The Portland daily press., 1885-01-06
RAILWAY MATTERS.
Maine Central.


A special NEE ting of the directors of the
Maine Central was held at the company's
offices in this city yesterday afternoon, at 1.so
o'clock.
The following vote YVES passed and it was
also voted that preference in subscribing for
the loan be given to the stockholders of the
road
PORTLAND, Jan. 8, 1885.
To-the Stockholders Of the Maine Central Rail.
road Company:
The floating debt Of the corporation at the
present time, is about 100000. The directors
have deemed it best that this should be funded
in permanent form and for that purpose
they have decided to issue 1920, per cent.
Sinking fund bond in denomination, $1,000, to
be dated Feb 1, 1885, and secured by sink
ing fund, to be deposited annually with the
Portland Trust Company, trustee under an in-
denture made for that purpose, the sinking
fund to be sufficient to meet the principal of
the bonds at the end of twenty years, and to
be invested in said bonds at market price, not
exceeding 105 per centum of the par of the
bonds, and accrued interest.
In order that the stockholders may parti-
cipate in this loan the directors have decided
to first offer the bonds to them at par, so per
cent. of the subscription to be paid February
/, 1885, aud 80 per cent. April L. 1885, with
interest from February /, 1885, (the time the
bonds begin to draw interest.) with the option
of paying the whole amount February /, 1885.
Each stockholder is entitled to subscribe for
one bond OF $1,000, and for one additional bond
for each sixty shares of st ock standing in his
name on the books Of the company January
10, 1885.
The bonds to be delivered on full payment of
the subscription,
All subscriptions must be made in multiples
of $1,000, and be received at the Office Of the
company on or before January %, 1885.
The directors have already subscribed for
$500 900 of this loan on the terms of this cir
cular; If that amount is left untaken by the
stockholders, any amount not taken January
%, 1885, will be disposed of by them as seems
best for the interest of the company.
By order of directors.
ARTHUR SEwALL, President,
The directors voted to send directors train
to Skowhegan, leaving this city Wednesday
morning, January 7th, at 9 a. m. to attend the
funeral of ex-President Coburn, and it twas
voted to attend the funeral in body.
The following resolutions on the death of
Hon. Abner Coburn were adopted:
ResoIced, That in the death of Hon. Abner Co.
burn this board and the Maine Central Railroad
Company have met with loss such rarely hap
pens TO men associated together in business rela-
tions. Connected with the Somerset & Kennebec
K. Il. Company at its inception more than thirty
and from that time forward until his death he was
among the foremost in developing the resources of
the State by the building. up and extension OF
our railroad system. In his thirty years service as
director, and three years service as president of
this company, he exercised that wonderful sagacty
which led to the embarking in enterprises of real
merit, and avoiding any which lave led to disas-
trous or unfortunate results In the dark days
through which the company has passed he had
never lost his confidence in its ultimate and
to that end he had given his able services his sound
Judgment and even the pledge of his private for
tune in crisis in which 'thing else saved it from
most serious embarrassment In the Judgment of
the board, the success which this company has at
tained is largely due to Gov. Coburn and they de
sire put record this expression of their appre-
citation of the obligation this company is under to
him.
Resolred That while this company has lost one
of its Oldest ablest and most devoted friends the
members of this board have lost associate whom
they had learned to regard in the highest degree for
his sound judgment. his courteous bear ng and his
unswerving integrity, the State has lost most
valuable citizen and the community public spirit
| ed, benevolent and large hearted man.
| ReSOtped That as q token of our respect to his
memory this board will attend his funeral in a
| body.
Boston n Maine.
The subject of fixing maximum fares and
freight on the Boston & Maine system came
| up before the New Hampshire railroad COM
missioners at Concord yesterday forenoon BY
| appointment. j. 7. Furber, general superin-
tendent; j. W. Sanborn, superintendent Of
Northern Division; w. j. @. Kenney, general
freight agent; and D. j. Flanders, general
ticket agent appeared and asked the board to
fix the maximum passenger tariff at 8 cents
| per mile on the whole system. Consideration
| OF the freight tariff was postponed awsiting
| classification of freights by the agents on the
various roads doing business in that State.
Minor Notes.
| It Is stated that plans will be prepared for a
union depot of the Boston and Maine aud
| Eastern Division roads to be located on Cause
| way street, Boston, between the present
| Eastern depot and the Fitchburg depot, and
| that the depot train house will contain eight
1 tracks