Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1867-06-07
100000 90
Less Equipment Loan,

they have now thirty acres Of land in docks
at Burlington, of great value. 10 show the
growth of their business at this point they
give a statement of business at Burlington
station in 1859 and 1866, as follows;
Lbs. of Freight received and ship
de1 in year 1866. l22,026,l3s
Lbs. Of Freight received and ship
ped in year 1859, 5l,563,72l
Increase, 70,462, Az
Amount Cash received on Freight
Account in year 1866. S359,lO6 10
Amount Cash received on Freight
Account in year 1859, ll1,5Iy IS
Increase, s2n, 526 sc
Amount Cash received-Passen-
ger business, 1866, 4,29l ~
Amount Cash received-Passen-
ger business, 1853, 25,.oS %
Increase, s9,2O2 So
They say the Swanton branch, ten miles
in length, was also built in compliance with
the provisions Of the charter Of the Vermont
and Canada Railroad, and has added greatly
to the value Of the road.
The S,anstead, SheffOrd and Chambly
Railroad, extending from St. Johns, q. f.,
a miles eastwardly to the village of Water
loo, was originally projected and started as
a competing line, and would haYe been a
very troublesome rival, but is now in the
hands Of the Vermont Central managers,
who say Of it that it can be operated econo-
mically, and made to yield handsome re-
turn on its cost.
In addition TO the large expenditures above
referred to, the trustees have from the in
come paid in dividends, legal expenses, &c,
a total of $1,000 Is and have an excess
Of wood and shop stock on hand, over lSGl
Of Sl3j,52l. Deducting the amount reeeiv-
ed from equipment loan, 500 900, and the
present debt Of the Trustees amounting to
! S753 ,302, and there remains a balance Of
two million, ten thousand, four hundred
and sixty-mne dollars and thirty-fye cents
realized out Of the income Of the road show
ing that the road has actually earned net,
over and above its expenses, about 80 per
cent. Of its gross receipts result winch
will compare iayorably with any road Of
equal length in the country.
The Trustees have greatly improved the
road, having put, during the period, into
the track over eleven thousand tons Of new
rails. and over three hundred and ffty
thousand ties, rebuilt and made new nine
truss bridges, and built more than six miles
Of additional sidings. We copy the couclud-
ing portion Of the circular
To provide for the debts now outstanding the
| committees Of bondholders, the directors Of the
| Vermont and Canada Railroad, and the bond
holders present at the conference with the trus
tees and managers, agreed with the trustees and
managers that it was expe1ient.
LIST. To increase the capital stock Of the Yer
mont and Canada company TO the amount Of
| $3.50, 900.
%. To increase the equipment loan, and se-
cure the same by pledge Of the equipment added
since 1861, and not already pledged for the
former loan, 100000.
Sd. To issue the notes Of the trustees for
100000, payable in twenty years, and secure
] the same by pledge Of bonds Of the Stanstead,
| Shefford and Chambly Railroad, now in the
hands Of the trustees and managers, to the
amount Of about $3.50, 600, and by the stock Of
that company to the amount Of $780, 900, and
also by the earnings Of that road.
Making total Of =, 100000
From this amount it is proposed to pay,
lst The Vermont and Canada dividends,
due June /, 1867, 100000.
2l. The certificates Of Indebtedness Of that
company, due June /, 1867. Amount, with
interest, $4,000.
These payments to be made in the stock Of
the Vermont and Canals company, at par.
Sd The coupons Of the LIST mortgage bonds,
due Il. OF June and lst Of December, 1867,
$4,000.
18th. The coupons of the ID mortgage bonds,
due lst Of June and lst Of December, 1867,
Sl0j,0
These payments to be made in the notes Of the
trustees and managers, secured by the bonds
and stock Of the S. 5. * c. r. r. the December
coupons not to be paid until maturity IN De-
cember, 1867.
On this basis there would be left TO pay OF
the Indebtedness Of the trustees, as follows -
Balance VI. snd Canada Railroad
stock, $4,000
Balance 5. 5. & c. loan, $4,000
Amount Of equipment loan, 100000
Total. $50, 900
and the earnings Of the road until December,
1851
The Court Of Chancery have confirmed by de-
cree the agreement made by the parties, Oh the
basis above set forth. Ii remains for the par
ties in the various securities to say whether they
will now cooperate with the trustees and mana
gers in relieving the property from the floating
debt outstanding against 1t.
The Trustees say " the exhibit thus
made shows what the road has done,
and what it is capable of doing for the
futur~. 1t has not only been recuperated
from its depressed condition in lS59-GO, hut
it has added slxtY-two and one half miles Of
valuable road to its length; it has nearly
doubled its equipment; it has materially
added to its real value, by the erection of
large and commodIous shops, engine houses,
depots, and wharf property; it has almost
trebled its earnings, and has gained point
in Its growth and development that would
seem to place it in the future in position
where it may fairly be expected to meet the
dividends due upon its capital.
The Trustees and Managers are not at
this time aware Of any further Improvements
requiring extraordinary OUTLAWS. -
The Mobile City Officials.
Gen. Pope, in his official report, states
that the Mayor of Mobile, though everybody
apprchendcd disturbance during Judge
Kelley speech, instead Of making arrange
monts to keep the peace went of to his
house, a mile and half away, leaving the
city IN the hands Of Chief Of Police who
eitser sympathizcd with the rioters or was
wholly inefficient. Gen. Pope adds =. Ii
certainly Is not to be attributed to the zeal
OF conduct Of either Of these functionaries
Il r