Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1872-07-16

only difficulty was in regard TO the raising of
funds. The estimated expense of the cOnstruc-
ton iSiabout $1,000 which covers land dam
ayes and additional rolling stock Thus far the
road has been built to Gardner, and owes
about 100000 with stock valued at $50 900 or
$4,000 which can be used on the extension.
This is light debt, but if $500, 900 is added for
the extension it makes too great an indebted
ness. He thought if Gardner and Winchendon
would subscribe 100000, the rest could
be raised without bonding the road; Gard
ner would undoubtedly be ready to do its part.
1t was not necessary that the whole $500 900
should be subscribed but if one half the amount
is provided for the remainder can be left as
floating debt, soon to be wiped out by earnings.
He said the importance of the road to Worces-
ter is VITAL the city is already richer in the rise
of real estate and the increase of trade, by more
than its subscription. The towns on the line
have already got back all they have contributed
to the road, and are ready to take hold with n
little more effort, and put the road where it
should be, in its connections with the northeiL
roads.
Mr.. Z. w. Lincoln desired a more detailed
statement of the expense to be incurred by The
two routes, the direct, and that over the tracks
of the two other roads. He thought the cost to
get to Wnchendon, and TO the union depot in
Worcester would foot up half a million of dol
lars, and if the present roads could be used it
would result i'll saving to this corporation. He
wanted the subject fully ventilated before action
the business to be gained by the eXtens ion, is
mostly of heavy freight, and it would seem that
it could be brought around mile or two further
without great loss from delay.
Col. Phillips explained that the contract price
for building the road from Worcester TO Gard
ner was S24 900 per mile and that the land
damages, depotS, &C., have since raised the cost
to 100000. The distance from Gardner to
Wnchendon is ten miles, and, as the average
difficulty of the line is less than of the portion
already built, and most Of the proposed line is
through low priced land the engineers esti
mate of 100000 will undoubtedly cover the
whole expense.
Some further discussion ensued, duIing which
il was shown that the railroad commissioners
had no authority to compel the Vermont and
Massachusetts road to allow this corporation to
use its tracks, and that, if such an arrangement
could be effected, it would cos two-thirds as
much as to build an independent line. 1t was
also stated that the road is on a good financial
basis, having more than paid its expenses the
| first year.
Hon. Geo. + HOar said he onsidered the n
port Of the directors, and the explanations
which had been made, TO be as full and definite
as could be expected; that the original plan Of
the road involved this extension, and on it was
based much of the contribution which has al
ready been made; that the suggestion of running
on the tracks of other roads was an offer from
rival line, and one not deemed for the interest
of this road. To try to build an independent
| line as soon as may be is the only course by
which this corporation can discharge its duties
| to its individual stockholders, to the towns
along the line, and to the public at large He
offered the following vote:
That it is expedient to proceed at once to extend
the road from Gardner to Winchendon and that
the directors be authorized to proceed at once tC
procure additional subscriptions the stock of the
road, not to exceed $300CvO, to deray the expense
| ofthe extension.
The matter was fully dicussed by MIR. E. W
Lincoln, Hon. George F. Very, Hon. George NJ
Rice, and Hon. George F, Hoar, after which
amendments were adopted striking out thu
specified sum of 100000, and leaving thu
amount to be raised by subscription subject t,
the action of the directors, and providing tina
no action toward contracting for the road shall
be taken till after the directors report the result
| of the stock subscriptions. The meeting ther
| adjourned till August 9Th, at 10 O'Clock, a
which time it is expected the directors will bt
ready to report.
Previous to the adjournment vote was pass
ed requesting the president to report at the ad
| journed meeting all facts bearing upon the Wor
cester terminus of the road, and its relations to
| other roads.