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$12,117,018; unproductive, $5,806,594. It is not improbable that the Androscoggin Railroad, and Somerset and Kennebec may earn hereafter a sum sufficient for the payment of the interest on their debts. Statement, shewing the Share Capital and Debt of the several Railroads of the State of Maine, with the amount of productive, and unproductive capital in each : Corporate Titles

-Share Capital Funded Floating -Total Debts. of cumpanios. Total. Productive. Unprod. Debt. Debt. Productive. Unprod Androscoggin :

$151,832

$151,832 $388,439 $213,279 $330,939 $270,779 Androscoggin & Kennebec 457,900

457,900 1,747,457 101,209 1,848,666 Atlantic & St. Lawrence.. 2,494,900 2,494,900

3,472,000 8,000 3,480.000 Bangor, Oldtown & Milford 135,000

135,000

40,576 40,576 Calais & Baring..... 100.000 100,000

114,800 4,737 119,534 Great Falls & S. Berwick. 93,561

93,561 60,000 12,599

72,599 Kennebec & Portland....1,287,779 202,400 1,085,379 1,280,000 271,143 800,000 751,143 Lewey's Island......... 171,310

171,310 210,000

150,000 60,000 Penobscot & Kennebec... 555,229

555,229 1,206,800 150,936 1,050,000 307,736 Portland, Saco & Ports' h.. 1,500,000 1,500,000 Somerset & Kennebec... 168,200

168,200 550,000 117,926

667,926 York & Cumberland ..... 370,000

370,000 438,000 50,000

489,000 Total ......

• 7,485,711 4,297,300 3,188,41! 9,467,496 970,405 7,819,718 2,618,183 From the statement on the next page it appears that the total earnings of all the lines of the State from the date of the opening of the first road has been $12,216,366. Of this sum $6,353.749 have been received from passengers; $5,296,655 from the tranportation of merchandise, and $565,962 from the transportation of mails and from other sources. The current expenses in the meantime have been $6,926,978; net earnings, $5,289,388. A portion of these have been used in construction and in the maintenance of the roads-expenditures that do not appear in the annual statements of the railroad companies. The gross earnings of all the roads have equalled 8.3 per cent. on the cost.; annual expenses 4.7, and the net earnings 3.6 on the cost. The total amount of dividends paid has amounted to $2,335,261. For several years past they have equalled 2.7 per cent. on the Share Capital of all the companies. The general result is an unfavorable one. There is probably no State in which facilities for travel and transportation by water are afforded in so great a degree as they are to the people of Maine. Only a very small proportion of its commerce or travel passes over its railroads. This is seen in the earnings of the railroads, which equal only about two dollars per head of the population, while the average for the whole country is fully twice that sum.

The new works proposed are the Penobscot Railroad, and the York and Cumberland Railroad, both partially constructed; the European and North American, and a railroad following up the Penobscot River from Oldtown, and extending into the northeast portions of the State. By the European and North American Railroad it is proposed to connect the railroads of Meine with those of New Brunswick and Nova Scotia. The object of the railroad

up the Penobscot River is to give railroad facilities to remote portion of the State, and thereby to aid in settling it and in the development of its resources.

RAILROADS IN THE STATE OF MAINE.

STATEMENT showing the Share Capital, Indebtedness, Cost, Mileage, Receipts for transportation of Passengers, Receipts for transportation

of Freight, Receipts for transportation of Mails, Operating Expenses, Net Earnings, and Dividends paid by the Railroad Companies of the State of Maine, for each year since the opening of the first road:

Year.

less exp.

Capital
-Indebtedness

Total

Mile-
-Receipts-

Operating Earnings Divi-
paid in.
Funded. Floating. Liabilities. Cost.

age. Pass'r. Freight. Mails, etc. Total.

expenses.

dend.

Year.
1837.. $354,000
$. $354,000 $354,000 11 $11,040 $10,105 $.

