The Portland daily press., 1883-08-08
RAILWAY NOTES.
AtlanticE& st. Lawrence Railroad.

The annual meeting of the Atlantic g. St.
Lawrence Railway Company was called at the
companys office in this city yesterday. There
was not quorum present, but the following
officers held over:
land.
Vice President-Joseph Hickson, Esq, Mon
treal
Directors-Sir Alexander T. Gait. Montreal;
Charles Z. Barrett, Harrison j. Libby, Frank
lin H. Barrett, Francis X. Swan, Philip Henry
Brown, George p Wescott, Portland.
The following annual report twas presented:
DIRECTORS REPORT
At the close of the current year the direc-
tors find little to which they need call the at
tention of the stockholders.
The Grand Trunk Railway Company have
continued to maintain the road and property in
good and satisfactory condition, and to make
the payments required by the lease.
Last year we referred to the report of the
commissioners of the sinking fund, which
showed that, in consequence of the large paw
ment made by the Grand Trunk Company In
January, 1881, the fund was actually in excess
of the amount of this companys obligations to
the city OF Portland. BY making this paw
ment the Grand Trunk Company intended to
relieve itself from all further liability by rea-
son of these obligations The city, however.
declined to receive the fund SO made up. as
payment, on the ground that the company was
bound to provide for the city bonds not vet
due, and not, simply atlits pleasure, TO pay the
amount OF these bonds to the city. The Su-
preme Judicial Court of the State having sus-
tanned the city in its position, the commission
ers, with the consent of all parties have re-
funded TO the Grand Trunk Company a por-
ton of the sum paid into the fund, as appears
by their report herewith the effect of this re-
payment being to leave the total amount of
the fund just what it would have been had the
regular semi-annual payments to it been made
without interruption or variation to date
The treasurer's report, herewith submitted.
gives the present share capital and debt of the
company.
For the Directors,
s. e. SPRING, President.
The following is the sreasurers report
TREAsuRRR's REPORT.
l present my S7th annual report as treasurer
OF the company, it being for the year ending
June so, 1883.
The bylaws require of the treasurer an an
nual report; but as your road ls leased to the
Grand Trunk Railway Company of Canada
which operates the road, receiving the income
and paying the expenses, the report becomes
almost an abstract of the preceding reports, so
little chance occurs now from year to year in
the general accounts of the comrany The
capital stock of tho company remains, in
amount, the same as last year, and is divided
as follows:
@oo suaIes III feueral currency OF SlUU
each ............. .......4..S $4,000
II 27s shares in sterling currency of
% eloo or s4s4 each 5,45s, 1853
rs fractional share rights of SIG each
outstanding. ......................... 44S
s5,4s4 900
The debt of the company, all funded is as
follows:
Balance of obligations to the city of
PORTLAND, hrst mortgage, with sink
Ing iuAur 8 1871 600
The company's second mortgage bonds
of Oct. l. 1854, 5-2Os, e309, 300 or 1499 GIG
The company's third mortgage bonds of
May !, 1871, 5-2os, et47ssoO, or. 7l2,e32
Dalance oue'o on exchange or bonds..... 152
S3,oo0,ooO
The $1,000 bond of the issue of 1851, alluded
to IN previous reports, has not as yet been pre-
sented for payment
Two dividends OF So each, upon the Federal
shares have been declared payable at this office
aud the corresponding dividends upon the
sterling shares are paid by the Grand Trunk
railway Company, lessees, at their office in
London.
Respectfully submitted,
CHAs. E. BARRETT,
Treasurer.
Portland, July 1, 1888.
The commissioners of the sinking fund re-
port as follows:
SINKING FUND.
The following is statement of the increase
OF tie fund from the beginning, by the several
contributions and by interest, and of its pres.
emit amount: