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iFRANK W. AMADON 



First Annual Report 



OF THE 



We$ End jStat ^ailtoafl Gompang. 



1888. 



FIRST ANNUAL REPORT 



OF THE 



WEST II 1ICT EM 



u 





D 




FOR THE YEAR ENDING SEPTEMBER 30, 1888. 



(EMBKACING TEN AND ONE-HALF MONTHS.) 



. BOSTON: 

R. H. BLODGETT, Printer, 30 Bromfield Street. 

1888. 



DIRECTORS AND OFFICERS. 



1888=1889. 



DIRECTORS. 

Nelson Bartlett. 
Nathaniel J. Bradlee. 
G. T. W. Br a man. 
Isaac T. Burr. 
Joseph S. Fay, Jr. 
Charles O. Foster. 
Jonas H. French. 



Henry D. Hyde. 
E. D. Jordan. 
Samuel Little. 
D. F. Longstreet. 
Asa P. Potter. 
Edmund Reardon. 
Dexter N. Richards. 



Henry M. Whitney. 



EXECUTIVE COMMITTEE. 



Isaac T. Burr. 
Henry D. Hyde. 



Asa P. Potter. 
Dexter N. Richards. 



Henry M. Whitney. 

CLERK OF CORPORATION. 

Prentiss Cummings. 



OFFICERS. 

Henry M. Whitney .... President. 
Prentiss Cummings .... Vice President. 

D. F. Longstreet General Manager. 

J. H. Goodspeed Treasurer. 

C S. Sergeant Audi/or. 



FIRST ANNUAL REPORT. 



OFFICE OF THE 



Witst gnd street l^ailflmg (JPompatitj, 

BOSTON, NOVEMBER 8, 1888. 
To the Stockholders: 

Your Directors respectfully report that the operations of the Road 
for the ten and one-half months ending September 30, 1888, as shown 
by the statements of the Treasurer accompanying this Report, are as 
follows : 

Gross Earnings from November 12, 1887 . . . $4,276,331.18 

Operating Expenses " " ... 3,348,055.82 

Net Earnings " " ... 928,275.36 

Fixed Charges for the same period were as follows : — 

Taxes $133,269.22 

Rentals Leased Roads . . . 8,415.00 

Interest ...... 196,079.89 

Total Fixed Charges .... 337,764.11 

Balance Available for Dividends .... $590,511.25 

Against which dividend charges are as follows : 

Proportion of Preferred Stock Dividend paid 
January 1, 1888, accruing since No- 
vember 12, 1887 $68,266.67 

Preferred Stock Dividend paid July 1, 1888 . 256,000.00 

Common Stock Dividend " " " . 21,055.00 

Preferred Stock Dividend, accruing to Sep- 
tember 30, 1888, 128,000.00 

Total Dividend Charges .... $473,321.67 

Balance of Income for the ten and one-half months $117,189.58 



Your Directors further report that all of the stock of the Metro- 
politan and Consolidated Roads has been exchanged for the Preferred 
Stock of the West End Street Railway Company: — 14.993 shares 
recognized as genuine stock of the South Boston out of 15,000 shares 
have also been exchanged ; and 19464 out of 19,500 shares of the 
Cambridge Road have been exchanged ; — leaving outstanding of all 
the stock only 7 shares of the South Boston and $6 shares of the 
Cambridge. 

Of the over issued stock of the South Boston Road only 359 shares 
are now outstanding. If settlement with the remaining owners is made 
upon substantially the same basis as in cases already settled, the further 
cost to the Company will not exceed $21,000.00. It will perhaps be of 
interest to stockholders to know that the American Loan and Trust Com- 
pany is our Transfer Agent, and also that under our present system the 
Accounting Department is separate and distinct from the Treasury 
Department. The Treasurer, Auditor, and Transfer Agent are there- 
fore independent officers. The accounts are now kept, also, in such a 
way as to show at the end of every month all the known liabilities of 
the Company, whether paid or unpaid, including accrued interest, rents, 
and taxes. 

The floating liabilities of the several corporations at the time of 
consolidation as shown on their books were : 

For Notes Payable $1,031,496.13 

Accounts Payable 248,899.40 

Total $1,280,395.53 



In addition to the above liabilities, there were outstanding unpaid 
bills for material, supplies, etc., amounting to $254,757.65, which under 
their method of accounting, not having been paid, had not been entered 
upon their books. JThese outstanding accounts were paid by this Com- 
pany, and increased the then assumed liabilities to that extent. 

The outstanding liabilities have also been increased during the year 
by expenditures made for account of Construction, Equipment, etc., as 
follows : 



5 

Expended for Construction, New Track and Buildings 
" " New Cars (43 Box, 61 Open) 

" " New Equipment .... 

" " Construction, Cable and Electric Roads 

" New Real Estate .... 

Total Expended for Property, 
Less Paid for from Proceeds of Common Stock 

Net Increase of Liabilities for Property Expenditures, 



$400,122.87 

92,155.00 

22,916.34 

24,93i-36 

3 40,525.84 

$880,651.41 
421,100.00 

#459.53141 



The notes payable of this Company were issued wholly for New 
Construction, Real Estate, and Equipment, a large part of which was 
inherited from the old companies, the cost of the property not having 
been capitalized. The remainder represents similar items of cost for the 
past year which it is proposed to capitalize, and the Directors recom- 
mend the issue of $1,000,000.00 of common stock for that purpose. 

The total cost of the real estate and buildings owned by the Com- 
pany is $4,032,731.75, nearly all of which is unencumbered. 

The unpleasant weather of the season has operated to reduce ma- 
terially the earnings of the road during the summer, and the high 
price of grain has added largely to the operating expenses. It is also 
fair to say that the bringing together of so many corporations at the 
beginning of the winter season occasioned some confusion at the start, 
and until the business could be brought into a system and properly 
organized, it was impossible to manage it with proper economy ; but the 
results for the first ten months of consolidation we think will be satisfac- 
tory to the stockholders. We think also that- the community generally 
are pleased with the results of the consolidation. Blockades have be- 
come infrequent ; some needed long lines have been established ; and 
the cars run under a better system than was possible under a divided 
management. Should any other system of motive power come into use, 
the advantages to the community of this consolidation will be still more 
apparent. 

Nearly one million miles more have been run by the cars during the 
past year than in the year previous. 

The repairs of the track have been at the rate of $200,000.00 for the 



year. It has been deemed wise policy to put the track in first-class condi- 
tion as leading in the long run to economical operation of the road. It is 
not expected that so large an amount as this will again need to be ex- 
pended for track repairs in any one year. The improved condition of 
the track, as well as the improved condition of the equipment, is appar- 
ent to the most casual observer. During the past year about twenty 
miles of new track have been built, and 104 new cars added to the 
equipment. 

Desiring to improve the facilities for transit, the management early 
in the winter investigated the subject of cable roads. This system is 
found to work very satisfactorily in many other large cities, and it was 
thought that it could be introduced in Boston and suburbs to advantage ; 
but developments of the electric system which were. called to the atten- 
tion of the management early in the summer, and the guarantees of 
successful operation of these roads which were given by several electric 
companies, together with subsequent investigation by a majority of the 
Board of Directors of the systems in successful operation in Richmond 
and in Allegheny City, and by the Board of Aldermen of the City of 
Boston, have induced the Directors to give the electric system a trial. 
Locations in Boston and in Brookline have been obtained, and the elec- 
tric system is now being put in, and will be in operation probably before 
the first of December. Should it work as well here as it does in other 
places, and as is confidently believed, it will go far to solve the problem 
of street transportation in a manner satisfactory to the community and 
to the stockholders of the Company. 

Your Directors take pleasure in reporting that in the labor of reor- 
ganization they have been fortunate in the selection of men in charge of 
the various departments, that the relations of the Company with its em- 
ployees are harmonious, and they believe that the work of the Company 
is being done with faithfulness and efficiency. 

♦ Respectfully submitted, 

HENRY M. WHITNEY, President, 

FOR THE BOARD OF DIRECTORS. 



TREASURER'S REPORT. 



To the Directors of the West End Street Railway Company : 

I herewith submit Statements of the business of the Company for 
the fiscal year ending September 30th, 1888. 

A. General Balance Sheet. 

B. Income Account. 

Yours respectfully, 

.J. H. GOODSP.EED, 

Treasurer. 
Boston, November 8th, 1888. 



8 



GENERAL BALANCE SHEET, 

A. 

ASSETS. 



Permanent Investments: — 
Cost of Construction 
" Horses (7684) 
" Cars (1584) . 
" Miscellaneous Equipment 
" Real Estate 



$5,019,866.60 

1,028,714.64 

1,182,517.05 

405,881.93 



4,032,731.75 
Total cost of Road, Equipment and Real Estate $11,669,711.97 



Cash Assets and Debit Balances : — 

Cash ...... 

Supplies on hand .... 

Debit Balances .... 

Total Cash Assets and Debit Balances 



$151,146.14 

I39.9CI-I5 

551,073.23 



842,120.52 



Total Assets 



$12,511,832.49 



SEPTEMBER 30th, 1888. 

A. 

LIABILITIES. 



Capital Stock: — 
Common Stock 
Preferred Stock 

Total Caoital Stock 



Funded 


Debt : 


— 


Bond' 


5 6 %, 


due in 1897 . 


<« 


6%, 


" 1898 . 


i< 


5 % 


" 1902 . 


<< 


5 % 


" 1903 ■ 


(< 


5 <£, 


" 1904 . 


n 


5 % 


" 1905 . 


u 


5 %, 


" 1907 . 



Total Bonded Debt 
Mortgage Notes .... 
Notes Payable .... 

Dividends not called for 
Coupons not presented . 
Accrued Interest and Rentals not yet due 
Unpaid Vouchers and Accounts 
Employees' Deposits 
Outstanding Tickets and Checks . 
Profit and Loss: — Income 

Surplus . 

Total Liabilities 



$421,100.00 
6,400,000.00 



$700,000.00 
100,000.00 
300,000.00 

1,100,000.00 
350,000.00 
200,000.00 
500,000.00 



$117,189.58 
261,922.57 



5,821,100.00 



3,250,000.00 
497,442.12 

1,095,559.26 
4,904.50 
4, 1 50.00 

73.843-87 
346,733.82 

31,849.82 
7,136.95 

379,112.15 
$12,511,832.49 



10 



INCOME ACCOUNT FOR THE YEAR 



DEBIT. 



12th, 1887: 



Operating Expenses from Nov 

General Expenses 
Insurance and Damages 
Repairs of Track 
Snow Expenses 
Repairs of Buildings 

" " Equipment 
Expenses for Horses 
Provender 
Stable and Car Expenses 

Taxes from Nov. 12th, 1887 
Accrued Coupon Interest from Nov. 12th, 1887 
Accrued Miscellaneous Interest " " 

Rentals of Leased Roads, paid and accrued 
Preferred Stock Dividends, " " 

Common Stock Dividend, paid July 1st, 1888, 
Balance September 30th, 1888, 



$141,917.97 

70,582.48 

175,228.06 

61,520.87 

62,033.81 

168,054.22 

181,575.69 

615,719.51 

1,871,423.21 



3,348,055.82 

133,269.22 
149,809.74 

46,270.15 

8,415.00 

452,266.67 

21,055.00 
117,189.58 

54,276,331. 18 



II 



ENDING SEPTEMBER 30th, 1888. 



CREDIT. 

Gross Earnings from Nov. 12th, 1887: — 
Passengers 
Sales of Manure 
Rent of Tracks 
Rents of Real Estate 
Advertising 
Miscellaneous . 



1.2i3.953-6i 
21,138.04 
10,042.64 

< 5,734-05 
1 1,182.19 

4,28065 



^276,331. 18 



12 



MILEAGE, ETC. 



Miles of Road owned 
Miles of Road operated 
Passengers carried . 
Miles run 
Round Trips made . 



224.648 

231.160 

84,843,072 

13.495.5 1 1 
1,860,770 



Second Annual Report 



OF THE 



West End $tot I^ilwaiJ Company, 



1889. 



SECOND ANNUAL KEPORT 



OF THE 



ESI El STREET MIL 





MI, 



FOR TIIE YEAH ENDING SEPTEMBER 30, 1889. 



BOSTON: 

R. H. BLODGETT, Printer, 30 Bromfield Street, 

1889. 



DIRECTORS AND OFFICERS. 



1888=1889. 



DIRECTORS. 



Nelson Bartlett. 
Nathaniel J. Bradlee. 
G. T. W Braman. 
Isaac T. Burr. 
Joseph S. Fay, Jr. 
Charles 0. Foster. 
Jonas H. French. 



Henry D. Hyde. 
E. D. Jordan. 
Samuel Little. 
D. F. Longstreet. 
Asa P. Potter. 
Edmund Reardon. 
Dexter N. Richards. 



Henry M. Whitney. 



Isaac T. Burr. 
Henry D. Hyde. 



EXECUTIVE COMMITTEE. 

Asa P. Potter. 
Dexter N. Richards. 
a Henry M. Whitney. 



CLERK OF CORPORATION. 

Prentiss Cummings. 



OFFICERS. 

Henry M. Whitney President. 

Prentiss Cummings Vice President. 

Frank H. Monks General Manager. 

J. H. Goodspeed Treasurer. 

C. S. Sergeant .,,.... Auditor. 



SECOND ANNUAL REPORT. 



OFFICE OF THE 

BOSTON, NOVEMBER II, 1889. 

To the Stockholders : 

Your Directors submit the following statement and report, covering 
the operations of your Railway for the year ending September 30, 1889. 

Gross Earnings $5,249,902.62 

An increase of $362,165.00. 
Operating Expenses, (78.08 per cent.) . . . 4,099,037.00 

An increase of $156,975.98. 

Net Earnings ■ $1,150,865.62 

An increase of $205,189.02. 

The above comparisons are made with results of the 
preceding twelve months, of which ten and one 
half months covered operations of this company. 

Fixed Charges were as follows : 

Taxes $167,560.63 



Rent of Leased Roads 
Coupon Interest 
Miscellaneous Interest 

Total fixed charges 



14,420.80 
170,500.00 

58>975-io 

411,456.53 



Balance Available for Dividends , $739,409.09 



Against which the Dividend Charges were as follows : 
8 per cent. Dividend on Preferred Stock $512,000.00 
5 per cent. Dividend on Common Stock, 

Jan. 1, 27,200.00 

5 per cent. Dividend on Common Stock, 

July 1, , 75,000.00 

Total Dividend Charges . . . $614,200.00 

Balance of Net Income carried to Surplus account . $125,209.09 

It will be remembered that twice during the ast year the stockhold- 
ers voted to increase the capital stock. At the time of making the first 
application to the Railroad Commissioners, it was suggested by them 
that inasmuch as no complete inventory was made at the time of consol- 
idation, an inventory and valuation of the whole property of the Com- 
pany should be made. Competent and conservative experts were em- 
ployed, and a careful estimate of the property of the Company was made 
in great detail. The results thus ascertained necessitated changes in the 
subdivision of the property accounts of the Company to conform to the 
new valuation, as is shown in the detailed statament accompanying 
this report. 

These changes resulted in a nominal increase of the surplus, against 
which has been charged the cost to this Company of the construction of 
the conduit, and other construction expenditures, properly subjects of 
capitalization, together with the cost of widening Beacon Street and Bea- 
con Street Bridge, and the value of buildings torn down during the year. 

The work of repairing the car equipment and tracks of the Company 
has been diligently prosecuted during the year, and at an expense con- 
siderably in advance of the amount expended during the previous year. 
The track construction has been very thorough and of a character which 
will tend ultimately to reduce the cost of keeping the track in repair, 
and is, furthermore, made necessary by the use of electric cars, 



Nearly all the box cars received from the old companies have now 
been through the shop and have been given a very thorough overhaul- 
ing, and the whole equipment of the Company is now first-class in every 
respect, very much better than it was at the time of the consolidation. 

The work of the Company for the last year has been a very important 
one, inasmuch as since the last annual meeting, the electric lines, then 
under construction, have been opened for service. 

This, we believe, marks a new era in transportation service of the 
road, and will shortly entirely revolutionize the whole business. The 
Directors are happy to state that the reasons for giving the electric sys- 
tem a trial have been fully justified by their experience in the operation 
of the electric lines up to this time. 

The Brookline line was opened with conduit the ist day of January, 
and the Cambridge overhead line, the 16th of February. The overhead 
lines have proved very satisfactory, but the conduit work was unsatis- 
factory, and after several months' trial was abandoned. 

Since the first of November the Company has been operating 
all the electric cars that it is now running, namely, the Brookline, 
Brighton, Cambridge and Arlington lines, from its Power House located 
at Allston. 

These lines have been running to the great satisfaction of the public, 
and your Directors have, with the permission of the several municipal 
governments, entered upon the general plan of introducing electricity 
throughout the whole system. They have made a purchase of real estate 
between Harrison Avenue and Albany Street, which is especially well 
located for the purpose of a central power station, and have contracted 
for 2000 horse power in engines and boilers, and are building a wharf, 
and putting in the necessary foundations for machinery. The distance 
from this Central Station to any point in Dorchester or Roxbury to which 
the horse cars are now running is less than the distance from the Allston 
power station to Arlington. 

The lines from the Northern Depots through Tremont Street and 



Shawmut Avenue to Grove Hail and Eggleston Square will be run by 
electricity within a very few days, the power for operating the same 
being taken from the Central power station. Additional cars from 
Cambridge to Bowdoin and Park Squares will also be added within a 
very short time. 

Full details of the financial condition of the Company and of its 
operations during the year, will be found in the accompanying reports 
of the Treasurer and Auditor. 

Respectfully submitted, 

HENRY M. WHITNEY, President, 

FOR THE BOARD OF DIRECTORS. 



TREASURER'S REPORT. 



To the President and Directors of the West E?id Street Railway Company : 

I herewith submit Statements of the business of the Company for 
the fiscal year ending September 30th, 1889. 

A. General Balance Sheet. 

B. Income Account. 

C. Inventory of Equipment, etc 

Yours respectfully, 

J. H. GOODSPEED, 

Treasurer. 
Boston, November 8th, 1889. 



8 



GENERAL BALANCE SHEET, 



PERMANENT INVESTMENTS. 



Construction of Road 

Real Estate 

General Equipment 

Horses (7,728) 

Cars (1,796) 

Construction Electric Road 

Electric Motor Cars (47) 



$4,679,095.50 

4,843,37264 

388,587.81 

1,035,552.00 

1,401,323.41 

412,600.99 

150,073.64 



Total cost of Road, Equipment and Real Estate $12,910,605.99 



CASH ASSETS AND ACCOUNTS. 



Cash ...... 

Material and Supplies 
Accounts Receivable . 
Maiden and Melrose Railroad Co. 
Somerville Horse Railroad Co. . 
Furniture and Fixtures 
Lawrence Land .... 

Insurance, present value 

Total Cash Assets and Accounts 



$180,851.29 

244,193.34 

132,98038 

214,519.83 

81,633.61 

39,178.24 

105,77745 
19,716.67 



$1,018,850.81 



TOTAL ASSETS 



$13,929,456.80 



A. 



SEPTEMBER 30th, 1889. 





CAPITAL 


STOCK. 


Common Stock . 




. $1,500,000.00 


Preferred Stock . 


• 


6,400,000.00 


Total Capital Stock . 


. $7,900,000.00 




FUNDED DEBT. 


Bonds 6 %, due in 


)8 97 . 


$700,000.00 


" 6 % 


1898 




100,000.00 


" 5 %, 


1902 




300,000.00 


" 5 %, 


1903 




1,100,000.00 


" 5 % 


1904 




350,000.00 


" 5 %, " 


1905 . 




200,000 OO 


" 5 %, " 


1907 




500,000.00 


Mortgage Notes 


• 




497,442.12 


Total Funded Debt 




3,747,442.12 




NOTES AND 


ACCOUNTS. 


Notes Payable 


. # 


, 


. $1,183,748.26 



Dividends not called for . . 5,071.50 
Accrued Preferred Dividend to Sept. 

30, 1889 128,000.00 

Coupons not presented . . . 24,022.50 
Accrued Interest and Rentals not yet 

due 44,783.34 

Unpaid Vouchers and Accounts . 551,154.44 

Outstanding Tickets and Checks . 7^97- l 7 

Total Notes and Accounts 



Surplus, 



profit and loss. 



TOTAL LIABILITIES 



1,944,177.21 

337,837.47 
$13,929,456.80 



10 



B. 



INCOME ACCOUNT FOR THE YEAR. 



DEBIT. 



Operating Expenses 

General Expenses 

Maintenance of Track 

Maintenance of Buildings . 
" of Cars . 

" of Horse equipment 

" of Tools and Machinery 

Provender . 

Transportation Expenses 

Taxes .... 
Coupon Interest . 
Miscellaneous Interest 
Rentals of Leased Roads 
Preferred Stock Dividends 
Common Stock Dividends 

Balance carried to Surplus Account 



$4,099,037.00 



$402,719.17 

244,061.98 

66,298.99 

259.637-5I 
310,477.71 

7,873.60 

588,772.71 

2,219,195.33 



167,560.63 

170,500.00 

58,975.10 

14,420.80 

512,000.00 

102,200.00 

125,209.09 

$5,249,902.62 



II 



B, 



ENDING SEPTEMBER 30th, 1889. 



CREDIT. 



Gross Earnings. 
Passengers . 
Sales of Manure . 
Rent of Tracks . 
Rents of Real Estate 
Advertising 
Miscellaneous 



1,171,975.01 
20,152.63 
12,384.16 
17,653.02 
13,854.20 
13,883.60 



5,249,902.62 



Total Income 



i ' > 



. #5,249,902.62 



12 



c. 



Box Cars ..... 


913 


" Electric 


43 


Open Cars ..... 


881 


" Electric 


4 


Horses 


7,728 


Miles Road owned 


236.58 


" " leased 


16.62 


Total Miles operated 


253.20 


Miles run during the year 


i6,573,83i 


Passengers carried 


104,243,150 


Round trips run .... 


2,205,359 



AUDITOR'S BEPOfiT 



FOR THE 



YEAR ENDING SEPTEMBER 30, 1889. 



Boston, Nov. i, 1889. 

To the President and Directors of the West End Street Railway Co. 

Gentlemen: — The following report of the operations of the West 
End Street Railway Company for the fiscal year ending September 30, 
1889, is respectfully submitted : 

MILEAGE OF TRACK. 

The miles of track operated at close of the previous year 
were found, after re-measurement by the Company's 
engineers, to be . . . . . . . 247.45 miles. 

There have been added by new construction 

during the year .... 6. 18 miles. 

Less track taken up during year . . o 43 " 

Net increase of track .... 
Making total operated Sept. 30, 1889 



5 75 


253.20 
16.62 



Of this, the track leased from other Companies is 

Total track owned ..... 236.58 miles. 

EARNINGS AND EXPENSES BY CLASSES 
For the Year ending Sept. 30, 1889. 

Gross Earnings. 

From Passengers 



Rent of Tracks 
Sales of Manure 
Rent of Real Estate 
Advertising 
Miscellaneous Income 
Total 



,171,975.01 
12,384.16 
20,152.63 
17,653.02 
13,854.20 
13,883.60 

$5,249,902.62 



i6 



Gross Earnings brought forward, . 

Operating Expenses. 

For General Expenses . . . $402,719.17 
Maintenance of Track . . 244,061.98 
Maintenance of Buildings . 66,298.99 

Maintenance of Cars and Vehicles 259,637.51 
Maintenance of Tools and Machinery 7,873.60 
Maintenance of Horse Equipment 310,477.71 
Transportation Expenses . . 2,807,968.04 

Total 

Net Earnings . . . 



;, 249.902.62 



4,099,037.00 
$1,150,865.62 



PASSENGER TRAFFIC AND EARNINGS. 



Comparisons are made with the preceding 
ing about one and one-half months of the 
Companies now consolidated with the West 

Round Trips run 

An increase of . 
Revenue Miles run . 

An increase of . 
Revenue Passengers carried 

An increase of . 
Passenger Receipts . 

An increase of . 
Average number of Passengers per mile 

Previous year . 

An increase of . 

Average receipts per mile 

An increase of . 
Average Receipts per Passenger 

An increase of . 



twelve months, thus includ- 
operations of the several 
End Co. : 

2,205,359 

76,440 or 3. 59 per ct. 

16,573.831 
1,142,073 or 7.40 per ct. 

(04,243,150 

7,203,231 or 7.42 per ct. 

5,171,975.01 

355,633.24 or 7.38 per ct. 

6.290 

6.288 

0.002 

31.2 cents. 

0.1 
4.961 
0.012 " 



MISCELLANEOUS INCOME. 



Rent of Tracks 



Sales of Manure 
Rent of Real Estate 
Advertising 
Miscellaneous Income 



$12,384.16 
20,152.63 
17,653.02 
13,854.20 
13,883.60 



Total ... . $77,927.61 

An increase of . . . . . 6,531.76 or 9.15 per ct. 

GROSS EARNINGS FROM ALL SOURCES 

For the year were ..... $5,249,902.62 

An increase of . .... 362,165.00 or 7.41 per ct. 

* 

OPERATING MILEAGE. 

Mileage of Electric Cars, Cambridge Division, is as follows : 

Motor Cars 189,108 

Towed Cars 188,936 

Total .... 378,044 

Mileage of Electric Cars on Ninth Division (Allston 
and Brookline) for July, August and September: 

Motor Cars, ..... 130,379 

Towed Cars 16,943 

Total 147,322 

Total Electric Mileage in Operating account . ; . 525,366 

Miles run by horse cars .. . . . . . . 16,048,465 

Total Car Mileage 16,573,831 



i8 



OPERATING EXPENSES 



For the year were . , 

An increase of . 

Expenses per mile were . 
Previous year were . 
A decrease of . 



$4,099,037.00 

156,975.98 or 3.98 per cent. 
24.73 cents 
25.54 cents 
0.81 cents, which is equiv- 



alent to $134,248.03 upon the mileage of the year. 

The operations of the preceding year cover the work of other Com- 
panies, and a comparison of expenses by classes is therefore useless if 
not impossible, owing to difference of methods and of the accounts 
subdividing expenses. 

The expenses for the year in the several departments are as follows : 



Salaries, Office and General Expenses, . 
Legal Expenses, Injuries and Damages, 
Insurance, ....... 

Rents, ........ 

Total General Expenses, 

Maintenance of Track, ..... 
Removing snow and ice, .... 

Total Maintenance of Track, 

Maintenance of Buildings .... 

Maintenance of Cars and Vehicles 

Maintenance of Tools and Machinery, Mechanical Dep't 

MAINTENANCE OF HORSE EQUIPMENT. 

Renewal of Horses ....... 

Horse Shoeing and Veterinary Expense . 

Repairs of Harness ....... 

Total. ...... 

Total Maintenance of Equipment 



$187,940.50 
156,536.96 

35,753-Si 
22,487.90 



$,719.17 

234,789.26 
9,272.72 

$244,061.98 

66,298.99 

259, 6 37-5i 
7,873.60 

143,354-59 
134,666.05 

32,457-07 
$310,477.71 

$577,988.82 



19 



TRANSPORTATION EXPENSES. 



Superintendence and General Expense of Transportation $188,042.16 

Stable Service, . . . . . • . . 464,876.44 

Stable and Station Supplies and Expenses, . ' . . 93,300.54 

Car Service and Expense, ...... 1,441,374.31 

Provender 588,772.71 

Electric Motive Power, including maintenance of motors 

and line ......... 31,601.88 

Total $2,807,968.04 

SUMMARY OF THE ABOVE EXPENSES BY CLASSES. Per mile 

(cents) 

General Expenses ...... $402,719.17 2429 

Maintenance of Track ..... 244,061.98 1472 

Maintenance of Buildings .... 66,298.99 0.400 

Maintenance of Cars and Vehicles . . . 259,637.51 ) 

y 1. 614 

Maintenance of Tools and Machinery . . 7,873.60 ) 

Maintenance of Horse Equipment . . . 310,477.71 1.873 

Transportation Expenses ..... 2,807,968.04 16.942 



Total Operating Expenses . $4,099,037.00 24.730 
CONSTRUCTION ACCOUNT. 

TRACK. 

This account has been charged during the year with the cost of con- 
struction of 6. 1817 miles of new track, with engineering and other 
general expenses of construction, and with the estimated difference in 
value between the heavy girder rails laid upon 19.9 miles of track rebuilt 
for use of electric cars and the light rail removed, the total charge to 
track account being $292,876.00 

This account has been credited with track 

taken up $5,720.50 



20 

And with amounts written off to correct 

accounts to conform to valuations made 

for the Railroad Commissioners . . $602,99524 $608,715.74 
Net reduction of Construction account Track $3 1 5,839.74 

Real Estate. 

This account has been charged for correction of valuation 

as made for Railroad Commissioners .... 903,323.86 

For land purchased during year ..... 102,590.72 

For cost of new buildings constructed during year . . 105,999.76 

In all $1,1 1 1,914.34 

Credits have been made for land sold, and for buildings 

torn down or sold ....... 195,49600 

Net addition for the year . . . $916,418.34 



EQUIPMENT ACCOUNT — CARS. 

Charges. 

Correction of account to conform to Inventory filed with 

Railroad Commissioners ...... $17,332.95 

233 Cars added to equipment ...... 221,823.41 

Total Charges $239,156.36 

Credits. 

20 Box Horse Cars changed to Electric 
Cars, and therefore transferred to Elec- 
tric Cars account .... $20,000.00 
1 Box Car sold . 3 50.00 

Total Credits . . . 20,350.00 

Net increase of Cars account for the year $218,806.36 



21 



EQUIPMENT ACCOUNT— HORSES. 

Charges. 

Correction of account to conform to valuation filed with 

Railroad Commissioners . . . . . $941.36 

Charge Sept. 30, 1889, for increase in number of Horses 

during year — 45, @ $134 6,030.00 

Total Charges ..... $6,971.36 

Credits. 
1 Horse charged off, having been erroneously included in 

original inventory . . ... . . . 134.00 

Net Increase of Horse account . . $6,837.36 



Note. — The depreciation of Horse equipment charged Operating 
Expenses during year was $146,515.75; less sundry credits, $3,161.16, leav- 
ing net charge to Expenses for this account, $143,354-59. 



GENERAL EQUIPMENT ACCOUNT. 
Charges. 
Snow Equipment — 2 Electric Sweepers, 1 Track Sweep- 
er, 1 Electric Ice Chipper, and 2 Snow Plows 
Vehicles — 95 Snow Sleds, 1 Lumber Wagon, 1 Tower 
Wagon, 10 Wagons, 6 Buggies, 3 Sleighs, 27 Carts, 21 

Pungs, 5 Jiggers 

New Harness added during year ..... 
Machinery, tools and miscellaneous new equipment 

Total Charges ..... 



Credits. 

Correction of account to conform to inven- 
tory filed with Railroad Commissioners 
Carried forward, , 



$46,785-86 
46,785.86 



5,716.04 



14,049.13 

3,916.08 

33.07942 

$59,760.67 



59,760.67 



22 



Brought forward , $46,785.86 $59,760.67 

Equipment sold ..... 853.95 

Depreciation charged off . . . . 29,415.00 

Total Credi s . . .. 77,054.79 

Net Decrease of account for the year $17,294.12 



CONSTRUCTION OF ELECTRIC ROADS. 

Charges to Sept. 30, 1889. 

Line Construction: 

Cost of lines on Ninth Division and of the Cambridge 
line, Arlington to Bowdoin Square, comprising 
14.060 miles double track, 3.175 miles single track, 
in all equal to 31.295 miles single track . . $146,546.70 
Cost of incomplete work on lines under construction, 
which includes the labor-cost of setting 1,678 
poles, $6,293.93 ; cost of cement, stone and other 
materials, and expenses of setting ; also purchase 

of 1,655 Poles, $40, 565.45 46,859.38 

Total $193,406.08 

Power Stations. 

Cost of Allston Power Station, land, buildings, chim- 
ney and equipment, which includes 6 Tubular 
Boilers, 6x 17 ft., 4 Armington & Sims' 200-H. P. 
Engines, 8 Edison Generators of 80,000 watts 
capacity, and Switch Boards, Instruments, Wiring 
and general equipment of Station $116,426.65 
Central Power Station, amount thus 
far expended in construction and 
equipment ..... 40,149.20 

Total .... '5 6 '575-85 

Carried forward ........ $349 , 9^ , -93 



23 

Brought forzuard ........ $349,981.93 

.Electric Car Houses and Shops ..... 16,332.32 

Engineering and General Expenses of Electric Con- 
struction . ... . . . . . 46,286.74 

Electric Cars ... ..... 150,073.64 

Cost of 47 Cars, fitted with electric motor trucks, being 
cost of new cars and value of horse cars altered 
to electric cars, together with cost of motors, 
trollies, rheostats, and other equipment of electric 
cars. 



Total cost of Construction . . . $562,674.63 

C. S. SERGEANT, 

Auditor. 






Third Annual Report 



OF THE 



tfegt End jSfteet Railway Compaq^. 



1890. 



THIRD ANNUAL REPORT 



OF THE 



IBS? END STREET RAILWAY COMPANY 



FOR THE YEAR ENDING SEPTEMBER 30, 1890. 



BOSTON: 

R. H. BLODGETT, Printer, 30 Bromfield Street, 

1890. 



DIRECTORS AND OFFICERS. 



1889-1890. 



Nelson Baetlett. 
Elisha S. Converse. 
G. T. W. Beaman. 
Isaac T. Burr. 
Joseph S. Fay, Jr. 
Eustace C. Fitz. 
Charles O. Foster. 



DIRECTORS. 
Henry M. Whitney. 



Jonas H. French. 
Henry D. Hyde. 
E. D. Jordan. 
Samuel Little. 
Asa P. Potter. 
Edmund Reardon. 
Dexter N. Richards. 



EXECUTIVE COMMITTEE. 
Henry M. Whitney. 



Edmund Reardon. 
Henry D. Hyde. 



Asa P. Potter. 
Dexter N". Richards. 



CLERK OF CORPORATION. 
Prentiss Cummings. 



OFFICERS. 



Henky M. Whitney, 
Edmund Reardon, 
Frank H. Monks, 
J. H. Goodspeed, . 
C. S. Sergeant, 



President. 
Vice-President. 
General Manager. 
Treasurer. 
Auditor. 



THIRD ANNUAL REPORT. 



OFFICE OF THE 



Boston, November 13, 1890. 
To the Stockholders : 

Your Directors submit the following statement and report, covering 
the operations of your Railway for the year ending September 30, 1890: 

Gross Earnings, $5,780,082.57 

An increase of $530,179.95. 
Operating Expenses (73.25 per cent.) . . . 4,234,040.92 

An increase of $135,003.92. 

Net Earnings, $1,546,041.65 

An increase of $395,176.03. 

The above comparisons are made with results of the 
preceding year. 

Fixed Charges were as follows : 

Taxes, $222,377.80 

Rent of Leased Roads, . . . 11,950.03 

Coupon Interest, ..... 170,500.00 

Miscellaneous Interest, . . . 74,003.46 



Total fixed charges, . . 478,831.29 

Balance, 1,067,210.36 

Less amount expended for track reconstruction, 282,197.90 

Balance available for dividends, . . $785,012.46 



Against which the Dividend Charges were as follows : 
8 per cent. Dividend on Preferred Stock, $512,000.00 
5 per cent. Dividend on Common Stock, 

Jan. 1, 100,000.00 

5 per cent. Dividend on Common Stock, 

July 1, 125,000.00 



Total Dividend Charges, ... . . $737,000.00 



Balance of Net Income carried to Surplus account, $48,012.46 

Early in the year the Directors became satisfied that the electric 
system had passed the experimental stage, and decided to take the neces- 
sary steps to introduce this system as rapidly as possible over the lines 
operated by the West End Street Railway Co. 

It was decided to be for the interest of the Company to put in a 
large amount of power to provide for winter contingencies and for special 
occasions, and to build upon a scale which would in all probability meet 
the demands for some time to come. 

The work of building the power houses and providing the power has 
been diligently prosecuted during the past year at large expense, from 
which, owing to the usual delays incidental to undertakings of this kind, 
the Company is not yet receiving the benefit. 

Although we are now hiring power from the Cambridge Electric 
Light Company and the Edison Electric Light Company, yet the opera- 
tion of the cars has at times been attended with embarrassment from 
want of sufficient power. We hope during the coming year this trouble 
will all be remedied by the completion of the power plants. 

Experience has shown that wherever the electric lines have been 
installed, travel has enormously increased ; and indeed, travel all over 
the line increases so rapidly that it is well-nigh impossible for the Com- 
pany to keep pace with the demands upon it. 

During the past year we have added to our equipment 46 box cars 



5 

and 144 open cars, and have contracted for 150 long box cars, seating 
34 people each, to take the place of the short electric cars, seating 22 
people each. These cars are all to be delivered before the first of Feb- 
ruary, and, when once upon the road, will relieve the situation to some 
extent. 

The business of the Company has increased during the past year to 
an extent unprecedented in the history of the street railways incor- 
porated in the West End system. The average increase of passengers 
per day for the whole year was about 30,000 over the previous year ; 
but, large as it was, the business since the first of October has increased 
in still larger proportion. The number of passengers transported by the 
street railways in 1880 was about 160,000 people per day; it is now 
nearly 360,000 people per day, and your Directors see no reason why it 
will not continue to increase in the future as rapidly, or even more rapidly 
than it has in the past. 

Higher rates of speed, larger and more comfortable cars, with more 
frequent trips ; in short, increased facilities for travel, mean an ever-in- 
creasing business. Realizing this, and realizing that the streets in the 
down-town section of the city are already so crowded that passage 
through them is attended with delays tedious and annoying to passen- 
gers and expensive to the Company, and that if it is not already, in a 
very short time it will be, physically impossible to bring any more cars 
into the crowded streets north of Eliot Street, your Directors decided at 
last session of the Legislature to present a petition for an elevated rail- 
road. They made an application, and have received a charter. They 
have proposed a route which seems to them the most feasible, both in 
the interest of the Company and the interest of the City, and they have 
proposed to the City to join with them in opening a street over a por- 
tion of the route, which subject is now before the city government for 
consideration. Your Directors feel that the increasing demands for 
transportation can be met in no other way than by an elevated railroad. 

If travel should increase within the next three years as it has dur- 



ing the last fiscal year, and is now increasing, provision must be made 
for a large increase of the means of transportation. 

The increased earnings due to this increased traffic, together with 
the saving of time and other economies in the electric system, fairly 
justify the Company in undertaking to build an elevated railroad. 

About one-third of the system is now equipped with the girder rail, 
and it is the intention of the Company to rebuild its tracks on this sys- 
tem as rapidly as the earnings of the road will permit. 

Full details of the financial condition of the Company and of its 
operations during the year, will be found in the accompanying reports 
of the Treasurer and Auditor. 

Respectfully submitted. 

HENRY M. WHITNEY, President, 

FOR THE BOARD OF DIRECTORS. 



TREASURER'S REPORT. 



To the President and Directors of the West End Street Railway Company : 

I herewith submit Statements of the business of the Company for 
the fiscal year ending September 30th, 1890. 

A. General Balance Sheet. 

B. Income Account. 

C. Inventory of Equipment, etc. 

Yours respectfully, 

J. H. GOODSPEED, 

Treasurer. 
Boston, November nth, 1890. 



A. 



GENERAL BALANCE SHEET, 



PERMANENT INVESTMENTS. 



Construction, ..... 
Real Estate, . . . . 
General Equipment, 
Horses (6,927) .... 
Cars (1,694, including 169 tow cars), 
Electric Cars (337) 
Electric Line Equipment, 
Power Station Equipment, 



S5.309.I73.09 

5.796,547-53 
423,160.52 

928,218.00 

1.310,977.42 

1,192,048.22 

436,643.34 

293.938-56 



Total Cost of Road, Equipment and Real Estate, $15,690,706.68 



CASH ASSETS AND ACCOUNTS. 



Cash, . . - . 
Material and Supplies, . 
Accounts Receivable, . 
Maiden and Melrose Railroad Co., 
Somerville Horse Railroad Co., 
Furniture and. Fixtures, 
Lawrence Land (Beacon St.), 
Stocks and Bonds, 
Insurance, present value, 
Subscribers to Capital Stock, 

Total Cash Assets and Accounts, 



#656,378.21 

368,921.11 

259,982.88 

214,519.83 

81,633.61 - 

34.37S.24 

io5,777-45 
75,100.00 

40,411.72 

2,008,850.00 



3,845,953.05 



TOTAL ASSETS, 



#19.536,659.73 



SEPTEMBER 30th, 1890. 



