, year ending June 30, 1902, $1,472,197.54; mis- cellaneous accounts closed, $88,510.34; over provision for taxes, fiscal year 1901, now credited back, $54,056.11— total, $4,943,700.02. Contra: Amounts from suspense ac- 530 POORS MANUAL OF RAILROADS — SOUTHWESTERN GROUP. count, being difference between cost of underlying bonds refunded and proceeds of re- funding bonds sold, also commissions paid therefor, $600,000; discount on K. C., F. S. & M. Ry. Co. refunding bonds, $33,588.07 ; cost of internal revenue stamps affixed to 499,926 shares of capital stock, and cost of printing and engraving the certificates, $13,923.50; engraving, recording and certifying refunding bonds, also legal expenses, etc., in connec- tion therewith, $45,846.95; book value of 5,382 shares of Eureka Improvement Co. stock written off, also this company's proportion of foreclosure expenses, $2,240.78; book value of 120 shares of St. Louis Exposition and Music Hall Association stock written off, $960; discount on 17,230 shares St. L. & S. F. RR. Co. 2d preferred stock sold, $516,900; taxes for 1901 in lands in New Mexico and Arizona, $10,446.48; excess expenditures in construction of St. Louis, Oklahoma and Southern Ry. over bond issue, $109,254.14; sun- dry surveys, $18,938.73; interest for year ending June 30, 1901, on K. C., M. & B. RR. Co. income bonds, $316,139; F. W. & R. G. Ry. Co., worthless accounts written off, $5,999.99— total, $1,674,237.64. Balance at credit, June 30, 1902, $3,269,462.38. 1O. General Balance Sheet, June 30, 1902. Franchises and Prop. (Sec. 18) $100,632,12182 Stocks and Bonds Owned (Sec. 19).. 1,744,89265 Suspense Account* 5,677,50999 Auxiliary Properties and Franchises 28,700,09678 Leasehold Estate (K.C.,F.S.&M.Ry.) 62,000,61000 Blair & Co. Trust Equip. ( Sec. 16) ... 1,245,000 00 Refunding Bonds in Trust 200,00000 Special Master, Kan. Mid. Ry 87321 Cash in Treasury 370,72396 Coupons and Sinking Funds 918,91028 Current Accounts 2,876,477 75 Supplies on Hand 1,096,34283 Unadjusted Accounts 196,976 09 Construction Advances (Sec. 17) 1,222,80409 Redemption of Trust 6s 1,23000 Cost of Bonds Acquired for Dis- bursements made under Provision of Mortgage 3,005,74154 K. C., F. S. & M. Refunding Bonds In Treasury 452,50000 Trustees Sinking Fund Accounts.... 973,73728 St. Louis World's Fair Stock 17,50000 Total Assets $211,334,04807 Capital Stock — First Preferred $6,000,00000 Second Preferred . . 16,000,000 00 Common 29,000,00000 Auxiliary Comp's... 12,084,10000 The K.C.,F.S.&M.Ry. 28,510,000 00 Funded Debt — St. L.& S.T. RR. Co... 59,020,92500 Auxiliary Comp's.... 16,671,92000 The K.C.,F.S.&M.Ry. 33,490,61000 Equip. Notes, Blair & Co. ( Sec. 16) . . 1,245,000 00 Improve. & Equip. Fund, N. W. Div. 200.00000 Special Master, Kan. Mid. Ry 87321 Notes Payable (see Sec. 17) 840,00000 Accrued Interest and Taxes 841,98591 Current Accounts 3,967,168 72 Sinking Funds Accrued 1,096,41399 Interest Fund, K. C., O. & S. Ry.... 60,28385 Trustees Account Traffic Guaranty, K. C., F. S. & M. Ry 6,01832 Imp. Fund, K.C.& M.Ry.& Bridge Co. 18,089 29 Land Income Account (K. C., F. S. & M. Ry) 32,20740 Profit and Loss 3,269,46238 Total Liabilities $211,334,048 07 * Difference between cost of underlying bonds refunded and proceeds of 4 p. c. refunding bonds sold therefor, to be charged to profit and loss account in installments. 11. Capital Stock. — The authorized capital stock of the St. Louis and San Francisco RR. Co. is $100,000,000, in shares of $100 each, consisting of $5,000,000 1st preferred stock, $31,000,000 2d preferred stock, and $64,000,000 common stock. The preferred stock, in the order of preference, is entitled to non-cumulative dividends at the rate of 4 p. c. per annum, in priority to common stock. It is provided that no further mortgage shall be placed upon the property, nor the amount of tne preferred stock be increased, except with the consent, in either instance, of the holders ol a majority of each class of preferred stock, given at a meeting called for the purpose, and of such part of com- mon stock as shall be represented at the meeting. The St. Louis and San Francisco RR. Co. owns all the capital stock of The Kansas City, Fort Scott and Memphis Ry. Co. and practically all tne capital stock of the auxiliary companies ; the capital stock of the St. Louis and San Francisco RR. Co., therefore, may be said to represent the ownership of the entire system. 12. Kansas City, Fort Scott and Memphis Preferred Stock Trust Certificate*. — The preferred stock of the Kansas City, Fort Scott and Memphis Ry. Co., $13,510,000 in amount, la deposited as collateral to an issue of trust certificates of this company to an equal amount. The certificates are authorized to the amount of $15,000,000, and are entitled to dividends at the rate of 4 p. c. per annum, payable in gold. They are redeemable at any time at par and accrued divi- dends, and will be payable in 20 years from Oct. 1, 1901. The preferred stock against which tney are issued is guaranteed dividends at the rate of 4 p. c. per annum, under the terms of the lease made by the Kansas City, Fort Scott and Memphis Ry. Co. to the St. Louis and San Francisco RR. Co. (see Sec. 4). 13. Chicago and Eastern Illinois Stock Trust Certificates. — In a circular dated Aug. 7, 1902, the St. Louis and San Francisco RR. Co. offered to purchase the common and pre- ferred stock of the Chicago and Eastern Illinois RR. Co. at the price of $150 per share for the pre- ferred stock and $250 per share for the common stock, payment to be made, respectively, in pre- ferred stock trust certificates entitled to dfvidends at the rate of 6 p. c. per annum, in respect of each share of preferred stock represented thereby, and in common stock trust certificates entitled to dividends at the rate of 10 p. c. per annum, in respect of each share of common stock represented thereby. As of Dec. 1, 1902, $4,055,900 of the $6,830,700 outstanding preferred stock and $6,622,- 100 of the $7,217,800 outstanding common stock of the Chicago and Eastern Illinois RR. Co. nafl POOR S MANUAL ST. LOUIS AND SAN FRANCISCO RR. CO. 537 been acquired under these terms, the company issuing preferred stock trust certificates of the value of $6,083,850 in payment of the preferred stock, and common stock trust certificates of the value of $16,555,250 in payment for the common stock. The preferred stock trust certificates and the common stock trust certificates are issued under separate agreements, dated Oct. 1, 1902, be- tween the St. Louis and San Francisco RR. Co. and the Colonial Trust Co., and are secured by de- posit of the respective shares against which they were issued. They are payable July 1, 1942, but may be redeemed on any dividend day on 30 days' notice, the preferred dividend days being the 1st of Jan., April, July and Oct., and the common dividend days the 1st of Jan. and July. Additional trust certificates may be issued under like terms in exchange for the remainder of the common and preferred stock of the Chicago and Eastern Illinois RR. Co. 14. Funded Debt — The funded debt outstanding on June 30, 1902 — total, $109,183,455, an per general balance sheet — consisted of the several issues of bonds listed in the following state- ment. Additional particulars respecting any issue will be found in the paragraph relating thereto appended to the statement ; and the details of funded debt outstanding on or about Aug. 1, 1903. will be found in the Ready Reference Bond List — see General Index : St. Louis & San Francisco RR. Co. ($59,020,925). (1) $2,050,300 St.L.&S.F.Ry.ser.6s of Nov. 1, 1906. (2) 141,000 St.Cl&S.F.Ry. M. & W. Div. 1st 6s of Aug. 1, 1919. (3) 203,000 St.L.&S.F.Ry.trust 6s of Aug.1,1920. (4) 439,000 St.L.&S.F.Ry.trust 5s of Oct.1,1987. (5) 3,714,000 St.L.&S.F.Ry.gen.6s of July 1, 1931. (6) 5,803,000 St.L.&S.F.Ry.gen.5s of July 1, 1931. (7) 306,000 St.L.,W.&W.Ry.lst6s of Sept.1,1919. (8) 72,000 F.S.&V.B.Br. 1st 6s of April 1, 1910. (9) 1,573,125 consol. mtge. 4s of July 1, 1996. (10) 829,000 Southwestern Div.lst5sofOct.l,1947. (11) 145,000 Central Div. 1st 4s of April 1, 1929. (12) 50,500 Northwn.Div.lst 4s of April 1,1930. (13) 43,695,000 refunding 4s of July 1, 1951. Kansas City, Fort Scott & Memphis Ry. Co. ($33,490,610). (14) $2.151,600 K.C.,F.S.&G.RR.lst7s of Junel,1908. (15) 671,000 F.S.,S.E.&M.RR.lst 7s ofSept.1,1910. (16) 492,000 M.,K.&C.Ry. 1st 7s of Sept. 1, 1910. (17) 390,000 Mo.&Kan.RR. 1st 5s of Aug. 1, 1922. (18) 13,736,000 K.C.,F.S.&M.RR.con.6sofMayl,1928. (19) 1,606,000 Current River 1st 5s of Oct. 1, 1927. (20) 12,607,500 refunding 4s of Oct. 1, 1936. (21) 761,000 Kan. Eq. Co. 1st 5s of Jan. 1, 1905. (22) $226,000 F. S. Eq. Co. 1st 6s of July 1, 1909. (23) 944,000 Ozark Equip. Co. 1st 5s, of which $110,000 represented redeemed bonds to be replaced by refunding 4s. The $834,000 outstanding ar<; payable $321,000 on May 1, 1910, and $513,000 on Nov. 1, 1901. (24) 65,510 St. Charles Car Co. and Pitts- burgh Locomotive Works equip- ment notes, payable July 1, 1904, to Oct. 1, 1908, interest 5 p. c. per annum. Kansas City d Memphis Ry. & Bridge Co. (25) $3,000,000 1st 5s of Oct. 1, 1929. Kansas City, Memphis & Birmingham RR.' Co. ($10,748,920). (26) $3,323,390 1st 4s of March 1, 1934. (27) 6,322,780 income 5s of March 1, 1934. (28) 913,000 Birm. Eq. Co. 1st 6s of Mar. 1, 1903. (29) 189,000 Mem. Eq. Co. 1st 6s of Aug. 1, 1905, 750 10-yr. coupon extension notes. Fort Worth & Rio Grande Ry. Co. (30) $2,923,000 1st 4s of July 1, 1928. ADDITIONAL PARTICULARS RESPECTING FUNDED DEBT OF ST. LOUIS & SAN FRANCISCO HR. CO. (1) Second (now 1st) Mortgage Gold Bonds. — Total amount authorized and originally issued $5,700,000, of which $110,000 have been retired and cancelled, and $3,539,700 have been acquired and placed under the refunding mortgage, without impairment of lien. Secured by first mortgage on the original main line, Pacific to Seneca, Mo., 292.27 miles ; and Granby Branch, 1.50 miles — together, 293.77 miles, and equipment thereon. (2) Missouri and Western Division 1st Mortgage Gold Bonds. — Total amount authorized and originally issued, $1,100,000, of which $89,000 have been retired and cancelled, through opera- tion of sinking fund, and $870,000 have been acquired and placed under the refunding mortgage, without impairment of lien. Mortgage is first lien on road, Pierce City, Mo., to Oswego, Kan., 72.91 miles; Oronogo to Joplin, Mo., 9.32 miles; together, 82.23 miles, and 'equipment thereon. Com- mencing with year 1884, bonds to the amount of $5,000 per annum became subject to be drawn for payment, under provision of the mortgage, at 105 and interest. (3) Trust Mortgage Gold Bonds of 1880-1920. — Originally issued, $1,350,000; retired and cancelled, $416,000, through operation of sinking fund and $731,000 have been acquired and placed under the refunding mortgage, without impairment of lien. Secured by deposit in trust of $934,000 of 1st mtge. 7 p. c. bonds, out of a total issue of $1,400,000, on roads, Plymouth (Monett), Mo., to Fayetteville, Ark., 71.18 miles; Carl Junction, Mo., to Girard, Kan., 29.14 miles, and Litchfleld Junction to Litchfleld, Kan. (Carbon Branch), 3.25 miles; together, 103.75 miles. The 1st mtgo bonds have until maturity to run. Sinking fund consists of difference between Interest on the $934,000 of 1st mtge. 7s and that on the trust mtge. 6s outstanding. (4) Trust Mortgage Gold Bonds of 1887-1987. — Authorized Issue limited not to exceed $20,000 per mile of newly constructed or acquired roads and equipment, connecting with the main system. $660,000 have been acquired and placed und'jr the refunding mortgage, without impairment of Hen. Secured by deposit in trust of all 1st mtge. bonds, and not less than a majority of the capital stock of such roads. Roads now are: Springfield, Mo., Belt Line, 3.18 miles; Red River, Ind. T., to Paris, Tex., 16.94 miles; Jenson to Mansfield, Ark., 18.34 miles; Powell to St. Paul, Ark., 7.68 miles; Plttsburg to Weir City, Kan., 10.48 miles ; St. Paul to Pettlgrew, Ark., 8.03 miles ; together, 64.65 miles. (5 & 6) General Mortgage Gold Bonds. — Both classes issued under one and the same mort- gage, and equally secured. Total amount authorized, $30,000,000. of which $20,100,000 were is- sued; $10,581,000 have been acquired and placed under the refunding mortgage, without Impair- ment of lien, and two bands ($2,000) were purchased, for which consol. mtge. 4 p. c. bonds were is- sued. The roads under the first lien of this mortgage are as follows : St. Louis to Pacific, Mo., :i4.01 miles, and Terminals in St. Louis; Springfield to Bolivar, Mo., 38.79 miles; Springfield to Chadwlck, Mo., 34.86 miles ; Fayetteville. Ark., to Red River, Ind. T., 214.61 miles ; Fayetteville to Powell, Ark., 25.61 miles; Joplin, Mo., to Galena, Kan. (and Belt Line, Joplin), 10.59 miles; Joplin to Carl Junction, Mo., 6.70 miles; in all, 365.17 miles, and equipment thereon. Also a second lien on 624 06 miles of present system mileage, Including the main line from Pacific, Mo., to Seneca, Mo., on which the "A. B. and C." mortgage Is a first Hen. 538 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. (7) St. Louis, Wichita and Western Ry. 1st Mtge. Gold Bonds. — Amount authorized and is- sued, $2,000,000, of which $1,694,000 have been acquired and placed under refunding mortgage, without impairment of lien. These bonds are secured by a first lien on the road, Oswego to Wichita, Kan., 144.49 miles. Under provision contained in the mortgage and lease of road to the St. Louis and San Francisco Ry. Co., these bonds are redeemable at 105 and interest. (8) Fort Smith and Van Buren Bridge 1st Mtge. Gold Bonds. — Authorized issue, $500,000; originally issued, $475,000, of which $219,000 have been retired and cancelled through operation of sinking fund, and $184,000 acquired and placed under the refunding mortgage, without impair- ment of lien. Under provision of the mortgage, in April of each year, commencing in 1890, 5 p. c. of bonds issued and outstanding are to be drawn for payment, at 105 and interest (if not purchased), and cancelled, and any and all are subject to redemption by lot at 110 and interest, at any time be- fore maturity. Length of bridge, 0.34 mile. (9) Consolidated Mortgage Gold Bonds. — Total amount authorized, $50,000,000, of which $39,- 032,000 were appropriated and set aside to provide at maturity, or before, for prior lien bonds. At June 30. 1901, there were outstanding $7,831,125 of these bonds, of which $6,311,750 have been acquired and placed under the refunding mortgage, without impairment of lien, and includes $53,- 750 issued during this fiscal year, under provision of the mortgage, for $43,000 underlying lien bonds redeemed and cancelled. The security for these bonds consists of a first mortgage on the Salem Branch, 52.69 miles, and its equipment; Beaumont Branch, 61.86 miles; Blackwell Exten- sion, 17.87 miles ; Arkansas and Oklahoma RR., Rogers, Ark., to Grove, Ind. T., 47.16 miles ; Oklahoma City Terminal Ry., 1.50 miles ; together, 181.08 miles ; also a first mort- gage on certain equipment purchased since July 1, 1896 ; a second mortgage on 1,098.08 miles and equipment thereon, and a third mortgage on 624.06 miles and equipment thereon ; together, 1,903.22 miles. These bonds are further secured by the deposit of $466,000 first mortgage bonds (as more fully set forth in Table I), of a total authorized issue of $1,400,000, the entire Issue of said bonds being secured in the manner explained under the head of trust mortgage of 1880 gold 6s. (10) Southwestern Division 1st Mtge. Gold Bonds. — Total amount authorized and issued, $1,500,000, of which $671,000 have been acquired and placed under the refunding mortgage, with- out impairment of lien. These bonds are a first lien on road, Seneca, Mo., to Sapulpa, Ind. T., 112.05 miles (formerly Atlantic & Pacific RR., Central Division). Bonds are subject to redemption at par at the option of this company, on any half-yearly interest day, on 6 months' notice. (11) Central Division 1st Mtge. Gold Bonds. — Total amount authorized, $3,462,000; issued, $1,962,000, of which $1,817,000 have been acquired and placed under the refunding mortgage, with- out impairment of lien. Bonds secured by first lien to extent of $1,962,000 on road from Sapulpa, Ind. T., to Oklahoma City, Okla., 103.26 miles. Bonds redeemable at 102J and interest, at the option of this company, on any half-yearly interest day, on 3 months' notice. (12) Northwestern Division 1st Mtge. Gold Bonds. — Total amount authorized, $1,300,000, of which $1,249,500 have been acquired and placed under the refunding mortgage, without impairment of lien. Included in the $1,249,500 bonds acquired are $200,000, which were exchanged for a like amount of refunding mortgage 4 p. c. bonds, and the latter were placed in trust with the Continental Trust Company of New York, to provide for additional equipment and improvements to be made on the property, at the rate of not exceeding $75,000 in any calendar year. These bonds are a first lien on road Wichita to Ellsworth, 106.4 miles (formerly Kansas Midland Ry.) . Bonds redeemable at 1021 and interest, at the option of this company, on any half-yearly interest day, on 3 months' notice. (13) Refunding Mortgage Gold Bonds. — Secured on the Red River Division, from Sapulpa, Ind. T., to Denison, Tex., 199.31 miles, by deposit of the entire issue of 1st mtge. bonds of the St. Louis, Oklahoma and Southern Ry. Co. and the entire capital stock of the St. Louis, San Francisco ana Texas RR. Co., and on the Kansas City Division, from Kansas City to Bolivar, Mo., 146.9 miles, by deposit of the entire issue of Kansas City Division 1st mtge. bonds. Secured by mortgage on the remainder of the St. Louis and San Francisco RR., 1,680.94 miles, subject to $51,584,875 of under- lying lien bonds, of which $36,258,950 have been deposited under the mortgage, as per Sec. 16. Also secured by the $26,966,425 of stocks and bonds already deposited under the consolidated mort- gage, the $934,000 of bonds already deposited under the trust mortgage of 1880, and the $2,831,500 of stocks and bonds already deposited under the trust mortgage of 1887. The total amount of bonds authorized by the mortgage is $85,000,000, of which $62,500,000 were set aside to retire un- derlying bonds, and for refunding purposes, the remaining $22,500,000 being reserved for better- ments, new equipment and additional lines. Of the $22,500,000 lot, $6,000,000 are to be issued at the cumulative rate of $1,000,000 a year, for improvements, betterments, new equipment, etc., and the remaining $16,500,000 are to be issued for extensions, additional lines, etc., at the actual cost thereof, $4,500,000 at not exceeding the rate of $32,000 per mile, including underlying liens, and $12,000,000 at not exceeding the rate of $22,500 per mile, including underlying liens. Any sur- plus bonds of the $62,500,000 lot which may not be issued or needed for refunding purposes may be issued for additions and betterments. At the close of the fiscal year ending June 30, 1902, $46,- 818,000 of the bonds had been executed, of which $43,895,000 were issued and $2,923,000 deposited uncertified with the Morton Trust Co. to take up an equal amount of 1st mtge. bonds of the Fort Worth and Rio Grande Ry. Co. The $43,895,000 of bonds issued were disposed of as follows : $40,604,000 were sold, and with the proceeds $34,327,100 of underlying bonds were redeemed and placed under the mortgage; $1,369,900 were used to reimburse the treasury for the cost of $3,044,- 200 of the capital stock of the Fort Worth and Rio Grande Ry. Co., and remain in the treasury of the company ; $1,721,100 were exchanged for underlying bonds held in the treasury of the com- pany, and $200,000 were exchanged for a like amount of Northwestern Division bonds, and are de- posited with the Continental Trust Co. of New York to meet the cost of Improvements on, or new equipment for, the Northwestern Division. Underlying bonds exchanged for or replaced by re- funding mortgage bonds are deposited under the refunding mortgage, without impairment of lien, unless and until cancelled. Up to July 15, 1903, the total amount of bonds issued under the refunding mortgage was $56,020,000, of which $3,303,000 was held in the treasury or outstanding as collateral. The following are the purposes for which the bonds were issued : For the retirement of underlying bonds and for refunding purposes, $42,599,100 ; for improvements, betterments, new equipment, etc., $2,000,000 ; for the purchase of $3,057,000 of the capital stock of the Fort Worth and Rio Grande, $1,375,900; in respect of additional lines, extensions, etc., at actual cost, 542.514 miles, $10,045,000 — total, $56,020,000. Up to the same date, July 15, 1903, the amount of under- lying bonds deposited under the mortgage was $30,623,950, the increase of $365,000 since June 30, 1902 (see Sec. 16), consisting of the following: $4,000 St. L. & S. F. Ry., Missouri and Western Div., bonds; $5,000 St. L. & S. F. Ry. trust 6s of Aug. 1, 1920; $33,000 St. L. & 8. P. POOR S MANUAL — ST. LOUIS AND SAN FRANCISCO RR. CO. 539 Ry. gen. mtge. 6 p. c. bonds ; $315,000 St. L. & S. F. RR. consol. mtge. 4 p. c. bonds ; $2,000 St. Louis, Wichita and Western Ry. 1st mtge. 6 p. c. bonds ; and $6,000 Ft. Smitb and Van Buren Bridge 1st mtge. 6 p. c. bonds. The amount of underlying bonds not deposited under the refund- ing mortgage as of July 15, 1903, was $15,246,800, as follows: $2,050,300 St. L. & S. F. Ry. Series A, B, and C 1st mtge. 6 p. c. bonds of Nov. 1, 1906 ; $131,000 St. L. & S. F. Ry., Missouri and Western Div., 1st mtge. 6 p. c. bonds of Aug. 1, 1919 ; $196,000 St L. & S. F. Ry. trust 6s of Aug. 1, 1920 ; $439,000 St. L. & S. F. Ry. trust 5s of Oct. 1, 1987 ; $5,803,000 St. L. & S F Ry. gen. 5s of July 1, 1931 ; $3,681,000 St. L. & S. F. Ry. gen. 6s of July 1, 1931 ; $1,558,000 St L. & S. F. RR. consol. mtge. 4s of July 1, 1996 ; $304,000 St. Louis, Wichita & Western Ry 1st mtge. 6s of Sept. 1, 1919 ; $60,000 Ft. Smith & Van Buren Bridge 1st mtge. 6s of April 1, 1910 • $829,000 St. L. & S. F. RR., Southwestern Div., 1st 5s of Oct. 1, 1947 ; $145,000 St. L. & S F' RR., Central Div., 1st 4s of April 1, 1929 ; and $50,500 St. L. & S. F. RR., Northwestern Diy ' 1st 4s of April 1, 1930. ADDITIONAL PARTICULARS RESPECTING FUNDED DEBT OF THE KANSAS CITY, FORT SCOTT AND MEM- PHIS RY. CO. (14) Kansas City, Fort Scott and Gulf RR. 1st Mtge. Bonds. — Total amount authorized, $4,000,- 000, of which $3,056,900 were issued ; $905,300 have been retired and cancelled from the net pro- ceeds of land sales. Secured by first mortgage on the main line from Kansas City, Mo., to Baxter, Kan., 159.92 miles, including land in the State of Kansas. Net proceeds of land sales constitute a sinking fund for the redemption of these bonds at 110 flat, as often as such accumulation shall amount to' $50,000. In the refunding mortgage of The Kansas City, Fort Scott and Memphis Ry. Co. provision is made for the retirement of these bonds. (15) Fort Scott, South Eastern and Memphis RR. 1st Mtge. Bonds. — Total amount of issue, $1,542,000, of which $971,000 were exchanged in the year 1889 for a like amount of Kansas City, Fort Scott and Memphis RR. Co. consol. mtge. 6 p. c. bonds. These bonds are a first mortgage on the main line from Edward, Kan., to Springfield, Mo., 100.01 miles. Sinking fund consists of 1 p. c. of entire issue, plus interest accumulation on bonds in hands of trustees. These bonds are drawable at 105 flat, if not purchasable at 110 flat. Amount of bonds alive in hands of trustees, $440,000. In the refunding mortgage of the Kansas City, Fort Scott and Memphis Ry. Co. provi- sion is made for the retirement of these bonds when they mature. (16) Memphis, Kansas and Colorado Ry. 1st Mtge. Bonds. — Total amount of issue, $585,000, of which $93,000 were exchanged in the year 1889 for a like amount of Kansas City, Fort Scott and Memphis RR. Co. consol. mtge. 6 p. c. bonds. These bonds are a first mortgage on line from Cherry- vale, Kan., east through Cherokee, Kan., to Weir City, Kan., 49.79 miles. In the refunding mort- gage of the Kansas City, Fort Scott and Memphis Ry. Co. provision is made for the retirement of these bonds when they mature. (17) Kansas and Missouri RR. 1st Mtge. Bonds. — Total amount of issue, $390,000. These bonds are a first mortgage on road from Coalvale, Kan., to Weir City Junction, Kan., 26.18 miles. In the refunding mortgage of the Kansas City, Fort Scott and Memphis Ry. Co. provision is made for the retirement of these bonds when they mature. (18) Consolidated Mortgage Bonds, K. C., F. S. £ M. RR. — Mortgage provides for an issue of not more than $25,000 per mile of road. These bonds are a first mortgage on line of road Spring- field, Mo., to Memphis, Tenn., 282.34 miles ; Rich Hill Branch, 25.17 miles; Baxter, Kan., to Joplin and Webb City, Mo., 21.90 miles ; Greenfield, Mo., to Aurora, Mo., 37.67 miles ; Baxter, Kan., to Miami, Ind. T., 13.07 miles ; Weir City, Kan., to Mackie, Kan., 3.40 miles, in all 383.55 miles ; and a second mortgage on 335.90 miles. Under provision of 4 p. c. refunding mortgage, dated Aug. 23. 1901, no further issue of these bonds can be made. Provision is made in that mortgage for the retirement of these bonds when they mature. In the purchase of the line from Arcadia to Spring- field, Mo., the Kansas City, Clinton and Springfield Ry. Co. assumed $2,000,000 of these bonds and agreed to pay the interest on them monthly. (19) Current River RR. 1st Mtge. Bonds. — Total amount of issue, $1,606,000. These bonds are a first mortgage on the road, Willow Springs, Mo., to Grandin, Mo., 81.95 miles, and equipment thereon. They are assumed and guaranteed by the Kansas City, Fort Scott and Memphis Ry. Co., and that company's liability has been assumed by the St. Louis and San Francisco RR. Co. In the refunding mortgage of the Kansas City, Fort Scott and Memphis Ry. Co. provision is made for the retirement of these bonds when they mature. (20) Refunding Mortgage Gold Bonds. — Secured by first mortgage on the line from Decker- vllle to Luxora, Ark., 36.3 miles ; on the line from Miami to Afton, Ind.T., 13.09 miles ; on the Jacques Junction Extension, 1.06 miles, and on certain real estate in Kansas City, Mo. Secured by second mortgage on the 383.55 miles covered by the consol. mtge. bonds as a first lien, and on the 81.95 miles covered by the Current River 1st mtge. bonds as a first lien, and secured by third mortgage (the consols being the second lien) on the lines covered by the Kansas City, Fort Scott and Gulf 1st mtge. bonds, the Memphis, Kansas and Colorado 1st mtge. bonds, and the Kansas and Missouri 1st mtge. bonds, and on 15.01 miles (Edward, Kan., to Arcadia, Mo.) of the line covered by the Fort Scott, Southeastern and Memphis 1st mtge. bonds — the total length of the lines covered by the bonds as a third lien being 250.90 miles. Also secured on the rest of the Kansas City, Fort Scott and Memphis Ry. Co.'s property, subject to prior liens, and will be secured on any property hereafter acquired through issue of bonds secured by the same mortgage, Including any shares in the Belt Ry. Co., Kansas City Union Depot Co., and Kansas City, Memphis and Bir- mingham RR. Co. (see Sec. 21). The total amount of bonds authorized is $60,000,000, of which $12,507,500 have been issued. Of the unissued bonds $38,168,270 are reserved to be issued in ex- change for underlying bonds and for refunding purposes, and the remaining $9,324,230 are reserved to provide for improvements, betterments and new equipment, and for additional lines, extensions and terminals, as provided in the mortgage. These bonds are guaranteed as to principal and in- terest by the St. Louis and San Francisco RR. Co. (21) Kansas Equipment Co. 1st Mtge. Bonds. — Total amount issued for new equipment pur- chased, $761,000, of which $200,000 have been purchased through operation of sinking fund and turned over to trustees, the interest accruing on same being used by trustees for the further pur- chase of bonds. Amount of bonds alive in bands of trustees, $200,000. These bonds will be re- placed by issue of refunding bonds of the Kansas City, Fort Scott and Memphis Ry. Co. provided for that purpose. (22) Fort Scott Equipment Co. — Total amount issued for new equipment purchased, $332,000, of which $33,000 have been retired and cancelled through operation of sinking fund, and $33,000 540 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. were drawn for payment July 1, 1902, under provision of the mortgage. The sinking fund provi- sion calls for the redemption each year of at least one-tenth of the bonds Issued, purchasable at not exceeding par and accrued interest, upon proposals, failing in which, then such bonds are to be determined by lot. These bonds will be replaced by issue of refunding bonds of the Kansas City, Fort Scott and Memphis Ry. Co. provided for that purpose. (23) Ozark Equipment Co. 1st Mtge. Bonds. — Total amount issued for new equipment pur- chased, $1,000,000, of which $368,000 were issued during the present fiscal year. Sinking fund provision calls for the redemption each year of at least one-tenth of the bonds issued, purchasable at not exceeding par and accrued interest, upon proposals, failing in which, then such bonds are to be determined by lot. Bonds amounting to $166,000 have been retired and cancelled through opera- tion of sinking fund, of which $110,000 were redeemed by trustees during the present fiscal year, and for which K. C., F. S. & M. Ry. Co. refunding 4 p. c. bonds will be issued. These bonds will be re- placed by issue of refunding bonds of the Kansas City, Fort Scott and Memphis Ry. Co. reserved for that purpose. (24) Equipment Notes of St. Charles Car Co. and Pittsburg Locomotive Works. — Notes given for new equipment purchased and are payable within five years, in stated amounts, com- mencing July 1, 1904. FURTHER PARTICULARS RESPECTING FUNDED DEBT OF AUXILIARY COMPANIES. (25) Kansas City and Memphis Railway and Bridge Bonds. — Total amount authorized and issued, $3,000,000, of which $138,000 have been purchased through operation of sinking fund. Sinking fund consists of $10,000 per annum, plus interest accumulation on bonds in hands of trus- tees. These bonds are drawable at 110 and accrued interest, if not purchasable at that price Mortgage is a lien on bridge and approaches at Memphis, Tenn., 2.85 miles. Mortgage provides for sale of bonds held by trustee, in sinking fund, to the extent that they may be required for extraordi- nary repairs or renewals of the bridge. Amount of bonds alive in hands of trustees, $138,000. (26) Kansas City, Memphis and Birmingham RR. General Mtge. Bonds. — Total amount au- thorized, $4,500,000, of which $3,323,390 have been issued. Mortgage is a first lien on entire line, Memphis, Tenn., to Birmingham, Ala., and branches, 285.66 miles. In the refunding mortgage of the Kansas City, Fort Scott and Memphis Ry. Co. provision is made for retiring these bonds when they mature. (27) Kansas City, Memphis and Birmingham RR. Income Bonds. — Total amount authorized $7,000,000, of which $6,322,780 have been issued. On Feb. 1, 1902, the Kansas City, Fort Scott and Memphis Ry. Co. offered, through the Old Colony Trust Co., of Boston, Mass., to pay the inter- est on these bonds, beginning March 1, 1902, at the fixed rate of 5 p. c. per annum, payable semi- annually on the first days of March and Sept., in consideration of the holders giving an option to purchase assenting income bonds, on 60 days' notice, at 95 p. c. As of June 30, 1902, the hold- ers of $5,557,000 of the bonds had assented to the proposition. In the refunding mortgage of the Kansas City, Fort Scott and Memphis Ry. Co. provision is made for retiring these bonds when they mature. (28) Birmingham Equipment Co. 1st Mtge. Bonds. — Total amount authorized and issued, $1,000,000, of which $87,000 were exchanged for K. C., M. & B. RR. Co. gen. mtge. and income bonds. Entire issue may be redeemed at 110, on 60 days' notice. These bonds will be replaced by issue of refunding bonds of the Kansas City, Fort Scott and Memphis Ry. Co., reserved for that purpose. (29) Memphis Equipment Co. 1st Mtge. Bonds. — Total amount authorized, $1,000,000, of which $189,000 have been issued for new equipment purchased. Outstanding bonds are subject to purchase at 110 and accrued interest, upon 60 days' notice. Sinking fund originally provided for the redemption of at least $12,000 of these bonds per annum, but was abrogated March 1, 1894, since which date the sinking fund has been only the interest accumulation on bonds in hands of trustees. Amount of bonds alive in hands of trustees, $69,000. These bonds will be replaced by issue of refunding bonds of the Kansas City, Fort Scott and Memphis Ry. Co. reserved for that pur- pose. (30) Fort Worth and Rio Grande Ry. 1st Mtge. Bonds. — Amount authorized and issued. $2,923,000. Bonds are a first mortgage on line from Ft. Worth, Tex., to Brownwood, Tex., 146.16 miles, and equipment thereon. In the refunding mortgage of the St. Louis and San Francisco RR. Co. provision is made for the retirement of these bonds at or before maturity. 15. St. Louis, Memphis and Southeastern Purchase Collateral Trnst Notes. — The $12,500,000 capital stock of the St. Louis, Memphis and Southeastern RR. Co. (see Sec. 4) has been deposited with the Eastern Trust Co. of New York, trustee, as security for an issue of $4,000,000 of 4 p. c. collateral trust notes of the St. Louis and San Francisco RR. Co. The trust notes are dated Nov. 1, 1902, and will mature Nov. 1, 1942, but are subject to redemption at par and accrued Interest on or at any time after July 1, 1904, on 30 days' notice. 16. Equipment Trust Notes, Blair & Co. — On Dec. 1, 1901, an agreement was made with Blair & Co. for the purchase of additional equipment, whereby this company issued equipment notes dated Dec. 1, 1901, to the amount of $1,310,000, bearing interest at the rate of 4 p. c. per annum, and payable in twenty semi-annual installments of $65,000 on each first day of June and $66,000 on each first day of Dsc., all redeemable at par and accrued interest on any interest payment date. One note of $65,000 which matured June 1, 1902, was paid, and the remainder appears in the balance sheet as a liability in offset to the value of equipment. 17. Construction Advances. — Advances had been made at June 30, 1902, to roads under construction and for surveys, as follows: Red River, Texas and Southern Ry. Co., $1,161,198 ; Tay- lor City Belt Ry. Co. (World's Fair connection), $22,413.97; Central Belt Ry. Co. (St. Louis), $11,112.66 ; miscellaneous surveys, etc., $28,079.46 — total, $1,222,804.09. The company will be reimbursed for these advances. As the company has not as yet deemed it best to sell any of its treasury holdings of refunding bonds, it borrowed in June, 1902, $840,000 for part of the advances made as above for construction purposes. This accounts for the item of notes payable on the bal- ance sheet. POOR'S MANUAL ST. LOUIS AND HAN FRANCISCO RR. CO. 541 18. Franchises and Property. — Statement showing details of increase in fran- chises and property, St. Louis and San Francisco RR. Co., as of June 30, 1902: Cost of franchises and property as of June 30, 1901 $93,026,508 90 Amount of St. Louis, Oklahoma and Southern Ry. Co., 1st Mortgage 4 p. c. Bonds issued for construction of road — Sapulpa, Ind. T., to Sherman, Tex., a distance of 207.26 miles, and for equipment for same, 4,650 Bonds Nos. 1 to 4,650 4,650,000 00 Difference between amount set aside and deposited with the Mississippi Valley Trust Co., to take up five Kansas Midland Ry. Bonds and coupons at the rate of $286 22 per bond, and $4.85 per coupon, and amount paid for two of the above named bonds Nos. 17 and 991 — Amount paid, $1,000 ; amount set aside for payment of same, $582.14 417 86 Purchase price of $247.50 of Atlantic & Pacific RR. Central Division, Income Bond Scrip and $1,100 of St. L. & S. F. Ry. Co., Consolidated Mortgage 4 p. c. Bonds.. 442 47 Purchase price of 30,442 shares of Ft. Worth & Rio Grande Ry. Co. stock 1,369,257 26 Expenditures for New Improvements, $760,770.51 ; Additional Equipment, $643,- 679.37_total 1,404,449 88 Purchase price of one-half interest in Kansas Southwestern Ry. 59.35 miles, Arkansas City to Anthony 181,045 25 Franchises and Property Account as of June 30, 1902 $100,632,121 62 19. Treasury Securities. — Statement of system securities owned (held in property account and in current assets), as of June 30, 1902: Bro K:. Face Value. Book Value. BONDS AND SCRIP. Face Value. Book Value. In Property Account. Arkansas Coal & Mining Co $ 11,250 00 300,000 00 48,300 00 6,447 10 53 00 1,692,295 40 100,000 0(T . 175 00 1,100 00 4,500 00 90000 3,500 00 4,500 00 2,500 00 500 00 1,100 00 1,500 00 900 00 3,500 00 900 00 100,000 00 100,000 00 , 180,900 00 i-* $ 11,100 00 8,983 04 176 56 6,447 10 53 00 1,692,295 40 20,836 55 In Property A ccount. Eureka Improvement Co. 7s. ... Atlantic * Pacific RR. Co., Cen- tral Division, Land Grant Scrip $ 25,00000 56400* t 5,00000 Peirce City Real Estate Co St. L. & San Francisco RR. Co. Total Bonds and Scrip Second Preferred Stock. 25,564 00 5,000 00 2,590,384 50 3,091,000 00 1 125 00)" 1,000 00 452,500 00 1,744,891 65 3,005,741 54 1,230 00 452,500 00 Ft. Smith & Van Buren Bdge.Co Ft. Smith & Southern Ry. Co. . . Fayetteville & Lit. Rock RR.Co. In Current Assets. tSt.L.&S.F.RR.Ref.4s St. L. & S. F. RR. Con. 4s, scrip St. L. & S. F. Ry. Trust Mtge. of 1880, 6s Little Rock & Texas Ry. Co Paris & Great Northern RR. Co. Pittsburg & Columbus Ry. Co . . St. L., Wichita & West. Ry. Co . St. L., Arkansas & Texas Ry.Co. Springfield & Northern Ry. Co. . Springfield & Southern Ry. Co. . Springfield Connecting Ry. Co. . St. L. A Oklahoma City RR. Co. Oklahoma City Terminal RR.Co International Equipment Co. . .. So. Mo. i Arkansas RR. Co. . . . Total Stocks The K. C., Ft. S. & M. Ry. Ref. 4s Total in Current Assets Total Securities 3,544,625 00 3,459,471 54 2,564,820 50 1,739,891 65 6,135,009 50 5,204,363 19 •Against which is set the Nominal Book Value of $1 to preserve the record. tOf this amount $600,000 is held by banks as collateral. 2O. Capital stock and bonded debt outstanding, and showing amount of each per mile of road during six years to June 30, 1902: Years. Mileage Owned. CAPITAL STOCK. BONDED DEBT. Interest Charged Per Mile. Amount Outstanding. Per Mile. Amount Outstanding. Per Mile. 1897. . . 1,162.05 1,282.13 1,385.39 1,548.85 1,703.91 3,288.21 $ 44,590,812 45,603,704 45,616,404 45,616,404 46,578,204 48,385,104 S 38,372 54 35,568 71 32,926 76 29,451 79 27,336 07 14,723 68 S 37,618,850 39,437,100 41,708,350 45,014,225 46,471,125 *122,693,455 $ 32,372 32 30.759 05 30,105 85 29,063 02 27,273 23 37,335 85 $ 1,716 38 1,589 54 1,537 85 1,448 06 1,339 15 1,465 60 1898 1899 1900 1901 1902 * Includes guaranteed Trust Certificates of The Kansas City, Ft. Scott and Memphis Ry. Co. 542 POOR S MANUAL OP RAILROADS — SOUTHWESTERN GROUP. 21. Statement of stocks and bonds pledged as security for funded debt as of June 30, 1902: NJJMJ Deposited under Con sol. Mtge. Deposited under Trust Mtge. of 1880. Deposited under Trust Mtge. of 1887. Deposited under Refunding Mtge. Deposited under K. C., F. S. & M. Ry. RefdgMtge. STOCKS: Fort Smith & Van Buren Bridge Co $ 499,825 $ $ $ $ P'ort Smith & Southern Ry. Co 166,400 Joplin Ry. Co 715,100 Springfield & Northern Ry. Co 998,500 Springfield & Southern Ry. Co 599,100 St. Louis, Arkansas & Texas Ry. Co 3,498,900 St. Louis, Wichita & Western Ry. Co. . . 958,500 St. Louis 008 66 300 434 60713 641 68 759 4S3 68 038 869 71 301 192 83741 405 NOTE. — Funded debt includes equipment obligations in each year, and Includes $339,000 bonds ol the Gray's Point Terminal Ry. in 1899, 1900, 1901 and 1902. 552 I'OOR 8 MANUAL OF RAILROADS — SOUTHWESTERN GROUP. 9. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $67,067,250 00 Gray's Point Term. Ry. Leasehold. . 339,000 00 Real Estate 27,32795 Stocks and Bonds Owned (see below). 7,121,039 21 Other Permanent Investments 4,663 97 Materials and Supplies 507,26695 Cash 5,881,43656 Current Assets 1,136,11800 Trust Equipment Unpaid Balance... 1,657,30251 Total Assets $83,741,405 15 Common Stock ($100 shares) $16,500,000 00 Preferred Stock ($100 shares) 20,000,00000 Funded Debt Outstanding 42,054,75000 Gray's Point Terminal Ry. Co. Bonds. 339,000 00 Equipment Trust Obligations 1,736,43787 Interest on Bonds, Due and Accrued. 417,426 04 Sundry Accounts Payable 700,044 92 Hospital Fund 13,71573 Reserve Funds 522,013 50 Profit and Loss 1,458,017 09 Total Liabilities $83,741,40515 10. Capital Stock. — The authorized capital stock is $55,000,000, consisting of $20,000,000 5 p. c. non-cumulative preferred stock and $35,000,000 common stock. 11. Funded Debt. — The funded debt, as per general balance sheet of June 30, 1902, con- sisted of certificates for $20,000,000 1st gold 4s of Nov. 1, 1989, and $10,000,000 2d income gold 4s of Nov. 1, 1989, and of $12,054,750 1st consol. gold 4s of June 1, 1932. Of the 2d mtge. Income bond certificates, $6,727,500 are deposited with the trustee under the 1st consolidated mortgage, leaving only $3,272,500 of that issue actually outstanding. The two issues of bond certificates represent 1st mtge. bonds and 2d mtge. bonds of the constituent companies deposited with the trus- tees— $9,895,000 1st mtge. bonds and $4,947,500 2d mtge. income bonds secured on the St. Louis Southwestern Ry., exclusive of the Stuttgart Branch ; $9,445,000 1st mtge. bonds and $4,722,500 2d mtge. income bonds of the St. Louis Southwestern Ry. Co. of Texas ; $660,000 1st mtge. bonds and $330,000 2d mtge. income bonds of the Tyler Southeastern Ry. Co. (secured on the Lufkin Branch of the St. L. S. W. Ry. of Tex.). Interest on 2d mtge. bonds, at the rate of not exceeding 4 p. c. per annum, non-cumulative, is declared in Oct. and April, if earned in the preceding calendar half years, and is payable on Jan. 1, or July 1 following the declaration. First Consol. Mtge. Gold Bonds. — These bonds are authorized to the amount of $25,000,000. The outstanding bonds were issued, $6,000,000 of them to provide for present capital requirements, including the retirement of the equipment obligations and the remaining $6,054,750 in exchange for $6,727,500 2d mtge. income bond certificates. The unissued bonds are reserved — $2,945,250 for the retirement of the $3,272,500 2d mtge. income bond certificates still outstanding at the rate of exchange of $900 consols for $1,000 income bonds, and $10,000,000 (together with any surplus bonds not used or required for refunding the 2d mtge. income bonds) for the acquisition of branch lines, at a rate not exceeding $20,000 per mile, and for betterments, additions and new equipment. The bonds are secured upon the entire property of the company, subject to prior liens, and are addi- tionally secured by deposit of the $6,727,500 of 2d mtge. income bonds already exchanged. They are secured by first mortgage on the property formerly owned by the Stuttgart and Arkansas River RR. Co., including the line from Stuttgart to Gillctt, Ark., 34.8 miles, and will be secured on any additional lines and property acquired with their proceeds, either by direct mortgage or by deposit of the securities representing the ownership of such additional lines and property. By the terms of the mortgage all securities deposited as collateral under it are to be first made non-negotiable ; and provision is also made for the cancellation of deposited bonds as fast as the whole of any issue is delivered to the trustee of this mortgage. It is also provided that any income received from securities deposited as collateral shall constitute a sinking fund (a) for the purchase of bonds se- cured by the mortgage, or of 2d mtge. income bonds, and (b) for the acquisition of additional prop- erty (to be covered by the mortgage) ; any bonds acquired through the operation of the sinking fund to be deposited under the mortgage as additional security therefor. 12. Guaranteed Bonds. — The Gray's Point Terminal Ry. Co. 1st gold 5s of Dec. 1, 1917, are guaranteed, both as to principal and interest, by the St. Louis Southwestern Ry. Co., by endorse- ment on the back of each bond. They are secured on all of the property of the Gray's Point Ter- minal Ry. Co. The mortgage provides that the bonds may be issued at not exceeding the rate of $15,000 per mile, " for each mile of main line and side track or terminal track," whether now owned or hereafter acquired. 13. Equipment Trust Obligations. — The notes outstanding on June 30, 1902, were of eighteen issues, payable as follows : $554,912.96 during the year ending June 30, 1903 ; $423,- 582.54 during the year ending June 30, 1904 ; $315,123.09 during the year ending June 30, 1905 ; $177,957.26 during the year ending June 30, 1906 ; $171,974.16 during the year ending June 30, 1907, and $92,887.86 during the year ending June 30, 1908. Since the close of the fiscal year over 97 p. c. of the total amount of equipment trust obligations outstanding, as above, have been ac- quired from the proceeds of sale of first consol. mtge. bonds. The notes so purchased are kept alive as security for the new bonds. 14. Stocks and Bonds Owned. — Second mortgage income bond certificates, St. L. S. W. Ry. Co., $6,727,500; preferred stock, St. L. S. W. Ry. Co., $106,350; common stock, St. L. S. W. Ry. Co., $143,900 ; $56,000 capital stock and $56,000 1st mtge. bonds of the Paragould Southeastern Ry. Co. ; $200,000 capital stock and $50,000 1st mtge. bonds of the Pine Bluff Ark. River Ry. ; $500,000 capital stock and $33,000 1st mtge. bonds of the Gray's Point Terminal Ry. Co. ; $10,000 capital stock, So. 111. and Mo. Bridge Co., part paid ; $15,000 capital stock, La. Pur. Expo. Co., part paid ; $5,000 1st mtge. bonds of the Citizens L. & Transit Co., Pine Bluff, Ark. — total, par value, $7,902,750; book value (as per balance sheet), $7,121,039.21. 15. RAILROADS OWNED OR CONTROLLED BY THE ST. L. S. W. RY. Co. GRAY'S POINT TERMINAL RY Delta to Gray's Point, Mo., 16.4 m. ; total track ( steel ; 55 Ibs.), 22.6 miles. Chartered May 23, 1896; road opened Nov. 21, 1898. Leased to the St. Louis Southwestern Ry. Co., for 60 years from Dec. 1, 1897, the lessee guaranteeing $339,000 1st mtge. 5 p. c bonds, both principal and interest. The lessee owns the capital stock, and in its accounts are included those of this company. S. W. For- dyce, Pres. ; S. H. West, Vice-Pres. & Sec. ; G. K. Warner, Treas., St.Louis, Mo. Office, St.Louis.Mo. ST. LOUIS SOUTHWE STERN RY. CO. OF TEXAS. — Mileage, rolling stock, operations, etc., are Included in the main statement, which see. Balance sheet, June 30, 1902. — Capital stock ($100 shares), $2,750,000; funded debt (see above), $15,- 157,500; other debt, $3,386,666 — total, $21,294,166. Contra : Cost of road and equipment, $17,907,500 ; POOR S MANUAL — ST. LOUIS SOUTHWESTERN SYSTEM. 553 other assets, $594,634 ; profit and loss, $2,792,032 — Britton, Pres., St. Louis, Mo. ; R. D. Cobb, Sec. ; total, $21,294,166. Funded debt Includes the bonds J. W. Hogan, Treas., Tyler, Tex. Office, Tyler, of the Tyler Southeastern Ry., which were as- Tex. sumed In the consolidation of Oct. 6, 1899. F. H. 16. Board of Directors, St. Louis Southwestern Ry. Co., elected October 1, 1902. Thos. T. Eckert.New York.N.Y. Winslow S. Pierce. Win. H. Taylor... EDWIN GOULD, President New York, N. Y. F. H. Britton, V ice-President and General Manager .... St. Louis, Mo. Wm. A. Hamilton; V ice-President New York, N". Y. Secretary — George Erbelding New York, N. Y. General Auditor — S. C. Johnson... St Louis, Mo Treas. & Asst. Sec. — G. K. Warner. . St. Louis.Mo. General 8upt. — W. E. Green Tyler, Tex PRINCIPAL OFFICE AND ADDRESS St. Louis, Mo. Edwin Gould... Irvington, N. Y. F. H. Britton. ...St. Louis, Mo. R.M. Gallaway. . New York.N.Y. E. T. Jeffery.... New York.N.Y. Murray Carleton..St. Louis, Mo. Charles Parsons... " " ST. LOUIS SOUTHWESTERN SYSTEM— Railroads Controlled by the St. Louis Southwestern Ry. Co. but Operated Separately. DALLAS TERMINAL RY. AND UNION DEPOT CO.-ln city of Dallas, Tex., 4.68 m.; total track (steel; 60 Ibs.), 5.99 miles. Gauge, 4 ft. 8j^ in. The road connects all lines centering in the city of Dallas. History. — Chartered on Dec. 10, 1894; opened for business on Jan. 1, 1896. Charter amended Jan. 10, 1899, changing the name to Dallas, Fort Worth and Gulf By. Co. Purchased in 1901 by the St. Louis Southwestern Ry. Co., and company reorganized as of Jan. 1, 1902, under its original title. Financial Statement, Jan. 1, 1903. — Capital stock ($100 shares), $500,000. Funded debt, $80,000 1st mtge. 6 p. c. 30-yr. gold coupon bonds, with privilege of registration. Cost of road to date, $300,000. Directors.— W. C. Connor, Alex. Sanger, Philip Sanger, W. O. Connor, C. A. Keating, J. T. Trezevant, E. M. Reardon, Dallas, Tex. OFFICERS: W. C. CONNOR, Pres.; Alex. Sanger, Vice-Pres.; E. M. Reardon, Treas.; H. T. Allen, Sec., Dallas, Tex. GENERAL OFFICE, Dallas, Tex. PARAGOULD SOUTHEASTERN RY.— Paragould, Ark., to Hornersville, Mo., 22.04 m.; total track (steel; 35 and 56 Ibs.), 24.71 miles. Trackage: St. L. S. W. Ey., Paragould June, to Union Depot, 0.75 mile. Gauge, 4 ft. 8J^ in. History. — Chartered Aug. 9, 1893, as successor to Paragould and Buffalo Island RR. Co. The extension to Hornersville, 9.99 miles, was opened for traffic Oct. 25, 1897. A further extension from Hornersville, Mo., to Blythesville, Ark., 15 miles, has been put in operation since the close of the fiscal year. Rolling Stock, June 30, 1902.— Locomotives, 3. Cars — passenger, 2; freight (box, 3; flat, 1), 4— total, 6. Operations, year ending June 30, 1902. — Trains run (passenger, 23,354; mixed, 10,548), 33,902 miles. Passengers carried, 44,363; carried one mile, 437,541; tons freight moved. 51,773; moved one mile, 667,410. Earnings (passenger, $16,816; freight, $46,773; other, $5,418), $69,007. Operating expenses, $45,896. Net earnings, $23,111; other receipts, $802— total, $23,713. Payments: Interest on bonds, $6.000; taxes, $1,287; other deduction, $390 — total, $7,677. Surplus, $16,036; surplus forward, $42,- 813— total, $58,849. Deductions during the year, $291. Surplus, June 30, 1902, $58,558. General Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $100,000; funded debt (1st 6s of 1913), $100,000; current liabilities, $24,141; profit and loss; $58,558 — total, $282,699. Contra: Cost of road, etc., $258,587: materials, etc., $12,694; cash, $11,418 — total, $282,699. The St. Louis Southwestern Ry. Co. owns $56,000 of the bonds and an equal amount of the capital stock. Directors (elected Aug. 19, 1902).— W. C. Hasty, A. Bertig, Paragould, Ark.; F. H. Britton, St. Louis, Mo.; W. E. Green, Tyler, Tex.; J. C. Hawthorn, Jonesboro, Ark. OFFICERS: F. H. BRITTON, Pres., St. Louis, Mo.; J. M. Lowe, 1st Vice-Pres. & And.; A. Bertig, 2d Vice-Pres.; J. S. Yates, Treas.; D. Loeb, Sec., Paragould, Ark. GENERAL OFFICE, Paragould, Ark. PINE BLUFF ARKANSAS RIVER RY.— Rob Roy to Reydel, Ark., 25.5 m.; trackage: St. L. S. W. Ry., Pine Bluff to Rob Roy, Ark., 7.5 m.— total operated, 33 miles. Sidings owned, 1.05 miles. Rail (steel, 21.05 m.), 40 Ibs. Gauge, 4 ft. 8y2 in. 554 POOR'S MANUAL OP RAILROADS — SOUTHWESTERN GROUP History.— Chartered Jan. 6, 1898. as successor to the Pine Bluff and Eastern RK. Co. (see MANUAL for 1897, page 215). An extension, English to Reydel, 5.5 miles, was completed and put into operation in the fall of 1902. Rolling Stock, June 30, 1902. — Locomotive, 1. Cars — passenger, 1; baggage, etc.. 1; freight (flat), 2— total, 4. Operations, year ending June 30, 1902 (average 27.5 miles). — Trains run (mixed), 19,632 miles. Passengers carried, 19,532; carried one mile, 283,183. Tons freight moved, 17,062; ton-miles, 324,178. Earnings, (passenger, $8,214; freight, $24,957; other, $1,074), $34,245. Operating expenses, $19,703. Net earnings, $14,542. Payments: Interest on bonds, $5,000; taxes, $918; other charges, $18 — total, $5,936. Surplus, $8,606; surplus forward, $4,011— total, $12,617. General Balance Sheet, June 30, 1902.— Capital stock, ($100 shares), $200,000; funded debt (1st gold 5s of Feb., 1928, $200,000 auth.), $100,000; interest accrued, $2,083; other liabilities, $2,712; profit and loss, $12,617— total, $317,412. Contra: Cost of road and equipment, $300,000; materials, etc., $3,124; cash and current assets, $14,288 — total, $317,412. Since the close of the fiscal year $26,000 additional bonds have been authorized on the extension from English to Eeydel, Ark. Directors (elected Jan. 5, 1903).— Wm. H. Langford, J. M. Taylor, E. A. Peck, Pine Bluff, Ark.; F. H. Britton, St. Louis, Mo.; W. H. Taylor, New York, N. Y. OFFICERS: WM. H. LANGFORD, Pres. & Treas.; C. G. Loving, Asst. to Pres.; J. M. Taylor, Vice-Pres.; J. G. Taylor, Sec., Pine Bluff, Ark. GENERAL OFFICE, Pine Bluff, Ark. TEXAS AND PACIFIC RAILWAY COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 10 Directors and Officers 12 Earnings, Exp., etc., 1901-02. 4 Earnings, Exp., etc.,1896-1902. 5 Funded Debt, Details of 11 Gen. Assets, Dec. 31, 1902.... 6 Gen. Bal. Sheet, Dec. 31, 1902. 9 History 2 Income Acct., Dec. 31, 1902... 4 Land Grant 8 Mileage Operated 1 Operations, 1896-1902 5 Rolling Stock 3 Securities in Treasury 7 1. Mileage Operated, Dec. 31, 1902 (owned, 1,652.08 miles). Louisiana Division : New Orleans to Shreveport, La 326.04 miles. Transcontinental Division: T. C. June., via Whitesboro to Ft. Worth, Tex. 239.22 Eastern Division: Texarkana via Marshall to Fort Worth, Tex 252.81 Rio Grande Division: Fort Worth to Sierra Blanca, Tex 521.49 Marshall Section: Reisor to Marshall, Tex 34.13 Port Allen Branch: Baton Rouge to end of track, La 80.00 Indian Village Branch: Plaquemine to Indian Village, La 7.12 Westwego Branch: Westwego Junction to Westwego, La 1.00 Coal Branches : Main Line to Coal Mines 6.29 La Fourche Branch: Donaldsonville to Thibodeaux, La 28.20 Texarkana District : Texarkana to Shreveport, La 71.24 Natchitoches Branch: Cypress to end of track, La 50.84 Avoyelles Branch: Bunkie to Marksville and Simmesport, La 34.20 TRACKAGE : Galv., Harrisb. & San- Antonio Ry. : Sierra Blanca to El Paso, Tex. 93.00 Total length of lines operated, Dec. 31, 1902 1,745.58 miles. Sidings, etc., 397 miles. Gauge, 4 ft. 8y2 in. Rail (steel, 1,726 m.), 56, 63 and 75 Ibs. 2. History. — Organized under Act of Congress, March 3, 1871, and the general railroad laws of the State of Texas, and acquired the properties of the Southern Pacific, the Southern Transcontinental, and the Memphis, El Paso and Pacific RR. Cos. Re- organized after foreclosure sale on Nov. 8, 1887. (See MANUAL for 1899, page 594, and MANUAL for 1902, page 503.) At the close of the fiscal year construction was in progress on an extension of the Port Allen Branch to Concordia, about 29 miles, and on an extension of the Natchitoches Branch to Shreveport, abdut 30 miles.) Between Sierra Blanca and El Paso, 93 miles, the track is used jointly with the Galveston, Harrisburg and San Antonio Ry., this company paying one-half taxes, station expenses, and cost of maintenance, and also 6 p. c. on $10,000 per mile. The company owns the Denison and Pacific Suburban Ry., extending from Sherman to Denison, Tex., 7.3 miles, but that road is operated separately. (See MANUAL for POOR S MANUAL — TEXAS AND PACIFIC RY. CO. 555 1896, page 912; also subjoined statement for D. & P. S. Ry.) Under the terms of the contract covering the construction of the road the capital stock and bonds of the Denison and Pacific Suburban Ry. Co. were delivered to the Texas and Pacific Ry. Co. during the year 1900, and are held in the treasury of the company. 3. Rolling Stock, Dec. 31, 1902. — Locomotives, 311. Cars — passenger, 62; com- bination, 20; excursion, 1; business, 3; chair, 23; baggage and express, 31; baggage and mail, 16; postal, 4; freight (box, 6,470; flat, 1,389; stock, 148; coal, 851; tank, 8; refrigerator, 10; fruit, 30; caboose, 140), 9,046; service, 406 — total, 9,612. The company also owns 2 transfer steamers. 4:. General Income Account, year ending December 31, 1902. Expenses— Maint. of Way and Struc... $1,560,616 81 Maintenance of Equipment. 1,410,592 73 Conducting Transportation. 4,423,020 94 General Expenses 358,059 42 Total ($4,568.23 per mile) $7,752,289 90 Earnings— Passenger $2,557,896 36 Freight 7,766,914 45 Mail and Express 499,64666 Miscellaneous 412,14365 Total ($6,621.45 per mile) $11,236,601 12 Net earnings (31.01 p. c), $3,484,311.22; add other receipts (Westwego Elevator, $33,200; land sales, $19,385.07; interest and premiums, $95,245.10), $147,830.17— total, $3,632,141.39. Payments: Interest on funded debt, $1,428,459.17; taxes, $284,514.39; Westwego fire claims, $163,641.94; sundries, $37,423.59 — total, $1,914,039.09. Surplus, $1,718,102.30; deficit from previous year (credit balance Dec. 31, 1901, $3,220,439.41; less dividend on income bonds, March 1, 1902, $1,161,900; transferred to improvement and equipment account, $2.207,358 — total debit, $3,369,258), $148,818.59; balance to credit, Dec. 31, 1902, $1,569,283.71. 5. Comparative statement of traffic operations, earnings, expenses, etc., for seven years ending Dec. 31 : 1896 1897 1898 1899 1900 1901 1902 Miles of RR. (aver.)- .. Passenger Train Miles. Freight Train Miles. . . 1,499 2,003,510 2,709,773 1,499 1,888,440 3,319,982 1,004,870 58,738,584 2,366,689 548,323,830 $ 1,463,628 5,685,170 439,851 1,499 2,037,214 3,372,693 1,206,162 74,261,323 2,359,872 512,005,537 $ 1,768,772 5,768,602 469,129 1,492 2,028,796 3,330,025 1,304,068 78,892.315 2,606,980 502,534,762 S 1,878,086 5,744,743 677,357 1,527 2,200,410 3,738,244 1,506,508 85,999,435 2,891,322 670,117,052 $ 2,117,377 6,869,302 764,442 1,684 2,311,894 4,521,951 1,839,338 101,962,714 3,792,692 882,755,595 $ 2,545,421 8,396,681 827,840 1,697 2,443,136 3,858,418 1,957,593 111,824,972 3,815,682 732,442,848 8 2,557,896 7.766,915 911,790 Passengers Carried. . . Passenger Mileage. . . . Freight (tons) Moved.. Freight (ton) Miles Earnings — Passenger . Freight... . Misc. . . 996,161 60,183,992 1,874,739 414,477,264 S 1,532,846 4,847,201 445,098 Gross Traffic Earnings Transportation Exp. . Net Traffic Earnings. . Int., Betterments, etc. Surplus Revenue*. . . . Gross Earn, per Mile. . Oper. Exp. per Mile. . . Net Earnings per Mile. Expenses to Earnings. Av.Rate p.Pnss.p.Mile Av.Rate p.Ton p.Mile. 6,825,145 5,153,578 7,588,649 5,414,109 8,006,503 5,648,571 8,300,186 5,848,866 9,751,121 6,581,632 11,7*9,942 8,034,450 11,236,601 7,752,290 1,671,567 1,787,112 2,174,540 1,876,869 2,357,932 2,484,559 2,451,320 2,134,912 3,169,490 2,221,390 3,735,492 2,611,649 3,484,311 1,914,039 def. 115,545 4,553 13 3,438 01 1,115 12 75.51 p. c. 2.55 c. 1.17 « 297,671 5,062 47 3,611 82 1,450 65 71.34 p. c. 2.48 c. 1.04 c. def. 126,627 5,341 23 3,768 22 1,573 01 70.55 p. c. 2.38 c. 1.13c. 316,408 5,563 13 3,902 15 1,642 98 70.47 p. c. 2.38 c. 1.02c. 948,100 6,385 80 4,310 11 2,075 69 67.50 p. c. 2.46 c. 1.03 c. 1,123,843 7,203 15 4,917 04 2,286 11 68.26 p. c. 2.49 c. 0.95 c. 1,570,272 6,621 45 4,568 23 2,053 22 68.99 p. c. 2.29 c. l.OSc. •Not including miscellaneous income. 6. General Anset«. — These consisted of the following : Gordon Coal Mine Property, $141,- 440.27; grain elevators, Westwego, La. ("A," $95,159.07; "B," $385,231.24), $480,390.31; sink- Ing fund 1st mtge. Eastern Div. bonds, $22,315 ; materials on hand, $615,693.55 ; new equipment, $2,063,513.11; insurance fund, $121,802.95 — total, $3,445,155.19. 7. Securities In Treasury. — The following were in the treasury of the company on Dec. 31, 1902 : Texas and Pacific 2d mtge. income bonds, $1,762,000 ; Denison and Pacific Suburban Ry. Co. bonds and stock, $200,000 ; other securities, $62,922.84 — total, $2,024,922.84. 8. Land Grant. — Under the reorganization in 1887 the lands of this company were disposed of to the Texas Pacific Land Trust, organized by the holders of land bonds, for the purpose of ac- quiring the lands. In June, 1888, there were issued $10,370,000 of certificates of proprietary in- terest, in accordance with a declaration of trust, dated Feb. 1, 1888, made by Charles J. Canda. 556 POOR S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Simeon J. Drake and William Strauss, filed with the Central Trust Co. of New York. (See MANUAL for 1888. page 824.) During the year 1902 town lots to the number of 354 were sold for $14,052.60, an average of $39.70 each. Sales of land during the year amounted to 2,929J acres for $8,619.75, an average of $2.94 per acre. The assets of the Land Department at the close of the year 1901 consisted of a very large number of town lots, situate in some 58 towns along the line, and 67,444 acres of land situate in 14 different counties ; also $36,910.24 in bills receivable and $8,200.56 cash on hand. 9. General Balance Sheet, December 31, 1902. Cost of Road and Equipment $80,550,379 15 Louisiana Branch Lines 4,193,23434 Sulphur Cut-off 137,98373 * Capital Stock N. O. Pac. Ry. Co.... 6,712,900 00 General Assets ( see Sec. 6) 3,445,155 19 Securities in Treasury (see Sec. 7)... 2,024,922 84 Cash 250,23732 Accounts Collectible 1,250,66903 Land Notes Receivable 36,910 24 Capital Stock $38,760,51000 Funded Debt (see Sec. 11) 53,141,911 99 Interest Scrip, Income and Land Grant Bonds (retirable under the provisions of Reorganization Agree- ment with Income and Land Giant Bondholders) 138,80200 Other Scrip 8,16962 Equipment Obligations 1,691,00974 Current Liabilities 3,258,237 64 Donated Land and Town Lot Sales.. 34,367 24 Income Account Credit Balance 1,569,283 71 Total Assets $98,602,29184 Total Liabilities $98,602,29184 * This is not an available asset in any sense, but is held by the company simply to protect certain rights and franchises appertaining to its line in the State of Louisiana. 10. Capital Stock. — The authorized capital stock is $50,000,000 in $100 shares, the amount unissued being available for future needs of the company. 11. Funded Debt.— The funded debt outstanding on Dec. 31, 1902 — total, $53,141,911.99, as per general balance sheet — consisted of $7,000 old 6 p. c. bonds unredeemed and the following live issues (additional particulars are in .the Ready Reference Bond List — see General Index) : $2,941,OOO Eastern Division 1st gold sinking fund 6s of March I, 1905, secured on the line from Texarkana and Marshall to Fort Worth. There is a sinking fund provision in the mortgage for redemption each year of 2 p. c. of the bonds out- standing, at par. $22,063,333.78 1st consol. gold 5s of June 1, 2,000, secured on all the property and assets of the company, of whatever name or nature, ex- cept such as are covered by the lien of the new Louisiana Division Branch Lines Mortgage, but subject in lien to the Eastern Division 1st mtge. bonds on the line from Texarkana and Marshall to Fort Worth. For the retirement of these prior lien bonds $2,941,000 of the 1st consol. mtge. bonds are reserved by the trustee. $24,981,578.21 2d consol. income gold 5s of Dec. 1, 2000, secured on the same property as the 1st consols, but subject to the lien thereof. In- terest is payable only to the extent that the yearly net earnings will permit, and is non-, cumulative. The first payment of interest, 1J p. c., was made on March 1, 1900 ; the second, 4 p. c., on March 1, 1901 ; the third, 5 p. c., on March 1, 1902, and the fourth, 5 p. c., on March 1, 1903. In connection with the last payment, bondholders were offered the privilege of sub- scribing at 80 for such an amount of bonds of the same issue held in the treasury of the com- pany as would be equal to the amount of interest due to them. The mortgage provides that in 12. Directors (elected March 18, 1903).— Samuel Sloan, R. M. Gallaway, John T. Terry, George J. Gould, Thomas T. Eckert, Russell Sage, E. T. Jeffery, C. E. Satterlee, Howard Gould, John P. Munn, Frank Jay Gould, Winslow S. Pierce, Louis Fitzgerald, A. L. Hopkins, Edwin Gould, James H. Hyde, New York, N. Y. ; L. S. Thome, Dallas, Tex. GEORGE J. GOULD, President New York N. Y. L. S. Thome, Vice-President and General Manager Dallas, Tex. A. C. Bird, V 'ice-President Chicago, 111. Frank Jay Gould, V ice-President New York, N. Y. case of the non-payment of full interest in any year, the trustee may take possession of the property and manage it under the direction of a committee of the bondholdeis. It is also pro- vided that if, in the opinion of two-thirds of the directors, it becomes necessary to build or ac- quire branch lines, the interest on expenditures for such purposes up to $12,500 per mile shall be made a rental charge to take precedence of the interest on the 2d consol. mtge. bonds. Holders of these bonds have the privilege of exchanging them for 65 p. c. of their face value in unifying and refunding mortgage bonds of the St. Louis, Iron Mountain and Southern Ry. Co. $3,161 ,OOO Louisiana Division Branch Lines \st gold of Jan. 1, 1931. These bonds are authorized to the amount of $7,000,000, for the construction or acquisition of extensions and branch lines in the States of Louisiana and Arkansas, at the rate of $12,500 per mile of con- structed and equipped road. The bonds out- standing were issued to reimburse the company the cost of the lines constructed during 1900-1901, to replace $312,000 of bonds secured on the Port Allen Branch, and to pay for the railroads pur- chased ( see Sec. 2) . These bonds cover the Port Allen Branch, 80 miles ; the La Fourche Branch, 28.2 miles ; the Avoyelles Branch, 34.2 miles ; the Texarkana District, 71.24 miles ; and the Natchi- toches Branch, 50.84 miles — a total of 264.48 miles. Sec. & Treas. — C. E. Satterlee. .New Tork, N. Y. Asst. Sec. & Asst. Treas. — L. S. Smith, Auditor — Richard Fenby Dallas, Tex. Oen. Counsel — John F. Dillon... New York, N. Y. Dallas, Tex. GENERAL OFFICE Dallas, Tex. New York Office. . 195 Broadway. POOR'S MANUAL OF RAILROADS. 557 TEXAS AND PACIFIC SYSTEM — Railroad Owned or Controlled by the Texas and Pacific Ry. DENISON AND PACIFIC SUBURBAN RY. -Sherman to Denison, Tex., 7.63 m. ; total track, 8.98 miles. Gauge, 4 ft. 8% in. Rail (steel), 63 Ibs. Chartered June 5, 1895; road opened in Feb., 1896. For statement showing the relation between this company and the Texas end Pacific Ry. Co., see MANUAL for 1896, page 912. Earnings, year ending June 30, 1902, $13,654. Operating expenses and taxes, $34,294. Deficit, $20,640; deficit forward, $54,449 — total, $75,089. Capital stock, $100,000. Funded debt, $100,000. Stock and bonds are all owned by the Texas and Pacific Ry. Co. L. S. THOBNE, ?Pres. & Gen. Hgr., Dallas, Tex.; W. dimming, Vice-Pres., Denison, Tex.; L. S. Smith, Treas.; R. Fenby, Sec., Dallas, Tex. ANGELINA AND NECHES RIVER RR.— Keltys to Manton, Tex., 10 m. ; total track (steel; 35 Ibs.), 10.75 miles. Gauge, 3 ft. Chartered Aug. 6, 1900, and acquired a logging road, which has been transformed into a common carrier. Connection is made with the St. Louis South- western Ry. at Keltys, and with the Texas and New Orleans Ry. at Manton. Locomotives, 4. Cars (logging), 25. Operations, year ending June 30, 1902. — Gross earnings, $11,432. Operating expenses, $18,- 720. Deficit from operations, $7,288. General Balance Sheet, June 30, 1902. — Capital stock ($75,000 auth. ; $100 shares), $55,- 000 ; current liabilities, $1,796 — total, $56,796. Contra : Cost of road and equipment, $51,500 ; profit and loss, $5,296 — total, $56,796. Directors. — J- H. Kurth, S. W. Henderson, B. T. Clark, Eli Wiener, Keltys, Tex. ; E. J. Man- tooth, W. M. Glen, Lufkin, Tex. ; Sam Wiener, Jr., Shreveport, La. OFFICERS : J. H. KURTH, Pres. ; S. W. Henderson, Vice-Pres.; Eli Wiener, Sec. & Treas., Keltys, Tex. GENERAL OFFICE, Keltys, Tex. ARANSAS HARBOR TERMINAL RY.— Projected : Aransas Pass, Tex., to Mustang Is- land, 10 miles. Completed up to July 1, 1902 : Aransas Pass, Tex., to Corpus Christ! Channel, 3.2 miles. Gauge, 4 ft. 81 in. Rail (steel), 65 Ibs. Chartered July 13, 1892. A drawbridge is to be built across the Corpus Christl Channel, and the road continued to deep water on Harbor and Mus- tang Islands. The company has 200 acres of land on Harbor and Mustang Islands, and 85 acres in the city of Aransas Pass, Tex., for terminal facilities, besides having other valuable franchises. Financial Statement, Jan. 1, 1903. — Capital stock paid in, $10,000. Funded debt, $24,000 ($250,000 auth.) 1st gold 6s of March 23, 1921. Cost of road, etc., to date, $82,000. Estimated cost of completed road, $250,000. Directors. — Alex. Brown, W. B. Brooks, Baltimore, Md. ; T. D. Cobb, T. B. Wheeler, Floyd M. Gown, Thos. H. Franklin, San Antonio, Tex. OFFICERS : W. B. BROOKS, Pres., Baltimore, Md. ; T. B. Wheeler, Sec., Aransas Pass, Tex. GENERAL OFFICE, Aransas Pass, Tex. ARKANSAS SOUTHERN RR. — Projected: El Dorado, Ark., to Sabine Pass, Tex., 289 miles. Completed up to June 30, 1902 : El Dorado, Ark., to Winnfield, La., 101 miles. Gauge, 4 ft. 81 in. Chartered March 10, 1899. An extension from Wlnnfleld to Alexandria, La., 50 miles, is under construction. Locomotives, 11. Cars — passenger, 5; baggage, etc., 1; freight (box, 61; flat, 24), 85; other, 6 — 'total, 97. Part of the freight equipment is held under car trust. Operations, year ending June 30, 1902. — Earnings (passenger, $86,038; freight, $245,624: other, $2,322), $333,984. Operating expenses, $201,581. Net earnings, $132,403; other receipts, $3,966 — total, $136,369. Total deductions (including dividends, $35,000), $111,074. Surplus, $25,295. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock paid in ($3,160,000 auth.; $100 shares), $700,000; funded debt (1st 5s of July 1, 1929), $700,000; current liabilities, $179,003 ; profit and loss, $64,304 — total, $1,643,307. Contra : Cost of road and equipment, $1,268,063 ; other investments, $300,785 ; materials, etc., $2,527 ; bills receivable, $1,254 ; cash and current assets, $23,351 ; other assets, $47,327 — total, $1,643,307. Directors. — Hugh C. Brown, Ruston, La.; W. E. Hemingway, Little Rock, Ark.; W. H. Crouch, George W. Hunter, John Jay Nelson, St. Louis, Mo. OFFICERS : GEORGE W. HUNTER, Pres. & Treas., St. Louis, Mo. ; Hugh C. Brown, Vice-Pres., Ruston, La. ; W. H. Crouch, Sec., St. Louis, Mo. ; A. R. Porter, Aud., Ruston, La. GENERAL OFFICE, Ruston, La. ARKANSAS SOUTHWESTERN RY. — Smithton to Pike City, Ark., 32.76 m. ; Gurdon June, to Gurdon, Ark., 2.28 m. ; branches : Daleville to Washita, Ark., 28 m. ; Mill Creek June, to Silver City, Ark., 6 m. ; Chidester to Kirby, Ark. (narrow gauge), 8 m. — total, 77.04 miles. Rail (steel), 35 to 60 Ibs. Gauge, 4 ft. 81 in. Chartered April 8, 1900, as successor after foreclosure sale, March 13, 1900, to the Southwestern Arkansas and Indian Territory RR. Co. (see MANUAL for 1900, page 545). The line from Daleville to Washita, formerly known as Ultima Thule, Arka- delphia and Mississippi Ry. (see MANUAL for 1901, page 550), was acquired by this company in 1901. The line, Gurdon to Gurdon June., was opened In 1901, and the branches, Mill Creek June, to Silver City, and Chidester to Kirby, during the year 1902. Locomotives, 8. Cars — combination, 3 ; flat and log, 129 — total, 132. Gross earnings, year ending June 30, 1902, $99,311 ; operating expenses, $94,376; net earnings, $4,935. Capital stock auth. ($12,000 per mile), $396,000. This stock represents the line from Smithton to Pike City ; there was no stock issued on the Ultima Thule, Arkadelphia and Mississippi RR. Directors. — W. Grayson, N. W. McLeod, W. E. Grayson, St. Louis, Mo. ; C. G. Carpenter, Arkadelphia, Ark. ; Thos. Gage, J. H. Sellers, J. N. Stuart, Gurdon, Ark. OFFICERS : W. GRAYSON, Pres.; N. W. McLeod, Vice-Pres. & Aud.; W. E. Grayson, Treas.; Geo. H. Grayson, Sec., St. Louis, Mo. ; J. J. Kress, Gen. Mgr., Gurdon, Ark. GENERAL OFFICE, St. Louis, Mo. ARKANSAS WESTERN RR. — Heavener, Ind. T., to Waldron, Ark., 33 m. ; total track steel; 56 Ibs), 38 miles. Gauge, 4 ft. 81 in. Chartered Dec. 7, 1899; opened from Heavener, Ind. T., to Cauthron, Ark., Nov. 18, 1901 ; as above, Jan. 1, 1902. Locomotive, 1. Cars — passen- ger, 1 ; baggage, etc., 1 ; freight (box, 1 ; flat, 1 ; coal, 1), 3 — total, 5. 558 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Financial Statement, July 1, 1902. — Capital stock ($100 shares), $750,000; current indebt- edness, $116,000 — total, $866,000. Cost of equipment, $20,000 ; materials, etc., $7,500 ; cash and current assets, $7,600 — total, $35,100. Construction account not yet adjusted. Directors. — F. E. Wear, F. C. Downey, A. B. Kirkwood, Kansas City, Mo. ; T. G. Bates, John T. Forrester, G. Cox, H. J. Hall, D. A. Edwards, T. M. Duncan, Waldron, Ark. OFFICERS : F. E. WEAR, Pres. ; F. C. Downey, Sec.; F. C. Gay, Traffic Mqr., Kansas City, Mo.; T. G. Bates, Trcas.; F. D. Hunt, Supt., Waldron, Ark. GENERAL OFFICE, Waldron, Ark. ATCHISON AND EASTERN BRIDGE CO. (THE).— A reorganization in 1898 of the Chicago and Atichison Bridge Co. (See MANUAL for 1898, page 214.) This company owns and operates a railway and highway toll bridge, 0.35 mile in length, across the Missouri River at Atchi- son, Kan., used by the Hannibal and St. Joseph, Kansas City, St. Joseph, and Council Bluffs, Mis- souri Pacific, Chicago, Rock Island and Pacific, and Atchison, Topeka and Santa Fe Rys. Gauge, 4 ft. 9 in. Rail (steel), 70 Ibs. Operations, year ending Dec. 31, 1902. — Gross earnings, $96,656. Operating expanses and taxes, $21,654. Net earnings, $75,002. Deductions : Interest on bonds, $24,500 ; sinking fund, $5,500 ; renewal of superstructure and other charges, $6,676 — total, $36,676. Surplus, $38,326. General Balance Sheet, Dec. 30, 1902. — Capital stock ($100 shares), $7^)0,000; funded debt (1st gold 4s of July 1, 1928; $665,000 auth.), $590,000; bills and accounts payable, $5,572; accrued interest, $11,960 ; profit and loss, $62,698 — total, $1,370,230. Contra : Cost of bridge, franchises, etc., $1,332,000; cash and accounts, $38,230 — total, $1,370,230. Directors. — Not reported. OFFICERS : HOWARD P. BELLS, Pres. & Treas. ; James H. Hoyt, Vice-Pres. ; Wm. P. Kelly, Bee., Cleveland, O. ; N. D. Todd, Supt., Atchison, Kan. GENERAL OFFICE, Atchison, Kan. CANE BELT KB. — Projected : Sealy, Tex., to tidewater on the Gulf of Mexico, about 100 miles. Completed up to June 30, 1902 : Sealy to Bay City, Tex., 68.2 m. ; Lakeside to Calhoun, Tex., 4.3 m. ; Lane City to Garwood, Tex., 3.2 m. — total, 75.7 m. — total track (steel ; 40 Ibs.), 81.56 miles. Gauge, 4 ft. 8J in. Chartered March 8, 1898 ; road opened from Eagle Lake to Bonus, Jan. 1, 1899 ; main line opened as above on Jan. 1, 1900 ; branches built in 1901. An extension from Bay City to Matagordo, Tex., 21 miles, was put in operation in Feb., 1903. Locomotives, 7. Cars — passenger, 8; freight (box, 11; flat, 120), 131 — total, 139. Operations, year ending June 30, 1902. — Tons freight moved, 102,952. Earnings (passenger, $36,051; freight, $135,025; other, $7,715), $178,791. Operating expenses, $123,022. Net earn- ings, $55,769. Payments : Interest on bonds, $39,650 ; taxes, $844 — total, $40,494. Surplus, $15,- 275 ; surplus forward, $47,028 ; additions during year, $28,984 — total, $91,287. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth.; $100 shares), $19,- 250 ; funded debt (1st gold 5s of June 30, 1921), $750,000; current liabilities, $48,366; profit and loss, $91,287 — total, $908,903. Contra : Cost of road and equipment, $866,931 ; cash and current assets. $41,972 — total, $908,903. Directors. — Jonathan Lane, Houston, Tex. ; W. T. Eldridge, I. P. Fell, Chas. Boedeker, Eagle Lake, Tex. ; J. H. Aug. Meyer, Geo. F. Durant, E. H. CofDn, A. A. B. Woerheide, Wm. Duncan, St. Louis, Mo. OFFICERS : JONATHAN LANE, Pres., Houston, Tex. ; W. T. Eldridge, Vice-Pres. & Gen. Mgr. ; I. P. Fell, Sec. & Treas., Eagle Lake, Tex. GENERAL OFFICE, Eagle Lake, Tex. CHESTER, PERRYVILLE AND STE. GENEVIEVE RY.— Perryville to West Ches- ter, Mo.; total track (steel; 56 Ibs.), 20 miles. Gauge, 4 ft. 8J in. Chartered March 31, 1899. Capital stock, $300,000. Locomotives, 3. Cars — passenger, 2; baggage, etc., 1; freight (box, 4; flat, 4; coal, 3), 11 — total, 14. No further information furnished. Directors. — John Tlapek, St. Mary's, Mo. ; L. B. Houck, Louis Houck, Giboney Houck, Cape Girardeau, Mo. ; T. L. Phillips, J. C. Houck, Perryville, Mo. OFFICERS : Louis HOUCK, Pres., Cape Girardeau, Mo. ; John Tlapek, Vice-Pres., St. Mary's, Mo. ; J. C. Houck, Sec. & Supt. ; Thos. L. Phillips, Treas., Cape Girardeau, Mo. GENERAL OFFICE, Perryville, Mo. COLORADO AND NORTHWESTERN RY. — Boulder to Ward, Col., 26.72 m. ; branches and spurs, 2.57 m. ; trackage, Col. & So. Ry., Boulder to Penn June., Col., 3.87 m. — total operated, 33.16 miles. A line is projected from Sunset to Eldora via Gold Hill, a distance of 19 miles. Gauge, 3 ft. Rail (steel), 56 Ibs. Chartered July 22, 1897, and purchased the rights, privileges, and franchises of the Intermountain Ry. Co. Road opened as above about June 6, 1898. Locomotives, 5. Cars — passenger, 14 ; baggage, etc., 1 ; freight (box, 29 ; flat, 10 ; coal and ore, 60), 99 ; caboose, 2 — total, 116. Operations, year ending June 30, 1902. — Earnings (passenger, $32,496; freight, $28,283; other, $1,604), $62,383. Operating expenses, $62,319. Net earnings, $64. Total deductions, $39,- 602. Deficit for year, $39,538. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock ($100 shares), $500,000; funded debt (see GENERAL INDEX), $600,000; current liabilities, $149,816; interest ac- crued, $32,822 — total, $1,282,638. Contra: Cost of road and equipment, $1,201,568; materials, etc., $13,286 ; cash and current assets, $7,398 ; profit and loss, $60,386 — total, $1,282,638. Directors. — Wm. C. Culbertson, Frank May, Girard, Pa. ; Thos. R. Mann, Chas. B. Culbert- son, Boulder, Col. ; Samuel B. Dick, Meadville, Pa. OFFICERS : WM. C. CULBERTSON, Pres., Girard, Pa. ; S. B. Dick, Vice-Pres., Meadville, Pa. ; Chas. B. Culbertson, Treas., Boulder, Col. ; Frank May, Sec., Girard, Pa. ; S. Robinson, Aud., Boulder, Col. GENERAL OFFICE, Boulder, Col. COLORADO EASTERN RR. — Denver to Scranton, Col., 16.6 m. ; total track (steel; 21 Ibs.), 16.9 miles. Gauge, 3 ft. Reorganization, May 21, 1894, of the Colorado Eastern Ry. Co., whose property was sold under foreclosure on the same date. (See MANUAL for 1892, page 178.) In addition to its railroad, the company's property consists of 3,360 acres of coal lands held in fee simple, 640 acres leased from the State of Colorado, besides valuable terminals, franchises, etc., in the city of Denver. Locomotive, 1. Cars — passenger, 1; freight (flat, 1; coal, 9), 10 — total, 11. General Balance Sheet, Dec. 31, 1900 (latest rendered). — Capital stock ($100 shares), $1,000,000; bills payable, $105,497 — total, $1,105,497. Contra: Cost of road and equipment, $99,967 ; real estate and buildings, $883,846 ; mine equipment and mine improvement, $30,677 ; other property and assets, $656 ; cash and current assets, $1,301 ; profit and loss, $89,050 — total, $1,105,497. Directors. — H. T. Rogers, L. M. Cuthbert, Theodore Holland, A. E. Reynolds, Robert McDowell, Denver, Col. ; Bernard J. Burke, W. F. Havemeyer, New York, N. Y. OFFICERS : H. T. ROGERS, Pres.; Robert McDowell, Sec., Denver, Col.; C. L. Horton, Treas., New York, N. Y. GENERAL OFFICE, Denver, Col. Colliery, Scraaton, Col. New York Office, 15 Wall St. POOR'S MANUAL OF HAILKOAUS. 559 COLORADO SPRINGS AND CRIPPLE CREEK DISTRICT RY.— Colorado Springs to Cripple Creek, Col., 45.82 m. ; Cameron to Victor, Col., 5.13 m. ; low line from Cripple Creek to Victor, Col. (both electric and steam), 4.5 m. ; high line from Cripple Creek to Victor (electric), 6.39 m. ; other branches and spurs in Cripple Creek District, 4.32 m. ; Colorado City Branches, 2.86 m. ; branch connection with Atchison System, 1.05 m. — total, 70.07 m. ; total track (steel; 60 to 75 Ibs.), 84.76 miles. Gauge, 4 ft. 8J in. Chartered April 13, 1897, as Cripple Creek District Ry. ; charter amended Nov. 17, 1897, and present name adopted. The electric line from Cripple Creek to Victor, via Midway, was opened Jan. 1, 1898 ; line via Anaconda, Sept. 9, 1900 ; the other lines in 1901 (see MANUAL for 1901, page 538). The road is owned by and operated in the interest of mine owners of the Cripple Creek District. A statement relating to the electric lines will be found else- where in the MANUAL. (See GENERAL INDEX — Street Railways.) Locomotives, 12. Cars — passen- ger, 12; combination, 4; baggage and express, 2; freight (box, 225; flat, 25; coal, 50), 300; caboose, 3 — 321. The electric equipment consists of 2 power stations, 8 motor cars and 3 trail cars. Operations, 6 months ending Dec. 31, 1902. — Earnings (passenger, $170,595; freight, $279,- 056; other, $6,291), $455,942. Operating expenses, $210,242. Net earnings, $245,700; other re- ceipts, $695 — total, $246,395. Payments : Interest on bonds, $74,865 ; on floating debt, $17,036 ; taxes, $3,972 ; other charges, $896 — total, $96,769. Surplus, $149,626 ; less sinking fund, $22,797 — net surplus, $126,829. Financial Statement, Dec. 31, 1902. — Capital stock (common, $1,200,000; 5 p. c. non-cumu- lative preferred, $800,000; shares, $100), $2,000,000. Funded debt: $1,928,000 1st gold 5s of Jan. 1, 1930 ; $257,000 2d gold 5s of April 1, 1921, and $971,000 1st consol. gold 5s of Oct. 1, 1942— total, $3,156,000. There is a sinking fund of 5 p. c. of yearly gross earnings, under which 1st mtge. bonds may be retired at 110 p. c. until 1915, at 107 p. c. in the years 1916-1920, at 105 p. c. in 1921-1925, at 102J p. c. in 1926-1928, and at par thereafter. The authorized amount of consols is $3,600,000. They were issued under a refunding plan providing, among other things, for the retirement of the 1st and 2d mtge. bonds. Directors (elected Sept. 9, 1902). — Irving Howbert, Wm. Lennox, F. M. Woods, B. A. Col- burn, James F. Burns, F. G. Peck, C. M. MacNeill, H. G. Lunt, John G. Shields, Colorado Springs, Col. OFFICERS: IRVING HOWBERT, Pres.; Wm. Lennox, Vice-Pres.; F. M. Woods, Treas.; E. F. Draper, Sec. & Asst. Treas.; L. F. Linney, Aud.; F. C. Smith, Gen. Supt., Colorado Springs, Col. GENERAL OFFICE, Colorado Springs, Col. CRYSTAL RY. — Crystal City to Silica, Mo., 3.50 m. — total track (3.50 m., steel; 60 Ibs.), 4.75 miles. Gauge, 4 ft. 8J in. Chartered Nov. 27, 1880, as successor to Crystal City RR. Co. : road opened same day. Owned by the Crystal Plate Glass Co. Locomotive, 1. Car (passenger), 1. Operations, year ending June 30, 1902. — Passengers carried, 5,028 ; carried one mile, 15,084. Tons freight moved, 69,057; ton-miles, 241,698. Earnings (passenger, $801; freight, $10,414; other, $385), $11,600. Operating expenses, $8,371. Net earnings, $3,229. Paid taxes, $372. Sur- plus, $2,857 ; surplus forward, $14,926 — total, $17,783. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $30,000; profit and loss, $17,783 — total, representing cost of road, etc., $47,783. Directors. — Carlos S. .Greeley, C. B. Burnham, E. T. Allen, Henry Hitchcock, E. A. Hitch- cock, St. Louis, Mo. OFFICERS: E. A. HITCHCOCK, Pres.; C. B. Burnham, Vice-Pres. ; E. T. Allen, Sec. & Treas., St. Louis, Mo. ; Louis Phillippi, Aud., Crystal City, Mo. GENERAL OFFICE, St. Louis, Mo. DARDANELLE AND RUSSELL VILLE RY. — Russellville to N. Dardanelle, Ark., 5 m. ; track to coal mines, 2 m. — total, 7 miles. Gauge, 4 ft. 8J in. Rail (steel), 45 Ibs. Chartered Feb., 1883; road opened Sept., 1883. Locomotives, 2. Cars (combination), 2. For freight the company uses cars furnished by the Missouri Pacific, as all the business of the road is turned over to the Missouri Pacific at Russellville. Operations, year ending June 30, 1902. — Passengers carried, 9,754 ; carried one mile, 47,590. Tons freight moved, 30,134; ton-miles, 99,810. Earnings (passenger, $2,791; freight, $29,811; other, $2,034), $34,636. Operating expenses, $19,214. Net earnings, $15,422. Payments: Interest on bonds, $5,100; taxes, $453; dividends (3 p. c.), $6,000; other charges, $89 — total, $11,642. Surplus, $3,780 ; surplus forward, $7,303 — total, $11,083. Deductions during the year, $4,141 ; net surplus, $6,942. General Balance Sheet, June • 30, 1902.