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Author: 

Redmond, Kerr & Co., 
New York 

Title: 

Street railways of greater 

New York 

Place: 

[n.p.] 

Date: 

[1897] 



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Business 
D540 

R248 

Redmond, Kerr h oo., Nevf York» 

Street railv/ays of greater Nev/ York< 

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Street Railways 

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Greater New York 



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COMPLIMENTS OF 



REDMOND, KERR & CO., 



Bankets, 



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NEW YORK. 



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Copyright 1897 

BY 

REDMOND, KERR & CO. 



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STREET RAILWAYS 



OF 



Greater New York 



The following description of the street railways of 
Greater New York has been carefully compiled, the figures 
and facts having been obtained from official sources 
wherever possible. The various railways have been ar- 
ranged in order according to the systems of which they 
form a part. In New York City proper the elevated rail- 
roads are all owned by one corporation. In Brooklyn 
there are two separate and distinct lines and companies. 
The surfacii roads in New York City proper are controlled 
by two systems. In Brooklyn the work of consolidation 
has not progressed so far, although proceeding rapidly. 
In Long Island City one corporation controls the various 
lines, and the suburban lines in the northern part of New 
York City are likewise controlled by one corporation. On 
Staten Island there are two competing companies. 



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INTENTIONAL SECOND EXPOSURE 







Copyright 1897 

BY 

REDMOND, KERR & CO. 



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STREET RAILWAYS 



OF 



Greater New York 



The following description of the street railways of 
Greater New York has been carefully compiled, the figures 
and facts having been obtained from official sources 
wherever possible. The various railways have been ar- 
ranged in order according to the systems of which they 
form a part. In New York City proper the elevated rail- 
roads are all owned by one corporation. In Brooklyn 
there are two separate and distinct lines and companies. 
The surface roads in New York City proper are controlled 
by two systems. In Brooklyn the work of consolidation 
has not progressed so far, although proceeding rapidly. 
In Long Island City one corporation controls the various 
lines, and the suburban lines in the northern part of New 
York City are likewise controlled by one corporation. On 
Staten Island there are two competing companies. 



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2 



STREET RAILWAYS 



METROPOLITAN STREET RAILWAY COMPANY. 



Organized in 1893; a consolidation of various existing 
street railways in New York City ; capital stock, $30,000,000; 
for a number of years the operating company of the Metro- 
politan Traction Company, a company incorporated August 
4, 1892, as successor to a company of the same name, 
chartered under the laws of New Jersey. The Traction 
Company was organized for the purpose of forming an ex- 
tensive system of street railroads in New York City by the 
purchase, consolidation and improvement of existing lines. 
To attain this object the company bought and leased old 
lines, obtained new franchises, and by connecting established 
lines formed new routes of travel, making it possible to 
travel from one part of the city to any other part by the 
payment of a single fare. At present there are operated 
under its system 9.08 miles of electric road, 157-55 miles of 
horse road and 23.03 miles of cable road. Total, 189.66 
miles. Nearly one-half of this is owned in fee or held under 
lease with the additional security of ownership of two- 
thirds of the capital stock of lessor companies. The balance 
is held under long leases, in no case less than 99 years. By 
substituting mechanical traction for horse power, the com- 
pany reduced the cost of operating many of its lines very 
materially, the cost of operating the Broadway road hav- 
ing been reduced from ^6 per cent, to 38 per cent. In the 
matter of change of motive power, however, the Company 
proceeded slowly, believing it wise to wait until the best 






^ 



OF GREATER NEW YORK. 3 

method for a permanent system should be determined upon. 
With this end in view it utilized the best electrical and 
engineering talent. The experiment of operating the Lenox 
Avenue line by under-ground electricity has evidently 
proved successful, as the Fourth Avenue line has just been 
equipped with the under-ground electric system. The cost 
of operating the under-ground system is no greater than of 
operating the trolley system, and the increased cost of con- 
struction will be fully repaid by the superior wearing quali- 
ties of the under-ground system. 

The following extracts taken from the circular of January 
16, 1896, of President Vreeland, will be of interest as 
showing the policy of the company ; 

" The policy now should be to proceed conservatively in 
** the work of making changes of motive power, but it is 
" confidently believed and expected that every mile of the 
" system now operated by horses can be improved by the 
" substitution of mechanical traction within the next three 
" or four vears, in such a manner as to leave no doubt of 
" the excellent results to follow, and thus, in conjunction 
^* with competent and economical management, serve to add 
** very greatly to the earning capacity of the entire prop- 
** erty." 

" It may, moreover, be said, in, a general way, that the 
** policy of the directors throughout has been such as to 
" involve large immediate outlay, and even loss, to obtain 
** permanent value and ultimate profit. For example, a 
" much cheaper lot could have been obtained for a down- 
" town power house than that which was purchased at the 
" corner of Broadway and Houston Street, but it was be- 
" lieved to be wiser to buy expensive property on Broad- 
" way itself, where tenants are more readily secured, and 
" improve it in such a way as to afford the space needed for 



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STREET RAILWAYS 

power under ground. The result was that the company 
was obliged to bear a heavy burden in 1894, when hardly 
any revenue was derived from the new building, but is 
now receiving $120,000 a year in rentals, thus obtaining 
space for its power and offices for a nominal sum." 
" The company is now bearing a like burden on Lexing- 
ton avenue, where the Broadway experiment is being re- 
peated. In this instance, all available space is utilized by 
erecting a large building to be leased for manufacturing 
purposes over the machinery in the cellar. The necessary 
room for power might have been obtained for much less 
cost ; but, when it is completed, the building will, it is be- 
lieved, yield the company, from its own income, a free 
rental." 



The Traction Company had an authorized capital stock 
of $30,000,000, par value $100, of which there was out- 
standing on September i, 1897, $28,366,600. In 1894, 1895 
and 1896 dividends of 5 per cent, per annum were paid, and 
in January, April and July of 1897 dividends of i 1/4 per 
cent, each were paid. The franchises of the company are 
perpetual. 

In November, 1896, the directors of the Traction Com- 
pany, having concentrated in the Metropolitan Street Rail- 
way Company the various properties of the Traction Com- 
pany, and believing that the object of the organization of 
the Traction Company had been accomplished, voted to 
wind up its affairs. A meeting of the stockholders was 
held on September 14, 1897, to vote on the above proposi- 
tion and to devise the best method for dissolving the com- 
pany. It was decided that the entire assets of the Traction 
Company, consisting of the entire capital stock of $30,000,- 
000 of the Metropolitan Street Railway Company and other 



OF GREATER NEW YORK. 5 

property and securities valued at about $6,000,000, be dis- 
tributed as follows ; Each Traction stockholder to receive 
in exchange for his Traction stock an equal amount of Me- 
tropolitan Street Railway stock, share for share, and in ad- 
dition the street railway company is to issue to Traction 
Company stockholders /r^ rata 5 per cent, debenture obliga- 
tions to the amount of $6,000,000, interest to begin after the 
earning capacity of the property has received the benefit of 
expenditures now being made. The assets thus capitalized 
consist of about two-thirds of the capital stock of the Second 
Avenue Railroad Company, more than two-thirds of the cap- 
ital stock of the Central Crosstown Railroad Company, 600 
bonds of the Metropolitan Crosstown Railroad Company 
and of the Broadway Surface Railroad Company ; about 
$1,700,000 in cash ; part of the stock of the Central Park, 
North & East River Railroad Company, also of the Forty- 
second Street «& Grand Street Ferry Railroad Company, and 
$270,000 worth of improved city real estate. It is expected 
that the improved facilities created will begin to earn in 
December, but as large development cannot be made for 
considerable time thereafter stockholders have agreed to 
forego interest upon the certificates of indebtedness until 
next summer. 

The constituent companies of the Metropolitan Street 
Railway are : 



Broadway Surface R. R. 

Houston, West St. & Pavonia Ferry R. R. 

South Ferry R. R. 

Lexington Ave. & Pavonia Ferry R. R. 

Columbus & Ninth Ave. R. R. 

Metropolitan Crosstown R. R. 

Chambers St. & Grand St. Ferry R. R. 



6 STREET RAILWAYS 

Lines of road owned by the above companies are: 

Grand Central Station to Chambers St. Ferry 3-3^ 

Grand Street Ferry to Chambers St. Ferry 2.07 

Vesey and Church Sts. to South Ferry .61 

Broadway and Fifteenth St. to Bowling Green 2.51 

Grand St. Ferry to 14th St. Ferry 328 

Lexington Ave. line 6. 19 

Ninth Ave. from 53d St. to iioth St 3-^^ 

Lenox Ave ' -^^ 

Branches ' -95 

Second Track 24.79 

4983 

Lines leased are : 

Broadway & Seventh Ave. R. R "6.44 

Twenty-third St. Ry 1784 

Central Park, North & East River 25 .59 

Eighth Ave. R. R 20. 00 

Forty- second St. & Grand St. Ferry 8.66 

Fulton St. R. R 2.00 

New York & Harlem R. R 1932 

Nmth Ave. R . R '5 • 26 

Sixth Ave. R. R 8. 14 

Thirty- fourth St. Crosstown Ry 174 

Twenty-eighth & Twenty-ninth St. Crosstown Ry 4 85 

139-84 

Total operated 189.67 

The direct bonded debt of the Metropolitan Street Rail- 
way is as follows : 

Metropolitan Crosstown Ry. first mortgage $% bonds, dated 

Apl, 1890. Due Apl., 1920. Int. A. and O $600,000 

Second mortgage 5% bonds, dated May, 1890. Due May, 

1900. Int. M. and N 3«>.o«> 

Lexington Ave. & Pavonia Ferry first mortgage $% gold 

bonds, dated Sept., 1893. Due Sept., 1993. Interest 

M. &S 5,000,000 

Columbus & Ninth Ave. R. R. first mortgage. $% gold 

bonds, dated Sept., 1893. Due Sept., 1993. Int. 

M. &S 3,000,000 

Metropolitan St. Ry. general mortgage & col. trust S% go'd 

bonds, dated Feb., 1897. Due Feb., 1997. Int. 

F. and A 12,500,000 

$21,400,000 



OF GREATER NEW YORK. T 

The first mortgage of the Metropolitan Crosstown Rail- 
way covers all the road, equipment, franchises, real estate, 
buildings and all other property now owned or hereafter 
acquired. Track extends from Grand Street Ferry, East 
River to Fourteenth Street Ferry, North River, 3.28 miles 
of double track. New York Security and Trust Company, 
trustee. 

The Metropolitan Crosstown Railway second mortgage 
provides for an income bond, and all bonds issued under it 
are now held in the treasury of the Metropolitan Street 
Railway Company, 

The first mortgage of the Lexington Avenue & Pavonia 
Ferry Railroad covers fifteen and a half miles of double 
track cable and underground electric road, as follows : 

From Broadway and 23d Street, on 23d Street to Lexing- 
ton Avenue ; thence on Lexington Avenue to 130th Street ; 
also on I i6th Street from East River to Morningside Park, 
and connection to Columbus & Ninth Avenue road at 109th 
Street, with perpetual right to run cars over the tracks of 
the Metropolitan Street Railway to Bowling Green at the 
foot of Broadway. The mortgage also covers one entire 
block of real estate at 99th Street and Lexington Avenue, 
with car-house and depot plot on the west side of Lenox 
Avenue, 200 feet by 201 feet ; also real estate and seven-story 
building on 25th street, known as the Lexington, which 
contains the power plant for the operation of the road. 
The real estate is valued as follows : 

Lexington Building, 25th and 26th Sts., Power-House. . . . $1,500,000 

I i6th St. and Lenox Ave. property 350,000 

99th and looth St. property 600,000 



♦2,450,000 



Central Trust Company, trustee. 



8 



STREET RAILWAYS 



The Columbus & Ninth Avenue first mortgage covers 
five and a half miles of double track cable road, extendmg 
from 64th Street to i loth Street, with perpetual right to run 
cars over the tracks of the Metropolitan Street Railway to 
Bowling Green at the foot of Broadway. Guaranty Trust 
Company, trustee. 

The general and collateral trust mortgage of the Metro- 
politan Street Railway covers practically all the property 
of the company, being a first mortgage on the Houston, 
West Street & Pavonia Ferry Railroad, thirteen miles of 
track known as the Avenue C line, on the Fort Lee exten- 
sion of the Chambers Street & Grand Street Ferry Rail- 
road, on the power-house to be erected at 96th Street and 
First Avenue at a cost of $2,000,000, as well as on several 
other pieces of real estate situated in various parts of the city 
and valued at $500,000. As collateral security for the mort- 
gage there are deposited : 

14,000 shares out of a total authorized issue of 21,000 
shares of the Broadway & Seventh Avenue Railroad 
Company 10 per cent, guaranteed stock. 

