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General Ledger Balance Smeer, 1st June, 1859.

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Year. 1851... 1852. 1853 1854. 1855 1856 1857 1858. 1859

Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Miles
-Gross Earnings-

Operating Net
Road, &c. of road. Pass'r. Freight. Mails, &c. Total.

expenses. earnings. $1,816,670 55 860,023 $37,732 $4,892 $102,647 $63,549 $39,098 2,009,168 55 67,088 52,208 6,362 125,658 58,079 67,579 2,020,247 55 71,647 63 211 5,703 140,561 60,507 79,954 2,176,506 55 85,596 68,283 7,442 161,321 67,950 93,371 2,245,020 55 97,941 85,188 7,475 190,604 99,807 90,797 2,210,947 55 107,417 94,931 7,125 209,473 99,676 109,797 2,210,947 55 89,758 62,606 7,057 159,511 84,894 74,517 2,210,947 55 82,462

67,584 9,468 159,514 76,146 83,368 2,210,947 55 75,687

76,386
9,032
161,105 71,338

89,767 $19,119,415 495 $737,619 $608,129 $64,556 $1,410,294 $681,946 $728,348 $2,124.491 55 81,957 67,569 7,173 156'699 75,772 80,929

Average

On the 30th of November, 1856, the Androscoggin and Kennebec Company took a lease of the Penobscot and Kennebec Railroad for a period of 20 years, by which the former agreed to run the latter road, to maintain the same in good condition during the continuance of the lease, and pay to the Penobscot and Kennebec Railroad Company three-sevenths of the net profits of the joint business.

The two roads conjointly have a length of 110 miles, and an equipment of 13 locomotives, 20 passenger cars, and 221 merchandise and other cars. The total cost of both roads is stated at $1,004,394.

The operations of the united line for the past year are exhibited in the following statement :

INCOME ACCOUNT FOR THE YEAR Ending May 31, 1859. Receipts

DisbursementsFrom 101,177 passengers.. $132,457 81 For repairs of track...

841,669 13 70,455f tons Merchandise.. 133,665 34 repairs of engines and cars..... 22,894 09 Express, mails, &c. 15,806 71 " salaries and gen'l management. 38,520 07

3,684 84 1 fuel.:

18,071 68 And. and Ken. Co., 4-7.889,765 74

Pen. & Ken. Co., 3-7. ... 67,324 31—157,390 05 Total...... $281,929 86 Total..

$281,929 86 Since the execution of the lease, the net income of the joint business has been $380,087, divided as follows:

Total Net.

Proportion due Prop'n due
Income.
A. & K. Co.

P. & K. Co. 9857 (Six months).

$77,103
$43,933

$33,170 1858

145,894
82,369

63,526 1859

157,090
89,766

67,324 Total.....

$380,087
$216,067

$164,020

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1 oil and waste...

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Year. 1857.... 1858.... 1859.

Joint Cost, EARNINGS, EXPENSES, ETC., YEARLY.
Cost of Miles
-Gross Earnings-

Operating Earnings
Road, &c. of Road. Passenger. Freight. Mails, &c. Total.

expenses. less exp's. $3,967,063 110 $175,521 $133,372 $13,417 $322,310 $150,373 $171,937 3,996,321 110 144,303 118,273 16,568 279,149 133,255 145,894 4,004,394 110 132,458 133,665 15,806 281,929 124,839 157,090

ATLANTIC AND ST. LAWRENCE RAILROAD.

(Financial year ending 30th June, 1859.)

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BOARD OF DIRECTORS AND OFFICERS, 1859–60. John B. Brown... .Portland, Me. Geo. F. Shepley.... Portland, Me. Charles E. Barrett..

H. J. Libby.. Phineas Barnes...

James L. Farmer John M. Wood....

Byron Greerough. St. John Smith, President...

.Portland, Me. CHARLES E. BARRETT, Treasurer

S.T. CORSER, Superintendent... PRINCIPAL OFFICE...

.Portland, Cumberland Co., Me.

.149.00 miles.

25.00

LENGTH OF ROAD—Portland, Me., to Island Pond, Vt.....

Second Track, including sidings, turnouts, etc.

Total equivalent single track

.174.00 miles.

Rolling Stock-. Locomotive Engines.....

Cars :-Passenger, 17; merchandise, etc., 319.

41 366

The Atlantic and St. Lawrence Railroad Company received its charter from the three States through which its road has its route—from Maine on the 10th of February, 1815; from New Hampshire on the 30th June, 1848, and from Vermont on the 20th October, 1817. The work of construction was commenced in Maine on the 4th July, 1816, and the road was opened for public use as follows:-On the 4th of July, 1848, from Portland to Yarmouth, 12 miles; in December, 1848, to Danville, 28 miles; on the 8th June, 1850, to Paris, 48 miles; in March, 1851, to Bethel, 70 miles; on the 23d July, 1851, to Gorham, N.H., 91 miles; on the 12th July, 1852, to Northumberland, 122 miles, and on the 29th of January, 1853, to Island Pond Junction, Vermont, 149 miles.

