The Portland daily press., 1883-06-05
OF Arthur Noble for abatement of sewer as

OF Arthur Noble for abatement of sewer as
sessment.
or Mrs. Eliza Pennell, S61 Congress street,
for abatement Of sewer assessments
or ID. w. LeLacheur to erect new wooden
building on Gilman street.
OF Almira Hammond and others for a side
walk on Congress street at the corner OF Mer-
rill street.
or the residents of Peaks Island for street
lamps on Sterling street and Island avenue.
OF Josiah Sterling and others, that Island
avenue, Peaks Island, be discontinued.
OF Geo. w. Hamlin TO erect and maintain
steam engine at the corner OF Congress and
Atlantic streets.
OF VIM. 7. Small and others for sewer on
Bowdoin street.
OF p. J, Comedian to erect wooden build
ing at the corner Of Congress and Warren
streets.
OF II. G. Quincy and others that FEEDER al
street from India to Mountfort be relaid.
OF w. j. Henry and others for a street lamp
on Spring street between Oak and South
streets.
In Joint Convention.
W. o. Miller was chosen a surveyor Of lum-
ber.
PORTLAND AND oGDENsBURG.
Mayor Deering said he had called the con-
vention for the purpose Of informing the
Council OF the reception OF two letters from
Billings and Cardoza Of New York, the first
asking for terms for the city's interest in the
Portland a. 0gdenBburg road. He had an
swered the letter stating that he had no au-
thority to fix price, and the second letter re-
quested him TO call together the city govern
ment and offer price for the road that must
be reasonable. The Mayor then went on to
say he had no idea what the franchise Of the
road was worth, but he did have an idea OF the
value OF the bonds held by this city. He
thought II good price could be obtained
the cits,s interest in the road had better be
disposed Of. AS " was the road wonid have 10
be reorganized 10 be profitable property.
Mr.. Noyes agreed with the Mayor that the
road would have TO be reoFganized to become
profitable property. He spoke OF the value OF
the bonds owned BY the city. They had brought
at the Rolling Mills sale about 20 IA, and he
had not known OF their being sold above 40
At the latter price the bonds owned by the city
would be worth about 100000 He thought If
the city's interest was sold it should be 10 par
ties who would run it to benefit the city and
not for less than million, for a syndicate Of
Portland men some time ago had offered as
much as that for the city's interest.
Mr.. Melcher had talked ith a number OF
capitalists and business men, and the majority
felt the time had not come to sell the road. He
read the following table of figures relating to
the city's interest in the road:
Total amount Of loan to Portland &
Ogdengburg Railroad Co. In City
bonds, for which the city holds the
bonds of said railroad company, is 81 $500
Interest due on same from Sept. l,
1875, to say March j, 1s83-7h
years-is S607 800, which com
pounded semi-annually amounts TO 53,255.96
1883. ....,..........-'~ 81, ,1o3, ,25596
Par value Of 7143 shares OF stock. 714,300.0O
s2,s17, ,555.96
Mr.. Winslow had faith in the road and
thought well Of it. He thought the gentlemen
should remember the load Of interest the city
was carrying on the bonds and what it would
amount to in 1908 when the last one fell due.
Mr. Mari thought the city should go slow.
He remembered that the Portland & Roches-
ter sale was one in which the city was worsted.
The successful bidder got the road for half
what he was prepared TO bid II necessary. He
thought that the Commercial street merchants
had already paid enough in extra freights
since the road was sold to equal the amount
the city got for the Portland K Rochester. He
wanted TO know what the city's interest was
worth before he was prepared to say what he
wanted to sell for.
Mr.. Lappin thought the road was becoming
more valuable every day, and that now it was
beginning TO bring large quantities OF grain
from the West. He thought in the near future
there would be steamers running here TO carry
the freight of the road.
Mr.. Emery didn't think that would be done
by the road in its present condition il every
time few rails were laid the employees had
their salary put off for month.
Mr. Moves thought if II cost the
DOctOu q cldluc u. mllDCu 10 DullQ
in from the Rolling Mills, the P. & O. would
be hard up for the money to get terminal facil-
ties Tor any steamers
Another gentleman thought it best not to
sell the road TO strangers who could switch off
at Conway and leave Portland out in the cold.
III they wanted to make Portland the terminus
of grand trunk line why that would mt be SO
bad.
On motion of Mr.. McAleny seconded by Mr..
WiDslow and amended by Mr.. Winslow and
amended by Mr.. Noyes, the following order
was passed:
Ordered. That the communication to the Mayor
be referred to the committee on reduction of the
city debt, to ascertain if possible who are the par
ties desiring to purchase the city's interest, and
that the committee city debt be authorized to
receive bids from parties for the citys interests in
the Portland and Ogdensburg railroad and report
to the City Council; and the committee be an
thor.zed to advertise for bids.
Some discussion ensued as to whether the
passage of the order would not tacitly express
a desire on the part Of the Council TO sell the
road, bat the sentiment of the Council was
evidently not to sell the road unless the men
who wanted to buy were satisfactory.
In Common Council.
Absent Mr.. Shaw.
The records OF the last two meetings were
read and approved.
Mr. Winchester offered orders that the City
Treasurer grant a deed of land containing
6972 square feet at six cents per square foot,
anu Duulpcfcu Oh city pldn 10 JOnu w.
Rackleff; one containing 6055 square feet
numbered so, TO Alex Stewart; one containing
5766 square feet, numbered IS, to Manfred NJ
Riggs; both Of the latter also at six cents per
foot, and all located on Gilman street, which
were passed and sent up.
Mr.. Prince offered an order that the National
Bell Telephone Company be requested TO
furnish and maintain free OF cost to the city
telephone instruments and facilities. Passed
and seat up.
NJ Meas oEfara1 ,,a,i.sa, 30 To,nas IN
Prince that his tax levied improperly in 1881,
and paid, be refunded. Referred with power
aud sent up.
Mr.. Noyes offered petition of H. L. Pierce
and others that the city plans for the improve
ment OF the Western Promenade be carried
| cut. Referred with power and sent up.
Mr.. Moves offered an order that the Mayor
and committee on public grounds be appointed
| a committee to set off the amount of land on
| the two promenades, necessary TO preserve un-
| interrupted views; see what land of private
| individuals must be purchased for such pur-
| pose, and what lands can be exchanged with
| them. Passed and sent up.
When the order in reference to the money
| TO be paid back to the Grand Trunk was
brought up, Mr.. Marr wanted to know il the
| city government didn't decline TO receive the
four hundred and odd thousand dollars
when the Grand Trunk wanted TO
pay IL over some years ago, and II so what
money had they in their possession to pay
over?
Mr.. Noyes explained that il was the sinking
fund commissioners appointed by the city,
that wished authority to pay over the money,
and that the City Treasurer was also treasurer
of the sinking fund.
Mr.. Marr said he should object to the order
liz we're not for the fact that the decision Of
the Supreme Court stood between the Grand
Trunk and the city. The order then passed in
concurrence.
Papers from the upper board passed in CON-
currence.
The petition OF the assistant assessors for
extra compensation was referred to the COM
mittee on judicial proceedings and claims In
non-concurrence
FINANCIAL AND COMMERCIAL