4,000 shares out of a total authorized issue of 7,500 shares 
of the Forty-second Street & Grand Street Ferry Rail- 
road Company's 18 per cent, guaranteed stock. 

3,000 shares out of a total authorized issue of 18,000 shares 
of Central Park, North & East River Railroad Company's 
guaranteed stock. 

9,900 shares out of a total authorized issue of 10,000 shares 
of the Thirty-fourth Street Crosstown Railway Company's 
stock. 



OF GREATER NEW YORK. 







As additional security the leases of the followmg com- 
panies are likewise pledged : 



Broadway & Seventh Avenue Railroad, 

Sixth Avenue Railroad, 

Twenty. third Street Railway, 

Eighth Avenue Railroad. 

Ninth Avenue Railroad Company, 



Bleecker Street & Fulton Ferry Rail- 
road, 
Fourth Avenue Railroad Company, 
Forty second Street & Grand Street 
Ferry, 



Central Park, North and East River Railroad. 

The surplus earnings accruing from these leases will be 
applicable as interest on this mortgage. A sum in excess 
of $8,000,000 was expended in acquiring the above stocks 
and in improvements not heretofore capitalized. Of the 
bonds secured by this mortgage $6,000,000 are reserved in 
the hands of the trustee to retire prior liens, or to be paid 
out as further expenditures are made. Guaranty Trust 
Company, trustee. 

The bonded debt of leased lines, interest on which is to 
be paid from the net earnings of the Metropolitan Street 
Railway, is as follows : 

Bleecker St. & Fulton Ferry R.R. first mortgage 7^ bonds.. $700,000 

Broadway & Seventh Ave. first mortgage 5% bonds 1,500,000 

Second mortgage s% bonds 500,000 

Broadway Surface R.R. first mortgage $% bonds; guar, by 

B'way & 7th Ave. R.R i, 125,000 

Second mortgage 5%" bonds; on second mortgage only; int. 

guar 1,000,000 

South Ferry R.R. first mortgage $% bonds (guaranteed by 

B'way & 7th Ave. R.R.) 350.000 

Broadway & Seventh Ave. R.R. consolidated mortgage $% 

gold bonds 7,650,000 

Central Park, North & East River, first mortgage 7% bonds. . 1,200,000 

Forty-second & Grand St.Ferry R.R. first mortgage 6% bonds. 236,000 

Twenty-third St. Ry. first mortgage 6% bonds 250,000 

Debenture 5^ bonds 150,000 

Broadway Surface first mortgage S% bonds; guar, by Twenty. 

third St. Ry 375,ooo 

$15,036,000 
Interest on above $794,660 



10 STREET RAILWAYS 

In addition to the foregoing interest charges the Metro- 
politan Street Railway Company pays for leases of the 
various roads, as follows : 

Bleecker & Fulton St Ferry R .R $13,500 

Broadway & Seventh Ave. R. R 210,000 

Central Park, North & East River 144,000 

Eighth Ave. R. R. 215,000 

Forty-second & Grand St Ferry R. R 134,640 

New York & Harlem — City Line 352,500 

Ninth Ave. R.R 54«500 

Sixth Ave. R. R 145,000 

Twenty-third St. Ry 108,000 

♦1,377,140 



The Broadway & Seventh Avenue Railroad assumed 
$1,125,000 of the first mortgage bonds and the interest on 

$1,000,000 of the second mortgage bonds of the Broadway 
Surface Railroad as well as the payment of $350,000 first 
mortgage bonds of the South Ferry Railroad ; $375,000 of 
the first mortgage bonds of the Broadway Surface Rail- 
road were assumed by the Twenty-third Street Railway. 



EARNINGS FOR THE YEAR ENDING JUNE 30. 

1897. 

Gross earnings. $9i436,334 00 

Operating ; 4.810.235 35 

Surplus $4,626,098 65 

Less fixed charges 3, 186,975 74 

Net earnings $1,439, '22 91 

To which must be added interest on invest- 
ments now owned by the Metropolitan St. 
Ry. Co., but lormerly paid into the 
treasury of the Traction Co 98,690 61 



1896. 

57,963.480 
4,011,932 

♦3.951.548 
2,484,701 

$1,466,847 



5i.537.8i3 52 



OF GREATER NEW YORK. 11 

BALANCE SHEET OF SEPTEMBER 30, 1897. 

Assets. 

Cost of road and equipment, franchise and property 531,363,999 98 

Additional real estate 1,031, 199 98 

Investments in stocks and bonds of other companies 12,075,668 73 

Due from leased lines, improvements 1,421,751 57 

New construction account 2, 143,262 46 

Materials and supplies 187,033 13 

OflSce furniture. 13,231 43 

Cash on hand $1,018,704 83 

•Special deposit 1,400,000 00 

♦Deposits, trust companies 3.675,000 00 



6,093,704 83 
$54,329,852 II 



♦Held for change of motive power 



Liabilities. 

Capital stock $30,000,000 00 

Funded Debt, Consolidated Companies. 

Lexington Ave. mortgage $5,000,000 00 

Columbus & Ninth Ave. mortgage 3,000,000 00 

Met. Crosstown first mortgage 6oo,coo 00 

Met. Crosstown second mortgage. 300,000 00 

8,900,000 00 

Metropolitan Street Railway general mortgage and col. trust. 12,500,000 00 

Rentals accrued 283,855 00 

Interest accrued 33»358 32 

Accounts payable 475,217 13 

Open accounts , 892,672 31 

Profit and loss (surplus) 1,244,749 35 



554,329.852 II 

Directors of Metropolitan Street Railway Com- 
pany. 

H. H. Vreeland, President; D. B. Hasbrouck, Vice- 
President; H. S. Beattie, Treasurer; Charles E. Warren, 
Secretary ; Henry A. Robinson, F. S. Pearson, A. H. Paget, 
Ralph L. Anderton, Jr., Thomas J. Brennan. 






12 



STREET RAILWAYS 



METROPOLITAN STREET RAILWAY SYSTEM. 

Bleecker Street & Fulton Ferry Railroad. 

A horse road, chartered 1864; leased on January 10, 1876, 
for 99 years to the Twenty-third Street Railway; lease 
assigned to the Metropolitan Street Railway ; double-track 
road extending from 23d Street and North River to Fulton 
Ferry and Union Square. Total track, I2J^ miles. Rental 
equivalent to 7 per cent, on bonds and 1% per cent, on stock. 
Motive power is now being changed to underground elec- 
tric system. 

Par. Interest. Outstanding. Maturity. 

Capital Stock $100 i}4 %]-&]* $900,000 

First Mortgage Bonds... i,ooo 7%J. &J. 700,000 Jan. i, 1900 

Mortgage covers all railroad, equipment, real estate, 
building and franchises and all other property now owned 
or hereafter acquired. 



METROPOLITAN STREET RAILWAY SYSTEM. 
Broadway & Seventh Avenue Railroad. 

Organized in 1864. In June, 1885, acquired the right to 
use the tracks of the Broadway Surface Railroad on 
Broadway, between 15th Street and the Battery. On June 
10, 1890, leased to the Houston, West Street & Pavonia 
Ferry Railroad (lease assigned to the Metropolitan Street 
Railway) for a rental equivalent to interest on its bonds 
and 10 per cent, on $2,100,000 of capital stock. Owns 16.44 
miles of track extending from 59th Street and Seventh Ave- 
nue to Barclay Street, and to Park Place and Broadway. 
Leases 6.24 miles. Total operated, 22.64 miles. Cable on 



OF GREATER NEW YORK. 13 

Broadway between 59th Street and Battery ; remainder of 
road horse power. 

Par. Interest. Outstanding. Maturity. 

Capital Stock $100 10 % Quar. J. $2,icx>,ooo 

First Mortgage Bonds 1,000 5 % J. & D. 1,500,000 June, 1904 

Second Mortgage Bonds 1,000 5%J-&J» 500,000 July, 1914 

Broadway Surface First Mort- 
gage (Guar.) S^J &J- It 125,000 July, 1924 

Broadway Surface Second Mort- 
gage (Int. Guar.) 5 % J- & J- 1,000,000 July, 1905 

South Ferry First Mortgage 

(Guar.) 5%'A. &0. 350,000 Apl. i, 1919 

Consolidated Mortgage, Gold 

(authorized $12,500,000).. 1,000 5%J. &D. 7,650,000 Dec. 1,1943 

In addition to its direct funded debt the Broadway 
& Seventh Avenue has assumed, as part payment for 
the use of the tracks of the Broadway Surface Rail- 
road, payment of the principal and interest of $1,125,000 
first mortgage bonds of that road and payment of the in- 
terest on the second mortgage bonds, amounting to 
$1,000,000. It likewise has assumed the principal and in- 
terest, in consideration of lease of track, of $350,000 first 
mortgage 5 per cent, bonds of the South Ferry Railroad. 

The first and second mortgages cover all railroad, equip- 
ment and franchises, also valuable real estate consisting of 
one entire block between Sixth and Seventh Avenues and 
50th and 51st Streets, and two lots adjacent thereto. 

The consolidated mortgage coveirs the entire property of 
the company, consisting, in addition to the above, of power 
house at Houston Street and Broadway, 200 x 128 feet, and 
the cable and conduit on Broadway between the tracks of 
the Broadway Surface Railroad, extending from 15th Street 
to the Battery. The titles to the power house property 
are insured for $4,000,000 by the Title Guarantee & Trust 
Co., $4,850,000 consolidated bonds are reserved to retire 



14 



STREET RAILWAYS 



prior issues and the bonds of the Broadway Surface and 
South Ferry Railroad ; Guarantee Trust Co., Trustee. 

The Broadway Surface mortgages cover all railroad, 
equipment, franchises, rights, real estate, buildings and all 
other property of the Broadway Surface Railroad. The 
company owns about two and one-half miles of double 
track extending from 15th Street to the Battery. There are 
$1,500,000 first mortgage bonds issued, of which $1,125,000 
are guaranteed, principal and interest, by the Broadway & 
Seventh Avenue Railroad and $375,000 by the Twenty- 
third Street Railway. The interest on the second mortgage 
bonds is guaranteed by the Broadway & Seventh Avenue 
Railroad. 

The South Ferry mortgage covers all franchises, priv- 
ileges, rights, railroad, equipment and all other property 
now owned or hereafter acquired by the South Ferry Rail- 
road Company. The company owns about two and one- 
half miles of single track. 



METROPOLITAN STREET RAILWAY SYSTEM. 

Central Park North & East River Railroad. 

Chartered July, i860. A horse road. On October 14, 
1892, leased to the Metropolitan Street Railway at a rental 
equivalent to 8 per cent, per annum on its capital stock un- 
til October, 1897, and 9 per cent, thereafter. 

Owns 54th St. & loth Ave. to South Fcarry, Western Belt Line 6.25 

Owns S4th St. & loth Ave. to South Ferry, Eastern Belt Line 13 .25 

Sidings 24 

20.04 
Leases 6.55 

Total operated 26.59 



OF GREATER NEV^ YORK. 



Par. 



15 



Interest. Outstanding. Maturity. 

Capital Stock $100 8%" Q., J. $1,800,000 

First Mortgage Bonds 1,000 7%]. & D. 1,200,000 Dec. i, 1902 



Bonds are secured by a first mortgage on all railroad, 
equipment, real estate, buildings, franchises, privileges and 
all other property now owned or hereafter acquired. The 
real estate consists of thirty-four valuable lots situated at 
34th Street and Seventh Avenue. Farmers' Loan & Trust 
Company, Trustee. 



METROPOLITAN STREET RAILWAY SYSTEM. 



Eighth Avenue Railroad. 



Chartered January 10, 1858. A horse road. On January 
I, 1896, leased to the Metropolitan Street Railway for 99 
years at an annual rental of $215,000, payable quarterly. 
The lessee guarantees to spend $1,000,000 within two years 
for improvements, change of motive power, etc. ; the better- 
ments to revert to lessor at expiration of lease. 

Lessee also pays taxes. Road extends from Vesey Street 
to Harlem River, about 20 miles of track. 



Par. 

Capital Stock fioo 

Scrip 100 



Interest 

Quarterly 

b% F. & A. 



Outstanding . Maturity . 
$1,000,000 
1,000,000 Feb., 1914 



Metropolitan Street Railway was confirmed in possession 
of line in May, 1897. It is proposed to adopt the under- 
ground electric system as motive power. 




m 



STREET RAILWAYS 



OF GREATER NEW YORK. 



