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REDONDO RAILWAY COMPANY.

Narrow gauge.
Termini, Los Angeles to Redondo Beach.
Proposed length, 20 miles.
Capital stock, $500,000.
Articles filed April 1, 1889.

SAN DIEGO AND NORTHEASTERN RAILWAY COMPANY.

Standard gauge:
Termini, San Diego to Escondido.
Proposed length, 40 miles.
Capital stock, $1,000,000.

Articles filed April 2, 1889.
Los ANGELES AND HUENEME RAILROAD COMPANY.

Standard gauge.
Termini, Los Angeles to Pacific Ocean at or near the Port of Hueneme.
Proposed length, 70 miles.
Capital stock, $2,000,000.
Articles filed April 5, 1889.

FRESNO AND PINE Ridge RAILROAD COMPANY.

Gauge (not stated).
Termini, City of Fresno to Pine Ridge, in Fresno County.
Proposed length, 60 miles.
Capital stock, $600,000.
Articles filed April 22, 1889.

SANTA ANA RAILROAD.

Gauge (not stated).
Termini, Santa Ana to Pacific Ocean at Newport Beach.
Proposed length, 10 miles.
Capital stock, $250,000.
Articles filed April 23, 1889.

Los ANGELES, SAN DIEGO, AND YUMA RAILWAY COMPANY.

Standard gauge.
Termini, San Diego to Los Angeles, and from San Diego to Fort Yuma.
Proposed length, 320 miles.
Capital stock, $5,000,000.
Articles filed May 8, 1889.

ALAMEDA COUNTY TERMINAL RAILWAY COMPANY.

Standard gauge.
Termini, San Francisco Bay, near City of Alameda, to Park Place, and

intermediate branch to Oakland.
Proposed length, 15 miles.
Capital stock, $200,000.
Articles filed May 24, 1889.

SAN FRANCISCO, TAMALPAIS, AND BOLINAS RAILWAY COMPANY.

Gauge (not stated).

Termini, San Francisco to Sausalito and point at base of Mount
Tamalpais, and from Sausalito to Bolinas Bay.

Proposed length, 20 miles.

Capital stock, $500,000.

Articles filed September 6, 1889.

HIGHLAND RAILROAD COMPANY.
Gauge (not stated).

Termini, point in Sierra Madre Mountains near Wilsons Peak, through
Pasadena to City of Los Angeles.
Proposed length, 20 miles.
Capital stock, $100,000.

Articles filed October 21, 1889.

AMENDMENT.

NATIONAL CITY AND OTAY RAILWAY COMPANY.
Increase of capital stock, $200,000 to $1,300,000.
Filed January 5, 1889.

CONSOLIDATION.

SOUTHERN CALIFORNIA RAILWAY COMPANY.

Formed by the consolidation of the California Southern Railroad
Company, the California Central Railway Company, and the Re-
dondo Beach Railway Company.

Capital stock, $16,935,000.
Length of road, 606 miles.
Agreement filed November 7, 1889.

[blocks in formation]

$107,299,270 00 None. $5,443,300 43 $35,117,241 70 $22,696,544 87 $12,420,696 83
756.91 $167,655,936 16

68,000,000 00 $59,759,000 00 27,855,680 00
390.48 19,098,344 53

10,418,600 00 7,484,000 00 17,121 09
115.44 19,537,072 60

12,000,000 00 6,830,000 00 278,878 60
1,244.01 110,388,225 51

59,298,800 00 43,050,500 00 1,844,927 10
243.00 7,271,100 00

825,652 60 1,038, 119 66 ** 212,467 06
269.09 12,646,343 67 $267,656 33 6,457,000 00 6,457,000 00 319,043 49 1,089,285 26 927,376 07 161,909 19
210.61 11,437,806 10 210,775 64 6,072,000 00 5,582,610 00 465,678 82 1,405,814 52 1,200,748 79 205,065 73
30.00 812,156 33 77,125 22 718.500 00

None. 150,189 93 11,627 85 13,646 47 ** 2,018 62
108.50 4,656,120 12 861,952 42 3,750,000 00

None.

