The Portland daily press., 1872-02-12
The Ogdensburg Road and Home Inter-


MIR. EDIToR.-There appeared in the PRESS
of Tuesday communication to the 'Iron
Manufacturers of Portland" in regard to the
city's taking stock in the Ogdensburg road.
There has been an appeal, he says, to the me-
chanics and artisans of Portland, and init
mates that the Ogdensburg road could help
them out of it.
Now sir, 1 Iwish to state what they have
done, or have not done, for the rolling mill.
The Portland Rolling Mill Company employ
about two hundred mel, at prices suited to the
work which they perform. The pay roll
amounts to one hundred and fifty thousand
dollars a year, or an average of twelve thous-
sand five hundred month. Three-fourths of
that or one hundred and twelve thousand five
hundred, goes directly to Portland dealers in
all the necessaries of life, and probably fifteen
thousand more to the savings banks.
What has the Ogdensburg road done for this
company? They bought rails to lay about one
half of their track, or two thousand tons, and
went to England for the rest. Why did they
go there for them when they could have been
obtained here? Was ii because the rails were
poor? Certainly not will admit that they
obtained them cheaper. And why? 1t is be-
cause they aoere an inferior rail. Now, sir, if
you take into account the cost Of exchange,
and duty, the quality and the interest on the
money expended, about one hundred thousand
dollars, and 1 think their profit will reckon the
wrong way.
They could have obtained the rails of this
company at such time and in such quantities as
they desired. Besides, the Rolling Mill sub
scribed literally to the stock of the Ogdens-
burg road, as did many or most of the business
men of Portland Now, if majority of two
thirds of the voters should vote s'yea" on the
question at issue, will the directors of the P. &
o. send million dollars to England for second
quality rails to lay their track? They took two
months work from home institution and gave
it to England. Why not interest the English
capitalists in the matter, if it will be such
success as they claim. 1t would be but justice
for them to build the road when they get the
money for the rails.
1 believe the Maine Central road bought
twenty-fiv hundred tons of English rails about
two years ago Some of the English rails were
laid on one side of the track and those of Port
land make ON the other. What is the result?
The Portland rails are there yet in good order,
while great many tons of the English rails
have been worked over into new rails by the
free adnsixture of good american Iron!
If the holders of the first mortgage are so
sure that the road will be success, why not
give up their first chance to the city, and they
take the second? Will they do this? Let us
bear from them and know what their policy will
be towards the Manufacturers of Portland in
the future? HOME INDUSTRY.
Light Wanted.
At the recent hearing before the City Gov
ernment Gen. Anderson declared himself
quite at a loss as to what he should say in sup
port of the demands of the Portland g. Ogdens-
burg spectators, and went on to prove the
truth of this assertion in speech of an hours
duration.
Now it is not at all strange that even the
Generals usual flow of ideas should be checked
by the wonderful discrepancy between the mag
nifcent promises made by the Ring, and the
lame and impotent conclusion to which they
have dwindled; and Iventure to offer few
suggestions as to certain points on which the
public would like to be enlightened, 50 that the
General may not lack text when he makes
his next appeal.
In the first place, what has become of the
reliable gentleman who was ready and will
ing to build the entire road for 500 600 per mile?
Was he a myth? Or was he the fgrnent of
disordered brain; and does the General see him
still in his dreams? 1t would help their cause
nightly if they could bring him to the front in
proprio persona, but L fear he is ''avay in der
ewigkeit" with the summer cloud and Brett
mans Charity"
SecOndly:-As to the cash subscription of
$500, 900 from outside parties upon the securing
of which the city subscription was to be con-
tingent. Was that also of mythical origin?
So far as 1 have been able to learn, only half
that sum has come to hand, and one might be
pardoned for the suspicion that the subscribers
to the remainder were merely stool-pigeons,
who were released when they had brought
down the game.
Thirdly What disposition was made of the
100000 of bonds already issued? How many
were actually sold and at what price; how
many were and are still hypothecated; and
what has been the cost of the road per mile
when we take into account the depreciation of
the bonds?
Fourthly: does Gen. A consider the
market value of the one thousand shares of
unissued stock which the directors magnani-
mously propose to turn over to the city as Sc
curity for So, 900? And by what arithmeti-
cal process does he arrive at the result that the
possession of four thousand shares would en-
able any board of INSCRIPTIONS directors to
control the city's seven thousand, which are
bound to be voted solid? We ought to be CRATE
full to the managers for pointing out our dan
ger, though we may not exactly understand
Ogdensburg arithmetic.
Fifthly-Will the General be kind enough to
inform us how much of the valuable timber
and mineral lands along the line of the road in
Bartlett and elsewhere has come into the pos
session ofindividual members of the directory
as this may enable us to understand the great
anxiety which they feel about the extension of
the road?
If it should appear that, as has been assert
ed, these gentlemen have invested largely in
that region, it would be very natural that they
should be persuaded that the welfare of Port
land depends upon getting their lumber and
iron to market; but it might be question
whether our citizens generally would take the
same view of the matter. Indeed there
might be still another question as to whether it
would not be cheaper for the city to pay these
gentlemen outright the prospective value of
their investment than to throw away so, 500, 900
in a vain attempt to recoverthe $3.50, 900 already
sunk. O.P