17 



m 



'W 



1^ 



METROPOLITAN STREET RAILWAY SYSTEM. 

Forty-second & Grand Street Ferry Railroad. 

Chartered February i6, 1863. A horse road. On May 
18, 1893, leased to Metropolitan Crosstown Railway (lease 
assigned to Metropolitan Street Railway) for a rental of 
$134,640 per annum, equivalent to 18 per cent, on its capital 
stock. Owns 7.96 miles of track, extending from 42d Street 
Ferry to Grand Street Ferry. 

Par. Interest. Outstanding. Maturity. 

Capital Stock (authorized $750,000) $100 18% $748,000 
First Mortgage Bonds (authorized 

$250,000) 1,000 6^A. &0. 236,000 Jan. I, 1909 

Mortgage covers all railroad, equipment, franchises, 
rights, real estate and buildings, and all other property now 
owned or hereafter acquired. The real estate consists of 
seventeen valuable lots used by the company for stables, 
car houses, etc. 



METROPOLITAN STREET RAILWAY SYSTEM. 

Ninth Avenue Railroad. 

Chartered July 29, 1859. A horse road. On April 20, 
1892, leased to the Houston, West Street & Pavonia Ferry 
Railroad for 99 years at a rental equivalent to 6 per cent, 
per annum on its capital stock for the first five years and 8 
per cent, thereafter. Lease assigned to the Metropolitan 
Street Railway. Owns 16 miles of track, extending from 
Fulton Street to 125th Street. 



Par. Interest. 
Capital Stock $100 8^ 



Outstanding. 
$800,000 



METROPOLITAN STREET RAILWAY SYSTEM. 

Sixth Avenue Railroad. 

Chartered September 6, 1851. Ahorse road. On Feb- 
ruary I, 1892, leased to the Houston, West Street & 
Pavonia Ferry Railroad for 800 years at a rental of $145,- 
000 (lease assigned to the Metropolitan Street Railway). 
Owns tracks extending from 59th Street to Canal and Var- 
ick, 6.88 miles of track. Operates and owns jointly with 
Eighth Avenue Railroad, from Canal and Varick to Vesey 
Street, 2.24 miles ; sidings, .75 miles. Owns and operates 
2.66 miles of electric line. Total operated, 12.53 miles. 
Change of motive power to electricity is now being made. 



Par. 

Capital Stock $ioo 



Interest. 
7% 



Outstanding 

$2,030,000 



METROPOLITAN STREET RAILWAY SYSTEM. 

Twenty-third Street Railway. 

Chartered January 29, 1872. A horse road. On Jan- 
uary 10, 1876, leased the Bleecker Street & Fulton Ferry 
Railroad for 99 years. On June 7, 1893, was leased to the 
Houston, West Street & Pavonia Ferry Railroad, at a 
rental equivalent to 18 per cent, per annum on its capital 
stock. Leases assigned to the Metropolitan Street Rail- 
way. Road owned extends from 23d Street and North 
River to 23d Street and East River, 3.30 miles. Branch on 
Second Avenue to 34th Street. .40 miles. Leases 16.14 miles. 



'r* 



18 STREET RAILWAYS 

The underground electric system is to be introduced as 
motive power. 

Par. Interest. Outstanding. Maturity. 

Capital Stock $ioo i8% $600,000 

First Mortgage Bonds 1,000 6% J. & J. 250,000 Jan., 1909 

Debenture Bonds 1,000 $% J. & J. 150,000 Jan., 1906 

Guarantees $375,000 ist mortgage 5 per cent, bonds of 
the Broadway Surface Railroad. 

Mortgage covers all railroad, equipment, buildings, fran- 
chises and all other property of the company, including 
leases of valuable real estate. 



METROPOLITAN STREET RAILWAY SYSTEM. 

New York & Harlem Railroad. 

Chartered April 25, 183 1. The steam portion of this road 
is leased to the New York Central & Hudson River Rail- 
road. The street railway division is leased to the Metro- 
politan Street Railway for 999 years, from July i, 1896, at 
an annual rental of $350,000 for the first five years, and 
$400,000 thereafter. Owns 19.32 miles of track known as 
the Fourth Avenue line, extending from the Post Office and 
Fourth Avenue to Mott Haven, with branches. Change of 
motive power to the underground electric system is now 
being made. Statement of capital stock and funded debt 
not given, as they cover the entire property of the com- 
pany. 

METROPOLITAN STREET RAILWAY SYSTEM. 

Fulton Street Railroad. 
Chartered October 29, 1895. A horse road. Successor 
to the North and East River Company. Capital stock all 



OF GREATER NEW YORK. If 

owned by the Metropolitan Street Railway Company. 
Road owned extends from Burling Slip and Front Street to 
West and Cortlandt Streets, and sidings, 1.02 miles. Leases 
.95 miles. 

Par. Interest. Outstanding. Maturity. 

Capital Stock $100 $500,000 

First Mortgage Gold Bonds. . 1,000 4% M. & N. 500,000 Nov., 1995 

Mortgage covers all railroad, equipment, real estate, build- 
ings, franchises, rights, privileges and all other property 
now owned or hereafter acquired. Guaranty Trust Com- 
pany, trustee. 

EARNINGS FOR YEAR ENDING JUNE 30. 

1897. 1896. 

Gross earnings $61,639 ^29,567 

Operating expenses 34,113 25,073 

Net earnings $27,526 $4,494 

Other income 200 

Total income $27,726 $4,494 

Fixed charges 23,854 $4,535 

S"T>J'»s $3,871" det., $41 



METROPOLITAN STREET RAILWAY SYSTEM. 

Thirty-Fourth Street Crosstown Railway. 

Chartered March 18, 1896. A horse road. A consolida- 
tion of the Thirty-Fourth Street Railroad Company and 
the Thirty-Fourth Street Ferry & Eleventh Avenue Rail- 
road Company. Entire capital stock owned by the Metro- 
politan Street Railway Company. Road extends from foot 
of East 34th Street to foot of West 34th Street and trackage 
to 42d Street Ferry. Owns 2.52 miles. Leases 4.46. 



Par. Int. 

Capital Stock $100 

First Mortgage Bonds 1,000 $% A. & O. 



Outstanding. Maturity. 
$1,000,000 
1,000,000 Apl., 1996. 



•r" 



20 STREET RAILWAYS 

Principal and interest of bonds guaranteed by Metro- 
politan Street Railway. Bonds all in treasury of Metro- 
politan Street Railway Company. 

The mortgage covers all railroad, equipment, real estate, 
privileges, rights and franchises and all other property of 
every description now owned or hereafter acquired. Cen- 
tral Trust Company, trustee. 

1897. 1896. 

Gross Earnings $338,080 $291,033 

Operating Expenses ,59,039 ,30.821 

NetEarnings ^,y^^^, ^~ 

Other Income j^^q ^^^ 

Fixed Charges .^^^^^ ,2,187 

^"'Plus $160,403 $148,588 



METROPOLITAN STREET RAILWAY SYSTEM. 

Twenty-Eighth & Twenty-Ninth Street Crosstown 

Railroad 

Reorganization in 1896 of the Twenty-Eighth & Twenty- 
Ninth Streets Railroad. Entire capital stock is owned by 
the Metropolitan Street Railway Company. Road extends 
across town on 28th and 29th Streets. 5.93 miles of track. 

Par. Int. Outstanding. Maturity. 

CapitalStock $100 $1,500000 

First Mortgage Gold Bonds. i,ooo 5% A. & O. 1,500,000 Oct. i, 1996. 

Principal and interest of bonds guaranteed by Metro- 
politan Street Railway. 

Mortgage covers all railroad equipment, real estate, 
buildings, franchises, rights and all other property now 



OF GREATER NEW YORK. 21 

owned or hereafter acquired. Central Trust Company, 
trustee. 

EARNING FOR YEAR ENDING JUNE 30. 

Gross Earnings $44,380 

Operating Expenses 30f 429 

Fixed Charges 8,583 

Surplus 5*368 



METROPOLITAN STREET RAILWAY SYSTEM. 

Second Avenue Railroad. 

Chartered January 21, 1853. A horse road. In January, 
1897, control was acquired by interests identified with the 
Metropolitan Street Railway Company and it is proposed 
to lease road to the Metropolitan Street Railway. Road 
extends from Peck Slip to Harlem, with numerous 
branches. 31.38 miles of track, 4 feet Si inches gauge, 47 
to 6o-lb. rail. 



Par. 

Capital Stock $100 

First Mortgage Bonds 1,000 

Debenture Bonds 1,000 

Real Estate Mortgage 



Mortgage covers all licenses, rights, franchises, rail- 
road equipment, one entire block of real estate between 
96th and 97th Streets and First and Second Avenues, and all 
other property now owned or hereafter acquired. Central 
Trust Company, trustee. 



Interest. 


Outstanding. 
$1,862,000 


Maturity. 


5%M.&N. 


1,600,000 


Not. I, 1909 


S%h&h 


300,000 
60,000 


Jan. I, 1909 



"1^ 



mt 



rfTT-' 



22 STREET RAILWAYS 

EARNINGS FOR THE YEAR ENDING JUNE 30. 

1897. 1896. 

GrossEammgs , 

rrisr;.^;::. --- ^s 

other Income.. ^^'^'l ^"'^^ 

Totallncome J^'l^.l "'^oo 

Fixed Charges... ,^^'!!! *'^'^ 

Dividends.;:;:;:;:::: s*;?? ^"'p- ^^''^ 

Old^Balance Labor Account * * ,„, ^^''"^ 

^^«-'^-^-^ .;;;::;:; 84:218 surp. ^ 

Directors: Wm. C. Whitney, John D. Crimmins, T. F. 

Ryan, H. H. Hollister, T. J. Regan, G. G. 
Haven, Jr., D. H. Shea, W. G. Shailer, 
Pierre Jay, James J. Traynor, J. Sanford 
Barnes, Jr., Sherman Flint, H. E Doremus. 

Officers: President, Pierre Jay; Vice-President, J. San- 

ford Barnes, Jr.; Secretary and Treasurer, 
H. E. Doremus. 
Office, 1874 Second Avenue, N. Y. 



METROPOLITAN STREET RAILWAY SYSTEM. 

Central Crosstown Railroad. 

Chartered March 28, 1878. A horse road. On May 28, 
1890, leased the Christopher & Tenth Street Railroad at a 
rental equivalent to interest on its funded debt and 8 per 
cent, per annum on its capital stock and all taxes. In May, 
1897, a controlling interest in the stock of the Central 
Crosstown Railroad was purchased by interests identified 
with the Metropolitan Traction Company. Road owned 



r^ B T J UL ~- 



OF GREATER NEW YORK. 



23 



extends from 23d Street and East River to Hoboken Ferry, 
4.19 miles. Road leased extends from Hoboken Ferry to 
East Tenth Street Ferry, 6.81 miles. Gauge, 4 feet, 8>^ 
inches ; 52-lb. rail. 

Par. Int. Outstanding. Maturity. 

Capital Stock $100 $600,000 

First Mortgage Bonds 1,000 6 % M. & N. 250,000 Nov. I, 1922 

« 

Mortgage covers all franchises, rights and privileges, all 
railroad, equipment, buildings, depots, eight lots of real 
estate at 22d Street and Avenue A, and all other property 
now owned or hereafter acquired. American Loan and 
Trust Company, Trustee. 



EARNINGS FOR THE YEAR ENDING JUNE 30. 

1897. 1896. 

Gross Earnings $5^.720 1560,001 

Operating Expenses 4iOi409 398,254 

Net Earnings IS9.3"I i6i,747 

Other Income 4»SS6 47.547 

Totallncome 163.867 209,294 

Fixed Charges 106,143 103,366 

Balance 57.724 105,928 

Dividends 60,000 51,000 

Deficit 2,276 Surp. 54,928 



Directors 



Officers : 



Wm. C. Whitney, T. F. Ryan, John D. 
Crimmins, Pierre Jay, Thos. Regan, John D. 
Crimmins, Jr.; D. H. Shea, H. H. Hollister, 
Geo. G. Haven, Jr.; J. S. Barnes, Jr.; Jas. J. 
Traynor, Geo. H. Linch, Shepard Gandy. 

President, Pierre Jay ; Vice-President, J. San- 
ford Barnes, Jr.; Treasurer, Milton J. Mas- 
son. 
Office, 170 Christopher Street. 



i 




•r-' 



24 



STREET RAILWAYS 



METROPOLITAN STREET RAILWAY SYSTEM. 

