The Portland daily press., 1869-06-08


hour. Gov. Goodwin remarked that state
.ment had been prepared of the amount claimed
to be due from the two roads to the P. s. 81 p,
which amounts to $194, 65s66 in gold, or about
$S23,6O0 in currency. He also paid high |
compliment to Presidents Browne and Coggs- |
well of the B. & M. and Eastern Roads, saying |
that he had always found them prepared to do |
what was right He also begged that he might |
not be reelected Director, as he had served |
for twenty years. and was getting old. He |
hoped the "gold question would be settled
without litigation. Remarks were made by
Hon. c. L. Woodbury., Judge Perley, Pres
ident Browne of the Boston & Maine, Hon.
Samuel Hooper, DR.. Kttredge and others.
Mr.. PIT. Homer offered the following reso-
luton:
Voted That the Directors be instructed to propose
q settlement with the Boston q Maine and Eastern
Railroads, by compromising the past DIVIDENDS IRE,
celved under protest. by receiving an additional
Der cent per annum on the same, being equivalent
to q emi-annual dividend OF per cent.
Is The following amendment was offered BY
Mr.. s. 81. Bullard: .e5iesa iaissl, e,
. Resolved That the Directors of the p S. 81 ?. B.
R.be, and are hereby instructed to take sucn ac-
ton legal OF otherwise as they may deem Necessary
g demand and enforce from the b q ~ ana AZ y n
tract, past, present and future. -. :. ai,is &
pn The resolution as amended was passed with
only one dissenting vote.
q The following resolut ton was then offered:
Resolued That in the instructions givensto the d.
rectors the stockholders have not meant TO DECIDE
what is the exact amount equitably due and unpaid
under the contract to restrict the directors from
entertaining and submitting to the stockholders any
plan of com promise that may appear to them rea-
sonable.
si The resolution was passed with only one dis
senting VOTE
The meeting then proceeded to vote for Di-
rectors. There were two tickets in the field
The first was composed as follows:
Ichabod Goodwin, Portsmouth,
George M Browne, Boston,
r. Francis Coggswell Andover,
Chas. E. Barrett, Portland,
Geo. w. Burleigh, Great Falls,
| Stephen 81. Bullard, Boston,
John B. Brown, Portland. 5
The second embraced the following names:
Ichabod Goodwin. Portsmouth,
-teal 3; Brown, Portland,
Chas e. Barrett, W
IL. a. Rollins SQueTSWcrth =
Stephen Fl. Bu1lard, Boston.
hoThere were 1896 shares represented at the
meeting, and 2459 were necessary for choice.
The second ticket was elected. 1t will thus
be seen that the Presidents of the Boston &
Maine and Eastern Railroads are no longer
Directors of the P. S. & P. Railroad, No other
journed. ~ AAA-
) At a subsequent meeting of the new Direc-
tors Hon. Ichabod Goodwin was reelected
President, Eliphalet Mott Treasurer, and Chas
e. Barrett Clerk. JsAts- - AEA2s4t'E
The meeting was a very harmonious one, and
very largely attended by stockholders, both Ia
dies and gentlemen. The two points in the
discussion on the ''gold question was one adj
yaneed by Mr.. .Homer,s SHAT it would be better
to accept $1S0, 900 in currency, which was equal
to 2lper cent. additional a year, for the past
SIX years, than perhaps get. nothing after ex-
pensive litigation. "A half loaf was better than
no bread" Hon. G. L. Woodbury. thought,
on the other hand, that if $194 900 in gold, or
it's equivalent in currency, was Justly due to
the stockholders Of the L. s.. & p Road, he
could not see why it should not be paid in full.
- As the matter stands now it remains in the
powersQ Of the Directors of the p s. & p. to In
stitute suit against the Boston & Maine and
Eastern railroads for this s194 900 in gold or to
make such eompromise as may seem proper to,
them.
ANNUAL REPORT OF THE DIRECTORS
From this report we learn that the receipts
the past year have been $575, 086. 10 and the ex-
pendituress Gncluding the $4,000 renewal
fund.- -$409 a492S; making the net income
$1b5 1852 which, after educting .$141. so7 ID
for new cars, engines, dividends ana taxes 1
leaves the company, q surplus accrued this year
Of 1913 77927. $3.50 , $50 y
The Directors also state that the improve
ments near the westerly end tof Portland
Bridge are completed, and the site. consists of
seven acres of upland and flats, the latter be- |
ing enclosed by q sea wall 1100 feet, in, length |
and 70 feet high. On this land ,has.been built |
a machine shopoand wood shop,s both 150by l
~ placksmiths shop, % by 40, and dry |
house Tor storage OF lumber, 100 by 80. More
than 1000 piles driven 16 TO- 30 feet into the |
mud are used under the foundation of the
new engine house built on this new land
450 feetonithc back and $40 feet ON the front--a
and the new turn-table which is 30 feet in di- I
ameter. Two substantial granite abutments |
have been erected at Great Works River |
Crossing, and other important pieces of ma
sonry work rebuilt or repaired They state that
s72 tons Of re-rolled iron rails have been laid
the present season, and 1850 cedar sleepers
the past summer Extensive repairs have
been made to Portland Bridge and Draw, and I
all the depot buildings Of the road are in good
condition, and all that are required except at
Portland. Two frst-ciass engines have been
added to the rolling stock, one named GGov
Cony, from Hinckley 8 Williams works at
Boston, and the Berwick" built by the Port
land Company, Engines and cars belonging
10 the road are all in good condition. and five