Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1870-03-03
MAINE CENTRAL RAILROAD
Annual Report of the Directors The
Argument for Consolidation

The annual meeting of the stockhuld-
crs Of The Maine Central Railroad Com
pany hrldn WatcrviIlc to-day. We
give below the material portion, oi the
report presented by the directors:
The interchange Of commodities be-
tween this Stale and Ma-sachu-,tt, has
been increasing aud would along his
line ~ road ~ very much increased bur
tor the break pt gauge nj Portland aud
the delays aud expenses incident To il
This evil must in some way be speedily
overcome, IT We would derive til. full
hcncht from the natural growth of bust
mess on this line Of road Ii might in A
great measure BE- removed If il were
possible - secure any accommodation,
at Portland cud OF the Boston road. for
receiving commodities from this road.
There arr practically no greater accom-
modation, than there wcr. tiftecn
wears ago. Every thing ha- to BE- done
out doors. in the open air. now a. then.
LATHE II amy Improvement in the track
acco amodation- in fact we regret to
say. the spirit nt Improvement in ac-
Communications j. not found there II j.
not Tor the want of adequate means. for
the earnings of that road are ample To
make all The necessary improvements
there. In some way, these shacklc
upon the Interchange OF traffic. MIST be
removed
The work ON the two branch roads
that when completed. are To be connect
cd with Thu road, Ina. been prosecuted
during the past year with commcndablc
vigor. The West Waterviile line il well
nigh graded and ready for the rails to
Madison, and the line from Burnham To
Belfast is 80 tar completed, in the way
oi grading, that the having OF rails will
be commenced early i'll the spring. Tie
traffic upon the branch 10 Dexter, ha,
proved quite ~ great as we had any rca-
son 10 expect, duri * the frs year oil its
operation. Short lines can only be work
ed with profit III this State by large cor
porations with which they are connect
ed. In this way the surplus rolling
stock required for the larger corporation.
can in part be transferred. to work the
short ilues, and the shops of the larger
line are available to perform all the ncccs-
sary repairs for the branch road, thus
saving the cost ofall such fixtures for
the short lines.
During the past year conferences have
been held between the directors OF this
Company. and OF the Portland and Ken
nebec, and the Somerset and kenneDec
Companies, with the view oil harlnoniZ-
ing their interests, and OF uniting them
under one corporation, and of course
one management. During the twenty
years past great amount Of time, efforts
and money have been spent bv these two
companies, that has not Injured To the
benefit oi any one. and there seems like
a Ii 80 a he
by uniting their interests into one man
ageinent and one corporation. The re-
suit OF such an arrangement to the com
panies embraced by IL, would beyond
all questions prove highly beneficial. |,
will stop the waste above alluded to and
reduce The expences OF management, and
thus enable them to give greater iacili-
ties to the communitiesthrough which
they run, besides enabling the stock
holders TO realize something on their
property. And above all and more than
all, it will enable them to 90 into the
money market with their securities,
based upon the combined property of
the new corporation, with vastly in
creased credit to raise money to meet
the bonds vi the several companies,
soon TO mature while the public will
obtain Increased accommodations and
facilities OF iater-communicatioa be-
tween the several parts of the two lines
OF road now practically closed to this
kind Of traffic. For instance, while
these roads are separate, as they are
now, the productions OF Somerset coun-
~ cannot reach any portion of the line
of the Maine Central road east Of the
point OF crossing at Kendall's Mills. and
vice versa. Nor can the productions
pass from the various places on the line
Of the road east Of kendairs Mills. or
from the line of tho road between Dan.
vile and Waterville on to any part Of
the line Of the Portland and KenDebec
OF Somerset and kennebsc roads, and