New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-05-30
N NEW-FNGLAND.

LEASE OF THE MAINE CENTRAL BY THE EASTERN
RAIIRoAD-FURTHER CONSOLIDATION confirm
P1ArED-RAnwAY COMPETITION AT AN KIND FOR
SOME TINE TO COME.
PORTLAND, May 29.-0ne of the most impOr-
tant railroad transactions that has lately or, perhaps
ever occurred EewEngland has been begun here by
the lease Of Maine Central and its branches com
psng more than 800 miles Of track to the Eastern Ra
road The next step will be the narrowing OF tho gauge
OF the European and North American Railroad and the
leasing OF the road by the parties this 1t is pre-
dicted Will take place within the next GO days This
disposition OF the Maine Central came about through
fight made Last year by r. B. Dunn OF Waterye against
Judge Rice President of the road. when the former
bought up and sold to g. D. Ward Of Boston, one Of the
Directors of the Maine Central enough stock to give
the Ward party a controlling interest When
too late 1t was discovered by the other Direc-
tors that Mr. Ward not only the rep
resentatiye OF the controlling interest Of the road
as against President Rice but the representative or
the Eastern road which had hard contract with the
Maine Centra-a contract it was willing II not anxious
TO break The Eastern also wanted 10 make sure OF
halter means TO fight its competitor for the Down
East business Of Boston, At the last annual meeting,
the Ward party for the sake OF appearance and az the
request OF some OF the other directors did not take ad
vantage Of tho power they held but allowed President
Rice and the old Board TO be reelected with the under
standing that the event which has Just taken place
more satisfactory the Eastern road than any former
arrangement as to rates of freight and fares and also
gives large return TO the owners OF the
road each OF whom, from the time Of their
purchase, made q fortune out OF H. ibis
single transaction Is but link in great plan
for through route from Halifax 70 Hew-XOrk. The
lease Of the European and North American Road Is not
vet executed but beyond all doubt is definitely set
ted The extension Of the consolidated line beyond ST.
& will ba
qured consent Of the Dominion Governments obtained
One or two Massachusetts, roads IN the movement,
and tina Boston, Hartford and Eric he new ownership
il understood TO be fully committed TO the scheme.
The best railroad in this section declared today,
that within twelve months passengers will ride from
Halifax to New-York without change OF ears. Tais
action 10 the elimination OF great deal OF scheming'
which mystery TO the average member OF the
Maine Legislature and about which not even railroad
men have felt very sure 1t settles for years to come all
questions OF any more free competition 5ctween tho
Boston roads for the business Of Middle and Eastern
Maine and sweeps everything into the channel indi-
Gated and the movement Is supported by capital
sufficient to crush any opposition that can at present
threaten. The whole Eastern public await with deep
interest and not without sohctude and forebodings TO
see what the business policy of the new consolidated
power shall be.
ANNUAL MEETING OF THE NORTHERN RAILROAD
CORPORATION.
CONCORD. n. H. May 29.-The annual meet
ing Of the Northern Railroad Corporation held here
to-day The old Board of Directors reelected. with
Opslow stearns as President The Auditors report
shows the of the road during the past year 70
have been sos S55 d. and the expenses with the State
taxes ana new rail account, t5l50O 81 leaving the net
earnings 6l Os4 TO- The contingent fund Is Increased
m SoS On During the year 1913 tons OF rails, and
1s S3 new seepers have been placed on the track ana
2l65 Of rails have been taken up repaired ana re-