Daily Kennebec journal., 1877-09-04
The New Railroad.

To the Citizens Of Augusfa
Remember, that nine tenths of all the opposi-
ton 10 this new railroad, comes directly indi-
rectly from the Maine Central Company. Their
adro endeavor to conceal this fact by withhold
ing from the "Remonstrance" the names OF the
prom inent men of that road is only Confession
of ii. 1t be shown that the most prom-
nent opponents of the new road are 10 almost
every instance, stockholders or bondholters IN
the Maine Central, or persons carrying passes aud
enjoying special rates of tariff which they wish TO
retain.
The Somerset Railroad, in operation from Anson
10 West Watervie now, connects with the Maine
central at the latter place; but would cor oct
with the new road when built and bring t.. .he
traffic Of that region to Augusta. Now, if the
business OF that Somerset road Is so utterly worth
less as they would have you believe, why are they
30 unwilling to lose IL, and why do you hnd them
expendcg much time and money to defeat this
new enterprise IN order to retain NJ Indeed, the
mask is torn of in this mornings journal, by
Merchant who seems to be ASHAMED or afraid
TO sign his own name, lest the Characterization of
the opponents OF the road be illustrated in his
case He tells gou that the Maine Central is so
anxious to hold the business Of the Somerset Road
that they l0iH buy up the Uhote line rather than
have it diverted to Augusta by the new road. The
want of logic in this reasoning is only excelled
by its want of honesty.
Now what are the factsi The gross receipts
of the Somerset road, Is shown by the Iressurers
Report for the year ending April Both, 1870, were
S2o 20037, and the expenditures S20 656, leav-
ing the net earnings for dividend So,053 So. 1t
is fact established by experience nearly 5000
miles Of this gauge, that narrow gauge be
operated 33 per cent less than the standard gauge.
Our opponents concede this. If, therefore the
Somerset road had been narrow gauge, the ex-
penditures would have been only Sl3 900 instead
| of $4,000. and the net earnings $4,000 instead
Of $4,000, or si1 per cent. on S25O,0o0. the cost
of the 25 miles OF Somerset road, il 1t had been
built narrow gauge. The running expenses for
| "A miles to Augusta, would be but trte more
than for % miles to West Wsterville, and the
gauge being changed the whole business would
| come to Augusta, with all the additional business
| of the extension. is not this demonstration
| from facts that the new enterprise would pay at
least fire per cent. on the investment The threat
| that the Maine Central would buy up the Somer-
| set road, will alarm no one. The city could not
be compelled TO pay dollar, under the very terms
OF the proposition until a GUARANTEE for connec-
ton between the two roads had been obtained.
| The road paying per cent on the cost, no
mans tax would be IN any way affected by the loan.
| BEAR IN MIND, that the city is not asked to loan
money to be expended by strangers; but by TAX
ing three fourtbs of the stock the city will itself
be the company which will buitd and control the
road and cannot be compelled TO take any action
| adverse to its own interests. Not dollar would
| be expended until guaranty had been obtained
satisfactory to the City Council, that the road
| would be completed and placed IN running order
without further aid from Augusta. THIS method
Of "ading in the construction of the road" is
pronounced by some of the best basiness men in
| the community, best and safest for the city, and
most feasible for the enterprise. You may loan
your neghbol 81 500 to aid him in building mill
costing $40 600, and secure yourself in two ways
First. You may take mortgage the whole
mill and allow him to control it and it for his
own interest. Second. You may take an absolute
deed Of three fourths of 1t, and control the whuls
of it and run IT ior your interest instead of his
| Is not the guaranty IN the latter case good as
in the former This latter Is precisely the guar
anty which the city would have Tor It's loan in thi,
enterprise. The guaranty is IN its own hands.
The propositions briefly stated are these
lst. Fifty thousand dollars shall be raised by
private b0ud tide subscriptions.
I'd. The Somerset road shall change its gauge
10 conform to the gauge of this road.
UutIl these conditions are fulfilled to the salts
faction of the city not one dollar can will b,
drawn from its treasury.
3D. 1t is proved beyond doubt that the busi
ness OF the narrow gauge line measured by tina
now passing over the Somerset section, Will pa,
at least five per cent. on the whole cost of the
road, and no mans tax will be affected by thu
loan.
4th. The city aids in the construction as pro