The Portland daily press., 1884-03-20

of what known as frst-cass railway, or to such
a condi ion would enable 1t to do satisfactorily
and economically the increasing business of sal
Portland q Ogdensburg Railroad Company; That
since said default as aforesaid the business OF said
Portasd 0sde' sbuEg Railroad Company over
the railroad Aforesaid has been constantly and CO.
inuously increasing, requiring constantly and
continuously improvements upon its road-b d and
increase OF Its quipmeni that as already herein
stated. all the earnings of said railway company,
not required for operating expenses tor the pay
ment Of interest secured by said prior mortgage
have been applied t. the improvement of said road
bed and Its appnrtenances, ard to incre tsing the
equipment required aforesaid; that your orators
are informed and believe that, in addition to the
application of the earnings aforesaid in order to
meet the requirements OF said increasing business
SAID corpo alton has been compelled to anticipate
hereinafter set out; that in the manner afore
said the construction and equipment account of
said rtland Ogdensburg Railr, ad Company has
been increased since the thirtieth day September
in the ear of our Lord 1880 10 the preent time
your orators are informed and believn, 10 the
am unit of more than one hundred and fifty thou
sand dollars, and that the same was so increas ed
before aid thirtieth day OF September, 1880, by
very large amount to your orators unknown; Jh ~,
as your erat rs are informed and believ4.. by The
means fresaid between the first day of Jan airy.
). ID. 1877, aud the present tine the said railway
its equipment and franchises had been very largely
improved and now in safe aud subs an,ial con-
dttion exc pt as hereinafter set out; and that by
rea on OF the improvements aforesaid and notwiih-
prated by the Portland & ogdensbufg z Railroad
Company honestly and economical already
nerelnDvIO set out 1naBmuch hS said CORPORA ton
had very limited OF ed and no means Of improv-
said r al bed and appLrtenahces or If enargine
said Equipment except its ear nDgs aforesaid AID
the use OF its very limited credit aforesaid said
Portland Ogiensburg Railroad Cmpsny has be-
come embarrassed in the manner hereinafI er set
out. and now fnds itself unanle to provide the
repairs and Improvements Immediately demanded
as hereinafter set out.
And your orators humby complaining, further
shOweth unto your HonOrs that your orators have
la ely ascertained aud been informed hat the part
Of said railway extending from near White Rock
in the town of Gorham, TO Hiram in the State of
Maine, distance of about twentythree miles is in
an extremely dangerous condition and not safe T
be running of trains by reason of the rails being
insufficient; that this condition of the rails has
come on rapidly and unexpectedly since the opening
oil Winter; that it will be BILE for the busi
ness of said railroad TO be done that portion
If the road the coming Summer season unless the
same IS at once substantially relaid with new Iron
or steel rails; that not more than one-hfih Of the
present on upon that portion of the road is suit
able for re ayiLg that economy deman Is that wnen
the same is relaid it should be relai throughout
with steel rails; that while said Portland Ogens-
burg Railroad Company had expected that during
the present Spring ard coming Summer some por-
ton of said twenty-three miles would require new
rails, 1t not expect ed that the same would need
10 be substantially relaid as proves TO be the
TACT; that the rapid deterioration and present dan
gerous condition of the iron rails afosesaid was
wholly unexpected, and could not have been fore
seen and provided against, but is due TO some In
manifest to any inspection. so that said Portland &
Osdensb burg railroad company has made no pecun-
reason of sal rapid deterioration of said iron and
is wholly unable, by any means credit which it
has or may obtain, to replace the same much
thereof will be necessary for the safe operation
of said road; that in addition thereto at least ten
miles of new iron steel rails will be required the
co ing summer upon the portion of the railway
line between bartlett line and the said Fabyan place
50 called, in order that The may be safely op
Grated; that indeed nomy requires that the
whole railway from the Bartlett line to the SAID
Fabyan place, except about i've miles of steel
should be relaid the coming summer, but that said
Portland & Ogdensburg railroad company have no
means resources or credit by which the
even sald ten miles can be relaid; that as your
orators are informed aud believe the of relay
ing with steel rails the portion of said road from
White Rock to Hiram "a aforesaid, after deducting
what would be received for The old iron will be ex-
ceedi forty thousand dollars, and like Ielaying
OF said ten mil between sail Bartlett line and san
tabyan place the coming season, after deducting
the proceeds # material sold will be a. least twen-
ty thousand dollars, and said Portland & OgdeDs-
ourg railroad company has no means. resources
cred1l enabling it to provide either of sa sums
Ana Your orators fur her complaining showetb
unto your hOnors, they are informed and believe
that in order tp put the bridges of said railroad in
good an0 safe condition for operation the coming
summer season at least fifteen thousand dollars IN
money will be required, and that said Portland 3
Ogdensburg railroad company have no resources
nr credit to enable it to furnish the amount aore
said and provide for its current liabilities, and ar
rears as hereinafter set out.