CAPITAL STOCK. 



Common Stock, 
Preferred Stock, 
Total Capital Stock, 

Capital Stock Subscriptions, 



53,491,150.00 

6,400,000.00 



FUNDED DEBT. 



Bonds 6 %, due in 1897, 



" 6 %, 


it 


1898, 


" 5 % 


a 


1902, 


" 5 %, 


a 


I9°3. 


" 5 %, 


a 


1904, 


" 5 % 


u 


1905, 


" 5 %. 


a 


1907, 


Mortgage Notes, 




rAL Funded 


Debt, 



$700,000.00 

100,000.00 

300,000.00 

1,100,00000 

350,000.00 
200,000.00 
500,000.00 
784,442.12 



NOTES AND ACCOUNTS. 

Notes Payable, .... 

Dividends not called for, 

Accrued Preferred Dividend to Sept. 

30, 1890, .... 

Coupons not presented, 
Accrued Interest and Rentals not 

yet clue, ..... 
Unpaid Vouchers and Accounts, . 
Outstanding Tickets and Checks, 

Total Notes and Accounts, . 



$2,403,748.26 
8,136.50 

128,000.00 
21,067.50 

44,783.34 

632,277.20 

8,646.53 



Surplus, 



PROFIT AND LOSS. 



TOTAL LIABILITIES, 



19,891, 150.00 
2,008,850.00 



4,034,442.12 



3,246,659.33 

355,558.2 8 
$19,536,659.73 



10 



B. 



INCOME ACCOUNT FOR THE YEAR 



DEBIT. 

Operating Expenses, . 

Taxes 

Coupon Interest, . 
Miscellaneous Interest, 
Rentals of Leased Roads, 
Track Reconstruction, 
Preferred Stock Dividends, 
Common Stock Dividends, 
Balance carried to Surplus Account, 



l, 2 3 4,040. 92 

222,377.80 

170,500.00 

74,003.46 

1 1,950.03 

282,197.90 

512,000.00 

225,000.00 

48,012.46 









;,78o,o82.57 



It 



ENDING SEPTEMBER 30th, 1890. 



CREDIT. 



Gross Earnings, . 
Passengers, 
Sales of Manure, 
Rent of Tracks, 
Rents of Real Estate, 
Advertising, 
Miscellaneous, . 



1,678,390.07 
12,986.35 
17,241.84 
20,382.35 
27,209.00 
23,872.96 



1,780,082.57 



\ 



;,78o,o82.57 



12 



c. 



EQUIPMENT, ETC. 

Box Cars, . . , . . 

" Electric, 

Open Cars, ..... 

" Electric, . 

Horses, ...... 

Miles Track owned, 

" " leased, 

" " used conjointly, . 

Total Miles operated, 
Miles of Track completely equipped with 

electric overhead system, 
Miles of Track partially equipped, . 

" of Feeder Lines, , 

Miles run during the year, 

Passengers carried, 

Round trips run, .... 



838 
164 
856 

173 
6,927 

239 450 

16.620 

.717 

256.787 

65.46 
27.60 
74.19 

17,665,360 

r 14,853,081 

2,344.570 



AUDITOR'S KEPORT 



FOR THE 



YEAR ENDING SEPTEMBER 30, 1890. 



Boston, Nov. i, 1890. 

To the President and Directors of the West End Street Railway Co. : 

Gentlemen, — The following report of the operations of the West 

End Street Railway Company for the fiscal year ending September 30. 

1890, is respectfully submitted: 

C. S. Sergeant, Auditor. 



EARNINGS AND EXPENSES. 



Gross Earnings. 
From Passengers, . 
Rent of Tracks, . 
Sales of Manure, 
Rent of Real Estate 
Advertising, 
Miscellaneous Income, 

Total, 

Operating Expenses. 

For General Expenses Q&™%), 
Maintenance of Track, . 
Maintenance of Buildings, . . 
Maintenance of Cars& Vehicles 
Maintenance of Horse Equip't 
Road and Snow Expense, . 
Transportation Expenses, . 

Total 



Increase over previous year. 

),678,39°-°7 ^506,415. 06 = 09.77 % 

12,986.35 602.19 = 04.86 " 

17,241.84 Dec. 2,910.79 = 14.44 " 

20,382.35 2,729.33 = 15.46 " 

27,209.00 13,354.80 = 96.32 " 

23,872.96 9>9 8 9-3 6 = 7J-95 " 



55,780,082.57 




$53o,i79-95 = IO -°9 " 


$481,408.26 


Inc. 


$78,689.09 = 19.54 % 


249,372.07 


Inc. 


55> I 55- 12 = 28.49 " 


48,153-39 


Dec. 


18,145.60 = 27.37 " 


199,377-93 


Dec. 


68,133.18 = 25.46 " 


255,421.34 


Dec. 


55,o5 6 -37 = !7-73 " 


80,472.36 


Inc. 


30,627.33 = 61.44 " 


2,9 I 9> 8 35-57 


Inc. 


111,867.53 = 3.98 " 



(.,234,040.92 



Net Earnings, $1,546,041.65 



Inc. $135,003.92 
Inc. $395,176.03 



= 3.29 

= 34-33 



From which deduct Charges as 
follows : 

Taxes, 

Rent of Leased Roads, 
Coupon Interest, .... 
Miscellaneous Interest, 

Total Charges, 

Bal. carried to Income Acc't, . 
To which refer for charges to 
dividends. 



222,377.80 Inc. 

11,950.03 Dec. 
170,500.00 

74,003.46 Inc. 

8,831.29 Inc. 



54,817.17 = 32.71 " 
2,470.77 = 17.13 " 



15,028.36 = 25.48 " 



67,374.76 = 16.37 " 

$1,067,210.36 Inc. $327,801.27 = 44.33 " 
track reconstruction, $282,197.90, and for 



i6 



MILEAGE OF TRACK. 

Changes during the year have been as follows : 

Total track owned Sept. 30 4 1889, .... 
Additions for extensions during the year, 

Total, ........ 

Reductions for tracks taken up during the year, 

Net length of track owned Sept. 30, 1890, 
Operated under leases, ' . . . . . 
" under trackage privileges, 

Total track operated Sept. 30, 1890, 

which is made up as follows : 



236.58 

4.42 


miles 


241.00 
i-55 


(1 


239-45 
16.62 


miles 



.717 
256.787 



Leng 


th 


of Main Line, 


149.897 miles. 


it 




of second track, . 


84.80 


<( 




of sidings, car-house curves, 








cross-overs, etc., 


6.97 


(i 




of track in car houses and 








yards, 


15.12 " 



Total, 

The total length of track unpaved is 



2S6.787 
10.46 



PASSENGER TRAFFIC STATISTICS 
Are as follows compared with the previous year : 



Round Trips run, . 

An increase of 
Revenue Miles run, 

An increase of 
Revenue Passengers carried, 

An increase of 



2,344.570 

139,211 or 6.31 per cent. 
17,665,360 

1,091,529 or 6.52 per cent. 
114,853,081 
10,609,931 or 10.18 per cent. 



i7 

Passenger Receipts, . . . #5,678,390.07 

. An increase of . . . 506,415.06 or 9.77 per cent. 

Average Receipts per Passenger, . 4-944 cents. 

A decrease of . . 0.017 " 
Average expenses per Passenger, 

including Taxes and Interest 

account, . . . . 4.103 " 



MILEAGE OF ELECTRIC CARS AND HORSE CARS, 

The length of tracks fully equipped with the electric overhead single 
trolley system was, on Sept. 30, 65.46 miles. The revenue miles run 
during the year were as follows : 

Double Motor Electric Cars, . . 2,423,967 

Single " «* . 345704 

Cars towed by " " . 542,072 



Total Mileage of Electric Cars, . 3,31 1,743 = i8-75 per ct. 

Mileage of Horse Cars, . . . 14,353,617= 81.25 " 

Total 17,665,360 = 100.00 per ct. 



RECONSTRUCTION OF TRACKS. 

The expenditures contemplated at the beginning of the year on 
account of reconstruction of tracks by the substitution of a heavy girder 
rail for the light tram rail construction formerly used, were so far in ex- 
cess of the normal requirements of the track repair account that it was 
deemed wise to treat these expenditures under a separate account. 

The length of tracks thus rebuilt during the year amounts to 35.9 
miles, the rail mainly used being a girder rail with tram, weighing 



i8 

J2\ pounds to the yard. The total cost of this work 

has been #551,447.90 

which has been provided for as follows: 

Charged to construction account for betterment of 
tracks as per permission granted by the Railroad 
Commissioners as a part of the expenditures necessary 
for the equipment of the road with electric power, 
35.9 miles at #7,500 per mile #269,250.00 

Balance charged against Income of this year . #282,197.90 
The total length of track constructed with girder rail 
to Sept. 30, 1890, is 70.85 miles. 

CONSTRUCTION ACCOUNT. 

This account has been charged during the year with the 
cost of construction of 4.42 miles of new tracks, with 
engineering and other general expenses of construc- 
tion, electric construction and elevated railroad con- 
struction, including interest on construction debt, and 
with the estimated difference in value between the 
heavy girder rails laid upon 35.9 miles of track rebuilt 
for use of electric cars, the total charge being . . #610,140.84 
Credit has been given for 1.55 miles of tracks taken up 26,349.99 

Net increase of this account for the year . . #583,790.85 

REAL ESTATE ACCOUNT. 
Charges. 

Sundry purchases of property for Power Houses, Car 

Stations, etc., #420,020.01 

Expended upon construction of Central Power Station, . 369,578.74 

of Allston Power Station, . 3>3° 2 -4 I 
of East Cambridge Power 

Station 64,319.56 



'9 

New Car Houses, and additions to existing Car Houses 

to adapt them to use of Electric Cars, . . . 119,684.64 

Total Charges, ...... $976,905.36 

Credits. 

Received from sundry sales of Real Estate, . . . $72,847.78 

Value of Beacon Street Stable burned, not rebuilt, . 6,956.00 
Value of Grove Hall buildings removed to make room for 

new Car House, ....... 13,647.90 

Total Credits, ...... $93,451.68 

Net addition to Real Estate for the year, . . . $883,453.68 

EQUIPMENT ACCOUNT— HORSES. 

No charges have been made during the year. 
Credit has been given for decrease in number of horses 

owned. 801 horses at $134, $107,334.00 

which amount, together with the net cost of horse 
renewals, has been charged to Operating Expenses, 
the total charge on this account being $143,924.46. 

EQUIPMENT ACCOUNT. 

horse cars. 

Charges. 
15 box cars and 14 open cars added to equipment . . $18,679.01 

Credits. 
88 box cars and 38 open cars converted to electric cars 

and transferred to that account . . 107,000.00 

1 open car sold and 2 box cars destroyed 2,025.00 

Total Credits . . $109,025.00 

Net reduction of Horse Cars account . $90,345-99 



20 



EQUIPMENT ACCOUNT. 

ELECTRIC CARS. 

This account has been charged with value of 88 box cars 
and 38 open cars transferred from horse car equip- 
ment ......... 

Also with cost of 131 new open electric motor cars, and 
33 new box electric motor cars, together with all motor 
and electric equipments for the same and for horse 
cars converted to electric cars, also cost of drawbar 
equipments and alterations of 119 horse cars to serve 
as tow cars ........ 

Net charge to this account for the year 



$107,000.00 



$934.974-58 
$1,041,974.58 



GENERAL EQUIPMENT. 
Charges. 

Snow Equipment — covering cost of 

3 Snow Plows, 7 Electric Sweepers, 1 
Electric Coal Car, 50 Snow Sleds, 16 
Levellers, 1 Derrick Wagon, 1 Pole 
Wagon, 7 Wagons, 8 Carriages, 2 
Sprinklers, ..... 

New Machinery, Tools, and Miscellaneous 
Equipment, ..... 



Credits. 
Equipment sold, destroyed and transferred, 
Net increase of account for the year, 



$40,872.82 

4,688.46 
$45,561.28 

10,988.57 



$34,572.71 



21 

POWER STATION EQUIPMENT. 

Charges. 

Central Power Station — Steam Equipment, $76,25445 
" " " Electrical Equipment, 59,894.80 

Allston Power Station — Steam Equipment, 4,674.96 

" " " Electrical Equipment, 6,210.81 

E. Cambridge Power Station — Steam Equipm't, 32.00 

Electrical Equipment at Edison Electric 111. 

Co.'s Station 26,879.27 

Electrical Equipment at Camb. Electric Lt. 

Co.'s Station, 24,805.31 



198,751.60 



Credits. 



Electrical Equipment, Allston Power Sta- 
tion transferred, . . . . . 8,000.00 

Net increase of account for the year, $190,751.60 



ELECTRIC LINE EQUIPMENT 

Charges. 
Wiring Tracks underground, 



Poles, and setting same, 

Overhead Electric Equipment, . 

Feeder Lines, . . 

Tools and Equipment for Line construction 

Total account for the year, 



#58,960.88 

70,692.64 

59,120.28 

50,804.69 

3^58.77 



243,237.26 



Net Increase of General Equipment account for the year, $468,561.57 



22 

CAPITAL STOCK ACCOUNT. 

The outstanding capital stock has been increased during 
the year by the issue of 39,823 shares of common 
stock amounting to ...... $1,991,150.00 

for which cash has been paid into the Treasury. 

Of this amount the sum of $763,163.87 

was applicable to construction expenditures prior to 
this fiscal year, leaving available for this year's addi- 
tions to property the sum of .... . $1,227,986.13 

Inasmuch as the expenditures upon property account for 
new real estate, power stations and their equipment, 
new car houses, tracks, cars and motor equipment and 
electric overhead construction, have necessarily been 
made without reference to the periods when the stock 
subscriptions fall due, these expenditures, amounting 
for the fiscal year to the sum of .... 2,780,100.69 
exceed the receipts from new stock applicable there- 
to by . $1,552,114.56 

which exists as a floating debt to be retired as the 
stock is issued and paid for. 

The issue of Capital stock authorized for these 

purposes was ... .... 4,000,000.00 

Of this amount there has been issued to Sept. 30 . . 1,991,150.00 
and there remains to be issued $2,008,850.00 

The net floating debt of the Company has been increased 
during the year to the amount of $484,229.88. 



FOURTH ANNUAL REPORT 



OF THE 



West End jSfoeet Railway Company. 



1891. 



\ 



FOURTH ANNUAL REPORT 



OF THE 



I 



51 



D STREET fill 




FOR THE YEAR ENDING SEPTEMBER 30, 1891. 



BOSTON: 

R. H. BLODGETT, Printer, 30 Bromfield Street. 

1891. 



OKKICKRS. 



1 890- 1 89 1 . 



PRESIDENT. 

Henry M. Whitney. 

Edmund Reardon, Vice-President, 

Frank H. Monks, General Manager. 

J. H. Goodspeed, Treasurer. 

C. S. Sergeant, Auditor. 



CLERK OF CORPORATION. 

Edmund Reardon. 



FOURTH ANNUAL REPORT. 



OFFICE OF THE 



W&zst gtxd Mvttt glailxuay CfPompauij, 



Boston, November 12, 1891. 
To the Stockholders : 

Your Directors submit the following statement and report, covering 
the operations of your Railway for the year ending September 30, 1891 : 



$245,734.63 

11,842.20 

170,500.00 

117,039.18 



Gross Earnings, 
Operating Expenses, 

Net Earnings, .... 
Fixed Charges were as follows : 

Taxes, .... 

Rent of Leased Roads, 

Coupon Interest, 

Miscellaneous Interest., 

Total fixed charges, 

Balance available for Dividends, 
Against which the Dividend Charges were as follows : 
8 per cent. Dividend on Preferred Stock, $512,000.00 
5 per cent. Dividend on Common Stock, 

Jan. 1, 175,000.00 

5 per cent. Dividend on Common Stock, 

July 1, 201,317.50 

Total Dividend Charges, . 

Balance of Net Income carried to Surplus account, 



$5,968,984.47 

4,445,559 59 

$1,523,424.88 



545,116.01 
$978,308.87 



$888,317.50 



,991-37 



During the past year the work upon the permanent power plant of 
the Company has been diligently prosecuted, but, owing to the magni- 
tude of the work, and the various delays unfortunately incident to under- 
takings of this kind, the Company has not been able to avail itself of 
the power being thus provided. Since the close of the year, however, — 
namely, on October 14th, — the Jamaica Plain line, and, on October 
24th, the remainder of the cars on Tremont Street, numbering in all 
seventy-eight cars, were started by power from the permanent plant ; 
and it is expected that by the 1st of January the demands for electric 
power will be fully met from the permanent plant. 

We believe that it is now well-nigh universally admitted that for the 
propulsion of street cars the electric system is to be the established sys- 
tem for the future ; and the Directors feel that, in spending the money 
for a plant that is calculated to produce a very large amount of power in 
the most economical way, they have consulted the best interests of the 
Company and of the community. 

There is also the advantage of the greater reliability of the system 
and the greater freedom from accidents, which are considerations of 
prime importance when the whole system is to be run by electricity. 

The further introduction of the long cars is one of the important 
events of the year. A year ago there were but few of the long cars run- 
ning, most of the electric cars then in use being of the short pattern, 
supplemented by tow cars. The cost of running the long cars is about 
the same as that for the short cars, while the increased earning capacity, 
as well as the increased accommodation for the community, are consid- 
erably greater. The increase in earnings during the past year has been 
mainly in the places where the electric system is in operation. The 
lines which have heretofore been electrically equipped have mainly been 
the long and unprofitable horse car lines, while the lines now being 
equipped are the shorter and more profitable ones of the system. 

It is the purpose of the Company to proceed with the establishment 
of the electric system over its lines as rapidly as possible. We expect 



to be able before the ist of January to add one hundred and seventy- 
five more long cars to the electric system ; the cars have been ordered, 
and have been promised in season to accomplish this, and the car-houses 
and the track will soon be ready. If this is done, the mileage of the 
electric system having been about one-fourth of the whole mileage dur- 
ing the past year, the mileage for the present year will be something 
more than one-half the whole mileage, or about 9,000,000 miles. 

The Company is now charging to its operating expenses, for depre- 
ciation in horses, the same amount as when the entire system was oper- 
ated by horse power. Besides this, the increased cost of provender 
alone for the last year, even with the reduced number of horses, has 
been about $119,000 over that of the previous year. 

Excepting where the electric cars have been in use, the increase in 
the gross earnings has not been large during the past year. This is 
partly due to the fact that the presence of the Grand Army of the 
Republic, in August of last year, increased the earnings for that year 
abnormally, — something like $50,000, — while the severity of the past 
winter undoubtedly accounted for the falling off in the earnings of the 
winter months. In the earnings of the lines operated by electricity 
there has been a steady, and in some cases a most surprising, increase. 
While in the original change from horse power to electricity there was a 
large increase in earnings, the continued operation of the electric system 
on these lines has resulted in continued gains. 

Perhaps the most important event of the year has been the further 
issue of the common stock of the Company, and the payment of its 
floating debt incurred for construction. This has left the Company in 
a stronger financial position than it has ever held. 

The Company during the past year has effected insurance against 
accidents resulting in personal injuries to passengers and employes. 
This is a new departure which, it is believed, will result in an eventual 
saving, and will tend to equalize this item of expense. 

The Company will have for sale, in the near future, a large amount 



of real estate, which, by reason of the change from horses to electricity, 
will not longer be required. 

Considering the greater earning power of the long cars, and the addi- 
tional number of these cars that are being put on, together with the 
general increase in the business, the Directors believe that the Company 
will be easily able to meet its dividends on the increased stock, with a 
considerable surplus for extraordinary expenses. 

Full details of the financial condition of the Company, and of its 
operations during the year, will be found in the accompanying reports of 
the Treasurer and Auditor. 

Respectfully submitted, 

HENRY M. WHITNEY, President, 

FOR THE BOARD OF DIRECTORS. 



TREASURER'S REPORT. 



To the President and Directors of the West End Street Railway Company : 

I herewith submit Statements of the business of the Company for 
the fiscal year, ending September 30th, 1891. 

A. General Balance Sheet. 

B. Income Account. 

C. Surplus Account. 

D. Inventory of Equipment, etc. 

Yours respectfully, 

J. H. GOODSPEED, 

Treasurer. 

Boston, November 12, 1891. 



8 



GENERAL BALANCE SHEET. 



PERMANENT INVESTMENTS. 



Construction, .... 
Real Estate, .... 
Genera] Equipment, . 
Horses (6,796), .... 
Cars (1,662, including 84 tow cars), 
Electric Cars (469) . ... 
Electric Line Equipment, 
Power Station Equipment, 



,5,516,994.45 

6,650,654.38 

458,139.14 

910,664.00 

1,258,818.00 

1,396,929.46 

597,048.29 

488,682.02 



Total Cost of Road, Equipment, and Real Estate, $17,277,929.74 



CASH ASSETS AND ACCOUNTS. 



Cash, ...... 

Material and Supplies, 
Payments on account of Contracts, 
Notes and Accounts Receivable, 
Maiden & Melrose Railroad Co., 
Somerville Horse Railroad Co., 
Furniture and Fixtures, 
Stocks and Bonds, 
Insurance, present value, 
Subscribers to Capital Stock, 

Total Cash Assets and Accounts, 



$1,022,228.81 

409.39869 

574,948.09 

265,966.38 

214,519.83 

82,353.61 

29,578.24 

75,100.00 

25,998.26 

3,960.00 



2,704,051.91 



TOTAL ASSETS, 



$19,981,981.65 



9 



A. 



SEPTEMBER 30th, 1891. 



CAPITAL STOCK. 

Common Stock, $ 

Preferred Stock, .... 

Total Capital Stock, 

Capital Stock Subscriptions, 



7,137,100.00 
6,400,000.00 



$13,537,100.00 
12,250.00 



FUNDED DEBT. 



Bonds 6 %, due in 1897, 



" 6 %, 


1898, 


" 5 %> 


" 1902, 


" 5 °/o, 


1903, 


" 5 °lo, 


1904, 


" 5 %, 


" 1905, 


" 5 % 


" 1907. 


Mortgage Notes, 


Total Funded 


Debt, . 



$700,000.00 
100,000.00 
300,000.00 

I,I00,CCO.0O 

350,000.00 

200,000.00 

500,000.00 

1,022,000.00 



NOTES AND ACCOUNTS. 

$1,061,448.26 



Notes Payable, .... 
Dividends not called for, . 
Accrued Preferred Dividend to Sept 

30, 1891, .... 
Coupons not presented, . 
Accrued Interest and Rentals not 

yet due, 
Unpaid Vouchers and Accounts, 
Outstanding Tickets and Checks, 

Total Notes and Accounts, 

profit and loss. 



8,214.50 

128,000.00 
21,215.00 

44>783-34 

673,320.17 

8,989.64 



Surplus, 



4,272,000.00 



1,945,970.91 



TOTAL LIABILITIES, 



214,660.74 
$19,981,981.65 



IO 



B. 



INCOME ACCOUNT FOR THE YEAR 



DEBIT. 



Operating Expenses, . 

Taxes (equivalent to $308.32 per car on 

of cars in use), .... 
Coupon Interest, 
Miscellaneous Interest, 
Rentals of Leased Roads, 
Preferred Stock Dividends, 
Common Stock Dividends, . 
Balance carried to Surplus Account, 



average number 



^445.559-59 

245,734.63 
170,500.00 
117,039.18 
11,842.20 
512,000.00 
376,317.50 






#5,968,984.47 



II 



B. 



ENDING SEPTEMBER 30th, 1891. 



CREDIT. 



Gross Earnings, . 
Passengers, 
Sales of Manure, 
Rent of Tracks, 
Rents of Real Estate, 
Advertising, 
Miscellaneous, . 



#5,880,179.98 
15,863.67 
13,401.40 
20,936.56 
28,903.22 
699.64 



$5,968,984.47 



$5,968,984.47 



12 

c. 

SURPLUS ACCOUNT 

For the Year ending September 30, 1891. 

CREDIT. 
1890. 

Sept. 30. By Balance from previous year, . . $355>558-28 

1 891. 
By Balance of Net Income for the year in excess of 

Charges and Dividends, as per'Statement B, . . 89,991.37 

Sept. 30. By old account reclaimed, .... 54-°° 

Total credit, $445,603.65 

» 

DEBIT. 
1891. 

Sept. 30. Amount paid in redemption of 

South Boston R. R. Stock, . $2,500.00 

" " To excess cost of 8.18 miles of 

track rebuilt with girder rail 

during year above amt. allow'd 

to be capitalized, . . . 70,726.15 

To value of old track taken up 
during year and not replaced, 
now written off, . . . 17,182.80 

To depreciation in Car Equip- 
ment charged off, . . . 140,533.96 

To Credit balance carried to next 

year, 214,660.74 

$445,603.65 



a a 



13 
D. 

EQUIPMENT, ETC. 



Box Cars, Horse, ..... 


820 


" Electric (long 208, short 89), . 


297 


Open Cars, Horse, ..... 


842 


" Electric (long 47, short 125), 


172 


Horses, ....... 


6,796 


Miles Track owned, ..... 


244.47 


" " leased, ..... 


14.63 


" used conjointly, 


.717 


Total miles operated, .... 


259.817 


Miles of Track completely equipped with 




electric overhead system, . 


81.234 


Miles of Track partially equipped (under- 




ground wiring only), 


29.830 


Miles of Track partially equipped (poles 




only), ...... 


18.907 


Miles run during the year, . . 


17,462,572 


Passengers carried, . . ... 


119,264,401 


Round trips run, ..... 


2,328,274 



AUDITOR'S BEPORT 



FOR THE 



YEAR ENDING SEPTEMBER 30, 1891. 



17 

Boston, Nov. i, 1891. 

To the President and Directors of the West End Street Railway Co. : 

Gentlemen, — The following report of the operations of the West 

End Street Railway Company for the fiscal year ending September 30, 

1891, is respectfully submitted: 

C. S. Sergeant, Auditor. 

EARNINGS AND EXPENSES. 



Gross Earnings. 



From Passengers, 
Rent of Tracks, 
Sales of Manure, . 
Rent of Real Estate . 
Advertising, 
Miscellaneous Income, 

Total, 



$5,889,179.98 

13,401.40 
15,863.67 
20,936.56 
28,903.22 
699.64 

$5,968,984.47 



Operating Expenses. 



For General Expenses, . 
Maintenance of Track, . 
Maintenance of Buildings, 
Maintenance of Cars and Vehicles, 
Maintenance of Horse Equipment, . 
Maintenance of Electric Equipment, 
Road and Snow Expense, 
Transportation Expenses, 
Injuries and Damages, 

Total, . 

Net Earnings, . . . . 



$327,692.42 
202,599.16 

67,55 8 -36 
200,133.67 
270,165.42 
137,484,66 
134,069.37 
2,957, 264.11 
148,592,42 

$4,445,559-59 
$1,523,424.88 



245-68 


(< 


I. 21 


<< 


244.47 miles, 


1463 


i« 


.717 


si 



18 

MILEAGE OF TRACK. 

Changes during the year have been as follows : 

Total track owned Sept. 30, 1890, . . . 239.45 miles. 

Additions for- extensions during the year, . . 6.23 

Total. ....... 

Reductions for tracks taken up during the year, . 

Net length of track owned Sept, 30, 1891, 
Operated under leases, ...... 

" under trackage privileges, 

Total track operated Sept. 30, 189 1, . 259.817 
which is made up as follows : 

Length of Main Line, . 
" of second track, 
" of sidings, car-house curves, 

cross-overs, etc., 
" of track in car houses and 

yards, .... 

Total, .... . 259.817 

The total length of track unpaved is 8.93 
The total length of track built with heavy girder 

rail is ....... 80.62 

The weight of girder rail is from 50 lbs. to 100 lbs. per yard. 



148.797 


miles. 


86.44 


<( 


7-14 


<( 


17.44 


(< 



PASSENGER TRAFFIC STATISTICS 



folk 



are as iouows : 



Round Trips run, 2,328,274 

Revenue Miles run, ........ 17,462,572 



19 



Revenue Passengers carried, 

Passenger Receipts, . 

Average Receipts per Passenger, 



119,264,401 

$5,889,179.98 

4.938 cents. 



MILEAGE OF ELECTRIC CARS AND HORSE CARS. 



The length of tracks fully equipped with the electric overhead single 
trolley system was, on Sept. 30, 81.234 miles. The revenue miles run 
during the year were as follows : 



Double Motor Electric Cars, 

Single " " 

Cars towed by " " 

Total Mileage of Electric Cars, 
Mileage of Horse Cars, 

Total, ..... 



3.588,253 
580,730 
419,163 

4,588,146 
12,874,426 



26.27 P er ct - 
7373 " 



17,462,572 = 100.00 



RECONSTRUCTION OF TRACKS. 



The length of tracks rebuilt with heavy girder rail during 
the year amounts to 8.18 miles, the rail mainly used 
weighing 72A pounds to the yard. The total cost of 
this work has been ....... 

which has been provided for as follows : 

Charged to construction account for betterment of 
tracks as per permission granted by the Railroad 
Commissioners as a part of the expenditures neces- 



$132,076.15 



20 

sary for the equipment of the road with electric power, 

8.18 miles at #7,500 per mile, #61,350.00 

Balance charged to Surplus Account, . . . #70,726.15 

The total length of track constructed with girder rail to 
Sept. 30, 1891, is 80.62. 



CONSTRUCTION ACCOUNT. 

This account has been charged during the year with the 
cost of construction of 6.23 miles of new tracks, with 
engineering and other general expenses of construc- 
tion, electric construction and elevated railroad con- 
struction, and with the estimated betterment from 
the heavy girder rails laid upon 8.18 miles of track 
rebuilt for use of electric cars, the total charge 

being #225,004.16 

Credit has been given for 1.21 miles of tracks taken up, 17,182.80 

Net increase of this account for the year . . #207,821.36 



REAL ESTATE ACCOUNT. 
Charges. 

Sundry purchases of property for Car Stations, etc., . #75^35-75 

Expended upon construction of Central Power Station, . i75>37°-^5 
" " " of East Cambridge Power 

Station, 93,938.20 

New Car Houses, and additions to existing Car Houses 

to adapt them to use of Electric Cars, . . . 100,554.95 

Total charges, #445,499.75 



21 

Credits. 

Received from sale of Buildings, ..... $204.58 

" " insurance on Stable burned, . . . 5,890.00 

Total Credits, $6,094.58 

Net addition to Real Estate for the year, . . . $439,405.17 

EQUIPMENT ACCOUNT— HORSES. 

No charges have been made during the year. 
Credit has been given for decrease in number of horses 

owned. 131 horses at $134, 3 . . . . $17,554.00 
which amount, together with the net cost of horse 
renewals, has been charged to Operating Expenses. 

EQUIPMENT ACCOUNT. 
horse cars. 

Charges. 
22 box cars added to equipment, ..... $21,442.60 

Credits. 

22 box cars and 1 open car converted to electric cars, and 
6 horse and tow cars used for long cars and transferred 
to that account, 24,850.00 

6 tow cars, 4 open and 12 box cars sold, 9 open and 3 box 

cars destroyed, ........ 16,350.00 

Depreciation charged off, ...... 32,402.02 

Total credits, ...... $73,602.02 

Net reduction of Horse Cars account, . . . $52,159.42 



22 

EQUIPMENT ACCOUNT. 
electric cars. 
Charges. 

This account has been charged with value of 22 box cars 
and 1 open car transferred from horse car equip- 
ment ... . . . . . . . $22,600.00 

Also with cost of 16 new long open electric motor cars, 

and 2 short and 206 long box electric motor cars, . 410,188.18 

Total charges, $432,788.18 
Credits. 

22 box and 18 open electric cars sold, . $99,775.00 
21 box " " " converted to horse, 21,00000 

Depreciation charged off 108,131.94 



Total credits, $227,906.94 

Net charge to this account for the year, $204,881.24 

GENERAL EQUIPMENT. 
Charges. 

Snow Equipment — Amount expended for 

Electric Snow Equipment, . . . $23,101.07 

New Vehicles — 4 Tower Wagons, 9 Ex- 
press Wagons, 4 Buggies, 2 Caravans, 4,005.85 

New Machinery, Tools, and Miscellaneous 

Equipment ..... 9.386.93 



$36,493.85. 
Credits. 

Equipment sold, destroyed and transferred, $1,515.23 



Net increase of account for the year, $34,978.62 



23 

POWER STATION EQUIPMENT. 
Charges. 

Central Power Station — Steam and Electri- 
cal Equipment, ..... $202,000.69 

Allston Power Station — Steam and Electri- 
cal Equipment, ..... 19,969.97 

E. Cambridge Power Station — Steam and 

Electrical Equipment, .... 7,772.87 



#229,743.53 



Credits. 

Electrical Equipment, Edison Electric 111. 

Co.'s Station transferred, . . . $26,879.27 

Electrical Equipment — Camb. Electric Lt. 

Co.'s Station, ..... 8,120.80 



35,000.07 
Net increase of account for the year, $194,743.46 



ELECTRIC LINE EQUIPMENT. 

Charges. 

Wiring Tracks underground, . . . $21,215.09 

Poles, and setting same, .... 63,165.39 

Overhead Electric Equipment, . . 17,164.57 

Feeder Lines, ...... 54,964.06 

Tools and Equipment for Line construction, 3,895.84 



Total account for the year, . . $160,404.95 



FIFTH ANNUAL REPORT 



— OF THE- 



We$ End ptoefc ^ailwa j Compamj. 



1892. 



FIFTH ANNUAL REPORT 



OF THE 



IS? lid STREET U 



I 




FOR THE YEAR ENDING SEPTEMBER 30, 1892. 



BOSTON: 
R. H. BLODGETT, Printer, 30 Bromfield Street. 

1892 



DIRECTORS AND OFFICERS. 



1891—1892 



DIRECTORS. 

Henry M. Whitney, 



G. T. W. Braman. 
Isaac T. Burr. 
T. Jefferson Coolidge. 
Joseph S. Fay, Jr. 
Eustace C. Fitz. 
Walter Hunnewell. 
Henry D. Hyde. 



E. D. Jordan. 
Samuel Little. 
William Powell Mason. 
Theophilus Parsons. 
Dexter N. Richards. 
Walter S. Swan. 
Nathaniel Thayer. 



EXECUTIVE COMMITTEE. 

Henry M. Whitney. 



Walter Hunnewell. 
Henry D. Hyde. 



Samuel Little. 
Theophilus Parsons. 



CLERK OF CORPORATION. 

Prentiss Cummings. 



OFFICERS. 

Henry M. Whitney, President. 

Prentiss Cummings, Vice-President. 

C. S. Sergeant zd Vice-President. 

J. H. Goodspeed Treasurer. 

H. L. Wilson, Auditor. 



FIFTH ANNUAL REPORT. 



OFFICE OF THE 

WlzsX gnd g>txzzt %vaXxauv± (frcrrajmtxij, 

Boston, November io, 1892. 
To the Stockholders : 

Your directors submit the following statement and report, covering 
the operations of your Railway for the year ending September 30, 1892. 

Gross Earnings, . . $6,317,205.17 

Operating Expenses, .-.,,. 4,477,783.02 

Net Earnings $1,839,422.15 

Fixed Charges were as follows : 

Taxes, . . . . . . . $308,840.03 

Interest and Rentals of Leased Roads, 200,861.51 

Total fixed charges, ...... 509,701.54 

Balance available for Dividends, .... $1,329,720.61 
Against which the Dividend Charges were as follows : 
8 per cent. Dividend on Preferred Stock, $512,000.00 
5 per cent. Dividend on Common Stock, 

Jan. 1, 357,112.50 

per cent. Dividend on Common Stock, 

July 1, \ . . . . . 454,250.00 

Total Dividend Charges, . . . 1,323,362.50 

Balance of Net Income carried to surplus account, $6,358.11 

At the close of the year about two-thirds of all the mileage, namely, 
1.000,000 miles per month, was being run by the electric system. It is 



hoped that by January ist, about 200 cars will be added, bringing the 
electric mileage up to 16,000,000 miles per year. 

It is expected that the Power Houses will be practically completed 
by the first of January, and a sufficient number of large dynamos then 
installed to supply all demands for power. Up to this time, the 
Company has had comparatively little advantage from the large engines, 
due to the fact that until. the first of October, but one of the large 
dynamos had been delivered. The Company has, within a short time, 
received eight large dynamos, and it is believed that the remainder of 
them, twenty-five in all, will be delivered within the next three or four 
months. 

The rapid growth in the business from Cambridge, Charlestown, 
Somerville and Everett, to which places power is supplied from the 
Cambridge Station, may make it advisable within the next two or three 
years to add another engine and some dyanmos to that Station. Pro- 
vision was made for this in the original plans, and the cost, when done, 
will be comparatively small. With this possible exception, the power 
provided would appear to be ample for many years to come. 

A large sum of money has been expended upon the track during the 
past year in order to prepare for the extension of the electric system. 
By the first of January, all the track in habitual use in the city proper 
will have been rebuilt. Considering the infinite number of curves, 
switches and cross-overs required in the city proper, and especially in the 
down town part of it, the rebuilding of one mile in this district is equiva- 
lent to at least three miles in the suburban districts. Having now so 
large a proportion of the mileage of the road electric, we feel that the 
remainder of the track can be rebuilt gradually, from time to time, as 
the wants of a growing community may require. 

There are certain places where the electric system cannot probably 
be introduced at present, and therefore the year 1893 should see the sub- 
stantial closing of all the construction and re-construction work. After 
this, or say from the first of January 1894, all future expenses con- 



nected with existing lines, should be borne by the surplus earnings as a 
credit to depreciation account. If the earnings per mile of the electric 
system are equal in the future to what they have been during the past, 
this surplus will be amply sufficient for this purpose. 

Full details of the financial condition of the Company, and of its 
operations during the year, will be found in the accompanying reports 
of the Treasurer and Auditor. 

Respectfully submitted, 

HENRY M. WHITNEY, President, 

FOR THE BOARD OF DIRECTORS. 



TREASURER'S REPORT. 



To the President and Directors of the West End Street Railway Com- 
pany : 

I herewith submit Statements of the business of the Company for 
the fiscal year, ending September 30th, 1892. 

A. General Balance Sheet. 

B. Income Account. 

C. Surplus Account. 

D. Inventory of Equipment, etc. 

Yours respectfully, 

J. H. GOODSPEED, 

Treasurer 

Boston, November 10, 1892. 



s 



A. 



GENERAL BALANCE SHEET. 



PERMANENT INVESTMENTS. 



Construction, 

Real Estate, .... 

General Equipment, 

Horses (3754). .... 

Cars (1226) .... 

Electric Cars (1028), 

Electric Line Equipment, 

Electric Car House & Shop Equipment, 

Power Station Equipment, » . 



55,920,585.82 

7,342,904.07 

556,917.04 

503,036.00 

919,130.00 



3,238,227.64 

973,437.88 

99,989.57 

1,441,041.62 



Total Cost of Road, Equipment, and Real Estate, $20,995,269.64 



CASH ASSETS AND ACCOUNTS. 



v^d-Sn^ • ■ • « • 

Material and Supplies, 
Notes and Accounts Receivable, 
Maiden & Melrose Railroad Co., 
Somerville Horse Ra.ilroad Co., 
Furniture and Fixtures, 
Stocks and Bonds, 
Insurance, present value, . 

Total Cash Assets and Accounts, 



$355,052.15 

554,029.41 

289,354.42 

214,519.83 

82,353.61 

24,778.24 

75,100.00 

12,783.05 



1,607,970.71 



TOTAL ASSETS, 



$22,603,240.35 



9 
A. 

SEPTEMBER 30th, 1892. 



CAPITAL STOCK. 



Common Stock, 
Preferred Stock, 

Total Capital Stock, 



$9,085,000.00 
6,400,000,00 



$ 1 5,485,000.00 



FUNDED DEBT. 



Bonds 6 of , due in 1897, 



(1 


6%, 


<( 


1S98, 


11 


5 %. 


<< 


1902, 


<l 


5 % 


u 


1903. 


(1 


5 %, 


a 


1904, 


« 


5 %» 


« 


I905. 


<( 


5 % 


it 


1907, 


Mortgage Notes, 


• 


Total 


Funded 


Debt, . 



