The Portland daily press., 1883-09-22
RAILWAY NOTES.
The Canada. Pac,Ao

at
The probability is that this road will secure
possession OF the Southeastern and the Mon
treal, Portland and Boston roads, A special
despatch to the Boston Daily Advertiser from
st. Albans, Goth, says: "There seems to be no
longer any good reason to hope for a sale Of
the Southeastern Railway property and fran
chses to the New York syndicate who some
weeks ago made an effort to secure it, The
Canadian Pacific managers will apparently be
able to "gobble" it for the face of their claim
of million and quarter and thus secure a
very valuable connection and large amount
OF excellent railroad properly at price far be
low its cost. 1t seems that the only thing Ia
be done now to secure the depositors in the
Vermont National Bank of this place, carried
down by the failure OF President Barlow, will
be for Receiver Hendee to sell to the Canadian
Pacific people, the Montreal, Portland end
Boston Railway, large part of the bonds of
which are held by the bank as collateral for
loans to Mr.. Barlow, This road. extendinv
from st. Lambert to West Farnham, P. a. is
virtually owned, as was the Southeastern. by
Barlow, and has been operated under a ioint
arrangement with the latter road It was no
doubt MIR. Barlow's purpose to eventually
DSlng about complete merger of the two
roads, but up to the time of his failure no
lease or consolidation Of the Montreal, Port
land and Boston had been effected, and its
bonds and stock are therefore available assets
OF the bank. Mr.. Barlow owned 1924 shares.
out of the total 10,199 shares of the capital
stock of this road 1861, GOO out of the total
1901, 900 of first mortgage bonds, and all of the
100000 of second mortgage bonds, an aggre
gate of about three-quarters of ali its secnri
ties. OF the first mortgage bonds 1901 900 are
held by the bank as collateral for its loan of
S319,OOO to Mr. Barlow, and it is hoped that
Receiver Hendee can realize on tbesa enough
to discharge the Indebtedness. The Canadian
Paelhc people are understood to say that they
do not care for the Montreal Portland and
Boston, as they propose to bridge the st. Law
renee river at the foot of the Lachine rapids.
ana IN order TO use the Montreal Boston and
Portland would have to bnild from the SOUTH
ern end of this bridge to st. Lambert. and
could almost as cheaply build an independent
line direct to West Farnham. But as the
Montreal, Portland and Boston ia the stem Of
the main line of the Southeastern, and is in
complete operation, it is the only way BY
which they could render the Southeastern
available as connection for some years, pend
ing the building of their projected bridge and
connecting line, and therefore it is safe to say
that this assertion on their part is prompted by
desire to secure the Montreal, Portland and
Boston as cheaply as possible
A Chat With Sir Henry Tyler.
The New York correspondent OF the Boston
Journal says that Sir Henry Tyler, president
OF the Grand Trunk Railway of Canada, is in
that city. He has been in America since Au-
gust and has been making tour of the Grand
Trunk system as well as visiting the North
west. he will sail for England today on the
steamship Brittanic. A Tribune reporter had
a short talk with Sir Henry on Thursday even
Ing. Tho newspapers have reported that the
Grand Trunk has been seeking to lease the
Boston and Lowell Railroad. While there may
be legal difficulties in the way of a lease is the
Grand Trunk contemplating a control that
would be equivalent to lease?" asked the
reporter.
ST have not read the papers closely" Sir
Henry replied, "and do not know the nature of
the stories. 1t is true that we looked over the
terminal property of the Boston and Lowell
while in Boston, and had some conversation on
the subject. Nothing has been concluded"
Then there have been negotiations between
the two roads?''
"Yes. but the matter is not in shape where
l can discuss it,"
"Does the Grand Trunk look to so close a
connection as would be the result of a lease?''
Il think that we had better leave the SUBJ
1ect here" smilingly replied Sir Henry.
The Grand Trunk.
The New York World says: 1T is not gener-
ally known that the Grand Trunk Railroad
has been quietly building branch road up the
st. Lawrence valley from the tubular bridge
to Fort Coyington, and it is now proposed to
extend said road to OgdensDurg, thus opening
out line of country of unequaed richness and
beauty, which has been shut oct from the
rest of the world by lack of railroad facility,
and it will also improve the access to that pop
ular resort, the Massena Springs, which are
situated directly on this line. At Ogdensburg
the road will make direct connection with the
Rome, Wateriown and Ogdensburg, the Utica
and Black River, and the Champlain aud Og-
densburg Railroads"