Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-07-07
WANT ROAD EXTENDED.
Seoasiicook & Moosehead will Again Air III
Troubles in Court.

|
ticook a. Moosehead road to extern
it's lines $" that the line may be place
on paying basis will be taken at
hearing before Judge Whitehoust
| Monday.
| IhlS extension was started som
| three or. more years ago when Y. L
Lancaster had control of the road
| Work or construction was pushed be
| tween Hartland and Harmony unit
the rails were laid within a few mile
Of Harmony village. But then troub
les arose and the whole scheme wa
| knocked in the head by a failure o
finances The town of Harmony votet
| to grant q subsidy To the road, tn,
| money to be paid as soon as the roa,
should be in operation into the village
| But the money has never been pai,
| for the road hasn't been able to ger
| money enough 70 complete the line.
Some months ago the mortgage or
the road was fprecl0scd and the bond.
holders started in to take possession
Now the parties controlling the road
want to take step that shall give
them money enough to complete The
line IL Harmony s, that they can Sc
cure the money the town voted ana
get their road in OPERATION The pc
tition to the court states that William J.
Hayes is petitioner in behalf If All thu
bonlhnld"rs under the first mortgage
Mr.. Hayes Is Il Western man. Tn,
petition further states
That said Mercantile Trust Com
pany is trustee under said first mort
gage; that said Hayes is principal
beneficiary ana b lndholder therrunder
That said railroad has n Yer been com
n'rted T. tn village Of Harmony az
originally intended. nor even to an,
across Main stream sn-ralltl. adioin-
ing said Harmony. that ii is only com
pirttd 70 warrant the regular opera
ton Of trains to the villag. If Hart
land Int that a large amount Of
money has been expended between said
lihrtllni ana Harmony ana unless il
can ~ completed ana equipped 10
some proper terminal on the western
sid" Ot Main stream ~ in the village
Ut llartland said line must remain un-
productive ana b" Il practical loss:
that said proposed completion will
max" the now unfinished part useful
Tor business and largely Increase the
business ana profits Of the line between
Pittsiirld and liartland; That there il Al
50 needed the expenditure Of consider
able sums upbn the line between Pitts
field and Harmony. hat IN near as can
b, estimated the cXprnd turt III not ex-
c"riing $4,000 Will b. necessary for
the several purposes aforesaid; thar
said railroad is in charge Of Alvin +.
' "A
tn" net revenues fl m the operation Of
Stid road since MS appointment have
been NOR" than absorbed by rxpendi-
lures authorized by this court ana no
funds can BE- obtained from the opera
ton NJ said road for the foregoing pur-
poses: that the responsible parties viii
advance the money needed If the
court will authorize receivers GER
tittcatcs therefor: that hy decree of
this court the rights Of REDEMPTION I'M
der said first mortgage have been
ordered furcclosed sail foreclosure
having begun to run May 10. 1900.
me petitioner prays for proper
order under such safeguards ana re-
StrctionS ana the court thinks proper
said receiver or his stIc-
crSS"r ~ cius" reasonable expendi-
lures to h. made for the purposes
aforesaid ana to issue receivers GER
tiiicates to such parties az shall adj
Nanc" the needed capital. said ccrtifi-
Gates to b. in such form ana upos
such time. t"rms ana interest as the
court may direct and to be received
AMI accepted in fun payment of cap
ital advanced ana work done under
such decree AZ such valuation as the
court may fix. and further that said
certificates when issued shall consti-
tute first lien or charge against all
tn" property ana assets Of said rail
road now existing or to be built by
virtu" Of this petition ana that said
certificates shall take precedence of
tn" lien now existing under said first