BRIDGTON & SACO.
A Successful Year for Our Little Railroad.
The Annual Meeting of the Bridgton & Saco River Railroad Co. was held at the Bridgton depot Wednesday, President Wm. F. Perry in the chair. Some 1588 shares were voted, several being represented by proxies. The following Board of Directors were chosen:
Wm. F. Perry.
A. H. Burnham.
Samuel S. Fuller.
Wm. A. Stevens.
J. A. Bennett.
W. M. Staples.
David Chaplin also received 722 votes.
The Board of Directors also organized and chose the same officers to serve for the ensuing year:
Wm. F. Perry, President.
Perley P. Burnham, Treasurer.
Joseph A. Bennett, Secretary.
The reports for the year, a brief summary of which has been given were most encouraging. President Perry submitted the following report of the Financial Operations of the Road for twelve months ending June 30, 1893:
Earnings from Freight Traffic, $15,832.50
” ” Passenger ” $11,828.13
” ” Express, $3,181.95
” ” U. S. Mail, $807.32
” ” Excess Baggage, $160.78
” ” Miscellaneous Sources, $387.00
Total Earnings, $32,197.68
Less Operating Expenses, $18,464.80
Net Earnings, $13,732.88
From which has been paid,
One years’ interest on First Mortgage Bonds, $4,800.00
One years’ interest on Second Mortgage Bonds, $1,590.00
Interest on Floating Debt, $328.41
Total Expenses, $6,834.82
Surplus for the year, $6898.06
The earnings for the year ending June 30th increased $5,058.07 over preceding year, while the expense of operating has been reduced $1,362.47 making the net earnings $6,898.06 more.
The new station at Bridgton Junction was built by the Maine Central and B. & S. R. R. conjointly, our proportion being $1,084.95. The accrued interest account has been reduced $6,348 and all interest charges due have been paid.
The rolling stock has been increased by the addition of 7 flat cars, 2 box cars and a locomotive at an expense of $7,000 all of which was paid from the earnings, and the floating debt incurred on account of the new station etc has been reduced $450. Over 3000 pine cross ties and about 300 hemlock have been put into the track.
During the year 16,097 passengers have been carried and 14,140 tons of freight at an average of $1.11 1/4 per ton.
Some 34 hands were employeed.
The repairs of roadway, bridges, fences and buildings, and renewal of ties have cost $5656.63; repairs on locomotive, passenger and freight cars, $2093.82; the total maintenance of equipment cost $9492.54. Of this amount $7015.05 were wages. The locomotives eat up $1500 worth of coal. Loss and damage was but 18.27 and the small sum of $15 was expended for injury to person. This makes a grand total of operating expenses of $18,464.80. The Treasurer submits the following interesting report:
Cost of Road $170,932.95
Cost of Equipments $33,592.00
Materials and Supplies $346.12
Net Traffic Balances due from other Companies $276.88
Due from Solvent Companies and Individuals $180.74
Capital Stock $89,554.00
First Mortgage Bonds $80,000.00
Second Mortgage Bonds $26,500.00
Bills Payable $3,700.00
Audited Vouchers and Accounts $579.81
Net Traffic Balances due other Companies $1,088.40
Accrued Interest Acct. $2,091.95
Profit and Loss $4,917.61
P. P. Burnham, Treasurer.
Originally published by the Bridgton News, November 17, 1893.