St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1886-09-09
RAILROAD MATTERS.

ODGlUSllolu.
RAILROAD MATTERS.
Annual Meeting of the Passumpsic.--A
New President.--The Lake Road Shops
to Remain Here.
The annual meeting of the stockhold-
ers of the Connecticut and Passumpsic
rivers railroad company was held yes
terday at Newport. The annual re-
port shows that the receipts have been
$758, 930.47, a decrease of $38, 595. SO
from last year, slough the gross ton
mage was Al ,026 tons in excess of the
previous year. The expenses were
$47I ,948.75, leaving net earnings 1886,
9S1.72. Fifteen hundred tons of new
steel rails have been laid during the
year, and 1866 ties put in, and the
track is now all steel rails the entire
length of the road from White River
Junction to SherbrOOke. This has all
been done from year to year, and
charged in the current expense of Op-
Grating the road. The road is COM
pleted, and will compare favorably
with any of the roads with which it
connects. The report says:
The authorized capital of the cOrpo-
ration is $3,OOO,O0O. There had been
issued, at tie date of the last years
report, stock amounting to 22, 444
shares. There has been issued since
then 1856 shares, making the stock
capital now stand $4,000 shares, repre-
senting $2,500,0OO. This leaves $780,
600 to be issued hereafter to make up
the authorized capital of $4,000, 000
This stock was sold at par, and the
proceeds applied to the liquidation of
the floating debt of the company. You
will see by the trial balance of the
treasurer that there are now no notes
payable, outstanding. The floating
debt was caused by the assistance rem
dered by this company in the building
of the Southeastern railway, for which
this road holds the mortgage bonds of
that company, and, although unavail-
able at present, we hope some day to
realize from them. The floating debt
has been carried along for a series of
years, and we are glad to report that
it is now paid off and that the only in
debtedness of the company is it's bond
ed debt.
At the annual meeting of the Con-
necticut and Passumpsic rivers road
yesterday these directors were chosen /:
Emmons Raymond, Cambridge, Mass,
Warren X. Blodgett, Boston, Mass,
Amos Barnes, Boston, Mass, Alden
Speare, Newton, Mass, S. S. Thomp-
son, Lyndonville, A. B. Harris, Spring
field, Mass, Oscar Edwards, North
ampton, Mass, Frederick Billings,
Woodstock, VIM. D. Bishop, Bridge
port, CT. Mr.. Bishop takes the place
of Director Pierce deceased and is of
New York, New Haven g. Hartford
road. These directors subsequently
elected the following officers Presi-
dent, A. B. Harris vice president,
Warren X. Blodgett treasurer, N. p.
Lowering superintendent, II. E. Fol-
som. Mr.. Raymond, who is about go
ing to California, refused to accept a
reelection to the presidency of the
road and resolutions were unanimous
ly passed recognizing Mr.. Raymond's
efficiency and fidelity to the interests
of the road in the past, thanking him
for cOnsenting to still remain on the
board of directors and wishing him a
pleasant journey West, etc.
1t is understood that the Passump-
sic and b. g. l.. road have effected an
arrangement by which the machine
shops and other buildings of the latter
road will remain here for the present.