Christopher & Tenth Street Railroad. 

Chartered April 25, 1873. On May 28, 1890, leased to 
the Central Crosstown Railroad, at a rental equivalent to 
interest on its bonds and 8 per cent, on its capital stock. 

Pa*"- Int. Outstanding. Maturity. 

Capital Stock $,00 8%Q.,J $650,000 

Mortgage Bonds ,,ooo 7 ^ A. & O. 100,000 Oct. i . ,898 

Mortgage Bonds i.ooo 6 ^ A. & O. 30,000 Oct. i, 1898 

Mortgage Bonds i.ooo 5 %• A. & O. 50,000 Oct. i. 1898 

Real LsUte Mortgage 1,000 4}4^M.&N. 30,000 

The 5 per cent., 6 per cent, and 7 per cent, bonds are 
secured by the same mortgage covering the entire prop- 
erty of the Company, including franchises, privileges, etc. 
The Company owns seven and one-half miles ol track. 



« 



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No. 1. Cable Bnildlng and Houston 8t Power Hoou^ 
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" 8. Belt Line Depot and Repair Shops. 
" 4. Ninth Ave. Depot and Cai Hooaau 
" 5. Forty-Second St. Depot. I 

" 6. Twenty-Third St. Depot. | 

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8. Front St Power House. 

9. Chambers St. Depot. 

10. Avenne C. Depot. 

"11. Ninety-Ninth St. Car Honse. 

" 18- 116th 4e ll7th St- Property- 



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" 16. Thirty -Fourth St Terminal Property. 

** 16. 14lBt St and Lenox Ave. Property. 

" 17. Eighth Avenue Depot 

" 18. Blghth Avenue Terminal Depot 

" 19- New York and Harlem R. R- Depot 

" 20. " . " " " Uptown Depot 

" SI. Seoond ATenne R. R. Depot 

" 28. " " " Uptown Depot 

" 28. Central Cross-Town R. R. Depot (West Side). 

" 84. " " u . (Eaet Side). 



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No. 1. Cable Building and Houston St Power House. 
" 2. 60th St. Depot and Power Station]. 
3. Belt Line Depot and Repair Shops. 



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" 2, 50th St. Depot and Power Station. 
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" IG. Averme C. Depot. 

** 1 1, Ninety-Hinth St. Car House. 

• 12. Ii6tk & 11 7th St. Property. 



DEPOTS AND POWER HOUSES. 

No. 13. Ninth Ave. Line Terminal. 

14. 146th St. and Lenox Ave Power H 

15. Thirty-Fourth St. Terminal Prop^ 

16. 141st St. and Lenox Ave- Proper 

17. Eighth Avenue Depot- 

18. Eighth Avenue Terminal Depot- 
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^ ^' DEPOTS AND POWER HOUSES. 

le Bnilding and Honston St Power House. 

St. Depot and Power StatioDj. 

Line Depot and Repair Shopfi. 
:h Ave. Depot and Car House. 
ty-Second St. Depot. 
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pington Biiilding and Power H6use. 
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:h & 1 1 7th St. Property. 



RED LINES 



No. 13- Ninth Ave. Line Terminal. 
" 14. 146th St. and Lenox Ave. Power Hotise. 
16. Thirty-Fourth St Terminal Property. 

16. 141st St. and Lenox Ave. Property. 

17. Eighth Avenue Depot. 

18. Eighth Avenue Terminal Depot. 

19. New York and Harlem R. R. Depot. 
" 20. " .« « « Uptown Depot. 
" 21. Second Avenue R. R. Depot. 
" 22. « « « Uptown Depot. 
" 23. Central Cross-Town R. R. Depot (West Side). 
" 24. «« « " '« (East Side). 



OPERATED BY HORSES. 



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V^.ruidlDg and Honston St. Power House. 

h St. Depot and Fov/er Station- 
Li '.le Depot dy:.d Pvepair Shops. 

:ii Are. L'epot and Car House.i 

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No. 13. Ninth Ave. Line Terminal. 
" 14. 146th St. and Lenox Ave. Power House. 
" 15. Thirty-Fourth St. Terminal Property. 
" 16. 141st St. and Lenox Ave. Property. 
" 17. Eighth Avenue Depot. 
" 18. Eighth Avenue Terminal Depot. 
" 19. New York and Harlem R. R. Depot. 
" 20. " . « « « Uptown Depot. 

" 21. Second Avenue R. R. Depot. 
" 22. " « « Uptown Depot. 

23. Central Cross-Town R. R. Depot (West Sf.de). 

24. " " « '« (East Side). 



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JOIN7 TRANSFER WITH LINES SN GREEN 



OF GREATER NEW YORK. 



35 



THIRD AYENDE RAILROAD. 



Chartered October 8, 1853. Cable power adopted in 
1893. Control of the Forty-second Street, Manhattanville 
and St. Nicholas Avenue Railroad Company was obtained 
in November, 1895. Company likewise obtained from 
New York City the franchise for the Kingsbridge Road 
extension from 1626 Street along Kingsbridge Road, across 
proposed bridge over ship canal, across Spuyten Duyvil 
Creek to Broadway, and branches on St. Nicholas Avenue, 
Riverdale Avenue and Eleventh Avenue. Road extends 
from Post Office to 130th Street and 3d Avenue, with 
branches, 28.37 miles. Gauge, 4 feet 8| inches; 80-lb. rail. 

Capital stock (authorized ''""' '"'"''' Outstanding. Maturity. 

$12,000,000) $100 $10,000,000 

First Mortgage Gold Bonds. . i,ooo s% J- & J. 5,000,000 July i, 1937. 

Mortgage covers all railroad and equipment, franchises, 
privileges, right of way, betterments and all property now 
owned or hereafter acquired, with the exception of various 
pieces of real estate, with buildings and improvements 
thereon. 

EARNINGS FOR THE YEAR ENDING JUNE 30. 

1897. 1896. 

Gross Earnings $2,590.473 00 $2,628,628 

Operating Expenses 1,440,76791 1.513,155 

JJf'^"^"^^ 1.149.70603 ,,,15,473 

Otherlncome ^^^^, ^ ^^^, 

Tou^Income 1,195,14703 ,,,56,464 

FixedCharges 367.28333 347.I20 

^"^"r^ 827,86400 809,344 

S*^^^^°d« 875.00000 880.000 

^*^"' 47.136 00 70.656 



26 



STREET RAILWAYS 



Directors: Henry Hart, S. S. Riker, Robert W. Tailer 

John E. Parsons, E. Lauterbach, A. J. Elias, 
Wm. H. Webb, Emanuel Lehman, Abraham 
Ayres, Charles Remsen, Henry Iden, David 
C. Andrews, S. Townsend. 

Officers : President, Albert J. Elias; Vice-President, 

Henry Hart; Treasurer, John Beaver; Secre- 
tary, Alfred Lazarus; Superintendent, John 
H. Robertson. 



THIRD AVENUE SYSTEM. 

« 

Forty-Second Street, Manhattanville and St. Nicholas 

Avenue Railway. 

Chartered August 29, 1878. A horse road. November, 
1895, control was acquired by the Third Avenue Railroad. 
Total track owned, 24.9 miles. Road runs on 42d Street from 
North to East River, on Seventh Avenue from 42d Street 
to Boulevard, on Tenth Avenue from 59th Street to Man- 
hattan Street, from North River on Manhattan Street, St. 
Nicholas Avenue and i loth Street to East River. Gauge, 
4 feet 8^ inches; 45 to 60 lb. rail. 



Par. 



Maturity. 



Interest. Outstanding. 

Capital Stock $100 $2,500,000 

First Mortgage Bonds i.ooo 6%" M. & S. 1,200,000 March i, 19 10. 

Second Mortgage Bonds 1,000 6% as earned. 1,500,000 Jan. i, 1915. 

Real Estate Mortgage — $% 100,000 

First and second mortgages cover railroad, equipment, 
franchises, real estate, buildings and all other property 
now owned or hereafter acquired. The second mortgage 
merely provides for an income bond. Interest not to 
exceed 6 per cent, is to be paid as earned from the net 



'i 



y 



OF GREATER NEW YORK. 



27 



earnings of the company and is not to be cumulative. 
Union Trust Company, trustee. 

Directors: Henry Hart, E. Lehman, R. W. Tailer, J. E. 

Parsons, Edw. Lauterbach, W. H. Webb, S. 

Townsend, Chas. Remsen, H. Iden, A. J. 

Elias, D. C. Andrews. 
Officers: President, A. J, Elias; Vice-President, H. 

Hart ; Secretary and Treasurer, D. C. 

Andrews; 



THIRD AVENUE SYSTEM. 
Dry Dock, East Broadway & Battery Railroad. 

Chartered December 8, 1863. A horse road. Road 
owned extends from 34th Street Ferry to City Hall, from 
23d Street Ferry to City Hall, from Grand Street Ferry, 
East River, to Desbrosses Street Ferry, North River, and 
from Grand Street Ferry to Cortland Street Ferry, 19.77 
miles in all. Gauge, 4 feet S}^ inches ; 47 to 6o-lbs. rail. 



Par. 

Capital Stock $ioo 

First Mortgage gold bonds 

(authorized $1,000,000) . i,ooo 
Certificates of Indebtedness. . lOO 



Int. Outstanding. Maturity. 

$1,200,000 



S% J. & D. 95O1OOO 
5%F. &A. 1,100,000 



Dec., 1932 
Feb., 19 14 



In August, 1897, control of capital stock was acquired by 
interest supposed to be identified with the Third Avenue 
Railroad. 

Mortgage covers all railroad, equipment, several pieces 
of valuable real estate and betterments thereon, franchises, 
rights and all other property. In case of change of motive 



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28 



STREET RAILWAYS 



power, new equipment equal in amount to value of old 
equipment is to be included under additional mortgage. 

STATEMENT FOR YEAR ENDING JUNE 30. 

1897. 1896. 

Gross earnings $687,648 $743,474 

Operating expenses 518,516 563,61 1 

Net earnings 169, 132 179,863 

Other income 3ij067 12,565 

Total income 200, 199 192,428 

Fixed charges ... 134,906 128,612 

Net income 65,293 63,816 

Dividends (4j^) 54,000 {6%) 72,000 

Surplus 1 1,293 Deficit 8, 185 

Directors: Gustav E. Kissel, Gordon Macdonald, Henry 

Hart, Robert W. Tailer, John E. Parsons^ 
Edward Lauterbach, Albert J. Elias, VVm. 
H. Webb, Emanuel Lehman, Chas. Remsen, 
Henry Iden, David C. Andrews. 

Officers : President, Gustav E. Kissel ; Vice-President, 

Albert J. Elias ; Secretary, Frederic Vie weg ; 
Treasurer, John Byrns. 
General Offices : 605 Grand Street, New York 
City. 



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OF GREATER NEW YORK. 



29 



UNION RAILWAY COMPANY OF NEW YORK CITY. 



Chartered July 2, 1892. A consolidation of the Harlem 
Bridge, Morrisania & Fordham, the North Third Avenue 
& Fleetwood Park and the Melrose & West Morrisania 
Railway Companies. Controls through ownership of stock 
the West Chester Electric Railroad and Southern Boule- 
vard Railroad. Operates by electricity 37 miles of track, 
extending from the Harlem River north and east through 
Kingsbridge, West Chester, East Chester, Pelham and 
New Rochelle. Gauge, 4 feet 8J inches. 70 to 90-lb. 
rail. 



Par. 



Int. 



Outstanding. Maturity. 

Capital Stock. $100 $2,000 oco 

First Mortgage Gold Bonds . 1,000 $% F. & A. 2,000,000 Aug. i, 1942. 



EARNINGS FOR YEAR ENDING JUNE 30TH. 

1897. 

Gross earnings $541,854 80 

Operating expenses 3231O32 79 

Net earnings 218,822 01 

Other income 999 96 

Gross income 219,821 97 

Interest and taxes I33<43* 45 

Surplus 86,390 52 



1896. 
$490,169 55 
306,282 14 
183,887 41 

999 96 
184,887 37 

125,061 72 

59.825 65 



The mortgage covers all railroad, equipment, real estate 
and improvements thereon, franchises, and all other prop- 
erty now owned or hereafter acquired, including the capital 
stock of the West Chester Electric Railroad, $500,000, and 






80 



STREET RAILWAYS 



the capital stock of the Southern Boulevard Railroad, 
$250,000. Real estate is valued at $400,000. 

Directors : Chas. A. Stadler, A. G. Hupfel, E. A. Maher, 

Thos. W. Olcott, Robt. C. Pruyn, A. N. 
Brady, J. N. McNamara, Wm. Shaw. 