$700,000.00 

IOO.OOO.CO 

300,000.00 

1,100,000.00 

350,000.00 

200,000.00 

500,000.00 
1,015,000.00 



4,265,000.00 



NOTES AND ACCOUNTS. 



Notes Payable, .... 

Dividends not called for, 

Accrued Preferred Dividend to Sept 

30, 1892, .... 
Coupons not presented, 
Accrued Interest and Rentals not 

yet due, .... 
Unpaid Vouchers and Accounts, 
Outstanding Tickets and Checks, 

Total Notes and Accounts, 



11,376,448.26 
12,409.00 

128,000.00 
22,057.50 

44,783-34 
922,120.47 

11,136.81 



2,516,955.38 



PROFIT AND LOSS. 



Surplus, 



TOTAL LIABILITIES, 



336,284.97 
$22,603,240.35 



IO 
B. 

INCOME ACCOUNT FOR THE YEAR. 

DEBIT. 



Operating Expenses, ....... 

Taxes (equivalent to $376.63 per car on average number 

of cars in use), . 

Interest and Rentals of Leased Roads 
Preferred Stock Dividends, ..... 

Common Stock Dividends, ...... 

Balance carried to Surplus Account, . 



$4,477,783.02 

308,840.03 
200,861.51 
512,000.00 
811,362.50 
6,358.11 



56.317,205.17 



II 



ENDING SEPTEMBER 30th, 1892. 



CREDIT. 



Gross Earnings, . 

Passengers, 

Sales of Manure, 

Rent of Tracks, 

Rents of Real Estate, 
Advertising, 

Miscellaneous, . 



#6,317,205.17 



6,237,646.28 

12,920.93 

13,422.63 

21,509.48 
29,389.52 

2,316.33 



5,317.205.17 



12 
C. 

SURPLUS ACCOUNT 

For the Year ending September 30th, 1892. 

CREDIT. 
1891. 

Sept. 30. By Balance from previous year, . . , $214,660.74 

1892. 

Sept. 30. 

By Balance of Net Income for the year in excess of 

Charges and Dividends, as per Statement B, . . 6,358.11 

Premiums received from sale of Stock by Auction, . 786,934.15 



$1,007,953.00 



DEBIT. 
1892. 

Sept. 30. Amount paid in redemption of 

South Boston R. R. Stock, $728.39 

" " To excess cost of 36.95 miles of 

track rebuilt with girder rail 

during year, above the amount 

allowed to be capitalized, . 429,281.57 

" " To value of old track taken up 

during year and not replaced, 

now written off, . . . 12,987.70 

" " To depreciation in Car Equip- 
ment charged off.' . . 19,253-93 



To amount carried forward, . $462,251.59 



13 

Amount brotight forward, . . $462,251.59 

" To expenses Boston Consoli- 
dated R. R. previous to time 
of Consolidation with West 
End St. Ry. Co., . . 8,137.34 

" To value of buildings removed 
and destroyed during the 
year 53,344.80 

" To loss on decrease of 3,042 
horses during the year after 
having charged operating ex- 
penses with $136,800.00, . 147,934.30 

" To credit balance carried to 

next year, .... 336,284.97 



$1,007,953.00 



14 
D. 

EQUIPMENT, ETC. 



Box Cars, Horse, ..... 


702 


" Electric (long 455, short 122), . 


577 


Open Cars, Horse, . 


524 


" Electric (long 47, short 404) . 


45i 


Horses, 


3.754 


Miles Track owned, .... 


247.832 


" " leased, .... 


13.29 


" " used conjointly, . . . 


2.294 


Total miles operated, .... 


263.416 


Miles of Track completely equipped with 




electric overhead system, . 


148.045 


Miles of Track partially equipped (under- 




ground wiring only), .... 


1 7. 204 


Miles of Track partially equipped (poles 




only), 


17-134 


Miles of Electric Feeder Lines, 


168.208 


Miles run during the year, . 


17,498,660 


Passengers carried, ..... 


126,210,781 


Round trips run, 


2,259,858 



AUDITOR'S REPORT 



FOR THE 



YEAR ENDING SEPTEMBER 30, 1892, 



Boston, Nov. i, 1892. 

To the President and Directors of the West End Street Railway Co. : 

Gentlemen, — The following report of the operations of the West 

End Street Railway Company for the fiscal year ending September 30, 

1892, is respectfully submitted : 

H. L. Wilson, Auditor. 



EARNINGS AND EXPENSES. 



Gross Earnings. 



From Passengers, . 
Rent of Tracks, 
Sales of Manure, . 
Rent of Real Estate, 
Advertising, . 
Miscellaneous Income, 

Total, 



Operating Expenses. 
For General Expenses, 
Maintenance of Track, . 
Maintenance of Buildings, 
Maintenance of Cars and Vehicles, 
Maintenance of Horse Equipment, 
Maintenance of Electric Equipment, 
Road and Snow Expense, 
Transportation Expenses, 
Injuries and Damages, . 

Total, .... 

Net Earnings, .... 



$6,237,64628 
13,422.63 
12,920.93 
21,50948 
29,389.52 
2=316.33 



5,317,205.17 



363,716.49 
238,79021 
53.550.2i 
219,738.94 
222,409.69 
256,921.87 
133,477.84 
2,782,702.77 
206,475.00 

#4,477,783.02 

#1,839,422.15 



1 8 

MILEAGE OF TRACK. 

Changes during the year have been as follows: 
Total track owned Sept. 30, 1891, . . . 244.47 miles. 

Additions for extensions during the year, . . 6.722 " 



Total, 251.192 

Reductions for tracks taken up during the year, . 3-36o 



Net length of track owned Sept. 30, 1892, 247.832 

Operated under leases, ..... 13-29 

under trackage privileges, . . . 2.294 



Total track operated Sept. 30, 1892, . 263.416 

which is made up as follows : 

Length of Main Line, .... 149.080 miles. 

" of second track, . . . 89.156 " 
" of sidings, car-house curves, 

cross-overs, etc., . . 6.770 
" of track in car houses and 

yards 18.410 " 



263.416 


« 


7-36 


(I 


116.81 


<( 



Total, 

The total length of track unpaved is 
The total length of track built with heavy girder 

rail is, ........ 

The weight of girder rail is from 50 lbs. to 100 lbs. per yard. 



PASSENGER TRAFFIC STATISTICS 

are as follows : 

Round Trips run, 2,259,858 

Revenue Miles run, 17,498,660 



19 

Revenue Passengers carried, 126,210,781 

Passenger Receipts, . $6,237,646.28 

Average Receipts per Passenger, 4 .942 cents. 



MILEAGE OF ELECTRIC CARS AND HORSE CARS. 

The length of tracks fully equipped with the electric overhead single 
trolley system was, on Sept. 30, 148.045 miles. The revenue miles run 
during the year were as follows: 

Double Motor Electric Cars, . . . 5,598,090 
Single " " "... 2,775,106 

Cars towed by " " ... 137,087 



Total Mileage of Electric Cars, . 8,510,283 = 48.63 per ct. 
Mileage of Horse Cars, .... 8.988,377= 51.37 



Total, ...... 17,498,660 = 100.00 



PASSENGER RECEIPTS OF ELECTRIC CARS AND 

HORSE CARS. 

The passenger receipts for the year were as follows : 

From Electric Cars, . . . $3,330,549.29 = 53.39 per ct. 

From Horse Cars, .... 2,907,096.99 = 46.61 " 



5,237,646.28 = IOOOO 



20 

RECONSTRUCTION OF TRACKS. 

The length of tracks rebuilt with heavy girder rail during 
the year amounts to 36.9553 miles, the rail mainly 
used weighing 72^ or 78 pounds to the yard. The 
total cost of this work has been .... $706,446.32 

which has been provided for as follows : 

Charged to construction account for betterment of 
tracks, as per permission granted by the Railroad 
Commissioners, as a part of the expenditures neces- 
sary for the equipment of the road with electric power, 
36.9553 miles, at $7,500 per mile, .... 277,164.75 

Balance charged to Surplus Account, . . . $429,281.57 

The total length of track constructed with girder rail 
Sept. 30, 1892, is 1 16.81 miles. 



CONSTRUCTION ACCOUNT. 

This account has been charged during the year with the 
cost of construction of 6.722 miles of new tracks, with 
engineering and other general expenses of construc- 
tion and electric construction, and with the estimated 
betterment from the heavy girder rails laid upon 
36.9553 miles of track rebuilt for use of electric cars, 
the total charge being ..... $445,281.11 
Credit has been given for 3.36 miles of tracks taken 
up 41,689.74 

Net increase of this account for the year, . . $403,591.37 



21 

REAL ESTATE ACCOUNT. 

Charges. 

Sundry purchases of property for Car Stations, etc., . $4,788.16 

Expended upon construction of Central Power Station, . 257,949.10 
" " " of East Cambridge Power 

Station, 101,186.80 

New Car Houses, and additions to existing Car Houses 

to adapt them to use of Electric Cars, . . . 384,69844 



Total Charges, $748622.50 



Credits. 

Received from sale of Buildings, . . . . $90.00 

" " " Land, 2,938.01 

Credit for Buildings removed and destroyed during the 

year, 53,344.80 



Total Credits, $56,372.81 



Net addition to Real Estate for the year, . . . $692,249.69 



EQUIPMENT ACCOUNT — HORSES. 

No charges have been made during the year. 
Credit has been given 
For decrease in number of horses owned, 

3,042 horses @ $134, $407,628.00 



22 

EQUIPMENT ACCOUNT. 

HORSE CARS. 
No charges have been made during the year. 

Credits. 

53 box cars and 283 open cars converted to electric cars, 
and 36 box horse cars used for long cars and trans- 
ferred to that account, ...... $276,400.00 

29 box cars and 35 open cars sold, and material removed 

or destroyed, 44,034.07 

Depreciation charged off, . .... 19,25 3. 93 



Net reduction of Horse Car account, . . $339,688.00 



EQUIPMENT ACCOUNT. 
electric cars. 

Charges. 

This account has been charged with value of 53 box cars 
and 283 open cars transferred from horse car equip- 
ment $245,800.00 

Also with cost of 248 long box electric motor car bodies, 

833 motors, and electric equipments, and 626 trucks, 1,626,568.68 

Total charges, $1,872,368.68 

Credits. 

20 box and 4 open electric car bodies, 

16 motors, and 26 trucks sold, . . $29,195.00 
1 long box electric car burned, . . . 1875. 50 



Total credits $31,070.50 



Net charge to this account for the year, . $1,841,298.18 



23 

GENERAL EQUIPMENT. 

Charges. 

Snow Equipment — Amount expended for 

Electric Snow Equipment, . . . #81,170.39 

New Vehicles — 7 Tower Wagons, 6 Ex- 
press Wagons, 3 Buggies, 1 Caravan, 
8 Pungs and Sleds, and 7 Emergency 
Wagons, . . . . . 5,850.82 

New Machinery, Tools, and Miscellaneous 

Equipment ..... 12,370.69 



Total charges, .... #99.39 ! 90 

Credits. 
Equipment sold, destroyed and transferred, 614.00 



Net increase of account for the year, $98,777.90 



ELECTRIC LINE EQUIPMENT. 

Charges. 

Wiring Tracks underground, . . . $55,244.28 

Poles, and setting same, .... 115,613.24 

Overhead Electric Equipment, . . 81,846.13 

Feeder Lines, 118,512.57 

Tools and Equipment for Line construction, 5, 173.37 



Total account for the year, . . $376,389.59 



24 
POWER STATION EQUIPMENT. 

Charges. 

Central Power Station — Steam and Elec- 
trical Equipment, .... $688,038.55 

Allston Power Station — Steam and Elec- 
trical Equipment, .... 75-54 

E. Cambridge Power Station — Steam and 

Electrical Equipment, .... 280,930.02 



Total charges, ....... $969,044.11 

Credits. 

Electrical Equipment — Camb. Electric Lt. 

Co's Station, 16,684.51 



Net increase of account for the year, $952,359.60 



EQUIPMENT OF ELECTRIC CAR HOUSES AND SHOPS. 

Charges. 

Machinery, tools and miscellaneous equip-*? 

ment at Electric Car houses and shops, $99.98957 



Sixth Annual Report 



OF THE 



West End Street Railway Company. 



1893. 



SIXTH ANNUAL REPORT 



OF THE 



West End Street Railway Company, 



For the Year Ending September 30, 1893. 



Boston : 

PRESS OF H. G. COLLINS. 

1893. 



DIRECTORS AND OFFICERS. 

1892- 1893. 



G. T. W. Braman. 
Isaac T. Burr. 
Prentiss Cummings. 
Joseph S. Fay, Jr. 
Eustace C. Fitz. 
Walter Hunnewell 
Henry D. Hyde. 



DIRECTORS. 

(ELECTED NOVEMBER, 1 892.) 

Henry M. Whitney. 

E. D. Jordan. 
Samuel Little. 
William Powell Mason. 
Theophilus Parsons. 
Dexter N. Richards. 
Walter S. Swan. 
Nathaniel Thayer. 



EXECUTIVE COMMITTEE. 



Walter Hunnewell. 
Henry D. Hyde. 



Samuel Little. 
Theophilus Parsons. 



CLERK OF CORPORATION. 

Prentiss Cummings. 



Henry M. Whitney 
Prentiss Cummings 
C. S. Sergeant 
J. H. Goodspeed . 
H. L. Wilson 



OFFICERS. 

(Resigned Sept. 7, 1893) 



President. 
Vice-President. 
General Manager. 
Treasurer. 
Auditor. 



West End Street Railway Company. 



SIXTH ANNUAL REPORT. 



Boston, Nov. i, 1893. 
To the Stockholders : 

Your directors submit the following statement and report, covering 
the operations of your Railway for the year ending Sept. 30, 1893. 

Gross Earnings . . (Increase, $375,372.90) $6,692,578.07 

Operating Expenses . (Increase, 72,951.66) 4,550,734.68 



Net Earnings . . , (Increase, 302,421.24) $2,141,843.39 

Taxes $321,501.68 

Interest and Rentals of Leased Roads 368,277.16 



Total fixed charges ..... 689,778.84 



Balance available for Dividends, .... $1,452,064.55 

Against which the dividend charges were as follows : 
8 per cent Dividend on Preferred 

Stock .... $512,000.00 
Jan. 1. 5 per cent Dividend on 

Common Stock . . 454,250.00 

July 1. 4 per cent Dividend on 

Common Stock . . 363,400.00 



Total dividend charges .... 1,329,650.00 



Balance of net income carried to surplus account . $122,414.55 



At the close of the year about five sixths of all the mileage, 
namely, 1,325,000 miles per month, was run by the electric 
system. It is expected that during the coming year that system will 
be so extended as to cover most of the important lines. 

The Board of Directors have undiminished confidence in the 
electric system ; and the increased riding, wherever it is introduced, 
proves clearly that the public consider it a great improvement over 
horse power. This fact and the comparative cheapness of operation, 
in the opinion of the Directors, justify the large expense involved in 
the introduction of the system. 

To meet this expense and fund a floating debt incurred for con- 
struction, the Company has authorized the issue during the past year 
of 5 % ten year bonds to the amount of $3,000,000. All have 
been sold, and bonds to the amount of $2,500,000 have been delivered 
and paid for, and the remaining $500,000 are by contract to be de- 
livered and paid for on or before Jan. 1, 1894. The loss on horses, 
real estate, and cars involved in the change, to the amount of $251,- 
313.60, has been charged off during the year either against the sur- 
plus or against the earnings, as is detailed more particularly in the 
Auditor's statement hereto annexed. In pursuance of a conservative 
policy, your directors decided to reduce the semi-annual dividend paid 
July I, from 5 to 4%. 

The business of the Company has been prosperous during the 
past year, the average increase of a thousand dollars a day over the 
preceding year being more than maintained. Since Aug. I, however, 
the effect of the financial difficulties in which the country has been 
involved has appeared in the receipts, which since that time have been 
just about equal to last year. 

Mr. Henry M. Whitney, who had been President of the Company 
since its organization, resigned Sept. 7, 1893, owing to the pressure of 
business in large interests wherein he is engaged. 



Full particulars of the financial condition of the Company, and of 
its operations during the year, will be found in the accompanying 
reports of the Treasurer and Auditor. 

Respectfully submitted, 

PRENTISS CUM MINGS, Vice-President. 

For the Board of Directors. 



TREASURER'S REPORT. 



To the President and Directors of the West End Street Railway 
Company: 

I herewith submit Statements of the business of the Company 
for the fiscal year, ending Sept. 30th, 1893. 

A. General Balance Sheet. 

B. Income Account. 

C. Surplus Account. 

Yours respectfully, 

J. H. GOODSPEED, 

Treasurer. 
Boston, Nov. i, 1893. 



8 
A. 

GENERAL BALANCE SHEET 

CONSTRUCTION, EQUIPMENT, AND REAL ESTATE. 



Construction . 

Real Estate . 

General Equipment 

Horses (2,123) 

Cars (826) 

Electric Cars (1,346) 

Electric Line Equipment , 

Electric Car House and Shop Equipment 

Power Station Equipment 



$6,076,760.31 

7,315,153.06 

512,614.57 

284,482.00 

690,448.06 

4,318,988.91 

1,276,417.67 

166,81 1.02 

1,845,853.39 



Total Cost of Road, Equipment, and Real Estate, $22,487,528.99 



SUNDRY ITEMS. 



Maiden & Melrose Railroad Co. 
Somerville Horse Railroad Co. 
Furniture and Fixtures 
Stocks and Bonds . 
Track Improvement 

Total Sundry Items . 



$214,519.83 

82,353.61 

19,978.24 

75,100.00 

192,190.22 



584,141.90 



CASH ASSETS. 

Cash ...... 

Material and Supplies 

Notes and Accounts Receivable 

Insurance, present value . 

Total Cash Assets and Accounts 
Total Assets 



$738,654.39 

472,609.42 

255,822.68 

3MI4-37 



1,498,200.86 
$24,569,871.75 







A. 




SEPTEMBER 30, 1893. 




CAPITAL STOCK. 




Common Stock 


$9,085,000.00 




Preferred Stock 


6,400,000.00 




Total Capital Stock . 


. $15,485,000.00 


FUNDED DEBT. 




Bonds Metropolitan R. R. due in 


1897,6% $500,000.00 






' Metropolitan R. R. due in 


i9°3> 5 % 500,000.00 






' Middlesex R. R. due in 


1897,6% 200,000.00 






' . Middlesex R. R. due in 


1904,5% 200,000.00 






' Highland St. Ry. due in 


1898,6% 100,000.00 






' Highland St. Ry. due in 


1902,5% 300,000.00 






' Boston Con. St. Ry. due in 


I 9°7. 5% 500,000.00 






' So. Boston H. Ry. due in 


I 9°5>5% 200,000.00 






' Cambridge R. R. due in 


I 9°3>5% 600,000.00 






Cha's River St. Ry. due in 


1904, 5 % 150,000.00 






' West End St. Ry. due in 


1902, 5 % 2,500,000.00 




Mortgage Notes 


940,000.00 




Total Funded Debt . 


. 


6,690,000.00 


CURRENT LIABILITIES. 




Notes Payable 


$1,219,700.00 




Current Bills (including taxes for 


1893 


• 


audited, but not yet due, $321,501.68) 653,597.14 




Unpaid Wages 


71,929.36 




Coupon Interest uncalled for . 


24,472.50 




Dividends uncalled for 


8,925.00 




Outstanding Tickets and Checks 


11,520.07 




Total Current Liabilities . 


. 


1,990,144.07 



SUNDRY ITEMS. 

Accrued Interest not yet due . . $93,041.67 

Accrued Rentals not yet due . . 3,825.00 

Accrued Preferred Dividend, to Sept. 30, '93, 1 28,000.00 

Total Sundry Items ..... 224,866.67 

PROFIT AND LOSS. 

Surplus ......... 179,861.01 

Total Liabilities .... $24,569,871.75 



IO 

B. 

INCOME ACCOUNT FOR THE YEAR 



DEBIT. 

Operating Expenses 

Taxes (equivalent to $404.40 per car on average 

number of cars in use) 
Coupon Interest . 
Miscellaneous Interest 
Rentals of Leased Roads . 
Preferred Stock Dividends 
Common Stock Dividends . 
Balance carried to Surplus Account 



$4,550,734.68 

321,501.68 
251,08774 
105,200.34 
1 1,989.08 
512,000.00 
817,650.00 
122,414.55 



$6,692,578.07 



1 1 
B. 



ENDING SEPTEMBER 30, 1893. 



CREDIT 

Gross Earnings 

From Passengers 
" Sales of Manure 
" Rent of Tracks 

Rents of Real Estate 
" Advertising 
" Miscellaneous Income 



$6,616,607.27 
7,809.88 

15,537-27 

19,380.26 

31,326.21 

1,917.18 



$6,692,578.07 



$6,692,578.07 



12 

c. 

SURPLUS ACCOUNT FOR THE YEAR 



CREDIT. 

1892. 

Sept. 30. By Balance from previous year 
1893. 
Sept. 30. 

By Balance of net income for the year in excess of 
charges and dividends, as per Statement B 



$336,284.97 



122,414.55 



$458,699.52 



13 
C. 

ENDING SEPTEMBER 30, 1893. 

DEBIT. 

1893. 

Sept. 30. To value of buildings removed 
and destroyed during the 
year .... $37,952.60 

To loss on decrease of 1,631 

horses during the year . 147,051.00 

To value of old track taken up 
during year and not re- 
placed, now written off . 27,524.91 
To depreciation in car equip- 
ment charged off . . 66,310.00 
" " To credit balance carried to 

next year . . . 179,861.01 



$458,699.52 



AUDITOR'S REPORT 



For the Year Ending September 30, 1893. 



17 

Boston, Nov. i, 1893. 

To the President and Directors of the West End Street Railway Co. : 

Gentlemen, — The following report of the operations of the West 
End Street Railway Company for the fiscal year ending Sept. 30, 
1893, is respectfully submitted. 

H. L. Wilson, Auditor. 



EARNINGS AND EXPENSES. 

Gross Earnings. 



From Passengers 
Rent of Tracks 
Sales of Manure 
Rent of Real Estate 
Advertising 
Miscellaneous Income 

Total 



$6,616,607.27 

15.537-27 
7,809.88 

19,380.26 

31,326.21 

1,917.18 



Increase over 
Previous Y*ar 

$378,960.99 

2,1 14.64 

*5,ni.o5 

*2,I29.22 
1,936.69 

*399-i5 



$6,692,578.07 $375,372-90 



Operating Expenses. 



For General Expenses 
Maintenance of Track 
Maintenance of Buildings 
Maintenance of Cars and Vehicles 
Maintenance of Horse Equipment 
Maintenance of Electric Equipment 
Road and Snow Expense 
Transportation Expenses 
Injuries and Damages 

Total . 

Net Earnings 



$401,192.85 

281,015.19 

66,440.99 

298,068.46 

51,101.15 

343,073.28 

198,247.19 

2,691,273.55 

220,322.02 



$37,476.36 
42,224.98 
12,890.78 
78,329.52 

*i7i,3o8.54 
86,151.41 

64,769-35 

*9I,429.22 

13,847.02 



$4,550,734.68 $72,951.66 



$2,141,843.39 $302,421.24 



* Decrease. 



247.832 


miles 


8.461 


t ( 


256.293 


i i 


1-954 


(i 


254-339 


1 1 


1 1-705 


i 4 


2.294 


a 



18 

MILEAGE OF TRACK. 

Changes during the year have been as follows : 

Total track owned Sept. 30, 1892 . 
Additions for extensions during the year 

Total 

Reductions for tracks taken up during the year 
Net length of track owned Sept. 30, 1893 

Operated under leases ..... 
" under trackage privileges . 

Total track operated Sept. 30, 1892 . . 268.338 

which is made up as follows : 

Length of main line . . . 150. 179 miles. 

" of second track . . . 90.862 " 

" of sidings, car-house curves, 

cross-overs, etc. . . 6.813 " 

" of track in car houses and 

yards .... 20.484 
Total 268.338 

The total length of track unpaved is 6.43 

The total length of track built with heavy girder 

rail is ....... . 129.22 

The weight of girder rail is from 50 lbs. to 100 lbs. per yard. 

Miles of track completely equipped with electric overhead 
system ......... 

Miles of track partially equipped (underground wiring only) 

Miles of track partially equipped (poles only) . 

Miles of track partially equipped (underground wiring and 
poles only) ........ 

Miles of electric feeder lines ...... 



182.521 


13-033 


8.256 


4143 


377-439 



19 
PASSENGER TRAFFIC STATISTICS 

are as follows : 
Round Trips run ........ 2,303,462 



Revenue Miles run 

Revenue Passengers carried 

Passenger Receipts 

Average Receipts per Passenger . 



18,669,809 

133,863,618 

$6,616,607.27 

4.943 cents. 



MILEAGE OF ELECTRIC CARS AND HORSE CARS. 

The revenue miles run during the year were as follows : 
Double Motor Electric Cars . . . 8,076,466 

Single " " " . , 6,144,381 



Total mileage of Electric Cars . 14,220,847 = 76.17 % 
Mileage of Horse Cars .... 4,448,962= 23.83 " 



Total ...... 18,669,809= 100.00 % 



PASSENGER RECEIPTS OF ELECTRIC CARS AND 

HORSE CARS. 

The passenger receipts for the year were as follows : 
From Electric Cars .... $5,315,266.30= 80.33 % 

From Horse Cars .... 1,301,340.97 = 19.67 " 



$6,616,607.27 = 100.00 % 



20 

RECONSTRUCTION OF TRACKS. 

The length of tracks rebuilt with heavy girder rail during 
the year amounts to 9.9767 miles, the rail mainly 
used weighing 78 or 100 pounds to the yard; tram 
rail track to the amount of 19.3216 miles has also 
been reconstructed in a manner to adapt it to the use 
of Electric Cars. The total cost of this work has been, $267,015.47 

which has been provided for as follows : 

Charged to Construction account for betterment of 
tracks, as per permission granted by the Railroad 
Commissioners-, as a part of the expenditures neces- 
sary for the equipment of the road with electric power, 
9.9767 miles, at $7,500 per mile .... 74,825.25 



Balance charged to Track Improvement account, to be 

later written off against Earnings .... $192,190.22 



CONSTRUCTION ACCOUNT. 

This account has been charged during the year with the 
cost of construction of 8.4613 miles of new tracks, 
with engineering and other general expenses of con- 
struction and electric construction, and with the 
estimated betterment from the heavy girder rails laid 
upon 9.9767 miles of track rebuilt for use of electric 
cars, the total charge being ..... $189,752.94 

Credit has been given for 1.9544 miles of tracks taken 

up 33,578.45 



Net increase of this account for the year . . $156,174.49 



21 

REAL ESTATE ACCOUNT. 

Charges. 

Sundry purchases of property for Car Stations, etc. . $27,421.53 

Expended upon Construction of Central Power Station ., 55,450.27 
Expended upon Construction of East Cambridge Power 

Station 13.050.35 

New car houses, and additions to existing Car Houses to 

adapt them to use of Electric Cars .... 108,608.10 

Total charges ...... $204,530.25 



Credits. 

Received from sale of Land and Buildings . . . $194,328.66 
Credit for Buildings removed and destroyed during the 

year ......... 37,952.60 

Total credits $232,281.26 

Net reduction of Real Estate for the year . . . $27,751.01 



EQUIPMENT ACCOUNT— HORSES. 

No charges have been made during the year. 
Credit has been given. 
For decrease in number of horses owned, 

1,631 horses @ $134 $218,554.00 



22 

EQUIPMENT ACCOUNT. 

Horse Cars. 
No charges have been made during the year. 

CREDITS. 

39 box cars and 161 open cars converted to electric 
cars, and 1 1 5 box horse cars used for long cars and 

transferred to that account ..... $168,700.00 

24 box cars and 60 open cars sold, 1 destroyed, and 

material removed or destroyed .... 24,443.94 

Depreciation charged off ...... 3 5 ,5 3 8. OO 

Net reduction of horse car account . . . $228,681.94 



EQUIPMENT ACCOUNT. 

Electric Cars, 
charges. 

This account has been charged with value of 39 box 
cars and 161 open cars transferred from horse car 
equipment ........ $96,825.00 

Also with cost of 135 twenty-foot box and 50 nine-bench 
open electric motor car bodies, 668 motors and elec- 
tric equipments, 513 trucks, and 1,088 sets fenders, 1,248,588.33 

Total charges $1,345,413.33 

CREDITS. 

21 box and 18 open electric car bodies, 377 motors, and 

21 trucks sold ....... $208,569.72 

8 box and 20 open electric car bodies, and 28 trucks 

burned ......... 25,310.34 

Depreciation charged off ...... 30,772.00 

Total credits ....... $264,652.06 

Net increase of account for the year . . $1,080,761.27 



23 

GENERAL EQUIPMENT. 
CHARGES. 

Snow Equipment — Amount expended for 

Electric Snow Equipment , . . . $27,653.69 

New Vehicles — 3 Tower Wagons, 1 Ex- 
press Wagon, 2 Coal Carts, and 1 Reel 
Wagon ...... 1,730.00 

New Machinery, Tools, and Miscellaneous 

Equipment ...... 4,993.47 

Total charges ....... $34,377- 16 

CREDITS. 

Motors removed from electric snow equip- 
ment ....... $57,500.00 

Snow plows and miscellaneous equipment 

burned ....... 3,322.15 

Equipment sold, destroyed, and transferred . 17,857,48 

Total credits . ... . . . . 78,679.63 

Net decrease of account for the year . . $44,302.47 

ELECTRIC LINE EQUIPMENT. 

CHARGES. 



Wiring Tracks underground 

Poles, and Setting same 

Overhead Electric Equipment 

Feeder Lines ..... 

Tools and Equipment for Line Construction 

Total addition for the year 



$45,818.48 
59,315.06 

39.231.14 
157,519.66 

1,095.45 



$302,979.79 



24 

POWER STATION EQUIPMENT. 

CHARGES. 

Central Power Station — Steam Equipment, including 
6 batteries of Boilers, Smoke Flues, Economizers, 
Feed and Steam Piping, etc. ..... $i 72,337.7 1 

Central Power Station — Electrical Equipment, includ- 
ing 18 large Generators, Armatures, and Miscella- 
neous Electrical Equipment ..... 244,828.53 

E. Cambridge Power Station — Steam Equipment, 

including Main Shafting, Piping, etc. . . . 80,874.69 

E. Cambridge Power Station — Electrical Equipment, 
including 7 large Generators and Miscellaneous 
Equipment ........ 84,993.66 

Total charges ...... $583,034.59 

CREDITS. 

Central Power Station — Steam Equipment, Shafting 

transferred ........ $70,245.00 

Central Power Station — Electrical Equipment, 52 

small Generators sold ...... 107,977.82 

Total credits ...... $178,222.82 

Net charge to this account for the year . . . $404,81 1.77 



EQUIPMENT OF ELECTRIC CAR HOUSES AND SHOPS. 



CHARGES. 



New Machinery, Tools, and Miscellaneous Equipment 

at Electric Car Houses and Shops .... $66,821.45 



25 

EQUIPMENT. 

September 30, 1893. 



Box Cars, Horse 



Open 
Box 



Open 



Electric, 16-foot bodies 



Motor 



Horses 



20 



25 



(i << 



<< 11 



7 or 8 benches 

9 
10 



Electric Motors 



Snow Plows, Horse 



" Electric 



Sleds 



Miscellaneous Vehicles 



524 
302 
119 
164 

437 

527 
5o 

47 
2 

2,123 

1,657 

83 

84 

372 

548 



Seventh Annual Report 



OF THE 



W es t E n d Street Railway Company, 



1894. 



SEVENTH ANNUAL REPORT 



OF THE 



West End Street Railway Co. 



For the Year Ending September ?o, 1894. 



BOSTON : 
PRESS OF WALKER, YOUNG & CO. 

I894. 



DIRECTORS AND OFFICERS. 

1893 — 1894. 



DIRECTORS. 

(EJECTED NOVEMBER, 1 893.) 

Samuel Little. 



Alfred Bowditch. 
G. T. W. Braman. 
Eustace C. Fitz. 
F. L. Higginson. 
Wm. Hooper. 
Walter Hunnewell. 
Henry D. Hyde. 



E. D. Jordan. 
Theophilus Parsons. 
Samuel Spencer. 
Walter S. Swan. 
B. Rodman Weld. 
Henry M. Whitney. 
Alfred Winsor. 



EXECUTIVE COMMITTEE. 



Walter Hunnewell. 
Henry D. Hyde. 



F. E- Higginson. 
Theophilus Parsons. 



CLERK OF CORPORATION. 
Prentiss Cummings. 



OFFICERS. 



Samuel Little 
Prentiss Cummings 
C. S. Sergeant 
J. H. Goodspeed 
H. L. Wilson 



President. 
Vice- President. 
General Manager . 
Treasurer. 
Auditor. 



J 

West End Street Railway Company. 



SEVENTH ANNUAL REPORT. 



Boston, Nov. i, 1894. 
To the Stockholders : 

Your directors submit the following statement and report, covering 

the operations of your Railway for the year ending Sept. 30, 1894. 

Gross Earnings ... .... (increase, $131,301.02) $6,823,879.09 

Operating Expenses .... (Increase, 256,348.42) 4,807,083.10 

Net Earnings (Decrease, 125,047.40) $2,016,795.99 

Taxes $280,167.08 

Interest and Rentals of Deased Roads 444,897.37 

Total fixed charges 725,064.45 

Balance available for Dividends $1,291,731.54 

Against which the dividend charges were as follows : 
8 per cent Dividend on Preferred 

Stock , . . . $512,000.00 

Jan. 1. 3 per cent Dividend on 

Common Stock 272,550.00 

July 1. 3 per cent Dividend on 

Common Stock 272,550.00 1,057,100.00 

Balance of income 234,631.54 

Against which is charged 
i>2 per cent Dividend on Common 

Stock, to be paid Oct. 1 . . 136,275.00 

Balance of net income carried to surplus account ■ . . $98,356.54 



Owing to the general business depression only a comparatively 
small increase in the Gross Earnings is shown; while the Operating 
Expenses show an increase of $256,348.42. This is more than ac- 
counted for by having included the Track Improvement Account of last 
year, amounting to $192,190.22, and similar work performed during this 
year amounting to $80,617.64, or a total increase on this account alone 
of $272,807.86. 

It has been thought best by the Directors to change the dates of 
paying the Common Stock Dividend from January 1st and July 1st to 
April 1st and October 1st, in order that the Dividend Year may agree 
with the Fiscal Year of the Company ; and three months dividend was 
declared payable October 1st, as shown on the previous page. 

At the close of the year 93% of the mileage, namely about 1,770,000 
miles per month, was run by the electric system, and the equipment of 
the larger part of the balance is rapidly progressing. 

During the year the Brookline lines have all been electrically 
equipped, and some of them extended, and at present a new car house 
with a capacity for 36 cars is nearly completed. 

The lines running to both Maiden and Medford are now being 
operated by electric power, and a new car house has been erected on 
Salem St., Medford, with a capacity for 56 cars. 

The new tracks on Mt. Auburn St., in Cambridge, were completed 
and electric lines opened from Newton and Mt. Auburn, and the new 
car house at the latter place is now being used. 

The East Boston Division is being equipped electrically, the tracks 
having been rebuilt and the overhead lines constructed, and it is now 
nearly ready for operation with the exception of the completion of the 
Power Station. It is expected that electric power will be inaugurated 
on this line by the middle of December. A power house, and a new 
car house with a capacity for 48 cars, are being erected at Eagle Sq., 
for this Division. Important additions have also been made to the 
Reservoir and Summer Street car houses. 



The Company sold during the year, $2,000,000 4^2%, 20 year 
Bonds, with the proceeds of which the entire floating debt has been 
retired, and at present there is cash enough on hand to cover the 
expense of finishing the electric equipment now under way, and con- 
templated. 

Full particulars of the financial condition of the Company, and of 
its operation during the year, will be found in the accompanying 
reports of the Treasurer and Auditor. 

Respectfully submitted, 

SAMUEL LITTLE, President. 
For the Board of Directors. 



TREASURER'S REPORT. 



To the President and Directors of the West End Street Railway 
Company : 

I herewith submit Statements of the business of the Company 
for the fiscal year, ending Sept. 30th, 1894. 

A. General Balance Sheet. 

B. Income Account. 

C. Surplus Account. 

Yours respectfully, 

J. H. GOODSPEKD, 

Treasurer. 
Boston, Nov. i, 1894. 



8 

A. 

GENERAL BALANCE SHEET 

CONSTRUCTION, EQUIPMENT, AND READ ESTATE. 

Construction $6,135,484.46 

Real Estate 4,667,552.03 

Power Stations (buildings and equipment) 3,203,270.91 
Electric Car Houses and Shops (buildings 

and equipment) 1,563,086.90 

Electric Line Equipment 1,480,716.99 

Cars(2,ii5) 5,119,972.74 

Horses (1,223) • • • • 163,882.00 

General Equipment 548,464.18 

Total Cost of Road, Equipment, and Real Estate, $22,882,430.21 

SUNDRY ITEMS. 

Maiden & Melrose Railroad Co. . , . $214,519.83 

Somerville Horse Railroad Co 294,481.73 

Funiture and Fixtures 15,178.24 

Stocks and Bonds 75,100.00 

Track Improvement 82,320.35 

Total Sundry Items ■ • . ,. . . 681,600.15 

CASH ASSETS. 

Cask on Hand and in Bank • $1,313,100.06 

Cash with Trust Co. for Dividend to be 

paid Oct. 1. 136,275.00 

Material and Supplies 365,007.53 

Accounts Receivable 185,914.57 

Insurance - 15,522.84 

Total Cash Assets and Accounts 2,015,820.00 

Total Assets . . . - $25,579,850.36 



A. 



SEPTEMBER 30, 1894. 



CAPITAL STOCK. 



Common Stock 
Preferred Stock 



£9,085,000.00 
6,400,000.00 



Total Capital Stock $15,485,000.00 



Bonds Metropolitan R. R. 

Metropolitan R. R. 

Middlesex R. R. 

Middlesex R. R. 

Highland St. Ry. 

Highland St. Ry. 

Boston Con. St. Ry. 

So. Boston H. Ry. 

Cambridge R. R. 

Cha's. River St. Ry. 

West End St. Ry. 

West End St. Ry. 
Mortgage Notes . . . . 

Total Funded Debt 



FUNDED DEBT 

due in 1897, 6% 
due in 1903, 5% 
due in 1897, 6% 
due in 1904, 5% 
due in 1898, 6% 
due in 1902, 5% 
due in 1907, 5% 
due in 1905, 5% 
due in 1903, 5% 
due in 1904, 5% 
due in 1902, 5% 
due in 19 14, \\°Jo 



$500,000.00 
500,000.00 
200,000.00 
200,000.00 
100,000.00 
300,000.00 
500,000.00 
200,000.00 
600,000.00 
150,000.00 
3,000,000.00 
2,000,000.00 
925,000.00 



CURRENT LIABILITIES. 

Current Bills $ 96,643.86 

Taxes (audited but not yet due,) .... 261,513.54 

Unpaid Wages 79,017.39 

Coupon Interest uncalled for ....... 29,550.00 

Dividends uncalled for 12,443.00 

Outstanding Tickets and Checks .... 13,615.09 

Total Current Liabilities , 

SUNDRY ITEMS. 

Accrued Taxes not yet due $ 18,653.54 

Accrued Interest not yet due 110,958.34 

Accrued Rentals not yet due 3,825.00 

Accrued Preferred Dividend, to Sept. 30/94 128,000.00 
Common Dividend -to be paid Oct. 1, '94 136,275.00 
Total -Sundry Items .... • 



PROFIT AND LOSS. 



Surplus 



9,175,000.00 



492,782.88 



397,711.88 



Total Liabilities 



29,355-6o 

$25,579,850.36 



IO 

B. 

INCOME ACCOUNT FOR THE YEAR. 

DEBIT. 

Operating Expenses $4,807,083.10 

Taxes 280,167.08 

Coupon Interest 370, 959.73 

Miscellaneous Interest .62,040.36 

Rentals op Leased Roads 11,897.28 

Preferred Stock Dividends • 512,000.00 

Common Stock Dividend, paid January 1st, 1894 . . . 272,550.00 

" July 1st, "... 272,550.00 

" to be paid October 1 st, " ... 136,275.00 

Balance carried to Surplus Account 98,356.54 



$6,823,879.09 



1 1 

B. 