— Capital stock ($100 shares), $200,000; funded debt (1st 6s of Jan. 15, 1920; $100,000 auth.), $85,000; profit and loss, $6,942— total, $291,942. Contra : Cost of road, equipment and lands, $285,000 ; cash on hand, $6,942 — total, $291,942. Directors. — Z. J. Pierce, James K. Perry, J. K. Barry, W. B. Lemoyne, Dardanelle, Ark. ; James E. Skillern\ Geo. B. Rose, Little Rock, Ark. ; E. O. McNair, Buffalo, N. Y. ; W. M. Tenney, Boston, Mass. ; H. C. Mandeville, Elmira, N. Y. OFFICERS : J. E. SKILLERN, Pres., Little Rock, Ark. ; W. M. Tenney, Vice-Pres. & Treas., Boston, Mass. ; E. O. McNair, Treas., Buffalo, N. Y. ; W. B. Le- moyne, Supt., Dardanelle, Ark. GENERAL OFFICE, Dardanelle, Ark. DENVER, LAKEWOOD AND GOLDEN RR. — Denver to Golden, Col., 13.1 m. ; Barnum June, to Barnum, 3 m. ; Ralston June, to Ralston, 8 m. — total, 24.1 m. ; total track, 26.1 miles. Gauge, 4 ft. 81 in. Rail (steel), 30 to 75 Ibs. Chartered June, 1890; road completed as above. 1894. The line from Barnum June, to Barnum, 3 miles, and 1 mile of other trackage, are operated exclusively by electricity, and 1 mile of the steam portion is also operated by electricty, making 4 miles of electric trackage, the operations of which are not given below. Receiver appointed July 31, 1896, on the application of the mortgage trustee. Locomotives, 3. Cars — passenger, 5 ; freight (box, 7; coal, 30), 37 — total, 42. Operations, year ending June 30, 1902. — Trains run (passenger, 37,500; freight, 8,450), 45,950 miles. Passengers carried, 113,419 ; carried one mile, 1,134,190. Tons freight moved, 68,- 822; ton-miles, £81,335. Earnings (passenger, $25,940; freight, $29,991; other, $640), $56,571. Operating expenses, $58,200. Deficit from operations, $1,629. Receiver's Balance Sheet, June 30, 1902.— Current liabilities, $6,273 ; profit and loss, $15,- 421 — total, $21,694. Contra: Materials, etc., $4,022; cash and current assets, $13,168; other as- sets, $4,504 — total, $21,694. Financial Statement. — Capital stock ($100 shares), $1,000,000, divided pro rata among bondholders; funded debt (1st 6s of 1910), $627,000 — total, $1,627,000. Cost of road and equip- ment, $774,819 ; real estate, $2,500 ; materials, etc., $1,262 ; cash, $12,965 — total, $791.546. Directors.— C. C. Welch, Geo C. Moore, Caldwell Yeaman, Frank W. Loveland, W. F. R. Mills, Denver, Col. ; Samuel Newhouse, Salt Lake City, Utah ; George W. Middleton, Phrenix, Ariz. ; John Z. Adams, New York, N. Y. OFFICERS : W. W. BORST, Receiver, Denver, Col. ; SAMUEL NEWHOUSE, 560 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Pres. & Sec., Salt Lake City, Utah ; C. C. Welch, Vice-Pres.; F. W. Loveland, Trees.; B. M. Smith, And., Denver, Col. GENERAL OFFICE, Denver, Col. EASTERN TEXAS RR.— Completed to Jan. 1, 1903 : Lufkin to Kennard Mills, Tex., 28.28 m. ; total track (steel; 35 IDS.), 30.02 miles. Projected from Lufkin to Crockett. Gauge, 4 ft. 81 in. Locomotives, 3. Cars — passenger, 1 ; baggage, etc., 1 ; freight, 5 ; logging, 60 — total, 67. Operations* year ending June 30, 1902. — Trains run (mixed), 4,212 miles. Passengers car- ried, 3,673 ; carried one mile, 88,253. Tons freight moved, 2,880 ; ton-miles, 76,330. Earnings (passenger, $2,610; freight, $5,036), $7,646; other receipts, $2,745 — total, $10,391. Operating expenses, $7,707. Net income, $2,684. General Balance Sheet, June 30, 1902. — Capital stock ($1,000,000 auth ; $100 shares), $600,000; current liabilities, $262,757; profit and loss, $2,684 — total, $865,441. Contra: Cost of road and equipment, $364,678 ; cash and current assets, $500,763 — total, $865,441. Directors. — W. C. Perry, John A. Sargent, Kansas City, Mo. ; R. D. Collins, E. H. Payne, R. W. Miller, E. J. Mantooth, Wm. Glenn, Lufkin, Tex. OFFICERS : JNO. A. SARGENT, Pres., Kansas City, Mo.; R. W. Miller, Vice-Pres.; E. H. Payne, Treas.; E. J. Mantooth, Sec., Lufkin, Tex. GENERAL OFFICE, Lufkin, Tex. EL PASO AND SOUTHWESTERN RR.— Deming, N. M., to Benson, Ariz., 229.6 m. ; Bls- bee to Don Luis, Ariz., 3.8 m. ; Naco to Naco Junction, Ariz., 4.2 m. — total, 237.6 m. ; total track (steel; 65 and 70 Ibs.), 252.6 miles. Gauge, 4 ft. 8J in. Incorporated in July, 1901, to take over the Arizona and Southeastern RR. (see MANUAL for 1901, page 649), the Southwestern RR. of Ari- zona, the Southwestern RR. of New Mexico and the El Paso Terminal RR., properties owned or con- trolled by Phelps, Dodge & Co., of New York, N. Y. An affiliated company is constructing the Naco- zari RR., from Douglas, Ariz., to Nacozari, Mex. Capital stock, $7,000,000. Locomotives, 23. Cars — passenger, 14; baggage, etc., 4; freight (box, 105; flat, 88; oil, 23; ore, 10), 226 — total, 244. Directors. — Not reported. OFFICERS : JAMES DOUGLAS, Pres. ; A. C. James, 1st Vice-Pres. ; J. VanVleck, Treas.; George Notman, Sec.; W. F. Crane, Gen. And., New York, N. Y. ; Walter Douglas, Gen. Mgr., Bisbee, Ariz. ; H. J. Simmons, Gen. Supt., El Paso, Tex. GENERAL OFFICE, 99 John Street, New York, N. Y. FORT SMITH AND WESTERN RR. — Completed Jan. 1, 1903 : Coal Creek to Garner, Ind. T., 76 m. ; branches, 1.71 m. — total owned, 77.71 m. ; trackage, Kansas City Southern Ry. ; Fort Smith, Ark., to Coal Creek, Ind. T., 19.30 m. — total operated, 97.01 miles. Sidings (owned), 1.73 miles. Rail (steel), 70 Ibs. Gauge, 4 ft. 81 in. Chartered Jan. 25, 1899. Road opened from Coal Creek to McCurtain, 20 m., Nov. 1, 1901 ; to Crowder City, 43 m., Aug. 18, 1902, and as above Oct. 1, 1902. Locomotives, 6. Cars — passenger, 4; freight (box, 60; flat, 15; coal, 300), 375 — total, 379. Operations, 8 months ending June 30, 1902 (41 miles). — Trains run (mixed, 14,340; other, 200), 14,540 miles. Passengers carried, 5.044; carried one mile, 146,953. Tons freight moved, 15,169; ton-miles, 434,219. Earnings (passenger, $4,337; freight, $13,122; other, $3,104), $20,563. Operating expenses, $18,786. Net earnings, $1,777 ; other receipts, $782 — total, $2,559. Payments: Interest on bonds, $28,125; taxes, $309 — total, $28,434. Deficit, $25,875. General Balance Sheet, June 30, 1902. — Capital stock ($50,000 auth.; $100 shares), none issued; funded debt (1st 5s of Oct. 1, 1921, $5,000,000 auth.), $750,000 ; current liabilities, $7,700 ; interest accrued, $9,375 — total, $767,075. Contra : Cost of road and equipment, $723,423 ; ma- terials, etc., $461 ; cash and current assets, $17,316 ; profit and loss, $25,875 — total, $767,075. Directors. — A. C. Dustin, W. H. Canniff, J. H. Hoyt, W. G. Mather, Cleveland, O. ; H. C. Frick, Pittsburgh, Pa. ; J. J. Mahoney, H. B. Herendeen, Geo. T. Sparks, Fort Smith, Ark. ; one vacancy. OFFICERS : A. C. DUSTIN, Pres. & Treas. ; J. H. Hoyt, Vice-Pres. ; H. S. Hazelton, Sec., Cleveland, O. ; H. B. Herendeen, Aud., Fort Smith, Ark. GENERAL OFFICE, Fort Smith, Ark. GULP AND INTERSTATE RY. OF TEXAS.— Projected : Galveston to Red River, Tex., 380 m. ; branch, Winnie to Beaumont, Tex., 25 m. — total, 405 miles. Completed up to June 30, 1902 : Port Bolivar to Beaumont, Tex., 70.35 miles. Sidings, 6 miles. Gauge, 4 ft. 81 in. Rail (steel), 54 Ibs. Originally chartered May 19, 1894, as the Gulf and Interstate Ry. Co. ; charter amended Sept., 1894, and present name adopted. Road completed as above on March 15, 1896. The property was placed in the hands of a receiver on Sept. 21, 190'0, and was subsequently sold, but no reorganization will be effected until the receivership is ended. The road is being rebuilt, and is ex- pected to be in operation between Beaumont and Galveston by Sept. 1, 1903. Locomotives, 3. Cars — passenger, 1; baggage, etc., 1; freight (box, 1; flat, 25), 26 — total, 28. Operations, year ending June 30, 1902 (42 miles). — Trains run (mixed), 14,918 miles. Pas- sengers carried, 2,237 ; carried one mile, 67,154. Tons freight moved, 8,026 ; carried one mile, 178,457. Earnings (passenger, $3,269 ; freight, $12,491), $15,760. Operating expenses, $18,102. Loss from operations, $2,342. Total deductions, $9,924. Deficit for year, $12,266. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock ($100 shares), $71,000 ; funded debt (1st gold 5s of Dec. 26, 1925), $829,000; current liabilities, $486,731 — total, $1,386,731. Contra : Cost of road and equipment, $551,585 ; bonds in escrow, $642,000 ; lands, $11,450 ; materials, etc., $2,056 ; current accounts and balances, $16,329 ; profit and loss, $163,- 311 — total, $1,386,731. Owners. — Fox Winnie, Newton, Kan. ; L. P. Featherstone, Beaumont, Tex. John W. Camp- bell, Receiver, Galveston, Tex. GENERAL OFFICE, Galveston, Tex. HANNIBAL UNION DEPOT CO. — Owns terminals at Hannibal, Mo., 0.90 mile. Gauge, 4 ft. 81 in. Chartered June 13, 1881 ; depot opened May 14, 1882. The station is used jointly by the C., B. & Q., the St. L., K. & N. W., the H. & St. J., the Wabash, and the M., K. & T. RRs., and a-11 deficits, interest on bonds, and retirements are provided for by those companies. Operations, year ending June 30, 1902. — Gross receipts (rentals, $24,148 T miscellaneous, $1,153), $25,301. Operating expenses, $16,638. Net earnings, $8,663. Payments: Interest on bonds, $2,100 ; taxes, $663 ; bonds retired, $6,000 — total, $8,763. Deficit, $100 ; surplus forward, $6,602. Net surplus, $6,502. General Balance Sheet, June 30, 1902. — Capital stock ($100,000 auth.; $100 shares), $40,000; funded debt (1st 6s of July 1, 1906), $35,000; current liabilities, $1,108; interest ac- crued, $1,050 ; other liabilities, $129 ; profit and loss, $6,502 — total, $83,789. Contra : Cost of property, $75,000 ; bills receivable, $1,739 ; other assets, $7,050 — total, $83,789. Directors. — Henry Miller, C. M. Levey, H. L. Magee, E. M. Collins, St. Louis, Mo. ; C. A. How, Hannibal, Mo. ; C. M. Carter, St. Joseph, Mo. OFFICERS : HENRY MILLER, Pres., St. Louis, Mo. ; POOR'S MANUAL OF RAILROADS. 561 C. M. Carter, Sec. & Trees., St. Joseph, Mo. ; Charles N. Lee, Supt., Hannibal, Mo. GBNEBAL OFFICE, Hannibal, Mo. HEARNE AND BRAZOS VALLEY RB. — Junction I. & G. N. RR. near Hearne to Stone City, Tex., 16.42 m. ; total track (steel; 40 Ibs.), 17.34 miles. Trackage: I. de Q. N. RR., I. £ G. N. June, to Hearne, Tex., 2.40 miles. Gauge, 4 ft. 8J in. Rail (steel), 40 Ibs. Chartered May 18, 1891; road built in 1892. Capital stock ($100,000 auth.), $52,870. Locomotive, 1. Cars — passenger, 2 ; caboose, 1 — total, 3. Operations, year ending June 30, 1902. — Trains run (mixed), 27,272 miles. Tons freight moved, 8,493. Earnings (passenger, $4,538; freight, $14,833), $19,371. Operating expenses, $17,789. Surplus, $1,582. Total deductions, $1,029. Surplus for year, $553. Directors. — Not reported. OFFICERS: THOS. H. HUBBARD, Pres., New York, N. Y. ; P. A. Gorman, Vice-Pres. & Gen. Mgr.; W. P. Ferguson, Sec. & Treas.; H. H. Perry, And., Hearne, Tex. GENERAL OFFICE, Hearne, Tex. IOWA AND ST. LOUIS BY. — Completed to March 1, 1903 : Mystic, Iowa, to Macon, Mo., 83 miles. Projected from St. Louis, Mo., to Sioux City, Iowa, passing through the coal fields of Northern Missouri and Southern Iowa. Chartered in May, 1901. Capital stock authorized ($100 shares), $2,000,000 ; none paid in to Sept. 1, 1902. Funded debt authorized (none issued to March 1, 1903), $2,000,000 1st mtge. 5 p. c. 40-year gold bonds, to mature May 1, 1942. Trustee: Illinois Trust and Savings Bank, Chicago, 111. Directors. — John Lambert, J. W. Gates, J. S. Keefe, H. H. Kendrick, Chicago, 111. ; Wm. Hop- kins, St. Louis, Mo. ; E. B. Sweeney, H. F. Reddig, Kansas City, Mo. OFFICERS : JOHN LAMBERT, Pros., Chicago, 111.; H. F. Reddig, Vice-Pres. & Gen. Mgr., Connelsville, Mo.; J. H. Lacy, Sec. ; W. M. Holmes, Treas., Chicago, 111. GENERAL OFFICE, Connelsville, Mo. JONESBORO, T.ATETC CITY AND EASTEBN BB.— Completed up to July 1, 1902: Jonesboro to Blytheville, Ark., 57 miles. Sidings, 300 ft. Gauge, 4 ft. 8J in. Rail (steel), 45 and 56 Ibs. Chartered May 7, 1897 ; road opened Sept. 1, 1899 (see MANUAL for 1900, page 538). An extension from Blytheville to Barfield Point, 10 miles, has been graded and will be completed by May 1, 1903. Locomotives, 5. Cars — passenger, 3; freight (box, 40; flat, 60), 100 — total, 143. Operations. — All information refused ; for latest statement, see MANUAL for 1901, page 541. General Balance Sheet, June 30, 1900 (latest rendered). — Loans and bills payable, $161,- 811 ; current liabilities, $4,420 ; accrued liabilities, $1,619 ; profit and loss, $21,463 — total, $189,- 314. Contra : Cost of road and equipment, $160,463 ; materials, etc., $53 ; current assets, $28,798 — total, $189,314. Stock and Bonds. — Capital stock authorized ($1,000 shares), $412,000; none issued. The company has $225,000 1st gold 6s of 1918 hypothecated as security for a loan. Directors. — J. E. Jones, E. F. Brown, A. J. Kerfoot, Doswell Brown, W. B. Beckman. OFFI- CERS: J. E. JONES, Pres. & Treas.; Doswell Brown, Vice-Pres.; A. J. Kerfoot, Gen. Mgr.; E. F. Brown, Sec. & Gen. Counsel; 8. K. Lenoir, Aud., Jonesboro, Ark. GENERAL OFFICE, Jonesboro, Ark. KANSAS CITY BELT BY. — Argentine, Kan., to Blue River Valley, Mo., 8.70 m. ; total track, 45.36 miles. Rail (steel, 44.61 m.), 60 and 75 Ibs. Gauge, 4 ft. 8| in. Consolidation, March 13, 1886, of the Kansas City Belt RR. Co. of Missouri and the Kansas City Belt RR. Co. of Kansas (see MANUAL for 1891, page 263). The property is owned one-half by The Atchison, Topeka and Santa Fe Ry. Co., three-tenths by the Kansas City, Fort Scott and Memphis RR. Co., and two-tenths by the Chicago, Milwaukee and St. Paul Ry. Co. Locomotives, 11. Freight cars (box, 4; other, 17), 21. Operations, year ending June 30, 1902. — Earnings (freight, $218,867; other, $125,653), $344,520. Operating expenses, $154,727. Net earnings, $189,793 ; other receipts, $1,619 — total, $191,412. Payments: Interest on bonds, $123,000; taxes, $32,043 — total, $155,043. Surplus, $36,369 ; surplus forward, $164,904 — total, $201,273. General Balance Sheet, June 30, 1902. — Capital stock ($2,500,000 auth.; $100 shares), $600,000; funded debt (1st 6s of July 1, 1916), $2,050,000; current liabilities, $25,222 ; interest accrued, $61,770 ; accrued taxes, $5,827 ; profit and loss, $201,273 — total, $2,844,092. Contra : Cost of road and equipment, $2,651,292 ; other investments, $2,873 ; materials, etc., $37,528 ; cash and current assets, $152,399 — total, $2,844,092. Directors (elected May 13, 1902). — B. L. Winchell, Wallace Pratt, Kansas City, Mo.; A. J. Earling, H. R. Williams, Chicago, 111. ; E. O. Faulkner, E. Wilder, H. U. Mudge, Topeka, Kan. OFFICERS : H. U. MUDGE, Pres., Topeka, Kan. ; B. L. Winchell, Vice-Pres., St. Louis, Mo. ; Edward Wilder, Treas., Topeka, Kan. ; C. C. Ripley, Sec., Kansas City, Mo. GENERAL OFFICE, Kansas City, Mo. KANSAS CITY, MEXICO AND ORIENT BY. (THE).— Projected : Kansas City, Mo., to Port Stilwell, Mex., 1,600 miles. Completed to March 1, 1903 : Milton, Kan., to Fairview, Okla., 99 m. ; In Mexico, 225 m. — total, 324 miles. Gauge, 4 ft. 8i in. Rail (steel), 60 and 75 Ibs. Work is In active progress, 400 miles of line in the United States and 150 miles In Mexico being ready for track-laying. A part of the line in Mexico will be the Chihuahua and Pacific Ry., over which running rights have been secured, and which is expected to be eventually a part of the sys- tem. In- July, 1902, the company began to operate Its own steamships and sailing vessels on a regu- lar schedule between Guaymas, Topolobampo Bay (Port Stilwell), La Paz and Mazatlan, carrying both freight and passengers. The company was incorporated under the laws of Kansas and is legal- ized in the Republic of Mexico. The road in Mexico is being built by the International Construction Co., a corporation organized under the laws of Delaware, and legalized in the Republic of Mexico, The Union Construction Co. holds the contract to build between Kansas City and Lone Wolf, Okla., approximately 420 miles. Financial Statement, March 1, 1903. — Capital stock auth. ($100 shares), $40,000 per mile, one-half thereof being common stock and one-half non-cumulative 4 p. c. preferred stock. Funded debt auth., $20,000 per mile, and $2,500,000 additional for extra work in the Sierra Madre Moun- tains, in 1st mtge. 4 p. c. 50-yr. gold bonds. For the work to be done by it the International Con- struction Co. will receive $18,000 per mile in 1st mtge. bonds, $16,000 per mile In preferred stock and $12,500 per mile in common stock, in addition to all subsidies receivable by the railway com- pany. Beyond this the construction company is to receive the $2,500,000 additional bonds provided for the heavy work in the Sierra Madre Mountains. The securities mentioned are to be delivered to the construction company upon the completion of each section of ten miles of road. There will remain in the treasury of the railway company, applicable to the purchase of additional equipment, improvement of the roadbed, and other purposes, a total of $6,750,000 1st mtge. bonds, $6,000,000 562 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. preferred stock and $10,250.000 common stock. The capital stock will be held in a voting trust for ten years. Directors. — A. E. Stilwell, W. S. Woods, Wm. A. Rule, W. W. Sylvester, J. J. Sylvester, Hugh C. Ward, C. C. Orthwein, Robert A. Long, Edward George, H. Clay Arnold, J. H. Arnold, H. F. Hall, Edward Dickinson, J. S. Loose, Kansas City, Mo. ; George Crocker, J. T. Odell, George J. Gould, Robert dowry, New York, N. Y. ; Russell Harding, St. Louis, Mo. ; W. C. Procter, Cin- cinnati, O. ; W. C. Edwards, Wichita, Kans. ; J. R. Burton, Abilene, Kans., and Washington, D. C. ; D. W. Mulvane, Topeka, Kans.; Warren G. Purdy, Chicago, 111. OFFICERS: A. E. STILWELL, Pres.; Kansas City, Mo.; Enrique C. Creel, Vice-Pres., Chihuahua, Mex. ; W. W. Sylvester, Vice-Pres.; Edward Dickinson, Vice-Pres., Kansas City, Mo. ; George Crocker, Vice-Pres., New York, N. Y. ; Neal S. Doran, Sec. & And., Kansas City, Mo. GENERAL OFFICE, Kansas City, Mo. KANSAS SOTTTHWESTEBN BY. (THE).— Cale Junction to Anthony, Kans., 59.35 m. ; trackage, St. L. & S. F. RR., Cale Junction to Arkansas City, Kan., 0.35 m. — total, 59.70 m. ; total track owned (steel; 56 Ibs.), 64.92 miles. Gauge, 4 ft. 8J in. Chartered Oct. 24, 1901, to acquire and operate the property formerly of the St. Louis, Kansas and Southwestern RR. Co., which was sold under foreclosure on Oct. 22, 1898, and afterwards operated by the purchaser under the title of The Kansas Southwestern RR. (see MANUAL for 1901, page 542). Capital stock, $362,000, one- half of which is owned by The Atchison, Topeka and Santa Fe Ry. Co. and the other half by the St. Louis and San Francisco RR. Co. The road is operated by its own organization. Locomotives (1 leased), 2. Cars — passenger (leased), 1; baggage, etc., 2; freight (box), 3 — total, 6. Operations, period Oct. 26, 1901, to June 30, 1902. — Trains run (passenger, 30,062; mixed, 35,458; other, 480), 66,100 miles. Passengers carried, 13,961; carried one mile, 351,890. Tons freight moved, 31,258; ton-miles, 1,004,441. Earnings (passenger, $9,643; freight, $34,473; other, $3,181), $47,297. Operating expenses, $37,266. Net earnings, $10,031. Payments: Taxes $5,718 ; rentals, $312 ; other charges, $2,325 — total, $8,355. Surplus, $1,676. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $362,000; current lia- bilities, $17,110 ; profit and loss, $1,676 — total, $380,786. Contra : Cost of road and equipment, $364,744 ; materials, etc., $3,673 ; cash and current assets, $11,369 — total, $380,786. Directors (elected Nov. 7, 1903). — E. L. Kingsbury, Arkansas City, Kan.; E. P. Ripley, Chicago, 111. ; H. U. Mudge, E. Wilder, Topeka, Kan. ; B. F. Yoakum, B. L. Winchell, A. Douglas, St. Louis, Mo. OFFICERS: E. L. KINGSBURY, Pres.; H. R. M. SmUh, Sec.; W. E. Wilcox, Treas.; Arkansas City, Kan. GENERAL OFFICE, Arkansas City, Kan. * LEAVENWORTH AND TOPEKA BY. (THE). — Leavenworth to Meriden June., Kan., 44.66 m. ; trackage (A., T. & S. F. Ry.), Meriden June, to Topeka, Kan., 10.19 m. — total operated, 54.85 miles. Sidings, 2.43 miles. Gauge, 4 ft. 8J in. Rail (steel, 7.5 m.), 48 and 52 Ibs. Char- tered Dec. 29, 1899, as successor to the Leavenworth, Topeka and Southwestern Ry. Co. ( See MANUAL for 1899, page 606.) The new company assumed operation on Feb. 1, 1900. Owned jointly by the Union Pacific RR. and The Atchison, Topeka and Santa Fe Ry. Cos. Locomotive, 1. Cars — combination, 2; freight (box, 1; flat, 12; coal, 11), 24 — total, 26. Capital stock (authorized, $250,000 ; $100 shares) paid in, $50,000. Directors. — J. O. Brinkerhoff, Kansas City, Mo. ; C. T. McLellan, H. U. Mudge, A. A. Hurd, E. Wilder, A. L. Williams, N. H. Loomis, Topeka, Kan. OFFICERS : C. T. MCLELLAN, Pres. & Gen. Mgr.; Edward Wilder, Sec. & Treas., Topeka, Kan. GENERAL OFFICE, Topeka, Kan. LEAVENWOBTH TEBMINAL BY. AND BBIDGE.— Stillings, Mo., to Leavenworth, Kan., 1.75 m. ; total track (steel; 65 Ibs.), 2.50 miles. Gauge, 4 ft. 8J in. Chartered Jan. 16, 1892 ; bridge opened, Jan. 1, 1894. This company leased the right to use its tracks, depot, facilities, etc., to the Kansas City, St. Joseph and Council Bluffs RR. and the Chicago, Rock Island and Pacific Ry. Cos. for 30 years from Jan. 2, 1894, at an annual rental of $18,000 from each company, which sum was reduced to $16,000 per annum, beginning Sept. 1, 1895. Also leased similar rights to the Chicago Great Western Ry. for 30 years from Sept. 1, 1895, at an annual rental of $12,800 for the first year and $14,300 per annum afterwards. The leases are not exclusive. Operated Jointly by the lessor companies. Income Account, year ending June 30, 1902. — Rentals, $44,508; other receipts, $7,001 — total, $51,509. Payments : Interest on bonds, $30,000 ; on floating debt, $194 ; taxes, $4,603 ; general expenses, $7,880; other charges, $3,420 — total, $46,097. Surplus, $5,412; surplus forward, $15,- 313 — total, $20,725. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $600,000; funded debt (1st gold 5s of Jan. 1, 1923), $600,000; current liabilities, $17,862; profit and loss, $20,725 — total, $1,238,587. Contra: Cost of road and equipment, $1,200,000; cash and current assets $38,587 — total, $1,238,587. Directors (elected Jan. 13, 1903). — E. W. Snyder, J. W. Crancer, W. N. Todd, Vinton Stillings, John Wilson, Chas. E. Snyder, T. T. Reyburn, J. H. Wendorff, Leavenworth, Kan. ; C. W. Snyder, Topeka, Kan. OFFICERS : E. W. SNYDER, Pres., Leavenworth, Kan. ; C. W. Snyder, Vice-Pres., Topeka, Kan. ; Chas. E. Snyder, Treas., Vinton Stillings, Sec., Leavenworth, Kan. GENERAL OFFICE, Leavenworth, Kan. LITTLE BIVEB VALLEY BY. — Projected : Little Rock, Ark., to Chickasha, Ind. T., 400 miles. Completed up to April 1, 1903 : Neal Springs to Addison, Ark., 11 miles. Gauge, 4 ft. 8J in. Rail (steel), 45 Ibs. Incorporated in Arkansas Dec. 3, 1897; chartered by Congress by act ap- proved Feb. 3, 1899. Road completed as above in 1901. Locomotive, 1. Cars — passenger, 1 ; bag- gage, etc., 1 ; freight, 15 — total, 17. Capital stock, $500,000. Cost of road to date, $65,000. Es- timated cost of road to completion, $8,000,000. Directors. — Not reported. OFFICERS : IRA D. OGLESBY, Pres., Fort Smith, Ark. ; J. H. Jones, Vice-Pres. ; J. M. Rockwell, Gen. Mgr., Houston, Tex. ; W. G. Addison, Sec. & Gen. 8upt., Neftl Springs, Ark. GENERAL OFFICE, Neal Springs, Ark. MANITOU AND PIKE'S PEAK BY. — Maniteu to summit of Pike's Peak, Col., 8.9 m. ; total track (steel; 40 Ibs.), 9.4 miles. Gauge, 4 ft. 8J in. Chartered Nov. 17, 1888; road opened June 30, 1891. Operated from April to Nov. annually. Locomotives, 5. Cars — passenger 6 : freight (flat), 2— total, 8.. Operations, year ending June 30, 1902. — Earnings (passenger, $93,013 ; freight $551 ; other, $4,236), $97,800. Operating expenses, $47,919. Net earnings, $49,881 ; other receipts $330 — total, $50,211. Total deductions, $26,923. Surplus, $23,288. General Balance Sheet, Nov. 30, 1901 (latest rendered). — Capital stock ($100 shares,), $500,000; funded debt (1st 5s of Oct. 1, 1909), $500,000; current liabilities, $2,052; profit and POOR'S MANUAL OF RAILROADS. 563 loss, $32,913 — total, $1,034,965. Contra: Cost of road, etc., $1,012,812; materials, etc., $3,638; treasury account, $14,404 ; cash and current assets, $4,111 — total, $1,034,965. Directors. — J. B. Glasser, C. W. Sells, Manltou, Col. ; Z. G. Simmons, Kenosha, Wis. ; R. R. Cable, Chicago, 111. ; E. T. Jeffery, Denver, Col. OFFICERS : C. W. SELLS, Pres. & Mgr., Manitou, Col. ; Z. G. Simmons, Vicc-Pres. & Treas., Kenosha, Wis. ; J. B. Glasser, Sec., Manitou, Col. GENERAL OFFICE, Manitou, Col. MISSISSIPPI RIVER AND BONNE TERRE RY.— Riverside to Doe Run, Mo., 47.47 m. — total track (steel; 56 and 75 IDS.), 74.53 miles. Gauge, 4 ft. 8J in. Chartered June, 1888; road opened March 10, 1890. (See MANUAL for 1894, page 226.) Locomotives, 16. Cars — passen- ger, 4; combination, 2; baggage, 1; freight (box, 20; dump, 513; coal, 34), 567; service, 9 — total, 583. Operations, year ending June 30, 1902. — Trains run (passenger, 105,287; freight, 73,315), 178,602 miles. Passengers carried, 131,246 ; carried one mile, 1,406,046. Tons freight moved, 958,866; ton-miles, 24,918,337. Earnings (passenger, $53,669; freight, $484,175; other, $50,327), $588,170. Operating expenses, $503,334. Net earnings, $84,836 ; other receipts, $2,040 — total, $86,876. Payments : Interest on bonds, $30,000 ; other interest, $8,321 ; taxes, $6,724 ; dividends (6 p. c.), $36,000 — total, $81,045. Surplus, $5,831; surplus forward, $129,068 — total, $134,899. Deductions during the year, $8,000. Net surplus, $126,899. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $600,000; funded debt (1st 6s of Nov. 1, 1898), $500,000; current liabilities, $282,870; profit and loss, $126,899 — total, $1,509,769. Contra : Cost of road and equipment, $1,166,192 ; securities owned, $22,871 ; materials, etc., $111,817 ; cash and current assets, $123,637 ; other assets, $85,252 — total, $1,509,- 769. Directors. — J. Wyman Jones, C. B. Parsons, Gust. Setz, F. P. Graves, Bonne Terre, Mo. ; Dwight A. Jones, New York, N. Y. OFFICERS : J. WYMAN JONES, Pres. ; C. B. Parsons, Vice-Pros., Bonne Terre, Mo. ; Dwight A. Jones, 2d Vice-Pres., New York, N. Y. ; Gust. Setz, Treas. ; F. P. Graves, Sec. ; F. J. Thomure, Aud. ; J. Burns, Gen. Mgr., Bonne Terre, Mo. GENERAL OFFICE, Bonne Terre, Mo. MISSISSIPPI, ARKANSAS AND WESTERN RY.— In operation Jan. 1, 1903 : Bliss- ville to near Gaines Landing, Ark., 21 m. ; branch, Blissville to South Spur, Ark., 6 m. — total, 27 miles. Gauge, 4 ft. 8J in. Rail (steel), 40 Ibs. Chartered Jan., 1901; first portion of road opened July, 1901. Locomotives, 3. Cars — passenger, 2; baggage, etc., 1; freight (box, 6; flat, 50), 56 — total, 59. Financial Statement, Jan. 1, 1903. — Capital stock ($100 shares), $220,000; funded debt (1st mtge. 5 p. c. gold bonds of Jan., 1922), $220,000 — total stock and bonds, $440,000. Directors. — G. H. Martin, E. G. Leszynsky, Chicago, 111. ; A. T. Bliss, Saginaw, Mich. ; J. B. Shults, Blissville, Ark. ; B. Vinson, Little Rock, Ark. OFFICERS : G. H. MARTIN, Pres., Chicago, 111. ; A. T. Bliss, Vice-Pres., Saginaw, Mich. ; E. G. Leszynsky, Sec. & Treas., Chicago, 111. GENERAL OFFICE, Little Rock, Ark. MISSOURI SOUTHERN RR. — Leeper to Ellington, Mo., 29.15 m. ; total track (steel; 40 Ibs.), 30.69 miles. Gauge, 3 ft. Successor in 1887 to the Mill Spring, Current River and Barns- ville RR. Co. (See MANUAL for 1894, page 226.) The extension from Bowers to Ellington, Mo., a distance of 7.29 miles, was opened for traffic on Dec. 1, 1896. Locomotives, 6. Cars — passenger, 2; freight (box, 6; stock, 2; flat, 3; log, 102), 113; service, 2 — total, 117. Operations, year ending June 30, 1902. — Passengers carried, 2,052 ; carried one mile, 49,196. Tons freight moved, 65,478; ton-miles, 1,505,994. Earnings (passenger, $2,618; freight, $61,134), $63,752. Operating expenses, $55,864. Net earnings, $7,888. Payments : Interest on bonds, $6,000 ; taxes, $843 — total, $6,843. Surplus, $1,045. Deficit forward, $5,261. Net deficit, June 30, 1902, $4,216. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $80,000; current lia- bilities, $284,521 ; other liabilities, $339 — total, $364,860. Contra : Cost of road and equipment, $357,821 ; materials, etc., $2,823 ; profit and loss, $4,216 — total, $364,860. Directors. — P. E. Wilson, Leeper, Mo. ; Joseph Durfee, John H. Douglass, John H. Douglass, Jr., St. Louis, Mo. ; L. S. Tainter, Menominee, Wis. OFFICERS : JOHN H. DOUGLASS, Pres. & Treas., St. Louis, Mo. ; Peter E. Wilson, Vice-Pres. & Gen. Mgr. ; C. M. Wilson, Aud., Leeper, Mo. ; Joseph Durfee, Sec., St. Louis, Mo. GENERAL OFFICE, Leeper, Mo. MOSCOW, CAMDEN AND SAN AUGUSTINE RY.— Projected : Moscow to San Augus- tine, Tex., 60 miles. Completed : Moscow to Camden, Tex., 7 miles. Gauge, 4 ft. 8J in. Chartered May 5, 1898 ; road completed as above in 1898. Locomotive, 1. Cars — passenger, 1 ; freight, 3 — total, 4. Capital stock paid in, $50,000. Cost of road and equipment to Aug. 1, 1900, $30,000. Operations, year ending June 30, 1902. — Trains run (mixed), 8,664 miles. Passengers car- ried, 2,386 ; carried one mile, 16,702. Tons freight moved, 20,498 ; ton-miles, 143,486. Earnings (passenger, $477; freight, $14,732), $15,209. Operating expenses, $8,391. Net earnings, $6,818. Deductions, $940. Surplus for year, $5,878. Directors. — J. A. Handley, Hortense, Tex. ; S. Bergman, D. L. Jones, Moscow, Tex. ; W. T. Carter, E. A. Carter, J. Thomas, Camden, Tex. ; E. J. Mantook, Lufkin, Tex. ; J. E. McAshan, Hous- ton, Tex. ; C. H. Jones, Galveston, Tex. OFFICERS : W. T. CARTER, Pres., Camden, Tex. ; C. H. Jones, Vice-Pres., Galveston, Tex. ; E. A. Carter, Treas. & Supt. ; J. Thomas, Sec., Camden, Tex. GENERAL OFFICE, Camden, Tex. ORANGE AND NORTHWESTERN RR. — Projected : Buna, Tex., to Shreveport, La., 160 m. ; Orange to Nibletts Bluff, Tex., 10 m. — total, 170 miles. Completed up to July 1, 1903 : Orange to Buna, Tex., 30 m. ; Orange to South Orange, Tex., 3.5 m. — total, 33.5 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Chartered Jan. 14, 1901; road completed as above early in 1902. Locomotives, 4. Cars — passenger, 2 ; baggage, etc., 1 ; freight, 75. Financial Statement, July 1, 1903. — Capital stock, full paid, $200,000 ; other liabilities (of which directors hold $185,000), $275,000 — total, $475,000. Cost of road and equipment, $492.000. Estimated cost of road to completion, $3,500,000. Directors. — L. Miller, W. H. Stark, Edgar W. Brown, H. J. Lutchen, W. W. Reid, J. A. Holland, Orange, Tex. OFFICERS : L. MILLER, Pres. ; W. H. Stark, Vice-Pres. ; W. W. Reid, Sec. & Treas.; C. W. Hole, Gen. Mgr.; H. L. Montandon, Chief Eng., Orange, Tex. GENERAL OFFICE, Orange, Tex. OZARK AND CHEROKEE CENTRAL RY. — Projected : Fayetteville, Ark., to Shawnee, Okla., 210 miles. In operation March 20, 1903 : Fayetteville, Ark., to Okmulgee, Ind. T., 144 miles. Under construction : Okmulgee, Ind. T., to Oklahoma City, Okla., 140 m. ; Muskogee, Ind. T., to Fort 564 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Smith, Ark.. 100 m. ; Fayetteville to Jasper, Ark., 75 m. — total, 315 miles. Gauge, 4 ft. 81 in. Rail (steel), 60 Ibs. History. — Reorganization in 1901 of the North Arkansas and Western Ry. Co. The line from Muskogee to Okmulgee, Ind. T., 40 miles, was built under the charter of the Shawnee, Okla- homa and Missouri Coal and Ry. Co., and was absorbed by this company on March 13, 1903. The Muskogee City Bridge Co., owning a steel railroad and highway toll bridge across the Arkansas River, near Fort Gibson, Ind. T., was absorbed on March 14, 1903. Financial Statement, March 20, 1903. — Capital stock ($100 shares), $2,000,000. Funded debt : $2,000,000 O. & C. C. Ry. Co. 1st gold 4s of Oct. 1, 1941, subject to redemption at 105 after 1911, and $780,000 S., O. & M. C. & Ry. Co. 1st gold 4s of July 1, 1942, subject to redemption at par on and after July 1, 1907. On March 16, 1903, the company decided to increase the capital stock to $9,000.000 and to issue $9,000,000 of 5 p. c. 40-yr. gold bonds to take up the present out- standing bonds and provide for the construction of additional lines. Directors. — H. W. Seaman, St. Louis, Mo. ; E. E. Hughes, Fayetteville, Ark. ; A. M. Cooper, Clinton, la. ; J. H. Mcllroy, J. J. Baggett, W. L. Stuckey, E. W. Boynton, Fayetteville, Ark. OFFI- CERS : H. W. SEAMAN, Pres., St. Louis, Mo.; E. E. Hughes, Vice-Pres. ; J. C. Duffln, Sec., Fayette- ville, Ark. GENERAL OFFICE, Fayetteville, Ark. PABAGOT7LD AND MEMPHIS BY.— In operation July 1, 1903 : Caldwell, Mo., to Manilla, Ark., 20 miles. Gauge, 4 ft. 8J in. Rail (steel), 56 Ibs. Locomotives, 2. Cars — pas- senger, 1 ; freight flats, 11 ; caboose, 1. Cost of road to date, $150,000. The company is planning to extend the line westward to Paragould, Ark., 12 miles, and eastward to Osceola, Ark., 20 miles. JOHN W. VAIL, Pres., Decatur, Ind. PINE BLTJFF AND WESTEBN BY. — Projected : Pine Bluff to Sheridan, Ark., 25 miles. Completed up to June 30, 1902: Pine Bluff to Doylestown, Ark., 11.52 m. ; total track (steel; 60 Ibs.), 12.76 miles. Gauge, 4 ft. 8J in. Chartered May 15, 1899; road opened to Doylestown, May 1, 1900, extended to Sheridan, Feb. 2, 1903. An extension from Sheridan, Ark., to Benton, La., 25 miles, is under construction. Locomotives, 5. Cars — freight (box, 12; flat, 70), 82. Operations, year ending June 30, 1902. — Earnings (passenger, $155; freight, $40,558), $40,- 713. Operating expenses, $29,123. Net earnings, $11,590. Deductions, $619. Surplus for year, $10,971. Financial Statement, July 1, 1903. — Capital stock ($100 shares, full paid), $250,000. A mortgage has been executed, of which the Illinois Trust Co., East St. Louis, 111., is trustee, to secure $1,200,000 1st mtge. 6 p. c. 20-yr. bonds, the proceeds of which are to be used to meet the cost of extending the road from Sheridan, Ark., to Benton, La. 25 miles. The bonds are dated Oct. 1, 1902, and will mature on Oct. 1, 1922, but are subject to call ten years from date at 105 p. c. Directors. — W. W. Cargill, La Crosse, Wis. ; D. A. Kendall, Kansas City, Mo.; W. T. Radford, J. H. MacMillan, Clarence Green, Pine Bluff, Ark. OFFICERS : W. W. CARGILL, Pres., La Crosse, Wis. ; D. A. Kendall, Vice-Pres., Kansas City, Mo. ; J. H. MacMillan, Treas. & Sec.; W. T. Radford, Supt., Pine Bluff, Ark. GENERAL OFFICE, Pine Bluff, Ark. OOTNCY, OMAHA AND KANSAS CITY BB.— West Quincy to Pattonsburg, Mo., 167.72 m. ; Kansas City, Peoria and Chicago Ry. (see appended statement), 85.67 m. — total, 253.39 miles. Sidings, 17.12 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 and 63 Ibs. Chartered June 1, 1897, as successor to the Quincy, Omaha and Kansas City Ry. Co., whose property was sold under foreclosure on April 23, 1897. Reorganized in 1902 and in the reorganization absorbed the Omaha, Kansas City and Eastern RR. (see MANUAL for 1902, page 494). Locomotives, 26. Cars — passenger, 16; baggage, mail and express, 3 ; freight (box, 211 ; flat, 21 ; stock, 280 ; coal, 293), 805 ; service, 61 — total, 885. Also, 1 steam excavator, 1 tool car and 1 pile driver. Operations, from Jan. 16 to June 30, 1902. — Passengers carried, 84,637 ; carried one mile, 1,970,747. Tons freight moved, 169,855; ton-miles, 13,452,325. Earnings (passenger, $62,828; freight, $129,197; other, $982), $193,007. Operating expenses, $187,881. Net earnings, $5,126. Charges : Interest, $26 ; taxes, $9,483 — total, $9,509. Deficit, $4,382. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,500,000; funded debt (no details furnished), $1,750,000; current liabilities, $96,830; taxes, $9,325; receiver, O., K. C. & E. RR., $26,175 ; receiver, K. C. & N. C. RR., $2,057 — total, $3,384,387. Contra : Cost of road and equipment, $3,263,243 ; materials, etc., $49,499 ; cash and current assets, $64,489 ; other assets, $2,774 ; profit and loss, $4,382 — total, $3,384,387. RAILROAD OPERATED IN CONNECTION WITH THE Q., O. & K. C. RR. Kansas City, Peoria and Chicago Ry. — Northern June, to Pattonsburg, Mo., 75.20 m. ; Trimble to Gower, Mo., 10.47 m. — total, 85.67 .miles. Reorganization in 1901 of the Kansas City and Northern Connecting RR. (see MANUAL for 1902, page 495). The branch from Trimble to Gower is leased to the St. Joseph and Grand Island RR. Co. Locomotives, 2. Cars — passen- ger, 9 ; baggage, etc., 3 ; freight, 14 ; service, 3 — total, 29. 857,421. Tons freight moved, 125,126 ; moved one mile, 4,601,615. Earnings (passenger, $23,225: freight, $45,357; other, $16,085), $84,667. Oper- ating expenses, $80,502. Net earnings, $4,165. Paid taxes, $4,929. Deficit, $764. Balance Sheet, June 30, 1902. — Capital stock, $2,630,000 ; accrued taxes, $4,855 ; receiver, K. C. & N. C. RR., $2,031 — total, $2,636,886. Contra: Cost of road, $2,631,032 ; cash and current assets, $4,828 ; sinking fund, $262 ; profit and loss, $764 — total, $2,636,886. Operations, from Jan. 16, to June 30, 1902. — Passengers carried, 31,732 ; carried one mile, Directors, Q., O. & K. C. RR. Co. — George F. Baker, Jr.. S. H. Smith, Wm. E. Purdy, Wm. J. Nevins, New York, N. Y. ; George W. Dulaney, Andrew Ellison, C. A. Bealey, Milan, Mo. OFFICERS : GEORGE F. BAKER, JR., Pres., New York, N. Y. ; Samuel F. Miller, Sec. & Treas., Milan, Mo. GEN- ERAL OFFICE, Milan, Mo. BIO G-BANDE AND EAGLE PASS BY.— Laredo to Minera, Tex., 25 m. ; Cannel Junction to Cannel, 0.50 m. — total, 25.50 miles. Sidings, 1 mile. Gauge, 4 ft. 8i in. Rail (steel, 7.5 m.), 56 Ibs. Locomotives, 3. Cars — passenger, 1; freight (flat, 2; coal, 57), 59 — total, 60. Reorganization (and date of charter), May 29, 1885, of the Rio Grande and Pecos Ry. Co. (see MANUAL for 1892, page 541). Projected to Eagle Pass, 135 miles from Laredo. Operations, year ending June 30, 1902. — Trains run (freight), 16,406 miles. Passengers car- ried, 4,743 ; carried one mile, 11,857. Tons freight moved, 128,258 ; ton-miles, 3,206,450. Earn- ings (passenger, $3,637; freight, $83,757; other, $6,085), $93,479. Operating expenses, $57,630. POOR'S MANUAL OP RAILROADS. 565 Net earnings, $35,849 ; other receipts, $2,242 — total, $38,091. Payments : Interest on bonds, $12,- 000 ; taxes, $1,445 — total, $13,445. Surplus, $24,646 ; surplus forward, $132,617 — total, $157,263. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $600,000; funded debt (1st 5s of Oct. 1, 1929), $600,000; current liabilities, $10,101; exchange, $282; profit and loss, $157,264 — total, $1,367,647. Contra : Cost of road and equipment, $1,225,126 ; securities owned, 562,784 ; real estate, $17,698 ; materials, etc., $959 ; cash and current assets, $61,080 — total, $1,367,647. Interest on Bonds.— Under the mortgage the company Is allowed to expend Its net earnings for betterments and necessary Improvements. Since 1891 there has been nothing earned for the bondholders. Directors. — J. J. Haynes, D. H. Randolph, J. K. Baretta, G. H. Bushnell, C. G. Jackson, G. W. Morton, Laredo, Tex. ; C. B. Wright, W. T. Wright, F. M. Dick, Philadelphia, Pa. OFFICERS : C. B. WRIGHT, Pres., Philadelphia, Pa.; C. G. Jackson, Vice-Pres. ; G. H. Bushnell, Sec.; G. W. Mor- ton, Treas., Laredo, Tex. GENERAL OFFICE, Laredo, Tex. BIO GRANDE AND PAGOSA SPRINGS RR.— Projected : Lumberton, N. M., to Pa- gosa Springs, Col., 38 miles. Completed March 1, 1903 : Lumberton, N. M., to Blanco, Col., 22 m. ; total track (steel ; 30 Ibs.), 27 miles. Gauge, 3 ft. Chartered Jan. 16, 1895. Road built from Lum- berton, N. M., to Edith, Col., 6 m., in 1895 ; extended from Edith to Chromo, Col., 5 m., in 1896 ; from Chromo to Price, Col., 6 m., in 1898 ; from Price to Blanco, Col., 5 m., in 1902. Locomotives, 3. Cars — passenger, 1; freight (flat, 2; log, 40), 42 — total, 43. Freight cars of the D. & R. G. RR. are used. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $55,000; construc- tion, $60,009 — total, $115,009. Contra : Cost of road, $98,720 ; equipment, $16,289 — total, $115,- 009. Directors. — Charles D. McPhee, J. J. McGinnity, Wm. P. McPhee, Denver, Col. ; E. M. Biggs, Edith, Col.; J. D. Biggs, Cafion City, Col. OFFICERS: E. M. BIOGS, Pres. & Treas.; Edith, Col.; C. D. McPhee, Vice-Pres.; John J. McGinnity, Sec., Denver, Col. GENERAL OFFICE, Denver, Col. RIO GRANDE RR. — Brownsville to Isabel, Tex., 22.5 miles. Rail (steel, 3.5 m.), 35 Ibs. Gauge, 3 ft. 6 in. Locomotives, 3. Cars — passenger, 4; baggage, etc., 1; freight (box, 25; stock, 1; flat, 24), 50; other, 2 — total, 57. Also 2 lighters operating between Isabel and Brazos Santiago Harbor, 6 miles. Chartered Aug. 23, 1870 ; road opened July 4, 1872. Operations, year ending June 30, 1902. — Passengers carried, 5,500 ; carried one mile, 123,- 750. Tons freight moved, 5,100; ton-miles, 114,750. Earnings (passenger, $2,504; freight, $26,- 917; other, $39), $29,460. Operating expenses, $20,497. Net earnings, $8,964. Total deductions, $4,906. Surplus for year, $4,058. General Balance Sheet, June 30, 1898 (latest rendered). — Capital stock paid In ($500,000 auth. ; $100 shares), $255,200; funded debt (1st 6s of April 1, 1915), $52,000 ; current liabilities, $170; profit and loss, $136,794 — total, $444,164. Contra: Cost of road and equipment, $430,739 ; materials, etc., $1,016 ; cash and current assets, $12,410 — total, $444,164. Bonds outstanding June 30, 1902, $49,000. Directors. — A. Celaya, S. Celaya, Thos. Carson, C. Jagon, J. B. Wells, G. Champion, Browns- ville, Tex. ; M. H. Cross, Matamoros, Mex. OFFICERS : A. CELAYA, Pres. ; Jos§ Celaya, Treas. & Gen. Mgr.; F. Rivadulla, Sec., Brownsville, Tex. GENERAL OFFICE, Brownsville, Tex. RIO GRANDE JUNCTION RY. — Rifle to Grand Junction, Col., 62.08 miles. Gauge, 4 ft. 8J in. Rail (steel), 65 and 85 Ibs. Chartered June 26, 1889; road opened Nov. 16, 1890. Leased till Jan. 1, 1940, to the Denver and Rio Grande RR. and the Colorado Midland Ry. Cos., the lessees to pay as rental 30 p. c. of the gross earnings of each company over the line, the minimum rental to be equal to the interest on the outstanding bonds of this company. Principal and interest of bonds guaranteed jointly and severally by lessees of the property. Operations included in lessees' state- ments. Income Account, year ending Nov. 30, 1902. — Receipts, $171,936 on account of rental. Pay- ments: Interest on bonds, $92,500; dividend No. 5 (4 p. c. paid in Jan., 1902), $80,000; other payments, $117— total, $172,617. Deficit, $681 ; surplus forward, $80,179 ; net surplus, $79,498. General Balance Sheet, Nov. 30, 1902. — Capital stock ($100 shares), $2,000,000; funded debt (1st gold 5s of Dec. 1, 1939; $2,000,000 auth), $1,850,000; current liabilities, $82; interest accrued, $46,325 ; profit and loss, $79,498 — total, $3,975,905. Contra : Cost of road, $3,849,300 ; cash on hand, $47,107 ; due by lessees, $79,498 — total, $3,975,905. Directors (elected Oct. 21, 1902). — E. T. Jeffery, Frank Trumbull, G. W. Kramer, C. H. Schlacks, Joel F. Vaile, J. W. Gilluly, E. R. Murphy, Denver, Col. OFFICERS : E. T. JEFFEHY, Pres.; Frank Trumbull, Vice-Pres.; E. R. Murphy, Sec.; J. W. Gilluly, Treas.; W. S. Wing, Aud., Denver, Col. GENERAL OFFICE, Denver, Col. ROCK PORT, LANGDON AND NORTHERN RY.— Rock Port to Langdon, Mo., 5.60 miles. Gauge, 4 ft. 8£ in. Total track (steel; 56 Ibs.), 6 miles. Chartered Dec. 30, 1889; road completed July, 1890. Locomotive, 1. Cars — combination, 1; freight (box, 1; flat, 1), 2 — total, 3. Operations, year ending June 30, 1902. — Earnings (passenger, $2,253; freight, $4,099; other, $150), $6,502. Operating expenses, $5,337. Net earnings, $1,165. Charges (including interest on bonds, $1,500), $1,656. Deficit, $491; deficit forward, $2,875 — total, $3,366. General Balance Sheet, June 30, 1902. — Capital stock paid in ($90,000 auth. ; $100 shares), $55,000; funded debt (1st 6s of Jan., 1911), $25,000; current liabilities, $4,950 — total, $84,950. Contra : Cost of road and equipment, $80,000 ; cash and current assets, $1,586 ; profit and loss, $3,364 — total, $84,950. Directors. — John P. Lewis, Wm. T. Buckham, George Freihoffer, C. Deatz, John Kinerim, Rock Port, Mo. OFFICERS : JOHN P. LEWIS, Pres. ; Wm. T. Buckham, Vice-Pres. ; Geo. Freihoffer, Treas.; John D. Dopf, Sec. & Aud.; Henry Warneke, Oen. Mgr., Rock Port, Mo. GENERAL OFFICE, Rock Port, Mo. ST. JOSEPH TERMINAL RR.— This company, chartered Jan. 5, 1887, owns and operates 1.02 m. of main line and 7.33 m. of sidings, a total of 8.35 miles of yard tracks, in St. Joseph, Mo. It receives and delivers freight, does switching, etc., for The Atchlson, Topeka and Santa Fe and the St. Joseph & Grand Island Ry. Cos. Operating expenses are disposed of by direct charge to each company each month On the basis of tonnage and number of cars handled. Rail (steel) 56 and 60 Ibs. Gauge, 4 ft. 8J in. Locomotives, 3. Operations, year ending June 30. 1902. — Gross earnings (switching, $25,419- rentals $11,- 378), $36,797. Operating expenses, $102,164; Interest on bonds, $17,500; taxes $5,132 — total, 566 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. $124,796. Deficit, $87,999. This deficit was assumed by The Atchison, Topeka and Santa Fe Ry. Co. and St. Joseph and Grand Island Ry. Co. General Balance Sheet, June 30, 1902 — Capital stock ($500,000 auth. : $100 shares), $300,000; funded debt (1st 5s of Aug. 1, 1918; $500,000 auth.), $350,000; current liabilities. $12,593 ; interest accrued, $7,292 — total, $669,885. Contra : Cost of road and equipment, $643,- 935 ; cash and current assets, $25,950 — total, $669,885. Directors (elected June 11, 1902). — Raymond Du Puy, T. F. Van Natta, F. C. Uhlman, St. Joseph, Mo. ; C. F. Resseguie, H. U. Mudge, Topeka, Kan. OFFICERS : RAYMOND Du PUY, Pres., St. Joseph, Mo. ; E. Wilder, Treas., Topeka, Kan. ; F. C. Uhlman, Sec. & Aud., St. Joseph, Mo. GEN- ERAL OFFICE, St. Joseph, Mo. ST. JOSEPH UNION DEPOT CO. — Chartered March 22, 1880 ; depot opened May 1, 1882. The B. & Mo. Riv. RR. in Neb., the C., B. & Q., the C., R. I. & P., the H. & St. J., the K. C., St. J. & C. B., the M. P., the St. J. & G. I., and the Atchison use the station jointly. Each company owns $1,000 of the capital stock. Income Account, year ending June 30, 1902. — Rentals received, $15,600. Paid interest on bonds, $2,910. Surplus, $12,690 ; surplus forward, $166,955 — total, $179,645. General Balance Sheet, June 30, 1902. — Capital stock, $9,000 ; funded debt ( 1st 6s of Jan. 1, 1906), $44,000; vouchers, $3,615; profit and loss, $179,645 — total, $236,260. Contra: Cost of road and equipment, $217,606 ; cash and current assets, $18,654 — total, $236,260. Bonds Redeemed. — Since the date of the preceding statement $9,000 of the bonds have been redeemed, leaving $35,000 outstanding. Directors. — H. U. Mudge, M. A. Low, Topeka, Kan. ; O. M. Spencer, A. T. Perkins, S. E. Crance, Raymond Du Puy, St. Joseph, Mo. ; C. A. Goodnow, Chicago. 111. ; C. M. Levey, Russell Harding, St. Louis, Mo. OFFICERS: RAYMOND Du PUY, Pres.; E. C. Browne, Sec. & Treas., St. Joseph, Mo. GENERAL, OFFICE, St. Joseph, Mo. ST. LOUIS AND HANNIBAL BY.— Hannibal to Gilmore, Mo., 85 m. ; Rails June, to Perry, Mo., 18 m. — total, 103 m. ; total track, 107 miles. Gauge, 4 ft. 8J in. Rail (steel, 103 m.), 70 Ibs. Chartered June 3, 1872; main line opened in 1882; branch in 1892. (See MANUAL for 1892, page 936.) Locomotives, 8. Cars — passenger, 5; baggage, etc., 3; freight (box, 83; stock, 15; flat, 5; coal, 30), 133 — total, 141. Operations, year ending June 30, 1902. — Passengers carried, 74,867 ; carried one mile, 182,- 200. Tons freight moved, 93,307; ton-miles, 3,510,337. Earnings (passenger, $47,605; freight, $101,498; other, $15,610), $164,713. Operating expenses, $113,338. Net earnings, $51,375. Pay- ments : Interest on bonds, $12,500 ; taxes, $6,731 — total, $19,231. Surplus, 32,144 ; surplus for- ward, $88,778 — total, $120,922. General Balance Sheet, June 30, 1902. — Capital stock ($1,000,000 auth.; $100 shares), $462,000 ; funded debt, $630,000 ; current liabilities, $14,284 ; profit and loss, $120,922 — total, $1,227,206. Contra : Cost of road and equipment, $1,098,008 ; materials, etc., $7,414 ; cash and current assets, $121,784 — total, $1,227,206. Funded Debt, on June 30, 1902, consisted of $380,000 ($600,000 auth.) 1st 7s of 1936 and $250,000 income 5s of 1933. Additional particulars will be found in the Ready Reference Bond List — see General Index. Directors. — S. S. Palmer. M. T. Cox, C. L. Blair, New York, N. Y. ; D. C. Blair, Belvidere, N. J. ; J. A. Jordan, J. M. Worland, H. M. Modisett, Hannibal, Mo. OFFICERS : S. S. PALMER, Pres., New York, N. Y. ; J. A. Jordan, Vice-Pres. & Gen. Mgr., Hannibal, Mo. ; M. T. Cox, Sec. & Treas., New York, N. Y. ; J. M. Worland, Aud., Hannibal, Mo. GENERAL OFFICE, Hannibal, Mo. ST. LOUIS AND NORTH ARKANSAS RR.— Seligman, Mo., to Harrison, Ark., 65.98 m. ; Junction to Eureka Springs, Ark., 2 m. ; Freeman to Berryville, 2.80 m. — total, 70.78 m. ; total track (steel; 65 Ibs.), 76.84 miles. Gauge, 4 ft. 8J in. Chartered May 25, 1899. Successor by pur- chase, Feb. 1, 1900, to the Eureka Springs Ry. Co. (see MANUAL for 1899, page 601). Road opened as above, April 15, 1901. Locomotives, 4. Cars — passenger, 3; freight (flat), 6 — total, 9. Operations, year ending June 30, 1902. — Passengers carried, 162,135 ; carried one mile, 3,766,397. Tons freight moved, 62,328; ton-miles, 2,628,371. Earnings (passenger, $94,065; freight, $137,738), $231,803. Operating expenses, $123,932. Net earnings, $107,871. Payments: Interest on bonds, $121,042 ; taxes, $6,775 — total, $127,817. Deficit for year, $19,946. Surplus forward, $57,248. Net surplus, $37,302. General Balance Sheet, June 30, 1902. — Current liabilities, $70,589 ; profit and loss, $37,- 302 — total, $107,891. Contra : Cost of road and equipment. $73,411 ; materials, etc., $4,617 ; cash and current assets, $29,863 — total, $107,891. Directors.' — John Scullin, C. H. Smith, F. J. Wade, St. Louis, Mo. ; O. W. Watkins, George West, Eureka Springs, Ark. ; J. W. Freeman, Berryville, Ark. ; G. J. Crump, Harrison, Ark. OFFI- CERS : JOHN SCULLIN, Pres. ; G. L. Sands, Vice-Pres., St. Louis, Mo. ; George West, Sec. & Mgr., Eureka Springs, Ark. ; T. A. McMillan, Treas., St. Louis, Mo. GENERAL OFFICE, Eureka Springs, Ark. ST. LOUIS MERCHANTS' BRIDGE TERMINAL RY.— In St. Louis, Mo., 7.44 m. ; total track (steel; 67 Ibs.), 14.62 miles. Operated: Madison, 111., and St. Louis Ry., 4.30 miles. Locomotives, 16. Cars — passenger, 9 ; caboose, 2 ; dump, 20 ; other, 2 — total, 33. Chartered Aug. 18, 1887. This company is closely afliliated with the Terminal RR. Association of St. Louis. Financial Statement, Dec. 31, 1902. — Capital stock (auth., $3,500,000), $2,939,500. Funded debt (1st 5s of Oct. 1, 1930), $3,500,000. The company leases the Merchants' Bridge, upon which there are outstanding $2,000,000 1st 6s — due Feb. 1, 1929, but redeemable after Feb. 1, 1909, at 110. The T. RR. A. of St. L. guarantees the first mtge. bonds of Oct. 1, 1930, both as to principal and interest, and guarantees the interest on the Merchants' Bridge Ists of Feb. 1, 1929 Directors. — Not reported. OFFICERS : JOHN H. OVERALL, Pres. ; C. K. D. Walsh, Vice-Pres. ; Frederick C. Daab, Treas.; H. D. Heuer, Sec., St. Louis, Mo. OFFICE, Union Station, St. Louis, Mo. LEASED TO ST. L. M. B. TERMINAL RY. Madiaon, Illinois and St. I.onis Ry. — Merchants' Bridge to Granite City, 111., etc., 4.3 miles. Rail (steel), 67 Ibs. Chartered Feb. 18, St. L. M. B. T. Ry. Co. Cost of road, $372,725. JOHN H. OVERALL, Pres.; H. D. Heuer, Sec. & Treas. OFFICE, St. Louis, Mo. 1889 ; road opened July 1, 1890. Operated by the ST. LOUIS, SAN FRANCISCO AND NEW ORLEANS RY.— Projected : Hope, Ark., to Lawton, Okla., 300 miles. In operation May 1, 1903 ; Ashdown, Ark., to Madill, Ind. T., 166 miles. Under construction: Hope, Ark., to Ardmore, Ind. T., 223 miles. Gauge, 4 ft. 8J in. Rail (steel), POOR'S MANUAL OP RAILROADS. 567 65 Ibs. Reorganization, Oct. 12, 1902, of the Arkansas and Choctaw Ry. Co. (see MANUAL for 1902, page 759). The road is operated by the St. Louis and San Francisco RR. Co. An extension from Madill to Ardmore, Ind. T., about 57 miles, was completed but not in operation .July 1, 1903. Financial Statement, May 1, 1903. — Capital stock ($9,000,000 common, $2,500,000 pre- ferred), $11,500,000. Funded debt: $5,875,000 ($8,750,000 auth.) 1st gold 4s of Dec. 1, 1942, subject to redemption at par and interest on or before Jan. 1, 1905. The unissued bonds are re- served for the construction of the extension to Lawton, for the construction or acquisition of other lines and for betterments and new equipment. Directors. — James Campbell, B. R. Davidson, C. M. Boswell, Carl Schuman, W. P. Newton, St. Louis, Mo. OFFICKRS : JAMES CAMPBELL, Pres. ; B. R. Davidson, Vice-Pres. ; W. P. Newton, Sec.; F. W. Young, Treas., St. Louis, Mo. GENERAL OFFICE, St. Louis, Mo. ST. LOUIS TRANSFER RY. — East Grand Ave. to Arsenal St., St. Louis, Mo., 6.36 m. — total track (steel; 55 to 70 Ibs.), 12.34 miles. Gauge, 4 ft. 8i in. Chartered June 19, 1884; road opened July 1, 1890. Locomotives, 8. Operations, year ending June 30, 1902. — Earnings (switching), $163,364. Operating expenses, $125,338. Net earnings, $38,026. Payments: Interest on floating debt, $13,016; taxes, $9,344; other charges, $19,316 — total, $41,676. Deficit, $3,650 ; surplus forward, $49,820 — net surplus, $46,170. General Balance Sheet, June 30, 1902. — Capital stock ($250,000 auth.; $100 shares), $199,800 ; current liabilities, $289,416 ; profit and loss, $46,170 — total, $535,386, representing cost of road and equipment. Directors. — W. K. Kavanaugh, E. B. Pryor, C. H. Beggs, C. A. Goodnow, and W. E. Morse. OFFICERS: W. K. KAVANAUGH, Pres.; E. B. Pryor, Vice-Pres.; J. E. Gathright, Sec. & Treas., St. Louis, Mo. SAN ANTONIO AND QULF RR.— San Antonio to Stockdale, Tex., 38 m. — total track (steel; 60 Ibs.), 39.13 miles. Gauge, 4 ft. 8J in. Chartered March 31, 1897, as successor to the San Antonio and Gulf Shore Ry. (see MANUAL for 1897, page 218). Originally projected from San Antonio to Velasco, Tex., a distance of 200 miles, and grading was completed to Stockdale by the old company. Locomotives, 2. Cars — passenger, 2; baggage, etc., 1; freight (box, 4; flat, 10), 14 — total, 17. Operations, year ending June 30, 1902. — Trains run (mixed), 26,660 miles. Passengers carried, 15,316 ; carried one mile, 409,930. Tons freight moved, 28,646 ; ton-miles, 833,465. Earn- ings (passenger, $15,230; freight, $51,719; other, $2,599), $69,548. Operating expenses, $38,807. Net earnings, $30,741 ; other receipts, $620 — total, $31,361. Total deductions, $20,583. Surplus for year, $10,778. Financial Statement, June 30, 1901 (latest rendered). — Capital stock ($100 shares), $32,- 000. Cost of road and equipment, $183,373 ; land owned, $4,500 ; added equipment, $1,105 ; mate- rials, etc., $2,092 ; cash and current assets, $23,042 ; other assets, $3,371 — total assets, $217,483. Directors. — Geo. W. Brackenridge, E. E. Shackford, S. G. Newton, John A. Fraser, R. H. Ward, Otto Koehler, Otto Wahrmund, Albert Steves, John J. Stevens, San Antonio, Tex. OFFICERS : GEO. W. BRACKENRIDGE, Pres.; E. E. Shackford, Vice-Pres. & Gen. Mgr.; S. G. Newton, Sec.; John A. Fraser, Treas., San Antonio, Tex. GENERAL OFFICE, San Antonio, Tex. SILVERTON NORTHERN RR.— Silverton to Eureka, Col., 9 miles. Rail (steel), 30 Ibs. Gauge, 3 ft. Chartered Nov. 4, 1895 ; road completed as above in June, 1896. Locomotive, 1. Cars (box), 10. Operations, year ending June 30, 1902. — Trains run (mixed), 4,876 miles. Passengers car- ried, 2,945 ; carried one mile, 22,142. Tons freight moved, 45,855 ; ton-miles, 143,541. Earnings (passenger, $1,137; freight, $28,723), $29,860. Operating expenses, $15,168. Net earnings, $14,- 692. Payments: Interest on bonds, $9,000; taxes, $851; dividends (10 p. c.), $15,000; other charges, $143 — total, $24,994. Deficit, $10,302 ; surplus forward, $12,381 — net surplus. $2,079. G-eneral Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $150,000; funded debt (1st gold 5s of Jan. 1, 1946; $300,000 auth.), $180,000; current liabilities, $7,623; taxes, $260 ; profit and loss, $2,079 — total, $339,962. Contra : Cost of road and equipment, $332,968 ; materials, etc., $651 ; cash and current assets, $6,343 — total, $339,962. Directors. — Otto Mears, Fred. Walsen, Simon Guggenheim, E. L. Newhouse, Denver, Col. ; Alex. Anderson, Silverton, Col. OFFICERS: OTTO MEARS, Pres.; Fred. Walsen, Vice-Pres.; Denver, Col.; Alex. Anderson. Treas. & Sec., Silverton, Col. GENERAL OFFICE, Silverton, Col. SILVERTON RR.— Projected : Silverton, Col., to Ouray, Col., 26.60 m. ; Silverton, Col., te Mineral Point, Col., 19 m. — total, 45.60 miles. Completed up to June 30, 1898 : Silverton, Col., to Albany, Col., 18.25 m. ; spurs, 3.75 m. — total, 22 m., of which 7.5 m. are operated. Gauge, 3 ft. Rail (steel, 16 m.), 30 Ibs. Chartered July 8, 1887; road opened In 1889. Receiver appointed in July, 1899. Locomotive, 1. Cars — passenger, 2; baggage, etc., 1; freight (box), 26; caboose, 1; other, 1 — total, 31. Gteneral Balance Sheet, June 30, 1898 (latest rendered). — Capital stock ($100 shares), $350,000 ; funded debt ( 1st gold 6s of Oct. 1, 1908), $425,000 ; bills payable, $26,278 ; current lia- bilities, $7,187; interest (accrued, $6,375; unpaid, $32,100), $38,475: accrued taxes, $1,020; proat and loss, $36,076 — total, $884,036. Contra : Cost of road and equipment, $880,590 ; ma- terials, etc., $172 ; current assets, $3,274 — total, $884,036. Directors. — Otto Mears, John L. McNeil, Fred. Walsen, J. W. Schofield, Denver, Col. ; John C. Welty, Canton, O. ; S. M. Green, Milwaukee, Wis. ; Chas. H. Graham, Philadelphia, Pa. OFFICERS : ALEX. ANDERSON, Receiver, Silverton, Col. ; OTTO MEARS, Pres., Denver, Col. ; Chas. H. Graham, Vice-Pres., Philadelphia, Pa. ; John L. McNeil, Treas., Denver, Col. GENERAL OFFICE, Silverton, Col. TERMINAL RR. ASSOCIATION OF ST. LOUIS.— Consolidation of the Union Ry. and Transit Cos. and the Terminal RR. of St. Louis. The association is composed of and controlled by the Cleveland, Cincinnati, Chicago, and St. Louis Ry. Co., the Louisville and Nashville RR. Co., the Missouri Pacific Ry. Co., the Wabash RR. Co., the Baltimore and Ohio Southwestern RR. Co., the St. Louis, Iron Mountain and Southern Ry. Co., the St. Louis, Vandalia and Terre Haute RR. Co., the St. Louis and San Francisco RR. Co., the Chicago, Rock Island and Pacific Ry. Co., the Chicago and Alton RR. Co., the Chicago, Burlington and Quincy RR. Co.. the Missouri, Kansas and Texas RR. Co., the Southern Ry. Co. and the Illinois Central RR. Co., and provision is made in the agree- ment of association for admitting other lines. In addition to the property acquired by the consoli- dation (see MANUAL for 1890, page 1090), the company also purchased the properties of the Union Depot Co. of St. Louis, together with those in East St. Louis held under lease by the St. Louis Bridge 568 POOR'S MANUAL OF RAILROADS — SOUTHWESTERN GROUP. Co. The company, on Oct. 10. 1889, also acquired from the Missouri Pacific and the Wabash the lease of the St. Louis Bridge and Tunnel. All these consolidated properties are operated under one management. On Sept. 1, 1894, the new Union Station was opened for traffic. Contracts running 10 years are In effect, by which the tenant lines lease the station for $325,000 per annum and all expenses of maintenance and operation. The East St. Louis and Carondelet Ry. (see appended state- ment) was leased on March 1, 1902, and was purchased outright in Feb., 1903. On Oct. 1, 1902, the St. Louis Belt and Terminal Ry. Co. was acquired by purchase. This line is now under construction and will be in operation very shortly. Equipment, Dec. 31, 1902. — Locomotives, 38 ; flat cars, 154 ; drovers' cabooses, 3 ; coaches, 16 ; box cars, 2 ; other vehicles, 11. Operations, year ending Dec. 31, 1902. — Tons of freight moved, 5,539,509. Passengers car- ried— foot, 1,456,868 ; electric railway, 2,406,816 — total, 3,863,684. Cars moved — loaded freight, 288,578 ; empty freight, 160,634 ; passenger, 147,187 ; baggage, mail and express cars, 60,165 ; construction and free cars, 21,440 — total cars, 678,004, as against 607,071 in 1901. Earnings (pas- senger, $347,709; freight, $1,460,674; mail and express, $101,958; other, $705,019), $2,615,360. Operating expenses and taxes, $1,120,992. Net earnings, $1,494,368; other receipts (rental Union Station, $327,007; Interest on deposits, $8,887), $335,894 — total, $1,830,262. Payments: Interest on bonds (1st mtge., $315,000; 1st consols, $238,333), $553,333; other interest, $29,979; rentals (St. Louis Bridge, $591,900; Tunnel RR., $75,000; leased property, $139,296), $806,196; im- provements, $73,411 — total, $1,462,919. Surplus, $367,344 ; surplus forward, $1,647,446 ; less sun- dry uncollectible accounts, $470 — net surplus, $2,014,322. General Balance Sheet. Dec. 31, 1902. — Capital stock ($100 shares), $1,441,200; funded debt, $12,090,000 ; special construction fund, $787,900 ; bills payable, $1,987,579 ; current liabilities, $715,501; interest accrued, $184,042; rentals accrued, $94,121; other liabilities, $18,111; profit and loss, $2,014,322 — total, $19,332,776. Contra : Cost of road and equipment, $14,309,449 ; se- curities owned, $1,433,400 ; materials, etc., $250,507 ; cash and current assets, $3,339,420 — total, $19,332,776. Funded Debt. — The funded debt outstanding on Dec. 31, 1902 — total, $12,090,000, as per gen- eral balance sheet, consisted of $7,000,000 1st gold 41s of Oct. 1, 1939 ; $5,000,000 1st consol. gold 6s of Aug. 1, 1944, and $90,000 1st real estate bends. The authorized issue of consol. mtge. bonds is $12,000,000, of which bonds amounting to $7,000,000 are reserved to take up the 1st mtge. 44 p. c. bonds. Additional particulars respecting the funded debt will be found in the Ready Reference Bond List — see General Index. The West Belt Line is organized as a separate corporation, under the name of the St. Louis Terminal Ry. Co., and its stock and 1st mtge. bonds, amounting to $1,200,000 each, have been ac- quired by the Terminal RR. Association, and deposited with the trustee of the 1st consol. mtge. The length of the line to its first objective point, Wabash June., at or near Page Ave., is 5 miles. General Mortgage Refunding- 4 p. c. Sinking: Pond Gold Bonds of 1953.— Under date of Dec. 12, 1902, the company executed a mortgage to the Central Trust Co. of New York and Wm. Taussig, of St. Louis, Mo., as trustees, to secure an issue of $50,000,000 of gold refunding sinking fund 4s of Jan. 1, 1953. A sinking fund provides for the redemption of $100,000 bonds in each year, beginning July 1, 1906, by lot at 110 or by purchase at a less price. The entire issue is subject to call at 110 and interest on Jan. 1, 1910, or any interest day thereafter. Bonds amounting to $17,- 500,000 are reserved to retire an equal amount of prior lien bonds, and $14,500,000 are issuable after Jan. 1, 1906, at not exceeding $1,000,000 in any one year, for betterments, improvements and acquisition of additional properties. The remaining $18,000,000 have been sold and the proceeds are to be used for immediate extensive additions and improvements in the terminals, etc., at St. Louis and East St. Louis, and for the acquisition of additional properties, including the entire capi- tal stocks of the East St. Louis and Carondelet Ry. Co., Granite City and Madison Belt RR. Co., St. Louis Belt and Terminal Ry. Co., and Terminal Realty Co. The mortgage covers the entire property and appurtenances of the Terminal RR. Ass'n and its constituent companies, subject only to the liens of the 1st gold 4Js and 1st consol. gold 5s. As of July 1, 1903, there were $13,000,000 of the refund- ing bonds outstanding. Guaranteed Bonds. — The company guarantees, by endorsetnent, the principal and interest of $3,500,000 1st gold 5s of Oct. 1, 1930, which are a 1st lien on the St. L. M. B. T. Co.'s property. That company was organized in 1887 to furnish further facilities for increased traffic at St. Louis. Contracts have been made with the Chicago, Burlington and Quincy and the Missouri, Kansas and Texas Ry. Cos. for their use of the M. B. T.'s elevated railway, to enable them to reach the new Union Station, at a joint rental of $50,000 per year. PROPERTIES OWNED OR LEASED BY THE T. RR. ASSN. OF ST. Louis. Bast St. Louis and Carondelet Ry.- East St. Louis to East Carondelet, 111., 9.07 m. ; East St. Louis June, to Falling Springs, 111., 3.67 m. ; Smith's Bay branch, 0.51 m. — total, 13.25 miles. Gauge, 4 ft. 9 in. Rail (steel), 60 Ibs. Chartered Feb. 18, 1857 ; road opened Sept. 25, 1872. Purchased by the Terminal RR. Ass'n of St. Louis, in Feb., 1903. Capital stock ($500,000 auth. ; $100 shares), $420,000. Cost of road, etc., $620,000. St. Louis Bridge Co. — Length of bridge and approaches, 6,434 feet. Length of delivery and storage tracks ( in St. Louis, 20.73 m. ; in East St. Louis, 20.29 m.), 41.02 miles. Formerly the Illinois and St. Louis Bridge Co. The property was sold under foreclosure and a new company, with the present title, formed March 17, 1879. Leased to the Terminal RR. Association of St. Louis, at a rental equivalent to interest on bonds, dividends of 6 p. c. on 1st preferred and 3 p. c. on 2d preferred stock, and $2,500 for organization expenses. The bonds as they mature are to be Directors. T. RR. Assn. of St. Louis (as constituted July 1, 1903). — A. A. Allen, Chas. M. Levey, C. G. Warner, Russell Harding, B. L. Winchell, H. I. Miller, H. B. Spencer, E. B. Pryor, W. S. paid by the lessee, but may be reissued, and lessor agrees to join in new mortgage. Dividends pay- able in gold, free of all charges. Funded debt, $5,000,000 gold 7s of April 1, 1929 ; 1st preferred stock, $2,«0,000; 2d preferred stock, $3,000,000; common stock, $2,500,000. The common stock is held in trust by the Mercantile Trust Co. of New York, which has the right of voting it at the meetings of the Bridge Co., but otherwise it be- longs to the lessee. William Taussig, Pres. ; Julius S. Walsh. Vice-Pres. ; Victor W. Fisher, Sec. & Treas., St. Louis, Mo. Tunnel RR. of St. Louis Length of tun- nel, about 1 mile. Formerly the St Louis Tunnel RR. Sold under foreclosure and present company organized. Leased to the T. RR. A. of St. L., at a yearly rental equivalent to 6 p. c. on the capi- tal stock and $2,500 for expenses of organization. Capital stock ($100 shares), $1,250,000. William Taussig, Pres. ; Julius S. Walsh, Vice-Pres. ; Vic- tor W. Fisher, Sec. & Treas., St. Louis, Mo. POOR'S MANUAL OF RAILROADS. 569 McChesney, Jr., St. Louis, Mo. ; Wm. M. Greene, C. E. Schaff, Cincinnati, O. ; C. H. Warren, S. M. Felton, J. T. Harahan, Chicago, 111. ; M. H. Smith, Louisville, Ky. OFFICERS : JULIUS S. WALSH, Chairman of Board; W. S. McChesney, Jr., Pres. ; C. A. Vinnedge, Sec. & And.; F. C. Daab, Treas., St. Louis, Mo. TEXAS, ARKANSAS AND LOUISIANA BY. — Atlanta to Bloomburg, Tex., 7.7 m. ; total track (steel; 35 Ibs.), 8 miles. Gauge, 4 ft. 8J in. Chartered Aug. 14, 1897; road built in 1897. Connects the T. & P. Ry. at Atlanta, Tex., and the K. C. South. Ry. at Bloomburg, Tex. Lo- comotives, 2. Cars — passenger, 2; freight, 26 — total, 28. Capital stock paid in ($200,000 auth.), $50,000. Cost of road, etc., $60,000. Operations, year ending June 30, 1902. — Tons freight moved, 9,266 ; ton-miles, 71,348. Earn- ings (passenger, $1,344; freight, $10,423), $11,767. Operating expenses, $13,366; charges, $4,746 — total, $18,112. Deficit for year, $6,345. Directors. — A. C. Smith, B. F. Ellington, C. A. Smith, M. L. Smith, F. M. Greene, Atlanta, Tex. OFFICERS : F. M. GREENE, Pres. ; C. A. Smith, Vice-Pres. ; Geo. N. Goodwyn, Gen. Mgr., At- lanta, Tex. GENERAL OFFICE, Atlanta, Tex. TEXAS CENTRAL RR.— Ross to Stamford, Tex., 214 m. ; leased, H. & T. C. RR., Waco to Ross, Tex., 11 m. — total, 225 m. ; total track (steel, 199.5 m.), 241 miles. Rail, 56 and 60 Ibs. Organized Jan. 12, 1893, to take over the main line of the Texas Central Ry. (see MANUAL for 1898, page 226). The extension from Albany to Stamford, Tex., 39 miles, was put In operation in Feb., 1900. An extension from Ross to Waco, Tex., a distance of 11 miles, having been completed and put in operation in Sept., 1902, the use of the H. & T. C. RR. between those points was discontinued. Locomotives, 18. Cars — passenger, 14; combination, 2; baggage, etc., 5; freight (box, 135; flat, 20; coal, 30), 185; caboose, 7; other, 62 — total, 275. Operations, year ending June 30, 1902. — Trains run (passenger, 261,959; freight, 105,144), 367,103 miles. Passengers carried, 147,295; carried one mile, 6,076,140. Tons freight moved, 163,179; ton-miles, 13,578,940. Earnings (passenger, $170,158; freight, $387,356; other, $36,- 154), $593,668. Operating expenses, $422,394. Net earnings, $171,274; other receipts, $1,776 — total, $173,050. Payments: Interest on bonds, $26,330; taxes, $12,531; dividends (see below), $132,458 — total, $171,319. Surplus, $1,731 ; surplus forward, $216,599 — total, $218,330. Deduc- tions during year, $104,915. Net surplus June 30, 1902, $113,415. Dividends. — The payments for the year ending June 30, 1902, were at the rate of 5 p. c. on the preferred stock and 2i p. c. on the common stock. General Balance Sheet, June 30, 1902. — Capital stock ( common, $2,675,000 ; 5 p. c. non- cumulative preferred, $1,325,000), $4,000,000; funded debt, $1,300,000; current liabilities, $86,- 467; interest accrued, not due, $7,300; taxes, $4,800; profit and loss, $113,415 — total, $5,511,982. Contra : Property account, $4,570,663 ; bonds in treasury, $695,000 ; treasury stock, $26,200 ; ma- terials, etc., $54,658 ; Waco extension, $121,722 ; cash and current assets, $43,739 — total, $5,511,- 982. Funded Debt. — The funded debt on June 30, 1902, consisted of $1,150,000 ($2,000,000 auth.) 1st gold 5s of April 1, 1923, and $150,000 1st gold 4s of April 1, 1923. Of the $1,150,000 5 p. c. bonds, $650,000 are held in the treasury of the company, leaving in the hands of the public only $500,000 of that issue and the $150,000 4 p. c. bonds — a total of $650,000. Directors. — Henry K. McHarg, Walton Ferguson, Stamford, Conn. ; Amedee D. Moran, New York, N. Y. ; Jesse S. McLendon, Chas. Hamilton, Edward Rotan, Waco, Tex. ; Geo. T. Reynolds, Fort Worth, Tex. OFFICERS : HENRY K. MCHARG, Pres., Stamford, Conn. ; Chas. Hamilton, Vice- Pres. & Gen. Mgr. ; H. N. Marache, Sec. & And. ; Edward Rotan, Treas., Waco, Tex. ; D. Comyn Moran, Asst. Sec. & Asst. Treas., New York, N. Y. GENERAL OFFICE, Waco, Tex. New York Office, 68 William Street. TEXAS CITY TERMINAL CO. — Texas City to Texas City June., Tex., 4.5 m. ; Texas City to Shoalpoint, 1.5 m. — total, 6 m. ; total track (steel; 65 Ibs.), 7.5 miles. Gauge, 4 ft. 8J in. Built in 1893. The company owns 2 locomotives and 2 passenger cars. No statement of financial condition furnished. Operations, year ending June 30, 1902. — Earnings (passenger, $298; freight, $2,470), $2,768. Operating expenses, $3,648. Deficit, $880. Directors. — T. J. Davis, R. M. Wolvin, Duluth, Minn. ; D. H. Wilson, Texas City, Tex. OFFI- CERS : T. J. DAVIS, Pres.; R. M. Wolvin, Sec., Duluth, Minn.; D. H. Wilson, Treas. & Supt.; C. L. Crandall, Chief Eng., Texas City, Tex. GENERAL OFFICE, Texas City, Tex. TEXAS MIDLAND RR. — Ennis to Greenville, Tex., 73.57 m. ; Commerce to Paris, Tex., 37.61 m. — total, 111.18 m. ; trackage, St. L. S. W. Ry. of Tex., Greenville to Commerce, Tex., 13.97 m. — total operated, 125.15 miles. Sidings, etc., 29.90 miles. Gauge, 4 ft. 8i in. Rail — iron, 56; steel (117.96 m.), 60 and 70 Ibs. Organized May 23, 1893, and on the 25th of that month acquired the Northeastern Division of the Texas Central Ry. (See MANUAL for 1895, page 257, and MANUAL for 1898, page 226.) Locomotives, 17. Cars — passenger, 14; baggage, etc., 5; freight (box, 174; flat, 114; coal, 39; tank, 19), 346 — total, 365. Operations, year ending June 30, 1902. — Trains run (passenger, 181,464; freight, 95,953; other, 100,075), 377,492 miles. Passengers carried, 202,020; carried one mile, 5,149,051. Tons freight moved, 220,542; ton-miles, 12,668,809. Earnings (passenger, $132,520; freight, $378,998; other, $26,740), $538,258. Operating expenses, $457,270. Net earnings, $80,988; other receipts, $4,214 — total, $85,202. Payments : Interest on bonds, $45,000 ; taxes, $14,467 ; other charges, $3,671 — total, $63,138. Surplus, $22,063; deficit forward, $519,808; net deficit, $497,745. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $500,000; funded debt ($150,000 1st 5s and $750,000 2d 5s, both due in 1993), $900,000; current liabilities, $2,055,- 229 — total, $3,455,229. Contra : Cost of road and equipment, $2,750,941 ; materials, etc., $83,- 819; cash and current assets, $121,334; other assets, $1,390; profit and loss, $497,745 — total, $3 455 229 Directors. — E. H. R. Green, W. P. Allen, Terrell, Tex. ; John B. Dodd, Wm. J. Quintan, Jr., New York, N. Y. ; J. S. Lockwood, San Antonio, Tex. ; M. B. Loyd, Fort Worth, Tex. ; E. M. Rear- don, Dallas, Tex. OFFICERS : E. H. R. GREEN, Pres. & Gen. Mgr., Terrell, Tex. ; M. B. Loyd, Vice- Pres., Fort Worth, Tex.; J. 3. Lockwood, Asst. to Pres.. San Antonio, Tex.; T. E. Corley, Treas., Sec. & And., Terrell, Tex. GENERAL OFFICE, Terrell, Tex. TEXAS, SABINE VALLEY AND NORTHWESTERN RY.— Projected : Sabine Pass to Red River, 350 miles. Completed : Longview to Boren, Tex., 40 m. ; total track (steel ; 50 Ibs.), 43.39 miles. Gauge, 4 ft. 8J in. Rail (steel), 50 Ibs. Successor to a company of the same name, whose property was sold under foreclosure March 2, 1897 (see MANUAL for 1898, page 227). The 570 POORS MANUAL OF RAILROADS — SOUTHWESTERN GROUP. company operates tbe Marshall, Timpson and Sabine Pass Ry. under a traffic agreement (see ap- pended statement). Capital stock ($100 shares), $100,000. Locomotives, 4. Cars — passenger, 6; baggage, etc., 1; freight (box, 11; flat, 10), 21; caboose, 1 — total, 29. Operations, year ending June 30, 1902. — Earnings (passenger, $22,598; freight, $128,468; other, $3,998), $155,064. Operating expenses, including taxes ($1,793), $120,416. Surplus, $34,648 ; surplus forward, $44,945— total, $79,593. RAILROAD OPERATED BY THE T., S. V. & N. W. RY. Co. Capital stock, $20,000; other liabilities, J2.000 — total, $22,000. Cost of road, etc., $44,000. G. M. D. Grigsby, Pres., Longview, Tex. ; T. S. Garrison, Vice-Pres. ; C. E. Sanford, Sec.,. Timpson, Tex. ; F. T. Rembert, Treas., Longview, Tex. Office, Timpson, Tex. MnrNlinll, Timpsoii and Sabine Pans Ry. — Timpson to Carthage, Tex., 19.1 miles. Rail (steel), 45 Ibs. Chartered in Aug., 1896 ; road opened in Dec., 1898. Operated under a traffic agreement, by the T., S. V. & N. W. Ry. Co. Locomotves, 1. - Cars ( passenger, 1 ; freight flats, 3), 4. Directors (T., S. V. & N. W. Ry. Co.).—G. M. D. Grigsby, W. B. Ward, J. W. Yates, G. P. Perry, E. F. Young, M. H. Lillard, W. T. Whitelock, F. T. Rembert, W. S. Mayfleld, M. J. Whitfleld. Longview, Tex. OFFICERS : G. M. D. GRIGSBY, Pres. & Gen. Mgr. ; W. B. Ward, Vice-Pres. ; F. T. Rembert, Sec. & Treas.; C. L. Taylor, Aud., Longview, Tex. GENERAL OFFICE, Longview, Tex. TEXAS SHORE LINE BY. — Projected : Grand Saline to Hoyt, Tex., 10 miles. In opera- tion Sept. 8, 1902: Hoyt to Grand Saline, Tex., 9.28 miles. Gauge, 4 ft. 8J In. Rail (steel), 52 Ibs. Chartered Feb. 28, 1901 ; road opened as above Sept. 8, 1902. Locomotive, 1 ; combination car, 1 ; freight cars, 9. Capital stock, $10,000. A mortgage has been made to the United States Mortgage and Trust Co. of New York, as trustee, to secure $150,000 1st mtge. 5 p. c. 20-yr. gold bonds, due Jan. 1, 1922, interest payable Jan. & July, at the office of the trustee. None of the bonds had been issued at the date of this statement (Feb. 25, 1903). Directors. — F. R. Blount, John Mulholland, New York, N. Y. ; D. C. Earnest, W. E. Grimes, Grand Saline, Tex. ; J. B. Seeger, J. M. McCormick, W. H. Van Wart, Dallas, Tex. OFFICERS : F. R. BLOUNT, Pres., New York, N. Y. ; D. C. Earnest, Vice-Pres. ; W. E. Grimes, Sec. & Treas., Grand Saline, Tex. ; John Mulholland, Asst. Treas., New York, N. Y. ; J. B. Seeger, Asst. Sec., Dallas, Tex. GENERAL OFFICE, Grand Saline, Tex. TEXAS SOUTHERN RY.— Wlnnsboro to Marshall, Tex., 73.7 m.— total track (steel; 35 and 40 Ibs.), 75.31 miles. Gauge, 4 ft. 8i in. Chartered March 12, 1897, as successor to the Paris, Marshall and Sabine Pass Ry. Co. (see MANUAL for 1897, page 214). In 1901 the company built a line from Ashland to Harleton, Tex., a distance of 9 miles, and one from Gilmer to a connection with the Ragley RR. in Wood County, a distance of 16.5 miles. The Ragley RR., extending northeast to Winnsboro, 15.38 miles, »£.s purchased, as were the Commercial Lumber Co. RR., from Gilmer to Ashland, 16 miles, and tne Marshall and Northwestern Ry., from Harleton to Marshall, 15 miles. These acquisitions, with some changes in the old lines, make up the mileage as aforesaid. Loco- motives, 8. Cars — passenger, 2 ; baggage, etc., 1 ; freight ( box, 84 ; flat, 6 ; coal, 15), 105 — total, 108. Of this equipment, 3 locomotives and all of the cars (except 2 flat) are held under equipment trusts. Operations) year ending June 30, 1902. — Trains run (passenger, 2,190; freight, 20,032; mixed, 67,144), 89,366 miles. Passengers carried, 6,380; carried one mile, 89,177. Tons freight moved, 105,434; ton-miles, 1,780,418. Earnings (passenger, $4,059; freight, $41,470; other, $9,328), $54,857. Operating expenses, $47,663. Net earnings, $7,194. Charges: Interest on notes, $5,859; taxes, $818 — total, $6,677. Surplus for year, $517. General Balance Sheet, June 30, 1902. — Capital stock ($300,000 auth. ; $100 shares), $79,- 980; funded debt (construction notes, etc.), $884,665; current liabilities, $84,973; interest ac- crued, $900 ; profit and loss, $979 — total, $1,051,497. Contra : Cost of road and equipment, $961,- 784 ; materials, etc., $8,256 ; cash and current assets, $81,457 — total, $1,051,497. Funded Debt. — After the close of the fiscal year the company issued $225,000 1st gold 30-yr. 5s of July 1, 1932, and $160,000 collateral trust 3-yr. 7J p. c. gold certificates of July 1, 1905. The collateral trust certificates are authorized to the amount of $375,000 and are secured by deposit of twice their face value In 1st mtge. bonds. Directors (elected June 24, 1902). — L. E. Walker, Geo. I. Walker, E. Key, E. J. Fry, W. C. Pierce, L. W. Lloyd, S. P. Jones, Marshall, Tex. ; A. L. Clark, Tyler, Tex. OFFICERS : L. E. WALKER, Pres. & Gen. Mgr.; E. J. Fry, Vice-Pres.; W. C. Pierce, Treas.; J. Copeland, Sec., Mar- shall, Tex. ; H. C. Clements, Gen. Aud., Kansas City, Mo. GENERAL OFFICE, Marshall, Tex. TRINITY AND BRAZOS VALLEY RY. — Under construction : Cleburne to Mexia, Tex., 80 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Locomotives, 3. Cars — passenger, 3; bag- gage, etc., 1; freight (box, 50; flat, 50), 100 — total, 104. Up to Aug. 1, 1903, about 12 miles of track were laid and it was expected that the line would be completed from Cleburne to Mexia by Sept. 15, 1903. The road will be extended from Mexia in a southeasterly direction to the Gulf coast, about 300 miles. Financial Statement, Aug. 3, 1903. — Capital stock ($100 shares), $300,000. No funded debt. Directors.— Not reported. OFFICERS : J. H. B. HOUSE, Pres., San Antonio, Tex. ; R. H. Baker, Vice-Pres. & Gen. Mgr., Austin, Tex. ; E. Sammons, Sec. -~ ^ML^AaLJE^Jtesfer^ srSr "^3!8» // «-k^4asav^? 573 574 POOR'S MANUAL OP RAILROADS — NORTHWESTERN GROUP. 2. Mileage Operated, June 30, 1902.— A. LINES OWNED (total, 844.85 miles). Main Line: Chicago, 111., to St. Paul, Minn 400.26 miles. DeKalb and Great Western Ry.: Sycamore to DcKalb, 111 5.81 Hampton Branch: Sunnier to Hampton, la 63 . 95 Mantorville Branch: Eden to Mantorville, Minn 7 . 57 St. Joseph Division : Oelwein, la., via Des Moines, la., to St. Joseph, Mo 289 . 58 Cedar Falls Branch: Hudson to Cedar Falls, la 7.48 Kansas City Division: Bee Creek to Beverly, Mo 23.00 Hay field-Manly Line: Hayfield, Minn., to Manly Junction, la 47.20 B. TRACKAGE EIGHTS (for details, see Sec. 3) 84 . 66 " Total length of lines operated, June 30, 1902 929.51miles. 2d track, 4.2 m.; sidings, 245 miles. Gauge, 4 ft. 8% in. Rail (steel), 56, 60, and 75 Ibs. On April 30, 1901, an agreement was made with the Mason City and Fort Dodge RR. Co. (see page 577), by which this company will take possession of the Mason City and Fort Dodge lines as fast as constructed and connected with this company's lines, and will hold possession and operate them as a part of the Chicago Great Western System for the term of 100 years; but while operated as one system, the contract provides that both corporations shall be maintained, and that separate accounts shall be kept of the earnings and expenses of each. Out of the net earnings of the Mason City and Fort Dodge RR., in its possession but not otherwise, this company agrees to pay the coupons of the bonds issued by that company, it being agreed that the surplus of net earnings shall belong to this company. All the stock of the Mason City and Fort Dodge RR. Co. is to be assigned to this company in exchange for common stock, share for share. Sub- stantially the same arrangement in regard to operation and stock ownership has been made with the Wisconsin, Minnesota and Pacific Ry. Co. 3. Trackage Rights. — The mileage operated under trackage arrangements on June 30, 1902, was made up of the following lines and parts of lines: Northern Pacific Ry., Min- neapolis to St. Paul, Minn., 10.56 m.; M. & St. L. Ry., 0.13 m.; Dunleith and Du- buque Bridge Co., Dubuque, la., to East Dubuque, 111., 0.59 m. ; Illinois Central RR., East Dubuque to Portage Curve, 111., 13.23 m.; C., B. & N. RR., Portage Curve to Aiken, 111., 1.85 in. ; Chicago Terminal Transfer Ry. ( Chicago Terminals ) , Forest Home to Chicago, 111., 10.18 m. ; Des Moines Union Ry., in Des Moines, la., 2.26 m.; Des Moines and Kansas City, Ry., in Des Moines, la., 0.44 m.; K. C., St. J. & C. B. Ry., in St. Joseph, Mo., 0.81 m.; St. Joseph Terminal Co., in St. Joseph, Mo., 0.39 m.; A., T. & S. F. Ry., St. Joseph to Bee Creek, Mo., 7.63 m.j C., R. I. & P. Ry., Beverly to Stillings, Mo., 3.59 m.; Leavenworth Terminal Ry., and Bridge Co., across the Missouri River at Leavenworth, 1.36 m. ; A., T. & S. F. Ry., Leavenworth to Soldiers' Home, 3.73 m. ; K. C. & N. W. RR., Soldiers' Home to Kansas City, Mo., 27.91 m. — total, 84.66 miles. 4. Rolling Stock, June 30, 1902.— Locomotives, 218. Cars— passenger, 54; subur- ban, 3; combination, 13; baggage, etc., 19; milk, 9; dining, 3; buffet, 2; freight (box, 5,173; stock, 381; flat and coal, 591; caboose, 82; refrigerator, 9; furniture, 439; other, 2), 6,677; other, 491— total, 7,271. 5. General Income Account, year ending June 30, 1902. Earnings —Passenger $1,673,398 59 Freight 6,549,808 18 Mail and Express 208,20280 Miscellaneous 118,27907 Total ( J8.122.22 per mile) $7,549,688 64 Expenses — Maintenance of Way $958,32763 Maintenance of Equipment. 756,038 67 Conducting Transportation. 3,149,564 65 General Expenses ,.. 