The problem lies not with FTN95 which fully supports that old convention, but with Microsoft and modern Windows incarnations, which do not.
If you are able to use the form of the OPEN statement that connects you to LPT:, LPT1 or PRN: you will find the old carriage control characters still work. I had to abandon this when I started to use laptops that did not offer a parallel printer port. From Windows 2000 onwards, (and we are XP, Vista, 7 and now 8 beyond that), Windows buffered LPT: output into 512 byte blocks, which would even give you a problem getting the last page of output printed without running into the next job, as the last block would need to be filled and flushed.
You don't need <BLANK> because each write statement gives you a new line anyway. An additional blank line can be obtained with </> (diamond brackets <> used for emphasis). As far as <1> for new page is concerned, you may find it sufficient to send the ASCII for 'new page' i.e. FormFeed, by writing CHAR(12) into an A1 format. FF for formfeed is NOT the same as hexadecimal FF or ff.
Assuming that your original Fortran 77 program is as badly written as most Fortran (and I include most - if not all - of my own efforts over the last 4 decades in this, so this is not snobbery), then you won't want to play with the original FORMAT statements. In that case, 20 pages is not a large file, and you could write it to file completely as originally formatted, REWIND, then read it line by line interpreting that first character before printing. You could do this with something like A1, A80 (if it was formatted for an 80 column printer). If you couldn't manage the new page issue, you could always count lines and make up the page formatting by inserting the requisite number of blanks, but that will count as bad programming when someone else has to maintain the code.
If you want columns to line up vertically, you need to select a monospaced font on the printer.
Asking for Fortran carriage control is like bemoaning the fact that your 2012 Jaguar XF does not have a starting handle, which you were very used to using on your 1948 manufactured car! (and where are the trafficators?)
Eddie