The daily morning journal and courier., 1895-10-04

wat 4lpb he 4llNl tdaCN ny AHt lull Ri'NuA't required for the payment of dividends and interest upon them, It is not anti clpated that this increase of stock and bonds will interfere with the continu- anee of dividends at the rate of ? per cent, quarterly
 The New England Railroad company at the writing of this statement, is in possession of the property formerly known as the New York and New Eng land. Its lines reach many points in southern New England which are also served by the roads of this company. At most of these points separate or ganizations are maintained. It is ap- parent that if the management of the two properties is unified, the expense of each can be diminished materially by the consolidation, upon equitable terms of agencies, yards and freight houses at these points, and also that the GUS toners of each company can enjoy the benefits of the facilities belonging to both, The properties will then yield the best results to each corporation and to the public.
 Your directors have therefore accept ed an offer for the delivery prior to the annual meeting of majority of the capital stock of the New England Rail- road company, and have also purchased $5, ,000,000 of its new per, cent, mort gage bonds. But it is not proposed to make any consolidation with or lease of the New England railroad.
 Upon the New York division the four track work has been continued. That at South Norwalk is well advanced and that through Greenwich will be com pleted at the time of the annual meet ing.
 The general assembly of the State of Connecticut, at it's January session. di- rected the elimination of all grade cross ings of the New York division through
 the City of Bridgeport, and established a commission representing the City of
 Bridgeport, to which it gave power to | agree in behalf of the city as to the manner, plans, methods and time in which the work shall be done, and l the proportion of the cost thereof to | be paid by the city and by the rail road company, subject to the approval of the railroad commissioners of the state. The power of this commission will expire on the 22d of December af- | ter which time lthe railroad commits | sioners are invested with absolute au- | thority. Negotiations have already | been commenced with the special com mission which it is hoped will result
 in an agreement, If not the railroad ! commissioners will be asked for orders that the work can be commenced early
 In 1896.
 l The work on the Providence termin- l als, at Brockton, and on the Boston | and Providence road, has been con- 1 tinued
 l Early In February, by concurrent ac- 1 tion of the directors of this company,
 and of its lessor. the Old Colony Rail- road company, 1t was determined to ap- l ply electricity to the operation of the
 Nantasket Beach railroad, seven miles
 in length power house was erected
 and equipped with two tandem com pound engines of S20 nominal horse | power each, direct coupled with multi polar generators rated at 800 kilowatts | each. The trolley system was adopted l the wire itself being rolled in the sec ton of the figure that it might be | suspended mechanically. The only in | sulation provided was that furnished | by hard pine posts, located between l the tracks, which were laid with fifteen | feet centers. The equipment prnvid d
 was of standard type, 36-inch steel tired wheels, iron truck with standard air ] brake (the compressed air being fur ntshed by independent electric motors) the open cars fully equipped weigh | ing 6o,000 pounds each. The road was | thus operated from June 30 1895. The experiment has demonstrated | that power generated in a stationary plant and transmitted by electrical agency can be successfully used in the l operation of standard railroad The | current expenses for fuel indicate that this result is economically obtained Power thus transmitted is capable of indefinite subdivision, and is therefore most available for frequent car ser. vice. The commercial result depends only on the durability of electrica equipment
 The use of the existing power sta tior will be extended presently, and it is probable that electricity will be prompt. ly adopted by the company at other points on it's lines. With a road free from grade crossings it is not too mucf
 to expect it's ultimate application wher
 ever the business justif1es a frequent
 train service, and it is to be hoped without the use of an overhead trol ley.
 Of the death of Gnue"nnr Morris. t
 Luzon B. Morris, elected a director ot the company September 8, 1894 was sud denly called from the usefulness ant activity of his life on August P, 1895
 Having filled with absolute integrity
 and unswerving fidelity many places
 of trust in various relations, we ha6
 anticipated great benefits to the com pany from his connection with it. an6 regret that our association with hin has been so summarily terminated. Formally announcing the election ot Arthur D. Osborne of New Haven tt
 fill the vacancy made by Judge Morris death, the statement closes, with the signature of Charles P. Clark, the president.
 Following the statement is the reporr
 of the finances of the road as showr by the books of the treasurer.
 INTERESTING ITEMS.
 Interesting items from the detailed
 statements are as follows