The Portland daily press., 1882-12-16
is THE EASTERN TO BE LEASED ?
Views of President Lord of the Boston
and Maine.

President George @. Lord of the Boston and
Maine Railroad was found in his Office Thurs
day afternoon by a representative of the Bos-
ton Advertiser, who asked him what, in his
opinion, are the prospects of consolidating the
Eastern Railroad with the Boston and Maine,
in view OF the election of new board of di-
reciors by the former road reported to be fav-
orable TO tne project. Mr.. Lord in effect re-
piled: Il have not r ceived any official IN ior
nation bearing on the subject, and have had
had no conversation with any member of the
board OF directors OF the Eastern Railroad
since theSlecuon. did have some CONVERSE
tion day or two previous, however, with one
OF two OF those gentlemen, and l und. rstood
that board of directors wor Id be chosen fav-
orable to lease of that road to the Boston and
Maine, provided that satisfactory terms Can
be made. Our board is in favor Of leasing the
Eastern, providing we can secure it the
terms which we would feel justified in offer
ing. As understand the situation, the direc-
tors of both roads are favorable to the same
result, each board putting in the proviso that
the terms shall be satisfactory stThen it vir-
tually comes TO question of terms?" was sug-
gested, Yes; IL is now pretty nearly ques-
tion'of terms. Ii we can get the Eastern on
our terms we are ready 10 lease it; If the terms
are satisfactory to them, the Eastern directors
will no doubt be ready to accept" "Possibly
the Boston and Maine would not be disposed
to offer very large terms, in consideration of
the difference in the financial condition of
the two roads" was next suggested "Wel,
the condition of the Eastern has improved coh-
siderably in the past year or two,'' said Mr..
Lord II cannot say definitely at this
time what terms we might feel JUS
tined in offering or they in accepting.
No conference having been held, we
are as far apart as we were six months
ago on that point. think itsssate to say, how
ever, that the Boston 81 Maine would not con-
sent to pay any dividends on the stock of the
Eastern above what may be earned in excess of
our present dividends; in other words, that we
would not take any part of our present earnings
to pay dividends on the Eastern Railroad
stock" What would be the position of the
Maine Central in the event of a lease of the
Eastern? understand the Eastern Railroad
controls the stock of that road was next
asked. Yes; the Eastern Railroad as COR
poration owns more than one-Lalf the number
OF shares of the Maine Central stock, and thus
controls 1t absolutely In all the talk which
has been had on the prof. ct of consolidation it
has been understood that the ownership of this
stock would go with the rest of the property of
the Eastern, and we should lease it the same
as any other property. don't think our di-
rectors would consent to any other arrange
ment. OF course, the question of operating it
is another thing and would be subj ct for fu-
ture deliDeration. / think very likely that it
would be operated the same as at present.
infer from hat you said few moments ago,
that no definite time has been set for confer
ence between your board and that of the East
ern.' mo; no definite time. Such confer
ence will no doubt be held very soon, how
ever"
Talk and speculation about the proposed
union OF the present rivals for Eastern busi-
ness are quite general. 1t seems to be general
Is cor ceded that the prospect for lease of the
Eastern is better than ever before, aud that it
may soon be an accomplished fact 1t is said
that the whole control of the Eastern stock, by
the resuleBf Wednesdays election, is now in
the hands of Messrs. Houghton (representing
Mf T. L. Weeks) and Law renee, both of whom
are declared 10 be pronounced advocates of the
lease to the Boston & Maine.