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AMERICAN 
RAILROAD 




NEW YORK 




V. 55. 1882 



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.; Steam Navigation, Commerce, Finance, Banking, Machinery? Mining, Manufactures. 



Sboons Quabto SKBits.— Vol. XXXVIII., No. 1.] 



NEW YORK, JANUARY 7, 1882.. 



fWHOLE No. 2.388.— Vol. LV. 






Fullman 



Cars Between 
Brighton. 



London and 



Bad as was the weather there was as repect- 

able gathering of ladies and gentlemen, the 

former predominating, at the early hour of 10 

A. M., at the Victoria Station on Monday to try 

i,,: the new train service of Pullman cars that day 

'■^'- to. be inaugurated between London and its 

,' fashionable suburb, London-super-Mare. A 

■ good deal of curiosity seemed to be created by 
- the cars, but that was owing to the fact that 
"V our particular train was to consist of 4 Pullman 
/ cars, and nothing else. At the head is the 
; "Victoria," which is a parlor and refreshment 

■ car of a non-alcoholic character, social arrange- 
ments being requisite for those thirsty souls 

^ who cannot stand the fatigue of a journey to 
Brighton without something in the shape of 
alcoholic liquor. But such unhappy people 
must be rare, as, so far from traveling in the 
Pullman car being a fatigue, it may be describ- 



you can wash your hands, or titivate your per- 
son. If you travel with servants or luggage 
there are compartments for them both, and if 
you require the service of an attendant you 
have only to touch a knob and he appears. 
The ordinary first-class fare to Brighton and 
back is seventeen shillings and sixpence. By 
the Pullman car the charge is one pound. To 
any one'to whom money is no object — and that 
is the only class of visitor for whom Brighton 
kills the fatted calf and wreathes her face in 
smiles — the extra half-crown for the car is well 
laid out, and I doubt not but that the train 
will be a great success, as. indeed, it deserve* 
to 1 A uur little trai ct 

Monday," observed one, who evidently knew, 
" was £20,000 ;" but as the train runs four 
times a day, and may be expected to fill well, 

that sum, it must be owned, was not badly laid 
out. 

But the chief novelty of~the train is the elec- 
tric lighting. The carriages in the day-time are 



ed as quite the reverse. You sit in a velvet | iiot lighted at all ; but, suddenly, just before 



arm-chair, and if you take your place in Lon 
V don, an hour and a quarter or twenty minutes 
-after you rise from it to find yourself in Brigh- 
•• ton ; having all the while, as it were a moving 
panorama of town and country, villages of pleas^ 
•ant mansions, of green fields right before your 
very eyes. In summer it must be very pleasant 
to stand on the little landing-places between 
each car, and thus, when so disposed, to enjoy 
the benefit of traveling in the open air. This 
car, at the door of which we stand, the *• Vic- 
toria," is the principal one. It has twenty-six 
seats, and a low counter for tea and coffee and 
light refreshment. There also are the daily 
papers on sale, besides there is a letter-box, 
barometer and thermometer. On each side 
there are little tables where you can write or 
,.; refresh yourself according to your wish. If we 
resume our exploration we find ourselves in the 
"Beatrice," or drawing-room car, the hand- 
some velvet chairs of which on the present oc- 
casion are handsomely furnished with ladies, 
so that there is not a seat to spare, and how- 
ever disposed we may be to stop and chat, we 
are compelled to keep on moving, while the 
ladies study the latest novel, or, with agile 
fingers, do their daily round of crochet work. 
Further on we arrive at the " Louise," another 
drawing-room car. On our tour of inspection 
we note that every provision has been made for 
the want^ of the traveling public. There are 
retiring rooms, rather Liliputian, it must be 



ou enter a tunnel, there comes down on you a 
eautiful and soft light of the most exquisite 
haracter. For that numerous class of Her 
.ilajesty's faithful lieges, who when on a jour- 
ney are always wanting "to stretch their legs 
a-bit," the Pullman Limited Express offers 
many advantages, as you can walk up and 
down, from Dan to Beersheba— that is, from 
the smoking car at one end to the drawing- 
room car at the other -as often as you like. 
Howtvei, the traveler requires s§a 1-^ , ^o 
that part of the business comfortably, if not 
he had better sit in his armchair at ease. The 
light, it may be as well to state, for the benefit 
of the scientific or curious reader, comes from 
thirty-four of Faure's accumulators in the 
guard's apartment. The magazines of electric- 
ity are supplied by an engine and dynamo 
machine in the Victoria Station. In time it is 
expected the train will store up electricity for 
itself by the working of a dynamo machine 
attached to the axle of the engine. But enough 
of science. As a matter of fact, the Brighton 
Company's Pullman car is as near perfection as 
can be imagined, and I look forward to the time 
when such cars shall run no longer for the 
benefit of the wealthy or luxurious, but for all 
decent people who have to take a railway jour- 
ney. A little while ago I had to travel in a 
train which was bearing a real live London 
Mayor to a provincial town. I rode second- 
class, as befitted my humble circumstances, 



owned, but, nevertheless, big enough, in which J, and the consequence was I had the pleasure of 



the company of a couple of his lordship's ser- 
vants. It was a low, villanous carriage, and a 
disgrace to any company, and so it seemed to 
his lordship's servants. "Jem," said one of 
them to the other, as he bent his haughty head 
to enter a compartment, "these carriages 
weren't built for the likes of you and I." I 
can only add, as a last word of praise for the 
Pullman Limited Express, that in one of these 
carriages even a Lord Mayor's servant may 
enter without being compelled to submit to the 
indignity of a stoop. — Christopher Crayon, in 
London Christian World. . . i 
^ ' 1 ■ 

The - ylvania Railroad Comx>any'8 
Improvements in Jersey City. 




The straightening of the cut through Bei 
Hill, at Point of Bocks, Jersey City, which was 
commenced in 1879, by the Pennsylvania Rail- 
road Company, is now nearly completed. Whemy 
the road was first constructed the engineers^ 
for the saL.e of economy, made three heavy 
curves. To straighten these curves the cut 
had to be widened in some places to 110 feeL 
Two of these curves have already been removed* 
and the third will be finished in a few weeks. 
The straightening of the cut, the engineers es- 
timate, will afford a saving in time of about 
five minutes to e-ach train, besides the great 
amount of wear and tear to the rolling stock. 
Four tracks will be laid through the hill in 
place of the two now used; two for freight, and 
tw** ■ ■• osenger trains. The roadbed is bal-> . 
las.. iih broken stone, and is accuratetjrv 
graded with concrete gutters on each sid*. -' 
Handsome terraces have been formed on each 
side of the rpad, upon which, in the summer, 
will be planted flowering plants and vin«s. 
The new tracks are also being laid from ths 
cut to the Hackensack River. A bridge at this 
point will be widened in the spring so that the 
four tracks can be laid upon it. The new pier 
at the foot of Sussex street, Jersey City, which ; 
the Pennsylvania Railroad has been building 
for the Wilson Steamship Line, is nearly com- 
pleted. The pier is 500 feet long and 150 feet 
wide. It is two stories high and covered with \ 
corrugated iron. A double track for freight '' 
cars extends to its extreme end, the tracks be- 
ing sunk just far enough below the flooring of 
the pier to allow the sills of the cars to be on a 
level with it. The lai^est steamship can lie 
alongside the pier, and with the aid of derricks 
can be loaded directly from the cars. The 
floor of the pier lies on two layers of heavy 






174178 









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AMERICAN RAILROAD JOURNAL 



timbers which cross each other diagonally and 
are fastened together with heavy bolts. 



Philadelphia and. Keading Companies. 



The following is the comparative statement 
of the Philadelphia and Keading Railroad Com- 
pany and the Philadelphia and Reading Coal 
and,Iron Company for the month of November, 
1881 and 1880 : 

1881. • 



GROSS HECEiPTS. t^ofit for TWO. Year to date. 

RaUroad traffic *880,7-27.37 *8.411,996.09 

Canal traffic 98,445.42 439,468.62 

Steam colliers 37,789.87 287,770. 3'2 

Richmond coal barges 302.81 2,710.64 



Total Railroad.Co 11,017,265.47 

Beading Coal & Iron Co. . . .\ 228. 1H2 .38 



Total of all ?1, 

TONNAGE A PASSENGERS. 

Tons of coal on railroad 

Tons of merchandise 

Passengers caiTied 

Coal transp by stm colliers. .. 

TONS OF COAL MINED. 

By Coal and Iron Company. . 
By tenants 



245,447.85 

Month. 

825,766.12 

754,699.04 

869,391 

44,912.00 

421,391.09 

148,025.05 



$9,141,945.67 
1,199,445.12 

$10,341,390.79 

Year to date. 
8,072,142.05 
6,815,234.17 

10,561,853 
555,253.00 

3,937,607.12 
1,484,992.16 



Total mined from lands owned 
and controlled by Co. and 

from leasehold estates 569,416.14 5,422,600.08 

1880. 



OBOSS RECEIPTS. Profit for mo. 

Railroad traffic j806,720.61 

Canal traffic 119,550.34 

Steam colliers 36,633.89 

Richmond coal barges 1,742.90 



Year to date. 

$7,945,392.78 

455,826.66 

223,589.32 

2,444.15 

$8,627,252 91 
546,283.66 

$9,173.5^0.57 

Year to dale. 

7,179,398.13 

5,885,080.0(1 

9,822.422 

545,600.00 



3,460,464.03 
1,235,642.10 



Total Baib-oad Co $964,647 . 77 

Reading Coal & Iron Co 172,328.02 

*« 

Total of aU $1,136,975.79 

TONNAGE A PASSENGERS. Month. 

Tons of coal on railroad 769,394.09 

Tons of merchaudiee 475,681 .08 

Passengers carried 774,145 

Coal transp by stai colliers 46,683.00 

TONS OF CO.VL MINED. 

By Coal andilron Company. . . . 393,861.14 
By tenants 138,919.15 

Total mined from lands owned 
and controlled by Co. and 
from leasehold estates 532.781.09 4,696,103.13 

The gross receipts of the Railroad Company 
for the month of November were : from railroad 
traffic. $1,789,908.70 ; from canal traffic, $151,- 
829.89 ; from steam colliers, $64,242.77 ; from 
Richmond coal barges, $9,607.79— total, $2,- 
015,589.21, and the expenses $998,323.74, leav- 
ing net earnings, as stated above, $1,017,265.47, 
against $964,647.77 for the month of November, 
1880, an inerea.se of $52,617.70. The gross re- 
ceipts of the Coal and Iron Company for the 
same month were $1,482,790.40, and ♦he ex- 
penses,$l, 254, 608.02, leaving net earnings $228,- 
182.38, against $172,328.02 for the same month 
last year, showing an increase of $55,584.36. 
The profit of the Railroad Comjiany, for the 
year ending November 30, 1881, was, as stated, 
$9,141,945.17 and of the Coal and Iron Compa- 
ny $1,199,445.12, a total for both companies of 
$10,341,390.79 — being a gain, as compared with 
the year 1880, of $1, 167,854.22. From the profit 
must be deducted the debit balance of renewal 
fund, $218,999.75 ; State tax on capital stock, 
$70,502.48 ; all rentals and full interest on all 
outstanding obligations, including floating debt, 
whether paid or not by the receivers, $8,709,- 
854.79; also, full interest on all outstanding ob- 
ligations of the Coal and Iron Company, other 
than those held by the Railroad Company, 
whether paid or not by the receivers, amount- 
ing to $1,158,777.63, making a total of $10,158,- 
134.65 — leaving the surplus of both companies 



'_■> 



for the year ending November 30, 1881, $183,- 
256.14, against a loss of $1,209,980.17 in the 
previous year, a gain of $1,393,242.31. Of this 
surplus $142,588.65 goes to the credit of the 
Railroad Company, and $40,667.49 to the credit 
Coal and Iron Company. 



v\V 



Finances of Pennsylvania. 



AccoKDiNG to the report of the State Treas- 
urer, just issued, the receipts into the Treasury 
of the State of Pennsylvania, for the fiscal year 
ending November 30, 1881, (including $1,815,- 
046.90 balance from thfe previous year) were 
$8,816,829.33, and the disbursements (including 
$421,801.60 of loan redeemed) were $6,926,810.- 
20 ; leaving a balance on hand December 1, 
1881, of $1,890,019.13. The total debt of the 
State at the close of the year was $21,140,888.- 
05 ; of which $164,388.05 is non-interest bear- 
ing. The Treasurer says : — 

The increase of revenue over the estimates 
made at the commencement of the fiscal year 
jiist closed has entirely relieved the Treasury 
from the heavy floating indebtedness existing 
at that time, and at the same time has enabled 
the department to meet promptly every obliga- 
tion falling due during the year. Such is the 
improved financial condition of tat Common- 
wealth that it is an important que.'-'^ioi. whether 
the time has not arrive' ... x important 

industries should be 'Telie^'etl from some of 
their heavy burdens o_ j,xation. The most 
careful estimates warrant the belief that a less 
amount of revenue than the present laws pro- 
duce will be sufficient to meet all the necessary 
requirements of the Government in the future. 

The ordinary revenue of the State for the cur- 
rent fiscal year is estimated by the Treasurer 
at $6,015,000 ; and the expenses at $5,261,593. 



■^^ 



New York, Lake Erie and Western R. R. 



The following is an abstract of the report of 
the New York, Lake Erie and Western Railroad 
Company for the fiscal year ending September 
30, 1880: 

Common stock, 78,000,000; preferred stock, 
8, 536, 900. Earnings — from passengers, $4, 041 , - 
267.03 ; from freight, $15,979,576.61 ; from ex- 
press, $384,346.42 ; from mails, $167,459.56 ; 
from rents, $44,464.66 ; from miscellaneous 
sources, $85,792.05 ; from car service, $12,698 
85 ; from ferries, $607,757.48 ; from interest on 
securities, $235,962.24; from sterling exchanges, 
$586.24~total,$21, 559,91 1.14. The total charges 
against the earnings are $19,672,493.40, leaving 
a surplus for the year of $1,887,417.74. There 
was a net increase in the expenses over those 
of 1880, as shown by the balance she 

130.851.05. 1 ' . .• 

- ■\- ■■■' '-■- . .-■• 

■ . ['■■ ■".■■■-. :vp •■- V • DEBIT. -■ .. '■■ 

Construction main line, $2,340,657.55 ; third 
rail, general account, $218,898.20 ; equipment, 
$766,061.84 ; real estate, $387,388.37 ; amounts 
expended out of special fund for third rail, $1,- 
207,429.20 ; second track, $1,067,053.64 ; third 
track, $2,942.40; grading, $1,507.55; real estate, 
$6,127 ; right of way, $2,250 ; improvements at 
Buffalo, $141,504,60 ; engine-house at Bergen, 
$36,556.59 ; equipment, $396,376 ; elevator at 
Buffalo, $203,973.16 ; ship basin and docks at 
Jersey City. $98,938.55 ; Lehigh docks at Buf- 



falo, $126,713.72; Weehawken docks, construe, 
tion, $27,890.20; Blake's docks at Buffalo, $89,- 
865.98; New York and Fort Lee Railroad, $25,- 
346.45 ; improvements at Union Stock Yards, 
Fortieth street. New York City, $8,298.43; Buf- 
falo and Southwestern Railroad improvement 
account, $52,205.20; amount paid on account of 
equipment, $1,667,851.88 ; stock in other com- 
panies, $734,490.49; bonds of other companies, 
$273,819.60 ; amounts due on current accounts, 
$2,565,415.50 ; supplies, $1,206,181.13; cash on 
hand, $77,150.32 ; cash in London to pay cou- 
pons, $23,713.42 ; bills receivable, $34,666.69 ; 
discount on common stock, $269,675; estate of 
Erie Railway Company, $151,210,930.63. 

CREDIT. 

Common stock issued to this date, $76,943,- 
100 ; preferred do., $7,632,200 ; funded debt, 
$67,165,665.95; loans payable, $58,500; interest 
on funded debt, due and accrued, $1,109,530.70; 
renewals, leased lines, $360,581.40 ; amounts 
due, pay rolls, $709,331.52 ; audited vouchers, 
$1,548,079.19; traffic balances, $644,080.39, sun-; 
dries, $127,325.38 ; assessments on common ■ 
stock of Erie Railway Company ($4 per share), 
$2,791,424; interest on assessments received on t 
stock of Erie Railway Company and interest j 
and profits on investments, etc., $376,197.35 ; 
profit and loss, $5,798,556.26. 



Canadian Form of Government. 



Canadian school text-books which undertake 
to describe our form of government will short- 
ly need to be changed to read after this man- 
ner : "A limited responsible government con- 
sisting of a Governor-General responsible to 
the Crown with an Executive Council respon- 
sible to the people's representatives ; a Legis- 
lature composed of a Senate appointed by 
the Governer-General-in-Council and a House 
of Commons elected by and responsible to the 
people, and a Syndicate (to govern the carriage 
of goods and passengers through, in and out of 
the country), responsible to its own stockhold- 
ers." The same definition, with slight changes 
of names of ruling bodies, will also apply to 
each of the several Provinces. In addition to 
the great Syndicate— the octopus of the West — 
we have the Quebec Government eagerly look- 
ing for a syndicate to take over its valuable 
railways. The railway system of Nova Scotia 
seems to be already within the clutches of a 
syndicate headed by Baring Bros., ba ' t-rs, of 
London, and the Prince Edward Islai crs are 
asking to have their lines thrown into i.L*j b<uut> 
hands. Amalgamation of the great Ontario 
lines into big monopolies fills the air with 
rumors. New Brunswick has one of its leading 
lines owned by members of the Pacific Syndi- 
cate, and has a network of railways under vari- 
ous management in course of preparation, 
doubtless, for the maw of either an existing 
syndicate or one that will arise.—Montreal Daily 
Witness. 



As a party of gentlemen and ladies were 
climbing to the top of a high church tower one 
hot day, a gentleman i-emarked, •♦ This is rather 
a spiral flight of steps." To which a lady re- 
joined, "Yes, peispiral," and she wiped her 
brow as she spoke. 



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AMERICAN RAILROAD JOURNAL. 




3 



i PUBLISHED WEEKLY BY THE I ;^T ; ' 

AMEBICAN RAILROAD JOURNAL CO., 

. , At 23 Liberty Street, New York. 



Subscription, per annnm, in advance $5 00 

Foreign Subscription, including postage 6 00 



Purchases for the American Ratlkoad Joubnai. Co. are 
authorized only by the written order of Geo. F. Swain, 
Treasurer; and the Company will not be responsible for 
the payment of bills unless accompanied by such order. 

Subscribers are requested to report to our office any 
irregularity in receiving the Joubnal. 

Contributed articles relating to Railroad matters gen- 
erally. Mining interests. Banking and Financial items. 
Agricultural development, and Manufacturing news, by 
those who are familiar with these subjects, are especial- 
ly desired. 

Payments for advertising and subscriptions should be 
made by check payable to order of the Treasurer. 



BRANCH OFFICE J 
53 De-ronshire St.« Boston, Mass. 



Mr. Fbbdebic Aloab, Nos. 11 and 12 Clements Lane, 
Lombard Street, London, E. C, England, is the author- 
ized European Agent for the Joubnal. 



New York, Saturday, January 7, 1892. 

Entered at the Post Office at New York Citjf at SecondrClau 
Mail Matter. 

RIVAL SEAPORTS AND THEIR 
FOREIGN COMMERCE. 



AMONG other interesting and original 
features of tlie report of the Chief of 
the National Bureau of Statistics recently 
issued, is a carefully prepared statement 
of the relative magnitude and growth of 
the foreign commerce of the cities of 
Boston, New York, Philadelphia, Bal- 
timore and New Orleans. The interests 
of these fine cities, which are the most 
important of our seaports, are so closely 
connected with the internal commerce of 
the country and the development of re- 
sources in widely extended localities that 
the information given concerning their 
foreign commerce is of peculiar value at 
this time when attention is turned in such 
a marked degree to, the study of this sub- 
ject and the influences effecting the relative 
conditionof certain shipping points. The 
great interest shown of late in the South- 
; western and Gulf traffic gives a special 
\y value to figures showing the position oc- 
; vcupied by New Orleans, the chef outlet 
for the great Mississippi water route, 
" The facts as given in the report, it 
should be remembered, are not intended 
to furnish any indication of the relative 
ma<»nitude of the total commerce of these 
several cities, but simply to show their 
relative status with respect to foreign 
, commerce. 

A table is given showing the tonnage 

■ of vessels entered in the foreign trade at 

the cities mentioned each year during 



the twenty years ended June 30, 1880, 
from which it appears that the total ton- 
nage of the five ports in 1856 was 3,353 - 
392; in 1860 3,696,376; in 1870 4,917,. 
856, M'hile in 1880 it had increased to 
12,613,664. The percentage of the ton- 
nage for each port in 1856 was for New 
York 50.15 per cent, Boston 20.34, New 
Orleans 19.77, Philadelphia 5.17, Balti- 
more 4.57. In 1880 the percentage stood, 
New York 60.34 per cent, Baltimore 11- 
92, Philadelphia 11.03, Boston 10.68 New 
Orleans 6.03. From this brief compari* 
son it will be seen that New York has 
gained in relative pre eminence over the 
other four cities, and that Philadelphia, 
Boston and Baltimore have been brought 
comparatively to a nearly equal footing, 
while New Orleans takes the position of 
the weakest among the rivals Had the 
domestic or coast tonnage entered into 
this comparison New Orleans would 
doubtless have made a much different 
showing. A statement is given showing 
the relative growth of the tonnage entered 
at the port of New York, and at the other 
ports mentioned during the five years 
from 1856 to 1860 inclusive, as compared 
with the five years from 1876 to 1880, 
from which it appears that there has been 
an increase in the tonnage entered at New 
York in the latrter period of five years of 
212 per cent, and an increase ol 124 per 
cent in the tonnage entered at the other 
four ports, the increase at New York 
amounting to 19,682,089 tons, and that of 
the other ports combined 10,385,346. 

Notwithstanding the relatively small 
amount of tonnage shown by New Orleans 
a table giving the values of the exports 
from these five cities during the twenty- 
five years shows that in 1880 the value of 
the exports from New Orleans was greater 
than any of the above ports excepting 
New York. The value of the exports for 
1880 were from New York $388,441,664, 
New Orleans $90,249,874, Baltimore $76,. 
220,870, Boston $58,023,587, Philadelphia 
49,612,195. From a comparison of the 
value of domestic exports during the two 
periods of five years ended June 30, I860, 
and June 30, 1879, there appears to have 
been an increase during the latter perjod 
Of 225 per cent in the value of the exports 
from New York, and an increase of 71 per 
cent in the value of the expyorts from the 
other four ports mentioned. The increase 
in the value of the domestic expoiis from 
New York amounted to $1,150,638,046, 
and the increase in the value of such ex- 



ports at the otner ports amounted to only 
$457,512,633. 

During the two periods of five years 
ended June 30, 1860, and June 30, 1880, 
there appears to have been an increase 
during the latter period of 74.2 per cent 
in the value of imports at New York, and 
an increase of 14.4 per cent in the value 
of the imports at the other ports referred 
to. The increase in the imports at New 
York amounted to $772,224,535, and the 
increase in the value of the imports at the 
other porte amounted to $62,529,028. 

The comparison made between a period 
of five years before thawar with a period 
of five years since the war is especially 
desirable as it indicates traffic uninter- 
rupted by blockades and other disturbing 
influences of war times. In all of these 
figures the strength with which New 
York maintains her supremacy in foreign 
commerce over rival ports is strikingly 
illustrated. There is little doubt, how- 
ever, that changes will be made in the 
relative positions of some of these ports 
within the next few years. There has 
been in fact an apparent change during 
the past year not indicated of course in 
this report made up only to June 30, 
1880. The increase in the Mississippi 
river traffic witnessed during the past 
year has had no inconsiderable effect 
upon New Orlean's importance as a ship- 
ping point. BostoH meanwhile has expe- 
rienced an unusual activity in her ship- 
ping interests, stimulated by her greatly 
improved railroad connections with the 
West via the Hoosac Tunnel route and 
other lines recently established and pro- 
posed. The improvements in terminal 
facilities which are being made on the 

South Atlantic coast as well as further 
North and on the Gulf, are indicative of 
changes anticipated concerning the cur- 
rent of ocean traffic. 

^ ■ 

Pneumatic Engine. 



" "VlK-*-^";*! ' >*■ ^ .rl" 



An official trial of the Pneumatic Engine was 
made on Tuesday, December 27th, by order of 
Ck>l. F. K. Hain, General Manager of the Ele- 
vated Bailways. The trial was made on the 
Second Avenue, from 127th street to South 
Ferry. The train consisted of four cars. The 
engine at htarting was chained with air under 
600 pounds pressure. The machine has stood 
the test of 750 pounds pressure. The inventor, 
Mr. Hardy, who was engineer, said that he 
wanted to be on the safe side. Col. Hain, H. 
L. Grant and other officers and stockholders 
were on the train, but it was run as a r^;ular 
passenger train. The train arrived at South 
Ferry about two minutes late. Col. Hain said 
that the second trial was much more successful 



AMERICAN RAILROAl) JOURNAL. 



i 



; 



thaiT'the first. Better time was. made; and, 
whereas on the first trip only 150 pounds pres- 
sure remained at the end of the trip, on the 
second there were 190 pounds pressure, enough 
to run the engine alone back to Sixty-seventh 
street. Col. Hain said that the trial was a suc- 
cessful one, but some mechanical difficulties 
would have to be overcome before the placing 
of pneuinatic engines on the elevated railways 
could be considered. 

The motor, which was built at the Baldwin 
Locomotive Works, does not differ from an or- 
dinary steam motor to the eye of the unobserv- 
ing traveler. Instead of the usual boiler, how- 
ever, four large air reservoirs are used, three 
feet in diameter, made of steel half an inch 
thick and having a tensile strength of 75,000 
pounds. These reservoirs contain 4(J0 cubic 
feet of air compressed to 600 pounds to the 
square inch, and are all connected, the only 
advantage of four reservoirs over one large one 
being a better distribution of gravity. By run 
uing the triple riveted seams around the boilers 
spirally instead of longitudinally it is claimed 
that the strength of a solid steel tube is ob- 
tained. The air, heated by 240 degrees f^hren- 
heit by passing through hot water, and moist- 
ened that it may act as a lubricator, passes 
into the steam chest at a pressure of 120 
pounds, which is regulated by reducing valves 
and safety gauges. In running down hill or 
coming to a stop the cylinders can be converted 
into air pumps, storing away energy that will 
act as a spring in starting the engine ; while 
by the turning of a valve and reversing the 
lever the cylinders will work as air-bi^akes. 



PERSONAIi. 



Jay Gould has been elected President of the 
Wabash, St. Louis and Pacific Railway, in the 
place of Solon Humphreys resigned. 

Hen'b-s C. Wextwobth, for 20 years General 
Passenger Agent of the Michigan Central Rail- 
taod, died, at Chicago, on the 28th ult. . 

Robert A>n>ESSON has been elected Superin- 
tendent of the Western and Atlantic Railroad, 
' ia place of Wm. McRae resigned. Joseph M. 
Brown has been made General freight agent. 

F, D. UsDEKwooD has been appointed Super- 
inteiident of the Southern Minnesota division 
<$i &e Ciicags>, Jlslwaakee a&d St. V&ni Rail- 
way. . . 

T. W, Fredkricks, Superintendent ot the car 
department of the Pardee car and machine 
works, at Watsontown, Penn., has resigned his 
position. 

A. B- Wood, has "beeu appoiuted assistant to 
General Manager C. W. Smith, of the Chesa- 
peake and Ohio Railway with his office in 
Richmond. ' v 

died in Philadelphia, on the 20th nJt, aged 53 
years. He was wf-U-kso>S'ii in connection with 
railroad matteTs iiv the 'West and South. 

HssBX FiSK has been appointed manager of 
the confederated Jiaes of the Cole system, viz: 
the Shen&adoah Valley, the Norfolk and West- 
em, and the East Tennessee, Virginia and 
Georgia with headquarters at Lynchburg, 

Tbx CaBftda and Atlantic Railroad Company 



lias appointed Walter Shanly, Chief Engineer 
of the Company, The portion of the line be- 
tween High Palls and Goteau, it is expected, 
will be opened for pasjsenger and general traffic 
on the 10th inst. 

The Governor of Vermont has appointed 
Hon. Sitmael M. Gleason, of Thetford, Hon. 
Albert Dwinell, of Calais, and Col. Mason S' 
Colburn, of Manchester, as a State Board of 
Listers to appraise railroad property under an 
act of the Legislature passed at its last session. 

Col. Wm. M. Wadlky has been re-elected 
President and W. G. Raoul, Vice President of 
the Central Railroad Company of Georgia. In 
the election for directors four new members 
were chosen, viz : Messrs. Alexander, Phintzy, 
Falligant and Maclean. The election changes 
in a measure the policy of the company, and 
will insure the issuance of income bonds of the 
Ocean Steamship Company, and declares a 



dividend 
stock. 



of 4^ per cent on certain common 



CONSTRUCTION. 



the 



Six miles of track had been laid on 
Georgia Pacific Railroad up to the 3d inst. 

The Northern Pacific Railroad was completed 
on the 2oth ult., to the Rosebud river, the scene 
of the Custer Massacre. 

Th£ grading on the extension of the San 
Luis Ohispo and Santa Maria Valley ^Railroad 
between Arroyo Grande and Central City, Cal., 
is progressing rapidly and satisfactorily to all 
concerned, and will be completed in three or 
four weeks. * 

The Shenandoah Valley Railroad Company 
has established a bureau of construction, with 
headquarters in Philadelphia, and Mr. Julius 
C. Holmes, a prominent and enterprising West 
Virginia contractor, has been appointed chief 
of construction. 

The Vicksburg and Ship Island and the 
Memphis and Vicksburg railroads have leased 
600 penitentiary convicts from the Mississippi 
State Board of Public Works, which are to be 
divided between the two roads and put to work 
near Vicksburg. 

A DISPATCH from Dover, N. H., says that 
owing to dissatisfaction at the existing freight 
rates on the Eastern and Boston and Maine 
Railroads, it is proposed to build a branch line 
of railroads, six miles in length, connecting 
with the Rochester and Nashua Railroad. 

The San Diego Union says that about 37 miles 
of the California Southern Railroad have been 
completed. Thqre are 57 bridges, the largest 
being 65 miles feet high and 250 feet long. 
The heariest gcade is 116 feet, and the deepest 
cBt 40 l&ei. • , . . • 

The Missouri Pacific Railroad commenced to 
send out cars to Waco, Texas, on the 1st inst. 
The line will also be completed to Taylor, 
about 80 miles beyond, where connection will 
be made with the International and Gt. North- 
ern Railway. 

A CHARTER has been obtained for a narrow- 
gau^ railroad to run frc m the line of the Buf- 
falo, New York and Philadelphia Railroad at 
Aurora, New York, Southeast to Williamsport, 



Pa, Work will be commenced on the road as 
soon as possible. "" ' ^" ?^ -: ^i^; / 1 

Work was commenced on the 2d inst., at 
Meridian, Miss., on the New Orleans and 
Northeastern Railroad, owned by the Erlanger 
syndicate. It is claimed that when this road 
is completed it will greatly shorten the route 
between New York and New Orleans. 

The first locomotive ever seen in Newfound- 
land is busily engaged ballasting the new rail- 
way at the St. John's end, a mile of which was 
completed up to Dec. 14th. The road was 
finished for a mile and a half at the Harbor 
Grace end up to the 10th of Dec, and opera- 
tions were being rapidly pushed. 

Connection was made between the St. Louis 
and San Francisco Railway, and the main line 
of the Atchison, Topeka and Santa Fe Railroad 
at Halstead, Kansas, on the 2d inst. The ex- 
tension from Wic*hita to Halstead, just com- 
pleted, is about 25 miles in length, and passes 
through a rich country. 

The new Fergus Falls and Black Hills 
Branch of the Northern Pacific Railroad, 64 
miles from Wadena, on the main line, was 
opened for business on the 28th ult.. At the 
latter point the branch connects with the St. 
Paul, Minneapolis and Manitoba Railroad. The 
work toward the Black Hills from Fergus Falls 
is being pushed ahead vigorously. ^ 

The track of the St. Louis, Jerseyville and 
Springfield Railroad reached Jersey Landing 
on the 30th of December, and the Mississippi 
river on the following day, thus practically se- 
curing the subsidy of $100,000 and the right of 
way provided the road reached the river in 
1881. Soon Grafton will be reached when 
$10,000 more of subsidy, will be secured. 1 . ,. 

Connection has been made between the Dan- 
ville, Olney and Ohio River Railroad and the 
Chicago and Eastern Illinois ^Railroad thus 
securing entrance to Chicago. The directors 
decided to extend the road this winter to a 
connection with the Louisville, New Albany 
and St. Louis Railroad, and during 1882 to 
complete the system to the Ohio river at Pad- 
uca, Ky. t 

The Mexican Government has accepted 191 
kilometres of the Mexican Central Railroad, 
and the line to San Juan del Rio, 116^ miles 
from the City of Mexico, is now in operation. 
San Juan del Rio has a popxdation lOof ,000. 
The line is graded and masonry work com- 
pleted for about 225 miles from the City of 
Mexico. General Manager Fink says that the 
line will be completed to Leon, 262^ miles, 
Aug. 31, 1882. 

The Louisville, New Albany and St. Louis 
Air Line Railroad has been completed from Mt. 
Vernon, to Louisville, Ky., with the exception 
of a small gap between Mt. Carmel, III., and 
New Albany, Ind., which will be finished by 
the 1st of May. The original road, known as 
the New Albany, Mt. Carmel and Alton railroeui 
was projected 40 years ago by Gen. Wm. Pick- 
ering, and the road was graded ready for the 
track from Mt. Carmel to Albion, when the 
work was suspended. It was among the first 
railroads projected in the State of Illinois. j- 

The new line to California via El Paso, Tex., 



■\ .. 



I. 



.*W>iL. ^^.ik.*. 



••^e?^- 



I 



:. ■■■.'i'. 



AMERICAN RAILROAD JOURNAL. 



composed of the St. Louis, Iron Mountain and 
Southern railway, the Texas and Pacific railway 
and the Southern Pacific railroad was opened 
on the Ist inst. New palace sleeping cars, built 
expressly for this line, leave St. Louis Union 
Depot daily at 9 A. M., and run through to 
Demiilg without change, where direct connec- 
tion is made with the Southern Pacific's Cali- 
fornia express, which has palace sleepers run- 
ning through to San Francisco without any 
change — only one change of cars from St. 
Louis to San Francisco. 

The route selected for the Canadian Pacific 
Railway from Callendar to Prince Arthur's 
Landing, North of Georgian Bay and Lake 
Superior, instead of running in a Northwester- 
ly direction towards Moose River and Long 
Lake, as at first projected, will run from Cal- 
lendar, North of Lake Nipissing, in a South- 
westerly direction, to Spanish River, near Lake 
Huron ; thence to Mississaga River ; thence 
Northwest to Michipicoton River, skirting the 
shore of Lake Superior to Pic, and crossing the 
Red River at Red Rock ; thence, following the 
shore of Lake Superior, to Fort William. 



The Coal Trade. 



The l«ading coal carrying companies make 
the following reports of their tonnage for the 
week ending December 24, and for the year to 
same date, compared with their respective 
amounts carried to the same date last year: 

Week. 1881 1880 

Reading Railroad 181,191 624.351 423.573 

Qchuylkill Canal 27,655 

Lehigh Valley 132.464 470.183 314.008 

Delaware, Laekawanna and 

Western 97,818 4,271 ,953 3,479,628 

Shamokin 1.041,935 894.109 

Central R. R. of New Jersey. . 94,235 4,382,763 3,735,609 
United R. R. ot New Jersey. . 41,536 1.591,978 1,160.193 

PennsylTania Coal 27.620 1.406,058 1,110,432 

Delaware and Hudson Canal. . 81,442 3,581.781 2,002,807 
Huntingdon and Broad Top 

MounUin 498,282 403.557 

Penn. and New York 31,766 109.632 81,309 

Clearfield, Pa 45.284 2.364,169 1.711.098 

The total tonnage of anthracite coal from all 
the regions for the weak ending Dec. 24, as 
reported by the several carrying companies, 
amounted to 629,240 tons, against 349,681 tons 
in the corresponding week last year, an increase 
of 279,579 tons. The total amount of anthracite 
mined for the year is 28,865,867 tons, against 
23,931,541 tons for the same period last year, 
an increase of 4,934,126 tons. The quantity of 
bituminous coal sent to market for the week 
amounted to 90,982 tons, against 66,503 tons, 
in the corresponding week of last year, an in- 
crease of 24,479 tons. The total amount of bitu- 
minous mined for the year is 4,918,943 tons, 
^gainst 4,303,403 tons for the corresponding 
period l&6t yewr, an increase of §15,540 toss. 
The total tonaage of all kinds of eoai for the 
week is 720,222 tons, against 416,164 tons in 
corresponding week last year, an increase ot 
304,058 tons, and the total tonnage for the coal 
year is 33,784,610 tons, against 28,234,944 tons 
to same date last year, an increase of f ,549,666 
tons. The quantity of coal and coke carried over 
the Pennsylvania Railroad for the week end- 
ing December 24 was 200,723 tons, of which 
145,610 tons were coal and 55,113 tons coke 
The total tonnage for the year thus far has been 
9,017,167 tons, of which 6.651,276 tons were 

coal and 2,365,891 tons coke. These figures 

.-.-**.-. 



embrace all the coal and coke carried over the 
road east and west. The shipments of bitu- 
minous coal from the mines of the Cumberland 
coal region during the week ended December 
24 were 43,518 tons, and for the year to that 
date 2,197,715 tons, an increase of 135,000 tons 
last year, No exact comparison can be made, 
as the report for the last Saturday in Decem- 
ber, is usually omitted, and a report made for 
the 7, 8, 9, 10 or 11 days ending December 31. 
The coal was carried to tidewatei: as follows : 
Baltimore and Ohio Railroad— week, 34,658 
tons ; year, 1,415,613 tons. Chesapeake and 
Ohio Canal— week, 1,586 ton8; year, 505,339 
tons. Pennsylvania Railroad— week, 7,067 tons; 
year, 273,163 tons. The coal was brought from 
the mines as follows: Cumberland and Penn- 
sylvania Railroad — week, 33,984 tons; year, 1,- 
903,428 tons. George's Creek and Cumberland 
Railroad— week, 6,116 tons; year, 207,824 tons. 
Baltimore and Ohio Railroad — week, 1,401 tons; 
year, 67,293 tons. West Virginia Central and 
Pittsburg Railway — week, 1,691 tons; year, 10,- 
235 tons. The Reading Railroad shipment for 
last week, ending December 31, was 134,900 
tons, of which 31,500 tons were sent to and 
28,000 tons shipped from Port Richmond, and 
17,500 tons sent to and 18,900 tons shipped 
from Elizabethport. — Phil. Ledger, Jan. 2. 



Cincinnati Iron Market. 



Office of E. L. Harpee <k Co. 

Cincinnati, Jan. 3, 1881c 

The inquiries during the past week have 
been verj-^ numerous and a lai^e number of 
orders have been booked. Business has been 
better at this season of the year than it has 
been for years past. A clean advance of $1.00 
per ton has been realized on nearlj- all grades. 
Stocks are light and the tendency is towards 
still higher prices. The outlook for the New 
Year is very promising for a good business. 
We revise quotations as follows both for pro- 
ducers and consumers. .. 

We quote as follows : 

FOtrNDBT. 

No. Moa. 

Hanging Rock Charcoal 1 29 50@30 75 4 

Strong Neutral Coke 1 27 00rd28 00 

American Scotch 1 26 50@27 00 

OBEY FOBOE. 

Neutral Coke 26 60@26 60 

Cold Short 24 00@25 00 

CAB WHEEL AND KAIXEABLE. 

Hanging Rock Cold Blast 36 00^38 00 

Warm Blast 30 00r<i32 00 

Lake Superior 1 and 2 32 00/433 00 

Lake Superior 3 to 6 34 00(336 00 

Southern Car Wheel 36 00^40 00 



Imports of Dry Goods at New York. 

The Imports of Foreign Dry Goods at New 
York for the month of December, were : 

ENTERED FOR CONSUMPTION. 

1879. 1880. 1881. 

Manufs. of wool $869,921 $588,613 $969,304 

Manufs. of cotton... 1,176,038 1,582,716 1,657,(»17 

Manufs. of silk 1,297,807 1,283,844 1,871,421 

Manufs. flax 797,847 630,436 764,564 

Miscell. dry goods... 483,887 512,262 538,240 

Total ent. for con- . 

sumption $4,625,500 $4,597,771 $5,800,546 

WITHDRAWN FROM WAREHOUSE. 

1879. 1880. 1881. 

Manufs. of wool $278,961 $384,889 $239,081 

Manufs. of cotton... 396,281 235,541 ,246,025 

Manufs. of silk 185,004 307,313 257.99'i 

Mauufa. of Bax 298,012 280,042 204,056 

Miscall, dry goods.. 129,709 200,298 110,900 

Total withdr'n from 

warehouse $1,287,967 $1,408,083 $1,057,054 

Add ent. for con 4,625,500 4.597.771 5,800,646 

Total throws os the 

market $5,&1S,467 $6,<»5,85i f6,85T„600 

, ENTERED FOR WAREHOUSING. 

1879. 1880, 1881. 

Mauufg. <sf wcMi 1275,712 $S85,S0i $341,660 

Manufs. of cotton . . 365.180 530,733 321,061 

Manufs. of silk 290,775 368,124 384,089 

ManufB. of flax.... 316,398 291,059 191,046 

Mis. dry goods 145,897 242,151 275[o98 

Total ent, for ware- 
house tl.393.9€2 fiJ37.968 $1,412,964 

Add entered for con- 
sumption 4,625,500 4,597,771 5,800,546 

Total entered at port $6,019,662 $6,335,739 f7,3i3^450 

The Imports of Foreign Dry Goods at New 
York for the years 1879, 1880 and 1S81 were : 

ENTEEED FOE CONSUMPTION. 

1879. 1880, 1881. 

Manufs. of wool. . . $20,773,785 $28,176,532 $24,536,605 

Manufs. of cotton 18,813,862 26,211,471 25,087,821 

Manufs, of Bilk 29,129,588 35,342.349 34.617 264 

Manufs of flax.... 14,706.100 18,823,968 16.40l[383 

Mis. dry goods 8,126,265 11,289,800 10,893,947 

Total entered for 

consumption . . . $91,549,600 $119,844,120 $111,537,026 

^ 

A lADT was once asked why she always came 
so early to church. "Because," said she, "it 
is a part of my religion never to disturb the 
religion of others." ;;>.vr ' i*- S ';i 



New York Central and Hudson River 
B.ailroad. 



by 
to 
at 



The following is the general balance-sheet of 
the New York Central and Hudson River Rail- 
road Company, as reported to the State Engi- 
neer, and not contained in the statement recent- 
ly published: j - 

DEBPT. 

Railroad Equipment — Cash expended 
former companies and by this company 
date, $110,000,216.90 ; certificates issued 
time of consolidation in 1869 and afterwards 
converted into stock representing additional 
cost of road and equipment to the new com- 
pany, $31,157,904 ; total, $141,248,120.90. 

Ownership in Other Lines— Hudson River 
bridges, $1,739,372.16; Dunkirk, Alleghany 
Valley and Pittsburgh Railroad, $2,290,621.09 ; 
Geneva and Lyons Railroad, $331,889.93 ; total, 
$4,991,883.18 ; grand total, $146,240,004.08. 
Real estate in New York and Troy, outside of 
road, $1,173,500.36, advances on Harlem con- 
struction account, $277,513.49 ; company's own 
stock held, $184,200 ; stock in the Troy TJaioa 
Railroad, $15,000 ; stock in Merchant's Des- 
patch and Transportation Company, $730,575 ; 
stock in Union Pipe lines, $22,749.80 ; stock in 
the Pittsbui^ and Lake Erie Railroad, $100.- 
000 ; stock in the New York Central and Niaga- 
ra River Railroad, $28,100 ; stock and bonds of 
the Syracuse, Oeneva and Corning Railroad, 
$376,010 ; fuel and supplies on hand, $1,624,- 
358.28 ; cash on hand, $248,913.87 ; station 
balances, $864,776.52; connecting railroad 
balances, $316,075.24; United States bonds, 
$558,634.05 ; equipment on Harlem line, $404,- 
394.22 ; sundry open accounts, $33,191,15 ; 
grand total, $153,210,680.83. 

'■'"■ -y/ '^: -)''"' y-' cbedit. ' ^ : V-'^' 

Capital stock, $89,428,300 ; funded debt, 
$43,473,033.33 ; unfounded debt, $5,556,682.81 ; 
total, $138,458,016.14 ; balance, previous vear, 
$13,216,847.98; surplus this year, $754,483.60 ; 
premiums on bonds sold, $778,1^ ; profit from 
sale of invested securities, $33.{]W ; total, $14,- 
782,482.58. Debit— Internal revenue tax on 
undivided profits for year ending September 
30, 1869, $29,817.89. Total, $14,752,664.67; 
grand total, $153,210,680.83. 



■ M,.w\^mfm.m\^imivmj^VgtV. i^gi* .,^« fi^^j.i J(J iW^l.'-(JWip_»,4}|(|(5P|^p^5JP^^ 



6 



AMERICAN RAILROAD JOURNAL. 



■■ • '• . •," '; ' .■■■. 1 ' '■» ' 



Kew York Stock Exchans^ 

J (Thnnday's quotations follow monej article.) 
Cloting Price* for the week ending Jan. 4. 

Th.29. r.30. S»t.31. M. 2. TU.3.W.4. 
Adams Express 146 

Albanj and Susq 130 

1st mortgage 

mortgage 



ad 



90X 



92>i 



93 



98 Ji 
9-iH 



625f 
98 Ji 

91)^ 
ll8>i 



100 
61 

89?i 



107>i 107 
92 >^ 92 



90^ 



6\y, 

90 ?i 
118M 



91?i 
113 



26?i 26 .... 28 25>i 
131 128% 129 Ji 



133 134)^ 



American Express. 

Atlantic k Pac. Tel 

Burl,, C. R. ft Nor SIX 

Ist mortgage 5e.. 100 

Canada Southern . . 52^ 
Ist mortgage guar 98^ 

Central of N. Jersey 91 3S^ 

1st mort. 1890 

7b, consol. ass 

7s,eonTertiblea8S 

7s. Income 

Adjustment 107^ 

Central Pacific 91 >i 

6a, gold 

1st M. (San Joaq) 

IstM. (Cal. & Or.) 

Land grant Cs ... 105 

Chesapeake k Ohio. 25% 

Chicago and Alton. 130 

Preferred 

Ist mortgage 122 

Sinking Fund 

Chi., Bur. h Qnincy 13C% 136% 136^ 
7s. Consol. 1903 

Ohl.. Mil. * St. Paul 106% 107 ?i 106 >i 104% 106% 

Preferred 119% 120% 119% 119% 119% 

Ist mortgage, 8«. 133% 

2d mort., 7 3-108 120 

7s, gold 

1st M. (La. C. dlT) 

IstM.I. AM.diT.) 

Ist.M. <L & D. ext.) 

IstM. (H.&D.div.) 117 Il4x 

, l8tM.(C.&M.dir.) 125 110 

Coasoltdated S. F. 123% 123% 

ChL*5rortliw«»ter» 126 126% 125% 124.^ 125% 

Preferred 139% 140 138% 137 138 

l*t la&rtfag* IIQ IIQ 

• Sinking Fund 6b 109 

Consolidated 78 131 

Coasoi. Gold bo'ds 124 123% 

Do. r^g 124 123 

Chi., a. rsl. 4 Pac. 133 132% 132% 131% 131% 

8»,1917, c 130 126*, 

CleT.,CoI..Cin.&rnd. 84% 84 83% 81 82% 

Isfc mortgage 

Olev. & Pittsburg gr 

7s, Consolidated 

4th mortgage .... 

Col..Chi..&lnd.Cent. 21% 21% 21% 20 20% 

1st mortgage 

2d mortgage 

Del. « Hud Canal. 108 108% 107% 107% 107% 

fleg. 78,1891 

Beg. 78.1884 .103% 

78, 1894 

Del. ,Lack.& Western 127% 127% 127% 125% l26% 

2d mortgage 78 

?«, C<JS«oi. 18^7 

ErieBailway 

let mortgage 

Sd m'srt. 5e, est I06x 

. 3d mortgage 106 106 

4tb mort. 5s. ezt 

5th mortgage., 

7b, Consol. gold 129% 129% 129% 

Great West. Ist mort 

2d mortgage 

Hannibal & St. Jo. , 95% 95% 95 95% 95 

Preferred 113% 113 ll.i% 109% 10-J 

88, Convertible 

Houston h Tex. Gen 85 • 

lat mortgage . 

Illinois Central... 131 131% 130% ....^ 129%_129_% 

LakeShoreftMichSo 115% 116% 112%x 110 ^112% 

. Conscl. 7s 134% 

' Conaol. 78, reg... 126 

2«» Consolidated 12j% 

Leh. A W. B. 7b, Con 

Long Dock bonds.. 

LouisTiUe A Nash. 101% 101% 101% 98'^ 99 

7s. Consolidated 

Manhattan 64% 54% 54 63% 50 

Met. Elerated 85% 86% 86% 84% 87 

1st mortgage 103 103 103 100 99% 

Michigan Central.. 87% 87% 86 .... 83% 86 
7s, 1902 124 124 

JJKa O* vC ^1 • X* XBwf Oa f ••••• ••■•• ••••• ••■■• ••••« ••••• 

Morris A Essex 121% 121% 120% 121% 

1st mortgage 

2d mortgage . 

7sof 1871 122% 

7s, Oua>ertibIe.. . 

7s, Conso'.uated . 123«i 123% 

M-\[.Oen.AHud.B. 131% 132 131 129% 130% 

ll.l.I'. iat9 103% 



106 

118% 115x 115 



40% 

98 

99% 



6s, S.r., 1887 

1st mortgage 138 .... 

Ist mortgage, reg 

N. Y. Elevated 106 J^ 106 

1st mortgage 

N. Y. A Harlem 205 

Preferred 

iBt mortgage 

Ist mortgag^, reg 

K.Y., Lake Erie AW 41% 41% 

Preferred 90% 91 

2d Consolidated.. 100 99% 

New 2d 58 fund . . 97% 

N.Y.,N.Hav'nAHart 172 

North Mo. Ist mort 123 

Northern Pacific... 37% 37% 36% 
Prelerred 76% 77% 75% 

Ohio A Mississippi. 36 .37% 36% 

Pretercl. 

2d mortgage 

Consolidated 7s 

Consol. 8. Fund 120 

Pacific Mail S. S. Co 41% 42 41 

Pacific R. R. of Mo 

1st mortgage 107% 

2d ihortgage... .. 113 llOx 

Panama 

Phila. A Beading.. 69% 69 67% 65% 66% 

Pltts.Ft.W.&Chi.gtd 134% 134% 

Ist mortgage 

2d mortgage 

3d mortgage 



39 40^ 

84 82% 

98% 99% 

170% 

35% 35% 

73% 75 J^- 

35% 34% 



J 9% 40% 



Pullman Palace Car 123 135 135 

Quicksil'r Min'g Co 12% 13 

Preferred 59% 69 

St. Louis A San Fran 39% 41% 41 

Preferred 58 58% 60% 

Ist Preferred 104 104% 

. . 47 



132 133 



57 



60% 
105 



58% 



St. L., Alt'n A T. H. 

Preferred 

1st mortgage 

2d mort. pref 

Income bonds. 102% 

St. L., Iron Mt. AS 

Ist mortgage 116% Il7 

2d mortgage 108 

Toledo and Wabash 

Ist mortgage 108 

2d mortgage 109 

7s, Consolidated 

St, Louis Division 107% 108 .... 

Union Pacific 116% 117% 116% 115 116% 

Ist mortgage 117% 117% 117% 114%x 

Land Grant 78... 113% 

Sinking Fund 88 

United States Ex... 77% 77 77 76% 

Wabash, St. L. A Pac 36% 3S 37 34% 36 

Preferred "68% 70% 68% 66% 68% 

New mort. 7s 

Wells-Fargo Ex 129% 

Western Pacific b'ds 

Western Union Tel. 
78, S.F. con v., 1900 

FsoEBAL Stocks : — 

U.S. 4s. 1907, reg... 117H .....^ 117% 117% 

U. S. 4b, 1907, coup. 118% 118% 117% 117% 

U. 8.4 %8, 1891, reg 114% 

U.8.4%8.1891,coup 114% 

U. S. 6e, 1881, reg 

U. S, 5e, cont'd at3% 103 103% 1 )2% ioi ji 

U. 8. 68cont'dat3}.i 101% 101% 

Dt. of Col. 3-658, reg 

Dt.ofCol.3-65s,coup 109 



79% 80% 79% 77% 79 Ji 



Boston Stock Exchange. 

Pricet for Ike Week Ending Jan. .4 

Th.29. P.30.Sat.31. M.2. Tu.3. W.S. 

Atch.,Top.ASan.Pe. 94% 94% 94% 93% 93% 

1st mortgage 120 

2d mortgage 

Land Qrant 7s. 117% in" 

Boston A Albany.. 161% 164 162% 

7s reg 

Boston and Lowell 106 

Boston A Maine 149 

Boston A Providence 161 

Bo8'n,Hart.A Erie7s 68% 69% 69 64% 63% 

Burl.A M0.R.L.G.7S 

Burl.A Mo.R.inNeb 

6s, exempt 115 

48 '86* !.!!.■ 

ChL.Burl. A Quincy 136% 137 135% 133% 133% 

7s • 

Cin.,8andAClev(|50) 28% 28% 28% 27% 27% 

Concord (160) 100 

Connecticut River .' 

Eastern 36 37 ^i 37% .36% 

New 4% Bonds... 105% 106 105% 105^ 

Fitchburg 133 .... 135 134 

Kan.C. Top. A West 

Michigan Centra^ 1 



61 63 
118 

104% 104% 



N.Y. A New England 66% 66 64 

7s 117% 117% 118 

Northern N. H 105 .. 

NorwichA Worcester ' 

Ogden A Lake Cham ..' 

xreierreu ......... ..... ..... ..... ..... ..... ..... 

OldColony 125% 125 125% 124% 



Ph.,Wil.ABalt.{$50). 
Portl'd,Saco A Ports 
Pueblo A Ark Val... 



63% 



62 



78. 



132 126 

117% 116% 115% 



Pullman Palace Car 125 131 

Union Pacific 117 118 

68 114 

Land Qrant 78 Ill ... 

Sinking Fund Ss. 120% 121 

Vermont A Canada 

Vermont A Mass 

Worcester A Nashua 

Cambridge (Horse) 

Metropolitan(Hor8e) 

Middlesex (Horse) 

Cal.AHeclaMin'gCo 237% 238 239 

Quincy 49% 50 51% 52 53 



Philadelphia Stock Exchange. 

Closing Prices for Uie Week Ending Jan. 3. 

W.28. Th.29. F.30. Sat.31. M.2. Tu.3. 

AUegh'y Val. 7 3-lOs 123^^ 

7s, Income 52 52% 

Camd'nA Am.6s, '83 

68,1889 

Mort. 68,1889 114 ." 

Camden A Atlantic 

Preferred 129 

1st mortgage 

2d mortgage 

Catawiasa 

Preferred 63 

7s, new 52 

Del. A Bound Brook 125 

7s 

ElmiraAWilliamsp't 

Preferred 



28 



44 43% 43% 43 



112% 

in* 

61% 



38 
77 
61% 



37% 
77% 
61% 



36% 

75% 

61% 



36% 
73% 
60% 



Hunt. A B. Top Mt 

Preferred 27% 

2d mortgage 

Lehigh Navigation . 43 % 

68,1884 

Gold Loan Ill 

Railroad Loan 

Conv. Gold Loan 

Consol. Mort, 7b. 117 

Lehigh Valley 61% 61% 61% 

Ist mort. 68, coup 121 120 

Ist mort. 68, reg ;*. 

2d mort. 78 

Consol mort, 68.. 117 

Consol.mtg.68,reg 117% ,.... 

Little Schuylkill 57 57 

MinehillASch.Hav'n 60%x 

North Pennsylvania 60 59% 60 60 69% 

iRt mortgage 6s . . 108 / •. 

2d mortgage 78 '. 

Genl. mtg.78,coup ■ 

Genl. mtg. 7s, reg 

Northern Central.. 51 ^^ 51 • 

5b lOO'i •.. , 

Northern Pacific... 37 
Preferred 76% 

i'ennsylvaniaR. R. 01% 

1st mortgage 

<«en'l mort 

Gen'l mort reg 

Consol. mort. 6s 

Consol. mort. reg 

Pa.State 68 2d series 

do 3d series 

do 58, new 

do 38 

Phila. A Reading. . . 34^ 

1st mortgage 68 

7s of 1893 

78, new convert 

Consol. mort. 7s.. 125 

Consol. mort. reg 

Gen'l mort. 6s.... 98 97% 98^ 

Philadelphia A Erie 19% 

1st mortgage 58.. 105% 

2d mortgage 7s 

Pittsb.,Cin.ASt.L.7fl 

Pitts.,Titusv.ABuff. 21% 21% 21% 21% 
78 102% 

Schuylkill Navi't'n 

Preferred 

68,1872 

68,1882 89 

United Co. of N. J.. 185 185% 185 185 

Hestonville, (Horse) 

Chestnut A Wal. (do) 

I'lroen A Coates (do) 



34% 34% 33% 32% 



125 125 



98% 



98% 



30% 



13 



.:■■ ■:.'■ ►. 



• ^ASL^.^:^i:ii,:*^ l^v^i:^>'^-.!J.^*1n 



,.il'...ii 



J'rl^'jti^ifjJt l' 



.':U 



~ " *. . ' *" , 



AMERICAN RAILROAD JOURNAL. 



n 



; , :_ Baltimore Stock Exchange. 

Closing Prices f»r the Week Ending Jan. 3. 

W. 28.Th.29. F.30. Sat.31. M.2. Tu. 3. 

Baltimore & Ohio 

68.1880 

' OSy lOOO ■•■■••••■•• ■■■•■ ••••• ••• •;• • • • ■ • • V* a • XV/ I 

Central Ohio ($50) 

1st mortgage > ,.. lOS^s 

. Marietta k Cincin'ti 126 

Ist mortgage. 78 125 125>^ 

2d mortgage, 78.. 106 v^ 106,^ ! 105 

3d mortgage, 88.. 62 6234 62 60^ 58^ 

Northern Cen. ($50) 51^ 

2d mort., 68 1885 

3d mort., 68, 1900 

68,1900, gold 113 

68,1904, gold 114 115 

Orange & Alex. 1st 

2d mortgage, 6a 

3d mortgage. 8s 

4th mortgage, 8s 

0.,Alex.&Manas's 7s 

Pitts.ft Connellsv.78 125 .' 

Virginia 68, Consol. 71. V4' 72 73^4' 12}i 69 Ji 

Oonsol. coupons 76 



76 73 /.... 73 



10-40 bonds 41'^ 42 



42 



41 



Defd Certificates 17>i 17 >^ 17 .^ 

Western Maryland 

1st M..end.by Bait 

2dM., do 

3dM., do 

Ist M. .unendors'd 

2dM.,end.Wa8hCo 

2d M., preferred 

City Passenger R R 41 



Iiondon Stock Exchange. 



-Closing Prices 



Dec 

Baltimore k Ohio (sterling) 114 

Cairo & Viencennes com. stock 42 

Do. preferred 5 per cent 91 

Central of N. J. $100 share 93 

Do. Cons. Mortgage 118 

Do. Adjustment Bonds lf>4 

Do. Income Bonds 104 

Det..O'd Haven & Mil. Equip bdsll^ 
Do.Con.M.5p.c.,till'83aft'r6p.cllO 

Illinois Central f 100 shares 137 

Lehigh Valley Cons, mortgage.. 115 

tjouisville & Nashville mort 6s . 105 

Do. Sink. Fundbd8(S.&N.Ala)104 

Do. capital stock $100 share8.105 

if. Y. Cent. & Hud. R. mt. bds. .138 

Do. $100 shares 142 >i 

Do mort. bonds (stg.) 123 

^.Y.,L*ke Erie k West., $100 shs 47'^ 
Do. 6 p. c. pref. $100 shares . . 96 
^Do. 1st Con. Mort. bds (Erie) .130 
"Do. do. Funded Coupon bds. 127 
1>0. ^d Consol Mort. bonds. . .103,'^ 
• '00. do. Funded Coupon bds. .101 

l)o. Gold Income bonds .' 95 

N.Y.,Pa.& Ohio Ist mort, bonds. 53 
Do. Prior Lien bds (sterling).. 105 

Pennsylvania, $50 shares 65 >-4 

Do. Con. Sink Fund Mort 120 

Philadelphia k Reading $50 shs 35 

General Consol Mortgage 116 

Do. Improvement Mortgage. .104 

Do.Gen.Mtg.'74,ex-d<!f' d conp.lOl 

Do. Scrip for the 6 def. J^coup. 95 

Pittsb., Ft. W. k Chi. Eq. bds... .105 

St. L. Bridge Ist mort. gold b'd.l26 

Do. Ist pref. stock 102 

Union Pa. Land Grant 1st. mtg.115 



AMERICAN RAILROAD JOURNAL. 



c. 9. 


Dec. 2. 


116 


114 


116 


45 


45 


50 


93 


90 


92 


98 


93 


98 


120 


118 


120 


109 


104 


109 


107 


104 


107 


114 


112 


114 


112 


no 


112 


138 


137 


138 


119 


115 


119 


107 


106 


108 


106 


105 


107 


107 


101 


103 


142 


137 


140 


14314 


141^ 142 >^ 


125 


123 


125 


47 ?i 


46% 


47 >i 


98 


96 


98 


132 


130 
127 


132 


129 


129 


104 Ji 


104 


105 


103 


101 


103 


100 


95 


100 


64 


53 >4 


34 >4 


110 


105 


110 


65% 


65 Ji 


65% 


122 


120 


122 


36 


33 >^ 


34 H 


118 


115 


117 


106 


103 


105 


103 


lOf 


102 


loa 


91 


98 


109 


105 


109 


128 


126 


128 


104 


102 


104 


119 


115 


.119 



Financial and Commercial Revie^v. 



Thttbsday Evening, Jan. 5, 1882. 

Money on call during the day, with stocks 
as collateral, was offered at six per cent, while 
on United States bonds 3@4 per cent was the 
quotation. Prime mercantile paper was 6@6J 
per cent. In the last hour the rate for call 
loans fell to 3 per cent. " ; ' ^^ - ^ ; ~ 

The actual rates for prime bankers' sterling 
were4.79i@4.80 and 4.83J@4.84, with cable 
transfers 4.84J@4.85J, and prime commercial 
bill8"4.78J@J, The actual rates for continental 
bills are as follows : francs, 5.25@5.25| and 
5.20@5.20| ; marks, 94@J and 94J@95 ; and 
guilders, 39|@40J, : 1\ ' ; /; ., .-v^^ : , 

According to the report of the receivers of 
the Philadelphia and Keading Railroad and 



Coal and Iron Companies, which has just been 
made public, the gftoss earnings of the Railroad 
Company for the fiscal year ending November 
30, 1881, (including the canals, the steam col- 
liers and the Richmond coal barges) were $20,- 
279,244.14, the working expenses $11,426,800 
70, and the net earnings $8,852,443.44 ; from 
which deduct rentals of leased lines $3,363,539 
79, and interest $5,346,315 — leaving a profit of 
$142,588.65. Compared with the previous year 
there was an increase in gross earnings of $1,- 
758,841.41, with an increase in working ex- 
penses of $1,279,652.64, making the increase in 
net earnings $479,188.77; to which add decrease 
in rentals of $2,619.23, together with decrease 
in interest of $169,158.34 — making the increase 
in net income $650 ,966.34. 

During the same period the gross earnings 
of the Coal and Iron Company were $15,007,219 
17, the working expenses $13,807,774.05, and 
the net earnings $1,199,445.12; from which de- 
duct interest $1.158,777.63— leaving a profit of 
$40,667.49. Compared with the previous year 
there was an increase in gross earnings of $1,- 
350,618.49, in working expenses of $639,056.61, 
and in net earnings $711,561.88 ; to which add 
decrease in interest $30,714.09— making the in- 
crease in net income $742,275.97. 

The total gross earnings of both companies 
for the year under review were $35,286,463.31, 
the total working expenses $25,234,574.75, and 
tbo total net earnings $10,051,888.56; less rent- 
als of leased lines $3,363,539.79, and interest 
$6,505,092.63- -leaving a profit of $183,256.14. 
Compared with the previous year there was an 
increase in gross earnings of both companies 
of $3,190,459.90, with an increase in working 
expenses of $1,918,709.25 — making the increase 
in net earnings^^l,190,750.65 ; to which add de- 
crease in rentals of leased lines $2,619.23, 
together with decrease in interest of $199,872: 
42 — making the increase in net income $1,393,- 

242.31/ ;-.---:■■:-■ V '■■■.■ ■■"^^'^ ■; ; V • ' 

The Cattawissa Branch shows an increase 
in earnings of $71,943.28, and the Philadelphia, 
Grermantown and Norristown Branch a decrease 
of $31,588.55. The North Pennsylvania Branch 
shows a profit over all rentals and expenses of 
$58,920.83, as against a loss for the previous year 
of $13,269.85, making a gain for the year of 
$72,190.68. The Delaware and Bound Brook 
Branch shows a profit for the year of $83,348. 13, 
as gainst a profit for the previous year of $31,- 
309.93, making an increase for the year of $52,- 
038.20 ; or taking the two branches, the North 
Pennsylvania and Delaware and Bound Brook, 
together, the joint operations for the year 
show a united profit over and above all rentals 
and expenses of $142,268.96, as against a profit 
of the previous year of $18,040.08. making an 
increase for the year of $124,228.88. The ex- 
press department shows a profit for the year 
of $125,988.39 as against $102,363.09 for 1880. 
The total amount of the floating debt of both 
companies, receivers* certificates and arrears 
of overdue interest for which either no provi- 
sion has yet been made or for which provision 
being made at a lower rate by the receivers, is 
as yet unaccepted by creditors, outstanding at 
the close of the fiscal year ended November 
30, 1881, were as follows : Floating debt. 
$9,682,293.43 ; receivers' certificates and obli- 



gations, $2,386,457.64 ; arrears of interest, in- 
cluding January, 1882, coupons of general 
mortgage and of scrip. $2,083,587.75. The 
above ^ure^ do not include arrears of canal 
rentals as yet unpaid, amounting to $270, 180, 
nor the unsettled claims for losses upon old 
iron contracts, referred to in the report of the 
receivers made July 15, < 881. 

By referring to the statement of the Secretary.' 
of the Treasury in another column it will be 
seen that the total debt of the United States 
on the 31st of December, 1881, amounted to 
$2,018,869,697.85, less cash in the Treasury 
$253,377,980,76, leaving net $1,765,491,717.09. 
Since the 1st Dec. the debt has been reduced 
$12,793,623.56. and since the 1st of July last 
the reduction has amounted to $75,107,094.89. 
Of the bonded debt $250,000,000 bears 4i per 
cent interest, $739,347,800 bears 4 per cent, 
$551,186,800 bears 3^ per cent, and $14,000,000 
bears 3 per cent. Interest has ceased upon 
$11,528,265.26, and $437,270,212.92 bears no 
interest, being in the shape of circulation, cer- 
tificates of deposit and gold and silver certifi- 
cates. Of the cash in the Treasury $156,369,- 
534.53 is available for any extraordinary ex- 
penses. In addition to the above there are 
outstanding $64,623,512 in bonds issued to the 
Pacific Railroad Companies knovm as the cur- 
rency 6's. •*'• 

The total indebtedness of th« District of 
Columbia on the 1st inst. amounted to$21.- 
892,850. The amount of funded debt retired 
since July 1, 1876, $338,900 ; reduction in an- 
nual interest charge since July 1, 1878, 
$55,792. 

The Auditor of Minnesota began on the 
3d inst. to p y the new State Railroad bonds 
authorized by the adjustment act of last No- 
vember, to the holders of the old bonds, the 
interest on which has defaulted since 1860. 
The State has sold $800,000 of trust securities 
for cash and has reinvested the funds in new 
bonds. This permits the payment of a consid- 
erable number of old bonds, in cash. All frac- 
tional parts of $1,000 will be paid in cash and 
a percentage of all, besides about $30,000 of 
claims against the old railroad companies. The 
new bonds issued bear 4^ per cent, and r3n 
thirty years, being redeemable after ten years 
at the pleasure of the State. • :<j • 

The closing quotations on Thursday were ; 
American District Telegraph, 34@36; Adams 
Express, 146@150; American Express, 92@93 ; 
Chicago, Burlington and Quincy, 133^@134 ; 
Canada Southern, 51|@52; Chicago and North- 
western, 124|@124|; do. pref., 137^@139; Chi- 
cago and Alton, 128i@129; Central of New Jer- 
sey, 90@90J ; Central Pacific, 91J@92J ; Chi- 
cago, Milwaukee and St. Paul, 106J@106J ; do, 
pref,, 120@121 ; Cleveland, Columbus, Cincin- 
nati and Indianapolis, 78^@79; Columbus, Chi- 
cago and Indiana Central, 20J@20|; Delaware 
and Hudson Canal, 106J@106|; Delaware, Lack- 
awanna and Western, 123J@123| ; Hannibal 
and St. Joseph, 95@95J ; do. pref., 108@109 ; 
Illinois Central, 128J@129J ; Lake Erie and 
Western, 32J@,34J ; Lake Shore and Michigan 
Southern, 110f<^110J ; Metropolitan Elevated, 
85J@87 ; Manhattan Elevated, 50J@51 ; Mich- 
igan Central, 84^@84| ; New York Elevated. 
105 J@ 106; New York, Lake Erie and Western,-": 



--.* 



...^ 



8 



AMERICAN RAILROAD JOURNAL. 



39J@39} ; do. pref., — @— ; New York Cen- 
tral and Hudson River, 129i@129J ; Northern 
Pacific, 35|@36; Ohio and Mississippi, 35 J@ 
@35| ; Panama, — @— ; Pacific Mail, 40@ 
40 J ; Texas and Pacific, 45J@45J; Union Pacific, 
115|@115| ; United States Express, 76@77 ; 
Western Union Telegraph. 771@78 ; Wabash, 
St. Louis and Pacific, 34|@,35i ; do. pref., 66| 
@67; Wells-Fargo Express, 126@130. 

The following quotations of sales of Railway 
and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 
New York. — American Dock and Imp., 5s, 
100; Boston and New York Air Line pref., 62; 
Cedar Falls and Minnesota, 19 ; Chic^o, St. 
Louis and New Orleans, 80 ; Chesapeake and 
Ohio 1st pref., 34^ ; do. .2d pref., 24 ; do. cur. 
int., 52 ; do. 1st, Series B, SOf ; Chicago, St. 
1 Paul, Minneapolis and Omaha, 35 J ; do. pref., 
98^; do. consol., 98 1, Central Iowa, 37^ ; Cleve- 
land, Columbus, Cincinnati and Indiana con- 
sol., 122 J ; Chicago, Milwaukee and St. Paul 
Ist, La C. and Dav. div., 94 J ; do. S. M. div. 
1st, 103| ; Columbus, Chicago andlndiana Cen- 
tral 1st Trust Co. certif. ass. sup., 118J; do. 
Income, 74 J ; Denver and Rio Grande, 67 ; 
do. 1st, 113; do. 1st consol., 102^; Denver, South 
Park and Pacific 1st, 101 J ; East Tennessee, 
Virginia and Georgia, 13 J ; do. pref., 24; do. 
inc., 54f ; Green Bay, Winona and St. Peter, 
llf ; Gulf, Colorado and Santa Fe 1st, 106 J ; 
Indianapolis, Decatur and Springfield 2d in- 
come, 70 ; Indiana, Bloomington and Western, 
45 J ; International and Gt. Northern 1st, 107 ; 
Lehigh and Wilkesbarre consol. ass., 107 J ; 
Kansas Pacific 1st consol., 102}; Lake Erie and 
Western, 34 ; Louisville, New Albany and Chi- 
cago, 74; do. 1st, 101 ; Louisville and Nashville 
geni mort. 6s, 100^ ; Manhattan Beach, 2b\ ; 
Marietta and Cincinnati 1st pref., 15 ; do. 2d 
pref., 9; Mobile and Ohio, 35 ; do. 1st deben., 
95; do. 1st, 110; Missouri, Kansas and Texas, 
36J ; do. gen'l mort. 6s, 88; do. consol. 7s, 106; 
do. 2d, 71^; Missouri Pacific, 100; do. 1st con- 
sol.; 103^; Memphis and Charleston, 71 ; Mil- 
waukee, Lake Shore and Western, 46; Michigan 
Central 5s, 97 J ; do. 8s, 103^; Nashville, Chat- 
tanooga and St. Louis, 85 New York, Ontario 
and Western, 27; Northern Pacific 1st, 99|; New 
' Orleans Pacific 1st, 91^ ; Ohio Central, 23 J ; 
do. 1st, 97 ; Ohio Southern, 21J; do. inc., 42|; 
do. 1st, 96J ; Oregon Railway and Nav., 131; 
Peoria, Decatur and Evansville, 36 ; Richmond 
\and Allegany, 39J ; do. 1st, 101; Richmond and 
CiOanville, 180 ; do. 1st, 102 ; Rome, Watertown 
and Ogdensburg, 20 ; do. 1st consol., 90} ; St. 
Paul and Sioux City 1st, 109; St. Paul Minnea- 
polis and Manitoba, 111; do. 1st, 109; St. Louis 
and Iron Mountain 1st pref. inc., 96; do. 5s, 85; 
Southern Pacific of California 1st, 103| ; Tole- 
: do Delphos and Burlington, 16|; Texas and Pa- 
cific, 47 J ; do. inc. L. G., 72 ; do. Rio Grande 
div. 1st, 88} ; Wabash, St. Louis and Pacific 6s, 
, 89; Alabama, Class A, 81 ; Arkansas 7s, L. R. i 
Ft. S., 30 ; Louisiana 7s, consol. 68 ; Missouri 
6s, 1888, 111 J ; South Carolina 6s, non-fund., 
llf; Tennessee 68, old, 74J;do. new, 74|; Amer- 
^ ioan District Telegraph, 35 ; Sutro Tunnel, |; 
.;■ Colorado Coal and Iron, 42 J ; do. 6s, 89 ; New 
/ Central Coal, 19 J; Excelsior, \; Little Pittsburg, 
: IJ ; Robinson, 2 J ; Standard, 17|. 

P^iZcufe/pAia.— Catawissa new pref., 52 ; Cen- 



tral Transportation, 37}; Huntingdon and Broad 
Top 1st, 119 ; do. consol. 58, 89 ; Philadelphia, 
Wilmington and Baltimore. 62} ; do. 4s, 94 ; 
Philadelphia and Reading R. R. scrip, 80; Steu- 
benville and Indiana 6s, J. & J., 106}: St. Paul 
and Duluth pref., 71; Texas and Pacific consol. 
mort. 6s, 100; do. Ist mort., 106 ; West Jersey 
and Atlantic 6s, 112. The latest quotations are: 
City 6s, 118@121; do. free of tax, 126@129; do. 
4s, new, 102@109; Pennsylvania State 6s, 3d se- 
ries, 100@101;do. 5s, new loan, 110@115;do.48, 
new, 107@111; Philadelphia and Reading R. 
R., 32|@32| ; do. consol. mort. 7s, reg., 124 J 
@125} ; do. mort. 6s, 116@— ; do. gen'l mort. 
6s, coupon, 98J@98i ; do. 7s, 1893, 118@125 ; 
do. new, conv., 73@77 ; United New Jersey R. 
R. and Canal, 184|@185J ; Buffalo, Pittsburg 
and Western, 20@20} ; Pittsburg, Titusville 
and Buffalo 7s, 102|@102| ; Camden and Am- 
boy mort. 63, 1889, 113^@114} ; Pennsylvania 
R. R., 60}@60|; do. general mort. coupon, — 
@— ; do. reg., 123@— ; do. consol. mort. 6s, 
reg;., 119@124; Little Schuylkill R. R. 56f@ 
57} ; Morris Canal, 65@.75 ; do. pref., 165@ 
169} ; Schuylkill Navigation, 6@7 ; do. pref., 
13@13} ; do. 6s, 1882, 88^@89}; do. 1872, 107 
@108; Elmira and Williamsport pref., 58@60; 
do. 6s, 110@— ; do. 5s, 95@ - ; Lehigh Coal 
and Navigation, 43@43} ; do. 6s, 1884, 105^@ 
107 ; do. R. R. loan, 116@118 ; ilo. Gold 
Lo.m, 111|@111| ; do. consol. 7s, 114}(^117} ; 
Northern Pacific, 35^@35| ; do. pref., 73}@ 
73|; North Pennsylvania, 59^@60 ; do. 6s, 107} 
@108},; do. 78, 123^@— ; do. General mort. 
78, reg., 119@124 ; Philadelphia and Erie, — 
@— ; do. 7s, 117@120 ; do. 5s, 105@106 ; 
Minehill, 60@60i; Catawissa, 14@16; do. pref., 
53^@53};do. new pref., 513@52};do. 7s, 1900, 
120@— ; Lehigh Valley 61|@— ; do. 6s, cou- 
pon, 120|@121} ; do. reg., 121^@122} ; do. 2d 
mort. 78, 133@ — ; do. consol. mort. 117^@ 
117| ; Fifth and Sixth streets f horse), 149@ 
150; Second and Third, 114|railH|; Thirteenth 
and Fifteenth, 75@,80; Spruce and Pine, 47f@ 
48}; Green and Coates, 90@100; Chestnut and 
Walnut, 94@95 ; Germantown, — @70; Union, 
110@125 ; Lombard and South, — @— ; West 
Philadelphia, 108@110; People's 15@15}; Con- 
tinental, 100^105. 

^crffimore.— Baltimore City 6s, 1884 104 ; do. 
6s, 1890, 114 ; do. 5s, 1916, 121 ; Consolida- 
tion Coal, 39 ; Columbia and Greenville 1st, 
103; Canton 6s, gold, 107}; George's Creek Coal, 
100 ; Maryland Defense 6s, 103 ; Norfolk and 
Western pref., 57; Richmond and Danville, 163; 
do. gen'l mort. 6s, 1915, gold, 104} ; Virginia 
Midland, 70 ; do. 1st pref., 101 ; do. 
2d mort., 110 ; do. 5th mort., 98J; Vir- 
ginia Black scrip, 17; Virginia Peelers, 39 ; do. 
Peeler coupons, 27} ; Wilmington, Columbia 
and Augusta, 110. The latest quotations are : 
Atlanta and Charlotte 1st. 108|@111 ; Balti- 
more and Oliio, 195@210 ; do. 6s, 1885, 105^ 
@ 107; Baltimore City 6s, 1890, 114@114|; do. 
5s, 1894, — @116};do. 5s, 1900, 118@— ; do. 
5s, 1916, 121@121};do. 4s, 1920, -@112; Can- 
ton Co. 6s, gold, 107|@107} ; Columbia and 
Greenville 1st, — @104; Marietta and Cincin- 
nati 2d, 105@105} ; do. 3d, 58J@58} ; North- 
ern Central, — @50J ; do. 6s, 1900, gold, 113 
@114;do. 6s, 1904, gold, lll@-;do. 5s, 1926, 
97@97}; Ohio and Mississippi, Springfield div. 



1st, —@119| ; Richmond and Danville, 180@ X 
— ; Richmond and Allegany, 38@41 ; Virginia 
Midland 5th mort., 97}@99; Virginia consols., 
69^@69|; do. consol. coupons, 72}@73; do. ■ 
10-40S, 40@41. 

Boston. — Atlantic and Pacific 68, 96 ; do. 68, 
Income, 33 ; Atchison, Topeka and Santa Fe ■ 
5s, 93 ; Boston Water Power, 6}; Chicago and : 
West Michigan 5s, 79 Connotton Valley 7s, 85; 
Chicago, Burlington and Quincy 4s, Denver • 
ext., 87} ; do. 4s, old, 88f ; D«»roit, Lansing and 
Northern pref., 116; Flint and Pere Marquette, . 
22; do. pref., 92} ; Kansas City, St. Joseph and • 
Council Bluffs 78, 116.}; Kansas City, Lawrence 
and Southern 5s, 104 ; Kansas City, Fort Scott 
and Gulf 7s, 107}; Little Rock and Fort Smith, 
61}; do. 7s, 112}; Mexican Central 7s, 87 ; Mar- 
quette, Houghton and Ontonagon, 60}; do. 68, . 
102 ; Maine Central, 40 ; New York and New 
England 6s, 107; Northern Pacific 6s, 99}; New : 
Mexico and Southern Pacific 7s, 115} ; Rut- 
land pref., 26} : do. 6s, 101; Summit Branch, 
12}; Sonora 1st, 89 ; Toledo, Delphos and Bur- 
lington, 8} ; Wisconsin Central, 20} ; Allouez ' 
Mining Co., 3} ; Atlantic. 17}; Blue Hill, f; ; 
Catalpa, ^; Central, 31; Copper Falls, 4} ; Frank- 
lin, 14}; Huron, 3}; Harshaw, 4}; Osceola, 31 J; . 
Pewabic, 16}; Phoenix, 3; Silver Islet, 21;Starl. 

^ 

Hannibal and St. Joseph Railroad. 



Refekring to the alleged statement of the 

Governor of Missouri, that if the Hannibal and 

St. Joseph Railroad Company fails to pay the 

January interest on the State Aid bonds of that 

State he will advertise the road for sale, John 

R. Duff, Vice President of the company, says ; 

" The Hannibal and St. Joseph Railroad 
Company is under no obligations to pay the in- 
terest referred to. The bonds are the bonds of 
the State of Missouri, and not of the railroad 
company. They amount id $3,000,000 and no 
more. On the 20th of June, 1881, the railroad 
company paid $3,090,000 to Phil E. Chappell, 
the Treasurer of the State, and took a specific 
receipt from the Treasurer. The $3,090,000 
paid was the full amount of the principal and ac- 
crued interest of the bonds. The State of Mis- 
souri still has this money. The State paid the 
July interest on these bonds through the Bank 
of Commerce, its regular fiscal agency in New 
York. It is an absurd proposition that, after 
paying our debt in full, principal and interest, 
we should continue to pay interest. The Han- 
nibal and St. Joseph Railroad Company is the 
only railroad company receiving aid from the 
State of Missouri which has never defaulted 
upon the interest. Over $23,000,000 of bonds 
were issued by the State for her railroads. This 
particular $3,000,000 of bonds is the only issue 
upon which the State has never lost a dollar." 



••■,•...; 



Growth of Colorado. j, : 

The growth of the State of Colorado during 
the past year is unprecedented in its history. 
In Denver alone more than $4,000,000 wer6 ex- 
pended in the construction of new buildings, 
and the total assessed valuation of the city is 
$25,650,000, an increase in the past year of $9,- 
460,000. The Auditor's records show the as- 
sessed valuation ot the entire State to be $96,- 
059,000, an increase of $23,000,000 over that of 
1880. The lowest figures on the bullion output 
of the State for the past year place it at $20,- 
200,000. Of this, Lake County is credited with 
$11,500,000. The total indebtedness of the 
State is $330,000. It is safe to say that there 



i^i^ 



. - P ■fv'T-:^j^^'^--_ I ^-T.iT! Tpw;- 



-f:. 



AMERICAN RAILROAD JOURNAL. 



will not be over $100,000 of outstanding war- 
rants a year hence, as the receipts from the 
counties will amount to $300,000 at least during 
the next nine months. More than $9,000,000 
has been spent in the State on railway con- 
struction during the past year. Denver and 
New Orleans expect to have connection by the 
Texas Bailroads with New Orleans by next 
Christmas ; the Chicago, Burlington and Quincy 
Railroad company will Vave its line completed 
to Denver, and the Rio Grande Railway has 
laid a third rail to Pueblo. The Atchison, To- 
peka and Santa Fe Railroad will run trains 

through to Denver. 

^ 

Railroad Iiease and Traffic Contract. 



The Louisville and Nashville Railroad Com- 
pany has leased to the Chesapeake and Ohio 
and Southwestern Railroad Company the 46 
miles of its railroad known as the Cecilian 
Branch, running from Louisville south to Ce- 
cilian Junction, where it connects with the 
Paducah and Elizabethtown Division of the 
Chesapeake and Ohio and Southwestern Com- 
pany, completing the latter's line between 
Memphis and Louisville. The Chesapeake and 
Ohio and Southwestern Railroad Company and 
the Louisville and Nashville Railroad Company 
have also entered into a traffic agreement for 
the use by the former of the latter's railroad 
between Lexington and Louisville, thus put- 
ting at rest all questions about building a sec- 
ond line of road between those two points. By 
this arrangement the Chesapeake and Ohio and 
Southwestern Railroad practically have a con- 
tinuous line of railroad from Newport News to 
Memphis, and the Louisville and Nashville 
Railroad, by accommodating the Chesapeake 
and Ohio and Southwestern Railroad and en- 
abling it to perfect its through line, is benefited 
by securing the large volume of business which 
the Chesapeake and Ohio and Southwestern 
Railroad will send over the Lexington Road to 
Louisville, and benefits also by the rental de- 
rived from the leased property, which the Lou- 
isville and Nashville Company has never made 
use of. ■.:■;...;-■.■..- x;:' ■.••"; ■ :'-:i ■-.■-■'■■-' 



^^ 



The Pacific Railway Snow Sheds. 



/. These wonderful wooden tunnels cover forty 
miles of the Central Pacific railroad. They 
were first suggested by its practical vice presi- 
dent, Charles Crocker, but his companions 
hesitated through fear of their impracticability 
and expense. They are of two kinds, one with 
very steep roofs and the other with flat roofs. 
Thoy cost per mUe from $8,000 to $12,000, and 
in some places, where heavy masonry was need- 
ed, the cost reached $30,000 a mile. They are 
fiirmly constructed to support the great weight 
of snow and . resist the rush of avalanches. 
Fire precautions are very thorough. Corru- 
gated plates of iron separate the buildings into 
sections, and in the great ten mile shed there 
are automatic electric fire alarms. At the sum- 
mit is an engine and tank always ready to flood 
the ignited spot in an instant. These sheds 
shut in the view of the great Sierras, but with- 
out "them travel would be impossible. Some- 
timeb five feet of snow falls upon them in a 
day and often thirty feet lie on the grourd at 
one time, and in many places snowaccumiilates 



to the depth of fifty feet above these great 
wooden arches.-;^-.' '. r*:' ;'v ' ' ,. .; 



Statement of the Public Debt of the 
United States, January 1, 1882. 



' ; .; DEBT BEARING INTEEEST. 

, - '.'■:•■ Amount 

Outstanding. 
6 per cent loan, 1861-'81, 

continued at 3 >i per ct. $101,827,200 00 $1,781,974 29 
6 per cent loan 1863-'81 

continued at Z}i per ct 47,855,700 00 
5 per cent funded loan of 

1881 401,503,900 00 

41^ per cent funded loan 

of 1891 250,000,000 00 

4 t>er cent funded loan of 

1907 738.772,550 00 

4 per cent refunding cer- 
tificates 575,250 00 

3 per cent navy pension 

fund 14,000.000 00 



Accrued 
Interest. 



837.473 82 

2.342,106 08 

937,500 00 

7,8^7.725 50 

5.752 50 

10.000 00 



85 74 
22 00 

213 06 

2.945 00 

600 66 

370,700 00 8,439 32 

58.650 00 170 95 

77,050 00 18,897 52 

490,350 00 110,3«6 10 

411,300 00 15.815 21 

1.103,850 00 204.455 36 

315.750 00 24,203 90 



142.000 00 
3.558.750 00 
134.500 00 



fi.660 00 

90.739 38 

6,373 50 



Aggregate of debt bear- 
ing interest $1,554,534^600 00 $13,502,532 19 

Interest due and unpaid 1,331,845 66 

DEBT ON WHICH INTEREST HAS CEASED SINCE MATDBITT. 

Amount Interest due 
Outstanding, k unpaid. 

4 to 6 per cent, old debt, 1837. $57,665 00 $64,174 81 
6 per cent. Mexican indem- 
nity stock, 1846 1,104 91 

6 per cent, bonds, 1847 1,250 00 

6 per cent, bounty land'scrip, 
1847 3.275 00 

5 per cent. Texas indemnity 
bonds, 1850... 20,000 00 

5 per cent, bonds, of 1858 8.000 00 

5 per cent, bonds, of 1860 10,000 00 

6 per cent. 5-20 bonds, 1862, 
called 

6 per cent. .5-20 bonds, June, 

1864, called 

6 per cent. 5-20 bonds, 1865, 

called 

5 per cent. 10-40 bonds, 1864, 
called 

6 per cent. Consol. bonds, 

1865, called '., 

6 per cent. Consol. bonds, 

1867, caUed... 

per cent. Consol. bonds, 

1868, called 

6 per cent, loan, Feb. 8, 1861, 

matured Dec. 31, 1880 

per cent, funded loan 1881. 

called 

Oregon War Debt, March 2, 

1881. matured July 1. 1881. 
6 per cent loan of July 17 and 

Aug. 5. 1861. matured June 

30.1881 1,107,400 00 44,068 50 

6 per cent loan of July 17 and > • 

Aug. 5, 1861. matured Dec. ' . 

24, 1881, called 

6 per cent, loan of March 3, 

1863,matured June 30. 1881. 
1-10 to 6 per cent. Treasury 

notes, prior to 1846 

1-10 to 6 per cent. Treasury 

notes, 1846 

6 per ct. Treasury notes. 1847 . 

3 to 6 per cent. Treasury 
notes. 1857 

6perct. Treasury notes. 1861. 

7 3-10 per cent. 3 years' Treas- 
ury notes. 1861 

5 per cent. 1 year notes,1863. . 

5 per cent. 2 year notes, 1863. 

6 per ct. compound interest 
notes, 1863-64 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1864-65 

6 per cent, certificates of in- 
debtedness, 1862-63 

4 to 6 per cent, temporary 
loan. 1864 

3 per cent, certificates, called. 

Aggregated of debt on which . 
Interest has ceased since 
maturity $11,528,265 26 $714,985 31 

DEBT BEARING NO INTEREST. 

Demand notes, 1861-62 $59,920 00 

Legal tender notes, 1862-03. ... 346,681.016 00 

Certificates of Deposit 9,590,000 00 

Coin certificates, 1863 5.188,120 00 

SUver certificates, 1878 08,675,230 00 

Unclaimed interest .; , ■ 7,256 51 

Fractional currency, 1862, ' -"'. 

1863 and 1864 $15,451,860 92 i 

Less amount es- ... ,:* -• : ; 

timated as lost I; ■. ' - ■ '. ' V . 

or destroyed, .'/■;-.■'.-' ^\-' 

act of June, ' ; V ■ '"- 

21.1879 8,375,934 00 



2.763,300 05 


46.636 40 


326,350 00 


10.023 00 


82,525 35 


2.668 06 


6,000 00 
950 00 


206 00 
57 00 


1,700 00 
3,000 00 


99 00 
364 60 


16.300 00 
43,225 00 
35,200 00 


1.104 43 
2,173 35 
1.779 80 


225,260 00 


45.968 07 


140,900 60 


4.763 87 


4,000 00 


253 48 


2,960 00 
5,000 00 


244 19 
, 394 31 



BECAPITULATION. 



Debt bearing interest in 
coin, viz : 

Bonds at 6 per cent., con- 
tinued at 3U per cent. 

Bonds at 5 per cent, con- 
tinued at 3 >^ per cent . 

Bonds at 43>s per cent 

Bonds at 4 per cent 

Refunding certificates... 

Navy pension fund, 3 p.c 



Amount 
Outstanding. 



$149,682,900 00 

401,.W3.900 00 

250,000,000 00 

738,772.550 00 

675,260 00 

14,000,000 00 



Int«re«t. 



$1,554,534,600 00 $14,814,377 8f 
Debt on which interest has 
ceased since maturity . 11,528,265 26 714,986 31 



Debt bearing no int., viz: 
Old demand and legal- 
tender notes $346,740,936 00 

Certificates of deposit 9,590,000 00 

Coin & silver certificates. 73,863,350 00 

Fractional currency 7,076.926 92 



Unclaimed interest. 



$437,270,212 92 



7,266 61 



' . • $2,003,333,078 18 $15,636,619 6T 
Total debt, principal and interest to date, 
including interest due and unpaid. . .$2,018,869,697 35 

AMOUNT IN TREASURY. 

Interest due and unpaid $1,311,845 66 

Debt on which interest has ceased 11,528,266 16 

Interest thereon 714,986 31 

Gold and silver certificates 73,863,'350 00 

U. S. notes held for redemption of cer- 
tificates of deposit 9,.'590,000 90 

Cash balance available January 1, 1882. 156,369.534 53 



$253,377,980 76 
Debt, lessam't in Treas'y Jan. 1, 1882. ..$1,765,491,717 09 
Debt, less am't in Treasury Dec. 1, 1881 . . 1,778,286,340 65 



Decrease of debt^uring the month $12 793,623 66 

Decrease of debt since June 30, 1881 $75,107,094 89 

BONDS ISSUED TO THE PACIFIC RAILROAD COMPANIES, IH- 



TEREST PAYABLE IN LAWFUL MONEY. 



Central Pacific bonds, 
Kansas Pacific bonds. 
Union Pacific bonds. 
Cent. Branch Union 

bonds, 1862-64 

West'n Pacific Bonds, 
Sioux City & Pacific 

1862-G4 



Amount 
Outstanding. 
1862-64$25.«85,12D 00 
1862-64 6,303,000 00 
1862-64 27,236.512 00 
Pacific 

1,600,000 00 

1,970,560 00 



1862.64 
bonds. 



Accrued 

Interest 

not paid. 

$776,553 60 

189,090 00 

817,096 36 

48,000 00 
59,116 80 



1,628,320 00 48.849 60 



Totals $64,623,512 00 $1,938,706 34 » 

Interest paid by thfe United States, $51,467,272 02; in- 
terest repaid by transportation of mails, *c., $14,707,- 
886 34; interest repaid by cash payments : 6 per .cent, 
net earnings, $6.55,198 87; balance of interest paid by 
United States, $36,104,186 81. 

The foregoing is a correct statement of the public 
debt, as appears from the books and Treasurer's returns 
in the Department at the close of business, December 

31, 1881. CHARLEb J. FOLOER. 

Secretary of the Treasury. 



Mek with few faults are the least anxious to 
discover those of others. 

Death and the sun have this in common'— 
few can gaze at them steadily. 

Talent is an eyesore to tyranny. In weak- 
ness, tyranny fears it as a power; in power, it 
hates it as a liberty* - , ; 



THE LAKE SHORE AND MICHIGAN SOUTH 
ERN RAILWAY COMPANY, 

Treasurer's Office, Grand Central Depot, 
New York, December 23d, 1681. 

The Board of Directors of this companv hav*i thia 
day declared a QUARTERLY DIVIDEND of TWO 
per cent u^nm its capital stock, payable on WEDNES- 
DAY, the first dity of Februttry next at this office. 

The transfer booki? will be closed at 3 o'clock P. - 
M. on Saturday, the 3!st in.*tant, and will be re- 
opened 00 the morning of Saturday, the fourth day of 
February next. 

E. D. WORCESTER, Treasurer. 



^ . : ,^._, ; ,^ . ''075,926 92 * 

Aggregate of debt bearing no 
Interest $437,270,212 92 $7,266 51 i 



COTT#\-St:ED HULLS 

For Packing Journal Boxes of Cars. 

' ^^ - IUtioial Railway Patcit Wash Ca 

240 Broadway, - New York. 



r 

iri 



-1. 



I 



/ 






lO 



AMERICAN RAILROAD JOURNAL. 



•. ?>' ■: 



'¥■■■ 



m 



Ten new Locomotives, Standard Gauge, June 
and July delivery. 

New 3ft. Gauge Locomotives, summer delivers-. 

One Second-hand Tank Locomotive 3ft. Gauge, 
rebuilt good as new, January delivery. . 

Second-hand Standard Gauge Locomotive arid 
P&ssenger Cars. 

Thirty new Box Cars Standard Gauge, immedi- 
ate delivery. 

New Flat and Coal Cars, January delivery. 

New Passenger and Combination Coaches 3ft. 
Grange, early delivery. 

New Car Wheels and-Castings. 

Iron and Steel Rails. 

Narrow-Gauge Rolling stock a specialty. 

BARROWS & CO.. 

NEW YORK. 

(oLLij^s.jj^iiDEN 0Epn^, 

25 fme §T. - l^ew Yoi^^ 

Interest allowed on Deposits subject 
to Draft. Securities, &c., bought and 
sold on Commission. | 

investmenrSecurities always on hand. 

Brown, Brothers & Co., 



No. b9 Wall Stieet, New Yoii, 



— BUT AND 8ELI 



-^^-iTO-E] 



T^TT iT iff or 

— ON — 

GREAT BRITAIN, IRELAND, FRANCE, GERMANY. 
BELGIUM, AND HOLLAND. 



issue Commercial and Travelers' Credits in Sterling, 

AVAILABLE IN ANY PART OF THE WORLD. AND IN 
FRANCS IN MARTINIQUE AND GUADALOUPE. 

Xake Teleobaphic Transfees of Money between this 
»nd other countries, through London and Paris. 

Make Collections of Drafts drawn abroad on all points 
in the United States and Canada, and of drafts drawn in 
the United Stotes on Foreign Countries. 



Scioto R. R. 1st 7*8, 1905. 
Scioto R. R. 2nd 7's, 1879. 
Scioto R. R. Con. 7's, 1910. 
Scioto R. R. Stock. 
Columbus & Toledo 1st 7's, 1910. 
ToL, Cian. & St. L. Stock and Bonds. 

' D. A. EASTOW, . i .i 

iVo. ft§ Broadway. IV. ¥. 



Ik, Whitxey & Sows, 

CAB WHEEL WORKS," 

<:all(>whiil and 16th Streets, 

PHIIiADEIiPHIA, PA. 

We famish CHILLED WHEELS foi* Cars, Trucks, and 
Tenders. CHILLED DRIVING-WHEELS and TIRES for 
Locomotives. ROLLED and HAMMERED AXLES. 
WHEELS AND AXLES FITTED COMPLETE. 



^^GIlNEElvo.a'j.ecijaiiivo.A**!** ^-rT***^*".*-.***.^.^*",— *— "— 
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Universal A ssistant and Complete Mkchanic, a work 
containinK 1016paKes,500 Enpravings, 461 Tables, andover 
1.000,00) Indu8triarFact8,Calculation8. Processes, Secrets, 
Rules, Ac. of rare utilityin 2 Trades A fSbookfreeby 
mail for*2.50, worth its weight in g )ld to any Mechanic, 
Farmer or Busines8Man._.43ento Y'^')^k Sure sale every- 
where for all time. For III.. Contents Pf niphlet. teras, 
aad Catalogue of 500 Practical Books, address National 
^OOK Oo.. n BmIumb St.. N«v Ywk. 




Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and ai reasonable 

Prices by the 

! : HARLAN & ROLLINGS HOBTH CO., Wilmington, Del. 



Sandusky Rail lUill Co. 
Wew Albany Rail Mil! €o. 

STEEL RAILS, 

IRON RAILS, 

BLOOMS. 



C. H. ODELL, AGT. 

104: Joliii St., N. Y. ' !;; 



FOB SALt. IN I OTS TO J»UIT. 

Prompt Delivery. 1 

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS, 
AND FOR RE-ROLLING OLD HAMJtx ^ 

OLD RAILS AND SCRAP AND CAR WHEELS BOUGHT AND SOLD. 



SWIFT'S IRON AND STEEL WORKS, 



26 W. THIRD ST., CINCINNATI, OHIO. 



• i 



Manufacturers of ail Weights of Standard and Narrow Gauge Rails by the most approved process. Also Ra9 Fasteninjs 

Sted and Bloom Boiler Plate, and Tank, Sheet, and Bar Iron. ' 



BETHLEHEM IRON CO., 
IRON AiyP 8TEEL R AILS 

I GEO. A. EVANS. 

j No. 74 Wall Street, - - - New York. 



Railroad 




Track Scales. 



:a; 



:■'! .' 




AND 

TESTING 

MACHINES 



PHILADBI.PIIIA, 
50 Soallt 4th St. 

NEW YORK, 
115 Liberty Street. . 

PITTSBURGH, 
Liberty St. cnr. 7th Av. 

ST. LOUIS , 
609 North 3d Street ■' 

NKW^ OHLKANS, : J 
. 144 Orn^ler Streei^ 



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'• -f -'.•>. .7- A 



H 



.." \<. •■- 'K: 



AMERICAN RAILROAD JOURNAI.. 



11 




•.; '''• 



VAIm en tin E' S 1| AfL N I S H E S 

ARE ON SALE IN THE fOIiOWINfi CroHTRIES; 



ENGLAND. 

FRANCE. 



1 SWITZERLAND, 
■'■■-■-/-■ITALY. ■> - 



GERMANY. 



AUSTRIA. 



SPAIN, 



INDIA. 



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SCOTLAI^D. 

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t^ CJSTRALIA. 



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CUBA. 



VALENTINE & COMP ANT, 

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a:.. «: RAILWAY vTRAI]^ BRAKES, v-S^^^^-;^ 

rP. O. Box 2,S7§. »«ALES OFFICE 15 GOLD JiT , N. V ReprfsenUd by THOS. PROISKER A SOW. 

The EAM^S VACTJITM BRAKE ig confidently offered as the most efficient, simply durable and cheapoit Power Brake in th« 
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FAIRBANKS' ??*""^"s?ales. 

ADAPTED TO ALL CLASSES 
OP BUSINESS. 




Railroad and Warehouse Trncks, 

AN COPYING- PRESSES. 

Oldest and Largest 
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PATENTS 

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Canada, Cuba, England, France, Germany, etc We 
have bad thirty-live years' experience. 

Patents obtained through us are noticed In the scr- 
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itewYorJc. Hand boolc about Patents free. * 



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, r PUBLISHED WEEKLY BY THE 

American Railroad Jonmal Company, 

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The AMERICAN RAILROAD JOURNAL, the 
oldest railroad paper in the world, was established 
during the construction of the first 100 miles of rail- 
road in this country. Its files of the past fifty years 
furnish a complete record of the development of 
American railroads and faithful chronicles of the 
kiodred financial interests. It contains features of 
special value to investors and others desirous of being 
readily acquainted with values nnd transactions con- 
nected with the development and working of our 
railroad systems, and much of interest to the general 
reader. It is tal<en by leading railroad men, inves- 
tors and hanking houses in this country and Europe, 
where it has long been a recognized authority in its 
special field, being recommended as such by "Cham- 
bers' £ncyclop8Bdia" and other stnndard foreign and 
doiiiesuc publications. We give below a few extracts 
.rom opinions of the press : 

From " Herapath's Railway Journal," London. 

The AifERicAN Railroad Journal, one of the 
most honest and outspoken of American papers. 

From the " Journal of Commerce," New York. 
The American Railroad Journal, a most valu- 
able weekly newspaper. Is now half a century old. 



From th« " Cincinnati Price Current." < 

The American Railroad Journal's list of pat- 
rons ii composed largely of the oldest and heaviest 
financial bouses in the United States, Great Britain 
anl the Continent, and of railway companies, manu- 
facturing establishments and banking and commer- 
cial houses in this country. 



" From the •' Pittsburg (Pa.) Chronicle " 

The American Railroad Journal is authority 
I 00 railroad news. 



-1 



From the " Washington (D. 0.) Law Reporter." 
The Ambrican Railroad Journal is a most val- 
uable publication, and to all persons interested in 
American railroads, earnings, dividends, etc., etc., it 
is almost inraloable. vr , ■ • 

■]-■"■'■: h- ^:-' ''■'■■' -' '••.■'■! ■■■'.::■:■■■.:'■' :Vv.\. -■.;••■■' 



o : i-' .b ' io :Hi OT^ -.li, ■...,.:.■■ 

AMERICAN 

REFRIGERATOR i 

- New York, Oct., 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 
sential Oils, Mineral Waters, 
Lager Beer, Ales and Porters, 
Oysters, or, in fact, any class of 
goods that needs protectioii 
from heat or cold while in tran- 
sit to the West and Southwest, 
either in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 



BEPBIBERATOR TBMSIT COM! 



Guaranteed Rills of Lading: 

Time as qnick and rates hs 
low as by any first class fast 
freight line. ^ \:-:y- i ^ 

JE^Ship from New York via 
N. Y. C. and H. H. .K B., St. 
John^s Park ; from Boston t|ia 
Boston and Albany K* R* v 



4.:v 



For rates and information apply to 

FAED'K I. EVANS, 

Beneral Eastern Agent 



92 Wall Street, - New York. 

271 Broadway, New York, 

282 Washington Street, Boston. 



AMB!RIdAN RAttROAD JOURI^aL. 



13 



THE CALIGRAPH. 



■■'■I-' 

■ ■■•*•- 

■ :>**-^ 

m 







Weight aOLbir 



THE CALIG1APH is a machine invented to take the place ol the pen. It is operated by touching 
keys as in playing the pianu. The writing, which is always neat and legible, and can be copied in a letter- 
press like ordinary pen writing, is done with wonderful ease and about three times faster than with the 
pjD. Its use is learned in from two weeks to two months' time. It manifolds, giving from three to twenty 
copies at one impression. It aids composition, does away with bad penmanship, and saves time, labor and 
money. It i) the best-known means of teaching spelling ami punctuation. These qualities) render it indis- 
pensible to business men, or all who have writing to do or children to educate. ;.::,",:-...:.:.; • ■: - = 

THE CALIQRAPH is the invention of Mr. G. W. N. Yost, who was mainly instrumental in placing 
the Typ£-Writer before the public, and who for the past seven years has given his entire att:;ntion to 
to writing machines. His long experience and thorough knowledge of the defects of the old style of Writ- 
ing Machines, have enabled him to combine iu the CALIORAPH all the good^and to leave out all the bad 
elements of Writing Machines, as heretofore made. " ■'■7- / '• ':■.:. - .' " ^^ 

The No. 1 machine is furnished with capital letteis, figures, and punctuation marks only. Its ke^ board 
contains forty-eight characters, which are arranged in six rows of eight each. 

No. 1 Caligraphs are made with four different styles of type, as fullows : Large and small Gothic, and 
large and small Roman. 

Tbe No. 2, or upper and lower case Caligraph, is like the No. 1 in all respects, 
except that it is furniahed with both capital and small letters, and is made larger to 
admit of the use of extra keys, type-bars, etc., for the additional char : « u u loth 
machines are operated in the same manner, and are about equal in speed. 

The key-board of the No. 2 machine is arranged as follows : It contains, in all, 
keys for seventy-two characters. Forty-eight of these, occupying the centre of the 
board, are lower-case letters, figures, and punctuation marks, and are arranged pre- 
cisely as in the No. 1 key-board. They are black on a white back-ground. At each 
end of the above, to the right and left, are thirteen capitals, which are white on a 
black back-ground. The whole key-board is arranged in six rows of twelve char- 
acters each. 

It will be remembered that the old style of No. 2 Type-Writer has two letters 
on each type-bar, and one set of keys for both capital and small letters, an arrange- 
ment which necessitates a complicated carriage movement and a great loss of speed, 
as, in order to print a capital, a special key must be depressed with a finger of one 
hand while the capital is being struck with a finger of the other. 

The No. 2 Caligraph has an independent key and type-bar for each letter, thus 
avoiding all complication and greatly enhancing speed. The Caligraph is construct- 
ed of the most durable materials. There is no cast or even malleable iron used. 
Every part is made of cast or rolled steel or brass, by skilled mechanics. It is finely 
-finished, and with proper care will, like the Sewing Machines, last a lifetime. 

Tht Caligraph is a great boon to Ministers, Lawyers, Manufacturers, Editors, Authors, Steno- 
graphers, Insurance Companies, Bankers, GovemmerU Officials^ Copyists, Teadixrs, Frivaie Ihmlies, 
and all who have writing to do or children to educate. ''''■'■ 

Many young men and women have already found pleasant and profitable employment, using the 
Caligraph ; any intelligent young man or woman can, by buying a Caligraph and becoming expert in its 
««e, secure a pleasant and profitable position. The demand for laborers in this field of enterprise is 
practically unlimited. ., 

No. 1. Price, including Ofl&ce Case - •; : ■^.' : ; *; • : ,^ ■ $60 00 

" 2. •• ♦• •• «• - . - ^ . V - > 80 00 

" 3. •• " _ . ,. -" " - >■"■/•> ;>:V--rW^ '■ ^>^ /■'>'■>.■ .'::' 65 00 

Address 

THE AMERICAN WRITING MACHINE COMPANY. 

213 WS8T 31st STB££T« - • - fiSW YOfiS* 




WeigUt 10 Lbe.i 

-:■;■■'-''■•■■, ' Ko. 1. '■'■■■ 

195 Broadway, New York. Dec. 2d. 1881. 
A. W. M. Co. V. 

Gentlemen: — The two Uo. 2 Caligraphs pur- 
chased of you for use in the law oflSce of Dillon 
& Swayne, are giving excellent satisfaction. 
We prefer the large to the small Roman type. 
I have used the Type-Writer for several j'ears, 
but the Caligraph is much superior. I cannot 
enumerate all the points of superiority, but 
will refer to some of them. Its lightness and 
portability is a great improvement. It is also 
a great advantage to have a separate lever for 
each type. This avoids the necessity of shift- 
ing from Upper to Lower Case, and the memory 
is not so taxed to remember the kind of t}7)e 
you are writing with. 

The arrangement of the letters on the key- 
board is the best I have ever seen. The align- 
ment is perfect, and the arrangement for retain- 
ing it, excellent, t : ■■_■■ - 

The ribbon movement is sure and easy, and 
the shifting of the ribbon requires but a single 
touch of the fingers. 

The arrangement for carrying the paper is 
simply perfect, doing away with the rubber 
bands, which were continually breaking or 
getting weak ; drawing the paper sideways, and 
spoiling the regularity of the spaces between 
the lines. 

The pace-keys on either side is a great con- 
venience, and much better than the old way of 
having a space bar in front. 

The carriage movement is very uniform, and 
has no hitches or sluggish points, as in the 
Type- Writer. The trip which disengages the 
carriage, and enables the operator to move it 
at pleasure is invaluable. 

Changing the line spacing is done instan- 
taneously and with a single movement of the 

hand. The bell and stops are in front, and th« 
parts which require tension are iJl accessible. 

The Caligraph does not get out of order. It 
is easily cleaned. The new machines have a 
very strong stroke, which makes them very de- 
sirable for manifolding. As many as four to 
six good copies can be taken at once, on thick 
paper. 

Paper of any widtJi can be used, also envel- 
opes or postal cards, without changing the 
machine. 

The variety of type used in the Caligraph is 
another great advantage. The large Roman 
letters used in your No. 2 are especially admir- 
ed by all who have seen^ the machine or ita 
work. 

I use the machine personaUy, several hours 
daily, and find it all that could be desired. 
You are at liberty to refer any od« to me joa 
may desire. 

Bespectfxdly years. - ■ 

E. H. SailTH, Stenognybei; 



V 



■ 4 







75I«r'?i5=^ 



I 



...t. 



12 



-.1 



AMERICAN RAILROAD JOURNAL 



FAIRBANKS' ^'^^^^^^s^ales 

.'"f- aoo ns^oiDHF^o-AuiTioniTS. '■ 

ADAPTED TO ALL CLASSES 
OP BUSINESS. 




Railroad and Waretionse Tracks, 

AN COPYING- PRESSES. 

' Oldest and Largest 
Scale Works in the World. 

B c Y ONLY THE GENUINE. 



Dorm "Warehouse Scales. 



:F',A.'rR>B.A,I^"IgS dc CO., 
r 31 1 Broadway. Nev York. 



JOHN STEPHENSON CO, 

-„■, _ ; . ; [Limited.] 




NEW YORK. 



pl Superior Elegance, Lightness and Dii- 

1 . Tability. The result of 50 years' experi- 
1. ence. 

J Adapted to all countries and climates. 

. >| , Combining all valuable improvements. 
Shipped to Foreign Parts with greatest 
care, and at most favorable rates. 

j THE ROGERS 

LOCOMOTIVE MD MCmE WORKS, 

Faterson, IT. J. 

Haring extensire facilities, we are now prepared to 
furnish promptly, of the best and most approved de- 
scription, either 

- COAL OR AVOOD BUKNINU j . 
XjOOOAffOTIVB BITCHITE3S, 

: I AND OTHEB VARIETIES or 

'.:'.: KAILROAD iriACIII^ERT. 



J. S. ROGERS, rresH 
R. S. HUGHES, Sec 



YesH. \ 
Jec'y. I 
, SupH. J 



Paterson, N. J. 



T^ S- BTCJO-XTrnS, TxeasvLxer. 

44 Exchange Place, Ne-w York. 



PATENTS 

We continue to act as SoUcltors for Patents, Caveats. 
S^^^'^H?' Copyrights, etc., for the United States 
^?S?^^^J^-I°8:land, France, Germany, etc We 
Iiave had thirty-five years' experience. 

Patents obtained through us are noticed In the Sci- 
»Tinc AMERICAN. This large and splendid lllus- 
tnUed weeklypaper, $3.aOayear,shows the Progress 
Sf^wf®' ^ y^7 interesting, and has an enormous 
r^iSfv.*^* /5<lres8 MUNN A CO., Patent SoUcI- 
viSv^r^*- of SciEfmnc AMERICAN, 37 Park Bow, 
ItewYorfc. Hand boot about Patents free. 



^ttJk^St^ 



4 



t 

AMEBIGAN BAEBOAD JOMAL. 

^ PUBLISHED WEEKLY BY THE 

Aieiican Bailioad Joniml Goipany, 

iTo. 23 XjiToert^r Street, 

NEW YORK. 

I - ■■ . " 

The AMERICAN RAILROAD JOURNAL, the 
oldest railroad paper in the world, was established 
during the construction of the first 100 miles of rail- 
road in this country. Its files of the past fifty years 
furnish a complete record of the development of 
American railroads and faithful chronicles of the 
kindred financial interests. It contains features of 
special value to investors and others desirous of being 
readily acquainted with values and transactions con- 
nected with the development and working of our 
railroad systems, and much of interest to the general 
reader. It is toMen by leading railroad men, inves- 
tors and banking houses in this country and Europe, 
where it has long been a recognised authority in its 
special field, being recommended as such by " Cham- 
bers' Encyclopaedia" and other standard foreign and 
domestic publications. We give below a few extracts 
.rom opinions of the press : 

From " Herapath's Railway Journal," London. 

The American Railroad Journal, one of the 
most honest and outspoken of American papers. 

From the " Journal of Commerce," New York. 
The American Railroad Journal, a most valu- 
able weekly newspaper. Is now half a century old. 



From th« " Cincinnati Price Current." 

The Americait Railroad Journal's list of pat- 
rons ik- composed largely of the oldefit and heaviest 
financial houses in the United States, Oreat Britain 
anl the Continent, and of railway companies, manu- 
facturing'establishments and banking and commer- 
cial bouses in this country. 



" From the " Pittsburg (Pa.) Chronicle " 

I The American Railroad Journal is authority 
00 railroad news. 



Froia the " Washington (D. 0.) Law Reporter." 
The American Railroad Journal is a most val- 
uable publicHtion, and to all persons interested in 
American railroads, earnings, dividends, etc., etc., it 
is almost invaluable. ... -f 

■^.■..•■- i •: '■. .\ ■-■■■ ^ ■.,:■ ■■'■• 



A ME RIC AN 

REFRiaERATOR I 

New York, Oct, 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 
sential Oils, Mineral Waters, 
Lager Beer, Ales and Porters, 
Oysters, or, in fact, any class of 
goods that needs protection 
from heat or cold while in tran- 
sit to the West and Southwest, 
either in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 



BEPBieEBATOB TBMSIT COMI 



Gaaranteecl Bills of liadingr 

Time as qnick and rates ns 
loTF as by any first class fast 
freight line* j 

I^Ship from New York Tia 
X. Y. C. and H. K. .K B., St. 
John^s Park ; from Boston Tin 
Boston and Albany U. R, : 



For rates and information apply to 

FBED'K I. EVANS, 

fv fieneial Eastern Agent. 



.1- -. 



92 Wall Street, - New York. 

271 Broadway, New York, 

282 Washington Street, Boston. 

■■■■'..:■.■■:■- ,-::t 



AMERICAN RAILROAD JOURNAL. 



■4: '.. 



. .M;'.- 



13 



THE CALIGRAPH. 



< 



< 

Q 







ffl 



= Weight aoLbi^ 



THE CALIGHAPH is a machine inTented to take the place ul the pen. It is operated by touching 
keys as in playing the piano. The writing, which is always neat and legible, and can be copied in a letter- 
press like ordinary pen writing, is done with wonderful ease and about three times faster than with the 
p.n. Its use is learned in from two weeks to two months' time. It manifolds, giving from three to twenty 
copies at one impression. It aids composition, does away with bad penmanship, and saves time, labor and 
money. It \\ the best-known means of teaching spelling and punctuation. These qualities render it indis- 
pensible to business men, or all who have writing to do or children to educate. 

THE CALIQRAPH is the invention of Mr. G. W. N. Yost, who was mainly instrumental in placing 
the TrP£-WRiTER before the public, and who for the past seven years has given his entire attention to 
to writing machines. His long experience and thorough knowledge of the defects of the old style of Writ- 
ing Machines, have enabled him to combine in the CALIORAPH all the good, and to leave out all the bad 
elements of Writing Machines, aa heretofore made. 

The No. 1 machine is furnished with capital letteis, figures, and punctuation marks only. Its ke^ -board 
contains forty-eight characters, which are arranged in six rows of eight each. 

No. 1 Caligraphs are made with four different styles of type, as follows : Large and small Gothic, and 
large and small Roman. 

The No. 2, or upper and lower case Caligraph, is like the No. 1 in all respects, 
except that it is furnished with both capital and small letters, and is made larger to 
admit of the use of extra keys, type-bars, etc., for the additional char : < u u 1 oth 
machines are operated in the same manner, and are about equal in speed.' 

The key-board of the No. 2 machine is arranged as follows : It contains, in all, 
keys for seventy-tw o characters. Forty-eight of these, occupying the centre of the 
board, are lower-case letters, figures, and punctuation marks, and are arranged pre- 
cisely as in the No. 1 key-board. They are black on a white back-ground. At each 
end of the above, to the right and left, are thirteen capittils, which are white on a 
black back-ground. The whole key-board is arranged in six rows of twelve char- 
acters each. . ;-,■-■ .•■■^ : -r-,- .••■■,,-.;■■> ;.;■;;:■ .. v.,,-:./-^- ;;:;-. .-; 

It will be remembered that the old style of No. 2 Type-Writer has two letters 
on each type-bar, and one set of keys for both capital and small letters, an arrange- 
ment which necessitates a coqiplicated carriage movement and a great loss of speed, 
as, in order to print a capital, a special key must be depressed with a finger of one 
hand while the capital is being struck with a finger of the other. 
.^ The No. 2 Caligraph has an independent key and type-bar for each letter, thus 
avoiding all complication and greatly enhancing speed. The Caligraph is construct- 
ed of the most durable materials. There is no cast or even malleable iron used. 
Every part is made of cast or rolled steel or brass, by skilled mechanics. It is finely 
finished, and with proper care will, like the Sewing Machines, last a lifetime. 

Thi Caligraph is a great boon to 3finisters, Lawyers, Manufacturers, Editors, Avihors, Steno- 
graphers, Insurance Companies, Bankers, Oovemmeni Officials, Copyists, Teachers, Private Families, 
and all who have vyriting to do or children to educate. 

Many young men and women have already found pleasant and profitable employment, using the 
Caligraph ; any intelligent young man or woman can, by buying a Caligraph and becoming expert in its 
use, secure a pleasant and profitable position. The demand for laborers in this field of enterprise is 
practically unlimited,]^;,: ,;i;^--:y<:;: - ' '-■;' ■. /■-■/:' •''-■•;::-•••;,:• r-. ■;■?• ■■.'':- '■' ■"■■- ■''''■- -.v'. .-*■■:■. ^ ■ 

No. 1. Price, including Office Case - • -: K'^ $60 00 

, - . ■^--^.^.^•••>V:':■■^■^>•■^-■•■'■■■^'"r^ "*^ 80 00 



3. 



(i 






«« 



«( 



Address 



65 00 



THE AMERICAN WRITING MACHINE COMPANY. 

213 "WEST 3l8t STBEET, - -» - NE"W TOBK. ^, 




Weight 10 Lbe. j 
No. 1. 
195 Broadway, New York, Dec. 2d, 1881. 
A. W. M. Co. 

Gtntlemen: — The two No. 2 Caligraphs pur- 
chased of you for use in the law oflSce of Dillon 
& Swayne, are giving excellent satisfaction. 
We prefer the large to the small Roman type. 
I have used the Type- Writer for several jears, 
but the Caligraph is much superior. I cannot 
enumerate all the points of superiority, but 
will refer to some of them. Its lightness and 
portability is a great improvement. It is also 
a great advantage to have a separate lever for 
each type. This avoids the necessity of shift- 
ing from Upper to Lower Case, and the memory 
is not so taxed to remember the kind of typo 
3'ou are writing with. J .•" ' 

The arrangement of the letters on the key- 
board is the best I have ever seen. The align- 
ment is perfect, and the arrangement for retain- 
ing it, excellent. 

The ribbon movement is sure and easy, and 
the shifting of the ribbon requires but a single 
touch of the fingers. 4. : ■ . > 

The arrangement for carrying the paper is 
simply perfect, doing away with the rubber 
bands, which were continually breaking or 
getting weak ; drawing the paper sideways, and 
spoiling the regularity of the spaces between 
the lines. ' • ■ ' 

The pace-keys on either side is a great con- 
venience, and much better than the old way of 
having a space bar in front. 

The carriage movement is very uniform, and 
has no hitches or sluggish points, as in the 
Type- Writer. The trip which disengages the 
carriage, and enables the operator to move it 
at pleasure is invaluable. 

Changing the line spacing is done instan- 
taneously and with a single movement of the 

hand. The bell and stops are in front, and the 
parts which require tension are iJl accessible. 

The Caligraph does not get out of order. It 
is easily cleaned. The new machines have a 
very strong stroke, which makes them very de- 
sirable for manifolding. As many as four to 
six good copies can be taken at once, on thick 
paper. 

Paper of any width can be used, also envel- 
opes or postal cards, without changing the 
machine. 

The variety of type used in the Caligraph is 
another great advantage. The lai^e Homan 
letters used in your No. 2 are especially admir- 
ed by all who have seen the machine or its 
work. 

I use the machine personally, several hours 
daily, and find it all that could be desired. 
You are at liberty to refer any one to me you 
may desire, 

Eespectfully yours. 

£. H. SMITH, Stenographer. 



,«■■ 



•T 



T-yj^r" 



14 



AMERICAN RAILROAD JOURNAL. 



-4< 



Baker & Godwiirs 

PRINTING HOUSE. 



ESTABLISHED 1850. 



I MODERN RtlLWIkY PRINTING. 

pe«i»l attjeittlfkn arlven to this class of worlc. 

This esta^shment is very extensive, adapted to every 
variety and style of Printing, and the proprietors hope 
to be favored with a share of Railway patronage. Esti- 
mates furnished on application. 

BAKSR & OODWrN", Printers, 

No. 25 Park Row, 

Dirwjtly opp. Post Office. NE"W YORK. 

Printing of all kinds at greatly reduced rates. 



' THE RAILWIkY TIMES 

AND JOINT-STOCK CHRONICLE. 



The Railway Times was established in the year 1837, ana 
as consistently maintained the purpose for which it was 
tarted — to give an independen taccount of all matters of 
Importance to railway shareholders, not neglecting, at 
the same time, the duty of keeping its readers well in- 
formed on all matters of commercial interest. 

It is published every Saturday. Price 6d. The price of 
subscription for one year is £1 1«. 

No. 2 Exeter Street Strand W. C. London. 



KNOX & ^HAIN, 

Manufacturers of Engineering and Telegraphic Instru- 
ments. No. 716 Chestnut Street, Philadelphia. Two 
Medals awarded by the Franklin Institute, and one by 
the Centennial. 



flOUSATONIC RAILROAD 

. THE ONLY LINE RUNNING 
T EC DR O TJ O- S C-A-I^S 

Bstwesn New York, Great Barrington, Stockbridge, Len- 
ox, and Pittsfleld— the far-famed resort of the 

Berkshire Hills 

Western Massachusetts— the ••Switzerland of America." 

Two through trains daily between New York City and 
all points on the Housatonic Railroad, from the Grand 
Central Depot via the New York, New Haven, and Hart- 
ord Kailroad at 8:05 A. M. and 3:43 P. M. ' ; , 

L. B. STILLSON, Supt. 
H. D. AVERIIili, Gen. Ticket Agt. 
%'t Offices. Bridgeport, a.. A'ot). 7, 1881. 



i NO OTHER LINE IS SUPERIOR TO THE 

FITCHBURG RAILROAD I 

HOOSAC TUNNEL ROUTE 

"WEST. 



8.30 A 



A. DAY 



■,•»;■ . 



EXPRESS. 



rhrough drawing-room car to Rochester, N. Y., connecting witli tlirough sleeping car 
lor Cincinnati, Cleveland, Toledo, DETROIT AND CHICAGO, 



3. 




p. CINCINNATI 

M. EXPRESS. 



■V y 



Pullman Sleeping Car attached, running through to Cincinnati without change. (Onh 
Line running Pullman Cars irom Boston.) This car runs via Erie Railway, making direc 
3onnection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an( 
New Mexico. 



3. 




P. ST. LOUIS ? 

M. EXPRESS. 







Boston, Hoosac Tmrnel, and Western 



XTSZ 



PULLMAN LINE between BOSTON and the WEST, 

— VIA THE — 



i' 



All the Modem Apfliakes- 



iinXEB'S PATENT PLATFORMS AND BUFFERS. 
. WESTINGHOUSE IMPROVED AIR-BRASES. 
COACHES HEATED BY STEAM. 
I <-• STEEL RAILS. IRON BRIDGES. 

ASK FOR TICKETS VIA THE 1. 

HaoMC Tmml am tie N. Ym luE Eiic am Westhi Rr. 



THE ONLY LINE which runs a THROUGH SLEEPING-CAR from . 

BOSTON TO ST. LOUIS WITHOUT CHANGE! 

f ARRIVING AT 8.00 A.M, SECOND MORNING. 

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville 
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo: 
Kansas, Colorado, Texas, and all points in the , . - , . . 

SOUTHWEST. 

P. PACIFIC 

M. EXPRESS. 

The only line running a through sleeping car via Buffalo and Detroit without change, 
arriving at Chicago at 8,00 A.M. second morning, making sure connections with through Ex- 
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast, Wisconsin, Minnesota 
^nd all points in the 

WEST AND NORTHWEST. 

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED. 

niis Great Short Line passes through the most celebrated scenery in the country, including the famotifl 

HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel 
j . i in America, and the third longest in the world. /.^ • |- •; : 

ncket8, Drawlns-Room and Sleepingr-Car Accoiniiiodation!« may 'ic secured In Advance 

by Applyinir to or Addressinir 

■' » ■;• ■ ■ » > . ' '1..'' '. • 
11 



WASHINGTON STREET, BOSTON. 



I 



250 



JOHN ADAMS, General Superintendent. ; -v^^^ :^^ 

F. O. HEALD, Acting Gen'l Pussenger and Ticket Agent 






American railroad journal 






15 



First-Class English 

IROX AlVD 8TE£L K41LS 

AT LONDON PRICES, F. 0. B. 



We also purchase all classes of Railroad Securities, 
and negotiate loans for Railroad Companies. 

WiH A . G U E§T & CO , " 

Nos. 41 and 43 Fine Street, New Tork. 



Safety Railroad Switches 

WITH MAIN TRACK UNBROKEN. 



Railroad Crossings, Frogs, and Other 
;; i; Railroad Supplies. 



MANUFACTUBED BT THK 



WHARTON RAILROAD SWITCH CO., 

, - PHHiADELPHXA. - 

Works: *i3d and Washington Ave. 
Office: t!8 Souih 3d Street. 



CAR 

PUSHER 



MADE ENTIRELY OF STEEL 

ONE MAN with it can easily 
move a loaded oar. 

Manufactured by E. P. DWI6HT, 

Dealsb in Railboad Supplies, 
407 LIBRARY ST., 

PHILADELPHIA. 



FIDELITY AND CASUALTY COMPANY, 

Vv CASH CAPITAL/ - ^-^:W^^^^ 

Bond^ issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility, 
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per- 
formance of the duties of employes in all positions of trust. 

-AlOOI3DB3?TT FOLIOIES. 

Policies issued against accidedts causing death, or totally disabling injury, insuring from Fmc Huvdbed 
DoLLABs to Ten Thousand in case of death, and from Thbee Dollabs to Fifty weekly indemnity in case of dia 
abling injuries. 

WM. M. RICHARDS, iV«'«. . JOHN M. CRANE, .S«ry. 



IDIR,EOrrOR,S 



George T. Hope. " 

G. G. WillLia.ms.' .;: 
J. S. T. Stranaban, 



H. B. Clatljn, 
A. S. Barnes. 

H. A. HURLBUT. 



W. G. Low. ^ 
Charles Dennis. 
S. B. Chittenden. 



George S. Cor. 
Wm. M. Richards, 
a. B. Hull. 



PARDEE CAR WORKS. 



A.lyffBR,IO-A.N- 

COMBINATION S A W. 

• Without Lathe. 





.WATSONTOWN, PA. 

PARDEE, SIOER k (0., UlUITED 




PKOFRIETOKS. 

^NffeLxiixflstotvirers of 

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, (/oal, Mine, and Hand Care; 

Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables; 

Car Castings, Railroad Forgings, Rolling-Mill Castings, 

. ; . Bridge Bolts and Castings, v 

tSfWe have, in connection with our Car Works, an extensive Foundry and Machine-shop, and are preparad 
to do a general Machine Business. : , :7- : > 1 



iv / Chairman, 
ARID PARDEE. 



-^ 



Treasurer and General Manager, 
H. F. SNYDER. » i 



Secretary, 
N. LEISER. 



Price $6 without Lathe ; with Lathe, $8. 



' AODRSSS THE MANUTACTDKBaB, 

C. M. CliANDALL &. CO., 

MONTROSE. Susquehanna Co.. PA. 



NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY. 

C. "W. LEAVITT, Agent. ' 



fSTEEL 
CASTINGS 



FEOM 1-4 TO 10,000 lbs. WEIGHT. 

True to pattern, sound and solid, of unequaled strength, toushness and 

durability. 
An invaluable substitute for forgings or cast-irons reqairing three-fold 

strength. 
CROSS-HEADS. ROCKER-ARMS. PISTON-HElDS. ETC., foi 

Locomotives 
15,000 Crank Shafts and 10,000 Gear Wheels of this steel now mnniny 

prove Its Puperiorityover other Stoel Castings. 
CRANK-SHAFTS, CROSS-HEADS and GEARING, speciahiea. 
Circulars and Price Lists free. Address 

CHESTER STEEL CASTING CQ. 

407 l.lbrary St., PHILADELPHIA 
'Works, CH£ST£R. Pa. 



JiEW YORK, U|E E RIE, AMD ff ESTEBI BAltffAI 

^ . ;; ; ^ to the tr^a.-v-eliHsto fxjblio. ^^ , 

During the Centennial season— six months closing September 10, 1876 — ^the Erie Railway cairied almcit 
Thbee Million passengers, without a singe accident to life or limb, or the loss of a piece of baggage. 

And for a whole year the official records of the United States Post Office Department show the itrirala • 
Erie Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines. 

Facts well worthy the consideration of travelers. '' ' ,' ■ 



E. S. BO^WEN, General Superintendent. 



JNO. N. .ABBOTT Om. 






:i.:' 



>v. 



16 



AMERICAN RAILROAD JOURNAL. 




Thia material is iudistructible and therefore valuable lor all purposes of 



HEAT, 



1 • 



80UJ\D 



--A.N-ID- 



FROST-PROOFING. 



1 



Over 3,600,000 lbs. now in actual use ; 614,000 IbH. of which haVe been applied in cars as shown in diagram. 

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution. 

Sample and circular free by mail. 



UNITED STATES MINERAL WOOL COMPANY, 



N"o. IS Oortlandt Street, 



N-B'W "YOR.IC. 



EAGLE 



TVBE CO., 

614 TO 626 WEST 24TH ST 

New York. 



Boiler 



Tubes, 



Of all reg^ular sizes, of the 

besi material, and 

warranted. 

Locomotive Water-Grates a 

specialty, and 2e; per cent 

below regular prices. 



THE PERFECTED 

REMINGTON 




Prices lower than other Mannfactnrers. 



wo PAYMENT REQUIRED U^Tlii 

TUBES ARE TESTED AND 

SATISFACTORY. 

MB —Send for Stocic List. 

ALOJNZO FOLLETT, 

© TT-y A T .T . STI^EET- 



Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A 1. 



TYPE-WRITER. 

A "WRITING - MACHINE which combines 
ease with rapidity and accuracy, 

and economy with elegance 
' and convenience. 

Adap^d to general use. Every machine 
guaranteed. 

Send for Circulars with names and testimonials of 
recent patrons. 

, E. HEMGTON & SONS, 

281 aud 283 Broadway, New York. 
38 Madison Street, Chicago. 
124 South 7th Street, Philadelphia. 
21 Soutli Howard St., Baltimore. 

[MAoAion tfaAs pa#«r.] 

Piiine, Webber & Co., 

! Bankers and Brokers, 

IVo. S3 Oevonsliir«> St., Bo<9ton. 

(Members of the Boston Stock Exchange.) 

Devote special attention to the purchase and sale of 
Stocks and Bonds in the Boston market, the careful se- 
lection of securities for investment, and the negotiation 
of commeicial paper. 

Wm. a. Paine. Wallace G. Webbeb. C. H. Paine. 



ALL ABOUT KA^rSAS 



RAILROAD IRON. 

The undersigned, agents for the manufacturers, ar« 
prepared to contract to deliV2r best quaJity American 

Welsh Steel or Iron Bails, and of any required 
weii^ht and pattern. Also Speigel and Ferro Manganese. 