420,75930 Total ($5,685.46 per mile) $5,284,69025 Net earnings (30.01 p. c.), $2,264,998.39. Payments: Interest on equipment lease warrants, $4,731.74; on company's proportion as joint owner of bonds issued by other companies (St. Paul Union Depot Co., $4,655.84; Minnesota Transfer Ry. Co., $7,160), $11,815.84; on loans for capital improvements $131,451.51; taxes, $204,767.86; internal revenue war tax, $6,567.82; rentals (Chicago terminals, $209,677.35; Des Moines Ter- minals, $13,690.65; Dubuque Bridge, $30,000; leased lines, $137,447.60), $390,815.50 — POOR S MANUAL CHICAGO GREAT WESTERN RY. CO. 575 total, $750,150.27. Surplus, $1,514,848.12; surplus forward, $134,675.88— total, $1,649,- 524. Deductions: Interest on 4 p. c. debenture stock (4 p. c.), $925,202.67; dividends on 5 p. c. preferred stock "A," $568,620— total, $1,493,822.67. Surplus, June 30, 1902, $155,701.33. 6. Statement of operations, etc., for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Average Miles Oper. . . Pass. Train Miles 927.29 1,891,173 1,941,615 1,034,761 39,869,805 1,376,579 928.02 2,004,210 2,006,830 966,663 40,885,158 1,469,215 No S 4,680,860 3,427,588 929.51 1,997,385 2,168,918 1,192,729 46,712,643 1,814,750 record S 5,386,044 3,777,373 929.51 2,059,085 2,390,481 1,164,810 52,888,135 1,721,854 kept. . $ 5,867,740 3,943,516 929.51 2,076,461 2,707,988 1,363,785 61,255,609 2,340,965 706,924,174 $ 6,721,037 4,490,223 929.51 2,191,819 2,663,964 1,493,609 66,052,117 2,651,054 833,799,170 $ 7,013,861 4,831,515 929.51 2,367,481 2,766,115 1,716,083 75,768,267 2,753,675 804,613,173 S 7,549,688 5,284,690 Freight Train Miles. . . Passengers Carried. . . Passenger Mileage. . . . Freight (tons) Moved.. Freight (ton) Miles. .. $ 4,709,821 3,310,243 Operating Expenses.. . 1,399,578 186,491 436,602 (4) 321,908 1,253,272 210,752 434,206 (4) 364,541 1,608,671 243,702 457,130 (t) 396,524 1,924,223 288,650 460,648 (4) 498,002 (4) 454,896 212,873 +9,154 6,312 72 4,242 58 2,070 14 67.21 p. c. 2.00 c. 2,230,814 259,542 476,644 (4) 568,650 (5) 568,620 213,574 +143,784 7,230 73 4,830 74 2,399 99 66.81 p. c. 2.03 c. 0.72 c. 2,182,346 176,676 452,902 (4) 780,610 (5) 568,620 212,646 —9,108 7,545 76 5,197 92 2,347 84 68.88 p. c. 2.01 c. 0.64 c. 2,264,998 131,452 407,363 (4) 925,203 (5) 568,620 211,335 +21,025 8,122 22 5,685 46 2,436 76 69.99 p. c. 2.05 c. 0.69 c. Interest Paid Rental Tracks, etc. . . . Debenture Dividends . Pref. "A" Stock Divs. Taxes 144,000 +310,577 5,079 12 3,569 80 1,509 32 70.28 p. c. 2.14 c. 153,000 +90,773 5,043 92 3,693 44 1,350 48 73.23 p. c. 2.02 c. 173,000 +339,315 5,794 50 4,063 83 1,730 67 70.13 p. c. 2.06 c. Balance (+ or — ). . . . Gross. Earn, per Mile. Gross Exp. per Mile. . . Net Earnings per Mile. Expenses to Earnings, Av.Rate p.Pass.p.Mile Av.Rate p. Ton p. Mile. NOTE. — In addition to the cash dividends on debenture stock set forth In the preceding table, dividends were paid in debenture scrip as follows : $150,422 in 1895 ; $148,582 in 1896 ; $118,411 In 1897, and $88,800 in 1898. (See statement relative to debenture dividends in the MANUAL for 1900, page 556.) 7. General Balance Sheet, Cost of Road, including Terminals..$60,073,673 Cost of Rolling Stock Owned 6,659,281 Capital Stock, W. M. & P. RR. Co. ... 4,060,000 Int. in Kan. Cy. and St. Jo. Elevators. 115,000 Int. in Chicago Union Transfer Ry. . . 56,694 Entire Stock, DeK. & Gt. W. Ry. Co. 111,753 Entire Stock, City Term. Ry. Co., Kan. City 307,419 Bonds and Stocks of Other Companies. 266,755 Cash with London Finance Com 190 Accounts Receivable 181,530 Capital Accounts, June 30, 1902. 87 Debenture Stk. and Scrip Outstand'g.$24,327,089 00 25 Preferred Stock "A" Outstanding 11,330,10000 00 Preferred Stock "B" Outstanding 9,468,09000 00 Common Stock 23,383,39500 44 Sterling Loan of 1902 34,42423 63 Gold Notes of 1903 1,124,242 42 Total Assets $71,832,299 03 Gold Notes of 1904. Temporary 4J p. c. Loan. Advances from Earnings 808,333 30 675,000 00 681,625 08 Total Liabilities $71,832,29903 8. Capital Stock. — The permanent capital of the company is represented by four classes of stock divided into shares of $100 each. The following statement shows the present authorized amount of each class of the stock, the amount thereof outstanding, and the amount still Issuable on June 30, 1902. Authorized. OUTSTANDING. Increase in Year. Still Issu- able June 30, 1902. June 30, 1901. June 30, 1902. 4 p o. Debenture Stock (see Sec. 9) S 30,000,000 15,000,000 10,000,000 30,000,000 S 21,826,589 11,304,500 7,468,090 21,315,545 S 24,327,089 11,330,100 9,468,090 23,383,395 $ 2,500,500 25,600 2,000,000 2,067,850 $ 5,672,911 3,669,900 531,910 6,616,605 5 p. c. Preferred Stock A (see Sec. 10) 4 p. c. Preferred Stock B (see Sec. 11) Common Stock (see Sec. 12) Totals. . 85.000.000 61.914.724 68.508.674 6.593.950 16.491.326 The purposes for which the amounts outstanding on June 30, 1901, were Issued are shown by a statement in the MANUAL, for 1902, on page 525. With the proceeds of $2,500,000 of 4 p. c. de- benture stock, and $25,000 of preferred A stock, Issued during the year ending June 30, 1902, the POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP. company paid $366,475.81 of car trust liabilities, bearing 5 p. c. ; $450,909.07 sterling loans, bear- ing 6 p. c. ; $464,819.45 for rolling stock purchased, and the balance for additional terminals and improvements ; $500 of debenture stock and $600 of preferred A stock were Issued in exchange for the last outstanding $1,000 1st mtge. bond of the Chicago, St. Paul and Kansas City Ry. Co., and $7,850 of common stock was issued in exchange for stock and income bonds of the same company. The $2,000,000 of preferred B stock and $2,060,000 of common stock were issued In exchange for $4,060,000 of stock of the Wisconsin, Minnesota & Pacific RR. Co. Between June 30, 1902, and July 15, 1903, there were issued $3,250,000 of debenture stock and $6,538,000 of common stock, besides small amounts of preferred stock A and B. The de- benture stock was issued for additions, improvements and new equipment ; the common stock for the purchase of the Mason City and Fort Dodge lines and for other purposes. The authorized common stock has been increased from $30,000,000 to $50,000,000. 9. Debenture Stock. — This issue partakes of both the nature of stock and bonds. As a stock it participates in the management by voting at stockholders' meetings in all respects the same as other stocks. Like a bond it bears a fixed rate of interest of 4 p. c. per annum, which is payable in gold on the 15th of Jan. and July. Payments are made to European holders at the office of R. Ben- son & Co., London, Eng., and to American holders by check. (See Sees. 14 and 15.) 10. Preferred Stock " A." — This issue also participates in the management by voting at stockholders' meetings the same as the. other stocks of the company. It ranks next to the debenture stock, and is entitled to a non-cumulative dividend not exceeding 5 p. c. per annum, which under a truet deed must be paid seml-annually whenever earned. (See Sees. 14 and 15.) 11. Preferred Stock " B." — This Is an ordinary preferred stock, entitled to non-cumulative dividends at not exceeding the rate of 4 p. c. per annum, in preference to common stock. It also participates In the management, by voting at stockholders' meetings, the same as the other stocks of the company. 12. Common Stock. — Entitled to such dividends as the net earnings of the company will Justify in each year, after paying or providing for the interest on the 4 p. c. debenture stock, and the dividends on the preferred stock " A " and preferred stock " B." It also participates in the man- agement by voting at stockholders' meetings, the same as the other stocks of the company. 13. Deed of Trust. Debenture Stock and Preferred Stock " A." — The Interest rights of the 4 p. c. debenture stock, and the special dividend rights of the preferred stock " A," are secured by a deed of trust and contract between the company and the Manhattan Trust Co. of New York, as trustee. The trust deed and contract defines the respective rights of each class of stock, and Is a mortgage security for the interest rights of the debenture stock and the dividend rights of the preferred stock " A." Among other things it provides for an annual meeting of the debenture and preferred " A " stockholders collectively, to elect a finance committee, consisting of five of their own members. This committee has an absolute veto power on the action of the directors involving the issue of new securities and the making of expenditures of money, except for operating expenses, and further has authority to appoint an independent auditor to make periodical examinations of the accounts of the company. " If at any time a controversy should arise as to the amount of net earn- ings applicable to the payment of dividends on the 5 p. c. preferred stock ' A," the decision of the committee is final and conclusive." Upon default of the company to pay interest on the 4 p. c. de- benture stock, or to appropriate surplus earnings for payment of dividends on the 5 p. c. preferred stock " A " the committee has power, under an extraordinary resolution of the debenture and pre- ferred " A " stockholders collectively, to appoint a receiver to enter into possession and manage the property, under its direction, on behalf of the debenture and preferred " A " stockholders. 14. Authority Required for Issuing Additional Debenture Stock or Preferred Stock " A." — No additional debenture or preferred stock " A " can be issued until authorized (a) by a vote of two-thirds in amount of all four classes of stock, collectively, at a meeting called for that purpose, and (b) by a vote of a majority in amount of the debenture and preferred " A " stock- holders, attending a separate meeting of those two classes of stock, collectively. 15. Priority as to Principal of Stock. — It Is provided that In case of liquidation, the net assets of the company shall be applicable to the payment In gold of the capital of the different classes of stocks or securities in the same order of priority as the interest or dividends on such stocks or securities are provided to be paid. 16. General Balance Sheet, Revenue Accounts, June 30, 1902. Current Accounts Receivable $2,407,33600 Cash 576,01066 Current Accounts Payable $2,056,86333 Debenture Dividend, July 15, 1902 486,47200 Preferred "A" Dividend, July 31, 1902. 284,310 00 Balance Income Account, June 30, 1902. 155,701 33 Total $2,983,34666 Total $2,983,34666 17. The following is a statement of the rentals payable in 1901 and in 1902, and of the interest paid on indebtedness during those fiscal years, with an approximation of the interest payments to be made during the fiscal year ending June 30, 1903: RENTALS PAYABLE. 1901 1902 Increase. INTEREST PAID ON INDEBTEDNESS. Loans 4 Notes. Car Trusts. Total*. Chicago Terminals Des Moines Terminals Dubuque Bridge $ 203,526 15 14,088 78 30,000 00 137,201 35 $ 209,677 35 13,690 55 30,000 00 137,447 60 $ 6,151 20 del 398 23 Year ending June 30, 1900 . Year ending June 30, 1901 . Year ending June 30, 1902 . Approximate for Year end- ing June 30, 1903 $ 259,541 59 176,675 66 131,451 51 $ 93,569 52 55,788 20 4,731 74 $ 353,111 11 232,463 86 136,183 25 100,000 00 Trackage Rights 246 25 Total* 100,000 00 384,816 28 390,815 50 5,999 22 POOR S MANUAL CHICAGO GREAT WESTERN SYSTEM. 577 18. RAILROADS OWNED AND OPERATED BY THE CHICAGO GREAT WESTERN RY. Co. CITY TERMINAL. RY In Kansas City, Mo., 5 miles. Rail (steel), 60 Ibs. HISTORY. — Chartered May 2, 1899, to acquire terminal property in Kansas City for the Chicago Great Western Ry. Co. and to construct connec- tions with other railroads. FINANCIAL STATEMENT. — Capital stock, $50,000 ; due C. G. W. Ry. Co., $99,231 — total, rep- resenting cost of property, $149,231. The Chicago Great Western Ry. Co. owns the entire capital stock. CORPORATE OFFICERS. — Frank Hagerman, Pres. ; Oscar Hochland, Sec. & Treas., Kansas City, Mo. Office, Kansas City, Mo. DE K A Ml AND GREAT WESTERN RY. — Sycamore to DeKalb, 111., 5.81 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. HISTORY. — Chartered March 11, 1895; road opened Sept. 1, 1895. FINANCIAL STATEMENT. — Capital stock ($100 shares), $100,000; due Chicago, Gt. West. Ry. Co., $11,754 — total, representing cost, $111,764. The stock is all owned by the Chicago Great Western Ry. Co. CORPORATE OFFICERS.— John L. Pratt, Pres., Sycamore, 111. ; E. C. Lott, Vice-Pres., De Kalb, 111. ; R. C. Wight, Sec. & Treas., St. Paul, Minn. Office, Chicago, 111. 19. Board of Directors, Chicago Great Western Ry, Co., elected September 12, 1902. Term expires Sept., 1903. Term expires Sept., 1904. J. W. Lusk St. Paul.Minn. A. B. Stickney.. . St. Paul.Mlnn. S. C. Stickney... " F. Weyerhaeuser.. " R. C. Wight W. A. Read.... New York, N. Y. A. B. STICKNEY, President St. Paul, Minn. Ansel Oppenheim, Vice-President Treasurer — C. O. Kalman St. Paul, Minn. | Secretary — R. C. Wight St. Paul, Minn. PRINCIPAL OFFICE AND ADDRESS St. Paul, Minn. Term expires Sept., 1906. H.E.Fletcher.Minneapolis.Minn. T. H. Wheeler.. . New York.N.Y. Ansel Oppenheim.. St.Paul, Minn. Railroads Controlled by the Chicago Great Western Ry. Co., but Operated as Independent Organizations. MASON CITY AND FORT DODGE RR.— Mason City to Lehigh, la., 88.1 m.; Mason City to Manly June., la., 9.3 m. ; Carbon June, to Coalville, la., 2.4 m. — total, 99.8 m.; total track, 111.27 miles. Gauge, 4 ft. 8y2 in. Rail (steel), 60 and 75 Ibs. History. — Organized May 23, 1881; road opened from Mason City to Lahigh, and branch to Coalville, on Nov. 20, 1886. The extension from Mason City to Manly Junc- tion was put in operation Nov. 1, 1901, and an extension from Hampton to Clarion, about 30 miles, was put in operation after the close of the fiscal year. Both of the extensions bring this road into direct connection with the Chicago Great Western Ry. An agreement has been made for the purchase from the Chicago Great Western Ry. Co. of two of its branches (see page 572) for $1,386,000 in the new 1st mtge. 4 p. c. gold bonds referred to under the head of "Funded Debt." An extension is under con- struction from Fort Dodge, la., to Omaha, Neb., and an extension is projected from Clarion to Sioux City, Ta. This company is controlled by the Chicago, Great Western Ry. Co. through ownership of its stock. Rolling Stock, June 30, 1902. — Locomotives, 5. Cars — passenger, 5; baggage, etc., 2; freight (box, 37; stock, 5; flat, 11; coal, 155), 208; service, 1— total, 216. Operations, year ending June 30, 1902. — Trains run (passenger, 55,416; freight, 67,188), 122,604 miles. Passengers carried, 66,489; carried one mile, 1,502,971. Tons freight moved, 242,118; ton-miles, 8,026,494. Earnings (passenger, $54,036; freight, $200,966; other, $738), $255,740. Operating expenses, $146,931. Net earnings, $108,809. Charges: Interest on bonds, $82,800; other interest, $12,200; taxes, $10,866 — total, $105,866. Surplus, $2,943. Financial Statement, June 30, 1902.— Capital stock ($5,000,000 auth.; $100 shares) paid in, $920,000; funded debt, $1,380,000; current liabilities, $451,239; interest accrued, $82,200 — total, $2,833,439. Contra: Cost of road and equipment, $2,720,705; cash and current assets, $132,876 — total, $2,853,581. Funded Debt. — The funded debt as above consists of an issue of 1st 6s of July 1, 1926. It is the intention of the company to cancel these bonds and to make a new mort- gage securing an issue of 1st mtge. 4 p. c. gold bonds covering all the property of the company. Directors.— James W. Colt, Oneonta, N. Y.; Myron T. Herrick, Cleveland, 0.; A. B. Stickney, St. Paul, Minn.; Arthur S. Fairchild, H. A. Hutchins, New York, N. Y. OFFICERS: A. B. STICKNEY, Pres., St. Paul, Minn.; Arthur S. Fairchild, Vice-Pres.; H. S. Pace, Sec.; Chas. E. Silkworth, Treas., New York, N. Y. GENERAL OFFICE, Fort Dodge, la. WISCONSIN, MINNESOTA AND PACIFIC RR.-Red Wing to Mankato, Minn., 93.7 m. ; branch in Faribault, Minn., 2 m. ; Red Wing to Zumbrota, Minn., 28 m. ; 578 POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP. Winona, Minn., to Osage, la., 122 m. — total, 246.7 m.; total track (steel; 60 and 75 Iba), 245.7 miles. Gauge, 4 ft. 8y2 in. History. — Reorganization April 24, 1894, of the Wisconsin, Minnesota and Pacific Ry. Co., whose property was sold under foreclosure on Nov. 16, 1893 (see MANUAL for 1894, page 936). The line from Morton, Minn., to Watertown, S. D. was sold to the Min- neapolis and St. Louis RR. Co. on Feb. 20, 1899. The Faribault City Branch was opened in Dec., 1899. The Duluth, Red Wing and Southern Ry., from Red Wing to Zumbrota, Minn., 28 miles, was purchased on July 1, 1901, and the Winona and WTestenx Ry., from Winona, Minn., to Osage, la., 122 miles, on Oct. 1, 1901. A line connecting the two roads named, under construction at the close of the fiscal year, was expected to be in operation in the fall of 1902. This company is controlled, and its railroad operated, by the Chicago Great Western Ry. Co., but separate accounts are kept of its operations. Rolling Stock, June 30, 1902. — Locomotives, 10. Cars — passenger, 5; combination, 3; freight (box, 208; flat, 98; coal, 10), 316; caboose, 4— total, 328. Operations, year ending June 30, 1902 (215.2 miles). — Train mileage — passenger, $130,768; freight, 48,944 — total, 179,712 miles. Earnings— passenger, $112,763; freight, $341,706; other, $18,942 — total, $473,411. Operating expenses, $253,552. Net earnings, $219,859. Payments: Taxes, $15,377; interest on bonds, $143,400— total, $158,777. Sur- plus, $61,082; surplus forward, $17,392— total, $78,473. General Balance Sheet, June 30, 1902.— Capital stock, $4,060,000; funded debt (1st 4s of Oct. 1, 1951), $5,000,000; accounts payable, $85,855; accrued interest, not due, $69,600; taxes accrued, $7,099; profit and loss $78,473 — total, $9,301,027. Contra: Cost of road and equipment, $8,105,855; bonds in treasury $1,040,000; cash, $155,172— total, $9,301,027. Capital Stock. — The authorized issue is $5,205,000 in $100 shares. All the out- standing stock is owned by the Chicago Great Western Ry Co. Directors.— F. B. Kellogg, A. B. Stickney, R. C. Wight, C. A. Severance, Kenneth Clark, St. Paul, Minn. OFFICERS: F. B. KELLOGG, Pres.; A. B. Stickney, Vice-Pres.; C. 0. Kalman, Trees.; G. F. Philleo, Sec., St. Paul, Minn. GENERAL OFFICE, St. Paul, Minn. GREAT NORTHERN RAILWAY COMPANY. INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS or SECTIONS. Burlington Joint Bonds !7a Capital Expenditures 4 Capital Stock 16 Directors and Officers 24 Earnings and Expenses 6-12 Earnings, etc., 1896-1902 8, 9 Earnings, Whole System 11 Funded Debt (System) 17 Gen. Balance Sheet 13 History 1 Income Account 6-12 Land Department 20 Leased Line Statements 21 Mileage of System 2-3 Operations and Income 12 Permanent Investments 19 Proprietary Lines 22-23 Rentals 14 Rolling Stock 6 Securities & Investments — 19 Stocks and Bonds Owned. . . 18 1. History. — Chartered Sept. 18, 1889, as successor to the Minneapolis and St. Cloud Ry. Co. (see MANUAL for 1891, page 224). The St. Paul, Minneapolis and Manitoba Ry. is leased for 999 years from Feb. 1, 1890, this company guaranteeing dividends of 6 p. c. per annum, payable in gold on the $20,000,000 capital stock of the lessor, and guaranteeing the payment of both the principal and the interest of the " Manitoba's " bonds. In Oct., 1898, and subsequently, the company acquired about 97 2-3 per cent, of the capital stock of the "Manitoba" Company, by issuing its own stock in exchange therefor at the rate of $125 for $100. The company having purchased the entire capital stock of the Seattle ani Montana RR. Co. began to operate the railroad thereof on Aug. 1, 1898. The Park Rapids and Leech Lake Ry. is operated under a lease effective May 1, 1899, and to run from'year to year until cancelled on sixty days' notice by either party. All the outstanding capital stock and securities of that .road are owned by the Great Northern Ry. Co. The Eastern Ry. of Minnesota is leased for 99 years from May 1, 1902, at a rental of the interest on its bonds and dividends at the rate ot 6 per cent, per annum on its capital stock. The entire capital stock of that road is owned by the Great Northern Ry. Co. NEW LINES ADDED TO SYSTEM (see MANUAL for 1902, page 529). SEATTLE AND NORTHERN RY.— Anacortes to Rockport, Wash., 54.42 miles. Purchased by the Seattle and Montana RR. Co. and taken over for operation by Great (Continued on page 579.) POOR S MANUAL — GREAT NORTHERN RY. CO. 579 2. Mileage of System, June 30,1902.— A. Operated as G. N. Ry. (total, 4,564.98 miles) . St. Paul, Minneapolis and Manitoba Ry. (see statement in Sec. 21 ) 3,799.19 miles. Eastern Ry. of Minnesota (see statement in Sec. 21 ) 469.83 '' Duluth Terminal Ry. : in Duluth, Minn 1.82 " Park Rapids and Leech Lake Ry. : Park Rapids to Cass Lake, Minn .... 49.04 " Dakota and Great Northern Ry. (see statement in Sec. 3) , 40.44 " Seattle and Montana RR. (see statement in Sec. 21) 204.66 " B. PROPRIETARY LINES, OPERATED BY THEIR OWN ORGANIZATIONS, BUT STATISTICS INCLUDED IN REPORT OF GREAT NORTHERN RY. Co. (total, 771.40 miles) : Montana Central Ry. (see statement in Sec. 22) 260.51 " Willmar and Sioux Falls Ry. (see statement in Sec. 22) 433.41 " LEASED TRACK : Sioux City, la., to South Sioux City, Neb 3.32 " Duluth, Watertown and Pacific Ry. : Watertown to Huron, S. D 69.84 " Minneapolis Union Ry.: University Switch to 1st St., Minneapolis 2.63 Minneapolis Western Ry. : In Minneapolis, Minn 1.69 Total length of lines in system as operated, June 30, 1902 5,336.38 miles. O. PROPRIETARY LINES WHOSE STATISTICS ARE NOT INCLUDED IN REPORT OF GREAT NORTHERN RY. Co.: Spokane Falls and Northern Ry.: Spokane, Wash., to Dominion Line 131.83 m. Nelson and Fort Sheppard Ry. : Dominion Line to Nelson, B. C. . . . 54.70 m. Columbia and Red Mount. RR.: Northport, Wash., to Dom. Line. . 7.47 m. Red Mountain Ry.: Dominion Line to Rossland, B. C 9.53 m. — 203.53 miles. Montana and Great Northern Ry. (see statement in Sec. 1) 185.35 " Crow's Nest Southern Ry.: Dominion Line to Morrisey, B. C 48.47 " Washington and Great Northern Ry. (see statement in Sec. 1) 59.5S " Vancouver, Victoria and Eastern Ry. & N. Co. (see statement in Sec. 1)... 16.29 " Total length of Great Northern Railway System, June 30, 1902 5,849.10 miles. The leased track between Sioux City, la., and South Sioux City, Neb., 3.32 miles, operated in connection with the Willmar and Sioux Falls Ry., was owned as follows: 1.57 miles by the Union Terminal Co. of Sioux City; 0.6 mile by the Chicago, Milwaukee and St. Paul Ry. Co., and 1.15 miles by the Combination Bridge Co. The Great Northern Ry. Co. controls the Kootenay Ry. and Nav. Co., but its ac- counts and statistics are not included in this statement, as it is operated as an inde- pendent organization (see MANUAL for 1902, page 529). 3. Statement of track mileage, Great Northern Railway System, June 30, 1902: Main Track. Second Track. Third Track. 4th, 5th &6th Tracks. Side Track. Total Track. Lines Operated as Great Northern Ry Proprietary Lines Miles. 4,564.98 771.40 Miles. 56.10 Miles. 9.28 Miles. 13.05 Miles. 951.33 120.95 Miles. 5,594.74 892.35 Total Operated June 30, 1902. Other Lines 5,336.38 512.72 56.10 9.28 13.05 1,072.28 46.30 6,487.09 559.02 Grand Total. 5,849.10 56.10 9.28 13.05 1,118.58 7,046.11 Gauge, 4 ft. 8y2 in. Rail, 56, 60, 68, 75, 77% and 80 Ibs. Northern Ry. Co., on Feb. 1, 1902. The purchase price, $1,500,000 in cash, was raised by sale of 15,000 shares of Seattle and Montana RR. Co. stock. This stock was purchased by the Great Northern Ry. Co. DAKOTA AND GREAT NORTHERN RY.— Bottineau to Souris, N. D., 12.72 miles, and Lakota to a point beyond Edmore, N. D., 27.72 miles — total, 40.44 miles. The line from Bottineau to Souris was opened for operation on Oct. 7, 1901, and the other line on July 1, 1902. The road is leased to the Great Northern Ry. Co., which advanced the cost of construction, and will own the capital stock when issued. 580 POOR'S MANUAL OP RAILROADS — NORTHWESTERN GROUP. MONTANA AND GREAT NORTHERN RY.-^Jennings to Gateway, Mont., on the International Boundary, 50.98 miles. Opened for operation July 10, 1902. Cost of con- struction was advanced by the Great Northern Ry. Co. The Great Falls and Canada Ry., from Great Falls to Sweet Grass, Mont., 134.37 miles, now a part of the Montana and Great Northern Ry., has been changed from narrow to standard gauge, the change being made in Dec., 1902. The capital stock of this company when issued will be owned by the Great Northern Ry. Co. CROW'S NEST SOUTHERN RY.— Gateway to Morrisey Junction, B. C., 44.26 miles,, and spur from Morrisey Junction to Morrisey, B. C., 4.21 miles. Opened for operation Sept. 15, 1902. Cost of construction advanced by Great Northern Ry. Co. The capital stock, when issued, will be owned by that company. WASHINGTON GREAT NORTHERN RY.— Marcus to Boundary, Wash., 27.66 miles, and International Boundary to Republic, Wash., 31.92 miles — total, 59.58 miles. Opened for operation Aug. 17, 1902. Cost of construction advanced by Great Northern. Ry. Co. The capital stock will be owned by that company. VANCOUVER, VICTORIA AND EASTERN RY. AND NAV. CO.— From Interna- tional Boundary at Rideau, B. C., to boundary line near Carson, B. C., 14.40 miles, and; spur to Grand Forks, B. C., 1.89 miles — total, 16.29 miles. Opened for operation Aug. 17, 1902. Cost of construction advanced by Great Northern Ry. Co. The capital stock, when issued, will be owned by the same company. 4. Capital Expenditures. — Expenditures were made during the year ending June 30, 1902, on the capital accounts of the proprietary companies, for work com- pleted or under construction, as follows: Eastern Ry. Co. of Minnesota, $1,417,587.46; Montana Central Ry. Co., (credit), $19,298.99; Willmar and Sioux Falls Ry. Co., $9,717; Duluth, Watertown and Pacific Ry. Co., $1,603; Seattle and Montana RR. Co., $2,460,552.68; Duluth Terminal Ry. Co., $6,040.73; Park Rapids and Leech Lake Ry. Co., $6,781.12; Minneapolis Union Ry. Co. (credit), $10.45— total, $3,882,972.55 There was appropriated out of the net revenue for the year, $2,000,000 for the "Fund, for Permanent Improvements and Renewals," and there has been charged against that fund $1,820,225.11, the cost of improvements (other than those charged to opera- tion) made during the year to the property leased from the St. Paul, Minneapolis and Manitoba Ry. Co. 5. Rolling Stock (entire system), June 30, 1902.— Locomotives, 608. Cars— passsenger, 214; sleeping, 48; parlor, 5; dining, 16; buffet smokers, 8; tourist, 24; combination, 36; baggage, mail and express, 116; freight (box, 15,915; combination box and stock, 745; transfer freight, 50; furniture, 1,152; hay, 6; refrigerator, 404; stock, 627; flat and coal, 3,544; sand, 600; ore, 1,901), 24,944; service, 1,620 — total, 27,031. 6. General Income Account, G. A7. Ry. (4,156.43 m.), year ending June 30, 1902. Earn Ings — Passenger $5,690,996 13 Freight 21,002,636 68 Mail and Express 1,032,50233 Miscellaneous 670,999 76 Total ( $6,832.10 per mile) $28,397,134 90 Net Traffic Earnings (49.81 p. c.) $14,253,373 16 Interest on Bonds Owned 380,635 00 Dividends on Stocks Owned 1,419,960 32 Rentals 176,48489 Bills Receivable (Land Notes) 2,05934 Rental of Equip, and Car Service. 180,273 19 Profit on Securities Sold 363,177 45 Other Income— Ground Rents, etc — 293,86824 Total $17,069,831 59 Expenses — Maint. of Way and Struc. . . .$3,792,051 97 Maintenance of Equipment. 2,169,783 07 Conducting Transportation. 7,069,911 71 General 1,112,014 99 Total ($3,402.86 per mile) $14,143,76174 Taxes $984,375 37 Rental St. P., M. & M. Ry. and East. Ry. of Minn (net) 3,577,49663 Other Rentals 165,04903 Permanent Imp. and Renewal Fund... 2,000,000 00 Dividends on G. N. Ry. Stock 8,225,920 50 Balance 2,116.990 06 Total $17,069,831 69 7. Interest on Bond* Owned. — Town of Wadena, $240 ; town of Sandness, $120 ; town of Leaf River, $120 ; town of Hutchinson, $315 ; town of Minnesota Falls, $120 ; Duluth Terminal Ry. Co., $5,250; Montana Central Ry. Co., $32,500; Willmar and Sioux Falls Ry. Co., $1,050; Park Rapids and Leech Lake Ry. Co., $12,500 ; Butte, Anaconda and Pacific Ry. Co., $.50,000 :: POOR'S MANUAL GREAT NORTHERN RY. CO. 581 Spokane Falls and Northern Ry. Co., $154,800 ; Nelson and Ft. Sheppard Ry. Co., $77,580 ; Colum- bia and Red Mountain Ry. Co., $17,460; Red Mountain Ry. Co., $13,020; St. P., M. & M. Ry. Co.'s Montana Ext, $15,560 — total, $380,635. 8. Statement of operations, income, etc., of the G. N. Ry. for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles of Road Worked 3,765.70 2,385.804 5.060,764 1,239.978 82.988,362 3,537,824 1,194,222,577 $ 2,151,295 12.170,276 975,882 3.806.13 2,588,310 4.381,741 1,299,324 82.635,145 3,387,633 1,154,693,357 * 2,074,166 11,974,463 945,912 3,854.22 2,759,591 j 4,238,886 I 543,432 1,421,056 130,607.889 3.802,259 1,397,420,265 1 2,785,601 13,774,832 1,079,327 4,028.56 3,003,018 4,369,550 588,020 1,638,160 144,445,991 4,549,104 1,486,843,802 $ 3,068,966 14,657,484 1,331,364 4,076.37 3,159,373 4,679,371 687,189 1,969,965 163,447,054 5,162,757 1,722,683,402 S 3,795,557 16,645,519 1,512,336 4,060.25 3,390,503 4,133,282 656,550 2,171,271 177,757,309 4,537,887 1,660,960,215 $ 3,943,927 15,367,999 1,569,125 4,156.43 3,804,300 5,285,210 604,548 2,942,198 249,051,096 7,744,950 2,294,335,466 S 5,690,996 21,002,637 1,703,502 Freight Train Miles . . . . I Passenger Mileage Freight (tons) Moved Freight (ton) Miles Freight Earnings Other Earnings Gross Earnings 15.297,453 7,898,981 14,994.541 8,173,890 17,639,770 10,566,220 19,057,814 9,396,648 21,953,412 11,648.432 20,881,051 12,108,956 28,397,135 14,143,762 Net Earnings 7,398,472 805,144 6,820,651 1,519,551 7,073,550 2,481,466 9,661,166 12,673,825 10,304,980 4,605,314 8,772,095 4,247,219 14,253,373 2,816,459 Other Receipts Net Income 8,203,616 528,053 4,783,016 600,000 8,340,202 502,206 4,780,729 600,000 9,555,016 586,384 4,796,863 600,000 12,334,991 758,941 4,056,613 81,211 1,800,000 (6f)3,851,034 14,910,294 774,204 3,709,548 13,019,314 745,224 3,687,657 17,069,832 984,375 3,742,546 Lease Rentals Int. on Coll. Trusts Imp. & Renewal Fund. . . . 1,800,000 (7) 6,408,778 2,000,000 8,225,921 (5) 1,250,000 (5) 1,250,000 (6) 1,500,000 (7) 6,897,369 Total Payments 7,161,069 1,042,547 4.062- 31 2,097 61 1,964 70 51.64 p.c. 2.59 c. 1.02c. 7,132,935 1,207,267 3,939 58 2,147 56 1,792 02 54.51 p.c. 2.51 c. 1.04 o. 7,483,247 2,071,769 4,576 74 2,157 69 2,419 05 47. 14 p.c. 2.13c. 0.99 c. 10,547,799 1,787,192 4,730 67 2,332 51 2,398 16 49.31 p.c. 2.13c. 0.98 c. 12,692,530 2,217,764 5,385 53 2,857 55 2,527 98 53.06 p.c. 2.32 c. 0.97 c. 11,330,250 1,689,064 5,142 80 2,982 32 2,160 48 57.99 p.c. 2.22 c. 0.93 c. 14,952,842 2,116,990 6,832 10 3,402 86 3,429 24 49.81 p.c. 2.29 c. 0.92 c. Gross Earnings per Mile Gross Expenses per Mile. . . . Net Earnings per Mile Expenses to Earnings Earn. p. Pass. p. Mile 9. Results from operation of the entire system for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles Operated (aver.) Passenger Train Miles Freight Train Miles 4,374.19 2.971,338 5680711 4,414.76 3,205,238 5442659 4,466.00 3,351,746 5 541 497 4,786.36 3,757,818 5809762 5,075.86 4,010,799 6 092 623 5,202.31 4,284,900 5627697 5,249.37 4,614,850 6861 788 Mixed Train Miles 653468 452901 585687 '610'202 927924 881 061 777794 Total Rev. Train Miles Passengers Carried 9,305,517 1 528 369 9,100,798 1 498 310 9,478,930 1 715664 10,177,782 2 024 293 11,031,346 2 407 31 1 10.793,658 2 717 851 12,254,342 3 493 245 Passenger Mileage. . 99 178 028 97 543 773 149 041 326 169 882 H67 195 585 382 214 392 859 286 320 423 Freight (tons) Moved Freight (ton) Miles Passenger Earnings 7.52U59 1,622,877,423 $ 2648854 7,471,894 1,657,223,725 1 2 527 109 8,089,593 1,937,955,894 $ 3 311 380 10,002,810 2,158,212,794 S 3 750 33° 9,676.771 2.504,792,882 $ 4 659 091 9,925,811 2,481.751,195 S 4909 333 13,237,363 3,190.217,482 1 6 662 173 15 833 090 15 841 331 i u nr>fi (u? 21 623 654 27 409 017 Other Earnings. . . 1 130620 l'067'o20 1 210 117 1 791; A7fi 1 817 703 1 961 066 Gross Earnings 1!) 612 564 19 436060 2<> 577 544 OC ftlT Qfl! 28 910 789 28 350690 36 032 256 Operating Expenses 10 230 708 lo'70l'871 10854 705 12 164 00° 14 877 578 15 843 421 17 789 164 Net Earnings 9381856 8734 189 1 1 799 810 11 fwa 911 12 507 269 18 243 092 Gross Receipts per Mile Operating Exp. per Mile. . . Net Earnings per Mile Expenses to Earnings Av. Rate p. Pass. p. Mile Av. Rate p. Ton p. Mile 4,433 70 2,338 88 2,144 82 52. 16 p.c. 2.671 c. 0.976 c 4,402 52 2,424 11 1,978 41 55.06 p.c. 2.591 c. 0.956 c. 5,055 43 2,430 52 2,624 91 48.08 p.c. 2.222 c. 0.932 c. 5,226 92 2,541 39 2.685 53 48.62 p.c. 2.208 c. 0.916 c. 5,695 74 2,931 04 2,764 70 51.46 p.c. 2.378 c. 0.899 c. 5,449 64 3,045 46 2,404 18 55.88 p.c. 2.290 c. 0.871 c. 6,864 11 3,388 82 3,475 29 49.37 p.c. 2.327 c. 0.859 c. 1O. Dividend* on Stock* Owned — Northern Steamship Co., $150,000 ; Great Northern Ry. Co., $3,060.32 ; St. Paul Union Depot Co., $1,750 ; Minneapolis Union Ry. Co., $25,000 ; Duluth 582 POOR 8 MANUAL OF RAILROADS — NORTHWESTERN GROUP. Terminal Ry. Co., $3,000 ; Park Rapids and Leech Lake Ry. Co., $35,000 ; Eastern Ry. Co. of Minnesota, $800,000 ; Willmar and Sioux Falls Ry. Co., $350,000 ; Red Mountain Ry. Co., $9,530 ; Columbia and Red Mountain Ry. Co., $13,220 ; Butte, Anaconda and Pacific Ry. Co., $29,400 — total, $1,419,960.32. 11. Operations, Great Northern Ry. System proper, year ending June 30, 1902: Great Northern Ry. Eastern Ry. of Minn. (10 months.) Montana Central Ry. Willmar A Sioux Falls Ry. DuL, Wat. A Pacific Ry. Total. Miles of Road Operated (aver.) Passenger Train Mileage 4,156.43 3,804,300 5,285,210 604,548 419.01 281,100 926,249 62,640 264.56 253,832 346,662 21,505 436.73 275,570 303,235 61,711 69.84 48 432 27,300 5.249.37 4,614,850 6,861,788 777,704 Freight Train Mileage Mixed Train Mileage . Total Rev. Train Mileage Passengers Carried 9,694,058 2,942,198 249,051,090 7,744,950 2,294,335,466 $ 5,690,996 13 21,002,636 68 1,032,502 33 670,999 76 1,269,989 255,387 17,992,089 5,560,265 637,242,155 $ 401,906.85 3,743,333 23 45,732 88 47,956 45 621,999 147,430 9,591,154 1,464,890 177,199,607 $ 298,575 95 1,385,413 78 41,652 94 61,408 % 640.51P 222,097 9,529,807 644,693 79,515,216 S 265,516 78 1,197,951 83 48,126 94 8,697 23 27,780 6,332 156,277 54,100 1,925,038 $ 5,177 54 79,681 71 3,903 71 84 38 12,254,342 3,493.245 286,320.423 13,237,363 3,190.217,482 S 6,662,173 25 27,409,017 23 1,171,918 80 789,146 78 Passengers Carried One Mile Tons Revenue Freight Moved Tons Freight Moved One Mile Earnings — Passenger Freight Mail and Express Miscellaneous Totals 28,397,134 90 3,792,051 97 2,169,783 07 7,069,911 71 1,112,014 99 4,238,929 41 278,267 96 277,985 23 912,862 72 176,516 11 1,787.051 63 332,935 95 188,293 26 514,685 59 69,521 04 1,520,292 78 286,297 38 87,426 00 400,210 88 84,101 61 88,847 34 36,032,256 06 12,926 15 4,702.479 41 2,795 20 2,726,282 76 17.754 22 8,915,425 12 2,823 20 1,444,976 95 Expenses — Maint. of Way, etc Maint. of Equipment. . . . Transportation General Expenses. Totals 14,143,761 74 14,253,373 16 2,816,458 43 1,645,632 02 2,593,297 39 695,194 98 1,105,435 84 681,615 79 62,268 41 858,035 87 662,256 91 21,279 68 36,298 77 52.548 57 172 00 17,789,164 24 18,243,091 82 3,595,373 50 Net Traffic Earnings Other Receipts Totals, Net Income 17,069.831 59 984,375 37 3,742,545 66 3,288,492 37 139,209 41 86,906 94 435,00000 960,00000 743,884 20 47,568 67 3,600 00 560,000 00 683,536 59 61,874 09 52,720 57 6.666 43 21.838,465 32 1.239,693 97 3.833,052 60 1,177,300 00 9,535,920 50 Payments — Taxes 182,300 00 350,00000 Dividends 8,225,920 50 Totals *14,952,841 53 2,116,990 06 5.323,240 79 7,440,230 85 6,832 10 3,402 86 3.429 24 49.81 p.c. 2.285 c. 0.915 c. 1,621,116 35 1,667,376 02 d. 1,110,543 33 556,832 69 10,116 50 3,927 43 6.189 07 38.80 p.c. 2.234 c. 0.587 c. 611,168 67 132,715 53 97,690 83 230,406 36 6,754 81 4,178 39 2,576 42 61.86 p.c. 3.113c. 0.782 c. 594,174 09 89,362 50 333,116 69 422.479 19 3,481 08 1,964 22 1,516 86 56.44 p.c. 2.786 c. 1.507 c. 6,666 43 46,054 14 43,42i 50 89,478 64 1,272 16 519 74 752 42 40.85 p.c. 3.313c. 4.139c. *17,785,967 07 4,052,498 25 4,686,929 48 t8,739,427 73 6,864 11 3,388 82 3,475 29 49.37 p.c. 2.327 c. 0.859 c. Surplus for Year Total Surplus Gross Earnings per Mile ,. . . . Operating Expenses per Mile . Net Earnings per Mile Expenses to Earnings Aver. Rate per Pass, per Mile Aver. Rate per Ton per Mile •Including $2,000,000 transferred to Fund for Permanent Improvements, and Renewals. tTotal surplus, as above, $8,739,427.73 ; add surplus of Minneapolis Western Ry. Co., $30,959.25 ; of the Minneapolis Union Ry. Co., $301,039.47 ; and of Park Rapids and Leech Lake Ry. Co., $12,725.56 — total, $9,084,152.01. Deduct deficit of Seattle and Montana RR. Co., $4,849.93. Surplus, as per general balance sheet, $9,079,302.08. 12. Statement showing the revenues for the year ended June 30, 1902, of the Great Northern Ry., and all proprietary companies: Companies. Gross Earnings. Operating Expenses. Taxes. Income from Operation. Miscellaneous Income Received. Total. Gt. Nor. Ry. Svs. Proper Spo. Falls & Nor. Ry. Sys. Minneapolis Union Ry. . Minneapolis West. Ry . . Duluth Terminal Rv Northern Steamship Co* Total for System . . . * 36,032,256 06 1,165,197 04 225,997 75 65,089 80 . 36,232 52 1,333,740 33 S 17,789,164 24 582,29'8 88 53,105 29 35,114 69 22,732 52 1,119,155 80 S 1,239,693 97 30,443 31 1,053 71 1,555 22 S 17,003,397 85 552,454 85 171,838 75 28,419 89 13,500 00 214,584 53 S 2,001,623 50 9,336 62 9,706 63 149 21 $ 19,005,021 36 561,791 47 181,545 3*: 28,569 1C 13,500 OC 225,518 88 10,934 30 38,858,513 50 19,601,571 42 1,272,746 21 17,984,195 87J 2,031,750 26 20,015,946 13 *For year ended December 31, 1901. POOR'S MANUAL GREAT NORTHERN RT. CO. 583 EXPLANATORY NOTE. DIVIDENDS. — Out of the net income of the companies named the following dividends have been declared : Eastern Ry. Co. of Minn., $800,000 ; Willmar and Sioux Falls Ry. Co., $350,000 ; Colum- bia and Red Mountain Ry. Co., $13,220 ; Red Mountain Ry. Co., $9,530 ; Minneapolis Union Ry. Co., $25,000 ; Northern Steamship Co., $150,000 — total, $1,347,750. This amount is not included in the " Miscellaneous Income " of the Great Northern Railway as shown in Sec. 12, but is added to the " Miscellaneous Income " in the General Income Account (Sec. 6). DULUTH TERMINAL RY. Co. — This company is the owner of the railway used by the Great North- ern Ry. to secure entrance into Duluth, and of extensive yards in Duluth. Its stock and bonds are all owned by the Eastern Railway of Minn. Under the franchise of the Duluth Terminal Ry., its earnings derived from trackage are limited to 6 p. c. on its stock and bonds ; the interest and divi- dend paid, amounting to $13,500, are not included in the " Miscellaneous Income " of the Eastern Railway as shown in Sec. 12. 13. Condensed General Balance Sheet, June 30, 1902. (Being a consolidation of the general balance sheets of the St. Paul, Minneapolis and Manitoba Ry. Co., Great Northern Ry. Co., Eastern Ry. Co. of Minnesota, Montana Central Ry. Co., Willmar and Sioux Falls Ry. Co., Duluth, Watertown and Pacific Ry. Co., Seattle and Montana RR. Co., Park Rapids and Leech Lake Ry. Co., Minneapolis Union Ry. Co., Minneapolis Western Ry. Co., and Duluth Terminal Ry. Co. It shows the financial condition of the railway system. The finances of the Spokane Falls and Northern System and of the Northern Steamship Co. are omitted, as they are kept separate and distinct from those of the railway system.) Railway Property. Cost of St. P., M. & M. Ry $122,449,763 03 Cost of Additions and Improve- ments made by G. N. Ry. Co., and paid for from Fund for Perma- nent Improvements and Renew- ; 4,413,546 17 Total Cost, St. P., M. & M. Ry... $126,863,309 20 Cost of Eastern Ry. of Minnesota.. $26,795,472 36 Cost of Montana Central Ry 15,325,70002 Cost of Willmar & Sioux Falls Ry. 9,026,652 61 Cost of Duluth, Water'n & Pac. Ry. 2,211,201 02 Cost of Seattle & Montana RR 15,444,370 40 Cost of Minneapolis Union Ry 3,154,71182 Cost of Minneapolis Western Ry.... 743,49726 Cost of Park Rap. & Leech Lake Ry. 1,021,841 31 Cost of Duluth Terminal Ry 396,006 56 Total Cost "G. N. Ry. Line" $200,982,762 55 Other Properties, Securities d Investments. Cost of Stock of L. Sup. Term. Sf Transf. Co., owned by E. Ry. of Minn $15,70000 Cost of Stock of S. C. & W. Ry. Co. owned by W. & S. F. Ry. Co. 2,500,000 00 Wls. Cen. Ry. Co. Min- neapolis Term! nal Bonds owned by Min- neapolis Union Ry.Co. 247,600 08 Cost of Properties and Securities owned by Great Northern Ry. Co 122,651,873 57 Total * 125,415,073 57 Less Par Value of Se- curities owned by G. N. Ry. Co. and not shown contra 84,946,85455—40,468,21902 Cost of Securities in bands of Trus- tee of N. P.-G. N. Joint C. B. & Q. Bonds as Collateral (1,075,- 772 shares C. B. & Q. Capital Stock — G. N. Ry. Co. ooe-half owner).. 109,078,509 76 Total Capital Assets $350,629,491 33 Current Assets. St. P., M. & M. Land Department. . . . 41,170 41 G. N. Ry. and Propr. Companies.... 10,869,959 41 Value of Material and Fuel on Hand. 2,840,716 38 Capital Stock. Authorized Cap. Stock, G.N.Ry.Ce...$12S,000,000 00 Less Amount held in Treasury as ex- plained in Sec. 16 , 1,147,00000 G. N. Ry. Stock Issued & Outstand. 123,853,000 00 St. P., M. & M. Stock Outstanding. . 453,600 00 Funded Debt in Hands of Public. St. P., M. & M. Ry. Co. Bonds $71,329,454 54 Bonds of Proprietary Companies.... 26,646,00000 Proportion of N. P.-G. N. Joint C. B. & Q. Collateral 4 p. c. Bonds and Scrip 107,577,20000 Car Trust Notes, East. Ry. of Minn. 117,494 96 Bonds Redeemed Through Sinking Funds. St. P..M.& M. 1st M. Land Gt. Bonds. St. P., M. & M. Consol. Mtge. Bonds. Current Liabilities. St. P., M. & M. Land Dept. : Sundry Current Dues Sink. Fd. Applicable to Redemp. of Bonds G.N.Ry. & Prop'y Cos. : Current Dues Deferred Liabilities. Accrued Taxes, not due Bond Interest Accrued, not due Rental of St. P., M. & M. Ry. and Eastern Ry. Accrued, not due, Less Accrued Dividends on Stocks owned by G. N. Ry. Co Contingent Liabilities. Cost of Additions and Improvements made by G. N. Ry. Co. to Property leased from St. P., M. & M. Ry. Co., and paid for from Fund for Permanent Improvements and Renewals $4,413,546 17 Unexpended Balance of Fund for Permanent Improvements and Renewals 1,214,411 09 5,928,400 00 3,401,000 '10 10,087 47 31,082 94 6,165,793 85 642,120 34 53,191 66 279,291 00 Total Amount De- ducted from In- come to provide for future Impr. & Renewals.. 5,627,957 26 Fund for Replacement of Equipment. 446,490 77 Insurance Fund 274,108 50 Surplus Funds of Proprietary Cos. in Hands of G. N. Ry. Co 1,366,963 09 Profit and Loss. St. P., M. & M. Ry. Co... $1,999,799 07 G. N. & Proprietary Cos.. 9,079,302 08—11,079,101 15 Total Assets $364,281,33753 Total Liabilities $364,281,33753 _Bonds outstanding, $97,975,454.54; outstanding capital stock of Great Northern Ry. Co. and Mileage of ~«. uu «« i*.t*uu*uQ, %>t/ i ,ir i tst-xts-x.fx , uui£)iauuiLl£ vitJJliai DlUUA. \Ji VJitSHt INOrlUcrU St. P., M. & M. Ry. Co., $124,306,600 — total capitalization of system, $222,282,054.54. 584 POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP. track In system, including second, third, fourth, fifth and sixth tracks, covered by above capitaliza- tion, $5,926.84. Stocks and bonds per mile of main track, $37,504.31. Mileage of main tracks covered by bonds in hands of public, 4,734.10. Bonded debt outstanding per mile of main track covered thereby, $20,695.69. 14. Rental St. P., M. & M. Hy. Co. and Eastern Ry. of Minn. — Guaranteed interest on bonds, $3,471,414.01 ; guaranteed dividends on stock, $1,200,000 ; maintenance of organization, $6,346.62 — total, for St. P., M. & M. Ry., $4,677,760.63 ; guaranteed interest and dividends on East- ern Ry. Co. of Minn, bonds and stock, $232,500 — total, $4,910,260.63. Deduct amount received as dividends paid or accrued on stocks of the St. P., M. & M. Ry. Co. and Eastern Ry. Co. of Minn, owned by G. N. Ry. Co., $1,332,764. Balance as per income account, $3,577,496.63. 15. Dividends on Great Northern Ry. Stock. — Aug. 1, 1901, li p. c. on $98,716,600; Nov. 1, 1901, 11 p. c. on $123,730,100; Feb. 1, 1902, 11 p. c. on $123,788; May 1, 1902, 1| p. c. on $123,817,900. A statement showing the rates and dates of all dividends paid by the company up to and including that of May, 1898, is in the MANUAL for 1898, page 464. See also MANUAL for 1900, page 563 ; MANUAL for 1901, page 564, and MANUAL for 1902, page 531. 16. Capital Stock. — The authorized share capital of the Great Northern Ry. Co. on June 30, 1902, consisted of 1,250,000 shares of $100 each, a total par value of $125,000,000. Of this amount there was outstanding $123,853,000, while the remainder was held in the treasury of the company — $567,000 of it to be exchanged for $453,600 outstanding stock of the St. Paul, Minneapolis and Manitoba Ry. Co., and $580,000 of it to be issued only to the Great Northern Employees' Investment Co., Ltd. The share capital originally authorized was in amount $40,000,000, to consist of $20,- 000,000 of 6 p. c. non-cumulative preferred stock and $20,000,000 of common stock. The common stock was never issued, and by resolution of the stockholders on Oct. 19, 1898, the right to issue stock of that class was surrendered, it being provided that the capital stock should consist of only one class, with uniform rights and qualities. 17. Funded Debt. — The Great Northern Ry. Co. is responsible under guaranty, both as to principal and Interest, for $97,975,454.54 of bonds outstanding in the hands of the public, as follows : St. P., M. & M. Ry. Co. ($71,329,454.54) : 2d (now 1st) 6s of Oct. 1, 1909 $7,503,000 00 Dak. Ext. 1st 6s of Nov. 1, 1910.... 5,576,000 00 Consol. 6s of July 1, 1933 13,344,000 00 Consol. 4Js of July 1, 1933 20,176,000 00 Mont. Ext. 4s of June 1, 1937. ...... 10,185,000 00 Pac. Ext. 4s of July 1, 1940 14,545,454 54 Eastern Ry. Co. of Minn. ($9,700,000) : 1st Div. 5s of April 1, 1908 4,700,000 00 No. Div. 4s of April 1, 1948 5,000,000 00 Mont. Central Ry. Co. ($10,000,000) : 1st 6s of July 1, 1937 $6,000,000 00 1st 5s of July 1, 1937 4,000,000 00 Minn. Union Ry. Co. ($2,800,000) : 1st 6s of July 1, 1922 2,150,000 00 1st 5s of July 1, 1922 650,000 00 Minneapolis Western Ry. Co. : 1st 5s of July 1, 1911 500,000 00 Willmar & Sioux Falls Ry. Co. : 1st 5s of June 1, 1938 3,646,000 00 BONDS OF THE ST. PAUL, MINNEAPOLIS AND MANITOBA RY. Co., GUARANTEED BY THE GREAT NORTH- ERN RY. Co. Second (now 1st) Mortgage Gold Bonds. — Secured on the following lines: St. Paul to St. Vincent, Minn., 390.08 m. ; St. Cloud to Sauk Rapids, Minn., 2.13 m. ; Minneapolis Junction to Breckenridge, Minn., 205.18 m. ; Crookston to Red River, Minn., 23.54 m. ; State Fair Ground Spur, St. Paul, 0.64 m. ; a total of 621.57 m. of main track, together with 27.88 m. of 2d track, 18.58 m. of 3d and 4th track, 2.32 m. of 5th track, and 0.72 m. of 6th track. Also secured on the terminals at St. Paul and at Minneapolis. Principal and interest are guaranteed by the .Great Northern Ry. Co. Dakota Extension 1st Mortgage Gold Bonds. — Secured on all lines owned by the company in North Dakota and South Dakota, including the initial 0.61 mile of the line from Breckenridge, Minn., to Portland, N. D., and the initial 22.79 miles of the line from Barnesville, Minn., to Neche, N. D. ; and also secured on the branch from Morris to Browns Valley, Minn. Total length of lines covered by the mortgage, 1,283.94 miles. The authorized issue is $6,000,000, at the rate of $12,000 per mile of single track. Principal and interest are guaranteed by the Great Northern Ry. Co. Consolidated Mortgage Gold Bonds. — Secured by first mortgage on the land grant (see Sec. 20) and on 655.66 m. of railroad in Minnesota not covered by the first (2d) and Dakota Extension mtges., and secured by second mortgage on the lines covered by those mortgages. The authorized issue is $50,000,000, of which a sufficient amount is reserved for the retirement of prior liens. The mortgage provides that the net proceeds of the sale of granted lands, and all money accruing to the company from any disposition made of the lands, together with the proceeds of sale of any other lands, machinery, equipment, and other property not needed by the company or unfit for use, shall be pledged to the payment of interest on the consol. mtge. bonds and to the purchase of those bonds at the lowest price for which they can be obtained ; but there is no provision for the compulsory retirement of the bonds before maturity. Principal and interest are guaranteed by the Great Northern Ry. Co. Montana Extension Gold Bonds. — These bonds were issued on the line from the Dakota Bound- ary to Great Falls, Mont. By the terms of the mortgage, however, these bonds are a lien upon all of the St. P., M. & M. Ry. in the State of Montana. Therefore, to secure the holders of the Pacific Extension bonds (see next paragraph), $11,502,000 of Montana Extension bonds were issued and deposited with the trustees of the Pacific Extension bonds. The authorized issue is $25,000,000. Principal and interest are guaranteed by the Great Northern Ry. Co. Pacific Extension Sterling Bonds. — £6,000,000 sterling of these bonds were authorized to cover the line from Pacific June., Mont., to a connection with the Seattle and Montana Ry. Line at Everett, Wash. ; of these £3,000,000 sterling were sold and are now outstanding. The remaining £3,000,000 sterling are owned by the Great Northern Ry. Co. and are carried among its treasury assets. They are additionally secured by deposit with the trustee of the Pacific Extension mortgage of $11,502,000 Montana Extension bonds. Principal and interest guaranteed by the Great Northern Ry. Co. Under date of March 18, 1901, it was announced that the St. Paul, Minneapolis and Manitoba Ry. Co. had agreed to issue its bonds to the amount of $5,000,000 for the purpose of acquiring title, to that extent, to the additions and improvements made to its property since the date of the lease thereof to the Great Northern Ry. Co. (See General Balance Sheet — Cost of St. P., M. & M. Ry.) These bonds have been acquired during the past fiscal year by the O. N. Ry. Co. and same are now held in the company's treasury. Railroad Map of North Dakota, South Dakota and Minnesota. American Bank Note Company 78 TO 86 TRINITY PLACE NEW YORK [CABLE ADDRESS, •'BANKNOTE NEWYORK' BUSINESS FOUNDED 1793 AUGUSTUS D. SHEPARD, CHAIRMAN OF THE BOARD THEO. H. FREELAND, PRESIDENT WARREN L. GREEN, VICE-PRESIDENT JARED K. MYERS, 2ND VICE-PRESIDENT JOHN E. CURRIER, SEC'Y & TREAS. F. RAWDON MYERS, ASS'T TREAS. DANIEL E. WOODHULL, ASS'T SEC'Y. ENGRAVERS AND PRINTERS OF BONDS AND STOCK CERTIFICATES And all other documents requiring security; Bank Notes, Postage and Revenue Stamps for the United States and Foreign Governments, Drafts, Checks, Bills of Exchange, Letter Heads, etc. ENGRAVING AND PRINTING Executed in the finest and most artistic style from steel plates, with special safeguards to prevent counterfeiting. Special papers manufac- tured exclusively for the use of this Company. SAFETY COLORS SAFETY PAPERS Work Done in Fire-Proof Buildings. RAILWAY PRINTING OF ALL DESCRIPTIONS Railway Tickets, Maps, Folders and Illuminated Show Cards of the Most Approved Styles, Numbered, Local and Coupon Tickets of any Size, Pattern, Style or Device, with Steel Plate Tints. LITHOGRAPHIC AND TYPE PRINTING OF ALL KINDS COMMUNICATIONS MAY BE ADDRESSED TO THE COMPANY IN ANY LANGUAGE Poor's Manual-Railroad Map of the United States, 1903. NORTH DAKOTA, SOUTH DAKOTA AND MINNESOTA. Railroad Map of North Dakota, South Dakota£and Minnesota, H. W. POOR & CO., BANKERS, NEW YORK. BOSTON. Orders Executed -for all Securities Dealt in at the New York Stock Exchange. RAILWAY INVESTMENT A SPECIALTY. We are in correspondence with nearly every Railroad Company in the Country through our connection with "FOOR'S MANUAL OF RAILROADS, which gives us special advantages for in- formation for the benefit of our customers. Correspondence Invited. Interest allowed on Deposits, subject to Check at sight, 33 WALL ST., 52 DEVONSHIRE ST., NEW YORK. BOSTON. POOR S MANUAL GREAT NORTHERN RY. CO. 585 BONDS OF PROPRIETARY RAILWAY COMPANIES, GUARANTEED BY THE GREAT NORTHERN RY. Co. Eastern Ry. Co. of Minn. 1st Division Gold Bonds. — Secured on the so-called first division of the Eastern Ry. of Minnesota, from Hinckley to Dulutb, Minn., 72.39 miles, and on docks, elevators, and terminal properties in Duluth and West Superior. Authorized issue, $5,000,000. Principal and Interest are guaranteed by the St. P., M. & M. Ry. Co. Eastern Ry. Co. of Minn. Northern Division Gold Bonds. — Secured by first mortgage on the line from Cloquet to Fosston, Minn., 184.85 miles, and on the line from Nemadji Junction to Cloquet, Minn., 27.53 miles, and by second mortgage on the property covered by the 1st Division mortgage. The authorized amount is $15,000,000 ; bonds for $5,000,000 are reserved for the retirement of the 1st Division bonds, and the remaining $5,000,000 for the following purposes : (1) For the construction or acquisition of branches at actual cost, but not exceeding $20,000 per mile ; (2) for the construction or acquisition of terminals and other additions and improvements, but not more than $200,000 to be issued in any one year for this purpose; and (3) for the acquisition of bonds or stock in any terminal or transfer railway company, at or near the head of Lake Superior, as more particularly specified in the mortgage. The bonds may be redeemed as a whole or in part, at 105 p.c. and accrued interest, on any Interest day after April 1, 1928, on three months' notice. Principal and interest are guaranteed. Jointly and severally, by the St. P., M. & M. Ry. Co. and the Great Northern Ry. Co. Montana Central Ry. Co. 1st Mortgage Gold Bonds. — Both series are secured by the same mort- gage, covering the entire property of the Montana Central Ry. Co. (see statement therefor, in Sec. 22). The amount authorized is $10,000,000. Principal and interest are guaranteed by the Great Northern Ry. Co. Minneapolis Union Ry. Co. 1st Mortgage Gold Bonds. — Both classes of bonds are secured by the same mortgage dated March 1, 1882, and covering the property of the Minneapolis Union Ry. Co. (see statement therefor in Sec. 22). The amount authorized is $3,000,000. Principal and interest are guaranteed by the Great Northern Ry. Co. Minneapolis Western Ry. Co. 1st Mortgage Gold Bonds. — Secured on the property of the Minne- apolis Western Ry. Co. (see statement therefor in Sec. 22). Authorized issue, $500,000. Principal and interest are guaranteed by the Great Northern Ry. Co. Willmar and Sioux Falls Ry. Co. 1st Mortgage Gold Bonds. — Secured on the property of the Willmar and Sioux Falls Ry. Co. (see statement therefor in Sec. 22). Authorized issue, $3,646,080. Principal and interest are guaranteed by the Great Northern Ry. Co. 17n. Burlington Joint Bonds. — This company and the Northern Pacific Ry. Co. are lointly liable for $215,154,400 of 4 p. c. collateral trust bonds and scrip, secured by deposit of $107,577,200 of the capital stock of the Chicago, Burlington and Quincy RR. Co. Further bonds of the same Issue, up to a total of $222,400,000, may be issued for acquiring the residue of the stock of the Chicago, Burlington and Quincy RR. Co. The bonds are dated July 1, 1901, and mature July 1, 1921, but they may be redeemed on any Jan. 1 or July 1 after Jan. 1, 1906, at 105 p. c. and accrued Interest. This company's proportion of the bonds Is shown as a liability in the general balanse sheet, but the interest on them does not appear as a charge in the income account as It Is paid by the Chicago, Burlington and Quincy Ry. Co. 18. Statement of Stoc Railway Stocks. ks and Be Par. 15,000,000 5,000.000 1,500,000 730,000 500,000 43,750 7,000 15,700 nds Oicned Valuation. $5,000,000 00 5,000,000 00 1.500,000 00 730,000 00 500,000 00 43,750 00 7,000 00 15,700 00 by the Great Northern Railway Bonds. Dul., Watertown A Pac. Ry . . . Ry. Co.,Ju Par. $1.375.000 109,000 ne 30, 1902. Valuation. $1.375.000 00 109,00000 Montana Central Ry. Co Will. A Sioux Falls Ry. Co. .... Dul., Watert'n A Pac. Ry. Co... . Other Railway Bonds Own* Minnesota Transfer Ry *$1,484,000 !d. $13,000 1,000,000 £3,000,000 $21,000 500,000 500,000 5,000,000 $3,000 2,000 2,000 $1,484,000 00 413,000 00 900,00000 15.000,000 00 21,000 00 500,000 00 500,000 00 5,000,000 00 St. Paul Union Depot Co Minnesota Transfer Ry. Co L. Sup., Ter. ATr. Ry. Co 4 Other Railway Stocks Owned Minneapolis West. Ry. Co Great Northern Ry Co Butte, Anaconda A Pac. Ry . . St. P.M., A M.Ry., Pac. Ext.. W. AS. F. Ry., IstMtge. .. $12,7%, 450 $250,000 60,200 13,999,550 19,546.400 11,000,000 5,500,000 490,000 500,000 $12,796,450 00 $250,000 00 48,646 24 11,499,640 00 24,433,000 00 11,000,000 00 5,500,000 00 490,000 00 500,000 00 Park Rapids A L. L., 1st Mtge.. Dul., Sup. A West. 1st Mtge . . . St. P., M. A M, Ry. Imp. Bondi Other Bonds. Town of Hutchinson Seattle A Montana RR St. Paul, Minn., A Man. Co $21,934,000 00 $3,000 00 2,000 00 2,000 00 Will. A Sioux Falls Ry. Co Butte Anac A P Ry Co . ... Park Rap. A Leech L. Ry. Co. . . Total Other Ry. Stocki Other Stocks. Northern Steamship Co Climax Coal Co Town of Minnesota Fall* $51.346,150 *$1.500,000 * 149,000 *5,800 65,000 200,000 $53,721,286 24 $1,500,000 00 149,000 00 5,800 00 65.000 00 200,000 00 *$7,000 $3,000 2,000 1,000 939,000 $7,00000 $2,700 00 1,800 00 90000 939,00000 Fort Benton Bridge Co John O'Brien Lumber Co Dul and Sup Bridge Co Town of Leaf River Total $1,919,800 $4,761.600 1 4.381.000 t" $1,919,800 00 $6,730,725 57 Totals Spokane Falls A No. System: Stock $945,000 nds. . . . $944,400 00 Grand Total Stocks and Bo Bonds. . . $99.537.261 81 • These were acquired from the St. Paul, Minn. & Man. Ry. Co., as subscription toward the capi- tal stock of this company, the same being for the benefit of the St. P., M. & M. stockholders. 19. Other Properties, Securities, and Investments. — The following are the " securi- ties owned by the Great Northern Ry. Co. and not shown contra," the par value of which is deducted on the general balance sheet from the assets item " Other Properties, Securities and Investments " : Entire capital stock. Eastern Ry. Co. of Minn.. $16,000,000 ; entire capital stock, Montana Central Ry. Co., $5,000,000 ; entire capital stock, Willmar and Sioux Falls Ry. Co., $7,000,000 ; entire capital stock, Seattle and Montana RR. Co., $14,000,000 ; entire capital stock, Park Rapids and Leech Lake Ry. Co., $500,000 ; entire capital stock, Minneapolis Union Ry. Co., $500,000 ; entire 586 POOR 8 MANUAL OF RAILROADS — NORTHWESTERN GROUP. capital stock, Minneapolis Western Ry. Co.. $250.000 ; entire capital stock, Dulutb, Watertown and Pacific Ry. Co., $730,000 ; entire issue of bonds, Duluth, Watertown and Pacific Ry. Co., $1,375,- 000; entire issue of bonds, Park Rapids and Leech Lake Ry. Co., $500,000; $195,464 shares of capital stock, St. Paul, Minneapolis and Manitoba Ry. Co.. $19,546,400 ; £3,000,000 Pacific Exten- sion mtge. bonds, St. Paul, Minneapolis and Manitoba Ry. Co., $14,545,454.55 ; entire issue, St. Paul, Minneapolis and Manitoba Ry. Co.'s Improvement Bonds, $5,000,000 — total, $84,946,854.55. 2O. Land Department. — Report of the Minneapolis and St. Cloud Land Grant for year end- ing June 30, 1902 : Total grant, 425,664 acres ; total acreage deeded to company, 425,660.90 acres. Total acreage sold to June 30, 1902, including adjustments on account of previous years, 402,609.78 acres ; value of same, $1,290,560.20 ; average price per acre, $3.21. Remaining unsold, June 30, 1902, 23,054.22 acres. During the past fiscal year, 281,228.19 acres were sold for $495,686.32, being an average of $1.76 per acre. Receipts of Land Department during the fiscal year amounted to $545,751.71. Disbursements during the same period were $6,124.77. Amount of deferred pay- ments due the company, and bearing 6 and 7 p. c. interest, $459,071.09. The report of operation of the St. P., M. & M. Ry. Land Department will be found in the statement for that road appended hereto. 21. RAILROADS LEASED AND OPERATED BY THE GREAT NORTHERN RY. Co. EASTERN RY. OP MINN Coon Creek June., Minn., to West Superior, Wis., 134.11 m. ; in Duluth, Minn., 0.38 m. ; Cass Lake to Foss- ton, Minn., 69.77 m. ; Saunders to Pokegama June., Wis., 2.12 m. ; Nemadji June., Wis., to Cass Lake, Minn., 152.61 m. ; Swan River to Vir- ginia, Minn., 51.46 m. ; Stony Brook June, to Ellis, Minn., 46.49 m. ; Clark Mine Spur, 0.61 m. ; Stevenson Mine Spur, 3.31 m. ; Sandstone to Kettle River, Minn., 2.61 m. ; Swan River to Mississippi River, Minn., 6.24 m. ; Barclay June, to Dewey Lake, Minn., 10.12 m. — total, 469.83 m. ; 2d track, 25.49 m. ; total track (steel), 666.72 miles. HISTORY. — Organized Aug. 13, 1887, under the charter of the Minneapolis and St. Cloud RR. Co. ; road from Hinckley to West Superior opened Sept. 23, 1888. (See MANUAL for 1902, page 536.) The Swan River Logging Ry. was purchased on Jan. 6, 1902. On May 1, 1902, the properties of this company were leased for 99 years to the Great Northern Ry. Co., at a rental of the inter- est on the bonded debt and dividends at the rate of 6 p. c. per annum on the capital stock. The entire capital stock is owned by the lessee. The company owns valuable docks, elevators, ware- houses, etc., in West Superior and Duluth, and owns the stock and the bonds of the Duluth Ter- minal Ry. Co. and of the Park Rapids and Leech Lake Ry. Co. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $16,000,000; funded debt (see Sec. 17), $9,700,000; equipment trust notes, cover- ing 600 cars, $117,495 ; G. N. Ry. advances for construction, $326,555 ; interest accrued, not due, $108,750 ; dividends accrued, not due, $160,000 ; taxes accrued, not due, $50,185 ; current accounts, $597,911 ; renewal fund, $240,683 ; profit and loss, $556,833 — total, $27,858,612. Contra : Cost of road and equipment, $24,895,784 ; securities owned, $240,700; elevators, $1,899,689; materials, etc., $1,165 ; bills receivable, $503,641 ; current accounts and balances, $317,433— total, $27,858,612. CORPORATE OFFICERS. — Louis W. Hill, Pres., St. Paul, Minn. ; D. M. Philbin, Vice- Pres., West Superior, Wis. ; E. Sawyer, Sec. & Treas. ; J. G. Drew, Comptroller, St. Paul, Minn. Office, St. Paul, Minn. Diilnth Terminal Ry. — In Duluth, Minn., 1.82 m. ; total track (steel; 75 Ibs.), 5.48 miles. Organized Aug. 11, 1887. The company supplies tracks for terminal facilities to other roads. Income, year ending June 30, 1902, $36,233. Ex- penses and taxes, $17,072. Net earnings, $19,161. Paid interest on bonds, $10,500 ; other interest and exchange, $5,661; dividends (6 p. c.), $3,000 — total, $19,161. Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $50,000; funded debt (1st 6s of 1909), $175,000; interest accrued not due, $1,750 ; fund for renewals, $42,874 ; advances account construction for which bonds may be issued, $171,007 — total, $440,631. Contra: Cost of property, $396,007 ; current assets, $44,624 — total, ; $440,631. The stock and bonds are owned by the j Eastern Ry. Co. of Minn. Louis W. Hill, Pres. ; R. I. Farrington, Vice-Pres. ; E. Sawyer, Treas. & Sec., St. Paul, Minn. Office, St. Paul, Minn. PARK RAPIDS AND LEECH LAKE RY. — Park Rapids to Cass Lake, Minn., 49.04 m • total track (steel, 49.04 m.), 56.19 miles HISTORY. — Chartered Oct. 5, 1897; road opened May 1, 1899. Leased to the Great North- ern Ry. Co., from date of opening, the lease to run from year to year until cancelled on 60 days' notice by either party ; rental, $61,000 a year INCOME ACCOUNT.— Receipts, year ending June 30, 1902, $61,867. Payments: Interest on bonds, $25,000; dividends (7 p. c.), $35,000- in- terest and exchange, $867 — total, $60,867. Surplus. $1,000. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), 5500,000; funded debt (1st 5s of May 1, 1928), $500,000; interest accrued, not due, $4,167; current liabilities, $1,956; advances for construction, $17,447 ; profit and loss $8 559 total, $1,032,129. Contra : Cost of road and equip- ment, $1,021,841 ; current assets, $10,287 — total, $1,- 032,128. The capital stock and the 1st mtge. bonds are all owned by the Great Northern Ry. Co. CORPORATE OFFICERS. — Louis W. Hill, Pres. ; M. D. Grover, 1st Vice-Pres. ; E. Sawyer, Sec. & Treas. ; J. G. Drew, Compt, St. Paul Minn. Office, St. Paul, Minn. ST. PAUL, MINNEAPOLIS AND MANI- TOBA RY — The length of lines owned on June 30, 1902, was 3,799.19 miles, as follows: Miles. St. Paul to St. Vincent via Barnesv., Minn. 390.07 State Fair Ground Spur, Minn 0.64 Elk River to Milaca. Minn 31.80 Osseo Jc. to St. Cloud, Minn., inc. No. "Y" 63.33 Willmar June, to Hinckley, Minn 122.08 East St. Cloud to Sauk Rapids, Minn 2.13 North St. Cloud Branch, Minn 2.53 Sauk Centre to Park Rapids, Minn 90.96 Evansville to Yarmouth, Minn 32.03 Fergus Falls to Pelican Rapids, Minn 21.65 Shirley to St. Hilaire, Minn 21.55 Red Lake Falls to Thief Riv. Falls, Minn. 17.72 Minn. Jc. to Larimore, N. D., via Portland. 340.24 Spring Park June, to Hutchinson. Minn... 43.91 Hutchinson June, to Hopkins, Minn 3.44 Benson, Minn., to Watertown, So. Dak 91.62 Morris to Brown's Valley, Minn 46.68 Yarmouth, Minn., to Ellendale, N. D 104.32 Rutland June., N. D., to Aberdeen, So. Dak. 64.00 Wahpeton, N. D., to Moorhead, Minn 42.91 Moorhead June, to Carman, Minn 66.59 Addison West Line, N. D 11.78 Casselton Jc. via Maryv. to Portl'd JC..N.D. 47 03 Ripon to Aneta, N. D 67.87 Barnesville Jc., Minn., to Gd.Forks Jc.,N.D. 98.14 Alton, N. D., to Halstad, Minn 8.50 Grand Forks, N. D., to Boundary Line.... 80.94 Graf ton to Walhalla, N. D 47.84 Carman to Fosston, Minn 46.0$ Crookston Jc., Minn., to So. Side Sun Riv., Mont 786.21 Park River to Hannah, N. D 94.94 Rugby June, to Bottineau, N. D 38.66 Churches Ferry to St. Johns, N. D 55.21 Johnstown Jc.,Mont., to Jc.Sand Coulee Br. 3.10 West Side Branch from Great Falls, Mont. 5.04 Pacific June., Mont, to Everett, Wash 817.86 POOR'S MANUAL — GREAT NORTHERN RY. CO. 58? Total length of lines, 3,799.39 m. ; 2d track, 30.61 m. ; 3d track, 9.28 m. ; other main tracks, 13.05 m. ; sidings, 719.99 m. ; total track (steel, 3,765.92 m.), 4,572.12 miles. HISTORY. — Organized May 23, 1879, and pur- chased at foreclosure sale the several lines of the St. Paul and Pacific RR. (1st Div.) Co., and their northern extensions (see MANUAL for 1898, page 466). The property is leased to the Great North- ern Ry. Co., for 999 years, from Feb. 1, 1890, the lessee assuming this company's funded debt and guaranteeing dividends of 6 p. c. gold per annum on the capital stock. The Great Northern Ry. Co. having acquired substantially all of the cap- ital stock of this company, the general balance fcheet, Sec. 12, includes the property, assets, capi- tal and liabilities of this company, and presents a complete statement of the property, capitaliza- tion and finances of what is known as the Great Northern Railway Line. But all items have been so entered as to readily permit comparison to be made with the balance sheets published in the reports of former years. The funded debt of the company is described in Sec. 17. LAND GRANT. — The company's land grant (10 sections per mile) aggregated 3,848,000 acres, of which 3,479,611.36 acres have been certified. Total acreage deeded to the company prior to June 30, 1902, 3,220,760.30, less decreed to the Northern Pa- cific by U. S. Supreme Court, March 2, 1891, 365,860.92 acres ; decreed to Northern Pacific in accordance with terms of settlement of Nov. 1, 18U7, 48,916.08 acres ; redeemed to U. S., 3,330.02 acres ; leaving net acreage deeded, 2,802,653.23. Total sales to June 30, 1902, 2,967,261.17 acres ; contracts cancelled, 303,738.92 acres ; net sales, 2,663,522.25 acres. Lands unsold June 30, 1902, 816,089.11 acres. This will be reduced by about 600.000 acres, on final adjustment with the Gov- ernment, owing to sales and other disposals of land within the limits of the grant prior to the time at which the company's right attached. Sales, year ending June 30, 1902, 124,179.99 acres for $1,129,277.71, an average of $9.09 per acre. There were also sold 819 town lots for $15,003.20, an average of $18.32 per lot. Cash receipts for year, including interest, etc., $1,244,079.09. Ex- penses, $65,686.36. Net receipts, $1,178,392.74. De- ferred payments due company bearing interest at 7 and 6 p. c., $3,277,487.25. Under an act of Congress, approved Aug. 5, 1892, the company has reconveyed to the United States a total of 63,- 477.92 acres of lands lying within the limits of the grant on the Dakota side of the Red River, but which had been disposed of by the General Land Office to settlers and others. In lieu of such lands the company is authorized to locate an equivalent area elsewhere. UD to June 30, 1902, 55,242.20 acres had been selected in lieu of the lands surrendered, and the rest was in pro- cess of adjustment with the Government. There were sold during the year from the Dakota grant 172.95 acres, for $3,507.05, an average of $20.27 per acre. Receipts during year, $28,892.65. Expenses, $3,133,49. CORPORATE OFFICERS. — Louts W. Hill, Pres., St. Paul, Minn. ; Lord Strathcona and Mount Royal, Vice-Pres., Glencoe, Scotland ; R. I. Farrington, 2d Vice-Pres. ; E. Sawyer, Sec. & Asst. Treas., St. Paul, Minn. ; E. T. Nichols, Treas. & Asst. Sec., New York, N. Y. Offices, St. Paul, Minn., and 32 Nassau St., New York, N. Y. SEATTLE AND MONTANA RR Seattle, Wash., to New Westminster, B. C., 146.42 m. ; Anacortes to Rockport, Wash., 54.42 m. ; Sedro Branch, 3.82 m. — total (steel), 204.66 m. ; total track, 251.18 miles. The line is operated by the Great Northern Ry. Co. HISTORY.— Chartered March 28, 1898; road opened on Nov. 27, 1891 (see MANUAL for 1902, page 526). The line of the Seattle and Northern Ry. Co., Anacortes to Rockport, Wash., 54.42 miles, was acquired Feb. 1, 1902, at a cost of $1,500,000. For this purpose, the capital stock of this company was increased from $12,500,000 to $14,000,000. The entire capital stock is owned by the Great Northern Ry. Co. This company owns one-half of the capital stock and a majority of the certificates of indebtedness of the Portland and Puget Sound RR. Co., a company organized to build a line from Seattle, Wash., to Portland, Ore. CORPORATE OFFICERS. — Louis W. Hill, Pres. ; Thomas Burke, Vice-Pres. ; E. Sawyer, Sec. & Treas., St. Paul, Minn. Office, St Paul, Minn. 22. PROPRIETARY RAILROADS WHOSE STATISTICS ARE INCLUDED IN THE REPORT OF THE GREAT NORTHERN RY. Co. DULUTH, WATERTOWN AND PACIFIC RY. — Watertown to Huron, S. D., 69.84 m. ; to- tal track (steel, 69.84 m.), 73.92 miles. Rail, 66 Ibs. HISTORY. — Organized Sept. 30, 1885; road opened Sept. 11, 1888. The Great Northern Ry. Co. owns all the stock and bonds of this com- pany. The results from operation for the year ending June 30, 1902, are shown in Sec. 9 of the Great Northern statement. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $730,000; funded debt (1st gold 6s of June 1, 1938), $1,375,000; current lia- bilities, $1,082,347 ; accrued interest, $6,875 — total, $3,194,222. Contra : Cost of road, $2,211,201 ; profit and loss, $983,021 — total, $3,194,222. CORPORATE OFFICERS. — Louis W. Hill, Pres. ; R. I. Farrington, Vice-Free. ; E. Sawyer, Sec. & Treas., St. Paul, Minn. Office, St. Paul, Minn. MINNEAPOLIS UNION RY University Switch, East Minneapolis, to First Street, Minne- apolis, Minn, (double track), -.63 m. ; total track (steel; 75 Ibs.), 10 miles. HISTORY. — Organized Nov. 28, 1881; opened bridge over the Mississippi River, Sept. 1, 1884. The business of the company is to supply depot and terminal facilities to other companies. The property is now used by the Great Northern Ry., the Northern Pacific Ry. Co., the C., St. P., M. * O. Ry., the C., B. & Q. RR., and the Wisconsin Central Lines. INCOME ACCOUNT, year ending June 30, 1902. — Rentals, $219,785 ; other receipts, $15,919 — total, $235,704. Payments : Expenses and taxes, $54,159 ; interest on bonds, $161,500; dividends (5 p. c.), $25,000 — total, $240,659. Deficit, $4,954. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($1,000,000 auth. ; $100 shares), $500,- 000; funded debt (see Sec. 17), $2,800,000; current liabilities, $82,812 ; profit and loss, $301,039 — total, $3,683,851. Contra: Cost of road, $3,154,712; se- curities of other companies, $247,500 ; other as- sets, $281,639— total, $3,683,851. CORPORATE OFFICERS. — Louis W. Hill, Pres. : R. I. Farrington, Vice-Pres. ; Edward Sawyer, Sec. & Treas. ; J. G. Drew, Compt, St. Paul, Minn. Office, St. Paul, Minn. MINNEAPOLIS WESTERN RY In Min- neapolis, Minn., 1.69 m. ; trackage, Great North- ern Ry., in Minneapolis, Minn., 0.34 m. — total operated, 2.03 m. ; total track owned ( steel ; 68 and 75 Ibs.), 6.73 miles. HISTORY. — Chartered Nov. 1, 1888. This com- pany performs a general switching and transfer service ; has dirnct connection with G. N. Ry.. C., M. & S. P. Ry., C. G. W. Ry., and with all other lines into Minneapolis, via Great North- ern Ry. Locomotives, 2. INCOME ACCOUNT, year ending June 30, 1902. — Gross earnings, $65,239. Operating expenses, $38,196. Net earnings, $27,043. Paid interest on bonds, $25,000. Surplus, $2,043 ; surplus forward, $28,916 ; net surplus, $30,959. BALANCE SHEET. June 30. 1902.— Capital stock ($100 shares), $250,000; funded debt (see POOR'S MANUAL OP RAILROADS — NORTHWESTERN GROUP, Sec. 17), $500,000 ; accrued taxes, not yet payable, $811; current liabilities, $17,502; profit and loss, 130,969 — total, $799,272. Contra : Cost of road, $743,497 ; materials, $638 ; cash and current assets, $55,136— total, $799,272. CORPORATE OFFICERS. — Louis W. Hill, Pres. ; R. I. Farrington, Vice-Pres. ; E. Sawyer, Sec. & Treas., St. Paul, Minn. Office, St. Paul, Minn. MONTANA CENTRAL RY — Great Falls to Helena, Mont, 96.69 m. ; Lewis June, to Stockett, 5.21 m. ; Helena to Butte, 72.53 m. ; Great Falls to Sand Coulee, 14.53 m. ; Allen to Neibart, 56.24 m. ; Monarch to Barker, 10.79 m. ; Red Mountain Branch at Helena, 1.14 m. ; branch to Mountain View Mines near Butte, 3.38 m.— total. 260.51 m. : total track (steel, 260.51 m.), 316.03 miles. Rail, 60, 68, 75, 77} and 80 Ibs. Company has trackage rights over 4.05 m. of the Great Northern Ry. from Sun River to Junction with Sand Coulee Branch ; total line operated, 264.56 miles. HISTORY. — Organized Jan. 25. 1866. The branch from Lewis June, to Stockett was opened in 1898 ; the main line and the other branches, from 1887 to 1893. (See MANUAL for 1893, page 290.) Controlled by the Great Northern Ry. Co., through ownership of the entire capital stock. The operations for the year ending June 30, 1902, arc shown in Sec. 13 of the Great Northern state- ment. General Balance Sheet, June 30, 1902. Capital Stock (par, $100) $5,000,00000 Funded Debt (see Sec. 17) 10,000,00000 Current Liabilities 419,94499 Taxes Accrued, not Due 27,500 00 Fund for Replacement of Equipment 52,826 42 Advances Acct. of Construction 325,70002 Profit and Loss 230,40636 Total Liabilities $16,056,377 79 Cost of Road and Equipment $15,325,70002 Materials and Supplies on Hand 90,385 86 Current Accounts 592,90051 Cash on Hand 47,39140 Total Assets $16,056,37779 ROLLING STOCK. — Locomotives, 34. Cars — passenger, 13 ; baggage, mail, and express, 6 ; freight ( box, 100 ; stock, 50 ; ore, 500 ; flat and coal, 799; ballast with coal sides, 400), 1,849; service, 43 — total, 1,910. CORPORATE OFFICERS. — Louis W. Hill, Pres. ; M. D. Grover, Vice-Pres. ; E. Sawyer, Sec. & Treas. ; J. G. Drew, Compt., St. Paul, Minn. Office, St. Paul, Minn. \\ IM.M \ll AND SIOUX PALLS RY Willrnar, Minn., to Sioux City, la., 223.76 m. ; South Sioux City to O'Neill, Neb., 129.16 m. ; Gar- retson to Yankton, S. D., 80.49 m. — total, 433.41 m. ; total track, 482.35 miles. Rail (steel, 433.34 m.), 56, 60 and 75 Ibs. The company leases 3.32 m. of line between Sioux City, la., and South Sioux City, Neb., making the total length oper- ated 436.73 miles. HISTORY. — Chartered March 3, 1886 ; road opened from Willmar, Minn., to Yankton, S. D., 205.25 m., on Nov. 1, 1893. On Jan. 1, 1900, the company acquired the Sioux City and Northern RR. (Garretson, S. D., to Sioux City, la., 96 m., and the Sioux City and Western Ry. (South Sioux City to O'Neill, Neb., 129.16 m.), and on April 1, 1900, acquired (he Sioux Falls Terminal RR., 3.02 miles. The company is con- trolled by the Great Northern Ry. Co., through ownership of the entire capital stock. The oper- ations for the year ending June 30, 1902, are shown In Sec. 13, of the Great Northern state- ment. ROLLING STOCK. — Locomotives, 16. Cars — passenger, 12; baggage, etc., 3: freight (box, 766; stock, 100; refrigerator, 50; flat, 155), 1,071; serv- ice, 12 — total, 1,098. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $7,000,000; funded debt (see Sec. 17), $3,646,000; other liabilities, $519,195; taxes accrued, $32,759 ; interest accrued, $15,192 ; equipment replacement fund, $7,631 ; profit and loss, $422,479 — total, $11,643,256. Contra: Cost of road, $8,638,143 ; equipment, $388,410 ; securities of other companies, $2,500,000 ; real estate, $100 ; materials, etc., $45,198 ; current accounts, $22,849 ; cash, $48,555 — total, $11,643,256. CORPORATE OFFICERS. — Louis W. Hill, Pres. ; R. I. Farrington, Vice-Pres. ; E. Sawyer, Sec. & Treas. ; J. G. Drew, Comptroller, St. Paul, Minn. Office, St. Paul, Minn. 2G. PBOPBIETABY RAILROADS WHOSE STATISTICS ARE NOT INCLUDED IN THE REPORT OF THE GREAT NORTHERN RY. Co. COLUMBIA AND RED MOUNTAIN RY. — Northport, Wash., to International Boundary, 7.47 miles. Rail (steel), 56 and 80 Ibs. HISTORY. — Chartered Jan., 1895 ; road opened Dec., 1896. The company owns 1 passenger and 19 freight cars, and owns jointly with the Red Mountain Ry. Co. 1 locomotive and 1 caboose car. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 4,503; freight, 8,553), 13,056 miles. Passengers carried, 19,384 ; carried one mile, 133,816. Tons freight moved, 242,573 ; ton-miles, 1,798,522. Earnings (passenger, $10,- 876; freight, $62,763; other, $1,314), $74,953. Oper- ating expenses, $43,108. Net earnings, $31,845; other receipts, $159 — total, $32,004. Payments : In- terest on bonds, $17,460 ; taxes, $1,736 ; dividends (5 p. c.), $13,220 — total, $32,416. Deficit, $412. Sur- plus forward, $1,219. Net surplus, $807. BALANCE SHEET, June 30, 1902. — Capital stock, $2«4,400; funded debt (1st 6s of 1916), $291,- 000 ; current and other liabilities, $12,937 ; profit and loss, $807 — total, $569,144. Contra : Cost of road, $568,648 ; other assets, $10,496 — total, $569,- 144. The Great Northern Ry. Co. owns both the stock and the bonds. CORPORATE OFFICERS. — W. H. Thompson, Pres., Seattle, Wash. ; H. A. Kennedy, Vice-Pres., Spokane, Wash. ; E. Sawyer, Treas., St. Paul, Minn. ; A. M. Thomas, Sec., Spokane, Wash. Of- fices, Spokane, Wash., and 32 Nassau St., New York, N. Y. NELSON AND FORT SHKPPARD RY.— International Boundary Line to Troup June., B. C., 64.7 m. ; trackage, C. P. Ry., Troup. June, to Nelson, B. C., 4.7 m. ; total operated, 59.4 miles. Sidings, etc., 3.44 miles. Rail (steel), 56 Ibs. HISTORY. — Chartered April, 1891 ; road opened Dec., 1893. An extension of the Spokane Falls and Northern Ry. The company owns one ca- boose car. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 41,010; freight, 19,818), 60,828 miles. Passengers carried, 21,552; carried one mile, 692,905. Tons freight moved, 54,589 ; ton-miles, 2,681,732. Earnings ( passenger, $43,959 ; freight, $93,433; other, $3,766), $141,158. Oper- ating expenses, $115,308. Net earnings, $25,850 ; other receipts, $749 — total, $26,599. Payments : In- terest on bonds, $77,580 ; taxes, $1,145 — total, $78,- 725. Deficit, $62,125; deficit forward, $198,624 — total, $250,749. BALANCE SHEET, June 30, 1902. — Capital stock, $1,500,000; funded debt (1st 6s of 1943; $1,- 500,000 auth.), $1,293,000; bonds redeemed, $40,- 000 ; interest accrued, not due, $38,790 ; taxes ac- crued, $568; current liabilities, $60,220 — total, $2,932,578. Contra : Cost of road, $2,670,413 ; cur- rent assets, $11,416; profit and loss, $250,749 — to- 589 tft!, $2,932,578. The Great Northern Ry. Co. owns both the stock and the bonds. CORPORATE OFFICERS. — W. H. Thompson, Pres., Seattle, Wash. ; H. A. Kennedy, Vice-Pres., Spokane, Wash. ; E. Sawyer, Treas., St. Paul, Minn. ; A. M. Thomas, Sec., Spokane, Wash. Of- fices, Spokane, Wash., and 32 Nassau St., New York, N. Y. RED MOUNTAIN RY International Boun- dary to Rossland, B. C., 9.53 m. ; total track (steel ; 56 and 80 IDS.), 12.97 miles. HISTORY. — Chartered April, 1893 ; road opened Dec., 1896. An extension of the Columbia and Red Mountain Ry. ROLLING STOCK. — The company owns 1 pas- senger and 18 freight cars, and owns jointly with the C. & R. M. Ry. Co., 1 locomotive and 1 ca- boose car. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 5,731; freight, 10,931), 16,662 miles. Passengers carried, 19,384 ; carried one mile, 181,676. Tons freight moved, 242,573 ; ton-miles, 2,289,028. Earnings (passenger, $11,- 782; freight, $67,993; other, $2,627), $82,402. Op- erating expenses, $61,375. Net earnings, $21,027 ; other receipts, $177 — total, $21,204. Payments : Interest on bonds, $13,020 ; taxes, $241 ; dividend (5 p. c.), $9,530— total, $22,091. Deficit, $1,587. Surplus forward, $2,219. Net surplus, $632. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $190,600; funded debt (1st 6s of 1916; $238,250 auth.), $217,000; interest ac- crued, not due, $6,510 ; taxes accrued, $340 ; cur- rent liabilities, $34,070 ; profit and loss, $632 — to- tal, $449,152. Contra : Cost of road and equip- ment, $442,642 ; cash on hand, $6,510 — total, $449,- 152. The Great Northern Ry. Co. owns both the stock and the bonds. CORPORATE OFFICERS. — W. H. Thompson, Pres., Seattle, Wash. ; H. A. Kennedy, Vice-Pres., Spokane, Wash. ; E. Sawyer, Treas., St. Paul, Minn. ; A. M. Thomas, Sec., Spokane, Wash. Of- fices, Spokane, Wash., and 32 Nassau St., New York, N. Y. SPOKANE FALLS AND NORTHERN RY. — Spokane, Wash., to International Boundary, 131.83 m. ; trackage, G. N. Ry., East Spokane to S. F. & N. June., 8.77 m. ; total operated, 140.6 miles. Sidings owned, 12.49 miles. Rail (steel), 56 Ibs. HISTORY. — Chartered April 4, 1888; road opened throughoufon June 26, 1893. ROLLING STOCK. — Locomotives, 11. Cars — passenger, 10; baggage, etc., 6; freight (box, 56; flat, 129; stock, 5; ore, 25; refrigerator, 4), 219; service, 4 — total, 239. OPERATIONS, year ending June 30, 1902. — Trains run (passenger, 103,303; freight, 78,424), 181,727 miles. Passengers carried, 89,508 ; carried one mile, 6,433,679. Tons freight moved, 398,436 ; ton-miles, 22,466,159. Earnings (passenger, $297,- 401 ; freight, $525,467 ; mail and express, $33,621 ; other, $10,195), $866,684. Operating expenses, $362,- 508. Net earnings, $504,176 ; other receipts, $9, - 336 — total, $513,512. Payments : Interest on bonds, $168,720 ; taxes, $27,322 ; sundries, $1,085 — total, $197,127. Surplus, $316,385 ; surplus forward, $133,- 442 — total, $449,827. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $2,812,000; funded debt (1st 6s of 1939), $2,812,000; interest accrued, not due, $88,379 ; taxes accrued, $21,487 ; current liabilities, $246,979 ; profit and loss, $449,827 — total, $6,430,- 672. Contra : Cost of road and equipment, $5,- 691,890; materials, etc., $38,280; bills receivable, $485,638 ; cash and current assets, $214,864 — total, $6,430,672. The Great Northern Ry. Co. owns both the stock and the bonds. CORPORATE OFFICERS.