The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-11-09
TO BE MoRTGAGED.
FINANCIAL CONDITION OF THE PROVIDENCE AND
WORCESTER RALRoAD-wHo DEMAND FREE
RIDES, AND WHY.


WORCESTER RAILRoAD-wHo DEMAND FREE
RIDES, AND WHY.
lBY TELEGRAPH TO THE HERALD.
PRovIDExcE. Nov. 8, 1877.
special meeting OF tho stockholders OF the Provi-
dence and Worcester Railroad was held to-day, the
object OF tho meeting being to decide whether mort
gage OF the companys railroad property should DO
made, as recommended by the directors II was
very stormy meeting. The President, Hon. William
Slater Of this CITY, stated that tho Indebtedness OF
tho road at the present $192S, 00o The fol-
loving preamble and resolution was adopted
Whereas tho Board OF Directors Of the Providence and
ss s 20 s
mortgage OF the railroad franchises ana
Of sse o y twenty U ns yaas rom October
h board I 81 s Sa SS
be executed such mortgage by said corporation
Long discussion followed, participated in by numer
GUS wherein tho affairs Of the road wero
pretty thoroughly ventilated. The gst Of discussion
was that tho road not In remarkably good con-
dition that the dividends were not satisfactory 10
the stockhodcr II managed economically tho road
would pay largo dividends Tho debt now IL less than
last year.
WAR ON DsADREADs
Mr. E. B. Stoddard, OF Worcester, created scnsa-
ton by referring to the demands mado upon tho road
Tor passes. He said that tho granting OF passes
had bee materially stopped on this road. and IT viii
be further stopped the coming January. But you
would be surprised who are perfectly able
to pay and the way In which they gel rce pass.
or say everything and talk against the Ioad
great reason Tor all tins talk IS because
some OF the lTeo passes have bcen withheld when
men thought they had right TO- Ihere are several
clnsses OF men VINO passes; for instance,
members Of tho Legislature. ihnt RUE applies ~
Massachusetts as well US IN Rhode Island. ihcy nave
to have them You can't get along where othcr ROADS
give them unless you give them. Then there IS an
other class tho policemen have 10 have Tree passes
/ he press demanus them; they always have them on
every road. Then arc class OF men, Tor IN
stance, tho cattle men who come over your trains.
Here Is man who comes from the North with cattle.
lie says, II want a pass on your roadn You refuse
him he takes his freight elsewhere II you want
10 stand up and do as inc Albany road has
done and Say you won't give Them, why they turn
their ireights the other way
COMPLIMENTARY PASSES
Tho worst thing / complain VI Is the giving OF
friendly passes. Those she uld DO stopped, and y IS
only the last three or four months that have
gwen to the agent o this road that no
should nave II stopped entirely. (App.ausc.) am
gong have II stopped, II not wiil resign as d.
thing .ha. is done herc but the directors
have been honest In thor management and tncy IN
tend to be. do not suppose, excepting myself, that
chusetts better for directors than who are
this Board to-day. But they have thor own busi-
tail OF this road. But tho road wants DO looked
into by somebody. and II has got 10 be-
WHY IT SHOULD MogTGAGED.
IL ia recommended by the Board OF Directors, who
are the best nnaucers IN the Slaie, that this road
should be bonued aud nope II Win be done. hope
IL won't be delayed los anybody. l opposed
to new STOCK, because would be issued 10 SUCH SUI ali
value the road would lose very much. | for one
point any 10 investigate affairs OF this
foau l think they will bear investigation, and
would like 10 nave done ~ ss to satisfy the stock
holders. ~
QUKkY BY A SToCkHoLDER--Why not stop those froo
passes now? -
Mr.. SroDpAmp-Whero q free pass has boon gwen
for the year you can't stop II. have made myself
disaarecaDs about It, but am dong the ossl can.
TICKETS LEGISLATORS.
Or. WHiTNKY-Won', you give Us the philosophy OF
free passes 10 the Legislature?
Nh SropDAmD-It is a verv bad practice which has
grown up, ana which, thlnk, ought 10 DO abandoned
| by everybody. have been in Tho Legislature IND
have tree pass, and was going again should
refuse Que. They tried to pass laws III Massachusetts
That they shouldn't accept Tree passes, but they
couldn't DO It III the world They demand II Of you.
In 1873 The Boston Albany road refused passes,
and in than three days there were nitecn orders
put the Legislature TO investigate that road Tho
number OF passes on this road has been reduced
HUMAN NATURE IN YAxKgE NEWSPAPERS
QuEnY-Wnat claim has tho press What claim has
Mr. sroDpARD-Weli, sir, tho first thing unless you
grant a newspaper man free pass tho very next
article he writes viii BIO against your road They Will
i down your stock.
tho In such way mat thoy COULDN'T damage
DUTIES or A HALLWAY PRESIDENT.
Several OF the Directors we're dispensed with the
idea oil tho President going ABOUT recurring On temper
ance He was paid to DO their work, and no should
not work for tho prohibition or any other cause.
Others thought that II bettcl that he
preach temperance and live up 10 Tho theory, than
TO spend his drinking wniskey, but they were
their opinion that all hs time, as ne was
paid Tor it, should DO devoted to the interests Of tho
road whose earnings per month had dwindied rom
$4,000 per month 10 about SIC, 0O0 or $4,000
AT me conclusion oil tue meeting The President re-
marked that had president OF the road Ave
years and dufing that time had had thousands AMI
thousands applications tor FREQ passes, but never
am ant Waer vau
cries OF "Hcar ~ "HcAr!n