$21,145 $15,297 $5,848 nil. ...1837
1838....
354,000
354,000 354,000 11 11,596 9,955

21,551 14,577 6,974

... 1838
1839. 354,000
354,000 354,000 11 9,461 10,201

19,662 14,501 5,161

...1839 1840.. 354,000 354,000 354,000 11 10,220 6,104

16,324 13,888 2,436

· 1840
1841... 354,000
354,000 354,000 11 7,955 3,888

11,843 9,620

2,223

.. 1841
1842. 378,000
378,000 378,536 11 6,877 11,988

18,865 13,243 5,622

. 1842
1813... 1,500,000
1,500,000 1,426,730 62 35,894 9,204 2,820

47,916 34,900 13,018 36,680 ...1843
1844.... 1,600,000

1,600,000 1,537,519 62 92,616 23 164 9,062 124,842 60,176 64,666 69,600 ... 1844 1845.... 1,650,000

1,650,000 1,615,286 62 116,113 26,938 7,129 150,180 64,131 66,049 69,440 ... 1845
1616..... 2,000,000 500,000 100,000 2,600,000 1,629,286 62 109,034 32,311 8,903 150,248

70,109 80,139 70,000 ...1846
1847.... 2,500,000 1,000,000 150,000 3,650,000 1,639,353 62 134,707 29,835 6,677 173,219 72,753 100,466 70,000 ... 1847
1848.. 3,000,000 2,000,000 200,000 5,200,000 1,106,824 62 143,740 40,400 10,588 194,728 78,840 115,888 71,561 ... 1848
1849... 3,500,000 2,500,000 250,000 6,250,000 1,427,091 62 142,253 32,374 10,410 185,037 81,319 103,718 71,520 ... 1849
1850.. 4,000,000 3,000,000 300,000 7,300,000 3,070.854 112 249,994 93,747 17,230 360,971 149,912 211,059 78,000 ...1850
1851.... 4,927,000 3,737,000 369,000 9,033,000 8,404,778 284 365,746 190.288 28,953 584,987 275,267 309,720 82,510 ... 1851
1852.. 5,072,000 5,994,000 690,000 11,656,000 11,201,819 328 423,469 252,952 29,979 706,400 332,830 373,570 98,949 ... 1852
1853.... 5,691,000 7,037,000 592,000 13,320,000 13,016,843 334 505,931 353,172 45,966 905,069 417,156 487,913 107,769 ... 1853
1854.... 5,527,000 7,977,000 917,000 14,721,000 13,572,505 386 635,747 545,620 58,272 1,239,639 662,196 577,443 242,938 ... 1854
1855. 6,016,000 8,602,000 987,000 15,605,000 14,141,629 386 677,971 657,516 58,492 1,393,979 818,961 575,018 243,938 1855
1856.... 6,992,000 9,016,000 1,129,000 17,137,000 16,929,886 462 750,303 731,262 63,783 1,545,348 1,033,883 511,465 255,838 . 1856
1857.... 7,143,000 9,379,000 1,192,000 17,714,000 17.025,539 484 727,899 753,182 57,438 1,538,519 1,029,650 508,869 255,838 ...1857
1858. 7,319,000 10,005,000 1,347.000 18,671,000 18,099,390 511 611,833 707,363 70,185 1,389,381 833,340 556,041

254,838 1858
1859*.. 7,810,000 10,092,000 1,164,000 19,066,000 18,382,207 511 573,350 765,086 78,075 1,416,511 830,429 586,082 255,838 ..*1859
23 years. 78,695,000 80,739,000 9,387,000 168,821,000 146,675,075 4,348 6,353,749 5,296.655 565,962 12,216,366 6,926,978 5,289,388 2,335,261
Average. 3,421,521 3,510,391 408,130 7,340,042 6,377,177 189 276,252 230,288 24,606 531,146 301,164 229,982 101,533 Aver.

23 ys.

* Including the capital and liabilities of the Machiasport and Penobscot Railroads, etc., not embraced in the Table on p. 11. RAILROADS OF THE STATE IN DETAIL.

ANDROSCOGGIN RAILROAD.
(Financial year ending 30th November, 1859.)

66

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BOARD OF DIRECTORS AND OFFICERS, 1859–60.
Ozias Millett.
Leeds, Me. Giddings Lane...

..Leeds, Me. Ensign Otis..

John Smith...

Livermore, John Dyar..

. Freeman,

"

Stephen H. Reed .Leviston, John B. Jones, President..

.. Lewiston, Me. J. A. Linscott, Treasurer

.Farmington,
L. W. Eaton, Superintendent.

