The Portland daily press., 1879-03-26
MAINE CENTRAL RAILROAD.
Annual Reports of the Directors, Trsas-
urer and Superintendent

In their annual report tbs directors of the
Maine Central Railroad Company say that the
business of the road the past year has been less
than in any previous year since consolidation,
the cause Of which is to be found in the gener-
al business depression. The decrease in BUSH
ness. both passenger and freight, has been
uniformly distributed among the stations, show
ing that it is not owing to local causes at spec
ial points, but comes from a general depression
throughout the community. The directors
trust that tia present year will show an in
crease in earnings.
On the subiect of taxation, the directors say
that wide spread belief apparently exists in
the community that railroads are run for the
pecuniary benefit of those owning stock in
them, and that all means that can be employed
to defeat their obtaining this result ara but L.
Ultimate weapons which should be used by the
people to prevent their being overwhelmed by
such powerful corporations. Therefore the law
making power seeks to tax them out of exist
ence and the period while the legislature is in
session is anything but an agreeable time to
railroad managers. UGder the present system
railroads are taxed by the state upon the mar
ket value of their stocks; their property out
side OF their located way is taxed by tie sever
al municipalities, an / their bonds are taxed in
each town where the owners reside; and yet
some were found among the chosen Lawmakers
at the last session of the Legislature of Maine,
who thought that it would be advisable to as
sess tax Of u per cent upon valuation Of
the real estate occupied by the roadway, ire
spectiye OF any membranes II bstter coun-
sells prevailed, it was due to the large number
of Intelligent men in that body VINO would not
be carried away by those who desired TO carry
the state against these corporations so as to
break them down to suit their own selfish ends.
Ths directors have settled the back taxes of
the road which the Supreme Court decided it
was liable for, for $50,2SO12. The directors
complain that the tax assessed by the state on
their franchises is serious burden.
The condition of the track and equipment is
betterfthan ever before. All the bridges have
been examined; an iron bridge has been placed
over the Bates canal In Lewiston; three iron
spans in Lewiston. in place of he wooden
bridge between that city and Auburn; a new
iron bridge over the Oathance river, and thor
ongh repairs made on several smaller bridges
All the principal bridges are now of iron ex-
cept those at Brunswick and Skowhegan For
the current year 1000 tons of steel rails have
been contracted for. One new station has been
built the past year and many improved. A
granite quarry at North Jay has been pur-
chased at an expense of $1,000, and the Melcher
property in Portland at an expense of S13, 2O5,-
50. The rolling stock is in good condition. AT
the company's shops one passenger car, two
baggage ana mail cars, and fourteen freight
cars have been built, and ore new freight en-
CINE has been purchased Of thu Portland Com
pany. The experiment of sending ice By train
proved successful, and it is hoped this expert
ment will result in large shipments in The fa-
tufe.
TREASURES REPORT.
The report of Treasurer Cushing shows that
the last second mortgage bond of the Somerset
& Kennebec Railroad has been cancelled, No
other matured bonds remain outstanding ex-
cept 5000 of.the 100000 Maine Central loan
which has not been presented. Sundry
amounts, standing last year to the credit of
assets-ts due from the Somerset Railroad
Company, S62 35l IS, and for change of gauge
OF the European & North American Railroad
Company, have been charged to Psofit ard
Loss. The total transportation earnings of the
past year are 81, 4,6S773 The total earnings
are 81, 4i0,66l 46, aud the total operating sx
peuses $Si0,704.72, making the net earnings
$599, 95674
SUPERINTENDENT REPORT
The report of Superintendent Tucker shows:
Miles run by passenger trains. .,........,.49a,34 3
;. g we e,glS ..''''.'''.'. S 800 S S5s
LOtdl q s.............,.,...,,,10 SS 25S
Number OF passengers carried. ........,,.56 5 COG
NUMBER OF passep gers carried per mile. '449 1877
nece.p.s or same. 1928, 1921
average distance per passenger sc 1910 miles
Average earnings per passenger per mile .03 cts
aotai number OF TONS freight carried 329 $40 S100
TOTAL receipts for same. 669 90
Average receipts per 5-lOO
Average gross earnings per train mile. .......I.6S
Average operating expenses per train mile. .96
Average net earnings. Observation-Disclosures 10
Six hundred ano eighteen iols CT steel rails
bave been laid, l,036 tons of iron rails, 2 O65
rails repaired and relate, Sl627 sleepers,
23,0lO cubic yards Of gravel placed under the
track AID 6.955 feet of Lew side track built.
A good deal of new fence has been built and
many calverts repaired. A number Of railway
Safety gates have been put it. The total length
Of bridges built during the year is / 462 feet.
The rolling stock is in excellent copditlon. No
accidents have occurred 10 passengers. An
aged man was fun over as the Belfast station,
but the ccrone's jury acquitted the company
of all blame The nav roll for 1879 on,our+s