Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1871-02-01
Lease of the Rutland Railroad

The Free Press Of Friday last announces
that the lease Of the Rutland Railroad to the
Vermont Central managers has been definitely
perfected. and makes the following sensible
remarks thereon
Coming events have cast before such clear
lv defined shadows, that few if any viii be
surprised by the announcement which we
make to-day, that the lease Of the Rutland
road to the Vermont Central is an accom-
plished fact The preliminary contract for
the lease was made about four weeks ago.
Since then the injunction of the Court of
Chancery, in the case Of Cheeycr and Hart as
the Rutland and Burlington Railroad Co,
has been modified by the Chancellor, Hon.
Hoyt ii. Wheeler, 50 rs t. allow Messrs.
Orchard and Page, trustees under the sec
ond mortgage, to transfer the Rutland and
Burlington road and all its property 70 the
Rutland Railroad Co.. which hns been done
And yesterday,a Rutland the Rutland Rail
road Co, by unanimous vote of meeting in
which over seven cighths Of the stock was
represented, fully closed and confirmed the
lease.
The lease is for twenty years. BY its
terms the Central agrees to pay the interest
(seven per cent? on the preferred stock Of
the Rutland r. K. Co, and the interest on
the seven per cent. and eight per cent. bonds,
assumes the leases and pays the rent Of the
lines, steamboat company, &c heretofore
leased 10 the Rutland road, and pays upon
the common stock Of the Rutland Company
an Increasing rate Of interest, beginning at
nothing and Increasing by one per cent. a
year to point which Will give TO the hold
ers of the common stock an average of SIX
per cent. per annum on their stock for the
whole term Of twenty years
Ii Is understood that rAaE-essiau ttIIl
| taken by the Central Trustees in day or
two, soon as GOV. Smith, who Is ia New
/ York, returns % the State.
The consolidation Of these two important
lines gives to the Vt. Central control of
nearly 600 miles Of line, and makes it one
of the most important and powerful corpo-
rations in the country We have only space
to say oft to-day that we believe it to be not
only very '' big thing, but very good
thing in many respects, we shall take
occasion to show hereafter.
The utmost harmony prevailed in the
meeting Of the Rutland Railroad Company,
and the vote accepting the terms of the lease
made by Gov. Page and others with the Cen
/ trail Managers was unanimous. Messrs Page
and Orchard were complimented by the en-
thusiastic adoption Of the following resolu-
ton
| WHEREAS, We the stockholders of the Rat
| land Railroad Company, have by vote ratified
the lease Of the road to the Vermont Central
and Vermont and Canada Railroads, for
| twenty years therefore,
/ RcS0lred, That the thanks of this corpo-
ration and all interested IN its prosperity
are due to the Trustees, Messrs. j. b. Page
/ and f. a. Birchard, and to the directors oil
said! Rutland Railroad, for the able, faith
| full and successful manner IN which they
have performed the duties of their trust.
Geo. B. Chase offered the following reso-
luton, which was also unanimously adopted
Resolyed, That the stockholders of thit
company desire, by this vote, to place upor
their records, at this time when the genera
superintendent of the road is about by it,
lease to pass under the control of the man
ayers Of the Vermont Central Railroad, thei
high sense of the ability, fidelity and yea
which have at all times characterized tn,
management of Colonel Geo A. Merrill
Superintendent of this road, and to express
their thanks and cordial regard to him, anC
that a copy of this vote be transmitted to him