272,032 92 659,927 72 409,172 61 250,755 11 7.00 115,116 20 8,884 85 100,000 00

None.

None. 30,525 16 21,594 45 8,930 71
30.00 615,018 47 84,652 49 80,000 00 191,000 00 384,247 12 143,441 05 55,985 27 87,455 78
26.00 320,000 00

320,000 00

None.

None. 61,570 21 36,921 55 24,648 66 104.00 11,500,000 00

6,000,000 00 5,500,000 00

None.
92.25 3,155,373 90

2,500,000 00 1,240,000 00 250,910 04 347,460 38 274,226 43 73,233 95
76.10 2,955,953 34

1,370,400 00 1,370,000 00 125,679 16 260,783 25 148,033 51 112,749 74 28.94 242,503 38 43,499 00 200,000 00

None. 10,872 45 67,241 89 39,687 72 27,554 17 108.00 3,240,000 00

1,620,000 00 1,620,000 00 None. 22.00 155,650 53 22,058 70 100,500 00 70,000 00 3,272 34 21,783 43

12,075 75 9,707 68 18.00 133,967 44 42,110 00 168,000 00

None.

None. 113,607 48 99,730 35 13,877 13 30.23 360,601 07 75,641 71 453,450 00

Nope.

3,387 19 86,866 66 110,885 03 ** 24,018 37
22.50 540,386 33 74,134 89 242,200 00 260,000 00 2,105 45 89,211 89 54,823 01 34,388 88
42.00 736,955 90 50,216 53

None.

None. 37,815 79 25,530 41 12,385 38 11.50 87,263 02 9,616 09 40,000 00 50,000 00 10,000 00 4,351 55

763 50

3,588 05 3,986.56 $377,662,894 60 $1,828,317 87 $287,208,720 00 $139,464,110 00 $37,437,226 13 $40,374,208 39 $27,165,865 45 $13,446,696 99 3,441.70 340,208,886 91 3,303,061 62 331,968,570 00 162,906,584 00 | 50,472,939 62 32,273,287 46 22,554,840 78 9,718,446 68

544.86 $37,454,007 69 $1,474,743 75 $44,759,850 00 $23,442,474 00 $13,035,713 49 $8,100,920 93 84,611,024 67 $3,728,250 31 CAPITAL STOCK.

[graphic]

COMPANIES.

Cost of Con-
Length struction, In-
of Road, cluding Build-
in Miles, ings, Lands,
in State. Fences, Tools,

Salaries, etc.

Southern Pacific Company -
Central Pacific Railroad Company-
Northern Railway Company -
California Pacific Railroad Company
Southern Pacific Railroad Company of California
Atlantic and Pacific Railroad Company-
California Central Railway Company -
California Southern Railroad Company -
Los Angeles and Pacific Railroad Company
San Francisco and North Pacific Railroad Company
Visalia Railroad Company.
Eel River and Eureka Railroad Company
Northern California Railroad Company
South Pacific Coast Railway Company -
North Pacific Coast Railway Company
Pacific Coast Railway Company --
Sonoma Valley Railroad Company
Carson and Colorado Railroad Company
Colusa and Lake Railroad Company.
Arcata and Mad River Railroad Company
National City and Otay Railway Company.
Nevada County Narrow Gauge
Nevada and California Railroad Company-
Visalia and Tulare Railroad Company

None.

Totals for 1888
Totals for 1887

Differences between 1887 and 1888.

* No road owned.
† No equipment owned.

Included in construction.
Not reported.
Reported by Southern Pacific Company.
Reported by lessee in Nevada.
** Deficiency.

Reference is respectfully made to Table No. 2, for a financial statement, which is as complete as has been furnished this office by the several corporations doing business in this State. Totals are compared with 1887. The amount of capital stock issued is shown to be $287,208,720; per mile of road this capitalization is $52,730. The amount of capital stock for 1888 shows a decrease of $44,759,850 over 1887, caused from the fact that the Atlantic and Pacific did not report capital stock last year.

The total number of stockholders is reported at 787.

INDEBTEDNESS.

