The Portland daily press., 1871-12-14
Railroad Matters.

|
ton of $780, 200 to the stock had already been
secured, but among the conditions on which
some of the large subscriptions had been made
was one that at least S., 900, 900 should be re-
ceived before any assessment should be paya-
BILE. OF this amount 100000 is still wanting.
Among the subscriptions are 100000 from the
Worcester and Nashua railroad company, 500,
900 from private sources, $780, 900 from the city
of Nashua and her citizens and pledges of $780,
900 from the town of Rochester and
$4,000 from the Lowell and Nashua railroad
company, and about 100000 along the line of
the road. The directors recommend a sub
icription to the stock. The Worcester and
Nashua railroad company guarantee an inter-
est of 6per cent. annually. The financial con-
iition of this road is excellent. Its total prop
srty is valued at $l,65SOOO; it has a
surplus fund of over $67S,00O: for
the past ten years has made annual divi-
lends of 10 per cent, and its stock is quoted at
S136 per share, par value 500. Committees of
the Nashua and Rochester company have al
ready secured the land damages, and if the re-
luisite 100000 of stock is at once taken up the
| whole line from Nashua to Rochester will be
| put under contract by March and the road COM
| pleted within year. After further explana-
lions by Messrs. Shurtleff and Deane the fol-
lowing votes were unanimously passed. TWEEN
| ty-ive hundred shares were represented at the
meeting:
| Whereas, The Worcester and Nashua Railroad
| Company have voted to lease the Nashua and Roch-
ester Railroad for a term Of not less than twenty
years from its completion and to pay six per cent an
nuay therefor on the cost of said Nashua and Roch-
ester railroad the interest to commence upon the as
n ~
And Whereas said vote is based upon the condition
that the bona dde subscription to the capital stock of
| the Nashua AMI Rochester Railroad Company shall
amount to the sum of 100000 before such an
| agreement to lease is made,
And whereas the early commencement and rapid
completion Of sal Nashua and Rochester railroad is
matter of the highest Importance to the business
success Of the Portland q Rochester railroad,
Therefore voted, That the Directors be and hereby
are authorized in behalf of the Company to subscribe
for an amount not excee ling 100000 Of the stock
| Of the Nashua and Rochester Railroad Company
after satisfactory lease agreement to lease said
Nashua and Rochester Railroad has been made with
che Worcester and Nashua Railroad Company, with
the stipulation therein for the payment by the Wor-
eesteI and Nashua Railroad Company of six per cent
interest annually upon said stock.
Voted, That the Directors be authorized to apply to
the Legislature if necessary, for act to legalize
the vote of this special meeting. Also for any other
promote the best interests Of the cOmpany 70
Adjourned.
PORTLAND & OaDENsBURG RAmRoAD.-The
petition of the Portland and Ogdensburg Rail-
road Co. for the acceptance and approval by
the County Commissioners, of the location of
their track through Commercial street was re-
sisted yesterday by the inhabitants of Cape
Elizabeth, SO far as said location crosses the
public highway leading from Commercial street
to Portland bridge, on the ground that it will
further imperil the already exceedingly danger
GUS crossing of the bridge, and in fact so OBJ
struct their rights on this bridge as to render
them worthless. w. w. Thomas, jr., appear
ed for the inhabitants of the Cape and Gen. S.
j. Anderson for the Company
Gen. Anderson contended that the location
should be approved on the ground of its neces-
sity. The company's cars must come down
Commercial street, and the Board of Mayor and
Aldermen had allowed them to locate track
there. But the track was to be laid and trains
were not to be made up upon it, but in the COM
pany's yard further up He intimated that the
location would probably be only temporary.
Mr.. Thomas, jr., eontended that the County
Commissioners were custodians of the bridge, las
a county highway, and were bound to maintain
it free from distractions and preserve the rights
of the public and the grantees by whom it was
transferred to the county; and that in accepting
the deed of it the Commissioners pledged them
selves to do this.
Mr.. VIM. w. Thomas, ST., spoke of the dam
gers which had been created by the Portland,
Saco s. Portsmouth Company by the mlticiplic-
ity of tracks which they had laid, and contend
ed that another track would render travel al
most impossible, and therefore greatly injure
property in Cape Elizabeth. He thought that
railrnado ha ol1nUad tn on,
grades, but as in Europe, be compelled to go
under or over.
Gen. Anderson, in reply, agreed with him in
regard to the dangers imposed by the Portland,
Saco s. Portsmouth tracks, but though the pro-
posed new track would create no additional
danger because trains would not be made up
upon it. He stated that the Boston and Maine
Railroad Co. was seeking way to their propos
ed depot over private property, to be purchased,
and intimated that the P. & o. Railroad Co.
might acquire rights over the same line.
The Commissioners hold the case for consid-
Grafton.
BOSTON AND MAINE RAnRoAp.-A special
meeting of the stockholders of the corporation,
was held at South Berwick Junction yesterday.
The attendance was quite large, considerable
number of lady stockholders being present.
| The meeting was called to order by NJ G. White,
ESQ.,, of Lawrence, the new President of the
road, who stated that the object Of the meet
ing was "to take into consideration and to pro-
vide the measures either upon the increase OF
the capital stock or otherwise, for paying for
| the construction of the extension of the road
into. Portland as authorized by the Act of the
| Legislature of Maine"
The President in reply to a question stated
that the amount of increase of the capital stock
authorized by the act of extension was $1,000
900 and the whole amount would be needed to
pay for the work now located to within three
miles of Portland. The road is actually but
not legally located into the city, and he thought
that the amount would be sufficient to finish
the road into the city.
Mr. @. +. Choate, of Boston, offered the fol-
lowing vote: That the Directors of the B. g.
M. Road be authorized to increase the capital
stock to the amount of $4,000, 900, and to divide
the same into shares of 800 each, and that
stockholders shall have the right to subscribe
for the stock pro rata and pay for the same in
instalments. and ON such time as may be pro-
posed by the Directors
A committee of three was appointed to re-
ceive and count the votes, upon the above named
proposition which the committee subsequently
reported as follows:
Whole number of ballots, 1885
Yes, 1905
No. 779
Mr.. E. w. James, of Boston, suggested that
the Directors should consider the matter of q
reduction of the price of fares to two cents pei
mile, and the subject was referred to the Diree'
tors.
Mr. Walker, of Boston, stated that the rea
estate owned by the company in Boston was
worth ten millions of dollars.
The directors of the Boston and Maine road
have practically located their line into the city
we understand, as follows: They will cross
Fore river on the Rolling Mills bridge or by {
bridge close by it, cross Danforth street unde
grade, as the Maine Central does, and on strk
ing West Commercial street will keep near thu
foot of the bank ON the north side of the street
They propose to remove the protection wall
now being erected by the city at the foot of tn
bank, back forty feet, giving the railroad com
pany the right of way over the ground thu
taken, and so on, keeping parallel to the nortl
line of the street, crossing Clark, Brackett State
: Park, and perhaps High streets below grade, t
the foot of Union street. 1t is said that tn
route will necessitate the destruction of tn
: Portland distilery the soap factory of Leath
& Gore, the shovel factory and large numbe