On the 5th day of August, 1853, a lease of the Atlantic and St. Lawrence Railroad, with its franchises, and all the property belonging to the same, was executed to the Grand Trunk Company of Canada for a period of 999 years. By the terms of the lease the Grand Trunk Company obliged itself to maintain and run the road for the period named, and to assume all the obligations of the lessors, and to pay on its Share Capital semi-annual dividends equal to six per cent. In case of breach of contract the road to revert to the original owners. SHARE CAPITAL-Authorized, $1,000,000.

Paid in, Dollar Shares.. $957,600 in $100 shares.

“ Sterling Shares..$1,537,300 in £100, or $184 shs. The dividends on the Dollar Shares are paid at Portland, and on the Ster: ing Shares in London, at the office of the Grand Trunk Company.

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FUNDED DEBT-$3,472,000: in detail as follows: 1st Mortgage, 6 per cent., coupon bonds

-$1,500,000 These bonds were created in favor of the city of Portland as security for the payment of bonds to the same amount, issued by the latter for the benefit of the company, in 1848, 1849, and 1850, and in nearly equal instalments. The several issues are payable 20 years from date. The interest on Portland City Bonds is payable as followsIn Boston... $150,000 -int. p'ble May and Nov. In N. York. $150,000-int. p’ble Apr. and Oct. 250,000 Jan. and July. In Portland. 200,000

June and Dec. 200,000 Feb. and Aug.

100,000

May and Nov. 350,000 Apr. and Oct.

100,000"

Feb. and Aug. These bonds, by statute, constitute a first lien on the road, and equipment. 2d Mortgage, 6 per cent., coupon bonds--

-$1,488,000 This class of bonds was issued on the 1st April, 1851, payable in 15 years from that date; interest payable semi-annually, at the Company's Office, in Portland. Of this sum only $988,000 are in circulation, $500,000 of the amount being held by the city of Portland as security for a loan of the bonds of that city to the company to an equal amount, in addition to the $1,500,000 loan already described. Sterling, 6 per cent., coupon bonds

---£100,000 or $484,000 This class of bonds was issued November 1st, 1853, and is payable on the 1st Nov., 1878, at the office of the Grand Trunk Company in London. Interest payable semi-annually, 1st of Nov. and May. These bonds are not secured by any lien upon the road.

1853

SINKING FUNDS...

--$284,567 11. The law authorizing the loan of the Credit of the city for the benefit of the railroad, provided for the creation of a Sinking Fund, applicable to the first issues of $1,500,000. To this fund the Railroad Company was required to contribute a sum equal to two per cent. of the scrip issued, and to pay over annually to the same, for a period of five years, one per cent on the amount of scrip issued; and after five years one and a-half per cent. The amount of the Sinking Fund on the 1st July, 1859, was $284,567, as follows:

1. Fund established by the Act of 2. Fund established by the Act of August 1, 1848:

July 27, 1850:
Principal.
Interest.

Princinal.

Interest 1849

$8,000
$120 00 1851

$15,000

$50 00 1850 14,250

686 95
1852

5,000

775 00 1851

16,500
1,499 95

5,000

1,299 33 1852

10,000
2,174 08 1854

5,000

1,665 14 1853

10,000
3,279 39 1855

5.000

2,069 22 1854

15,000
4,015 56 1856

7,500

2,516 60 1855

15,000
5,143 01 1857

7,500

3,061 42 1856

15,000
6,380 93 1858

7.500

3,577 69 1857

15,000
7,553 02 1859

7.500

4,797 34 1858

15,000

8,988 24 1859

15,000
11,164 14

$65,000 $19,811 74

65,000 00 $148,750 $51,005 27 148,750 00 | Total, July 1, 1859..

• $34,811 84 Total, July 1, 1859.....

· $199,755 27 The City Loan of $1,000,000, for The City Loan of $500,000, for which this fund was established, will which this fund was established, will mature at various periods from Dec. mature Feb. 1, 1871. 1, 1868, to Jan. 1, 1871.

The state of the investments of both funds is as follows: City Scrip of Railroad Loans, $101.500; Mortgages of Real Estate, $149,132; County Securities, $19,000; Boston and Maine RR., 33 shares, $3,300; Boston and Worcester, 37 shares, $3,700; Portland, Saco and Portsmouth, 53 shares $5,300; Premium Account, $375; Cash, $2,260_Total, $284,567.

FLOATING DEBT-$8,000, notes payable. This road being leased to the Grand Trunk Railway Company of Canada, all its accounts are kept by the Company. Reports are, however, made, as required by law, to the Legislatures of the States of Maine, New Hampshire and Vermont. The Report nade to the Legislature of Vermont for the year ending June 30th, 1859, states the cost of the road to be $7,217,257. To this sum should be added, probably, $200,000 for materials on hand for working and maintaining the road. The sources from which this sum has been derived are as follows: For share capital...... $2,494,900 | Sterling Bonds.

$184,000 City of Portland Bonds.

2,000,000 | Grand Trunk Railroad Company.... 1,453,570 2d Mortgage Bonds. 988,000

$7,417,257 The road having been built for a gross sum, its cost cannot be given in detail.

