Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1881-12-21

Our ordinary operating expenses have
necessarily been increased to enable us to do
this amount of business, but not in the same
proportion, and we should be able to exhibit
handsome gain in net results had we not
been obliged to make large expenditures IN
the nature of permanent improvements, and
~ they are charged to the operating expenses
this account 10 unduly increased.
We have thus included in these nine
months the cost of 8, 900 tons Of steel rails,
seven new passengers cars, two locomotives,
one hundred new freight cars and two new
postal cars. and We have also added the State
taxes for 1881, amounting to $40, 772 rs,
which, underline law of last winter, have
been assessed by the Governor and Council
and paid to the State Treasurer.
The large expenditures Of the two preceding
yesrs upon bridges have shown their ad
| vantages in q reduction of expenses in that
department during the period Of this report.
new floor has been placed on the lower
bridge over the Androscoggin AT Brunswick,
and an iron bridge over Topsham street At
Belfast long piece of pile bridging has been
filled permanently with earth, and at Bow
doinham two new bridges have taken the
place of like number of ancient structures.
There are now lOS miles of steel rails in
the track, and the urgent necessity that the
main line should all be steel is so apparent
that it has been determined by the directors
that it must be so laid within the next two
years.
A purchase Of $500 tons of steel for de-
livery in 1882 has been made, and about the
same quantity in 1888 will be sufficient to
complete the laying of the main line with
steel
There will apparently be little occasion for
extraordinary expenditures during the next
year, except for rails and ties. Our station
accommodations are generally good and in
good condition.
The machine shops Of the company are I'M
suited to doing economically the large amount
of repairs required by q road of the extent of
the Maine Central, and steps must be taken
during the coming year looking to their re-
new al and permanent location. Our rolling
stock is generally in good condition but it
needs constant care, and true economy would
seem to dictate that we should not longer
continue to work at so great a disadvantage
as we do in our present repair shops.
At its last session. the legislature adopted
general law for railroad taxation, and I'M
der its provisions we have paid into the State
treasury the tax assessed for 1881. This
amount with municipal taxes. makes the
taxes paid by us this year nearly $50, 900.
Our State taxes for 1882 will he over $2S.-
600, and this sum, with municipal taxes add
ed, will make our rate of taxation over one
per cent upon the par value of our stock, and
more than two per cent upon its market
value.
As our bonds are also taxed by the various
municipalities it will be seen that tile property
Of this company pays higher rate of taxa
ton than other property in this State.
rREAsURER's REPORT.
The tables submitted, exhibit in detail the
receipts. disbursements and liabilities of the
Maine Central Railroad Company for the year
ending September 80. 1881, showing a gain