NORTHERN RAILWAY COMPANY. HISTORY. 1. Name of common carrier making this report: Northern Railway Company. 2. Date of organization: July 19, 1871. 3. General laws of the State of California. 4. Charters of each, and all amendments of same: Name. Date of Incorporation. Northern Railway Company Winters and Ukiah Railway Company. Woodland, Capay, and Clear Lake Railroad Company Berkeley Branch Railroad Company. Sacramento Valley Railroad Company Folsom and Placerville Railroad Company July 19, 1871. .Aug. 9, 1887. ..July 7, 1887. .Sept. 2, 1886. Feb. 19, 1887. Mar. 28, 1882. April 19, 1877. May 9, 1887. -May 25, 1887. July 3, 1875. 5. Authority: General laws of the State of California. Date: May 15, 1888. 7. Carrier operating roads of this company: Southern Pacific Company. Sept. 25, 1876. Aug. 4, 1852. Sept 9, 1879. Number of stockholders at date of last election: 183. Last meeting of stockholders for election of Directors: April 11, 1888. Post Office address of general office: Fourth and Townsend Streets, San Francisco. Post Office address of operating office: Fourth and Townsend Streets, San Francisco. The bonds of the different companies were sold to contractors, who took the bonds for building the roads, except in case of Sacramento and Placerville Railroad bonds, which were exchanged for bonds of previous issue. Berkeley Branch R. R. first mortgage bonds Double track. Sacramento and Placerville R. R. first mort- Amador Branch R. R. first mortgage bonds. Northern Railway 50 years bonds.... 31.03 Port Costa Suisun 16.34 Woodland Tehama... 100.36 West Oakland.... Delaware Street. 4.15 West Oakland (Double track). Shell Mound Galt Ione 27.20 Napa Junction.. Santa Rosa. 36.70 11.79 Fruto 16.72 Madison 27.35 Sacramento All equipment mortgaged. NOTE.-The bonds of Berkeley Branch, Amador Branch, and Sacramento and Placerville are to be canceled, and new 50 years bonds to be issued in lieu thereof. None of the 50 years bonds were issued on December 31, 1888. Capital stock and mortgage cover railroad, telegraph lines, rolling stock, ferry steamer, etc.; the amounts per mile of railroad, therefore, cannot be correctly stated. Income from lease of road, January to June.. $330,912 00 Income from lease of road, July to December, 6 per cent per annum 312,558 00 Interest on invested sinking fund. 16,020 00 Miscellaneous income 1,343 31 Total income Sinking fund requirements Interest on funded debt, January to December, paid by lessee- (Owing to consolidation of several lines into the present Northern Railway Company, the details necessary to show charges since December 31, 1887, as required, are not available.) EARNINGS FROM OPERATION. (Reported by Southern Pacific Company, lessee.) OPERATING EXPENSES. (Reported by Southern Pacific Company, lessee.) RENTALS PAID. (Reported by Southern Pacific Company, lessee.) IMPORTANT CHANGES DURING THE YEAR. The following companies were consolidated with the Northern Railway Company during the year: The following extensions were made during the year, and turned over to lessee for operation: 1888-May 31-Napa Junction to Santa Rosa.. July 1-Willows to Fruto .. Shingle Springs to Placerville Madison to Rumsey.. Nov. 1.-Berkeley Branch West Oakland to Delaware Street was reduced In addition to above, there was also constructed 28 over to lessee November 1, 1888. 36.70 miles. 16.72 miles. 11.79 miles. 23.70 miles. 1.54 miles. of a mile. miles of double track, and turned The capital stock of the consolidated companies was exchanged share for share for the Northern Railway Company stock. There was issued for construction of new road 8,310 shares of capital stock, and $692,000 of first mortgage 6 per cent bonds. Bonds to the amount of $21,000,000, bearing 5 per cent interest per annum, due fifty years from October 1, 1888, were authorized to cover exchange of bonds of companies consolidated with the Northern Railway Company; also for construction and extension of new lines. None of these bonds were issued during 1888. CONTRACTS, AGREEMENTS, ETC. (Reported by Southern Pacific Company, lessee.) EMPLOYÉS AND SALARIES. (Reported by Southern Pacific Company, lessee.) |