SOMERSET AND KENNEBEC RAILROAD. (Financial year ending 31st March, 1859.) BOARD OF DIRECTORS AND OFFICERS, 1859-60. No second track. Sidings and turnouts about 2 miles. ROLLING STOCK-Locomotive engines... Cars-Freight... .37 miles. 2 8 The Somerset and Kennebec Railroad Campany was chartered on the 10th August, 1848. The work of construction was commenced in 1853, and the road was opened in 1855, to Kendall's Mills, 21 miles, and in Dec,, 1857, to Skowhegan, 16 miles. Since its opening it has been furnished with rolling stock, and operated by the Kennebec and Portland Company under temporary contracts. SHARE CAPITAL-Authorized, $700,000, in 7,000 $100 shares. Paid in, $168,200. FUNDED DEBT $550,000 classified as follows-1st Mortgage, 6 per cent. coupon bonds. -$300,000 -dated 15th June, 1854, and payable in 20 years. Coupons semi-annually, 15th June and Dec., at the Company's office, Augusta. 2d Mortgage, 6 per cent. coupon bonds $250,000 -dated 15th June, 1856, and payable in 20 years. Coupons semi-annually, 15th June and Dec., at Augusta. The 2d Mortgage provided for an issue of $350,000. No interest has been paid on either class of bonds for the last two years. Of the 1st Mortgage Bonds $102,000 are pledged for $70,000; and of the 2d Mortgage $12,000 for $6,000. The bonds sold realized $355,700. FLOATING DEBT-$51,926, bills payable, etc. There are also coupons to the amount of $66,000 over-due. COST OF ROAD AND EQUIPMENT $783,763: in detail as follows- INCOME ACCOUNT FOR THE YEAR ENDING 31ST MARCH, 1859. The surplus income was disposed of as follows: improvements on buildings, etc., $1,500; covering and finishing Skowhegan bridge, $1,342; landdamages, $225; coupons due June, 1856, $600; mail service uncollected, $592; iron liability, $22,973, and wood now on hand, $1,180. Cr. Floating debt. GENERAL LEDGER BALANCE SHEET, 1ST APRIL, 1859. R. I. Robison. YORK AND CUMBERLAND RAILROAD. BOARD OF DIRECTORS AND OFFICERS, 1859-60. Portland, Me. .Limington, “ Portland, " J. P. RICH, Superintendent... PRINCIPAL OFFICE.... PORTLAND, Cumberland Co., Me. LENGTH OF ROAD-From Portland, Me., to Great Falls, New Hampshire...52 miles. Completed and in operation, from Portland to the Saco River.. 18 miles. ROLLING STOCK-Locomotive engines.. Cars of all descriptions... 3 20 The York and Cumberland Railroad Company was chartered in 1846. The construction of its road was commenced in 1849, and completed to Gorham, 10 miles, on the 8th of Feb., 1851, and to the Saco River, 15th of Feb., 1853. A portion of the road, between Saco River and the town of Alfred, and also a portion of it near Great Falls, have been graded, though the work of construction is now suspended. 13 months' operations, from Feb., 1855, to 11th April, 1856. † 16 months' operations, from 11th April, 1856, to 1st Sept., 1857. 8 months' operations, Sept. to 30th April, 1858, including $4,636 earnings for Sept. and Oct., 1857. § Full years operations. CAPITAL STOCK-Authorized, $1,500,000. FUNDED DEBT $438,000, as follows 1st Mortgage, 6 per cent. coupon bonds __ _ _ -$10,000 -issued 6th Feb., 1851, and payable in 20 years; interest semi-annually, in Portland. The interest on these bonds has not been paid for several years. 2d Mortgage, 6 per cent. coupon bonds -$398,000 --dated 1st Jan., 1856, and payable in 20 years; interest semi-anually, 1st Jan. and 1st July, in Portland. Only one coupon, due 1st July, 1856, has been paid. This class of bonds was issued for the following purposes: The road up to 1st Jan., 1856, had cost $1,090,000, as follows- The judgments took priority of the second mortgage, and the road was sold under them, on the 30th of April, 1856, for $80,000. A compromise was, however, agreed upon between all the creditors upon the following terms: A new mortgage was created on all the property of the Company to secure bonds to the amount of $950,000, into which the several classes of creditors were to convert their claims as follows: Land claims at par $20,000 | 2d Mort. Bds., $410,000, at 30 per cent.$123,000 40,000 Floating Debt Judgments against the Company...... 