Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1871-02-02
The Lease of the Rutland taii
Road 10 the Vermont Central

The Lease Oh the
Road to the Vermont Central.
Tho cbaroes in Railroad affairs in our
community has for time been the SUBJ
iect of serious consideration by our people,
as it ought, for it il subject of grave
Importance, liable to effect materially the
Interests not only of our immediate local
ity but other sections, through which one
of our leading railways is the great
artery which gives current 10
business. The fears of the public are
Justly queted. The act has been consul
mated and it is fully understood that no
serious detriment'to any interest VIII oe-
eur. The local interests have been fully
and fairly protected, and now none but
the most cordial feeling EXITS toward
those who ro,ire, and those now. assuming
the new relations.
Tue Rutlsnd Railroad for the past few
years hss had hard conflict. 1t has con-
tended with serious and embarrassing liti-
cation az well as with losses by foods that
have swept away its property almost IN
moment. When Governor Page entered
It's service as manager he found it in o
sad condition. II had been managed and
operated by foreign interest, having no
sympathy with Vermont. On his as
sumption of Its control new era III
affairs was inaugurated. home interest
created, aud the confidence in his ac
knowledged ability as successful imam
!. oier, gave the public the assurance that
although entering upon an uutried field,
surrounded by seeming insurmountable
difficulties, yet that ultimate success
would crown his labors. The road in all
it's relations was in measure demoralized
heavily laden with debt, and harassed
by litigation. he at once with his well
Known energy began to probe affairs to
the bottom, determined to know the
worst, and lay out plans for its recupera-
tion. He early associated with him in
The direct operation of the line Col.
George A. Merrill, . practical railroad
man, and together they have labored for
the benefit of the corporation and this inn
mediate community. They have used
% every endeavor to make the interests Of
the road and the people reciprocal. and
have proved eminently successful and can
point to the Rutland of to-day as q monu-
ment of their labors. Compare Rutland
when the road came into the possession
Of Gov. Page and now, and the evidence
is at hand. This is the immediate local
result in which we have cause for con-
graduation and honor to the leading
spirit that has given us our present pros
perity. .a ~E
Having considered the local results let
as turn to the work that has been accom-
plished for the parties interested in its
financial condition. 1t was struggling
between life and death, and the disease
had become almost chronic, when Gov.
Page assumed its management Its in.
iebtednes was fully asoertained, its affairs
put in form and shape, the road-bed and
furniture were put in good condition, ita
trains regulated to fully accommodate the
business public, and new atmosphere,
seemed to surround it in every respect. Its
finances were cared for, its legal contro-
yersies were carefully watched, and car
ried forward After all had been well
prepared, plan was devised to relieye il
of financial embarrassment by CONSOLE
datiou of the bonds represented in its inn
mediate management, into new corpora.
ton, under the name Of the Rutland Rail.
road Company, for which charter was
granted by the legislature. This Com
pany had so far accomplished its purpose
as to consolidate all rival interests. Its
old furniture has been replaced with new
and its motive power increased, and from
siokly existence it has grown to vigor'
GUS life and proportions. and its new
stock is selling in the market to day al
S0., and its new 2 per cent bonds at so
This is most surely financial success
Considering the legal judgments tha
have been rendered which have all beer
provided for end the losses accruing from
the foods of 1860 and TO- This is what hal
been financially accomplished, in the face
of difficulties which few men would have
had the courage to encounter In the
mean time, it's lines have been heightened
and strengthened on the North and thu
South-the Addison County Railroad ha
been fully inaugurated and is fixed fac
as a contributing branch to the main lin
and will be speedily built. This is surel,
wonderful work, and has been accom-
plished only through great struggle, sac
ri6ce and incessant toll.
This condition of affairs having beer
reached, railway line under differen
management, desiring further taoilitie
Tor the transaction of the immense carry
ing trade to the same point, make to tn
managers Of the Rutland Railroad propo
sitiops to lease the line with its brsnohe
at rate of interest beyond what it's man
ayers thought they could earn by it
separate operation, 1t is accepted, and it
stockholders guaranteed rate of interes
fully remuuerative. 1t was considere.
that the two lines were In a measure riva
and competing, and that consolidation G
these interests would inure TO the benefi
OF all concerned by economy in manage
ment and reduction Of expenses, so tina
both lines would be made to pay, an
with thts view the Rutland Railroad no,
passes into the control of the Vernon
Central Railroad. tt
After the best, years Of his life and tn
yigor Of his manhood, spent in buildin
up the Rutland Railroad to point non
ever expected it would attain, Governo
Page retires, having secured to his stoch
holders renunerating stock. Thrivin
Communities have arisen along its lins
and especially has the prosperity of Ru,