Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1855-01-22
Increase. $3.50 754 Dee, 28,O33 Increase ~ $50

Increase. .*2S6,754 Dee, 2SO33 Increase $50
The large increase in the expenses of 1854,
beyond that of 1868, is owing to the high
cost materials and labor, and the large amount
of renewals.
The fuel of 1854 cost $50, 900 more than in
| 1858, owing both to increased prices and in
creased amount used. There were 1921, 600
spent ia 1854 for the renewal of the rails
against $685. 200 i'll 1858. The necessary ex-
! penditures for cars, new, and repairs Of old,
! in 1854, was $50, 900 in advance of 1853. The
| excess Of expenditures in the locomotive de-
! partment, was also about $40, 900
ain addition 80 the largo amount for re-
| newals, &c. mentioned above, and charged to
| current expenses, there has been expended for
! bridges, cars, locomotives, iron, &C., during
! the year, $t89,735, which stands charged to
| extraordinary renewals and equipment. 1t
| will be perceived that the contingent fund,
| which is net profits from the business, very
| nearly balances this amount"
! The business Of the past two years nav thus
| be stated, III comparison: in 1853, 55 ,63S, 698
| passengers or tons of freight, were carried one
mile; III 1854. 60.969,375. In 1853, it cost
| the corporation one cent and three hundred
and ninety one thousandths for zach passen-
| ger, or each tou of freight. carried one mile:
| and in 1854, it cost one cent and seven hun
| dred and fourteen fthousandths for the same
| work.
"Nhile the receipts from all sources have
been $l,763,944, and 9238, 72l mole than last
| year, and about $4,000 over any former
| year, the net receipts have been less by S28,-
| O33, than the last year, and only about an ay-
| erage of the last six years. Various causes
| have operated to produce this result The
| winter of 1853 and 81 was one of great sever
| ity, and Throughout New England was pro.
| dunfiye If mora thoy, he ,,s,,ol a,,,o,,,.
| jury TO rosdways, and rolling stock of raul.
| roads. The feeble condition of our old rails.
rendered the tracks peculiarly liable to damage
| from frosts More than the ordinary repairs
| were found necessary i'll the course of the
| winter, and during the remainder of the wear
| amuch larger force than usual has been occu-
| pied in opening the bitches, strengthening the
| embankments, and relaying new superstruc-
| ture. Thirty miles of new iron (2900 tons)
! have been laid, and 2074 feet of new bridg-
| ing lbeing more than 30 per cent. on the whole
amount OF truss bridging upon the road) have
| been built during the year"
| OF the purchase Of the Hudson and Berk-
shire railroad, recently made in behalf of the
| Western road, at cost of $3.50 ,000 including
! wharf properly at Hudson, rolling stock, &c,
| the report OF the Directors says owe are of
1 the opinion that on many accounts this spur-
| chase may be regarded as of great Importance
| to this corporation. 1t secures to the ALBANY
| aud West Stock bridge railroad rthe charter
name of that part of the Western road in n.
| York State, an important portion Of its road.
| way,-furnishes second track for all or por-
ton of the distance Gas it may be deemed adj
yisaole to use it) between the State line and
| Chatham, and gives to this corporation the
control of the road between Chatham -Four
| Corners and Hudson.
~
| the road purchased, is already large. and is
annually increasing"
'Ihe disasters, which, during the past wear,
have overtaken so many have not visited this
| corporation We have but few serious acct
| dents to record, and none to passengers. With
slight exception, amounting to less than one
| hundred dollars, we have suffered no losses
| from the misconduct of unfathful servants"
| The directors strongly, and with the force
| OF cogent argument, recommend the con-
struction OF second track throughout tho
| whole line of the road, as soon and as RAPIDLY
| as the means can be obtained without sacrifice
and as the exercise of proper economy aud
| the continued payment of the regular diyi-
| dends, will permit. Of the l55 mile. of the
| road-Worcester to Albany-43 are now pro.
| vlded with double track, or nearly all that
| portion between Worcester and Springfield.
| One hundred and twelve remain to be done
Less than $4,000 per mile will complete
the work, including the grading and bridging
| required and the iron. The want of a second
| track between Springfield and Albany has
been very seriously felt the past year. The
| delays and other increased expenses growing
out OF the great multiplicity of trains upon
| the road at the same time have amounted to
enough to pay the interest on the additional
cost Of another track. With the steady and
rapid increase of business upon the road,
there can he no doubt Of its usefulness, or in
! deed absolute necessity. "The comparative
cost OF the second track will be so small that
| no one who will examine the business of the
| road, can doubt for moment but that it will
lAerease rather than diminish tho ability of the
company to pay dividends. The promptness
and dispatch that would be attained in doing
the business would give new life and charac.
ter TO the Company
| The total cost of the Western Railroad and
| its equipment has been but a small fraction
! from ten millions dollars Half of this ia
represented by private stock the other half
was raised upon loans OF Massachusetts, State
and Albany City credits,-about four millions
OF the State and one million Of the city,
These loans are due between 1868 and 1876,
mostly between So and II.
And to meet them the sinking funds were
established when the loans were originally
made, BY setting apart nearly half million
OF dollars, partly Of the proceeds of the loans.
and partly Of some shares of the stock, and
this has gone on increasing ever since by tho
addition Of its own earnings, and 500 200
I year from the earnings of the road. The to-
! tal value Of these funds is now 81 ,373, 649, or
| $l25,8l2 increase within tho last year. The
I present system Of accumulation will enable
these sinking funds to fully meet the loans
above described, when they fall due and
then the stockholders Of the road will have
In their possession, without debt, a road aud
| equipments that cost over ten millions of dol
lars, but for which they have paid only five.
! SO hsppily and successfully are the ingenious
and wise plans Of its founders working out itq
grand results
! The flour transported over the road, from
Albany cast in 1854, was 42l 1874 bbls., of
| which 232,0S2 were to Boston. The flour
transportation the year before was AL 1904
| bbls. In ls47 it was 7O2, 800, and has never
boon so large since. The total number Of
tons OF freight moved last year was 1856, 1858,
an increase of over 10000 over 1853. The
freight carried from Boston west, both through
and local, is almost precisely the same in "a
as IN '63 and the amount carried through
from Albany to Boston is nearly 5000 tons less
in '6l thar 90, but the way freight from the
west brings up the deficiency and secures a