The Portland daily press., 1882-08-02
RAILROAD NOTES.
and Canada Railway by the Maine
Central R. R. Company.

The other day the telegraph announced the
leasing of the European and North American
and New Brunswick and Canada Railways by
the Maine Central and later the PRESS made
contradiction of the announcement on tho
authority of the officers here.
The st. Andrews Pilot says "The facts, as
near as we can ascertain, are that the Maine
Central Company have made an offer for the
purchase of the N. B. and @. r. r., which is
under consideration of the directors, and un-
less the syndicate are prepared in fixed time
to give higher price the N. b. and y
will PASS into the hands of the Maine Central.
The employees of the N. B. and G. r. are busl'
ly engaged in taking account of stock.
The Bangor Commercial of Monday says;
The syndicate in whose hands is the New
Brunswick and Canada Railway, is made up
of f. H. Todd, Henry Osborne and Merchle 9 q
Son of st. Stephen, L, A. Pike of Calais,
George B. Page and the j. c. Madigan estate,
of Houlton. 1t is doubtful about there being
competition between the Maine Central X. H.
Co. and the New Brunswick Railway Co. for
the control of the New Brunswick and Canada
r. r. The Maine Central Co. have an unex-
pired bond for a lease of the O. aud N. B. II.
and doubtless it will be accepted, unless some
of the large and conservative owners object too
strongly on the ground of having connecting
road out of the country. Beside this there are
some legal difficulties, but it is thought that
the Dominion government would grant the
necessary legislation. The G. & n. 3. r.,
with it's branches has one hundred and tweR-
ty-four miles of road connecting with the II.
& N. A. Railway sat Vanceboro for st. AM
drews, st. Stephens, Calais, Houton and
Woodstock, and at McAdam junction with
the st. John and Maine Railway.
This railway was purchased by the present
syndicate at a great reduction from first cest,
and during the last few years quite an amount
of steel rails have been laid, and other inn
provements made. The business has largely
increased during the past two or three years. 1t
is said that the syndicate are, if the road is
leased, to receive five per cent. interest on a
valuation of about ten thousand dollars per
mile.
The New Bruns wick Railway Go. will have
a meeting at Fredericton, Wednesday. and
doubtless this matter of eastern connections
will come before the meeting.
The Bangor Commercial Saturday says:
The report that the M. c. Railroad has
leased the e. s. N. A. Railway is little
premature, but in all probability the e. & N.
A. R., will within short time, be under the
control Of the M. G. R. r. The proposition
that the e. & N. A. Railway company have
made is that the M. @. r.. R. pay all taxes,
take all the property OF the company including
the wild lands, assume all liabilities OF tho II.
& N. A. Railway company and pay per cent.
interest on the e. & N. A. stock Among the
larger owners of the E. & N. A. stock resident
of Bangor are S. FL. Blake, Charles Stetson,
Charles p. StetSon, L. A. Wilson, L. j.
Stewart N. G. Aver, and S. & j. Adams. The
first mortgage of 81 900 is to the city Of
Bangor on the road from Bangor to Malta
wamkeag. The second mortgage OF $2,0O0,-
900 was from Bangor to Mattawam keag and
then from Mattawamkeag to Vanceboro. The
accrued interest on these bonds at the time
they came into possession by the act OF fore
closure amounted to about S500,OO0. which
with the principal was made into stock, maxi
ing the Indebtedness on the road 81 900, 900 of
first mortgage per cent bonds TO the city OF
Bangor and So, 900 of stock ON which the
nj. 9. e. r. may pay per cent. and the $780,
600 interest each year to the city of Bangor. 1t
is thought that assets of the i. & N. A. Room
pany, such as their timber lands, &C., will be
sufficient to take care of the other obligations
and liabilities assumed by the M. Q. company.
Something more than half of the road is fur
nished with steel rails and every year the road
has shown large business. The prospects of
new business from the large pulp mills now
being built, and the large business that is GER
tain TO come from the development OF the
water power at Oldtown, together with the
growth of the agricultural and laundering in
terestS in Aroostook county which is Already
turning an immense amount OF business 0y the
New Brunswick and N. 3. and Canada rail-
road, will show within short time that the
managers of the M. G. b. r. have higher ap-
probation of the valne of this road than the
present owners of the stock.
The st. John Sun of Monday has an edito-
rial expressing it's belief in the rumored leases,
saying that while the papers have not been
made out there is no doubt an agreement has
been actually effected. 1t further says:
1t is understood that the New Brunswick
Railway people have been anxious to purchase
the New Brunswick and Canada and on
Thursday last President Jackson of tho Maine
Central. and Messrs. Therne (New York, Isaac
Burpee and e. r. Burpee, representing the
New Brunswick railway, were at St. An
drews, presumably in connection with this pur-
chase. 1t is rumored with what degree of
correctness we do not kDoW) that the Bruins
wick Railway will In some way share in this
purchase of the New Brunswick and Canada
Mr.. jackson, president Of the Maine Gen.
trail, states the article in the Bangor CONNER
cial is very nearly correct. The propositions
have been made to the Maine Central by the
European and North American and Canada
and NewBrunswick roads but not yet acted on
by the Maine Central.
The Bridgton & Saco Valley Marrow
Gauge.
Can't. Newcomb, roadmaster Of the Portland
& Ogdensburg, Monday, put in siding on
their line near Hiram, short distance below
the iron railroad bridge, in order TO facilitate
the work of construction Of the now narrow
gauge line between that point and Bridgton,
1t is expected that the narrow gauge line win
be completed by Dec. 1st.
Minor Notes.
We hear it stated that the Boston and Maine
have purch assd the land on which Browns
old sugar house-now being. .removed-stands,
and will erect fine station thereon.
This annual meeting of the Atlantic and St.
Lawrence Railway Company was adjourned