Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1855-01-30
Boston Worcester Railroad.


The 25th annual report of the Directors
of the Boston and Worcester Railroad has
been presented for distribution to stock hol.
ders. From it we learn the following facts
in regard to the affairs of the corporation. The
total amount of capital stock paid in is 81, 800
600. The total amount of funded debt S425,-
600; amount of floating debt $l62, 553, o.
The funded debt consists of bonds issued I'M
der an act of the Legislature in 1850, author
Izing the increase of the capital stock 5000
shares, payable in cash or i'll bonds, and max
ing the capital five millions, $4,000 issued
PAYABLE in 1861 and S325, 900 issued CONVEX
tible into stock at par, at the pleasure of the
holder. There are no mortgages on the road,
or any property of the corporation. The aver
age rate of interest paid during the year is
per cent. The floating debt includes Sl0l,-
PSI 5S for unpaid dividends, the monthly
bills, balances with connecting roads and pay
rolls.
The total cost of the road and its equip.
ment up to November 10, 1854, the date of
the Report, was 81, 356 80 81. The length
of the main road is A 5-S miles, and it has
double track throughout. The length of the
branches is 81 miles with single track, whole
length of main road and branches 6S SIS
miles. The total miles run during the year is
sol, S47. The number of passengers carried
merchandise 1924, 9S9,65 The average rate of
speed attained by express trains was 80 miles
an hour, by accommodation trains % miles an
hour. The total expenditures for working
the road were 1904, 52S 80 of which $l3S,-
92l "a were for maintenance of way, $751;
l22 OF for maintaining the motive power and
cars, and far miscellaneous, including fuel,
salaries, &C., 1914 ,485 90.
The total income during the year was $685.
800 %, and the net income S35S, 466 rs. Two
dividends. one of 10 and the other of 3per
cent, have been paid, and there is surplus,
not divided, of $40, $3.50. The total surplus is
$l3S, 46S, 81
AS compared with previous years the ear
nings show an increase of 500, 675 ll-$7 90
of which, however, was really earned the pre-
vious year. Four new engines have been
added to the equipment of the road, making
the whole number 80.
The cost Of running trains has swelled dur
ing the year, owing to the high price of fuel,
iron and labor, from 81 Clio cents to 81 l6
per mile; the cost of transporting a passenger
or - ton of merchandise per mile (without
distinguishing between them, is l "a 100 of
a cent, instead of l Ii as last year and the
total expense of working the road, is 81 ID
per cent. on the grossaearnings, instead OF
81 IA as last year, The road repairs amount
but Oh the main road it would not be less than !
$1,000 per mile. This has been caused prn.
cipally by renewals of iron There have been
laid down of new iron 2013 tons. Making
nearly % miles of new track, or about equal
to one quarter of the entire track of the main
road. 1t has been done in the most thorough
manner, with improvements Ill the condition
of the road bed and sleepers.
A material reduction in the cost of fuel, by
the substitution of coal for wood, is looked for
at an early date. The construction account
has been increased by charges for land pur-
chased, required in whole or part for the use
of the road, to the amount of $14, 273 SO, and
credited with sales of land to the amount of
81, 300 As. The Directors confidently assert
that notwithstanding the market price OF the
stock has suffered, sin sympathy with a mon
ey market Of unprecedented stringency and in
the effect on tie public mind of series Of disas-
ters follies, and crimes in railway manage
ment," they know of nothing to impair the
confidence Of the publicin the substantial val
ue of the stock that the road has not declin-
ed in its material condition and that the val
ue Of the property never was so high as at
this time. An advance Of fares has been made
during the year, and a further advance is re-
commended, i'll charges for freights as well as
passengers. The Millbury, Saxonville, Mil.
ford, Newton L Falls, and birmingham
Branches, are all run at loss, in the aggre-
gate of about 500, 900. The Brookllne branch,
which earns about $4,000, is the only branch
that pays.
The corporation has an excess of means
over the amount required TO pay the funded
and floating debt, of $77,995 Astonishing Of
cash, notes and bills receivable and stock. 1t
has also working stock of the road, $l66,63l
66; and land not used for railroad purposes,
S24S52 H.