Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1867-04-04

but many Irlenus Ol the lToy anu
Boston road who know the facts of the
case, and many business men Of Troy,
who are not familiar with those facts,
have urged the company to make a
single, plain statement thereof, for the
information of all who care TO treat the
matter fairly, and who are willing to
hear both sides. And in compliance
with the requests Of these parties, a
brief narrative is now given.
On January 1st, 1857, the Western
Vermont Railroad passed into the hands
of Shepard, Knapp and George Briggs,
of New York, as trustees for mortgage
given to secure the payment of bonds
amounting TO 100000. Soon after they
came into possession of this road, these
gentlemen applied to the Troy and Bos-
ton Railroad Company to take q lease of
the road, which was declined until the
trustees came to Troy, January Is, 1857;
when, after considerable negotiation, the
terms of letting were agreed on, and
lease for ten years were made, by which
the Troy and Boston Railroad Company
agreed to pay for that road s., 500
month for the first year and $4,000
month for the other nine years. BY
that lease the Troy and Boston Railroad
Company covenanted to return to said
trustees the 'road and property both
real and personal, at the termination OF
this lease, in as good condition and re-
pair as il then was, natural wear only
excepted"
That lease contained this further
clause: "And it is agreed that Charles
Linsley, of Rutland, Vt, and either one
of the present railroad Commissioners of
the State of New York, provided his at
tendance shall upon reasonable appli-
cation, be procured by said company,
shall pass over and examine said rail-
road and property as soon hereafter as
the state Of the weather and the season
render it practicable, and make an eX-
animation as to the condition and state
of repair of the same.
And that, upon the termination Of this
lease, from any cause, the same parties,
or the survivor OF them, if either is liv-
ing and where his attendance can be had,
shall make like examination for the
purpose of determining whether said
road and property are in the condition
and state of repair required by this
agreement, and if not to apprise the diff
ference in value. The decision so made
to be final between said company and
said trustees"
Under this lease the Troy and Boston
Railroad Company went into the occu-
patton and running of said road, pay
ing rent, &C. but, as there were threats
OF legal proceedings to vacate the lease,
and the season was very untavorable,
the examination provided for had not
been made, when in May, 1857, on the
application of certain bondholders, the
Supreme Court of Vermont put the Troy
and Boston Railroad Company out OF
possession OF the road and property,
which it placed in the hands of Re-
ceiver and this Receiver ran the road
! until the decision Of the suit in Janu-
arv, 1862 ordered the Troy and Boston
Railroad Company to be again put in
| possession thereof.
! Such possession Messrs. Knapp and
| Briggs were desirous that the Troy and
| Boston Comps should take at once
while the counsel ofthat company Hon
John S. Robinsou) advised the company
not to do so, until the examination OF
the road and property (as provided by
the lease) should be made. AS, how
ever, Charles Liusley named in the lease
had been acting as counsel for the Troy
and Boston in the litigation Just spoken
Of and as the oficeo Railroad Commits
sioner had been abolished by the State
of New York, there seemed q difficulty
in procuring such examination. Anx
ious to have nc interruption to the run
ming OF the road, the trustees, through
their counsel, E. J. Phelps Of Burling
ton, urged US to take possession at once
and it was suggested on the part Of th'
| trustees, that two other persons, (named
should make such examination, and tina
both parties should agree to such sub
stitution and examination. And there
upon the Troy and Boston agreed tt
take, and did take possession. Such ar
| examination was made and was dul!
returned, in writing, to the trustees and
to the TROY aud Boston Railroad Com
pany. And tho two persons who 81
made it are both living, and easily to b
procured to make the second examina
tion provided for in the lease.
From that time the Troy aud Bostol
continued to operate the road and, a
the directors believe, to the satistac tio
of the people on the line. The MONTH,
rent was paid to to the trustees, unit
September, 1865; when the compan
was notified by the trustees to pay
thereafter to the Treasurer of the Ben
nington and Rutland Railroad Company
a corporation which had succeeded t
the property aud franchise of the West
ern Vermont Railroad Company, and
was so paid.
Soon thereafter, Trenor w. Park,
Bennington, representing himself as tn
owner of the Bennington and Rutlan
Railroad, opened negotiations with tn
Troy and Boston Railroad Company
looking 70 q permanent arrangemeu
with it for operating his road in connee
tion with ours, ON the termination OF OF
lease, January 16r 1867. These negC
tiations continued until January l
1866, when the Troy and Boston Con
pany submitted to Mr.. Park, the follow
i,r, cod on uiyiy.v IN h