Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1874-03-11
The New MOntreal.AtIantIe Line.

since was only & preliminary one, agreed
upon by the managers Of tho respective
companies; but on the 9th ult.. the ar.
raugemeat was fully perfected in a legal
manner so as to be binding on all partie;
and is now in full force. The bonds, with
the Endorsement or guaranty, are now in
the market, aud judging from what is
said of them by men experienced in such
securities, we expect they will be readily
taken The following particulars we ex-
tract from a pamphlet recently issued BY
the company:
A business alliance has been effected
with one O. the strongest and most pros
porous railroad corporations Of New Eng
laud-thc Eastern of Massachusetts-by
which that company becomes directly in
tcrestcd in the early completion and sue
cessful operation, which, joining the Port
land and 0gdensburg at North Conway,
n. H., aud in tie city CT Portiand. Maine,
commands twenty millions of Invested
capital, and controls six hundred miles Of
railway in actual operation, has entered
into an arrangement by which it agrees to
pay to the Portland AMI Ogdensburgh
thirty per cent, of the receipts on all bus
mess received from or delivered to the
latter road al the point ofJunct:oD, North
Conway, n. H., and Portland, Maine.
This obligation covers freight traffic
bound west as we'll as east, aud passenger
as well as freight receipts. The imPor-
lance Of this alliance to all the parties
composing it can haIdly,be over estimated;
while to the Vermont division of the
Portland AM Ogieusburg Reilroad, it is:
for readily apparent reasons, of pse-cmi-
nent value. The Vermont division, con-
stituting the central link of this new aud
short line from the lakes 10 the sea, must
of necessity be employed in all east and
west TRANSFORMATION. Upon the western
terminus various lines from Montreal aud
Ogdensburg converge, while there is no
point at which eastorn.bounI freight can
be diverted, until it has passed beyond
the limits of the Vermont diyision-facts
equally true Of trade and travel trcm the
seaboard to the lakes and interior. Hold
ing thus the key Of the entire line, the
Vermont division cannot fail to secure a
liberal and constant share Of its earnings.
BY the terms Of the arrangement with the
Eastern Railroad. its guaranty Of thirty
per cent will be endorsed upon the bonds
of the Portland ani Ogdensburg Railroad.
Montreal will secure a new and direct
connection by the Montreal, Chambly,
and Sorel Railroad. which will supply the
connection necessary, beyond tho termin-
us of the Portland and Ogdcnsburg pro-
per, to make the new route entirely in
dependent and elf.controlling. No more
important railway combination than that
detailed above has been effected during
the past year, and none in which the prom
Use for future harmony and profit are
equal. The new roads secure the active
friendship and support Of an established
ard prosperous line while the Eastern,
controlling an unbrokeu system
Of rail from Boston to Halifax, secures
Independent aud direct route to Mont
real, Ogdensburg aud Ottawa, and the
right to its full share Of the. great trans
por,ation from the West, by the shortest |
line from the lakes to the Atlantic. Mon.
treal, by this arrangement, obtains a new,
easy, and certain route TO its winter
ports, selecting either Portland or Boston,
and facilities already imperative for It's
enormous expor: business. The extent
Of this traffic may be understood from the
fact that the increase of the exports FROM
Montreal during the last four years were
over two hundred pei cent. greater than
the four years ending in 1860.
EXCEPT New York, her steam ocean ton
clearanccs exceed those of any other
city on this coutinent) I,
The recent financial panic, the most Sc
we're Of any in our history, has demon stra-
ed most effectively the security of the
bonds of all New England railroads. OF
The numerous defaults of interest, not one
made by a New England road, while the
coupons Of the Vermont division Of the
Protland ana Ogdensburg Road, though
maturing 10 the midst Of the panic, were
promptly paid 10 gold. The comparative
ly small indebtedness per mile $4,000
lis an element of safety in the bonds Of
the Portland and Ogdensburg which should
not be overlooked. As will be readily
seen, the annual interest obligations per
mile are only 81, 900, while the average
earnings per milo, ABOVE OPERATING tx
pENsEs, Of the New England railroads
during the past year were $4,000, and
the average earnings, per mile, Of the
lead;ro Fest ond West Trunk lines.