PERKINN & CHOATE, 

33 Nassau Street, WICW TORIf. 

John H. Davis & Co., 

BANKERS AND BROKERS, 

IVo. 1? l¥all St.. nK'W %ork. 



THE WEEKLY CAPITAL is an eight-page, 48-column 
paper, published at Topeka, Kansas, giving full and re- 
liable State news, crop and weather reports from every 
County. fl.OO per year. Sample copy free. 



Interest allowed on temporary and standing deposits. 
Stocks and Bonds bought and sold on Commission only, 
either on Margin or for Investment. 

_ ; ! 

ISSTABLiISHBD IN 1836 ~l ' 

LOBDELL GAR WHEEL GOMFANI, 

IVilmington, Delaware* 



GEORGE G. LOBDELL, JVMideni. . • j 

WILLIAM W, LOBDELL, Secretary. 

P. N. BRENNAN, Treasurer. 



J. C. BEACH, Treas. 



C. H. ANTES, Sec-y. 



THE 



:1^ 



ALLEN PAPER CAR WHEEL COM. 

GenM Officr, 340 Broadw«y, N. Y. 

WoBKs AT Pullman, III., and Hxtdson, New Tobk. 



AN INDESTRUCTIBLE WHEEL FOR PASSEN- 
GER CARS AND ENGINES. i - 



E. W. Vandebbilt. 



E. M. Hopkins. 



VANDERBILT & HOPKINS, 

Railroad Ties, ^ 

Car and Railioao Luhui, White aid Yeuow Pme and Oal 
120 Liberty Street, W. Y. 

Also North Carolina Pine Boards, Plank, and Dimen- 
sions Lumber to order. General Railroad Supplies. 



A- 



:h.'.;t-: 



r . *. ■ ■» 




steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



Second Quarto Sebibs. — ^Vol. XXXVni., No. 2.] 



NEW YORK, JAWTJARY 14, 1882. 



[Whole No. 2,386.— Vol. LV. 



Perpetuation of Testimony in Patent 
..- Suits. ,;■-■;■■ . '--: 



A CASE in equity of considerable interest to 
patent lawyers, as well as to legal antiquarians, 
-has been decided by Judge Benedict in the 
United States Circuit Court for the Eastern 
District. The complainant, it appears, has been 
infringing a certain patent owned by the defen- 
dant, and now files his bill in equity under 
section 866 of the United States Revised Sta- 
tutes to have recorded in the court the testi- 
mony of a witness upon which the complainant 
alleges that he relies to show that the patent is 
void for want of novelty, in case a suit shall be 
brought against him by the defendant for the 
infringement. The witness is a very old man, 
and the complainant further alleges in his bill 
that the defendant is waiting for the witness to 
die before bringing his suit, so that the com- 
plainant may be deprived of the protection 
afforded by his te"itimony. On this ground he 
prays that the testimony may be recorded in 
perpetuam rei memoriam. The defendant de- 
murred to the bill, and Judge Benedict, by the 
decisoin referred to, has overruled the demurrer. 
The interest of the case to patent lawyers arises 
from the fact that, so far as appears from the 
books, no such suit has ever before been 
brought in any case involving patent rights, 
nor, in fact, has any bill for the recording of 
testimony strictly in perpetuam rei memoriam 
ever been pleaded under the section of the Re- 
vised Statutes referred to. One of the points 
made upon the argument was that the bill 
ought to be dismissed because the complainant 
was able to obtain a iy^ judicial settlement of 
his rights by inducing the Attorney-General to 
bring a suit in the name of the United States 
to annul or repeal the patent. But waiving the 
question whether such a suit could be brought 
in the name of the United States, Judge Bene- 
dict decides that the complainant has no power 
to bring such a suit, nor is it such a remedy as 
to deprive the complainant of his right to insti- 
tute the present proceeding. Legal antiquari- 
ans will also find interest in the decision on 
account of the antiquated character of the pro- 
cedure. In England at the present time, and 
generally in the United States, the subject of 
the perpetuation of testimony is regulated by 
special statutes giving a summary course of 
procedure for that purpose. The ancient prac- 
tice of obtaining the same end by bill in equity 
survives only within the production of a few 
Of the older States and of the Federal courts. 



which still follow in these matters the English 
practice of the time of Lord Eldon. A curious 
feature of the practice is the taking of the testi- 
mony in perpetuam rei memoriam immediately 
after the cause is at issue, without waiting for 
the complainant to establish his right to do so 
by proof, an anomally which Prof. Langdell in 
his summary of equity pleading thinks arose 
from confounding the testimony to be perpetu- 
ated with the testimony to establish the right 
to perpetuate it. If this explanation is correct, 
it furnishes a striking instance of the way in 
which the force of reason is sometimes over- 
ridden in law by the power of long-established 
usage. Richards & Heald, and Henry P. Star- 
biick, appeared for the complainant, and Good- 
rich, Deady & Piatt, for the defendant. 



The Barings. 



iHE Barings have been among the most 
famous of English bankers. They are of Ger- 
man stock. There is a kind of ecclesiastical 
flavor about them. Their English founder was 
a Bremen Pastor, who settled in this country. 
His grandson married the niece of an English 
Archbishop. One of his descendants became 
Bishop of Durham. The money was originally 
made in the rich, profitable clothing business 
in the West of England. Going into the old- 
fashioned church of the pleasant Devonshire 
to\^ of Ashburton one day, we were greatly in- 
terested by the Baring monuments. Ash- 
burton gave a title in the peerage to the chief 
of the house of Baring. It has been a rule in 
the house that when any one of them has got a 
title he goes out of the business. Sir Francis 
Baring, the first great banker, who, dying in 
1810, left a fortune of two millions, had three 
sons — Thomas, Alexander, and Henry. Thomas 
succeeding to the baronetcy, gave up the busi- 
ness. Henry hsid rather a romantic reputation 
as a lucky gambler, who was frequently able to 
break the bank of a gambling- table. He was 
the amazement of beholders, when he would 
sit down at a gambling-table at the Palais 
Royal — before such tables were happily abol- 
ished — with piles of gold and notes before 
him. The reputation of a successful gambler 
was hardly suited to the intense respectability 
of the firm, and Mr. Henry was induced to re- 
tire from the business. Alexander Baring, 
often known as "Alexander the Great," sus- 
tained and extended the fortunes of the house. 
He went to America, there the richest banker in 
England, married the daughter of the richest 



citizen of the United States. One of his gigan- 
tic transactions possesses a historical import- 
ance. After the conclusion of the great Euro- 
pean war he paid down a sum of £1,100,000, by 
which France was freed from the occupation 
of Russian, Austrian and German armies. 
"There are six great powers in Europe," said 
the Due de Richelieu—" England, France, 
Russia, Austria, Prussia, and Baring Brothers." 
In 1835 he was made Lord Ashburton. Two of 
his sons held the title, and each successively 
retired from the business. The head of the 
firm, Thomas Baring, became Chancellor of the 
Exchequer in Lord Melbourne's Ministry, and 
another member, Lord Northbrook, has been 
Governor-General of India.— iondonSoc?«<t/. 

The Cable Railway. 

No improvement has ever been made in the 
city of Chicago which has been regarded with 
as much interest as the cable railway which 
has been in course of construction on the 
South-side by the South-side Street Railway 
company during the last six months. Its near 
completion only adds to this interest, and it is 
asserted that the value of property along the 
line of the road and at the southern terminus 
has increased in propoi'tion to the progress of 
the work. The construction of this new mode 
of transportation is the work entirely of the 
South-side company, the president, Mr. Holmes, 
having visited and studied the system thor- 
oughly in San Francisco, upon which he made 
his report to the directory, that ordered him 
to adopt and perfect it at once. It has caused 
some bad feelings during the temporary aban- 
donment of State street by the companj', but 
now that the work is almost done and the peo- 
ple begin to understand the great expense in- 
volved and the blessings to come therefrom, 
they are beginning to take pride in it and long 
for its aetive operation. There are nine miles 
of road constructed in the most approved plan, 
steel rails having been used. This is an im- 
provement over all other cable roads. The ex- 
pense attached to building the road has been 
about $2,000,000. The department of mach- 
inery and all of the mechanical appliances are 
acknowledged to be the best in the world, and 
in very many respects are decided improve- 
ments on other systems. One of the special 
features that has been especially commended is 
the large winders and sheaves ; these are con- 
sidered very important factors and are for the 
purpose of preventing crystallization of the 



t'A'^AnAf. -_£, ^ J; . 



*^'^ ''J 'V -. 



18 







?''"■;.■.•. 



■-.^ 



AMERICAN RAILROAD JOURNAL. 



iX ''•fY 



rope. The very best material has been used in 
the construction of the cables. An interesting 
study is the gripping device, which is claimed 
to be another improvement over any other 
cable sj'stem adopted heretofore. Special plans 
have been taken to prevent its wearing on the 
rope. The imi^ortance of this will be better 
understood by the public when the road will 
be in active operation. The grip-cars which 
have been constructed by the company are very 
artistic in their appearance. Forty-two of these 
have been built by the company. To these 
the ordinary street cars are attached. Some 
inquiry has been made as to the mode by which 
these cars will be stopped. Mr. Holmes says 
that by means of a very ingenious device which 
controls and manipulates the tension wheels 
no diflSculty will be experienced in the stop- 
pages, or trouble anticipated from the severity 
6f the weather. In case snow or ice should 
obstruct the cable chain, such obstruction will 
be easily removed by means of a steam pipe 
heated for that purpose. The working of the 
machinery, it is claimed, creates no unpleasant 
noise to the ear. The starting or stopping will 
be milder than in the present system, all of the 
sudden checks or jerkings being avoided. The 
motion will be easy and uniform. In respect 
to rapid transit it will be a revolution in city 
travel, and a ride in one of the coaches over 
the bed road will become a luxury instead of a 
dread, as on the old system. The South-side 
company claims to be the first city railway in 
the world to adopt steel rails and t^he 21-foot 
car. The company announce that the cars are 
to be run with a special view to the comfort of 
the public. They propose that not only shall 
Chi 3ago enjoy the system, but that it shall be 
run upon a principal which will reflect upon 
the city from abroad. The system has already 
created great interest abroad, the result being 
that capitalists from Eastern cities have already 
come to Chicago to see its workings. Mr. 
Holmes is very much opposed to the proposed 
change in the name of State street, inasmuch 
as he has that name ground in the class of all 
his cars. In regard to the date upon which the 
system will go into operation Mr. Holmes is 
not certain, but says it will be in the very near 
future. — Chicago Ti7n€s. 



Strength of "Wooden Columns. 



. As extended account of his experiments at 
the Watertown Arsenal to test the strength of 
wooden, columns was recently given before a 
meeting of the Society of Arts at Boston, Mass., 
by Prof. Lanza. The main results deduced 
were that wooden bolsters or caps at the top of 
the columns are a source of weakness, as was 
proved in an experiment where the bolster was 
crushed with a pressure of 20,000 pounds, while 
the column did not yield until 375,000 pounds 
were brought upon it ; that the estimates of 
strength based upon formulas contained in the 
books are untrustworthy, as was proved when 
a column which by the formula should have 
withstood 8,000 pounds gave way at 4,000 
pounds; that allowance must be made on ac- 
count of eccentric pressure, that is, weight 
brought by the timbers of a heavily loaded 
floor upon one side of a column, not counter- 



acted by corresponding weight upon the con- 
tiguous timbers of an unladen floor; that pint- 
les are a source of weakness if not set square 
and true, whereby a rocking pressure may be 
brought upon the column ; that the deflection 
or springing of a column is unimportant com- 
pared with weakness arising from a knot or 
crooked grain, and that the text books on me- 
chanics need to be amended by having a new 
set of tables compiled from data obtained from 
experiments on full-sized timber, such as is 
used in building. 



^»— 



Mineral WooL 



One of themost striking illustrations of the possi- 
bilities of icvention in turning waste substances in- 
to important articles of utility is £een iu the conver- 
sion of theslagofirrn Rmelting furnaces into min- 
eral wool. Up to within a few years this slag was 
considered .is a worthless incumbraDce that was con- 
stantly increasing about the iron works premises, 
excepting as it was carted oflF to be used for roads, 
where it was only after a long amount of travel that 
it could be so ground up by the passage of horses 
and vehicles as to be considered desirable as a road 
bed A few years ago however a process was dis- 
covered by which this waste was destined to be 
turned into an article of great practical value ii: 
numerous ajnd widely varying directions. It Wms 
discovered that the slag while in a molten condition 
if penetrated forcibly by a jet of steam or compressed 
air, went through , a most curious transformation, a 
r».sult of which was the production of a fibrous arti- 
cle resembling wool in appearance. After consider- 
able experimenting a process of manufacture was de- 
vised and patented, by which in a very simple man- 
ner the slag was changed int) a product called min- 
eral wool and in such perfection as to be ready for 
use incmediately. 

The experiments and improvements of the past 
few years have resulted in the process of manufac- 
ture as carried on now at Stanhope, N. J., which in 
brief is as follows : While the slag is still in a fluid 
state, it is allowed t > fall in a small stream, from a 
suitable vessel, upon a jet of steam or compressed 
air, the eflFect of which is to di?i-tegrate the molten 
slag, which cools as it is carried forward in the form 
of wool, resembling sheep's wool and cotton. The 
instantaneous separation causes a thread or fibre to 
be pulled out, which varies in length, thick&ess and 
color, according to the fluidity and composition of the 
slag. When gathered up, the fibres appear to lie 
in all possible directions with relation to each other, 
in consequence of which there is no parallelism or 
common direction to the threads, so that the air 
spaces are angular in shape and microscopic in size. 
The wool is collected in a large chamber, where it 
settles in a bulky state, having a fleecy appearance. 
About eighty per cent of the product has to be rid- 
dled, forming the ordinary grade, r^-hile the balance 
IS separated py currents of air, and forms the extra 
grade. 

The uses to which mineral wool has been success- 
fully applied as a non-conductor of heat and a non- 
transmitter of sound are almo t innumerable while 
new uses for it are constantly beijig discovered by 
mechanics, builders and scientists. The underlying 
principle of the application and utility of mineral 
wool is the one long established in physics, that air- 
confining or porous bodies are the poorest conduct- 
ors, and that the passage of heat is retarded in pro- 
portion to the volume of air the insulating material 
holds from circulation. It is used on houses by ap- 
plying a thickness of about two inches to the roof, to 
prevent the passage of the sun's heat in summer 



and the escape of warm air from the house in win- 
ter,* it is used in ice houses, about steam-pipes, in 
hotels, in car building and kindred purposes to a 
great extent and in the construction of fire proof 
rooms, it being absolutely fire proof and durable in 
contact with heated surfaces ou account of its having 
no organic matter in its composition. The Health 
Commissioners of this city, at their conference with 
the master plumbers last November strongly recom- 
mended as a sanitary precaution that boilers, ranges 
hot and cold water supply pipes in exposed places be 
packed with mineral wool and properly cased int An 
idea of the cheapness of the wool is seen in the fact 
that the cost of a filling two inches thick for 100 
square feet of surface (416 lbs ) is only $4.16 for the 
ordinary grade at the works. About 3,000,000 
pounds of this useful and economical article are now 
in use, and the United States Mineral Wool Co. at 
their office 16 Courtland St., have many vjluuble ref- 
ererces as to the satisfactory results attending its ex- 
tended adoption. I 



English liocomotives in America. 



English engineers will be somewhat sur- 
prised to learn that the order has been obtained 
in the country for a considerable number of 
American locomotives for railways in America. 
They are now being built from the designs and 
instructions of Mr. James Cleminson, M.I.C.E., 
Westminster, by a leading North of England 
firm, and are on the true American type, as re- 
presented in Baldwin's America, Mogul, and 
consolidation classes, though some slight modi- 
fications are made in the arrangement of the 
compensating beams. The system of compen- 
sation is carried out completely, so that the 
wheels must bear with full weight on any road, 
just as the speculum of a large telescope is 
supported on Lord Rosse's or Grubb's system 
of connected levers. It is expected that the 
engines will show what can really be done by 
locomotives on the American type built on the 
best English methods and workmanship, and 
we shall probably learn how much truth there 
is in the off repeated statement that American 
locomotives will haul a greater load, weight for 
weight, and cylinder for cylinder, than those of 
the English type. — London Engineer, Dec. 10. 



A Wild Texas Charter. 



Chakters for private corporations or profit 
can be had by simply preparing and filing 
them after paying the fee fixed by law in the 
State Department. It is reported that a charter 
for a narrow-gauge railway to every point in 
Texas has been recently filed. It calls to mind . 
a story told by Swift of a country parson in 
England who was given to the use of very : 
strong language for one of his cloth. His clerk, 
who was allowed to use his own discretion in 
the selection of the hymn with which the ser- 
vices were opened, had already on several suc- 
cessive Sundays commenced with the one be- . 
ginning : "All people that on earth do dwell." 
When he read it out again on another Sunday 
the parson was heard in a suppressed voice to 

exclaim : " all people that on earth do 

dwell !" which, says Swift, was the most com- 
prehensive anathema of which he had ever 

he&rd.— Austin {Texas) Siftings. I 

^ ' ■ " " 

The Syndicate have undertaken the construc- 
tion of the Vancouver Island Railway. { 



AMERICAN RAILROAD JOURNAL. 



19 



PTTBLISHEB WEEKLY BY THE 

AMERICAN RAILROAD JOURNAL CO., 

At 23 Liberty Street, New York. 



Subscription, per annnm, in advance $5 00 

Foreign Subscription, including postage 6 00 



Purchases for the Amehican Raileoad Jouknal Co. are 
authorized only by the written order of Geo. F. Swain, 
Treasurer; and fhe Company will not be responsible for 
the payment of bills unless accompanied by such order. 

Subscribers are requested to report to our office any 
irregularity in receiving the Journal.. 

Contributed articles relating to Railroad matters gen- 
erally, Mining interests. Banking and Financial items. 
Agricultural development, and Manufacturing news, by 
those who are familiar with these subjects, are especial- 
ly desired. 

Payments for advertising and subscriptions should be 
made by check payable to order of the Treasurer. 



BRANCH OFFICE: 
53 Devonshire St.« Boston, I^Iass. 



Mr. Frederic Algar, Nos. 11 and 12 Clements Lane, 
Lombard Street, London, E. C, England, is the author- 
ized European Agent for the Journal. 



New York, Saturday, January 14, 1882. 

Entered at the Post Office at New York City as Second-Class 
Mail Matter. 

RAILROAD COMMISSIONERS AND 
RAILROADS LN" CONNECTICUT. 



IN few States has the utility of a well 
constituted Board of Railroad Com- 
missionei-s been better illustrated, or the 
duties of these officers more satisfactorily 
performed, both in the estimation of the 
railroad managers, the people and those 
outside of that State, who have been in- 
terested in suggestions arising there, and 
in measures adopted after their examina- 
tion and recommendation, than in Con- 
necticut. Being one of the first States 
to establish such a commission, Connecti- 
cut has been looked to as one of the 
prominent localities from which should 
emeriate many ideas, tending to improve 
the relations between the railroads and 
their employees, and the people, and to be 
of practical value to railroad managers 
themselves, in varied details connected 
with the workings of their roads. The 
Commissioners of that State, have done a 
vast amount of work within the past few 
years, in giving careful hearings and 
practical tests to theories, complaints and 
suggestions placed before them, the 
results of which are conspicuous among 
the improvements adopted, and conclu- 
sions generally accepted in railroad cir- 
cles. And this work, while persistently 
prosecuted, has been accomplished in 
such a manner as not to create the dis- 
turbance and unpleasant relations, which 
unfortunately have been witnessed in 
other localities between commissioners 



and those with whom their dnties have 
brought them in contact. v • 

An important reason which has con- 
duced to this desirable result, is that the 
people of Connecticut have not deemed 
it best to confer excessive power upon 
their Commissioners, in regard to such 
questions of transportation, as form so 
large a part of the duties of similar 
officers in other States ; those aiming to 
enforce measures judicious, or otherwitJe, 
for the suppression of alleged opportuni- 
ties for unjust discrimination and exac- 
tion. Connecticut, to be sure, is not a 
field where complaints about discrimina- 
tion would be expected in any such ex- 
tent, as in States where there were special 
motives for favoring certain localities and 
parties, where a hot rivalry existed as to 
the development of certain seaports or 
markets. Situated between New York 
and Boston, and having no rival seaport 
of her own, Connecticut can turn to either 
of these great markets with about equal 
facility and avail herself of such advan- 
tages as either may choose to offer, pros- 
pering with the prosperity of both, and 
enjoying the effect of their rivalry without 
serious, local disturbance, or inconveni- 
ence to herself. 

The ownership of Connecticut railroads 
is peculiarly local, as is the management, 
the roads being owned and managed 
largely by people living in the sections 
through which they pass. On this ac- 
count it is possible to lay complaints 
which arise promptly before the railroad 
managers themselves, instead of before 
their representatives, in which way, by 
personal communication, the cause for 
complaint can be clearly understood and 
rectified, and frequently their unreason- 
ableness readily and satisfactorily demon- 
strated, without the tedious and annoying 
delays of red tape required M-hen the 
officers of the road are far removed and 
not interested in the local affairs along 
their lines. The manufacturing, commer- 
cial and agricultural interests of Connec- 
ticut, are peculiarly fortunate in that the 
roads of their State are so largely under 
home management and ownership, and 
the Commissioners thereby are relieved 
fi-om duties which would interfere with 
their important work pertaining to other 
practical matters. 

But the success which has attended 
the work of the Connecticut Railroad 
Commissioners and the desirable position 
maintained by them in the estimation of 



similar Boards and the general public, 
while greatly assisted by the conditions 
mentioned, are largely due to the great 
pains taken to apply to the practical 
questions brought before them the most 
careful consideration and such tests as 
would be considered reasonable and just 
by experienced railroad men. They have 
been better enabled to do this on account 
of the wisdom which placed upon the 
Board as one of its active members, a 
man who has been all his business life a 
practical railroad man. An illustration 
of this manner of working, is seen in the 
coui-se pursued in the matter recently 
agitated in that State concerning the 
enactment of a law, requiring railroads to 
aodpt a safety car-coupler. A bill to this 
effect was last year referred by the Con- 
necticut Legislature to the Commission- 
ers with instructions to report upon the 
subject this year. Accordingly a public 
investigation was held at the Commis- 
sioners office in November last for two 
days, after liberal announcements -con 
cerning the same, at which a variety of 
patents were submitted and examined. 
This investigation was supplemented by 
further examinations and by personal in- 
quiry of railroad men, in various positions 
and in different parts of the State. We 
have briefly referred to some of the 
causes which resulted so admirably i« re- 
gard to the relations established by this 
particular Board of Commissioners be- 
tween themselves, the people, the rail- j 
roads and their employees, believing that j 
some of these causes hinted at, might be j 
utilized to advantage in the organization ! 
of similar Boards in other localities. As i 
an illustration of an unprejudiced opinion, i 
we conclude by quoting from their recom- 
mendation concerning the car-coupling i 
question, which, with the addition of the \ 
recommendation of some simple and j 
cheap method of improving the couplers 
of old cars was as follows : — 

" We would therefore recommend the 
enactment of a law requiring that all 
freight cars hereafter bought or built by 
the corporations operating railroads ini 
this State, shall be equipped with auto-i 
matic couplers, the draw-bars of which! 
shall be at the uniform height which has 
been recommended by the master car- 
builders, and with dead-blocks sufficient- 
ly thick to give not less than one foot 
clear space between the cars, when the 
blocks come together, and that similar 
draw-bara and couplers should be made 



..^■^M.^'i..^\ '-■i-v.?-'^'.. -. rt. ■:.M-v ■ 



20 



AMERICAN RAILROAD JOURNAL. 



use of in all renewals. If it is obiected 
that this is a half way measure, we 
answer, that is just what it is intended to 
be. To require our companies to substi- 
tute, at once, automatic couplers for those 
now' in use on their more than eiffht 
thousand freight cars would, in our jud/ 
meut, be imposing an unreasonable burden 

of expense." j 

m 

GOSHEN SUPERHEATING SAFETY 
BOILER. I 



THE Goshen Fdundry and Gas Mach' 
uery Co., are receiving most satisfac 
tory results from the practical tests wliicb. 
have been given of late, to their Goslien 
Superheating Safety Boiler, patented last 
spring. Some of these boilers in actual 
use, have affected a saving of 20 per cent, 
and upwards, in fuel over boilers replaced 
by thfm. Seven hundred and fifty 
pounds of coal is considered to -be the 
consumption required for running a 40 
horse power engine, averaging from GO 
to 70 pounds of steam, for \'2 hours with 
this bf)iler, which evaporates 15 pounds 
or more of water, to one pound of coal. 
Some of the peculiarities and advantages 
of the boiler are, that each section of 5 
horse power is separate and can be re- 
moved for repairs without interfering 
with the other parts of the boiler ; that it 
generates dry steam, is non-explosive and 
has a remarkably large heating surface, 
and also a very small grate surface. At 
the company's office, 37 Dey street, under 
the charge of Mr. Benj. Hornor, General 
Agent, can be obtained further informa- 
tion concerning what the valuable im- 
provements possessed by the Goshen 
boiler have accomj)]ish«d and illu.strated, 
in the wav of economv and durabilitv. 



sheet, attached to the mask. The interval be- 
tween the mica and the eyes allows of workmen 
who have poor eyesi^^ht wearing spectacles, and 
of W(»rkers m ith tire or in melting operations 
wearing colored glass spectacles under the 
mask, without fear of breakage of the glass, 
mica Leing such a bad conductor of heat. 
Where the mask has to be worn long it is found 
desirable to add a caoutchouc tube with mouth- 
piece for admission of fresh air ; the tube 
passes out to tlie shoulders, where its funnel- 
shaped end (sometimes holding a moistened 
sponge) is sui>ported. The mask has a sort of 
cap attached to it for tixtiire on the head. 



PERSONAL. 



Mica Masks. 



A wELL-KNowx German manufacturer of mica 
wares, Herr Raphael, of Breslau, now makes 
mica masks for the face which are quite trans- 
parent, very light and atfected neither by heat, 
nor by acids. They afford good i^rotection to 
all workmen who are liable to be injured by 
heat, dust or noxious vapors ; all workers with 
fire, metal and glass melters, stonemasons, etc. 
In all kinds of grinding and polishing work the 
flying fragments rebound from the arched 
mica plates of the mask without injuring them. 
These plate's are fixed in a metallic frame, 
which is well isolated by means of asbestos, so 
as not to be attacked by heat or acid. Thesa 
masks allow the turning of the eyes in any 
direction, and, as against mictx spectacles, they 
afford the advantage of protection to the whole 
face. In certain cases, the neck and shoulders 
may also be guarded by a sheet of cloth impreg- 
nated with tire-proof material, or by asbestos 



Ex-PosTMASTEK Genekal James lias assumed 
the duties of his new position as president of 
the Lincoln National Biink. 

Justice Gray. was sworn in on the Uth inst., 
and took his seat on the bench of the United 
JStates Supreme Court, at Washington. 

GEoiuiE Skixxee has been appointed Superin- 
tendent, and Joseph llobinson Treasurer and 
Assistant Superintendent of the Scioto Valley 
liailroad. 

James D. S:.uth, of Stamford, Conn., has 
been upiwintej by the Governor, State Treas- 
urer, in the place of David P. Nichols, de- 
ceased. 

Wm. C. Egleston, of' this city, has been elec- 
ted a director of the Cleveland and Pittsburg 
Railroad Company, in the place of F. T. W^al- 
ker, deceasd. 

Benjamin F. Newcomer has been elected a 
director of the Philadelphia, Wilmington and 
Baltimore Railroad Company, in the place of 
Samuel Harlan. 

Frank M. Barker has been appointed to en- 
gineer the survey of 70 miles of road which is 
to be built frpm Corry, Pa., to Buffalo. His 
headquarters will be at Erie. 

IsA.4c Hinckley has been re-elected presi- 
dent ; 'A. J. Cas.satt, vice president, and Robert 
Craven, treasui-er of the Philadelphia Wilming- 
ton and Baltimore Railroad Company. 

Dr. John W. Draper, author of "Intellectual 
Development of Europe, " history of "Ameri- 
can Civil War," and " Conflict between Science 
and Religion," died on the 4th inst., aged 71, 
at his home, Hastings-on-Hudson, N. Y. 

John C. Gault has been appointed second 
vice president and general tratfic manager of 
the Wabash system, with Robert Andrews, gen- 
eral superintendent ; aud W. F. Merrill, as his 
assistant. The ticket and freight departments 
have been placed under the charge of H. C. 
Townsend and H. C. Bird respectively. 

Charles W". Case has been appointed super- 
intendent of the Hastings and Dakota Division, 
of the Chicago, Milwaukee and St. Paul Rail- 
way, with headquarters at Minneapolis, Minn. ; 
Fred D. Underwood, superintendent of the 
Southern Minnesota Division, with headquar- 
ters at La Crosse, W^is. ; Henry R. Wilson, 
superintendent of the Iowa and Minnesota 
Division, with headquarters at Minneapolis, j 
Minn.; John Jackson, superintendent of the 
Sioux City and Dakota Division, with head- 



quarters at Sioux City, Iowa. George W. San- 
born continues as superintendent of the Iowa 
and Dakota Division and branches, with head- 
quarters at Mason City, Iowa. N. Monsarrat 
has resigned the position of general superinten- 
dent of the Chesapeiike, Ohio and Southern 
Railroad, to become general superintendent of 
the Cleveland, Akron and Columbus Railroad. 

John G. Motley has been appointed superin- 
tendent of the Southern Division of the Mobile 
and Ohio Railroad. '' 

Engineer John M. Unglaub who had chaise 
of the engine of the train on the Baltimore and 
Potomac Railroad, conveying ex-PreEident and 
Mrs. Hayes, and family from W^ashington, on 
the 5th of March, 1881, which was run into by 
an extra train going South, and who stood so 
manfully at hit post, reversing the engine as 
soon as he saw the extra, has recovered from 
the injury* sustained by him at that time, and 
resumed his place on the road. On the 2d of 
January, he was waited upon by a personal 
friend of the late President, who handed him a 
fine gold watch and chain, valued at $700, ac- 
companied by a letter from Mr. and Mrs. 
Hayes, asking him to accept it as a token of 
their gi-atitude and memento of his coolness 
exhibited on that occasion. The watch was 
made to order in Philadelphia, and on the 
outer case there is a monogram, "J. M. U.," 
and on the inside of the case is a suitable ip- 
scription, but Mr. Unglaub, having been 
charged not to allow it to get into the papers, 
the exact inscription cannot be procured. . 



i^»— 



ORGANIZATION. 



The Wilmington, Wrightsville and Jackson- 
ville Railroad Company was organized in Wil- 
mington, N. C, on the 29th ult. with Joseph 
T. Foy president. Books of subscription are 
to be opened along the line of the proposed 
road. 

The John P. King Manufacturing Company 
was organized at Augusta, Ga., on the 28th ult. 
with a capital of $1,000,000. Charles Estes is 
president and C. C. Baldwin, of New York, and 
O. H. Sampson, of Boston, are among the di- 
rectors. 

The directors of the Milford and Bay Shore 
Railroad Company, elected on the 5th inst., 
are A. J. Cassatt, John P. Green, William A. 
Patton, John W. Hall, Isaac Jump, George V. 
Massey, Bradford Murphy, and Josiah Bacon. 
The officers are : President, Manlove Hayes ; 
secretary and treasurer, Wm. T. Smithers. 

The Brooklyn and Long Island Railway 
Company, who propose to build a railroad from 
the Blackwell's Island Bridge through Long Is- 
land City and Brooklyn, have elected the fol- 
lowing directors : Richard G. Phelps, Ludwig 
Semler, James R. Allaben, J. Corbin, E. H. Cole, 
F. T. Parson, David H. Fowler, Nathaniel 
Biggs, W. F. Bruff, E. O. Phelps, Alexander 
Dugan, E. S. Keller and M. C. Earl. 

The directors of the Erie and Huron Railway 
Company, elected on the 29th ult. are : Hon. 
Arch. McKellar, J. B. Bain, Alex. Trerice, 
Dresden; L. H. Stevens, Chatham; F. A. Man- 
ning, A. MacNabb, Vernon Smith, Toronto. A 
meeting of directors was held immediately 



.i ■ 



V pj".*y" I mfii.'-fvr^t^j^if^^ i.§m^h:m^'r ■"**' 



..M I... ,lll."PVPJli 



J. ^I'li,!*^ 



Pi^^i'' 



AMERICAN RAILROAD JOURNAL. 



21 



afterwards, when Hon. Arch. McKellar was 
elected president of the Board, Mr. Trerice, 
vice president; and Mr. MacNabb, secretary. 

The directors of the Baltimore and Delta 
Narrow Gauge Kailway Company, elected on 
the 5th inst., are : Wm. H. Waters, James P. 
Streett. C. J. Moore, Stevenson Archer, Eli 
Tucker, E. S. Rogers, Caleb T. Taylor, S. G. 
Boyd, Thomas Armstrong, C. W. Hatter, G. O. 
Wilson, Henry R. McNally and Foulk Jones. 
The officers are : Wm. H. Waters president ; 
S. G. Boyd, secretary ; Thomas Armstrong, 
treasurer, and C W. Hatter, auditor. 

At the annual meeting of the stockholders 
of the Cleveland and Pittsburg Railroad Com- 
pany, held at Cleveland, O., on the Ith inst., 
the following directors were elected: J. N. Mc- 
Cullough, B. F. Jones, George B. Roberts, 
William Bucknell, Frederick Sturges, S. J. Til- 
den, Charles Lanier, William C. Egleston, E. 
A. Ferguson, J. V. Painter, James F. Clark and 
R. P. Ranney. The election of officers rests 
with the lessees of the road, the Pennsylvania 
Company. 

The directors of the Dayton and Union (a 
branch of the Cincinnati, Hamilton and Day- 
ton) Railroad Co., elected on the 4th inst. are : 
James McDaniel, P. Smith, R. D. Marshall, of 
Dayton ; J. H. Devereux, E. R. Thomas, W. H. 
Poppleton, Stevenson Burke, of Clev»5land ; F. 
H. Short, John Carlisle, of Cincinnati. The 
officers are F. H. Short, president ; Stevenson 
Burke, vice president; G. H. Russell, secretary 
and treasurer, E. B. Thomas, general manager; 
P. A. Hewitt, auditor. 

The directors of the Topeka and Western 
Railroad Company are : William B. Strong of 
Boston, 0. C. Wheeler of Topeka, G. G. Dexter, 
J. T. Burr. Alden Speare, C. L. Thorndyke, W. 
Powell Mason, Elisha Atkins, F. L. Ames, all 
of Boston : Sidney Dillon of New York, Gov. 
Veale of Topeka, E. B. Purcell of Manhattan. 
The capital stock is fixed at $6,000,000, divided 
into 60,000 shares. This new road is to starf 
from Topeka, Kansas, thence to the town ot 
Eskridge, in Waubaunsee county, and on 
through Morris, Dickenson, Saline, Ottawa, 
Lincoln and Osborne counties. Its length will 
be 250 miles. 

The directors of the New Haven and North- 
ampton Railroad Company, at their meeting in 
New Haven on the 4th inst., elected the fol- 
lowing Board of Directors : C. N. Yeamans, 
George J. Brush, Daniel Trowbridge, Horatio 
G. Knight, William D. Bishop, George H. Wat- 
rous, Charles H. Pond, Ezekiel H. Trowbridge 
and E. M. Reed. The directors subsequently 
re-elected C. N. Yeamans president and Ed- 
ward A. Ray secretary. This is the first an- 
nual meeting since the New Haven and Hart- 
ford Railroad Company purchased a controll- 
ing interest in the road. It now has r". majority 
of the directors. 

At a meeting of stockholders of the Terre 
Haute and Indianapolis and Terre Haute and 
Loganspoint Railroad Companies held in Terre 
Haute, Ind., on the 4th inst., the former elect- 
ed as directors W. R. McKeen, Geo. E. Farring- 
ton, Alexander McGregor, D. W. Minshall, 
Henry Ross, Josephus Collet and F. C. Craw- 
ford. The directors elected W. R. McKeen 



president, Geo. E. Farrington Secretary, and J. 
W. Cruft, treasurer. The latter elected W. E. 
McKeen, Geo. E. Farrington, J. B. Hager, John 
B. Williams ahd D. W. Minshall, directors, who 
elected W. R. McKeen president, and Geo. E. 
Farrington secretary and treasurer. 

The following is the organization of the New 
York and New England Railroad Company for 
the year 1882 : directors, Jesse Metcalf, Provi- 
dence; Legrand B. Cannon, Sidney Dillon, 
Cyrus W. Field, Jay Gould, R. Suydam Grant, 
Hugh J. Jewett, Russell Sage, New Y^ork ; Eus- 
tis C. Fitz, John H. French, William T. Hart, 
Henry L. Higginson, James H. Wilson, Boston; 
Frederick J. Kingsbury, Waterbury, Conn., and 
George B. Roberts, Philadelphia. Executive 
Committee, William T. Hart, Legrai^d B. Can- 
non, Jonas H. Frerfch, Jay Gould and James 
H. Wilson (ex officio). Finance Committee, R. 
Suydam Grant, Cyrus W, Field, Henry L. Hig- 
ginson, James H. Wilson (ex officio). Presi- 
dent, James H. Wilson; general manager, Sam- 
uel M. Felton ; treasurer, George B. Phippen ; 
clerk, W. Perkins. - ; 



CONSOLIDATION. 



The Canadian Pacific Railwaj^ Sjndicate took 
possession on the 1st inst. of the St. La^yrence 
and Ottawa Railway. It is understood that no 
change is to be made in the personnel of, the 
management. 

The Cleveland, Columbus, Cincinnati and 
Indianapolis, the Wabash, St. Louis and Paci- 
fic, the Indiana, Bloomington and Western, 
the Cincinnati, Indianapolis, St. Louis and 
Chicago, and the Pennsylvania Company, now 
operate, by ownership, lease or otherwise, all 
of the twelve separate lines centering in Indi;in- 
apolis, which were originally managed by as 
many different companies. 

The St. Louis, Arkansas and Texas Railway 
company of Missouri, the St. Louis, Arkansas 
and Texas Railway company of Arkansas, and 
the Missouri, Arkansas and Southern Railway 
company have been consolidated under the 
name of the St. Louis, Arkansas and Texas 
Railway companj'. This road enters Arkansas 
in Benton county, and is being constructed 
southward via Fayetteville to the Little Rock 
and Fort Smith railway. 

The stockholders of the Pittsburg and West- 
ern and Red Bank and Youngstown Railroad 
companies met at Pittsburg, on the 30th ult. 
and consolidated, under the name of the Pitts- 
burg and Western Railroad company. The 
Red Bank and Yoijttigstown is to run from Red 
Bank, Pa., to State line in Lawrence county, 
and there connect with the Y^'oungstown branch 
of the Pittsburg and Western road. This route 
it is claimed will be sixtj'-five miles shorter 
than yet projected for transmission of freight 
from East to West. 

Articles of consolidation were filed in the 
office of the Secretary of State of Illinois on 
the 6th inst. of the Joliet and Indiana Railway 
Company and the Laporte and Indiana Railwaj' 
Company. The new oi'ganization is to be known 
as the Joliet, Indiana and Eastern Railwaj- 
Company, is to have a capital stock of SI, 000,- 
000, and the directors are to be those of the 
Laporte and Indiana Railway Company, name- 



ly : A. W. Paige. William H. Campbell. C. E. 
Sargeant, John F. Wilson, C. T. Baxter, A. C. 
Badger * and F. D. Raymond. The present 
president and secretarj' of the Laport« and In- 
diana are to remain officers of the consolidated 
company. 



CONSTRUCTION. 



The grading of the Harrisburg and Potomac 
Railroad is rapidly api)roaching Shippensburg. 
The tracks will be laid by ISIarch next. 

The South Mountain Rjulroati Company has 
commenced the survey of an extension from 
Hunter's Run to Gettysburg and other points. 

Work is progressing with rapidity on the 
second track in the Hoosac Tunnel. Eleven 
thousand feet have been laid, and the central 
shaft is nearly reached. 

The Harbor Grace (Newfoundland) StanJani 
says the Railway Companj' are purcha.sing in 
England enough railway material to build, 
equip and operate 160 miles of railway, inc-lud- 
ing rails, carriages, locomotives, implements, 
etc. 

The Schuylerville branch of the Boston, 
Hoosac Tunnel and Western Railroad was 
opened on the 9th inst., to JSamtoga. The 
tonnage of the Hoosac Timnet line increased 
in December 50 per cent and the earnings 25 
per cent. 

The Mexican government has granted a eon- 
cession, with a subsidy of S8,000 i)eif kilometre 
to Count Telefeper, the agent of De Castro, for 
a railroad from Matamoras to Tampeco, on con- 
dition that De Castro shall acquire the branch 
road from Matamoras to Victoria, belonging to 
the Gould-Degrees concession. 

Thos. L. Roekjers, vice-president of the Cali- 
fornia Southern Riiilroad Company, has receiv- 
ed a concession from the Mexican government 
for the construction of a raih-oad and tek^igraph 
line from a convenient point of junction with 
the Sonora Railroad to San Diego. The length 
of the proposed road will be nearly 4<)() miles. 

The Bethlehem Times says that track laying 
has been completed from Belvidere to Danville 
on the Lehigh and Hudson River R'lilroad for 
a distance of thirteen miles, and coal is now 
being shipped to the latter place. The road is 
to be pushed forward as rapidly as possible, 
and in a few weeks will be running to Andover. 
It is also to be run to Portland and Bangor, in 
Northampton county. 

Connection has been made between the Dan- 
ville, Olney and Ohio River Rjiilroad and the 
Chicago and Eastern Illinois Railroad thus 
securing entrance to Chicago. The directors 
decided to extend the road this winter to a 
connection with the Louisville, New Albanv 
and St. Louis Rjulroad, and during 1882 to 
complete the system to the Ohio river at Padu-^ 
cah. 

Contracts have been let by the Chicago and 
Northwestern Railway Company, to Carmichael 
and O'Rourke for grading, on the Callope 
branch to the Vermillion River, to be finished 
Aug. 1 ; on the Algoma branch, to be finished 
to Swan Lake by Aug. 1 ; to Spirit Lake, by 
Oct. 1 ; Tracy, by Nov. 1, and, on the Maple 



ifi' I* It- \'n • iVi mViri ^'**~ -■■'""-• •'^'''-' -'■^ "■■'- 



22 



AMERICAN RAILROAD JOURNAL. 



River branch, to be finished to Sioux City by 
Sept. 1. I * 



Statement of the Public Debt of 
United States, January 1, 1882. 



DEBT BEABINO INTEBE8T. 

Amount 
Outstanding. 



$101,827,200 00 
47,855,700 00 



6 per cent loan, 1861-'81. 

continued at 3 3^ per ct. 
6 per cent loan 1863-'81 

continued at 332 per ct 
5 per cent funded loan of 

1881 401.503.900 00 

4>^ per cent funded loan 

of 1891 250,000.000 00 

4 per cent funded loan of 

1907 738.772,550 00 

4 per cent refunding cer- 
tificates 575,250 00 

3 per cent navy pension 

fund 14,000,000 00 



Accrued 
Interest. 

$1,781,974 29 

837,473 82 

2,342,106 08 

937,500 00 

7.387.725 50 

6.752 50 

210.000 00, 



Aggregate of debt bear- 
ing interest $1,554,534,600 00 $13,502,532 19 

Interest due and unpaid 1.331,845 66 

DEBT ON WHICH INTEBEST HAS CEASED SINCE MATUBITT. 

Amount Interest due 



Debt bearing interest in 
coin, viz : 

Bonds at 6 i)er cent., con- 
tinued at 3>a per cent. 

Bonds at 5 per cent, con- 
tinued at 3>^ per cent. 

Bonds at 43^ per cent 

Bonds at 4 per cent 

Refunding certificates... 

Navy pension fund. 3 p.c 



BECAPITtJLATION. 

Amount 
Outstanding. 



Interest. 



$149,682,900 00 

401,503,900 00 

250,000,000 00 

738,772.550 00 

575.250 00 

14.000.000 00 



$1,654,534,600 00 $14,814,377 85 
Debt on which interest has 
ceased since maturity. 11,528.265 26 714,985 31 



Debt bearing no int., viz: 
Old demand and legal- 
tender notes $346,740,936 00 

Certificates of deposit 9,590,000 00 

Coin & silver certificates. 73,863,350 00 

Fractional currency 7,076,926 92 



Unclaimed interest. 



$437,270,212 92 



7.256 61 



Outstanding. 
$57,665 00 



1,104 91 
1,250 00 

3.275 00 

20,000 00 

8,000 00 

10,000 00 

370.700 00 

58.650 00 

77.050 00 

490,350 00 

411.300 00 



4 to 6 per cent, old debt, 1837. 
6 per cent. Mexican indem- 
nity stock, 1846 

6 per cent . bonds, 1847 

6 per cent, bounty land scrip, 
1847 

5 per cent. Texas indemnity 
bonds, 18.50 

5 per cent. bond.s, of 1858. . . . 

6 per cent, bonds, of 1860 

6 per cent. 5-20 bonds, 1862, 

called 

6 per cent. .5-20 bonds, June, 

1864, called 

6 per cent. 5-20 bonds, 1865, 

called 

5 i)er cent. 10-40 bonds, 1864, 
called 

6 per "'int. Consol. bonds, 

1865. called 

6 per cent. Consol. bonds. 

1867. caUed 1,103.850 00 

per cent. Consol. bonds. 

1868, called 315,750 00 

6 per cent, loan, Feb. 8, 1801, 

matured Dec. 31. 1880 142.000 00 

per cent, funded loan 1881, 

caUed 3,558,750 00 

Oregon War Debt, March 2, 

1881. matured July 1, 1881. 134.500 00 

6 per cent loan of July 17 and 

Aug. 5, 1861. matured June 

30. 1881 1,107,400 00 

6 per cent loan of July 17 and 

Aug. 5, 1861, matured Dec. 

24. 1881. called 

6 per cent, loan of March 3, 

1863,matured June 30, 1881. 
1-10 to 6 per cent. Treasury 

notes, prior to 1846 

1-10 to 6 per cent. Treasury 
• notes, 1846 

6 per ct. Treasury notes, 1847. 

3 to 6 per cent. Treasury 
notes, 1857 

6perct. Treasury notes,1861. 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1861 

5 per cent. 1 year note8,1863. . 

6 per cent. 2 year notes, 1863. 

6 per ct. compound interest 
notes, 1863-64 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1864-65 

6 per cent, certificates of in- 
debtedness. 1862-63 

4 to 6 per cent, temporary 
loan, 1864 

3 per cent, certificates, called. 



2.763,300 05 

326,350 00 

82,525 35 

6,000 00 
950 00 

1,700 00 
3,000 00 

16,300 00 
43,225 00 
35,200 00 

225.260 00 

140.900 00 

4,000 00 

2,960 00 
5,000 00 



k unpaid. 
$64,174 81 

85 74 
22 00 

213 06 

2,945 00 

600 bb 

8,439 32 

170 95 

18.897 52 

110.386 10 

15.815 21 

204.455 36 

24.203 90 

6,660 00 

90,739 38 

6.373 50 

44.068 50 

46,636 40 

10.023 00 

2.668 06 

206 00 
57 00 

99 00 
364 50 



$2,003,333,078 18 $15,536,619 67 
Total debt, principal and interest to date, 
including interest due and unpaid. . . $2,018,869,697 35 

AMOUNT IN TBEASUKY. 

Interest due and unpaid $1,311,845 66 

Debt on which interest has ceased 11,528,265 16 

Interest thereon 714,985 31 

Gold and silver certificates 73,863,350 00 

U. 8. notes held for redemption of cer- 
tificates of deposit 9,590,000 00 

Cash balance available January 1. 1882. 156.369.534 53 

1 $253,377,980 76 

Debt, lessam't in Treas'y Jan. 1, 1882... $1,765,491, 717 09 
Debt, lessam't in Treasury Dec. 1, 1881.. 1,778.285,340 65 



Decrease of debt during the month $12 793.623 56 

Decrease of debt since June 30, 1881 $75,107,094 89 

BONDS ISSUED TO THE PACIFIC BAILROAD COMPANIES. IN- 
TEREST PAYABLE IN LAWFUL MONEY. 

i Accrued 

1 Amount 

' Outstanding. 

Central Pacific bonds, 1862-64$25,885.120 00 
Kansas Pacific bonds, 1862-64 6,303,000 00 
Union Pacific bonds, 1862-64 27,236,512 00 
Cent. Branch Union Pacific 

bonds, 1862-b4 1,600,000 00 

West'n Pacific Bonds, 1862.64 1,970,560 00 
Sioux City & Pacific bonds, 
1862-04 1,628,320 00 



Interest 

not paid. 

$776,553 60 

189.090 00 

817.095 36 

48,000 00 
59.116 80 



48.849 60 



1,104 43 
2,173 35 
1,779 80 

45,968 07 

4,763 87 

253 48 

244 19 
394 31 



Totals $64,623,512 00 $1,938,705 34 

Interest paid by the United States, $51,467,272 02; in- 
terest repaid by transportation of mails, kc, $14,707.- 
886 34; interest repaid by cash payments : 5 per cent, 
net earnings, $6.55,198 87; balance of interest paid by 
United States. $36,104,186 81. 

The foregoing is a correct statement of the public 
debt, as appears from the books and Treasurer's returns 
in the Department at the close of business, December 
31. 1881 . Charles J. Folger, 

Secretary of the Treasury. 



<l 



The Coal Trade. 



Aggregated of debt on which 
Interest has ceased since 
maturity $11,528,265 26 $714,985 31 

debt BEARING NO INTEREST. 

Demand notes, 1861-62 $59,920 00 

Legal tender notes, 1862-03 346,681,016 00 

Certificates of Deposit 9,500,000 00 

Coin certificates, 1863 5,188,120 00 

Silver certificates. 1878 08,675.230 00 

Unclaimed interest 7,256 51 

Fractional currency, 1862, 

1863 and 1864 $15,451,860 92 { 

Less amount es- [ 

ti mated as lost -. . 

or destroyed, 

act of June, ' 

21,1879 8,375.934 00 



7 075.926 92 

Aggregate of debt bearing no 
interest,..,.,, ...,,, $437,270,212 93 



$7,256 



The leading coal carrjMng companies make 
the following reports of their tonnage for the 
week ending December 31, and for the year to 
same date, compared with their respective 
amounts carried to the same time last year: 

Week. 1881. 1880. 

Reading Railroad 135.993 760,344 518,231 

Schuylkill Canal 27,656 

Lehigh Valley 100.602 570*772 3861373 

Delaware, Lackawanna and 

Western 79,037 4.359,990 3,539.086 

Shamokin 22,241 1 ,088.917 930.363 

Central R. R. of New Jersey. . 95,680 4,478,443 3.785,760 
United R. R. of New Jersey. . 33,904 1,625 882 1.182 281 

Pennsylvania Coal, 21.699 1,427,747 1.123.674 

Delaware and Hudson Canal. . 74.574 3.656.385 2.047.594 
Huntingdon and Broad Top 

Mountain 9.402 518.420 417.330 

Penn. and New York 25.365 134,898 98 806 

Clearfield, Pa 37,818 2,401,987 1,739,872 

The total tonnage of anthracite coal from all 

the regions for the weak ending Dec. 31, as 

reported by the several carrying companies, 

amounted to 495,354 tons, against 343,183 tons 

in the corresponding week last year, an increase 

of 152,171 tons. The total amount of anthracite 

mined for the year is 29,361,021 tons, against 



24,274,724 tons for the same period last year, 
an increase of 5,086,297 tons. The quantity of 
bituminous coal sent to market for the week 
amounted to 75,118 tons, against 67,916 ton^, 
in the corresponding week of last year, an in- 
crease of 7,201 tons. The total amount of bitu- 
minous mined for the year is 4,994,061 tons, 
against 4,371,320 tons for the corresponding 
period last year, an increase of 622, 741 tons. 
The total tonnage of all kinds of coal for the 
week is 570,472 tons, against 411,100 tons in 
corresponding week last year, an increase ot 
159,372 tons, and the total tonnage for the coal 
year is 34,355,082 tons, against 26,646,054 tons 
to same date last year, an increase of f, 709, 038 
tons. The quantity of coal and coke carried over 
the Pennsylvania Railroad for the week end- 
ing December 24 was 200,723 tons, of which 
145,610 tons were coal and 55,113 tons coke. 
The total tonnage for the year thus far has been 
9,017,167 tons, of which 6.651,276 tons were 
coal and 2,365,891 tons coke. These figures 
embrace all the coal and coke carried over the 
road east and west. The shipments of bitu- 
minous coal from the mines of the Cumberland 
coal region during the week ended December 
31 were 33,378 tons, and for the year 1881, 
2,231,453 tons, an increase of 148,750 tons over 
1880. The coal was brought from the mines 
as follows: Cumberland and Pennsylvania Eail- 
road— week, 27,220 tons; year, 1,930,648 tons ; 
decrease as compared with 1880, 85,886 tons. 
George's Creek and Cumberland Railroad — 
week, 4,131 tons ; year, 211,955 tons ; in- 
crease over 1880, 211,955 tons. Baltimore . 
and Ohio Railroad— week, 1,365 tons; year, 77,- 
516 tons; increase over 1880, 11,424 tons. West 
Virginia Central and Pittsburg Railway — week, 
1,020 tons ; year, 11,257 tons; increase over 
1880, 11,257 tons. It was carried to tide- 
water as follows : Baltimore and Ohio Rail- 
increased compared with 1880, 177,318 tons; 
road — week, 28,141 tons ; year, 1,443,755 tons. 
Chesapeake and Ohio Canal — week, 25 tons ; 
year, 505,365 tons ; decrease compared with 
1880, 96,169 tons. Pennsylvania Railroad — 
week, 5,435 tons ; year, 278,598, tons; increase 
compared with 1880, 63,866 tons. Nearly one- 
tnird ot the whole shipments of the region were 
mined by the Consolidation Company— 739,414 
tons. Only seven shippers sent out over 100,- 
000 tons, the New Central shipping 301,000 
tons, and the George's Creek and Iron 255,000 
tons, the others sending out less than 200,000 
tons. — Phil. Ledger, Jan. 9. [ 



INCORPORATION. 



A CHARTER was granted on the 5th inst., in 
Pennsylvania to the American Combined Iron 
and Steel Company, of Philadelphia, with a 
capital of $2,000,000. The company had been 
formerly chartered under the laws of New 
York. 

The papers of organization of the Central 
Pacific Railroad Company, of Wyoming, has 
been filed with the Secretary of Wyoming 
Territory by Charles Crocker, Charles F. Crock- 
er and W. V. Huntington, incorporators and 
trustees. Capital stock, $13,500,000, in 135,- 
000 shares. 

The Mattoon and Northern Railway Com- 






Z-TJ:- ■• 



^ ■fT-tii'j s»^* ' «j ^J'^iJiWSVf ■. 



i,!l.l^ji.-lfJifP.i;. 



AMERICAN RAILROAD JOURNAL. 



23 



Secretary of State of Illinois. It is proposed 
pany, has filed articTes of incorporation with the 
to construct a road from Mattoon to some 
point on the Illinois Midland Railroad. The 
principal oflfice is to be at Mattoon. The capi- 
tal stock is $30,000, and the incorporators and 
first Board of Directors are Ira James, C. M. 
Doyle, J. G. Wright, Thomas M. Lytle and A. 
M. Ritter, all of Mattoon. 

The St. Augustine Construction Company 
has been incorporated under the general laws 
of New Jersey, with a cash capital of $50,000, 
and has an office at Red Bank, Monmouth 
county. The incorporators ai'e W. J. Lawton, 
of Jacksonville, Fla. ; A. M. Lyon, of New York, 
and G. V. Sneden, of Red Bank. The object 
of the company is to engage in building and 
equipping railroads and steamboats and buying 
and improving lands in Florida. 

The Secretary of State of Illinois, on the 7th 
inst., licensed John E. Cowles, of New York 
City ; John S. Wompoon, W. R. Jouette and 
Nelson C. Gridley, of Chicago ; and Benjamin 
F. Wompoon, of Aledo, 111., to organize the 
Rock Island and Southwestern Railway Com- 
pany, with the principal office in Chicago. 
The capital of the company is $1,000,000. The 
company proposes to build about 35 miles of 
railway and telegraph lines from Rock Island, 
HI., to New Boston, Mercer County, 111. 

J Articlrs of incoporation were filed on tha 
6th inst., with the Secretary of State of Illi- 
nois, by the Freeport and Northwestern Rail- 
road Company, which is to have a capital stock 
of $36,000. This company proposes to con- 
struct a line from Chicago to Fox River and 
across through Kane County to Freeport, a dis- 
tance of 145 miles. The principal office is to 
be at Freeport, and the incorporators and first 
Board of Directors are John F. Smith, Henry 
J. Porter, Alonzo V. Richards, M. H. Wilcoxon 
and Warren C. Clark, all of Freeport. 

The charter of the Topeka and Western Rail- 
way Company was filed with the Secretary of 
State of Kansas, on the 4th inst. The new 
road is to start from Topeka, thence to the 
town of Esdridge, in Wabaunsee County, and 
on through Morris, Dickinson, Saline, Ottawa, 
Lincoln and Osborne counties. Its length will 
be 250 miles. The directors are William H. 
Strong, of Boston ; C. C. Wheeler, Topeka ; 
Alden Speare, J. T. Burr, F. G. Dexter, S. L. 
Thorndike, W. Powell, Sidney Dillon, J. T. 
Dillon of New York ; G. W. Veale, of Topeka, 
and E. B. Purcell, of Manhattan. The capital 
stock is fixed at $6,000,000, divided in 60,000 
shares. 

A CHAKTER was Issued by the Secretary of 
State of West Virginia, on the 3d inst., to the 
Kanawha and Chesapeake Railroad Company. 
The capital stock is $3,000,000. The incorpora- 
tors are H. C. Parsons, H. D. Whitcomb and S. 
McG. Fisher, of Richmond, Va.; S. A. Miller, 
of Charleston, W. Va. ; and Joseph S. Miller, of 
Wheeling. The route of the road is as follows : 
Commencing at or near Cannelton, in the 
county of Kanawha, and running by the most 
practicable route, to a point at or near the 
mouth of the South Branch of the Potomac 
river, in the county of Hampshire, with the 
right to build a branch line to a point on the 



Prin- 



Potomac river, in the county of Mineral 
cipal office, Charleston, W. Va. 

Articles of incorporation of the Cincinnati 
and St. Louis Air-Line Railroad Company were 
filed on the 26th ult., in the office of the Sec- 
retary of State of Illinois. The route of the 
proposed railroad is from East St. Louis to the 
Wabash river, at Palestine, or near that point, 
and running through the counties of St. Clair, 
Madison, Clinton, Rond, Marion, Fayette, Clay, 
Effingham, Jasper and Crawford ; also a branch 
from the city of Effingham, Northwesterly, 
throv.gh Effingham and Clay counties to a junc- 
tion with the Toledo, Burlington and St. Louis 
Railroad, at or near Holliday, in Shelby county. 
The principal office of the company is to be at 
Robinson, Crawford county. The capital stock 
is $2,800,000, and the incorporators and Board 



of Directors are John S. Cooper, Eric Winters, 
George Bass, William E. Loan and William W. 
Garley. 

Illinois Central Railroad. 

During the month of December, 1881, the 
traffic on the lines operated by this company 
was (estimated): 

In niinois $595,190 00 

In Iowa (leased lines) 169,964 00 

Total $709,154 00 

The traffic for the same month in 1880, on 
the same mileage, was (actual): 

In Illinois $522,565 31 

In Iowa (leased lines) 150,616 33 

Total $673,181 64 

During December, 1881, the land sales were 
1.384.22 acres for $8,185.32, and the cash col- 
lected on land contracts was $9,244.98. 

L. A. Caxlin, Sccrdary. 




1 







PERFECTieN 






f 




A Triumph, in Scientific Progress. 



Whek we take a retrospective glance at the 
primitive efforts of our forefathers to subvert 
the forces of Nature to the necessities of man 
and contrast their now almost absolute meth- 
ods with the more modem and scientific sub- 
stitutions, viz : steam, gas, electricity, &c., we 
cannot but exclaim that man has •' progressed 
continually" and now occupies a prominent 
place on the plane of civilization and enlight- 
enment. 

We are led to these remarks, by having re- 
cently witnessed the practical operations upon 
a verj' large scale of an improved apparatus 
invented by Professor S. N. Carvalho for heat- 
ing air and superheating steam. His process 
not only heats atmospheric air to any temper- 
ature from 100 degrees to 800 degrees but reg- 
ulates the temperature and quantity as desired. 
500 to 10,000 cubic feet per minute may be 
transferred to great distances and utilized for 
drying lumber, grain, ^bricks, boiling sugar. 



soap, beer, baking bread, &c., and heating ware- 
houses and large buildings economically, prac- 
tically and without danger. The introduction 
of this novel way to utilize hot air, superced- 
ing 'in many instances the expensive use 
of steam, is a public benefaction, and we re- 
spectfully call the attention of our readers, es- 
pecially those interested in car building, dry- 
ing grain and lumber, to a careful examination 
of its merits. 

The apparatus is simple in the extreme and 
consists of setts of double cylinders placedjverti- 
cally in a furnace, as per "Patent office drawing" 
annexed. They rest on an iron plate which also 
sets on a buck or iron furnace. The appara- 
tus, as seen in operation at the establishment 
of Wilson & Adams, on 1st Avenue, this 
=city, dried perfectly without checking 3500 
thousand feet of lumber just from the 
mile in 35 hours at the nominal expense of 
about twenty cents per thousand feet for fuel. 
^Professor Carvalho's office is at No. 120 Lib- 
erty Street, New York. 



■'Ali'MfcfifiLT?'*-'^** '-''-' ^-^^'^^'g^-'^ -L4jK.2tk^^ 



24 



AMERICAN RAILROAD JOURNAL. 



New York Stock Exchange. 

(Thursday's quotations follow money article.) 
Closing Prices Jor the week ending Jan. 11. 

Th.5. F.6. Sat.7. M. O.Tu.lO.W.ll. 
Adams Express 14.5 117 >i 149 149 

Albany and Susq 130 130 

1st mortgage 

2d mortgage 

American Express.. 93 92 >4 93)^ 93 93% 

Atlantic & Pac. Tel 

Burl.. C. R. * Nor 

Ist mortgage 08.. 99?^ 993^ 9.)% 99»i 100 

Canada Southern . . 52 'g' 63 »4 53^^54?^ 55 54 
1st mortgage guar 96;^ 95% 95 >^ 95 J^ 95 ?i 

Central of N. Jersey 90 90Ji 91)^ 92 >^ 91 Ji n% 

1st mort. 1890.... 118'^ 118*i 119 

78. consol. ass 114 114 

78, convertibleaas 1'23J^ 

7s. Income 103 101 J^ 102 

Adjustment 105 107 107 >^ 

Central Pacific 9H4 91% 92 >^ 92?^ 93 93 

6s, gold 113 ^i 113>^ 113>4 ll3)i 

Ist M. (San Joaq) 109 

latM. (Cal. & Or.) 103)^ 104 

Land grant 6a 107 105?i 106 

Chesapeake & Ohio. 25 24?^ 26 25>i 25 24)i 

Chicago and Alton. 129 129?i 130)i 130^ 131 i 

Preferred 

^Ist mortgage 119% 

Sinking Fund 

Chi,, Bur. & Quincy 134 135 135 1353^ 136 136?^ 
7s, Consol. 1903 127,'4 125,^^ 

Chi., Mil. & St. Paul 106 V^' 107 108 109 Ji lOO'i lOS'i 

Preferred 121 120 121 121?^ 122 121 >^ 

Ist mortgage, 8s 

2d mort., 7 3-lOs 120 121 

78, gold 

1st M. (La. C. div) 115;4' 

IstM. I. &M.div.) ■ 

Ist.M. (I. & D. ext.) 114 ,... 

IstM. (H.&D. div.) 114 114 114 113% lU 114 

lstM.(C.&M.div.) 

Consolidated S. P 118?^ 119 

Chi. & Northwestern 124?:^ 124 ?i 125 126 '4 126 126 '„ 



Preferred 137 j^ 136 ,'i 138 1^ 138 139?i 



1st mortgage. 

Sinking Fund 68 109 109?i 110 

Consolidated 78 

Consol. Gold bo'ds 123 1-23 123,'i 124 

Do. reg 123 123 

Chi., R. Isl. & Pac. 131'^ 131 s^ 132,>ii 132?^ 133 

68, 1917, c 125 126 125>i 

Clev.,Col.,Cin.&Ind. 78^^ 79% 80)^ 79 80 82% 
1st mortgage 

Clev.& Pittsburg gr 133 134 135 

78, Consolidated. 135»i 

4th mortgage 112 112 

Col.,Chi.,&Ind.Cent. 20'4' 21 21% 2IJ4 21 Ji 21 »4 



1st mortgage. 



2d mortgage 

Del. & Hud Canal. 107'4 107 107 106',' 106?^ 106>^ 

Reg. 78.1891 112 112 112 

Reg. 7s, 1884 105 

7|, 1894 ... 

Del. , Lack. & Western 123 ^^ 124 '4 124% 124 124 i23% 

2d mortgage 7s 

78, Consol. 1907 

Erie Railway 

1st mortgage 126 

2d mort. 5s, eit 

3d mortgage 105?^ 

4th mort. 5s, ext '. . 112 

5th mortgage 113 112 

7s, Consol. gold. . 123 Ji 129 >^ 129?^ 

Great West. 1st mort 1083^ 

2d mortgage 104>i 104 103% 109 

Hannibal* St. Jo.. 95 95 '4* 95 U' 95 95^4' 95(4 

Preferred 108 101% 108?^ Ill '4 109'-, 109% 

8s. Convertible 108 111% 111% 

Houston & Tex. Cen 85 

l8t mortgage Ill 110 Hl.T 

lUinoia Central... 128'^ 129 '4. 129 >i 129'.^ 130 131 

LakeShore&MichSo llO^i 111 lllf^ 112Ji 113% 113% 

Consol. 78 130 

Consol. 7s, reg 



2d Consolidated 124% 



Leh. & W. B. 78, Con 

Long Dock bonds 

LouisviUe & Nash. 95 >i 97 98 97% 97% 97% 
7s, Consolidated. 121 100% 121% 

Manhattan 51 49% 51 51 61 

Met. Elevated 85% 87% 88% 89 

1st mortgage 100 99% 100 100 100 100% 

Michigan Central.. 84% 85% 85% 86% 87% 86% 

78, 1902 123% 124 

M.S.&N.Ll8t,S.F 107% 

Morris & Essex.... 122 121% 121% 121 

Ist mortgage 

2d mortgage 116 

7» of 1871 122% 121% 123% 123% 

7«, Convertible... 

7g, Conso" li.ated 124 

N-\.Cen. AH'ud.R. 129,% 129% 129% 130% 131% 130% 

«>•, 8. F. 1883 102% 102% 



68, S. F., 1887 110 110 

let mortgage 134% 

1st mortgage, reg. 133 132% 133 

N. Y. Elevated 106>j 105% 106 105% 107 

1st mortgage... . 115% 116% 116% 117 

N. Y. & Harlem 

Preferred 

Ist mortgage 

1st mortgage, reg 

N. Y., Lake Erie &W* 39 '4' 39% 39% 39% 40% 40% 



79 



80 



81% 81% 81% 82 



97% 97% 98U 98% 98% 99% 
95 .... 95% 94% 96 '4 

.... 170% 172 170% 170 



35% 

74% 

35 



36% 

75% 

36 '4 



36% 

75% 

36 



39 35% 

75% 74% 

36 4 36% 



Preferred 

2d Consolidated . 

New 2d 5s fund . 

N.Y.,N.Hav'n&Hart .... 

North Mo. 1st mort 

Northern Pacific . . . 35% 

Preferred 73% 

Ohio & Mississippi. -35% 

Pretored 

2d mortgage 120% 

Consolidated 7s 116 

Consol. S. Fund 116% 117 

Pacific Mail S. S. Co 40 41% 41% 41% 41% 41% 

Pacific R. R. of Mo 

1st mortgage 

2d mortgage 

Panama 195 195 

Phila. & Reading.. 64% 66 66% 66% 66% 65% 
Pitts.Ft.W.&Chi.gtd 134 134% 134 

Ist mortgage 

2d mortgage 

3d mortgage 

Pullman Palace Car 125 134% 133% 135 134 

Quicksil'r Min'g Co 12 12% 



58/ 



57% 58 



40 



59% 



Preferred .... 57 

St. Louis & San Fran 40 40 

Preferred 58% 57 58% 58 U 

1st Preferred 104% 104 104% 104% 105% 

St. L.. Alfn & T. H 42 

Preferred 88% 90% 

1st mortgage 

2d mort. pref 107 

Income bonds 

St. L.,IronMt. & S 

1st mortgage 117 

2d mortgage 109% 108% 

Toledo and Wabash 

1st mortgage 110 

2d mortgage 

7s, Consolidated.. 104-4 104% 10434 

St. Louis Division 107% 

Union Pacific 1153i 116 116% 117 117% 117% 

Ist mortgage. .• 114% 

Land Grant 7s 113 .... 113% Hi % 

Sinking Fund 88 123% 

United States Ex... 76% 76% 16% 



Wabash , St. L. & Pac 35 ' i 



36 '4 363^ 



68 -Si 68 Si 



36 
68% 



36% 36^8' 

Preferred 66/^ 67% 68?^ 

New mort. 7s 114% 

Wells-Fargo Ex 130% 128 

Western Pacifi.c b'ds 110 

Western Union Tel. 78 78% 78% 78% 77% 77% 
7s, S.F. conv., 1900 

Federal Stocks :— 

U. S. 48, 1907, reg 117,% 117% 

U. S. 4s, 1907, coup 117% 117% 117% 

U. S. 4 3^8, 1891, reg. 114 J^ 

U.S. 43^8,1891. coup 

U. S. 5s, 1881, reg 

U. S. 5s, cont'd at3% 102 % 102 3i 102 % 1 )2 J^ 

U. S. 68cont'dat33^ 103% 100% 100% 100% 100 , 

Dt. of Col. 3-65s, reg 107 

Dt. ofCol.3-658,coup 107 107 



Boston Stock Exchange. 

Prices for the Week Ending Jan. 11. 

Th.5. F.6. Sat.7. M.9. Tu.lO. W.ll. 
Atch.,Top.&San.Fe. 93% 93'^ 9i% 95% 95% 92>i 

Ist mortgage 120 119*4 119 

2d mortgage. 

Land Grant 78 116% 

Boston & Albany... 164 163% 163% 163 164 

7s reg 

Boston and Lowell 

Boston & Maine 144 145 145 145 '4 145 144% 

Boston& Providence 162 

Bos'n,Hart.& Erie7s 66% 66% 67 3^ 67% 67% 

Burl.& Mo.R.L.G.7s 115 >i 

Burl.&: Mo.R.in Neb 

6s, exempt 115 

48 



86 



Chi.,Burl. & Quincy 135'4 134% 135 135^4 136 136% 
7s 119 126 



Cin.,Sand&Clev($50) 28 

Concord ($50)...-. 

Connecticut River 



28% 



28 



27% 



Eastern 37 (^ 37 38 

New 432 Bonds... 105% 106 105% 1063i 106% 

iitchburg 

Kan.C, Top. & West • 

Central Michigan 



N.Y.& New England 64 63 62% 63 63 62% 
7s 118 117% 117% 117% 

Northern N. H 104% 105 

Norwich* Worcester 

Ogden & Lake Cham 

Preferred 



Old Colony 124)^ 124 124% 126 

Ph.,Wil.&Balt.($50) 

Portl'd,Saco & Ports 

Pueblo & Ark Val 

78 117 

Pullman Palace Car 130% 134 >4 134 134 

Union Pacific 116 116% 117 11734 117% 117% 

Gb.... 114% 

LandGrant78 110% 111 

Sinking Fund 8s 119% 120 

Vermont k Canada 

Vermont & Mass , 

Worcester & Nashua 57 57% 58 

Cambridge (Horse) 120 

Metropolitan(Hor8e) 

Middlesex (Horse) 

Cal.&HeclaMin'gCo 239 240 250 252%" 260 

Quincy 56 55 55 66 54% 55 



Philadelphia Stock Exchange. 

Closing Prices for the Week Ending Jan. 10. 

W.l. Th.5. F.6. Sat.7. M.9. Tu.lO. 

Allegh'y Val. 7 3-lOs 

78, Income 55 53% 

Camd'n & Am. 68, '83 103% 

68,1889 106 

Mort. 6s, 1889.... 114 114 114 113% 113% 

Camden & Atlantic ' 

Preferred 29% 

Ist mortgage 

2d mortgage 

Catawissa 

Preferred 53% 

78, new 

Del. k Bound Brook 

78 

Elmira&Williamsp't 

Preferred 



14% 14 
26 25 



14 



Hunt. & B. Top Mt 14 % 

Preferred 26 26 25% 

2d mortgage 

Lehigh Navigation . 43% 4334 43% 43% 43 ?4 43 

6s, 1884 105% 105 >i 106 105% 105% 

Gold Loan 112. 

Railroad Loan 117 

Conv. Gold Loan 112% 

Consol. Mort, 7s. 117 117 

Lehigh Valley 61% 61% 61% 62 62 '4 62 

Ist mort. 6s, coup 121 120 121 121 

Ist mort. 6s, reg.. 121% 

2d mort. 7s 133 . . .». 

Consol mort. 68 117 

Consol. mtg.68,reg ... . 118 

Little SchuylkiU 55% 

Minehill&Sch.Hav'n 60 

North Pennsylvania 60 60 60 60 60 

1st mortgage 6s.. 105 104% 

2d mortgage 7s 

Genl. mtg.7s,coup 120 

Genl. mtg. 78, reg 

Northern Central.. 49% 48% 48% 49 

5s 97% 97% 

Northern Pacific... 36 35% .36 36% 36% 35?4 

Preferred 75% 73% 74% 75% 75% IbU 

Pennsylvania R. R. 00% 60 34 60% 61 ^i 60% 61 

Ist mortgage .' 

t'Cn'l mort 117 

Gen'l mort reg 

Consol. mort. 6s 117 

Consol. mort. reg 

Pa.State 68 2d series 

do 3d series 

do 5s, new 115% 

do 3s 

Phila. & Reading... 3334 32% 32% 33% 32% 33% 



1st mortgage 68. 



78 of 1893. 

78, new convert 70 

Consol. mort. 7s 125 ... . 

Consol. mort. reg ■ 

Gen'l mort. 6s.... 9834 97% 97% 98 98 

Philadelphia & Erie 20 20 

1st mortgage 58.. 1053^ 105 105 

2d mortgage 78 

Pitt8b.,Cin.&St.L.7« 121 122 

Pitts., Titu8V.& Buff. 21 20% 20% 20% 20% 20% 
7s 102 102 102% 

Schuylkill Navi't'n 6 

Preferred 13 13 

68,1872 

68,1882 89 89 

United Co. of N.J. . 185 185 

Hestonyille, (Horse) 18% ,.«.. 

Che8tnut&Wal.(do) 

I'lruen Ac CoateB(do) 



-/ JHW Vi:MaiiVV^<KWU^'V?*HV»".'lV* (Uiijpjl. 



.PL:, .Ji|iUiii!l».VJ»i iJ-V 



AMERICAN RAILROAD JOURNAL. 



25 



Baltimore Stock Exchange. 

Closing Prices f»r the Week Ending Jan. 10. 

W. 4. Th.5. F.6. Sat.7. M.9. Tu. 10. 

Baltimore & Ohio 195 

6s, 1880 

6s, 1885 107 >i 106% 

Central Ohio ($50) 

l8t mortgage 108>^ 109 109>i 

Marietta & Cincin'ti 

Ist mortgage, 7s 125>i 125^^ 

2d mortgage, 78.. 104Ji 105J^ 105% 

3d mortgage, 88.. 59 '4 60)4 61 61 ?i 61^i 61 

Northern Cen. ($50) 50 49 

2dmort., 6s 1885.. 105 105 

3dmort.,68, 1900 

6s, 1900, gold 113 113i4 113>^ 

6s, 1904, gold lll>^ lll>i 

Orange & Alex. Ist 

2d mortgage, 68 

3d mortgage, 88 

4th mortgage, 8s 

0.,Alex.&Mana8'8 78 

Pitt8.&Connellsv.7s 121% 121% 

Virginia Gs, Consol. 69% 67 65 65 64 63 J4 

Consol. coupons. . 73 72'^ 74 73>i 73%' 68 

10-40 bonds 41 401^ 40 38 !i 33?^ 

Defd Certificates. 16% 17^4 

15 



17% 
15 



VVestern Maryland. . 

Ist M.,end.by Bait 

2dM., do 

3dM., do 

Ist M.,unendor8'd .• ... 

2dM.,end.WashCo 

2d M., preferred 106 

City Passenger R R 



17>i 
15 



15 



London Stock Exchange. 



Dec. 

Baltimore k Ohio (sterling) 114 

Cairo k Viencennes com. stock 42 
Do. preferred 5 per oent 91 

Central of N. J. $100 share; 93 

Do. Cons. Mortgage 116 

Do. Adjustment Bonds 104 

Do. Income Bonds 104 

Det.,G'd Haven & Mil. Equip bd8ll2 
Do.Cou.M.5p.c.,till'8;Jaft'r6p.cllO 

Illinois Central .*100 shares 137 - 

Lehigh Valley Cons, mortgage.. 115 

Louisville & Nashville mort 68.105 
Do. Sink. Fund bds (S.&N.Ala)104 
Do. capital stock .*100 shares. 108 

N. Y. Cent. & Hud. R. mt. bds. .136 

Do. SlOO shares 140 

Do mort. bonds (stg.) 123 

N.Y.,Lake Erie & West., $100 shs 46 
Do. 6 p. c. pref. $100 shares . . 94 
Do. 1st Con. Mort. bds (Erie) .130 
Do. do. Funded Coupon bds. 127 
Do. 2d Consol Mort. bonds. . .103 
Do. do. Funded Coupon bds. .100 
Do. Gold Income bonds 95 

N.Y.,Pa.& Ohio Ist mort. bonds. 50% 
Do. Prior Lien bds (sterling).. 105 

Pennsylvania, $50 shares 643^ 

Do. Con. Sink Fund Mort 120 

Philadelphia k Reading $50 shs 35 

General Consol Mortgage 116 

Do. Improvement Mortgage .. 104 
Do.Gen.Mtg.'74,ex-d«!rd coup. 100 
Do. Scrip for the 6 def. %coup. 95 

Pittsb., Ft. W. & Chi. Eq. bds... .105 

St. L. Bridge Ist mort. gold b'd.l26 
Do. Ist pref. stock 102 

Union Pa. Land Grant 1st. mtg.115 



Closing Prices , 


10. 


Dec. 


23. 


116 


114 


116 


45 


36 


40 


93 


90 


92 


98 


93 


98 


118 


115 


117 


109 


104 


109 


107 


104 


107 


114 


112 


114 


112 


no 


112 


138 
119 


132% 
115 


133% 
119 


107 


105 


107 


106 


103 


105 


110 


102 


104 


139 


134 


137 


141 

125 


136% 
123 


137% 
125 


46% 
96 


42% 
91 


43 ?i 
93 


132 


130 


132 


129 


127 


129 


104 


101 


103 


102 


97 


100 


100 


95 


100 


51% 
110 


45% 
105 


46% 
110 


65% 
122 


mi 

118 


63% 
122 


36 
118 


33% 
116 


34% 
118 


106 


103 


105 


102 


99 


lOf 


100 


95 


100 


109 


105 


109 


128 


126 


128 


104 


102 


104 


119 


115 


119 



AMERICAN BAILROAD JOURNAL. 



Financial and Commercial Review. 



Thursday Evening, Jan, 12, 1882. 

The quotation for call loans (luring the day 
was 4@5 per cent, and at [the close it was 4 
per cent. 

The actual rates for prime bankers' sterling 
were 4.81|@4.82 and 4.85|@4.85J, with cable 
transfers 4.86.^@,|, and prime commercial bills 
4.80(^1^. The actual rate's for continental 
bills are as follows : francs, 5.19|@5.20 and 
5.24|@5.25 ; marks, 94J@3-16 and 95@95J ; 
and guilders, 39|@40i^. 

The receipts of the United States Govern- 
ment for the six months ending December 31, 
1881, were : from custom.s, $108,358,919 ; from 
Internal Revenue, $76,230,128 ; from miscella- 
ueous, $20,566,976— total, $205,156,023. The, 



expenditures during the same time were : Or- 
dinary, $96,615,570; interest on debt, $38,305,- 
374— total, $134,920,944. For the six months 
ending December 31, 1880, the receipts were : 
from customs, $98,636,184 ; from Internal Rev- 
enue, $67,192,225 ; miscelleaneous, $13,755,175 
—total, $179,583,584. The expenditures dur- 
ing the same time were: Ordinary, $97,798,665; 
interest on debt, $41,820,175- total, $139,618,- 
840. It will be seen that the receipts of 1881 
show an increase over those of 1880, of $25,- 
572,439, and the exj^enditures a decrease of $4,- 
697,896; and that the surplus for the six months 
ending December 31, 1881, was $70,235,079, 
against $39,964,744 for the corresponding six 
months of 1880, an increase in favor of the 
period first named $30,270,385. The reduction 
on the interest account will be much larger 
during the coming six months, for the reason 
that there has been a large reduction in the 
principal of the public debt, and fcr the addi- 
tional reason that on all the continued five and 
six per cent bonds the rate of interest to be 
paid will be 3.} per cent. During the past six 
months on a portion of these bonds the higher 
rate of interest was paid. The large amount 
of surjjlus revenue shown by the figures given 
above will have considerable influence with 
Congress when the question of reducing taxa- 
tion comes to be considered. 

The Pennsylvania Sinking Fund Commis- 
missioners have accepted bids for $9,000,000 
of the new State loan, at 3, 3| and 4 per cent, 
of which Drexel & Co. of Philadelphia get 
about $6,000,000. By this transaction, when 
completed, the interest-bearing State debt will 
be reduced $1,482,000. 

At a meeting of the trustees of the East River 
Bridge, held on the 9th inst., the financial 
statement was presented showing that up to 
December 31, 1881, the total receipts were $13,- 
537,731.34, and total expenditures $13,377,155 
67. The cash on hand was $160,675.67, and the 
cash liabilities were $100,774.12. In Decem- 
ber the recespts were $201,796.54, and. the ex- 
penditures $53,926.82. 

New fetock to the amount of $70,000 has been 
issued by the Boston, Revere Beach and Lynn 
Railroad Company, and taken by the stock- 
holders and a dividend paid upon it, and the 
road has authority to issue $80,000 more stock 
if necessary. 

According to the Message of the Mayor the 
debt of the city of Brooklyn at the close of the 
year 1881 was $42,197,000, with a sinking-fund 
of $4,022,000. Of the total indebtedness, $9,- 
236,000 is for Prospect Park, $10,430,000 for 
the East River Bridge, $9,830,000 for the Water 
Works, $7,239,000 for temporary debt, $4,270,- 
000 is in tax certificates. The city is paying 
$1,500 a day interest on its bridge debt. 

At the annual meeting of the North Pennsyl- 
vania Railroad Company on the 9th inst., it was 
stated that the receipts for the yea rwere $778,- 
375.15— being dividends and interest on bonds 
paid by the Philadelphia and Reading Railroad 
Company. . - v 

The following gentlemen have been elected 
directors of the Mechanics' Banking Associa- 
tion: Trenor W. Park, Thomas W. Evans, 
Charles J. Osborn, William L. Scott, Frank 
Work, Cornelius F. Timpson. Joseph G. Mills, 



John G. McCullough and W. J. Hutchinson. 
It is intended to increase the stock to $1,000,- 
000 and to occupy spacious rooms in the new 
Mills Building. It is also designed to make 
the bank the nucleus of a stock-cleariug house. 

The closing quotations on Thursday were : 
Albany and Susquetanna, 128@,131 ; Adams 
Express, 147@149; American Express, 92@,93i; 
Chicago, Burlington and Quincy, 136J@136J; 
Canada Southern, 535@55; Chicago and North- 
western, 126@126} ; do. pret, 138^@139; Chi- 
cago and Alton, 132^@133^; Central of New Jer- 
sey, 91|@92 ; Central Pacific, 93g@933 ; Chi- 
cago, Milwaukee and St. Paul, 108|^109} ; do. 
pref., 121^@121; Cleveland, Columbus, Cincin- 
nati and Indianapolis, 81i@82i; Columbus, Chi- 
cago and Indiana Central, 21J@21^; Delaware 
and Hudson Canal, — @ — ; Delaware, Lack- 
awanna and Western, 124@,124j^ ; Hannibal 
and St. Joseph, 96@.96i ; do. pref., 109J@109i; 
niinois Central, 132@132^ ; Lake Erie and 
Western, 35@35^ ; Lake Shore and Michigan 
Southern, 114i@114|^ ; Metropolitan Elevated, 
87i<S>.89 ; Manhattan Elevated, 48|@49 ; Mich- 
igan Central, 88@88 ; New York Elevated. 
105@106^;New York, Lake Erie and Western, 
41^@,41| ; New York Central and Hudson 
River, 133|^133|; Northern Pacific, 35|@36; 
do. pref., 74|@74^; Ohio and Mississippi, 37i@ 
@37^ ; Panama, 195@198 ; Pacific Mail. 41^ 
41|; Texas and Pacific, 47f@.47| ; Union Pacific, 
\\l\@m\ ; United States Express, 76A@77i; 
Western Union Telegraph, 78^@78| ; Wabash, 
St. Louis and Pacific, 36J@36| ; do. pref., 68f 
@68|; Wells-Fargo Express, 128@130. 

The following quotations of sales of Railway 
and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 

Ntuo York. — Atlantic and Pacific 1st, 96i ; 
Atchison, Colorado and Pacific 1st, 98 ; Boston 
and New York Air Lin« pref., 63; Chicago and 
Milwaukee 1st, 118 ; Cedar Falls and Minne- 
sota, 20 ; Chicago. St. Louis and New Orleans, 
80 ; do. 1st consol., 115; Chesapeake and Ohio 
1st pref., 36; do. 2d pref., 26 ; do. 1st mort., 
Series A, 101; do. B, 82 ; do. cur. int., 5U ; 
Chicago, St. Paul, Minneapolis and Omaha, 
35| ; do. pref., 99| ; do. consol., 98| , Central 
Iowa, 34 ; do. 1st, 115^ ; Chicago, Burlington 
and Quincy 8s, l03; Chicago, Milwaukee and 
St. Paul, Chicago and Pacific Western div., 
94^ ; do. S. M. div. 1st, 103^ ; do. S. W. div. 
1st, 103^; Colu6ibus, Chicago and Indiana Cen- 
tral 1st, Trust Co. certif. ass. sup., 118; do. 
Income, 75 ; Chicago and Northwestern S. F. 
5s, 101 J ; Chicago, St. Paul and Minneapolis 
1st, 108|; Denver and Rio Grande, 68| ; do. 
1st consol., 103 ; Des Moines and Ft. Dodge 
inc.,75| ; Denver, South Park and Pacific 1st, 
103J ; East Tennessee, Virginia and Georgia, 
14| ; do. pref., 24 i[; do, inc., 55^ ; do. 5s, 99; 
do. 1st, \\^\ ; Galveston, Harrisburg and San 
Antonio 1st, 103 ; Green Bay, Winona and St. 
Peter, 13^ ; Gulf, Colorado and Santa Fe 1st, 
106 ; Hudson River 2d S. F., 108^ ; Houston 
and Texas Central 1st, Western div. 107^; 
International and Gt. Northern 1st, 107J ; do. 
coup. 6s, 90; Indianapolis, Decatur and Spring- 
field 1st, 105; Indiana, Bloomingtou and West- 
ern, 47; do. 2d, 80; Jackson, Lansing and Sagi- 
naw 6s, llOJ; Kansas Pacific 1st consol., 103^ ; 
do. 6s, Denver div. ass., 108|; Keokuk and Des 



'ili 'fll«n<r^''l 



26 



AMERICAN RAILROAD JOURNAL. 



Moines 1st, 106; Lehigh and Wilkesbarre con- 
sol, ass., 107| ; Louisville, New Albany and 
Chicago, 74; do. 1st, 100^ ; Long Island, 51| ; 
Lake Erie and Western, 34J ; do. l^t, 107J ; 
do. Inc., 54 ; Louisville and Nashville consol. 
6s, 1898, 121 1; do. gen'l mort. Gs, 101 J ; Lafay- 
ette, Bloomington and Muncie 1st, 103; Lake 
Shore dividend bonds, 122 ; Manhattan Beach, 
27| ; Minneapolis and St. Louis, 21; do. pref., 
61; Mobile and Ohio, 34 ; do. 1st deben., 96^ ; 
do. 2d deben., 68 ; do. new mort., 110 ; Mis- 
souri, Kansas and Texas, 37 ; do. consol. 7s, 
106i; do. gen'l mort. 6s, 81.]; do. 2d, 70^; Mis- 
souri Pacific, 100^ ; do. 3d, llOJ ; do. 1st con- 
sol. ; 103 ; Memphis and Charleston, 74 ; Mil- 
waukee, Lake Shore and Western, 48; do. 1st, 
100; Michigan Central 5s, 98 ; Metropolitan El- 
evated 2d, 90; New York, Ontario and Western, 
27^; Norfolk and Western, 20; do. pref., 58| ; 
do. Gen'l mort., 103 ; Nashville, Chattanooga 
and St. Louis, 85; do. 1st, 115^ ; New Jersey 
R. R. Transp, Jo., 183 ; New Orleans Pacific 
1st. 9U ; Northern Pacific 1st, 99^; Ohio Cen- 
tral, 23"^ ; do. inc., 45 '; do. 1st, 96i ; do. 1st 
Terminal Trust, 95.]; Oregon Railway and Nav., 
133 ; do. 1st, 106; Ohio Southern inc., 44 ; do. 
1st, 9U; Ohio and Mississippi Springfield div. 
1st, 121]; Peoria, Decatur and Evansville, 35] ; 
do. .1st, 103]; Quincy and Toledo 1st, 102 ; 
Rochester and Pittsburg, 25] ; do. 1st, 100| ; 
Richmond and Allegany, 36] ; do. 1st, 101 ; 
Richmond and Danville, 181 ; do. 6s, 102| ; 
Rome, Watertown and Ogdensburg, 20 ; Rens- 
selaer and Saratoga 1st, 136 ; South Pacific of 
Missouri 1st, 104 ; St. Louis, Alton and Terre 
Haute div. bonds, 50; St. Louis and Iron Moun- 
tain, Arkansas Branch 1st, 110; do. 5s, 85 ; St. 
Paul Minneapolis and Manitoba, 113] ; do. 1st, 
109; do, 2d, 105] ; St. Paul and Duluth pref., 
70 ; St. Louis, Kansas City and Northern, 
Omaha div. 1st, 113 J ; do. R. E. 7s, 105; Scioto 
Valley 1st, 98; St. Paul and Sioux City 1st, 110; 
Southern Pacific of California 1st, 103 1 ; St. 
Louis, Jacksonville and Chicago 1st, 116]; Texas 
Central 1st, 107 ; Toledo Delphos and Burling- 
ton, 16]; do. 1st M. L., 84; do. Terminal Trust, 
95 ; Texas and Pacific, 47| ; do. inc. L. G., 74; 
do. Rio Grande div. 6s, 90 ; Toledo, Peoria and 
Western 1st, 111 ; Utah Gen'l mort. 7s, 106; 
Union Pacific Collateral Trust 6s, 107 ; Wabash, 
St. Louis and Pacific, Iowa div. 1st, 90J ; do. 
Gen'l mort. 6s, 88.] ; do. Chicago div., 85 ; do. 
Havana div. 1st, 95; Winona and St. Peter 1st, 

107. 

Philadelphia.— AmeTicnn Steamship Co. 6s, 
107 ; Catawissa new pref., 53 ; Central Trans- 
portation, 35 ; Chesapeake and Delaware Canal 
6s, 89; Erie and Western Transp. Co., 55; Mor- 
ris Canal pref., 169 ; New Orleans Pacific 6s, 
92 ; Nesquehcning Valley, 57i ; Philadelphia, 
Germantown and Norristown, 105 ; Philadel- 
phia, Wilmington and Baltimore 4s, 94] ; Penn- 
sylvania Company 4]s, 95 J ; Philadelphia and 
Reading scrip, 81 ; do. Inc. 7s, 98}; Pennsylva- 
nia Canal 6s, 99| ; Pittsburg 7s, Water Loan, 
127 ; Schuylkill Nav. Boat'Loan 7s, 60 ; Texas 
and Pacific consol. mort. 6s, 100; do. Rio Grande 
div. 6s, 90; Union and Titusville 7s, 103. The 
latest quotations are : City 6s, — @118; do. free 
of tax, 126@132; do. 4s, new, 102@109 ; Penn- 
sylvania State 6s, 3d series, 100@101 ; do. 5s, 
new loan, 115@— ; do. 4s, new, 107@111; Phil- 



adelphia and Reading R. R., 33@33J ; do. con- 
sol. mort. 7s, reg., 124]@125J ; do. mort. 6s, 
117@, — ; do. gen'l mort. 6s, coupon, 97^@,d8\; 
do. 7s, 1893, 118@125 ; do. new, conv., 73@77; 
United New Jersey R. R. and Canal, 184|@ 
185; Buffalo, Pittsburg and Western, 20§@20J-; 
Pittsburg, Titusville and Buffalo 7s, 102|@102|; 
Camden and Amboy mort. 65, 1889, .113^@114; 
Pennsylvania R. R., 60|@61; do. general mort. 
reg., 123(a)y — ; do. consol, mort. 6s, reg., 119 
@124 ; Little SchuylkiU R. R. 55}@55] ; Mor- 
ris Canal, 65@75; do. pref., 165@169]; Schuyl- 
kill Navigation, 5i|@6} ; do. pref., 12]@13] ; 
do. 6s, 1882, 88]@89]; do. 1872, 107@i08; El- 
mira and WiUiamsport pref., 58@60 ; do. 6s, 
110@ — ;95@ do. 5s, — ; Lehigh Coal and Nav- 
gation, 43J@43] ; do. 6s, 1884, 105^@106} ; 
do. R. R. loan, 116J@117} ; do. Gold Lo.m, 
llia@112} ; do. consol. 7s, 114}(^117}; North- 
ern Pacific, 35|@36]; do. pref., 75]@75|; North 
Pennsylvania, 59i@60J ; do. 6.s, 104;|@105} ; 
do. 7s, 123]@ — ; do. General mort. 7s, reg., 
119@124 ; Philadelphia and Erie, 19^@20J ;do. 
7s, 117@120 ; do. 5s, 105@105] ; Minehill, 60 
@60] ; Catawissa, 14@16 ; do. pref., 52^@53i ; 
do. new pref., 52^@53}; do. 7s, 1900, 120@— ; 
Lehigh Valley 62@62J^ ; do. 6s, coupon, 1203@ 
121J: ; do. reg., 121]@122] ; do. 2d mort. 7s, 
133@— : do. consol. mort. 117f@118} ; Fifth 
and Sixth streets fhorse), 149@150 ; Second 
and Third, lU^fai^nS \; Thirteenth and Fif- 
teenth, 79.^@80J ; Spruce and Pine, 47J@481^ ; 
Green and Coates, 90@100; Chestniat and Wal- 
nut, 94@95 ; Germantown, — @70; Union, 110 
@125 ; West Philadelphia, 111@112 ; People's 
15@15] ; Continental, 100(?^105. 

Baltimore. — Atlantic Coal, 1.10 ; Atlanta and 
Charlotte 1st, 109J ; Baltimore and Ohio 2d 
pref.. 120 ; Baltimore City 6s, 1890, 114| ; do. 
6s, 1886, 106] ; do. 6s, 1900, 128; do. 5s, 1916, 
121} ; do. 5s, 1885, lOU ; do. 5s, 1894, 116; do. 
4s, 1920, 112 ; Columbia and Greenville 1st, 
102i; Cainton 6s, gold, 107i; North Carolina 4s, 
83; Ohio and Mississippi, Springfield div. 1st, 
121}; Richmond and Allegany, 37]; Richmond 
and Danville 6s, gold, 102] ; do. 6s, 1890, 106]; 
do. 6s, 1885, 103 ; Virginia Midland 1st pref., 
115 ; do. 2d pref., 115 ; do. 1st mort., 116]; do. 
2d mort., 109}; do. 4th mort., 55; do. 5th mort., 
98; Virginia Peelers, 38| ; do. Peeler coupons, 
32 ; Virginia Black scrip, 25; Wilmington, Co- 
lumbia and Augusta, 109. The latest quotations 
are : Atlanta and Charlotte, 101@ — ; do. 1st. 
109]@109a ; Baltimore and Ohio, 195@200 ; 
do. 6s, 1885, 106]@107; Baltimore City 6s, 1890, 
114@114}; do. 5s, 1885, 101@1()5 ; do. 5s, 1894, 
-@116] ; do. 5s, 1916, 121@— ; do. 4s, 1920, 
—@112; Columbia and Greenville 1st, 102]@ 
103]; Central Ohio 1st, 110@111; Marietta and 
Cincinnati 1st, 125]@125f ; do. 2d, 105@106 ; 
do. 3d, 61@61| ; Northern Central, 48]@— ; 
do. 6s, 1885, 106]@— ; do. 6s, gold, 1900, 113 
@— ; do. 5s, 1926, — @97f ; Norfolk and West- 
ern pref., 57@ — ; Ohio and Mississippi, Spring- 
field div. 1st, 121J@121] ; Pittsburg and Con- 
nellsville 7s, 121 @ 121^ ; Richmond and Dan- 
ville, 180@195 ; Virginia Midland 5th, 97@99; 
Virginia consols., 63}@63|; do. 10-40s,38]@39. 

Boston. — Atlantic and Pacific 6s, 95| ; do. In- 
come 6s, 32] ; Atchison, Topeka and Santa Fe 
plain, 5s, 94 J ; Boston Land, 8^; Boston Water 
Power, 6J ; Burlington and Missouri River in 



Nebraska 6s, non-exempt, 103 J; Boston, Re- 
vere Beach and Lynn, 122 ; Connotton Valley, 
19; do. 7s, 85; do. 7s, Straitsville div., 75 ; Cen- 
tral of Iowa, 33 ; Connecticut and Passumpsic 
Rivers R. R. 7s, 115|; Chicago, Burlington and 
Quincy 4s, old, 88} ; do. 4s, Denver ext., 87 J ; 
Cincinnati, Sandusky and Cleveland 7s, 101} ; 
Chicago and West Michigan, 82] ; do. 5s, 95J ; 
Detroit, Lansing and Northern pref., 116 ; do. 
7s, 118 , Flint and Pere Marquette, 22; do. pref., 
93 ; Fort Scott Branch 78, 110 ; Iowa Falls and 
Sioux City, 84 ; Kansas City, Lawrence and 
Southern 5s, 104 ; Kansas City, Fort Scott and 
Gulf, 81; do. 7s, 112 ; Kansas City, St. Joseph 
and Council Bluffs 7s, 116; Louisiana and Mis- 
souri River, 14; do. pref., 35 ; Little Rock and 
Fort Smith, 62]; do. 7s, 111 ; Marquette, Hough- 
ton and Ontonagon, 62; do. pref., 116 ; Massa- 
chusetts Central 6s, 93; Mexican Central 7s, 87; 
do. blocks, new, 93; New York and New Eng- 
land 6s, 107; New Mexico and Southern Paci- 
fic 6s, 115] ; Northern Pacific 6s, 99| ; Ports- 
mouth, Great Falls and Conway 4]s, 86; Quincy 
Railroad Bridge, 162; Rutland, 5; do. pref., 26; 
do. 6s, 101; Republican Valley 6s, 103; Sumner 
and Ft. Smith 7s, 115 ; Summit Branch, 14 ; 
Sonora 7s, 86 ; Toledo, Delpho.'* and Burling- 
ton, 8 J ; Vermont and Massachusetts 6s, 101 ; 
Wisconsin Central, 20| ; Wisconsin Valley 7s, 
114 ; Allouez Mining Co., 3 J ; Atlantic, 18 ; 
Brunswick Antimony, 14 ; Blue Hill, | ; Cop- 
per Harbor, 3}; Franklin, 14]; Huron, 3|; Har- 
shaw, 4} ; Napa consol. Quicksilver, 7} ; Na- 
tional, 3| ; Osceola, 35 1; Phoenix, 3 ; Pewabic, 
17 ; Ridge, 4}; Sullivan, 2]; Star, 1; Silver Is- 
let, 20. 

- - ■ - —»■——■—— 

SITUATION WANTED AS CIVIL ENGINEER ON A 
Railroad; can do machinists work, erect bridges. 
Well conversed in Spanish language. Educated at 
Rens. Poly. Inst., Troy, N. Y. Address 

CIVIL ENGINEER, P. O. Box 1594, N. Y. 



SH[IGG BROTHERS, 

DESIGNERS AND ENGRAVERS ^ 

ON 

AND 

PHOTO ENGRAVERS, 

No. 18 Cortlandt Street, 

NEW YORK. 

THE LAKE SHORE AND MICHIGAN SOUTH- 
ERN RAILWAY COMPANY, 

Treasurer's Oppice, Grand Central Depot, 
New York, December 23d, 1881. 

The Board of Directors of this companv have this 
day declared a QUARTERLY DIVIDEND of TWO 
per cent upon its capital stock, payable on WEDNES- 
DAY, the first day of February next at this oflBce. 

The transfer books will be closed at 3 o'clock P. 
M. on Saturday, the 31st instant, and will be re- 
opened on the morning of Saturday, the fourth day of 
February next. 

E. D. WORCESTER, Treasurer. 

Office Central Pacific Railroad Co , 
San Francisco, Jan. 7, 1882. 

THREE DOLLARS PEK SHARE WILL BE 
paid on presentation of Dividend Warrant No. 
13, on or after Febuary 1st, at this office, or at the 
office of the Company, No. 9 Nass.iu street, New 
York Transfer bonks will be closed froT. 2 P. M., 
January 14th, to 10 A M., February 2d, by order of, 
the Board of Directors. 

E. H. MILLER, Jr., Secretary. 

COTTON-SEED H1JLES 

For Packing Journal Boxes of Cars. 

Natiokal Railway Patent Waste Co. 

240 Broadway, New York. 



p'JillW!>i»M''!i;'4LEWM'W.W4iuyi!p»j,«"«f.iii-itt. 



AMERICAN RAILROAD JOURNAL. 



ST 



FOR SAT.E. 

Ten new Locomotives, Standard Gauge, Jiine 
and July delivery. 

New 3ft. Gauge Locomotives, summer delivery. 

One Second-hand Tank Locomotive 3ft. Gauge, 
rebuilt good as new, January delivery. 

Second-hand Standard Gauge Locomotive and 
Passenger Cars. 

Thirty new Box Cars Standard Gauge, immedi- 
ate delivery. 

New Flat and Coal Cai^p, January delivery. 

New Passenger and Combination Coaches 3ft. 
Gauge, early delivery. 

New Car Wheels and Castings. 

Iron and Steel Rails. 

Narrow-Gauge Rolling stock a specialty. 

BARROWS & CO. 

e4 Br»oa<ci-wa.y, 

NEW YORK. 

Interest allowed on Deposits subject 
to Draft. Securities, &c., bought emd 
sold on Commission. 

Investment Securities always on hand. 

Brown. Brothers & Co., 

No. 59 Wall Street, New Tori, 

— BITT AND SELL — 

BTT-jT-iS <DT^ lESflCH-^l^O-E 

— ON — 

GREAT BRITAIN, IRELAND, FRANCE, GERMANY, 

BELGIUM, AND HOLLAND. 



Issue Commercial and Travelers' Credits in Sterling, 

AVAILABLE IN ANY PART OF THE WORLD, AND IN 
FRANCS IN MARTINIQUE AND GUADALOUPE. 

Make Teleghaphic Transfers op Money between this 
and other countries, through London and Paris. 



Make Collections of Drafts drawn abroad on all points 
in the United States and Canada, and of drafts drawn in 
the United States on Foreign Countries. 

Scioto R. R. 1st 7*8, 1905. 
Scioto R. R. 2nd 7's, 1879. 
Scioto R. R. Con. 7's, 1910. 
Scioto R. R. Stock. 
Columbus & Toledo 1st 7's, 1910. 
ToL, Ci»n. & St. L. Stock and Bonds. 

D. A. EASTOIV, 

Wo. 5§ Broffdway. IV. Y- 



A. WHITi\EY & SOIVS. 

CAR WHEEL WORKS, 

<:allowhill and 16tli Streets, 

PHILADELPHIA, PA. 

We furnish CHILLED WHEELS for Cars, Trucks, and 
Tenders. CHILLED DRIVING-WHEELS and TIRES for 
Locomotives. ROLLED and HAMMERED AXLES. 

WHEELS AND AXLES FITTED COMPLETE. 




??? 



^^^fff^^^H^M^ 



.. . .,^.^,-^P^f; . _ _ _ 

'NGINEERo,Mechanics,MillOwner8,Builders,iianu- 
<facturer8,Miners,Merchants, Ac, will find in Moo re's 
Universal A ssistant and Complete Mfxhanic, a work 
containinK 1016 pa ''es, 500 Engravings, 461 Tables, and over 
1.000, OtOIndustrialFacts.Calculations, Proc-pFses, Secrets, 
Rules, Ac, of rare utility in 2 Trades. A $5 bookfree by 
niailforf 2.50, worth itsweightin gild to any Mechanic, 
FarmerorBusinessMan. Agentu Wanted. Sure sale every- 
where for all time. For 111. Contents Pamphlet, terms, 
and Catalogue of SOO PrActicai Books, addressNATiONAL 
Book Co., 73 Beekman St., New York. 




f» .^. S £1 :E3 I^ G- :E3 

Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonable 

Prices by the 

HARLAN & HOLL.1NGS WORTH CO., Wilmington, Del. 



Sandusky Rail Mill Co. 
Wew Albany Rail Mill Co. 

STEEL RAILS, 

IRON RAILS, 

BLOOMS. 



^c. H.or 

% 104 Jo 



ODELL, AOT. 

bn St., N. T. 



FOR SAL. 11* I OTS TO MJIT. 

Prompt DeliTcry- 

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS, 
AND FOR RE-ROLLING OLD RAILS. 

OLD RAILS AND SCRAP AND CAR WHEELS BOUGHT AND SOLD. 



SWIFT'S IRON AND STEEL WORKS, 

26 W. THIRD ST., CINCINNATI, OHIO. 

Manufacturers of all Weights of Standard and Narrow Gauge Ralls by the most approved process. Also Rail Fastenings 

Steel and Bloom Boiler Plate, and Tank, Sheet and Bar Iron. 






BETHLEHEM fRON CO., 
IRON AND STEEL RAIL8. 

GEO. A. £VANS. 

No. 74 Wall Street, - .- - New York. 



Bailioad 




Track Scales. 




STANDARD 

cAi-i; 

AND ^ 

TESTING 

MACHINES 




PHILADELPHIA, 

50 Soulh 4ih St. 

NEIV YORK, 
115 Liberty Street. 

PITTSBURGH, 
Liberty St. cor. 7th Air. 

.*T. LOUIS, 
609 North 3cl Street 

NKW ORLRAN«, 
I4:d GraTler Street. 



\. 



^^>^a«i^.ae:..s,>^.^>.^<4L<i.:'.k 



"^■^■^ 7?~TS? 



*ay.t 



?r-r:r' 



28 



AMERICAN RAILROAD JOURNAL 



FAIRBANKS' *''""'*"s?albs. 

aoo ^vd:oE)jno-^TioiiTS. 

ADAPTED TO ALL CLASSES 
OP BUSINESS. 




Railroad and Warehouse Trucb, 

AKD COPYING-PRESSES 

I Oldest and Largest 

• Scale Works in the World. 

BUY ONLY THE GENUINE, 



Dorm Warehouse Scales. 



^-AJCEiB-A-ISri^S 6c CO., 
3tt Broadway, Kev York. 



JOHN STEPHENSON CO, 

[Limited.] 




■ mmmmsm 



XJ I i^ i> 

NEW YORK. 



Superior Elegnnce, Lightness and Du- 
rability. The result of 50 years' experi- 
ence. . 

Adapted to all countries and climates. 
Combining all valuable improvements. 
Shipped to Foreign Parts with greatest 
care, and at most favorable rates. 

THE ROGERS 

LOCOMOTIVE AND MACHINE f OMS, 

Faterson, 3>T. J. 

Having extensive facilities, we are now prepared to 
furnish promptly, of the best and most approved de- 
scription, either 

COAL. OR 'IVOOD BVKNINU 

XjOOOI^OTI-V-E BN'OinSTES, 

AND OTHEB VARrETTES OF 

KAILROAD inACIII\EKV. 



Est£iTolislxe«a. iora. 1S31- 



J. «. ROGEtlS, Prts't 
H. S. HUGHES, Sec 
\\M. S. HVD!»ON 



rts't. ] 
iec'y. I 
, SupH. ) 



Patersoii, N. J. 



AMERICAN RAILROAD JOURNAL. 

i 

PUBLISHED WEEKLY BY THE 

American Railroad Jonrnal Company, 

iTo- 23 Iji"bert37- Street, 
I ITEW YORK. 

The AMERICAN RAILROAD JOURNAL, the 
oldest railroad paper in the world, was established 
during the construction of the first 100 miles of rail- 
road in this country. Its files of the past fifty years 
furnish a complete record of the development of 
American railroads and faithful chronicles of the 
kindred financial interests. It contains features of 
special value to investors and others desirous of being 
readily acquainted with values and transactions con- 
nected with the development and working of our 
railroad .systems, and much of interest to the general 
reader. It is taken by leading railroad men, inves- 
tors and banking houses in this country and Europe, 
where it lias long been a recognized authority in its 
special field, being recommended as such by "Cham- 
bers' Encyclopaedia" and other standard foreign and 
domestic publications. We give below a few extracts 
.rom opinions of the press : 

From " Herapath's Railway Journal," London. 

Tile American Railroap Journal, one of the 
most honest and outspoken of American papers. 

From the " Journal of Commerce," New York. 
The American Railroad Journal, a most valu- 
able weekly newspaper. Is now half a century old. 



Tt. S. KCTJO-I^ES, Treas-orer. 

44 Exchange Plac<^, New York 



PATENTS 

We continue to act as Solicitors for Patents, Caveats. 
Trade Marks, Copyrights, etc., for the United States, 
Canada, Cuba, England, France, Germany, etc. We 
have bad tbirtyflve years' experience. 

Patents obtained through us are noticed In the SCI- 
ENTIFIC AMERICAN. This large and splendid Illus- 
trated weekly paper, $3.20 a year,shows the Progress 
of Science, is very interesting, and has an enormous 
circulation. Address MUNN & CO., Patent Solici- 
tors, Pub's, of Scientific American, 37 Park Bow, 
"iwYoik. Hand book about Patents free. 



From th« " Cincinnati Price Current." 

The American Railroad Journal's list of pat- 
rons h compo.sed largely of the olde«)t and heaviest 
financial houses in the United States, Great Britain 
an 1 the Continent, and of railway companies, manu- 
facturing establishments and banking and commer- 
cial houses in this country. 



' From the "Pittsburg (Pa.) Chronicle " 

The American Railroad Journal is authority 
on railroad news. 



AMERICAN 

REFRIGERATOR 
LINE, 

New York, Oct., 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 
sential Oils, Mineral Waters, 
Lager Beer, Ales and Porters, 
Oysters, or, in fact, any class of 
goods that needs protection 
from heat or cold while in tran- 
sit to the West and Southwest, 
either in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 



BEFIIIGEMTOR TRANSIT COMI 



Guaranteed Bills of Ladings 

g^lTen. I 

I- 

Time as quick and rates »s 
low as by any first class fast 
freight line. j 

JC^Ship from New York via 
N. Y. C. and H. K. .KB., St. 
John^s Park ; from Boston yia 
Boston and Albany B. R. 



■. r 



For rates and information apply to 

FftED'K I. EVANS, 

General Eastern Agent. 



I- - 



Fro a the " Washington (D. 0.) Law Reporter." 
The American Railroad Journal is a most val- 
uable pulilication, and to all persons interested in 
American .railroads, earnings, dividends, etc., etc., it 
is almost invaluable. 



92 Wall Street, - New York. 

271 Broad-way, Ne^w York, 

232 Washington Street, Boston. 



^^unikk.ti 



m Irn'MJiVr-^^ «i'*.t>k\-:Jvl-,^-A .'^ 



' ^^*i>**'^'iJili!9^M,IL<IU-U.PI 



.rji.yi,^ii»»^ni™pi.liiii! iiKij«. ,i Liimj^gm^^fmi^fmsli'P. 



AMERICAN RAILROAD JOURNAL. 




29 



\ 



VALENTINE'S VARNISHES 

ARE ON SALE IN TflE FOLLOWING COUNTRIES: 



ENGLAND. 



FRANCE, 



GERMANY. 



AUSTRIA. 



SPAIN. 



SWITZERLAND. 
ITALY. 



HOLLAND. 



SCOTLAND. 



RUSSIA. 



*■!■ 



INDIA. 



AUSTRALIA. 



SOUTH AMERICA 



NEW ZfiALAND. 



MEXICO. 



CUBA. 



m 



VALENTINE & COMPANY, 

COACH AND CAR VARNISHES, 



BAMES VACUUM SHAKE CO. 



3 



p. O. Box 2,S7li. 



RAILWAY TRAIX BRAKES, 

»AL.EIS oFriCli:. 15 OOLU vr , N, v. Keprrsented by THOS. PUOS»£K & SOM 



The EAMSS VACTJITlfl: BRAKE is confidently oflfered as the most efficient, simple, durable and cheapest Power Brake in the 
market. It oan be seen in operation uponiover seventy roads. 



;*:^ • j^. /«.;._:.• -■^.•-. 



30 



'-■■■ 'i 



AMERICAN RAILROAD JOURNAL. 



m - 



Baker & Godwin's 

PRINTING HOUSE. 



ESTABLISHED 1850. 



MODERN RAILWAY PRINTING, 

peelnl utteitilonKlvea to thisclaasor work. 

This establishment is very extensive, adapted to every 
variety and style of Printing, and the proprietors hope 
to be favored with a share of Railway patronage. Esti- 
mates furnished on application. 

BAKER & GODWIN, Printers, 

No. 25 Park Row, j 

Directly opp. Post Office. NE"W YORK. 

Printing of all kinds at greatly reduced rates. 



THE RAILWAY TIMES i 

AND JOINT-STOCK CHRONICLE. 



The Railway Times was established in the year 1837, ana 
as consistently maintained the purpose for which it was 
tarted — to give an independen 1 account of all matters of 
importance to railway shareholders, not neglecting, at 
the same time, the duty of keeping its readers well in- 
formed on air matters of commercial interest. 

It is published every Saturday. Price 5d. The price of 
subscription for one year is £1 1*. 

No. 2 Exeter Street Strand W. C. London. 



NO OTHER LINE IS SUPERIOR TO THE 

FITCHBURG RAILROAD 

HOOSAC TUNNEL ROUTE 

"WEST. 



8.30 A 



DAY 



EXPRESS. 



fhrough drawing-room car to Rochester, N. Y., connecting with through sleeping car 
?nr Cincinnati, Cleveland, Toledo, DETROIT AND CHICAGO, 




CINCINNATI 



-'i 



EXPRESS. 




KNOX & SHAIN, 

Manufacturers of Engineering and Telegraphic Instru- 
ments. No. 716 Chestnut Street, Philadelphia. Two 
Medals awarded by the Franklin Institute, and one by 
the Centennial. ' 



OUSATONIC RAILROAD 



THE ONLY LINE RUNNING 

T XI I^ O TJ <3- XI O-A-IR-S 

Between New York, Great Harrington, Stockbridge. Len- 
ox, and Pittsfleld— the far-famed resort of the 

Berkshire Hills 

Western Massachusetts— the "Switzerland of America." 

Two through trains daily between New York City and 
all points on the Housatonic Railroad, from the Grand 
Central Depot via the New York, New Haven, and Hart- 
ord Railroad at 8:05 A. M. and 3:43 P. M. 

Descriptive Guide Book sent free upon application to 
the General Ticket Agent. 

li. B. STIIiliSON. Supt. 
H. D. AVERIIili, Gen. Ticket Agt. 
thn'l Offices, Bridgeport. Ct.. Nov. 7. 1881. 



Pullman Sleeping Car attached, rurming through to Cincinnati without change. (Onh 
Line running Pullman Cars irom Boston.) This car runs via Erie Kailway, making direc 
3onnection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an( 
New Mexico. 




Boston, Hoosac Tunnel, and Western 



^ PULLMAN LINE between BOSTON and the WEST. 

' "VTA THE 

All the Modern Appliahces- 

miller's patent platforms and buffers, 
westtnghouse improved air-brakes, 
coaches heated by steam. 

steel rails. iron b^pges. 

ask for tickets via the 

UaOSAC TUNMEL AID TNE N. L luE ErIE, AND WeSTEIN Rt. 



P. ST. LOUIS 

M. EXPRESS. 

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from 

BOSTON TO ST. LOUIS WITHOUT CHANGE! 

ARBIVING AT 8.00 A.M. SECOND MQRNING. 

•Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville 
Tolono, Decatur and St. Louis, maliing direct connection with through Express Trains fo: 
Kansas, Colorado, Texas, and all points in the 

SOUTHWEST. 



p. PACIFIC 




EXPRESS. 

The only line running a through sleeping car via Buffalo and Detroit without change, 
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex- 
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast. Wisconsin, Minnesota 
and all points in the 

WEST AND NORTHWEST. 

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED. 

Tim Great Short Line passes through the most celebrated scenery in the country, including the famous 
, HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel 

in America, and the third longest iu the world. 

ricketti, Orawlns-Rooiii and Sleciiing-Car AccoiiiiiiudatioiiM may be secured in Advance 
I ' by Applying to or Addre»i«ingr 

250 WASHINGTON STREET, BOSTON. 250 

I JOHN ADAMS, General Superintendent. "i 

F. O. HEALD, Acting Gen'l Passenger and Ticket Agent. 



AMERICAN RAILROAD JOURNAL. 



31 



First-Class English 

Iron AND Steel Rails 

AT LONDON PEICES, F. 0. B. 



We also purchase all classes of Railroad Securities, 
and negotiate loans for Railroad Companies. 

Wn A. GUEST & CO., 

Nos. 41 and 43 Pine Street, New York. 



Safety Railroad Switches, 

WITH MAIN TRACK UNBROKEN. 

Railroad Crossings, Frogs, and Other 
Railroad Supplies. 

MANUFACTURED BY THE 

WHARTON RAILROAD SWITCH CO., 

PHILADELPHIA. 

Works: ttSd and Wasliinerton Ave. 

Office: tl§ South 3d Street. 



STEEL 

CAR 

PUSHER 



MADE ENTIRELY OF STEEL 

ONE MAN with it can easily 
move a loaded oar. 

Manufactured by E. P. DWIGHT, 

Dealer in R.vilroad Supplies, 

407 LIBRARY ST., 

PHILADELPHIA. 



COMBINATION SAW. 

Without Lathe. 




FIDELITY AND CASUALTY COMPANY. 

CASH CAPITAL, - - ^ - $250,000. 

FIDBLiIT^X" BOISTDS. 

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility, 
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per- 
formance of the duties of employes in all positions of trust. 

-A.OOIIDE1TT FOLiIOIES. 

Policies issued against accidents causing death, or totally disabling injury, insuring from Five Hundred 
Dollars to Ten Thousand in case of death, and from Three Dollars to Fifty weekly indemnity in case of dis 
abling injuries. 

WM. M. RICHAHDS, P*-«'<. JOHN M. CRANE, S«:'y. 



Price $6 without Lathe ; with Lathe, $8. 

Addkess the Manufacturebs, 
C. M. CRANDALL. & CO., 

MONTBOSE, Susquehanna Co.. PA. 



IDIRBOTORS : 



George T. Hope. 
G. G. Williams. 
J. S. T. Stranahax. 



H. B. Claflin. 
A. S. Barnes. 

H. A. HURLBUT. 



W. G. Low. 
Charles DEV^^s. 
S. B. Chittenden. 



George S. Coe. 
Wm. M. Richards. 
A. B. HoLU 



PARDEE CAR VrORKS. 




WATSONTOWN, PA. 

PARDEE, SMIR k (0., llHilfED 




PUOFRIETOKS. 

li^anviffeiot'u.rers of 

Mail, Baggage, Box, Gondola, Flat, Gravel,. Ore, ('oal, Mine, and Hand Cars; 

Kelley's Patent Turn-Tables, and Centei^s for Wooden Turn-Tables; 

Car Castings, Railroad Forgings, Rolling-Mill Castings, 

Bridge Bolts and Castings. 

j^"We have, in connection with our Car Works, an extensive Foundry and Machine-shop, and are prepared 
to do a general Machine Business. 



Chairman, 
ARID PARDEE 



, r 



Treasurer and General Manager, Secretary, 

, H. P. SNYDER. N. liEISEB. 

NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY. 

C. "W. LEA VTTT, Agent. 



STEEL 
CASTINGS 



FROM 1-4 TO 10,000 lbs. WEIGHT. 

True to pattern, sound and solid, of uncqualed strength, toughness and 

durability. 
An invaluable substitute for forgings or cast-irons requiring three-fold 

Ptreneth. 
CROS.S-HEADS. rocker- arms. PISTON-HEADS. ETC., foi 

Locomotives 
15,000 Crank Shafts and 10,000 Gear Wheels of this steel now running 

prove 1 ts superiority over other Steel Castines. 
CRANK-SHAFTS, CKOS.S-HEADS and GEARINi 



Circulars and Price Lists free. Address 



GEARING, specialtie*. 



CHESTER STEEL CASTING CO. 

407 I^lbrary St., PHILADELPHIA 
^Forka. CH£ST£R. Pa. 



Mff lORK.lAO E RIE, AID W ESTEBI RAllffAI 

TO THE TR,-A."VE3rjIN"Ca- FXJB3LiIO. 

During the Centennial season— six months closing September 10, 1876 — the Erie Railway cairied 
Thbke Million passengers, without a singe accideijt to life or limb, or the loss of a piece of baggage. 

And for a whole year the official records of the United States Post Office Department show the tt rivak 
Erie Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines. 

Facts well worthy the consideration of travelers. 



E. S. BO"WEN, General Superintendent. 



JNO. N. .ABBOTT Gtm. 



:.-*»_ iii^>i 



tVw.V'l LjSit ' J" 



f*p«H5»^w*iBB3T!^pii«wr^^l«»!5f"»»T^w^7^ 



32 



AMERICAN RAILROAD JOURNAL. 



;'• V ••;;*: 



y • --■ . ■■». . 




iliis uiittenal la ludistruotiblc aud tlierclort; valuable lor all purposes oi 



HEAT, 



SOUND 



.A.3srr>- 



FROST-PROOFIJ\G. 



Over 3,600,000 lbs. now in actual use ; 614,000 lbs. of which have been applied in cars as shown in diagram. 

Adopted by the Nftw York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution. 

Sample and circular free by mail. 



UNITED STATES MINERAL WOOL COMPANY, 



N"o. IS Cortlandt Str-eet, 



l^TE-W ITG-RS^. 



EAGLE 
TUBE CO., 

614 TO 626 WEST 24TH ST 

New York. 



Boiler 



Tubes, 



THE PERFECTED 



EMINGTON 



1. ' 




Of all reg^ular sizes, of the 
best material, and 

warranted. 

■- ' •- " -■ ■ -. ■ -' ■' 

Locomotiye Water-Grates a 

specialty, and 20 per cent 

below regular prices. 

Prices lower than other Manufacturers. 



NO PAYMEUT REQUIRED XTNTHi 

TUBES ARE TESTED AND 

SATISFACTORY. 

N, B — Send for Stock I.ist. 



ALOJNZO FOLLETT, 



T¥PE-WRITER. 

A WRITING - MACHINE which combines 
ease with rapidity and accuracy, 
\ ] and economy with elegance 
1 i and convenience. 

Adapted to general use. Every machine 
i 1 ]} guaranteed. 

Send for Circulars with names and testimonials of 
recent patrons. 

i E. REMINGTON & SONS, 

r 

281 and 283 Broadway, New York. 
i 38 Madison Street, Chicago. 
j 124 South Tth Street, Philadelphia. 
I 21 South Howard St., Baltimore. 

I [MenAion tbu paj»«r.] 



© TTv^. 



STI^EET. 



Paiiie. Webber & ( o., 

\ ^ Bankers and Brokers, 

JVo. lis Devonsliiri' St.. Boston 

j {Members of the Boiton Stock Exchange.) 



RAILROAD IRON. 

The undersigned, agents for the manufacturers, are 
prepared to contract to deliver best quality American 

"Welsh Steel or Iron Kails, and of any required 
weight and pattern. Also Speigel and Ferro Manganese. 

PEBH.INS & CHOATE, 

33 Nassau Street, WRW YORK. 

John H. Davis & Co. 

BMEBS AND BROKERS, 

No. 17 l¥all St.. N«>ur %ork. 



Interest allowed on temporary and standing deposits. 
Stocks and Bonds bought and sold on Commission only, 
either on Margin or for InreKtment. 



1SSTABL.ISHED IN 1836 



LOBDELL CAB WHEEL COMPANY, 

IVllming^ton, Delaware. 

■; '1: ;■: ■': 

GEORGE G. LOBDELL. rresident. 

WILLLA.M W. LOBDELL, Secretary. 

P. N. BRENNAN, Treasurer. 



J. C. BEACH, Treas. 



C. H. ANTES, Sec-y. 



TKB 



Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A 1. j 

' ' . *' * ■ --■■'■.:- ■ * ; '■ 



Devote special attention to the purchase and sale of 
Stocks and Bonds in the Boston market, the .careful se- 
lection of securities for investment, and the negotiation 
of commercial paper. 

Wm. A. Paine. Wallace G. Webber. C. H. Paine. 



ALL ABOUT HAR^SAS 



THE WEEKLY CAPITAL is an eight-page, 48-COLTJMN 
paper, published at Toveka, Kansas, giving full and re- 
liable State news, crop and weather reports from every 
County. fl.OO per year. Sample copy free. 



ALLEN PAPEB CAB WHEEL COMP'I 

Gen'l Officr, 340 Broadw»), N. V. 

WoBKs AT Pullman, III., and Hudson. New York. 



AN INDESTRUCTIBLE WHEEL FOR PASSEN- 
GER CARS AND ENGINES. 



E. W. Vandebbilt. 



E. M. Hopkins. 



VANDERBILT & HOPKINS, 

Kailroad Ties, 

Car and Railroad Lumrer, White and Yellow Pine and Oal 
lao L.it>erty Street, 1%. Y, 

Also North Carolina Pine Boards, Plank, and Dimen- 
sions Lumber to order. General Railroad Supplies. 



••;-!'•- 3» 




Steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



Sbcomd Quarto Sebies. — Vol. XXXVIII., No. 3.] 



NEW YORK, JANUARY 21, 1882. 



[Whol« No. 2.387.— Voi^ LV. 



The First Wagner Sleeping-Car. 

The following is Senator Webster Wagner's 
account, as nearly as the writer can remember, 
of the way in which he induced Commodore 
Vanderbilt to adopt his Sleeping-Car : 

"I had never thought of the sleeping-car 
until I saw one, of a very clumsy pattern, that 
had been built by some man living up beyond 
Palatine Bridge. The man had no capacity, no 
capital, and not much inventive genius. I 
thought right away that the idea was a good 
one, but that it was be developed. I hadn't 
much capital either, but I saw that I could do 
better than the man who had made this first 
attempt, and I immediately applied to Mr. Wil- 
liam H. Vanderbilt to be allowed to use an old 
car to illustrate my notion of what a sleeping- 
car should be. I saw that the Hudson River 
Railroad was sharing a large business with the 
night boats, which it ought to have itself. Men 
who needed all the time they could get be- 
grudged the five or six hours lost in traveling 
between Albany and New York by boat. It 
seemed to me that much time could be saved 
by providing accommodations for merchant's 
and others who ^yould be glad to sleep while 
■ they traveled rapidly. My request for an old 
car was granted, and I went to work to fit it up 
with berths. It took me months to finish the 
car in such a way as to satisfy me that it would 
do to show. When it was completed, there 
was another difficulty. Until it had been seen 
and approved by Commodore Vanderbilt, it 
could not be used on the Hud.son River Rail- 
road. So I went to Mr. W. H. Vanderbilt and 
urged him to induce the old man to name a 
day when he would look at it. At first the 
Commodore would pay no attention to the re- 
quest, but at last he said that on a certain Sun- 
day morning— it was early in the year 1858— 
he would come to the Thirtieth street depot 
to look at the new-fangled car. It was a criti- 
cal moment for me that Sunday morning when 
I waited in my car to show the Commodore 
through it and hear his verdict. I walked 
through the car a dozen, perhaps a hundred 
times to see that everything was right. At last 
the Commodore arrived with his son. He came 
in. said • Good momine,' and then I led him 
from one end of the car to the other, explain- 
ing its arrangements with my heart in my 
mouth, not daring to ask his opinion. He 
walked back and forth, looked at the berths, 
the curtains and seats, and at last sat down in 
one of the compartments— the car was divided 



into several saloons — and spread out his hands 
upon one of the adjustable tables. I watched 
him. He was ready to say something, and I 
was afraid he would condemn the work. 

" How many have you got of these things ?" 
was his first question. ^^ 

" I told him I bad only one. 
" ' Go ahead, said he, ' and build more. It's 
a devilish good thing and you can't have too 
many of them.' 

" My heart dropped back in its place and I 
knew that my fortune was made. With my 
brother's help four cars were built, and we had 
them running in the Fall of the same year. " 

Mr. Wagner then went on to explain the dif- 
ference between the first cars and those of a 
more recent make. The earlier on«s were not 
provided with folding arrangements, in which 
the mattresses, pillows, linen, and blankets 
could be stowed away snugly. The first car 
had a single tier of berths, and the bedding had 
to be packed away in a closet at the end of the 
car, occupying a great deal of valuable space. 
One tier of berths was not profit enough, and 
a second tier was put in. The upper berths 
were too close, as the roof was flat, and to over- 
come that objection the pitched roof, much 
higher than that of the old cars, was devised 
and applied, securing ventilation and eventu- 
ally admitting the swinging upper berth now 
used. This pitched roof was patented, and has 
been used everywhere, since it was adopted by 
Mr. Wagner, with great profit to its inventor. 
After the cars began to be used, Mr. Wagner 
said he had no difficulty in getting all the capi- 
tal he wanted, although Commodore Vander- 
bilt insisted that the cars should be built by a 
company, and that he must have an interest in 
the concern. An arrangement was made that 
has been carried out to the satisfaction of both 
the Vanderbilts and Mr. Wagner. 

Senator Wagner said, on this occasion, 
that after the sleeping and drawing room 
cars came into use he had repeatedly gone 
abroad to study the methods of construction 
of railway cars on foreign railways, and he ex- 
plained with some minuteness the English, 
French, and Swiss csuriages, som& of the cars 
on the Swiss railways having impressed him as 
superier to most of the others he had seen. He 
complained that nearly all of them were desti- 
tute of conveniences which are regarded as ab- 
solutely necessarj' by American travelers, and 
he was convinced that the time was not far dis- 
tant when travelers from Europe, who had been 
in this country, would succeed in convincing 



foreign railway managers of the importance of 
adopting the baggage check system, the bell- 
rope signal to the engineer, and other Ameri* 
can ideas. He had narrowly escaped injury in 
several accidents to trains on which he was 
traveling, and described one smash-up in which 
he had left the baggage car only a few moments 
before collision, by which the car he had been 
in was wrecked and a man with whom he had 
been talking was killed. He spoke of his im- 
munity from injury as something almost mir- 
aculous for a man who had traveled go son- 
stantly for more than 20 years. 



Railroads of Arizona. 



The completion of the Southern Pacific Bail- 
road across Arizona marks a new era in the 
history of the Territory. No longer is it an 
unknown land, isolated from the busy centers 
of civilization, trade, and active industry ; the 
dangers and discomforts of long and ^eary 
stage rides, have been superseded by the luxury 
of the palace car, and a trip to the *' marvelous 
country," at the present time, will be found 
both pleasant and profitable. The Southern 
Pacific enters Arizona at Yuma and crosses the 
Territory between the 32 and 33 degrees of 
latitude. Its length within the boundaries of 
Arizona is over 400 miles. Since the building 
of the road, many towns and mining camps 
have sprung up in the country adjacent ; an 
army of prospectors, traders, and speculators 
has filled the Southern counties, and the 
steadily increasing volume of bullion which is 
finding its way out of the countrj', is an earnest 
of what other portions of the Territory' will do 
when they are likewise in possession of rail 
communication. At Deming, near New Mexi- 
co, about 90 miles East of the Arizona line, 
another great transcontinental route, the Atchi- 
son'^ Topeka, and Santa F« railroad, forms a 
junction with the Southern Pacific. This line 
(Atchison, Topeka, and Santa Fe) begins at 
Kansas City, Missouri, traverses the plains of 
Elansas and Colorado, enters NewMexico, and 
passes down the Rio Grande valley, from 
whence the main line turns West towards Ari- 
zona, while another branch follows the Rio 
Grande to El Paso. From Deming, the Atchi- 
son Topeka and Santa Fe Company have .their 
road surveyed to Tombstone and Tucson, 
where it is expected it will connect with the 
branch which is now building from Guaymas, 
through the State of Sonora. The opening of 
this great thoroughfare will give Southern 
Arizona direct rail connection with the Gulf of 



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Calit'orniti, as its junction at Deming with the 
Southern Pacific has already linked it with the 
Mississippi valley and the Atlantic seaboard- 
Ann mg the branch roads projected from the 
line of the Southern Pacific, is that from Ben- 
son station to the City of Tombstone, a dis- 
tance of 28 miles. Ground has been broken 
for this branch, and it will be finished at an 
early day. A branch has also been surveyed 
from Wilcox to the town of Globe. The length 
of Cliis proposed line wiU be something over 
100 miles. It will pass through one of the best 
grazing portions of the Territory, by the lately 
discovered coal fields near the Gila, and will 
open up to capital and immigration that rich 
mineral region which has Globe for its, center. 