Officers: Edward A. Maher, President and General 

Manager ; Chas. A. Stadler, Vice-President ; 

Thomas. W. Olcott, Secretary and Treas- 
urer. 



UNION RAILWAY SYSTEM. 

Southern Boulevard Railroad Company. 

Chartered June 27, 1885 ; road opened August 20, 1895. 
Owns seven miles of track extending from Lincoln Ave- 
nue to Boston Avenue, operated by electricity. 



Capital Stock 

First Mortgage Gold Bonds. 



Par. 

|icx> 
1,000 



Int. 



Outstanding. Maturity. 



$250,000 
250,000 



July I, 1945 



Stock all owned by the Union Railway Company. 

Bonds guaranteed by the Union Railway Company. 

Bonds are secured by a first mortgage on all railroad, 
equipment, real estate, privileges, rights, franchises, lease- 
hold interests, buildings and all other property now owned 
or hereafter acquired. 



J 



OF GREATER NEW YORK. 81 

UNION RAILWAY SYSTEM. 

Westchester Electric Railroad. 

Chartered March 2i,.i89i. Consolidation June i, 1893, 
of the Mount Vernon & East Chester Railway Company 
and the New Rochelle Railway & Transit Company. 
Operates 16.54 miles of track, extending from Mount Ver- 
non through Pelhamville and New Rochelle. 

Par. Int. Outstanding. Blaturity. 

Capital Stock $100 $S«>,ooo 

First Mortgage Gold Bonds.. 1,000 $%]'&]' $«>.«» July i, 1943 

Stock all owned by the Union Railway Company. 

Bonds guaranteed by the Union Railway Company. 

Mortgage covers all railroad, equipment, real estate, 
buildings, franchises and all other property now owned or 
hereafter acquired. 

EARNINGS FOR THE YEAR ENDING JUNE 30. 

1897. 1896. 

GrossEarnings $129,484 55 $124,513 62 

Operating Expenses 87,55945 91,23878 

Net Earnings 41.925 >o 33.274 84 

Interest and Taxes 28,87696 29,03294 

Surplus 13.048 14 4,241 90 




B2 



STREET RAILWAYS OF GREATER NEW YORK. 



MANHATTAN BAILWAY COMPANY. 

An elevated railroad chartered December 29, 1875, now 
owns and operates all the elevated roads in New York 
City, a total trackage of 102.26 miles, 4 teet Sj4 gauge, 63 
to 90- lb. rail. 

Par. Int. Outstanding. Maturity. 

Capital Stock $ioo $30,000,000 

Manhattan Railway (Consoli- 
dated Mortgage Gold) . . . 1,000 4% A. & O. 24,065,000 April, 1990 

New York El;:vated Railroad 
Debenture 1,000 5% M. & S. 1,000,000 March 1.1916 

Metropolitan Elevated Rail- 
road (First Mortgage Gold) i.ooo eo^J. &J. 10.818,000 July I, 1908 

Metropolitan Elevated Rail- 
road (Second Mortgage 
^o***) 1,000 6%M.&N. 4.000,000 Nov. I, 1899 

The issue of consolidated mortgage bonds is limited to 
$40,000,000 for the present system, but may be increased 
for extensions at the rate of $6oo,ooo per mile of double 
track and $300,000 per mile of smgle track. Sufficient of 
these bonds are reserved to retire the outstanding prior 
issues of the Metropolitan Elevated Railroad and New 
York Elevated Railroad at maturity. The mortgage prac- 
tically covers the entire property of the company. 

The Metropolitan Elevated Railroad first and second 
mortgages cover the Sixth Avenue and Second Avenue 
elevated roads, extending from South Ferry to the Harlem 
River, 18.08 miles of double track elevated railroad. Bonds 
are guaranteed by the Manhattan Railway Company. 

1897. 1896. 1895. 1894. 

Gross Earnings $9, 163.742 $9,256,932 $9,397,572 $10, 153,577 

Net Earnings 3.041,220 3.047.251 3.330,885 4.028.024 

Miscellaneous Receipts 180,277 232,522 287,134 311,678 

3,221,497 3,279,773 3,618,019 4.339.702 

^°'^"'* 1,886,846 2,161,675 2,095,972 2,004,555 

^^^ 2,500 

Dividends 1,500,000 1,800,000 1,800,000 1,800,000 

^"'P*"* def. 165,349 def. 681,903 def. 277,952 532,647 



RICHMOND COUNTY 



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STREET RAILWAYS OF GREATER NEW YORK. 



35 



STATEN ISLAND ELECTRIC RAILROAD. 



• 



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Chartered December ii, 1894. Acquired the franchises 
of the Staten Island Belt Railroad Company at foreclosure 
sale. Road at present extends from Port Richmond to 
South Beachvia St. George and Belt Line from Richmond 
Terrace to Tompkinsville, 11 miles of double track. From 
Port Richmond to Howlands Hook double track and from 
Brook Street, Silver Lake, single track, 3J miles; Castleton 
Avenue, 24 miles; Turnpike, 2 miles; Richmond Avenue, 
I mile. Total track, including sidings, 30 miles. Gauge, 
4 feet, Sj4 inches ; 84 to 90-lb. rail. Operated by elec- 
tricity. Company controls one-half the stock of the Rapid 
Transit Ferry Company, running between New York and 
Staten Island. Owns about twenty miles of additional 
franchises extending into the interior of the island. 



Par. Int. Outstanding. Maturity. 

Capital Stock $100 $1,250,000 

First Mortgage Gold Bonds 1,000 $% M. & N. 1,250,000 May i, X945 

Consolidated Mortgage Gold Bonds 1,000 $% M. & N. 750,000 May i, 1846 



First mortgage covers all the company's franchises and 
property and $260,000 stock of the New York Investment 
and Improvement Company, deposited with the trustee. The 
consolidated mortgage covers all the company's property 
and franchises, subject to the first mortgage, as well as the 
$260,000 stock of the New York Investment and Improve- 
ment Company. $1,250,000 of the consolidated mortgage 
bonds are reserved in the hands of the trustee to retire the 
first mortgage bonds at maturity. Total amount authorized, 
2,000,000. . : . 



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36 STREET RAILWAYS . 

FOR THE QUARTER ENDING MARCH 31, 1897. 

Gross Earnings $31,622 04 

Net Earnings 2,195 29 

Ii>te'«t 24,575 00 

I>eficit 22,878 41 



Directors: Samuel Thomas, T. F. Ryan, Walter G. Oak- 
man, Chas. R. Flint, Henry H. Rogers, H. 
D. Babcock. H. W. Poor, C. B. Van Nos- 
trand, G. B. M. Harvey. 



Officers 



President, G. B. M. Harvey ; Vice-President, 
H. W. Poor; Treasurer, C. B. Van Nos- 
trand ; Secretary, J. E. Comins. 
General Office, 32 Nassau Street, New York 
City. 



NEW YORK & STATEN ISLAND TRACTION 

COMPANY. 

Incorporated January, 1896, to construct railroads and 
ferries and to own stocks of railroads, ferry and land com- 
panies. Owns all the stock of the Staten Island Electric 
Railroad, the New Jersey & Staten Island Ferry Company 
and three-fifths of the stock of the New York & Staten 
Island Land Company. 

Capital Stock: Preferred authorized. . . .$1,250,000 Outstanding . . . .$1,250,000 
Common authorized 1,250,000 Outstanding 120,000 



Officers: President, G. B. M. Harvey ; Secretary, J. E. 

Comins. 



» ■ •,i..» 



OF greater new YORK. 



m 



STATEN ISLAND MIDLAND RAILROAD. 

Chartered December i, 1890. On April 7, 1890, pur- 
chased at foreclosure sale the property of the Richmond 
County Railroad. On August 19, 1895, company was re- 
organized without change of name. Electricity was 
adopted as motive power during 1896. Operates the 
line of the Staten Island Traction Company. Owns 27.15 
miles of track. Gauge 4 feet, 8^ inches, 65 to 90-lb. 
rail. Company owns Midland Beach, on the south side of 
Staten Island. 

Par. Int. Outstanding. Maturity. 

Dec., 192 1 



Outstanding 

Capital Stock $100 $1,000,000 

First Mortgage Gold Bonds.. i,ooo 5% J. & D. 1,000,000 



Mortgage covers all railroad, equipment, real estate, 
buildings, franchises, and all other property of the company 
now owned or hereafter acquired. After five years pro- 
vision is made for a sinking fund, but bonds cannot be 
drawn. Farmers* Loan and Trust Company, trustee. 



EARNINGS STATEN ISLAND MIDLAND RAILROAD FOR YEAR END- 
ING JUNE 30, 1897. 

Gross Earnings $65,910 16 

Operating Expenses (including taxes) 50,1 19 53 

Net Earnings $15,790 63 

EARNINGS FOR THREE MONTHS ENDING SEPTEMBER 30. 

Gross, 1897 $50,823 80 

Gross, 1896 19,057 61 

Increase $31,766 19 



38 



STREET RAILWAYS OF GREATER T^EW YORK. 



Directors : Robert Wetherill, Jas. C. Hinchliffe, W. B. 

Rockwell, B. H. Throop, M. J. Wightman, 
Wm. F. Hinchcliffe, Everett Warren, John 
Hinchcliffe. 

Officers: President, James C. Hinchliffe; Vice-Presi- 
dent, Benj. E. Throop, Secretary, E. G. 
Wightman; Treasurer and General Man- 
ager, W. B. Rockwell. 
General Office, Concord, Stapleton, N. Y. 



STATEN ISLAND TRACTION COMPANY. 

Chartered as the Port Richmond & Prohibition Park 
Electric Railroad Company. Changed its name on May 
I, 1895, by order of the Supreme Court. Owns 1.67 miles 
of track leased to the Staten Island Midland Railroad. 
Road in the hands of a Receiver. 



• 



BROOKLYN 



' 



maL 



• • 



i 



• 



* • 



• t»' 



• r» 



STREET RAILWAYS OF GREATER NEW YORK. 41 



BROOKLYN RAPID TRANSIT COMPANY. 

Chartered January i6, 1896, as successor to the Long 
Island Traction Company, whose property was sold under 
foreclosure. The company owns the stock of the Brooklyn, 
Queens County & Suburban Railroad and of the Brooklyn 
Heights Railroad Companies, the latter road operating the 
railroads of the Brooklyn City Railroad, under lease, in 
addition to its own line. The Brooklyn Rapid Transit 
Company is not an operating company, but derives its 
income from interest on invested funds, as follows : Interest 
on 1,921 Brooklyn, Queens County & Suburban first con- 
solidated mortgage bonds; interest from the Brooklyn 
Heights Railroad Company at 5 per cent, per annum on 
the amount of the Brooklyn Rapid Transit Company's 
equity in the construction account against the Brooklyn 
City Railroad Company, amounting on July i, 1897, to 
$3,248,065, and constantly increasing; interest on various 
loans, the net profits of the Brooklyn Heights Railroad 
Company, as lessee of the Brooklyn City Railroad Com- 
pany, and all dividends on the stock of the Brooklyn 
Heights and the Brooklyn, Queens County & Suburban 
Railroad Companies. 

Par. lot* 



Capital Stock $100 

First Mortgage Gold Bonds 

(Authorized $7,000,000) . 1,000 



Outstanding. Maturity. 
$20,000,000 

5% A. & O. 6,011,000 Oct. I, 1945 



The mortgage covers: (i) The stock of the Brooklyn 
Heights Railroad Company, amounting to $200,000, with 
the exception of thirteen shares on which the company has 
an option. The assets of the Brooklyn Heights Railroad 
Company are as follows: 1.18 miles of single track, with 






I '-"-f 



42 



STREET RAILWAYS 



real estate required for power-house, depot, terminal facili- 
ties, &c., subject to a first mortgage of $250,000. The 
property of the Brooklyn Heights Railroad Company, as 
lessee of the Brooklyn City Railroad, consists of 204 miles 
of single track and more than 1,750 cars and real estate, on 
which are power-houses, depots, shops, office buildings, &c., 
assessed at upwards of $2,300,000. (2) The mortgage also 
covers all the capital stock of the Brooklyn, Queens County 
& Suburban Railroad Company, amounting to $2,000,000, 
with the exception of sufficient shares to qualify directors, 
on which the company has an option. The Brooklyn, 
Queens County & Suburban owns 44.5 miles of single track, 
about 330 cars and real estate, on which are office building, 
car-houses, dock facilities, stables, shops. &c., valued at 
$450,000. (3) There is also included under the mortgage 
the ownership of the guarantee fund of $4,000,000, de- 
posited to secure the performance of the lease of the 
Brooklyn City Railroad Company to the Brooklyn Heights 
Railroad Company ; also all right, title and interest in the 
extensions and betterments made by the Brooklyn Heights 
Railroad Company as lessee of the Brooklyn City Railroad 
Company. Balance of issue is reserved for future require- 
ments of road. 

