The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1870-01-04
Annual Meeting Of the Rutland
Railroad Company.

The annual meeting of the Rutland
Railroad Company was held in Rutland,
on Friday last, Gov. Page presiding, B.
b. Smalley clerk. The president SUBJ
mitted the report of J. M. Haven, Treas
orer, showing the business for the year
ending Sept. 30. Receipts-Freight. $780,
468 "a passengers, 1922 ,285 % mis-
cellaneous, S43,l0 06; total, 1874, 1856
l2; expenses of operating and maintain
road, 1857 1926 SO, The following in
cludes the main items Freight depart
ment, slO6,90l 10; passenger, 500, 226
80; repair of road and bridges, SlO2,-
OF 10; fuel, $120,924 03; taxes and
salaries, s49,4l2 10; locomotives, $780,.
735 IS; cars, $4,000 II; stations,
S31 ,4S9 95-the expenses being 7s per
cent Of the net earnings, showing a bal.
ance of sl87 ,329 q. A large amount
charged current expenses by the trustees
would, under corporate, be chargeable to
construction account, where they properly
belong, and thus reduce the operating ex-
penses. During the year there had been
to the rolling stock 4 locomotives at an
expense of SAG, 900; passenger cars, at
$1,000; LAG freight cars, s92,739 +;
docks at Burlington s75,077 25 nine
stations, $4,000; expenses of freshet
last spring, $4,000, two additional new
freight locomotives Sept. Both, at s26,.
600.
The earnings have been 1862. 1922.
500 II; 1868, 1923, OPT As; 1864,
s620,S95 95; 1865, S727,53s 35 :
1866, S787 ,434 81 1867, 1928, 1856 "a;
1868, sSl6,44S OF; 1865, 1874, S55 ID.
Passengers in 1869, 2l1 GIG; increase,
1879. Passenger receipts in 1869,
1922, 2S5 %; increase over 1868, S23,.
79l 80. Tons Of merchandise in 1869
230 ,067 increase, 1888. Receipts
from merchandise in 1869, $685., 1853 "a;
increase, S30,4S6 go. Number ofmiles
run, 679,669; increase S9S38. Schedule Of
equipments Of road: locomotives 30,pas.
senger cars 20, baggage 9, sleeping 3,
freight 745. The rolling stock is ali in
good condition. and large portion first
class.
Balance sheet. Crcdit-Stock, 90, 0O0,.
600; preferred stock, 1881 400; bills
payable, S265, 4S8 o.; sundry accounts
$40, $40 20; total, s5,l73,22S %
Debit-First mortgage bonds, &l,0l2,.
900; coupons and interest, $sl9,40O
second mortgage bonds retired, 81, O83,.
900; coupons and interest, S1,023, 800
real estate, docks and cars, S444,52l 25
Total, S4,3S1, 74l %. Dividend account
slS2,2S7 common stock to retire SECOND
mortgage bonds, s223,5OO; stock OF
hand for other purposes. 1886, 700
Total, s5,l73,22S 20. August dividend
in 1869 Oh preferred stock, s67 900
outstanding on the Rutland and Burling
ton Railroad second bonds, $4,000
first bonds, S7Ss.O00. The company il
authorized to issue preferred stock to tn,
amount necessary to retire first mortgag,
ionds outstanding. About 81 500, 900 i
required to discharge bonds, coupons an,
interest. When oil the bonds are ex
changed for stock the credits of the Rut
land Railroad Company will be $4,000.
900. The net earnings, s44S,0O0, woul,
enable the company to pay sever
per cent. dividend Of stock. An adequat.
amount Of rolling stock to meet the bust
ness would in few years bring the ne
earnings to this point. Had the roa,
controlled sufficient rolling stock the ne
earnings would have been increased I,
100000 the current year.
The president, in addition to the Treas
urer's report, recommended additions I,
rolling stock and perfecting the connec
tons Of the road There are POI mile
of road operated by the company. viz
Rutland, Vermont Valley, Montreal an,
Plattsburgh, Whitehall and Plattsburgh
and steamer Oakes Ames. The account
were closed Sept 3Oth, since which tim
some extraordinary expenses have beef
caused by the October freshets, prevent
ing running through to Bellows Falls 70
twenty-five. The estimated cost is Fo
repairs Of road. ll9,825,00; loss of in
come in October, $4,000. Ninet,
thousand dollars Of this sum is properly
for repairs, and the balance was expended
in such permanent improvements az viii
make it better than before.
The President then made various sug
gestions relative to increase of the connec