CMQ for sale?

Discussion of present-day CM&Q operations, as well as discussion of predecessors Montreal, Maine & Atlantic Railway (MMA) and Bangor & Aroostook Railroad (BAR).

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MEC407
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Re: CMQ for sale?

Post by MEC407 »

gokeefe wrote:
Sun Dec 01, 2019 4:43 pm
Ah the old Buck Dumaine vision resurfaces ...
Yup, you read my mind. :-)
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CN9634
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Re: CMQ for sale?

Post by CN9634 »

Pre-Guilford a CP-MEC scheme was hatched where Maine Central approached CP to sell out and CP made an offer... just not one high enough. I believe this is chronicled in the ‘CP to the East’ book, which in this day and age should be dusted off to see what was and could be again.

Highball
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Re: CMQ for sale?

Post by Highball »

A link to info with the Port of Saint John N.B. and DP World.

https://www.dpworld.com/what-we-do/our- ... -brunswick

Cowford
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Re: CMQ for sale?

Post by Cowford »

Ah the old Buck Dumaine vision resurfaces
I think we're getting ahead of ourselves a bit. It's worth keeping in mind that the BAR of the 60s, 70s or even 80s no longer exists. The majority of the former property survives primarily as a fiber pipeline for its parent company. And, to my knowledge, Dumaine had no vision of creating a link over the top. Another thing to think about: The old CP interchanged much more with BAR than MEC (at Keag)... the CP route worked well for GNP and Fraser Paper with no circuitous miles, while MEC preferred St Johnsbury and its preferable divisions until GTI bought BM.

jwhite07
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Re: CMQ for sale?

Post by jwhite07 »

Last weekend when I was dropping off my niece and her husband at Bangor International Airport, I noted with amusement there is a now-outdated promotional poster for CM&Q "Pulling Maine Forward" hanging in the lobby near the security check-in.

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MEC407
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Re: CMQ for sale?

Post by MEC407 »

CN9634 wrote:
Sun Dec 01, 2019 6:57 pm
I believe this is chronicled in the ‘CP to the East’ book, which in this day and age should be dusted off to see what was and could be again.
Thanks! Do you know the name of the author by any chance?
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Cowford
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Re: CMQ for sale?

Post by Cowford »

Omer Lavallee (Published after his death... he was at one time CP's corporate historian.) It's a great read.

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MEC407
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Re: CMQ for sale?

Post by MEC407 »

Thank you!
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bostontrainguy
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Re: CMQ for sale?

Post by bostontrainguy »

UMMMMM . . . .

Canadian Pacific to the East - The International of Maine Division Hardcover – 2007
by Omer Lavellee (Author)
See all formats and editions

Get the Best Deal
Hardcover
from $300.00
2 Used from $300.00

CN9634
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Re: CMQ for sale?

Post by CN9634 »

They are out of print... I got mine for $90 and thought that was steep... but the book is excellent. Keep checking ebay, ect one may surface

Highball
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Re: CMQ for sale?

Post by Highball »

Fifteen years of Omer Lavallee's CP career, between 1945 and 1960 ... " were spent part time as a crew member of Canadian Pacific's pay car, which operated on the Brownville Division in the Northern part of Maine. The car which operated over the Moosehead and Mattawamkeag Subdivision once a week, was the last vestige of a once universal method of payment of railway employees, going back into the mid - 19th Century on this continent. "

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S1f3432
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Re: CMQ for sale?

Post by S1f3432 »

In the early 60's the D&H approached E.Spencer Miller with a consolidation proposal but analysts returned a report
so favorable to the MEC that the D&H lost Interest. Mr. Miller then turned to the CP with a proposal that the CP offer
2 1/2 shares of it's common stock for each share of MEC stock with the idea the transaction would be attractive to
CP by diverting traffic off the CN and landlocking the BAR. The CP responded it would not offer even one share; later
offering one CP Preferred Stock share for each of MEC's 120,000 shares- which was unacceptable to Mr. Miller. In 1974
CP paid $5 million cash and $1 million in Soo Line bonds for the Mattawaumkeag-Vanceboro portion of the E&NA which
MEC used to retire a bond issue coming due. CP paid more for that segment than they would have paid for the whole
MEC under the earlier proposal but without the baggage that accompanied the stock proposal.
Greg S

CN9634
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Re: CMQ for sale?

Post by CN9634 »

Looks like they are already marketing the line in their fact book.... what is missing? Rockland branch.

https://s21.q4cdn.com/736796105/files/d ... -Final.pdf

gokeefe
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Re: CMQ for sale?

Post by gokeefe »

Ok I'm sold. They're going to dump it.
gokeefe

csx2039
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Re: CMQ for sale?

Post by csx2039 »

Im surpised to see Newport listed.

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