Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1902-04-19
STATE HOUSE.
Some Facts and Figures About
Narrow Gauge Railroads.
Two Roads In Good Condition Out
of Seven In Operation.
James Newcomb Asks for Pardon from
State Prison.

at the present time, with a total
mileage of 160.17 miles. The ROckport
road, three miles in length, is not
operated. From the railroad commits
sioners' report for the year 1901. it is
learned that the total gross earnings
from operation of these seven narrow
gauge railroads for the yea.~ ending
June 30, 1901, amounted to $l91, 1872 40
The expenses of operations aggregated
1888, 1855. which left a total income
from operation of $3S, 1861.
The Rridgton d SacO River rail
road, which runs from Harrison to
Bridgton Junction. distance Of 21A
miles, earned S29.341.70. It's operating
expenses We're $2s, 1916. leaving as in
come from operation the sum of $10,-
5SS.54. Interest was paid upon the
funded debt of the company and a
dividend of per cent. was paid on
the common stock. A surplus for the
year of $3722.9S was added To the sur
plus on hand making n grand total of
$S.393.12. The total cost of the road to
June 80. 1901. was $251 ,127.32. including
the total cost of construction, equip
ment, etc.
The Franklin e Megantic railway
is not in so prosperous Il condition as
the Brid2ton & Saco River road.
But it's financial standing is improving
each yeac. The deficit in operating eX-
penses for 1901 was 81, 1905 81 as against
$3,S50.24 in 1900. The road runs from
Strong to kingield, Il miles, and in
addition leases the track and rOadbed
of the Kingficld & Dead River Rail
way from KinGfield to BigeloW. dis
lance of 16 miles, making in all 81 miles
of road operated by the company. It's
gross earnings from operation for the
year ending June 50, 1901. amounted to
S3l, 3i1.91, and its operating expenses
Were $50, 13%. 20. leaving 4 deficit of
81, 1852. The total deductions from in
come amounted to $22i2.56 making
total of 81, 033.3S. The miscellaneous in
come amounted to $ii.16. The total
deficit for the year amounted to $685..
% The whole deficit now amounts to
S1o,771.9S. There is no way of ascer-
tanning the cost of the road. it having
| been taken by it's bondholders under
process of foreclosure. The road was
formerly known as the Franklin &
Megantic Railroad Company, but on
March %. 1901, it was recognized under
TIE Ilslii!e VI " AVN so'Nii''o
Railway Co. The cost, therefore,
| of the road and equipment rerre
sents the amount of capital stock
issued, the funded debt and improve
ments made by the new company.
These and all other liabilities amount
to the sum of s114,272.S2.
i The Kennebec Central, running from
Randolph to the Soldiers Home at
| TocuS, n distance of five miles, makes
splendid showing. Few short lines in
| the country have done so we'll as this
road since its operation was begun
| dozen years or so ago. For the year
ending June 80, 1891, its gross earn
ines from operation amounted to SIG
lls.16, and its operating expenses ag-
gregatad $10.3S1.21, leaving = total in
come from operation Of $5.$l.95. In
terest on the funded debt, which
amounts to 100000. and a dividend of
6 per cent. ON the common stock We're
paid. The sum of $1523.45 was added to
the surplus making Il total of ST., 2i3.52.
l1he grand total cost Of the construc-
tion ana equipment Of the road up to
June 30 1901. was $Sl. 51S.65.
Tho Nionsnn Railroad Company was
organized in 1882. ana the road was
built from Monsoon Junction, on the line
village of Monson. and the slate quar-
ries beyond a distance of SIG miles
The road has not had a prosperous ex-
istence The gross earnings from
operation for the year ending June 20,
1901. amounted to $6519.G5; operating
expenses. $6.SS. There was a total
miscellaneous income of $16.21, making
Il total income from all sources Of
$780, CO. The total deduction from in
come amounted to $5lii.94. having a
deficit for the year of $iS34.31. The
total deficit charged up against the
road on June so. 1901. was $l44,G7S.Si.
The total cost of construction and
equipment of the road up to that date
was $1S14S.63. SO that the deficit is
nearly twice as much as the whole
cost of the road. The report states
i"PreviouS reports have shown as total
cash realized the sum Of $4,000 in
which statement the present ac-
countant has followed the statement of
his predecessor, but has now ascer-
tanned that the stock was issued as a
bonus to the purchasers of bonds and
no cash realized"
The Phillips & Rangeley is another
road with a good sized deficit, which
amounted to $S1. 1888 at the time of
the last report. The road runs from
Phillips TO Rangeley a distance Of
2S60 miles. It's gross earnings from
operation for the year ending June 80.
1901, amounted to $300I6.90 and the
operating expenses aggregated $25,-
Si6.l5. having q total income Of
S4I00.75. The total deduction from in
come was s13,702.43. making a defici.
[ for the year of S900l.6S. The total cost
of construction and equipment was
1926. &c. The road is bonded for
100000 at per cent. interest. The
liabilities amount to 1886, 69513, in
Guiding capital stock, funded debt.
!. current liabilities, accrued interest on
: funded debt not yet payable and on
= floating debt not yet paid.
Another of the Franklin county mar
row gauge roads likewise has a deficit
of respectable proportions. The Sandy
River road, like it's neighbors, the
Franklin & Megantic and the Phil
lips & Rangeley. has had its bitter
experience. but it is doing well now. A
Slice of its deficit was cut off during