Directors : Clinton L. Rossiter, W. C. Bryant, Horace C. 

Duval, John D. Keiley, Timothy S. Wil- 
liams, John G. Jenkins, Theodore F. Jack- 
son, Anthony N. Brady, Henry Seibert, 
Seth L. Keeney, David H. Valentine, John 
Englis, C. D. Meneely. 

Officers: President, Clinton L. Rossiter; Vice-Presi- 
dent, Horace C. Du Val ; Secretary and 
Treasurer, T. S. Williams. 



4 
• ■ • 




-Lk. 



OF greater new YORK. 



4S 



BROOKLYN RAPID TRANSIT SYSTEM. 

Brooklyn Heights Railroad Company. 

Chartered April i, 1887. Operates by cable 1.18 miles 
of track. Since June 6, 1893, operates under lease for 999 
years the property of the Brooklyn City Railroad, an elec- 
tric road, the lessee paying all charges and 10 per cent, on 
stock of $12,000,000. 



Par. 

Capital Stock $100 

First Mortgage Bonds i,ooo 



Int. 



5^ A. & O. 



Outstanding. Maturity. 
$200,000 
250,000 April I, 194 1 



Mortgage covers 1.18 miles of track and real estate, on 
which are situated power-house, depot and other terminal 
property. 



EARNINGS FOR YEAR ENDING JUNE 30. 

1897- 1896. 

Operating expenses. ^.e.^jg g 

^^."'"i' • ..774.559 ..769.166 

Othermcome .jg,,^ 

Gross income 2 012 8ct • «X, -aT 

T-^ ,- ,^ 2,012,557 2,001,765 

Taxes and fixed charges ,,900,365 2,t44,875 

Balance-surpte „,,^, Oefi^,^ ^^ ,J* 



T 



•«rw> 



1' 



^jacaariama^/ijEj. 



H STREET RAILWAYS 

GENERAL BALANCE SHEET OF JUNE 30, 1897, 

Assets. 

Cost of road and equip- 
ment $465.41035 

Construction suspense. . . 143*119 93 Capital Stock 

Brooklyn City R. R. Funded Debt 

Construction a/c 3*277,59245 Brooklyn Rapid Transit 

Betterments 109,984 50 Company's equity in 

Surplus on hand 109,365 34 Brooklyn City Con- 
Open accoimts 201,769 73 struction account, pay- 
Insurance paid 909 31 able by Brooklyn City 

Cash on hand 315,846 24 Railroad Company at 

termination of lease ... 
Mortgage indebtedness.. 
Interest on funded and 
mortgaged debts due 

and accrued 

Interest annuities 

Due on open accounts . . 
Taxes accrued, not due. 
Rentals accrued, not due 
Profit and loss 

$4,623,997 85 



$200,000 00 
250,000 00 



3,248,065 75 
19,000 00 



3.445 82 
37.475 82 
233.580 41 
204,054 54 
303,896 43 
124,479 08 

$4,623,997 85 



BROOKLYN RAPID TRANSIT COMPANY SYS- 
TEM. 

Brooklyn City Railroad. 

. • . . . . . . ■ ' • 

Chartered December 19, 1853. Consolidation of various 
companies at different times. On February 14, 1893, was 
leased to the Brooklyn Heights Railroad for 999 years, 
lessee paying all fixed charges and 10 per cent, on stock of 
$12,000,000, payable quarterly. A guarantee fund of$4,ooo,- 
000 was deposited with trustee to secure fulfillment of terms 
of lease ; but no dividends are to be paid on Brooklyn 
Heights Railroad Company stock while fund is below $4,- 
000,000. Bonds held in the guarantee fund July i, 1897, 







OF GREATER NEW YORK. 



45 



were $1,627,000. First consolidated mortgage bonds of the 
Brooklyn City Railroad Company valued at $1,871,050 and 
$2,000,000 first mortgage bonds of the Brooklyn, Queens 
County and Suburban Railroad Company valued at $2,100,. 
000. If lease should be terminated at any time the lessor 
is to pay the lessee on appraisal any money expended for 
betterments. 

Par. Int. Outstanding. Maturity. 

Capital stock $100 10^ quar. $12,000,000 

First Consolidated Mortgage 

Bonds J500&) 

li,ooof5^J.&J. 
First Mortgage Brooklyn 

Crosstown Railroad i, 000 5^ J. & J. 

First Mortgage Calvary Cem- 
etery, Green point & 

Brooklyn Railroad 1,000 6% J, & D. 

First Mortgage New Wil- 

liamsburg & Flatbush 

Railroad... 1,000 4j9^F.&A. 200,000 July. 1941 

First Mortgage Greenpoint 

& Lorimer 1,000 6%M.&N. 

First Mortgage Grand Street 

& Newtpwn Railroad 1,000 5%* A. & O. 






6,000,000 July I, 1941 
200,000 July I, 1908 

200,000 June, 1907 



125,000 May I, 1910 
200,000 1906 



Company owns 201 miles of track in Brooklyn, extending 
to East New York and Queens County. Gauge 4 feet 8^ 
inches ; 90 lb. and 94-lb. rail. 

The consolidated mortgage bonds are subject to call in 
1916. Mortgage is a first lien on the lines of the original 
Brooklyn City Railroad, 93.25 miles, and a second lien on 
the lines of the consolidated companies. Earnings are in- 
eluded in report of Brooklyn Heights Railroad Company. 

The Brooklyn Crosstown Railroad mortgage covers all 
the franchises, privileges, rights, railroad, equipment, real 
estate and buildings of the old Brooklyn Crosstown Rail- 
road. The railroad covered consists of about ten miles ol 
track. 



46 



STREET RAILWAYS 



The Calvary Cemetery, Greenpoint & Brooklyn Rail- 
road mortgage covers all the property formerly owned by 
that company. The company owned about six miles of 
track with necessary real estate, buildings, equipment, &c. 

The Greenpoint & Lorimer mortgage covers all prop- 
erty formerly belonging to that company, about five and 
one-half miles of track, and all equipment, franchises, &c. 

The Grand Street & Newtown Railroad mortgage cov- 
ers all the property formerly belonging to that company, 
with the exception of certain real estate in the Town of 
Newtown. The company owned about thirteen miles of 
track, with equipment, &c. ' 



BROOKLYN RAPID TRANSIT SYSTEM. 

Brooklyn, Queens County & Suburban Railroad. 

Chartered November 25, 1893. In January, 1894, was 
consolidated with the Broadway Railroad Company, the 
Broadway Ferry & Metropolitan Avenue Railroad and the 
Jamaica & Brooklyn Road. Owns and operates 44.94 miles 
of track, extending to East New York, Cypress Hills and 
Jamaica. Gauge 4 feet, 8^ inches ; 45 to 94-ib. rail. 
Stock all owned by Brooklyn Rapid Transit Company. 

Par. Int. Outstanding. Maturity. 

Capital Stock $ioo $2,000,000 

First Mortgage Gold Bonds. . 1,000 5J. &J. 3,500,000 July, 1941. 

First Consolidated Mortgage . 

Gold Bonds (authorized ■ " 

♦4,500,000) 1,000 5 M. & N. 2,750,000 July, 1941. 

Jamaica & Brooklyn Koad 

First Mortgage assumed. . . 1,000 5 J. & J. 240,000 January I, 1930. 



J^J 



OF GREATER NEW YORK. 



47 



The first mortgage bonds are secured by a first lien 
on railroad, equipment, franchises, real estate and 
all property of the company now owned, with the exception 
of twelve miles of track of the Jamaica & Brooklyn Road, 
on which they are subject to the Jamaica & Brooklyn first 
mortgage for $240,000, and certain real estate situated in 
the town of Jamaica, likewise subject to the Jamaica & 
Brooklyn mortgage. 

The Jamaica & Brooklyn first mortgage covers that part 
of the road extending from East New York to Jamaica, 
twelve miles of track, with fee of land and certain real estate 
in the Town of Jamaica. All real estate of the Brooklyn, 
Queens County & Suburban Railroad not required for 
the operation of the road ma}'^ be released from the lien of 
the first mortgage at the discretion of the trustee, and sold, 
and proceeds of said sale applied to the acquisition of the 
Jamaica & Brooklyn first mortgage bonds at a price satis- 
factory to the trustee. 

The consolidated mortgage covers the entire property of 
the company, subject to prior liens, and is to be a first lien 
upon all extensions. The bonds secured by the first mort- 
gage and the consolidated mortgage are subject to call on 
July I, 1 91 6, at par and interest. $250,000 of consolidated 
mortgage bonds are in company's treasury. 



EARNINGS FOR THE YEAR ENDING JUNE 30. 

' 1897. 1896. 

Gross earnings $730,27667 $684,94612 

Operating expenses 437.5^2 33 451*129 84 

Net earnings 292,774 34 233,816 28 

Other income 9>382 46 18,017 49 

Gross income.. 302,15680 251,83377 

Taxes and fixed charges 357.272 97 345>56i 38 

Balance. Deficit, 55, 116 17 Deficit, 93,727 61 



n»li«i«^i> '■•■IjiiikM' 



"Hwa* 



48 



STREET RAILWAYS 



GENERAL BALANCE SHEET OF JUNE 30, 1897. 



Assets. 
Cost of road and equip- 
ment $8,380,989 71 

Treasury bonds 250,000 00 



Open accounts. 

Supplies on band 

Betterments 

Sundries 

Casb on band 

Profit and loss Deficit 



28,083 62 

'.539 59 

10.343 "7 
4,210 86 

70.573 61 
366,635 22 



»9."2.37S 78 



Liabilities. 

Capital stock $2,000,000 

Funded debt 6,490,000 

Interest on funded debt 

due and accrued IH'33 33 

Coupon account 48400 00 

Loans 395,000 00 

Accounts payable 64,642 45 



»9. "2.375 78 



OF GREATER NEW YORK. 
EARNINGS FOR YEAR ENDING JUNE 30. 

1897. 

Gross Eamingrs $5i9«374 

Net Earnings 196, 106 

Otber Income ,. . . 15,943 

Interest on Bonds 99i520 

Taxes 22,396 

Rentals, etc 9.49' 

Surplus 80,642 



GENERAL BALANCE SHEET, JUNE 30, 1897. 



49 



1896. 

$551,388 

214.541 

14.153 
98,012 

22,055 

9.580 

99.048 



BROOKLYN CITY AND NEWTOWN RAILROAD. 

Chartered May 22, i860. Electricity adopted as motive 
power in 1893. Owns 18.75 ^iles of track. Gauge 4 feet 
8^ inches; (^ to 98-lb. rail. 



Int. Outstanding. Maturity. 



Par. 

Capital stock $ioo 

First Mortgage Bonds i,ooo 5% J- & J 

Real Estate Mortgages, 1897. . 

1894. 1895. 

Dividends paid \\% 11^ 

February. May. 

Dividends paid in 1897 \\% \\^ 



$1,000,000 

2,000,000 July I, 1939 
191,606 

1896. 

10% 
August. 



In August, 1897, an additional issue of $1,000,000 capital 
stock was authorized to acquire a controlling interest in 
the Coney Island & Brooklyn Railroad. Both roads to be 
operated as one in future. 

The first mortgage covers all railroad, equipment, real 
estate and improvements thereon, franchises, leases and all 
other property now owned or hereafter acquired. Mer- 
cantile Trust Co., trustee. 



/ 



Assets. 

Cost of road and equip- 
ment $3,261,743 

Permanent Investments 9>37 1 

Supplies on hand I3«356 

Accrued Interest 99>520 

Due on open Accounts .... 15*863 

Cash on hand 59 745 

♦3,459.598 



Liabilities. 

Capital Stock $1,000,000 

Funded Debt 2,000,000 

Loans 1,000 

Interest on Funded Debt . . . 50,000 

Open Account, etc 44*244 

Mortgage on Real Estate. . . 191,606 

Profit and Loss 172,748 

♦3.459,598 



Directors: John N. Partridge, Thomas Ennis, John L. 

Heins, Thomas Clark, Jr., Louis Fitzgerald, 

Henry B. Hyde, Alfred WagstaflF. 
Officers: President, John L. Heins; Vice-President, 

Louis Fitzgerald ; Secretary and Treasurer, 

Duncan B. Cannon. 

