The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1866-02-12
Portland and Rochoster RAILROAD.

upon John K. Sidney. Fined S. and COSTS
Committed. .ts..-... ....
Portland and Rochester Railroad.
An informal meeting OF the City Council
was held at the Council Chamber, Saturday
afternoon, for the purpose of hearing some
statements respecting the Portland & Roches-
ter Railroads. bill to amend the charter of
the company, by allowing them to change
the base of location of said road, being about
to be presented to the Legislature. NON
Mayor Mcclellan presided. The following
section in the bill was read for the information
of the meeting: 2ls ,-''s's.Iy .-9tIaeL
SEC. 3.-Whenever the amount of S15OOOO,
additional to the present stock of said road,
shall have been subscribed in good faith by
responsible parties, the City of Portland in its
corporate capacity, shall be authorized to sub
scribe a SUM not exceeding 100000 to said
stock; provided two-thirds of the voters pres
-nt, voting at said meeting, legally called for
the purpose, shall by ballot vote SO to do.
Col. G.Q. Clapp, one of the Directors of the
Corporation, made some statements, in which
he urged the necessity of a road which would
be disconnected from Boston influence, and
on which trains would be run for the accom-
mediation Of the business interests and the
citizens of Portland. uJ..t.
Col. Clapp contended that our State was
heavily taxed to support the railroad and
banking interests of Boston. He spoke #
the exports from the two States, and remark
ed that Massachusetts had nothing to export
but Quincy granite and Berkshire sand. To her
manufactures was she indebted for her pros
perity; but those manufactures were operated
by females principally from Maine. ,.tf
The trade of Portland and Maine with Bos-
ton had been decreasing year by year, and had
been going to New York, so that now our pur-
chases in Boston were but small. Our mer-
chants can go to New York and purchase on
as good terms, and at as low rates, as the Bos-
have been paid to the latter. La 7.. .r....
After stating the design of the road, its
route, and the business 10 would bring to the
city, Col. G. said that the road would be built
TO Alfred the ensuing season, and would be
paid for without the issue of bonds. The sum
of 100000 would then extend the road to
Rochester, 1t was the Determination OF the
company not TO issue bonds, but to build the
road just as fast as the stock was taken up
Of the eight roads in Maine, six were built by
bonds, and those six roads were now in the
hands of the bond holders. The other two.
which were built by stockholders, were now
retained by stockholders.
: Col Clapp spoke for more than an hour, and
in closing remarked that his object was to ex-
plain the matter so that there should be TO
objection made by the city to the bill before
the Legislature. "a WRJIuu
III. P. Deane, Esq, followed Col. Clapp, and
in few remarks explained why the amend
ment to theireharter was asked. He said the
section of the bill under consideration was in
PRODUCED at the request of some of the stock
holders. If the city did not oppose it, it would
be passed, aid it would give strength to the
credit Of the corporation. Contracts had been
made for building the bridge across Saco river,
and nine miles Of the road ON the other side
of the river has been graded and was about
ready for the rails. aTmgF sa4gE
Col. Clapp remarked that with the $15OOOO
stock subscribed, and 100000 by the city, the
bonds of the old corporation which had been
worth but ten per cent. would be brought up
to par.d IeW0G3 brs Bios .lrnW
After these explanations and remarks. the
Mayor called the Convention to order and said
it was for the members to decide whether the
two Boards should separate and take action
upon the subject. 49,. 81, & ..I,..,i .a4.f
Councilman Bailey proposed an adjournment
until evening when each Board could act in
the matter. K dV6d8fG .8ITAG
Alderman Southland could see no necessity
for adjourning. 1t was not regular or spe-
cial meeting. he was in favor of not appear
ing before the. Legislature to oppose the Sec
ton, though he was opposed to the citys sub
scribing for stock. But as this matter wou,d
have to come before the people for their sane
ton, he would move that the Mayor lnotiiy
the Chairman Of the Legislative Railroad
Committee that the city will not appear before
them to oppose the section. ....f
This motion was carried without dissent
ing vote and the Convention adjourned.
From the conversation of the members of
the City Council, after the adjournment, it
was very evident that large majority of them
were opposed to any subscription of stock by
the city, though they were willing that the
section giving the city the power to subscribe
should be Incorporated into the charter of the
company. --'''''