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30,000 Denver & Rio Grande Railroad Co.'s 4 per cent First Consolidated Mortgage Gold Bonds, due 1936.

15,000 Des Moines & Fort Dodge Railroad Co.'s 4 per cent 30 Year First Mortgage Gold Bonds, due 1935

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100,000 Des Plaines Valley Railroad Co.'s 4% per cent First Mortgage Gold Bonds, due 1947 (Guaranteed by Chicago & Northwestern Ry. Co.).

100,000.00

100,000.00

85,000 Duluth & Iron Range Ry. Co.'s 5 per cent First Mortgage Bonds, due 1937.

85.164.69

11.77

85,152.92

10,000 Grand Trunk Railway Co.'s 61⁄2 per cent Equipment Trust Certificates, due 1936.

9,515.00

9,515.00

35,000 Grand Trunk Railway Co.'s 7 per cent 20 Year Debenture Bonds, due 1940

35,234.62

13.81

35,220.81

100,000 Great Northern Ry. Co.'s 51⁄2 per cent General Mortgage Gold Bonds, Series B, due 1952 4,000 Great Northern Ry. Co.'s 7 per cent General Mortgage Bonds, Series A, due 1936.

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Illinois Central R. R. Co.'s 31⁄2 per cent First Mortgage Gold Bonds, due 1951

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4,965.00

4,965.00

Illinois Central R. R. Co.'s 4 per cent First Mortgage Gold Bonds, due 1951

8,347.50

8,347.50

24,000 Illinois Central Railroad Co.'s 4 per cent Gold Bonds, due 1953..

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22,000 Illinois Central Railroad Co.'s 7 per cent Bonds, Series F, due 1935.

22,198.00

99.00

22,099.00

25,000 Kansas City, Fort Scott and Memphis Railroad Co.'s 6 per cent Consolidated Mortgage Bonds, due 1928.

26,070.93

214.19

25,856.74

At June 30, 1924

7,000 Lake Erie & Western Railroad Co.'s 5 per
cent First Mortgage 50 Year Gold Bonds, due
1937.

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Lake Shore and Michigan Southern Ry. Co.'s 31⁄2 per cent Gold Bonds, due 1997 28,000 Lehigh Valley Railroad Co.'s 42 per cent First Mortgage Bonds, due 1940. Lehigh Valley Railroad Co.'s 4 per cent General Consolidated Mortgage Gold Bonds, due 2003 10,000 Lehigh Valley Terminal Ry. Co.'s 5 per cent First Mortgage Bonds, due 1941 25,000 Louisville & Nashville Railroad Co.'s 61⁄2 per cent Equipment Trust Certificates, due 1933

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52,000 Louisville & Nashville Railroad Co.'s 7 per cent Bonds, due 1930

52,769.39

109.91

52,659.48

225,000 Michigan Central Railroad Co.'s 5 per cent First Mortgage Gold Bonds, due 1931 (Detroit & Bay City Division) 2,000 Minneapolis & St. Louis Railroad Co.'s 4 per cent First Refunding Mortgage Gold Bonds, due 1949.

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Missouri Pacific Railroad Co.'s 5 per cent First and Refunding Gold Bonds, due 1965. 100,000 Missouri Pacific Railroad Co.'s 6 per cent Equipment Trust Notes, due 1934 and 1935.. 100,000 Montana Central Railroad Co.'s 6 per cent First Mortgage Bonds, due 1937

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26,000 Morris and Essex R. R. Co.'s 32 per cent General Mortgage Bonds, due 2000.

19,760.00

19,760.00

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50,000 New Jersey Junction Railroad Co.'s 4 per cent First Mortgage Bonds, due 1986 3,000 New York Central & Hudson River Railroad Co.'s 6 per cent Conv. Debenture Bonds, due 1935

39,494.45

47,293.75

39,494.45

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35,000 New York Central Lines 5 per cent Equipment Trust Gold Certificates, due 1929. 25,000 New York Central Railroad Co.'s 7 per cent Equipment Trust Gold Bonds, due 1933. 36,000 New York Central & Hudson River Railroad Co.'s 32 per cent First Mortgage Bonds, due 1997

$34,070.85

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24,875.00

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32,940.00

32,940.00

3,000 New York, Chicago & St. Louis Railroad Co.'s 4 per cent First Mortgage Gold Bonds, due 1937

2,265.00

4,000 New York and Harlem R. R. Co.'s 31⁄2 per cent Gold Bonds, due 2000.