— L. W. Hill, Pres., St. Paul, Minn. ; H. A. Kennedy, Vice-Pres., Spo- kane, Wash. ; E. Sawyer, Treas., St. Paul, Minn. ; A. M. Thomas, Sec., Spokane, Wash. Offices, Spokane, Wash., and 32 Nassau St., New York, N. Y. 24. Board of Directors, Great Northern Ry. Co., elected Oct. 9, 1902. Term expires in Oct., 1903. Edward Sawyer. St. Paul.Minn. M. D. Grover. . . R. I. Farrington. " Term expires in Oct., 1904. Wm. B. Dean... St. Paul, Minn. James N. Hill.. H. W. Cannon... New York.N.Y. Term expires in Oct., 1905. James J. Hill... St. Paul, Minn. F. Weyerhaeuser. " Louis W. Hill.. JAMES J. HILL, President St. Paul, Minn. Louis W. Hill, Asst. to President " " James N. Hill, ' V ice-President " " R. I. Farrington, 2d V 'ice-President " " E. T. Nichols, 3d Vice-Pres. d Sec New York, N. Y. J. W. Blabon, 4th V 'ice-President St. Paul, Minn. Treas. & Asst. Sec. — E. Sawyer. ..St. Paul, Minn. | Comptroller. — J. G. Drew St. Paul, Minn. Asst. Sec. & Asst. Treas. — N. Terhune New York, N. Y. PRINCIPAL OFFICE AND ADDRESS St. Paul, Minn. IOWA CENTRAL RAILWAY COMPANY. (For map of this road see page 591.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 9 Directors and Officers 12 Earnings, Exp., etc., 1902-3.6, 6a Earnings, Exp., etc., 1896-1902. 8 Funded Debt, Details of 10 Gen. Bal. Sheet, June 30, 1902. 7 History 1 Income Acct., June 30, 1902. . 6 Income Account, 1896-1902... 8 Iowa Cent. & West., Lease of 3 Kelthsburg Bridge Purchase. 4 Lease of I. C. & W. Ry 3 Leased Line, Statement of. . 11 Mileage Oper'd, June 30,1902. 2 Operations and Inc., 1896-1902. 8 Rolling Stock s Supplementary Inc. Acct 6a 1. History. — Reorganization in 1888 of the Central Iowa Ry. Co. (see MANUAL for 1890, page 512). Under date of Aug. 1, 1881, the company leased its line" of road from Manly Junction to Northwood, la., a distance of 11 miles, to the Burlington, 590 POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP. Cedar Rapids and Northern RR. Co., for a term of 25 years, at an annual rental of $14,000. Subsequently, by order of the courts, the company was required to continue to operate its trains over that portion of its line, but, under the terms of the lease, the receipts from such train service accrued to the lessee. In view of this unsatisfactory condition and the advantage of owning or controlling a line of road to Albert Lea, Minn., where connection is had with the Minneapolis and St. Louis RR., Illinois Central RR., and Chicago, Milwaukee and St. Paul Ry., the lease above referred to was abrogated and a new agreement entered into, under date of July 1, 1901, with the Burlington, Cedar Rapids and Northern Ry. Co., which provides for the joint and equal use, in perpetuity, of that portion of the company's line of road from Manly Junction to Xorthwood, la., and of about 16.7 miles of the Burlington, Cedar Rapids and Northern Ry. Go's, line of road, from Northwood, la., to Abert Lea, Minn. 2. Mileage Operated, June 30, 1902 (owned, 491.63 miles). Main Line: Iowa Junction, 111., to Manly Junction, la 340.92 m les. Albia Branch: Oskaloosa to Albia, la 23.50 Newton Branch: New Sharon to Newton, la 27.75 Lynnville Branch: Lynnville Junction to Lynnville, la 2.50 Montezuma Branch: G. M. Junction to Montezuma, la 13.61 State Center Branch: Newburg to State Center, la 26.64 Story City Branch: Minerva Junction to Story City, la 34.51 Belmond Branch: Hampton to Belmond, la 22.20 OWNED JOINTLY- •! Manly Junc' to Northwood, la 11.00 • ( Northwood, la., to Albert Lea, Minn 16.00 LEASED: Iowa Central and Western Ry.: Belmond to Algona, la 37.00 TRACKAGE : Peoria and Pekin Union Ry. : Iowa Junction to Peoria, 111 .... 2.80 Total length of lines operated June 30, 1902 558.43 miles. Sidings, etc., 118.59 miles. Gauge, 4 ft. 8% in. Rail— iron (47.26 m.), 50 Ibs.; steel (610.96 miles), 60 and 70 Ibs. 3. Lease of Iowa Central and Western By. — The company has leased, for 50 years, from July 1, 1901, the Iowa Central and Western Ry. Co.'s line of road, from Belmond to Algona, la., a distance of 37 miles, upon the condition that it shall main- tain the property, paying, in addition to all taxes lawfully assessed, 20 per cent, of all gross earnings accruing from the operation of the property. The company further obligates itself to apply these earnings accruing to the Iowa Central and Western Ry. Co. from the lease of its property toward the payment of interest on, and the principal of, the mortgage indebtedness of the latter company. 4. Acquisition Of the Keithsburg Bridge.— In July, 1901,the Keithsburg Bridge Co. conveyed to this company the bridge across the Mississippi River at Keithsburg, 111., in consideration of the I. C. Ry. Co. assuming the outstanding bonds of the Bridge Co. Since then the bonds have been retired. 5. Rolling Stock, June 30, 1902. — Locomotives, 76. Cars — passenger, 28; baggage, mail and express, 11; freight (box, 1,527; furniture, 94; stock, 111; coal, 794), 2,526; caboose, 39; service, 173 — total, 2,777. AI / De Smet, Mont., to Wallace, Id 128.37 Cceur dAlene:{ tWallace; I(L> ^est •• 4J5 Burke: Wallace to Burke, Id 6.86 Sunset: Wallace to Custer, Id 5.36 Fort Sherman: Hauser Junction to Cceur d'Alene, Id 13.65 Palouse and Lewiston: Marshall Junction, Wash., to Lewiston, Id 138.76 Genesee: Pullman Junction, Wash., to Genesee, Id 27.52 Clearwater Short Line: Potlach to Kooskia, Id 62.89 Lapwai: North Lapwai to Culdesac, Id 11.96 Farmington : Belmont to Farmington, Wash 5.94 Spokane and Seattle: fMedical Lake to Davenport, Wash 16.28 Washington Central: Cheney to Coulee City, Wash 109.34 Roslyn: Clealum to Roslyn Mines, Wash 5.41 Buckley Line: Palmer June, to Meeker June., Wash 33.56 " Green River: Palmer to Trackend, Wash 14.79 Burnett : Burnett to Pittsburg, Wash 3.53 Wilkeson: Cascade to Wilkeson and Fairfax, Wash 16.79 Crocker: Crocker to Douty, Wash 5.29 Orting : Orting to Puyallup River, Wash 7.64 (Continued on next page.) POOR'S MANUAL NORTHERN PACIFIC RY. CO. 599 Brought Forward 5,179.24 miles. Snoqualmie: Woodeuville Junction to Sallal Prairie, Wash 37.51 Everett : Snohomish to Everett, Wash 1 1.44 ( Belt Line Junction to Renton, Wash 1.98 Lake Washington : 1 fRenton to Trackend, Wash 3.66 ( fKirkland Junction to Kirkland, Wash 5.64 Olympia: Lake View to Centralia, Wash 56.43 Gray's Harbor: Gate City to Ocosta, Wash 53.29 Elma: Elma to Summit, Wash 9.99 Aberdeen : Aberdeen Junction to Hoquiam, Wash 6.84 Cosmopolis: Cosmopolis Junction to Cosmopolis, Wash 1.81 South Bend: Chehalis to South Bend, Wash 56.68 Arlington: Arlington to Darrington, Wash 28.08 Total length of Northern Pacific Ry. and Proprietary Lines 5,452.59 miles. Deduct mileage owned, but not operated by N. P. Ry. Co. Leased to Province ( Manitoba section of Winnipeg Line 65.94m. of Manitoba: ( Branches designated thus (*) 288.71 m. Leased to B., A. & P. Ry. Co.: Anaconda Branch 8.99m. Not in operation: Lines designated thus (f) 30.33m. — 393.97 " Mileage of N. P. Ry. operated by N. P. Ry. Co 5,058.62 miles. B. OWNED JOINTLY WITH OTHEB COMPANIES (total, 11.76 miles). St. Paul Union Depot : At St. Paul, Minn 0.56 miles. Seattle Line: Junction to Seattle, Wash, (jointly with C. & P. S. Ry. Co.) . 10.28 " Northern Pacific Terminal: At Portland, Ore 0.92 " O. LEASED OB OPERATED UNDEB TRACKAGE CONTRACTS (total, 7.33 miles). Chicago, 8t. Paul, Minneapolis and Omaha Ry. : At Ashland, Wis 0.33 miles. Chicago, Milwaukee & 8t. Paul Ry. : At Minneapolis, Minn 0.57 " Minneapolis and St. Louis RR.: At Minneapolis, Minn 1.62 Montana Central Ry.: Wickes to Amazon, Mont 4.81 " D. CONTROLLED, BUT OPERATED AS SEPARATE ORGANIZATIONS (total, 277.87 miles). Washington and Columbia River Ry. (see separate statement, subjoined) . . 162.73 miles. Minnesota and International Ry.: Brainerd to Bemidji, Minn 115.14 " Total operated mileage of Northern Pacific System, June 30, 1902 5,355.58 miles. la. Summary of Track Mileage.— Statement showing the track mileage of the system on June 30, 1902: First Track. Second Track. Spurs. Yard Track and Sidings. Total Track. Northern Pacific Ry. : Lines Operated by N. P. Ry. Co Lines Leased to other Companies Lines not in Operation Controlled Railroads, Operated Separately. . . Leased Tracks Operated Jointly with other Companies Miles. 5,058.62 363.64 30.33 277.87 7.33 11.76 Miles. 59.68 Miles. 250.27 3.54 1.84 14.50 1.38 0.67 Miles. 1,027.21 150.06 2.11 34.90 3.86 87.80 Miles. 6,395.78 517.24 34.28 327.27 8.71 104.09 Totals. 5,749.55 61.73 274.01 1,302.08 7,387.37 Gauge, 4 ft, 8y2 in. Rail — iron, 56 Ibs.j steel, 35 to 80 Ibs. 2. History.— Reorganization, in July, 1896, of the Northern Pacific RR. Co. The plan of reorganization is outlined in the MANUAL for 1896,on page 690 et seq., and a sketch of the history of the system down to June 30, 1901, is in the MANUAL for 1901, on page 581 et seq. 600 POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP* Xcir Construction. — During the year ending June 30, 1902, the following branches and extensions were completed and put in operation: Oberon Branch, from Oberon, N. D., northwesterly, 28.07 miles; Ruby Valley Extension, from Twin Bridges, Mont., to end of track, 19.39 miles; Green River Branch, from Kanaskat, Wash, to end of track, 5.03 miles — total, 52.49 miles. The construction of the following branches or extensions has been authorized, but the same were not completed June 30, 190li : Peninsular Branch, from Hoquiam to south boundary line of Quinaiult Indian Reser- vation, 27.90 miles; extension Sykeston Branch, from Bowdon to Howe, N. D., 26.47 miles; Bismarck to Edgeley Extension, from Bismarck to Linton, N. D., 45 miles; Seattle Extension, from Black River Junction to Argo, Wash., 6.48 miles; Park Branch Extension, from Cinnabar to Gardiner, Mont., 2.52 miles — total, 108.37 miles. All of the above construction is from funds provided under the terms of the prior lien mort- gage, and the lines become a part of the estate of this company, subject to the same. Lines Abandoned. — The 4.19-mile section of the Spokane and Seattle Ry., from Spokane, Wash., to connection with Great Northern Ry., and 6.42 miles of the Coeur d'Alene Branch near Wardner, Id., have both been abandoned. Purchase of Minneapolis and Duluth RR. — The line from White Bear to Minne- apolis, Minn., 13.19 miles, operated on June 30, 1901, under a lease from the Minneapolis and St. Louis RR. Co. to the St. Paul and Duluth RR. Co., was purchased by this com- pany on Nov. 1, 1901, the consideration being $1 in hand and the assumption of a mort- gage securing $280,000 of 1st mortgage 7 per cent, gold bonds due Jan. 1, 1907. Other Recent Acquisitions. — On May 26, 1902, the company purchased for $550,000 in cash the property of the Duluth Transfer Ry. Co., and on June 16, 1902, it purchased the Washburn, Bayfield and Iron River RR., 33.77 miles, paying therefor $125,673.74. The company has also purchased the Union Depot Transfer Ry., at Stillwater, Minn., the purchase price being $95,000. All three properties have been conveyed by deed to the Northern Pacific Ry. Co. and now form integral parts of its system. Since the close of the fiscal year ending June 30, 1902, the company has acquired the Washington and Oregon RR., the Monte Cristo Ry., the Bellingham Bay and Eastern RR., and the Port Townsend Southern RR., but those lines are not as yet operated as parts of the Northern Pacific System. Statements for the Bellingham Bay and Eastern RR., the Monte Cristo Ry. and the Port Townsend Southern RR. are subjoined hereto. The Washington and Oregon RR. is a new road, built in 1902. It extends from Kalama to Vancouver, Wash., 28.5 miles. Lines Leased to Manitoba Government. — The company's railroad lines and prop- erty within the Province of Manitoba are leased to the Manitoba Government, for 999 years from June 1, 1901, at a rental of $210,000 a year for the first ten years, $225,000 a year for the second ten years, $275,000 a year for the third ten years, and $300,000 a year thereafter, the lessee having the option to purchase the property at any time for $7,000,000. Burlington Purchase. — Effective July 1, 1901, this company and the Great Northern Ry. Co., jointly, acquired the control of the Chicago, Burlington and Quincy RR. Co., by the purchase of approximately 98 per cent, of its capital stock for $200 per share in joint bonds of the purchasing companies (see MANUAL for 1901, page 584; also, Sec- tion 9 of this statement) . Leased and Controlled Lines. — The Washington Central RR. (see Sec. 15), is leased for 999 years from March 1, 1898, all of its capital stock being owned by the Northern Pacific Ry. Co. The Minnesota and International Ry. and the Washington and Columbia River Ry. are controlled by the Northern Pacific Ry. Co., but are operated as separate organizations. Separate . statements for them will be found on pages 606 and 607. 3. Water Lines.— In addition to its railway lines the company operates one steamer on Coeur d'Alene River, between Harrison and Coeur d'Alene City, one steamer on the Columbia River, between Kalama and Goble; and one steamer on the Clearwater River. POOR S MANUAL NORTHERN PACIFIC RY. CO. 601 4. Terminals. — The following is a detailed statement of the terminal tracks in- cluded in the mileage of the Northern Pacific Ry. Co., June 30, 1902: NAME OF OWNER. Location of Terminals. Main Track. Spurs. Yard Track and Sid'gs. Total Track. Ownership or Terms of Occupancy. Duluth Union Depot Co Duluth, Minn Winnipeg, Man Miles. 0.25 1.24 0.92 Miles. 0.76 Miles. 2.33 0.64 16.24 16.00 49.73 5.83 Miles. 2.58 2.64 17.16 16.00 49.73 6.39 0.57 0.33 Owned. Owned. 40 p. c. int. J interest. 4 interest. J interest. Under lease. Under lease. Winnipeg Transfer Ry. Co., Ltd No. Pac. Terminal Co. of Oregon Lake Sup. Term & Transfer Ry. Co Minnesota Transfer Ry. Co Portland, Ore Superior, Wis St. Paul Union Depot Co St. Paul, Minn 0.56 C., M. & St. P. Ry. Co Minneapolis, Minn. . . . 0.57 C. St. P M. & O. Ry. Co Ashland, Wis. . . 0 33 Totals 3.87 0.76 90.77 95.40 In the main statement of mileage, as well as in the summary of track mileage, the above mileage is distributed between mileage owned, mileage leased, and joint mileage. 5. Boiling Stock, June 30, 1902. — Locomotives, 796; passenger train cars, 683; freight train cars, 30,961; miscellaneous equipment, 3,221. Freight Train Cars. Box 17,372 Furniture 541 Refrigerator 430 Fruit 28 Stock 1,355 Flat 7,034 Oil 275 Coal 2,808 Milk 2 Ballast and Ore 1,116 Miscellaneous Equipment. Caboose 311 Boarding Cars 166 Tool Cars Pile Drivers . , Ballast Dozers. Wrecking Cars Steam Shovels. Plow Cars Water Cars Cinder Cars . . . Hand and Push Cars 2,279 Velocipedes 221 Snow Plows 10 Weed Burners 4 Unloaders 6 Sundry (rolling) 24 Steamers and Barges 4 Passenger Train Cars. Sleeping (1 interest) 70 Business 10 Dining 29 Buffet and Observation 16 Chair 2 Parlor 2 First Class Coaches 157 Second Class Coaches 120 Tourist Sleepers 54 Emigrant Sleepers '. 5 Combination 50 Baggage 57 Express 26 Baggage and Express 10 Mall and Express 46 Postal 21 Superintendents' 8 Total 683 Total 30,961 Total 3,221 There is also the following equipment not in service and held for sale: 32 locomo- tives, 3 old-style steam shovels, and 4 flat cars. 6. General Income Account, year ending June 30, 1902. Earnings— Passenger $9,177,508 89 Freight 30,227,013 32 Mail and Express 1,352,03170 Miscellaneous 630,82580 Expenses — Malnt. of Way and Struc. . $6,767,756 94 Maintenance of Equipment. 3,404,994 58 Conducting Transportation. 10,139,817 36 General Expenses 975,845 00 Total ($8,245.66 per mile) $41,387,379711 Total ($4,241.26 per mile) $21,288,41388 Net earnings (48.6 p. c.), $20,098,965.83; add dividends and interest, $843,765.04 — total, $20,942,730.87. Payments: Taxes (State and county, $1,103,050.17; revenue stamp tax, $46,840.15), $1,149,890.32; interest on bonds, $6,624,865.83; rental of leased lines, $120,742.54; dividends (Nos. 17 and 18 on preferred stock, $1,500,000; Nos. 10 to 13 on common stock, $6,999,946), $8,499,946; appropriation for improvements, etc., $3,000,000— total, $19,395,444.69. Surplus, $1,547,286.18; surplus forward, $3,507,423.39; amount reserved for dividends on preferred stock, June 30, 1898, now restored to sur- plus, $3,000,000— total, $8,054,709.57. 6a. Interest on Bonds.— Prior lien bonds (on $96,507,500 for 3 months, on $96,- 514,500 for 1 month, on $96,844,500 for 5 months and on $98,868,500 for 3 months), $3,889,550; general lien bonds (on $54,161,000 for 1 month, on $54,200,000 for 3 months and on $56,000,000 for 8 months), $1,661,902.50; St. Paul-Duluth Division bonds (on $8,267,000 for 4 months, on $8,527,000 for 1 month, on $8,096,000 for 6 jnonths and on $8,055,000 for 1 month, $327,420; less adjustment of June, 1901, interest on bonds 602 POOR S MANUAL OF RAILROADS — NORTHWESTERN GROUP. purchased and cancelled, $573.34), $326,846.66; St. Paul and Northern Pacific bonds $481,260; Western RR. of Minn, bonds, $24,640; Minneapolis and Duluth bonds (8 months), $13,066.67; St. P. & D. RR. 1st mtge. bonds, $50,000; St. P. & D. RR. 2d mtge. bonds, $100,000; St. P. &, D. RR. 1st consol. mtge. bonds, $40,000; T. F. & L. S. RR. bonds, $12,600; Duluth Short Line bonds, $25,000— total, $6,624,865.83. 7. General Balance Sheet, June 30, 1902. Northern Pacific Estate $280,398,12742 Equipment 24,671,73818 Prop'y Leased to Govt. of Manitoba. 7,000,000 00 Cash in Hands of Sink. Fd. Trustees. 1,677,140 12 Collateral for St. P.-Dul. Div. Bonds. 2,476,326 15 Collateral for Burlington Bonds .... 109,078,509 76 Cash on Hand and in Banks 8,377,434 90 Accounts Receivable 4,027,84981 Bills Receivable 39,13983 Materials on Hand 2,643,218 10 Treasury Securities (see Sec. 14) 12,774,893 56 Betterment and Enlarg. Fund Assets. 1,334,238 87 Insurance Fund Assets 693,848 88 Land Department : Balance of Land Department's Current Assets 6,153,209 65 Total Assets $460,044,676 23 Common Stock and Scrip $166,000,000 00 Funded Debt — Issued..$271,202,700 00 Assum. 13,595,733 40— 284,798,433 40 Prior Lien Bonds Available for Cash Fund to be Issued Pay Rolls, Vouchers and Accounts. Taxes Accrued on RR. ( partly est. ) . Interest on Mtge. Debt — Accrued.. Matured.. Div. Unpaid — Common No. 13 St. P. & D. RR. Co. Reserve Fund for Improve'ts, etc. . Insurance Fund Liquidation Fund Profit and Loss 2,000,000 00 4,646,623 98 652,506 42 531,658 34 1,100,925 25 2,324,976 00 2,015 60 435,166 63 693,848 88 103.811 26 8,054,709 67 Total Liabilities $460,044,67523 8. Capital Stock. — The preferred stock was retired on Jan. 1, 1902, with the proceeds from the sale of $75,000,000 of 4 p. c. convertible certificates, issued under date of Nov. 15, 1901 ; and these certificates have been converted into common stock at par, increasing the outstanding amount of common stock to $155,000,000. Shares are for $100 each, registered as to name, and transferable, at the option of the holder, either in New York or at the Deutsche Bank, Berlin. No additional mortgage can be placed upon the property without the consent of a majority of the whole amount of outstanding capital stock, given at a meeting of the stockholders called for that purpose. 9. Funded Debt. — The funded debt outstanding on June 30, 1902 — total, $284,798,433.40, as per general balance sheet — consisted of the several issues of bonds listed in the following statement. Additional particulars respecting any issue will be found in the paragraph relating thereto subjoined to the statement ; and the details of funded debt outstanding on or about Aug. 1, 1903, will be found in the Ready Reference Bond List — see General Index : Issued by N. P. Ry. Co. prior line gold 4s of Jan. 1, 1997. 56,000,000 general lien gold 3s of Jan. 1, 2047. 8,757,000 St. P.-Dul. Div. gold 4s of Dec. 1, 1996. 107,677,200 (No. Pac.'s proportion) Burlington gold 4s of July 1, 1921. Assumed by N. P. Ry. Co. $352,000 W. RR. of Minn. 1st 7s of May 1, 1907. 8,021,000 St.P.&N.P. gen. gold 6s of Feb. 1, 1923. 1,000,000 St. P. & D. 1st 5s of Aug. 1, 1931. 2,000,000 St. P. & D. 2d 5s of Oct. 1, 1917. 1,000,000 St.P.&D.lst con. gold 4s of June 1, 1968. 210,000 T. F. & L. S. 6s of Jan. 1, 1914. 500,000 D. Sht. Line 5s of Sept. 1, 1916. 280,000 M. & D. 1st gold 7s of Jan. 1, 1907. 232,733 Car Trust Notes, St. P. & D. RR. Prior Lien Gold Bonds. — These bonds are a first lien, either by direct mortgage or through own- ership of the securities, upon the entire property and assets of the company, save those covered by the St. Paul and Northern Pacific general mortgage, and the St. Paul-Duluth Division mortgage, upon which, subject to their existing underlying mortgages, they likewise have subsisting liens. The amount authorized is $130,000,000, the unissued bonds being reserved for the retirement of the bonds of the Western RR. of Minn, and of the St. Paul and Northern Pacific, and to provide for new construction and improvements ; the issue for new construction, etc., not to exceed the amount of $1,500,000 in any one year. The net proceeds of the land grant are applicable, to the extent of one-half, but not exceeding $500,000 in any one year, to the purchase of prior lien bonds at the price of not exceeding 110 p. c., and their cancellation, the other half to be applied, under care- fully guarded restrictions, to the extension and improvement of the property covered by the mort- gage. General Lien Gold Bonds. — These are secured on the same property as the prior lien bonds, but subject in lien thereto. The general lien mortgage authorizes a present issue of $60,000,000 bonds, besides a reserve of $130,000,000 to provide for the prior lien bonds on or before their maturity. The $4,000,000 unissued bonds of the present issue are reserved, under carefully guarded restric- tions, to provide for construction, betterments, equipment, etc. Whenever prior lien bonds cannot be purchased at 110 p. c. (see preceding paragraph), the land receipts available for that purpose may be applied to the purchase of general lien bonds at not exceeding 100 p. c., and their cancellation. St. Paul-Duluth Division Gold Bonds. — Secured on the railroad property formerly of the St. Paul and Duluth RR. Co., comprising the Duluth Short Line, the Fond du Lac, West Superior, Grantsburg, Cloquet, Miller, Taylor's Falls, and Stillwater Branches, the terminals at the head of Lake Superior, and the lease of the line from White Bear to Minneaapolis (title to which was ac- quired by the N. P. Ry. Co. on Nov. 1, 1901). They are subject in lien to the bonds and car trust obligations of the St. Paul and Duluth RR. Co. (assumed by the N. P. Ry. Co., and included in the preceding statement of funded debt), of which there were in all $4,942,733.40 outstanding on June 30, 1902. The lands included in the land grant of the St. Paul and Duluth RR. Co. were not in- cluded in the old mortgages of that company. The title to such lands has been vested directly in the Northwestern Improvement Co., which company issued therefor $4,000,000 of debentures to the Northern Pacific Ry. Co. These debentures have been deposited with the Guaranty Trust Co. of New York, trustee under the St. Paul-Duluth Division mortgage, as additional security for the St. Paul-Duluth Division bonds, under an agreement by which, as the lands are sold, the proceeds are to be applied to the purchase of the St. Paul-Duluth Division bonds at a price not exceeding 105 and accrued interest, or if the bonds cannot be purchased at that price, then to betterments or ad- POOR S MANUAL NORTHERN PACIFIC RT. CO. 603 ditlons to the mortgaged premises. According, as the lands are sold and the proceeds applied as above, a corresponding amount of the deposited debentures will be cancelled. The amount of bonds authorized by the mortgage is $20,000,000, of which $10,186,000 have been issued, but $1,429,000 of these have been retired with net proceeds from land sales, and cancelled. Of the unissued bonds, $4,957,000 are reserved for the retirement of the underlying bonds and car trust obligations, $407,- 000 for improvements to existing property, and $4,450,000 for extensions and additional branches, terminal properties, and to double track existing lines. Northern Pacific-Great Northern Joint Gold Bonds, Burlington Collateral. — Authorized to the amount of $222,400,000, of which $215,154,400 of bonds and scrip had been issued at the close of the fiscal year, June 30, 1902. Issued for the purpose of acquiring the capital stock of the Chicago. Burlington and Quincy RR. Co. at the price of $200 per share, and secured by deposit of the shares acquired, $107,577,200, as of June 30, 1902. The stock thus deposited is owned, one-half by the Northern Pacific Ry. Co. and one-half by the Great Northern Ry. .Co., and the obligation on account of the bonds is apportioned In like manner between the issuing companies, each one-half. In the event of either company defaulting in its obligations, the company not in default becomes the sole owner of the deposited shares, and assumes the entire liability on account of the bonds. The bonds are subject to redemption on any Jan. 1 or July 1, after Jan. 1, 1906, at 105 p. c. and accrued in- terest. Western RR. of Minn. 1st Mtge. Bonds. — These bonds are secured on the section of the St. Paul and Northern Pacific RR. from Sauk Rapids to Brainerd, Minn., 60.5 m., and on the land grant ap- pertaining to that line. St. Paul and Northern Pacific Gen. Mtge. Gold Bonds. — The St. Paul and Northern Pacific gen. mtge. bonds are subject to the Western Minnesota bonds on the line from Sauk Rapids to Brainerd and on the land grant, and are a first lien on the rest of the railroad and property formerly of the St. P. & N. P. Ry. Co. St. Paul and Duluth 1st Mtge. Bonds. — Secured on the main line and branches owned by the St. Paul and Duluth RR. Co. on June 30, 1898 (see MANUAL for 1899, page 654), less one-half of mile- age owned jointly with the Northern Pacific Ry. Co., a total of 171.9 miles. Provision is made in the St. Paul-Duluth Division mortgage of the Northern Pacific Ry. Co. for the retirement of these bonds on or before their maturity. • St. Paul and Duluth 2d Mtge. Bonds. — Secured on the same property (171.9 miles) as the 1st mtge. bonds, but subject in lien thereto. Provision is made in the St. Paul-Duluth Division mort- gage of the Northern Pacific Ry. Co. for the retirement of these bonds on or before their maturity. St. Paul and Duluth Consol. Mtge. Gold Bonds. — Secured on the St. Paul-Duluth Division, less one-half of the line (total length, 23.2 miles) between Carlton and Duluth, a total of 213.3 miles, but subject to prior liens. Provision is made in the St. Paul-Duluth Division mortgage of the North- ern Pacflc Ry. Co. for the retirement of these bonds on or before their maturity. Stillwater and St. Paid RR. Bonds. — Secured by first mortgage on the Stillwater Branch, 12.58 miles. St. Paul-Duluth Division bonds are reserved for the retirement of the $2,500 not presented at maturity. Taylor's Falls and Lake Superior RR. Bonds. — Secured by first mortgage on the Taylor's Falls Branch, 20.5 miles. Provision is made in the St. Paul-Duluth Division mortgage of the Northern Pacific Ry. Co. for the retirement of these bonds on or before their maturity. Duluth Short Line RR. Bonds. — Secured by first mortgage on the line from Thompson, Minn., to West Superior, Wis., 17.75 miles. Provision is made in the St. Paul-Duluth Division mortgage of the Northern Pacific Ry. Co. for the retirement of these bonds on or before their maturity. Minneapolis and Duluth 1st Mtge. Gold Bonds. — Assumed by the Northern Pacific Ry. Co. in the purchase of the line from White Bear to Minneapolis, Minn., 13.19 miles (see Sec. 2), and secured by first mortgage on that line. Car Trust Notes. — These consist of the unpaid balance of car trust notes of the St. Paul and Du- luth RR. Co., as follows: Series A, $26,274, being 15 notes of $1,751.60 each, payable monthly; Series B, $177,348.24, payable $14,779.02 each, Jan. 1 and July 1 ; Series C, $29,111.16, payable $€,239.32 each, Dec. 15 and June 15. 1O. Land Department. — To aid in the construction of the road Congress voted to the North- ern Pacific RR. Co. a land grant of 12,800 acres per mile within the States of Wisconsin, Minne- sota, and Oregon, and of 25,600 acres per mile within the Territories of Dakota, Montana, Idaho, and Washington. By the completion of its main line the company earned approximately 43,000,000 acres, of which, according to the record of the General Land Office, 24,829,259.26 acres had been patented previous to June 30, 1901. At the foreclosure sale of the Northern Pacific RR. Co.'s property the lands lying west of the Missouri River were purchased by the Northern Pacific Ry. Co., the aggregate price paid therefor being $5,605.200. By the absorption of the St. Paul and Northern Pacific Ry. 141,175.62 acres addi- tional were acquired. The following statement shows the condition of the land grant on June 30, 1902 : LANDS. Wisconsin Undisposed of June 30, 1901. Acres. 592.70 I Sold During C Fiscal Year. i Acres. 435.51 22,898.81 28,596.97 23,562.62 12,061.06 805,100.65 96,590.44 1,393,507.40 3,135.60 leceived from ontracts Can- jelled During Fiscal Year. Acres. Net Adjust- ments and Corrections. Acres. Approximate Area Unsold June 30, 1902. Acres. 157.19 91,017.94 95.15 84,193.47 40,940.60 12,260,138.15 1,582,100.63 3,655,751.22 207,073.29 4,999.62 103,942.87 6,248.80 1,316.95 1,730.12 5,467.01 25,430.84 2,349.85 7,896.70 160.00 3.725.08 545.19 L. F. A $2 65 Operating Expenses 22,563,753 58 23.279,702 00 Tons Commercial Freight 8 312 371 8590193 Net Earnings 20,220,164 23 23,359,927 30 Tons Company Freight 3,200,789 3.202,202 Total Tons Moved . 11 513 160 11 792 395 Gross Earnings per Mile 7,525 43 8,167 26 Ton Miles per Mile Road 671,235 751,097 Operating Expenses per Mile. . . . 3.968 27 4.076 61 Average Haul — Miles 331 50 36372 Net Earnings per Mile 3,557 16 4,090 65 Aver. Earnings per Ton . $3 78 {3 96 Expenses to Earnings 52. 73 p. c. 49.91 p. c. Aver. Train Load— Tons 365.62 417.73 Earn, per Freight Train Mile 1301 13 31 19. Condensed General Balance Sheet, June 30, 1902. Cost of Roads, Equipment, etc $353,809,18000 Construction of new Lines 1,220,31348 Stks. and Bonds Owned(see Sec. 21). 141,494,985 77 Trust Funds 358,177 61 Improvement and Equipment Funds. 120,085 20 Current Assets ($13,047,156.52) : Agents and Conductors 618,62249 Cash 4,886,33356 Individuals and Companies 1,166,06364 Material, Fuel and Supplies 3,635,11548 Traffic Balances 148,56638 U. S. Government 716,54797 Accrued Interest, Bonds Owned 1,325,961 67 Accrued Divid., No. Sec. Co. Stock. 549,945 33 Deferred Assets ($5,125,094.26) : Construction Advances 4,393,887 59 Proprietary Companies 731,206 67 Contingent Assets ($3,882,223.30) : Unadjusted Claims and Accounts. . 805,411 94 Land Contracts 3,076,81136 Total Assets $519,057,21614 Capital Stock Afloat (see Sec. 9) : U. P. RR. Common Stock $104,057,90000 U. P. RR. Preferred Stock 39,531,900 00 O. S. L. RR. Common Stock 10,00000 O. RR. & N. Common Stock 38,210 00 O. RR. & N. Preferred Stock 16,954 60 Funded Debt Afloat — U. P. RR 191,952,000 00 O. S. L. RR... 34,718,00000 O. RR. & N.Co. 21,428,000 00 Current Liabilities ($41,416,539.93) : Unpaid Coupons inc. July 1 2,669,682 95 Interest Accrued 2,732,159 70 Loans and Bills Payable* 28,750,00000 Vouchers and Pay Rolls 2,913,469 28 Dividends Unpaid 4,351,228 00 Deferred Liabilities ($1,184,030.58) : Taxes Assessed, not Due Proprietary Companies Contingent Liabilities ($3,341,989.49) Insurance Fund Replacement Funds Deferred Land Payments 3,076,811 36 Profit and Loss 21,361,69154 730,472 53 453,558 05 188,327 16 76,850 97 Total Liabilities $519,057,21614 •Since the close of the fiscal year these loans have been provided for from the proceeds of the sale of $31,000,000 face value Oregon Short Line 4 p. c. and participating bonds, and from other as- sets (see Sees. 10 and 20a). 2O. Funded Debt. — The funded debt of the Union Pacific RR. Co. and Auxiliary Companies outstanding on June 30, 1902 (total, $248,098,000), consisted of the several issues of bonds listed in the following statement. Additional particulars respecting any issue will be found in the para- graph relating to it appended to the statement, and in Sec. 1, and the details of funded debt out- standing on or about Aug. 1, 1903, will be found in the Ready Reference Bond List — see General In- dex : Union Pacific RR. ($191,952,000) : $100,000,000 1st gold 4s of July 1, 1947. 91,952,000 1st lien conv. gold 4s of May 1, 1911. Oregon RR. d Nav. Co. ($21,428,000) : $21,347,000 Consol. gold 4s of Jan. 1, 1946. 81,000 O. Ry. & N. 1st gold 6s of July 1, 1909. Oregon Short Line ($34,718,000) : $14,931,000 O. S. L. Ry. 1st gold 6s of Feb. 1, 1922. 4,993,000 U. & N. Ry. 1st 7s of July 1, 1908. 1,802,000 U. & N. Ry. Consol. g. 5s of July 1, 1926. 12,328,000 Consol. 1st gold 5s of July 1, 1946. 511,000 Income "A" 5s of July 1, 1946. 153,000 Income "B" 4s of July 1, 1946. ADDITIONAL. PARTICULARS RESPECTING BONDS OF UNION PACIFIC RR. CO. First Mtge. Gold Bonds. — The mortgage securing these bonds does not cover the following lines owned by the U. P. RR. Co. : Branch lines in Nebraska, 454.76 miles ; Manhattan, Blue Springs, Junction City and Colby Branches, in Kansas, 406.38 miles ; Julesburg District, in Colorado, 151.53 miles — total, 1,012.67 miles. The mortgage covers the rest of the lines owned by the company, ag- POOR'S MANUAL UNION PACIFIC RR. CO. 615 gregating 1,952.51 miles in length, and will be secured, either by actual conveyance or by deposit of securities, upon future acquisitions. The mortgage also covers, either directly or by beneficial ownership, the lands and land assets of the company, and of the Union Pacific Land Co. (see Sec. 22). First Lien Convertible Gold Bonds. — Secured as a direct first lien on 1,014.27 miles of road not covered by the 1st mtge. bonds (see preceding paragraph). The mortgage also embraces the following securities, which have been deposited with the trustee : $75,000,000 capital stock of the Southern Pacific Co. ; $27,334,700 capital stock of the Oregon Short Line RR. Co. ; $7,663,500 common stock and $9,876,200 preferred stock of the Oregon RR. and Nav. Co. ; $1,000,000 capital stock of the Leavenworth, Kansas and Western Ry. Co., and $4,706,000 1st mtge. gold bonds of the Union Pa- cific Coal Co. Under the terms of the mortgage the company has the right to withdraw at any time from the lien and trusts thereof any or all of the Southern Pacific stock, upon delivering to the trustee in substitution therefor an amount in any or either of the following securities equal at par to one-half the par value of the Southern Pacific stock withdrawn, to wit : Common stock of the Oregon RR. and Navigation Co. ; Oregon Short Line Income A and B bonds, or new bonds which may be issued by the O. S. L. RR. Co., and for which such A and B bonds may be exchanged. The company may also withdraw any or all of the pledged securities, or secure a release of any or all lines from the lien of the mortgage, upon the payment to the trustee of the fixed valuation of such securities or properties. The bonds are subject to redemption at 102 J p. c. and accrued interest, on any interest day after May 1, 1906 ; and until May 1, 1906, they are convertible into common stock, dollar for dollar. The total amount of bonds Issued under the mortgage was $100,000,000, but $8,048,000 of them have been converted into common stock, leaving $91,952,000 outstanding on June 30, 1902. ADDITIONAL PARTICULARS RESPECTING BONDS OF THE OREGON RR. AND NAVIGATION CO. Consol. Mtge. Gold Bonds. — Secured on the entire present and future property of the Oregon RR. and Nav. Co., subject only to the lien of the outstanding 1st mtge. bonds of the Oregon RR. and Nav. Co. (see next paragraph). The bonds are further secured by deposit with the trustee of the follow- ing stocks and bonds : Columbia and Palouse RR. Co. 1st mtge. bonds, $2,829,000 ; Columbia and Palouse RR. Co. stock, $1,000,000 ; Walla Walla and Columbia River RR. Co. stock, $600,000 ; Mill Creek Flume and Mfg. Co. stock, $200,000 — total, $4,629,000. The amount of bonds authorized by the mortgage is $24,500,000, of which $21,670,000 were to be used as provided in the plan of re- organization (see MANUAL, for 1889, page 678), the remaining $2,830,000 to be issued for new con- struction at not exceeding the rate of $20,000 per mile of constructed road. First Mtge. Gold Bonds, O. Ry. & N. Co. — Secured by first mortgage on about 640.17 miles of tha main line of the former O. Ry. & N. Co., on $100,000 capital stock of the Walla Walla and Colum- bia River RR. Co., on $300,000 capital stock of the Cascades RR., and on the ships and rolling stock of the company. The bonds are retired through the operation of a sinking fund of 1 p. c. per annum on the original amount of $6,000,000, the company being authorized by the plan Of reorganization to cover the amount required for the sinking fund by disposal of consol. mtge. bonds. The out- standing bonds of this issue were called for redemption on Jan. 1, 1902, and interest ceased to accrue on them on that date. ADDITIONAL PARTICULARS RESPECTING BONDS OF THE OREGON SHORT LINE RR. CO. First Mtge. Gold Bonds, O. S. L. Ry. Co. — Secured by first mortgage on the main line from Granger, Wyo., to Huntington, Ore., 541.82 miles, and on the branch from Shoshone to Ketchum, Ida., 70 miles — total, 611.82 miles. The total issue is $14,931,000, but $55,000 bonds are held in the treasury, leaving $14,876,000 actually outstanding. First Mtge. Bonds, Utah and Northern Ry. — Secured by first mortgage on the line from Ogden, Utah, to Silver Bow Junction, Mont., 390 miles, and on the branch (leased to Northern Pacific Ry. Co.) from Butte to Garrison, Mont., 56.59 miles. The total issue is $4,993,000, but $1,000 bonds are in the treasury. Consol. Mtge. Gold Bonds, Utah and Northern Ry. — Secured on the same property as the Utah and Northern Ry. 1st mtge. bonds (see preceding paragraph), but subject in lien thereto. Consol. 1st Mtge. Gold Bonds. — Secured by first mortgage on all lines owned by the Oregon Short Line RR. Co. south of Ogden, Utah, and on the Idaho Central Ry., a total of 400 miles. Also secured by lien junior only to the divisional mortgages on all lines formerly of the Oregon Short Line and Utah Northern Ry. Co. (see MANUAL for 1896, page 940). The authorized issue is $36,- 500,000, of which a sufficient amount is reserved for the retirement of prior liens and the balance for the general purposes of the company. Income A Bonds. — Secured on the entire property of the Oregon Short Line RR. Co., subject to prior liens. The bonds are to receive interest, if earned at the rate of 5 p. c. per annum, non-cumu- lative, before any interest can be paid on the income B bonds (see next paragraph). The total issue is $7,185,000, of which the Union Pacific RR. Co. owns $6,614,000 and the Oregon Short Line RR. Co. $38,500, leaving $532,500 outstanding in the hands of the public. Income B Bonds. — Secured on the entire property of the Oregon Short Line RR. Co., subject to prior liens. Also secured by deposit of $16,281,400 common stock of the Oregon RR. and Nav. Co. The bonds are entitled to interest at the rate of 4 p. c. per annum, non-cumulative, payable out of the earnings of the company, or out of dividends on the $16,281,400 common stock of the Oregon RR. and Nav. Co., or both. The total issue is $14,841,000, of which the Union Pacific RR. Co. owns $14,635,000, leaving $206,000 outstanding in the hands of the public. 2Oa. Oregon Short Line 4 p. c. and Participating Gold Bonds. — On July 17, 1902, the Oregon Short Line RR. Co. executed a trust deed to the Equitable Trust Co., of New York, pledg- ing the $82,491,000 common stock of the Northern Securities Co., owned by it as security for an issue of bonds to an equal amount. The bonds are dated Aug. 1, 1902, and will mature on Aug. 1, 1927, but any or all of them may be redeemed at 102 J p. c. and accrued interest, on any interest day after at least three months' published notice. They bear interest at the fixed rate of 4 p. c. per annum, but In addition to such fixed interest they are entitled to receive for every calendar year, beginning with 1903, an amount equal to any dividends and interest in excess of 4 p. c. upon the amount of the outstanding bonds that may be paid in cash during the year upon the deposited col- lateral. The entire issue was delivered to the Union Pacific RR. Co. ; $41,000,000 of the bonds have been sold, the proceeds of $31,000,000 of them being used to pay off the floating debt contracted in the purchase of Northern Pacific stock (see Sec. 10), and the proceeds of the remaining $10,- 000,000 being held in the treasury of the Union Pacific RR. Co. for the future use of that company. 616 POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP. 21. Securities owned by Union Pacific RR. Co. and auxiliary companies in rail- road and other properties, showing totals issued and outstanding. Amounts owned by companies of the system and amounts held by the public, June 30, 1902. Total Outotand'g. OWNED BY Total Owned by the Three COB. Balance Afloat. U.P. RR. Co. 0. S. L. RR. Co. O.RR.4 N.Co. BONDS. U P and Auxiliary Cos. (see Sec. 1) $ 331.132,800 36.000 26,200 5,000 2,829,000 700,000 208,000 131,000 303 100,000 150,000 3.718,000 326.000 146,000 150,000 5,000,000 10,000,000 7,000 422.000 S 82,323,500 4,500 26.200 5,000 $ 710,500 800 $ 83,034,800 4.500 26,200 5,000 2,829,000 700,000 208,000 131,000 303 74,500 63,000 135,000 163,000 146,000 64,000 4,706,000 10,000,000 7,000 422,000 $ 248,098,000 31,500 Atchison Un. Dep. 4 RR. Co. 2d Mtge. 5 p. c Cheyenne Co Colo Judgment 7 p. c City of June. Citv, Davis Co., Kan. Int. Imp. 6 p.c. CoL A Palouse RR. Co. 1st Mtge. 7 p. c Col So Ry Co. 1st Mtge 6 p. c 2,829,000 700,000 Green River Water Works Co. 1st Mtge 6 p. c. ... Idaho Central Ry Co 1st Mtge 6 p c 208.000 131,000 Kansas City Nw. RR. Co. 1st Mtge 5 p. c. Scrip . . Leavenw*th A Topeka Ry. Co., 1st Mtge. 4 p. c. . . Leaven w'th Dep. A RR. Co. 1st Mtge. 5 p. c No. Pac. Terminal Co. 1st Mtge 6 p. c Ogden Un Ry A Dep Co 1st Mtge. 5 p. c 303 74,500 63,000 163,666 146,000 25,500 87,000 3,583,000 163,000 135,000 Rattlesnake Creek Water Co. 1st Mtge. 6 p. c. ... Sumpter Valley Ry Co 1st Mtge 6 p. c 64.000 7,666 422,000 86,000 294,000 Union Pacific Coal Co. 1st Mtge. 5 p. c Union Pacific Land Co. 1st Mtge. 4 p. c Utah Central Ry. Co 1st Mtge. 6 p. c 4,706,000 10,000,000 Utah So. RR Co. 1st Mtge. 7 p. c Total Bonds 355.087.303 267.403,000 150,000 300,000 1,000,000 50,000 225,000 1,000,000 50,000 150,000 . 200,000 352,126,917 10,000,000 300,000 6,000,000 1,000 78,300 100,000 197,849,227 125,000 110,000 400,000 495,000 282,200 135,000 10,000 5,000,000 100,000 500 25,000 700,000 399.625 97.720,003 44,913,979 96,000 1,334,500 18,710,600 3,664,800 123,456 102,719,303 63,748,035 96,000 300,000 1,000,000 50,000 225,000 1,000,000 25,000 50,000 200,000 82,491,871 5,000,000 150,000 2,400,000 1,000 78,300 50,000 90,000,000 125,000 55,000 240,000 45,000 46,700 135,000 10,000 5,000,000 100,000 500 25,000 700,000 399,625 252,368,000 203,654,965 54,000 STOCKS. U. P. and Auxiliary Cos. (See Sec. 1) Cascade RR Co 300,000 1,000.000 Columbia A Palouse RR. Co Desert Salt Co ... .... 50,000 Green River Water Works Co 225,000 1,000,000 25,000 50,000 Leavenworth, Kansas A Western Ry. Co 25,666 100,000 Leavenworth Depot A RR Co Mill Creek Flume A Manufacturing Co. 200,000 Northern Securities Co ~ Occidental A Oriental Steamship Co Ogden Union Railway A Depot Co '5,000,666 ' 150,000 2,400,000 82,491,871 269,635,046 5.000,000 150,000 3,600,000 Pacific Express Co 1.000 Rattlesnake Creek Water Co . 78,300 Short Line Land A Improvement Co 50,000 50,000 107,849,227 Southern Pacific Co. . ." Spokane Union Depot Co 90,000,000 125,000 55,000 240,000 45,000 46,700 135,000 10,000 5,000,000 100,000 500 Topeka Iron Co 55,000 160,000 450,000 235,500 Union Depot A Railway Co (Denver) Union Depot Oo. (Kansas City) Union Elevator Co. (Council Bluffs) Union Elevator Co. (Omaha) Union Land Co. Union Pacific Coal Co Union Pacific Land Co Union Pacific Water Co Utah Lime A Cement Co 25,000 Walla Walla A Columbia River RR. Co 700,000 Wood River Improvement Co 399,625 Total Stocks 844,765,769 150,095,104 101,328,471 2,323,456 253,747,031 591,018,738 Grand Total Bonds and Stocks 1,199.853,072 247,815,107 102,662,971 5,988,256 356,466,334 843,386,738 22. Land Grant Lands. — This company has acquired by direct conveyance under foreclosure sale the lands and rights which belonged to the Union Pacific Ry. Co., acquired through the land grants to the Denver Pacific Ry. and Telegraph Co. and the old Union Pacific RR. Co. The lands and rights derived from the land grant to the Kansas Pacific Ry. Co. were conveyed under foreclosure sale to the Union Pacific Land Co., a corporation organized under the laws of Utah. The capital stock of the Land Company Is $100,000, all of which is owned by the Union Pacific RR. Co. The Land Company has issued its bonds in the amount of $10,000,000, secured by mortgage upon all of its property, to the Mercantile Trust Co. of New York, as trustee. The stock and bonds of the Land Company are pledged with the Mercantile Trust Co., as trustee, under the first mortgage of the Union Pacific RR. Co. The net proceeds from the sale of lands belonging to the Union Pacific RR. Co., after payment of expenses and taxes appertaining thereto, and all sums of money received on account of Interest or principal of the bonds of Union Pacific Land Co., or dividends upon the POOR S MANUA1 -UNION PACIFIC RR. CO. 617 stock of the same company, are under the provisions of the Union Pacific RR. Co.'s first railroad and land grant mortgage set apart and held by the trustee as a cash improvement and equipment fund to reimburse the railroad company for any expenditures for betterments, improvements, equip- ment or other properties not paid for out of other funds or charged to operating expenses or cost of maintenance. For the year ending June 30, 1902, the transactions in respect of the above-men- tioned lands were as follows : Net proceeds applied during the year under provisions of mortgage, $1,253,193.44 ; number of acres sold, 1,258,340.17 ; total amount received (cash and principal of deferred payments), $2,170,- 746.55 ; average price received per acre, $1.73 ; number of acres of land remaining unsold June 30, 1902, 5,241,777.85 ; estimated value of lands and town lots remaining unsold June 30, 1902, $4,101,506.27; land contracts outstanding June 30, 1902, $6,688,226.79. 23. Bonds and stocks owned June 30, 1902, pledged as security under the follow- ing Mortgage Indentures: BONDS. UNION PACIFIC RR. Co. OREGON SHORT LINE RR. Co. OREGON RR. & NAV. Co. Total. 1st RR. 4 LandGr. Mtge. 1st Lien. Conool. Mtge. Consol. 1st Mtge. Inc. B. Mtge. U4N 1st Mtge. U4N Con. Mtge. Consol. 1st Mtge. 0. Ry.4 N.Co. IstMtge. Col iPalouseKR 1st 6s $ $ $ $ $ * $ 2,829,000 I S 2,829,000 55,000 130,000 4,706,000 10,000,000 1,000 6,000 422,000 55,000 Idaho Central Ry. 1st 6s 130,000 Union Pacific Coal 1st 5s. 4,706,000 Union Pacific Land 1st 4s 10,000,000 Utah & Northern Ry. 1st 7s 1,000 Utah Central Ry 1st 6s 6,666 422000 Utah Southern RR. 1st 7s . Total Bonds STOCKS. Cascade RR. Co 10,000,000 4,706,000 558,000 1,000 55,000 2,829,000 18,149.000 300,000 1,000,000 1,000,000 200,000 9,876,200 23,944,900 27,334,700 75,000,000 100,000 700,000 300,000 Columbia 4 Palouse RR. Co 1,000,000 Leav., Kan. and West. Ry. Co 1.000,000 Mill Creek Flume and Mfg Co 200,000 Ore. RR. 4 Nav. Co. Pref 9.876,260 Com Oregon Short Line RR. Co 7,663,500 27,334,700 16,281,400 Southern Pacific Co 75,000,000 Union Pacific Land Co 100,000 Walla Walla 4 Col. R. RR Co 700000 Total Stocks Total Bonds and Stocks 100,000 120,874,400 16,281,400 1,900.000 300,000 139,455,800 10,100,000 125.580,400 558,000 16,281,400 1,000 55,000 4,729,000 300,000 157,604,800 24. AUXILIARY RAILROADS THE STATISTICS OF WHICH ABE INCLUDED IN THE REPOBT OF THE UNION PACIFIC RR. Co. OREGON Hit. & NAV. CO Chartered July 16, 1896, under the laws of Oregon, as successor to the Oregon Ry. and Nav. Co. (see MANUAL for 1898, page 256). The company Is controlled by the Union Pacific RR. Co. through ownership of practically its entire capital stock (see Sec. 1). All accounts and statistics are included in the report of the Union Pacific RR. Co. DIRECTORS (elected Sept. 4, 1902). — E. S. Ben- son, H. W. Corbett, W. W. Cotton, Wm. Crooks, W. M. Ladd, A. L. Mills, A. L. Mohler, H. W. Scott, Portland, Ore. ; Wm. L. Bull, Henry W. Cannon, Wm. D. Cornish, Winslow S. Pierce, New York, N. Y. ; E. H. Harriman, Arden, N. Y. ; Otto H. Kahn, Morristown, N. J. ; Miles C. Moore, Walla Walla, Wash. Officers: A. L. Mohler, Pres., Portland, Ore. ; Wm. D. Cornish, Vice-Pres., New York, N. Y. ; W. W. Cotton, Sec., Portland, Ore. ; F. V. S. Crosby, Treas., New York, N. Y. OfRce, Portland, Ore. OREGON SHORT LINE RR — Incorporated Feb. 9, 1897, as successor to the Oregon Short Line and Utah Northern Ry. Co., In accordance with the for 1896, pages 940 and 941. Controlled by the Union Pacific RR. Co. through ownership of more than 99 p. c. of the capital stock (see Sec. 1). All accounts and statistics are included in the report of the Union Pacific RR. Co. DIRECTORS (elected Oct. 8, 1902).— Oliver Ames, Samuel Carr, T. Jefferson Coolidge, Jr., Gardiner M.Lane, Oliver W. Mink, Boston. Mass. ; Francis S. Bangs, Wm. D. Cornish, Wm. E. Glyn, Edwin Gould, Winslow S. Pierce, New York, N. Y. ; Horace G. Burt, Omaha, Neb. ; George J. Gould, Lakewood, N. J. ; E. H. Harriman, Arden, N. Y. ; W. S. McCormick, Salt Lake City, Utah ; Otto H. Kahn, Morristown, N. J. Officers : E. H. Harriman, Pres., Arden, N. Y. ; Wm. D. Cornish, Vice-Pres. ; Alex. Millar, Sec. ; F. V. S. Crosby, Treas\, New York, N. Y. Office, Salt Lake City, Utah. 25. Board of Directors, U. P. RR. Co., elected October 14, 1902. Oliver Ames Boston, Mass. Horace G. Burt... Omaha, Neb. T. J. Coolldge.Jr.. Boston, Mass. Thos. T. Eckert..New York.N.Y. Louis Fitzgerald. " " Geo. .T. Gould. . .Lakewood, N. J. E. H. Harriman.. Arden, N. Y. Marvin Hughitt.. . . Chicago, 111. Ja*. H. Hyde. .Morristown, N.J. Otto H. Kahn. ..New York, N. Y. Chas.A.Peabody..New York.N.Y. Winslow S. Pierce. " Jacob H. Schlff. James Stillman. H. H. Rogers. . . 618 POOR'S MANUAL OP RAILROADS — NORTHWESTERN GROUP. Board of Directors, U. P. SR., Executive Committee. E. H. HARRIMAN, Chairman New York, N. Y. George J. Gould Lakewood, N. J. I Otto H. Kahn New York, N. Y. Marvin Hughltt Chicago, 111. | Winslow S. Pierce (ex-offlclo).. " James Stillman New York, N. Y. HORACE G. BURT, President Omaha, Neb. Win. D. Cprnish, Vice-President New York, N. Y. Secretary — Alex. Millar New York, N. Y. Treasurer — F. V. S. Crosby Traffic Mgr. — J. C. Stubbs Chicago, 111. Comptroller — Wm. Mahl New York, N. Y. PRINCIPAL OFFICE AND ADDRESS 120 Broadway, New York, N. Y. Operating Headquarters Omaha, Neb. UNION PACIFIC SYSTEM. — Controlled Railroads, operated by their own organiza- tions. ILWACO RY. AND NAV. CO.— Ilwaco to Nahcotta, Wash., 15.26 m.; total track (steel; 35 Ibs.), 16 miles. Gauge, 3 ft. History.— Chartered May 16, 1888; road opened May 29, 1899. The Oregon RR. and Nav. Co. acquired control of this company late in 1900, but operates the property separately. Rolling Stock. — Locomotives, 3. Cars — passenger, 6; freight (box, 6; flat, 6), 12 — total, 18. Also two river steamers. Operations, year ending June 30, 1902. — Earnings (passenger, $10,317; freight, $9,088; other, $213), $19,618. Operating expenses, $16,564. Net earnings, $3,054; other receipts, $5,025 — total, $8,079. Total deductions from income $8,922. Deficit for year, $843. General Balance Sheet, June 30, 1901 (latest rendered).— Capital stock ($125,~ 000 auth.; $50 shares), $124,300; current liabilities, $159,208; other liabilities, $8,021 — total, $291,529. Contra: Cost of road and equipment, $251,146; securities owned,. $6,535; materials, etc., $525; cash and current assets, $4,131; other assets, $12,940; profit and loss, $16,252 — total, $291,529. Directors.— E. S. Benson, W. H. Kennedy, W. Minor, A. L. Mohler, Portland, Ore.; J. R. Goulter, Ilwaco, Wash. OFFICERS: A. L. MOHLER, Pres.; G. W. Mulks, Treas., Portland, Ore.; J. R. Goulter, Sec., Ilwaco, Wash.; E. S. Benson, Gen, Aud., Portland, Ore. GENERAL OFFICE, Portland, Ore. LEAVENWORTH, KANSAS AND WESTERN RR.— Leavenworth to Milton- vale, Kan. (excluding 0.57 m. at Valley Falls, used jointly with the A., T. & S. F. Ry. Co.), 165.63 m.; trackage (see below), 26.33 m.— total operated, 191.96 miles. Sidings, etc., 10.32 miles. Gauge, 4 ft. Sy2 in. Rail (steel, 166.87 m.), 56, 58 and 60 Ibs. Trackage consists of the following: A., T. & S. F. Ry. at Vallev Falls, Kan., 0.57 m. ; Leavenworth Depot and RR., at Leavenworth, Kan., 0.27 m. ; M. P. Ry. and U. P. RR., joint owners, Leavenworth to South Leavenworth, 1.0 m. ; U. P. RR., South Leavenworth to Leavenworth June., 2.93 m. ; M. P. Ry., Leaven\\orth June., to Kansas City, Kan., 19.94 m. ; U. P. RR., Kansas City, Kan., to freight depot, Kansas City, Mo., 1.62 m.— total, 26.33 miles. History. — Chartered Sept. 18, 1897, to take over the property of the Kansas Central RR. Co., which was sold under foreclosure on June 25, 1897 (see MANUAL for 1897, page 805). Controlled by the Union Pacific RR. Co., which owns the entire capital stock. Rolling Stock, — Locomotives (leased), 7. Cars — passenger, 8; freight (box, 31; stock, 2), 33; service, 2 — total cars, 43. Operations, year ending June 30, 1902. — Earnings (passenger, $51,530; freight,. $148,756; other, $16,117), $216,403. Operating expenses, $211,724. Net earnings,. $4,679. Total charges, $22,811. Deficit for year, $18,132. General Balance Sheet, June' 30, 1902.— Capital stock ($100 shares), $1,000,000;. current liabilities, $348,182 — total, $1,348,182. Contra: Cost of road and equipment.. $1,193,408; materials, etc., $13,556,- cash and current assets, $34,292; profit and lossv, $106,926— total, $1,348,182. Directors.— Robert W. Blair, N. H. Loomis, Topeka, Kan. ; H. M. Engelman, Learen- worth, Kan.; Horace G. Burt, Omaha, Neb.; Otto H. Kahn, W. S. Pierce, New York, N. Y. ; E. H. Harriman, Arden, N. Y. OFFICERS: HORACE G. BTJRT, Pres., Omaha, Neb.; POOR'S MAS'ttAL OF RAILROADS. 619 Wm. D. Cornish, Vice-Pres.; F. V. S. Crosby, Treas.; Alex. Millar, Sec.; Wm. Mahl, Compt., New York, N. Y.; H. M. Engelman, Aud., Leavenworth, Kan. GENERAL OFFICE, Leavenworth, Kan. AND CENTERVILLE BY. — Albia to Centerville, la., 24.44 m. ; total track (steel 2448 m.), 27.56 miles. Gauge, 4 ft. 8J in. Rail, 56 and 60 Ibs. Reorganization, April 1, 1890,' of the Centerville! Moravia and Albia RR. Co. The company owns no equipment. The Iowa Central Ry. Co. runs two trains through from Oskaloosa via Albia to Centerville and return, sup- plying everything, including train and engine crews, at a fixed price per mile. Operations, year ending June 30, 1902. — Trains run (passenger, 8,518; freight, 7,794; mixed, 15078- other, 3,860), 35,250 miles. Passengers carried, 21,554; carried one mile, 434,198. Tons freight moved, 117,656; ton-miles, 2,222,923. Earnings (passenger, $8,267; freight, $25,288; other $1,562), $35,117; other receipts, $9,100 — total, $44,217. Operating expenses, $59,954; taxes, $1,892; other payments, $20 — total, $61,866. Deficit, $17,649; deficit forward, $3,844 — total, $21,493. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $400,000; current liabilities, $32,370 — total, $432,370. Contra : Cost of road, $400,000 ; cash and current assets, $10,- 877 ; profit and loss, $21,493 — total, $432,370. Directors. — F. M. Drake, Centerville, la. ; Russell Sage, C. W. Osborne, E. C. Osborne, J. J. Slocum, New York, N. Y. OFFICERS : F. M. DRAKE, Pres., Centerville, la. ; Russell Sage, Vice- Pres. <& Treas.; J. J. Slocum, Sec., New York, N. Y. GENERAL OFFICE, Minneapolis, Minn. AMES AND COLLEGE BY. — Ames to College, la., 1.98 m. ; total track (steel), 2.06 miles. Locomotives, 2. Cars (passenger, 1; combination, 1), 2. Operations, year ending June 30, 1902. — Earnings (passenger, $5,824; freight, $3,300), $9.124. Operating expenses, $6,045. Net earnings, $3,079. Payments : Taxes, $303 ; dividends (3 p. c.), $600; other charges, $1,000 — total, $1,903. Surplus, $1,176. General Balance Sheet, June 30, 1898 (latest rendered). — Capital stock, $20,000; profit and loss, $5,519 — total, $25,519. Contra: Cost of road, $24,321; cash and other assets, $1,198 — total, $25,519. Directors. — W. M. Greeley, E. W. Stanton, M. K. Smith, H. Westerman, C. P. Curtis, Herman Knapp, Ames, la. ; G. H. Prance, Des Moines, la. OFFICERS : W. M. GREELEY, Pres. ; E. W. Stan- ton. Vice-Pres.; M. K. Smith, Sec. & Gen. Mgr.; H. Westerman, Treas., Ames, la. GENERAL OFFICE, Ames, la. BISMARCK, WASHBUBN AND GBEAT FALLS BY. — Bismarck to Washburn, N. D., 46.3 m. ; Wilton to Chapin, 1.6 m. ; total track (steel; 56 Ibs.), 49.55 miles. Gauge, 4 ft. 84 in. Chartered as Bismarck, Washburn and Fort Buford Ry. Co., May 13, 1899 ; present name adopted Jan. 10, 1900. Road opened, Bismarck to Wilton, 27.2 m., on July 17, 1900 ; extended to Wash- burn, N. D., 17.9 miles, during 1902. A further extension to Great Falls, Mont., is projected. Lo- comotives, 3. Cars — combination, 2; freight (box, 11; flat, 2; refrigerator, 2; coal, 22), 37; other, 2 — total, 41. Also 2 steamboats, 1 ferryboat and 2 barges. Operations, year ending June 30, 1902. — Trains run (passenger, 6,801; mixed, 27,204), 34,- 005 miles. Passengers carried, 10,471 ; carried one mile, 326,530. Tons freight moved, 59,135 ; ton-miles, 2,306,259. Earnings (passenger, $12,163; freight, $60,733; other, $6,766), $79,662. Operating expenses, $52,696. Net earnings, $26,966. Payments : Interest on bonds, $25,500 ; taxes, $1,256 ; other charges, $3,962 — total, $30,718. Deficit for year, $3,751. Surplus forward, $2,712. Net deficit, $1,039. General Balance Sheet, June 30, 1902. — Capital stock ($500,000 auth. ; $100 shares), $160,000 ; loan, $425,000 ; current liabilities, $35,546 ; W. D. Washburn, loan, due, $31,524 — total, $652,070. Contra : Cost of road and equipment, $615,660 ; securities owned, $3,813 ; mate- rials, etc., $19,920 ; cash and current assets, $11,638 ; profit and loss, $1,039 — total, $652,070. Provision has been made for an issue of 1st mtge. 5 p. c. 30-yr. $1,000 gold bonds, due Jan. 1, 1930, to the amount of $7,000,000, of which $600,000 are issuable on the mileage already com- pleted, and the balance at the rate of $12,000 per mile for additional mileage. Trustee : Central Trust Co., New York, N. Y. The M., St. P. & S. S. M. Ry. Co. holds this company's notes for $560,000, bearing 5 p. c. interest and payable May 1, 1934. These notes are secured by deposit of 1st mtge. bonds. Directors. — W. D. Washburn, Henry L. Little, C. M. Amsden, Minneapolis, Minn. ; Clarence B. Little, Bismarck, N. D. ; F. D. Underwood, New York, N. Y. OFFICERS : W. D. WASHBURN, Pres., Minneapolis, Minn. ; F. D. Underwood, Vice-Pres., New York, N. Y. ; C. C. Crane, Sec. & Treas., Minneapolis, Minn. ; P. Eckels, Supt.; J. J. Jones, Aud., Bismarck, N. D. GENERAL OFFICE, Bismarck, N. D. COLFAX NORTHERN RR. — Coif ax to Valeria, la., 7 m. ; total track (steel; 60 Ibs.), 8 miles. Gauge, 4 ft. 8J in. Organized April 6, 1901, and purchased the Iowa Northern Ry. Co. (see MANUAL for 1901, page 603). Locomotives, 2. Cars — passenger, 1; freight, 1 — total, 2. Operations, year ending June 30, 1902. — Passengers carried, 6,153 ; carried one mile, 34,218. Tons freight moved, 91,398; ton-miles, 548,388. Earnings (passenger, $1,817; freight, $19,941; other, $79), $21,837. Operating expenses, $10,959. Net earnings, $10,878. Payments: Interest on bonds, $2,875 ; other interest, $441 ; taxes, $228 ; permanent improvements, $32,280 — total, $35,824. Deficit for year, $24,946. Financial Statement, June 30, 1902. — Capital stock ($120,000 auth.; $100 shares), $60,- 000; funded debt (1st 5s of April 1, 1921), $60,000 — total stock and bonds, $120,000. Contra: Cost of road and equipment, $142,280. Directors. — T. N. Hooper, Jr., Leland Windsor, Des Moines, la. ; Geo. D. Wood, M. B. Wheelock, Frank B. Hooper, Coif ax, la. OFFICERS : T. N. HOOPER, JR., Pres. ; Leland Windsor, Vice-Pres., Des Moines, la. ; Frank B. Hooper, Sec. & Treas., Colfax, la. GENERAL OFFICE, Col- fax, la. CROOKED CREEK RR. (AND COAL).— Lehigh to Webster City, la., 17.61 m. ; total track (steel, 20.70 m.), 20.89 miles. Gauge, 4 ft. 8J in. Rail (steel), 50 to 60 Ibs. Chartered Nov. 8, 1875 ; road opened Nov. 15, 1875. Webster City and Southwestern RR., Border Plains to Webster City, la., 13.37 m., purchased in 1892. Locomotives, 2. Freight cars (box, 1; coal, 31), 32 ; caboose, 1 — total, 33. 620 POOR S MANUAL OF RAILROADS — NORTHWESTERN GR61TP. Operations, year ending June 30, 1902. — Railroad Department : Tons freight moved, 39,658. Earnings (passenger, $1,984; freight, $24,531; other, $989), $27,504. Operating expenses, $19,- 370. Net earnings, $8,134. Paid taxes, $1,663. Surplus for year, $6,471. General Balance Sheet. June 30, 1901 (latest rendered). — Capital stock ($500,000 auth. ; $100 shares), $225,000; current liabilities, $1,403; profit and loss, $106,382 — total, $332,785. Contra : Cost of road and equipment, $213,952 ; lands and mine property, $110,000 ; other invest- ments, $5,883 ; cash and current assets, $2,950 — total, $332,785. Directors (elected Sept. 16, 1902). — Jacob M. Funk, F. K. Willson, George E. Burnham, Web- ster City, la.; F. Paul Stone, Oconomowoc, Wis. ; John Q. Burnham, C. T. Burnham, A. K. Hamil- ton, Milwaukee, Wis. OFFICERS : JACOB M. FUNK, Pres., Webster City, la. ; John Q. Burnham, Vice-Pres., Milwaukee, Wis.; F. E. Willson, Sec. & Ocn. Mgr.; George E. Burnham, Treas. & Asst. Gen. Mgr., Webster City, la. ; W. H. Whiteford, Aud., Lehigh, la. GENERAL OFFICE, Webster City, la. DAKOTA PACIFIC KB.— Projected : Rapid City to Mystic, S. D., 32 m. ; Mystic, S. D., to Skull Creek, Wyo., 50 m. ; Rapid City to Chamberlain, S. D., 215 m. ; Pactola to Keystone, 14 m. ; Big Bend to Hat Mountain, 3 m. — total, 314 miles. Completed up to July 1, 1902 : Rapid City to Iron Creek, 10 miles. Gauge, 4 ft. 8J in. Rail (steel), 65 Ibs. Locomotive, 1. Cars (freight), 26. Chartered Oct., 1897, and absorbed the Dakota, Wyoming and Missouri River RR. (See MANUAL for 1898, page 250.) Grading is practically completed from Iron Creek to Mystic, 22 miles, but up to July 1, 1902, no rails had been laid on that section. Financial Statement, July 1, 1902. — Capital stock authorized ($100 shares), $20,000 per mile. Funded debt, $650,000 1st mtge. 5s of May 15, 1929. Cost of road, etc., to date, $508,000. Estimated cost of entire road, including bridge over the Missouri River at Chamberlain, $7,500,000. Directors. — J. H. Muhlke, F. O. Murdock, Chicago, 111. ; C. D. Matteson, J. B. Henry, Wm. T. Coad, Rapid City, So. Dak. OFFICERS : WM. T. COAD, Pres. & Gen. Mgr., Rapid City, So. Dak. ; J. H. Muhlke, Vice-Pres.; F. D. Gray, Treas.; F. O. Murdock, Sec., Chicago, 111. GENERAL OFFICE, Rapid City, So. Dak. DES MOINES UNION RY. — In Des Moines, la., 4 m. ; total track (steel; 66, 68, and 75 Ibs.), 18 miles. Gauge, 4 ft. 8J in. Chartered Jan. 7, 1886; road opened Jan., 1886. Locomotives, 3. A terminal road, operated for the benefit of its owners. Has no income. The companies using the terminals (Wabash RR. Co., Chicago Great Western Ry. Co., and Chicago, Milwaukee and St. Paul Ry. Co.) are charged for actual cost of operating and for interest on bonds. Operating ex- perses, year ending June 30, 1902, $161,376; interest on bonds, $33,550; on debt, $1,200; taxes, $13,639 — total, $209,765. General Balance Sheet, June 30, 1902. — Capital stock paid in ($2,000,000 auth.; $100 shares), $400,000; funded debt (1st 5s of Nov. 1, 1917), $671,000; current liabilities, $76,166 — total, $1,147,166. Contra: Cost of road and equipment, $1,091,000; materials, etc., $23,472 ; cash and current assets, $32,694 — total, $1,147,166. Directors. — F. C. Hubbell, F. M. Hubbell, H. D. Thompson, Cyrus Kirk, C. Huttenlocher, Des Moines, la. ; Joseph Ramsey, Jr., St. Louis, Mo. ; A. J. Earling, H. R. Williams, Chicago, 111. OFFICERS : F. C. HUBBELL, Pres. & Purch. Agt. ; H. D. Thompson, Vice-Pres. & Treas. ; F. M. Hub- bell, Sec.; E. G. Mitchell, Aud., Des Moines, la. GENERAL OFFICE, Des Moines, la. DES MOINES, IOWA FALLS AND NORTHERN RY. — Iowa Falls to Des Moines, la., 75.0 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Chartered in 1901, road opened Jan., 1903. There are three coal fields on the line, and upon all of them shafts will be put down at once. Loco- motives, 7. Cars — passenger, 3; combination, 4; freight (flat, 30; gondola, 40), 70; service, 5 — total, 85. Financial Statement. — Capital stock ($100 shares), $1,200,000. Funded debt, $1,030,000 (auth., $14,000 per mile, with an addition of $50,000 for terminals at Des Moines) 1st gold 5s of July 1, 1931, interest Jan. and July, at the office of the trustee, Colonial Trust Co., New York, N. Y. Cost of road to date, $1,199,870. Directors (elected Dec. 10, 1902). — E. S. Ellsworth, W. H. Courtney, W. H. Woods, J. H. Funk, M. W. Hill, H. B. Hall, H. C. Miller, L. E. Jones, Wm. Welden, W. V. Shipley, C. E. Shaw, .J. L. Farrlngton, Z. K. Hoag, J. M. Rhinehart, Iowa Falls, la. OFFICERS : E. S. ELLSWORTH, Pres. ; William Welden, Vice-Pres.; W. H. Woods, Treas.; J. H. Funk, Sec.; W. V. Shipley, Aud., Iowa Falls, la. GENERAL OFFICE, Iowa Falls, la. DULTJTH AND NORTHERN MINNESOTA RR. — Knife River, Minn., northeast, 46 m. — total track, 48 miles. Gauge, 4 ft. 8J in. Steel rail, weight not reported. Chartered May 31, 1898 ; road completed as above, June 30, 1901. Connects with the Duluth and Iron Range RR. Locomotives, 6. Cars — box, 1 ; flat, 28 ; logging, 180 — total, 209. Operations, year ending June 30, 1902. — Trains run (freight), 43,584 miles. Passengers carried, 2,952 ; carried one mile, 135,792. Tons freight moved, 406,085 ; ton-miles, 6,091,275. Earnings (passenger, $1,328 ; freight, $126,832 ; other, $30), $128,190. Operating expenses, $70,- 644. Net earnings, $57,546. Payments: Taxes, $1,422; dividends (10 p. c.), $20,000 — total, $21,422. Surplus, $36,124 ; surplus forward, $101,173 — total, $137,297. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $200,000; current liabilities, $299,258 ; profit and loss, $137,297 — total, $636,555. Contra : Cost of road and equip- ment, $499,258 ; cash on hand, $137,297 — total, $636,555. Directors. — R. A. Alger, James C. McCaul, R. A. Alger, Jr., Detroit, Mich.; John Millen, Ralph N. Marble, Duluth, Minn.; B. W. Arnold, Albany, N. Y. OFFICERS: R. A. ALGER, Pres.. Detroit, Mich. ; John Millen, Vice-Pres. & Gen. Mgr., Duluth, Minn.; R. A. Alger, Jr., Treas.; Jas. C. McCaul, Sec., Detroit, Mich. GENERAL OFFICE, Duluth, Minn. DT7LTJTH, VIRGINIA AND RAINY LAKE RY.— Projected : Virginia to Koochiching, Minn., 97 miles, with various logging branches. Completed to July 31, 1902 ; Virginia to Taber, Minn., 20 miles. Gauge, 4 ft. 8J in. Rail (steel), 50 Ibs. Locomotives, 5. Cars — passenger, 1; freight, 52 ; other, 1 — total, 54. Chartered in 1901 ; road under construction. Built primarily to reach a large tract of pine land in St. Louis County, Minn. Will connect the Iron Range railroads of Minnesota with the Canadian Northern Ry. at Rainy Lake and with steamships plying on Lake of the Woods to points in Manitoba and the Canadian Northwest. Financial Statement. — Capital stock authorized ($100 shares: amount paid in, not re- ported), $2,000,000. Funded debt, $225,000 ($2,000,000 auth.) 1st mtge. 5 p. c. 20-yr. gold bonds, due 1922, interest March and Sept., at the 1st National Bank, Duluth, Minn. Trustee: Minnesota Loan and Trust Co., St. Paul, Minn. Cost of road to date, $425,000. Directors. — W. H. Cook, Henry Turrish, F. W. Heimick, M. S. Cook, W. D. Bailey, Dulutb, POOR'S MANUAL OF RAILROADS. 621 Minn. OFFICERS : W. H. COOK, Pres. ; Henry Turrish, Vice-Pres. ; W. D. Bailey, Treas. ; F. W. Heimick, Sec., Duluth, Minn. ; R. A. Eva, Gen. Mgr., Virginia, Minn. ; M. S. Cook, Chief Eng., Duluth, Minn. GENERAL OFFICE, Duluth, Minn. ELLISTON AND SOUTHERN BB. — Projected: Elliston, Mont., to Peerless Mine, 15 miles. Completed near Elliston, 7 miles. Gauge, 4 ft. 8i in. Rail (steel), 56 Ibs. Chartered Feb. 25, 1896, and acquired the right and title to 6 m. of track built in 1892 for transporting mining timber and wood to the main line of the Northern Pacific Ry. The road is intended to supply a con- nection between the Red Mountain mining district and the Blackfoot River. There are ten mines along the line of the proposed road. The company owns 1 locomotive ; the N. P. Ry. Co. supplies the necessary cars. Financial Statement. — Capital stock authorized, $100,000 ; subscribed and paid up, $20,000. Cost of road, etc., exclusive of metal leased from the N. P. Ry. Co., $20,000. Directors. — W. B. Edgar, W. H. Cameron, Elliston, Mont. ; C. Hedges, Geo. F. Cope, F. L. Sizer, Helena, Mont. OFFICERS : W. B. EDGAR, Pres. & Gen. Mgr., Elliston, Mont. ; D. G. Bar- ringer, Vice-Pres., St. Paul, Minn. ; Allen McNaughton, Sec. & Treas., Elliston, Mont. GENERAL OFFICE, Elliston, Mont. FARMERS' GRAIN AND SHIPPING CO.'S BB.— Devil's Lake to Stark- weather, N. D., 24.5 m. ; total track (steel; 56 Ibs.), 29 miles. Gauge, 4 ft. 81 in. Chartered Oct. 16, 1902 ; road opened Sept. 16, 1902. Owns 1 locomotive, 1 passenger and 12 box cars. Other cars furnished by Great Northern Ry. Co. as required. Operations, period Sept. 16, 1902, to April 1, 1903. — Gross earnings, $21,069. Operating ex- penses, $5,429. Net earnings, $15,640. General Balance Sheet, April 1, 1903. — Capital stock ($200,000 auth. ; $25 shares), $113.- 300 ; current liabilities, $103,424 — total, $216,724. Cost of road and equipment, $206,080 ; ma- terials, etc., $3,906 ; cash and current assets, $6,738 — total, $216,724. An issue of 5 p. c. bonds to the amount of $104,000 has been authorized, but none has been issued up to May 10, 1903. Directors. — Joseph Kelly, Garske, N. D. ; Rasmus Sorenson, William Webster, Fred. Baker, W. G. Samuel, Norman Morrison, Webster, N. D. ; J. A. G. Dahlen, lola, N. D. ; John W. Maher. Devil's Lake, N. D. OFFICERS : JOSEPH KELLY, Pres., Garske, N. D. ; Rasmus Sorenson, Vice Pres., Webster, N. D. ; John W. Maher, Sec. & Treas., Devil's Lake, N. D. GENERAL OFFICE, Devil's Lake, N. D. KEOKUK AND HAMILTON BBIDO-E CO. — Consolidation of the Hancock County and the Keokuk and Hamilton Mississippi River Bridge Cos. Owns a bridge at Keokuk, la., which is 1 used for railroad purposes by the Toledo, Peoria and Western and the Wabash RR. Cos., and is also used by wagons and foot passengers. For particulars regarding the contract of Jan. 19, 1869, by which the Pittsburgh, Chicago and St. Louis Ry. Co. and the Pennsylvania RR. Co. agree to pay one- fourth of any deficiency of net revenue in meeting interest charges, see MANUALS for 1889 and 1893. Capital stock, $1,000,000. Funded debt, $1,000,000 1st mtge. 8 p. c. bonds, due April 1, 1899. Operations, year ending June 30, 1902. — Earnings (passenger, $5,128; freight, $15,198; other, $13,790), $34,116. Operating expenses, $19,167. Net earnings, $14,949; other income. $26,853 — total, $41,802. Total deductions, $38,534. Surplus, $3,268. Directors. — Andrew Carnegie, Joseph J. Asch, James F. Secor, David Paton, Theodore F. Hicks. Matthias Nicoll, Theodore Gilman, W. S. Oilman, New York, N. Y. ; Henry E. Smith, Phila- delphia, Pa. OFFICERS : ANDREW CARNEGIE, Pres. ; Theodore Gilman, Sec. & Treas., 62 Cedar St., New York, N. Y. GENERAL OFFICE, 55 William St., New York, N. Y. MANCHESTER AND ONEIDA BY. — Manchester to Oneida, la., 8.5 m. ; total track, 10 miles. Gauge, 4 ft. 81 in. Road opened Aug. 8, 1901. Locomotive, 1. Passenger car, 1. Operations, period ending June 30, 1902. — Earnings (passenger, $5,001; freight, $8,158; other, $906), $14,065. Operating expenses, $10,047. Net earnings, $4,018. Paid interest on bonds, $3,250. Surplus, $768. Financial Statement, Jan. 1, 1903. — Capital stock ($100 shares), $65,000. Indebted- ness consists of notes to Manchester Construction Co., maturing at various dates and aggregating, with interest, $65,000. Cost of road and equipment, $72,000. Directors. — A. S. Blair, E. M. Carr, B. W. Jewell, Albert Hollister, Joseph Hutchinson, M. F. Le Roy, R. R. Robinson, C. A. Peterson, Wm. Hockaday, W. N. Wolcott, H. C. Haeberle, C. J. Seeds, A. A. Morse, E. H. Hoyt, W. L. Drew, W. A. Abbott, Manchester, la. OFFICERS : ALBERT HOLLIS- TER, Pres. ; M. F. Le Roy, Vice-Pres. ; H. C. Haeberle, Sec.; Chas. J. Seeds, Treas.; Joseph Hutch- inson, Aud., Manchester, la. GENERAL OFFICE, Manchester, la. MESABE SOUTHERN BY. — St. Louis River to Erwin, Minn., 31 m. ; Haywire June, to Klondike, Minn., 4 m. ; Section House 2 to Dorsey, Minn., 3 m. — total, 38 m. ; total track (steel ; 56 Ibs.), 41 miles. Gauge, 4 ft. 81 in. Chartered Oct. 2, 1895; first portion of road opened Nov., 1895. Owned by the Northern Lumber Co. and operated exclusuely for that company's business. Locomotives, 6. Cars (flat, 120; service, 1), 121. Directors. — F. Weyerhaeuser, F. E. Weyerhaeuser, St. Paul, Minn. ; R. M. Weyerhaeuser, F. B. Poole, Cloquet, Minn. ; E. Rutledge, Chippewa Falls, Wis. OFFICERS : F. WEYERHAEUSER, Pres., St. Paul, Minn. ; Wm. Irvine, Vice-Pres., Chippewa Falls, Wis. ; F. B. Poole, Sec., Cloquet, Minn. ; F. E. Weyerhaeuser, Treas., St. Paul, Minn. GENERAL OFFICE, Cloquet, Minn. MINNEAPOLIS EASTEBN BY.— At Minneapolis, Minn., 2.94 miles. Rail (steel), 60 Ibs. Gauge, 4 ft. 81 in. Chartered in 1878 ; road opened June 1, 1879. Owned jointly by the Chi- cago, Milwaukee and St. Paul and the Chicago, St. Paul, Minneapolis and Omaha Ry. Cos. The road is used merely for switching business, and its stock is held by the companies named. Locomo- tives, 3. Operations, year ending June 30, 1902. — Earnings, $65,079. Operating expenses, $37,736. Net earnings, $27,343. Payments : Interest on bonds, $10,500 ; taxes, $2,050 — total, $12,550 Surplus, $14,793 ; surplus forward, $69,525 — total, $84,318. General Balance Sheet, June 30, 1902. — Capital stock ($1,000,000 auth.; $100 shares), $30,000; funded debt (1st 7s of Jan. 1, 1909), $150,000; current liabilities, $20,667; profit and loss, $84,318 — total, $284,985. Contra : Cost of road and equipment, $277,131 ; materials, etc., $3,366 ; cash and current assets, $4,488 — total, $284,985. Directors. — F. A. Chamberlain, W. H. Norris, E. D. Sewall, Minneapolis, Minn. ; James T. Clark, E. E. Woodman, Thomas Wilson, W. A. Scott, St. Paul, Minn. ; A. J. Earling, H. R. Williams, Chicago, 111. OFFICERS : F. A. CHAMBERLAIN, Pres., Minneapolis, Minn. ; A. J. Earling, Vice-Prei., Chicago, 111. ; E. D. Sewall, Sec. & Treas., Minneapolis, Minn. ; L. A. Robinson, Aud., St. Paul, Minn. 622 POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP. MANAGING COMMITTEE : W. A. Scott, St. Paul, Minn. ; E. D. Sewall, Minneapolis, Minn. GENERAL OFFICE, Minneapolis, Minn. MINNEAPOLIS, ST. PAUL AND ASHLAND BY. —Projected : Ashland, Wie.. to Chequemegon Junction, Wis., 24 m. ; Ashland, Wis., to Minneapolis, Minn., 190 m. ; Bardon to Ole Oleson, Wis., 16 m. ; Bardon to Superior, Wis., 65 miles. Completed up to March 1, 1903 ; Ash- land to Chequemegon, Wis., 24 m. ; Bardon June, to Leonard, Wis., 25 m. — total, 49 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. The first section of 25 miles was completed in Jan., 1897 ; short extensions are built each year. The company owns 6 locomotives, 2 combination cars, 182 freight cars, and 4 logging cars. Financial Statement. — Capital stock authorized, $10,000 per mile; shares, $25 each. Funded debt authorized, $16,000 per mile in 5 p. c. $1,000 gold bonds. Cost of road and equipment, $26,000 per mile. Directors. — J. W. Cochran, S. S. Fifleld, Thomas Bardon, H. A. Cook, John Dunlavey, Ash- land, Wis. ; R. L. McCormick, Hayward, Wis. ; S. G. Cook, J. S. Porteous, Minneapolis, Minn. ; E. L. Alnsworth, Chippewa Falls, Wis. OFFICERS : S. G. COOK, Pres., Minneapolis, Minn. ; Thomas Bardon, Vice-Pres., Ashland, Wis. ; J. S. Porteous, Sec. & Treas., Minneapolis, Minn. ; John Dun- lavey, Sv.pt., Ashland, Wis. GENERAL OFFICE, Minneapolis, Minn. MINNESOTA AND NORTH WISCONSIN BB. (THE).— Nlckerson to Bemad jl River. Minn., 15 m. ; Scanlon to Bolin, Minn., 36.9 m. ; Bolin to Carolan, Minn., 6.2 m. ; leased (Delong and Chamberlain RR.), Pocket Lake to Nickerson, Minn., 1.20 m. — total operated, 59.30 miles. Gauge, 4 ft. 8J in. Rail (steel), 48 and 56 Ibs. Chartered Jan. 12, 1898 ; road opened from Nick- erson to Lake Graham, 10 miles, in the spring of 1899 ; extension to Bemadji River and branches to Bolin and Carolan, a total of 48.1 miles, opened In 1901-02. Locomotives (leased, 1), 9. Cars — freight (box, 10; flat, 199), 209; caboose, 4 — total, 213. Operations, year ending June 30, 1902. — Tons freight moved, 284,222 ; ton-miles, 3,789,637. Earnings (passenger, $218; freight, $39,504; other, $3,915), $43,637. Operating expenses, $37,- 634. Net earnings, $6,003. Payments : Interest on bonds, $3,750 ; Interest on floating debt, $8,925 ; taxes, $151 ; rentals, $480 — total, $13,306. Deficit, $7,303 ; surplus forward, $1,772 — net deficit, $5,581. General Balance Sheet* June 30, 1902. — Capital stock ($350,000 auth. ; $100 shares), $10,- OQO; funded debt (see below), $150,000; current liabilities, $393,227 — total, $553,227. Contra: Cost of road and equipment, $547,646 ; profit and loss, $5,581 — total, $553,227. Funded Debt consists of 5 p. e. bonds, authorized to the amount of $200,000, dated Jan. 1, 1902, maturing $30,000 each 1st of Jan. from 1903 to 1907, and $50,000 on Jan. 1, 1908. Directors. — D. F. Brooks, St. Paul, Minn. ; M. J. Scanlon, L. R. Brooks, H. E. Gipson, H. K. Brooks, Anson S. Brooks, P. R. Brooks, Minneapolis, Minn. OFFICERS: D. F. BROOKS, Pres.; M. J. Scanlon, Vice-Pres.; A. S. Brooks, 2d Vice-Pres.; L. R. Brooks, Treas.; H. E. Gipson, Sec., Minneapolis, Minn. GENERAL OFFICE, Minneapolis, Minn. MINNESOTA TRANSFER BY.— At St. Paul and Minneapolis. Minn., about 56 mile?. This company was chartered on March 10, 1883, to facilitate the transfers of freight between the owners. These now are the St. Paul, Minneapolis and Manitoba, the Northern Pacific, the Chicago, Milwaukee and St. Paul, the Chicago, St. Paul, Minneapolis and Omaha, the Minneapolis and St. Louis, the Chicago Great Western, the Wisconsin Central, the Chicago, Burlington and Quincy, and the Minneapolis, St. Paul and Sault Ste. Marie Cos. All through freight coming over any of the lines named, and destined for another, goes to this general transfer, the companies having an agree- ment for that purpose. Stock yard facilities also form a part of the equipment. In Aug., 1898, the company purchased the New Brighton Stock Yards, at St. Paul, and subsequently acquired the Minnesota Belt Line Ry. and Transfer Co. Financial Statement, June 30, 1902. — Capital stock ($300,000 auth.; $100 shares), sub- scribed and paid up, $63,000; funded debt (1st mtge. 4s and 5s of Aug. 1, 1916), $1,385,000 ; other liabilities, $22,934 — total, representing cost of road and equipment to date, $1,470,934. Directors. — W. J. Underwood, W. A. Scott, Thos. Cooper, S. C. Stickney, J. M. Gruber, St Paul, Minn. ; L. F. Day, E. Pennington, Minneapolis, Minn. ; H. F. Whitcomb, Milwaukee, Wis. ; G. P. Lyman, Chicago, 111. OFFICERS: J. M. GRUBER, Pres.; C. S. Stickney, Vice-Pres.; H. P. Upham, Treas.; L. A. Robinson, Sec. & Aud.; W. H. Norris, Solicitor; M. J. Dooley, Su-pt., St. Paul, Minn. GENERAL OFFICE, St. Paul, Minn. MONTANA BB. — Lombard to Harlowton, Mont., 94 m. ; Summit to Leadboro, Mont., 6 m. ; total track (steel; 56 Ibs.), 105 miles. Gauge, 4 ft. 81 In. Chartered Sept. 1, 1894, and acquired the property of the Montana Midland RR. Co., including about 18 miles of graded roadbed. The road was opened from Lombard to Leadboro, 56 miles, Aug. 1, 1897, and the extension from Summit to Harlowton, 44 miles, on June 20, 1900. The company has a traffic contract with the Northern Pacific Ry. Co., running 99 years from March 1, 1900. Locomotives (leased, 1), 3. Cars — com- bination, 1; service (leased, 5). 6 — total, 7. Operations, year ending June 30, 1902. — Earnings (passenger, $26,966; freight, $88,493; other, $8,106), $123,565. Operating expenses, $90,834. Net earnings, $32,731; other receipts, $489 — total, $33,220. Payments : Interest on bonds, $48,675 ; other interest, $27,018 ; taxes, $2,979 ; other charges, $316 — total, $78,988. Deficit, $45,768 ; surplus forward, $3,587. Net deficit, $42,181. General Balance Sheet, June 30, 1902. — Capital stock ($3,500,000 auth.; $100 shares), $1,575,500; funded debt (1st gold 5s of July 1, 1930), $2,000,000; bills payable, $378,771; current liabilities, $390,317 ; interest accrued, $16,225 ; profit on bonds, $638,649 — total, $4,999,462. Contra : Cost of road and equipment, $3,583,360 ; bonds owned, $1,351,000 ; materials, etc., $5,303 : cash and current assets, $17,618 ; profit and loss, $42,181 — total, $4,999,462. Funded Debt. — Under a provision in the mortgage, the traffic contract with the Northern Pa- cific Ry. Co. and the rights of the owners of the Northern Pacific Ry. under that contract, are prior to the rights of the bondholders under the mortgage. Directors. — H. D. Moore, J. P. Whitney, Philadelphia, Pa. ; Richard A. Harlow, Milton S. Gunn, Wm. J. Fuchs, J. K. Scott, F. W. Sharpe, Helena, Mont OFFICERS : H. D. MOORE, Pres., Philadelphia, Pa.; Richard A. Harlow, Vice-Pres.; W. J. Fuchs, Sec.; F. W. Sharpe, Treas.; Robert Rantoul, Gen, Mgr., Helena, Mont. GENERAL OFFICE, Helena, Mont. MUSCATINE NOBTH AND SOUTH BB. — Muscatine to Elrick June., la., 28.67 m. ; total track (steel ; 60 Ibs.), 31.62 miles. Gauge, 4 ft. 8J in. Chartered in Jan., 1893; road opened Jan. 20, 1899. Receiver appointed early In 1903. Locomotives, 3. Cars (passenger), 2. Operations, year ending June 30, 1902. — Trains run (mixed), 40,710 miles. Passenger? POOR'S MANUAL OP RAILROADS. 623 carried, 14,041 ; carried one mile, 210,137. Tons freight moved, 86,419 ; ton-miles, 2,479,633. Earnings (passenger, $6,466; freight, $41,236; other, $908), $48,610. Operating expenses, $45,- 636. Net earnings, $2,974. Payments : Interest on bonds, $22,500 ; taxes, $2,648 — total, $25,148. Deficit, $22,174. General Balance Sheet, June 30, 1899 (latest rendered). — Capital stock ($100 shares), $450,000; funded debt (1st gold 5s of Jan. 1, 1929), $450,000; bills payable, $4,653; current lia- bilities, $12,859; other liabilities, $12,450 — total, $929,962. Contra: Cost of road and equip- ment, $900,000 ; materials, etc., $1,367 ; cash and current assets, $13,861 ; profit and loss, $14,734 — total, $929,962. Directors. — H. F. Balch, M. J. Peppard, J. A. Nelson, Minneapolis, Minn. ; Walter M. Gor- ham, Philadelphia, Pa. ; Henry Jayne, P. M. Musser, Muscatine, la. ; Geo. A. Seevers, Oskaloosa, la. OFFICERS : CHARLES HOWARD, Rec., Muscatine, la. ; WALTER M. GORHAM, Pres., Philadelphia, Pa. ; H. F. Balch, Vice-Pres., Minneapolis, Minn.; Henry Jayne, Sec. & Treas.; Chas. Howard, O«n. Mgr.; George Reeder, Aud.. Muscatine, la. GENERAL OFFICE, Muscatine, la. NEWTON AND NORTHWESTERN RR.