The Portland daily press., 1886-11-01
PORTLAND & ocpENsBuRc.
The Story of the Maine centrars
Informal offer.
The Roads Probable Earnings This
Year $4,000.
Two Great Western Roads Looking
Towards Portland.

There has been, recently, considerable talk
about proposed lease of the Portland and
Ogdensburg railroad to the Maine Central,
the Portland PRESS stating that there had
been an informal proposition to that effect
and the Boston Journal (as quoted in this
paper Saturday. claiming that General Man
ager Tucker of the Maine Central denied an
formal proposition to lease The facts are
these:
la June last when the Portland & Ogdens-
burg met for reorganization the directors
then elected were authorized to take into
consideration the future disposition of the
road and to see on what terms the trustees
could be settled with and the road reconvey-
ed by them to the reorganized corporation.
As the full board of directors would be
cumbrons body for negotiations, they, the
directors, appointed a subcommittee from
their number to make the desired inquiries,
ana also to secure any information as to the
leasing OF the road by any other corpora
tions.
This subcommittee aseertained that when
the trustees fees were paid they would deed
back this road to the new corporation. The
subcommittee also, last Tuesday, received
intimation from committee of the Maine
Central directors, that their company would
lease the road for term of years. This
lease would assume the capitalization of this
road at 100000 ON which an annual rental
of one per cent would be paid for the first
five years, the percentage to be increased af-
ter that date. This lease, if effected, would
pay $4,000 rental.
AT the meeting of the directors of the Og-
densbnrg last week this proposition of the
Maine Central, which was informal, was
announced to the full board by the sub-com-
mittee, who were opposed TO entertaining it,
The directors, as body, were divided as to
whether it was advisable to consider the
Offer The friends of the lease think it
would be of the highest Importance to the
city, that Payson Tucker is one of.the ablest
and shrewdest managers in this country, that
1t is owing to him the Maine Central takes
the rank that it does among the leading rail-
roads of the country; and that in the hands
OF the Maine Central a summer business
alone between Fabyan's and Bar Harbor
would be established the pecuniary results
Oh wmch can hardly be estimated; that in
steau Oh peing mere local road the ogdens-
uuis "ouiu oecohe portlon OF tne great
railroad system of New England; and that
under the lease the salaries of all the princi-
pal offices of the Ogdensburg would be saved
as the Maine Central officers would run it.
The opponents of the lease--that is this
lease-say the $780, 900 proposed rental is but
. ',, ,n,i' p"s"Sone' one mall u WHICH aione
.,o' %oulu soniu W 'no oi's' rur'herihore tney
ian, una. sne earnings oi lhe road this year
W. oo"i 'iie"i ou' III 'nel opihioh' ihey
80 ~ s..eeo nSuioo
6 Der cent on $40 SOD Coz aoou'' s4a 900 i1o'ooo
per cent: s25o,o0o receivers
'''''''''.''''''''',''' lz,ooo M kco
60 -oo ~ i"'o' soS'ooo
"a. w .,'S ~ 'lal ',., 'no n"ine Sen'rai
~ rrasoa. 800 ~ "i'n sno Usuonsouis ~
sro,,,S ''0 -nain0 oeh'iai
I' VII, =. wy ie"'o 'ney Say .na' ,oau
e. IN, ~ Pr va WIN "hicn
ha,s -. 'a'e s'.o ioau ouV VI ING ieceiser
-..,' aiiu -, r10uio 'no inohey ior rohing
ssosA' ~, W. .nen AGAIN. "iiiie nopouy uouptS
~, ,a., "ol,'s " ,i' iucher' nor oelttieS the
Spa;no sP,s.'o 80" l.oui'a ne nas acnieVeu ior tne
.,I"ie o0ns,ai' ~ must pe ooihe III lhinu
.na. "hen 'le oos'oii anu MAINE ieased tne
I,as,ein =, ioau ~ ieaSeu all tnat belonged to
.ie Las.ein' anu tna1 Included the controil-
,ns S1ocA IN 'iie Malhe central road. IL Is
.iue' .noy Say, .ia' MI, furper mas never
inselieieu WIN MI tucker S management OF
the Maine Cehtrai, Dut IL doesn't follow that
ne never would II ne, OF MS directors, saw fit
to 10 So When tne Maine central controls
the ogdehspurg tney VIII then virtually con-
.,oi 'he eheire railway system OF Maine
snat Is Oh any importance, except the Grand
irunk' AT present we nave (by the arrange
nene WIN tne Doston and Lowell, which
con'roiS .he vermont division OF the Og-
uenspuis' soou iihe Ior passenger and
iieisns 'iainc 70 'ne west. Let tne Boston
q haine coh.,oi 1ne oguensDurg ana see