Another bmncli line is in "contemplation 
from Casa Grande station to Pinal, by way of 
Florence. It will pass through the rich valley 
of the Gila and penetrate the extensive mineral 
region embraced in the Pioneer, Pinal, Mineral 
Creek, and other rich districts of Pinal county. 

The Southern Pacific company have surveyed 
a line from Yuma to Point Isabel, on the Gtilf 
of California. A good harbor is said to exist 
at that place. The building of this branch will 
give the Territory another outlet to tidewater 
on the gulf. A line has also been surveyed 
from Yuma to the rich mining camps of Castle 
Dome and Silver district, on - the Colorado 
river. 

In the Northern part of the Territory, the 
construction of the Atlantic* and Pacific rail- 
road is making i*apid progress. This road 
leaves the Atchison, Topeka and Santa Fe at 
Albuquercjue, and takes a westward course 
across the Territory, following nearly the 35th 
parallel of north latitude. The road will pass 
about 50 miles North of Prescott, the capital of 
Arizt^na, and will cross the Rio Colorado at the 
Needles. This road will have terinini at San 
Francisco and San Diego. The Atlantic and 
Pacific line will open to the capitalist, the 
miner, and the stock raiser, some of the finest 
grilling and richest mineral regions to be found 
on the continent ; it will also pass through the 
best timbered portion of the Territory. A fran- 
chise hiis been granted by the last Legislature 
to build a branch from Prescott to the Atlantic 
and Pacific. The extensive mining, farming, 
and grazing interests, of which Prescott is the 
natural center, require the construction of such 
a road, and it will no doubt be completed with- 
in a short time. " . - 

Besides the roads now bwilfling and those 
projected, which have been mentioned, the 
Utah Southern is being pushed down to tha 
Colorado river, with the intention, as is gener- 
ally supposed, of seeking an outlet on the Gulf 
of California. This would give Arizona a con- 
nection with the Union Pacific and another 
route to the East and West. 

From this brief review of the railroad situa- 
tion, it will be seen that all the principal poicts 
in the Territory will soon be in possession of 
rail communication. It is safe to say that 
within the next two years all the leading towns 
and m'ning caiups will be linked to the outside 
world with iron hands. The benefits which 
cheap freights and rapid transit will confer on 
the Territory are almost incalculable. Besides 
that the- building of the road on the 35th paral- 



lel will give the people of Arizona a competing 
line to the marts of the East and the West, it 
will help to maintain a haalthy competition, 
and prevent discriminating and oppressive 
charges on freight and travel which the cor- 
poration controlling the Southern Pacific have 
always shown a disposition to indulge in when 
there was no opposition. 



Commerce of Nev^r York. 



The foreign imports at New York for the 
month of December were :— 

1879. 1880. 1881. 

Ent. for COU8 $15,191,709 $14,726,093 $19,303,335 

Do. for warehousing 7,875,733 5,817,234 6,106,934 

Free goods 15,805,136 10,540,073 13,894,803 

Specie aud bullion.. 6,751,319 16,202,447 1,757,101 



Total ent. at port.... $45,683,897 $67,285,847 $41,121,455 
Withdrawn from 
warehouse 4,4^3,935 6,835,847 6.499,736 

This brings the total for the year 1881 up to 
$495,42^,900, against $539,386,776, for the year 
1880, and $424,189,123 for the year 1879. 

The following is a classification of imports at 
New York for the years : — 

1879. 1880. 1881. 

Dry Goods .^91,549,600 $119,844,120 $111,537,020 

General mdse 24«,443,414 344,332,560 327,864,653 

Specie 84,196,109 75,210,096 56,923,233 



Total $424,189,123 $539,386,776 $495,424,906 

The duties received at New York for the 
twelve months ending with December were : 



1879. 

Jan $7,665,552 67 

Feb 8,229,362 U<> 

Mar 9.330,695 68 

April 1,184,797 88 

May 7.577,733 93 

June..... 7,198,779 44 

July 9.329.895 17 

Aug 10,562,138 82 

Sep 11,790,902 26 

Oct 10,952,554 48 

Nov 8,460,050 08 

Dec 8.175,540 13 



1880. 

$11,960,677 78 

11,2.55.002 24 

14.469,557 65 

11,901,071 43 

9.752,773 54 
10,699.840 52 
13,360.394 37 
14.492.361 87 
12,856,636 10 
10.574,333 53 
9.V79,082 36 

9.230,734 57 



1881. 
$10,571,559 15 
11,^17,766 87 
13,122,964 03 
11,678,760 93 
11,055,935 39 
10,993,452 70 
12,079.573 95 
15.204.469 51 
14,104,647 58 
13,011.426 27 
9.711,039 46 
10,972.231 38 



Total... '.$107,448,002 60 $140,632,065 96 $143,724,917 22 

The exports from New York to foreign j:)orts 
in the month of December were : — 

1879 1880 1881 

Dom. produce $33,126,695 $33,620,453 $29,430^216 

For. free goods 272,895 978,709 1,156.495 

Do. dutiable 449,973 415,127 643,635 

Specie and bullion... 643.804 1.66T.962 1.104,760 



Total exports $34,493,367 $36,682,251 $32,335,106 

Do. exclusive of spe- 
cie 33,848,563 3.5,104,289 31,230,346 

The exports from New York to foreign ports 

exclusive of sj^ecie for the years named were : 

1879. 1880. 1881. 

lst<iuar $78-474,748 $82,934,173 $94,961,907 

2d " 79,982,231 112,049,304 91,:107,603 

3d " 96,423,052 113,106,665 100,488.172 

4th f 101,337,534 107,732.685 86.648.687 

Total $356,218,565 $415,822,827 $373,136,370 



Asbestos Faint. 



SoMK interesting tests have recently been 
made in England of the value of asbestos paint 
applied to wood, canvas, and other combustible 
materials. Amongst other experiments a piece 
of light pine wood, about six inches long by 
four inches square, painted with nve coats, was 
placed for upwards of half an hour in an ordi- 
nary grate fire, but, although the wood within 
was reduced to charcoal, there was no blaze 
whatever emitted during the charring. A small 
model theatre, built of wood, with net scenes 
and accessories, was sprinkled with turpentine 
and set on fire. Every portion ignited and the 
whole was consumed. A similar model, with 
the net scenes and the wood framing all painted 
with asbestos, was drenched with turpentine 
and set fire to, but the thin scenes were only 



partially charred at the lower ends with the 
turpentine flames, whilst the timbering was 
not even ignited. Similar illustrations were 
made with two models of larger size about four 
feet cube, built on a bed-plate of one inch deal 
board, and set fire to by a bundle of shavings. 
The one was burned and the bed-plate set on 
fire. In the other case, where the framing 
scenes and bed-plate had been painted with 
a.sbestos, no ignition was effected, and, although 
the lower portions of the light scenes were de- 
stroyed by the fierce flames of the shavings, 
the rest remained intact, f ■ 



"Water-Pow^er in the Southern States. 



Virginia has a water-power of great extent 
and value. Almost all the streams in the state 
have ample fall for mill-seats. The line of the 
James river from Buchanan to Richmond is a 
favored locality for manufacturing. Jackson's 
river, a branch of the James, has a large fall 
from its head to its junction with the James. 
Lynchburg has an excellent water-power. 
There are many rivers originating in Middle 
Virginia which have sufficient fall for manufac- 
turing ; those in the Piedmont have a still 
greater fall ; and those in the valley and Blue 
Ridge and Apalatchia have a fall varying from 
500 to 1,000 feet, which may be used for manu- 
facturing. The whole country from the Poto • 
mac to the Dan abounds in manufacturing 
sites. On the 100,000 available horse-power 
on the James, 44,800 of this power exists from 
Richmond to Bosher's dam — ten miles — with a 
fall of 130 feet. ] , 

North Carolina is estimated to have more 
than three million horse-power in her streams 
from the table lands to the sea. This exceeds 
that of all the steam engines in the United 
States and Great Britain. - j 

Prof. Kerr estimates the water-power of that 
pait of Roanoke river within the State at 70,- 
000 horse-power ; that of the Yadkin at 225,- 
000 ; that of the Catawba at 184,000 or enough 
in the last to turn 7,360,000 spindles, and that 
of the Cape Fear, Haw and Deep rivers com- 
bined at 130,000 horse-power, a force suflicient 
to turn 5,200,000 spindles. Thus far these im- 
mense powers waste themselves in almost un- 
heeded call. 

South Carolina has over two millions of 
water-powers from water falling in the State. 
The commissioner of agricultural of that State 
ays :— 

"Considering the magnitude of the North 
Carolina water-shed that finds its drainage 
through this State estimated at 3,370,000 
horse-j)Ower, we may safely add from this 
source one million to our estimate, giving a 
total of three million horse-powers for the 
State." 

Georgia does not fall behind her sister States 
in her water-power. The differences of eleva- 
tion between the sources among the mountains 
and the mouths of the rivers emptying into 
the ocean or gulf, ranging from one to three 
thousand feet, demonstrates the abundance 
and value of the water-power of the State, 
The Chattahoochee, Etowah, Savannah, Broad, 

Ocmulgee, Flint, Ogeechee, Altamaha and other 
rivers and streams afford power enough to 
satisfy all the demands that can be made by 
manufactories. — Southern Railway Gazette. 



AMERICAN RAILROAD JOURNAL. 



35 




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AMERICAN RAILROAD JOURNAL CO., 

At 23 Liberty Street, New York. 



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authorized only by the written order of Geo. F. Swain, 
Treasurer; and the Company will not be responsible for 
the payment of bills unless accompanied by such order. 

Subscribers are requested to report to our office any 
irregularity in receiving the Joubnal. 

Contributed articles relating to Bailroad matters gen- 
erally. Mining interests. Banking and Financial items, 
Agricultural development, and Manufacturing news, by 
those who are familiar with these subjects, are especial- 
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Payments for advertising and subscriptions should be 
made by check payable to order of the Treasiirer. 



BRANCH OFFICE: 
93 Devonsbire St., Boston, I^Iass* 



Mr. Fbedebio Algae, Nos. 11 and 12 Clements Lane, 
Lombard Street, London, E. C, England, is the author- 
ized European Agent for the Joubnal. 

Ne-w York, Saturday, January 21, 1882. 



Entered at the. Post Office at New York City as Second-Class 
Mail Matter. 



PRECAUTIONS AGAINST RAILROAD 
ACCIDENTS. 



nPHE terrible disaster on the New York 
Central and Hudson River Railroad 
last week, in the intensity and cruel bit- 
terness of its horrors and the causes 
which made its occurrence possible, must 
of necessity stand, in the estimation of the 

general public, as a most unfortunate re- 
flection upon the railroad and train man- 
agement, upon whom the responsibility is 
placed. Theories in abundance are afloat 
as to the causes, and investigations will 
doubtless fix somewhere a personal re- 
sponsibility. But the causes are plain 
enough, and while the advancement of 
theories may result in good, still not much 
theorizing is needed to demonstrate why 
such a disaster was possible or quite 
probable. One long train of magnificent 
cars, supposed to be a model train in 
equipment and management, and crowded 
with passengers, is closely followed by a 
local passenger train, neither train run- 
ning on its regular time. The first train 
is brought to a stand-still at an unusual 
point and its pursuer is not stopped, but 
plunges into the rear drawing-room car 
at full speed. The results were terrible 
and heart-rending enough, but it is a 
wonder that they were not still more so 
under the circumstances, and it seems 



almost miraculous that the destruction of 
life was not even greater. The local 
train which followed the express was not 
stopped in this case, and under the system 
it is not necessarily surprising though it is 
shameful beyond expression, that it was 
not. 

The rules of the railroad company were 
sufficiently explicit in this matter, but 
there was no guarrantee of their being 
carried out save the faithfulness and 
ability of two men — the brakeman at the 
rear of the express train and the engineer 
of .the local. The disability or careless- 
ness of either one of these men must re- 
sult in destructive consequences. This is 
the risk in all such cases where the sole 
dependence is up on one man, and this risk 
is very conspicuous in the case of a man 
stationed at the rear of a long train, 
where his movements cannot be watched 
by a superior officer or his disability 
noticed and promptly met by a compan- 
ion. One of the chief merits of the sys- 
tem known as the block system is that 
the absence from his post of the signal- 
man, or his disability, leaves the signal in 
such a manner as to notify the engineer 
to stop, which the rules require him to do 
in all cases until the signals indicate that 
the '' block " ahead is clear. In cases 
where this system is not used there evi- 
dently is an imperative need that there 
should be some one on the train whose 
first duty it should be in the case of an 
accident or an unusual stop to see that 
every train man is at his post, and especi- 
ally that no disability or carelessness has 
prevented the brakeman on the rear car 
jrom performing his important duties. 

A train like the one in question, to 
which may be entrusted daily the lives of 
perhaps 500 passengers or more, should in 
all respects be as complete in its equip- 
ment and in the number and character of 
its trainmen as human skill and judgment 
of men can possibly make it, as should be 
the case, for that matter, with every 
train, great or small, carrying passengers. 
Railroad men constantly have impractical 
ideas and suggestions placed before 
them, but certainly there is nothing un- 



reasonable in the demand that all possible 
appliances for preventing and extinguish- 
ing fire and for extricating passengers 
from wrecked cars should be an acknowl- 
edged and never neglected part of a pas- 
senger train's equipment, and that the 
trainmen should be trained in the perfor- 
mance of the duties devolving upon them 
in cases of emergency as are the men on 
board an ably commanded ship. The 
terrible experience of last week has fully 
illustrated the necessity of these precau- 
tions, and the demand for them must be 
met. This is a point upon which there 
can be but one opinion as to the pro- 
priety of legal action in cases where 
the indiflerence or shortsighted selfish- 
ness of railroad managers prevent their 
adoption. The demands that are made 
in this direction must be listened to, and 
^''\\\ be by all men worthy of public 
esteem and the responsible positions of 
railroad managers. 

Nickel— Origin of its Name. 



" Nickel," says an old magazine of 1824, 
'* signifies iii German, from which it is derived, 
false, dirty or foul, and in this sense is applied 
to the very worst description of females. Now, 
nickel is found in different parts of Germany, 
and was supposed by the miners to be copper. 
As they could not, however, extract any copper 
from it, they gave it the name of Kopfemickel, 
or false copper. When a scientific chemist by 
the name of Cronstedt came to examine it, 
about 1750, and found that it was metal differ- 
ent from all others, he retained the latter part 
of the name, given it in reproach, and called it 
nickel, which has since been universally adopt- 
ed ; and thus an element of nature is stigma- 
tized by a term than which no more oppobri- 
ous name can be given to a woman. For any 
other people but Germans this is certainly of 
no consequence, but it is rather a curious spec- 
imen of the manner in which names, that in a 
scientific point of view ought to express the 
qualities of substances, are applied. Nickel is 
rather a scarce mineral, and is always found 
combined with some other metals, which, for a 
long time, occasioned its separate existence to 
be denied. The brittle metal that is usually 
sold under this name always contains iron, ar- 
senic, copper, cobalt and bismuth. When pure, 
it is a fine white color, resembling silver, and 
it is rather softer than iron. It is malleable 
both when cold and hot, it is attracted by the 
magnet, and, like steel, may be converted into a 
magnet, pointing, when suspended, to the north 
like a common magnetic needle. It is put to no 
use, and is, perhaps, most remarkable on ac- 
coTint of its forming a part of almost all the 
stones that have fallen from the sky (meteoric 
stones) in every part of the world." 



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CONSTRUCTION". 



A RAiuROAD is being surveyed from the vicin- 
ity of Maricopa, Arizona, to Phoenix, thence to 
, the Vulture Mine and Prescott. 

A CONFERENCE of railway managers has fixed 
the time for opening the entire St. Gothard 
Railway line on the 1st of July. 

The track of the Mexican National Railway 
is now completed across the State of Tamauli- 
pas and is being laid at the rate of a mile a day 
in the State of Nuevo Leon. 

The Baltimore and Delta Narrow-Gauge Rail, 
way Company commenced this week to lay 
tracks on the Sheppard Asylum property, about 
1 mile from Towsontown. • 

The grading for the 2-ih miles of double track 
of the Baltimore and Potomac Railroad was 
commenced this week at Odentown. The work 
is to be completed by July next. 

The Upper Lehigh Coal Co. are building a 
narrow gauge railroad from their Green Moun- 
tain slope to their Upper Lehigh breaker, a 
distance of two and a half miles. 

The Youngstown News says that the contrac- 
tors are working along the line of the Pitts- 
burgh, Youngstown and Chicago Railway a 
new road being projected from Akron to Pitts- 
burgh. 

The directors of the Atlantic and French 
Broad River Railroad met at Abbeville, S. C, 
on the loth inst, and signed a contract with 
Childs & Oliver, of New York, for jthe building 
of the road. 1 " 

Thb w^ork of surveying and locating the 
Steubenville and Cleveland Railroad was com- 
menced on the 9th inst., at a point on the 
Cleveland and Pittsburgh Railrond 7 miles 
abovo Steubenville. 

The Denver, Utah and Pacific Railroad be- 
tween Denver and Longmont was opened for 
business on the 17th inst. Freights are now 
being run through without breaking bulk be- 
tween Denver and Kansas City. i 

The directors of the Southern Pacific Rail- 
road Company of Arizona have appropriated 
$300,000 for the construction of the Yuma and 
Port Ysabel Railroad. The latter, according 
to President Crocker, will be completed in 60 
days. 

The name of the Bellaire, Beaver Valley and 
Shawnee Railway Company has been changed 
to the Wheeling, Cincinnati and Mineral Rail- 
way Company ; its termini has been changed to 
correspond, and its nominal capital increased 
to $5,000,000. 

The first train over the Toledo, Delphos and 
Burlington Railway from Cincinnati, arrived at 
Dayton on the 12th inst. This makes the con- 
nection complete between Cincinnati and Tole- 
do over the Toledo, Delphos and Burlington 
narrow-gauge route. The road has yet to be 
ballasted before it is opened for regular busi- 
ness. 

The directors of the Philadelphia, Wilming- 
ton and Baltimore Railroad Co., at their recent 
annual meeting in Wilmington confirmed the 
the purchase of the Delaware and Chesapeake 
Railroad, which runs from Clayton, on the 
De^ware Railroad, to Oxford, Md., 54 miles. 



The road will pass into the hands of the new 
owners about February 1st. 

The Harrisburg and Potomac Railroad has 
been completed to Leesburg, Pa., and trains 
are now running to that point. There is still a 
link of 4 miles between Leesburg and Ship- 
pensburg to complete. Workmen are busily 
engaged in pushing the work of grading along 
rapidly, and it is thought trains will be run- 
ning into Shippensburg about the last of 
March. . 

The directors of the Canadian Pacific Rail- 
way resolved not to build the contempiatel 
branch to Sault Ste. Marie, but to connect with 
the Chicago and Northwestern Railway instead. 
While their line along the North shore of Lake 
Superior is in progress of construction the 
company will use fast stearmers to carry 
freight from Algoma Bay to Chicago and Thun- 
der Bay. 

Ground was broken on the 10th inst., at St 
Louis on the extension of the Atlantic and 
Pacific Railroad, from Vinita, Indian Territory, 
to the Arkansas River. A large" force will be 
put at work, and the whole section of 65 miles, 
the contract for which was let some days ago, 
will be ready for the rails by May 1. Several 
engineering parties are locating a line from the 
Arkansas river to Albuquerque, New Mexico. 

It is expected that the new short line of the 
Chicago, Milwaukee and St. Paul Railway, -be- 
tween Chicago and Omaha will be opened about 
the middle of May. By this line it is only 46b 
miles from Chicago to Omaha. The line inter- 
sects the Chicago and Northwestern Railway at 
Marion, and then runs parallel with and be- 
tween both the Chicago and Northwestern, and 
the Chicago, Rock Island and Pacific railways, 
the entire breadth of Iowa, intersecting the 
latter road a few miles Northeast of Council 
Bluffs. 

It is stated on good authority that the money 
has all been raised for the building of the 
North Shore Railroad of Long Island, and that 
the contracts will shortly be awarded. The 
Long Island Railroad Company, will in the 
course of a few weeks begin work on the ex- 
tension of the Locust Valley branch, to run 
through the villages of Oyster Bay, Cold Spring 
and Huntington to GreenlawD, and the exten- 
sion of the Port Jefferson branch to Riverhead 
and Greenpoint. From Greenpoint connection 
will be made by ferry with Fort Pond Bay. 

The new Stony Clove and Catskill Mountain 
Railway, connecting Hunters, Tannersville, 
and the old Greene County region of the Cats- 
kills with the Ulster and Delaware Railroad at 
Phoenicia by way of the famous Stony Clove 
Notch, began running to the latter point on the 
16th inst. It has been in operation as far as 
Edgewood, 8] miles from Phoenicia, since last 
August .It is now completed to within four 
miles of Hunter's Village, its proposed termi- 
nus, and two miles from Tannersville Junction. 
All is to be in readiness for the regular sum- 
mer mountain travel by June next. 

A MOVEMENT is OH foot to build a railroad 
from Kingwood, Preston county. West Virginia, 
to some point on the Baltimore and Ohio line. 
Several prominent persons, including Senator 
Dawson, Hon. Frank Heermans, Hon. J. C. Mc- 1 



Grew, Hon. Jas. H. Brown, Hon. Charles M. 
Bishop, Gustavus Cressup, Dr. Maknown, J. 
Barton Payne, Smith Crane, Wm. G. Brown, 
Jr., and others are enlisted in the enterprise. 
Articles of incorporation have been taken out by 
a company. The routes from which to select 
are to Tunnelton, on the Baltimore and Ohio, 
ten miles, along the valley of Cheat River ; or 
to Newburg, 15 miles, through a rich field of 
coal ; or to Rowlesburg, 12 miles. 



ORGANIZATION. 



The directors of the Granite Railway Com- 
pany, elected on the 16th inst., are : William 
B. Sewall, John F. O.sgood, John W. Leighton, 
George F. Williams, George Lewis. The of- 
ficers are ; President, J. C. Pratt; vice presi- 
dent, John D. Parker. 

The directors of the Lehigh Valley Railroad 
Company, elected on the 17th inst., are: Charles 
Hartshorne, president, David Thomas, Ashbel 
Welch, William L. Conyngham, Ario Pardee, 
VViHiam A. Ingham, George B. Markle, Robert 
H. Sayre, Harry E. Packer, James I. Blakslee, 
Robert A. Packer, Elisha P. Wilbur and Joseph 
Patterson. 

The directors of the Buffalo, Pittsburg and 
Western Railroad Co., elected on the 9th inst., 
are: J. W. Jones, president, Clarence H. Clark, 
George F. Tyler, Edward A. Rollins, Archer N. 
Martin, B. J. Jamison, Foster W. Mitchell, 
Isaac N. Seligman, Harold M. Sill, Calvin H. 
A.llen, Giles E. Taintor, Edward L. Owen. 

The directors of the North Pennsylvania 
Railroad Co., elected on the 9th inst., are : 
Franklin A. Comly, president, John Jordan, jr., 
Wm. C. Ludwig, Edward C. Knight, Alfred 
0. Knight, Alfred Hunt, Thomas Smith, Ario 
Pardee, Jas. H. Stevenson, R. J. Dobbins, C. 
A. Sparks, E. H. Fitler, Thos. P. Stotesbury 
md Thomas Cochran. » 

The directors ot the Portland and Ogdens- 
burg Railroad Company, elected on the 17th 
inst., are : Samuel J. ATidersou, president, 
with the following directors : Horatio N. Jose, 
Western F. Miliken, Joseph S. Richor, Joel 
Eastman, James P. Botler, Rosell M. Richard- 
son, Willard W. Thomas, Jr., Samuel Water- 
house and Francis Fessenden. 

At the annual meeting of the Norwich and 
Worcester Railroad Company on the 11th inst., 
the following directors were elected : F. H. 
Dewey, Geo. W. Gill, Charles W. Smith and 
Edw. L. Davis, of Worcester; John. F. Slater, 
of Norwich; Wm. Bayard Cutting, of New York, 
and Wm. J. Weld, of Boston. F. H. Dewey 
was re-elected president. 1 

The following gentlemen were elected di- 
rectors of the New York Elevated Railroad 
Company, on the 10th inst., Cyrus W. F-eld, 
George S. Scott, Davis Dows, J. H. Lane, Jay 
Gould, Jesse Hoyt, Russell Sage, Daniel A. 
Lindley, John H. Hall, Edward M. Field, Alfred 
S. Barnes, James D. Smith and James A. Cow- 
ing. ■-....' :-'■••/-:. ■'-■ . V. •"- -'i- ■;. 

At the recent annual meeting of the Western 
Railroad Association in Chicago, the following 
board of directors was chosen : B. F. Ayer, B. 
C. Cook, A. S. Osborn, i'. F. Withrow, T. J. 
Potter, T. B. Blackstone, Chas. Paine, C. W. 



■1 * 



J. ' 



-Tr.rj^-v"-^-^ 



■-•■»««»^'7»->s^5wrT3»r^''f3?r;r-^?'^7^T5^J!"?F?"r 



AMERICAN RAILROAD JOURNAL. 



37 



Rogers, S. S. Merrill, T. Defuniak, S. R. Cal- 
laway and John C. Brown. The officers are : 
President, B. F. Ayer; secretary and treasurer, 
J. H. Raymond; counsel, Geo. Payson.. 

At the annual meeting of the Now York and 
New Haven Railroad Co., on the 11th inst., the 
old board of directors was re-elected by a full 
vote as follows: George H. Watrous, Edward 
M. Reed, William D. Bishop, Wilson G. Hunt, 
George N. Miller, Chester W. Chapin, A. R. 
Van Nest, Henry C. Robinson, E. H. Trow- 
bridge. Nathaniel Wheeler, C. M. Pond, Augus- 
tus Schell and William H. Vanderbilt. 

At the recent meeting of the stockholders of 
the Philadelphia and Reading Railroad Com- 
pany an election was held for president, secre- 
tary, treasurer and six managers of said com- 
pany, which resulted in the choice of the fol- 
lowing gentlemen : for president, Franklin B. 
Go wen ; for secretary, Albert Foster; for treas- 
urer, Samuel Bradford ; for managers— J. B. 
Lippincott, I. V. Williamson, Henry Lewis, 
Eckley B. Coxe, Edward C. Knight; Joseph B. 
Altemus. 

At the annual meeting of the New York, 
Pittsburg and Chicago Railroad Company, held 
in Pittsburg on the 10th inst., the following 
directors were elected : James S. Negley, Delos 
E. Culver, Henry Day, Wm. A. Cole, Wm. B. 
Scott, James R. McPherson, Charles Seidler, 
James S. Robinson, L. Scott, D. M. Carroll, H. 
E. Collins, W. N. Riddle and W. E. Schmertz. 
The officers ar. : President, James S. Negley ; 
vice president and chief engineer, Delos E. 
Culer; treasurer, W. N. Riddle ; secretary, James 
S. Negley. 

The directors of the Philadelphia, Wilming- 
ton and Baltimore Railroad Company, elected 
on the 9th inst., are: Isaac Hinckley, S. M. 
Felton, S. M. Shoemaker, Jacob Tome, Ch-rles 
Warner, William Sellers, Christian Febiger, 
George B. Roberts, A. J. Cassatt, John P. Green, 
J. N. DuBarry, Wistar Morris, Edmund Smith, 
Henry M. Phillips, Ben. F. Newcomer. The 
officers are : President, Isaac Hinckley; vice 
president, A. J. Cassatt ; secretary and treas- 
urer, Robert Craven ; superintendent, H. F. 
Kenney. ':■ .■ v'\. .;■::■•.■•; 

At the annual meeting of the stockholders 
of the U. S. Concave Spring Co. held at the of- 
fice of the Company, Coal and Iron Exchange, 
21 Cortlandt Street, on the llth of January, 
1882, the following board of directors was 
elected : Hon. W. T. Minor, William Davison, 
Geo. R. Blanchard, John F. Scott, John F. 
Moulton, Curran Dinsmore, E. M. Reed, Thom- 
as P. Simpson, J. W. Krepps. At a subsequent 
meeting of the bo rd of directors, the follow- 
ing gentlemen were unanimously elected as of- 
ficers of the company : Hon. W. T. Minor, 
president, John F. Moulton vice president, 
William Davison secretary, Charles W. Minor 
treasurer. 



CONSOLIDATION. 



The articles of consolidation of the Louis- 
ville, New Albany and St. Louis Railroad with 
the Evansville, Ro6kfort and Eastern were filed 
at Indianapolis, Ind., on the 14th inst. The 
capital stock is fixed at $6,000,000, and, as has 
already been announced, the new company 



takes the name of the Louisville, Evansville 
and St. Louis Railroad Company. 

Aeticles of consolidation have been filed in 
Wisconsin and Minnesota of the Chicago, Free- 
port and St. Paul and the St. Paul, Minneapolis 
and Chicago railways. The line extends from 
a point on the South boundary line of the State, 
in the town of Cadiz, Green County, to Minne- 
apolis, and the new corporation is named the 
Chicago, Freeport and St. Paul Railway Com- 
pany, capital stock $40,000,000, and the general 
offices for Wisconsin and Minnesota are re- 
spectively at Dodgeville, loA^a County, and 
Minneapolis. The stockholders of the consoli- 
dated company are M. J. Briggs, Thomas Ken- 
nedy, Aldro Jencks, Adam Eulberg, Wm. 0. 
Wright, Peter J. Morris and Chas. J. Thomas. 



INCORPORATION. 



An amendment to the charter of the St. 
Louis, Indianapolis and Eastern Railroad Co., 
has been filed with the Secretary of State of 
Indiana. The mortgage indebtedness of this 
company is increased to $20,000 per mile. Last 
fall the mortgage was increased from $12,000 
to $16,000 per mile, but the additional increase 
to $20,000 is due to high prices for material 
and labor. 

Thb Oriental Construction Company, filed 
articles of incorporation in Denver, Col., on 
the 13th inst., with a capital stock of $10,000,- 
000. The officers of the new company are G. 
M. Dodge, president ; Amos. L. Hopkins, vice 
president ; Frank W. Baldwin, secretary. The 
company is said to be organized in the interest 
of Jay Gould. Its object is to build railroads 
in the United States and Mexico. The princi- 
pal offices will be in Denver. 

Articles of incorporation of the Terra Heaut 
and Cincinnati Short Line have been filed with 
the Secretary of State of Indiana. The capital 
stock is $1,500,000, and the directors are Chas. 
C. P. Holden, Chicago ; George S. Bowen, 
Elgin, 111.; Joseph M. Davis, Chicago; Milton 
Holden, Chicago ; William V. Key, Waukegan, 
ni. ; Joseph S. Reynolds, Chicago ; James C. 
Hyde, Chicago ; Edgar Terhune, Chicago. The 
road will run from Lawrenceburg, Dearborn 
County, through the counties of Dearborn, 
Franklin, Decatur, Jennings, Bartholomew, 
Brown, Monroe, Greene, Owen, Clay, Vigo and 
Sullivan, the proposed length being 150 miles. 

Articles of association have been filed in 
the office of the Secretary of State of Arkansas 
of the Kansas City, Arkansas and Gulf Air-Line 
Railway. The amount of the capital stock is 
placed at $6,000,000. The directors are Rich- 
mond Hibbard, John McClure, J. G. Botsford, 
P. K. Roats and William H. Monaghan. Bryoks 
of subscription to the capital stock have been 
opened. The length of the main line of the 
road will be 220 miles. It will begin at a point 
in Little River County, and run across the 
Western portion of the State. 

Articles of association of the Salem and 
Little Rock Railroad Company have been filed 
with the Secretary of State of Missouri. Capi- 
tal, $1,600,000. The road is to extend from a 
poirt on the St. Louis, Salem and Little Rock 
Railroad at or near the town of Salem, in Dent 



county, thence in a Southwesterly direction to 
a point in either Ozark or Howell county (as 
may be found most practicable) on the bound- 
ary line between the States of Missouri and 
Arkansas. The length of the road will be 
about 80 miles and will run through the coun- 
ties of Dent and Texas, and also through Doug- 
las and Ozark or through the counties of Shan- 
non and Howell as may hereafter be determined 
to be most practicable and advantageous. The 
incorporators are A. L. Crawford, New Castle, 
Fa. ; W. L. Scott and Joseph McCuiter, of Erie, 
Pa. ; Emerson H. Foote and H. A. Crawford, of 
St. Louis. 



i^^ 



T}he Coal Trade. 



V... 



The leading coal carrying companies make 

the following reports of their tonnage for the 

week ending Janvary 7, and for the year to 

same date, compared with their respective 

amounts carried to the same time last year: 

Week. 1882. 1881. 

Reading Railroad 100,666 801.008 014,613 

Schuylkill Caual 27,655 

Lehigh VaUey 86.009 658,782 450,541 

Delaware, Lackawanna and 

Western 70,500 70,500 51,2.55 

Shamokin 10.178 10,178 13,165 

Central R. R. of New Jersey.. 40,121 40,121 46.045 

United R. R. ot New Jersey.. 27,5;J2 27 532 22.086 

.jennsylvauia Coal 19,836 19,836 14,844 

Delaware and Hudson Canal. . 49,330 49,330 39,934 
Huntingdon and Broad Top 

Mountain 10.856 10.856 11.169 

Peon, and New York 23,044 157,942 117,599 

Clearfield, Pa 39,085 39,085 32.398 

The total tonnage of anthracite coal from all 
the regions for the we 3k ending Jan. 7, 
amounted to 375,097 tons, against 318,577 tons 
in the corresponding week last year, an increase 
of 56,500 tons. This is the opening week of 
the new year. The quantity of bituminous 
coal sent to market for the week amounted to 
68,818 tons, against 71,523 tons, in the corre- 
sponding week of last year, a decrease of 2,705 
tons. The total tonnage of all kinds of coal for 
the week is 443,895 tons, against 390,100 tons 
in corresponding week last year, an increase of 
53,795 tons. The quantity of coal and coke 
carried over the Pennsylvania Railroad for the 
week ending January 7th was 184,818 tons, of 
which 129,103 tons were coal and 55,717 tons 
coke. The total tonnage for the year thus far 
has been 184,818 tons, .of wliich 129,103 tons 
were coal and 55,717 tons coke. These figures 
embrace all the coal and cok^ carried over the 
road east and west. The shipments of bitu- 
minous coal from the mines of the Cumberland 
coal region during the week ended January 
7 were 27,361 tons, and for the year to that date 
27,361 tons, a decrease o-f 5,358 tons. The ship- 
ments to Baltimore and Ohio Railroad ^ere, 
for the week, 20,360 tons ; for the year, 20,360 
tons; a decrease of 8,179 tons - compared with 
1881. The shipments to the Pennsj'lvania Rail- 
road were; for the week, 7,001 tons; for the 
year, 7,001 tons; an increase of 3,82Stonsas 
compared with 1881. The Reading Railroad 
shipment for last week, ending January 14th, 
was 157,800 tons, of which 36,500 tons were 
sent to and 21.000 tons shipped from Port 
Richmond, and 17,600 tons sent to and 21,400 
tons shipped from Elizabethport. — Phil. Led- 
ger^ Jan. 16. 

".'-'"]/'■ ^ 

The interest on the general mortgage bonds 
of the Philadelphia and Reading R. R. Co. due 
in July, 1881, will be paid on February 10th. 



1 -»■ 



.-to.- !--»...*■. *.i 



. f-^t^^afiu^^ 



..VC, JJ.W'i'^JPf.J!" W ii">J8»i!'i»5Wl!' 



38 




."?^^!^'f*-l'?~v^i*'^''>^.'vET- "■ • ~ ' 



v..> f'' ..' 



AMERICAN RAILROAD JOURNAL. 



'^'rt.^y^ 



Ne\v York Stock Exchange. 

, . (Thursday's quotations follow money article.) 
Closing Prices Jor the week ending Jan. 18. 

Th.l2. F.13.8at. U.M. 16. Tu.l7. W.18. 

Adams Express 146 >^ 119 149 148X 1*8 >i 

Albany and Susq.. 130 

Ist mortgage 124% 

2d mortgage 108 

American Express.. 93?^ 92>^ 9334 93% 94>^ 93% 

Atlantic k Pac. Tel 

Burl., C. B. &Nor., 
1st mortgage Ss.. 

Canada Southern . . 
1st mortgage guar 

Central of N. Jersey 

l8t mort. 1890 

7s, consol. ass 116 114 ?ii 115 116 

7s, convertible ass 115 

78. Income 102 103 103 '-^ 103 '4 103 ... 

Adjustment 108 108 108Ji 108 

Central Pacific 93»( 94 3i 91 s^ 91 91 J^ 



g-1 3/ 

100}^ ibb'}i iw]i ..... i66>i 

55Ji 65>i 55*^ 553^ 55>^ 

96 >i. 96 »i 96 >i 96% 96)^ 

92 93% 95 >^ 94% 94% 



55 >^ 
96% 

94% 



133% 134% 135 
102% 



134% 134% 134% 
102% ... 102% 



108% 
91 



gold. 



113% 113% 114 115 115 



25' 



134% 134% 135 



68. 

1st M. (San Joaq) 

1st M. (Cal. k Or.) 103% ..... 104 

Land grant 6r 

Chesapeake & Ohio. 25% 25 25^ 
Is, series B 81,^^ 81% 

Chicago and Alton. 132% 133% 133 

Preferred 

Ist mortgage 

Sinking Fund 112 

Chi., Bur. & Quincy 136 137 137 137 136% 136% 
7s, Consol. 1903.. 126% 127 126% 126*^ 

Chi., Mil. & St. Paul 108% 109% 109% 109 '4 109% 108% 

Preferred 121 121% 121% 122% 122% 

Ist mortgage, 8s 

2d mort., 7 3-108 

78, gold 

l8t M. (La. C. div) 121 118% 

IstM. L &M.div.) 

Ist.M. (L & D. ext.) 118% ... 119 

IstM. (H.&D.div.) 114 

lBtM.(C.&M.div.) 

ConsoUdated S. F. 119 .>... 119% 120 121% 121% 

Chi. & Northwestern 126 J4 127 127% 127 *,' 127% 127 

Preferred 139 140% 140 140 141 141 

let mortgage 

Sinking Fund 6s. 110% 110% 

Consolidated 7s 132 132% 132% 

Consol. Gold bo'ds 1-23% 124 124 

Do. reg 

Chi., R. Isl. & Pac. 133% 134% 134% 134% 134 

6a. 1917, c 124 125 125 

Clev.,Col.,Cin.&Ind. 82 83 84 83 82% 83 
1st mortgage 

Clev. & Pittsburg gr 137 

78, Consolidated 

4th mortgage .■ 

Col.,Chi.,&Ind.Cent. 21% 21% 21% 21% 21% 21% 

1st mortgage 125 

2d mortgage 

Del. k Hud Canal. 106% 107% 107% 107% 107% 107% 

Reg. 7s, 1891 

Reg. 78, 1884 104 103% 104 103% 

78, 1894 116% ... 

Del.,Xack.& Western 124% 125% 125>^ 124% 125% 125 

2d mortgage 78 

7s, Consol. 1907 

Erie Railway 

Ist mortgage 

2d mort. 5s, ext 

3d mortgage 106% 

4th mort. 58, ext 

5th mortgage 

7b, Consol. gold.. 129% 129% 130 130 

Great West. 1st mort 109 109% 105% 

2d mortgage 104% 

Hannibal & St. Jo.. 96 96>4 95% 96% 96J^ 96% 

Preferred 109% 109% 109% 110 109% 109% 

88, Convertible 108 109 109 

Houston k Tex. Can 86 

1st mortgage 

2d mortgage 142% 

Illinois Central... 132%' 133 

LakeShore&MichSo 114% 115 

Consol. 78 130 

Consol. 7s, reg 128 

2d Consolidated ^.126 

Leh. & W. B. 78; Con 

Long Dock bonds . . 120 

Louisville k Nash. 98 99 99%x 97 ^^ 97% 97 

78, Consolidated 122% 

Manhattan 49 60% 51 50 50% 

M«t. Elevated 88 

1st mortgage 100% 100% 101 101 101% 101% 

Michigan Central. . 88% 88% 89% 88% 89 89 

78, 1902 124 123 

Jf . S. & N. L Ist, 8. F 

Morns k Essex.... 121 122 123% 122% 

Ist mortgage 138 

2d mortgage 

7« of 1871 125 126 

78, Convertible . 

78, Conso' ^.^ated 124% 



N.Y.Cen. fcHud.R. 
6s,8. F. 1883..,. 
6s, S. F., 1887.... 

1st mortgage 133 .... 

let mortgage, reg. 133 

N.Y. Elevated 106 

1st mortgage... .116 116% 

N. Y. & Harlem 

Preferred 

Ist mortgage -. 

Ist mortgage, reg 

N. Y., Lake Erie &W 41 '4' 42% 12% 42% 42% 41% 

Preferred 82% 84?^ 84 83% 83 

2d Consolidated.. 99% 99% 100 99% 99% 99% 

New 2d 58 fund 96% 

N.Y..N.Hav'n&Hart 170 171 

North. Mo. Ist mort 120)4' 120% 

Northern Pacific... '35% 37 36% 
Prelerred 74 % 76% 76% 

Ohio* Mississippi. -37% 37% 37% 

Pretmrre'l 

2d mortgage 

Consolidated 7s 

Consol. S. Fund 117 

Pacific Mail S. S. Co 41% 42%- 42% 41% 41% 41% 

Pacific R. R. of Mo 

1st mortgage 108% 108% 109 109 

2d mortgage 112 Ji Ill 

Panama 



62% 



65 
117% 



63 

117% 



62% 



62 
117% 



N.Y. & New England 
7s 

Northern N.H 104 106 

Norwich* Worcester 156 

Ogden k Lake Cham , 

Preferred , 



126 



126 
62 



36% 
75% 

37 



121 

36 36 V4' 

75% 75% 

36% 37 



62% 61% 



Phila. & Reading.. 64% S4% 
Pitts.Ft.W.&Chi.gtd 134 

Ist mortgage 

2d mortgage 132% 

3d mortgage 



60% 
135 



59% 



133% 



61 Ji 
40 U 
58% 



Pullman Palace Car 

Quicksil'r Min'g Co 
Preferred 

St. Louis & San Fran 

Preferred 

Ist Preferred 105 

St. L., Alt'n & T. H. ... 

Preferred 

1st mortgage 

2d mort. prof 

Income bonds 

St. L., IronMt. &S .... 



133 

14 
61% 
41 
58% 
105% 



134% 

14% 
62 
42 
69% 
106 

43 
91 



135 



61 '4 



137% 143% 
61% "61% 



Old Colony 126% 125 

Ph.,Wil.&Balt.($50) 62 

Portl'd.Saco & Ports 

Pueblo & Ark Val 

78 116% 116% 116% 116% 117 

Pullman Palace Car 133% 133 134% 134 136>^ 140 

Union Pacific 118'^ 119% 119% 119 118% 

6s 114% 114% 114% 

Land Grant 78 

Sinking Fund 88. 120% 120% 

Vermont k Canada 

Vermont* Mass 143% 

Worcester & Nashua 58% 58 58% ... 

Cambridge (Horse) 

Metropolitan (Horse) 

Middlesex (Horse) 

Cal.&HeclaMin'gCo 250 250 250 245 

Quincy 55% 56 56 55% 55% 55 



120% 



106 

43% 

91 «4 



59% 
106% 

42 



*2% 



110% 111% 



133% 
115%' 



134% 134% 1363s 
114% 115 114% 



l8t mortgage 118 117% 

2d mortgage 

Toledo and Wabash 

1st mortgage 

2d mortgage 103 

7s, Consolidated.. 106 105 

St. Louis Division 118 

Union Pacific 117% 119 119 

1st mortgage 114% 115% 

Land Grant 7s 

Sinking Fund 88 123% 124 

United States Ex 77 

Wabash, St. L.& Pac 36% 37% 37% 

Preferred. 68% 70% 70% 

New mort. 78 

Wells-Fargo Ex 130 

Western Pacific b'ds 

Western Union Tel. 78% 79% 81% 
78,S.F.conv.,1900 

Fedebal Stocks :— 

U. S. 48, 1907, reg. . . 118 

U. 8. 48, 1907, coup. 118 118% 

U. S. 41.^8, 1891, reg. 114% 

U.S.4%s, 1891, coup 114% . 

U. S. 58, 1881, reg 

U. 8. 58, cont'd at3% 102% 
U. S. 68 cont'd at3% 100% 

Dt. of Col. 3-65s, reg 

Dt. of Col.3-65s,coup 



117% 
109 



105% 104% 



Philadelphia Stock Exchange. 

Closing Prices for the Week Ending Jan. 17. 

W.ll. Th.l2. F.13.Sat.l4.M.16.T».17 

Allegh'y Val. 7 3-108 120 .... 120 

78, Income 56 56% 57 58 

Camd'n & Am. 68, '83 

6s, 1889 

Mort. 68,1889.... 113% 113% 113% 113% 

Camden * Atlantic 

Preferred 33 

Ist mortgage 

2dm.ortgage 

Catawiasa 18 

Preferred 

7s, new 

Del. & Bound Brook 

78 

Elmlra&WiUiamsp't 

Preferred 




15 

29% 



28% 



119'^ 
115% 



119 
115% 



119% 

115% 



77 

37% 
70 



124 



37% 
70 



37 

69% 



130 

109% 
81% 



130% 



81% 81% 



118' 



102% 



Boston Stock Exchange. 

Prices for the Week Ending Jan. 18. 

Th.l2. F. 13. Sat.l4.M.16.Tu.l7. W.18 
Atch.,Top.&San.Fe. 95% 95% 96 95% 95% 96% 

Ist mortgage 119 119% 120 

2d mortgage 

Land Grant 7s 116% . ..... 

Boston & Albany... 163% 164 165 165% 165% 166 
78 reg 126% 

Boston and Lowell 103 105 104 105 

Boston* Maine 145 144 ,% 145 144% 147 

Boston* Providence 162 

Bo8'n,Hart.* Erie7s 67% 68% 68 67% 67% 

Burl.* Mo.R.L.G.78 

Burl.* Mo, R. in Neb 

68, exempt 115 

4s ;;;;; 

Chi. , Burl. &jQuincy 135% 136ii( 137% 137% 136% 136% 
78 



Hunt. * B. Top Mt. 14 15 14% 

eferred 28 

jage 

Lehigh Navigation. 43% 43% 43% 43% 43% 

6s, 1884 105% 

Gold Loan Ill Ill 

Railroad Loan 

Conv. Gold Loan 113 Ill 

Consol. Mort, 7s. 116% 117 116% 116% 

Lehigh Valley 61% 62% 62% 62% 62% 62% 

Ist mort. 68, coup , 121 

1st mort. 6s, reg 

2d mort. 78 134% 

Consol mort. 6s 117% 117 117% 

Consol.mtg.6s,reg ... . 117 117 

Little Schuylkill 55% 

Minehill&Sch.Hav'n 60 60 

North Pennsylvania 60 60 60 60 60 

1st mortgage 68 105% 

2d mortgage 7s 

Genl. mtg.78,coup 

Genl. mtg. 7s, reg 



35% 

74% 



50 ^i 
97 

35% 

74% 

61% 



50 
97 

36% 

74% 
62% 



50% 
97 

36% 

76% 

62% 



36% 
75% 
62 



15% 
61% 



Cin..Sand&Clev($50) 27% 28 28% 28% ... 

Concord ($50)... 

Connecticut River 

Eastern 

New 4% Bonds... 107 
Fitchburg , 



28 



105% 



37 
106 



37 36% 

10«% x06% 107% 



Northern Central.. 
58 

Northern Pacific . . . 
Preferred 

Pennsylvania R. R. ... 

1st mortgage 

cien'l mort 123 

Gen'l mort reg 

Consol. mort. 6s. 117 

Consol. mort. reg " 

Pa.State 68 2d series 

do 3d series 100 ' 

do 5s, new 116 

do 3s [\ 

Phila. & Reading... 33 32% 32% 31% 30. 30% 

Ist mortgage 6s ng 

78 of 1893 

7s, new convert . . 73 73 72% 73 

Consol. mort. 7s 125 125 . . . . 

Consol. mort. reg * 

Gen'l mort. 6s 98 98% 98;^ 98 97% 

Philadelphia & Erie 20 20 

Ist mortgage 5s.. 104% 104% '.* 

2d mortgage 78 114 

Pitt8b.,Cin.&St.L.78 122 

Pitt8..Titusv.&BufiF. 20% 20% 21 21 20% 20% 
78 101% 102% 

Schuylkill Navi't'n .; 

Preferred ' 

68,1872 

68.1882 89 .... 89 89 '.'.'.'.'. 

United Co. of N. J.. 183 183 183 184% 

Hestonville, (Horse) 

Chestnut* Wal.(do) 

rire«n *CMvte8(do) 



184 



[ 






AMERICAN RAILROAD JOURNAL. 



39 



Baltimore Stock Exchange. 

Closing Prices fw tht Week Ending Jan. 10. 

W. 11. Th.l2.F.13. Sat.l4.M.16.Tu.l7 

Baltimore & Ohio.. 195 

6s,1880 

68,1885 105Ji 

Central Ohio ($60) 

Ist mortgage 

Marietta & Cincin'ti 

Ist mortgage, 78 

2d mortgage. 78.. 105 105^ 105% 105 >^ 

3d mortgage, 88.. 59 59?i 59 >i 60 59>i 

Northern Cen. ($50) 50^ 50^ 

2dmort., 6sl885.. 106 ... 

3d mort., 6s, 1900 

68,1900, gold 113>,' 11-6^4 

68,1904, gold 113,'i 111>^ 

Orange & Alex. Ist ; 

2d mortgage, 68 

3d mortgage, 88 

4th mortgage, 88 

O-.Alex.&Manas's 78 

Pitt8.& Connell8v.78 121 

Virginia 68, Consol. 63?^ 65 64>i 64>^ 03^ 

Consol. coupons. . 6S 70 ..70 70^ 

10-40 bonds 39 39^ 

Defd Certificates. 17 

Western Maryland 14 

l8tM.,end.byBalt 

2dM., do 

3dM., do 

IstM-.unendors'd 

2dM:,,end.WashCo ,, 
2d M., preferred. . . . 



105 



City Passenger B B 41 



London Stock Exchange. 



Baltimore k Ohio (sterling) 114 

Cairo & Viencennes com. stock 36 
Do. preferred 5 per cent 90 

Central of N. J. $100 share 93 

Do. Cons. Mortgage 115 

Do. Adjustment Bonds 104 

Do. Income Bonds 104 

Det.,G'd Haven & Mil. Equip bd8ll2 
Do.Con.M..5p.c.,till'83aft'r6p.cllO 

Illinois Central $100 shares 134,'^ 

Lehigh Valley Cons, mortgage.. 115 

Louisville & Nashville mort 68.105 
Do. Sink. Fund bds (S.&N.Ala)103 
Do. capital stock $100 shares. 105 

N. Y. Cent. & Hud. B. mt. bds. .134 

Do. $100 shares 135 

Do mort. bonds (stg.) 123 

N.Y..Lake Erie & West., $100 shs 42 >i 
Do. 6 p. c. pref. $100 shares . . 87 
Do. Ist Con. Mort. bds (Erie) .131 
Do. do. Funded Coupon bds 
Do. 2d Consol Mort. bonds. . 
Do. do. Funded Coupon bds. 
Do. Gold Income bonds 95 

N.Y.,Pa.& Ohio 1st mort. bonds. 50 
Do. Prior Lien bds (sterling).. 104 

Pennsylvania, $50 shares 63 

Do. Con. Sink Fund Mort. . . .119 

Philadelphia k Beading $50 shs 35 

General Consol Mortgage 116 

Do. Improvement Mortgage. .103 
Do.Gen.Mtg.'74,ex-d(ird coup. '.>9 !-. 
Do. Scrip for the 6 def. 1^ coup. 95 

Pittsb. , Ft. W. & Chi. Eq. bds. ... 105 

St. L. Bridge Ist mort. gold b'd.l26 
Do. Ist pref. stock 102 

Union Pa. Land Grant 1st. mtg.115 



Closing 

Dec. 30. 
116 

38 

92 

98 
117 
109 
107 
114 
112 
135 >i 
119 
107 
105 
107 
137 
136 
125 

43 

89 
13? 
129 
104 
lOO 
100 

51 
108 

64 
121 

36 
118 
105 
100 >^ 
100 
109 
128 
104 
119 



Prices 

Dec. 23. 
114 116 



36 
90 
93 
115 
104 
104 
112 

no 



40 
92 
98 
117 
109 
107 
114 
112 



132 }i 133 >^ 
115 119 



105 
103 
102 
134 



107 
105 
104 
137 



136,'^ 137^ 
123 125 
42J< 43% 
91 93 



.127 
.102 
. 97 



130 

127 

101 

97 

95 



132 
129 
103 
100 
100 



45 >^ 46 >^ 
105 110 

62% 63 »i 
118 122 

33 V^ 34^2 
116 118 



103 
99 
95 
105 
126 
102 
115 



105 
lOf 
100 
109 
128 
104 
119 



AMERICAN RALLROAD JOURNAL. 



Financial and Commercial Review. 



Thursday Evening, Jan. 19, 1882. 

The quotation for call loans during the day 
on stocks was 4@5 per cent, and on Govern- 
ments 2@3 per cent. In the last hour the rate 
to the stockbrokers for call loans fell to 3 per 
cent. 

The posted rates for prime banksrs' sterling 
were 4.83^ and 4.87i The actual rates were 
4.82^@| and 4.86^@|, with cable transfers 
4.87^@4.87|, and prime commercial bills 4.81 
@4.82. The actual rates for continental bills 
are as follows : francs, 5.18J@f and 5.23J@ 
I; marks, 94J@| and 95J@| and guilders, 
39| and 40|. 

(The Illinois Central Railroad Company has 
declared its regular semi-annual dividend of 3^ 



per cent, payable March 1. The company's 
annual report is not yet completed, but we are 
informed that it will show that the net earnings 
for 1881 not only provided for interest on the 
debt and 7 per cent on the capital stock, but 
also for about $950,000 betterments, including 
a large elevator of Cairo, additional equipments 
and real estate and docks at Chicago. * 

The Legislature of Arizona last j'ear author- 
ized the publication of a book that should give 
authentic information concerning the resources, 
the history and the future prospects of that 
Territory. Mr. Patrick Hamilton was appoint- 
ed as a Commissioner for that work, and under 
his authorship a valuable pamphlet full of in- 
formation desired by investors and settlers has 
been produced. We give elsewhere an extract 
from theis publication on the Railroads of Ari- 
zona. 

The report of the President of the Buffalo, 
Pittsburg and Western Railroad Co., which was 
presented at the annual meeting of the stockhold 
ers held in Philadelphia on the 9th inst., after 
explaining the impossibility of preparing an 
accurate financial statement in the first week of 
the new year, says the gross receipts upon the 
same mileage as in 1880 were about $23,000 
greater than in 1881; that for the previous year 
the net earnings for the first three months of 
the 5'ear were less than for the same period in 
1880, owing to the increased expenses conse- 
quent upon the unusually severe Winter, but 
the net earnings for the last nine months were 
in excess of those for the last half of 1880, and 
were more than sufficient to meet the interest 
on the bonded debt for that time. The pas- 
senger traffic was laiger than for the previous 
year, and would hsCve been still greater were it 
not for a lack of equipment. The line to Buf- 
falo and Salamanca will be finished early in the 
Spring. In April the Newcastle and Franklin 
was bought in for $850,000, and reorganized as 
the Newcastle and Oil City Railroad, with a 
capital of $150,000 common and $450,000 pre- 
ferred stock, and $600,000 first mortgage bonds, 
all of which the company holds in its treasury. 
The expenditures for improvements thus far 
have been $50,000. The mines alreadj' opened 
on the branch near Jackson Centre are pro- 
ducing bituminous coal of a superior quality 
at the rate of 200,000 tons a year, with a'capac- 
ity of three times as much. The Buffalo and 
Baltimore is a new company formed in the in- 
terest of this road to build a line from Newcas- 
tle to Chicago Junction, under joint traffic 
guarantees from this road and the Baltimore 
and Ohio. The Newcastle and Oil City Rail- 
road is be extended to Oil City, and it is pro- 
posed to offer to the stockholders of this com- 
pany the right to subscribe upon favorable 
terms for the securities necessary for its con- 
struction; the reorganized road will ultimately 
be merged into the parent company. Con- 
tracts have been signed with the New York, 
West Shore and Buffalo, and the Buffalo, New 
York and Philadelphia Railroad Companies for 
extensive terminal facilities at Buffalo, and for 
a line from Chicago Junction by way of Oil 
City to Buffalo. 

The issue of District of Columbia 3.65s is 
limited by law to $15,000,000. The amount is- 
sued to date is $14,468,350. The stocks and 



bonds now outstanding on which interest has 
ceased, and for the payment of the principal 
and interest of which there are funds deposited 
in the United States Treasury amount to $5,- 
500.68. 

The Grovemor of Connecticut, in his second 
annual Message, delivered on the 4th inst., -;ays 
that the State receipts last year were $1,722,160 
01 the expenses $1,509,855.28, and the balance, 
$212,304.74. Of the State debt $877,000 comes 
due at the end of the current year and he ad- 
vises paying it from funds in the Treasury. 

The report of the Railroad Commissioners 
of Iowa for the year ending June 30, 1881, 
states that the capital stock representing the 
railroads of that State is $103,905,021, or $19,- 
149 per mile. The debt of all these lines is 
$110,766,483, or $20,413 per mile. Both stock 
and debt is $214,671,504, or $39,563 per mile. 
The reported cost of these roads is $173,998,- 
790, or $40,672,814 less than the reported stock 
and debt. The entire ejimings for the yea* 
were: from passengers, mail and express, $6,- 
757,877.43 ; from freight and miscelLineous, 
$21,694,304.48-total, $28,452,181.91, against 
$24,837,545.35 for the previous yoar, an increase 
of $3,614,636.56. The operating expenses dur- 
ing the year ending June 30, 1881, were $16,- 
788,404.39, against $13,982,653.77 during the 
previous year, an increase of $2,805 750.62. The 
net earnings for the year ending June 30, 1881, 
were $11,663,777.52, against SIO. 854, 801. 58, for 
the previous year, an increase of $808,885.04. 
The gross earnings per mile of road were $5,- 
396.46, the expenses $3, 246. 85 and the net earn- 
ings $2,149.61. Eleven roads show an excess 
after deducting operating expenses, rentals, 
interest and taxes, of $6,879,209.40, while seven 
roads show a deficit of $205,046.47 leaving the 
net income $6,674,162.93, which would give an 
average of net earnings for stockholders per 
mile for all roads in the State, $1,230.93. There 
are 2,190 miles of steel rail and 3,275 miles of 
iron in Iowa. On the 30th of June last there 
were 5,426 miles of road in operation in that 
State and over 900 miles partially constructed, 
which will certainly be completed in another 
season, when the total will foot up over 6,300 
miles. Total freight moved for the year over 
9,000,000 tons. 

From the report of the St. Louis, Vandalia 
and Terre Haute Railroad Company, which was 
presented at the annual meeting of the direct- 
ors held on the 10th inst., we learn that the 
gross earnings for the year ending October 31, 
1881, were $1,565,515.04, of which the compa- 
ny received 30 per cent as rentil from the les- 
see, amounting to $469,654.50 ; to which add 
bundry amounts of interest received, $169.90 — 
making the total income $469,824.50 ; from 
which was paid $34,111.43 for taxes and gen- 
eral expenses, and $314,930 for interest on first 
and second mortgage bonds, leaving a surplus 
for the year of $120,782.97. This surplus was 
applied to the payment of $10,003,28 on account 
of suspended taxes, and $110,779.69 toward the 
liquidation in part of the previous balance to 
the debit of profit and loss. The loss to the 
lessee in operating the road was $281,081.15, 
of which $103,223.09 was on account of addi- 
tions and permanent improvements to the road. 
According to the annual report of the Com- 



;iias'-*ii^..',> -*,, 



I. iwr^S^"'. 



40 



AMERICAN RAILROAD JOURNAL. 



missioners of Railroads, the total number of 
miles of track in the State of Massachusetts is 
3,148 an increase of 103 miles over last year. 
The aggregate capital stock is $122,155,614, an 
increase of $3,416,742 ; net debt of all compa- 
nies, $64,850,890, an increase of $5,678,370 ; 
gross income, $37,764,395, an increase of $2,- 
624,021; net income, $10,701,751, a decrease of 
$490,000 ; freight earnings, five per cent more 
than last year; passenger earnings;, eight per 
cent increase. 1 r 

The approximate earnings of the Flint and 
Pere Marquette Railway for the year 1881 were 
$1,858,256.65, again.st $1,596,950 for the year 
1880, an increase of $261,306.65. There were 
hauled during 1881 on this road 105,296,530 
feet of pine logs against 87,475,516 feet for 1880. 
The construction expenses of the road from 
Oct. 1, 1880, to Nov. 30, 1881, were $1,239,480 ; 
11 locomotives, 5 sleepers, 13 passenger cars, 3 
drawing-room cars and 600 freight cars have 
been added to the equipment. Over 60 miles 
of steel rails have been laid, and over 30 miles 
of new line constructed, including the Otter 
Lake Extension, 6 miles, and the Manistee 
Branch, 26 miles. Considerably over $100,000 
was expended during the year for improve- 
ments at East Saginaw, including a new ma- 
chine shop and passenger depot. Two new 
propellers, to cost $60,000 are to be delivered 
to the company the present year, to run be- 
tween Ludington and Milwaukee. 

The earnings of the Delaware Railroad for 
the year ending October 31, 1881, were $428,- 
747.24, of which $260,588.79 was from freights 
—decrease of $9,059.19, and $157,560.62 from 
passengers— an increase of $11,201.85; $300,123; 
07 operating expenses, or 70 per cent of earn- 
ings, as by agreement with the lessee company 
(the Philadelphia, Wilmington and Baltimore); 
interest and dividends paid by lessee, $729,480 
06. The decrease in earnings from freight was 
due entirely to the failure of the peach crop. 

We give elsewhere the 107th call of the Sec- 
retary of the Treasury for the redemption of 
bonds. It is for twenty millions of extended 
sixes, and the principal and accrued interest 
will be paid on the 13th of March, the interest 
ceasing on that day. |, | 

The closing quotations on Thursday were : 
Adams Express, 147@149; American Express, 
93J@94 ; Chicago, Burlington and Quincy, 137 
@137J; Canada Southern, 55@55^; Chicago and 
Northwestern, 127j@127|; do. pref,, 139J@140; 
Chicago and Alton, 13^@13^ ; Central of New 
Jersey, 96@96^; Central Pacific, 90|@90i; Chi- 
cago, Milwaukee and St. Paul, 108|@109 ; do. 
pref., 122@122|; Cleveland, Columbus, Cincin- 
nati and Indianapolis, 81^@83; Columbus, Chi- 
cago and Indiana Central, 20|@20|; Delaware 
and Hudson Canal, 107|@,107|; Delaware, Lack- 
awanna and Western, 125@125^ ; Hannibal 
and St. Joseph, 95|@96J; do. pref., 108|@109; 
Illinois Central, 135|@135J ; Lake Erie and 
Western, 35@36J ; Lake Shore and Michigan 
Southern, 114|@llo ; Metropolitan Elevated, 
87i@89 ; Manhattan Elevated, 50@51 ; Mich- 
igan Central, 88t@88J ; New York Elevated, 
106@107 ; New York, Lake Erie and Western, 
41|@42 ; New York Central and Hudson 
River, J34f@134|; Northern Pacific, 36@36^; 
do. pref., 74|Q^75; Ohio and Mississippi, 36|@ 



@36J ; Panama, 195@198 ; Pacific Mail, 4H@ 
41 1 Texas and Pacific, 50|@50^ ; Union Pacific. 
119^@119| ; United States Express, 77@78 ; 
Western Union Telegraph, 82@82J ; Wabash, 
St. Louis and Pacific, 36^@36| ; do. pref., 69^ 
@69| ; Wells-Fargo Express, 1 29@ 130. 

The following quotations of sales of Railway 
and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 

New York. — Atchison, Colorado and Pacific 
Ist, 98 ; Atlantic and Pacific 1st, 98 ; Boston 
and New York Air Line pref., 62; Buffalo and 
Erie 7s, new, 122 ; Cairo and Fulton 1st, 111 ; 
Chicago, Milwaukee and St. P:\ul, S. M. div. 
Ist, 104J ; do. La C. and'Dav. div. 1st, 95 ; 
Chicago, St. Paul, Minneapolis and Omaha, 
36 ; do. pref., 101 J^ ; do. consol., 100 , Central 
Iowa, 35 ; do. 1st, 115J ;Cedar Falls and Min- 
nesota, 20 ; do. 1st, 112; Chicago, St. Louis and 
New Orleans, 81 ; Chesapeake and Ohio 1st 
pref., 37|; do. 2d prel.. 26!^ ; do. 1st Series B, 
82| ; do. cur. int., 53 ; Chicago, St. Paul and 
Minneapolis 1st, 112 : Chicago and Milwaukee 
1st, 122 ; Chicago, Burlington and Quincy 8s, 
108 ; Columbus, Chicago and Indiana Central 
Income, 74; do. Ist, Trust Co. certif. ass. sup., 
120; Chicago and Alton Inc., 103; Denver and 
Rio Grande, 73 ; do. 1st, 114 ; do. 1st consol., 
105i ; Denver, South Park and Pacific 1st, 103|: 
Detroit, Monroe and Toledo 1st, 125 1 ; East 
Tennessee, Virginia and Georgia, 15} ; do. 
pref., 26; do. 1st, 114; do. inc., 58 ; do. 5s, 79|: 
Evansville and Terre Haute 1st, 98, Green Bay, 
Winona and St. Peter, 15J ; Georgia R. R. and 
Bank, 165; Galveston, Harrisbui^ and San An 
tonio Isf, 106 ; Gulf, Colorado and Santa Fe 
1st, 107; Hudson River 2d S. F., 110 ; Indiana, 
Bloomington and Western, 47|^ ; do. 1st, 91 ; 
Indianapolis, Decatur and Springfield, 42 ; do. 
1st, 105; Joliet and Chicago, 140; International 
and Gt. Northern 1st, 107 J ; do. 2d inc. ass., 
90; Kansas Pacificist consol., 103|; do. Denver 
div. 6s, ass., 108 J ; Lake Erie and Western, 
36 J ; Long Island, 51^; Lafayette, Bloomington 
and Mxincie 1st, 103 ; Louisville, New Albany 
and Chicago, 74; do. 1st, 101 ; Louisville and 
Nashville geni mort. 68, 102; Lake Shore divi- 
dend bonds, 124; Lehigh and Wilkesbarre con- 
sol. ass., 108} ; Louisiana and Missouri River 
1st, 119 ; Minneapolis and St. Louis, 20 ; do. 
pref., 60}; do. 1st, 115; do. 1st, Iowa Ext., 110} ; 
Missouri,. Kansas and Texas, 38 ; do. consol. 
7s, 107^; do. gen '1 mort. 6s, 83}; Missouri Pa- 
cific, 102| ; do. 1st consol. ; 104 ; Memphis and 
Charleston, 81 ; Milwaukee, Lake Shore and 
Western, 51; Mobile and Ohio, 34 ; do. 1st 
deben., 96;'Marietta and Cincinnati 1st pref., 
15 ; do. 2d pref., 9; Manhattan Beach, 27| ; 
Metropolitan Elevated 2d, 89J ; New York, On- 
tario and Western, 27^; Norfolk and Western, 
20; do. pref., 57 J ; do, Gen'l mort., 103 ; Nash- 
ville, Chattanooga and St. 'Louis, 86; do, 1st, 
115} ; New Orleans Pacific 1st, 90 ; Northern 
Pacific 1st, 99; Ohio Central, 25 ; do, inc., 48; 
do. Ist, 97} ; Oregon Railway and Nav., 137^ ; 
do. 1st, 106; Ohio Southern, 23^; do, inc., 45J; 
do, 1st, 92 ; Peoria, Decatur and EvansviUe, 
36|; Rensselaer and Saratoga, 140; do, Ist, 133; 
Rochester and Pittsburg. 28 J ; do. inc., 40 ; 
Rome, Watertown and Ogdensburg, 21 i ; do. 
1st consol,, 91 ; Richmond and Allegany, 36 ; 
do. l^t, 98i ; Richmond and Danville, 197}; 



■;.. » 



do. 1st, 102|; Syracuse, Binghamton and New 
York 1st, 123; St. Paul and Sioux City 1st, 110; 
St, Louis, Jacksonville and Chicago 1st, 119 ; 
St, Paul Minneapolis and Manitoba, 115 ; do, 
1st, 109^; do, 2d, 106; St, Paul and Duluth, 30; 
do, pref,, 70; St. Louis, Kansas City and North- 
em, Omaha div. 1st, 113^ ; St, Louis afid Iron 
Mountain 5s, 84 J ; do, Arkansas Branch 1st, 
110; St, Louis and San Francisco 2d, Class B, 
92; do, C, 90^ ; South Pacific of Missouri 1st, 
103J ; Southern Pacific of California Ist, 104J; 
Scioto Valley 1st, 97 J ; Toledo Delphos and 
Burlington, 16; Texas and Pacific, 50} ; do, inc. 
L. G,, 74}; do, 1st, 107 ; do, Ric Grande div. 
1st, 90 ;Texas Central 1st, 106 J ; Toledo, Peoria 
and Western 1st, 110 ; Wabash, St, Louis and 
Pacific, Gen'l mort. 6s, 88^ ; do, Chicago div. 
1st, 84 J ; do, Havana div., 96 ; Alabama, Class 
C, 81 1 ; Georgia 78, gold, 118A ; Lotiisiana 7s, 
consol, 67} : Missouri 6s, 1888, 108J ; do, 68, 
1887, 107J ; do, 6s, 1886, 106i ; North Carolina 

6s, S, T., 3d class, 7f ; do, consol. 4s, 84; South 
Carolina 6.s, non-fund., 10}; Tennessee 6s, old, 
76; do. new. 75.]; Sutro Tunnel, 1; Con.sol. Coal, 
34^ ; Colorado Coal and Iron. 44 ; do. 6s, 90 ; 
New Central Coal, 20; Pennsylvania Coal, 240; 
Caribou, 2^ ; Homestake, 15^; Little Pittsburg, 
1|; La Platta, 9}; Ontario, 34^ ; Robinson, 2f ; 
Standard, 16. 

Philadelphia.— AmencRu Steamship Co. 6s, 
106J ; Central Transportation, 35 ; Erie and 
Western Transp, Co.,55; Huntingdon and Broad 
Top Mt. consol. 5s, 89 ; Nesqueh. ning Valley, 
57 J ; New Orleans Pacific 6s, 91}; Oil Creek 
1st, 100.\; Philadelphia and Reading deben. 6s, 
65 ; do. scrip, 81 1 ; Philadelphia, Wilmington 
and Baltimore 4s, 96 ; Pennsylvania Company 
4Js, 95 J ; Schuylkill 6s, 1895,* 55; St. Pari and 
Duluth pref., 71 ; Texas and Pacific consol. mort. 
6s, 99|; do. Ist mort. 107; do. 1st mort. 6s, Rio 
Grande div. 90; Union and Titusville 7s, 103; 
Western Pennsylvania 6s, 104. The latest quo- 
tations are : City 6s, — ©118 ; do. free of tax, 
126(5^132; do. 4s, new, 102@109 ; Pennsylvania 
State 6s, 3d series, 100@101 ; do. 5s, new 
'oan. 115(^^116} ; do. 4s, new, 107@111 ; Phil- 
adelphia and ReadiugR. R., 30|@30^; do. con- 
sol. mort. 7s, reg., 124^@125 ; do. mort. Gs, 
1170121 ; do. gen'l mort. 6s, coupon, 98!|@99; 
do. 7s, 1893, 118@125 ; do, new, conv,, 73@77; 
United New Jersey R, R, and Canal, 184@ 
185; Buffalo, Pittsburg and Western, 20|@20^; 
Pittsburg, Titusville and Buffalo 7s, 102|@103 ; 
Camden and Amboy mort, 6s, 1889, 113}@114 ; 
Pennsylvania R, R., 62f@62J; do, general mort. 
reg., 123i@— ; do, consol, mort, 6s, reg., 119J 
@124 ; Little Schuylkill R, R, 55|@55i ; Mor- 
ris.Canal, 65@.75; do, pref,, 165@169J;Schuyl. 
kill Navigation, 5^06 ; do, pref., 12^@13} ; 
do, 6s, 1882, 88^@89^; do, 1872, 107@108; El- 
mira and Williamsport pref,, 58@60 ; do, 6s, 
113@— ; 95@ do, 5s, 95—; Lehigh Coal and Nav- 
igation, 43|@— ; do, 6s. 1884, --@105| ; do. 
R. R, loan, 116|@117} ; do. Gold Lo.m, 112 
@112} ; do. consol. 7s, 116^(^117 ; Northern 
Pacific, 36J@36i ; do. pref., 75|@75 ; North 
lennsylvania, 59^@60J ; do. 6s, 105@105J ; 
do. 78, 123^ @— ; do. General mort. 7s, reg., 
119J@124 ; Philadelphia and Erie, 7s, 113f@ 
114} ; do. 5s, 104^@105i- Minehill, 60@60} ; 
Catawissa, 18@19 ; do. pref., 53@53} ; do. new 
pref., 50i@53} ; do. 7s, 1900, 120@— ; Lehigh 
Valley 62}@62f ; do. 68, coupon, 120@121 ; 



-v»>.. 



AMERICAN RAILROAD JOURNAL.* 



41 



do. reg., 121i@122J ; do. 2d mort. 7s. 134J@ 
134| ; do. consol. mort. 116J@118 ; Fifth and 
Sixth streets fhorse>, U9@150 ; Second and 
Third, lliJ-^^'Si^-, Thirteenth and Fifteenth, 
79|@80i ; Spruce and Pine. 47^^49 : Green 
and Coates, 99@100 ; Chestnut and Walnut. 94 
0x^95',; Germantown, 60@70; Union, 110@12o ; 
West Philadelphia, 110@112 ; People's 13^@ 
15J ; Continental. 100@104. 

^a/ftmorc. —Atlanta and Charlotte, 82 J ; do. 
1st, 110 ; Baltimore City 6s, 1890, 114^ ; do. 
6s, 1836, 106 ; do. 6s. 1900, 128 ; do. 5s, 1916. 
I20i ; do. 5s. 1900. 118; do. 5s, 1904. 115^; do. 
4s, 1920, 112 ; Canton 6s, gold, 108^; Columbia 
and Greenville 1st, 103^ ; Consolidation Coal, 
36 J ; Chesapeake and Ohio Canal, 38 ; Ohio and 
Mississippi, Springfield div. 1st, 122^ ; Richmond 
and Danville, 191 ; do. gold bonds, 103 ; Rich- 
mond and Alleghany, 38^ ; South Side (Va. ) 2d 
6s, 101 J ; Virginia Midland, 75 ; do. 1st pref., 
i20 do. 2d mort., 110; do. 3d mort. 95; do. 5th 
mort., 98 J ; Vitt;inia Black scrip. 32 ; Virginia 
Peelers, 39J^ ; do. Peeler coupons, 38^. The 
latest quotations are : Atlanta and CharlotLt, 
82@82^ ; do. 1st. 109^-@110 ; Baltimore City 
6s. 1884. 104@104^ ; do. 6s. 1890. 114}@115 ; 
do. 5s. 1900. — @118}; do. 5s. 1916. 120.^@ 
120}; Baltimore and Ohio. 195@200 ; Central 
Ohio 1st, 110^@112 ; Canton 6s, gold, 108i@ 
108J; Columbia and Greenville 1st, 103|@i03^; 
Marietta and Cincinnati 1st mort., 124i{@1252; 
do. 2d, 105i@105^ ; do. 3d, 59@59.V ; Northern 
Central, 49|@50j'; do. 6s, 1900, gold. 113@— ; 
do. 6s, 1904. gold. 111|@— ; do. 5s. 1926. 96^ 
@ — ; Norfolk and Western pref., 57@ — ; Pitts- 
burg and Connellsville 7s, 120i@121: Richmond 
and Danville, 195i@-; do. lst,gold, li)2^@103; 
Virginia Midland 5th mort., 96@98^ ; Virginia 
consols., 63^@64; do. 10-40s.39|@ — . 

Boston. — Atlantic and Pacific 6s, 97 J ; do. 6s. 
Income 31| ; Atchison, Topeka and Santa Fe 
plain 4^s, 93 ; Boston Land. 8^ ; Boston Water 
Power. 6} ; Burlington and Missouri River in 
Nebraska 6s. non-exempt, 103g ; Chicago, Bur- 
lington and Quincy 5s, 105 ; do. plain 5s, 1901, 
lOi^; do. 4s, old, 88 ; do. 4.s, Denver ext., 37^ ; 
Connotton Valley, 19; do. 7s, 90; do. 7s. Straits- 
ville div., 75 ij- ; Chicago and West Michigan, 
80 ; do. 5s. 95; Cincinnati, Sandusky and Cleve- 
land 7s, 102^ ; Central of Iowa, 34| ; do. 2d 
pref., 50 ; Chicago, Milwaukee and St. Paul, 
Dubuque div. 6s, 104; Flint and Pere Marquette, 
24|; do. pref., 95^ ; Iowa Falls and Sioux City, 
84^ ; Kansas City, Topeka and Western 7s, 118; 
Kansas City, Fort Scott and Gulf. 80 ; do. 7s. 
112; Kansas City. St. Joseph and Council Bluffs 
1st, 119; Little Rock and Fort Smith, 61 ; do. 7s, 
112 ; Massachusetts Central 6s. 94^ ; Marquette. 
Houghton and Ontonagon. 63 ; do. pref., 119 ; 
Mexican Central blocks, new, 94; do. old, 110; 
do. 7s, 86 ; New York and New England 6s, 
107 J; New Mexico and Southern Pacific 7s, 115 J ; 
Northern Pacific 6s, 98| ; Nebraska R. R. 7s, 
115; Ogdensburg and Lake Champlain Inc., 47; 
Rutland, 4 J; do. pref., 27; do. 6s. 101 J; Repub- 
lican Valley 6s, 103 ; Sonora, 27 ; do. 7s. 89^ ; 
do. block. No. 3. 150; Toledo, Delphos and Bur- 
lington. 7^ ; Wisconsin Central. 20| ; Wiscon- 
sin Valley 7s. 114 ; Allouez Mining Co., 3f ; 
Atlantic. 19 ; Blue Hill. | ; Brunswick Antimo- 
ny. 12 ; Copper Harbor. 4^ ; Copper Falls. 4 ; 
^^^3 ' ■^*' franklin. 14i; Harshaw.4 ; Huron. 
^|; Napa consol. Quicksilver, 7 ; National, 3| ; 
Osceola. 34|; Pewabic, 17; Phoenix, 2^ ; Silver 
Islet, 20; SuUivan. 2^. . 



Forfeiture of Railroad Lands. 

A JOINT resolution was introduced in the 
House of Representatives at Washington on the 
11th inst. to declare certain lands heretofore 
granted to railroad companies forfeited to the 
United States and to restore the same to the 
public domain, and open the same to settlers 
A schedule which is appended to the resolution 
enumerates the following railroads, together 
with the estimated quantity of land granted to 
each : 

Name of Railroad : Acres. 

Gulf and Ship Inland * 652.800.00 

Alabama end Florida 419..V20.00 

Ooosa and TenueHsee 132,480.00 

Mobile and Girard 840.8iO.00 

Coosa and Chattanooga 150,000.00 

Alabama and Chattanooga, formerly North- 
east and Southwest Alabama and Wills 

Valley railroads 897,920.00 

Pensacolaand Georgia 1,568,729.87 

Florida. Atlantic and Gulf Central 183, 153.99 

North Louisiana and Texas, formerly Vicks- 

burg. Slireveport and Texas Railroad... 610,880.00 

New Orleans, Baton Rouge and Vicksburg 3.800,000.00 

St. Louis and Iron Mountain 640.000.00 

Little Rock and Fort Smith 1.0ii9,296.34 

Detroit and Milwaukee 355,420.00 

Houghton and Ontonagon, formerly Mar- 
quette and Ontonagon 552,515.24 

North Wisconsin, formerly St. Croix and 

Lake Superior and branch to Bayfield . 1,408,455.69 
Wisconsin Central, formerly Portage, Win- 

nebargo and Superior 1,800,000.00 

St" Paul and Pacific, St. Vincent extension, ^ , 
formerly branch to Hed River of the 

North 2.000.000.00 

St. Paul and Pacific, Brainerd branch, 

formerly braneh to Lake Superior 1,475,000.00 

Hastings and Dakota 550,000.00 

Oregon Central 1,200.000.00 

Atlantic and Pacific 42,000,000.00 

Texas Piciflc 18.000,000.00 

Northern Pacific 47,000,000.00 



Electricity in Railroad Carriages. 



Redemption of Bonds. 



The following is the text of the one hundred 
and seventh call for the redemption of bonds 
of the loans of July 17 and Aug. 5, 1861, con- 
tinued at 3^ per cent from July 1, 1881, issued 
on the 12th inst. : 

Treasury Deparement, ) 
Washington, DC, Jan. 12, 1882. \ 

By virtue of the authority conferred by law 
upon the Secretary of the Treasurj', notice is 
hereby given that the principal and accrued in- 
terest of the bonds hereinbelow designated, 
will be paid at the Treasury of the United 
States in the city of Washington, D. C, on the 
13th day of March. 1882. and that the interest 
on said bonds will cease on that day. viz : Reg- 
istered bonds of the acts of July 17 and Aug. 5. 
1861, continued during the pleasure of the 
Government under the terms of the circular 
No. 42, dated A.pril 11, 1881, to bear interest at 
the rate of 3i^ per cent per annum from July 1, 
1881, as follows : $50, No. 1,851 to No. 1.950. 
both inclusive ; $100. No. 13,001 to No. 13,700. 
both inclusive ; $500, No. 9,601 to No. 10,000, 
both inclusive ; $1,000. No. 47.001 to No. 48.- 
900. both inclusive ; $5,000. No. 16.001 to No. 
16,150. both inclusive ; $10,000, No. 30.101 to 
No. 32.550. both inclusive ; total, $20,000,000. 
Many of the bonds originally included in the 
above numbers have been transferred and can- 
celed, leaving outstanding the amount above 
stated. 

Bonds forwarded for redemption should be 
addressed to the " Secretary of the Treasury, 
Loan Division, Washington, D. C," and all the 
bonds called by this circular should be assigned 
to the " Secretary of the Treasury — For re- 
demptior." Where checks in payment are de- 
-ired in favor of any one btit the payee the 
bonds should be assigned to the " Secretary of 
the Treasury — For redemption for account of 

," (here insert the name of the person or 

persons to whose order the check should be 
made payable.) 

, , ..... Chas. J. FoLGEB, Secretary. 



An interesting and successful experiment in 
lignting railway carriages by electricity has just 
been made in England. Th6 train was the 
Pullman Limited mail, consisting of four cars, 
running between London and Brighton. The 
lamps were Edison's incandescent lamps, of 
which altogether 29 were used. As the train 
entered Box hill and other tunnels on the 
Dorking, Horsham and Steyning route, b}' 
which the trip to Brighton was made, the cars 
were simultaneously, and by the mere turn of 
a handle, brilliantly lighted, and as quickly, 
when the train emerged, the light was turned 
off. On the return journey the cars were light- 
ed all the way from Brighton to Victoria, the 
lamps burning with a steadiness undisturbed 
by the motion of the train. The electricity 
was supplied by Faure accumulators, of which 
80 were carried. Mr. W. Lachlan, the engineer 
representing the Societe La Force et La Lu- 
miere, who wbs in charge of the batteries, re- 
ported that but 30 were brought into use on 
the down journey, and only a portion of the 
electricity stored in these was expended. On 
the up journey these and four fresh boxes were 
brought into operation. For the present the 
accumulators are chargetl each evening with a 
dynamo machine worked by a small stationary 
engine. It is expected, however, that before 
long the electricity required will be generated 
on the train itself, the chief practical difficulty 
in the way of this saving of force arising from 
the unavoidable alterations in the speed of the 
train — a mechanical difficulty which the in- 
genuity of the electrical engineers will no doubt 
overcome. 



Revolutions in liocomotives. 



Inventors have shown a disposition of late 
to depart altogether from the old and seeming- 
ly well established general form of locomotive 
engines. A great many changes have been 
made in the details of locomotive construction 
since its early days, but the machine itself still 
remains the same in general appearaince. The 
Wooten dust burning engines present a some- 
what different form, and the Fontaine, with its 
main driving wheels and most of the machinery 
above the boiler, is still more novel in the ar- 
rangement of parts, though most of the outline 
remains the same. Another new locomotive — 
Dr. Raub's— does not at all resemble the ordi- 
nary locomotive, except that it has wheels and 
a cow catchtT. The boiler or boilers extend 
from end to end. The smoke stack, steam 
dome, cylinders and driving gear are all in the 
centre, grouped' together under the cab. The 
purpose of this construction is to get the centre 
of gravity in the centre of the base formed by 
the driving wheels, and to put the motive 
power also in the centre. If one of Dr. Ranb's 
locomotives should be cut in four quarters, 
each quarter would be exactly like the other 
quarters in form and weight. ^Vhether these 
new forms are practically better than the old 
remains to be proved by actual work, but it is 
a good thing for inventors to get rid of the 
notion that they are bound to follow closely an 
adopted form or system while seeking to make 
improvements. Habit, custom, prejudice are 



■.\,Sikiiu^.-\^i-^;. 



'W. ""!' 4-frr>s.'*.. 



42 



^y'TT-.-^T r^i^^'!** V'^^^f-^v'. 



■■■yp^-< /v^. 



AMERICAN RAILROAD JOURNAL. 



mm 



so mftny dead weights on inventive genins. 
They should not enslave the mechanic, how- 
ever, though he, more than anyone else, needs 
to know what has been accomplished, and 
why certain forms have been adopted. 
-^ 

A Texas Mother-In-La-w. 



SEAJICHING FOB A SPINDLE-SHANKED, GOGKILE-ETED 
PRODIGAX, SON. 

A TAi,L, woman, wearing a sun-bonnet, came 
into the oflfice of the chief of police, and, sit- 
ting down hard on a bench, wiped her nose, 
snapped her eyes at the chief, and asked, in a 
voice that reminded one of the sharpening of a 
saw: 

'* Be you the galoot what locks folks up?" 
"I regret to say that I am occasionally 
obliged to resort to such extreme measures with 
!. refractory persons." i ~ 'I 

" I know all that; but be you the galoot ?" 
; . " Yes madam." j 

" Why didn't you say so when I asked you?" 
♦ "I did." 

" You didn't, sir ; and if you don't treat me 
like a lady, I'll fold you up and sit down on 
you," and she snapped hereyes some more like 
\ ■ :;■ aterrier. . ^;^^-. -,.1 .; / ! 

T— ^ "What do you want?" asked the official, 

looking as if he needed reinforcements right 
away, and plenty of them. 

"I want that dirty little whelp what married 
my darter. I want to talk to him on business, 
but he evades me. If I could only get a chance 
•' /. to caress him once more !" and she breathed 

hard and gritted her teeth, until the official 
felt in his pocket for a police whistle. 
" "What did he do?" '1 

■ " He told my darter that he would give 320 

acres of land, with a gold mine on it, to any- 
body who would ampertate my jaw with a boot 
', jack. He said my mouth was like the gate at 

the Fair Grounds. " 
w "He meant, I suppose, it was never shut. 

I don't see how he ever came to make such a 
• ridiculous comparison as that. Did you ever 
remonstrate with him ?" 
,. "You bet I did. I drawed him across the 

;: kitchen table by the hair with the one hand, 

while I basted him with a long-handled skiUet, 
and you should have heerd him calling me 
• mother darling' and ' pet,' but Providence was 
agin me. His har gave way, and he lit out be- 
" : fore I could reason with him any more. Just 

"y as like as not we will never meet again," and 
^-," she sighed heavily. 

" Be calm, madam: do not excite yourself too 
_/■_'-' much." '■:'■■'-■ ■"-. ■■^'; ,t . -■■, W i 

"I am calm. I like to talk about these fam- 
ily seerets. It calls up sacred recollections. 
It makes me think of mv darter's fust husband. 
It was real fun to remonstrate with him. His 
har didn't give. He was game. He sassed 
back, but. Lord! what a time they had holding 
the inquest. That was at Arkansas, before I 
moved to Galveston. There was some of his 
remains in one comer of the yard, and a few 
' more remains hanging on the fence, and there 
was right peart of him wrapped around the 
axe-handle. The jury knew me, so they brought 
in a verdict of justifiable suicide, or homicide, 
or something like that. And now to think of 
this pesky little, worthless, spindle-shanked, 



goggle-eyed whelp getting clear ofif, excepting a 

few pounds of har. I want you to find him for 

me. You can know him by the brands I made 

on him with the hot skillet. Wanted to ampu- 
tate my jaw, the little brassy whelp ! Said my 

mouth was like a gate, did he ?" 

The official said he would hunt for him, and 
let her know. As she went out, she snapped 
her eyes significantly at the official, and re- 
marked : 

" You had better find that prodigal son, or 
thar'll be music at these headquarters. — Gal- 
veston News. 



Good Promise in California. 



The dispatches sent to the Snn Francisco Alia 
from various parts of the State all indicate a 
fairly prosperous condition of trade and indus- 
try, and give promise of a successful year. 
Agriculture in all its branches is making steady 
progress. The wheat, vine, and orchard areas 
are wider than ever before. Local trade is 
flourishing, building improvements are numer- 
ous, there are fewer mortgages than has been 
the rule, small factories are increasing in num- 
ber, and a general feeling of hopefulness is 
noticeable. It is true that in the southern sec- 
tion the rain fall has not yet been so abundant 
as is desirable, but there is still time for the 
clouds to give down all the moisture that is 
needed. The mining industry is temporarily 
impeded by unwise litigious opposition, but 
time will right this. California is in so pros- 
perous and hopeful a condition that a large im- 
migration should follow the publication of the 
facts. There is still a considerable amount of 
land open to settlement, upon which industri- 
ous farmers and fruit-growers should be able to' 
establish permanent and comfortable homes. 
The era of depression may be considered to 
have passed away, and henceforward our State 
will make rapid progress. , 



Engraving by Sand Blast. 



This is one of the most curious and strange 
of the inventions which have come into use in 
these latter days. To make an inscription up- 
on a marble slab, cover the face of the stone 
with a sheet of wax no thicker than a wafer ; 
then cut out in the wax the name, date, &g., 
leaving the marble exposed. Now pass it under 
the blast, and the sand shall cut it away. Re- 
move the wax and you have the cut letters. To 
cut or mark plate glass, cover it with fine lace 
and pass it under the blast, and not a thread of 
the lace will be injured, but the sand will cut 
deep into the glass wherever it is not covered 
with the lace. Now remove the lace, and you 
have a delicate and beautiful figure raised on 
the glass. In this way beautiful figures of all 
kinds are cut in glass and at a small expense. 
The woi"kmen can hold their hands under the 
blast without harm, even when it is rapidly 
cutting away the hardest cutting glass, iron or 
stone; but they must look out for finger nails, 
for_they will be whittled off right hastily. If 
they put on steel thimbles to protect their nails 
it will do but little good, for the sand will whit- 
tle them away ; but if they wrap a piece of soft 
cotton around them they are safe. You will at 
once see the philosophy of it. The sand whit- 
tles away and destroys any hard substance — 



even glass — but does not effect substances that 
are soft and yielding, like wax, cotton, fine lace, 
or even the human hand. . ' "1 



Cincinnati Iron Market. 



Office of E. L. Haeper & Co. 

Cincinnati, Jan. 17, 1882, 
The market is about the same as reported 
last week. Stocks are light, demand good and 
prices strong. 
We quote as follows : 

No. Mm. 

Hanging Rock Charcoal 1 29 50@30 75 4 

Strong Neutral Coke 1 27 00@28 00 4 

American Scotch 1 26 50@27 60 4 

OBEY FOBOE. 

Neutral Coke 25 60^26 50 4 

Cold Short 24 00@25 00 4 

CAR WHEEL, AND MALLEABLE. 

Hanging Rock Cold Bla.st 36 00(g>38 00 4 

Warm Blast 30 00(5)32 00 4 

Lake Superior 1 and 2 32 00(a33 00 4 

Lake Superior 3 to 6 34 00®36 00 4 

Southern Car Wheel 36 00@40 00 4 



Poetic Perry Boat. 



The new ferryboat " Wenonah," constructed 
by the Harlan & Hollingsworth Co., of Wil- 
mington, Del., for the Camden and Philadel- 
phia Ferry Co., arrived at Camden, N. J., on 
the 11th inst. Its entry into the waters of the 
Delaware is thus poetically described by Walt 
Whitman : 

" Such a show as the river presented an hour 
before sundown yesterday evening all along be- 
tween Philadelphia and Camden is worth weav- 
ing into an impromptu item. It was full tide, V^ 
a fair breeze from the southwest, the water of a 
pale tawny color, and ju.^t enough motion to 
make things frolicsome and lively. Add to 
these an approaching sunset of unusual splen- 
dor, a broad tumble of clouds, with much gold- 
en haze and profusion of beaming shaft and 
dazzle. 

"In the midst of all this, in the clear drab of 
the afternoon light, there steamed up the river 
the large, new Camden f e]*ry-boat, the Wenonah, 
as pretty an object as you could wish to see, 
lightly and swiftly skimming along, all trim and 
white, covered with flags, transparent red and 
blue, streaming out in the breeze. 

" Indeed, the boat and the scene made a pic- 
ture worth contemplating. Only a new ferry- 
boat, and yet in its fitness comparable with the 
prettiest product of nature's cunning and ri- . ; 
vailing it. High up in the transparent ether, 
gracefully balanced and circled four or five' 
great sea-hawks, while here below, amid the 
pomp and picturesqueness of sky and river, 
swarmed this creation of artificial beauty and 
motion and power, in its way no less perfect." . 

The dimensions of the Wenonah are, length, 
158 feet; width, 54 feet; depth of hold, 12 feet. 
The wheels are 18^ feet in diameter and 7^ feet 
face. The cylinders are 44 inches in diameter, 
with 10 feet stroke. The boat is substantially 
as well as elegantly finished, having been con- 
structed for strength and durability, especially : 
for service in heavy ice. ' 



The Forth Bridge. 



•[■ 



A. 



\ 



i.' 




It is stated that except as regards site, there 
is nothing in common between the original 
bridge of St. Thomas Bouch and that which 
has been agreed upon by the consulting engi- 
neers of the three great English Companies in- 
terested in the East Coast route. It will be re- 
membered that, after the fall of the Tay Bridge, 
the Forth Bridge works then in progress were 
stopped, and the question of building a trust- 
worthy bridge of any kind across the Firth of 



m 






ir 



VT^"' •j;'s^r!-.- *:.=? '-^'i-K ,•!■ 



AMERICAN RAILROAD JOURNAL. 



• T r'»ip . ^T''?^ 



43 



Forth was referred afresh to Mr. T. E. Harris- 
on, Mr. W. H. Barlow, and Mr. John Fowler. 
It is intended to give such strength and stabil- 
ity to the proposed bridge that, even if every 
important bridge and building in the country 
were levelled to the ground by a tornado pres- 
sure of 112 lbs. per square foot, the Forth Bridge 
would remain unscathed, and approve itself the 
strongest and stiff est bridge in the world. The 
strength of the several members of the struct- 
ure will, it is said, be such that, even assuming 
the 1,700 feet span were loaded with a couple 
of 900 tons trains, each consisting of two of the 
heaviest engines built, at the head of fifty of 
the heaviest coal trucks, and that at the same 
time the bridge were struck by the aforesaid 
hypothetical, but physically impossible, tor- 
nado, not a single rivet or joint would there be 
started, nor would there be the slightest chance 
of the structure being overturned or injured in 
any respect. — HerapaWs Railway Journal. 



Improving the 



Channel 
River. 



of the Harlem 



Senatob MiiiiiER, of New York, on the 18th 
inst., presented to the U. S. Senate a memorial 
signed by Thomas Dickson, president of the 
Delaware and Hudson Canal Company, Brown 
Bros. & Co., and other perminent capitalists of 
this city, ui^ing the passage of a joint resolu- 
tion now pending before Congress to authorize 
the Secretary of War to contract with Charles 
■ Stoughton and others to construct a channel 
300 feet in width and 15 feet deep along the 
course of the Harlem River, from the Hudson 
River at Spuyten Duyvil creek to the outer end 
of Randall's Island. Mr. Stoughton and his 
associates, the memorial states, propose to 
furnish the right of way free and render the 
projected channel navigable by July, 4 1884, 
for the sum" of $1,300,000. As will readily 
appear, the completion of this work would be 
of great advantage to coal shippers to the ports 
along the Sound and to New England. 



THE LAKE SHORE AND MICHIGAN SOUTH- 
ERN RAILWAY COMPANY, 

Treasurer's Office, Grand Central Depot, 
New York, December 23cl, 1881. 

The Board of Directors of this company havA this 
day declared a QUARTERLY DIVIDEND of TWO 
per cent upon its capital stock, payable on WEDNES- 
DAY, the first day of February next at this office. 

The transfer books will be closed at 3 o'clock P. 
M. on Saturday, the 31st instant, and will be re- 
opened on the morning of Saturday, the fourth day o^ 
February next. 

B. D. WORCESTER, Treasurer 



FOR SALE. 

Ten new Locomotives, Standard Gauge, June 
and July delivery. 

New 3ft. Gauge Locomotives, summer delivery. 

One Second-hand Tank Locomotive 3ft. G«uge, 
rebuilt good as new, January delivery. 

Second-hand Standard Gauge Locomotive and 
Passenger Cars. 

Thirty new Box Cars Standard Gauge, immedi- 
ate delivery. :- 

New Flat and Coal Cars, January delivery. 

New Passenger and Combination Coaches 3ft. 
Grange, early delivery. 

New Car Wh eels and Castings. ,. 

Eron and Steel Rails. 

Narrow-Gauge Rolling stock a specialty. 

BARROWS & CO. 

■ ' Q4 Broa.ci"w-a.3r, 

NEW YORK. 



F 



Interest allowed on Deposits subject 
to Draft. Securities, &c., bought and 
sold on Commission. 

Investment Securities always on hand. 



ALOJVZO FOLLETT, 



— r— 



I THE PERFECTED 

R E fi[ I N G T O N 



Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A L ^ 

Scioto R. R. 1st 7's, 1905. 
Scioto R. R 2nd T's, 1879. 
Scioto R R. Con. 7's, 1910. ' 
• I Scioto R R. Stock. 

Columbus & Toledo 1st 7'8, 1910. 
ToL, Cimn. & St. L. Stock and Bonds. 

D. A. EASTOIV, 
Wo. .1§ Broadway, W. Y- 



As Mad as a Hatter. 



The most striking (in .two senses) thing 
about the hatter's art, in the old time when felt 
hats were made by hand, was the beating up 
of the felt. Dippii^ the mass of wool and hair 
from which his fabric was to be formed, fre- 
quently into hot water, the hatter was then 
wont to fly at it, as if in passion, and give it a 
violent beating with two sticks, one held in 
each hand till it was matted together into the 
felt, which in time, after numerous combings 
and dressings and shearings, became the stylish 
beaver worn by the men of fifty years ago. 
The hatter seemed to' be very mad at this object 
of his labor, and "mad as a hatter " needed no 
explanation in those days. 




The Marquis of Bute started a daily paper in 
Wales, and after sinking about $400,000 in the 
concern shut up the shop. As a marquis he is 
all right, but in journalism the Bute is on the 
other leg. ;v.:Ac-.-.- -,;ii/.-;-^;v- : -iv/ r- 



TYPE-WRITER. 

\ WRITING - MACHINE which combii 
ia^'e w^ith rapidity and accuracy, 
and economy with elegance 
and convenience. 

Adapted to general use. Every machi >*> 
guaranteed. 

Send for Circulars with names and testimonials 
recent patrons. 

, E. REMINGTON & SONS, 

281 and 283 Broadway, New York. 
38 Madison Street, Chicago. 
124 South 7th Street, Philadelphia. 
9 1 South Howard St., Baltimore. 

[Mention thia paper.] 



Paine, Webber & Co., 

, Bankers and Brokers, 

IVo. 53 Devonshire St.. Boston 

:, (Membert of the Botton stock Exchange.) 

Devote special attention to the purchase and sale of 
Stocks and Bonds in the Boston market, the careful se- 
lection of securities for investment, and the negotiation 
of commercial paper. 

Wm. a. Paine. Wallace G. "Webbkb. C. H. Paine. 



John H. Davis & Co., 

g BMERSUHDBBOeS,^; ^ 

UTo. 1Y UTall StM Mew ¥ork. 



Brown, Brothers & Co., 

No. 59 Wall Sheet, New You, 

"■' • — BUT AND SELL — 

< — ON — 

BBITArN, niELAND, FRANCE. GERMANY, 
• BELGroM, AND HOLLAND. 



sri 



GREAT 



S^^A?'ION WANTED AS CIVIL ENGINEER ON A 
►^ Railroad; can do machinists work, erect bridges, 
well conversed in Spanish language. Educated at 
Bens. Poly. Inst.. Troy, N. Y. Address 

CIVIL ENGINEER, P. O. Box 1594. N. Y. 



issue Commercial and Travelers' Credits in Sterling, 

AVAILABLE IN ANY PART OF THE WORLD, AND IN 
FRANCS IN MARTINIQUE AND GUADALOUPE. 

Make Teleobaphic Transfebs of Monet between this 
and other countries, through London and Paris. 



Make Collections of Drafts drawn abroad on all points 
In the United States and Canada, and of diufts drawn in 
the United States on Foreign Countries. 



Interest allowed on temporary and standing deposits. 
Ptocks and Bonds bought and sold on Commission only, 
►^ither on Margin or for Investment. 



JOHN STEPHENSON CO., 

[LmrrKD.] 




i- 



a!'xi..Aj&c- 



NEW YORK. 



Superior Elegance, Lightness and Du- 
rability. The result of 50 years' experi- 
ence. •;.;■.,■.•':.:.•..■ ^ir^'- ;. ; '■.■-■ :':i' ■'■'-:■: :-.^:- .--:. 

Adapted to all countries and climates. 
Combining all valuable improvements. 
Shipped to Foreign Parts with greatest 
care, and at most favorable rates. 



i 



44 



^ AMERICAN RAILROAD JOURNAL 



< OF FI C E OF 1 

AlflJE RIC A 

REFRieERATOR 

:'.:■: LINE,:; 1- 

New York, Oct., 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 
sential Oils, Mineral Waters, 
Lager Beer, Ales and Porters, 
Oysters, or, in fact, any class oi 
goods that n6eds protection 
from heat or cold while in tran- 
sit to the West and Southwest, 
jfither in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 




BErEIBEMTOR TMSIT COMI 



Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonable 
j ; Prices by the ':'■■''' '■■:'i.^;'rA \^:^'"-': '<^ ")'</ ''l'. . I ■'■■■'. "•' 

I \ HARLAN & HOLLINGSUOKTH CO., ITiliningtoii. I>e1. 

PARDEE CAR WOAKS. 



WATSONTOWN, PA. 





I, KlilXUUAi «, 1/Ul, 

PROPRIETOKS. 

iMla.n.'uf^Qtu.rors of 

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, (3oal, Mine, and Hand Cara ; 

Keiley's Patent Turn-Tables, and Centers for Wooden Turn-Tables; 

Car Castings, Railroad Forgings, Rolling-Mill Castings, 



i- 



Bridjre Bolts and Castings. 



4Sr''^e have, in conn«ction with our Gar Works, an extensive Foundrj and Machine-shop, and are prepared 
lo do a general Machine Business. >., ,^ i,, . , 



Chairman, 
LBIO PAKDEE. 



Treasurer and General Manager, 
H. I*. SNYDER. 



Secretary, 
N. liEISEB. 



NEW YOKK CITY OFFICE : ROOM A, No. 137 BROADWAY. 

C. W. LEAVITT, Agent. 



Gaaranteed Bills of Lading 

Time as qnick and rates as 
low as by any first class fasi 
freig^ht line. i 

JE^Shlp from New York rla 
N. Y. C. and H. h. .k R., St. 
John^s Park ; from Boston via 
Boston and Albany K. K. 



For rates and information apply to 

FAED'K I. EVANS, 

: Beneial Eastern Agent. 



92 Wall Street, - New York. 

271 Broadway, New York, 

282 Washington Street, Boston* 



m mi uu E BiE, m m nu Riiiwif. 

TO THE TR,<A."VBI_iIlsrca- PXJBIjIO. ^-- • -^ 

- During the Centennial season— six months closing September 10, 1876— the Erie Railway caiTied almoti 

rwaxs. MiLuoN passengers, without a singe accident to life or limb, or the loss of a piece of baggage. 
„. ^^^ 'or a whole jrear the official records of the United Statee Post Office Department show th« trrirals of 
awe Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines. 
Facts well worthy the consideration of travelers. 



E. S.iBO'WEU', General Superintendent. 



JNO. N. ABBOTT, Gfen. Puatngtr Ageni, 



i Railioad 




Track Scales. 




PHILADBLPHIA, 

50 South 41 h St. 

V NEW YORK, 

115 Liberty Street. 

PITTS BUKGH, 
Liberty St. cor. 7th Av. 

.*T. L.OU1S, 
609 North 3<l Street 

NKIV OKLRAnS, 
XA'Z Gravler Street 



THE ROGERS 



LOCOMOTIVE MB MACHINE WOBES, 

FcLterson, N". J. 

Haying extensive facilities, we are now prepared to 
furnish promptly, of the best and most approved de- 
scription, either . , . 

COAL. OR IVOOD BURNlNl^ 

!-i0001^0TIVE3 E31TCHITBS, 

AND OTHEB VASIETIES OF 

BAILROAD inACHINERY. 



• 4 ' 

j. 8. ROGERS, Prei't 
R. S. HUGHES, Sec 
WM. 8. HUDSON 



retH, \ 
Jec'y. J 
, Sup'L ) 



PatersoBt N. J. 



I^ S. HTJO-mSS, TrestsvLxei. 
j. 44 Exehuftc* Pl«oe> Ne'er York. 



T £1 Ej 

G(JRDO\ & DUGGA^ 

RAILWAY SWITCH. 



The Standard on several and in use on 

twenty -five Bailroads. '♦ . '. : ' ''/■- 1 ' . "•■ ' - 

Combines Safety, Durability, Simplicity, 
and Low Cost, with Fixed Rails.l 

The only movable piece weighs 375 lbs., 
and is without a bolt or rivet. . • ;■' |' ■, . ':..- 

E. CORDON, Treasurer, i v 

No. 28 State Steeet, Boston, Mass. . '. 



r; 1 



-'""^ ■-''•"''" 



AMERICAN RAILROAD JOURNAL. 



45 




VALENTINE'S VARNISHES 



•1.; 



ARE ON SALE IN THE FOLLOWIN& COUNTRIES: 



ENGLAND. 



FRANCE. 



GEUMANY. 



SWITZERLAND. 

• .- ITALY. ; ; \ , 

■'■ ■--• • '■ . -'1 ■ > 

HOLLAND. 



AUSTRIA. 

y *■■"■' 

SPAIN. 



SCOTLAND, 
KUSSIA. 



INUIA. 



SOUTH AMERICA. 



MEXICO. 



AUSTRALIA. 



NEW ZEALAND. 



CUBA. 



VALENTIN li A d 6 M PANT, 

W-M'-' COACH AND CAR VARNISHEsJ^-?^: :■ ■" 



i- 



V-i ^ 



¥: 



E A M E S V A C U V M B RAKE CO. 



i 



r-/^. :.:*;. RAILWAY TRAIIV BRAKES, ^^mW-m^^:^ 

P.O.Box 2,«7§. MALES OFFICE 15 GOLD ST, N. V. R«*prrsenti-d by THOS. PROSSER & SOW. 

The EAMES VACUUM BRAKE is confidently oflfered as the most efficient, simple, durable uid ckea^pest Fow«r Brak* in tb« 
market. It can be seen in operation upon^over seventy roada. '''.y '-:■.' "':'/'' 



• >■-...-■.'•* f : ■/ J 



46 



•-^.TF-- 



AMERICAN RAILROAD JOURNAL. 



Baker & (iodwiirs 

PRINTING HOUSE. 



ESTABLISHED 1850. 



MODERN RmLWAY PRINTING. 



:(■ 



peelal attention Klven to this class of ivork. 

This establishment is very extensive, adapted to every 
variety and style of Printing, and the proprietors hope 
to be favored with a share of Railway patronage. Esti- 
mates furnished on application. 

BAKER & GODWIN, Printers, 
No. 25 Park Row, 

Dirsctly opp. Post Office. NEVT YORK. 

Printing of all kinds at greatly reduced rates. 



; NO OTHER LINE IS SUPERIOR TO THE 

FITCHBURG RAILROAD 

HOOSAC TUNNEL ROUTE 
"WEST. 



THE RHILWIIY TIMES 

AND JOrNT-STOCK CHRONICIiE. 



The Railway Times was established in the year 1837, ana 
as consistently maintained the purpose for which it was 
tarted — to giveau independen taccount of all matters of 
importance to railway shareholders, not neglecting, at 
the same time, the duty of keeping its readers well in- 
formed on all matters of commercial interest. 

It is published every Saturday. Price 5d, The price of 
subscription for one year is £1 1«. 

No. 2 Exeter Street Strand W. C. London. 



flOUSATONIC RAILROAD 

-^ 

THE ONLY LINE RUNNING 

T I^ I^ O TJ.C3r X2 C -A- I?. S 

Between New York, Great Harrington, Stockbridge, Len- 
ox, and Pittsfleld — the far-famed resort of the 

Berkshire Hills 

of Western Massachusetts — the "Switzerland of America." 
Two through tnilus daily between New York City and 

all points on the llousatonic Railroad, from the Granc 

Central Depot via the Now York, New Haven, and Hart 

ford Railroad at 8:05 A. M. and 3:43 P. M. 

Descriptive Guide Bo«)k sent free upon application to 

the General Ticket Agent. 

li. B. STILLSON, Supt. 
H. D. AVERILL, Gen. Ticket Agt 
Gen'l Offices, Bridgeport, Ct.. Nov. 7, 1881. , 



8.30 A 



DAY 



EXPRESS. 



rh|x>ugh drawing-room car to Rochester, N. Y., connecting with through sleeping car 
lor Cincinnati, Cleveland, Toledo, DETROIT AND CHICAGO, 



3. 




P. CINCINNATI 

M. EXPRESS 



:-;i;-: 



Pullman Sleeping Car attached, running through to Cincinnati without change. (Onb 
Line running Pullman Cars from Boston.) This car runs via Erie Railway, making direc 
connection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an ( 
New Mexico. 



3. 




P. ST. LOUIS 

M. EXPRESS. 



johnB.DavidsiCo^ 



SUPERK 




INGIXEEI 

lfacturerH,Miners,Merchants,itc.,willtindinMoOKK'B 

UNrvERSAL Assist ANT AN'D Complete Mf.chanic, a work 
containing 1016pa'res,500Enprravings, 461 Tables, and over 
1.000,000 IndustriafFacts,Calculations, Procpsses, Secrets, 
Rules, Ac, of rareutilityin 2 )0 Trade?. A f 5 bookfree by 
mail for f 2.50, worth its weightin gold to any Mechanic, 
FarmerorBusinessMan. Agents Wanted. Sure sale every- 
where for all time. For 111. Contents Pamphlet, terms, 
and Catalogue of 500 Practical Books, addressNATlONAL 
Book Co.. 73 Beeknan St., Kew Y«rk. 



ALL ABOUT HAWSAS 




THE WEEKLY CAPITAL is an eight-page, 48-column 
paper, published at Topeka, Kansas, giving full and re- 
liable State news, crop and weather reports from every 
County. $1.00 per year. Sample copy free. 



THE ONLY LINE which runs a THROUGH SLEEPING-CAR from 

BOSTON TO ST. LOUIS WITHOUT CHANGE! 

1 ' ARRIVING AT 8.00 A.M. SECOND MORNING. ^^ 

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville 
Tolono, Decatur and St. Louis, maliing direct connection with through Express Trains fo: 
Kansas, Colorado, Texas, and all points in the .., - ........ 

SOUTHWEST. 

P. PACIFIC 

M. EXPRESS. 

The only line running a through sleeping car via Buffalo and Detroit without change 
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex- 
press Trains for Iowa, Nebraslca, Kansas, Colorado, the Pacific Coast, Wisconsin Minnesota 
and all points in the ., ,7 

WEST AND NORTHWEST! 

THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED. 

niis Great Short Line passes through the most celebrated scenery in the country, including the famous 
HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel 
I . i . -.- ■' in America, and the third longest In the world. 

licketM, Drawinir-Rooiii and Sleepingr-Car Accommodations may be secured in Advance 
j. *y Applyingr to or AddreNsingr f \ 

250 WASHINGTON STREET, BOSTON. 250 

JOHN ADAMS, General Superintendent. V. '^ ^ ^^^^ 

r. 0, HEALD, Acting Gen'l Passenger and Ticket Ageat. 



■: i 



■A 



■ -i ■■ , 



AMERICAN RAILROAD JOURNAL. 



47 



E. W. Vandeebilt. 



E. M. Hopkins. 



VANDERBILT & HOPKINS. 

Kailroad Ties, -^ 

Car and Railroad Lumber, White and Yellow Pine and Oai. 
■ ISO liberty Street, 1\. Y. >x^ 

Also North Carolina Pine Boards, Plank, and Dimen 
8i< ns Lumber to order. General Railroad Supplies. 

■ SHIIGG BROTHERS, 

DESIGNERS AND ENGRAVERS 

,;■■'■..- ON '.-■.;-".:■■■■ ■■■■■-■' 

AND : ' - ■ '■■ -■-- 

PHOTO ENGRAVERS, 

No. 18 Cortlandt Street, 

-. .,^. :-:--;.'.;'/ \.:\ NEWYORK. 

"^ V KNOX & SHAIN, 

Manufiacturers of Engineering and Telegraphic Instru- 
ments. No. 716 Chestnut Street, Philadelphia. Two 
Medals awarded by the Franklin Institute, and one by 
; he Centennial. 



SOO Z^OHDrFTC-AuTIOlTS. 




ADAPTED TO ALL CLASSES 

n ; OP BUSINESS. 1 



Mhd and Warehouse Tmcb, 

AND COPYING. PRESSES 

I .^ Oldest and Largest 
Scale Works in the World. 

BUY ONLY THE GENUINE. 



Dormant Warehouse Scales. 



: .. 311 Broadway, New ¥ork. 




PATENTS 

We continue to act as Solicitors for Patents, Caveats, 
Tnuie Marks, Copyrights, etc., for the United States, 
Canada, Cuba, England, France, Germany, etc. We 
have had tbirty-flve years' experience. 

Patents obtained through us are noticed in the Sci- 
entific AMERICAN. This large and splendid illus- 
trated weekly paper, $ 3 .20 a year,shows the Progress 
of Science, Is very interesting, and has an enormous 
circulation. Address MUNN & CO., Patent Solici- 
tors, Pub's, of SciKNTiFic AMERICAN, 37 Park Row, 
JSewYork. Hand book about Patents free. 



COMBINATION SAW. 

' Without Lathe. 



FIDELITY AND CASUALTY COMPANY, 

4 

CASH CAPITAL, - - - - $250,000. j 

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility, 
thus securing a Corporate Guarantee in lieu of a Personal Bond where security ie required for the faithful per- 
formance of the duties of employes in all positions of trust. ■ ., 

-A^OOUDBISTT FOLiIOIBS. 

Policies issued against accidents causing death, or totally disabling injury, insuring £rom Five Hundbed 
DoLLAKs to Ten Thousand in case of death, and from Thbbe Dollabs to Fifty we«kly indemnity in case of dis 
abling injuries. 

"WM. M. ig:CHAKDS, /Ve«7. . / - JOHN M. CRANE, Secy. 

DIRBOTORS: t 




George T. Hope, 
(t. G. Williams. 
J. S. T. Stranahan. 



H. B. Claflin. 
A. S. Barnes. 

H. A. HURLBUT. 



W. G. Low. 
Charles Dennis. 
S. B. Chittenden. 



Geokoe S. Cok. 
Wm. M. Richards. 
A. B. HoLL. 



STEEL 
CASTINGS 



FROM 1-4 TO 10,000 ibs. WEIGHT. 

True to pattern, sound and solid, of unequaled strength, toughness and 

durability. 
An invaluable substitute for forcings or cast-irons requiring three-fold 

strength. 
CROSS-HEADS, ROCKER- ARMS, PISTON-HEADS. ETC., foi 

Locomotives 
15,000 Crank Shafts and 10,000 Gear Wheels of this steel now mnnin; 

prove Its suneriority over otlier Steel Castings. 
CRANK-SHAFTS, CROSS-HEADS and GEARING, specialties. 
Circulars and Price Lists free. Address 

CHESTER STEEL CASTING CO. 

40T Library St., PB[IL.AD£L.PIIIA 
IVorks. CH£ST£R, Pa. 



SWIFT'S IRON AND STEEL WORKS, 

26 W. THIRD ST., CINCINNATI, OHIO. i 

Manufacturers of all Weights of Standard and Narrow Gauge Ralls by the most approved process. Also Rail Fastenings, 

Steel and Bloom Boiler Plate, and Tank. Sheet and Bar Iron. 

BETHLEHEM IRON CO. i 
IROW AJyP STEEL R AIIi8. 

GEO. A. EVANS^ I 

No. 74 Wall Street, - - - New York. 



Price $6 without Iiathe ; with Lathe, $8. 

Address the llANUTACTURBas, 
C. M. CRANDAL.L & CO., 

MOKTTBOSE. Susquehanna Co.. PA. 



Sandusky Rail Mill Co^ 
n^ew Albany Rail Mill Co. 

STEEL RAILS, 

IRON RAILS, 

BLOOMS. 



C. H. ODELL, AGT. 

104t Jolkn St., N. T. 



FOR SALE IW I OTS TO SUIT. 

Prompt Delivery* 

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS, 
AND FOR RE-ROLLING OLD RAILK 

OLD RAILS AND SCRAP AND CAR WNELS BOUGHT AND SOLD. 



%::-.i 



\^<i7:^:''l-i.:.\ 



48 



AMERICAN RAILROAD JOURNAL. 






■ • f\'- . '. ** '' ' 




This material is indistructible and therefore valuable for all purposes of 



-A.N"D- 



HEAT,i 

FROST-PROOFI]\G. 

Over 3.600,000 lbs. now in actual use ; 614,000 Ibn. of which have been applied in cars as shown in diagram. 

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution 

Sample and circular &ee by mail. 

1 UNITED STATES MINERAL WOOL COMPANY, 

ITo. IQ Oortlandt Street, N-HTW TTOR/K 



NATIONAL TUBE "WORKS CO. 

MmUFACTUHE WROUGHT lUO\ PIPE AND TUBES. 



WORKS: 1 

McKeesport, Penh. 
Boston, Mass. \ 



NATIONAL SPECIAL SEMI-STEEL 




OFFICES: 



TTIDF^ 1 04 and 1 06 John St., N.Y 



8 Pemberton Sq., Boston. 
I 59 Lake St., Chicago. 



C4i 



K*»TABL.ISHG:D in 1836 



LOBDELL CAR WHEEL COMPAH, 

Hrilmingrtoii, Delaware. 

GEORGE G. LOBDELL. President. 

WnJJAM W. LOBDELL, Secretary. 

P. N. BRENNAN, Trecuurtr. 



J. C. BEACH, Treas. 



C. H. ANTES. Sec'y. 



ALLEN PAPER ^M WHEEL COMP'Y. 

Oen'l Office, 940 Broadwit) , N. Y. 

WOBKS AT PULLMAK, ILL., AND HUDSON, NKW TORK. 



i EAOLE 
TUBE CO. 

614 TO 626 WEST 24TH ST., 

New York. 



Boiler 



Tubes, 



AN INDESTRUCIIBLE WHEEL FOR PASSEN- 
GER CARS AND ENGINES. 



A. Whitivey & Sons, 

CAH WHEEL WORKS, 

Callowhill and 16tli Streets, 

PHTLADELPHIA, PA. 



Of all regrular sizes, of the 
i best material, and 
j I warranted. 



LocomotlTe Water-Grates a 
specialty, and 20 per cent 
i below regular prices. 



W« funiislx CHILLED WHEELS for Cars, TruckB, and 
Tenders. CHILLED DRIVING-WHEELS and TIRES fOI 
Locomotires. ROLLED and HAMMERED AXLES. 
WHEELS AND AXLES FITTED COMPLETE. 



Prices lower than other Manufacturers. 



Gi:0. 1^ WOOD, 

IRON AND RAILWAY BUSINESS. 

steel and Iron Rails, 



No. 19 WilUam St>, NEW YORK. 

"Tailroad iron. 



STEEIl 

CAR 

PUSHEE 



MADE ENTIRaY OF STEEL 

ONE MAN with it can easily 
move a loaded car. 

Manufactured by E. P. DWISHT, 

DSAI^EB IN BaILBOAB SVVrhOB, 

407 UBRAEY ST., 



NO PAYMENT REQUERED UNTIL 

TUBES ARE TESTED AND 

SATISFACTORY. 

N. B.— Send for Stock L.lst. 



I COTTeW-SEEI> HULLS ^ 

For Fackiiig Journal Boxes of Cars, 

i .National Railwat Patemt Waste Co. 
240 Broadway, N»w York. 



The undersigned, agents for the manufacturers, art 
prepared to contract to dolivsr best quality American 
or "Welsh Steel or Iron Hails, and of any required 
weight and pattern. Also Speigel and Ferro Manganese. 

PEKMinrs A CHOATE, : 
a3 Wa«»«n Sireet, WBW YORK. 

First-Class Engrlish 

IROIVAJVD 8TEEL RAILS 

AT LONDON PRICES. F. O. B. 

We also purchase all classes of Railroad Sacurltlei. 
and negotiate loans for Railroad Companies. 

Wn A. OVE*!$T & CO, 

Nos. 41 and 43 Pine Street^ New York. 

Safety Railroad Switches, 

WITH MAIN TRACK UNBROKEN. 

Railroad Crossings, Froorg, and Qthar 
, Railroad Supplies. 

MANUFACTITBED BY THE 

WHARTON RAILROAD SWITCH CO., 

"^ • " PHIIiADEIiFTTTA. ^ ' 

Works : 93d and Washington Ave. 
Olllee: US Soutb 3d Street. 



PV: 




steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



! SCOOND QUABTO SERIES.— YOL. XXXVIII.. NO. i.] 



NEW YORK, JANUARY 28, 1882. 



[Whole No. 2,388.— Voi.. LV. 



Railroad Sanitation. 



(Read at the Savannah meeting of the American Public 

Health Association, 1881.] By S. 8. Hebbick, M. D., 

Secretary of the Louisiana State Board of Health. 



A. — Its Objects. 
The following are conceived to be appropri- 
ate objects for a i-ailway sanitary system : 

1. A surgical and medical service, designed 
for the relief of sufferers (passengers and em- 
ployees) from the casualties of travel upon the 
lines, for affording medical attendance in ordi- 
nary diseases contracted by employees, and for 
superintending their personal hygiene. 

2. Physical examination of those engaged in 
the movement of trains, with reference to de- 
fects of sight and hearing, and diseases of the 
heart, lungs and great blood vessels, as a pre- 
requisite to their employment. 

3. Inspection of the sanitary condition of 
passenger coaches, of grounds and buildings, 
and recommendation of improvements wher- 
ever needed. As occasion presents, counsel in 
the selection of sites and in the construction 
of works and buildings. 

4. A meteorological service affiliated, if prac- 
ticable, with the National Signal Service. 

5. To guard against danger of infecting rail- 
road coaches, stock and goods cars, by trans- 
portation of diseased persons or animals, or of 
infected personal baggage or merchandise ; 
against danger of conveying contagion from 
one point to others, and against injury to stock 
in transitu from overcrowding, long confinement 
and deprivation of food and water. 

6. To confer with national, state and local 
sanitary authorities, with the view of obviating 
or moderating restrictions on travel and traffic; 
and to represent the company in sanitary and 
quarantine consultations, wherever its interests 
may be affected. 

B. — Its Advantages. 
1. Kelief to the victims of railway accidents 
is generally recognized by the managers as a 
measure of policy as well as justice, and many 
of the most important companies have arrange- 
ments for carrying out this purpose. It is hard- 
1 ly necessary to say that the whole relief service 
of a CDmpany should be under the superintend- 
ence of a single medical head, for the purpose 
of securing uniformity and efficiency of action, 
and economy in cost. 

There is good reason to believe that a system 
of medical attendance upon employes could be 
80 organized and administered as to conduce 
materially to the advantage of both the men 



and the corporations employing them.* The 
merchant marine of the United States has a 
system, for many years in successful operation, 
which is of incalcuable benefit to mariners and 
is self-supporting, from a tax of forty cents per 
month upon all who are entitled to its benefits. 
Thr-s is a model worthy of imitation. , 

It is undeniable that the efficiency of men 
in any organization is in direct relation to con- 
tinuity of action. Interruptions by sickness 
are among the most common and the most se- 
rious disturbing causes. To reduce these to a 
minimum and to secure with the least possible 
delay the return of trained employes to their 
familiar duties, is an object of great import- 
ance. The certainity of having medical relief 
within reach at all times would operate power- 
fully in producing contentment and regular 
continuance in their occupations. 

In large cities, established general hospital 
would be available for this kind of relief, as 
well as for the surgical casualties before men- 
tioned ; but the individuals there treated "for 
railroad companies should be under super 
vision of their own medical officers, to pre- 
vent nbuse of privilege and secure the best at- 
tendance. At other points suitable infirmaries 
should be established and placed in charge of 
local practitioners, employed bj' special con- 
tract for specified duties. These would be con- 
veniently located at the termini of roads and 
at the intermediate points where work-shops 
are situated and the crews of trains reside. No 
compulsory hospital fee need be imposed, for 
the advantages of the system would be ample 
inducement for its voluntary adoption by the 
men, and it would naturally be extended so as 
to include their families in its scope and give 
them attendance at home. 

But we must not lose sight of prevention, 
which is proverbially of manifold value above 
the cure of disease. The single example of 
malaria, so prevalent throughout the greater 
part of our country, so mighty a destroyer of 
life and so potent a disturber of man's indus- 
tries, affords a boundless scope for the exercise 
of personal prophylaxis under medical super- 
vision. The crews of night trains sis^ especial- 
ly liable to malarial affections, whic4 might be 
mostly prevented by suitable regulations, in- 
cluding the proper preventive remedies. 

It is obvii JUS indeed that precautionary meas- 
ures, under medical superintendence, could 



* a newspaper paragraph recently announced the 
projected establishment of a hospital at Aurora, 111., by 
the Chicago, Burlington and Quincy Bailroad Company. 



advantageously be used to guard men against 
the whole list of preventable diseases. Besides, 
there would be great gain in early treatment of 
ordinary ailments, which would be encouraged 
by placing facilities within reach of all. 

The medical adviser would also, as far as 
practicable, secure men, while on the route, 
against prolonged fasting and deprivation of 
sleep, against unnecessary exposure to cold and 
storm, and secure for them wholesome food 
and water.* 

It might be supposed that the instinct of self 
preservation on the part of men, aided by the 
good sense of managers, would clearly lead to 
suitable hygienic measures ; but the same sup- 
position applies to people of all classes and oc- 
cupations, while sanitarians are convinced that 
at least half of the ailments of mankind in civ- 
ilized life are strictly preventable. It is gener- 
ally agreed that private individuals and corpor- 
ations are more successful than government in 
the execution of important works with dispatch 
and economy ; but the government shows more 
wisdom in caring for the lives and health of its 
servants, both in curing and in preventing dis- 
ease, j j 

2. "We have just seen that neither employes 
nor employers recognize the value of personal 
hygiene for the avoidance of preventable dis- 
eases; but it might rationally be supposed that 
the former would not willingly risk their lives, 
nor the latter the lives and property of their 
patrons, as well as their own property-, on rail- 
road trains with blind men in chaise. Yet this 
risk is actually run, and we know not how often, 
on most of the railroads in this country. Ob- 
servation has proved that about 4 per cert of 
men are incapable of distinguishing between 
the colors used for signals ; f and a still larger 
proportion cannot recognize objects far enough 
to stop a train in time to escape danger. Under 
certain circumstances these men are practically 
blind, and occasions come when disaster en- 



sues. 



\-:- 



* It is not unusual, during a busy season, for the 
crews of freight trains to be kept on duty for 36 hours 
or more, without opportunity for sleep. This is not 
only a «Tong to the men, but it endangers trains very 
seriously. I have the recent testimony of an intelligent 
engineer, that he had lighted a cigarette to keep him- 
self awake at his protracted task and woke to find his 
clothing on fire from the cigarette which dropped fipom 
his lips while he was overcome by sleep. i 



t It is known that color-blind men may distinguish 
between colored lights by their intensity; but with a 
light burning low, and in storm or oust, they must 



. ',.. jr^L ^yL-tSiji^si 



i V 



■•- -V T f-i -\^~.'< :.^^^^;f>^^^^j.- .' 



■:• ■ "t;-T»-^»:-,'^^ 71 wv» ^^^TT 



\Tf!^'^f^^^^fi^^^^A-^-?^^T^^^-'-^^^ 



50 



AMERICAN RAILROAD JOURNAL. 



It is hardly necessary to mention here that 
an Act of Congress requires all pilots of steam 
vessels carrying the American flag at sea and 
those navigating the waters of the U. S., to 
pass an examination testing their color sense 
and visual acuteness ; and that the legislatures 
of Connecticut and Massachusetts have made 
the same requirement of railroad engineers, 
firemen, conductors and signal men. It is 
probable that similar provisions will be enact- 
ed in other States at no distant day, unless 
railroad companies forestall action by volunta- 
rj' adoption of an efficient system carried out 
by their own medical officers. Indeed, there is 
good evidence that this will gradually or rap- 
idly become an established fact upon the most 
important roads, since it has already gone into 
effect upon a number ; for instance, the Penn. 
R. R. and others leading out of Philadelphia, 
the III. Central, etc. 

The Board of R. R. Commissioners in Mas- 
sachusetts reported, in 1880, that such exami- 
nations are practiced generally on the railroads 
of England, France, Germany, Italy and Swe- 
den, although not required by law ; while they 
are so required in Holland. It thus appears 
that the railroad companies in the most en- 
lightened countries of Europe have rendered 
legislation on this subject unnecessary. 

At the present time the most important ques- 
tion at issue is, whether these exivminations 
may be made by laymen, officers of the com- 
panies, or whether they should be made exclu- 
sively by medical men or experts. The Mas- 
sachusetts R. R. Commissioners hold that the 
former are competent, but this is controverted 
by the experts appointed by the Connecticut 
Board of Health to enforce the lesislative act 
of that State. Thus Professor W. H. Carmalt, 
of Yale College, one of the examiners for Con- 
necticut, testifies that experience has taught 
him his former error in supposing that laymen 
might make the examinations. He found that 
the reports of railroad superintendents and 
others who had made examinations were often 
incorrect, the tests being applied either super- 
ficially or in ignorance of the subject : for in- 
stance, they failed to distinguish between true 
color blindness (a fatal defect) and color stu- 
pidity (simple ignorance of the names of col- 
ors). Besides, cataract, in any degree, is a 
fatal defect, but one which a layman is incom- 
petent to detect in an early stage. In short, a 
medical examination is needed for the protec 
tion of the men as well as the public. 

Again, men occupying positions vital to the 
safety of railroad trains might suddenly be 
stricken down at the post of duty through some 
organic defect of the heart, or aneurism of a 
large artery, or pulmonary hemorrhjige, which 
•would surely be anticipated by a careful medi- 
cal examination, but not otherwise. 

Deafness, too, would be a disqualification, 
but a layman should not be expected nor re- 
qnired to define the boundary between admis- 
sion and rejection or to apply the tests. 

It appears, from the testimony of Prof. Car- 
malt, that the principal of natural selection 
soon eliminates railroad engineers laboring 
tinder serious visual defects, for out of seven 
rejected by him for color blindness he found 
only one who was over 32 years old. The aver- 



age age was 26J years. These, like their elder 
confreres, would be eventually condemned as 
incorrigibly unlucky, but perhaps at frightful 
cost of life and property. • 

Another important consideration is, that ac- 
cidents traceable to such physical defects of 
employes as could be detected by medical ex- 
amination would certainly place the company 
at fault and responsible for damages to person 
and property; while, on the other hand, the ab- 
sence of such defects would go far in exoneration 
frqm such responsibility'. Morever, in case 
palpable physical defects be proved, claim for 
exemplary damages would be made, and prob- 
ably allowed. 

• (To be continued.) 

I 1 ■ ^ 

PERSONAIi. 



Waltek Shanly, late manager of the St, Law- 
rence and Ottawa, has been appointed chief 
engineer of the Canada Atlantic Railway. 

John W. Smith has been appointed general 
superintendent of the St. Louis, Keokuk and 
Northwestern Railway, with office at Keokuk. 

Albert Fostee has been appointed secretary 
to the receivers for the Philadelphia and Read- 
ing Railroad Company, and F. B. Kaercher for 
the Coal and Iron Company. 

Mk. George C. Wilkens, superintendent of 
the Baltimore Division of the Northern Cen- 
tral Railway, was appointed receiver of the 
Washington and Alexandria Railroad. 

The East Pennsylvania, East Mahanoy, 
Reading and Columbia, and Chester an I Dela- 
ware River railroads, operated by the Reading 
Railroad, elected officers on the 23d inst. G. A. 
NicOlls, of Reading, Penn., was elected presi- 
dent pf each. 

P. A. Blanchard, brother of vice-president 
Blanchard, of the New York, Lake Erie and 
Western Railway, and for a number of years 
assistant freight agent for the Erie in New York 
City, has been appointed foreign freight agent 
for that road for Boston and its vicinity. 

The American Society of Civil Engineers has 
received from Brazil an album of photographs 
handsomely bound, and having on the cover 
the following inscription : "The Engineers' 
Club of Rio de Janeiro, to the American Society 
of Civil Engineers, in memory of their common 
associate, William Milnor Roberts : pictures of 
the Dom Pedro Sequendo Railroad, the last 
road he traveled." 

