The Portland daily press., 1872-02-29
Annual Report of the Directors of the
Maine Central Railroad.


trail Railroad Company, at the annual meeting
in Waterville, Wednesday:
THE RESULT OF CONSOLIDATION.
The contract of union between the Maine
Central Railroad and the Portland & Kenne-
bee Railroad, was executed on the 18th day of
May, 1870. These two corporations, each COM
posed of several others, constituted the founda-
ton of the present system. They united under
a lease of the latter to the former, on terms of
entire equality. The name, "Maine Central
Railroad, was retained as more fully describ-
ing the present and prospective situation of our
enterprise than any other. Under this title we
propose to maintain our organization, and make
our Company truly the Central Railroad Of the
State
Last year the former organizations for oper-
ating the roads were necessarily kept up, though
the interests of the corporations were identical.
This year the working organization has been
fully merged and all that is noW-feft of the for
mer separate organizations, practically, is their
technical corporate existence under their chat
tiers. 1t would be matter of convenience if
this technical separate existence should also
cease ska
The principal results anticipated from Union
have been reached Uniformity of gauge has
been attained-our rolling stock has been re-
duced to common standard, and by the con-
struction of about twenty miles of new road,
we can now pass freely, with the same cars and
engines, over every part of the road, and run
our trains, without interruption, by night and
by day from Bangor to Boston. The general
condition of the road has been much improved,
and it is now equipped with sufficient motive
power, and rolling stock of as good character as
can be found on any road in the country.
The increased accommodations which these
changes and improvements have given to the
business of our people cannot be over estimated.
When the additional improvements contemplat-
ed by the board are perfected, we hope to pos
sess an institution inferior to none, and that will
transact the business of its customers at rea-
sonable rates, and at the same time make salts
factory returns to its stockholders.
THE YEARS WORK. .,a
The total earnings for 1871 (which include
earnings of Androscoggin and Leeds & Farm
lngton roads for six months, and Belfast &
Moosehead Lake road for eight months only)
have been ST. 1866, 21O.25, of which 1886, 913 IS
were for passengers, $795, 921.7l for freight,
$70,7O0.8 80 for mails, express car use, &C., and
$2,734O6 for rents and other miscellaneous
items.
The amount of ordinary operating expenses
has been 81. ,63S.97. We have also paid out
in expenses incident to change of gauge, per-
manent improvements, and in damage occa-
stoned principally by the calamity at Hampden
bridge and by the collisions at Farmngdale and
Freeport the sum of $115,455. The cost per
mile has been $1.19; or if we exclude the ex-
traordinary expenses above referred to, 1.29.
The whole number of passengers transported
has been 5S4 507, showing q combined travel of
2O,932,59 one mile. The average distance
travelled by each passenger was Sc miles; the
earnings from passengers per mile have been
Sl.66 I-l0; the average price per mile for pas
sengers is three and one-third cents. The whole
number of tons of freight transported has been
3l4, 800. 05 at an average of 2.62 per mile, or
and $40 cents per ton per mile.
The number of miles run by engines during
the year has been 923, $685. of which Ais, ops were
connected with passenger trains, and 326,786
with freight and 1878 with construction,
wood and other miscellaneous trains. v
THE DEBT OF THE COMPANY.
The interest bearing debt of the company, in
Guiding the stock of the Portland & Kennebec
railroad Co., the stock scrip of the Maine Cen
tral Railroad and the bonds of the Maine Cen
tral and the Portland & Kennebec, Somerset &
Aennebec, Androscoggin and Leeds and Farm
lngton Railroad, and also all outstanding notes
and bills payable Dec. 81, 1871, is $7,9S9,014,
being So, $50 per mile of road Add to this the
capital stock of the road, $3.434, 500, and the,
whole amount will be $11, AZ, 534, or $32 900 per
mile for the road, and an equipment of so loco
motive engines, % passenger and baggage cars,
$50 freight cars, "a station houses, and liberal
supply of materials of all kinds for operating a
railroad H-
I 4 A YEAR OF ACCIDENTS.