And your orators further complaining showeth
unto your honors they informed ami believe
that iu the present condition of the railway afore
operated; ami further in view Of the Increased and
Increasing business Of said cortland Il Ogdensburp
Rail DAD Company. which has equire as still re-
q1res an increase in the number and weight OF its
TRAINS cars and locomotives that economy and d. u
dent management require that al p-rts of said rail
way now laid with iron rail should be immediately
reaid with steel rails; and that further account
OF The extraordinary low price at which steel rails
can now be purchased, the present is a suitable
time for so relaying the same, and that probably
the cannot for long series of wears be SO re-
laid as cheaply as during the coming season; that
tne cost OF 30 reying, inc udiDg the of relay
ne lrtlons hereinbefore already described, after
deducting The proceeds to berealzed from the SAFE
n old material would be sabout - thousand
dJllars.
And your orators further complaining showetb
unto your honors, that aside from the bridges and
ths rails as Aforesaid they informed and believe
sald railway and its appurtenanres are in con
dltion and as ready hereinbefore stated very much
Improved since the first day of January A D. 1877
aforesaid; and your orators informed and be-
lev and allie e. that for the reasons hereinbefore
set out said Portland & Ogdensbu Railroad Com
pany has been unable its current liabilities
and that now there rem aims due and unpaid TO The
pay, being in all about twant, thousand dolla s. ann
current bills for supplies tn the amount Of fr IN
forty thousand to fifty thousand dollar, which is
aside from and in addi n TO bills PAYABLE for
iollng stock secured by liens upon said rolling
stock; that the said corporation is OBJ igd to meet
the lnstallments on account Of said rolling stock
from time to time as the same come DUE or hs
said rolf stock; that from the earuit gs Of said
railroad which may reasonably be anticipated dur
ing tuo nextIOur months, not more can be realized
than will be sufhc TO pay the current expenses
OF the said four months and the past and accruing
pay rolls and installmeuts which must be paid IL pon
the notes for the rO ing stock aforesaid tn dur
ing the said next four months said cor oration will
not be able 10 realize from its earnings as afore
$ sid, any hing towords the payment OF said forty
thousand or nifty thousand OLA of liabilities foT
current expenses, nor anything for the purp 81 of
relayi its track OF improving It's bridges afore-
said; that said corporation has no credit nor any
resources except the earnings Aforesaid for any
the purposes afOresaid that If the sad corporation
Is allowed to remain in po session of and operate
said railway, the same will be to the injury and
great dam .ge of the proper and business of the
line and that said cm poration will be Vhully un-
able 10 safety operate said road during the coming
season, and perform IT'S du les to the public accord
ing to ITS charter and the laws of
the State, aud that the attempt
to run and operate said railroad and conduct the
large and increasing business offering to said road
even If the same could be done with safety in the
p esent impaired and defective condition said rail
70 ID would be only at so greatly increased cost
the same; and that for the reasons aforesaid this
condition of thngsswss wholly unforeseen by your
orat RS, and has come upon said corporation sud
denly and contrary TO its just expectations and in
consequence of the matters here nbefore set out.
Ana your orators further complaining showeth
unto your honors that said Portland a. Og iensbu 2
Railroad Company in connection with the Essex
County Railroad Company, the Montpelier 4 St
> hnsbury Raj road Comp my, the Lamoille Valley
Railroad mpany aud the Lam lille Valley Juuc-
ton Railroad Company, all corporations created by
the statutes of Vermont and having their places OF
business in aid vermont, did about the first
day OF January in The year of our Lord 1875 al
range TO issue certain JOINT bonds to the unit
nine million five hundred thousand dollars, and did
actually certain OF said joint bonds, of which
now alb ut sixty thousand dollars are outstanding,
as your orators informed aud believe; that l..
ord to said joint bonds, all said corp IRA
ons execu ed their gage dated the first day of
January 1875 TO said Philip Henry Brown, Israel
Washburn, Jr, of Portland afore. aid, and Luke r.
Poland # St. Johnsbury, in the state of Vermont
copy of which mortgage is hereto attached; that
said Israel Wa~hburn Jr.. has deceased; that all OF
sal bonds we're issued for the benefit of said rail
Og iensburg Railroad Company and that SAID other
railroad corporations o holden, as between them
and the Portland & OgdensbuTg Railroad Company,
pay all of said )nds, that all of said other
railroad corporations are beyond the ju isdicton of
this ,urt and have no interest which reqnires
hat they or either of them should be made parties
to this suit
Ana your orators, further complaining showeth
unto your bonors that by reason of The premises
said Portland & Ogdensburg Railroad Company
ought not TO be allowed 10 remain longer in posses
and that your orators trustees under said mort
gage, da ed November first A. d. 1871, should take
posse ssion of and operate the for the teneft
OF the holders Of the bonds and coupons secured by
said mortgage until the said mortgage is properly
and duly toTeclosed and the holders of the bonds
secured thereby duly organized as a corporate u
provided by the Statutes of the State of Maine
and that, the fourteenth day oil the current
month, YOUR orators were reque- ted by the Mayor
of the City of Portland, in his official capacity to
take some action in the premises.
And your orators further represent to your hon
that your orators without the moneys neces-
md ir,Nf.r oil