The Republican journal., 1881-07-14

y bundle of hay fell on Capt Charles I. Gilmore
who was working in the hold of sch Fannie A.
Gorham, at Lewis wharf Tuesday, iniuring him
| quite severely.
| Inc evenings the past week, have been very fay
orahle for boating. The moon was large, the eve
nings upon the water COOL and the harbor has beer
| alive with rowing parties
At meeting of the directors of the Belfast and
| Moosehead Lake r. II. Co. on Friday of last week
the following corporation officers were elected
| Chas. b. Hazeltine, President; Asa Famce, Treas
urer, and John H. Quimby Clerk
| Three Italian musicians have been about Oul
| streets the past week. discOursng some very fine
music. number of concerts in front of some OF
| our best houses, have been very enjoyable. 1t is
seldom that such fine musicians travel this way
Belfast captains AT Jacksonville write home very
discouragingly concerning the bar at the mouth of
the st. Johns river. Some of our vessels have been
| laying inside the bar for two weeks, unable to get
over from the lack Of sufficient water. The writer
says that he thinks when the iettieS are built there
may be more water, but is Of the opinion that their
unfinished condition is the cause the present bad
| state of the bar
| The remains of Mr.. Albion p. Cain, formerly of
| Belfast, We're buried from the Methodist church, in
| this city, on Thursday afternoon of last week.
| Waldo Lodge |. O. q. f., escorted the remains to
| the grave, performing the services of the order
there. The procession was large and made very
| handsome appearance. The sermon 1T the church
| by Rev. Mr.. Gerrish, former pastor was coq uent
and appropriate. Mr.. Cain was u: member of the
| odd Fellows relief association, which pays $500
| on the death of member
| Ia ali
made their annual excursion on steamer May
! Queen on Thursday last. Ii was intended to spend
the day at Dicc4 Head, Castine but the day being
50 pleasant, The company desired to pass larger
amount of time on the water. The first landing was
made at Fletchers landing. Iseshoro where the
picnic dinner eaten. From thence the company
crossed over to Goss Falls and explored the copper
mines. On the return trip short call made at
Dire's Head where a sail up the Bagaduce river. at
the head waters Of navigation, WAS enjoyed by all
The Univcrsali-t society made their annual ex
cnrsion t" Dice's Head ON Friday of last week.
passing Il very pleasant day. In the afternoon,
party of gentlemen went over, returning in The eve
ing With the first excursion, on steamer Nav Queen
1.-The excursion of the Unitarian society a,Ivcr
tsci to take place on Wednesday WAS postponed to
next week, on account of rain Yesterday morning
their annual excursion to-day to Brook~ville ON
steamer May Queen. This Thursday evening the
Grand Lodge Of Maine, l. o. o. f., accompanied ly
Waldo Lodge and Aurora Degree Lodge u. Of H.,
Of this city will goto Castine for the purpose OF in
shutting Il subordinate lodge in that town The
May Queen will leave about o'clock, stopping at
Searsport where Sears Lodge and the band will he
taken on board.
MAckEREL FISHING. some mention WAS made
last week concerning the mackerel fishing in our
bay and harh1r. The Industry, for such it has be
come, deserves a more extended notice. Whether
or not the fish have always been plentiful in our
bay we are unable to say, but for the want OF a
market only enough for nome consumption have
been taken until within year two. The enter
prising fish firm of Collins 4 sleeper has done
and are doing much b. create 4 market and to make
it object for ont local fishermen to prosecute this
business. p To saturday might last, the first week
fishing, this firm had purchased and shipped away
one hundred barrels of machcre All caught in Bel
fast Bay. The entras are removed, and the fish
packed in barrels with alternate layers of pounded
ice. Thus packed they remain good for long time,
coming out hard and fresh. The fish are shpped
To Lewiston, Augusta, Watrryille Dexter, Bangor,
and all points along the railroad Recently Collins
u sleeper have CONTRACTED with the Ca9tne Packing
Co. FIR all the fish they can buy, thus cn-tring for
our iishermena sure nircady market. Thecttcher
has but little trouble with h~ fish, selling them at
much hun'lred lust they taken from the,
water. Last week fishermen made is high as s.
per day, many averaging 81 for their weeks work
If the fish remain the whole season, rs they have
done for several years past it will make lucrative
business and thousands of dollars will be iisbursed
to seek employment abroad ON Monday and Tues
day of the present week hc irn bought fifty five
barrels The fishermen have Increased 10 about
one hundred in i.tmbel.
