The Portland daily press., 1869-02-09

PORTLAND AND KENNEBEc RAILROAD Com
PANY.-The annual meeting of the Portland
and Kennebec Railroad Company took place
at the Portland depot yesterday afternoon at
21-2 o'clock. George F. Patten, Esq, of Bath
was chosen Chairman, and J. c. Gushing, Sec,
retary. Messrs. Darius Alden, Fl. N. Jose,
and Patten were chosen a committee to nomi-
nate board of directors for the ensuing year,
and they reported the old board for reelection,
which was accepted. We gather the following
informa ton in regard to the road from the di-
rectors' report for 1868.
During the past year not trip has been
lost and very seldom have the trains been be-
hind time Few injuries, of little amount
have happened to property, and few accidents
to persons They have transported 3O0,6S3 pas
sengers, amounting to 24S,637.2O, and 1494l9
36-1OOths tons of freight, amounting to $780,
.72, and have received from other sources
$35, ,722.43, amounting in all to $685. .35, an
increase from last year of $23,35219 Thew
have purchased territory during the past year
at Skowhegan, Kendalls Mills, waterville.
Augusta, Halo veil and Yarmouth junction.
which gives them increased facilities for erect
ing new buildings, furnishing accommodation
to the lumber trade, storing cars, SC. At Hal
lowell extensive side tracks have been put in
and stone plateau erected for loading gram
ite. They have erected freight house at the
Junction. During the season they have laid
$50 tons of new iron and 200 tons of repaired
rail, and put $4,000 new cedar sleepers into the
track. Twenty-seven miles of new fence have
been erected, bridge at Winslow repaired,
twenty-four culverts rebuilt with granite. a
new bridge with heavy stone abutments erect
ed in Bath, and heavy abutments relaid at Fall
mouth cut; new turnouts put in and old ones
extended some 5000 feet in extent
To the stock one new mail car, one baggage.
thirteen box and fat cars, and ten section cars
have been added. Engines have been rebuilt
or extensively rebuilt, five in number, and sew
eral others reftted. One light second hand
engine has been added, to run in certain in
stances, and relieve heavy machines at less ex-
pense. Rolling stock all in good condition,
more cars however are needed The general
condition of the road is satisfactory and their
relations with other roads friendly. Reference
is made to the new lines of railroad underway
from Bath to Rockland, and from Belfast to
Moosehead Lake. Also, to the proposed ex-
tension of the Somerset 8 Kennebec Road to
Carritunk Falls. In regard to the latter road
route shorter by several miles, and which
will substantially accommodate all the bust
ness of the river, has been surveyed and found
of easy construction from Skowhegan through
Madison, and by way of Patterson's bridge to
Solon. Permission to conform to this new 10.
cation has been asked of the present Legisla.
| ture. rrfeasEte az r e 49,. n
In the fall of 1870 their city and town loan
will mature. At that time their sinking fund
will have absorbed one-half of the debt, OF
about 100000. To meet the balance the com.
pany have special authority of the Legislature
to issue bonds payable in 30 years from 1866
secured by a mortgage of its whole property
sufficient in amount to redeem the balance o.
the city and town loan and all its other out
standing Indebtedness Thus concentrated in
these consolidated bonds the whole indebted
ness of the company will be less than $1,000,
600. The security for these bonds will be mos
| ample, and they will constitute one of the
most desirable securities for investment to b.
found in the country. a ~
The prospects for an increasing business I'M
on their road were never more fattering thar
at present. aie
They have found those in their employment
| as usual, faithful and diligent.
From the Treasurer's report we learn tha
the liabilities of the road are as follows g,p
/ Less paid for bond burnt. 100 90 ~s 1
Less Sinking Fund ..... .300211 4S