The Portland daily press., 1877-02-21
Brief .JOtfiuUs.
The Moraviap has arrival o,,+

| AACA SOtuuSss
| The Moravan has arrived ont.
The class of IA Bowdoin College, celebrate
their triennial at the next commencement.
The sidewalks are generally in good condi
| ton, but the crossings could be very much i'm.
proved.
A meeting of the Portland Women's Chris.
tan Association will be held at High street
Vestry this afternoon at o'clock.
The Board Of Mayor and Aldermen sent
man to the Insane Asylum at a special meet
ing held yesterday.
Remember the masquerade ball to be given
by the Mechanic Blues at City Hall tomorrow
evening.
AT meeting of the Portland Light Infantry
last evening resolutions of respect to the late
Henry D. Todd were adopted.
The members of the P. H. S. class of 76 are
reminded of class meeting at Army & Navy
Hall this evening
The members of the Cumberland engine
company celebrated their anniversary with a
supper, speeches, etc, last evening.
A subscriber wishes it understood that he
believes in the sea serpent and he finds reason
for that belief in the 9th chapter of the book of
Amos.
The Knightville Temperance Reform Club
hold public meeting in Sinnett's Hall,
Knightville, Thursday evening. Speaking by
the members of the Portland and Ferry Village
clubs, and also by gentlemen from abroad.
Portland, Bangor and Machias sieam
boat Company.
A special meeting of the stoekh olders
of the Portland, Bangor & Machias
Steamboat Company was held yesterday
morning at the office of the company. There
was large attendance and much interest was
manifested in the affairs of the corporation.
President Milliken presided and opened the
meeting by reading the call for the meeting.
The first question before the meeting was,
what shall be done to provide for the COM
pany's Indebtedness"
The Treasurer, Mr.. Walker, said the actu al
Indebtedness was abont $41, 900. To get ready
the boats for the coming season will cost about
$4,000 moro. This Indebtedness is in notes
given by the Treasurer, aud floating debts.
Mr.. Walker said it was hardly necessary for
him to dwell upon the necessity of continuing
the business to Portland For the first ten
years the company divided 40 per cent on its
capital, put two boilers into it's steamers, and
was free from debt. Since then they have run
IN debt, but the debt represented by assets
amounts to between $4,000 and $4,000. This
includes the Deer Island wharf, coal on hand,
and steamer Charles HoughtoD. The steamers
Lewiston and Richmond, and two other
wharves, represent the $25O,OOO of capital. The
unpaid bills foot up to $500. The outstanding
notes amount to about $4,000.
MI. Green asked what the Charles Houghton
cost and was answered $12, 500. He then asked
if she had paid expenses the past summer.
The answer was, she had not. Mr.. Green
thought she had better be sold. The clerk said
that all told the Houghton had made loss of
about $4,000, or half of the indebtedness of
the company.
Mr.. Gushing, one of the trustees, complained
that the steamer was ever purchased, and the
Treasurer said the cost of provisioning the
steamers had advanced from $3.50 in 1872 to
$13,500 in 1876. Another complained that it
cost more to provision these steamers than it
does those of other lines
A question was asked if the directors re-
ceived any commission for endorsing the COM
pany's notes to the Casco Bank. Mr.. Walker
said no.
The clerk, Mr.. Day, stated that Capt. Stur-
divant's Indebtedness to the company was ST.
533.
President Milliken said that the bondsmen
of the late Treasurer were good and suff1-
cient
Mr.. Walker offered the following vote which
was adopted:
poted That this company, in order to pro-
vide for its Indebtedness, authorize and en-
power its President and Treasurer to make
series of company notes, running to trustees to
be appointed by the directors, not to exceed in
all the sum of $45, 900, on twelve months time,
and at a rate OF interest not to exceed per
cent, said notes to be uniform in ali respects
except amount And that the said President
and Treasurer be authorized and empowered to
convey mortgage on the steamboats, City of
Richmond, Lewiston and Charles Houghtou.
10 said trustees to guarantee the payment of :
said notes. and that the directors be authorized
to get said notes discounted at the lowest rates
possible, and that each note be certified by
said trustees as one of the above series of
notes.
The number Of shares represented was 1905,
of which S86 were in favor of the vote and 319
against.
The NEE ting the adjourned without acting
on the other articles in the call