The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1874-09-08
Portland & Rochester Railroad.
Letter of President zach.

L.
SIR:-Having been informed that an impress
sion prevailed that proper efforts had hot been
made by the directors of this road TO secure
connections with other roads for business, l
desire, on behalf of the directors, to state just
what has been done in this regard. The Port
land & Rochester Railroad was, as you know,
extended to Rochester for the purpose of con-
Meeting at that point with contemplated lines
between Nashua and Rochester, and Concord
and Rochester. If it had not been deemed
reasonably certain that one or the other of
these lines would be built the extension of the
Portland & Rochester would not have been I'M
dertaken as only the business anticipated from
this source would have justified its eonstruc-
ton. We had assurances that both of the
roads referred to would be built and ready to
connect with the Portland & Rochester upon
its completion to Rochester Unfortunately
for our interests, so far from such being the
case. the opening of the Portland 81 Rochester
wac celebrated at Rochester before either of the
other roads had been commenced, and we have
been left for more than three years to main
tain our road, bring it up to the condition re-
qured for frst-class through line, and pay
the interest on its cost with only the local busi-
ness, and the small amount of through busl-
ness derived from our connection with the
branches of the Boston & Maine and Eastern
Railroads at Rochester With these roads we
made the best terms we could for connecting
business at Rochester, which, considering the
natural business relations existing between us,
were as favorable as We had any right to ex-
pect
In the progress of our efforts to secure the
building of the Nashua & Rochester, and the
Concord & Rochester roads, we found it neces-
sary to offer 20 subscribe to the stock of both
roads, an amount sufficient to make available
the conditional subscription obtained for them.
We subscribed one hundred thousand dollars to
the stock of the Nashua & Rochester road,
which, by the aid it afforded and the influence
Thereby obtained in its direction, contributed
mater, ally to The success of that enterprise and
secured its connection with our line. This
road is leased by the Worcester & Nashua
Railroad Company, who pay six per cent inter-
est, free of taxes, upon its entire cost
We have entered into contract for recipro-
cal business with this company, which for all
Though business makes the line one in interest
from Portland to Worcester. The Nashua &
Rochester is open to Epping, 20 miles from
Rochester, and our cars will run to that point
| the present week. 1t is expected that the
| whole line will be opened for business within
| two months. That it has not been opened
earlier is our misfortune and not our fault. 1t
| is gratifying fact, and one which promises
well for our future business relations with
Worcester, that the contracts for building this
| road and furnishing the rails were given to the
citizens of Portland.
We made every effort to secure the building
of the Concord & Rochester road and ;effered
to subscribe one hundred thousand dollars to
its stock, but that enterprise was temporarily
& Ogdensburg was insured by the aid of the
city.
We have connection with the Maine Gen.
trail at MorrilPs Corner, and have had frequent
consultations with the managers of that road
in regard 10 connecting business. They have
assured us Of readiness to make favorable
business arrangements as soon as we make our
connection with the Nashua & Rochester road
Until that time we have nothing to offer. We
cannot take business fiom the Maine Central
do for or re m no ho lima IF
the Boston roads while we are dependent for
facilities to reach those points upon the very
roads with which we would have to compete
for the business. The conditions which exist
in regard to business with the Maine Central
apply also to the Grand Trunk at the present
time.
The extension Of our line west of Rochester
| made it necessary for us to secure more direct
communication with the front harbor and
wharves than could be obtained via the Maine
Central, and we sought that connection via
the Grand Trunk. Negotiations were opened
with Mr. Bridges, former manager of that
road, and terms for transporting our cars to the
front OF the city obtained and accepted. The
rate was fixed before the change of guage of
the Grand Trunk was decided upon, and when
it was suppose the expense Of laying a third
rail from the point of our connection to their
depot, with all the Inconvenience and expense
of switching with three rails at the terminus
would be incurred. Now that these difficulties
are to be obviated by the contemplated change
of guage, no doubt modification of the rates
may be obtained in favor of our road.
In order to reach the connection with the
Grand Trunk, it became necessary to construct
that portion of the Marginal Way laying be-
tween our depot and the Grand Trunk railroad
bridge, AID of such vital Importance was this
connection considered, that the directors of this
road were induced to assume the contract for
building the Marginal Way after it had been
abandoned by the City on account of the en-
cheering difficulties encountered. That work
has been successfully completed to the width
of twenty-five feet, and our rails are laid to the
Granp Trunk bridge, Our track runs along
water front of more than mile, and we have
terminal facilities equal to any road in New
England.
Not only has 10 opportunity been neglected
ana no effort on our part spared to secure BUSH
ness by connecting with other lines but we
have, as we have shown, aided to the extent of
our ability in creating lines for the extension of
our business, and we challenge the most search
ing investigation to show where any business
which might have been secured by US has been
lost to our road.
We have obtained from towns along the line
subscriptions to the stock at par, amounting to
$68,000 all of which have been collected and
added to the security of the city. We have
paid on the principal of the loan into sinking
fund $54,81L39.
We regret that the Nashua & Rochester road
was not constructed in time for us to secure the
most favorable terms for all through business
with the Maine Central; but we believe the
narrow policy heretofore SO often adopted by
railway, managers, and local interests, to con-
troll and monopolize business by breaks of guage
and obstructing the free interchange of traffic
over connecting lines, is giving away to a more
enlightened and liberal policy, A policy which
seeks to create business by increasing the facil
tiles for its transaction, and rewards private
enterprise with share in the gene raj prosperi-
ty rather than by forced contributions from the
public. We believe we shall have no di fficulty
at the proper time in making arrangements
|. with all connecting roads for business which
comes within the range of legitimate competi.
ton, and that we shall be able to obtain our
full share of such business.
The future business of the road can best be
estimated by reference to its past earnings,
and comparison of such earnings with those
of other roads similarly situated. The bust
ness of the road in the past is as follows:
1862 1S69-70. 1s70-n
OPEN TO OXFORD. S64, 1903 $74426.1S $50, $780, 80
1S71-72. 1925 1884
OPEN TO ROCHESTER .131 ,56l2S 142, 57Os9 15257OOO
The above shows an increase on the opening
of the road to Rochester of more than 50 per
cent. over the proceeding year, when it was
only open to Alfred. Should only like in.
crease follow the opening of the road to Nashua
and New York, the business for 1S74-75 would
be 1924, 500, a sum sufficient, after allowing
20 per cent. for operating expenses, to pay the
interest on the 100000 and $3.50, 900 loans and
pay on july 1874 and January, 1875, coupons
A corresponding increase after an opening to
Nashua with that which followed our opening
to Rochester, will enable us fully to carry out
the proposition we have made to your commit
tee, and have surplus to apply to the improve
meAt of the road.
The earnings of the Worcester & Nashua
Railroad, which is about the same length as
the P. & r, for the three years after its OPEN
ing was as follows:
EARNINGS. ..1S48-49. 1880. 1S5O-51
$116429s0 S1f,43s.60 $153, DIGS
Opened 1S4S)
Its earnings, according to the last annual re-
port of its directors. which we have at hand,
were. 1872, $5S1 1858. To-
There are more elements of business for
railroad on the line of the Portland & Roches-
ter road now, than existed on the line of the
Worcester & Nashua road at the time it was
built. The Portland & Rochester crosses moro
and better water power between Portland aud
Rochester than exists on either of the lines be-
tween Portland and Boston within the same
distance, and better than exists on the line of
the Worcester & Nashua, between Worcester
and Nashua, and the local business on all these
lines has been developed and is derived from
the improvement of the water power which
was brought into use by the opening of the
railroads. There are no more desirable water