Mundy's Earning Power of Railroads Volume 17, PT. 1922 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 Excerpt: ...pro rata. The following dividends have been paid annually since 1908: '08 '09-'10 '11 '12 '13-'14 '15 '16 '17 '18 '19-'21 Preferred %. 6 6 66 6 6666 6 Common %.. 44 4 5 SlA 6 4565 4 The dividends are paid semi-annually, February and August. FORMER OWNERSHIP OF COAL PROPERTIES. For a number of years the treasury assets included all except directors' shares of the Rochester & Pittsburgh Coal & Iron Co.'s stock (capital $4,000,000). In 1906-07 this stock was sold to the Mahoning Investment Co., capital $4,200,000, the shares of which were distributed in December, 1906, among the holders of the preferred and common stock of the Buffalo, Rochester & Pittsburgh Ry., in the proportion of 25% of the respective holdings of each stockholder. IMPROVEMENTS, ETC. Appropriations from surplus earnings for improvements, construction and equipment, have been made as follows: Year 1901-2 $583,562 Year 1912-13 $448,796 Year 1902-3 950,749 Year 1913-14 348,352 Year 1903-4 497,389 Year 1914-15 111,211 Year 1905-6 394,142 Year 1915-16 646,594 Year 1906-7 308,748 Year 1916 858,391 Year 1909-10 315,000 Year 1917 644,354 Year 1910-11 371,500 Year 1918 600 Year 1911-12 375,000 Year 1919-21 None $56899 of the appropriation for 1917 was used to retire equipment bonds, and the balance used to purchase new equipment. Prior to July 1, 1908, $3,500,000 common stock had been sold to stockholders at par and the greater part of the proceeds used to pay for the construction of 63 miles of road. On May 1, 1907, a new Consolidated Mortgage was created to secure $35,000,000 50-year 44% bonds. Of these bonds, $3,000,000 were issued immediately, $18,145,000 were reserved for retirement of underlying obligations and the balance reserved for the future wants of the company, to be issued ...