Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1870-11-18
rHE RAILROAD coNTRo HERsE


THE RALLROAD cONTRO VERSE
The hearing in the Supreme Court at Port
} land on the case brought by bill in equity
by Nathan Cummings and others, stockhold-
ers in the Maine Central Railroad against that
railroad and its officers, was commenced on
Tuesday. The object is to prevent change
of gauge on the Maine Central, and the build
ing of the new road from Danville to Port
land; in short to defeat the contract between
the Maine Central and Portland and Kennebec
Railroad The Portland correspondent of the
Boston Advertiser gives a summary of the
bill as follows:
The bill Is of great length, having occupied
counsel at least two hours in the mere reading,
and sets out in yoluminous terms the whole
history of the consolidation of the Androscog-
gin & Kennebec, and Penobscot & kennebec
roads into the Maine Central Railroad. 1t
rehearses the contract made on the 26th OF
JAM, lS4S, between the Atlantic and st.
Lawrence Railroad and the Androscoggin
Kennebec, by whice a uniform gauge for these
roads was established and rates fixed for the
conveyance of freight and passengers OF the
latter road over the track of the former from
Danyille Junction to Portland. 1t next shows
the proposed plan of extension Of the Maine
Central Railroad from Danvile junction to
Portland, through Gray Corner, authorized
| by act of the legislature of February 70, 1851,
alleges that, under pretence OF this authority,
| the directors of the Maine Central have To-
Gated their line parallel with and alongside OF
the Atlantic and ST. Lawrence, and not by
way of Gray Corner, forming parallel line,
to the manifest injury of the Grand Trunk Cor
poration, which will be compelled to seek re-
lief in court of equity, and will thereby lr,
reparably impair the value of Maine Central
stock and bonds and the interests Of these
stockholders, the compliments. Next is an
alyzed the conduct of Edwin Noyes, acting
superintendent of the Maine Central Railroad,
as well as of Richard ID. Rice, president OF
the Portland and Kennebec Railroad, and the
directors of their road all of which parties
have combined to place the control OF the
Maine Central in the hands of Judge Rice
and these directors, who it is alleged, are IN
| possession of the Kenuebec 4 Portland by
pretended foreclosure and in fraud OF the
rights OF the Portland & Kennebec Company.
The conduct of Mr.. Noyes, formerly treas
urer OF the Androseoggin and kennebec Rail
road, as well as that of Reuben B. Dunn, af-
| forwards president OF the Maine Central, and
all the officers of the Portland Kennebec,
are handled by the bill in a manner which
| wildly recalls the fiery war of words, Grimm
alton and recrimination which was SO jealous
| " waged at the protracted meetings OF our
citizens in the senate chamber, last winter.
| 1t is said that the net earnings on hand jan
uary l. 1867, amounting to $3.50, 267 % were
sufficient to pay coupons and interest on all
the bonded and other debts of the company,
amounting to $l5l.945 ~, with an instalment
of $4,000 on the Bangor loan, making total
of $l7l,945 70, leaving balance of S64.35l-
so, or nearly four per cent. on the entire capt.
tai of the company, fairly belonging to the
stockholders and subject to dividends.
But from the time one Rueben B. Dunn, OF
Waterville aforesaid, a stockhoder, director
and afterward president of said Maine Central
Railroad Company, with said Moves and Rice,
controlled the line of said railroad as they did.
extraordinary increase ofexpenses commenced
which has gone on at such a ratio that the net
earnings of the road have fallen to less than
nothing, on the first of January, 1870, while
the amount of interest due has been gradually
diminishing.
Then follows synopsis of the trade made
between the Maine Central and the Portland
& Kennebec road, and lastly is alleged a con-
spiracy between the president, treasurer and
directors, who, it is said, have neglected and
refused to pay the interest and principal of the
first mortgage bonds in order to get possess
ion of the road, the bonds being bought in for
them by other parties as mortgages, and
change the gauge of the road and accomplish
their other nefarious purposes previously re-
hearsed.
For the company and nearly all of its officers
appear Davis and Drummond, whose answer is
by no means so long as the bill of the complain
ants, yet raise several very important points Of
l.. . n rt,a Of ny
admit that the gauge of that part of the Maine
Central, which was formerly the Penobscot &
Kennebec, has been changed, but deny any in
tention of changing the gauge Of what was for
merly the Androscoggin & kennebec, until the
contract between that and The Atlantic and
st. Lawrence has been duly terminated accord
ing to its own conditions. They also object
to an injunction against the change OF gauge
being granted on the ground that tor several
years past the Grand Trunk has not in reality
connected with the Maine Central, but freight
| and passengers have, with certain exceptions,
been transhipped at the junction OF the two
roads. Again, that the Grand Trunk assents
to the proposed disconnection, has not been OBJ
jected to on the part of the Grand Trunk or
its agents, that the compliments derive no
rights under that corporation, and their at
tempt is an impertinent interference with mat
tiers of others in which they have no concern.
In respect to the proposed extension from
Danville Junction to Cumberland, they re-
ply that such an act is lawful, and authorized
by act of February 26, 1867. And finally,
with regard to the contract with the Portland
& Kennbec of May ~, 1870, they respond
that the contract is legal one, lawfully en-
tered into by the directors, and ratified by the
stockholders at legal meeting, in which a
majority of the whole number of shares in
the capital stock of the Maine Central Rail-
road were cast in favor OF its ratification, May
| 81, 1870. Upon the conclusion of the read
ing of the bill and answer, Judge Barrows al
lowed counsel time for the preparation and
arrangement of evidence.
Samuel Record of Buckfeld, arrived at the
New Haven depot in New York, on Saturday
evening, on his way home. Strolling along