The Somerset reporter., 1906-09-06

entirely In the interest of the Cana
dams as against the interests OF the
State OF Maine wherever they FLASHED.
1t was a great undertaking to build
this road into the wilderness. The
all important thing was to be able to
secure the necessary funds.
In order to accomplish this, the pro-
jeetors must necessarily have aid. The
plan proposed was for Aroostook
County to aid In the construction OF
the road by subscribing for the pre-
ferred stock at the rate of 100000
mile. Aid was then asked of the
State.
The State of Maine. in common
with many other states in the Union,
recognizing the duty which rested up
on 1T to provide proper means OF
transportation for its citizens, had aid
ed In the building s,r roads. Many
towns in the State had contributed
literally toward the building of some
lines. The government of the United
States had contributed largely toward
the building of the Pacific roads. And
when the Bangor & Aroostook road
came asking aid, 1t was conceded that
no better investment could be made
for the State than to do its portion
towards securing the building of this
road.
No direct contribution was asked.
a period of years as might be neces-
sary to build up the road and develop
the country and Its business was
sought.
Everybody understood that 1t was
exemption from taxation which was
asked; but in view of the constitution
al provision in regard to taxation, some
members of the Legislature thought
that 1t would be better to grant the
taxation In the form of contract Of
some kind with the road.
Carrying out this idea an act was
introduced. authorizing the State
treasurer to contract with the road for
the carrying of troops at price to be
paid to ii yearly equal to 95 per cent
of whatever tar the State might levy
upon the railroad. This plan met with
universal approval and the act was
passed for the purpose and with the
full understanding that 1t was to re-
suit in an exemption for the period of
the contract.
The Legislature which passed this
act contained many strong men. The
dean of the house was Maj William
Dickey of Fort Kent. lifelong Dem o.
cratic warehouse. His interest in this
measure was great, and he used all
his great influence in the Legislature
to secure the passage of this act
One OF the promoters OF this road who
came to Augusta and was active in
Ills tuNOCaCy Oh Tic Was hAhS
Hon. J. p. Bass of Bangor, lifelong
Democrat.
In the Legislature of 1891 Col. Chas.
Fl. Osgood OF lewiston was member
of the railroad committee to which
was referred the bill authorizing the
contract with the Bangor & Aroos-
took for exemption from taxes. This
measure had the active support of Col.
Osgood lie has long been prominent
in democratic councils. delegate to ma
tional conventions. and Is rich stock
holder and officer In the corporation
publishing the McGillicuddy organ in
Lewiston and was prominently mem
toned as democratic candidate for the
Legislature from Lewiston. this year.
The proposition came before the
Legislature as business proposition
Party lines were not drawn nor
passed. without dissenting voice or
vote OF Democrat or Republican.
But this exemption from taxation
was not enough to secure the building
of the road This afforded them no
ready means. but only aided them In
operating and developing the road
after 1t was built To secure the
County of Aroostook subscribed for
the preferred stock at the rate OF S..
10000 per mile. Whether or not the
county should take this action. was
submitted to the people of the county,
who voted on II. The result of that
vote was 5201 yes. and EOS no. Here
again no party lines were drawn. 1t
was a simple business proposition
whether or not the benefit to be de-
rived by Aroostook County was worth
the expenditure. The larger towns
and business centres, containing men
who appreciated what the road would
do, were almost unanimously in favor
of the road. In Fort Fairfield the
vote was 402 yes and no; In Presque
Isle, SAB yes, and ] no.
Under the authority of this vote the
county Of Aroostook purchased and
paid for in cash at par preferred stock
to the amount of almost three-quarters
of million dollars. $72S.000.00 to be
exact. The county Issued its bonds to
raise this money, and paid interest up
on these bonds for years at 4 " per
cent. receiving no dividend upon the
preferred stock, until 1901. when the
railroad company purchased the pre-
ferred stock under a contract from
which the county has received sum
sufficient to pay the interest on its
bonds since that date, and will eventu-
ally be reimbursed for the original eX
penditure.
Aroostook County has never com
planned of the trade 1t made. The
$50, 10000 or more in interest money
which 1t paid during those ten years
for the sake OF obtaining the road. has
been offset a hundred fold each year
by the Advantages which the county