Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1912-10-26
STATE HOUSE.
First Annual Report Of
Portland Terminal Co.
Men as Well as Horses in
Danger from Chambers.
Experiment Station Council Com
mittee Holds a Meeting.
STATE HOUSE CALENDAR.
Regular Meeting of Governor and
Council, Thursday, Nov. Fl, at 10 A. M.


Council, Thursday Nov. 21 at 10 A. M.
The first annual report Of the Port
land Terminal Co, was filed, Friday,
with the State Board of Railroad Com
missioners. The name of the Portland
Union Railway Station Co., organized
in 1887, WAS by Chapter 1S9 of the Pri-
vate and Special Laws OF 1911, changed
to the Portland Terminal Co, and the
railroad terminal, thereby established,
authorized to include without its limits
any or all of the properties of the Port
land Union Railway station &C., the
Boston &c Maine Railroad, the Maine
Central Railroad Co, the Ieasehold in
terests of the Me. Central Railroad Co,
as lessee of the Portland & Ogdens-
burg Railway and of the Portland &
Rumford Falls Railroad situated in
the cities of Portland, South Portland
or Westbrook, and any or. all of the
properties, situated in either of these
cities, of any other railroad company
using the terminal facilities under
agreement with the Portland Terminal
Co. The total authorized capital stock
is 81 900, 600.
The operating revenues for the year
36a.s1; operating expenses. SCI, 616.75;
net operating revenue. $40, 1896; reve-
nues of outside operations. $1i1. e51.5S;
expenses of outside operations, s24,609-
Al: net revenue from outside opera
lions. S57,042.11; total net revenues,
s136. 1911; taxes accrued, SIC. 42s.47;
operating income, 96,266.70; income
from joint facilities, 100000; from mis-
ca inf. ~
crued on funded debt owned or con-
trolled, s1415; total other income. SPA
019.15: gross corporate income $3203s5-
.s5. Deductions from gross operate IN
come include: rents accrued for lease
of other roads, s52. 1853. hire of equip
ment, $10170.13: miscellaneous rents,
s104I. IS: interest accrued ON funded
debt, s11,440; other interest, s166,0o59i !;
sinking and redemption funds charge
able to income, $4,000; total deductions
from gross corporate income, S24S,t9z
81: net corporate income $40, 39S.2S
Two and one-half per cent dividends
were paid on common stock. jan l
and July 1. 1912, amounting to $37 800,
leaving balance for the year carried
forward of s39,09S.2s.
The operating revenues include:
Freight revenue. S34,9l5.55; passenger
revenue. $685. 40; excess baggage rev
enne. ss24; mail revenue. s1l1l5;
switching revenue, 81 ,s34.Sl; speelai
service train revenue, S45: total reVe-
nue. from transportation. s5s,2sf.ea; sta
ton and train privileges, S423.4l par
eel room receipts, SGs9S9o; freight stor-
age. $3.50; baggage storage, Sl6s@oo'
car service, s9123; telegraph ana leie-
phone service. s90011; rents OF build
ings and other property, SlS,Sio'zs' ms
caIlaneous. SS72S. 16; total revenue from
operations other than transportation,
sac, 1926. ,.-.,.aa
The operating expenses are dlViee9
as follows: Maintenance of way anu
structures. SS24.29; maintenance oi
continent. $3.50 30; traffic expenses
se67. 10. transportation expenses, >ll'.
aa5. general expenses. $s60f.5s. Rates Vi
onerating expenses to operating feVe-
rues 21.32 per cent.
The following important changes
during the year are noted:
All railroad property in the cltles Va
Portland. South Portland and west
brook formerly owned by the MaiHe
Central Railroad Co, and the Boston
e Maine Railroad purchased, as Vi
nlv /. 1911. Mileage abandoned De
tween Preble street and Deerlns jun
tion formerly, w. n. & p. DIVISION OF
the Roston & Maine Railroad, LOS
miles. suitcase of all property oil the
portland & Ogdensburg Halfway anu
the Portland & Rumford Fails Kan
road in the cities of Portland, south
Portland and Westbrook, taken as VI
Jnlv / 1911. Name of corporation
changed from Portland Union Railway
station Co. to Portland Terminal 20.
Tnlv / 1911. Thirteen hundred shares OF
portland Terminal Co. capital stocN
issued in exchange for capital STOCK
and stock scrip of the Portland Union
Railway station Co. 800 shares issued
in exchange for property purchased
and 5000 shares sold for cash. Notes
tn the amount of $i,0o4,0 600, exchange
able. for first mortgage bonds given
the Maine Central Railroad Co, ana
the Boston & Maine Railroad in pay
ment fer property purchased.
The total number OF employees for
the fiscal wear was 1899 and they work
ed a total Of $50, iS7 days. The total
YEARLY compensation was $1,115, 069 Al,
and the average daily compensation,
g. &c. Eleven general officers receiving
nav from the Maine Central Railroad
Co. employed in similar capacities
with the company, without compensa
ton. worked 37l2 days.
Total number of cars handled earn
ing revenue, 22,546; total number OF