The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-09-12
RUMFoRD FALLS RAILWAY.


The annual meeting of the stockholders
of the Portland g. Rumford Falls rail-
road will be held today at the company's
office in this city at ten O'Clock.
The directors, through President
Chisholm, Submit the following
annual report for the year ending June 30,
1923:
The year has been one of prosperity to
your corporation, notwithstanding the
general financial depression existing
during the closing months of the year;
and as evidence of this, your attention is
called to the result of the years opera
tions, showing BALANCE surplus, carried 1esa
to profit and loss Of S25, lbs. "a, after the
payment of all operating expenses, re-
newals, fixed charges and dividends.
This result has been reached notwlth-
standing the mills at Rumford Falls
which are now in operation received no
raw material in and shipped no mill
product out during the year covered by
this report.
The extension of your railroad to Rum
ford Falls which was opened to traffic
August 1, 1892, has proved highly salts
factory.
There have been completed during the
year two large manufacturing plants at
Rumford Falls, both of which are now IN
operation, and which will give your rail-
road freightage business of more. than
one hundred tons per day. Other indus
tries are now in process of construction,
all of which will, when completed, add
materially to the earnings of the road;
The Rumford Falls Power company has
completed and developed during the past
year and now has ready for use its
middle level canal, the power OF which is
about equal to that OF Lewiston, being
used under fifty foot head. This is but
the beginning of the development of the
largest water power in New England and
one of the largest in the United States.
The future developments at Rumford
Falls must add largely to the business of
your corporation.
Extensive Improvements have been made
in terminal facilities at Rumford Falls.
1t became necessary to reach the more
end, the track has been extended to, and
a new passenger station erected at the
head of Hartford street.
The total cost of the extension to June
30, 1873, from Gilbertville to Rumford
Falls, including terminal facilities, but
exclusive of equipment is 1888, 796. 9S.
Daring the year the holders of the old
Rumford Falls & Buckfeld Railroad
company receivers certificates have ex-
changed for the bonds of this company.
so that on June 80, OF the certificates
due May /, 1853. only Sd, 400 were out
standing, and at the present time only
$500 are outstanding; and OF the certln-
Gates maturing May 1, 1855, only S9,7OO
are outstanding.
Of the 5000 shares of the Rumford Falls
& Buckield Railroad company stock,
there have been purchased and are now
own ed by this company 4,256 shares,
leaving only IA shares outstanding,
and for this outstanding stock liability
has been created in the balance sheet as
reported by your treasurer of 81, 1863. co.
The annual rental upon this outstanding
stock is only $4s3. 90.
After several surveys and careful
examination of the various routs between
Mechanic Falls and the proposed connec-
ton with the Maine Central railroad,
your directors finally settled upon the
route via Poland Springs, as the one
capable of furnishing your road the
largest amount of business, and they
feel confident that the II 1-2 miles now
being constructed will yield earnings
fully equal to any other like mileage
upon your line This will draw from
large, thickly settled and rich farming
country lying west of the new line,
which includes the villages of Poland
Corner, West Poland, Casco, Webb's
Mills and North Raymond.
IA
of years has been executed with the.
Maine Central Railroad company, which
gives your company running right. over
the lines of the Maine Central railroad
between the point of connection and
Lewiston, and terminal facilities at at
is completed your terminals will be the
cities of Lewiston and Auburn at the
southerly and Rumford Falls at the
,orthar1v end
The present mileage Of your road,
Rumford Falls to Mechanic Falls, is AZ
miles; extension now in process of con.
struetion; Mechanic Falls to the point of
connection with the Maine Central rail
road, II 1-2 miles; running, right over
the Maine Central railroad between point
of connection and Lewiston, IL miles;
making your road practically 81 miles in
length when this extension is completed.
Treasurer r. c. Bradford's report is as
follows:
sengers ......i...s 1s6se53 s 4s,o52.97