The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1871-10-24
S91.248 80


The total number of miles worked for the
year is 4S5 4, averaging about 81 miles as a
basis OF operated line for The above earnings.
The President made Substantially the follow
i..g ST tement to the stock holders: The road
embrac three corporations. the e sex County
Il ilroad, extending from the Connecticut to
the PAssumpsc rivers; Montpelier and st.
.J0husbury, from the last place to West Dan
vie; .nd the Lamoille Valley Railroad, thence
TO SwInton. Eleven miles of the Essex coun-
t. road will be graded by Nov. Goth, and the
lion laid from West Concord to st. Johns
bury eight miles. The Montpelier g. ST. Johns
bury road is completed and track laid, fifteen
miles; six miles remain to be balasted and
will be done this fall. On the Lamolle Valley
road the grading from West Danville TO South
Hardwck is completed and track laying pro-
crossing at the rate of half mile day, and
will reach South Hardwick by the Goth OF No
vember. This will open forty-fo continuous
miles OF road. The grading of the road-bed
from S9anton going eastward is completed
eight miles, and by Dec. 1st will be done ready
for the track, thirteen miles. Track laying
b,s c)mmenced at this end, and weather IA
voring, will reach Sheldon early in December,
Between South Hardwck aud Sheldon much
work has been done, leaving only thirty seven
miles 10 be prepared for the iron, and much of
this distance is now being worked with force
sufficient to complete the grading by June,
1872. OF the entire line extending from the
Connecticut river to Swanton, distance of
1l8 miles, there will be completed this fall
fitty-four miles, leaving for completion in 1872
sxty-four miles, of which ten miles are grad
ed now, and work proceeding at rate which
will ensure the completion of the entire road
in 1872.
Mr.. w. L. Putnam moved the passage of
the following:
Whereas 1t is deemed expediert to take i'm
mediate measures for obtaining the means
necessary for the extension and final compile
ton OF our road to the west line of the State
of New Hampshire; therefore,
Voted-That the Directors be and are hereby
authorized to issue bonds of the Company Il
an amount not exceeding thirty-three hundred
thousand dollars, (S3300,000) payable in not
exceeding thirty years with interest seminar
principal and interest payable in gold, and te
secure the same by mortgage OF the road To-
Gated and TO be locoted in Portland an the
State of Maine, and thence to It's termination
at the western boundary line of the State
New Hampshire, with all the land and tene
ments, rolling stock, stations, fixtures ano
franchises thereof, and appurtenances thereto
together With any and all rights by lease o.
contract which may be hereafter acquired il
any and all railroads forming parts OF contin
uous line from Portland to Ogdensburg, now
owned or held or that may be hereafter be ac
Qulaed ior the use of said company; portion
vi salo Donds amounting only in the aggregate
to twenty-five hundred thousand dollars, to bt
to be issued to provide for the construction
completion and equipment of the whole o.
sald rallroad the remaining eight hundred
thousand DIDO dollars a to be appropriated to and t(
of prior eneumbrance on Thai nor,io, 81 oo;G
railroad extending from Portland. Maine. tI
Bartlett, N. ii. "A'' y
Voted-That the Directors be and tbev or.
hereby authorized to fix the details 81 coz a.
bonds and mortgage, aud to 90 all acts nooas
sary to carry the foregoing vote into effect 40
to dispose of said bonds OF the comnan12 @n ~
such manner and on such terms as then sh ~
consider for the best interests of the connanv
and to select three Trustees, to whom IL
aforesaid mortgage shall be made
A stock vote was taken on the above motto,
and the result was unanimously in the affirm
alive.