Number of shares of ordinary stock (subscribed). Total shares of stock, of par value of $100 per share (subscribed). CHARACTERISTICS OF ROAD. Main line of road from South ferry and from Fulton ferry, BALANCE SHEET AT THE END OF YEAR. Cash.... Capital stock.. Dr. Cr. 500 500 10 15 miles. NAMES AND RESIDENCE OF THE DIRECTORS OF THE CORPORATION. THE NAMES AND OFFICIAL ADDRESSES OF THE EXECUTIVE AND GENERAL OFFICERS OF THE CORPORATION. Communications intended for this company should be addressed, Charles Bruff, Secretary, 115 Broadway, New York city. BROOKLYN AND LONG ISLAND TRUNK LINE. (Date of charter, May 31, 1883.) NOT IN OPERATION. Organized under the General Railroad Laws of New York, by articles of association filed in the office of the Secretary of State, May 31, 1883. The road has Number of shares of ordinary stock (subscribed)......... 941 941 25 NAMES AND RESIDENCE OF THE DIRECTORS OF THE Corporation. Names of Directors. AUSTIN CORBIN J. ROGERS MAXWELL. HENRY W. MAXWELL JAMES K. O. SHERWOOD THOMAS F. WARD..... WILLIAM G. WHEELER CHARLES BRUFF.... Residence. Islip, N. Y. Brooklyn, N. Y. THE NAMES AND OFFICIAL ADDRESSES OF THE EXECUTIVE AND GENERAL OFFICERS OF THE CORPORATION. Title. President. Vice-President. Secretary Treasurer.. Oncers. AUSTIN CORBIN Official Address. ... 115 Broadway, New York city. .. J. ROGERS MAXWELL 115 Broadway, New York city. Communications intended for this company should be addressed, J. Rogers Maxwell, Vice-President, 115 Broadway, New York city. BROOKLYN AND MONTAUK. LESSOR. LESSEE, LONG ISLAND RAILROAD COMPANY. (Date of charter, November 20, 1879.) The Brooklyn and Montauk Railroad Company was incorporated by certificate, filed in the office of the Secretary of State, November 20, 1879. It is a reorganization of the South Side Railroad Company of Long Island, and the Southern Railroad Company. The road was sold under foreclosure of the sinking fund mortgage of the South Side Railroad Company, and of the general mortgage of the Southern Railroad Company, and was conveyed to this company, subject to $750,000 South Side first mortgage bonds on the main line, and to a $60,000 mortgage on the Rockaway branch, which last-mentioned mortgage has since been foreclosed, and the property covered by it conveyed to the company in exchange for stock reserved for the purpose. ...... The South Side sinking fund mortgage was $1,500,000 00 500,000 00 $2,000,000 00 The capital stock of this company was fixed at $2,000,000, of which $1,100,000 was preferred stock, and $900,000 common stock. The sinking fund bondholders received 60 per cent preferred stock. $900,000 00 600.000 00 Total.... $1,500,000 00 The Southern general bondholders received 40 per cent preferred stock.. The Southern general bondholders received 60 per cent common stock... Total.... $200,000 00 300,000 00 $500,000 00 The entire amount of the sinking fund mortgage was outstanding, and the stock to be issued for these bonds was.. The amount of the Southern mortgage bonds outstanding was only. $1,500,000 00 411,000 Total... Leaving of stock unissued $1,911,000 00 89,000 Total.. $2,000,000 00 This amount, $89,000 of stock, was issued during the fiscal year ending September 30, 1883, in consideration of the conveyance to this company of the Rockaway branch, which had been incumbered by a $60,000 mortgage at the time of the organization of this company. This mortgage was foreclosed, the property purchased by a person who subsequently conveyed it to this company freed from the claim of the mortgage. This issue was made in pursuance of the incorporation of the company and its plan for the issue of its stock. The only statute affecting this company is chapter 78, Laws of 1881, authorizing the changing of the date of the annual meeting of the stockholders from first Tuesday to the first Wednesday of November, as the former day was frequently election day. The road is leased to the Long Island Railroad Company, at a rental of 25 per cent of the net profits of the Long Island system. The lease runs for fifty years from October 1, 1879. Total shares of stock, of par value of $100 per share (subscribed).. 20,000 152 Statement of Funded and Unfunded Debt. None of these obligations were executed or assumed by this company, except as herein stated; but the road is claimed to be subject to them. NOTE A. An amount is claimed by the Long Island Railroad Company to be due under the lease for interest and advances made to this company, and also for a share of the deficiency in the business. This company has not admitted this claim, except for interest paid. NOTE B.This mortgage was issued to secure $250,000 necessary to build the extension, and to supply $750,000 to take up the South Side first mortgage due March 1, 1887. Only $250,000 of said bonds have been issued; the balance are held in the custody of the trustee, the Central Trust Company of New York. The interest on the entire issue is guaranteed, and the principal of $250,000 thereof also by the Long Island Railroad Company. COST OF ROAD AND EQUIPMENT. The cost of road and equipment at the present time is represented $2,000,000 00 1,043,500 00 $3,043,500 00 CHARACTERISTICS OF ROAD. Main line of road from Brooklyn to Eastport 70.750 miles. Main line laid...... 70.750 miles. Branches owned (built): Far Rockaway branch, from Valley Stream to Neptune House... 9.410 ." Hunter's Point branch, from Fresh Pond to junction of New York and Flushing railroad 1.515 Total main line (laid), branches owned, and lines leased or operated. 81.675 miles. NOTE. No rental has yet been received from the Long Island Railroad Company, that company claiming that the entire share of this company has been expended in payment of interest on the first mortgage bonds of this company, and other fixed charges. |