The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-01-20

making the equipment at date: Z locomo-
| tives, IL passenger, 3 smoking. observa-
| ton, 3 baggage, l baggage and smoking
cars, 2 brake vans, 45 box, 25 hay, 20 plat
form, and crane cars, and 3 snow plOws.
The freight business has increased so as to
tax the rolling stock heavily, rendering
necessary a large increase for the coming
year. and when the road is completed to
the Fabyan House some additional accom-
mediation for the pleasure travel of the
next summer.
Number of miles run during the year:
BY passenger trains, 79,O06
nv mixed trains 33,609
By freight trains, 23,4l0
BY ballast and construction trains, 3G,ll7
On the 18th of August, - Murray
was killed by falling from an excursion
train while standing or seated upon the
platform steps of the car.
On the 22d of September, engine Saco
exploded her boiler while running on a
ballast train, killing q. G. Smith, engine
driver, and slightly injuring several others
upon the train.
A new station house has been erected in
Baldwin, near the terminus of the new
road leading to Cornish and the business
of the station moved from the old Baldwin
depot to that place. A new turn-table has
D6cH DuL Ill dU DcIlllS SIdllOll. Wltn dll ell
| gine house tor the temporary accommoda-
| ton of the engines while that station con-
| tinues the terminus of the road. Addition
| al wood sheds have been built at several
| points on the line, with a new water station
at Hiram.
The contract entered into with Messrs.
| Fuller & Harding, on the 2d day of May,
| A. ID. 1872, was, by mutual agreement.
| cancelled on the 1st day of August last,
| and a new contract entered iAto with them
| to construct the road-bed of the railroad of
| this company from the Mount Crawford
| House, Bemis station, to Fabyan's, four
miles beyond the Crawford Notch, and the
| present terminus of the White Mountain
| railroad; the work to be completed by the
first day of June, 1875; TO be paid on
monthly estimates of the Engineer of the
company.
The reason for this change was, that by
the terms of the original contract one half
of the monthly estimates were to be paid
for in cash and one half in the bonds of the
company. At the time the contract was
made it was supposed there would be no
difficulty or delay in the negotiation of
these bonds, the amount to be put upon the
market being so small compared with the
cost and value of the road already con-
structed and the whole amount of means
| required to complete it and otherwise pro-
vided for. But the failure of certain rail-
road companies in different parts of the
country to meet the interest on their in
debtedness affected very seriously the
credit of all railroad securities; while
the constantly reiterated assertions
of the utter impracticability of con-
structing railroad through the Craw-
ford Notch. or, if possible, only to
10 ba1 or on OUTLAW fiponc
greater than the estimates of the compa-
ny's Engineer, created such suspicion in
the minds of capitalists that, not only did
it become impossible to negotiate the bonds,
but this distrust equally served as most
effectual bar to obtaining the means for
carving on the work from loans based
upon these securities. Had it not been for
these obstacles the road would undoubted-
| ly have been completed ere this and large
amount of interest, paid upon sums eX-
| pended on portions of the work commence
| ed but not finished, would.hav been saved
| to the company.
| Under these difficulties the contractors
were unable to procure the necessary
| funds for an energetic and satistac-
| tory prosecution of the work of construc-
ton. 1t was therefore thought advisable,
| both by your Directors and the con-
| tractors, that the old contract should
| be cancelled and a new one agreed
upon which should limit the field of work
| to the Fabyan House, thereby securing the
| completion of the road through the Notch,
! establishing it's practicabilitv by actual ac-
complishment. A new scale of prices
was then prepared, to be paid in the pro-
| portion of eighty per cent in cash and
twenty per cent in bonds of the road, and
under this arrangement the work is now
| progressing in a manner satisfactory to
| your Board of Directors and with every in
dcation OF being completed to the Fabyan
| House in season for the next summer
| business.
| The agreement alluded to in the last re-
| port of your Board of Directors as having
| been made with the Eastern Railroad Com
| pany. was put into contract form and eX-
| ecuted Oh the 25th of February, embody-
| ing substantially the provisions as set forth
| in the report. At the same time contract
| with the companies under the control of
| the Vermont Division of this road and the
| Canadian interests forming the through
| lines to Montreal, in place of the one men
| toned in the last report as entered into on
| the 21st day of November, 1873, and con-
| tanning like stipulations and agreements,
| was executed by the several parties in in
| terest. In accordance with the terms of
| these contracts connection for the inter-
| change of business has been made with the
| Eastern Railroad branch at North Conway,
and ON the 18th day of June the trains of
| this company commenced running to and
| from the Eastern Railroad depot in Port
| land. On the Vermont Division five miles
| OF iron, from Hyde Park to Johnston have
| been laid, and the road opened to the lat
| ter place. The work on the Canada por-
| ton of the through line is progressing
very favorably. The trains now run fif-
teen miles and the grading is done on
| twenty-five miles additional. The whole
of the grading on this part of the line can
| be completed in two months time.
In behalf and by order of the Board of
| Directors.
SAM. J. ANDERSON, President.
Engineers Report.
PORTLAND, Me-, Jan. s. 1875.