The total indebtedness of reporting corporations, December 31, 1888, was $176,901,336 13.

Classified, this indebtedness is as follows: Funded debt

$139,464,110 00 Unfunded debt.

37,437,226 13 Total ....

-$179,301,336 13

As compared with the returns of last year this is a decrease of indebtedness of $36,478,187 49, or deducting the funded debt of the Atlantic and Pacific for 1887 of $33,413,534, which is not reported this year, we get as a result a net decrease of $3,064,653.

STOCK AND DEBT.

The total stock and debt is reported as follows:
Capital stock
Funded debt
Unfunded debt

$287,208,720 00 139,464,110 00 37,437,226 13

Total.

-$464,110,056 13

COST.

The property accounts of the several companies show a footing of $379,491,212 47. as against $343,511,948 53 for 1887. This increase is caused by the adding of the capital of the seven new companies. This cost includes grading and masonry, bridging, superstructure, including rails, land, land damages, fences, passenger and freight stations, engine houses, car sheds, machine shops, tools and machinery, interest, engineering, agencies, salaries, and other expenses during construction and equipment of every kind.

TABLE No. 3.

SHOWING COST OF ROAD PER MILE, AS REPORTED TO THE COMMISSION.

Cost of Each Road per Mile as Reported.

COMPANIES.

Central Pacific Railroad Co..
Northern Railway Co.
California Pacific Railroad Co..
Southern Pacific of California..
Atlantic and Pacific Railroad Co.....
California Central Railway Co.....
California Southern Railroad Co...
Los Angeles and Pacific Railway Co..
San Francisco and North Pacific
Railroad Co.

Visalia Railroad Co.

Eel River and Eureka Railroad Co..
Northern California Railroad Co.
South Pacific Coast Railway Co.
North Pacific Coast Railroad Co.
Pacific Coast Railway Co..
Sonoma Valley Railroad Co...
Carson and Colorado Railroad Co...
Colusa and Lake Railroad Co..
Arcata and Mad River Railroad Co...
National City and Otay Railway Co..
Nevada County Narrow Gauge..
Nevada and California Railroad Co..
Visalia and Tulare Railroad Co......

Miles.

1,360.28
390.48

115.44
1,244.01
243.00

269.09

210.61
30.00

108.50
7.00

30.00

26.00

104.00

92.25

76.10

28.94

108.00

Cost of
Construction.

$167,655,936 16
19,098,344 53

19,537,072 60

110,388,225 51

7,271,100 00

12,646,343 67
11,437,806 10

812,156 33

4,656,120 12
115,116 20

615,018 47

320,000 00

11,500,000 00

3,155,373 90
2,955,953 34

243,503 38

3,240,000 00

Cost of
Equipment.

[blocks in formation]

Totals

Average cost per mile $82,461+.

Included in construction.

+ Equipment not reported.

22.00

18.00

30.23

22.50

42.00

11.50

Gross earnings per mile of road for 1888 were
Gross earnings per mile of road for 1887 were

155,650 53

133,967 44

360,601 07

540,386 33

-----

74,134 89

736,955 90
87,263 02

50,210 53
9,616 09

4,589.93 $337,662,894 60 $1,828,317 87

Total increase per mile of

Operating expenses per mile of road for 1888 were..
Operating expenses per mile of road for 1887 were....

Total increase per mile of

22,058 70
42,110 00

75,641 71

EARNINGS AND INCOME.

The total traffic receipts and income from other sources for the year ending December 31, 1888, amounted to $40,374,208 39, or $7,413 50 per mile of road operated. As compared with 1887, this is a gain of $8,100,

920 93.

8,077+

9,782+

14,430+

27,312+

Total operating expenses amounted to $27,165,865 45, or $4,988 25 per mile of road operated. As compared with 1887 this is a gain of $4,6Î1,024 67.

18,742 + 8,424 +

$7,413 50 7,066 60

$347 90

$4,988 25 4,939 47

$48 78

MAILS.

The amount received for carrying the United States mail in the State is reported at $880,342 50, of which whole amount the Southern Pacific Company received $789,446 07.

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