Street Railway SUPPLEMENT OF THE 0MMERCIAL & lWANCIAL HRONICLE. (]| P (^ FOR INDEX OF COMPANIES See pages 93, 94, 95 and 96. A."ULa:-CLst 26, 1899. WILLIAM R DANA COMPANY, PUBLISHERS, PINE STREET, coeneb PEARL STREET, NEW YORK. IrEntered. by William B. Paha CoMrAKT, In office of UbnxUta-ot Cop<raM,WMhlngtoruD.^-l ooorfllngtoAatof CongTMflintbeyflarl899 | A. N. CHANDLER & CO., BANKERS, THE BOURSE, FIFTH STREET FRONT, PHILADELPHIA. HIGH-GRADE INTESTMENTS. FIE8T MORTGAGE RAILROAD BONDS AND OTHER condition and investigated as to legality of issue, physical AU bondB offered by us have been carefuUy selected the Company. property and permanent financial success of of the mvestments. of intelligent counsel in the making of An experience of many years affords the advantage financing of corporations. Attention given to the organization and ENTERPRISES. CAPITAL FURNISHED FOR MERITORIOUS RAILROAD H. B. HOLLINS & CO., COR. WALL AND BROAD STREETS, World. Travelers, Available in aU parts of the Issue Letters of Credit for DEALERS IN INVESTMENT SECURITIES. MORTGAGE BANK OF MEXICO. QENTS FOR THE INTERNATIONAL AND WHITAKER & HODGMAN, BOND AND STOCK BROKERS, Louis, Mo. 300 North Fourth Street, - St. INVESTMENT SECURITIES AlO) MUNICIPAL BONDS. WE BUY TOTAL ISSUES OF CITIES. COUNTIES, SCHOOL AND STBEET BAILWAY COMPANY BONDS, AND DEAL IN HIGH-GBADB COMMERCIAL PAPER. ON APPLICATION MONTHLY CIRCULAR QUOTING LOCAL SECURITIES MAILED N. W. HARRIS & CO., BANKERS, BOSTON. NEW YORK. CHICAOO. Government and Municipal Bonds BOUGHT AND SOLD. |«0|E«™: AND PRIOR LIEN RAILROAD BONDS ESTABLISHED ALSO STREET BAILWAY OJTHE PURCHASE, BALE OB EX APPRAISEMENTS MADE OR QUOTATIONS FURNISHED FOR CHANGE OF ABOVE SECURITIES. L1ST3 ON APPLICATION. 31 NASSAU ST., ^"^lu^^DT/or""" NEW YORK. Cablb Addebbs: Saba. Street Railway SUPPLEMENT OF THE 0MMERCIAL & lNAWCIAL HRONICLE, [| f (^ VOLUME LXIX. A.ixgTist Qe, 1899. WILLIAM B. DANA COMPANY, PUBLISHE^RS, PINE STREET, corner of PEARL STREET, NEW YORK. In office of Ubrarlan of Congress, Washington, D. C. J [ Entered according to act of Congrese, In 1899, by William B. Dama Compant, the Enter«# accord! ug to Act of Congress in the year 1899 by WILLIAM B. DANA COMPANY, the office of the Librarian of Congress, Washington, D. O. Street Railway SUPPLEMENT OF THE- ommercial & inancial hronicle. (C F {^ [Entered according to Act of Congress iu the year 1899 by Williaji B. Dana Company, in the office of Librarian of Congress, Washington, D. cJ NEW YORK, AUGUST 26, 1899. it in another form will better suit thought Street Railway Supplement. which the we have in mind—the average load upon the power- The Street Railway Supplement Is issued semi-annually and is house machinery, as the result of the number of pas- famished without extra charge to every annual subscriber of the COIOIERCIAL AND FiNANCLAL CHRONICLE. sengers moved, is much more than the minimum load The Investors' Supplement, Isssued quarterly, is also furnished during a given period, and much less than the maxi- without extra charge to every subscriber of the Chronicle. The State and City Supplement, Issued semi-annually, is likewise mum load. This inconstant loading of the engines furnished icithout extra charge to every subscriber of the Chronicle. and dynamos is a serious disadvantage to economical The Quotation Supplement issued monthly is also furnished leith- out extra charge to every subscriber of the Chronicle. operation in many ways. A much more extensive plant Terms for the Chronicle, including the four Supplements above named, are Ten Dollars per annum within the United States and is required than would be necessary if the loads were Twelve Dollars (which includes jiostage) in Europe. more evenly distributed; the machicery is apt to be WILLIAM B. DANA COMPANY, Publishers, dangerously overloaded during the period of greatest Pine St., corner Pearl St., New York, stress; the efficiency is unfavorably affected and de- preciation is much more rapid than when the load can STORAGE BATTERIES AS AUXILIARY be so regulated that it is nearly uniform at all times POWER. during which the engines are in operation. Storage batteries some years ago seemed likely to Dynamos cannot store the electricity they generate; be an important factor in the change of motive-power therefore a street railroad has to provide a power on the horse-car lines to mechanical traction, which equipment to meet the greatest possible demands was then being extensively undertaken. This expecta- upon it, so far as they can be anticipated. To do tion of their usefulness as a system of street-railroad this it is usually desirable to put in a generating plant motive-power has been unrealized. Many experiments of considerably greater capacity than required by the were made under various conditions, but the success maximum load usually