The Portland daily press., 1865-08-02
ATLANTIC AND ST. LAWRENCE RAIL.
ROAD.
JNUAL MEETING.

| ATAANIlO nv - - -s~A~A-7
ANNUAL MEETING.
The annual meeting of the Stockholders Of
the Atlantic and st. Lawrence Railroad Com
pany was held yesterday at the Treasurer
Office, in the depot, in this city,-St. John
Smith, ESD, President, presiding. The attend
ance OF Stockholders was rather limited, only
go shares Of the stock being now in Federal
currency, and of those there were but about
thirty shares represented at the meeting. The
balance of shares, 5,O27, are in sterling curren
cy of e1OO or S4s4 each, and these were not
represented.
After presenting the annual reports of. the
President and Directors, the Treasurer and
Commissioners of the Sinking Fund, the meet
ing adjourned to the first Tuesday of August,
1856, at 9 10 O'Clock P. M. The old Directors,
by statute, hold over to that time.
The report of the President says the receipts
of the Grand Trunk Railway Company CON
tinue to show favorable and steady increase.
The net revenue for the year 1854, on the At
lantic portion Of their line, Notwithstanding
the large expenditures by the Lessees, in re-
pairs and renewals, amounted to S3O4,9171S,
which provides for all the interest upon this
Company's debt, and leaves a large surplus,
nearly sufficient to pay the. interest on the
Share Capital, at the reduced rate of four per
cent. $50 sroa /,
The Treasurer's report says the stock is di-
vided on the books Of the Company, as fol-
lows: 3. ,.... Il 81
$40 shares in Federal currency, of et
500 each, ls M $61, 900
1927 shares in Sterling currency, Of
e100, or $4S4, each, sicsl 3,433,o6S
81 fractional share rights, result
ing from the conversion of
Federal into Sterling shares, ,e.s.,
SIG each, 1872
Total upon which rent is payable, $3,494, 900
The dividends upon the sterling shares are
paid at the Grand Trunk Railway Office in
London,-those upon the Federal shares are
paid at this Office Two dividends of two per
cent each, according to the terms of the mod
fled lease, for the six months ending with
June Both and December 31st, 1884, have been
paid. The dividend for the six months end
ing June SOth, 1856, of 50 per share, less the
excise tax, viii be paid on the first of August
next. ~, t-r rssF rrre5-.e4
The debt of the Company now stands on
the books as follows: 4g 2 h maS IS
Obligations to the City of Portland
4 for their first and second Loans, s1,5OO,OO0
Mortgage Bonds of April 1, 1851, 947,9Oo
Mortgage Bonds of Oct. 1, 1S645 20s 539.66O
Amount due Grand Trunk Railway 81 81 gl.ll
Company, balance on exchange ga
of bonds, to be adjusted in the flu II
ture issues, 40
Sterling Bonds of Nov. !, 1851, on 8 ~
Is years,-6 per cent, payable in ..,.. s
London, 2100,O O0-without mort
gage, $4,000
Total funded debt, $3,472,0OO
The contributions to the Sinking Funds for
the past year. S22, 500, provided by tie Acts
authorizing the Loans of the City, have been
paid. The aggregate of the two funds, July
81, 1866, is S49O,941.97.
The Interest on the debt of the Company
has all been provided for, as it matured, by the
Lessees. aHo H.
The net receipts from the Atlantie & St
Lawrence portion of the Grand Trunk line,
or the year 1884, as returned to me by their
Secretary and Treasurer, amounts to $780,
917O3. -ft tRdt}1
The interest on the debt of this
Company, at per cent, is, $20s,32O
The interest on the stock, at per
cent, is, 99796
Total, S3OS, 116
1t will thus be seen that the receipts were
yearly equivalent to the whole charge for in
crest, no allowance being made for the expense
Of paying a large part Of the amount in Lon
Ion.
The increase in the gross receipts of the
whole line of the Grand Trunk Railway, for
She six months ending June 30, 1865, over the
corresponding six months of 1884, is S194yS05.
The relative proportion Of this increase on the
Atlantic & St. Lawrence line, for the same
period, have not received, at the time of
making this report; but from such information
,ls is at hand, / infer that proportienate part
i derived from this line.
The above will doubtless be regarded as a
very satisfactory exhibit of the finances and
uture prospects of the Company, as it indi-
sates sure basis for the value Of the property.
The report of Commissioners of the Sink
ing Funds states the present amount of the
fund on the City Loan of s1,OOO,OOO, which
viii mature at various periods from 1883 to
1871, to be s34O,4S6.11. The Fund on the
Jity Loan Of $500,O1O, which mature; Feb. /,
1911, is S150,455.s6. Total amount of both
unds, S49O,94197, which are safely invested
The Commissioners say that actual measures
we're entered upon, within the year, to supply
he DEFICIENCIES due the principal of the funds
or 1873. But the arrangements of the
currency here, and unexpectedly high rates Of
money abroad, rendered these efforts unavai,,-
ing for the time. We have no doubt but that
ihese arrears will eventually be made good.
This would add over $4,000 to the aggregate Of
she two Funds. 4e--. j
THE ADVANTAGE OF MARRYING A