The Portland daily press., 1871-01-17
aafAe Railroad.


The annual meeting Of this corporation was
held yesterday afternoon at the Reception
Room, City Hall. The President, Treasurer
and Superintendent presented reports giving a
clear view of the condition of the company,
which has been decidedly improved within the
last year or two
The cash received for transportation of pas
pengers the las: year, is $46,S34 05. Amount
received from all sources $52,076 60. Expend-
ed, $47,S26 49, Cash to balance, 4,249. In
crease on passengers receipts over 1869 S2,185.-
81.
The President introduced his report by re-
marking, II am glad 10 be able to eongratu-
late the stockholders upon the marked i'm
provement from year, in the business of the
company. We can pay dividend of per
cent. and have added about 1875. 90 to the per-
manent p:ovements-most of which have
been paid for completing a double track on
Congress street, and paving portion of our
track with wood. as per agreement with the
city. Excepting about $500, which ought to be
expended in some changes on the Westbrook
road, am not aware Of ally occasion for add
ing the coming year to our construction. In
the last two years we have expended about So
900 for that account
We run now, 1852 times a day on Spring
street. 120 on Congress street, and 80 times in
summer and SO times in winter to Westbrook
and return, and few trips less on the other
lines. 1t is believed by the directors, that any
increased running on these routes, though it
might add to the number Of passengers, would
be at loss to the company. 1t must be the
chief endeavor of the directors to reduce the
expenses whenever it can be done without re-
ducing the effective force or losing by an un-
wise cheapening of such services as the work
demands"
The superintendent says-"Cars have been
run the past year 365 days on the Westbrook
line, and all Of the working days and 30 Sun
days in the city. There has been no day in
which the people conld not ride in the cars to
and from their business. We still continue to
connect with the Portland & Kennebec rail-
missed a connection"
The whole number of passengers carried the
last year, was 1927 800. In city, 599, 80S; West
brook, 228 49,, less than 1869 by II ,281. This
is accounted for by the Fair Of 1869, when the
passengers carried in that month were in ex.
cess Of September, 1870, by 20 119 carried dur
ing the week Of the Fair. Comparing Sep
TENDER with former years, and we stand more
than $4,000 better than the previous year. We
also fell off in Westbrook in July and August
The travel to he Cemetery was not nearly SO
large as in former years, owing probably to the
hot and dry weather which induced many to
resort to the sea shore.
When the Superintendent took charge the
stuck of horses was 81. "There are now but "a,
and they are doing as much service as done in
any year since the road was established" The
road bed is in good condition; 300 sleepers have
been added on the Westbrook road. The track
has been Increased in the city. as per Presi-
dents report.
One paragraph from the Report we copy
entire. as we consider it Of great importance,
involving as it does the permanency of the
road.
"We have had some discussion, but could
not agree with the committee on streets, they
having ordered US to pave with wood a portion
of our track that was already paved with cob
BILE stone We think while ths city has the
right to say what material we shall pave q
track with that is not paved, they should not
order us to pave anew when the paving is per-
fect'y good and recently put down according
10 their order. At any rate, if they have that
power and enforce it, your road is not worth
running. We have put down about 200 feet
of wooden pavement at cost OF about 81 900;
the balance of your road, in the city limits
would cost about $4,000; and taking last
years business as an average and it would
take you ten years to pay for it without any
interest, and think it would want renewing
in that time. You can readily see where your
dividends would be. The soonerithe question
is settled the better it will be fol the company
in my opinion. Should it be decided against
you, think the best thing for the corporation
t. do is to sell out all Of the rolling stock, real
estate, iron, &c., and discontinue the road i.
The property will bring abous what the stock
is now selling for, that is, City cents on dol
lar.
The whole number of shares represented,
was about $780, and Jas. 7. McCobb, Charles B.
Merrill, H. Q. Weller, III. II. Kurdish and
H.J. Libby had majority Of all the votes and
were declared elected. The meeting then ad-
journe1.