Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1868-03-06
Prom the Troy Budget.l
Settlement of the Railroad lmbrOgliO-

Settlement of the Railroad ImbrOgIiO.
Weare glad to be able to announce " by
authority that the Railroad difficulties re-
sulting in the breaking Of connections be
tween the Troy Il Boston and Rutland q Ben
nlngton Railroads are rapidly approaching
final settlement. There is every probability
too that the cars will shortly be running
over the % break and that the broken con-
nections existing for over year Will be re
stored speedily. Last week Hon. John Ii.
Reynolds, attorney for Mr. Park, and Hon.
4 VIM. \. Beach, attorney for the Troy &
Boston Railroad, made an agreement u be
submitted to their principals for ratification,
| by which all the suits pending between the
| parties to the controversy were 10 be settled,
except the suit of Mr.. Park for damages 10
his road and neglect to repair it while under
lease to the Troy & Boston Railroad \
special term Of the Supreme Court Of Yer
mont is to be held in April next for the trial
Of this suit. The Troy 4 Boston K. r. re-
serves the right to sue Mr.. Park for DANA
ges sustained in consequence Of the seizure
Of their cars and rolling stock. Both Mr..
Park and the Troy and Boston Railroad have
signed these agreements for settlement No
written terms of agreement in relation to
restoring connections have been made But
it is understood on both sides that the Troy
q Boston Railroad and Mr. Parks road will
connect and run cars over the entire length
as of Old. as soon rs the track Of the latter
road from the State line to North Bennington
can be cleared Of snow. As cars have not
this winter run over this little link Of road it
is now buried under several feet of snow and |
ice and it will require some days digging to
clear the track. The cars and rolling stock |
Of the Troy and Boston company seized by |
Mr.. Park are to be restored by him, and |
will be delivered at Rutland or at the State |
line as soon as it Is possible to run it down
there, at the option Of the Troy 4 Boston
Railroad The Troy and Boston Railroad
gives bonds in the sum of fifty thousand dol
lars to Mr.. Park as a condition Of giving up
the cars. &c. securing Mr.. Park to that cX-
tent for any Judgment he may obtain against
the Troy < Boston Railroad for damages and
neglect TO repair Mr. Parks Railroad while
leased to the Troy and Boston Railroad Com
panv. These terms of settlement are pre-
ciselv those which Mr.. Park has all along Of
fered. Indeed from the very first he offered
10 restore the seized property whenever the
Troy * Boston Company would give bonds
for the same. lie has repeatedly reiterated
this offer in the public prints. In a letter
from Mr. Park dated December 9TH, last,
pablishcl in the Buagt at the time, he pro
posed to refer all matters in dispute and
said
E. BY the terms of the reference the Re
lerec shall he required 10 decide according to
law, or according to equity, as the Troy and
Boston Company choose. Satisfactory bonds
t. be given by each party, and the property
attached Ia De released from attachment"
In consenting to take steps for a settle
ment Of these difficulties the Troy * Boston
Railroad are yielding TO pressure which
they could no longer successfully resist. The
awakening public sentiment Yas fast becom-
ing formidable. overwhelming and almost
against the disastrous policy Of
the year past Troy IL Bennington Railroad
having only the bonds of the
Troy q Boston Railroad as security for the |
payment of the rsnt under their lease, saw
with alarm that the course of the Troy Bls
ton Railroad if persisted in would utterly
ruin the value of their stock by securing the
of the Albany x Stcphcntown |
Railroad. With a two million debt on thir-
tv-f0ur miles of road. "a debt of nearly fifty |
nine thousand dollars TO the mile). with the
circle of debt rapidly increasing. (Sl20,O00 |
last vear) in a quarrel which was alternating
It's Old friends here and at the North, and
destroying its present usefulness and Its value
for the future, with its policy Of shutting up
the facilities Of communication and travel |
which il was built to supply-with all these
clouds and throatonings thickening about the
Troy & Boston Railroad management, banks
began to get shy and capitalists to look with
suspicion, 50 that even the sources of credit
and financial existence were perilled. Mr..
Park had already procured an order to sell
the cars and rolling stock which he had seiz-
ed, and although this movement was tempo
rarily stayed by an injunction, the moment
was rapidly approaching when a sale could
no longer be fought of Under these and
other impending dangers which We have no
desire to recount, the Troy y Boston Railroad
has finally taken the back track, and has
no longer to fight the inevitable. 1t
has done well in this its change Of policy.
To this most gratifying result the Budga,
more than any other source, has contributed
the most powerfully. With our cotempora-
ries paralyzed and apparently muzzled in
their high functions as defenders Of the best
interests of the public, the Budget has alone
and single handed fought out this fight in the
interests of Troy until Its cause had achieved
a complete and signal triumph.