Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1903-12-23
w. G. r. R. SOLD. 7
50, 100000 PAID FOR THE DOWN
EAST ROAD.
ONLY TWENTY PERSONS PRESENT AND
ONLY ONE BID-PRoMPTLY ACCEPTED
AND FORFEIT DEPOSITED.

The Washington County railroad was
sold Thursday, Dec. II, at public auction
to +. W. Whittridge, OF New York, presi-
dent of the Washington County railroad
company. The price paid was e, 800, 900,
| the upset price fixed by the United States
circuit court.
Only twenty persons were present, and
but one bid was made, that by President
Whittridge, which was accepted.
SURPRISE TO MANY.
1t was thought In Hancock and Wash
ington counties, and, in fact, throughout
the whole State that the Maine Central
| would take over the Washington County.
When the road was built 1t was said that
the only way to make 1t paying invest
ment would be for the Maine Central to
take it over, and up to the time Of selling
the road 1t looked as II this was true, SO it
came as a complete surprise to many to
have the road come back into the hands OF
practically the same board of directors.
Washington county is large county,
and it has lots OF resources, but the one
great trouble Is that IL has 1853 miles OF
seacoast. This, OF course, goes against
the road, as large amount of the freight
is shipped by water. But this is being
gradually overcome, as people are patron
iziDg this road more and more every day.
The business OF the road has been increas-
ing every year and is still gaining.
Conservative railroad men figured that
the taking over OF this road by the Maine
Central would greatly reduce the running
expenses and hence the freight rates. 1t
woulu also be able better to compete with
the various steam boat lines. Better rates
could be offered to the shippers where the
haul was all over one road instead of two.
Where the hauling is over two roads both
must have slice of the rates; hence the y
are high.
Many along the line of the road had an
idea that the road would begin to pay
dividends at once. If 1t did not pay divi-
dends the first year, it was expected at
least to pay the interest on its bonds, and
also to pay its expenses. When 1t did not
pay the interest and expenses, and the
Central trust company, OF New York,
ordered foreclosure, wise men nodded
their heads, rub bbed their hands and said
the fate of the down east road was decided.
But things look different now!
PRACTICALLY OLD MANAGEMENT.
All these speculations are now knocked
in the head by the buying of the road by
F. W. Whittridge. Mr.. Whittridge was
the president of the Washington County.
and in buying the road he deposited
che elk of SIS 900, besides the $25, 900 in
| bonds that were required by Judge Put
nam, to make his bid effective eimmediately.
After the sale a new corporation was
organized to be known as the Washington
County Railway Co. The business will
| be continued practically under the same
| management.
1t is now thought by many that the road
will be sub-let or leased to the Maine Cen
| trail.
Hon. Charles F. Libby, of Portland, who
was made special master by the decree of
Judge Putnam of the U. S. circuit court
at Portland July 6, 1908, conducted the
sale. According to his decree, Judge Put
nam found that the material allegations
| in the complaint of the central Trust Co.,
| OF New York, in the force osure proceed
| iags against the railroad were true, and
ordered that the road pay on or before
| Nov. IA last the sum Of S731 ,414.s6, the
| amount of the interest on the bonds with
accrued interest Failing to pay this
amount, it was ordered that the road be
sold by the special master at public auction
| at Calais to the highest bidder, the upset
price being fixed at $500 900.
TO BRIDGE THE ST. CRoIx.
| President H. H. Mclean, OF the New
| Brunswick Southern railroad, announces
proposed improvements in the road in the
expec, alton of an arrangement with the
| Washington County railroad by which
through line from st. John to Boston will
be established by way of the New Bruns-
wick Shore Line. 1t is said that the new
| owners OF the Washington County road
and the New Brunswick Southern manage
ment contemplated building a bridge
across the st. Croix river to connect the
| two systems. Tenders for 100000 ties are
being called for by the New Brunswick
| Southern.