The Portland daily press., 1899-03-04
AMERICAN LOAN AND TRUST co
TRUSTEE. BOSTON. MASS.

The Pawcatuck Valley Street Railway Com,
pany owns and operates miles Oh Track iaiu
with 30 10 and 30 ID rails In western, hh9ne
Island, extending from the New York. New ma
| ven Hartford Railroad station throigh tae
principal streets aud suburbs TO Watcn hiii, ~
l. Connecticut and Rhode IS'snn are mere SEP
arated by he Pawcatuck River, Weste ly on The
cas-. SIDE o. The river aud iH~eatuck and sion
ington on the west Ths permanent populauon
served Is about fifteen Thousand, ana In addition
= large number of summer residents at Waich
Hill. Westerly and Pawcatuck are distinctly
attractive and well laid out. the people being
enierprising and wei TO do, the savings banks
The total bonded debt OF Westerly Is $500 900. Of
which 100000 Is owned by the largest savings
bank In Massachusetts, aud $4,000 Is deposited
with the State OF Rhode Island by Providence
Trust Company TO meet the requirements OF It's
charter. Westerly Is the largest place between
Providence and New London The principal In.
dustry Is found In the celebrated Westerly Gran
tie Quarries, where a large business IS carried
on. Printing machine works. woollen. cotton
and silk mills employ a large number OF we'll
paid people. The future OF the business inter
ests OF Westerly and Pawcatuck Is secure.
The chief interest from street railway point
of view centres In the village or summer settle
ment Of Watch Hill. located within the bounds
OF Westerly, on a promontory overlooking Long
Island Sound, having a very fine sea view OF
wide expanse. The enamel directly, Off Light
House Point Is the pathway for an immense
amount OF shipping, affording constant pano-
rama OF ocean travel OF rare beauty and interest
Montauk Point (easterly end Of Long Island
ana BLOCK lSlhnu are seen 0lrecHy OppoSltc'
The beach Is absolutely safe for bathing and IS
extensively used; the temperature OF the water
Is equable and exactly fitted for bathers, while
rs IL receives the full ocean breakers, IL Is Tree
from sea-weed and the strong undertow which
is so prevalent almost beaches. The tempera
ture ranges from maximum OF 81 toa minimum
OF %. the prevailing winds IN summer being
and Long Island Sound, are always cool Ihe
United States Government Is erecting fort
nearby which Will prove of interest 10 many.
lnAr va faA hntala
large capacity for guests; shore dinner houses;
bathing houses, and other attractions anu
amusements usually found at frst-class shore
resorts, together with many tasteful and At
tractive summer residences. eleven new ones
being in process of construction at the present
time, there being an active and constant demand
for lana for building purposes. Large numbers
of wealthy people from Baltimore, st. Louis,
Cincinnati and other centres l. I'VE come here Tor
years. many being land owners and permanent
summer residents Watch Hill, IL Is asserted
stands preeminent over any watering place on
the eastern coast situated as 1t Is on the ocean
front, six miles from Westerly, nifty miles from
sett Pier. 1t Is safe TO predict for Il an always
expanding growth and development in the fu-
ture, all OF which will have an important bear.
Ing upon the future business OF the electric street
| railway by which 1t Is served.
This road was chartered by special Act OF the
Rhode Island Legislature.1April 2s. 1898. The
charter contains the usual conditions OF charters
Of this class. The location was granted by West
erly May II. 1894, and contains the important
concession that said railway snail be operated
during at least six months in each year" which
exemption from the necessity of winter opera
ton, when receipts are light and expenses heavy,
has a most favorable bearing upon annual net
receipts, because alarge percentage OF the wear
and tear on the cars. motors, mach leiy, etc,
Is reduced and the large profits made during
the summer months are not eaten uphy losses Ia
the winter.
For one quarter of mile in the business dis
trict of Westerly the track built of 80 Id girder
rail- paved with block stone. The rem"l lug
five and three-qaarters miles are iaid win 90 10
heavy chestnut t es being used throughout. The
freedom from clay and the gravelly nature OF til +,
soil have preserved the track IN excellent sur
face and alignment so that III tnten1nce rrpars
Will be infrequently required .ald inexpensive.
The poles, wires aud feeder line are III good or
der aud amply sufficient for all present needs.
The equipment consists OF Eve open ears. one
box car and one combination fielght and pas
senger car used daily In carrying freight OF The
Adams Express Company and the United states
mails between Westerly and Watch I'M. Each
car is equipped with two g. +. 800 motors and
are all In the best of condition.
The company owns and operates its own power
station which is EXCEPTIONAL hicient, located
by the river with best coal handling facilities.
II is frame building, in good order, and amply
efficient for all needs o. the road for many years
to come. The equipment consists of Conklin- :
ALBANY boilers), Hamilton Corliss 800 II. Z.
Condensing Engine. Edison Bi-polar 200 X. W.
Generator ID No. q, General Electric ~ L.
No. 90 Generator, switch board, etc. The station
is so located and equipped that It's operation is
very efficient ana economical. The car house
is a frame building located just OIL the line OF
the road. In excellent order and condition. We'll
arranged and equal TO all present needs OF the
company.
In addition to the power mouse and lot, the
company owns a lot next its car house In case
the latter needs to be enlarged. an additional
lot next the power house fronting the river; a
lot of land upon which one OF the turnouts Is
laid and Il strip of land twenty feet wide and
one thousand feet long upon which the tracks
are located to avoid a steep grade and sharp
curve
The officers and directors are as follows: lion.
VIM. Hoxsey President, Westerly, r. L.; L. Z.
shaw Jr. Treasurer and General Manager.
Boston. Mass. Hon. f.. 7. Shaw, Newburyp0rt,
Mass; Solomon Lucas, Norwich Conn. A. S.
Patton Leomiuster. Mass. John Champhn,
Westerly, X. /.
balance Sheet, Nov. Ii, Is9S.
ASSETS.