Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-03-06

o6ef. un1oas1nnA ~ 4 = e2aimeA ~
eill snilaR u sAis has asae ehseaah q
lseisla1afss el Nsv HanpsAase eni -
eaehussels an1 that , nnss - thfsaeA =
ksisla1re II Aains. bsisg Z eeseuERea
chapter. also andssseand. Sren ~ san
soefce e-Ths pubiia psess - tAls lseia
laztes b ~ oeAos d Massachusetts, -
Vsfnent vas assisesd through tssss vaRs
go iesislasarss b 1eaas lhAt ars psrhap
nes pfcpef - - censi6ersd h leeislaaiv,
halls Whsthsf THE nay be Tres q ~
navs no peRsonal knovlsdes; bat I -
there b - Fsasoa vhy shs lseislatar'
Of Maine should pass . bill b.
cause The lssisls'rsss q Mos
achusetts and Nsv Hanpsairs havs
pAsssd h. IL " y nss n II
t.tsfests ef the people of ibis oeass. Ths
Boston . Maine Railroad iseas tile sock 4
Par 70 the present sscckholdsfs I Do no.
knov what these faaes vould b. worth "a
the pfessnt stockholdsfs Who hold III
q 100000. II skis 10 done Il vonA pa,
~ .OoO. COO IN IT, treasury, ard IL ths eeocA
sold q 800, it would put eS 00o. 600 10 ths
pockets OF ths psesent stockholdsfs. Nov,
l am not hsfe. elected b.. the people Of
Asnnebec cnuuty, 70 leSislaao . p0t
- 900 600, In The pockets of Fsaak Jones
ct PoResmoasA and his associates. Il has
been urged that the vidovs and espha {
who hold the stock ef tits COMPANY through
Maine and the other seates In Ns1 Englsnd
sers interested In this bill. They
nay oe % to . certain extent
But. geot'enen. this magai0csnt lobby
that stsnds u oar house, rspresentine
this gigantic corporation, that he's iss hands
In three foufths Of the leglslssisn ve ass
snactins at this session 10 not paid By any
widows and orphans In this 0tats and /
want the Legislature to know that know
thst 10 not their purpose or business here.
l Say there IL no reason vhy Q member Of
the Legislature should vote that %, 900 900
Of STOCK may be issued 70 The Boston q
Maine Railroad 1t par. which I heard Mr.
Putnsm say, ~i,h own eass, would not
be done; and when h,s attention vas called
BY the gentleman rom Portland In commit.
tee TO what be meant BY that line 1.-THE i'm
mediate purposes for which this steck 10 to
bs applied are - follows," said that
that language was not intended 10 cay 70
cay to the Legislature that IL vould MOI bs
issued as par, IL was only to Say what might
be done with II Ard that be - Q gentleman
Of high honsr would give no guarantee o.
to whst the Bpston ( Maine would or
would not d.. I respect Mr. Putusm, .
h'shminded and honorable man ~ he 10,
that that wss his cousse before the lesis-
iA.ive committee end that he would cav
nothing to the contrary aud l can only re-
spect my self - Legislator when I stand
up in my place and offer this amendment
ard make these remaYks that do protest
against increasing The cap tai stock OF the
Boston Z Maine Railroad for sny other
purpose except the fosd itself am will.
ing to sit here and grant charters for rail-
roads until June II in the interests Of the
p,ople of Maine,
l have not heretofore objected to the
granting Of any charter at th,s session, I
am wiling to do any thirg to develop the
railroad intefests Of this State. II the
earning Of the Boston 1 Name per cent
in 1853 and pr cent in 1880 on thsif
common sIock are 90 great that they and
it necessary TO have . larger stock upon
which to divide their earpiogs. I still see
no reason Why should legislate la such
wy that they may put this magnificent
$5 600 600 in their products II 10 said the
property cannot be divided. but 1t makes
no difference. The Stockholders Who own
it, own il after the q, 600 900 10 put In
their pockets. Gentlemen, that 10 true,
but the public has IN interest 10 oil railroad
corporations The people Of the Siate Of
Maine have "a interest in every railroad
that runs into the State. You cannot wink
1t out Of eight, and no legislative lobby yipg
that infes,s the Maine Legislature can get
outside the well-established doctrine of the
courss Of this country. that there 10 public
side to every corporation ard that the pub
lie have right to be heard. That they
are not heard in our legislative halls in pro-
por ZION to the railroads themselves 10 .
lamentabls fact 10 my jadsmsnt. But
wha' ever may be the facts In regard 70 the
representations Of the people in
these halls. the representatives. Of
the Boston and Maine and it, various
branches and smaller roads are represented
1t they want to declare . dividend, let them
declare it In each, 30 the people can zee the
earnings Of the Boston & Maine Railroad.
Let the people see whst they are taking
out Of them for the service they are giving
Let them zee II the public receive Their
fsie share and proportion. Let them de.
clare 40 or so per cent to the stockh ldefs.
II the Boston Z Maine Railroad declare Il
l have 10 obj ction. But ~hen
) on |, a,ts the stock e5 600. 600. IL will be
dur 9 in the face Of every Legislature that
ou cannot deny that you must pay the
fair earnings at fair rate per cent-the
earnings on the capital stock and bonds.
But You have got to face In the future the
earnings Of e5 900 600 more stock y hen only
one half goes into the treasury, or in that
proportion. cay the public has . right to
know Whist railroads coss Il 10 urged,
their charter 10 peculiar charter end they
have right to earn II per cent. before II
can be inquired into. Suppose they can.
viii they not meet you - today, on every
question Of State regulation or control,
with the proposition that you must pay the
interest on their capital stock and bondsf
I say, IL the Boston & Maine Railroad
wishes to do just what IL published TO the
Msine Legislature il would do. Just Whist
the bill that came from the committee said
they would do, they can do no better BY
the people Of Maine than submit
to the amendment I propose. l know
not what will be the fate Of the amendment,
have An idea IL vii be voted down; It
say cannot 90 home and ssp into the
streets Of Kennebec county ard face any
Intelligent man having voted, aye. More
than that not having protested that this cor
porstion tr any corpO alton situated - this
10 should be required to deal fairly and
sqasreiy with the public have ssid in .
few words ali l intend 70 cay to cover this
que'tioD. The people have Fishts in these
matters. This il not demagogism, In this
enlightened day. No man does his duty
until he admits that that The public eide Of
all failr0sd ques'ions should have . fair
pres~n,aiion and be fully ventilated before
every legislative tribunal ct which IL shall
be tried
Mr.. Moore Of Cumber isnd-This 10 Q bill
which rsquired the concurrent action Of
tsree Lssislatafes, those Of Massachusetts,,
New Hampshire and Maine. II hes passed
the Legislature Of Massachusetts, and re
ceivsd the signature Of the Governor. II
has passed the Legslature Of New Hsmp-
shire and received the signature Of III
Governor. and the amendment which the
honorable Senator from Kennebec o6eSs Il
merely 70 Hill the bill; that 10 ~ n G..
For II this amendments IL adopted BY the
Legislature Of Maine the actions Of the
Legislstafes Of Massachusetss sud
Nes Ha@bshire are null and void,
and therefore hope that this
amendment By the senator from Kennebsc
viii not b. parsed. A. 70 the uss Of this