The Republican journal., 1872-01-25
The Central Consolidated Bonds,


The Maine Central Railroad Company
placed before the Railroad Committee of
the Legislature early in the session, a bill
of which the following is copy
IAN act authorizing the Maine Central Rail
road Company to make q loan.
Sec. |. The Maine Central Railroad Com
panv is hereby authorized to issue its bonds for
the purpose of providing means for putting said
road and its equipments, and the roads now
Cased to and operated by it, in efficient condi-
ton, and for the paw ent OF the bonded debts
and liabilities of said company. and of the cor
porations hereinafter named, that unite in the
mortgage. And said Maine Central Railroad
Company, and such of the following corpora
lions whose roads are now leased to and oper
ated by it shall decide TO do, viz the Port
land and kennebec Railroad Company, the
Somerset aud ke1nebec Railroad Company, the
Leeds and Pennington Railroad Company, and
the AndI oscoggin Railroad Company, are here
by authorized to unite in a mortgage of their
railroads, franchises and other property to
cure the payment of said bonds.
See. 2. This act shall take effect upon its APP
proval by the Governor
We are glad to see that the Committee
has unanimously voted to report this bill
and that it will 90 before the Legislature
with the best chances of success. This
measure is just what it purports to be on
its face-one that will enable the company
to put upon the market a higher class of
bonds, that will find favor with capitalists
by reason of their more approved securi-
ty, and thus be able, by savings in dis
counts and interest, to command a larger
sum for expenditure in improvements.
The managers have projects for improv-
ing their tracks, placing better ears and
machinery upon them. replacing wooden
bridges with iron ones, and introducing
every precaution and safeguard which
looks to the comfort and safety of travel
lers.
There has been no serious argument
brought forward to oppose this measure,
The cries OF monopoly and consolidation
have been raised-but they are as Old as
the first attempts at improvements in labor
saving machinery or locomotion. Rail
capital, and capital will not associate
without guarantees and privileges. 1t is
true that railroad managers hope 70 make
money and exercise certain control OF
business within their sphere. l. it to be
expected that men with the means and
capacity to carry forward these great en-
,erprises will labor without some incen-
tive? The true question with the public
is whether the small possible disadvan-
tages named are to be balanced against
the immense benefits which railroads con
ter The same considerations that induce
public favor TO these enterprises in their
early stages, apply with no less force to
their management in respect to each
other Certainly the public were not so
We'll accommodated with the rival and
conflicting interests between the Central
road and the old kennebec CON panV, rs
there are now when working harmonious
II and smoothly. Better cars, better
tracks more frequent trains. a ue# road
from DanvilIe to Portland, and independ-
ence OF the crowded track ot foreign
already real,zed
90 ''''' ''i'i4 ;
the Central Railroad to-day. 10 manage its
present and future But let the grumbiers
'~'Ne . 6 - - 1''e r. !" TIT III P'fN
~ ~ N"''0N iih0' - LILY"
their control. Il dozen wears ago. the cor
,,,,ro,i.,,,. ,.-.,,., ,,,,,!-.,,.- ,t t,..;,.. ,
f'9 'i ''h' "p'' INV 'N ~ W u
scant. receipts small, and the outlook
mos, 1;.o,,,,a,,;,,, o. ,.,,.... ;.,
,.
;..,,.....,-,- ~
o,3.-l.,a ,,.,.'..''-.l
:. >t = 49, ..L-.:... ..,.'., XIII.
=
cude a the tiles Of he Times 50 lanr ~ II .vl.
Ie,ns bsy. then rproo
The above. i not ~ .ccanrann.. W oor
offer. bnt Knowing I'm veil j. IL a.
that il viii he claimed q. sncb !, f,,oro
dav unless met now va how. talau IN.
step that comes next in our pro,,o.ition
as the following will show
Rrtr.sr .fa, % H.,
Reed Of ". Il. simpson, one hundred VOL
the editor Of the progre III H. y IT, IL
publican Journal OF the dates OF ian. nth and
Tha+ 10 ,.no,.
against an eq1'ai SUN 'hitI lhe hth9or
Times never AT any time made m. ch4roe