The statement of earnings, expenses, etc., from the opening of the road to 1853, the date of the lease, are taken from the Company's Reports. From 1853 to 1856, from Reports made to the Legislature of New Hampshire; and from 1856 to 1859, inclusive, from Reports made to the Legislature of Vermont. The expenses and net earnings for the past year are estimated, no statement having been made of the same.-See Grand Trunk Railway of Canada.

Total

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Cost, Earnings, EXPENSES, ETC., YEARLY.
Cost of Miles
-Gross Earnings-

Operating Net -Dividends Year. Road, &c. of road. Pass'r. Freight Mails, &c. Total. expenses. earnings. 1850..... $1,642,214 48 $79,148 856,890 $7,593 $143,631 859,594 894.037 $ nil. nil. 1851.. 2,826,171 91 81,005 80,321 12,121 173,447 70,219 103,223 1852.. 4,735,258 122 80,174 94,785 9,110 184,069 96,234 87,835 1833..... 5,763,752 149 101,048 137,210 16,484 254,742 141,222 113,520 1854. 6,019,904 149 153.616 296,891 20,141 470,648 311,599 159,050 149,694 6 1855. 6,282,172 149 154,094 367,945 20,449 542,488 336,445 156,043 149.694 6 1836.....

6,368,576 149 151,805 393,072 20,291 563, 168 461,312 103,856 149,694 6 1857. 6,594,828 149 154,275 402,798 19,108 576,481 500,340 76,141 149,694 6 1858. 7,083,045 149 146,870 380,154 18,767 545,791 395,557 150,224 149,694 6 1859..... 7,217,357 149 131,614 412,216 18,468 562,298 400,000 162,292 149,694 6

54,535,177 1,304 1,233,649 2,622,292 162,932 4,018,763 2,909,691 1,109,072 899, 164 Average. 5,453,517 13.0 123,364 262,228 16,283 401,876 290,969 110,907 89,816 3.6

BANGOR, OLDTOWN AND MILFORD RAILROAD.

(Financial year ending 30th June, 1859.)

Board of DirecTORS AND OFFICERS, 1859-60.
John W. Veazie...
Bangor, Me. P. B. Mills....

. Bangor, Me. William J. Lord

F. H. Dillingham.. SAMUEL VEAZIE, President...

Bangor, Me. John W. VEAZIE, Treasurer and Superintendent. Joseph Taney, Secretary and Chief Engineer.

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PRINCIPAL OFFICE..

.BANGOR, Penobscot Co., Me.

LENGTH OF ROAD-Bangor to Oldtown and Milford .....

..12.50 miles. No second track, except sidings and turnouts, about 2 miles.

ROLLING STOCK_Locomotive engines..

Cars:—Passenger, 3 ; merchandise, 45

4 .48

The Bangor, Oldtown and Milford Railroad Company was originally chartered by the Maine Legislature, on the 8th Feb., 1833, under the title of the Bangor and Piscataquis Canal and Railroad Company, and was anthorized to construct a railroad from Bangor to Oldtown, with other works. The construction of the road was commenced in 1835. It was opened for public use in November, 1836. In 1854–5 the line was carried across the Penobscot River, to Milford, a mile and a half, on which occasion the Company assumed its present title.

The cost of the works at the opening of the road in 1836 was $354,000. Proving unproductive, it was sold on the 1st Nov., 1848, to a new company for $60,000, Legislative authority having been obtained therefor in 1847. Á further sum of $75,000 was expended by the new company in relaying the track, and in 1854-5 an additional sum for extending the road to Milford.

This was the first railroad constructed within the State of Maine, and the only one until the completion of the Portland, Saco and Portsmouth in 1843.

SHARE CAPITAL-Authorized, $600,000.

Paid in, by original stockholders, $300,000 (sunk).
Puid in, by present stockholders, $135,000—total, $135,000.

FUNDED DEBT.

None. || FLOATING DEBT..

-$10,576.

Cost of Road and EQUIPMENT_$623,263, viz.: to present owners, $241,726,

and to original owners, $378,536, in detail as followsLand and land-damages... $59,531, Iron

$69,472 Graduation..

159,957 Stations, buildings, etc.. Bridging: 55,842 Rolling Stuck.

45,232 Masonry 35,844 | Engineering...,

15,559

INCOME Account FOR THE YEAR Ending 3011 JUNE, 1859. Receipts

ExpendituresPassenger traffic.

$!3,634 | Transportation expenses Merchandise

9,068 Receipts of road, etc... Lumber....

7,364 Wood, oil and waste. Miscellaneous..

764 Engine and cars... Balance

2,337 General expenses..

$5,513 4,051

1,138 14.992 7,473

Total..

$33,167

Total...

833,167

GENERAL LEDGER BALANCE SHEET OF THE NEW COMPANY.
Cr.
Stock ...

$135,000 | Paid original purchaser... Bills payable...

40,576 Paid relaying track Balance of earnings

69,150 Paid bridges and other expenses... Total...

$244,726 Total..

Dr. $60,000

75,000 109,726

$244,726

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