Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1880-01-09

STOCKHOLDERS ANNUAL MEETlNG-AN INTER-
EsTING REPORT.
The annual meeting of the stockholders of
the Burlington and Lamoillc Railroad was
held in this city on Wednesday, December
3lst, 1879 and was fully attended. The
lows:
DIRECTORS.
William b. Hatch, Nathaniel Parker, Law
renee Barnes, Morillo Moves, Geo. l.. Lins-
ley, Josiah futile, H. NJ Field, l.. F. Terrill,
George W. Hendee, d. C. Linsley, Waldo
Brigham, c. NJ. Spaulding, II. F. Wetherby,
OFFICERS
Decentralization b. Hatch.
President Nathaniel Parker.
Secretary and Treasurer W. Peck.
General Manager-D. c. Linsley.
The General Manager submitted his an
nual report, which we give our readers in
full:
THE GENERAL MANAGERS REPORT.
To Tie Stockholders Of tie Burlington and
LdmOille Rdilr0dd
GENTLEMEN The operations of the road
during the current year have been almost
exclusively confined to the ordinary working
of the trains and afford little matter of cs
pecial interest No trip has been missed
and IN hut two instances his anything oc
Cured TO interrupt the movement OF trains
The first of these was caused by slight in
jury to the cmhankment near Cambria Sc
Junction, last spring, by the unusually high
water in the Lamo;lie river, which made it
necessary to carry by on two trips. The
second was caused hy the settling of about
fifty feet OF the roadbcd in underhill, which
made it necessary 10 suspend freight trains
and ''carry by passengers for two days
In regard to accidents. the road has been
extremely fortunate. Ii is now the third
wear since it was opened for business and In
this time no Passenger has been injured nor
on the main line
During the year the road has been good
deal improved \ good deal of additional
ballast has been put under the track nj
points that We're affected by the severe frost
of last winter. Two stone nnderrassrs have
been constructed and four additional sidings
have been put in. which were found neces-
sary to accommodate the increasing busl-
ness The cost of these works-S2, $50
might not improperly he changed to con-
struction account hut believing that il is
wise to avoid any increase in this account,
il has been treated rs current expenses, and
nothing whatever has been charged 10 CON
struclion."
Since the opening of the road for business
il has been apparent that the managers OF
the Portland and Ogdensburg, Vermont Di-
vision, Disseminated against business from
Burlington and in favor Of business from
Maquam Bay. The determination to do
this was not, however, specifically avowed
until about year since, when the Superin-
tcndent of that road advised me by letter
that il was the policy of that road ito make
rates from Maquam SO rs 10 induce lake
freishts TO come from there" The adoption
of this policy by the Portland and Ogdens-
burg, Vermont Division, made it imperative
" necessary to cndeavor to establish some
new route TO northeast ern Vermont or else
he prepared to give up that important trade.
Negotiations were thereupon opened with the
Central Vermont railroad and contract
which is herewith submitted-wa made with
that company, running three years, by which
they agreed 10 take the traffic destined for
northeastern Vermont and the eastern sea-
board via Montpelier and Wells River upon
terms which were deemed advantageous To
this company. The result of the arrange
ment has proved satisfactory. In 1878 the
tonnage from Burlington to st. Johnsbury
for the eleven months ending Dec. 1st WAS
1856, rs pounds and to the White Noun
tains and points beyond 2,307 OBS pounds,
making total of 1913, 140 pounds. For
the corresponding eleven months of 1879
the tonnage to St. Johnsbury was S,346. 200
pounds, and TO points beyond Fabyan's D,
691, 800 pounds, or total of 14,03S, geo
pounds, showing an increase of about one
hundred and seventy-five per cent. As the
traffic was carried under sharp competition
with the line from Maquam Bay, the rates
We're very low and afforded only narrow
margin of profit, but the advantage to the
trade of Burlington was very great. and as
the future success Of the road depends main
" upon the prosperity of the city and the
road has earned the interest on its bonds,
we have little reason TO be dissatisfied with
the results.
The gross earnings of the road for the first
nine months of 1879, which is as late date
as the accounts can now be brought up TO
for want of returns from other roads, were
S33, 1881. The operating expenses for the
same time, including the sum of s., $50 as
above. that was for construction account
but charged IN operating expenses, were
seq, $685.. Assuming the business of the
remaining three months of the year TO equal
the average of the first nine Gt will probably
somewhat exceed this), the net earnings for
the year will be Sl4,017.5a.
I WOULD earnestly iv,Uiuiii.AJ that The
time for holding the annual meeting be
changed to some time in March or April, so
that the accounts may he made up and a
statement presented for the full wear to Dc
ccmbcr 1st. ID. {. LINsIEY.