Our losses from accident have been great.
The calamity at Hampden bridge was without
precedent in our history. The change in our
system subjected the principal line of our road
to heavier, mole numerous and in some in
creased pressure upon the road the Directors
had made corresponding and as they supposed
adequate provisions. They had placed the
whole road under the special supervision of
man of large experience in the management of
railroads, with Instructions to keep the road
safe beyond peradventure, and ample means
were at all times at command for this purpose.
The structures on the road, and this bridge in
particular, has been repeatedly inspected under
his directions, during the season by competent
bridge builders, and also by the Railroad Com
missoners and although the latter had sug-
gestcd that this bridge should be strengthened,
and the material for that purpose had been pro-
vided before the accident, no party appeared to
have been impressed with the idea that there was
any immediate danger to be apprehended But
the truth was that latent decay had made greater
progress in the structure of this bridge than any
of the parties scrutipizing it had supposed. We
have regretted to observe an apparent inclina-
ton on the part of some parties more or less di-
rectly connected with this sad calamity, to shift
responsibility from themselves and impose it
upon other shoulders. The manly course in
such cases is to state facts and let Responsible
ty fall where it belongs. &JNkW8 ttbNGI
The instances of collision were cases of neg
ligence on the part of employees in charge of
trains i5l
RELATIONS WITH THE Boston ROAD.
Our relations with connecting roads arc un
the whole satisfactory. With the Eastern and
Portland, Saco 81 Portsmouth Railroads, we
have concluded q favorable and mutually bene-
fetal contract for the transportation of our pas
sengers and freight between Portland and Boss
ton, and on these roads, in connection with our
own, we now run through trains by day and
night between Boston and Bangor These
trains are fitted up in a style Of Convenience
and elegance unsurpassed in the country. This
arrangement has proved of great advantage to
the business and travelling public, and is re-
road shall have provided the facilities for the
accommodation of freight in Boston, contem-
plated in our contract, this will become one of
the best passenger and, freight lines entering
that city. .,I.t r n. fit)A
With the Boston & Maine Railroad our rela-
tons are not so well defined as we could desire
In consequence OF some supposed conflict of
interest between them and the Eastern, the
joint use of the Portland Saco a. Portsmouth
road which has existed for many years, has
been legally terminated, and the Boston and
Maine has commenced the construction of an
Independent line into Portland The construc-
OF this line is now being prosecuted with vigor,
and will be completed at an early day. 2 This
disruption of former interests is much 20 be re-
GREETED, MS the Portland, Saco \ Portsmouth
road Is of ample capacity now, and with the
addition OF another track would have long been
able to transact all the business going west from
Portland. The construction of an independent
road will involve an expenditure of from two
to three millions of dollars, and large addition
al cost for its operation All this additional
cost and expense must, and ultimately will, be
We'hope, however, that when the managers
of the Boston & Maine road shall have COM
pleted their new line, we shall be able to make
permanent running arrangements with them
which shall be mutually beneficial and satisfac-
tory.
THE EASTERN ROADS AND THE GRAND TRUNK.
The Directors feel assured that n large busi-
ness must come to the Maine Central by the
opening of the Knox & Lincoln and European
q North American roads, with the prospect of
business to be derived from them They say
friendly relations have been maintained with
the Grand Trunk and anticipate an increase
in Western business by the use of adjustable
gauge cars, opening direct communication be-
tween Canada and the eastern provinces with
out breaking up.
The Board congratulates the stockholders on
the good condition of the road and on the fat
tering prospects of success.
The Philadelphia Press speaks in the follow
ing terms of the new collector of Philadelphia:
Seth l. Comfy, nominated as Collector of the
Port of Philadelphia, is the right man in the
right place. He is the representative of no fac
tion-belonging neither TO the house of York |
nor of Lancaster-neither to Capulet nor Mon
tague-a broad, genial, fearless Republicans |
merchant without stain, a gentleman without |
dishonor, friend without fail. We greet him |