ENDING SEPTEMBER 30, 1894. 

CREDIT. 

Gross Earnings $6,823,879.09 

FVom Passengers . • * $6,734,311.12 

Sales of Manure 5,007.65 

Rent of Tracks 28,398.22 

Rents of Real Estate ...... 21,082.22 

Advertising 34,158.21 

Miscellaneous Income 921.67 



$6,823,879.09 



12 



c. 



SURPLUS ACCOUNT FOR THE YEAR 



1.894. 

Sept. 30. 

< ( a 

< 1 11 



DEBIT. 

To book value of old track taken up during 

year and not replaced, now written off . . $68,861.95 

To discount on Bonds . • 180,000.00 

To credit balance carried to next year .... 29,355.60 



5278,217.55 



13 

c. 

ENDING SEPTEMBER 30, 1894. 

CREDIT. 
1893. 

Sept. 30. By Balance from previous year 

1894. 

Sept. 30. 

» 

By Balance of net income for the year in excess of 
charges and dividends, as per Statement B 



$179,861.01 



98,356.54 



5278,217.55 



14 



MEMORANDUM OF STOCKHOLDERS SEPTEMBER 30th, 1894, 



State of 

Massachusetts 
California . . 
Colorado . . 
Connecticut • . 
Dist. of Columbia 
Florida . 



Georgia . 

Illinois . 

Indiana . 

Kansas . 

Kentucky 

Louisiana 

Maine . 

Maryland 

Minnesota 

Missouri 

Michigan 

Nebraska 

New Hampshire 

New Jersey . . 

New York . . 

Ohio 

Pennsylvania • 
Rhode Island . 
South Carolina 

Utah 

Vermont • • • 



Virginia • • • 
Washington . . 
Wisconsin . . 
Foreign Countries 



No. of holders 
Preferred Stock. 

3-175 
4 

2 

i5 
9 
3 



i 

2 

I 

69 
2 

3 
3 
3 

153 

4 

49 

3 

15 

43 

3 

1 

12 

2 

2 
19 



3,6n 



No. of Stockholders as Trustees . 
Amount of stock held by Trustees 
No. of Women Stockholders . . 
Amount of Stock held by Women 



No. Shares 
held. 

IT4,l68 

50I 

90 

492 

28l 

19 



14O 

25 

6 

60 

2,235 

35 

27 
242 

90 

3,3i2 

47 
2,927 

147 

214 

i,844 

17 

3i 

343 

18 

15 
•674 

I 2N,000 

Preferred. 



No. of holders 
Common Stock. 

3,Ol8 
2 
I 

29 
2 

I 
I 

9 

1 
2 

3 



47 
1 



1 

1 
101 

4 
65 

5 

19 
65 



3,399 



47i 
23,256 shares. 

1,677 
38,364 shares. 



No. Shares 
held. 

163,383 

40 

45 
1,198 

3 

10 
40 

J 74 

2 

97 
14 

1,041 
50 



10 

60 

2,001 

402 

7,946 

525 
1,308 

2,592 



9 115 

1 10 

1 11 

3 36 

7 587 

181,700 

Common. 
8l 

5,797 shares. 
1,164 
24,737 shares. 



AUDITOR'S REPORT 



For the Year Ending September jo, 1894. 



17 

Boston, Nov. i, 1894. 
To the President and Directors of the West End Street Railway Co.: 

GenteEmen, — The following report of the operations of the West 

End Street Railway Company for the fiscal year ending Sept. 30, 1894, 

is respectfully submitted. 

H. I,. WlESON, Auditor. 

EARNINGS AND EXPENSES. 
Gross Earnings. 

Increase over 
Previous Year 

From Passengers $6,734,311.12 $117,703.85 

Rent of Tracks 28,398.22 12,860.95 

Sales of Manure 5,007.65 *2,8o2.23 

Rent of Real Estate 21,082.22 1,701.96 

Advertising 34,158.21 2,832.00 

Miscellaneous Income. •" 921.67 *995-5i 

Total • . $6,823,879.09 $131,301.02 

Operating - Expenses. 

For General Expenses $418,874.16 $17,681.31 

Maintenance of Track t536,i77-i3 255,161.94 

Maintenance of Buildings 41,796.10 *24,644.89 

Maintenance of Cars and Vehicles . . 408,701.18 110,632.72 

Maintenance of Horse Equipment . . . 130,225.74 79,124.59 

Maintenance of Electric Equipment . 356,833.46 13,760.18 

Road and Snow Expense 164,458.94 *33,788.25 

Transportation Expenses 2,510,016.39 *i8i,257.i6 

Injuries and Damages . . • 240,000.00 19,677.98 

Total t $4,807,083.10 $256,348.42 

Net Earnings $2,016,795.99 *$i25,o47.4o 

*Decrease. 

flncludes the charge to Track Improvement account last year of $192,190.22, and similar work 
performed during this year amounting to $80,617.64 or a total of $272,807.86. 



i8 



MILEAGE OF TRACK. 

Changes during the year have been as follows : 

Total track owned Sept. 30, 1893 2 54-339 miles. 

Additions for extensions during the year .... 10.477 " 

Total 264.816 " 

Reductions for tracks taken up during the year . • 3.482 

Net length of track owned Sept. 30, 1894 . . . 261.334 " 

Operated under leases • 9.266 " 

under trackage privileges 2.294 " 

Total track operated Sept. 30, 1894 272.894 

which is made up as follows : 

Length of main line 151.243 miles. 

of second track 93-537 

" of sidings, car-house curves, 

cross-overs, etc. . . » . . 7-189 
" of track in car houses and 

* yards 20.925 

Total 272.894 " 

The total length of track unpaved is 7.86 " 

The total length of track built with heavy girder rail is i43-°7 

The weight of girder rail is from 50 lbs. to ioojlbs. per yard. 

Miles of track completely equipped with electric overhead 

system •...-. 212.466 

Miles of track partially equipped (underground wiring only ) 24.829 

Miles of track partially equipped (underground wiring and 

poles only) .606 



19 
PASSENGER TRAFFIC STATISTICS 

are as follows : 

Round Trips run 2 '3 I 9»377 

Revenue Miles run 19,240,486 

Revenue Passengers carried 137,028,449 

Passenger Receipts . . . .• $6,734,311.12 

Average Receipts per Passenger 4-9*4 cents. 



MILEAGE OF ELECTRIC CARS AND HORSE CARS. 

The revenue miles run during the year were as follows : 

Double Motor Electric Cars , . 10,436,329 

Single " " '.' 6,327,665 

Tow , " " . 30,967 

Total mileage of Electric Cars . . . . 16,794,961 = 87.29 % 

Mileage of Horse Cars . , 2,445,525 = 12.71 % 

Total 19,240,486 = 100.00 % 



PASSENGER RECEIPTS OF ELECTRIC CARS AND 

HORSE CARS. 

The passenger receipts for the year were as follows : 

From Electric Cars $6,072,186.23 — 90.17 % 

From Horse Cars 662,124.89 = 9.83 % 

Total $6,734,311.12 = 100.00 °/o 



20 



RECONSTRUCTION OF TRACKS. 

The length of tracks rebuilt with heavy girder rail during 
the year amounts to 6.322 miles, the rail mainly used 
weighing 93 pounds to the yard ; tram rail track to the 
amount of 23.858 miles has also been reconstructed 
in a manner to adapt it to the use of Electric Cars. 
The total cost of this work has been, . . $210,352.99 

which has been provided for as follows : 

Charged to Construction account for betterment of tracks, 
as per permission granted by the Railroad Commis- 
sioners, as a part of the expenditures necessary for the 
equipment of the road with electric power, 6.322 miles, 
at $7,500 per mile 47,415.00 

Charged in the Expenses of this year 80,617.64 



Balance charged to Track Improvement account, to be 

later written off against Earnings $82,320.35 



CONSTRUCTION ACCOUNT. 

This account has been charged during the year with the 
cost of construction of 10.477 niiles of new tracks, and 
with the estimated betterment from the heavy girder 
rails laid upon 6.322 miles of track rebuilt for use of 
electric cars, the total charge being $172,586.10 

Credit has been given for book value of 3.482 miles of 
tracks taken up and engineering, and other general 
expenses written off 113,861.95 

Net increase of this account for the year $58,724.15 



21 

REAL ESTATE ACCOUNT. 

Charges. 

Sundry purchases of. property for Power Station, .Car 

Houses, etc $33>743-5° 

Credits. 

Transfer of cost of buildings, to Power Station account . $1,318,974.53 
" " " to Electric Car House and 

Shop account 1,354,798.50 

Received from sale of Eand and Buildings . • . . . . 5j57 i -5Q 
Credit for Buildings removed and destroyed during the 

year 2,000.00 

Total credits $2,681,344.53 

Net reduction of Real Estate for the year $2,647,601.03 



ELECTRIC EINE EQUIPMENT. 

CHARGES. 

Wiring Tracks underground $39,418.86 

Poles, and Setting same 46,194.90 

Overhead Electric Equipment . 25,222.44 

Feeder Eines • . . . . 93,463.12 

Total addition for the year $204,299.32 



22 

GENERAL EQUIPMENT. 
CHARGES. 

Snow Equipment — Amount expended for Electric Snow 

Equipment $55,729.15 

CREDITS. 

Harness sold or destroyed • $13,504.00 

Vehicles, machinery, tools and miscellaneous 

equipment sold, destroyed, and transferred 6,375.54 t 

Total credits 19,879.54 

Net increase of this account for the year $35,849.61 



EQUIPMENT ACCOUNT. 

CARS. 

CHARGES. 

This account has been charged with cost of 88 twenty-foot 
box electric motor car bodies, 200 motors and electric 
equipments, 151 trucks and 366 sets fenders . . . $258,730.16 

CREDITS. 

t 

Hook value of 24 box car bodies, 121 open car bodies, 

50 motors, and 8 trucks sold, destroyed or transferred 148, 194.39 

Net increase of account for the year $110,535.77 



23 



EQUIPMENT ACCOUNT— HORSES. 

No charges have been made during the year. 
Credit has been given. 
For decrease in number of horses owned. 

900 horses <cd $134 $120,600.00 



POWER STATIONS. 

CHARGES. 

Power Station Construction. Cost of buildings trans- 
ferred from Real Estate account (see page 21) . . . $1,318,974.53 

Expended during the year 6,342.16 

Power Station Equipment, including 18 large Generator 
Switchboards, and Miscellaneous Electrical Equip- 
ment ..... 32,100.83 

Total charge to this account for the year . . . . $1,357,417.52 

ELECTRIC CAR [HOUSES AND SHOPS- 

CHARGES. 

Amount transferred from the Real Estate account (see 

page 21) $1,354,798.50 

Amount expended on new car houses and additions to 
existing car houses to adapt them to use for Electric 
Cars 29,-286.96 

New Machinery, Tools, and Miscellaneous Equipment 

at Electric Car Houses and Shops 12,190.42 

Total charge to this account for the year .... $1,396,275.88 



24 
EQUIPMENT. 

S^PTBMBKR. 30, 1894. 

Box Cars, Horse 502 

Open " "...-. 104 

Box " Electric, 16-foot bodies • . . 115 

20 " " 254 

25 " " 437 

Open " " 7 or 8 benches 604 

9 " 50 

10 " 47 

Motor " " 2 

Horses 1,223 

Electric Motors • 1,842 

Snow Plows, Horse r 83 

" Electric 103 

Sleds 371 

Miscellaneous Vehicles 508 



Eighth Annual Report 



OF THE 



West End S^eet Railway Company. 



1895. 



EIGHTH ANNUAL REPORT 



OF THE 



West End Street Railway Co. 



For the Year Ending September 30, 1895. 



BOSTON : 
PRESS OF WALKER, YOUNG & CO. 



DIRECTORS AND OFFICERS. 

1894 — 189^. 



Alfred Bowditch. 
G. T. W. Braman. 

F. L. HlGGINSON. 

Wm. Hooper. 
Albert C. Houghton. 
Walter Hunnewell. 
Henry D. Hyde. 



DIRECTORS. 

(ELECTED NOVEMBER, 1894.) 

Samuel Little. 

E. D. Jordan. 
Theophilus Parsons. 
Samuel Spencer. 
Walter S. Swan. 
B. Rodman Weld. 



Henry M. Whitney. 

f 

Alfred Winsor. 



EXECUTIVE COMMITTEE. 



Walter Hunnewell. 
Henry D. Hyde. 



F. L. HlGGINSON. 

Theophilus Parsons. 



CLERK OF CORPORATION. 



Prentiss Cummings. 



OFFICERS. 



Samuel Little 
Prentiss Cummings 
C. S. Sergeant 
J. H. Goodspe£d 
H. L. Wilson 



President. 
Vice- President. 
General Manager. 
Treasurer. 
Auditor. 



West End Street Railway Company. 



EIGHTH ANNUAL REPORT. 



Boston, Nov. i, 1895. 

To the Stockholders : 

Your directors submit the following statement and report, covering 
the operations of your Railway for the year ending Sept. 30, 1895. 

Gross Earnings (Increase $922,291.68) $7,746,170.77 

Operating Expenses .... (Increase 826,080.09) 5,633,163.19 

Net Earnings (Increase $96,211.59) $2,113,007.58 

Taxes $325,288.49 

Interest and Rentals of Leased Roads 421,674.82 

Total fixed charges 746,963.31 

Balance available for Dividends $1,366,044.27 



Against which the dividend charges were as follows 



• 



8 per cent Dividend on Preferred 

Stock $512,000.00 

3 per cent Dividend on Common 

Stock, paid April 1 272,550.00 

3^ per cent Dividend on Common 

Stock, to be paid Oct. 1 . . . . 317,975.00 1,102,525.00 
Balance of income for the year $263,519.27 

Against which are charged value of tracks taken up, and 
bad debts, etc. written off, as shown in the Auditor's 
statement of surplus account 222,822.94 

Balance of net income carried to the surplus account . $40,696.33 



The general business of the company and the increase in the gross 
earnings, as shown by the preceding page, have been satisfactory. The 
Convention of the Christian Endeavor Society and the Conclave of the 
Knights Templars have added somewhat to this result. 

The demands of the business of the company and the construction 
of new avenues by the City of Boston and other cities and towns which 
are reached by our system have made the year a very active one in 
every department. The power houses of the Company had been used to 
their utmost capacity and large additions were required. 

Since the last annual report the power house, car house and the 
electrical equipment of East Boston has been completed, and has been 
in operation the larger part of the year ; and the results have been 
satisfactory. 

A new power house has been erected at Charlestown, and the 
machinery for the same is being installed and will soon be put in opera- 
tion. This station is 2000 H. P. with direct-coupled generators. 

An increase of power at the Central power station on Albany Street 
being necessary, plans were made for the extension of the house. Upon 
investigation it was found that the additional power required could be 
more advantageously secured by remodelling portions of the present 
machinery, and installing new machinery in the original house. A 
portion of this work only was undertaken the present year, and is now 
rapidly approaching completion: it consists of one new 2000 H. P. 
Engine and the alteration of two 1000 H. P. Engines to 1350 H. P. 
each, the same being changed from belt-driven to direct-connected 
generators. The estimate for this part of the work was $227,000, and 
although the change will furnish quite an additional power, yet, taken 
as a whole, it is in the nature of repairs and will be treated as an item 
of expense. It is expected that the remainder of the work contemplated 
will be commenced early the coming spring and completed during the 
early fall. An extension has been made to the boiler house of sufficient 
size to cover the requirements when the entire plant shall have been 
changed. There have already been installed four 500 H. P. boilers. 

New car houses have been constructed or are in process of con- 
struction as follows : 

Ashmont Street, Dorchester : Built on land purchased during the 
year for that purpose — having a capacity of 60 cars. 

Arlington Heights : Built on land purchased by the Company 
some two years since — with a capacity of 40 cars. 



Amory Street, Roxbury : Car house for 120 cars is being erected 
upon land purchased some four years since for that purpose. 

Oak Square, Brighton : Land has been purchased during this 
year, and a car house is being erected with capacity for 81 cars. 

Clarendon Hills, Somerville : Land has been purchased during 
this year and a car house is being erected with capacity for 48 cars. 

Near Forest Hills Station, West Roxbury: Land has been pur- 
chased during this year and a car house is being erected with a capacity 
of 106 cars. The building of this car house was made necessary 
through the taking by the City (tor the extension of Columbus Avenue) 
of a portion of the land at the corner of Washington and Seaver Streets, 
thereby destroying so much of the car house as to render it practically 
useless for the purposes of the Company. 

Quite extensive alterations and additions have been made to the car 
houses on Murray Street, Cambridge, Mt. Auburn Street, Cambridge, and 
Park Street, Dorchester, which has materially increased their capacity. 

At Bartlett Street and Washington Street, Roxbury, a brick build- 
ing is now being erected, to be used for emergency quarters, waiting- 
room and lobbies for the men. 

The Act of the Legislature compelling the placing of electric wires 
underground in a certain defined district of the city, affected this 
company to the extent of requiring all of its wires to be buried in the 
district named, except the trolley wires. The Act of the Legislature 
required the Commissioner of Wires to designate the sections of this 
district upon which work should be accomplished each year, which 
section could not be more than one-fourth nor less than one-sixth of the 
whole district. The work already completed exceeds the requirements 
of the Commissioner for the first two years. 2.24 miles of conduits 
containing 41 .07 miles of duct have been constructed, in which have been 
placed 23.31 miles of feeder cables and 13.93 miles of return feeders. 
The construction of the conduit and cable system takes the place of the 
overhead feeder wires. The cost of the conduits has been treated as an 
item of expense. 

A very complete testing house in which has been installed the 
most approved apparatus for testing wires, of sufficient capacity to 
cover any extensions to be made, has been erected upon property of the 
company at Albany Street. 



A contract has been made for electric heater equipments for the 
balance of the entire box-car equipment of the road, which will all be 
installed and in operation the coming winter. 

New track extensions have been made as follows : 

In Dorchester, from the old terminus to Ashmont Street. 

Norfolk Street, Dorchester, from Washington Street to Nelson Street. 

Meeting House Hill Line : Geneva Avenue to Washington Street. 

Sewall Street & Place, Brookline, from Cypress Street to new car 
house. 

From the old terminus at Arlington Heights to the new car house. 

Neponset Avenue, from old terminus to Neponset Bridge. 

From Main Street, Charlestown, to Cambridge Street, by the way 
of Caldwell, Perkins and Brighton Streets, to avoid the steam railroad 
crossing on the Union Square Dine at Fast Somerville. 

A new second track on Washington Street, Brighton, from Parsons 
Street to Oak Square. 

A track on Flm Street, Everett, from Ferry Street to Woodlawn 
Cemetery, has been rebuilt for use of electric cars. 

Tracks on Somerville Avenue and Elm Street, Somerville, have 
been rebuilt for the use of the electric cars. 

A new double track has been built on Holland Street and Broadway 
Somerville, from Davis Square to Clarendon Hills. 

A total new construction with girder track 4.68 miles. 

A total new construction with tram track 3.61 miles; and the 
necessary addition of tracks in car houses. 

Since the last annual report the following lines have been changed 
from horse to electric power. 

West Medford to Everett Square, which was opened as an electric 
line Nov. 8, 1894. Huron Avenue, Nov. 17, 1894: East Boston 
Dines, Dec. 11, 1894: Broadway, Cambridge, Dec. 22, 1894. Wood- 
lawn Cemetery, May 5, 1895. Harrison Avenue, June 11, 1895. 

As will be seen by the statements submitted in the report of the 
Auditor, large expenditures have been necessary for renewals and repairs 
of track and special work. Every year will bring an additional burden 
for such renewals and repairs. The immense traffic of our cars, with 
the heavy teaming and other wear to which it is subjected, makes the 
life of the best constructed track in many parts of the city of compara- 
tively short duration. 



The change from horse cars to electric, demands an entirely new 
equipment of cars and of track. The horse cars are slow of sale, and if 
sold at all, it must be at a price which is insignificant compared with 
the cost of electric cars. The cost of such change makes a large item 
of expense. 

The construction by the City of the several avenues, upon which 
the work has already been put under contract, will call for a large out- 
lay by this Company in the reconstruction and relocation of their tracks 
Huntington Avenue, from the railroad bridge to Brookline line, is to 
be widened, with a reservation for tracks in the centre of the avenue as 
widened. Upon a portion of this avenue our tracks have been built 
upon the new location and the cars are running upon the same. 

Columbus Avenue is to be built from Massachusetts Avenue to the 
entrance to Franklin Park at Seaver Street. The company will desire 
to extend its tracks over the new portion of the avenue. 

Blue Hill Avenue is to be widened to 100 feet from Grove Hall to 
Milton line. A reservation for tracks is to be provided, and at no 
distant day it is presumed the cars of the company will be running 
upon it beyond the point now reached by them. Commonwealth 
Avenue is to be extended from its present terminus through the Water 
Works Estate to connect with the Newton Boulevard which is now 
completed to Auburndale. As much of the work forced upon the 
company by the construction of these avenues is in the nature of 
relocation of tracks and adds nothing to the mileage, the cost of such 
part of the work is charged to the expense account. 

This company has petitioned for a location for tracks from their 
present terminus at Chestnut Hill over the new portion of Common- 
wealth Avenue to the Newton line. 

The construction of Commonwealth Avenue from Beacon Street to 
Brighton Avenue is progressing, and it is expected that another season 
will ensure its completion. The company have laid tracks on the 
completed portions and expect in the spring to complete their work 
and open the line. Brighton Avenue from Commonwealth Avenue to 
Cambridge Street is being widened. The company have a location 
upon this street, and when the widening is completed, expect to lay 
tracks on the same. 

On the 30th of September ninety-six per cent of the mileage, 
namely 1,865,000 miles per month, was run by the electric system, 
leaving to be operated by horse power the line from Park Square, 



8 

Boston, to Russell Square, Somerville. This line has been extended 
to Clarendon Hills, and during the month of November will be opened 
as an electric line. On the opening of this line there will only be 
left as horse car lines, a portion of Atlantic Avenue, the Back Bay 
lines, so called, and Western Avenue from Brighton to Central Square, 
Cambridge. 

During the month of October 1895, the line from Union Square, 
Somerville, to Temple Place, Boston, was opened as an electric line. 

Karly in the fiscal year a fire occurred at the car house on Columbus 
Avenue, which destroyed the house and some sixty cars. This caused 
no serious loss to the company, as the property was insured, and cars 
were taken from several divisions of the line which enabled the busi- 
ness to be continued without the loss of a single trip. 

This company has a very considerable unsettled claim against the 
City of Boston for lands and buildings taken for the purpose of con- 
structing new streets and widening existing ones. 

On Huntington Avenue 13,329 feet have been taken for the purpose 
of widening ; about 1,700 feet on Columbus Avenue ; 10,697 ^ eet °f land 
on Pynchon Street, with serious damage to buildings ; 9,665 feet of land 
at the corner of Washington and Seaver Streets, with the practical 
destruction of a comparatively new and desirable car house. 

At Oak Square, Brighton, a strip of land and a portion of the car 
house has been taken by the City for the purpose of widening Washing- 
ton Street. 

Full particulars of the financial condition of the Company, and of 
its operation during the year, will be found in the accompanying 
report of the Auditor. 

Respectfully submitted, 

SAMUEL, UITTLE, President. 
For the Board of Directors. 



AUDITOR'S REPORT. 



Boston, November ist, 1895. 

To the President and Directors of the West End Street Railway 
Company : 

Gentlemen : — 

I herewith submit the following statements of the business of the 
Company for the fiscal year ending September 30th, 1895. 

A. General Balance Sheet. 

B. Income Account. 

C. Surplus Account. 

D. Detail of Earnings and Expenses. 

E. Passenger Traffic Statistics. 

F. Construction Accounts. 

G. Real Estate Accounts. 
H. Equipment Accounts. 

I. Mileage of Track and Electric Line Equipment. 
J. Equipment September 30, 1895. 
K. Memorandum of Stockholders September 30, 1895. 



Yours Respectfully, 



H. E. WILSON, 

Auditor. 



IO 

A. 

GENERAL BALANCE SHEET. 
CONSTRUCTION, EQUIPMENT, AND REAL ESTATE. 

Construction $5,952,893.33 

Real Estate 4,659,572.50 

Power Stations (buildings and equipment) 3,276,315.31 
Electric Car Houses and Shops (buildings 

and equipment) 1,660,894.80 

Electric Line Equipment 1,620,908.28 

Cars (2268) 5.253,796.90 

Horses (857) 64,275.00 

General Equipment 436,601.28 

Total Cost of Road, Equipment, and Real Estate, $22,925,257.40 

SUNDRY ITEMS. 

Maiden and Melrose Railroad Co. . . - $214,519.83 

Somerville Horse Railroad Co 300,383.98 

Furniture and Fixtures ; . • 10,378.24 

Stocks and Bonds 39,450.00 

Total Sundry Items 564,732.05 

CASH ASSETS. 

Cash on Hand and in Bank $874,176.17 

Cash with Trust Co. for Dividend to be 

paid Oct. 1 317,975.00 

Material and Supplies 361,278.55 

Accounts Receivable 523,613.77 

Insurance . . .- 1,425.67 

Total Cash Assets and Accounts 2,078,469.16 

Totai, Assets • • • . $25,568,458.61 



1 1 

A. 

SEPTEMBER 30, 1895. 

CAPITAL STOCK. 

Common Stock $9,085,000.00 

Preferred Stock 6,400,000.00 

Total Capital Stock $15,485,000.00 

FUNDED DEBT. 

Bonds Metropolitan R. R. due in 1897, 6% $500,000.00 

Metropolitan R. R. due in 1903, 5% 500,000x0 

Middlesex R. R. due in 1897, 6% 200,000.00 

Middlesex R. R. due in 1904, 5% 200,000.00 

Highland St. Ry. due in 1898, 6% 100,000.00 

Highland St. Ry. due in 1902, 5% 300,000.00 

Boston Con. St. Ry. due in 1907, 5% 500,000.00 

So. Boston H. Ry. due in 1905, 5% 200,000.00 

Cambridge R. R. due in 1003, 5% 570,000.00 

Cha's River St. Ry. due in 1904, 5% 150,000.00 

West End St. Ry. due in 1902, 5% 3,000,000.00 

West End St. Ry. due in 1914, 4^% 2,000,000.00 

Mortgage Notes 575,000.00 

Total Funded Debt $8,795,000.00 

CURRENT LIABILITIES. 

Current Bills $182,025.69 

Taxes (audited but not yet due) . . . 329,175.23 

Unpaid Wages 81,539.65 

Bond Redemption Deposit uncalled for 1,050.00 

Coupon Interest uncalled for • . . . . 32,682.50 

Dividends uncalled for 15,835.00 

Outstanding Tickets and Checks . . . 15,340.27 

Total Current Liabilities 657,648.34 

SUNDRY ITEMS. 

Accrued Interest not yet due $110,958.34 

Accrued Rentals not yet due .... 3,825.00 

Accrued Preferred Dividend, to Sept. 30/95 128,000.00 
Common Dividend to be paid Oct. 1, '95 31 7,975 .00 

Total Sundry Items 560,758.34 

PROFIT AND LOSS. 

Surplus 70,051.93 

Total Liabilities $25,568,458.61 



12 



B. 

INCOME ACCOUNT FOR THE YEAR. 

DEBIT. 

Operating Expenses $5,633,163.19 

Taxes 325,288.49 

Coupon Interest . . 409,750.00 

Rentals op Leased Roads 11,924.82 

Preferred Stock Dividends 512,000.00 

Common Stock Dividend, paid April 1st, 1895 . . . 272,550.00 

" " to be paid October 1 st, 1895 3i7,975-oo 

Balance carried to Surplus Account 263,519.27 



',746,170.77 



i3 
B. 

ENDING SEPTEMBER 30, 1895. 

CREDIT. 



Gross Earnings 

From Passengers 

" Sales of Manure . . . . 
' ' Rent of Tracks - . • . . 
' ' Rent of Real Estate . . 

" Advertising 

' ' Interest on Deposits . . 
" United States Mail Cars 
" Miscellaneous Income . 



',624,276.62 
2,661.30 

26 -577-52 
27,098.25 
54,669.06 

4,4i5-25 

5,828.95 

643,82 



',746,170.77 



$7,746,170.77 



14 



c. 



SURPLUS ACCOUNT FOR THE YEAR 



1895. 

Sept. 30. 

it 11 

it < < 

( < t i 

a < < 

• 1 1 1 



DEBIT. 

To bo6k value of old track taken up during 

year and not replaced, now written off . . $139,728.58 

To loss on Real Estate sold or destroyed . - 37,005.62 

To loss on Albany St. Ry. Co. stock .... 36,700.00 

To loss on deposit with Maverick Natl. Bank 7,888.74 
To premium on Cambridge R. R. bonds 

redeemed 1,500.00 

To credit balance carried to next year . . . 70,051.93 



$292,874.87 



15 

c. 

ENDING SEPTEMBER 30, 1895. 

CREDIT. 
1894. 

Sept. 30. By balance from previous year , . $29,355.60 

1-895- 

Sept. 30. By Balance of net income for the year in 

excess of charges and dividends, as per 

Statement B 263,519.27 



$292,874.87 



1 6 

EARNINGS AND EXPENSES 
Gross Earnings. 



Increase over 
Previous Year 



From Passengers $7,624,276.62 $889,965.50 

Rent of Tracks, 26,577.52 *i,820.70 

Sales of Manure 2,661.30 *2,346.35 

Rent of Real Estate 27,098.25 6,016.03 

Advertising . 54,669.06 20,510.85 

Interest on Deposits 4,415.25 4,415.25 

U. S. Mail Cars 5,828.95 5,828.95 

Miscellaneous Income 643.82 *277.85 

Total' $7,746,170.77 $922,291.68 

Operating Expenses. 

For General Expenses $594,017.42 $175,143.26 

Maintenance of Track 692,050.81 155,873.68 

Maintenance of Buildings 50,988.53 9,192.43 

Maintenance of Cars and Vehicles . . . 623,449.96 214,748.78 

Maintenance of Horse Equipment . . 119,719,68 *io,5o6.o6 

Maintenance of Electric Equipment. . 470,005.36 113,171.90 

Road and Snow Expense 144,791.73 *i9,667.2i 

Transportation Expenses 2,698,139.70 188,123.31 

Injuries and Damages . • 240,000.00 

Total • $5,633,163.19 $826,080.09 

Net Earnings $2,113,007.58 $96,211.59 

♦Decrease. 



17 
E. 

PASSENGER TRAFFIC STATISTICS. 

are as follows : 

Round Trips run 2,518,497 

Revenue Miles run 22,180,125 

Revenue Passengers carried 155,231,506 

Passenger Receipts $7,624,276.62 

Average Receipts per passenger 4-912 cents. 

MILEAGE OF ELECTRIC CARS AND HORSE CARS. 

The revenue miles run during the year were as follows : 

Double Motor Electric Cars 12,538,266 

Single " " " 8,485,087 

Tow " " 78,104 

Total mileage of Electric Cars . . . . 21,101,457= 95.13% 

Mileage of Horse Cars 1,078,668 = 4.87 % 

Total 22,180,125 = 100.00 °Jo 

PASSENGER RECEIPTS OF ELECTRIC CARS AND 

HORSE CARS. 

The passenger receipts for the year were as follows : 

From Electric Cars . ' $7,334,516.12 = 96.20 % 

From Horse Cars • 289,760.50 = 3.80 % 

Total $7,624,276.62 = 100.00 % 



i8 

CONSTRUCTION ACCOUNTS. 
RECONSTRUCTION OF TRACKS. 

The length of tracks rebuilt with heavy girder rail dur- 
ing the year amounts to 5.317 miles, the rail mainly 
used weighing 93 pounds to the yard ; tram rail 
track to the amount of 5.634 miles has also been re- 
constructed in a manner to adapt it to the use of 
Klectric Cars. 
The total cost of this work has been $115,891.00 

which has been charged to the expense account. 



CONSTRUCTION. 

This account has been charged during the year with the 

cost of construction of 9.788 miles of new tracks, the 
• total cost being $155,654.44 

Credit has been given for book value of 7.856 miles of 

tracks taken up and engineering, and other general 

expenses written off $338,245.57 

Net reduction of this account for the year $182,591.13 



19 

G- 

RKAIv ESTATE ACCOUNTS. 
Real Estate. 

charges. 

Sundry purchases of property for Power Station, Car 

Houses, etc $138,843.54 

CREDITS. 

Credit for Land and Buildings sold $103,609.10 

Credit for Buildings removed and destroyed during the 

year 43,213.97 

Total Credits $146,823.07 

Net reduction of Real Estate for the year $7,979-53 

Power Stations, 
charges. 

Power Station Construction. — Amount expended 

on buildings during the year . $29,971.77 

Power Station Equipment. — Amount expended for 
new Engines, Boilers, Generators, and Electrical 
Equipment of stations during the year 43,072.63 

Total charge to this account for the year . . . $73,044.40 

Electric Car Houses and Shops, 
charges. 

Amount expended on new car houses and additions to 
existing car houses to adapt them to use for Electric 
Cars . $92,514.47 

New Machinery, Tools, and Miscellaneous Equipment 

at Electric Car Houses and Shops 5, 2 93-43 

Total charge to this account for the year . . . $97,807.90 



20 

H. 

EQUIPMENT ACCOUNTS. 
Horses. 

Credit has been given. 
For decrease in number of horses owned. 

366 horses (a) $134 $49,044.00 

For amount written off to decrease the value of 857 

horses on hand to $75 each • . 50,563.00 

Total reduction of this account for the year . . $99,607.00 

Cars. 

charges. 

This account has been charged with 9 twenty-five foot, 
88 twenty-foot box, 162 nine bench open, and 11 
U. S. Mail electric motorcar bodies, 331 motors and 
electric equipments, 224 trucks, and 594 sets con- 
trollers . $425,839.09 

credits. 

Book value of 61 box car bodies, 56 open car bodies, 51 
motors, and 4 trucks sold, destroyed or transferred 
and depreciation written off $292,014.93 

Net increase of account for the year $133,824.16 

Eeectric Uine Equipment. 

CHARGES. 

Wiring Track underground $7,074.57 

Poles, and Setting same 27,279.18 

Overhead Electric Equipment 16,537.67 

Feeder Eines 89,299.87 

Total addition for the year $140,191.29 

General Equipment. 

CHARGES. 

Amount expended for Electric Snow Equipment .... $62,863.20 

CREDITS. 

Harness, vehicles, machinery, tools and miscellaneous 
equipment sold, destroyed, or transferred and depreci- 
ation written off $174,726.10 

Net reduction of this account for the year . . . $111,862.90 



271 


122 


7 


8 5 6 


263 


266 


9 


266 


2 


.294 



21 



I. 

MILEAGE OF TRACK AND ELECTRIC LINE EQUIPMENT. 

Track. 

Changes during the year have been as follows : 

Total track owned Sept. 30, 1894 261.334 miles. 

Additions for extensions during the year 9.788 

Total 

Reductions for track taken up during the year . 
Net length of track owned Sept. 30, 1895 

Operated under leases 

' ' under trackage privileges 

Total track operated Sept. 30, 1895 .... 274.826 

which is made up as follows : 

Length of main line 149.733 miles. 

" of second track 95-697 " 

' ' of sidings, car-house curves, 

cross-overs, etc 7-5°3 

" of track in car houses and 

yards 21.893 " 

Total . . . . . . . 274.826 " 

The total length of tracks unpaved in streets is ... . 2.12 

The total length of track unpaved in reservations is • . 7.12 

The total length of track built with heavy girder rail is 152.68 " 

The weight of girder rail is from 70 lbs. to 100 lbs. per yard. 

Electric Line Equipment. 

Miles of track completely equipped with electric overhead 

system 248.145 

Miles of track partially equipped (underground wiring only) 6.577 

Miles of track partially equipped (poles only) 1 .479 

Miles of track partially equipped (underground wiring and 

poles only) • . . . , 1.353 

Miles of overhead electric feeder lines 261.456 

Miles of underground electric feeder lines 23.31 

Miles of underground electric return lines J3-93 



22 
J. 

EQUIPMENT. 

September 30, 1895. 

Box Cars, Horse 371 

Open Cars, Horse 170 

Box Cars, Electric, 16-foot bodies 92 

Box Cars, Electric, 20-foot bodies 336 

Box Cars, Electric, 25-foot bodies 445 

Open Cars, Electric, 7 or 8 benches 582 

Open Cars, Electric, 9 benches 212 

Open Cars, Electric, 10 benches 47 

Mail Cars, Electric '. . . . . 11 

Motor Cars, Electric ■ 2 

Horses 857 

Electric Motors 2,108 

Snow Plows, Horse 83 

Snow Plows, Electric 115 

Snow Sleds 388 

Miscellaneous Vehicles 482 



23 

K. 



MEMORANDUM OF STOCKHOLDERS SEPTEMBER 30TH, 1395. 



No. of holders 
State of Preferred Stock. 

Massachusetts . . . . 3,232 

California 6 

Colorado 2 

Connecticut 17 

Delaware 1 

Dist. of Columbia . . 10 

Florida ....... 3 

Illinois 10 

Indiana 1 

Kansas 2 

Kentucky 

Louisiana 1 

Maine 73 

Maryland ...... 2 

Minnesota 3 

Missouri 2 

Michigan 2 

Nebraska "1 

New Hampshire ... 157 

New Jersey 7 

New York .... 56 

Ohio 3 

Pennsylvania .... 16 

Rhode Island .... 49 

South Carolina ... 2 

Tennessee ..... o 

Vermont 10 

Virginia 2 

Washington . . 

Wisconsin 2 

Foreign Countries . . 19 

3,691 

No. of Stockholders as Trustees . 
Amount of stock held by Trustees 
No. of Women Stockholders . . . 
Amount of stock held by Women 



No. Shares No. of holders No. Shares 

held. Common Stock. held. 



113,939 


2,739 


159,996 


711 


4 


262 


no 


2 


. 145 


305 


34 


i,543 


5 


2 


3 


333 


1 


10 


19 








179 


8 


282 


25 








6 


2 


90 


• . 


1 


2 


60 


. 


. 


2,267 


4i 


839 


35 


3 


105 


27 


• • 


• • 


42 


• • 


• • 


65 








5 


1 


60 


3,369 


117 


2,297 


295 


6 


441 


2,999 


63 


5,6oi 


87 


5 


5i5 


259 


17 


5,776 


1,723 


60 


2,490 


15 


1 


50 





• • 


• • 


276 


8 


194 


18 








. . 


1 


n 


*5 


4 


37 


811 


14 


95i 



128,000 3,134 181,700 

Preferred. Common. 

492 90 

. 25,424 shares. 7,144 shares. 

i,758 i,i35 

* 41,169 shares. 24,632 shares. 



Ninth Annual Report 



OF THE 



West E n d S^eet Railway Company, 



1896. 



NINTH ANNUAL REPORT 



OF THE 



West End Street Railway Co. 



For the Year Ending September 30, 1896. 



BOSTON : 
PRESS OF WALKER, YOUNG' & CO. 

1896. 



DIRECTORS AND OFFICERS. 

189^—1896. 



DIRECTORS. 

(ELECTED NOVEMBER 26, 1895.) 
SAMUEL ElTTLE. 



Alfred Bowditch. 
G. T. W. Braman. 

F. E- HlGGINSON. 

Wm. Hooper. 
Albert C. Houghton. 
Walter Hunneweu. 



Henry D. Hyde. 
Theophilus Parsons. 
Samuel Spencer. 
Walter S. Swan. 
B. Rodman Weld. 
Alfred Winsor. 



EXECUTIVE COMMITTEE. 
The President (ex-ofiicio.) 

Walter Hunnewell. F. E. Higginson. 

Theophilus Parsons. B. Rodman Weld. 

CEERK OF CORPORATION. 

Prentiss Cummings. 



OFFICERS. 



Samuel Eittle 
Prentiss Cummings 
C. S. Sergeant 

J. H. GOODSPEED 
H. E. Wilson . 
J. E. Rugg 



President. 

Vice-President. 

General Manager. 

Treasurer. 

Auditor. 

Geyieral Superintendent . 



West End Street Railway Company. 



NINTH ANNUAL REPORT. 



Boston, Nov. 2, 1896. 
To the Stockholders : 

Your directors submit the following statement and report, covering 
the operations of your Railway for the year ending Sept. 30, 1896. 

