Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-05-08
WILL VOTE MONDAY
Washington County Will Then
Decide Railroad Sale.
County Commissioners Preparing to
Send Statement to People.
Danger of Mortgage Being Foreclosed
If Sale Is Not Made.

Calais, Me, May Z. On Mon
day next, May II, the voters
of Washington county VIII be Gale
upon to decide whether or not they
will accept the proposition made by
President Whitridge of the Washington
County Railroad, for the purchase of
the preferred stock held by the county
in the road named, the par value of
which is 100000. The position of the
county commissioners is set forth in
the following circular which will be
issued to the voters on Friday:
ITO the voters of Washington county:
You will be called upon on May IL
to vote for or against the proposition to
sell the county's stock in the Washing
ton County Railroad.
by the law it was made our duty to
consider any proposition for the sale
and if we thought best, to submit it to
your votes. We deem it our duty to
state to you the facts which led us to
submit the proposition of Mr. Whit
ridge. He was one of the original own
ers with John G.. Moore and Senator
Brice. The two last named owners
have died and Mr.. Whitridge finds him
self unable to carry the load alone The
county owns 100000 of stock in the
railroad which is subject, however, to
l mortgage on which there is now due
nearly 100000 the railroad not hav-
nS paid any interest since it Was built.
This mortgage constitutes q fist claim
IN all the property of the railroad, and
must be paid before the county stock
AN have any value. The earnings of
The road are not sufficient to pay in
crest on it's debts and operating ex-
penses, and the parties who hold the
mortgage say they must sell the road,
md in order to do so they must either
'orcclose the mortgage and take the
property or else buy out the 6ounty's
stock.
We have consulted eminent legal
'ounsel outside of the county, and who
have no possible interest to affect their
opinion, and we are informed that if the
mortgage is fOrcclOSed the county can
not expect to receive one dollar. We are
satisfied that this is the case. Fore
losure proceedings have already been
commenced, but not to affect the propo-
iitiOn to pay the county for its stock in
ase the voters accept the proposition.
The proposition is to pay the county
900 in any event, with 4 possibility
hat more may be paid if the road can
We disposed of to some other road or
any mortgage can be made for a less
mount.
IF we vote not to accept this propo-
'itiOn the foreclosure will proceed and
he county will receive nothing, but the
Dad will pass into the hands of new
owners buying it under the foreclosure
ale, and all the existing stock will be
wiped out. Under these circumstances
t seems to be question whether the
ounty shall take what it can get, or
tote no" and get nothing.
This proposition was received by the
county commissioners on April 6. BY
he act of the Legislature approved,
March 10, it became our duty to first
all together the Washington county
delegation for the time being to the
hem. The meeting was held at Ma
'hias on the 18th of April, and the full
delegation was present and after Il full
md free discussion of the matter. the
commissioners and delegates acting
Jointly voted, 10 to 2, to approve the
IF the county.
Geo. II. Coffin, S. G.. Spooncr, J. B.
Mutt, county commissioners"