Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-04-10
Stockholders Asked to
Approve Group Be-
lieved Will Better
Existing Financial
Condition of ROa d
and Regain Some of
Lost Confidence

A communication was mailed last
night to the owners Of the security
obligations Of the Maine Central
Railroad Company by a committee
representing the signers of the recent
letter to the stockholders suggesting
the selection Of a list Of directors at
the annual meeting Of the company,
which will be held April 16.
The letter is as follows:
ITO the Owners Of the Security
Obligations Of the Maine Central
Railroad Company;
owing to the marked decline of
the financial condition Of the Maine
Central Railroad Company during the
past five years, 1t has shown itself
unable to pay dividends on its pre-
ferred or common stock. Because of
this the committee representing the
signers Of the recent letter to stock
holders believe it would be not only
the privilege but the duty as well,
not only of the individuals who are
owners of such securities, but OF the
trustees of all institutions which are
custodians of the savings and proper
ty of others, savings banks, trust and
insurance companies, institutions and
estates, to take it upon themselves
to at least attempt to improve and
make better the present unsatisfac-
tory conditions.
''rhis was the sole object Of the
stgners of the letter recently sent to
the owners of the common stock or
the Maine Central Railroad Company.
they being the only ones to have the
right to vote at the annual meeting
to be held on the 18th. instant.
"Weibelieve it advisable that some
changes in the personnel OF the pres
ent board of directors be made. feel
ing that by the injection of new blood
into the board. it will result In re-
gaining some of the lost confidence
In what we believe to be the most
valuable and essential asset OF our
state.
1--WE invite and sincerely hope that
every custodian as mentioned above
and every individual owner or the
Maine Central Railroad Company OBJ
legations will join with us in an en-
UeINOr 10 DetleE Tie cAiotih6 hht'i>A'-
condition of the railroad company.
"That the stockholders of the ROAD
may know our plan. we would sub
nit the following as a list OF men
whom we deem 1t advisable to sup
port as a board of directors at the
annual melting. feeling that this list
gives fair territorial representation.
and feeling that il elected the board
will consist of men. active. independ-
ent and competent, and who will en-
deavor to conduct the affairs OF the
company in n safe and business-hk
manner men in whom we have con-
hdence and to whom we are WILING
to submit the management or the In =
terest we represent: Charles IL. BARI
lett of Bangor. and Hugh X. Chaplin
OF Bangor. Amos X. Butler Of SHOW
hogan, William T. Cobb Of Rockland,
Percy V. Hill and George E. Macon
her OF Augusta, Hiram w. Kicker OF
Poland Spring, Arthur ]. Roberts OF
Watervlle. Samuel Stewart OF Lew
iston, Frank d. True. Hugh j. Chris
holm. Robert Braun, Maurice McDon- :
aid and T.. B. Winslow OF Portland
and Alfred X. Ames Of Machias.
The communication to the owners
OF the security obligations is signed
by Albert II. Shaw of Bath, chair
man. and Franklin r. Chesley OF Saco
secretary.