The Portland daily press., 1873-09-18

was neld at the olu Malue OeHtrai uepot, ouuSo
Rice presiding. The principal object of the
meeting was to see If the stockholders would
| approve and ratify the contract of consolida-
| ton made by the directors on the 18th day of
July last, with the Maine Central Railroad
! Company, Somerset and Kennebec Railroad
| Company, and Leeds and Pennington Railroad
| Company.
The call for the meeting was read by the Sec
retary and the votes of the directors read in
regard to the agreement of consolidation, which
latter was read to the. stockholders. The fol-
lowing is the agreemen:
Whereas by an act of the Legislature of the
State of Maine, approved the twenty. sixth
day OF February, A. D. 1873, entitled IAN
Act for the Consolidation of certain Rail
roads," the Portland and Kennebec the
Somerset and Kennebec, the Androscoggin,
and the Leeds ard Pennington Railroad
companies are authorized to consolidate said
companies, or such of them as elect so to do,
with the Maine Central Railroad into one cor
poration, upon the principles, in the manner
and upon the terms and conditions, as far as
the same may be applicable of the act of
April l, 1856, entitled "An Act to authorize
the consolidation of certain Railroad Corpor-
ations:"
Now therefore be it known. that the Di-
rectors of said Portland ard Kennebec Rail
road Company. of said Somerset and Kenue-
bee Railroad Company, and of said Leeds
and Pennington Railroad Company in be-
half of said companies respectively, by virtue
of the authority so granted them, do hereby
enter into an agreement with the Directors of
said Maine Central Railroad Company for
the consolidation of their respective compa-
Al 81 Do;t n,
pany as follows:
Article l. Said Portland and Kennebec
Railroad Company, said Somerset and Kenne-
bee Railroad Company ana said Leeds and
Pennington Railroad Company, respectively
agree to be consol idated with and merged in
said Maine Central Railroad Company and
become part thereof and said Maine Cen
trail Railroad Company agrees thereto.
Art. II. The Maine Central Railroad Com
pany having already purchased and being now
the owner Of a lease of the Portland and Ken
nebec Railroad, its franchise and appurten.
ances for nine hundred and ninety nine years,
dated May II, 1870, to which reference is
hereby made, and having issued its stock as
stipulated IN said lease to said Portland and
Eennebec Railroad Company, it is agreed in
order to carry out the stipulations of the sixth
article of said lease, that the stock of the
u
may be exchanged for the consolidated bonds
of the Maine Central Railroad Company at
the rate of one hundred dollars in stock for
eighty-eight dollars in said bonds, with an
equitable adjustment of interest.
Vi pom said exchange Of stock fOl bonds. said
stock in said Portland and kennebcc Rail
road Company shall be considered cancelled /;
and the stock OF the Maine Central Railroad
Company heretofore issued to said Portland
and Kennebec Railroad Company under the
stipulations of said lease, shall stand for and
represent in said Maine Central Railroad
Company, he stock of said Portland and
| Kennebec Railroad Company, merged and
deemed cancelled as aforesaid.
Art Ill. The Maine Central Railroad Com
pany having already purchased and being now
I the owner by assignment from the Portland
and Kennebec Railroad Company, of lease
of the Somerset and Kennebec Railroad, its
franchise and appurtenances, executed Jan.
uary l, 1864. and on the first day of January,
1870, extended for the term of nine hundred
and ninety nine years, to which lease and as
signment, reference is hereby made, it is
agreed that the stock of the Portland and
Kennebec Railroad Company, issued to said
Somerset and Kennebec Railroad Company
as part consideration for said lease and the
purchase of the stock of said Somerset and
Kennebec Railroad Company, may be ex-
changed for the consolidated bonds of the
Maine Central Railroad Company, at the
rate of one hundred dollars in stock for
eighty eight dollars in bonds with an equita-
BILE adjustment of interest, and the stock of
the Name Central Railroad Company appor-
tened by the Portland and Kenntbec Rail
road Company (parcel of the Maine Central
Railroad Company stock named in the pre-
pnbinU artinlpl tn caid o,,1 r.
Railroad Company as the balance of the con-
sideration for said lease of said last mention
ed Railroad Company and the purchase of the
stock thereof, shall stand for and represent in
the stock of the Maine Central Railroad Com
pany. the stock of the Somerset ana Kenne
bee Railroad Company, which thereu con
shall be deemed to be cancelled.
Art ~. The Maine Central Railroad
Company, having already purchased and be-
ing now owners of a lease of the Leeds and
Pennington Railroad Company for nine hun
dred and ninety-nine years, and of the stock of
said company, which is now held in trust for
said Maine Central Railroad Company, it is
agreed that said Leeds and Pennington Rail
road Company shall be merged in said Maine
Central Railroad Company, and that its stock
now held in trust for said Maine Central Rail.
road Company shall be cancelled.
Art. V. This contract shall take effect wher
the same shall have been submitted to and rat
flied by the corporations aforesaid, parties here
to, at meetings called held and conducted il
the manner provided in section of the act Of
April 1, 1856, aforesaid, and thereupon the pl o.
visions of sections five, six, seven and eight Of
said act shall apply to the Maine Central Rail
road Company in the same manner aud to the
same extent that they apply to new consol
| dated corporation formed under the provisions
| of said act.
If either of the corporations proposing to be
consolidated with and merged in the Maine
Central Railroad Company shall elect not t.
execute and adopt this contract. it shall never
theless take effect as to such Of said companies
as shall execute and adopt il.
No definite action was taken on the agree
ment, but on motion of Hon. j. w. Bradbur,
it was
Voted, That committee of three be appoint
ed 60 consider and propose TO the Directors OF
the Portland and kennebec Railroad Company,
| the Somerset and Kennebec Railroad Company
and the Maine Genital Company such action
| by said companies us may be deemed necessary
| to secure to them execution of the proposed con
tract of consolidation.
Hon. Lot NJ. Morrill, of Augusta, Hon. j. w
Bradbury of Augusta and Hon George F
Shepley of Portland, were appointed said com
mittee. 1t was voted that when the meetin,
adjourn it be to October 8th, at a, m., at tn,
ola Maine Central depot.
At 10 a. M. the Maine Central Railroad Com
pany held meeting, President ldorrill presid
ing. its purport being the same as that of tn
Portland and Kennebec Company. Concurren
action taken with that of the former com
pany, and Hon. Josiah II. Drummond of Port
land, Lewis Pierce, esq, of Portland, and Ho
Noah Woods of Bangor, appointed tue commi;
tee of conference on the part of this road, an
the meeting adjourned three weeks, to the st
of October. at 10 O'Clock
The Railroad War.
The frog which was put into posiio
Tuesday evening by the Boston and Main
workmen, was torn up early yesterday mornin
by a force of Eastern Railroad men, and by
o'clock a. m. the track was sufficiently repaire
to allow an engine belonging to the Easter
Road to pass over it. Nc opposition to this a.
ton was offered by the Boston and MaiD'
From a. m. until noon an Eastern Railroa