CITY GOVERNMENT MEETING. At a meeting of
the city government last week, the following re4o-
lutions were introduced by Alderman Johnson, and
motion of the same gentleman tabled until next
regular meeting
Whereas, sec. - of the charter of the Belfast
AMI Moosehead Lake Railroad Company provides,
"That the corporation shall have authority to issue
preferred ami non preferred stock upon such
terms aud conditions, and 10 such persons and cor
puration, and with such Limitations and restrictions
a. may be deemed most ior the interest of the sub
Scribcrs, the success OF the corporation and the
completion of the road And
Whereas, From the foregoing il Is evident that
neither n0n-lrcferrc'i preferred Stockholders in
said corporation have or ever had amy preferred
rights, OF amy exemption from liability or privilege
have been guaranteed to them respectively. by Il
vote of, or by special agreement with the corpora
lion; and
Whereas, The records of the corporation show
no vote guaranteeing to either class of stockholders
any rights whatever nor any special agreement with
either class comforting exemption from cooperative
liabilities, or other privilege, agreed rights of
any kind, except such a. were conferred in common
under the terms and conditions of the subscription
contract; and
Whereas, The only privilege originally conferred
upon the preferred stock consisted in priority of
right to dividends up to six per cent per annum to
be declared from the net earnings of the road SUD
iect to the avoWed intention, that "no mortgage or
other encumbrance" should cvcrb placed thereon;
and
Whereas, Said priv ilege was conferred by and
rested entirely upon the 18th bylaw precisely the
same did the rights to dividends of the non-pre
ferred stock; and
Whereas, BY Il change of said 18th bylaw agree
ably to the provision therefor the dividends of both
classes of stockholders underlt, may be- and should
be equltably reduced, or withheld altogether, TO
meet any liability of the corporation not chargeable
| to the running expenses of the road; and
Whereas, The present Indebtedness of the cor
| poratlon was contracted to furnish means for the
completion Of the road originally, and in order to
save a contract for desirable lease thereof, which
could be saved i'll no other way; and was contract
| Ell Jy the mutual consent of both classes of its
Stockholders, and by waiver OF their common
agreed rights against mortgage or other encum-
| hrance beng placed upon the road therefore
Resolved, That by such mutual consent, and
waiver Of their common agreed rights, for their
common benefit, both classes of stockholders i'll
CURED legally and cquitably identical obligations
to pay said Indebtedness principal and interest.
Resolved, That the amendment of the 18th by
law, by which the preferred stock has been exempt
from the burden Of interest said Indebtedness is
favor to the holders thereof which they were not
originally entitled to- as has been shown from the
charter, subscription contract, bylaws and records
of the corporations that at the time and to the
same extent, said amendment Is an impairment of
the rights of the non-preferred stock, upon which
is thrown the burden of interest from which the
preferred stock is thereby exempted.
Resolved, That the sinking fund, so-called as es-
Ia La far ma nf
pal of said Indebtedness, is likewise favor to the
preferred stock at the expense of the preferred,
as is shown by the accompanying tabulation of an
nual results, for the seventeen years required I'M
der it for the eNtingGishment of said principal, of
| which there IS laid upon the preferred stock but
half the sum per share that is placed upon the non
preferred stock; and
| Whereas, 1t is further shown by the accompany
| ing taDnlation of annual results, that under the
| combined operation of the amendment Of the 18th
bylaw and the provisions of the sinking fund above
mentioned, the total contributions of the preferred
stock to the Indebtedness of the corporation amounts
| to only S24 share, and that during the same