The Portland daily press., 1896-10-07
GRAND TRUNK AFFAIRS.
Annual Report Of the Road Given
Out Yesterday.
EXPENSES LARGELY, IN EXCESS
OF RECEIPTS PAST YEAR.

Constru ction Expenses Kept Within Mar
tion of the Elevator in Portland How
ever Deemed Expedient.
of the Grand Trunk Railway is published
here to-day. The report shows the gross
| receipts for the year to have been 1,7o7,-
$50 pounds, and the working expenses
1,218, 244 pounds. Adding to this showing
OF receipts the amount received from the
International Bridge company, and to
the expenses, the interest on the securi-
ties OF controlled lines and other interests
obligations leaves the net revenue re-
ceipts $40, All pounds, and the net reve-
nue. charger 574,s ,s1a.
The Chicago and Grand Trunk line
shows net revenue deficiency Of 81. 666
pounds and the Detroit, Grand Haven
and Milwaukee defici enoy of 80, 054
poNnds. leaving the Grand Trunk net
| revenue deficiency of 80, 06a pounds. The
decrease in the mum her of passengers car
ried is 59 4y7, and the decrease in pas
senger receipts 1857 pounds. The report
also shows u decrease of 575 pounds in
the mail receipts and an increase OF s, 355
pounds in the receipts from she express
age of small packages.
The working expenses amounted to
II 2-5 per cent of the gross receipts, as
| compared with 70 AS IN 1896. The cost
of repairs increased Z, 1ss pounds, which
| increase was due to the enforced eeonom-
| les of the previous year. The half years
net charge to the capital account was
80, 3l6 pounds, the chief item Of which
was IL. 1919 pounds tor the Union station
at Toronto.
The report proceeds to say that the
charges upon the capital account have
been kept within the narrowest limits
possible, the expenditures having been
mainly on account of works in course of
completion. M
| The directors, however, have thought
1t prudent to conclude with and cooper
| ate with the city authorities, in an ar
rangement for the erection OF a new
grain elev atOr at Portland. Maine. which
Is urgently needed in view Of the in
creased capacity of the steamers which
are now crossing the Atlantic. The
amount required is $500, ,OC0, which will
te subscribed by the banks and the city
of Portland under the guarantee of the
company of the payment of interest at
| per cent.
! The annual statement says: Sir Charles
Rivers Wilson, president revisited Cana
da and the United States last spring and
personally conferred with General Mana
ger Hays and other executive officers of
the company upon important matters.
| In view of the continued business de-
preston il: Canada and the Unitsd States
which has been intensified by the cleo
tion campaigns in both countries. n re-
turn to normal operations of the railway
could hardly be expected. The board
| is confident thatis with the removal Of
these disturbing influences. the Grand
Trunk is in rs good a position TO avail
itself Of any Improvement as any of the
| trunk lines
| General Manager Hays the report adds,
hos applied himself to his work with
zeal and energy and the directors conf
IDENTIFY anticipate that gradual I'M
provement of affairs of the company will
| result from the various measures be has
| in introduced into the system.