Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-02-28

tion Il OF Snapter 81 or the EeyiSed stat
utes. for less than the par value thereof
III cash. or other consideration which m
the judgment of the railroad commissions
crs is equivalent thereto; and provided
also that said railroad company shall
not enter into any contract for the con-
struction of any extension to said rail.
road, or any part of its stations or equip
ments, with any officer, director or stock.
holder Of said railroad, or with any syn;
dicatc or partnership in which any OIL
Ger, director or stockholders Of said rail
road is either directly or indirectly in
tcrested; and provided also that said rail
road company shall not issue OF dispos'
of any of it's bonds, directly or indirectly
10 any person, syndicate or corporation
for the purpose of constructing said ex
tensions, stations, or equipments. withou
the approval of the railroad commission
crs. SO that said section as amended
shall read as follows:
Section l. All of the provisions of sec
tons one. two, three and four of Chapter
two hundred and twenty-five of the PEi
vate and Special Laws of the year nine,
teen hundred and three, is amended b.
Chapter seventy of the Private and Spe'
cal Laws of the year nineteen hundred
and seven, are continued in force and
extended for the period of five years from
and after the twentieth day of March in
the year of our Lord nineteen hundred
and thirteen.
Provided, however. that the Bangor 4
Nroostook Railroad Company shall not
hereafter issue am of It's capital stock
or dispose of THE same. to any person
partnership syndicate, or corporation, ex,
cept by public auction as provided IN Sec
ton q Of Chapter 81 Of the Revised Stat
utcs. for less than the par value thereof
in cash. or other consideration which IL
tile Judgment of the railroad commissions
ers is equivalent thereto; and provided
also that said railroad company shall moi
enter into any contract for the coust1uc-
ton of any extension to said railroad. OF
any part Of it's stations or equipments
with any officer. director of stakeholder
Of said railroad, or with any syndicate OF
partnership in which any officer. director
or stockholder Of said railroad is either
directly or indirectly interested; and pro-
yided also that said railroad company
shah not issue, or dispose of any of its
,onds directly or indirectly, to any per-
son, syndicate or corporation for the pur-
pose of constructing said extension, sta
tons or equipments, without the approval
of the railroad commissioners.
Mr. President, before moving that this
be tabled and printed with House Docu-
ment No. %. / will state that this amend
ment Is for the purpose of providing that
no, Ia @ the
construction of further extensions of the
Bangor x Aroostook Railroad beyond the
value represented by the actual cash ex-
penditurc for the extension. / am offer
ing it in this way first. out of courtesy
to the railroad committee. because this
amendment was not presented at thu
hearing Oh the original bill, and 1t is my
purpose to present il 10 the committee
informally and find Out whether they de-
sire to consider il, formally or Informal
ly, for il is never courtesy to commit
tee Of this Legislature to present IN the
Legislature itself all amendment or new
form of a measure which they have not
had an opportunity to consider. And in
this instance, il the committee object to
it, although do not know whether they
Will vi nut II ID tilCli hut tiidS thS. iAo ' I
an opportunity to consider it.
am Offering it In this way. also, out
of courtesy to the counsel of the Bangor
< Aroostook Railroad. III order that If
they object to it or desire to make any
changes in it they may have an oppor-
tunity to present their objections before
the committee or to members of the Scn-
ate.
| move that the amendment be printed
and the bill assigned for consideration on
Thursday. March second,
On motion by Mr.. Boynton uf Lincoln.