The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1885-02-27

about eight o'cloUk
Mr. A. A. Strout said that his position on
the committee needed word of explanation.
He had attended Saturdays meeting with
view to correct any misapprehension which
might arise in regard to the action OF the Hon.
George P Wescott. When the committee to
revise the bill was raised Mr.. Strout heard his
name with other gentlemen, announced as
composing it. The speaker said that he was
at the meeting as private citizen to advise for
what he believed TO be the best interest of the
city.
Mr.. Chapman corroborated Mr.. Strout's
statement as to his name being placed on the
committee.
Mr.. Mclaughlin, chairman of the sub COM
mittee said that the committee had deemed it
advisable to confer with q counsel in the ser
vice Of the road with reference to amend
ments that would protect the city's interests
and therefore they had, in the absence of Mr..
Putnam, consulted Mr.. @. F. Libby, counsel
for the receiver. Various methods had been
discussed as to building the gap In the noun
tains, among which was the Issue OF priority
bonds. This would require the assent of indi-
vidua' bond holders Priority bonds could be
AooNSN
this plan is not advisable.
Mr.. Chapman said that the business of the
meeting was to take action upon the Portland
and Ogdensburg bill to come up in the Lsgis-
lature today. As representatives of the citi-
zens it was the duty of the committee to look
after the bill. 1t was necessary to take steps
toward an authorization to complete the lack.
ing eighteen miles of road. Even were the
road not built, the power to do SO would be of
value in forming new arrangement. This
was the question referred to the sub-commit-
tee. Honest difference Of opinion exists in re-
gard to the clause requiring two.thirds vote
OF the city on sale or lease, and this is ques-
ton to be discussed and settled.
MR.. LIBBY's REMARKS.
Mr.. Libby said that the committee had call
ed upon him and asked his opinion upon GER
tain features of the bill. At the conclusion of
the interview they had asked him to be pre-
sent at the meeting and repeat to the commit
tee his views in the matter. The present stu
alton of the road is the first thing to be con-
sidered. The road is built to Fabyans, leaving
a gap of eighteen miles to SCOTS Mills, from
which place 1t is completed to Lunenburg,
distance of between two and three miles.
From Fabyans to Scott'6 Mills the Portland g.
Ogdensburg, under contract, uses the track of
what has been known as the Boston, Concord
and Montreal Railroad. This arrangement
has given satisfactory through line. At first
the B. @. and M. hauled the cars; afterwards
the Portland q Ogdensburg used its Rn loco
motives. The Boston, Concord and Montreal
has now passed under the control of the Bos-
ton and lowell Railroad, which has also OBJ
tanned control of q system of railroads in New
Hampshire, which are naturally hostile to the
development OF the P. Il O.. through business
Under provision Of the contract which pro-
vides for three months notice, the receiver of
the Portland u OgdensbRrg has recently been
notified by the Boston & Lowell railroad that
the contract under which the Portland &
Ogdensburg use the road from Fabyans to
Scott's Mills would cease on June l. The
through business of the Portland & Ogdens-
burg pays but little, and slight change in the
rates now charged by the Boston & Lowell
would render it impossible to do the through
business without loss.
Owing TO the New Hampshire law affecting
treights to non-competiDg points, the Boston
| q Maine and Eastern railroads have given up
| all their through freight color | inc business,
so that now the Portland & Ogdensburg is
doing the color line business and is furnishing
a large portion of through freight to the Maine
Central. Enough is developed to show the
hostile disposition entertained by the Boston
q Lowell to the development of the Portland
q OgdeDsburg through business, and to make
the question of the completion of the Portland
~ Ogu6uSDuFR IdllfOhu from FADyan6 TO
Scott's Mills at an early day an important one,
in connection with its reorg anization. The
road is now in the hands of a receiver. Under
the bill now pending for the foreclosure OF the
second mortgage in the U. S. Circuit court in
New Hampshire, a decree of foreclosure is
imminent, and Mr.. Justice Grey may at any
time enter a decree authorizing strict fore
closure, or foreclosure by sale, in the usual
manner. How soon the road will be in con-
dition to reorganize, il is impossible to say. 1t
ia nranfipa hlQ ma IN nj fa
| the IS miles of road, but whoever takes the
road after its reorganization will have to meet
this question. The hostile action OF the Bos-
! ton & Lowell road may make 1t a question of
| the near future.
| In case an appeal to the Supreme Court of
/ the United States is taken in the foreclosure
| suit it will be three years before a Judgment
] can be obtained. How is the road to live dur
| ing the three years?
| Mr.. Libby said that the bill before the Legig-
| lature was drawn by Mr.. Patnam, to meet diff
| iculties of reorganization, and had been care
fully examined by Judge Webb the Mayor and
counsel for the civ. 1t was generally agreed
| that section four should be stricken ont 1t
might result in fxing mortgaged debt of $500
| 100 on the lew corporation
The Boston & Lowell and Grand Trunk
roads from their geographical positions are
natural opponents TO the Portland u Ogdens-
burg as competing through line. The East
| ers and Maine Central roads are naturally
| friendly to the Ogdensburg ON account of
| their business relations. 1t is for their inter-
| ests that the Portland s. Ogdensburg should
| be kept open as a through line. Their roads
| are now under the control of the Boston &
| Maine and are represented by it. There is no
| reason why the Boston q Maine system of
roads should be unfriendly to the Portland &
Oedensburg. On the contrary they have in-
| terssts in common.
Mr.. Libby said that the citizens were right
in wishing to protect the city's interest Dut
Questioned whether the amendment to the
bill had not given the opponents of the road
| power to prevent a favorable lease or sale to
| responsible parties The road can only be
sold for what it is worth to parties Wishing to
| operate 1t; but offers of larger amounts from
| irresponsible and unknown sources may be
used to defeat its proper disposition. The
| offer of 100000 received by a former
Mayor from unknown parties was instanced as
| an example of what may be expected The
larger the vote required for ratification, the
| easier it is for large corporations to nse the
means at their command to thwart the city's
interest.
In conclusion Mr.. Libby said that he be-
| lieved no disposition OF the road would ever be
| ratified by the citizens of Portland until they
| were satisfied that the road would be used to
| promote the commercial interests of our city.
| and that they were justified in exercising
! every reasonable precaution to secure that
| result.
In reply to a question by Mr.. Hammond as
| to why the legislature of New Hampshire FIX
Ou INC inloo uo eAoy uiul A1iOpy noiu luae Az
was due to the erroneous impression that a
railroad should do business as cheaply between
non-competiDg as between competing points.
Mr.. Chapman moved that committee con-
ssting OF the Mayor and three other gentle
men be raised to consult counsel and recon-
mend any necessary amendments to the bill.
The motion was carried and Messrs. McLaugh-
lin, Chapman, and Thatxer were appointed
such committee.
Some discussion ensued on the propriety of
| making the vote of citizens on the disposition
of the road, majority or q two-thirds vote
and an informal ballot showed the committee
to be about equally divided on the question.
The meeting then adjourned.