The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-12-16
RAILWAY MATTERS.
Rumrord Fails Railroad.


The Rumford Falls and Buckfold Branch
ing at their office on Plum Street, this morn
ing at 9 o'clock. The annual. reports have
been published and we give the following alb
stracts:
DIRECTORS REPORT.
To the Stockholders Of the RUmtord Falls
and Buskyfeld Railroad Co.
The reports Of the Superintendent and Treasurer
of the corporation are SO complete that but little
need be added by the directors.
The diminution Of eipts from those OF the year
ending September 80, A. d.. 1888. was wholly in
freight earnings. This occurred almost entirely in
the winter and spring months of A. D.lSS4, the lar
ger part in sympathy with lib falling or on other
railroads in northern New England but also part
was due to purely local, temporary causes.
Approximate estimates of earnings for the six
months enalng November 80, A. ID. 1884, show an
advance over the corresponding six months Of the
previous year and are probably the best six months
earnings In the history of the road.
In addition to Improvements which have been
charged to construction account, there has been
during the past year marked gain In all parts Of
the eompany's property.
We believe that the construction account should
now be closed
considerable amount Of unfenced lands re-
mains to be fenced and plans have been made fer
layi more steel the coming season; but 10 is be-
neved these things will be done from the earnings.
Also, it should be the policy of the company to add
each year sufficient new rolling stock to keep good
the depreciation Of the old. and more; In accord
dance wi such policy, some additional rolling
sock has already been ordered to be paid for from
the earnings Of the road.
AS already said, the property has been improved
the past year in every direction. Upon track,
bridges and buildings there were expended and
charged against earnings, SO, ,s70.s4 more than in
the previous year. So large expenditures in the fu
ture may not be necessary In a strict sense bat il
continued for a few years TO come they will prove
wise economy, and will put the property where 1t
can meet successfully contingencies which We do
not expect, but which may occur. Indeed tho
property and business are Of that nature that the
company cannot afford to leave any contingency or
risk unprovided for; and In consequence thereof
the road is run with great to avoid accidents as
far as possible, and the bridges buildings and roll
log stock are kept well covered by insurance
since the date to which the treasurer's report is
brought, all the improvements described in the su-
porintendents report have been completed and all
accounts therefor paid. except some minor ones not
yet payable, which IL is hoped the earnings will pro-
vide for. lhe whole amount of floating debt out
standing Dec. 1st, A. D., 1884 was SO, ,437. rs;
against which, in part there remains uusold So OOO
Of mortgage bonds which may be applied thereto.
IL is not expected this debt will be Increased bat
on the contrary it is hoped that all unsold old rails
and ir9n, about 20 tons, now on hand. may Be
available for ita reduction.
Great credit is due to the superintendent and to
all other employees of the company, for the special
zeal, fidelity and for the companys Interests
which they have exhibited during the past year
Per Order of Direc ors.
WILLIAM L, PUTNAM.