The Portland daily press., 1886-05-11
RAILWAY MATTERS.
. srERy RAILRoAD.

- The Supreme Court
doo;a;o,, ,,,aI,oe clear the course to De tonow-
ed in future elections, but leaves snS pss. -
some confusion. There was no S',,as-e -.aas ~
ON the legality of the HarVaru 0V IL
and no actual determination VI s-o -esa' -,
elected board of directors. Ihos1 W. -. Po.sS
could no determined by mahuaniuS VI suo
warranto snit At the same tlne' .no uoe,- ei
sion moIes n n1ain by inference now such
sniff co,, ho ovoided. The sinking Iuhu pohus
were illegally voted by the IuS.Seo' ,ositins anu
tbasa roieoted the ticket of the oPPosision
was elected. with the excep'ioI - 80
Sewall Rut how shall the changes DO llaue'
The chairman of teh trustees declareu GER
tain hoard elacted. and the members meae
notified of their election. 1neSo ssugoestod
have no one to resign to, but IL - bS nnaat
that they can get over the uiii; t;n1a filling the
ing and resigning one az ata,o,,Id a have been
deciarad aIoctad had not the slnkiiins lunu ia
votes heen connted. Trustee ntihpo, ~ hae1 IN IN
conversation to-day, said he had n9I ot seem an
town before for fortnight, anu ara ns Yonid be
his colleagues, but thougHtfh the controversy. 1t
no effort made to prolong the g,nI,Sy elected
is his suggestion that the legaassyo Nv fhe
directors NAV be installed IN ON olni6 6ef9re a
above plan. Some days may sitp' is nossible
formal decree is issued, anu anudtidered neces-
that further steps may be eonsldsedghuo sd hoard Of
saTv for fine Local establishment OF a DoaIu w. VI
directors. 1t Is certainly essenIlai sn"; ;ssna
action taken to reduce the uept, " I ha IaoaI
of bonds or other means, shouiu d,,g 10 east.
There is difference OF opliiiont shot1id ba
made by means of new bonds OF Dy tne lssudd 3sad
of preferred stock. Legislation. is Iequitoft
if bonds are to be issued, and lltlgallo
be had before the preferred ,',a stooa 10 nTac1
can be carried out. The bond seheme; rs, Is pano La
ticable, and with favorable leglslatlonl eah,
no doubt be executed within a Iea9on%Dlo I5 I,'oT,
time. After that will come dlyldehus uPyin i..
the stock if earned, which they presumably
could be-
ANOTHER TRUNK LINE.
The lease of the Utica and Black River
Railroad by the Rome, WATERFOWL anu
Ogdensburg Railroad Company, which "
CURED April 18th, is one of the most lnpol
tant transactions in railway circles OF reeeh.
date. The latter company becomes one Oh
the large and important railway corporations
of the country. 1t now controls 6OI'4 miles
under its single management, ana Is nesoeia-
ting to add to this the 11S miles OF the Ogdens-
turg and Lake Champlain Railroad, making
total of 725.4 miles under the single manage
ment, which thus gains control Oh an tne
traffic of northern New York, west OIL the
Delaware and Hudson Canal Companys
line in Lake Champlain. The two lines re-
Gently brought under one control were built
as competitors for the trade Of Watertown,
Oswego. the Thousand Island summer travel,
and the trade of the Canadian Pacihc hall-
road Company. The Utica and BLACK RIVER
Railroad is the most direct line from new
York to the regions traversed BY the cana
dian Pacific Railroad, and 1t is IN prosper
Gus condition. Competitive rates some time
ago gave place {, pooled rates, but now there
is no reason why the combined line should
not pay well, as it has absolute, undlspuIeu
possession of the field With the acquisition
of the Ogdensburg and Lake Champlaln rail-
road, it will have through line from Suspen-
sion Bridge to Rouse's Point, and thence
through to New England points. 1t may,
therefore, be considered another trunk
GRAND TRUNEE<*
The following comparSkse statement Is
made of the earnings of the Grand Trunk for
the week ending May l, 1886, since january
1, 1886, and for the same period last year:
Week. May 1 .S3o6, ,598 s274,506 Inc So, ,092
Since Jan, 1 ..49o1.516 4637, ,15S Inc. 264,ooo
NOTES.
A. Middleton, c. E., of the International
Railway, and an engineering corps Of thirty
men were near Greenville last week engaged
upon one of their surveys. Mr. Mlddieton
expects to entirely finish his WORK IN TWO
months.