The Portland daily press., 1865-09-28


; In another column is an article upon this
subject, which viii be read with interest. Inc
writer is only just in saying that neither ~
Press nor our community is opposed or noS,.i1
to this enterprise Itihas no more coS'l,''
-,sshars anv,vhare than in this city. II lhe
Ts 9ao " Ia 9h,,;it I'll ia serious, sensible com
,ao,,,e~4 .r.l,o work shall be made, we shall
greatly rejoice thereat ~
"a 81 Single. sentence in 'eW. rs" arti-
c,c, we should stop here, but justice to our
FORMER statements, demands a. few words of
=, ll,ind criticism on his communication. He says
we havesfalIen into some errors of fact" and
- then proceeds tos show wherein, summing up
- the actual condition, as he understands - Oh
the road and its prospects.
- lie may be right in what he says OF the new
hil Brunswick portion ofthc line, but his showing
is very different from the facts stated by
frontier paper. and even the list of "resources"
toA Of the road. officially published, put down the
bnndseor- that portion ofthe road, necessary
to be sold, al S2,O00,0O0l l.A ii on
~ @ Tn summing up the substantial basis on
which II is proposed to commence this under
taking. "W. II puts down the timber grant Of
s the State at too hundred thousand dollars;
the official sresources' put it down at eight
nulurep uiOusSAu'H 49, f-flS it1iuOseDOOuiJ
very nearly correct, though the grant is con-
tingent one aY
no lo bus "W L" says nothing about the Bangor loan
of 100000, very wisely dropping this out of
the calculation irasmilch as it Is next to a
.t physical impossibility to complete the road to
Lincoln and r.ln the cars thereon, within the
~ time necessary to make this contingent loan
sasalGble. He is hereby reminded that the
ha;,, n
similar condition; that the road be completed
to Lincoln and the cars run thereon, in one
short gear from the time it is proposed to break
saA4 groundl Is the condition susceptible of being
complied with2 doubted -
k CIV II attaches Importance to the assigned
State claims against the General Government
because Of the justice of those claims, and
go the fact that committees of the Senate and
= House Of Representatives of Congress "have
made reports and both Houses have acted
thereon in such way as to recognize the prin1
ciple on which one portion of them rests"
Does the fact here stated show any securStst
s.s- for bonds issued on the strength of these al
legged claims ? The claims for French SpoIfa-
! S-A tons upon American commerce prior to the
~ year 1S00 'sW. II believes to be as just as any
claims ever preferred to congress- az Commit
e payment, but IN two instances bills have pass
ed both Houses for their payment. Who will
say those claims have not been more emphati-
sH9a ealy acknowledged than any claims referred to
by 'sW. H. and yet would any sane man con-
ao5s slider them legitimate basis for the issue Of
"a i bonds with which ia build rail-road should
sjaoe their assignment be secured by some new com
pany? No person can believe such bonds
ha tod Il;
five or eighty per cent, and yet the justice of
eng the claim is allesedto beleqpal to thatof those
.aI assigned by Maine and Massachusetts, to the
E.& n A. ReiIFoad, while the action ofcon-
grsss in their favor has been infinitely more
decisive.
-VD 9@W T." says the work on the Penobscot
and Lincoln road, secured to the E. & N. A.,
aa cost 100000. and has been put into the. Ge-r-
ls pany for 100000. Granted; but it has been
put in by the Directors or Trustees Of the
s'- road, who purchased the whole interest for
$4,000 worth Of the Company bondsi Who
-z,soi is to profit by the $164OOo9 Wonldn't it
~ q have been modest IN the four Directors
who made this purchase, to give the road
~. s whose interests they hold SO much at heart.
the benefit Of the trade, taking liberal conn
mission for doing the ,businesss 1t seems to
us they cut the thing rather deep.
,.s,r \, But we do not wish to say single word TO
.65id embarrass enterprise, the completion Of
y which, viii do so much for our State. We
- should be glad Ito see it taken hold of by earn
est men who mean all they say. We hope
bar sai those who now manipulating the concern
are Of this stamp We wish them success,
but we shall feel more confident WHEN THE
80 70 WORK IS BEGUN asaba.a .5s 70 iisiy ---