The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-01-20
PORTLAND & OGDENSBURG RAIL
ROAD.
Annun, Meeting of the Stockholders.
ANNUAL REPORTS.

The annual meeting of the stockholders of
the Portland &, Ogdensburg Railroad Com
pauy was held yesterday morning at ten
o'clock, President Anderson in the chair.
The meeting adjourned until next Tuesday
without an election of officers, owing to the
fact that by the laws of the Legislature of
New Hampshire it is necessary that all rail-
roads running through that state should have
a New Hampshire Director and as the laws of
Maine permit only nine directors to the Ogdens-
burg, special act of the Legislature must be
obtained to allow them to have ten.
The following are the annual reports in full:
sixth Annual Report of the President and
Directors.
To the Stockholders Of the Portland and
Ogdensbarg Railroad:
Gentlemen,-The Directors respectfully
submit the following report of the pro-
gress of the work ON the line during the
past year, with statement of the receipts
and expenditures since the opening of the
first division of the road, together with
the reports of the Engineer, showing the
condition of the road-bed to the present
terminus, the amount of work done upon
the line beyond, and the result of the trial
Of the locomotive Carrigain upon the
heavy grade between Bemis Station and
Frankenstein, accompanied by letter from
the eminent civil engineer, Benjamin I'll. La
trobe, ESQ.,. also the financial statement of
| the Treasurer.
The section of road from Upper Bartlett
| to the Old Crawford House, now Bemis
| Station, distance of six miles, was opened
| for business on the 3lst day of August; !;
| too late in the season for the full benefit
| arising from the summer pleasure travel
| and consequently adding but little to the
receipts of the year. Beyond this station
| the track has been laid to Frankenstein,
| three miles. Although this section of the
! road will not be opened till the track is
| laid through to the Notch, it was deemed
advisable by your Directors, upon the re-
| commentator of your Engineer, to lay
| the iron to that point the past fall in order
| to facilitate the building of the trestle at
| Frankensteln and of aiding in the construc-
| ton of the road upon the mountain side
| beyond, access to which, from the highway,
| is very difficult and expensive on account
| of its great elevation, and also as meas
ure of precaution in protecting the road
bed already constructed to that point.
1t will be noticed by the following table
that there has been slight falling off in
the receipts from passenger business dur
ing the past year, in comparison with the
year previous. This decrease IN travel mas
been Shared by your road in common with
! most of the other railroads of the country,
particularly those at all dependent upon
pleasure travel. The arrangement of bus-
ness consequent upon the numerous and
extensive failures of banking-houses and
of manufacturing and mercantile establish
ments in the latter part of the year 1873, had
marked effect in depressing the trade of
the country throughout large part of the
past year, thereby restricting travel to
much closer limits than have pertained to
that department of railroad traffic for
several years past. 1t will be seen how
ever, that there has been a very satisfac-
tory increase in the freight traffic, notwith-
standing this, and the small demand for
luaber, the carriage of which now forms
an important part of your local freight,
this increase amounting to more than
thirty.sir per cent in the receipts therefor,
and in connection with the earnings from
all other sources showing in gross an in
crease of tagenty per cent.
Statement of Operating Receipts and Er-
penditures from the Opening Of the Road
to November 80, 1874: