The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1882-12-15
PRESIDENT JACKSON.
What the Boston Press Say of Him, and
of the Proposed Lease of the Eastern to
the Boston and Maine.


Speaking of the new president of the East
ern road, and the probable consolidation of
that road and the Boston and Maine, the Bos-
ton Advertiser says:
''Mr. Jackson is the president of the Maine
Central Railroad, having his headquarters at
Portland, and is railroad man Of experience
and reputed ability. 1t is generally believed
that the new board of directors is unit in
favor of consolidation with the Boston and
Maine. A prominent vfficer of the road stated
yesterday that while it is impossible as yet to
predict certainly the course of the new board,
he believed that its members Will give their
best endeavors to promoting union of the
Eastern and Boston and Maine on an honora-
able and profitable basis. The election of
President Jackson would also seem to give
plausible color to the belief that the union may
also include the NAM Central, which would
certainly make verv strong through line'
The Boston Herald says:
sit is understood that as a result of yester-
days election of Eastern Railroad officers, all
opposition to a lease of that road by the Bos-
ton and Maine corporation is neutralzed, so
far as the Eastern is concerned. The members
of the new board of directors, representing both
the bondholders and the stockholders, are now
a unit upon this subject, SO far as the proprie-
ty and desirability of lease are concerned,
whatever differences may arise when the mat
ter of terms is presented. It is understood al
so that majority or controlling interest of the
the stock is also represented in the person of
two members of the board-Gen. Lawrence,
holder of 10000 shares, and Mr.. Houghton,
understood to represent eAir. Weeks, who is
said to control is 900 shares the total of shares
of Eastern being $4,000. Consequently. in any
decisions OF the board requiring the ratifca-
tion by the stock, the desired action may be
had at once, if the two directors above named
way 81 81 fsassbb assbbs8 u heemain in tbe
the Boston and Maine, since the Legislature
II.
sion for the transaction? 1t remains that the
Boston and Maine and Eastern directors shall
be able to agree upon terms and specifications;
that the stockholders of the Boston and Maine
shall ratify such possible agreement; that the
Legislatures of New Hampshire and Maine
shall grant permission in accordance with that
already given by Massachusetts,; that the hue
and cry to be raised by the public over
the joining Of two parallel lines,
ard the consequent destruction of the benefits
of competition, be overcome or nullified, and
that several other perplexiug considerations be
satisfactorily adjusted. A glance at these
bars TO uui IN between the parties reveal that
the bans will not be copsummated immediate
ly, if at ALL"
The Journal remarks:
"The new President of the Eastern has for
several years past filed very acceptably the
same position upon the Maine Central and
| now, therefore, presides over line of roads
| reaching from Boston to the New Brunswick
| line. The new selection is considered very
| desirable one, since it is believed that Presi-
| dent jackson is in hearty accord with the
| methods and management which have brought
| the Eastern up to its present high standard o
| excellence, and that he will do much to sus
| tain and add to the public confidence IN the
| road and its future is confidently believed
| There is variety of views as to the bearing
the new election will have upon the proposed
| lease to the Boston and Maine of the Eastern
| We understand that this question stands just
| about the same now as before. If terms salts
| factory to all parties can be agreed upon. there
will be no trouble in effecting the lease. We
| have little confidence, however, that terms
mutually acceptable to all the conflicting in
terests can be arrived at, and, If as is reported
| an important movement is under way upoI
| the part of the stockholders of the Boston an(
| Maine against any lease of the Eastern, upol
| the ground principally that the latter is tot
| willing to make the trade, the prospect of
| union of the roads is poor one. Lease or n,
| lease, we see no reason Why both roads hav
not prosperous future before them. Operate,
together there would of course be some con
siderable economy, not so much so, however
| as is generally estimated, and even ii the next
move results in consolidation of the Easfer
and Maine Central, the Boston and Maine
future will receive little harm thereby, as ther
| is q field to the eastward of the Hub sufficient
ly large for both of the companies, If wisdom
is one OF the elements in their future manage
! ment"