.Farmington,
PRINCIPAL OFFICE...

.FARMINGton Franklin Co., Me. LENGTH OF ROAD—Leeds Junction to Farmington ..

36.50 miles Rolling Stock-Locomotive Engines ..

4 Cars :-Passenger, 4, and merchandise, etc., 21...

25

ter year.

The Androscoggin Railroad Company was chartered by the Legislature of Maine on 10th Aug., 1848, and was authorized to construct a railroad from Leeds Junction to the village of Farmington. The survey was made in 1849–50, and the work of construction commenced in the summer of the lat

That portion of road from Leeds Junction to Livermore Falls, a distance of 20 miles, was opened for public use in the fall of 1852, and the remainder in sections as follows:—to North Jay, 26 miles, in 1856; to East Wilton, 32 miles, in 1857, and to Farmington, 36 miles, in June, 1859. At Leeds Junction this road connects with the Androscoggin and Kennebec Railroad, and through it with Portland (143 miles from Leeds) and the roads towards Boston.

The Company propose to extend its line from Leeds Junction to the Grand Trunk Railway at Danville. SHARE CAPITAL-Authorized, $250,000, in 5000 $50 shares.

Paid in, $151,832. In 1854–5 the Company created a Preferred Stock, entitled to 10 per cent. dividends until the net earnings were equal to 6 per cent. on the cost of the road, when the Preferred was to rank with ordinary Stock. The Company claim that this condition has been fulfilled, and no dividends on Preferred Stock have been paid since 1856.

Funded Debt-$700,000: in detail as follows1st Mortgage, 6 per cent. coupon bonds

-$100,000 -dated 26th Sept., 1853, and payable, principal in 10 years, and interest seiniannually, 1st April and 1st Oct. The interest on this class of bonds is payable at the Bank of Commerce, New York. 2d Mortgage, 6 per cent. coupon bonds. -

-$100,000 -dated 1st Sept., 1854, and payable, principal in 10 years, and interest semiannually, 1st April and 1st Oct. The interest on this class is payable at the Company's office, or at Portland, Me. 3d Mortgage, 6 per cent. bonds

-$300,000

-dated 11th Dec., 1856, and payable, principal 1st June, 1877, and interest semi-annually, 1st June and 1st Dec. The mortgage in this case made provision for an issue of $500,000, of which $200,000 are retained to discharge the 1st and 2d Mortgage Bonds at maturity. The interest on this class is payable at the Company's office, or at Portland, Me. Of this class $169,061 remain unsold. Income, 6 per cent. bonds

$200,000 -dated 1st Jan., 1858, and are payable, the capital in stock 1st Jan., 1870, and the interest in cash semi-annually, 1st Jan. and 1st July. The interest on this class is payable at the Company's office, or at Portland, Me. Of this class $142,500 remain unsold.

Floating Debt-8213,279, bills payable, etc.

Cost of ROAD AND EQUIPMENT_$757,381; in principal detail as follows: Graduation..

$182,762 | Superstructure, including iron.. $164,763 Masonry...

10,000 Stations, buildings, and fixtures...... Land and land-damages. 10,800 | Rolling stock...

26,124 Bridging. 4,900 Engineering, etc.

7,096 Construction in 1859..

67,470

INCOME Account FOR THE YEAR ENDING 30th Nov., 1859. Receipts

DisbursementsJoint freight $12,806 | Pay rolls....

$12,643 Joint passengers 21,007 | Wood........

1,140 Local freight 1,539 | Oil and waste.......

626 Local passengers. • 2,217 | Repairs on engines and cars.

125 Express and extra baggage. 750 i Track repairs.

201 Mails... 1,836 Mail expenses... ..........

200 Incidental expenses......:

542

Balance, being net earnings........... 24,678 Total... $40,155 Total..

$40,155

GENERAL LEDGER BALANCE SHEET, 30th Nov., 1859. Cr.

Dr. Capital Stock •$151,833 Graduation.

$182,762 Bond Accounts 444,638 Masonry...

10,000 Balance Floating Debt.. 169,910 Land and land-damages..

10,800 Bridging......

4,900 Superstructure, including iron

164,763 Cars and engines..

