The Portland daily press., 1899-09-23
He Comments on Future
of Road.
Its Relations With Boston g.
Maine a Source of Strength.

Bangor. September 90 -President
franklin A. Wilson Of the Maine Central
ated 30 the Bangor Commercial today
that he should resign HIS position as pres
ident of the road at the annual meeting
of Incorporation in Portland, October
Is. He said:
'My reasons for this action are purely
personal. One hour before was asked TO
assume the postum of head Of this corpo-
ration / had never dreamed of such con-
nection with the company.
81 had long been its counsel, and was
for one year on the board Of directors.
accepted the new position with the idea
that should not care TO fiji it for more
than i've years, as 1t was an interruption
to well-uonsidered and long-oherished
plans OF life and business.
"Whan the time arrived last year. which
l. had fixed as the limit of my service. /
be relieved, but was induced for what
seemed good 4 and sufficient reasons to
remain one year longer. which time has
now arrived. N
"My relations have been OF the most
agreeable nature with my assoclats direo-,
tors, and especially SO with the general
manager, with whom have necessarily
been brought into the closest contact.
'srhe heads of the different departments
together with the subordinates, have
performed their duties which brought
them in contact with me in the most sat
isfaetory manner.
"My duties have called me away from
home to the city of Portland where the
general offices of the company are located:
large portion of the time, and the COR
duality aud hospitality which had re-
csived there have gone long way to of
set tediousness OF travel and prolonged
absence from home.
II Know that the Maine Central rail-
road has been managed for the interes
of fits stockholders. an with an honest
desire and intention to promote the in
terests of the state of Maine and its In
habitants, and as have no doubt that
it Will continue to be so managed in the
future.
"This leads me to say that know that
tears have sometimes been expressed
that on account of the ownership of a
majority of the capital stock of the COM
pany by the Boston s. Maine railroad.
this road might not be managed In the
interest of the state of Maine, from
which 1t derived its charter rights.
81 have neen in a position to know
whereof / speak. and 1 affirm that this
is a bu9bear.
"The ownership Of a majority of stock
by the Boston s. Maine railroad, Is so
far as the minority holders Is concerned,
a very favorable factor of their holdlngs
This ownership is giving such favorable
traffic arrangements as could hardly
be hoped for If the Boston 81 Maine, in
making large concessions. was not at the
same time largely benefitting ITSELF
s'In all the efforts that the Maine Cen
trail has bean making for the development
of the business of the state Of Maine by
encouraging corporations and individuals
in extending old business enterprises and
inaugurating new ones, the strong hand
OF the Boston & Maine has always been
felt for aiding all forward movements.
1.-THE management of that road seems
TO fully appreciate the fact that its own
future development must be largely in
the territory of the state of Maine.
''In my opinion today. the relat ions Of
thesa two large corporations is AN element
of strength and not of weakness TO the
smaller corporations SO that Its bonds are
eagerly sought for and boarded by saw
ings banks, trust and insurance com.
panies, and its capital stock is in demand
at price higher than l supposed 1t
would ever command.
''In voluntarily retiring from the presi-
dency do SO in order t, tighten my own
burdens, and leave myself more freedom
tor the performance of professional and
social obligations which have first
claim upon me- 20