— Under construction : Newton to Rockwell City, la., 102 miles. In operation March 31, 1903 : Fraser to Gowrie, la., 22 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. Consolidation, Oct. 8, 1902, of the Boone, Rockwell City and Northwestern Ry. Co. (see MANUAL for 1902, page 571), the Boone Valley Coal and Ry. Co., and the Boone Coal and Mining Co. The extensions to Newton and to Rockwell City are under construction, and will be completed during the current year. They will be laid with 70-lb. steel rails. The road connects at present with the Chicago and Northwestern Ry., Chicago, Rock Island and Pacific RR., and Minneapolis and St. Louis RR. ; connections will be made with the Chicago, Milwaukee and St. Paul Ry., Illinois Central RR., Chicago Great Western RR. and Iowa Central RR. The company owns two large bituminous coal properties, which have been profitable producers for years, and which are fully equipped with modern machinery. The output from the mines at present is about 400 tons a day, but this will be increased to upwards of 1,500 tons a day during the current year. The present equipment consists of 5 locomotives, 1 passenger car and 15 freight cars ; this will be largely increased upon the completion of the road. Operations, six months ending March 31, 1903 (22 miles). — Gross earnings, $139,161. Operating expenses, $90,883. Net earnings (34.69 p. c.), $48,277. Financial Statement, March 31, 1903. — Capital stock authorized and issued ($2,000,000 common; $500,000 6 p. C. non-cumulative preferred), $2,500,000. Funded debt: $1,011,000 ($2,500,000 authorized) 1st mtge. 5 p. c. 30-yr. $1,000 gold coupon bonds, with privilege of registration as to principal, due Oct. 1, 1932, interest April and Oct., at office of trustee, Old Colony Trust Co., Boston, Mass. The entire issue may be redeemed on any interest day at 110 p. c. and accrued interest. The mortgage covers all the property of the company, whether now owned or hereafter acquired, and is specifically secured on the railroad from Newton to Rockwell City, la., 102 miles ; on 1,798 acres of land and coal rights, together with equipment, machinery, etc., acquired from the Boone Valley Coal and Ry. Co., and on 1,420 acres of land and coal rights, together with equipment, machinery, etc., acquired from the Boone Coal and Mining Co. Of the $2,500,000 bonds authorized, $2,000,000 have been issued or will be issued to pay for the proper- ties acquired by the company and to meet the cost of extensions, equipment, etc. ; $200,000 are reserved for additions ami betterments, and $300,000 are reserved by the trustee for future requiremnts of the company. Directors. — H. W. Poor, New York, N. Y. ; C. Sidney Shepard, New Haven, N. Y. ; Hamilton Browne, Geneva, 111. ; W. A. Kelly, Fraser, la. ; S. T. Meservey, Fort Dodge, la. OFFICERS : HAMILTON BROWNE, Pres., Geneva, 111. ; S. T. Meservey, Vice-Pres., Fort Dodge, la. ; J. J. Wright, Treas., Chicago, 111.; W. A. Kelly, Sec.; Samuel McClure, Supt., Fraser, la.; N. D. Miller, Chief Eng., Boone, la. GENERAL OFFICE, Boone, la. OMAHA BRIDGE AND TERMINAL RY.— Council Bluffs, la., to Omaha, Nebr., 7.14 miles; total track (steel; 60 Ibs.), 22.46 miles. Gauge, 4 ft. 8J in. Double track steel railway bridge spanning the Missouri River between Nebraska and Iowa, together with a line of railway between Omaha and East Omaha, Nebr., and Council Bluffs, la., and South Omaha, Nebr. Also a large mileage of terminals and side tracks. The company was chartered Nov. 28, 1890, and the bridge and railway opened for traffic in January, 1894. It has connections, and does a transfer business, with all lines of railroad reaching Omaha, Council Bluffs and South Omaha. The company owns exclusive franchises over the territory of East Omaha, and has in contem- plation many additions and improvements. A lease has been made with the Illinois Central RR. Co. for its use of this company's bridge and terminals, for both freight and passenger business. The company has trackage rights over the Missouri Pacific Ry. from Sprague Station to South Omaha, 7.89 miles. Locomotives (3 leased), 5. Operations, year ending June 30, 1902. — Earnings (freight, $48,276.08; rentals, $50,000; miscellaneous, $5,087.64), $103.363.72. Operating expenses, $61,104.24. Net income, $42,259.48. Payments: Interest on bonds, $50,000; taxes, $7,372.78 — total, $57,372.78. Deficit, $15,113.30; deficit forward, $31,919.41 ; deductions during the year, $2,182.37 — total deficit, $49,215.08. General Balance Sheet, June 30, 1902. — Capital stock paid in ($7,500,000 auth. ; $100 shares), $5,000,000; funded debt (1st 5s of Feb. 1, 1943), $1,000,000; current liabilities, $64,488.91; other liabilities, $289,442.06 — total, $6,353,930.97. Contra: Cost of road, $6,264,- 977.96 ; equipment, $18,785.01 ; materials and supplies, $1,749.85 ; cash and other assets, $19;203.07 ; profit and loss, $94,215.08 — total, $6,353,930.97. Directors. — Stuyvesant Fish, J. C. Welling, J. T. Harahan, J. F. Wallace, Chicago, 111. ; John R. Webster, William Baird, J. H. Daniels, Omaha, Nebr. OFFICERS : STUYVESANT FISH, Pres.; J. T. Harahan, Vice-Pres., Chicago, 111.; John R. Webster, Gen. Mgr.; J. H. Daniels, Sec. & Treas., Omaha, Nebr. GENERAL OFFICE, Omaha, Nebr. RAILWAY TRANSFER CO. OF MINNEAPOLIS.— At Minneapolis, Minn.. 8.8 miles. Gauge, 4 ft. 8J in. Rail (steel), 60 Ibs. The property of this company is owned by the M. & St. L. RR. Co., and does a switching business with all railroads entering Minneapolis, and the flour mills and other industries in that city. The company has trackage rights over the two main tracks of the M. & St. L. RR. Co., from 1st St. North to 20th Ave. South, Minneapolis, Minn., aggre- gating 3!15 miles of single track, 80-lb. steel rail. Locomotives, 4. Operations, year ending June 30, 1902. — Earnings (switching), $151,998. Operating ex- penses, $70,841. Net earnings, $81,157 ; other receipts, $50 — total, $81,207. Paid rentals, $76,- 647 ; taxes, $4,560 — total, $81,207. Directors. — L. F. Day, A. E. Clarke, H. G. Kelley, F. Nay, Joseph Gaskell, Minneapolis, Minn. 6:21 POOR'S MANUAL OF RAILROADS — NORTHWESTERN GROUP. OFFICERS: A. E. CLARKE, Prea.; L. P. Day, Vice-Pres. & Gen. MOT.; Joseph Gaskell, Sec. & Trecu.; J. A. Moynlhan, Supt., Minneapolis, Minn. GENERAL OFFICE, Minneapolis, Minn. BED LAKE TRANSPORTATION CO.'S RR.— Red Lake to Nebish, Minn., 10 m. ; branches and spurs, 7 m. — total, 17 miles. Gauge, 4 ft. 8J in. Rail (steel), 35 Ibs. Chartered Dec. 9, 1897; road opened for business Jan. 1, 1899. Locomotives, 3. Cars — freight (flat), 1; caboose, 1 ; service, 43 — total, 45 Operations, year ending June 30, 1902. — Tons freight moved, 64,949 ; ton-miles, 649,490. Earnings (freight), $8,119. Operating expenses, $9,576. Deficit, $1,457. Financial Statement, June 30, 1902. — Capital stock paid in ($100,000 auth. ; $100 shares), $80,000. Contra : Cost of road and equipment, $67,787. Directors. — C. H. Richards, H. K. Halvorson, Wm. Lindeen, A. Knudson, C. F. Carlson, Minne- apolis, Minn. OFFICERS: C. H. RICHARDS, Pres. & Treos.; H. K. Halvorson, Vice-Pres. ; A. Knud- son, Sec., Minneapolis, Minn. GENERAL OFFICE, Minneapolis, Minn. ST. PAUL UNION DEPOT CO. (THE). — In St. Paul, Minn., 8.76 miles. The company uses 1,570 ft. of the St. Paul, Minn. & Man. Ry., under trackage rights. Gauge, 4 ft. 8J in. Rail (steel), 75 and 80 Ibs. Chartered March 5, 1879; road opened Aug. 22, 1881. All railroads enter- ing St. Paul use this depot. Locomotives, 2 ; baggage trucks, 59 ; push cars, 2. Operations, year ending Dec. 31, 1902. — Gross receipts (rentals, $163,082; miscellaneous, $26,106), $189,188. Operating expenses, $140,482. Net receipts, $48,706. Payments: Interest on bonds and construction advances, $34,338 ; dividends, $14,368 — total, $48,706. General Balance Sheet, Dec. 31. 1902. — Capital stock ($1,000,000 auth.; $100 shares), $393,750; funded debt ($250,000 1st 6s of 1930; $150,000 consol. 5s and $100,000 consol. 4s of 1944), $500,000; construction advances, $475,569; current liabilities, $5,954; interest accrued, $7,556; dividend accrued, $2,625 — total, $1,385,454. Contra: Cost of property, $1,383,674; cash and current assets, $1,780 — total, $1,385,454. General Balance Sheet, May 1, 1903. — Capital stock issued ($1,000,000 auth. ; $100 shares), $900,000; funded debt (see above), $500,000; current liabilities, $6,168; interest accrued, $3,850; dividend accrued, $1,312 — total, $1,411,330. Contra: Cost of property, $1,386,- 814 ; cash and current assets, $24,516 — total, $1,411,330. Directors. — F. E. Ward, Thomas Cooper, S. C. Stickney, A. W. Trenholm, George P. Lyman, St. Paul, Minn. ; H. R. Williams, C. A. Goodnow, Chicago, 111. ; E. Pennington, L. F. Day, Minne- apolis, Minn. OFFICERS : A. W. TRENHOLM, Pres. ; S. C. Stickney, Vice-Pres. ; H. P. Upham, Treaa. ; W. G. Johnson, Sec., St. Paul, Minn. GENERAL OFFICE, St. Paul, Minn. TABOR AND NORTHERN RY. — Tabor to Malvern, la., 8.79 m. ; total track (steel, 5.79 m.), 9.79 miles. Gauge, 4 ft. 8J in. Rail — 35 and 56 Ibs. Chartered Nov. 3, 1887; road opened Dec. 20, 1889. Locomotive, 1. Cars — passenger, 1 ; baggage, etc., 1 — total, 2. Operations, year ending June 30, 1902. — Trains run (mixed), 12,411 miles. Passengers car- ried, 12,621 ; carried one mile, 110,938. Tons freight moved, 13,252 ; ton-miles, 115,485. Earn- ings (passenger, $5,272; freight, $12,705; other, $394), $18,371. Operating expenses, $11,959. Net earnings, $6,412. Total deductions, $5,458. Surplus for year, $954. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock ($120,000 auth.; $50 shares) paid in, $23,500; funded debt (1st 5s of April 10, 1919), $50,000; current liabilities, $32,694 — total, $106,194. Contra: Cost of road and equipment, $88,392; materials, etc., $1,248; cash and current assets, $2,740 ; profit and loss, $13,813 — total, $106,193. Directors. — Robert McClelland, J. M. Barbour, H. C. Dye, R. S. McClelland, Tabor, la. ; Thom- as McClelland, Galesburg, 111. OFFICERS : ROBERT MCCLELLAND, Pres. & Gen. Mgr., Tabor, la. ; Thomas McCelland, Vice-Pres., Galesburg, 111.; H. C. Dye, Sec. & Trees.; D. E. Low, And., Tabor, la. GENERAL OFFICE, Tabor, la. WTNONA BRIDGE RY. CO.— Winona. Minn., to Buffalo, Wis., 1.03 miles. Gauge, 4 ft. 81 in. Rail (steel), 60 Ibs. Incorp. July 10, 1890; opened Sept. 1, 1891. Connects the Winona and Western RR. with the Green Bay and Western Ry., and the Chic., Burl. & Quincy RR., and la leased by those companies for 30 years, the lessees to pay $100 per month (over and above tolls) for maintenance, repairs, etc., and under severally executed contracts to pass all traffic over the bridge. Operations, year ending June 30, 1902. — Passengers carried, 21,082 ; carried one mile, 21,714. Earnings (passenger, $5,313 ; freight, $16,229 ; other, $120), $21,662. Operating expenses, $6,344. Net earnings, $15,318. Payments : Interest on bonds, $19,200 ; taxes, $416 — total, $19,616. De- ficit, $4,298 ; deficit forward, $26,326 — total, $30,624. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $400,000; funded debt (1st 5s of Sept. 1, 1915), $384,000; current liabilities, $24,224; interest accrued, not due, $6,400 — total, $814,624. Contra : Cost of road, $784,000 ; profit and loss, $30,624 — total, $814 - 624. Directors (elected July 1, 1903). — W. W. Baldwin, Burlington, la.; J. A. Jordan, Green Bay Wis. ; Mark T. Cox, New York, N. Y. ; T. S. Howland, C. I. Sturgis, Chicago, 111. OFFICERS : W. W. BALDWIN, Prea., Burlington, la. ; J. A. Jordan, Vice-Pres., Green Bay, Wis. ; T. S. How- land, Trees. ; W. W. Weiss, Sec., Chicago, 111. GENERAL OFFICE, Chicago, 111. WYOMING AND MISSOURI RIVER RR. — Belle Fourche, S. D., to Aladdin, Wyo., 18 m. ; total track (steel; 56 Ibs.), 19.25 miles. Gauge, 4 ft. 8| in. Chartered June, 1895; road opened Feb., 1899. Built as an outlet for the coal mines at Aladdin. Connects at Belle Fourche with the Fremont, Elkhorn and Missouri Valley RR. Locomotive, 1. Passenger car, 1. Operations, June 30, 1902.1 — Earnings (passenger, $1,948; freight, $12,706), $14,654 Oper- ating expenses, $11,441. Net earnings, $3,213. Total deductions, $826. Surplus for year, $2 387. Financial Statement, Jan. 1, 1903. — Capital stock, authorized and paid in ($100 'shares), $500,000. No bonds or other indebtedness. Cost of road and equipment to date, $250,000. Directors. — M. S. Kemmerer, Walter Leisenring, Mauch Chunk, Pa. ; J. L. Kemmerer Scran- ton, Pa. ; H. A. Butler, Mauch Chunk, Pa. ; John D. Parker, Chicago, 111. OFFICERS • M S KEM- MEREB, Pres.; H. A. Butler, Vice-Pres., Mauch Chunk, Pa.; D. W. Hickey, Gen. Mar Aladdin Wyo. ; J. L. Kemmerer, Sec. & Treas., Scranton, Pa. GENERAL OFFICE, Aladdin, Wyo. YELLOWSTONE PARK RY. — Brisbin, Mont., to Yellowstone National Park 90 miles Completed up to June 30, 1900: Mountain Side (junc. No. Pac. Ry.) to Trail Creek Mont 112 m. ; total track (steel; 56 Ibs.), 13.4 miles. Gauge, 4 ft. 8J in. Rail (steel), 56 Ibs. Chartered sept. 21, 1898 ; road opened as above Dec. 1, 1898. The road will tap rich coal fields and a good agricultural belt, besides opening a way for tourists to the National Park. Equipment sup- POOR'S MANUAL OF RAILROADS. 625 plied by Northern Pacific Ry. Co. Capital stock, authorized and subscribed ($100 shares), $1,500,000. No bonds. Directors. — W. W. D. Turner, George Turner, J. C. Williams, Spokane, Wash. OFFICERS : W. W. D. TURNER, Pres.; George Turner, Vice-Pres.; J. C. Williams, Sec. & Treas., Spokane, Wash. GENERAL OFFICE, Spokane, Wash. ^ PACIFIC GROTTP— States of California, Oregon, Washington, Nevada, Utah and Idaho ; Territory of Arizona. CALIFORNIA NORTHWESTERN RAILWAY COMPANY. (Lessee of San Francisco and North Pacific Ry.) (For map of this road, see page 627.) History. — Chartered in March, 1898, with authority to construct about 200 miles of road from points on the San Francisco and North Pacific Ry. into the redwood forests of Mendocino and Humboldt Counties, Cal. It is the intention to build only 60 milea of the road at first, and 30 miles of this section, from Ukiah to a point beyond Willits, Cal., have been put in operation since the close of the fiscal year. The com- pany leases the San Francisco and North Pacific Ry., for twenty years from Sept. 20, 1898. The rental is an agreed amount; besides which, since Oct. 1, 1901, the net earnings in excess of such rental are divided among the stockholders of the San Francisco and North Pacific Ry. Co. (See lessor's statement, following this.) Rolling Stock Owned, June 30, 1902. — Locomotives, 3. Cars — passenger, 6; freight (box, 25; flat, 50; caboose, 1), 76; service, 17— total, 99. Consolidated Profit and LOSS Account, June 30, 1902 Gross earnings for year, $1,132,579.23; operating expenses and taxes, $824,314.36; net earnings, $308,- 264.87. Payments: Fixed charges of S. F. & N. P. Ry. Co., $224,493.22; rental, $48,600; dividend paid Oct. 1, 1901, $117,351.73— total, $390,444.95. Deficit, $82,180.08; surplus to June 30, 1901, $117,351.73; net surplus, $35,171.65. Net Profit Paid to Lessor and Stockholders, Sept. 21, 1898, to June 30, 1902. — Rental due Oct. 1, 1899, $48,600; rental anticipated on three-year accounting period ending Oct. 1, 1901, paid Nov. 8, 1899, $60,000; rental due Oct. 1, 1900, $48,600; rental and dividend on three-year accounting period, paid Oct. 1, 1901, $95,151.73 — total paid from net profits since date of lease, $252,351.73. General Balance Sheet, June 30, 1902.— Capital stock ($100 shares), $1,566,000; rental accrued, $48,600; reserve for taxes, $19,000; C. N. Ry. bank account, $8,230.57; creditors, $166,822.66; creditors on payrolls, $31,575.60; other items, $24.244.74; profit and loss (net income, $308,264.87; less interest sinking fund and rental, S. F. & N. P. Ry. Co., $273,093.22), $35,171.65— total, $1,899,645.22. Contra: Cost of road, etc., $1,566,000; Construction Company, $23,625.92; materials on hand, $87,642.76; sundry debtors, $23,247.56 ; insurance premium :paid, $8,879.86 ; station agents, $4,308.02 ; remittances in transit, $8,220.96; C. N. Ry. Co. labor and material, etc., $2,009.28; preliminary expenses, $15,264.44; cash on hand and in bank, $160,446.42— total, $1,- 899,645.22. Fancied Debt authorized, consists of $2,000,000 1st mtge. sinking fund 5 p. c. 30-yr. $1,000 gold bonds, due April 1, 1928, interest April and Oct., in San Francisco and in New York. The bonds have been issued and are in escrow with the Anglo-Californian Bank, to be applied to the con- struction of the road. They are guaranteed both as to principal and interest by the San Francisco and North Pacific Ry. Co. Directors — A. W. Foster, J. W. Lilienthal, G. A. Newhall, G. A. Pope, San Fran- cisco, Cal. ; John P. Overton, Santa -Rosa, Cal. A. W. FOSTER, President San Francisco, Cal. G. A. Newhall, V ice-President " " Sec. & Cont. — Thos. Mellersh, I Treas. — Anglo-Gal. Bank. . . San Francisco. Cal. San Francisco, Cal. | PRINCIPAL OFFICE AND ADDRESS 222 Sansome Street, San Francisco, Cal. 626 POOR 8 MANUAL OF RAILROADS — PACIFIC GROUP. SAN FRANCISCO AND NORTH PACIFIC RAILWAY. (California Northwestern Ry. Co., Lessee.) (For map of this road, see page 627.) 1. Main Line of Road.— Tiburon to Ukiah, Cal 106.20 miles. Sonoma Valley Branch: Ignacio to Glen Ellen, Cal 26.63 Donahue Branch : Main Line Junction to Donohue, Cal 5.56 Scbastopol Branch : Santa Rosa to Sebastopol, Cal 6.25 ' Guerneville Branch: Fulton to Guerneville and Bohemia, Cal 20.88 " Total length lines, June 30, 1902 165.52 miles Sidings, 31.84 miles. Gauge, 4 ft. 8^ in. Rail (steel, 127.69 in.), 30 to 70 Ibs. In addition to its railroad lines the San Francisco and North Pacific Ry. Co. owns the ferry from Point Tiburon to San Francisco, 6.5 miles, making the total mileage operated, railroad and ferry, 172.02 miles. 2. History. — Consolidation, in March, 1889, of the San Francisco and North Pacific RR. Co., Sonoma Valley RR. Co., Marin and Napa RR. Co., Cloverdale and Ukiah RR. Co. and San Francisco and San Rafael RR. Co. (See MANUAL for 1890, page 824.) Leased for 20 years from Sept. 20, 1898, to the California Northwestern Ry. Co. at an agreed rental, besides which, after three years from the date of the lease, the net earnings in excess of such rental are to be divided among the stockholders of this company. 3. Statement of mileage, equipment, operations, etc., for seven years ending June 30: 1896 1897 1898 1899 1900 1901 1902 Miles of Road 165.32 194.42 120.04 17 48 5 602 254,272 128,547 894,502 18,379,425 180,583 8,167,879 $ 373,279 367,257 50,422 165.32 194.65 121.61 17 48 6 500 261,779 117,316 891,195 18,600,457 169,525 7,499,347 S 359,983 326,751 50,361 165.32 194.85 124.77 18 49 6 502 261,042 127,787 902,640 19,985,264 188,123 8.901,236 $ 392,382 396,526 51,055 165.32 195.53 124.87 18 54 6 505 261,826 130,636 935,644 21,157,782 226,307 10,409,105 S 412,940 455,506 53,800 165.32 196.20 125.69 20 53 6 517 262,528 140,277 1,021,658 22,640,779 220,594 9,277,900 S 448,343 452,926 56,954 165.52 196.40 127.69 21 53 6 519 276,022 142,891 1,024,209 23,014,395 249,709 10,331,283 $ 473,500 502,785 62,715 165.52 197.36 130.66 22 57 7 523 302,944 136,946 1,090,890 24,814,570 261,980 11,234,194 S 529.365 540,408 62,806 Miles of Track Miles of Steel Rail Locomotives Passenger Cars Baggage, etc., Cars Freight and other Cars Passenger Train Miles *Freight Train Miles Passengers Carried Passenger Mileage Freight (tons) Moved Freight (ton)Miles Passenger Earnings Freight Earnings Miscellaneous 790,958 520,878 737,095 462,103 839,963 493,697 922,246 567,150 958,223 596,680 1,039.000 659,594 1,132,579 782,149 Net Earnings 270,080 205,550 25,000 37,500 274,992 204,915 25,000 34,867 346.266 203,050 25,000 36,481 355,096 201,900 25,000 38,813 361,543 201,743 25,000 42,256 379,406 199,513 25.000 41,827 350,430 199,493 25,000 42,165 Payments — Int. on Bonds .... Sinking Fund .... Taxes Total Charges 268,050 2,030 4,784 40 3,150 73 1,633 67 65.87 p.c. 2.03 c. 4.01 c. 264,782 10,210 4,458 59 2,795 20 1,663 39 62.69 p.c. 1.93c. 4.35 c. 264,531 81,735 5,080 83 2,986 31 2,094 52 58.78 p.c. 1.96c. 4.45 c. 265,713 89,383 5,578 55 3,430 62 2,147 93 61.50 p.c. 1.95c. 4.38 c. 268,999 92,544 5,796 17 3,609 24 2,186 93 62.27 p.c. 1.98c. 4.88 c. 266,340 113,066 6,284 74 3,989 79 2,'.94 95 63.48 p.c. 2.06 c. 4.86 c. 266.658 83,772 6,842 55 4,725 41 2,117 14 69.05 p.c. 2.13 c. 4.77 c. tNet Profits Gross Earn, per Mile Net Earn per Mile Expenses to Earnings Av. Rate per Pass, per Mile . . . Av. Rate per Ton per Mile .... • Including mileage of mixed trains, t The company paid a dividend of 1 p. c., or $60,000, in 1896, and a dividend of J of 1 p. c., or $30,000, in 1897 ; and the lessee paid to the company as rental in subsequent year $60,000 from the net profits of 1898, $30,000 from the net profits of 1899 and $48,600 yearly from the net profits of 1900, 1901 and 1902. 4. Rolling Stock, June 30, 1902. — Locomotives, 22. Cars— passenger, 57 ; bag- 628 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. gage, mail and express, 7; freight (box, 148; flat, 270; stock, 19; caboose, 3), 440; service, 83 — total, 587. Also 3 steamers and 1 floating pile driver. 5. General Income Account, year ending June 30, 1902. Earnings— Passenger $529,365 16 Freight 540,407 83 Mail and Express 47,513 51 Miscellaneous 15,29273 Total ($6,842.55 per mile) $1,132,57923 Expenses— Maint. Way and Structures . $172,284 18 Maintenance of Equipment. .. 270,554 36 Conducting Transportation... 253,13952 General Expenses 86,17107 Total ($4,725.41 per mile) $782,149 13 Net earnings (30.93 p. c.), $350,430.10. Payments: Taxes, $42,165.23; interest on funded debt, $199,493.22; sinking fund, $25,000— total, $266,658.45. Net profits, $83,- 771.65. (See lessee's statement, preceding this, for consolidated income and profit and loss accouni.) 6. General Balance Sheet, June 30, 1902. Cost of Road and Equipment $10,000,000 00 Other Permanent Investments 437,09631 Materials and Supplies 21,047 36 Oasli and Current Assets 1,840 49 C. N. Ry. Co., Rental 48,60000 Total Assets $10,508,584 16 Capital Stock ($100 shares) $6,000,00000 Funded Debt (see Sec. 7) 3,970,00000 Sinking Fund 320,00000 Profit and Loss 218,584 16 Total Liabilities $10,508,58416 7. Funded Debt — The funded debt consists of 1st gold 5s of Jan. 1, 1919. There is a sinking fund of $25,000 a year for purchase of the bonds in the open market at not exceeding 1 p. c. and accrued interest. This company guarantees the bonds of the California Northwestern Ry. Co., both as to principal and interest. 8. Directors.-A. W. Foster, G. A. Newhall, G. A. Pope, San Francisco, Cal.; J. P. Overton, Santa Rosa, Cal. ARTHUR W. FOSTER, President San Francisco, Cal. G. A. Newhall, Vice-President Qen. Man. — H. C. Whiting. . .San Francisco, Cal. | Sec. & Cont. — Thos. Mellersh..San Francisco, Cal. Treasurer — Anglo-Californian Bank San Francisco, Cal. PRINCIPAL OFFICE AND ADDRESS 222 Sansome St., San Francisco, Cal. NORTH SHORE RAILROAD COMPANY. 1. Main Line San Francisco to Cazadero, Cal. (inc. ferry, 6 m.) . . 86.75 miles. San Rafael Branch : San Anselmo to San Rafael, Cal 2.00 Mill Valley Branch: Mill Valley Junction to Mill Valley, Cal 1.75 LEASED: San Rafael & San Quentin RR.: San Rafael to San Quentin, Cal.. . 3.50 " Total length of lines operated, June 30, 1902 94.00 miles. 2d track, 7.5 m.; sidings, 12 miles. Gauge, 3 ft. Rail (steel), 35 to 60 Ibs. 2. History.— Chartered July 30, 1902. Successor to the North Pacific Coast RR. Co. (see MANUAL for 1902, pages 578 and 1512). In connection with its railroad lines the company operates steam ferries from San Francisco to Sausalito, the length of which, 6 miles, is included in mileage of main line in Sec. 1. The San Rafael and San Quen- tin RR. is leased for 43 years from March 11, 1875. 3. Rolling Stock, June 30, 1902 — Locomotives, 13. Cars — passenger, 36; bag- gage, mail, and express, 8; freight (box, 64; stock, 18; flat, 267), 349— total, 393. The company also owns two ferry steamers. 4. Operations, for four months ending June 30, 1902 — No record of train mileage. Passengers carried, 767,105; carried one mile, 9,946,493; average mile rate, 1.36 cents. Tons freight moved, 27,285; moved one mile, 824,460; average ton-mile rate, 5.48 cents. Earnings— passenger, $134,906.90; freight, $45,171.61; mail and express, $10,024.55; other, $123.20 — total, $190,226.26. Expenses — maintenance of way, $14,435.17; equip- ment, $10,308.62; transportation, $78,651.74; general, $7,004.65— total, $110,400.18. Net earnings (41.96 p. c.), $79,826.08; other receipts (rents, $2,478; sundries, $662.05), $3,140.05 — total, $82,966.13. Payments: Interest on bonds, $30,834.73; other interest, $2,804.17; taxes, $3,947.40— total, $37,586.30. Surplus, $45,379.83. POOR'S MANUAL OF RAILROADS. 629 5. General Balance Sheet, June 30, 1902 — Capital stock, $6,000,000; funded debt (see below), $2,348,000; current liabilities, $226,385.61; accrued interest and notes, $6,868.05; profit and loss, $17,294.66— total, $8,598,548.32. Contra: Cost of road, $7,585,097.54; equipment, $786,054.27; Russian River land, $19,040, materials, etc., $8,324.06; cash, $179,712.27; current accounts, $20,320.18— total, $8,598,548.32. <>. Funded Debt. — The funded debt outstanding on June 30, 1902, consisted of (1) $1,498,000 ($1,500,000 auth.) North Pacific Coast RR. 1st mtge. 5 p. c. 20-year $1,000 gold coupon bonds, due July 1, 1912, interest Jan. and July, and (2) $850,000 ($6,000,- 000 auth.) North Shore RR. 1st mtge. 5 p. c. 40-year $1,000 gold coupon bonds, due May 1, 1942, interest May and Nov. Additional particulars respecting the bonds will be found in the Ready Reference Bond List — see General Index. 7. RAILROAD LEASED BY THE NORTH SHORE RR. Co. SAN RAFAEL, AND SAN QUENTIN RR San Rafael to San Quentin, Gal., 3.50 miles. Char- tered Feb. 25, 1869 ; road opened in March, 1871. 8. Directors. —John Martin, Eugene de Sabla, Antoine Borel, Chas. A. Grow, John C. Coleman, Edward Coleman, William M. Person, R. M. Hotaling, C. de Guigne, San Francisco, Cal. JOHN MARTIN, President San Francisco, Cal. Eugene de Sabla, V 'ice-President " " Treasurer — Antoine Borel San Francisco, Cal. | Secretary — F. B. Latham San Francisco, Cal. PRINCIPAL OFFICE AND ADDRESS San Francisco, Cal. Leased March II, 1875, to North Pacific Coast RR. Co. ; rental, $1 per annum. Capital stock, $43,820. SOUTHERN PACIFIC COMPANY. (For maps of this company's systems, see pages 632 and 633.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Expenditures 26 Capital Stock 13 Changes in Funded D'bt, 1902 23 Consol. Bal. Sht., Prop. Cos. 22 Consol. Inc. Acct., Prop. Cos. 10 Consol. Profit and Loss Acct. of Proprietary Cos 14 Directors and Officers 31 Earn'gs, etc.. Entire System. 15 Earnings, etc., 1901 and 1902. 6 Equipment, Schedule of 4 Fixed Interest Charges 20 Floating Equipment 3 Funded Debt, So. Pac. Co... 17 Gen. Bal. Sheet, S.P.Co., 1902. 16 Gen. Bal. Sheet, 1896-1902 18 General Oper., All Lines.... 7 Guaranteed Bonds 21 History 1 Inc. Accts., Prop'y Cos 10 Inc. Acct., So. Pac. Co. and Proprietary Cos 12 Income Acct., So. Pac. Co.... 9 Land Department 28 Laud Grant Accounts 27 Leased Line Statements 30 Leases, Terms of 6 Lines of Road in Detail 2a Mile, of System, June 30, 1902. 2 Omnibus Lease 6 Operations, 1901 and 1902 5,7 Operations of Texas Lines.. 15 Profit and Loss Acct., So. Pac. Co. and Prop. Cos 8 Profit & Loss Acct., S. P. Co. 11 Properties and Mileage 2b Rolling Stock 4 Sinking Funds 26 Stocks & Bonds in Treasury. 24 Stocks and Bonds Pledged ... 19 Terms of Leases 6 Trust Fund, Prop'y Cos 29 1. History. — The Southern Pacific Co. is a corporation created by special charter from the State of Kentucky, authorizing it, among other things, to contract for and acquire, by purchase or otherwise, stocks, bonds, or securities of any company, corpora- tion, or association; to enter into contracts in respect to the construction, establishment, acquisition, owning, equipment, leasing, maintenance, or operation of any railroads, telegraphs, or steamship lines, or any public or private improvements, and to buy, hold, sell, and deal in all kinds of private and public stock, bonds, and securities. The company was organized on Aug. 14, 1884, and commenced practical operations on March 1, 1885, when the "Omnibus Lease" (see Sec. 6) went into effect. The proprietary lines not embraced in the "Omnibus Lease" have been acquired from time to time since then as shown in the MANUAL for 1900, on pages 612 and 618, and in the MANUAL for 1901, pages 611 and 614. The New Mexico and Arizona RR. and the Sonora Ry. are leased from The Atchison, Topeka and Santa Fe Ry. Co. until Sept. 1, 1979, this company agree- ing to pay an annual rental of $54,646.86 in U. S. gold coin for the former and $163,486.14 in like gold coin for the latter. On the other hand, the Mojave Division of the Southern Pacific RR. is leased to The Atchison, Topeka and Santa Fe Ry. Co., also, until Sept. 1: 1979, at an annual rental of $218,133 in U. S. gold coin. 630 POOR S MANUAL OF RAILROADS — PACIFIC GROUP. 2. Mileage of the Railroad System on June 30, 1902. -* A. OPERATED UNDER LEASES BY S. P. Co. (total, 5,507.57 miles.) •a Southern Pacific Railroad 3,267.55 in. Less, Mojave-Needles line, leased to A., T. & S. F. Ry. Co 242.51 m. — 3,025.04 miles. South Pacific Coast Railway 101.10 " Central Pacific Railway 1,359.02 Oregon and California Railroad 671.71 " New Mexico and Arizona Railroad 88.10 " Sonora Railway 262.60 " B. OPERATED IIY THEIR OWN ORGANIZATIONS (total, 3,301.64 miles). Morgan's Louisiana and Texas Railroad Louisiana Western Railroad Texas and New Orleans Railroad Galveston, Harrisburg and San Antonio Railway Galveston, Houston and Northern Railway Houston, East and West Texas Railway Houston and Shreveport Railroad New York, Texas and Mexican Railway Houston and Texas Central Railroad Carson and Colorado Railway Iberia and Vermilion Railroad Gulf, Western Texas and Pacific Railway 323.77 164.27 395.33 917.00 53.44 190.69 39.05 122.41 668.73 299.62 " 16.13 " 111.20 " Total railroad mileage operated in system, June 30, 1902. 8,809.21 miles. 2 a. Statement in detail of the mileage of railroads, ferries, river and ocean lines controlled by the Southern Pacific Co. on June 30, 1902, arranged alphabetically without reference to the classification in Sec. 2, which see: Proprietary Line*. Carson and Colorado Ry. (n. g.) : Mound House, Nev., to Keeler, Cal Junction to Candelaria, Nev Miles. 293.62 6.00 Total C. & C. Ry. 299.62 Central Pacific Ry. (owned, 1,348.38 m.) : Oakland Local Lines, viz. : Oakland Pier to East Oakland 4.84 Alameda Local lines, viz. : Oakland Pier to Melrose 8.31 Mastick Station to Alameda Wharf 1.25 East Oakland to Fernside 1.98 Oakland to Niles 26.39 San Jose, Cal., to near Ogden, Utah 862.84 Ogden Un. Sta. to Utah Cent. Crossing. . 0.11 Roseville to Oregon State Line 296.58 Lathrop to Go ihen 146.08 San Fran, to Oakland (Ferry 3.69 m.).. S. F. to Sacramento (River line 125 m.) Marysvllle St'b't line (River line 190 m.) . J Union Pacific Ry. : Ogden west. . 5.00 j S.P.RR. : Brighton to Sacramento 6.64 Total, Central Pacific Ry 1,359.02 Cromwell Steamship Co. : N. Y. to N. Orleans (Ocean line 1,800 m.) Direct Navigation Co. (Texas) : Houston to Galveston (River line 75 m.) Oalveston, Harrisburg and. San Antonio Ry. : Houston to El Paso, Tex 833.41 Spoftord to Eagle Pass, Tex 35.05 Harwood to Gonzales, Tex 12.30 Smith's Junction to La Grange, Tex.... 28.50 Stella to Harrisburg, Tex 7.74 Total, G., H. & S. A. Ry. 917.00 Galveston, Houston and Nwthern Ry. Magers to Galveston, Tex Gulf, Western Texas and Pacific Ry. Port Lavaca to Cuero, Tex Victoria to Beeville, Tex Total, G., W. T. & P. Ry. Houston, Eait and West Texas Ry. : Houston, Tex., to Logansport, La.., Houston and Shreveport RR. : Logansport to Shreveport, La. Houston and Texas Central RR. : Houston to Denison, Tex Hempstead to Austin, Tex Bremond to Ross, Tex Austin to Llano, Tex Fairland to Marble Falls, Tex. . . Garrett to Waxahachie, Tex Waxahachie to Fort Worth, Tex. Total. H. & T. C. RR. Miles. 53.44 55.14 56.06 111.20 190.69 39.05 337.98 115.00 54.77 99.75 6.69 12.57 41.97 668.73 Iberia, and Vermilion RR. : Salt Mine Junction to Abbeville, La... Louisiana Western RR. : Lafayette, La., to Sabine River, La Midland to Eunice, La Midland to Abbeville, La 16.13 105.76 23.73 34.78 Total, La. Western RR 164.27 M's La.dTex.RR.&SS.Co.(o-wne& 300.17 m.) Algiers to Lafayette, La Lafayette to Cheneyville, La Alexandria Terminal, La Cade to Arnaudville, La 144.63 60.15 1.24 29.74 POOR'S MANUAL SOUTHERN PACIFIC COMPANY. 631 Miles. 'M's La. & Tex. RR. Brought forward 235.76 New Iberia to Salt Mine, La 9.64 Baldwin to Cypremort, La 15.29 Schriever to riouma, La 14.60 Schriever to Napoleonville, La 22.85 Raoeland Branch, La 2.03 New Orleans to Algiers (Perry 1 m.).... New Orleans to Havana, via Tampa and Key West (Ocean line 700 m.) Morgan City to Brazos, Santiago (Ocean line 570 m.) Morgan City to Point on Bayou Teche (River line 105 m.) Leased : Texas and Pacific Ry. Co. : Cheney ville to Alexandria 23.60 Total M. La. & Tex. RR 323.77 New York, Texas and Mexican Ry. : Rosenberg to Victoria, Tex 91.00 Wharton to Van Vleck, Tex 31.41 Total, N. Y., Tex. & Mex. Ry 122.41 Oregon and California RR. ( owned, 669.99 m. Portland, Ore., to State line, Cal Portland to Corvallis, Ore Woodourn to Natron, Ore Albany Junction to Lebanon, Ore Portland to Airlie, Ore Sheridan Junction to Sheridan, Ore Mohawk June, to Wendling, Ore Leased: No. Pac.Ter. Co., Portland, Ore.. Total Ore. & Cal. RR 671.71 South Pacific Coast Rn. (n. g.) : Alameda to Santa Cruz, Gal 77.60 Alameda Jane, to 14th St., Oakland 1.90 Newark to Centerville, Cal 3.00 Campbells to New Almaden, Cal 9.60 Felton to Boulder Creek, Cal 7.30 June. South Big Trees to Old Felton, Cal 1.70 San Francisco to Alameda (Ferry 3m.). Total S. P. C. Ry 101.10 Southern Pacific RR.: San Francisco to Tres Pinos 100.49 Alcalde to Yuma 551.35 Mojave to Needles *242.51 Carnadero to Salinas City 35.10 Salinas City to San Miguel 90.89 Los Angeles to San Pedro 24.65 San Miguel to Saugus 239.95 Stockton to Milton 36.82 Baden to South San Francisco 1.51 San Bruno to South San Francisco 2.16 Hillsdale to New Almaden 7.71 Pajaro to Santa Cruz 21.20 Aptos to Monte Viata 4.78 Castroville to Lake Majella 19.55 Avon to San Ramon 20.27 Near Martinez to Armona 193.28 Collis to Fresno 15.15 Peters to Merced 57.99 Berenda to Raymond 21.00 Fresno to Pollasky 24.11 Fresno to Famosa 102.28 Burbank to Chatsworth Park 21.62 Clement June, to Port Los Angeles 17.87 Soldiers' Home Branch 2.97 San Pedro to Point Terrain 2.92 Florence to Santa Ana 28.26 Miraflores to Tustln 11.70 Studebaker to Whittier 5.91 Long Beach to Thenard 4.02 Shorb to Pasadena 4.83 Miles. South. Pacific RR. Brought forward 1,901.85 Shorb to Duarte 13.72 Anaheim to Los Alamitos 10.08 Ontario to Chino 5.78 Declez to Declezville 2.55 San Bernardino to Riverside 11.09 Redlands June, to Crafton 7.19 Riverside Extension 1.47 Bassett to Pomona 17.40 Pomona June, to Chino 4.43 Montalvo to west end of Simi Tunnel 37.70 Salinas to Salinas Sugar Factory 2.82 San Buenaventura to Nordhoft 15.13 Goshen to Exeter 16.79 Anaheim Extension 1.70 Anaheim to Loara Junction 2.59 Surf to Lompoc 10.35 Guadalupe to Betteravia 3.62 Madera to end of track 3.91 Santa Ana to Newport Beach 11.71 Newport Beach to Smeltzer 10.76 Oil Junction to Oil City : 6.38 Treadwell Junction, North 2.45 Bakersfield to Olig 50.01 West Oakland to near Martinez 31.04 Benicia to Suisun 16.35 Woodland to Tehama 100.84 Shell Mound to Berrymaa 3.80 Willows to Fruto 16.84 Elmira to Rumsey 51.39 Napa June, to Santa Rosa 36.95 Sacramento to Placerville 59.73 Gait to lone 27.21 Woodbridge to Valley Springs (n. g.) 29.26 Port Costa to Benicia ( Ferry 1 mile) . . . West Oakland to West Berkeley 4.15 16th Street, Oakland, to Shell Mound 1.55 Fair Oaks June, to Fair Oaks Bridge. . . 2.14 Oroville to Knight's Landing 53.72 Vallejo to Sacramento 60.39 Davis to Knight's Landing 18.64 Napa Junction to Calistoga 34.48 Vallejo June, to Vallejo (Ferry 2 m.).. East bank of Colorado River to Arizona and New Mexico Line 392.90 Arizona State Line to east bank of Rio Grande 167.45 Leased: San Bernardino to Motor Jc.(n.g.) 7.24 Total Southern Pacific RR 3,267.55 Southern Pacific Co. : New York to New Orleans (ocean line 1,800 miles). Texas & New Orleans RR. (394.9 miles) : Sabine River to Houston, Tex 112.16 Sabine Pass to Rockland, Tex 103.11 Rockland to North of Nacogdochea, Tex. 50.41 Dallas to Jacksonville, Tex 115.59 Houston to Clinton, Tex 8.12 Bonita Junction to Mahl, Tex 5.51 Oioncd jointly with International & Great Northern Ry. at Jacksonville, Tnx 0.43 Total T. & N. O. RR... . 395.33 Total Proprietary Lines 8,701.020 Non-Proprietary Line*. New Mexico & Arizona RR. : N. M. & A. June, to Nogales, Ariz 88.10 Sonera Railway : Negates to Guaymas, Mez 262.597 Total Non-proprietary Lines 350.697 •Leased to The Atchison, Topeka & Santa Fe Ry. Co. tOwned by the Texas Transportation Co., but purchased by Texas & New Orleans RR. Co. in 1896, subject to, but without assuming, mortgage of $350,000 1st mtge. 5 p. o. bonds. ^ SOUTHERN PACIFIC SYSTEM. PACIFIC SYSTEM. LE 633 634 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. 2fo. Properties and Mileage. — The transportation lines constituting the Southern Pacific System, June 30, 1902, were as follows: DIVISIONS. Main Track. Second Track. Sidings. Total Track. Steel Rails. Ferries. River and Ocean Lines. I. — Proprietary Lines of South- ern Pacific Company. — (a) Operated by S. P. Co. under leases to it : Southern Pac. RR if, *3,267.55 M. 56.27 M. 846 17 M. 4,169.99 M. 3,614 23 M. 300 M. South Pacific Coast Ry . . . 101.10 8.52 43.29 152.91 102.83 3.00 Central Pacific Ry. 1,359.02 14 95 477 33 1 851 30 1 726 34 3 69 315 Oregon & California RR. . . 671.71 96.90 768.61 698.62 (b) Operated by companies owning the lines: Morgan's L. & Tex. RR. &SS. Line 323.77 35.87 159 86 519 50 1 00 1 375 Louisiana Western RR . . . 164.27 38 93 203 20 Texas 299.62 22.38 322.00 So. Pac. Co. Steams'pLine 1,800 IT. — Proprietary Lines of Mor- gan's La. & Tex. RR. & SS. Co. — Operated by their own organizations : Iberia & Vermilion RR . . . 16.13 2.86 18.99 18.99 Direct Navigation Co .... 75 Gulf, Wes. Tex. & Pac. Ry. 111.20 16.53 127.73 112.65 Total Proprietary Lines 8 701.02 119 50 2 231.88 11,052.40 10.69 5 365 III. — Non Proprietary Lines. — Operated by the Southern Pacific Co. under Leases : New Mex. & Arizona RR . 88.10 7.98 96.08 92.14 262 60 17 59 280.19 280.19 350 70 25 57 376.27 372.33 Grand Total Mileage 9 051 72 119.50 2 257.45 11,428.67 10.69 5 365 * Includes Southern Pacific RR. Co. line from Mojave, Gal., to The Needles, 242.51 miles, which Is leased to the Atchison, Topeka and Santa Fe Ry. Co. until Sept. 1, 1979, for an annual rental of $218,133 U. S. gold coin. RECAPITULATION . RR. Lines. Ferries. River and Ocean Lines. REMARKS. Proprietary Lines : Owned 8,657.823 43.197 10.69 5,365 Miles of Railroad Owned .... Less leased to A., T. & S.F.Ry Owned mileage operated .... Miles of railroad leased 8,657.823 242.507 L eased Total 8,701.020 350.697 10.69 5,365 8,415.316 393.894 Non-proprietary Lines Total June 30, 1902 9,051.717 9,016.880 34.837 10.69 10.69 5,365 5,365 Total Mileage operated 8,809.210 Total June 30 1901. . Increase . . Gauge, 4 ft. 8y2 in., except Carson and Colorado RE., 299.62 miles, South Pacific Coast Ry., 101.10 miles; and narrow-gauge branches of Southern Pacific RR., 36.5 miles, all of which are of 3 ft. gauge. Rail, 35 to 96 Ibs. The total additions to the operated mileage of the company's lines since its last report (after deducting 5.14 miles net decrease from changes in location of lines and POOR 8 MANUAI -SOUTHERN PACIFIC COMPANY. 635 5 miles transferred from main track mileage to sidings) were 34.84 miles of main track, 12.23 miles of second track, and 152.92 miles of sidings. Excluding the Mojave Division, leased to The Atchison, Topeka & Santa Fe Ry. Co., the operated mileage of the company's lines on June 30, 1902, comprised 8,458.13 miles fef ' ' Proprietary ' ' and 350.70 miles of ' ' Non-Proprietary ' ' lines. The average number of miles of road operated for the year was 8,757.48 miles. 3. Floating Equipment, June 30, 1902. — Steamships, 24 ; river steamers, 9; ferry steamers, 7; car transfer steamers, 6; tugs, 13; car transfer barges, 2; barges, 21 j derrick boats, 4 ; pile drivers, 2 ; pile driver barge, 1 ; dredges, 3 ; steamship stern dock, 1. The Southern Pacific Co. owns 12 of the steamships and 1 of the tugs; the floating equipment owned by the proprietary companies is shown in their respective statements. 4. Rolling Stock (Proprietary Companies and Southern Pacific Co.), June 30, 1902. — Locomotives, 1,374. Cars (passenger, 1,331; freight, 39,518; road service, 2,463), 43,312 as follows: Passenger Equipment. Baggage, Express and Mail 314 Baggage and Passenger.... 93 Business 25 Chair 67 Composite 11 Dining 23 Parlor 2 Passenger 754 Postal 42 Freight Equipment. Box 19,607 Caboose 583 Flat 11,880 Fruit 1,146 Furniture 203 Gondola 2,794 Oil Tank 793 Pit 2 Refrigerator 203 Stock 1,904 Tank 503 Road Service Equipment. Air Brake 2 Ballast 783 Derrick 25 Derrick Tender 73 Ice Flanger 16 Pile Drivers and Tenders.. 32 Station and Maint. of Way. 1,217 Steam Shovels & Tenders.. 8 Snow-plows and Tenders... 19 Water 270 Miscellaneous 18 Total 1,331 Total 39,518 Total 2,463 Of this equipment the Southern Pacific Co. owns the following: Locomotives, 102. Cars — passenger, 20; chair, 30; dining, 4; freight (box, 565; flat, 1,100; fruit, 230; gondola, 500; oil tank, 567; stock, 300) 3,262; service (ballast, 300; station and main- tenance of way, 31; snow- plows, 2), 333 — total, 3,649. The equipment owned by the proprietary companies is shown in their respective statements. 5. Traffic and Transportation Operations.— Statement of train mileage and traflSc operations, earnings and expenses of all lines for two fiscal years ending June 30: 1901 1902 1901 1902 Miles Road Operated (aver.) 8,654.97 13,204,999 17,656,562 1,368,705 8,757.48 14,398,718 18,066,913 1,241,424 RR. Earnings — Passenger Freight I 19,109,605 41 50,333,142 41 2,799,020 52 1,250,870 60 S 21,709,226 62 52,830,097 70 3,013,072 83 1,371,325 81 Freight Train Miles Mail & Express . . . Miscellaneous .... Total, Rail Lines Total Revenue Train Miles Total Traffic Miles 32,230,266 36,882,181 11,499,886 15,910,023 33,707,055 38,827,906 12,079,092 17,234,763 73,492,638 94 4,236,789 26 77,729,428 20 78,923,722 96 4,620,098 54 83,543,821 50 Through and Local Passengers Ferry — Suburban Passengers Total Passengers Carried Gross Earnings RR. Expenses— Maint. Way, etc. . . Main. Equip Transportation . . . General 10,174,319 78 7.643,913 80 26,305,335 92 1,957,161 02 12,093,242 51 9,128.251 87 28,079,869 83 1.699,781 28 27,409,909 786,895,220 148,248,106 29,313,855 927,427,864 159,461,657 Through and Local Pass. 1 Mile Ferry— Suburban Pass. 1 Mile Total Passengers 1 Mile Total, Rail Lines 46,080,730 52 3,353,821 37 51,001,145 49 3,893,554 41 935,143,326 14,151,098 3.658.470 1,086,889, 521 15,736,913 4,523,660 Operating Expenses 49,434,551 89 28,294,876 31 8,491 37 5,324 19 3,167 "18 63.60 p.c. 2.277 a 1.001 c. 54,894,699 90 28,649,121 60 9,012 15 5,823 72 3,188 43 65.71 p. c. 2.201 c. 1.021 c. Net Earnings Tons Company Freight Total Tons Freight Moved Freight Ton-Miles, Commercial . . . Freight Ton-Miles, Company Total Tonnage Mileage 17,809.568 4,862,692,291 821,471,498 20,260,573 4,957,602,303 1,102,271,107 *Gross Earnings per Mile "Operating Expenses per Mile *Net Earnings per Mile Expenses to Earnings . . Aver. Rate per Pass, per Mile 5,684,163,789 6,059,873,410 * Rail lines only. 636 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. The rail lines were operated at 64.63 p. c. of their gross receipts, against 62.70 p. c. in 1901, and the water lines at 84.27 p. c., against 79.16 p. c. in 1901. The average for both rail and water lines was 65.71 p. c., against 63.60 p. c. in 1901. Expenses for "maintenance" absorbed 26.89 p. c., and for "operation" 37.74 p. c. of the gross receipts of the rail lines. 6. Terms of Leases The " Omnibus Lease," the terms of which are outlined in the MANUAL for 1902, on page 584, was abrogated as of Dec. 31, 1901. The terms under which the railroads embraced in that lease are now operated are given in the separate statements for those railroads, appended hereto. 7. Results from Operation, Whole System. — The gross receipts and disburse- ments of the Southern Pacific Co. in respect to its leased lines, and of proprietary companies in respect of lines not leased, and the other receipts and disbursements of the Southern Pacific Co. and of all proprietary companies, for the two years ending June 30, 1901 and 1902, were as follows: 1902 1901 Increase. Decrease. Average Miles of all Rail Lines Operated — Pro- 8,757.48 $ 83,543,821 50 244,124 62 372,509 68 86,769 90 644,425 62 923,653 86 27,192 78 1,318,707 27 8,654.97 $ 77,244,898 18 519,044 93 416,057 48 92,364 90 529,352 42 637,134 50 5,462 06 1,663,357 74 102.61 9 6,298,923 32 Receipts. Gross Transportation Receipts from Operations of proprietary and Non-Proprietary Lines, $ Miscellaneous Receipts of Proprietary Cos. : 274,920 31 43,547 80 5,595 00 Income from Sinking Funds Pledged for Re- Income from Lands and Securities not Pledged 115,073 20 286,519 36 21,730 72 Gross Receipts of Southern Pacific Co. from Sources Other than from the Operations of 344,650 47 Total Receipts 87,161,205 23 54,894,699 90 1,886,301 94 81,107,672 21 49,098,026 84 1,780,986 98 6,053,533 02 5,796,673 06 105,314 96 Disbursements. Taxes Total 56,781,001 84 704,680 04 12,794,607 60 1,180,104 48 526,825 26 85,601 34 122,570 78 812,509 68 29,642 63 44,795 69 1,962,770 00 242,331 93 650,960 17 75,000 00 3,550 00 396,300 30 41,482 26 165,000 00 50,879,013 82 1,328,566 57 12,795,430 63 1,275,208 97 479,773 95 76,762 81 105,749 24 856,057 48 5,901,988 02 Miscellaneous Expenses and Other Charges of Proprietary Companies, viz. : 623,886 53 823 03 95,104 49 Interest on C.P.R.R.Co. notes to U. S. of A 47,051 31 8,838 53 16,821 54 Sinking Fund Contributions and Income from Sinking Fund Investments 43,547 80 Old Accounts Charged off and Adjusted 29,642 63 Miscellaneous Expenses 46,618 72 1,629,809 99 84,662 98 601,560 44 75,000 00 1,823 03 Other Charges against Southern Pac. Co., viz. : Interest on Funded Debt of So. Pac. Co . . . 332,960 01 157,668 95 49,399 73 Betterments Additions and Equipment .... Insurance, Taxes and all Other Ace. except for * Premium on Bonds Purchased and Canceled . . . Advances to San An. & Aransas Pass. Ry. Co. . . Old Accounts Charged off and Adjusted 3,550 00 465,609 29 69,308 99 41,482 26 Discount on So. Pac. Co. 4i per cent. Bonds. . . . 165,000 00 76,619,734 00 10,541,471 23 6,763,958 16 516,445 34 4,255,944 16 70,864,824 89 10,242,847 32 2,922,270 94 3,864,015 72 5,754,909 11 298,623 91 3,841,687 22 Expended for Betterments and Additions — Pro- prietary Lines Expended for New Equipment — Proprietary Lines Expended for Equip. Owned by So. Pac. Co Total . . 3,347,570 38 4,255,944 16 11.536.347 66 6,786.286 66 4,750.061 00 POOR'S MANUAL — SOUTHERN PACIFIC COMPANY. 637 Expenditures for betterments, additions and new equipment for account of the proprietary lines, amounting in the aggregate to $7,280,403.50, were this year charged to the capital account of the respective companies. Expenditures for betterments, additions and equipment to the railways of the South Pacific Coast Ry., the New Mexico and Arizona RR., and the Sonora Ry., amounting to $242,331.93, were charged to the income of the Southern Pacific Co. There were purchased 102 locomotives, 54 passenger train cars, 3,262 freight train cars and 333 road service cars, costing in the aggre- gate $4,255,944.16 in excess of the requirements of the replacement funds and of the appropria- tion made from the income of the preceding year. As further large expenditures for equipment are necessary, it was thought best that the Southern Pacific Co. should retain, for the present, the ownership of equipment thus purchased in excess of the equipment already owned by the constitu- ent companies, and should lease such equipment to the constituent companies. In former reports all receipts from rental of tracks and property were treated as a receipt separate from transportation receipts, and all payments for similar account were treated as an ex- pense separate from operating expenses. In this year's report the receipts or payments for track- age and other rentals have been taken up in the transportation receipts or operating expenses, ac- cording to the balance of such receipts or payments of the respective companies. Adjusting the transportation results reported for the preceding year to this year's method in respect of this mat- ter, the operations compare with those of the preceding year as follows : Average miles of road operated increased 102.51, or 1.18 per cent. Gross transportation receipts increased $5,814,393.30, or 7.48 " Operating expenses increased 5,460,148.01, or 11.04 " Taxes increased 105,314.96, or 5.91 " Transportation receipts over operating expenses and taxes increased. 248,930.33, or .83 " Receipts from all sources over all disbursements charged to In- come Increased 298,623.91, or 2.91 " The details of the receipts and disbursements of the Gila Valley, Globe and Northern Ry. Co. and of the San Antonio and Aransas Pass Ry. Co., whose bonds are guaranteed by the Southern Pa- cific Co., but whose receipts and disbursements are not included in the statement of "Income for the Year" (except the advance of $396,300.30 to the San Antonio and Aransas Pass Ry. Co.), are shown in Section 14. The .Bkarges against the income for the year include $369,060.43 advanced by the Southern ^Pacific C&. to the Oregon and California RR. Co., and $396,300.30 advanced to the San Antonio and Aransas Pass Ry. Co. for operations, betterments and additions, retirement of equipment trust notes and fltner purposes, but said sums, amounting in the aggregate to $765,360.73, still remain due ftrom said companies to the Southern Pacific Co. The greater part of the decrease in the gross receipts of the Southern Pacific Co. resulted from ^ change in the plan of operating the New York, New Orleans and Galveston steamship line. Prior to Jan. 1, 1902, the steamers of the Southern Pacific Co. were leased to the Morgan's Louisiana and Texas Railroad and Steamship Co. and operated by the Southern Pacific Co. as a part of the Mor- gan Line, and the rentals received for said steamers were treated as receipts of the Southern Pa- cific Co. Commencing with Jan. 1, 1902, said steamships were operated by the Southern Pacific Co., and their receipts and expenses were, for the purposes of comparison with previous years, in- cluded in the transportation receipts and operating expenses herein reported. Interest on funded debt increased $237,032.49. There was a decrease in interest on funded debt of the proprietary companies, and in interest on notes of the Central Pacific RR. Co. to the United States of $95,927.52, and an increase in interest on funded debt of the Southern Pacific Co. of $332,960.01, resulting principally from a full year's interest charge on the outstanding 2-5-yr. 4* p. c. gold bonds. The earnings and expenses of the Pacific Mail Steamship Co. and of the Gila Valley, Globe and Northern Ry. Co. have not been taken into the income for the year, nor are their earnings, expenses, assets or liabilities included in any statements in respect of the operations and transactions of the proprietary companies. A statement of the receipts and disbursements of the Pacific Mail Steamship vCo. will be found in Sec. 15. 8. Southern Pacific Company and Proprietary Companies — Profit and Loss Account for year ending June 30, 1902: Miscellaneous expenses Adjustment in accounts Premium on $435,000, face value. Ore. & Cal. RR. Co. 1st mtge. 5 p. c. bonds purchased and can- celed Loss in sale of the Austin & North- western, Cent. Texas & North- western & Ft. Worth & New Orleans Rys. to the Houston &. Texas Cent. RR. Co.: Loss in cost of properties $2,120,071 49 Lesa capital stock written off $61,070 00 143,369 90 10,875 00 Liabilities paid by H.&T.C.RR.Co. Dividend on C. T. A N. W. Ry.stk. 1,516,000 00 $604,071 49 329,930 71 $274,140 78 200,000 00— 474,140 78 Balance, June 30, 1902: So. Pac. Co $10,176,309 12 . Companies . 58,707,856 80— 68,884,165 92 Total $69,573,621 60 Balance, June 30, 1901 : So. Pac. Co $10,935,343 14 Prop. Companies . 44,064,894 39 — $55,000,237 53 Balance from income account Annual contribution to Sinking F'ds Income from Sink. Fund Investm'ts Proceeds from sale of lands pledged for redemption of bonds Profits from sale of bonds and se- curities exchanged Miscellaneous collections Adjustment in accounts Dividend on Capital Stock of Cent. Tex. & Northwestern Ry Advances to San Antonio & Aransas Pass. Ry. Co. charged in income acct., now credited and charged to San Ant. & Aran. Pass. Ry Co. . . 10,541,471 23 515,000 00 372,509 68 2,155,418 86 332,279 21 30,727 47 29,677 32 200,000 00 396,300 30 Total $69,573,621 60 638 POOR S MANUAL OF RAILROADS — PACIFIC GROUP. 9. Income Account, Southern Pacific DISBURSEMENTS. Operating expenses, taxes, interest and all other charges which are an obligation of the Southern Pacific Company under its leases of the following: Central Pacific Ry $20,191,1 1 1 62 Oregon & California RR 3,504,911 38 South Pacific Coast Ry 1,360,249 46 La. West. RR $993,289 44 Mor.'sL. &T. RR. & SS. Co 4,379,946 35 Southern Pac. RR 27,994,894 12— 33,368,129 91 N. M. & Ariz. RR. 380,10106 SonoraRy 681,34652— 1,061,44758 Deficit in earnings of Oregon & Cal. RR. Co. after payment of all ex peuses, including betterments and additions 369,060 43 Total $59,854,910 38 Fixed rental to Cent. Pac. Ry. Co . . $10,000 00 Fixed rental to Ore. & Cal. RR. Co . 5,000 00 Fixed rental to So. Pac. RR. Co 5,000 00 Int. due to affiliated Cos. on ad- vances and open accts., including int. charged to Ore. & Cal. RR. Co. and S. A. & A. P. Ry. Co $996,210 14 Less int. due from af- filiated Cos. on simi- lar accounts 712,754 14— 283,456 34 Int. on S. P. Co. 6 p. c. SS. bonds. . . 135,030 00 Int. on S. P. Co. 4 p. c. bonds (C. P. Stock Collateral) •. 1,152,740 00 Int. on S. P. Co. 4i p. c. 2-5 yr. bds. . 675,000 00 Steamship expenses 1,413,446 40 Insurance on steamships 259,520 90 Taxes and expenses of land dept. . . . 3,323 1 9 Taxes on other property 26,726 23 Miscellaneous expenses 57,933 51 Annual paym'ts for redemption of 6 p. c. steamship bonds 75,000 00 Premium on $71,000, face value, S. P. Co. 6 p. c. steamship bonds, purchased and canceled 3,550 00 One year's proportion of discount on S. P. Co. 4* p.c. bonds sold . . . 165,000 00 Adjustment of old accounts 37,145 64 Expendit. for surveys, charged off. . 4,336 62 Advances to San Ant. & Aran. Pass Ry. Co. for acct. of oper., bet- terments and additions 396,300 30 Total $64,563,419 51 1O. Consolidated Income Account of 1902 (the separate income accounts will proprietary companies) : Gross Transportation Receipts $81,021,021 80 Rentals, Trackage 244,124 62 Income from Investments 86,76990 Income from Securities and Lands not Pledged for Redemption of Bonds. . 644,425 62 Income from Securities Owned by Sinking Funds 372,509 68 Interest on Open Accounts 923,653 86 Miscellaneous receipts 27,19278 Company, year ending June 30, 1902. RECEIPTS. Gross transportation and other re- ceipts from the operation of the properties leased by the So. Pac. Co.: Central Pacific Ry $20,191,111 62 Oregon & Cal. RR 3.5O4.911 38 South Pacific Coast Ry 924,488 35 La. West. RR $950,398 03 Morg.'sL. &T.RR & SS. Co 4,546,008 55 So. Pac. RR 28,805,599 86— 34,302,006 44 N. M. &Ariz. RR.. 254,978 10 Sonora Ry 537,867 02— 792,845 12 Total $59,715,362 91 Dividends on W., F. & Co.'s stock. . Dividends on other stocks Interest on bond* owned Proceeds from sale and lease of lands Profits on bonds sold Profits from operating wood-pre- serving works Steamship earnings Rentals from steamships Rentals from terminal facilities. . . . Rentals from other property Int. on open accts. other than with affiliated companies Miscellaneous receipts Adjustment old accounts Balance to Profit and Loss (sec. 11). $137,700 00 63,896 00 323,992 72 6,342 20 44,752 60 16,314 47 1,729,954 58 470,709 71 121,512 00 26,531 04 56,923 05 39,388 95 10,644 63 1,799,394 75 Total $64,563,419 51 Proprietary Companies, year ending June 30, be found in the respective statements for the Operating Expenses $52,734,092 04 Taxes 1,872,82511 Rentals, Steamships 470,709 71 Rentals, Trackage 15,837 33 Interest on Funded Debt 12,794,607 60 Interest on Central Pacific RR. Co. 3 p. c. Notes to United States of America 1,180,10448 Interest on Open Accounts 519,230 79 Land Department Expenses 85,601 34 Taxes on Granted Lands 122,57078 Miscellaneous Expenses 40,79095 Sinking Fund Contributions and In- come from Sinking Fund Invest- ments 812,50968 Construction, Improvement and Real Estate 167,18514 New Equipment 64 97 Old Accounts Charged Off and Ad- Justed 29,642 63 Surveys 4,00474 Total Receipts $83,310,698 26 Total Expenditures $70,849,77.7 29 Surplus for year, $12,469,920.97 ; deduct for adjustment under leases, $498.115.42 ; balance, surplus to credit of profit and loss, $11,971,805.55. POOR'S MANUAL — SOUTHERN PACIFIC COMPANY. 639 11. Profit and Loss Account, Southern Pacific Co., year ending June 30, 1902. Balance from Income Account(sec. 9) Balance June 30, 1902 $1,799,394 75 10,176,309 12 Total $11,975,703 87 Balance June 30, 1901 $10,935,343 14 Dividends on capital stock of Cent. Tex. . West . R H . Co 3,360,000 Morgan's La. & Tex.RR.A SS Co .15 000,000 of N. Y. : Stock Ex- of Capital Amount Deposited 27,005,600 3,310,000 4,994,000 4,164,100 19,992,600 96,740,133 6,886,300 4,997,500 Stocks and Bonds deposited w N. Y.. Trustee Southern 4 J p. c. gold mortgage. STOCKS. Austin & N. W. RR Carson & Col. Ry th Central Trust Co. of Pacific Co., 2-5-yr. Total Amount Issue. Deposited. S * 1,016,000 1,005,000 4,380,000 4,375,000 200,000 195,000 1,000,000 995,000 300,000 295,000 200,000 198,000 2,000,000 1,097,000 1,920,000 1,905,000 400,000 395,000 10,000,000 9,596,000 630,040 608,000 7,000,000 6,945,000 12,000,000 11,980,000 20,000,000 10,005,000 6,000,000 5,993,000 3,900,000 1,530,000 Cen. Tex. & N.W.Ry Cromwell SS. Co Ft. Worth &N.O. Ry Gal., H. & No. Ry Mex. International RR. Co . 18,708,200 So. Pac. RR. Co. (of Ariz.) . 19,995,000 So. Pac. RR. Co. (of Cal.). . 101,424,160 So. Pac. RR. Co.fof N.Mex.) 6,888,800 Tex. «fe New Orleans RR.Co. 5,000,000 Gila. Val., Globe & No. Ry. . Hous., E. & W.Texas Ry. . Hous & Shreve. RR. Hous. & Texas Cent. RR . . N. Y., Tex. & Mex. Ry Ore & Cal RR Com Total . J 97 460,532 168,090,233 of N. Y., gold mort- $ 67,274,200 12,000,000 Stocks deposited with Union Trust Co. Trustee Southern Pacific Co., 4 p. c. gage (Central Pacific Stock Collateral). Central Pac. Ry. Co.-Com... 67,275,500 Central Pac. Ry. Co.-Pref... 12,000,000 (also $67,157,800 00 face value of the capital stock of the C. P.RR. Co.) Ore. «kCal. RR., Pref Pac. Mail SS. Co So. Pac. Coast Ry So. Pac. RR. Co. (of Cal.). . Wells, Fargo & Co.'s Exp. . . Total Stocks 61,017,000 2,000,000 1,110,000 800,000 2,224,000 150,000 890,000 BONDS. Carson & Col. Ry. 1st 4V . . Gal., Har. & S. A. Ry. Co. 2d M. & P. ex. 6's Gal., Hou. & No. Ry. 1st 5's . Gulf W T WING BONDS. Cent. Pac. Ry.Co. 3i p. c. Mtge. Bonds. Ore. & Cal. RR. Co. 1st Mtge. 5 p. c. Bonds. S.P. RR. Co. (of Cal.) 6 p. c. Bonds of 1875. Tex.A N.O. RR. Co. 7 p. c. Main Line Bds. Total. Balance June 30, 1901 $ 805,259 65 $ 1,328,944 41 $ 2,097,432 04 $ 271,290 37 $ 4,502,926 47 Receipts During the Year. Sales Made for all Cash 52,929 92 91,915 62 699,395 75 266 39 844,507 68 First Payment on Time Contracts Prin. of Deferred Paym't on Time Sales Interest Collected on Principal of De- 34,882 80 475,223 18 57,180 49 91,567 98 1,209,708 05 82,763 28 10,667 91 42,229 86 21,144 33 17,412 18 61,864 08 15,289 60 154,530 87 1,789,025 17 176,377 70 Timber and Stum page 6,978 00 511 70 170 25 39 96 7,699 91 Lease and Pasturage 20,948 00 34,289 14 55,237 14 Interests on Deposits 1,189 91 5,986 44 7,176 35 Cash Receipts from Other Sources 51,471 91 1,846 00 6,071 13 59,389 04 700,804 21 1,484,299 07 807,897 24 100,943 34 3,093,943 86 Total 1,506,063 86 2,813,243 48 2,905,329 28 372,233 71 7,596,870 33 Disbursements During the Year. Cash Paid to Trustees 314,085 13 343,485 96 779,174 53 175,896 62 1,612,642 24 Income from Lands Applied to Interest on 3i per cent. Mortgage 86,296 40 86,296 40 Land Contracts Surrendered 53,761 55 20,788 92 54,078 43 128,628 90 Land Con. canc'led under Ord. of Court 1,365 96 1,365 96 Receipts Ap. to Payment of Expenses . 100,742 81 34,459 39 135,202 20 Total Disbursements for the Year . . . 454,143 08 465,017 69 869,078 31 175,896 62 1,964,135 70 Balance June 30, 1902. (Principal de- ferred Payments) 1,051,920 78 2,348,225 79 2,036,250 97 196,337 09 5,632,734 63 Number of Contracts Issued 230 387 120 21 758 Number of Acres Sold 111,040.84 177,989.61 171,360.48 19,555 479,945.93 Average Price Received per Acre Number of Acres Returned with Con- tracts Surrendered and. Correc- tions in Surveys $5 07 16,821.17 $7 85 5,206.25 $4 39 20,862.46 $4 07 35.00 85 81 42,924.88 Acres Remaining Unsold at close of Year . 6,745,388 2,671,639 *4,866,396.04 491,650 14,908,288.04 * 453,280 acres in litigation. POOR'S MANUAL SOUTHERN PACIFIC COMPANY. 649 28. Land Department.— The transactions of the Proprietary Companies during the year In regard to proceeds from the sale of lands pledged for the redemption of bonds amounted to the following : Number of acres of land sold, 479,946 ; cash receipts from sales, $999,038.55 ; amount of sales made on time contracts, $1,789,025.17 ; total amount of sales for the year, $2,788,063.72 ; average price received per acre, $5.81 ; land contracts outstanding June 30, 1902, $5,632,734.63 ; face value of bonds purchased and cancelled by trustees from proceeds of the sales of land paid over to them, $1,049,000. In the suit which has been pending for a number of years between the United States and the Southern Pacific RR. Co. (of Cal. ) for the recovery by the United States of lands embraced in the conflict between the Southern Pacific and the Atlantic and Pacific RR. land grants, the Southern Pacific RR. Co. lost title to about 1,986,395 acres of land included in former reports in the statement of acreage in litigation. The title to about 453,280 acres of land is still unsettled. There remained unsold at the close of the year 14,908,288 acres of land, including the 453,280 acres in litigation. This does not, however, include 2,446,843 acres of land formerly belonging to the Houston and Texas Central RR. Co., the proceeds of which are under the Trust Indenture executed by Frederick P. Olcott, the purchaser thereof at foreclosure sale, to be applied in the pur- chase and cancellation of 1st and consol. mtge. bonds of the Houston and Texas Central RR. Co. The land contracts outstanding June 30, 1902, for account of Olcott lands sold, amounted to $1,431,- 867.05. The transactions of each company in respect to lands and the disposition made of their cash receipts therefrom are shown in detail in Sections 27 and 29. 29. Trust Funds — Proprietary Companies. PLEDGED FOR ACCOUNT OP THE FOL- LOWING BONDS. Cent. Pac. Ry.Co. 3f p. c. Mtge. Bonds. Ore. & Cal. RR.Co. 1st Mtge. 5 p.c. Bonds. S. P. RR. Co. (of Cal.) 6 p. c. Bonds of 1875. Tex.&N.O. RR.Co. 7 p.c. Main Line Bonds Total. Balance June 30, 1901 S 396,606 28 $ 349,084 57 $ 9,034,183 22 $ 599,328 25 S 10,379,202 32 Receipts During the Year. Cash from Sales Pard in Full 52,929 92 34,882 80 174,800 50 91,915 62 91,567 98 169,637 75 82,763 28 511 70 7,832 44 699,395 75 10,667 91 47,966 54 21,144 33 266 39 17,412 18 136,817 36 15,289 60 39 96 6,071 13 844,507 68 154,530 87 529,222 15 119,197 21 86,848 06 72,564 90 Cash from Sales Made on Def. Paym'ts.. Prin. of Deferred Payments Collected. . Interest Col on Deferred Payments . . . 86,296 40 51,471 91 Cash Receipts from Other Sources Total Receipts During the Year.. . . Total 7,189 42 400,381 53 444,228 77 786,363 95 175,896 62 1,806,870 87 796,987 81 793,313 34 9,820,547 17 775,224 87 12,186,073 19 Applied to Paym't of Int. on Bonds . . . Land Department Kxp. and Taxes .... 86,296 40 10,875 00 100,742 81 97,171 40 126.860 21 17,900 00 26,ii7 40 17,900 00 Total 86,296 40 111,617 81 44,017 40 241,931 61 710.691 41 681,695 53 9,820,547 17 731,207 47 11,944,141 58 Applied as Follows : Face Val. of Bonds Pur. and Canceled . . Cost of Bonds Purchased and Canceled . 812,000 00 643,000 00 8,655,500 00 705,000 00 ' 10,815,500 00 702,498 44 8,192 97 633,075 00 29,463 63 19,156 90 8,655,500 00 1,165,047 17 705,000 00 26,207 47 10,696,073 44 1,228,911 24 19.156 90 Cash in Hands of Company Total 710,691 41 681,695 53 9,820,547 17 731,207 47 11,944,141 58 3O. NON-PROPRIETARY LINES, OPERATED UNDER LEASE BY THE SOUTHERN PACIFIC Co. NEW MEXICO AND ARIZONA RR N. M. & A. Junction to Nogales, Mex., 88.10 in. ; total track, 96.08 miles. Rail (steel, 92.14 m.), 50, 60 and 62 Ibs. Chartered Jan. 12, 1882, for 50 years (see MANUAL for 1897, page 275) . Owned by The Atchi- son, Topeka and Santa Fe Ry. Co. (see General Index). Leased July 15, 1898, to the Southern Pacific Co. until Sept. 1, 1979, at an annual rental of $54,646.86 in U. S. gold coin. E. P. Ripley. Pres., Chicago, 111. ; E. Wilder, Sec. & Treas., To- peka, Kan. Office, Topeka, Kan. SO NOR A RY — Nogales to Guaymas, Mex., 262.60 m. ; total track, 280.19 miles. Rail (steel), 45 to 56 Ibs. Owned by The Atchison, Topeka and Santa Fe Ry. Co. (see General Index). Leased July 15, 1898, to the Southern Pacific Co. until Sept. 1, 1979, at an annual rental of $163,486.14 in U. S. gold coin. E. P. Ripley, Pres., Chicago, 111. ; L. C. Deming, Sec., New York, N. Y. ; E. Wilder, Treas, Topeka, Kan. Office, Topeka, Kan. 650 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. T. J. Coolidgej'Jr.. Boston, Mass. Wm.D.Cornish...New York.N.Y. George J. Gould.. " E. H. Harriman Arden. N. Y Edwin Hawley...New York, N.Y. J. H. Schiff NewYorK, N.Y. James Speyer.. . James Stillman. ('ha . H. Tweed. " H.E.Huntington. " 31. Board of Directors, Southern Pacific Co., elected April 9, 1902. James H. Hyde..New York, N.Y. Otto H. Kahn ... " D. O. Mills Winslow S. Pierce. " One vacancy. E. H. HARRIMAN, President New York, N. Y. H. E. Huntington, V 'ice-President San Francisco, Cal. , 2d Vice-President New York, N. Y. John C. Stubbs, 3d V ice-President San Francisco, Cal. J. Kruttschnitt, 4th Vice-Pres., G. Mgr. d Asst. to Pres. " Secretary — Alex. Millar New York, N. Y. Treasurer — N. T. Smith San Francisco, Cal. Asst. Secretary — G. T. Klink..San Francisco, Cal. Asst. Treas. — A.K.Van Deventer.New York, N. Y. Dir. of Purch. — W.V. S. Thome. .New York, N. Y. Controller — William Mahl New York, N. Y. ( 4 Montgomery St., San Francisco, Cal. GENERAL OFFICES -J 120 Broadway, New York, N. Y. ( Natchez and Magazine Sts., New Orleans, La. SOUTHERN PACIFIC SYSTEM. — Proprietary lines operated under leases by Southern Pacific Company. CENTRAL PACIFIC RY.— Length of road (owned, 1,348.38 m.; leased, 10.64 m.), 1,359.02 m.; 2d track, 14.95 m.; sidings, 477.33 m.— total track (steel, 1,726.34 m.), 1,851.30 miles. Gauge, 4 ft. 8y2 in. Rail, 50 to 80 Ibs. Water lines — ferry, San Fran- cisco to Oakland, 3.69 m. ; river line, San Francisco to Sacramento, 125 m. ; Marysville Steamboat line, 190 m. — total, 348.69 miles. Following are the details of railroad mile- ace, first track: Miles. Rosevllle, Cal., to Oregon Line. 296.58 Lathrop to Goshen, Cal 146.08 LEASED LINES (10.64 miles). Union Pacific Ry. : Ogden, Utah, west 1 5.00 Southern Pacific RR. : Brighton to Sacramento, Cal 5.64 LINES OWNED (1,348.38 miles). Miles. Oakland Pier to East Oakland, Cal 4.84 Oakland Pier to Melrose, Cal 8.31 Mastick Station to Alameda Wharf, Cal 1.25 East Oakland to Feruside, Cal 1.98 Oakland to Niles, Cal 26.39 San Jose, Cal., to 5 m. W. of Ogden, Utah. 862.84 Ogden Union Station to U. C. Crossing.... 0.11 History, — Organized under the laws of Utah, July 29, 1899, and acquired title to all the railroads and properties formerly owned by the Central Pacific RR. Co. (see MANUAL for 1900, page 636). The property is leased to the Southern Pacific Co. for 90 years from Jan. 1, 1894, the lessee to pay from the earnings thereof all expenses of operation, fixed and other charges, including sinking funds, and $10,000 a year for organization expenses, any surplus up to 6 p. c. on the capital stock to be paid over to this company, but the lessee to retain one-half of any surplus in excess of 6 p. c. on the capital stock. Rolling Stock, June 30, 1902. — Locomotives, 334. Cars — passenger, 176; dining, 8; chair, 5; baggage and passenger, 30; composite, 5; baggage, mail and express, 62; postal, 28; freight (box, 4,582; flat, 1,918; fruit, 46; furniture, 44; gondola, 757; refrig- erator, 19; stock, 198), 7,564; service, 528 — total, 8,406. Floating Equipment, June 30, 1902. — Ferryboats, 5; car transfer steamers, 2; river steamers, 5 ; tug, 1 ; barges, 4 ; dredges, 2. General Income Account, year ending June 30, 1902. EARNINGS. 1900-01 1901-02 Passenger $5,541,469 29 $6 231 412 67 EXPENSES. 1900-01 1901-02 Maint of Way etc $2 379 0*<6 57 $2,728,271 45 Freight 12,455,150 57 12,598 484 79 Maint of Equip 2,288,258 89 2,331,457 53 Mail * Express 1,043,029 82 1,087,582 35 Miscellaneous 288 639 77 273 631 81 Conducting Transp. . 6,428,692 23 7,080,669 40 General Expenses 577 168 62 419,248 15 Totals $19,328,289 45 $20,191,111 62 Totals $11,673,206 31 $12,559.640 53 Averages p. Mile 14,219 30 14,857 04 Averages p. Mile 8,587 66 9,241 70 Net earnings, 1901-02 (37.79 p. c.), $7,631,465.09; other receipts (trackage rental, $10,000; income from investments, $46,469.90: income from securities and lands not pledged for redemption of bonds, $588,281.83; income from securities owned by sinking funds, $73,939.08; interest on open accounts, $282,278.99), $1,000,969.80— total, $8,632,- 434.89. Payments: Taxes, $413,363.67; trackage rental, $5,000; interest on funded debt, $3,042,601.04; interest on 3 p. c. notes to U. S. of America, $1,180,104.48; land department expenses, $44,635.10; taxes on granted lands, $83,808.23; miscellaneous expenses, $16,948.80; sinking funds, $123,939.08; old accounts charged off and adjusted, $6,314.94_total, $4,916,715.34. Surplus, $3,715,719.55. POOR'S MANUAL — SOUTHERN PACIFIC SYSTEM. 651 Profit and LOSS Account, June 30, 1902. — Balance at credit June 30, 1901, $5,- 436,469.25; surplus income for year, $3,715.719.55; sinking fund contributions and income from sinking fund investments, $123/939.08; proceeds from sale of lands pledged for re- demption of bonds, $314,085.13; profits from sale of bonds and securities exchanged, $157,- 42095; adjustments in accounts, $10,000 — total, $9,757,633.96. Contra: Adjustments in accounts, $10,000; balance at credit June 30, 1902, $9,747,633.96— total, $9,757,633.96. General Balance Sheet, June 30, 1902. Railroad and Franchises $190,362,026 71 Sinking Funds 9,454,78774 Land Grant Accounts 1,051,92078 Trust Funds 8,192 97 Deposited Against Unpres'd Bonds. . 41,200 00 Loans and Bills Receivable 2,17012 Bonds and Stocks Owned 1,546,312 64 Land and Other Property 89,77095 Individuals end Companies 3,993 Unadjusted Accounts Due from Southern Pacific Co 5,063,601 79 Total Assets $207,624,077 30 Common Stock ($100 shares) $67,275,50000 Preferred Stock ($100 shares) 12,000,00000 Funded Debt Outstanding 78,251,50000 3 p. c. Notes in favor U. S. A 39,147,010 07 Matured Bonds Unpresented 26,00000 Current Liabilities : 28,022 30 Deferred Liabilities 87,229 60 Due Southern Pacific RR. Co 9,023 51 Unadjusted Accounts 23708 Deferred Land Payments 1,051,920 78 Profit and Loss 9,747,633 96 Total Liabilities $207,624,077 30 Capital Stock. — The total authorized amount of common stock ($67,275,500) is outstanding; the authorized amount of preferred stock is $20,000,000. The preferred stock is entitled to cumu- lative dividends of 4 p. c. per annum, in gold, and to its pro rata share in any dividends in excess of 4 p. c. on the entire capital. It also has priority over common stock in the event of liquidation or dissolution of the company. No additional mortgage can be put upon the property, nor can the authorized amount of the preferred stock be increased without obtaining the consent of the holders of 75 p. c. of the whole amount of preferred stock and a majority of the whole amount of common stock at the time outstanding. The entire $12,000,000 of preferred stock and $67,274,200 of the common stock are deposited as security for the collateral trust bonds of the Southern Pacific Co. Funded Debt — The funded debt outstanding on June 30, 1902, consisted of $639,000 bonds of Central Pacific RR. Co., not presented for exchange ($515,000 California and Oregon Div. 5s of Jan. 1, 1918 ; $25,000 50-yr. 6s of Oct. 1, 1936, and $99,000 50-yr. 5s of April 1, 1939, the last being guaranteed as to principal and interest by the Southern Pacific Co.), and the following issues of the Central Pacific Ry. Co. (additional particulars will be found in the Ready Reference Bond List — see General Index) : $58,778,000 1st refunding gold 4s of Aug. 1, 1949, secured by mortgage on all the railroads, terminals and equipment formerly owned by the Central Pacific RR. Co., including 1,348.66 miles of flist track and 405.61 miles 2d track and sidings. Unconditionally guaranteed, both prin- cipal and interest, by the Southern Pacific Co., by guaranty endorsed on each bond. The U. S. Government holds $39,808,000 of these bonds ar. collateral for the 3 p. c. notes of the company (see remarks on those notes below). According as these notes aie paid an equivalent amount of the bonds will be returned to the company, and under the provisions of the mortgage they can then be reissued at the same or at a lower rate of Interest. The total authorized issue is $100,000,000. Bonds are reserved for the retire- ment of the undeposited underlying bonds of the Central Pacific RR. Co. Pending the satisfaction of the underlying mortgages, tho outstanding old bonds which have been exchanged are deposited under the mortgage and kept alive as additional security thereunder until not less than 95 p. c. of all the bonds of the same issue at any time outstanding or until not less than 95 p. c. of all outstanding old bond? have been deposited under the mortgage. Under the terms of the mortgage, the refunding mtee. bonds issuable in exchange for outstanding old bonds, are to be issued only as such outstanding old bonds are actually de- posited with the trustee. f 18,834,BOO gold ,3Js of Aug. 1, 1929, secured by mortgage on all the railroads and properties covered by the 1st refunding mortgage, but sub- ject in lien thereto, and by deposit with the trustee (when released from the lien of the prior mortgages) of all securities and moneys held in any sinking fund created or existing by or under any existing mortgage of the Central Pacific RR. Co., or any of its constituent com- panies. The bends are also secured by lien upon all the lands covered by the mortgage securing the land bonds of the Central Pacific RR. Co., dated Oct. 1, 1870 (except in so far as the same shall be released from the lien of that mortgage, in accordance with its provisions), and also upon all notes given in payment for lands covered by said mortgage secxiring said land bonds. All in- come derived from said sinking fund securities, or from said lands, is to be applied primarily to the payment of the current interest on the 3J p. c. gold bonds, and when, such current interest shall have been paid or provided for, to the payment of any fixed charges secured by lien prior to the lien of said 31 p. c. mortgage upon the properties of the company, or any of them (including in- terest on the 3 p. c. notes in favor of the United States) ; but the railway company, at its discretion, so long as no default exists in respect of the principal or interest of said 3J p. c. mtge. gold bonds, may at any time and from time to time sell such securities or lands (free from the lien of the 3J p. c. mortgage), and apply the pro- ceeds thereof, or of any other securities held on deposit under such mortgage, and also collections on account of principal of such securities or notes, and any moneys held as security for such 3J p. c. mtge. gold bonds, while the same shall be purchasable at not above par and accrued interest, otherwise to the purchase and cancella- tion, at the discretion of the railway company, either of the 3J p. c. mtge. gold bonds, or of the 1st refunding mtge. 4 p. c. gold bonds, or of bonds secured by prior lien upon any of its properties. The mortgage contains a provision that no other new mortgage (except to refund the 1st refunding mtge. 4 p. c. gold bonds or the 3i p. c. mtge. gold bonds) is to be made upon the properties covered by said mortgages, respectively, so long as any of such bonds of either class, or any of the 4 p. c. gold bonds of the Southern Pacific Co., are outstanding, and that no other new mortgage (except as afore- said) is to be made by the company upon said properties, except with the assent of the holders of 75 p. c. of the preferred stock and a majority of the common stock at the time outstanding. The bonds are guaranteed, both principal and interest, by the Southern Pacific Co. 652 POOR'S MANUAL OF RAILROADS PACIFIC GROUP. IfoteH to United States Government. — These were issued by the Central Pacific RR. Co. In settlement of its indebtedness to the United States. They are secured by deposit with the Gov- ernment of $39.808,000 of 1st refunding mtge. bonds, and are also secured by a reserve of $3,000,000 collateral trust bonds of the Southern Pacific Co. The notes are for $2,940,635.78 each, due each six months from Aug. 1, 1902, to Feb. 1, 1909, but subject to redemption at any time. They bear interest at the rate of 3 p. c. per annum, payable on the 1st of Feb. and Aug. The note due Aug. 1, 1902, was paid at maturity, and the refunding bonds deposited as collateral thereto were returned to the company and have been sold. Sinking Funds. — Statement showing the condition of the company's sinking funds on June 30, 1902: Income from Investm'ts. Cost of Bonds held as I nv'm'ts. Cash Unin- vested. Sinking Fund No. 6 $ 121,354 43 1 $ t Co Trustee 8 850 00 Sinking Fund No. 10 2,282 28 Sinking Fund No. 11 5,261 95 Sinking Fund for Redemp. of Cent. Pac c. Gold Bonds Ry. 1st Refunding Mtge. 4 p. 806 00 Sinking Fund for Redempt. of Cent. Pac . Ry. 3J p. c. Mtge. Gold Bonds 797 00 Securities and Cash Pledged for 3$ p. c. J itge 9 258 214 66 1,169 08 Total 137,748 66 9,258,214 00 2,772 08 Securities Pledged for 3 1-2 p. c. Mortgage. — Austin and Northwestern RR. 5s, $300,- 000 ; Fort Worth and New Orleans Ry. 6s, $548,000 ; Galveston, Harrisburg and San Antonio Ry. 5s. $1,024,000; Guatemala Central RR. 6s, $1,788,000; Iberia and Vermilion RR. 5s, $322,000; Oregon and California RR. 5s, $400,000 ; Southern Pacific RR. of New Mexico 6s, $1,135,000 ; San Antonio and Aransas Pass Ry. 4s, $600,000 ; Morgan's Louisiana and Texas RR. and SS. Co. gen. 5s, $1,000,000 ; Southern Pacific Co. 6 p. c. steamship bonds, $2,215,000 — total, $9,332,000 ; cost. $9,258,214. Land Grant Account, year ending June 30, 1902. — Receipts: Cash sales, $52,929.92; first payment on time contracts, $34,882.80 ; principal of deferred payment on time sales, $475,223.18 ; interest on deferred payments, $57,180.49 ; timber and stumpage, $6,978 ; lease and pasturage, $20,948; interest on deposits, $1,189.91; cash receipts from other sources, $51,471.91 — total, $700,804.21. Disbursements: Cash paid to trustees, $314,085.13; income from lands applied to interest on 3J p. c. mortgage, $86,296.40 ; land contracts surrendered, $53,761.55 — total, $454,- 143.08. Net receipts, $246,661.13 ; balance from June 30, 1901, $805,259.65 — total balance June 30, 1902, $1,051,920.78. During the year 230 contracts were issued, representing 111,040.84 acres sold, the average price per acre being $5.07. Through contracts surrendered and corrections in survey 16,821.17 acres were returned during the year ; and there remained unsold at the close of the year 6,745,388 acres. (See remarks on 3J p. c. mtge. bonds of Aug. 1, 1929, under " Funded Debt " above.) Trust Fnnd, 3 1-2 p. c. Mtge. Bonds. — Receipts, year ending June 30, 1902 : Cash from land sales paid in full, $52,929.92 ; from sales on deferred payments, $34,882.80 ; principal of de- ferred payments, $174,800.50 ; income from lands, $86,296.40 ; cash received from other sources, $51,471.91 — total, $400,381.53. Applied to payment of interest on bonds, $86,296.40. Balance, $314,085.13 ; balance from June 30, 1901, $396,606.28 — total, $710,691.41. Of this amount $702,- 498.44 has been applied to purchase of $812,000 of the bonds for cancellation and $8,192.97 remains in the hands of the trustee. STOCKS AND BONDS OWNED JUNE 30, 1902. Par Value. Stocks. Valuation. 123.300 Coif ax & Forrest Hill Com. Co. . $2,330 00 160,000 Ogden Union Ry. & Depot Co.... 69,119 28 160,000 Transportation Lines 80,00000 Miscellaneous 3,61750 Total $155.066 78 Bonds. Par Value. C. P. Ry. 1st refunding 4s $811,500 00 C. P. Ry. 3| p. c. mtge 372,625 00 Ogden Union Ry. & Depot Co. 1st 5s 163,000 00 So. Pac. Branch Ry. Co. 1st 6s 25,000 00 Old undeposited bonds, C. P. RR 14,000 00 Total $1.386,125 00 Ledger Valuation 1,391,245x0 Directors (elected April 7, 1903).— E. H. Harriman, Arden, N. Y.; H. E. Hunting- ton, New York, N. Y.; Thomas Marshall, D. B. Hempstead, J. C. Royle, D. R. Gray. Salt Lake City, Utah ; W. H. Chevers, F. J. Kiesel, J. S. Noble, Ogden, Utah. OFFICERS : E. H. HARRIMAN, Pres., Arden, N. Y.; Chas. H. Tweed, Vice-Pres., New York, N. Y.; N. T. Smith, Treas., San Carlos, Cal.; J. L. Willcutt, Sec., San Francisco, Cal.; D. R. Gray, Asst. Sec., Salt Lake City, Utah. GENERAL OFFICE, San Francisco, Cal. OREGON AND CALIFORNIA RE.— Portland, Ore., to California Line, 366.61 m.; Portland to Corvallis, Ore., 96.52 m. ; Woodburn to Natron, Ore., 92.96 m. ; Albany Junc- tion to Lebanon, Ore., 11.50 m. ; Portland to Airlie, Ore., 79.27 m. ; Sheridan Junction to Sheridan, Ore., 7.18 m. ; Mohawk Junction to Wendling, Ore., 15.95 m. — total, 669.99 m.; total track (steel, 698.62 m.), 766.89 miles. Gauge, '4 ft. 8y2 in. Rail, 40 to 62 Ibs. The company leases from the Northern Pacific Terminal Co., trackage rights through the POOR S MANUAL SOUTHERN PACIFIC SYSTEM. 653 terminal grounds at Portland, Ore., 1.72 miles, making a total of 671.71 miles of road operated. History. — Chartered March 17, 1870, as successor of the Oregon Central RR. Co. of Salem, which was organized April 22, 1867. The Oregonian and the Portland and Yamhill RRs. were purchased July 31, 1893 (see MANUAL for 1893, page 1021). Leased for 34 years from Aug. 1, 1893, to the Southern Pacific Co. "By the terms of this lease the net earnings or income, after payment of all fixed charges, is to be applied by the lessee company to the payment of interest on the bonded indebtedness of the lessor company, which company shall be entitled to the residue of such net earnings up to 7 p. c. on preferred and 6 p. c. on the common stock, any excess of such amounts to be retained by the lessee. Should the excess of net earnings or income be insufficient to pay the interest, as aforesaid, then and in such event it shall be optional with the lessee company to make good the deficiency. Should it do so it may reimburse itself for such deficiencies or advances out of subsequent earnings, with interest at 6 p. c. per annum, the secu- rity therefor to be a lien on the property and income of the lessor company. The lessee company guarantees the payment, principal and interest, of the bonds already issued, or that may be issued thereafter, under a mortgage bearing date July 1, 1887, from the lessor company to the Union Trust Company of New York." Rolling Stock, June 30, 1902. — Locomotives, 45. Cars — passenger, 38; baggage and passenger, 3; baggage, mail and express, 19; freight (box, 491; flat, 385; fruit, 2; furniture, 8; stock, 20), 906; service, 101 — total, 1,067. General Income Account, year ending June 30, 1902. EARNINGS. 1900-01 Passenger $1,224,687 30 Freight 1,497,084 08 Mail and Express. . . 