Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1873-02-27

EECtOE.
| Geo. ". Pat!eu announced that 4. d.
| Lockwood, in consequence OF having remov-
ed from the State, was not candidate for
reelection Director
| The Chair appointed to receive. sort and
count votes for Directors, the following com
nli.tee Joshua Nye Of Augusta, James F.
Rawson CT Bangor, and Geo. A. Phillips OF
Watervil.e. This committee having received,
reported through Mr.. Nye. the Chairman, as
follows:
Whole number Of votes ,apxn, q, sos shares
Necessary to choice, 1920
The following named gentlemen received
more than that number and were declared
duly elected Directors for the ensuing year
Richard d. Rice of Augusta,
John B Brown OF Portland,
Abner Coburn of Skowhega
Noah Woods Of Bangor,
Geo. II. Patten of Bath,
Geo L. Ward Of Boston,
DaIius Alden of Augusta,
Arson j. Morrill, OF Read1eld.
Horatio n. Jose Of Portland,
l.. Strickland of Bangor.
Lewis Pierce of Portland.
This Board differs from las. year, ; by the
substitution of Lewis Pierce for r. B. Damn,
and Noah v GODS for \. b. Lockwood.
On motion Of J. II. D-ummond, it was
voted that article third of the bylaws be
amended by striking cut the wcrt "Febru
Any ard inserting the word ".5ayc!,' % that
the said article shall provide for the annual
meeting to be held en- the fourth Wednesday
of March, instead Of en- the fourth Wedues-
day of February.
RESOLVED, tina. the Stockholders highly
appreciate the long, srduous. faithful and
able service in their behalf Of Reuben B. Dunn,
ESQ, and tender him on his retirement from
the Board of Directors their best wishes for
his prosperity and happiness.
On motion of J. NJ. Patten,
RESOLVED, that the stockholders deeply
regret that by the removal OF 4. d. Lock
| God, Esq, from the State, they lose his
valuable services from the Board Of Direct
ors, and the State loses I. citizen who has
| done so much to increase its wealth and
prosperity by building up It's manufacturing
| and railroad interests.
On motion of ARENAS .iAaey uf Augusta,
adjourned without day.
At Directors meeting subsequently held,
II. D. Rice, was re- elected President; Arson
p. Morrill,, was re- elected Vice President
Josiah II. Drummond was re- elected Clerk.
| Adjourned.
| From the report Of the Directors, we learn
that the receipts of the road for the past year
were 81 1886 AIS. 20. showing an increase over
1871 of 1870, 269. Oh. Operating expenses
| 81, 329, 64l.39 net earnings, 5000 S37 80
| showing an increase over 1871 Of Sl352 GG g.
| Receipts from passengers, 1877 ,40S.12; from
freight S947, sos. 10; from other sources, Sll,
255 IS. Number OF miles run on passenger
trains 532, s0I; on freight trains, 397 $40; on
wood, construction and shifting traips, 25s,.
| 1856. Total miles run, l,lSG,SS3; average
| cost per mile run, SLIP. Namber of pass.
engers carried G72, 2l5, being an increase o.
| S7,T06 and showing q combined travel of "a,
1904 one mile. The average distance
Travelled by each passenger was 81 miles. The
number Of tons Of freight transported has
been $50, 2S6, being I'm increase OF l,o3s
tons, showing combined transportation OF
81 ,03i GAG tons. The improvements made II
the road, in the building of bridges, stations
ETC., are referred to, but these were given II
the Railroad Commissioners report. Tht
Directors are of the opinion that the secont
year of united or consolidated experience has
demonstrated the wisdom of the policy. /
is hoped to begin the payment OF dividends
when it can be entered upon without any dan
ger of interruption or discontinuance. VIII
existing roads, with the possible exception o
the Boston & Maine, the corporation is on th'
best of terms. The report was drafted by
Judge Rice, for the Directors.
The report of the careful and competen
Treasurer, j. S. Gushing, follows that of th'
Directors, its entire accuracy being atteste'
by the Auditor, j. A. Linscott.