FIFTH ANNUAL REPORT

OF THE

EASTERN RAIL-ROAD CORPORATION.

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts:

The Directors of the Eastern Rail-road Company, respectfully make their Fifth Annual Report.

At the time of our last annual report, the Rail-road had been constructed and opened for use from Boston to Ipswich,-a distance of about twenty-five miles. Since that time, the grading of the Road bed has been continued, and the superstructure laid over the remaining part of the line to the boundary of the State of New Hampshire, between the towns of Salisbury in Massachusetts and Seabrook in New Hampshire. In passing through the town of Newburyport, the road passes High street,-an important avenue-and several other streets, by a tunnel, so much beneath the surface of those streets, as to require no alteration in their grades, and by a viaduct over Merrimack street on the bank of the river, causing no interruption to the accustomed use of these streets.

The depot or station house, is located upon Washington street, about midway between the tunnel and the viaduct, where the Road bed is nearly on a level with the street which is crossed on its surfacethus forming a convenient stopping place, central, and easily accessible to the important business of that town and vicinity. The bridge across the Merrimack has been completed in accordance with the plan described in our last report to the Legislature.

It consists of a structure of truss or frame-work of wood, resting upon the piers of the former Newburyport bridge, of about one thousand feet in length, which frame supports two floors, one at the top for the passage of the Rail-road, and the other near the bottom of the frame, which will conveniently accommodate the common carriage and foot travel passing the river at that place.

The Rail-road is carried on to this bridge from the embankments on each side of the river over a structure of wooden piers, resting upon masonry on the low banks of the river,-this part of the structure being, in the whole, of more than one thousand feet in length. The main bridge is protected from the weather by a covering of tin upon the upper floor, and is found upon trial to be remarkably firm and well adapted for the purpose intended; convenient draws for the passage of vessels are provided in each of the floorings of the bridge, which are so constructed, as to be opened with great facility and expedition.

That part of the Road between Ipswich and Newburyport, was opened for travel to a point a little south of High street, in the latter place, on the nineteenth of June last. It was continued to the present depot, in Newburyport, on the twenty-eighth of August, and to the line of the State on the ninth of November, on which day the Eastern Rail-road, in New Hampshire, was opened for use to Portsmouth, since which time the two roads have been operated in connexion with each other, in pursuance of an agreement between the two companies hereafter described.

The books of the Treasurer have been examined by a committee of Directors, to the 31st ult., and the capital stock paid in by the stockholders, is Amount of loan of scrip from the Commonwealth,

The amount expended for the construction of the road, buildings, engines and cars, and other permanent works, since the date of our last report, has been

The amount of profits carried forward from the year 1839, is

Balance due for mail transportation,

From the accounts of the superintendent, which have also been examined, it appears that the income of the Road, during the past year, has been as follows:

Income from passengers, deducting

amounts paid for ferriages at East Boston,

$164,970 82

$1,364,190 12 500,000

656,925 61

13,862 50 1,975

$15,837 50

And that the current expenses arising from the business of the Road during the year have been, For repairs of Road,

7,909 39

66

repairs of engines and cars, and work done in machine shop,

12,915 83

For fuel, wages of men, salaries, and other expenses,

From the income of the Road, there has been paid
interest to the Commonwealth on loan,
To the Eastern Rail-road in New IIamp-
shire, pursuant to agreement,

64,968 31

$85,793 53

19,500

12,154

Since the date of our last report, an indenture has been executed, pursuant to an agreement between this company and the Eastern Rail-road in New Hampshire, (a copy of which indenture is hereunto annexed) by which the entire right to use said Road in New Hampshire, with locomotive engines, carriages, &c., is granted by lease to this company for the term of ninety-nine years. By this arrangement, the two roads forming one continuous line, are placed for practical use under one direction, and can be managed with much more economy, efficiency and safety, than if separately conducted, while by the agreement of the parties, the dividends of profits will be equal upon the stock of the two roads, in proportion to the respective capitals paid in. The amount paid in pursuance of this agreement, is already inserted in this report. The amount received in consequence of said agreement cannot be accurately stated, inasmuch as the Road in New Hampshire has been opened but a short time, and is run only as a continuation of our own Road.

All of which is respectfully submitted,

GEORGE PEABODY,
JOHN HOOPER,

WM. STURGIS,

DAVID A. NEAL,

ISAIAHI BREED,

DANIEL ADAMS 3d,

S. R. PUTNAM,

JNO. ELIOT THAYER,

AMOS BINNEY,

GEO. HOWE.

Boston, 22d January, 1841.

Boston, January 22d, 1841.

Suffolk ss.

Then John Hooper, William Sturgis, D. A. Neal, Isaiah Breed, Daniel Adams 3d, S. R. Putnam, John Eliot Thayer, Amos Binney, George Howe and George Peabody, appeared, and severally made oath, that the foregoing statement is true, according to the best of their knowledge.

Before me,

B. T. REED.
Justice of the Peace.

Copy of articles of agreement of two parts, made this eighteenth day of February, in the year of our Lord one thousand eight hundred and forty, by and between "the Eastern Rail-road in New Hampshire," a Corporation duly established by the authority of the State of New Hampshire of the first part, and "the Eastern Rail-road Company," a Corporation duly established by the authority of the Com-. monwealth of Massachusetts, of the second part.

Whereas the said "Eastern Rail-road in New Hampshire" was duly incorporated by an Act of the Legislature of said State of New Hampshire, approved on the eighteenth day of June A. D., eighteen hundred and thirty-six, with authority" to locate, construct and finally

complete a Rail-road, beginning at the line which divides the State of Massachusetts from the State of New Hampshire, at the town of Seabrook, thence running in a northerly direction to the line which divides the State of Maine from the State of New Hampshire at the town of Portsmouth, in such manner and form as they shall deem most expedient," with all the rights, powers and privileges therein expressed and contained; and whereas other and additional rights, powers and privileges were granted to said Corporation, in and by another Act of the said Legislature, approved on the second day of July, A. D., eighteen hundred and thirty-nine, as will more fully appear by reference to said respective Acts; and whereas the said Corporation, party hereto of the first part, has been duly organized and has accepted each of said Acts, and located its road; and whereas the second section of the last mentioned Act is in the following words, viz: "And be it further enacted, that the said Eastern Rail-road in New Hampshire be, and they hereby are, authorized and empowered to lease a part, or the entire right to use said Eastern Rail-road in New Hampshire by locomotives, cars, carriages, and engines to such person or Corporation, and upon such terms, as they may deem proper :" Now, therefore, the said parties hereto have agreed, and do hereby grant, covenant and agree, each to and with the other in manner and form following, that is to say:

First, The said Eastern Rail-road in New Hampshire, for the consideration hereinafter mentioned, doth hereby grant, demise and lease to the said Eastern Rail-road Company, party hereto of the second part, the said Rail-road in New Hampshire as now located, and as the same or any part or parts thereof may hereafter be located, and every part thereof, and all and singular branch roads, and other Rail-roads of said Eastern Rail-road in New IIampshire that may be connected therewith; and all singular side-tracks, turn-outs, turn-tables and other conveniences and things that may be laid, made or constructed in connexion with, or for the accommodation of said main road, or any such branch road or roads; and the entire right to use the same, by locomotive, cars, carriages, and engines and otherwise, to and through the whole extent to which the same have been, or hereafter may be located, built or constructed; also all real estate, depots, buildings and structures whatever that may be acquired or built for the use or accommodation of the same. And all rights, easements, privileges and appurtenances thereof; and the right and authority to make and complete the same, and to construct and finish any and all buildings and other accommodations in, upon and about the premises, which the said party