The American Society of Civil Engineers 
held its annual meeting in this city on the 18th 
inst. The society now numbers 605 members. 
During the fiscal year which ended on the 3d 
of December, 1881, the demands on the society 
for engineers far exceeded the number of mem- 
bers open to engagements. It was decided to 
hold the next convention at Washington. Ash- 
bel Welch, of Lambertville, N. J., was re-elected 
president for the ensuing year, and J. B. Eads, 
of St. Louis, and Wm. H. Paine, of Brooklyn, 
vice-presidents. 



The Receivers of the Philadelphia and Read- 
ing Edilroad Company have authorized the pay- 
ment, on and after Feb. 10, of the*interest on 
the general mortgage bonds due last July and 
amounting to about f 6J(»,000. 



The Use of the Xjemon. 



As a writer in the London " Lancet" remarks, 
few people know the value of lemon juice. A 
piece of lemon bound upon a com will cure it 
in a few days; it should be renewed night and 
morning. A free use of lemon juice and sugar 
will always relieve a cough. Most people feel 
poorly in the spring, but if they would eat a 
lemon before breakfast every day for a week — 
with or without sugar, as they like — they would 
find it better than any medicine. 

Lemon juice used according to this receipt 
will sometimes cure consumption: put a dozen 
lemons into cold water and slowly bring to a 
boil ; boil slowlj' until the lemons are soft, but 
not too soft, then squeeze until all the juice is 
extracted, add sugar to your taste, and drink. 
If they cause pain, or loosen the bowels too 
much, lessen the quantity and use only five or 
six a day until you are better, and then begin 
again with a dozen a day. After using five or 
six dozen, the patient will begin to gain flesh 
and enjoy food. Hold on to the lemons, and 
still use them very freely several weeks more. 

Another use of lemons is for a refreshing 
drink in the summer, or in sickness at any 
time. Prepare as directed above, and add 
water and sugar. But in order to have this 
keep well, after boiling the lemons, squeeze 
them and strain carefully ; then to every half 
pint of juice add one pound of loaf or crushed 
sugar, boil and stir a few minutes more until 
the sugar is dissolved, skim carefully, and bot- 
tle. You will get more juice from the lemons 
by boiling them, and the preparation keeps 
better. 



Rest Awhile. 



Come apart and rest awhile, men of business; 
believe me, there is no^ and then a profitable 
venture in doing nothing at all. In the power 
to put business aside, and abiding now and 
then in a perfect quiet, things sometimes solve 
themselves, when we give them that advantage, 

which refuse to come clear for all trying. We 
all know how, by simply taking some perplex- 
ity into the deepest silence this side of death 
—a good night's sleep— we can do better some- 
times than if we sat up and wrought at a task 
all night. When Matthew Murray of Leeds 
wanted to see his way through some sore per- 
plexity in his inventions, and all other efforts 
were of no use, he rested day and night from 
all noise, and all effort, except the effort an ac- 
tive man has to keep himself quiet ; and then 
the thing he wanted would steal in and look at 
him, and light on him, and stay as birds used 
to light on the old hermits, no more afraid of 
them than of the trees under which they sat. 



The following recipe is said to produce a 
good brown tone upon brass : The article, after 
having been thoroughly cleansed atd freed 
from all traces of grease, then polished, is dip- 
ped for about half a minute in a cold solution 
of 10 grams of hypomanganate of potash, 50 
grs. green vitriol, 5 grs. muriatic acid, and 1 
litre water ; then rinse well and dry in fine soft 
sawdust. If a reddish cast is desired, dip the 
article into a second bath heated to 60 degs. C, 
of 10 grs. chromic acid, 10 grs. chloric acid, 10 
grs. hypomanganate of potash, and 50 grs. blue 
vitriol (sulphate of copper) dissolved in 1 litre 
water. The latter mixture alone produces a 
light bronze. The article may afterward be 
heated in an oven, which operation, it is said, 
produces a very rich tone. 



I 



I 



AMERICAN RAILROAD JOURNAL. 




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ifmff EtUIUMDim. 



PXTBLISHED WEEKLY BY THE 

AMERICAN" RAILROAD JOURNAL CO., 
At 23 Liberty Street, New York. 



Subscription, pftr anniim, in advance 56 00 

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Purchases for the Amkbican Ratlboad Jouknal Co. are 
anthorized only by the written order of Geo. F. Swain, 
Treasurer; and I he Company will not be responsible for 
the payment of bills unless accompanied by such order. 

Subscribers are requested to report to our office any 
irregularity in receiving the Joornal. 

CoQtributed articles relating to Railroad matters gen- 
erally. Mining interests, Banking and Financial items, 
Agricultural development, and Manufacturing news, by 
those who are familiar with these subjects, are especial- 
ly desired. 

Payments for advertising and subscriptions should be 
made by check payable to order of the Treasurer. 



BRANCH OFFICE: 
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ized European Agent for the Joubnal. 



New York, Saturday, January 28, 1882. 



Entered at the Post Office at New York City at Second-Class 
Mail Matter. 



CONSOLIDATION IN THE SOUTH- 
../ WEST. 



flMl^ event of the we^k in railroad nnd 
J- financial circles was the purchase by 
Mr. U. P. Huntington and Mr. Jay 
Gould, jointly, of a controlling interest in 
the St. Louis and San Francisco Railway 
Company, ihe announcement of which 
was made on Wednesday, creating a de- 
cided sensation on Wall street. In July, 
1866, the Atlantic and Pacific Railroad 
Company was chartered hy act of Con- 
gress to build a road from Springfield, 111., 
by way of Albuquerque, over what is 
known as the 35th parallel route to the 
Pacific coast. The St. Louis and San 
Francisco company was organized in 
1876 and has been interested with the 
Atchiso!!, Topeka and Santa Fe company 
during the past two years pushing the 
construction of the 35th parallel line 
Westward from Albuquerque. Of late 
there has been considerable discussion 
and planning among the officers of the 
Southern Pacific, and of the companies 
interested in buildins: the new line, con- 
cerning an arrangement for stopping the 
construction of the latter and makinir in- 
stead a connection with tlie Southern 
Pacific near the Ctilorado River. One-half 
of the 8t<^k of the Atlantic and Pacific 
company is owned by the St. Louis and 
San Francisco company, and the other 
half by the Atchison, Topeka and Santa 
Fe. 

The purchase of a controlling interest 
in the St. Louis and San Francisco com- 



pany by Mr. Gould, representing the 
Missouri Pacific, and Mr. Huntington, 
representing the Southern Pacific, opens 
the way for working in harmony the 
Atchison, Topeka and Santa Fe and the 
two roads most directly afi'ected by the 
construction of the rival line, as originally 
proposed. The details of the transaction 
are not made known in full as yet, though 
the stock, bought through the banking 
house of J. & W. Seligman & Co., is 
said to have been of the threi^ kinds, 
common, preferi-ed and first preferred, 
and at the market rates for stock of the 
lower issues on the day of the sale, the 
purcha.se of a majority wouldi indicate a 
transaction amounting perhaps to about 
$6,000,000. It is said that under this 
combination the Atlantic and Pacific Rail- 
road will probably be e.xtended to the 
border of California, and then connect 
with the Soutnern Pacific, about 250 
miles remaining to be built to effect the 
connection at the Colorado River. • 

-^ 

WHO IS RESPONSIBIiE ? 

OOME time ago a lady called upon one 
*^ of the famous portrait paintei*s of 
Boston, to have her portrait painted. He 
gave her his terms to wliich she agreed 
and the time was arranged for her sit- 
tings. She went regularly, and for the 
firstj three sittings was very attentive to 
the wishes of the artist and he had stronjr 
hopes of making a picture worthy of his 
high reputation. At the fourth sitting, 
however, she began to criticise his work 
and make suggestions. At the remaining 
sittings she not jdone criticised and m«de 
suggestions, but luid one or more friends 
with her who claimed and exercised the 
same privilege. The artist being a man 
of great good sense, recognized the fact 
that he was employed by the lady, and 
wag taking her money; and consequently 
she had a right to dictate her wishes in 
the matter, and so long as he remained in 
her employ he must obey. 

It is a well defined maxim in business 
that the one who pays the money has 
the right to dictate to the employee, and 
the employee has no right to take the 
money unless he is willing to obey. 
This artist rigidly observed the sugges- 
ions of this lady and her friends, and the 
portrait was finished accordingly. At 
last it was finished and sent home. The 
lady and her friends were satisfied and 
the bill was pjiid. Some time afterwards 
a visitor, being shown the picture, noticed 
that the artist's name did not appear any 



where, and called the attention of the lady 
to this fact. This was a very serious 
omission as the reputation of the artist 
was such that his name was deemed 
needful to give character and value to 
the portrait. She therefore called at his 
studio, and informed him of the omission, 
at the same time requesting him to call 
at the house and place his name on the 
portrait, that people might know that it 
was his work. In the most polite manner, 
he reminded the lady that he had painted 
the portrait according to the suggestions 
of hereelf and her friends. He had not 
painted the portrait according to his own 
ideas. If he had done so he would gladly 
place his name on it, for then it would be 
his picture; but as he had painted it 
according to their suggestions it was not 
his picture but theii"8, and he had ao right 
to claim any honor attending it, and he 
certainly should not take any share of the 
disgrace, if any. He would cheerfully 
p.'iint the names of the ladies whose sug- 
gestions he followed, on it, because it was 
really their work, but he would not paint 
his own on, because it was not his work. 
The above incident, taken from the 
actual experience of a portrait painter, 
simply illustrates the pos'tion in which 
many men are placed. A man is made a 
superior officer of some railway. He 
makes the road his special study. The 
cars are lighted with candles or oil 
lamps. He knows that in case of an 
accident, it is a very easy matter for the 
light fancy-work in the cars to ignite 
from the upsetting of the lamp or the ba- 
ing brought in contact with the lighted 
candle. The cars are heated by either 
wood or coal stoves, which an accident 
may easily convert into a medium of 
total destruction of the car. No need of 
probable loss of life to enter into the cal- 
culation. It is quite sufficient for him to 
tjike into account only the proper care of 
property of which he has charge. He 
therefore wishes to adopt the safest way 
of lighting and heating cars, and is met 
by Suggestions so forcibly put that they 
become objections. The parties making 
these objections have the power to retain 
or remove this officer, and because of this 
he is obliged to do as they suggest and 
not as his iud^jment dictates. For vears 
the trains run back and forth and no ac- 
cident occurs. The directors and stock- 
holders are very much pleased with semi- 
antjual dividends. The officer is retained 
because he has followed suggestions, but 



^'f^J?''f?W^prr?*'^^'?'^FT^*^»T'5T^'''Tv"^r^^ 



52 



AMERICAN RAILROAD JOURNAL. 



all the time has ranklins: in his breast 
that he is not allowed to act accordinii: to 
his best judgment, and that some day, 
for no fault of his, he will stand before 
the woild a condemned man. That d:iy 
comes at last. The years of safety have 
come to an end, for two trains have 
collided, and in addition to the wreck of 
locomotives and cars, fire has been added 
by the upsetting of stoves and lamps, :ind 
wiiat might have been saved from the 
wreck is quickly devoured by it, and a 
number of persons are roasted to death. 
The pupers spread the ne\\'» before the 
community, and write editorials on th? 
management. The officer appointed to 
superintend may read some romnrks re- 
fiectin"' on his manasrement. But is il 
his managuineiit, or the management of 
others, to which his name is affixed ? 
Now^the portrait painter informed the 
ladies who meddled with his work that 
they might put their names to it as tiieir 
work, but he would not put his because 
he was merely the instrument in their 
hands. j 

Why not have this plan adopted in 
railn)tid mantigement ? If influential par- 
ties interfere with the man who is hired 
and supposed to know his business, let 
them do it with the knowledge that their 
names take the responsibility. Within a 
few davs a notable accident has occurred 
on one of our largrest railwavs. What 
the collision failed to do, fire accom- 
plished. Valuable cars were consumed 
by it, and far more valuable lives were 
ended. ! 

Who is to blame ? It is an easy mat- 
ter, as some of the officers and newspapers 
are doing, to place the blame on tlie 
brakeman of the express train for not 
going the proper distance to signal the 
approaching train. We do not propose 
to question the subject of his culpability 
in the matter, but to the editors of this 
paper, it seems very strange that a man 
of such small wages can be so responsible. 

We have a printer's devil, and when an 
accident occurs in our office so as to 
prevent the subscribers receiving tiieir 
paper on time, we have as much right to 
hold him responsible as a railroad man- 
agement has to hold responsible for an 
accident, one of its lowest grade and 
poorest paid officials. We claim that the 
responsibility rests higher than these 
subordinate officers. It rests with those 
M'hose authority is such that they are 
able to have la use ou the road all the 



appliances necessary for safety. If on 
the road in question the block s^'stenj had 
been in u.se there would liave been no 
collision. If the cars had been heated 
and lighted on the latest and most ap- 
proved plan, there would not have been 
the roasting of many persons to death. 
The brakeman is not responsible fur 
these things. Let those who are, place 
their names to the picture, but do not 
ask the poor brak«man to place his. 



I 



INCORPORATION. 



The Metropolitan Kail way Company of Ham- 
ilton county, Ohio, has been incorporated with 
a capital of $1,000,000. 

The North Cook County Elevateil Railway 
Company of CJiicago has been incorporated. 
Capital stock $1,000,000. The incorporators 
are : Eugene B. Payne, Edgar A. Fellows and 
Eugene J. Fellows ; also the South Cook Coun- 
ty Elevated Railway Company ; capital stock 
81,000,000. Incorporators : William W. Riley, 
Frank A. Bartholomew, and H. A. Edwards. 

A CERTIFICATE of incorporation has been filed 
at Columbus, Ohio, of the Chicago and Hocking 
Valley Railroad Company ; capital stock S20,- 
000,000. This is understood to be a consolida- 
tion of the Springfield Northern and the Day- 
ton and Hocking Valley schemes. The former, 
as contemplated, is a line from Springfield to 
Fort Wayne. The two lines come together at 
Clifton, 3 miles from Springfield. 

Articles of incorporation have been filed 
with the Secretary of State of Illinois, of the 
Peoria and Illinois River Shore Line Railway 
Company ; capital, $100,000, The proposed 
road will run from the North line of Peoria 
township to the South line of HoUis township, 
both in Peoria county. The principal office 
is to be in Peoria, and the corporators are : 
Gardner T. Barker, Edward S. Easton, Adolph 
Wonlner, James W. Johnson, Jacob Schwabac- 
her, John H. Francis, all of Peoria. 

Articles of association of the St. Louis and 
Carondelet Railway Company have been filed 
with the Secretary of State of Missouri, capital, 
$500,000. The length of the main line is to be 
about 11 miles ; the length of the branch road 
is to be about 4 miles, making a total of about 
15 miles. The road is to be broad-gauge. The 
incorporators are to be Edward F. Winslow, 
Jesse Seligman and James D. Fish of New 
York ; C. W. Rogers, James Dunn, A. C. Doug- 
las and John O'Day of St. Louis. 

A CEBTIFICA.TE of incorporation has been filed 
with the Secretary of State of Ohio, of the 
Spring Street and Mt. Vernon Avenue Street 
Railway Company of Columbus. The incor- 
porators are Jesse W. Dunn, Colonel Orland 
Smith, R. C. Hoffman, G. C. Hoover, Wm. Fel- 
ton and E. L. DeWitt. The proposed line com- 
mences at the intersection of Dennison avenue 
and Spring street, and extends thence to the 
corporation line. The capital stock of said 
company is to be $30,000 and the number of 
shares GOO. 

Articles of incorporation of the St. Louis 
and Lake Eiie Railroad Company were filed in 



the office of the Secretary of State of Illinois on 
the 23d inst. The capital stock of the company 
is $3,000,000, and it is proposed to construct 
a railioad from East St. Louis to connect with 
the Indianapolis, Decatur and Springfield Rail- 
way at a point near the East line of Mason 
county. The names and places of residence of 
the board of directors are : Geo. E. Leighton 
and J. Rogers Maxwell, New York ; Benj. S. 
Henning, Brooklyn ; and Edward F. Leonard 
and John W. Bunn, of Springfield, 111. The 
principal office of the company will be at East 
St. Louis. j 

Articles of incorporation of the Shawnee- 
town and Paducah Railroad Company were 
filed in the office of the Secretary of State of 
Illinois, on the 18th inst. It is proposed to 
construct a road from Shawneetown to a point 
on the West bank of the Ohio river, opposite, 
or nearly opposite, the city of Paducah, Ky., 
with a branch road to tie city of Metropolis, 
and also a branch to Eldorado. The principal 
business office is to be at Shawneetown, 111. 
The capital stock is $1,500,000. The directors 
are : Richard W. Townshend, Shawneetown ; 
Marshall M. Pool, Shawneetown ; Fred H. Sel- 
lers, Bowlesville ; Blnford Wilson, Springfield; 
W. P. Sloan, Golconda ; I. M. Biggers, Padu- 
cah ; Joseph W. Thompson, Paducah ; Edward 
F. Winslow, New York ; James H. Wilson, 
Boston ; John C. Bocker, Golconda ; E. F. 
Leonard, Springfield. 1 : 



CONSTRUCTION. 



It is said in Durban that an American com- 
pany has proposed to construct a railway from 
Delagoa Bay. 

It has been decided to extend the Jackson- 
ville and Southeastern Railroad from Litch- 
field, Ills., to Centralia. • 1 

The Chicago, Milwaukee and St. Paul Rail- 
way has reached Perry, Iowa, 137 miles from 
Marion, on the Council Bluffs Division. 

The Jefferson City and Little Rock is com- 
pleted for a distance of 25 miles, and the grad- 
ing is nearly finished to the Osage River. 

The Mexican National Railway is now oper- 
ating regular passenger trains 25 miles west of 
Laredo, and track is laid several miles beyond. 

A CONTRACT has been signed for the exten- 
sion of the Houston and Texas Central Railway 
to a connection with the St. Louis and San 
Francisco road. 

Messrs. Hobart, Green & Co., have the 
award for the construction of the Atlantic and 
Pacific Railroad from Vinita to the Arkansas 
River, a distance of 50 miles. 

Messrs. McMillan, proprietors of the Prince 
Edward Railway, have entered into a contract 
with a Pennsylvania iron company to deliver 
45,000 tons of iron ore by December next. 

The road-bed for the additional double track 
which the Pennsylvania Railroad is building 
between Philadelphia and New York is being 
graded along the Northern outskirts of Philadel- 
phia. ■ 1 ^^ 

The province of New Brunswick now has 984 
miles of railway in operation, said to be a 
greater mileage, in proportion to population, 
than that of any other province, state, or coun- 



AMERICAN RAILROAD JOURNAL. 



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53 



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try. New Brunswick has more miles of road 
than Portugal, Denmark, or Norway, and 
nearly as many as Holland, and more than 
either New Hampshire, Connecticut, or Ver- 
mont. There are eleven lines of road in the 
province, the Chatham Branch, 9 miles in 
lenf'th, being the shortest, and the Inter-colo- 
nial, 343 miles, the longest. 

T. B. Jones & Co., have the contract for four 
miles of the Virginia Valley Railroad, near 
Midway. Masons, Gooch & Hoge have 35 carts 
and mules and 35 convicts on their Valley 
Railroad work. 

Thk double track on the Providence and 
Worcester Railroad has been completed as far 
as the signal between Plummets and Whitins, 
where a ledge has been encountered which 
makes the work go on slowly. 

A MOVEMENT is OH foot to construct a railroad 
between Port Jefiferson and Patchogue. The res- 
idents along the proposed line have expressed 
their willingness to give the right of way. The 
cost of the labor is estimated at $5,000. 

Toe first cable car in Chicago was run on the 
South Side City Railway, on the 20th inst. 
The cars of that line wi!l be regularly run by 
the new process in a few days. The cable was 
manufactured by Messrs. Poole & Hunt, of 
Bjvltimore. 

At a recent letting of the New Orleans and 
Northeastern Railroad in Cincinnati, Dr. Alex- 
ander W. Carpenter, formerly of Baltimore, 
was awarded 12 miles of grading and trestling 
in Mississippi ; also, together with J. H.. Tob- 
ler, 13 miles on the same road in Louisiana. 

A COLOSSAL railroad scheme has been projec- 
ted in New Mexico, which contemplates the 
construction of 18 railroads in that Territory, 
all to be tributary to the Atchison, Topeka 
and Santa Fe Railroad. The capital stock of 
the company is $37,000,000, and^it is [claimed 
that $14,555,800 has been subscribed. 

A CORPS of engineers is at work surveying the 
new locomotive railroad of the Pennsylvania 
Coal Company, between Pittston and Hawley, 
Pa. The new route will be 50 miles long, and 
connect with the company's Lackawaxen branch 
running between Hawley and Lackawaxen, and 
leased by the New York, Lake Erie and West- 
ern Railroad. 

The Mexican Central Railway has reached a 
point 43 miles from El Paso. The sand hills, 
which were considered the most difficult part 
of the route South, have been surmounted, and 
the roari-bed has been completed for more than 
one-third of the distance to Chihuahua. The 
track is to be laid hereafter at the rate of two 
miles per day. 

The New York, West Shore and Buffalo Rail- 
road is being built by the North River Con- 
struction Company, of which Gen. E. F. 
Winslow is president. The officers of the com- 
pany are : Gen. Horace Porter, president ; 
Chas. Baird, vice-president ; Chas. Paine, gen- 
eral manager ; Walter Katte, engineer ; Alexan- 
der Taylor, secretary. The road is to be built 
from Weehawken to Buffalo, a distance 425 
miles. Grading is now being done between 
Weehawken and Syracuse, a distance of 280 
miles. It will be a double track road the 



whole distance. A 67 pound steel rail will be 
used. It is expected that the road will be in 
operation to Schenectady by the early fall. 



ORGANIZATION. 



The St. John's and Suwanee Railroad Com- 
pany has been organized to build a railroad 
from Melrose in Alachua county, Fla., through 
Gainesville to the Suwanee River, near Fort 
Fanning, a distance of sixty miles. 

At the annual meeting of the Portland and 
Ogdensburg Railway Company on the 17th inst., 
Samuel J. Anderson was elected president, 
with the following directors : Horatio N. Jose, 
Weston F. Miliken Jo.seph S. Richor, Joel 
Eastman, James P. Botler, Roswell M. Rich- 
ardson, WillardW. Thomas, Jr., Samuel Water- 
house, and Francis Fessenden. 

The grantees of the Laconia and Lake Vil- 
lage (N. H.) Horse Railroad charter have or- 
ganized with the choice of Albert G. Folsom. 
president; W. L. Melcher, treasurer and J. P. 
Hutchinson, clerk. The capital is fixed at 
$10,000, with the right to increase it to $30,000. 
The road will be two miles in length, and it is 
expected that ground will be broken early in 
the coming summer. 

At the annual meeting of the shareholders of 
the New York, Ontario and Western Railway 
Company, held on the 18th inst., the following 
persons were chosen directors for the ensuing 
year : Edward F. Winslow, Horace Porter, 
Charles F, Woerishoffer, Henry Villard, Henry 
Amy, Frederick Butterfield, John L. Nisbet, 
William Adams, Thomas C. Clark, Theodore 
Houston, Conrad N. Jordan, George B. Greer 
and Charles J. Cauda. . . 

The ISIanhattan Storage and Warehouse Com- 
pany, with a capital of $500,000, was organized 
on the 21st inst., the following named gentle- 
men being the incorporators: C. G. Francklyn, 
C. M. Fry, A. Iselin, R. T. Wilson, J. M. Brad- 
ley, W. H. Guion, W. Jay, A. P. Stokes, H. B. 
Hyde, J. J. McCook, J. A. Stewart, J, H. 
Rhoades, J. A. Bostwick, H. V. Newcomb, W. 
R. Travers, S. B. Punch, M. Bayard Cutting, 
R. B. Minturn, Fred. Sturges, C. D. Leverich, 
M. B. Brown, W. A. Wheelodk, E. R. Bell, H. 
A. Hurlburt, H. E. Hawley. The object of the 
company is to erect absolutely tire-proof ware- 
houses for the storage of merchandise and fur- 
niture. 



CONSOLIDATION. 



The directors of the Louisville, Evansville 
and St. Louis Railway Company of Illinois and 
Indiana (formed by the consolidation of the 
Louisville, New Albany and St. Louis and the 
Evansville, Rockport and Eastern Railroads) 
ar<j : Jonas B. French, F. B. White, Wm. J. 
Hart, James Wilson, of Springfield, 111., Ed- 
ward Cummings of Covington, Ky., Bennett H. 
Young, of Louisville, Ky., H. B. Housen of 
Saratoga, N. Y., Wm. Heilman and W. F. Nes- 
bitt of Evansville, Ind. The officers are : John 
Goldtwaite, Boston, president; St. John Boyle, 
Louisville, vice president. John Lyman of New 
Albany, secretary; and George F. Evans of Bos- 
ton, treasurer. The party of the first part has 
authority to build a road from New Albany, Ind. , 
to Mt. Vernon, 111. The party of the second part 



authority to construct a line from Evansville to 
Jasper and other points, with a branch to Rock- 
port, Ind. Both roads are partially built. The 
capital stock is $6,000,000. 

The Lehigh and Hud son and Warwick Val- 
ley Railroad companies have bee n consolidated 
under the name of the Lehigh and Hudson 
Railroad Company. The directors of the con- 
solidated company are : Grinnell Buit, presi- 
dent of the Warwick Valley; George R. Blanch- 
ard, vice president of the New York, Lake Erie 
and Western ; D. B. Halstead, president Na- 
tional Exchange Bank of New York ; Ex-Sen- 
ator Thomas C. Piatt; W. C. Sheldon, banker, 
of New York, John S. Martin, wholesale com- 
mission merchant. New York ; John H. Seed, 
wool-dealer. New Y'^ork; Garrett A. Hobart, pres- 
ident of the New Jersey Senate; F. A. Potts, of 
New Jersey; Richard Wisner and George W. 
Sanford of Warwick, Orange Co. ; Charles Scran- 
ton, of Oxford, N. J. ; and James B. Titman, 

of Sparta, N. J. The officers are: Grinnell 
Burt, president ; George R. Blanchard, vice 
president : D. D. Halstead, treasurer, and 
Thomas P. Fowler, secretarj'. The Warwick 
Valley Railroad extends from Graycourt, on 
the New York, Lake Erie and Western Railroad, 
to McAfee, Sussex county, N. J., and the Le- 
high and Hudson from the latter point to Bel- 
videre, on the Delaware River. 1 he whole line, 
which will be completed early in the spring s^o 
that trains can run over its entire length, will 
be 63 miles long. Regular trains will run over 
the lower portion of it early in February. 
Large stores of freight are now awaiting trans- 
portation over the line. Along its line in Orange 
county, New York, and Sussex and Warren 
counties. New Jersev, there are numerous 
mines, and the new road will ship an immense 
tonnage of ore. The line passes through a 
continuous mineral belt and a rich agricultural 
district. The Warwick Valley part of it has 
been doing for years the largest milk business 
of any road of its length in the country. 

^ 

Philadelphia and Reading Comparues. 



The following is the comparative statement 
of the Philadelphia and Reading Railroad Com- 
pany and the Philadelphia and Reading Coal 
and Iron Company for the month of December, 
1881 and 1880 : 

Profit /or montft. 

1881. 1880. 

Railroad traffic $834,454.67 $511,655.09 

Canal traffic 8.666.66 18,040.62 

Steam colliers 43.708.V!4 27,071.49 

Richmond coal bargea 1,115.16 Lose iM>4.24 



Total Railroad.Ck) $870.611. 31 «,619.692.72 

Reading Coal & Iron Co 66,931 .23 20, 766 . 93 



Total of aU. 



TONNAGE A PASSENGERS. 

Tons of coal on railroad 

Tons of merchandise 

Passengers carried 

Coal transp by stm colliers . , 

TONS OF COAL BCINED. 

By Coal and Iron Company . 
By tenants 



S937.542.54 

Month. 

760.344.17 

586,9-21.17 

926,608 

47,034.13 

. 383,839.08 
. 129,503.10 



Total mined 513,442.18 



J540,456.65 

Month. 
518,231.03 
436,211.03 
751,316 
41.990.06 

209,223.09 
112.071.07 

321,294.16 



The cancelled war debt and internal im- 
provement bonds which have been redeemed 
out of the proceeds of the four per cent loan 
created by the refunding bill enacted by the 
last legislature of Delaware amounted, on the 
18th inst., to $772,000, viz: war bonds, $413,000; 
Junction and Breakwater Railroad bonds, $220,- 
000 ; Breakwater and Frankfort Railroad bonds, 
$139,000. This leaves about $80,000 outstand- 
ing which have not been presented for pay- 
ment. 



ii^ -A .%*=:- V. 






■" »._^'>t'-«- ▼■■'•'I. W"'v^T'^ . ^^". •• . ■'•■ V" 

■*,. -'I. ',•'■■ ■ ;■ ■ ■■"■''■ ■';■-' 



-.?■■*' ■f- js -r 



54 



.■i^V-k>. 



.«»iLi 



AMERICAN RAILROAD JOURNAL. 






^- New York Stock Exchange. 

V .^ (Thursday 'tr quotations follow money article.) 
; 5' Clotittff Prices Jor the week ending Jan. 26. 

<./' ' Th.l9.F.2f.Sat.2l.M. 23.TU.22.W.25. 

>4dMa8 l^'ress 148 147 148 

Albany and Susq.. 133 

Ist mortgage 

mortgage 



2d 



93^ 



Uli 



94 



85 
100 

95 

94>i 94 H 



100 

63^ 



84 
118?i 



107 

88 ?i 
114 



24 
82 



American Express 

Atlantic * Pac. Tel 

Burl., C. R. & Nor 82 >i 

Ist mortgage Ss.. 100 ...-. 

Canada Southern . . 55^ 65 55 
1st mortgage guar 96% 9&}i 95% 

Central of N. Jersey 96>i 96>^ 

Ist mort. 1890 

7s, consol. ass... 114% 114% 114% 

7b. convertible ass 

78. Income 104 ia3>^ 103 103% 

Adjustment 109>J 

Central Pacific 90% 90% 90% 87 >i 

68, gold 114^4 114 

1st M. (San Joaq) 108 

- IstM. (Cal. & Or.) 

Land grant 6a ... 106 23% 

Chesapeake & Ohio. 25 25 24 

Is, series B 82% 82 82^ 84% .... 

Chicago and Alton 134 134 133% 131 >4 132% 

Preferred 

Ist mortgage 

Sinking Fund 115 

Chi,, Bur. & Quincy 137 136% 136% 135 134% 135% 
78. Consol. 1903 126% 

Chi.. Mil. k St. Paul 109 10S% 108% 106% 106% 108 

Preferred 121% 

1st mortgage, 8s 

2d mort., 7 3-108 

78, gold 123% 

IstM. (La. C. dlT) 118 118% 118% 

1st M. L & M. diT.) 

Ist.M. (L & D. ext.) 120 

lBtM.(H.&D.div.) ...... 

lstM.(C.&M.div.) 

Consolidated S. F. 121% 120% 119% 

Chi. & Northwestern 127% 126% 126% 125% 126% 128% 

Preferred 139 138% 137% 139 

1st mortgage 110% 

Sinking Fund 6s 

Consolidated 78.. 133 ..... 134% 

Consol. Gold bo'ds 125 

Do. reg 

Chi., R. lel. & Pac. 133% 13:i% 133% 132% 132% 

6s. 1917. c 126 125 126 125 

CleT.,Col..Cin.*Ind 80 ^i 79% 80% 

1st mortgage 

Clev. & Pittsburg gr 137% 135 134% 

7s. Consolidated 

4th mortgage 

Col..Chi..&Ind.Cent. 20% 20% 19% 19% 19% 19% 

1st mortgage 

2d mortgage 

Del. k Hud Canal. I07>i 107 106% 106 106 106% 

Beg. 78. 1891 . 113% 

Beg. 78. 18«4 104 104 

78. 1894 117% 

Del. . Lack. & Western 125% 125 124% 123% 123 l24% 

2d mortgage 7s 

78. Consol. 1907 

Erie Railway 

1st mortgage 

2d mort. 58, ext 

, 3d mortgage • 

4th mort. 5s. ext 

Sth mortgage 112 

78. Consol. gold 130 129% 

Great West. 1st mort 

2d mortgage 

Hannibal* St. Jo.. 96% 96% 96% 95% 95% 

Preferred 109% 108 108 107 107 

88. Convertible 109 

Houston & Tex. Cen 84 

Ist mortgage Ill 

2d mortgage 

lUinois Central... 135% 135 V,' 135 133% 132% 134 '4 
LakeShoreiMichSo 114% 114% 114% 112 111% 112% 

Cunsol. 78 

Consol. 78, reg 

2d Consolidated 

Leh. * W. B. 78, Con 

Long Dock bonds 

LouisviUe k Nash. 97% 96 95% 93% 93% 95 
7s, Consolidated . 122% 

ManhatUn 49% 50 50 62 

M»t. Elevated 86% 87 87 

l8t mortgage 100% 101% 100% 101 101 

Michigan Central.. 88% 88% 87% 86% 85% 

78, 1902 126 

M. S. & N. List, «. F 

Morns k Essex.... 122% 122 122% 122% 122 

l8t mortgage 

2d mortgage 

78 of 1871 

78,Cou>ertible 



N.Y.Oen.&Hud,R. 134% H4% 1.33% 131% 130% 

Hs.ri F. J«««i..,. 102% 103 103 

6s. S. F.. 1887 110% no 

1st mortgage 134% 

1st mortgage, reg 

N. Y. Elevated lOS 105 

1st mortgage 116% 118% 

N.Y.&Harlem 

Preferred 

1st mortgage 

1st mortgage, reg 

41% 41% 11% 40 40 

82% - 

»9% 

96% 



131' 



134% 



107 
116% 



82 
99% 



82 
99% 



80 
98% 



80% 
99 



40% 

80 H 
99 J^ 



171 171 170 171 



75 
36 



35% 
74% 

36% 



34% 

72% 

34% 



34% 

71% 

35 



35 

72% 

34% 



il>i 



115% 
117% 
41 



40% 41% 41% 



108% 



109% 



195 
62% 



62% 



195 



134 136 139 



40 

58 

102 



4 
43% 



62 

57% 

42% 



40 

67% 
102% 

40 



69 
102% 



60 
45% 
64 '4 
l02% 



111 

96 

107% 

83% 



N. y.. Lake Erie* W 

Preferred 

2d Consolidated . . 
New 2d 5ci fund . . 

N.Y..N.Hav'n&Hart 

North Mo. l8t mort 120% 

Northern Pacific ... 36 % 
I'relerred 74% 

Ohio * Mississippi. 36% 

Prelor «<l. 

2d mortgage 

Consolidated 7s 

Consol. S. Fund 

Pacific Mail S. S. Co 41% 

Pacific R. R. of Mo 

Ist mortgage 108% 

2d mortgage .*. 

Panama 

Phila. & Reading.. 59% 53% 64% 
Pitts.Ft.W.&Chi.gtd 134 ^i 

Ist mortgage 

2d mortgage 

3d mortgage 130 

Pullman Palace Car 144 142% 140 

Quicksil'r Min'g Co 14 14 

Preferred 62% 62 

St. Louis & San Fran 

Preferred 

1st Preferred 102% 

St. L.. Alfn&T. H 

Preferred 

Ist mortgage 

2d rnort. pref 110 100 

Income bonds ..., 

St. L.. Iron Mt. &S 

1st mortgage 118 

2d mortgage 109 109 

Toledo and Wabash 

Ist mortgage 

2d mortgage , . ... 

7s. Consolidated.. 106 105 

St. Louis Division 

Cnion Pacific 119% 118% 118%'117% 116% 

Ist mortgage 116 J^ 115% 115% 

Land Grant 7s 113% 

Sinking Fund 88 

United States Ex 77 78 T8 

Wabash. St. L.& Pac 36% 36% 36% 35 35 

Preferred 69% 69 68% 66% 66% 

New mort. 78 106 

Wells-Fargo Ex 130% 129 

Western Pacific b'ds 110,^ 

Western Union Tel. 82 81% 80% 79% 79% 80% 
78..S.Fconv.,1900 118 

Fedeb.\l Stocks : — 

U. S. 48. 1907, reg 118% 118% ;.... 

U. S. 48, 1907, coup. 118% 118% 

U. S. 4>^s. 1891, reg. 114% 115 

U.S.4%8, 1891, coup 114% 

U. S. 58, 1881, reg 

U. S. 6s, cont'd at3% 102% 102% 102% lJJ% 102 J4 

U. S. 66 cont'd at3 ;i 101 

Dt. of Col. 3-658, reg 

Dt. ofCol.3.658,coup 



N.Y.& New England 61% 61% 60 59% 

7s 117% 

Northern N. H 109 

Norwich* Worcester 155 ,. 

Ogden k Lake Cham 

Preferred 

Old Colony 125 125% 125% 127 

Ph.,Wil.&Balt.($50). 62% 

Portl'd.Saco & Ports 

Pueblo & Ark Val 

78 116% 

Pullman Palace Car 144 ^i 141 134 136 137 

Union Pacific 118% 118 117 



120% 120% 120 



Land Grant 7s 

Sinking Fund 8s. .. 

Vermont & Canada 

Vermont* Mass 134 

Worcester & Nashua 58% • 58% 

Cambridge (Horse) 

Metropolitan(Hor8e) 77 77 76% 

Middlesex (Horse) 

Cal.&HeclaMin'gCo 243% 243 243% 

Quincy 64% 53% 62% 61% 49% 62% 



/I 



117% 117% 



105 



117% 
115 



80 

36% 
67% 



123 

55% 

86 
101 

85% 
121% 



I Boston Stock Exchange. 

j ' Price* for the Week Ending Jan. 25. 

Th.l9. r.20. 8at.2l.M.23.Tu.24, 
Atch..Top.&San.Fe. 95%' 94% 94% 93% 92 

Ist mortgage 120 

2d mortgage 

Land Grant 7s 116% 116% 116% 

Boston A; Albany... 166 165% 166 164 

78 reg 

Boston and Lowell 103 102 

Boston* Maine 146% 145 145% 

Boston* Providence 163 162 

Bos'n,Hart.*Erie78 68 .... 66% 65% 

Burl.* Mo.R.L.G.78 

Burl.* Mo.R.in Neb 

6s, exempt 

4s 



W.25 
91% 



166 



64% 



103 

162 
65% 



Philadelphia Stock Exchange. 

Closing Prices for the Week Ending Jan. 25. 

W.18. Th.l9. r.20.Sat.21.M.23.Tu.24 

Allegh'y Val. 7 3-lUs 120 1201. 

7s. Income 67 

Camd'n* Am. 68. '83 

68,1889 

Mort. 68,1889.... 114 114 11.3% 

Camden * Atlantic. 25 

Preferred 

1st mortgage 

2d mortgage 

Catawissa 18 

Preferred 63% 

7s, new ',, 

Del. * Bound Brook 

78 

Elmira&Williamsp't 

Preferred 

Hunt. * B. Top Mt 

Preferred 29% 28% 29 

2d mortgage 

Lehigh Navigation . 43 f^ 43 43 5^ 42% 42% 

68,1884 105% 105% 105% 104% 

Gold Loan Ill 111 m 

Railroad Loan 

Conv. Gold Loan 112% 

Consol. Mort, 7s 117 116% 116% 

Lehigh Valley 62% 62% 62% 62% GH^ 62% 

l8t mort. 68, coup » 120 

let mort. 68, reg 

2d mort. 78 134 134 

Consol mort. 68 

Con8ol.mtg.6s,reg ... . 118 

Little Schuylkill 

Minehill*Sch.Hav'n 60 60 60 

North Pennsylvania 00 601^ 60% 61 62% 

1st mortgage 68 

2d mortgage 7s 

Genl. mtg.7s,coup 

Genl. mtg. 7s, reg 

Northern Central. 
58 

Northern Pacific. 
Preferred -. 



50% 
96% 

36% 
"% 
62^4' 



60% 50% 



36 Ji 

74,% 
62% 



36% 
75 

62 \>i 



35% 

74 ^4 

62% 



irennsylvania R. R 

1 si mortgage 

i^cn'l mort 120% 

Gen'l mort reg 

Consol. mort. 68 

Consol. mort. reg 

Pa.State 6s 2d series 

do SdserJes 100 

do 58, new 116 

do 3s. 



35 34% 

72 Ji 71% 

61% 61% 



117 



125% 



Chi.,Burl.& Quincy 137% 136% 137 
78 



136 134% 135 



78, Con8ol.uated ntchburg 133 



Cin.,Sand&Clev(|50) 27% 27% 26 26% 25 

Concord ($50) 

Connecticut River 165 

Eastern :i6% 35% 34 35 34'i 34 

New 4% Bonds 107% "... 



134W 



Phila. & Reading... 29% 30 31% 32% 31% 31% 

1st mortgage 6s 

7s of 1893 

78, new convert 

Consol. mort. 7s 125% .. 

C0U80I. mort. reg , 

Gen'lmort. 6s 98% 98% 98% 98% 98^ 98% 

Philadelphia * Erie 19 

Ist mortgage 5s. . 105% 

2d mortgage 7s... 114 114 

Pittsb.,Cin.&St.L.7« 122% 123 

Pitt8.,TitU8V.&Bufif. 20% 20% 20% 20% 19% 19% 
78 

Schuylkill Navit'n 

Preferred 

68.1872 

08,1882 89 90 .... 89 r88% 

United Co. of N.J. , 184 184% 184% 184% 184% 

Hestonville, (Horse) 

Cheetnut&Wal.(do) 

I'lrueji *Coate8(do) 



r 



>•■-'-« i^iit'Wr^iiilii'iiifiifii'iT'i^i^i ■nlni•Mi■'-^ i i''iL&fMftTvtf' 



AMERICAN RAILROAD JOURNAL. 



'■\ ■ 



55 



-, •■! '•■ 



i 



s 



123 

105 Ji 

58>4 



125 

105 1^ 
58>i 



114 lU 



Baltimore Stock Exchange. 

Closing Prices for the Week Ending Jan. 17. 

W. 18. Th.lO.F.20. Sat.21.M.23.Tu.24 

Baltimore* Ohio.. 195 195>i 

68.1880 

68,1885 

Cenlral Ohio ($50) 

1st mortgage Ill 

Marietta & Cincin'ti 

Ist mortgage. 7s 123*^ 

2d mortgage, 78.. 105 >^' 105 ii 105 Ji lOSY, 
3d mortgage, 83 59 58^ 68;^ 

Northern Can. ($50) 50Ji 

2d mort., 68 1885 

3d mort., 6s. 1900 

6a, 1900, gold 114 

68, 1904, gold 

Orange & Alex. Ist 

2d mortgage. 63 

3d mortgage, 88 

4th mortgage, 8s 

0.,Al6x.&Manas'8 7s 

Pitts.fc Connellsv.78 

Virginia 6s, Consol. 63^ 63^4 63 

Consol. coupons. . 71?^ C9»i 61?^ 63 

10-40bonds 39}^ 40*^ 40 

Defd Certificates 16 >i 16 >i 16>i 

Western Maryland 14 Ji 

1st M., end. by Bait , .... ..... 

Zd AX.. QO . •••.. ..*•• .•••• .'a...*.. ^^ . 

Od ill ., do . ....a » » . • 3 ...a. .a......*^.)!.. 

1st M.,unendors'd t.'I. .«... 

2dM.,end.WashCo 

2d M.. preferred .;. 106>i 

City Passenger B B .i... ....'^ 



633^ 

61 

40 



65 
63 Ji 
43 



London Stock Exchange. 



Dec. 

Baltimore k Ohio (sterling) 114 

Cairo k Viencennes com. stock 36 
Do. preferred 5 per cant ..... 90 

Central of N. J. $100 share 93 

Do. Cons. Mortgage .-...115 

Do. Adjustment Bonds 104 

Do. Income Bonds 104 

Det. ,G'd Haven & Mil. Equip bdsll2 
Do.Con.M.5p.c.,tiir83aft'r6p.cll0 

Illinois Central ^100 shares 134 >i 

Lehigh Valley Cons, mortgage.. 115 

Louisville k Nashville mort 6s. 105 
Do. Sink. Fund bds /S.&N.Ala)103 
Do. cipital stock ?100 shares. 105 

N. Y. Cent. & Hud. B. mt. bds. .134 

Do. .«100 shares 135 

Do mort. bonds (stg.) 123 

N.Y..Lake Erie k West., $100 shs 42 'i 
Do. 6 p. c. pref. $100 shares . . 87 
Do. 1st Con. Mort. bds (Erie) .131 
Do. do. Funded Coupon bds. 127 
Do. 2d Consol Mort. bonds. . .102 
Do. do. Funded Coupon bds. . 97 
Do. Gold Income bonds 95 

N.Y.,Pa.& Ohio 1st mort. bonds. 50 
Do. Prior Lien bds (sterling).. 104 

Pennsylvania, $.50 shares 6J 

Do. Con. Sink Fund Mort 119 

Philadelphia k Beading $50 shs 35 

General Consol Mortgage 116 

Do. Improvement Mortgage. .103 
Do.Gen.Mtg.'74,ex-d««rdcoup. '.'91^ 
Do. Scrip for the 6 def. >^ coup. 95 

Pittsb., Ft. W. k Chi. Eq. bds... .105 

St. L. Bridge 1st mort. gold b'd.l26 
Do. Ist pref. stock 102 

Union Pa. Land Grant 1st. mtg.115 



?lo8ing Prices . 



30 
116 

38 

92 

98 
117 
109 
107 
114 
112 
135 Ji 
119 
107 
105 
107 
137 
136 
125 

43 

89 
13J 
129 
104 
100 
100 

51 
108 

61 
121 

36 
118 
105 
100 >i 
100 
109 
128 
104 
119 



Jan 
114 

36 

90 

93 
115 
104 
1(14 
112 

no 

132 
115 
105 
103 
103 
134 
132 
120 

40 

84 
131 
127 
100 

97 

95 

45 
104 

62 
118 

32 
116 
103 
100 

92 
105 
126 
102 
115 



6. 
116 

38 

92 

98 
117 
109 
107 
114 
112 
133 
119 
107 
105 
105 
137 
134 
122 

86 
133 
129 
102 
100 
100 

46 
108 

63 
122 

33 >i 
118 
105 
101 

97 
109 
128 
104 
119 



AMERICAN RAILROAD JOURNAL. 



Financial and Commercial Review. 



Thursday Evening, Jan. 26, 1882a 
The rate for call loans on stocks during the 
forenoon was 4@5 per cent, and on United 
States bonds 2@3 per cent. Time money on 
stocks was loaned for four months at 5 per 
cent Prime mercantile paper was 5@5i per 
cent. In the afternoon the rate was 4 per 
cent, but in the last hour fell to 3 per cent, 
and at the close stood at 3 J per cent. 

In the foreign exchange market, short ex- 
change was about steady at 4.88i@.489, while 
long drafts were rather heavy at 4.83|@4.84}, 
the preferred rates of the prime drawers being 
4.85 and 5.89J. Cable transfers are 4.89jr^ 
4.90. and prime commercial bills 4.82@V- The 
market for continental bills is firm, with actual 



rates as follows : francs, 5.13|@,5.14| and 
5.19f@5.20 ; marks, 94|@| and 95|@| and 
guilders, 40 and 40 1. 

At the special meeting of the stockholders and 
directors of the Chicago and Grand Trunk Rail- 
road Co., held in Chicago on the 18th inst., 
it was decided to prepare a second mortgage of 
$6,000,000, secured by bonds running forty 
years, with interest at 5 per cent per annum, 
payable semi-annually. At the meeting $6,- 
000,000 out of $6,600,000 stock was represented. 
The money obtained by the mortgage will be 
used in paying ofE a $2,000,000 mortgage at 5 
per cent and in providing new rolling stock 
and a superior equipment. S« venty miles of 
track will be laid with steel rails, thus making 
an all-steel track. Forty engines and 1,000 
freight cars will be added to the rolling stocli 
before August next. ;- y;--- - 

The Comptroller of the Ctirrency has author- 
ized the following National Banks to begin bus- 
iness: Hudson National Bank, of Hudson, Mas- 
sachusetts, capital,, $100,000;. Merchants' Na- 
tional Bank, of Dunkirk, New York, $100,000 ; 
Springfield National Bank, of Springfield, Ohio, 
$100,000. . ■ -^^_ r ::v;: .^ v^^f^ \ :. ^;- ,.- , 

The statement of the I*hiladelphia and Read- 
ing Companies for the month of December, 
1881, being the first month of the current fis- 
cal year, shows that the total receipts of the 
Railroad. Co. were $1,850,888.73,'* and the ex- 
penses, excluding rentals and interest, $980,- 
277.42, leaving a profit of $870,fill.31. The 
gross receipts of the Coal and Iron Co. were 
$1,380,788.55, and the expenses, including in- 
terest, $1,313,857.32, making the profit for the 
month $66,931.23. The profit of both compa- 
nies for the month was $937,542.54, a gain of 
$397,085.89 as compare! with December, 1880. 

The receipts of the Staten Island Railroad and 
Ferry Co. for the year 1881 were $304, 000, and the 
expenses (including $50,000 for a new ferry 
boat) $224,000, leaving a balance of $80,000. 
Excluding the boat there is a surplus of $130,- 
000 ; deducting from which $21,000 for inter- 
est on the bonded debt, leaves a surplus for the 
year of $109,000, which, on a capital of $210,- 
000, shows a profit of 50 per cent per annum. 

From the report of the Railroad Commis- 
sioners of Minneasota we learn that for the 
year ending June 30, 1881, the number of miles 
operated in the State was 3,140, an increase of 
147 miles over the preceding year. The gross 
eammgs during the same time were $13,921.- 
339, an increase of $3,146,513 ; and the net 
earnings, $5,580,923, an increase of $1,110,498. 
The number of acres sold was 381,587, a de- 
crease from the former year of 125,364, and 
the receipts therefrom $1,333,564, a decrease of 
$41,804. The sales of lands is the only item of 
business that shows a decrease. This was large- 
ly compensated for by sales in the last half of 
1881, the Manitoba Railway Company alone 
selling 47,695 acres and receiving in cash $87,- 
983 in the six months ending December 31, 
1881. All the railroads of the State have been 
greatly improved by relaying tracks with steel 
rails and new iron and by other betterments. 
During the j'ear there were 178 miles of new 
railroad completed in the State, and nearly as 
much is graded or under way. The total num- 
ber of miles in operation December 31, 1881, 



was 3,278. The State revenue derived from 
railroad taxes for the calendar year 1880 was 
$323,443, an increase of $74,000 over 1879. For 
the year 1881 it will approach $400,000. This 
tax will in the near future be sufficient to pay 
the interest on the State debt, including the 
latelj' refunded State railroad bonds, and also 
to pay the ordinary executive, judicial and leg- 
islative expenses of the State Government. 

The gross earnings of the Richmond and 
Danville Railroad for the quarter ending De- 
cember 31, 1881, (including $15,587.45 from in- 
terest on investments) were $1,130,613.52, the 
expenses $590,211.(53, and the net earnings 
$540,401.89; from which deduct interest on 
bonded and floating debt, $87,110.34; rent of 
Piedmont Railroad, $15,000 ; interest North- 
western North Carolina Railroad, $195 ; rental 
North Carolina Railroad, $65,000; rental Atlanta' 
and Charlotte Air Line Railroad $116,374.98 ; 
rental Richmond and York River Railroad, 
^21,462.48— total, $30^,142.80, leaving a surplus 
of $235,259.09. 

The payment of the railroad bonded debt of 
Minnesota having been completed by the issue 
of new bonds, the old bonds have been destroy- 
ed. Out of 2,275 old bonds 2,152 were redeem- 
ed by the issue of 3,815 new bonds And the- 
payment of about $300,000 cash. The whole 
amount ot bonds and money paid out in re- 
demption of old bonds, settlement of claims 
against the railroads and cash payment of cou- 
pons is $413,000. The State has invested in 
the new bonds $1,154,000. This aggregate cov- 
ers half the amount of. the old bonds with in- 
terest for twenty-three years. 

The bonded indebtedness of Yuba county, 
Cal., amounting to $131,000 has been refunded 
from 8 to 6 per cent interest, payable in 20 
years. .■\.'- .■- . ^.i ; : ■ j _ 

The valuation of New Jersey in 1881 amount- 
ed $527,455,222, which is an increase of ne^arly 
nine million over 1880, and is higher than the 
valuation of 1879, but lower than the valuation 
of any other year except those mentionied since 
1869. ^' ,U • V ) .':: 

The president of the Denver and Rio Grande 
Railway Company has issued a circular in which 
he states that the finances of his company have 
always been kept entirely distinct from those of 
the Mexican companies, that no money is ow- 
ing it by either of these companies, and that it 
does not owe any money to them or either of 
them. The entire unfunded liabilities of the 
Denver and Rio Grande Railway Co.. including 
January coupons and dividends and back cou- 
pons and dividends not yet demanded, are $2,- 
224,015; against which the company has on 
hand, in cash, authorized London Exchange 
and other equivalent of cash, $2,000,865 ; or 
including mail pay due by the United States 
Government to November 30, $2,229,834. It 
owes n money to any bank, wherever situated 
except $125,000 to a New York bank, which 
bears 6 per cent interest, and is due in April. 
The same bank has now on deposit nearly 
fourfold that amount to the credit of this com 
pany. Besides the above cash and equivalent 
the company has other resources amounting to 
$3,803,145, applicable to the completion of its 
lines (on which a large amount of work has 
already been done) and of which sum it is esti 



^.-r.."i".ir-j = ; 



- itp«H9Bi^.7.«|iii«ii .!.*iiJ«|i .nqpiif^U'.**. 



56 



AMERICAN RATLROAD JOURNAL. 



mated only $1,927,800 will be required to com- 
plete the Utah connection. 

From a return recently published we learn 
that the street and road tramways in the United 
Kingdom have, during the six years that they 
have been in use in that country, shows a remark- 
able development. On the 30th June, 1881. they 
had an authorized share capital of £7,602,509, 
of which £5,096,030 is paid up, whereas on 
June 30, 1876, the authorized share capital was 
only£3,141,':00, of which £1,702,879 was paid 
up. Adding in the sum raised by loans and de- 
bentures, the total authorized capital now 
amounts to £10,906,575. The total amount 
expended is £6,939,838. The length of miles 
open for traffic has risen from 158 in 1876 to 
483 in 1881. The companies own 15,220 horses 
now as compared with 9,222 in 1878, 40 loco- 
motive engines now again.<-t 14 in 1878, and 2,- 
045 cars now against 1,124 in 1878. The num- 
ber of passengers carried has increased from 
146,001,223 in 1878 to 205,623,510 in 1881 ; the 
gross receipts from £1,145,465 to £1,576,301, 
the working expenses from £868,315 to £l,2-'^9,- 
896, and the net receipts from £230,956 to £336,- 
405. 

The receipts into the State Treasury of Cali- 
ifornia for the year ending June 30, 1881, (in- 
cluding $1,078,305.37 balance from the previ- 
ous year) were $6,365,608.59, and the expendi- 
tures $5,385,118.82, leaving a balance in the 
treasury June 30, 1881, of $980,489.77. 

Attention is called to the yearly statement 
of the Liverpool and London and Globe Insur- 
ance Company, which, among other features, 
shows assets of nearly $5,000,000 in the hands 
of United States Trustees. Real estate fur- 
nishes one-fifth of this amount. 

The closing quotations on Thursday were : 
Adams Express, 145@149; American Express, 
93@94 ; Chicago, Burlington and Quincy, 134J 
(3)135; Canada Southern, 53^@53|; Chicago and 
Northwestern, 127^@127g;do. pref., 139@139|; 
Chicago and Alton, 135^^134 ; Central of New 
Jersey, 94;@95; Central Pacific, 88|@89i; Chi- 
cago, Milwaukee and St. Paul, 107^@1073 5 
Cleveland, Columbus, Cincinnati and Indiana- 
polis, 79A@80J; Columbus, Chicago and Indi- 
ana Central, 19J@19|; Delaware and Hudson 
Canal, 106A@106|; Delaware, Lackawanna and 
"Western, 124J@124J; Hannibal and St. Joseph, 
94|@95; do. pref., 107^@108; Illinois Central, 
133^@134 ; Lake Erie and Western, 34@34J; 
Lake Shore and Michigan Southern, 112@112J; 
Metropolitan Elevated, 87@.88 ; Manhattan El- 
evated, 54i@5;j ; Michigan Central, 86|@86A; 
New York Elevated, 106@110 ; New York, Lake 
Erie and Western, 40]@40| ; New York Cen- 
tral and Hudson River, 1303@130J ; Northern 
Pacific, 35@35i ; do. pref., 72^(a),73; Ohio and 
Mississippi, 34@@35 ; Panama, — @195 ; Pa- 
cific Mail, 41J@41J; Texas and Pacific, 47@.48; 
Union Pacific, 117j@117| ; United States Ex- 
press, 78@79J ; Western Union Telegraph, 80i 
@80| ; Wabash, St. Louis and Pacific, 36@36J; 
do. pref., 67|@68 ; Wells-Fargo Express, 127@ 
130. , 

The following quotations of sales of Railway 
and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 

New York. — Atlantic and Pacific 1st, 97 ; 
American Dock and Imp., Co., 99 4 ; Atchison, 



Colorado and Pacific Ist, 97 ; Boston and New 
York Air Line pref., 63 ; Buffalo and Erie 7s 
new, 124 ; Cairo and Fulton 1st, llOJ ; Cen- 
tral Pacific, State Aid bonds, 102J ; Chicago, 
St. Paul and Minneapolis 1st, llli : Chesa- 
peake and Ohio 1st pref., 34; do. 2d pre!., 25 ; 
do. 1st. Series A, 103|; do. cur. int., 50J; Chi- 
cago, St. Paul, Minneapolis and Omaha, 35 J; 
do. pref., 100.^ ; do. consol., 99|, Central Iowa, 
35 J ; do. 1st, 114 ; Chicago, St. Louis and New 
Orleans, 81} ; Chicago and Eastern Illinois, 113; 
do. 1st, !04 ; Chicago and Northwestern S. F. 
5s, 100} ; Cleveland, Columbus, Cincinnati 
and Indiana consol., 124 ; Columbus, Chicago 
and Indiana Central Income, 72^; do. 1st, Trust 
Co. certif. ass. sup., 122 ; Chicago, Milwaukee 
and St. Paul 1st, La C. and Dav. div. 94; do. 
1st, S. M. div., 104 ; do. Chicago and Pacific 
W. div., 95J; Denver and Rio Grande, 70J : 
do. 1st, 114 ; do. 1st consol., 104 ; Danbury and 
Norwalk, 65: Delaware and Hudson 1st, Penn. 
div.j 128 ; East Tennessee, Virginia and Geor- 
gia, 14| ; do. pref., 24|; do. inc., 56 ; do. 5s, 
79.} ; Evansville and Terre Haute 1st, 80 ; do. 
1st, 97 ; Green Bay, Winona and St. Peter, 14 ; 
do. 1st, 95 ; Gulf. Colorado and Santa Fe 1st, 
107J; Houston and Texas Central Gen'l mort., 
99 J ; Indiana, Bloomington and Western, 46; 
do. 1st, 89} ; International and Gt. Northern 
1st, 107 ; Indianapolis, Decatur and Spring- 
field. 1st, 105 ; Illinois and Southern Iowa 1st, 

102 ; Kansas Pacific 1st consol., 103 1 ; do. 6s, 
Denver div. a.ss., 108 J; Keokuk and Des Moines 
pref., 49 ; Lehigh and Wilkesbarre consol. ass., 

108 ; Louisville, New Albany and Chicago, 75; 
Long Island, 50^ ; Lake Erie and Western, 34; 
Mobile and Ohio, 33 ; do. 1st deben., 111} ; 
do. 1st mort., 96 ; Marietta and Cincinnati 2d 
pref.,' 7; Manhattan Beach, 25 ; Minneapolis 
and St. Louis,;20 ; do. pref., 60 ; do. 1st, 115 : 
do. Iowa Ext. 1st, 111 ; Missouri, Kansas and 
Texas, 36 1 ; do. consol. 7s, 106^ ; do. 2d, 70 ; 
do. gen'l mort. 6s, 82| ; Missouri Pacific, 102}; 
do. 1st consol. ; 103} ; do. 3d, 112 ; Memphis 
and Charleston, 79^ ; Milwaukee, Lake Shore 
and Western, 47} ; Metropolitan Elevated 2d, 
100} ; Michigan Central 5s, 97J; New York, On- 
tario and Western, 26 J; Norfolk and Western 
pref., 55 ; do. Gen'l mort., 102|^ ; Nashville, 
Chattanooga and St. Louis, 83 ; do. 1st, 115 ; 
New Orleans Pacific 1st, 90 ; Northern Pacific 
1st, 97 ; New York City and Northern Gen'l 
mort., 81 ; Ohio Central, 24 ; do. 1st, 97| ; do. 
inc., 45; Oregon and Transp., 65 ; Oregon Rail- 
way and Nav., 138 ; do. 1st, 106; Ohio and Mis- 
sissippi Springfield div. 1st, 120 ; Ohio South- 
ern Lst, 90 ; Peoria, Decatur and Evansville, 
33|; do. 1st, 103 ; Pittsburg, Bradford and Buf- 
falo lst, 93; Quincy and Toledo 1st, 106; Rome, 
Watertown and Ogdensburg, 21 ; do. 1st con- 
sol., 91 ; Richmond and Allegany, 28 J ; do. 1st, 

103 ; Richmond and Danville, 202; do. W. P., 
180 ; do. 1st, 105 ; Rochester and Pittsburg. 
27} ; Rensselaer and Saratoga, 139 ; do. 1st, 
135; Syracuse, Binghamton and New York 1st, 
123} ; St. Paul and Sioux City 1st, 110 ; St. 
Louis, Kansas City and Northern, Omaha div. 
1st, 113} ; St. Paul Minneapolis and Manitoba, 

109 ; do. 1st, 109j; do. Dakota ext., 106 ; St. 
Paul and Duluth, 27; do. pref., 68 ; South Car- 
olina 1st, 99} ; Southern Pacific of California 
1st, 104; South Pacific 1st, 103} ; St. Louis 



and San Francisco 2d, Class B, 92; do. C, 91 ; 
do. Equip., 97} ; St. Louis and Iron Mountain 
1st, pref. inc., 97 ; do. Arkansas Branch 1st, 
110 ; Toledo Delphos and Burlington, 13 ; do. 
inc., 15 ; Texas and Pacific, 48 ; do. inc. L. G., 
72 J ; Rio Grande div. 1st, 87^ ; Toledo, Peoria 
and Western 1st, lllj[ ; Texas Central S. F. 
7s, 107 ; Wabash, St. Louis and Pacific, Gen'l 
mort. 6s, 89 ; do. Iowa div. 68, 93 J ; do. Chica- 
go div., 85 ; Alabama, Class A, 81}; do. C, 82 ; 
Arkansas 7s, L. R. & Ft. Smith, 27 ; do. 6s, 
fund., 39} ; Missouri 6s, 1888, 108} ; do. 1887, 
108}; do. ]889'-90, 110} ; North Carolina S. T., 
3d class, 6; do. 4s, consol. 84} ; South Carolina 
6s, n on -fund., 7 ; Tennessee 6s, old, 75; do. 
new. 75; Am. Dist, Tel., 35 ; Sutro Tunnel, I ; 
Consol. Coal, 32 ; Colorado Coal and Iron. 41}; 
do. 1st, 88 ; Maryland Coal, 26 ; Deadwood, 
5} ; Homestake, 16} ; Mariposa, 2 ; do. pref., 
2} ; Ontario, 35 ; Robinson, 3| ; Standard, 16. 

Boston. — Atlantic and Pacific 68, 95| ; do. In- 
come 6s, 24} ; Atchison Income 8s, 102}; Bos- 
ton Land, 8^ ; Boston Water Power, 6 J ; Bur- 
lington and Missouri River in Nebraska 6s, 
non-exempt, 104 ; Boston, Revere Beach and 
Lynn, 122 ; Connotton Valley, 18 ; do. 7s, 90 ; 
do. 7s, Straitsville div., 75 ; Central of Iowa, 
32 J ; Chicago, Iowa and Nebraska, 148 ; Chi- 
cago, Burlington and Quincy, Denver ext., 87; 
Eastern Illinois R. R., 113} ; Flint and Pere 
Marquette, 22; do. pref., 93; Fort Scott Branch 
7-!, 111} ; Kansas City, St. Joseph and Council 
Bluffs 7s, 118 ; Kansas City, Fort Scott and 
Gulf, 78; do. pref., ri5;do. 7s, 111}; Kansas City 
Lawrence and Southern 5s, 105} ; Little Rock, 
Missouri River and Texas, 89 ; Little Rock and 
Fort Smith, 63}; do. 7s, 112 ; Marquette, 
Houghton and Ontonagon pref., 117} ; do. 68, 
103 ; Mexican Central 7s, 85 ; do. blocks, new, 
91 ; New York and New England 6s, 107; New 
Mexico and Southern Pacific 7s, 115 J ; Northern 
Pacific 6s, 98| ; Rutland, 4}; do. pref., 26|; do. 
6s, 101} : SonoraR. R., 2t);do. 7s, 87; do. block, 
No. 4, 110 ; do. No. 3, 175 ; Summit, 13} ; To- 
ledo, Delphos and Burlington, 6| ; do. S. E. div. 
6s, 65 ; Wisconsin Central, 19| ; do. 2d Series, 

48 ; Allouez Mining Co., 3} ; Brunswick Anti- 
mony, 15 ; Copper Falls, 3J ; Franklin, 14^ ; 
Huron, 3} ; Harshaw, 3} ; Minnesota, 50 ; Na- 
tional, 21 ; Napa consol. Quicksilver, 7 ; Osceo- 
la, 34 ; Pewabic, 14* ; Phanix, 2} ; Ridge, 4 ; 
Silver Islet, 20 ; Sullivan, 1| ; Star, 1. 

P/ii/ode/p/iia. -American Steamship Co. 6s, 
107 ; Central Transportation, 35 ; Chesapeake 
and Delaware Canal 6s, 89 ; Harrisburg and 
Lancaster 6s, 102|; Nesquehtning Valley, 57}; 
New Orleans Pacific 6s, 91}; Pittsburg 7s, W. 
L., 126; do. 7s, Av., 1885, 107 ; Philadelphia, 
Wilmington and Baltimore 4s, 96 ; Philadel- 
phia and Reading scrip, 82| ; Pennsylvania 
Canal 6s, 99}; Pennsylvania Company 4}s, 98}; 
Shamokin Valley and Potts ville 78, 116; Sham- 
okin, Hazleton and Wilkesbarre 5s, 97; Schuyl- 
kill Nav. 6s, 1895, 63; Texas and Pacific 6s, 107; 
do. consol. mort. 6s, 99|; West Jersey 6s, 117 ; 
do. 7s, 122 ; West Chester and Philadelphia 2d 
7s, 117}. The latest quotations are : City 63, 
— @118 ; do. free of tax, 126(^^130 ; do. 4s, 
new, 102@109; Pennsylvania State 6s, 3d series, 
100@101 ; do. 5s, new loan. 115(^^116} ; do. 
4s, new, 107@111 ; Philadelphia and Reading 
R. R., 31f@31}; do. consol. mort. 7s, reg., 125 
@— ; do. mort. 6s, 117(^121 ; do. gen'l mort. 
6s, coupon. 98}@98J ; do. 78, 1893, 118@125 ; 



. '^-J:A^jMfi^'..\*r -**-'. 



X^u 



AMERICAN RAILROAD JOURNAL. 



57 



do. new, conv., 73@77 ; United New Jersey K. 
R. and Canal, 184J@184J ; Buffalo, Pittsburg 
and Western, 19@19J ; Pittsburg, Titusville 
and Buffalo 7s, 102 1@ 103 ; Camden and Am boy 
mort. 6s, 1889, 113^@114 ; Pennsylvania R. R., 
61(5)61|; do. general mort. reg., 123^@— ; do. 
consol. mort. 6s, reg., 119J@124; Little Schuyl- 
kill R. R. 55J@56 ; Morris Canal, 65@75 ; do. 
pref., 165@169|; Schuylkill Navigation. 5^@6 ; 
do. pref., 12|@13i ; do. 6s. 1882, 88^@89J ; 
do. 1872, 107@108 ; Elmira and Williamsport 
pref., 58@60 ; do. 6s. 113@— ; do. 5s, 95@— ; 
Lehigh Coal and Navigation, 42i@,42|; do. 6s, 
1884, 105J@105J ; do. R. R. loan, 118@— ; .lo. 
Gold Loin, lllf@lll| ; do. consol. 7s. 116| 
(^117 ; Northern Pacific, 34|@35 ; do. pref., 
72J@72| ; North I'ennsylvania, 62|@62| ; do. 
6s, 105@105| ; do. ^s, 123^@— ; do. General 
mort. 78, reg., 119^@124 ; Philadelphia and 
Erie, 19@20; do. 7s, 113@114J ; do. 5s, 105@ 
105J ; Minehill, 60@60i ; Catawissa, 18@18^ ; 
do. pref., 53@53^ ; do. new pref,, 50^053^ ; 
do. 7s, 1900, 120@- ; Lehigh VaUey 61i@62J; 
do. 6s, coupon, 121@— ; do. reg., 121^@122i; 
do. 2d mort. 7s, 133^@134^ ; do. consol. mort. 
117J@118; Fifth and Sixth streets fhorse), 149 
@150 ; Second and Third, lU\niU5\; Thir- 
teenth and Fifteenth, 79.]@80^ ; Spruce and 
Pine, 47@50 ; Green and Coates, 99@100 ; 
Chestnut and Walnut, 94@95 ; Germantown, 

60@70; Union. 110@125 ; West Philadelphia. 
100@112 ; People's 13J@14J; Continental, 100 
@104. 

Baltimore. — Atlantic Coal, 1.10 ; Atlanta and 
Charlotte, 81f ; do. 1st, 109^ ; Baltimore City 
6s. 1884, 104J ; do. 6s, 1890. IU\ ; do. 6s, 1886, 
107 ; do. 5s, 1916, 120| ; do. 5s, 1894, 114; do. 
4s, 1920, IIU ; Baltimore and Ohio 2d pref., 
121; Canton Co. 6s. gold, 108.^; Chesapeake and 
Ohio Canal, 63, 35 ; Chicago and Eastern Illinois 
1st, 101 i ; Columbia and Greenville 1st, 103 J ; 
George's Creek Coal. 98; Maryland Defense bs, 
103|^ ; Northern Central 5s. 96J ; Ohio and Mis- 
sissippi, Springfield div. 1st, 120 J; Richmond 
and Danville gold bonds, 103 ; Richmond and 
Alleghany, 30 ; South Side (Va.) 2d 6s, 102 ; 
Virginia Black scrip. 33 ; do. Peelers, 39 ; do. 
coupons. 37 ; Virginia Midland. 91 ; do. 1st 
pref., 125 ; do. 2d pref., 125 ; do. 2d mort., HI; 
do. 3d mort., 95; do. 5th mort., 98J ; Virginia 
and Tennessee 6s, 101 J. The latest quotations 
are : Atlanta and Charlotte, — @82 ; do. 1st. 
— @110 ; Baltimore and Ohio, 195@200 ; do. 
6s, 1885. 107@108 ; Baltimore City Passenger 
R. R., 41@42 J; Baltimore City 6s, 1886, 107@. 
107J ; do. 6s, 1884, 104^@105J ; do. 6s, 1890, 
114@114J ; do. 6s, 1900, 127^©- ; do. 6s, 1902, 
128@— ; do. 4s, 1920. 111J@112 ; Columbia 
and Greenville 1st. 103@03J; Central Ohio 1st, 
~@m\ ; Marietta and Cincinnati 1st, 124@ 
125 ; do. 2d. 105J@105J ; do. 3d, 58J@58| ; 
Norfolk Water 8s, 130@— ; Northern Central, 
49@50i ; do. 6s, 1900, gold. 113^®-; do. 1904, 
gold. 112i@- ; do. 5s. 1926. 95i@97 ; Norfolk 
and Western pref., 56@57 ; Ohio and Missis- 
sippi Springfield div. 1st, 120^@121; Pittsburg 
andConnellsville7s. 120@122 J : Richmond and 
Danville, 200@250; Virginia consols., 63J@64 ; 
do. 10-40S, 39|@4'); Virginia Midland 5th mort.. 
98@98a; Western Maryland 2d pref.. 106^@— ; 
_•. w?^^""*' S'^*^- ^y Washington Co., 110@ 
@lb9i ^^^^"^' ^°^^^°^^^^ ^^^ Augusta, 108^ 



• ; " The Coal Trade. 

The leading coal carrying companies make 
the following reports of their tonnage for the 
week ending Janv.ary 14, and for the year to 
same date, compared with their respective 
amounts carried to the same time last vear: 

Week. 1882. 1881. 

Reading Railroad 156.709 1,017,718 722,618 

SchuylkiU Canal 27,655 

Lehigh VaUey 142,3-23 801,105 526.790 

Delaware, Lackawanna and 

Western 87,952 158,452 104,330 

Shamokin 20,;U4 30,522 32,563 

Central R. R. of New Jersey.. 92,577 132,698 92.399 

United R. R. ot New Jersey.. 35,482 63,014 47.131 

Pennsylvania Coal 23,058 42,895 31,871 

Delaware and Hudson Canal.. 81.778 131.109 83.413 
Huntingdon and Broad Top 

Mountain 11,859 22,716 19,099 

Penn. and New York 34,853 192.796 138.304 

Clearfield. Pa 51,267 90,352 65,353 

The total tonnage of anthracite coal from all 
the regions for the we 3k ending January 14, 
as reported by the several carrying companies, 
amounted to 592.801 tons, against 347,228 tons 
in the corresponding week last year, an increase 
of 245. 573 tons. The total amount of anthra- 
cite mined for the year is 967.878 tons, against 
665,775 tons for the same period last jear, an 
increase of 302,103 tons. The quantity of bi- 
tuminous coal sent to market for the week 
amounted to 46,304 tons, against 32.701 tons 
in corresponding week last year, an increase 
of 13,603 tons. The total amount of bitumin- 
ous mined for the year is 115,122 tons, against 
104.224 tons for the corresponding period last 
year, an increase of 10,898 tons. The total 
tonnage of all kinds of coal for the week is 
639.105 tons, against 379.929 tons in corre- 
sponding week last year, an increase of 529,176 
tons, and the total tonnage for the coal year is 
1,083.000 tons, against 769,999 tons to same 
date last year, an increase ol 313.001 tons. The 
quantity of coal and coke carried over the 
Pennsylvania Railroad for the week ending Jan- 
uary 14 was 213.360 tons, of which 154.673 
tons were coal and 58.687 tons coke. The tot^l 
tonnage for the year thus far has been 398.178 
tons, of which 283.776 tons were coal and 114.- 
402 tons coke. These figures embrace all the 
coal and. coke carried over the road east and 
west. The Pennsylvania Railroad tonnage for 
1881 amounted to 9,209,309 tons, of which 6,- 
793.743 was coal and 2.415.563 coke. We have 
received no report of the Cumberland coal 
shipments for the week ending January 14. 
The Reading Railroad shipment for last week, 
ending January 21, was 98,500 tons, of which 
17,980 tons were sent to and 13,560 tons ship- 
ped from Port Richmond, and 11.682 tons sent 
to and 15,796 tons shipped from Elizabethporl. 
— Phil. Ledger, Jan. 23. 

American Silk Association. 

The annual report of the Silk Association of 
America shows that the imports during De- 
cember of dress silks were $727,060 in 1877, 
and $940,198 in the last month. The total im- 
ports of silk and silk mixed goods were $1,136.- 
129 m December, 1877, and $1,896,204 in De- 
cember, 1881. The values of importations in 
December of laces in the past five years were : 
1877, $65,579; 1878. $44,758; 1879, |42,642; 1880, 
$98,400, 1881, $247,462. 

During the year 1880 dress silk goods to the 
amount of $17,665,038 and silk ribbons to the 
amount of $3,563,848 were imported. During 

» 



the last year dress goods to the amount of $16,- 
959.043 and silk ribbons to the amount of $2,- 
614.918 wire imported. In 1880 silk and silk 
mixed goods to the amount of $4,751,946 were 
imported, and in 1881 the importations amount- 
ed to $4,267,394. The total values of all kinds 
of silk goods imported during 1880 was $33,- 
305.460 ; in 1881 the total value was $31,636,- 
377. The report further states that in 1880 20,- 
899 bales of raw silk, valued at $11,478,727 were 
received at the ports of New York and San 
Francisco ; and in 1881 21.692 bales, valued at 
$11,936,865. were received. The importation 
of waste silk was very large during the last 
year. The manufacture of silk goods from waste 
silk was almost annihilated in 1880, but re- 
gained its prosperity in 1881. There were 492 
bales of waste silk, valued at $204,604, received 

at the ports of New York and San Francisco in 
1880; and in 1881. 2.010 bales, vjUued at $709.- 
186 were imported. 



Anthracite Coal Tonnage. 



The following is a comparativ 
the anthracite coal tonnage for 
December, 1881 and 1880 : 



e sttitement of 
the .months of 



Reading Railroad 

Lehigh Valley Railroad 

Central Railroad of New Jersey 

Delaware, T^cka wanna A: Western. . . 

Delaware and Hudson Canal 

Pennsylvania Raih-oad 

Pennsylvania Coal Co 

New York, Lake Erie and Western- 
Railroad 



1881. 
633,116 
595,024 
406,837 
425,914 
300,780 
180,5J2 
142,l(i3 

40.408 



1880. 
407,089 
3(.y,563 
276,888 
310,150 
213,009 
149.675 
106,018 

46.473 



Total 2,724,726 1,878,867 

For the years 18S1 and 1880, the |j>tatement 
compares as follows : j 

1881. 1880. 

Reading Railroad 6,940,283 5,933,922 

Lehiah Valley Railroad 6,721,869 4.394,632 

Central Railroad of New Jersey.. 4,085,423 3,470,141 
Delawart". Lackawanna & West- 
ern Railroad 4,388,968 3..550,348 

Delaware and Hudson Canal 3,211.496 2,674,704 

Pennsylvania liailroad 2.211,:i83 1,864'031 

Pennsylvania Coal Co 1,475.800 1,138,466 

New York, Lake Erie and West- 
ern Railroad 465.230 411.094 



Total 28,500,016 23,437,242 

The totil increase for the month of Decem- 
ber was 845,969 tons ; and for the year 5,062,- 
574 tons. The stock of coal on hand at tide 
water shipping points on the 31st of December 
was 497,024 tons against 392,315 tons the 30th 
of November, an increase for the month of 
104,709 tons. The amount on hand December 
31, 1880, was 500,373 tons. Of the total pro- 
duction in 1881, 13.951.383 tons, or 48.96 per 
cent, was from Wyoming region ; 5,294,676 
tons or 18.58 per cent, from Lehigh region, 
and 9,2.53.958 tons, or 32.46 per cent, from 
Schuylkill region. Competitive tonnage, in- 
cluding all coal which for final consumption or 
in transit reaches any point on Hudson river 
or the Bay of New York, or which passes out 
of the Capes of the Delaware except pea and 
dust: 1880, 10,088.159 tons; 1881, 12,169,030 

tons. L j 

^^— ' 

The stockholders of the Richmond and Dan- 
ville Railroad Company have authorized the 
President to subscribe od behalf of the compa- 
ny for 10.000 shares of the new stock of the 
Richmond and West Point Terminal Railway 
and Warehouse Company; also to issue deben- 
ture bonds to the amount of $4,000,000, p^yh- 
ble forty-five years after date and bearing 6 per 
cent interest payable semi-annually. 



\ 



58 



AMERICAN RAILROAD JOURNAL. 



Important Facts and Pigfures. 

The subjoined statement?, showing in a 
variety of forms the rapid increase arising 
from interest (rent or usury being very nearly 
synonymous terms) charged for the use of 
accumulated wealth — which we take from a 
lecture delivered some time since in Associa- 
tion Hall, New York, by Wallace P. Groom, on 
the ** Currency Needs of Commerce " — contain 
much "food for thought" for all classes, old 
or young, man or woman, employer or em- 
ployed ; for interest affects the price of every 
commodity in the most vital manner. 

Many carelessly infer that the increase of 
money at six per cent is just twice as rapid as 
at three per cent ; but in reality the increase is 
vastly more rapid than this. In one hundred 
years, at six per cent, the increase on any given 
sum is about eighteen times as much as at 
three per cent. 

If one dollar be invested and the interest 
added to the principal annually, at the rates 
named, we shall have the following result as 
the accumulation of one hundred years : 

One Dollar, 100 yeara, at 1 per cent $2 ^ 

do do 2 do 7>4 

4» do 2^ do 11'^ 

4i do :i do 19>^ 

«» do 3>i do 31>4 

a» ' do * do 50^9 

do do i^ do 81>a 

do do 6 do 131 

do do 6 do 340 

do do 7 do 868 

do do 8 do 2.2U3 

do do 9 do 5,543 

do do 10 do 13.809 

da do 12 do 84,675 

do do 15 do 1.174,405 

do do 18 do 15.145,007 

do do 24 do 2.551.799,404 

There are probably few, however familiar 
with the subject of the rapid increase of capi- 
tal put at interest, who would not be startled 
at the statement that the cost of the outfit of 
Christopher Columbus in his first voyage of 
discovery, put at interest at six per cent, 
would by this time have amounted to more than 
the eiUire money value of this continent, together 
wUh the accumulations from the indtistry of 
all who have lived upon it. If any doubt 
this, let them reckon the amount, esti- 
mating the entire outfit to have cost only the 
small sum of $5,000, and remembering that 
money doubles, at six per cent, in a little less 
than twelve years— or accurately, in eleven 
years, ten months and twenty-one days. Al- 
lowing it to double every twelve years, this 
$5,000 at interest at six per cent since 1492, it 
will be found, would have amounted to $17,895 - 
700,000,000 ; which, estimating the population 
of the entire continent of America (North and 
South) to be eighty-five millions, or seventeen 
million families (averaging five members each) 
would give more than a $1,000,000 as the pos- 
session of every one of these. The interest 
upon $1,000,000 at six per cent is $60,000, 
which would now be the princely annual in- 
come of each of these seventeen million fami- 
lies from the accumulations up to this time 
upon so small a sum as that named for tho 
outfit of the discovery. 

In Hildreth's " History of the United States," 
it is stated thnt Manhattan Island— afterward 
called New Amsterdam, now the City of New 
York— was bought by the Dutch from the 
Indians, for 60 guilders, or $24, and this only 
about two hundred and fifty years ago. And 



yet, if the purchasers could have securely 
placed that $24 where it would have added to 
the principal annually interest at the rate of 
seven per cent, the accumulation would exceed 
the present market value of all tho real estate 
of the City and County of New York. 

Again, if a man at the age of twenty-five 
should commence business with a capital of 
$100,000, and could by any possibility add 
thereto interest at our legal rate of seven per 
cent annually, the result would be (in round 
numbers as follows : 

Age. Caoital. 

25 $100,000 

35 200,000 

45 400.000 

65 800,000 

65 1.600,000 

75 3.200.000 

86 6,400,000 

Now the growth of national wealth is only 
about three and one-eight per cent per annum, 
notwithstanding the assertion of those who 
have placed it much higher, through compar- 
ing tho old valuations with the new (which 
have been greatly increased), instead of taking 
as the basis of their calculation, as they should 
have done, the actual number of horses, cattle, 
hogs, sheep, etc., etc., at the different periods. 
It is plain therefore, that the great mistake 
most men make is in attempting to use bor- 
rowed capital at an immensely high rent, ordi- 
narily termed interest, which, by the use of 
gold as currency, is often forced still higher. 
While the growth of the national wealth 
remains at the present ratf, the averagfi man 
who attempts to pay even seven per cent for 
all the capital he can get should not expect to 
avoid bankruptcy as the result. 

Cincinnati Iron Market. 

OmcE OF E. L. Harper & Co. 

Cincinnati, Jan. 24. 1882. 

There is no material change to note in the 
market. The demand for all grades is large 
and fully up to the ability of sellers to meet. 
All grades are in light supply and the market 
closes strong at the quotations given below. 

We quote as follows : 

rOUMSBT. 

No. Mo8. 

Hanging Rock Charcoal 1 29 50@30 75 4 

Strong Neutral Coke 1 27 OOf^'28 00 4 

American bcotgh. 1 26 50(a>27 60 4 

f , OBEY FOBOE. 

Neutral Coke...'. 25 50@26 50 4 

Cold Short 24 00(g>25 00 4 

CAB WHEEL AMD MALLEABLE. 

Hanging Rock Cold Blast 36 00@38 00 4 

Warm Blast 30 00(0*32 00 4 

Lake Superior 1 and 2 32 00^33 00 4 

Lake Superior 3 1o r, 34 00(g(3G 00 4 

Southern Car Wheel 36 00(ia»40 00 4 



Pennsylvania Railroad. 



The statement of the business of all lines 
of the Pennsylvania Railroad Company east 
of Pittsburg and Erie for December, 1881, as 
compared with the same month in 1880, shows 

An increase in gross earnings of $183,923 

An increase in expenses of 106,894 



An increase in net earnings of $76,989 

The twelve months of 1881, as compared with 

the same period in 1880, show 

An increase in gross earnings of $2,864,110 

An increase in expenses of 2,082,762 



bilities of $2,713,152, being a loss, as ccnpared 
with the same period in 1880, of $358,900. u 

Hoe Out Yoxir Row. ] 



One day a farmer's lazy boy 

Was hoeing out the corn. 
And moodily had listened long 

To hear the dinner horn. 
The welcome blast was heard at last. 

And down he dropped his hoe, 
But the good man shouted in his ear, 

" My boy, hoe out your row." 

Although a " hard one " was the row. 

To use a plowman's phrase. 
The lad. as sailors have it. 

Beginning well to " haze." 
" I can," said he, and manfully 

He seized again his hoe, 
And the good man smiled to see 

The boy hoe out his row. 

The lad the text remembered. 

And proved the moral well, 
That perseverance to the end 

At last will nobly tell. 
Take courage, man ! resolve you can. 

And strike a vigorous blow ; 
In life's great field of varied toil. 

Always " hoe out your row." 



Pun on a Perryboat. 



When a Fulton ferryboat was lying in its 
Brooklyn slip yesterday, a gentleman entered 
the ladies' cabin, and seeing that the after de- 
partment was occupied only by men, the ladies 
having, in accordance with their custom, gone as 
far forward as possible, evidently supposed 
himself on the other side of the boat, and, 
quietly lighting his pipe, proceeded to solace 
himself with a smoke. A minute afterward a 
lady entered, and tho smoker politely directed 
her to the other cabin. She looked somwhat 
surprised, hesitated for an instant, and went 
out, while all in the cabin who had watched 

the proceeding laughed so heartily that the 
gentleman with the pipe asked his neighbor 
what the matter was. 

"It is you who ought to hive gone into the 
other cabin," was the reply. "This is the 
ladies' department." 

The smoker looked wildly around him, re- 
cognized the situation, and hurried out with a 
very red face. He must have met the lady on 
her way back, for five seconds afterwards she 
entered and took the seat he had just vacated 
and her countenance bore as bright a bloom as 
that of the smoker. The occupants of the 
cabin laughed silently, while they pretended 
not to see her. 



An increase in net earnings of $779,348 

All lines west of Pittsburg and Erie fur tht 
twelve months of 1881 show a surplus over lia- 



The official report of the anthracite coal ton- 
nage for the month of December and the past 
year shows that the tonnage of the various 
carrying companies for the month was 2,724,- 
726 tons, and for the year 28,500,016 tons, an 
increase of 5,062,774 tons as compared with the 

previous year. Of this amount the Philadel- 
phia and Reading Railroad carried 6,940,283 
tons, the Lehigh Valley Railroad 5,721.869 tons, 
the Central Railroad of New Jersey 4,085,423 
tons, the Delaware, Lackawanna and Western 
Railroad 4,338,968 tons, the Delaware and Hud- 
son Canal Company 3,211.496 tons, the Penn- 
sylvania Railroad 2,211,363 tons, the Pennsyl- 
vania Coal Company 1,475,385 tons, the New 
York, Lake Erie and Western Railroad 465,230 
tons. Of the total production 48 96 100 per 
cent was from the Wj'oming region. 18 58-100 
from the Lehigh region, and 32 46-100 from the 
Schuykill region. The stock of coal on hand at 
tidewater shipping points at the close of the 
year was 497,024 tons. 



>;w5i5;;**"^ .■ri'-W' • 



^rrnepr^i-vy: f*7v 5?^**r". 



.,-1 



AMERICAN RAILROAD JOURNAL. 



59 



LIVERPOOL AND LONDON AND GLOBE 

INSURANCE COMPANY. 



Gross Fire Asflets -. $12,167,538 44 

Fire Liabilitiea, including paid-np Capital 5,875,967 54 



Net Surplus 



$6,291,580 90 



ASSETS. 

Besl Estate ..' $953,000 00 

Loans on Bond and Mortgage 1,288,586 00 

United States Government Bonds 1,552,687 50 

Cash in Banks 527,354 16 

Other Admitted Assets 455,961 96 



Interest allowed on Deposits subject 
to Draft. Securities, &c^ bought and 
sold on Commission. 

investment Securities always on hand. ' 



ALONZO FOLLETT, 



LIABILITIES. 



$4,777,589 62 



Outstanding Losses $461,094 20 

Unearned Premiums 1,988.017 96 

All other Liabilities 499,870 07— 



2.948,482 23 



Surplus 



$ 1 ,829, 1 07 39 



Income 1881 $3,086,873 09 

Expenditures, 1881 2,620.263 72 



Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A L 



CZTAiiJJf^iV; ROBERT B. MINTURN. 

ALEXANDER HAMILTON. CHAS. H. MARSHALL. ANSON PHELPS STOKES. 

JOHN A. STEWART. " 

Resident Manager, J. E. PULSPORD. 

Deputy Manager, HENRY W. EATOU". Ass't Dep'y Manager, GEO. W. HOYT. 



Paiiie, Webber & Co., 

Bamiers and Brokers, , . 

I¥o, .13 Dr>v«»ii«|iir«* St.. B«<«tOR. 

(Membert of the Boston Stock Exchanffe.) j 

Devot« special attention to the purchase and sale of 
Stocks and Bonds in the Boston market, the careful Re- 
lection of securities for inrestment, and the negotiation 
of commer cial paper. 

Wm. a. Paine. Wali^ce G. WsBBEai. C. H. Taxke. 



SITUATION WANTED AS CIVIL ENGINEER ON A 
Railroad; can do machinists work, erect bridges. 
Well conversed in Spanish language. Educated at 
Rens. Poly. Inst., Troy, N. Y. Address 

CIVIL ENGINEER, P. O. Box 1594, N. Y. 



THE PERFECTED 



TDE LAKE SHORE AND MICHIGAN SOUTH- 
ERN RAILWAY COMPANY, 
Treasurer's Office, Qrank Central Depot, 
New York, December 23J, IStil. 
The Board of Dirpctors of thi.s c^mpanv hnv^ fhif 
day declared n QUARTEKLY DIVIDEND of TWO 
per cent u^-n ifscnpitnl stock, payable on WEDNES- 
DAY, the first diiy of Febru^-ry next a» this office. 

The transfer bo..k<« will be close] «t 3 o'clock P. 
M. on Saturdiiy, the Sipt instant, and will be re 
opened on the morning of Saturday, the fourth day o« 
February next. 

E. D. WORCESTER, Treasurer 



REMINGTON 




FOR^ALE. 

ten new Locomotives, Standard Grange, June 
and July aelivery. 

New 3ft. Gauge Locomotives, summer delivery. 

One Second-hand Tank Locomotive 3ft. Gauge, 
rebuilt good as new, January delivery. 

Second-hand Standard Gauge Locomotive and 
Passenger Cars. 

Thirty new Box Cars Standard Gauge, immedi- 
ate delivery. 

New Flat and Coal Cars, January deUvery. 

New Passenger and Combination Coaches 3ft. 
Gauge, early delivery. 

New Car Wheels and Castings. 

won and Steel Rails. 

Narrow-Gauge Rolling stock a specialty. , 

BARROWS & CO. 

Q4 BrocLci-wreiy, 

NEW YOBK. 



TYPE-WRITER. 

1 WRITING - MACHINE which combii 
.^"e with rapidity and accuracy, 
and economy with elegance 
and convenience. 

Adapted to general use. Every machi >«* 
guaranteed. 

Send for Circulars with names and testimonials 
recent patrons. 

E. REMINBTON & SONS, 

281 and 283 Broadway, New York. 
38 Madlsoii Street, Chicago. 
134 South 7th Street, Philadelphia. 
91 Soutli Howard St., Baltimore, 

■ ' IMention this paper.] 



John H. Davis & Co., 

Billies AND BROKERS, I | 

«ro. IT HTjiH Sf., Wew Vork. ! 

♦ 

Interest allowed on temporary and standing d«po«ito. 
Ptocks and Bonds bought and sold on Commlssioa only, 
either on Margin or for Investment. 

/■ ■ - • '■ :: ■ - --:- 



Brown, Brothers & Co., 

No, 59 W/ui Stket, New Yon, { { 

—BUT AND SEtX — 

"RTT iT iR or* E2SZC2i-A-iTO-E 

— ON — 

QREAT BRITAIN, IRELAND, FRANCE, aERMANT. 

BELGIUM, AND HOLLAND. 



Issue Commerciai and Travelers' Credits in Sterling, 

ATAILABLE IN ANY PART OF THE WORLD. AND IK 
FRANCS IN MARTINIQUE AND GUADALOUPE. 

Make Teleobaphic Tbaksfers of Monet between thU 
and other countries, throngb London and Paris. 



D. N. BEARDSLEY & CO., 

MANUFACTURERS OF 

Superior Oak and Chestnut Lumber, 

AND RAILROAD TIES. 

Osi3e Cstr Tiiaa'ber a, Specialt3r. 

OFFICE ; 9 MURRAY ST., 

NEW YORK. 



Make Collections of Drafts drawn abroad on all points 
in the United States and Canada, and of draft* drawn in 
the United States on Foreign Countries. 



' ti'li^'ti i'i'ii^iiMri"i.A¥B"'taiiitif- ■lililifi if- 



Seioto R. R 1st 7*8, 1905. 
Scioto R. R. 2nd 7's, 1879. 
Seioto R R. Con. 7's, 1910. 
Scioto R R Stock. 
Columbus & Toledo 1st 7*8, 1910. 
ToL, Ciian. & St. L. Stock and Bonds. 

. D. A. k^AftTOKf i - 
^o. 98 Broadway, N. V, 



1 • 



.^nsBV^iiBqiT 



60 \ ■-•:^- •v:i.'l.■■ 



AMERICAN RAILBOAD JOURNAL 



AMERICA]^ 

REFRiaERATOR 

LINE, 

New York, Oct., 18^1. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 
sential Oils, Mineral Waters, 
Lager Beer, Ales and Porters, 
Oysters, or, in fact, any class ot 
goods that needs protection 
from heat or cold while in tran- 
sit to the West and Southwest, 
either in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 




HEFBIGEMTOE TRANSIT COMI 



Gnaranteed Bills of Lading 
glTen. 

Time as qnick and rates »s 
low as by any first class fast 
freigpht line. 

£3^Ship from New York rla 
N. T. C. and H. l^. .KB., St. 
J clings Park ; from Boston Tia 
Boston and Albany K. R. 



Of the Finest Finish, as well as every description of CAB WOBE, furnished at short notice and at reasoaablr 
I Prices by the ( 

HAKI.AW A noLL.iiVGS%%ORTH i:;o., Hilmiiiirton. Del. 

PARDEE CAR WORKS. 

WATSONTOWN, PA., 





PKOPRI ETOKS. 

Msixi\xfh.ot\xz*or3 of* 
Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, Ooal, Mine, and Hand Cart ; 
KeJley'8 Patent Turn-Tables, and Centers for Wooden Turn-Tables; 
j ^ Car Castings, Railroad Forgings, Rolling-Mill Castings, 
I ' ' Bridjre Bolts and Castings. I 

•We baT«, in connection with oar Car Works, an extensire Foundry and Machine-shop, and are prepared 



le do a general Machine Business. 

Chairman, 
ABIO FABDEE. 



TVeasurer and General Manager, 
H. P. SNYDER. 



• 1 
Secretary, 
N. LEISER. 



NEW YOEE CITY OFFICE : ROOM A. No. 137 BROADWAY. 

C. W. liEAVITT. Agent. 



m roBK, uu imMjmm umn. 

! TO THE! TR,A.VB3L.IIsrCI- FTJBLiIO. ^ 

r_wJ'2r'^°^ *^® Centennial season— six months closing September 10, 1876-the Erie EailwaycaiTisd almoe* 
rKEU MILLION passengers, without a singe accident to Ufe or limb, or the loss of a piece of baggage. 

BW- Tif^l/^^" *^**-^® Jt®" *^« official records of the United States Post Office Department "khow the trrirala of 
Erie Railway trams in New York, on time, to be from 15 to 27 per cent ahead cf competing lines. ""''»*■ «« 

Facts well worthy the consideration of travelers. 



S. S. BOWEN, General SuperitUendent. 



JNO. N. ABBOTT, Om. Ausm^sr Agent 



Railroad 



For rates and information apply to 

FRED'K I. EVANS, 

A, 

' Beneial Eastern Agent. 



92 Wall Street, - New York. 

271 Broadway, New York, 

232 Waahington Street, Boston* 




Track Scales. 




AND ' ^^^ 

TESTING 

MACHINES 



PHILADELPHIA, 
50 Soaitt 4lh St. 

NKW YORK, I 
.115 Liberty Street. 

PITTSBURGH, 
Liberty St. cor. 7th Ay. 

- ST LOUIS, I 

600 Nortb Sd Street 
KKHV ORLRAIvS, 
14-^ OrnTler Street 



I THE ROGERS 

LOCOMOTIVE AND MACHINE WOMS, 

Faterson, N". J. 

^ 

HarlDg extensive facilities, we are now prepared tt 
furnish promptly, of the best and most approved de 
scriptlon, either 

COAL OR IVOOD BURNINti 

XjOOOI^OTIVE HSlSrCHlTESS, 

AUTD OTHEB TABIETIES OF 

BAILROAD IVIACHINEBT. 



J. S. ROGBRS, Pre$'L 
B. 8. HUGHBS, Sec 
WM. 8. HUDSON, Sup 



re$'L \ 
, Sup'L ) 



PateraoB, H. J. 



Tl. S. ZST70-ZSSS, rrzesbervurez. 

44 ExeHasf^tt Pl«e«t Heinr Torls. 



PT H Sj 

GORDON & DUGGAN 

RAILWAY SWITCH. 



The Standard on several and in use on 
twenty-five Bailroads. 1 

Combines Safety, Durability, Simplicity, 
and Iiow Cost, with Fixed Raiis.l I '"'■ 

The only movable piece weighs 375 Ibs^ 
and is without a bolt or rivet. - 

E. GORDON, Treasurer, 

No. 28 State Street, Boston, Mass. 



r>^-i^. ':. \.' ^ AiAA** * 



'-"■i^ '■■ 1 '^ i riri-nriilM iMM J Ti Ai--ir' 



ladtk- 



."TA-T'J*-:'' 



■ V. -l!H.«J.W!l|p* 



«^ 



AMERICAN RAILROAD JOURNAL. 



61 




VALENTINE'S VARNISHES 



ARE ON SALE IN THE FOLLOWING COUNTRIES; 



ENGLAND. 



FRANCE, 



GERMANY, 



SWITZERLAND. 
ITALY. 



HOLLAND. 



AUSTRIA. 



SPAIN. 



SCOTLAND. 



RUSSIA, 



INDIA. 



■I 



SOUTH AMERICA. 



MEXICO. 



AUSTRALIA. 

NEW ZEALAND. 
CUBA. ' 



VALENTINE & COMFANT, 

COACH AND CAR TARNISHES, 






E AMES V AC VUM SRAKE CO., 

RAILWAY TRAIN ^RAKES, ' 

P. O. Box 3,978. ftALES OFFU 'E iH GOLD »>T , W. V. KfpVrse ntid by TUOs. l>KOI»»Kii & SO.^. 

The EAMES VACUUM BBAKE is confidently offered as the most efficient, simpl^, durable and cheapest Power Brake in the 
market. It can be seen in operation uponlover seventy roads. 



^^itiaiau^iSiL -^ i .^^ImTi. • ; i ' V i hT "ifa'A'i'i"-." ■ i Pi i^^iu-J^: L - :!- '^i.-^~'..--^fi^-r^v-~-^^Ji.':'- 



■■'■ '.:':.,■ i\^::-^''i- 



V^t,*. ';».■» f*--. "-S .^^.'^ r'.l' .- - .. ilLtfk.M;. 



I",^ J Kf'^'^'Z 



62 



'■■ '^'-'l^v;'." -).,.. H-^-d' ':■'■: ;".^' ^■•■^^••■■/:::v': '^^^-■^:.•:^..■■:■^• 

AMERICAN RAILROAD JOURNAL. 






..,,..|. 



JOHN STEPHENSON CO. 



[LiMITKD.] 




NEW YORK. 

Superior Elegance, Lightness and Du- 
rability. The result of 50 years' experi 

ence. 

Adopted to all countries and climates. 
Combining all valuable improvements 
Shipped to Foreign P;irts with greatest 
care, and at most favorable rates. 1 

Baker & Ciodwiii's 

PRINTING HOUSE. 

MODERN RAILWAY PRINTme, 

prelnl attrtt *<>■• clTeit^tn thi«ClNSS nfwnrlt. 

This establishment is very extensive, adapted to everr 
TWiety and style of Printing, and the proprietors hopt^ 
to be favored with a share of Railway patronage. Esti- 
mates furnished on application. 

BAKER & aODWIW, Printers, 

No. 25 Park Row, 

Directly opp. Post Office. NE'W YORK. 

Printing of all kinds at greatly reduced rates. 

HOUSATONIC RAILROAD 

^ 

THE ONLY LINE RUNNINO 

T X3: ^ O TJ a- 22 C-A-I^S 



Petween New York, Great Barrington, Stockbridge, Len 
ox, and PittstielJ— the far-lamed resort of the 

Berkshire Hills 

of Western M issachusetts— the •'Switzerland of Amarlca." 
Two through trains daily between New York City and 

all points on the Umiaatonic Riilroad, from the Granr 

Central Depot via the New York, New Haven, and Hart 

rord Railroad at 8:05 A. M. and 3:43 P. M. 
Descriptive Gnide Book sent free upon application to 

the General Ticket Agent. 

H. D. AVERILL, Gen'l Tickft Agent. 
L. B. STILLSON, Superintendent. 
General Office*. Bridgeport, Ct. January 2, 1882. 



J„|,nB.Davids4(V 






«?< 

M7^NGI.^EERS.Mechanics,M UOwners.fiuilders.ila'nu- 
ililacturers.Miners.Mcrcliants.&cMilltindinMoORE'S 
Universal A ssistant and Compuete Mr.ciiANic, a work 
eontain;nKlui6i>a;.-es,600Enpravings,4ClTables,andover 
1.00),0U)IndustrialF.icts,Ca'culitions, Pror-ses. Secrets, 
Rules,<tc..ofrarentilityin2 Trades. A $5 bonk free by 
mail for i 2. ."iO, worth its weight in g 'd to any Mechanic, 
FarmcrorB.iSinessMin. Ai/enin Wantcl. Sure sale every- 
where for all time. For 111. Contpr.tJ Pamphlet, terms, 
and Catalogue of 500 Practical Books, addressNATlONAI. 
Book Ca. 73 B«ekman bt.. Kew York. 



1 NO OTHER UNE IS SUPERIOR TO THE 

I 1 FITCHBURG RAILROAD 

HOOSAC TUNNEL ROUTE 



f. 



"W EST. 

8.30 



'•«» 



.;.-r,l 



A. DAY 



EXPRESS. 



Ihrough drawing-room car to Rochester, N. Y., connecting with through sleeping car 
lor Cincinnati, Cleveland, Toledo. DETROIT AND CHICAGO, 



3. 




p. CINCINNATI 

M. EXPRESS. 



Pullman Sleeping Car attached, running through to Cincinnati without change. (Onlj 
Line running Pullman Cars irom Boston.) This car runs via Erie Railway, making direc 
connection for Louisville, St. Louis, Kansas City, New Orleans, and all points in Texas an( 
New Mexico 



3. 




P. ST. LOUIS 

M. EXPRESS. 



; THE ONLY LINE which runs a THROUGH SLEEPING-CAR from 

BOSTON TO ST. LOUIS WITHOUT CHANGE! 

II ARRIVING AT 8.00 A,M, SECOND MORNING, I 

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville 
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo: 
Kansas, Colorado, Texas, and all points in the 



■r 



SOUTHWEST. 




p. PACIFIC 

M. EXPRESS. 

The only line running a through sleeping car viu Buffalo and Detroit without change, 
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex- 
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast, Wisconsin, Minnesota 
and all points in the 

WEST AND NORTHWEST. 



THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED, 

Phis Great Short Line passes through the most celebrated scenery in the country, including the famoua 

HOOSAC TUNNEL, four and three-quarters miles long, being the longest Tunnel 

, .' in America, and the third longest iu the world. . ■. .. i, 

rickets, Drawinir-Rooin and SIeepin?-Car Accominodation!« may be secured In Advance 

by Applying to or Addressingr 

.WASHINGTON STREET, BOSTON. 250 

JOHN ADAMS, General Superintendent. 

F. O. HEALD, Acting Gen'l Passenger and Ticket Agent. 



_ ^,- '^1, - T. • 



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.'JiMlILkJ 





Vn^^m ^^tl^ ISmiUiHIQ !83lo 



steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



Skcoxd Quarto Sebies.— Vol. XXXVm., No. 5.] 



NEW YORK, FEBRUARY 4, 1882. 



[Whoi.« No. 2,389.— Vol LV. 



% 



I 



I 

• i 



Railroad Sanitation. 



(Continued from last week.) 

(Read at the Savannah meeting of the American Public 

Health Association, 1831.] By S. S. Hebrick, M. D., 

Secretary of the Louisiana State Board of Health. 



3. If it be admitted that the personal hygiene 
of railroad employes fs a matter of any impor- 
tance to the company, it follows that the advice 
of a sanitarian would be valuable in relation 
to passenger cars, to buildings and grounds, 
and in the selection of sites and the creation 
of works and buildings. It is not supposed 
that practical railroad mana;:;ers regard disease 
as a special dispensation of providence, when 
they build without due regard to drainage, re- 
moval of excreta or proximity to marshes. 
These and other similar blunders simply indi- 
cate neglect to secure suitable sanitary advice, 
and not a spirit of fatalism ; but the same man- 
agers are careful to have the services of com • 
petent mechanical engineers and builders. The 
time is happily past when sanitation can be 
stigmatized as a profane scheme to cheat di- 
vine providence; let us hope that managers of 
corporations may soon cease to count it a fruit- 
less tax on their revenues. " Public health is 
public wealth" has some time been repeated 
for an axiom, and corporations aim at securing 
a share of the public wealth ; can they there- 
fore either justly or safely disregard the public 
health ? 

4. For some years the national government 
has sustained a meteorological service, for the 
benefit of the agricultural and commercial in- 
terests. These are the very interests which 
support railroads, and it is plainly an advan- 
tage to the companies to co-operate with and 
extend this service, both to enable them to 
guard their own property from damage by 
storms and for the benefit of the agriculturists 
who give them business. The cost would be 
trivial, for the observations could be made and 
forwarded by telegraph operators, and it is not 
improbable that the necessary instruments 
would be furnished by the government. The 
affiliation of this branch of railroad sanitation 
with the National Signal Service would be so 
manifestly advantageou=» to all concerned, that 
it could not fail of adoption. 

5. Railroad companies are constantly liable 
to receive persons and animals afiEected with 
contagious diseases for transportation in their 
cars, and no one would assert that it is proper 
to admit them. It is too much to expect that 
the ordinary officers of a company could be de- 



pended on to recognize and ward off all danger 
of this kind. Some advantag3 might be de- 
rived from printed rules, prepared by a medical 
man,but instances would arise calling for a med- 
ical diagnosis; and then a physician's certificjUe 
should be obtained to settle the doubts of the 
station-agent or train-conductor before admit- 
ting a suspected person on the train. As ani- 
mals are generally shipped only at a few im- 
portant stations, it would be easy to have the 
herds inspected by an expert beforehand.* 

It is beyond question that manj' animals are 
destroyed, and still more injured, during trans- 
portation by overcrowding and by confinement 
i-oo long without food and water. Strict rules 
should be framed to govern this kind of traf- 
ij, and nothing short of special supervision 
can secure their enforcement. Safety requires 
that this supervision should be exercised from 
a sanitary standpoint, and so constantly that 
;ts influence may never be wanting. , 

6. The experience of the yellow fever epi- 
demic of 1878 taught the managers of railroads 
running out of New Orleans particularly the 
usefulness of medical officers in their service 
during actual or threatened pestilence. The 
judicious efforts of sanitarians in 1879 pre- 
vented a general resort to the shot-gun quar- 
antines which characterized the year 1878. Had 
there been a sanitary organization in 1878 up- 
on the railroads, it is certain that they would 
have been spared much pecuniary loss, and the 
people along their lines much needless alarm 
and deprivation of the comforts of life. 

In the presence of danger from pestilence, 
people look to their physicians. The medical 
adviser of a railroad company can come to a ra- 
tional and probablj' satisfactory understanding 
with his professional brethren; and, if the peo- 
ple are distrustful, he can bring other medical 
men to meet them whom they will trust. 

Occasions arise when legislation, or discus- 
sion of questions in medical or other bodies, 
might effect the sanitary and material interests 
of railroads, and when their accredited medi 
cal representatives might be of great benefit. 
Their value would be most appreciated in their 
absence, as with life preservers in shipwreck. 

But whatever advantages may be claimed for 



* Since the above was written, a Kentncky stock- 
dealer has informed me that he suffered a loss of more 
than f 8,000 a few years ago from glandered horses and 
mules, which he is satisfied were infected in railroad 
cars. This he was constrained to bear without recourse 
to the ti-ansportation comoanies, from diflaculty of ee- 
tabliahing proof and aversion to litigation. 



railroad sanitation, either to the public or to 
the companies, the question of its adoption by 
any management will turn upon its probable 
financial success. It seems to be generally 
agreed that any system of relief maintained by 
a railroad company is better than to let the 
victims of accidents shift for themselves and 
look for reimbursement from the courts. To 
put the service directly under the general man- 
agement would be like leaving the workshops 
or the operation of the road without separate 
supervision. The superintendence is an ex- 
pense, but it is not presumed that men are best 
judges of what they are to do at a particular 
time, though they may know how to do it. 

As to physical defects, there can be but little 
doubt that it will cost a company more to find 
them out by a series of accidents, than to pay 
an expert to discover them before the men are 
trusted with lives and property. 

In fact, every feature of this service is de- 
signed to secure the company gainst pecuni- 
iary loss : 1, by reducing the cost of actual dis- 
asters to the lowest amount ; 2, by adopting 
precautions to obviate disasters; 3, by preserv- 
ing the health and securing the efficiency of 
employes ; 4, by avoiding the stigma of "com- 
mon carriers" of contagion and destroyers of 
live stock, with its incidental losses ; 5, by ob- 
viating interruption of business through quar- 
antine obstructions and expensive lawsuits for 
damages to person and property. It has there- 
fore the essential nature of insurance, with the 
substitution of the element of prevention tot 
that of relmbursermrd. What a gain would it be 
to fire and marine insurance if this substitu- 
tion could be achieved by any system capable 
of formulation, 

A few remarks upon the personnel of a rail- 
road sanitary service might here be appropri- 
ate. Suppose 1,000 miles of single track road 
to be under the same general management, one 
medical man should be capable of exercising 
sanitary superintendence of the whole. But it 
is to be understood that he must renounce pri- 
vate practice and every other occupation ex- 
cept this duty. Then there should be a dis- 
trict surgeon at every point where the crews o£ 
trains shift. The work shops would naturally 
fall into this arrangement. District surgeoni 
would attend the hospitals and be sent for in 
case of accidents within their own cr adjoining 
districts. These surgeons might attend to pri- 
vate practice. Their compensation from the 
company would be according to a settled tariff 
for surgical cases. Hospital service and the 



jk 



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66 



AMERICAN RAILROAD JOURNAL. 



r^Y'- 



medical attendance of employes and their fam- 
ilies might be at a fixed salary. I 

Examinations for physical condition of em- 
ployes would be made and carefully recorded 
by the chief surgeon, and he would also be the 
inspector of hospitals and all wounded per- 
sons. At every point where cattle in large 
numbers are shipped, there must be an inspec- 
tor of stock (a physician or veterinarian^ to 
see that no diseased animals are admitted and 
the rules enforced relative to overcrowding, etc. 

In addition to the above, it might be expe- 
dient to make arrangements with local pbysi- 
cians at all important stations along the line.s to 
render service, in case of accidents, at fixed 
rates of compensation. 1 

I cannot doubt that such a sanitary organi- 
zation would conduce to the common benefit 
of companies and employes : to the later, by 
contributing to their health and comfort ; to 
the former, by diminishing interruptions and 
derangements in their operations ; while their 
mutual relations would become more harmoni- 
ous and friendly, and danger of strikes and 
riots correspondingly diminished. In like man- 
ner its influence would be salutary, as affect- 
ing the relations of the company with the pub- 
lic. Norwithstanding the proverbial reckless- 
ness of the average American traveler touching 
his personal satet^y, there is a large fraction 
who value security from preventable accidents 
and diseases, and would manifest preference 
for a management where this consideration is 
recognized, ihey are the most intelligent and 
influential portion of the public and the best 
patrons of transportation companies. 

In the rivalry of numerous and competing 
routes, managers are wont to boast of the ad- 
vantages wfiich they offer in respect to econ- 
omy, speed, comfort, and even safety. Lib- 
eral expenditures are made to promote speed 
and comfort, in the confident expectation that 
they will be returned in augmented business 
receipts. It is certain that much might be 
done for promoting Siifety in the manner here- 
in indicated, and that the public might be in- 
vited to appreciate the offer through the usual 
advertising mediums. There is good reason to 
presume that many would be sensible to such 
an inducement and give preference to the safer 
pathway. Thus the premium on the insurance 
would be returned, and the saving of life and 
property \70uld be clear gain. I 

THE END. 



Union Pacific Railway. 



The Secretary of the Interior has transmitted 
to Congress the report of the Government 
Directors of the Union Pacific Railway Com- 
pany for 1881. The Directors claim that enor- 
mous benefits have resulted in the West from 
the completion of this railroad in developing 
latent resources. The report contains a detail- 
ed statement of the progress made in the con- 
struction of branch lines and of changes in the 
main road itself calculated to increase its effi- 
ciency. There were 75,692 acres of land sold 
for the nine months ending November 30, 
1879, at an average of $4.93 per acre. The 
local earnings of the company are said to be 
now 90 per cent of the surplus earnings, while 
at the beginning of its operations the through 



, ^JLT.- iH. ^Ji, 



'■■'■■:■ > X ■:■•■■■ '-' ■ 



freight represented 70 per cent of the earnings. 
The Directors have not considered it necessary 
to go into the financial operations of the com- 
pany, as these matters are embraced in the 
report to the Auditor of Railroad Accounts, 
which has been published. Speaking of the 
general condition of the road, the Directors say 
the track from Council Bluffs to Ogden could 
scarcely be in better condition. There is no 
smoother running road in the country. It is 
well ballasted with good cross-ties at suitable 
distances ap.nrt, and all but about 50 miles has 
been laid with steel rails. Every effort is 
raacje to keep the road in complete repair. Be- 
tween Council Bluffs, Iowa, and Ogden, Utah, 
there were laid during 1881, up to September 1, 
17,559.54 tons of steel rails, which would be 
equivalent to aboiit 192 miles of steel track laid 
during the season. Several hundred feet of 
pile bridges have been filed with embankment, 
and the road has been raised and widened in 
many places. The maximum grade was origi- 
nallj' 79.2 feet per mile. It has been a constant 
source of annoyance to the company, often re- 
quiring the division of freight trains to pass 
the steep grades. It has been reduced to 21 
feet per mile, and 50 cars will be as easily 
hauled as 18 were before the change. It re- 
quired a large outlay, not only to remove the 
earth, but to build the embankment necessary 
to overcome this grade. The unprecedented 
freshets in the Spring of 1881, and the long 
continued high water, worked serious damage 
to a considerable portion of the road in the 
Platte Valley, East of Columbus. All these 
damages have been repaired, and the road-bed 
has been raised at exposed places to high-water 
mark, all along the line through the Platte 
V.illey from Elkhorn to Columbus. The Direc- 
tors comment upon the great tide of immigra- 
tion now nowing to the West, and say it is 
likely to increase for years to come. In con- 
clusion the report says that there can no 
longer be a doubt as to the ability of the Union 
Pacific Railway Company to pay back every 
dollar it has received from the Goverment for 
construction pxirposes. 



Heat in Silver Mines. 



If there are to be found anjrwhere in the 
world a set of human salamanders we may 
claim the credit of having them here on the 
CorDstock. What would scorch a man who 
lives wholly on the surface chills a miner 
inured to the heat of the lower levels. A miner 
who has been for some months past working in 
one of the hottest sections of the Comstock, a 
day or two since gave an Enterprise reporter his 
experience of the heat which miners are often 
called upon to encounter. He says that, in 
working at points where the thermometer 
marks a temperature of 115 to 120 degrees great 
thirst is experienced. No ice-water is too cold 
to be swallowed with a relish. Men go to the 
water-barrel, in which huge chunks of ice are 
floating about, and will take their picks and 
chop up the ice in order that the water may be 
rendered colder by being filled with fine frag- 
ments. Often this does not satisfy them, and 
they chew and swallow lumps of ice. The 
natural temperature of the human body is 
about 98 degrees Fahrenheit. Therefore when 



a man reraain.s in a hot place for an hour, or 
even half an hour, his blood and his whole 
body become heated to a temperature of 115, 
120 degrees, or whatever may be the tempera- 
*;ure of the place in which he is at work. It is 
then that the miner begins to pour down ice- 
water and eat ice. The strangest thing about 
the business is that it does not hurt any of the 
men. Often they swallow such quantities of 
ice-water that their stomachs will not retain it, 
and in vomiting it up it will feel cold in their 
mouths and against their teeth. All thej' do on 
such occassions is to swallow more of the same 
water, but more cautiously. — Virginia (JVeu.) 

Enterprise. !• • 

Imports of Dry Goods at New York. 



The Imports of Foreign Dry Goods at New 
York for the month of January, were : 

ENTERED FOR CONSUMPTION. 





1880. 


1881. 


1882. 


Manufs. of wool — 


f 1.516,412 


$1,311,541 


$1.868,C98 


Maniifs. of cotton. . . 


2,346.615 


2,498,788 


2.776.525 


Manufs. of silk 


2.374,558 


2,032,814 


2,922.136 


Maniifs. flax 


1.710,446 


964.717 


1.037,0.3 


Miscell. dry goods . . . 


660,038 


607.390 


767.153 


Total ent. for con- 






sumption 


$8,608,069 


$7,415,250 


$9,641,835 


WITHDRAWN FROM WAREHOUSE. 






1880. 


1881. 


1882. 


Maniifs. of wool 


$498,983 


• $6;,'5.492 


$544,319 


Manufs. of cotton... 


4G1,74G 


930,999 


658.110 


Manufs. of silk 


407,144 


580.233 


518.853 


Manufs. of flax 


490,664 


6.S4.183 


468,336 


Miscell. dry goods.. 


154.064 


194.572 


197,925 


Total withdr'n from 








warehouse 


$2,012,601 


$3.0S5.479 


$2,387,543 


Add ent. for con 


8.608.069 


7.415,250 


9.641,836 


Total thrown on the 






market 


$10,620,670 


$10,500,729 


$12.0'i9.378 


ENTERED FOR Warehousing. 






1880. 


1881. 


1882. ; 


Manufs. of wool 


$501,638 


$578,274 


$643,490 


Manufs. of cotton.. 


416,839 


735.142 


752.097 1 


Manufs. of silk 


326,731 


528,088 


585.035 i 


Manufs. of flax 


658,025 


619,307 


481.184 j 


Mis. dry goods 


203,579 


25-^,4'i6 


222,799 


Total ent. for ware- 








house 


$2,106,812 


$2,713,236 


$2,684,605 


Add entered for con- 






i 


sumption 


8,008.069 


7.415,250 


9.641.835 i 



Total entered at portSlO.7 14.881 $10,128,486 $12,326,440 

The Imports of Foreign Dry Goods at New 

York for seven months ending with January 



were : 



ENTERED FOR CONSUMPTION. 







1880. 


1881. 


1882. 


Manufs. 


of wool. . . 


$10,388,185 


$10,121,729 


$12,229,246 


Manufs. 


of cotton 


9.967,255 


n.L- 6.180 


12,544,501 


Manufs. 


of silk 


15.631.545 


15.932.311 


19.681,306 


Man Ills of flax. . . . 


7,5i!9.117 


5,t)58.476 


7.565,901 


Mis. dry 


goods. ... 
Qtered for 


4.100,959 


4.541.256 


4.98.5,174 


Total e 








consumption . . . 


$47,687,061 


?47.409,952 


$57,006,188 




WITHDRAWN FROM WAREHOUSE. 




- 




188J. 


1831. 


1832. 


Manufs. 


of wool. . 


$3.80,^235 


S6.888.429 


?4.785.838 


Manufs. 


of cotton. 


1.991,538 


3.1-30.125 


2.233.038 


Manufs. 


of Silk.... 


2.347.272 


4.0-29,116 


3.031.738 


Manufs. 


of flax... 


2,216.974 


3.032,428 


2.420.309 


Mis. dry goods 


834.818 


1.28f<,7£4 


1. '^91. 743 



Total withdrawn 

fromwirehouse. $11,198,837 $17,363,852 $13,762,660 
Add entered for 

consumption . . . 47.687.001 47.409.952 57.006.188 



Total thrown on 
the market $58,885,898 



$64,778,804 $70,768,864 



ENTERED FOR WAREHOUSING. 



Manufs. 
Manuls. 
Manuls. 
Manufs. 
Mis. dry 



of wool... 
of cotton. 

of silk 

of flax 

goods 



1880. 

$3,790,776 

2.026.563 

2,457.605 

2,746.i)00 

993,842 



1881. 
$5,977,403 
3.117.705 
4.123,580 
3.15cJ.893 
1.834.693 



1882. 
?4.199,178 
2,246.313 
3,'^62,829 
2,392.346 
1.339.347 



Total entered for 

warehouse $12,015,346 $18,212,272 $13,440,018 

Add entered for 

consumption . . . 47,687,061 47.409.952 57.003.188 



Total ent. at port. $59,702,407 $65,622,225 $70,446,208 

The figures given above represent the net 

gold value of the goods as invoiced, without 

the addition of freight or duty. 



-'., :.•., !v,;ij..iiif! 



AMERICAN RAILROAD JOURNAL 



I 67 



PUBLISHED WEEKLY BY THE 

AMERICAN BAILROAD JOURNAL CO., 
At 23 Liberty Street, New York. 

SxibBcription, ppr annnm. in advance $5 00 

Foreign Subscription, including postage 6 00 

Pnrchasep for the American Railtioad .TotniN*T> Co. are 
tnthorized only by the written order of Geo. F. Swain, 
Treastirer: and (he Company will not be respousible lor 
the payment of bill.s nulesp accompanied by such order. 

Subscribers are requested to report to our office any 
irregularity in receiving the Jouenal. 

Contributed articles relating to Railroad matters gen- 
erally. Milling interests. Banking and Financial items. 
Agricultural development, and Manufacturing news, by 
those who are I'amiliar with these subjects, are especial- 
ly desired. 

PaymeutB for advertising and subscriptions should be 
made by check payable to order of the Treasurer. 



BRANCH OFFICE: 
53 Devonshire St., Boston, Mass. 



Mr. FnEDKTiic Aloak, Nos. 11 and 12 Clements Lane, 
Lombard Street, London, E. C, England, is the author- 
ized European Agent for the Journal. 

New York, Saturday, February 4, 1882. 



Entered at the Post Office at Xew York City as Second-Class 
Mail Matter. 



LEGAL RIGH^TS OF PASSENGERS. 

rpHE recent disaster at Spuy ten Duy vil sharp- 
ly emphasizes several features in present 
systems of railroad management. The accident 
has occurred, the dead cannot be brought to 
life, the injuries received cannot be repaired 
with money, no adequate reparation can be 
made for wounded hearts. But does the law 
provide no remedy whatever in such cases? 
Must travelers injured on a railroad accept a 
coroner's verdict in full satisfaction for broken 
bones? What remedies have the relatives of 
the persons killed in that terrible disaster? 
What remedies have the survivors ? What are 
the legal rights of passengers who have been 
injured in a railroad collision ? 

The general rule is that where an injury 
happens to a passengers on a railroad the per- 
son injured makes out a prima facie case by 
showing that he had a ticket, that the accident 
happened, and that in consequence of this acci- 
dent he sustained damage. When these facts 
are made to appear, it is for the railroad com- 
pany to excuse the prima facie failure of duty ; 
to show that, notwithstanding, the accident 
happened in spiie of the use, by the company, 
its servants, and the contractors by whom its 
road, appliances, and coaches are built, of the 
greatest degree of diligence practicable under 
the circumstances. In other words, it must 
show, in order to rebut this presumption, that 
the accident resulted from circumstnnces 
against which human care and foresight could 
notguard. ,.:;.;;;.;:.;: 

Carriers of passengers are bound to use ex- 
traordinary care and skill to secure the safety 
of their passengers. In the language of the 



New York State Court of Appeals, it has been 
said that •' every wayfarer must take the risks 
incident to the mode of travel he adopts ; but 
these risks are only those which cannot be 
avoided by the carrier of passengers by the 
utmost degree of care and skill in the prepara- 
tion and management of the means of convey- 
ance." The Supreme Court of the United 
States expresses the doctrine more strongly 
when it says, "When carriers undertake to 
convey persons by the powerful but dangerous 
agency of steam, public policy and safety 
require that they shall be held to the greatest 
possible care and diligence. The personal 
safety of passengers should not be left to the 
sport of chance or negligence of careless agents- 
Any negligence in such cases may well de- 
serve the epithet of 'gross.'" Railroad com- 
panies must adopt such rules and regulations 
for the running of itheir trains as will insure 
safety, and after adopting them they must eon' 
form to them or be responsible for injuries to 
passengers resulting from a departure from 
them. 

Inasmuch as a railroad company, like other 
corporations, must become liable for the most 
part through the acts of its servants or 
agents, it is liable for the acts of the servants 
in its employment, although its servants do 
not follow or actually disobey its instructions, 
general or special. It is no answer for a 
railroad company to s:"iy that the negligence of 
n stranger concurred with the negligence of the 
company to the injury of a passenger. If the 
New York Central Railroad can i^rove, for 
instance, that the primary cause of the acci- 
dent at Spuyten Duyvil was the pulling of the 
cord of the air brake by one of the passengers 
it will not relieve it from the failure of the 
brakeman Melius to go back, or from any other 
negligence on its part which contributed to the 
injur}'. Assuming the facts to be as stated by 
newspaper reports,the survivors of the accident 
have an undoubted cause of action against the 
railroad company. , 

The damages recoverable for the bodily 
pain and suffering of those injured are not 
limited to the suffering experienced before the 
trial of the case, but extend to such future 
suffering as will probably result from such in- 
juries. At common law, where a person was 
killed by the negligence of a person or corpora- 
tion no right of action survived ; but the 
statute law of England, which has been fol- 
lowed in New York State, provides an action 
for damages not to exceed five thousand dollars 
in case of death upon a railroad, caused by the 
fault of the company, although such death 
was instantaneous. There can be no doubt 
whatever but that the injured survivors of the 



Spuy ten Duj'vil disaster and the relatives of 
those who were killed in that accident have a 
complete remedy at law, although that remedy 
is lamentably inadequate. I 

We have no reason to believe that the New 
York Central Railroad will refuse to make all 
the reparation in their po\\er to the friends of 
those who were injured, but we have very 
briefly stated the !aw applicable in such cases, 
thinking that it might be of general interest. 



TRUST COMPAWTES. 



\ TRUST company differs, or should differ, 
from a National or a State bank in sev- 
eral particulars. In the first place a Trust 
Company should never be a bank of issue ; 
that i.s, it should have no circulation of its own, 
no bills or notes on the market subject to re- 
demption on demand. In the second place, it 
.should never be a bank of discount. National 
and State banks can rightfuUj' take the risk of 
discounting paper for their depositors, for as 
a rule they h-jld no funds in trust, and are or- 
ganized as mediums of exchange between bus- 
iness men. A Trust Company, however, is not 
designed as any such medium, and in its ca- 
pacitj' of a guardian cannot assume the usual 
business risks. In the third place a Trust 
Company should never for an instant engage in 
any speculative enterprises, either in the in- 
vestment or loaning of its monej's. no matter 
how fair a promise such enterprises may give. 
The object of a Trust Company is not so much 
to make money as to carefully guard and return 
with a fair interest when called for the funds 
committed to its care. In addition to the above 
there are other things a Trust Company should 
not attempt, but these three that are mention- 
ed will serve to guide the mind in that direction 
sufficiently for all intents and purposes. These 
thoughts lead us to the contemplation of what 
is the object and what the purposes of a Trust 
Company, The name implies that such a com- 
pany is a corporation formed for the purpose 
of holding property in trust. i 

This is so broad and comprehensive that we 
have taken the pamphlet of one of our safest 
Boston companies, to specify these purposes 
in detail. 

•' Said corporation shall have power to re- 
ceive and hold moneys or property in trust or 
on deposit from courts of law or equitj', in- 
cluding courts of probate and insolvency, ex- 
ecutors, administrators, assignees, guardians, 
trustees, corporations, or individuals, upon 
such terms or conditions as may be obtained 
or agreed upon." 

In harmony with the foregoing powers the 
courts are authorized to direct, by decree or 
otherwise, any moneys or property under their 
control, to be deposited with such companies, 
provided said companies shall assent ta exe- 
cute the trust to be committed to theixL 



Vfftfr.M-ilrtai'iiiMi'i'iif riiifaJV iridiY" • ,uii'fr- ■■ '-'riir 



• PPr'?\ 



68 



AMERICAN RAILROAD JOURNAL. 



"With such almost unlimited powers of re- 
ceiving moneys and property, and the courts 
so fully authorized to use them as depositories, 

. it follows as an act of wise legislation that the 
act of incorporation should regulate by law 
the character of investments for such a compa- 
ny. These investments for this Boston com- 

" pany are specified to be, the authorized loans 
of the United States, or any of the New Eng- 
land States; or counties, cities or towns of any 
of the New England States ; in the first mort- 
gage bonds of any railroad company which has 
earned and paid regular dividends for two years 
preceding such investment, or in the bonds of 
any such railroad company as is unencumbered 
by mortgage, or in the stock of such railroad 
companies incorporated by this State ; and the 
said corporation may make loans upon mort- 
gages on real estate within this commonwealth, 
or upon the notes of corporations created under 
the laws of this commonwealth, and the notes 
of individuals with a sufl&cient pledge as collat- 
eral of any of the aforesaid securities- In fact, 
such a company may invest in those securities 
which are permitted to savings banks and under 
like restrictions. The Commonwealth granting 
the act of incorporation provides for certain 
stated examinations by the savings bank com- 
missioner, which, with the examinations given 
by the committee appointed by the director.^ 
and stockholders, do not leave much room fox 
malfeasance in office^ except through the crim- 
inal reglect of those examining, | 

But something more is needed than what 
has already been stated in order to secure ab- 
solute safety. A corporation which is author- 
ized to act as agent for the purpose of issuing, 
registering, or countersigning the certificates ol 
stock, bonds, or other evidences of indebted- 
ness of any corporation, association, munici- 
pality, state or public authority, and to receive 
and make payments on account of the same, 
require a safeguard more absolute than is cov- 
ered by the honesty of its employes and the 
examination by properly appointed officials. 
Such a corporation requires that the men own- 
ing the stock — the individual stockholders—shall 
severally and collectively be men of undoubted 
character as well as ability. The New England 
Trust Company of Boston meets this point 
with a courage that is worthy of imitation. 
In their By-Laws appear the following articles. 

Appraisal akd Sale of Shares of Capital 

Stock. 
Article. 7. Any member of this corporation 
who shall be desirous of selling any of hi.^ 
shares; the executor or administrator of any 
member deceased; and the gr.mtee or a.ssignee 
of any shares sold on execution, shall cause 
such, their shares respectively, to be appraised 
by the directors, which it shall be their iluty to 
do oil request, and shall thereupon offer the 
same to them for the use of the corporation, at 
such appraised value; and if said diiectors shall 



choose to take such shares for the use of the 
corporation, such member, executor, adminis- 
trator, or assignee shall, upon the payment or 
tender to him of such appraised value thereof, 
and the dividends due thereon, transfer and 
assign such share or shares to said corporation; 
provided, however, the .said directors shall not 
be obliged to take such shares at the appraised 
value aforesaid, unless they shall think it for 
the interests of the company ; and if they shall 
not, within ten days after such shares are of- 
fered to them in writing, take the same and 
pay sucli member, executor, administrator, or 
a.ssignee therefor the price at which the same 
.shall have been appraised, such member, ex- 
ecutor, administrator, or assignee shall be at 
liberty to sell and dispose of the same shares to 
any person whatever. 

Article 7. (Amended January IG, 1878.) It 
shall be the duty of such executor, administra- 
tor, grantee or assignee to offer said shares for 
appraisal and to be taken by the corporation, 
if it shall so elect, whenever requested by the 
Actuary or Secretarj-, and no dividends or in- 
terest shall be paid or allowed after a failure 
to comply with such request : provided, that 
such request shall not be made until after the 
payment of one dividend and the expiration oi 
six months from the death of the owner, or sale 
as aforesaid; but the offer may be made at any 
earlier period if the party shall prefer. 

Article. 8. The directors shall have power, 
and it shall be their duty, to sell and dispose 
of the shares which may be transferred as afore- 
said to the corporation, whenever, in their 
judgment, it can be done with safety and ad- 
vantage to the corporation; and in all sales 
made by the directors, under any of the afore- 
said provisions, it shall be their duty to sell 
the shares to such persons as shall appear to 
thorn, from their situation and character, most 
likely to promote confidence in the stability ol 
the institution ; no greater number than one 
hundred shares being assigned to any one per- 
son ; nor in the case of a person already amem- 
l)er, a gre.ater number than will be sufficient to 
increase his previous number to one hundred 
shares. 

