Page images
PDF
EPUB

MANCHESTER AND AUGUSTA RAILROAD.--Projected to run from Sumter, S. C., towards Angusta, Ga., and has been completed to Halfway or Pine Log Swamp, a distance of 14 miles, and contracts have been let for the remaining four miles. Capital stock, $100,000.

WILMINGTON, COLUMBIA AND AUGUSTA RAILROAD.-Wilmington, N. C., to Columbia, S. C., 192 miles. Sidings, etc., 20.85 miles. Gauge, 4 ft. 9 in. Rail (steel, 167.87 miles), 56 lbs. Chartered in 1846; road opened to Kingsville, S. C. (172 miles), in 1854. In January, 1867, the road was sold under foreclosure of mortgage. In March, 1868, the purchasers organized a new company under the present title, by which the road was extended to Columbia, 42 miles, and opened on the 17th of December, 1881. In October, 1879, the road was sold a second time under foreclosure, and again reorganized February 11, 1880. For terms of reorganization, etc., see MANUAL for 1884, pp. 422 and 423. The Central RR. of South Carolina (which see), extending from Sumter on this company's line to Lane's, on the line of the Northeastern (S. C.) RR. Co., a distance of 40 miles, is leased jointly by the two companies at an annual rental of $31.000. On June 1, 1885, the Wilmington, Columbia and Augusta RR. was leased to the Wilmington and Weldon RR. Co. for 99 years at an annual rental equal to interest on bonds and six per cent. on stock.

Rolling Stock-Locomotive engines, 27. Cars-passenger, 18: baggage, mail and express, 11; freight (box. 342; platform, 170; stock, 5; caboose, 34; refrigerator, 5), 556-total, 585. Also, 1 tool car.

Operations for year ending September 30, 1888 (192 miles).-Trains run (passenger, 406,329; freight, 252,663), 658,992 miles. Total engine service, 904,770 miles. Passengers carried, 213,919; carried one mile, 10,718,480; average mile-rate, 2.31 cents. Tons freight moved, 302,927; moved one mile, 29,749,550; average ton-mile rate, 1.45

[blocks in formation]

Net earnings (30.85 per cent.), $240,648.10. Payments shown in Income Account.

Balance, January 1, 1888.

Gross Earnings..

Dividends A. C. L. Sleeping Car Trust.

Current Interest.

Interest on Enterprise RR. Bonds
Wilmington Ry. Bridge Co..

Central RR. of South Carolina
Sale of Land

Total...

Construction, etc..

Railroad and Other Stocks, etc..

Current Accounts...

Cash on Hand.

Total Assets.

$181,663 25

72.669 85 145.800 66 99,753 69

* 39.453 27

$539,340 72

[blocks in formation]

General Balance Sheet, September 30, 1888.

$2,572,168 04 | Capital Stock....

115,955 93 Funded Debt.

125,099 11

Current Accounts.

88,139 64

$2,901,362 72

Profit and Loss..

[blocks in formation]

Funded debt consists of $1,600,000 first mortgage 6 per cent, 30-year $1,000 coupon bonds, due June 1, 1910, interest payable in New York and Baltimore, June 1 and December 1. Statement of earnings, expenses, etc., for eight years:

[blocks in formation]

78.79 p. c. 79.85 p. c. 71.43 p. c. 69.75 p. c. 67.79 p. c. 73.90 p. c. 63.20 p. c. 69.15 p. c.

Annual meeting, Tuesday after third Monday in November.

Directors W., C. & A. RR. Co. (elected November 18, 1884).-R. R. Bridgers, Wilmington, N. C.; W. T. Walters, B. F. Newcomer, George C. Jenkins, Enoch Pratt, George S. Brown, Baltimore, Md.; H. B. Plant, New York, N. Y. H. B. Short, Lake Waceaman, N. C.; H. Walters, Baltimore, Md.; J. T. Barron, Columbia, S. C.; (Vacancy), President, Wilmington, N. C.; W. T. Walters, Vice-President, Baltimore, Md.: H. Walters, VicePresident and General Manager; James F. Post, Jr., Secretary and Treasurer, Wilmington, N. C. PRINCIPAL OFFICE AND ADDRESS, Wilmington, N. C.