155,317 43 Miscellaneous 53,000 05 1901-02 $1,528,678 51 1,771,977 80 178,544 82 25,710 25 EXPENSES. Maint. of Way, etc.. . Maint. of Equip .... Transportation .... General Expenses . . 1900-01 $640,114 99 308,006 10 1,119,266 90 84,011 06 1901-02 $690,362 74 329,231 93 1,378,765 84 75,445 87 $3.504,911 38 Totals $2,151,399 05 $2,473,806 38 5,217 89 Averages per Mile . 3,202 87 3,682 85 Totals $2,930,088 86 Averages per Mile . 4,362 13 Net earnings, 1901-02 (29.42 p. c.), $1,031,105; other receipts, $14,989.99— total, $1,046,094.99. Payments: Taxes, $98,318.37; interest on funded debt, $977,475; other interest, $181,137.24; land department expenses, $1,700.73; taxes on granted lands, $1,162.56; miscellaneous expenses, $780.12 — total, $1,260,574.02. Deficit, $214,479.03; deficit to June 30, 1901, $6,404,123.25; adjustments in accounts, $1,576; premium on bonds purchased and cancelled, $10,875 — total, $6,631,053.28. Deduct proceeds from sale of lands. pledged for redemption of bonds, $343,485.96. Balance, deficit June 30, 1902, $6,- 287,567.32. General Balance Sheet, June 30, 1902. — Capital stock ($7,000,000 common, $12,- 000,000 preferred; $100 shares), $19,000,000; funded debt (1st gold 5s of July 1, 1927, guaranteed as to principal and interest by the Southern Pacific Co.), $19,357,000; cur- rent liabilities, $1,345.14; due Southern Pacific Co., $4,985,790.06; individuals and com- panies, $26,731.79; unadjusted accounts, $66,217.96; deferred payments on land contracts, $2,348,225.79— total, $45,785,310.74. Contra: Cost of road and franchises, $36,956,868.51 ; land grant account, $2,348,225.79; trust fund, $29,463.63; current assets, $24,784.48; land and other property, $110,192.81; individuals and companies, $28,208.20; profit and loss, $6,287,567.32— total, $45,785,310.74. Land Grant. — The company has a Congressional grant, estimated to be, under the various charters, about 4,700,000 acres, of which there had been patented to the company up to June 30, 1902, 2,860,368.53 acres. Total sales for year ending June 30, 1902, were 177,989.61 acres, at an average of $7.85 per acre. Acreage returned with cancelled contracts, 5,206.25. Remaining un- sold, June 30, 1902, 2,671,639 acres. Land Grant Account. — Receipts, year ending June 30, 1902 : Cash sales, $91,915.62 ; first payment on time contracts, $91,567.98 ; principal of deferred payment on time sales, $1,209,- 708.05 ; interest on deferred payments, $82,763.28 ; timber and stumpage, $511.70 ; interest on deposits, $5,986.44 ; cash receipts from other sources, $1,846 — total, $1,484,299.07. Disburse- ments : Cash paid to trustees, $343,485.96 ; land contracts surrendered, $20,788.92 ; receipts applied to payment of expenses, $100,742.81 — total, $465,017.69. Net receipts, $1,019,281.38 ; balance from June 30, 1901, $1,328,944.41 — total balance June 30, 1902, $2,348,225.79. Trust Fund, 1st Mtsre. 5 p. c. Honda. — Receipts, year ending June 30, 1902: Cash land sales, $91,915.62 ; cash from sales made on deferred payments, $91,567.98 ; principal of deferred payments collected, $169,637.75; interest on deferred payments, $82,763.28; income from lands, $511.70; cash receipts from other sources, $7,832.44 — total, $444,228.77. Disbursements: Applied to payment of interest on bonds, $10,875 ; land department expenses and taxes, $100,742.81 — total, $111,617.81. Net receipts, $332,610.96; balance from June 30, 1901, $349,084.57 — total balance, June 30, 1902, $681,695.53. Of this amount $633,075 has been applied to purchase of $643,000 1st mtge. bonds for cancellation, $29,463.63 is in the hands of the trustee and $19,156.90 represents cash in the hands of the company. Directors, (elected April 14, 1903). _E. H. Harriman, Arden, N. Y.; H. E. Hunting- ton, New York, N. Y.; W. E. Coman, L. R. Fields, W. D. Fenton, George H. Andrews, 654 POOR S MANUAL OF RAILROADS — PACIFIC GROUP. John McCracken, R. Koehler, \\ . \V. Bretherton, Portland, Ore.; N. T. Smith, J. Kruttschnitt, San Francisco, Cal. OFFICERS: E. H. HARRIMAN, Pres., Ardcn, N. Y. ; J. Kruttschnitt, Vice-Pres., San Francisco, Cal.; R. Koehler, 2d Vice-Pres., Portland, Ore.; N. T. Smith, Treas., San Francisco, Cal.; F. G. Ewald, Asst. Trcas., Portland, Ore.; A. K. Van Deventer, Asst. Treas., New York, N. Y. ; Geo. H. Andrews, Sec., Portland, Ore. ; Alex. Millar, Asst. See., New York, N. Y. GENERAL OFFICE, Portland, Ore. SOUTHERN PACIFIC RR.— Length of lines (owned, 3,260.31 m.; leased, 7.24 m.), 3,267.55 m.; 2d track (owned, 52.75 m.; leased, 3.52 m.), 56.27 m.; sidings, 846.17 m.—total track (steel, 3,614.23 m.), 4,169.99 miles. Gauge, 4 ft. 8y2 in. and (36.50 m.) 3 ft. Rail, 25 to 96 Ibs. Following are the details of lines operated: Lines Owned (3,260.31 m.) : Miles. San Francisco to Tres Pinos 100.49 Alcalde to Mojave 202.18 Mojave to Yuma 349.17 Mojave to Needles »242.51 East bank Colorado River, A. T., to east bank of Rio Grande, N. M 560.35 Carnadero to Salinas City 35.10 Salinas City to San "Miguel 90.89 Los Angeles to San Pedro 24.65 San Miguel to Saugus 239.95 Stockton to Milton 25.82 Baden to South San Francisco 1.51 San Bruno to South San Francisco 2.16 Hillsdale to New Almaden 7.71 Pajaro to Santa Cruz 21.20 Aptos to Monte Vista 4.78 Castroville to Lake Majella 19.55 Avon to San Ramon 20.27 Near Martinez to Armona 193.27 Collis to Fresno 15.15 Peters to Merced 57.99 Berenda to Raymond 21.00 Fresno to Pollasky 24.11 Fresno to Famoso 102.28 Bakersfleld to Olig 50.01 Burbank to Chatsworth Park 21.62 Clement June, to Port Los Angeles 17.S7 Soldiers' Home Branch 2.97 San Pedro to Point Fermin 2.92 Florence to Santa Ana 28.26 Miraflores to Tustin 11.70 Studebaker to Whittier 5.91 Long Beach to Thenard 4.02 Shorb to Pasadena 4.83 Shorb to Duarte 13.71 Anaheim to Los Alamitos 10.08 Ontario to Chino 5.78 Declez to Declezville 2.55 Miles. San Bernardino to Riverside 11.09 Redlands June, to Graf ton 7.19 Riverside Extension 1.47 Bassett to Pomona 17.40 Pomona June, to Chino 4.43 Montalvo to west end of Simi Tunnel 37.70 Salinas to Salinas Sugar Factory 2.82 San Buenaventura to Nordhoff 15.13 Goshen to Exeter 16.79 Anaheim Extension 1.70 Anaheim to Loara Junction 2.59 Surf to Lampoc 10.36 Guadalupe to Betteravia 3.62 Madera to end of track 3.91 Santa Ana to Newport Beach 11.71 Newport Beach to Smeltzer 10.76 Oil Junction to Oil City 6.38 Treadwell Junction, North 2.46 West Oakland to near Martinez 31.04 Benicia to Suisun 16.35 Woodland to Tehama 100.84 Shell Mound to Berryman 3.80 Willows to Fruto 16.84 Elmira to Rumsey 51.39 Napa Junction to Santa Rosa 36.95 Sacramento to Placerville 59.73 Gait to lone 27.21 Woodbridge to Valley Springs (n. g.)... 29.26 West Oakland to West Berkeley 4.16 16th Street, Oakland, to Shell Mound 1.55 Fair Oaks June, to Fair Oaks Bridge 2.14 Oroville to Knight's Landing 53.72 Vallejo to Sacramento . 60.39 Davis to Knight's Landing 18.64 Napa Junction to Calistoga 34.48 Leased: San Bernardino to Motor Jc.(n.g-) 7.24 Total mileage operated 3,267.66 Leased to The Atchison, Topeka and Santa Fe Ry. Co. History.— Consolidation, March 10, 1902, of the Southern Pacific RR. Co. of Cali- fornia, the Southern Pacific RR. Co. of Arizona and the Southern Pacific RR. Co. of New Mexico (see MANUAL for 1902, page 606). Operated by the Southern Pacific Co. under a lease, the terms of which have not been made public. The Southern Pacific Co. owns more than 90 per cent, of this company's capital stock. Rolling Stock, June 30, 1902. — Locomotives, 446. Cars— passenger, 293; dining, 11; chair, 6; composite, 4; baggage and passenger, 35; baggage, mail and express, 121; postal, 8; freight (box, 6,602; flat, 2,669; stock, 748; fruit, 659; furniture, 151; gondola, 475; oil tank, 226; refrigerator, 21; pit, 2; tank, 493), 12,046; service, 1,002— total, 13,526. General Income Account, year ending June 30, 1902. EARNINGS. Passenger Freight Mail and Express. . Miscellaneous. . . . 1900-01 $6,917,899 17,501,307 809,372 393,543 70 30 79 01 58 19 1901-02 143,078 153,191 907,352 383,844 49 83 23 31 EXPENSES. Maint. of Way, etc.. . Maint. Equip 1900-01 $3,288,455 43 2.634,077 92 7,946,650 18 696,493 42 1901-02 $4,069,040 72 3,440.403 50 8.468.289 27 555,655 64 Transportation . . . . General Expenses . . Totals $25,622,122 8,454 80 3G $28,587,466 9,450 86 28 $14,565,676 4,806 95 14 $16,533,389 5,465 13 51 Averages per Mile. Totals Averages per Mile . Net earnings, 1901-02 (42.16 p. c.), $12,054,077.73; other receipts (trackage rentals, $223,133; income from securities and lands not pledged for redemption of bonds, $35,- 076.89; income from securities owned by sinking funds, $298,570.60; interest on open accounts, $329,861.78; miscellaneous, $7,189.42), $893,831.69— total, $12,947,909.42. POOR 8 MANUAL — SOUTHERN PACIFIC SYSTEM. 655 Payments: Taxes, $805,668.77; interest on funded debt, $5,179,602.49; land department expenses, $31,242.19; taxes on granted lands, $37,599.99; miscellaneous expenses, $20,- 772.62; sinking funds, $688,570.60; surveys, $4,004.74 — total, $6,767,461.40. Surplus, $6,180,448.02; deduct for adjustment under lease, $810,705.74; balance to profit and loss account, $5,369,742.28. Profit and LOSS Account, June 30, 1902.— Balance at credit June 30, 1901, $32,294,407.33; balance of income for year, $5,369,742.28; sinking funds, $688,570.60; proceeds from sale of lands pledged for redemption of bonds, $778,968.55; profit from sale of bonds and securities exchanged, $174,858.26; miscellaneous collections, $7,643.37; adjustments in accounts, $2,425 — total, $39,316,615.39. Debit: Miscellaneous expense, $48,570.28; balance to credit of general account, June 30, 1902, $39,268,045.11 — total, $39,316,615.39. General Balance Sheet, June 30, 1902. Cost of Road and Franchises $243,166,967 61 Expenditures for New Lines 2,600,01975 Sinking Funds 5,697,92048 Land Grant Accounts 2,036,250 97 Trust Funds 1,165,047 17 Dep. Ag't Bonds Satisfied of Mtge. . 1.600 00 Current Assets 53 50 Stocks Owned (Deferred Assets) 73595 Due from C. P. Ry. Co 9,023 51 Due from Southern Pacific Co 8,547,453 48 Total Assets $263,225.072 42 Capital Stock ($100 shares) $128,307,96000 Funded Debt Outstanding 93,357,000 00 Matured Bonds Unpresented. Current Liabilities Deferred Debts Sinking Funds Uninvested. Unadjusted Accounts Deferred Land Payments. 1,000 00 23,924 67 6,307 50 63,775 46 160,808 71 2,036,250 97 Profit and Loss 39,268,045 11 Total Liabilities $263,225,072 42 Funded Debt. — The funded debt outstanding, June 30, 1902, consisted of the following issues of bonds (additional particulars will be found in the Ready Reference Bond List — see Gen- eral Index) : 93O,217,5OO 1st gold 6s of 1875, in six series — "A" for $12,637,500, due April 1, 1905; "B" for $4,525,000, due Oct. 1, 1905 ; "C," for $4,016,000, and "D," for $3,915,000, both due Oct. 1. 1906 ; "E," for $3,160,000, and "F," for $1,964,000, both due April 1, 1912. Bonds of all classes are equally secured by mortgage on the land grant and on 1,044.99 miles of road, as follows : San Francisco to Tres Pinos, 100.49 m. ; Huron to east bank of Colorado River, near Yuma, 530.79 m. ; Los Angeles to San Pedro, 24.65 m. ; Carnadero to San Miguel, 125.99 m. ; Mojave to Needles, 242.51 m. ; Huron to Al- calde, 20.56 miles. There is a sinking fund of $100,000 a year for the redemption of bonds at "or under par, but if they cannot be got at that price the fund is invested. The gross receipts from land sales are also applied to the purchase of bonds at the lowest price for which they can be obtained. f3,533,OOO Southern Pacific Branch Ry. 1st gold 6s of April 1, 1937, secured by mortgage on the property formerly of the Southern Pacific Ry. Co. (see Manual for 1888, page 1105). There is a sinking fund of $50,000 per annum, but bonds can- not be drawn. Guaranteed, both principal and interest, by the Southern Pacific Co. $5OO,OOO Stockton and Copp-jropolis RR. 1st gold 5s of Jan. 1, 1905, secured by mortgage on the line from Stockton to Copperopolis, Gal., 32.65 miles, and branch from Peters to Milton, 11.99 miles. Guaranteed, both principal and interest, by the Southern Pacific Co. $1,OOO Southern Pacific RR. consol. 5s of Oct. 1, 1938, secured by a lien, subject to prior mort- gages, on the entire property owned by the com- pany at the time of executing the 1st consoli- dated mortgage, except the Mojave Division. The amount authorized was $38,000,000, and $32,932,000 of the bonds were issued, but all except $1,000 have been retired by issue of 1st consol. mtge. bonds. Guaranteed, both principal and interest, by the Southern Pacific Co. $27,125,OOO Southern Pacific RR. 1st consol. gold 5s of Nov. 1, 1937, secured on the entire prop- erty of the company, except the Mojave Division, but subject to prior liens, a sufficient amount of the bonds being reserved for the satisfaction of such prior liens. If payment is received under the contract for sale of the Mojave Division to The Atchison, Topeka and Santa Fe Ry. Co., the amount so received is to be applied to purchase of bonds under this mortgage ; but if The Atchi- son, Topeka and Santa Fe Ry. defaults in its ob- ligations under the contract and the contract of sale thereby terminates, then this mortgage shall also cover the Mojave Division. The total amount of bonds is limited to $30,000,000, exclusive of the bonds to be issued against underlying securities. It is provided that no prior mortgages shall be extended beyond their maturity, so that these bonds will eventually become a first lien upon the company's property. All prior lien bonds ex- changed for these shall be held in trust ap col- lateral security for this mortgage until all the outstanding bonds issued under each of the prior mortgages shall have been retired. By agree- ment with the holders thereof a majority of the bonds outstanding are stamped with a notice to the effect that the coupons thereof, in addition to being payable in United States gold coin in New York, are also payable in Berlin and in Frankfort-on-the-Main at the rate of M. 4.20 per dollar, and that the Southern Pacific RR. Co. re- serves the right to redeem the principal at 107i p. c. and accrued interest on or after April 1, 1905, on four weeks' prior notice. In case the company shall increase the aggregate amount of its mortgage indebtedness by the execution of any additional mortgage, except for newly ac- quired property, the bonds made redeemable at 107J and accrued interest on and after April 1, 1905, shall be included among the bonds secured by such additional mortgage, and shall be en- titled to participate pro rata in the security giv- en by the additional mortgage, but in determin- ing the amount of mortgage indebtedness, any mortgage indebtedness held as security for other mortgage indebtedness shall not be counted (for provisions of supplementary mortgages see Man- ual for 1901, page 640). There is a sinking fund of $20,000 a year until and including the year 1912, and of $120,000 a year thereafter, the fund to be invested in good securities or used to redeem the bonds by purchase at the lowest price for which they can be obtained. The coupon bonds of this issue, amounting to $27,093,000 on June 30, 1901, are guaranteed by the Southern Pacific Co., both as to principal and interest. $3,15." Gal., Har. A San Ant. Ry. 1st 5's . Texas A N. 0. Ry. Consol. 5's San Ant. A Ar. Pass Ry. 1st 4's Ore A Cal RR 1st 5's 290,000 69,000 450,000 104000 271,250 00 71,415 00 407,746 93 109200 00 T. A N. 0. RR. Dallas Div. 4's .... 137,000 137.000 00 Totals. . . 1.050.000 996.611 93 Sinking Fund "E." Texas A N. 0. RR. Consol. 5's. . . Ore. A Cal. RR. 1st 5' s T. A N. 0. RR. Dallas Div. 4's. . . Totals Sinking Fund "F.'1 Gal., Har. A San Ant. Ry. 1st 5's Ore. ACal.RR. 1st 5's T. A N.O.RR. Dallas Div. 4's... Totals Sinking Fund "G " Ore. ACal.RR 1st 5's T. A N.O.RR. Dallas Div. 4's... Totals Sinking Fund "H" So. Pac. RR. of Ariz. 1st 6's Ore. A Cal. RR. 1st 5' s T. A N.O.RR. Dallas Div. 4's... Totals Sinking Fund "/" Gal., Har. A San Ant. Ry. 1st 5's Ore. A Cal. RR. 1st 5's T. A N. 0 RR. Dallas Div. 4's . . Totals. . . Par Value. $ 19,000 28,000 36,000 145,000 17000 9.000 16.5,000 104.000 138000 Cost. $ 19,665 00 29,400 00 36,000 00 83,000 85.065 00 139.071 67 17,8.50 00 9.000 00 171,000 165.921 67 14,000 16,000 30,000 30,700 00 14.700 00 16,000 00 165.716 25 109,200 00 138.000 00 407,000 412.916 25 795,000 775,941 67 127,000 133.3.50 00 168,000 168,000 00 1,090,000 1,077,291 67 Land Grant Account. — Receipts, year ending June 30, 1902. — Land sales (sales for cash, $699,395.75; first payment on time contracts, $10,667.91; principal of deferred payments, $42,- 229.86; interest on deferred payments, $21,144.33), $773,437.85; timber and stumpage, $170.25; lease and pasturage, $34,289.14 — total, $807,897.24. Disbursements : Cash paid to trustee of 6 p. c. bonds of 1875, $779,174.53 ; land contracts surrendered, $54,078.43 ; land contracts cancelled, $1,365.96 ; expenses of land department, $34,459.39 — total, $869,078.31. Deficit, $61,181.07 ; sur- plus to June 30, 1901, $2,097,432.04 ; net surplus, representing principal of deferred payments, $2,036,250.97. Sales during the year amounted to 171,360.48 acres, the average price per acre be- ing $4.39. Acres unsold June 30, 1902, 4,866,396.04. In a suit between the United States and the Southern Pacific RR. Co. (of California) for the recovery by the United States of lands embraced in the conflict between the Southern Pacific and the Atlantic and Pacific land grants, the Southern Pacific lost title to about 1,986,395 acres of land heretofore included in the statement of acreage in litigation. The title to about 453,280 acres of land (not Included in acreage unsold, as above) is still unsettled. POOR S MANUAL SOUTHERN PACIFIC SYSTEM. 657 Sinking Funds, — Statement showing the condition of the company's sinking funds on June 30, 1902: Total Re- ceipts to .June 30, 1902. Bonds Purchased and Cancelled. Bonds Purchased for Investment. Cash Uninvested June 30, 1902. Southern Pac. RR. 6 p. c. of 1875 ("A") $ 3,043,404 32 266,203 45 84,203 81 1,196,390 29 85,718 43 166,141 19 31,145 75 413,647 93 1,078,085 64 $ 502,000 00 48,875 00 20,235 00 191,911 99 $ 2,552,536 84 217,100 00 S Dr. 11,132 62 228 46 63,968 81 7,866 37 653 43 219 52 445 75 731 68 793 97 Southern Pac. Branch Ry. 6 p. c. ("B") Southern Pac. RR. 5 p. c. of 1893 ("C") Northern Railway 6 p. c. (" D ") 996,611 93 85,065 00 165,921 67 30,700 00 412,916 25 1,077,291 67 Northern Railway 5 p. c. ("E") California Pac. RR. 1st, 2d and 3d Mtges. ("F") . . . Northern California Ry. 5 p. c. ("G") Southern Pac. RR. (of Ariz.) 6 p. c. ("H") Southern Pac. RR. of New Mexico 6 p. o. ("I ")•••• Total 6,364,940 81 763,021 99 5,538,143 36 63,775 46 Trnst Fund, 6 p. c. Bonds of 1875 — Balance in fund June 30, 1901, $9,034,183.22 ; receipts during year (land sales, $779,174.53; other sources, $7,189.42), $786,363.95 — total, $9,820,547.17. Of this amount $8,655,500 has been applied to the purchase of bonds for cancella- tion and $1,165,047.17 remains in the hands of the mortgage trustees. Directors, S. P. RR. Co. (elected April 14, 1903).— E. H. Harriman, Arden, N. Y.; Wm. Sproule, J. Kruttschnitt, N. T. Smith, Wm. F. Herrin, J. W. Hellman, Homer S. King, Alvinza Hayward, James K. Wilson, J. L. Willcutt, San Francisco, Cal. ; J. S. Slauson, Los Angeles, Cal. OFFICERS: E. H. HARRIMAN, Pres., Arden, N. Y.; J. Kruttschnitt, 2d Vice-Pres.; N. T. Smith, Treas.; J. L. Willcut, Sec., San Francisco, Cal.; A. K. Van Deventer, Asst. Treas.; Alex. Millar, Asst. Sec.; Wm. Mahl, Controller, New York, N. Y. GENERAL OFFICE, 4 Montgomery Street, San Francisco, Cal. SOUTH PACIFIC COAST RY.— Alameda to Santa Cruz, Cal., 77.6 m.; Alameda Junction to 14th Street, Oakland, 1.9 m.; Newark to Centerville, Cal., 3 m. ; Campbells to New Almaden, Cal., 9.6 m. ; Felton to Boulder Creek, Cal., 7.3 m. ; Big Tree Junction to Old Felton, Cal., 1.7 m. — total, 101.1 m. ; 2d track, 8.52 m.; sidings, 43.29 miles. Gauge, 4 ft. 8% in. Bail (steel, 102.83 m.), 50 to 75 Ibs. The company operates a ferry between San Francisco and Alameda, 3 miles. History. — Consolidation, May 23, 1887, of the South Pacific Coast, the Santa Cruz and Felton, the Bay and Coast, the Oakland Township, the San Francisco and Colorado River, the Felton and Pescadero, and the Almaden Branch RR. Cos. (see MANUAL for 1888, page 951). The road is leased to the Southern Pacific Co. from July 1, 1887. The lessee pays all expenses and charges, including cost of betterments and additions, and receives all the income from the property. Rolling Stock, June 30, 1902. — Locomotives, 21. Cars — passenger, 66; parlor, 2; baggage and passenger, 6; baggage, mail and express, 9; freight (box, 233; flat, 392), 625; service, 17— .total, 725. General Income Account, year ending June 30, 1902. EARNINGS. Passenger 1900-01 $552,027 54 1901-02 $585,182 07 EXPENSES. Maint. of Way, etc.. . 1900-01 $185,735 45 1901-02 $192,398 50 Freight 297,065 26 283,918 39 Maint. of Equip. . . . 147,064 16 200,481 93 Mail and Express. . . 25,807 51 36,773 49 24,440 78 30,947 11 Transportation .... General Expenses . . 483,612 74 30,520 06 521,416 94 21,965 89 Totals $911,673 80 $924,488 35 Totals $846,932 41 $936,263 26 Averages per Mile. 9,017 90 9,144 66 Averages per Mile. 8,377 51 9,261 13 Deficit from operation, 1901-02, $11,774.91; taxes, $28,260.05; interest on funded debt, $220,000; other interest, $8,476.04; construction, improvement and real estate, $167,185.14; new equipment, $64.97— total deficit, $435,761.11. This deficit has been assumed by the lessee. General Balance Sheet, June 30, 1902. — Capital stock, $6,000,000; funded debt (1st gold 4s of July 1, 1937, guaranteed as to principal and interest by the Southern Pacific Co.), $5,500.000 — total, representing cost of property, $11,500,000. The Southern Pacific Co. owns $5,993,000 of the capital stock. Directors (elected June 5, 1902).— E. H. Harriman, Arden, N. Y.; J. Kruttschnitt, J. L. Willcutt, Wm. F. Herrin, San Francisco, Cal.; J. C. Stubbs, Chicago, 111.; H. 658 Poult's MANUAL OF RAILROADS — PACIFIC GROUP. E. Huntington, New York, N. Y. ; N. T. Smith, San Francisco, Cal. OFFICERS: E. H. HARRIMAN, Pres., Arden, N. Y. ; J. Kruttschnitt, Vicc-Prcs.; J. L. Willcutt, Mec.; N. T. Smith, Treas., San Francisco, Cal. GENERAL OFFICE, San Francisco, Cal. SOUTHERN PACIFIC SYSTEM Proprietary railroads and steamship lines operated by their own organizations. GAESON AND COLORADO RY.— Mound House, Nev., to Kceler, Cal., 293.62 in.; Junction to Candelaria, Nev., 6 m. — total, 299.62 miles; total track (steel; 35 Ibs), 320 miles. Gauge, 3 ft. History. — Chartered Feb. 27, 1892, and on Aug. 2, 1892, purchased the property of the Carson and Colorado RR. Co., Carson and Colorado RR. Co., 2d Division, and the Carson and Colorado RR. Co., 3d Division (see MANUAL for 1893, page 99.) Con- trolled by the Southern Pacific Co., through ownership of its stock and bonds, but operated by its own organization. Rolling Stock, June 30, 1902. — Locomotives, 8. Cars — passenger, 4; baggage, mail and express, 3 ; freight ( box, 53 ; flat, 80 ; gondola, 8 ; tank, 6 ; refrigerator, 1 ; other, 1), 149; service cars, 10 — total cars, 166. Income Account, year ending June 30, 1902. — Gross earnings — Passenger, $81,- 209.39; freight, $245,460.76; mail and express, $19,961.21; miscellaneous. $1,240.88— total ($1,161.05 per mile), $347,872.24. Operating expenses — Maintenance way and structures, $37,686.60; maintenance of equipment, $15,557.63; conducting transportation, $68,871.01; general expenses, $424.15 — total ($408.98 per mile), $122,539.39. Net earnings (64.77 p. c.), $225,332.85; other receipts, $5,781.88— total, $231,114.73. Pay- ments: Interest on funded debt, $80,000; taxes, $16,803.87— total, $96,803.87. Surplus, $134,310.86. Deficit forward, $6,648.23. Net surplus, $127,662.63. General Balance Sheet, June 30, 1902.— Capital stock ($6,300,000 auth.; $100 shares), $4,380,000; funded debt (1st gold sinking fund 4s of July 1, 1941), $2,000,000; current liabilities, $128,228.67; profit and loss, $127,662.63— total, $6,635,891.30. Contra: Cost of road and equipment, $6,379,556.18; current assets, $45,567.05; due from Southern Pacific. Co., $210,247.88; unadjusted accounts, etc., $520.19 — total, $6,- 635,891.30. Directors (elected June 5, 1903) — E. H. Harriman, Arden, N. Y.; H. E. Hunting- ton, New York, N. Y. ; R. J. Laws, Sacramento, Cal. ; N. T. Smith, J. Kruttschnitt, Wm. F. Herrin, Wm. Hood, James Agler, J. L. Willcutt, San Francisco, Cal. OFFICERS: E. H. HARRIMAN, Pres., Arden, N. Y. ; J. Kruttschnitt, Vice-Pres.; J. L. Willcutt, Sec.; N. T. Smith, Treas., San Francisco, Cal. GENERAL OFFICE, San Francisco, Cal. CROMWELL STEAMSHIP CO.— This company operates a line of four steamships between New York and New Orleans. It is controlled by the Southern Pacific Co. through ownership of its capital stock, but is operated as a separate organization. Income Account, year ending June 30, 1902. — Gross earnings, $708,771.20. Operat- ing expenses, $811,994.43. Loss from operations, $103,222.23; paid interest on unfunded debt, $50,705.57; old accounts charged off, $20,525.59 — deficit for -year, $174,454.39. Deficit forward, $441,559.96; add miscellaneous expenses, $12,499.72; adjustments in accounts, $85,611.41— total, $539,671.09. Total deficit June 30, 1902, $714,125.48. Balance Sheet, June 30, 1902.— Capital stock, $1,000,000; loans and bills payable, $2,394.32; vouchers and pay rolls, $30,185.98; due to S. P. Co., ?1,310,729.74; contingent liabilities, $37,326.61 — total, $2,380,636.65. Contra: Cost of property and franchises, $1,568,823.67; materials, etc., $6,523.03; current accounts, $49,017.33; cash, $11,069.04; unadjusted accounts, $30,478.10; profit and loss, $714,125.48— total, $2,380,636.65. Directors (elected Dec. 16, 1902) E. H. Harriman, Arden, N. Y.; Wm. D. Cor- nish, Maxwell Evarts, Edwin Hawley, W. V. S. Thome, New York, N. Y. OFFICERS: WM. D. CORNISH, Pres.; W. V. S. Thome, Vice-Pres.; Joseph Hellen, See.; A. K. Van Deventer, Treas., New York, N. Y. GENERAL OFFICE, New York, N. Y. DIRECT NAVIGATION CO. (THE).— The charter of the Houston Direct Navigation Co. having expired by limitation, the property was purchased by this com- pany on June 1, 1896. Operates water lines between Houston and Galveston, Tex., 75 miles. Equipment consists of 3 tugs, 9 barges, 1 derrick boat, 1 pile driver and 1 pile driver barge. Income Account, June 30, 1902. — Gross transportation receipts, $156,643.82; other income, $1,918.07— total, $158,561.89. Operating expenses, $157,828.18; taxes, $1,514.31; POOR S MANUAL SOUTHERN PACIFIC SYSTEM. 659 interest on bonds, $5,000— total, $164,342.49. Deficit for year, $5,780.60; deficit forward, $41,300.36— total, $47,080.96. General Balance Sheet, June 30, 1902 — Capital stock, $50,700; funded debt (5 p. c. note, due Aug. 1, 1936), $100,000; current liabilities, $11,410.21; taxes assessed not due, $1,100; due other companies in the system, $152,998.74; other liabilities, $7.15; replacement fund, $47,231.85 — total, $363,447.95. Contra: Cost of road and franchises, $150,648.46; cash, $4,402.69; current assets, $3,002.92; due from other companies, $147,- 328.01; due from Southern Pacific Co., $7,423.45; contingent assets, $3,200.96; un- adjusted accounts, $360.50; profit and loss, $47,080.96 — total, $363,447.95. Directors (elected July 1, 1902) W. B. Chew, C. H. Markham, W. G. Van Vleck, R. S. Lovett, L. Meggett, C. B. Seger, B. C. Cushman, Houston, Tex. OFFICERS: C. H. MARKHAM, Pres.; W. G. Van Vleck, Vice-Pres.; B. C. Cushman, Sec. & Treas., Houston, Tex. ; A. K. Van Deventer, Asst. Sec. & Asst. Treas., New York, N. Y. GENERAL OFFICE, Houston, Tex. GALVESTON, HARRISBURG AND SAN ANTONIO RY. —Houston to east bank Rio Grande, El Paso, Tex., 833.41 m.; Spofford to Eagle Pass, Tex., 35.05 m.; Har- wood to Gonzales, Tex., 12.3 m. ; Smith's June, to La Grange. Tex., 28.5 m. ; Stella to Harrisburg, Tex., 7.74 m total, 917 miles; total track (steel, 1,006.86 m.), 1,106.10 miles. Rail, 56 to 60 Ibs. Gauge, 4 ft. 8y2 in. History. — Chartered as Buffalo, Bayou Brazos and Colorado Ry. Co. ; charter amended in 1870 and present name adopted (see MANUAL for 1888, page 933). This road is controlled by Southern Pacific Co. through ownership of capital stock, but is operated by its OAvn organization. Rolling Stock, June 30, 1902. — Locomotives, 158. Cars — passenger, 29; chair, 8; baggage, etc., 28; business, 4; freight (box, 1,851; caboose, 93; flat, 871; gondola, 427; refrigerator, 39; stock, 186), 3,467; service, 295— total, 3,831. Operations, year ending June 30, 1902. — Train mileage — passenger, 1,031,653 m.; freight. 3,566,601 m. ; mixed, 30,978 m. — total, 4,629,232 miles. Passengers carried, 416,792; carried one mile, 62,567,541; average mile rate, 1.93 cents. Tons freight moved, 2,471,396; tons moved one mile, 1,003,183,721; average ton-mile rate, 0.55 cent. EARNINGS. Passenger 1900-01 $1,039,804 86 1901-02 $1,206,889 30 EXPENSES. Maint. of Way, etc.. . 1900-01 $1,119, -529 14 1901-02 $1,183,948 75 5,348,169 72 5,521,006 18 Maint. of Equip. . . . 676000 62 846,994 86 Mail and Express. . . Miscellaneous 213,139 60 97,178 58 210,744 37 209,184 61 Conducting Transp. . General Expenses . . 3,469,660 82 140,495 29 3,654,599 03 141,997 48 Totals $6 698 292 76 $7 147 824 46 Totals. . . . $5,405,685 87 $5,827,540 12 Averages per Mile . 7,304 57 7,794 79 Averages per Mile . 5,894 97 6,358 28 Net earnings, 1901-02 (18.47 p. c.), $1,320,284.34; other income, $9.147.08— total, $1,329,431.42. Payments: Taxes, $95,813.94; interest on bonds $1,026,260; interest on open accounts, $162,777.25; miscellaneous charges, $1,839.78— total, $1,286,690.97. Sur- plus $42.740.45. Deficit forward, $2,216,344.04. Net deficit June 30, 1902, $2,173,603.59. General Balance Sheet, June 30, 1902. Cost of Road and Franchises $54,263,455 Land and Other Property 132,465 Materials and Supplies 1,125,910 Agents and Conductors. Individuals and Companies. U. S. Gov. Transportation... Cash and Current Assets Miscellaneous Assets Due from Other System Companies... 23 Profit and Loss 2,173,60359 22,672 143,261 61,712 84,471 37,912 4^5,324 Capital Stock ($100 shares) $27.084,37200 Funded Debt Outstanding 25,528,000 00 Interest Accrued to June 30. . . .~ 236,550 00 Vouchers and Pay Rolls 552,399 66 Traffic Balances, etc 84,913 73 Coupons Matured, but not Presented.. 6,465 00 Taxes Assessed, but not Due 47,00000 Due Gulf, West. Tex. & Pac. Ry. Co. . . 52,215 35 Due Texas and New Orleans RR. Co. . 1,464,376 85 Due Southern Pacific Co 3.412,41786 Contingent Liabilities 72,07921 Total Assets $58,540,78966 Total Liabilities $58,540,78966 Fnnded Debt outstanding on June 30, 1902, consisted of $4,756,000 Eastern Div. 1st gold 6s of Feb. 1, 1910 ; $1,000,000 Eastern Div. 2d gold 7s of June 1, 1905 : $13,418,000 Western Div. (M. & P. Ext.) 1st gold 5s of May 1, 1931; and $6,354,000 Western Div. (M. & P. Ext.) income gold 6s of July 1, 1931. The 1st mtge. Eastern Division bonds are secured on the main line east of San Antonio, on the La Grange Branch, and on the old lands of the company. The 2d mtge. East- ern Division bonds are also secured on the main line east of San Antonio and on the land grant. The proceeds from the sale of the lands go to the trustees to bo used in the purchase of bonds. The 1st mtge. bonds are further secured by a sinking fund of 1 p. c., which commenced in 1880, and for which bonds are drawn annually. It i.s optional with the holders, however, whether they surrender or retain their bonds. In case of their retention the interest continues, and the bonds remain as If they never had been drawn. The 1st mtge. Mexican and Pacific Extension bonds are secured on the line from San Antonio to El Paso, and also on the Eagle Pass Branch. The 2d mtge. ( Income) Western Division bonds are secured on the line from San Antonio to El Paso, subject to 660 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. the lien of the 1st mortgage, and are also secured on the lands due from the State for construc- tion of the M. & P. Extension, by which the company became entitled to 110,750 sections of 640 acres each, equal to 70,880,000 acres. Of these bonds, $355,000 are in the company's treasury. By an agreement made in 1893 with the holders of these bonds the charge for interest accrued thereon was waived, and interest now becomes due only If earned above all prior charges, and is non-cumu- lative. Directors (elected July 1, 1902) E. H. Harriman, Arden, N. Y.; C. H. Tweed, New York, N. Y.; C. H. Markham, W. G. Van Vleck, C. B. Seger, W. B. Chew, R, S. Lovett, Houston, Tex. OFFICERS: E. H. HARRIMAN, Pres,, Arden, N. Y. ; C. H. Markham, 1st \'icc-Prcs.; \\. G. Van Vleck, 2d Vice-Pret>. d Gen. Mgr.; C. B. Seger, Sec. d- And.; II. C. Cushman, Treas., Houston, Tex.; Alex. Millar, Asst. Sec.; A. K. Van Deventer, Asst. Treas., New York, N. Y. GENERAL OFFICE, Houston, Tex. General Agent's Office, 120 Broadway, New York, N. Y. GALVESTON, HOUSTON AND NORTHERN RY.-Magers to Galveston, Tex., 53.45 m.; total track (steel; 60 Ibs.), 68.90 miles. Gauge, 4 ft. 8^ in. History.— Chartered March 31, 1899, as successor to the Galveston, La Porte and Houston Ry. Co.; took possession of the property on May 1, 1899. Controlled by the Southern Pacific Co., through ownership of the stock and bonds, but operated by its own organization. Rolling Stock, June 30, 1902. — Locomotives, 5. Cars — passenger, 6; baggage and passenger, 3; freight (box), 95; service, 3 — total, 107. Operations, year ending June 30, 1902. — Train mileage — passenger, 101,423 m. ; freight, 81,957 m. — total, 183,380 miles. Passengers carried, 132,892; carried one mile, 4,995,151; average mile rate, 1.654 cents. Tons freight moved, 482,295; tons moved one mile, 24,960,490; average ton-mile rate, 1.27 cents. Earnings — Passenger, $82,631.82; freight, $317,304.15; mail and express, $6,542.36; miscellaneous, $1,962.96— total ($7,641.56 per mile), $408,441.29. Operating expenses- Maintenance of way and structures, $90,177.08; maintenance of equipment, $29,897.79; conducting transportation, $306,318.30; general expenses, $11,019.86 — total ($8,183.59 per mile), $437,413.03. Loss from operations, $28,971.74; add charges (taxes, $9,041.68; interest on bonds, $40,000; other interest, $29,519.61; sundries, $1,468.03), $80,029.32 — deficit for year, $109,001.06; deficit forward ($394,621.03, less adjustments, $17,252.32), $377,368.71— total, $486,369.77. Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $200,000; funded debt (1st 5s of Jan. 1, 1930), $800,000; equipment trust obligations, $16,214.02; coupons due July 1, $20,000; current liabilities, $143,105.77; taxes assessed not due, $3,200; due S. P. Co., $279,450.71; due other companies in the system, $355,508.89; contingent- liabilities, $2,064.19 — total, $1,819,543.58. Contra: Cost of road and franchises, $1,265,- 384.85; current assets, $34,170.14; materials, etc., $13,184.62: contingent assets, $20,- 434.20; profit and loss, $486,369.77— total, $1,819,543.58. Directors (elected March 31, 1903).— E. H. Harriman, Arden, N. Y.; W. G. Van Vleck, R. S. Lovett, T. W. House, J. F. Meyer, S. E. Allen, J. M. Dorrencc, C. H. Mark- ham, C. B. Seger, Houston, Tex. OFFICERS: E. H. HARRIMAN, Pres., Arden, N. Y. ; W. G. Van Vleck, Vice-Pres.; C. B. Seger, Sec. d Aud.; B. C. Cushman, Treas., Houston, Tex.; A. K. Van Deventer, Asst. Sec. & Asst. Treas., New York, N. Y. GENERAL OFFICE, Houston, Tex. GULF, WESTERN TEXAS AND PACIFIC RY.-Port Lavaca to Cuero, Tex., 55.14 m.; Victoria to Becville, Tex., 56.06 m total, 111.20 m.; total track, 127.73 miles. Gauge, 4 ft. 8y2 in. Rail (steel, 112.65 m.), 50 and 52 Ibs. History. — Consolidation, Aug. 4, 1870, of the San Antonio and Mexican Gulf and the Indianola RR. Cos. (see MANUAL for 1893, page 1012). Controlled by the Southern Pacific Co. through ownership of capital stock, but road operated by its own officers. Rolling Stock, June 30, 1902.— Locomotives, 5. Cars— freight (box, 123; flat, 116; caboose, 2), 241; service, 6 — total, 247. Operations, year ending June 30, 1902. — Train mileage — passenger, 30,838 m. ; freight, 21,850 m.; mixed, 52,664 m. — total, 105,352 miles. Passengers carried, 85,743; carried one mile, 2,804,351; average mile rate, 1.812 cents. Tons freight moved, 69,253; tons moved one mile, 2,137,703; average ton-mile rate, 4.12 cents. Earnings — Passenger, $51,959.38; freight, $87,992.56; mail and express, $10,274.56; miscellaneous, $8,567.69 — total ($1,422.01 per mile), $158,794.19. Operating expenses — Maintenance of way and structures, $57,023.76; maintenance of equipment. $22,333.14; conducting transportation, $64,087.03; general expenses, $0,684.20 — total ($1,350.07 per mile), $150,128.13. Net earnings (5.46 p. c.), $8,666.06; other income, $282.43— total, $8,948.49. Charges: Interest on funded debt, $111,200; other interest, $38,097.86; taxes, POOR S MANUAL SOUTHERN PACIFIC SYSTEM. 661 $9,009.65; land department expenses, $110.89— total, $158,418.40. Deficit for year, $149,- 469.91; deficit forward, $1,280,298.84— total, $1,429,768.75. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $500,000; funded debt (1st 5s of Dec. 1, 1941), $2,224,000; interest accrued not due, $9,266.67; taxes assessed, not due, $4,400; current liabilities, $7,585.46; due Southern Pacific Co., $768,366.41; due other companies of system, $189,988.35; contingent liabilities, $16,- 865.14 — total, $3,720,472.03. Cost of road and franchises, $2,175,773.81; land and other property, $4,718.98; materials, etc., $15,060.45; current assets, $29,414.20; due from other companies of system, $33,920.75; contingent assets, $1,815.09; profit and loss, $1,429,768.75— total, $3,720.472.03. Directors (elected Jan. 6, 1903).— W. G. Van Vleck, G. E. Cottingham, Houston, Tex.; D. C. Proctor, Cuero, Tex.; D. T. Forbes, V. B. Proctor, F. C. Proctor, Victoria, Tex. OFFICERS: W. G. VAN VLECK, Pres., Houston, Tex.; D. T. Forbes, Vice-Pres., W. J. Craig, Treas.; B. M. Smith, Sec., Victoria, Tex.; A. K. Van Deventer, Asst. Sec. & Asst, Treas., New York, N. Y. GENERAL OFFICE, Victoria, Tex. HOUSTON, EAST AND WEST TEXAS RY.— Houston, Tex., to Logans- port, La., 190.69 m.; total track (steel; 60 Ibs.), 220.56 miles. Gauge, 4 ft. 8% in- History. — Reorganization in 1897 of a company of the same name (see MANUAL for 1899, page 545). Controlled by the Southern Pacific Ry. Co., through ownership of more than 99 p. c. of the capital stock, but operated as a separate organization. Rolling Stock, June 30, 1902. — Locomotives, 18. Cars — passenger, 10; baggage, etc., 3; business, 1; freight (box, 183; cabooose, 14; flat, 253; gondola, 32; refrigerator, 2), 484; service, 36 — total, 534. Operations, year ending June 30, 1902. — Train mileage — passenger, 143,127 m. ; freight, 227,559 m.; mixed, 139,428 m. — total. 510,114 miles. Passengers carried, 202,- 325; carried one mile, 7,166,090; average mile rate, 2.59 cents. Tons freight moved, 552,810; tons moved one mile, 52,164,237; average ton-mile rate, 1.26 cents. EARNINGS. 1900-01 $150,917 00 1901-02 $185,956 96 EXPENSES. Maint. of Way, etc.. . 1900-01 $195,979 43 1901-02 $190,018 54 Freight 640,080 47 658,967 30 Maint. of Emiip. . . . 68,510 39 125,437 60 Mail and Express. . . 34,269 33 21,846 26 34,251 35 22,244 58 Conducting Transp. . General Expenses . . 298,507 95 38,634 77 355,064 97 42,239 8& Totals $847 113 06 $901 420 19 Totals $601,632 54 $712,761 00 Averages per Mile . 4,442 36 4,727 15 Averages per Mile . 3,155 06 3,737 80 Net earnings, 1901-02 (20.93 p. c.), $188,659.19; other income, $3,423.79 — total, $192,082.98. Payments: Interest on funded debt, $135,000; taxes, $24,878.06 — total, $159,878.06. Surplus, $32,204.92; surplus forward, $239,326.01; sundry credits, $12,- 446 — total surplus, $283,976.93. General Balance Sheet, June 30, 1902. Cost of Road and Franchises $5,115,639 91 Expenditures for New Lines 52975 Land and Other Property 73750 Materials, etc 38,024 13 Current Assets 111,619 82 Due from Houston & Shreve. RR. Co.. . 18,513 24 Due from Southern Pacific Co 143,105 48 Total Assets $5.428,169 83 Capital Stock ($100 shares) $1,520,00000 Funded Debt 2,700,00000 Equipment Trust Obligations. Securities Issuable for New Lines Interest Accrued, not Due Current Liabilities Taxes Assessed, not Due Contingent Liabilities 16,000 00 300,000 00 22,500 00 99,132 72 10,308 92 76,251 26 Profit and Loss 283,976 93 Total Liabilities $5,428,169 83 Funded Debt. June 30, 1902. — Funded debt consists of 1st gold 5s of May 1, 1933. The original issue of these bonds was $3,840,000, of which $840,000 was surrendered to the trustee for cancellation, in accordance with the plan of reorganization, outlined in the MANUAL for 1897, on page 193. Of the $3,000,000 bonds authorized, $300,000 remain in the hands of the reorganiza- tion committee for betterments and improvements, as provided in the plan of reorganization. Directors (elected Jan. 30, 1903) James A. Blair, New York, N. Y.; C. H. Mark- ham, J. N. Miller, J. A. Baker, Jr., Howard F. Smith, W. D. Cleveland, C. G. Pillot, W. T. Carter, F. Reichardt, Houston, Tex. OFFICERS: C. H. MARKHAM, Pres.; 3. N. Miller, Vice-Pres.; E. Dargan, Sec. & Treas., Houston, Tex.; Alex. Millar, Asst. Sec. & Asst. Treas., New York, N. Y. GENERAL OFFICE, Houston, Tex. HOUSTON AND SHREVEPORT RY.— Logansport to Shreveport, La., 39.05 m.; total track (steel), 42.79 miles. Gauge, 4 ft. 8y2 in. History. — Reorganization, Dec., 1891, of the Shreveport and Houston Ry. Co. (see MANUAL for 1900, page 481). Controlled by the Southern Pacific Co., through owner- tit;-,' POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. ship of more than 98 p. c. of the capital stock, but operated as a separate organization. The company owns no rolling stock. Operations, year ending June 30, 1!)02 Train mileage — passenger, 29,845 m.; freight, 39,684 in.; mixed, 28,187 m total, 97,716 miles. Passengers carried, 42,108; carried one mile, 1,386,703; average mile rate, 2.63 cents. Tons freight moved, 247,971; tons moved one mile, 9,914,567; average ton-mile rate, 1.79 cents. Earnings. — Passenger, $36,500.66; freight, $177,840.09; mail and express, $7,191.96; miscellaneous, $1,628.20 — total ($5,714.74 per mile), $223,160.91. Operating expenses — Maintenance of way and structures, $32,805.83; maintenance of equipment, $22,276.59; conducting transportation, $94,296.05; general expenses, $7,026.30 — total ($4,005.24 per mile), $156,404.77. Net earnings (29.99 p. c.), $66,756.14; other receipts, $6,810.37 — total, $73,566.51. Payments: Interest on bonds, $9,000; taxes, $4,757.15 — total, $13,- 757.15. Surplus, $59,809.36; surplus forward, $28,839.13; sundry credits, $5,559 — total surplus, $94,207.49. Balance Sheet, June 30, 1902.— Capital stock, $400,000; funded debt (1st 6s of July 1, 1914), $150,000; current liabilities, $7,118.97; taxes assessed, but not due, $2,699.25; due Houston, East and West Texas Ry. Co., $18,513.24; profit and loss, $94,207.49— total, $672,538.95. Contra: Cost of road and franchises, $515,332.90; land and other property, $512.50; current assets, $16,412.27; due from S. P. Co., $140,281.28 —total, $672,538.95. Directors (elected Jan. 29, 1903).— S. B. Hicks, John B. Dennis, New York, N. Y.; J. N. Miller, C. H. Markham, Herman Loeb, W. H. Wise, W. H. Taylor, Houston, Tex. OFFICERS: C. H. MARKHAM, Pres.; J. N. Miller, Vice-Pres.; Houston, Tex.; A. K. Van Deventer, Treas.; Alex. Millar, Sec., New York, N. Y. ; E. Dargan, Asst. Sec. & Asst. Treas., Houston, Tex. GENERAL OFFICE, Shreveport, La. HOUSTON AND TEXAS CENTRAL RR.— Length of road, 668.73 m.; sidings, 160.43 m.— total track (steel; 54 and 56 Ibs.), 829.16 miles. Gauge, 4 ft. 8y8 in. Fol- lowing are the details of first track mileage: LINES OWNED. Miles. Houston to Denison, Tex 337.98 Hempstead to Austin, Tex 115.00 Bremond to Ross, Tex 54.77 Austin to Llano, Tex 99.75 Fairland to Marble Falls, Tex 6.69 Miles. Brought Forward 614.19 Garrett to Waxahatchie, Tex 12.57 Waxahatchle to Fort Worth, Tex 41.97 Total mileage June 30, 1902 668.73 History. — Organized Aug. 1, 1889, as successor to the Houston and Texas Central Ry. Co., all of whose road, except the Waco and Northwestern Division, was sold under foreclosure on Sept. 8, 1888. The Waco and Northwestern Division was sold under foreclosure on Sept. 3, 1895, and was deeded to this company on June 30, 1898 (see MANUAL for 1901, page 646). On Sept. 3, 1901, the company absorbed the Austin and Northwestern RR. Co., the Central Texas and Northwestern Ry. Co. and the Fort Worth and New Orleans Ry. Co. (see MANUAL for 1902, page 610). This company is controlled by the Southern Pacific Co., through ownership of more than 95 p. c. of the capital stock, but is operated as an independent organization. Rolling Stock, June 30, 1902.— Locomotives, 106. Cars— passenger, 47; chair, 11; business, 2; combination, 7; baggage, etc., 33; freight (box, 1,501; stock, 194; flat, 827; refrigerator, 65; caboose, 50; gondola, 344; tank, 4), 2,985; service, 117 — total, 3,202. Operations, year ending June 30, 1902. — Train mileage — passenger, 1,174,281 m.; freight, 1,421,358 m.; mixed, 156,945 m. — total, 2,752,584 miles. Passengers carried, 1,173,473; carried one mile, 54,368,211; average mile rate, 2.304 cents. Tons freight moved, 1,720,743; tons moved one mile, 322,400,805; average ton-mile rate, 1.12 cents. EARNINGS. Passenger 1900-01 $1,312,059 41 1901-02 $1,271,379 16 EXPENSES. Maint. of Way, etc.. . 1900-01 $711,928 97 1901-02 $930,489 88 Freight 4,095.087 31 3,602,843 40 Maint. of Equip. 526 070 95 556,296 44 Mail and Express. . . Miscellaneous 190,048 95 108,696 41 ' 210,042 08 71,906 64 Conducting Transp. . General Expenses . . 2,009,387 84 198,953 23 1,961,535 09 169,.r>58 64 Totals $5,705,892 OS $5,156,171 28 Totals $3,446,340 99 $3,617,880 05 Averages per Mile . 8,532 43 7,710 39 Averages per Mile 5,153 57 5,410 08 Net earnings, 1901-02 (29.83 p. c.), $1,538,291.23; other income (track rentals, $5,991.62; interest. $31,01.9.50), $37.011.12— total, $1,575,302.35. Payments: Interest on funded debt, $882,196.67; rentals, $10,837.33; taxes, $109,246.30; old accounts charged off, $794.40— total, $1,003,074.70. Surplus, $572,227.65; surplus forward, $4,859,124.75; proceeds from sale of lands pledged for redemption of bonds, $587,000; sundry reoeipts, $4,411.60— total, $6,022,764. POOR'S MANUAL — SOUTHERN PACIFIC SYSTEM. 663 General Balance Sheet, June 30, 1902. Cost of Road and Franchises $32,815,070 77 Expenditures for New Lines 179,140 46 Land and Other Property 58 375 74 Stocks Owned 33,058 63 Materials and Supplies 713,618 66 Cash on Hand 135,84937 Current Assets 283,03294 Other Assets 66,181 70 Due from Southern Pacific Co 529,37419 Total Assets $34,811,702 46 Capital Stock $10,000,000 oo Funded Debt 17,346,000 00 Interest Accrued, not Due lub,292 60 Taxes Assessed, not Due 48,00000 Current Liabilities 1,023,177 39 Due Other Companies of System 43,475 12 Replacement Funds 209,410 40 Other Liabilities 13,58305 Profit and Loss 6,022,764 00 Total Liabilities $34,811,702 46 Funded Debt outstanding, June 30, 1902, consisted of $6,096,000, 1st gold 5s of July 1, 1937, including $136,000 called for redemption but not presented ; $2,992,000 consol. gold 6s of Oct. 1, 1912, including $81,000 called for redemption but not presented; $4,287,000 gen. gold 4s of April 1, 1921 ; $1,105,000 Waco and Northwestern Division 1st gold 6s of May 1, 1930 ; $57,000 debenture 5s of Oct.- 1, 1902 ; $1,920,000 Austin and Northwestern 1st gold 5s of Jan. 1, 1941 ; $180,000 Cent. Texas and Northwestern 1st 6s of Oct. 1, 1911, and $709,000 Ft. Worth and New Orleans 1st 6s of Dec. 31, 1925. The 1st mtge. bonds, the consols and the gen. mtge. bonds are secured in the order named on the lines from Houston to Denison, 337.98 miles, and from Hempstead to Austin, 115 miles. The gen. mtge. bonds are additionally secured by deposit of $1,149,000 consol. mtge. bonds. The 1st mtge. bonds, the consols and the gen. mtge. bonds are further secured by a trust indenture, dated April 1, 1890, between F. P. Olcott, the Southern Pacific Co., and the mortgage trustee, said indenture relating to certain lands described therein. The Waco and Northwestern Division bomds (authorized, $25,000 per mile) are secured on the line from Bremond to Ross, 54.77 miles. The A. & N. W. bonds are secured on the lines from Austin to Llano, 99.75 miles, and Fairland to Marble Falls 6.69 miles. The C. T. & N. W. bonds are secured on the line from Garrett to Waxahatchie, 12.57 miles. The F. W. & N. O. bonds are secured on the line from Waxahatchie to Fort Worth, 41.97 miles. The 1st mtge. bonds and the consols may be called for redemption at 110 p. c. from proceeds of land sales. In addition to the $2,992,000 consols outstanding, $1,149,000 are deposited as collateral to the gen. mtge. bonds, but these do not draw interest and are not subject to redemption from proceeds of land sales, unless there should be a default on the out- standing bonds. The Southern Pacific Company guarantees the interest on the 1st mtge. bonds, the consols and the gen. mtge. bonds, and guarantees principal and interest of the debentures, the Austin and Northwestern and the Central Texas and Northwestern bonds. Additional particulars respecting the funded debt will be found in the Ready Reference Bond List — see General Index. Directors (elected April 14, 1903).— E. H. Harriman, New York, N. Y.; J. N. Miller, C. H. Markham, R. S. Lovett, T. W. House, A. P. Root, John T. Browne, J. A. Baker, W. B. Chew, Houston, Tex. OFFICERS: R. S. LOVETT, Pres.; C. H. Markham, Vice- Pres.; W. H. Field, Sec. & Treas.; C. B. Seger, Auditor, Houston, Tex. GENERAL OFFICES: Houston, Tex., and 120 Broadway, New York, N. Y. IBERIA AND VERMILION RR.— Salt Mine June, to Abbeville, La., 18.13 m.; total track (steel,' 56 and 60 Ibs.), 18.99 miles. Gauge, 4 ft. Sy2 in. History. — Chartered April 6, 1901. Connects at Junction with Morgan's Louisiana and Texas RR. Operated by the Southern Pacific Co. for account of owners. Income Account, year ending June 30, 1902 — Earnings (passenger, $19,- 271.65; freight, $46,162.78; mail and express, $4,005.04; other, $129.53), $69,569. Operating expenses, $27,158.69. Net earnings, $42,410.31; other income, $936.89 — total, $43,347.20. Payments: Interest on bonds, $16,100; taxes, $932.52 — total, $17,032.52. Surplus, $26,314.68. Deficit forward, $12,563.76. Net surplus, $13,750.92. Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $300.000; funded debt (1st 5s of Aug. 1, 1943), $322,000; interest accrued, $6,708.34; profit and loss, $13,750.92 —total, $642,459.26. Contra: Cost of road and franchises, $594,299.67; cash, $1,100; due from Morgan's Louisiana and Texas RR. & SS. Co., $47,059.59— total, $642,459.26. Directors (elected June 1, 1903) — J. Kruttschnitt, San Francisco, Cal.; T. Fay, John B. Richardson, W. F. Owen, New Orleans, La.; C. B. Ellis, New Iberia, La. OFFICERS: J. KRUTTSCHNITT, Pres., San Francisco, Cal.; T. Fay, Vice-Pres.; John B. Richardson, Treas., New Orleans, La.; C. B. Ellis, See., New Iberia, La. GENERAL OFFICE, New Orleans, La. LOUISIANA WESTERN RR.— Lafayette to Sabine River, La., 105.76 m.; Midland to Abbeville, La., 34.78 m.; Midland to Eunice. La.. 23.73 m.— total, 164.27 miles; total track (steel, m.), 203.20 miles. Rail, 52 Ibs. Gauge, 4ft. 814 in. History. — The route of this road originally formed the western extension of what is now known as the New Orleans and Mobile RR. Some preliminary work had been done in the way of grading, etc., when, in 1870, the property was sold under fore- closure; this portion was purchased by Morgan's Louisiana and Texas RR. Co., which subsequently transferred it to the Louisiana Western RR. Co. The construction of the road was commenced in 1879, and the whole line put in operation in Aug., 1880. This road was included in the "Omnibus Lease" to the Southern Pacific Co., but the lease terminated on Dec. 31, 1901, and the road is now operated by its own organization. 604 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. Rolling Stock, June :W, 1!)02. — Locomotives, 24. Cars— passenger, 10; postal, 2; baggage, etc., 9; freight (box, 715; stock, 21; flat, 876; caboose, 9; gondola, 97), 1,718; service, 76— total, 1,815. General Income Account, year ending June 30, 1902. EARNINGS. Passenger Freight Mail and Express. . Miscellaneous. . 1900-01 $348,052 89 1,233,070 85 54,881 87 10,724 89 1901-02 $451,039 09 1,444,221 60 58,579 13 16,047 84 EXPENSES. Maint. of Way, etc.. . Maint. of Equip. . . . Conducting Transp. . General Expenses . . $1 646,730 50 $1 969 887 66 Totals. 11 JOG 34 11 [991 77 Averages per Mile . 1900-01 $189,259 96 187,613 76 530,917 85 35,011 24 $942,802 81 6,702 23 1901-02 $250,2X6 96 204,332 39 586,268 85 44,145 65 $1.085,033 85 6,605 10 Averages per Mile . Net earnings, 1901-02 (44.92 p. c.), $884,853.81; other income, $57,277.66— total, $942,131.47. Payments: Interest on bonds, $134,400; taxes, $38,440.55— total, $172,- 840.55. Surplus, $769,290.92; add adjustment under leases, $42,891.41 — total surplus for year, $812,182.33. Surplus forward, $2,425,720.10. Total surplus June 3*0, 1902, $3,237,902.43. General Balance Sheet, June 30, 1902. Cost of Road and Franchises $6,870,522 25 Expenditures for New Lines 327,04722 Materials, etc 18,89470 Current Assets 62,766 37 Due from Other Companies of System.. 176,595 10 Due from Southern Pacific Co 1,559,10070 Contingent Assets 2,626 47 Total Assets $9,017,65281 Capital Stock ( $100 shares) $3,360,000 00 Funded Debt (1st 6s of July 1, 1921).. 2,240.000 00 Taxes Assessed, not Due 18,307 63 Current Liabilities 1;M>(S27 62 Due Other Companies of System 22,290 11 Other Liabilities 10.225 02 Profit and Loss 3,237,902 43 Total Liabilities $9,017.552 81 Directors (elected April 6, 1903) E. H. Harriman, Arden, N. Y.; Otto H. Kahn, James Stillman, New York, N. Y. OFFICERS: E. H. HARRIMAN, Pres., Arden, N. Y. ; W. V. S. Thome, Vice-Pres.; Alex. Millar, Sec., New York, N. Y.; John B. Richardson, Treas.; Chas. E. Wermuth, Asst. Sec., New Orleans, La.; A. K. Van Deventer, Asst. Treas., New York, N. Y. GENERAL OFFICE, New Orleans, La. MORGAN'S LOUISIANA AND TEXAS RR. AND SS. CO.— Length of road (owned, 300.17 m.; leased, 23.60 m.), 323.77 m.; second track, 35.87 m.; sidings, 159.86 m. — total track (steel, m.), 519.50 miles. Gauge, 4 ft. 8y2 in. Rail; 60 Ibs. Water lines — ferry, New Orleans to Algiers, 1 m. ; river line — Morgan City to point on Bayou Teche, 105 m. ; ocean lines — New Orleans to Havana, 700 m. ; Morgan City to Brazos Santiago, 570 m. — total, 1,376 miles. Following are the details of railroad mileage, first track: LINES OWNED (300.17 miles). Miles. Algiers to Lafayette, La 144.63 Lafayette to Cheneyville, La 60.15 Alexandria Terminal 1.24 Cade to Arnaudville, La 29.74 New Iberia to Salt Mine, La 9.64 Baldwin to Cypremort, La 15.29 Schriever to Houma, La 14.60 Miles. Brought Forward 275.29 Schriever to Napoleon ville, La 22.85 Raceland Branch 2.03 T. & P. Ry. : Cheneyville to Alexandria, La.. 23.60 Total operated June 30, 1902 323.77 History. — (See MANUAL for 1887, page 891). This road was included in the "Omnibus Lease" to the Southern Pacific Co., but the lease terminated on Dec. 31, 1901, and the property is now operated by its own organization. Rolling Stock, June 30, 1902. — Locomotives, 51. Cars — passenger, 30; postal, 2; business, 1; baggage, etc., 20; freight (box, 1,532; caboose, 30; flat, 714; fruit, 118; gondola, 59; refrigerator, 56; stock, 109), 2,618; service, 181 — total cars, 2,852. Float- ing equipment — steamships, 8 ; car transfer steamer, 1 ; river steamers, 4 ; tugs, 7 ; car transfer barges, 2 ; barges, 8 ; derrick boats, 3 ; steam pile driver, 1 ; steamship stern dock, 1 ; dredge boat, 1. General Income Account, year ending June 30, 1902. BR. Expenses —Maint. Way & Struct. . . $414,823 63 Maint. of Equipment... 495,03093 Conducting Transp'n . . . 1,884,120 85 General Expenses 91,924 13 RR, Karninif H — Passenger $897,863 25 Freight 3.943,711 13 Mail and Express 120,32172 Miscellaneous 109,99500 Total ($15,953.52 per mile) $5,166,891 10 Water Line Earnings 2,024,72894 Gross Earnings $7,191,62004 Total ( $8,913.43 per mile) $2.885,899 44 Water Line Expenses 1,510,285 40 Operating Expenses $(,396,18484 POOR S MANUAL SOUTHERN PACIFIC SYSTEM. 665 Net earnings (38.87 p. c.), $2,795,435.20; other income (rentals, trackage, $40,300; interest on open accounts, $167,295.49; sundries, $4,451.52), $212,047.01 — total, $3,007,- 482.21. Payments: Interest on bonds, $489,640; taxes, $148,857.30; rentals, steamships, $470,709.71; old accounts charged off, $9S9.30; adjustments under leases, $166,062.20— total, $1,276,258.51. Surplus, $1,731,223.70; surplus forward ($4,264,539.43, less ad- justments, $45,048.74), $4,219,490.69— total, $5,950,714.39. General Balance Sheet, June 30, 1902. Cost of Road and Franchises $21,800,290 94 Stocks Owned 589,597 46 Bonds Owned 820,500 00 Materials, etc 472,063 83 Due from Other Companies of System. 515,526 75 Due from Southern Pacific Co 4,941,27102 Current Assets 328,320 47 Contingent Assets 176,570 68 Total Assets $29,644,141 15 Capital Stock ( $100 shares) $15,000,000 00 Funded Debt (see below) 7,496,71392 Interest Accrued, not Due 87,500 00 Taxes Assessed, not Due 36,342 68 Due Other Companies of System 300,787 54 Replacement Funds 192,52599 Current Liabilities 533,85799 Contingent Liabilities 45,698 64 Profit and Loss 5,950,714 39 Total Liabilities $29,644,141 15 Funded Debt outstanding, June 30, 1902, consisted of $5,000,000 M. L. & T. RR. 1st 7s of April 1, 1918; $1,494,000 Alex. Ext. 1st gold 6s of July 1, 1920; $1,000,000 gen. 5s of July 1, 1913, and $2,713.92 N. O., O. & G. W. RR. 8s of April 1, 1889. The N. O., O. & G. W. RR. bonds are secured on the road from New Orleans to Morgan City, 80 m. ; the 1st mtge. M., L. & T. bonds on the same lines, and also on the Houma, Lafourche and Thibodeaux branches ; and the 1st mtge. Alexandria Extension Bonds on the line from Morgan City to Cheneyville, 125.5 m., and also on the Salt Mine, St. Martlnsvllle and Cypremort branches. Additional particulars respecting the funded debt are in the Ready Reference Bond List — see General Index. Directors (elected April 6, 1903) — E. H. Harriman, Arden, N. Y.; Hugh McCloskey, J. B. Richardson, Thornwell Fay, C. Trumpy, New Orleans, La. OFFICERS: E. HI HARRIMAN, Pres., Arden, N. Y. ; Thornwell Fay, Vice-Pres.; J. B. Richardson, Sec. & Treas., New Orleans, La.; Alex. Millar, Asst. Sec.; A. K. Van Deventer, Asst. Treas., New York, N. Y. GENERAL OFFICE, New Orleans, La. NEW YORK, TEXAS AND MEXICAN RY.— Rosenberg to Victoria, Tex., 91 m.; Wharton to Van Vleck, Tex., 31.41 m.— total, 122.41 m.; total track (steel, 135.28 m.), 135.76 miles. . Gauge, 4 ft. 8J/2 in. Rail, 50 Ibs. History. — Chartered Nov. 17, 1880; road opened from Rosenberg to Victoria, 91 m., on Jan. 15, 1882; from Wharton to Van Vleck, 31.41 m., in Sept., 1900. An exten- sion from Van Vleck to Hawkinsville, about 18 miles, was opened in Feb., 1903. Con- trolled by the Southern Pacific Co. through ownership of more than 96 p. c. of the capital stock, but operated as an independent organization. Rolling Stock, June 30, 1902. — Locomotives, 6. Cars — passenger, 4; baggage, etc., 2; freight (box, 149; cabooose, 2; flat, 117; stock, 118), 386; service, 9— total, 401. Operations, year ending June 30, 1902. — Train, mileage — passenger, 72,503 m. ; freight, 83,005 m. ; mixed, 20,064 m. — total, 175,572 miles. Passengers carried, 83,276; carried one mile, 3,048,690 ; average mile rate, 2.426 cents. Tons freight moved, 207,858 ; tons moved one mile, 11,491,257; average ton-mile rate, 2.434 cents. Earnings. — Passenger, $73,964.68; freight, $279,661.37; mail and express, $17,354.07; miscellaneous, $12,380.07 — total ($3,131.77 per mile), $383,360.19. Operating expenses — Maintenance of way and structures, $69,509.96; maintenance of equipment, $37,378.44; conducting transportation, $116,729.86; general expenses, $10,885.97 — total ($1,915.73 per mile), $234,504.23. Net earnings (38.83 p. c.), $148,855.96; miscellaneous receipts, $310.91— total, $149,166.87. Payments: Interest on funded debt, $61,780; on open accounts, $48,517.22; taxes, $11,241.69; land department expenses, $15.55 — total, $121,- 554.46. Surplus, $27,612.41. Deficit forward, $348,842.98. Net deficit, June 30, 1902, $321,230.57. , General Balance Sheet, June 30, 1902. Cost of Road and Franchises $2,477,14424 Expenditures for New Lines 511,90696 Materials, etc 28,444 48 Due from Other Companies of System. 126.945 70 Current Assets 44,81881 Contingent Assets 3,555 27 Profit and Loss 321,230 57 Total Assets $3,514,046 03 Capital Stock ($100 shares) $630,04000 Funded Debt 1,518,000 00 Interest Accrued, not Due 15,445 00 Taxes Assessed, not Due 5,100 00 Current Liabilities 98,45136 Due Other Companies of System 414,158 01 Due Southern Pacific Co 823,236 13 Contingent Liabilities 9,61553 Total Liabilities $3,514,046 03 Funded Debt, June 30, 1902, consisted of ($8,000,000 or £1,600,000 auth.) 1st mtge. 30-yr. gold bonds, due April 1, 1912, $1,518,000 outstanding, of which $53,000 are 6 p. c. bonds, and $1,465,000 4 p. c. bonds. The 4s are guaranteed, principal and interest, by the Southern Pacific Co. ; the 6s are not so guaranteed. A sufficient number of the 4s are reserved for the retirement of the 666 POOR 8 MANUAL OF RAILROADS — PACIFIC GROUP. Sahine River to Houston. Tex 112.16 Sabine Pass to Rockland, Tex 103.11 Rockland to North of Nacogdoches, Tex.. 50.41 Dallas to Jacksonville, Tex 115.59 6 p. c. bonds. The bonds are secured by a first lien on the road and rolling stock, and also on the land in Texas, which the company has been unable to obtain, the State having withdrawn its land from location. Directors (elected Jan. 26, 1903). — G. R. Cottingham, W. G. Van Vleck, Houston, Tex.; D. C. Proctor, Cuero, Tex.; V. B. Proctor, F. C. Proctor, B. M. Smith, D. T. Forbes, Victoria, Tex. OFFICERS: \V. G. VAN VLECK, Pres., Houston, Tex.; D. T. Forbes, Vioe-Pres.; W. J. Craig, Treas.; B. M. Smith, Sec., Victoria, Tex.; A. K. Van Deventer, Asst. Sec. d Asst. Treas., New York, N. Y. GENERAL OFFICE, Victoria, Tex. TEXAS AND NEW ORLEANS EE.— Length of road (owned, 394.90 m.; jointly with I. & G. N. Ry., 0.43 m.), 395.33 m. ; 2d track, 3.89 m.; sidings, 117.82 m.— total track (steel, 475.28 m.), 517.04 miles. Gauge, 4 ft. 8y2 in. Rail, 50 and 60 Ihs. Following are the details of mileage, first track : LINES OWNED (394.9 miles). Miles. | LINES OWNED (394.9 miles). Miles. Houston to Clinton, Tex 8.12 Bonita June, to Mahl, Tex 5.51 Owned Jointly with Internat'l & Gt. North'n. At Jacksonville, Tex 0.43 History. — Reorganization in 1874 of the old Texas and New Orleans RR., which was built in 1861 and dismantled in 1865. The reconstructed road (Houston to Orange) was opened on Aug. 1, 1876. The line from Sabine to Rockland, 103.11 miles, formerly the Sabine and East Texas Ry., was purchased in April, 1883. The Texas Transporta- tion RR., from Houston to Clinton, 7.9 miles, was purchased on June 1, 1896; the Texas Trunk RR., from Dallas to Cedar, 53 miles, and the Louisiana Western Exten- sion RR., from Sabine River to Beaumont, 6.8 miles, were acquired in Dec., 1899. The Texas Trunk RR. and the Louisiana Western Extension RR. were purchased under authority of an act of the Legislature of Texas, which also authorized the company to construct an extension from Cedar to Rockland, about 165 miles, and to issue $4,- 435,000 of 4 p. c. bonds to cover the cost of the lines purchased and of the extension from Cedar to Rockland Isee MANUAL for 1901, page 615). On June 30, 1902, the extension from Cedar was in operation to Jacksonville, 63 miles, and the extension from Rockland was in operation to Mahl, 56 miles, leaving about 46 miles to be con- structed. The company acquired 818,789 acres of State subsidy land through the pur- chase of the main line and 663,680 acres through the purchase of the Sabine and East Texas Ry. The company is controlled by the Southern Pacific Co. through ownership of all except $2,500 of its capital stock, but is operated as an independent organization. Rolling Stock, June 30, 1902. — Locomotives, 45. Cars — passenger, 21; chair, 7; postal, 2; composite, 2; baggage, mail and express, 14; freight (box, 832; caboose, 11; flat, 1,562; gondola, 95; stock, 10; fruit, 91), 2,601; service, 137— total, 2,784. Operations, year ending June 30, 1902. — Train mileage — passenger, 430,373 m. ; freight, 1,017,752 m.; mixed, 55,675 m — total, 1,503,800 miles. Passengers carried, 526,249; carried one mile, 27,238,593; average mile rate, 2.372 cents. Tons freight moved, 3,240,091 ; tons moved one mile, 299,709,351 ; average ton-mile rate, 0.725 cent. EARNINGS. Passenger Freight Mail and Express. . . Miscellaneous 1900-01 $529,507 77 2,072,977 39 74,311 34 32,388 66 1901-02 $646,068 60 2,172,985 65 83,989 51 67,680 58 EXPENSES. Maint. of Way, etc.. . Maint. of Equip. . . . Conducting Transp. . General Expenses . . 1900-01 8369,035 16 322,132 23 959,454 26 50,699 99 1901-02 $801,410 57 377,545 81 1.234,439 31 64,539 11 $2,970,724 34 Totals $1,701,321 64 $2,477,934 80 7,514 54 Averages per Mile . 4,549 59 6,268 02 Totals $2,709,185 16 Averages per Mile . 7,244 78 Net earnings, 1901-02 (16.59 p. c.), $492,789.54; income from securities and lands, $9,259.84; interest on open accounts, $37,371.33; miscellaneous receipts, $7,306.60 — total, $546,727.31. Payments: Interest on bonds, $384,352.40; taxes, $56,677.23; land de- partment expenses, $7,896.88 — total, $448,926.51. Surplus, $97,800.80; surplus forward, $5,187,496.31; proceeds from land sales, $131,879.22; miscellaneous receipts, $667.50 — total surplus, June 30, 1902, $5,417,843.83. Sheet, June 30, 1902. Capital Stock ($100 shares) $5.000,000 00 Funded Debt ( see below) 7.907,232 32 General Balance Cost of Road and Franchises $15,508,751 73 767,665 61 237,389 63 222.544 56 Materials, etc 873,00307 287.180 70 Expenditures for New Lines. Land and Other Property. Land Grant and Trust Funds. Current Assets Due from Other Companies of System.. 1,987,639 31 Contingent Assets 84,887 80 Total Assets $19,969,06241 Interest Accrued, not Due 131,27642 Taxes Assessed not Due 28,00000 Current Liabilities 558,219 90 Due Other Companies of System 555,542 37 Due Southern Pacific Co 71,452 67 Contingent Liabilities 299,494 90 Profit and Loss 5,417.843 83 Total Liabilities $19,969,062 41 POOR'S MANUAL SOUTHERN PACIFIC SYSTEM. 667 Funded Debt outstanding, June 30, 1902, consisted of (1) $915,000 Main Line 1st 7s of AUR. It 1905, secured on the line from Orange to Houston, 105.46 miles; (2) $2,575,000 Sabine Div. 1st gold 6s of Sept. 1, 1912, secured on the line from Sabine Pass to Rockland, 103.11 miles ; (3) $1,620,000 consol. gold 5s of July 1, 1943, secured on the lines from Orange to Houston and from Sabine Pass to Rockland, but subject to prior liens; (4) $2,455,000 ($20,000 per mile auth.) Dallas Div. 1st gold 4s of Aug. 1, 1930, secured on the line constructed or to be constructed from Rockland to Dallas (about 218 miles), on the line from Orange to the Sabine River (6.7 miles), and on extensions to be constructed or acquired to an aggregate of 40 miles; and (5) $342,232.32 State of Texas school fund debt, payable 2 p. c. yearly and bearing 6 p. c. interest. The company pays the interest on $350,000 1st 5s of Aug. 1, 1923, of the Texas Transportation Co., whose prop- erty and franchises it purchased on June 1, 1896, subject to but without assuming that mortgage. Land Grant. — The company acquired 818,789 acres of State subsidy land through the pur- chase of the main line and 663,680 acres through the purchase of the Sabine and East Texas Ry. Sales during the year ending June 30, 1902, amounted to 19,555 acres, the average price received being $4.07 an acre. There remained unsold at the close of the year 491,650 acres. The financial transactions of the department during the year were as follows : Cash receipts from sales, $17,678.57. Amount of sales made on time contracts, $61,864.08. Total amount of sales for the year, $79,542.65. Land contracts outstanding June 30, 1902, $196,337.09. Face value of main line 1st mtge. bonds purchased and cancelled by trustee from proceeds of land sales, $179,000. Total face value of bonds purchased and cancelled to date, $705,000. Cash balance in hands of trustees, $26,207.47. Directors ( elected Jan. 19, 1903). — J. Kruttschnitt, San Francisco, Cal.; E. H. Harriman, Arden, N. Y.; T. W. House, W. G. Van Vleck, R. S. Lovett, W. B. Chew, C. B. Seger, Houston, Tex. OFFICERS: E. H. HARRIMAN, Pres., Arden, N. Y. ; J. Krutt- schnitt, Vice-Pres., San Francisco, Cal.; W. G. Van Vleck, 2d Vice-Pres,, Houston, Tex.; B. C. Cushman, Treas.; C. B. Seger, Sec. & Aud., Houston, Tex.; A. K. Van Deventer, Asst. Sec. & Asst. Treas., New York, N. Y. GENERA.L OFFICE, Houston, Tex. GILA VALLEY, GLOBE AND NORTHERN RY.— Bowie to Globe, Ariz., 125.55 m. ; spur to smelter, 0.98 m. — total, 126.53 m. ; total track (steel; 50 Ibs.), 133.43 m. Gauge, 4 ft. 8% in. Chartered Jan. 15, 1894; road opened throughout in Jan., 1899 (see MANUAL for 1898, page 268). The company is controlled by the Southern Pacific Co., through ownership of about 60 p. c. of its capital stock, but is operated as an independent organization. Locomotives, 6; cars (passenger), 4. Operations, year ending June 30, 1902. — Train mileage — freight, 37,073; mixed, 76,984 — total, 114,057 miles. Passengers carried, 17,681; carried one mile, 1,143,724. Tons freight moved, 60,404; moved one mile, 6,391,152. Earnings (passenger, $64,243; freight, $279,191; other, $24,946), $368,380. Operating expenses, $174,718. Net earn- ings, $193,662; other receipts, $6,987 — total, $200,649. Payments: Interest on bonds, $75,700; taxes, $229; dividends (4 p. c.), $80,000; betterments, $14,969— total, $170,898. Surplus, $29,751; surplus forward ($149,375; less sinking fund, $1,097), $148,278— total, $178,029. General Balance Sheet, Jime 30, 1902. Road and Equipment $3,514,000 00 Black Warrior Extension 2,799 00 Real Estate 7,901 80 Materials and Supplies 9,98132 Sinking Fund 1st Mtge. Bonds 3,14284 Cash and Current Assets 246,05943 Total Assets $3,783,88439 Capital Stock $2,000,000 00 Bonded Debt I.ol4,000 00 Interest Accrued, not Due 12,616 66 Current Liabilities: 75,084 53 Reserve for Sinking Fund 4,154 08 Profit and Loss 178,02912 Total Liabilities $3,783,88439 Funded Debt consists of ($2,000,000 auth.) 1st gold 5s of Nov. 1, 1924. The bonds are guaranteed, both as to principal and interest, by the Southern Pacific Co., the guaranty being endorsed on each bond. The mortgage contains a provision for a sinking fund of 1 p. c. per annum, to be invested in approved securities or otherwise, or to be used in retiring the bonds at or before maturity ; but the bonds are not subject to call for redemption before maturity. Directors (elected Dec. 3, 1902) William Garland, R. H. Ingram, Epes Randolph, F. W. Burnett, Los Angeles, Cal.; J. Kruttschnitt, San Francisco, Cal. OFFICERS: WILLIAM GARLAND, Pres.; R. H. Ingram, Vice-Pres.; A. C. Laird, Sec., Los Angeles, Cal.; N. T. Smith, Treas., San Francisco, Cal. GENERAL OFFICE, Los Angeles, Cal. SAN ANTONIO AND ARANSAS PASS RY.— Kerrville to Houston, Tex., 308.4 m. ; Kenedy to Corpus Christi, Tex., 90 m. ; Gregory to Rockport, Tex., 21.2 m. ; Skidmore to Alice, Tex., 43 m. ; Yoakum to Waco, Tex., 171 m. ; Austin Junction to Lockhart, Tex., 53.8 m.— total, 687.4 m.: total track (steel. 783.71 in.), 784.57 miles. Oauge, 4 ft. Sl/2 in. Rail, 50 Ibs. Reorganization in 1893 of a company of the saitio name, a sketch of whose history is in the MANUAL for 1892, page 940. The Railroad Commission of Texas decided recently that the last $1,356,000 of the bonds issued under the mortgage dated Jan. 1, 1893, were void and that the ownership of a majority of the capital stock by the Southern Pacific Co. was illegal, and ordered the company, on pain of having the Attorney-General institute suit for the forfeiture of its 668 POOR S MANUAL OF RAILROADS PACIFIC GROUP. charter, to take up and cancel the $1,356,000 bonds and to reduce its capital stock to $1,000,000. Boiling Stock, June 30, 1902. — Locomotives, 57. Cars — passenger, 31; chair, 3; baggage, mail and express, 16; business, 2; freight (box, 769; flat, 538; stock, 235; gondola, 137; tank, 1; caboose, 33), 1,713; service, 100 — total, 1,865. Of the box cars, 100 arc covered by equipment trust. Operations, year ending June 30, 1902. — Train mileage — passenger, 661,534; freight, 952,103; mixed, 30,874 — total, 1,644,511 miles. Passengers carried, 607,621; carried one mile, 22,705,617; average mile rate, 2.375 cents. Tons freight moved, 706,571; moved one mile, 115,014,448; average ton-mile rate, 1.628 cents. EARNINGS. Passenger 1900-01 $535,345 35 1901-02 $550,345 61 EXPENSES. Maint. of Way, etc.. . 1900-01 $607,667 53 1901-02 $550,401 63 Freight 1,957,215 67 1,872,824 02 Maint. of Equip. . . . 221,872 22 242,520 50 Mail and Express. . . Miscellaneous 99,078 07 26,738 05 104,619 03 19,376 97 Conducting Transp. . General Expenses . . 963,923 75 93,672 72 1,011,564 31 98,010 64 Totals $2,618,377 14 $2,547,165 63 Totals $1,887,136 22 $1,902,497 08 Totals per Mile. 3,809 10 3,705 50 Totals per Mile. 2,745 32 2.767 67 Net earnings, 1901-02 (25.31 p. c.), $644,668.55; other income, $1,745 — total, 413.55. Payments: Taxes, $70,142.03; rentals, $1,421 ; interest on bonded debt, $756,000; on floating debt, $140,350.11; miscellaneous expenses, $199.46; additions and betterments, $54,882.41— total, $1,022,995.01. Deficit for year, $376,581.46; deficit forward, $2,728,- 685.71— total, $3,105,267.17. The deficit for the year was advanced by the Southern Pacific Co., together with $19,718.84 for the redemption of equipment trust notes and for other purposes. General Balance Sheet, June 30, 1901 (latest rendered). Cost of Road and Franchises $23,542,947 10 Additions, etc., since Jan. 1, 1893 641,062 72 $24,184,009 82 Cash and Current Assets 316,961 61 Deferred Assets 4,788 88 Contingent Assets 2,970 44 Profit and Loss 2,728,68571 Capital Stock ($100 shares) Funded Debt ( see below) Equip. Trust Notes ($587.09 monthly). Current Liabilities Estimated Taxes, 6 mos. to June 30.. Unclaimed Wages Southern Pacific Co $5,000,000 00 18,900,000 00 19,961 06 617,619 94 34,000 00 2,051 46 2,663,784 01 Total Assets $27,237,41646 Total Liabilities $27,237,41646 Funded Debt consists of 1st gold 4s of Jan. 1, 1943. The authorized issue is $21,600,000, the unissued balance being reserved for extensions limited to 100 miles, at $27,000 per mile. The bonds are guaranteed, both as to principal and interest, by the Southern Pacific Co., the guaranty being endorsed on each bond. Directors (as constituted July 7, 1903).— Wm. D. Cornish, New York, N. Y.; C. K. Hudson, M. D. Monserrate, E. J. Martin, J. W. Terry, Thomas B. Palfrey, R. H. Innes, Eeagan Houston, A. W. Houston, San Antonio, Tex. OFFICERS: C. E. HUDSON, Pres.; M. D. Monserrate, Vice-Pres. & Gen. ~M.gr.; Reagan Houston, Sec.; E. C. Tarrant, Treas.; J. W. Terry, Auditor, San Antonio, Tex. GENERAL OFFICES, Maverick Bank Building, San Antonio, Tex., and 120 Broadway, New York, N. Y. AT.ATVTEDA AND SAN JOAOOTN RR.— Stockton to Tesla, Cal., 36.10 m. ; total track (steel; 62 IDS.), 42.10 miles. Gauge, 4 ft. 81 in. Organized May 1, 1895; road completed July 1, 1896. Operated principally for hauling coal. Locomotives, 2. Freight cars (box, 18; flat, 40; coal, 20), 78. Operations. — Not reported ; for latest statement, see MANUAL for 1902, page 614. General Balance Sheet, June 30, 1901 (latest rendered).- — Capital stock ($100 shares), $500,000; bills payable, $553,500; current liabilities, $12,776; profit and loss, $39.361 — total, $1,105,637. Contra: Cost of road and equipment, $788,424; materials, etc., $3,738; cash and current assets, $313,475 — total, $1,105,637. Directors. — J. Dalzell Brown, James Treadwell, W. J. Bartnett, John Treadwell, B. M. Brad- ford, San Francisco, Cal. OFFICERS: JAMES TREADWELL, Pres.; W. J. Bartnett, Vice-Pres. ; B. M. Bradford, Sec. ; J. Dalzell Brown, Treas., San Francisco, Cal. GENERAL OFFICE, San Francisco, Cal. ARCATA AND MAD RIVER RR. — Arcata Wharf to Korbel, Cal., 14 m. ; Korbel to and along Mad River, 5.25 m. — total, 19.25 m. ; total track (steel, 17.5 m.), 23 miles. Gauge, 3 ft. 9J In. Rail, 30, 35, and 40 Ibs. Organized Dec. 29, 1881 ; road opened as above in 1893. Locomotives, 6. Cars — passenger, 2; freight (box, 3; flat, 160), 163; service, 22 — total, 187. Operations. — Not reported ; for latest statement see MANUAL for 1901, page 649. Financial Statement, June 30, 1900 (latest rendered). — Capital stock paid in ($300,000 auth. ; $20 shares), $187,740; loans and bills payable, $12,351; wages and salaries, $501 — total, $200,592. Contra : Cost of road, $157,799 ; equipment, $39,561 ; water works, $1,775 ; lands owned, $16,669 ; cash, $43 ; other assets, $3,703 — total, $219,551. Directors. — F. Korbel, A. Korbel, J. Korbel, Anna Korbel, Therese Korbel, San Francisco, Cal. OFFICHHS : F. KORBEL, Pres.; J. Korbel, Sec. & Treas.; San Francisco, Cal.; V. Zaruba, Supt., Arcata, Cal. GENERAL OFFICE, 723 Bryant St., San Francisco, Cal. POOR'S MANUAL OF RAILROADS. 669 ARIZONA AND NEW MEXICO RY. — Lordsburg, N. M., to Clifton, Ariz., 71 m. ; total track (steel; 50 Iby.), 76 miles. Gauge, 4 ft. 8J in. Consolidation, Aug. 1, 1883, of the Clifton and Lordsburg RR. and the Clifton and Southern Pacific RR. Built by the Arizona Copper Co., for the purpose of hauling coke, supplies and copper from its mines. (See MANUAL, for 1884, page 990.) Locomotives, 15. Cars — passenger, 2 ; freight (box, 16 ; flat, 29 ; coal, 83 ; oil-tank, 6), 134 ; .other, 7 — total, 143. Operations, year ending June 30, 1902. — Gross earnings (passenger, $56,422; freight, $638,- 272; other, $493), $695,187. Operating expen.3es, $169,098. Net earnings, $526,089; other in- come, $2,930 — total, $529,019. Total deductions, $86,806. Surplus, $442,213. Q-eneral Balance Sheet, June 30, 1901 (latest rendered). — Capital stock, $1,500,000; funded debt (1st 6s of May 1, 1896), $1,294,533 ; current and other liabilities, $171,442 ; accrued interest, $12,945 ; profit and loss, $225,735 — total, $3,204,655. Contra : Cost of road, etc., $2,425,270 : materials, etc., $86,334 ; accounts and cash, $42,574 ; other assets, $650,477 — total, $3,204,655. The bonds are guaranteed by the Arizona Copper Co., and are subject to redemption out of sinking fund accumulated by that company. Directors. — James Colquhoun, M. J. Egan, J. G. Hopkins, J. D. A. Smith, L. Fraissinet, Mur- ray Innes, Clifton, Ariz. ; Joseph A. Leahy, Benj. Titus, Lordsburg, N. M. OFFICERS : JAS. COL- QUHOUN, Pres. ; Alex. Veitch, 1st Vice-Pres. ; J. G. Hopkins, 2d Vice-Pres. ; A. T. Thomson, Sec. & Treas.; H. J. Simmons, Supt., Clifton, Ariz. GENERAL OFFICE, Clifton, Ariz. ARIZONA AND UTAH RY. — Projected : McConnico to White Hills, Ariz., 50 miles. Com- pleted to June 30, 1902 : McConnico to a point 3.5 m. beyond Chloride, Ariz., 25 m. ; trackage, S. F. P. RR. Co. ; McConnico to Kingman, 4.25 m. — total operated, about 29.25 miles. Sidings, about 1.5 miles. Gauge, 4 ft. 8J in. Rail (steel, 26.5 m.), 56 Ibs. Chartered April 10, 1899; road opened to Chloride, 21.5 miles, on April 16, 1899 ; as above, April 25, 1900. Locomotives, 2. Cars — pas- senger, 1; freight (box, 4; flat, 3; refrigerator, 1), 8 — total carp, 9. Operations, year ending June 30, 1902. — Earnings (passenger, $5,360; freight, $24,728; other, $1,723), $31,811. Operating expenses, $24,926. Net earnings, $6,885. Paid interest on bonds, $20,040. Deficit, $13,155 ; deficit forward, $17,059 — total, $30,214. Qeneral Balance Sheet, June 30, 1902. — Capital stock ($600,000 auth. ; $100 shares), $467,- 000; funded debt (1st 6s of April 1, 1929), $334,000; current liabilities, $32,397; interest accrued, $5,010 — total, $838,407. Contra: Cost of road and equipment, $801,000; sundries, $1,173; ma- terials, etc., $2,031 ; cash and current assets, $3,989 ; profit and loss, $30,214 — total, $838,407. Directors.' — F. L. Underwood, H. A. James, S. B. McConnico, R. H. Eggleston, New York, N. Y. ; T. B. Comstock, Los Angeles, Cal. OFFICERS : F. L. UNDERWOOD, Pres. ; S. B. McConnico, Vice-Pres. & Gen. Mgr.; R. H. Eggleston, Sec. & Treas., New York, N. Y. ; N. W. Tarr, Supt., King- man, Ariz. GENERAL OFFICE, 31 Nassau St., New York, N. Y. ASTORIA AND COLUMBIA RIVER RR. — Goble to Seaside, Ore., 78.6 m. ; Warrenton to Fort Stevens, Ore., 3.4 m. ; trackage, N. P. Ry., Goble to Portland, Ore., 39.5 m. — total (owned, 82 m.), 121.5 m. ; total track owned (steel; 50 to 75 Ibs.), 95.25 miles. Gauge, 4 ft. 8J in. Chartered April 4, 1895 ; road opened throughout, May 17, 1898. Locomotives, 8. Cars — passen- ger, 20; baggage, mail, and express, 5; freight (box, 50; flat, 107), 157; caboose, 3 — total, 185. Operations, year ending June 30, 1902. — Trains run ( passenger, 159,924 ; freight, 29,212 ; mixed, 38,820), 227,956 miles. Passengers carried, 195,963; carried one mile, 10,319,057. Tons freight moved, 93,374; ton-miles, 5,709,578. Earnings (passenger, $166,520; freight, $105,741; other, $34,693), $306,954. Operating expenses, $190,239. Net earnings, $116,715; other receipts, $1,761 — total, $118,476. Payments: Interest on bonds, $131,200; taxes, $9,311 — total, $140,511. Deficit, $22,035 ; deficit forward, $403,184 — total, $425,219. Qeneral Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,619,000; funded debt (1st 4s of 1997-99), $3,280,000; current liabilities, $19,769; interest accrued, $492,305; other liabilities, $789 — total, $5,411,863. Contra : Cost of road and equipment, $4,915,394 ; materials, etc., $25,413 ; cash and current assets, $45,837 ; profit and loss, $425,219 — total, $5,411,863. Directors.- — A. B. Hammond, San Francisco, Cal.; Charles F. Beebe, Portland, Ore.; C. W. Fulton, F. D. Kuettner, T. H. Curtis, Astoria, Ore. OFFICERS: A. B. HAMMOND, Pres.; Wm. G. Gosslin, Sec., San Francisco, Cal. ; T. H. Curtis, Treas.; F. D. Kuettner, Aud., Astoria, Ore. GEN- ERAL OFFICE, Astoria, Ore. BELLINGHAM BAY AND BRITISH COLUMBIA RR. — Whatcom to Sumas, Wash., 23.32 m. ; Sumas to Maple Falls, 13.71 m. ; branches and spurs, 4.85 m. — total, 41.88 m. ; total track (steel; 50, 56 and 60 Ibs.), 46.24 miles. Gauge, 4 ft. 8J in. Chartered May 3, 1883; road opened to Sumas in 1891. The extension to Maple Falls, 13.71 miles, was opened in 1901, and a further extension of about 12 miles, up the North Fork of the Nooksack River, is under construction. Locomotives, 8. Cars — passenger, 7 ; freight (box, 4 ; flat, 63 ; coal, 60 ; log, 32), 159 ; service, 2 — total, 168. Operations, year ending June 30, 1902. — Trains run (passenger, 17,687 ; mixed, 64,375 ; other, 2,675), 84,737 miles. Passengers carried, 41,025; carried one mile, 1,123,265. Tons freight moved, 149,156; ton-miles, 2,983,120. Earnings (passenger, $33,950; freight, $105,567; other, $8,785), $148,302. Operating expenses, $96,080. Net earnings, $52,222; other receipts, $929 — total, $53,151. Total deductions, $82,532. Deficit for year, $29,381. