Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1874-03-25
Maine Central Railroad.

| Annual Report OF the Directors and Treas
| urer.
| The annual meeting of the stockholders of
the Maine Central Railroad will be held at
Watervile to-day. From the advance sheets
| of the reports of the Directors, through the
| President, Hon. A. L. Morrill,, and the Treas
urer, j. S. Gushing, Esq, to be laid before
the stockholders to-day, we gather the fol-
lowing facts of public interest.
The net earnings of the road for 1873 were
| 1887 SO "a, being an increase over the pre-
ceding year of $3.50, 1853 A. Number Of pas
| sengers transported 9,760, an increase of
AZ ,545 over 1872. Number of tons of freight
carried 4Ol ,9O4; increase over 1872, 42,Gl7
tons. The trains have been run with prompt
ness and care, and no important accident has
occurred. Six new locomotives have been
added at a cost of $4,000; 6 passenger cars,
8 baggage and mail cars, l postal car, 200
merchandise, | Is platform, conductors sa-
loon cars, and snow plows. Eleven new
bridges have been built Gas reported by the
Chief Engineer Mr. Holt,) amounting in the
aggregate to 1882 feet in length, and costing
S22, 1914, and So other bridges and culverts
have been repaired at cost Of S24,95 AZ.
Total cost for the repair of track, 1895 1853 20;
cost of building new fence $l3, S04 So. Paid
for permanent improvements on bridges, cul-
verts, ETC., $l34, 1888 81. Serious misfortunes
by storm and fire have occurred during the
year. After the completion of the iron bridge
at Waterville, the company will have three
main iron bridges, erected within the last three
years, at a cost Of $250,000.
The relations with other railroads of the
State are generally satisfactory and harmon
ious. Trouble still exists with The Boston &
Maine. While believing that beneficial re-
suits would enure to the public and the cor
porations, should some equitable plan be ma
tured by which railroads that run into Port
land could be worked with perfect harmony,
the Directors do not believe that the course
pursued by the Boston & Maine Railroad is
calculated to hasten that desirable consum-
nation. The long established and convenient
connection with the b. & NJ. at South Ber-
wick Junction was severed by the managers
of the b. & M. If the b. & NJ. ''managers"
refuse to connect at South Berwick junction,
and compel shippers to tranship at Portland,
will they insist that the 'managers" of the
Maine Central K. II. are wholly at fault? A
just public will determine who exercises an
Iron monopoly" and who seeks a forced con-
nection in preference to equitable negotiation,
by which all connecting railroads in the State
are working tremendously. The Maine Cen
to South Berwick Junction, as cheaply, and
deliver as promptly as any other road can do
the work.
The Directors have by their action provided
so far as possible against any msappropria-
ton of the consolidated bonds authorized BY
the legislature Of 1872.
The Directors have made An agreement
with the Eastern Railroad Company, whereby
the business interests of the two companies
are united for a long term Of years. A copy
of the contract is appended to the report, and
upon this contract the action of the stock
holders to-day will be looked forward to with
great interest.
The figures of the Treasurer are encour-
aging The net earnings of the road the
present year have been sufficient to pay the
interest on all loans and liabilities rental of
leased roads, and leaving balance of 1884,
1888 80. This sum has been used to meet the
extraordinary OUTLAWS. Arrangements are
being made for the funding of the floating
debt. This done, and dividend ought to be
reached the coming year.