[ocr errors]

Board of Directors W. & W. RR. Co., elected November 21, 1888. W. T. Walters. .Baltimore, Md. | B. F. Newcomer..... Baltimore, Md. | H. Walters. Baltimore, Md. J. P. McCay. H. B. Plant. New York, N. Y. A. J. De Rosset.. Wilmington, N. C. Donald MacRae.. Wilmington, N. C. E. B. Borden.. ...Goldsboro', N. C. Geo. Howard. Tarboro', N. C. B. F. Newcomer, President. .Baltimore, Md. .Wilmington, N. C.

H. Walters, Vice-President and General Manager...

Sec. & Treas.-James F. Post, Jr... Wilmington, N. C. Gen. Superintendent J. F. Divine.. Wilmington, N. C.

General Auditor-W. A. Riach..

PRINCIPAL OFFICE AND ADDRESS

Wilmington, N. C.

Wilmington, N. C.

WINIFREDE RAILROAD COMPANY.

Main Line of Road.—Winifrede Junction (Kanawha Co.), to Winifrede, W. Va. 4.54 miles. Coal Branch: Winifrede to Coal Mines... .1.00 miles.

Sidings, 0.5 mile. Gauge, 4 ft. 9 in. Rail (steel), 56 lbs. per yard.

History.-Chartered in November, 1881; road opened in 1882. The Winifrede Coal Co., a distinct corporation, has a capital stock of $600,000 (no bonds or other debt), of which $450,000 are paid in. The latter company is owner of 10,000 acres of coal lands, a portion of which is developed by this road.

Rolling Stock, November 30, 1888.-Locomotive engines, 3. Cars-passenger, 1; platform, 5; coal, 130-total, 136.

Financial Statement, November 30, 1888.-Capital stock paid in (authorized, $200,000), and representing cost of road, etc., $150,000. No bonds.

Annual meeting, second Wednesday in January.

Directors (elected January 9, 1889).-James A. Wright, Amos R. Little, C. J. Harrah, R. C. McMurtrie, Sydney L. Wright, John P. Logan, Wm. Cochran, Theo. Wright, David G. Yates, Philadelphia, Pa.

THEODORE WRIGHT, President..

Treasurer-James A. Wright..

.Philadelphia, Pa.

.Philadelphia, Pa.
Philadelphia, Pa. | Secretary-D. W. Chandler..
Superintendent-R. B. Cassady.. Winifrede, Kanawha County, W. Va.
305 Walnut Street, Philadelphia, Pa.

PRINCIPAL OFFICE AND ADDRESS..

WILMINGTON, CHADBOURN AND CONWAY RAILWAY COMPANY.

Line of Road.-Chadbourn, N. C., to Conway, S. C...... Sidings, 1.85 miles. Gauge, 4 ft. 9 in. Rail, 56 lbs.

.39.25 miles.

History.-Incorported in North Carolina in 1883; in South Carolina in 1885; consolidated in 1886; road opened in Mount Tabor, N. C., 14 miles, in February, 1886; to Loris in December, 1886, and to present terminus December 19, 1887.

Rolling Stock.—Locomotive engines, 2. Cars-possenger, 2; freight, 8-total cars, 10. Operations.-Detailed statement not furnished. Freight receipts during last fiscal year amounted to $19,883.06.

Financial Statement.-Capital stock paid in, $102,700. No bonds.

Directors.―James H. Chadbourn, George Chadbourn, W. H. Chadbourn, J. H. Chadbourn, Jr., Wilmington, N. C.; B. G. Collins, Conway, S. C.

[blocks in formation]

WRIGHTSVILLE AND TENNILLE RAILROAD COMPANY.

Line of Road.-Tennille, Ga., to Dublin, Ga.....
Sidings, 3.5 miles. Gauge, 4 ft. 9 in.
History.-Organized November 7,
ent title adopted December 28, 1883.
December 1, 1886.

.35.50 miles.

Rail (steel, 20 miles), 40 and 50 lbs.
1883, as Wrightsville and Sun Hill RR. Co., and pres-
Consolidated with Dublin and Wrightsville RR. Co.

Rolling Stock, November 30, 1888.-Locomotive engines, 3. Cars-passenger, 2; baggage, etc., 2; freight, 4; caboose, 1-total cars, 9. Of the above, 1 locomotive engine is leased.

