The Portland daily press., 1888-12-14
MAINE CENTRAL RAILROAD.
Twenty-ThIrd Annual Report of the
Company.
The Net Earnings Of the Road Nearly
81 200, 900.
A AsurpIus on Hand of Nearly s275,-
600.


600.
The twenty-seventh annual report Of the
Maine Central Railroad Company has been
issued from the press of the Tucker Printing
House and is a very handsome pamphlet
beautifully printed on fine paper
DIRECTORS REPORT.
The directors respectfully present to the
stockholders their report Of the Maine Cen
trail Railroad Company. for the year ending
September 30, 1888:
The gross receipts for IL months
EXPENSES Msls for twelve '''sS''o''oo'4'
months were. -. so, 136, ,925.12
Town. city and State
- 2,1ss.ss1.71
Net earnings from business. 81, ,1S9, ,125.77
Interest accrued dur
ing year.. ........s734, ,030.90
Less rents receiyed.. 99l9.57
s724.111.33
Rental paid European
& North American
Rental Tas psid 'i.;us.;t'is Belfast i1''00VOo
Moosehead Lake X.
II. Company ......... 100000
Rental paid Dexter q
Newport r. X. Co -. 100000
Maine Hallway. 9,5oo.6o
Rental paid Portland &
Ogdensburg Railway. 3,572.58
Earnings after deducting interest
Dividend paid Feb.
9TH, per cent. .s107, 10000
Dividend paid Aug.
10Th, 3 per cent...... 107 sS05.O0
Surplus for the year.........-..-..s be.ss7.se
Gross earnings for
the year ending
Spt. so, 1887. 7......S3, ,142, ,4O7, ,03
Gross earnings for
Sept. 80, 1855. s,sss,oo7As
Increase In gross earnings. 24G.goo45
Expense for the year
ending Sept. 80.
1857. ISL, ,94s. .479.5o
ending Sept. 80,
1sss.........-..... 2.1o9ss1.71
Increase in expense. 251, ,4O2. .o7
Rental for the year
ending Sept. 30,
Rental for the year
1885,. ....., 1s2B72.5s
Increase in rental tal...s 3.572 So
lnterestfo for the year
endlng Sept. 30,
1887; 7;::..,;..-.....s 717,ces.oo
ending Sept 30,
1sss.-...... 7s4.cso.so
Increase In interest 1e.3o2. 81
Net income for the
Year ending Sept.
Net income for the
year ending Sept
80. 1888 ss,s..s4..... 1.19e,o45.s4
Decrease in net income ......s 3.752.o3
hecepts for freight
year ending Sept.
Receipts for freight
year ending Sept.
80 lsss.-.......-. 1,743,52o,5i.
NJ ceipts from pasSen-
gers year ending
sept. -, 1SS7.....$1 1884, ,226.41
receipts from passen-
gers year ending
sept. SOL lSSS...... ,4S4,S75.91
increase s.....-..................s 1o0649.50
The results of last years operations Indi-
cate steadily increasing business along our
whole line. The development of business
during the last few years has certainly been
quite satisfactory, and present indications
point to a still more marked extension In the
future. The manufacturing facilities Of the
State OF Maine are fast being developed, and
the establishment Of these new industries.
taken In connection with the general bust
ness prosperity Of the State. promises to con-
tribute in large degree to an increased rev.
enue for your corporation.
The net results are nearly the same as last
year. showing surplus OF nearly 1900 af-
ter payments of all fixed charges, operating
expenses and two semi-annual dividends OF
per cent each. Large expenditures have
oeen made Tor permanent improvements dur
ing the nscal year just ended. The amounts
SO expended have increased the permanent
degree to the safe and convenient Operation
OF your road. The Union Passenger Station
erected by the Portland Union Railway Sta
ti0n Company at Portland, Is completed. and
mas been occupied by the company, in con-
nection with the Boston & Maine railroad,
BY vote of your directors, this company
erected lease Of the Portland & Ogdens-
Dugy railway, and has operated the same
since August 81, 1888. A copy of this lease
WHICH was ratlned by the stockholders at a
meeting held at Portland, August %, 1888. is
appended to this report. The Dexter Il
Plscataquis Railroad Company mas been es-
tablished under the law of the State of Maine
Tor the purpose Of constructing a railroad
from Dexter to connection with the Ban
Foxcroft, distance Of about Is miles. This
proposed line Will form a continuation of the
Dexter q Newport railroad, now leased by
this company, and your directors have en-
tered into negotiations for the lease of the
when it shall have been Constructed in ac
cordance with the specifications approved by
your directors, and when the new road shall
have been completed by your company, The
report OF the general manager and Of the
treasurer submitted herewith with tables an
nexed VIII give you full information in re-
gard 10 the physical and financial condition
OF your property.
ARTHUR SEwALI., President.
TREAsURER's REPORT.
Mr.. j. A. Linscott, treasurer, submits his
report, signed by him and the auditor, j. w.
York, from which we gather these statistics:
- RELULT OF BUSINESS
1857 FOR YEAR. 1885,
Earnings from Pas
sl,3S4,226.4l sengers. Sl4s4s759I
Earning from
l'59s,os7.47 FreighT. 1,74s,52o.5l
Earnings from Ex-
100000 press; 45.eo2.s4
los'si74s NAL, Malls. 1o3,223.il
9,o75o7 IRA Baggage. 11.7sS.ll
s3,142, ,i07.03 Total s33sgOo7 AZ
Rents, Wharfage,
s,so9.9s etc. e,9I957
Total Gross
ss,l6l,277.oi Earnings. ss,s9s, ,927.o5
Less Operating Ex-
1,9ts,47s.64 penses. 2.199.ssI.71
sl.2o2, ,7s7.37 Net Earnings sI,i99, ,o45- a.
125.5oo.oo A. r.. 4. " 125.5oo.oo
Less Kent b. & M.
3e,oOo.oo Lake X; R; se.ooo.oo
1900 90 R.k. " 100000
Less Rent Z. Maine
100000 RR; s,5oo.oo
Less Rent p. s. o.
r.. X. 3,572.5s
h''Voo.oo Less interest 734O3O.00
Total Interest and
so6,o6s.o9 Eents. o.266o3.4s
296,72o2s Surplus Z PIP 44I "a
General expenses, office, property
and transpOrta ion. ............ 3 26l. .GSI 90
Passenger transportation ex-
penses....... ................. 2oo,6S4 "A
Freight transportation expenses. 262O36. "A
MOTIVE power expenses. 597.75l.2 81
Maintenance OF cars. :............ 6,g97. "a
Of way and buildings. $50 73o.4O
Total; ..........................s 81, lbs, ,ssI.7I
lSigned.I GEO. w. YORK,
Auditor.
DETAILED STATEMENT OF BONDED pFBr
Androscoggn and
Kennebec railroad
l0dn....... .......s Sl ,lOO,OOO.OO
Maiue Genital ex-
tension loan. ..-.... 496 5000
Maine Central per
cent Sl,1OO,OO0