The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1885-12-05
MAINE CENTRAL RAILROAD.
The Annual Report for the Past
Year.

MAINE CENTRAL RAILROAD.
The Annual Report for the Past
Year.
The Maine Central annual report for the year
ending Sent. 3oth. 1885, has just been issued by
The comnanv. and printed by the Tucker Printing
House. a,ao,,s, rupopr
The directors respectfully present to the stock,
holders fheir report of the Maine Central Railroad
Company, for the year ending September 30th
The gross receipts for twelve
Expenses for twelve
months. .......,,.. .$e,73,921.87
Town, city and state
taxes.......-,....-.- 56,9SO42
Net earnings from business. -. 81 Jos, 877.10
year 49,. 49, ....s 7o1, 7ee.e5
Less rents received. 7,828.20
s693, 9ss.45
Rentals paid European
& North American
Rentals aitlSJ paid Belfast & A10'0V0'0O
Moosehead Lake r.
Rentals paid Dexter &
Newport r. r. Co.. 100000
Maine Maine Rai iH '.s.ein 100000
----- $SS2, 93S.45
Earnings after deducting inter-
est and Rentals ......,......... 1925, 93S. So
Dividends paid Febru-
airy 9th, per cent. $107,766.00
Dividends paid August
10Th, per Cent?. lO7,775.00
Surplus for the year ............. s1o,397.e5
Gross earnings for the
year ending Sept 80,
1854. 1890. ;$2,Sl6,372.4O
year ending Sept. 80,
lSS5.... ....2, S39, 1888
Increase in gross earnings. s23, 4o6.99
Expense for the year
ending Sept. 30th,
Expense for the year
ending Sept. Both,
loo6......,.s ..-...l, I3O,9O2.
Decrease in expenses s19,s11.o7
Sept soth, 1884. 49,. s1s9,ooooo
Rental for year ending
Sept 3oth I88s... 1s9.ooo.oo
Interest foryear ending
Sept. Both, 1884. $661 ,395.14
Sept. 3oth, 1ss5...... 7o1, 1866
Increase in interest. .....:.. s4o.s71.51
Net income year ending Sept. 30tl,
Net income year ending Sept soth,s = '0'000oo
1.11e, 7o53o
Increase on net income. ........ s4o,62497
Miles operated 9moS. ending
June Both, 1884. 486
Miles operated, mos. ending
Sept. Both, 1884 527
Miles operated year ending,
Receipts ot for freight year ending.
Receipts for freight year ending
Sept 3oth, 1885,. .............. SOP, 45S. rs
s26,613.57
Passenger receipts year ending
Sept 3oth, 1884 ISL 197, 412s2
Passenger receipts, year ending
Sept. 3Oth 1885 1,190,073.7S
Decrease........ ................ s7,aa9.o4
The gross earnings have increased $23, 4o6:99
as compared with the year previous reduction
ses which may be regarded as satisfactory when
it is considered that the Mt. Desert branch, Al
to Bar Harbor, Ne miles, have been operated the
entire year, while the previous year showed the
operation of this branch for three months only, it
having been opened for traffic June 80. 1884
The extension of the road which will be of great
advantage towards increasing the company's bus
mess has created an Increase in the fixed charges
of the company of $4,000.
While business in Maine has been depressed the
first year the operation of the road has demOnStra
ted its ability to meet its operating expenses all
fixed charges and pay dividend of per cent. per
annum on the company's capital stock.
There has been expended the past year for new
bridges and for repair of bridges, $70,86I.OO, as
against $27, $4,000 for the previous year; for
90 was expended for this purpose. The sum of
$4,000, in excess of last year. has been paid for
ties for track, There has been expended for the
past year for the larger, or what may be termed
extraordinary expenses, including new l0com0
tives, extensive repairs to locomotives, new pas
senger cars new freight cars, steel rails, ties for
track and bridges the sum Of 1896, 600 90, as
against the sum of 1921 10000 expended in the
previous year for like purposes.
1t will be observed that the receipts for freight
traffic are increased $26,61357, while the re-
ceipts for passenger traffic are $7,339.04 below
the large political travel of the previous year.
The total niles run IN 1885 is in excess 65, al
age of the Mt. Desert branch.
In addition to supplying the deficiency IN roll
ling stock for the European & North American
Railway it has been necessary to purchase addi-
tiOnal equipment for the Mt Desert branch and
also for the Bucksport branch. 1t will be remem-
bered that the tracks OF the Bucksport branch at
the time we acquired it did not conform to our
gauge, therefore the rolling stock was not pur-
chased The cost Of these purchases, together
with the expenses of other permanent improve
ments on these newly acquired roads, entailed up
on the company a floating Indebtedness which, at
to $600,931.54. This indebtedness has been
funded by issuing 1920 six per cent bonds at par
seooooo There has been carried to eauipmen 1t
account the sum of $250,347.62, brought over
from last year as representing equipment for the
that important event. the construction of the st.
John cantilever bridge connecting the Maine rail
the railway system of the maritime provinces. A
large increase in the Maine Central business has
been anticipated from the improved facilities af-
forded passengers and freight by the opening of
the bridge. The results promise large and profit
able business from the provinces
The relations with connecting roads is very sat
isfactory The practical consolidation of roads
leading west from Portland and the improve
mentS made by our eastern connections, the New
Brunswick Railway, have largely contributed to
the prosperity of this company.
The report then speaks Of ex-Gov. Coburn's
death, and gives the resolutions passed by the
company to his memory.
TREASURER's REPORT.
The treasurer, Mr.. Linscotts, report gives the
fnllaxrino fio1Irac.