The Providence news. (Providence [R.I.]) 1891-1906, 1892-01-15
THESPRINGFIELDB BONDS.
Vice President Howard's Remarks at
the Hearing.
THE CITY SHOULD CONSENT.
The Committee on Ordinances Hears the
Statements for and Against the Rein
dorsement of the Bonds of the Road To
Pascoag This Afternoon.

The hearing before the joint committee
on ordinances of the city council, on the
renewal and increase by the city of the
bonds Of the Providence and Springfield
Railroad, was held in committee room B
this afternoon.
The railroad asks that the Endorsement
by the city be increased from $500, 900 to
1000. and that the interest on these
bonds be per cent. hereafter instead OF
per cent as heretofore. and in considera-
tion for this favor the railroad promises To
extend the road from Pascoag, its present
terminus TO East Thompson, Conn.
This would bring the city into direct
communication with Southbridge, Mass,
aud other towns and cities in Southern
Massachusetts and Northern Connecticut.
The petition to the City Council is made
by the New York and New England Rail
road Company, which now leases the
Providence and Springfield road.
The first speaker was Vice President
Howard of the New York and New Eng
land railroad. He said that il was the
desire of his road to extend this line seven
and half miles, from Pascoag to East
Thompson, which would open up to the
city Of Providence new channel Of trade.
"By this extension" he said, you get
another route TO Worcester, another to
the West and later on to Springfield.
The New York and New England road is
not able TO stand this expense itself and
asks the city of Providence to guarantee
the bonds.
IL cannot see where the city runs any
great risk in giving us this guarantee,
which will be of so much direct benefit TO
the city. The additional railroads that
cluster in Providence increase trade and
do no harm TO their competitors.
"As you increase facilities for trade you
increase your population and everything
and everybody is benefited by it. We do
not feel able to market these securities
without your assistance"
Alderman McGuinness asked If the New
York and New England road would be
able TO meet the half million bond which
the city is now on for the Springfield road
when il comes due.
Mr. Howard thought the road would be
fully able
Alderman McGuinness asked why the
road asked one half the guarantee of the
cost Of this addition when in the original
road the guarantee was only one third OF
the cost.
Mr.. Howard said that the country
through which the extension would have
to be built was very rugged, and it was
one OF the hardest pieces of road TO build
that he had ever taken hold of 10 survey.
He promised TO furnish the survey figures
To show the cost of the proposed extension.
Councilman Aldrich introduced the foi-
lowing communication from the whole
sale grocers; THE undersigned firms,
representing the entire wholesale grocery
trade of the city Of Providence, respect
fully request your favorable consideration
of the proposition TO assist the Providence
and Springfield railroad in extending their
line from Providence to East Thompson.
1T is our belief that this extension, If
completed would be of great benefit TO
los.
country nearer 10 us than any other job
bing centre, the trade of which now goes
elsewhere, solely on account of the delay
and inconvenience OF reaching this city"
The petition is signed by Alexander
Brothers, Daniels, Cornell * Co, Whit
ford, Aldrich a Co. Brownell, Field &
Co, Waldron, Wightman q Co., A. Fiske
q Co. Whitford, Aldrich & Co and Others.
Another communication of a similar ma
ture was also presented, signed by Callen-
der, McAuslan a. Co, John McAuslan,
Shepard q Co., B. III. Gladding & Co.,
Daniels, Cornell s. Co, Aldrich & Alex
ander, Hartwell, Richards x Co, ;. $.
Wightman & Co., Mason, Chaplin Il Co,
II. l.. Rose * Co, Arnold q
Anderson & Son, j. II. Preston
4 Co, George Hawes & Sons, George +.
Young * Bro, Thomas 4. Peirce, Whit
lord, Alurich & 20, COnguon " Ayles-
worth, Congdon. Wilbur 81 Co,
Starkweather x Williams, Oliver John
son * Co., Chambers, Calder & Co,
Charles r. Lee Earl Philip Mason, j. B.
Mason Il Sons, w. a. Robinson 81 Co.,
ID. 5. Pierce & Co, S. Ii, Rockwell,
Hazard * Chaplin, +. B. Bright
man, Comstock q Co., j. III.
j. B. Sweet. ). Tourtellott & Co., w.
f. Barrett &, Co., Iilden, Thurber a. Co.,
Bugbee Thompson q Co, Owen r.. Leav-
ems q Co., John ;. Trip Jr., q Son,
Rhode Island News Company, Bland
ing & Blanding, Pomeroy Coal
Company, w. f. Carpenter
American Supply Co., Livermore &
Knight. &. IA. George * Co., Belcher q
Loomis. Bosworth q Aspinwall, Evans
Seagrave aud Mr. George ". Holt, :. II.
Lamb, j. u. Rhodes. III. T.. Smith & Co,
Clemence Brothers, j. Herbert Foster, ID.
bennington * Son, {. 3. Trowbridge,
Charles Fletcher.
Ex-Councilman Silas Manchester OPP
posed the ordinance. He could see 10
reason why the city should guarantee
these bonds any more than the bonds OF
any corporation desiring 60 extend its
business. The hearing adjourned at 3
o'clock.