Norwich bulletin., 1909-07-20


holders of the Groton and Stonington
Street Railway company was held at
Mystic at 10 o'clock on Monday morn
ing. AT which there was q large repre-
sentation of stock
Statement Of President Hamilton.
President Thomas Hamilton submit
ted the following report:
To the Stockholders of. the Groton
and Stonington Street Railway
Company:
Gentlemen: 1 am pleased to report
that, notwithstanding the continued
depression in business, especially along
the route of our road at Noank, where
the Palmer Shipbuilding Co., which has
employed about $50 men, has practi-
cally shut down the past year, our
gross receipts. have materially in
creased
This / would credit to the gradual
increase of our express business, which
at the present time amounts to about
$40 a month more than last year.
The Importance of this branch of the
business was especially called to your
attention in my report at the last an
nual meeting and l predicted this gain
at that time. l believe that the re-
ceipts from this branch of the business
will continue to increase, especially
when 1t Is possible to run our cars
across the river on a bridge to New
London and have our terminus at the
parade. This will surely come about
within the next FIVE years.
wish you to know that the man
agement has secured from the legisla-
ture at this present session a renewal
of its original charter in Groton, which
provides way to get to a bridge to
cross the river.
We have also acquired charter for
building branch road from Mystic to
Old Mystic, distance of about three
miles, and / believe that il this is
built itswill pay from the start, as 1t
could be run with very little addi-
tional expense to. the company. We
could connect with the New. York, New
Haven and Hartford railroad at the
Mystic station and carry carloads of
freight to the mills at Old MysZc.
am not able to give correct figures as
to the actual cost of building this road
but it could be done cheaply, as there
would. be no grading.
During the past year we have spent
1892 in permanent improvements.
This includes bricking our proportion
ate part OF the track at Westerly, mac
adamizing road at Noank, clearing
curve at Denison cemetery, changing
over and raising track in Groton, in
stalling boiler in car barn, erecting oil
ders. building waiting station at West
Mystic, building freight stations at
Noank, Mystic and Stonington pur-
chasing land and relocating station at
Stonington, lighting six waiting sta
tions, curves, etc. These improve
ments were absolutely necessary and
have been great advantage to the ef-
ficiency of the road.
Statistics show our operating ex-
penses, which in 1908 were less than
81 per cent. OF our gross earnings, to
be the lowest in the state.
Our power station is in first class
condition and is still in charge of Mr..
Barry, who. has been with US since we
began operation and who is RESPONSE
Bile for the good condition of our ma
chinery and for keeping the station in
SUCH good order at a small expense.
Our cars and equipment are in fine
condition and our roadbed and track
are as good as there are in the state:
our accommodations and conveniences
for the patrons of our road are the
best in the state, and our conductors
are favorably commented on for their
politeness and courtesy to passengers
These facts go to show that our SUI
perintendent, Mr.. Riley, is faithful and
energetic and works for the success of
the company, and he deserves credit
for his good work..
We naturally must expect a greater
outlay for repairs as time goes on, but
our receipts will decrease more in pro-
portion, and ] am confident that our
income will continue to increase from
year to year..
The report of Treasurer Costello
Lippitt shows the gross earnings for
the year to have been $10S74179
which is a gain over last year The
amount Of dividends declared amount
to $4,000 The number of passengers
carried was 2,16s,217 for the year.
Directors and Officers Elected.
The stockholders elected the follow
ing directors for the ensuing year:
Thomas Hamilton, Groton; Costello
Dippitt. Norwich; Charles w. Com
stock, Norwich; B. A. Armstrong, New
London; Edwin w. Higgins, Norwich:
G. r. Hanscom, New London, B. F.
Williams, Mystic; A. H. Chappell, New
Londop Charles D. Moves. Norwich.
At subsequent meeting of the di
rectors the following officers were
elected for the. ensuing year: Presi-
dent. Thomas Hamilton; vice presi-
dent, B. F.. Williams; treasurer, Co.'S
tello Lippitt; secretary, Charles d.
Moves; attorney, Charles w. Com
stock.
The usual dividend Of per cent,
payable August Is to stockholders of
record August /, was declared.
The year has been a very successful
one for the company as shown by the
reports. The car earnings were great
er than ever before, and the express
earnings show a large and handsome
increase. The per cent. of the operat-
ing expense to the gross earnings 'fs.
the smallest. of any road in the state.
1t shows the effect of the efficiency of
the superintendent during the year..