Gross Earnings (Increase $595>7 8 7-5 2 ) $8,341,958.29 

Operating Expenses .... (Increase 701,455.95) 6,334,619.14 
Net Earnings (Decrease $105,668.43) $2,007,339.15 

Taxes $343,897.51 

Interest and Rentals of Leased Roads 450,702.94 

Total fixed charges 794,600.45 

Balance available for Dividends $1,212,738.70 

Against which the dividend charges were as follows : 

8 per cent Dividend on Preferred 

Stock $512,000.00 

3^ per cent Dividend on Common 

Stock, paid April 1 3 17, 975 .00 

2^/2, per cent Dividend on Common 

Stock, to be paid Oct. 1 . . . . 317,975.00 1,147,950.00 

Balance of income for the year $64,788.70 

Against which are charged value of tracks taken up, and 
bad debts, etc. written off, as shown in the Auditor's ■ 
statement of surplus account. 



The gross earnings of the Company for the year show quite a satis- 
factory increase over the preceding year. It has been a year of more 
than ordinary interruption in the running of the cars, caused by the 
public works in process of construction. While the transit commission- 
ers, their engineers, and the contractors on the various sections of the 
subway have furnished every facility in their power to enable us to run 
our cars, the necessities of the case have very much interrupted travel 
and caused repeated diversions of the cars to other routes, as well as 
being quite an expense to the Road in the matter of changing and re- 
placing their tracks, and requiring constant oversight to guard against 
possibilities of accident. 

At Hogg's Bridge, so-called, where the New York, New Haven 
and Hartford Railroad are rebuilding their tracks on an elevated struc- 
ture, the Jamaica Plain line, one of the important lines of the Road, was 
separated and for some months was run in two sections, causing quite 
an expense, besides a loss in passenger receipts from the inconvenience 
it necessitated. This has now been remedied, and the cars are running 
on their permanent location under the bridge of the steam road. 

The line to Chelsea, through East Boston was broken for about two 
months by the rebuilding of the bridge, causing a total loss of the 
Chelsea travel. The bridge has now been completed and the cars are 
making their usual route. 

In other sections the Metropolitan Sewer and the laying of large 
water pipes have been a constant source of expense and interruption to 
travel. 

The total additional horse power on account of work in process, 
September 30, 1895, has been 4700 H. P. The additions for the present 
year at the central power station are as follows : four 1000 H. P. belted 
engines have been changed to direct-coupled, increasing the power 
350 H. P. each, making an increase of 1400 H. P. 

The cost of alterations at the central power station has been treated 
as an item of expense. 

Also, at the central power station a new direct-coupled engine and 
generator has been installed, of 2000 H. P. 

At the Dorchester power station, for which land has been pur- 
chased and a power house erected during the present year, there has 
been a complete installation of engines, generators and boilers, consist- 
ing of two direct-coupled engines and generators, making in all 3000 
H.P. 



This makes the total additional horse power installed in 1895 and 
1896, 11,100 H. P., and the rated H. P. at all stations at this date 
25,550 H. P. 

During the present year an extension has been made to the car 
house at Salem Street, Medford, having capacity of. sixty-five 25-foot 
cars, making the total capacity of the house one hundred and twenty- 
five 2 5 -foot cars. 

An addition has been made to the Jamaica Plain car house, having 
capacity of twenty-six 25-foot cars, making total capacity of eighty- 
seven 25-foot cars. 

A new car house has been erected at Allston with capacity of forty- 
four 25-foot cars. 

The Union Square stables have been remodelled for a car house, 
with capacity of thirty-two 25-foot cars. 

An extension of the Ashmout car house at Dorchester has been 
made, with capacity for thirty-three 25-foot cars, making the total 
capacity of the car house ninety-three 25-foot cars. 

A new waiting-room, tenement, etc., has been erected at the corner 
of Norfolk and Nelson Streets, Dorchester. 

Several new lines and extensions of old lines have been made dur- 
ing the year, the principal of which are 

The Arlington Dine, extended to the new car house. 

Clarendon Hill to Park Square, extended to the new car house., 

Lenox Street to Davis Square, extended to the car house. 

The Dorchester Street Transfer line has been extended to Field's 
Corner. 

A new line has been opened from Forest Hills to the East Boston 
Ferries by way of the Southern Depots. The Belt Dine (so called) has 
been extended through Kliot Square and Roxbury Street. 

A new line has been established from Harvard Square to Dudley 
Street. 

The line from Allston formerly run to the Tremont House has been 
extended to the Union Station. 

The line from the Reservoir formerly running to the Tremont House 
has been extended to the Union Station. 

The tracks over Commonwealth Avenue and Brighton Avenue via 
Oak Square to Newton have been completed, and a line of cars estab- 
lished running from Newton to the Union Station. 



A line has been established from Dorchester Street, South Boston, 
running via Broadway and Washington Street to Dudley Street transfer 
station, Roxbury. 

The lines from City Point to Scollay Square and from Ferry Street 
to Scollay Square have been consolidated, making a continuous line 
from City Point to Ferry Street in Everett. 

The Mount Auburn line via Huron Avenue has been extended to 
Rowe's Wharf. 

The Field's Corner Cross Town line running to the Tremont 
House has been extended to Milton. 

The line from Ashmont Street to Franklin Street via Meeting 
House Hill has been extended to the Union Station. 

The lines formerly running from Grove Hall via Shawmut Avenue 
to Union Station and the lines from Spring Hill and East Cambridge 
have been consolidated, and a continuous line is now running from 
Grove Hall through East Cambridge to Spring Hill. 

The Reservoir Dine (so called) via Beacon Street has been extended 
through the boulevard built through property of the water works to the 
Newton line. 

The line from Western Avenue and Market Street to Bowdoin 
Square has been extended to Oak Square. 

Experience has shown that a single track road is not desirable. The 
risk of accidents is very largely increased on a single track. The delays 
incident to the meeting of cars upon the turnout interfere very materially 
with the prompt running of cars, and detract very much from the 
popularity of a line. 

No single track line has been constructed during the year, and 
several of the old lines which were formerly single have been made 
double track lines. 

The new tracks built the past year have been in Cambridge, from 
former terminus on Huron Avenue through Aberdeen Avenue to Mount 
Auburn Street ; in Somerville, a new double track on Medford Street, 
from Cross Street to Somerville Avenue ; on Roxbury Street from Eliot 
Square to Pynchon Street ; from Oak Square via Tremont and Park 
Streets to Newton Corner ; on Columbus Avenue Extension from 
Northampton Street to Tremont Street ; on Blue Hill Avenue from 
Glenway Street to Franklin Field ; on Chestnut Hill and Common- 
wealth Avenues extension from the Reservoir to the Newton Line. 



The work of rebuilding double-track in place of the existing single- 
track lines has been an important feature. In Everett a second track 
has been built on Broadway from Hancock Street to Ferry Street : In 
Boston, a second track on Dorchester Avenue, from Ashmont Street to 
Milton : second track has been built and old track rebuilt from Upham's 
Corner via Hancock and Bowdoin Streets to Washington Street, 
Dorchester : A new second track on Adams Street and Neponset 
Avenue from Park Street to Walnut Street : in Brighton a new double- 
track on Western Avenue and Market Street from the Charles River to 
Washington Street, replacing the old single horse-car track has been 
built: this was opened as an electric line on August 18, 1896. In 
Somerville a new second track on Medford Street and Highland Avenue 
from Cross Street to Davis Square has been built. 

Work is now nearly completed on the new double-track construction 
from the Fitchburg Railroad Station on Mount Auburn Street to Common 
Street in Watertown, this taking the place of the tee rail on the side of 
the street. 

The double track on Huntington Avenue has been rebuilt from 
Copley Square to the Brookline line. 

The double-track on Atlantic Avenue, Commercial and Causeway 
Streets, from Beverly Street to State Street, has been rebuilt. The line 
was opened as an electric line May 13, 1896. 

On Cambridge Street, Charlestown, and Washington Street, 
Somerville, tracks have been rebuilt, and opened as an electric line 
October 17, 1895. 

In the track work of the year, of new construction- and reconstruction 
there has been laid 6752 tons of girder rail, 239 tons of tram rail, 285 
tons tee rail, and 2000 tons of the best special girder work. 

The total length of additional track built during the year is 25.014 
miles: length of track rebuilt with girder rails, 24.81 miles. In ad- 
dition to this, much of the earlier girder track has received heavy 
repairs. 

On September 30, 1896, the Company had track in reservations on 
boulevards to the length of 14.14 miles of single-track. 

The Act of the legislature requiring electric wires to be placed 
underground in a certain defined district of the city has been more than 
complied with. At the present time the company has underground 
conduits 4.848 miles in length : length of ducts, 66.277 miles : length of 
cable 29.511 : length of return wires (in ducts or ground) 49.871. 



L,arge additions have been made to the car equipment during the 
3 r ear. There has been contracted for and received up to the present 
time three hundred and sixteen 2 5 -foot box cars, and one hundred and 
eighty, nine-bench open cars. 

Fares upon the lines from Arlington, and from Newton via Water- 
town have been reduced to five cents, making a uniform fare of five 
cents throughout the whole system. 

On September 30 the only lines of cars run by the Company not 
equipped with electricity were the Back Bay lines, so called. This 
makes about one per cent, of the car mileage of the Road, making 
ninety-nine per cent, of the entire system run by electricity. 

The Company sold during the year $815,000 four per cent, twenty 
year bonds, the proceeds being used to retire all outstanding mortgages 
on real estate, and $60,000 of the five per cent, mortgage bonds of the 
Cambridge Railroad, which were drawn under the provisions of the 
mortgage. 

The car mileage run for the year ending September 30 has been 
25,841,907 miles, an increase over the previous year of 3,661,782 miles. 

The number of revenue passengers carried on the cars has been 
166,862,288, an increase over the preceding year of 11,630,782. 

The number of employes in all departments is 4750. 

The management of the company are fully aware that its success 
depends largely upon the facilities afforded the public, and upon the 
deportment and attention of its employes, and the directors take pleasure 
in assuring their employes that they appreciate the very general dis- 
position on their part to aid the management in their endeavor to make 
the service an acceptable one to the public. 

A detailed statement of the financial condition of the Company and 
of its operation during the year is submitted in the accompanying report 
of the Auditor. 

Respectfully submitted, 

SAMUEL LITTLE, President, 

For the Board of Directors. 



AUDITOR'S REPORT. 



Boston, November 2nd, 1896.' 

To the President and Directors oj the West End Street Railway 
Company : 

Gentlemen : — 

I herewith submit the following statements of the business of the 
Company for the fiscal year ending September 30th, 1896. 

A. General Balance Sheet. 

B. Income Account. 

C. Surplus Account. 

D. Detail of Earnings and Expenses. 

E. Passenger Traffic Statistics. 

F. Construction Accounts. 

G. Real Estate Accounts. 
H. Equipment Accounts. 

I, Mileage of Track and Electric Ltne Equipment. 
J. Equipment September 30, 1896. 
K. Memorandum of Stockholders September 30, 1896. 

Yours Respectfully, 

H. E. WILSON, 

Auditor. 



IO 



GENERAL BALANCE SHEET. 

CONSTRUCTION, EQUIPMENT AND REAL ESTATE. 

Construction $6,273,571.15 

Real Estate 4,57 8 >759-56 

Power Stations (buildings and equipment) 3,579,830.20 
Electric Car Houses and Shops (buildings 

and equipment) 1,982,958.38 

Electric Eine Equipment 1,836,895.93 

Cars (2435) . . 5,469,444.66 

Horses (548) . 41,100.00 

General Equipment 471,458.71 

Total Cost of Road, Equipment and Real Estate, $24,234,018.59 

SUNDRY ITEMS. 

Maiden and Melrose Railroad Co. - . . $214,519.83 

Somerville Horse Railroad Co. ... . 301,293.98 

Furniture and Fixtures 5,578.24 

Stocks and Bonds 41,400.00 

Total Sundry Items 562,792.05 

CASH ASSETS. 

Cash, on hand and in bank $292,385.85 

Cash with Trust Co. for Dividend to be 

paid Oct. 1 317, 975-°° 

Material and Supplies 540,225.77 

Accounts Receivable 416,964.05 

Insurance 31,266.67 

Total Cash Assets and Accounts 1,598,817.34 

Total Assets $26,395,627.98 



IT 



A. 

SEPTEMBER 30, 1896. 



CAPITAL, STOCK. 



Common Stock 
Preferred Stock 



^9,085,000.00 
6,400,000.00 



Total Capital Stock $15,485,000.00 



Bonds Metropolitan R. R. 
Metropolitan R. R. 
Middlesex R. R. 
Middlesex R. R. 
Highland St. Ry. 
Highland St. Ry. 
Boston Con. St. Ry. 
So. Boston H. Ry. 
Cambridge R. R. 
Cha's River St. Ry. 
West End St. Ry. 
West End St. Ry. 
West End St. Ry. 
Total Funded Debt 



FUNDED DEBT. 

due in 1897, 6% 
due in 1903, 5% 
due in 1897, 6% 
due in 1904, 5% 
due in 1898, 6% 
due in 1902, 5% 
due in 1907, 5% 
due in 1905, 5% 
due in 1903, 5% 
due in 1904, 5% 
due in 1902, 5% 
due in 1914, 4.%% 
due in 1916, 4% 



$500,000.00 
500,000.00 
200,000.00 
200,000.00 
100,000.00 
300,000.00 
500,000.00 
200,000.00 
540,000.00 
150,000.00 
3,000,000.00 
2,000,000.00 
815,000.00 



CURRENT LJABIEITIES. 



Notes Payable 

Current Bills 

Taxes ( audited but not yet due) 

Unpaid Wages 

Coupon Interest uncalled for . . 

Dividends uncalled for 

Outstanding Tickets and Checks 

Total Current Liabilities . - 



S6oo,ooo.oo 

201,050.24 

338,996.00 

81,883.98 

29,800.00 

5,594-25 
16,373.40 



SUNDRY ITEMS. 

Insurance Sinking Fund 47,666.57 

Accrued Interest not yet due 124,541.67 

Accrued Rentals not yet due ...... 3,825.00 

Accrued Preferred Dividend., to Sept, 30, '96 128,000x0 

Common Dividend to be paid Oct. 1, '96 3i7,975-oo 

Total Sundry Items 



PROFIT AND LOSS 



Surplus 



,005,000.00 



$1,273,697.87 



622,008.24 



9,921.87 



Totae Liabilities $26,395,627.98 



12 



INCOME ACCOUNT FOR THE YEAR. 

DEBIT. 

Operating Expenses $6,334,619.14 

Taxes • . 343,897-51 

Coupon Interest 414,998.46 

Miscellaneous Interest 23,752.12 

Rentals of Leased Road . . 11,952.36 

Preferred Stock Dividends 512,000.00 

Common Stock Dividend, paid April 1st, 1896 . . . 317,975.00 

" , " to be paid October 1 st, 1896 317,975.00 

Balance carried to Surplus Account 64,788.70 



$8,341,958.29 



13 



B. 



ENDING SEPTEMBER 30, 1896. 



CREDIT. 



Gross Earnings 

From Passengers 

" Sales of Manure . . . - 

' ' Rent of Tracks 

" Rent of Real Estate . . 

" Advertising 

" Interest on Deposits . . 
" United States Mail Cars 
" Miscellaneous Income . 



1,341,958.29 



!, 198,914.25 
713-95 

32,454-43 
34,267.12 
52,084.01 

7,433-55 

i5,425-9i 

665.07 



5,341,958.29 



i4 

c. 

SURPLUS ACCOUNT FOR THE YEAR. 



1896. 
Sept. 30. 



it ii 



< < < < 



DEBIT. 

To book value of old track taken up during 

year and not replaced, now written off . . $66,470.91 

To loss on Real Estate sold or destroyed . . 29,791.00 

To discount on 4% Bonds sold 28,419.05 

To premium on Cambridge R. R. bonds 

redeemed 1,500.00 

To credit balance carried to next year ... 9,921.87 



$136,102.83 



i8 9 5- 
Sept. 30. 

1896. 
Sept. 30. 



15 

c. 

ENDING SEPTEMBER 30, 1896. 

CREDIT. 

By balance from previous year 



By dividend from Maverick National Bank . 

By Balance of net income for the year in 
excess of charges and dividends, as per 
Statement B 



$70,051.93 
1,262.20 



64,788.70 



ii36, 102.83 



i6 



D. 



EARNINGS AND EXPENSES. 



Gross Earnings. 

From Passengers $8,198,914.25 

Rent of Tracks 32,454.43 

Sales of Manure 7 I 3-95 

Rent of Real Estate 34,267.12 

Advertising . . 52,084.01 

Interest on Deposits 7,433-55 

U. S. Mail Cars 15,425.91 

Miscellaneous Income 665.07 

Total $8,341,958.29 

Operating Expenses. 

For General Expenses $469,705.68 

Maintenance of Track 938,748.92 

Maintenance of Buildings 98,222.95 

Maintenance of Cars and Vehicles . . . 716,124.94 

Maintenance of Horse Equipment . . • 34* 595 -5° 

Maintenance of Electric Equipment . . 665,033.50 

Road and Snow Expense . . . . i . . 146,821.07 

Transportation Expenses 2,945,366.58 

Injuries and Damages 320,000.00 

Total $6, 334, 6 19. 14 

Net Earnings $2,007,339.15 

♦Decrease 



Increase over 
Previous Year 

$574,637.63 
5,876.91 

*i, 947-35 
7,168.87 

*2, 585-05 
3,018.30 

9,596.96 
21.25 

$595.787-52 



*$I24, 311.74 
246,698.11 

47,234-42 
92,674.98 

*8 5 ,i2 4 .i8 

195,028.14 

2,029.34 

247,226.88 

So, 000. 00 

$701,455.95 

*$io 5 , 668.43 



17 
E. 

PASSENGER TRAFFIC STATISTICS 

are as follows: 

Round Trips run 2,822,142 

Revenue Miles run 25,841,907 

Revenue Passengers carried 166,862,288 

Free Transfer Passengers carried 17,566,361 

Passenger Receipts $8,198,914.25 

Average Receipts per revenue passenger 4-914 cents. 



MILEAGE OF ELECTRIC CARS AND HORSE CARS. 

The revenue miles run during the year were as follows : 

Mileage of Electric Motor Cars 25,300,918 = 97.91 % 

Mileage of Horse Cars • 540,989 = 2.09 % 

Total 25,841,907 = 100.00 % 



PASSENGER RECEIPTS OF ELECTRIC CARS AND 

HORSE CARS. 

The passenger receipts for the year were as follows : 

From Electric Cars ■ $8,077,058.87 = 98.51 % 

From Horse Cars 121,855.38 = 1.49 % 

Total $8,198,914.25 = 100.00 °fo 



i8 
F. 

CONSTRUCTION ACCOUNTS. 
RECONSTRUCTION OF TRACKS. 

The length of tracks rebuilt with heavy girder rail dur- 
ing the year amounts to 24.81 miles, the rail mainly 
used weighing 93 pounds to the yard ; tram rail 
track to the amount of .241 miles has also been re- 
constructed in a manner to adapt it to the use of 
Electric Cars. 
The total cost of this work has been • . $347,888.36 

which has been charged to the expense account. 



CONSTRUCTION. 

This account has been charged during the year with the 
cost of the construction of 5.959 miles of mainline 
track, 13.492 miles of second track, .501 miles of 
curves, sidings, etc. and 5.062 miles of track in car 
houses and yards, or a total of 25.014 miles of new 
track, the total cost being $387,148.73 

Credit has been given for book value of 1.7 16 miles of 
main line track, .537 miles of second track, .604 miles 
of curves, sidings, etc. and 1.240 miles of track in 
car houses and yards, or a total of 4.097 miles of 

track taken up $66,470.91 

Net increase of this account for the year $320,677.82 



19 

G. 

REAL ESTATE ACCOUNTS. 

Real. Estate, 
charges. 

Sundry purchases of land for Power Station, Car Houses, 

etc $24,066.60 

Waiting Rooms and Emergency Station built 20,078.08 

Total charges $44,144.68 

CREDITS. 

Credit for Eand and Buildings sold $69,280.28 

Credit for Buildings removed and destroyed, and loss 

written off during the year 41,989.61 

Credit for Buildings transferred to Electric Car House, 

account 13.687.73 

Total Credits $124,957,62 

Net reduction of Real Estate for the year $80,812.94 



Power Stations, 
charges. 

Power Station Construction. — Amount expended 

on buildings during the year $105,721.69 

Power Station Equipment. — Amount expended for 
new Engines, Boilers, Generators, and Electrical 
Equipment of stations during the year ...... $i97>793- 2 ° 

Total charge to this account for the year . . . $303,514.89 



Electric Car Houses and Shops. 

charges. 

Amount expended on new car houses and additions to 
existing car houses to adapt them to use for Electric 
Cars $324,986.73 

CREDITS. 

Machinery, Tools, and Miscellaneous Equipment at 
Electric Car Houses and Shops transferred or written 

off 2,923.15 

Total charge to this account for the year . . . $322,063.58 



20 



H. 



EQUIPMENT ACCOUNTS. 

Horses. 
Credit has been given. 
For decrease in number of horses owned. 

309 horses fa) $75.00 $23,175.00 

Cars, 
charges. 
This account has been charged with 208 twenty-five foot, 
1 sixteen foot box, and 180 nine bench open electric 
motor car bodies, 530 motors and electric equip- 
ments, 515 trucks, and 300 sets controllers .... $625,798.86 

CREDITS. 

Book value of 154 box car bodies, 68 open car bodies, 63 
motors, and 49 trucks sold, destroyed or transferred 
and depreciation written off $410,151.10 

Net increase of account for the year $215,647.76 

Eeectric Line Equipment, 
charges. 

Wiring Track underground $14,872.58 

Poles, and Setting same 37,198.87 

Overhead Electric Equipment 20,798.98 

Feeder Eines 143,117.22 

Total addition for the year $215,987.65 

General Equipment. 
charges. 
Amount expended for Electric Snow Equipment, includ- 
ing 55 Motors for Plows $118,911.74 

credits. 
Harness, vehicles, machinery, tools and miscellaneous 
equipment sold, destroyed, or transferred and de- 
preciation written off $84,054.31 

Net increase of this account for the year $34,857.43 



21 
I. 

MILEAGE OF TRACK AND ELECTRIC LINE EQUIPMENT. 

Track. 

Changes during the year have been as follows : 

Total track owned Sept. 30, 1895 263.266 miles. 

Additions for extensions during the year. .... 25.014 

Total . . . .' 288.280 

Reductions for track taken up during the year . ■ 4.097 

Net length of track owned Sept. 30, 1896 . . 284.183 

Operated under leases 9.266 

under trackage privileges 2. 112 

Total track operated Sept. 30, 1896 295.561 

which is made up as follows : 

Length of main line 153.885 miles. 

" of second track 108.561 " 

" of sidings, car house curves, 

cross-overs, etc 7.400 " 

of track in car houses and 

yards 25.715 ' ' 

Total 295.561 

The total length of tracks unpaved in streets is . . . . 1.67 

The total length of track unpaved in reservations is . H-H " 
The total length of track built with heavy girder rail is 196.06 

The weight of girder rail is from 70 lbs. to 100 lbs. per yard. 

Eeectric Line Equipment. 

Miles of track completely equipped with electric overhead 

system 279.056 

Miles of track partially equipped (underground wiring only) 5. 750 

Miles of overhead electric feeder lines 441.615 

Miles of underground conduit 4.848 

Miles of underground conduit duct 66.277 

Miles of underground electric feeder lines 26.732 

Miles of underground electric return lines 49871 



22 
J. 

EQUIPMENT. 

September 30, 1896. 

Box Cars, Horse 234 

Open Cars, Horse 102 

Box Cars, Electric, 16-foot bodies 76 

Box Cars, Electric, 20-foot bodies 336 

Box Cars, Electric, 25-foot bodies 653 

Open Cars, Electric, 7 or 8 benches 582 

Open Cars, Electric, 9 benches 392 

Open Cars, Electric, 10 benches 47 

Mail Cars, Electric 11 

Motor Cars, Electric 2 

Horses 548 

Electric Motors . 2,681 

Snow Plows, Horse . . . .* 82 

Snow Plows, Electric 132 

Snow Sleds 391 

Miscellaneous Vehicles 487 



23 

K. 

MEMORANDUM OF STOCKHOLDERS SEPTEMBER 30TH, 1896. 

No. of holders No. Shares No. of holders No. Shares 

State of Preferred Stock. held. Common Stock. held. 

Massachusetts .... 3,302 113,991 2,812 145,546 

California 7 741 5 272 

Colorado 2 160 1 45 

Connecticut 18 325 36 1,792 

Delaware . . . . 2 3 

Dist. of Columbia . . 10 271 1 9 

Florida 3 19 

Illinois 10 179 10 274 

Indiana 1 25 

Kansas 2 6 1 72 

Kentucky . . . . 1 2 

Louisiana 1 60 . . . . 

Maine 71 2,190 41 932 

Maryland 2 35 1 50 

Minnesota 4 62 . . 

Missouri .2 42 1 4 

Michigan 1 40 1 22 

Montana . . . . 1 4 

Nebraska 1 5 1 60 

New Hampshire . . 166 3, 401 123 2,500 

New Jersey 7 295 7 472 

New York 62 3,013 78 18,188 

Ohio 3 113 5 515 

Pennsylvania .... 15 244 18 6,430 

Rhode Island . . . ■ 48 1,724 59 2,476 

South Carolina ... 2 15 1 50 

Tennessee . . . . 1 50 

Vermont 10 276 10 269 

Virginia 2 18 

Washington ..... . . . . 1 11 

Wisconsin 3 42 4 37 

Foreign Countries . . 18 708 15 1,615 

3,773 128,000 3,237 181,700 

Preferred. Common. 

No. of Stockholders as Trustees ... 510 113 

Amount of stock held by Trustees . . 26,788 shares. 8,976 shares. 

No. of Women Stockholders 1,825 1,221 

Amount of Stock held by Women . . 42,558 shares. 26,172 shares. 



Tenth Annual Report 



OF THE 



VVest E n d S^eet Railway Company. 



1897. 



TENTH ANNUAL REPORT 



OF THE 



West End Street Railway Co. 



For the Year Ending September 30, 1897. 



BOSTON : 

PRESS OF WALKER, YOUNG & CO. 

1897. 



DIRECTORS AND OFFICERS. 

1896 — 1897. 



DIRECTORS. 

(EJECTED NOVEMBER 24, 1896.) 

Samuel Little. 

G. T. W. Braman. Richard M. Saltonstall. 

T. Jefferson Coolidge. Samuel Spencer. 

Wieliam Hooper. Walter S. Swan. 

Aebert C. Houghton. Stephen M. Weed. 

Henry D. Hyde. Moses Wieeiams. 

Joseph B. Russell. Alfred Winsor. 

EXECUTIVE COMMITTEE. 

The President (ex-officio.) 
William Hooper. Walter S. Swan. 

Joseph B. Russell. Alfred Winsor. 

CLERK OF CORPORATION. 
Prentiss Cummings. 



OFFICERS. 



Samuel Little 
Prentiss Cummings 
C. S. Sergeant 
J. H. Goodspeed 
H. L. Wilson 
J. E. Rugg 



Preside?it. 

Vice- Presiden t . 
General Manager. 

Treasurer. 

Auditor. 

General Superintendent ' . 



West End Street Railway Company. 



TENTH ANNUAL REPORT. 



Boston, Nov. io, 1897. 
To the Stockholders : 

Your directors submit the following statement and report, covering 
the operations of your Railway for the year ending Sept. 30, 1897. 

Gross Earnings (Increase $377,073.49) $8,719,031.78 

Operating Expenses (Decrease 120,910.58) 6,213,708.56 

Net Earnings (Increase $497,984.07) $2,505,323.22 

Taxes $372,460.18 

Interest and Rentals of Deased Roads 

and Subway ......... 507,915-38 

Total fixed charges 880,375.56 

Balance $1,624,947.66 

Against which the dividend charges were as follows : 

8 per cent. Dividend on Preferred 

Stock $512,000.00 

3*4 per cent. Dividend on Common 

Stock, paid April 1 . . . . . . 317,975.00 

4 per cent. Dividend on Common 

Stock, to be paid Oct. 1 . . . 363,400.00 1,193,375.00 

Balance $431,572.66 

Against which are charged value of tracks taken up, and 
bad debts, etc. written off, as shown in the Auditor's 
statement C $449,258.49 

Dess credit for transfer of Insurance. 

Sinking Fund 79,47 8 -59 369. 779-9° 

Surplus : $61,792.76 



Notwithstanding the weather during the spring and summer months 
was quite unfavorable for the usual pleasure riding during the day and 
evening, the gross receipts of the Road show quite a gain over the 
previous year. The same conditions have existed during the past year 
as was stated in the previous report. The running of the cars has been 
very much interrupted by the construction of the Subway, the laying of 
pipes by the Metropolitan Water Board, and several large sewers which 
have been constructed by the City. While these interruptions are un- 
avoidable, they entail quite an expense upon the Road. 

The past fiscal year has been marked by two events in connection 
with the Company of more importance than any that have preceded 
them — the leasing and opening of 'the Subwa)^, and the leasing of the 
Road to the Boston Elevated Railroad Co. On December 15, 1896, a 
contract for a lease of the Subway having been signed by the City of 
Boston and by the Transit Commission, and by your President, duly 
authorized by the Board of Directors, a special meeting of the stock- 
holders was held and the contract was ratified by them. Subsequently 
the contract was approved by the Board of Railroad Commissioners, 
and became binding upon your Company for twenty years, as provided 
in the contract. 

The portions of the Subway from the Public Garden, and from 
Tremont Street and Pleasant Street to Park Street Station were com- 
pleted during the past season. The completed portions are believed to 
be constructed in the most permanent and substantial manner. The 
engineering skill which has been shown in the construction of this, — 
the most extensive work of the kind in the country, when it is remem- 
bered that for a large part of its route it is under the most congested- 
streets of the city, — and the success of the engineers in overcoming the 
difncidt problems which arose in the progress of the work have been 
most favorably commented on by engineering experts from this country 
as well as from many foreign countries, who have professed great pleas- 
ure in the examination of the work. When the Avork upon the now 
completed portion of the Subway had been sufficiently advanced to per- 
mit it, the track-laying and equipping of the same was commenced by 
the Company. The Directors authorized the engagement of a well- 
known expert engineer to advise with our own construction and engin- 
eering departments and present plans for the work in all its details, with 
the end in view that the work might be of the most substantial character, 
the chances of accident eliminated or reduced to the minimum, and 
withal, to make it as comfortable and acceptable to our patrons as pos- 
sible. It is believed that to a great extent this has been accomplished. 



The road-bed consists of an 85 -lb. tee rail laid on chestnut ties 
bedded in a bottom of cracked stone about fourteen inches in depth. 
On the entire length of this rail is a firmly attached guard-rail, with a 
surface above the rail for travel of seven-eighths of an inch, making a 
total weight of rail of 128 lbs. to the yard. This would seem to make 
the derailment of a car improbable, if not well-nigh impossible. No gas 
or oil is used in the subway. The lighting is from two entirely separate 
electric circuits, and the lighting of the cars from still another circuit, 
making the chances of the Subway ever being in darkness very small. 
A complete system of hydrants connected with the city water has been 
introduced, with a full attachment of hose always ready for use if 
occasion should require. The same care and precaution have been 
taken in all the various details of equipment. 

The portion of the Subway from the Public Garden to Park Street 
was opened for travel September r, 1897, that from Tremont Street and 
Shawmut Avenue to Park Street October 1st, 1897. It is expected that 
during the coming 3^ear the portion from Park Street to the Union 
Station will be completed and opened for travel. 

The portion of the Subway in use at the present time is open for 
travel from six o'clock A. M. to twelve, midnight, during each day of 
the week. There are at present 1362 trips per day being run through 
the Subway. In the immediate future three additional lines of cars will 
be added, making a total of 1790 regular trips per day, with extra trips 
as the travel demands. This, in the busy hours of the day, when the' 
largest number of trips per hour is being run, will give from two to 
three cars a minute leaving Park Street, which is quite a tax upon the 
capacity of that station. Our returns show that nearly one-fifth of the 
passengers taking the cars in the Subway during the day do so between 
the hours of five and six o'clock P. M., and that ninety per cent, of 
these take cars at Park Street. 

Our returns show that seven per cent, of the total number of passen- 
gers carried over the entire system are carried through the Subway. 

The number of total round trips made daily by cars north of 
Boylston, on Tremont Street, to Union Station, Charlestown, Chelsea 
Ferry and Somerville, is 1757. 

The cost to the Company of equipping the portion of the Subway 
already in use has been large, and when the remaining portion is com- 
pleted a large outlay for equipment will be required. The contract for 
the use of the Subway and the cost of the care of same, and the quite 
considerable force of men employed when the whole shall have been 
completed, will entail a large expense upon the Company. As the 



charge for rental is based upon the cost, and as it can only be estimated 
at this time what part of the $7,000,000 authorized will be spent on con- 
struction, the charge to the Company for rental can only be estimated ; 
but the work has so far proceeded that it can be safely stated that the 
cost to the Company for rental and expenses will be at least $350,000 
per annum, and this with no account made of the expense of equipping 
the Subway. With only a portion of the Subway open for travel, and 
that having been in use but a short time, it is too early to expect anj r 
judgment of the effect of the Subway when completed and in use, upon 
the travel of the Road. 

At the last session of the "Legislature, an amendment to the charter 
of the Boston Elevated Railway Company authorized a lease of this 
Company to be made to the Elevated Company. The terms of a lease 
having been agreed upon by the Directors of both Companies, on the 
ninth of September of this year a Special Meeting of the Stockholders 
was held to take action upon the lease, a copy of which was presented 
to the meeting. By an almost unanimous vote the lease was approved 
and the President authorized to execute the same on behalf of this Com- 
pany ; this has been done, and the lease has also been executed by the 
President of the Boston Elevated Company, duly authorized. Before 
the lease should take effect, the Act of the Legislature authorizing it, 
required the approval of the Board of Railroad Commissioners. The 
lease has been presented to the Board and awaits the action of the Com- 
missioners, which it is presumed will be given at an early day. 

During the year laud has been purchased on Boylston Street, Cam- 
bridge, near Harvard Square, on the borders of the Charles River, for 
the erection of a power-house, which is at the present time very nearly 
completed. This house will contain three direct-coupled engines of 
1800 horse-power each, making a total of 5400 H. P. This will make 
the rated H. P. at all stations 30,950. The building which has been 
erected is a most substantial one, and has capacity for the installing of 
another engine. The chimney has been completed, of dimensions 
large enough for nearly double the capacity of the present house. The 
boilers and the machinery, both steam and electrical, with all the appur- 
tenances, are believed to be of the highest grade for efficiency and 
durability, and it is expected that when this house is completed and put 
into service it will be a model one in every particular. 

During the year there has been erected at Neponset, on land pur- 
chased for the purpose, a car house with capacity for ninety-two 25-foot 
cars. This car house is thoroughly equipped in every particular, con- 
taining a comfortable waiting room for passengers and rooms for the em- 



ployes, and is a substantial and practical house for the operation of the 
cars. 

An addition has been made to the car house at Mt. Auburn Station 
with a capacity for thirty-one 2 5 -foot cars. The front of the former car 
house has been remodelled to give it a uniform appearance with the 
addition, and it is an attractive as well as a convenient car house for the 
operation of cars. 

At North Cambridge land has been purchased and an addition has 
been made to the former house large enough to accommodate ninety- 
three 25-foot cars. This is a brick structure of the most substantial 
construction. The front of the old house was rebuilt, making the entire 
front uniform. 

At the Reservoir car house an addition has been made on land 
owned by the Company, to accommodate thirty-seven 25-foot cars. 

On Sewell Place, Brookline, there has been made on land belonging 
to the Company, an addition to the then existing car house, to accomo- 
date fifty-five 2 5 -foot cars. This is in a residential section, and care was 
taken to make the building when completed one that could not be ob - 
jected to. This it is believed has been accomplished, and the style of 
the building and the arrangements for handling the cars have given 
great satisfaction. 

At Lotus Place, near Forest Hills Station, on land owned by the 
Company, there is at this time in process of erection a car house 
with capacity for forty-seven 25-foot cars. A contract has been made 
for the erection of a building of iron and fire-proof material, and it is 
expected that this will be a satisfactory addition to the car house 
equipment of the Company. 

The opening of the Subway has made it necessary to change the 
routes upon several of the lines of cars, it being deemed desirable to 
have them terminate in the Subway when it is practicable to do so. 

New construction of track during the past year has been made as 
follows : About three miles of track has been laid in the subway. On 
Broadway, Everett, from Ferry Street to Maiden, a new double- track 
has been built. Double track has also been laid nearly the whole length 
of Columbus Avenue Extension from Centre Street to Washington 
Street. 

No single track road has been built during the year, and several 
lines which were formerly single track have been made double. Among 
these are as follows: On Massachusetts Avenue, Arlington, from 
Towell Street to Park Avenue ; on Mt. Auburn Street, Watertown, to 
Main Street; on Centre and Washington Streets, Newton, from the 



8 

Watertown Line to the Boston & Albany Railroad ; on Beacon Street, 
Hampshire Street and Somerville Avenue, from Cambridge Street to 
Massachusetts Avenue. 

There have been purchased during the year one hundred and 
seventy-five 9-bench open cars. At the date of the Annual Report, 
September 30, 1897, the Road was under contract for sixty 25-foot 
box cars, which have since that date been received, but are not included 
in the report. 

Maintenance and repairs of track are a large item in the expenses of 
the Company. There has been expended during the year for this pur- 
pose $831,411.51. 

There has been used on new construction and on repairs of track 
5984 15 15/2240 tons of rails. 

There has been expended for girder special work $116,372; for tram 
cast special work, $13,447. 

These items do not include the cost of laying the same. 

On September 30 the Company had underground conduits laid with 
a length of 9.15 miles, containing 120.32 miles of duct, — 47.02 miles of 
feeder cable, — 2.78 miles of telephone cable, — 18.43 miles return cable 
with duct, and of buried return cables other than in duct, 35.67 miles. 
Quite a percentage of this was in sections outside of the prescribed 
district for laying underground cables. 

The passenger car mileage for the year has been 29,786,936 miles, 
an increase over the previous year of 3,945,029 miles. 

The number of revenue passengers carried has been 172,554,513, an 
increase over the preceding year of 5,692,225. 

The number of free transfer passengers carried during the year has 
been 23,777,726, an increase over the previous year of 6,211,365. 

This makes the' total number of passengers carried in the cars 
196,332,239. 

The number of employes in all departments is 5,095. 

A full and detailed statement of the financial condition of the Com- 
pan}' and of its operation during the year is submitted in the accom- 
panying report of the Auditor. 

Respectfully submitted, 

SAMUEL LITTLE, Preside?it, 

For the Board ok Directors. 



AUDITOR'S REPORT. 



Boston, November ioth, 1897. 

To the Preside?it and Directors of the West E?id Street Railway 
Company : 

Gentlemen : — 

I herewith submit the following statements of the business of the 
Company for the fiscal year ending September 30th, 1897. 

A. General Balance Sheet. 

B. Income Account. 

C. Surplus Account. 

D. Detail op Earnings and Expenses. 

E. Trappic Statistics. 

F. Construction Accounts. 

G. Real Estate Accounts. 
H. Equipment Accounts. 

I. Mileage op Track and Electric L,ine Equipment. 

J. Equipment September 30, 1897. 

K. Memorandum op Stockholders September 30, 1897. 

Yours Respectfully, 

H. E. WILSON, 

Auditor. 



IO 



A. 

GENERAL BALANCE SHEET. 

CONSTRUCTION, EQUIPMENT AND REAL ESTATE. 

Construction $6,360,444.98 

Real Estate 4,468,469.74 

Power Stations (buildings and equipment) 3,782,333.11 
Electric Car Houses and Shops (buildings 

and equipment) 2,098,459.13 

Electric Line Equipment 1,974,950.74 

Cars (2661) 5.763,287.35 

Horses (487) • . . 36,525.00 

General Equipment . 521,312.13 

Subway Construction and Equipment . 133,131.04 

Total Cost of Road, Equipment and Real Estate, $25,138,913.22 

SUNDRY ITEMS. 

Maiden and Melrose Railroad Co. ... $ 1.00 

Somerville Horse Railroad Co 301,293.98 

Furniture and Fixtures 778.24 

Stocks and Bonds 3,002.00 

Total Sundry Items 305,075.22 

CASH ASSETS. 