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,000,000; funded debt (1st 5s of Dec. 1, 1932; $1,000,000 auth.), $500,000; current liabilities, $20,215; interest accrued, $2,083 ; other liabilities, $171,800 — total, $1,694,098. Contra : Cost of road and equip- ment, $1,254,212 ; permanent investments, $38,047 ; materials, etc., $5,485 ; cash and current as- sets, $98,912; profit and loss, $297,442 — total, $1,694,098. Funded Debt. — Since the close of the fiscal year $50,000 additional bonds have been issued, making total of $550,000 now outstanding. The authorized issue is $1,000,000 ; the remaining $450,000 are reserved in escrow to be issued for future extensions at not exceeding the rate of $15,000 per mile, it being provided that these reserved bonds can be issued only when the net timings of the road for the preceding year shall have been equal to at least double the interest on all bonds then outstanding and on those proposed to be issued. There is provision for a sinking fund, commencing Dec. 1, 1911, of 3 p. c. of the bonds then outstanding, to be applied to the purchase and cancellation of the bonds or to be invested in other securities approved by the laws of California for the investment of trust funds. Directors. — P. B. Cornwall, A. Hayward, S. P. Smith, H. H. Taylor, J. P. Hopkins, Frank G. Drum, H. G. Stevenson, San Francisco, Cal. OFFICERS : P. B. CORNWALL, Pres. ; S. P. Smith, Vice- Pres. & Treas.; J. P. Hopkins, Sec.; E. H. Hammond, Aud., San Francisco, Cal. GENERAL OFFICE, San Francisco, Cal. 670 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. BOISE. NAMPA AND OWYHEE BY. — Nampa to Murphy. Id., 31 m. ; total track (steel ; 52 and 60 IDS.), 31.75 miles. Gauge, 4 ft. 81 In. Chartered Feb. 7, 1896 ; road opened from Nampa to Guffey, Id., 24 m., on March 16, 1897 ; extended to Murphy, Id., 7 m.. on Aug. 24, 1899. Locomotives, 2. Cars — freight (box, 4; flat, C). 10. Operations, year ending June 30, 1902. — Trains run (passenger, 22,632; freight, 67,890; other, 22,630), 113,152 miles. Passengers carried, 6,794; carried one mile, 190,232. Tons freight moved, 6,447; ton-miles, 176,097. Earnings (passenger, $9,086; freight, $19,496; other, $2,528), $31,110. Operating expenses, $15,645. Net earnings, $15,465 ; other receipts, $941 — total income, $16,406. Paid taxes, $2,845. Surplus, $13,561 ; surplus forward, $15,669 — total, $29,230. De- ductions during year, $26,333. Net surplus, $2,897. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,000,000; current liabilities, $653; profit and loss, $2,897 — total, $1,003,551. Contra: Cost of road and equipment, $350,154 ; materials, $3,025 ; cash and current assets, $49,977 ; capital stock paid in, $600,395 — total, $1,003,551. Directors. — W. H. Dewey, E. H. Dewey, Nampa, Id. ; R. E. Green, F. G. Mock, W.E.Borah, Boise, Id. OFFICERS: WM. H. DEWEY, Pres.; E. H. Dewey, Vice-Pres.; R. E. Green, Sec.; F. G. Mock, Treas.; W. J. McClelland, And.; J. M. Clark, Gen. Supt. & Chief Eng., Nampa, Id. GKNEKAL OFFICE, Nampa, Id. BUCKSPORT AND ELK RIVER RR.— Bucksport to Folks Mill, Cal., 8.1 miles. Gauge, 4 ft. 8J in. Rail (steel), 50 Ibs. Chartered July 25, 1884; road opened Jan. 1, 1886. This is a logging road. Locomotives, 2. Cars — flat, 8 ; logging, 29 — total, 37. Only 1 locomotive and 20 cars are in service. Operations, year ending Dec. 31, 1902. — Earnings (freight), $19,857. Operating expenses, $5,784. Net earnings, $14,073. Paid dividends, $10,000. Surplus for year, $4,073. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock ($500,000 auth. ; $100 shares), $230,000; current liabilities, $1,064; profit and loss, $5,261 — total, $236,325. Contra : Cost of road and equipment, $221,464 ; real estate, $2,690 ; cash and current assets, $7,455 — total, $231,609. Directors. — Wm. Carson, Josiah Bell, J. M. Carson, Eureka, Cal. ; J. R. Hanify, A. C. Hooper, San Francisco, Cal. OFFICERS : WM. CABSON, Pres.; J. M. Carson, Treas.; Josiah Bell, Sec. & Gen. Mgr., Eureka, Cal. GENERAL OFFICE, Eureka, Cal. COLUMBIA SOUTHERN RY. — Projected : Biggs to Prineville, Ore., 127 m. ; Shaniko to Canyon City, Ore., 90 m. — total, 217 miles. Completed up to Jan. 1, 1903 : Biggs to Shaniko, Ore., 69.49 m. ; Hay Canon Spur, 0.60 m. ; total, 70.09 m. ; trackage, O. RR. & N. Co. at Biggs, Ore., 0.51 m. — total operated, 70.6 m. ; total track owned (steel ; 56 Ibs., 65.40 m.), 74.72 miles. Gauge, 4 ft. 81 in. Chartered March 4, 1897 ; road opened from Biggs to Wasco, 9.5 m., on Oct. 6, 1897 ; extension from Wasco to Moro, 18 m., opened Jan. 13, 1899 ; Moro to Grass Valley, 11.5 m., on March 27, 1900 ; Grass Valley to Shaniko, 31 m., May 13, 1900. Locomotives, 4. Cars — passen- ger, 3 ; baggage, etc., 1 ; freight (box), 2 — total cars, 6. Operations, year ending Dec. 31, 1902. — Trains run (freight, 9,890; mixed, 51,870), 61,760 miles. Passengers carried, 30,812 ; carried one mile, 1,048,855. Tons freight moved, 63,524 ; ton- miles, 2,095,870. Earnings (passenger, $41,680; freight, $105,701; other, $9,461), $156,842. Operating expenses, $87,148. Net earnings, $69,694 ; other receipts, $709 — total, $70,403. Pay- ments : Interest on bonds, $35,000 ; taxes, $5,373 — total, $40,373. Surplus, $30,030 ; surplus for- ward, $54,291 — total, $84,321. General Balance Sheet, Dec. 31, 1902. — Capital stock ($100 shares), $300.000; funded debt (1st 5s of Dec. 1, 1948), $700,000; current liabilities, $38,248; interest accrued, $2,917; accrued taxes, $2,700 ; profit and loss, $84,321 — total, $1,128,186. Contra : Cost of road and equip- ment, $1,062,869; materials, etc., $16,600; cash and current assets, $48,717 — total, $1,128,186. Directors. — E. E. Lytle, May Enright, J. H. Page, Henry Hahn, Portland, Ore. ; W. H. Moore, Moro, Ore. OFFICEBS : E. E. LYTLE, Pres. & Gen. Mgr., Portland, Ore. ; W. H. Moore, Vice-Pres. & Treas., Moro, Ore. ; May Enright, Sec., Portland, Ore. ; E. D. Woodbury, Supt., Shaniko, Ore. ; E. B. De Yoe, Aud., Portland, Ore. GENERAL OFFICE, Portland, Ore. COLUSA AND LAKE RR. — Colusa to Sites, Cal., 22 m. ; total track (steel; 30 and 35 Ibs.), 24.5 miles. Gauge, 3 ft Consolidation, Nov. 27, 1886, of the Colusa and the Colusa and Lake RR. Cos. (See MANUAL for 1890, page 603.) Locomotives, 3. Cars — passenger, 3; bag- gage, etc., 2; freight (box, 4; flat, 27), 31 — total cars, 36. Operations, year ending June 30, 1902. — Trains run, 24,400 miles. Passengers carried, 11,- 800. Tons freight moved, 21,940. Earnings (passenger, $8,269; freight, $15,058; other, $1,433), $24,760. Operating expenses, $11,407. Net earnings, $13,353 ; other receipts, $193 — total, $13,- 546. Payments : Interest on bonds, $3,960 ; taxes, $735 ; dividends (3 p. c.), $3,015 — total, $7,710. Surplus, $5.836 ; surplus forward, $34,493 — total, $40,329. General Balance Sheet, June 30, 1902. — Capital stock ($400,000 auth.; $100 shares), $100,500; funded debt (trust 6s of April 1, 1907), $66,000; profit and loss, $40,329 — total, $206,- 829. Contra : Cost of road and equipment, $199,071 ; cash on hand, $7,758 — total, $206,829. Directors.— W. P. Harrington, J. W. Goad, Chas. Richardson, J. Morris Jones, T. Harrington, Colusa, Cal. ; P. R. Peterson, P. Peterson, Sites, Cal. ; J. H. Roberts, P. J. Harney, Sacramento, Cal. OFFICERS: W. P. HARRINGTON, Pres.; 3. W. Goad, Vice-Pres.; Colusa Co. Bank, Treas.; T. Harrington, Sec., Colusa, Cal. CONGRESS CONSOLIDATED MINES CO., LTD., RR. — Congress to Congress Junction, Ariz., 6 m. Gauge, 4 ft. 81 in. Rail (steel), 56 Ibs. Road opened July 1, 1896. Owned by the Congress Consolidated Mines Co., Ltd. ; no separate organization. Locomotives, 2. Cars — pas- senger, 1; freight (flat), 3 — total, 4. OFFICERS OF CONGRESS CONSOLIDATED MINES Co., LTD.: E. B. GAGE, Pres., Congress, Ariz. ; F. M. Murphy, Vice-Pres., Prescott, Ariz. ; A. N. Gage, Sac. £ Treas.; G. W. Dietz, Asst. Treas.; W. F. Staunton, Gen. Mgr., Congress, Ariz. GENERAL OFFICE, Congress, Ariz. • COOS BAY, ROSEBURG AND EASTERN RR. AND NAVIGATION CO.— Pro- jected : Marshfleld, Ore., to Roseburg, Ore., 88.1 miles. Completed Jan. 1, 1902 : Marshfield to Myrtle Point, Ore., 25.86 m. ; Beaver Hill June, to Beaver Hill, 1.89 m. — total, 27.75 m. ; total track (steel; 65 Ibs.), 31.46 miles. Gauge, 4 ft. 81 in. Chartered in June, 1890; road opened to Myrtle Point in Aug., 1893 ; spur completed Aug. 22, 1894. Extension from Myrtle Point to Rose- burg, 62.5 m., was permanently located in Sept., 1893. The road is in the hands of a receiver. Locomotives, 3. Cars — passenger, 2; freight (box, 6; flat, 24; logging, 12; coal, 20), 62 — total, 64. POOR'S MANUAL OF RAILROADS. 671 General Balance Sheet, June 30, 1897 (latest rendered). — Capital stock ($100 shares), $2,- 000,000; funded debt (1st 6s of April 1, 1921), $625,000; matured interest coupons unpaid, in- cluding coupons due July 1, 1897, $155,340 ; accrued interest not yet payable, $6,250 — total, $2,786,590. Contra: Cost of road, $625,000; capital stock (nominal issue) owned and controlled by corporation and its promoters, $2,000,000 ; profit and loss, $161,590 — total, $2,786,590. Directors. — T. R. Sheridan, Roseburg, Ore. ; J. W. Bennett, R. A. Graham, F. N. McLean, J. B. Hassett, O. J. Seeley, F. J. Denevue, Marshfleld, Ore. OFFICERS : W. S. CHANDLER, Receiver, Marsh- field, Ore.; T. R. SHERIDAN, Pres. ; Roseburg, Ore.; J. W. Bennett, Vice-Pres. ; J. B. Hassett, Sec., Treas. & Aud., Marshfleld, Ore. GENERAL OFFICE, Marshfleld, Ore. CORONADO RR. — Coronado to San Diego, Cal., 20.26 m. ; Coronado to Hotel del Coronado (electric), 1.44 m. ; branches, 5.50 m. — total. 27.20 m. ; total track (steel; 45 Ibs.), 32.80 miles. Gauge, 4 ft. 8J in. Chartered April 7, 1886, and road completed as above, Dec. 31, 1888. Loco- motives, 7. Cars — passenger, 19 ; baggage, etc., 2 ; freight (flat, 32 ; coal, 8), 40 ; tank, 3 — total, 64. Operations. — All information refused ; for latest statement, see MANUAL for 1901, page 652. General Balance Sheet, June 30, 1900 (latest rendered). — Capital stock ($100 shares), $500,000 ; current liabilities, $128,686 ; profit and loss, $318,774 — total, $947,460. Contra : Cost of road and equipment, $865,155 ; materials, etc., $11,160 ; cash and current assets, $71,145 — total, $947,460. Directors. — John D. Spreckels, San Francisco, Cal. ; E. S. Babcock, C. T. Hinde, W. Clayton, San Diego, Cal. ; A. E. Babcock, Coronado, Cal. OFFICERS : JOHN D. SPRECKELS, Pres., San Francis- co, Cal.; E. S. Babcock, Vice-Pres. ; Wm. Clayton, Sec., Treas. & Gen. Mgr.; B. M. Warner, Supt., Coronado, .Cal. GENERAL OFFICE, San Diego, Cal. COB.VAliL.IS AND EASTERN RR. — Yaquina to Idahua, Ore., 142 m. ; total track ( steel, 150 m.), 155 miles. Gauge, 4 ft. 8J in. Rail — iron, 36; steel, 50 and 56 Ibs. This company operates a line of steamboats on the Willamette River, between Portland and Corvallis, in connec- tion with its railroad lines. Chartered Dec. 15, 1897, to build a line from Yaquina Bay to the Snake River in Malheur County, Ore., with a branch from near Prineville through Lake County into California. Purchased the property of the Oregon Central and Eastern RR., owning the completed road from Yaquina to Idahua, Ore., 142 miles. (See MANUAL for 1897, page 263.) Locomotives, 8. Cars — passenger, 6 ; baggage, etc., 3 ; freight (box, 190 ; flat, 77), 267 ; service, 10 — total, 286. Operations, year ending June 30, 1902. — Trains run (passenger, 1,732; mixed, 86,112; other. 5,961), 93,805 miles. Passengers carried, 52,330; carried one mile, 1,628,703. Tons freight moved, 138,351; ton-miles, 3,085,081. Earnings (passenger, $42,252; freight, $73,885; other, $12,756), $128,893. Operating expenses, $94,374. Net earnings, $34,519 ; other receipts, $3 — total, $34,522. Payments : Interest on bonds, $56,400 ; other interest, $6,167 ; taxes, $4,653 — total, $67,220. Deficit, $32,698 ; deficit forward, $129,008 — total, $161,706. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $1,410,000; funded debt (1st 4s of Feb. 1, 1998), $2,115,000; current liabilities, $82,943; interest accrued, not due, $249,100 — total, $3,857,043. Contra: Cost of road and equipment, $2,944,443; bonds in treasury, $705,000; materials, etc., $20,974; cash and current assets, $24,920; profit and loss, $161,706 — total, $3,857,043. Directors. — A. B. Hammond, San Francisco, Cal. ; J. K. Weatherford, C. Sullivan, Albany, Ore. OFFICERS: A. B. HAMMOND, Pres., San Francisco, Cal.; T. H. Curtis, Treas.; Edwin Stone, Sec., Albany, Ore. ; F. D. Kuettner, Aud., Astoria, Ore. GENERAL OFFICE, Albany, Ore. EEL RIVER AND EUREKA RR. — Eureka to Burnells, Cal., 25 m. ; total track (steel; 50 and 60 Ibs.), 34 miles. Gauge, 4 ft. 8i in. The company operates the California and Northern RR. under lease (see appended statement). Chartered Nov. 14, 1882; road opened throughout, July 6, 1885. Locomotives (1 leased), 4. Cars — passenger, 8; baggage, etc., 2; freight (box, 14; flat, 28; lumber, 36), 78 — total, 88. Operations, year ending June 30, 1902. — Trains run (mixed), 65,500 miles. Passengers car- ried, 68,970; carried one mile, 1,862,190. Tons freight moved, 150,000; ton-miles, 4,200,000. Earnings (passenger, $47,263; freight, $105,664; ether, $21,838), $174,765. Operating expenses, $117,567. Net earnings, $57,198. Payments: Interest on bonds, $24,590; taxes, $4,485; dividends (5 p. c.), $24,000 — total, $53,075. Surplus, $4,123; deficit forward, $150,674; net deficit, $146,551. General Balance Sheet, June 30, 1902. — Capital stock ($1,200,000 auth. ; $100 shares), $480,000 ; funded debt, $462,000 ; current liabilities, $11,265 — total, $953,265. Contra : Cost of road and equipment, $752,536 ; materials, etc., $4,525 ; cash on hand, $49,653 ; profit and loss $146,551 — total, $953,265. Funded Debt consists of $149,000 1st mtge. 6 p. c. 20-yr. bonds, due Oct. 1, 1903, and $313,000 1st mtge 5 p. c. 20-yr. bonds, due Oct. 1, 1914. RAILROAD LEASED BY THE EEL RIVER AND EUREKA RR. Co. California and Northern RR. — Eureka to Arcata, Cal., 9 miles. Gauge, 4 ft. 8i in. Rail (steel), 60 Ibs. Chartered March 5, 1901 ; road completed as above in July, 1901. Leased to Eel River and Eureka RR. Co., after the close of the fiscal year 1900-01. Capital stock, paid in to Jan. 23, 1902 ($2,500,000 auth.; $100 shares), $236,300, all of which has been expended. John L. Koster, Pres. ; P. N. Lilienthal, Vice- Pres. ; Anglo-Californian Bank, Treas. ; Chas. S. Neal, Sec., San Francisco, Cal. Office, San Fran- cisco, Cal. Directors (E. R. & E. RR. Co.). — John M. Vance, William Carson, J. M. Carson, J. N. Gillett. H. P. Vance, T. R. Lever, Eureka, Cal. ; John Dolbeer, San Francisco, Cal. OFFICERS : JOHN M. VANCE, Pres. & Gen. Mgr.; William Carson, Vice-Pres. ; Humboldt County Bank, Treas.; T. R. Lever, Sec., Eureka, Cal. GENERAL OFFICE, Eureka, Cal. EUREKA AND KLAMATH RIVER RR. — Samoa to Little River, Cal., 20 m. ; Arcata towards Eureka, Cal., 3.30 m. ; seven logging spurs, 8 m. — total, 31.30 m. ; total track (steel ; 56 and 60 Ibs.), 35. 63 miles. Gauge, 4 ft. 8j in. Chartered Jan. 6, 1896. Absorbed the Humboldt Bay and Trini- dad RR. Road built 1896 to 1899. Reorganized without change of name Sept. 1, 1900. Locomotives, 6. Cars — passenger, 2; freight (box, 5; flat, 55; logging, 98), 158; service, 1 — total, 161. The com- pany also owns 2 freight and passenger steamers and 4 scows. Operations, year ending June 30, 1902. — Passengers carried, 43,864 ; carried one mile, 779,- 688. Tons freight moved, 134,364; ton-miles, 2,337,934. Earnings (passenger, $19,438- freight, $93,428; other, $4,443), $117,309. Operating expenses, $66,065. Net earnings, $51,244. Pay- ments : Taxes, $3,014 ; other charges, $25 — total, $3,039. Surplus, $48,205 ; surplus forward ($25,500; less deductions during year, $530), $24,970 — total, $73,175. General Balance Sheet. June 30, 1902. — Capital stock ($100 shares), $500,000; current 672 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. liabilities, $190.994 ; profit and loss, $73,176 — total, $764,170. Contra : Cost of road and equip- ment. $724,324 ; materials, etc., $20,205 ; cash on hand, $19,641 — total, $764,170. Directors. — A. B. Hammond, San Francisco, Cal. ; G. W. Fenwick, W. G. Gosslin, Eureka, Cal. ; E. H. Vance, Oakland, Cal. ; S. A. Vance, Los Angeles, Cal. OFFICERS : A. B. HAMMOND, Pres., San Francisco, Cal. ; E. H. Vance, Vice-Pres., Oakland, Cal. ; G. W. Fenwick, Treas,, Eureka, Cal. ; W. G. Gosslin, Sec., San Francisco, Cal. ; H. Trinwith, And., Eureka, Cal. GENERAL OFFFICE, Eureka, Cal. EUREKA AND PALISADE BY. — Palisade to Eureka, Nev., 84 m. ; total track (steel, 70 m.), 86.5 miles. Gauge, 3 ft. Rail, 30 and 35 Ibs. Reorganization, Feb. 1, 1902, of the Eureka and Palisade RR. (see MANUAL for 1902, page 618). Locomotives, 4. Cars — passenger, 4; bag- gage, etc., 1; freight (box, 21; stock, 16; flat, 47; coal, 8), 92; caboose, 1 — total, 98. Operations, four months ending June 30, 1902. — Trains run ( passenger, 68 ; freight, 92 ; mixed, 21,538), 21,698 miles. Passengers carried, 847; carried one mile, 53,684. Tons freight moved, 5,002; ton-miles, 395,361. Earnings (passenger, $3,950; freight, $17,175; other, $2,175), $23,300. Operating expenses, $16,053. Net earnings, $7,247 ; other receipts, $417 — total, $7,664. Payments: Taxes, $150; dividends (4 p. c.), $12,000 — total, $12,150. Deficit, $4,486; surplus forward, $48,409 ; net surplus, $43,923. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $300,000; current liabilities, $2,535 ; profit and loss, $43,923 — total, $346,458. Contra : Cost of road and equip- ment, $297,700 ; real estate, $15,000 ; materials, etc., $5,635 ; cash and current assets, $27,243 ; other assets, $880 — total, $346,458. Directors (elected June 2, 1902). — M. L. Requa, H. H. Taylor, H. J. McMeichaels, San Fran- cisco, Cal. ; Chas. Read, Chas. L. Rood, Salt Lake City, Utah. OFFICERS : M. L. REQUA, Pres., San Francisco, Cal. ; G. D. Abbott, Treas. & Sec., Eureka, Nev. GENERAL OFFICE, Eureka, Nev. QOBLE, NEHALEM AND PACIFIC BY. — Goble to Mooreville, Ore., 6 m. ; branch at Mooreville, 2 m. — total, 8 miles. Gauge, 4 ft. 8| in. Rail (steel), 56 Ibs. Reorganization In Feb., 1902, of the Goble, Nehalem and Pacific RR. Co., which was sold under foreclosure. The road is operated primarily for logging purposes, but it is intended to extend it to Tillamook and Nehalem Bays, about 95 miles. In Sept., 1902, the company had 4 miles under construction, and intended to build 10 miles additional in the spring of 1903. Locomotives, 2. Cars — passenger, 1 ; freight, 13. Capital stock, fully paid, $50,000. Cost of road to June 30, 1902, $150,000 ; estimated cost of road to completion, $1,500,000. The company has no bonded debt. Directors. — L. C. Stanley, Chippewa Falls, Wis. ', W. S. Dwinnell, Minneapolis, Minn. ; J. N. Teal, F. S. Stanley, Portland, Ore. ; Robert Smith, Perry, Ore. OFFICERS : F. S. STANLEY, Pres. & Gen. Mgr., Portland, Ore. ; W. S. Dwinnell, Vice-Pres., Minneapolis, Minn. ; J. N. Teal, Sec., Port- land, Ore. GENERAL OFFICE, Goble, Ore. HETCH-HETCHY AND YOSEMITE VALLEYS BY. OF CAL.— Projected : Car- ters to Hetch-Hetchy and Yosemite Valleys, 75 m. ; branch from Nashton to Calaveras Big Trees, 25 m. ; other branches, 25 m. — total, 125 miles. Completed up to Jan. 1, 1903 : Tuolumne, Cal., to Sec. 33 T 2 N. 17 E, 35 miles. Gauge, 3 ft. Rail (steel), 40 Ibs. Chartered in 1900. This is a kindred corporation to the West Side Lumber Co., of Tuolumne, Cal., both corporations having the same set of officers. The West Side Lumber Co. owns about 50,000 acres of timber land, and has a saw mill plant at Carters. The railroad penetrates a country rich in timber and in gold-bearing ledges. Connection is made at Tuolumne with the Sierra Ry. of Cal. The company owns 7 loco- motives, 1 passenger car, and 150 freight cars. Capital stock paid in ($1,000,000 auth. ; $100 shares), $395,000. Estimated cost of road to completion, $1,000,000. Directors. — Wm. H. Crocker, Henry J. Crocker, T. S. Bullock, Chas. T. Gardner, W. Gregg, Jr., San Francisco, Cal. OFFICERS : G. W. KLINE, Pres. ; J. T. Adams, Vice-Pres. & Gen. Mgr. ; Chas. F. Gardner, Sec.; Wellington Gregg, Treas., Tuolumne, Cal. GENERAL OFFICE, Tuolumne, Cal. LAKE TAHOE BY. AND TBANSPOBTATION CO.— Truckee to Tahoe, Cal., 15 m. ; total track (steel, 15 m.), 17 miles. Gauge, 3 ft. Rail, 35 and 40 Ibs. Chartered Dec. 19, 1898; road opened May 1, 1900. Locomotives, 2. Cars — passenger, 3; baggage, etc., 1; freight (box, 3; flat, 61), 64 — total, 68. Operations, year ending June 30, 1902. — Earnings (passenger, $12,708; freight, $16,495), $29,203. Operating expenses, $15,733. Net earnings, $13,470 ; other receipts, $6,066 — total, $19,536. Total deductions, $7,900 ; surplus for year, $11,636. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock ($100 shares), $200,000; funded debt (see Ready Reference Bond List), $100,000; current liabilities, $11,000; profit and loss, $9,355 — total, $320,355. Contra : Cost of road and equipment, $292,216 ; materials, etc., $11,818 ; cash and current assets, $16,321 — total, $320,355. Directors. — D. L. Bliss, W. D. Tobey, M. L. Requa, W. D. Bliss, H. J. Knowles, San Fran- cisco, Cal. ; C. T. Bliss, Overton, Cal. ; Duane L. Bliss, Jr., Tahoe, Cal. ; one vacancy. OFFICERS : D. L. BLISS, Pres.; W. D. Tobey, Vice-Pres.; W. D. Bliss, Treas., San Francisco, Cal. ; C. T. Bliss, Sec., Overton, Cal. GENERAL OFFICE, San Francisco, Cal. McCLOUD BIVEB BB. — Projected : Upton to Alturas, Cal., 125 miles. Completed up to June 30, 1902 : Upton to McCloud, Cal., 18.32 m. ; McCloud to Ash Creek, Cal., 12.31 m. ; main line extension to Bartles, 4.50 m.— total, 35.13 m. ; total track (steel; 56 Ibs.), 41.20 miles. Gauge, 4 ft. 8J in. Chartered Jan. 22, 1897 ; road opened as above in June, 1901. Locomotives, 8. Cars — passenger, 1; freight (tank, 5; flat, 206; box, 12), 223 — total, 224. Operations, year ending June 30, 1902. — Passengers carried, 2,641 ; carried one mile, 51,003. Tons freight moved, 97,200; ton-miles, 1,844,040. Earnings (passenger, $2,374; freight, $125,787; other, $197), $128,358. Operating expenses, $100,087. Net earnings, $28,271. Payments: Interest on bonds, $12,320 ; other interest, $4,564 ; taxes, $1,696 — total, $18,580. Surplus, $9,691 ; surplus forward, $32,926 — total, $42,617. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $360,000; funded debt (1st 5s and 6s of April 1, 1917), $216,000; current liabilities, $349,924; profit and loss, $42,617 — total, $968,541. Contra : Cost of road and equipment, $872,658 ; materials, etc., $76,228 ; cash and current assets, $19,655 — total, $968,541. Directors. — W. W. Van Arsdale, Geo. W. Scott, Geo. M. Curtis, Walter Alexander, F. P. Hixon, San Francisco, Cal. OFFICERS : GEO. W. SCOTT, Pres. ; W. W. Van Arsdale, Vice-Pres. ; J. R. Wisdom, Mgr.; H. Cooley, Supt.; F. C. Youngberg, Sec.; Crocker- Woolworth National Bank, Treas., San Francisco, Cal. GENERAL OFFICE, 93 Crocker Building, San Francisco, Cal. MABICOPA AND PHCENIX AND SALT BIVEB VALLEY BB.— Maricopa to Phoe- nix, Ariz., 34.36 m. ; Tempo to Mesa, Ariz., 7.56 m. — total, 41.92 m. ; total track (steel; 40 and 66 J>OOR*S MANUAL OF RAILROADS. Ibs.), 44.12 miles. Gauge, 4 ft. 8} in. Consolidation, Dec. 9, 1895, of the Marlcopa and Phcenix RR. Co. and the Phoenix, Tempo and Mesa Ry. Co. (see MANUAL for 1895, page 297). The road from Tempo to Mesa was opened Dec. 9, 1895. Locomotives, 4. Cars — passenger, 2 ; baggage, mail, etc., 2; freight (box, 9; flat, 10), 19 — total, 23. Also 45 stock cars leased. Operations, year ending June 30, 1902. — Earnings (passenger, $56,791; freight, $101,395), $158,186. Operating expenses, $112,228. Net earnings, $45,958. Payments: Interest on bonds, $36,300 ; taxes, $5,637 — total, $41,937. Surplus, $4,021. Financial Statement, June 30, 1902. — Capital stock ($100 shares), $1,000,000; funded debt (1st 5s of Dec. 23, 1925), $725,000 — total, representing cost of road, etc., $1,725,000. Directors. — Francis Cutting, F. I. Kendall, Joseph M. Masten, M. Silvester, C. E. Graham, San Francisco, Cal. ; S. Oberfelder, Walter Talbot, Phoenix, Ariz. OFFICERS : FRANCIS CUTTING, Pres.; Joseph M. Masten, Vice-Pres.; F. I. Kendall, Sec. & Treas., San Francisco, Cal.; J. W. Walden, And., Phcenix, Ariz. GENERAL OFFICE, Phoenix, Ariz. MILL VALLEY AND MT. TAMALPAIS SCENIC BY. — Mill Valley to summit of Mt. Tamalpais, Cal., 8.19 miles. Rail (steel), 57 Ibs. Gauge, 4 ft. 8* in. Chartered Jan. 16, 1896 ; road opened Aug. 26, 1896. The object of this road is to enable excursionists to reach the summit of Mt. Tamalpais. Locomotives (geared), 3. Cars — passenger, 8; freight (flat), 2 — total, 10. Operations, year ending June 30, 1902. — Earnings (passenger, $37,234; freight, $41), $37,- 275. Operating expenses, $26,854. Net earnings, $10,421 ; other receipts, $4,322 — total, $14,743. Payments : Interest on bonds, $5,024 ; taxes, $898 — total, $5,922. Surplus, $8,821 ; surplus forward, $10,890— total, $19,711. General Balance Sheet, June 30, 1902. — Capital stock ($200,000 auth. ; $100 shares), $122,000; funded debt (1st 5s of April 20, 1929), $100,000; current liabilities, $3,697; profit and loss, $19,711 — total, $245,408. Contra : Cost of road and equipment, $174,464 ; permanent invest- ments, $49,055 ; real estate, $9,364 ; materials, etc., $3,222 ; taxes and insurance, $207 ; cash and current assets, $3,096 ; sinking fund, $6,000 — total, $245,408. Directors (elected Jan. 15, 1903). — S. B. Gushing, San Rafael, Cal. ; R. H. Wai-field, Daniel E. Hayes, Charles F. Runyon, Harry F. Woods, W. C. B. de Fremery, C. de Guigne, San Francisco, Cal. OFFICERS : S. B. GUSHING, Pres. & Gen, Mgr., San Rafael, Cal. ; R. H. Warfleld, Vice-Pres. ; First National Bank of San Francisco, Treas., San Francisco, Gal. ; Louis L. Janes, Sec., Mill Valley, Cal. GENERAL OFFICE, 508 California St., San Francisco, Cal. NATCHES PASS BB. — Projected : Buckley, Wash., to Columbia River, 110 miles. Com- pleted up to June 30, 1901: Buckley, Wash., east, 4.75 miles. Gauge, 4 ft. 8J in. Rail (steel), 56 Ibs. Chartered July 16, 1896, and succeeded to the property, rights, and franchises of the White and Columbia Rivers RR. Co., which was chartered in May, 1893, but completed no railroad. Four miles of road were completed in Aug., 1896 ; extended 0.75 mile in Jan., 1899. The road is being built chiefly for logging purposes, but it is also intended to reach the wheat fields of Eastern Washington and the Gold Hill mining district near the summit of the Cascade Mountains (see MANUAL for 1897, page 844). Locomotives, 2. Cars (flat), 3. The Northern Pacific Ry. Co. furnishes the cars, about 300 per month — 41-foot flat cars built for logging purposes. No state- ment of earnings furnished. Financial Statement, June 30, 1902. — Capital stock ($100 shares), $15,000 ; funded debt (1st gold 6s of Dec. 1, 1908), $25,000 — total, representing cost of road, $40,000. Directors. — Addison G. Foster, Angus McDougall, 'Herbert S. Griggs, Geo. Browne, Tacoma, Wash. OFFICERS: ANGUS MCDOUGALL, Pres.; Addison G. Foster, Vice-Pres. ; Geo. Browne, Sec. & Treas., Tacoma, Wash. ; A. Jackson, Gen. Mgr., Buckley, Wash. GENERAL OFFICE, Tacoma, Wash. NATIONAL CITY AND OTAY BB. — San Diego to Tia Juana, Cal., 18.7 m. ; Sweet- water June, to La Presa, Cal., 8.2 m. — total, 26.9 m. ; total track (steel ; 30 and 40 Ibs.), 30.9 miles. Gauge, 4 ft. 8J in. Consolidation, Oct. 12, 1888, of the National City and Otay and the Otay Ry. Co». Road opened throughout on May 20, 1888. Locomotives, 5. Cars — passenger, 7 ; baggage, etc., 3; freight (flat, 15; box, 16; coal, 3), 34 — total, 44. Operations, year ending June 30, 1902. — Trains run (passenger, 40,459; freight, 25,609; mixed, 5,148), 71,216 miles. Passengers carried, 106,562. Tons freight moved, 15,516. Earnings (passenger, $15,092; freight, $15,052; other, $1,072), $31,216; other receipts, $167 — total, $31,383. Operating expenses, $35,366 ; taxes, $1,185 — total, $36,551. Deficit, $5,168. General Balance Sheet, June 30, 1902. — Capital stock ($1,300,000 auth.; $100 shares), $700,000; funded debt (1st gold 6s of Dec. 1, 1933), $451,000; current liabilities, $9,554 — total, $1,160,554. Contra: Cost of road and equipment, $1,140,500; materials, etc., $11,436; cash and current assets, $4,176 ; profit and loss, $4,442 — total, $1,160,554. Directors. — B. P. Cheney, Charles D. Lanning, Walter L. Frost, Boston, Mass. ; John E. Boal, H. N. Savage, E. A. Hornbeck, National City, Cal. ; R. C. Allen, Bonita, Cal. OFFICERS : B. P. CHENEY, Pres., Boston, Mass. ; John E. Boal, Vice-Pres., National City, Cal. ; Charles D. Lanning, Treas. & Asst. Sec., Boston, Mass. ; E. A. Hornbeck, Sec. & Asst. Treas., National City, Cal. GEN- ERAL OFFICE, 95 Milk St., Boston, Mass. Operating Office, National City, Cal. NEVADA-CALIFOBNIA-OBEOON BY. — Projected: Reno, Nov., northerly through California to eastward of Goose Lake, thence into Oregon, 220 miles. Completed up to June 30, 1902 : Reno, Nev., to Madeline, Cal., 143.84 m. — total track, 150.38 miles. Gauge, 3 ft. Rail (steel, 123.84 m. ), 40 Ibs. Formerly a private road owned by Moran Bros., New York, N. Y., but on Jan. 1, 1893, purchased by the present company, organized March 31, 1888. (See MANUAL for 1894, page 267.) Road opened, Reno, Nev., to Amedee, Cal., 79 m., on Nov. 17, 1890; to Termo, 50.57 m., July 1, 1900, and to Madeline, 14.27 m., April 1, 1902. Locomotives, 6. Cars — passenger, 4 ; combination, 1; baggage, etc., 5; freight (box, 13; flat, 37; stock, 25; water, 1), 76; service, 19 — total, 105. Operations, year ending June 30, 1902. — Trains run (passenger, 540; freight, 8,878; mixed, 89,165; other, 8,440), 107,023 miles. Passengers carried, 11,551; carried one mile, 743,800. Tons freight moved, 40,334; ton-miles, 2,565,949. Earnings (passenger, $33,023; freight, $108,- 643; other, $16,991), $158,657. Operating expenses, $103,579. Net earnings, $55,078; other receipts, $737 — total, $55,815. Payments : Interest on bonds, $24,961 ; taxes, $5,221 — total, $30,182. Surplus, $25,633 ; surplus forward, $44,230 — total, $69,863. General Balance Sheet, June 30, 1902. — Capital stock ($1,450,000 common and $750,000 preferred ; $100 shares), $2,200,000; funded debt (1st gold 5s of May 1, 1919), $487,000 ; bills pay- able and loans, $235,887 ; current liabilities, $22,320 ; Interest accrued, $3,750 ; profit and loss, G?4 POOR'S MANUAL OF RAILROADS — PACIFIC GROUP. $69,863 — total, $3.018,820. Contra : Cost of road and equipment, $2,786,508 ; securities owned, $37,700; materials, etc., $14,291; cash and current assets, $180,321 — total, $3,018,820. ' Directors. — D. Comyn Moran, Amedee D. Moran, New York, N. Y. ; T. F. Dunaway, Robert L. Fulton, A. H. Manning, Reno, Nev. OFFICERS : D. COMYN MORAN, Pres., New York, N. Y. ; T F. Dunaway, Vice-Pres. & Mgr,, Reno, Nev. ; Amedee D. Moran, Treas., New York, N. Y. ; Frank R. Lewis, Sec. & Aud., Reno, Nev. GENERAL OFFICE; Reno, Nev. NEVADA CENTRAL BB. — Battle Mountain. Nev.. to Austin, Nev., 93.3 m. ; total track (iron; 35 IDS.), 95.3 miles. Gauge, 3 ft. Reorganization of Nevada Central Ry., chartered Aug. 27, 1879. ( See MANUAL for 1893, page 392. ) Locomotives, 3. Cars — passenger, 3 ; freight ( box, 12; stock, 15; flat, 15; coal, 7), 49; other, 2 — total, 54. Operations, year ending June 30, 1902. — Trains run (passenger, 492; freight, 186; mixed, 29,203; other, 256), 30,137 miles. Passengers carried, 2,437; carried one mile, 136,096. Tons freight moved 4,174 ; ton-miles, 349,250. Earnings (passenger, $13,023 ; freight, $25,061 ; other, S396), $38,480. Operating expenses, $34,458. Net earnings, $4,022. Paid taxes, $2,788. Surplus, $1,234 ; surplus forward, $4,671— total, $5,905. General Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $750,000; funded debt (1st gold 5s of July 2, 1938), $750,000; profit and loss, $5,905 — total, $1,505,905. Contra: Cost of road and equipment, $1,500,000 ; materials, etc., $176 ; cash and current assets, $5,729 — total, $1,505,905. Directors. — John Sherman Hoyt, J. G. Phelps Stokes, Jas. W. McCulloch, I. N. Phelps Stokes. New York, N. Y. ; S. T. Pearson, J. M. Hiskey, P. R. Terwilliger, Austin, Nev. OFFICERS : J. Q. PHELPS STOKES, Pres. ; John Sherman Hoyt, Vice-Pres., New York, N. Y. ; S. T. Pearson, Treas. tt Gen. Mgr.; J. M. Hiskey, Sec. & Aud., Austin, Nev. GENERAL OFFICE, Austin, Nev. NEVADA COUNTY NABBOW GAUGE BB.— Colfax to Nevada City, Cal., 22.5 m. ; total track (steel, 20.5 m.), 27.5 miles. Gauge, 3 ft. Rail, 35 Ibs. Chartered April 4, 1874; road opened as above May 24, 1876. Locomotives, 5. Cars — passenger, 3 ; baggage, etc., 3 ; freight (box, 22; stock, 4; flat, 36; oil tanks, 2), 64 — total, 70. Operations* year ending June 30, 1902. — Trains run (passenger, 12,887; mixed, 58,653; other, 3,452), 74,992 miles. Passengers carried, 59,943; carried one mile, 720,658. Tons freight moved, 22,638; ton-miles, 450,951. Earnings (passenger, $42,676; freight, $65,642; other, $6,193), $114,511. Operating expenses, $74,453. Net earnings, $40,058. Payments: Interest on bonds, $16,800 ; on floating debt, $1,746 ; taxes, $3,638 ; other charges, $5,423 — total, $27,607. Surplus, $12,451 ; surplus forward, $191,093 — total, $203,544. General Balance Sheet, June 30, 1902. — Capital stock ($400,000 auth. ; $100 shares), $250,200 ; funded debt, $238,000 ; current liabilities, $21,065 ; profit and loss, $203,544 — total, $712,809. Contra : Cost of road and equipment, $671,597 ; materials, etc., $16,320 ; cash and current assets, $24,680 ; other assets, $212 — total, $712,809. Funded Debt consists of ($250,000 auth.) 1st mtge. 7 p. c. bonds, interest payable Jan. and July by the trustee, Wells, Fargo & Co. Bank, San Francisco, Cal. The bonds are payable in yearly installments increasing from $4,000 in 1902 to $20,000 in 1924, when the last of them will be re- tired. The amount outstanding on Aug. 15, 1902, was $238,000. Directors. — Mrs. S. A. Kidder, Peter Johnston Samuel Granger, John Glasson, C. P. Lough- ridge, J. H. Coughlin, F. G. Beatty, Grass Valley, Cal. OFFICERS : MRS. S. A. KIDDER, Pres.; Peter Johnston, Vice-Pres.; F. G. Beatty, Sec.; John Glasson, Treas.; C. P. Loughridge, Gen. Mgr., Grass Valley, Cal. GENERAL OFFICE, Grass Valley, Cal. OBEGON AND SOT7THEASTEBN BB. — In operation July 29, 1903 : Cottage Grove to Red Bridge, Ore., 17 m. ; branches, 2 m. — total, 19 miles. Gauge, 4 ft. 8i in. Rail (steel), 56 Ibs. Locomotives, 2 ; passenger car, 1 ; freight cars, 16. Incorporated under the laws of New Jersey, April 19, 1902, to build a railroad from Cottage Grove, Ore., to the Bohemia Mining District, with branches to lumber camps, a total of 38.5 miles. The road was completed as above in July, 1903. Built in connection with mining and lumber manufacturing interests with which the company is closely identified. Financial Statement, July 29, 1903. — Capital stock paid in ($1,000,000 auth.; $100 shares), $800,000. The authorized capital stock consists of $500,000 common stock and .$500,000 cumulative 7 p. c. preferred stock. The preferred stock is subject to redemption at par and accumulated dividends at any time after three years from date of issue. Funded debt : $250,000 ($300,000 auth.) 1st trust gold 5s, dated April 2, 1902, due April 1, 1922, interest April and Oct. at the office of the trustee, the North American Trust Co., New York, N. Y. Directors. — George W. Crosby, Atlantic City, N. J. ; Albert Hawkins, North Adams, Mass. ; G. B. Hengen, New York, N. Y. ; John H. Pearsons, Cottage Grove, Ore. ; K. K. McLaren, Jersey City, N. J. OFFICERS : GEORGE W. CROSBY, Pres., Atlantic City, N. J. ; Albert Hawkins, Vice-Pres., North Adams, Mass. ; G. B. Hengen, Sec. & Treas., New York, N. Y. ; John H. Pearsons, Gen. Mgr.; A. B. Wood, Chief Eng., Cottage Grove, Ore. PRINCIPAL OFFICE, 1135 Broadway, New York, N. Y. PACIFIC AND IDAHO NOBTHEBN BY.— Weiser to Council, Id., 60.03 miles. Ex- tension under construction from Council to Landore, about 45 miles. Gauge, 4 ft. 8i in. Rail (steel), 65 Ibs. Locomotives, 2. Cars, 35. Operations, year ending June 30, 1901 (latest reported). — Earnings (passenger, $19,697; freight, $26,874; other, $165), $46,736. Operating expenses, $32,027. Net earnings, $14,709. Payments : Interest on bonds, $35,256 ; taxes, $4,200 ; other charges, $10,250 — total, $49,706. Deficit for year, $34,997. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock ($100 shares), $1,574,600; funded debt (details not reported), $1,020,000; current liabilities, $76,792; interest accrued, $8,500; other liabilities, $10,250 — total, $2,690,142. Contra: Cost of road and equip- ment, $2,595,205 ; cash and current assets, $25,899 ; materials, etc., $6,455 ; sinking fund, $6,800 ; profit and loss, $55,783 — total, $2,690,142. Directors. — Not reported. OFFICERS : LEWIS A. HALL, Pres., New York, N. Y. ; P. P. Shelby, Vice-Pres. & Gen. Mgr., Weiser, Id.; George Pope, Sec.; H. B. Pierce, Treas., New York, N. Y. ; A. Hermany, Aud., Weiser, Id. GENERAL OFFICE, Weiser, Id. New York Office, 52 Broadway, Man- hattan. PACIFIC LTJMBEB CO.'S BB. — Alton, Cal., to end of track, 17 miles. Chartered and road opened, Feb. 26, 1869. Used for the business of the Pacific Lumber Co. Locomotives, 3. Cars — passenger, 3; baggage, etc., 1; freight (box, 6; flat, 37; timber, 118), 161 — total cars, 165. POOR'S MANUAL OF RAILROADS. 675 Operations, year ending June 30, 1902 (7.90 miles). — Earnings (passenger, $5,548; freight, $2,934), $8,482. Operating expenses, $6,732. Net earnings, $1,750. General Balance Sheet, June 30, 1901 (latest rendered). — Capital stock, $700,000; funded debt (1st 6s of 1903), $500,000 ; bills payable, $130,000 ; other accounts, $53,000 ; profit and loss, $346000 — total, $1,729,000. Contra: Cost of road, $275,000; equipment, $80,000; real estate and buildings, $1,000,000 ; other assets, $374,000— total, $1,729,000. Directors. — Hiram C. Smith, B. S. Pillsbury, H. D. Pillsbury, R. P. Morrow, L. L. Long, San Francisco, Cal. OFFICERS: HIRAM C. SMITH, Pres.; E. S. Pillsbury, Vice-Pres.; L. L. Long, Sec., San Francisco, Cal. GENERAL OFFICE, 308 Rialto Bldg., San Francisco, Cal. PAJARO VALLEY CONSOLIDATED RR. — Watsonville to Spreckels, Cal., 27.2 m. ; Spreckels Junction to Alisal, Cal., 5.7 m. ; total track (steel; 45 Ibs.), 32.9 miles. Gauge, 3 ft. Organized as Pajaro Valley RR. Co., Dec. 31, 1890 ; road opened from Watsonville to Salinas, 23.7 m in 1895 • extension to Spreckels built and name of company changed in 1898. Locomotives, 7. Cars — passenger, 1; freight (box, 26; flat, 15; beet, 140; dump, 100), 281 — total, 282. Operations, year ending June 30, 1902. — Earnings (passenger, $1,613; freight, $96,546; other, $622), $98,781. Operating expenses, $66,006. Net earnings, $32,775. Payments: Taxes, $3,347 ; other charges, $1,042 — total, $4,389. Surplus, $28,386 ; surplus forward, $105,983 — total, $134,369. General Balance Sheet, June 30, 1902. — Capital stock ($1,100,000 auth. ; $100 shares), $360,000 ; other liabilities, $20,000 ; profit and loss, $134,369 — total, $514,369. Contra : Cost of road, $336,611; equipment, $149,119; cash and current assets, $28,639 — total, $514,369. Directors (elected Jan. 26, 1903). — John D. Spreckels, A. B. Spreckels, Wm. Alvord, A. F. Morrison, W. H. Hannam, San Francisco, Cal. OFFICERS: JOHN D. SPRECKELS, Pres.; A. B. Spreckels, Vice-Pres. & Treas.; W. H. Hannam, Sec., San Francisco, Cal. GENERAL OFFICE, 327 Market St., San Francisco, Cal. POUT ANGELES PACIFIC RR. — Completed to July 15, 1903: Port Angeles to Dry Creek, Cal., 6 miles. Gauge, 4 ft. 8J in. Rail (steel), 56 Ibs. Locomotives, 1; cars, 20. The road is being built under contract by the Smith-Mastick Construction Co., the contractors receiv- ing the contract price in stock and bonds of the company, which are deliverable upon the com- pletion of each 5-mile section. It is intended to connect Port Angeles with some point between there and Gray's Harbor, and to connect ultimately with some through line. Capital stock paid in ($2,500,000 auth.; $100 shares), $310,500. Bonds are authorized to the amount of $20,000 per mile, but none have yet been issued. Cost of road to date, $80,000. Estimated cost of road to completion, $2,000,000. Directors. — Norman R. Smith, J. W. S. Clarke, James Stewart, C. B. Mastick, Port Angeles, Cal.; H. G. Horstman, Cincinnati, O. OFFICERS: NORMAN R. SMITH, Pres.; J. W. S. Clarke, Vice-Pres., Port Angeles, Cal. ; H. G. Horstman, Sec. & Treas., Cincinnati, O. ; Wm. Kartell, Supt., Port Angeles, Cal. GENERAL OFFICE, Port Angeles, Cal. RANDSBURG RR,— Kramer to Johannesburg, Cal., 30 m. ; trackage, A., T. & S. F. RR. Barstow to Kramer, Cal., 33 m. — total operated, 63 miles. Gauge, 4 ft. 8£ in. Rail (steel), 56 Ibs. Chartered May 22, 1897; road opened Jan. 17, 1898. Locomotives, 2. Car (passenger), 1. Operations, year ending June 30, 1902. — Earnings ( passenger, $13,1'83 ; freight, $37,738), $50,921. Operating expenses, $23,235. Net earnings, $27,686 ; total deductions, $17,558 ; surplus for year, $10,128. Financial Statement, June 30, 1900 (latest rendered). — Capital stock ($100 shares), $540,- 000; funded debt (1st mtge. 6s of July 1, 1917), $300,000 — total, representing cost of road, S840.000. Directors. — E. Van Etten, New York, N. Y. ; J. N. Beckley, Rochester, N. Y. ; C. M. Warner, Syracuse, N. Y. ; J. M. Burnett, C. E. Crowley, Phosnix, Ariz. ; E. H. Stagg, Johannesburg, Cal. ; Chas. Wier, Jno. Singleton, Walter Rose, Los Angeles, Cal. OFFICERS : E. VAN ETTEN, Pres., New York, N. Y. ; E. H. Stagg, Vice-Pres. & Gen. Mgr., Johannesburg, Cal. ; Jno. Singleton, Sec., Los Angeles, Cal. ; C. M. Warner, Treas., Syracuse, N. Y. GENERAL OFFICE, Johannesburg, Cal. ROGUE RIVER VALLEY RY. — Medford to Jacksonville, Ore., 6 m. ; total track (steel, 6 m. ; 26 Ibs.), 6.25 miles. Gauge, 4 ft 8J in. Chartered Feb. 4, 1891 ; road opened Feb. 12, 1891. Locomotives, 2. Cars— passenger, 1; baggage, etc., 1 ; freight (box, 1; flat, 1), 2; other, 2 — total, 6. Capital stock ($100 shares), $200,000. Cost of property, $61,000. Operations, year ending June 30, 1902. — Trains run (mixed), 9,201 miles; passengers carried, 14,651; tons freight moved, 6,912; earnings (passenger, $3,653; freight, $2,909; other, $554), $7,116 ; operating expenses, $1,376 ; net earnings, $5,740. Directors. — W. S. Barnum, John C. Barnum, W. H. Barnum, Jacksonville, Ore. OFFICERS : W. S. BARNUM, Pres.; W. H. Barnum, Vice-Pres. & Treas.; John C. Barnum, Sec., Jacksonville, Ore. GENERAL OFFICE, Jacksonville, Ore. 1 SALEM, FALLS CITY AND WESTERN RY.— Projected : Salem, Ore., to Pacific Ocean, 65 miles. Completed to July 23, 1903 : Dallas to Falls City, Ore., 9.5 miles. Gauge, 4 ft. 8| in. Rail (steel, 1.5 m.), 56 Ibs. Locomotive, 1; combination car, 1; freight cars, 7; other cars, 6. Chartered Oct. 22, 1901 ; road completed to Falls City in July, 1903. Used mainly as a lumber road. Financial Statement, July 23, 1903. — Capital stock ($100 shares, full paid), $100,000. Funded debt, $90,000 ($10,000 per mile auth.), 1st mtge. 5 p. c. 20-yr. gold bonds, due May 1, 1923, interest May and Nov., at the office of the trustee, the Security Savings and Trust Co., Portland, Ore. Directors. — L. Gerlinger, George T. Gerlinger, Portland, Ore.; L. Gerlinger, Jr., Dallas, Ore. OFFICERS : L. GERLINGER, Pres., Portland, Ore. ; L. Gerlinger, Jr., Vice-Pres., Supt. & Purch. Agt., Dallas, Ore. ; George T. Gerlinger, Sec. nds. .$500,000 00 Interest on $2,000,000 4 p. c. bonds. 80,000 00 Elmira, Cortland and Northern RR. . 17,500 00 Interest on $750,000 6 p. c. bonds 45,000 00 Interest on $1,250,000 5 p. c. bonds... 62,500 00 . 300,000 00 Canastota Northern RR. Interest on $300,000 6 p. c. bonds... 18,000 00 Lock. . 117,500 00 Middlesex Valley RR. . 41,000 00 Interest on $375,000 5 p. c. bonds . 18,750 00 . 30,000 00 Rochester Southern RR. Co. Interest on $425,000 5 p. c. bonds 21,250 00 . 2,295 00 Depew and Tonawanda RR. rental... 30,000 00 Hazleton Coal Co. ds... . 100,000 00 Interest on $1,922,000 5 p. c. bonds... 96,100 00 ds... . 105,000 00 Guaranteed Interest ($859,966.66). ds. .. . 200,000 00 >nds. . 67,500 00 Lehigh Valley Coal Co. ds... . 120,000 00 Interest on $11,514,000 5 p. c. bonds.. . $575,700 00 ntal. 600 00 Interest on $5,000,000 5 p. c. bonds... . 229,166 66 • Delano Land Co. nds.. . 675,000 00 Interest on $1,102,000 5 p. c. bonds... 55.100 00 16,514,000 00 1,102,000 00 INTEREST. $2,285.500 00 245,543 62 2,647,995 00 $5,179,038 62 804,866 66 $5,983,905 28 55,100 00 Total Interest and rentals charged to income account Delano Land Company (Interest paid by Lehigh Valley Coal Co.) Total principal of funded debt, equipment trusts, and guaranties. $118,803, 000 00 The Lehigh Valley RR. Co. owns all the bonds of the Greenville and Hudson Ry. Co., Morris Canal and Banking Co., Schuylkill and Lehigh Valley RR. Co., Rochester Southern RR. Co., and Hazleton Coal Co., besides owning $271,400 of the preferred stock and $318,300 of the consolidated stock of the Morris Canal and Banking Co., $164,000 of the bonds of the Middlesex Valley RR. Co., and $6,140,000 of the bonds of the Lehigh Valley Coal Co. Total owned by Lehigh Valley RR. Co., $12,350,700 ; annual charge thereon, $632,922. The latter amount is Included in the Income Account under the head of dividends and interest on stocks and bonds owned, while the rentals of the Waverly and State Line RR. and Depew and Tonawanda RR. are included in the same statement under the head of " sundry receipts." The Lehigh Valley RR. Co. does not guarantee the $300,000 1st mtge. 6 p. c. bonds of the Canastota Northern RR. Co., nor $750,000 1st preferred mortgage 6 p. c. bonds of the Elmira, Cort- land and Northern RR. Co., but they are both included In the preceding statement, because they are mortgage liens on property which is a part of the Lehigh Valley system by ownership of capital stock. The details of the guaranties are in the statements for the subsidiary companies in Sec- tions 24-27. POOR .S MANUAL — LEHTGH VALLEY RR. CO. 683 13. Statement showing the results from the operation of the system for two years ending June 30: 1901 1902 1901 1902 Mile? Road Operated 1,386.04 4,304,354 7,775,009 1,387.24 4,288,124 7,323,684 Net Earnings $ 4,814,542 1,081,371 S 4,620,136 1,079,367 Passenger Train Mileage. . . Other Receipts Total Rev. Mileage Passengers Carried Passengers Carried 1 Mile. . Tons Freight Moved Net Income 12,079,453 4,456,732 160,953,677 18,511,063 3,606,697,936 $ 2,989,004 9,272,317 9,636,802 1,584,443 11,611,808 4,308,497 208,561,926 18,174,886 3,418,884,789 $ 3,664,820 9,627,286 9,328,959 1,651,189 5,895,913 622,806 190,574 260,817 5,699,503 615,467 72,658 277,953 82,296 5,983,905 Taxes Loss on Water Lines. . General Interest Surplus Controlled Cos. . . . Tons Moved One Mile Earnings — Passenger Freight.. Fixed Charges 5,920,029 Total Deductions 6,994,226 1,098,313 16,942.20 13,468.60 3,473.60 79.50 p. c. 1.857c. 0.524c. 7,032,279 1,332,776 17,496.80 14,166.34 3,330.46 80.97 p. c. 1.757c. 0.554c. Balance, Deficit Coal. . . . Gross Earnings per Mile. . . Operating Exp. per Mile. . . Net Earn ngs jjer Mile Expenses to Earnings .... Earn, per Pass, p r Mile.. . . Earn, per Ton per Mile .... Other Gross Earnings 23,482,566 18,668,024 24,272,254 19,652,118 Operating Expense* Net Earnings 4,814,542 4,620,136 A statement showing the results from the operation of the system for the seven fiscal years ending Nov. 30, 1895-1901, is in the MANUAL for 1902, on page 109. 14. Income Account, for 7 months ending June 30, 1902. — Gross earnings, $12,- «40,455.82. Operating expenses and taxes, $11,508,714.27. Net earnings, $1,131,741.55: ether income, $545,734.58 — total, $1,677,476.13. Deductions: Net loss of water lines, $05,800.08 ; interest payable and surplus earnings due to controlled companies, $223,- 591.70; proportion of fixed charges, including Lehigh VTalley Coal Co. guaranty, $3,478,- 799— total, $3,798,190.78. Deficit, $2,120,714.65; deficit to Nov. 30, 1901, $1,257,224.26; sundry charges and adjustments, $5,743.13— total, $3,383,682.04. Credit: Interest on Coal Ridge Improvement and Coal Co., $11,535. Net deficit, June 30, 1902, $3,372,147.04. 15. General Balance Sheet, June 30, 1902. Cost of Road $18,639,291 95 Equipment 19,018,419 98 Equipment Trusts ($4,934,000) : Equipment Trust, Series C 1,400,00000 Equipment Trust, Series D 2,400,00000 Equipment Trust, Series E 574,00000 Equipment Trust, Series F 560,00000 Real Estate 1,221,856 46 Mortgages Receivable 650,12837 Securities Owned (see Sec. 20)...... 39,300,209 80 Advances to Other Cos. in System. . 6,533,742 44 Advanced Insurance Premiums 82,10174 Current Assets ($5,585,998.73) : Cash on Hand 2,780,622 14 Due by Station Agents 1,178,91491 Individuals and Companies 697,64237 Traffic Balances 286,37274 Advances 642,446 57 Material and Supplies 1,967,607 05 Profit and Loss 3,372,14704 Total Assets .$101,305,503 56 Capital Stock ($50 shares) $40,441,10000 Funded Debt Outstanding 41,900,00000 Equipment Trust Obligations 5,559,00000 National Storage Co. Trust Certs.. Coal Property Purchase Bonds 5,000,000 00 1,170,000 00 Depreciation of Equip. ($667,036 68) Equipment Renewal Reserve 555,73748 Depreciation of Marine Equipment 111,299 20 Mortgages on Real Estate 211,99389 Interest and Rentals Accrued, not Due : Interest on Funded Debt 328,37500 Interest on Equipment Trusts 70,07500 Accrued Rentals, Leased Lines 403,71578 Accrued Principal, Equip. Trusts.. 164,166 66 Interest on Trust Certificates.... 50,00000 Interest on Coal Prop. Pur. Bonds 9,700 00 Current Liabilities 4,911,315 14 Deferred Liabilities 419,02541 Total Liabilities $101,305,503 56 16. Capital Stock. — The capital stock as per general balance sheet consists of $106,300 of 10 p. c. preferred stock and $40,334,800 of common stock, In shares of $50 each. The last dividends were paid in July, 1893. 17. Funded Debt — The funded debt outstanding on June 30, 1902 — total $41,900,000, as per general balance sheet — consisted of the following issues of bonds : $2»,OOO,000 consol. mtge. bonds, $15,700,000 of them being 8 p. c. bonds and the remaining $7,300,000 4j p. c. bonds ; $10,062,000 of the 6 p. c. bonds and $2,538,000 of the 4i p. c. bonds are designated " annuity bonds " and are irredeem- able ; the remaining $5,638,000 of 6 p. c. bonds and the remaining $4,762,000 of 4J p. c. bonds are payable on Dec. 1, 1923. The authorized issue 95,OOO,OOO 1st gold 4s of June 1, 1948. Secured on the main line, 322.44 miles, and equipment. The bonds matured in 1898, and were extended, principal and Interest being made payable in gold. $6,000,000 2d 7s of Sept. 1, 1910. Secured on the same property, but subject to the lien of the first mortgage. 684 POOR'S MANUAL — RETTJRNS RECEIVED TOO LATE FOR CLASSIFICATION. is $40,000,000, and $12,000,000 of the unissued bonds are reserved for retirement of the 1st and 2<1 mtge. bonds, at maturity. The bonds are in two classes, those due in 1923 being known as Class Ii, and the irredeemable " annuity " bonds as Class C. Of Class B, $1,319.000 6s and $l.t>69,000 4Js are coupon bonds, while $4,319,000 6s and $3,093,000 4Js are in registered form. The bonds are secured on the main line and branches, 322.44 miles, subject to prior liens. $7,OOO,OOO mtge. and trust gold 5s of May 1, 1997. Secured on the railroad and equipment of the company (subject to prior liens) ; on various real estate mortgages held by the company ; on various pieces of real estate owned by the company in Philadelphia, Pottsville, and Jersey City ; on sundry stocks of various companies owning railroad (about 170 miles) and steamship lines belonging to the Lehigh Valley System, and on the car trust bonds of the Lehigh Valley Terminal Ry. Co. owned by this company. (See statement of stocks and bonds owned, Sec. 20.) The authorized issue is $15,000,000, of which $7,- 000,000 may be issued at not exceeding the rate of $1,000,000 in any calendar year commencing with the year 1900, for the construction or acqui- sition of extensions, terminals, rolling stock, or betterments, or for the acquisition of additional bonds of the Lefiigh Valley Coal Co. secured by its mortgage dated April 30, 1897 — all of such acquisitions to be subjected to the lien of the j mortgage. The $7,000,000 of reserved bonds may bear interest at a rate lebs than 5 p. c. per annum. The bonds are redeemable on any in- terest day, at 1071 P- c. and accrued interest, on 00 days' notice. The mortgages do not cover the income of the company, and none of them except the collateral trust mortgage cover any of the securities owned by the company. Bonds with liens prior to that of the mortgage and collateral trust bonds may be extended, or new prior lien bonds may be issued, but the aggregate principal sum of such bonds, or the rate of interest thereon, may not be increased except as provided in the consolidated mortgage for the retirement of bonds prior in lien thereto. 18. Equipment Trust Obligations. — These consist of the following issues : $400,000 5 p. c. Series A car trust, payable $50,000 semi-annually to Feb. 1, 1906, interest Feb. and Aug. ; $225,000 5 p. c. Series B car trust, payable $25,000 semi-annually to Aug. 1, 1906, interest Feb. and Aug. ; $1,400,000 4J p. c. Series C equipment trust, payable $200,000 annually to June 1, 1909, interest June and Dec. ; $2,400,000 41 p. c. Series D equipment trust, payable $300,000 annually to March 1, 1910, interest March and Sept. ; $574,000 41 p. c. Series E equipment trust, payable $82,000 annually to Feb. 1, 1909, interest Feb. and Aug. ; $560,000 41 p. c. Series F equipment trust, payable $80,000 annually to May 1, 1909, interest May and Nov. ; and $605,000 Lehigh Valley Transportation Co. 5 p. c. mtge. bonds, payable $120,000 annually to May 1, 1907, interest May and Nov. Series A and Series B are in gold bonds of $1,000 each ; Series C, D, E and F are in $1,000 gold certificates. Series A covers 2,000 box freight cars ; Series B, 1,000 coal cars, 50 stock cars, and 6 combination cars ; Series C, 34 locomotives, 2,000 coal and 400 box freight cars ; Series D, 25 locomotives and 3,665 freight cars ( 2,725 box, 250 gondola, 300 coal, 300 produce, 15 milk, 25 poultry, and 50 steel flats) ; Series E, 42 locomotives and 20 cars (11 passenger, 3 combina- tion and 6 baggage) ; Series F, 40 locomotives. The maritime mortgage bonds cover the steamers Wilkes-Barre and Mauch Chunk and 33 barges. Interest on the serial obligations is payable at the offices of the respective trustees as follows : Series A and Series B, the Girard Trust Co., Phila- delphia, Pa. ; Series C, Series E and Series F, the Pennsylvania Co. for Insurances on Lives and Granting Annuities, Philadelphia, Pa. ; Series D, Provident Life and Trust Co., Philadelphia, Pa. Interest on the maritime mortgage bonds (E. T. Stotesbury, trustee) is payable at the office of the Lehigh Valley RR. Co., 228 South Third St., Philadelphia, Pa. 19. Statement of property and capital accounts for seven fiscal periods: 1896 Nov. 30 1897 Nov. 30 1898 Nov. 30 1899 Nov. 30 1900 Nov. 30 1901 Nov. 30 1902 June 30 Miles Road Operate.. Creek Ry. Cos. (See Manual for 1898, page 78.) Controlled by the L. V. RR. Co. by ownership of the entire capital stock, but operated separately by its own organization. BALANCE SHEET, June 30, 1902. — Capital stock paid in (31,000.000 auth. ; $100 shares), $3,- 854,000; current liabilities, $10,407; profit and loss, $185,126 — total, $4,049,533. Contra : Cost of prop- erty, $3,949,598 ; cash and current assets, $99,935 — total, $4,049,533. CORPORATE OFFICERS. — E. B. Thomas, Pres., New York, N. Y. ; Isaac McQuilkin, Compt, Philadelphia, Pa., J. A. Hand, Sec. & Treas., New York, N. Y. Office, New York, N. Y. NEWARK BAY RY Under construction, in Newark, N. J., 4.91 miles. Controlled by the% Lehigh Valley RR. Co., through ownership of the" capital stock. BALANCE SHEET, June 30, 1902. — Capita! stock, $10,000 ; advances by L. V. RR. Co., $3,179 — total, representing cost of road, etc., $13,179. CORPORATE OFFICERS. — John Hood, Pres., Camden, N. J. ; David G. Baird, Sec. ; W. C. Alderson, Treas., Philadelphia, Pa. WILKESBARRE AND HARVEY'S LAKE RR. — Luzerne to Shawanese Lake. Pa., 14.06 m. ; Black Diamond Breaker to Black Road. Pa., 0.95 m. — total, 15.01 m. ; total track (steel: 67 Ibs.), 18.59 miles. HISTORY. — Chartered Sept. 24, 1885. Con- trolled by the Lehigh Valley RR. Co. through ownership of stock. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $150,000; current liabilities, $205,861 — total, representing cost of road, $355,861. CORPORATE OFFICERS. — E. B. Thomas, Trea?. ; D. G. Baird, Sec. ; W. C. Alderson, Treas., Philadelphia, Pa. Office, 228 So. 3d St., Phila- delphia, Pa. LEHIGH VALLEY RR. OF NEW JERSEY.— Consolidation, July 29, 1903, of the Lehigh Valley Terminal Ry., the Greenville and Hudson By., the Middlesex Ry., the Perth Amboy and Raritan Ry., the Pittstown Branch Ry. and the Easton and Amboy RR., whose combined length of main track on June 30, 1902, was 109.01 miles. The details of this mileage will be found in the separate statements for the constituent roads, appended hereto. The capital stock of the consolidated company is $16,454,000, representing the amount at par of the capital stocks of the six merged corporations. Directors, L. V. RR. Co. of N. J E. B. Thomas, J. A. Middleton, W. C. Alderson, E. T. Stote-sbury, L>. G. Baird, John Hood, George N. Wilson, Philadelphia, Pa.; H. S. Drinker, J. William Robbins, New York, N. Y. OFFICERS: E. B. THOMAS, Pres.; J. A. Middleton, Vice-Pres.; W. C. Alderson, Treas.; D. G. Baird, Sec., Philadelphia, Pa. OFFICE, 228 South Third Street, Philadelphia, Pa. STATEMENTS AS OF JUNE 30, 1902, SHOWING THE HISTORY, CAPITALIZATION, ETC., OF THE LINES CONSOLIDATED INTO THE ABOVE COMPANY: EASTON AND AMBOY RR. — Easton, Pa., to Perth Amboy, N. J., 60.15 m. (double track, steel rails, and 98.21 m. yard tracks and sidings) ; branches, 8.37 ro. — total, 68.52 miles. HISTORY. — Chartered April 3, 1872. Main line opened in June, 1875 ; branches completed in 1892. Operated by the L. V. RR. Co. under agreement of May 24, 1893. BALANCE SHEET, June 30, 1902. — Capital stock (owned by L. V. Term. Ry. Co.), $6,000,000; funded debt (1st 5s of May 1, 1920), $6,000,000; due L. V. RR. Co., $1S5,316 — total, representing cost, etc., $12,185,316. The L. V. RR. Co. guaran- tees the bonds both as to principal and interest. GREENVILLE AND HUDSON RY Un- der construction from Greenville to Jersey City, N. J., 2.62 m. ; completed up to June 30, 1902, 1,877 miles. Controlled by the Lehigh Valley RR. Co. through ownership of the entire stock and bond issues. BALANCE SHEET, June 30, 1902. — Capital stock, $400,000; funded debt (1st gold 5s of May 1, 1997), $350,000; advances by L. V. RR. Co.. $436,722 — total, representing cost of road, etc., $1,186,722. LEHIGH VALLEY TERMINAL RY. — South Plainfield, N. J., to Communipaw, Jersey City, N. J., 22.81 m. ; branches, 5.28 m. — total. 28.09 miles. HISTORY. — Consolidation, Aug. 28, 1891, of the Roselle and South Plainfleld (see Manual for 1891, page 749), the Newark and Roselle, the Jer- sey City, Newark and Western, the Newark and Passaic, the Jersey City Terminal, the Edge- water, and the Newark Ry. Cos. Leased to the Easton and Amboy RR. Co., and together with that company's road operated by the Lehigh Valley RR. Co., under agreement of May 24, 1893. FINANCIAL STATEMENT. — Capital stock (owned by L. V. RR. Co.), $10,000,000; funded debt (1st gold 5s of Oct. 1, 1941), $10,000,000; car trust certificates, $900,000 — total, $20,900,000. The bonds 688 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. are secured on the railway and on terminal prop- erty at Jersey City covering about 125 acres and having an extensive frontage on the Hudson River. MIDDLESEX RY In Perth Amboy, N. J., 0.34 mile. Chartered Nov. 30, 1886. Extends from a point in the side track of the Easton and Am- boy RR. in Perth Amboy, N. J., to the United Refiners' Export Oil Co.'s property in same city. Operated as a branch of the Easton and Amboy RR. Controlled by the Lehigh Valley RR. Co. through ownership of stock. BALANCE SHEET, June 30, 1902. — Capital stock paid in ($10,000 auth. ; $100 shares), $2,000; floating debt, $2,254— total, $4,254. PERTH AMBOY AND RARITAN RY. — Perth Amboy Branch to Mill Brook Road, includ- ing Keasby and Weber Branches, 6.16 miles. HISTORY. — Constructed in 1891 to 1893. Con- trolled by the Lehigh Valley RR. Co., through ownership of capital stock. BALANCE SHEET, June 30, 1902. — Capital stock, $12,000; advances by L. V. RR. Co., $60.227 — total, representing cost of road, etc., $72,227. PITTSTOWN BRANCH RY Landsdown to Pittstown, N. J., 4.02 miles. Rail (steel), 67 Ibs. HISTORY. — Chartered March 6, 1890 ; operated as a branch of the Easton and Amboy RR. Con- trolled by the Lehigh Valley RR. Co., through ownership of stock. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), authorized and paid in, $40,- 000; advances by L. V. RR. Co., $19,536 — total, representing cost of road, $59,536. LEHIGH VALLEY RY. (THE).-Consolidation, Aug. 3, 1903, of the Depew and Tonawanda RR., Rochester Southern RR., Middlesex Valley RR., Seneca County Ry., Waverly and State Line Ry. and The Lehigh Valley Ry., whose combined length of main track on June 30, 1902, was 362.95 miles. The details of this mileage will be found in the separate statements for the constituent roads, appended hereto. In the consolidation the capital stock of The Lehigh Valley Ry. Co. was increased from $5,900,000 to $10,000,000, part of the increase being issued in exchange for the stocks of the five other merged cor- porations and part held in the treasury for the future use of the company. Directors, L. Vy. Ry. Co.— E. B. Thomas, E. T. Stotesbury, D. G. Baird, G. N. Wil- son, W. C. Alderson, J. R, Fanshawe, Robert H. Sayre, John B. Garrett, Philadelphia, Fa. ; Charles Steele, H. S. Drinker, J. F. Schaperkotter, New York, N. Y. ; Wilson S. Bissell, Buffalo, N. Y. ; one vacancy. OFFICERS: E. B. THOMAS, Pres.; D. G. Baird, Sec.; W. C. Alderson, Treas., Philadelphia, Pa. OFFICE, 228 South Third Street, Philadelphia, Pa. STATEMENTS AS OF JUNE 30, 1902, SHOWING THE HISTORY, CAPITALIZATION, ETC., OF THE LINES CONSOLIDATEP INTO THE ABOVE" COMPANY: FINANCIAL STATEMENT. — Capital stock ($100 shares), $500,000; funded debt (1st gold 5s of Nov. 1, 1942), $600,000 — total, $1,100,000. Cost of road, etc., $1,094,309. In addition to the entire capital stock the Le- high Valley RR. Co. owns $225,000 of the bonds, and guarantees the remaining $375,000 of bonds. ROCHESTER SOUTHERN RR Rochester to Hemlock Lake, 29.67 m. ; 2d track, 0.14 m. ; total track (steel; 76 and 80 Ibs.), 37.71 miles. HISTORY. — Consolidation, Aug. 14, 1895, of Rochester and Honeoye Valley, and the Rochester and Southern RRs. 'See Manual for 1896, page 595.) Controlled by the Lehigh Valley RR. Co., through ownership of capital stock and bonded debt. BALANCE SHEET, June 30, 1902.— Capital stock ($100 shares), $800,000; funded debt (1st gold 5s of Nov. 1, 1945), $425.000; open accounts. $70,610 — total, representing cost of road, $1,295,- 610. SENECA COUNTY RY Geneva to Seneca Falls, N. Y., 8.20 m. ; total track (steel; 76 Vbs.). 9.75 miles. HISTORY. — Chartered Feb. 24, 1891; road opened, Oct. 24, 1897. Controlled by the Lehigh Valley RR. Co. by ownership of capital stock. BALANCE SHEET, June 30, 1902. — Capital stock ($100,000 auth.; $100 shares), $10,000; due L. V. RR. Co'., $134,064 — total, representing cost of road, £144,064. WAVERLY AND STATE LINE RR Waverly, N. Y., to Penn. State Line, 0.41 m. ; total track (steel, 0.41 m. ; 58 to 80 Ibs.), 2.14 miles. HISTORY. — Chartered June 11, 1867; road opened Jan. 26, 1875, and leased in perpetuity to the Penn. & New York Canal and RR. Co. Owned and operated by the Lehigh Valley RR. Co. BALANCE SHEET, June 30, 1902. — Capital stock (owned by L. V. RR. Co.), $10,000; ad- vances by lessee, $54,398 — total, representing cost, etc., $64,398. DEPEW AND TONAWANDA RR Depew June, to Tonawanda June., N. Y., 10.56 m. ; 2d track, 10.39 m. ; total track, 22.58 miles. Rail (steel, 10.56 m.), 80 and 90 Ibs. HISTORY. — Chartered July 16, 1895; opened Nov. 15, 1896. Controlled by the Lehigh Valley RR. Co., by ownership of capital stock. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $500,000; open accounts, $243,- 571 — total, representing cost of road, $743,571. LEHIGH VALLEY RY Buffalo, N. Y., to Penn. State Line, 175.16 m. ; Van Etten June, to Geneva Junf., 59.49 m.'; Hayts Corners, Ovid and Willard RR. (leased), 3.82 m. ; Ithaca, N. Y., to Auburn, 42.46 m. ; Cayuga June., N. Y., to Ithaca June., N. Y., 3.75 m. — total, 284.68 m. ; 2d track, 175.16 m. ; sidings, 169.15 miles. Rail (steel, 259.92 m.), 58 to 80 Ibs. Owns 1,891 box freight cars. HISTORY. — Consolidation, June 23, 1890, of the Geneva and Sayre, the Geneva and Van Etten- ville, the Buffalo and Geneva, the Auburn and Ithaca, and the Lehigb Valley Ry. Cos. Opened throughout in Sept., 1892. Leased for 999 years from Jan. 1, 1891, to the Lehigh Valley RR. Co.. which owns the entire capital stock. BALANCE SHEET, June 30, 1902. — Capital stock ($100 shares), $5,900,000; funded debt (1st gold 4Js of July 1, 1940), $15,000,000; advances by L. V. RR. Co., $3,906,498 — total, representing cost, etc., $24,806,498. FUNDED DEBT. — The bonds are guaranteed, both principal and interest, by the L. V. RR. Co. They are secured on the above mileage and on terminal property in Buffalo covering about 500 acres and having an extensive frontage on Lake Erie and on Buffalo Creek. MIDDLESEX VALLEY RR. — Naples to Geneva, N. Y., 29.43 m. ; total track (steel; 60 Ibs.), 32.39 miles. HISTORY. — Chartered May 11, 1892; road opened as above in fall of 1894. On Dec. 2, 1895, the entire capital stock was acquired by the Lehigh Valley RR. Co. (See Manual for 1896, page 590.) POORS MANUAL LEHIGH VALLEY SYSTEM. 689 25. RAILROADS CONTROLLED BY OWNERSHIP OF A MAJORITY OF CAPITAL STOCK. LEHIGH AND NEW YORK RR. — Penn. State Line to North Fair Haven, N. Y.( 115.37 m. ; total track, 143.99 miles. Rail (steel, 115.37 m.), 58 to 70 Ibs. HISTORV. — Reorganization, Aug. 23, 1895, of the Southern Central RR. Co. (See Manual for 1895, rage 1396.) Leased for 999 years, from Aug. 24, 1S95, to the L. V. RR. Co., any surplus over bond interest going to the lessor as rental. BALANCE SHEET, June 30, 1892. — Capital stock ($100 shares), preferred, $3,391,648; com- mon, $411,700 — total, $3,803,348. Funded debt (1st gold 4s of Sept. 1, 1945), $2,000,000. The L. V. RR. Co. guarantees the bonds, both as to prin- cipal and interest. CORPORATE OFFICERS. — E. B. Thomas, Pres. ; W. C. Alderson, Treas. : D. G. Baird, Sec., Phi'.fidelphia, Pa. Office, Buffalo, N. Y. MONTROSE RY Tunkhannock to Montrose, Pa., 27.22 m. ; total track, 28.95 miles. Gauges, 3 ft. and (6 m., 3d rail) 4 ft. 8J in. Rail (steel, 2 m.), 40 Ibs. HISTORY. — Chartered April 15, 1869; road completed in 1S76. Controlled by the Lehigh Val- ley RR. Co. through ownership of more than 55 p. c. of the capital stock. BALANCE SHEET, June 30. 1902. — Capital stock paid in ($500,000 auth. ; $50 shares), $304,- 900 ; stock subscription, $2,527 ; current liabilities, $38,251 ; profit and loss, $243 — total, $345,921, rep- resenting cost of road, etc. CORPORATE OFFICERS. — E. B. Thomas, Pres. ; W. C. Alderson, Treas. ; D. G. Baird, Sec. Office, 22? So. 3d St., Philadelphia, Pa. PENNSYLVANIA AND NEW YORK CANAL, AND RR Wilkesbarre, Pa., to New York State Line, 98.97 m^ branches, 42.03 m. — total, 141.00 m. ; 2d track; 98.70 m. ; total track (steel, 394.13 m.), 397.59 miles. Rail, 58 to 76 Ibs. Chartered in 1867 and opened in 1869. Leased Dec. 1, 1S88, for 99 years, to the Lehigh Valley RR. Co. The State Line and Sullivan and Waverly and State Line RRs. (which see) are leased to this company. BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $1,061,700; funded debt, $10,- 000,000 ; current liabilities, $101,471 — total, $11,- 163,171. Contra : Cost of road, $8,147,969 ; lands owned, $127,242; profit and loss, $2,887,960 — total, $11,163,171. The L. V. RR. Co. owns about 99 p. c. of the capital stock. FUNDED DEBT, June 30, 1902, consisted of $1,500,000 1st 7s of June 1, 1906; and $8,500,000 consols. ($4,000,000 5s, $1,500,000 4Js and $3,000,000 4s) of April 1, 1939. Authorized amount of con- sols., $10,000,000 ; reserved to retire firsts, $1,500,- 000. The L. V. RR. Co. guarantees both issues, principal and interest. CORPORATE OFFICERS. — E. B. Thomas, Pres. ; D. G. Baird, Sec. ; W. C. Alderson, Treas. Office, 228 So. 3d St., Philadelphia, Pa. SCHliYLKILL AND LEHIGH VALLEY RR. — Lizard Creek June, to Blackwood, Pa., and branches, 41.68 m. ; total track (steel; 76 Ibs.), 47.88 miles. HISTORY.— Chartered Oct. 9, 1886; opened Sept. 15, 1890. Controlled by the Lehigh Valley RR. Co. through ownership of 99.92 p. c. of the capital stock and all the bonds. FINANCIAL STATEMENT. — Capital stock (par, $50), $2,000,000; funded debt (1st gold 5s of March 1, 1943), $2,000,000 — total, representing cost of road, $4,000,000. CORPORATE OFFICERS. — E. B. Thomas. Pres. ; D. G. Baird, Sec. ; W. C. Alderson, Treas. Office, 228 So. 3d St., Philadelphia, Pa. 26. RAILROADS OPERATED UNDER LEASE. HAYTS CORNERS, OVID AND WIL- LARD RR. — Hayts Corners, N. Y., to Willard, N. Y., 3.82 m. ; sidings, etc., 3.27 miles. Gauges (three rails), 3 ft. and 4 ft. 8i in. Rail (steel. 3.82 m.), b% Ibs. The total length of the line is 5.18 m., of which 3.82 m. are maintained and operated by the L. V. RR., and the remaining 1.36 m. are owned by the State of New York. The L. V. RR. operates the State's 1.3C m., under an agreement. HISTORY. — Chartered Sept. 15, 1882 ; opened in 1883, and leased for 99 years to Geneva, Ithaca and Sayre RR. Co., now a part of the Lehigh Valley RR. Co. FINANCIAL STATEMENT. — Capital stock, $4,100. Cost of road, $2,279. CORPORATE OFFICERS. — E. B. Thomas, Pres. ; ./. F. Covert, Sec., Ovid, N. Y. Office, Ovid, N. Y. STATE LINE AND SULLIVAN RR. — Monroeton to Bernice, Pa., 24.06 m. ; total track (steel: 58 Ibs.), 29.45 miles. HISTORY. — Chartered in 1864 as Sullivan and Erie RR. Co. ; opened in 1867. Sold under fore- 27. OTHER PROPERTIES CONTROLLED LEHIGH VALLEY COAL CO. — Incorpo- rated May 29, 1871, as the Green Land Co. Ab- sorbed the Delano Land Co. on July 26, 1900. Controlled by the L. V. RR. Co., by ownership of entire capital stock. (See Manual for 1899, page 139.) PRODUCTION OF COAL. — Comparative state- ment of coal produced by "the colleries in which this company and the L. V. RR. Co. are inter- ested ; years ending June 30 : 1902 Tons Lehigh Valley Coal Co.. . . 3,049,755.12 Tenants of L. V. Coal Co. 1,250,302.01 Other Tenants 1,320,814.13 Total Tonnage. . . . 1901 Tons 3,323,977.02 1,281,543.10 1.173,646.05 closure Oct. 14, 1874 ; reorganized as S. L. & S. Ry. Co., Dec. 2, 1874. Leased for 50 years, May 1, 1884, to the P. & N. Y. C. & RR. Co. ; rental, $40,000 per annum. The company's mines are not included in the lease. (See Manual for 1895, page 510.) BALANCE SHEET, June 30, 1902. — Capital stock ($50 shares), $980,250; funded debt (1st gold 4Js of Jan. 1, 1929), $295,000; current liabili- ties, $158,500 — total, $1,433,750. Contra : Cost of road, etc., $625,000 ; stocks and bonds, $26,125 ; other permanent investments, $101,801 ; lands, $500,000 ; cash and current assets, $114,886 ; profit and loss, $65,938 — total, $1,433,750. SINKING FUND. — There is a sinking fund provision under which the bonds may be called for redemption at 105 until Jan. 1, 1911, and thereafter at par. Total amount of bonds, $295,- 000 ; retired by action of sinking fund, $20,000 , outstanding, $275,000. CORPORATE OFFICERS. — N. N. Betts, Pres., Towanda, Pa. ; Chas. H. Davis, Vice-Pres., New- York, N. Y. ; E. D. Ackley, Sec. & Treas., Phila- delphia, Pa. Office, 204 Walnut Place, Philadel- phia, Pa. BY THE LEHIGH VALLEY RR. Co. INCOME ACCOUNT, year ending June 30, 1902. — Coal sales, $19,484,661.49 ; commissions, $125,- 500.76 ; royalties, $178,987.95 ; rents, $28,544.18 ; gen- eral interest, $47,650.85 ; dividends and interest, $20,346.50 ; timber sold, $10,385.57 ; miscellaneous, $542.76 — total, $19,896,620.06. Operating expenses, ?20,071,3^5.48. Deficit, $174,775.42 ; add interest on Snow Shoe bonds, $18.350 ; on Delano Land Co. bonds, $55,100 ; colliery improvements, $320,456.95 —total deficit, $568,682.37. INCOME AND PROFIT AND LOSS ACCOUNT, 7 months ending June 30, 1902. — Earnings and in- come, $10,807,031.92. Expenses and taxes, $11,074,- 711.88. Snow Shoe and Delano bond interest, $42,- 845.84 — total, $11,117,557.72. Deficit. $310,525.80 ; 5,620,872.06 5,779,166.17 , debit balance, Nov. 30, 1901, $2,764,448.86; un- 690 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. collectible accounts and sundry adjustments, $12,- 868.81 — total, $3,087,843.47. Credit : Sundry re- ceipts belonging to previous years, $4,719.04. Debit balance, June 30, 1902, $3,083,124.43. BALANCE SHEET, June 30, 1902. — Capital stock, $1,000,000'; funded debt, $17,983,000; depre- ciation of coal lands per sinking funds, $7S3,- 040.63 ; advanced royalties, $102,239.14 ; current lia- bilities, $536,411.19 — total, $20,404,690.96. Contra: Coal lands, $4,814,716.50 ; colliery improvements, $3,214,285.30 ; coal storage properties and plants, $607,581.94 ; other real estate, $8,454.25 ; treasury stock ( issued in exchange for stock of Delano Land Co. ) , $350,000 ; securities owned ( stocks and bonds, $357,762; mortgages receivable, $4,876.23), $362,638.23; advanced royalties, $5,198,773.19; ad- vanced insurance premiums, $15,024.23 ; trustees of sinking funds, $540,265.68 ; current assets, $1.- 722,170.18 ; stock of coal on hand, $262,678.92 : ma- terials, etc., $224,978.31; profit and loss, $3,083,- 124.43 — total, $20,404,690.96. FUNDED DEBT, June 30, 1902, consisted of (!"» $11,514,000 1st 5s of Jan. 1, 1933; (2) $5,000,000 1st 5s of May 1, 1947; (3) $367,000 Snow Shoe 1st 5s of Jan. 1, 1910, and (4) $1,102,000 Delano Land 1st 5s of Jan. 1, 1932. The L. V. RR. Co. owns the bonds of 1947 and guarantees the Ists of 1933 and the Delano Land bonds, both as to principal and interest ; the Snow Shoe bonds arc not guaran- teed. The 1st mtge. bonds of 1933 are secured on 16,290 acres of land owned by the company, 7,437 acres of which are within the coal measures and estimated to yield at least 124,000,000 tons of merchantable coal. The mortgage provides for a sinking fund of 10 cents for each ton of coal shipped from the mortgaged property, with a minimum of $25,000 per annum. Under this pro- vision $30,954.85 was set aside during the seven months ending June 30, 1902, to be applied to the purchase of bonds for cancellation. Trustee : E. P. Wilbur Trust Ce., South Bethlehem, Pa. The $5,000,000 mtge. bond of 1897, owned by the L. V. RR. Co., is a first lien on anthracite coal lands and interests in Schuylkill County, Pa., covering about 8,000 acres, of which about 6,000 are within the coal measures and estimated to yield about 237,000,000 tons of merchantable coal, and is also secured on bituminous coal lands in the same State, which cost $975,000, subject to a lien of $500,000, and on wharves and yards in Chicago, costing about $500,000 (hubject to $200,- 000 lien on one wharf), and in West Superior, Wis., costing about $350,000. In addition to the anthracite coal directly covered, the mortgage embrares, through ownership of stocks of coal companies, about 240,000,000 tons of merchantable coal, not covered by any other mortgage. The bond also has a junior lien on the property cov- ered by the first mortgage. Trustee : The Girard Trust Co., Philadelphia, Pa. The Snow Shoe bond;-- are secured on property in Centre County, Pa. The Delano Land bonds are secured on 5,229 acres in Rush Township, Schuylkill County, Pa. There is a minimum sinking fund of $30,000 per annum ; bonds may be retired at par or under. The interest and sinking fund of these bonds are provided from royalties on coal mined from the property. Trustee : The Girard Trust Co., Phila- delphia, Pa. STOCKS AND BONDS OWNED. — 6,304 shares (par, $315,200) Locust Mountain Coal and Iron Co. stock ; and $20,000 L. V. RR. 6 p. c. annuity bonds. DIRECTORS. — J. A. Middleton, Israel W. Morris, Charles Steele, Edward T. Stotesbury. Wm. H. Sayre, S. D. Warriner. Officers : E. B. Thomas, Pres. : W. H. Sayre, Vice-Pres. ; J. A. Middleton, 2d Vice-Pres.; D. G. Baird, Sec.; W. C. Alderson, Treas. ; S. D. Warriner, Gen. Mgr., Philadelphia, Pa. Office, 228 So. 3d St., Phila- delphia, Pa. MORRIS CANAL AND BANKING CO. — Length of Canal — Jersey City, N. J., to Phillips- burg, N. J., 102.38 m., with the following feeders: Lake Hopatcong, in Morris Co., 0.5 m., and Pompton feeder, in Passaic Co., 3.6 m. — total, 106.48 miles. TERMS OF LEASED— Leased for 999 years from April 1, 1871, to the Eehigh Valley RR. Co., the lessee assuming bonds and paying 10 p. c per annum on preferred stock and 4 p. c. on con- solidated stock. FINANCIAL STATEMENT. — Capital stock (consol. 4 p. c. guaranteed, $1,025,000; preferred 10 p. c. guaranteed, $1,175,000), $2,200,000 funded debt (1st 6s of Oct. 1, 1920, int. A. & O.), $500,000 — total, $2,700,000. CORPORATE OFFICERS. — E. B. Thoma?, Pres. : D. G. Baird, Sec. ; W. C. Alderson, Treas., Philadelphia, Pa. Office, Jersey City, N. J. 28. Board of Directors, Lehigh Valley RR. Co., elected January 20, 1903. EBEN B. THOMAS, Chairman of Board. . . .26 Cortlandt Street, New York, N. Y. B. Borie Philadelphia, Pa. Joseph Wharton E. T. Stotesbury " Irving A. Stearns. .Drifton, Pa. George F. Baer. . .Reading, Pa. R. C. Lippincott, Philadelphia, Pa. Chas. Steele... New York, N. Y. N. B. Ream... " " Ab. Nesbitt. . . Wilkesbarre, Pa. H.McK.Twombly.New York.N.Y. G. F. Baker J. R. Maxwell... E. B. THOMAS, President Philadelphia, Pa. J. A. Middleton, 2d Vice-President Philadelphia, Pa. Robert H. Sayre, Assistant to President South Bethlehem, Pa. Treasurer — Wm. C. Alderson. .Philadelphia, Pa. G>;n. Auditor — G. N. Wilson. .. .Philadelphia, Pa. Secretary — D. G. Baird Philadelphia, Pa. Asst. Secretary — E. A. Albright.. New York, N.Y. PRINCIPAL OFFICE AND ADDRESS . . No. 228 South Third St., Philadelphia, Pa. PENNSYLVANIA RAILROAD SYSTEM. Mileage of the System, Dec. 31, 1902.— A. LINES EAST OF PITTSBURGH AND ERIE (total, 5,811.59 miles). Baltimore, Chesapeake and Atlantic Railway 87.66 miles. Cumberland Valley Railroad Lines Long Island Railroad Lines Northern Central Railway. Lines Pennsylvania Railroad Lines 3,663.32 Philadelphia, Baltimore and Washington Railroad Lines 711.81 West Jersey and Seashore Railroad 329.52 B. LINES WEST OF PITTSBURGH AND ERIE (total, 4,744.39 miles). Cincinnati, Lebanon and Northern Railway 51.76 Cleveland, Akron and Columbus Railway 177.43 ( Continued on next page.), POOR'S MANUAL — PENNSYLVANIA RR. SYSTEM. 691 Brought forward 6,040.78 miles. Grand Kapids and Indiana Railway Lines 582.49 Pittsburgh, Fort Wayne and Chicago Railway Lines 1,338.16 Pittsburgh, Cincinnati, Chicago and St. Louis Railway Lines 1,644.66 Pittsburgh, Chartiers and Youghiogheny Railway 18.32 Terre Haute and Indianapolis Railroad Lines 672.72 Toledo, Peoria anjl Western Railway 230.70 Waynesburg and 'Washington Railroad 28.15 Total length of the system, Dec. 31, 1902 10,555.98 miles. Summary of Track Mileage, Deo. 31, 1902. First Second Track. Track. Lines East of Pittsburgh and Erie 4,744.39 788.76 Lines West of Pittsburgh and Erie 5,811.59 1,527.48 Totals 10,555.98 2,316.24 526.38 406.05 5,915.94 19/T20.59 As shown by the maps on pages 693 and 753, the system extends from the city of Xew York westerly to the Great Lakes and to the Mississippi, with lines running southerly to Chesapeake Bay, to the Potomac and to the Ohio, and easterly to the end of Long Island. The lines east of Pittsburgh and Erie are managed by the Pennsylvania RR. Co., while those west of the cities named are managed by the Pennsylvania Co., all of whose capital stock is owned by the Pennsylvania RR. Co. Those companies, however, do not directly operate all the lines they manage, as will be seen by reference to the separate statements appended hereto. Dec. 31, 1902. — Locomotives (passenger, 1,359; freight, Passenger and freight cars and floating equipment, as Third Track. 63.63 462.75 Fourth Track. 43.58 362.47 Side Total Track. Track. 2,449.27 8,089.63 3,466.67 11,630.96 Equipment (all lines) 2,618; shifting, 677), 4,654. follows : Passenger Train Cars . Passenger 3,040 Parlor 70 Dining .'.. 40 Combination 574 Bag., Mail and Express. . 1,131 Horse 7 Electric Motors 9 Street 90 Dynamometers 1 Freight Train Cars. Box 74,992 Refrigerator 2,784 Stock 6.43S Gondola and Flat 120,636 Stone 61 Lime 50 Cabin 2,256 Tank 595 Miscellaneous , 4 Floating Equipment . Ferryboats 45 Passenger Steamboat 1 Steam Launches 4 Tug Boats 37 Steam Lighters 4 Barges 92 Flat Scows 33 Dump Scows 4 Car Floats 83 Canal Barges 22 Dredgers 3 Total 4,962 Total 207,816 Total 328 Maintenance of way equipment (cabin and camp, 210; tool and block, 316; grading, 4; pile drivers, 9; rapid unloaders, 3; snow plows, 25; snow sweepers, 3; derricks, 153; steam shovels, 21; water tank, 1; test weight, 5; stone and wood trucks, ballast and flat cars, 1,756; gravel dump cars, 113; hand cars, velocipedes, etc., 2,990; hand trucks, 2,976; miscellaneous, 18; cinder, 9), 8,612. Traffic operations, earnings and expenses for all lines owned, operated or controlled by or affiliated in interest with the Pennsylvania Railroad System east and west of Pittsburgh and Erie, for the years ending Dec. 31, 1901 and 1902. KASTERN LINES. WESTERN LINES. ALL LINES. 1901 1902 1901 1902 1901 1902 Miles Road Operated 5,787.01 82,282,499 1,748,186,771 153,046,281 14,474,934,850 $ 132,181,403 87 86,820,846 50 5,836.36 90,439,163 1,953,606,301 164,967,834 15,795,933,765 1 145,649,763 99 98,136,904 47 4,698.20 22,188,802 620,917,699 90,361,754 7,454,043,109 $ 66,445,474 27 46,892,539 75 4,947.60 25,409,678 713,609,042 104,545,045 8,031,071,569 $ 74,200,100 49 54,083,367 36 10,485.21 10,783.96 104,471,301 115,848.841 2,369,104,470 2,667,215,343 243,408,035 2(59,512,879 21,928,977,959 23,827,005,334 $ $ 198,626,878 14 219,849,864 48 133,713,386 25 152,220,271 83 Passengers Carried Tons Freight Moved Freight Ton Miles Gross Earnings Operating Expenses Net Earnings. 45,360.557 37 22,841 06 15,002 71 7,838 35 65.68 p.c. 47,512,859 52 24,955 58 16,814 74 8.14084 67.38 p.c. 19,552,934 52 14,142 75 9.980 96 4,161 79 70.57 p.c. 20,116,733 13 14,997 19 10,931 24 4,06595 72.89 p.c. 04.913,491 89 18,943 53 12,752 57 6,190 96 67.03 p.c. 67,629,592 65 20.386 74 14,115 43 6,271 31 69.23 p.c. Gross Earnings per Mile Oper. Expenses per Mile Net Earnings per Mile Expenses to Earnings 692 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. The following is a condensation of the income accounts of all transportation com- panies east and west of Pittsburgh and Erie that are owned, operated or controlled by or affiliated in interest with the Pennsylvania RR. Co., for the year ending Dec. 31, 1902: Companies. Gross Earnings. Net Earnings. Other Income. Gross Income. Interest, Ren- tals, Divi- dends, and Other Charges. Surplus or Deficit. East of Pitlsburg and Erie. Penn. RR. Co *P..W.&B.RR.Co. W.J. & Sea.RR.Co. Nor. Cent. Ry. Co. Cumb.Val. RR. Co. Indep. Cos., East. . Cos.East.Tot. 1902 Cos.East, Tot. 1901 Increase S 112,663,330 13 12,231,194 18 3,893,798 86 8,456,685 19 1,256,500 66 7,148,254 97 $ 37,612,258 96 3,989,698 49 1,002.390 90 2,351,590 20 360.327 08 2,196,593 89 $ 9,039,876 94 566,489 97 23,190 14 575,607 78 18,375 05 343,011 60 $ 46,652,135 90 4,556,188 46 1,025,581 04 2,927,197 98 378,702 13 2,539,605 49 $ 46,101,192 29 4,556,188 46 1,025,581 04 2,797,631 07 305,147 15 2,576,687 35 S S. 550,943 61 S. 129,566 9l S. 73,554 98 D. 37,081 86 145,649,763 99 132,181,403 87 47,512,859 52 45,360,557 37 10,566,551 48 10,128,963 30 58,079,411 00 55,489,520 67 57,362,427 36 55,594,534 86 S. 716,983 64 D. 105,014 19 13,468,360 12 33,025,648 39 26,634,357 54 4,014,775 56 8,168,256 62 2,357,062 38 2,152,302 15 9,717,219 25 6,673,905 32 957,356 18 2,093,063 87 675,188 51 437,588 18 5,413,983 32 179,376 86 1,562 50 71,018 46 22,217 65 2,589,890 33 15,131,202 57 6,853,282 18 958,918 68 2,164,082 33 697,406 16 1,767,892 50 14,175,177 56 6,715,202 14 881,997 26 1,462,741 68 292,496 52 S. 956,025 01 S. 138,080 04 S. 76,921 42 S. 701,340 65 S. 404,909 64 West of 1'ittsburg and Erie. Pennsylvania Co. .. P.,C.,C.