26,124 Engineering

7,096 Paid construction in 1859............. 66,470

Other items, interest, discount, etc..... 284,466 Total.... • $757,381 Total

$757,391

P. c.

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Cost, EARNINGS, Expenses, Etc., YEARLY. Cost of Road, Miles

-Gross Earning

Operating Net Dividends Year. &c. of Road. Pass'r. Freight. Mails,&c. Total. expenses. earnings. $ 1853.. $315,365 20 00 $9,168 $9,555 $428 $19,151 $10,000 $9,151 nil. nil. 1854.. 343,317 20.00 13,916 14,145

29,782 16,975 12,807 1855.. 363,551 20.00 13,427 14,592 1,564 29,583 16,892 12,691 1856.. 454,277 20.00 11,080 12,845 1,284 25,209 16,326 8,883 1857. 555,897 26.00 10,976 13,051 1,338 25,365 13,489 11,876 1858.. 645,271 32.00 10,877 18,609 1,471 30,957 13,693 17,264 1859.. 757,388 36.50 23,224 14,345 2,586 40,155

15,479 24,676

1,721

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83,435,066 174.50 Aver.. 490,724 24.9

92,668 97.142
13,238 13,877

10,392 200,202 102,854 97,348
1,484 28,600 14,693 13,907

66

ANDROSCOGGIN AND KENNEBEC RAILROAD.

(Financial year ending 31st May, 1859.)

Board of DireCTORS AND OFFICERS, 1859-60.
Jedediah Morrill
Waterville, Me. Ashur Hinds...

Benton, Me. Wm. Goodenow...

.Portland, . Samnuel P. Benson. Winthrop,“ Rufus Horton.

Ira Crocker ...

.Portland, John WARE, President..

Waterville, Me. Joshua Nye, Treasurer..

Edwin Noyes, Superintendent.. PRINCIPAL OFFICE...

.WATERVILLE, Kennebec Co., Me.

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LENGTH OF ROAD—Danville Junc. (Atl. & St. Law.) to Waterville.........55 miles.

No second track. Sidings and turnouts about 6 miles.

Rolling STOCK-Locomotive Engines

Cars :—Passenger, 10; merchandise, etc., 128.

9 .138

The Androscoggin and Kennebec Railroad Company was chartered on the 28th of May, 1845, (Spec. Laws, chap. 270). The construction of the road was commenced in July, 1847. The first division, from Danville Junction to Winthrop, 20 miles, was opened on the 3d of July, 1849; the second, from Winthrop to Waterville, 35 miles, on the 27th of Nov., 1849.

SHARE CAPITAL-Authorized, $1,400,000, in 28,000 $50 shares.

Awarded and paid in, 457,900, in 9,158 $50 shares.

FUNDED DEBT_$1,747,457; classified as follows 18t Mortgage, 6 per cent., coupon bonds. ..

-$1,000,000 -issued in 1850, $80,500; in 1851, $255,700 ; in 1852, $436,400; in 1853, $148,900; and in 1854, $78,500—payable in 10 years. Interest semi-annually, (1st June and 1st Dec.,) at Waterville or Portland. Stock, 6 per cent., coupon bonds ..

-$710,000 -issued in Jan., 1853, $433,800; at different periods the same year, $66,200; March, 1856, $100,000, and 1st December, 1856, $110,000—payable in 10 years. Interest semi-annually, (1st June and 1st Dec.), at Waterville or Portland. Principal payable in stock. Old 1st Mortgage Bonds, 6 per cent., (payable on call).

$29,557 Interest ($8,400), and Furniture ($500) Bonds, due..

8,900

Floating Debt-$101,209, viz. : bills payable, $92,649; coupons, $6,740,

and sundry accounts, $1,820.

Cost of ROAD AND EQUIPMENT—$2,210,947; in detail as follows Graduation and masonry. $700,561 Locomotive engines...

$82,964 Bridging...

89,368 Passenger and other cars... Superstructure, including iron... 495,749 | Engineering

36,245 Land, land-damages and fences. 55,534 | All other expenses.

759,526

INCOME AccounT FOR THE YEAR ENDING 31st May, 1859.

Balance from Income Account........ 831,202 | Balance charged to Income...
Interest on bonds, etc.

107,535 Net Income, 1859 .. Total....

$138,737 Total..

$48,972 89,765

$138,737

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