Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1878-12-17

"A Good IlUestneHt.
TO the Editors of the LetDiStOn Journal
| desire TO call the attention OF yOUT
readers TO loan recently put on the
market 10y the Rumford Falls 81 Buck
field railroad, received OF The Portland
& Oxford Central railroad, as II oilers,
think, one OF The best opportunities Tor
safe investment now before the public.
The loan is authorized by tho Supreme
Court, and the earnings OF the road are
already more than sufficient to pay run
ming expenses and interest. large
steam mill is to DO erected at Canton
this season, and marked increase OF
business seems TO be assured.
The following extracts from a circular
of the Receiver. will show some ot the
grounds of this opinion.
/. The loan is authorized in plain and
unmistakable terms by public law OF
tho State, and by a decree OF It's highest
Court. Thus DO question remains rs to
the validity and binding force.
2. The trust is under the constant
supervision OF the Supreme Judicial
Court. Should there be any nes.ccl 10
pay the interest or principal, or be any
Encouragement oil tho trust, 1t would
DO within the power and duty OF tho
Court TO interpose. on the app icatloa Vi
Il person holding any Of tho certificates.
aud, ii any serious charge IS sustained
TO make a change in the Receivershlp' OF
adopt such other measures as might be
deemed necessary and eKpedIenI to Sc
cure it's proper and efficient manage
ment.
3. The loan is small in amount, being
limited to So2 900. or only $4,000 mile,
and no deot, title, mortgage or lien Of
any kind. whether created before or after
il, can disturb or affect it.
4. The track. bridges. stations and
rolling stock being substantially now
and first class, the repairs (accldenis OK
ceptod) should for some years to come
be tew and inexpensive. The cost OF
running and operating the road is excep-
ally small. And tho income since The
road was opened for business in july OF
this year. before the connections had
been completed. and while yet the lac,
chat il was doing business. had not be-
come generally known. has been so
largely in excess OF the running ex-
penses as TO demonstrate beyond any
DOUBT that lts net earnings Will, under
tny circumstances that can be toreseen
be very much more than adequate TO the
pay meut OF the interest upon these Ger
lihcates.
5. Not only ia the lien perfect, but
there is ~ floating debt to interfere with
pAyment OF the interest on tho loan, or
20 absorb any portion OF the earnings
from which such payment IS 10 be made.
For whatever may 30 due to repairing,
relurnshing and reopeniug tbs road IN
excess OF what may be obtained from
this loan, has been paid, or provided ior
by the Receiver Corporation.
The undersigned. President and Treas
urer of the Rumford Falls and Bucktieid
Railroad Company. by which, 80 Re
ceiyor. ,his road Is authorized to be made.
believing the foregoing statements 10 be
true. in behalf OF said Recover offer t.
investors tho certificates which have
been authorized TO be issued rs before
stated, IN confidence that no better OF
satcr Investment can DO made IN the Sc
curltios o. any Rairoadin Now England,
or elsewhere. In other words, they BE-
'ieve ,hom 10 be first class and uuques.
tionabic.
In respect ~ tha Decree OF the COur'
and its lega, authority, reference IS made
10 Hon Wm l. Putnam. and \. a.
Strout. Esq unior whose advice And
direction tbe proceedings have been
made. In respect TO ;ho road. bridges,
rolling stock. &C.. reference is had 10
Col. 4 W. Wudes end John F Ander-
son. aud G !. Talbot, E-qrS., Railroad
Commissioners oi me State. who have
personally isited and examined the
road; ana in regard To- the amount o
traffic upon The road and the cost OF ope.
rating il. reference j. made 10 5 I.
Corsor, E-q formerly Superintendent OF
the Portland Division OF the Grand Truns
Railway.
|. WAsHBURN. JR. President.