The Portland daily press., 1896-06-02
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The Bangor News publishes a two
column article entitled @ Progress on the
Shore Line.' Portions of it are as fol-
lows:
President Curran says that work has
been resumed with all the force that can
that within o short time, probably two
weeks, operations will be in full progress
along the middle section between Jones'
boro and Cherryfield. He expects to see
the road completed from Maohias to the
Name Central and from Calais to East-
year, and entirely completed by Septen-
Der /, 1897. He has no doubt of it what
ever, and the other officials Of the COM
pany seem to share his confidence.
The contract for the construction Of the
road was originally let to George z.
Wescott and James Mitchell, both Of
Portland, but some months ago MIR. Wes-
colt became seriously i'll and the
physicians and his friends decided that it
would be useless for him, Is in his very
feeble physical condition and with his
numerous other business cares to attempt
to take any active part in this enterprise.
Accordingly Mr.. Wescott was released
from the contract and a new contract.
upon the same terms, was made last
Febr uary with MIR. Mitchell. This con-
tract is in every way satisfactory to tho
railroad company, and is regarded by the
able business men and lawyers who
co impose the board of directors as safe
and properly drawn document, in which
the interests Of the county are we'll
guard ed.
President Curran says that the road
will PROBABLY cost about So, 600, 600, and
that it will be bonded for. probably,
SIS, 600 mile. No financial contract
has yet been made. but arrangements for
the funds are likely to be completed very
soon-perhaps today. 1t is likely that
the bonds, instead of being sold now,
will be taken in one block and held by
syndicate, which will advance upon
them the money necessary, with the
county aid, for the construction of the
road.
Members of the syndicate that is ex-
pected to take the bonds made ton'
the line last week, in company
some of the officials and Ineetin.
soon be held in New FORK at Whlan.
is expected, the financial urrangoneuts
will be completed. Then, very soon,
there will be rapid railroad building in
Washington county.
AS to the country through which it
will pass being able to support railroad
to at least give it enough business
to pay fixed charges aud expenses of oper-
alton. there seems to be no doubt. Col.
j. N. Greene, whose accuracy as a Stats
tician is equal to his ability as an engi-
neer, has made an exhaustive inquiry in
to the subject, and he is satisfied that
the road will pay, from the start more
than its fixed charges and operating ex-
penses.
Preparations for the improvement is at
the entrance at Union station are being
rapidly pushed. A large gang of men are
busy laying the conduit which will carry
the electric light wires down A street
and under ST. John street to the station.
A broad plank walk is also being laid
across the lawn for the accommodation of
passengers while the changes are being
made.
The directors of the Belfast and Moose
head Lake Railroad company have de-
clared the usual seIni-annual dividend,
payable June /. The dividend is So per
share on the preferred stock and 81. 40 per
share on the nom preferred. The CITY of
Belfast being the largest shareholder will
receive about $4,000.
The abandonment of the Norway
branch of the Grand Trunk road by that
company because the road has been run
at a loss, and the taking of the business
by the electro road, which is paying be-
yond all expectations. may be but begun
ming of what we shall see n other locali-
ties-electrics for local travel and feeders
for the steam roads. and steam for
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