The Portland daily press., 1883-08-24
THE M. G. R. R.
Report of the Committee.

AUGUSTA, Aug. 2S.-At meeting OF the
directors OF the Maine Central railroad this
afternoon the report OF subcommittee, raised
at recent meeting of the stockholders, to con-
fer with the directors of The Eastern and
p.,.o,, Q, MI. ...,...,u ....,
DV''on " N,''n0 iaii,oaos, was preseh'eu. i4
substance the proposition is as follows: Thai
the time has now arrived when If is advisable
for the roads 10 anter into an eopitabla tr;nla
~, 'Ao io"uS W oh.ei in'o an equi'aoio 'iipio
aiiiance as REGARDS tne general business OF the
roads, and that each road raise committee
empowered 10 oonsnmmate such an arrange-
t M, 4--. - 49,. ..-.--...,-.. r.
Meh'' 1ne 'eA' VI .no susses'ions ol 'he
Maine Central to the Eastern and Boston &
Maine and the reply thereto is as follows:
10 the otcerS Of the Eastern and Boston d.
Name IL. ~ CO.'S.
The undersigned, sub committee Of the
committee appointed by the stockholders of
the M. G. r. r.. Co., to confer with officers of
the Eastern and B. 81 M, and procure such
modification of the contract for the lease of
said corporation as may be essential for the
protection OF the interests of the Maine Gen.
trail and individual stockholders thereof We
represent that many stockholders OF the M. @.
Il. r.. Co. believe that the execution of said
lease would hazard their interests and the pub
lie interests of the State Of Maine, and they
therefore respectfully ask that the said con-
tract for O lease may be rescended,
Tho committee maka tho follow;ng br;af
summary Oh its sugges1ions.
First-That il said lease be carried into
effect, and the Maine Central Railroad Com
pany should be made party to the same and
have the same voice in relation to such of its
terms especially affecting the Maine Central
Railroad.
Second-The Maine Central Railroad Com
pany should be guaranteed proper repre-
Third-A practical upanimity to he snhst;-
tuted In the lA clause OF the lease for three
10Y, lourS1s ol vIe stocAnoiueis oi sne MAINE Gen.
.l .lai NaliIoau Sotep epany, ~ oluer 70 terminate
Tio 1 oA,opnE eSio ~ ooUlaoSo "a 'no tnaino
5 Oea'pa. p naiisoa9 = anu 'he Eastern
anu Dossoh Et S Maihe I'm ID ,alloaes' ai
TOY, = na. oue noston * malne naiIraau
shouIu guaTah.ee .ne co5tlacls G anu leases Oh
the MAINE Centrai haiiroao company ana tne
Paymens oi nAeu cnarnes' anu ALSO the same
i uIvlueDu a. leaS. 81 upon tne captai STOCK OF tne
Az taiio ~. Oohaiat uailoau oohpahy 'na' ID paio
w Thn re 49, Nnntsn1 p.,, c
Ing ualn1 Sensrai haliroau company en-
Joys sucn Vaiuaoie franchises from the State OF
Maine that ~c feel that the interested citizens
OF the state, particularly its manufacturers
and commercial interests, should not be ignored
ana we are conndent that the above stipula-
committee entertains sentiments Of the most
entire confidence IN the integrity and good
faith OF the Eastern and Boston q Maine rail-
roads, put ieel Obliged to guard against the US
ual and almost lnevlta Bile contingency of a
change in the personnel OF the boards of direc-
tors OF all the corporations,
All OF thich IS respectfully submitted,
+. A. WILSON,
W. G. DAVIS,
b.. Il. WEBB.
Committee.
The following is the reply of the maiorities
90, lo,so oo,,,,,;.,oo for +la Ia0+ou, D..
ioi -oa'0 IVA o'A0 11"''0An anu Dos'on
q MAINE faliroaos;
u the Conlnlittee of the Maine Central r. r..
The written communication rece;vad from,
yo,, ,ostar5av onJ aftarward d;scusseJ ;,h
Won has raccive5 onr carafpl cons;Sarot;an
Tha nronosition in naraoranh fonrteen
that the Boston & Maine sbouId onarantae
The contract and lease of tho Maine Central
Cnmnsnv and tba navment of it's f;yad cbargeS
and the same fividends nnon The stool as ara
now maid nnor, the st6ck Of the Ro.ton Z,
Maine Railroad. necessarily involves a com.
nlete concentration Of The two comnanies eithar
bv q lease or a cornorate nnion The resnIt
which, however, is desirable and likely to come
in the near future is impracticable at present
for this conclusive reason among Others, that
isrequires the sanction of the Legislature in
one and probably several States. The PROPOSE
tion in Paragraph V is that the Maine Central
be guaranteed representation on the boards
of directors of the Boston & Maine and East
ern Railroads.
There remain to be considered the suggestions
embodied in paragraph l and 8 of your COM
munication There were urged as important
to the Maine Central railroad that it might be
assured of continuance of the present rela-
tions to the Boston & Maine and Eastern
railroads, and tnat it might have in its own
hands on adequate legal remedy if there
should be any attempt to disturb these rela-
tions. Upon these suggestions we desire TO oo-
serve &c tnat "a making lease tne parties @ y TO
u han IN mlno tns interests OF 1he M. y. n: II.
aad and thonnht tbev bad Jnna CO bv art;oio 81
the lease. There can be no objection however
further