General Office, 120 Broadway, New York. 

Executive Office, DeKalb and Central 

Avenues, Brooklyn. 



■I 



50 



STREET RAILWAYS 



OF GREATER NEW YORK. 



51 



CONEY ISLAND & BROOKLYN RAILROAD. 

Chartered December lo, i860. Purchased the Prospect 
Park & Flatbush Railroad in April, 1891. Electricity 
adopted as motive power in 1890. Owns 25 miles of track, 
extending from Brooklyn to Coney Island, with branches. 
Cars will be run over Brooklyn Bridge. Control of stock 
obtained by Brooklyn City & Newtown Railroad in July, 
1897. Gauge, 4 feet Sj4 inches ; 60 to 90-lb. rail. 



Par. 

Capital Stock $ioo 

First mortgage bonds i,ooo 

Certificates of Indebtedness, i , ooo 



Interest. Outstanding. Maturity. 



6% quarter. 
5%J.&J. 
5% J.&J. 



$1,000,000 
300,000 
400,000 



Jan. I, 1904 
Jan. I, 1910 



$1,500,000 mortgage bonds authorized 1897, of which 
$700,000 are to be reserved to retire prior issues. 



1894. 

Dividends paid 5^ 

Dividends paid 1897, Jan., 1^% 



1895. 

^% 
April, H% 



1896. 

5% 
July. H% 



The first mortgage covers all railroad, equipment, 
franchises, rights, real estate, except the Coney Island 
property of the Company, and all other property now 
owned or hereafter acquired. Brooklyn Trust Company is 
trustee. 

EARNINGS FOR THE YEAR ENDING JUNE 30. 

1897. 1896. 

Gross Earnings $337,273 $363,947 

NetEamings 104,596 139,648 

Other Income 2,190 3.269 

Interest, Taxes, etc 52,669 55.^9 

Balance 54»ii7 87,018 

Dividends paid 60,000 70,000 



y 



KINGS COUNTY TRACTION COMPANY. 

Incorporated in March, 1896, and purchased the assets of 
the Brooklyn Traction Company, consisting of the entire 
capital stock of the Atlantic Avenue Railroad Company 
and of the Brooklyn, Bath & West End Railroad Company. 
In 1896 the Atlantic Avenue and Brooklyn, Bath & West 
End lines were leased to the Nassau Electric Railroad for 
969 years at a rental of $150,000 for the first two years and 
$180,000 thereafter, the lessee to pay all charges and to 
spend $500,000 in improvements. Consequently the com- 
pany is not an operating company, but merely receives 
the rental from the Nassau Electric Railroad Company and 
distributes it to the stockholders of the Traction Company. 

Capital Stock $4,500,000 

Dividends i per cent, each were paid January 25 and 
July 26, 1897. 



LONG ISLAND ELECTRIC RAILWAY. 

Incorporated March, I894. Road extends from terminus 
of Kings County Elevated Railroad to Jamaica, Queens and 
Far Rockaway. 24 miles of track. 

Par. Int. Outstanding. Maturity. 



Capital Stock (Authorized 

$600,000) $100 

First Mortgage Gold Bonds 

(Authorized $600,000).. 1,000 



$280,000 
$% J. & D. $220,000 June I, 1925 



The mortgage covers all railroad, equipment, leases, 
rights, privileges, franchises, real estate and all other prop- 
erty now owned or hereafter acquired. Hamilton Trust 
Company, trustee. 



T 



-«<x^ 



v;w 



T 



52 STREET RAILWAYS 

EARNINGS FOR THREE MONTHS ENDING JUNE 30, 1897. 

Gross Earnings $10,694 

Net Earnings l»792 

Fixed Charges 2,100 

Deficit 308 

Loans and Bills Payable I3» 124 

Officers : President, A. R. Hart ; Treasurer, A. G. Green- 
berg. 






NASSAU ELECTRIC RAILROAD. 

Chartered March 13, 1893. Organized to build about 
103 miles of road, of which 68 miles are now completed and 
in operation. The company has succeeded to the franchises 
of the Kings County Electric, Coney Island, Fort Hamil- 
ton & Brooklyn and Union Street Railroad Companies. On 
March 4, 1896, leased the Atlantic Avenue and the Brook- 
lyn, Bath & West End Railroad for 969 years (for rental see 
Kings County Traction Company). The company likewise 
has an option on the capital stock of the Atlantic Avenue 
Railroad. System is operated by electricity. Gauge, 4 
feet 8^ inches ; 90 to 93-lb. rail. 

Par. Int Outstanding. Maturity. 

Capital Stock $100 $6,000,000 

First Mortgage Gold Bonds 

(Authorized $6,000,000). 1,000 $% A. & O. 4,849,000 Apl. i, 1944 

The mortgage coyers all railroad, equipment, real estate, 
betterments, franchises, leases, rights and all property of 
every description now owned or hereafter acquired. Ham- 
ilton Trust Company, trustee. 



/ 



OF GREATER NEW YORK. 

EARNINGS FOR YEAR ENDING JUNE 30TH. 

1897. 

Gross Earnings $1,760,560 

Operating Expenses 1,045,364 

Net Earnings 7I5»>96 

Other Income 64,712 

Total Income 779.9o8 

Fixed Charges 709f3>o 

Surplus 70.598 



53 



1896. 

$715,942 

439.903 
276,039 

18925 
294,964 

238,714 
56,250 



Directors : Albert L. Johnson, A. J. Moxham, J. M. Ed- 
wards, Tom L. Johnson, P. H. Flynn, F. C. 
Cohen, S. B. Butcher, W. F. Ham, F. S- 
Drake. 



Officers : 



President, A. L. Johnson; Secretary, W. F. 

Ham ; Treasurer, Tom L. Johnson ; Genl. 

Supt., F. S. Drake. 
Office, 268 Twenty-third Street, Brooklyn, 

N. Y. 



NASSAU ELECTRIC SYSTEM. 

Atlantic Avenue Railroad. 

Chartered May i, 1872. Owns the capital stock of the 
South Brooklyn Central Railroad ; also the right, franchises 
road and equipment of the city division of the Prospect 
Park & Coney Island Railroad, and a controlling interest 
in the Brooklyn, Bath & West End Railroad. Road was 
leased to the Nassau Electric Railroad on March 4, 1896 
(for lease see Kings County Traction Co.). Owns 42.62 



'^^^H'wi's^mmiif 



54 STREET RAILWAYS 

miles of track. Guage 4 feet, S}4 inches. 47 to 90-lb. rail. 
Entire capital stock owned by Kings County Traction 
Company. 

Par. Interest. Outstanding. Maturity. 

Capital Stock $50 $2,000,000 

General Mortgage Bonds 1,000 5% A. & O. 759,000 Oct. i, 1909 

Consolidated Mortgage Gold 
Bonds (authorized $3,000,- 

000) i.ooo 5%A.&0. 2,241,000 Oct. I, 1931 

Imp. Mortgage Gold Bonds 1,000 5% J. & J. 1,500.000 Jan. i, 1934 

Real Estate Mortgages 212,500 

The consolidated and improvement mortgages both cover 
all the road operated as well as gj4 miles of double track 
steam road leased to the Long Island Railroad, lying in 
Atlantic Avenue, east of Flatbush Avenue, in Brooklyn, to 
Jamaica. Consolidated mortgage bonds are reserved to 
retire the general mortgage bonds at maturity. The im- 
provement mortgage bonds were issued in 1893 to fund the 
floating debt created by change of motive power and other 
betterments. 

The general mortgage covers all railroad, equipment, 
real estate, franchises, leases, buildings, and all other prop- 
erty. Any real estate not necessary for the operation of 
the road may be released from the lien at the discretion of 
the trustee and sold. Proceeds of such sale not used for 
the purchase of new lands or in construction or for equip- 
ment are to be applied to the purchase of general mortgage 
bonds in the open market. Brooklyn Trust Co., trustee. 




OF GREATER NEW YORK. 



55 



NASSAU ELECTRIC SYSTEM. 

Brooklyn, Bath & West End Railroad. 

Reorganization in December, 1895, of the Brooklyn, Bath 
' & Coney Island Railroad. In 1893 adopted electricity as 
motive power. On March 4, 1896, leased to the Nassau 
Electric Railroad Company for 969 years (for lease see 
Kings County Traction Co.). Owns 17.07 miles of track. 
Leases 2.5 miles. Total operated, 19.57. Road extends 
from 36th Street via Bensonhurst to Coney Island. Gauge 
4 feet, 8J^ inches ; 50 to 56-lb. rail. 

Par. Interest Outstanding. Maturity. 

Capital Stock ;... $ioo $1,000,000 

First Mortgage, Series A...... 1,000 $%]•&]. 250,000 Jan. i, 1907 

First Mortgage, Series B 1,000 5%" A. & O. 250,000 Jan. i, 1916 

Second Mortgage (authorized 

$100,000) 1,000 5%'J. &D. 52.000 June I, 191 1 

General Mortgage (authorized 

$1,000,060) 1,000 5%'A. &0. 448,000 Oct., 1933 

Real Estate Mortgage 23, 100 

Bonds are guaranteed by the Atlantic Avenue Railroads 
First mortgage bonds, Series A and B, are redeemable in 
1897. 

First mortgage bonds, Series A and B,are secured by the 
same mortgage for $500,000. Series A are to be a first 
lien, however, and Series B a second lien. Mortgage 
covers all property, real and personal, including railroad, 
franchises, equipment, etc. 

The second mortgage covers all the property covered by 
the first mortgage and bonds are redeemable after five 
years. 

The general mortgage covers all railroad, equipment, 
franchises, and all other property now owned or hereafter 



• 



ir^v i^^^ 4*1* 



'jg .A ^^*>'r*r' 



ilWi i M i i 



r 



56 



STREET RAILWAYS 



acquired, with the exception of certain pieces of real estate. 
Sufficient general mortgage bonds are reserved to retire 
prior issues. 



VAN BRUNT STREET & ERIE BASIN RAILROAD. 

Chartered February 15, :86i. Operates 3 miles of track. 
A horse road, 4 feet, 8^ inches gauge ; 45.1b. rail. 

Par. Interest Outstanding. Maturity. 

Capital Stock $10 $200,000 

First Mortgage Bonds 6^^ A. & O. 25.000 April i, 1902 

The mortgage covers all railroads, equipment, fran- 
chises, real estate, buildings, and all other property now 
owned or hereafter acquired. Bonds were redeemable at 
option of company in 1887. 

Directors; Michael Murphy, Wyllys Terry, Joseph 

White, Michael J. CoflFee, David W. Binns, 
Thos. J. Cunningham, John F. Murphy. 

Officers; President, Michael Murphy; Secretary and 

Treasurer, Wyllys Terry. 
OflBce, 264 Van Brunt Street, Brooklyn. 



BROOKLYN CABLE COMPANY. 

Chartered November 10, 1886. Built a double track 
cable road on Park Avenue, 3.75 miles of track. Proposed 
to extend to Evergreen Cemetery, and claims that Atlantic 
Avenue Railroad agreed to obtain right of way. This was 
not done and Cable Company is suing the Atlantic Avenue 
Railroad Company for breach of contract In the mean- 



f 



>p 




OF greater new YORK. 



57 



time, constructed portion of road is operated by electricity 
by the Atlantic Avenue Railroad Company as part of its 
system. 

Par. Interest. Outstanding. 

CapiUl Stock .*.. $300,000 

First Mortgage Bonds |i,ooo 65i^M&S. 150,000 

Suit for foreclosure of mortgage was brought in Decem- 
ber, 1894, and litigation is still in progress. Mortgage 
covers all the property of the company, including real 
estate and franchises. 



BROOKLYN ELEVATED RAILROAD. 

Chartered May 26, 1894. Consolidated October 27, 1890, 
with the Union Elevated Railroad. Owns 16.91 miles of 
double track elevated railroad. Leases the Seaside & 
Brooklyn Bridge Elevated Railroad, 3.17 miles of double 
track road. Operates in all by steam 20.08 miles. Gauge 
4 feet 8J inches, 60 to 85-lb. rail. On March 25, 1897, com- 
pany was placed in the hands of a Receiver. The re- 
organization plan provides for the foreclosure of the Brook- 
lyn, the Union and the Seaside & Brooklyn Bridge mort- 
gages, and the transfer of the properties to a new company 
capitalized as follows : 

Par. Interest. Outstanding. Maturity. 