So far this company has strictly adhered to 
these articles, and all stock offered has been 
bought by the company ; and the stock thus 
bought has been sold by the compan}', the di- 
rectors voting on the list of applicants as to 
who should be elected to become a stockholder. 
By strictly adhering to these articles, a compa- 
ny originally composed of the best citizens of 
Boston has been enabled to always remain 
the same, as these men, having all the power, 
are careful not to associate with themselves 

men of doubtful character or speculative tend- 
encies. 

Now as railroad companies have great need 
and use for ju.st such corporat-ons, it well be- 
comes the directors of these roads to pay par- 
ticular attention to the question of who are the 
stockholders of a Trust Company before giving 
it power to act as its agent. That Trust 
Company whose stock is hawked about or sold 
in open market is liable sooner or later to fall 
into the hands of designing men who will ma- 
nipulate its moneys to the detriment of all inter- 
ested. The National and State banks cannot 
well be close corporations, but a Trust Compa- 
ny should never be anything else. Here is a 
point about which railroad companies have not 
been strenuous enough, and we call their at- 
tentiop to it, in their dealings with Trust Com- 
panies. 



CONSTRUCTION. 



Hoese-car lines are projected between many 
villages in Italy on the roads built by the old 
Romans. . j 

The track of the Guaymas Eailroad in Sonora 
is now laid to within 20 miles of Hermosillo, 
and it is being extended at the rate of a mile 
and a half per day. I 

The terminus of the Pembina Mountain 
branch of the Canada Pacific Eailway has been 
definitely located on N ^, sec. 30, Tp. 3, R 8, 
the site of Manitoba City. 

The Northern and Union Pacific Railroad 
companies have arranged for a third rail on 
the Utah Northern, so that equal privileges can 
be enjoyed at Helena and Butte, Montana. 

The work of construction on the California 
Southern Railroad is being vigorously pushed. 
On the 18th ult. the track was four miles above 
San Ysadora, on the Santa Margarita Ranch. 

The new ferry boat Jamaica, built for the 
Nassau Ferry Company of New York, was 
launched from the Harlan & Hollingsworth 
yard, in Wilmington, Delaware, on the 31st 
ult. V ' \ ' '- 

It is announced in Rochester that the New 
York, Lake Erie and Western Railroad Com- 
pany has decided to build aline from Dansville, 
Livingston county, to join the main line at 
Burns, Alleghany county. 

The contract for building a railway tunnel 
under the St. Lawrence river, at Montreal, has 
been awarded to J. B. Roailliard, for $3,500,- 
000, including drainage and lighting complete, 
the work to be finished in 1885. , 

The New Bedford Standard says that the 
Whitney Company have abandoned the project 
of constructing the Cape Cod Canal, careful 
estimates made on the recent surveys showing 
the cost to be more than a million dollars above 
what was expected. I 

The contract for building the Pemigewassett 
Valley Railroad has been awarded to Patrick 
Kiernan, of Chelsea, Mass., who has already 
sublet most of the work. Operations are to 
begin February 8, and the road is to be finish- 
ed to Woodstock by November 1. 1 

The superintendent of the Boston and Maine 
Railroad purposes to inclose the heater in every 
new car which he builds in a compartment of 
riveted boiler iron. The extra expense will be 
only $100, a small sum compared with the cost 
of a car and the dangers thus avoided. 

It is reported that the Canada Pacific Rail- 
way Company have enough material now at the 
end of their track beyond Brandon to construct 
upward of twenty miles additional road, and 
expect to have enough forwarded to tbe same 
point by the first of May to construct 300 miles 
of road next season. 

The engineers of the Philadelphia and Read- 
ing Railroad Company commenced on the 30th 
ult. the survey for a new branch road connect- 
ing Shamckin and Danville. This is one of 
the necessities of the recent connection of the 
Pine Creek road with the New Y'ork Central 
branch at Williamsport, and will be a short 
cut from the East Mahanoy coal fields. At 
present all the coal destined for the West must 



. '• :ifa,'^Vib.[k*>&a*'^w.'H4 



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■^V^.^J«^ 



AMERICAN RAILROAD JOURNAL. 



69 



be carried around the two sides of a triangle 
via East Mahanoy and the Catawissa Railroad 
to Danville, making in all about sixty miles. 
The new branch will be only fifteen miles in 
length. ' : '; 

The project of extending the Ulster and Del- 
aware Railway from Stamford, its present west- 
ern terminus, to Cooperstown, a distance of 22 
miles west, is being again agitated by the citi- 
zens of the latter village. It is claimed that by 
such extension a considerable saving of dis- 
tance and time between that point and New 
York and other leading points would be effected. 

The Richmond and Danville Company have 
completed the Western North Carolina Rail- 
road to Paint Rock and Pigeon River. Trains 
are now running to both points. This com- 
pletion was made within the time as extended 
by Gov. Jarvis and treasurer J. M. Worth, and 
put an end to all talk of a forfeiture of the con 
tract because the road was not completed by 
November 1, 1881. 

The New York, Lackawanna and Western 
Railroad has been completed in single track 
for a distance of 146 miles, leaving only 40 or 
50 miles of track more to be laid. This com- 
pleted distance is not in one continuous line, 
but the road has been finished with double 
track as f.ar west as Waverly, to which place 
trains are running regularly. It is expected 
that the line will be extended at an early day 
as far as Elmira. 



PERSONAIi. 



James A. Millholland manager of the 

Georges Creek and Cumberland Railroad, has 

inventad an important improvement in the 
coal-car brake. 

John Thomas has received the appointment 
of general superintendent of the Chicago divi- 
sion of the Baltimore and Ohio Railroad, with 
headquarters at Chicago. . 

Dr. H. 0. Walker has received the appoint- 
ment of surgeon of the Wabash, St. Louis and 
Pacific Railway for all points on the line be- 
tween Detroit and Adrian. 

B. E. Nichols has been appointed traveling 
freight agent of the Illinois branch and the 
Springfield division of the Illinois Central 
Railroad, in place of W. W. Chamberlain, re- 
signed. 

Wm. E. R'utter, of Elmira, N. Y., car tracer 
of the Pennsylvania Railroad, and father of 
James H. Rutter, third vice-president of the 
New York Central and Hudson River Railroad, 
died suddenly on Saturday of heart disease, 
aged 70. ^r: ...-;:" ^": 

The mother of the Marquis of Bath, whom 
the Prince and Princess of Wales visited last 
month, was a Baring, and her son is credited 
with the remark that it would take two genera- 
tions to wash the stain of commercial blood off 
his escutcheon. 

When the Central Vermont Railroad was 
built, J. R. Booth of Burlington worked as a 
common bridge hand. Now he is the largest 
timber limit owner in Canada, owning 2,225 
square miles, or 1,423,300 acres— an area equal 
to more than one-fifth of the State of Vermont. 

Wm. J. Walkbe, late of the Gilsey House, 



New York, has been appointed superintendent 
of the Baltimore and Ohio Railroad Company's 
hotels. His headquarters will be at the Queen 
City Hotel, at Cumberland, Md. Mr. Walker 
succeeds Captain J. P. Dukehart, who has held 
the position of manager of the company's hotels 
for about two years. 

At a meeting of the directors of the St. Louis 
and San Francisco Railroad in this city on the 
27th ult.. Jay Gould, Russell Sage, C. P. Hun- 
tington and Leland Stanford were elected 
members o£ the board. Places \rere made for 
them by the resignation of Walter L. Frost, 
Alden Speare and Francis B. Hayes of Boston ; 
and Ozias Bailev of White Cloud, Kansas. 

S. T. Fuller has been appointed general 
siiperintendent and chief engineer of the 
Northern division of the Mexican National 
Construction Company and the Mexican 
National Railway Company, as also general 
superintendent and chief engineer of the Texas- 
Mexican Railway. His duties as general sup- 
erintendent and chief engineer will extend 
over all the lines of these companies north of 
San Luis Potosi, including the Matamoras 
division. 

It will doubtless be remembered by many 
that Marcus Morton was elected Governor of 
Massachusetts by one vote. After his retire- 
ment from oflSce, the Governor was going to 
Boston from a neighboring town in a train 
which was late. It was half past 12 o'clock, 
and a lady who was anxious to be in Boston 
inquired of the Governor what time, in his 
opinion, the train would reach the station. 
Taking out his watch, and with a twinkle in 
his eye, he replied, "I generally get in by 



one. 



ORGANIZATION. 



The directors of the Providence, Warren and 
Bristol Railroad Company, elected on the 30tL 
ult., are : T. P. I. Goddard, William R. Robe 
son, Henry A. Whitney, William Goddard, 
Francis M. Weld and Royal C. Taft. Mr. Whit- 
ney was re-elected president. 

At the recent annual meeting of the Elkhart, 
Niles and Lake Michigan Railroad Company, 
the following directors were elected : F. M. 
Gray, Thomas L. Stevens, E. L. Badger, J. C. 
Larimore, of Niles ; H. W. Williams, of Ben- 
ton Harbor ; J. Wade, W. S. Jones, Cleveland; 
C. W. Beck, Elkhart ; C. E. Cowgill, Wabash. 
At a meeting of the directors F. M. Gray was 
elected president ; E. S. Badger, vice-presi- 
dent ; J. C. Larimore, treasurer ; and George 
F. Edwards, secretary. 

The stockholders of the Cambria Iron Com- 
pany, at their recent meeting in Philadelphia, 
re-elected the following board of directors : E. 
Y. Townsend, D. J. Morrel, C. S. Wurtz, John 
M. Kennedy, Geo. L. Oliver, Samuel Welsh, I. 
V. Williamson, David Reeves and Henry Lewis. 
At a subsequent meeting of the directors, E. Y. 
Townsend was re-elected president ; Charles 
Wurtz, vice-president ; Daniel J. Morrell, gen- 
eral manager ; John T. Kille, treasurer, and 
W. S. Robinson, secretary. :: 

At the annual meeting of the Fitchburg Rail- 
road Company, held in Boston on the 31st ult., 
the following gentlemen were unanimously 



el*!cted directors, the first five being of the 
old board : William B. Steams, Seth Bemis, 
Robert Codman, Rodney Wallace, C. U. 
Cotting, Franklin N. Poor, and Charles T. 
Crocker. Subsequentlj' the directors organized 
by the choice of William B. Steams as presi- 
dent; T. Whittemore, clerk ; and M. D. Benson, 
treasurer. 

The first annual meeting of the stockholders 
of the New York, Chicf^o and St. Louis Rail- 
way Company Mas held at Cleveland. Ohio, on 
the 31st ult., at which the following directors 
were unanimously elected : C. R. Cummings, of 
Chicago, 111. ; C. S. Brice, of Lima, Ohio ; Sam- 
uel Thomas, of Columbus, Ohio ; .Daniel P. 
Eells, of Cleveland, Ohio ; Gov. Charles Foster, 
of Fostoria, Ohio ; George I. Seney John T. 
Martin, H. R. Lyman, Walston H. Brown, Wil- 
liam Flannery, and Alexander White. No re- 
port was made. 

The following gentlemen were elected direc- 
tors of the Jersej' Shore, Pine Creek and Buffa- 
lo Railroad Company, at the annual meeting of 
the stockholders held at Coudersport, Penn., 
on the 23d ult.: Walter Sherwood, John W. 
Bailey, Jerome B. Niles, Anson Hardt, William 
Howell, Jr., E. G. Schieffeline, Jefferson Harri- 
son, William H. Vanderbilt, Cornelius Vander- 
bilt, Augustus Schell, William K. Vanderbilt, 



George J. 



Magee. 



The officers are Henry 



Sherwood, president ; George S. Magee, vice- 
president ; Cornelius Vanderbilt, treasurer. 

At a meeting of the stockholders of the Allen 
Paper Car Wheel Company, held the first day 
of Februarj', 1882, the following named persons 
were elected directors of the company, for the 
ensuing year : A. G. Darwin, A. P. Condit, R. 
J. Beach, J. C. Beach, Stephen F. Gale, J. E. 
Gillette, R. N. Allen, C. G. Hammond, Geo. C. 
Clarke. Subsequently, at a meeting of the 
board of directors, the following officers were 
elected : A. G. Darwin, president ; J. E. Gil- 
lette, 1st vice-president : Geo. C. Clarke, 2nd 
vice-president ; J. C. Beach, treasurer, C. H. 

Antes, secretary. 

^ 

Discipline. 



The absence of discipline among subordi- 
nates is usually attributed to a lack of that ca- 
pacity in the management, as the successful 
and competent chief, if possessed of the organ- 
izing and executive ability demanded by his 
position, is expected to display the neces- 
sary power for diffusing his system throughout 
all branches of the service. 

Discipline, if properly administered, always 
commends itself to intelligent subordinates, 
and they soon hold that superior in high esteem 
who requires a strict obedience to every order, 
by which their own as well as the public safety 
is assured. They become inspired, under such 
control, with a true pride of office, siich as is 
known in military circles as '* esprit de corps." 

A competent and thorough disciplinarian is 
never a tyrant, but exhibits a wholesome con- 
trol, is easily approached, and has a willing 
ear for all wrongs. His power proceeds from 
unremitting attention to his own duties and 
his personal recognition of all orders, rather 
than from any severity of manner ; though the 
penalty of disobedience may and should be 
swift and sure. 



mmmf 



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70 



AMERICAN RAILROAD JOURNAL 



?M.Tvi- ~j T^. -."- 



rnjTt^ 



New York Stock Exchange. 

(Thursday's quotations follow money article.) 

Closing Pi'ices Jor the week ending Feb. 1. 

Th.26. F.27.Sat.28 .M. Sf. Tu.3l.W.l. 

Adams Express HI 147 

Albany and Susq 132 

1st raortgaye 

2d mortgage 

American Express.. 93 ^^ U3 

Atlantic & Pac. Tel 

Burl., C. R. k Nor 

1st mortgage 5s.. 

Canada Southern . . 

1st mortgage guar 

Central ot N. Jersey 



9ft 



9i 



92 >i 



100 !i 
53 1^ 
953-, 
94 Ji 



54 'J 
95 3i 
98 



100 

54»i' 
95 ii,- 



95^i 

115 iis 



98 

52 '4 
95 



100 i 

51 
95 

943i 



99Ji 

53 

95 

ift'i 



Ist mort. 1890 119):^ 

7s, consol. ass... 115 115 

78, convertible ass 

78. Income 102 

Adjustment 103 



Central Pacific 88 >i 



gold. 



lU.' 



80^,' 
114 ii 



88 ?i »7?i 
114 



88 Si 
114 



88 U 



116>i l]6>i 



39 ^i 39 «i 
98 U' 98 ?i 



68, 

Ist M. (.San Joaq) 

IstM. (Cal. & Or.) 

Land grant 6s 105?^ 

Chesapeake & Ohio. 23 >i 24 >i 24 Ji 23;^ 23 Ji 

1st, series B 81 >i 81 

Chicago and Alton 134 >i 134,^i 13.3% 132 Ji 133 

Preferred 

1st mortgage 121 ; 

Sinking Fund 



137 ^i 134 



108?^ 
122 >i 



107 ?i 
121 >i 



134 
126 

108 
121 Ji 



135 



109 
132 >, 



119 120 

130 ?i 135 j^ 
140 144 



111 
124* 



133 >i 



127 126 ,'4 126% 



133 )i 



132 '„ 



126 



in2>i 
126 



81 Ji 78 '4 79,'i 



Chi,. Bur. * Quincy I35>i 138 
7s, Consol. 1903 126 

Chi.. Mil. * St. Paul 107 >i 109 }i 

Preferred 122 >i 

1st mortgage, Ss 

2d mort., 7 3- 10s 

78, gold 125 

Ist M. (La, C. div) 

IstM. I. &M.div.) 119 

l8t.M.(I. <t D.ext.) 

l8tM. (H.i^D.div.) 

lstM.(C.«:M.div.) J22>i 123 

Cousohdated S. F. 119 liO 120 ... 

Chi. i^ Northwestern 127?^ 1303i 129?4 129 

Preferred 139 U 149 ,'i 140 >i 139 

1st mortgage 

Sinking Fund Gs 

Consolidated 7s.. 134 
Consol. Gold bo'da 127 
Do. reg 127 

Chi.. R. Isl. & Pac. 133 ?4 
6s. 1917, c 

Clev.,Col.,Cin.&Ind. 80 '4 
1st mortgage 

Clev. & Pittsburg gr 135 

7s, Consolidated 

4th mortgage 

Col..Chi..A:Ind.Cent. 1915^ 19^ 19^ 19 Ji 19,'4' 19 >i 

1st mortgage 

2d mortgage 

Del. & Hud Canal. I08>i 107 107 106;^ lOC.'i 106>, 

Keg. 7s, 1891 

Reg. 7s. 18!i4 in4>i 

7s, 1894 

Del., Lack. .^Western 124 Ji 

2d mortgage 7s 

78, Consol. 1907 

Erie Railway 

1st mortgage... 
2d mort. 5s, ext. 

3d mortgage 107 107>_ 

4th mort. 5s, ext 

6tb mortgage 112 

7b, Consol. gold 

Great West. Ist mort 

2d mortgage , 

Hannibal* St. Jo.. 95 '4' 95 '4 95,'^ 95 94 Jf 95 '4 



X.V.Cen.&Hud.R. 1307i Hl^ 130>^ 129>i 129^ 130'^; 

)?8. K V. 1Sh:< lOiJi 

6s, S. F., 1887 

1st mortgage 134?^ 133 >i 134 

1st mortgage, reg 

N. Y. Elevated 109?J 108 

Ist mortgage... . 116>i 116>i 

N.Y.& Harlem 

Preferred 

1st mortgage .... 135 

1st mortgage, reg 

N. Y. , Lake Erie k W 40?^ 40;44 10 '-^ 39 

Preferred 81 'a 79 

2d Consolidated.. 99^4 100 99 >i 98 ri 

New 2d 5s fund 95.'^ 

M.Y.,N.IIav'n&Hart 17l,;.i 

North Mo. 1st mort 119 UOJi 

Northern Pacific ... 35 ^ 3') ?i 35 '4 34 '4 
rrelerre.l 72^ 74 72*.^ 71?^ 

Ohio & Mississippi 34,'^ 34>J 

-Pralor #>.l 

2d mortgage 

Consolidated 7s 117>4 

Consol. S. Fund 

Pacific Mail S. S. Co il^i 42»i iiJi il^i 42 

Pacific R. R. of Mo 

1st mortgage 110 109 

2d mortgage lllii 

Panama 15)0 

Phila. «: Reading.. 63^^ 5i>4 63 >i Gl'4 GUi 
Pitt.«,rt.W.*Chi.gtd 

1st mortgage 

2d mortgage 

3d mortgage 

Pullman Palace Car 139 139.^ 140 135% 135 136J 
Quicksil'r Min'g Co 



33):^ 



34 

100 '4 



171)^ 
120 

31 '4 

72 ^i 

3314 



iVA 



62 )i 



Preferred 611^ 



St. Louis & San Fran 41 

Preferred 61 

1st Preferred 102 

St. L., Alfn & T. H. 38 



»*x4 
64 
100 ^J 

37 



43 >i 
6J 
101 >i 



42 

6U^ 



60}^ 

41 !4 
58 



36 
41 



39 
81 



41(4 
57?^ 
98 >8 

35 
80 



I'JO 109 



115 

lOJ 



125;i 



107 ii 



119 ij ... 

125 'i 124 ,'i 125?i I26?i 



107 ;4 109 U 109 107 



8.^.' 



Prelerred 

8s. Convertible 

Houston & Tex. Cen >>^)i 83 >$ 

1st mortgage 111^110 

2d mortgage 124 

lUinois Central... 134 135 ?i 135 133 V,' 

LakeShoreA:MichSo 112 112?i lll?i 103^ 

Consol. 7s 

Consol. 7s, reg 

2d Consolidated 

Leh. & W. B. 7s, Con 

Long Dock bonds 

Louisville k Nash. 95 96>4 94 >i 93 '4 

78, Consolidated 

Manhattan 55 55 'i 54 -'i 54 'i 

let pref 97 >i 

IfAt. Elevated 81% 

1st mortgage lOO'i lOO;?^ 

Michigan Central.. 86 >i 87 .'i 
7s, 1902 

Morns « Essex 122 123 

Ist mortgage 138 

2d mortgage 

76 oi JM71 125 

Vs, Ouuvert.ole 



108 .'i 108^4 
80>^ 



134 'i 
llO^i 



124 
135 ;Ji 
111 



94 



94^4 



Pr(:f eiTed 32 

1st mortgage 

2d mort. prof 110 

Income bonds 

St. L., Iron Mt. &S 

1st mortgage 

2d mortgage 109 

Toledo and Wabash 

1st mortgage Ill 

2d mnrtgaue 

7s, Consolidated.. 106 lOJJix 

St. Louis Division 112'., ... 

Union Pacific 117Ji 117?.-,' 117'i 116^ 1167'i 117>, 

1st mortgage 115.'^ 115;?^ 116 

Land Grant 73 113 >j 

Sinking Fund 88. 123 122 

United States Ex... 

Wabash, St. L.& Pac 

Preferred 

New mort. 7s 

Wells-Fargo Ex 133>i 

Western Pacific b'ds 

Western Union Tel. 80 >i 82^ 81 79?i 7!>7i 
78.,S.Fconv.,l'.)00 116>i 

Feder.\l Stocks :— 

U.S. 48, 1907, reg... 118J^ 118'4 

U. S. 4s, 1907. coup. 118 H 118 '4 

U. S. 4ijs, 18!)1, rog 

U.S. 4 'is, 1891, coup 

[T. S. 58, 1881, reg 

U. S. .5s, cont'd at3^i *. 

U. S. Bs cont'd at3'i 

Dt. of Col. 3-(>.5s, r<!g 

Dt.ofCol.3-65s,coup 107.*4 



79 '4 

36 '4 
68 



79 }4 

36 ^i 
68;-, 



78 
36 -i 
G'l'A 



33 'i 
6634 



T7 

35 ^,' 
67 



36 1„ 



80-, 



J 



Boston Stock Exchange. 

[ ^.j Prices for the Week Ending Feb. 1. 

i 1 Th.2;. F.27. 8at.28.M.30.Tu.31. W. 1 

Atch.,Top.*San.Fe. 90 ,'4 90 >i 80)1 87 863^ 87 *i 

1st mortgage 119 Ii8>i 

2d mortgage 

Land Grant 78 ..... .'.'.'.'. 

Boston & Albany 165 166 167(4 

7s reg 

Boston and Lowell 103 '4 



53.«4 53 



98 



S6U 



98 

86 
lOOJ:^ 

iiby. 



100 :i 
85*^ 



85 

100^4 

86 '4 



123 



Boston & Maine. . . . 
Bostoui^ Providence 
Bos'n.Hart.A: Erie7s 
Bnrl.& Mo.R.L.G.78 
Burl.& Mo. R. in Neb 
63, 

43. 



145J^ 115,'i 145 145 145 115 )» 



65 ii 



65^ 02 >i 62?4 64 



expmpt 114?,' 

40 

Chi.,Burl.& Quincy ISiJi 133) 
7s 



114 



26K 



7«, ConsiL^ted | Titchburg I33>i 133>^ l:«>i 



Cin..S.and&Clev($50) 

Concord ($50) 

Connecticut River 

EastMT] 

New4^i Bonds... 108 >i 



137 '4 131 '4 
26)i 26 



134 135 Vx 



25Ji 



109 



35 

no 



34 

109 



109 



108 >i 
134>i 



'tr-..^!^;*;,:-' 



.•w>. 



_.. .1.^- .*. 



^V JtA.; 1^. t. f«-;^'. 



:i^i. 



00% 60 
117 



in;* 11 r 



69 
117 



N..Y& New England 007^ 
7s 117>i 

Northern N. H 

Norwichi^ Worcester 

Ogden .^ Lake Cham 

Preferred 

OldCoIony 124?i 125 124)i 

Ph.,Wil.«:Balt.(f50) 64 04 

Portl'd.Saco .^ Ports 113?^ 

Pueblo & Ark Val 

7s 115 115 116 

Pullman Palace Car 133 141 '4 134 13.5?^ 

Union Pacific 117>i 118 »4 116 >i 117 )i 

6s 

Land Grant 7s 

Sinking Fund 83. ... 

Vermont & Canada 

Vermont & Mass 134 134 

Worcester k Nashua 

Cambridge (Horse) 

Metropolitan(Horse) IG^-i 

Middlesex (Horse) 

Cal.&HeclaMin'gCo 235 231 

Quincy 5.J 52 4J>ii 42 



56 



55y, 



Philadelphia Stock Exchange. 

Closing Prices for the M'eek Ending Jan. 31. 

W.25. Th.26. r'.27.Sat.28.M.30.Tu.3l 

AUegh'y Val. 7 3-108 

7k, Income 65 

Camd'nA: Am.68, '83 

(is, 1889 

Mort. 6s, 1889 

Camden A: Atlantic 

Preferred 

1st mortgage 

2dra>rtga.;e 165 >i 

Catawissa 20 20 20 l.>?4 19?^ 

Preferred 53^ 51 54 ji 54 J^ 55 

7s, new 

Del. i^ Bound Brook 

7s 128 .... 126 

Elmira.VWilliamsp't 

Preferred 



Hunt. A: B. Top Mt 14.1^ 

Preferred 27 >i 26 26 

2d mortgage 

Lehigh Navigation. 42 '4 43 42 Ji 42 ?i 42 >i 42 Ji 

6s. 1884 105 105 105 

Gold Loan . VAX HO'-i 110;$^ 

Railroad Loan 11634 

Conv. Gold Loan 

Consol. Mort. 7s 1165i 

Lehigh Valley 62 C2>i 62)i 62>4 01?^ 66>i 



1st mort. 68, coup 121 14 



134 
{56 



123 



62K 



Ist mort. 6s, reg * 

2d mort. 7s 134 

Consol mort. 6s 118 11834 

Consol. mtg.0s,reg ... . 118>i , 

Little Schuylkill... 56 56 66 

MinebUl&Sch.Hiv'n 61 

North Pennsylvania 62 '.^ 62 62 >J 

1st mortgage O3.. 1O6 

2d mortgage 7s 

Geul. mtg.7s,coup 123 

Genl. mtg. 7s, reg 

Northern Central 48>a' 

5s 96 96 

Northern Pacific... 35 35 >i 35 >i 35 '.4 34ii 34 
Preferred 72 Ji 73 74 7234 7154 703^ 

Pennsylvania R. R. 61 V4 61*4 013ji 613^ 60% 603,' 

Isl mortgage 

i^cn'l mort ^ 

Gen 1 mort reg 

Consol. mort. Os 117 

Consol. mort. reg 

Pa.StateOs 2d series 

do 3d series 100 

do 58, new 116 

do 3s 

Phila. * Reading... 81% 3\% 32^i 3134 30»i 303i 

1st mortgage Os 

7s of 1893 

78, new convert 

Consol. mort. 78 126 

Consol. uiort. reg 

Gen'lmort.Gs 98)i 93*i 98Ji 99 99 fSi, 

Philadelphia & Erie 19 19 16 

Ist mortgage 58 105 ^i 105^ I063i 

2d mortgage 7s 114 



Pittsb.,Cin.«:St.L.78 124 

Pitt8.,Titusv.&Bufr. I93i 



193.f 



7s. 



124 

103.' 
102 



193i I834' 18>» 



12 ?i -123i 



mi 



Schuylkill Navi't'n 

Preferred , 

Cs. 1872 : 107 

Cs, 1882 87 >J 89 89 ... 

United Co. of N.J. . 185 185 18534 1853^ 186 186 

Hestonville, (Horse) 18 18 17 

Che8tnut&Wal.(do) 

(irueji •'(:Coate8(do) 



■VAV.... . . ■ '. ..v^.^^■■''--. . ~fi ,'.- i(i<nnl tint-' - ^— ■ ' ' ^'^'iV.-v/'.^i'-a.l 



^-jt ■^^'^•'■■■jiS^'^^-,, »>^V 



AMERICAN RAILROAD JOURNAL. 



71 



Baltimore Stock Exchange. 

Closing Prices for the Week En-iing Jan. 31. 

W. 25. Th.26.F.27. Sat.28.M.30.Tn.31. 

Baltimore A: Ohio 195 U 

6s. 1880 

68,1885 107V^ 

Central Ohio ($50) «0 

1st mortgage HI 

Marietta & Cincin'ti 

1-22 .22 125J^ 

10 U^ 104 »i 105 Ji 105 ?i 105 J^ 

53 ^i 58?^ 53 69 58 '.i 

105,'^ 105?^ 



114>^ lU lU 



Ist mortgage, 78.. 
2(1 mortgage, 78.. 
3d mortijage, 83.. 

Northern Cen. ($50) 
2d mort., 6s 1885.. 
3(1 mort., 6s, 1900. 

6s, 1">00. gold 

68,1901, gold 112>i 

Orange & Alex. Ist 

2d mortgage, 6s 

3d mortgage, Ss 

4th mortgage, 8s 

0.,Alex.&Mana8'8 7s 

Pitts.fc Connell8v.78 

Virginia 69, Consol. 

Consol. coupons. . 

10-40 bonds 

Defd CertiQcales 
Western Maryland 14 ), 

1st M.,end.by Bait 

2dM.. do 

3dM., do 

IstM-.nnendors'd 

2dM.,end.Wa8hCo 

2d M., preferred 106 ... 

City Passenger R B 41 



431^ 



64 !i 
61 
42 
15 >i 



63 *i 
65 

40?i 



63 

65 >i 



62Ji 
'46" 



62 



40 



London Stock Exchange. 

Closing Prices 

Jan. 13. Jan. 6. 

Baltimore fc Ohio (sterling) 114 116 114 116 

Cairo & Viencennes com. stock ■^C^ 38 3i) 38 

Do. preferred 5 per cent 90 92 90 92 

Central of N. J. $100 share 93 98 93 98 

Do. Cons. Mortgage 115 117 115 117 

Do. Adjustment BondB 104 109 104 109 

Do. Income Bonds 104 107 104 107 

Det.,G'dHaven& Mil. Equip bdsll2 114 112 114 

Do.Con.M.5p.c.,tiir83aft'rGp.cllO 112 110 112 

Illinois Central *100 shares 135>i 136>i 132 133 

Lehigh Valley Cons, mortgage.. 115 119 116 119 

Louisville & Nashville mort 6s. 105 107 105 107 

Do. Sink. Fund bds (S..'feN.Ala)102 104 103 105 

Do. capital stock .«100 shares. 97 99 103 105 

N. Y. Cent. & Hud. R. mt. bds. .134 137 134 137 

Do. ?: 100 shares \M% 131% 132 134 

Do mort. bonds (stg.) 123 125 120 122 

N.Y.,Lake Erie fc West., $100 shs 42 ^i 42?^ 40 40»i 

Do. 6 p. c. pref. $100 shares . . 87 89 84 86 

Do. Ist Con. Mort. bds (Erie) .131 13J 131 133 

Do. do. Funded Coupon bds. 127 129 127 129 

Do. 2d Consol Mort. bonds... 101 103 100 102 

Do. do. Funded Coupon bds.. 97 100 97 100 

Do. Gold Income bonds 98 95 95 100 

N.Y.,Pa.& Ohio Ist mort. bonds. 47 48 45 46 

Do. Prior Lien bds (sterling).. 104 108 104 108 

Pennsylvania, $.50 shares 63 64 62 63 

Do. Con. Sink Fund Mort 116 118 118 122 

Philadelphia & Betding $50 shs 33 1^' .335^ 32 33 >4 

General Consol Mortgage 116 118 116 118 

Do. Improvement Mortgage.. 103 105 103 105 

Do.Gen.Mtg.'74,ex-di'fdcoup. '.19 101 100 101 

Do. Scrip for the 6 def. >^ coup. 92 97 92 97 

Pitt8b.,Ft. W. &Chi. Eq. bd8....105 109 105 109 

St. L. Bridge 1st mort. gold b'd. 126 128 12i5 128 

Do. Ist pref. stock 1 02 104 102 104 

Union Pa. Land Grant Ist. mtg. 115 119 115 119 



AMERICAN RAILROAD JOURNAL. 



Financial and Commercial Review. 



Thursday Evening, Feb. 2, 1882. 

In the morning hours stockholders generally 
paid 5@6 per cent for call loans. Borrowers 
on call on Government securities were accom- 
modated at 2@3 per cent. Time loans on 
stocks were hard to get at G per cent. Mercan- 
tile paper was 5@6 per cent. In the afternoon 
the quotation for call loans was 6 per cent, but 
in the last hour fell to 4@5 per cent, and at 
the close to 3@4 per cent. 

The actual rates for sterling exchange were 
4.89J@| for demand bills, 4.83^@4.84J for 60 
day bills, 490i@4.9lJ for cables, and iM\% 
4.82 for prime commercial bills. The actual 
rates for continental bills are as follows: 
francs, 5.11J@5.12i, and 5.17i@5.18| ; marks, 



94^@94|, and 95|@|, and guUders 40J and 
40J. 

There had been redeemed at the Treasurj- 
Department at Washington to the 31st ult., 
$19,178,900 bonds included in the lOrth and 
$15,112,050 included in the lOGth call, leaving 
$5,709,050. Interest ceased on 24th December 
on the 105th call, and on 30th January on the 
106th call. The next call to mature is for $20,- 
000,000, due 12th March next. 

From the message of the Governor of Rhode 
Island, delivered on the 31st ult., we learn that 
the bonded indebtedness of the State at the 
close of the year was $2,118,500 —a decrease dur- 
ing the year of $129,011. The sinking fund 
amounts to $72M22. 

At the annual meeting of the stockholders 
of the Fitchburg Railroad Company, held in 
Boston on the 31st ult., the annual report of 
the directors was presented and accepted. The 
number of directors was increased from five to 
seven, and the old board unanimously re-elect- 
ed, with the addition of Franklin N. Poor and 
Charles T. Crocker. On motion it was voted 
that the directors be authorized to issue 20- 
year additional bonds to the amount of $500,- 
000, necessary for the funding of the floating 
debt, and also that all issues of bonds by them 
already made be hereby ratified and approved. 
It was also voted that the acts and doings of 
d.he directors in regard to the change of the lo- 
cation of the railroa 1 in Belmont, and in re- 
leasing the company's rights to certain land in 
Belmont with the consent of the Legislature 
of Massachusetts to the Mass. Central R. R. Co. , 
under the agreement made between the two 
railroads December 14, 1880, is hereby ratified 
and approved. This vote refers to the agree- 
ment whereby the Massachusetts Central pro- 
vided a new road-bed for the Fitchburg in Bel- 
mont, leasing the old road-bed for their own 
tracks. 

The annual report of the State Treasurer of 
Maine shows receipts of $1,417,526.83 and ex- 
penditures of $1,435,460.21 ; balance on hand. 
$142,405.26. There was paid on the public 
debt, $83,000 ; and for interest on the same, 
$336,681. 

The gross earnings of the Chicago, Burling- 
ton and Quincy Rxilroad for the month of 
November, 1881, were $1,816,133, the expenses 
$912,980, and the net earnings $903,153; for 
the month of November, 1880, the gross earn- 
ings were $1,835,860, the expenses $858,206, 
and the net earnings $978,653 ; showing a de- 
crease in gross earnings of $21,726, with an in- 
crease in expenses of $54,774, making a de- 
crease in the net earnings of $76,500. From 
January 1, to November 30, 1881, the gross 
earnings were $19,270,964 ; the expenses $9,- 
703,161, and the net earnings $9,567,803 ; for 
the corresponding period of the previous year 
the gross earnings were 818,902,476, the ex- 
penses $8,681,494, and the net earnings 
$10,220,982 ; showing an increase in gross 
earnings of $368,488, with an increase in ex- 
penses of $1,021,667, making a decrease in the 
net earnings of $653,179. 

In the United States House of Representa- 
tives, at "Washington, on the 30th ult., the 
proposition to restore to the Government un- 
earned lands held as grants by certain railroad 
companies was, on motion of Mr. Townsend, 



of Ohio, referred to the Committee on Judiciary 
hy a vote of 161 to 58. 

The report of the Western Maryland Railroad 
Compan}' states that the gross earnings for the 
year ending September 30, 1881, were $461,871 
01, the expenses $375,919.02, and the net earn- 
ings $85,951.99. Compared with the previous 
year there was an increase in gross earnings of 
$64,306.92, with an increase in expenses of $66,- 
633.84 making a decrease in the net earnings 
of $2,326.92. There were moved during the 
ear 498,000 passengers and 201,259 tons of 
freight, being equivalent to the movemeut of 
12,277,592 passengers and 7,278,431 tons of 
freight a distance of one mile, which, compared 
with 1880, shows an increase of 1,571,677 pas- 
sengers and 633,103 tons of freight carried a 
distance of one mile. j 

The annual report of the Commissioner of 
Patents for the j^ear ending December 31, 1881, 
shows that the total receipt of the office during 
the year were $853,665.89, and the expenditures 
$605,173.25. The balance in the Treasurv on 
account of the patent fund Jan. 1, 1882, 
amounted to $1,880,119.32. The receipts, as 
stated above, exceed those of any previous 
year by nearly $100,000, and the excess of re- 
ceipts over expenditures — $248,492.61 — has 
been correspondingly greater. In no former 
year have there been so many applications for 
patents though the number of patents granted 
in 1876 exceeded that of the past year. 

The gross earnings of the Delaware, Lacka- 
wanna and Western Railroad for the year end- 
ing December 31, 1881, were $27,396,525.98 ; 
the expenses $19,632,661.65, and the net earn- 
ings $7,763,864.33 ; from which deduct interest 
and rentals, $3 558,493.74, leaving as net profits 
the sum of $4,205,370.59. The balance due on 
account of bonds paid and retired March 1, 
1881, is $1,200,000; the surplus account, $7,585,- 
297 ; the capital stock. $26,200,000 ; and the 
bonded debt, 4,044.900. The construction 
account stands at $30,873,356; njaterials on 
hand, $1,121,850 ; stocks and bonds, $6,265,520. 
The accounts receivable are $3,804,507, and the 
accounts payable $3,035,037, a difference of 
$769,469, which added to the above, shows that 
the total property and assets now amount to 
$39,030,197. 

The Supreme Court of the United States has 
aflSrmed the decision of a lower court awarding 
to the Pacific Mail Steamship Company $292,- 
000, with interest at five per cent from the 1st 
of March last, in settlement of arrears of pay- 
ment for mail service. I 

The closing quotations on Thursday were : 
Adams Express, 145@,148; American Express, 
92(^93 ; Chicago, Burlington and Quincy, 135J^ 
(J^136; Canada Southern, 53@53i ; Chicago and 
Northwestern. 134^^135; do. pref., 142i®143^; 
Chicago and Alton. 133i(rt),134f ; Central of New 
Jersey, 94i@95; Central Pacific. 89J^(rt^89f ; Chi- 
cago. Milwaukee and St. Paul. 109}@109J ; 
do. pref., 122J@122| ; Cleveland, Columbus, 
Cincinnati and Indianapolis, 80@81 ; Coh:m- 
bus. Chicago and Indiana Central, 19i@19J ; 
Delaware and Hudson Canal, 107@107}; Del- 
aware, Lackawanna and Western. 127J@128 ; 
Hannibal and St. Joseph, 95J^@95^ ; do. pref., 
108@108i; Illinois Central, 1353@136^ ; Lake 
Erie and Western, 32J@33 ; Lake Shore and 
Michigan Southern, 111^0111| ; Metropolitan 



■'• ■'^- <^-*^ V:~ .H..?.. 



"lAwy^.'^'J { |i;^.«|ipwpwj5wr 



vw;i«3H>-'X- 



72 



AMERICAN RAILROAD JOURNAL. 



..." ■ <y" 



Elevated, 85@86 ; Manhattan Elevated, 53@ 
53 J ; do. 1st pref., 97@98 ; Michigan Central, 
86|@86J ; New York Elevated, 107@108 ; New- 
York, Lake Erie and Western, 39|@38| ; do. 
pref., 80@80| ; New York Central and Hudson 
River, 131@131J ; Northern Pacific, 3U@2^; 
do, pref., 71 1(472 ; Ohio and Mississippi, 33} 
©33|; Pacific Mail. U@U\ Texas and Pacific, 
47f@.47| ; Union Pacific, 118}@118| ; United 
States Express, 77@78 ; Western Union Tele- 
graph, 80A@80|; Wabash, St. Louis and Pacific, 
36i@3G|; do. pref., 67i@67| ; Wells-Fargo Ex- 
press, 128@1'29. 

The following quotations of sales of Eailway 
and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 
New York. — Atchison, Colorado and Pacific 
1st, 98 ; Atlantic and Pacific 1st, 97 ; do. inc., 
37 J ; Boston and New York Air Line pref., 63|: 
Cleveland and Toledo S. F., 108 ; Chicago. St. 
Louis and New Orleans, 84 ; Chicago, St. Paul, 
Minneapolis and Omaha, 35 1; do. pref., 100| ; 
do. consol., 99 1 , Chesapeake and Ohio 1st 
pref., 33|; do. 2d pref., 25 ; do. Pur. Money 
Fund, 112; do. 1st, Series A, 102; do. cur. int., 
50}; Central Iowa 35 ; do. 1st, 112^; Cedar Falls 
and Minnesota, 18} ; Chicago, Milwaukee and 
St Paul S. M. div., 1st, 103 ; do. La C. and 
Dav. div. 1st, 95 ; do. S. W. div:, 107 ; Chicago 
and Northwestern S. F. 5s, 100; Cleveland, Co- 
lumbus Cincinnati and Indianap. consol., 123}; 
Columbus, Chicago and Indiana Central Inc., 
71; do. 1st, 125; Chicago. Burlington and Quin- 
cy 8s, 103^; Denver and Rio Grande, 71^; do. 
1st, 113^ ; do. consol., 104}; Des Mo'mes and 
Ft. Dodge, inc., 73 ; East Tennessee, Virginia 
and Georgia, 14 1 ; do. pref., 24; do. 1st, 115: 
do. inc., 56} ; do. 5s, 80; Erie and Pittsburg 
consol.. 105 ; Evansville and Terre Haute 1st, 
96 ; Green Bay, ^ Winona and St. Peter, 14 ; 
Georgia R. R. and Bank, 167 J ; Gulf, Colorado 
and Santa Fe 1st, 107 ; Hannibal and Central 
Mo. 1st, 106 ; Hudson River 2d S. F., 110 ; 
Houston and Texas Central 1st, Western div., 
108; Indianapolis, Decatur and Springfield pref. 
40 ; do. 2d inc., 69 ; Indiana, Bloomington and 
Western, 46; International and Gt. Northern 
1st, 107 ; Illinois and Southern Iowa 1st, 103.]; 
Kansas Pacific 1st con.iol., 103 ; do. Os. Denver 
div. ass.. 108A ; do. 6s, 1896, 110 ; Lafayette, 
Bloomington and Muncie 1st, 102 ; Long Island. 
50J ; Lake Erie and Western, 33; do. 1st, 106.} ; 
Louisville, New Albany and Chicago, 74; do. 
1st, lOU; Louisville and Nashville Gen'l mort., 
101 ; Minneapolis and St. Louis pref., 60 ; do. 
1st, 115 ; do. Iowa Ext. 1st, 111 ; Marietta and 
Cincinnati 1st pref., 12; Missouri, Kansas and 
Texas, 36| ; do. consol. 7.s, 104,} ; do. 2d, 68}: 
do. gen'l mort. 6s, 82} ; Mis.souri Pacific, 102^; 
do. 1st consol. 102} ; do. 3d, 112 ; Memphis 
and Charleston, 74 ; Milwaukee, Lake Shore 
and Western, 46} ; do. 1st, 100|; Manhattan 
Beach, 28 ; Mobile and Ohio, 33} ; do. 1st 
deben., 93 ; do. New mort., 112} ; Metropolitan 
Elevated 2d, 90} ; New York, Ontario and West- 
em, 25}; Norfolk and Western pref., 55 ; do. 
Gen'l mort., 102| ; NashviUe, Chattanooga and 
St. Louis, 85; do. 1st, 115 ; Northern Pacific 
1st, 96 ; New Orleans Pacific 1st, 90 ; Oregon 
Railway and Nav., 130 ; do. 1st, 106; Ohio Cen- 
tral, 23|; do. 1st, 97| ; do. inc., 43; Ohio South- 
n, 19J ; do. 1st, 90 ; do. inc , 43 ; Oregon and 



Transp., 68 ; Ohio and Mississippi Springfield 
div. 1st, 121} ; Peoria, Decatur and Evansville, 
34}; do. Ist,"l02^ ; Pennsylvania Co. 4}s, 98 ; 
Rochester and Pittsburg. 27; Rome, Watertown 
and Ogdensburg. 21} ; do. 1st, 91 ; Richmond 
and Allegany, 30 1^ ; do. 1st, 92; ; Richmond and 
Danville. 222}; do. W. P., 219 ; do. 1st, 105} ; 
St. Louis, Iron Mountain and Southern 1st 
pref. inc., 97 ; do. Cairo, Arkansas and Texas 
1st, 110 ; St. Paul Minneapolis and Manitoba, 
109 ; do. 1st, 109^; St. Louis, Kansas City and 
Northern, Omaha div. 1st, 113; St. Paul and 
Sioux City 1st, 110 ; Southern Pacific of Cal- 
ifornia Ist, 103!^; South Pacific 1st, 104 ; St. 
Louis and San Francisco 2d, Class B. 91|; do. 
C, 91}; South Carolina 1st, 98 ; Toledo Delphos 
and Burlington inc., 24 ; Texas and Pacific. 
47| ;do. incL. G., 70} ; do. Rio Grande div. 
l.st, 85 ; Utah Central, 100 ; Winona and St. 
Peter 2d, 120; Wabash, St. Louis and Pacific 
Gen'l mort. 6s, 86^ ; do. Chicago div. Is,, 85}; 
Alabama, Class A, 82 ; Louisiana consol. 7s, 
68|; Missouri 6s, 1888, 109 ; do. 6s, 1889 and 
1890, 111} ; do. 6s, 1886. 106} ; North Carolina 
6s, S. T., 3d class, 6}; do. 4s, consol. 85 ; Ten- 
nessee 6s, new, 73J ; do, old, 73}; Am. Dist. 
Tel., 31 ; Colorado Coal and Iron, 40} ; do. 6s. 
88; Cam. Coal, 31 1 ; Maryland Coal, 20; Sutro 
Tunnel, f ; Homestake, 19 ; Little Pittsburg, 
Ij^; Ontario. 34 ; Robinson, 2}; Standard, 16|. 
Philadelphia. — American Steamship Co. 6s. 
107 ; Central Transportation, 35} ; Catawissa 
new pref.. 54; Chesapeake and Delaware Canal 
6s, 89 ; Morris Canal pref., 169; Nesqueh.ning 
Valley. 57} ; Pennsylvania Company 4}s, 97 ; 
Philadelphia and Reading scrip, 86J ; do. Inc. 
97; Philadelphia. Germantown and NorHstown. 
106} ; Philadelphia City 6s, new, 1900, 130 ; 
do, 4s, Series E. 103 ; Philadelphia, Wilming- 
ton and Baltimore 4s, 95| ; People's Passenger 
R. W. 5s, 92} ; Suubury, Hazleton and Wilkes- 
barre 2d, 34 ; Steubenville and Indiana 7s, M. 
& N., 103 ; Susquehanna Canal 6s, 75 ; Schuyl- 
kill Nav. 6s, 1895. 65; Western Pennsylvania 6s. 
Pittsburg Branch, 107}. The latest quotations 
are : City Os, — @118 ; do. free of tax, 126(oJ130; 
do. 4s, new. 102@109; Pennsylvania State 6s. 3d 
series, 100@101 ; do. 5s, new loan. 115^(^^116}; 
do. 4s, new, 107@111 ; Philadelphia and Real- 
rig R. R., 31}@31^; do. consol. mort. 7s, reg., 
125}@126} ; do. mort. 6s, 117@121 ; do. gen'l 
mort. 6s, coupon, 98}@98|; do. 7s, 1893, 118@ 
125; do. new, conv., 74@76; United New Jersey 
R. R. and Canal, 1855@186J ; Buffalo, Pitts- 
burg and Western, 18}@18| ; Pittsburg, Titus- 
viUe and Buffalo 7s, 101f@102 ; Camden and 
Amboy mort. 6s, 1889, 113}@114; Pennsylvania 
R. R., 61}@62; do. general mort. reg., 121@— ; 
do. uonsol. mort. 6s, reg., 119}@124; Little 
Schuylkill R. R. 55}@56} ; Morris Canal, 65@. 
75 ; do. pref., 168}@169}; Schuylkill Naviga- 
tion, 53@6 ; do. pref., 12}@13 ; do. 6s, 1882, 
89@90 ; do. 1872, 107@108 ; Elmira and Wil- 
liamsport pref., 58@60 ; do. 6s, 113@ — ; do. 
5s, 95@— ; Lehigh Coal and Navigation, 42^@ 
44; do. 6s, 1884, 105@105}; do. R. R. loan, 116} 
©118 ; ilo. Gold Loin, 110|@111 ; do. consol. 
7s, 116}(a>116| : Northern Pacific, 34|@35 ; do. 
pref.,71^@72 ; North Tennsylvania, 61}@62} ; 
do. 6s, 105©106J ; do. 7s, 121©—; do. General 
mort, 7s, reg., 119}@124 ; Philadelphia and 
Erie, 15|@16J; do. 7s, 114@115; do. 5s, 105J@ 



105}; Minehill. 60J@60} ; Catawissa, 19}@20}; 
do. pref.. 54|©55 ; do. new pref., 53|©54J ; 
do. 7s, 1900. 120@— ; Lehigh VaUey 61}@62 ; 
do. 6s, coupon, 120©122 ; do. reg., 121@122 ; 
do. 2d mort. 7s, 133}@134} ; do. consol. mort. 
119@120}; Fifth and Sixth streets fhorse), 149 
@150 ; Second and Third, 110©115 ; Thir- 
teenth and Fifteenth, 75@80 ; Spruce and 
Pine, 45@50 ; Green and Coates, — @85 ; 
Chestnut and Walnut, 90@95 ; Germantown, 
60@70; Union, 110@115 ; West Philadelphia, 
105@110 ; People's 14@15 ; Continental, 100 
©102. . :\ .' 

Boston. — Atlantic and Pacific Income, 33 ; 
do. 6s, 95; Atchison Income 8s, 102; Atchison, 
Topeka and Santa Fe mort. 5s, 99 ; Boston, 
Clinton, Fitchburg and New Bedford, 45 ; do, 
pref., 129 ; Boston Water Power Co., 6J ; Bos- 
ton Land, 8 ; Burlington and Missouri River 
in Nebraska 6s, non-exempt, 103}; Cincinnati, 
Sandusky and Cleveland 7s, 104 ; Central of 
Iowa, 34 ; Connecticut and Passumpsic Rivers 
R. R., 93 ; Chicago, Burlington and Quincy 
4s, 87}^ ; Chicago and West Michigan, 77 ; do, 
do. 5s, 95; Chicago, Milwaukee and St. Paul 
6s. Dubuque div., 104 ; Connotton Valley, 18 ; 
Df^troit, Lansing and Northern pref., 117; Flint 
and Pere Marquette, 22} ; do. pref., 93; Iowa 
Falls and Sioux City, 84 ; Kansas City, Fort 
Scott and Gulf 7s, 111 J ; Kansas City, St. Jo- 
seph and Council Bluffs 7s, 115f ; Kansas City 
Lawrence and Southern 5s, 105} ; Little Rock 
Fort Smith, 65; do. 7s, 111; Massachusetts Cen- 
tral 6s, 93 ; Marquette, Houghton and Ontona- 
gon, 60 ; Mexican Central blocks, new, 94 ; 
Maine Central, 38 ; New York and New Eng- 
land 6s, 107; Ogdensburg and Lake Champlain 
6s, 98 ; Port -mouth, Great Falls and Conway 
4}s, 87 ; Rutland, 4}; do. pref., 27; do. 6s. 101 ; 
Summit Branch, 13| ; Sonora R. R., 20; do. 7s, 
87; do. block, No. 4, 110 ; do. No. 3, 150 ; To- 
ledo, Delphos and Burlington, 7 ; do. 6s, S. E. 
div., 67} ; do. inc., 16 ; Wisconsin Central, 19; 
Allouez Mining Co.', 3 ; Blue Hill, 50 ; Bruns- 
wick Antimony, 15 ; Catalpa, 55c. ; Dougla.s. 
50c. ; Franklin, 12}^ ; Harshaw, 3^ ; Huron, 3 ; 
Indian Queen, 3 ; Mesnard, 75c. ; National, 2}; 
Napa consol. Quicksilver, 6J ; Osceola, 34 ; 
Pewabic, 13} ; Phoenix, 2} ; Silver Islet, 26} ; 
Sullivan, 2. 



Combustion of Fuel. 



By Prof. S. N. Carvalho. 



J 



What is the Scientific Theory of the Cum- 
BUSTioN OF Coal ? , 



We know that carburetted hydrogen and 
the other compounds of carbon require given 
quantities of atmospheric air to affect their 
combustion. What is carburetted hydrogen? 
On analyzing this gas we find that it consists 
of two volumes of hydrogen and one of carbon 
vapor. . , ... I . ' 

What is carbon ? 

Carbon is only charcoal in a state of purity — 
that is to say, it is unmixed with any foreign 
ingredients. 

In its purity it is a simple compound, and 
the work of the chemist is to unmake or sep- 
arate from common charcoal these foreign in- 
gredients to produce pure carbon. 



*;l,.\^'.-^-'jrl^:i:i?'Jijtii:i t i ' " h •Itii illfi'rtti T^ 



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".fi^i ■r<:-: 



'?A: 



AMERICAN RAILROAD JOURNAL. 



" 



73 



Diamond is pure crystalized carbon. Car- 
bon is found in considerable quantities in all 
organized bodies, but is most abundant in tlie 
vegetable creation, and it is principally ob- 
tained from wood. Is pure carbon black ? No; 
chemists have failed to separate it entirely 
from hydrogen. Sir Humphey Davy says the 
most perfect that has been prepared contains 
five per cent of hydrogen. 

Combustion is a sudden chemical combina- 
tion cf some substances by means of heat with 
oxygen, attended by the evolution of greater 
heat. The most available of all substances for 
fuel is coal. The quantity of carbon in the 

B'^st anthracite coal is 92.34 

Hydrogen 3-00 

Nitrogen 0-58 

Oxygen 2.57 

Ash 1-51 

:■■ % ■ ■• -• •■■ 100.00 

Yon said that carbon was found most abun- 
dant in vegetable substances. Is, then, carbon 
vegetable oxygen ? 

Yes ; without doubt. The rankness of vege- 
tation which must have existed in the carbonif- 
erous era, and the uniformity of climate which 
appears to have prevailed almost from the pole 
to the equator, would seem to imply a higher 
temperature of the earth's crust, and an atmos- 
phere more laden with humidity and carbonic 
acid than exist in our day ; but whatever may 
have been the geological conditions affecting 
the origin of coal, we may regard the deposits 
of that mineral (its present f(5rm) as vast maga- 
zines of power stored up at periods immeasur- 
ably distant for our use. 

The principle of conservation of force and 
the relationship now established between heat 
and motion, enable us to trace back the 
effects which we now derive from coal, to 
equivalent agencies exercised at the period of 
its formation. George Stephenson, unaided by 
theoretical knowledge, rightly said that coal 
was the embodiment of power originally de- 
rived from the sun. r 

The small pared of solar radiation which is 
arrested by the earth, and which constitutes 
less than the 2000-millionth part of the total 
energy sent forth from the sun, must be the 
power which enabled the plants of the carbonif- 
erous period to wrest the carbon they required, 
from the oxygen with which it was combined, 
and eventually to deposit it as the solid mate- 
rial of coal. 

In oar day the reunion of that carbon with 
oxygen restores the energy expended in the 
former process, and thus we are enabled to 
utilize the power originally derived from the 
luminous centre of our planetary system. 

The phase of the earth's existence suitable 
for the extensive formation of coal appears to 
have passed away for ever ; but the quantity of 
that invaluable mineral which has been stored 
up throughout the globe for our benefit is 
sufficient (if used discreetly) to serve the pur- 
poses of the human race for thousands of 
years, and it may be considered practically in- 
exhaustible. ; V^ • : ' . ; 

Does coal or fuel etter into combination at 
once, on the application of heat, and that dur- 
ing such combustion it evolves the gaseous mat- 
ter it contains ? 

No ; This view is neither correct nor scien- 
tific, and evades an important feature on the 



use of coal, namely, the order in which the 
gaseous and solid portions come into use as 
heat-giving media. 

When heat is applied to bituminous coal 
what becomes of it ? What is the effect? 

When fresh coal is thrown on incandescent 
coals in the furnace, instead of increasing the 
temperature, it becomes at once an absorbent of 
the heat, and the source of the volatilization of 
the bituminous parts; in a word, of the genera- 
tion of gas. 

Now, as volatilization is the most cooling 
process of nature, by reason of the quantity of 
heat which is directly converted from the sen- 
sible to the latent state, so long as any of the 
bituminous constituents remain to be evolved 
from any atom or division of the coal ; its 
carbonaceous part remains black, at a compara- 
tively low temperature, and utterly inoperative 
as a heating body ; in other words, carbon has 
to wait its turn for that heat which is essential 
to its own combustion. 

Tc be Continued. 

^ 

The Coal Trade. 

The leading coal carrying companies make 
the following reports of their tonnage for the 
week ending Jan vary 21, and for the year to 
same date, compared with their respective 
amounts carried to the same time last year: 

"Week. 18S2. 1881. 

Reading Railroad 101,450 1.119,168 886,528 

Schuylkill Canal 27,655 

Lehigh VaUey 62,202 8G3.;i07 668,774 

Delaware, Lackawanna and 

Western 62.204 220.657 186,102 

Shamokin 19.691 50,213 51 .972 

Centi-alR. R. of New Jersey.. 71,333 201,032 167.184 

United 11. R. ot New Jersey.. 26.516 89.531 81.309 

Penntsylvauia Coal 11,183 54,078 fO,34G 

Delaware and Hudson Canal.. 49,852 180.961 150.421 
Huntingdon and Broad Top 

Mountain 10.579 33.296 26,117 

Penn. and New York 23.066 215,802 165.399 

Clearfield. Pa 51,259 141.602 98,36f5 

The total tonnage of anthracite coal from all 
the regions for the wtik ending January 21, 
as reported by the several carrying companies, 
amounted to 367.078 tons, against 545,924 tons 
in the corresponding week last year, a decrease 
of 178,846 tons. The total amount of anthra- 
cite mined for the year is 1,334,950 tons, against 
1,211,729 tons for the same period last year, an 
increase of 123,227 tons. The quantity of bi- 
tuminous coal sent to market for the week 
amounted to 100,826 tons, against 64,790 tons 
in corresponding week last year, an increase 
of 36,036 tons. The total amount of bitumin- 
ous mined for the year is 215,948 tons, against 
169,014 tons for the corresponding period last 
year, an increase of 46,934 tons. The total 
tonnage of all kinds of coal for the week is 
467,904 tons, against 610,714 tons in corre- 
sponding week last year, a decrease of 142,810 
tons, and the total tonnage for the coal year is 
1,550,904 tons, against 1,380,743 tons to same 
date last year, an increase ot 170,161 tons. The 
quantity of coal and coke carried over the 
Pennsylvania Railroad for the week ending Jan- 
uary 21 was 218,639 tons, of which 152,890 
tons were coal and 65,149 tons coke. The total 
tonnage for the year thus far has been 622,817 
tons, of which 436,666 tons were coal and 180,- 
151 tons coke. These figures embrace all the 
coal and coke carried over the road east and 
west. We have received no report of the Cum- 
berland coal shipments for the week ending 
January 21. The Heading Kailroad shipment 



for last week, ending January 28, was 92,500 
tons, of which 9,600 tons were sent to and 
10.300 tons shipped from Port Richmond, and 
15,900 tons sent to and 12,300 tons shipped 
from Elizabethporl. Work was suspended for 
three days last week, which accounts for the 
small tonnage over the Reading Railroad. — 
Phil. Ledger, Jan. 30. 



iPire Extinguishers on Railroads. 

The recent horrible scenes connected with 
the wreck on the New York Central and Hud- 
son River Railroad, when the fearful loss of 
life was so excruciatingly augmented by the 
lack of any appliances whatever for extin- 
guishing fire, have led to some good out of all 
their gloom if thej" have directed serious atten- 
tion to tho needs in this direction, as they 
evidently have. It was a sight as shameful as 
it was sad to see an elegant express train at a 
standstill, and its five hundred passengers 
watching two of its drawing-room cars and 
their precious contents burning, while the only 
available me^is for even attempts at putting 
out the flames was found in the light snow on 
the hillside, which was rolled into balls and 
thrown upon the fire. It is a pitiable picture 
indeed, in its weakness jxnd lack of forthought, 
to hold up by the side of railroad advancement 
in other directions. But the picture will have 
its influence. A demand is made that all pos- 
sible appliances for relief in such emergencies 
shall be provided, and that the demand is 
being complied with in some directions is a 
most reassuring fact. Two hundred fire ex- 
tinguishers have recently been purchased for 
the Boston and Albany Railroad, and other 
companies are busily at work arranging for 
the adoption of such appliances to be carried 
on the exterior or interior of passenger coaches, 
as r^y seem most desirable after investigation 
and experiments have assisted in deciding 
what the best equipment is. Extinguishers are 
now in use on a number of roads, among them 
the Illinois Central Railroad. Mr. S. F. Hay- 
ward, general agent of the Fire Extinguisher 
Manufacturing Co., 407 Broadway, informs us 
that some time ago Mr. W. K. Ackerman, presi- 
dent of that road, said : "This company has 
in use four hundred of your small Extinguish- 
ers, and five of the large tanks on wheels, 
which we hold at our principal shops. Wo 
have found themiof incalculable benefit to us, 
and their use hsJs resulted in the saving of an 
immense amount of our property from fire. In 
fact, very shortly after bringing them into gen- 
eral use on the road, we ceased insuring alto- 
gether. We keep up a full supply and have a 
specially appointed officer to superintend them 
and see that they are properly filled for use." 
An account kept at the auditor's office of that 
road, charging current premiums and crediting 
losses from time to time, showed the savings on 
insurance in six years to be over $200,000. 



The census returns give the annual produc- 
tion of iron ore in Lehigh county as 321,322 
tons. This is the largest product of any coun- 
ty in Pennsylvania. Next comes Lebanon with 
286,000 tons. Berks with 253,000 tons, Blair 
v,'ith 155,000 tons and Northampton with 105,- 
000 tons. The iron ore in Lehigh county is 



I .. 



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74 



AMERICAN RAILROAD JOURNAL. 



■ ■ i' ■' y V" -■."• . 



prodnced from about 200 mines, while that in 
Lebanon comes almost entirely from a single 
one —the great ore bank at Cornwall. The en- 
tire production in Pennsylvania in 1880 is given 

as 2.18fi.O tons, and that of the United States 
as 7.970.0U0 tons. The average royalty per 

ton was 42 cents and the average market price 

$2.90. 

^ . 1 

INCORPORATION. 1 



The Canton Street Railroad Company, of 
Canton, Ohio, has been incorporated with a 
capital of $30,000. , , j 

The Palmer Wire Company of Palmer, has 
been chartered with a capital of $50,000 for the 
manufacture of iron, Bessemer, and cast steel 
wire and iron goods of any name, nature or de- 
scription. '■ ^1 

Articles of incorporation have been filed in 
the office of the Secretary of State of Oregon, 
of the Stay ton and Mehama Canal, Logging 
and Transportation Company ; capital, $10,- 
000. The incorporators are S. A. Jones, John 
A. Shaw and Wm. E. Price. Principal office, 
Stayton. . ' ' I 

A CHABTEB was issued at the State depart- 
ment at Harrisburg, Pa., on the 26th ult., to 
the Tionesta and Allegheny Valley River Rail- 
road Company, with a capital of $580,000. The 
new road will extend from South Oil City, 
Venango county, to Sheffield, Warren county. 
a distance of 58 miles. Thomas H. Wilson, of 
Venango, is president. ; 



CONSOLIDATION. 



The lines of the Canadian Pacific Railway 
have been consolidated in such a way that all 
west of Lake Superior to the Pacific coast will 
be known as the Western division, and all the 
the Atlantic line, as the Eastern division. W. 
C. Van Home, late of the Chicago, Milwaukee 
and St. Paul Railway, is general manager of 
the entire trans-continental road, and has two 
superintendents under him to operate the re- 
spective divisions. The subordinate positions 
are all being filled on a permanent basis. The 
official list is principally American and gives 
umbrage to Canadians. 1 

The Virginia Legislature has passed a bill 
authorizing the Peninsular Railroad Company 
to consolidate with or receive a conveyance of 
" the railroad property and rights of the Wor- 
cester and Somerset Railroad Company," and 
thereafter "to hold, own, extend, complete, 
manage and operate said railaoad." Section 2 
authorizes an increase of the capital stock 
$1,500,000. Section 3 empowers the Peninsular 
RaUroad Company to change its name to the 
"New York, Philadelphia and Norfolk Railroad 
Company." William Painter has been elected 
president, and J. L. Bates treasurer of the 
company. I 

The largest steel sailing vessel ever con- 
struced was launched a few days ago at Belfort, 
England. She is named the Garfield, after the 
late president. She is 2,220 tons register, is 
292 feet in length, 24 feet 9 inches depth and 
41 feet breadth. She has been built for the 
White Star Line, and is intended for the Aus- 
tralian and Calif ornian trades. 



Cincinnati Iron Market. 



■ OmcE or E. L. Harper & Co. 

Cincinnati, Jan. 31, 1882. 

We have to report a continued good demand 
fully up to the supply. All lots of standard 
quality offered find ready sale at current rates: 
all grades are in light supply. Forge Irons 
especially so. The mills here are running to 
their fullest capacity and report large inquiries 
for future deliveries, but are not anxious to 
book many such orders at present prices. The 
market closes strong at the quotations given 
below. 

We quote as follows : 

FOUNDBT. 

No. Mos. 

TTangine Rock Charcoal 1 W 50^30 75 4 

Strong Neutral Coke 1 27 00'?a28 00 4 

American Scotch 1 26 50@27 50 4 

6BET FOBGE. 

N«>ntral Coke 2a 50'3)2« .^o 4 

Cold Short 24 00@25 00 4 

CAB WHEEL AND MALLEABLE. 

Hanging Rock CoM Blast 3fi OOfTtUR 00 4 

Warm Blast 30 00<»:^2 oo 4 

T^ke Rnperior 1 and 2 32 00'?i);w 00 4 

Tjikft Superior :^ i'^r, 34 oo-a.lfi 00 4 

Southern Car "Wheel 36 00@40 00 4 



^Northern Central Railway. 



The Northern Central Railway Company fur- 
nishes the following comparative statement of 
its gross e'xrnings and operating expenses for 
the month of December: — 

1881. 1880. 

Gross earninsrs f47fi.R23 26 $4'>4.3in 4« 

Operating expenses 321.633 66 270.404 36 



Net earnings $154,989 60 $223.906 12 

For the twelve months ended December 31, 
the gtoss earnings, operating expenses, and net 



earnings were: — 



1881. 1880. 

Gross earnings $5,443,700 00 $5.0.'>0.387 29 

Operating expenses 3.787.445 91 3.255.268 45 



Net earnings $1,656.254 09 $1,795,118 84 



Philadelphia and Erie Railroad. 

The Philadelphia and Erie Railroad Compa- 
ny nvikes the following exhibit of business for 
the month of December, 1881 : 

OroRft earnings $282,772 41 

Gross expenses 200,940 66 

Net eirninps $81 ,831 7."^ 

Net earnings, 1880 113,408 10 

Decrease $31,576 35 

Net earnings yeir 1881 $1 024.248 Ifi 

Net earnings year 1880 1.369.379 35 

Decrease $346,130 60 



James H. Taylor, of St Catharines, has been 
appointed assistint superintendent of the 
Kingston and Pembroke Railway. 



A NEW iron steamship, 286 feet long, iO\ feet 
beam, 25 feet depth of hold, and 1,900 tons 
burden, was launched at Roach's yard at Ches- 
ter, Pa., on the 28th ult. for the Old Dominion 
line. , 



Loin)ON contains fourteen strictly terminal 
railway stations, from which no fewer than 2,- 
202 trains depart daily, and nearly 1,600 of 
these leave between hours of 10 A. M. and 10 
P. M. The largest number of departures from 
a single terminus is 320, after which come two 
stations with 312 and 295, respectively. These 
figures are exclusive of the immense system 
supplying the city with local transit. 



Lime-Kiln Club Deliberation. 



"Doan' seek to make angels of yourselves," 
quietly began Brother Gardner, as the meeting 
opened. "In de fust place dis am no sort o' 
kentry fur angels, an' in de next place you 
would be mighty lonesome. De man or woman 
who becomes so sweet an' soft an' good dat dey 
expect ebery minit to rise up an' fly, doan' take 
as much comfort as folks who feel d.it it will be 
a clus shave to git inter heaven. A little wick- 
edness pickles a man an' makes him keep all 
de better. When I trade mules wid a man I 
prefer that he should suspect me wid an inten- 
shun to make an eben $25 by de operashun. 
When I deal wid a butcher I like to feel dat he 
will work in fo' ounces of bone fur ebery eight 
ounces of meat if I doan' watch him. I like to 
have de bootmaker tell me dat American cow- 
skin am French calf, an' I am pleased when de 
sto' clerk warrants fo' cent caliker to wash like 
sheet-iron. De man who am not a leetle wicked 
has no chance to feel sorry ; no use for prayer; 
no need of churches. He cannot say to a fel- 
low-man : * I wronged you — I'm sorry — shake. 

" De man who neber sins makes a poor nex* 
doah neighbor. De woman who keeps feelin' 
of her shoulders to see if wings have started 
makes a poor mother an' wuss house-wife. If 
you have neber injured a man an' gone to him 
an' axed his pardon an' made up, you doan' 
know what real happiness am. If your con- 
science has neber driben you to prayej' you 
can't feel de goodness of de Lawd. My advice 
to you am to be a leetle wicked— not 'nuf to 
make men fear or hate you, but just 'nuff to 
keep you convinced dat you must help to sup- 
port churches uu' pay clus attenshun to what 
de preachers say, or you'll be left behin' when 
de purceshun starts." i 



A Big Head of Steam. 



ToPKooDT made up his mind that he was not , 
going to be bo.ssed any longer by his wife, so 
when he went home at noon he called out im- 
periously, " Mrs. Topnoody ! Mrs. Topnoody !" 
Mrs. T. camt out of the kitchen with a drop of 
sweat on the end of her nose, a dish-rng tied 
round her head, and a rolling-pin in her hand. 
•'Well, sir." she said, "whaL'll you have?'- 
Topnoody staggered, but braced up. •' Mrs. 
Topnoody, I want you to understand, mad- 
ame," — and tapped his breast, dramatically — 
"I am the engineer of this establishment." 
"Oh, you are, are you? Well, Topnoody, I 
want 3'ou to understand that I" — and she 
looked dangerous — " I am the boiler that will 
blow up and sling the engineer over into the 
next county. Do you here the steam escaping, 
Topnoody?" Topnoody heard it, and he 
meekly inquired if there was any assistance he 
could render in the house-work. 



We began to make steel rails in America only 
fourteen years ago, turning out 2,000 tons that 
year. They then cost $166 a ton. Three years 
ago they were down to $42 a ton, and are now 
up to $60. We made JJ00,000 tons last year. 
They cannot be made here, it is said, under 
$40 a ton, while the English have made and 
sold them for $20 a ton. In England the ma- 
terials of steel rails are found close together, 
while here they have to be transported a long 
distance. English labor is one-third less than 
here, and English skilled labor one-half less. 



;-.h 



Lm 'i.'2:::\iMi*^^i 



A 



AMERICAN RAiLIlOAD JOtTitNAI. 



THE LAKESTIORE AND MICHIGAN SOUTH- 
ERN RAILWAY COMPANY, 

Treasurer's Officp. Granr OENXRAr. Depot, 
New York, December 23d, 1981. 

The Board of Dir»>ctorn of this companv hnv«« thi? 
day decliired a QUARTERLY DIVFDEND of TWO 
per cent, u^-'-n ifscppititi Mock payable on WEDNES- 
DAY, the first diiy of Fe^ru-r.v next a» thi'oflfice. 

The transfer bo<'k<» will be close I at 3 o'clock P. 
M- on Saturday, the 3'f=t instant, and will be re 
opened on the morning of Saturday, the fourth day of 
February next. 

E. D. WORCESTER, Trennurer. 

TaE THIRTY-NINTH SEMI-ANNUAL CASH 01 Vi- 
deo i1 of the ILLINOIS CENTRAL RAILROAD 
COMPANY, being three an-I a half (3 ^i) per cent on its 
capital stock, will be paid by the undersigned March 1, 
1882, to shareholders as registered at the close of busi- 
ness on the 11th of February, after whi'^h and until the 
4th day of March the transfer-books will be closed. 

L. V. F. RANDOLPH. Treasurer. 



THE PERFECTED 

REM I N G TON 




FOR^LE. 

Ten new Locomotives, Standard Gauge, June 
and July delivery. 

New 3ft. Gauge Locomotives, summer delivery. 

One Second-hand Tank Locomotive 3ft. Grauge, 
rebuilt good as new, January delivery. 

Second-haDd Standard Gauge Locomotive and 
Passenger Cars. 

Thirty new Box Cars Standard Gauge, immedi- 
ate delivery. 

New Flat and Coal Cars, January delivery. 

New Passenger and Combination Coaches 3ft. 
Gauge, early delivery. 

New Car Wheels and Castings. 

[ron and Steel Rails. 

Narrow-Gauge Rolling stock a specialty. 

BARROWS & CO. 

©4 5r ostci-wetsr, 

NE'W YOBK. 



TYPE-WRITER. 

^ "WRITING - MACHINE which combii 
ia«'e with rapidity and accuracy, 
and economy with elegance 
and convenience. 

Adapted to general use. Every xnachi >4 
guaranteed. 

Send for Circulars with names and testimoniala 
recent patrons. 

E. BEMBTON & SONS, 

281 and 283 Broadway, New York. 
38 Madisou Street, Chicago. 
124 South 7th Street, Philadelphia. 
21 Soutli Howard St., Baltimore. 

./jMention this paper.] ' 



Interest allowed on Deposits subject 
to Draft. Securities, &c., bought and 
sold on Commission. 

Investment Securities always on hand. 



ALOJVZO FOLLETT, 



D. N. BEARDSLEY & CO., 

MANUFACTURERS OF 

Superior Oak and Chestnut Lmnlier, 

AND RAILROAD TIES. 

Oa,^ Oax TiaaaToex a, Specialt^r. 

OFFICE : 8 MUBRAY ST., 

NEW YORK. 



Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A L 



::;;::;, home;;;: -^^ 

INSURANCE COMPANY OF NEW YORK, 



OFFICE: NO. 119 BROADWAY. 



Paine, Webber & Co., 

Bankers and Brokers, 

Wo. .13 Dc'voiisliiri' St.. Boston. 

(Membert of the BotUm Stock Exchange.) 

DcTote special attention to the purchase and sale of 
Stocks and Bonds in the Boston market, the careful ro- 
lection of securities for investment, and the negotiation 
of commercial paper. 

Wm. a. Paine. Waixace G. Webbeb. C. H. Paik«, 



FIFTY-SEVENTH SEMI-ATTNTTAL STATEMENT, 
Sliowing Oonaition of tli© Oorxiiaaxiy- oa th© 1st deiy of 



John H. Davis & Co< 

: BANKERS AND BROKERS. 



RTo. IT Wall St., 



'I 
W«Mr Vork. 



CASH CAPITAL..... ...$3,000,000 00 

Reserve for Unpaid Premiums 1,943,733 00 

Reserve for Unpaid Losses 24^,595 36 

Net Surplus 1,806,180 90 

: CASH ASSETS $6,995,609 26 



Summary of Assets 

Held in the United States available foi the PAYMENT 

of LOSSES by FIRE, and for the protection of Policy 

Holders of FIRE INSURANCE. 

Cash in Banks | 130 172 31 

Bonds and Mortj^ages, being first lien on 

TT ^T\ 1****® [worth $3,600,750] 1,555.858 00 

United States Stocks [market value] 4,079 500 00 

Bank and Railroad Stocks and Bonds [mar- 
ket value 664 625 00 

State and Municipal Bonds [market value]. 121,'750 00 
Loans on Stocks, payable on demand [mar- 

ket value of CoUalerals. $341.507.50 229,750 00 

Interest due on Ist January, 1882 85,819 19 

Premiums uncollected and in hands of 

^^fJ?'8/ 80,635 08 

^lEstate 47399 gg 

^°**^ $6,995,609 26 



Interest allowed on temporary and standing deposits, 
••tocks and Bonds bought and sold on Commlsalon only. 
'Either on Margin or for Investment. 



J. H. WASHBURN, Secretary. 
T. B. GREENE, 



VV. H. BIGELOW, 



Ass't See's. 



CHAS. J. MARTIN, President. 

A. F. WILMARTH, Vice-Pres't. 

D. A.HEALD, 2d Vice-Pres'f. 



Brown, Brothers & Co., 

No. 59 Wall Street, New You, 

— BUT AND SELL — 

— ON — 

QREAT BRITAIN, IRELAND, FRANCE, GERMANY, 

BELGIUM, AND HOLLAND. 



Issue Coininercial and Travelers' Credits In Sterling, 

AVAILABLE IN ANY PART OF THE WORLD, AND Ul 
FRANCS IN MARTINIQUE AND GUADALOUPE. 

Make Telegraphic Transfebs of Monet between thi« 
and other countries, through Loud<m and Paris. 

Make Collections of Drafts drawn abroad on all points 
In the United States and Canada, and of drafts drawn la 
the United States on Foreign Coujitries., 



SiSti^A 



■ - I-: 
. if. 



. T.W-. ■,,"^ry>^ ■■ 



! — :«t^'-'r^vs?- 'i*/.T ^"'*rJ#.-'"; 



76 



AMERICAN RAILROAD JOURNAL 



AMERICAN 

REFRIGERATOR 
LINE, 

Now York, Oct., 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 
sential Oils, Mineral Waters, 
Lager Beer, Ales and Porters, 
Oysters, or, jn fact, any class ol 
goods that needs protection 
from heat or cold while in tran- 
sit to the West and Southwest, 
either in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 




X'.^.SSE31VG^:E3 

Of the;Fiii.est Finish, as well as every description of CAR WOBE, furnished at short notice aad at reasonabl* 
■ i Prices by the * ■ ' .- . :■" ^ ■•;.,' I • 

IIARLAW A IIOLLIIVGSVIOKTII CO., Wilming^ton. DcT. 



PARDEE CAR WORKS. 



WATSONTOWN, PA. 





PKOPRIETOKS. 

JylanufcLOturQrs of* 

Mail, Bnggage, Box, Gondola, Flat, Grave), Ore, ('oal. Mine, and Hand Cars; 

Keiley's Patent Turn-Tables, and Centers for Wooden Turn-Tables; 

Car Castings, Railroad Forgings, Rolling-Mill Castings, 
I ' Bridire Bolts and Castings. 1 

i^^We have, in connection with our Car Works, an extensive Foundry and Machine-shop, and ar« preparad 
io do a general Machine Business. .;;.,. 



Chairman, 
A.RIO PABDEE. 



Treasurer aiyl General Manager, 
H. P. SNYDER. 



Secretary, 
N. LEISEB. 



NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY. 

C. W. LEAVITT. Agent. 



BETBIGEHATOR TRANSIT COMT. 



Guaranteed Bills of Lading: 
g^lTen* . ■ '- : H 

Time as qnick and rates ns 
low as by any first class fast 
freight line. 

jC^'Ship from New York via 
N. Y. C. and H. K. .it R., St. 
John^s Park ; from Boston via 
Boston and Albany B. U. 



For rates and information apply to 

FRED'K I. EVANS, 

.:, General Eastern Agent. 



FR^IOSrOIPAij OFFICE : 

92 Wall Street, - New York. 

271 Broadway, New York, i 

282 Washington Street, Boston. 



SEff [ORE, lARE E RIE, AMD W ESTERN RAIlWAf7 

i I ' TO THE TR,A.V-EL,I2Sra- FXJBLiIO. 

r-,-^Sr^°^ *^* Centennial season— six months closing September 10, 1876— the Erie Railway cairied almoi* 
THBBE Million passengers, without a singe accident to life or limb, or the loss of a piece of baggage. 

• T>^*^ '^^ " whole year the official records of the United States Post Office Department show the arrival* of 
^ 10 Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competing lines. 
Facts well worthy the consideration of travelers. 

E. S. BCWEN, Gtnerdl Superintendent. 



JNO. N. ABBOTT, Gen. Cnssenger Agent. 



Railroad 




RIEHX.!: 

STANDARD 



Track Scales. 




A Kin ^1 



AND 

TESTING 

MACHINES 



PHlLtADELPHlA, 
50 Sioulh 41 h St. 

NEW YORK, 
115 Liberty Street. 

PITTS KU UGH, 
Liberty St. cor. 7ih Av. 

ST LOUIS, 
600 Norib 3<l Street 

NKWOULRAnS, 
14^ GrMVler Street 




I THE ROGERS 

LOCOMOTIVE AND MACHINE WORKS, 

Fatersoxi, N". J. 

Having extensive facilities, we are now prepared U 
lumish promptly, of the best and most approved da 
scription. either 

COAL OR IVOOD BURNIN«> 

TL.0001i^OTI"V"B ElSrOINES, 

I j AlTD OTHEB VABTETIES OF 

RAILROilD inACHII>IEB¥. 



i^»— 



J. S. ROGECIS, Pret't. 
R. 8. HUGHES, Sec' 
WBI. 8. HUDSON 



Yea't. \ 
, Sup'L ) 



Pateraon« N. J. 



44 Ezeluui(« Plaect Blew York. 



THE 

GORDON & DUGGAN 

RAILWAY SWITCH. 



The Standard on several and in use on 
twenty-five Bailroads. 

Combines Safety, Durability, Simplicity, 
and Low Cost, with Fixed Rails.! 

The only movable piece weighs 375 lbs. 
and is without a bolt or rivet. -I 

E. CORDON, Treasurer, 

No. 28 Staxb Steeet, Bosion, Mass. 



ATvnrxjTr'/visr patt,"ro\T) tottrnal. 



77 




VALENTINE'S VARNISHES 



ARE ON SALE IN THE FOLLOWING COUNTEIES: 



ENGLAND. 

■r 

FRANCE. 



SWITZERLAND. 



ITALY. 



GERMANY. 



AUSTRIA. 



HOLLAND. 



SCOTLAND. 



SPAIN. 



INDIA. ;.;;-^ ■■;•:':.::: ,;;- 

SOUTH AMERICA. 
MEXICO. 



RUSSIA. 

AUSTRALIA. 



NEW ZK ALAND. 
CUBA. 



VALENTINE & COMPANY, 

COACH AND CAR VARNISHES, 



BAMES VACUUM BRAKE CO. 



J 



p. O. Box «,878. 



RAILWAY TRAIX BRAKES, 

?»ALKS 4IFFI4 E: 15 OOI.I» vr, W. V K«|>i< seiiti <1 by TIIOs. PKOS^iKK & SO». 



The EAMES VACUUM BBAEIE is confidently offered as the most efficient, simple, durable and cheapest Power Brake in the 
market. It can be seen in operation upon_over seventy roads. ; v:; V i . .. 



^sSKti^ir!!^iil-,.li,^it-^-'Mj^ijiL^l^i;:.^.-::i^'i.. '.-'■ t. 



..l.;:v^-: 



w 



->< 



AMEBICAN RAILROAD JOURNAL. 



WATER TDBE STEAM BOMS. 




THE BABCOCK & WILCOX CO., 

30 Oortlancit St, N'e-w TTorlc. 

116 James Street, Glaseo-w. j. 

JOHN STEPHENSON COm 



[Limited.] 




NEW YORK. I 

Superior Elegance, Lightness and Du- 
rability. The result of 50 years' esperi 

ence. I -^ ■ ■ 1 - ■ ' ■ I 

Adnpted to all countries and climates. 
Combining all valuable improvements. 
Shipped to Foreign Piirts with greatest 
care, and at most fuvoruble rates. 

HOUSATONIG RAILROAD 

^ 

THE ONLY LINE RUNNING 

T m^ O TJ O- IS C.A-E?,S 

Between New York, Great Barrington, Stockbridge, Len- 
ox, and Pittslield — the far-famed resort of the j 

Berkshire Hills 

of Western Missichiisetta— the "5«>j7zeria7id of America.*' 

Two through trains daily be^tween New York City and 
ftll points ou the Uousatoaic Railroad, from the Granr 
Central Depot via the New York. New Haven, and Hart 
ford Railroad at 8:05 A. M. and 3:43 P. M. 

Descriptive Guide Book sent free upon application to 
tlxe Oener<a Ticket Agent. 

M. i>. AVfiBIIiIj, Gen'l Ticket Agent. 
L. B. STILLSON, Superintendent. 
Oeneral OJTices, Bridgeport, Ct. January 2, 1882. 




NO OTHER LINE IS SUPERIOR TO THE 

FITGHBURG RAILROAD 

HOOSAC TUNNEL ROUTE 

IVEST 

6.30 A: 



ACCOmMODATION. 



Connecting at Syracuse, N. Y., at 7.15 P.M., with through sleeping cars for Cincinnati, 
Clevel&nd, Toledo, nETMOIT ANJ> CHICAGO, : 




CINCINNATI 

EXPRESS, 



Pullman Sleeping Car attached, running through to Cincinnati without change. (Only Line 
running Pullman Cars from Boston.) This car runs via Erie Eailway and N.Y., P. <Sr 0. R.R., 
making direct connection for Louisville, St. Louis, Kansas City, New Orleans, and all 
points in Texas and New Mexico. 



.1. 




P. ST. LOUIS 

M. EXPRESS. 

THE ONLY LINE which runs a THROUGH SLEEPING-CAR from 

BOSTON TO ST. LOUIS WITHOUT CHANGE! 

1 [ j ABRIVING AT 8.00 A.M, SECOND MOBNJNQ, \ 

Through sleeping car for Bufifalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville 
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo: 
Kansas, Colorado, Texas, and all points in the 

SOUTHWEST. 



P. PACIFIC 




|factarerj,Miner8,Mercbants,Ac.,u'illiindinMooiiE'S 

UsrvEBSAL Assist ANT AND Complete MrciiANic, a work 
containing 1U16 pares, 5 JOEnpr.ivings, 461 Tables, and over 
l,CO),OtOIndustrialFacts,Ca'cul-tions,Pro<- SOS. Secrets, 
Kules, 4c., ofr«reuti:ityin2 OTradcp. A $5 bonkfree by 
mailfor$3.rj0, worfi its weight in r >'d to any Mechanic, 
Farmer or B isinessM'n. A'/entii ^yu1^te.l. Sure sale every- 
TThcre for all time. For 111. ContPr.tJ Pamphlet, terms, 
•nd Car alorue of 500 Practical Cooks, ad(ir«s«IsAXXOXAXi 
Book Ca, 73 Be«kmaa&t.,K«w York. .1 . ^. 



; -.->.v^^.v-i '■-^•^^JiriifTiirini'WiiiM-tii.ittiriiitvi A^k-^^^ 



EXPRESS. 

1 

The only line ruoning a through sleeping car vi-t Buffalo and Detroit without change, 
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex- 
press Trains for Iowa, Nebras^ka, Kansas, Colorado, the Pacific Coast, Wisconsin. Minnesota 
and all {>oints In the 

WEST AND NORTHWEST. 

. I'. I. |- - ' 

THE ABOVE TBAIXS BXTN DAILT, SUNDAYS EXCEPTED, 

This Great Short Linepasses tlirough the most celebrated scenery in the country, iadudlngthe famoof 
HOOSAC Tin^NEL, four and three-quarters miles long, being the longest Tuimel 
I j !f in America, and the third longest iu the world. | 

nnckett, Drawlnv-Room and Sleepingr-C^ar Acconunodations may lie secured In AdTancc 



by Applying to or Addressing 



,1 



250 K] WASHINGTON STREET, BOSTON. 250 

JOHN ADAMS, General Superintendent. f . 0. HEALD, Acting Gen'l Passenger and Ticket Agent. 

la effeet January 9tlif ISSSt and aaldect to chance*. 



■ft. 

r 
f 
I 



Ji hJt^^ iiiftj^l^l 



AMERICAN RAILROAD JOURNAI. 



i 



79 



E. W. Vaiidebbilt. 



E. M. Hopkins. 



VANDERBILT & HOPKINS, 

lUilroail Ties, 

Car and Railroad Lumber, White and Yellow Pine and Oal 

lao Uberty Street, iV. Y. 

^ 

Also North Carolina Pine Boards, Plank, and DimtB 
iions Lumber to order. General Eailroad SuppU«». 



SH[TGG BROTHERS, 

DESIGNEBS AND ENGBAVEES , 

ON 

XVT> 

PHOTO ENGRAVERS, 

No. 18 Cortlandt Street, 

NEW YORK. 

KNOX Al SHAIN, 

Manufacturers of Engineering and Telegraphic Instru- 
ments. No. 716 Chestnut Street, Philadelphia. Two 
Medals awarded by the Frankhn Institute, and one by 
1 be Centennial. 



PATENTS 

We continue to act as Solicitors for Patents, Caveats, 
Trade Marks, Copyrights, etc., for the United States, 
Canada, Cuba, England, France, Germany, etc. We 
have had tliirty-five years' experience. 

Patents obtained through us are noticed In the Sci- 
entific AMERICAN. This large and splendid Illus- 
trated weekly paper, $ 3 .20 a year.shows the I'rogress 
of Science, is very interesting, and has an enormous 
circulation. Address MUNN & CO., Patert Solici- 
tors, Pub's, of Scientific American, 37 Park Eow, 
JiifewYork. Hand book about Patents free. 



A. L^ B K, I O A. N" 

COMBINATION SAW. 

Without Lathe. 



Wm 



Price $6 without Lathe ; with Lathe, $8. 
Addkess the Manufactubebs, 

C. M. CKANDALL & CO., 

MONTBOSE, Susquehanna Co.. PA. 



FAIRBANKS' S^^^n'SA^Es. 

" ADAPTED TO ALT. CLASSES 

OP BUSINESS. 




' Railroad and Waretionse Trucks, 

AND COPYING- PRESSES 

Oldest and Largest 
Scale Works in the World. 

BUY ONLY THE GENUINE. 



Dormant Warehouse Scales. 



Fu^ rR,B,A^TIS:S <Sb CO., 
811 Broad uay, New York. 



FIDELITY AND UASUALTY COMPANY, 

CASH CAPITAL, - - - - $250,000. 

FIDBLiIT^X' B03STDS. 

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and responsibility, 
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required lor the Ikithlul per- 
lormance of the duties of employes in all positions of trust. 

.A.OOIDEN-T FOLIOIES. 

Policies issued against accidents c(, using death, or totally disabling injury, insuring fi-om FrvK HtT>T)HED 
DoLLABs to Ten Thousand in case of deatn, and &om Thhee Dollabs to Fifty weekly indemnity in case of dis 
abling injuries. 

WM. M. BICBJlRDS, Prat. JOHN M. CRANE, .Sec'jr. 

DIRBOTOI^S: 



George T. Hope. 
G. G. Williams. 
J. S. T. Steanahan. 



H. B. Claflin. 
A. S. Barnes. 

H. A. HCELBUT. 



W. G. Low. 
Charles Dewnis. 
S. B. Chittenden. 



Geobge S. Coe. 
Wm. M. Bichabds. 
A. B. Hull. 



STEEL 



■*..■*,:" > ,■ <-^ 



CASTINGS 



FROM 1-4 TO 10,000 lbs. WEIGHT. 

True to pattern, sound and solid, of unequalcd strength, touebness and 

durability. 
Aji invaluable substitute for forpings or cast-irons rcquirinc three-fold 

strencth. 
CROSS-HEADS. ROCKER-ARMS. piston-heads. FTC, fot 

Locomotivc-s 
15,000 Crank Shafts and lO.OCO Gear Wheels of this steel now mnninf 

prove itssnperiorityoverother Steel Castinc. 
CRANK-SHAFTS. CKOSS-HEADS and GEARING, specialties. 
Circulars and Price Lists free. Address 

CHESTER STEEL CASTING CO. 

407 Library St., PB[IJLAI>£I.rHX.V 
IVortLS. CU£ST£R. Pa. 1 



SWIFT'S IRON AND STEEL WORKS, 

26 W. THIRD ST., CINCIN NATI, OHIO. , 

Manufacturers of aii Weighis of Standard and Narrow Gauge Rails by the most approved process. Also Rail Fastenings, 

Steel and Bloom Boilv Plate, and Tank, Sheet and Bar Iron. 



BETHLEHEM IRON C O. 
IRON AND STEEL R AILS. 

GEO. A. BVANS. 

No. 74 Wall Street, - - - New York. 



Sandusky Rail Mill Co. 
Mw Albany Kail Mill Co. 

STEEL RAILS, 

IRON RAILS, 

BLOOMS. 



|C.H.0I 

\ 104 Jo 



ODELL, AGT. 

hu St., N. T. 



FOR SALE IW I OTS TO ^UIT. 

: Prompt Delivery. 

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS, 
AND FOR RE-ROLLING OLD RAILS. 

OLD RAILS AND SCRAP AND CAB WHEaS BOUGHT AND SOLO. 



L^-jj 



i AMERICAN RAILROAD JOURNAL. 




HEAT, 

^ i U 1 AND- 

FROST-PROOFING. 

Orer 3,600,000 lbs. now in actual use ; 614,000 IbH. of which have bfen applied in cars as shown in diagram 
Adopted by the New York Steam Compj^ny, to the exclusion ol everything else, to insulate its undergroum 



Sample and circular free by mail. 



round system of steam distribution. 



UNITED STATES MINERAL WOOL COMPANY, 



ITo. le Oortla^r^cit Street, 



ISTEJ-W- -S'OI^IC. 



IV 



MANUFACTURE WROUGHT I RON PI 

WORKS: ^ - 

S'o^l^f^jrss?""! NATIONAL SPECIAL SEMI-STEEL .^locoMorivt 




AND TUBES. 



OFFICES: 



TIIBPS 1 04 and 1 06 John St., N.Y. 



8 Pemberton Sq., Boston. 
I 59 Lake St., Chicago. 



Wl 



USTAULISHED IX 1836 



lOBDELL CAR WHEEL COMPANY, 

IVIlming^ton, Delaware. 



GEOBGE G. LOBDELL, President. | 

WTT.TJAM W. LOBDELL. Secretary. I 

P. N. BRENNAN. Treaturer. 614 TO 626 WEST 24TH ST., 



EAGLE 
TUBE CO 



CEO. R. WOOD, 

H m BinWlI BISIHESS. 

steel and Iron Rails, 



J. C. BEACH. Treas. 



C. H. ANTES. See'y. 



] 



New York. 



THE 



■1 



ALLEN PAPER CAR WHEEL COMPT. 

GeiiM Office, 940 Bioadwu) , N. Y. 

WoBES AT Pttllmak, III., and Hudsos, New Yokk. 



Boiler 



No. 19 WiUiam St., NEW YORK. 



^■ 



Tubes, 



A]^ I2sDESTRUCIlBLE WHEEL FOR PASSEN- 
GER CARi AND ENGINES. I 



A. Whit\ey & Sons, 

CAR WHEEL WORKS, | ^ 

Callowhill and 16th Streets, i 



Of all regular sizes, of the 
best material, and 
I i¥arranted. 



PHIIiADEIiPHIA, PA. ] 

W« furnish CHILLED WHEELS for Cars. Tmcks, and 
Tenders. CHILLED DRIVING-WHEELS and TIRES foi 
Locomotives. ROLLED and HAMMERED AXLES. 
WHEELS A2JD A'^T-T'-^ FITTED COMPLETE. 



liOComotiTe Water-Grates a 
specialty, and 2o per cent 

below regular prices. 

^ 

Piioes lower tlian other Mannlctiiiers. 



RAILROAD IRON. 

The undersigned, agents for the manufacturers, are 
prepared to contract to doUvsr best quality Araerican 
or Welsh Steel or Iron Kails, and of any required 
weight and pattern. Also Speigel and Ferro Manganese. 

PERKIIVS & CHOATC:, 

33 Nassau Street, fSKl/ff YORK. 



First-Class Engrlish 

lROi\Ai\D Steel Rails 

AT LONDON PRICES, P. 0. B. 

We also purchase all classes of Railroad Secorltiw 
and negotiate loans for Railroad CompaniM. 

Will A. OUE§T & CO , 

M"o8. 41 and 43 Pine Street, New York. 



STEEL 

CAR 

PUSHER 



MADE ENTIRELY OF STEEL 

ONE MAN with it can easily 
move a loaded car. 

Manufactured by E. P. DWIGHT, 

Dealeb in Railroad Sufplixs, 
407 LIBRARY ST.. 

P TTTT.Ar>yT ,PtrT ^ , 



-.:r.^-.. 



NO PAYMENT REQUERED UNTHi 

TUBES ARE TESTED AND 

SATISFACTORY. 

AT. B.— Send for St<»ck List. 

t-OTTOIV-SEEn IfUtLS 

For Packing Journal Boxes of Cars. 
I National Railway Pateit Waste Co. 

240 Broadway, • Ifew York. 



J 



Safety Railroad Switches 

WITH MAIN TRACK UNBROKEN. 

Eailroad Crossings, Froors, and Othar 
Railroad Supplies. j 

- ■ MANUFACTUBED BT THE \ 

WHARTON MMOAD SWITCH CO., 



PHILADELPHLA- 



I 



-0^. . -Jl. ' *". 



•*i3-^ :t: I. T...fV 



Works: 93d and IVasliiiiffton Ave. 
Office t U8 South 3d Street. 



i; . .^i^ ■■ ••-' ■' '- ■ ^ ■•.■t:.^-.-.^:-',i-t.^-,. ^. Jut ,|,Tf- „< 




steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



Skoond Quabto Skbebs.— Vol. XXXVm., No. 6.] 



NEW YORK, FEBRUARY 11, 1882. 



[Wnout No. 2.390-— Vol. LV. 



Combustion of Fuel. 



By Prof. 8. N. Carvalho. 
[Out of "Pro-Bono Publico."] 



What is the Scientific Theoby of the Com- 
bustion OF Coal ? 



[Continued from last week.] 

And we also see if this bituminous part be 
not consumed and turned to account, it would 
have been better if it had not existed in the 
coal, as such heat would in that case have been 
saved and become available for the business of 
the furnace. And to this circumstance may 
. be attributed the alleged comparative greater 
heating properties of coke or anthracite over 
bituminous coal. 

Then coal cannot be ignited or converted 
into flame? 

Coal gas may be converted into flame ; coke 
may be ignited ; but coal can neither be igni- 
ted nor converted into flame. 

Can smoke be consumed or burned? 

Smoke, properly speaking, being once form- 
ed, cannot be ignited or inflamed in the same 
furnace. ,- _ 

Hydrogen and carbon are the constituents of 
the gas evolved from the application of heat to 
bituminous coal. This gas is carbureted hy- 
drogen, and carbureted hydrogen is sometimes 
called olefeant gas. > : , 

The philosophy of combustibility is here 
explained. 

Combustibility is not a quality of the com- 
bustible taken by itself. It is, in the case now 
before us, the union of the combustible with 
oxygen, and which, for this reason is called the 
"supporter," neither of which, when taken 
alone, can be consumed. 

In ordinary language a body is said to burn 
when its elements unite with the oxygen of 
the air, and forms new products. One of them, 
the hydrogen, is termed the burning or com- 
bustible body, and the oxygen is said to be the 
supported. But this language, though conven- 
ient for common use, Dr. Kane says, is incor- 
rect as a scientific expression ; for oxygen may 
be burned in a vessel of hydrogen, as well as 
hydrogen in a vessel of oxj-gen, the one and 
the other being equally active in the process, 
and being related to each other every way 
alike. 

Then, strictly speaking, combustion means 
union? 

Yes ; but then we must remember that coal 
gas, whether generated in a retort for iUumi- 



nating purposes, or in a furnace for heating 
purposes is essentially the same. It is not in- 
flammable, as by itself it can neither produce 
flame nor permit continuance of flame in other 
bodies. A lighted taper introduced into a jar 
of carburetted hydrogen (coal gas) so far from 
inflaming the gas, is itself instantly extin- 
guished. 

The great object in entering so elaborately 
into this subject is because it is of the greatest 
importance that those persons to whom are en- 
trusted the firing of furnaces, as well as to 
those who construct them for boiler purposes, 
should understand the subject thoroughly. 
Effective combustion for practical purposes i? 
more a question regarding air than the gas, 
because when we throw coal on the fire in the 
furnace, we have no control over the quantity 
of the gas, but we can control the atmospheric 
air in all the essentials to perfect combustion. 
The following facts are collated from C. W. 
Williams, and other celebrated writers. 

CHEMicAii Combination 
is the ascertaining the quantity of oxygen with 
which any gas will chemically combine, and 
the quantity of atmospheric air required for 
supplying such quantity of oxygen. Here then 
we are called upon for chemical proofs, which 
we shall exemplify in the simplest manner 
possible. These several quantities, depending 
on the faculty of each in combining with cer- 
tain definite proportions of the other— the 
supported ; these respective proportions be- 
ing called " equivalents," or combining vol- 
umes. Now, this doctrine of " equivalents," 
the all-convincing proof of the truth of Jchem- 
istry, reduces to a mere matter of calculation 
that which would otherwise be a complicated 
tissue of uncertainties. 

Weights and Volume of the Gasy Compound. 
An atom of hydrogen is double the bulk of 
an atom of carbon vapor, yet the latter is six 
times the weight of the former. 

Again, an atom of hydrogen is double the 
bulk of an atom of oxygen ; yet the latter is eight 
times the weight of the former. So of the con- 
stituents of atmospheric air — nitrogen and oxy- 
gen — an atom of the former is double the bulk 
of an atom of the latter ; yet in weight it is 
fourteen to eight. 

We have seen that there are two descriptions 
of hydro-carbon gases, in the combustion of 
which we are concerned, both being generated 
in the furnace, and even at the same time, viz: 
the carbureted and the bi-carbureted hy- 
drogen gases ; the proportion of the latter in 



■ ^ .'•5 



coal gas being estimated at about ten per cent. 
For the sake of simplifying the explanation I 
will confine myself to the first. i 

On analyzing this gas we find that tt consists 
of two volumes of oxygen and one of carbon 
vapor, the gross bulk of these three being con- 
densed into the bulk of a single atom of hydro- 
gen, that is into 2-5ths of their previous bulk- 
Now, let us examine analytically an atom of 
atmospheric air. Atmospheric air is composed 
of two atoms of nitrogen and one atom of oxy- 
gen ; each of the former being double the vol- 
ume of an atom of the latter, while their rel- 
ative weight are as fourteen to eight ; the gross 
volume •! the nitrogen, in air, being thus four 
times that of the oxygen, and in weight as 
twenty-eight to eight. 

In the coal gas we found the constituents 
condensed into two-fifths of their gross bulk. 
This is not the case with air, an atom of which 
is the same, both as to bulk and weight, as the 
sum of its constituents, as here shown. Thus, 
we find the oxygen bears a proportion in vol- 
ume to that of the nitrogen, as one is to five ; 
there being but twenty per cent of oxygen in 
atmospheric air, and eighty per cent nitrogen. 
We now proceed* to the ascertaining of the 
separate quantity of oxygen required by each 
of the constituents (of the gas) so as to effect 
its perfect combustion. With respect to this 
reciprocal situation, the great natural law is, 
that bodies combine in certain fixed propor- 
tions only, both in volume and weight. 

The important bearings of this elementary 
principle, as laid do^vn by Berzelius, cannot b« 
more strikingly iUustrated than in the combi- 
nations of which 
The Elements of Atmosphebic Aib abe Sus- 

CBaTTIBLE. 

We shall devote a short space to explain this, 
although it may not be exactly in connection 
with the combustion of fuel. J 

Oxygen unites chemically with nitrbgen in 
five different proportions, forming five distinct 
bodies, each essentially different from, the oth- 
ers, thus : • [' 
1 atom of nitrogen, weight 14. unites with 1 atom of 

oxygen, weight 8, forming nitrous oxyde 22 gross 

weight. 
1 atom of nitrogen, weight 14, unites wit^ 2 atoms of 

oxygen, weight 16, forming nitric oxyde, 30 gross 

weight. 
1 atom of nitrogen, weight 14, unites with 3 atoms of 

oxygen, weight 24. forming hypo-nitrous acid, 38 

gross weight. 
1 atom of nitrogen, 14 weight, unites with 4 atoms of 

oxygen, weight 32. forming nitrous acid, 46 gross 

weight. 



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AMERICAN RAILROAD JOURNAL. 



■:^^M.±l 



1 atom of nitrogen, 14 weight, unites with 5 atoms of 
oxgyen, weight 49, forming nitric acid, 54 gross 
weight. 

We here find the elements of the air we 
breathe by a mere change in the proportions 
in which they are united, forming so many dis- 
tinct siibstiinces, from the Laughing Gas (or 
what is used as anesthetic) nitrous oxide, up 
to that most destructive agent, nitric acid, com- 
monly called aqua fortis. j 

(TO BE COXTINTJBD.) 



[For the Amebic an Railroad Journal.] 

Warmuig and Ventilating Railroad 
■ Cars. ■ • ! ', ' ■ ' I ■■■ 



Much time and money have been expended 
in testing various processes for warming and 
ventilating railroad cars. Not much, however, 
has been expended in this direction by the rail- 
road companies. They have been shrewd 
enough to let outside parties do that. Many 
of them have been^ and are still, content to put 
in the cai*s the old-fashioned cast-iron stove. 
The more tasty cover it up with a casing of 
handsome sheet-iron, and call it a patent safety 
regulator. Some do not even take the trouble 
to do that, but when you enter their cars the 
first thing you see is one of those red hot 
stoves, ready to spread death and destruction 
even with a slight concussion, to say nothing 
about the upsetting of the cars. One of the 
great lines between^the East and the West is, 
or was a short time since, still using the old 
fashioned wood stove put in by our "Dads," 
when coal was in little use on the cars. The 
parties most interested seem to care the least 
about the matter, while there are but few lines 
of any extent that have not lost enough 
money by fires to pay for good heaters. The 
fact is the heating and ventilating of railroad 
cars seems to be btit little understood. The 
currents of air in and around a train in rapid 
motion seem to be diif erent from those that 
surround us in our homes or when the cars 
are at rest. Who has not gone into cars in the 
depot heated to suffocation, when but a short 
time in motion would make them uncomfor- 
tably cool. When the cars pass through a cur- 
rent of air laden with unpleasant odors how al- 
most instantaneously does it pervade the whole 
car. This shows that if there is proper ingress 
and outlets the atinosijhere is changed almost 
at once— much more rapidly than we can 
change the air in our houses or places of pub- 
lic resort. ■ \ ■[.:• " -"'.■■ I ■ "■ ]-: 

There is another matter that seems to have 
escaped the attention of our railroad com- 
pan-ies, and it is so self-evident that the wonder 
is that it has not been universally adapted. I 
mean the placing of thermometers in ^he cars. 
The temperature and clothing of the passengers 
is as varied as their faces. One wrapped in 
shawls, overcoats and under-wear enough to 
stand the cold of Greenland, calls the attention 
of the brakeman to his stove, it being entirely 
too hot, that he is roasting the passengers alive, 
&c. The brakeman, ready to accommodate 
everyone, as they always are, opens the stove 
doors to allow them to cool off. He has hardly 
done so before your thin nervous individual, 
with hardly heat enough in his body to keep his 
soul in it, rushes up to our bewildered shovel 



and poker man, exclaiming, " Zounds, man, 
are you going to freeze us all !" Now, all this 
"unpleasantness" could be avoided by putting 
a thermometer in the car where everyone could 
see it. The brakeman could then point the pas- 
sengers to his authority for regulating the tem- 
perature of the cars, and they could see for 
themselves whether he was right or not. The 
expenditure of a few cents would remove the 
cause of a great deal of trouble, and the 
experiment has proved that with the proper 
heating apparatus and the right attention the 
air of the car can be as well regulated as that of 
our most comfortable dwellings. These, how- 
ever, are minor points in regard to the comfort 
and safety of railroad traveling. The main 
question is, Can any means be devised by which 
these horrid burnings that fill so many homes 
with woe and mourning almost every winter be 
avoided? If they can, does not the cause of 
humanity, if nothing else, demand that they 

should be adopted. 

Railroad companies are all very particular 
about their locomotives; the strongest and best 
materials alone are used in their constnjetion. 
But when it comes to warming their cars, which 
is really of more importance to the passengers 
as regards their safety and comfoi t than the 
means of locomotion, they are content to use 
the most flimsy stoves, made of thin cast- 
iron plates, and thinner sheet-iron, that fly to 
pieces with very slight concussions, or from the 
overturning of the cars. Since the recent dis- 
aster much has been said and written about 
warming cars. Some propose steam, but cer- 
tainly a little reflection would convince anyone 
that this would not do. The fire used in 
generating the steam would be as dangerous as 
any other, and besides the passengers would be 
exposed to the scalding steam, thus adding 
another horror to those already so frequent. 
Some of your legislators talk about compelling 
railroad companies to carry fire-extinguishers. If 
I understand the nature of the gas used in these 
machines, it is as fatal to life, almost, as fire 
itself. The hot water heaters used in sleeping 
cars have very frequently been found wanting, 
notably in the recent disaster on the Hudson 
River Road. None of the appliances that have 
been used have been found reliable in such a 
great smash up as that just mentioned, and the 
question naturally arises. Can anything be 
found or used that would be available to pre- 
vent such woeful burnings ? In our ordinary 
transactions, where we have great force or power- 
ful concussions to resist we are careful to select 
the best materials we can get, and we put them 
together in the strongest possible manner. 
Why not do this in getting up stoves for our 
railroad cars ? Why not make them of the best 
boiler iron, riveted together in the strongest 
possible manner, so that even the boiler of the 
locomotive itself is not stronger ? This can be 
done and has been done, affording the same 
quantity of heat, at the same or even less cost 
than the stoves in common use. Possibly 
they may require a little more attention from 
the train men or car tenders at the stations, but 
is that to be put up against the burnings and 
sufferings that so often occur ? Are railroads 
to be run with as little possible work as will 
barely enable them to get through for the benefit 



of car cleaners and fire tenders ? Suppose it 
does take some more trouble to attend to this 
kind of a stove or heater ! Do not the advan- 
tages derived from them more than offset the 
extra work ? Another thing about these wrought 
iron heaters: Everyone that has had any ex- 
perience in warming houses knows that the hot 
air from a wrought-iron heater is much more 
healthy and agreeable than that from cast-iron. 
Red hot cast-iron seems to act chemically on 
the atmosphere, depriving it of some of its 
constituents, rendering it unpleasant and un- 
wholesome. Is not the great point under con- 
sideration worthy of some experiments to dem- 
onstrate how far such heaters may be substi- 
tuted for these magazines of destruction now 
found in our very best and most popular cars ? 
Do not railroads owe it to the public to make 
some effort for greater safety than is now 
afforded? J. 0. 

Watsontown, Penn., Feb. 4, 1882. 



How THE French and English Travel — If 
you are traveling at night, with French fellow- 
travelers, the difference between English and 
French people will show considerably. The 
Frenchman will put on a soft silk cap ; he will 
tie a handkerchief round his neck ; he will 
even tie a scarf over his head and under his 
chin in order to be secure from the draughts ; 
he will take off his boots and produce an old 
pair of slippers from his bag ; and he will dis- 
pose himself for sleep, carefully covering him- 
self with rugs. The Frenchwoman will be 
equally prudent. She will put on a long, loose 
jacket, of pretty material and pretty make, you 
may be sure, and under this she can afford 
to loosen the tight dress-bodice that fashion 
requires. She also will produce an elegant 
pair of slippers, matching the jacket, and will 
swathe her head and shoulders in a dainty 
woolen fichu, of the same color as jacket and 
slippers. In the early morning, when day- 
light is breaking over the silent land, and 
bursting in streaks into the carriage, the 
French travelers refresh themselves with an 
informal toilet. The lady pours some eau de 
rose or eau de lavande into a tin cup, and with 
the comer of a small towel, brought on pur- 
pose in the handbag, wipes her face diligently. 
With her brush and comb she arranges her 
hair, and she adjusts her hat or bonnet, packs 
up her long jacket, slippers, etc., and is usually 
taut and trim when, at the next station, it is 
announced that cafe au lait is served at the 
buffet, and that the train will stop for twenty 
minutes. 

We English more often tumble out of the 
railway-carriage in a condition that would lead 
one to think we had passed the night in a 
peasant's cabin. The English travelers disdain 
the precaution to which I have referred : they 
will declare that they cannot sleep in the train, 
therefore it would be useless to make any prep- 
arations. Presently they begin to nod and 
sway about, and finally, being only fallible 
hiiman beings, fall asleep, their hats being 
flattened against the back of the carriage, their 
clothes creased and tumbled, and their feet 
aching because of the unwonted confinement 
in stiff walking-boots. Thus they sleep in the 
utmost discomfort. When the morning comes, 
then they are pitiable to look upon ; and seen 
in the early sunlight, it will be hard to believe 
that the Frenchman is not more learned in the 
art of traveling than the Englishman. — FVom 
Tinsley's Magazine. 



•iHtit^iii^Ld-^ 



AMERICAN »RAILRO AD JOURNAL. 



i 



83 



PUBLISHED WEEKLY BY THE 

AMERICAN RAILROAD JOURNAL CO., 
284 Pearl St., cor. Seekman, New York. 



Subscription, per annnm, in advance $6 00 

Foreign Subscription, including postage 6 00 



Subscribers are requested to report to our office any 
irregularity in receiving the Jouknal. 

Contributed articles relating to Railroad matters gen- 
erally, Mining interests. Banking and Financial items. 
Agricultural development, and Manufacturing news, by 
those who are familiar with these subjects, are especial- 
ly desired. 

Payments for advertising and subscriptions should be 
made by check payable to order of the Treasurer. 



Mr. Fbedsbio Aloab, Nos. 11 and 12 Clements Lane, 
Lombard Street, London, E. C, England, is the author- 
ized European Agent for the JoxTBNAii. 



At the annual meeting of the Amxbican Ratlboad 
JoxfBNAi, Co., held at the office of the Company, No. 284 
Pearl street. New York, February 8, the following offi- 
cers were elected: 

GEO. F. SWAIN. President. 

S. PROCTOR THAYER, rice-Prerident. 

EDW. A. WRlQWr, Treasurer, 

CHAS. T. VALENTINE, Secretary. 



■^^ 



New York, SaturdayT^ebruary 11, 1882. 



Entered at Oie Post Office at New York City as Second-Class 
Mail Matter. 



The offices of the American Raxleoad Joue- 
NAL were removed last week from 23 Liberty 
street to 284 Pearl street, in the Market National 
Bank Building, corner of Pearl and Beekman 
streets. The Jouenal has experienced in its 
career of over fifty years but few changes in its 
management or places of abode, having been 
located for about thirty years at its old quarters 
near Printing House Square. The erection of 
new buildings in Park Row necessitated a re- 
moval to temporary quarters last year. The 
changes of the past year and the rapidly in- 
creasing business with whict the Jouknal is 
being favored, and for which it takes this op- 
portunity for thanking its new and old time 
patrons, have led to our securing, permanently, 
more desirable offices in a better location, and 
enlarged facilities for perfecting further im- 
provements of the Jouenal. 



-^ 



SAVINGS BAITKS. 



"pVERY once in a while we are asked 
^ the question, " What is the best in- 
vestment for a poor man?" We have 
never hesitated to reply, " The savings 
bank that pays only four per cent inter- 
est." Maiy to whom we have given this 
reply have looked at us incredulously, and 
expressed a doubt as to their safety. 
Others have sneered at the smallness of 
the rate of interest, and claimed that they 
could let their money to better advantage 
and feel fully as safe as they would if 
their money was in the savings bank. It 
18 very easy to see the process of reason- 



ing by which many come to this conclu 
sion. The savings banks must loan mon- 
ey at a higher rate than they allow de- 
positors, or must fail in time. These 
banks have loaned money at a higher 
rate than they have paid, and have failed; 
hence the depositor reasons that he had 
better take the higher rate and run the 
risk of his borrower failing than to loan at 
the lower rate and run the risk of the 
bank failing. This state of feeling is the 
natural result of so many savings banks 
failing a few years ago, whereby many 
poor men lost the bulk of their hard- 
earned savings. Many of these men had 
worked years for small wages, out of 
which, by dint of the closest economy and 
self-denial, they had managed to lay aside 
a little every year, looking forward to 
their old age as being provided for by 
these savings. The banks failed, and the 
economy and self denial of these poor 
men were wasted. 

There is no use in disputing the fact 
that the savings banks for many yeare 
prior to these failures were guilty of many 
mistakes, to say the least. Looking at 
results, we might say they were criminal. 
When we take a result to be condemned, 
it does not make much difference whether 
the author was a knave or a fool, for the 
character of the author does not alter the 
result. A man takes potash by mistake, 
and another takes potash intentionally. 
Because one takes it ignorantly, as a fool, 
and the other intentionally, as a knave, 
potash does not change its character but 
performs its same deadly mission in both 
cases. Just so in regard to the manage- 
ment of savings banks. Some were man 
aged by fools and some by knaves. The 
result was the same in both cases — failure 
of the banks, and loss and suffering to the 
depositors. The banks which did not 
lose sight of the purpose for which they 
were created, while they were assailed as 
old fogyish and conservative, did not fail, 
and are in existence to-day, sound and re- 
spected. 

Now that years have elapsed since 
these failures, and the wounds caused by 
them have in a measure healed, it is well 
to look at the causes producing them. In 
writing of these causes we leave out en- 
tirely the banks that were intentionally 
dishonest, and deal with those whose in- 
tentions are good. 

The first cause we write of refers to 
those banks having for managers men who 
were engaged in real estate speculations. 



These men had bought a large tract of 
land, and were engaged in building houses 
which they sold for one-fourth cash and 
three - fourths mortgage. These mort- 
gages they had no diflBculty in placing ia 
the sa^^ings banks of which they were 
managers. The building of houses had 
increased the value of their land from ten 
cents a foot to fifty cents. The cost of 
the houses was additional. A savings 
bank managed by such men did not have 
to wait many years before it held two 
hundred thousand dollars worth of mort- 
gages on property valued at two hundred 
and fifty or three hundred thousand dol- 
lars, the original cost of which land 
was only twenty thousand dollars. A 
revulsion in business prosperity takes 
place; there ceases to be a demand 
lor real estate ; parties holding are anx- 
ious to sell, as the money is needed in 
business ; real estate depreciates fifty to 
seventy-five per cent, and the mortgages 
are now worth less than half their face 
value. The bank loses one hundred 
thousand dollars or more of its depositors' 
money, and fails. i! 

Another cause ©f failure is in the start- 
ing of a bank for the purpose of giving 
some man a position, or, as it is termed in 
street parlance, making a " snug berth " 
for some relative or friend too high toned 
to start at the foot of the ladder and work 
his way up. In such an institution the 
trustees are apt to be only figure-heads, 
as they have no interest in the matter, 
their interest ceasing as soon as they had 
made a snug berth for their baby. A 
man thus placed generally has an idea 
that he must astonish his friends by some 
clever stroke of business and thus gain 
the name of financier, as well as add to 
the surplus of the bank. His operations 
are in wildcat securities because they 
promise best, and the result is he does as- 
tonish his friends, but he does not add to 
the surplus of the bank. On the contrary, 
he and the trustees come down town some 
fine day to find a long row of depositors 
waiting to draw their money out They 
realize that there is a run on their bank. 

Another cause of failure is found in the 
mean advantage some rich men take in 
using the savings bank as an investment. 
In some of the States the depositors in 
savings banks are exempt from taxation on 
their deposits. In consequence some very 
close calculators have figured that the 
rate of interest paid by savings banks 
nets them more income than other invest- 
ments equally safe, after deducting taxes. 



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AMERICAN RAILROAD JOURNAL. 



So they open accounts in their name per- 
sonally, as trustee for A, B, etc., until 
they have as many accounts open as they 
are worth thousands of dollars, if the limit 
in the bank happens to be a thousand dol- 
lars to each account. This system gives 
a popular bank, at times, more money 
than it can use advantageously, and it 
finds itself paying twice as high a rate of 
interest as it receives. The end of such a 
condition is easily told. The last cause, 
with which this article will deal, is what 
is known in business as " undue competi- 
tion." All savings banks that have failed 
can probably trace their downfall to this 
cause, or to this cause with some one of 
the others. It is first noticed in a bank 
advertising to pay interest monthly in- 
stead of semi-annually. Then some other 
bank steps in and agrees to pay one half 
of one per cent more. The evi! spreads 
until the startling announcement is made 
that such and such a bank will pay seven 
per cent. People flock to this bank with 
their deposits. Wise men shake their 
heads and advise their friends to keep 
away. The president recognizes that he 
has a herculean job, and becomes a 
sharper. Some one desires a loan There 
is such a thing as legal interest. Legal 
interest will not pay seven per cent, and 
the expenses of running a bank. The one 
desiring the loan is requested to see the 
president. There is a long conversation, 
the end of which is the borrower pays 
the bank the legal interest and the presi- 
dent a bonus of two per cent more. All 
money loaned this way makes an enemy 
. of every borrower so accommodated. 
Every borrower so accommodated is to 
a great degree a worthless customer, and 
his security far from gilt-edged. A light 
money market, and a run is made on the 
bank, and the bank is obliged to close its 

doors. ■ . .1 / ■ 'V ■■- ■ I ■ 

Now what is the remedy to be applied 

to make all savings banks safe ? There 
is but one' remedy, and that is a return to 
the original design ol the institution. 
The State recognizes as a fact that every 
man with a dollar saVed has a personal 
interest in maintaining law and order, 
and the protection of property. The 
breakers of law, the disturbers of order 
the destroyers of property, are men who 
have nothing to lose, and hope by so 
doing to make a gain out of their law- 
lessness. To make it an object for all 
men to save something, some States 
passed a law exempting savings bank 
deposits from taxation, at ttie same time > 



I 



designating by legislation certa'n classes 
of investments as proper for these banks 
to invest their funds in. The design was 
to give these banks the means of earning 
with their deposits a rate of interest small 
enough to command the best securities j 
and yet large enough to enable them, 
after deducting necessary expenses, to 
pay the depositor a fair rate of interest. 
This rate of interest would necessarily be 
less than the bank received, and therefore 
not as large as the depositor would re- 
ceive had he capital enough of his own to 
make an investment. In this fact we 
gather the whole intention and scope of 
a savings bank. It was not designed as 
a pool managed by real estate speculators 
to cash mortgages they received from 
their costumers ; it was not designed as a 
snug berth for some high toned man ; it 
was not designed as a loop-hole through 
which some rich men could escape paying 
taxes ; it was not designed as a busi- 
ness in which competition was expected 
or justifiable. On the contrary, the de- 
sign was that such institutions were to 
be managed with such strict prudence 
and economy that none but gentlemen of 
philanthropic tendencies could afibrd to 
be oflBcers and managers. Not being 
framed nor designed as places of business, 
in the strict sense of the word, it follows 
as naturally as day follows night that 
they were instituted for the benefit of the 
workingman. This being the case it was 
the duty of such an institution, while it 
paid a rate of interest large enough to 
encourage savings, to use its influence, 
when any depositor's savings became 
large enough, to urge him to draw out 
and make an investment. This is a duty 
the bank owed to the State in making the 
man a tax- payer, and also a duty to the 
man in helping him to earn a larger rate 

ol interest, and at the same time enjoy the 

feeling ol being a tax-paying citizen. In 

this season of prosperity when statistics an- 
nounce a return of confidence in savings banks, 
and poor men are using them for their savings 
once more, we have deemed it our duty to 
point out the causes of failures in years past, 
and to prescribe the remedy which will prevent 
failures in future. This remedy is simply a 
return to the plan originally designed when 
savings banks were instituted. 

In conclusion we do not hesitate to raise the 
warning cry to every man, woman and child, 
to avoid as they would the small-pox, that 
bank which offers more than four per cent 
per annum, and to draw out of the bank their 



money just as soon as they have saved enough 
to buy a single share of stock which is ap- 
proved by savings bank law. By observing 
these two precautions the poor man will have 

taken the surest means of protecting his own. 

^— 

CONSTRUCTION. ' 

Track laying began on the Texas and St. 
Louis railroad east from Texarkana on the 3d 
inst. 

The new Madison and Milwaukee branch of 
the Chicago and Northwestern Railway was 
formally opened on the 1st inst. 1 

Work is to be commenced at once on the 
Greenwood, Laurens and Spartanburg Railroad 
at Greenwood, S. C. A force of convicts has 
been hired from the State and teams and tools 
secured. 

A DESPATCH from Guaymas, dated January 
29, says that the track of the Sonora Railroad 
is laid for forty miles beyond Hermosillo. The 
want of ties will delay the further prosecution 
of the work at present. 

A LETTER from Mineral Point, Ohio, says that 
Duffin & "White, who had six miles of very 
heavy work of the extension of the Cleveland 
and Valley railroad, have their work nearly 
completed. They have one solid rock cut 57 
feet deep and 1,500 feet long. 1 

The new oil fields along the line of the 
Philadelphia and Erie railroad have necessita- 
ted the construction of a branch line some six 
miles in length, to the locality of the Blue Jay 
wells. This extension has already been graded, 
and the roadbed is now nearly finished. 

It is proposed to build a railroad from Salis 
bury, N. C, northward into the Yadkin Valley 
and following that river to East Bend, and 
thence by Danbury to the Vii^inia line and to 
a connection with the Danville and New River 
road. The project is based upon the assump- 
tion -that the Virginia Midland has finally 
abandoned its North Carolina extension. 

The Lehigh Valley Railway Company are 
now making surveys for an extension of their 
road from Elmira to Buffalo, N. Y., which, if 
constructed, will make the third or fourth new 
trunk line across New York State to compete 
with the New York Central, the New York, 
Lake Erie and Western, and the Erie Canal for 
Western traffic. \ " 

The tunnel under the Welland Canal, through 
which the trains of the Great Western Railway 
pass, has been exempted from the operation of 
the fifth sub-section of the Act-44 V. chap. 24, 
relating to the height of clear and open head- 
way to be maintained between the undermost 
parts of bridges, tunnels, etc., and the tops of 
the highest ears of a railway. 1 

The Midland Railway Company of Canada, 
have contracted for 8,000 tons of steel rails, to 
be delivered during the months of May and 
June next. These rails will complete the old 
Midland with steel throughout, and also pro- 
vide sufficient to lay the Toronto and Ottawa 
division cf the Midland over its entire length. 
It is hoped to have the Toronto and Ottawa 
running by December next. . | : 

Thb report of the West Virginia Central and 



'- Wa*,-.- 



aS'^ltflft- iftf^lTiaiTli" Vf" 



AMERICAN RAILROAD JOURNAL. 



85 



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Pittsburgh Eailway Company shows that on 
the Ist of January last 12 miles of the road, 
extending to Elk Garden Mines, in Mineral 
county, has been completed, and that steel 
rails for 40 more miles of track have been con- 
tracted for at $58 per ton. Twenty miles of 
additional grading is well advanced. The re- 
maining 16 miles to reach the summit between 
the waters of the Potomac and!- Cheat rivers 
will be under contract in the Tspring. The 
company commenced shipping coal to Balti- 
more last October, and now 300 tons a day are 
mined and shipped. 

At a meeting of the Mexican National Con- 
struction Company held in this city on the 2d 
inst., it was decided to increase the capital 
stock to $3,000,000, the reason being that the 
mileage is greater than was contemplated at 
the time of the previous subscription. It is 
said that all the added stock has been sub- 
scribed for. It was announced at the meeting 
that 302 miles of the 729 had been completed, 
that 550 had been graded, and that ties for 582 
miles and rails and rolling stock for the entire 
distance had been provided. The road is com- 
pleted as follows : El Salto Division, 50 miles ; 
Zoluca, 21 ; Monterey, 35 ; Zacatecas, 12 ; 
Matamoras, 4J ; Tlaxcala, 2i ; total miles in 
Mexico, 125 ; completed line in Texas from 
Corpus Christi to Laredo, 167 miles ; total miles 
now finished, 302. 

The Kinzua creek flows at the bottom of a 
ravine between Bradford and Alton, Pa., over 
300 feet deep and 2,250 feet wide. This chasm 
has for years prevented a railroad connection 
between that region and Pittsburgh. The New 
York, Lake Erie and Western Bailroad Com- 
pany is now spanning the ravine with a bridge 
to make the long-desired connection by extend- 
ing its Bradford branch to Johnstown, Pa. 
The bridge will be the highest railroad bridge 
in the world — 305 feet. This is 60 feet higher 
than Niagara Suspension bridge, 170 feet higher 
than the great bridge across the Ohio at Cin- 
cinnati, 180 feet above the High Bridge, New 
York ; 170 feet higher than the East River 
bridge, and 45 feet higher than Portage railroad 
bridge over the Genesee River. The Kinzua 
structure will consume 40,000,000 pounds of 
iron. It will require 30,00(1 yards of masonry. 
The cost will be over $500,000. The Bradford 
branch will connect with the low grade divi- 
sion of the Allegheny Valley Railroad and will 
make a short through route between New York 
and Pittsburg. 

^ 

In good hands : — He was a country young 
fellow, a little awkward and bashful, but of 
sterling worth of character. She was a Cincin- 
nati belle and had sense enough to appreciate 
his worth, despite his awkwardness and bash- 
fulness, and was his fiancee. On a gloomy 
Sunday evening this winter they were standing 
in front of the window in the parlor of her 
home on East Walnut Hills, watching the 
snowflakes rapidly falling outside. He was 
not up in society small talk, and being hard 
up for something to say remarked, as he 
watched the snow falling, " This 'will be hard 
on the old man's calves and sheep." "Never 
mind, dear," said she, slipping her arm around 
him; "I will take care of one of them."— Oincin- 
yuiii Commercial. 



Varieties of SteeL 



The Siemens-Martin, Bessemer, and Thomas 
systems of making steel, in revolutionizing the 
manufacture of this metaljhave given us, says 
>7ron, three new descriptions of steel ; but they 
have not entirely displaced the older processes, 
by which large quantities are still produced. A 
brief reference, therefore, to some of the most 
common names, the products of the older mode 
of manufacture, and still in use at present, will 
be of service. Blister steel is made by causing 
the carbon of charcoal to penetrate iron in a 
heated state. German steel is blister steel 
rolled down into bars. Sheet steel is made by 
hammering blister steel. Double sheet steel is 
made by cutting up blister steel and putting it 
together and hammering again. Crucible steel 
is made by melting in a pot blister steel and 
wrought iron, or unwrought iron, and charcoal 
and scrap. Of the newer classes of steel, Bes- 
semer steel is made by blowing air through 
cast-iron, burning out the silicon and carbon. 
Siemens-Martin or open-hearth steel is made 
by melting pig iron and mixing wrought iron 
or scrap steel or iron ore to reduce the silicon 
and carbon. Thomas steel is steel produced 
like Bessemer steel, in converters, the main 
difference being the basic lining. 



Boiler Explosions. 



At this time, when so many terrible disasters 
are happening in the most unexpected direc- 
tions, it is not reassuring to minds sadly 
shocked by the appalling results of these 
calamities to consider the dangers to which we 
are constantly exposed through liability to 
boiler explosions ; but it is certainly essential 
that it should be considered and realized, and 
measures taken to diminish the liability to the 
lowest possible degree. Out of 331,218 boilers 
inspected by a noted boiler insurance company 
in this country, up to January 1, 1881, 36,627 
were found to have dangerous defects show- 
ing the startling fact that about one boiler 
in nine in common use was in a dangerous con- 
dition. The list of casualties from boiler 
explosions every year is long enough and fear- 
ful enough in its fatality and destructiveness 
to property, but when the number of defective 
boilers is proven to be so large, it becomes 
a wonder that the list of casualties is not even 
larger. It is to be hoped that the proportion 
of defective to safe boilers has been consider- 
ably changed since the investigations referred 
to above were made, through the more extended 
adoption of improved boilers, and the advance- 
ment of skill in boiler construction and man- 
agement. But, however this may be, there are 
few subjects worthy of more careful study and 
investigation than this in regard to securing the 
utmost safety possible, in the important work 
of providing steam power for its myriad of 
uses. 

The word " mystery " is most frequently the 
only one used in attempts at explaining the 
causes of boiler explosion. But stripped of- all 
technical verbiage and attempts at smoothing 
over by mystifying, the cause of boiler ex- 
plosions generally can be explained as being 
simply a want of strength sufficient to with- 
stand the pressure, which may be due to either 
of three causes ; original faulty construction, 



or a weakening by strains through unequal ex- 
pansion caused by unequal heating of different 
portions of the boiler, or corrosion from long 
use or improper setting. In an excellent work 
on the generation and use of steam recently 
issued by The Babcock and Wilcox Co., 30 
Cortlandt street, a large amount of useful in- 
formation on the construction and operation of 
boilers, is given together with mention of some 
of the chief causes of boiler explosions and 
means for avoiding them. Concerning unequal 
expansion it says : "There is good reason for 
believing that most of the mysterious explo- 
sions of boilers which stand the inspectors' 
test, and then explode at a much less pressure, 
are due to the weakening effects of unequal 
expansions ; for a boiler that will stand a hun- 
dred pounds test this week, cannot explode the 
next week at fifty pounds pressure, unless it 
has suddenly become wonderfully reduced in 
strength, and no corrosion or other natural 
cause with which we are acquainted, save 
expansion, can produce this result. When we 
consider that strains from difference of expan- 
sion are generally greatest when firing up, and 
when there is no pressure in the boiler, we 
can see that the time maj' arrive when a crack 
is started or the parts weakened, so as to give 
way under a moderate pressure just after the 
test has been made ; and the reason why so 
many boilers explode in getting up steam, or 
soon after, or in pumping in cold water, or, even 
as in a recent case in England, while cooling 
off." 

