The Portland daily press., 1884-01-02
RAILROAD MATTERS.
the Piscataquis Road.


The Bangor Wing says: Our citizens will
be pleased to learn of the steady advance in
the business of the Pscataquis Railroad, and
the further important fact that this year, for
the first time, the road has been able 10 pay
from Its earnings the full amount of the inter-
est on the city's Indebtedness on account Of the
road.
Yesterday, Treasurer Blood, of the B. & P.
Railroad Company, paid to City Treasurer
Orosoy the balance of the full amount Of in
teresf, amounting to $58,75O. Last year the
amoant paid was $58O00 and the balance of
the amount, $3.50, was made up before the
close OF the municipal year in March, but this
IS ne hrst lime they have been able to pay the
luli amount during the calendar year. In adj
| ditlon TO this the company has paid the utter
est on all the extension bonds issued up to
Oct. lst, amounting TO sum but littls less
| tnsn S4U00. This is better showing for the
city than would have been the case had the
! ci,y, as some parties so strenuously advocated
| sold the road for half million dollars and an
| nuaily paid the difference between the interest
| on that sum-S30, 000--and the full amount Of
| $500, as above. With the completing of the
road to Moosehead Lake, it will make still
| pe'ter showing than now, and will soon DO
! earning handsome surplus.
'Fhc New Y Orlx and New England
~~~HSAeAj ONAAds, JAR II Nc OrGor IQF
appointment Of Chas. P. Clark as receiver of
| the New York aud New England Railroad
Company was made last night by Judge
Nathaniel Shipman Of the United States Cir
cult Court en- petition OF Hon. Thomas Bras
sey, M F., of England, creditor.
BosroN, Jan. /.
The following notice was proululg ated to the
| stockholders OF the New York and New Egg
land Railroad at late hour last night:
To all agents. Oetcers and Employees or the
| Nelc York and Neao England Railroad Com
| pany and to Whom 1t May Concerns
| The Undersigned having been appointed re-
| ceiver of the New York and New England
Railroad Company By the CircutCourt OF the
| United Stltes for the second circuit. herebu
| gives notice that he has qualified as such aud
has taken possession as such of all railroads OF
| said company in the States of Massachusetts.
| Connecticut, Rhode Island aud New York
and OF all said company 'srailroad franchise
| and property.
CHARLES 2. CLARK, Receiver.
Clark was yesterday elected president of the
company.
BosroN, Jan. 1.-The encouragement that
the New York and New England Railroad had
been placed ia the hands of a receiver was a
surprise to everybody, with the exception, Of
| course, to the few in the ''inside Il appears
that the new directory has found an unexpec.
tedly large floating debt hanging ever the
property, and that at least $150000 would be
| payable by the first OF February The directors
| succeeded in procuring the funds to pay The
January coupons, but that was i that could
| be done, VI course, with such load of fi1at-
lng deot hanging over the company, there was
constant danger that somebody would get IN.
| easy and place an attachment On the rolling
| stock thus stop the operation of the road Tina:
| such catastrophe must be avoided in some
manner was thu feeling of the director and
| therefore PRESIDENT Clark took the ssbull hS
the horns, 2 aud asked for the appointment 81
receiver. The judge took inn the situation
ana complied with the request very prom ptly
ne order OF Judge Shipmau appointing 4
.eoelVef was made about 2 o'clock this morn
| Ing, ne having 0een waited upon at his resi-
depce for that purpose by seven directors ~ tht
company. he directors thon ret,rned IN
Boston and the application was made to ,Tndps
Nelson Of the United States court for This dis
Ilct lor "a cecfee connrmatory ofthat issued BY
Judge Shipmsn at Hartford. After hearips
arguments OF counsel Judge Nelson this eve
Mug reserved bis decision in order that OF
lectors may have an opportunity for petition
ing Judge Shipman to revoke his decree.
Judge Shipman had granted the petition afte
q csrefGl hf airing OF both sites Judge Nelson
said he should probably have confirmed ths
formers decision, but as only one side had pre-
| s6nJed 1tS case corn nation of decree should b
delayed until other parties interested had beef
heard By that judge. He said the fact
brought out duiiug the bearing would seem t
Indicate that the directors were the real petit
til ners rather than Mr.. Brassey The Stat
which is one OF the largest bcndholde.s OBJ
jected TO the appointment OF a receiver T.
directors wers divided as follows: La favor
Messrs. Clark, Higginson,. Nickerson, Robin
son aud Kngsbury; opposed, Messrs. Frencl
aud Metcslf, the two latt r advising delay.
NEIuOr N0tes.
1t is argued that the Grand Trunk is nov
willing to unite in my steps 70 coerce tn
LackawanGa, because Of the formers traffi
relations with the West Shore. The Lacka
wanna as refused to accept an offer of IL pc
cent in the West bound pool, and also deciin
ed TO submit its claims TO arbitration TIL
West Shore has been admitted TO the pool. an,
| satisfactory agreement has been reached il
regard to it's percentage of the West bount
freight business. This is understood to be i
per cent. The amount will be made up BY de
ductions from the other trunk lines in propot
ton to their established percentages.
Up TO the third of December there was a de
crease in the Grand Trcnk receipts from thos
OF 1882, of $57 900.
The report of the Central Pacific will shoy
over $1,700,000 above the dividends fxe,