The Portland daily press., 1886-10-09
a GREAT ScHEM G.
Proposed Consolidation OF the Bos-
ton & Maine and other Roads.

A proposition now under consideration
and said to be practically agreed to is a lease
of the Boston Sc Lowell road and its leased
lines to the Boston & Maine for a term Of 90
years on basis of a per cent. guarantee on
the stock, and a guarantee, too, of the inter-
est ON all the outstanding securities of the
company. The purpose Of the lease is ap-
parent when it is considered in connection
with the pending lease of the Central Massa-
chusetts road by the Boston IL Lowell, and
the proposed extension Of that line to the
Connecticut river, and ultimately to the tun-
mel. The scheme contemplates further
consolidation of the Eastern and Boston q
Maine roads on basis of two shares oil the
former for one of the latter. This part OF
the project is now under especial conSldera-
ton. definite action on it being delayed until
one of the Eastern Company's directors,
who is also one of the largest stockholders,
shall have looked into the matter carefully
and made up his mind whether the union
proposed, with all its incidental results, Is
desirable or not. This union would not nat
urally come until after the Boston q Lowell
loo GO 10 aeoosaplishod, and nnally, Wien Tne
whole amalgamaton is brought about, the
purpose is to secure control of the HOosac
Tunnel and open new Western line out
from Boston, in which the Central Massa-
chusetts would, of course, be the Eastern
terminal road. The Republican candidate
for governor, whose election Is practically
assured, is known to favor legislation which
will provide for the disposal Of the great
bore on terms that will give the combined
Boston & Lowell, Boston q Maine, Eastern
and Central Massachusetts roads most ex-
eellent chance for getting a controlling grip
on the same. Legislation allowing the con-
sOlidatiOn proposed can, tits also anticipated,
be obtained notwithstanding more or less
opposition thereto may be encountered.
Large stockholders and leading officials in
all the corporations concerned are Known to
be favorably inclined to the union outlined
above. most important result of the7con-
solidation as proposed will be the absolHtA-- =
doing away of the grade crossing nuisance at
the North End of Boston. The project con-
templates the sale of all the Boston & Maine
COmpanys Haymarket Square property, the
removal of its tracks between that point and
Causeway street, the utilizing of the commo-
dious Boston 81 Lowell and Eastern sta
tions-both put under one roof and remod-
eled-fOr grand union depot, and the rear
rangement of the Fitchburg roads tracks so
as to avoid u crossing at Prison Point, and
so, also, as to come into the union station.
Altogether, the scheme, in putting practical
ly the whole railroad system OF Northern
New England under one management, and
providing, more than this, another direct
something which sn comprehensiyeness
and grandeur even the far-seelng and pro-
gressive railroad men of Eastern Massachu-
setts can hardly realize.
LATER.
A dispatch received last night from New
York, says a conference was held at the
Grand Central depot today between repre-
sentatives of New YORK, New Haven and
Hartford, Boston and Albany, and New
York and New England roads, to consideFa
proposition to merge these lines into one Sys-
tenn. Nothing positive can be learned as to
the resuft of the conference but it's believed
the project has fallen through, though anoth-
er meeting may be held tomorrow to further
discuss the matter