The Portland daily press., 1883-10-02
MANAGER HICKsON's LETTER.

they shall deem just and proper in the premises.
MANAGER HIcKsoN's LETTER.
MONTREAL, July 26, 1888,
Dear SRI have very carefully considered
the position of the questions which have arisen
in regard to the sinking fund established for
the payment of the advances made by the city
of Portland to the Atlantic and st. Lawrence
Railway Company. After our discussion to-
day need not enter into details. 1t is suffi-
Gent for the purposes OF this letter to say that
there is about $3.50 900 in the Casco Bank at
Portland, subject to the order OF this Compa-
ny, which is part of sum paid to the commits
sloners OF the sinking fund for the redemption
OF the debt, and which payment was made by
the company under legal advice.
lt Will not serve any practical purpose to
enter into the merits of the questions involved
In the recent litigation. The company were
advised that they were exercising legal right
IN making the payment. The Supreme Court
OF the state has held differently, and the COM
pany have only acquiesed in that decision.
am quite certain that the city authorities
taken place, to aid the company in making the
best OF the situation and accomplishing the re-
demption OF the debt ON the least onerous
terms.
With this end in view, the company desire
mat you shall confer with the City Govern
ment, asking them to assent to the company
placing, say with the City Treasui er, bonds of
the Cnicago and Grand Trunk Railway Com
pany Tor an amount which shall be equal with
the funds In the hands of the Commissioners
at Portland, to the total amount of the debt,
and to relieve the company from the payment
OF the semi-annual contributions to the sink
ing fund
VI course the company will undertake that
the interest payable to the city is met as it ma
lures, and they will also guarantee the city
against any loss arising ont of this transaction.
Inc company has funds available at this
time to carry out the arrangement have re-
ferred to, and If carried out it will result in
these advances carrying an amount of interest
equal to the interest on corresponding amount
of the city debt.
secured already by mortgages upon the prop
erty OF the Atlantic and st. Lawrence Railway
Company, and that the proposal now made will
In no way effect the obligations of the company
to the city as they exist in the agreement and
legislation on the subject, but will practically
constitute an additional security, inasmuch as
1t provides for the payment in advance of the
semi-annual contributions to the sinking fund.
Yours truly,
J. HIcKsoN, General Manager.
To Hon. A.. A. Strout, Portland.
The matter was referred to the committee on
finance.
In Common Council.
Absent, Messrs. Smith and Jordan Papers
from the upper board received concurrent &C.
tion.
PORTLAND & oGDENsBURG.
Mr.. Noyes offered the following order:
Ordered, The board of Mayor and Aldermen
concurring, that the informal communication
of William l.. Putnam, relative to the Port
land & Ogdensburg Railroad Company. be re-
ferred to joint special committee consisting
OF the Mayor, chairman of the board of alder
men, president Of the common council. and
such other members of this board as the pres-
dent shall designate, with such as the alder
men may join, which committee is authorized
70 receive, consider and investigate all PROPOSE
tons for the lease or sale of the Portland &
Ogoensburg railroad, or of the cty's interest
therein, investigate all facts relating thereto
and report to the Council such orders contracts
or leases, or in such other way as such commit
tee may deem proper for action of the Council
thereon.
The order originally read COMMITTEES of six,
but was amended by Mr. Fogg, without obiec-
ton from Mr. Noyes, so that the president
could appoint as many as he pleased The or
der was passed and sent up, and Messrs. Tur-
ner, Wilson, McAleney, Fogg, Mari and Moves
appointed on the part of this board. The al
dermen, by appointment of the mayor, Joined
their full board.
A communication from Nathan g. H. B.
Cleaves, in reference to the Ogdensburg rail-
road, will be found in the proceedings of the
aldermen, and was referred in. concurrence
THE CHESTNUT STREET scHooLHoUsE.
When the order appropriating SIS, 100 addi-
tional for the Chestnut street schoolhouse had
been read, Nj Mari called for light on the
subject from the committee
Mr.. Prince said that at former meeting he
was asked If he thought the sum of $1,000,
then asked for, would complete. the building.
He said he did not. lie was told it would take
about S. 300 to $500, and that sum did not
include the steam heating. He claimed it was
an impossibility for any one to take a building
at its foundation tear it inside out and then
tell accurately what it will cost to
repair it, or rather make what is
virtually new building of it. He
claimed the committee had tried to do the
work for the city as economically as possible
and at the same time make their work
thorough. He thought the job had been done
as cheap as it could have been done by, con-
tract.
Mr.. Turner asked how it happened the
figures were changed from $4,70O before the
committee to $500 before the Council
Mr.. Prince said he thought the gentleman
knew the difference was caused by the archi-
tect's bill, which had come in since.
Mr. Kelsey asked if the bills were all in.
Mr.. Prince responded affirm atiyely.
Mr.. Fogg asked if the same price had been
paid the masons and carpenters as are paid by
private parties.
Mr.. Prince replied they had been paid % per
cent. less.
Mr.. Mari asked if there was any bill for
overseeing the work besides that of the archi-
teet.
Mr. Prince said it was understood in the
committee he was to be paid for superintend-
ing the job, but he hadn't sept in any bill and
shouldn't receive a cent.
Mr.. Mari then said he thought the expendi-
ture of $4, 200, before the passage of an order
appropriating such money was in defiance of
the ordinances and should be discountenanced
This bill was for a school-house for our children
and therefore he should vote for the order, but
the fact that this expenditure was for a school,
house did not do away with the irregularity of
this expenditure.
Mr.. Turner, from the committee, then called
"StSAeAoa w eAO AaSb tAdb WAOa uO dcSolbdtu6u
the committee was going ahead to repair the
school-house in advance of the appropriation
and he learned that such action was in viola
ton OF the ordinances, that he had special
meeting of the City Council called SO that
he could be set right. He had no doubt
that Mr.. Prince had superintendent an excel
lent job, and, while he didn't think the com
mittee in the beginning had any right to go on
and spend more money than was appropriated,
yet after the attention of the council was called
to the matter and they voted to permit the job
to proceed, be thought the bill should bs paid.
Mr.. Wilson thought very good job had
been done with the money.
Mr.. Mari didn't disput that fact. The ques-
tion was not whether good job had been done
for the money, but whether a committee
should spend money not appropriated in def
ance of the ordinances.
On motion of Mr.. Lappin the question was
put and the order passed, 10 yeas and no nays,
and was sent up.
OTHER MATTERS.
Mr.. Winchester offered an order for the
Treasurer to give S. Fl. Jose the deed to lot
of land on Gilman street.
The committee on the Ogdensburg was re-
quested to meet at the Mayors Office this morn