The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1870-10-29

Saturday Morning, Octobsr. 20, 1870.
Portland a.d Roche.ser aa,,r..s.

Portland asd Rochesrer Railresd.
"1he Stakeholder" OF New York city, a pa.
per OF high standing on matters of finance
and railways, devotes two columns of this
weeks issue in setting forth the advantages OF
this route and its connections. We copy a
portion OF an interesting Article:
| AT Groton Junction on the Worcester and
| Nashua ROAD the Portland t& Rochester will
make connection oid Fitchburg, with the
Hoosac Tunnel route to the W est,
| On the line to Montreal and Ogdensbura.
| the connecting link tor the Portland & Roch-
ester IS supplied by the Montpelier q Wells
| River Railroad, n miles now under contract
| BY Boston parties, leaving to be completed IN
| addition only Is miles, the distance from AL
ton Bay to Laconia on the line OF the ooston,
Concord Il Mon real road.
On the line to Rutland S450,0e0 has been
subscribed to the stock of the Concord 4
Rochester road, and we are assured that The
character and wealth OF the parties at Con
cora sufflclenty guarantee that the road VIII
De Duilt at an early day. The road from Con-
cord TO Claremont is now running rs miles to
bradford, and tho remaining rs m:Ies to
Oiaiemont are under contract, leaving link
OF only II miles between the latter point and
Rutland to be provided Tor to complete the
through connection between Portland and
the West ria Rutland.
AT Rochester, as our readers are aware the
Portland d Rochester makes direct connec-
ton with Boston over the Boston e. Maine
apd the Eastern roads; aud third and iude-
Nashua yta The NashaMai Ros.en aoae Is maze At
d Lowell rusrrt,. =. aiha boston
1t will be seen that the Portland q Kucnes-
ter road has not only paying local business,
but constitutes the main stem of profitable
road which Wil .Ir1of fc L. 81
traffic OF a vast railway mileage with which il
will connect at Rochester. These connec-
tons embrace, besides the New York route,
the route to the Great West through poIth-
ern massachusetts, and, what is deemed of
even greater Importance, the traffic which con-
nectin- roads in New Hampshire, Vermont and
Northern New York will bring with greater
dlrectness and less cost fron the st. Law
renee land Mississippi valleys and the fertile
margins OF the great lakes.
The management OF the Portland & Roches-
ter is in safe and very able hands, the dlrec-
ton comprising some of the most substan-
tlal citizens and capitalists of Portland, to-
sether With gentlemen resident in other cities
wh'se pames give assurance o. upright and
aDle management III any enterprise with
which they may be connected.
he road which we have heretofore men,
TONED as ioiming an important New England
Runway cOinectiOn, Is mdklDT satisfactory
progress towards completitn. 1t Is In opera
tion fiom Portland 20 Sprinovale, and thence
10 Rochester the heavy earthwork and bridg-
ing is nearly or quite done, so that subsGan-
tlally the grading aud masonry on the entire
line OF the road is completed. All tue work
is flrst-class. For the purchase OF iron and
additional rolling stock the. company are
about to issue S35000O of bonds, at Z per cent
interest, principal payable in seventeen years.
lhese are hrst mortgage bonds, constituting,
with the Portland city loan, the only lien on
the company's property, and amounting in
all to Sl,o5O,OOO. Few roads are so lightly
encumbeled as this, the whole interest charge
being only S66,500 per annum, These bonds,
which VII probably be sold in the New
England markets, should bring very near
par beng upon the trunk line OF ali exten-
sive system Of roads betw cen New York aud
Portland and the West. The completion OF
the road to Rochester and the building thence
OF the Nashua and Rochester RairOrd, the
capital Tor which latter is already nearly
provided through stock Subscriptions. makes
the connection complete to New York uid the
Norwich q Worcester, and Providence q
Worcester, the Sound boats, the Springfield
route and the Connecticut Airline and
Hartford q Erie, as soon as the latter shall be
completed to Palmer. Thus the distance be-
tween New York and Portland is shortened
over 4O miles, as compared with the present
route UiG Boston, TO say nothing Of the delay
and expense OF the stop al, and carriage
iac ross, the latter city