Cash, on hand and in bank $975,472.87 

Cash with Trust Co. for Dividend to be 

paid Oct. 1 363,400.00 

Cash with Trust Co.'s for Redemption of 

Bonds 49,050.00 

Material and Supplies 509,566.48 

Accounts Receivable 411,614.20 

Insurance 110,318.16 

Total Cash Assets and Accounts 2,419,421.71 

Total Assets $27,863,410.15 



II 



A. 

SEPTEMBER 30, 1897. 

CAPITAL STOCK. 

Common Stock $9,085,000.00 

Preferred Stock 6,400,000.00 

Total Capital Stock $15,485,000.00 



FUNDED DEBT. 



Bonds Metropolitan R. R. 
Middlesex R. R. 
Highland St. Ry. 
Highland St. Ry. 
Boston Con. St. Ry. 
So. Boston H. Ry. 
Cambridge R. R. 
Cha's River St. Ry. 
West End St. Ry. 
West End St. Ry. 
West End St. Ry. 
West End St. Ry. 



due 
due 
due 
due 
due 
due 
due 
due 
due 
due 
due 
due 



in 1903, 5% 
in 1904, 5% 

in 1898, 6% 

in 1902, 5% 

in 1907, 5% 

in 1905, 5% 
in 1903, 5% 
in 1904, 5% 



$500,000.00 
200,000.00 
100,000.00 
300,000.00 
500,000.00 
200,000.00 
480,000.00 
150,000.00 



in 1902, 5% 3,000,000.00 
in 1914, 4.%% 2,000,000.00 
in 1916, 4% 815,000.00 
in 1917, 4% 2,700,000.00 



Total Funded Debt 10,945,000.00 



CURRENT LIABILITIES. 



Current Bills $169,560.63 

366,692.41 

91,671.51 

34,155.00 

8,065.50 

49,050.00 

*7. 733-79 



Taxes (audited but not yet due) 

Unpaid Wages 

Coupon Interest uncalled for 

Dividends uncalled for 

Bond Redemption Deposit uncalled for . 
Outstanding Tickets and Checks . . . 

Total Current Liabilities ..... 



SUNDRY ITEMS. 

Accrued Interest not yet due $129,541.68 

Accrued Rentals not yet due 3,825.00 

Accrued Preferred Dividend, to Sept. 30, '97 128,000.00 
Common Dividend to be paid Oct. 1, '97 363,400.00 

Total Sundry Items 

PROFIT AND LOSS. 

Surplus . ' 

Total Liabilities • • . . . 



736,928.84 



624,766.68 



71,714.63 



,27, 863, 410.15 



12 

B. 

INCOME ACCOUNT FOR THE YEAR. 

DEBIT. 

Operating Expenses $6,213,708.56 

Taxes 372,460.18 

Coupon Interest 487,600.00 

Miscellaneous Interest 5,619.04 

Rental of Subway 2,714.61 

Rentals of Leased Road 11,981.73 

Preferred Stock Dividends . . . 512,000.00 

Common Stock Dividend, paid April 1st, 1897 • • • 3 I 7,975-°o 

" to be paid October 1st, 1897 363,400.00 

Balance carried to Surplus Account 431,572.66 



$8,719,031.78 



13 



B. 



ENDING SEPTEMBER 30, 1897. 



CREDIT. 



Gross Earnings 

From Passengers 

' ' Sales of Manure . . 
' ' Rent of Tracks . . . 
" Rent of Real Estate 
" Advertising .... 
" Interest on Deposits 
" United States Mail Cars 
1 ' Miscellaneous Income 



1,719,031.78 



8,536,285.83 
744.81 
32,400.65 
53,842.84 
62,095.00 
13,310.64 
19,379.64 

972.37 



5,719,031.78 



i897- 

Sept. 30. 



14 

c. 

SURPLUS ACCOUNT FOR THE YEAR. 

DEBIT. 

To book value of old track taken up during 

year and not replaced, now written off . . $62,837.41 

To loss on Real Estate sold or destroyed . . 81,876.25 

To discount on 4% Bonds sold 48,627.00 

To premium on Cambridge R. R. bonds 

redeemed 3,000.00 

To amount charged to the account of the 

Maiden and Melrose Railroad Co. now 

written down to the amount of one dollar. 214,518.83 
To loss on the Maiden and Melrose Railroad 

Co. Stock 38,399.00 

To credit balance carried to next year . . . 71,714.63 



552o,973-i2 



1896. 

Sept. 30. 
1897. 
Sept. 30. 



15 

c. 

ENDING SEPTEMBER 30, 1897. 
CREDIT. 

By balance from previous year $9,921.87 

By amount previously credited to Insurance 

Sinking Fund 79.478-59 

By Balance of net income for the year in 
excess of charges and dividends, as per 
Statement B 431,572.66 



$520,973.12 



i6 



D. 



EARNINGS AND EXPENSES. 



Gross Earnings. 

From Passengers $8,536,285.83 

Rent of Tracks 32,400.65 

Sales of Manure 744-8 1 

Rent of Real Estate 53,842.84 

Advertising 62,095.00 

Interest on Deposits ■ 13,310.64 

U. S. Mail Cars 19,379.64 

Miscellaneous Income '972.37 

Total $8,719,031.78 

Operating Expenses. 

For General Expenses $500,873.55 

Maintenance of Track 831,411.51 

Maintenance of Buildings 98,518.83 

Maintenance of Cars and Vehicles . . . 421,327.70 

Maintenance of Horse Equipment. . . 15,100.08 

Maintenance of Electric Equipment . . 511,184.98 

Road and Snow Expense,, 210,464.80 

Transportation Expenses 3,133,041.00 

Injuries and Damages 491,786.11 

Total $6,213,708.56 

Net Earnings $2,505,323.22 

♦Decrease. 



Increase over 
Previous Year 

$337.37I-58 

*53-78 
30.86 

i9,575-72 
10,010.99 

5,877-09 

3,953-73 

307-30 

fo77,073-49 



$ 31,167.87 

*io7»337-4i 

295.88 

*294, 797-24 

*i9, 495-42 

•153.848.5i 

63,643-73 
187,674.42 

171,786.11 

*$i20,9io.58 

$497,984.07 



17 
E. 

TRAFFIC STATISTICS. 

ROUND TRIPS. 

Run by Passenger cars 2 »955. I 97 

Run by U. S. Mail cars 15,454 

Total 2,970,651 

REVENUE MIEES. 

Run by Electric Passenger cars 29,450,978 

Run by Horse Passenger cars 335, 958 

Run by Electric U. S. Mail cars 166,655 

Total 29,953,591 

PASSENGERS CARRIED. 

Revenue Passengers on Electric cars 171,227,459 

Revenue Passengers on Horse cars 1,327,054 

Total Revenue Passengers 172,554,513 

Free Transfer Passengers on Electric cars ... . . . '. . 23,777,726 

Total 196,332,239 

RECEIPTS. 

From Revenue Passengers on Electric cars $8,470,646.40 

From Revenue Passengers on Horse cars . , 65,639.43 

Total Passenger Receipts $8,536,285.83 

From U. S. Mail cars 19,379.64 

Total Receipts from car operation $8,555,665.47 

Average Receipts per revenue passenger . . • 4.947 cents 

Average Receipts per total passenger 4.348 cents 



i8 



F. 



CONSTRUCTION ACCOUNTS. 



RECONSTRUCTION OF TRACKS. 



The length of tracks rebuilt with heavy girder rail dur- 
ing the year amounts to 19.048 miles, the rail mainly 
used weighing 95 pounds to the yard. 
The total cost of this work has been 

which has been charged to the expense account. 



5241,406.70 



CONSTRUCTION. 



This account has been charged during the year with the 
cost of the construction of 2.831 miles of main line 
track, 5.961 miles of second track, .585 miles of 
curves, sidings, etc. and 3.015 miles of track in car 
houses and yards, or a total of 12.392 miles of new 
track, the total cost being 

Credit has been given for book value of 1.79S miles of 
main line track, .956miles of second track, .159 miles 
of curves, sidings, etc. and .578 miles of track in 
car houses and yards, or a total of 3.491 miles of 

track taken up 

Net increase of this account for the vear 



$149,711.24 



62,837.41 
$86,873.83 



i9 
G. 

REAL, ESTATE ACCOUNTS. 

Real Estate. 

charges. 

Sundry purchases of land for Power Station, Car Houses, 

etc $68,666.55 

CREDITS. 

Credit for Eand and Buildings sold $97,080.12 

Credit for Buildings removed and destroyed, and loss 

written off during the year 81,876.25 

Total Credits $178,956.37 

Net reduction of Real Estate for the } T ear $110,289.82 



Power Stations, 
charges. 

Power Station Construction. — Amount expended 

on buildings and wharves during the year ..... $76,450.52 

Power Station Equipment. — Amount expended for 
new Engines, Boilers, Generators, and Electrical 
Equipment of stations during the year 126,052.39 

Total charge to this account for the year . . . $202,502.91 



Electric Car Houses and Shops. 

charges. 

Amount expended on new car houses and additions to 
existing car houses to adapt them to use for Electric 
Cars $111,255.55 

New Machinery, Tools, and Miscellaneous Equipment at 

Electric Car Houses and Shops 4,245.20 

Total charge to this account for the year . . $115,500.75 



20 

H. 

EQUIPMENT ACCOUNTS. 

Horses. 
Credit has been given. 
For decrease in number of horses owned. 

61 horses (a) $75x0 $4,575.00 



Cars. 

charges. 

This account has been charged with 108 twenty-five foot 
box, and 175 nine bench open electric motor car 
bodies, 450 motors and electric equipments, 334 trucks, 
and 50 sets controllers $410,653.98 

CREDITS. 

Book value of 29 box car bodies, 28 open car bodies, 45 
motors, and 64 trucks sold, destroyed or transferred 
and depreciation written off 116,811.29 

Net increase of account for the year $293,842.69 

Electric Line Equipment. 

charges. 

Wiring Track underground $2,020.33 

Poles, and Setting same 9,238.45 

Overhead Electric Equipment 8,088.54 

Feeder Lines 8,152.85 

Underground Conduits and Cables - . . 110,554.64 

Total addition for the year $138,054.81 

General Equipment. 

CHARGES. 

Amount expended for Electric Snow Plows and Electric 

Coal Car, including 3*5 Motors ' $51,015.47 

credits. 

Harness, vehicles, machinery, tools and miscellaneous 
equipment sold, destroyed, or transferred and de- 
preciation written off 1,162.05 

Net increase of this account for the year S49.853.42 



21 



I. 

MILEAGE OF TRACK AND ELECTRIC LINE EQUIPMENT. 

Track. 

Changes during the year have been as follows : 

Total track owned Sept. 30, 1896 . 284.183 miles 



Additions for extensions during the year 
Total 



Reductions for track taken up during the year . . 

Net length of track owned Sept. 30, 1897 . 
Operated under leases 

" under trackage privileges 

Total track operated Sept. 30, 1897 

which is made up as follows : 

Length of main line .' 154.918 miles 

of second track 113.566 " 

" of sidings, car house curves, 

cross-overs, etc 7.826 " 

" of track in car houses and 

yards 28.152 " 

Total , . ~ . . 



12.392 
296.575 

3-491 

293.084 

9.266 

2. 112 

304.462 



304.462 



1.02 



The total length of tracks unpaved in streets is. ... 

The total length of track unpaved in reservations is . l 5-3 2 

The total length of track built with heavy girder rail is 223.54 

The total length of track built in the subway is . . . 2.68 

The w r eight of girder rail is from 70 lbs. to 100 lbs. per yard. 

Electric Line Equipment. 



Miles of track completely equipped with electric overhead 

system 

Miles of track partially equipped (underground wiring only) 

Miles of overhead electric feeder lines 

Miles of underground conduit 

Miles of underground conduit duct .... 

Miles of underground electric feeder lines 

Miles of underground electric return lines 

Miles of submarine cables 



293-540 

2.798 

442.066 

9-154 

120.317 

47.027 

54-IQ7 
2.052 



22 

I 

J. 

EQUIPMENT. 

September 30, 1897. 

Box Cars, Horse 212 

Open Cars, Horse 76 

Box Cars, Electric, 16-foot bodies » 70 

Box Cars, Electric, 20-foot bodies 335 

Box Cars, Electric, 25-foot bodies 761 

Open Cars, Electric, 7 or 8 benches 580 

Open Cars, Electric, 9 benches 567 

Open Cars, Electric, 10 benches 47 

Mail Cars, Electric 11 

Motor Cars, Electric 2 

Horses .... 487 

Electric Motors 3121 

Snow Plows, Horse 78 

Snow Plows, Electric 150 

Snow Sleds 393 

Miscellaneous Vehicles 482 



23 

K. 

MEMORANDUM OF STOCKHOLDERS SEPTEMBER 30TH, 1597. 



State of 

Massachusetts 

California . . 

Colorado . . 

Connecticut . 

Dist. of Columbia 

Florida . 

Georgia . 

Illinois . 

Indiana . 

Kansas . 

Kentucky 

Louisiana 

Maine 

Maryland 

Minnesota 

Missouri 

Michigan 

Montana 

Nebraska 

New Hampshire 

New Jersey . . 

New York . . 

No. Carolina 

Ohio 

Pennsylvania . 
Rhode Island . 
South Carolina 
Tennessee . . . 
Vermont . . . 
Virginia . . ■ 
Wisconsin . . 
Foreign Countries 



No. of holders 
Preferred Stock. 


No. Shares 
held. 


No. of holders 
Common Stock. 


No. Shares 
held. 


3,34° 


116,037 




2,883 


152 


,422 


8 


743 




4 




287 


i 


10 




■ • 




• • 


14 


201 




58 


2 


.251 


ii 


142 




4 




58 


5 


88 




1 




IO 


i 


10 




• • 




- • 


12 


191 




8 




127 


I 


25 




• • 




• • 


I 


3 




1 

1 




IO 
300 


I 


60 




• • 




• • 


57 


2,003 




46 


I 


,128 


6 


75 




2 




IOO 


3 


5i 




• ■ 




■ • 



148 

5 
60 

1 

6 

17 

42 

2 

9 
1 

2 

1 1 



3,7 66 



No. of Stockholders as Trustees • 
Amount of stock held by Trustees 
No. of Women Stockholders . . 
Amount of Stock held by Women 



40 



2,962 

67 

2,553 
6 

177 

169 

1,636 

7 

238 

7 
36 

463 
128,000 

Preferred 
518 

26,079 

1,854 

44,OIO 



1 4 

1 22 

1 4 

1 60 

132 3,184 

10 296 

69 10,964 

6 815 

12 5,766 

50 2,537 

1 50 
10 299 

2 35 
19 97 1 

3,323 181,700 

Common. 
132 

shares. 7,738 shares. 

i,3 l6 
shares. ' 26,928 shares. 



West End Street Railway Co, 
Boston Elevated Railway Co, 



LEASE. 



^Tl)i# ^tltientUre, made in duplicate, this 
day of , a.d. 1897, by and between the West 

End Street Railway Company, a corporation existing under 
and by virtue of the laws of the Commonwealth of Massachusetts, 
party of the first part, and hereinafter denominated the " Lessor," 
and the Boston Elevated Railway Company, a corporation exist- 
ing under and by virtue of the laws of said Commonwealth, party 
of the second part, and hereinafter denominated the " Lessee," 

WITNESSETH, That the said parties, each for itself, its 
successors and assigns, and each in consideration of the grants, 
covenants and engagements herein made by the other, have granted, 
covenanted and agreed, and do hereby grant, covenant and agree, 
each to and with the other, and its successors and assigns, as fol- 
lows, to wit : 

I. 

The Lessor doth grant, assign, transfer, demise and lease unto 
the Lessee, its successors and assigns, subject to all legal obliga- 
tions and incumbrances thereon, its railway and property of every 
description; including therein its railway, branches, tracks, side- 
tracks, road-beds, lands, stations and station grounds, viaducts, 
shops, car-houses, power-houses, buildings, fixtures, cars, horses, 
rolling stock, machinery, tools, furniture, patents, licenses, tele- 
graphic and electrical apparatus, poles, wires, conduits, equip- 
ment, material and supplies and cash on hand at the inception of 
this lease, and all accounts and notes receivable, whether se- 
cured by mortgage or otherwise, and all rights, franchises, 
easements, privileges and appurtenances thereto belonging, to- 
gether with the right to demand and receive all tolls, rent, reve- 
nue, income and profits of the demised premises; including 
therein, subject to all the duties, obligations and undertakings 
thereby imposed, all the rights, privileges and powers granted and 
conveyed to the Lessor by a certain contract between it and the City 
of Boston, acting by the Boston Transit Commission, dated Decem- 
ber 7th, a.d. 1896; and also including therein, subject to all legal 



obligations and incumbrances thereon, all the right, title and in- 
terest of the Lessor in and to any and all street railways operated 
by it, directly or indirectly, under lease or operating contract or 
through ownership of stock or otherwise, and in and to any stock of 
other street railway companies, all dividends thereon, and its right 
of voting thereon, and in and to any bonds, obligations and con- 
tracts of or with other corporations or individuals and all income or 
other advantages and benefits to be derived therefrom. 

TO HAVE AND TO HOLD all and singular the demised 
premises to the Lessee, its successors and assigns, for and during 
the term of ninety-nine years from and after the first day of Octo- 
ber a.d. 1897, the said Lessee keeping and performing the cove- 
nants herein contained on its part to be kept and performed and 
yielding and paying rent for the said premises to the amount and 
in the manner following, to wit : 

1. The Lessee shall pay all operating expenses of the Lessor and 
of all railways of which it shall come into possession under and 
by virtue of this instrument, there being included therein, as part 
thereof, all repairs and, subject to the provisions of Article VI., 
all renewals; all expenditures arising out of any contract, obliga- 
tion, business, negligence or misfeasance, or however otherwise 
arising, and whether the liability for the same now exist or be 
hereafter created, in any way connected with the use and operation 
of the demised premises, except the scheduled indebtedness here- 
inafter mentioned, and including damages to persons or property, 
insurance, taxes of every description, federal, state or municipal, 
levied upon the Lessor's property, income, business, franchises or 
capital stock, or by law required to be deducted from any amounts 
payable upon the Lessor's stock; all expenses consequent upon 
or incidental to the renewal or refunding of the Lessor's indebted- 
ness, or that of any company for which it is responsible; all neces- 
sary legal expenses of the Lessor; all expenses incidental to the 
transfer and registration of the Lessor's stock and bonds, provided 
that the Lessee shall have the right to designate from time to time 
the registration and transfer agents, and if at any time the Lessor 
is disatisfied with the responsibility of any transfer or registration 
agent so designated another agent shall be designated unless the 
Arbitral Board hereinafter mentioned shall approve of the continu- 
ance of the first agent; any expenditures hereinafter declared to be 



operating expenses; and the expenses of maintaining the organiza- 
tion of the Lessor, for which expenses, in addition to sufficient and 
suitable offices in Boston, with appropriate furniture and fittings 
to be supplied by the Lessee, there shall be paid to the Lessor 
at the end of each successive six months during the term of this 
lease, the sum of three thousand seven hundred and fifty (3750) dol- 
lars ; provided, however, that the Lessor shall, from the proceeds of 
bonds heretofore issued or authorized, or of stock or bonds, or both, 
hereafter to be issued and authorized, as provided in Article IV., 
from time to time repay to the Lessee all sums which the Lessee 
shall pay on account of any indebtedness existing at the date hereof 
which has been incurred for permanent additions or improvements 
to the demised property, or which it may be obliged to pay under any 
existing contract for like purposes, or which it may be obliged to 
pay for the purpose of completing any work in the nature of such 
permanent additions or improvements already in part or in whole 
contracted for by the Lessor; and provided further that the Les- 
sor shall at the expiration or earlier termination of this lease 
reimburse the Lessee for all sums which it, the Lessee, may be 
obliged to pay on account of any indebtedness or liability of the 
Lessor existing or incurred prior to the inception of this lease 
other than for permanent additions or improvements, and also for 
such proportional part of all rentals, taxes, interest and dividend 
charges on preferred stock, as shall have accrued prior to the 
date hereof and shall be paid by the Lessee. 

2. The Lessee, during the continuance of this lease, shall pay, 
as the same may from time to time become due, the rental of any 
railway of which it shall come into possession, by virtue of this 
lease; shall pay to the holders thereof the interest on the existing 
indebtedness of the Lessor and on the existing indebtedness of 
any street railway company whose indebtedness the Lessor is 
under obligation to pay, a schedule whereof is hereto annexed, and 
the interest upon any future indebtedness created in the man- 
ner hereinafter provided. The Lessee shall assume and pay the 
current expenses and indebtedness upon open account of the 
Lessor outstanding at the inception of this lease, and the same 
shall be accounted for and reimbursed to the Lessee from the 
proceeds of stock or bonds as hereinbefore provided so fa'r as 
the indebtedness is for permanent additions or improvements, and 



at the expiration or earlier termination of this lease so far as the 
indebtedness is not for permanent additions and improvements. 

The Lessor shall turn over to the Lessee all cash on hand, all 
bills, notes and accounts receivable outstanding at the inception 
of this lease, and all sums received thereon and all cash on hand 
shall be accounted for and paid over to the Lessor without interest 
at the expiration or earlier termination of this lease, together with 
a sum equal to all then accrued and unpaid rentals, taxes, interest 
and dividend charges on preferred and common stock; provided, 
however, that so far as proceeds of bonds heretofore issued under 
authority of the Railroad Commissioners or authorized by them are 
received by the Lessee under this Indenture, such proceeds shall be 
applied by the Lessee to the specific purposes for which said bonds 
were authorized, and the Lessee shall not be obliged to account 
therefor except by showing that such proceeds have been so applied. 

3. The Lessee shall on the first day of April, 1898, and there- 
after on the first days of October and April in each year during 
the continuance of this lease, pay to each holder of record of com- 
mon stock of the Lessor a sum equal to two (2) dollars for each 
and every share of common stock so held by him, and shall, on 
the first days of January and July in each year, during the contin- 
uance of this lease, pay to each holder of record of the preferred 
stock of the Lessor a sum equal to two dollars per share for each 
and every share of preferred stock so held by him; it being the 
intent hereof that the stockholders of the Lessor shall receive four 
(4) per cent, semi-annually, net, during each and every year this 
lease continues in force. The Treasurer of the Lessor shall, at 
least five days before each date of payment, furnish the Lessee 
with a certified list of the holders of record of the common or pre- 
ferred stock of the Lessor entitled to dividends on such date. 



II. 

The Lessee, as assignee hereunder of the contract of the 
Lessor with the City of Boston for the use of the subway, dated 
December 7th, 1896, hereby assumes all liabilities of the Lessor 
under said contract, shall punctually pay to the City of Boston the 
compensation therein stipulated at the times and in the manner 
therein set forth, and shall fulfil every obligation, express or implied, 



5 

therein devolved upon the Lessor in the same manner and with the 
same effect as if said contract had been made with the Lessee. 

Such alterations of said subway and its approaches as may be 
necessary to connect the same with the Lessee's road and to adapt 
the same to the use of the Lessee's road, shall, if made by the 
Lessee, with the approval of the Transit Commission, be borne 
exclusively by the Lessee ; if, however, said alterations are made 
by the Transit Commission upon request of the Lessee, pursu- 
ant to the provisions of section 12 of chapter 500 of the Acts of 
1897, nothing herein shall be construed as requiring the Lessor to 
make or join in any agreement respecting the same ; provided, how- 
ever, that at the expiration or earlier termination of this lease, said 
subway, if it shall then be in the control of the Lessee, shall be de- 
livered to the Lessor in as good order and repair as the same shall 
be in when the use thereof shall be begun under said contract, and 
so that the same shall be equally well fitted for the independent use 
and operation thereof by the Lessor. 

Any failure to comply with the terms of said subway contract by 
the Lessee shall be deemed a violation of the covenants of this 
lease, giving the Lessor the rights and remedies herein provided in 
case of violation, including a right of entry and repossession if such 
failure shall have continued for sixty days ; provided, however, that 
if the Lessor shall at any time deem it necessary for its own protec- 
tion, it may itself make any payment required by said subway con- 
tract and may fulfil any other provision thereof, and in every such 
case, while retaining unimpaired all its rights and remedies against 
the Lessee, shall have the right to require the Lessee to indemnify 
it for all money thus expended and for all loss thus sustained. 

The Lessee, in anticipation of the expiration of said subway con- 
tract, shall use its best endeavors to agree with the City of Boston 
upon a new contract for a renewal or extension of the same upon 
the most favorable terms practicable, in which said new contract 
shall be embodied stipulations satisfactory to the Lessor, providing 
for the use and control of said subway by the Lessor upon the ex- 
piration or earlier termination of this lease. 

All of the provisions of this lease applicable to said existing sub- 
way contract shall apply to any contract renewing or extending the 
same in the same manner and with the same effect as if said new 
contract had been in existence at the inception of this lease. 

Extensions of said subway under the existing contract shall not 
be requested nor promoted by the Lessee except with the consent of 



the Lessor first had and obtained. In the event of any extension 
thereof under any other contract, or of the construction of any new 
subway, the use and control thereof if acquired by the Lessee shall 
be so acquired that upon the expiration or earlier termination of 
this lease, if such extension or new subway constitute an essential 
part of the Lessor's surface system, the same shall belong to the 
Lessor ; that if such extension or new subway constitute an essen- 
tial part of the Lessee's system, the same shall belong to the 
Lessee ; that if such extension or new subway be capable of con- 
current use by both systems, provision shall be made for such 
concurrent use by both Lessor and Lessee ; and that if such exten- 
sion or new subway constitute an essential part of both systems, 
but be incapable of concurrent use by both, the Arbitral Board 
provided for by Article XII., shall determine, in view of all the 
equities of the case and of all the private and public considerations 
involved, to which of said systems the use and control of said new 
extension or new subway shall belong. 

Provided, however, that the right of said Arbitral Board to assign 
the use and control of said new extension or new subway to the 
Lessee shall not affect or impair nor be affected or impaired by, 
the obligation hereinafter imposed upon the Lessee to return the 
Lessor's road without break of continuity or connection. 

III. 

The Lessee shall assume all traffic balances due from the Lessor 
to other companies ; shall assume and have the benefit of all con- 
tracts of the Lessor for equipment, supplies and material and all 
other contracts and liabilities of the Lessor to and with individuals 
or corporations express or implied (its contracts with the holders of 
its indebtedness as scheduled excepted ) ; shall assume and defend 
all suits against the Lessor arising out of or in any way connected 
with the past or future use or operation of the railways demised or 
directly or indirectly operated by the Lessee under and by virtue 
of this instrument, and shall pay all judgments obtained thereon 
against the Lessor or which the Lessor is under obligation to as- 
sume ; and shall assume and discharge all liabilities of the Lessor 
except as herein otherwise provided. 



IV. 

The Lessee shall pay the interest upon any portion of the indebt- 
edness of the Lessor or of any Company for whose indebtedness 
the Lessor is responsible that shall be renewed or extended during 
the term of this lease in like manner as upon the same indebtedness 
before renewal or extension. 

In case it shall become necessary under the provisions of this 
lease for the Lessor to make payment for permanent additions, 
alterations or improvements to the demised premises, or to pay or 
refund any portion of the indebtedness mentioned in the annexed 
schedule, or any indebtedness hereafter incurred and scheduled, or to 
pay or fund any indebtedness contracted for permanent additions and 
improvements prior to the inception hereof, or to make any repay- 
ments to the Lessee for expenditures made by it for the foregoing 
purposes, the Lessor shall, from time to time at the request of the 
Lessee, issue additional stock or bonds, or both, to an amount suffi- 
cient for the purpose so far as it may legally have or can obtain the 
right so to do. In such cases the Lessor shall, at the expense and 
under the direction of the Lessee, do all such acts and things as may 
be necessary or proper to obtain the requisite authority for the issue 
desired from the Board of Railroad Commissioners or from any 
other board having jurisdiction in the premises or from the Legis- 
lature. Said stock and bonds so issued shall, except so far as other 
provision is made by law, be sold under the direction of the Lessee. 
In so far as the proceeds of any issue of stock or bonds exceed the 
amount to obtain which the issue has been authorized, the excess 
shall be paid over to the Lessee to be invested by it in permanent 
additions, alterations or improvements to the demised property, 
under the provisions of Article VI. 

The Lessee shall in all cases have authority as between the parties 
to decide whether stock or bonds, or both, and what amount thereof, 
shall from time to time be issued, and shall also have the right to 
determine the rate of interest upon all interest-bearing obligations, 
and the time for which they shall run, whether the same are issued 
for the purpose of refunding or paying indebtedness or for the pur- 
pose of paying for permanent additions, alterations or improvements 
to or upon the demised property ; provided, however, that no bonds 
shall be issued in excess of the outstanding capital stock of the 
Lessor ; that no bonds shall be issued to become payable after the 
expiration of this lease without the consent of the Lessor ; that all 



8 

bonds shall be payable in lawful money of the United States, unless, 
in the case of bonds issued to refund gold bonds of the Lessor 
already outstanding, the parties shall otherwise agree ; that no such 
bonds shall be sold at less than par ; and that the benefit of all 
reductions in interest shall accrue to the Lessee. All stock issued 
as provided in this article shall from the time of such issue be 
deemed part of the Lessor's capital stock within the provisions of 
Clause 3 of Article I. of this Indenture, and all bonds so issued 
shall be scheduled and the interest paid as part of the Lessor's 
indebtedness under and pursuant to Clause 2 of Article I. 



V. 

The lessor shall make and execute such other leases or operating 
contracts with other street railway companies as the Lessee may re- 
quest, every such lease or contract, however, if the Lessor shall so 
elect, to expire simultaneously with the expiration or earlier termina- 
tion of this lease, and all obligations, liabilities and losses arising 
therefrom to be assumed and sustained exclusively by the Lessee. 

The Lessee shall have the right of voting on all stock owned by 
the Lessor in other corporations, and said stock shall not be sold or 
otherwise disposed of except with the assent of both the Lessor and 
the Lessee. 

VI. 

The Lessee shall have the right at its own expense to alter the 
tracks of the demised railway and to build such sidings and branches 
as may be necessary to connect the demised railway with the sta- 
tions or railroad of the Lessee. 

The Lessee may from time to time make such additions to, altera- 
tions and improvements in the demised railway, its rolling stock, 
tracks, equipment, power-houses, car-houses, stations, structures and 
appurtenances, as it may deem necessary for the purpose of making 
better provision for the due and safe transportation of the public, or 
for the purpose of complying with any requirement of law or public 
or municipal authority, or for the purpose of reducing the operating 
expenses of the demised railway. 

The Lessor shall from time to time, either from moneys received 
by the Lessee under Article VII. or from the proceeds of stock and 



bonds lawfully authorized, and in no other manner, repay to the 
Lessee the cost of such permanent additions, alterations and im- 
provements made by the Lessee, as the Lessor may consent to, or, 
if such consent be refused, as the Arbitral Board provided for in 
Article XII. shall determine that the Directors of the Lessor, if 
actually operating the Lessor's road, would be justified in making in 
the interest of the Lessor. 

Permanent additions, alterations and improvements for which the 
Lessor may be called upon to pay under the provisions of this lease 
shall consist of, — 

(i) The abolition of grade crossings. 

(2) Additional rolling stock and its equipment. 

(3) Additional track mileage and its equipment. 

(4) Additional real estate. 

(5) Additional stations, additional power-houses with their equip- 
ments, and additional car-houses with their equipments. 

(6) Additional bridges, buildings and other structures. 

(7) Renewals of or substitutions for stations, bridges, buildings 
and other structures, tracks and equipment, rolling stock and 
equipment, power-houses and equipment and car-houses and equip- 
ment, so far as the cost of such renewals or substitutions exceeds 
the cost, when new, of the things renewed or the things replaced. 

Provided, however, that the road of the Lessor shall so far as 
practicable continue unimpaired in length and value; that no part 
of the same shall be voluntarily discontinued except with the con- 
sent of the Lessor; that road discontinued by compulsion of law in 
consequence of the result of the construction and operation of the 
Lessee's elevated road, shall, within a reasonable time, be made good 
to the Lessor by other road of equal value constructed by the 
Lessee at its own expense, or otherwise shall be paid for at its 
value in money to be applied as in case of the proceeds of real estate 
under Article VII. ; and that new track mileage shall be deemed a 
permanent addition or improvement hereunder only when increasing 
the mileage of the Lessor's road as existing at the inception of this 
lease, or when exceeding in cost the cost of road previously discon- 
tinued, and then only to the extent of such increase or such excess 
of cost. Track mileage discontinued or removed from Tremont 
Street in Boston between Boylston Street and Scollay Square and 
from Boylston Street between Park Square and Tremont Street 



IO 

under the provisions of section 35 chapter 548, Acts of 1S94, and 
all track mileage discontinued under compulsion of law which has 
been paid for by the Lessee as above provided, shall, for the purpose 
of computing additional mileage to be paid for by the Lessor, be 
deducted from the aggregate mileage of the Lessor's road existing 
at the inception of this lease. 

Any moneys from time to time in the possession of the Lessee 
which are by the terms of this Indenture applicable to such purpose 
shall first be applied, to the repayment to the Lessee of the cost of 
permanent additions, alterations and improvements, and only the 
balance remaining unpaid shall be paid from the proceeds of stock or 
bonds or both to be issued by the Lessor as provided in Article IV. 

The Lessee shall have the right to apply for the necessary con- 
sent of the Lessor or for the necessary certification or determination 
of said Arbitral Board either before said additions, alterations and 
improvements are made or within one year thereafter. 

The Lessee shall not directly or indirectly locate or construct, or 
through any agency or device promote or aid in the location or con- 
struction of any surface street railway paralleling or in any way com- 
peting with any surface street railway, or any portion thereof, demised 
to or directly or indirectly operated by the Lessee by virtue of this 
lease. 

VII. 

Real estate of the Lessor in the judgment of the Lessee not 
required by the Lessee for the conduct of its business may be sub- 
let by the Lessee for a period not longer than the expiration or 
other earlier termination of this lease. 

Such real estate may also be sold with the consent of the Lessor 
to be given upon the reasonable request of the Lessee, and the 
proceeds of said sale shall be received by the Lessee and applied 
cither to purchasing and retiring the outstanding indebtedness of 
the Lessor as scheduled or to making permanent additions, altera- 
tions or improvements upon the property demised or operated by 
virtue of this lease, — as the parties hereto may agree. If such pro- 
ceeds are applied to retire outstanding indebtedness, the annual 
rental to be paid by the Lessee under Clause 2 of Article I. hereof 
shall be reduced by the amount of the saving in interest charges 
thereby effected. 



1 1 

If the parties are unable to agree as to whether a sale of said 
real estate is reasonable or upon the terms thereof or upon the 
application of the proceeds, the matters in difference shall be 
determined by the arbitrators provided for in Article XII. hereof. 

If the City of Boston, upon the expiration or any earlier termina- 
tion of said Subway contract, shall take over and become the owner 
of the tracks, wires, appliances, fixtures, machinery and other 
equipment of said Subway, any money paid for the same, so far as 
such money shall represent Subway equipment supplied by the 
Lessor, shall be applied or disposed of in the manner in this Article 
prescribed respecting the proceeds of sale of real estate. 

The Lessee shall also receive any money paid by the City of 
Boston on account of Subway equipment, also all money not yet 
received to which the Lessor may be or become entitled for land or 
property taken by public authority, either before or after the date 
hereof, or for injury or damage to the same and apply the same as 
hereinabove provided with respect to the proceeds of real estate. 

VIII. 

The Lessee shall, subject to the special provisions of this In- 
denture, at its own expense maintain and keep the demised prem- 
ises and all the property and fixtures of every description which it 
shall receive or operate under this lease in as good order and con- 
dition as the same now are or shall be when received by the 
Lessee, so that there shall be no depreciation as to quality or 
quantity in the same or any part thereof, and, at the expiration or 
earlier termination of this lease, shall, subject to the special 
provisions of this Indenture return the same to the Lessor in the 
same good order and condition, and put the Lessor in possession 
of all the railways and property at said time demised to the 
Lessee under this Indenture. The Lessee shall use and ooerate 
said railways and properties so demised and operated in accord- 
ance with all laws of the Commonwealth of Massachusetts, all 
municipal ordinances, and all orders of the Railroad Commissioners 
or of any public authority that may be applicable thereto; shall, 
subject to the provisions of Article VI. furnish all horse or elec- 
tric or other power, all engines, rolling stock and equipment of 
every description required, in addition to the like property hereby 



12 

demised, for the due operation of the railways operated under and 
by virtue of this Indenture; shall observe and perform all the 
provisions of contracts of the Lessor with companies whose rail- 
ways now are or hereafter may be operated under this Indenture; 
shall keep the demised premises reasonably insured and shall 
apply the proceeds of any insurance to restoring or replacing the 
property destroyed or to making permanent improvements, not 
in the nature of ordinary repairs, upon the demised premises; 
shall apply the proceeds of the rolling stock, equipment and other 
personal property herein demised, which it may deem advisable to 
sell and which it is hereby authorized to sell at its discretion so 
as to substitute therefor like property of equal value; shall replace 
buildings or structures on the demised premises taken down or 
removed, and which the Lessee is hereby authorized to take down 
or remove at its discretion, with other buildings, structures or 
permanent improvements upon the demised premises of equal 
value and equally convenient for the use of the Lessor at the 
expiration or earlier termination of this lease, or shall apply 
a sum of money equal to the value thereof in the same manner as 
the proceeds of real estate are to be applied under Article VII. \ 
shall permit the demised premises to be inspected annually by the 
Lessor's Directors and by some competent person appointed by 
the Lessor who shall report to the Lessor the condition of said 
premises and shall, for the purpose of such inspection, be fur- 
nished with free transportation over the railways operated under 
and by virtue of this Indenture and shall receive a reasonable com- 
pensation for his services to be paid by the Lessee; shall make 
all returns required by law and shall furnish the Lessor with such 
abstracts of accounts as shall enable it to make all returns required 
of the Lessor; shall not assign this lease nor underlet the prem- 
ises or any part thereof without the written assent of the Lessor 
first had and obtained, except as provided in Article VII. hereof 
and except that nothing herein shall be construed to impair the 
right and power of the Lessee to mortgage or pledge the interests 
acquired under and by virtue of this lease in accordance with the 
authority conferred by chapter 500 of the Acts of 1897; and at the 
end of the term of this lease, or at any earlier termination thereof 
from any cause whatever, shall surrender the real and personal 
estate demised under and by virtue of this Indenture, to be ascer- 



13 

tained and determined according to the inventory hereinafter pro- 
vided for, in the like good order and condition in which they are 
at the inception of this lease, or when received by the Lessee or 
may be put during the term, with all improvements thereon or 
additions thereto, the amount of money, materials and supplies to 
be surrendered or accounted for to the Lessor to be equivalent in 
value to the amount on hand at the inception of this lease, as 
shown by said inventory, and all stocks, bonds and securities, or 
any bonds, stocks or securities substituted therefor under the pro- 
visions of this Indenture to be returned at the expiration or other 
earlier termination of this lease. 

Provided, however, that the continuity of the Lessor's road, 
whenever returned to the Lessor, and the connection between its 
several parts shall be such that said Lessor's road will be as well 
fitted for independent use and operation by the Lessor as at the 
inception of this lease, — -any compensation for mileage previously 
discontinued and paid for but restored or made good, under this 
provision, to be accounted for and reimbursed to the Lessee. 

IX. 

That the property herein demised, and to be accounted for at the 
expiration or earlier termination of this lease may be accurately 
determined, there shall be made, as of the day when this lease takes 
effect, a full, complete and particular inventory and description of 
all estate and property, real or personal, belonging to the Lessor, 
and coming into the possession of the Lessee by virtue of this lease, 
and to this, from time to time, shall be added such other estate and 
property as shall come into the possession of the Lessee under the 
terms of this Lease. Such inventory and description, with the addi- 
tions thereto from time to time, shall be made by two competent 
persons, one selected by each party ; in case of their disagreement, 
they shall refer the matter in difference to some third person, whose 
decision shall be final. Such inventory and description shall be 
made in duplicate, and an original furnished to each party, and 
shall be evidence of the nature and condition of the property 
demised at the inception of this lease, or at the time of the additions 
thereto in all cases in which any questions of the nature, condition 
or value may arise. The reasonable compensation for services and 
expenses of the persons making such inventory shall be paid by the 
Lessee. 



