Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1847-03-18
For the Green Mountain Freeman.
The Vermont Central Railroad.

direct or indirect interest in its prosperity and to
lrotect this interest, it was made the duty Of the D
ectors to report annually to the Legislature the cond
ion of the road, that they may know whether their IN
erests duly regarded; ant this report we under
stand, was, through the Executive, submitted to the
Legislature thence to committee whose duty it was
to receive like communications and farther we have
seen no account-no action upon it, either by the COM
mttee or the Legislatures and thus the facts that it
must necessarily contain are not before the people.
Perhaps it may be well that it not discussed In
the Legislature published abroad if had been,
we are ready to believe it might have produced that
dissatisfaction which would have proved runous to the
enterprise Further privileges in the charter clearly
show that the Legislature believed the interest Of the
State demanded this road With this view of the sub
ect they seemed determined that nothing on their part
should be wanting promote the best interests of the
State. They therefore granted the petitioners just
such charter they wished which was more tavora-
Bile than any charter ever granted before or since IN
the State. Then this charter with all the promised
advantages of the road being placed before the COM
munity, gave impulse to the people in favor VI
rail roads, and the feeling almost unanimous IN IA
vor of the Central, throughout the State except
few at that time whose interests direct on
the Rutland rout under the general impression then
prevalent that but one of The roads would be made
At this favorable time the books opened for sub
scrption, and all classes Of community came forward
and subscribed literally many, up to the full extent Of
their ability to pay; and the common interest taken in
this State made favorable impression abroad that
in a short me there stock taken to the amount of
over two millions of dollars. The officers were then
made, whose first, grand object apparently was to
head the Rutland road. which to be accomplished
by connection with the Fltchburgh, which was to in
crease the distance some is miles. But this distance
appeared trfing-hardly worth taking into the ac-
count when contrasted with the great advantage gain
ed in the complete overthrow of thir most formidable
competitor. Taking courage from their newly acquir
ed victory they proceeded CONTRARY to the wishes of
large part Of the stockholders and citizens of the Stae
to add from five TO ten miles more to the already
heightened line Of the road by locating it through
Mortified. Thus we find the route heightened from
twenty to twenty-five miles, without taking into
count the ccutous route and great expense of getting
into Burlington: and yet more; the present locations
are through much less business and prosperous part
of Vermont, New Hampshire and Massachusetts than
it would have been on the shorter and direct route.
The increased capital required build this long route,
with the extra expense of running over it seemed to
discourage and destroy the confidence of the stock
hoders and doubts began to be entertained Of its be-
ing safe and jndcious investment; for, MS predicted
by many the monopollzing policy pursued by the di-
rectors of the Central road has been the means of
building up instead of pulling down, the Rutland and
Passumpsic roads; for it is evident that these roads
have grown up, anG have been continually acquiring
new strength, through the crooked and vasClating
course pursued on the Central For while the funds
and stockholders of these routes have been increasing,
there has been an unheard of falling off in this
for find, from the calculations Of stakeholder, in
your paper founded on the reports of the company,
out Of the 205C0 shares subscribed only about $3.50
have continued to pay the full amount assessed, and
we believe this is estimated too high. large MAORI
i ty pail nothing, only five dollars, share. Now,
i we add $8l COO for what was paid on those shares
that paid only five dollars, and from other Sources we
find only G00C00 which has probably will be,pnd in
the present subscriptions. And this shows that nearly
three fourhs of the stock subscribed has not been
t paid, which probably includes five sixths of the
Der of subscribers. We ask, why this great falling off?
why refuse pay, if there is some evident wrong
in the management of this affair? And must there not
be something done to satisfy and restore confidence
before the enterprise can succeed for the friends of
&c the road estimate the cost at four millions. Now, is a
sixth seventh part of that estimate sufficient guar
antee of final success especially when the money has
been expended on all parts of the route from ex-
remy to the other when large portion of it cannot
for long time, if ever be of any avail to the stock
. holders Now, why was this course adopted? Did
they suppose they had the means to complete the
whole line? Irso, events show they have misjudged
very much; for when they had assessed SOS or the
share, they had paid out nearly all that had been
ceived and the oft repeated assessments since, show
the low condition of the treasury at that and the pres
ent time, for they have been continuing these calls OH
the stockholders while they have been dschargng
hands and abandoning jobs. And while they have
sessed mostly to the last dollar, the prospect to say
the least very far distant for the completion of the
first mile. We here would make an inquiry or two,
and leave 1t for those to answer who will Why has
there been so large an amount expended at and near
Windsor, Burlington and Northfed5 Was there any
compromise union of interest that demanded it?--
Would it make these sections more permanent, and
thus acquire increase of confidence and energy from
those who more positively interested IN these sec
n ons?-or what is there to Offer the people Of
this State and the stockholders to convince them that
$ their interests have been strictly taken into the ac-
st count in these expenditures? But we frequently
w. told need talk about the people; they have no.
thing to do with this corporation. But we glad to
II find among the many privileges chartered to this COM
n pany there is nothing to debar any citizen from nvest
Of eating the proceedings of the company as far as their
n interests are concerned; and all feel and have
10 more or less interest in the final of the road
X the people seem to up from all quarters and ask
n, and demand of the directors and company full and
frank exposition of the difficulties which threaten to