Ellsworth American., 1907-03-06

vfding for the use Of steam in addition to
electricity ~ . motive power.
Second, the right to lease or SELL the financ-
ing OF railroad like this Il NO small matter.
u involves round million Of dollars, and
probably more. The Mt. Desert Transit Co.
has $4,000 OF It's stock subscribed, but this ia
comparatively small part. It may be nee
essary to go into the money market to sell its
stocks and bonds. The possession Of the
right to lease and sell obviously adds to the
market ability Of railroad securities. MANY
railroad corporations have this r,eht; /
thought that the Mt. Desert Transit Co,
could safely be given the right that MANY
| other railroads have
laceordingly inserted provision author
izing leasing and selling, simply copying a
section contained in other charters. l wrote
TO the company to ascertain whether it de-
sired to apply for these additional
powers. and receiving the affirmative
reply introduced the bill. No director
or member OF the company suggested
to me that any further rights be applied
Tor. ! called the attention of the COM
pany to the possible advantage Of such fur
ther powers. My reasons were as above stated
and no other.
Many utterly fallacious reports have been
circulated. 1t has been said that this amend
ment means that the road will not be built.
II Is only necessary to say that legislation is
not-necessary for that purpose. Legislation
may be necessary to build road. None is
necessary to leave it unbuilt. The present
charter can be pocketed If the Transit COM
pany desire to do this just as we'll as an
amended charter.
1t Is said that this amendment means an
absorption by the Maine Central. There is
no intention on the part Of the owners of the
Mt. Desert Transit Co. to be absorbed. No
connection exists between the Maine Central
system and the Transit company. So far rs
know or believe, no talk has ever been made
on the subject between persons representing
the two corporations and that nothing is
further from the thought or intention of the
directors.
Some of the opposition to this amendment
Is based on misunderstanding, but some
undoubtedly understanding fully the scope
and purpose Of the amendment, object.
certainly shall not pose for the granting of
these privileges to the Mt. Desert Transit Co.
against existing public sentiment. The com
pany will not urge the passage OF the amend
ment. Ipresented the amendment in perfect
good faith. believe in its wisdom. but |
shall tomorrow ask the committee to report
adversely to it.
1t is not believed that the Withdrawing
OF this bill will affect the plans already
made for going ahead with the building of
the road.
The sentiment in Ellsworth is clearly
against any move that would involve the
building of any road between Ellsworth
and the Trenton bridge that did not touch
at Bayside, and that did not make the
landing here independent of any existing
line of steamboats,.
The Ellsworth board of trade was repre-
sented yesterday at Bar Harbor by John
o. Whitney, B. T. Sowle, Charles II. Cur
tis and o. W. Tapley.
In Hancock, and at all points below that
would be affected by the discontinuanee of
the Maine Central line from Washington
the bill is very strong. In these localities
it is felt that the granting of the privileges
asked for in the bill would, however re-
mote the probability, make it possible for
the Maine Central to get to Bar Harbor via
Trenton bridge, and discontinue its line to
the Ferry. Hancock was represented yes
terday at Bar Harbor by Capt. o. w. Foss
and others.
In view of the fact that the bill is to be
withdrawn, the agitation it has caused
has largely subsidized. Senator Deasy's po-
sition is clearly understood, and the ad-
verse criticism to which he has been sub
jected seems to have been hasty. Whether
people agree with him or not as to his
views on the wisdom Of the bill, they GER
tainly have no occasion to suppose his ac-
tion in the matter was other than open
and above board, and involved nothing
that in his judgment would not be of
benefit to his constituents.