The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1880-03-22
MAINE CENTRAL RAILROAD.
Annual Report OF the Officers.

We have received from Superintendent
Tucker copy of the reports of the officers of
Of the Maine Central Railroad, to be presented
at the annual meeting to be held at Augusta
next Wednesday.
| We copy the following from President jack
sons report:
The generally improved condition of bust
ness in this State is shown in our traffic re-
| turns Our freight earnings indicated a small
increase early in the spring of 1879, and they
| continued to improve throughout the year.
| Our passenger earnings were less than the pre-
ceding year, until September, when that por-
ton OF our traffic showed signs of improve
ment and this continued during the remaining
months.
Our gross traffic earnings we're $73,6S9. 20 in
excess of those for 1878, and our net traffic
earnings were $44 ,414.62 more than those for
that year.
Our trains have been run with regularity,
and without serious accident and no passen-
ger has received any injury. Extensive
| repairs and improvements have been made at
several of our stations, and they are now in
such generally good condition that we do
not anticipate any occasion for large expend-
itures in that department for the coming
year.
The heavy freshets of the fall of 1878 did
little immediate damage to our road bed, yet
they developed weak points and made neces-
sary larger expenditure than ordinary in en-
largement OF culverts and drains. For that
reason our expenditures in that department
have been unusually large.
Iron bridges have been erected on the An
droscoggin between Brunswick and Topsham,
and over Portland street in Portland.
A larger number of ties than usual has been
placed in the track, and we have laid 2112 tons
of steel, against 618 tons in 1878. The old iron
rails taken up were sold, so that the substitu-
ton OF steel for iron cost for the year 1879,
$15.72 per ton.
We have now 50 miles of steel rail laid and
have purchased 1000 tons more to be laid dur
ing $780, AS this purchase was made prior to
the recent large advance in price our expendi-
lures in this department for 1880 ought not to
be much in excess of those for 1879. The iron
bridge just erected over Portland street is in
tended for double track, and we hope that
during the coming year we may be able to con-
struct a double track to Morrill's Corner, and
thus in the future avoid vexatious delays now
incident to crossing SO many trains on turn
outs at the approach to our Portland terminus.
The Sandy River Railroad, of two feet gauge,
has been completed from Pennington to Phil
lips, QS miles, and was opened in December,
We trust that this may prove to be yalua-
bic feeder to the Maine Central, and we have
accordingly extended to its promoters every
facility in our power to enable them to COM
plete their line and put it in successful opera
lion' AHcTo are several OUuor lines projected,
OF more or less importance to this road, but
none Of them have yet reached a point where
their building is secured.
Meanwhile we have adhered to the policy
adopted by the board to do nothing which shall
render the Maine Central liable for any pro-
prosed road, while at the same time it gives to
those likely to become feeders to our line all
the aid in its power, other than pecuniary
In the year 1879, we hardly made up the de-
fciency arising from the business of 1878, and
vya had 10 <1,n1 ou Gao
2S4. "a to the State, for taxes of previous years.
Unjust and oppressive as these taxes were,
they have now been entirely settled, but our
profit and loss account bear witness to the fact
that this corporation cannot exist and continue
to pay exactions of this character, and we
respectfully submit the question whether the
people of Maine can afford to break down or
impair the value of the securities of this COM
pany, held so largely throughout the State by
citizens and savings banks for the sake of anv
ton of tax by the State Treasurer. The
savings banks of Maine own 81 O39, 500 of
Maine Central securities and hold in addition
WV 900 as collateral, as appears by the report
OF the Bank Commissioner Just published, and
we estimate that at least $6OOOOOO of our
bonds are owned by citizens of this State
From Treasurer Cushing's report we learn
that the transportation earnings for 1879 were
81 ,377.02. of which 1910, 70 were from
passengers, $793, 699.38 from freight $4,000
Of from express, 81, 04673 extra baggage, mail
$51, 1898; car use, $12,036.75. The earnings
from rent and wharfage were $5,595.51, divi-
dends Dexter q Newport r. r. stock $500, 900,
and interest on sundry accounts 50, 90,
making the gross earnings 81 sis, 536. 81. From
this deduct for operating expenses 1869 1899
and we have $648, 557 % net earnings Deduct
$3.50, 1914 for interest on bonded debt, 49,
72579 temporary loan interest, $4,000 rent
Dexter q Newport r. R. and 900 rent Bel
fast & Moosehead R. r. and surplus credited
to profit and loss is $21 $500. The total re-
ceipts for any one month were largest in Sep
TENDER, S148, 987.47, and the smallest in Jan
uary, 1879, 1917 ,607 80. OF the operating ex-
penses $780, SO were for fuel consumed,
$255, .76 for maintenance of way, 1914, 1885,
03 for train expenses, $159,330.31 station ex-
penses, $31 ,3O8.28 office expenses. $18,74415
general expenses total of 1855, $685.
The liabilities of the road are $12 1886 $40 SO,
Central interest scrip 11,692OO, Portland &
Kennebec r. r. stock $500, Maine Central r.
r. stock, 1908 300, Maine Central bonds &c.
800. The decrease of liabilities in 1879 was
va ,OO4.58. The construction account of the
road was reduced $1,7SO from real estate
sales.
From Superintendent Tucker we learn that
,lN 478 miles were run by trains, 533 1864 pas
sengers carried. The earnings per passenger
were S11O, and average distance carried each
passenger IS 94-1OO miles, and average earn
ings passengers per mile OF $500 cents There
were 396, 107 1900 tons of freight carried, with
an average receipt of $500 3S-1OO per ton, and
average mileage per ton of SO Sl-1OO. The rest
of the report is devoted to a detailed account
of the road-bed, track and new buildings
erected, and general condition of the road
which has been published in the papers from
time to time.