The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-10-04
s1SS, 2ss 80 s133, s9s 81
S116,1O6 GIL S1l1.s:


The above includes all the expen-
ditures for the road, except the con-
struction of Saco River bridge, and payments
made on account of rental and purchase of roll
ing stock, which will be found on another page
Of this report. 1t will be seen that the gross
receipts are $437353 less than last year, and
the expenses have decreased $4,3S3.31. The
number of passengers carried was 118, 175, being
29S3S less than last year, while the freight ton
mage has increased Is, S19 tons.
On account of the road being in the hands of
a receiver, we are unable to give "edger bal
ance" as his accounts are to be rendered to the
court, but the debt of the company-not includ-
ing overdue interest on its bonds-may be stat
ed as follows viz:
City of Portland bonds A..........,... 100000 90
City of Portland bonds B.....,...,.. 100000 90
Portland & Rochester per cent. bonds. $4,000 90
Bills payable. including notes gwen by re-
ceiver, approved bills for supplies, pay
rolls, due other roads, and other claims
a part being estimated. ...... $S9,305 II
Less cash and due from agents
and material on hand .,..,.. 20,774 10 $3.50 96
$2,2O4,542 50
and on account of purchase of rolling stock is
$10,S6728.
sACo RIVER BRIDGE.
The cost of the new iron bridge, including
masonry was:
For superstructure, one new pier, includ-
ing foundation, repairing defective pier,
coping sand bridge seats, stone for four 80, 90
Timber for trestles, labor in putting up
same and taking down old bridge. ...... 1866 -
For new track stringers and track 1874 20
$1,000 70
In part paymentfor the above, by order of
| the court, the receiver was authorized to give
| his notes for $4,000, dated April 2 1877, paya-
| BILE in g. 6, 8. II, Is, q and "a months. Old
materials have been sold amounting to ST.
131 25, and the proceeds applied to that account
There are unpaid bills amounting to about
| 2.00 which twill be added to our floating
debt when paid.
| Our trains have run with great regularity, no
| accidents having occurred to any train. Num-
Der of miles run:
Passenger cars. ..........."..S90,15 0
Freight .:. ''. 4 SsSs
$l4e,5s2
| A decrease of 1882 miles from last year.
| The following statement will show SOME of the
changes in the traffic of your road the past four
| years.
Tonnage of freight:
Totals. Local. Decrse. Inc Through. Inc.
1874. 065
| 1875. 67,OlO 52,267 14,743
1s sss5s 1858 ,4 5 5ssi 1883 ass
| A decrease of 5000 tons of local freight, the
| through freight having increased 1888 tons.
Passengers carried:
| Totals. Local. Dec. Through. Inc.
1875 .iaS.4S5 1856, 1856, 14,Iss 1852 $3.50
1876. .14s,01I 111,o56 All $685. 1898
| 1877. .11s,I75 80,164 1892 3S,011 1885
| A loss of over $4,000 local pa ssengers in three
years and an increase OF 13, 983 through pas SEN
i gers during she same time
This continued loss of local traffic can only
be accounted for by reason of the depressed
condition of our lumber and manufacturing in
dustres The people are poor ard have not
| the money to pay for such luxureS, but with
revival of these industries, may we not antici-
/ pate that this traffic may be restored to US,
| which, with prosperous and increasing
through business, will enable your road to large
ly increase its receipts, and thereby give greater
| value to its securities.
For the Directors,
| GEO. P. WEscoTT, President.
The following directors were chosen for the
ensuing year:
George T. Wescott, Portland.
II. j. libby. Portland.
Frederick Robbie, Gorham.
A. K. Shurtleff, Portland.
| y. 5. Kicker, Deering.
Charles Mccarthy, Portland.
VIM. r. Wood, Portland.
w. G. Ray, New York,
3. G. Wallace.
John Lynch, Washington.
John A. Waterman, Gorham.
The only change is the election of John A.
Waterman, in place of George E. B. jackson,
who declined reelection. The whole number
OF votes thrown was 1929.
AT a subsequent meeting of the directors,
George P. Wescott was re elected President,
Frederick Robbie Vice President, and VIM. H.
| Oouant Treasurer and Clerk,