H 



X. 

The Lessor shall maintain its existence and organization as a 
corporation, and to that end shall comply with all the requirements 
and forms of law ; shall do all acts and things, and execute all legal 
instruments necessary and proper to put and secure the Lessee in 
the full enjoyment of all the property, rights, franchises and inter- 
ests herein demised, and to carry into effect the true intent and 
meaning of this Lease; and shall not increase its capital stock as 
now existing and issued nor its indebtedness except as provided in 
this Lease. To further secure the Lessee in the beneficial enjoy- 
ment of the property, franchises, rights and privileges herein de- 
mised and specified, the Lessor constitutes the Lessee its attorney 
irrevocable with full right and power, at the Lessee's expense, to 
use the name of the Lessor in all legal proceedings and in all cases 
needful for obtaining, holding and enjoying the premises herein 
demised and specified, and for all purposes consistent with the true 
scope and intent of this instrument. 

The Lessor further covenants that it will at the expense of the 
Lessee comply with all requirements of law and with the ordinances 
of all cities and towns in which the demised property is located, in 
so far as the Lessee cannot act in its stead, and that it will at the 
request of the Lessee, itself make applications for extensions or al- 
terations of tracks and locations where the Lessee cannot act in its 
stead, and will at all times when it cannot act by the Lessee as at- 
torney, itself do such acts and execute such papers as may be 
necessary or proper to carry out the true intent of these presents. 
Any locations, rights or property so acquired by the Lessor after the 
date hereof shall be made subject to the provisions of. this indenture. 
The Lessor also constitutes and appoints the Lessee its attorney in 
fact with full power to collect and receive all moneys due to the Les- 
sor, and to compromise or refer to arbitration all claims by or against 
the Lessor or its property.. 

XI. 

This lease is upon the condition that, if the Lessee shall at 
any time fail to punctually pay to the holders of the Lessor's in- 
debtedness and each of them the interest on the Lessor's indebted- 
ness as scheduled as the same shall become due and payable, or 



*5 

shall fail to make any payment as stipulated for in Clause 3 of 
Article I. hereof, then, and in such case, at any time after the 
expiration of thirty days from the time when written notice of such 
default has been served on the Lessee, the Lessor may if such 
default still continues enter upon the demised premises and upon 
any part thereof, as and for the whole, and expel the Lessee, and 
determine the estate hereby granted, and shall thereupon become 
seized and possessed of the demised premises, and of all premises 
then in possession of the Lessee or the Lessor under this indent- 
ure, and of every part thereof in its original right, and as if this 
lease had never been made; and upon the further condition, that 
if the Lessee shall fail to perform any other of the covenants and 
agreements in this lease contained, and such failure shall continue 
for six months after written notice of such failure from the Direc- 
tors of the Lessor, the Lessor shall have the like right to enter 
and expel the Lessee, and vest in itself its former estate in the 
demised premises, and all premises then in possession of the Lessee 
or the Lessor under this indenture, and every part thereof; provided, 
however, that such entry by the Lessor for breach of condition 
shall in no wise prejudice or impair any remedies to which it might 
otherwise be entitled for arrears of rent or preceding breach of 
covenant, or any other rights secured by this lease in case of its 
termination before the expiration of the time thereof. 



XII. 

In case of any disagreement between the parties hereto as to the 
true intent and meaning of this lease or any part thereof, or as to 
anything done under and by virtue of it, or growing out of it, the 
matter in controversy shall be determined by arbitrators to be 
chosen in the manner following: One shall be chosen by each of 
the parties hereto, or if either shall unreasonably fail or neglect 
to appoint an arbitrator when requested by the other, the Board of 
Railroad Commissioners or the Chief Justice of the Superior 
Court may, after clue notice to the party so failing or neglecting 
appoint an arbitrator. The third shall be selected by the two so 
chosen, or in case of their failure to choose a third, by the Board 
of Railroad Commissioners or the Chief Justice of the Superior 
Court. The arbitrators shall hear the parties, after due notice to 



i6 

each of them, and if either party fail to attend after such notice, 
may proceed ex parte. The award in writing of said arbitrators, 
or a majority of them, being duly notified to the parties, shall be 
final and conclusive upon them. The expenses and reasonable 
compensation of said arbitrators shall be paid by the Lessee. 

XIII. 

This lease shall take effect as of the first day of October, 1897, 
and all accounts between the parties shall be made up as of that 
date; provided, however, that on or before January 1, 1898, at 
least five millions (5,000,000) dollars in cash shall have been 
paid in upon the Lessee's capital stock, and that until such pay- 
ment the Lessor shall remain in possession and operation of the de- 
mised property, — -the Lessor accounting to the Lessee for all in- 
come in the interval ; and provided further that this lease shall not 
be valid until the terms thereof, as respects the rental or compen- 
sation to be paid and the due and safe transportation of the public 
shall have been approved by the Board of Railroad Commissioners. 

IN WITNESS WHEREOF, the said parties, by their respec- 
tive Presidents and Treasurers, thereunto duly authorized, have 
caused their corporate seals to be hereto affixed, and these presents 
to be executed the clay and year first above written. 



SCHEDULE OF INDEBTEDNESS REFERRED 

THE WITHIN LEASE. 



TO IN 



WEST END STREET RAILWAY COMPANY. 



Funded Debt. 

Bonds Highland St. Ry. due Jan. i, 1898, 6% . 
" " " due May 1, 1902, 5% . 

West End St. Ry. due Nov. 1, 1902, 5% . 
Cambridge R.R. due Apr. 1, 1903, 5% 
Metropolitan R.R. due Dec. 15, 1903, 5^ 
Chas. River St. Ry. due Apr. 1, 1904, 5% 
Middlesex R.R. due July 1, 1904, 5% 
So. Boston H. Ry. due May 1, 1905, 5% 
Boston Con. St. Ry. due June 1, 1907, 5% 
West End St. Ry. due Mar. 1, 19 14, ^\oj 
West End St. Ry. due May 1, 19 16, 4% . 
West End St. Ry. due Feb. 1, 19 17, 4.% ■ 



a 
a 
a 
a 
a 
u 
u 
11 
a 
a 



f 100,000.00 
300,000.00 

3,000,000.00 
480,000.00 
500,000.00 
150,000.00 
200,000.00 
200,000.00 
500,000.00 

2,000,000.00 
8l5,000.00 

2,700,000.00 

$10,945,000.00 



ELEVENTH, TWELFTH & THIRTEENTH 
ANNUAL REPORTS. 



OF THE 



West End Street Railway Co. 



1898, 1899, 1900. 



ELEVENTH, TWELFTH & THIRTEENTH 
ANNUAL REPORTS. 



OF THE 



West End Street Railway Co. 



Each Year Ending September ?o. 



Hooper, Lewis & Co. 
BOSTON. 



DIRECTORS AND OFFICERS, 



1897—1898. 



DIRECTORS. 



(ELECTED NOVEMBER, 23, 1897.) 



Samuel Little. 



G. T. W. Braman. 

T. Jefferson Coolldge. 
William Hooper. 
Albert C. Houghton. 
Joseph B. Russell. 



Samuel Spencer. 

Walter S. Swan. 

Stephen M. Weld. 

Moses Williams. 

Richard M. Saltonstall. 



Alfred VVinsor. 



EXECUTIVE COMMITTEE. 



William Hooper. 
Joseph B. Russell. 



The President (ex-officio.) 



Walter S. Swan. 
Alfred Winsor. 



Samuel Little 
Parkman Dexter 



OFFICERS. 



President. 

Treasurer and Clerk. 



West End Street Railway Company 



ELEVENTH ANNUAL REPORT. 

For year ending Sept. 30, 1898. 



Boston, Nov. 22, 1898. 

During the year ending Sept. 30, 1898, the first under the lease to the 
Boston Elevated Railway Company, dividends on the stock, interest on the 
bonds, and taxes have been paid by the lessee. 

This Company has also received, under the lease, $7500.00 with which 
to pay the expenses of the organization. 

Following is the General Balance of September 30, 1898. 

ASSETS LIABILITIES 
Road Bed, Tracks and Electrical 

Construction . . . 8,335,395.72 Common Stock 9,085,000.00 

Equipment 6,598,208.44 Preferred Stock 6,400,000.00 

Land and Buildings . 10,206,087.30 Bonds . . . 10,945,000.00 
Cash and Accounts 

Receivable . . . 1,363,621.64 Surplus . . . 73,313.10 

$26,503,313.10 $26,503,313.10 

Since the first of November the Boston Elevated Railway Company 

has presented an account of the cost of permanent additions and improve- 
ments made to the property of this Company during the year. 

This account has not yet been approved by the West End Street Rail- 
way Company, and is therefore not included in above statement. 

SAMUEL LITTLE, President, 

For the Board of Directors. 



DIRECTORS AND OFFICERS, 



1898—1899- 



DIRECTORS. 



(ELECTED NOVEMBER 22, 1898.) 



Samuel Little. 



G. T. W. Braman. 
Parkman Dexter. 
Albert C. Houghton. 
Joseph B. Russell. 
Samuel Spencer. 
Richard M. Saltonstall. 



Walter S. Swan. 

C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 

Alfred Winsor. 



EXECUTIVE COMMITTEE. 



The President, (ex officio.) 



Walter S. Swan. 
Charles A. Williams. 



Moses Williams. 
Alfred Winsor. 



Samuel Little 
G. T. W. Braman 
Parkman Dexter 



OFFICERS. 



President. 
Vice President. 
Treasurer and Clerk. 



West End Street Railway Company. 

TWELFTH ANNUAL REPORT. 



For year ending September 30, 1899. 



Boston, Nov. 28, 1899. 

The Directors would respectfully submit the following report : — 

On September 30, 1899, the General Balance of the Company was as 

follows : — 

ASSETS. 



Road Bed, Track and Electrical Construction 
Equipment ....... 

Land and Buildings ..... 

Cash- and Accounts Receivable 

LIABILITIES. 



19,022,765.30 
7,201,553.05 

10,778,311.63 
1,304,815-64 

$28,307,445.62 



Common Stock 
Preferred Stock 
Bonds 

Accounts Payable 
Surplus . 



$9,085,000.00 

6,400,000.00 

10,945,000.00 

1,804,055.02 

73,390.60 

$28,307,445.62 



The above item of Accounts payable amounts to $1,804,055.02 and is 
a liability of this Company only so far as it is made such by the terms of 
the lease between this Company and the Boston Elevated Railway Com- 
pany, and is payable only to the extent and in the manner provided in 
said lease. 



During the year ending September 30, 1899, two accounts for addi- 
tions and improvements, made under the terms of the lease, have been pre- 
sented to this Company, amounting to $1,804,055.02. These accounts 
cover the expenditures made by the Boston Elevated Railway Companv to 
March 30, 1 899, for account of the West End Street Railway Company for 
additions and improvements. 

The addition to the track included in these accounts has been 2i. T £§§ 
miles ; 338 additional cars have been added to the equipment and 76 sold 
or destroyed ; additions have been made to the land and buildings, includ- 
ing power houses and equipment to the amount of 1671,166.19. Sales of 
land and buildings and equipment of power houses have been made 
amounting to $98,935.86. 

The amount of expenditures made by the Boston Elevated Railway 
Company for the six months ending September 30, 1899, has not been pre- 
sented. 

The dividends on the Capital Stock of the Company, which by the 
terms of the lease amounted to $1,147,950, have been paid by the Boston 
Elevated Railway Company to the stockholders of this Company. 

The interest on the funded debt and the taxes of the Company have 
been paid by the Boston Elevated Railway Company. 

SAMUEL LITTLE, President, 

For the Directors. 






DIRECTORS AND OFFICERS. 



1899—1900. 



G. T. W. Braman. 
Parkman Dexter. 
Samuel Little. 
John Parkinson. 
Joseph B. Russell. 
Samuel Spencer. 



DIRECTORS. 



(ELECTED NOVEMBER 28, 1899.) 



Richard W. Saltonstall. 

William Skinner. 

C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 



Alfred Winsor. 



EXECUTIVE COMMITTEE. 



The President, (ex-officio.) 



Joseph B. Russell. 
Charles A. Williams. 



Samuel Little 
G. T. W. Bkaman 
Parkman Dexter 



OFFICERS. 



Moses Williams. 
Alfred Winsor. 



President. 
Vice President. 
Treasurer and Clerk. 






THIRTEENTH ANNUAL REPORT 



OF THE 



West End Street Railway Company, 



Boston, Nov. 27, 1900. 

The Directors would respectfully submit the following 

REPORT. 

On September 30, 1900, the general balance of the company was as 
follows : — 

ASSETS. 

Road Bed Track and Electrical Construction 
Equipment . ....... 

Land and Buildings ...... 

Cash and Accounts Receivable ..... 



9,316,653.15 

7,392,688.95 

1 0,553.090.32 

1,262,439.67 



LIABILITIES. 



Common Stock 

Preferred " 

Bonds 

Accounts Payable 

Surplus 



28,524,872.09 

9,085,000 00 

6,400,000.00 

12,866,000.00 

604.90 

173,267.19 



28,524,872.09 

Since the last annual report the bonds of the company to the amount 
of $2,109,000.00, dated August 1st, 1900, payable in 15 years from date 
have been issued ; these bonds were sold at a premium of 4.69% and bear 
interest at the rate of 4% per annum. 



The proceeds of the above bonds were used for the following pur- 
poses : 

$1,930,000.00, which with the premium received amounted to $2,020,- 
517.00, to repay to the Boston Elevated Railway Company for permanent 
additions made under the terms of the lease, for which accounts have been 
presented by that company as follows : 

Account for the year ending Sept. 30, 1898 . . . 1,662,983.39 

Account for six months " Mar. 30, 1899 . . . 609,663.03 

Account for six months " Sept. 30, 1899 . . . 628,399.12 

2,901,045.54 

From the above accounts, credits have been deducted for Real Estate, 
Cars, etc. sold, Track taken up and other sundry items, as follows : 
From account of Sept. 30, 1898 . . 393*364.33 

From account of Mar. 30, 1899 . . 75,227.07 

From account of Sept. 30, 1899 . . 370,774.26 

839*365-66 

Balance of the 3 accts. 2,061,679.88 

The proceeds of $179,000,00 of the bonds issued, which with the pre- 
lum received, amounted to $187,395.10, were used to redeem Highland 
Street Railway Company bonds, due January 1, 1898, to the amount of 
$100,000.00 and $88,000.00 mortgage bonds of the Cambridge Railroad, 
due in 1903. 

An account for six months inclusive March 30, 1900, has been pre- 
sented by the Boston Elevated Railway Company amounting to $693,806.- 
42, from which credits have been deducted of $206,735.22, leaving the net 
of the account $487,071.20; this account has not been adjusted. 

No account has been received from the Elevated Road for the six 
months ending Sept. 30, 1900. 

Since the last annual report, the account which was included in the 
bond issue, shows an addition to the track of the company of 10.540 miles, 
and to the car equipment an addition of 80 open cars. 



The dividends on the capital stock of the company amounting to 
$1,147,950,00, the interest on the funded debt of the company and the 
taxes have been paid by the Boston Elevated Railway Company. 

The Boston Elevated Railway Company has an open account against 
this company amounting, as they claim, September 30, 1899, to $656,683.- 
04. This account is for charges for settlement of claims for damage to 
persons and property against the West End Company previous to the lease 
and for expenses connected with the same, and for other accounts. This 
account not being payable under the terms of the lease until the termina- 
tion of the lease, is not adjusted and is not included as a liability of this 
company. 

SAMUEL LITTLE, President, 

For the Board of Directors. 



FOURTEENTH, FIFTEENTH, SIXTEENTH & 
SEVENTEENTH ANNUAL REPORTS 



OF THE 



West End Street Railway Co. 



1901, 1902, 1903, 1904. 



FOURTEENTH, FIFTEENTH, SIXTEENTH & 
SEVENTEENTH ANNUAL REPORTS 



OF THE 



West End Street Railway Co. 



Each Year Ending September 30. 



Hooper, Lewis & Co. 
BOSTON. 



DIRECTORS AND OFFICERS. 



Edwin F. Atkins. 
Charles M. Baker. 
G. T. W. Braman. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



1900—1901 



DIRECTORS. 

(ELECTED NOVEMBER 27, 1900.) 



Samuel Spencer. 

William Skinner. 

C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 



Alfred Winsor. 



C. Minot Weld. 
Charles A. Williams. 



EXECUTIVE COMMITTEE. 
The President (ex-officio). 



Moses Williams. 
Alfred Winsor. 



Joseph B. Russell 
G. T. W. Braman 
Parkman Dexter 



OFFICERS. 



President. 
Vice-President. 
Treasurer and Clerk. 



West End Street Railway Company, 

FOURTEENTH ANNUAL REPORT. 

For the year ending Sept. 30, 1901. 



Boston, Nov. 26, 1901. 

The Directors respectfully submit the following report : — 
On September 30, 1901, the General Balance of the Company was as 
follows : — 

ASSETS. 

Road Bed, Track and Electrical Construction . . . $9,577,815.59 

Equipment 7,667,497.10 

Land and Buildings 10,469,041.42 

Cash and Accounts Receivable ...... 1,230,396.64 

#28,944,750.75 

LIABILITIES. 

Common Stock #9,085,000.00 

Preferred Stock • . . . . 6,400,000.00 

Bonds . 12,866,000.00 

Accounts Payable ........ 419,935.36 

Sur P lus - 173,815-39 

$28,944,750.75 

Since the last annual report an account for additions and improvements 
made to the property of this company by the Boston Elevated Railway Com- 
pany, during the six months ending March 30, 1900, under the terms of the 
lease to that Company and amounting to $451,921.96, has been presented and 
approved by this board. 



An account for work done by the Boston Elevated Railway Company dur- 
ing the six months ending September 30, 1900, has been approved by this 
board since the close of the fiscal year, and therefore the figures are not in- 
cluded in the foregoing statement. 

A similar account for the six months ending March 30, 1901, also has 
been presented, but has not yet been adjusted. 

The dividends on the capital stock of the Company amounting to 
$1,147,950.00, the interest on the funded debt of the Company, and the taxes 
have been paid by the Boston Elevated Railway Company. 



JOSEPH B. RUSSELL, President, 

For the Directors. 



DIRECTORS AND OFFICERS. 



1901—1902. 



Edwin F. Atkins. 
Charles M. Baker. 
G. T. W. Braman. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 
(elected novemiser 26, 1901.) 



Samuel Spencer. 

William Skinner. 

C. Mixot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses William-. 



Alfred Winsor. 



EXECUTIVE COMMITTEE. 



(The President, ex-officio.) 



C. Minot Weld. 
Charles A. Williams. 



Moses Wili i \ms. 
Alfred Winsor. 



Joseph B. Russell 
(1. T. W. Braman 
Parkman Dexter 



OFFICERS. 



President. 

I 'ice-President. 

Treasurer ami Clerk. 



West End Street Railway Company 



FIFTEENTH ANNUAL REPORT. 



For the year ending September 30, 1902. 



Boston, Nov. 25, 1902. 

The Directors respectfully submit the following report : — 
On September 30, 1902, the Condensed Trial Balance of the Company 
was as follows, vis. : — 



ASSETS. 

Road Bed, Track and Electrical Construction 
Equipment . . 

Land and Buildings ..... 
Subway Equipment ..... 
Cash and Accounts Receivable 



$10,581,396.73 

8,080,812.51 

io,734. 952- 6 9 

296,942.41 

1,231,778.40 

$30,925,882.74 



LIABILITIES. 



Common Stock . 

Preferred Stock . 

Bonds 

Accounts Payable 

Surplus 



$9,085,000.00 

6,400,000.00 

14,666,000.00 

559,669.69 

215,213.05 

530,925,882.74 



Since the last Annual Report, two accounts for additions and improve- 
ments made to the property of this Company by the Boston Elevated Railway 



Company, covering the year ending March 31, 1901, under the terms of the 
lease to that Company, and amounting to $1,979,750.23, have been presented 
and approved by this Board. 

Two accounts for similar work done by the Boston Elevated Railway Com- 
pany, covering the year ending March 31, 1902, have also been presented, but 
have not yet been adjusted. 

During the past year the bonded indebtedness of the Company has been 
increased by the issue of Four per cent, bonds, due : 



August 1, 1915, to the amount of . . . . 

And during the same time the bonded indebtedness 
has been decreased by the payment of Highland 
Street Railway bonds, due May 1, 1902 . 
And Cambridge Railway Company bonds 



$2,130,000 



500,000 
30,000 



330,000 



Making net increase ...... 

And making the total bonded indebtedness of the Company 



$1,800,000 
514,666,000 



The dividends on the Capital Stock of the Company, amounting to 
$1,147,950 and the interest on the funded debt of the Company, as well as the 
taxes, have been paid by the Boston Elevated Railway Company. 

JOSEPH B. RUSSELL, President. 

For the Directors. 



DIRECTORS AND OFFICERS. 



1902—190?, 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 



(ELECTED NOVEMBER 25, 1902.) 



Samuel Spencer. 

C. Mi not Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 



Alfred Winsor. 



EXECUTIVE COMMITTEE. 



(The President, ex-officio.) 



C. Minot Weld. 
Charles A. Williams. 



Moses Williams. 
Alfred Winsor. 



Joseph B. Russell 
John Parkinson 
Parkman Df.xtkr 



OFFICERS. 



President. 
]'ice- President. 
Treasurer and Clerk. 



End Street Railway Company. 

SIXTEENTH ANNUAL REPORT. 

For the year ending September 30, 1903- 



Boston, Nov. 24, 1903. 

The Directors respectfully submit the following report : — 
On September 30, 1903, the Condensed Trial Balance of the Company was 
as follows, viz. : — 



ASSETS. 

Road Bed, Track and Electrical Construction 
Equipment ....... 

Land and Buildings and Power Stations 
Subway Equipment ..... 

Cash and Accounts Receivable 



LIABILITIES. 



Common Stock 
Preferred Stock 
Bonds . 
Surplus 



$10,871,118.80 

8,256,387.12 
1 1,169,062.89 

275.739-49 
1,240,551.68 

$31,812,859.98 



$9>539> 2 5°-°° 

6,400,000.00 

15,219,000.00 

654,609.98 

;3i,8i2,85 9 . 9 8 



Since the last Annual Report, two accounts for additions and improve- 
ments made to the property of this Company by the Boston Elevated RaUvvay 
Company, covering the year ending March 31, 1902, under the terms of the 
lease to that Company, and amounting to $878,203.96, have been presented 
and approved by this Board. 



Two accounts for similar work done by the Boston Elevated Railway Com- 
pany, covering the year ending March 31, 1903, have also been presented, but 
have not yet been adjusted. 

During the past year the bonded indebtedness of the Company has been 
increased by the issue of 4% bonds due : — 



August 1, 1915 

August 1, 1932 .. 

Making the total during the year 
During the same time the bonded indebtedness 
of the Company has been decreased by the pay- 
ment of the following bonds, viz. : — 
West End Street Railway Company 5s, 1902 
Cambridge Railway Company 5s, 1903 

Making a net increase for the year of 

And making the total bonded indebtedness of the Company 



$356,000 
3,559,000 

?3>9 I 5>°°° 



;, 000,000 
362,000 



3,362,000 



$553,000 
$15,219,000 



During the past year the Capital stock of the company was also increased 
by the issue and sale of 9085 shares of the Common stock of the par value 
of .......... $454,250.00 

This stock was sold at a price nearly 
averaging $90 per share, netting to 
the company a premium of ....... $360,720.87 

Making the net receipts therefrom ..... $814,970.87 

which amount was applied to the payment of the two accounts received from 
the Boston Elevated Railway Company, approved by your board during the 
past year. 

The dividends on the capital stock of the company, amounting to 
$1,163,848.75, the interest on the funded debt, and the taxes have been paid 
by the Boston Elevated Railway Company. 



JOSEPH B. RUSSELL, President. 

For the Directors. 



DIRECTORS AND OFFICERS, 



190^—1904. 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 



(ELECTED NOVEMBER 24, I903.) 



Samuel Spencer. 

C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 



Alfred Winsor. 



EXECUTIVE COMMITTEE. 



(The President, ex-officio.) 



C. Minot Weld. 
Charles A. Williams. 



Moses Williams. 
Alfred Winsor. 



Joseph B. Russell 
John Parkinson 
Parkman Dexter 



OFFICERS. 



President. 
Viee-Presiden t. 
Treasurer and Clerk. 



West End Street Railway Company. 

SEVENTEENTH ANNUAL REPORT. 



For the year ending September 30, 1904. 



Boston, November 22, 1904. 

The Directors respectfully submit the following report : — 
On September 30, 1904, the Condensed Trial Balance of the Company 
was as follows, namely : 



ASSETS. 




Road Bed, Tracks and Electrical Construction . 


$1 1,384,616.62 


Equipment ... . . . . • 


8,562,434.93 


Land, Buildings and Power Stations . 


11,429,471.57 


Subway Equipment ....... 


276,764-30 


Cash and Accounts Receivable . 


1,269,942.94 




^32,923,230.36 


LIABILITIES. 




Common Stock ....... 


$ 9,689,250.00 


Preferred Stock ....... 


6,400,000.00 


Bonds ......... 


15,981,000.00 


Accounts Payable ....... 


4,229.17 


Surplus . . . . ... 


848,751.19 




$32,923,230.36 



Since the last Annual Report six accounts for additions and improvements 
made to the property of this Company have been presented and after careful 
investigation, resulting in some modification, had been made, were approved by 
the Directors of this Company. The above covered the usual semi-annual 



accounts for the two years ending March 31, 1904, and special accounts 
covering items which had been in controversy between the companies for 
some time. The total amount of all these accounts was $1,060,973.12. 

Besides this addition to our property accounts, the "Land Account" has 
been increased by the further amount of $20,006 to correct an error made 
at time of lease, and the " Accounts Receivable " reduced a like amount. 

No account has yet been received for work done since March 31, 1904. 

During the year the capital of the Company has been increased by the 
issue of 3000 shares of its Common Stock of the par value of . $150,000.00 
By order of the Board of R. R. Commissioners this stock was 

sold at public auction and there was realized beyond its 

par value ......... 119,970.83 

Making the net receipts therefrom ... . . . $269,970.83 

Which sum was applied to the payment of the accounts of the Boston Elevated 
Railway Company, approved by your Board during the year. 

The bonded indebtedness of the Company has been increased during the 
same time by the issue of 4% bonds due : 



August 1,1915. 
August 1, 1932 . 

Total for the year 
During the same time the bonded indebtedness 
has been decreased by the payment of the 
following bonds, viz ; 
Metropolitan R. R. 5's, due Dec. 15, 1903 . 
Chas. River R. R. 5's, due April 1, 1904 
Middlesex R. R. 5's, due July 1, 1904 
Net increase 



,000.00 
143,000.00 
197,000.00 



$ 148,000.00 
1,450,000.00 

$1,598 000.00 



838,000.00 
$760,000.00 



There are still outstanding $12,000 of the above issues of bonds and also 
$2,000 of the issue of West End Street Railway Company 4's due November i t 
1902. To meet these whenever presented for payment there is deposited 
with the American Loan & Trust Company the sum of $14,000. 



Of the total bond issues for the year, $848,000 were sold to provide funds 
for the redemption of bonds falling due in that time, and the remainder, 
$750,000, to provide funds for the balance due to the Boston Elevated Railway 
Company on its accounts for additions and improvements to our property. 

The dividends on the capital stock of the Company, amounting to 
$1,184,997.50, the interest on the funded debt, and the taxes have been paid 
by the Boston Elevated Railway Company. 

JOSEPH B. RUSSELL, President. 

For the Directors. 



EIGHTEENTH, NINETEENTH, TWENTIETH, 

TWENTY-FIRST AND TWENTY-SECOND 

ANNUAL REPORTS 



OF THE 



West End Street Railway Company. 



1905, 1906, 1907, 1908, 1909. 



EIGHTEENTH, NINETEENTH, TWENTIETH, 

TWENTY-FIRST AND TWENTY-SECOND 

ANNUAL REPORTS 



OF THE 



West End Street Railway Co. 



Each Year Ending September 30. 



Hooper, Lewis & Co. 
BOSTON. 



DIRECTORS AND OFFICERS, 



1904-190? 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 22, 1904 



Samuel Spencer. 

C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 



Alfred Wtnsor. 



EXECUTIVE COMMITTEE. 

The President, (ex-officio). 



C. Minot Weld. 
Charles A. Williams. 



Moses Williams. 
Alfred Winsor. 



Joseph B. Russell 
John Parkinson 
Parkman Dexter 



OFFICERS. 



President. 
Vive- President. 
Treasurer and Clerk. 



West End Street Railway Company. 

EIGHTEENTH ANNUAL REPORT. 

For the year ending Sept. 30, 1905. 



Boston, Nov. 28, 1905. 

The Directors respectfully submit the following report : — . 
On September 30th, 1905, the Condensed Trial Balance of the Company 
was as follows, namely : — 



ASSETS. 

Road Bed, Tracks & Electrical Construction 
Equipment ...... 

Land, Buildings & Power Stations 

Subway Equipment ..... 

Cash & Accounts Receivable 



LIABILITIES 



Common Stock 

Preferred Stock 

Bonds 

Accounts Payable 

Surplus 



$11,384,616.62 

8,562,434.93 

11,429,471.57 

276,764.30 

1,277,769.21 

$3 2 »93 I >oS6.63 



$9,689,250.00 

6,400,000.00 

!5>977> 000.00 

4,229.17 

860,577.46 

$3 2 >93 I »o56.63 



Since the last annual report two accounts for additions and improvements 
made to the property have been submitted, covering the twelve months ending 
April 1, 1905, but as yet these accounts have not been audited and approved. 



No account has yet been received for work done since April i, 1905. The cap- 
ital stock of the company has not been increased during the year. 

On May 5th, 1905, the company sold $200,000. par value of 4% bonds of 
the series due August 1, 1932, at a premium of 5.933%- The proceeds of these 
bonds were used to pay the $200,000 of South Boston Horse Railway Company 
bonds which became due May 1, 1905. 

The total bonded indebtedness of the company includes the following 
matured bonds, funds for the payment of which are deposited with the American 
Loan & Trust Co. 

West End St. Ry. Co. due Nov. 1, 1902 ..... $2,000 

Charles River St. Ry. Co. due April 1, 1904 .... 6,000 

South Boston Ry. Co. due May 1, 1905 ..... 2,000 

The dividends on the capital stock of the company amounting to 
$1,190,247.50 and interest on the funded debt and taxes have been paid by the 
Boston Elevated Railway Company. 

For the Directors, 

JOSEPH B. RUSSELL, 

President. 



DIRECTORS AND OFFICERS. 



1 90 J- 1906 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 28, 1905) 



Samuel Spencer. 

C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 



Alfred Winsor. 



EXECUTIVE COMMITTEE. 
The President, (ex-officio). 



C. Minot Weld. 
Charles A. Williams. 



Moses Williams. 
Alfred Winsor. 



Joseph B. Russell 
John Parkinson 
Parkman Dexter 



OFFICERS. 



President. 
Vice- President. 
Treasurer and Clerk. 



West End Street Railway Company. 

NINETEENTH ANNUAL REPORT. 

For the year ending Sept. 20, 1906. 



Boston, Oct. 31, 1906. 
The Directors respectfully submit the following report : — 
On September 30, 1906, the Condensed Trial Balance of the Company was 
as follows, namely : — 



ASSETS. 

Road-bed, Tracks and Electrical Construction 
Equipment ...... 

Land, Buildings and Power Stations 

Subway Equipment .... 

Cash and Accounts Receivable 



LIABILITIES. 



Common Stock 

Preferred Stock 

Bonds 

Accounts Payable 

Surplus 



$11,384,616.62 

8,562,434.93 

11,429,471.57 

276,764.30 

1,276,277.18 

#3 2 >9 2 9>564-6o 



$9,689,250.00 
6,400,000.00 

i5.975» 000 -°o 

4,229.17 

861,085.43 

$32,929,564.60 



Since the last Annual Report two accounts for additions and improvements 
made to the property have been submitted to this Company by the Boston 
Elevated Railway Company, covering the twelve months ending April 1, 1906, 



but have not yet been audited and approved. No account has yet been received 
for work done since April i, 1906. No new issues of bonds or stock of the 
Company have been made during the past year. 

On January 1st next, #500, 000 bonds of the Boston Consolidated Railway 
Company will fall due. 

The total bonded indebtedness of the Company includes the following 
matured bonds, funds for the payment of which are deposited with the American 
Loan & Trust Company : 

West End Street Railway bonds, due Nov. 1, 1902 . . $.2 ,000.00 

Charles River St. Ry. bonds, due April 1, 1904 . . . 6,000.00 

The dividends on the Capital Stock of the Company, amounting to 
$1,190,247.50, and the interest on the funded debt, and taxes, have been paid 
by the Boston Elevated Railway Company. 

For the Directors, 

JOSEPH B. RUSSELL 

President. 



DIRECTORS AND OFFICERS. 



1906-1907 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B! Russell. 



DIRECTORS. 



(ELECTED NOVEMBER 27, 1906 



Samuel Spencer. 

C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 



Alfred WTnsor. 



EXECUTIVE COMMITTEE. 

The President, (ex-officio). 



C. Minot Weld. 
Charles A. Williams. 



MoseS Williams. 
Alfred Winsor. 



Joseph B. Russell 
John Parkinson 
Parkman Dexter 



OFFICERS. 



President. 
Vice- President. 
Treasurer and Clerk. 



West End Street Railway Company. 

TWENTIETH ANNUAL REPORT. 

For the year ending Sept. 30, 1907. 



Boston, October 30, 1907. 
The Directors respectfully submit the following report :— - 
On September 30, 1907, the Condensed Trial Balance of the Company 
was as follows, namely : — 



ASSETS. 

Road-bed, Tracks and Electrical Construction 
Equipment . . . . 

Land, Buildings and Power Stations 
Subway Equipment .... 

Cash and Accounts Receivable 



LIABILITIES 



Common Stock 

Preferred Stock 

Bonds 

Accounts Payable 

Surplus 



During the year, $5 00,000 par value of the Four per cent bonds of the 
Company, due August 1, 1932, were sold, and the proceeds used to pay a like 
amount of the bonds of the Boston Consolidated Railway Company, due January 
1, 1907. The premium received from the sale of these bonds was $2,290. 



#11,698,914.88 

8,882,340.03 

11,556,881.52 

283,005.31 

1,221,183.06 

#33> 6 42,324-8o 

$10,109,250.00 

6,400,000.00 

15,967,000.00 

15,981.42 

1, 150*093.38 

,642,324.80 



The bonded debt of the Company has been reduced $8,000 by the pay- 
ment of $2,000 par value bonds of the West End Street Railway Company 
due November 1, 1902, and $6,000 par value of the bonds of the Charles 
River Street Railway Company due April 1, 1904. 

The Common Stock of the Company was increased during the past year by 
the issue of 8,400 shares, 7,270 of which were taken by the stockholders of the 
Company, and 1,130 sold at auction. The premium above par received from the 
sale of this stock was $286,432.90. The proceeds from the sale of this stock 
was used to pay to the Boston Elevated Railway Company the audited accounts 
for additions and improvements made to the property of this Company during 
the two years ending March 30, 1906. Two other accounts, covering the year 
to March 30, 1907, have been received from the Boston Elevated Railway 
Company, but have not yet been audited and approved. 

The dividends on the Capital Stock of the Company for the past year, 
amounting to $[,204,947.50, and interest on the funded debt and taxes, have 
been paid by the Boston Elevated Railway Company. 

For the Directors, 

JOSEPH B RUSSELL. 

President. 



DIRECTORS AND OFFICERS. 



1907-1908 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 26, 1907) 



C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 

Alfred Winsor. 



EXECUTIVE COMMITTEE. 
The President, (ex-officio). 



C. Minot Weld. 
Charles A. Williams. 



Moses Williams. 
Alfred Winsor. 



Joseph B. Russell 
John Parkinson 
Parkman Dexter 



OFFICERS. 



President. 
Vice- President. 
Treasurer and Clerk. 



West End Street Railway Company. 

TWENTY-FIRST ANNUAL REPORT. 
For the year ending Sept. 10, 1908. 



Boston, October 31, 1908. 
The Directors respectfully submit the following report : — 
On Sebtember 30, 1908, the Condensed Trial Balance of the Company 
was as follows, namely : — 



ASSETS. 

Road-bed, Tracks and Electrical Construction 
Equipment ....... 

Land, Buildings and Power Stations and Machinery 
Subway Equipment ..... 

Cash and Accounts Receivable 



LIABILITIES. 



Capital Stock — Common 

Capital Stock — Preferred 

Bonds 

Accounts Payable 

Surplus 



#12,136,527.71 
9,419,814.44 

12, 725,579- 5 
274,971.29 

1,229,540.17 
$35,786,432.66 



$1 1,120,150.00 

6,400,000.00 

16,667,000.00 

12,292.34 

1,586,990.32 

$35,786,432.66 



The accounts received from the Boston Elevated Railway Company, cover- 
ing additions and improvements made to the property of this Company during 
the eighteen months ending September 30, 1907, have been audited and 



approved, and under them a net sum found due to the Boston Elevated Railway 
Company of #2,135,750.75. 

To liquidate this amount the Company has increased its bonded debt during 
the year to the extent of #700,000, by the issue of 4 y 2 % , 15 -year bonds, due 
January 1, 1923 ; and by the issue of 20,218 shares of the Common Stock of the 
Company, 18,709 of which were taken by the stockholders of the Company, and 
1509 sold at auction. The premium above par 'received from the sale of this 
stock was #420,393.13. The proceeds of the sale of this stock, amounting to 
,$1,431,293.13, together with $700,000, the par value of bonds above men- 
tioned, were paid to the Boston Elevated Railway Company to cover the 
accounts as above stated. 

The premium of $12,390 received on sale of bonds, has not yet been paid 
to the Boston Elevated Railway Company, but is being held awaiting the 
authorization of the Board of Railroad Commissioners to so do. 

There has been received an account from the Boston Elevated Railway 
Company covering the cost of improvements and additions to the property for 
the period of six months ending March 31, 1908, but this account has not yet 
been audited or approved. 

The dividend on the Capital Stock of the Company for the past year, 
amounting to $1,290,4 10.50 and interest on the funded debt and taxes, have 
been paid by the Boston Elevated Railway Company. 

For the Directors, 

J. B. RUSSELL, 

President. 



DIRECTORS AND OFFICERS. 



1908-1909 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 24, 1908) 



C. Minot Weld. 

Stephen M. Weld. 

Charles A. Williams. 

Moses Williams. 

Alfred Winsor. 



EXECUTIVE COMMITTEE. 

The President, (ex-officio). 



C. Minot Weld. 
Charles A. Williams. 



Moses Williams. 
Alfred Winsor. 



Joseph B. Russell 
John Parkinson 
Parkman Dexter 



OFFICERS. 



President. 
Vice- Pre side /it. 
Treasurer and Clerk. 



West End Street Railway Company. 

TWENTY-SECOND ANNUAL REPORT. 

For the year ending Sept. 30, 1909. 



Boston, Oct. 30, 1909. 
The Directors respectfully submit the following report : — 
On September 30, 1909, the Condensed Trial Balance of the Company was 
as follows, namely : — 



ASSETS. 

Road Bed, Tracks and Electrical Construction 
Equipment ....... 

Land, Buildings and Power Stations and Machinery 
Subway Equipment ...... 

Cash and Accounts Receivable . 



LIABILITIES 



Capital Stock — Common 

Capital Stock — Preferred 

Bonds 

Accounts Payable 

Surplus 



$12,136,527.71 
9,419,814.44 

12,725,579-05 
274,971.29 

1,229,612.38 
$35,786,504.87 



$1 1,120,150.00 

6, 400, 000. 00 

16,667,000.00 

12,292.34 

r,587',o6 2 .53 

$35*786,504.87 



There have been received from the Boston Elevated Railway Company 
three semi-annual accounts covering the cost of improvements and additions to 



the property for the period of eighteen months ending March 30, 1909, but 
these accounts have not yet been audited or approved. 

No bonds or stock were issued during the past year. 

The dividends on the Capital Stock of the Company for the past year, 
amounting to $1,290,410.50, and interest on the funded debt, as also taxes, 
have been paid by the Boston Elevated Railway Company. 

For the Directors, 

JOSEPH B. RUSSELL, 

President. 



