The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1871-03-20

Maine rosd provided that eech road VIII
transport passengers and freight oet"een
South Berwick Junction and Boston az
same pro rata sun per mile as the MAINE 80
trail shall do between Portland and Soulh Der
wick. and that no competing line shai' 70
constructed by either road.
President Good win here explained that this
- oo,ld not now be built and stocked fer
los than $1,000 OOO, and six per cent. on thai
would be S1S0,0O0
Mr.. Peter T. Homer, of Boston, made an ex-
plauation OF the position of the Boston & |
M aine road, vindicating them in obtaining |
their charter. |
Mr.. Shaw, of Boston, offered the following
Voted, That this Company accept the offer of
the Eastern Railroad Co. to enter int a per-
petual contract, under which the stockholders
shall receive five dollars per share semi-apnu.:
ally; and the Directors are hereby authorized
and directed to enter into such contract on
this basis in such form as shall be seen to them
advantageous to the interests OF this Company
j. W. Emery, Esq, of Boston, Direc-
tor of the European s. North American Rail
road, said that be was opposed to passing over
the proposition of the Maine Central road In
this manner His Company's interest lies east
of the Penobscot river. AS railroad tariffs are
a tax upon tho business OF the community, our
d.sre is to reduce this tax to the smallest
amount consistent with everything. The prop
estion of the Maine Central meets with the
approval Of the e. & N. A. r. r. Large
amounts of lumber and produce east of Ban
gor never have gone over railroads because the
tax was so great; but the reduction OF the
rates between Bangor and Boston has reduced
the expense and time so much that the bust
ness between those places has doubled within
few months Mr.. Emery spoke very ably in
regard to the prospects Of this road, saying
that it would be open for traffic by next Octo-
Der.
Col. John H. George, Of Concold, said that
the interests of this road were to unite with its
natural friend, which was the Eastern Rail-
road. The Boston s. Maine was built to cut it
| in two, but the competition east of South Ber-
wick was adjusted by the recent lease. If
both these roads, which run on parallel lines
not more than six miles apart on an average,
were put under one management it would save
the enormous sum OF 100000 to the people of
4 Maine. The proposition OF the Maine Central
| to neutralize the bit of road between South
Berwick and Portsmouth is absurd. So too is
the offer as to the freight and passenger tariff,
| which is that the Eastern and Boston s. Maine
shall do 1t pro rata between South Berwick
| and Boston on the same terms as the Maine
| Central shall between South Berwick and
Portland. But are they willing to make it pro
rata between Baogor and Portland or Boston? ?
That is, they would compel the Eastern and
Boston & Maine roads to conform to their rates
| west of Portland, but are not willing to make
~ \ III II
Boston. Under this arrangement they might
demand ten dollars per ton freight and six
seven, eight or nine cents per mile for paSsen-
gers and compel these roads to receive but one
half cent a mile for passer gers and five dol
lars per ton on freight between South Berwick
and Boston. If the Boston & Maine should
build their road through to POI tand they will
find that the Eastern road has brains and
money enough to build one from Dover to
Portsmouth, aud by the time this has been in
operation few days they will come to theii
senses 81
Hou. Charles Levi Woodbury., of Boston
said the proposition of the Eastern road to pay
ten per cent. and to wipe out the principal o
debt is preferable to that of the Maine Central
, which is to also pay the same per centage ant
euo iHtoiCbt outy vi auy Lew utDG CODtracteO
But supposing the contract should be annullei
where would this Company be? Involved
: heavily in debt. What guarantee have W,
that the Maine Central could meet their obi
Cations believe that they pay no dividend
now, but perhaps they may be reserving the
surplus funds with which to pay out ten pc
cent. rental. believe, too, that the Main,
Central means no good to the city OF Portland
| where have some interest, direct or indirect
and no little affection. The Eastern roa,
means to pursue a very liberal policy toward
5 Portland in several ways; their trains leavip,
4hat city at an early hour and running to Bos
? ton in three and half hours and returning al
night. Fast freight trains are also to be pu
on for especial kinds of perishable goods, ane
perhaps'a night express train with sleepins
palace cats and through connections with New
York. Mr.. Woodbury's remarks were very
calm and produced much impression.
The question was now called for on the reso
luton submitted by Mr.. Shaw, and Mr.. Homer
dewanded stock vote there on Messrs. f
w. Choate, of Beverly. Eliphalet Mott, Treas
urer, w. H. Hackett. OF Portsmouth,, aai
, Henry L. Williams of Salcu,werc appointed
r committee to receive and count the votes, VIII,
reported subsequently, the result as follows
Whole number of shares. kh2z; yes, 1900, nc
1888. The meeting then adjourned