The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1846-10-17


bout $4,000 O0-which sum will probably
be adequate to tho expenditures of tho pres
ent year.
AS it will be important to continue opera
tons at certain points during the winter, pre-
paratory to moro efficient and extended
scale Corporations the ensuing season, II may
be presumed that second installment will
be called for in January next
Tho Board at its meeting in January last
adopted n vote to allow interests on all INSTALL
ments from the time when paid in; and for
the accommodation Of the country stockhold-
ers, many of whom own but a small number
ofshares, the Treasurer was instructed to re-
ceive on such shares the whole amount or
such portions ofthe same as may be offered
in advance of the assessments, which sums so
paid in will be entitled TO interest at the le-
gal rate from the time of payment.
IL has been remarked that in the preliminary
arrangements ofthe Board, the Directors have
had in view n rigid economy. Hence, in
part, the fact that no greater portion OF the
road has, as yet, been put under contract
A heavy expenditure the present year would
have involved loss ofinterest upon the capt.
tai expended, since no part ofthe road can be
profitaby used, ifcompleted, until the North
ern Rail Road shall have been extended to
Connecticut River.
As, however, it may be safely assumed that
that Rail Road will have been completed 10
the point ofjunction by the first OF January
1913, the Directors recommend that during
the year lS47 more vigorous policy should
be pursued, and that two divisions of the
Connecticut and Passumpsic Rivers Rail
Road, as designated above, be in readiness
TO receive the Rails very soon after the compile
ton ofthe Northern Railroad. And il is APP
pretended that the operations ofthe present
year, though limited in amount, will be found
greatly 10 facilitate, and advantageously to at-
feet the scale of operations now recommend
ed for the ensuing year.
1t may not be improper to glance ut the po-
sition of the Connecticut and Passumpslc
Rivers Rail Road, in connection with the pro-
gress of the lines of Rail Road at its northern
and southern eXtremities. 1t is gratifying
fact that nearly coincident with the COM
mencement of constructions upon the Z. q
z. II. II. r.. the St. Lawrence and Atlantic
Rail Road Company have put under contract
the first thirty miles of their Road, between
Montreal aud Sherbrooke, and that the state
of their subscriptions is favorable for an early
extension of their work to Sherbrooke; and to
the Province Line.
The Northern Rail Road which will con-
meet the G.. &; p. with the Concord Bail Road,
is in state of forwardness throughout its
whole extent, with the prospect of being com
pleted by the commencement ofthe year 10
AZ.
A continuous line ofRailroad is now in OPP
Grafton from Long Island Sound TO Green
field. Mass. Charters have been granted for
Rail Roads between the latter place and the
lower terminus of the G. Il p. r. X. r., and
some progress has been made in construc-
lions.
Ii is obvious that so important line can
not long remain unoccupied, and when these
lines are completed the c. 81 p. II. Z. X. will
not only become n constituent part of the line
from Montreal TO Boston, but viii be the only
Rail Road avenue from the Eastern town
ships ofCanada and Northeastern Vermont
to the lower valley ofthe Connecticut and the
City of New York.
1t is matter of interest TO the public that
the Concord and the Northern Rail Road
Companies are limited by their Charters to a
dividend Of 10 per cent. per annum on their
capital. Any increF. SO of business, therefore,
upon those Roads which shall return an in
come beyond 10 per cent. per annhm, will
impose upon tho Sc corporations the necessity
of reducing their rates Of toll!
The last annual Report ofthe Directors OF
the Concord Rail Road mentions the fact that
their "tarif for passengers was reduced on
the first day ofNovember last" and states
tho "in the opinion of the Directors the in
come of the Road for the past year will justi-
~ father reduction ofthe freight tarffat an
early date"
When the connection shall have been form
ed between the Northern and the VI. Central
Rail Roads at the mouth of White River, and
the Connecticut aud Passumpsic Rivers
Rail Road shall have formed hsJunctlon with
the Northern Rail Road, a great reduction
may he anticipated in the rates oftoti between
that point and Boston.
IL will be seen, therefore, that prospective
" the tariff for freights and passengers on
this line must prove very satisfactory to the
public, and the effect on the country, will be,
TO cheaper the articles pfilnport and greatly
to increase the value ofproduce and articles
exported from 1t.
The Connecticut aud Passumpsic Rivers
Rail Road in It's course up the valley OF the
Connecticut and Passumpsic Rivers to Can
ada line, traverses fertile and well settled
country 100 miles in length and fifty miles by
average in breadth, the local business ofwhich
is already considerable. Inc plDlc line OF
stages between the valley of the Passumpsic
and Concord. N. H., although nearly quad
rupled within the last few years, are alto
pether Inadequate to the comfortable convey
arce of the passengers; while the continuous
professions of heavy teams loaded with pro-
duco and merchandise, indicate at once the
desirableness- of Rail Road facilities for the
country, and the suflicency of business TO
make the investment profitable.
In conclusion, the Directors congratulate
the Stockholders 81 friends ofthis enterprise,
in view of the fact that, Notwithstanding the
existence at first, of difficulties and discour-
agements seemingly unsurnountabio,t con-
structiou of the CoNNEeTIoUT aud PAssuMP- |
SIC RIVERS RAIL ROAD has been COMMENCED,
uuder circumstances which may well afford
assurance that it will he steadily aud unre-