Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1872-10-18

end in view. They have watched the de-
yelopment of the property for long time
until it has got to be very valuable proper
ty, worth, | believe, SIS, 900 900, and earn
ing something like So 100000 yearly |
think it is for the interest of every man who
owns dollar of the stock to stand by that
road and see it through. (Applause.) Let
this committee OF conference be appointed,
and let all the various securities be merged
into one security, or you may call it stock, it
you please, and let it be managed by the peo
pie and run in their interest, and | have no
doubt that all the litigation of the Vermont
Central will be ended. | believe that the
honorable men who compose the Board of
Managers have had no personal or private
end in view They have watched the de-
yelopment Of the property for a long time
until it has got to be very valuable proper
ty, worth, believe, SIS, 900 900, and earn
ing something like. $2,ooo,ooo yearly. I
think the running expenses have
cent. [ think the trustees are now
ready to reduce this expense, and [ say
let US stand by them. l have $4,000 in
this matter, and l propose to do what can
to sustain it, and not come here to cry it
| down. five do 50 [ believe its stock will
soon be above par instead of deprecated be-
| low it. have no doubt that the lease of
| int 1ulIuuu hUQ VI the O2uCLlSDu15 IOuuo
will in five years pay their expenses and pay
large profit beside. Already their re-
ceipts are increasing and expenses decreas-
ing. hope the trustees viii stop borrow
ing money to pay dividends, and let them
pass until they earn the money. l hope the
suggestion for the appointment of a COM
mittee of the holders Of the various securi-
ties to confer with the trustees and arrange
for a grand organization, to be managed by
the people will be adopted and it will be
successful.
Mr. Thos NJ Edwards, Of keene, said:
There is no difficulty in making the road
pay under economical management. | did
not believe that the net increase of the leas-
ed roads would meet their liabilities.
| REMARKS OF GOV. SMITH.
Gov Smith said there were many things to be
considered If it is desirable to work this
enterprise into more satisfactory condi-
ton than it is to-day, it should be done
promptly. Whatever is done will involve
an application to the Vermont Legislature
for aid. 1t seems desirable, therefore, that
while that legislature is in session, we
should work There is great deal to do.
The great regret with the managers Is that
the stockholders haven watched their prop
erty more carefully. The committee
: should not be unwieldy, for it should work
l
shall be done in the meanwhile with our liza
bilitieS. Our creditors have been very pa
tent With all the reports which have
been flying around the State, less than So,
900 in all have been attached on the proper
ty of the road From all quarters Of the
State | have heard but one single response
and that is . stand firm. The
trustees have always held their acts opef
for scrutiny and invite the visits OF the stock
holders. Not a solitary road running ou
of Boston can command such resources a
the Vermont Genital. The great road o
Boston to-day works to the interest Of Yer
mont The Vermont Central only needs the
careful nursing which a father would give
his child TO develop a future which as ye
we do not dream of. The Northern Pacific
railroad will bring here in the spring the
j nearest, shortest and quickest line to the
heart of Montana. 1t will bring 1t here
Canada has voted lands and money for the
purpose of helping this road. Now if VT
i will but take the map and see what has beer
done by the trustees. They have with per
s0nal influence and endorsements borrowed
money to pay the expenses and dividends
; Look at the Pennsylvania Central, and the
Boston and Albany railroad they hay'
asked money from their stockholders fol
equipment and have had it. Zee how the,
, expanded under it. The Vermont Contra
railroad has had no record Of this kind
Mr.. c. c. Coffin, had few words to say
, in regard to the grades between this cit.
and the St Lawrence. They are lower THAI
; on any other road. Mr. Coffin made an elo
quent address, descriptive of the Northern
e Pacific railroad, fortified by statistics from
t his notebook.
The chair said that one point had no
been fully touched 1t is good management
e for u railroad to do the work that has beer
l done since 1858. - am not here to white
. wash Gov Smith, - he SAID, - for scarceI!
e spoke to him till to-day Eais road lies be
tween two rich roads and they are both t(
contend with Hence their work IS hare
one. fl We're rich man, ia take every
dollar Of the stock"
Mr. Bailey desired TO ask what was to be
done to meet the present exigency.
Gov. Smith said that the managers a
first intended to submit subscription paper
to-day, but it was not Yet determined whar
to do. [ suppose the Committee Of Confer
ence will present to the stockholders some
e plan whereby the loan can be taken,