3,130.00

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New York, Lackawanna & Western Ry. Co.'s 5 per cent Construction Mortgage Bonds, due 1923.

50,000 New York, New Haven & Hartford Railroad Co.'s 6 per cent Conv. Debenture Bonds, due 1948

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At June 30, 1924

At June 30, 1923

Increase 1923-1924

Decrease 1923-1924

10,000 New York, Ontario & Western Railroad
Co.'s 4 per cent Refunding Mortgage Gold
Bonds, due 1992

1,000 New York, Susquehanna & Western Rail-
road Co.'s 5 per cent First Mortgage Gold
Refunding Bonds, due 1937.

$10,000.00

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500.00

500.00

50,000 Norfolk & Western Railroad Co.'s 4 per
cent Divisional First Lien and General Mort-
gage Gold Bonds, due 1944.

46,222.50

46,222.50

13,000 Norfolk & Western Railway Co.'s 4 per
cent First Consolidated Mortgage Gold Bonds,
due 1996.

12,632.50

12,632.50

Norfolk Terminal & Transportation Co.'s 5 per
cent Terminal First Mortgage Gold Bonds, due
1948.

5,085.59

$5,085.59

363,000 Northern Pacific Railway Co.'s Refunding
and Improvement 6 per cent Mortgage Bonds,
due 2047

350,295.00

350,295.00

590,000 Northern Pacific Railway Co.'s 3 per cent
General Lien Ry. Land Grant Gold Bonds,
due 2047

421,111.67

421,111.67

137,000 Northern Pacific Railway Co.'s 4 per cent
Prior Lien Railway Land Grant Gold Bonds,
due 1997

135,771.28

9.14

135,762.14

25,000 Northern Pacific Railway Co.'s 7 per cent
Railway Equipment Bonds, due 1929
Oregon & Cal fornia Railroad Co.'s 5 per cent
First Mortgage Gold Bonds, due 1927

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50,000 Oregon Short Line Railroad Co.'s 5 per cent Consolidated First Mortgage Gold Bonds, due

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75,000 Pennsylvania Railroad Co.'s 5 per cent
General Mortgage Gold Bonds, Series B, due

1968.

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5,000 Pennsylvania Railroad Co.'s 41⁄2 per cent
General Mortgage Bonds, Series A, due 1965
50,000 Fennsylvania Railroad Co.'s 7 per cent
Secured Gold Bonds, due 1930

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30,000 Pennsylvania Railroad Co.'s 61⁄2 per cent
Secured Gold Bonds, due 1936

29,750.00

50,000 Pere Marquette Ry. Co.'s 5 per cent First
Mortgage Bonds, due 1956..

$45,625.00

20,000 Pittsburgh & Lake Erie Railroad Co.'s 6
per cent Equipment Trust Certificates, due
1933.

19,572.00

12,333.33 The Philadelphia and Reading Coal and
Iron Co.'s 5 per cent Refunding Mortgage
Sinking Fund Gold Bonds, due 1973.
24,666.67 Reading Co.'s 42 per cent General

Mortgage Gold Bonds, Series A, due 1997.
Reading Co. & Philadelphia & Reading Coal &
Iron Co.'s 4 per cent General Mortgage Gold
Bonds, due 1997

30,549.45

5,000 St. Louis & San Francisco Ry. Co.'s 5 per cent General Mortgage Bonds, due 1931. 13,000 St. Louis, Iron Mountain & Southern Ry. Co.'s 4 per cent (River & Gulf Division) First Mortgage Gold Bonds, due 1933.

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66,406.25

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