Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1872-10-04
u.RR.uO.vT CR.vTR.sL-TEIE
OTHER SIDE.

The vermont Watcnman OIL last week
gives another version of the VT. Central
difficulties, which, If true, puts an entirely
different face upon the matter from that
given in the Springfield and Boston papers
of week before last 1t says:
One hardly knows what to "believe or
disbelieve" about this railroad in these
DAYS of rumors and contradictory reports
But one thing is perfectly evident The
iron is down on 1t and the trains,
to the number of twenty-eight per
day, are running with great regularity.
The old managers, who have made the
Vermont Central sharp and successful ri
val to the New York Central, tho Pennsyl-
vania Central and the Erie, are still in
possession of it. 1t Is doing splendid
business of about six millions per year,
and its business is larger this year than
ever before, and is rapidly increasing. Its
freight for this year will not fall much
short of million of tons, and it is just en-
terlng upon n course of unexamplcd and
unexpected prosperity. And this is just
what the matter is. The extension OF its
business, the renting of other roads and
consolidating them with itself, has added
for the present to its expense account. 1t
is impossible to extend the facilities of
business without mourning large OUTLAWS.
In doing this in putting seven hundred
miles of road under single management
and making so many other roads part of
itself and tributary to it, the Vermont Cen
trail has incurred an expense of two mill
lions of dollars more than its current earn
ings. A few months ago the court author
lied the Trustees to issue bonds to that
amount TO make up the deficit. These
bonds must have been good, for two rea-
sons. The business of the consolidated
roads is largely increasing, and there is no
good reason to apprehend any subsequent
deficit of any extent. The most prudent
and skilful railroad managers could have
no question but that the Central, under its
recent absorption of other roads, involving,
as it does, heavy expense at first, would
speedily become a wealthy corporation,
with receipts in excess of expenditures and
the dangerous competitor of the more
southern roads for the western traffic. The
| plans of the managers have been marked
| with great sagacty and have not made a
very heavy discount even upon the future.
| IN the ordinary course of business affairs,
they were destined to be amply realized.
| Precisely at the time when the new
bonds were to be put upon the market
| there came the exposition of the affairs Of
the Rutland road, which the Central had
leased. 1t seems that million and a hal
of floating debt had been concealed from
the knowledge of the Rutland stockholders
aud the Central managers when the lease
was effected. The uncovering of this hid
den debt indirectly and needlessly created
feeling of uneasiness in respect to the
| Central securities, and the bonds that were
| to be issued were consequently not put
upon the market, and the Central has been
| trying to carry its debt as best it could
| This state of affairs has been taken advan-
tage of by certain New York parties TO en-
barrass the Central, drive its paper to pro-
test, bear down its securities by the circu-
lation of all manner of false reports, buy
them up at a deprecated price, and to get
possession of the road and run it hereafter
in the interest of New York. There has
been ''pooE or 'ring' formed in New
York to accomplish this result and active
managers in the New York Central and
other competing roads are said to he en-
| gagged in il. Most of the rumors and bug
bear stories so widely published and circu-
lated are originated by these parties in the
| hope of gobbling up the Vermont Central
and making it tributary to New York city.
| They have succeeded in taking advantage
| Of tl,n nf D,,. 1
which in no Legitimate way affects the Cen
| trial, to shear" the Central securities and
create distrust in Boston and prevent the
negotiation of the two millions of bonds.
| Their object is not to get possession of a
worthless property but of an intellectually
valuable one, and they are taking the sure
means, as the imagine, to do it. Nothing
could better suit this New York "poor'
than TO throw dust in the eyes of Boston
capitalists, prevent their taking the new
loan, by depreciating the security and by
the circulation of thousand and one lies
about the management Of the Central and
the impossibility of its business meeting
| the expectations of its managers. 1t they
succeed in doing this they imagine that the
floating debt will speedily sink the road
and throw it into their hands, and they
will get the finest railroad property in
New England, for far less than its value
and then laugh at the stupidity of the Bos
ton capitalists. 1t is not because the Cen
trail is good for nothing that the want it
| but because, under Its present sagacloui
management, 1t has just como to be tn,
most promising road for business in thu
country. Now If Boston listens to the bug
bear stories of the New York "pool," anC
permits them to prevent the negotiation o
the Central bonds allowed by the court
the result will be, that New York me-
may possibly reap the harvest of Gov
Smiths sagacity, and New York city tax
the immense traffic that the Central is no,
pouring into the market of Boston. Tn
Cunarders may be again withdrawn fror
Boston, and New York will snap its finger
in dersion of the penny wise and poun
foolish capitalists of the New England me
tropolis
No one can see the immense and increas
ing traffic of the Central without at one
comprehending the real cause of the pre-
sent difficulty. The far reaching and ID
seeing capitalists of New York are NJ
hunting down worthless game. They haN
found a splendid quarry and want to get
They know what they are after, and the
, succeed, il will be the most brilliant NOV
; they have yet made.
The die is cast in Alsatia and Lorraine
The time for choosing between German an
French citizenship has expired, and the r