Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1919-06-20

diner Railroad Company and Of the
Lewiston. a''----- and Waterville
Street Railway and il was an6 il
the duty Of its receivers ID apply
the earnings Of all the properly Gov
eFed by said mortgage including the
portion thereof extending rom Al
gusia TO Gardiner, to the payment o.
the expenses necessary 10 operate
and maintain the franchise ami prop
erry covered by said mortgage and
unless il APPEARS tha. the earnings
and profits of all Of said property
ara insufficient 70 pay the expenses
Of said 7-eration and maintenance
this court cannot order its receivers
TO discontinue The operation and
maintenance Of the part only of said
property described In said petition.
The petitioners have nor only fail
ed 10 show that the earnings and
profits of al of said property ara in
sufficient for the operation ana min
tenaacs Of sad property but have
sought only 20 show tina, the earn
inEs anu profits of the par only de-
sc''bed n SAID Position are insult
clenf 10 operate and M nfaIn SAID
par If sad property.
Second: Because me charter Of
SAID railroad company Chapter 5as
of the Pr1ve-a and Special Laws Of
1SseN posed upon said COMPANY d
nantiaf~--- duty TO maintain the OPP
Grafton OF said rallroad for Inc con-
V7N-ance Of 02~-ar-e-s md said dtYl
was a part Of its franchise: tha.
SAID mandatory duty was d duty of
SAID Lewiston Augusta and Water
vile Stree, Railway and Of salt!
receivers
That the aforesaid bonds secured
by SAID mortgage We're issued ana
accepted by 80 ~<oresald bunuhoid-
ers n reliance upon sad duty being
part OF sand franchise
That I'd duty being mandatory
this cnur- ca-ror order said railroad
20 discontinue the performance there
OF over part Of said property AND
franchise and cannot do SO where il
does not appear that the income ana
profits Of all Of me property covered
by SAID mortgage are insufficient 20
pay the expenses Of the operation am.
maintenance OF SAID properly ana
franchise.
Second Motion
Ana now comes the Augusta Trust
Company, trustee under indenture ol
mortgage given by the Augusta
Winthrop and Gardiner Railway
dated MAY 10. 1897. and also r1-us
tee under ne .ndenTure of mortgage
given by SAID railway, dated Fepru-
AIRY !. 1905, and The bundholders Sc
cured ny said mortgages IN this cour.
represented and move that the Pc
tltiun OF the RECEIVERS for authority
TO cease operation Of the line oerwee,,
State street n augusta ana Ine
Maine Central Eall;oad station II
Winthrop be dismissed.
Because il WAS the duty Of The
said Augusta Winthrop and Card =
ner Railway and of the Lewiston
Augusta and Waterv-.lle Street Fail
way and Il WAS and IS the duty OF
its RECEIVERS 70 apply the earnings ii
all the properly covered BY saiC
ll1DI-L--IEaS. LlCiUCNls LIE lfDTI-pIl
thereof extending from Augusta tc
Gardiner 70 the payment Of the ex-
penses necessary 20 onerate and
maintain the franchise and propeY-y J
covered by snld mortgages and un-
less II appears thar the earnings ana
profits Of all OF said property arg
insufficient 10 pay the expenses Of
SAID operation anu maintenance this
court cannot order its TecelVers Z
discontinue the operation ana main
tenance Of the party only Of said
properties described n said petition
The petitioners have not only fail
ed 10 show thar the earnings ana
profits of ~'' of SAID property are in
sufficient for the cne-atiun and main
teaance of said property but nave
sough, 0niy 10 show that the earn
ings and profits of the part only de-
scr1bed IN SAID petition are INSULT
cienr TO operate and maintain saio
part Of said property.
Attorney Mansr Argues
ATTORNEY Benedict F Maher APP
pearing for the city of Augusta. made
- .
he STAGED ma. by The charter given
The road TO operate, i was as an
other avenue Of travel and thai the
charter was founded IN a cont-nc.
between the State and the corpora
ton and that n return for the priv
ileges granted there were certain du-
mes encumbent On corporations Of
that type until excused by the pow
er that created II n the State. He
discussed the law applicable 70 ne
case and cited a number If cases for
authority. Ee cited a long list of au-
ttorities N support Of the proposition
that a charter such as this is con-
t-ac, and quoted from a number Of
cases where the court explicitly de-
c,a-ed that corporations having OBJ
tanned the grant Of franchise from
the state could not abandon or cea sc