The Portland daily press., 1868-05-04

the Notch before they get through their Hoo
sac tunnel and at less co: t.
The chairman then called upon Collector
Washburn, chairman of the committee OF cor
porators appointed to investigate the prospects
of the enterprise, for his report. Mr.. Wash
burn began by saying tEat the first suggestion
OF railroad throu III the White Mountain
Notch came from Vermont In the winter OF
1867, two gentlemen, one from st. Johns
bury. the other residing in New York but hav-
ing large interest in Vermont came to Port
land. They had been in conference with the
managers of the Vermont Central railroad,
and invited the attention of some OF the lead,
ing business men of Portland to proposed
route from Montpelier Uid st. Johnsbury
through the Notch to Portland, saying that the
Vermont Central Company stood ready to take
lease of the line as soon as it could be COM
pleted. A charter had already been obtained
in Vermont The road would bring Portland
30 or 40 miles nearer to Lake Ontario and the
West than Boston, and ON 30 TO 80 miles near,
er to various points in Northern Vermont and |
New Hampshire. These representations were
so satisfactory that it was thought best to apply
to the Maine Legislature, then in session, for |
charter which was granted The next summer |
similar. application was made to the New |
Hampshire Legislature, and after fierce ana |
protracted struggle with the opposing interests |
of Boston and the railroads centering in Bos-
ton, 1T was successful. An enabling act had al |
ready been passed by the Vermont Leglsla-
ture, authorizing towns along the line to sub.
scribe to the stock of the road In Maine and
Nev Hampshire general laws conferred the
same authority. In July. 1867, the whole ronte
was chartered and covered by enabling acts.
But at this point a new difficulty arose. Bos-
ton, unable to prevent the grant OF charter
in New Hampshire, now inter!ered to prove mt
the Vermont Central from fulfilling its pledges.
The road was then in the hands of three trus-
tees Two of them were removed and new
men appointed in their places, who declined to
cooperate with the new line. This compelled
change of programme but change alto
gether in favor of Portland Our Vermont
friends at once decided to build an Independent
line through the Lamoille valley, almost an air
line to Rouse's Point bringing Portland 20, IN
stead of 30 or 40 miles nearer Ogdensburg than
Boston, opening new region undeveoped by
railroads, which by building the read itself
comes under bonds to give it business and make
it pay. Encountering the same strenuous OPP
position they finally obtained from the Yer
mont Legislature charter and enabling act
for the Lamoille towns. Assurances of aid
were also obtained from the officers of the Og-
densburg and Lake Champlain, and Rome,
Watertown and Ogdensburg railroads, over
which the business of the proposed line must
pass from Rou es Point to Ogdensburg and
| Oswego. The managers of those roads gave
| pledges not only to make no discrimination
against the Portland road and to afford every
needed facility for the transaction of our bust
| ness, but to set aside for a term of years for
| our benefit 25 or 80 per cent. of the gross re-
| celpts from our business. This assistance which
1ney Cdu well duOru 10 renuer IN
| OF the permanent advantages to their business,
| VIII make good any possible loss arising from
| the sale of bonds at less than par, so that we
shall be able to build the road practically for
cash. 1t will therefore be paying road from
| the start. The average profit of railroads, after
| deducting the running expenses is about 30
| per cent. OF the gross receipts. AT this rate
| every railroad would pay well if it had been
economically blilt. Most of our railroads have
been built on credit at ruinous rates. The
| md lodi will ho h11i1f
for money. The feasibility of the route, has
! naturally been questioned, but il has been es-
tablished beyond the possibility of a reason
able doubt. After careful survey the excel
| lent engineer who was first sent through the
Notch reported that the route was entirely
| feasible, and that the heaviest grade to be en-
1 countered would be only 65 feet to the mile.
