The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-10-04
PORTLAND s. ROCHESTER, r., r..
Annuni Report of the Directors-Busi-
ness of the Annual Meeting.

The annual meeting of the stockholders of
the Portland & Rochester railroad was held
yesterday, Hon. Geo. P. Wescott spresident, in
the chair. The first business was the reading
OF the annual reportsof the Directors, which is
as follows:
10 he Stockholders of the Portland C Roch-
eyer haaroad Company for the gear endtng
By. virtue of an order passed Sept 4, 1876,
py the City Council of Portland, the Mayor
was authorized to appoint commission to con-
sist VI nVe citizens who should make an 1nves-
tlgation into the affairs of the Rochester and
Ogddensourg railroads oct. 1lth the Mayor
entered upon their duties. They employed an
expert to make an examination of the condi-
tlon OF our track, bridges, &c. After an ex-
animation of the bridge over the Saco river, he
reported that the top and bottom chords of the
bridge were much decayed, and that the entire
weight of the BRIDGE as well as train loads,
was resting upon the arches put into the
Drloge In 1870, (the railroad commissioner hav-
ing ordered the bridge strengthened at that
tlme) and that the thrust of the arches was
crushing the masonry in the piers, in conse-
quence of which the pier at the west end of
the bridge was defective and unsafe,
Immediately after this report was made,
the railroad commissioners made an examina-
ton Of the bridge, and at once notified your
uihOStOTS b0du IL WAS uuSdI6 lUr travel, anu re-
qulred to be renewed, or extensively repaired.
Previously to this time we had constructed
granite pier in the center of the 100 foot span,
thus dividing it into two spans of 80 feet each,
thereby relieving the defective pier of part of
its load, and having in view the construction of
a new bridge at an early day. After examina-
ton of the bridge by the company's engineer,it
waslfound tina to repair the bridge would require
the entire renewal of the top and bottom
chords; in fact the cost of the repairs would be
almost equal to the construction of a new
bridge. Plans were made and estimates pre-
iron, and inasmuch as the iron was found to be
as cheap as wood, if not cheaper, your direct
ors determined to build Iof iron. Competitive
bids were received and Messrs. Clark, Reeves
& Co. of Philadelphia were the lowest bidders
The estimated cost of the whoei work, includ-
ing superstructure, one new pier repairs and
coping to the old piers, and abutments, trestle
for carrying our trains, while the old bridge
was being removed, and removal of the cid
structure, was Sis. 900.
This sum could not be taken from the receipts
of thesroad, neither did thei directors efeel it
their duty to advance the sum required. After
consulting with the Commissioners on the part
of the city as to the best course, we were in
formed that they had reached the conclusion
that it would be best for all parties interested
that the road be placed in the hands of a re-
ceiver. In a subsequent report to the City
Council they said: 1.-The money to build the
bridge and meet other expenses in advance
of the receipts of the earnings, must be raised
in some way, or the road must stop running
the directors very naturally declining to turn
ism their individual credit under the crcum-
stances. For these reasons the Commission
have recommended that the road be put into
the hands of receiver, to be operated under
direction of the court, by order of which all
necessary funds may be raised. and needed ex-
penditures made, and at the same time the
rights of all parties fully preserved"
December Goth, by direction of the City
Council, bill in equity was filed against the
portland & Rochester Railroad Company and
Others" to procure the appointment of re-
cever and ultimately to determine the rights
of all parties having any interest in the road.
January 18th, 1877, this cause came on to be
heard before John A. Peters, Esquire, one of
the Justices of the Supreme Court, on the mo-
ton that a receiver be appointed, and accord
ingly, after hearing, it was ordered, adiu dyed
and decreed that George P. Wescott be APP
pointed receiver to manage aud operate the
railroad, and the Portland g Rochester Rail-
road Company were ordered to deliver to said
receiver the railroad, rolling stock and all prop
erty belonging thereto. February LIST. the re-
cever took formal possession of the road and
all its effects. Since that time it has been
operated by him under orders of the court.
Your Treasurer has prepared the following
comparative statement of the expenses of op.
Grating the road for 1866 and 1867: