(Continued) B. & M. R. RR (Iowa) convertible 8 per cent. bonds, payable July 1, 1894 B. & M. R. RR. in Nebraska consolidated mortgage sinking fund 6 per cent. bonds, payable July 1, 1918. B. & M. R. RR. in Nebraska sinking fund 4 per cent. bonds, payable January 1, 1910, issued for Atchison & Nebraska RR stock Republican Valley RR. mortgage sinking fund 6 per cent. bonds, payable July 1, 1919. Total Stock and Funded Debt. * Quoted in London. Contingent Liabilities for Branch Roads: Ottawa, Oswego & Fox River Valley RR. 8 per cent. bonds, Omaha & Southwestern RR. 8 per cent. bonds, payable Nebraska Railway 7 per cent. bonds, payable October 1, 1896. Atchison & Nebraska RR. 6 per cent. bonds, payable Dec. 1. 1927, (first mortgage on Rulo Bridge and second mortgage on Railroad) 66,000 00 12,894,000.00 3,347,000.00 1,078,000.00 109,711,200.00 186,106,105.00 1,076,000.00 669,000.00 349,000 00 1,125,000.00 901,280 84 Lincoln & Northwestern RR. sinking fund 7 per cent. bonds, payable January 1, 1910. 600,000.00 4,720,280.84 Coupon interest unpaid (including $1,204,442.50 due January 1, 1892) 1,340,786.75 Sinking Funds, showing the total of payments to and accretions of C. B. & Q. 5 per cent. bonds, account of A. K. & D. M. RR. bonds. 359,368.30 C. B. & Q. 5 per cent. bonds, account of st. L. R. I. & c. 1,102,304.21 2,213,463.43 535,456.40 973,663 74 C. B. & Q. 4 and 5 per cent. bonds (Iowa division). C. B. & Q. 4 per cent. bonds of 1921 (B. & S. W. Ry.). 'C. B. & Q. 4 per cent. bonds 1922 (Denver extension) C. B. & Q. 4 per cent. bonds of 1927 (Nebraska extension) B. & M. R. RR. (Iowa) land grant bonds B. & M. R. RR. in Nebraska 6 per cent. bonds of 1918. B. & M. R. RR. in Nebraska 4 per cent. bonds of 1910 (A. & Republican Valley RR. 6 per cent. bonds of 1919 Lincoln & North Western RR. 7 per cent. bonds of 1910 991,299 87 8,763,820.47 3,043,802.75 1,044,773.14 220,105 93 96,600.30 19,348,658.54 242,354,341.53 CREDIT. Construction Accounts Amount of construction and equipment reported Dec. 31, 1890. 112,511,861.63 Amount expended for equipment in 1891 $538,417.54 1,297,447.37 113,809,309.00 71,664,569.49 2,343,596.72 Cost of Branch Roads Cost of branch construction reported Dec. 31, 1880. Cost of investments in Chicago & Iowa; Hannibal & St. Sundry investments Materials on hand for future use. Trustees of Sinking Funds, showing the cost of uncancelled securities held in Sinking Funds for C. B. & Q. 5 per cent. bonds of 1895. C. B. & Q. 5 per cent. bonds of 1901. C. B. & Q. 4 per cent. bonds of 1921. C. B. & Q. 4 per cent. bonds of 1922 B. & M. R. RR. (Iowa) land grant bonds B. & M. R. RR. in Nebraska 6 per cent. bonds B. & M. R. RR. in Nebraska 4 per cent. bonds 74,008,166 21 30,751,958.89 2,209,846.74 1,000,352.65 229,848.86 927,266.95 535,456.40 973.663.74 9,501,889 06 3,043,802.75 1,044,773.14 224,105.93 96,600.30 Concerning the proprietary systems all that is necessary for our purpose is to state the following: The Ch., B., & Northern operates 363 miles, and was completed in 1886, forming one of the best connections between Chicago and St. Paul, and using part of the C., B. & Q. main line to the West; this road claims to be better graded than any other connecting its two terminals. The company issued bonds to the amount of $12.7 millions and its stock amounts to $9,068,500, earns no dividend, and was bought at 40 in 1890 by the C., B. & Q. The Chicago, Burlington & Quincy and Chicago & Iowa give a traffic guarantee for twenty years of one-half of their net earnings derived from business to and from the Chicago, Burlington & Northern (to be not less than $100,000 per year) for the retirement of Chicago, Burlington & Northern firsts at 105; and after March 31st, 1896, the whole issue may be retired at 105. In 1891 gross earnings were $2,224,203; net, $925,683. In 1890, gross, $2,115,412; net, $876,855; interest, $692,700; rentals, etc., $106,001; surplus, $213. The Kansas City, St. Joseph and Council Bluffs RR. connects the three towns after which it is named. Bonded debt $5,587,000. The capital stock of $5,262,600 was purchased by the Chicago, Burlington & Quincy in 1880, and the road is operated as part of that system. In 1890 gross earnings were $1,863,021; net, $596,327; surplus over fixed charges, $183,031; dividends paid, $161,577. CHAPTER XXXIV. THE WABASH. The oldest part of what to-day is the Wabash system was projected in 1857, when the North Missouri RR. was chartered. This road was built with State aid, Missouri advancing $435,000 in its own bonds secured by a lien on the road and was to connect St. Louis with Kansas City. Construction was pushed forward, a first mortgage of $6,000,000 being issued, but although the company absorbed several others its lines did not reach Kansas City during the first stage of its existence. In 1868 the State waived its mortgage rights and the company was thereby enabled to issue a second mortgage to the amount of $4,000,000, on the interest of which it defaulted, a sale in foreclosure, held in 1871, being the result. The property was acquired by the St. Louis, Kansas City and Northern, which built several new branches and increased the length of the system to 599 miles, completing the connection between St. Louis and Kansas City, Council Bluffs and other points. In 1879 the St. L., K. C., & N. amalgamated with the Wabash RR. Co., a corporation which was a reorganisation of the Toledo, Wabash and Western, the latter again being an amalgamation of many small lines. After the fusion of the Wabash with the St. Louis, Kansas City and Northern the company was known as the Wabash, St. Louis and Pacific RR., and owned about 860 miles of road running from Toledo on Lake Erie to Kansas City and other points, via St. Louis. This consolidation was very much of a 'deal.' Mr. Gould and several others who had acquired anything but a good reputation over the management of the Erie had a finger in the pie, and hence it is almost needless to say that the 1 This lien was relinquished in 1868, the State declaring itself satisfied with a payment of $200,000 in its own bonds. |