The Portland daily press., 1888-07-14
PORTLAND AND oGOENsBURG ROAD.
Full Text of the Lease Proposed to
Its Owners.
What the Maine Central are willing
to DO.

what the Maine Central are Willing
to Do.
A Document for Study by Portland
Citizens.
This Indenture made in duplicate thi.
day Of A. D., 1888, by and
between the Portland and Ogdensburg rail-
way, corporation existing under and by
virtue of the laws of the States of Maine and
New Hampshire, party Of the first part and
hereinafter styled the lessor, and the Maine
Central Railroad company, aeorporation exist.
ing under and by virtue of the laws of the State
of Maine, party of the second part and herein
after styled the lessee.
Witnesseth: That, in consideration OF tht
premises and Of the rents hereinafter reserved
to be paid by the lessee, and of the covenants
and agreements hereinafter contained to bG
performed and fulfilled by the lessee. the said
Portland and Ogdensburg railway does here
by demise and lease to the said Maine Central
railroad company all the railroad Of said
lessor located and constructed from the City Of
Portland, in the State of Maine, to the western
boundary line Of the State of New Hampshire
including all the right, title and interest Of
the lessor in and TO all railroads OF
parts Of railroads between Portland, aforesaid,
and Lunenburg, IN the State Of Vermont, con-
structed or operated by the lessor, and in and
to the railroad and bridge lying between the
junction with the Boston, Concord and Mon
treal railroad, in Whitefeld, in the State of
New Hampshire and said Lunenburg, and all
oh aa1 kwr l..
contract in any and all railroads forming any
part OF the through line from said Portland TO
Ogdensburg, in the State Of New York, with
all its rights of way, side tracks, branches,
stations. and station grounds, bridges, piers,
wharves and easements, and all its rolling
stock and equipment, all its franchises, rights
and privileges under its charters and the laws
of the States Of Maine and New Hampshire,
and all its right, title and interest in and to
all other property Of whatsoever nature and
wheresoever situated:
To have and to hold the said rail-
roads, property, estate, franchises, rights
and privileges and all singular the
premises hereby demised with all
the appurtenances thereof, to said Maine
Central railroad company its successors and
assigns for and during the full term of nine
hundred and ninety nine years from the
day OF in the year eighteen hundred
and eighty eight;
Subject to the provisions of all the special
acts of the Legislatures OF the States of Maine
and New Hampshire affecting the rights
privileges, powers and duties of the lessor, and
Of all the general laws of said States, now in
force or hereafter to be enacted;
And subject also to all liens and incum-
branees in any way lawfully existing upon the
same; especially to the mortgage from the
Portland and Ogdensburg railroad company
dated the first day Of November, A. ID. 1870 (;
the liens, debts and liabilities which have been
or may be created by Samuel ]. Anderson, of
said Portland. as receiver of the property of
said Portland and Ogdensburg railroad COM
pany, OF his successor in office; and to the
dues, charges and expenses Of the trustees un-
der said mortgage and under the mortgage from
said Portland and Ogdensburg railroad COM
pany dated the first day Of November A. D.,
1871; and any other mortgage on the de-
missed estate.
Said lessee yielding and paying rent therefor
for the first three years Of ssid term, at the
rate of one per cent per annum, on the aggre-
gate capital stock of said lessor company law
fully issued or to be issued, and for the re-
mainder of said term at the rate of two per
cent per annum on said stock. payable in
quarterly payments Hereinafter termed divi-
dends) on the last days of
of each year, begin
ming on the last day Of 1883,
at the office Of the treasurer Of said Maine
Central railroad company, as follows: during
SAID hrst three years, twenty-five cents, quar-
ter yearly as aforesaid, on each share Of said
stock, and after said three years and during
the remainder, of all said full term, fifty
cents quarter yearly as aforesaid on each share
to the several holders thereof, on the days
when such payments become due as aforesaid,
as shown by the books containing the names
Of the holders of said capital stock; but if any
of said stock shall not have been issued at the
time when first payment Of rent becomes due,
and shall thereafter be legally issued the holder
thereof shall then be entitled to receive the
previously ACQUIRING dividends thereon, pre-
cisely as if said stock had been seasonably
issued, and the dividends thereon had not been
paid.
This lease is made and accepted upon the
following further terms, covenants and agree
ments, viz:
/. The lessee is to maintain and operate, and
operate, and hereby for itself and its success
sors and assigns, covenants to maintain and
operate the railroads, property, rights and
privileges hereby demised, in furtherance of
the objects contemplated by the charters of the
lessor and of said Portland < Ogdensburg
railroad company in the States in which the
same is located and constructed, in pursuance
Of all the general and special laws of the States
aforesaid affecting the same, and in such man
ner as to promote the best public convenience
and advantage under said charters and laws
during the term Of this lease.
In operating said railroad the lessee shall,
and hereby for itself, its successors and assigns,
covenants and agrees that it WILL so far as
practicable, endeayor TO make such connections
and such traffic and business arrangements
with other systems and roads leading to and
from the West, that the leased premises shall
be operated as part of system of roads
doing through line business to and from the
West, and that it will use all reasonable efforts
to give to the City Of Portland as favorable
terms for such business, as are given to other
Atlantic cities.
And said lessee shall, and hereby for itself,
its successors and assigns, covenants and
agrees that it viii freely deliver to, and receive
from connecting railroads, passengers and cars,
with or without merchandise loaded therein,
and shall and will afford all reasonable facil-
ities at its connections with other railroads for
such exchange OF passengers and cars, and shall,
and VIII deliver passengers and freight to, and
take the same from connecting railroads with
out discrimination and all facilities and in
ducements reasonably within its power shall
be extended by the lessee, as to the use of the
lessons tracks on reasonable terms. TO the
Canadian Pacific or other railway company TO
make the city of Portland a terminus for its
through business and freight from'the West.
2. The lessee further covenants as aforesaid,
for itself and its successors and assigns that
It will, at all times during the term Of this
lease, maintain and keep the said railroad,
buildings, superstructures,e equipment and other
property hereby demised, and such as NAV be
substituted in place Of the same, in good and
substantial repair and condition, and will from
time to time make such alterations. i'm
provements and enlargements of said
railroad and its appurtenances, and such ad-
ditons to and renewals, of its buildings,
equipment, apparatus and other movable prop
erty OF every kind, as shall be necessary for
the safe, convenient and regular transporta-
ton, OF passengers freight and mails, upon all
and every part the line, and from and to all
the several stations of said railroad, so as 10
accomplish efectually the public objects con-
templated by the charters and laws aforesaid.
and to promote and sustain most benefcally
all the reversionary interests of the said
Portland and Ogdensburg railway.
3. The said lessee is hereby authorized TO
sell or otherwise dispose of, alter, amend and
repair any of the buildings, rails, equipment.
apparatus or other movable property, hereby
demised, or which NAV AZ anv time he usad or