The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1888-03-21
RAILWAY MATTERS.
MAINE AND EASTERN.

MAINE AND EASTERN.
The Massachusetts committee on railroads,
Representative Wyman of Hyde Park, dis
senting will report the following bill
Section /. The Boston & Maine railroad is
hereby authorized TO acquire by purchase IN. NE
road Company on such terms as may be agreed 10
by the respective boards of directors of said cor
pOration and as shall be approved, at MEETINGS
called for the purpose, by the votes Of majority
in interest of the stockholders OF said Boston a
Maine railroad, and by the votes of a majority in
interest of the holders of the preferred stock ana
of majority in interest of the holders of the conf
mon stock OF said Eastern Railroad Company,
and by the board of railroad commissioners Al
ter such acquisition and purchase from said East
ern Railroad Company said Boston Matne rail-
road Is authorized TO acquire by purchase tne
road FRANCHISE and property OF the Eastern rail-
road in New Hampshire, and of the Portsmouth,
Great Falls & Conway railroad, on such terms as
may be agreed to by the respective boards OF di-
rectors Of the purchasing and selling corporations
and by the board of railroad commissioners
and by the votes OF a majority IN y interest
of the stockholders (other than said Boston "
Maine Railroad of the selling corporation. For
the purpose of facilitating said purchases, and the
equitable adjustment of the interests of stock
holders of the purchasing and selling corpora
tons, and to carry into effect any agreement or
agreements made as hereinbefore authorized the
said Boston & Maine Railroad may Increase and
issue its capital stock to such an amount. In such
manner as may be required by such agreement or
agreements, and as the Board OF Railroad Com.
expedient to carry into effect the provisions OF this
act; provided, however, that If its capital, as so
increased, shall exceed the amount of the capt.
tails as now existing of itself and the selling cor
poration the dividend paid thereon from the time
OF each purchase OF the corporate franchises ana
property herein authorized shall not exceed an
average OF o per cent per annum on the amount
of the capitals as existing of the corporations
we up e. tnat Se nave united n ae R .e psTS
may make any portion OF Its capital stock as III
ready existing, or as increased under the proyls'
ions of this act preferred stock, entitled TO dVl-
dends upon such terms of entire or partial prefer
ence as It may determine, and, after having pur-
chased the road, franchises aud property oil sald
Eastern Railroad Company, may purchase the
stock or any part thereof OF said Ports
mouth Great Falls aud Conway Railway, and in
payment therefor may issue, subject 10 the APP
prOyal of the Board of Railroad Commissioners,
and sell its own stock, or exchange the same Tor
stock, or exchange the same for the stock OF SAID
Portsmouth, Great Falls and Conway Railroad.
From and after each purchase OF the corporate
franchises and property herein authorized SAID
Boston and Maine Railroad shall have and enjoy
all the privileges and franchises heretofore had
end enjoyed by the selling corporation, and shall
be subject to all its duties debts, and liabilities
and may assume the same by guaranty or other
appropriate contract; provided however, that no
dividend shall at any time be declared by said
Boston and Maine Railroad in excess of an aver
age of 10 per cent per annum on the amount of
the capital as now existing, OF the Boston ana
Maine Railroad, and the capital as now existing
time of declaring such dividends have been pur-
chased by the said Boston and Maine Railroad
under the PROVISIONS OF tlllS dcb
Sect. 2. Savings banks and institutions for saw
ings may subject to the provisions Of article = OF
section 20 of chapter l16 of the Public Statutes,
invest in bonds or notes of said Boston Maine
railroad, issued according to law, n0twlthstan1-
ing any mortgages on that part OF It's railroad,
franchises and property formerly Delonging 10 bne
in New Hamsshire. or the Portsmouth, Great
Falls and conway Railroads.
Sect. 3. Whenever the purchases OF the corpo-
rate franchises and property authorized by this
act shall be effected, copies OF the votes OF the
respective corporations asserting s;s to the same;
rations, shall be filed in the office of the Secretary
of State
Sect l. Nothing in this act shall impair any
rights or interest the Commonwealth may have in
SAID Boston & Name Railroad and said Eastern
Railroad companies.
Sect. 8. This act shall take effect upon its pas
sage.
The favorable report at the State House
upon the consideration of the Boston d
Maine and Eastern served to advance East
ern from 1919 to 124. The bill in the main
gives all that the roads desired, and will en-
able the Boston d Maine to issue two shares
of Boston u Maine at per cent in exchange
for the present 10 per cent stock.
MAINE CENTRAL RAILROAD.
When passenger trains are approaching all
terminal stations, or junction points. as at
Vanceboro, Oldtown, Bangor, Mt. Desert
Ferry, Bucksport, Newport, Dexter Burn
ham, Belfast, Waterville, SkowhegaD, Oak
land Leeds Junction, FarmingtoD, Lewis
ton, Brunswick, Bath, Westbrook Junction,
Congress street, b. & M. Junction and Port
land, brakemen, in addition to the usual an
nouncement, win also say: 'Do not leave
your umbrellas or packages in the car.
When trains are approaching Bangor from
either direction, the brakemen will announce
'Time for breakfast dinner or supper, as the
case may be-; also, Telegraph office in the
station"
On arrival of the train at terminal stations
brakemen must remain standing at the car
steps until all passengers are out OF the train.
Conductors will see that their brakemen fully
comply with this order in every respect.
The new Maine Central time table, which
is to go into effect April I'd, is meeting with
general appreciation. Letters praising it in
the highest terms have been received from
many parts of the country. On and after
April I'd, trains will run so that passengers
leaving this city in the morning can reach
any part of the State through which the road
passes the same day. A number of letters
have been received from persons along the
AndrOscoggin expressing satisfaction with
the train accommodation to be furnished
when the new time table goes into effect.
Then train will leave this city at S.35 a. M
for Pennington and return the same day, so
as to connec. with the 6 p. M. train for Bos-
ton. 1t will also be remembered that the
Bath, Rockland and Augusta train which
now leaves at 7.O5 p. m. will then start at
6.45 o'clock.