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The stock issued for dividends was in lieu of amount of net earnings which had been expended for construction, and was charged to income account.

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Name of Every Railroad the Operations of which are Included in the Income Account-Page 31,

Railroad line represented by capital stock:

IN GIVING ROADS. OBSERVE THE FOLLOWING CLASSIFICATION AND ORDER:

1.

3.

Line operated under lease for specified sum

A. Main line.

4.

B. Branches and spurs.

2. Proprietary companies whose entire capital stock is owned by this

5.

Line operated under contract, or where the rental is contingent upon earnings or other considerations. Line operated under trackage rights.

company.

(Page 9.)

MAIN TRACK OWNED SOLELY BY CHICAGO, MILWAUKEE & ST. PAUL RAILWAY COMPANY.

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Chicago & Northwestern Railway, Pittsburg, Chicago, Cincinnati & St. Louts Railway-Chicago.. Chicago, St. Paul, Minneapolis & Omaha Railway-Mendota to St. Paul.

MILES OF MAIN TRACK IN WHICH THE CHICAGO, MILWAUKEE & ST. PAUL RAILWAY COMPANY. OWNS A JOINT INTEREST, WITHChicago & Northwesthern Railway, Pittsburg, Cincinnati, Chicago & St. Louis Railway-Chicago... Wisconsin Central lines - Chippewa Falls

.39

1.22

.10

5.20

.16

1.87

Illinois Central Railway, Chicago, St. Paul, Minneapolis & Omaha Railway, Sioux City & Pacific Railway.

23

.28

9.45

(We have no such distinction as "main line and branches.")

Kansas City, Fort Scott & Memphis Railway-Kansas City.

Total main track used solely and jointly.

4. Oshkosh to Ripon....

5. Line operated or used used under trackage rights

Pittsburg, Cincinnati, Chicago & St. Louis Railway-Chicago..

Illinois Central Railway-Dubuque.

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Chicago, Rock Island & Pacific Railway-Port Byron to Rock Island...

Total..

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(Page 19.)

FUNDED DEBT.

MORTGAGE BONDS, MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS.

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