The Portland daily press., 1881-08-24
ATLANTIC & ST. LAWRENCE RAIL
ROAD.
Annual Meeting.


Inc annual meeting of the Atlantic & st
Lawrence r. r. Co. was held yesterday at their
offices in this city. The following reports were
presented and accepted:
DIRECTORS REPORT.
In behalf of the directors have only to re-
Rort 70 you at the present time that the Grand
!Iunk hallway Company have continued to
1uinIi thelr Obligations to us under the lease.
N tnelr hands the road has been steadily i'm
proving Ior several years past, and it is now in
peIter condition than ever before. TIL g iron
Iaiis OF the main track have all been replaced
by Steel the ties and ballast largely renewed;
ano, excepting the pile bridge over the Back
Cove, IN PORTLAND, the last wooden bridge has
disappeared from the line, all having now
and stone.
Inc iessees have also, during the year,
promptly paid certain interest due on the debt
u tne company, and such sums as became due
lor oiVidends: The report of the commission
ers OF the sinking fund, herewith submitted,
SHOWS Sd the amount paid into that fund as well as
s sno present zen condition and investments of the
lung. The treasurer's report gives the share
capltal and debt of the company.
~ Is nttlng that should allude to the death,
iase WINTER, OF the Hon. John B. Brown, the
iate resident of the company. Mr.. Browns
nan!e appeared as one of the corporators in the
orlglnal charter granted in 1916, and he was
member OF the Board OF Directors from the
organization of the company to the day of his
deatn. He was man of great financial abili-
ty. and in the early years Of the companys his
G 1ory ana q, before the lease of the road to the
0land Trunk Railway, was prominent in its
management, contributing much by his sound
Juug.hlent and great energy, as we'll as by his
WeaItn' TO the successful completion of the
tuna1ertaklng. desire to express the deep
lieeilng OF loss felt by his colleagues in the
Doaro, and their high estimate of his services to
the company. s. E. SPRING.
TREAsURER's REPORT.
The capital stock is $5,4S4, 900, divided as
follows:
265 shares Federal currency 500 eachS 26. 800
1d,zso shares sterling currency $484" 5, 457, 100
loo fractional share right, SIG each 400
s5,484, 900
The debt of the company, all funded, is as
follows:
Balance of obligations to the City of
Portland, first mortgage, with sinking
The companys second mortgage bonds ''0
of Oct. l, 1864. 5-2Os, 9I47 300, or. 1,499.916
he companys third mortgage bonds OF
Balance due on exchange Of bonds 49, 1852
100000
The $1,000 bond of the issue of 1851, alluded
10 In previous reports, has not as yet been pre-
sented for payment. The money to pay it re-
mains uncalled for in the treasury.
Two dividends of 49, each, upon the Fed
eral shares, have been declared payable at this
office; and the corresponding dividends upon
the sterling shares paid by the Grand
Trunk Railway Company, lessees, at their
office in London.
AS the lessees operate the road, receiving
the income and paying the expenses. those ac-
counts do not pertain to the treasurer's office,
and do not appear in this report.
Respectfully submitted.
CHAs. e. BARRETT, Treasurer.
The total sinking fund is 1901 ,66669 The
sum OF $7S7, 900 was rendered the city by the
commissioners last January, but the city re-
fused to receive the money as contrary to the
agreement with the city.
The following were elected Directors Hon.
s. e Spring, P. Fl. Brown, G. E. Barrett, II.
j. Libby, F. R. Barrett, F. X. Swan, of Port
land, J. Hickson and Sir A. T. Gait of Mon
treal. Mr. S. e. Spring was reelected Presi-
dent and G. E. Barrett Treasurer.