The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1871-01-18
Portland 4 Ogdensburg Read.
ANNTIAr MEETING


| Portland q Osdessburg Read.
ANNUAL MEETING.
The annual meeting of the Portland &c Og-
dansburg R. r. Co, vas beld yesterday morning
at the compapy's Office, Hon. w. W. Ihomas
presiding az chairman and Hon. A. II. stevens
officiating US clerk. Tue first business OF the
meeting was the hearing of the reports of the
Directors. Chief Engineer. and Treasurer. All
the reports were accepted and Messrs. Wash
burn. Jr.. William Ross, and Chas. z. Jose
we're appointed committee to audit the Treas
urer's report.
PRESIDENT AND DIRECTORS REPORT.
The President and Directors report give a
resume of the history of the road. The first
shovel full of earth was thrown on the 9th Of
! September 1869, and on the 18th OF September,
| 1870, passenger cars were run over the road !,
and on the 10th it was opened for regular
freight traffic. On the 7th of November the
rad was opened to Steep Falls and on 26 b
Dec. to West Baidw 80 miles from Portland.
Tue 16 miles between West Baldwin and Frye
onrg are ready for the rails and. ~ WAS cOhclud-
" 10 delay laying then this season because an
IRON bridge ought to be put over the SacO at a
point WnIch was the most important crossing
Vi that RIVER on the IOnie. A turn-table and
temporary buildings were erected tor the en-.
glue aud freight that would accumulate at
West Baldwin. Is is expected that the iron
bridge which has been contracted for, will be-
completed and construction tralus running 80
hat regular trains will run to Fryeburg in
June OF this year. Ia order to meet liabilities
Insured in building the road wi b cost Of roll.
y" stock. hu'dines. etc, aud :" reach the great
central point of summer trave beyond the sub.
.npAoa " S2UUvVO ~ Was ue.-I mined bv a
VoIe Ut the Stockholders held on Oct. 28th 1870,
20 issue six per cent. gold mortgage bond to
The amount Of $4,000, and from the salisfac-
cory exhibit of the business of the road and the
ample security behod them amounting to less
man the cost OF superstructure, ruliing.stock
and improvements, the bonds will no doubt be
readily taken by those having mOpey to invest
Tue laws Of Maine give such protection to rail-
road bondhOlders that no better security can
be desired by capitalists. So confident are the
Directors OF the superiority of these bonds and
Lne prob able demand for them that they have |
treated, contracted for and commenced the |
construction Of the road beyond Fryeburg ex-
pectiUg to reach Conway in time to enjoy the |
benefits of the Summer travel to that pace as |
ibis route will be found easiest to the White |
Mountains from New York and Boston.
In regard to the ear nings of the road it was |
not expected it would pay expenses the first |
lew months. To the Directors great surprise |
and qualification it not only paid running ex- |
penses but the salaries of all The officers aud |
leIt 0auoSOme surplus. 10e WOTO OmcefS In |
cludes the Executive aud Financial officers as |
we'll as road master. master mechanic, freight |
master, in tact all the organization that will be
rQured when the road ia running to North |
Conway, and these earnings come from short |
section o. II miles which was the distance run |
till The 7th November last, and at a season whom
the travel is at minimum, and the freight car |
ried has been three times the amount since the |
road was opened to Steep Falls than when its |
terminus was at Sebago Lake. The amount |
l,n l,,n
greater than 10 any preceding mouth, showing
that, with the other statements, the local |
business will make a first class road pay. The |
farther you get from the city the greater in |
The less competition with other lines, while the |
expense OF operating the road is but slightly |
increased in comparison. The Post Office De- |
partment has agreed with the road for tho car.
riage OF all mails that eau be supplied to the Of
fees BY the road, and the Portland 8 OqdeDs-
burg now supplies 40 Offices. The greatest en-
couragement in regard to the local traffic is
that while already constant paying business
is obtained, the undevelOped country through
which the road passes will afford immense adj
vantages when acquainted with the facilities
afforded by the road, stimulating agriculture,
utilizing water-powers SC. The Presunpscot
river has 15 distinct falls, aggregating 228 feet
fall III II miles, itself tue outlet Of Sebag0 Lake.
eventually your road will pass through man
ufacturing. village OF miles in exteIt; great
amounts. of freight pass dc wn over Lake Sebago
when lake navie ation is opened in the Spring
which will be contained III the freight depot
erected there; the great resources Of the Sac0
River with its saw-mills, lumber aud magnif-
cent powe for manufactures have already at
tracted the attention of capitalists in this aud
other States; all to be opened up by the con-
structon of this hne. The ext ting business is
good through this country, the prospects for
the future immense.
