The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1883-04-16
RAILWAY NOTES.
Grand Trunk.

The first meeting OF the stockholders OF the
Grand Trunk since its union with the Great
Western was recently held in London, at
which the Chairman of the Directors, Capt
Tyler, was able to make an encouraging speech
upon the operations of the company. AS re-
garded the number OF shareholders in the
united system, he had to tell them that in 1881
there were S14i holders OF Grand Trunk
securities and 6S74 holders OF Great Western
securities-a total of 15,0lS. In 1888 there
were 1900 holders Of Grand Trunk securities
and 1906 holders OF Great Western securities
total Of 20,255 holders Of their securities. AS
regarded mileage, the total mileage Of the
Grand Trunk, including branches, was 1911,
and that of the Great Western, including
branches s2S Then there was the Chicago
and Grand Trunk, 335 miles, and numerous
other branches, and altogether the combined
companies could count up mileage OF $3.50
miles. Their enemies said they had taken an
enormous burden, which would break their
backs. This was not SO; but on the contrary,
they. entered into these engagements with a
full knowledge that they would prove to be
most profitable, For one thing, the saving
which had been made by putting the two cont
panies together more than paid all the interest
which was guaranteed to the Great Western
The Chicago and Grand Trunk. he might
mention, had paid during the last half-year all
the interest they owed the company, and he
trusted this state Of things would continue.
The directors had been enabled to obtain
number of ordinary shares ia different COM
panies for which they had really paid very
small sums Of money proportiona.e to the
value, and which would he very valuable rover
sions TO come in in future times. These he de-
tailed, and stated that altogether they held
ordinary stock to the value OF e2,773,700, for
which at different times they had paid only
klUaaOoO Praeeeding 90 deal with the report,
thenceornts IN which were for the period be-
tween the l2th of August tthe date OF the
unionl and the 3lst OF December, he pointed
out that the gross receipts OF the united sys-
TENS IN 1882, since the union, were 81, 4S9 222,
and this item showed an increase Of upward
Of 4lS4,OO0 upon the corresponding period OF
1881, The working expenses had OF course in
creased, and stood at fl,00S,asi against e9o4,-
eoz; but II was most satisfactory to find that
the rate was only 1888 per cent. as against
1S.W per cent.--a decrease OF 600. After de-
Quoting these expenses the total earnings to DO
distributed among the holders OF the company's
securities amounted TO no less sum than
s52S, 752, which had been earned on the lines
"a twenty weeks and two days. He reminded
the meeting that people sometimes said that
no Canadian railway could pay even for the
grease which was used upon the wheels Of Its
carriages; but TO these he would only reply by
pointing 10 the fact he had just stated.
The monthly statement of the Grand Trunk
Railway Company shows that during February
Tue gross revenue was 4245 002, an increase Of
tl9Oo3, and the working expenditure El9S,-
800, an increase Of 93.114, showing a net III
come OF 446,u46, or gain OF fl5,27S. For the
TWO mouths ended with February Is the in
crease IN gross earnings was Rg3, $50, and the
increase - outlay sl5,455, leaving net in
crease OF 44S,e6
The st. John Bridge.
The new iron bridge over the mouth OF the
St. John river will cost in the vicinity OF $780,
goo. The annual revenue in tolls collected
from roads using the bridge is expected to
amount to $50, 900; the st. John & Maine rail-
road gives bonus OF $1,000 year and the New
Brunswick government subsidy Of 5000, in
all S3A, 900, 70 meet estimated annual charges,
maintenance, interest, etc, amounting 10 SIS,
600. Tbs Dominion government has agreed
70 advance 50 per cent. OF the cost, and the
bonus and subsidy, amounting 10 $4,000, bs-
ing exempted from lien, the only lea il can
have on the revenues will DO on the actua
tells. The government also reserves the priv
ilege of purchasing the work, and thar within
I'VE years from the date on which the first adj
vance is made, on payment OF the difference
between the amount then due to the govern
ment for advances and interest and the sum OF
the total amount expended by the company
and To per cent. on the total amount 50 ex-
pended. n case the bridge Is not fnishedby
March %, 1885, the government VIII take the
work and finish it itself upon having To the
company the difference between the amount
then advanced and so per cent. Of the cost at
the date OF entry. Under such favorable con-
ditious the work can hardly fail. When it is
finished there viii be an unbroken railway line
between Boston and Halifax
Minor Notes.
The new oinderless locomotive, which has
two tire boxes, enc OF which burns coal aud the
other smoke and cinders, was given = trial trip
over the Cape Ann branch Of the Eastern Sat
urday afternoon. a large number OF railroad
men accompanied the train. On the down trip,
after leaving Beverly, the engine was spaeded,
aud fairly flew over tue line.
The freight business on the Maine Central Is
constantly on the increase. There never has
been SO much lumber Of various kinds shipped
from Mattawamkeag as this season. ALI along
the Maine Central line there are great amounts
OF lumber awaiting shipment.
Inc English presidents of the Grand Trunk
and Canadian Pacific railways have united in
dispatch to their general managers ia Canada
insaucting the Canadian officers to prepare at
oncs an agreement which shall settle ali pend
ing differences between these two corporations.
Il. l. Lincoln, Esq, who has bsen elected
President Of the Rumford Falls and Buckheld
Railroad, commenced his railroad career as a
station agent and conductor on the Old Port
land and kennsbec, and was afterward Assss-
tant Superintendent Of the Maine Central, aad
later Superintendent OK the Eastern Maine
Railroad.