Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-08-15
OPPOSING coNsornAr1or.
Meeting ofthe Maine Central stootbolder.
In Granite Hall.
S""s'itofe Passed Appointing . Com
mittee OF Conference.


legal proceedings in the name of and in be-
haif OF the NJ c. r. r, to prevent the execu-
tlon OF the lease of the Eastern II r. IN
the Boston Maine r. R.. or give in.truc-
tons to the directors relating to said lease
| The meeting was very fully attended many
stockholders Of the road and large number
OF prominent railroad men being present from
diHereht parts of the State. The following
directors OF the Maine Central were presen,
Amer Coburn. Skowhegan; Darius Alden
/ Augusta: VIM r. Bacon. Boston. wn q
Davis. Portland; Geo. E B Jackson. Port
land; William T. Phillips, Salem. Mas.
Arthur Sewail, Bath; Stephen 7
Young, Brunswick; Lysander Strickland
Bangor; Thomas W. HYDE, Bah.
also Payson Tucker, Superintendent Of the
Maine Central Among other well-known rail-
road men IN attendance were noticed tine fol-
/ lowing: John Patten, Bath: j. w. Brsd-
bury, Augusta; F. w. Hill, Exeter; Edwin
Noyes, Waterville; S. ID. Leavitt. Eastpor,. .
f. F. Webb, Waterville; Nathaniel Rones
Salem, Mass; Col. Green, Pres. Maine
Shore Line railroad John A. Kimball. Bath ::
James A. Hagar, Richmond: Hon. Georpe
w. Ladd, Hon. S. A. Holbrook, State Treas
urer.
The petition for the call for the meeting
was almost identical with the resolve nre
scented by MIR. Webb although in a more ex
/ tended form. 1t vas beaded by Abner Co
4 burn and was also signed bv Darius Alden
/ VIM. q. Davis, III. n. Jose and large
number of others. The signers represented
/ in all, 9,263 shares of Maine Central stock
/ The meeting was called To order at 10 A
| NJ. by Geo. +. b. Jackson, President Of the
road.
/ Josiah II. Drummond, clerk, read the call
/ and stated that a quorum was present
| Mr.. E +. Webb of Watervile spoke On
opposition to the lease. He stated that there
was doubt whether the lease of the Eastern by
the Boston & Maine was for the interest Of
the Maine Central; that it would not be
! for the int rest of the State to have this
lease executed. The people of the State
were satisfied with the Maine Central; that
! these petitioners signed the petition at the
solicitation of business men,
/ AT this point Mr.. Webb presented the fol
lowing resolve, and moved its adoption:
Whereas. a certain lease or indcnture be
/ tween the Eastern X. X. Co., and the Bos-
existing under the laws of the common
wealth of Mass. and the latter under the laws
! Massachu- New Hampshire and Maine,
has been agreed To by Directors and ratified
by the stock hofders of both corporatio ms said
lease being for term of fifty five years from
April lst, 1888, but yet remains unexecuted
by the officers of said company, and
Whereas. The Eastern Railroad aforesaid
is an owner of an absolute majority of the
capital stock of the Maine Central Railroad
Co, which stock is by the terms of the lease
or indenture aforesaid to be transferred to
the Boston and Maine X X. and,
Whereas, The terms and condition of said
lease or indenture are believed to be prejuii-
cial to the interests Of the NJ. C. X r. Co.
and the business interests of the State of
Maine, from which its franchise was derived
and.
Whereas. The present condition of the
ownership and management OF the Maine Cen
trail T. X. Co, receives to the fullest extent
the confidence of all persons and corporations
having pecuniary interest in said railroad,
ard also the manufacturing and business in
terest OF the State of Maine, therefore,
| Resolved That the Maine Central r. r.
Co.. is hereby directed to adopt such means,
including legal proceedings in behalf of and
] in the name of the corporation as may be
necessary to prevent the execution of said
F lease a. indenture.
/ Following Mr. Webb, Mr.. Strick md of
Bangor, arose and presented the following
substitutes which in his opinion would be
for the interest of the stockholders, and
moved its substitution
Voted. that the subject matter of article
first of the call tor this meeting be referred
To a committee of stockholders consisting of
Governor Cohurn, ID. Alden. W. q. Davis.
vi al
tee to confer with the officers of the Eastern
and Boston 4 Maine Railroad and to procure
such notifications of the contract for
"A lease between said corporations
/ as NAV be essential to the protection of the
/ interests of the Maine Central Railroad Co,
and of the individual stockholders in said
/ company and in the event of their failure to
procure such notifications to report at an adj
journed meeting OF this cooperation to be held
at a time and place fixed by said committee.
/ Mr. F. A. Wilson of Bangor, hoped the
substitution would not prevail
Mr. J. W. Bradbury of Augusta. was in
/ clined to favor the substitution.
A yes" and mo vote being taken on the
substitution, resulted in the negative.
This vote was doubted by Mr.. Sewell OF
Bath and vote by shares demanded. A
! committee to receive, sort and count votes
was appointed. following which the voting
by shares commenced. The result was as
follows;
Whole number cast "a 602
Affirmative, ~ 0s9.
Negative, . 5l3.
And the substitution was declared carried
and adopted.
The Is 239 shares of the Eastern were
thrown soidly for the substitute. VIM. b.
Bacon of Boston and W illiard 2. Phillips of
Salem, Mass, represented the Eastern
The 500 shares of Drexell. Morgan & Co.,
were not cast
During the voting Mr.. Wilson of Bangor.
offered resolution passed by the Board of
Trade of Bangor in opposition to the lease
and stated that the resolution was the unani
nous expression ofthe people of Bangor and
Eastern Maine. 1t placed on
fife The lease of the Eastern Maine Rail
way to the Maine Central was confirmed and
ratified: also the lease of the Maine Shore
Line Railroad.
A vote was passed instructing the commit
tee named in the substitute to report at least
two DAYS before the next meeting.
Adjourned TO meet in Granite Hall, Au-
gusta on the 24th inst, at 10 A. NJ.