200,000 15,000 $398,000 This amount represented, under the settlement, the cost of the 18 miles of road constructed; the stockholders surrendering their stock in consideration. of being released from liability thereon. Most of the parties interested, except, perhaps, the 1st Mortgage Bondholders, have assented to this agreement, and their former claims extinguished thereby. The balance of the bonds, $552,000, was to be used in the completion of the road to Great Falls, for which a contract was executed at the same time, the contractors to receive $1,006,000, one-half in 2d Mortgage Bonds, and one-half in new stock. Under this contract some work has been done between the Saco River and the town of Alfred. The company publish no reports; and no income account, or general balance sheet, can be given. The cost, earnings, etc., of the road since its opening for business, have, with the exception of the past year which is estimated, been as follows: COST OF ROAD, EARNINGS, EXPENSES, ETC., YEARLY. LAWS OF THE STATE IN REFERENCE TO RAILROADS. List of all the Railroad Companies chartered in the State of Maine, with the dates of the Acts of their incorporation; and also the dates and abstracts of all laws passed by the Legislature in reference thereto. The asterisk [*] prefixed signifies that the work of construction has not been commenced. Corporate Titles. ANDROSCOGGIN. ANDROSCOGGIN & KENNEBEC *ATLANTIC JUNCTION ATLANTIC & ST. LAWRENCE.. 66 Aug. 10, 1848 Act of incorporation. Feb. 16, 1853 May increase share capital. Apr. 1, 1856 May consolidate with other companies. June 21, 1848 May increase capital. Apr. 1, 1856 May consolidate with other companies. Apr. 12, 1854 Amends act of incorporation. Feb. 10, 1845 Act of incorporation. June 17, 1846 Act additional to act of incorporation. July 27, 1850 Portland may grant further aid to company. Apr. 10, 1854 Act of incorporation. Mch. 27, 1858 Act of incorporation. Apr. 4, 1859 Act in aid of company Apr. 4, 1859 Bangor may aid company. Apr. 4, 1859 Authorizes publication of act for aid AROOSTOOK & ST. ANDREW'S BRANCH Mch. 15, 1859 Act of incorporation. Mch. 8, 1832 Act of incorporation. Meh. 15, 1836 May construct branch across Penobscot River. Aug. 2, 1847 Act of incorporation. Aug. 21, 1850 Name changed to Penobscot, and authorized to construct road to Oldtown. Mar. 14, 1855 Authorized to change location of road. Feb. 8, 1833 Act of incorporation. Meh. 16, 1846 May extend road to Milford. Mch. 24, 1845 Exempts Co. from operation of sec. 6 of act re lating to railroad, passed March 7, 1842. July 31, 1847 May extend road to Milford and Bradley. Mch. 14, 1855 Name changed to Bangor, Oldtown & Milford. Meh. 29, 1837 Act of incorporation. Mch. 13, 1857 Act of incorporation. Feb. 28, 1844 Act of incorporation Feb. 28, 1845 Alters act of incorporation. Mch. 9, 1836 Act of incorporation Feb. 25, 1839 Extends time for completion of road, etc. Meh. 5, 1845 Extends time for completion of road, etc. June 28, 1850 Act of incorporation. Meh. 31, 1853 Act of incorporation. CALAIS & BARING MAINE-RAILROAD LAWS. Date. Abstract of Laws. Sep. 27, 1853 Time extended for locating road. Mch. 24, 1835 Act of incorporation. July 22, 1847 Act of incorporation. Aug. 7, 1849 May increase capital. Aug. 29, 1850 Number of directors limited. Meh. 27, 1852 Time for redemption of land extended. Feb 17, 1832 Act of incorporation. Mch. 10, 1835 Extends time for completion. Mch. 25, 1857 May extend road to Milltown. Feb. 22, 1838 Extends time for completion, etc. July 26, 1849 Changes name to "Calais and Baring." Feb. 25, 1839 Extends time for completing road. Aug. 13, 1852 Supplement to act of incorporation. Mch. 8, 1855 May unite with Lewy's Island Railroad Co. *CAPE ELIZABETH WHARF & MARINE. Aug. 16, 1850 Act of incorporation. *COBBOOSSEE. *DAMARISCOTTA·· EUROPEAN & NORTH AMERICAN.. 66 66 66 แ *FRANKLIN & KENNEBEC.. 46 66 Aug. 20, 1850 Authorizes survey. Aug. 27, 1850 Authorizes increase of share capital. Meh. 27, 1852 Resolution inviting aid from United States July 22, 1848 Amends act of incorporation. *FRANKFORT, BANGOR & BELFAST. Mch. 22, 1836 Act of incorporation. Mch. 12, 1839 Extends time for completion of road. June 8, 1848 Revives act of incorporation, etc. June 15, 1848 May unite with Great Falls and Conway RR Apr. 1, 1836 Act of incorporation, HALLOWELL GRANITE. *HANCOCK & PENOBSCOT. *KENNEBUNKPORT GRANITE. KENNEBEC & PORTLAND. Meh. 1, 1856 Act of incorporation. Mch. 30, 1857 Act of incorporation. Meh. 6, 1836 Act of incorporation. Meh. 23, 1838 Amends act of incorporation. Apr. 1, 1836 Act of incorporation. Apr. 9, 1841 Extends time to locate and construct. Meh. 31, 1845 Act additional to act of incorporation. July 16, 1846 May construct a branch to Bath. June 7, 1848 May increase capital. Aug. 30, 1850 Certain cities and towns may grant aid. June 3, 1851 Relating to directors. Mch. 30, 1853 Comm'ers authorized to invest sinking fund. Apr. 15, 1854 Act of incorporation. Mch. 16, 1855 Authorizes extension of road. Meh. 16, 1855 Wiscasset may aid the company. Meh. 29, 1836 Act of incorporation. Meh. 16, 1855 Act of incorporation. Mch. 12, 1856 Supplement to act of incorporation. Mch. 16, 1855 Act of incorporation. Apr. 14, 1854 Calais may aid in constructing. Jan. 24, 1855 May change location. Jan. 29, 1855 Relative to aid by Calais. Feb. 14, 1855 Explanatory of act of April 14, 1854. Meh. 8, 1855 Authorized to unite with Calais & Baring Co. |