Common Stock.. $13,000,000 

Preferred Stock, $% non-cum. . 5,000,000 

First Mortgage Gold Bonds. ... A&5% 16,000,000 1950 

semi-annually 

Bonds to bear interest at 4 per cent, until 1905 and 5 per 
cent, thereafter. Mortgage to cover all the franchises of 
the company and all property now owned or hereafter 
acquired. 



68 STREET RAILWAYS 

Under the plan the former security holders are to receive 
as follows : 

For each— Cash. New ist. Mtg. Pfd. Stock. Com. Stock. 

Brooklyn Elevated First Mort- 

gage $i,ooo Bond $2cv $i,ooo 200 

Union Elevated First Mortgage 

$1,000 Bond 20 1,000 •• ■ 200 

Seaside Elevated First Mortgage 

$1,000 Bond (paying $100 

assessment) 20 1,000 $100 

Brooklyn Elevated Second Mort- 
gage $1,000 Bond (paying 

$200 assessment) 14 700 500 

Union Elevated Second Mortgage 

$1,000 Bond (paying $100 

assessment) 600 500 

Brooklyn Elevated Stock (paying 

$10 assessment) 10 . ye 

Pending reorganization, $20 cash will be paid for each 
coupon of the Brooklyn Union & Seaside First Mortgage 
bonds, maturing after April, 1897. $14 cash will be paid 
for coupons of the second mortgage bonds of the Brooklyn 
Elevated Railroad. The cash assessments aggregate 
$1,921,506, and are to be paid as called for by the reorgani- 
zation committee. By this arrangement only $11,890,000 
first mortgage bonds will be required, the interest on which 
at 4 per cent, amounts to $475,600. The taxes are estimated 
at $108,000, making total fixed charges of $583,600 against 
former fixed charges of $882,083. Capitalization of the 
Company before reorganization : 

Par. Interest. Outstanding. Maturity. 

Common Stock $100 $13,283,600 

First Mortgage Gold Bonds 1,000 6%'A.&0. 3,500,000 Oct I, 1924 

Second Mortgage Gold Bonds. . i,coo SXJ- & J* 1,250,000 July i, 1915 
Union Elevated Bonds assumed : 

First Mortgage Gold Bonds 1,000 6% M. & N. 6, 150,000 May 1, 1937 

Second Mortgage,including non- 
cumulative. . . 1,000 5XJ«&J» 2,068,000 Jan. I, 1927 

Guaranteed Bonds: 

Seaside and B. B. First Mort. 

gage S>i>J-&J- 1,365,000 Julyi, 1942 



OF GREATER NEW YORK. 

EARNINGS FOR THE YEAR ENDING JUNE 30. 

1897. 

Gross Earnings $1,669,583 

Operating Expenses I,03S,I70 

Net Earnings 634,413 

Fixed Charges 882,955 

Deficit ; 248, 542 



59 



1896. 

$1,861,758 
1,102,207 

759*551 
860,276 

100,725 



Municipal taxes for 1895 and 1896 have not been paid; 
but are being contested in the courts. More than 80 per 
cent, of the old securities were deposited under the reor- 
ganization plan, and the plan is now being put into effect. 

Reorganization Committee : F. P. Olcott, J. N. Wal- 
lace, A. H. Joline, James T. Woodward, Chas. 
Parsons, Ernst Thalman, Leonard Lewisohn. 
Receiver, Fred'k Uhlman. 



BROOKLYN ELEVATED RAILROAD SYSTEM, 

Seaside & Brooklyn Bridge Elevated Railroad. 

Chartered in 1890 to build extensions to the Brooklyn 
Elevated Railroad. Owns 3.17 miles of double track leased 
to the Brooklyn Elevated Railroad. 

Pftr. Interest Outstanding. Maturity. 

Capital Stock $100 $1,000,000 

First Mortgage Bonds 1,000 $%].&]. 1,365,000 July, 1942 

Included in reorganization plan given under Brooklyn 
Elevated Railroad. 



JIHT" 



60 STREET RAILWAYS 



KINGS COUNTY ELEVATED RAILROAD. 

Chartered January 6, 1879. I" May, 1895, absorbed the 
Fulton Elevated Railway Company. Leases part of the 
Brooklyn & Brighton Beach Railroad, about 3.5 miles, and 
operates through trains between Brooklyn Bridge and 
Brighton Beach. On August 31, 1896, road was placed in 
the hands of a receiver and company is now being reorganized. 
Road extends through Fulton Street to new City line. 21.72 
miles of track. Gauge, 4 feet 8 J inches; 60 to 70-lb. rail. 
Electricity is to be adopted as motive power and cars are 
to be run over Brooklyn Bridge. 

Par. Interest. Outstanding. Maturity. 

Capital Stock $100 $4,750,000 

First Mortgage Gold Bonds. 1,000 6% J. & J. 200,000 Jan. I, 1925 

First Mortgage Gold Bonds.. i,ooo $%].&]. 3,231,000 Jan. 1,1925 
Fulton Elevated, First Mort- 

gage "A" 1,000 $%M.&S. 2,543,000 Mch. i, 1929 

Kings County Elevated, Sec- 
ond Mortage Collateral 
Trust Income — 

"A"— $1,000,000 Inc., cum 6% 996.000 Apl. i, 1938 

** B " Inc., cum 6% 453^000 Apl. i, 1938 

Income Debentures, non.cum 6% 3,274,500 Apl. i, 1938 

Car Trusts— 14,000 each 6% F. & A 24,000 1898-1903 

Second Mortgage 1,000 5%A. &0. 258,000 Apl. i, 1938 

Funded Coupon Scrip 6j^Apl. ist 8,550 Apl. I, 1900 

The first mortgage originally provided for an issue of 6 
per cent, currency bonds, but the rate was changed to 5 per 
cent., principal and interest payable in gold. The second 
mortgage coupons accruing from April i, 1890, to October 
I, 1892, inclusive, were funded into ten year coupon scrip, 
due 1900. In 1893 the company decided to convert the 
second mortgage bonds and one year's interest thereon into 



1 



OF GREATER NEW YORK. 



61 



6 per cent, non-cumulative income debentures, and its 
coupon scrip and six months' interest thereon into 6 per 
cent, cumulative second mortgage collateral trust income 
bonds, series '* B," and to create a 6 per cent, cumulative 
second mortgage collateral trust bond, series " A," having 
priority over series** B," with which to pay off the floating 
debt and for future needs. The collateral trust bonds are se- 
cured by a deposit of $3, 11 5,000 of the old second mortgage 
bonds, and are a second lien upon all the property, includ- 
ing the Fulton Elevated. 



KINGS .COUNTY ELEVATED RAILWAY— GENERAL BALANCE 

SHEET, JUNE 30. 

Assets. 1897. 1896. 

Cost of Road and Equipment $14*777.332 $14,675,776 

Supplies on hand 24,111 19,668 

Stocks and Bonds of other Companies. 544.25© 360.500 

Due by Companies and Individuals 250,340 117.136 

Cash on hand 4.7>8 88,300 

Second Mortgage Bond Subscription 63,200 63,200 

Deferred Interest on Second Mortgage, funded 689,557 689,557 

Profit and Loss Deficit 332.291 128,283 

Total Assets $16,685,799 $16,142,420 

Liabilities. 

Capital Stock— Common $4,750,000 $4,750,000 

Funded Debt - 10,965,112 10,692,689 

Equipment Lease Warrants 29,040 34. 720 

Loans and Bills Payable 217,500 223,700 

Interest on Bonds Due and Accrued 346,041 132,216 

Due for Wages and Supplies 63,064 64, 185 

Open Accounts 121,228 14,810 

Mortgage on Real Estate 38,500 38,500 

Interest on Second Mortgage Bonds 36,796 39,220 

Accrued Taxes and Miscellaneous 1 18,518 I5'»505 

Subscription for Second Mortgage Income 

Bonds 875 

Total Liabilities $16,685,799 $16, 142,420 



62 



STREET RAILWAYS OF GREATER NEW YORK. 



KINGS COUNTY ELEVATED RAILWAY— EARNINGS FOR YEAR 

ENDING JUNE 30. 



1897. 

Gross Earnings '. $725,312 

Operating Expenses 549*832 

Net Earnings 175,480 

Other Income 17.562 

Net Income 193,042 

Fixed Charges 392,805 

Deficit I99>763 

« 



1896. 

♦767,337 

512,752 

254,585 
14,600 

269,185 

365.231 

96,046 



LONG ISLAND CITY. 



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STREET RAILWAYS OF GREATER NEW YORK. 05 



STREET RAILWAYS IN LONG ISLAND CITY. 

New York & Queens County Railway. 

Incorporated June 26, 1896. Organized for the purpose 
of acquiring the property and franchises of the Long 
Island City & Newtown Railroad, which was sold under 
foreclosure, also the capital stock of the Steinway Railway 
Company, the Newtown Railway Company, the Riker 
Avenue and Sandford's Point Railway Company and the 
Flushing & College Point Electric Railway, and to merge 
them into the New York & Queens County Railway Com- 
pany. The company now operates these roads, forming 
the entire street railroad system of Long Island City, with 
branches to Middle Village, Flushing and College Point, 
about 60 miles of track altogether. The Electric Illumin- 
ating & Power Company likewise is owned by the New 
York & Queens County Railway, the net earnings from 
that source amounting to about $30,000 per annum. 

Par. Interest. Outstanding. Maturity. 

Capital Stock (authorized 

$2,500,000) $100 $2,000,000 

First Con. Mortgage Gold 

Bonds, authorized $4,- 

200,000 1,000 s^A. &0. 2,000,000 1946 

First Mortgage Flushing & 

College Point 1.000 5%J. &D. 50,000 I9»S 

First Mortgage Newtown 

Railway 1,000 5%J.&D. 150,000 Dec., 1924 

First Mortgage Steinway 

Railway. Gold 1,000 6%J. &J. 1,500,000 July i. 1922 

$1,700,000 of the first consolidated mortgage bonds are 
reserved to retire prior liens and $500,000 are reserved for 
equipment and extensions. 




Ml 



i 



^ STREET RAILWAYS 

EARNINGS FOR THE YEAR ENDING JUNE 30, 1897. 

Gross Earnings $404,459 

Operating Expenses 232,407 

Net Earnings 172,052 

Other Income 69,543 

Total Income 241,595 

Fixed Charges 215,947 

Surplus 25,648 



The New York & Queens County consolidated mort- 
gage covers all railroad, equipment, real estate, buildings, 
&c., subject to prior liens of constituent companies on 
forty-five miles of track, as well as franchises, privileges 
and all other property now owned or hereafter acquired. 
Sufficient bonds are reserved to retire the prior liens at 
maturity; but in the meantime the company is not to 
assume or to become liable for them. 

The Steinway Railroad first mortgage covers thirty-two 
miles of railroad, equipment, franchises, leases and all 
other property of every description belonging to the Stein- 
way Railway Company. 

The Newtown Railway bonds are secured by a first 
mortgage on all railroad, about 8.75 miles of track, equip- 
ment, real estate, buildings, franchises, &c., of the New- 
town Railway Company. The real estate consists of one 
lot in the town of Corona and two lots in the town of 
Newtown. 

The Flushing & College Point mortgage covers all rail- 
road, about 4.25 miles of track, extending from Flushing 
to College Point, equipment, real estate, buildings, fran- 
chises, privileges, &c., of the Company. The mortgage 
authorized an issue of fifty preference bonds, numbered 
from one to fifty, and seventy- five ordinary bonds, num 
bered from fifty-one to one hundred and twenty-five. 
Preference bonds to bear interest at the rate of five per 



OF GREATER NEW YORK. 



«?; 



cent, per annum, and to have a first lien, to remain until 
company has for three successive years paid out of its net 
earnings interest at the rate of five per cent, per annum 
upon both preference and ordinary bonds, whereupon all 
preference of lien shall cease, and all bonds are to be en- 
titled to the same interest and same security under the 
mortgage. Up to the present time only the preference 
bonds have been issued. From July, 1894, to April, 1895, 
the road was in the hands of a Receiver. 



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DEALERS IN 



High -Grade Investment Securities, 



MEMBERS OF 



NEW YORK AND PHIUDELPHIA STOCK EXCHANGES, 



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SPECIALISTS IN 



STREET RAILWAY SECURITIES 



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41 Wall Street, 



NEW YORK. 



429 Chestnut Street, 



PHILADELPHIA. 




.nM3Ai;»Uit3 



GAYLAMOUNT 

PAMPHLET ■NDa 



■6AYLOR0BROS.IM. 
Sfneu—, N. Y. 



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COLUMBIA UNIVERSITY LIBRARIES 

This book is due on the date indicated below, or at the 
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