The three elements of safety conspicuously 
needed are plainly, ample strength, freedom 
from unequal expansion, and such arraingement 
of parts that if a rupture does occur it need not 
necessarily result in a serious disaster. To 
meet these requirements and at the saane time 
to provide the essential characteristics', of 
economy, accessibility and durability. The 
Babcock and Wilcox Company have produced 
their water-tube boiler, the leading features of 
which are described as follows : "Being com- 
posed of wrought iron tubes, and a drum of 
comparatively small diameter, it has a great 
excess of strength over any pressure which it 
is desirable to use. As the rapid circulation of 
the water insures equal temperature in all parts, 
the strains due to unequal expansion cannot 
occur to deteriorate its strength. The con- 
struction of the boiler, moreover is such that, 
should unequal expansion occur under extra- 
ordinary circumstances, no objectionable strain 
can be caused thereby, ample elasticity being 
provided for that purpose in the method of 
construction. In this boiler, so powerful is 
the circulation that as long as there is sufficient 

water to about half fill the tubes, a rapid cur- 
rent flows through the whole boiler ; but if the 
tubes should finally get almost empty, the ciY- 
culation then ceases and the boiler might bum 
and give out ; by that time, however, it is so 
nearly empty as to be incapable of harm if 
ruptured." 



The invalid of the Boston Post draws the 
following beautiful definition of justice from a 
simple incident of domestic life: **We don't 
want Guiteau hung. The sentence is too light. 
Let him have the neuralgia, as we had it j'es- 
terday, the balance of his life, and justice will 
be satisfied." 



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86 



AMERICAN RAILROAD JOURNAL^ 



New York Stock Exchange. 

(Thursday's quotations follow money article. 

(Jlssing Prices for the week ending Feh. 8. 

Th.2. F. 3. Sat. 4. M. 6. Tu.7. 

▲dama Express 147 

Albany and Susq 

Ist mortgage 

mortgago 



W. 8. 



2d 



92 9Q 92»^ ^^% 93 



85 >^ 
100 

63 >^ 

94 >^ 

94 Ji 



100 

54 

95 

96*i 



84 

52^ 
95 



95?i 
U5>i lis" 



108 
89 >^ 



99?i 100 

53 

94J^ 95 

95 >i 96 



89^ 



108 

91 >i 
113?i 



American Express. . 

Atlantic k Pac. Tel. 

Burl., C. R. ft Nor.. 
Ist^ortgage 58.. 

Canada Southern . . 
1st mortgage guar 

Central of N. Jersey 

Ist mort. 1890 

7s, consol. ass... 115 
7s, convertible ass. . . . 

7s, Income 103^ 

Adjustment 108'* 108 ^^i 

Central Pacific 89 'i 89 )i 

68, gold 114 

Ist M. (SanJoaq) 

Ist M. (Gal. ft Or.) 

Land grant 6s 

Chesapeake ft Ohio. 233^ 23?^ 
Ist, series B 81 

Chicago and Alton . 

Preferred 

1st mortgage 

Sinking Fund 

Chi,, Bur. ft Quincy 135 V 136 135 U' 135 J4 135 >i 135?^ 
78. Consol. 1903.. 126 'i 126><i 126?^ 

Chi., Mil. ft St. Paul 109?i I09>i; 108?^ 109 '<{ 109?^ 109^ 

Preferred . 122}^ 122>i 122 122 

Ist mortgage, 8s 135 

2d mort., 7 3-lOs 

7s, gold 125 

Ist M. (La. C. div) 118>^ 

IstM.I. ftM.div.) 

Ist.M. (I. ft D. ext.) 

IstM. (H.ftD.div.) 
Ist M.(C. ftM.div.) 
Consolidated S. F. 



24 >i 
81 

134 >i 



24 24^ 



54 

95 

95?i 

ii5>i 

91 



243i 
82 



N.Y.Cen.&Hud.R. 131 131^ 130?^ 131>^ 131 Ji 131 J^ 

68. 8. F. 1883 ; 

68,S.F., 1887 

Ist mortgage. ... 
Ist mortgage, reg. 

N. Y. Elevated 

1st mortgage . 

N. Y. ft Harlem 

Preferred 

Ist mortgage 135 

1st mortgage, reg 

N. Y., Lake Erie ft W 39Ji 40Vi 39Ji 39% 40Ji .39J^ 

Preferred 80 79>i 80 79>i 

2d Consolidated.. 98 98% 98 Ji 99 99 99 

New2d58fund ^% 

N.Y.,N.Hav'n&Hart 171>^ 172 171% 

North Mo. Ist mort 120?^ 

Northern Pacific... 34»i MY, 31>4 34 

Preterred...... .. 72 72% 72% 72% 72% 



133% 124 

108% 

116% 116% 116% 116% 



33% 34 >i 34 



34% 



34% 



135 135% 



114 



Chi. ft Northwestern 



119 ^i 
135 



Ohio ft Mississippi . 

Pretflrre'l 

2d mortgage 122 

Consolidated 78 118% 

Consol. S; Fund. 118% 

Pacific Mail S. S. Co 44% 45% 43% 44% 44% 44% 

Pacific R. R. of Mo 

1st mortgage 106x 106 106% 

2d mortgage 111% 

Panama 190 

Phila. ft Reading.. 62% 52% 62% 62% 62% 63 '4 
Pitts.Ft.W.&Chi.gtd 134 135% 

Ist mortgage 

2d mortgage 

3d mortgage 



Pullman Palace Car 137 137% 139 
Quicksil'r Min'g Co 12% 13 



138% 138% 139 



41% 
85 



61 ^i 




61% 


40 


40 


40% 


57 


57% 




94 


93 





84 




84 



61% 
41% 
67% 
59 

39 

85 



62 



60% 
95% 
39 



119% 120 

133% 132% 133?i 133% 134 

Preferred 143% 143% 143% 142% 143% 143% 

Ist mortgage 107 

Sinking Fund 6s. 110 110% 

Consolidated 7s 

Consol. Gtoldbo'ds 126% 126 

Do. reg 

Chi., R. Isl. ft Pac. 133% 133 133% 133% 133 

68.1917, c 126% 

Clev.,Col.,Cin.ftInd. 80 81 80% 82 

1st mortgage 125 

Clev. ft Pittsburg gr 134 

7s, Consolidated 

4th mortgage ■. 

Col..Chi..ftInd.Cent. 19% 19% 19% 19% 19 19 

1st mortgage 

2d mortgage 

Del. ft Hud Canal. 107 107% 108 108% 1«8% 108% 

Reg. 78, 1891 

Reg. 78,1884 ..... 105 

7b, 1894 

Del. .Lack.ft Western 127% 128 127% 127% 127% i28% 

2d mortgage 7s ■. . 

78, Consol. 1907 

Erie Railway ' 

1st mortgage 126 

2d mort. 58, ext • 

3d mortgage 

4th mort. 58, ext 

6th mortgage 113 

78, Consol. gold 129% 129% 130 

Great West. Ist mort 

2d mortgage 106 

Hannibal ft St. Jo. . 95% 94% 94% 

Preferred 107% 107 107 

88, Convertible 

Houston ft Tex. Cen 82 81% 

1st mortgage 

2d mortgage 124 124 124 

Uinois Central... 136% 136% 136% 136% 136 >i 

LakeShoreftMichSo 111% 111% 110% 111% 111% 111% 

Consol. 7b 

Consol. 78, reg 

2d Consolidated 126% 

Leh. ft W. B. 7s. C«n 

Long Dock bonds 

Louisville ft Nash. 94% 94% 94 94% 96 94 
7b, Consolidated 123 

ManhatUn 53% 53 63 

Ist pref 97 

H't. Elevated 

l8t mortgage 100% 100% 

Ifichigan Central. . 86% 87 86% 

7b, 1902 126% 

Moms ft Essex 121% 123 

Ist mortgage 136^ 

2d mortgage 

7BOf 1871 123 122 

78, Convertible i „.x 1.1. 

!■. OoiMio:.u*te4 m irxtchburg.... 136 

.3" 



105% 

94% 

107% 



107 k 



98 
108 



Preferred 61 

St. Louis ft San Fran 41 

Preferredi 57 

Ist Preferred 95 

St. L., AlfnftT.H. 

Preferred .... 

1st mortgage 

2d mort. prof 

Income bonds 

St. L., Iron Mt. &S 

l8t mortgage 115 116 

2d mortgage 109% 109% ... 

Toledo and Wabash* 

Ist mortgage 

2dmortgage 108 106% , ... 

7s, Consolidated 

St. Louis Division 

Union Pacific 118% 119 118% 118% 119 119 

Ist mortgage 115% 115% 116 

Land Grant 7s 113% 113% 

Sinking Fund 8s. 122 121% 

United States Ex 78% 78% 

Wabash. St. L.& Pac 36% 36^ 

Preferred 67% 67% 

New mort. 78 

Wells-Fargo Ex 128 

Western Pacific b'ds 110% 

Western Union Tel. 80% 81 80% 80% 81% 
78.,S.Fconv..l900 116 

Fedebal Stocks : — 

U. S. 48, 1907, reg 118% 

U. S. 48, 1907, coup 118H 118% 118% 

U. S. 4 ^is. 1891, reg 113% 113% 

U.S.4%s, 1891, coup 

U. S. 5s. 1881, reg 

U. 8. 5s,confdat3% 102% 

U. S. 68 cont'd at3»^i 101 

Dt. of Col. 3-65S. reg 

Dt. ofCol.3-658.coup 106% 



35% 
66% 

130 



77 

36"^ 
67 



122% 
76% 
36% 
67% 

128 



36% 
67% 
102 



110% 
81% 



63 
96% 



86% 
123" 



122% 



53% 

88 
101 

87 
123" 



126 



66% 

96% 

90% 

86% 
123* 



Boston Stock Exchange. 

Pricet for the Week Ending Feb. 8. 

I I Th.2. F. 3. Sat. 4. M.6. Tu.7. W. 8. 

Atch.,Top.ft8an.Fe. 89 88% 87 87 87% 87% 

Ist mortgage 

2d mortgage 

Land Grant 78 114% 

Boston ft Albany... 167 167% 167% 

7s reg 

Boston and Lowell. 105 104% 104% 104 104 

Boston ft Maine 145'^ 146% 145% 145% 

Bostonft Providence 163 

Bos'n.Hart.ft Erie78 64% 62 61% 61 

Burl.ft Mo.R.L.G.78 

Burl.t Mo.R.inNeb 

6s, exempt 

48 i 84 

Chi..Burl. ft Quincy 135% 136% 135 , 135% 136% 

78 

Cin..Sand&Clev($50) 25% 25% 25% 

Concord ($50) 

Connecticut River 

Eastern 34% 33 34 

New 4% Bonds... 108% 108 108% 108% 

136% 135% 




■-»■—• iiJj-rfH^ifciiif j--j:i.'ji. L'r'J 



N..Y ft New England 59 65% 55 56 55% 66 
7s 117 116% 116% 116% 117 

Northern N. H 107 107% 

Norwich&Worcester 

Ogden ft Lake Cham 30 

Preferred 

Old Colony 124 124% 124 124 125 127 

Ph..Wil.ftBalt.($50) 

Portl'd.Saco ft Ports 113% 

Pueblo ft Ark Val 

78 116% 115 ... . 

Pullman Palace Car 138 139 139 

Union Pacific 119 118% 118% 119% 119% 

6s 114% 

Land Grant 7s.... 111% 

Sinking Fund 88 

Vermont ft Canada 

Vermont ft Mass 

Worcester & Nashua 60 59 

Cambridge (Horse) 120 

Metropolitan(Horse) 76% 

Middlesex (Horse) 

Cal.ftHeclaMin'gCo 232 234 232% 232% 233 232 

Quincy 41% 42 41% 41 41 41% 



7. 



Philadelphia Stock Exchange. 

Closing Prices for the Week Ending Fefi. 7. 

W. 1. Th. 2. F.3. Sat.4. M.6. Tu 

AUegh'y Val. 7 3-lOs 120}^ 1201^ 121 

7b, Income 66% 56 56 56 55 

Camd'n ft Am. 6s. '83 

6s. 1889 

Mort. 68,1889 114 114 

Camden ft Atlantic. 36 

Preferred 

1st mortgage 

2d mortgage 

Catawissa 20 19% 19 18% 

Preferred 56 .... ..... 65 

78. new 

Del. ft Bound Brook 130 

78 

Elmira&Williamsp't 
Preferred 



26 



12% 



13% 
28 



43% 43% 



116% 
62% 



62% 62% 



Hunt, ft B. Top Mt 14 

Preferred 27 28% 28 

2d mortgage 

Lehigh Navigation. 42% 43% 43% 43 

68.1884 

Gold Loan 111% 111% 111% 

Railroad Loan 

Conv. Gold Loan 

Consol. Mort, 78 116% 

Lehigh Valley 62 62 62% 

1st mort. 6s, coup 

1st mort. 6s, reg » 

2d mort. 78 134 

Consol mort. 68.. 118% 120 120 

Consol. mtg.6s.reg 119% 120% 

Little Schuylkill 56 

Minehill&Sch.Hav'n 61 

North Pennsylvania 64 64 64 64 

1st mortgage 6s 106 105% 

2d mortgage 7s 

Genl. mtg.78,coup 

Genl. mtg. 7s, reg 



49% 



35 

71% 

61% 



34% 

72% 

61% 



34}^' 

72 

61 



96 

34 k 

72% 

61% 



60 



35 
72% 

61% 



Northern Central.. 48% 
58 

Northern Pacific... 34% 
Preferred 71% 

Pennsylvania R. R. 60% 

1st mortgage 

vJen'l mort 121% 

Gen'l mort reg 

Consol. mort. 6s 117 Wl 117 

Consol. mort. reg 117% 

Pa.State 6s 2d series 

do 3d series , 

do 58, new 116 

do 38 

Phila. ft Reading... 31% 31% 31% 31% 31% SIJ^ 

1st mortgage 6s 

7s of 1893 

78, new convert 74 

Consol. mort. 7b 

Consol. mort. reg . 126 

Gen'l mort. 68 98% 99 99% 99% 100 100 

Philadelphia ft Erie 16 16 16% 16 16% 

Ist mortgage 68 

2d mortgage 78 114 

Pitt8b.,Cin.ftSt.L.78 120 

Pitts..TitU8v.&Buflf. 18% 18% 18% 18% 18% 19% 
7s 95% 

Schuylkill Navi't'n 

Preferred 12% 12% 12% 12% 13 13 

6s, 1872 

6s. 1882 89% 91 

UnitedCo. ofN. J.. 186 185% 186% 185% 186% 

Hestonville, (Horse) 

Chestnut A Wal. (do) • 

Oreen ft C«ates (do) 



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hW^?if^ '* * \V'^' Kif^ y}JX' ' '^* **W* 



AMERICAN RAILROAD JOURNAL. 



87 



Iiondon Stock Exchange 

Closing 

Jan. 13. 

Baltimore &; Ohio (sterling) 114 118 

Cairo & Viencennes com. stock 36 38 

Do. preferred 5 per cent 90 92 

Central of N. J. $100 share 93 98 

Do. Cons. Mortgage 115 117 

Do. Adjustment Bonds 104 109 

Do. Income Bonds 104 107 

I Det.,G'd Haven & Mil. Equip bd8ll2 114 

Do.Con.M.6p.c.,tiU'83aft'r6p.cllO 112 

Illinois Central $100 shares 135 >^ 136 >i 

Lehigh Valley Cons, mortgage.. 115 119 

Louisville & Nashville mort 6s. 105 107 

Do. Sink. Fund bds (S.&N.Ala)102 104 

Do. capital stock $100 shares. 97 99 

! N. Y. Cent. & Hud. R. mt. bds. .134 137 

Do. $100 shares 136% 137% 

Do mort. bonds (stg.) 123 125 

N.Y.,LakeErie& West.,$100Bh8 42)i 42% 

Do. 6 p. c. pref. $100 shares . . 87 89 

Do. Ist Con. Mort. bds (Erie) .131 13f 

Do. do. Funded Coupon bds. 127 129 

Do. 2d Consol Mort. bonds. . .101 103 

Do. do. Funded Coupon bds . . 97 100 

Do. Gold Income bonds 93 95 

ir.Y.,Pa.& Ohio 1st mort. bonds. 47 48 

Do. Prior Lien bds (sterling) . .104 108 

Pennsylvania, $50 shares 63 64 

Do. Con. Sink Fund Mort 116 118 

Philadelphia & Reading $50 shs 33 >* 33% 

(General Consol Mortgage 116 118 

Do. Improvement Mortgage . . 103 105 

Do.Gen.Mtg.'74,ex-dcfdcoup. 99 101 

Do. Scrip for the 6 def. ^ coup. 92 97 

Pittsb. . Ft. W. & Chi. Eq. bds. . . . 105 109 

St. L. Bridge 1st mort. gold b'd . 126 128 

Do. 1st pref. stock 102 104 

Union Pa. Land Grant Ist. mtg.115 119 



Prices . 

Jan. 6. 
114 116 



36 

90 

93 

115 

104 

104 

112 

110 

132 

116 

105 

103 

103 

134 

132 

120 

40 

84 

131 

127 

100 

97 

95 

45 

104 

62 

118 

32 

116 

103 

100 

92 

105 

126 

102 

115 



38 

92 

98 
117 
109 
107 
114 
112 
133 
119 
107 
105 
105 
137 
134 
122 

40% 

86 
133 
129 
102 
100 
100 

46 
108 

63 
122 

33% 
118 
106 
101 

97 
109 
128 
104 
119 



AMEBICAN" RAILROAD JOURNAIi. 
Financial and Commercial Revie'w. 



i 



Thubsday Evening, Feb. 9, 1882. 
The rate for call loans on stocks this morn- 
■: ing was 4 to 6 per cent, and 2@,3 per cent on 
United States bonds. Time loans were 5@6 
per cent, which were also the quotation for 
prime mercantile paper. In the afternoon the 
quotation for call loans at the Stock Exchange 

■ was 4J per cent. 

The posted rate for demand Sterling was 4.- 
90|, and the actual rate 4.89f@4.89f. The act- 
ual rates for 60 day sterling were 4.84@4.84r|. 
Cable transfers were 4.90f(^4.91}. Prime com- 

■ mercial bills were 4.82f@4.83. For Conti- 
■- nental bills, the actual rates were: francs, 5.- 
] 13i@5.14f. and 5.18|@5.19f ; marks, 94f@| 

and guilders 40}@40|. 

The new Wilmington (Del.) loan of $60,000, 
bearing 4J per cent interest, has been placed in 
Philadelphia at rates rangmg from par to 10] J. 

Three bids were received at New Orleans on 
the 1st inst. to sell to the State of Louisiana 
$600,000 worth of her four per cent bonds, the 
lowest of which was $118.58. The bids were 
all rejected. : / ■ : 

The report of the receiver of the Lebanon 
Springs Railroad Company, filed at Albany on 
the 1st inst. shows receipts for the quarter end- 
ing Dec. 31 (including a balance of $8,701) of 
S80,660, and disbursements of $68,614. The 
earnings during the same period were $23,661. 
The assets amount to $320,876 and the liabili- 
ties to $312,203, the latter including $293, 111 in 
Receivers certificates. 

The Pullman Palace Car Company have de- 
cided to increase the capital stock of the com- 
pany $2,523,600, which adds 25 per cent to the 
present amount of stock. Stockholders of 
record of Feb. 18 have the option to subscribe 
between that date and March 1 for an amount 
of the new stock not exceeding one-fourth of 
their present holdings at par. The payments 
for this new issue will be 50 per cent on or be- 



fore March 1 and 50 per cent between that date 
and May 8. Applications can be made at the 
Farmers' Loan and Trust Co., New York, New 
England Trust Co., Boston, and at the compa- 
ny's office in Chicago. 

The Chief Justice of the Supreme Court of 
Missouri has refused the application for a writ 
of error to the United States Supreme Court in 
the Hannibal and St. Joseph mandamus case, 
there being no Federal question involved in the 

suit. 

The United States Court, Philadelphia, is au- 
thority for the statement that the Philadelphia 
and Reading receivership would not last more 
than about three months. 

The House of Representatives on the 2d inst. 
refused to release the Philadelphia and Reading 
Railroad Company from the payment of a tax 
of $483,700. 

At the annual meeting of the Guarantee Com- 
pany of North America, held at Montreal on 
the 3d inst., a statement was presented showing 
that of 5,737 risks offered during the year 5,075 
were accepted and bonds issued, the new an- 
nual premiums being $36,784.80. The total 
revenue of the year was $80,173.78. The sur- 
plus as regards shareholders was $19,368.45, 
and the total resources for the security of policy- 
holders was $722,060.82. A dividend of six 
per cent, on the paid-up capital had been paid 
for the year and over $5,000 added to the re- 
serve. ■.■:.%-■> ■'•;.- .--'^v--.- 

By the new contract between the Pacific 
Mail Steamship Company and the Union Pacific 
Railroad Company, the former is to receive 
from the latter $95,000 per month, and six 
months' notice must be given before either 
party can withdraw. The old contract, abro- 
gated some time ago by the railroad company, 
allowed the Pacific Mail Co. $110,000 per month. 

According to the annual report of Mr. Ains- 
worth R. Spofford, Librarian of Congress, the 
library now numbers 420,092 volumes, as 
against 396,788 volumes one year ago. The 
accessions during 1881 embraced 23,304 volumes 
and 12,834 pamphlets. The business of the 
copy-right department exhibits a slight in- 
crease for 1881. The report concludes with an 
appeal for additional accommodations. 

The statement of the financial condition of 
the East River Bridge Company to the 31st of 
January, 1882, shows that there have been re- 
ceived from New York, $4,537,900 ; from Brook- 
lyn, $8,657,037, and from other sources, $344,- 
010. The cash expenditures to that date were 
$13,439,590.56. The cash on hand amounts to 
$99,356.49, and the liabilities, $101,353.45. 

The Governor of Wisconsin, in surrendering 
the gubernatorial chair, announced that the 
State was entirely out of debt, and had a bal- 
ance of $117,000 in the treasury. Her neigh- 
bor, Minnesota, however, has been struggling 
to repudiate certain railroad bond obligations 
and has finally settled them at 50 cents on the 
dollar. 

The new constitution of Missouri, said to be 
the most perfect in the country, provides that 
no railroad or other transportation company 
shall grant free passes or tickets, or tickets at 
a discount, to members of the General Assem- 
bly or any other State officer, and the accept- 
ance of the same shall be a forfeiture of office. 



The statement of exports of petroleum and 
petroleum products from the United States dur- 
ing the month of December last, as furnished 
by the Bureau of Statistics, shows a total 
of 45,250,872 gallons, representing a value of 
$4,140,430, showing an immense increase over 
the exports for the corresponding month of 
1880, which were 28,474,292 gallons, showing a 
value of $3,041,638. For the year 1881 the 
total exports of these products were valued at 
$48,546,103 as against $34,505,645 for the pre- 
vious year. Shipments from New York alone 
during December last aggregated 32,338,638 
gallons, valued at $3,010,548. | 

The total production of wool in 1881 com- 
pares with the four next preceding ^ears as 
290, 264, 232^, 211, and 208^ million pounds, 
and the domestic consumption in 1881 was 
251 f million pounds, compared with 348^, 296, 
246, and 258 1 million pounds in next preceding 
years. The foreign imports in 1881 were 
51,620,757 pounds, against 107,541,300 pounds 
in 1880. 

The Missouri State Fund Commissioners have 
issued an order calling in two hundred and 
fifty 5-20 State renewal bonds for pa>'ment on 
the 1st of March. When these bonds are paid, 
the amount reduced since January 1, 1871, will 
be $752,000. 

The closing quotations on Thursday were : 
Adams Express, 147(^14$; American Express, 
92093 ; Chicago, Burlington and Quincy, 135J 
(^136; Canada Southern, 53|@,53|; Chicago and 
Northwestern, 135(^135 J; do. pref., 143|(^144 ; 
Chicago and Alton, 135}@,135.^ ; Central of New 
Jersey, 96|(^96; Central Pacific, 9U(5^91|; Chi- 
cago, Milwaukee and St. Paul, 109^(^109| ; 
do. pref., 122(^122^ ; Columbus, Chicago and 
Lidiana Central, 18J(^18| ; Delaware and Hud- 
son Canal, 108|(^108§ ; Delaware, Lackawan- 
na and Western, 127^@127| ; Hannibal and 
St. Joseph, 96^(^97 ; do. pref., 108J(^109J ; 
Illinois Central, 136^0 136.\ ; Lake Erie and 
Western, 34@ — ; Lake Shore and Michigan 
Southern, lllf(^lllf ; Metropolitan Eleviated, 
89|@,90 ; Manhattan Elevated, 56(S56| ; do. 
1st pref., 96(^97J ; Michigan Central, 86|(^ 
86 J; New York Elevated, 107(S^108t; New York, 
Lak«Eri« and Western, 39J@39| ; do. pref., 
79@ — ; New York Central and Hudson River, 
131|@131f ; Northern Pacific, 34^@35 ; do. 
pref., 73f^73| ; Ohio and Mississippi, 34J(^ 
34|; Pacific Mail, 44|(^45; Texas and Pacific, 
48f@48i ; Union Pacific, 119@1191 ; United 
States Express, 75J(^76|; Western Union Tele- 
graph, 81|(^81|; Wabash, St. Louis and Pacific, 
36|®36|; do. pref., 671($67f ; Wells-Fargo Ex- 
press, 126J(^— . r j 

The following quotations of sales of Railway 
and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 

New York. — Atlantic and Pacific 1st, 95 ; 
Am. Dock and Imp, 5s, 100 ; Atchison, Colora- 
do and Pacific 1st, 98^ ; Boston and New York 
Air Line pref., 68 J ; BellcA-ille and Southern 
Illinois 1st, 121 J ; Columbus, Chicago and In- 
diana Central Inc., 70J;do. 1st Trust Co. certif. 
ass. sup., 118 ; Charlotte, Columbia and Au- 
gusta, 74; Chicago, St. Louis and New Orleans, 
81J ; Chesapeake and Ohio 1st pref., 37; do. 
2d pref., 25| ; do. cur. int., 52 ; do. 1st, Series 
A, 102 J; Chict^o, St. Paul, Minneapolis and 



i-mti^ A-'i.t^'M.tm^Mi -*- ■-^— - 



.>:i4*..^flefc^U«. ^a ^ f :'* ^^ ■. aUu^ . 



88 



:- * 1 



*y^'f.r "^ • * ' *""v"T?" V > vv r\r 



AMERICAN RAILROAD JOURNAL. 



! 



^'•-.'JA'T-. -r 



Omaha, 35|; do. pref,, lOlf ; do. consol., 99|, 
Central Iowa 35^ ; do. 1st, lllj; Columbia and 
Greenville pref., 96 ; do. 2d, 96 ; Chicago, Mil- 
waukee and St. Paul S. M. div., 1st, 103 J; do. 
La C. and Dav. div. 1st, 94 ; do. S. W. div. 1st, 
106| ; Cairo and Fulton 1st, 109 ; Chicago and 
Alton Inc., 104 ; Chicago and Northwestern S. 
F. 5s, 101 ; Cleveland, Columbus, Cincinnati and 
Indianap. consol., 124J; Denver and Kio Grande 
71 J; do. Ist, 113; do. 1st consol., 104 J ;Danbury 
and Norwalk, 65 ; East Tennessee, Virginia 
and Georgia, 14 J ; do. pref., 23 J; do. 5s, 78 ; 
do. inc., 56|^ ; do. Ist, 115 ; Evansville and 
Terre Haute Ist consol., 96 ; Green Bay, Win- 
ona and St. Peter 1st, 91J ; Hudson River 2d 
S. F., 110 ; Hannibal and Central Mo. 1st, 108; 
Indiana, Blaomington and Western, 46|; Inter- 
national and Gt. Northern 1st, 106 ; Indiana- 
polis, Decatur and Springfield 1st, 103^ ; Kan- 
sas Pacific 1st consol., 103t ; do. 6s, F. & A., 
1895, 110 ; do. 6s, Denver div. ass., 108 J ; Laf- 
ayette, Bloomington andMuncie 1st, 102 J; Lou- 
isville and Nashville Gen'l mort., 6s, 101 J ; do- 
Evansville, Henderson and Nashville 1st, 100 ; 
do. Cecilian Br. Ist, lllj ; Louisville, New 
Albany and Chicago, 71; do. 1st, 101 J ; Long 
Island, 51^; Lake Erie and Western, 34; do. 1st, 
104J ; Metropolitan Elevated 2d, 91 ; Manhattan 
Beach, 30J ; Marietta and Cincinnati Ist pref., 
12i; do. 2d pref., Sf ; Mobile and Ohio, 32| ; 
do. New mort., 113 ; Missouri, Kansas and 
Texas, 37 J ; do. gen'l mort. 6s, 83 ; do, consol. 
7s, 103 J ; do. 2d, 69|; Missouri Pacific, 103| ; 
do. 1st consol. 100 J ; do. 3d, 112 ; Memphis 
and Charleston, 76 ; Milwaukee, Lake Shore 
and Western, 47 ; do. inc., 75 ; do. 1st, 100 J; 
Minneapolis and St. Louis Ist, 115^ ; do. 1st, 
Iowa Ext. 111| ; Michigan Central 5s, 98 J ; 
Nashville, Chattanooga and St. Loxiis, 83|; do. 
1st, 115} ; New York, Ontario and Western, 26|; 
Norfolk and Western pref., 57; do. Gen'l mort., 
103 ; Northern Pacific Ist, 96 ; New Orleans 
Pacific Ist, 91 ; New York City and Northern 
Gen'l mort., 80 ; Ohio Central, 24|; do. 1st, 98 ; 
do, inc., 45 ; Oregon Railway and Nav., 134| ; 
do. 1st, 106; Oregon Transp., 71 ; Ohio South- 
em, 20 ; do. 1st, 91^ ; Ohio and Mississippi, 
Springfield div. 1st, 121 J ; Peoria, Decatur and 
EvansAdlle, 35} ; do, inc., 72 ; do. Evansville 
div. Ist, 103J ; Rome, Watertown and Ogdens- 
burg, 21 1 ; do. 1st consol. 90 ; Rochester and 
Pittsburg, 28 J; do. inc., 39 J ; Richmond and 
Allegany, 31 J ; do. 1st, 95; Richmond and Dan- 
ville, 240 ; do. W. P., 240 ; do. 1st, 105 J ; St. 
Louis and San Francisco 2d, Class B, 90^; do. 
C, 89 ; St. Louis, Alton and Terre Haute divi- 
dend bonds, 52 ; St. Paul and Duluth, 30| ; 
do. pref., 70 ; St. Paul Minneapolis and Mani- 
toba, 112 ; do. 1st, 109| ; do. 2d, 105| ; South 
Carolina, 30 ; do. 1st, 99 ; do. inc , 45 ; South- 
em Pacific of California 1st, 104; Scioto Val- 
ley Ist, 100}; St. Louis, Kansas City and North- 
em, R. E. 78, 108 ; St. Louis, Iron Mountain 
and Southem 5s, 84| ; Toledo Delphos and 
Burlington, 14 ; do. inc., 22 J ; Texas and Pa- 
cific, 48} ; do. inc. L. G., 70 ; do. Rio Grande 
div. Ist, 84|; Texas Central 1st, 107^; Wabash, 
St. Louis and Pacific Gen'l mort. 6s, 88 ; do. 
Chicago div. ls„ 86}; do. Toledo, Peoria and 
Western 1st, 112 ; do. Iowa div. Ist, 93 ; War- 
ren R. R. 2d mort., 121 ; Arkansas 78, L. R., P, 
B. and N. O., 23 ; Alabama, Class A, 81| ; 



Louisiana consol. 7s, 68 ; Missouri 68, 1887, 
109J ; do. 1888, 109| ; do. H, & St, J. issue, 
1886, 101} ; South Carolina 6s, non-fund., 8| ; 
Tennessee 6s, old, 67f ; do. new, 69J ; Am. 
Dist. Tel., 39 ; Sutro Tunnel, | ; Colorado Coal 
and Iron, 40 J; do. 1st, 86 ; Maryland Coal, 19; 
New Central Coal, 18 ; Deadwood Mining, 6| ; 
Homestake, 19 ; Little Pittsburg, If; Ontario, 
35 ; Robinson, 2J; Standard, 17J ; Starmount, 

Philadelphia.— GoJitTal Transportation, 35} ; 
Camden and Atlantic, 35 ; Huntingdon and 
Broad Top Mt, consol. 58, 89 ; Harrisburg and 
Lancaster 68, 102| ; New Orleans Pacific Ist, 
91f ; Pennsylvania Company 106; Philadelphia 
and Reading R, R, scrip, 82 ; do, Inc, 78, 97^; 
Pittsburg 7s, W. L., 126 J ; do. Av. 78, 107} ; 
Perkiomen R, R. 6s, 104 ; Philadelphia, Wil- 
mington and Baltimore 4s, 95 J ; Pennsylvania 
Canal 6s, 99 ; Philadelphia, Germantown and 
Norristown, 106 ; Sunbury, Hazleton and 
Wilkesbarre 2d, 30 ; Schuylkill Nav, 6s, 1895, 
65; Susquehanna Canal 78, 59 J ; do. pref. 6s, 75; 
Susq. Coal 6s, 109 ; Texas and Pacific 1st mort. 
6s, 107 ; do. consol. mort. 6s, 99} ; Warren and 
FranMin 7s, 111}. The latest quotations are : 
City 68, — @118 ; do. free of tax, 126(^^130 ; 
do, 4s, new, 102@109; Pennsylvania State 6s, 3d 
series, 100@101 ; do. 5s, new loan, 115^(^116 ; 
do. 4s, old, 107@111 ; Philadelphia and Read- 
ing R. R., 31^@31f ; do. congol, mort, 78, reg,, 
125@— ; do, mort. 68, 117@— ; do. gen'l 
mort. 6s, coupon, 99i@100}; do. 78, 1893, 125@ 

— ; do. new, con v., 74@76; United New Jersey 
R. R. and Canal, 185J@186| ; BufiEalo, Pitts- 
burg and Western, 19@19J ; Pittsburg, Titus- 
ville and Buffalo 7s, 96@,98 ; Camden and Am- 
boy mort, 6s, 1889, 113^@114} ; Pennsylvania 
R. R., 61^@61i; do. general mort. reg., 121}@ 
122J; do. consol, mort. 68, reg., 116J@117; Little 
Schuylkill R. R. 56@56J ; Morris Canal, 65@ 

— ; do. pref., 166@169J ; Schuylkill Naviga- 
tion, 5J@6 ; do. pref., 12^@13 ; do. 68, 1882, 
92@94 ; do. 1872, 107@108 ; Elmira and Wil- 
liamsport pref . , 58@65 ; do, 68, 113@ — ; do. 
5s, 98@100; Lehigh Coal and Navigation, 43f@ 
43^ ; do. 6s, 1884, 106@— ; do. R. R. loan, 116 
@118 ; do. Gold Lo.in, lll@llli ; do. consol. 
78, 116^@117 ; Northern Pacific, 34}@34i ; do. 
pref., 72f@72J ; North Pennsylvania, 63@64 ; 
do, 6s, 105@106^ ; do, 7s, 121@— ; do. General 
mort. 78, reg,, 119@123 ; Philadelphia and 
Erie, 16@16} ; do. 78, 114@115 ; do. 58, 104@ 
106; Minehill, 61@62 ; Catawissa, 18J@19; do. 
pref., 54^@55 ; do, new pref,, 53@54J ; do. 
7s, 1900, 120@— ; Lehigh VaUey 62@62} ; do. 
6s, coupon, 120@122 ; do, reg., 121@122 ; do. 
2d mort. 78, 133@ — ; do. consol. mort. 120@, 
120^; Fifth and Sixth streets (horse), 149@150; 
Second and Third, 110@115 ; Thirteenth and 
Fifteenth, 75@80 ; Spruce and Pine, 45@50 ; 
Green and Coates, 80@85 ; Chestnut and Wal- 
nut, 90@94 ; Germantown, 60@70; Union, 110 
@115 ; West Philadelphia, 105@110 ; People's 
14J@16} ; Continental, 100@102. 

Boston. — Atlantic and Pacific 6s, 95; do. In- 
come 6s, 30 ; Boston Land, 8} ; Boston Water 
Power, 6}; Boston, Clinton, Fitchburg and New 
Bedford, 47 ; do. pref., 129 ; Burlington and 
Missouri River in Nebraska 68, non-exempt, 
104; Chicago, Burlington and Quincy 48, 87 ; 
do. 4s, Denver ext,, 84 J ; do, 58, 1919, 105 ; 



do, 58, 1901, 102J ; Cincinnati, Sandusky and 
Cleveland 78, 61 ; Cheshire R. R., 59 ; Connotton 
Valley, 18 ; do. 7s, Straitsville div., 75 ; Central 
of Iowa, 34 ; do. 2d, 49J ; Flint and Pere Mar- 
quette, 23 ; do. pref., 92 J; Highland Street R. 
R., 138 ; Iowa Falls and Sioux City, 82 J ; Kan- 
sas City, Fort Scott and Gulf, 75 ; Kansas City 
Lawrence and Southern 58, 105 ; Kansas City, 
St. Joseph and Council Bluffs 7s, 113 ; Louis- 
iana and Missouri River, 15 ; Little Rock and 
Fort Smith, 65; do. 78, 110|; Maine Central, 39; 
Marquette, Houghton and Ontonagon, 54} ; do. 
pref,, 111 ; Mexican Central 78, 84 ; do. blpck, 
old, 109 ; do, new, 93 ; Northern Pacific 68, 
97 ; New York and New England 6s, 107; New 
Mexico and Southem Pacific 7s, 114 ; Ogdens- 
bui^ and Lake Champlain 6s, consol., 96 ; do. 
inc., 48 ; Rutland, 4 J; do. pref., 26; Sonora, 24}; 
do. 1st 78, do. block. No. 4, 109; Summit Branch, 
13 ; Toledo, Delphos and Burlington, 6| ; do. 
inc. M. L., 22 ; do. 6s, S. E. div., 66} ; do. in- 
come, 16 ; Wisconsin Central, 19|; do. pref., 
31; Atlantic Mining Co., 14; Allouez, 2f ; Bruns- 
wick Antimony, 15 ; Blue Hill, 50c. ; Crescent, 
37}c. ; Catalpa, 50c. ; Franklin, 12 ; Harshaw, 
3| ; Huron, 2} ; National', 2f ; Osceola, 32 ; Pew- 
abic, 14 ; Phoenix, 2} ; Ridge, 3 ; Sullivan, If; 
Silver Islet, 20. 



•^^ 



Nothing is more injurious to a man than the 
dead level of prosperity. — Moody. \ 



No man ever became great or good except 
through many and great miateikes.— Gladstone. 



An agonized father applied to Superintendent 
Walling to assist him in finding his boy. "Has 
he any particular marks about his person by 
which he can be identified?" asked the offi- 
cial. "Yes," was the reply, "when he over- 
feeds himself he has awful cramps in his 
stomach." 

I- . 



The United States engineers who were de- 
tailed to examine the route of the proposed ship 
canal through the Jersey flats, connecting the 
docks of the Central Railroad of New Jersey 
with the deep water of the Kill-von-Kull inlet, 
report that the cutting of a channel 21 feet deep 
at mean low water and 300 feet wide at bottom 
will cost $7,134,980. 



The dimensions of the tnnnel under the St. 
Lawrence are to be as follows : Entire length, 
about 21,700 feet ; open cuttings on Hochelaga 
side, 2,500 feet, and on the Longneuil side 
5,220 feet ; tula length of tunnel proper, 14,- 
980 feet. It is to be 26 feet wide inside and 23 
high. It will be lined with brick masonry 
throughout, except the fronts, which will have 
fagades of stone. The arch will vary from 20 
to 30 inches in thickness, according to the 
character of the ground to be supported. 



V. 



The first report of the Railroad Commission- 
ers of Kentucky, just issued, claims tiiat much 
good has already been accomplished by the 
commission, and suggests further legislation. 
It contains a letter from the New York Cham- 
ber of Commerce, in which it is declared that 
the success of the Georgia Railroad Commis- 
sion has demonstrated the fact that, with ade- 
quate powers, a commission can secure equality 
and publicity in railroad management without 
injury to the roads and with great benefit to 
the public. 



.*.•.',•<*. ^v. .t-'-' .i-Lf:}, KiX^l 



■: .: . : i.<.jiiitMtt^tii^iia/ji^i 



'a,iji^.iiiii. 



1 ■>.:"■'>•' "•• 



AMERICAN RAILROAD JOURNAL. 



89 



M 



;l 



4 






I 



statement of the Public Debt of the 
United States, February 1, 1882, 



DEBT BEABJMO INTEBEST. 
; " : ~ ; Amount '■_,■ 

Outstanding, 
6 per cent loan, 1861-'81, 

continued at 3>^ per ct. $81,624,200 00 
6 per cent loan 1«63-'81 

continued at 3)^ per ct 47,855.700 00 
6 per cent funded loan of 

1881 401,503.900 00 

4>2 per cent funded loan 

of 1891 250,000,000 00 

4 ner cent funded loan of 

1907 738.788,750 00 

4 i>er cent refunding cer- 
tificates 559,100 00 

3 per cent navy pension 

fund 14,000.000 00 



Accrued 
Interest. 

$238,070 58 

139,579 12 

3,513.145 47 

1.875,000 00 

2.462,629 00 

1.863 67 

35,000 00 



1,104 91 


85 74 


1.250 00 


22 00 


3,275 00 


213 06 


20,000 00 

8,000 00 

10,000 00 


2.945 00 
600 66 


370.700 00 


8,439 82 


58.650 00 


170 95 



76,750 00 18.895 79 

472,400 00 110,073 76 

407.800 00 15.650 92 

1,097,550 00 204.112 15 

298,950 00 23,759 12 



100,000 00 



5,430 00 

70,653 12 

6,202 50 



129.150 00 

914,850 00 35,077 50 



Aggregate of debt bear- 
ing interest $1,534,331,600 00 $8,265,287 84 

Interest due and unpaid 1,953,060 31 

DEBT ON WHICH INTEREST HAS CEASED SINCE MATUBITT. 

Amount Interest due 
Outstanding. & unpaid. 

4 to 6 per cent, old debt, 1837. $57,665 00 $64,174 81 

5 per cent. Mexican indem- 
nity stock, 1846 

6 per cent, bonds, 1847 

6 per cent, bounty land scrip, 

1847 

5 per cent. Texas indemnity 

bonds. 1850 

5 per cent, bonds, of 1858. . . . 

5 per cent, bonds, of 1860 

6 per cent. 5-20 bonds, 1862, 
called 

6 per cent. 5-20 bonds, June, 

1864, called 

6 per cent. 5-20 bonds, 1865, 

called 

5 per cent. 10-40 bonds. 1864, 
called 

6 per "'int. Consol. bonds, 

1865. caUed 

6 per cent. Consol. bonds, 

1867, called 

per cent. Consol. bonds. 

1868, caUed 

6 per cent, loan, Feb. 8. 1861, 

matured Dec. 31. 1880 

per cent, funded loan 1881, 

caUed 2,742,200 00 

Oregon War Debt, Marcli 2, 

1881, matured July 1, 1881. 
6 per cent loan of July 17 and 

Aug. 6, 1861. matured June 

30, 1881 

6 per cent loan of July 17 and 

Aug., 5 1861. continued at 

33^ per cent, matured Dec. 

24, 1881, and Jan. 29, 1882, 

caUed 6,316,150 00 

6 per cent, loan of March 3, 

1863,matured June 30, 1881. 
1-10 to 6 per cent. Treasury 

notes, prior to 1846 

1-10 to 6 per cent. Treasury 

notes, 1846 

6 per ct. Treasury notes, 1847. 

3 to 6 per cent. Treasury 
notes, 1857 

6 per ct. Treasury notes.lSei. 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1861 

5 per cent. 1 year note8,1863.. 

6 per cent. 2 year notes, 1863. 

6 per ct. compound interest 
notes, 1863-64 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1864-65 

6per cent, certificates of in- 
debtedness, 1862-63 

4 to 6 per cent, temporary 
loan, 1864 

3 per cent, certificates, called. 

Aggregated of debt on which 

Interest has ceased since ' ' 

maturity $13,920,005 26 $662,949 73 

DEBT BEABINO NO INTEBEST. 

Demand notes, 1861-62 $59 890 00 

Legal tender notes. 1802-63..., 346, 681 '.016 00 

Certificates of Deposit 11 ,400,000 00 

Com certificates, 1863 5,188.120 00 

Silver certificates, 1878 68,999.670 00 

Unclaimed interest 

Fractional currency, 1862, '< 

1863 and 1864 $15,445,427 67 
Less amount es- 
timated as lost 

or destroyed, ■ 'y^-r 

act of June, 
21.1879. 8,375.934 00 

7 069,493 67 



BECAPITULATION. 



6,316,150 00 


29,530 06 


268,650 00 


7,093 50 


82,525 35 


2,668 06 


6,000 00 
950 00 


206 00 
57 00 


1.700 00 
3.000 00 


99 00 
364 50 


16,300 00 
43,085 00 
34,200 00 


1,104 43 
2.166 35 
1.729 80 


224,290 00 


45.779 89 


140,900 00 


4.752 92 


4,000 00 


253 48 


2,960 00 
5.000 00 


244 19 
394 31 



7,266 61 



Aggregate of debt bearing no 
*■*•""* $439,398,189 67 $7,354 61 



Debt bearing interest in 
coin, viz : 

Bonds at 6 per cent., con- 
tinued at 3>i per cent. 

Bonds at 5 per cent, con- 
tinued at 3>^ per cent. 

Bonds at 4>^ per cent. . .. 

Bonds at 4 per cent 

Refunding certificates. . . 

Navy pension fund, 3 p.c 



Amount 
Outstanding. 



$129,479,900 00 

401,503,900 00 

250,000,000 00 

738,788.700 00 

579,100 00 

14,000,000 00 



Interest. 



$1,534,331,600 00 $10,218,348 16 
Debt on which interest has 
ceased since maturity. 13,920.005 26 662,949 73 



Debt bearing no int.. viz: 
Old demand and legal- 
tender notes $346,740,906 00 

Certificates of deposit 1 1.400,000 00 

Coin & silver certificates. 74,187,790 00 

Fractional currency 7.069,493 67 



Unclaimed interest. 



$439,398,189 67 



7,266 61 



$1,987,649,794 93 

Total debt, principal and interest to date, 
including interest due and unpaid. . . $1 

; ! AMOUNT IN TBEA6UBT. 

Interest due and unpaid 

Debt on which interest has ceased 

Interest thereon 

Gold and silver certificates 

U. S. notes held for redemption of cer- 
tificates of deposit 

Cash balance available February 1, 1882. 



$10,888,554 39 
,998,538,349 32 

$1,953,060 31 

13,920,005 26 

662,949 73 

74,187,790 00 

11.400,000 00 
143,901,663 29 



$246,025,468.59 
Debt, less am't in Treas'y Feb. 1, 1882. . .$1,765,491,717 09 
Debt, less am't in Treasury Feb. 1,1882.. 1,752,512.880 73 



Decrease of debt during the month $12 978,836 36 

Decrease of debt since June 30. 1881 $88,085,931 25 

BONDS ISSUED TO THE PACIFIC RAILBOAD COMPANIES, IN- 
TEBEST FAXABI.E IN LAWFUL MONET. 

Accrued- 
Interests 
not paid. 
$129,425 60 
31,515 00 
13&182 56 

8,000 00 
9,852 80 

8,141 60 



Central Pacific bonds, 
Kansas Pacific bonds, 
Union Pacific bonds. 
Cent. Branch Union 

bonds, 1862-64 

West'n Pacific Bonds, 
Sioux City & Pacific 

1862-64 



Amount 
Outstanding. 
1862-64$25,885,120 00 
1862-64 6,303,000 00 
27,236,512 00 



1862-64 
Pacific 



1862.64 
bonds. 



1,600,000 00 
1,970.560 00 

1,628,320 00 



Totals $64,623,512 00 $325,117 56 

Interest paid by the United States, $53,405,977 38; in- 
terest repaid by transportation of mails, &c., $14,804.- 
021.94; interest repaid by cash payments : 5 per cent, 
net earnings. $665,198.87; balance of interest paid by 
United States, $37,946,756.57. 

The foregoing is a correct statement of the publio 

debt, as appears from the books and Treasurer's returns 

in the Department at the close of business, January 

31,1882. Charles J. FoLGEB, 

Secretary of the Treasury. 



Cincinnati Iron Market. 



OmcE OF E. L. Harper «fc Co. 

Cincinnati, Feb. 7, 1882. 
The demand has been fair during the past 
week. No change to note in prices. 
We quote as follows : 

FOUNDBT. 

No. Mos. 

Hanging Rock Charcoal 1 29 50@30 75 4 

Strong Neutral Coke 1 27 00@28 00 4 

American Scotch 1 26 50@27 60 4 

OBEY FOBGE. 

Neutral Coke 25 50@26 50 4 

Cold Short 24 00@25 00 4 

CAB WHEEL AND MAT.T.Tr.AH T.w 

Hanging Rock Cold Blast 36 00@38 00 

Warm Blast 30 00@32 00 

Lake Superior 1 and 2 32 00@33 00 

Lake Superior 3 to 6 34 00@36 00 

Southern Car Wheel 36 00@40 00 



The Scotch Iron Trade. 



The statistics of the Scotch iron trade for 1881 
have been issued. The production for the year 
has been 1,176,000 tons, against 1,049,000 last 
year, while the consumption in foundries and 
malleable iron and steel works was 397, 000 tons 



this year, against 384,000 last. The exports 
have been 578,000 tons, against 671,000 ; while 
the stocks in stores and in makers' hands were 
940,000 tons, against 739,000 last year, being 
an increase of 201,000. The number of furnaces 
in blast at the beginning of this week was 105, 
against 124 on the corresponding date, last year. 
The average price of manufacturers' warrants 
was 49s 1^, against 54s 6d last year. The highest 
price this year was 53s 9d, and the lowest 45s; 
whereas last year the highest was 73b 3d and 
the lowest 448 9d. The quantity of malleable 
iron and steel made in Scotland was 361,000 
tons, against 292,000 in 1880, and the quantity 
of Cleveland and Cumberland iron consumed in 
Scotland was 420,000 tons, of which 240,000 
were in foundries and 180,000 tons in malleable 
iron and steel works. Last year the quantity 
consumed was 355,000 tons. 



The Coal Trade. 



269,084 
67,786 

272,657 

108,054 
65,80C2 

209,507 

45,874 
237,687 
186,002 



1881. 
975.495 

728.495 

247.216 
69,374 

247.833 

107,367 
67,945 

198,572 

35.888 
183,664 
130.745 



The leading coal carrjnng compares make 

the following reports of their tonnage for the 

week ending Jan^jiarj- 28, and for the year to 

same date, compared with their respective 

amounts carried to the same time last year: 

Week. 1882. 

Beading Railroad 96.557 1,215,725 

Schuylkill Canal 27.656 

Lehigh Valley 57.760 92l!o68 

Delaware, Lackawanna and 

Western 48,427 

Shamokin 17,672 

Central R. R. of New Jersey. . 68,525 

United R. R. of New Jersey. . 18,522 

Pennsylvania Coal 11,723 

Delaware and Hudson Canal . . 28, 545 
Huntingdon and Broad Top 

Mountain 12.578 

Penn. and New York 21.824 

Clearfield. Pa 43.400 

The total tonnage of anthracite coaTfrom all 
the regions for the week ending January 28, 
as reported by the several carrj-ing companies, 
amounted to 318,327 tons, against 314,752 tons 
in the corresponding week last year, an increase 
of 3,575 tons. The total amount of anthra- 
cite mined for the year is 1,653,283 tons, against 
1,526,481 tons for the same period last j'ear, an 
increase of 126,802 tons. The quantity of bi- 
tuminous coal sent to market for the week 
amounted to 90,362 tons, against 67,014 tons 
in corresponding week last year, an increa.se 
of 23,348 tons. The total amount of bitumin- 
ous mined for the year is 306,310 tons, against 
236,028 tons for the corresponding period last 
year, an increase of 70,282 tons. The total 
tonnage of all kinds of coal for the week is 
408,689 tons, against 381,766 tons in corre- 
sponding week last year, an increase of 26,923 
tons, and the total tonnage for the coal year is 
1,959,593 tons, against 1,762,509 tons to same 
date last year, an increase oi 197,084 tons. The 
quantity of coal and coke carried over the 
Pennsylvania Railroad for the week ending Jan- 
uary 28 was 193,754 tons, of which 136,384 
tons were coal and 57,370 tons coke. The total 
tonnage for the year thus far has been 810,571 
tons, of which2573,050 tons were coal and 237,- 
521 tons coke. These figures embrace all th« 
coal and coke carried over th« road east and 
west. The shipments of bituminous coal from 
the mines of the Cumberland coal region dur- 
ing the week ended January- 28 were 39,812 
tons, and for the year to that date 160,689 tons 
an increase of 51,402 tons as compared with the 
corresponding period of 1881. The coal was 



90 



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AMERICAN RAILROAD JOURNAL. 



--^^ 



carried to tidewater as follows : Baltimore and 
Ohio Railroad— week, 32,905 tons ; year, 123,- 
266 tons ; increase compared with 1881, 38,115 
tons. There were no shipments by canal. 
Pennsylvania Railroad — week, 6,754 tons ; year, 
26,710 tons ; increase compared with 1881, 12,- 
574 tons. The Reading Railroad shipment for 
last week, ending February 4, was 157,000 tons, 
of which 16,800 tons were sent to and 13,300 
tons shipped from Port Richmond, and 22,000 
tons sent to and 16,800 tons shipped from Eliz- 
abethport. — Phil. Ledger, Feb. 6. 



ORGANIZATION. 



The officers of the Union Canal Company are: 
President— Grant Weidman. Managers— Fred- 
erick Fraley, Charles M. Bayard, George DeB. 
Keim and Thomas C. Zulick. Secretary and 
Treasurer — George S. Bowman. 

The directors of the Pittsfield and North 
Adams Railroad Company, elected on the 8th 
Inst., are: C. W. Chapin, of Springfield ; Henry 
Colt, of Pittsfield ; Edward Jackson, Frank H. 
Appelton, and Ignatius Sargent, Jr., of Boston. 

The following gentlemen were elected direc- 
tors of the Providence and Worcester Railroad 
Company on the 6th inst. : George A. Leete, 
Wm. S. Slater, Paul Whiton, Gideon L. Spen- 
cer, Elijah B. Stoddard, Lyman A. Cook, Moses 
B. Goddard, Amos D. Lockwood, Frederick 
Grinnell, Joseph E. Davis, John Dean, Oscar 
J. Rathbun, David K. Phillips, Josiah Lasell. 

At the annual meeting of stockholders of the 
Huntingdon and Broad Top Mountain Railroad 
Company on the 7th inst. , the following board 
of directors was elected : B. Andrews Knight, 
president ; Rathmell Wilson, John Devereux, 
I. V. Williamson, James Long, James Whittaker, 
Joseph H. Trotter, William P. Jenks, C. W. 
Wharton, Samuel Field, Thomas R. Patton, 
Jacob Naylor and Spencer M. Janney. 

At the annual election for directors of the 
Guarantee Company of North America, held 
in Montreal, Canada, on the 3d inst., the fol- 
lowing gentlemen were were chosen: Sir A. T. 
Gralt, the Hon. James Ferrier, John Rankin, D. 
Lorn McDougall, W. J. Buchanan, Edward Raw- 
lings, John Paton, of New York, John L. 
Blaikie, of Toronto, and James G. Ross, of 
Quebec. 

The directors of the Boston, Barre and Gard- 
ner Railroad Company, elected on the 1st inst., 
are : Levi Heywood, of Gardner, Mass. ; Calvin 
Foster, H. M. Witter and William W. Rice, of 
of Worcester, Charles Heywood, of Gardner ; 
Nelson D. White, of Winchendon, Stephen 
Salisbury, Jr., A. George Bullock, Wm. H. 
Morse, E. B. Stoddard and Samuel R. Hey- 
wood, of Worcester. President George S. Bar- 
ton declined a re-election. I } 

The stockholders of the Columbus and Xenia 
Railroad Company have elected the following 
directors : J. R. Swan, John W. Andrews, B. 
A. Harrison, Robert Neil, P, W. Huntington, 
George M. Parsons, Alfred Thomas, Robert S. 
Smith, Henry Hanna, C. P. Cassilly and Thos. 
D. Messier. The directors organized by elect- 
ing J. R. Swan president, and Robert S. Smith 
secretary and treasurer. 

At the recent annual meeting of the New 
London, Conn., Northern Railroad Company, 



held in New London, the following were elected 
directors for the ensuing year : William W. 
Billings, New London ; William H. Barnes, 
New London ; Benjamin Stark, New London ; 
Augustus Brandegree, New London ; Robert 
Cott, New London ; J. N. Harris, New London ; 
Thomas Ramsdell, Windham ; C. H. Osgood, 
Norwich ; William Allen Butler, New York ; 
William H. Hill, Boston ; James A. Rumrill, 
Springfield, Maes. At a subsequent meeting 
of the directors the following officers were 
chosen : President and Treasurer, Robert Coit, 
New London ; secretary, J. A. Southard, New 
London. 



Psalm of Marriage. 



Tell me not in idle jingle, 
" Marriage is an empty dream," 

For the girl is dead that's single. 
And girls are not what they seem. 

Life IB real. Life is earnest. 

Single blessedness a fib. 
"Man thou art, to man returnest," 

Has been spoken of the rib. 

Not enjoyment and not sorrow 

Is our destined end or way. 
But to act that each to-morrow 

Finds us nearer marriage-day. 

Life is long, and youth is fleeting, 
And our hearts though light and gay, 

Still like pleasant drums are beating 
Wedding marches all the way. 

In the world's broad field of battle. 

In the bivouac of life. 
Be not like dumb driven cattle. 

Be a heroine — a wife. 

Trust no future, howe'er pleasant, 
Let the dead past bury its dead. 

Act — act to the living present. 
Heart within and hope ahead. 

Lives of married folks reminds us 
We can live our lives as well, 

And departing, leave behind us. 
Such examples as shall " tell," 

Such examples that another. 

Wasting time in idle sport, 
A forlorn, unmarried brother. 

Seeing, shall take heart and court. 

Let us then be up and doing. 
With a heart on triumph set. 

Still contriving, still pursuing. 
And each one a husband get. 



Without Capital,. — It is bad beginning busi- 
ness without capital. It is hard marketing with 
empty pockets. We want a nest-egg, for hens 
will lay where there are eggs already. It is 
true you must bake with the flour you have ; 
but if the sack is empty, it might be quite as 
well not to set up for a baker. Making bricks 
without straw is easy enough, compared with 
making money when you have none to start 
with. You, young gentlemen, stay as a jour- 
neyman a little long6r, till you have saved a 
few pounds ; fly when your wings have got 
feathers ; but if you try it too soon, you will 
be like the young rook that broke its neck 
through trying to fly before it was fledged. 
Every minnow wants to be a whale, but it is 
prudent to be a little fish while you have but 
little water ; when your pond becomes the sea, 
then swell as much as you like. Trading with- 
out capital is like building a house without 
bricks, making a fire without sticks, burning 
candles without wicks; it leads men into tricks, 



and lands them in a fix. — John Ploughman 

{Spurgeon). . ^' . 1" 

^ — 

The Philadelphia Press advises railroads to 
look for trainmen in the South, because there 
is no color blindness there. 



Among all animals man is the only one who 
tries to pass for more than he is, and so in- 
volves himself in the condemnation of seeming 
less. 



A COCKNEY inquired at the post office the 
other day for a letter for "'Enery Hogden." 
He was told there was none. "Look 'ere," he 
replied angrily, "you've examined a hodd let- 
ter for my name ; it don't commence with a 
haitch ; it begins with a ho. Look in the ole 
that's got the ho' s. "I 



A stbeet-cab conductor carelessly carried his 
bell-punch home, and allowed his children to 
play with it. The next day, when the company 
informed him that he was nine million, nine 
hundred and ninety-nine fares short, his hair 
rose so rapidly that his hat, in banging against 
the ceiling, broke out fifteen yards of plaster. 



The nail mills comprise the chief industry 
of Wheeling, W. Va. Seven of these mills have 
an aggregate capital stock of $3,260,000, and 
these seven mills earned and paid dividends 
during the past year aggregating $712,000, or 
about 23 per cent. At the same time the stock 
in these mills has largely appreciated in value. 

Gentleman meets a friend and takes him 
home to dinner. Arriving at the house he 
leaves him in the sitting room to announce the 
fact to his wife. The friend, hearing directly 
a clamor of tongues in the adjoining room, dec- 
orates the keyhole with his ear. Shrill Voice — 
'* Always the way, bringing people home with- 
out a minute's warning ! Him, too ! Why 
couldn't you leave him to batten on his usual 
free-lunch route?" Hoarse Voice — "Ssh!" 
Shrill Voice — "I won't ssh !" Hoarse Voice — 
"I tell you you will. Oh, if he wasn't in the 

room outside, wouldn't I just give you " 

The friend, shouting through the keyhole — " I 
ain't here any longer ; give it to her." (Exit, 
slamming the door. ) 



Woke Up The Wrong Man. 

The commercial traveler of a Philadelphia 
house, while in Tennessee, approached a 
stranger as the train was about to start and 
said : 

"Are you going on this train ?" 
"lam." j 

" Have you any baggage ?" j 

"No." ^ ■ ■• 

"Well, my friend, you can do me a favor, 
and it won't cost you anything. You see, I've 
two rousing big trunks, and they always make 
me pay extra for one of them. You can get 
one checked on your ticket, and we'll euchre 
them. See ?" 

" Yes, I see ; but I haven't any ticket." 
"But I thought you said you were going on 
this train?" i 

"So I am ; I'm the conductor." [ 

"Oh!" 
He paid extra, as usual. 



.^-:i.-. 



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AMERICAN RAILROAD JOURNAL. 



T HB LAKE SHORE AND MICHIGAN SOUTH- 
ERN RAILWAY COMPANY, 

Trbasureb'i Ofpicb, Grand Central Depot, 
New York, December 33d, 1881. 

. The Board of Directors of this company hav*» this 
Iday declared a QUARTERLY DIVIDEND of TWO 
Iper cent upon its capital stock, payable on WEDNES- 
IDAY, the first day ef February next at this office. 
I The transfer books will be closed at 3 o'clock P. 
|M. on Saturday, the 3lst instant, and will be re- 
lopened on the morning of Saturday, the fourth day of 
■February next. 

E. D. WORCESTER, Treasurer. 



THE PKBPECTED 

B E M I N G TON 




^HE THIRTY-NINTH SEMI-ANNUAL CASH DIVI- 
,^ dend of the ILLINOIS CENTRAL RAILROAD 
IcOMPANY, being three and a half (3>i) per cent on Its 
Icapital stock, will be paid by the undersigned March 1. 
11882, to shareholders as registered at the close of busi- 
Iness on the 11th of February, after which and until the 
Uth day of March the transfer-books will be closed. 

L, V. F. RANDOLPH, Treasurer. 



FOR SALE. 



[Six new 3ft. Gauge Locomotives, 18 to 24 tons, June, 

I July and August delivery. 

[Ten new 4ft. 8>^in. or 5ft. Gauge Locomotives, June, 

I July, and August delivery. 

[Two new Ladder Tank Locomotives, 3ft. Gauge, 10 tons, 

I May and June delivery. 

Isecond-hand Standard Gauge Locomotives and Pas- 
senger Cars, immediate delivery, 

JNew Box, Flat, and Gondola Cars, 4ft. 8>^in. and 3ft. 
Gauge, for immediate delivery. 

iNew Passenger and Combination Cars, 3ft. Gauge, de- 

I livery 30 days. 

[New Passenger and Combination Cars 4ft. Si^in. Gauge, 
delivery 60 days. 

■ New Car Wheels, Iron and Steel Rails. 
Narrow-Qauge Rolling stock a specialty. 

BARROWS & CO., 

e4 BrocLci-weiy, 

NEW YOBK. 



TYPE-WRITER. 

A. "WBITINQ - MACHOTE wh.icli combh 
ea^e -with rapidity and accuracy, 
and economy with elegance . 
and convenience. 

Adapted to general use. Every maclii^« 
guaranteed. 

Send for Circulars with names and testimonials 
recent patrons. 

E. BEMBTON & SONS, 

281 and 283 Broadway, New York. 
38 Madison Street, Chicago. 
124 South Tth Street, Philadelphia. 
9 1 South Howard St., Baltimore. 

[Mention this paper.] 

D. N. BEARDSLEY & CO., 

MANUFACTURERS OF 

Superior Oak and Ctiestnnt Lmnlier, 

AND RAILROAD TIES. 

OaJs Osir TiixiToer a, Specialt^r- 

OPFICE : 9 MUBRAY ST., 

NEW YORK. 



HOME 

--"-.■■■-"■ ,.' 1 r .-,■-■■ ■■ ■ ■ 

INSURANCE COMPANY OF NEW YORK, 

OFFICE: NO. i 19 BROADWAY. 



FIFTY-SEVENTH SEMI-AIOTUAL STATEMENT, 
'Sliowing OoxKditioxi of tlie Oorxipebny on tlie 1st ciety of 



,; CASH CAPITAL $3,000,000 00 

:S Reserve for Unpaid Premiums 1,943,733 00 

; Reserve for Unpaid Losses 245,595 36 

^ Net Surplus 1,806,180 90 

I 

I CASH ASSETS $6,995,509 26 



Summary of Assets 

Held in the United States available for the PAYMENT 

of LOSSES by FIBE, and for the protection of Policy 

Holders of FIRE INSURANCE. 

Cash in Banks $ 130,172 31 

Bonds and Mortgages, being first lien on 

Real Estate [worth $3,600,750] 1,565,868 00 

United States Stocks [market value] 4.079,500 00 

Bank and Railroad Stocks and Bonds [mar- 
ket value 664,625 00 

State and Municipal Bonds [market value] . 121.750 00 
Loans on Stocks, payable on demand [mar- 
ket value of Collaterals. $341.507.50 229,750 00 

Interest due on 1st January, 1882 85,819 19 

Premiums uncollected and in hands of 

Agents 80.635 08 

RealEstate 47,399 68 

Total ..$6,995,509 26 



J. H. WASHBURN, Secretary. 
T. B. GREENE, 
W. H. BIGELOW, 



!■ Ass't See's. 



CHAS. J. MARTIN, President. 

A. F. WILMARTH, Hce-Pres'f. 

D. A .HEALD, 2d Vice-PresX 



Interest allowed on Deposits subject 
to Draft. Securities, &c., bought and 
sold on Commission. 

,. Investment Securities always on hand. 

ALOWZO FOLLETT, 



Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A L 

Paine, Webber & Co., 

Bankers and Brokers, 

No. 53 Devonshire St., Boston. 

, lMember$ of the Botton Stock Exchange.) 

DeTote special attention to the purchase and sal* of 
Stocks and Bonds in the Boston market, the careful se- 
lection of securities for inrestment, and the negotiation 
of commercial paper. 

Wk. a. Paine. Wau^ace G. Webbeb. C. H. Pahcb. 

John H. Davis & Co., 

■ BANKERS AND BROKERS, 

No. IT Wall St., New York. 

Interest allowed on temporary and standing deposits, 
stocks and Bonds bought and sold on Commission only, 
either on Margin or for Inrestment. > 

Brown, Brothers & Co., 

No. 59 Wau Stieet, New Toil, 



^AJl^TOr'S 



— BUT AND SELL — 
— ON — 

&BEAT BRITAIN, IRELAND, FRANCE, GERMANY, 
BELGIUM. AND HOLLAND. 



Issue Cdmmercial and Travelers' Credits in Sterling, 

AVAILABLE IN AlHT PART OF THE WORLD, AND IN 
FRANCS IN MARTINIQUE AND GUADALOUPE. 

Make Teleobafhic Tbansfebs of Monet between this 
and other countries, through London and Paris. .. 



Make Collections of Drafts drawn abroad on all points 
tn the United States and Canada, and of drafts drawn In 
the United States on Foreign C<»uitriei. 




BABCOCK 

EITIMnirHER. 



ASeiitiDclthatNe?er Sleeps 

SIMPLE ! 

EFFECTIVE! 

DURABLE! 
8. P. HAYWARD, 

GENERAL AGENT. 
407 Broadway, N. Y. 



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AMERICAN RAILROAD JOURNAL 



. OFFICE OI^ i 

AMERICAN 



REFRI&ERATOR 

, ^ LINE, i 

New York, Oct., 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 
sential Oils, Mineral Waters, 
Lager Beer, Ales and Porters, 
Oysters, or, in f^ct, any class ot 
goods that needs protection 

from heat or cold while in tran- 

I ■ ■ 

sit to the West and Southwest, 
either in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 




Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonabl* 
j Prices by the . 

HARLAN A. H4>L.L.IIVG§ WORTH CO., Wilmington, Del. 



FARDEE CAR WORKS. 



WATSONTOWN, PA. 





PROPRIETORS. 

SuCa.xiuflELOt'urers of 

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, Coal, Mine, and Hand Cars ; 

Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables; 

Car Castings, Railroad Forgings, RoUing-Mill Castings, 
\ \ Bridge Bolts and Castings. 

jyW* haT«, in ceanection with our Car Works, an extensire Foundry and MaehiB*-shop, aad ar* pr«parfl«[ 
M do a general Machine Business. 

Chairman, Treasurer and General Manager, Secretary, 

AJUO PAKDEE. H. F. SNYDER. N. IjEISEB. 
NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY. 

C. W. LEAVITT. Agent. I 



BEPBIGEMTOB TRANSIT COMl 



Guaranteed Bills of Ladins: 
giren. I ! t 

Time as quick and rates as 
loiv as by any first class fast 
freight line l i i 

JCy Sl^^P from New York via 
N. T. C. and H. K. .K B., St. 
John^s Park ; from Boston Tia 
Boston and Albany It. K. 



For rates and information apply to 

FRED'K I. EVANS, 

General Eastern Agent. 



92 Wall Street, - New York. 

271 Broadway, New York, ;, 

232 Waihinsrton Street, Boston. 



m mi uu E RIE, m w estem baiiwai. 

I TO THE] TR.-A.VEJXjIN'O FXJBIjIO. 1 

During the Centennial season— six months closing September 10, 1876— the Erie Railway cairisd almost 
riBU MILLION passengers, without a singe accident to life or limb, or the loss of a piece of baggag •. 

4 T>^*^ '*"^ * whole year the official records of the United States Post Office Department show the sr rirals of 
^ -le Railway trains in New York, on time, to be from 15 to 27 per cent ahead of competi^g line*. 

Facts well worthy the consideration of traTeleri. ' 



X. S. BO WEN, GtntreU SuperinimdetU. 



JNO. N. ABBOa*r, Cftn. hK»»tn§mr Ag€»L 



Bailioad 




1 



Track Scales. 



RIEHLB BROS. 

STANDARD 






AND 

TESTING 

MACHINES 





PHILADBLPHIA, 
50 Sontb 4th St. 

NBW YORK, 
115 Liberty Street. 

PITTSBUaGH, 
liibsrtj St. cor. 7tb At. 

609^North 3d Street 

NBIV ORIiBANS, 
14*^ ^OraTler Street 



I ; J THE ROGERS 

LOCOMOTIVE MD MACHINE WORKS, 

Feuterson, IN". J. 

HaTing extensive facilities, we are now prepared U 
tumisb promptly, of the best and most approred de 
scriptiou, either 

COALi OR IVOOD BURNING 

;LiOOOI^OTI'VHi EN-CHITEIS, 

AND OTHIB VAMETIIS OF 

RAILROAD IVIA€HIN£RY. 



J. 8. ROGBRS, PreiH. 
R. 8. HVOHBS, See 
WBI. 8. HUDSON 



YWt. \ 

lec% I 



Pat«r«oiB, N. J. 



44 Bzehuag* Piaeei Hew York. 



>-vj*j:-*i.Ji^ 



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7 £Z E3 



GORDON & DUGGAN 

RAILWAY SWITCH. 



The Standard on several and in use on 
twenty-five Railroads. ] 

Combines Safety, Durability, Simplicity, 
and Iiow Cost, with Fixed Rails. 

The only movable piece weighs 375 lbs. 
and is without a bolt or rivet. j 

E. GORDON, Treasurer, 

No. 28 State Stbket, Boston, Mass. 



::l:- 



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AMERICAN RAILROAD JOURNAL. 



93 




VALENTINE'S VARNISHES 

AXE ON SALE IN THE FOLLOWINe CODNTRIES : 



ENGLAND. 



FRANCE. 

GERMANY. 

AUSTRIA. 
^PAIN, 



SWITZERLAND. 



ITALY. 



HOLLAND. 



^iCOTLAND. 



RUSSIA. 



INDIA. 



AUSTRALIA. 



SOUTH AMERICA. 



NEW Zl!.ALAND. 



MEXICO. 



CUBA 



VALENTINE & COMPANY, 

COACH AND CAR VARNISHES, 



BAMES VACVniA BRAKE CO. 



3 



■>. O. B«x !I,!!T8. 



RAILWAY TRAIN BRAK ES, 

SAI.es office. 15 OOLD ST., W. Y. Repr«'seiited by THOS. PROSSEK A SOW. 



The EAMES VACUUM BRAES is confidently offered as the most efficient, simple, durable and cheapest Power Brake in the 
market. It ean be seen in operation uponlover seventy roads. 



'I'tfit • fttj-f ^•■•"n*iiihn(''A^*'^i'i jj fttf'iViii n"' ti ^^ 



•iK .»?- <_i;:.:-..l -»■■;• i*^^.: . i 4fr\,^^^ '-A*.'..*.d"-.\J. :ki 






94 



.^^^ .m-iiijujfc. »ii)HP,v'!W»l' 



AMERICAN RAILROAD JOURNAL. 



WATER TUBE STEAM BOILERS. 




THE BABCOCK & WILCOX CO., 

SO Cortlaxicit St, N'o-w "Yorls.. 
116 James Street, Glasgow. 

JOHN STEPHENSOlTcoi. 

[Limited.] 



■irrrTfji-Trxti 






»"«j*Wiliiiili. 



NEW YORK. 1 V 

■ . ■ ' ♦ ■ 

Superior Elegance, Lightness and Du- 
rability. The result of 50 years' experi 

ence. 

Adapted to all countries and climates. 
Combining all valuable improvements 
Shipped to Poreign Parts with greatest 
care, and at most favorable rates. I 



flOUSATONIG RAILROAD 

_ ^ 

THE ONLY LINE RUNNING "[ 

T H: I^ O TJ C3- EC C-A-IlrS 

Between New York, Great Barrington, Stockbridge, Len- 
ox, and Pittafleld — the fer-famed resort of the i- 

Berkshire Hills 

of Western Massaohusetta — the "Switzerland of America.- 
Two through trains daily between New York City an. 
' all points on the Housatonic Railroad, from the Granc 
Central Depot via the New York. New Haven, and Hart 
ford Railroad at 8:05 A. M. and 3:43 P. M. 

Descriptive Guide Book sent free upon application to 
the General Ticket Agent. 

H. D. AVERILIj, Gen'l Ticktt Agent. 
L. B. STIIiLSON, SuperinUndent. 
^Oeneral Offices, Bridgeport, Ct. January 2, 1882. 





^GlNEERS.Mechanics.MillOwners.Builders.Mana- 
lfactarers,Minws,Merchant8,Ac.,willfindinMooBE's 

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In effiect January 9tb, 1889t and aalUect to changes. 






H'^aiUiJClii.JtLi^^ 



>.L^iiSjhA't^f.^^i-\'C^ •C^nj^krx^A.'^Jzmi 



AMERICAN RAILROAD JOURNAL. 



95 



E. W. Vandkhbilt. 



£. M. HOFKINB. 



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AMERICAN RAILIIOAD JOURNAL. 




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m 



nuntat 



[STAiLISHES 1831. 



steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



Sbcond Quabto Skbies.— Vol. XXXVlll., No. 7.] 



NEW YORK, FEBRUARY 18, 1882. 



[Whole No. 2,391.— Vol. LV. 



The Sha^v Locomotive. 



finest mechanical calciilation ; but all of them I double track and thus wiU be able to do much 
have been unsuccessful. more business than is done by the Victoria 

This locomotive is built for fast running, Bridge. Now, I have often been compeUed to 
and it is claimed that there is an increase in the wait at St. Lambert for a couple of hours be- 
area of wearing surfaces, perfect balancing of fore we could get into Montreal, owing to the 
the revolving parts, due to dividing the work crowded state of traffic over Victoria Bridge. 



The Hinkley Locomotive Works, of Boston, 
Mass., have lately built a locomotive after the 
designs of Henry F. Shaw, of Roxbury, Mass., 
intended to obviate those strains on the frame 

of the ordinary locomotive that are caused by I ^jg^^gen four steam cylinders. One of the re- 1 For all that, I believe that we will not interfere 
the alternating thrusts of the unbalanced mov- jj^^rkable tests that have been applied to this with the G. T. Railway business, because by 
ing parts on each side of the machine. The locomotive is to place it on four jack screws the time we have our tunnel completed there 
impulse of the change of direction of the heavy ^^^ elevate it clear of the track, and then to will be traffic enough for both of our routes." 
side of wheel, etc., is in a " fore-and-a^ " direc- ^^^^ ^-^^ throttle valve and run the engine at a "When do you expect to have the work fin- 
tion on one side of the engine, while it is verti- gpgg^ of ^^o hundred and seventy-five revolu- ished?" 

cal, either upward or downward, as the case Lj^j^g p^j. j^^j^^te in this position without dis- "In 1885 we hope to have trains running 
may be, on the other side at the same instant, Curbing it, while an ordinary locomotive in this through. In general I believe that tunnels are 
the former tending to rack the frame and the position would be disturbed at thi'ee revolu- 
lattercauselateraloscillations, which it actually L^Qj^g pg J. jj^jjj^^Q t - - 

does, more or less, to the great damage of the ,. The time made between Camden and Atlantic 
road bed. The effect is far greater if the en- ^as'seventy-seven minutes, which included two 



gine is rocking from side to side than what 
would be due to the simple impulse of the pre- 
ponderating weight jot the reciprocating and 
revolving parts. The plan of the Shaw loco- 
motive is to place a duplicate set of revolving 
and reciprocating parts on either side of the 
engine, so connected that one set on each side 
will be thrusting in the same direction at the 
same instant, and thus tend to correct this 
hitherto unavoidable objection to outside cyl- 
inder locomotives. 

A trial trip was recently made with this new 
machine on the Camden and Atlantic railroad. 
The Philadelphia Inquirer gives the following 
as the dimensions of the four cylinders, etc. : 
They are, "10^ inches in diameter, 24 inches 
stroke, equal to a 14:|x24 of the ordinary loco- 
motive. The cylinders are placed side by side 
in the same place. Four cylinders are contain- 
ed within two castings, and do not increase the 
width of the locomotive as much as might at 
first be supposed. '••;;' z -■■';■,. :■'-■ 

"One slide valve admits and exhausts steam 
to and from each pair of cylinders, which are 
placed side by side ; the valves are operated by 
the usual link motion and rock arm (as is cus- 
tomary upon ordinary locomotives), thus avoid- 
ing the complication that would arise from 
the use of a separate slide valve for each 
cylinder. This engine, when running, cannot 
be distinguished from the ordinary locomotive 
having only two cylinders, as the steam is 
taken and exhausted from the opposite ends 
of two cylinders simultaneously. ••;,>/ 

"Many experiments have been made in bal- 
ancing, reciprocating with rotating parts to run 
steadily with each other, on locomotive engines. 



stoppages of six minutes at Egg Harbor and 
Absecom, the actual running time being sev- 
enty-one minutes. The fastest mile was made 
in fifty-eight seconds, and two consecutive 
miles, each fifty-nine seconds, three cars on 
the train." 



Tunnelling the St. Ijawrenee. 



OuB reporter met Mr. Rouillard, the con- 
tractor for the construction of the Hochelaga 
tunnel, and in answer to enquiry learned ttat 
he is now progressing with the work of organ- 
izing his staff, so that he will be able to pro- 
ceed with the work as soon as he can comply 
with legal forms for expropriating property. He 
has had considerable experience in tunnelling, 
as a mining engineer principally, and has 
gained much experience in the Rocky Moun- 
tain region. The Comstock mining tunnel, 
sunk to a depth of five miles, he is well ac- 
quainted with, havii^ been engaged there upon 
the work for some time. He sees no difficulty 
now in the way of successfully tunnelling the 
bed of the St. Lawrence, as they will be cutting 
through Utica shale all or nearly all the way. 

"Is the danger of tunnellii^ as great as that 
of bridge making ?" .■;;!.-; J '^ 

' ' I think not. Just think how many were 
killed in making the Victoria Bridge before it 
was finally completed." 

" There were a good many killed in the New 
York tunnel?" 

" Yes, but that is a much more difficult work 
than cutting through rock. I believe that there 
are fewer accidents in tunnels than upon rail- 



way bridges. You rarely ever hear of trains 
as they are now built, involving some of the I coming together in tunnels. We will have a 



cheaper than bridges in the long run, and I be- 
lieve that in the case of our tunnel we are 
specially fortunate in that respect. If we do 
one quarter of the business done by the Grand 
Trunk at five dollars a car, we will pay eight 
per cent on a capital of four million. That, 
however, is a matter I have no concern with, 
as I am not fortunate enough to hold the stock 
of the road. I am the contracting engineer ; 
Mr. Walter Shanly is the Company's engineer. 
He, as you are aware, is a gentleman who has 
had a great deal to do with tunnels." 

"How does your work comp«u*e with the 
Hoosac tunnel as to difficulty ?" 

"There is no comparison. That tunnel is 
much longer, and great difficulties were met 
with. They worked the tunnel from different 
shafts let into the mountain, while we will 
work both ends, knowing precisely what we 
have to do — so far as can be known. Besides, 
we have the benefit of the experience of that 
and other works. In case of accident, we can 
foresee it and provide against it. For example, 
if we feel a general dampness in the wall in 
which we are working, we use the compressed 
air, which excludes or rather offers a rr sistance 
to the outer pressure until we are able to pro- 
vide the remedy. In case we strike a fissure, 
we are warned by keeping a drill always run- 
ning several feet in advance of the workers. 
The spirt of the water through this hole would 
warn us, and then the compressed air would be 
our protection again." i ' > '-^Vj i. 

" Did they not have these appliances in New 
York?" 

" Yes ; but they did not keep building the 
supports quite close enough to the roof and 
sides of the tunnel. This should always be 
done. In fact they should keep a little ahead 
of the excavation, as can easily be done by 
boring around the sides and building close up 
to it." 



>!' 



■■.4-: 



98 



i.-—^4 



AMERICAN RAILROAD JOURNAL. 



"Have they never had accidents in the 
Thames tunnel ?" ,44 

' ' Yes ; they had an accident there and great 
loss of life at one time — caused, I think, by a 
vessel dropping her anchor above the tunnel. 
Nothing has since happened, and that tunnel 
has been in use more than half a century. We 
will likely have no trouble of that kind." 

In concluding, Mr. Robillard said he did not 
quite know where they were to locate the en- 
trance and exit of the tunnel, but hoped to meet 
the press men in 1885 in the centre of the tun- 
nel under the bed of the St. Lawrence to cele- 
brate a completed work. — Montreal ^a'dy Wit- 
ness, ' I 

An Odious Monopoly in Danger. 



Unless all signs fail, the lunch-basket will 
soon cease to be the indispensable companion 
of the trip between New York and Boston. The 
journey now consuming seven hours will be 
done with ease in four. For this no thanks 
will be due to the New York, New Haven and 
Hartford and connecting lines. No one ever 
had occasion to thank that monopoly for any- 
thing. Owning the only rail route between the 
two cities, its sole aim is the extraction of the 
largest amount of money for the least service 
from persons unfortunately compelled to pat- 
ronize it. At a time when all enterprising rail- 
road companies are quickening their speed, 
this monopoly jogs along at the old gait of thir- 
ty to thirty-four miles an hour —the latter being 
its ' ' lightning" pace. The Pennsylvania trans- 
ports New Yorkers to Philadelphia in two hours 
or less — at the rate of forty-five mile^ an hour. 
Daily trains are whirled from New York to 
Chicago (about one thousand miles) in twenty- 
six hours, or thirty-eight miles an hour. It 
remains for one of the richest railroad lines in 
the world to keep up its old, slow style and 
penurious habits and dilapidated rolling-stock, 
with the same sublime indifference to modern 
improvements that it shows to the comfort of 
passengers. 

A dining or restaurant car attached to the 
express trains would be an immense conven- 
ience, enabling passengers to dispense with the 
primitive and clumsy lunch-basket or saving 
them the necessity of bolting an indigestible 
apology for a meal at New Haven, Springfield, 
or some other point in five or ten minutes of 
stoppage. Two great and rich cities support 
this monopoly. All they have ever asked in 
return for the high fares is a sufficiency of ac- 
commodations—either a speed high enough to 
reduce the trip to four or five hours, or proper 
facilities for breaking the seven hours' fast on 
board. But the line denies everything to its 
patrons, studying its own views of self inter- 
est first, last and always. Not the least of the 
popular objection to it is the rate of fare 
charged. It costs $5 to go from New York to 
Boston, without the privilege of stopping over 
anywhere. Last summer trains were run from 
Chicago to Boston via the Grand Trunk at $5 
a head, and the combination of lines concerned 
made money at it. But the New York, New 
Haven and Hartford and its allies have been 
under no competition save from the Sound 
steamers, and can charge almost what they 
please A competing all-rail route is needed to 

:,-.X, ■■.:.= : .:>■.■■):■.■:'--- 



bring down the faros to their proper limits and 
to make a veteran monopoly less offensive in 
other respects. We ai-e happy to say that there 
is a rod in pickle for it. Long-suffering Bos- 
ton, less patient than New York under griev- 
ances, is undertaking to provide one want of 
the times — a really first-class, literally fast-rail 
communication between the two cities. Bos- 
ton has plenty of spare capital, and has been 
fortunate in most of her railroad investments. 
She is not frightened by the $45,000,000 or 
$50,000,000 that may be needed to build the 
air-line, which alone will satisfy her. Beason- 
able prospects of a fair return of her money is 
all she asks or expects. The promoters of the 
scheme are not without good ailments. They 
claim that there is business enough between 
New York and Boston for the exclusive support 
of an air-line that would have no stopping 
places (for express trains) from end to end. 
The distance, as the crow flies, is but little over 
170 miles. This could be traversed in four 
hours' at less than forty-five miles an hour. 
The present rail distance is 233 miles. It is 
evident that the rival line would have an enor- 
mous advantage over the old concern. It is 
possible for even despots to confer benefits on 
civilization — as when the Russian Czar marked 
out with a ruler and pencil the present railroad 
route between St. Petersburg and Moscow. 
New York and Boston will feel much obliged 
to any power in this republican country strong 
enough to lay down a straight rail line from 
one city to the other, and by this means give a 
needed lesson to a monopoly which is a dis- 
grace to the age and a standing reproach to 
Yankee enterprise !— iV. T. Journal of Cmnmerce. 



Safety from Fire in Cars. 



ADMIRABTiK SYSTEMS OF LIGHTING AND BIATINO 
. i . j .' ,, " A TRAIN. ^ ■■' .. 

BAiiiitoAD companies will suffer until their 
trains are rendered absolutely safe against fire. 
The first serious attempt of this kind is likely 
to be made by the Boston and Providence and 
the Stonington railroad companies, who are 
considering the adoption of the Graydon Safety 
Heater on the well known steamboat train be- 
tween Stonington and Boston. It consists in 
taking steam from the engine, passing it around 
the train and back into the water-tank in the 
tender. The heater acts automatically, keep- 
ing an even, pleasant heat, and, of course, it 
can set nothing on fire. Neither can it by any 
possibility scald any one, no matter how severe 
or sudden may be an accident; it cannot be in- 
terfered with by the train being snowed up or 
thrown off the track, even though its fuel should 
run low. It costs less than $40 to put it into a 
car, about $10 to put the necessary attachment 
to a locomotive, and less than $90 for each bag- 
gage car. There is absolutely no expense for 
heat, since the exhaust steam can be used, or 
the " blow-off," without taking any efficient 
force from the engine ; moreover, it heats the 
feed water to a temperature of more than 100 
degrees, so that warm water is pumped into 
the boiler instead of cold. Its cheapness, econ- 
omy, simplicity, durability, and above all, its 
absolute safety, make it the heater, above all 
others, that will satisfy the public and the rail- 
road companies, for it is the only one that takes 

I 



steam from the engine successfully. 

But even though the stoves in each car were 
dispensed with, the lamps would still be grave 
sources of danger ; and as light is as essential 
as heat, no train can be considered absolutely 
safe until this difficulty is overcome by a safety 
contrivance. This contrivance has been found 
in the Pintsch system of lighting by gas. This 
gas is supplied from a reservoir on the top of 
the car, where it is stored under a pressure of 
about six or seven atmospheres. It is prepared 
by a special process which secures a large pro- 
portion of carbon, producing a very white light, 
and it does not condense and clog under pres- 
sure as ordinary gas would. An automatic 
valve regulates the pressure and the flow, so 
that no ordinary biimp, or shock, or jolting, 
interferes in the slightest with the steadiness 
of the light. :^ ••- -' •• /i" .' ' .'V /'.. 

This system is in use in Germany and in 
England, where the writer has seen it in con- 
stant operation for months on all the trains of 
the Metropolitan (underground) railway in Lon- 
don. No one can fail to be struck by its bright- 
ness and steadiness, and the finest print can be 
read anywhere in these cars. It is also abso- 
lutely impossible for a train to take fire from it. 
Any shock that would break the lamps would 
instantly extinguish the light, as it is one of 
the peculiarities of gas that every burner with- 
in the influence of such a shock is put out in- 
stantaneously. Also it could not again become 
ignited, because the pipes being broken the 
small amount of gas in each car would dissi- 
pate itself in the atmosphere within less than 
half a minute. And as the reservoirs are on 
the top of the car, the gas will ascend in case 
of accident. — Providence Press.' ■'■ 1 \-- " ' 



A New Railroad FoUcy in Philadelphia. 



The annexed editor^^l paragraph from the 
Philadelphia North American marks a new de- 
parture with the journals of that city on the 
railroad question — as they have hitherto either 
advocated the plan or silently acquiesced in it, 
of repressing all efforts made by the trunk lines 
to enter that city. The editor says : 

"Philadelphia is so largely indebted to the 
Pennsylvania Bailroad Company for what it has 
done on behalf of the city, that those obligations 

ought always to be remembered with respect 
and esteem. But now that the company has 
acquired such immense interests in New York 
and Baltimore, it is the dictate of reason and 
common sense that the city should take care of 
her own commercial interests by obtaining as 
many trunk-line tributaries as possible. In 
doing this the city will be merely imitating the 
example set by the company itself. We nave 
abundance of capital to secure such tributaries 
and competing lines, and we should lose no 
time in making that capital tell effectually." 

— ^ ^ 

The Virginia and Kentucky and the Rich- 
mond and Southwestern Bailroad Companies 
have been consolidated under the name of the 
Bichmond and Louisville Bailroad Company, 
Gen. J. L. Meigs of Boston is president, and 
W. H. Curtis secretary. The directors are : 
Franklin E. Gregory, of Boston; Wm. E. Peery, 
of Tazewell, county, Va. ; Gren. G. C. Whar- 
ton, of New Biver, Va. ; John P. Poe, of Bal- 
timore; T. A. Lambert, of Washington, D. 0. ; 
and Charles Payson, of New York. Gen. G. C. 
Wharton is chief engineer of the road. The 
office of the com -^any is at Alexandria, Va. 



AMERICAN RAILROAD JOURNAL, 



d9 



PUBLISHED WEEKLY BY THE 

AMEBIC AN RAILBOAD JOURNAIj CO., 
284 Pearl St., cor. Beekman, New York. 

Subscription, per annnm, in advance . . .'. $5 00 

Foreign Subscription, including postage 6 00 

Subscribers are requested to report to our office any 
irregularity in receiving the Jodbnal. 

Contributed articles relating to Railroad matters gen- 
erally, Mining interests, Banking and Financial items. 
Agricultural development, and Manufacturing news, by 
those who are familiar with these subjects, are especial- 
ly desired. 

Payments for advertising and subscriptions should be 
made by check payable to order of the Treasurer. 



Mr. Fredebic Ajwjab, Nos. 11 and 12 Clements Lane, 
Lombard Street, London. E. C, England, is the author- 
ized European Agent for the Jottrnal. 



At the annual meeting of the Ameeican Railboad 
JouBNAL Co., held at the office of the Company, No. 284 
Pearl street. New York, February 8, the following offi- 
cers were elected : 

GEO. F. SWAIN. President. 

S. PBOCTOR THAYER, Vice-President. 

EDW. A. WRIGHT, Treasurer, 

CHAS. T. VALENTINE, Secretary. 

New York, Saturday, February 18, 1882. 



Entered at tht Post Office at New York City as Secondr Class 
Mail Matter. 

NATIONAL BANKS. 



TT is not the design of this article to treat of 
National banks in their entirety, but to 
draw attention to two features of almost abso- 
lute safety. The first relates to stockholders. 
Of the $530,000,000 invested in National bank 
stock, but $17,000,000 has ever been lost to 
stockholders, or 3^ per cent of the whole 
amount invested. This is a showing for in- 
vestors of money which comes so near promis- 
ing absolute safety that it seems almost un- 
pardonable when a hue and cry is started 
against the banks because of the defalcation of 
some officer. There is no other line of invest- 
ment outside of United States bonds that can 
make such a claim. The other feature relates 
to the people at large who have to handle the 
currency issued by the banks. There was a 
time when currency was an unknown quantity. 
A person could go into a bank and find a num- 
ber of clerks engaged in assorting bank-notes, 
80 that they might find their way back to their 
respective States, and be returned to the several 
banks of issue. 

A bank- note issued on Wall street was worth 
a hundred cents on a dollar in New York City, 
but the same note carried West depreciated in 
value the further West it went, the discount 
being based upon the number of days it would 
take to get it back to Wall street, and the gen- 
eral reputation of the bank issuing it. When 
a bank failed, even the most respectable, it 
became a question of doubt how many cents 
on a dollar the innocent holder of its currency 



would receive. This system of banking brought 
in its train numerous evils. There were banks 
formed which made paper money largely in 
excess of their ability to redeem, and flooded 
the market with what was termed "wild-cat 
currency." -: ^ 

To-day, however, with our present system 
of National banks we have a showing exactly 
the reverse of what was seen in State bank 
days. We have a currency, no matter by what 
National bank issued, or in what State, that is 
worth one hundred cents on the dollar in every 
State, county, city, town, village, and hamlet 
wherever currency is received. This is not 
all. The failing of a National bank does not 
depreciate its currency. On the contrary, we 
have the somewhat strange condition of affairs 
that when a National bank fails its circulation 
commands a premium. The limit to the 
amount of National currency issued makes it 
impossible to start new banks until some of 
those already in existence are retired. When 
any bank from any cause is retired there are 
always capitalists enough standing ready to 
offer a premium for its circulation, in order to 
start a new bank. This sometimes makes the 
currency of a failed bank worth one hundred 
and three cent on the dollar, when as a solvent 
bank it was worth only face value. - -' 

The officers of State banks who are now 
officers of National banks must be singularly 
impressed when they remember how they used 
to allow a week's interest to some broker to 
circulate their notes, while now the notes of a 
failed National bank command a premium. 
While our currency is in this present condi- 
tion there can be no doubt as its absolute 
safety. It then well becomes our legislators to 
let it alone. It cannot be improved. It can- 
not be changed without loosening to a greater 
or lesser degree this absolute safety. By all 
means, let the people stand up and demand 
that no tinkering be done with the currency, 
as the present absolute safety is far more 
desirable than any fancy theories of self-seek- 
ing politicians. . 



SENATOR BOYD'S RAHiROAD BILIi. 



rr^HE railroad bill introduced into the New 
York legislature a few days ago by Sen' 
ator Boyd, who was elected by the help of the 
anti-monopolists in the sixth district, is the 
most important piec« of legislation that will be 
considered by that body during this session. 
There can be no question with regard to the 
desirability of a railroad commission for the 
Empire State, but there are gross objections to 
the bill referred to in its present form. The 
bill is taken from the statutes of Geoi^a and 
is far more sweeping in its terms than the Mas- 



sachusetts railroad law, which has been taken 

as a model by several States. 

It provides for the appointment by the gov- 
ernor of these railroad commissioners, who 
shall hold office for six j'ears, the terms being 
arranged so that a vacAncy shall occur every 
two years, and charges them with the execution 
of the act. The commission is to be located at 
Albany, to have a secretary and attorney, and to 
make an annual report to the Legislature. One 
half of its expenses are to be paid by the State 
and one half by the railroad companies. No 
person holding or owning stock in a railroad is 
to serve as commissioner or in any capacity 
under the commission, and an acceptance of a 
free pass by a commissioner is made a misde- 
meanor. 

The powers of the commission are very broad, 

and their authority is limited only by the de- 
cisions of the Supreme Court at Albany on ap- 
peal. Section 8 of the bill, provides that " all 
freight tariffs shall be made uniform." Uni 
form in what respect ? Are through and local 
rates to be the same or are rates to be the same 
between competing and non-competing points ? 
The commissioners are to be the sole judges of 
what " uniform freight tariffs" mean. But if 
freight tariffs are to be made uniform, why 
should not passenger fares be made uniform 

also? 

Section 9 empowers the commission to make 

reasonable maximum rates for freight and pas- 
sengers, based on the cost of service. This 
maximum rate shall in no case exceed ten per 
cent over and above the actual cost of such ser- 
vice, and in no case shall any rebate or bonus 
be allowed, directly or indirectly. 

Here again the term " cost of service" is 
fixed wholly by the board of commissioners, 
and the maximum rate is never to exceed ten 
per cent above the " actual cost of such ser- 
vice." If rates are to be based upon cost of ser- 
vice then it will be difficult if not impossible 
to have freight tariffs •• uniform." If the rule 
is adopted that freight service shall be charged 
at the average cost of the entire road per mile 
run for freight business, then freight tariffs will 
vary with different roads. If mileage and in- 
terest of investment be taken into account the 
discrepancy will be still greater. 

Again, the commissioners may publish, from 
time to time, freight schedules, and all contracts 
for the carriage of freight not in conformity with 
such schedules .shall he void. In order to arrai^e 
these schedules the commissioners have power 
to examine the books of the various railroads, 
to administer oaths, and to call for persons and 
papers upon which to base their tariff sched- 
ules for freight and passengers. A fine of not 
more than five thousand dollars or imprison- 
ment is the penalty for disobedience. 






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We imagine that Mr. Boyd would have a very 
ardnons task in enforcing the section of his bill 
which declares that no contracts for the car- 
riage of freight which are not sanctioned by his 
commissioners shall be valid. If he is able to 
satisfy himself that such a provision does not 
interfere with the vested rights of railroads as 
secured to them by their charters, we beg to 
call his attention to that section of the consti- 
tution of the United States which declares that 
no law shall be passed that shall impair the 
* ''obligation of contracts." 

He does not need a lawyer to tell him that 
he State of New York cannot pass a law 
that shall affect a contract made in that State, 
—between a man in New York City, for instance, 
and a man in Chicago or New Orleans. A freight 
shipper in Chicago who makes a contract for 
the carriage of freight with a citizen of New 
York cannot be disturbed as to his contract by 
a law made in New York State; although his 
contract is made payable in New York City. 
That provision in Mr. Boyd's proposed bill 
may do for Georgia, but it never would receive- 
the sanction of the Court of Appeals even if 
adopted by the New York Legislature. 

The bill concludes by authorizing the com- 
mission to enforce its rules and orders by 
attachment, fine and imprisonment, and by 
the most extraordinary provision that no in- 
junction shall be made by any court in the 
State which shall have the effect of hindering 
or obstructing or delaying the operation or ef- 
fect of such rules or orders as the commission 
may make, unless such injunction or restrain- 
ing order is founded upon judgment of a coiirt 
upon appeal declaring such order unlawful and 
invalid. 

In other words, no matter how unjust or ab- 
surd rules or orders of the commission may be, 
no court in the State can interfere with such 
rules or orders, until the Supreme Court at Al- 
bany upon appeal shall have declared such 
order invalid. 

Comment upon this section would seem to 
be unnecessary'. The writer of this article is 
personally interested in a suit at law in which 
he has been waiting patiently for more than 
two years for a decision from a justice of this 
same Supreme Court at Albany. 

We have no fear that the Legislature of New 
York, if it succeeds in doing any business this 
session, will pass this bill in its original draft. 
We say again, the subject is the most important 
that will be considered by the New York or any 
State legislature this winter, and it should re- 
ceive the fullest and freest discussion. Such 
legislation is greatly needed in New York State 
especially. Space forbids us from the further 
consideration of the matter at present, but we 



would respectfully call the attention of Senator 
Boyd, if he is not pledged to the advocacy of 
extreme measures, to the admirable railroad act 
of the State of Massachusetts, which statute 
has stood the test of experience and has proved 
of great value to people and railroads alike. 



Columbus, Chicago and Indiana Central 
, Railw^ay. 



At an adjourned meeting of the bondholders 
of the Columbus, Chicago and Indiana Central 
Kailway Company, held in this city on the 11th 
inst., the plan of reorganization proposed at a 
meeting held on the 9th inst. between a com- 
mittee of their number and the Pennsylvania 
Railroad Company and the Pittsburg, Cincin- 
nati and St. Louis Railway Company was rati- 
fied by a vote of $8,761,000 to $134,000. The 
agreement goes into effect by the foreclosing 
of- the consolidated mortgage of the Columbus, 
Chicago and Indiana Central Railway Company, 
and the selling of the property covered by it, 
which is to be bought in. The purchaser is to 
form a new corporation, with a capital of $10,- 
000,000 common stock and $20,000,000 prefer- 
red stock, the dividends on the latter, it is claim- 
ed, to be 6 per cent per annum, payable semi- 
annually in preference to dividends on the 
common stock, and to be cumulative. The 
new company shall issue first mortgage bonds 
for $22,000,000, payable at the end of fifty 
years, with interest at 5 per cent. Of these 
bonds $5,500,000 is to be reserved for underly- 
ing sectional bonds that may come due. Bonds 
to the amount of $12,878,000 par value shall be 
issued in exchange for old bonds and receipts, 
and the remaining $3,622,000 of such bonds 
shall be used by the new company to raise 
monej' for improvements. Two million four 
hundred thousand dollars shall be paid by the 
Pennsylvania Railroad Company and the Pitts- 
burg, Cincinnati and St. Louis Railway Com- 
pany to the new corporation, when organized, 
in satisfaction of all claims held against them 
by the Columbus, Chicago and Indiana Central 
Railway Company. The holder of each bond 
issued by the Columbus, Chicago and Indiana 
Central Railway Company shall be paid $150 
in cash and $400 in preferred stock of the new 
company, bearing 5 per cent interest. The 
Pennsylvania Railroad Co. shall convert the 
second mortgage bonds of the Columbus, Chi- 
cago and Indiana Central Railway Company 
into income bonds, as directed by the United 
States Circuit Court, and the holder of every 
income bond coming into this scheme shall 
surrender to the committee of the bondholders 
of the Columbus, Chicago and Indiana Cen- 
tral Railway Company all income bonds held 
by him, and pay the committee 10 per cent in 
cash of the par value thereof. In return for 
this he shall receive $1,250 in preferred stock 
and $250 in common stock of the new compa- 
ny for each income bond delivered, and the 
holders of stock in the Columbus, Chicago and 
Indiana Central Railway Company shall sur- 
render to the com/nittee all stock held by them 
and pay 5 per cent in cash on the par value of 
said stock and shall receive therefore stock 
in the new company for one half of the 
amount of their old stock. All money to be 
paid in cash and all stocks and bonds surren- 
dered to be given this committee to enable 
them to carry out the plan of reorganization. 



PERSONAL. 



Augustus ScHEiiL has been elected president, 
and James Tillinghast, vice-president, of the 
New York Central Sleeping-Car Company. 

John Wood has been appointed traveling 
agent of the Detroit, Lansing and Northern 
Railroad Company, vice W. W. Heafford, re- 
signed. 

Bkevet Major-Genebal Meigs, Quartermaster- 
General, and Brigadier-General Latham W. 
Brown, Paymaster-General, have been placed 
upon the retired list. 

J. E. P. Abbott has been re-elected presi- 
dent, and Charles R. Colwell secretary and 
treasurer, of the May's Landing and Egg Har- 
bor City Railroad Company. I 

Chables O. Scull has been appointed chief 
assistant general j^assenger agent, and Frank 
Vanditsen, chief clerk of the Pennsylvania 
Company's lines west of Pittsburg. 

Thomas C. Keefer, of Ottawa, Canada, was 
elected one of the directors of the American 
Society of Civil Engineers at the recent annual 
meeting in New York. He is the first Canadian 
who has been thus honored by the Society. 

The directors of the Kentucky Central Rail- 
road Company, have elected the following 
officers : M. E. Ingalls, president ; Gen. John 
Echols, vice-president ; C. H. Bronson, secre- 
tary and treasurer ; J. D. Ellison, general man- 
ager. 

WiLLLiM H. Hayes has succeeded the late 
George Law as the president of the Eighth 
and Ninth avenue horse railroad companies. 
Mr. H. B. Wilson, who has been for twenty- 
eight years connected with the Eighth avenue 
Road, remains as its superintendent and gen- 
eral manager. 

The Mayor of Baltimore has nominated and 
the City Council confirmed the following direc- 
tors on the part of the city in the Baltimore 
and Ohio Railroad Company ; John Gill, J. 
Kettlewell Ober, George R. Barry, Henry Mc- 
Shane, Joseph Friedenwald, John H. Holthaus, 
and Michael Coakley. 

David Jones, a well-known civil engineer, 
died at his residence near Titusville, Penn., on 
the 6th inst. Mr. Jones came to this country 
from England at the instance of James Mc- 
Henry, to engage in the construction of branch 
lines for the Atlantic and Great Western rail- 
road. 

The stockholders of the St. Joseph County 
division of the Toledo and South Haven Nar- 
row-Gauge railroad, have elected John F. Wall, 
president ; E. D. Thomas, treasurer, and John 
A. McKinlay, secretary. It is expected that 
this road in time will be completed from South 
Haven to Toledo. 

Miss Belle Braden, who has recently been 
re-elected treasurer of the Waynesburg and 
Washington Railroad, in Pennsylvania, for a 
second term, is probably the only lady in the 
United States, who is a railroad officer. She is 
also paymaster, and makes regular trips over 
the road in the pay car. 

The list of sworn brokers in the city of Lon- 
don contains a number of the aristocracy, in- 
cluding a duke's younger son, Lord Walter 



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Campbell, and also the following : The Hon. 
Albert Petre, the Hon. Edward and Henry 
Bourke, Sir Maurice DufiE-Gordon, the Hon. 
Kenelm Pleydell-Bouverie, the Hon. Richard 
Strutt, and Sir Hector Maclean Hay. 

N. E. Chapman, for seventeen years master 
mechanic of the Cleveland and Pittsburg rail- 
road has resigned his position, to take effect 
February 25. He will accept the position of 
master mechanic of the Baltimore and Ohio 
railroad, from Washington to Chicago, with 
headquarters at Baltimore. In this new posi- 
tion he will have charge of 6,000 miles of rail- 
road, and the rolling-mills, steamboats, etc. 
belonging to the company will be under his 
supervision. 

The officers of the Shenandoah Valley Rail- 
road Company, recently elected, are : F. J. 
Kimball, Philadelphia, president ; U. L. Boyce, 
Boyceville, Va., vice-preSident ; "W. G. Macdon- 
ald, Philadelphia, treasurer ; G. R. W. Armes, 
Philadelphia, secretary ; W. H. Travers, 
Charlestown, Va., general counsel ; W. W. Coe, 
Lexington, Va., chief engineer ; J. H. Sands, 
Hagerstown, Md., superintendent; C. P. Hatch, 
Hagerstown, Md., general freight and pas- 
senger agent ; J. W. Coxe, Hagerstown, Md., 
auditor and general ticket agent. 



ORGANIZATION. 



The officers of the Providence and Worcester 
Railroad Company, elected on the 10th inst., 
are : President, George Leete ; treasurer, John 
R. Balch; superintendent, William E. Cham- 
berlain. 

The stockholders of the Canada Iron and 
Manufacturing Company of Montreal have elect- 
ed the following board of directors : Henry 
Bulmer, president, R. W. Sheperd, vice presi- 
dent, Robert Anderson, George A. Drummond, 
John Ogilvie, and the Hon. Thomas Ryan ; 
secretary and treasurer, Philip S. Ross. 

The directors of the Boston and Albany Rail- 
road Company, elected on the 8th inst., are : 
George O. Crocker, of New Bedford, Moses 
Kimball of Boston, Henry Colt of Pittsfield, 
Edward B. Gillett of Westfield, John Cnmmings 
of Woburn, Charles S. Sargeant of Brookline, 
William Bliss of Springfield, James A. Rum- 
rill of Springfietd. 

Henry S. Eckeet has been elected president, 
Jas. Lord sec'y and treas., and Geo. B. Eckert, A. 
Wilhelm, Thos. Darlington and H. V. L. Meiggs 
directors of the Penn. Belt and Nut Works. 
The manufacture will be carried on in the old 
Planing Mill, on South Third st., Reading, 
until suitable new buildings are erected. The 
capital of the company has been fixed at $150,- 
000. .^,,, ^. . 

At a meeting of the directors of the 
Halifax and Cape Breton Coal and Rai- 
way Company, held on the 8th inst., 
the old board of directors were reelected 
as follows: Sir Hugh Allan, president ; 
Hon. John Hamilton, vice president ; Hon. J. 
J. C. Abbott, Andrew Allan, Capt. T. D. Mil- 
burne, Harry Abbott and H. Montague Allan. 

The stockholders of the Kingston and Pem- 
broke Railway Co., at their annual meeting in 
Kingston, Ca., on the 8th inst., elected the fol- 



lowing directors : R. P. Flower, J. D. Flower, 
H. H. Porter, J. Munson, C. F. Gildersleeve, B. 
A. Kirkpatrick, W. N. Nickle, B. W. Folger and 
J. Swift. At a meeting of directors later C. F. 
Gildersleeve was re-elected president and J. D. 
Flower, vice president. 

The following gentlemen have been elected 
directors of the Louisville, Evansville and St. 
Louis Railway Co. for the ensuing year : John 
Goldthwait, James H. Wilson, Henry D. Hyde, 
Jonas H. French, Wm. J. Hartchart, J. Pay^ne 
and Frank B. ^Vhite, of Boston ; St. John Beyle 
and Bennet H. Young, of Louisville, Ky. ; Ed- 
ward Cummings, of Covington, Ky. ; Bluford 
Wilson, of Springfield, 111. ; Wm. Heilman and 
Wm. F. Nesbit, of Evansville, Ind. , 

The Stove Manufacturers' Association of the 
United States met at Cincinnati on the 8th inst., 
and elected the following officers : President, 
W. H. Whitehead, Chicago; vice presidents, 
Giles F. Filley, St. Louis; S. R. Burton, Cincin- 
nati ; treasurer, Uriah Hill, New York; secretary, 
W. H. Lord, Chicago; managers; R. P. Meyers, 
Cleveland; A. Bradley of Pittsburg; John S. 
Perry, Albany, N. Y. ; Wm. Obenroth, New 
York, and John McGee, Boston. There were 
about 80 members present. 

At the annual meeting of the stockholders 
of the Indianapolis Belt Railroad Company, 
held on the 10th inst., the directors chosen 
were W. R. McKeen, E. F. Claypool, Horace 
Scott, D. W. Minshall, M. A. Downing, John 
F. Miller, John Thomas and R. S. McKee. The 
only change was McKee, vice C. C. Gale, who 
has disposed of his interest and was, therefore, 
ineligible. W. R. McKeen was continued pres- 
ident and E. F. Claypool secretary. 

The directors of the Louisville, New Albany 
and Chicago Railroad Company, elected on the 
10th inst., are: John J. Astor, Robert Lenox 
Kennedy, Jamuel Sloan, R. G. Rolston, E. H. 
Green, William Whitewright, J. A. Gargiulo 
and H. Victor Newcomb, of New York ; E. D. 
Standiford, R. S. Veech, Isaac Caldwell and 
Robert R. Hitt, Louisville, and Henry Craw- 
ford, of Chicago. The new members of the 
board are Messrs. Gargiulo, Hitt and Crawford, 
who take the places of Henry F. Vail, deceased, 
and F. DeFuniak and W. C. De Pauw. . 

The Madison Square Bank has been organ- 
ized under the State laws, and will be opened 
for business in West Twenty-third street as 
soon as suitable quarters are secured. Mr. W. 
Wetmore Cryder will be the president, and 
among the directors will be Lawrence Thrnure, 
R. P. Lounsbery, C. C. Baldwin, Effingham 
Townsend, Charles Delmonico, Charles L. Per- 
kins, G. G. Haven, Wm. B. Dinsmore, Charles 
Curtiss and George M. Fuller. The capital 
stock is $200,000, and among the subscribers 
are Mayor Grace and David Dows. 

At the annual meeting of the stockholders of 
the Scioto Valley Railroad Company, held in 
Columbug, Ohio, on the 9th inst., the follow- 
ing board of directors was elected : William 
Adams, H. K. McKarg, E. F. Winslow, Horace 
Porter, New York; Marcuss Boggs, Chillicothe; 
George Davis, Portsmouth; William W. Frank- 
lin, George Skinner, Joseph Robinson, Colum- 
bus. At a subsequent meeting of the direct- 
ors the following officers were chosen : Wil- 



liam Adams president, W. W. Franklin, vice 
president ; George Skinner, superintendent ; 
Joseph Robinson, assistant superintendent and 
treasurer; James P. Curry, secretary. 

The annual election of the American Insti- 
tute on the 10th inst. resulted as follows : For 
president— Nathan C. Ely; for trustees — Charles 
H. Clayton, James Delamater, Edward Schell, 
William H. Schermerhom; for managers — Al- 
exander M. Ea^leson, George ^^^litefield, Abra- 
ham Lent, William H. Gednej', Charles F. 
Jardine, Albro Howell, Aug. Wetmore, Jr., J. 
Allen, John J. Tucker, John Trumbull Smith, 
Edwin R. McCarty, Benjamin 11. Western, 
Peter W. Mead, Aaron L. Northrop, John H. 
Walker; for auditors — William A. Camp James 
G. Powers (for the unexpired term of Sey- 
mour A. Bunce, deceased) ; for inspectors of 
election — Benton H. Martin Joseph E. Dun- 
ham, Thomas D. Briggs. 



CONSTRUCTION. 



The Canada Atlantic Railway engineers com- 
menced the location of the line from Valley 
field to Rouse's Point on the 7th inst. 

The contract for Emorj's Bar and the Port 
Moody section of the Canada Pacific Railway 
has been awarded to A. R. Onderdonk. 

Feom Panama, Feb. 14th, we learn that the 
section of railroad from Corinto to Chinande- 
ga, Nicaragua, has been finished, and within 
three months the road will have been extended 
to Leon. 

The Missouri Pacific Railway of Nebraska is 
completed to Sheridan, the centre of Nemaha 
county, in that State, and trains to Atchison 
are running. The force constructing the road 
has been doubled, and it is intended to finish 
to Omaha by April 1. 

The West Chester (Penn.) Local Xines hears 
that so much of the New York and Lancaster 
Railroad which is to run between the Falls of 
French Creek and Phoenixville will be located 
and the ground broken before the '* trees begin 
to leaf " in the spring. 

The Cabinet Ministers who accompanied Mr. 
James Sullivan over the Pascuaro division of 
the Mexican National Railway, 270 miles from 
the city of Mexico, recommend the completion 
of the work. The government has authorized 
the opening to traffic of forty miles of the road 
from Laredo southward. 

The Philadelphia and Reading Railroad is 
now on the opposite side of the Susquehanna 
River from the thriving borough of Watson- 
town, and it is generally understood that the 
new management will construct a bridge across 
the river, thus competing with the Northern 
Central for the trade hitherto almost exclusive- 
ly controlled by that road. 

The route of the projected New York, Pitts- 
burg and Chicago Railroad is from Jersey City, 
on the Central Railroad of New Jersey, to Tam- 
anend, 130 miles west of New York, thence 
through Pennsylvania to Wampum, on the Bea- 
ver River, to which point the road is already 
built, upon which cars will be running by April 
1. A branch runs from Wampum to Pittsburg. 
From Wampum west the road runs to New Lis- 



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bon, thence to Waynesbiirg and Sparta, Stark 
county, and on through Tuscarawas, Holmes, 
Knox, Richland and Marion counties to Marion, 
O., where it will join the Chicago and Atlantic 
Boad. The latter road runs from Marion to 
Chice^o. I I ■]:■.. 

It is stated that should the North Shore Rail- 
road of Long Island be abandoned a number 
of New York merchants who live along the lines 
propose to buy a controlling interest in it and 
build a new road from Flushing to the East 
River. A ferry will be established which will 
connect with New York City at or near James 
slip. I 

Tmc line of the new branch of the ^Central 
Railroad of New Jersey from Port Oram to No- 
lan's Point on Lake Hopatcong, has been run 
out and partly staked for the cross sections. 
Work upon it will begin in a few days, and it is 
expected that the branch will be completed at 
the opening of navigation. The branch will 
connect the Ogden Mine Railroad with the 
main line. 

The Pensacola and Atlantic Railroad, in Flor- 
ida, was organized less than nine months ago, 
and has now six milea railed and running out 
from Pensacola and seventy miles graded. The 
whole road will be finished in December next. 
This road, it is claimed, will save 400 miles 
travel from New Orleans to Jacksonville and 
the same distance from all Gulf ports to the 
Atlantic. I . i 

The Long Island Railroad Company will 
shortly commtnce the laying of a double track 
on the Atlantic Avenue Division between Wood- 
haven and Jamaica, and in the spring begin 
the running of rapid transit trains from Flat- 
bush avenue, Brooklyn, through to Jamaica. 
The company are now having a route surveyed 
for the extension of the Locust Valley branch 
through the villages of Oyster Bay and Cold 
Sprii^ for the extension of the road to Hunt- 
ington. , ^ 

The surveys for the beach branch of the East- 
em Railroad from Merrimack River to Ports- 
mouth are being pushed forward in the hope 
of completing the road for the pleasure season. 

The Philadelphia and Reading Railroad Com- 
pany are reported to have made arrangements 
for extending their road from Shamokin to Dan- 
ville, Penn., a distance of 17 miles. By this 
route the company will ship coal direct from 
the Shamokin and Schuylkill regions to all 
points. The route from Danville will be by 
the Catawissa to Williamsport and Jersey Shore 
and other branches of the New York Central. 
The new line will reduce the distance between 
Shamokin and Williamsport some 50 miles. 

The Mexican Government directors report 
on the present conditioin of the works of the 
Mexican National Conatrnction Company as 
follows : Toluca Division — Track laid and 
ready for operation, 18 kilometres; grading, in- 
cluding track laid, 73 kilometres; Maravatio 
Division— Grading concluded, 42 kilometres ; 
tunnel excavation, 254 lineal feet. Morelia Di- 
vision—Grading concluded eastward, 58 kilo- 
metres; grading concluded westward, 20 kilo- 
metres. This needs only track-laying, two 
bridges and twenty-six culverts. 



finished, 12 kilometres. Colima Division — 
Grading finished, 31 kilometres. Laredo Di- 
vision—Track laid and in operation, 40 kilome- 
tres. Most of the employees in the company's 
telegraph offices, they say, are Mexicans. They 
report from 12,000 to 15,000 men at work on 
he lines, which, they think, will be finished 
by the time fixed in the laws and concessions 
under which construction is going forward. 

The Southern Maryland Railroad has been 
graded as far as Esperanza, oppesite Solomon's 
Island, a distance of 50 miles. The iron has 
been laid from Brandywine to Mechanicsville, 
St. Mary's county, a distance of 20 miles. 

Peeliminary surveys are now being made of 
th^Tucson and Gulf of California Railroad in 
the interest of the Southern Pacific road. The 
distance from Tucson to Lobos is about 175 
miles, and the route is skirted on both sides by 
rich mining districts. 

General superintendent Towne of the Cen- 
tral Pacific Railway says that the company in- 
tends to proceed in the spring with construc- 
tion on the route it has surveyed from Corinne, 
Utah, to the Missouri River. The company 
will complete the line between San Francisco 
and New Orleans by August. 

The Council of Ministers of Madrid, Spain, 
has finally approved the plan for offering to 
public competition about 600 miles of the pro- 
posed Central Cuban Railway. Six months 
after the close of the contract the railway will 
get a State subsidy of $2,300 per kilometre. 

During the year 1881 ten miles of the Kings- 
ton and Pembroke Railway north of the Mis- 
sissippi river were completed and the grading 
of three additional miles well advanced. It is 
the intention to have trains running to Clyde, 
17 miles beyond the Mississippi by July 1. 
A survey of the whole line to the junction with 
the Canada Pacific Railway at Renfrew is being 
vigorously prosecuted. The receipts of the 
road for 1881 were $76,326 ; expenditure on 
running account, $60,689. 

The Mexican Central Railroad has been com- 
pleted to Queretaro, 150 miles north of the 
city of Mexico. Government engineers are 
now out examining the new division, which 
was to have been opened to traffic on the 15th 
inst. The first installment— $250,000— of the 
subvention certificates has been delivered to 
the company, and $1,000,000 more will be hand- 
ed over shortly. Hereafter six per cent of the 
duties at all ports will be paid with the certif- 
icates. 



INCORPOBATION. 



The Rochester and Ontario Belt Railroad 
Company filed on the 2d inst. maps of the 
proposed new road and articles of incorpora- 
tion with the Clerk of Monroe county. The 
company has a capital of $1,000,000 in shares 
of $1'^0 each. The road is to be fifty miles 
long from the Erie terminus in Rochester to 
Lake Ontario, winding round the city. It is 
designed to afford facilities for the existing and 
projected lines and to transport coal and other 
freight to the port of Charlotte, and also for pas- 
Zacatecas I senger business. The directors are Henry A. 
Division—TraQk laid, 20 kilometres; grading | Taylor, Donald McNaughton, and Mortimer 



Wilkie, of Rochester, N. Y. ; Adolf M. Klemm, 
of New York ; Jos. C. Tone, of Rochester ; 
Christopher Meyer, Henry F. Shoemaker, John 
Rheinlander Dillon, Jesse R. Grant, New York ; 
John E. Coale, of Rutherford Park, N. J. ; 
Francis A. Bassler, of New York ; Alvah W. 
Burlingame and Frederick A. Wilkie, of Brook- 
lyn. . . J 

The Bodie and Benton Commercial Railway 
Company has been incorporated for the pur- 
pose of constructing a narrow-gauge railroad 
from the south end of Mono Lake to a point 
connecting with the Carson and Colorado Rail- 
road near Benton, and for erecting and oper- 
ating saw-mills and doing a general lumber and 
wood business. The capital stock is $2,000,- 
000, divided into 200,000 shares of $10 each. 
R. N. Graves, A. J. Ralston, H. M. Yerington, 
Thomas Menzies, William Willis, J. B. Low 
and W. S. Wood are directors'. Eighty thou- 
sand dollars have been subscribed, and William 
Willis has been elected treasurer. The princi- 
pal place of business is in San Francisco. 

The Indianapolis, Eel River and Southwest- 
em Railroad Company has been incorporated. 
The capital stock is $2,000,000, and the road is 
to run from Indianapolis, Ind., southwest 
through the counties of Marion, Hendricks, 
Morgan, Putnam, Clay, Owen, Greene, Sullivan 
and Knox to Vincennes, 115 miles. The com- 
pany reserves the right to construct branches 
to adjacent coal fields. The officers are : Pow- 
hattan D. Smith, Urbana, 111., president ; Allan 
Heavenridge, Stitesville, Ind., vice-president ; 
John J. Huffman, Poland, Ind., treasurer; Ho- 
mer W. Ayres, Urbana, 111., secretary; William 
Daggy, Greencastle, Ind., assistant secretary. 

Articles of incorporation of the Nebraska 
Central Railroad Company have been filed in 
the office of the Secretary of State of Nebraska, 
the object being the construction of a railroad 
from a point on the south line of the State of 
Nebraska, opposite the terminus of the Mis- 
souri Pacific Railroad, at Talmage, Republican 
county, Kan., and from thence in a northerly 
direction to the city of Niobrara, Knox county, 
Neb., passing through the counties of Nickols, 
Clay, Hamilton, Merrick, Nance, Boone, Ante- 
lope and Knox, with an estimated length of 
200 miles. The capital stock is placed at $300,- 
000 and is divided into shares of $100 each. 
The incorporators are : D. W. Montgomery, 
Thomas Fiches, J. Van Valen, J. Ritterbush, 
G. D. Fullmer, E. L. Johnson, M. C. Long, C. 
W. Gulick and F. P. Tibbetts. | 

A CHABTER was issucd at Harrisburg, Penn., 
on the 8th inst. for the Pittsburg and Monon- 
gahela Valley Railroad Company. The road 
will be of standard gauge, and will extend from 
the mouth of Saw Mill Run to Finlej'ville, in 
Washington county, a distance of 15 miles. 
The capital stock is $150,000. The directors 
are : M. D. Hays, president ; H. T. Morris, 
Josiah Reamer, James R. Redman, T. N. Mil. 
ler, W. R. Stoughton, T. F. Best, Pittsburgh . 
B. L. Crawford, Remington ; Norman May, 
Alleghany. The road, which is to be pushed 
forward rapidly to completion, will, besides 
opening up rich coal fields, enable the Castle 
Shannon and Keeling coal to be loaded directly 
at the mines, instead of first having to pass 



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AMERICAN RAILROAD JOURNAL. 



103 



a1 



over an inclined plane, and that those mines 
will be placed in direct communication with 
the lakes. The road will be one of the links of 
the new lines to the coke regions. 

The Mauch Chunk Democrat says that the 
Virginia Coal and Iron Company, for the devel- 
opment of mineral lands in Virginia, has been 
incorporated with a capital of $1,500,000. Hon. 
John Leisenring, of Mauch Chunk, Penn., is 
the president. 

The Bismarck, Mouse Kiver, Turtle Moun- 
tain and Manitoba Railroad Company, with a 
capital of $2,000,000, organized on the 13th 
inst. by electing Hon. E. A. Williams president 
and W. H. Jewell vice-president. The length 
of the road will be 180 miles. Work will be 
begun in April. 

AccoKDiNG to the report of the Secretary of 
Texas, prepared for transmission to the Legis- 
lature, we learn that during the year 1881 twen- 
ty-seven railway companies, with an aggregate 
capital stock of $109,000,000, filed charters, and, 
with but three or four exceptions, it is certain 
that these railroads will be built. 

A BILL was introdxiced into the Vii^nia Sen- 
ate on the 10th inst. to incorporate the Alle- 
ghany Extension Railroad Company ; the ob- 
ject being to authorize the construction of a 
railroad from any point beyond Lynchburg, 
Va., on the line of the Richmond and Alleghany 
Railroad, to the West Virginia line, and to 
consolidate with any other railroad which would 
form a connecting line with the Richmond and 
Alleghany Railroad. 

The Oley Valley and Lehigh Railroad Com- 
pany has been chartered with a capital of $600,- 
000. The object is construct a railroad 24 
miles in length, from Birdsboro, Penn., toSeis- 
holtzville, which will give, by connection with 
the Wilmington and Northern Railroad, a di- 
rect line from Wilmington, Del., to Catasau- 
qua. Seisholtzville is a small village in the 
northeastern corner of Berks county. The name, 
•• Seisholtz," is Pennsylvania Dutch for " sweet 
wood." - 

Walter S. Drat, Samuel Rivers, W. H. Camp- 
bell, J. H. Havighorst, Jr., and Judge Lyman 
Lacey, of Havana, 111., Daniel W. Riner, of 
Mason City, 111., and Norval Dixon, of Hoi den, 
111., have been authorized by the Secretary of 
State of Illinois to organize the McLean, 
Havana and Quincy Railroad Company with a 
capital of $1,000,000. The principal office will 
be at Havana. The purpose of the company is 
to construct a railroad from Leroy, McLean 
county, terminating at Quincy, 111., with a 
branch from Bloomington to connect with the 
main line between Leroy and Havana. 

The Walker Horseshoe Co., of Baltimore, 
Md., has been incorporated with a capital of 
$200,000. The directors are : Saml. G. B. Cook, 
Wm. G. Atkinson, Oliver C. Zell, Clinton P. 
Paine and Edgar G. Miller, of Baltimore, and 
Jas. T. Walker, of Troy, N. Y. The officers 
are Saml. G. B. Cook, president; Wm. G. At- 
kinson, vice president; Oliver C. Zell, treas- 
urer; Clinton P. Paine, secretary pro tern., and 
Jas. T. Walker, general superintendent. The 
Walker forged horseshoe used to be manufac- 
tured at Troy, N. Y., in connection with the 
Albany and Rensselaer Iron and Steel Co., and 



A certificate of incorporation of the St. 
Louis, Harrisbtirg and Ohio River Railway 
Company was filed with the Secretarj- of State 
of Dlinois on the 9th inst., by Asberry Wadell, 
J. M. Mitchell, Robert Mick, W. M. Cheyely, 
L. Lavender, J. F. Taylor, D. Herrod, C. O. 
Lockwood, J. A. Lamed, E. P. Schlater and S. 
H. Lamon, with a capital of $700,000. The 
road is to be built from Harrisburg, Saline 
county, to Mineral City, Hardin county, with a 
lateral branch from the junction of the St. 
Louis and Southeastern and Ohio and Missis- 
sippi Railroads in Gallatin county to a point 
within fifteen miles of Mineral City. 

is well known throughout the country. The 
company having purchased the patent from 
Mr. Walker, the patentee, he has been prevailed 
upon to assume the superintendency of the 
works. The process of manufacture is differ- 
ent from that of any other make, while the pro- 
duct is said to be better adapted to the require- 
ments of horseshoers and the trade than any 
shoe hitherto offered. It has a well propor- 
tioned web, a good thick heel, a clean crease 
of proper width and depth, and the front shoes 
are well concaved. The nail holes are punched 
through at proper angles, and are free from 
burs. The otitside edges are smooth, free from 
bulge.s and rounded to prevent interference. 
In addition, their smooth finish, freed(yn from 
fins, scale or oil render them pleasing to the 
eye and clean to handle. The company will 
employ about 150 hands. 



CONSOLIDATION. 



Articles consolidating the three Indiana, 
Illinois and Iowa railroad companies into the 
Indiana, Illinois and Iowa Railroad Company, 
with a capital of $14,000,000, were filed with 
the Secretary of State of Illinois on the 8th 
inst. The new board of directors is composed 
of George H. Holt, Adam W. Speis, Albert S. 
Comstock, Alfred Sully, Samuel Merrill, Joel 
D. Harvey and Edwin Walker. These roads 
lately passed under the control of the Chicago, 
Milwaukee and St. Paul Railway Company. 

The Zanesville and Southeastern and the 
Bellaire and Southwestern Railroad companies 
have been consolidated under the name of the 
Bellaire, Zanesville and Cincinnati Railroad 
Company. It is already completed from Bel- 
laire to Woodsfield, Monroe county, and is 
under contract from Woodsfield to Caldwell, in 
Noble county. The stockholders on this end 
of the road will build from here to Caldwell, 
for which a great proportion of the money has 
already been subscribed. > • 

The Ohio Central and the Atlantic and North- 
western Railroad companies have been consol- 
idated under the name of the Ohio Central 
Railroad Company. The directors are : Wil- 
liam H. Barnum, Connecticut; Calvin S. Brice, 
Lima, Ohio ; Dan P. Eells, Cleveland; Francis 
O. French, and Samuel Shethar, New York ; 
Thomas Ewing, Lancaster; Joseph H. Gray, 
Boston; Joseph S. Miller, Wheeling ; George I. 
Seney, Brooklyn; Samuel F. Thomas, Colum- 
bus ; Charles E. Worthman and Henry C. Par- 
son, Richmond. The capital stock will be 
$35,000,000. A continuous line will be formed 
from Toledo to the east line of West Virginia. 



Coiled Wire Belting. 



The Peri>etual Tension Propelling Belt Com- 
pany, 328 and 330 Seventh avenue, report a 
large and increasing demand for their coiled 
wire belts, which for some time past have 
attracted a great deal of attention from practi- 
cal men especially interested in the important 
subject of improvements in the transmission 
of power. The belts, sash cord and patent door 
springs manufactured by the company, who 
are the sole manufacturers of Grears' patent 
coiled wire belts, were awarded "Medals of 
Excellence " at the recent American Institute 
Fair. The striking peculiarities of these belts, 
of which, over 300,000 are now in use, are their 
not being affected by water, oil or temperature, 
their remarkable utilization of power, their 
durability and their maintenance of a perpetual 
tension, from which their name arises. The 
manner in which these results are obtained are 
stated by the manufacturers as follows : 

First. — To correct a wrong impression and 
answer a very common question, we say we do 
not create power. 

Second — But that we do utilize a third higher 
degree of the power expended is certain, from 
the fact that our belts have better adhesion 
than other belts, which is accounted for by 
reason of that part of the coil presented next 
to the pulley being partiaUy or whoUy closed, 
and in coming in contact with a lai^e semi- 
circle frietional surface ; and also by reason of 
the construction of the coil, and its being 
slightly stretched when in use, by which a per- 
petual tension is obtained and maintained, thus 
preventing the loss occasioned by the slipping 
of belts. 

Third — That we accomplish more with a 
given^power, than heretofore, is true, from the 
fact that our belts continually rotate at right 
angles to their line of motion, thus moving 
through the natural atmosphere as a ball from 
a rifled barrel passes through the air w^ith in- 
creased force over that of one projected from a 
smooth bore ; and because, though it may be 
as tight or even tighter when at rest than ordi- 
nary belts, when in motion is flexible and yield- 
ing, and compensates for varying resistance, 
thus turning mandrels in their bearings with 
less friction ; and also for the reason that the 
drawing part of this belt becomes extended, 
while passing round the pulleys, until it passes 
a certain point, then it contracts, paying back, 
as it were, the power expended in extending it, 
which is not the case with other belts. The 
weight of this belt assists it maintaining mo- 
mentum and like the balance wheel is beneficial 
in practice though somewhat ant^onistic to 
theory. 

