The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1868-06-01
T HI, PR ESS.
Monday Morning, June 1, 1868.
Rhe Town-Meeting Wednesday.

1'he Town-Meetins Wednesday.
On the 3Oth of April, 1867, the voters OF Port
land answered the following question:
Shall the city of Portland loan its credit in
the sum of seven hundred thousand dollars,
or if said sum exceed two and halt per cent
of the valuation of Portland for the present
year, then the sum which that percentage on
said valuation will produce, to aid in the con-
struction of the road of the Portland and
Rochester Railroad Company, and to that END
issue its bonds to an amount not exeeeuinS
said sum, under such regulations as the BOARD
of Mayor and Aldermen of the city OF Port
land may deem expedent, Prootdeo' tiiat pohus
shall not be issued to an amount eAceeu.ng TWO
hundred and fifty thousaLd dollats uhIll sat
isfactory evidence shall be produced to the
said board that connection with some rail
road or railroads in the State of New Hamp-
shire leading to the West will be made.
This question was decided in the affirmative
by 1878 yeas to 495 nays. The sum of $3.50, coo
has since been raised upon the credit of the
city and applied to the construction OF the
road. The Saco river has been bridSed at a
cost of about $4,000, the road bed completed
to within half mile of Alfred, iron and sleep
ers purchased for the whole distance, and the
work of laying the track is going rapidly for
ward. To complete the road bed to Alfred,
pay some $4,000 still due for iron, settle up
all other outstanding bills and supply the in
creased equipment which will be demanded
when this important point is reached, the d.
rectors now apply for 100000 more. They
have been before the mayor and aldermen
with evidence which they regard as satstacto-
ry, that a Western connection will be made
as required by the proviso above. The evil
dence, though amounting to moral certainty
is not legally conclusive, and the board has
declined to take the responsibility of issuing the
bonds without further authority from their
fellow citizens. The ques ton for Wednesday
is therefore, will the citizens of Portland au-
thorize the issue of bonds for the sum required
to complete the road to Alfred without in
sisting unduly upon the condition which will
still apply to the rest of the line?
We do not understand that there is any Sc
rious opposition to a compliance with this re-
quest. The reasons for granting it are obvious
and conclusive.
l. The directors were justified in attempt
ing to open and equip this section of their
line on the vote of last year. They have pro-
ceeded in good faith, believing that they had a
satisfactory prospect of making Western
connection through the State of New Hamp-
shire. 1t is due to them therefore that they
should not be left halfa mile this side of Al
fred, embarrassed by liabilities incurred in the
confident expectation of further aid.
2. The prompt extension of the Portland and
Rochester road to Alfred, will double its bust
ness and bring the richest and at present most
isolated portion of York county close to our
doors. 1t is therefore demanded by prudent
regard for the prosperity of the city,
8. There is absolutely no risk to run. If
the additional loan is granted, it will amount
in all to only $350,OO0. For this sum the city
will have first mortgage on 80 miles of road
in good condition, with the rolling stock, de
pots, franchise, &c. The property thus pledg
ed is worth at least a million, and could be
sold under the hammer for much more than
the claim of the CITY,
1t is calculated to inspire confidence both
in the management of the road and in the
professional skill of Mr.. j. f. Anderson, to re-
member that year ago he estimated the cost
of the track, including superst;ucture, from
the Saco to Rochester at not over $780,
900. Alfred is~the halfway point, and the
directors ask to complete and equip their line
to that point only half the aid proffered them
last spring.