&St.L.Ry. . Gr.Rap.&In.Ry.Co. Indep. Cos., West. . Operated by V. T. Malott, Receiver T.Haute&In.RR. 1 T.H.&PeoriaRR. f Cos.West.Tot. 1902 Cos. West.Tot. 1901 Increase 74,200,100 49 66,445,474 27 20,116,733 13 19,552,934 52 5,688,158 79 3,943,065 95 !>5,804,891 92 23,496,000 47 23,527,615 16 20,208,531 82 S 2,277,276 76 S 3,287,468 65 7,754,626 22 563,798 61 1,745,092 84 2,308,891 45 3,319,083 34 Grand Tot., 1902) (10,783.96 miles) / Grand Tot., 1901 1 (10,485.21 miles) j Inc. (298.75 miles) 219,849,864 48 198,626,878 14 67,629,592 65 64,913,491 89 16,254,710 27 14,072,029 25 83,884,302 92 78,985,521 14 80,890,042 52 75,803,066 68 S 2,994,260 40 S 3,182,454 46 21,222,£86 34 2,716,100 76 2,182,681 02 4,898,781 78 5,086,975 84 * For the year ending October 31, 1902. PENNSYLVANIA RAILROAD COMPANY. (For map of this System, see page 693J INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Bonds Authorized 28 Bonds Owned 34 Cap. Expenditures, W. Pitts. 22 Capital Stock, P. RR. Co 17 Cap. Stock, Lines W. of Pitts. 23 Car Trusts, Remarks on 21 Coal Properties, Earn., etc. . 15 Current History 38 Directors and Officers 42 Dividends Paid by P. RR. Co. 16 Earnings, etc., 1865-1902 9 Earnings, Exp., etc., 1902. . . 6 Floating Equipment 5 Freight Business, P. RR. Div., 1865-1902 14 Freight Traffic, etc., 1865-1902. 12 Funded Debt, Details of 27 Funded Debt, Lines W. Pitts. 23 Gen. Bal. Sheet, 1896-1902... 37 Gen. Bal. Sheet 26 Guaranteed Bonds 29 History 1 Income Account 8 Income Accounts, Lines E. Pitts, and Erie 7 Income from Bonds Owned.. 34 Income from Stocks Owned.. 33 Insurance Fund 31 Leased Lines, Statements for 40 Mileage of Track 3 Mileage Operated 2 Operations and Income 6,7 Oper. P. RR. Div., 1896-1902. 10 Passenger Business, P. RR. Div., 1893-1902 11 Pass. Traffic, etc., 1865-1902.. 13 Property Charged in Con- struction Account '. 30 Relief Dept. Statement 32 Relief Fund Surplus 32 Rolling Stock 4 Securities Owned, J895-1902.. 36 Sinking Funds, Remarks on. 19 Stocks Owned 33 Subsidiary Lines 39-41a 1. History.— Chartered April 13, 1846; main line from Harrisburg to Pittsburgh opened Feb. 15, 1854. Between Harrisburg and Philadelphia the line is made up of the Philadelphia and Columbia RR. (formerly a State work) and the Harrisburg, Portsmouth, Mount Joy and Lancaster RR., the former purchased in 1857 and the 693 G94 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. latter leased in 1861. (See MANUAL for 1892, page 834.) The other lines were acquired from time to time as shown in previous numbers of the MANUAL. The Trenton Cut-off RR. and the Schuylkill and Juniata RR., two of the company's leased railroads, were absorbed by consolidation on April 1, 1902. Six other of the leased or operated roads — the Western Pennsylvania, the South Fork, the Turtle Creek Valley, the West Chester, the Downingtown and Lancaster and the Riverfront — in which the Pennsylvania RR. Co. was the only stockholder, were absorbed by consolidation after Dec. 31, 1902. Statements for those roads will be found subjoined hereto. 2. Mileage Operated, Dec. 31, 1902.— A. LINES OWNED (total, 833.87 miles) : Main Line: Harrisburg to Pittsburgh, Pa 248.25 miles. *Steubenvillc Extension: Washington St., Pittsburgh, to Birmingham, Pa. 1.23 Philadelphia and Columbia RR.: West Philadelphia to Columbia, Pu 79.79 " Filbert Street Ext.: Broad St. Station, Phila., to West Phila., Pa 0.97 Columbia Section: P. RR. in Columbia, Pa 0.53 " Extensions in Philadelphia: Delaware Extension, 7.84 m. ; Girard Point f Branch, 2.06 m. ; Swanson Street Branch, 1.22 m. ; Schuylkill River Branch, 3.19 m.; 42d Street Branch, 0.14 m 14.45 Schuylkill Division: West Philadelphia to Pottsville. Pa 91.44 Pencoyd Branch: Manayunk to Pencoyd, Pa 1.28 Phoenixville Branch: Frazer to Phoenixville, Pa 10.05 Reading Branch: Court St. to Sixth St., Reading, Pa 0.98 Primrose Branch: Pottsville to Primrose, Pa 7.49 Trenton Branch: Glenlock to Morrisville, Pa 45.64 Frazer Branch: Frazer, Pa., to junction with West Chester RR l.GO ' Lancaster Cut-off: Conestoga Junction to Dillerville Junction, Pa 2.42 *York Branch: Columbia to York, Pa 12.88 " *Rockville Branch : Rockville to Dauphin, Pa 2.82 Tyrone Branch : Tyrone to Vail, Pa 3.15 ' Hollidaysburg Branch: Altoona to Morrison's Cove Junction, Pa., and branches to Portage Iron Works and to Newry, Pa . 10.90 ' Morrison's Cove Branch: Morrison's Cove Junction to Henrietta, Pa.... 18.90 ' Martinsburg Branch: Martinsburg Junction to Martinsburg, Pa 0.70 ' Bloomficld Branch: Roaring Spring to Ore Hill, Pa 3.00 ' Petersburg Branch: Morrison's Cove Junction to Petersburg Junction, Pa. 31.61 Canoe Creek Branch: Junction Petersburg Branch to Moore's Mill, Pa.. 2.62 ' Crissman Branch: Junction Canoe Creek Branch to Terminus 1.24 Clapper Branch: Junction Canoe Creek Branch to Terminus 0.76 ' Springfield Branch : Springfield Junction to Oreminea, Pa 8.20 Clover Creek Branch: Clover Creek Junction, Pa., to Terminus 2.38 " Lilly Branch: Lilly, Pa., to Coal Mines 2.12 Ben's Creek Branch: Ben's Creek, Pa., to Coal Mines 1.61 Martin's Branch: Main Line, near Portage, Pa., to Coal Tipple 3.63 Sonman Branch : Sonman, Pa., to Terminus 0.77 Summerhill Branch: Summerhill to South Fork, Pa 2.03 „ , .„ „ , ( Bradenville Junction to Coal Works 2.89 Bradenmlle Branch : { Ligonier Junction to Coal Works 0.90 Brush, Creek Branch : Jeannette, Pa., to Terminus 0.54 Johnstown Branch: near Conemaugh to Johnstown, Pa 1.60 Indiana Branch: Blairsville Intersection to Indiana, Pa 18.91 Tearing Run Branch: Tearing Run Junction, Pa., to Terminus 0.83 Homer and Cherry Tree Branch: H. & C. T. Junction, Pa., to Terminus. . . . 0.45 Alexandria Branch: Donohoe to New Alexandria, Pa., and Salem Coal Wks. 8.12 Bull Run Branch: Jeannette, Pa., to Terminus 0.72 Manor Branch: Manor to Claridge, Pa 4.30 Youghiogheny Branch: Irwin to Gratztown, Pa 10.19 East Pittsburgh Branch: Stewart, Pa., to Carnegie's Union RR 5.90 Port Perry Branch: near East Pittsburgh to Thomson, Pa 1.32 Sunbury Division : Sunbury to Tomhicken 43.44 Wilkesbarre Branch: Catawissa to Wilkesbarre, Pa 43.13 Clenlyon Branch : Nanticoke to Glenlyon, Pa 4.69 Nanticoke Branch: Nanticoke to West Nanticoke, Pa 0.61 Nescopec Branch: Rock Glen Junction to Nescopec, Pa 11.96 (Continued on next page.) POOR S MANUAL — PENNSYLVANIA RR. CO. 695 Brought Forward 770.54m les. Pottsville Branch: Pottsville to New Boston Junction, Pa 9.80 Morea Branch: Morea to Morea Breaker, Pa 1.00 Shenandoah Branch: Frackville to Shenandoah, Pa 4.98 Colliery Branch: Shenandoah Junction to Win. Penn Colliery, Pa 2.54 Lewistown Division: Selinsgrove Junction to Lewistown Junction, Pa.... 44.74 Milroy Branch: Lewistown to Milroy, Pa 11.14 Total length of lines owned by P. RR. Co 850.80 miles. *Deduct lines owned but not operated by P. RR. Co 16.93 " Total length of lines owned, operated by P. RR. Co 833.87 miles. B. OPERATED UNDER LEASES (total, 2,348.91 miles). Allegheny Valley Ry Bald Eagle Valley RR Belvidere Delaware RR Caniden & Burlington County RR. Colum., Kinkora & Spring. RR.. Connecting Ry Freehold & Jamesb'g Agr. RR.. Har., Ports., Mt. Joy & Lane. RR. Johnsonburg RR Lcwisburg & Tyrone RR Mt. Holly, Lumbert. & Medf. RR. Phila. & Beach Haven RR Philadelphia & Erie RR Phila. & Long Branch RR Philadelphia & Trenton RR Pitts., Va. & Charleston Ry Pomeroy & Newark RR Ridgway & Clear-field RR River Front RR C. OPERATED UNDER CONTRACTS OTHER THAN LEASES (total, 454.92 miles). 260.51 m. Brought Forward 1,236.46 92.63 m. Rocky Hill RR 2.38 81.00m. 29.61 m. Southwest Pennsylvania Ry. Tyrone & deal-field Ry 128.71 141.64 10.84m. 36.19m. United RR. of New Jersey . . Vincentown Branch RR 144.91 2.84 27.54m. West Chester RR 5.22 52.64 m. 19.69 m. Western New York & Pa. Ry. Bradford Ry 382.32 2.51 85.12m. 5.95 m. 1209m. Genesee Valley Canal RR. Genesee Valley Tenn. RR. Kinzua Ry. . 98.54 2.46 . 14.04 307.01 m. Kinzua Valley RR 10.00 49.07 m. 26.50m. 81.52m. 26.70m. McKean & Buffalo RR Olean, Brad. & Warren Ry. Roch., N. Y. & Pa. RR.... Union Terminal RR 22.31 2.29 12.00 2.30 27.23 m. 4.62 m. Western Pennsylvania RR . . 137.98 Bedford & Bridgeport Ry 49.17m. Cambria & Clearfield RR 104.76 m. Cresson & Trvona RR 29.51m. Del. River RR. & Bridge 10.27 m. Downington & Lancaster RR.. . . 37.58 m. Ebengburg & Black Lick RR 20.88 m. Lancaster & Reading N. G. RR. . 15.21 m. Masontown & New Salem RR. . . 6.04 m. Millstone & New Brunswick RR. . 6.64m. Brought Forward 280.06 Monong. & Washington RR. 14.60 New York Bay RR. 10.92 Pennsylvania & Northw. RR. 78.64 Perth Amboy & Woodb. RR.. 6.40 South Fork RR 44.94 Tipton RR 4.44 Trenton Delaware Bridge.... 0.19 Turtle Creek Valley RR 14.73 Total railroad mileage operated by P. RR. Co 3.637.70 miles. Delaware and Karitan Canal (U. N. J. RR. & C. Co.) 66.00 " Hudson River Ferries (U. N. J. RR. & C. Co.) 1.00 " Pennsylvania Annex: Jersey City, N. J., to Brooklyn, N. Y 1.00 " Total mileage operated by P. RR. Co., Dec. 31, 1902 3,705.70 miles. 2d track on lines owned (850.80 miles of first track), 425.17 m.; 3d track, 296.57 m.; 4th track, 234.85 m. ; sidings, 935.42 m. ; total mileage of track owned, 2,742.84 miles, of which 2,730.65 miles are laid with steel rails. Gauge, 4 ft. 9 in. Rail, 56 to 100 Ibs. P. RR. standard. 2a. Lines Owned but Not Operated by P. RE. Co.— The Steubenville Exten- sion is operated by the Pittsburgh, Cincinnati, Chicago and St. Louis Ry. Co., and the York and Rockville Branches by the Northern Central Ry. Co. 3. Track Mileage Operated by P. RR. Co.— The following statement shows, by operating divisions, the track mileage of the various lines operated directly by the Pennsylvania RR. Co. on Dec. 31, 1902: (Continued on page 696.) 006 POOR'S MANUAL RETl-R.NS RECEIVED TOO LATE FOR CLASSIFICATION. NAME OF LINE. First Track. Second Track. Total Track. NAME OF LINE. First Track. Second Track. Total Track. United BRs. of N.J. Div. NEW YORK DIVISION. Un. N.J.RR.&C.C.Co.'sRR M. M. 56.54 56.54 1.55 1.45 1.47 1.09 3.68 2.21 4.36 4.36 0.67) 0.16 2.05 1.67 6.40 4.67 1.89 6.64 M. .•*67.23 39.36 5.52 7.05 11.53 0.67 0.16 4.39 14.99 2.37 7.91 4.19 3.49 7.69 0.76 135.89 1.96 9.43 2.19 0.39 107.43 9.76 0.76 1.24 7.72 SCHUYLKILL DIVISION. Schuylkill Div. P. RR .... Pencoyd Branch M. 91.44 1.28 M. 24.00 M. 180.61 1.61 14.10 2.59 10.73 209.64 10.92 594.58 5.78 611.28 49.49 11.00 Phoenixville Branch. . . Sixth Street Branch Primrose Branch Total Schuylkill Div MIDDLE DIVISION. Har., P.,Mt. J. & L. RR. . . Pennsylvania RR 10.65 0.98 7.49 111.84 0.99 125.37 4.44 0.40 24.40 0.99 125.37 Centre Street Branch... . New York Bay RR Lister Branch Newark Bay Br . . . . W. Newark Branch . . P. Amboy AWoodb. RR .. . Bonhampton Branch .... Millstone &N. Brnswk. RR. Tipton RR Rocky Hill RR 2.38 Total Middle Division.. . BEDFORD DIVISION. Bedford & Bridgeport Ry. . Dunning's Creek Br Total Bedford Division . TYRONE DIVISION. Tyrone Branch P. RR. 130.80 38.70 10.47 126.36 3.11 Trenton Dela. Bridge Phila & Trenton RR 0.19 26.50 0.68 2.77 0.76 0.24 36.19 4.82 0.69 0.90 3.86 0.19 26.50 0.68 2.27 '13.49 4.41 0.07 3.86 TVoTi Oiit-nfT P RT? River Front RR Commerce St. Branch . . Canal St. Branch 49.17 3.15 19.90 5.30 2.08 51.20 22.22 4.72 2.05 2.99 49.63 0.78 11.98 2.43 8.81 0.83 1 32 60.49 23.67 21.10 6.11 2.14 64.86 27.19 5.16 2.89 6.36 77.20 1.10 20.31 2.73 10.77 1.00 2.08 1.11 0.44 0.11 8.62 5.46 2.09 1.74 1.26 1.02 2.98 3.04 2.70 1.04 12.56 4.04 5.60 1.42 3.57 2.15 5.68 0.78 3.83 3.13 1.37 4.44 1.88 1.82 1.08 2.45 1.82 Del. Riv. RR.& Bridge . Branch No. 1 Branch No. 2 Lewis. & Tyr.RR.(W.End) Scotia Branch Juniata Branch Bald Eagle Valley RR. . . . Snow Shoe Branch . . . Sugar Camp Branch. . Grauer Branch .... Bellefonte Branch Tyrone & Clearfield Ry . . . Osceola Branch Moshannon Branch Big Run Branch Mosh. & Clear. Br Beaver Branch Branch No 3 Total New York Div .... AMBOY DIVISION. Un.N.J.RR.&C.Co.'sRR. . 172.66 61.22 5.59 27.54 6.10 10.84 2.17 22.46 7.15 5.95 2.84 46.09 1.80 1.18 12.09 123.46 31.44 5.58 0.74 1.04 754.07 205.10 13.69 36.66 9.73 11.95 2.41 30.06 12.47 6.99 3.39 51.18 2.02 1.51 14.54 7.76 4.58 Freeh.&James.Agri.RR.. Bordentown Branch .... Col., Kin. & Spring. RR. Florence Branch Cam. now Sweeper Derrick one & Wood Trucks & Flat Cars 1,123 and Cars 822 and Trucks 1,105 Test Weight 4 Total Pass. Train Cars 1,887 Total Freight Cars 59,574 Total Service Cars 3,309 The preceding statement embraces only the equipment absolutely owned by the company, and therefore does not include 35,653 freight cars, with a capacity of 1,536,755 POOR S MANUAL PENNSYLVANIA KU. CO. G99 tons, leased under various Car Trusts and under the Equipment Trust Gold Loan, which if added to the above would make a total of 95,227 freight cars, of a total capacity of 3,298,570 tons. 4a. Statement of rolling stock Pennsylvania RR. System for ten years ending Dec. 31: 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1,805 1,379 383 13,288 2,929 22,292 734 1,803 1,388 374 14,313 2,929 22,888 757 1,803 1,388 374 14.313 2,929 23,209 782 1,803 1,386 379 15,610 1,929 23,959 782 1,803 1,386 379 15,615 1,929 29,254 782 1,803 1,386 394 16,113 1,929 31,992 782 1,848 1,386 393 16,730 1,926 32,591 815 1,889 1,386 393 16,733 1,929 32,607 890 2,016 1,416 416 16,733 1,929 32,618 906 2,213 1,418 469 21,233 1,915 34,798 1,011 33 584 Cars — Passenger and Emigrant Cars — Baggage, Mail, etc Cars — Freight Flat Cars — Oil Tank 1,088 9 2,755 42,176 1,084 1,045 1,029 1,010 755 635 625 614 Cars — Marl Cars — Freight, Service Cars — Owned by Car Trust Cos., etc. . 3,081 40,644 3,088 41,127 3,088 44,334 3,139 38,798 3,156 41,808 3,159 49,391 3,231 54,065 3,248 33,521 3,309 35,653 5. Floating Stock, Dec. 31, 1902.— Steam ferryboats, 14; tugboats, 33; steam lighters, 3; barges, 91; flat scows, 30; dump scows, 4; car floats, 75; canal barges, 22; dredgers, 3 — total, 275. O. Results from Operation, year ending Dec. 31, 1902: Pennsylvania RR. Division. United RRs. of N. J. Division. Phila. & Erie Division. Buffalo and Allegheny Val. Division. Total. 1,761.32 9,865,050 18,618,947 467.79 6,203,991 2,854,012 599.31 1,646,193 2,803,246 809.28 2,324,494 2,789,312 3,637.70 20,039,734 27,065,517 Train Mileage — Passenger. . . . Freight Total Rev. Train Mileage. . . 28,484,003 24,605,597 560,544,368 77,505,061 10,091,984,493 $ 11,573,596 06 53,623,876 31 1,348,831 87 1,126,468 26 340,708 13 273,577 85 9,058,003 19,542,934 456,254,479 *24,499,420 *1,409,601,524 $ 9,597,180 21 14,670,251 29 504,408 19 960,680 23 243,030 78 273,021 97 334,066 46 4,449,439 2,563,282 61,287,454 18,035,807 1,476,143,135 8 1,391,489 12 7,647,690 38 77,282 93 99,293 23 34,956 87 48,867 04 5,113,806 3,575,196 87,522,732 12,793,557 1,046,468,899 $ 1,869,682 96 6,307,351 43 99,502 77 94,986 67 46,919 65 75,609 47 47,105,251 50,287,009 1,165,609,033 133,433,845 14,024,198,051 8 24,431,948 35 82,249,169 41 2,030,025 76 2,281,428 39 665,615 43 671,076 33 334,066 46 Passengers Carried One Mile.. . Tons of Freight Moved 1 Mile . Mail Miscellaneous Del. & Rar. Canal . 68,287,058 48 7,784,824 74 11,622,135 97 21,967,894 62 1,509,728 47 26,582,639 13 2,982,809 08 2,830,476 01 12,342,536 32 299,682 38 384,767 76 9,299,579 57 1,230,470 12 1,597,558 97 3,209,204 59 124,185 38 8,494,052 95 1,933,346 57 1,712,385 93 3,409,882 06 109,182 20 112,663,330 13 13,931,450 51 17,702,556 88 40,929,517 59 2,042,778 43 384,767 76 Expenses — Maint. of Way, etc. Maint. of Equip. . . Conducting Trans. General Expenses Del. & Rar. Canal.. 42,884,583 80 25,402,474 68 38,770 39 24,347 98 14,422 41 62.80 p. c. 2.065 c. 1 .438 c. 0.627 c. 0.531 c. 0.345 c. 0.186c. 18,840,271 55 7,742,367 58 53,899 95 37,243 48 16,656 47 t70.88 p. c. ].882c. 1.294c. 0.588 c. 1.041 c. 0.817 c. 0.224 c. 6,161,419 06 3,138,160 51 15,517 14 10,280 85 5,236 29 66.25 p. c. 2.270 c. 1.780C. 0.490 c. 0.518 c. 0.344 c. 0.174 c. 7,164,796 76 1,329,256 19 10,495 81 8,853 30 1,642 51 84.35 p. c. 2.136 c. 2.199 c. L. 0.063 c. 0.603 c 0.501 c. 0.102 c. 75,051,071 17 37,612,258 96 30,594 76 20,241 62 10,353 14 66.62 p. c. 2.009 c. 1.457c. 0.552 c. 0.586 c. 0.404 c. 0.182C. Operating PJxpenses per Mile. . Net Earnings per Mile Earnings per Pass, per Mile . . . Expenses per Pass, per Mile. . . Profit per Passenger per Mile. . Earnings per Ton per Mile .... Expenses per Tun per Mile. . . . •Exclusive of 510,316 tons or 16,066,301 ton-miles on the Delaware and Raritan Canal. tThe percentage of railroad expenses to railroad earnings was 70.31 and of canal expenses to canal earn- ings, 115.18. 700 POOR'* MANWAL RETURNS RK» Kl\ KD TOO LATE FOR CLASSIFICATION. o35£- Pit O j i > IM o o .22 »- ^ §1 •&I bo o ?R| T^ 4) I g—t oi ••jicpf-fots^r-oco -cc>Ci — ro ~ -o re n o — -HO — 838 : II 33 32 8 : : : :88 S3 88 OM 8 :8 ;8 s" is! ir Gooses -r •— -* Q 5 IN co o o j »c o o if O OO •t to »o ic rr <— • -^ i— i ro Oi_--^ ac ^ c- j o d CM »-i iO *O »-H »-« •*C.^" c-f ot^-r — — c-ioi-o — — — 'X — M '' "" """"" "" DC >o oj c^ »— i h*. oo o c; '-^ Q c^i -t- ooooooccSooooo O^iCCO'-HiO'ff StO O ~* Q O <* C OO Ci Ci C^ t— '— • C -* c«5 •— oo 5 OCC^C-J ^" C^J — * ' ^- C^ C^C<» CO O *§O.C» .^H^-iCD«O' ^»OM5 ! o >c M i— < • jriMsl "-j-SG.- :"? cJ s«J g.-S^es £ Szl^g^.^f "ISwSlISfia £«-§»^_: ai *• ^ **— j 71 ^4 . "^ ^ tr fc •— c o T* t/^4 t r2-- £. ~n > 35* j= £ c Ss -a c 2-~i ?<-=""- ti En2 § Ef = =r = H- •ssl •T- S? : is Ss £s=a-2 PK-rf -ojn^c_-:sS£^"Kt;'' :Z •£••£ c^ S a r;- t^- - -J2r>'2»55.EJ?j3 5— B I? I J||l ^ g^a^l^lS*3?? 3 f3 «' SlZ '§•- •g e">,-< ST ^ S?^ ag^o'^Sooucj'Sois g'^ •gJS'-r *-^ § .9 -^ >r* TS n . '^ ^o ^ Q a. -^ ^ ^ i± Q li. ''"i POOR'S MANUAL — PENNSYLVANIA RR. CO. 701 . CO O5 — >C .00 i^»c ^- 10 as »c co co • •«$ • CQ*cr-coocooc^ * t-— O F- SO »O Ci O r~" CO < «-i fi r- O •* •» COCMCO S :8 - S8 CO <— i (M r*< t-» Tt< •^ O C^J i— i CO OS ,-T crTi-* ^jT cT Osf ic os OS w r— c^ l~*- Oi GO ^-* »— ! O 'O OO Ol O ^H ( s TJJ 55 -H oooo *-• o t^ 03— •* co co r^co ic r^o CC CO ^2 M* O §00 c» C3500 'cocoes • t--o?3 • c> o ^« 'CBCOO . ~H t^ CO :8 : ' i— * »-^ CO : «« : Ci ,104,743 87 206,348 76 50 04, 06, 39,4 10,9 iO CO O C^ CO O O 3C QQQGi ClQCjC) ^^O CD OO • IOOO -> te 2 S -Sf-S^r B SS.SS w t i ch e figu e RR. apeake y lines interes ?»8S§S?ig: O OCDOOO lie S^ CO OS e^ " * CO Too*Tjr CDOQ O: CO ^* CO CC to .2 65N«a s.°sgaM 2-2^^3": fc§-o£l X>*JM> O aii t> T3 CO C CC QI a, O w 3 O o. 5g£^&° (^2c«-g i|S|l! B^S|a «W5^8 2 iff i T *o "ti w = SSSSBf ?&|sgs ^ O X 702 POOR'S MANUAL RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. 8. General Income Account, year ending December 31, 1902. Net earnings as per Sec. 6 $37,612,258 96 Less Rentals of Roads Operated on Basis of Net Earnings 6,657,42197 Net Oper. Earn. P. RR. Co.... $30,954,836 99 Interest from Investments, P.RR.Co.. 8,118,860 65 Interest on Securities of United New Jersey RR. & Canal Co., and Other Income 253,54319 Interest from Branch and Other Roads for use of Equipment 394,700 41 Profits from Sundry Accounts 272,772 69 Total Income $39,994,713 93 Fixed Rentals of Leased Roads $4,948,526 20 Interest on Bonded Debt 4,661,562 07 Interest on First Installment P. RR. 31 p. c. Gold Convertible Bonds 434,321 34 Interest Mtges. and Ground Rents 172,318 97 Car Trust Payments 2,050,48004 Interest General Account 74,16823 Sink. Fund Eq. Trust Gold Loan 136.400 00 Taxes of Penn. RR. Co 1,558,78877 Payments on Account Joint Guaranty with Northern Central Ry. Co. on Lines North of Elmira and Miscel- laneous Accounts 108,185 07 Total Payments $14,144,750 69 Net Income, year ending Dee. 31, 1902 $25,849,963.24 From which the following amounts hare been deducted: Payment to the Trust of Oct., 1878, for the Purchase of Securities Guaranteed by the Pennsylvania RR. Co., or Issued or Guaranteed by the Pennsylvania Co $129,428 63 Pennsylvania RR. Co. 's Consolidated Mortgage Bonds, Sink- ing Fund Account 402,100 00 Sinking Fund First Mortgage Bonds, Sunbury, Hazleton and Wilkesbarre Railway absorbed by this Company April 1, 1902 5,000 00 EXTRAORDINARY EXPENDITURES. Amount expended in revision of grades and alignment, and for additional tracks, piers, yards, bridges, station and other terminal facilities, abolition ef grade crossings, and increase of equipment > 12,500,000 00 Cash dividend of 6 per cent 12,262,491 00- 25,299,019 63 Balance transferred to credit of Profit and Loss Account. . . . $550,943 61 Amount to credit of Profit and Loss Dec. 31, 1901 24,310,476 28 Less Amount charged off in adjustment of Sundry Accounts. $24,861,419 89 119,195 06 Amount to credit of Profit and Loss Dec. 31, 1902.. $24,742,224 83 9. Statement showing earnings, expenses and rentals of all lines operated directly by the Pennsylvania RR. Co. from 1865 to 1902, inclusive : • £ Gross turnings. Operating Rentals Expenses. Paid. Net Earn'gs to Penn. RR. Co. 3 £ Gross Earnings. Operating Expenses. Rentals P:.ki. Net Earn'gs to Penn. RR. Co. $ $ $ $ $ $ $ 1 1865 19,533,310 28 14,913,969 i\ 848,778 46 3,770,562 41 1884 48,566,917 84 30,527,016 02 8,592,606 66 9,447,295 16 1806 19,124,934 63 14,726,484 53 1,019,412 25 3,379,037 85 1885 45,615,033 55 29,479,764 84 8,530.931 69 7,004,337 02 1807 18,673,910 30 13,941,538 39 962,147 80 3,770,230 11 1886 50,379,077 00 32,619,594 61 8,935,245 73 8,824,236 66 1868 20,037,747 67 13,697,035 73 1,186,647 34 5,154,064 60 1887 55,671,313 13 37,086,584 80 9,130.177 95 9.448,550 38 1869 20,513,517 02 14.321,479 55:1,341,280 48 4,850,756 99 i 1888 58,172,077 66 39,331,153 14 9,008,649 23 9,232,275 29 1870 20,675,751 53 13,591,878 62 947,073 13 6,136,799 78 i 1889 61,514,445 11 41,096,805 64 10,042,171 73-10,375.407 74 1871 22,202,100 58 14,296,696 68 1,202,040 33 6.763,363 57 1890 66,202,259 83:44,980,554 67 10,421,046 18 10,800,058 98 1872 36,448,503 36 24,112,901 01 4,740,166 08 7,589,436 27 1891 67,426,840 81 45,947,444 62 10,482,132 76 10,997.203 43 1873 39,983,138 91 20,237,850 055,117,926 18 8,627,302 6S| 1892 68,841,844 70 «,819,861 30 1022S.271 91 9,794,211 55 1874 37,386,427 27 22,357,349 59 6,230,864 26 8,798,213 42 1893 66,375,223 83:46,990,017 28 9,971,695 04 9,407.510 91 1875 34,464,104 38 21,094,401 31 6,201,728 53 7,167,914 54 1894 58,704,284, 58 40,303,746 57 8,950,440 95 9,384,097 06 1876 36,891,060 99 22,081,229 34 6,308,828 92 8,501,002 73 1895 64,627,178 72 44,510.656 31 8,896,061 39 11,220461 02 1877 31,117,146 18 19,028,467 24 6,351,242 12 5,737,436 821 1896 62,096,502 60 43,4.59,326 91 8,824,103 09 9,81J.,012 66 1878 31,636,734 58 18.468,993 71 5,994,433 17 7,173,307 70 1897 64,223,113 15 43,257,020 59 9,718,430 42 11,247,056 14 1879 34,620.279 17 20,382,740 15 6,245,113 16 7,992,425 86 1898 65,603,737 95 44,510,015 85 10,315,771 90 10,777,950 20 1880 41.200,072 49 24,625,047 57 7,029,072 53 9,605,952 39! 1899 72,922,984 95 .50,344.033 04 11,320,448 82 11.257.902 49 1881 44,124,182 83 26,709,809 93 7,116,391 18 10.297,981 72 1900 88,539,827 21 58,099.206 02 12,224,520 34 18,216,100 85 1882 49,079,833 62 30.647,405 45 7,906,169 52 10,526.2.58 65 1901 101,329,795 22 65,259,543 08 14,043,144 34 21,427,107 80 1883 51,083,252 10 31,747,150 448,417,123 32 10,918,978 34 1902 112,663,330 13,75,051,071 17 11,005,948 17 26,006,310 79 POOR S MANUAL PENNSYLVANIA RR. CO. 703 1O. Statement of operations, traffic and revenues Pennsylvania RR. Division for seven years: 1896 1897 1898 1899 1900 1901 1902 Miles of Railroad 1,695.09 8,684,341 22,633,601 1,712.60 8,635,760 22,995,587 1,723.01 8,132,191 15.519,646 1,760.37 8,465,362 17,487,589 1,807.11 9,035,185 18,185,459 1,773.66 9.440,803 17,363,416 1,761.32 9,865,056 18,618,947 *Freight Train Miles *Total Train Mileage. . . . 31,317,942 18,014,779 343.269,927 42,161,635 23,241,573 5.558,485,412 * 6,927,838 970,602 715,785 28,190,849 556,511 31,631,347 17,061,650 332,252,125 47,630,820 26,144,830 6.248,596,176 $ 6,628,149 970,092 715,194 29,702,220 561,713 23,651,837 ' 18,275,569 369,543,736 51,550,639 28,325,618 6,833,638,350 25,952,951 19,887,703 415,784,992 61,526,176 33,386,356 8,109,571,545 27,220,644 21,402,972 450,715,976 64,439,342 36,690,041 8,726,402,614 26,804,219 22,704,985 481,336,031 67,215,700 37,001,478 8,721,579,078 28,484,003 24,605,597 560,544,368 77,505,061 Freight (tons) Moved Freight (ton) Miles 10,091,984,493 Passenger Earnings $ 7,290,246 971,440 753,648 29,651,949 609,512 $ 8,247,582 983,261 822,632 33.223,609 630,299 $ 9,180,256 1,000,465 897,926 42,070,575 685,114 $ 9,896,479 1,174,125 1,007,241 46,130,667 636,513 $ 11,573,596 1,348,832 1,126,468 53,623,870 614,286 Other Receipts 37,361,585 25,354,541 38,577,369 24,832,012 39,276,795 25,744,563 43,907,383 29,566,133 53,834,337 34,215,704 58,845,025 36,114,378 68,287,058 42,884,584 Gross Expenses 12,007,044 22,041 06 14,957 64 7,083 42 67.86 p.c. 13,745,356 22,525 61 14,499 59 8,026 02 64.37 p.c. 13,532,232 22,795 45 14,941 62 7,853 83 65.55 p.c. 14,341,249 25,159 52 16,941 79 8,217 73 67.34 p.c. 19,618,633 29,790 29 18,933 94 10,856 35 63.56 p.c. 22,730,646 33,177 17 20,361 50 12,815 67 61. 37 p.c. 25,402,475 38,770 39 24,347 98 14,422 41 62.80 p.c. Gross Earnings per Mile Gross Expenses per Mile * For the years 1898, 1899, 1900, 1901 and 1902, train mileage represents mileage of freight and passenger trains only — all helping, shifting, or work train mileage and mileage made by engines and cabooses without cars being excluded. 11. Statement of passenger operations of the Pennsylvania RR. Division for ten years ending Dec. 31, 1902: RR. Net Passen- Passengers AVER. PER MILE. Year. Oper- ated. Earnings. Earnings. Expenses. Earnings. gers Carried. Carried One Mile. Earn- ings. Ex- penses. Profit. M. S $ $ $ No. No. Cts. Cts. Cts. 1893 . . 1894 1,647 1,668 8,481,147 6,641,525 40,119,356 35,072,425 27,171,809 12,947,547 20,150,574 410,061,500 23,220,038 11,852,387 17,213,157 322,023,897 2.068 2.062 1.618 1.723 0.450 0.339 1895 .... 1,672 6,886,689 39,599,001 26,032,873J13,566,128 17,968,292 343,197,137 2.007 1.643 0.364 1896 .... 1,695 6,927,838 37,361,585 25,354,541112,007,044 18,014,779 343,269,927 2.018 1.644 0.374 1897 1,713 6,628,14938,577,369 24,832,013 13,745,356 17,061,656 332,252,125 1.995 1.622 0.373 1898 .... 1899 .... 1900 1,723 1,745 1,807 7,290,24639,276,794 8,247,582,43,907,382 9,180,256 53,834,337 25,744,563113,532,231 18,275,569369,543,736 29,566,133 ,14,341,249 19,887,703 415,784,992 34,215,704 19,618,633121,402,972450,715,976 1.973 1.984 2.037 1.432 1.414 1.496 0.541 0.570 0.541 1901 1,774 9,896,479 58,845,025 36,114,378!22,730,646 22.704,985 481,336,031 2.056 1.527 0.529 1902 1,761 11,573,59668,287,058 42,884,584 25,402, 175 1 24,605,597 ! 560,544,368 2.065 1.438 0.627 12. Statement of freight operations of the Pennsylvania RR. Division for ten years ending Dec. 31, 1902: Year. RR. Oper- ated. Freight Earnings. Total Earnings. Operating Expenses. Net Earnings. Tons Freight Moved. Tonnage Mileage. PER TON PEH MII,E. Earn- ings. Ex- penses. Net. 1893.... 1894.... 1895.... 1896.... 1*97.... 1898.... 1899.... 1900.... 1901.... 1902.... M. 1,647 1,668 1,672 1,695 1,713 1,723 1,74.5 1,807 1,774 1,761 $ 29,307,131 26,101,280 30,472,735 28,190,849 29,702,220 29,651,949 33,223,609 42,070,575 46,130,667 53,623,876 S 40,119,356 35,072,425 39,599,001 37,361,585 38,577,369 39,276,794 43,907,382 53,834,337 58,845,025 68,287,058 * 27,171,809 23,220,038 26.032,873 25,354,541 24,832,013 25,744,563 29,566,133 34,215,704 36,114,378 42,884,584 $ 12,947,547 11,852,387 13,566,128 12,007,044 13,745,356 13,532,231 14,341,249 19,618,633 22,730,646 25,402,475 No. 38,919,612 Miles. 5,284,654,957 CtS. 0.555 0.518 0.505 0.507 0.475 0.434 0.410 0.482 0.529 0.531 Cts. 0.389 0.351 0.338 0.355 0.311 0.299 0.292 0.315 0.330 0.345 Cts. 0.166 0.167 0.167 0.152 0.164 0.135 0.118 0.167 0.199 0.186 36,566,929 46,545,093 42,161,635 47,630,820 51,550,639 61,526,176 64,439,342 67,215,700 77,505,061 5,037,778,228 6,036,462,519 5,558,485,412 6,248,596,176 6,833,638,350 8,109,571,545 8,726,462,614 8,721,579,078 10,091,984,493 ?04 POOR'S MANUAL RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. 13. Statement showing passengers, mileage, earnings, expenses and averages on passenger business on all railroads operated directly by the Pennsylvania RR. Co., quin- quennially from 1865 to 1895, and annually thereafter (see MANUAL for 1902, page 656) : I Average Average Average Year. Miles of Railroad Passengers Carried. Passengers One Mile. Earnings. Earnings per Pas- Expenses. Expenses per Pas- Net Earn- ings per senger per senger per Passenger Mile. Mile. per Mile. Mties. No. Miles. » Cents. $ Cents. Cents. 1865.. 856.00 3,611,086 232,019,815, 6,376,079 14 2.748 4,303,071 37 1.855 0.893 1870.. 927.00 5,014,924 169,972,984! 4,364,481 43 2.568 3,611,554 05 2.125 0.443 1875.. 1,631.00. 14,456,864 344,234,876 8,857,619 67j 2.573 6,191,289 39 1.799 0.774 1880.. 1,875.61 16,575,042 382,787,186 8,504,387 22> 2.222 6,407,692 10 .674 0.548 1885.. 2,316.41 27,642,018 568,664,914 11,087,445 00 1.950 8,337,776 94 .466 0.484 1890.. 2,500.72 43,810,382 778,818,917 16,177,150 55 2.077 11,710,227 29 .504 0.573 1895. . 2,741.42 37,452,437 712,072,950 13,909,506 33 1.953 11,331,489 73 .591 0.362 1896.. 2,721.46 36,170,220 699,799,213 13,744,556 70 1.964 11,070,381 51 .582 0.382 1897. . 2,747.35 34,997,524 693,279,336i 13,506,671 28 1.948 10,729,968 01 .548 0.400 1898.. 2,755.71 35,962,566 745,962,6791 14,410,746 46 1.932 10,688,916 33 1.433 0.499 1899.. 2,803.81 38,029,922 823,304,623; 16,010,831 80 1.945 11,753,978 58 1.428 0.517 1900.. 3,647.94 41,922,569! 918,198,6021 18,181,081 77J 1.980 13,453,457 86 1.465 0.515 1901.. 3,671.24 46,698,595 1,050,463,693 20,928,395 37 1.992 15,563,611 29 1.482 0.510 1902.. 3,637.70 50,287,009 1,165,609,033 23,421,170 86 2.009 16,984,215 63 1.457 0.552 14. Statement showing tonnage, mileage, earnings, expenses and averages on freight business on all railroads operated directly by the Pennsylvania RR. Co., quinquennially from 1865 to 1895, and annually thereafter (see MANUAL for 1902, page 657) : Year. Miles of Railroad. Tons Moved. Tons One Mile. Earnings. Average Earnings per Ton Expenses. Average Expenses per Ton Average Net Earn- ings per per Mile. per Mile. Ton per Mile. Miles. No. Miles. $ Cents. S Cents. Cents. 1865.. 856.00 3,090,681 452,183,478 12,277,490 68 2.715 10,610,867 32 2.347 0.368 1870. . 927.00 7,041,688 1,014,652,970 15,252,314 99 1.503 9,971,625 98 0.983 0.520 1875. . 1,631.00 15,772,722 2,026,190,425 22,807,660 00 1.126 14,362,136 16 0.709 0.417 1880.. 1,875.61 26,051,091 3,239,482,799 29,750,291 99 0.918 17,490,054 88 0.540 0.378 1885.. 2,316.41 39,481,385 4,446,470,651 30,895,747 98 0.695 20,435,253 72 0.460 0.235 1890.. 2,500.72 66,648,730 6,994,332,633:45,783,597 23 0.655 32,404,558 91 0.463 0.192 1895. . 2,741.42 77,598,378 8,152,343,461 !45,922,018 18 0.563 '32,338,868 22 0.397 0.166 1896. . 2,721.46 72,322,609 7,707,883,205:43,500,713 27 0.564 31,521,301 55 0.409 0.155 1897. . 2,747.35 78,927,656 8,535,158,008:45,770,174 10 0.536 31,498,826 46 0.369 0.167 1898.. 2,755.71 84,220,747 9,214,565,495 45,939,773 48 0.499 32,744,026 12 0.355 0.144 1899. . 2,803.81 100,054,226 10,875,076,597151,395,733 16 0.473 37,376,428 13 0.344 0.129 1900.. 3,647.94 108,847,515 11,922,671,210 64,390,452 51 0.540 43,395,536 62 0.364 0.176 1901.. 3,671.24 121,699,340 12,696,352,464 73,899,939 16 0.582 48,391,006 19 0.381 0.201 1902.. 3,637.70 133,433,845 14,024,198,051 82,249,169 41 0.586 56,648,712 67 0.404 0.182 I 15. The combined operations of the anthracite coal properties controlled by the Pennsylvania RR. Co. for nine years ending Dec. 31, 1902, were as follows: Year. Gross Earnings. Operating Expenses. Excess of Expenses. Other Receipts. Gross Income. Deduc- tions. Balance, Deficit. 1894. . . $ 7,070,457 59 6,517,751 57 5,947,486 94 6,206,714 75 6,209,831 45 5,547,852 46 6,850,983 82 8,440,826 89 5,217,978 00 S 7,280,287 63 7,058,486 96 6,226,920 19 6,409,772 61 6,474,540 89 5,729,275 83 7,012,531 41 8,534,612 09 5,384,410 00 $ 209,830 04 540,735 39 279,433 25 203,057 86 264,709 44 181,423 37 161,547 59 93,785 20 166,432 00 S 302,964 22 380,648 62 324,498 93 289,619 44 260,672 90 21,752 72 21,891 50 21,341 14 21,099 85 S 93.134 18 d. 160,086 77 45,065 68 86,561 58 d. 4,036 54 d. 159,670 65 d. 139,656 09 d. 72,444 06 d. 145,332 21 % 421,643 95 377,940 92 336,206 90 331,293 91 186,976 30 295,818 23 312,318 85 373,451 58 233,968 65 S 328,509 77 538,027 69 291,141 22 244,732 33 191.012 84 455,488 88 451,974 94 445,895 64 379,300 86 1895 1896... 1897 1898 1899 1900. . 1901 1902 16. Dividends. — Since 1856 the Pennsylvania RR. Co. has paid cash dividends in every calendar year. The average yearly rate of dividends during the past 47 years is over 7 p. c. and resulted in the disbursement of over $223,000,000. Previous to 1856 POOR'S MANUAL — PENNSYLVANIA BR. CO. 705 interest at the rate of 6 p. c. per annum was paid on all stock subscription install- ments with the approval of the board of directors and the stockholders, and under authority conferred by the Legislature of the State of Pennsylvania. The dividends paid upon the capital stock in 1899 amounted to 5 p. c., and in addition thereto an allotment of 10 p. c. of the capital stock was declared, to which the stockholders were entitled to subscribe at par. (See GENERAL INDEX for table of DIVIDENDS PAID BY RAILROAD COMPANIES.) 17. Capital Stock. — The authorized amount of capital stock of the Pennsylvania RR. Co. on Dec. 31, 1901, as shown in the MANUAL for 1902, pages 658-659, was $251,- 700,000, divided into 5,034,000 shares of the par value of $50 each. Of these shares 4,065,442 of an aggregate par value of $203,272,100 were outstanding. During the year ending Dec. 31, 1902, shares amounting at par to $1,102,750 were issued, $978,950 par value thereof for the purpose of acquiring the stock of the Pennsylvania and North- western RR. Co., and the remaining $123,800 in payment for stock of the Philadelphia, Wilmington and Baltimore RR. Co. and in the conversion of dividend scrip. The total amount of capital stock outstanding on Dec. 31, 1902, was $204,374,850. 17 a. Additional Capital Stock Issued or Authorized.— On March 10, 1903, the stockholders voted authority for an increase of the capital stock to 8,000,000 shares of the par value of $50 per share, an aggregate par value of $400,000,000. In May, 1903, shares amounting at par to $20,903,300 were issued in exchange for $29,302,500 of the convertible gold bonds of 1902-1912 (see Sec. 27), and at about the same time shares amounting at par to $750 were issued on account of allotment of stock made in Jan., 1900, and shares amounting at par to $5,350 were issued to acquire stock of the Pennsylvania and North- western RR. Co.; making the total amount of capital stock issued up to May 9, 1903, $225,284,250. Under resolutions adopted at a meeting of the board of directors, held March 25, 1903, the stockholders of record May 9, 1903, got the privilege of subscribing for new stock to the extent of 33 */3 per cent, of their holdings, at the price of $60 per share, payments to be made in three installments due respectively in June, 1903, in Oct., 1903, and in June, 1904. The proceeds of the additional stock, amounting to $90,113,700 cash, will provide necessary capital for construction and equipment expenditures on the main and leased lines and branches, for the construction of new Hues in Pennsylvania and of the Tunnel Line in the city of New York, and for other purposes. In pursuance of action taken by the board of directors on June 10, 1903, shares amounting at par to $878,250 have been issued for the purpose of acquiring, on or before July 15, 1903, the $390,350 capital stock of the Pittsburgh, Virginia and Charleston Ry. Co. held by parties other than the Pennsylvania RR. Co., by issuing therefor 214 shares of the capital stock of the Penn- sylvania RR. Co. for each share of stock of the Pittsburgh, Virginia and Charleston Ry. Co. The following statement shows the amount of capital stock issued or to be issued as stated before : Outstanding Dec. 31, 1902, as per general balance sheet $204,374,850 Issued in April, 1903, in exchange for $29,302,500 convertible bonds 20,903,300 Issued on account of allotment of stock, Jan., 1900 750 Issued to acquire stock of Pennsylvania & Northwestern RR. Co 5,350 Issued or to be issued under resolution of Board of Directors, adopted March 25, 1903... 75,094,750 Issued to acquire the outstanding balance of capital stock of the Pittsburgh, Virginia and Charleston Ry. Co 878,250 Issued in June, 1903, in exchange for convertible 3J p. c. bonds 7,250 Total issued, or issue provided for, July 1, 1903 $301,264,500 18. Funded Debt. — The amount of bonded debt, including mortgages on real estate and ground rents, Dec. 31, 1902, was $140,619,856.91, being an increase of $51,726,533.34 during the year. Of this increase $50,000,000 represents the 3% per cent. 10-year con- vertible bonds bearing date Nov. 1, 1902, issued for the construction of the tunnel line to and under the city of New York, the erection of a passenger station in that city and for other purposes. The Sunbury, Hazleton and Wilkesbarre Ry. Co. and the Sunbury and Lewistown Ry. Co., two of the constituents of the Schuykill and Juniata 706 POOR'S MANUAL RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. RR. Co., having at the date of the absorption of that company by the Pennsylvania RR. Co., April 1, 1902, outstanding bonds to the amount respectively of $2,350,000 and $500,000, the same now appear upon the balance sheet. The Navy Yard bonds of the company for $1,000,000 having been cancelled, that reduction appears upon the balance sheet, and also a decrease of $94,466.66 in real estate mortgages and ground rents. The remaining $29,000 reduction represents consol. mtge. bonds redeemed by action of the sinking fund (see Sec. 19). 1 9. Sinking Funds. — Under the provisions of the consolidated mortgage, the sum of $402,100 was set apart out of the net income for the redemption of the outstanding bonds secured by that mortgage; $29,000 of the bonds issued thereunder were pur- chased and cancelled, and this reduction in funded debt appears in the balance sheet. The remainder of the sum was placed to the credit of the trustees of the sinking fund for investment under the terms of the mortgage. Their report shows the amount of $8,306,376.49, in securities and cash, in the fund for the redemption of the bonds. The trustees of the sinking fund for the redemption of the trust certificates issued for the purchase of the shares of the capital stock of the Philadelphia, Wilmington and Baltimore RR. Co. were not able to purchase any of these certificates during the year. The total amount purchased and cancelled to Dec. 31, 1902, was, therefore, $2,- 298,000, leaving outstanding $7,702,000. The trustees of the sinking fund for the redemption of the 4% p. c. collateral trust loan were also unable to obtain any of these securities during the year at the limit fixed in the agreement. The amount of this loan outstanding Dec. 31, 1902, was $9,900,000. Under the provisions of the 4 p. c. equipment trust gold loan, there was paid to the trustee during the year, for the sinking fund, the sum of $136,400. The trustee was unable to obtain any of the bonds at the price fixed in the lease, and, in accordance with the terms thereof, the amount has been invested in additional equipment. In pursuance of the terms of the first mortgage of the Sunbury, Hazleton and Wilkesbarre Ry. Co., securing $1,000,000 of bonds due May 1, 1928, the sum of $5,000 was paid to the trustee to be applied to the redemption of these securities. 20. Securities of Other Corporations. — The entire cost of the securities of other corporations held by the Pennsylvania RR. Co. Dec. SI, 1902, was $225,948,- 825.75. The increase over last year is due mainly to a larger holding of the common stock of the Baltimore and Ohio RR. Co., resulting from an allotment made by that company, to the purchase of the stock of the Pennsylvania and Northwestern RR. Co., to investment in the stock of the Pennsylvania, New York and Long Island RR. Co., which is building the tunnel extension under the city of New York, and to the acquisition of additional securities upon roads embraced in the system. The direct revenue received from securities during the year was $8,118,860.65, which amounted to 3% per cent, upon the cost thereof. 21. Car Trusts. — The issue of Car Trust securities made during the year consisted of $4,729,000 of certificates of Series "F," "G," "H," "I" and "K," Pennsylvania Equipment Trust, $10,000,000 of the Pennsylvania Steel Car Trust, being Series "A" to "K," and $590,000 of the Pennsylvania Steel Equipment Trust, all bearing interest at the rate of 3% p. c. per annum. There will thus be furnished for The Pennsyl- vania RR. Co. 4,000 box cars, 2,960 long gondolas, 3,000 steel gondolas; for the Penn- sylvania Co., 1,500 steel gondolas, 100 steel underframe long gondolas, 500 steel flat cars, 500 refrigerator cars; for the Pittsburgh, Cincinnati, Chicago and St. Louis Ry. Co. 300 steel gondolas, 400 steal underframe long gondolas; for the Grand Rapids and Indiana Ry. Co. 85 refrigerator cars; for the Cincinnati and Muskingum Valley RR. Co. 200 steel gondolas; an aggregate of 13,545 cars. The exceptional demand for equipment referred to in the MANUAL for 1902, page 660, continued throughout the year, and it was necessary to arrange for the building of 12,000 additional cars for POOR'S MANUAL — PENNSYLVANIA RR. CO. 707 the lines in the systems, the greater portion of which will represent an increase in the regular equipment east and west of Pittsburgh. The outstanding certificates of Series "A," "B," "C" and "D" of the Pennsylvania Rolling Stock Trust having matured during the year were paid and cancelled. These series covered 4,500 box, 54 long gondolas, 2,000 hopper gondolas, and 115 steel gondola cars in service on the Pennsylvania Railroad, representing in all 6,669 cars and a total cost of $4,000,000. These cars have therefore now become the property of The Pennsylvania RR. Co. The Car Trust Series in existence at the beginning of the year were: Pennsylvania Rolling Stock Trust, Series A, B, C, D, E, P, G, H, I, and K. Pennsylvania Car Trust Series A, B, C, D, E, F, G, H, I, and K. Pennsylvania Equipment Trust, Series A, B, C, D, E, and $271,000 of Series F. Those issued during the year were: Pennsylvania Equip. Trust, $4,729,000, being the remainder of Series F, and Series G, H, I, and K. Pennsylvania Steel Car Trust, Series A, B, C, D, E, F, G, H, I, and K. Pennsylvania Steel Equipment Trust, $590,000. The total amount of certificates issued under the said series of the above Car Trusts was $40,590,000 00 The payments made on account thereof during the year were as follows: Proportion Balance Total Applied to Applied to Payments. Payment of Redemption of Interest. Certificates. $ $ $ By the Pennsylvania RR. Co 2,559,580 04 578,755 66 1,980,824 38 By the Northern Central Ry. Co 23,501 59 5,175 34 18,326 25 By Allegheny Valley Ry. Co 38,248 32 8,422 74 29,825 58 By Western New York and Penn. Ry. Co 66,442 36 16,692 36 49,750 00 By Pennsylvania Co 459,852 41 155,828 15 304,024 26 By Pitts., Cincin., Chicago & St. Louis Ry. Co.. 264,03592 64,87539 199,16053 By Toledo, Peoria and Western Ry. Co. .' 22,717 07 4,628 07 18,089 00 By Grand Rapids and Indiana Ry. Co 2,693 12 2,693 12 By Cincinnati and Muskingum Valley RR. Co.. 4,853 65 4,853 65 Total .- 3,441,924 48 841,924 48 2,600,000 00 Payments made on acct. of the principal of these certif. prior to Jan. 1, 1902. . 6,600,000 00 Total payments made on account of the principal of existing series of Car Trusts $9,200,000 00 Amount of Car Trust certificates outstanding Dec. 31, 1902 $31,390,000 00 Issued for cars as follows: Cars. Bal. of Cost. Pennsylvania RR. Co 30,355 $22,543,918 03 Assigned and Sublet: Northern Central Ry. Co 270 128,283 75 Allegheny Valley Ry. Co 400 208,779 02 Western New York and Pennsylvania Ry. Co 500 447,750 00 Pennsylvania Co 5,900 5,312,644 36 Pittsburgh, Cincinnati, Chicago and St. Louis Ry. Co 3,510 2,300,700 76 Toledo, Peoria and Western Ry. Co ". 326 126,623 00 Grand Rapids and Indiana Ry. Co 85 97,325 00 Cincinnati and Muskingum Valley RR. Co 200 223,976 08 Total 41,546 $31,390,000 00 22. Summary of Capital Expenditures on Western System.-The following state- ment shows the amounts expended during the past year for construction, equipment, and real estate, on the lines west of Pittsburgh : Penn. Co. — Equipment. . . $34,415 60 Real Estate. . . 128,613 95— $163,029 55 Pittsburgh, Ft. Wayne & Chicago Ry. . .1,992,668 03 Erie & Pittsburgh RR 368,350 06 Cleveland & Pittsburgh RR 786,036 93 Western N. Y. & Penn. Ry.— Volant Br.. 162,732 56 Pittsburgh, Cin., Chicago & St. Louis Ry.2,005,682 23 Ohio Connecting Ry 416,299 80 Total amount expended for construction, equipment, and real estate during 1902 $6,682,892 72 23. Capital Stock and Funded Debt of Western System.— in pursuance of the agreement of Sept. 1, 1897, between the Pennsylvania Co., the Pennsylvania RR. Co. and the Girard Trust Co., under which provision was made for an issue Chartiers Ry $125,000 00 New Cumberland & Pittsburgh Ry 27,092 62 Little Miami RR 92,959 88 Cincinnati, Lebanon \vn, N. J. CONNECTING RY. — Mantua June, to Frank- ford, Pa., 6.75 m. ; Germantown June, to Chest- nut Hill, Pa., 6.75 m. ; Holme-^burg June, to Bustleton, Pa., 4.16 m. ; Tioga Street, Kensing- ton, to east of Tacony, Pa., 5.13 m. ; near North Penn. June, to Cambria Street, Phila , Pe., 3.55 m. ; near Allen Lane Station to near Fort Wash- ington, Pa., 6.27 m. ; sundry branches, 3.58 m. — total, 36.19 miles ; 2d track, 13.40 m. ; 3d track, 6.45 m. ; 4th track, 6.49 m. ; sidings, 44.80 m. — total track (steel, 56 to 100 Ibs. ; 104.80 m.), 107.42 miles. HISTORY. — Chartered April 4, 1863; road opened Jan. 1, 1868. Leased to the Philadelphia and Trenton RR. Co. Operated by the Pennsyl- vania RR. Co., at a yearly rental equal to 6 p. c. on cost of property. On Jan. 1, 1902, this road was consolidated with the Bustleton RR., Engel- side RR., Fair Hill RR., Kensington and Tacony RR., Philadelphia, Bustleton and Trenton RR., and Philadelphia, Germantown and Chestnut Hill RR., the consolidated company taking the name of Connecting Ry. Co. INCOME ACCOUNT, Dec. 31, 1902. — Rental, $267,536. Deductions : Expenses and taxes, $28,- 330 ; interest on bonds, $94,660 ; dividends (4 p. c.), $144,546 — total, $267,536. BALANCE SHEET, Dec. 31, 1902. — Capital stock ($50 shares), $3,613,650; funded debt, $1,991,- 000 ; unfunded debt, $41,791 ; accrued interest, $22,- 434 ; profit and loss, $5,019 — total, $5,673,894. Con- tra : Cost of road, etc., $5,666,882 ; cash and cur- rent assets, $7,012 — total, $5,673,894. FUNDED DEBT. — Funded debt outstanding on Dec. 31, 1902, consisted of $299,000 1st 6s due in yearly installments to Sept. 15, 1904; $588,000 ($5,- 000,000 auth.) refunding gold 3|s of Sept 35. 1932, and $1,000,000 P. G. & C. H. 1st gold 4Js of May 1, 1913. The 1st mtge. bonds and the P. G. & C. H. bonds are guaranteed, as to principal and Inter- est, by the Pennsylvania RR. Co. CORPORATE OFFICERS. — John P. Green, Pres. ; Lewis Neilson, Sec. ; Taber Ashton, Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. 722 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. FREEHOLD AND JAMESBURG AGRI- CULTURAL, RR — Jamesburg to Sea Girt, N. J., 27.54 m. ; total track (steel, 36.32 m.), 36.C6 miles. HISTORY. — Chartered June 29, 1852; road opened July 18, 1853. Consolidated, April 23, 1879, with the Farmingdale and Squan Village RR., 8.60 m., and the Squankum and Freehold RR. Leased to Penn. RR. Co. July 16, 1879 ; rental, net earnings. INCOME ACCOUNT. — Rental for year ending Dec. 31, 1902, $34,076. Expenses and taxes, $9,672. Net income, $24,404. Interest on bonds, $26,416; other charges, $6,600 — total, $33,016. Deficit for year, $8,611. BALANCE SHEET, Dec. 31, 1902. —Capital stock, $294,800 ; scrip, $800 ; funded debt ( sinking fund 6s of July 1, 1909, $319,000 ; cousol. 4s of July 1, 1909, $175,000), $494,000; certificates of indebted- ness (6 p. c.) convertible into bonds, ?i,600; sink- ing fund, $74,974 ; current liabilities, $27,641 — to- tal. S896.R15. Contra : Cost of road, etc., $807,726 ; sinking fund, $74,974 ; cash, $2,058 ; profit and loss, $12,057 — total, $896,815. (For statement of divi- dends paid in former years, see MANUAL, for 1893.) CORPORATE OFFICERS. — F. Wolcott Jack- son, Pres., Camden, -N. J. ; Samuel Rea, Vice- Pres. ; J. M. Harding, Sec. ; John M. Wood, Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. HARRISBURG, PORTSMOUTH, MOUNT JOY .AND LANCASTER RR Dillerville June, to Harrisburg, Pa., 34.49 m. ; Branch Inter- section to 2,920 feet west of Columbia Station, Pa., 18.15 m. — total, 52.64 m. ; 2d track, 52.64 m. ; 3d track, 10 m. ; 4th track, 10 m. ; total track (steel ; 85 Ibs.), 156.03 miles. HISTORY. — Chartered June 9, 1832; road, opened in 1838. Leased for 999 years from Jan. 1, 1861, the lessees to pay expenses, interest and 7 p. c. on stock. INCOME ACCOUNT. — Rental, year ending Dec. 31, 1902, $128,186 ; other receipts, $7,980 — total, $136,166. Expenses and taxes, $18,793. Net in- come, $117,373. Payments : Interest on bonds, $28,000; dividends (7J p. c.), $88,691 — total, $116,- 691. Surplus, $682. BALANCE SHEET, Dec. 31, 1902. — Capital stock ($50 shares), $1,182,550; funded debt (1st ext'd 4s of July 1, 1913), $700,000; accrued inter- est and dividends, $55,758 ; profit and loss, $165,- 512 — total, $2,103,820. Contra: Cost of road, etc., $1,881,210 ; stocks, $162,020 ; other assets, $60,590 — total, $2,103,820. CORPORATE OFFICERS. — John P. Green, Pres. ; Taber Ashton, Sec. & Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. JOHNSONBURG RR — Johnsonburg to Cler- mont, Pa., 19.69 m. ; Straight Creek Branch, 3.58 m. — total, 23.27 m. ; total track (steel; 60 Ibs.), 32.58 miles. The branch is operated by a lumber firm. HISTORY. — Chartered March 14, 1887; road opened in 18S9. Leased July 8, 1889, to the Penn- sylvania RR. Co. for 50 years ; rental, net earn- ings. INCOME ACCOUNT. — Rental, year ending Dec. 31, 1902, $8,915. Expenses and taxes, $1,373. Net income, $7,542. Paid interest on bonds, $12,000. Deficit, $4,458. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $200,000; funded debt (1st 6s of March 1, 1929 ) , $200,000 ; accrued interest, $4,000 ; profit and loss, $4,170 — total, $408,170. Contra : Ccst of road, $400,953 ; other assets, $7,217 — total, $408,170. CORPORATE OFFICERS. — Bayard Henry, Pres. , J. S. Vanzandt, Sec. & Treas., Philadel- phia, Pa. Office (office Penn. RR. Co.), Philadel- phia, Pa. LEWISBURG AND TYRONE RR Mon- tandon to B., N. & L. June., near Lemont, Pa., 57.60 in. ; Tyrone to Fairbrook, 19.90 m. • Scotia Branch (Fairbrook to Scotia), 5.30 m. ; Juniata Branch (Juniata June, to Juniata), 2.08 m. ; Lewisburg Bridge, 0.24 m. — total, 85.12 m. ; total track (steel, 86.17 m.), 95.78 miles. Rail, 45 to 70 Ibs. HISTORY. — Chartered as Lewisburg Centre and Spruce Creek RR., Jan. 18, 1853 ; opened in 1872. Extension and branches opened in 1881. Re- orsani?ed under present title, Dec. 31, 1879, and leased Jan. 1, 1880, for 99 years to the Penn. RR. Co. Operated as a branch of Phila. and Erie RR. Rental, net earnings. INCOME ACCOUNT. — Rental for year ending Dec. 31, 1902, ?1,453. Expenses and taxes, $5,682. Loss from operations, $4,229 ; add interest on de- benture certificates, $14,709 — deficit for year, $18,- 938 BALANCE SHEET, Dec. 31, 1902. — Capital stock, $1,200,000; funded debt (5 p. c. debenture certificates of Dec. 31, 1897), $294,175; unfunded debt, $23,114 ; profit and loss, $50,130 — total, $1,567,418, representing cost of road, etc. CORPORATE OFFICERS. — Samuel Rea, Pres. ; James R. McClure, Sec. ; J. S. Vanzandt, Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. MOUNT HOLLY, LUMBERTON AND MEDPORD RR. — Mount Holly to Medford, N. J., 5.95 m. : total track (steel, 6.56 m.), 6.99 miles. HISTORY. — Chartered April 2, 1866. Road opened Dec. 20, 1868. Leased to and operated by the Penn. RR. Co. since 1873. INCOME ACCOUNT. — Rental, year ending Dec. 31, 1902, $2,903, being dividends (6 p. c.) on $45,050 capital stock, 'and $200 for organization expenses. FINANCIAL STATEMENT. — Capital stock, $95,650; funded debt (1st 7s of April 1, 1839), $75,- 000 — total, representing cost of road, $170,650. Funded debt matured ; owned by the Penn. RR. Co. CORPORATE OFFICERS. — Wm. Bettle, Pres. ; Samuel Rea, Vice-Pres. ; F. W. Schwarz, Sec. ; John M. Wood, Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. PHILADELPHIA AND BEACH HAVEN RR. — Manahawkin to Beach Haven, N. J., 12.09 m. ; total track (steel), 14.54 miles. HISTORY. — Organized as Long Beach RR. Co., Oct. 23, 1883. Sold under foreclosure, Nov. 28, 1893, and reorganized under the present title. Leased to the Penn. RR. Co. ; rental, net earn- ings. BALANCE SHEET, Dec. 31, 1902. — Capital stock ($50 shares) paid in, $200,000; other liabili- ties, $148,996 — total, $348,996. Contra : Cost of road, $200,000 ; profit and loss, $148,990 — total, $348,996. CORPORATE OFFICERS. — Samuel Rea, Pres., Camden, N. J. ; F. W. Schwarz, Sec. ; John M. Wood, Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. PHILADELPHIA AND ERIE RR Sun- bury to Erie, Pa., 287.56 m. ; branches, 19.45 m. — total, 307.01 m. ; 2d track, 123.37 m. ; total track (steel, 634.26 m.), 644.33 miles. Rail, 56 to 85 \bf. Chartered April 3, 1837, as Sunbury and Erie RR. Co. ; construction commenced in 1852 ; whole line opened Oct. 4, 1864. Leased to Penn. RR. Co. for 999 years from Jan. 1, 1862 ; rental, net revenue. INCOME ACCOUNT, year ending Dec. 31, 1902. — Net earnings (see page 723), $2,144,252; other receipts, $36,351 — total, $2,180,602. Payments : In- terest on bonded debt, $1,019,150 : on valuation of equipment furnished by lessee, $130,018 ; taxes, $70,26S ; maintenance of organization, $8,000 — to- tal, $1,227,436. Net income $953,166 from which de- duct extraordinary expenditures for 1902, $450,- 000 ; balance, $503,166, out of which was paid in- terest of 7 p. c. on special guaranteed stock, $168,- POOR S MANUAL PENNSYLVANIA RR. SYSTEM. 723 000; dividends (4 p. c.) on common stock, $319,400 — total, $487,400 ; leaving surplus for year, $15,- 766. Surplus forward ($622,338 less amount charged off account depreciation in value of rails uaed on tributary lines, and in adjustment of sundry accounts, $5,595), $616,743 — total, to credit of profit and loss, Dec. 31, 1902, $632,509. Statement of operations, etc., Philadelphia and Erie RR., for seven years ending Dec. 31 : 1896 1897 1898 1899 1900 1901 1902 Miles of Railroad 301.62 721,269 1,909,321 1,174,953 25,123,174 10,472,600 963,934,570 $ 600,900 3,765,352 146,199 301.62 741,322 2,003,718 1,098,896 24,755,558 10,613,867 1.040,487,912 $ 581,175 3,860,583 159,499 301.62 766,159 1,923,613 1,063,830 25,989,696 11,211,164 1,082,187,852 $ 600,375 3,810,888 163.180 301.62 766,554 2,107,030 1,108,087 27,169,180 13,577,341 1,250,233,683 $ 632,521 4,554,786 160,722 304.87 779,907 2,004,391 1,243,876 31,409,051 13,418,059 1,204,071,950 $ 736,440 4,921,410 166,777 304.80 992,764 2,023,010 1,431,262 45,723,676 14,034,814 1,238,687,357 $ 985,899 5,625,439 178,352 307.01 1,015,739 1,970,018 1,511,350 43,401,387 13,040,800 1,078,029,445 $ 962,199 5,265,737 195.256 Freight Train Miles Freight (ton ) Miles Total 4,512,511 3,229,534 4,601,257 3,300,501 4,574,443 3,197,493 5,348,029 3,621,317 5,824,626 3.677,966 6,789,690 4,011,294 6.423,192 4,278,940 Net Earnings 1,282,977 14,960 92 10,707 30 4,253 62 71.57 p.c. 2.39 c. 0.39 c. $ 7,985,000 2,400,000 19,799.000 31,942 1,300,756 15,255 15 10,942 58 4,312 57 71. 73 p.c. 2.35 c. 0.37 c. $ 7,985,000 2,400,000 19,823,000 *391,226 1,376,950 15,166 25 10,601 07 4,565 18 69.90 p.c. 2.31 c. 0.35c. $ 7,985,000 2,400,000 19,823,000 *391,576 72,000 1,726,712 17,731 02 12,006 22 5,724 80 67.7 p.c. 2.33 c. 0.36 c. S 7,985,000 2,400,000 19,823,000 *392,326 144,000 150,000 400,563 2,146,660 19,105 28 12,064 05 7,041 23 63.1 p.c. 2.35 c. 0.41 c. $ 7,985,000 2.400,000 19,823,000 *392,026 244,000 500,000 470,881 2,778,396 22,275 88 13,160 41 9,115 47 59.1 p.c. 2.16c. 0.45 c. S 7,985,000 2,400,000 19,823,000 *466,971 305,130 400,000 622,338 2,144.252 20,921 77 13,937 46 6,984 31 66.6 p.c. 2.22 c. 0.49 c. $ 7,985,000 2,400,000 19,823,000 *393,482 235,146 Gross Earnings per Mile Operating Expenses per Mile. . . . Av. Rate per Pass, per Mile Av Rate per Ton per Mile Common Stock Special Stock Funded Debt Bills Accounts etc Renewal Fund Extra Expense Fund 684,786 318,760 303,924 632,510 Total Liabilities 30,900,728 30,466,182 30,021 404,525 30,917,980 30,466,182 29,963 421,841 30,975,500 30,466,182 29,963 407,355 72,000 31,294,889 30,466,182 29,963 504,744 144,000 150,000 - 31,814,907 30,466,182 29,963 574,763 244,000 500,000 32,002,439 30,466,182 28,963 802,164 305,130 400,000 31,469,138 30,466,182 28,963 738,847 235,146 Construction Cash and Other Assets Cash to Credit Renewal Fund . . . Cash to Credit Extra Exp. Fund . Total Assets 30,900,728 30,917,986 30,975,500 31,294,889 31,814,907 32,002,439 31,469,138 * Includes interest accrued on bonds to Dec. 31, $?84,987.5'~>. General Balance Sheet, December 31, 1902. Capital Stock — Common ($50 shares). $7,985,000 00 Capital Stock — Special ($50 shares).. 2,400,000 00 Funded Debt (see below) 19,823,00000 Int. on Bonds, Matured and Uncol 1,260 00 Dividends Uncollected 2,016 00 Int. Accrued on Bonds to Dec. 31, 1902. 384,987 50 Individuals and Companies 5,218 BO Renewal Fund 235,14636 Profit and Loss 632.509 41 Total Liabilities $31,469,13777 Cost of Construction $30,466,182 05 Securities of Other Companies 28,96250 Rails used by Tributary Lines Under Agreement 22,136 14 Cash 298,13437 Cash on Deposit with Penna. RR. Co. to Pay Int. on Bonds Due Jan. 1, 1903 261,660 00 Cash to Credit of Renewal Fund 235,146 36 Construction and Equipment Sus- pense Account 156,916 35 Total Assets $31,469,137 77 CAPITAL STOCK. — Special stock is entitled to 7 p. c. per annum before dividends can be paid on common stock. Voting power attaches to stock after 30 days' ownership. FUNDED DEBT.— Funded debt outstanding Dec. 31, 1902, consisted of (1) $8,680,000 gen. gold 6s of July 1, 1920; (2) $5,263,000 gen. gold 5s of July 1, 1920, and (3) $5,880,000 gen. reg. 4s of July 1, 1920 — total, $19,823,000. The gen. mtge. is for $20,000,000. Principal and interest of the bonds are guaranteed by the Penn. RR. Co. MANAGERS, P. & E. RR. Co. (elected Feb., 1903). — By stockholders: Samuel Gustine Thomp- son, N. Parker Shortridge, Samuel Rea, William L. Elkins, Amos R. Little, Bayard Henry, Will- iam H. Barnes, John P. Green, John H. Gather- wood, George Wood. By Philadelphia City Coun- cil : James Elverson, Joseph W. Gross, "W. S. P. Shields. Officers : N. Parker Shortridge, Pres. ; J. S. Vanzandt, Sec. & Treas., Philadelphia, Pa. Office (office Penn. RR. Co.), Philadelphia, Pa. PHILADELPHIA AND LONG BRANCH RR. — Birmingham to Bay Head June., N. J., 46.09 m. ; Island Heights June, to Island Heights, N. J., 1.18 m. ; Junction to Brown's Mills, N. J., 1.80 m. — total, 49.07 m. ; total track (steel, 53.16 m.), 54.71 miles. Rail, 56 to 70 Ibs. HISTORY. — Consolidation, Oct. 13, 1883, of the 724 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. Philadelphia and Long Branch Ry., and the Pem- berton and Seashore RR. The Island Heights RR. was absorbed in June, 1885. Leased to the Penn. RR. Co. for 50 years from Jan. 1, 1884 ; rental, net earnings. INCOME ACCOUNT. — Deficit from operations, year ending Dec. 31, 1902, $28,155 ; add interest on bonds, $37,500; expenses and taxes, $8,257 — total deficit, $73,912. BALANCE SHEET, Dec. 31, 1902.— Capital stock, $765,000 ; funded debt ( consol. 5s of Dec. 1, 1913; $900,000 auth.), $750,000; unfunded debt, $451,972 — total, $1,966,972. Contra : Cost oi road, $1,545,134; profit and loss, $421,838 — total $1,966,- 972. CORPORATE OFFICERS. — Samuel Rea, Pres. ; F. W. Schwarz, Sec. ; John M. Wood. Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. PHILADELPHIA AND TRENTON RR Morrisville to Frankford, 23.66 m. ; Kensington Br., 2.84 m. — total, 26.50 m. ; 2d track, 26.50 m. ; 3d track, 25.88 m. ; 4th track, 23.66 m. — total track (steel, 131.97 m.), 135.89 miles. HISTORY. — Chartered June 9, 1832; road opened 1834, and from 1836 operated under traffic contract by the C. & A. RR. Co. In 1871 it was leased in connection with the United New Jersey RRs. to the Penn. RR. Co., and has since been operated as a part of the New York Div. INCOME ACCOUNT. — Rental, year ending Dec. 31, 1902, $73,215. Payments: Taxes, $23,805; dividend (10 p. c. on $494,100 stock), $49,410 — total, $73,215. BALANCE SHEET, Dec. 31,1902.— Capital stock, $1,259,100; unfunded debt, $3,453,204; profit and loss, $703,554 — total, $5,415,858. Contra: Cost of road, $5,311,202 ; stock and other investments, $104,656— -total, $5,415,^58. CORPORATE OFFICERS. — John P. Green, Pres. ; J. R. McClure, Sec. ; John M. Wood, Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. PITTSBURGH, VIRGINIA AND CHARLESTON RY — Pittsburgh to West Brownsville, Pa., 53.20 m. ; branches, 32.39 m. — total, 85.59 m. ; 2d track, 55 m. ; 3d track, 18.69 m. ; 4th track, 5.21 m. — total track (steel), 247.79 miles. Rail, 56 to 70 Ibs. HISTORY. — Chartered Feb. 4, 1870, and road opened in 1873. Consolidated with the Browns- ville RR. Co. in 1881. (See MANUAL for 1892.) In 1894 the McKeesport and Bessemer RR., the Monongahela River and Streets Run RR., and the Brownsville and State Line RR. were consoli- dated with this road. Operated by the Penn. RR. Co., under lease for 30 years from April 1, 1895 ; rental, net earnings. INCOME ACCOUNT. — Rental, year ending Dec. 31, 1902, $1,128,841 ; other receipts, $6,614 — total, $1,135,455. Expenses and taxes, $660,992. Net in- come, $474,463. Payments : Interest on bonds, etc., $210,395; dividends (7 p. c.), $264,06X — total, $474,463. BALANCE SHEET, Dec. 31, 1902. — Capital stock ($50 shares), $3,772,400; funded debt (1st mtge. Series A 4Js of April 1, 1925), $3,431,000; 4 p. c. certificates of indebtedness, $3,270,000 ; other debt, $75,309 ; other liabilities, $39,194 ; profit and loss, $535,513 — total, $11,123,416. Contra : Cost of road, etc., $10,651,436 ; other assets, $471,980 — total, $11,- 123,416. CAPITAL STOCK. — In June, 1903, the Pennsyl- vania RR. Co., being the owner of $3,382,050 of the capital stock, offered the holders of the remaining $390,350, two and one-quarter shares of capital stock of the Pennsylvania RR. Co. for each share of their stock. FUNDED DEBT. — The authorized amount of consols is $6,000,000, to be issued in two series — A, for $4,000,000 ($3,431,000 outstanding; all held by P. RR. Co.), and B, for $2,000,000. Bonds of Series B may bear a different rate of interest and mature at a different date from Series A. Additional amounts of the bonds may be issued from time to time as required for extensions, betterment? and acquisition of property. CORPORATE OFFICERS. — Samuel Rea, Pres. ; F. W. Schwarz, Sec. ; Taber Ashton, Treas., Phil- adelphia, Pa. Office, Broad Street Station, Phila- delphia, Pa. POMEROY AND NEWARK RR Pom- eroy, Pa., to Newark (P., B. & W. RR.), Del., 26.7 m. ; total track (steel, 28.71 m.), 28.71 miles. Rail, 52 to 70 Ibs. HISTORY. — Formerly Pa. & Del. RR Sold Feb. 9, 1879, and became Pomeroy and State Line RR. Reorganized under present title Dec. 23, 1881. Op- erated by the Penn. RR. Co. under a lease for 99 years, dated March 1, 1880, net results going to lessor. INCOME ACCOUNT. — Loss from operations year ending Dec. 31, 1902, $15,200. Expense? and taxes, $1,595. Total deficit for year, $16,795. BALANCE SHEET, Dec. 31. 1902. — Capital stock ($50 shares), $500,000; unfunded debc. $277,- 890 — total, $777,890. Contra : Cost of road, etc., $502,056; profit and loss, $275,834 — total, $777,890. CORPORATE OFFICERS. — John P. Green, Pres. ; E. H. Pyle, Sec. & Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. RIDGWAY AND CLEARFIELD RR Ridgway, Pa., to Falls Creek, Pa., 27.23 m. . total track (steel, 36.53 m.), 36.81 miles. Rail, 60 and 70 Ibs. HISTORY.— Chartered April 20, 1882; road opened in 1885. On Nov. 1, 1894, leased for 50 years to the Penn. RR. Co. for interest on bonds, taxes, sinking fund, organization expenses, and 6 p. c. dividends on stock if earned. INCOME ACCOUNT. — Rental, year ending Dec. 31, 1902, $57,934. Expenses and taxes, $3,924. Net income, $54,010. Payments : Interest on bonds, $24,550; dividends (6 p. c.), $29,460 — total, $54,010. BALANCE SHEET, Dee. 31, 1902. — Capital stock, $491,000 ; funded debt ( 1st mtge. reg. 5s of Nov. 1, 1923; $1,000,000 auth.), $491,000; unfunded debt, $4,092 ; profit and loss, $14,559— total, $1,000,- 651. Contra : Cost of road, $987,503 ; other assets, $13,147 — total, $1,000,651. CORPORATE OFFICERS. — Samuel Rea, Pres. ; F. W. Schwarz, Sec. ; J. S. Vanzandt, Treas., Philadelphia, Pa. Office (office Penn. RR. Co.), Philadelphia, Pa. ROCKY HILL ER. AND TRANSPORTA- TION CO Rocky Hill to Kingston, N J., 2.38 m. ; total track (steel, 3.36 m.), 3.49 miles. Rail, 56 to 67 Ibs. HISTORY. — Chartered Feb. 17, 1853; road opened in 1864. Leased in perpetuity in 1S69 to C. & A. RR. Co. and transferred to Penn. RR. Co. Rental, 6 p. c. on capital stock. BALANCE SHEET, Dec. 31, 1902. — Capital stock, $45,600 ; profit and loss, $54 — total, repre- senting cost of road, etc., $45,654. CORPORATE OFFICERS. — F. Wolcott Jackson, Pres., Newark, N. J. ; Leroy H. Anderson, Sec., Trenton, N. J. ; Stephen Voorhees, Treas., Rocky Hill, N. J. Offices, Rocky Hill, N. J., and Tren- ton, N. J. SOUTHWEST PENNSYLVANIA RY June, near Greensburg to Fairchance, Pa., 44.79 m. ; branches, 79.85 m. — total, 124.64 m. ; 2d tracjc, 30.57 m. ; total track (steel), 235.26 miles. HISTORY — Organized in 1871 ; road opened in 1873. Leased April 1, 1873, to Penn. RR. INCOME ACCOUNT. — Rental, year ending Dec. 31, 1902, $528,966; other receipts, $2,927 — total, $531,893. Expenses and taxes, $307,995. Net in- come, $223,898. Payments : Interest on bonds, $63,000; dividends (10 p. c.), $149,990 — total, $212,- 990. Surplus, $10,908. BALANCE SHEET, Dec. 31, 1902. — Capital stock (auth., $3,000,000; $50 shares), $1,499,900; funded debt (1st 7s of Feb. 1, 1917), $900,000; other liabilities, $126,214; profit and loss, $457,440 — to- tal, $2,983,554. Contra: Cost of road, etc., $2,690,- 783 ; other assets, $292,771 — total, $2,983,554. CORPORATE OFFICERS. — Chas. E. Pugh, POOR S MANUAL — PENNSYLVANIA RR. SYSTEM. 725 Pres. ; F. W. Schwarz, Sec. ; Taber Ashton, Treas., Philadelphia, Pa. Office, Broad Street Station, Philadelphia, Pa. I \ITED NEW JERSEY RR. AND CANAL COS. — Jersey City to Trenton, N. J., 56.54 m. ; South Amboy to Camden, N. J., 61.22 m. ; branches, 27.15 m. — total, 144.91 m. ; 2d track, 98.25 m. ; 3d track, 55.85 m. ; 4th track, 56.04 m. ; sidings, 305.11 m. — total track (steel, 621.15 m.), C60.16 miles. Canal owned : Bordentown to New Brunswick, and feeder, 66 miles. The United New Jersey Railroads, extending from Camden to Am- boy, and from Trenton to Jersey City, with branches and connections, a distance of 468.79 miles ; Hudson River Ferries, 1 mile and canal from Bordentown to New Brunswick and feeder, 66 miles, are operated as the United Railroads of Now Jersey Division of the Pennsylvania RR. Co. HISTORY. — The Delaware and Raritan Canal Co. and tho Camden and Amboy RR. Co. were both chartered Feb. 4, 1830, the former to con- struct a canal to connect the Delaware and Rari- tan Rivers, and the latter to build a railroad from the Delaware River to Raritan Bay. In. Feb., 1831, an act was passed authorizing the consoli- dation of the capital stocks of these two com- panies ; they were thus practically consolidated, although nominally distinct corporations. Their affairs were managed jointly by the directors of both, and they were to share equally in profits. Under this joint management the construction of the works was begun. The main lines of the rail- road and canal were completed In 1834, and the branches in 1838. In 1S36 the Joint companies ac- quired a controlling interest !n the stock of the Philadelphia and Trenton RR. Co., and entered into an agreement with that company for an equal division of their joint profits. In Jan., 1867, an agreement was entered into between the United Cos. and the New Jersey RR. aui Trans- portation Co., which owned the line between New Brunswick and Jersey City, forming a link in the through New York-Philadelphia route, for a consolidation of interests ; and under this agree- ment the profits were equally divided between the four companies — the Delaware and Raritan Canal Co., the Camden and Amboy, the New Jersey, and the Philadelphia and Trenton Ry. Cos. On June 30, 1871, the entire property was leased to the Pennsylvania RR. Co. for 999 years, the lessee receiving all assets and assuming all obligations, and guaranteeing to' the United Cos. an annual rental equal to 10 p. c. on the aggregate capital stock, and an equal rate of dividends to the Philadelphia and Trenton. INCOME ACCOUNT, year ending Dec. 31, 1902. — Gross earnings, including Delaware and Rari- tan Canal, $26,582,639 ; expenses, railroad and canal, $18,840,271 ; net earnings, $7,742,368. Add interest from investments and other incomo, $253,- 543 — total income, $7,995,911. Paid interest on bonds, on mortgages, and ground rents, organiza- tion expenses, etc., 10 p. c. dividends (paid Jan., April, July and Oct.), $7,937,249. Net profit to lessee, $58,661. BALANCE SHEET, Dec. 31, 1902. — Capital stock ( including fractional installments out- standing, $227.50; premium, $750,000), $21,990,- 627; funded debt (including overdue bonds), $20,001,625 ; bonds and mortgages, $463,143 ; ad- vanced by Penn. RR. Co., $197,682 ; expended by Penn. RR. Co., real estate, construction, etc. (net), $16,712,262; premiums and discount. $46,- 848 ; balance of assets over liabilities, $472,455 — total, $59,884,612. Contra : Cost of railroads, canals, real estate, equipment, etc., $52,895,485 ; stocks, $4,320,649 ; bonds, $1,105,600 ; advances, $494,136 ; other properties, $380,777 ; cash and cash items, $509,821 : due by Penn. RR. Co., $178.174 — total, $59,884,642. Statement of operations, etc., United RR. N. J. Division for seven years ending Dec. 31, 1902 : 1896 1897 1898 1899 1900 1901 1902 Railroad. Miles of RR. and Ferries 458.04 5,907,027 5,442,313 16,257,575 321,406,154 15,796.716 886,030,519 6,741.654 9,852,277 1,417,745 466.42 5,877,851 5,563,908 16,098,257 326,075,553 16,515.063 947,044,984 $ 6,845,883 10,439,561 1,489,835 466.55 5,947,774 5,816,670 15,926,889 339,983,570 17,630,716 1,007,395,359 $ 7,196,360 10,814.963 1,545,760 470.13 6,289,015 6,288.614 16,281,355 369,164,938 20,574,346 1,168,689,942 $ 7,806,801 11,903,271 1,665,370 467.98 6,623,859 6,384,788 17065019 468.31 6,799,999 6,788,972 17 980 414 469.79 7,065,757 7,220,885 19,542,934 456,254,479 24,499,420 1,409,601,524 $ 9,597,180 14,670,251 1,981,141 Passengers Carried 389,849,818 21,575,297 1,222,458,555 $ 8,248,467 12,971,694 1,800,161 405,996,255 22,342,515 1,297,953,799 $ 8,597,223 13,597,334 1,863,278 Freight (tons) Moved Freight (ton) Miles 18,011.676 13,256,570 18,775,279 13,635,483 19,557,083 14,070,691 21,375,442 15,506,135 23,020,322 16,028,423 24,057.835 16,973,581 26,248,572 18,455,504 4,755,106 39,323 37 28,941 95 10,381 42 76.38 p.c. 1.808 c. U12c. $ 106,194 149 254 5,139,796 40,254 02 29,234 34 11,019 68 72.62 p.c. 1.864 c. 1.102 c. $ 102,878 128,620 5,800 5,486,392 41,918 52 30,159 02 11.759 50 71.95 p.c. 1.852 c. 1.074 c. $ 100,299 152,473 6,370 5,869,307 45,467 09 32,982 65 12,484 44 72.54 p.c. 1.867 c. 1.019 c. $ 100,885 178,707 5,476 6,991,899 49,190 82 34,250 23 14,940 59 69.63 p.c. 1.872 c. 1.061 c. $ 97,634 190,723 8,513 7,084,254 51,371 60 36,244 33 15,127 27 70.55 p.c. 1.877 c. 1.048 c. $ 88,335 176,365 8,053 7,793,068 55,872 99 39,284 58 16,588 41 70.31 p.c. 1.882 c. 1.041 c. S 86,053 239,063 8,951 Net Earnings per Mile Av. Rate per Pass, per Mile Canal. Tolls Steam Towing, etc 5,434 260,882 70,793 86,367 135,684 237,298 00,771 81,809 132,690 259,142 65,705 83,601 148,414 285,068 76,431 86,802 180,268 296,871 64,939 87,819 179,048 272,753 74,067 82,945 174,637 334,067 93,604 84,642 206,522 Maintenance Steam Towing Gross Expenses 292,845 275,270 297,720 343,501 331,805 331,649 384,768 Net Earnings D. 31,963 D. 37,972 D. 38,578 D. 58,433 D. 34,934 D. 58,896 D. .50,701 * Includes helping, empty and shifting. 726 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. Expenditures for additions and improvements by lessees since 1871 : Before 1896 1896 1897 1898 1899 1900 1901 1902 Construction . ... $ 14,530,285 2,790,804 2,778,725 1,106,445 $ 257,782 19,917 27,650 1 153,133 44,661 12,557 $ 218,020 38,794 $ 552,435 440,021 114,899 10 S 533,855 71,902 73,402 10,457 S 1,034,224 88,708 238,277 120,413 * 3,543,236 93,660 188,336 8,186 Real Estate Harsimus Cove Construction .... Harsimus Cove — Right of Way and Real Estate Totals 2,553 21,206,259 305,349 210,351 259,367 1,107,365 689,615 1,481,622 3,833,418 The total to Dec. 31, 1902, has been expended as follows : For construction, general, $19,779,710 ; for real estate, general, $3,467,381 ; for right of way and real estate, Harsimus Cove, $1,214,641 . con- struction, Harsimus Cove property, $3,387,984 — total cost of construction, real estate, etc., $27,- 849,716. The amount obtained from sale of bonds, equipment, real estate, etc., was $8,137,454 ; stock issued to Pennsylvania RR. Co., $3,000,000 — total, $11,137,454. Debit balance Jan. 1, 1903, $16,712,262. FUNDED DEBT outstanding (total, $20,000,000) consisted Dec. 31, 1902, of the following issues (further particulars are in the Ready Reference Bond List — see General Index) : $841,000 gen. mtge. gold 6s of Sept. 1, 1908. 1,824,000 gen. mtge. gold 4s of Feb. 1, 1923. 6,020,000 geu. mtge. gold 4s of Sept. 1, 1929. $5,646,000 gen. mtge. gold 4s of Mar. 1, 1944. 5,669,000 gen. mtge. gold 31s of Mar. 1, 1951. Interest on bonds payable at the agency of the company in Philadelphia, and at the National Bank of Commerce in New York. Coupon bonds may be registered in New York by the Farmers' Loan and Trust Co. ; in Philadelphia by S. E. Dickey, at the office of the Pennsylvania RR.Co.. and in London by the Joint Stock Bank, Limited. Of the bonds issued under the mortgage ot April 20, 1871, $5,669,000 bearing 6 p. c. interest matured March 1, 1901, and were retired by the issue of a like amount of 31 p. c. bonds, secured by the same mortgage and maturing March 1, 1951. This mortgage is the only lien upon the property, and under its provisions the amount of bond* out- standing cannot exceed $20,000,000. Statement of income (U. RR. of N. J. Div.) and capital accounts (U. N. J. RR. & C. Cos.), seven years ending Dec. 31, 1902 : 1896 1897 1898 1899 1900 1901 1902 Net Earnings, RR. . . Net Earnings, Canal. Int. from Invest., etc. Total Income S 4,755,106 def. 31,963 320,435 $ 5,139,795 def. 37,972 231,195 $ 5,486,392 def. 38,578 225,631 ? 5,869,307 def. 58,433 253,884 6,991,899 def. 34,934 245,188 $ 7,084,254 def. 58,896 255,170 $ 7,793,069 def. 50,701 253,543 5,043,579 2,173,450 10,000 930,200 80,000 48,700 78,164 656,132 404,899 906 221,704 5,333,018 2,173,450 10,000 930,200 80,000 50,776 94,912 820,664 398,336 903 293,056 5,673,445 2,173,450 10,000 930,200 80,000 52,426 94,497 928,185 417,160 880 473,835 6,064,758 2.173,450 10,000 930,200 80,000 51,000 94,605 1,049,324 469,801 1,087 1,051,331 7,202,152 2,173,450 10,000 930,200 80,000 51,318 ' 104,000 1,035,932 451,193 1,483 2,027,442 7,280,529 2,173,450 10,000 859,337 80,000 58,436 97,091 1,034,164 467,833 1,243 2,307,351 7,995,911 2,173,450 10,000 788,475 80,000 90,637 875,483 424,348 2,198 3,492,658 Dividends (10 p.c.). . Organi/., Sal., etc . . . Int. on N. J. Loans . . *Int. on Pa. RR. 4s... Int. on Adv. Con.Ry. Int. Mtges. & Rents . Div.,Int., $1,- 000,000; funded debt (1st consol 5s of Oct. 1, 1935), $1,726,000; mortgage on real estate (5 p. c.). $12,- 000 ; open accounts, $35,308— total, $2,773,306. Con- tra : Cost of road, $1,750,530 ; equipment, $504,471 ; stocks of other companies, $500,000 ; profit and loss, $18,306 — total, $2,773,306. The Long Island RR. Co. guarantees the bonds, both principal and interest, and guarantees dividends of 5 p. c. per annum on the preferred stock. CORPORATE OFFICERS. — Geo. S. Edgell, Pres. ; Austin Corbin, Vice-Pres. ; M. A. Smith, Treas. ; D. S. Voorhees, Sec., New York, N. Y. Office, 192 Broadway, New York, N. Y. PROPRIETARY ROAD, N. Y., B. & M. B. Ry. Co. Glendale and East River RR. — Green- point to Cooper Ave., Brooklyn, 1.97 m. : total track (steel), 2.49 miles. Chartered Maich 26, 1874. Road constructed and owned by the New York, Brooklyn and Manhattan Beach Ry. Co. ; leased to and operated by the Long Island RR. Co. ; rental, $1 per annum. Balance Sheet, June 30, 1902. — Capital stock ($100 shares), $7.460; open accounts, $176,626 — total, $184,086. Contra : Construction, $176,626 ; discount, $7,460 — total, $184,086. George S. Edgell, Vice-Pres. ; D. S. Voorhees, Sec. & Treas., New York, N. Y. Of- fice, 192 Broadway, New York, N. Y. 1O. Board of Directors, Long Island RR. Co., elected April 15, 1903. W.H.Baldwin.Jr. NewYork.N.Y. August Belmont. Dumont Clarke.. " R. Somers Hayes Samuel Rea.. . .Philadelphia Pa. T. DeWitt Cuyler. " Jas. H. Hyde. . . New York.N. Y. Chas. M. Pratt. J. P. Green.... Philadelphia, Pa. Chas. E. Pugh. S. M. Prevost.. W. G. Oakman..New York, N.Y. Clement A. Griscom Philadelphia, Pa. WILLIAM H. BALDWIN, JR., President. . .128 Broadway, New York, N. Y. Treasurer — R. W. Smith Philadelphia, Pa. | Comptroller — R. W. Downing. .Philadelphia, Pa Secretary — F. E. Haff.. .128 Broadway, Now York. | Asst. Compt. — M. Riebenack. ... EXECUTIVE OFFICE 128 Broadway, New York, N. Y. Operating Office Long Island City, N. Y. NORTHERN CENTRAL RAILWAY COMPANY. (Controlled by P. EE. Co.; Operated Independently.) INDEX TO THIS STATEMENT — REFERENCES TO NUMBERS OF SECTIONS. Capital Stock 8 Car Trusts 12 Coal Tonnage 3 Directors and Officers 16 Earnings, Expenses, etc 5 Funded Debt, Details of 9 Gen. Bal. Sheet, Dec. 31, 1902. 7 Gen. Bal. Sheet, 1896-1902.... 11 Guaranteed Bonds 10 History 1 Income Account, 1902 5, 6 Insurance Fund 14 Mileage Operated 2 Operations and Inc., 1896-1902. 11 Rolling Stock 4 Securities Owned 13 Subsidiary Railroads IB !• History. — Consolidation, Dec. 9, 1854, of the Baltimore and Susquehanna RR. Co., York and Maryland Line RR. Co., York and Cumberland RR. Co., and Susquehanna 740 POOR'S MANUAL — RETURNS RECEIVED TOO LATE FOR CLASSIFICATION. RR. Co. (see MANUAL for 1885, page 261). The main line reaches the Elmira and Wil- liamsport RR. and its northern extension by using, under a traffic arrangement, 40 miles of the Philadelphia and Erie RR. between Sunbury and Williamsport. The Shamokin Valley and Pottsville RR. and the Elmira and Williamsport RR. were leased in 1863, for 999 years. The Elmira and Lake Ontario RR. Co. is controlled through ownership of its entire capital stock. The York and Rockville Branches of the Pennsylvania RR. and the York, Hanover and Frederick RR. are operated under contracts. The operation of the York Branch and of the York, Hanover and Frederick was assumed as of June 1, 1902. The Lykens Valley RR. is operated at a rental of $35,000 a year, the agreement being terminable on sixty days' notice by either party. A traffic contract with the Stewartstown RR. Co. secures to this company all traffic controlled by the former and destined to and from points on this company's main line and its connections. A controlling interest in the capital stock of this company is owned by the Pennsylvania RR. Co., but the property is operated independently by its own organization. 2. Mileage Operated, Dec. 31, 1902.— A. LINES OWNED (total, 145.61 miles). Main Line: Baltimore, Md., to Sunbury, Pa 137.02 miles. Green Spring Branch: Hollins to Green Spring Junction, Md 8.59 " B. LINES OPERATED UNDER CONTRACT (total, 304.17 miles). Rockville Branch Penn. RR. : Rockville to Dauphin, Pa 2.82 York Branch, Penn. BE. : York to Columbia, Pa 12.88 York, Hanover and Frederick RR., York, Pa., to Frederick, Md 55.65 Lykens Valley RR.: Millersburg to near Williamstown, Pa 19.29 Shamokin Valley and Pottsville RR.: See statement in Sec. 15 38.42 Elmira and Williamsport RR.: Williamsport, Pa., to Elmira, N. Y 75.50 Elmira and Lake Ontario RR.: For termini of lines see statement in Sec. 15. . 99.61 Total length of all lines operated, Dec. 31, 1902 449.78 miles. 2d track (owned, 135.88 m.; operated, 3.43 m.), 139.31 m.; 3d and 4th tracks (owned), 1.56 m. ; sidings (owned, 143.45 m. ; operated, 119.96 m.), 263.41 m.; total track (lines owned, 426.50 m. ; operated, 427.56 m.), 854.06 miles. Gauge, 4 ft. 9 in. Rail— iron, 60, 64, and 72 Ibs.; steel (owned, 415.12 m.; leased, 419.32 m.), 60, 70, 85, and 100 Ibs. 3. Coal Tonnage. — The aggregate movement of bituminous coal during 1902 was 3,816,456 net tons, an increase of 866,861 net tons, and of anthracite coal, 2,748,173 net tons, a decrease of 2,436,563 net tons as compared with the previous year. The tonnage of both classes amounted to 6,564,629 net tons as against 8,134,331 for the preceding year, being a decrease of 1,569,702 net tons in the actual aggregate of coal transported, irre- spective of the number of divisions over which it was moved. 4. Rolling Stock, Dec. 31, 1902. — Locomotives, 191. Cars — passenger, 112; bag- gage, mail and express, 49; freight (box, 2,253; stock, 14; gondola, 7,158; stone, 61; lime, 50; cabin, 109J, 9,645; service cars, 330 — total cars, 10,136. Also owns 1 tugboat. This statement embraces only the equipment absolutely owned by the company, and therefore does not include 270 freight cars, with a capacity of 1 0,820 ^tons, leased under the Pennsyl- vania Car Trust. 5. General Income Account, all lines operated by the Northern Central Ry. Co., for the year ending Dec. 31, 1902: Earnings — Passenger Traffic $1,726,143 37 Expenses — Maint. of Way and Struc.. .$1,109,304 91 Freight Traffic 6,247,71501 Maintenance of Equipment. 1,428,58052 Mail and Express 270,93253 Conducting Transportation. 3,437,476 52 Miscellaneous Sources 110,48907 General Expenses 129,73304 Rents 101,40521 Total ( $18,801.83 per mile) $8,456,685 19 Total ( $13,573.51 per mile) $6,105,094 99 Net earnings, 1902 (27.81 p. c.), $2,351,590.20; interest on investments, $518,595.25; on equipment, $17,110.30; Penn. RR. Co. proportion of loss in operating Elmira and Canandaigua divisions, etc., $39,902.23 — total, $2,927,197.98. Payments: Interest on POORS MANUAL — PENNSYLVANIA RR. SYSTEM. 741 bonds, $496,535; other interest (mortgages and ground rents, $6,898.19; car trusts, $15,- 401.59; general, $17,070.74), $39,370.52; rentals leased roads, $507,776.56; taxes, $136,- 968.99— total, $1,180,651.07. Net income, $1,746,546.91; from which were paid dividends (8 p. c.), $916,980; amount transferred to Extraordinary Expenditure Fund, $700,000 — total, $1,616,980. Surplus, $129,566.91; surplus forward ($3,345,562.67, less deductions, during the year, for State taxes due previous to 1902, etc., $138,707.78), $3,206,854.89 — total surplus, Dec. 31, 1902, $3,336,421.80. 6. Income Accounts of all corporations owned or controlled by, or affiliated in in- terest with, the Northern Central By. Co., for the year ending Dec. 31, 1902 : RAILROADS. Net Earnings. Rental Received by Sub- sidiary Company. Gross Income. Int., Taxes, etc., Inc. Extraord. Exp. Fund. Net Income. Dividend. Surplus or Deficit of Subsidiary Company. Profit or Loss to Northern Central Rail- way Com- pany. Nor. Central Rv . . . JYork Bch. P. RR . §Yk.,Han.*Fr.RR. Lvkens Val. RR. . .. Sh. V. A Potts. RR. Elmira