The rolling stock amounts to 4 locomotives
(three of them from the Portland Coz 4 pas
senger cars, smoking and conductors cars, and
60 freight cars, and additional freight carriage
Is contracted tor TO meet the increasing de-
nand. The Directors have purchased during
the past year land with 450 feet frontage on
West Commercial street extending to Fore riv-
er, with water front of the same width and
depth of water sufficient to float vessel OF
thousand tous, also depot lands at SouthWind-
ham, at White rock in Gorham with an excel
lent water station at Sebago Lake with Is acres
of land giving shore right of a mile in
length, at Richville in Standish aud Steep
Falls. At the latter place Hon. Tobias Lord
has erected large and elegant passenger and
freight depot, at Bald win Mr. Richard Chase
and Others have done the same as well as the
Inhabitants of West Baldwin. At West Bald.
win there is also a tank for the water station
holding 1000 gallons. Dspots have been erect
ed at all the stations. and in Portland an en-
CINE house, car house, machine shop with tools,
and others will be erected a. needed. The
|
fools of last spring, when other railroads suf-
tered this roae Pc rio ndood no damsge from
its cap cious culverts aud other water ways
The Railroad Commissioners report that
having examined the road they find it in safe
COZ dition aud its rolling and equipments
In good order.
A. the other end of the line, in Vermont, the
progress has been most satisfactory. 30 miles
having been put uoder contract aud wlil o.
graded and ready for the rails at the close of
this year, while 25 miles will be equipped and
put In roaming order this summer.
In conclusion the directors say knowing
that rival interest was pushing It's rsils up
into the heart OF the country reached by the
First DIVISION of your road, namely, conway.
they have 40 pushed things that they have Sc.
Cured 10 Portland all that valuable trade of
Western Maine as we'll as the mountain region
OF New Hampshir, that would otherwise have
gone to Boston.
CHIEF ENGINEERS REPORT.
The engineer reports the completion of the |
road to BALDWIN,, 80 miles from this city, with |
the requisite sidinps, stations, freight houses, |
engioe stables, woed sheds, turn tables and
water tauks with the compete construction OF |
the road bed TO Fryeburg ~ miles out IN en-
tire readiness tor the rails excepting the
bridges over Break-neck, Ten-mle, aud Lit
tie Saco brooks, aud the one over the Saco nv.
er which will be OF iron similar 10 form 10 that
over the Kenhebec at Augusta and under
contract to be erected in March by the same
contracting parties. Preparations have been
made to have these bridges completed and
cross ties distributed this winter SO that the
rails may be laid to Fryeburg as early in the
spring as practicable to get the summer traffic
from that place. The engineering force resi-
dent on the tour divisions comprising the 49
miles have completed their labors with skill,
fir dealing and courtesy to all and particular
ly to the Engineer.
The s. IN DIVISION Of the road-10 miles in
length-from Fryeburg 10 North Conway, was
resurveyed in November and has been let to
the same contractors who graded the "a, 3D.,
and 4sh. The work this division is under
the charge of Mr.. 7. E. Poverty and is bein
pushed at every available point permitted BY
the winter season. s. L Stephenson has made
a more deliberate and closer Instrumental ex-
animation of the two or three mil, 8 along the
East, Ellis, and Rocky branches Of the Saco
River in the town OF Bartlett, N. 81. (belong-
ing 10 the 9th division) than was practicable
on the deep snow Of February, March and
April 1869 when the first and only previous
surveys were made. File found a satisfactory
| liue as to grades, aligpments and probable cost
| of construction thus clearing the way Of all
difficulty as tar no SacO Valley as Sawyer's
river, within eleven miles. Of the Notch sum-
nit
Mr.. Geo. Wadswo-th. resident engineer of