Fourth — This belt is more durable than other 
belts, because it is made of a material very 
much harder than that which belts are usually 
made of, and because it is worn evenly by rea- 
son of its rotating at right angles to the line of 
its motion ; and also because the peculiar con- 
struction admits of its more readily forming 

itself to the pulleys, especially when moving 
rapidly while passing around the same. The 
wearing and stniin on the wire, by reason of its 
construction, in forming itself by the circum- 
ference of the pulleys, being coiled, is other 
than that of bending a piece of wire, or a rope 
formed of wire. 



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104 



AMERICAN RAILROAD JOURNAL. 



92,'4 933^ 93 



92 



92 92 



New^ York Stock Bxchange. 

(Thursday's quotations fallow money article.) 
Closing Prices Jor the week ending Feb. 15. 

Th.9. F.IO^ Sat.ll .M.13.Tu.W.W.15. 
Adams Express , 148 

I 

^bany and Susq I 

lat mortgage 128 . . . j 

2d mortgage 

American Express.. 

■Atlantic k Pac. Tel. 

Burl.. C. R. A:Nor.. 
lst*mortgage Ss.. 

Canada Southern .. 
1st mortgage guar 

Central of N. Jersey 

1st mort. 1890 

78, consol. ass. . . 
78, convertible asa 

78, Income 

Adjustment 

Central Pacific 91 >i 

68, gold 

Ist M. (San Joaq) I 110 



86 



100 

53 
Mi! 

96,' 
113?^ 



51% 
95 

96)^ 
115:^ 



53 

94^ 

96 '4 



51% 
95 >i 



51?^ 
94 3i 
93^ 



99 >i 

49K 
94 

923^ 



131 i^ 130% im% 130 >^ 130% 130 
103 >i 103^ 



134 133X 



108 
115>^ 



108 



115 



lUii 



oi?i 

114^ 



107^ 107 
91 »^ 91 



1H?« 



107 

90,J^ 



106 Ji 
114 



109 



133 



.L 



• t 



24^ 



135 >i 



24 'i 
82 
135 >,' 



24 »4 

82 '4 



23 *g 
82 
138 



22 >i 
128 >i 



l8t M. (Cal. & Or.) 
Land grant 6s . . . 105 ?i 
Chesapeake & Ohio. 24 »^ 
Ist, series B 81% 

Chicago and Alton. 135 

Preferred .^ '. 

1st mortgage \ 

Sinking Fund ; 

Chi,, Bur. & Quincy l35Ji 135>4 135>i 135% 135>a^ 134 

7s, Consol. 1903 \ 126% 

Chi., Mil. & St. Paul 109% 109% 109*4 108% lOM^i 107^ 



39% 

77 

99 



34% 
73% 

31% 



38% 
75% 
98% 



33% 

72% 

31% 



41% 



122% 121' 



Preferred 121% 

1st mortgage, 88 .\ 

2d mort., 7 3-lOs ....j 

78, gold 

Ist M. (La. C. div) I 

Ist M. L & M. div.) .; 

Ist.M. (L & D. ext.) \ 116% 

let M. (H.&D. div.) , 114 

l8tM.(C. & M.div.) ' 

Consolidated S. F 121 121 



116% 

114 

118 



Chi. & Northwestern 135% 134>^ 133% 133% 133% 133% 
.... 144 144%; 143% 142% 142 142 



Preferred 

Ist mortgage i 

Sinking Fund 68 1 

Consolidated 78 

Consol. Gold bo"ds 126 ! 126 

Do. reg j 

132% 132% 132 



132 
126 

79% 78% 77% 



Chi., R. Isl. & Pac. 133 '.i 13:1 

68. 1917, c 

Clev.,Col.,Cin.&Ind. 80 J^ 

Ist mortgage — 

Clev.& Pittsburg gr 

78, Consolidated 

4th mortgage 

Col.,Chi.,&Ind.Cent. 18% 14% 

1st mortgage 1 130 

2d mortgage : 

Del. & Hud Canal. 108% 108%' 108 ^i 108, 108 

Reg. 7s, 1891 

Reg.7s.l884 

78, 1894 i 



11 'i 10 



9% 10 
130 



107% 



126% 125% 125% 125% 



130% 



96% 
108 

82 



96^ 
107% 
110 

81 



105 

95% 95% 
106% 106% 



107% 

94% 
105% 
198% 



Del.,Lack.& Western 127% 126% 

2d mortgage 7s 

78, Consol. 1907 

Erie Railway 

1st mortgage 

2d mort. 5s, ext 

3d mortgage 

4th mort. 5s. ext 

5th mortgage 

78, Consol. gold.. 130% 

Great West. Ist mort 

2d mortgage 

Hannibal & St. Jo.. 97 

Preferred 109% 

88. Convertible 

Houston & Tex. Cen 

Ist mortgage 

2d mortgage 

Illinois Central . . . 136% 

LakeShore&MichSo 111% 

Consol. 78 

Consol. 78, reg 

2d Consolidated.. 126 
Leh. &W. B. 7s, Con 

Long Dock bonds 1. 

Louisville & Nash. 93% 91% .90 89% 

78, Consolidated . 122 

Manhattan 55% 58 69 59 

Ist pref 95% , 

5f»t. Elevated 90 90 90 89% 

lat mortgage 100% 100% 100% 100% 100% 100% 

Jfichigan Central.. 86% 86% 86% 86% 86% 86% 
78. 1902 



N.V.Oen. &Hud. 

68. 8. F. 1883 

68, S. F., 1887 

1st mortgage 134 

Ist mortgage, reg 

N. Y. Elevated 108 

1st mortgage 116% 

N.Y.& Harlem 

Preferred 

1st mortgage 

Ist mortgage, reg 

N. Y., Lake Erie &W 39% 39% 39?^ 39% 

Preferred 79% 79 78% 76% 

2d Consolidated.. 99% 98% 98% 98% 

New 2d 58 fund 95>4 

N.Y..N.Hav'n&Hart 170 

North Mo. Ist mort 

Northern Pacific 35 35 H 35% 

Prelen-ed 73% 73% 73% 73% 

Ohio & Mississippi. 33% 34% 33% 33% 

Pretnr ed 100 

2d mortgage 

Consolidated 78 

Consol. 8. Fund 118% 

Pacific Mail S. S. Co 44% 43% 43% 43% 42% 

Pacific R. R. of Mo 

1st mortgage 106% 106 

2d mortgage HI 

Panama 1 80 

Phila. & Reading.. 63% 53 63 62% 62% 6i% 

Pitts,Ft.W.&Chi.gtd 134 

Ist mortgage 137 

2d mortgage 

3d mortgage 

Pullman Palace Car 140% 140 138% 137 136% 135 

QuicksU'r Min'g Co 13* 12% 

Preferred 

St. Louis & San Fran 43 42 >^ 42 41 

Preferred 68 60 59 67 

1st Preferred 95 94 95% 

St. L.. Alt'n & T. H 

Preferred 83 

Ist mortgage 

2d mort. prof 105 

Income bonds 

St. L., Iron Mt. &8 

Ist mortgage 

2d mortgage 109% 

Toledo and Wabash* 

1st mortgage 

2d mortgage 106 , 106% 

78, Consolidated 102 

St. Louis DS^ision 

Union Pacific 119 118% 118?^ 117% 117 5^ 117 

Ist mortgage 116% 116% 117 117% 

Land Grant 78 115 

Sinking Fund 88. 122% 122% 

United States Ex 78% 75% 75 76 

Wabash, St. L.& Pac 36% 36% 36% 36 34% 31% 

Preferred 67% 66% 66 ii 61 61% 58% 

New mort. 7s 103 



60 
39% 
56 
91 

32 



Wells-Fargo Ex 126 

Western Pacific b'ds 110 

Western Union Tel. 81% 81% 81% 



128 
110% 
81% 



126% 



136 «^i 

111% 
130 

126% 



135% 
111% 

w • • • ■ 



133%xl32% 131% 
111% 111% 110% 



88% 87% 



7s.,8.Fconv.,1900 118 

Fedebal, Stocks : — 

U. S, 4s. 1907, reg 

U. S. 48, 1907, coup 118% 118% 118 

U. S. 4%8, 1891, reg 113% 

U. S. 4%s, 1891, coup 111% 

U. S. 5s, 1881, reg 

U. S. 68, cont'd at3% 102% 102% 

U. S. 6s cont'd at3% 

Dt. of Col. 3-658, reg 

Dt. ofCol.3-658,coup 



80% 80 



117% 
113% 



102% 



67% 
96 

90 



56 

97 



126 126 



125 



Morns & Essex.... 122 122% 

Ist mortgage 134 

2d mortgage 

7«of 1871 

78, Convertible 

7m, Consoliuated . 



121% 



120% 



Boston Stock Exchange. 

Frica for the Week Ending Feb. 15. 

i I Th.9. F. 10.Sat.ll.M.13.Tu.l4.W. 15. 

Atch.,Top.i:San.Fe. 87% 87% 86% 85% 85% 84% 

Ist mortgage 119 118 

2d mortgage 

Land Grant 7s 115 

Boston & Aibany 168% 167% 167% 167% 

7s reg 

Boston and Lowell 103 103 

Boston & Maine 145% 

Boston& Providence 

Bos'n,Hart.& Erie78 61% 68% 67% 66% 66% 64% 

Burl.& Mo.R.L.G.78 

Burl.t Mo.R.inNeb 

68, erxempt 

48 



87 



Chi..Burl.& Quincy 135% 135% 135% 135% 135^^. 
7s 



Cin.,Sand&Clev($50) 26 

Concord ($50) 100 100% 

Connecticut River 165 

Eastern i 34 33% 33% 

New 4% Bonds 108% 108 S 



.#*.. iFitchburg i:J5% 



25% 25% 24% 



34% 33% 

108% 108% 109 

135 136 135 



N..Y& New England 55 
78 116% 

Northern N. H 

Norwich&Worcester 

Ogden & Lake Cham 

Preferred 



54 



53% 



61 
117 



62 61 
116% 116% 



108 



Old Colony 125 126 126 125% 126 

Ph.,Wil.&Balt.($60). 64 

Portl'd.Saco & Ports 113% 

Pueblo &• Ark Val 

7s 115 . 

Pullman Palace Car 141 139% 137 

Union Pacific 119% 119% 119 118% 117% 117 

68 116 

LandGrant78 112% 

Sinking Fund 8s . 

Vermont & Canada 

Vermont & Mass 

Worcester & Nashua 59 

Cambridge (Horse) 120 

Metropolitan(Hor8e) 76% 76% 74% 

Middlesex (Horse) 

Cal.&HeclaMiu'gCo 230 229 231 230 230 

Quincy 40 41 40% 40 



Philadelphia Stock Exchange. 

Closing Prices for the Week Ending Feb. 14. 

W.8. Th.9. F. 10. Sat.ll. M13. Tu.l4. 

Allegh'y Val. 7 3-108 121 

7b, Income 66 

Camd'n & Am. 6s, '83 

68,1889 

Mort. 6s, 1889 114 

Camden & Atlantic 

Preferred 40 

1st mortgage 

2d mortgage '. 

Catawissa 17% 18 

Preferred 55 

7s, new 

Del. & Bound Brook 130 

78 

Elmira&Williamsp't 

Preferred 



Hunt. & B. Top Mt. 14 

Preferred 27% 

2d mortgage 

Lehigh Navigation . 43% 



13% 

27% 



27% 27 



43% 



43% 44 



62 
123% 



122 



97 

35% 
74 

61% 



Gold Loan 111% 

Railroad Loan 117 

Conv. Gold Loan 

Consol. Mort. 78 116% 

Lehigh Valley 62% 62 62 62 

Ist mort. 68, coup 122% 

1st mort. 68. reg .. 122 122% 122 

2d mort. 7s 

Consol mort. 68 

Con8ol.mtg.68,reg 121 

Little'^'SchuylkiU 68 67 

Minehill&Sch.Hav'n 

North Pennsylvania 64 64 

Ist mortgage 68.. 106 

2d mortgage 7s 119 

Qenl. mtg.78,coup 

Genl. mtg. 78, reg 123 

Northern Central.. 60% 60 

58 

Northern Pacific... 34% 34% 35% 
Preferred 73 73% 73% 

Pennsylvania R. R. 61% 61% 61% 

Ist mortgage 

Uen'l mort 

Gen'l mort reg 

Consol. mort. 68 

Consol. mort. reg 118 

Pa.State 68 2d series 

do 3d series 

do 58, new 116 117 

do 38, 

Phila. & Reading... 31% 31% 31% 31% 31% 

Ist mortgage 6s 119% 

7sofl893 121 120% 

78, new convert 75 

Consol. mort. 7s.. 125 120 

Consol. mort. reg 125 

Gen'l mort. 6s 99% 96% 96% 97% 

Philadelphia & Erie 16 17 17 17 17 

1st mortgage 58 

2d mortgage 78 114 

Pittsb.,Cin.&8t.L.7B 

Pitts.,Titu8v.&Buff. 
78 

Schuylkill Navi't'n. 

Preferred 

68, 1872 

68. 1882 



43% 43% 

...'. iri * 



57 



64 



60 60% 

97% 97% 

35% 34% 

73% 73% 

61% 61 



116% 
31% 



96% 
16 



18% 18% 



18% 
95 



18% 



18% 
95% 



13 



13 



13 



r. 



United Co. of N. J.. 
Hestonville, (Horse) 
CheBtnut&Wal.(do). 
I'lreeu & Coates(do). 



^ ^l^-^--^.ij^.£,- 'm^\^.'. 



12% 

93 ..... 93 93 ' '.'.'..'. '93" 
186% 1^6% 186% 186% 186% 



tidA-Ai.a£^.. 






.f-- 



•r-r. ' 



AMERICAN RAILROAD JOURNAL. 



105 



Baltimore Stock Exchange. 

Closing Prices ftr the Week Ending Feb. 14. 

W. 8. Th.9. F.IO. Sat.ll. M.13.Tu.l4. 

Baltimore & Ohio 

68,1880 

6s, 1885 

Central Ohio ($50) 

1st mortgage 110>i 110>i 

Marietta & Cincin'ti 

Ist mortgage. 7s 125^ 126^ 125)^ 125 

2d mortgage. 78.. 105 >i 106 105>i 105>^ 105 

3d mortgage, 88.. 58^4 58^^ 58 57 56 >^ 

Northern Cen. ($50) 60^ 

2d mort., 69 1885 105 >i 

3d mort.. 6s, 1900 

63. 1900. gold 11* 

6s, 1904, gold 112 

Orange & Alex. 1st 

2d mortgage, 6s 

3d mortgage, 8s 

4th mortgage, 8s 

0.,Alex.4:Mana8's 7s 

Pitts. & ConneU8V.78 121 121 

Virginia 6s, Consol. 62'^ 61% 61% 61 62 61 

Consol. coupons. . 63 14 643^ 63>^ 

10-40 bonds 40 40 39 

Def d Certificates 15)^ 15 

Western Maryland 

1st M.,end.by Bait 

2dM., do 

3dM., do 

lstM.,nnendor8'd 

2dM.,end.WashCo 

2d M., preferred 105.*^ IqS^^ 

City Passenger RR. 41 41 



liOndon Stock Exchange. 



Baltimore & Ohio (sterling) 114 

Do. Adjustment Bonds 104 

Do. Income Bonds 104 

Det.,G'd Haven & Mil. Equip bd8ll2 
Do.Con.M.5p.c.,till'83attr6p.cllO 

Illinois Central #100 shares 135 >i 

Lehigh Valley Cons, mortgage.. 115 

Louisville & Nashville mort 6s. 105 
Do. Sink. Fundbds(S.&N.Ala)102 
Do. capital stock $100 shares. 97 

N. Y. Cent, k Hud. R. mt. bds. .134 

Do. $100 shares 136% 

Do mort. bonds (stg.) 123 

N.Y..Lake Erie & West., $100 shs 42 >^ 
Do. 6 p. c. pref. $100 shares . . 87 
Do. Ist Con. Mort. bds (Erie) .131 
Do. do. Funded Coupon bds. 127 
Do. 2d Consol Mort. bonds. . .101 
Do. do. Funded Coupon bds. . 97 
Do. Gold Income bonds 93 

N.Y.,Pa.& Ohio 1st mort. bonds. 47 
Do. Prior Lien bds (sterling).. 104 

Pennsylvania, $50 shares 63 

Do. Con. Sink Fund Mort 116 

Philadelphia & Reading $50 shs 33 ^4' 

General Consol Mortgage 116 

Do. Improvement Mortgage. .103 
Do.G«n.Mtg.'74,ex-dofdcoup. 99 
Do. Scrip for the 6 def. % coup. 92 

Pittsb. , Ft. W. & Chi. Eq. bds.. . . 105 

St. L. Bridge 1st mort. gold b'd.l26 
Do. 1st pref. stock 102 

Union Pa. Land Grant 1st. mtg.115 

Wabash, St. L. & P. $100 shs 36 

Do. $100 pref. shares 79 

Do. gen. mort. bonds 91 



Closing 

Jan. 13. 
116 
109 
107 
114 
112 
136 >i 
119 
107 
104 

99 
137 
12,1% 
125 

42% 

89 
13J 
129 
103 
100 

95 

48 
108 

64 
118 

33% 
118 
105 
101 

97 
109 
128 
104 
119 

38 

71 

93 



Prices . 

Jan. 20. 
114 116 



104 
104 
112 
110 



109 
107 
114 
112 



138>i 139^ 
115 119 



105 

102 

99 

134 



107 
104 
101 
137 



137 >i 138 >i 
120 122 
42% 43 Ji^ 
84 86 



131 

127 

101 

97 

93 

47 

104 



133 
129 
103 
100 
95 
48 
108 



63 >i 64 >i 
116 118 

30% 31 )i 
116 118 



103 
100 

92 
105 
126 
102 
115 

37 



105 
102 

97 
109 
128 
104 
119 

39 



70>i 71 >^ 
91 93 



AMERICAN .RAIIiROAD JOURNAIj. 



Financial and Commercial Review. 



Thursday Evening, Feb. 16, 1882. 

The quotation for call loans during the day, 
with stocks and collaterals, was 5@6 per cent, 
and on United States bonds Z@^ per cent. 
Prime mercantile paper was 5@,6 per cent. At 
the close the rate for call loan« to the stock- 
holders fell to 3 per cent. 

The posted rates for prime baiakers' Sterling 
were 4.85@90i; the actual rates were 4.84@J^ 
and 4.89J@,3, with cable transfers 4.90|@4.91, 
and prime commercial bills 4.82^(^1. The act- 
ual rates for Continental bills are as follows : 
francs, 5.13J@5.13| and 5.18J@| ; mai-ks, 94| 
©I and 95|@|, and guilders, 40|@40|. 

The details of the plan of reorganizaiion of 
the Marietta and Cincinnati Railroad Company, 
as finally adopted, are given in the weekly cir- 



cular of Messrs. John A. Hambleton & Co., of 
Baltimore. The principal remains as before 
published, the only changes being in the ag- 
gregating of some of the totals. The first 
mortgage bonds of the new or consolidated 
company will amount to $7, 185,000 at 4J per 
cent guaranteed interest, except for $1,250,000, 
which is to go into six per cent bonds for the 
stock of the Cincinnati and Baltimore Railway 
Company. The total of the new second mort- 
gage is $3,040,000; total third mortgage, $2,- 
270,000. , Total first income bonds, $3,410,000 ; 
second incomes, $4,000,000. Holders of bonds 
on depositing them will be assessed to meet re- 
organization expenses. First preferred stock 
gets the same class of security in the new com- 
pany, and for a $2.50 assessment per share will 
receive first incomes. Second preferred is 
similarly dealt with on an assessment of $1 50. 
Common stock goes into new common, and for 
$1 assessment receives equivalent in first in- 
comes. For unpaid fourth mortgage coupons 
and all other claims of the Baltimore and Ohio 
Railroad Company, amounting to $6,038,000, it 
receives one-half in preferred and one-half 
common stock. The Farmers' Loan and Trust 
Company of New York will act as trustees under 
this plan. 

The annual report of the directors of the 
Philadelphia and Erie Railroad Company 
shows that the total revenue for the year 1881 
was, $3,454,309.05, the operating expenses $2,- 
430,060.30, and the net earnings, $1,024,248.75, 
from which extraordinary operating expenses 
for construction of tracks, sidings, shops, &c., 
amounting to $135,278.49, are deducted, mak- 
ing the actual net earnings $888,970.26. To 
the latter sum is added net receipts from rents, 
$4,835.18, making a total net revenue of $893,- 
805.44. From this are deducted chaises for 
maintaining the organization, interest on 
equipment, and drawbacks to the Alleghany 
Valley Railroad, amounting to $211,055.53, 
leaving a balance of $682,749.91. The interest 
paid on the funding debt was $1,077,995, leav- 
ing a deficit for the year of $395,245.09. The 
report states that although the tonage increased 
from 2,810,466 tons in 1879 to 5,277,056 tons in 
1881, or almost 90 per cent, the gross earnings 
for the same period have increased only 18 per 
cent, owing to the steady reduction in rates. 

The net earnings of the Indianapolis Belt 
Railroad Company for the past year, as report- 
ed by the secretary, were in round numbers 
$140,000, of which $80,000 came from the 
stockyards. There is no floating debt, a bond- 
ed debt of $1,000,000, surplus $75,000, besides 
5 per cent semi-annual dividends. The actual 
cash expended in construction, $1,056,000. 
Among the improvements ordered was a $50,- 
000 pork-house, to be leased out, and the ex- 
tension of the Belt Company to the Wabash, 
St. Louis and Pacific Railway. ■. 

The Massachusetts State Auditor reports that 
the cost to that State of the Southern Vermont 
Railroad to December 31, 1881, was $417,500, 
and that it has received from it in rents, $235,- 
139, leaving the net cost at $182,361. Of the 
income $224,806 has been placed to the credit 
of the Troy and Greenfield Railroad loan and 
$10,332 to the credit of the sinking fund of 
that loan. 



A financial exhibit was presented by the 
Mayor to the City Council of Charleston, S. C, 
on the 14th inst. showing a reduction of the 
total municipal debt in the last ten years from 
$5,250,000 to $4,250,000, and a reduction of the 
annual interest from $315,000 to $185,000. 

The formal transfer of the Jersey Shore, Pine 
Creek and Buffalo Railroad from the control of 
the Philadelphia and Reading Railroad Com- 
pany to that of the New York Central and 
Hudson River Railroad Company took place on 
the 9th inst. 

A mortgage for $15,000,000 was filed on the 
13th inst., by a representative of the New 
York, Chicago and St. Louis Railroad Co., 
with the Recorder of each county through 
which that that road runs. The bonds, which 
bear 6 per cent interest, are payable December 
1, 1921. Both principal and interest are pay- 
able in gold coin. This is the first debt of the 
company that has been recorded — all the 
money hitherto required for right of way, 
grading and construction having been supplied 
by the stockholders. The proceeds of the 
above mortgage are to be applied towards ob- 
taining farther terminal facilities, construct- 
ing depots, and supplying the road with the 
necessary equipment. 

At a meeting of the stockholders of the Pe- 
tersburg Railroad Company held at Petersburg, 
Va., on the 6th inst., the exchange of old sec- 
ond mortgage 8 per cent bonds of the com- 
pany, amounting to about $490,000, for new 
issue 6 per cent bonds was perfected on satis- 
factory terms. 

The only obligations of the State of Illinois 
now outstanding are about $20,000 of bonds, 
which have been called in but have not yet 
been presented for payment. The money is in 
the Treasury to pay them whenever they may 
be presented, and in the meantime they have 
ceased to draw interest. 

At the annual meeting of the stockholders 
of the Boston and Albany Railroad Company 
on the 8th inst., it was voted to amend the by- 
laws so that transfer books shall be closed 30 
instead of 15 days before the declaration of a 
dividend. ' ; 

The Secretary of the Treasury issued on the 
8th inst, the 108th call for the redemption of 
bonds. The call is for $20,000,000 of con- 
tinued sixes, the principal and accrued interest 
of which will be paid on the 8th of April next, 
after which date interest Mvill cease. The bonds 
are designated as follows : registered bonds of 
the acts of July 17 and August 5, 1861, contin- 
ued during the pleasure of the Government 
under the term of Circular No. 42, April 11, 
1881 : to bear interest at the rate of three and 
one-half per centum per annum from July 1, 
1881, $50, Nos. 1,951 to 2,150, both inclusive ; 
$100, Nos. 13,701 to 14,700, both inclusive; 
$500, Nos. 10,001 to 10,700, both inclusive; 
$1,000, Nos. 49,901 to 51,600, both inclusive ; 
$5,000, Nos. 16,151 to 16,850, both inclusive ; 
$10,000, Nos. 32,551 to 34,950, both inclusive. 
Total, $20,000,000. Many of the bonds origi- 
nally included in the above numbers have been 
transferred and cancelled, leaving outstanding 
the amount above stated. 

The gross earnings of the Buffalo, Pittsburg 
and Western Railroad Company for the year 



:' *^vt./...> .,' ..'^ 



k^^A^.^^ 



*" .7»,+M%i!""*i^.V»'SW 



106 



vrvfTW^f' 



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-latwj^V /It!" ;•'■"'• yj.'ill'** ' 4 ►•"■ .» ^^T •~'^,~.'*v'aTOl ■'7S!r-'J?T 



AMERICAN RAILROAD JOURNAL. 



1881, were $598,968.43, the expenses $354,275.- 
67, and the net earnings $244,692.76 ; to which 
are added *' credit to the balance of interest ac- 
count received in cash balance of reserve fund, 
the difference between values of securities re- 
ceived under the merger and cost of the Titus- 
ville and Oil Creek railroads, from which are 
deducted interest on bonds of the Union and 
Titusville, Warner and Franklin, Oil Creek, 
Buffalo, Chautauqua Lake and Pittsburg, and 
premiums on conversions of bonds, giving bal- 
ance to the credit of protht and loss at the end 
of the year of $29,632.17*" ! I 

The taxpayers of Smithtown, Long Island, 
have decided that the bonds given by the town 
to assist the Long Island Railroad Company to 
build their road through the town were > made 
in good faith, and should be paid in full, unless 
some arrangement can be made by whi(^ the 
interest, which is now seven per cent, can be 
reduced. 

The stockholders of the Danbury and Nor- 
walk Railroad Company have voted unanimous- 
ly to accept the amendment to their charter 
authorizing the extension of the road to the 
JSouiid ; also to accept the resolution passed at 
the'present session of the Legislature authori- 
zing the issue of $100,000 of bonds for the pur- 
pose of paying for, in part, the cost of such ex- 
tension. The President of the road was au- 
thorized to sign the moitgage to secure such 
bonds. . ! ^ I 

In the case of the Hannibal and St. Joseph 
Railroad Co. vs. the State of Missouri, in which 
application was made for an injunction re- 
straining the Governor from selling the road 
for alleged default in the payment of interest 
on certain bonds. Justice Miiler, of St. Louis, 
decided in favor of the State, but advised both 
parties to get together and settle the matter 
amicably. 

The Supreme Court of Tennessee has de- 
cided the recent act of the Legislature to settle 
the State debt at par and three per cent inter- 
est to be constitutional — holding that the Leg- 
islature had no power to make the coupons on 
said bonds receivable for taxes for 99 years. 
Application has been made to have the fund- 
ing proceed with ordinary coupons. 

Ground was broken on the 15th inst. at Mo- 
jave, on that section of the Atlantic and Pacific 
Riiilroad to be built by the Southern Pacific 
Company, from Mojave to Needles, on the Col- 
orado River. 

The closing quotations on Thursday were : 
Adams Express, 145@,147; American Express, 
90@92 ; Chicago, Burlington and Quincy, 133^ 
@,134^ ; Canada Southern, 50i@50^; Chicago 
and Northwestern, 133i@133J;do. pref., 142^® 
143 ; Chicago and Alton, 128J@129 ; Central 
of New Jersey, 92@92i; Central Pacific, 90J@ 
90|; Chicago, Milwaukee and St. Paul, 108@ 
10«i ; do. pret, — @122J ; Columbus, Chicago 
and Indiana Central, 10|@10^ ; Delaware and 
Hudson Canal, 106|@107 ; Delaware, Lacka- 
wanna and Western, 125J@125J ; Hannibal and 
St. Joseph, 93|@94 ; do. pref., 90@— ; Illi- 
nois Central, 132@133 ; Lake Erie and West- 
em, 29J@29J ; Lake Shore and Michigan 
Southern, 111@111| ; Metropolitan Elevated, 
86i@88^ ; ilanhattan Elevated, 57®57J ; do. 
1st pref., 94@95J ; Michigan Central, 85|0 



85 J; New York Elevated, 105@107i; New York, 
Lake Erie and Western, 39@39J ; do. pref., 
^6@76^ ; New York Central and Hudson River, 
130J@130| ; Northern Pacific, 34@34i ; do. 
pref,, 13(a)/73^ ; Ohio and ilississippi, 31|@ 
32; Pacific Mail, 41i@41|; Texas and Pacific, 
43J@43| i Union Pacific, 117i@117| ; United 
States Express, 75@76; Western Union Tele- 
graph, 80i@80| ; Wabash, St. Louis and Pacific, 
32|@32J; do. pref., 59^@59| ; Wells-Fargo Ex- 
press, 123@129. 

The following quotations of sales of railway 
and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 

New York. — Atchison, Colorado and Pacific 
1st, 97 ; Belleville and Southern Illinois 1st, 
123 ; Boston and New York Air Line pref., 68 J; 
Chicago and Northwestern S. F. 5s, 101 J^; Cairo 
and Fulton 1st, 107^ ; Chesapeake and Ohio 
Istpref., 33^; do. 2d pre!., 23 ; do. cur. int., 
50; Chicago, St. Paul, Minneapolis and Omaha, 
34}; do. pref., 100 ; do. consol., 100}, Cedar 
Fallsfand Minn., 16 ; Columbia and Greenville 
pref., 93 ; do. 1st, 105; Central Iowa 34^ ; Chi- 
cago, St. Louis and New Orleans, 81 ; Colum- 
bus, Chicago and Indiana Central Inc., 57; do. 
1st Trust Co. certif. ass. sup., 119 ; Chicago, 
Milwaukee and St. Paul Chicago and Pacific 
div., 1st, 107; do.^S. M. div. 1st, 103^ ; Chici\go, 
Burlington and Quincy 8s, 103A ; Cleveland and 
Toledo S. F., 107^ ; Chicago and Milwaukee 
1st, 119 ; Duluth and Sioux City, 79 ; Denver 
and Rio Grande 67 1 ; do. 1st, 113; do. Ist consol., 
103^ ; East Tennessee, Virginia and Georgia, 
13^ ; do. pref., 21^; do. inc., 54 ; do. 1st, 115; 
do. 5s, 77 ; Evansville, Henderson and Nash- 
ville 1st, 102^ ; Evansville and Terre Haute 
1st, 96 ; Green Bay, Winona and St. Peter 
8; do. 1st, 90^ ; Gralveston, Harrisburg and San 
Antonio 2d, 109 ; Gulf, Colorado and Santa 
Ee 1st, 106} ; Hudson River R. R. 2d S. F., 
IIOJ ; Houston and Texas Central 1st, Western 
div., ia7} ; Hannibal and Central Mo. 1st, 108; 
Hannibal and St. Joseph 6s, consol., 109^ ; 
Indiana, Bloomington and Western, 41; do. 1st, 
89 ; Indianapolis, Decatur and Springfield 1st, 
104 ; International coup. 6s, 90 ; Kansas Pacific 
Ist consol., 102^; do. 68, Denver div. ass., 108^; 
Keoknk and Des Moines 1st, 105| ; Lafayette, 
Bloomington and Muncie 1st, 106; Louisville 
and Nashville Gen'l mort., 6s. 96 ; do. 2d, 103; 
Long Island, 51 ; Lake Erie and Western, 30; 
do. inc., 51 ; Louisville, New Albany and Chi- 
cago, 70J; do. 1st, 102 ; do. consol., 123 ; Le- 
high and Wilkesbarre Inc., 90 J ; Manhattan 
Beach, 29 ; Marietta and Cincinnati Ist pref., 
13 J; do. 2d pref., 7 ; Mobile and Ohio, 28 ; do. 
1st debeb., 92; do. Ist, 112^ ; Missouri, Kansas 
andTeras, 32| ; do. consol., 103^ ; do. 2d, 67; 
do. gen'l mort. 68, 78 ; Missouri Pacific, 101^; 
do. Ist consol. 101 ; do. 3d, 112 ; Memphis 
and Charleston, 67} ; Milwaukee, Lake Shore 
and Western, 46 ; do. inc., 76 ; Minneapolis 
and St. Louis 1st, 115 ; do. 1st, Iowa Ext., 
11 1^ ; Michigan Central 58, 97 ; Metropolitan 
Elevated 2d, 90^ ; Michigan Southern S. F., 108; 
Northern Pacific Ist, 97 ; New York, Penn. 
and Ohio inc., 42 J ; Nashville, Chattanooga and 
St. Louis, 74; do. Ist, 115} ; New York, Ontario 
and Western, 25 ; Norfolk and Western pref., 
54 J; do. Gen'l mort., 103 ; New Jersey R. R. 
and Transp. Co., 185 ; New Orleans Pacific Ist, 



91 ; New York City and Northern Gen'l mort., 
80 ; Ohio Central, 18.i ; do. inc., 38 J ; do. 1st, 
90|; Oregon Railway and Nav., 134 ; do. 1st, 
107 ; Oregon Transp., 69^ ; Ohio Southern, 18; 
do. 1st, 90 ; Peoria, Decatiar and Evansville, 
29|; do. inc., 41|; Rochester and Pittsburg. 
29^; do. inc., 41 1 ; Richmond and Allegany, 
29^; do. 1st, 93 ; Richmond and Danville, 222 ; 
do. W. P., 261^ ; do. 68, 106^ ; Rome, Water- 
town and Ogdensburg, 20 ; do. consol. 91 ; St. 
St. Louis, Alton and Terre Haute dividend 
bonds, 50^ ; St. Louis and San Francisco 2d, 
Class B, 89^; do. C, 88 t Scioto Valley 1st, 102; 
St. Paul and Duluth, 26 ; do. pref., 71 ; St. 
Paul, Minneapolis and Manitoba, 106 ;do. 1st, 
109 ; do. 2d, 105^ ; do. 1st, Dakota Ext., 106 ; 
St. Louis, Iron Mountain and Southern, Ar- 
kansas Branch 1st, 108 ; do. Cairo, Arkansas 
and Texas 1st, 108^ ; Southern Pacific of Cal- 
ifornia Ist, 104}; St. Paul and Sioux City 1st, 
112^ ; Toledo Delphos and Burlington, 10^ ; 
do. inc., 20 ; Texas and Pacific, 43} ; do. inc. 
L. G., 64 ; do. 1st, 108^ ; do. Rio Grande div. 
1st, 80 ; Toledo, Peoria and Western 1st, 111 ; 
Utah Southern Gen'l mort. 7s, 106^ ; Wabash, 
St. Louis and Pacific Gen'l mort. 68, 85^ ; do. 
do. Chicago div. Is, 86 ; do. Iowa div. 1st, 92 : 
Winona and St. Peter 1st, 109} ; Arkansas 6s, 
fund.. 32 ; Alabama, Class A, 80 J ; do. C, 85; 
Missouri 6s, 1888, 109^ ; do. 6s, H. & St. J. 
issue, 102 ; Louisiana consol. 7s, 66^ ; Ten- 
nessee 6s, old, 53 ; do. new, 53 ; Virginia 6s, 
def., 14; Am. Dist. Tel., 47 ; Colorado Coal and 
Iron, 41; do. 6s, 86; Consol. Cofil, 31; Maryland 
Coal, 18 J; New Central Coal, 17 ; Sutro Tunnel, 

I ; Caribou, 2 ; Central, 1^; Little Pittsburg, 

II ; Robinson, 2|; Standard, 17. 
Philadelphia. -Am. S. S. Co. 6s, 107i ; Belvi- 

dere Delaware 3d, 105 ; Central Transporta- 
tion, 36 ; Huntingdon and Broad Top Mt. con- 
sol. 58, 89; Morris Canal, pref., 169 ; Nesqueh- 
cning Valley, 57^ ; New Orleans Pacific 6s, 
91} ; Philadelphia and Reading scrip, 84 ; Phil- 
adelphia City 6s, old, 1883, lOli ; do. 1889, 112; 
do. 1890, 113^ ; do. 1892, 114^; do. 6s, new, 
1889, 119 ; do. 1895, 126 ; do. 1898, 126; do. 
1902, 130 ; do. 48, 112 ; Philadelphia, German- 
town and Norristown, 106J ; Pennsylvania Co. 
4^8, 98 ; Susquehanna Canal pref. 68, 75; Steu- 
benville and Indiana 9s, A. &.O., 104 ; St. Paul 
and Duluth pref., 70 ; Sunbury, Hazleton and 
Wilkesbarre 1st, 5s, 95 ; Texas and Pacific 1st, 
107 ; West Jersey and Atlantic 6s, 111^. The 
latest quotations are : City 6s, 118@118 ; do. 
free of tax, 125(^130 ; do. 48, new, 102@113; 
Pennsylvania State 68, 3d series, 100^@101;do. 
5s, new loan, 116}(^117 ; do. 4s, old, 110@112; 
do. 4s, new, 114@114i; Philadelphia and Read- 
ing R. R., 31@31i; do. consol. mort. 7s, reg., 
125@— ; do. mort, 6s, 119@120 ; do. gen'l 
mort. 6s, coupon, 96^@96|; do. 7s, 1893, 120@ 
120 J ; do. new, conv., 74@76; United New Jer- 
sey R. R. and Canal,.185^@186|; Buffalo, Pitts- 
burg and Western, 18|@18J ; Pittsburg, Titus- 
ville and Buffalo 7s, 94J@96 ; Camden and Am- 
boy mort. ^8, 1889, 113^@114} ; Pennsylvania 
R. R., 61@61J; do. general mort. 68, coupon, 
123^@124i ; do. reg., 122J©123i ; do. consol. 
mort. 6s, reg., 117J@118; Little Schuylkill R. 
R. 57@57i ; Morris Canal, 65@69 ; do. pref., 
166i@169 ; Schuylkill Navigation, 5i@6 ; do. 
pref., 12}@13 ; do. 6s, 1882, 92@94 ; do. 1872, 



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r^_ >TK^.!V^-7T-^ -7«r; 



AMERICAN RAILROAD JOURNAL. 



107 



107@108 ; Elmira and Williamsport pref., 58 
@65 ; do. 63, 115@— ; do. 5s. 99@100; Leliigh 
Coal and Navigation, 43J@43| ; do. 6s, 1884, 
105@105.J ; do. R. R. loan, 116@118 ; do. Gold 
Lojm, ll'l^@ir2i ; do. consol. Ts, 116.\(^117 ; 
Northern Pacific, 3^@3^ ; do. pref., 73.J@ 
73 1 ; North i'ennsylvania, 63^@64i ; do. 6s, 
105i@106^; do. 7s, 119@120; do. General mort. 
7s, "reg., 121@123 ; Philadelphia and Erie, 15^ 
@16i ; do. 78, 114@115 ; do. 5s, 105@106 ; 
Minehill, 61^@62 ; Catawissa, 17^@18^ ; do. 
pref., 54^@55^ ; do. new pref., 53@54^ ; do. 
7s, 1900, 116^@- ; Lehigh VaUey 62@62^ ; do. 
6s, coupon, 123i@123J ; do. reg., 123@123^ ; 
do. 2d mort. 7s, 134@— ; do. consol. mort. 
121^@122i; Fifth and Sixth streets (horse), 149 
@150; Second and Third, 111@115; Thirteenth 
and Fifteenth, 75@80 ; Spruce and Pine, 45 
@50 ; Green and Coates, 80@85; Chestnut and 
Walnut, 90@94 ; Germantown, 60@70; Union, 
110@115 ; West Philadelphia, 107@109 ; Peo- 
ple's 13@13i^ ; Continental, 100@103. 

J5a;/ijnore.— Atlantic Coal, 1.05 ; Atlanta and 
Charlotte, 1st, 109^, do. inc., 98 ; Baltimore City 
6s, 1890, 116 ; do. 6s, 1886, 107^ ; do. 6s, 1900, 
128^ ; do. 5s, 1916, 121 & ; do. 5s, 1894, 114 ; do. 
5s, 1900, 128 ; Baltimore and Ohio 2d pref., 
121 ; Columbia and Greenville, 1st, 103J ; do. 
2d, 93 ; Charlotte, Columbia and Augusta, 74:f ; 
Maryland Defense bs, 103.] ; North Carolina 
consol, 4s, 81 ; Ohio and Mississippi, Spring- 
field div. 1st, 121^ ; Parkersburg branch, 8 ; 
Richmond and Danville, gold bonds, 105i| ; 
Richmond, York River and Chesapeake, 100 ; 
Virginia Midland, old 140 ; do. pref., 150 ; 
do. 1st mort., 115 ; do. 2d mort., Ill ; do. 5th 
mort., 98 i ; Virginia Black scrip, 33 ; do. 
Peelers, 39 ; do. Peelers coupons, 372- The 
latest quotations are : Atlanta and Charlotte, 
1st, 109 J@ 109 1 ; Baltimore and Ohio, 195@ 
200 ; Baltimore City 6s, 1890, 116@116^ ; do. 
1900,— 128| ; 5s, 1884. 114@115^ ; do. 5s, 1916, 
121J@122 ; Columbia and Greenville 1st, 103| 
@.03|; Marietta and Cincinnati 1st, mort., 
124|@126 ; do. 2d, 105@105i ; do. 3d, 56f 
@56| ; Northern Central 50@50| ; do. 6s, 
1885, 105i@106 ; do. 6s, 1900, gold, 114@114J ; 
do. Os, 1904, gold, 111^@112 ; do. 5s, 1926, 96| 
@97\ ; Ohio and Mississippi, Springfield div., 
1st, 121^@12l| ; Pittsburg and Cornellsville, 
7s, 120@121^ ; Virginia Midland 5th mort, 95J 
@98 ; Virginia consols. 605(gj61 ; do. 10.40s, 
40@40J. 

Boston. — Atlantic and Pacific 6s, inc., 25; 
Atchison, Topeka and Sante Fe, mort., 5s, 95; 
Boston Land, 7^ ; Boston Water Power, 5| ; 
Burlington and Missouri River in Nebraska 6s, 
non-exempt, 103 ; Chicago, Burlington and 
Quincy 5s, 1901, 102 ; do. 4s, Denver ext. 
83J ; Connecticut and Passumpsic Rivers R. R., 
92 ; Cheshire R. R., 58 ; Connotton Valley, 7s, 
17| ; do. 78, 87 ; do. 78, StraitsviUe div., 75 ; 
Central of Iowa, 34^ ; Detroit, Lansing and 
Northern pref., 112^ ; Flint and Pere Mar- 
quette, pref., 94; Iowa Falls and Sioux City, 
82; Kansas City, Fort Scott and Gulf, 7s, 111^ ; 
Kansas City, Lawrence and Southern 5s, 105 ; 
Kansas City, St. Joseph and Council Bluffs 
78, 115 J ; Little Rock and Fort Smith, 59f ; do. 
78, 111 ; Louisiana and Missouri River, 13J ; 
Marquette, Houghton and Ontonagon, 60 ; 
Massachusetts Central, 19; do. 6s, 92^; Maine 



Central, 42 ; Manchester and Lawrence. 166.] ; 
Mexican Central 7s, 80 ; do. blocks, new, 92; 
New York and New England 6s, 106^; New 
Mexico and Southern Pacific 7s, 113 ; Rutland, 
3 J ; do. pref., 24|; Sonora, 23; do. 1st 7s, 85; 
Summit Branch, 13; Toledo, Delphos and 
Burlington, 5} ; do. inc. 16; do. 6s, 52; do. 6s, 
Dayton dis., 15^^; S. E. div. 6s, 64|; do. inc. 
6s, 14}; Union Stock Yard Co., 165; Wisconsin 
Central, 17; Allouez Mining Co., 2^; Atlantic, 
13]; Brunswick Antimony, 14; Copper Harbor, 
4i; Franklin, 11; Harshaw, 3}; Huron, 2; Na- 
tional, 2 J; Osceola, 32; Phcenix, 3|; Pewabic, 
13|; Ridge, 50c.; Silver Islet. 20] ; Sullivan, 2^. 



The Coal Trade. 



Cincinnati Iron Market. 



Office of E. L. Habper & Co. 

Cincinnati, Feb. 14, 1882. 

A STEADY even tone has characterized the 
market with a fair amount of business .and no 
material alteration in value. 
We quote as follows : 

FOUNDBT. 

No. Mos. 

Hanging Rock Charcoal 1 29 50@30 75 4 

Strong Neutral Coke 1 27 00@28 00 4 

American Scotch 1 26 50@27 50 4 

OBEY FOBGE. 

Neutral Coke 25 80@26 50 4 

Cold Short 24 00®25 00 4 

CAB WHEEL AND MALLEABLE. 

Hanging Rock Cold Blast 36 00@38 00 4 

Warm Blast 30 00r^32 00 4 

Lake Superior 1 and 2 32 00@33 00 4 

Lake Superior 3 fo 6 34 00@36 00 4 

Southern Car Wheel 36 00^40 00 4 



Coal Mines in China. 



The opening of coal mines in China has 
been undertaken in two distinct places, one at 
Keelung, in the Island of Formosa, and the 
other at Kaiping, near Tientsin, in North 
China. The first, which is purely a Govern- 
ment affair, was undertaken in 1876, with the 
assistance of an English mining engineer, sup- 
ported by a staff of eight or ten foreign work- 
men. The ordinary mining engines and appa- 
ratus in use at home are employed. Until re- 
cently, at all events, this has not been a great 
commercial success. Much complaint was at 
first made by the engineer of the difficulty in 
getting the consent of the superintending na- 
tive officials to extra expenditure or alteration, 
even when he considered it imperative, but un- 
der a change of management things seem to 
work more smoothly. The want of a conven- 
ient place of embarkation is also a great draw- 
back, and there has been at times a difficulty in 
getting native hewers in sufficient numbers to 
work the openings owing to the great mortality 
hat often prevailed. The output has, how- 
ever, increased from 14,000 tons in 1878 to 
nearly 30,000 for the first six months of the 
current year, and with one or two more shafts 
it might be increased to 500 tons a day. The 

coal is of fairly good quality, and sells, taking 
large and small together, at $2.50 a ton, the 
cost of working being put down at $1.34 a ton. 
— London Times. 



Its chu chu to go ahead, and elm chu to 
back-'er. 

Mike, up on beingtold to leave his dirty hands 
in the basin, replied: " An phfat should I lave 
me hands in the basin fur: phat would I do with- 
out me hands ?" 



The leading coal carrying companies make 
the following reports of their tonnage for the 
week ending Febrv\arj' 4, and for the year td 
same date, compared with their respective 
amounts carried to the same time last year: 

Week 1882 18H1 

Reading Railroad 146.610 1,361,336 1.103.148 

SchuylkiU Canal 27,665 

Lehigh VaUey 102,759 1 ,033,828 820,4i>4 

Delaware, Lackawanna and 

Western 73,891 342,976 311.161 

Shamokin 19.173 86,969 88,441 

Central R. R. of New Jersey.. 41,061 313,618 276,438 

United R. R. ot New Jersey.. 31,820 139,874 129,077 

Pennsylvania Coal 17,769 83.561 81,337 

Delaware and Hudson Canal.. 74,129 -283,636 267,024 
Huntingdon and Broad Top 

Mountain 12,647 58,621 42.074 

Penn. and New York 23.472 261.160 205,334 

Clearfield, Pa 42,796 227,798 165.388 

The total tonnage of anthracite coal from all 
the regions for the we^k ending February 4, 
as reported by the several carrying companies, 
amounted to 408,137 tons, against 403,994 tons 
in the con-esponding week last year, an increase 
of 64, 1 43 tons. The total amount of anthra- 
cite mined for the year is 2,124,943 tons, against 
1,969,024 tons for the same period last year, an 
increase of 155,919 tons. The quantity of bi- 
tuminous coal sent to market for the week 
amounted to 89,705 tons, against 59,068 tons 
in corresponding week last year, an increase 
of 30,637 tons. The total amount of bitumin- 
ous mined for the year is 396,015 tons, against 
295,096 tons for the corresponding period last 
j'ear, an increase of 100,919 tons. The total 
tonnage of all kinds of coal for the week is 
557,842 tons, against 463,062 tons in corre- 
sponding week last year, an increase of 94,780 
tons, and the total tonnage for the coal year is 
2,520,958 tons, E^ainst 2,264,120 tons to same 
date last year, an increase of 256,838 tons. The 
quantity of coal and coke carried over the 
Pennsylvania Railroad for the week ending Feb- 
ruary 4 was 206,480 tons, of which 154,154 
tons were coal and 52,326 tons coke. The total 
tonnage for the year thus far has been 1,017,051 
tons, of which 727,204 tons were coal and 289,- 
847 tons coke. These figures embrace all the 
coal taid coke carried over the road east and 
west. The shipments of bituminous coal from 
the mines of the Cumberland coal region dur- 
ing the week ended February 4 were 40,394 
tons, and for the year to that date 191,083 tons 
an increase of 66,838 tons as compared with the 
corresponding period of 1881. The coal was 
carried to tidewater as follows : Baltimore and 

Ohio Railroad — week, 33,599 tons ; year, 156,- 
865 tons ; increase compared with 1881, 49,449 
tons. There were no shipments by canal. 
Pennsylvania Railroad — week, 6,632 tons ; year, 
33,342 tons ; increase compared with 1881, 16,- 
514 tons. The Reading Railroad shipment for 
last week, ending February 11, was 92,000 tons, 
of which 8,780 tons were sent to and 11,600 
tons shipped from Port Richmond, and 12,750 
tons sent to and 16,203 tons shipped from Eliza- 
bethport. — Phil. Ledger, Feb. 13. 



An old lady traveling in a car with her maid 
and her poodle was singing the latter's praise 
very loudly: "It's such a sweet creature — 
worth a world of human beings to m€ !" The 
cabby charged a treble fare. "No, no!" ex- 
postulated the old lady, "there is only myself 
and my maid." " And the dog, Ma'am. I've 
acted very fair, an' only set it down as ekal to 
one human." 



108 



i AMERICAN RAILROAD JOURNAL. 



.'t". 



statement of the Public Debt of the 
United States, February 1, 1882, 



DEBT BEARING rNTEBEST.. 

Amount 

Outstanding. 
6 per cent loan, 18G1-'81, 

continued at 3>^ per ct. $81,624,(200 00 
6 per cent loan 1863-'81 

continned at 3'^ per ct 47,855, TOO 00 
5 per cent funded loan of 

1881 401,503.900 00 

4>i per cent funded loan 

of 1891 250,000,000 00 

4 per cent ftinded loan of 

1907 738,788,750 00 

4 per cent refunding cer- 
tificates 559.100 00 

3 per cent navy pension 

fund 14,000.000 00 



Accrued 
Interest. 

$238,070 58 

139,579 12 

3,513,145 47 

1.875,000 00 

2,462,629 00 

. ,1.863 67 

35,000 00 



4l2,400 00 110,073 76 
407,800 00 15,650 92 



Aggregate of debt bear- 
ing interest $1,534,331,600 00 .■? 8,265,287 84 

Interest due and unpaid 1,953,000 31 

DEBT ON WHICH INTEBEST HAS CEASED SINCE MATUBITT. 

Amount Interest due 
Outstanding. & uupaid. 

4 to 6 per cent, old debt, 1837. $5[i,G65 00 $64,174 81 

5 per cent. Mexican indem- 
nity stock. 1846 1,104 91 85 74 

6percent. bonds, 1847 1,250 00 22 00 

6 per cent, bounty land scrip, 

1847 3,275 00 213 OC 

5 per cent. Texas indemnity > 

bonds, 18.50 30.000 00 2,945 00 

5 per cent, bonds, of 18.58 8,out» 00 

6 per cent, bonds, of 1860 |0,000 00 600 00 

6 per cent. 5-20 bonds, 1862, 

called 370,700 00 8,439 82 

6 per cent. 5-20 bonds, June, 

1864, called 58,650 00 170 95 

6 per cent. 5-20 bonds, 1865. 

called 76,750 00 18,895 79 

5 per cent. 10-40 bonds. 1864, 
called 

6 per •■'iut. Consol. bonds, 

1866, called 

6 per cent. Consol. bonds, 

1867, called 1,09^7,550 00 204,112 15 

per cent. Consol. bonds, 

1868, called 298,950 00 23,759 12 

6 per cent, loan, Feb. 8, 1861, 

matured Dec. 31, 1880 100,000 00 5.430 00 

per cent, funded loan 1881, 

caUed 2,742,200 00 70,653 12 

Oregon War Debt, March 2, 

1881, matured July 1, 1881. 129,150 00 6,202 50 

6 per cent loan of July 17 and 

Aug. 5, 1861. matured June 

30, 1881 

6 per cent loan of July 17 and 

Aug., 5 1861, c(mtiuued at 

3>i per cent, matured Dec. 

24, 1881, and Jan. 29, 1882, 

called....' 6.316,150 00 29,530 06 

6 per cent, loan of March 3, 

1863,matured June 30. 1881. 268,650 00 7,093 50 

1-10 to 6 per cent. Treasury 

notes, prior to 1846 8?.525 35 2,668 06 

1-10 to 6 per cent. Treasury 1 

notes, 1846 6,000 00 206 00 

6 per ct. Treasury notes, 1847. 950 00 57 00 

3 to 6 per cent. Treasury 

notes, 1857 1.700 00 99 00 

6 per ct. Treasury notes,1861. 3,000 00 364 50 

7 3-10 percent. 3 years' Treas- 
ury notes, 1861 16,300 00 1,104 43 

3 per cent. 1 year notes,1863.. 43,085 00 2,166 35 

5 per cent. 2 year notes. 1863. 34,200 00 1,729 80 

6 per ct. compound interest 
notes, 1863-64 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1864-65 

6per cent, certificates of in- 
debtedness. 1862-63 

4 to 6 per cent, temporary 

loan, 1864 2,960 00 244 19 

^per cent, certificates, caUed. 5,000 00 394 31 



914,850 00 35.077 50 



234,290 00 45,779 89 

140,900 00 4,752 92 

^4,000 00 253 48 



I RECAPITULATION. 



Debt bearing intierest in 
coin, viz : 

Bondsat Gpercent., con- , 
tinned at 'Ai-i per cent. 

Bonds at 5 per cent, con- 
tinued at 3>^ percent. 

Eonds at Hi per cent 

Bonds at 4 per cent 

Refunding certificates... 

Navy pension fund, 3 p.c 



Amount 
Outstanding. 



$129,479,900 00 

401.503,900 00 

250,000,000 00 

738,788,700 00 

579,100 00 

14,000,000 00 



Interest. 



$1,5.34.331.600 00 $10,218,348 15 
Debt on which interest has 
ceased since maturity . 13,920,005 26 662,949 73 



Debt bearing no int., viz: 
Old demand and legal- 
tender notes $346,740,906 00 

Certificates of 'deposit 1 1 ,400,000 00 

Coin & silver certificates. 74,187,790 00 

Fractional currency 7,069,493 67 



Unclaimed interest. 



$439,398,189 67 



7,256 51 



$1,987,649,794 93 $10,888,554 39 

Total debt, principal and interest to date, 
including interest due and unpaid. . . $1,998,538,349 32 

^ AMOUNT IN TREASURY. 

Interest due and unpaid $1,953,060 31 

Debt on which interest has ceased 13,020,(X)5 26 

Interest thereon 662.949 73 

Gold and silver certificates 74,187,790 00 

U. S. notes held for redemption of cer- 
tificates of deposit 11,400,000 00 

Cash balance available February 1, 1882. 143.901,663 29 

$246,025,468.59 
Debt, lessarfi't in Treas'y Feb. 1, 1882... $1,765,491,717 09 
Debt, less am't in Treasury Feb. 1,1882.. 1,752,512,880 73 



Aggregated of debt on which 

Interest has ceased since ' 

maturity $13,920,005 26 $662,949 73 

DEBT BEARING NO INTEREST. 

Demand notes, 1861-62 $39,890 00 

Legal tender notes. 1862-63. . .. 346,681.016 00 

Certificates of Deposit 11,400,000 00 

Coin certificates. 1863 5,188,120 00 

Silver certificates, 1878 68.909,670 00 

Unclaimed interest 

Fractional currency, 1862, 
1863 and 1864 $15,445,427 67 
Less amount es- 
timated as lost 
or destroyed, 
act of June, 
21 , 1879 8,375,934 00 

7 060,493 67 



7,256 51 



Aggregate of debt bearing no 
InterMt $439,398,189 67 $7,266 51 



Decrease of debt during the month $12 978,836 36 

Decrease of debt sim^e June 30. 1881 .... $88,085,931 25 

BONDS ISSUED TO THE PACIFIC RAILROAD COMPANIES, IN- 
TEREST PAYABLE IN LAWFUL MONEY. 

Accrued- 
1 I Amount Interests 

Outstanding. not paid. 
Central Pacific bonds, 1862-64$25,885.120 00 $129,425 60 
Kansas Pacific bonds, 1862-64 6,303,000 00 31,515 00 
Union Pacific bonds, 1862-64 27,236,512 00 136 182 56 
Cent. Branch Union Pacific 

bonds, 1862-64 1,600.000 00 8,000 00 

West'n Pacific Bonds, 1862.64 1,970,560 00 9,852 80 

Sioux City & Pacific bonds. 

1862-64 1,628,320 00 8,141 60 



Totals $64,623,512 00 $325,117 56 

Interest paid by the United States. $53,405,977 38; in- 
terest repaid by transportation of mails, &c., $14,804,- 
021,94; interest repaid by cash payments : 5 per cent, 
net earnings, $655,198.87; balance of interest paid by 
United States, $37,946,756.57. 

The foregoing is a correct statement of the public 
debt, as appears from the books and Treasurer's returns 
in the Department at the close of business, January 

31, 1882. Charles J. Folgeb, 

i ■ I . I 

I Secretary of the Treasury. 



-^ 



CORRESPONDENCE. 



[We pay no attention to communications unless the 
name and address of the writer is given, though the 
same wiU not be published if so requested. Names 
and addresses of correspondents will not be given to 
inquirers.] j J 



Box 277, Worcester, Mass., Feb. 10, 1882. 
Editor Ameeican Kailroad Journal. 
Dear Sib : — - , 

Can yon tell me where we could probably 
find one or two second-hand narrow-gauge rail- 
road cars, in good order ? 
Your early reply will oblige 

j Yours etc., 

, ■ Geo. E. Hapgood. 

Treas. W. & S. R. R. Co. 



A Street Car Which Carries Its Own 
1 ■ ■: 'I !, ' Track. 



A STREET car which carries its own track has 
been introduced into Chicago, by a company 
which claims to have a capital of $1,000,000, 
and whose object is to build 1,000 of these cars 



.■IilL-^^.^a^'i^iavCi ii^/^ii^iSLaii^ 



',a..AiU5in •■'-*-'--*''*•■■'■' 



and place them upon the streets of that city. 
The car as described by the Chicago Times, is 
of the ordinary kind, and is mounted in the 
middle upon a truck which sits on four wheels, 
each about one foot in diameter. These wheels 
run around the inside of two steel tiers, each 
ten feet in diameter, and which rest upon the 
ground, and are held only to the car by a set of 
wheel-clamps. The car is designed to hold 50 
people, and the owners claim that the more it 
carries the easier it runs. It will be stopped in 
the usual manner, and two horses will be re- 
quired to pull it. The owners say they intend 
putting the cars upon the principal streets of 
the city, and placing the cash fare at 4 cents 
and selling 30 rides for $1. 



Legal Notes. 



PLEDGED RAHiROAD STOCKS. 

The pledgee of stocks, in the absence of a specific 
agreement to the contrary, is entitled to transfer the 
stock into his own name. When so transferred the 
particular shares become indistinguishable trom the 
great mass of other stock, and the pledger has no 
right to demand the return of any particular certifi- 
cates. It is enough if the pledgee have at all times 
shares sufticient in number to answer the pledger's 
demand upon repayment of the loan. 

Bill in equity filed in December, 1880, by W. 
W. Hubbell against Drexel & Co., to compel the 
transfer to the plaintiff of 1702 shares of Penn- 
sylvania Railroad stock. 

The portion of the decision which is of gen- 
eral interest is as follows : 

"The allegation that the defendants pro- 
cured a transfer of part of the stock to them- 
selves, on the books of the company, imme- 
diately on receiving the certificates from him, 
is immaterial. It was plainly their right to do 
so. If he desired to avoid this he should have 
contracted accordingly. When thus transferred 
it was unnecessary and impossible to distin- 
guish between these shares and others held by 
the defendants. It is of no consequence, 
therefore, that in selling stock they may have 
disposed of these particular shares. They at 
all times had in hand an amount greatly in ex- 
cess of the shares received from the plaintiff, 
and were therefore constantly prepared to keep 
their contract with him. A share of stock is 
without " ear marks," and cannot therefore be 
distinguished, as has just been said, from 
others of the same corporation and issue. The 
certificates, bearing dates and numbers, are 
but evidence of title. On payment of his debt 
the plaintiff would have been entitled to a re- 
turn of the number of shares which the de- 
fendants had received — nothing more. Such 
was the effect of his contract : Nourse v. Prime, 
4 Johns. Ch. Rep. 490 ; Allen v. Dykers, 3 
Hill, 593 ; Gilpin v. HoweU, 5 Barr, 41." [ 

Hubbell vs. Drexel et al, U. S. Circuit Court, 
Pa. — Legal Irdelligencer. 



An improved car coupling has been patented 
by Mr. John Cochran, Jr., of Milwood, Mo. 
The car coupling is constructed with wide 
bumper heads, with two pair of links, a jiair of 
pins, slotted sliding bars, connected with a pin 
of each pair, and pivoted lifting bars connected 
with the slotted sliding bars and swinging trip 
blocks, whereby the bars will be coupled auto- 
matically as they are run together. 



-_4fl!Jt4* i^B?" 



AMERICAN RAILROAD JOURNAL. 



109 



liights on Eailroad Trains. 

The cause of the sudden conflagration on the 
Hudson Kiver train at Spuyten Duyvil a few 
weeks £^o has never been satisfactorily ex- 
plained. We were told simultaneously with 
the news of the horror that the "stove" was 
the fatal factor in the disaster which brought 
a horrible death to so many unfortunate per- 
sons. This theorj' was so plausible that it was 
accepted almost without question. A more 
rigid inquiry into the circumstances surround- 
ing the calamity leads to the suspicion that 
the kerosene lamp played a more important 
part in the catastrophe than has yet been given 
to the public. The instantaneousness of the 
flames cannot be accounted for on the stove 
theory, and there is only too much reason to 
suppose that the deathly oil reservoirs over- 
head were more fatal than the small furnaces 
below. The stove and the oil lamp on all our 
railroad lines are the products of the meanest 
kind of parsimony. On thousands of miles of 
the European railroads a safe and simple plan 
of railroad illumination is in use. The only 
reason why it has not been adopted hrre is 
that it would probably cost more money at the 
outset than the present wretched contrivances. 
It is, of course, idle to look for a reform so 
long as congresses and legislatures are elected 
and owned by the railroad corporations. — X. 
Y. Herald. 



Wooden vs. Iron Beams. 



Several novel features in building have been 
introduced in the construction of an eight story 
business house now in course of erection in 
this city by Mr. Vernon K. Stevenson. The 
tide of opinion in the fire department and 
amon'g insurance companies having lately turn- 
ed against iron beams, the owner has placed on 
his floors thick wooden beams one foot from 
centre to centre and filled the interstices with 
cement, thus forming a solid floor two feet in 
thickness, which he claims will resist the pene- 
tration of fire for several days, whereas, he 
says, "the iron beams would bend with the 
heat and fall out and the building cave in." 
The stairs are of slate ; the walls three feet in 
thickness. The whole of the building is finish- 
ed in cherry and California redwood, which 
has very much the appearance of mahogany. 
This attempt to utilize native instead of foreign 
wood seems to have succeeded very well. 

' ^ 

Naptha as Fuel in Locomotives. 



Some experiments have been made of late, 
says the Journal of the London Society of Arts, 
by the administration of the Tsarkoe Selo Rail- 
way Company for burning naptha as fuel in 
locomotive engines. A tray of cast-iron is 
fitted in the ordinary fire-box of the engine 
over the bars, and above this tray is fixed a 
grating of wrought-iron pipes placed crosswise 
and perforated with a number of holes in the 
lower side. By means of a larger pipe these 
pipes communicate with a cylinder of tin in 
the tender of the locomotive. This cylinder is 
divided into two unequal compartments, one 
containing naptha and the other water. The 
flow of these liquids from the two compart- 
ments, into the funnel end of the pipe leading 



to the hollow grating in the fire-box is regu- 
lated by a valve. The water acts as a pulver- 
izer, and separates the steam of naptha, bring- 
ing in this way a larger quantity of air in con- 
tact with the fuel, and so, it is said, causing 
more rapid combustion and increased heating 
power. The engine experimented upon gave 
excellent results, and the railway company 
have applied to the Government for authority 
to use this system of heating on train lines. 
The use of naptha in some parts of Russia will 
be more economical than either cool or wood. 



The Excelsior Life Saving Car Coupling. 

Improvement in railroad cars during the 
past 20 years has been made in most every part 
with the exception of the Coupling, but recent- 
ly inventors have given some attention to this 
portion of the car. The latest and best we 
have seen is "The Excelsior," which seems to 
us to be just the thing, and is another advance 
in the all impoi-tant matter of improvement. 




and in order to separate them it is only neces 
sary to turn a rod running along the platform 
to the outside car, to which is attached a chain 
connected with the pin, or if on the top of the 
car the brakeman has only to turn a similar 
rod. The pin is constructed with a rudder 
or flange forming a quarter circle, which also 
forms a cover to the box, and precluding any 
possibility of dust, dirt or ice getting in the 
box or the coupling getting out of order, thus 
making it sure and certain in its workings. This 
coupling can be used on any car or any coup- 
ling box. It was patented in the U. S., Aug. 
9, '81, and patents have been secured in the 
principal countries of Europe. It is now be- 
ing tested on one of the principal roads and 
others will soon follow. 
The Company is composed of gentleman of 

character and ability and will carry the work 
through succeesfuUy. The officers of the Com- 
pany are as follows : James F. Wenman, 
President ; Jordan L. Mott, Vice-President ; 
Edward P. Barker, Secretary' ; James D. Fish, 
i'reasurer ; J. Hamilton Hunt, Gen'l Superin- 
tendent ; Edward G. Hilton, Gen'l Manager. 



Commerce of Nevr York. 



The foreign imports at New York for the 
month of January were : — 

1880. 

Ent. for cons $-20,094,865 

Do. for warehousing 7.283.376 

Free goods 12.6*3,875 

Specie and bullion . . 875.038 



1881. 

$15,361,813 

5.740,490 

10,259,629 

4,7'23.427 



1882. 

f22.225,:i«5 

7,259.561 

10,276,143 

374,684 



Total ent. at port $40,897,154 $36,085,359 $40,136,673 

Withdrawn from 
warehouse 7,087.326 7,852.224 7,676,386 

The foreign imports at New York for seven 

months ending January 31, were : 

1880. 1881. 1882. 

Ent. for cons $111,345,914 $117,044,725 $142,307,921 

Do. warehouse 42,581.638 51,198,571 45,029,925 

Free goods 73,579,9'.)4 73,294,615 78,410,405 

Specie and bullion. 79.618,209 75,317,963 26,662,882 



Total ent. at port. . $307,125,755 $316,855,874 $292,411,133 
Withdrawn from 
warehouse 43,457,614 60.763,736 56,993.579 

The receipts for customs at New York were: 



1880. 

July 9,329.895 17 

Aug 10.562,138 82 

Sep 11,790,902 26 

Oct 10.952,554 48 

Nov 8.460.050 08 

Dec 8.175.540 13 

Jan 11.960.677 78 



1881. 
13.360.394 37 
14.492.361 87 
12,856.636 10 
10,574.333 53 
9.079,082 36 
9.230,734 57 
10,572,.5.59 15 



1882 
14,186,452 06 
23.3-23.511 57 
19,711,063 96 
30,980,174 12 
44,153,630 18 
97,510,972 74 
13,:J87.515 96 



The old method of dropping a pin or bolt 
through two overlapping loops of iron, and 
which has caused many a hand, arm or body to 
pay the terrible tribute by being crushed, and 
the old process of uncoupling by "slacking 
up" is now entirely eradicated by The Excel- 
sior. The action of the Coupling is automatic 



Total... $71,231,758 72 $80,166,101 95 $88,470,994 11 
The exports fi"om New York to foreign ports 
for the month of January, were : 

1880. 1881. 1882. 

Dom. produce $24,668,691 $28,526,320 $26,964,780 

For. fi-ee goods 370,357 1,308.767 4'24.682 

Do. dutiable 377.618 429.832 459.372 

Specie and bullion... 819,919 1,034.514 1.270.441 



Total exports ...$26,236,485 $31,299,433 $29,119,175 

Do. ezclusiye of spe- 
cie 25.416.566 30,264.919 27.848.734 

The exports from New York to foreign ports 
for seven months ending January 31, were : 

1880 1881 1882 

Dom. produce $219,454,103 $244,202,820 $207.868.'970 

For. free goods 1.083.434 3,419,280 3,732.679 

Do, dutiable 2.639,615 3.482,169 3,383,944 

Specie and bullion. 4,152,985 5,683,916 7.541.490 



Total exports $227,330,137 $256,788,184 $222,527,083 

Do. exclusive of 
specie 223,177,152 261,104.269 214,986,6»3 



At a meeting of the American Association o 
Window Glas= Manufacturers lately in Wash- 
ington, the product of the past year was re- 
ported to have been nearly 2,250,000 boxes, 
valued at about $6,000,000. The demand for 
consumption has taken the entire product. 



, •"■^tt^n^^inr -t-'. 



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AMERICAN RAILROAD JOURNAL 




New York. Jan. 30, 1882. 

THE THIRTY-NINTH SEMI-ANNUAL CASH Divi- 
dend of the ILLINOIS CENTRAL RAILROAD 
COMPANY, being three and a half (3}i) per cent on its 
capital stock, will be paid by the undersigned March 1, 
1882, to shareholders as registered at the close of busi- 
ness on the 11th of February, after which and until the 
4th day of March the transfer-books will be closed. 

L. V. F. RANDOLPH, Treasurer. 



I - THE PERFECTED 

REMINGTON 



PATENTS. 



American and Foreign Patents procured at a moderate 
cost. Patent and Trademark suits a specialty. Send 
for information. 

EVAN P. GEORGE, JR.,:* 

COUNSELLOR AT UW AND SOLICITOR OF PATENTS, 
4 A. 6 Warren St., N. Y. 



FOR SALE 



Six new 3ft. Qauge Locomotives, 18 to 24 tons, June, 
July and August delivery. 

Ten new Ift. 8>iin. or 5ft. Gauge Locomotives, June, 
July, and August delivery. 

Two new Ladder Tank Locomotives, 3ft. Gauge, 10 tons. 
May and .June delivery. 

Second-hand Standard Gauge Locomotives and Pas- 
senger Cars, immediate delivery. 

New Box, Flat, and Gondola Cars, 4ft. 8,'iin. and 3ft. 
Gauge, for immediate delivery. 

New Passenger and Combination Cars, ft. Gauge, de- 
livery 30 days. » 

New Passenger and Combination Cars 4ft. 8^4in. Gauge, 
delivery 60 days. 

New Car Wheels, Iron and Steel Rails. 

Narrow-Ga^uge Rolling stock a specialty. : 

BARROWS & CO., 

NEW YOBK. 



'1 1- 




TYPE-WRITER. 

4. "WKITING - MACHINE which combii 
ea^e with rapidity and accuracy, 
I • and economy with elegance 
and convenience. 

Adapted to general use. Every machi 19 
guaranteed. 

Send for Circulars with names and testimonials 
ncent patrons. 

E. REMINfiTOH & SONS, ■ 

281 and 383 Broadway, New York. 
38 Madison Street, Chicago. 
1*4 South Tth Street, Philadelphia. 
9 1 South Howard St., Baltimore. 

[Mention this paper.] 

D. N. BEARDSLEY & CO., 

MANUFACTURERS OF 

Superior Oak and Ghestiint Lnmtier, 

I AND RAILROAD TIES. 

Ostls Oa,r TirciToer a, Speci£ilt37". 

OFFICE : 9 MURRAY ST., 

II NEW YORK. 



HOME 



INSURANCE COMPANY OF NEW YORK, 



OFFICE: NO. I 19 BROADWAY. 



FirTY-SEVENTH SEMI-AirNTTAIj STATEMENT, 

• . ■ 

Slao'W'ing Oondition of tla© Oom.p>etn.y on tii& 1st day of 



CASH CAPITAL 

Eeserve for Unpaid Premium^ . . . 
Beserve for Unpaid Losses ....... 

Net Surplus 



CASH ASSETS. 



.$3,000,000 00 
, 1,943,733 00 
, 245,(J05 3fi 
. 1.806.180 90 

$6,995,509 26 



Summary of Assets 

Held in the United States available for the PAYMENT 

of LOSSES by FIRE, and for the protection of Policy 

Holders of FIRE INSURANCE. 

Cash in Banks $ 130,172 31 

Bonds and Mortgages, being first lien on 

Real Estate {worth $3,600,750] 1,655,858 0(1 

United States Stocks [market value] 4,079,500 00 

Bank and Railroad Stocks and Bonds [mar- 
ket value 664,625 00 

State and Municipal Bonds [market value] . 121,750 00 
Loans on Stocks, payable on demand [mar- 
ket value of Collaterals, $341.507.60 229,760 00 

Interest due on 1st January, 1882 85,819 19 

Premiums uncollected and • in hands of 

Agents 80,635 08 

RealEstate 47,399 68 

Total $6,995,609 26 



■A^ 



J. H. WASHBURN, Secretary. 
T. B. GREENE, 
W. H. BIGELOW. 



y Ass't Sec' 
^ ) 



>^- 



',^'r*«^_M«, 



CHAS. J. MARTIN, President. 

A. F. WILMARTH, Vice-Pres't. 

D. A .HEALD, 2d Vice-Pres't. 



i' • .^•"'' ■^--» 



£5 fme §T, - l^ew^OE^FO 

Interest allowed on Deposits subject 
to Draft. Securities, Ao., bought and 
sold on Commission. .■ ]: :> 

lnvestmeni*Securities tlways on hand. 

ALONZO FOLLETT, 



Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A L j 

Paine, Webber & Co., 

Bankers and Brokers, t 

No. 53 Devonshire Street, Boston. 

{Member f of the Boston Stock Exchange.) 

Devote special attention to the purchase and saltt of 
Htocks and Bonds in the Boston market, the careful se- 
lection of securities for inrestment, and the negotiation 
of commercial paper. 

Wm. a. Paine. Wallace G. Wkbbek. C. H. Paink. 

John H. Davis & Co., 

BANKERS AND BROKERS, 

BTo. lY Wall St^ New York. 

^ 

Ic erest allowed on temporary and standing deposits, 
ntock^ and Bonds bought and sold on GommiMion only, 
dither on Margin or for Investment. 

Brown, Brothers & Co., 

No. 59 Wall Stieh, New Yoh, | 

— BUT AND SELL — 
— ON — 

GBEAT BRITAIN, IRELAND, FRANCE. GERMANY. 
BELGIUM, AND HOLLAND. 



Issue Commercial and Travelers' CredHs in Sterling, 

AVAILABLE IN ANY PART OF THE WORLD, AND IN 
FRANCS m MARTINIQUE AND GUADALOUPE. 

iake Teleobaphic Tkansfebs of Monet between this 
and other countries, through London and Paris. 

Make Collections of Drafts drawn abroad on all points 
In the United States and Canada, and of drafts drawn to 
the United States on ForeiKU Coostries. 



A. WHiTnrEY & Sons, 

CAR WHEEL WOBKS, 

Callowliill and 16tli Streets, 

phujAdelphia, pa. 

^^ I 

Wet furnish CHILLED WHEELS for Cars, Trucks, and 
Tenders. CHILLED DRIVING-WHEELS and TIRES foi 
Locomotives. ROLLED and HAMMERED AXLES.; . 
WHEELS AND AXLES FITTED COMPLETK. __ 

MADE ENTIRaY OF STEHT" 

ONE MAN with it can easily 
move a loaded car. 

Manufactured by E. P. DWI6HT, 

Dealkb in Razlboad SuPFuas^ 

407 LIBRAEY ST., 

PfilLADfiLPfiLL 



STEEL 

CAR 

PUSHER 



•* 



-'■-'-•■^ •' 



i'.--:i.„: ■ .'. >.-:.'.,r-.-^.'^ 



; IT -7 '-^lav. *»^~p^y\ v,,'*^ • s.'jr"'^'. '*'"';': 



y...'^f.;.:^j;—:\-^^ . ^/--j^-.; ;•••"■ ■ *...^.r; . ,» ^.sr *• .*T»^ ?? 






AMERICAN RAILROAD JOURNAL. 



Ill 



^- 




V A L E NT IN E ' S ^^^^^^^ V ARNISHES 

ABE ON SALE ffl THE FOIIOWING CODHTWES: 



ENGLAND. 

PRANCE. 

GERMANY. 

AUSTRIA. 
SPAIN. 

INDIA. 



SWITZERIiAND. 

ITALY. • 

HOLLAND. 

SCOTLAND. 
RUSSIA. 

■AUSTRALIA. 

SOUTH AMERICA. NEW ZEALAND. 

MEXICO. CUBA. 



VALENTINE & COMPANY, 

COACH AND CAR VARNISHES, ■ 



l^JEfXT^ 



This Space to be occupied by MoUer & Schumann, 
Varnish Manufacturers, Brooklyn, N. Y. • 



BAMES VACUUM IRAKE CO., 

RAIIiWAV TRAIN BRAKES, 

P. o.|Box 2,878] SALES OFFICE, 15 COLD ST., N. Y. Represented by THOS. PROSSER & SON. 

The EAMES VACUUM BBAKEI is confidentlyfofferedi as the^most efficient, simple, durable and cheapest Power Brake in the 
market. It can be seen in operation upon over seventy roads. 






fi rtfii f r iiTf 



i^rw^^T?!T"''F*^^ 



112 




^-vj'-yv-'.--^ rr:-7t'¥»'Ty-. f .v'-'"' f -," 



AMERICAN RAILROAD JOURNAL. 



;e-t V . . •. ^..)- .*•■ 



•■ : .-■ '.• -^ *. r7 



■a 1 



WATER TM! STEAM BOILERS. 




THE BABCOCK & WILCOX CO., 

30 Cortla.na.t St, N"e"w TTork.. 

lie James Street, Glasgo-w. ' 



JOHN STEPHENSON CO. 

> [Limited.] 




NEW YORK . 

Superior Elegance, Lightness and Du- 
rability. The result of 50 years' experi 

ence. '\ " 1 .• - i 

Adapted to all countries and climates. 
Combining all valuable improvements 
Shipped to Foreign Parts with greatest 
care, and at most favorable rates. 

flOPSA TONIC RAI LROAD 

THE ONLY LINE RUNNING 

•m i^ o TJ o- ih: c-^ii-s 



Between New York, Great Barrington, Stockbridge, Len- 
ox, and Pittsfleld — the far-famed resort of the 

Berkshire Hills 

of Western Massachusetts — the " Switzerland otAmericfi,- 
Two through trains daily between New York City an. 

all points on the Housatonic Railroad, from the Gran« 

Central Depot via the New York, New Haven, and Hart 

ford Railroad at 8:05 A. M. and 3:43 P. M. 
Descriptive Guide Book sent free upon application to 

the General Ticket Agent. 

H. D. AVEHIIjIj, Gtn'l Ticket Agent. 
Ii. B. STIIiliSOIf, Superintendent. 

General Offices, Bridgeport, Ct. January 2, 1882. 



John B.Davids &Co' 



MARK 



I^WARRANTEDj 






(NGlNEERS.Mechanics.MillOvrners.Builders.Manu- 

If acturers. Miner s.Merchants, Ac, will find in Moo ke'B 

Univebsal a 8SISTANT and COMPLETE Mkchanic, a work 
containing 1016 pages, 500 EnRraving8,461 Tables, and over 
l,000,OOOIndustrialFacts,Calculations, Procpssei, Secretg, 
Bales, Ac, of rare utility in 2 Trades. A fSbookfree Djr 
mail for $2.50, worth its weight in gold to any Mechanic, 
FarmerorBusinessMan. A'/entt Wanteil. Sure sale every- 
where for all time. For 111. Contents Pamphlet, terms, 
and Cataloffne of 500 Praotical Books, address National 
: Oe., 7S B«elBBaa SV. Vvm Y«rk. 



NO OTHER LINE IS SUPERIOR TO THE 

I FITCHBURB RAILROAD 

HOOSAC TUNNEL ROUTE 

"WEST. 

6.30 A: 



ACCOMMODATION. 



Connecting at Syracuse, N. Y., at 7.15 P.M., with through sleeping cars for Cincinnati, 
Cleveland, Toledo, DETROIT AND CHICAGO, 




CINCINNATI 

EXPRESS. 



Pullman Sleeping Car attached, running through to Cincinnati without change. (Only Line 
running Pullman Cars from Boston.) This car runs via Erie Kailway and N.Y., P. & O. R.E., 
making direct connection for Louisville, St. Louis, Kansas City, New Orleans, and all 
points in Texas and New Me^co. 




P. ST, LOUIS 

M. EXPRESS. 

I THE ONLY LINE which runs a THROUGH SLEEPING-CAR from 

BOSTON TO ST. LOUIS WITHOUT CHANGE! 

' ARRIVING AT 8.00 A,M, SECOND MORNING. 

Through sleeping car for Buffalo, Toledo, Fort Wayne, Logansport, Lafayette, Danville 
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo] 
Kansas, Colorado, Texas, and all points in the 



SOUTHWEST. 



I 




p. PACIFIC 

M. EXPRESS. 

The only line running a through sleeping car via Buffalo and Detroit without change, 
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex- 
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast, Wisconsin, Minnesota 
ind all points in the - I 

West and northwest. 



i 



THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED. 

.tdfl Great Short Linepasses tlirough the most celebrated scenery In the country, including the famoua 
I HOOSAC TlftfNEL, four and three-quarters miles long, being the longest Tunnel 
• ' in America, and the third longest in the world. ' "•' 

Tlcketa, Drawlnff-Room and Sleepingr-Car Accommodations may t>e secured In Advance 

toy Applylnir to or Addresslnir 

250 WASHINGTON STREET, BOSTON. 250 

JOHN ADAMS, General Superintendent. F. 0. HEALD, Acting Gen'l Passenger and Ticket Agent. 

la •fl'ect Jaanary 9ih.» 1889t <u^d snldect to chansea. 



. ::■&.: . 



^r^.^1 



■.,iA.A:^ fi iiHa'i >< 



^^ .A. v^ ^ iy^i:.ifi*x,.'id^\m,\ I --rtirtini LA^^^&.y 



m 



^AMERICAN RAILROAD JOURNAL fe - 






113 



■A,«F. ^. 



!«! 



E. W. Vandebbilt. 



E. M. Hopkins. 



VANDEBBILT & HOPKINS. 

Railroad Tiesj 

Car and Railroad Lumber, White and Yellow Pine and Oar. 
120 Liberty Street, M. Y, 

Also North Carolina Pine Boards, Plank, and Dimen 
Bions Lumber to order. General Railroad Supplies. 

SHUGG BROTHERS, 

DESIGNERS AND ENGRAVERS 

ON 

AND 

PHOTO ENGRAVERS, 

No. 18 Cortlandt Street, 

NEW YORK. 

KNOX & SHAIN, 

Manufoctnrers of Engineering and Telegraphic Instru- 
ments. No. 716 Chestnut Street, Philadelphia. Two 
Medals awarded by the Franklin Institute, and one by 
I he Centennial. 



PATENTS 

We continue to act as Solicitors for Patents, Caveats, 
Trade Marks, Copyrights, etc., for the United States, 
Canada, Cuba, England, France, Grermany, etc We 
have had thirty-five years' experience. 

Patents obtained through us are noticed in the Sct- 
ENTiFic AMERICAN. Thls large and splendid illus- 
trated weeklypaper,$3.20ayear,shows the Progress 
of Science, is very interesting, and has an enormous 
Circulation. Address MUNN & CO., Patent Solici- 
tors, Pub's, of Scientific American, 37 Park Row. 
ttewYork. Hand book about Patents frfifl. 



A. Ik^ E3 R, I O A. N" 

COMBINATION SAW. 

Without Lathe. 




F AIHB ANES' ??^^^^albs 

f^i^'^: SCO Hi^OIDrE^CA-TIOiTS. :^- 

ADAPTED TO ALL CLASSES 
OP BUSDfESS. 



Priqe $6 without Lathe ; with Lathe, $8. 



Address THE IVIanufactuebm, 

C. M. CRANDALL & CO., 

MONTKOSE. Susquehanna Co.. PA. 




Railroad and Warehonse Tmcks, 

AND COPYING. PRESSES 

Oldest and Largest 
Scale Works in the World. 

BUY ONLY THE GENUINE. 



F-^ 



Dormant "Warehouse Scales. 



E^B-A-I^n^S <Sc CO., 
311 Broadway, New York. 



FIDELITY AND CASUALTY COMPANY. 

CASH CAPITAL, - - - - $250,000. 

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and reBponsibility, 
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per- 
formance of the duties of employes in all positions of trust. 

-A.COI1DE1TT POLiICIBS. 

Policies issued against accidents causing death, or totally disabling injury, insuring Itom Fvrt HuiiDBXD 
DoiiliABS to Ten Thousand in case of death, and from Three DoLJjats to Fiftt weekly indemnity in caa« of dia 
abling injuries. 

WM. M. RICHARDS, Pns't. JOHN M. CRANE, Stc'y. 

IDIR,BOTOR/S : 



Geobge T. Hope. 

G. G. WlIililAMS. 

J. S. T. Stbanahan. 



H. B. Claflin. 
A. S. Babnes. 

H. A. HURLBUT. 



W. G. Low. 
Chables Denxis. 
S. B. Chittenden. 



Geobge S. Coe. 
Wm. M. Bichabds. 
A. B. HoLL. 



STEEL 
CASTINGS 



FROM 1-4 TO 10,000 ibs. WEIGHT. 

True to pattern, sound and solid, of nnequaied strength, toa£:hness and 

durability. 
An invaluable substitute for forgings or cast-irons requiring three-fold 

strenjrth. 
CROSS-HEADS, ROCKER- ARMS, PISTON-HEADS, BTC. fo! 

Locomotives 
15,000 Crank Shafts and 10.000 Gear Wheels of thi« rteel now mnninp 

prove Its superiority over other Steel Castmcs. 
CRANK-SHAFTS, CROSS-HEADS and GEARING, «p»cialtie«. 
Circulars and Price Lists free. Address 

CHESTER STEEL CASTING CO. 

407 JLlbrary St., PHIL.JlD£I.PIIIA 
WoB^Ls, CKCST£K. Pa. 



SWIFT'S IRON AND STEEL WORKS, 

26 W. THIRD ST., CINCINNATI, OHIO. 

Manufacbrers of all WeigMs of Standard and Narrow Gauge Rails by the most approved process. Also Rafl Fastenings, 

Steel and Bloom Boiler Plate, and Tank, Sheet and Bar Iron. 



E3T 



3>fir ooi^ 



IRON AND STEEL RAILS. 



O-EO. JSL^ ETV-AJiTS, 



•Z-i T:^7"aJl Street, iT. 



Saiidnsky Rail Mill Co. 
New Albany Rail Mill ( o. 

STEEL RAILS, 

IRON RAILS, 

BLOOMS. 



C. H. ODELL, AGT. 

104: John St., N. T. 



FOR SAL.E IN I OTS TO ^UIT. 

Prompt Delivery* 

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS, 
AND FOR RE-ROLLING OLD RAII& 

OLD RAILS AND SCRAP AND CAB WNELS BOUGHT AND SOLD. 



""' '' rTiif'i>Tife'A^nirir.lrr'afiifi'.ii'*''i ., 






urmij^- hW7il I "■ 



U4 






AMERICAN RAILROAD JOURNAL. 



AMERICA]^ 

REFBIGERATOR 

■LINE,: 



New York, Oct., 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 
Liquors, Patent Medicines, Es- 



sential Oils, Mineral Waters, 



Lager Beer, Ales and Porters, 
Oysters, or, in fact, any class bl 
goods that needs protection 
from heat or cold while in tran- 



sit to the West and Southwest, 
either in Summer or Winter, 
will do well to ship the same by 
the new and elegant cars of the 

i 



REFBIBEBATOfi TRANSIT COMI 






Of the Finest Finish, as well m every deacription of CAR WORK, furnished at short notice and at reasonable 
■I v^' . ;■• Prices by the 1 

J HARLAN & HOLLINCSWORTH CO., Wilmington, Dei. 

FARDEE OAHWOBKa. 

WATSONTOWN, PA. 

FARDGE, MIDER k (0., lIMIfGD, 

PROPRIETORS. 

!L<d[etzi-u.fbtotvLx*oz*s of 

Mail, Baggage, Box, Gondola, Flat, Gravel, Ore, Coal, Mine, and Hand Cari ; 

Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables ; 

Car Castings, Railroad Forgings, RoUing-Mill Castings, 

Bridge Bolts and Casting^. i 

4^ Wo haT*. in esBneetios with our Car Works, an eztensiTe Foundry and Maehina-shop, and are preparaA 
»• do a general Machine Business. . i 

Chairman, Treasurer and General Manager, Secretary, 

AJEtIO PARDEE. H. P. SNYDER. N. LEISER. 

NEW YORK CITY OFFICE: ROOM A, No. 137 BROADWAY. . 

I C. W. LEA VITT. Agent. I 



m lORK, UU E BIE, m WESTER! BAllWH. 

TO THE] TR^A.'VEIjIlSrCa- FUBLiIO. 

During the Centennial season — six months closing September 10, 1876— the Erie Railway caiTitd almofft 
fSKn Million passengers, without a singe accident to life or limb, or the loss of a piece of baggaf a. 

And for a whole year the official records of the United States Post Office Department show the arriraU of 
•irle Bail way trains in New York, on time, to be from 16 to 27 per cent ahead of competing lines. 

Facts well worthy the consideration of traTelers. , .. 



Guaranteed Bills of Lading will 
be given. 

Time as quick and rates as 
low as by any first-class fast 
freight line. 

.^^Ship from NEW YORK via 
N. Y. C. and H. R. R. R., St. 
John's Park; from BOSTON via 
Boston and Albany R. R. 



For rates and information apply to 

FRED'K I. EVANS, 

Beneral Eastern Agent. 



92 Wall Street, - New York. 

271 Broadway, New York, 

232 Washington Street, Boston 



X. S. BOWIBN, Gtneral SuptnnUndent. 



JNO. N. ABBOTT, G^- Ptuttngtr Agent, 



Railroad 




TraiCk Scales. 




PHILADELPHIA: 
50 South Fourth Street. 

NEW YORK: 
I 1 3 Liberty Street. 



AND 

TESTING 

MACHINES 



PITTSBURGH : 
Liberty St., cor. 7th Ave. 

ST. LOUIS: 

609 North Third Street. 

NEW ORLEANS: 
1 42 Cravier Street. 



THE 

GORDON & DUGGAN 

I RAILWAY SWITCH. 

The Standard on several and in use on 
twenty-five Bailroads. ' 

Combines Safety, Durability, Simplicity, 
and Low Cost, with Fixed Rails. 

The only movable piece weighs 375 lbs. 
and is without a bolt or rivet. 

{ E. CORDON, Treasurer, 

No. 28 Statu Stbkit, Boston, Mass. 



THE ROGERS 

LOCOMOTIVE AND MACHINE WOBES, 

Fettorson, 2^T. J. 

^ 

Haying extensive facilities, we are now prepared t( 
inmish promptly, of the best and most approred de 
acrlption, either 

COAL OR IVOOD BURNING 

IjOOOI^OTIVES EN"CHITH3S, 

▲in> OTHXB VASIETIX8 OT 

RAILROAD ]?IACHINER¥. 



|- 



J. S. ROGBR8, PruH. \ 

R. ■. HUOHBS, Sec'y. \ Patereon, If . J. 

WM. 8. HUDSON, -Sup't ) ... -j 

I^. S. larCJO-iaCBS, TTresusrLixex. 
44 BxehMm* PlaeetHew York. 



rs"i-Jl£.i.>'*:"-^''-tfc,r.*5».;i 



.[^-^.m^-MAiiS:J.*i^tl^ii^.i..2L..' ''-''- '■ '--^^ ' -A^-^': jli^lJiJLa^ 



AMERICAN RAILROAD JOURNAL. 



U5 



RENDLES P^AT £NT SYSTEMS OF G LASS ROOFIHG. 

A NOVEL and useful patent is being introduced in this country by Me. Arthur E. Eendle, No. 7 Warren Street, New 
York. It is a system of glazing known as " Rendle's Patent System of Q-lazing," and is largely used abroad, especially in Eng- 
land, where nearly all the great railway stations, government buildings, conservatories, etc. are glazed in this way. 

The principles of this method are the insertion of the glass in metal bars attached to the wood or iron work, and so 
arranged that the drip from condensation is carried off from the interior of the light by ingeniously contrived channels. Expan- 
sion and contractio* are also provided for, and the great feature is the fact that all filling with either putty, felt, cement or 
solder is dispensed with, thus rendering the roof or skylight comparatively indestructible, and involving light expense in repair 
[■■ and maintenance. The work is rapidly and economically constructed, and as more light, greater durability and large saving in 
' expense are obtained, the system is rapidly being adopted by numerous leading railways, manufacturers, etc., among which are 
the N. Y. C. & H. R. R. R.— the Buffalo depot having been glazed with this method— the N. Y., Pa. & Ohio R. R., Cleveland 
h car shops, Flint and Pere Marquette R. R., etc., etc.; ana the Yale Lock Manufacturing Co., Renfrew Manufacturing Co., 
Adams, Mass., Wm. Skinner & Son, Holyoke, Mass., Hamilton Web Co., Hamilton, R. I., The American Zylonite Co., 
Adams, Mass., and others. 

The accompanying cuts show the " Ordinary " and " Coinbination " systems; further information regarding which may 
be obtained by addressing the patentee. 



"-2 . ^a- ■--'.• 



•■;>;.- 



RENDLE'S PATENT ORDINARY SYSTEM. 



».■ j.'f.^V' 






■■■)■:■-' i- 
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I. 


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ORDINART^ SYSTEM. 



RENDLE'S PATENT COMBINATION SYSTEM. 



;<^-1. 




'^i r 






I , ■ ^<^„ .^ '--r .*3^- * - 



VEBTICAL BAB 



HEAD OFFICE : NO. 7 WARREN STREET, 



NEW YORK 



H'' : ' .-" ■'' . ■'- ^^ 



■■y-r 



116 






AMERICAN RAILROAD JOURNAL. 




This material is iudistructible and therefore valuable for all purposes of 



HEAT, 



-A-lTD- 



SOUND, 



FROST-PROOFING. 



Orer 3,600,000 lbs. now in actual use ; 614,000 lbs. of which have been applied in cars as shown in diagram. 

Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution. 

Sample and circular free by mail. . . - ..-, . 



UNITED STATES MINERAL WOOL COMPANY, 



NTo. 13 CortlCLTicit Street, 



N-ES'W- "2-OK,IC. 



NATIONAL TUBE WORKS CO. 



MANUFACTURE WROUGHT IRON PIPES AND TUBES. 



>, ■• •'.. *.' 



WORKS: 

MIcKeesport, Penn. 
Boston, Mass. 



NATIONAL SPECIAL SEMI-STEEL 



\if' ■■?■. 




OFFICES: 

TTTRP^ I04ancl f,06 John8t.,N.Y. 

IUDJjO. 8 Pern bertonSq., Boston. 

1 59 Lake St., Chicaso. 



KSlTA itLiISHED IS 1836 



LOBDELL GAH WHEEL GOMFANT, 

IVllmin^ton, Delaware. 

6E0BQE G. LOBDELL, President. I 

WILLIAM W. LOBDELL. Secretary. 

P. N. BRENNAN, Treasurer. 



J. C. BEACH, Treas. 



C. H. ANTES, Sec'y. 



ALLEN PAPER IS WHEEL COMPl. 

GenM Office, 940 Broad^VMy, N. Y. 

Works at Pullman, III., and Hudson, Nkw Yokk. 



AN INDESTRUCTIBLE WHEEL FOR PASSEN- 
GER CARS AND ENGINES. 







BABCOCK 

EITINBUISHER. 



coTTeiv-SEin> hitlls 

For Packing Journal Boxes of Cars. 

National Railwat Pateit Waste Co. 
240 Broadway, New York. 



EAGLE 
TVBE CO. 

614 TO 626 WEST 24TH ST., 

New York; 



Boiler 



Tubes, 



GEO. R. WOOD, 

IRON AND BAEWAI BUSINESS. 

Steel and Iron Rails, 

■ O Zli S3 S ^-J ■ • ■-; ' 

No. 19 William St., NEW YORK. 

RAILROAD IRON. 

'.■ A- - .". 

-:•!-■ ^^— ^— A.-. ■■■.»_■ 

The undersigned, agents for the manufacturers, art 
prepared to contract to deliver best quality American 
or Welsh Steel or Iron Rails, and of any required 
weight and pattern. Also Speigel and Ferro ManganM*. 

PERKINS A CHOATE, 

93 Nmmu Street, WBUT YORK. 

V First-Class English - 

Iro]¥ A]¥D Steel Rails 

AT LONDON PRICES. F. O. B. 



Of all regular sizes, of the 

best material, and 

warranted. 



ASentinelthatNeyer Sleeps 

SIMPLE! ^ : 

EFFECTIVE I 
V r DURABLE! 

S. P. HAYWARD, 

GENERAL AGENT, 
407 Broadway, JJ". Y. . 



1:--i^^:-:-::. 



LocomotlTe Water-Grates a 
specialty, and 20 per cent 

below regrular prices. 

^ 

Fnces lower thanother MannMium 

^ 

NO PAYMENT REQUIRED UNTTL 

TUBES ARE TESTED AND 

SATISPACTOBY. 

IV. B.— Send for Stock IJn. 



We also purchase all classes of Railroad S«eurltlM 
and negotiate loans for Railroad Companies. 

- IVM A. GUEST & CO., 

No8. 41 and 43 Pine Street, New York. 

Safety Railroad Switches, 

WITH MAIN TRACK URMOKEN. 

Railroad Crossings, Frogs, and Otb«r 
Railroad Supplies. 

MAiroiAOTUBBD BY THE ' ' 

WMTON MMOAD SWITCH CO., 

PHTT.ADEIiPTTTA. 

Works : 33d and WashtnvtcMi Are. 
OIBcet 39 Sontb 3d Screec 



tf-'r.*- 




TAiUiN 



Steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



SEcom>QuABTo8KBiiw.-VoL.xxxvni..No.8.r - NEW YORK, FEBRUARY 25, 1882. 



•■. ^ ■"■ 



.r. (Whole No. 2,392.— Vol. LV. 



About Railroad Monarchs. 



In the London Times of the 31st we have a 
piece of characteristic writing, in the leading 
article, upon what the editor calls the railway 
monarchs of America— the Vanderbilts, Goulds, 
Garrets, Gowens, etc. The object seems to be 
to bring home to the British public that though 
the United States is a Republican country, its 
people to-day are dominated by a power which 
is imperial both as regards the territory and 
capital which it controls, with a corresponding 
influence as regards political importance. We 
quote: — .',■■■'>:.-;;•..■■■ ^ -.-■-'■■. '/■.■■, r^. :.■■ ■.. 

No potentate has ever wielded a chairman's sceptre 
here endowed with anythinj? like the amplitude and 
eplendor of the royal prerogatives which appertain to 
railway presidents in the United States. A representa- 
tive character is always seen to belong to the nilers at 
English Railway Boards. They are not only elected, 
but elective. In the United States, a raUway president, 
when once chosen, governs by a sort of right divine. 
At all events, he exacts passive obedience. Each ad- 
ministers his section of territory with absolute power. 
He signs treaties by which neighboring sovereigns bind 
themselves not to trespass. When they transgress 
what he construes to have been stipulated he retaliates. 
These illustrious personages do not court political 
honors. No chief of the State or party caucus would 
venture an invitation to them to accept office, which 
would be sure to be declined. They go about modestly 
among their fellow citizens as if they were ordinary 
men. Their names are seldom heard in Europe, unless 
they have yachting tastes or covet a famous picture. 
Yet they have one hand always on the throat of America 
and another on that of Europe. They decide at what 
price Europe shall eat and for what wages the vast 
American West shall plough. Fortunately, they have 
not soared to the sublime misanthropy of a Roman 
Csesar; or, with their fingers at the common neck of 
both hemispheres, they might in a caprice doom the 
world to starve. - . \v " ;; ^ . • .. - ^ 

These meditations appear to have been in- 
8i)ired by an intuitive apprehension that the 
railroad war, which has now been brought to a 
conclusion, would be followed by another com- 
bination, which will deprive foreign consumers 
of food products of the low rates of transpor- 
tation which were secured to them by the nat- 
ural law of competition. The apprehension 
no doubt was created by the foreshadowing in 
London of the treaty of peace which was con- 
cluded in Commissioner Fink's office last 
week, the first effect of which was to advance 
the rates for east-bound freights. To this ex- 
tent, no doubt, it was a decree "at what price 
shall Europe eat, and for what wages the vast 
American West shall plough." The "Thun- 
derer" must not suppose, however, that the 
power thus exercised by the railway monarchs, 



tremendous as it is, is either hopelessly be- 
yond restraint, or, in the nature of things, 
likely to be perpetual. For the time being, it 
occupies the attitude (always a perilous one) 
of an imperium in imperk). This is a position 
which necessarily places it on the defensive in 
a country where the people themselves, in 
theory at least, are supreme. Just in propor- 
tion as the American public comprehend pre- 
cisely what that position implies with reference 
not only to commerce and trade in all their 
ramifications, but also to their political system, 
will be the popular demand for such legislative 
restraints as will restore the safe equilibrium 
between the railway sovereigns and the sov- 
ereign people. There are many manifestations 
of that demand even now, and he must be a 
very blind or a very deaf man that cannot see 
nor hear them. Under the combination 
system, which shuts out competition, this feel- 
ing bids fair to grow more and more intense. 
Hence, vast as the power of the railway mon- 
arch is, we have no apprehension that, difficult 
as it may be to manage with due regard to all the 
interests at stake, it will ever become wholly 
beyond control, if that is its disposition. In 
a thousand ways it has been and may still 
continue to be a power for good, as an instru- 
ment of national devolopment ; and if in 
many ways it is also a power for evil, we 
think our transatlantic friends maf be assured 
the common sense of the American people, in 
any event, will see to it that while the latter 
is judiciously restrained, the former shall 
neither be causelessly discouraged nor rendered 
inoperative by measures which may be de- 
vised in only panic or fear. — Montreal Witness. 



"Wonders of Simple Tools. 



A COMPLICATED engine, like the common 
wood-worker, the printing-press, a compound 
lathe, or various forms of spinning and weav- 
ing machines, is really one of the most won- 
derful things in the world; most of such con- 
trivances are the product of the combined 
thought, study, experience and ingenuity of 
generations and ages; yet some of the simplest 
tools, either in their construction or use, rej)- 
resent a degree of ingenuity and manual skill 
which is astonishing. . , . l 

A common file is one of the simplest of tools 
to look at, and to a careless view one of the 
easiest to make. Files have been in use from 
the beginning, and rank with the hatchet and 
hammer in simplicity and usefulness. From 



the time the naked savage smoothed his arrow 
head with a bit of sharp gritted stone, and the 
handle of his club with a piece of dried fish 
skin, to these days of finely finished work, the 
race of man has employed some form of file to 
accomplish mechanical results. Yet the mak- 
ing of the hardened steel file which is now so 
universal requires a delicacy of touch and ex- 
actness of movement that is wonderful. 

The diagonal cuts upon the sides of a com- 
mon "three-cornered" file appear to the eye 
to be absolutely regular, uniform in their rela- 
tive distance and alike in depth; the keenest 
vision is unable to detect any irregularity, and 
their cutting seems to be the work of the most 
delicate and accurate machine. A close scru- 
tiny also shows that the cuts grow finer, closer 
and shallower by almost imperceptible degrees 
of variation as they approach the tapering 
point, ' .. 1 

Upon the smaller files of the regular siz^ 
there are more than two hundred of these par- 
allel cuts to the inch, and in some of delicate 
make for special purposes, this degree of fine- 
ness is greatly exceeded. • " i 

Yet this wondrously delicate and accurate 
work is done, not by^ the aid of machines with 
minute micrometer screws and gauges, but 
with a simple hammer and chisel in the work- 
man's hand. The advance of the chisel upon 
the blank at each cut of the two hundred and 
fiftieth part of an inch, neither more nor less, 
is regulated simph* by the unaided sense of 
touch. The weight of the blow, also diminish- 
ing or increasing at each stroke by a fraction 
of an ounce as the cutting approaches or re- 
cedes from the point, is regulated solely by the 
judgment of the workman. All this is done 
without pause or hesitation to correct or re- 
adjust and with a rapidity which shows itself 
in the cheaj^ness of the finished file. 

File cutting is rendered still more delicate 
and difficult by the varj'ing hardness of the 
same bit of steel at different points in its sur- 
face, which would cause blows of equal force 
to make cuts of varying depth and width. This 
unequal hardness must be perceived as the 
cutting progresses and allowanQe must be made 
for it all through the operation. 1 .'-;.. . 

Doubtless all this seems easy enough to the 
practiced file cutter, and he does his work 
without even thinking of these difficulties. Yet 
the education of hand, nerve and brain to such 
a perfection of movement is certainly a most 
wonderful illustration of perfection attained in 
I the use of tools. For more than one hundred 



118 



AMERICAN RAILROAD JOURNAL. 



i. 



.'*• 



years efforts have been made to cut files by 
machineiy \*'ith only jiartial and moderate suc- 
cess, the process, simple as it ajipears, being 
too delicate for less perfect instruments tjian 
the human hand and brain. 



Analysis of Iron. 



Ix the hearing before the Mechanical En- 
gineer yesterday, Prof. George Hays, the ana- 
lytical chemist and expert of Alleghany, testi- 
fied that he had fiom time to time made 
analyses of pieces of iron taken from the en- 
gines which he tested. Six specimens were 
examined. He tried them to detect the more 
deleterious foreign substances. Those discov- 
ered were silicon, phosphorous and sulphur. 

One sample tested showed 3.007 parts of 
silicon; 7.081 of phosphorus, and 0.175 per 
cent of sulphur. Another sample showed 3.08 
of silicon: 6.38 of phosphorus. The third 
sample showed 3,2 of silicon; 7.719 of phos- 
phorus. The fourth sample, silicon, 3.932; 
phosphorus, 6.86. Fifth sample, silicon, 2.65; 
phosphorus, 5.29. Sixth sample, silicon, 2.93; 
phosphorus, 6.39, There was an average of 
0.75 per cent of sulphur in each sample test- 
ed. Sulphur has a tendency to maEe cold iron 
brittle and short. It gives a cracking tendency 
to it. When the iron is hot silicon will cause 
it to crack on being strained or struck. Thus 
it is brittle when either hot or cold. There is 
no pure iron, but good iron should not contain 
more than 1 per cent of silicon, 0.1 per cent 
phosphorus, and of sulphur must not contain 
more than 0.02 per cent. 11 1 

Phosphorus and sulphur are different in 
their agency, one injuring when hot, the other 
when cold. They are never neutral to each 
other, and in no condition or under no circum- 
stances are they harmless, but, on the contrary, 
are exceedingly deleterious. Sulphur, when 
present in large quantities, will make iron 
liable to crack even when the casting is cool- 
ing. The fuel has an effect upon the iron, and 
when either silicon or sulphur is present in it, 
they will impregnate the iron to an extent in 
proportion as they obtain in the fuel. If there 
was more .sulphur and sulphuric acid the result 
would be a lai^e presence of sulphur in the 
product. Charcoal is the best fuel obtainable 
.at the present time. There are ways to make 
more than 1 per cent of silicon, 0.1 per cent 
phosphorus, and of sulphur must not contain 
iron whereby much deleterious substance can 
be avoided. , . i 



Telegraphing to and from a Moving 

Train. 



by a somewhat ingenious arrangement light- 
running wheels can run along them from one 
end of the road to the other. The wheels are 
insulated from each other, but are connected 
with wires that pass down the roof of the car 
to the operating instrument, and through it 
complete to the circuit. As the car moves the 
wheels are drawn along on the wires just above 
it, and a constant current of electricity is main- 
tained between the initial and terminal sta- 
tions through the moving car. 

Without attempting to enumerate the advan- 
tages of the invention, some of the more obvi- 
ous may be mentioned. All train reports and 
all orders from train dispatchers will be com- 
municated directly to the conductor and en- 
gineer while the train is in motion. Passen- 
gers can receive and transmit messages at any 
moment during their journey without any of 
the inconveniences now experienced. Direct- 
ors and distingiiished parties traveling in their 
own private cars will find it especially conven- 
ient to have a telegraph office constantly at 
hand. But the one great value of the invention, 
after all, will be its preservation of life and 

property by preventing collisions. 

— ^ 

Trunk Line Commission Hearings. 



At a meeting of the new Trunk-Line Com- 
mission recently held in this city it was decided 
that the following daj's should be fixed for the 
hearing of commercial bodies desiring to sub- 
mit to the commission their views upon the 
adjustment of rates to the seaboard cities : 
Those of New York will be heard on March 6 
and the rest of that week at New York ; those 
of Philadelphia, in Philadelphia, March 13 and 
the rest of that week, and those of Baltimore, 
March 20 and the rest of that week at Balti- 
more. If the hearing of these bodies requires 
extra time, it will be given. The arrangiag of 
places for the hearings was left to the commis- 
sioner of the trunk lines. The commission 
will hear bodies in any other seaboard city and 
in the West, if they signify to Commissioner 
Fink in New York their desire to be heard be- 
fore March 20. 



Accidents from ** Frogs." 



The Santa Barbara (Cal. ) Press .says that a 
patent was issued on the 27th of September 
last to a resident of that town for a method of 
telegraphing from a moving railroad car. The 
invention enables each freight or passenger 
train to have its own telegraph office. Two 
wires are required instead of one, and these are 
suspended directly over the track and above 
the moving train. They are parallel and about 
eighteen inches apart. One wire is connected 
with a battery at the station from which the 
train starts, and the other with a battery at the 
terminal station. They are so su.spended that 



"It is surprising," says the report of the 
Railroad Commissioner of Michigan for 1881, 
" that in view of the number of lives that are 
crushed out everj' year, by employes being 
caught in frogs, that some device has not been 
adopted to render them less dangerous; They 
are the very jaws of death. An employe once 
caught within their embrace, as a train is mov- 
ing upon him, has little hope of escape. The 
last legislature passed a bill upon this subject, 
requiring railroad companies to block the points 
of danger, which, upon a full investigation, 
was deemed impracticable, and it failed to be- 
come a law. It would seem that some method 
could be adopted to prevent the foot being 
caught which would be practicable, and not 
interfere with the full use of the switch. I do 
most earnestly urge upon the railroad compa- 
nies the attempt at least to devise some such 
system. Humanity demands it. It will not do 
to say that employes shotdd not go between 
cars when they are in motion for the purpose 



of coupling, and therefore no remedy shoull 
be devised. The accident does not always oo 
cur in coupling, and although in coupling, the 
cars to be connected may be standing still, tlis 
cars moving toward them may come with suca 
motion as to cause the brakeman to be caught 
in the frog. The stick which is adopted by 
some roads does not remedy the evil, for fre- 
quently the difficulty in coupling is such that 
there is no other way than to pass between the 
cars. There is no question but that the frog 
in its present condition without some guard is 
barbarous. I hope some action will be taken 
to remedy it. If the railroad companies wili 
not, the legislature should." 

'■■■-■■■ ■ -^^^^m r- iv. ...''.'" - 

Sierra Nevada and Consolidated Imperial 
Mining Company . ; ;V^, ■ 



A STATEMENT was recently made that $93,- 
000 of the $100,000 levied by the Sierra Nevada 
Mining Company on the 29th Dec, and which 
became delinquent at the office Feb. 1, had 
been paid, leaving only $7,000 to go into the 
delinquent list. This is a good showing for 
any mine at any time. It is particularly good 
at this time, and is especially noteworthy in 
the case of the Sien'a Nevada Mining Com- 
pany, which has made such frequent and 
heavy drafts on the patience and purses of 
stockholders during the past three or four 
years. During the four years ending May 1, 
1881, this company levied twenty assessmeLts 
aggregating $2,750,000. Since then, including 
the pending assessment, it has levied four 
more, each one being $100,000, making twenty- 
four since May 1, 1877, the whole aggregating 
$3,150,000, all of which has been paid out for 
labor and other expenses, together with the 
value of the bullion produced during the in- 
terval. It must have cost nearly $5,000,000 to 
have kept the Sierra *Nevada Mine in operation 
during the past five years. All the assessments 
levied in these days are not paid so promptly. 
An illustration of this is found in the Consoli- 
dated Imperial. This company levied an 
assessment of 10 cents per share on the 4th of 
January. There are 500,000 shares in the cap- 
ital stock, which is the largest number of any 
mine on the Comstock Lode, except the Cali- 
fornia and Consolidated Virginia. This assess- 
ment became delinquent at the office yester- 
day, and the delinquent list is published in a 
morning paper, filling nearly five of the long 
columns of that paper. This shows great de- 
lay in the payment of the assessment, if 
not absolute refusal on the part of very many 
of the stockholders. In fact, there is not 
much encouragement to pay up. The stock 

has been selling of late, in a limited way, at 5 
cents per share. After the assessment became 
delinquent there was one sale recorded at 15 
cents, but yesterday the assessment-paid 
stock was sold for 10 cents, or just the price of 
the assessment. Unless there is some change 
for the better very soon, it is feared that a 
large portion of the stock will be forfeited to 
the company for non-payment of the assess- 
ment. — San Francisco Bulletin. - , ... 



A LADY, stepping into a railway car, said to 
her little son, " Aren't you going to kiss your 
mother before you go?" The little rogue 
couldn't wait, and called out, "Conductor, 
won't you kiss mother for me ?" i„- 



AMERICAN RAILROAD JOURNAL. 



119 



PUBLISHED WEBKXiY BY THE 

AMEBICAN BAIIiROAD JOURNAL CO., 
284 Pearl St., cor. Beekman, New York. 

Subscription, per annam, in advance ... $5 00 

Foreign Subscription, including postage 6 00 

Subscribers are requested to report to our ofllce any 
irregularity in receiving the Jodbnal. 

Contributed articles relating to Railroad matters gen- 
erally, Mining interests, Banking and Financial items, 
Agricultural development, and Manufacturing news, by 
those who are familiar with these subjects, are especial- 
ly desired. 

Payments for advertising and subscriptions should be 
made by check payable to order of the Treasurer. 



Mr. Fbedebio Algar, Nos. 11 and 12 Clements Lane, 
Lombard Street, London, E. C, England, is the author- 
ized European Agent for the Joubnal.-;.' . -7 ;; . • ^ r 



Ax the annual meeting of the American Railroad 
Journal Co., held at the ofllce of the Company, No. 284 
Pearl street. New York, February 8, the following ofll- 
cers were elected : 

• GEO. F. SWAIN, President. 

S. PROCTOR THAYER, Vice-President. 
, , EDW. A. WRIGHT, Treasurer. 
i CHAS. T. VALENTINE. Secretary. 



New York, Saturday, February 25. 1882. 

Entered at the Post Office at New York City as Second-Class 
Mail Matter. 

THE MONEY MAKKET. 



TT is easy for a child to look at a cloud no big- 
ger than a man's hand as it begins to form 
in the sky. There is a certain sense of 
pleasure in watching the lightning's play, and 
liearing the low rumblings of the thunder 
when the cloud is far removed. But when 
the cloud in its onward march comes 
so near as to roof the head, and darkness 
covers the spot as with a pall, and the 
lightnings flash into the eye, and the thunders 
roar angrily into the ear, and the rain falls in 
torrents as if to deluge, then the child with a 
sharp cry of terror flies for safety to mother's 
arms. When next the child at play sees the 
little speck, he will not wait for the storm cloud 
to gather over him, but will run for refuge 
until the storm is over and the sun shines 
again. Men are but children of a larger growth, 
and yet, as men, do not always manifest the 
corresponding proportion of wisdom shown by 
children. There are men in the business world 
who many years ago watched the little speck 
no larger than a man's hand in the money 
market; and, beguiled by the fascination, kept 
from under cover until the storm burst upon 
them in all its fury, and when they reached 
cover it was with wet and soiled garments. 
Some of these men have displayed the com- 
mendable wisdom of childhood, and whenever 
they have seen the small cloud arise, have 
hastily placed themselves in a position of safe- 
ty. There are other men, however— and these 
last are in the great majority— who never profit 



by experience, but each recurring storm finds 
them exposed, and in consequence they are 
broken by the blast, and in being broken break 
and pull down others, v '^C, j 

It is well at this time, when apparently we 
are in no immediate danger, to utter the wam- 
ii^ cry that the speck no larger than a man's 
hand has already appeared in the sky. 

A niimber of specks floating in the sky will 
be attracted toward one another and form the 
cloud. A number of clouds in the sky will be 
attracted to one another.and, forming a pall, will 
cover the earth, hiding from human sight all 
above and beyond. ' " ' 

The principle that can be applied in one de- 
partment is never found to be out of place or 
in opposition to anj' principle in some other 
department. Principles always run in paral- 
lel lines and never cross one another. Now the 
speck in the money market which has been 
gathering to itself other specks, which, when 
enough are added will form a cloud, is the 
abundance of currency experienced last sum- 
mer. This abundance made consequently low 
rates, and parties whose credit would pass 
could not resist the temptation to borrow for 
the sake of making a lucky venture. We there- 
fore have a feature in the money market to-day 
which is ominous of evil. The money not 
needed in regular business channels last sum- 
mer found an outlet in speculation. Some of 
it went into the grain speculation out West and 
has not been withdrawn. Some parties who 
had not more to send after that they had al- 
ready placed have been obliged to sujgpend or 
fail, and the outlook is that other failures must 
follow. 

This grain speculation does not stand alone, 
though given the first prominence because 
occupying public attention at the present time. 
There is another speculation the hidden his- 
tory of which has not yet been written. We 
have reference to the speculatioti in mining 
stocks. As we look over the list reported in 
the daily papers we notice a large majority 
wfeich do not pay dividends. People buy them 
in the hope that a bonanza may be their por- 
tion. The number of shares sold precludes the 
possibility that the purchasers have paid for 
them with their own money. The truth is al- 
most self-evident that much borrowed money 
has entered into these purchases and the lend- 
ers are holding the stock as security. The time 
must come when these loans must be paid, 
and the borrower, unable to realize on his stock, 
will be unable to pay ; and the lender, selling 
out the stock to satisfy his claim, will learn that 
his securities are no more valuable than paper 
sold at so many cents per pound. When this 
takes place the market for business notes will ' 



be disturbed. It is safe to stjite that a large '■ 
per cent of the business not«s regularly bought 
and sold are but renewals. Here is a firm doing 
a business requiring a million dollars, having 
but a few hundred thousand dollars capital 
of their own. They place on the market their 
six months' notes to the amount of five hun- 
dred thousand dollars in monthly installments 
of a hundred thousand dollars each. At the 
end of the fifth month they have the whole 
amount placed. During the sixth month they 
issue another hundred thousand dollars worth 
to take up the hundred thousand falling due; 
and so on, month by month. They never re- 
duce this floating indebtedness, content to pay 
the market rate f or discoxint and the one-fourth 
per cent commission to the brokers. Tighten 
the money market by a break in a grain spec- 
ulation, or a falling out of the bottom of stocks 
held as securities, and these merchants are go- 
ing to find it hard work to rei>lace their old notes 
with new ones. The lenders need the money 
themselves. The speck no bi^er than a man's 
hand was tBe low rate of interest last summer 
because of the abundivnce of money, and it has 
already attracted to itself the other specks of 
grain speculation, gambling in mining stocks, 
and an undue expansion of business on bor- 
rowed money. How many more specks are 
necessary in order to make a cloud, no man can 
foretell. The wise man, however, will see these 
and get under cover while he is safe. 



THE NEW TBUNK-IilNE COMMIS- 
SION. 



'T^HE railroad war that has raged for the past 
seven months seems to be settled at last. 
Under the new arrangement both tonnage and 
money receipts are pooled and divided by a 
commission chosen by the great trunk lines. 
With this commission each road deposits a 
fixed sum of money as a penalty to be forfeited 
in case of the violation of the agreement. A 
new feature is the power given to the commis- 
sion to give judgment against an oflFending 
member of this voluntarj- association and a 
modification of the clearing-house system, by 
which the due proportion of the business will 
be given to each road, may be expected. An 
effort will also be made to cut off the numerous 
freight agencies, by which competition has been 
ruinously stimulated. . - 

The commission as selected by Albert Fink, 
the so-called commissioner of the railroad 
trunk lines, is beyond praise. Probably no 
private citizen of the United States ever had 
to make appointments of such importance; and 
although it may seem strange that he should 
let the Empire State go unrepresented, the 
wisdom of his choice, cannot be questioned. 



^iA.i 



.■:.^^miJ Iti..* liiil iV. 



«.Abd^>.> 



120 



T»wf^f^PI'?W!?W*r 



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AMERICAN RAILROAD JOURNAL. 



.H 



The men appointed are Judge T. M. Cooley, of 
Mii'bigiin, the well-known authority on consti- 
tutional law, ex-Senator Thurnian, of Ohio, 
find Elihu B. Washburne. of Illinois. This 
eomiuission, which takes a prc-sidential can- 
didate frt)ui each i)t)litical party, would seem 
to be able to settle all disputes between rail- 
road companies. . J I i 

The appointment of this commission might 
be instanced as example of the inadequate- 
ness of our whole judicial system, when in- 
terests of such magnitude are frightened at the 
"law's delays " and establish their own tribu- 
nal. When a Justice of the Supreme Court of 
the United States who has been physically 
unable to sit njion the bench for two years 
past insists upon being i)ensioned before he 
will resign, although the court is several years 
behind with its cases, then it chooses those 
who cjin afford it to make courts of their oMn. 
The appointment of the commission is a' far 
more creditable exhibition, considered as an 
indication of the capacity of our people for 
self-government. When great corporations 
representing enormous aggregates of capital 
voluntarily entrust the settlement of their dis- 
putes to a tribunal of their own choice the 
spectacle is an impressive one. - [ ... {• 

Althoiigh the new commission wiU compare 
favorably with our Supreme Court at Washing- 
ton, its jurisdiction is practically confined to 
matters in dispute between railroads them- 
selves. It does not take cognizance of a multi- 
tude of important questions arising between 
private citizens and railrt)ad coii^orations. 
Through rates aye to be considered; but is there 
no tribunal to inquire why "human life is so 
cheap" upon railroads? As long as it is 
cheaper to hire new brakemen to replace those 
killed than to adopt new appliances, there are 
some railroads that will take little or no pre- 
cautions until compelled to do so. State rail- 
road commissioners, with reasonable, not 
oppressive, authority are needed in every State 
in the Union, and the sooner such boards 
are created in States without them the better 
it will be for railroads and citizens alike. 
' It is worth while, in this connection, to ex- 
amine the relation which has existed during 
the past seven months between cost of trans- 
portation from the interior to the seaboard 
and the price of provisions at Eastern ports. 
According to the theory of the anti-monopolists 
this reduction of freights ought to have been 
of great advantage to producer and consumer. 
But the trade returns of the country show that 
our sales of breadstuffs and other great staples 
have greatly fallen off during this period of 
low freight rates. During the first three 
months of 1881 the domestic export increased 



over that of the previous year, during the 

summer it was nearly stationary, but in the last 

four months of the year it fell off $61,000,000^ 

so that the comparison of our international 

commerce with 1880 stands as follows :— 

1881 1880 

Exports $883,51 4.129 $889,683,422 

Imports 670,117,903 696,807,176 

— — •. 

Balance $163,396,222 #192,876,246 

Short ci-ops have had something to do with 
this decline in exports, and wild sjieculation a 
great deal more, but the fact remains that the 
cost of transportation is not the sole factor but 
one of many elements to be reckoned in con- 
trolling the foreign market, and the price even 
at eastern ports. 

ATLANTIC AND PACIFIC RALL- 

ROAD. 



'T^HE Atlantic and Pacific Railroad Company 
was organized under an act of Congress 
passed In 1866 to construct a road from the 
southwest corner of Missouri to the Pacific 
Ocean, along the 35th parallel of latitude. 
Authority was given to the Southern Pacific 
Railroad to build the San Francisco end in 
California, the meeting point being designated 
at the Colorado River. The Southern Pacific 
was a California corporation ; and the South- 
west Pacific, a Missouri corporation, was expect- 
ed to form the St. Louis connection so that it 
provided for a line between St. Louis and San 
Francisco composed of three links, the central 
one over the Territories being a United States 
coi*poration. The Atlantic and Pacific was 
consolidated with the Missouri company, and 
after leasing the Missouri Pacific seems to 
have gotten into trouble, so that the Missouri 
end of the line was sold out and re-organized. 
About this time the Atchison, Topeka and 
Santa Fe, a Kansas corporation with abundant 
ambition and designs in California and Mexi- 
co, seems to have entertained the idea of 
strangling the Atlantic and Pacific as a compet- 
itor and diverting it from its original jiurpose 
so as to become a mere feeder and extension of 
its own line from the Rio Grande into San 
Francisco. A very curious agreement was 
entered into between the Kansas company and 
the Missouri companies to divide the owner- 
ship of the Atlantic and Pacific evenly between 
them, the precise consideration for which is 
not apparent. One feature of the transaction 
is noticeable : it was stipulated that the Atlan- 
tic and Pacific west of its intersection with the 
Santa Fe road near Albuquerque should be 
completed at once as far as the Pacific Ocean, 
at the ^oint expense of the two companies, and 
that it should be worked under a traffic agree- 
ment for thirty years; at the same time making 
the building of the portion east of Albuquerque 



conditional upon the consent of both com- 
panies. This was, in effect, tying up the longer 
eastern portion of the road so as to allow the 
business of the western portion, including the 
overland traffic, to be diverted to its rival ; and 
in practice it resulted in taking away the 
greater part of the benefit from the St. Louis 
end of the line, although it was ecjually sus- 
taining the obligations of construction. ;,.: . 

Some suspicion of the inequity of this trade 
seems to have dawned upon the St. Louis own- 
ers, but to all their appeals and protestations the 
Santa Fe company turned a deaf ear, or pointed 
to the terms of the agreement. In this dilem- 
ma the large stockholders offered to the owners 
of the Santa Fe to either buy out or sell out 
the other half of the Atlantic and Pacific, as 
harmony was no longer possible. The Santa 
Fe people, whose headquarters is in Boston, 
would do neither— nothing would satisfy them 
but the pound of flesh bargained for — expect- 
ing doubtless to make better terms. |: ■• 

The St. Louis comjjany, whose headquarters 
is in New York, do not seem to have been 
shut up to this alternative ; for though they 
could not dispose of their half interest in the 
Atlantic and Pacific to outsiders, they could 
sell the controlling interest in their own road— 
the St. Louis and San Francisco. Messrs, 
Gould and Huntington became the purchasers, 
and the Boston parties were taken by surprise. 
The Boston papers announce — and we see the 
St. Louis journals echo without reflection the 
statement — that the tei'ms of the agreement 
made some years since will be carried out. 
This, we venture to say, is extremely improb- 
able, so far as concerns the extension between 
Albuquerque and, San Francisco. It is doubt- 
less true that the southern branch to Ft. 
Smith, Ark., will be completed and the right to 
continue on down to Texas procured, but not 
to connect with the Texas Central, as was 
originally contemplated. We hear it stated 
that Mr. Huntington will demand that the con- 
tracts of the company he now in part directs 
shall be modified so as to conform to the re- 
quirements of the acts of Congress, to justice, 
and to good sense. The Southern Pacific will 
complete the line from near Tehachapa Pass 
to the Colorado River, some 300 miles, and 
will insist that the Atlantic and Pacific shall, 
after meeting there, stop. This is all the law 
calls for, and it would be a great waste of 
money to parallel 650 miles of the Southern 
Pacific for no other purpose than to carry out 
this designing scheme of the Santa Fe com- 
pany. There are too many gi-eat corporatiors 
concerned in seeing the balance of power kept 

undisturbed to permit this to be done ; and ti 
is safe to predict that the Boston party will 



' .aJL^ie'a,: 



AMERICAN RArLROAD JOURNAL. 



121 



find some tenns for settlement, as they have all 
to lose and nothing to gain by protracted litiga- 
tion. 



THE CENTRAL RAILROAD OP NEW 

.•■ •';:^:v- ■■: JERSEY. ••;• :,./.;: ■■.•'.-. ■, 



A N interesting contest is pending for the 
■^ *■ control of the Central Kailroad of New 
Jersey, in which seveml larger concerns are 
participants. Among the persons may be men- 
tioned Mr. Gowen, of the Philadelphia and 
Beading, Mr. Garrett, of the Baltimore and 
Ohio, Mr. Vanderbilt, of the New York Central 
and Hudson Kiver, Mr. Koberts, of the Penn- 
sylvania, Mr. Gould, of the Wabash, St. Louis 
and Pacific, Messrs. Taylor and Sloan, of the 
Delaware. Lackawanna and Western, and the 
party behind the receiver, who are, in a sense, 
in possession, and which consists of Messrs. 
F. S. Lathrop, J. T.Johnston, F. T.Frelinghuy- 
sen, J. S. Kennedy, and a few others. The sit- 
uation is as interesting to the railroad strategist 
as to the public. The Central Railroad of New 
Jersey as it stands to-day is not much of itself, 
nor of great extent even with its branches and 
controlled lines, but its position is one of great 
importance. Although it is essentially only a 
coal road between New York Bay and the an- 
thracite regions, with a more or less valuable 
local suburban tnvvel in addition, it enjoys 
absohitely the finest water front of any of the 
great roads centering in New York. Besides 
this it forms part of a short line not much used 
to Philadelphia; also of a line not at all used to 
the Southwest via Allentown and Harrisburg ; 
also of a line but little used to the Northwest 
via Elmira and Buffalo, and what is and must 
be the best line to the Jersey shore summer re- 
sorts, of which Long Branch is chief. In a 
word, the Central of New Jersey, by its termi- 
nal on New York Bay, by its stem end lying 
across the State of New Jersey along the line 
separating the mountainous from the flat part, 
and by its extension into the coal-fields, is in 
an admirable position to become the trunk- 
line of a great system of inland transportation, 
if it is not to become absorbed in some other 
and stronger system. The struggle promises 
to become intense ; and as the forces are so 
powerful and evenly balanced that no one can 
overcome all the rest, it may result in a con- 
tinuance ef the deadlock and harmless neu- 
trality, much like the position of Holland or 
Belgium among their colossal European neigh- 
bors. 

Before glancing at the several things which 
may happen in future, it may be well to turn 
and see what has been done, or rather failed to 
be done, in the past. Never was there a prop- 
erty of the size and capabilities which suffered 
so much from incompetent and feeble manage- 
ment. To go no further back than to the close 
of the war, when it had acquired its grant of 
riparian rights on the Jersey shore of the Hud- 
son, there have been several things which ought 
to have been done which were not done, and 
some done which should have been omitted. 
The following, among many, may be noticed. 
At that time the Lehigh Valley railroad formed 
the coal-field connection ; instead of consoli- 
dation with that road, of which the late Mr. 



Packer was owner, his overtures were rejected, 
and the result has been a duplication of the 
Lehigh Valley north of Easton, the two roads 
lying side by side on the opposite bank of a 
narrow stream. As might have been antici- 
pated Mr. Packer met this move with a dupli- 
cation of the Central line south of Easton, the 
freight tracks being laid via Bound Brook to 
Amboy, the Pennsylvania being used for New- 
York business. Similarly the Delaware and 
Lackawanna then used the Central for its New 
York traffic, which was large. Here, again, 
offers for consolidation were refused, and 
another great coal company driven to a lease of 
the Morris and Essex, and the construction of 
a low grade road to Hoboken. Both of th'sse 
great interests might have been united with the 
Central. Instead of being repulsed they should 
have been foreseen and promoted by its man- 
gers, if the officers can be so called. 

Still later, when the Pennsylvania took in the 
Camden and Amboy system at a rental of ten 
per cent upon the capital, and allowance for 
betterments, thus depriving the Allentown line 
of through traffic (short line) instead of secur- 
ing the then feeble line between Allentown, 
Reading and Harrisburg, and prolonging them 
to Hagerstown or Pittsburg, the Central direc- 
tors allowed these lines to go into the hands of 
the Philadelphia and Reading. Again, when 
the Philadelphia parties controlling the North 
Pennsylvania, proposed to use it as part of a 
line to New York, by building the Bound Brook 
connection, instead of seizing that link, or 
uniting the whole three interests, they mani- 
fested indifference, and the line was built by 
Philadelphians and ultimately passed under 
the control of the Reading Company. What 
wonder that President Gowen desired to either 



possess this New Jersey connection or have it » there ia no great disparity in their financial 



pass into the hands of those who knew how to 
put it to some appropr'ate use ! - i- ~ i 

Within two years President Garrett of the 
Baltimore and Ohio Railroad, finding an inde- 
pendent entrance to New York a necessity, 
abandoned the Pennsylvania route and started 
a through line over the Central and Reading 
Bound Brook route. All through this contest 
the officers of the Central have acted as if they 
feared the Pennsylvania, and dared not enter 
into any alliance which might provoke it, 
although it was at the same time opposing 
them at many points, and notably their attempt 
to build a bridge across to Jersey City. In 
short, Mr. Garrett was not supported, and to 
this may be in part attributed his subsequent 
loss of the Philadelphia. Wilmington and Balti- 
more line, which the Central and Baltimore 
and Ohio together could have paralleled if they 
could not buy. - v^ ' >'^ i . 

