The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1886-11-24
RAILWAY MATTERS.
A NEW SCHEME.

There is talk among capitalists Of con-
structing a new line of railroad to connect
Sanford and Springvale with Kennebunk-
port, one of the finest harbors on the Maine
coast. A large saving in freight on coal,
10000 tons Of which is consumed in Sanford
annually, would be effected by the enter
prise proving successful. The road would
connect with the Portland & Rochester at
Springvale, the Eastern Division of the Bos-
ton 81 Maine at Kennebunk Depot, the
through line of the Boston & Maine, and the
KennebunkpOrt branch of the Boston &
Maine at Kennebunk Village. A 500 horse
power waterfall would also be opened up for
utilization by some enterprising manufac-
turer. Connection could also be made with
the Boston and Portland steamboats, at Ken
nebunkport It would establish lively
competition, which would be beneficial to
travelling and business men as well as the
public in general. The Intervening distance
between the extreme points of connection
with the proposed new line is about IA miles
over land well adapted for railr0ading. 1t
Is estimated that the entire cost of construc-
tion would be less than 100000.
EASTERN ROAD.
The Trustees of the Eastern railroad Com
pany report to the Railroad Commissioners
under date of Nov. 4, 1886, that the sterling
loan outstanding is a575,60O and $10,22S, 500
in gold bonds besides 145 II in scrip. This
shows decrease in sterling bonds of e55,-
800 and SI64, 900 in gold bonds, purchased by
the sinking fund and cancelled under the
recent decision of the Supreme Court The
report Is signed by w. 9. Rogers and Willard
p. Phillips, remaining trustees.
PORTLAND oGDENsBURG.
General Anderson has made his report for
the quarter ending September 30th as re-
ceiver of the Portland & Ogdensburg The
gross earnings for the quarter ending were
$135,67i.6S; the operating expenses were
$50, 0,294.9O; making net earnings of $55, ,379.7S.
THE OLD COLONY ROAD.
The annual meeting of the stockholders Of
the Old Colony railroad was held in Boston
yesterday. The directors report was ac-
cepted. The following directors were
chosen:
Chas. +. Choate, Southboro.
Thomas j. Borden. John S. Brayton, Fan River.
Samuel G. Cobb, Uriel Crocker, Geo. p. Gard
| ner, Boston.
Thos. Dunn, Newport
Chas. l.. Lowering, Taunton.
VIM. G. Rotch, New Bedford.
John I. Russell, Plymouth.
Royal w Turner, Randolph.
| 1t was voted to construct a branch road
between Brockton and Easton, via West
| Bridgewater.
On the question of leasing the Nantasket
Beach road, the directors were not ready to
report.
following resolution
Whereas, we the stockholders Of the Old Colony
road, believe that free passes given TO members Of
the Legislature and other State officials exert cor.
| rupting influences; therefore,
| Resolued, That the president and directors are
| hereby instructed not to issue tickets over the
road 10 members OF the Legislature or other State
| officials except at regular rates.
After considerable discussion, Mr.. Benton,
! counsel of the road, moved that Mr.. Faxon's
| motion be referred to the directors with the
| request of the stockholders that the issue OF
| passes be reduced to the smallest possible
| limit consistent with the best interests of the
| road Mr. FaxOn objected vigorously. Mr..
| Kettel of Boston meved that the meeting adj
journ. Mr.. Faxon denounced this last mo.
tion as a cowardly way Of dodging the cues
tion, but the motion was carried and the
| meeting dissolved.
At a subsequent meeting of the directors,
| held at their room in the passenger station
the present board of officers was reelected
EASTERN RAILROAD TRUSTEES.
A special meeting Of the holders Of the
certificates Of the Eastern Railroad Com.
pany, issued by act of April 2S, 1876, was
held in the Meionaon, Boston, yesterday
morning for the election of trustee in the
place of William L. Bacon, resigned. There
were some % holders present. Mr.. Willard
c. Phillips presided over the meeting. Bal
lots with the name OF Hon. Charles X. Cod
man of Barnstable were distributed, and
the polls were kept open for an hour. As NJ