The Portland daily press., 1868-05-04

therefore will be 1857 900. to which S75500 may
be added for private subscriptions, making
100000 for 20 miles of road-a stock subscrip-
tiop of over 900 mile, which they hope to
raise to $1,000 or $4,000 before issuing bonds.
There are 80 towns on and near the line of the
road with an aggregate valuation of fourteen
millions-about half the valuation of Port
land. They intend to raise this money, as
much as Portland is asked for, and think they
see their advantage in it. The road has been
surveyed by Mr.. D. c. Lindsey. of Burling-
ton, who finds the heaviest grade to be 81 feet
and estimates the cost of construction at So
600 mile. The people of the Lamoille valley
are anxious to reach the Portland market, anu
would be glad to meet their Maine friends at
the Connecticut, but they are going to have
railroad at any rate. and if ttey can't get to
Portland they will turn to Boston. At pres
e1t their towns are at an average distance OF
10 miles from any railroad and pay over $780,
600 year for carriage. The cost of a road
would be saved in ten years if every dollar of
stock were lost.
A letter was read from Hon. D. r. Hastings,
OF sryeburg, apologizing for absence on ac-
count OF pressing business engagements, but
expressing the warmest interest in the under
taking and the belief that the towns along the
line could afford to give half their valuation to
the road and in ten years be better off for it.
Jonathan Ross, Esq, of st. Johnsbury, Yer
mont, was next called upon to explain the
status along the 35 miles of the line in Gale
people in that region had some time ago decid-
ed, like the little church that was too poor to
do without the stated preaching of the gospel
that they were too poor to get along without
better railroad accommodations. They had
charters to connect with the Grand Trunk,
with the Vermont Central at MONTPELIER, and
lastly with the Lamolle Valley road St.
Johnsbury had subscribed $225,0C0, half in
stock and half in bonds; and the other towns
along the line had made up the Subscription
TO S4S7 000 of which G07S C10 a
mile-was stock. All this was done, and the
books closed last fall, and now the enquiry is,
when are you going to break ground?' They
are ready to move tomorrow, if Portland
should say So
Fl. Fairbanks, ESQ.,, of St. Johnsbury, spoke
briefly, confirming the statement that 40 per
cent. of the entire cost of the road will be
raised in Vermont by subscriptions to the cap
ital stock of the companies.
Brief remarks were also made by Gen. S. J.
Anderson, Hon. c. j. Gilman of Brunswick,
C.P. Kimball, Esq, Gen. G. F. Shepley, Hon
Geo. W. Woodman, and 7. G. Hersey, Esq
The following resolution, reported by the COM
mittee of corporators was then offered and
adopted: @U4 FF
Resolped, That the development of this city re.
qulreS the construction of railroad at the earliest
practicable day. upon the most direct feasible lint
between Portland and Rouse's Point, securing The
shortest line of rairO trars sit that be ount
dnyachere between the lakes and the ocean: that th
line s in the direction of the White Mountain Motel
and the Lamoll'e and Mlssls1uoi valleys to Swanton
Vermont; and that it must be built; that its friend
| in Maine, New Hampshire and Vermont are callet
| upon to enter with vigor and in earnest upon tn
| great work and without delay.
| Resotced, That Committee of five citizens be ap
| pointed by this meeting 70 prepare and present t
the proper city authorities a petition, requestin
| them to submit to the legal voters OF this city th
question whether it will raise by tax or loan sum
money equal 10 two and one-half per centatm but i
no case exceeding S750,00O) of the valuation of III
city f1r 1863 to be Appropriated to aid in the
struct of the railroad OF the Portland and Og ems
burg Railroad Company by subscribing and payin
tor shaes in the capital stock OF said company to tn
| amount Aforesaid.
Messrs George F. Shepley, William L
Putnam, John B. Brown, Samuel E. Sprin
and st. John Smith were appointed com
mittee to attend to the duty named il
the last resolution, and after adopting Gen
Shepley's humorous resolution ito get to tn
Connecticut river before the Vermonters," tn
| meeting at late hour broke up. The prevail
ing interest in the matter in hand was evince
throughout the prolonged session, by the ex
traordinary attention bestowed upon the speak
ers and by the frequent bursts of applaus
which inyoluntarily marked the appreciation
of every new point in favor of the undertaking