The Portland daily press., 1875-08-09
In GENERAL
Officers of the Company-The Condition
of the Vermont Division, etc. ;, etc.


of the Vermont Division, etc., etc.
The corporators of the road were J. B.
Brown, 7. G. Jersey, 7. III. Weston, H. N.
Jose, S. E. Spring, j. III. Drummond, Fl. A.
Jones, 6. w. Woodman, G.. f. Shepey, I.
Washburne, Jr., A. X. Shurtletf, G. @. Clapp,
St. John Smith, John Lynch, J. III. Perley, G.
Fl. Haskell, NJ. G. Palmer, w. F. Milliken, M.
N. Rich, Henry Fox R. D. Rice, R. B. Dunn,
S. f. Hersey and G. K. Jewett.
The original officers were J. B. Brown, HI.
N. Jose, j. E. DonneIl, William Deering, f. g.
Messer, w. L. Putnam and S. E. Spring of
Portland, and D. r. Hastings of Fryeburg,
directors; S. j. Anderson, President; A. E.
Stevtns treasurer. In 1875 H. N. Jose became
treasurer; G. III. Foye, Clerk; Jonas Hamilton,
Master Mechanic; E. Newcomb, roadmaster.
In 1872 Mr.. Hamilton was made superinten-
dent. In 1873 Mr.. d. w. Clark took Mr.. j. B.
Browns place, and Mr.. w. It. Milliken that of
Mr.. Deerlng in the board OF directors, and Mr..
w. FL. Anderson was made treasurer. In 1875
Mr.. j. S. Kicker was made director in place
of Mr.. Messer.
The road is prominently a Portland enter
prise. 1t was built with Portland money and
Portland holds nearly the whole stock. Private
parties in this city hold stock to the amount of
over 100000, but the city in its corporate Ca
pacity has furnished most of the means. 1t
first voted p per cent. of its valuations and af-
forwards decided to take this amount-S714, 900
in stock. Several towns through which the
road passes also loaned their credit to aid in its
construction. In order to extend the road up
the valley of the Saco gold mortgage bond to
the amount of $500 900 was put upon the road
secured by first mortgage on the road to North
Conway. After the opening of the road to
North Conway in 1871, the company applied to
the citizens of Portland to accept the act of
February 9th, 1872, authorizing the city to
loan its credit to the road for S2,5OO0OO, and to
overcome any objections the directors agreed to
call for only $1,350,00O. At second trial the
citizens voted to accept the act by vote 1916
yeas, to 1853 nays. Messrs Fuller & Harding
agreed to take half their pay in bonds issued in
accordance with this act, and half in cash, Be-
yond Bems their pay has been so per cent. in
cash and the remainder in bonds The road
har been most solidy built and its earnings SO
far greatly exceed the expectations of its pro
jectors. Its receipts since it was opened have
been 1856, 72965; expenditures S3i8, 9O7. 33, net
income, $206, 2S235 1t must be remembered
that this business is simply way business, and
certainly is gratifying exhibit.
The money needed to complete the road
from the Fabyan House to the Connecticut
river will be supplied by the $2,3OO0 900 worth of
company bonds issued in November, 1871, none
Of ho, cn1J
two miles of road to be built from the Boston,
Concord and Montreal road to the Connecticut
river, which will require but brief period.
The condition of the Vermont division is as
follows: From the Connecticut river to West
Concord is distance of IA miles, of which Z
miles are graded, and the iron will be put down
at once, and the other are nearly ready, and
will be ironed in September. From West Con-
cord, 60 miles, to johnson, theroad is built and
in running order. From johnson to Swanton,
38 miles, the road 1t is thought, will be finished
in year. From just beyond to Burlington,
the Burlington Branch road is in process of
construction, which will be an immense lum-
Der feeder to the Ogdensburg, besides putting
this large and Touring city in close connection
with the seaboard. From Sheldon, just this
side of Swanton, the Montreal, Chambly and
Sorel railroad leaves the Ogddnsburg and runs
to Montreal, thus making an Independent
trunk limo direct from Portland to Montreal
From Swanton, on Lake Champlain, the Og-
densburg and Lake Champlain road, now I'M
der lease to the Vermont Central, runs to
Ogdensburg, and this road is under agreement
to run the Portland aud Ogdensburg cars.