Operations, for year ending November 30, 1888.-Train mileage, not reported. Passengers carried, 34,336. Tons freight moved, 44,432. Earnings-passenger, $18,979.61; freight, $45,310.53; mail, $1,607.73; express, $2,198.70; other, $8,296.14-total, $76,392.71. Operating expenses, $67,552.61. Net earnings, $8,840.10. Paid interest on bonds, $450. Bal

ance, surplus, $8,390.10. At the close of the fiscal year the company had an available surplus of $16,581.02, from which was declared a dividend of 12 per cent., $14,339, payable January 1, 1889. Included in operating expenses are $25,806.14, properly chargeable to construction, betterments, or improvement to property.

Financial Statement, November 30, 1888.-Capital stock-common, $49,497,21; preferred, $70,000; bills payable, $15,203.70; current accounts, $815.35; profit and loss, $29,546.56-total, $165,062.82. Contra: Road and equipment, $136,730.75; real estate, $2,740; securities owned, $92.30; telegraph line, $1,267.99; bills receivable, $6,172.41; current accounts, $6,524.91; cash on hand, $11,534.64-total, $165,062.82.

In January, 1888, the company made an issue (authorized, $23,000) of first mortgage 6 per cent. 30-year bonds, interest payable January and July, at Savannah, Ga., of which there are outstanding, $15,000—all owned by Central of Georgia. The Central also owns the entire issue of preferred stock. Par value of stock, $25 per share.

Annual meeting, second Monday in January. Books close ten days prior to the annual meeting and stock held then may be voted. Preferred stock carries preference for dividends up to 6 per cent. Dividends payable January and July at the company's office. Trustee of bonds, the President of Central Railroad and Banking Company of Georgia.

Directors.-W. B. Thomas, G. W. Perkins, Tennille, Ga.; R. L. Warthen, O. H. Rogers, Sandersville, Ga.; A. F. Daley, Wrightsville, Ga.; W. S. Ramsey, T. B. Felder, Jr., Dublin, Ga.; Edward McIntyre, J. S. Wood, Savannah, Ga.

W. B. THOMAS, President and Superintendent

Secretary and Treas.-W. C. Mathews....Tennille, Ga. | Auditor-F. H. Robinson..
PRINCIPAL OFFICE AND ADDRESS..

.Tennille, Ga.

.Tennille, Ga. .Tennille, Ga.

GROUP 5.-Railroads of Gulf and Mississippi Valley States: Alabama, Mississippi, Louisiana, Tennessee, Kentucky.

ALABAMA GREAT SOUTHERN RAILROAD COMPANY.

Line of Road.-Waubatchie, Tenn,, to Meridian, Miss..... ...290.21 miles. Sidings, 67.99 miles. Gauge, 4 ft. 8 in. Rail-iron, 56; steel (290.01 miles), 56 and 60 lbs. History.-Chartered in Alabama, December 12, 1853, as Northeast and Southwest Alabama, and reorganized as Alabama and Chattanooga, October 6, 1868. Whole line completed May 17, 1871. Default made January 1, 1871; road sold January 22, 1877. Present company organized by purchasers November 30, 1877.

The company uses the tracks of the N. C. & St. L. RR. from Wauhatchie to Chattanooga, 5.30 miles, making the total line operated 295.51 miles.

Rolling Stock, December 31, 1888.-Locomotive engines, 50. Cars-passenger, 13; baggage, mail and express, 7; freight (box, 716; platform, 202; stock, 21; coal, 1,374; caboose, 23), 2,336; other cars, 27-total cars, 2,383. Also, 3 steam shovels.

Operations for year ending December 31, 1888 (295.51 miles).—Train mileage-passenger, 540.407; freight, 733,664; other, 371,981-total, 1,646,052 miles. Passengers carried, 356,351; carried one mile, 16,453,775; average mile rate, 2.50 cents. Tons freight moved, 1,097,269; moved one mile, 105,321,511; average ton-mile rate, 0.92 cent.

[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small]

Net earnings (19.99 per cent.), $309,715.72. Add other receipts: Interest, $11,172.76; dividend, $30,000-total available revenue, $350,888.48. Payments: Interest on 1st mortgage bonds, $105,000; on debentures, $39,074.40; on general mortgage bonds, $39,817.45; income tax, $4,494.26; exchange, $110.55; amount written off suspense account, $20,000total, $208,496.66. Surplus, $142,391.82. Surplus, December 31, 1887 ($13,793.21 minus arrears of dividends, less income tax, from December 1, 1885, to December 31, 1887, on 909 preference shares, $5,384.11), $8,409.11-total surplus, $150,800.93 or £31,029 08. 1d. Of this sum, £3,694 88. 11d. was payable to English Co. for expenses; £26,366 14s. 7d. for dividend (4 per cent.) on preference shares, less income tax-leaving net surplus of £967 168. 7d. Statement showing operations, earnings, expenses, etc., for seven years 1882-1888:

