The Portland daily press., 1876-01-19

remain charge and lien upon the road of
SAID company in favor of the roads making
such advances, to be enforced as provided in
the mortgage between the parties, dated
January l, 1875. 1t is further agreed that
the lease of the Montreal, Chamblv and Sorel
railroad, as executed on the oath day of
Nov 1874, and modified on the 18th day of
March 1879, running to the Vermont COM
panies, is to be held and carried out in all re-
spects, and that the managers shall also
carry out the contract with the Eastern rail-
road mentioned above. 1t is also agreed, that
the managers shall not demand from the city
OF Portland, the issue of any bonds of that
city in aid of the Portland and Ogdensburg
railroad, under any vote of the inhabitants
prior to the date of this contract.
Mr.. Hersey spoke in the highest terms of the
directors of the road, who had pushed the en-.
terprise to its present state of completion. He
thought that it had not been overestimated and
will reach the expectations of the most san
guine if it never pays dollar in dividends.
Messrs. w. S. Dana, G. w. Woodman and
y. Marshall Brown were appointed commit
tee TO receive, sort and count votes for ten di-
rectors. The old board were elected as follows:
S. j. Anderson, j. E. Donnell, d. w. Clark,
Il. N. Jose, d. R. Hastings, w. L. Putnam,
A. Spring, j. s. Kicker, W. F. Milliken and j.
Eastman. There were 7,71O shares represented
by q stockholders and proxies. All of the
above directors received full VOTE
While the committee were counting the votes
President Anderson spoke of the advanced
state of work on the Burlington road. This
road will give US, when completed, direct line
to one of the greatest lumber marts in the
United States. Our South American trade,
which is now rapidly on the increase, will re-
ceive great benefit from Burlington. The
speaker was in hopes that our citizens would
realize the Importance of this road to Portland.
By another season it is expected that the road
will be opened to Swanton. There are at pres.
ent $50 men at work in Vermont, and twenty
miles are already graded towards Swanton.
G. e. Jose made very 1atterng allusion to
the road and its managers. He remarked that
the volume of the business already amounted
to $220,000, which was the creation of the road
before reaching the Notch, beyond which it was
thought they must pass before reaping any
benefit. The prospect, he remarked is most
f1attering, Notwithstanding the depression of
business the world over
NJ G. Palmer, Esq, spoke in the same strain
and in view of the very satisfactory labors of
the directors, he moved vote of thanks to the
officers of the road for their untiring energy in
carrying out the enterprise. The vote was
unanimously passed.
President Anderson responded in behalf of
the officials of the road. He spoke in high terms
of the sentiment prevailing in this city as we'll
as in the towns along the line of the road, in
favor of the road. The citizens. along the linz
of the road had encouraged the directors in
every effort put forth for the completion of the
road. Already large quantities of goods are
shipped over the road to Vermont for consump-
ton.
W. S. Dana, ESQ.,, suggested that the mer-
chants of the city keep record of the goods
sold the coming year to go over the Ogdensburg
road. He thought the.showing at the end of
the year would be most fiattering one
The meeting then adjourned until the second
Monday in February, at the same hour and
place.