developed in practice. This is which seemed at ore time likely was never attained, in order to have a reserve power for sudden or unex- and the marvelous development of the overhead electric pected demands, as the transportation of an unusual trolley construction soon made it improbable that any holiday crowd for instance, which may otherwise other system so cheap in first cost of construction and dangerously overload the equipment. Under these in operation, could be developed to compete with it. conditions a large part of the generating plant must It is, in fact, only within the past couple of years that remain idle most of the time. The periods of maxi- it has been possible to point to a road entirely oper- mum loads are commonly of very short duration. ated by storage batteries, and only two or three euch They occur usually in the morning or evening, lines are now in operation in this country. that being the time when, as a rule, traffic is heavi- While the storage batteries have not succeeded in est, though special occasions will upset the regular making an important place for themselves as a trac- rule. It is not only the hourly changes in the traffic tion system, they have developed an important and and load which have to be cared for by the generators, widening field of usefulness in the operation of trolley but the momentary fluctuations as well. roads. Pew such companies are now without a bat- This fluctuation in the load to be carried and the tery of accumulators acting as a source of surplus adaptation of storage batteries for carrying such vary- power to meet emergencies and to relieve the load on ing loads has brought them into prominent and the regular generating machinery when the heaviest wide use in both electric-light and electric-railway demands are made on it. power plants. They bring about a very decided Street railroad travel is so fluctuating and irregular economy in fuel, and in most cases make pos- that the amount of power which it is necessary to sible other large savings in conductors and produce at the power-houses to furnish sufficient elec- minor expenses, besides relieving the generators, tric current to move the cars on the line constantly equalizing the load and allowing them to be used to varies, not only on different days, but at different their full capacity, thus making possi'ole the install- hours of the same day. The average travel, or—to put ing of a smaller plant than would be otherwise neces- STREET RAILWAYS. is no* refer to the fact that the current which are charged when the load on We «ary. The batteries joints dis- the made to overcome the resistance of the rail light, and they discharge when the dynamos is ground and attacks the tax or over- tributes itself through the demand is heaviest and would otherwise gas and water pipes, causing serious deterioration m generating plant. That is, power is accumu- load the of the railroad economically and them and bringing up the possibility it can be produced most lated when their destruction. as being assessed in heavy damages for until needed, and then it is discharged stored rail-bonding is by the of the The most common method of required. B: sides being used to take care near the end of each sec- in the de- use of copper wires fastened of the loads, and the fluctuations peaks joint and connected batteries tion of rail, carried around the for power on the generators, storage mand adjoining section. This, the end of with the opposite end of the also used in street-railroad work at are efficiency, and does such points however, rapidly deteriorates in long feeders to keep up the pressure at The not prevent a large loss of power at this point. necessity of sending the maximum and to obviate the best con- conductivity of such a bond, even under the feeders from the power-house. current over the long resistance of ditions, appears to be much less than the use in this way is apparent. The economy of their surplus power break in the rail, and of course the of the generators is de- the While the uneven loading do not seem IS wasted. Other methods of welding to their efficiency and hastens depreciation, structive thorough satisfaction that any of overloading or extreme to have given such -the storage battery will stand particu- very general use, although some, without injury. Hundreds of them is in and rapid fluctuations have obtained larly the many varieties of cast welds, be silently stored and delivered in a horse- power can electrically welding change considerable favor. The idea of short period if required, without apparent Tery rail joints altogether action the rails and doing away with in the battery. The energy being chemical, its year or two ago, and the method remain. It was much heard of a will continue while the chemical elements parts of the country.