Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-09-27
The Maine CentraI's Annual Report.

The 3Sth annual report of the Maine
Central for the year ending June 80,
1899, is out in neat pamphlet form, and
has many interesting figures and state
ments. This great corporation has
been most closely identified with the
advancing prosperity of Maine; and
the welfare of Maine people and that
of their leading railroad system are
most closely bound up. This annual
report shows the financial soundness of
the company and its story of in
creased business is an indisputable
proof of the increased business con-
ditions of the State. The next annual
report, which will include this sum
mer's unprecedentedly large traffic, VIII
be even more gratifying to the friends
of the road
The gross income of the Maine Cen
trail Railroad for the year ending June
Goth. shows an increase in freight earn
ings of 1925, 21927, in passenger earn
ings of S3S OF. 90 in miscellaneous earn
ings of $1so30.92, being total increase
of earnings of $2S1 ,S2119, over the pre-
vious wear. The operating expenses
have also increased in the amount of
$2s6. O93. SO: but in the operating expen-
ses this year are included large items
for machinery for a new ferry boat at
Bath, new equipment, including safety
appliances, renewals of rails, and the
new passenger station at Brunswick, in
addition to the greater expense natu-
larger traffic.
The gross income reached the figure
of s., 1913, 16S.S4, of which large sum the
road has expended s.. 2S3 .337. 40 in oper-
ating expenses, the larger portion of
which is for labor, there being about
$500 men in the employ of the Com
pary. The road has paid fixed charges.
being for interest on the debt of the
Company, rental of leased lines and
taxes, Sl,36S,17S. being a decrease
since last year for same purposes, Of
So, 970.SS. which is due to a decrease in
the floating debt and to the lower rates
of interest consequent upon the gradual
refunding of the maturing loans on the
present low interest basis. 1t has paid
taxes 1921, 1888, an increase over last
year of S7,60215. The improvements.
new engines. ears. etc, and the new
safety appliances have been more nu-
merous than for many years. and the
fine new station now nearly completed
at Brunswick is the most important
Improvement. The floating debt has
decreased during the year, $263,Oo
standing now at $50o,0O0.
Some interesting figures are given in
the tables al the end Of the pamphlet.
The company carried 2,136.470 passen-
gers during the year, about 80 900 more
than the previous year. The average
rate of fare per mile received was
Opt. The company carried 3,217, 500
tons of freight. an increase of 410,1SS
tons over the previous year.
The annual meeting of the road will
be held in Portland, October IS, and it
has been announced that President
Franklin A. Wilson. for purely per-
sonal reasons, will decline n reelection
at that time. Mr.. Wilson is one of
Names ablest and most popular bust
ness men and his retirement from the
high position which he has so accept
ably filled. will cause general regret in
Maine. The question of his successor
is an important one, and We cannot
doubt that the management will settle
it wisely.