The Portland daily press., 1889-06-05

This Company was first incorporated in 1928 by
the Legislature of the State Oh New York, as a
adopted giving rights for street railway system,
with perpetual franchise, which was then con-
oneration eye1 siacs has oee1 IN successful
with the electric system of overhead wires sfmi-
Lar lar to those In successful operation in Boston,
places. The road now has 15 1-3 miles Of track.
commencing. at Greenbush carriage bridge in
road depots, and the Post once. it runs throueh ugh
broadway In front Of Delayan House, thence
directly to the turnpike Of the Company, which
also runs through the famous Albany lumber
district. At the terminus OF the turnpike road, 1t
street railway in that town. which has present
population OF 5000. At Congress street bridge,
IN a,s Wess Troy tuTno I viii be made and track
The last connection is new one, and will largely
increase the earnings OF the road. AT West Troy,
tne United states Watervliet Arsenal Is located
on the line. Under recent appropriation of the
Government, 81, 100000 have been set apart for
furnishings and operating the Arsenal for the
large force Of men will be set TO work, who will Of
necessity use this railway. The new bridge con-
way large trafic between that city and G Albany,
which II does not now have.
!, The following letter from the President shows
tne condition and prospects OF the railway
The average gross receipts for the past six
OF this Company have been over S74,Ooo per
annum, and the operating expenses Of the
electrical road will be guaranteed Tor Ave wears in
our contract not 70 exceed go per cent. OF the
gross receipts, so that the balance applicable to
liked charges should exceed the amount REQUIRED
TO meet interest on the bonds without the ex-
the improved facilities. A fair estimate of in
crease by reason OF better and more rapid service
wSpa sso pace tne gross receipts for next year &C
way work to be low estimate of increase con-
s,dering the new business TO be received from the
The turnpike Of the Company, which is owned
IN fee-slmple, Is the only carriage road from
revenue tS ana Tom an n net
per annum These receipts can be increased to
The property Of the Company. "a renorted to
the New YORK State Railroad CommIsSIoners -
September 80, 1888, is as follows:
Boadbed; supeIstructure and Rails S239, $500
ana Fixtures. s.-...................... 452O266
Horses and Harnesses. sf'55sO0
Cars, Wagons, Trucks, Sleighs and
snow floWS.... ........-............... 328471O
,...a.,,..o., s3s4,194.74
rson no,. ,,. s54o194.74
steel side-bearing rails and.35 bound steeI TrsS
10 motor trucks, IL new ears: com nIete snnwe,,
SsaUn SSn 2. capacity Of 200 horsepower with brick
Nah, VIII De capable OF hauling another ordinary car
: WILLIAM BAYARD VAN RkeNssELAER.
~ now proposed to issue $3.50 900 first mort
sntsv snn,ty-year six per cent. bonds 10 take I'm
,e,nniatI oDngations and to pay for the con-
a1i1pate9 aoi1pp improvements. Thirfy-six thousand
vi Inese bonds are reserved to provide for
ca3pe Rpaeo'ements, and we are now prepared 10 re-
vnSI SrTg SUBSCRIPTIONS for the balance REMAINING
cent. psvabIe byIers ~ and accrued interest. Ten per
livery ~ hnn5 on ALLOTMENT, and balance ON de
1st. ""en VIII DO ready about July
Msssgrs sgaii5y Of the bonds has been examined by
niSssrs. E 3 storey, Thorndike & Hoar, OF Boston.
ror further particulars apply to ~
WOODBURY & MOULTON,
Corner Middle and Exchange Streets.
PORTLAND, ME.
BREWSTER, COBB & ESTABROOK, |
~ ~ Congress Street, Boston, Mass.