The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1901-01-08

NNuN ElluIucA| W 4u| AIUut - AtAAAAA 80 v
ciass OF statesmen, who have long since
gone to the rear by general consent. ~
IL dsvoutly 10 be hoped that any nspiranb
for -uhlio honnra. who att,mnts 10 vital
lac those onsolete prejudicss for .ssifish
purposes. will be stefnly rebuked BY an
..ztsiiigent people.
ANNUAL REPORT, 1876.
Abner Coburn, President.
The indisoriminste and unwiss con-
struction Of competing and Unnecessary
lines, which have been operated In spirit
OK local or personal hostility has resulted
disastrously 70 all; and instead OF leaving
the vast sums OF money invested In the
stocks aud securities OF these corpora
tlons for the benefit OF widows, orphans
ana others who seek for safety rather
than large profits, widespread and ruinous
loss has result vi,
ANNUAL REPORT 1873.
Geo. Il. Il. jackson, President.
A widespread belief apparently exists
In the community that railroads are run
for the pecuniary profit OF those owning
stock In them, and that all the means
that can be employed to defeat their OBJ
taining this result are but the legitimate
weapons which should be used ny the
people TO prevent thsir Being over
whelmed by such powerful corpora
Investors In railroad stocks, have not
thus far found sucn profits from their
outlay as to induce them to pay out OF
their own pockets not only TO maintain
the road, but also TO support the Stats.
and. as consequences, any tax assessed
upon the property must result either IN
destroying the highway, or elss In In
s q the tax upon .hs pubic VINO 's'
II better counseIs prevailed, IL was due
20 the large number OF Intelligent men
Ia that body who would not be carried
away by thoss who desired 70 array the
State against these corporations, 90 as 70
break them down to suit their own sci
fish ends, and we nave no doubt that the
sturdy good sense Of the people OF Maine
viii always prevent any such destruo-
tive legislation from being enacted, esres-
tally when it isconsidered that such tax
alton would be In direct violation OF the
plighted faith OF the State.
1879.
We respectfully submit thu question
whether the people OF Maine can afford
to break down or impair the value OF the
securities OF this company, held so largely
throughout the State by citizens and saw
ings banks, for the sake OF any temporary
advantage arising from the collection oil
tax by the State treasurer. The saw
Maine Central securities, aud hold In ad-
dition s2s7, 500 as collateral, as appears BY
the report OF the bank commissioners Just
pm biished, and we estimate that at least
81, 900, ono of our bonds are owned by
citizens Of this stats.
1850.
The state OF Maine can hardly afford to
be oppressive in taxing a railroad TO
whose promoters it pledged its faith, in
vested In this enterprise should be- practi
oally free from taxation In any form.
1881.
This amount, with municipal taxes,
makes the taxes paid by us this year
nearly $50, 900.
Considering that this stock pays no
dividends to its stockholders and never
haslpaid any, this rate would seem 60 be
higher than that assessed upon other
kin1s of unproduotive property.
AS our bonds are also taxed by the
various municipalities 1t Will be seen
that the property of this company pays a
property In this State.
1889.
In closing their report OF the twentieth
year of the existence Of the Maine Central
Railroad Company, the directors con-
graduate the stockholders upon having
received during the year just closed their
tirst dividend upon their stock, divi-
dend OF two per cent having been paid
August 10Th.