The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1866-06-08

that OF tho Treasurer OF the Company Eliphalet
Mott. Esq, was presented In printed form. and
among tho stockholders. Prom this
we extract the following particulars:
ASSETS.
Capital stock, 81 100000
invested In Railroad, $l,o6O.lsa 9.
Real Estate, 3N7 80
I" Ps z 4 Bridge , sa'SSS 90
Wharfa at Portland, l,SSs % .r
RECEIPTS. r-
From Passengers. c'ia,a'o, saasi1'ss
e EE, Sr;s.:.., 1918 s;sss1 e
" Extra Baggage, 3os 90
Mails, 1887 II
Miscellaneous, 39i5 o.
$4so.As1 2j
Expenditures, 2io7sS OF
Balance, S2o5i2s IS
Total apparent amount OF surplus earning, from
the opening Of the road, $22l.S7i 50. Invested rs
follows,
Improvement Account, $4,000
Materials for Road, GOOO
balances due Company, $4,000
Notes Receivable, 0WU
Cash on hand, l3,OOO
From the report VIC gather the following:-.
No accidents have occurred the past year, nor
have any of the employees been seriously injured.
About 900 new seepers and 800 tons of re rolled
iron rails with the improved JOINT, have been laid.
Nearly the same quantity Of both will be laid ear.
ly the present season. 50 that they may be tamped
aud Bodied before the fall rains come on.
Contracts have been made, aud the work will
soon commence, to put retaining wall OF mason-
~ ut the stone arches over MOusam river, Kenne-
bunk-a needed aud expensive job. but when
completed, 1t will ensure permanent structure
for all time.
As soon as arrangements with the city of Port
land can be made for the discontinuance Of the
crossing OF the avenue leading from that city to
Cape Elizabeth, preparations will be made for
buildings, etc. These quite necessary improve.
ments which involve large outlay, will give one
Of the most convenient stations for railroad pur-
poses In tho country.
The legal question in dispute between this road
and the Boston and Maine II. Il. Company remain
unad justed, and the dividends have been received
from them In currency under protest.
The report Of tho Directors was accepted and
ordered to be recorded.
Mr. Homer of Boston offered resolution, that
the dividend Of June 18th be paid in coin VI the
United States, and spoke In favor OF his motion,
saying that rs he had money enough In his hands
he ought to purchase the gold ut current rates for
the purposc.-Goy. Goodwin explained the state OF
the case; and said, that rs the Treasurer was the
trustee Of the essees, he could not pay out the
funds in the way proposed.
W. II. H,ckett, Esq, of Portsmouth, answered
the remarks of Mr.. Homer, saying that the Treas
urer would far transcend his authority II he did
as the vote directed him ~ do, should II pass.
Mr.. Cogswell Of Andover, said IL Il was right
that the dividend should DO paid in coin he was In
favor of doing 10.
George NJ. Browne, Esq, President Of the East
ern road. explained ON the part of his roa'l that
they did not 60 into the arrangement proposed by
the Boston 4 Maine, as In the first place they
were not invited to, and secondly his Directors
did not consider such vote as binding, the stock.
holders Of the B. & NJ Co. not having ordered 1t
to be done, and the Board Of Directors had not
the right to vote away the companys money in
that way. lie opposed the motion.
President Goodwin said that he hoped some
arrangement would be made to settle this legal
question; perhaps u was breach of the contract,
anl if so, amuch better c0ntract-One more fsv-
orable To the interests of the p. s &. p. Company
might now be made. He alluded to the building
Of the Portland & Rochester road, and thought
that the road could never succeed In running
line To GREAT Falls or any where else, rs against
A stock vote was then taken, which resulted
in the defeat of the motion by $50 shares for, to
1860 against Il.
Mr.. Homer then made q motion that the Treas.
urer retain Ia his possession money enough from
the receipts to pay the next December dividend In
coin. .,..u.
Alter little discussion, In which Il was stated
that this was but renewal OF the last motion In
substance but another form, this resolve was de-
feated by vote Of COS In favor to 1871 against H.
A resolve was unanimously adopted. requesting
the Directors to cause the next annual meeting to
be cslc,l In Portland.
The meeting then proceeded to ballot, by stock
VOTE for Directors with the following result. The
following named gentlemen had 1909 votes each,
and were elected:
Ichabod Goodwin, Portsmouth,; George NJ
Browne, Boston; Francis Cogswclls AndOver;
Nathaniel Hooper, Boston; Charles e. Brrett,
Portland; Geo. W. Burleigh, Great Falls; Stephen
ii. Billiard Boston.
The meeting then ad ournei
The now Board Of Directors subsequently or.
ganized by the choice OF the old Oilicers l. Good.
win. President; Charles T.. Brrett, Esq, Of Port
land, Clerk, aud Eliphalet Mott, Esq, Of Sico,
Treasurer.
The usual collation. was furnished at the well
known refreshment rooms ut the station. and the
celebrated "NOrth Berwick sponge cake" was
free to Nil the Stockholders. by invitation Of the
DirectOTS