Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-06-04


Line.
1t a hear;n. before the committee on railroads
Of the Massachusetts, Legislature, on Thursday
evening Col John Il. George, of New Hamp-
shire, addressed the committee in favor Of the
consolidation bill He said
In the development of time on the great lead
ing lines Of railroad business had increased SO
that to-day they could earn all that their char
ters would permit them to divide among the
stockholders, ana the result wns that not only
were the public pre-eminently for tins reason H.
,erested in the iudicious and efficient manner il
which the business upon the lines was conducted, g,
but they were absolutely the only parties inter-
ested. II would be impossible to run the Boston
and Albany road SO badly but that it would earn
all the money they were entitled to have. They
could not run trains on any road but that the
business must pay the ten per cent which the
charter allowed. The result was that every dol
lar upon every road Of that character that could
be saved in the economical management Of that
road was saved directly 10 the public. He
would make cursory examination Of the bill
introduced and would show that these roads
could be run when consoidated more efficiently
than to-day, and have the saving Of at least
500, 900 capital made annually. From that
saving the public would get an advantage in the
saving of both money, efficiency and manage
ment. The present condition Of the roads propos
ed to be consolidated were here sketched at
length by the speaker. He said person started
from Boston on the Lowell road-an independent
road-constructesi for -, 2,OOJ,OOO and was only
% miles long Next he has TO 90 Oh the line run
ming from Lowell to Nashua, 30 miles long, and
then they had to 90 on to Concord on another
= l.. IL, ~,
Railroad, and the Vermont Central Railroad,
snd from thence on to the Ogdensburg line.
This FINISHED the through line to Ogdensburg
and the lakes, a distance of four hundred and six
miles The Lowell road has always paid its or
s per cent, the Nashua line 10 per cent, sub
stantially, the Concord 10 per cent the North
ern ruad paid per cent, and what the Vermont
Central paid it would be difficult to tell, for there
we're first mortgage bonds and second mortgage
bonds, and all sorts Of things, and all the f.
naucial management was in such way that no
idea could be formed as to what it really did pay
The Ogdensburg much in the same
condition. Now the bill provided that there
should be new corporation chartered by law,
with a capital not exceeding the capital stock Of
the road, as at present existing. The provisions
in this respect were precisely the same as those
passed by the New York Legislature for the New
York Central road. OF course the union could
oriy take place by vote of the majority of the
stockholders in each corporation. They wanted
to unite the six roads that were to-day worked
by the Boston and Lowell And for this reason
In 1857 these roads were running with separate
organizations, and with the stock Of the Lowell
road worth S56.53. The Nashua road was
worth considerably less than par, and all the
roads we're in fact in poor condition.
To day these six roads were together, and
the first effect was to reduce the working
cost to 81 per cent Of what they were under
seaprate organizations; they were also operated
at 81 per cent. TO what it cost upon the gold
basis. They would find to-day great deal more
efficiency and despatch, more general public &C.
commod.tion than wss possible independent