Nor was the administration of its local affairs 
any improvement on that of its foreign rela- 
tions. Its 50(1 acres of unrivalled terminal 
were allowed to lie comparatively' unused when 



for its passengers might have been had, having 
Newark as one of its stations, and thus have 
delivered back blows at its rivals. Whether it 
was supineness, stupidity, or the presence in 
its board of persons who were also officers of. 
and under obligations to, the Pennsylvania 
need not be discussed : the Central's career has 
been one of lost opportunities and failures. 
Nevertheless its magnificent water front re- 
mains, and something might yet be done for 
the property with a change of managers. Some 
of the lost ground never can be regained: let us 
see what remains now to do. 

First of all we set down the proposition, at 
one time formed, of making the Central the 
New York approach of the Wabash and Pacific 
system, as a barren one, which might as well 
be abandoned. The Wabash points towards 
Buffalo, and Mr. Gould has as much interest in 
the Lackawanna extension to the latter point 
as he has in the Central, if his ownership in 
either at a particular moment should mean 
anything. Mr. Garrett wants the Central as a 
part of his Baltimore and Ohio system, for 
which it has many attractions, but he requires 
the consent of the Reading to the portion be- 
tween Bound Brook and Philadelphia, or be- 
tween Allentown and Hagerstown, which 
neither Mr. Gould nor Mr. Vanderbilt will 
favor. This, then, may be dismissed also, at 
present, as too many adverse interests oppose. 
Mr. Garrett having to build half the distance 
between Philadelphia and New York, may as 
well build across New Jersey also, and in 
arri^-ing at the Hudson will find the Lehigh 
Valley Companj' with a shore privilege almost 
equal to that he now covets. As to the Read- 
ing designs, it is quite clear that the two sys- 
tems touch and compete at several points ; 



conditions, and they can be worked together. 
The Lehigh Valley, however, intervenes and 
ought for obvious reasons to be included in any 
new combination. r . - 

A confederation of these three properties, on 
terms of equity, would present a formidable 
front, and ought to be attempted in order to 
avoid serious complications. The extension of 
the Lehigh Valley beyond Elmira affords the 
New York Central the connection it desires to 
the coal regions and Philadelphia. The Harris- 
burg and Hagerstown branch would suffice at 
present for the Baltimore and Ohio purposes. 
A southern prolongation from Wilmington to 
Baltimore, under the same auspices, would 
complete the circle of defences. It is doubtful 
if the present incumbents have either the 
sagacity or nerve to bring this about, and it 
remains to be seen whether they can be dis- 
lodged from their position where they can i)re- 
vent others from doing the good they are unable 
or tinwilling themselves to undertake. Mr. 
Grould, Mr. Keene, Mr. Garrett, or Mr. Gowen 
might do something with the property, but the 
old set evidently are equal to nothing but 
inertia. 



•' I HAVE heard/' said Gus De Smith to Mose 



dock privileges were scarce and high ; with j Schumburg, '• that the fellow who stole your 

ample room its terminal structures are shabby 

old sheds, while its alignment is open to great 

improvement so as to render its operation more 

safe, speedy and efficient. For example, by the 

easy construction of a cheap line across the 

salt meadows between Elizabeth and the head 



of Newark Bay a more direct through route j traveling expenses outen my own pocket." 



money and ran off with it has been killed in 
Colorado. He has certainly gone to Hades. 
You had ought to be glad." " I would pe much 
more glad veni got my money pack," responded 
Mose ; " it don't do me no good ven dot tarn 
rascal goes to dot blace, ven I have to pay his 



122 



AMERICAN RAILROAD JOURNAL. 



Jr-:: 



PERSON Ali. 



Pratt 



J. Whitmore has been appointed traffic man- 
ager of the Fitchburg Raihoad. I i . 

C. H. Parker, editor of the New Orleans 
■ Vicaynne, has been elected secretary of the 
National Cotton Exchange. i i 

James G. Porter, superintendent of the 

AVoodstock, Vt., Railrotid, has been elected 

treasurer, vice F. W. Clarke, deceased, and 

Charles M. Marsh clerk, in place of L. O. 

"Greene, resigned. •■:-■; ..:.'• ,rV''v- -^ ■-.: t ;-■'■■' ■'■- '1--; 

The officers of the Peabody Institute, Balti- 
more, elected on the 13th inst., are : Presi- 
dent, Charles J. M. Eaton ; vice-presi 
George \V. Brown ; treasiirer, Enoch 
secretary, Geo. P. Tiffany. 

Hon. John Cessna has been elected president 
of the Bedford and Bridgeport Railroad Co., 
r.nd J. N. DuBany president of the Mifflin and 
Center County Railroad Co., both branches of 
the Pennsylvania Railroad. 

C. S. Coone, Jr., general ticket agent for the 
Ohio and Mississippi Railroad, was killed on 
that railroad on the ITth inst. near North Ver- 
non, Kentucky. He put his head out of the 
window and it was struck by a bridge. 

Charles W. Stevens, formerly of San Fran- 
ci.-<eo, died on the 14th inst. at 165 East Twen- 
ty-seventh street, New York, where he had been 
living for the past four months with his family. 
Mr. Stevens was a civil engineer and master 
mechanic. He built the first locomotive run 
in California, and superintended the building 
of the first railroml in Oregon. j | 

Hon. Abram S. Hewitt made a short, pithy 

speech in the House of Representatives at 

Wiishington on Saturday, last, in which he 

said in substance : " There are two dollars by 

law in this country^a gold dollar and a silver 

dollar, the latter worth only 87J per cent as 

much as the dollar which is current in the 

markets of the world. Commerce, wiser than 

Congress, rejects the inferior dollar, and the 

consequence is that the dishonest, cheating 

dollars continue to pile up in the treasury. 

There is only one standard of value— the gold 

dollar— and the present silver dollar is fiat 

money in its worst shape." 



ware City Railroad for the Pennsylvania Rail- 
road Company's short cut between Baltimore 
and the Peninsula were made on the 18th inst., 
and trains will begin running in a few days. 

Ground was broken on the 20th inst. near 
Kiamin.s, D^., for the Baltimore and Ohio 
Railroad Company's new line to Philadelphia. 
Thin is done in compliance with the Dela- 
ware charter, which requires the work to be 
commenced before the first of March. 

Work on the Lake George Branch of the Del- 
aware and Hudson Railroad is being pushed 
forward, and it is expected that the road will 
be in operation by June 1. The Saratoga spe- 
cial train which, during the summer, leaves 
Troy at 8 A. M., will run through to Lake 
George. 

John A. Dalrymple, chief engineer of the 
proposed Iron Valley and Pennsylvania Line 
Rixilroad, has prepared a report of his survey 
of the experimental line. It extends from the 
southern boundary line of Penn.sylvania, at the 
intersection of Big Sandy Creek, to a point on 
the Baltimore and Ohio main line near the 
mouth of Raccoon creek, a distance of about 
forty miles. It passes through a region rich in 
coal, iron, fire-clay and timber, and throTigh 
large and 'thriving agricultural sections. This 
line seems to be a small undertaking in this 
day of great enterprises, yet its projectors claim 
that it forms a link in what is known as the 
West Virginia Central Railroad, designed to 
connect with the Kentucky and Great Eastern 
Railroad, chartered by the State of Kentucky. 



ORGANIZATION. 



CONSTRUCTION. 



The Montreal and Sorel Railway ia being 
rapidly pushed forward, and it is expected 
that it will be completed by the opening of 
navigation. 

The Mexican government having accepted 
an additional section of the Mexican Central 
Railway, that line was opened for public busi- 
ness to the city of Querttaro on the 18th inst. 

The last rail of the second track through the 
Hoosac Tunnel was laid a few days ago. There 
is some ballasting and other work to be done 
yet, and the new track will not be used for a 
few weeks. 

Trains on the Port Huron and Northwestern 
Railway commenced running regularly between 
East Saginaw and Port Huron on the 14th inst. 
Iron on the Sagina'a', Tuscola and Huron Rail- 
road reached Sebewaingon the 18th. r 

Thk connections on the Newark and Dela- 



The directors of the Richelieu and Ontario 
Navigation Compan3% elected at Montreal on 
the 11th inst., are: Alex. Buntin, Alex. Murray, 
Victor Hudon, Adolph Desjardines, R. Cowans, 
J. B. Renaud and L. A. Senecal. 

The officers of the Schuylkill Navigation 
Company, elected on the 14th inst., are: Presi- 
dent, Frederick Fraley; Managers, John N. 
Hutchinson, Charles W. Wharton, George 
Brooke, Charles Bauer, Michael Ward, Thomas 
R. Patton; Treasurer and Secretary, Richard 
Wilkins. 1- :.-J- : '-•. . -. - 

The managers of the Philadelphia and Erie 
Ri\ilroad Company, elected on the PJth inst., 
are: J. N. Du Barry, Wistar Morris, Strickland 
Kneass, Samuel Gustine Thompson, John P. 
Wetherill, N. Parker Shortridge, Henry M. 
Phillips, Henry D. Welsh, William J. Howard 
and William L. Elkins. .. /- 

Af a meeting of the directors of the Atlantic 
and Pacific Railroad Company in Boston on 
the 10th inst., to ratify and confirm the finan- 
cial plan for the extension of the road, B. P. 
Cheney, Levi C. Wade and Alden Speare were 
chosen directors for the Atchison interest, in 
place of Messrs. Coolidge, Wilbur and Lord. 

The stockholders of the Cincinnati and Bal- 
timore Railway Company met in Cincinnati 
on the 15th inst. and elected the following 
directors: W. T. McClintock, Robert Garrett, 
John Waddle, W. W. Peabody, R. A. Holden, 
George Hoadley and B. S. Cunningham. The 
board organized ty the election of W. T. Mc- 
Clintock, President; C. F. Low, Secretary; and 
W. E. Jones, Registrar. - :- .. ■ 



At the annual meeting of the stockholders 
of the Sixth Avenue Railroad Company, held on 
the 14th inst., the following ticket, containing 
the names of the directors for last year, was 
elected: Richard Mortimer, G, W. Burnham, 
Frederic De Peyster, Jonathan Thome, T. R. 
Butler, Abram R. Van Nest, Henry Demarest, 
William Bryce, William Y. Mortimer, Albert W. 
Green, Theodore E. Maey, Abijah Curtiss and 
Charles G. Landon. 

The directors of the Marietta and Cincinnati 
Railroad Company, elected at a meeting of the 
stockholders held in Cincinnati on the 15th 
inst., are: John Waddle, Robei't Garrett, Henry 
C. Smith, Wm. T. Burns, W. W. Scarborough, 
J. D. Lehmer, R. M. Bishop, George Hoadley, 
W. F. McClintock, Wm. Waddle, W. B. Loo- 
mis, Theodore Cook, W. W. Peabody. The 
directors organized and elected John Waddle 
President, C. F. Low Secretary, and Wm. E. 
Jones Registrar, ^v.-^ . -■': ■ v .:•;::;[ .>. - 

At a meeting of the stockholders of the 
Memphis and Little Rock Railroad Company, 
held at Little Rock, Ark., on the 15th inst., the 
following board of directors was elected : Jay 
Gould, F. A. Marquand, Charles Essex, E. K. 
Sibley and D. C. Brown. The board then 
elected the following officers : F. A. Marquand, 
President ; E. K. Sibley, General Manager ; 
Thomas Essex, Land Agent; A. H. Calef, 
Treasurer; and M. A. Goodwin, Secretary and 
Assistant Treasurer. 

At the annual meeting of the Indianapolis 
and St. Louis Railway Company, held at Indi- 
anapolis, Ind., on the 15th inst., the following 
directors were elected: J. H. Devereux, S. 
Burke and E. B. Thomas, of Cleveland; J. N. 
McCuUough and T. L. Messier, of Pittsburg, 
and Geo. B. Roberts, of Philadelphia. The 
directors organized as follows: J. H. Devereux, 
President; Edward King, Sefcretary and Treas- 
urer; Russell Elliott, Auditor; C. C. Gale, Gen- 
eral Superintendent. , .• / - j 

At the annual meeting of the Old Dominion 
Steamship Company, held at the Company's 
office in this city on the 13th inst., C. P. Hunt- 
ington, President of the Chesapeake and Ohio 
Railway Company, Geo. F. Tyler, President of 
the Norfolk and Western, and John M. Robin- 
son, President of the Seaboard and Roanoke, 
Raleigh and Gaston and Raleigh and Augusta 
railroads, were elected directors in the place 
of three resigned. Isaac Bell, M. L. McCready, 
John Bodine, Charles P. Fischer, Charles D. 
Stockney and E. D. Hitchens were also elected 
directors. Mr. N. L. McCready was then 
elected President ; Isaac Bell, Vice-President; 
W. H. Stanford, Secretary, and W. L. Guillan- 
son, Assistant Secretary. This Company re- 
cently came under the control of the Chesa- 
peake and Ohio system. V ■ V ' ^ ; ■ " 1 :; 

The stockholders of the following companies 
controlled by the Pennsylvania Railroad Co. 
met on the 11th inst., and elected officers 
as follows: Pennsylvania Coal Company — Pres- 
ident, Isaac J. Wistar; Directors, G. B. Rob- 
erts, Isaac J. Wistar, A. J. Cassatt, Strickland 
Kneass, Wistar Morris, Alexander Biddle, M. 
Hall Stanton, Samuel M. Felton, Simon Gratz, 
Edmund Smith, William J. Howard, John P. 
Green. Summit Branch Railroad — Directors, 



AMERICAN RAILROAD JOURNAL,^ 



:t'.- 



123 



George B. Boberts; A. J. Cassatt, Edmund 
Smith, Strickland Kneas, J. N. I^uBarrj', N. 
Parker Shortridge, John P. Green, Wistar Mor- 
ris, James W. Johnson, Edwin P. Worster, 
Isaac J. Wistar. Susquehanna Coal Company 
—President, George B. Roberts; Vice-Presi- 
dent, Isaac J. Wistar; Directors, George B. 
Roberts, Isaac J. Wistar, John P. Green, A. J. 
Cassatt, Strickland Kneass, Wistar Morris, N. 
P. Shortridge, J. N. DuBarry, Edmund Smith. 
The same officers as those chosen for the Sus- 
quehanna Company were elected to serve for 
the year for the Lykens Valley Coal Company 
and the Mineral Railroad and Mining Com- 
pany. ■.;■;: v.'^:--i-; \, :■::.' . ■■ ~'^^\-'\ry:y''::-\l. -::::::■ 

The annual meetings of the stockholders of 
the Philadelphia and Trenton, the Columbia 
and Port Deposit, and the Western Pennsyl- 
vania railroad companies — all controlled by 
the Pennsylvania Railroad Company — were 
held in Philadelphia on the 15th inst., and the 
following officers and directors elected : Phila- 
delphia and Trenton Railroad — President, 
Strickland Kneass; Secretarj', James R. Mc- 
Clure; Directors, G. M. Dorrance, G. B. Rob- 
erts, Strickland Kneass, Wistar Morris, Alex- 
ander Biddle, Henry M. Phillips, N. P. Short- 
ridge, J. N. DuBarry, J. V. Wetherill, A. M. 
Fox, Edmund Smith and Henry D. Welsh. 
Columbia and Port Deposit Railroad — Presi- 
dent, Strickland Kneass ; Directors, Jacob 
Tome, G. R. Roberts, Edmund Smith, Alexan- 
der Biddle, Wistar Morris, N. P. Shortridge, J. 
N. DuBarry, H. M. Phillips, A. J. Cassatt, W. 
J. Howard, Henry D. Welsh and J. P. Wetherill; 
Secretary and Treasurer, James R. McClure. 
Western Pennsylvania Railroad— President, J. 
N. DuBarry ; Directors, Strickland Kneass, 
Wistar Morris, G. B. Roberts, Edmund Smith ; 
Secretary Albert Hewson ; Treasurer, Tabor 



Ashton. 






Underground Telegraph Wires. 



The full sum of $5,000 required to lay and 
test the underground telegraph wires on the 
plan of Charles L. Gore has been subscribed, 
and the work will be begun at once. Subscript 
tions to the first fifty shares were limited to 
two and a half shares from any one person, or 
the whole amount could have been obtained 
from one of the electric light companies and 
from the Mutual District Messenger Company. 
The original subscribers, who risk their money 
in thoroughly testing the scheme, will be enti- 
tled for every share to forty shares of the stock 
of the company which will be formed as soon 
as the test is made, if it is successful. Among 
those who have thus subscribed are Henry W. 
Pope, of the Mutual ; Robert Brown, of the 
Metropolitan Telephone and Telegraph Com- 
pany; George Scott, the electrician ; ex-Judge 
Freeman J. Fithian; County Auditor Daniel 
Jackson; Adolph Hallgarten and E. W. Sapor- 
tas, bankers ; United States Marshall Henry E. 
Knox, David Richmond, N. G. Miller. J. N. 
Winslow and H. C. Valentine. The patent in 
this case was not obtained until after a serious 
contest lasting over a year, the application of 
Mr. Gore being opposed on the ground that 
the material used by him as an insulator had 
long been used as an indispensable article to 



suspended wires. But the patent was finally 
granted on the ground that this was the first 
use of material as an insulator. On this plan 
the ordinary copper wire used for telegraphic 
purposes is made into a cable of any desired 
thickness, and each wire is effectually separated 
from the others by being run through glass 
beads arrai^ed so closely together that the sag 
of the wires will not bring them into contact. 
They can be inclosed in a ordinary lead pipe, 
and laid with or without other cover or protec- 
tion. The expense is not over $30 per mile, 
while the cheapest submerged or undergrcund 
cable has cost $130 per mile. An inch lead 
pipe will contain a cable of 45 wires ; a 
two-inch pipe, 110 wires ; and so on in propor- 
tionately increasing ratio. Permission will be 
asked of the Police and Fire commissioiiers to 
lay the test wire by the side of the one they are 
now testing between their respective headquar- 
ters. .■ i.-r- ■■ ''''ii-r::^- '■ •■.-■:■.■:■■■;.-■•? •\.---:^ 



The Petroleum Market. 



The twenty oil producing districts enumer- 
ated in Stoweirs Pdroleuia Kejmrter, just re- 
ceived, show for January a total production of 
2,353,551 barrels, a daily average of very nearly 
76,000. The total stock approaches 27,000,000 
of barrels. The number of prodticing wells ia. 
over 18,000, with 200 new rigs building. The 
producing fields of Bradford report a decrease 
in the daily average of 5,000 barrels, and of 
Alleghany an increase of 1,300. The aggregate 
sales and resales at Pittsbui^h, Oil City and 
Bradford for the month of January were over 
fifty-one millions of barrels, of which the share 
of the Pittsburgh Exchange was over twelve 
millions. As regards the outlook, the paper 
referred to says : \:":-:'::-^'.'.'yr :''■■■:''::■ -::',. 

"The Bradford and Richburg fields are now 
defined beyond any reasonable doubt by a cor- 
don of ' dry holes.' All the present drilling 
in outlying localities, notwithstanding it has 
been very extensive, has entirely failed to indi- 
cate any new field in the producing horizon 
within the line of the known fields. Opera- 
tions continue to be active, but with all the ac-^ 
tivity in drilling, and with all the appliances 
of pumping and torpedoing, the figures for the 
month of January compared with those of De- 
cember show the significant decline in the 
daily production of four thousand and seventy- 
nine barrels. ;•; ;' ;^. . : • v .; . ; 

" The Richburg field exhibits all those charac- 
teristics of impoverishment of rock and un- 
certainty of yield which we attributed to it 
several months ago, and on this account its 
decline may be expected to be much #aore 
rapid than is that of the Bradford field. ^ 

"From all this condition which at present ex- 
ists in the region, we are of the opinion that 
the long-expected decline has at last set in,e^nd 
(always, of course, unless a new field is discov- 
ered) the production must from this time con- 
tinue to decline, in spite of the unrestricted 
energy of his restless producers to enlarge it. 

"The busy season of the year has been closed 
and we may reasonably look for diminished 
foreign demand for some months to come. 
The export for last year has been so far in ex- 
cess of its predecessors that we can hardly 



look for an increased demand for the present 
year. Then, too, our stock of crude oil has 
grown so large as at times to be rather burden- 
some. It will, therefore, be seen that there is 
considerable margin for a decline in the pro- 
duction, without materially affecting the price." 



The Coal Trade. 



The leading coal-carrjing companies make 
the following reports of their tonnage for the 
week ending Febr\\ary 11, and for the year to 
same date, compared with their respective 
amounts carried to the same time last year: 

• ■ :f- '-. J-.. V. .■;--.- 

Week 1882 1881 

Reading Railroad.. 92,731 1,464,(M)8 1,246,441*, 

Schuylkill Canal 27,656 

Lehigh VaUe y 58.997 1 ,092,825 933,.S66 

Delaware, Lackawanua and 

Western 63,691 406,668 412.532 

Shamokin 16,881 103.840 108,f)88 

Central R. R. of New Jersey.. 37.7«3 371,401 370,166 

United R. R. ot New Jersey.. 22,822 162.697 165.010 

Pennsylvania Coal 13,897 97,45« 103,9-.^6 

Delaware and Hudson Canal.. 43,006 326,642 344,921 
Huntingdon and Broad Top 

Mountain 12.742 70.839 49.8.56 

Penn. and New York 27,742 288,903 231.744 

Clearfield, Pa 40.«il 268,399 191,8'>4 

The total tonnage of anthracite coal from all 
the regions for the Woik ending February' 11, 
as reported by the several carrying companies, 
amounted to 323,383 tuns, against 533,943 tons 
in the corresponding week last 3'ear, a decrease 
of 210,560 tons. The total amount of anthra- 
cite mined for the year is 2,447,000 tons, against 
2,504,635 tons for the same period last year, a 
decrease of 57,6.35 tons. The quantity of bi- 
tuminous coal sent to market for the week 
amounted to 88,651 tons, f^vinst 70,430 tons 
in corresponding week last year, an increase 
of 18,221 tons. The total amount of bitumin- 
ous mined for the year is 484,666 tons, against 
365,526 tons for the corresponding period last 
year, an increase of 119,140 tons. The total 
tonn^^e of all kinds of coal for the week is 
412,034 tons, against 604,373 tons in corre- 
sponding week last year, a decrease of 192,339 
tons; and the total tonnage for the coal year is 
2,931,666 tons, against 2,870,161 tons to same 
date last year, an increase of 61,505 tons. The 
quantity of coal and coke carried over the 
Pennsylvania Railroad for the week ending Feb- 
ruary 11 was 198,374 ton.s, of which 138,276 
tons were coal and 60,098 tons coke. The total 
tonnage for the year thus far has been 1,215,425 
tons, of which 865,480 tons were coal and 349,- 
944 tons coke. These figures Embrace all the 
coal and?\;oke carried over the road east and 
west. The shipments of bituminous coal from 
the mines of the Cumberland coal region dur- 
ing the week ended Februarj' 11 were 41,064 
tons, and for the jear to that date 232, 146 tons, 
an increase of 88,207 tons as compared with the 
corresponding period of 1881. The coal was 
carried to tidewater as follows : Baltimore and 
Ohio Railroad —week, 34,072 tons ; year, 190,- 
937 tons ; increase compared with 1881, 67,220 
tons. There were no shipments by canal. 
Pennsylvania Railroad — week, 6,772 tons ; year, 
40,114 tons ; increase compare<i with 1881, 19,- 
891 tons. The Reading Railroad shipment for 
the week, ending February 18, was 116,000 
tons, of which 13,000 tons were sent to and 
13,500 tons shipped from Port Richmond, and 
13,270 tons sent to and 14,000 tons shipped from 
Elizabethport.— PAi/. Ledflfcr, Feb. 16. '?:->:V, ■: 



'"ffifflatr ' 



124 



1 



MERICAN RAILROAD JOURNAL. 



:>i- 



New York Stock Exchange. 

" (Thursday's quotations follow money article.) 
Closing Prices Jor the week ending Feb. 22. 

- Th.l6.P.17. Sat.i8,M.20,Tu.21.W.22. 

Adams Express 145 

Albany and Susq 130 130X 

Ist mortgage 

2d mortgage 

American Express.. 91 90 90 

Atlantic t Pac. Tel .J ...,. .i... 

Burl., C. R. i Nor 

Ist mortgage 5b.. 99 J^ 100 993i 

Canada Southern . . 50 '» SOJi 51 48 fi 47(4 

1st mortgage guar 94 94 93 

Central of N. Jersey 92 ^a 92 *i 95 U 95 >i 93 ^^ 

Ist mort. 1890 115 

7s, consol. ass - 

78, convertible ass 

78. Income 

Adjustment 107 IOC 105 104 105 >i 

Central Pacific 90?i 90?^ 91|i 90 »4 90 . ... 

68, gold 113% ..... 

Ist M. (San Joaq) 

IstM. (Cal. & Or.) 

Land grant 6s 

Chesapeake & Ohio. 22^ 23^ 22 >i 

lst,seriesB 80% 81 80fi 81 80% 

Chicago and Alton. 128 >i 129 ^'4 129 130 129 >i 

Preferred 

1st mortgage 

Sinking Fund 

Chi,. Bur. & Quincy 133>i 134 135 ,»^ 133% 133)^ 

7s, Consol. 1903 126^ • 

Chi., Mil. & St. Paul 108'^ 108 J^ lOm 108?^ 10T>i ..... 

Preferred 122 122 122>i 

Ist mortgage, 8s 132 >i 134 

2d mort., 7 3-108 

78, gold 125 >^ 

Ist M. (La. C. div) 118 117 117 

IstM.L &M.div.) 

Ist.M. (I. &D.ext.) 116 lloii 

IstM. (H.&D.div.) 115% 

' l«tM.(C. & M.div.) t 

Consolidated S. P 120 120 121 ..... 

Chi. & Northwestern 133?i 134 134'^ 133^ 131,^ ....,.' 

Preferred 142?^ 142,'i 142>i 140 .,.i. 

Ist mortgage i .^'. 

Sinking Fund 68 ,...!. 

Consolidated 7s 125 

Consol. Gold bo'ds 124)4 , 

Do. reg 

Chi., B. Isl. & Pac. 131 >i 132M 132«4 131% 

68,1917, 126 1^ 126% 126% 

CleT.,Col.,Cin.&Ind. 79 'i 77 >^ ..". 78 

1st mortgage 125 

Clev. & Pittsburg gr 132 

•78, Consolidated 125 >i 

4th mortgage 



11% 11 



10 



109 108% 108 V,' 



Col.,Chi.,&Ind.Cent. 10?i 11 

Ist mortgage 130 

2d mortgage 

Del. & Hud Canal. 107 107 

Reg. 78,1891 115 115 

. Beg. 78.1884 105% 

78, 1894 119 

Del.,Lack.& Western 125'4 124% 123?^ 124%' 12:^% 

2d naortgage 7s 

78, Consol. 1907 130 

Erie Railway 

1st mortgage 

2d mort. 58, ext 

3d mortgage 

4th mort. 5s, ext. 108 108 

5th mortgage 

78, Consol. gold.. 130 ...,|.... 

Great West. 1st mort 1*08 108% ..' ..... 

2d mortgage 103% 104 104 100 ... 

Hannibal* St. Jo.. 91 94 93% 93% 92%... 

Preferred 93 99 99% 99% 97 ... 

8«. Convertible ^ . 

Houston & Tex. Cen 78 75 ,V. 

1st mortgage .,.,.;..... ..^ 

2d mortgage '. 

Illinois Central... 131% 134 135% 134 132% ... 

LakeShore&MichSo 111% 111 111% 110 110% ... 

Consol. 78 

Consol. 7s, reg 

2d Consolidated 125% 

Leb. &W. B. 78, Con 

Long Dock bonds 

Louisville & Nash. 86% 86% 86% 80% 72%' ... 
78, Consolidated 1?1 '4 

Manhattan 57 57 56% 56',' 55%... 

1st pref 94 94 ... 

M^t. Elevated 86 87 87 87% 85%... 

Ist mortgage 100% 100% 100% 100% 100% ... 

Michigan Central.. 86 85% 86J4 88>i 81% ... 

78. 1902 126% 

Morris & Essex 122 122% ... 

Ist mortgage 

2d mortgage... . 

78 of 1871 123 

78, Oonvertibl* 

7a, ConaoliuAted j 



34.^ 34% 34 

73% 72% 72% 

32 30U 



N.Y.Cen. &Hud.R. 130% 130% 131*4 130% 129% 

6s. 8. F. 1883.. . 103 

68,S.F., 1887 

1st mortgage 

1st mortgage, reg 

N.Y. Elevated 107 105 

1st mortgage 

N. Y. & Harlem 

Preferred 

Ist mortgage 

1st mortgage, reg 

N. Y., Lake Erie &W 39>8 39',^ 39*4 38% 37% 

Preferred 76 77 76 74,% 

2d Consolidated. . 98,% 98% 98% 98 96 
New 2d 58 fund 94 

N.Y.,N.Hav'n&Hart 171 168 169% 170 

North Mo. Ist mort 119% 

Northern Pacific .. . 34 34?^ 
Preferred 73 73% 

Ohio* Mississippi. 31% 32 

Prelftred 

2d mortgage - 

Consolidated 79.. 118 

Consol. S. Fund 

Pacific Mails. 8. Co 41% 42% iny, 42% 41 

Pacific R. B. of Mo 

Ist mortgage 106% 106 

2d mortgage 110% 

Panama 

Phila. & Reading.. 61 >4 Sl% 61% 58% 57% 

Pitt8,Ft.W'.&Chi.gtd , 

Ist mortgage 

2d mortgage 

3d mortgage 132% , 

Pullman Palace Car 134 136 f34% 127 

Quicksil'r Min'g Co 12% 13 12% 

Preferred 60 

St. Louis & San Fran 39 38 J^ 37% 38% 38 

Preferred 51% 53% 53% 

l«t Preferred 90 90 89% 86 84 

St. L., Alfn & T. H. 33 32 31 

Preferred 82% 84 78 

1st mortgage 

2d mort. pref 105% 

Income bonds 

St. L., Iron Mt. &S 

1st mortgage. 115 

2d mortgage 108 107% 107 

Toledo and Wabash 

Ist mortgage 1 10 

2d mortgage .' , 

7s, Consolidated 100 , 

St. Louis Division 108 

Union Pacific 117% 117% 118 117 116% 

1st mortgage 116% 116% 116 '^ 115 

Land Grant 7s 116 116% ;.... 115% .... 

Sinking Fund 8s 

United States Ex... 76 74 75% 

Wabash, St. L.& Pac 32% 32 32% 31% 28 J, 

Preferred 59% 59% 60 Vj 58% 55 

New mort. 7s 

Wells-Fargo Ex 126 128 

Western Pacific b'ds 109% 

Western Union Tel. SO^g' 79% 79% 79% 78% 

7s..S.Fconv.,1900 118 118 

Fkdebal Stocks : — 

U. S. 4s, 1907, reg... 117% 118 117% 

U. 8. 4s, 1907, coup. 117% 117% 118 

U. S. 4^8, 1891, reg. 113% 113% 113% 

U.S.4%8, 1891, coup 

U. S. 5s, 1881, reg 

U.S. 5s, cont'd at3% 101% 101% 101% 

U. S. 6s cont'd at33i 

Dt. of Col. 3-658, reg 

Dt.ofCol.3-658,coup 106% 



Boston Stock Exchange. 

Prices for the Week Ending Feb. 21. 

Th.l6 F. 17.8at.l8.M.20.Tu.2l.W. 22. 

Atch.,Top.&San.Fe. 84% 35% 85 84% 84^.' 

1st mortgage 118 118 

2d mortgage 

Land Grant 78 115 114% 

Boston & Albany 167 

78 reg 127 

Boston and Lowell 101 100 100% 

Boston & Maine 146 146 

Boston* Providence 166 

Bos'n,Hart.&Erie7s 54% 56% 56% 55% 55% 

Burl.& Mo.R.L.G.78 

Burl.fc Mo.R.inNeb , 

6s, exempt 

48 



Chi.,Burl. & Quincy 134% 134 136% 134 133 
7s 



25% 23% 



Cin.,Sand&Clev($50) 24% 

Concord($50) 

Connecticut River 

Eastern 33 34% 35 33% 34% 

New 4% Bonds... 109 109 108% 

ntchburg 135 135% 135 



N.Y. & New England 51% 51% 53 52% 51 

78 116% 116% 116% 

Northern N.H 109 107 . .-. 

Norwich* Worcester 155 .... 

Ogden * Lake Cham 34 

Preferred 

Old Colony 125% 126 125% 126 125 

Ph.,Wil.&Balt.($50) 

Portl'd.Saco* Ports 

Pueblo & Ark Val 

78 114% ..._. 

Pullman Palace Car 136 135 

Union Pacific 118 116% 

6s .. 115% 114% 

Land Grant 7s 

Sinking Fund 88. 

Vermont * Canada 

Vermont & Mass 

Worcester & Nashua 59 

Cambridge (Horse) 120 120 

Metropolitan(Hor8e) 76 

Middlesex (Horse) 

Cal.&HeclaMin'gCo 231 231 231% 232% 

>^ 42% 43 43 43 

Philadelphia Stock Exchange. 

Closing Prices for the Week Ending Feb. 21. 

W.15.Th.l6.F.17. Sat.18. M.20 Tu.21 

AUegh'y Val. 7 3-108 121 

7s, Income 55% 65 65% 

Buff., Pitts & West. 18% 18 17% 11% 16 

Camd'n & Am. 68, '83 

68,1889 108 

Mort. 68, 1889 114 114 

Camden & Atlantic 35 

Preferred 39% 

let mortgage 118% 

2d mortgage 

Catawissa 17 17 

Preferred 55 55 

78, new 

Del. & Bound Brook 

78 



Quincy 41;^ 



125% 



Elmira&Williamsp't 
Preferred 



Hunt. & B. Top Mt, ..,-.-. 13 14 

• Preferred ......' 27 2«J% 

2d mortgage 

Lehigh Navigation. 4:^% 42% 43% 43% 43% 43% 

68,1884 105% 105% 

Gold Loan 111% 

Railroad Loan 

Conv. Gold Loan 

Consol. Mort, 78. 116% 116% 116% 

Lehigh Valley 82% 62% ' 62% 62% 

1st mort. 6s, coup • 123% 122% 

Ist mort. 68, reg 

2d mort. 78 

Consol mort. 6s 

Consol. mtg.68,reg 

Little- SchuylkiU 67 

Minehill&Sch.Hav'n 62 62 

North Pennsylvania 

1st mortgage 68 

2d mortgage 7s 

Genl. mtg.78,coup 

Genl. mtg. 78, reg 

Northern Central.. 50% 50 50 50% 50% 50% 
58 97% 

Northern Pacific... 35% 34% .34% 34% 34 34 

Preferred 72% 73 73 73% 72% 72% 

Pennsylvania R. B. 60% 60% 60% 61% 60% 60% 

Ist mortgage 

Gen'l mort 

Gen '1 mort reg 

Consol. mort. 6s 118 

Consol. mort. reg 

Pa.Stale 68 2d series 

do 3d series 

do 5s, new 

do 38 

Phila. * Reading. . . 30% 30% 30% 30% 29% 28% 

Ist mortgage 6s 

7s of 1893 

7s, new convert 73 

Consol. mort. 78 

Consol. mort. reg 

Gen'lmort. 6s 96% 96 96% 96 95 

Philadelphia * Erie 15% -15% 

Ist mortgage 58 

2d mortgage 78... 114 114 114 

Pitt8b.,Cin.&St.L.78 120 

Pitts.,Tit.&Buff. 78. 94 

Schuylkill Navi't'n 12% 

Preferred 13 12% 12% 

6s, 1872 107 107 

68,1882 

UnitedCo. ofN. J.. 186% 186% 186 

Hestonville, (Horse) 17 .... 

Chestnut* Wal. (do). .jiki.v-««44i> w>>. 90 

I'iroen & Coate8(do) ■••.^ 





AMERICAN RAILROAD JOURNAL 



125 



Baltimore Stock Exchange. 

'.; Closing Bricet for the Week Ending F^b. 21. *" ' 

W.15.Th.l6. F.17. Sat.l9. M.20.Tu.21 

Baltimore & Ohio.. 195 195 

68.1880 

68,1885 107 .'i .>.^., ..... 
Central Ohio (f 50) ..... *4 ..•.• 

Ist mortgage 110 ll">i 

Marietta & Cincin'ti ••••• 

Ist mortgage. 78 125 125 

2d mortgage, 78.. lOl^ii 104?^ 105 105\i ..... 105 

3d mortgage, 88.. 56?^ 55?^ 57 >i 673^ 58 56>j' 

Northern Cen. ($50) 50 50^ 50^ 57 

2d mort.. 68 1885.. 105 >i 106 

3d mort., 68, 1900 

68, 1900, gold 11* 11* 

6s, 1904, gold 

Orange & Alex. Ist 

2d mortgage, 6s 

3d mortgage, 88 

4th mortgage, Ss 

0.,Alex.&Mana8'8 78 

Pitt8.& Connellsv.78 122 

Virginia 68, Consol 63 62 613^ 61 >^ 61 >^ 

Consol. coupons 63 63^ 

10-40 bonds 40 *0 

Defd Certificates 

Western Maryland l^X 

l8tM.,end.byBalt 

2dM., do 116 120 

3dM., do 128 

l8tM..unendor8'd 

2dM.,end.WashCo 

2d M., preferred 

City Passenger R R 41J^ 



Iiondon Stock Exchange. • 



..'■',.?•-, ^ r;f.;>-^ '".w' -■■ Closing 

Jan. 27 

Baltimore k Ohio (sterling) 114 116 

Central of N. J„ $100 shares .... 93 98 

Do. consol. mort 114 116 

Do. Adjustment Bonds 104 109 

Do. Income Bonds 104 107 

Det.,G'd Haven & Mil. Equip bdsll2 114 
Do.Con.M.5p.c.,tiU'83aft'r6p.cll0 112 

niinois Central ?100 shares 136 J^ 137 >i 

Lehigh Valley Cons, mortgage.. 115 119 

Louisville k Nashville mort 68.105 107 

Do. Sink. Fund bds (S.&N.Ala)102 104 

Do. capital stock $100 shares. 97 99 

N. Y. Cent. & Hud. B. mt. bds. .134 137 

Do. $100 shares 1333i lU^ 

Do mort. bonds (stg.) 120 122 

N.Y.,Lake Erie & West., $100 she 40 J^ 41,'^ 
Do. 6 p. c. pref. $100 shares . . 82 84 
Do. Ist Con. Mort. bds (Erie) .131 13? 
Do. do. Funded Coupon bds. 127 129 
Do. 2d Consol Mort. bonds ... 101 . ia3 
Do. do. Funded Coupon bds. . 97 100 

Do. Gold Income bonds 93 95 

If.Y.,Pa.& Ohio Ist mort. bonds. 45 >^ 46'/i 
Do. Prior Lien bds (sterling) . .104 108 

Pennsylvania, $50 shares 62 63 

Do. Con. Sink Fund Mort. . . .117 120 
Philadelphia k Reading $50 shs 32'.; 32?^ 

General Consol Mortgage 116 118 

Do. Improvement Mortgage. .103 105 

Do.Gen.Mtg.'74,ex-dcf d coup.lOO 102 

Do. Scrip for the 6 def. ^ coup. 94 98 

Pittsb.,Ft.W. &Chi. Eq. bds.... 105 109 

St. L. Bridge 1st mort. gold b'd . 126 128 

Do. Ist pref. stock 95 98 

Union Pa. Land Grant Ist. mtg.117 119 

Wabash, St. L. k P. $100 shs 36 37 

Do. $100 pref. shares 68^^ 69?i 

Do. gen. mort. bonds 91 93 



Prices 

Feb. 3. 
114 117 



93 
115 
104 
104 
112 

no 

138 
115 
105 
102 
97 
134 



99 
116 
108 
107 
114 
112 
140 
119 
107 
104 

99 
137 



133 >^ 134 >i 

119 121 
40»i 4134 
80 82 

131 133 

127 129 

100 >i 101 >i 
97 100 
93 95 
44 >i 45 >^ 

104 108 
62^ 63>i 

116 118 
32 

115 

102 

100 
93 

105 

126 
95 

118 



32^ 
117 
104 
102 

97 
109 
128 

98 
118 

36H 37K 
68 >i 69 1^ 
87 89 



AMERICAN RAILROAD JOURNAL. 



Financial and Commercial Review. 



Thitrsday Evening, Feb. 23, 1882. 

In the money market this morning 5@,6 per 
cent was the quotation for call loans on stocks, 
and 2J@3i per cent on United States bonds. 
In the afternoon the stock brokers paid as high 
J of 1 per cent per day commission for loans in 
addition to 6 per cent. 

One of the prime drawers of sterling this 
morning marked posted rates up to 4.86J@4.- 
90J. All the other prime drawers had as their 
posted rates 4.85^@,90 ; the actual rates were 
4.84a@4.85J and 4.89.]@|, with cable transfers 
4.90^@|, and prime commercial bills 4.83@J. 
At the close the actual rates for prime bankers' 
Sterling were 4.84t@4.85 and 4.89|@4.89^. 
The actual rates for Continental bills are as 



foUows : francs, 5.13|@5.13f and 5.18a@5.20 ; 
marks, 94^@| and 95^@|, and guilders, 40 

@40|. -r^is\-/,.,v.v...,:e^-;;::-V ■ ^:-; •; ■' .:.:.-i ' ' 

The Virginia Debt Refunding bill, which 
recently passed the General Assembly of that 
State, has received the signature of the Grov- 
ernor, and is now a law. According to this bill 
the State of Virginia acknowledges two-thirds 
of the debt, and declares that West Virginia is 
responsible for the other one-third. It is 
understood that the holders of the bonds in 
question intend to contest in the courts the 
validity of this mode of settlement of the 
State debt, and that, with that end in view, 
Wm. L. Royall, formerly of Richmond and 
now of this city, has been employed by the 
English bondholders to institute the necessary 
legal proceedings. 

The recent act of the Legislature of Ten- 
nesee to settle the debt of that State at par and 
three per cent interest— the coupons receivable 
for taxes for 99 years— having been declared 
invalid and unconstitutional by the Supreme 
Court, application «\'as made by counsel for 
the funding board soliciting the Court to so 
modify the decree as to permit the issue of 
bonds without the tax coupon feature. This 
motion the Court also declined to allow. The 
case is thus finally disposed of, and the fund- 
ing of the State debt cannot be accomplished 
except by further Legislative action. 

At a special meeting of the stockholders of 
the National Car Company, held at St. Albans, 
Vt., on the 16th inst., it was unanimously 
voted to issue $1,000,000 of new stock and 
$800,000 of 6 per cent lO-year bonds. The 
stock and bonds are to be issued to stockhold- 
ers of the record of March 15, pro rata, at $75 
per share tor stock, (par value $100, ) and the 
bonds at par, but both to be taken if either. 
The proceeds are to be used in building 2,000 
new 34-foot 20-ton cars, which are needed by 
the new Canadian combinations forming a line 
to Ottawa, Georgian Bay, and the West, and 
also in erecting car-shops for the company, the 
location of the car-shops to be determined 
hereafter. "'^''^,;v '.■;;■.; »i-5.,. ;,. : .■-^.,:a :. :v ::";.; '■: t 

The American District Telegraph Company 
has notified the Stock Exchange of its intention 
to increase its capital stock from $2,000,000 to 
$3,000,000 and to change the par value of the 
stock from $25 to $100. ! 

According to the report of Joseph Nimmo, 
Jr., Chief of the Bureau of Statistics at Wash- 
ington, the total values of the exports of do- 
mestic breadstufiEs for the month of Januarj , 
1882, were $11,928,992, against $14,929,406 for 
the month of January, 1881 ; and for the seven 
months ending January 31, 1882, $124,072,907, 
against $168,509,508 for the corresponding 
period of the previous fiscal year. The total 
values of the exports of domestic provisions, 
tallow and dairy products for the month of 
January, 1882, were $13,199,531, and for the 
month of January, 1881, $15,218,282. The total 
values of the exports of provisions and tallow for 
the three months ended January 31, 1882, were 
$31,984,298, and for the same period in 1881, 
$38,551,058. The total value of the exports of 
dairy products during the nine months ended 
January 31, 1882, were $16,334,511, and during 
the same period in 1881, $21,108,156. v^.; •; 



Albany (N. Y.) county bonds, payable in 
1899 and bearing four per cent interest, were 
recently sold to the amount of $50,000, and 
brought 6 J per cent premium for $10,000 
worth, apd 6J per cent premium for the re- 
maining $40,000. Ulster county five percent 
funding bonds, to the amount of $100,000, were 
also sold for nu@112i: and $25,000 of King- 
ston city funding bonds, bearing four per cent 
interest, 104|@104f. ; -^ : .- * 

Twenty-three deeds were filed with the 
county clerk of Erie county, at Buflfalo, N. Y., 
on the 17th inst., conveying property valued at 
nearly $160,000 to the New York, West Shore 
and Buffalo Railroad Company. I ' r- : ' 

The report of the Northern Central Railway 
Company, prepared for presentation to the 
stockholders at their annual meeting held this 
day in Baltimore, shows that the revenue from 
the main line and leased and controlled roads 
for the j^ear ending December 31, 18H1, 
amounted to $5,443,700. The operating ex- 
penses were $3,787,445.91, leaving the net 
earnings $1,656,254.09, a decrease of $138,864.- 
75 as compared with 1880. Aft^r deducting 
interest, rentals and surplus from the opera- 
tion of the Elmira, Chemung and Canandaigua 
division, paid to the Pennsylvania Railroad 
Company, the amount carried to the credit of 
profit and loss, including the balance of the 
same account the previous year, was $305,696.- 
75. The tonnage of the main line increased 
271,352 tons. 

The foreign exports from Philadelphia dur- 
ing January were valued at $3,094,375, an in- 
crease of $807,787 over the total for the prev- 
ious Januarv. 

The deed of the Richmond and Danville 
Railroad Company to the C-entral Trust Com- 
pany of New York, conveying all its property 
to secure debenture bonds, issued to pay sub- 
scriptions to the Terminal Company's stock 
has been recorded in the clerk's office of the 
Chancery Court at Richmond, Va. It is for 
$4,000,000, and the tax thereon was $4,000. 

The Supreme Court of Tennessee has denied 
the motion of the State Funding Board, asking 
it to modify the injunction so as to permit the 
issue of bonds without the tax coupon feature. 
This ends the matter, and funding cannot be 
accomplished except through the passage of 
another bill by the Legislature. * 

According to the report of George M. Dallis 
Master, the cash receipts of the Philadelphia 
and Reading Railroad Company for November, 
1881 (including the balance from October, of 
$591,583.83), were $3,453,666.06, and the ex- 
penditures $2,776,538.89, leaving a balance of 
$677,127.17. For the month of December, the 
receipts of the Railroad Company (including 
the above balance from November) were $3,614,^; 
343.27, and the expenditures $3,138,469.55, 
leaving a balance of $475,873.72. The deferred 
income bond account showed a balance at the 
close of each month of $277,568.68. The total 
receipts of the Coal and Iron Co. for the month 
of November (including the balance of $99,«> 
798.31 from October) were $1,530,580.86, and 
the expenditures $1,514,534.60, leaving a bal- 
ance of $16,046.26. For the month of Decem- 
ber the receipts of the Coal and Iron Co. (in- 
cluding the above balance from November) 



126 



V. 



r^- 



a4.v-. 



AMEtllCAN RAILROAD JOURNAL. 



were $1,603,319.22, and the expenditures $1,- 
565,3(;8.11», leaving a balance of $37,951.03. 

From the report of the managers of the Le- 
high Coal and Navigation Co., for the year end- 
ing December 31, 1881, prepared for presenta- 
tion at the annual meeting of the stockholders 
to be held on the 28th inst., we learn Chat the 
total receipts from all sources were $1,875,592.- 
08, the disbursements $1,261,668.61, and the 
net earnings $613,923.47; less a sinking fund of 
10 cents per ton on 648,148 tons of coal, $64,- 
814.80, and depreciation on coal improvements, 
$65,332.85— leaving a surplus for the year of 
$483,775.82, which added to balance to credit 
of dividend fund December 31, 1880, $194,236.- 
38, giving a total of $678,012.20; from which 
deduct dividend of $1 per share on 206,567 
shares, paid Dec. 3, 1881, leaves the balance to 
credit of dividend fund December 31, 188 , 
$471,445.20. From this balance must be de- 
ducted whatever shall be paid to the State 
iinder the four-mill tax law for the years 1879, 
1880 and 1881. The amount for whiclj the 
company is held to be liable is $81,284.14, but 
it expects to be relieved from the payment of a 
considerable part of this sum. Comparing the 
receipts of the company for the year 1881 with 
those of the year 1880, shows an increase of 
$265,915.56, to which add $25,995.95, decrease 
in fixed charges, making the gain in net rev- 
enue $291,911.51. In resuming the payment 
of dividends, the Board deemed it wise to re- 
tain a strong reserve of net earnings, under 
the conviction that this policy, together ^with 
a gradually increasing stock basis, and steady 
reduction of the debt of the company, would 
establish the stock upon a secure foundation 
of productive value. The floating debt of the 
company, less cash assets, is about $700,000, 
agiiinst which the company holds $746,000 of 
its consolidated 7 per cent bonds, $306,000 
Delaware Division Canal Company bonds, and 
18,901 shares of its own stock. i i 

The closing quotations on Thursday were : 
Adams Express, 140@145; American Express, 
90@91 ; Chicago, Burlington and Quincy, 131^ 
@13U ; Canada Southern, 46@,46J; Chicago 
and Northwestern, 129i@129|;do. pref., 138|@ 
139; Chicago and Alton, 128i@129A; Central 
of New Jersey, 92^@92^; Central Pacific, 87f@ 
88; Chicago, Milwaukee and St. Paul, 107@ 
107| ; do. pref., — @122; Columbus, Chicago 
and Indiana Central, 10@10^ ; Delaware and 
Hudson Canal, 107^@108J ; Delaware, Lacka- 
wanna and Western, 122|@123| ; Hannibal and 
St. Joseph, 91J@92; do. pref., 93^@95J; Illi- 
nois Central, 132@132^; Lake Erie and West- 
ern, 27^@28J ; Lake Shore and Mich. Southern, 
108J®108|; Metropolitan Elevated, 85i@85i ; 
Manhattan Elevated, 52^@53 ; do. Mich. Cent., 
80@80»; New York Elevated, 103J@105^; N. Y. 
Lake Erie and Western, 35^@35J ; do. pref., 
— @73 \; New York Central and Hudson River, 
128|@129 ; Northern Pacific, 31i@31J ; do. 
pref., 68J(a);68| ; Ohio and .Mississippi, 28|@ 
29 J; Pacific Mail, 39|@39|; Texas and Pacific, 
37i@37| ; Union Pacific, 112^@112f ; United 
States Express, 73@,75; Western Union Tele- 
graph, 77^@77|; Wabash, St. Louis and Pacific , 
28@28J ; do. pref., 55J@55^ ; Wells-Fargo Ex- 
press, 124@126. 

The following quotations of sales of railway 



and other securities, for the week, are in addi- 
tion to those given elsewhere in our columns: 
New York. — Atchison, Colorado and Pacific 
Ist, 95 ; Boston and New York Air Line pref., 
68 ; Boston, Hartford and Erie 1st, 55; Chicago, 
Burlington and Quincy 8s, 103| ; Chicago and 
Northwestern 5s, S. F. 101; do. ext, 107 ; Chi- 
cago and Milwaukee 1st, 119 ; Chicago, St. 
Louis and New Orleans, 74 ; Chesapeake and 
Ohio 1st pref., 32}; do. 2d pref., 42-} ; do. cur. 
int., 47 ; do. pur. money fund., 114 ; do. 1st, 
Series A, 102 ; Chicago, St. Paul, Minneapolis 
and Omaha, 33f ; do. pref., 99 1 ; do. consol., 
100, Charlotte, Col. and Aug., 69 ; Cedar Falls 
and Minn., Ill ; Central Iowa 33i| ; Columbia 
and Greenville pref., 90 ; Cairo and Fulton 1st, 
106J ; Columbus, Chicago and Indiana Central 
Inc., 55\ ; do. 1st mort. Trust Co. certif. ass. 
sup., 119 ; Chicago, Milwaukee and St. Paul, 
La C. and Dav. div., 94 ; do. S. M. div., 103* ; 
do, Chicago and Pacific W. div., 1st, 108^ ; Cin., 
nati, Indianap., St. Louis and Chicago 1st, 
105i ; Chicago, St. Paul and Minneapolis 1st, 
lllj ; Denver and RioGraiide61|;do. 1st, I13A; 
do. 1st consol., lOli ; Dubuque and Sioux City, 
83 ; East Tennessee, Virginia and Georgia, 12 ; 
do. pref., 20| ; do. 1st, 115} ; do. 5s, 76.\ ; do. 
inc., 53A ; Gulf. Colorado and Santa Fe 1st, 
107 ; Green Bay, Winona and St. Peter, 12 ; 
do. 1st, 92 ; Houston and Texas Central 1st, 
Waco and Northwestern div.. Ill ; do. Western 
div., 107 ; Hudson River 2d S. F., Ill ; Indi- 
ana, Bloomington and Western, 40 ; do. 1st, 90 ; 
Indianlapolis, Decatur and Springfield pref., 40 ; 
do. 1st, 104 ; Illinois and Southern Iowa 1st, 
119 ; Kansas Pacific 1st consol., 102| ; do. 6s, 
Denver div. ass., 108 ; Lehigh and Wilkesbarre 
consol. ass., 106 ; do Inc., 92 ; Long Island, 
51§ ; do. 1st, 115 ; Lake Erie and Western, 29^ ; 
do. inc., 50| ; Louisville, New Albany and Chi- 
cago, 71 i ; Louisville and Nashville Gen'lmort., 
68, 96J ; Lafayette, Bloomington and Muncie 
1st, 103 ; Michigan Central 8s, 104 ; do. Equip. 
58, 104 ; Manhattan Beach, 30 ; Marietta and 
Cincinnati 2d pref., 8 ; Missouri, Kansas and 
Texas, 30|^ ; do. gen'l mort. 6s, 80 ; do. 7s, 
consol., 103 ; do. 2d, 66 ; Missouri Pacific, 97^ ; 
do. 3d, llOif ; Memphis and Charleston, 55i ; 
Milwaukee, Lake Shore and Western, 45^ ; do. 
1st, 100 ; Mobile and Ohio, 28 ; do. 1st deben., 
91 ; do. 2d deben., 60 ; do. Ist., 112 ; Metro- 
politan Elevated 2d, 91 ; Minneapolis and St. 
Louis 1st, Iowa Ext., 112 ; Nashville, Chatta- 
nooga and St. Louis, 70] ; do. 6s, 115 ; New 
York, Ontario and Western, 24} ; Norfolk and 
Westei-n pref., 47 ; do. Gen'l mort., 102^ ; North- 
ern Pacific 1st, 97 ; New Orleans Pacific 1st, 
87 ; New Y'ork, Central subscription 6s, 102] : 
Oregon Railway and Nav., 134 ; do. 1st, 106| ; 
Ohio Central, 19} ; do. inc., 38^ ; do. 1st, 96 ; 
Oregon Transp., 69 ; Ohio and Mississippi, 
Springfield div. 1st 121 ; Ohio Southern inc., 40; 
Peoria, Deciitur and Evansville, 27 1 ; do. inc., 
70 ; Rochester and Pittsburg. 29} ; do. inc., 
40 ; Richmond and Allegany, 25] ; do. 1st, 90 ; 
Richmond and Danville, 219^ ;do. W. P., 254^ ; 
do. 1st, 106 ; Rome, Watertown and Ogdens- 
burg, 20 ; St. Louis, Kansas City and North- 
em, Omaha div. 1st, 112 ; St. Paul, Minneapolis 
and Manitoba, 109| ; do. 2d, 105i ; St. Paul 
and Sioux City 1st, 112 ; St. Louis, Iron Moun- 
tain and Southern, 5s, 80 ; do. Cairo, Arkansas 



and Texas 1st, 106^ ; Southern Pacific of Cal- 
ifornia 1st, 104J ; Toledo Delphos and Burling- 
ton, 15 ; Texas and Pacific, 40^ ; do. inc. L. 
G., 63 J ; do. Rio Grande div. 1st, 80 J ; To- 
ledo, Peoria and Western Ist, 111 ; Wabash, 
St. Louis and Pacific Gen'l mort. 6s, 83 ; do. 
do. Chicago div., 85 ; Arkansas 7s, L. R., P., 
B. and N. O., 26 ; Alabama, Class A, 81^ ; Louis- 
iana 7s, consol., 66 ; Missouri 68, 1888, 111 ; 
Tennessee 6s, old, 51 ; do. new, 50 ; South Car- 
olina 1st, 99} ; Am. Dist. Tel., 50 ; Canton Co., 
64 ; Sutro Tunnel, | ; Colorado Coal and Iron, 
41} ; do. 6s, 85| ; Consol. Coal, 31 ; New Cen- 
tral Coal, 17 ; Central Mining, IJ ; Excelsior, 
IJ : Homestake, 19 ; Ontario, 35 ; Standard, 16}. 

Philadelphia. -Am. S. S. Co. 6s, 107 ; Central 
Transportation, 352 5 Chesapeake and Delaware 
Canal 6s, 89 ; Catawis.sa new pref., 54 ; Hunt- 
ingdon and Broad Top Mt. consol. 58, 88A ; 
Nesquehcning Valley, 57 ; New Orleans Pacific 
6s, 90 ; Philadelphia and Reading scrip, 81 ; 
do. consol. mort. 6s, gold, 113 ; Philadelphia, 
Wilmington and Baltimore 4s, 95 ; Pennsylva- 
nia Co. 4^8, 98 ; Schuylkill Nav. 68, 1895, 68 ; 
St. Paul and Duluth pref., 72 ; Texas and Pa- 
cific consol. mort. 68, 97 ; do. Rio Grande div. 
6s, 80 ; Warren and Franklin 7s, 111} ; West 
Chester and Philadelphia 7s, 119. The latest 
quotations are : City 6s, 108@118 ; do. free 
of tax, 125(^^^132 ; do. 4s, new, 102@113 ; Penn- 
s'^lvania State 6s, 3d series, 100@101 ; do. 5s, 
new loan. 116(^^17 ; do. 4s, old, 110@112 ; 
do. 4s, new, 114@.114J; Philadelphia and Read- 
lug R. R., 28^@28| ; do. consol. mort. 7s, reg., 
125@126i ; do. mort. 6s, 1170120 ; do. gen'l 
mort. 6s, coupon, 94i@95^; do. 7s, 1893, 120@ 
120J ; do. new, conv., 72|@73J ; United New 
Jersey R. R. and Canal, 186J@186| ; Buffalo, 
Pittsburg and Western, 15|@16 ; Pittsburg, 
Titusville and Buffalo 7s, 93@94 ; Camden and 
Amboy mort. Os, 1889, 113^@114 ; Pennsylvania 
R. R., 60^@60| ; do. general mort. 6s, coupon, 
123i@124] ; do. reg., 123i@124^ ; do. consol. 
mort. 68, reg., 117^@118^ ; Little Schuj'lkill R. 
R. 56]@57i ; Morris Canal, 65@69 ; do. pref., 
166]@169 ; Schuylkill Navigation, 5^(rtj6 ; do. 
pref., 12^@13 ; do. 6s, 1882, 91@93 ; do. 1872, 
107@108 ; Elmira and Williamsport pref., 58 
@65 ; do. 6s, 115@— ; do. 5s, 95@100 ; Lehigh 
Coal and Navigation, 42|@43i ; do. 6s, 1884, 
105}@106i ; do. R. R. loan, 116@118 ; do. Gold 
Loin, 111^@112 ; do. consol. 78, 116^(^117^ ; 
Northern Pacific, 33i@34 ; do. pref., 72^72} ; 
North I'ennsylvania, 63@65 ; do. 68, 105@106J ; 
do. 78, 119@120 ; do. General mort. 7s, reg., 
121@123i ; Philadelphia and Erie, 14@17 ; 
do. 7s, 114(^115 ; do. 5s, 105@106 ; MinehiU, 
62J@62^ ; Catawissa, 16@17i ; do. pref., 54@ 
55i ; do. new pref., 54@54^ ; do. 78, 1900, 116^ 
@— ; Lehigh Valley 62@62} ; do. 68, coupon, 
123@123^ ; do. reg., 123@123A ; do. 2d mort. 
7s, 134@— ;do. consol. mort. 120^@122 ; Fifth 
and Sixth streets (horse), 149J@150 ; Second 
and Third, 109@115 ; Thirteenth and Fifteenth, 
75@78 ; Spruce and Pine, 45@50 ; Green and 
Coates, 70@80 ; Chestnut and Walnut, 90@91 ; 
German town, 60@75 ; Union, 110@115 ; West 
Philadelphia, 100@110 ; People's 14@15 ; Con- 
tinental, 100@102. ^:-- ••.-;%.' ^;vl! 

Baltimore. — Atlanta and Charlotte, 78 J; do. 
1st, 109i; Baltimore City 6s. 1890, 116^; do. 5s, 
1894, 114^; do. 5s, 1916, 121^; Canton 6s, gold, 



4: 



•]■ 



^'Jp .V ^...JL»ifS'AijLA:JiJi-<^t:^r 



AMERICAN RAILROAD JOURNAL. 



127 



102; Columbia and Greenville, Isfc, 104 J; 
Northern Central 5s, 95^; Norfolk and Western 
pref., 55 J; Ohio and Mississippi, Springfield 
div. 121 ; Richmond and Alleghany, 26^ ; Vir- 
ginia and Tennessee Ss, 125; Virginia Midland, 
old, 130 ; do. 1st pref., 145; do. inc., 85; 1st 
mort., 113; do. 2d mort.. Ill; do. 4th mort., 
55; do 5th mort., 55; Virginia Peelers, 38|; 
do. coupons, 37. 

Boston.— Atl&ntic and Pacific 6s, 92; do. 
6s, inc., 22 J; Boston Land, 7| ; Boston, Clinton 
Fitchbui^ and New Bedford, 49; Chicago, Mil- 
waukee and St. Paul, Dubuque div. 68, 102; 
Connotton Valley, 15|; do. 78, 81; do. Straits- 
ville div. 7s, 70; Chicago, Burlington and 
Quincy 4s, Denver div. ext., 83|; Cincinnati, 
Sandusky and Cleveland 7s, 103i ; Connecticut 
and Passumpsic Rivers R. R., 92; Flint and 
Pere Marquette, 23; do. pref., 94; Fort Scott 
and Gulf Branch 78, 109; Iowa Falls and Sioux 
City, 80; Kansas City, Fort Scott and Gulf, 
120; Kansas City, St. Joseph and Council 
Bluffs 7s, 115; Louisiana and Missouri River, 
13; Little Rock and Fort Smith, 57; do. 7s, 
110^^; Marquette, Houghton and Ontonagon, 
68, 102J ; Massachusetts Central, 18f; Mexican 
Central 7s, 76; do. blocks, new, 88; Manches- 
ter and Lawrence, 166; Northern Pacific 6s, 
96|; New York and New England 6s, 106^; 
Ogdensburg and Lake Champlain consol 6s, 
98; Rutland, 3J ; do. pref., 24; do. 6s, 100^; 
Summit Branch, 12; Sonora, R. R. 25; do. 7s, 
84; Toledo, Delphos and Burlington, 7J; do. 
inc. 15^; do. S. E. div., inc., 18 J; Wisconsin 
Central, 17; Atlantic Mining, 13J; Allouez, 3; 
Brunswick Antimony, 14; Catalpa, 55c.; Frank- 
lin, 11 J^; Harshaw, 3; Huron, 2\; Napa consol, 
Quicksilver, 6J; National, 2 J; Osceola, 30; 
Pewabic, 12 A; Phcsnix, 3J; Ridge, 50c.; Silver 
Islet, 18; Sullivan, 2. 



How Skulls and Backbones are Built. 



Business of the Suez CanaL 



The year 1881 was the most prosperous that 
the Suez Canal Company has yet seen — the re- 
ceipts having been 51,080,3551, which is 11,- 
239,866f. in excess of the receipts for the year 
1880. The number of English vessels that 
passed through the canal was 2,256. France 
had 109 ships, Holland 70, Austria 65, Italy 51, 
Spain 46, Germany 40, Egypt 11, Turkey 11, 
Norway 10 and China 4. Ten years ago the 
amount of coal supplied at Port Said was 126,- 
600 tons ; last year it was 506,000 tons, or four 
times as much ; and while the British propor- 
tion of the tonnage in 1871 was 64 per cent of 
the total, last year it was 82. Of share prices 
some equally interesting figures are printed. 
With a nominal value of 500f . they had fallen, 
in 1863, to 220f. In 1869, the year the canal 
was opened, they rose to 663f. ; in 1880 they 
had reached 715f. and before the year closed 
had touched l,327f. They advanced to l,700f. 
in June of the following year, and between 
that month and January last went rapidly on 
to the highest point they ever reached— 3, 500f., 
to fall, ere the middle of the month came on, to 
2,100f. Last year the dividend paid on these 
shares was 9 per cent ; for the present year it 
will probably be 12, so that 2,100f., a point to 
which the shares were forced in a time of panic, 
even with dividends of 12 per cent, would still 
be far higher than the actual value of the 
shares. 



A LKCTUKE was recently delivered at Rollins 
Hall, Baltimore, by Prof. H. Newell Martin, of 
the biological department of the Johns Hop- 
kins University, for the benefit of the employes 
of the Baltimore and Ohio Railroad Company, 
under the title of " How Skulls and Backbones 
are Built." He compared a train of passenger 
cars, with the locomotive carrying, its passen- 
gers, to the skeleton of the body, carrying through 
the world the various important organs — the 
brain, stomach, eyes, &c. The locomotive rep- 
resents the muscles, and the cars the skeleton. 
The more important the organ, the more care- 
fully is it protected. The skull, protecting the 
brain, is the hardest part, and he said he had 
no doubt of the statement he had read in a 
newspaper of a woman falliLg sixty feet into a 
well and not bemg killed, because she fell on 
her head. He gave a clear description of the 
formation of the skull, of different bones dove- 
tailed and interlocked, comparing it to the 
dome of some grand mosqiie. He showed by 
projections on the screen various animals, crabs, 
terrapins — which he called favorite Maryland 
animals — the American eagle and others, illus- 
trating his remarks on . he skull and the back- 
bone. Prof. Martin was listened to with ap- 
preciation by the audience, who were instructed 
as well as entertained. Among those in attend- 
ance were President and Mrs. Garrett, Samuel 
Spencer, third vice-president of the company ; 
Andrew Anderson, assistant to the president ; 
John W. Davis, assistant to the first vice-presi- 
dent ; A. J. Fairbank, general agent ; A. B. 
Crane, private secretary to Mr. Garrett ; Col. J. 
Spear Nicholas, J. Howard McHenry ; A. J. 
Cromwell, assistant master of machinery ; Mr. 
Baldwin, foreman ; Mr. Hoskins; E. E. Shel- 
don, secretary of the Railroad Branch of the 
Young Men's Christian Association ; Prof. 
Sewell, of Johns Hopkins, and Messrs. Gra- 
ham and Matthews, of the city council. Pres- 
ider.t Garrett presented the lecturer at the open- 
ing and congratulated him at the close. 
^ i ' 

; . Railroads of Maine. 



During the year 1881 five new railroad cor- 
porations were oi^anized in the State of Maine, 
viz., the Old Orchard Junction Railroad, which 
runs along the beach a distance of 2^ miles ; 
the Bangor and Katahdin Iron Works Railroad, 
to extend from the Bangor and Piscataquis 
Railroad in the town of Milo, to the Katahdin 
Iron Works, 19 miles ; the Aroostook River 
Railroad, from Caribou to Presque Isle village, 
12i miles ; the Bridgton and Saco River Rail- 
road, from Bridgton Centre to a point on the 
line of the Portland and Ogdensburg in the 
town of Hiram, 15^ miles ; the Lewiston and 
Auburn Horse Railroad, through certain streets 
in those cities, a distance of track of about five 
miles. The report of the Railroad Commis- 
sioners, from which the above was obtained, 
says that the General Railroad Law, in its prac- 
tical workings, has been found defective in 
several respects. For instance, it says, the 
Bangor and Katahdin Iron Works Railroad was 
first organized for a narrow-gauge road; subse- 
quently the company decided to build to the 
standard gauge, but it was found there was no 



legal way to make the change except by com- 
mencing anew and organizing a second time, 
which was done. The law should be amended 
so as to provide for such cases as this. " We 
might indicate other amendments," say the 
Commissioners, " but as there will be no regu- 
lar session of the Legislature until 1883, we 
defer for the present from doing so." The 
Commissioners state that the roads are all in 
satisfactory condition. The total mileage is 
1181.4. e '^■-•'■"'- -•-■■-: -"^''~ ■' '-^ : '''"V^.- >-■•'. 



'The Almighty Dollar. 



" Brother Smith, what does this mean? ' 

" What does what mean?" 

" Bringing a nigger to this church.** 

" It is my own church." 

" Your own ? Is that any reason why you 
should insult the whole congregation ?" 

"But he is intelligent and well educated." 

" Who cares for that. He is a nigger." 

" But he is a friend of mine." 

" WTiat of that ! Must you, therefore, insult 
the whole congregation ?" 

" But he is a Christian, and belongs to the 
same denomination ?" 

*• What do I care for that ? Let him go and 
worship with his fellow-niggers," 

'♦ But he is worth $5,000,000." said the mer- 
chant." . . 

" Worth what ?" Z ^. V; ■ '' 

" Five million dollars." 

" Worth $5,000,000 ! Brother Smith, intro- 
duce me." ... 

It is a curious fact that one of the hardest 
things for a public man to do is to die just at 
the right time. This matter of opportune 
death is very greatly neglected by a large num- 
ber of persons who do not seem to know that 
it is just as necessary to choose a projier time 
to die— i. e., when one's popularity is at its 
height — as it is to choose the time in which to 
be born. When, for instance, a merchant has 
toiled successfully, neglecting every holiday, 
refusing all kinds of recreation, making him- 
self a perfect slave to his ambition to acquire 
a fortune, and so far neglecting the education 
of his sons that they find it utterly impossible 

to get on without spending vast sums of money, 
while at the same time they are conscious of a 
constitutional inability to make any for them- 
selves; we say that when a merchant has made 
just enough to supplj' the wants of his chil- 
dren without having any balance for him.self, 
it seems t<i be entirely in accordance with the 
imperative demands of American society that 
he shall indulge the "inspiration of removal." 
When, again, a politician has used the some- 
what doubtful machinery of his party to win a 
prominent position and the slender profits 
which generally attach to such a position in 
this country, and a sudden change of adminis- 
tration makes it necessary for him to earn an 
honest living— a hard contingency, for which 
neither nature nor inclinfttion have in any de- 
gree fitted him — it would seem perfectly' 
natural for him to step down and out. 
But men cling to life as tenaciously as a barna- 
cle to a ship. They are quietly laid aside, as 
much laid aside as though they occupied their 
compartment in the family vault, but still they 
persist in asserting that they are alive. They 
are not as honest as Chesterfield and his friend 
in their old age. Chesterfield said: "The 
fact is, Tyrawley and I have been dead these 
two years, but w« don't choose to have it 
known." ;.. ^"v :::^.y • v' /^ v' '- ^--^ '-•. . , o^' ■ 7-.. v ' 



a?,_ Vi";i,--' 



128 



t. 



AMERICAN RAILROAD JOURNAL. 



s 



statement of the Public Debt of the 
United States, February 1, 1882. 



DEBT BEABIMO INTEREST. 

. ^ Amount 

Outstanding. 
6 per rent loan. 1861-'81, 

continued at 3 '^ per ct. $81,624,200 00 
6 per cent loan 1H4)3-'81 

continued at 3 ^i per ct 47.855,700 00 
5 per cent funded loan of 

1881 401..503,900 00 

4)^ per cent funded loan 

of 1891 250.000.000 00 

4 oer cent funded loan of 

1907 738.788,750 00 

4 per cent refunding cer- 
tificates 559.100 00 

3 per cent navy pension 

fund U.(MK),000 00 



Accrued 


Interest. 


$238,070 58 


139,579 12 


3.513.145 47 


1.875,000 00 


2,462,629 00 


1.863 67 


3.'>,t)00 00 



i 



RECAPITULATION. 

Amount 
Outstanding. 



Interest. 



Debt bearing interest in 
coin, viz : 

Bonds at 6 per cent., con- 
tinued at S'i per cent. 

Bonds at 5 per cent, con- 
tinued at 3>£ per cent. 

Bonds at 4 'i per cent 

Bonds at 4 per cent 738.788,700 00 

Refunding certificates... 579,100 00 

Navy pension fund, 3 p.c 14,000,000 00 



$129,479,900 00 

401,503,900 00 
250,000,000 00 



$1,534,331,600 00 $10,218,348 15 
Debt on which interest has 
ceased since maturity. 13,920,005 26 662,949 73 



1,104 91 
1,2.t0 00 

3,275 00 

20,000 00 

8.(KJ0 00 

10,000 00 

370.700 00 

58,650 00 



85 74 
22 00 

213 06 
2,945 00 

(MX) 00 
8,439 82 

170 95 



76,75b 00 18.895 79 
472.400 00 110.073 76 
407.800,00 15,650 92 



23,759 12 
5,430 00 

70,653 12 
6,202 60 



1>9,150 00 
914,850 00 



36,077 60 



Aggregate of debt bear- 
ing interest $1,534,331,600 00 $8.265,'287 84 

Interest due and unpaid 1,953,060 31 

DEBT ON WHICH rNTEREST HAS CEASED SINCE MATURITY 

Amount Interest due 
Outstanding. & unpaid. 

4 to 6 per cent, old debt. mn. $57,665 00 $64,1'H 81 
6 per cent. Mexican indem- 
nity stock, 1846 

6 per cent, bonds, 1847 

6 per cent, bounty land scrip, 
1847 

5 per cent. Texas indemnity 
bonds. 1850 

5 per cent, bonds, of 1858 

6 per cent, bonds, of 1860 

6 per cent. 5-20 bonds, 1862, 

called 

6 per cent. 5-20 bonds, June, 

1864, called 

6 per cent. 5-20 bonds, 1865, 

called 

5 i)er cent. 10-40 bonds, 1864. 
called 

6 i>er -ent. C'onsol. bonds, 

1865. called 

6 per cent. Consol. bonds, 

1867. calle<l 1.097.550 00 204.112 15 

per cent. Consol. bonds, 

1868, called •298,950 00 

6 per cent, loan, Feb. 8, 1861, 

matured Dec. 31, 1880 100,000 00 

per cent, funded loan 1881, 

^lled 2.742,200 00 

Oregon War Debt, March 2, 

1881, raaturtd July 1, 1881. 
6 per cent loan of July 17 and 

Aug. 5, 1861. matured June 

»), 1881 

6 per cent loan of July 17 apd 

Aug., 5 1861, continued at 

3Ji per cent, matured Dec. 

24. 1H81, aud Jan. 29, 1882, 

called 

6 per cent, loan of March 3, 

1863,mature(l June 30, 1881. 
1-10 to 6 per cent. Treasui-y 

notes, prior to 1846 

1-10 to 6 per cent. Treasury 

notes, 1846 

6 per ct. Treat»ury notes, 1847. 

3 to 6 per cent. Treasury 
notes, 18.57 

6 per ct. Treasury note8,1861 . 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1861 

5 per cent. 1 year note8,lK6;i.. 

6 per cent. 2 year notes, 1863. 

6 per ct. compound interest 
notes. 186:m;4 

7 3-10 per cent. 3 years' Treas- 
ury notes, 1864-65 

6per cent, certificates of in- 
debtedness, lH62-6;i 

4 to 6 per cent, temporary 

loan, 1864 

per cent, certificates, called. 

Aggregated of debt on which 
Interest has ceased since 
maturity $13,920,005 26 $662,949 73 

DEBT BEARING NO INTEREST. ^ 

Demand notes, 1861-62 $59,890 00 

Legal tender notes, 1862-63. ... 346,681,016 00 

Certificates of Deposit 11,400,000 00 

Coin certificates, 1863 6,188.120 00 

Silver certificates, 1878 68,999,670 00 

Unclaimed interest 

"Fractional currency, 1862. ; , 

1863 and 1H64 $15,445,427 67 
Less amount es- "/ 

limated as lost 

or destroyed, :..' 

act of June, •.•":;:■ 

21,1879 8.375,934 00 

"7 069,493 67 



6.316,150 00 


'29,530 06 


2«'.8,65(J (X) 


7,093 50 


82.525 35 


2,668 06 


6.000 00 
950 00 


206 00 
67 00 


1,700 00 
3,000 00 


99 00 
364 60 


16.300 00 
43.085 00 
34.200 00 


1,104 43 
2,166 35 
1.729 80 


224,290 00 


45,779 89 


140,900 00 


4,752 92 


4,000 00 


253 48 


2,960 00 
5,000 00 


244 19 
394 31 



7.'256 51 



Asffregate of debt bearing no 
tat«rMt 1439.398,189 67 $7,266 51 



Debt bearing no int., viz: 
Old demand and legal- 
tender notes $346,740,906 00 

Certificates of deiKwit 1 1,400,000 00 

Coin & silver certificates. 74,187,790 00 

Fractional currency 7,069,493 67 

. i .: :-:-h ;- 

Unclaimed interest . . . 



$439,398,189 67 



7,256 61 



$1,987,649,794 93 $10,888,554 39 

Total debt, principal and interest to date, 
including interest due and unpaid. . . 11,998,638,349 32 

AMOUNT IN TREASURY. 



Interest due and unpaid 

Debt on which interest has ceased 

Interest thereon 

Gold and silver certificates 

U. S. notes held for redemption of cer- 
tificates of deposit 

Cash balance available February 1, 1882. 



$1,953,060 31 

13,920,005 -26 

662,949 73 

74,187,790 00 

11.400,000 00 
143,901,663 29 



$246,025,468.59 
Debt, less amt in Treas'y Feb. 1, 1882. . .$1,765,491,717 09 
Debt, less amt in Treasury Feb. 1. 1882. . 1.752,512,880 73 



Decrease of debt during the month $12 978,836 36 



Decrease of debt since June 30. 1881 . 



$88,085,931 25 



^f: 



BONDS ISSUED TO THE PACIFIC RAILROAD COMPANIES, IN- 
TEREST PAYABLE IN LAWFUL MONEY. 

Accrued- 
Interests 
not paid. 
$129,425 60 
31,516 00 
136 182 56 



Central Pacific bonds, 
Kansas Pacific bonds. 
Union Pacific bonds. 
Cent. Branch Union 

bonds, 1862-64 

West'n Pacific Bonds. 
Sioux City & Pacific 

1862-64 



• . Amount 
Outstanding. 
1862-64$25,885,120 00 
1862-(>4 6,303,tX)0 00 
27,236,512 00 



1862-64 
Pacific 



1862.64 
bonds. 



1,600,000 00 
1,970,560 00 

1,628,320 00 



8,000 00 
9,852 80 

8,141 60 



Totals $64,623,512 00 $325,117 66 

Interest paid by the United States, $.53,405,977 38; in- 
terest repaid by transportation of mails, &c., $14,804,- 
021,94; interest repaid by cash payments : 5 per cent, 
net earnings, $655,198.87: balance of interest paid by 
United States, $37,946,756.57. 

The foregoing is a correct statement of the public 
debt, as appears from the books and Treasurer's returns 
in the Department at the close of business, January 
31, 1882. Charles J. Folger, 

*' Secretary of the Treasury. 



Montreal and Sorel Railway. 



The completidn of this road has been con- 
siderably delayed notwithstanding the deter- 
mined efforts of the company to have the road 
in running order at the opening of navigation. 
Some of the owners of the land through which 
the line has been laid out, caused considerable 
delay, as well as the contractors, who one after 
another suspended operations after working 
for some time. The company have finally set- 
tled the difficulty by taking the completion of 
the road into their own hands, and with this 
object in view a renewed effort has been made 
during the past few days to put the work 
through without further delay. A new station 
is in course of erection at Longrieuil, and an- 
other is to be commenced at St. Lambert next 
week, where an engine house is already ap- 
proaching completion. The coal which was 
purchased by this company last fall when it 
was cheap, and stored at St. Lambert, is being 
sought for by manufacturers now that the 
price has gone up to nearly double the amount 



that was paid for it. The company decline to 
sell as they will require it all, now that their 
rolling-stock is in motion again conveying lum- 
ber and other railway supplies to given points 
along the line, but they have loaned some on 
advantageous terms. — Montreal Witness. 



I 



Mississippi Railroad Commissiom. 



Mississippi is the last State to come to the 
front with a railway regulation law, a bill 
having passed the Legislature establishing a 
railroad commission composed of three mem- 
bers appointed by the Governor and holding 
office for six vears. This commission is em- 
powered to fix a maximum schedule of rates 
for freight and passengers on all railways 
within the State. It also compels the railways 
to make improvements 'deemed necessary by 
the commissioners for the convenience and 
security of the public. It can investigate the 
books and papers of all railways, can examine 
all railway agents and employes, and a fine not 
exceeding $5,000 and imprisonment not exceed- 
ing six months are imposed on any railway 
employe who violates the provisions of the act 
or refu-es to obey the orders of the commis- 
sion. In fact the commissioners are clothed 
with inquisitorial powers almost without limit ; 
and the act is condemned by the Vicksburg 
lleraki, which has an idea that the raging 
desire of some for positions as commissioners 
' ' is greater than the desire of the people for a 
railroad commission." • • : y^^ . j. " ' - 

Railw^ays, etc. in British Columbia. ^ 



A coERESPONDENT of the Montreal Witness, 
writing from New Westminster, British Co- 
lumbia, says : 

"Having been in this country from February 
1859 to August 1866, ^nd now again for nearly 
two years, I can speak comj^aratively, and may 
say that the summers seem to give more rain 
than formerly and the winteT.s more frost— at 
least in New Westmiilster. Still, we have, up- 
on the whole, a good, healthy, invigorating 
climate. Our people generally thrive well. 
Materially the country is progressing. The 
lumbering, farming and fishing industries are 
being pushed forward, while coal mining is 
a very flourishing enterprise. Gold mining has 
declined somewhat, but still pays well in cer- 
tain localities! The progress of railway con- 
struction on the Onderdonk contract gives a 
fixed standard for labor and fixed prices for 
produce. In more respects than one railways 

are levellers. Should the western link of the^ 
railway from Emory to Coal Harbor be placed" 
under contract within the present or next year, 
our farmers will be greatly benefited by having 
at hand a ready market for certain kinds of 
produce for some years to come at any rate. 
There is some probability of the railway from 
Nanaimo to Esquimalt, known as the Island 
Railway, being built in a few years. This 
would benefit the islanders very much. Victo- 
ria, Nanaimo and New Westminster are now 
substantial towns, each backed up by farming 
district, of some importance." 



<i^ 



c;.<iy, 1. ■ 



'* Mother," remarked a Duluth girl, " I think 
HaiTy must be going to propose to me." " Why 
so, my daughter ?" queried the old lady, laying 
down her spectacles, while her face beamed 
like a moon on its fourteenth night. " Well, 
he asked me this evening if I wasn't tired liv- 
ing with such a menagerie as you and dad." 



f-r::.\.:-f,^: 



jjji III iiij«p*«iipiiipqF 



AMERICAN RAILROAD JOURNAL. 



129 



North Carolina Manufactures. 



The energy and shrewdness of the people 
of North Carolina are evidenced in the great 
number of small mills that have been built since 
the war. More than eighty cotton factories, great 
and small, are now running, all of which, with 
a solitary exception, are owned by small share- 
holders living in their immediate neighbor- 
hood. In other words, the profits of the cot- 
ton patchers are •invested in mills, that the 
planter may make additional gains by convert- 
ing his staple into yarn. Without an excep- 
tion these mills have prospered, and many new 
ones are now building. For these the many 
rivers flowing from the mountains to the sea 
furnish an unlimited supply of water-power. 
Among the textiles exhibited by North Carolina 
at Atlanta were some fine blankets made in 
Surry county. These mills find a home market 
for their entire production, and have never 
been fully able to supply the demand. Their 
wool is brought to their doors by the farmers 
of the county, but they have not sufficient cap- 
ital to take all that is offered. The fleeces are 
from Merinos and Southdowns, both of which 

breeds of sheep do well everywhere in the State. 

^ 

A Characteristic of American Iiife. 



ress has been made on the eastern section, 
commencing at Callander Station, and the vig- 
orous prosecution of the work on that portion 
of the line during the present year provided 
for. In British Columbia the work upon the 
section between Savonas Ferry and Emory's 
Bar is being carried on with every prospect of 
its completion within the time specified in the 
contract, and the line from the latter place to 
Port Moody, which was carefully located during 
the past season, is being placed under contract, 
with a view to its completion at the same date 
as the section from Savonas Ferry to Emory's 
Bar. Upon the sections to be constructed by 
the railway company the work has been most 
energetically carried forward. During the past 
summer the road has been graded for the dis- 
tance of two hundred and eighteen miles, and 
of this one hundred and sixty-one miles are 
open for traffic. The company have in addi- 
tion graded eighty-nine miles of branch lines. 



pany's books. When Spalding discovered this 
transaction he brought his suit to have the sale 
of the stock set aside and his lien on the 180 
shares enforced. A demurrer was filed to the 
petition, and the Judge sustained it, holding 
that Payne, who was an innocent purchaser, 
was not affected by the previous mortgage. 
The Chancellor alluded to the fact that a vast 
deal of the business now transacted with banks 

is done by the depositing of stocks and bonds 
as collateral, and if everv' time a man went to a 
bank with securities of this kind the bank offi- 
ficers had to stop until they nuvde an examina- 
tion of his title such transactions would be re- 
tarded and "business stopped. 



American Cars in England. 



In the summer of 1836 a barefooted "boy was 
on his way to Honesdale, Pa., walking the tow- 
path of the Delaware and Hudson Canal. When 
four miles from Port Jervis, and still forty 
miles from his destination, he was overtaken 
by a canal-boat. He was asked to jump aboard 
the boat and ride, which he did. On the boat 
was a Scotch family, just landed in America, 
who were on their way to the Pennsylvania 
coal fields. One of its members was a boy the 
same age of the young pedestrian, eleven years. 
A strong friendship grew up between the two 
boys by the time they reached Honesdale. The 
Scotch family went on to Carbondale, the cen- 
ter of the Lackawanna coal field. The boy who 
had been given the ride in the boat obtained 
employment on the canal. His friend, the 
Scotch boy, worked in the mines for a short 
time as mule boy. Both he and the former 
barefoot. boy rose in the Company's service. 
The Scotch boy of forty-six years ago is Thomas 
Dickson, President of the Delaware and Hud- 
son Canal Company. His friend, the other 
boy, is Col. F. Young, General Manager of the 
Company, and President of its Albany and 
Susquehanna Railroad system.— 8(m, 
-^ 

: -Canadian Pacific Railway. 1 

The Governor-General of Canada, in his 
speech at the recent opening of the Dominion 
Parliament, said that the work of construction 
on that portion of the Canadian Pacific Rail- 
way between Prince Arthur's Landing and Win- 
nipeg is being pressed to completion, and it is 
confidently expected that in July next railway 
communication will be established between 
those places. The section between Rat Port- 
age and Winnipeg, one hundred and thirty- 
five miles in length, has been completed and 
transferred under the terms of the contract to 
the Canadian Pacific Railway Company, by 
whom it is now operated. Considerable prog- 



It is really becoming a serious question 
whether public safety will not render it neces- 
sary for us to adopt the long American railroad 
carriages. Now that the facility of committing 
theft or murder upon isolated passengers has 
been brought home to the criminal classes, 
railroad crimes seem to be on the increase. 
Everj' one who gets into an empty carriage 
does so at the risk of a man following him and 
cutting his throat. The appliances for stopping 
the train in case of assault are absolutely use- 
less, unless the criminal be an utter fool, for 
he could easily plan his attack in a manner to 
hinder his victim from toiiching the signal. A 
murderer might in nine cases out of ten escape 
by jumping out of the carriage when the train 
is slacking speed. If Lefroy had done this, I 
doubt whether Mr. Gold's murderer would ever 
have been discovered. Only a few days ago I 
was in a railway carriage ; opposite me was a 
gentleman, and the other seats were untenan- 
ted. We sat watching each other the whole 
way. I thought my vis-a-vis had a bad counte- 
nance ; and he, I suppose, thought the same of 
me. Whenever he felt in his pocket for his 
handkerchief, I made ready to throttle him. — 
Lomlon Truth. 



>■ 



Mortgaged Stock. 



A DECISION of great importance to business 
men and of interest to the general public was 
recently rendered at Louisville, Ky., by Chan- 
cellor Edwards, who wrote a long and carefully 
prepared opinion sustaining his view. The 
suit, as stated by the "Louisville Courier Jour- 
nal, " was brought by Samuel Spalding against 
E. H. Payne and E. P. Fontaine. Fontaine 
owned a large majority of the stock of the Louis- 
ville Transfer Company, and executed a mort- 
gage to Spalding, his father-in-law, on 180 
shares, to secure a debt of $4,200. The mort- 
gage was recorded, but no transfer of the stock 
was made on the books of the corporation to 
Spalding, and Fontaine retained the certificates 
in his possession. Afterward Fontaine sold 
the stock to Payne, who had no knowledge of 
the mortgage. Payne took the certificates and 
had the stock transferred to him on the Com- 



How much a man is like old shoes t- 

For instance, both a soiil may lose : 
Both have been tanned, both are made tight 

By cobblers. Both get left and right ^ 
Both need a mate to be complete, 

And both are made to go on feet. 
They both need healing ; oft are sold, 

And both in time turn all to mold. 
With shoes the last is first : with men 

The first shall be the la.st ; and when 
The shoes wear out they're mended new. 

And when men wear out they're men dead, too 
They both are trod upon, and both 

Will tread on others, nothing loath, j 
Both have their ties, and l>oth incline : 

When polished, in the world to shine 
And both peg out — and would you chooee . ' , 1 

To be a man or be his shoes ? 1 . . j . 

Stamping Out Old Zach. — The five-cent 
stamp which is in common use for ocean jxist- 
age bears at present the effigA' of President 
Zachary Taylor. It is a good portrait of a .stur- 
dy patriot, whose memory is dear to the Amer- 
ican people. Now it is announced that the 
Postmaster-General proposes to abolish this 
effig}'^ and substitute one of President Garfield, i 
Of course it is appropriate to Keek opportuni- 
ties for official honors to President Garfield's 
memorj' ; but why take occasion to pay such 
honors at another hero's expense ? Why stamp 
out " Old Zach"? The Postmaster-General's 
obliteration of President Taylor's effigy- strikes 
us as a hasty act of bad taste, and we do not 
believe that any friend, of President Garfield 
deliberately approves it. 



In excavating for the new Produce Exchange 
building in this city many relics have been un- ; • 
earthed which, it is thought, have been buried 
ever since the demolition of old Fort (reoi^e '■■ 
on Bowling Green. Recently a six-pound 
solid shot, with the old English broad arrow . 
cast in it, in a good state of r reservation, was J- 
dug up on the Beaver street side, and also a 
twelve-pound solid shot, badly corroded. Both { 
were exhibited in the Produce Exchange. A ' 
small keg, with about a shovelful of English , 
half -pennies, bearing dates from 1738 to 1745 
inclusive, was also found. The coins are in a ■ 
good state of preservation. - ,'1 •■ J '■ 



An acquaintance from the country, having 
visited some friends, and being about to depart, 
presented a little boy— one of the family — with 
half a dollar, in the presence of his mother. 
"Please, is it a good one?" asked the little 
fellow. " Of course it is," replied the gentleman, 
surprised. " Why do j'ou ask ?" " Because I'd 
rather have a bad one, and then they'll let me 
keep it. If I get any good money it goes into 
the bank, and I never get it f^ain.", 



rsSti?* 



■■..■5.V ■ CiidSt, J i. 



130 



AMERICAN RAILROAD JOURNAL 



New York. Jan. 30, 1882. 

THE THIRTY-NINTH SEMI-ANNUAL CASH Divi- 
dend of the ILLINOIS CENTRAL RAILROAD 
COMPANY, being three and a half {-i^i) per cent on its 
capital 8tock, will be paid by the undersigned March 1, 
188'2, to shareholders aa registered at the close of busi- 
ness on the 11th of February, after which and until the 
•tth day of March the transfer-books will be closed. 

L. V. F. RANDOLPH Treasurer. 



R E 



THE PERFECTED 

I N G T O N 



PATENTS. 



American and Foreign Patents procured at a moderate 
cost. Patent and Trademark suits a specialty. Send 
for information. 

EVAN P. CEORCE, JR., 

COUNSELLOR AT LAW AND SOLICITOR OF PATENTS. 
4 & 6 Warren St., N. Y. 



FOR SALEJ 




Six new 3ft. Gauge Locomotives. 18 to 24 tons, June, 

July and August delivery. 
Ten new 4ft. 8 'jin. or 5ft. Gauge Locomotives, June, 

July, and August delivery. 
Two new Ladder Tank Locomotives, 3ft. Gauge, 10 tons, i 

May and June delivery. ' 

Second-hand Standard Gauge Lo<-omotives and PaE- { 

senger Cars, immediate delivery. 
New Box, Flat, and Gondola Cars, 4ft. 8'$in. and 3ft. j 

Gauge, for immediate delivery. 
New Pattsenger and Combination Cars, It. Gauge, de- 
livery 30 da vs. 
New Passenger and Combination Cars 4ft. 8iiin. Gauge, 

delivery 60 days. 
New Car Wheels, Iron and Steel Rails. 
Narrow-Gauge Rolling stock a specialty. 

BARROWS & CO., 

S4 Broetd-way, 

NEW YORK. 



TYPE-WRITER. 

1 "WBITING - MACHINE which combii 
itfe with rapidity and accuracy, 
and economy with elegance . 
and convenience. 
Adapted to general use. Every machi ■»• 
• i i ■ t " gu^a-ranteed. 

Send for Circulars with names and testimonials 
recent patrons. 

E. BEMKTON & SONS, 

281 and 283 Broadway, New York, 
38 Madison Street, Chi'cag^o. 
124 South 7th Street, Philadelphia. 
91 South Howard St., Baltimore. 

I . ' [Mention this paper.] 

D. N. BEARDSLEY & CO., 

" ^ I MANUFACTURERS OF 

Superior Oak and Chestnut Lumber, 

AND RAILROAD TIES. 

Ost:^ Oax T'iiara.Toer a Specisulty. 

OFFICE : 9 MURRAY ST., 

NEW YORK. 



HOME I 

INSURANCE COMPANY OF 



EW YORK, 



OFFICE:' NO. 1 19 BROADWAY. 



FIFTY-SEVENTH SEMUANWUAL STATEMENT, 
StLOWlng Oon-ciition of* tli© Oomp)a.ny on tine 1st dety of 



CASH CAPITAL. 

Reserve for Unpaid I^remiums 
Reserve for Unpaid Losses . . . . 
Net Surplus 



.f3,000,0(X» 00 

. 1,943,733 00 

245,595 m 

. 1,8U6,180 90 



Summary of Assets 

Held iu the United States available for the PAYMENT 

of LOSSES by FIRE, and for the protection of Policy 

Holders of FIRE INSURANCE. 

"ash in Banks $ 130,172 31 

CASH ASSETS |6,995,509 26 Bonds and Mortgages, being lirst lien on 

Real Estate [worth $3,600,750] 1 ,.555,858 00 

United States Stocks [market value] 4,079,500 00 

. ' Bank and Railroad Stocks and Bonds [mar- 

: - I ket value 664,625 00 

I State and Municipal Bonds [market value]. 121,750 00 
I Loans on Stocks, payable on demand [mar- 

i ket value of Collaterals, J341,507.50 229,750 00 

Interest due on Ist January, 1882 85,819 19 

Premiums uncollected and in hands of 

i Agents..... 80,635 08 

«|fReal£8Ute 47,399 68 






TQUll.i.. $6,996,609 26 



'1 



J. H. WASHBURN, Secretary. 
T. B. GREENE, 



W. H. BIGELOW, 



Ass't Sec* 8. 



CHAS. J. MARTIN, President. 

A. F. WILMARTH, Vice-Pres't. 

D. A .HEALD, 2d Vice-PresX 



Interest allowed on Deposits subject 
to Draft. Securities, &c., bought and 
sold on Commission. 

^^ ^ lnvestinent*Securiiies always on hand. ! ' 



ALOJNZO FOLLETT, 



. Negotiator of prime Commer- 
cial paper at Low Rates. Does 
not solicit and will not take 
hold of any but concerns whose 
paper is A L ^ * ' ^ 

Paine, Webber & Co., 

Bankers and Brokers,' '^ 'i; 

No. 53 Devonshire Street, Boston./; - 
{Members of the Botton Stock Exchange.) 



Devote special attention to the purchase and sale of 
Stocks and Bonds in the Boston market, the careful se- 
lection of securities for investment, and the negotiation 
of commercial paper. 

Wm. a. Paine. Wallace Q. Webbeb. C. H. Paine. 

John H. Davis & Co., 

"■■■''- BANKERS AND BROKERS, 

Wo. 11 Wall St., New Vork. 

In erest allowed on temporary and standing deposits, 
f tocjis and Bonds bought and sold on Commission only, 
'-ither on Margin or for Investment. 

Brown, Brothers & Co.| 

No. 59 Wau Stikt, New Ton, ': 

— BUT AND SELL — ■■•^■• 

— ON — 

GREAT BRITAIN, IRELAND, FRANCE. GERMANY, 
BELGIUM, AND HOLLAND. -1 

Issue Commercial and Travelers' Credits in Sterling, • ' 

AVAILABLE IN ANY PART OF THE WORLD, AND IN 
FRANCS IN MARTINIQUE AND GUADALOUPE. 

ake Teleohaphic Transfebs of Monet between this 
and other countries, through London and Paris. 

Make Collections of Drafts drawn abroatl on all points 
in* the United States and Canada, and of drafts drawn in 
the United States on ForeiKn Covjitries. 

A. Whitney & Sons, 

CAB WHEEL WORKS, , 

Callowbill and 16tli Streets, ' 

PHILADELPHIA, PA. '1 . 

^ 

We furnish CHILLED WHEELS for Cars, Trucks, and 
Tenders. CHILLED DRIVING-WHEELS and TIRES fox 
Locomotives. ROLLED and HAMMERED AXLES. 

WHEELS AND AXLES FITTED COMPLETE. '*■ V 

MADE ENTIRELY OF 8TEL '^ 

ONE MAN with it can easily 
moye a loaded car. 

Manufactured by L P. DWIGHT, 

Dealeb in Railboad Supplies, 
407 LIBRAKY ST., . , 



ZTML 

CAR 

PUSHEE 



v;.K,:fVv 






^BiVIWW"" 



I lu.i .11111 tmmmfmm^mmarmmmmmfm 



■ < 



AMERICAN RAILROAD JOURNAL. 



mmm 



131 



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VALE NT I N E:S f IT A R N I S H E S 



AIt£ ON SALE IN THE FOLLOWING COUNTRIES: 



t:^' 

1:^- 






ENGLAND. 

- ._.,^..: PRANCKJJ-:y;;/;';v^;;:t;vf^^ 
GERMANY. 

AUSTRIA. 
..:.; L;-- '^v.t..: SPAIN.:;. -j,-;;. 

•■w;£;■^^;:;b^:-:i^v^/^^^ india. 



SWITZERLAND. - 

... ^;., ITALY. ;: J\.J;: ■ ■ :':-\""''^.';-:^.'^^^ .- / 

] HOLLAND. 

/.- ''-' ■ 'i':-^ SCOTLAND. ■:.;:■'"';■ 

■:'kf-:0m^^^ RUSSIA.' : 

--^"^^■■^3:';:-; . ', AUSTRALIA. 



^1 



!•• \:-.ir -si- 



SOUTH AMERICA. 
^MEXICO. 



NEW ZEALAND. 
CUBA. 



'■'••;;: -^tV' 



> '. a ' .■*■ 



VALENTINE & COMPANY, 



:iv:--.|;- 



COACH AND CAR VARNISHES, 



•-V 



i^H ""*-;■-''* ■ 



i^A'-: 



This Space to be occupied by Moller & Schumann, 
Varnish Manufacturers, Brooklyn, N. Y. v f 



'r»* 



i • .-* 



,i«^ 1?; 



35- i»aj:-- ^",>"^<: jir-^%.; s 



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-:■" , . .•- - '.'■•■ 


■.-■ i!."*'-.' -* 




■' .*•- :■ * . 



EAMES VACWM BitAKE C6. 



3 



''m'mMW' RAILWAY trai]\ brakes," iliS:^!^::; 

p. 6. Box2,8'78.] SALES OFFICE, 15 COLD ST., N. Y. Represented by THOS. PROSSER & SON. 

The BAMES VACUITM BitAKE is confidently offered as the most efficient, simple, durable and cheapest Power Brake in the 
market. It can be seen in operation upon oyer seyenty roads. 



^' ^-/M. JV 



132 



AMERICAN RAILROAD JOURNAL. 



WATER TUBE! STEAM BOILERS. 




THE BABCOCK & WILCOX CO., 

30 Oortleincit St, New York- 
lie James Street, Glasgow. 

JOHN^TEPHENSONCO. 

: ' [Limited.] 




i»"*ii!«i4air-: 



NEW YORK. 



Superior Elegance, Lightness and Du- 
Tability. The result of 50 years' exper^ 
ence. ' i 

Adapted to all countries and climates 
Combining all valuable improvements 
Shipped to Foreign Parts with greatest 
care, and at most favorable rates 

flOUSA TONIC RAI LROAD 

. THE ONLY LINE RUNNING 
O? K I^ O TJ O- 13: O-A-I^S 

Between New York, Great Barringtou, Stockbridge, Len- 
ox, and Pittsfleld — the far-famed resort of the 

Berkshire Hills 

3f Western Massachusetts— the •'Switzerland of Ajoieriaj. 

Two through trains daily between New York City an . 
all points on the Housatonic Railroad, from the Granc 
Central Depot via the New York, New Haven, and Hart 
ford Railroad at 8:05 A. M. and 3:43 P. M. 

Descriptive Guide Book sent free upon application to 
the General Ticket Agent. 

H. D, AVERILL, Gen'l Ticket Agent. 
li. B. STILLSON, SuperinUndent. 
General Offices, Bridgeport, Ct.. January 2, 1882. . _'< j 



jo(inB.Davids4Co^ 



^r^%^%m%v^nmm^n 



Ej . - . 4 r ^ J J J '« ii » -J . . . 
J»G IN EEKS.Mechanics.M ill Owners.Builders, Manu- 
facturers, Miners, Merchant^ Ac, will find in Moo re's 
Universal A ssistant and Complete Mechanic, a work 
containinflrlui6pai;es,600EnKravings,461 Tables, and over 
I,000,OCOIndustriarFacts,Calculntion.s Pro<pF8e8, Secrets, 
Rules, Ac, of rareutilityin 2 OTrades. A $5 bookfree by 
mail for $2.50, worth its weight in gold to any Mechanic, 
FarmerorBusinessMan. Affenta Wuntefl. Sure sale every- 
where for all time. For 111. Contents Pamphlet, termg, 
and Catalogue of aOO Practical Books, address NationaXi 
Book Cik, 73 Beekman St., New York. 



W NO OTHER LINE IS SUPERIOR TO THE . - 

FITCHBURG RAILROAD 

HOOSAC TUNNEL ROUTE 

IVBSTi 

6.30 A: 



ACCOMMODATION. 



Connecting at Syracuse, N. Y., at 7.15 P.M., with through sleeping cars for Cincinnati, 
Cleveland, Toledo, DETROIT AND CHICAGO. _ 



'■•i'.i; 



5" VL^i^lk'n 



3.00 S 



CINCINNATI 

EXPRESS. 



r-. if 



Pullman Sleeping Car attached, running through to Cincinnati without change. (Only Line 
running Pullman Cars from Boston.) This car runs via Erie Railway and N.Y., P. & O. R.R., 
making direct connection for Louisville, St. Louis, Kansas City, New Orleans, and all 
points in Texas and New Mexico. 



.-;.-<- 



3 




P. ST. LOUIS 

M. EXPRESS. 



THE ONLY LINE which runs a THROUGH SLEEPING-CAR from 

BOSTON TO ST. LOUIS WITHOUT CHANGE! 

ARRIVING AT 8.00 A.M. SECOND MORNING. 

Through sleeping car for Buffalo, Toledo, Fort Wayiie, Logansport, Lafayette, Danville 
Tolono, Decatur and St. Louis, making direct connection with through Express Trains fo: 
Kansas, Colorado, Texas, and all points in the 

SOUTHWEST. 




V -..■' ■ 



-•' ..iA, 



P. PACIFIC 

M. tEXPRESS.1 

The only line running a through sleeping car vii Buffalo and Detroit without change 
arriving at Chicago at 8.00 A.M. second morning, making sure connections with through Ex 
press Trains for Iowa, Nebraska, Kansas, Colorado, the Pacific Coast, Wisconsin, Minnesota 
jtnd all points in the -r -^ • -= ..,..- -;.,,!,.,,,. ^-, j^- {• > .• - ■ 

WEST AND NORTHWEST. 



\ ; 



THE ABOVE TRAINS RUN DAILY, SUNDAYS EXCEPTED. 

ills Great Short Line passes through the most celebrated scenery in the country, including the famous 
HOOSAC TIINNEL, four and three-quarters miles long, being the longest Tunnel 
In America, and the third longest In the world. 

I Ttckets, Orawinv-Room and Sleepingr-Car Accommoclations may be securecl in AdTance 
I " ■ *y Applying to or Addressing ^ . -^ > 1 ■ .- ::.i ' 

250 WASHINGTON STREET, BOSTON. _250 

j JOHN ADAMS, General Superintendent. F. 0. HEALD, Acting Gen'l Passenger and Ticket Agent. 



la effect Jannarjr 9th» 188S» and aulOect to cluuiv«a. 



:..v..4:i.: 



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AMERICAN RAILROAD JOURNAL. 



'.4. 



133 



E. W. Vanderbilt. K. M. Hopkins. 

VANDERBILT & HOPKINS. 

Railroad Ties, 

Cai AMD Railroad Luhber, White ahd Yellow Pine am Oai. 
130 L-iberty Street, N, Y. 

Also North Carolina Pine Boards, Plank, and Dimen 
si ons Lumber to order. Gteneral Railroad Supplies. 

SHLIGG BROTHERS, n 

;^ DESIGNERS AND ENGRAVERS ^-'.^.--'.-f 

AND 

PHOTO ENGRAVERS, 

" ^ No. 18 Cortlandt Street, 

NEW YORK. 

KNOX & SHAIN^ r - 

Manufacturers of Engineering and Telegraphic Instru- 
ments. No. 716 Chestnut Street, Philadelphia. Two 
Medals awarded by the Franklin Institute, and one by 
I he Centennial. 



1 



FAIRBANSS' ^'^"''^"s'Sai.es. 

eoo 2s4:o3DXF^c-£i.'no3srs. 



,,v>..S 



PATENTS 

We continue to act as Solicitors for Patents, Caveats, 
Trade Marks, Copyrights, etc., for the United States. 
Canada, Cuba, England, France, Germany, etc. We 
have had thirty-five years' experience. 

■ Patents obtained through us are noticed in the Sci- 
entific AMERICAN. ^This large and splendid Illus- 
trated weekly paper, $3.20 a year,shows the Progress 
of Science, is very interesting, and has an enormous 
circulation. Address MUNN & CO., Patent Solici- 
tors, Pub's, of Scientific American, 37 Park Row. 
Mew York. Hand book about Patents frRe. 




ADAPTED TO ALL CLASSES 
- OF BUSINESS. 



Railroad and Warehouse Tracks, 

AND COPYING-PRESSES 

Oldest and Largest' 
Scale Works in the World. 

BUY ONLY THE GENUINE. 



Donnant "Warehouse Scales. 



F ^ TT^ B,<^^^3 ^ JSS dc CO., 
311 Broad uay. New York. 



A. Ii^ B R, I O A. NT 

COMBINATION SAW. 

. * jWithout Lathe. 



FIDELITT AND GASQALTT GOIPANTj 

CASH CAPITAL, - .... $250,000. 

lPIDE33LinTY BOITOS. 

Bonds issued guaranteeing the fidelity of persons holding positions of pecuniary trust and renponsibilitr 
thus securing a Corporate Guarantee in lieu of a Personal Bond where security is required for the faithful per 
formance of the duties of employes in all positions of trust. ' . . , 

-A.OOirDE3SrT FOLIOIBS. 

Policies issued against accidents causing death, or totally disabling injury, insuring from Five Hcndrsd 
DoLi^ABs to Ten Thodsand in case of death, and from Thsee Dollars to Fifty weekly indemnity in case of dis 
abling injuries. 



WM. M. RICHARDS, Pres't. 



JOHN M. CRANE, Secy. 



DIR,EIOTOR*S : 



Geoege T. Hope. 

G. G. WlIiUAMS. 

J. S. T. Stranahan. 



H. B. CliAFIilN. 

A. S. Barnes. 

H. A. HURLBUT. 



W. G. Low. 
Charles Dennis. 
S. B. Chittenden. 



Gex)bge S. Coe. 
Wm. M. Richards. 
A. B. HcLL. 




STEEL 
CASTINGS 



FROM 1-4 TO 10,000 lbs. WEIGHT. | 



True io pattern, sound and solid, of uneqaaled strenfrth, toaehnesK am! 

durability. 
An invaluable substitute for forcings or cast^irons reqaiong three-fo!c 

strenerth. 
CROSS-HEADS. ROCKER- ARMS, PISTON-HEADS. FTC. foi 

Locomotivos 
15,000 Crank Shafts and 10.000 Gear Wheels of this steel now runnin; 

prove 1 ts superiority over other Steel Cast injrs. 
CRANK-SHAFTS, CROSS-HEADS and GEARING, speciaKies. 
Circulars and Price Lists free. Address 

CHESTER STEEL CASTING CC. 

40T Library St., PH1L,ADELI"HIA 
'VForks. CHESTCR. P«. 



\ 



SWIFT'S IRON AND^STEEL WORKS, 

26 W. THIRD ST., CINCINNATI, OHIO. 






Manufacbrers of all Weights of Siandard and Narrow Gauge Ralls by the most approved process. Also Rail Fastenings, 
; : :, , Steel and Bloom BoHer Plate, and Tank, Sheet and Bar Iron. i: . . > :. •, | 



^''K 



C3-EO. 



IRON AND STEEL RAILS. 



Erv-^i.iTS, 



T-a TT^aJl Street, iT. "2". 



Price $6 without Lathe ; withikthe, J8. 



Sandusky Rail Mill Co. Jc.h.odell. agt. : 

Y ■* \ 104 John St., N. Y. . 

J.'---"' '■■■ 



■ : 'v-"-» 



Address the Manufacturkks, ■ ""'. 

C.M. CRANDALL & CO., 

MONTROSE. Susquehanna Co.. PA. - : 



n^ew Albany Bail 9Iill Co. 

STEEL RAILS, 

IRON RAILS, 

BLOOMS. 



FOB SALE IM rOTS TO I^UIT. V 

r Prompt Delivery. -' 

CONTRACTS TAKEN FOR ROLLING STEEL BLOOMS, 

AND FOR RE-ROLLING OLD RAILS. 

OLD RAILS AND SCRAP AND CAR WHSLS BOUGHT AND SOLO. 



.-u \-z^.^t.:i^r' 



■^ie fc 






t AMERICAN RAILROAD JOURNAL. 



OI^JrTOJ=J OI^* 



AMERICAN 

RETRIGEMM 



i i\:i 



LINE, 



1 : •.: 



New York, Oct., 1881. 

Shippers of Foreign, Domes- 
tic, and Fresh Fruit, Imported 




Of the Finest Finish, as well as every description of CAR WORK, furnished at short notice and at reasonable 

Prices by the 

HARLAN & HOLLINCSWORTH CO., Wilmington, Del. 



Liquors, Patent Medicines, Es- 



sential Oils, Mineral Waters, 



Lager Beer, Ales and Porters, 
Oysters, or, in fact, any class ol 
goods that needs protection 



from heat or cold while in tran- 



sit to the West and Southwest, 
either in Summer or Winter, 



will do well to ship the same by 



PARDEE CAR WORKS. 




WATSONTOWN, Pa. 




) will""" «, l/Vl, 

PROPRIETORS. 

lyfctxi'u&LOt-u.rdrs of 
Mail. Baggage, Box, Gondola, Flat, Gravel, Ore, ('oal. Mine, and Hand Cars ; 
Kelley's Patent Turn-Tables, and Centers for Wooden Turn-Tables; / 
- Car Castings, Railroad Forgings. RoUing-Mill Castings, vi* :■.;'' 

, [ '■; ^ :. Bridge Bolts and Castings. ^^ ^^v . -t ^^^> ^f^ i 

Jt^'We have, in connection with our Car Works, an extensive Foundry and Machine-shop, and are prepared 
:o do a general Machine Business. 



Chainnnn, 
A.BIO PARDEE. 



Treasurer and General Manager, 
H. P. SNYDER. 



Secretary, 
N. LEISER. 



NEW YORK CITY OFFICE : ROOM A, No. 137 BROADWAY. 

C. "W. liEAVITT, Agent. ^' :':■■■ ; <>: 'i^ 



•^'—t^. 



the new and elegant ears of the 



REPRIBEMTOR TRANSIT COMI 



■■•/;.:..-■;-::; ^•-. i/rt' -.-.I:.. .--':.; ■ 

Guaranteed Bills of Lading will 

be given. " ^ -.--^r ■■'.■. ■{■'-.■■■ -'^:i:;v-;. 

Time as quick and rates as 

low as b^ any first-class fast 

freight line. I rrt/^ i:; 

^Ship from NEW YORK via 
N. Y. C. and H. R. R. 1?., St. 
John's Park; from BOSTON via 
Boston and Albany R. R. 



Off mi uu un, m ffESTERU umm 

TO TKE3 TR.A.VE!I_iIN"C3- FXJBXjIO. i ; 

During the Centennial season— six months closing September 10, 1876— the Erie Railway caiTled almost 
rHBBE MiLUON passengers, without a singe accident to life or limb, or the loss of a piece of baggage. 

And for a whole year the official records of the United States Post Office Department show the striTala of 
1 le Railway trains in New York, on time, to be from 15 to 27 per cent ahead cf competiug lines. 

Facts well worthy the consideration of travelers. » -t' -t. , 



i!. S. BO'WEN, General Superintendent. 



JTSO. N. ABBOTT, dm. hutenoer Agent 



Railroad 



For rates and information apply to 

FRED'K I. EVANS, 

Meral Eastern Agent ;i 



92 Wall Street, - New York. 

271 Broadway, New York, 

232 Washington Street, Boston. 




Track Scales. 




AND 

TESTING 

MACHINES 



PHILADELPHIA: 
50 South Fourth Street. 

newyorkT 

1^ 1^ Liberty Street. '^ 

r PITTSBURGH: 
Liberty St., cor. 7th Ave. 

ST. LOUIS : ^ 

609 North Third Street. 

NEW ORLEANS: 
1 42 Cravier Street. 



GORDON & DUGGAN 

: m SWITCH. : 



The Standard on several and in use on 
twenty-five Railroads. 

Combines Safety, Durability, Simplicity, 
and Ijow Cost, with Fixed RaiiS. 

The only movable piece weighs 375 lbs. 
and is without a bolt or rivet. 

E. CORDON, Treasurer, 

No. 28 State Street, Boston, Mass. 



THE ROGERS 

LOCOMOTIVE AND MACHINE WORKS, 

Faterson, N". J. 

Having extensive facilities, we are now prepared t< 
inmiRh promptly, of the best and most approved de 
scription, either ' ' 

COAL. OR WOOD BVRNIMU : ^^' 

"~ AND OTHKB VAKIETIKS OT ^^^ ' 

RAILROAD IVIACHINERT. 



J. 8. ROOBR8, PretH. ) 
R. S. HUOHBS, .Sr«c'y. \ 

>If, Sup'L ) 



R. S. HUOHKS. .S< 
WM. 8. HUDSON, 



Pmtenon, H. J. 



m. S. HTJO-iaiES, TxesisMrex. 

44 Kxchaafti^e Place, H«w York. 



■.su- .fisr"-' 



. (■■'■ ■ 



AMERICAN RAILROAD JOURNAL. 



135 



t RENDLE'S PAT ENT SYSTEMS OF G LASS ROOFING. 

A NOVEL and useful patent is being introduced in this country by Mr. Arthur E. Rendle, No. 7 Warren Street, New 
York. It is a system of glazing known as " Rendle'a Patent System of Glazing," and is largely used abroad, especially in Eng- 
land where nearly all the great railway stations, government buildings, conservatories, etc. are glazed in this way. 

The principles of this method are the insertion of the glass in metal bars attached to the wood or iron work, and so 
arranged that the drip from condensation is carried ofi from the interior of the light by ingeniously contrived chai iiels. Expan- 
sion and contraction are also provided for, and the great feature is the fact that all filling with either putty, fult, cement or 
solder is dispensed with, thus rendering the roof or skylight comparatively indestructible, and involving light expanse in repair 
and maintenance The work is rapidly and economically constructed, and as more light, greater durability and large saving in 
expense are obtained, the system is rapidly being adopted by numerous leading railways, manufacturers, etc., among which are 
the N. Y. C. & H. R. R. R. — the Buffalo depot having been glazed with this method — the N. Y., Pa. & Ohio R. R., Cleveland 
car shops, Flint and Pere Marquette R. R., etc., etc.; ana the Yale Lock Manufacturing Co., Renfrew Manufacturing Co., 
Adams, Mass., Wm. Skinner & Son, Holyoke, Mass., Hamilton Web Co., Hamilton, R. I., The American Zylonite Co., 
Adams, Mass., and others. «..^;-.*;-: -••;-..': .^ .y-y-.-':- -..-^ -y-.;;.\^-^. J-^r--' ..■:.///•>'; ^i •—•■..,. :;.-...^- - , -■ |. 

The accompanying cuts show the " Ordinary '^ and " Combination " systems ; further information regarding which majr 
be obtained by addressing the patentee. ,, .^:,^ 



:.<i: ■,^,,.:'Vi ?";.>; 



.•i5r'":-je;;. 



J^.^Si -V«,; 



RENDLE'S PATENT OHDINARY SYSTEM. 









tj.j.*.— n\i.,,^>-- 



.f^-:"^ 









SECTION OF 
IRON 




-'_ 



SYSTEM. 






RENDLE'S PATENT COMBINATION SYSTEM. 



V ">••■,,• 



■<.: r,>>. VI 







TEBTICAL BAB 



HEAD OFFICE : NO. 7 WARREN STREET^ 



s^l^i f :: 



• ■,'■>: 






NEW YORK. 



1^ 



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136 



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AMERICAN RAILROAD JOURNAL 



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m .r^^.'^ 


..J-/ .•* 



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Adopted by the New York Steam Company, to the exclusion of everything else, to insulate its underground system of steam distribution. ' ■ 
Sample and circular free by mail. 

UNITED STATES MINERAL WOOL COMPANY, 

ITo. le OortlgLTicit street, ITB'W" "yOR>Ig. 

NATIONAL TUBE WORKS CO. 

MANUFACTURE WROUGHT IRON PIPES AND TUBES. 

WORKS: 

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Boston, Mass. 



NATIONAL SPECIAL Sm-STEEL 




OFFICES: 



TITRF^ I04and 1 06 John St., N.Y. 



8 Pemberton Sq., Boston. 
1 59 Lake St., Chicago. 



KSTABLISHED IS 1836 



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GEORGE G. LOBDELL. President. * j 

WILLL^M W. LOBDELL, Secretanf. 

P. N. BRENNAN. Treasurer. 



J. C. BEACH, Treas. 
/ THE 



C. H. ANTES, Sec'y. 



ALLEN PAPER CAR WHEEL COMP'Y. 

' GeuM Office, id40 Btoaflwt>^ N. Y. 

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AN INDESTKUCriBLE WHEEL FOR PASSEN- 
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For Packing Journal Boxes of Cars, 

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240 Broadway, - New York. 



EAGLE 
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614 TO 626 WEST 24TH ST., 

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IRON AND RAILWAY BUSINESS. 

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RAILROAD IRON. 

The undersigned, agents for the nianu£M;tnrers, ar« 
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MANUFACTTJKED BY THE 



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Works; 33d and m^ashlnvton Ave. 
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•^' ^' ' i j: '^ "-. ' ' * 



i' 'V TJ^ 




Steam Navigation, Commerce, Finance, Banking, Machinery, Mining, Manufactures. 



SKOOND QUABTO Sbkies.— VoL. XXXVIII., No. 9.J 



NEW YORK, MARCH 4, 1882. 



[Whou No. 2,393.— Vol. LV. 



The Hoo8a.c TunneL 



From N. H. Egleston's Stokt op the Hoosac Tunnel 
IN THE Atlantic Monthly. 
The Hoosac Tunnel, with all the delays, 
mistakes, and disappointments connected with 
it, is a grand achievement. It is one of the 
great works of our time. Begun, in its con- 
ception, as part of a canal, its completion 
marks the triumph of the railway, and the 
great change of inland transportation from the 
water to the land. Begun with the purpose to 
make it a part of a canal which, in connection 
with the Erie Canal, then in process of con- 
struction, should form a great line of commu- 
nication and transport between the new West 
and the Atlantic markets and manufactories, 
the tunnel has hardly been completed and 
brought into use when the question is under 
debate whether the great Erie Canal itself shall 
not be abandoned, as no longer able to com- 
pete with the railway. Already twenty pas- 
senger and as many freight trains pass through 
the tunnel daily. Every morning through this 
gateway of the Green Mountains roll the cars 
whose wheels the evening but one before be- 
gan their revolution at St. Louis, beside the 
Father of Waters. More than three hundred 
cars daily carry their burden through this new 
avenue of transit. Following, to a great ex- 
tent, the line of the natural water-courses 
on the route, the easy grades thus secured 
cheapen the cost of transportation from Cali- 
fornia and Dakota, from the corn-fields of 
Illinois and the wheat-fields of Minnesota, to 
Massachusetts Bay; and a cent less of freight 
on each bushel of grain or barrel of flour 
means millions of dollars saved to the con- 
sumers of bread in New and in Old England. 

If for nothing else the tunnel would be 
worthy of notice as a triumph of engineering. 
Some may think that it was only a question of 
Patrick with his drill and plenty of gunpowder 
and time; and that to go through a mountain 
is no more than to go through a hill, or a 
short rock cutting, except that the process is 
lengthened with the distance. But "time is 
money." It would take fifty years to go 
through the Hoosac Mountain, beginning at 
any point on one side, and burrowing to the 
other. We could not wait for that. No one, 
not even a state government, would put capital 
into a work the end of which was to be reached 
only after half a century. So the tunnel must 
oe begun at more than one point. Here at 
once is involved a nice problem of engineering. 



Working simultaneously from opposite sides of 
the mountain, it is no longer Patrick burrow- 
ing through by whatever zigzag course he may 
chance to take, but these tunnelings from 
opposite sides must be so directed that they 
shall finally meet, and fall into an accurate line 
of adjustment. How shall this be done ? As 
any one can see, who gives the matter a mo- 
ment's thought, a slight deviation from the 
mathematical line required would cause the 
two arms of the tunnel to miss each other. 
The width of the tunnel is twenty-four feet. 
It is only necessary, therefore, for the ap- 
proaching excavations to swerve from their 
true place at the point of expected junction by 
anything more than half that measure, or 
twelve feet, in order to slip by each other, and 
go farther and farther asunder, instead of com- 
ing together. Who will measure and set the 
angle which shall determine the momentous 
difference in such a case between success and 
failure ? The tunnel is to be nearly five miles 
long. Each channel from the opposite sides 
of the mountain will therefore be nearly two 
miles and a half in length. The problem, 
then, is to run two lines of excavation through 
a mountain, with no visible point in front to 
aim at, as the engineer has in the open field, 
and yet to have them so nearly coincident in 
direction for a distance of twelve thousand 
feet each that they will not miss each other, 
but form one continuous whole. No Creed- 
moor rifle needs to be aimed so nicely in order 
to hit the bull's-eye. No allowance for wind to 
swerve, or the power of gravitation to draw 
down the ball from its proper course, render 
the marksman's problem so difficult of solution 
as the engineer's in this case. An error in the 
sighting of his instrument amounting literally 
to a hair's-breadth would send the arms of his 
excavation wide asunder into the bowels of the 
dark rock, leaving his txinnel no tunnel at all, 
but only a worm's track in the mountain. But 
the problem in this instance was still further 
complicated. To hasten the completion of the 
tunnel by providing additional faces on which 
the workmen could operate, as well as for the 
purpose of ventilation, it was determined, as 
we have seen, to sink a shaft from the top of 
the mountain to the level of the tunnel, mid- 
way between the two ends. Two factors were 
thus at once added to the problem : first, to fix 
so accurately the point on the mountain at 
which to begin the downward excavation that 
when, after working by faith for four years, 
the estimated time necessary, the miners 



should have reached the requisite depth, they 
would be in exact line of the projected and 
partly completed tunnel; and, secondly, from 
that pit in the depths of the mountain, to be 
able to aim their course in either direction so 
correctly as to be sure of meeting the com- 
pany of miners approachii^ them from both 
extremes of the tunnel. In short, here were 
four tunnels to be made at the base of the 
mountain at one and the same time, and an- 
other from the summit perpendicular to them, 
and all to be exactly in the same plane, on 
penalty of the failure of the entire enterprise, j 

It was a difficult problem. But it was solved 
most triumphantly. When the headings from the 
central shaft and from the eastern portal came 
together, as come together they did, their align- 
ments swerved from each other by the almost in- 
finitesimal space of five-sixteenths of an inch ! 
It was an unparalleled feat of engineering. 
With the best engineering talent of Europe the 
opposite arms of the Mont Cenis Tunnel had a 
divergence of more than half a yard. The 
office and worth of Bciei^ce were admirably 
illustrated in the case of the Hoosac. It was 
science applied to science which built this great 
thoroughfare of traffic and travel. Its lines 
and proportions were all ascertained and laid 
down by scientific calculation. Patrick could 
pound the drill and light the fuse that would 
explode the chaises of powder; but without 
scientific engineering to lay his path for him 
and mark every drill hole, Patrick would have 
wandered in the depths of the mountain till 
doomsday, with his powder and drills, and no 
practicable tunnel would have been the result. 

And yet, after all, there is little to be seen of 
this great work. The passing traveler by the 
railway, looking from the rear of the train, as 
it glides into or out of the tunnel, witnesses 
nearly all that a more protracted visit would 
enable him to behold. The description we 
have here given will really afford one more 
knowledge of this great work of art than he 
will be likely to gain by a personal inspection. 
Going to it, he will at the most see only the 
archway at either end, and the masses of 
shapeless rock which have been excavated and 
used in part as an emlmnkment for the railway 
approaches. He will come to the portal ex- 
pecting, probably, to look through to the oppo- 
site entrance — at least to see a ray of light 
from that point; or, if he has been told there is 
an ascending grade from either end, which 
would preclude such a sight, he will still ex- 
pect to look along the symmetrical archway of 



t - 



iU"''**Wf«;-WI'VW, ^"^T. 



'?>•'>* y^-». 



138 







I 



AMERICAN RAILROAD JOURNAL. 






stone to such a distance within as will give 
him some impression of the magnitude of the 
work here wrought. But if ever such a sight 
were to be had, it must have been before the 
tunnel was completed and brought into use. 
And what, after all, is an opening only twenty 
feet in diameter in a mountain that towers 
above it to the height of seventeen hundred 
feet, and is almost j&ve miles from side to side ? 
How could we expect the light to stream 
through such a knitting-needle kind of hole ? 
But whatever may once have been possible, 
now that scores of trains are daily passing 
through the tunnel the original dimness has 
become blank darkness. A cloud of smoke 
pervades it through its whole length, wafted 
backward and forward to some . extent by the 
occasional winds, or creeping slowly out at one 
pqrtal or the other; but each passing train adds 
, enough to keep the entire tunnel charged so 
that practically no one can see more than a few 
yards or rods, at the most, within the great 
cavern. No artificial light, not even the head- 
ts of the locomotives, can penetrate the 
darkn^s^ for any considerable dist'ince. The 
engineer se^ea nothing, but feels his way, by 
faith and simple push of steam, through the 
five miles of solemn gloom. If there is any 
occasion for stopping him on his way through 
the thick darkness, which may almost literally 
be felt, the men who constantly patrol the 
huge cavern to see that nothing obstructs the 
passage do not think of signaling the ap- 
proaching train in the common way, by means 
of a red lantern. That would be useless. They 
carry with them powerful torpedoes, which, 
whenever there is occasion, they fasten to the 
rails by means of screws. The wheels of the 
locomotive, striking these, produce a loud ex- 
plosion, and this is the tunnel signal to the 
engineer to stop his train. 

• Discrimination and Equal Terms. 




ABRIDGED FBOM ADVANCE SHEETS OF THE THIBTEBHTH 
ANNUAL KEPOBT OF THE MASSACHUSETTS 

KAILKOAD COMMISSIONERS. j I 

DuBiNG the railroad year no complaint has 
been made of refusal of equal rates, or of any 
kind of discrimination, except in one case, 
where express trains were directed to be 
stopped at a flag station at the request of two 
parties only. Upon a suggestion that this was 
an error, orders were at once given that all 
persons should have the right to stop trains at 
this point. 

No law of this State requires an equal rate 
per mile for fares or freights. And it is fortu- 
nate that there is no such statute; for it would 
prevent the trying of an experiment which is 
of great interest, and which promises to be of 
great service. This is the scheme of very low 
suburban fares, equal for all stations within a 
certain distance from Boston, which has been 
inaugurated by the New York and New England 
Bailroad. This company charges five cents for 
every passage to or from points not more than 
five miles from their Boston station. In this 
way the benefits proposed by so-called " work- 
in*nnen's trains " are secured in a more liberal 
and more convenient way. Such fares will, in 
some cases, render it economical as well as 
pleasant for passengers to go out at noon, and 



return after dining with their family. They 
apply, also, to all the members of a family, as 
well as to its head. The Fitchburg Railroad 
Company has made a somewhat similar ar- 
rangement, and other railroad companies are 
expected to follow. 

It is gratifying to know that the experiment 
on the New York and New England road has 
been thus far completely successful. 

It seems proper to allude to a decision of the 
Supreme Court, which corrects a very general 
misapprehension as to the law of this State in 
regard to discrimination and inequality of 
rates. Since 1867 it has been believed by 
lawyers and railroad men, and by the public 
generally, that railroad companies were bound 
to give equal rates to all customers; i. e., the 
same rate for the same service ; having regard, 
of course, to the quantity of freight carried at 
one time. It has been supposed that a prefer- 
ence by which one dealer was favored above 
another, or above others, was illegal. And the 
reason for the supposed legislation was held to 
be, that this was not only just, but, on the 
whole, that it was the best policy. And it was 
thought, that, although in some isolated case 
it might seem advantageous for a railroad com- 
pany to prefer some person or corporation in 
order to build' up a great business, or to intro- 
duce a new one, yet it was deemed to be unsafe 
to intrust such a power to a corporation. It 
was considerefl as a stretch of legislation to 
delegate to a railroad company authority to 
create a monopoly such as might result from 
the exercise of such a power. 

So generally did this idea prevail that in 
many States— indeed, in most except Massa- 
chusetts — this doctrine was held to be estab- 
lished by the common law, without the need 
of legislation. 

In Massachusetts a different doctrine pre- 
vailed. And while the granting of reasonable 
rates was held to be the duty of all common 
carriers, including railroad companies, it was 
decided that such companies might give differ- 
ent rates to their customers, making them 
lower for some shippers than for others. This 
doctrine was laid down in the case of F'Uchbnrg 
Railroad Company v. Gage, 12 Gray, 393, which 
decided that "a railroad corporation is not 
obliged, as a common carrier, to transport 
goods and merchandise for all persons at the 
same rates." 

The difference between this rule and that of 
other States will be seen by the following ex- 
tracts from the opinions of two well-known 
jurists; and such extracts might be multiplied 
almost indefinitely : — 

"Atoll is granted. But atoll implies uni- 
formity of compensation for equality of ser- 
vice. It is for the sole benefit of the corpora- 
tion, and not to enable the corporation to give 
discriminating advantages." — Appleton, C. J., 
New England Express Company v. Maine Central 
Railrond Company, 57 Maine, 188-196. 

"No special privileges should be granted to 
one man, or set of men, and denied to 
others. The special stipulations inserted in 
charters, for the purpose of securing these 
rights, are placed there in abundance of cau- 
tion, and affirm nothing more than the com- 
mon right to equal justice which exists inde- 
pendent of such provisions. The supposed 
necessity for such provisions in charters 
granted in this country and in England proves 
nothing more than that the law-makers in both 
countries were aware of the difficulty in hold- 
ing large corporations to those common obli- 
gations of justice which individuals feel bound 
to acknowledge without legislative enactment." 
— C. J. Twiss, 24 Penn. 378. 

In 1867 an attempt was apparently made to 
change the law of Massachusetts, and make it 
conform to that of other States, by passing 
chapter 339, requiring " equal" as well as rea- 
sonable terms, etc., " for all persons and com- 
panies." But, as it now appears, by an unfortu- 
nate choice of language, the Legislature re- 
enacted the doctrines of Fitchburg Railroad Com- 
pany V. Oage, instead of repealing them. 



In Spofford v. Boston & Maine Railroad, 128 
Mass. 326, the plaintiff, a student who had 
paid the regular price of a season-ticket for 
three months, showed that other students of 
like age had been allowed, at the discretion of 
the president, to buy such tickets at half price. 
And it was held that there was not a violation 
of law, and that no action could be maintained. 
In giving the decision. Justice Soule says: — 

"The provisions of section 138 are re-enacted 
from the Statute of 1867, chapter 339, prev- 
iously to which statute there was no legislative 
enactment of the sort. In the year 1859, it 
was decided by this Court, in Fitchburg Railroad 
V. Gage, 12 Gray, 393, that the common law re-»- 
quires of carriers equal justice to all; that 'the 
equality which is to be observed in relation to 
the public, and to every individual, consists in 
the restricted right to charge, in each particular 
case of service, a reasonable compensation, 
and no more. If the carrier confines himself 
to this, no wrong can be done, and no cause 
afforded for complaint. If, for special reasons 
in isolated cases, the carrier sees tit to stipulate 
for the carriage of goods or merchandise of 
any class for a certain time, or in certain 
quantities, for less compensation than what is 
the usual, necessary, and reasonable rate, he 
may undou