The Portland daily press., 1866-04-19
rs;,rn .nie TOTAL amount required to complete the
W;s 10 Rochester, say S450,OO0

l ~hSotCiy otty O1OU,UUU.
win the property thus mortqaged. the com
tIS mouiu not be in situation to under
.a III auuition to the railroad of twenty
uno n9. Is 70 Candia, as the people of N. L. .
naso hsu .hei- experience in subscriptions to
ralroau stocks subject to MORTGAGES. as well
as tne people OF Maine The consequence
would be that foreign conlpanv tbat co,,lJ
build the railroad undera stock subscr;ntion
must occupy the ground between Rochester
and Manchester, and its situation would ena
| bic it to command undue emolument if IL did
not defeat important objects in the enter
prise. ulst.l 1ai o.. l9lFsi ,ae.-,,a dT-I
The Directors are assured, that with the
road completed to Rochester, unembarrassed
by mortgage, the parties interested beyond
Rochester, will take all the stock required to
finish the road to its termination, which will
be inclusive of freight cars for grain and 9th
er products from the lakes, and an elevator at
Portland ~ i.4- . tJfi" eey-ishd tila
To show that confidence may be reposed in
the ABOVE assurance, it is only necessary to
nentlon the places and parties Immediately
Interested IN the proposed extension to Man
enester. These are Chicago, Detroit Ogdens-
DurS anu the Transportation Company upon
Ila sle iaAes, the OSdensburg, Vermont Central,
Northern New Hampshire, Concord. Man
chester and Lawrence, Worcester and Nash
ua, and Norwich and Worcester Railroad
Companies, and the Steamboat lines between
New London and New York.
Should success attend the efforts Of the Di-
rectors in behalf of the Portland and lRoebes-
ter Railroad, all the modern improvements
will be introduced in its construction and
equipment.
With the exception of about one mile tbe
whole country between Portland and Roches-
ter is remarkably level, SO that road may be
laid out straight with easy grades and capable
OF running with the greatest rapidity with
light expense; and for the comfort of the pas
sengers, rails OF additional length will be in
troduced and laid with lap to avoid the jar
ana fatigue incident to short rails and square
lo Full confidence is entertained that the stock
Will De profitable investment, as in addition
70 other legitimate business, the road will en-
JOY the good will of the Kennebec and Maine
Central Railroad Companies, o' hi'-i' ''1
That another railroad westward is required
for the accommodation of the increased and
increasing business, the net earnings of the
Portland, Saco and Portsmouth RailLoad the
last two years give confirmation, being report
ed as sixteen per cent. annually, upon its cap
ital. i h.'s.5 .t.tefy,.is -. t.IlIP
The city of Portland deemed it of SO much
Importance to regulate the cost of light to its
citizens, as to take a controlling interest in
the stock of the Gas Company, but of how
much more consequence that she should hold
an interest In the stock of a company, whose
object is the procuration of cheap bread for
her citizens, and through her, for the people
The Hon Jos;ab O,,;ncv Of T,os+o,, an,oo,,-
al haf,re q ~ tSa Cr;si,
Wassacbysetts tha ,,1',,+ p ai.,aoot
that State,s 40 bin tl,o Vosto,, .,,d poS,o,,
and Worcester Railroads agreeablyl o,the
terms of their respective charters, giving a
costs tn tbase co,nnanies' and wbe,;' he eare tbe
eomIn;ttaa eynroS5sJ tho' oI;,;oI Of ,n,,,y Of
tha ctiyens tbat r. Rostan could nnrcioSa
thf61so ra o+ tbo oJuanco ond aca,.rT,
fre;gbt ii rassay,oers IN, ao,,oh ~ coye, ov
anu . ,or ~ ,',i ~
donbIoJ ,,r;,h;,, ito I;no;ts
Tbe oenerai ;dea avnrassed bv Mr. o,;ncy
;s that Railroads arc mannaged Nv the directors
WITH tho sola y;ayv ~ VI a an, o,,St of;JjSerds
dow, tha IaoSt h,,s;,,oss ,oons;start Vel ~
atsst ,.ot;ts Yvia.soS Il ;S 70 the ;ntarost Of
~ rseo,a 49, az Iarost :. so,,J ka
a. = SI;H Ii,;,, nrof;t 'l5'sT
PTSn 1ssS..., -, iS1Ipnoost. ,.,a rv.s,ou,,
u.;,na,J,e %n., a. go reSo;o $50,
road0 ~ past, o r1,;oh to P"rtian5 o,,d Bo
chester chest ~ Ra;Iroad has to Portland and Mr.
0n;nc1,s ra,norks rrasent the rvi3ence IN a
uo;,,io t,pt ~ c;t,r sho,,Id ho ro,1ro
son.ad 4; t0st;t,,.;oa, So ,s;o y so
10 her welfare as the Portland and Poehester
RAILROAD Comnanv and which can onIv he
erected tlrrouah the ownership of stock and
| NOT of bonds, The city of Portland held a
| LARGE interest in fine bonds of the Atlantic and
Ct Iawrence Railroad 90. and neyertheless
tha comnanv delivered ffor- at Roston from
the LAKES at ten cents ner barrel less IN Roston
| altbo,,ob one hundred and ten miles create;
distance, than to Portland. and fraichts from
Boston to the lakes have been at proportion
able rates. COMPARED with those from this
c;t.,, '''-' - r - - -Yo - -
l. Had the city's interest been represented in
| stock instead of bonds. how long would such
arrancements have been allowed to continue
without redress a. q -i91T il5i.hi iI
| Il The citv of Portland exhibited great liberal
| itv towards the construction of the Atlantic
| and ST. lawrence railroad. and i'm addition to
| tbe suhsc,;ntions of tho citizens of about 81 :
OOO OO0 advanced her credit bv the loan Of
bonds for 50. .OOOOOO, and nc secf1ritv received
| Of the Company tbe first MORTGAGE rnon the
railroad and franchise for three fourtbs. and
| tbe sec,,rit,, for tbe remaininr nortion' was
| included in the second nortgage. The advance
| made RI the Atlantic a. ST. Lawrence r.. r
Co. by the city. at that period. exceeded tasen-
tn oec cent of he paluatioa of its so6oJe real
and personal estate. sd ...r. l....-......
| AT the present time, the Portland Il Roches-
ter r. r. Co. asks a subscription to its stock OF
the city, OF about one per cent. OF the c1tyS
/ valuation, for the security OF which the city
will have not only an equal amount in the
stock of the Company, without a mort
gage upon 1t but an accession, OF upwards
of thirty towns as customers,--a closer and
| cheaper connection with New York "a ne
ana co,ni!unc.clon y, ~. openee VIII tle greaS
them of I,nwards of four tbonsand miles
1