The Portland daily press., 1870-01-19


Heport Of the President and DIreeior.
OF the Portland and Osdensbusg Bsaii-
road.
The following extracts from the first annual
report of the President and Directors OF the
Portland and Ogdensburg railroad will be
found of interest:
The Act inc operating the Portland and
OeurnsOuIg kalroad Company was passed
February 18th, A. D., 1867. An act additionai
was passed February 29th, 1868. The bocEs
Tor subscription to the the Capital Stock of
the Company were opened July goth. A. ID
1858; and the terms of subserlptinn accord.
ing to the provisions Of the several sections
of said acts in relation thereto having bpen
compiled with, and the sum of nine hundred
and eighty.fve thousand three hundred dol
lars OF stock, together with a large amount
OF conditional subscription, having been sub
srflDed, que notice was given tor a meet nn O,
the stockholders; and on the nineteanth 5aU ~
o., January, 1869, they met at the City Hail
in Portland, olganized, adopted a code of
bylaws and elected Board Of Directors
which Board OF Directors lmmed,atelv or,
gar lied by the election OF Samuel j. Ander-
son President. eLd Augustus f. Stevens Clerl,
and Treasurer.
A Committee of the Board was also an
pointed, with instruct ms to procure the SER
vices OF competent Engineer for the survey
OF routes, &c. That committae subsequent
ly reported that they had mace an arrange.
Inent with John F. Ande son to take charge
of the Engineering Department. Mr.. Ander-
SON Immediately took measures to organize a
most efficient corps OF Engineers, who pro-
ceeded with all possible dispatch to survey
the several proposed lines OF route as indi-
Gated by the Directors. And here Justice
compelS me TO say that, Notwithstanding the
haste with which the party was organized, in
my opinion more competent, diiigent and
gentlemanly corps OF Engineers aud assist
ants was never employed upon any like work
In toe State.
=" Before proceeding, however, with
the further details OF this branch Of our
menlary consideration OF the purposes as
presented, TO the public by the projectors of
this grand enterprise.
The objects sought to be accomplished
We're: First, 10 obtain the shortest aud best
line OF transit Tor the products of the i'm
mense re lion of country drained by the
Great Lakes t, the seaboard with Portland
Ior lis terminus; second, 10 open commuui-
cation with and draw the tlade of Northern
New Hampshire and Vermont TO the ware
houses anu stores OF Portland; and third, to
aid in the development OF the resources oi
our own State.
Boston and Philadelphia have sphnt Their
S5UO0O,00O each. and New York more than
S100 OOO,0OO, in reaching out for the Western
trade. 1t was estimated that Portland, by
the expenditure OF 5000 QUO 900, could Sc
cure such connections as would enable heI
successfully 10 compete for that prize
Why this great difference in favor of Port
land! The answer to this is found when you
determine where, tor the purpose of CONNER
clal competition 10 the transportation OF its
|Rroducts, is the West. Is it Omaha, or the
western end OF Lake Superior, or the Mlssis
sippi river, Chicago, Detroit, or where is thu
single point that will furnish a satisfactur,
dehnitiou OF the term? The answer can b
| best given by quoting rom one well versed Ii
| this great question. He says: "Whtre wa
the West when Dewitt Clinton sought for it
1t was Buffalo. Clinton said, when reacl
that point the entire western country is open
| ed. The lakes in connection with their riv
ers open way to the eranaiies OF the west
Was he right? Yes! all time has show
him 10 be right. Is he right to-day? Yes
| you may multiply your railroads, you ma,
cover this whole section through with rails
you may push them from the Mississippi
across the continent; Lut when you havt
done all that, the produce OF the west still nat
urally and legitimately flows into the lakes
| just as natui ally az wafer luns down hill 70
they offer the cheapest mode OF commuuica
tion, aside from tide water. Is Buffalo sti
the point of competition? / think not. Th
Weliand Canal has been opened, and now tn
point OF commercial competition is on Lux
Ontario, at the point nearest to the SeabOGrd.
We accept the defioition and say further, tha
point is Ogdensburc, the seabcard terminus
Portland; the shortest practicable line noI
| the lakes 10 the seaboard lies between thes
two points.
Ogdensburg then is practically the Yves
The network of railroads that cover III
country beyond the waters of the great LAKE
pour IN their freigbts 10 the various sbippir
ports from the farthest end OF Lake Super,
found to Chicago. Ihe ipnumerable fie,
OF sailing vessels and the splendid steamer
of the Northern portatIon and otht
companies receive their heights and Ian
them at the tarthest lake ports at trifin
expense compared with rail Iates. The tire
thousand miles of lake shore between thos
Two points, with its many and itch towns ant
cities, their products destined for 4 !oreig.
market, and their constantly increasing de
nand Tor foreign merchandise, and whose
pest means OF communication must always
be the lake waters, will be forced by the laws
OF trade to aim at that point which shal
place them, with the shortest rail carriage
aid consequently at the least expense, at til,
most eastery, and, sll its advantages consider
ed, the best shipping port of the Uritet
States. On the other hand it is well estab
lished fact. attested by the twenty year.
bil'er experience of Boston In Ler "Westerr
X. K" that no line OF road running in a ives
terly or southwestely direction and crossing
the great avenues of trade leading to the lar
ger markets upon tie seaboard can compete
successfully Tor that trade VIII 'ch at those
points of intersection will so naturally flow
down bill to the great long established reser-
volrs rather than up hill to Portland, The
point OF possible competition is then estab,
lished at the eastern terminus of lake navf.
CATION. Porllands commercial development
exists in this alliance, or it does not exist at
all.
The first question of Importance that came
before your Board alter their organizat;o Oh
was the location of the line from Portland to
the State border. Upon this devulved the so.
luton of our THU proposition, viz: the devel
opment OF the resources OF oar own State
The report oil the engineer, herewith present.
cd, shows the time, expense and careful con-
sideralion devoted to this branch OF our duties
With the tables before us, exhibiting The com.