| There are heavier grades on the Grand Trunk,
on the Vermont Central, and on the Western
| railroad in Massachusetts On this shortest
line from the lakes to the sea the mountains are
| cleft asunder as if ON purpose to make a pas
sage for the iron road. From this gore the Saco
| flows east and the Ammonoosuc westward, and
| down the valleys of these streams slopes the
| paythway of the locomotive. Two accomplish
| ed engineers from our own State, Messrs. An
| derson and Noyes, reviewed the work of the
| first surveyor and verified his conclusions. The
| Vermont people too, anxious to be satisfied on
| so important point, sent two of their best
| engineers, Messrs. Bailey and Hale, to recon
| noitre the pass, and they too pronounce the
/ route entirely feasible, not for moment to be
| compared for difficulty with roads now in ope-
| ration in Pennsylvania, Virginia and Ohio,
About year ago party of gentlemen from
| this city passed through the Notch, and their
| doubts too were removed. There is surely no
lack OF evidence that the route is feasible. The
| cost is next to be considered. Offers have
already been received from responsible par
| ties which go far to settle this question. An
| engineer and builder, well acquainted with
the line offers to contract for the line in Maine
at $22,3O0 mile and in New Hampshire at
| 1874, 400, or for the whole line from Portland to
the Connecticut at $4,000 mile. He is now
building for $4,000 mile a road nearly as
difficult as this, and says freely that we can do
better than $4,000 for the whole route. Anoth-
er gentleman, a capitalist near Boston, offers
to take the contract at $31 900 mile and take
half his pay in bonds at par. We cac do bet
| ter. The sub contractors on the European and
| North American railway receive much less
| than $25O00, and this line with the exception
| of the mountain section is cheaper and east
| er line than theirs In return for this outlay,
| what have we to expect? Here we are half a
day nearer Liverpool and Glasgow than Bos-
ton, a day at least nearer than New York, with
an ample harbor and unlivallei tacl ties for
handling goods with line OF steamships as
good as the best which will become a weekly
line throughout the year whenever we furnish
business for it, 20 miles nearer to Ogdensburg
than Boston, at the terminus of the shortest
possible line of railway transit from the lakes
to the sea. The West, doubling its products
| every ten years, demands and will have the
Niagara Ship Canal, whereby its crops for a
third of the cost of railway transit will be
poured into Lake Ontario, brought to Ogdeps-
burg where the elevators are ready for them,
only $50 miles from Portland, and thence trans
ferred to cur Commercial street, where the
wharf railways give us an advantage which
alone is worth hundred miles in com tition
with Boston. The returning trains will be la
den with imports for Chicago, St. Louis and
| Milwaukee. 1t takes six days to get goods
through the custom house in New York. When
The new line now building from Oswego tn
Niagara Is completed, we shall have direct, in
dependent communication with the West by
rail, summer and winter, and Western mer-
chants will not be slow to avail themselves of
its advantages to secure their goods in hand
business in New York. A road through Min
nesota to Lake Superior will soon bring the
crops of that fertile State to the great chain of
lakes The local business alone of a third OF
Vermont and New Hampshire would justify
us in building the road. We penetrate an un
developed lumber region in New Hampshire.
If one halt is true that is said of the iron
mine at jackson, only two miles from our line,
the development of that mine alone would de-
mand the road. The pleasure travel on road
running through the White Mountains will be
| simply immense We must build the road not
simply to acquire this business but to save
what we have IN our own State, already threat
ened by the Great Falls and Conway lire.
|
returns is cheaper than any other line. Yer
mont will build no miles of it. From Port
land to Dalton on the Connecticut there are
only 100 miles left for US. From Portland to
| White River junction ON the Rutland road
| that is talked about the distance is 113 miles
| Governor Page advises us to try that route :
| but Governor Page is trustee of the Burling-
ton and Rutland railroad, and the Burlington
and Rutland railroad is owned in Bostont The
| President of the Passumpsic road and the
| President of the Concord and Montreal road
also came here to advise us to give up this
scheme OF cutting across their roads at points
80 miles nearer Portland than Boston. Are
these men, all of them doing business TOR and
| with Boston, managing roads owned in Bos-
| ton, are they safe and disinterested advisers
| for Portland? They at least, it Isl safe to saw
do not desire or expect to witness the compile
ton OF any such line as the Rutland line, and
If 1T is ever built it will be because We build So
| miles of it. To build our portion of the line
| we are compelled to ask a subscription by the
| city of two and one-half per cent. of her val
| uation to the stock of the company The road
| cannot be built without it. Private means are
not adequate to such work. The cities and
| towns of Vermont are subscribing four times
| as much as we ask or need here. Bang or.
Bath, Rockland and Belfast have all subscrib-
ed literally to the enterprises in which they
| are interested. Bangor, with population of
| II 900 and valuation of seven millions and
| hall, has liabilities for railroads amounting to
two million. and half Portland with twice
| her population and four times her valuation,
I viii nave II she takes this stock, an aggregate
LIABILITY for railroads $150000 less! Unless
| our iriends In Bangor are stark mad, we ought
not 10 neslGate moment when such an oppor-
1 hnr ,1a,@