[blocks in formation]

Preference capital stock is entitled to preferential dividends of 6 per cent., cumulative for 6 years; authorized amount, $4,000,000. Funded debt consists of $1,750,000 first mortgage 6 per cent. 30-year gold bonds, due January 1, 1908, interest payable in New York January and July-outstanding, $1,714,000; deposited in trust to meet outstanding claims, $21,000; in hands of English Company, $15,000; debentures-issued to English Company, $670,000 and £1,160,000 general mortgage bonds-issued, £276,000; deposited in trust to secure and provide for the first mortgage bonds and debentures, £484,000; unissued, £400,000. The general mortgage bonds issued in April, 1888, are £100 each, coupon, interest, 5 per cent., payable in London, June and December, principal due December 1, 1927, the company, however, having the option of redemption on June 1, 1898, at 110 per cent.

In 1888 power was obtained to offer holders the option of funding their arrears of divi

dend. These funded certificates bear 4 per cent. interest, and are to be redeemed by the appropriation of equal annual sums (out of the surplus net earnings remaining after payment on the dividend on the preference shares and the interest on the certificates) sufficient to discharge the whole amount of the certificates within a period of ten years from January 1, 1888. The certificates are registered in holders' name, and are transferable by deed in any amount.

Annual meeting, not later than November, and books close about fourteen days prior to meeting. Principal and interest of first mortgage bonds, payable in gold in New York. Trustee of 1st mortgage bonds, Farmers' Loan and Trust Co., New York, N. Y. Stock and bonds listed at London, England; also quoted at Glasgow, Scotland.

Alabama Great Southern Railway Company.-Limited.

This is an English corporation registered in London September 20, 1877, to acquire and operate the Alabama Great Southern RR.; the Alabama Great Southern RR. Co. (an American organization) representing their interest in America in order to comply with the local State law.

General Balance Sheet (A. G. S. Ry. Co.), December 31, 1888.

[blocks in formation]

The debentures are for £100 each, issued in August, 1886, due August 15, 1906; interest 6 per cent. gold, payable in London, February 15 and August 15. They are exchangeable for any mortgage bonds issued after them.

During the past year the following items were charged to Capital Account : Rolling stock, $313,185.86; tools and machinery, $34, 139.62; track and road way (in respect of 68 miles of steel rails laid during the year), $114,839.10; remodelling yards, and additional sidings (3.87 miles), $82,674.66; branch lines to furnaces, $4,850.46; buildings, $93,601.95; miscellaneous, $10,082.11-total, $653,373.76.

Revenue Account (English Company) December 31, 1888.-Received from American corporation for expenses, £3,694 88. 11d.; for interest on debentures, £8,040 08. 0d.; for arrears of dividend, less income tax, from December 1, 1885, to December 31, 1887, on 909 preference shares, £1,107 168. 10d.; dividend on preference shares receivable from American corporation, less income tax, £26,366 148. 7d.-total, £39,209 08. 4d. Payments: Salaries, £1,119 58. Od.; directors' and auditors' fees, £852 108. Od., other expenses (£1,755 10s. 5d., less transfer fees, £32 168. 6d.), £1,722 13s. 11d.; interest on debentures, £8,040 08. Od.; arrears of dividend, less income tax, from December 1, 1885, to December 31, 1887, on 909 preference shares, £1,107 168. 10d.; balance, £26,366 148. 7d.-total, £39,209 08. 4d.

Directors (elected May 7, 1889).-Augustus B. Abraham, H. Doughty Brown, Roger Eykyn, Geo. W. Medley, C. Schiff, T. W. Snagge.

.London, Eng. ...Cincinnati, O.

AUGUSTUS B. ABRAHAM, President English Company..
CHARLES SCHIFF, President American Corporation...
.Cincinnati, O. Secretary-R. V. Tomlinson
Treasurer-H. H. Tatem.

Comptroller--C. C. Harvey.
General Manager-John C. Gault.

PRINCIPAL OFFICE AND ADDRESS.
London Office....

London, Eng. .Cincinnati, Ŏ.

.Birmingham, Ala.

.Prince's Street Chambers, 2 Prince's Street, London, Eng.

« PreviousContinue »