The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-08-05
Atlantic q 81. Lawrence Railroad.
The annual reports of the Directors and
Treasurer of the Atlantic s. st. Lawrence Rail
road Company was presented yesterday.


| The annual reports ,of the Directors and
Treasurer of the Atlantic s. st. Lawrence Rail
road Company was presented yesterday.
DIRECTORS REPORT.
| The Directors state that the relations OF the
Company with the Grand Trunk Railway Co.
continue satisfactory. the latter having prompt
ly paid the interest due on our debt and two
dividends of per cent. each have been paid
the stockholders of the A. 81 ST. L. Railroad by
the Grand Trunk. Extensive repairs are re-
ported the past year and the stockholders are
congratulated on the change of gauge SO as to
conform to that of all western lines, as highly
advantageous to the traffic of the company.
In Portland the Grand Trunk Company are also
rebuilding and charging Atlantic wharf, which
was destroyed by fire last August, and remov-
ing the old freight station to make room 1or
tracks and approaches to this wharf. The new
wharf will be provided with sheds, and is in-
tended for the special accommodation of ocean
steamers. A new freight shed is in process OF
construction on the company's grounds on Fore
street, which will be devoted to city business
These works will doubtless be completed in
season for the winter business. The Lewiston
and Auburn road was opened for traffic in July.
1t is thoroughly built and has iron bridges and
steel rails. 1t is under lease to the Grand Trunk
Company aud in connection with our road
gives them new and independent line to Lew
iston and Auburn The report is signed by
Hon. John B. Brown, President.
TREAsURERs REPORT.
Charles E. Barrett, ESQ.,, Treasurer, in his
twenty-eighth annual report for the year end
ing June 3Oth, 1874 says:
The Grand Trunk Railway Comply of Canada,
the lessees OF the road, operate it on their own
account, and receive the income and pay all the
expenses. My report is therefore limited to the
share capital and to the indebtedness of the
company. The rent secured by the lease is
paid in the form of dividends upon the shares,
and of interest upon the bonds of the company
Both have been promptly provided for, the
past year, by the lessees.
The capital stock at ths end Of the year is J00O-
000 and is divided as follows:
346 shares in Federal currency of 500 eachs $4,000
1925 shares in Sterling currency of elOO,
SO fractional share rights Of Sic each. 5as
s5,OOOooO
The debt of the company at the close of the year is
80, 4S4 ,O00 funded as follows:
l. Balance of obligations to the city of
Portland first mortgage, with sink
q. ConpduyS SteriiDS DOnuS OF NOV ],
1853 on % years, $1,000 Or. 4S4000
g. Companys I'd mortgage Sterling bonds
of Oct. l, 1864, 2us, e3O9. 900, or. ,499 DIG
f. Company's Sd mortgage Sterling bonds
of May /, 1871, 5-20s, SLY 300, Or. 1882
b. Small balance due on exchange of
bonds. ......................... 1852
S3,4s4,OOO
There is still small balance, $1,000, of the
bonds, issued in 1851, outstanding,
which have not been presented for payment,
and have no means of ascertaning Who holds
the bonds. The money being ON hand for
their payment, the amount does not appear in
the above funded debt.
Two semi.annual dividends of 8 per cent
have been paid OH the Federal shares the past
year. The dividends on the Sterling shares, at
the same rate per cent, are paid by the lessees
in London.
The sinking fund established to pay the bal
ances of the obligations of the company to the
city of Portland now amounts to 1927 ,959. 60.
This amount is invested in Portland bonds
(S9S,0OO) and the balance in real estate mortgl-