TWENTY-THIRD, TWENTY-FOURTH, TWENTY- 
FIFTH, TWENTY-SIXTH AND TWENTY-SEVENTH 

ANNUAL REPORTS 



OF THE 



West End Street Railway Co. 



1910, 1911, 1912, 1913, 1914 



TWENTY-THIRD, TWENTY-FOURTH, TWENTY- 
FIFTH, TWENTY-SIXTH AND TWENTY-SEVENTH 

ANNUAL REPORTS 



OF THE 



West End Street Railway Co. 



1910, 1 9 1 1 , 1912, 1913, 1914 



DIRECTORS AND OFFICERS. 



1909—1910 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 23, I909.) 



C. Minot Weld. 
Stephen M. Weld. 
Charles A. Williams. 
Moses Williams. 
Alfred Winsor. 



C. Minot Weld. 
Charles A. Williams. 



EXECUTIVE COMMITTEE. 
The President (ex-officio). 



Moses Williams. 
Alfred Winsor. 



OFFICERS. 

Joseph B. Russell President. 

John Parkinson Vice-President. 

Parkman Dexter Treasurer and Clerk. 



West End Street Railway Company. 

TWENTY-THIRD ANNUAL REPORT. 

For the year ending June 30, 1910. 



Boston, October 19, 1910. 

The Directors respectfully submit the following report: 

Owing to a change in the law, the financial year of the Company now 

ends on June 30 and therefore this report covers a period of only nine 

months. 

On June 30, 19 10, the Condensed Trial Balance of the Company was 

as follows: 

ASSETS. 

Road Bed, Tracks and Electrical Construction . . . $12,980,931.68 

Equipment 10,506,463.14 

Land, Buildings, Power Stations and Machinery . . . 13,539,248.68 

Subway Equipment 299,422.95 

Cash and Accounts Receivable 1,227,909.56 

$38,553,976-oi 
LIABILITIES. 

Capital Stock — Common $11,120,150.00 

Preferred . 6,400,000.00 

Bonds ■. . 16,667,000.00 

Accounts Payable 2,781,466.30 

Surplus i,S85.359-7i 

$38,553,976.oi 

The item of $2,781,466.30, Accounts Payable, is made up of the fol- 
lowing sums due to the Boston Elevated Railway Company, viz. : 
For Five Accounts Audited and Approved by the Directors, 






Covering the Cost of ?P$fmanent Additions, Alterations 
and Improvements for Two Years to September 30, 

iqoq,.__ v . . , .; . ;;__. L _. . ■. . ii'.ii'A-Y.- • _ $2,769,173.96 

Balance Due on Previous Accounts 8,063.17 

Amount Due for Accrued Dividend on Common Stock sold 
in August, 1904, and Payable to the Boston Elevated 
Railway Company only when authority to so do is given 
by the Board of Railroad Commissioners . . . . 4,229.17 



52,781,466.30 



Since the close of the financial year another account for permanent 
additions, alterations and improvements for the six months ending 
April 1, 1 9 10, and amounting to $165,396.82, has been approved by the 
Directors, which, added to the above sum, made the entire amount due 
to the Boston Elevated Railway Company, $2,946,863.12. 

Since the close of the financial year, June 30, 19 10, there have been 
sold $850,000 of 45 per cent bonds, dated July 1, 19 10, and due July 1, 
1930, for which there was received $850,255, which sum has been paid to 
the Boston Elevated Railway Company, together with $12,390 the 
premium received from the sale of bonds in 1908 and heretofore held 
awaiting authority from the Board of Railroad Commissioners to so do, 
reducing to $2,084,218.12 the amount due to it, which sum will be liqui- 
dated by the proceeds of the 27,800 shares, of a par value of $1,390,000 
of new Common Stock authorized by the Stockholders, and offered to 
them at $75 per share plus accrued dividend thereon. 

Dividends on the Capital Stock of the Company during the period 
under review, together with all interest and taxes, have been paid by the 
Boston Elevated Railway Company. 



For the Directors, 



JOSEPH B. RUSSELL, 

President. 



DIRECTORS AND OFFICERS. 



1910-1911 



Edwin F. Atkins. 
Charles M. Baker. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 22, I9IO.) 



C. Minot Weld. 
Stephen M. Weld. 
Charles A. Williams. 
Moses Williams. 
Alfred Winsor. 



C. Minot Weld. 
Charles A. Williams. 



EXECUTIVE COMMITTEE. 
The President (ex-officio). 



Moses Williams. 
Alfred Winsor. 



OFFICERS. 

Joseph B. Russell President. 

John Parkinson Vice-President. 

Parkman Dexter Treasurer and Clerk. 



West End Street Railway Company. 

TWENTY- FOURTH ANNUAL REPORT. 

For the year ending June 30, 1911. 



Boston, October 25, 191 1. 

The Directors respectfully submit the following report for the twelve 
months ending June 30, 191 1: 

On June 30, 19 n, the Condensed Trial Balance of the Company was 
as follows: 

ASSETS. 

Road Bed, Tracks and Electrical Construction . . $13,046,481.79 

Equipment 10,537,32775 

Land, Buildings, Power Stations and Machinery . . . 13,608,291.27 

Subway Equipment 299,362.46 

Cash and Accounts Receivable 1,236,418.52 

$38,727,881.79 
LIABILITIES. 

Capital Stock — Common $12,510,150.00 

Preferred . . . . . . . . . 6,400,000.00 

Bonds . . . . . . ' • 17,517,000.00 

Accounts Payable 4,229.17 

Surplus 2,296,502.62 

$38,727,881.79 

During the past year, and referred to in the last Annual Report, there 
were sold $850,000, par value, 4^ Per Cent Twenty- Year bonds, dated 
July 1, 19 10, for which there was received the sum of $850,255. 



There also was sold 27,800 shares of Common Capital Stock, authorized 
by the Board of Railroad Commissioners in orders dated September 15 
and 30, 19 10. Of this issue, 26,751 shares were taken by Stockholders at 
$75 per share, the price fixed by the Railroad Commissioners, and the 
balance of the issue, 1,049 shares, was sold at public auction December 
14, 1910, at from $89.75 to $90.50 per share, the whole issue realizing to 
the Company the par value, $1,390,000, and net premium of $710,385.37, 
a total of $2,100,385.37, all of which has been paid over to the Boston 
Elevated Railway Company in settlement of approved accounts covering 
the cost of permanent additions, alterations and improvements up to 
March 30, 1910. 

During the year further accounts have been received from the Boston 
Elevated Railway Company covering the time to June 30, 191 1, and 
aggregating $933,261.15. These accounts have not yet been approved by 
your Board. 

On September 6, 191 1, a special meeting of the Stockholders was held 
to act upon the matter of the acceptance of the Act of the Legislature, 
known as Chapter 740 of the Acts of 191 1, to authorize the consolidation 
of the properties of this Company and those of the Boston Elevated Rail- 
way Company, and the Act was accepted by a large majority. 

Dividends on the Capital Stock of the Company during the time under 

review, together with all interest and taxes, have been paid by the Boston 
Elevated Railway Company. 



For the Directors, 



JOSEPH B. RUSSELL, 

President. 



DIRECTORS AND OFFICERS. 



1911—1912 



Edwin F. Atkins. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 28, igil.) 



C. Minot Weld. 
Stephen M. Weld. 
Charles A. Williams. 
Moses Williams. 



Alfred Winsor. 



C. Minot Weld. 
Charles A. Williams. 



EXECUTIVE COMMITTEE. 
The President (ex-officio). 



Moses Williams. 
Alfred Winsor. 



OFFICERS. 

Joseph B. Russell President. 

John Parkinson Vice-President. 

Parkman Dexter N . . . Treasurer and Clerk. 



West End Street Railway Company. 

TWENTY- FIFTH ANNUAL REPORT. 

For the year ending June 30, 1912 



Boston, October 17, 1912. 

The Directors respectfully submit the following report for the twelve 

months ending June 30, 191 2: 

On that date the Condensed Trial Balance of the Company was as 

follows : 

ASSETS. 

Road Bed, Tracks and Electrical Construction . . . $13,301,563.14 

Equipment 10,921,872.45 

Land, Buildings, Power Stations and Machinery . . . 13,743,731.29 

Subway Equipment 299,273.08 

Cash and Accounts Receivable . . 1,245,135.17 

$39,5ii,575-i3 
LIABILITIES. 

Capital Stock — Common $12,510,150.00 

Preferred 6,400,000.00 

Bonds 18,271,000.00 

Accounts Payable 4,809.44 

Surplus 2,325,615.69 

$39,5ii,575-i3 

The above surplus has arisen from the following receipts : 

Premium realized on Capital Stock since October 1, 1897 . $1,901,976.45 
Premium realized on Bonds since October 1, 1897 . . . 346,947.99 

Profit and Loss Balance .' 76,691.25 

$2,325,615.69 



Accounts for permanent additions, alterations and improvements, 
amounting to $774,976.69, made by the Boston Elevated Railway Com- 
pany during the fifteen months ending June 30, 191 1, have been audited 
and paid during the past year. This amount was paid through the sale 
of $754,000 par value of 4! per cent bonds of this Company, due in 1930, 
for which there was received the sum of $782,727.40. 

Accounts have also been received from the Boston Elevated Railway 
Company for permanent additions, alterations and improvements cover- 
ing the twelve months to June 30, 1912, amounting to $1,104,648.29, but 
have not yet been audited or approved. 

Dividends on the Capital Stock of the Company during the time under 
review, together with all interest and taxes, have been paid by the Boston 
Elevated Railway Company. 



For the Directors, 



JOSEPH B. RUSSELL, 

President. 



DIRECTORS AND OFFICERS. 



1912—1913 



Edwin F. Atkins. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



DIRECTORS. 

(ELECTED NOVEMBER 26, 1912.) 



C. Minot Weld. 
Stephen M. Weld. 
Charles A. Williams. 
Moses Williams. 



Alfred Winsor. 



C. Minot Weld. 
Charles A. Williams. 



EXECUTIVE COMMITTEE. 
The President (ex-officio). 



Moses Williams. 
Alfred Winsor. 



OFFICERS. 

Joseph B. Russell President. 

John Parkinson Vice-President. 

Parkman Dexter Treasurer atid Clerk. 



West End Street Railway Company. 

TWENTY- SIXTH ANNUAL REPORT. 

For the year ending June 30, 1913. 



Boston, October 29, 1913. 

The Directors respectfully submit the following report for the twelve 

months ending June 30, 19 13 : 

On that date the Condensed Trial Balance of the Company was as 

follows : 

ASSETS. 

Road Bed, Tracks and Electrical Construction . . . . $13,712,619.01 

Equipment 11,318,783.20 

Land, Buildings, Power Stations and Machinery . . . 13,917,855.70 

Subway Equipment 299,273.08 

Cash and Accounts Receivable 1,242,313.66 

$40,490,844.65 
LIABILITIES. 

Capital Stock — Common $12,730,150.00 

Preferred 6,400,000.00 

Bonds 18,871,000.00 

Accounts Payable 36,138.69 

Surplus 2,453,555.96 

• $40,490,844.65 

The above surplus has arisen from the following receipts : 
Premium realized on Capital Stock since October 1, 1897 . $2,004,010.83 
Premium realized on Bonds since October 1, 1897 . . . 371,835.99 

Profit and Loss Balance 77,709.14 

$2,453,555-96 



Accounts for permanent additions, alterations and improvements, 
amounting to $982,091.03, made by the Boston Elevated Railway Com- 
pany during the twelve months ending June 30, 1912, have been audited 
and paid during the year. This amount was paid in part through the 
sale of $600,000 par value of 5 per cent bonds of this Company, due in 
1932, for which was received the sum of $624,888, and the sale at auction 
of 4,400 shares of Common Stock for which was received ($220,000 par 
value and $102,034.38 premium) $322,034.38. 

Accounts have also been received from the Boston Elevated Railway 
Company for permanent additions and improvements covering the twelve 
months to June 30, 19 13, amounting to $1,160,813.12, but these have not 
yet been audited and approved. 

Dividends on the Capital Stock of the Company during the time under 
review, together with all interest and taxes, have been paid by the Boston 
Elevated Railway Company. 

In accordance with Section 9, Chapter 740, Acts of the Massachusetts 
Legislature for the year 191 1, this Company has sold to the Boston 
Elevated Railway Company such parts of its real estate as was agreed 
between the Companies were not necessary for railroad purposes. After 
much negotiation the price agreed upon for such real estate was $1,517,150, 
a price satisfactory to your Board. 

As the Act limited to $1,500,000 the amount which was to go into the 

Trust Fund thereunder created, the income of which is to be used for the 

purchase and retirement of the new Second Preferred Stock of the Boston 

Elevated Railway after the consolidation goes into effect, this sum has 

been so applied, and the balance of $17,150 will be applied to the cost of 

permanent additions, alterations and improvements made by the Boston 

Elevated Railway Company in accordance with the terms of the lease to 

that Company. 

For the Directors, 

JOSEPH B. RUSSELL, 

President. 



DIRECTORS AND OFFICERS. 



1913—1914 



Edwin F. Atkins. 
Parkman Dexter. 
John Parkinson. 
Joseph B. Russell. 



■ DIRECTORS. 

(ELECTED NOVEMBER 25, I9I3.) 



C. Minot Weld. 
Stephen M. Weld. 
Charles A. Williams. 
Moses Williams. 



Alfred Winsor. 



C. Minot Weld. 
Charles A. Williams. 



EXECUTIVE COMMITTEE. 
The President (ex-officio). 



Moses Williams. 
Alfred Winsor. 



OFFICERS. 

Joseph B. Russell President. 

John Parkinson Vice-President. 

Parkman Dexter Treasurer and Clerk. 

John Parkinson resigned as Director and Vice-President January 27, 1914, and 
Mr. Moses Williams was elected Vice-President, to fill the vacancy in that office, and 
Mr. John Parkinson, Jr., was elected a Director to fill the vacancy in the Board. 



West End Street Railway Company. 

TWENTY- SEVENTH ANNUAL REPORT. 

For the year ending June 30, 1914. 



Boston, October 28, 1914. 

The Directors respectfully submit the following report for the twelve 

months ending June 30, 19 14: 

On that date the Condensed Trial Balance of the Company was as 

follows : 

ASSETS. 

Road Bed, Track and Electrical Construction .... $13,908,957.69 

Equipment 12,092,014.33 

Land, Buildings, Power Stations and Machinery .. . . 12,434,089.37 

Subway Equipment 299,398.78 

Cash and Accounts Receivable 1,344,031.21 

Special Trust Fund (Section 9, Chapter 740, Acts 191 1) . 1,500,000.00 

$41,578,491-38 
LIABILITIES. 

Capital Stock — Common $13,010,150.00 

Preferred 6,400,000.00 

Bonds 19,410,000.00 

Bonds due March 1, 19 1 4, not presented ..... 14,000.00 

Accounts Payable 87,645.49 

Surplus 2,656,695.89 

$41,578,491.38 

The above surplus has arisen from the following receipts : 

Premium realized on Capital Stock since October 1, 1897 . $2,094,545.21 
Premium realized on Bonds since October 1, 1897 . . . 483,577-38 

Profit and Loss Balance 78,573.30 

$2,656,695.89 



Accounts for permanent additions, alterations and improvements 
amounting to $1,003,079.18, made by the Boston Elevated Railway Com- 
pany during. the year ending June 30, 1913, have been audited and allowed 
during the year. 

There was also a balance due the Boston Elevated Railway Company 
on previous accounts amounting to $14,759.52, which, with the above, 
made the sum due to the Boston Elevated Railway Company $1,017,838.70. 

This amount has all been paid, with the exception of. $83, 416. 32, in the 
following manner: 

Premium received on 5 Per Cent Bonds Sold in Year 

Ending June 30, 1913 $24,888.00 

Proceeds Sale 5,600 Shares Common Stock in April, 1914 

($280,000 par value, premium $90,534.38) .... 37°, 534-38 

Par Value of 5 Per Cent Bonds Sold Maturing March 1, 

1944 539,000.00 

$934,422.38 

There was also sold during the year $2,000,000 par value 5 Per Cent 
Bonds,. due March 1, 1944, to provide funds for the payment of $2,000,000 
bonds of the Company which fell due upon March 1st last. The premiums 
received upon the sale of this $2,000,000 in bonds, and also the $539,000 
similar bonds sold, was $111,741.39, which, however, cannot be used for 
payment of sums due the Boston Elevated Railway Company until 
authority for so doing has been granted by the Public Service Commission. 

Accounts have also been received from the Boston Elevated Railway 
Company covering permanent additions and improvements made during 
the twelve months ending June 30, 19 14, and amounting to $843,674.87, 
but these have not as yet been audited and approved. 

Dividends on Capital Stock, interest on funded debt and taxes have 
been paid by the Boston Elevated Railway Company. 



For the Directors, 



JOSEPH B. RUSSELL, 

President. 



Twenty-Eighth Annual Report 



of th 

West End Street Railway Company 

The Directors respectfully submit the following report for the twelve months ending 
June 30, 1915: 

On that date the Condensed Trial Balance of the Company was as follows: 

ASSETS. 

Road-bed, Track and Electrical Construction $13,996,680.73 

Equipment 12,837,930.03 

Land, Buildings, Power Stations and Machinery 12,256,611.70 

Subway Equipment 299,398.78 

Cash and Accounts Receivable 1,215,925.90 

Special Trust Fund (Section 9, Chap. 740, Acts 1911) . . . . ' . 1,500,000.00 

$42,106,547.14 
LIABILITIES. 

Capital Stock — Common $13,445,150.00 

Preferred 6,400,000.00 

Bonds 19,471,000.00 

Accounts Payable 9,943.69 

Surplus: Premium realized on Capital Stock since 

October 1, 1897 . $2,216,437.52 

Premium realized on bonds since October 1, 1897 484,668.06 

Profit & Loss — balance 79,347.87 2,780,453.45 

$42,106,547.14 
Accounts for permanent additions, alterations and improvements made 
by the Boston Elevated Railway Company during the year ending June 
30, 1914, have been audited and allowed, to the aggregate amount of . $656,161.07 

There was also a balance due the Boston Elevated Railway Company 
on previous accounts amounting to 83,416.32 

Which with the above made the sum due the Boston Elevated Rail- 
way Company $739,577.39 

This amount has been largely liquidated in the following manner: 
From premium on 3000 shares Common Stock sold in 1904, 

and heretofore held in suspense $4,229.17 

Proceeds 8700 shares Common stock sold April 2, 1915, 

Par value $435,000.00 

Premium received 117,663.14 552,663.14 $556,892.31 

Premium on $2,539,000 5% bonds, due March 

1, 1944, and sold in the year 1914 . . . 111,741.39 
Par value of similar bonds sold on May 4, 1915 61,000.00 172,741.39 

$729,633.70 
Leaving a balance due the Boston Elevated Railway Company of $9,943.69. 

The premium received on the sale of the above-mentioned $61,000 5% bonds, and 
amounting to $1,090.68, is still held by this Company awaiting authorization from the 
Public Service Commission in regard to its use. 

Accounts have also been received from the Boston Elevated Railway Company 
covering permanent additions and improvements made during the twelve months end- 
ing June 30, 1915, and amounting to $526,606.44, but these have not as yet been 
audited and approved. 

Dividends on capital stock, interest on funded debt, and taxes have been paid by 
the Boston Elevated Railway Company. 

For the Directors, 

Boston, October 27, 1915. JOSEPH B. RUSSELL, President. 



West End Street Railway Compar 

Joseph B. Russell, President Moses Williams, Vice Preside 
Parkman Dexter, Treasurer and Clerk 



Twenty-Eighth Annual Repo 

for the year ending June 30, 1915 



Twenty-Ninth Annual Report 



of the 

West End Street Railway Company 

The Directors respectfully submit the following report for the twelve months ending 
June 30, 1916: 

On that date the Condensed Trial Balance of the Company was as follows : 

ASSETS. 

Road-bed, Tracks and Electrical Construction $14,272,065.15 

Equipment 13,054,699.41 

Land, Buildings, Power Stations and Machinery 12,370,085.04 

Subway Equipment 298,950.56 

Cash and Accounts Receivable 1,258,163.21 

Special Trust Fund (Section 9, Chap. 740, Acts 1911) 1,500,000.00 

Total $42,753,963.37 

LIABILITIES. 

Capital Stock — Common $13,445,150.00 

Preferred . 6,400,000.00 

Bonds (includes $9,000 due May 1, 1916, but not yet presented) . . 19,480,000.00 
Accounts Payable — due Boston Elevated Railway Company . . . 615,122.61 

Surplus: Premium realized on Capital Stock since 

October 1, 1897 $2,216,437.52 

Premium on Bonds not yet due, realized since 

October 1, 1897 369,743.46 

Profit and Loss — balance, including 
$147,373.08 Premium on Bonds due and 

paid August 1, 1915 227,509.78 2,813,690.76 

Total $42,753,963.37 

Accounts for permanent additions, alterations and improvements made by the 
Boston Elevated Railway Company for the period from July 1, 1914, to December 31, 
1915, have been audited and allowed to the aggregate amount of $605,178.92, which, 
with a balance due it on previous accounts of $9,943.69, makes a total sum due the 
Boston Elevated Railway Company of $615,122.61. 

On August 2, 1915, the Company sold $4,743,000.00 5% bonds, due one-third each 
in one, two and three years, to take care of a like amount of 4% bonds which matured 
on that date. 

On May 1, 1916, there was sold $815,000.00 of 5% bonds, due May 1, 1936, to 
take care of a like amount of 4% bonds then maturing. 

The premiums realized from these sales amounted to $32,448.48 which, with a pre- 
mium of $1,090.68 realized from a sale of $61,000.00 5% bonds on May 4, 1915, and 
making a total of $33,539.16 is held by this Company awaiting authority from the 
Public Service Commission as to its use. 

Dividends on capital stock, interest on funded debt, and taxes, have been paid by 
the Boston Elevated Railway Company. 

For the Directors, 

JOSEPH B. RUSSELL, President. 



Boston, October 25, 1916. 






West End Street Railway Compar 

Joseph B. Russell, President Moses Williams, Vice Presid 
Parkman Dexter, Treasurer and Clerk 



Twenty-Ninth Annual Repc 

for the year ending June 30, 1916 



Thirtieth Annual Report 



of the 

West End Street Railway Company 

The Directors respectfully submit the following report for the twelve months ending June 30, 1917: 
On that date the Condensed Trial Balance of the Company was as follows : 

ASSETS. LIABILITIES. 

Road-bed, Tracks and Electrical Con- Capital Stock — Common $14,029,850.00 

struction* $14,625,493.54 Preferred 6,400,000.00 

Equipment 13,054,244.41 Bonds (including $36,000 due Feb. 1, 1917, 

Land, Buildings, Power Stations and not yet presented for payment) . 19,507,000.00 

Machinery 12,457,242.95 Accounts Payable, due Boston Elevated 

Cash and Accounts Receivable .... 1,289,579.51 Railway Company 138,055.06 

Special Trust Funds (Section 9, Chap. 740, Surplus: 

Acts 1911) 1,500,000.00 Premium realized since Oct. 1, 

1897, on Capital Stock . $2,232,477.02 
Premium realized since Oct.l, 

1897, on Bonds not yet due, 386,157.60 
Profit & Loss Balance, includ- 
ing premium ($151,953.24) 
on bonds issued since Oct. 1, 
1897, and that were paid as 

they matured .... 233,020.7 3 2,851,655.35 

Total $42,926,560.41 Total $42,926,560.41 

* In this sum is included by direction of the Public Service Commission, the item of "Subway Equipment — $298,950.56," which has 
heretofore appeared as a separate item in the Annual Reports. 

During the year there were issued, and sold at auction on April 2, 1917, 11,694 shares of Common Stock of the Company, 
which realized par and a premium of $16,039.50, making the net return, $600,739.50. 

There were also issued and sold, $1,581,000 5% bonds, payable August 1, 1919, and dated August 1, 1916, to refund an 
equal amount due upon that date (premium, $474.30), $1,581,474.30. 

There were also issued and sold, $2,700,000 5% bonds, payable February 1, 1922, and dated February 1, 1917, to refund 
an equal amount due upon that date (premium, $20,520), $2,720,520.00. 

The balance due the Boston Elevated Railway Company on June 30, 1916, was .... $615,122.61 

To which, by order of the Public Service Commission, has been added ...... 3,125.68 

Total $618,248.29 

Which has been paid in part, by application of premiums on bonds previously sold, 

such use being approved by the Public Service Commission $33,539.16 

Part proceeds of sale of 11,694 shares Common Stock 584,709.13 $618,248.29 

Charges to Property Account for improvements and additions made by the Boston Elevated Railway Company have 
been audited and consented to by the Directors of this Company during the year, as follows, viz.: 

Adjustment of Murray and Bennet Street Car house $138,055.06 

which sum was due the Boston Elevated Railway Company on June 30, 1917, the close of our fiscal year. 

Since June 30, 1917, accounts previously received from the Boston Elevated Railway Company, to cover permanent 
additions, alterations and improvements made by it, have been adjusted and allowed to an aggregate amount of $470,720.23, 
covering a period from December 31, 1915, to June 30, 1917. 

There is a sum of $37,024.67 held by the Company on June 30, 1917, to await the authority from the Public Service 
Commission as to its use, made up as follows : 

Balance proceeds sale of stock over amount paid to the Boston Elevated Railway Company $16,030.37 

Net premium on $1,581,000 bonds sold August 1, 1916 474.30 

Net premium on $2,700,000 bonds sold February 1, 1917 20,520.00 

Total $37,024.67 

Dividends on Capital Stock, interest on funded debt, and taxes, have been paid by the Boston Elevated Railway Company. 

Owing to an Act of the Legislature, whereby all street railways are hereafter required to make their fiscal year the calendar 
year, thus changing the date of closing our fiscal year from June 30 to December 31, the stockholders have been asked at their 
coming meeting to change the date of the annual meeting from the fourth Tuesday in November to the fourth Tuesday in April. 

For the Directors, 

JOSEPH B. RUSSELL, President. 
Boston, October 26, 1917. 



West End Street Railway Compar 

Joseph B. Russell, President Moses Williams, Vice Presid 
Parkman Dexter, Treasurer and Clerk 



Thirtieth Annual Report 

for the year ending June 30, 1917 



Thirty-First Report 

of the 

West End Street Railway Company 

In conformity with an Act of the Legislature, whereby street railway companies have been 
required to make their fiscal year the calendar year, the Directors respectfully submit the following 
report for six months from June 30, 1917 (the date of the preceding report) to December 31, 1917: 

On that date the Condensed Trial Balance of the Company was as follows : 



ASSETS. 

Road-bed, Tracks and Electrical Con- 
struction $14,788,876.39 

Equipment 13,757,666.93 

Land, Buildings, Power Stations and 
Machinery 

Cash and Accounts Receivable . . . 

j Special Trust Fund (Section 9, Chap. 740, 
Acts 1911) 



12,463,355.21 
1,231,636.77 

1,500,000.00 



Total $43,741,535.30 



LIABILITIES. 

Capital Stock — Common $14,029,850.00 

Preferred 6,400,000.00 

Bonds (including $13,000 due Feb. 1, 1917, 

not yet presented for payment) .... 20,054,000.00 
Accounts Payable, due Boston Elevated 

Railway Company 403,549.02 

Surplus: 

Premium realized since Oct. 1, 

1897, on Capital Stock. . $2,232,477.02 
Premium realized since Oct. 1, 

1897, on Bonds not yet due, 379,816.80 
Profit & Loss Balance (inclu- 
ding premium of$160,906.44 
on bonds issued since Oct. 1, 
1897, and that have been 
paid as they mature) . . 241,842.46 2,854,136.28 

Total $43,741,535.30 



No Capital Stock was issued during the six months. 
The following bonds were issued and sold during the six months : 

$1,581,000, 7%, payable August 1, 1920 and dated August 1, 1917, to provide for payment of an equal amount due that 
date (premium $2,213.40) $1,583,213.40.- 

$570,000, 7%, payable September 1, 1947 and dated September 1, 1917, to provide for payment to Boston Elevated 
Railway Company of amounts due to it for permanent additions, as provided in the lease (premium $399.00) $570,399.00. 
On June 30, 1917, the balance due the Boston Elevated Railway Company for improvements 
and additions that had been audited and consented to by the Directors of this Company was, 
Charges to Property Account for improvements and additions made by the Boston Elevated 
Railway Company have been audited and consented to by the Directors during the six 
months as follows: 

Three acounts covering eighteen months to June 30, 1917 

Account for four months to October 30, 1917, for new equipment 

Total ". 

Less items disallowed by the Public Service Commission in the accounts covering eighteen 

months, amounting to 

Total $1,010,972.69 

Which has been paid in part by application of premiums on bonds and stock previously sold, 

such use being approved by the Public Service Commission $37,024.67 

Proceeds sale of $570,000 bonds dated September 1, 1917 570,399.00 607,423.67 

Balance due Boston Elevated Railway Company December 31, 1917 . . . . " . $403,549.02 
There is a sum of $2,213.40, the premium on $1,581,000 bonds dated August 1, 1917, held by the Company on December 31, 
1917, to await the authority of the Public Service Commission as to its use. 

Dividends on Capital Stock, interest on funded debt and taxes are payable by the Boston Elevated Railway Company, 
as provided in the lease. 



$138,055.06 



470,720.23 

402,367.25 

$1,011,142.54 



169.85 



For the Directors, 



Boston, March 29, 1918. 



JOSEPH B. RUSSELL, 

President. 



West End Street Railway Compc 

Joseph B. Russell, President Moses Williams, Vice Pre 
Parkman Dexter, Treasurer and Cierk 



Thirty-First Report 

for the six months ending December 31,19 



Thirty-Second Annual Report 



of the 

West End Street Railway Company 

The Directors respectfully submit the following Report for the twelve months ending December 31, 
1918: 

On that date the Condensed Trial Balance of the Company was as follows: 

ASSETS. LIABILITIES. 

Road-bed, Tracks and Electrical Con- Capital Stock — Common $14,029,850.00 

struction $14,788,876.39 Preferred 6,400,000.00 

Equipment 13,757,666.93 Bonds (including $6,000 due Feb. 1, 1917, not 

Land, Buildings, Power Stations and yet presented for payment) 20,422,000.00 

Machinery 12,463,355.21 Accounts Payable, due Boston Elevated 

Cash and Accounts Receivable .... 1,230,594.31 Railway Company . . . . . . . . 26,335.62 

Special Trust (Section 9, Chap. 740, Surplus: 

Acts 1911) 1,500,000.00 Premium realized since Oct. 1, 

1897, on Capital Stock . . $2,232,477.02 
Premium realized since Oct. 1, 

1897, on Bonds not yet due, 374,435.08 
Profit & Loss Balance (includ- 
ing premium of $174,035.06 
on bonds issued since Oct. 1, 
1897, and that have been 

paid as they matured) . . 255,395.12 2,862,307.22 

Total $43,740,492.84 Total $43,740,492.84 

No Capital Stock was issued during the year. 
The following bonds were issued and sold during the year: 

$375,000, 7%, dated February 1, 1918, due February 1, 1919, to provide for payment in part of amounts due the Boston 
Elevated Railway Company for permanent additions, etc., as provided in the lease. These bonds were sold without premium. 
$1,581,000, 7%, dated August 1, 1918, due August 1, 1924, to provide for an equal amount of bonds due August 1, 1918 
(premium thereon, $7,746.90) $1,588,746.90. 

On December 31, 1917, the balance due the Boston Elevated Railway Company for improve- 
ments and additions that had been audited and consented to by the Directors of the 

Company, was . . ; $403,549.02 

Which has been paid in part by application of premium on bonds previously sold, $2,213.40 
Proceeds sale of above $375,000 bonds dated February 1, 1918 375,000.00 

Making 377,213.40 

And leaving balance due Boston Elevated Railway Company December 31, 1918 .... $26,335.62 

There is a sum of $7,746.90, the premium on $1,581,000 bonds dated August 1, 1918, still held by the Company await- 
ing the authority from the Public Service Commission as to its disposition. 

Dividends on Capital Stock, interest on funded debt and taxes are payable by the Boston Elevated Railway Company, 
as provided in the lease. 

For the Directors, 

JOSEPH B. RUSSELL, 

Boston, January 22, 1919. President. 



West End Street Railway Comp; 

4 

Joseph B. Russell, President Moses Williams, Vice Presi 
Pabkman Dexteb, Treasurer and Clerk 



Thirty-Second Annual Rep 

for the twelve months ending Dec. 31,19 



Thirty-Third Annual Report 



of the 



West End Street Railway Company 



The Directors respectfully submit the following Report for the twelve months ending December 31, 
1919: 

On that date the Condensed Trial Balance of the Company was as follows: 



. 



ASSETS. LIABILITIES. 



Road-bed, Tracks and Electrical Con- Capital Stock — Common $14,029,850.00 

struction . . . . $14,788,876.39 Preferred 6,400,000.00 

Equipment 13,757,666.93 Bonds (including $6,000 due Feb. 1, 1917, not 

Land, Buildings, Power Stations and yet presented for payment) 18,466,000.00 

Machinery 12,463,355.21 Notes 1,956,000.00 

Cash and Accounts Receivable . . . 1,231,283.39 Accounts Payable, due Boston Elevated 

Special Trust (Section 9, Chap. 740, Railway Company 26,335.62 

Acts 1911) 1,500,000.00 Surplus: 

Premium realized since Oct. 1, 

1897, on Capital Stock . . $2,232,477.02 
Premium realized since Oct. 1, 

1897, on Bonds not yet due, 373,960.78 
Profit & Loss Balance (includ- 
ing premium of $174,509.36 
on bonds issued since Oct. 1, 
1897, and that have been 
paid as they matured) . 256,558.50 2,882,996.30 

Total $43,741,181.92 Total $43,741,181.92 

No Capital Stock was issued during the year. 

The following changes have been made during the year in the Funded Debt of the Company: 

On February 1, 1919, $375,000 in bonds became due, and were paid through the proceeds of a One-year Note for same 
amount, bearing interest at 6%. 

On August 1, 1919, $1,581,000 in bonds became due, and were paid through the proceeds from eight Six Months' Notes 
aggregating the same total, dated July 30, 1919, and discounted at 6%, the interest being paid by the Boston Elevated Railway 
Company. 

No bills for permanent additions made by the Boston Elevated Railway Company have been approved during the year, 
the balance of approved accounts due that Company remaining unchanged. All accounts to June 30, 1917, have been approved. 
Since that date four accounts, covering additions and improvements to June 30, 1919, have been presented but not yet approved. 

The sum of $7,746.90, premium on sale of $1,581,000 bonds dated August 1, 1918, is still held by the Company awaiting 
authority from the Public Utilities Department as to its disposition. 

The dividends on Capital Stock, interest in funded debt, and taxes are payable by the Boston Elevated Railway Company, 
as provided in the lease. 

For the Directors, 

J. B. RUSSELL, 
Boston, January 9, 1920. President. 



s< 



West End Street Railway Compar 



Joseph B. Russell, President E. C. Hultman, Vice Presid 
PahkiAan Dextek, Treasurer and Clerk 



Thirty -Third Annual Repo 

for the twelve months ending Dec. 31, 1919 



Thirty-Fourth Annual Report 



of the 



West End Street Railway Company 



The Directors respectfully submit the following Report for the twelve months ending 
cember 31, 1920: 

On that date the Condensed Trial Balance of the Company was as follows: 



ASSETS 

^oad-bed, Tracks and Electrical Con- 
struction $14,788,876.39 

Pquipment • • • 13,757,666.93 

and, Buildings, Power Stations and 

Machinery 

.nanent Additions — Suspense 
sh and Accounts Receivable . 
■ecial Trust (Section 9, Chap. 740, 
icts 1911) 



12,463,355.21 
1,561,245.21 
1,238,319.04 



1,500,000.00 



$45,309,462.78 



LIABILITIES 

Capital Stock — Common $14,029,850.00 

Preferred . ... 6,400,000.00 

Bonds (including $1,000 due Feb. 1, 1917, 
and $12,000 due Aug. 1, 1920, not yet 

presented for payment) 16,892,000.00 

Notes 5,098,245.21 

Accounts Payable, due Boston Elevated 

Railway Company ....... 26,335.62 

Surplus : 

Premium realized since Oct. 1, 

1897, on Capital Stock . $2,232,477.02 
Premium realized since Oct. 1, 

1897, on Bonds not yet due, 371,747.38 
Profit & Loss Balance (includ- 
ing premium of $176,722.75 
on Bonds issued since Oct. 1, 
1897, and that have been 
paid as they matured) . 258,807.55 2,863,031.95 

$45,309,462.78 



No Bonds or Capital Stock of the Company were issued during the year. 

The following changes have occurred in the Debt of the Company: 

On February 1, 1920, $375,000 note of the Company became due and was paid through the proceeds of a one-year note 
i'or same amount bearing interest at 6%. 

Eight six-months' notes for a total of $1,581,000, dated July 30, 1919, were extended when they became due January 30, 
920, and on May 26, 1920, were paid through the proceeds of a one-year note for same amount, bearing interest at 6%. 

On August 1, 1920, $1,581,000 in bonds bearing interest at 7% became due and were paid through the proceeds of a one- 
pear note for same amount, bearing interest at 6%. 

On July 9, 1920, a $1,561,245.21 note for one year, bearing interest at 6%, was, under the direction of the Department 
sf Public Utilities, given to the Boston Elevated Railway Company in accordance with an agreement with said Company in 
regard to certain permanent additions made by it to property of this Company. 

No bills for permanent additions, except as above, have been approved during the year. 

The sum of $7,746.90, premium on sale of $1,581,000 bonds, dated August 1, 1918, is still held by the Company awaiting 
authority from the Department of Public Utilities as to its disposition. 

The dividends on Capital Stock, interest on Funded Debt, and Taxes, are payable by the Boston Elevated Railway 
Company. . 

For the Directors, 

JOSEPH B. RUSSELL, 
Boston, January 28, 1921. President. 



West End Street Railway Compj 

Joseph B. Russell President. E. C. Hultman, Vice-Pre 

Pabkman Dexter, Treasurer and Clerk 



Thirty-Fourth Annual Rep< 

for the twelve months ending Dec. 31, 1 9i 



Thirty-Fifth Annual Report 

of the 

West End Street Railway Company 



The Directors respectfully submit the following Report for the twelve months ending 
December 31, 1921: 

On that date the Condensed Trial Balance of the Company was as follows: 



ASSETS 

Road-bed, Tracks and Electrical Con- 
struction $14,788,876.39 

Equipment 13,757,666.93 

Land, Buildings, Power Stations and 

Machinery 12,463,355.21 

Permanent Additions — Suspense . . 1,561,245.21 

Cash and Accounts Receivable . . . 1,225,223.90 

Special Trust (Section 9, Chap. 740, 

Acts 1911) 1,500,000.00 



LIABILITIES 

Capital Stock — Common ..... $14,029,850.00 

6,400,000.00 

16,879,000.00 

5,098,245.21 



Preferred 

Bonds 

Notes 

Accounts Payable, due Boston Elevated 

Railway Company 

Surplus: 

Premium realized since Oct. 1, 

1897, on Capital Stock . $2,232,477.02 
Premium realized since Oct. 1, 

1897, on Bonds not yet due, 371,747.38 
Profit & Loss Balance (includ- 
ing premiums of $176,722.75 
on Bonds issued since Oct. 1, 
1897, and that have been 
paid as they matured) 



26,335.62 



$45,296,367.64 



258,712.41 2,862,936.81 
$45,296,367.64 



No bonds or Capital Stock of the Company were issued during the year, and no change was made in the amount of the 
outstanding notes of the Company. Those notes coming due during the year were either extended or made payable on demand. 

The only change in the debt of the Company came through the payment of $13,000 of overdue bonds. 

No bills for permanent additions have been received from the Boston Elevated Railway Co. during the year. 

The dividends on capital stock, interest on funded debt, and taxes, are payable by the Boston Elevated Railway Co. 



For the Directors, 



Boston, January 27, 1922 



JOSEPH B. RUSSELL, 

President 



West End Street Railway Comp< 

Joseph B. Russell, President E. C. Hultman, Vice-Prct 

Parkman Dexter, Treasurer and Clerk 



Thirty-Fifth Annual Repor 

for the twelve months ending Dec. 31, 1921 



I 



STATE TRANSPORTATION LIBRARY 



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