Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1872-10-02
The Montpelier and Wells River
Railroad.


specified in the contract with the Muns)ns }
if indeed any iron is laid this fall. We are
inclined to think this failure is the fault o.
the contractors, and that they have delayed
completing the road-bed because they were
unwilling to buy iron at the prices which
have ruled during the summer, preferIing
rather to pay the corporation damages or
their contract for not completing the road
according TO the agreement. The advance IN
the price Of iron during the summer has beer
twenty dollars ton, and this advance wOul
increase the cost Of the road t. the contract
ors about $4,000
We do not see that this delay puts the fna
success of the enterprise in any peril. i the
road-bed had been thoroughly completed anc
well ballasted this fall in season 70 lay tt,
iron by the lst Of October, OF even by the lst
Of November, every one would have beer
glad to see the cars running, and all doubts
or croakiDgs respecting a railroad 10 tie
Connecticut river would have been put at
rest and silenced. Still. in that event, the
corporation would have been Obliged to ac-
cept the road, and take upon themselves rhc
risk of the first winters frost and the mex
springs freshets along the embinkments
and every one who has had any experierc,
in building railroads knows that such a rick
is not uncomfortable. If the road should ~
completed early next summer, not only thie
risk would be escaped for the coming win
ter, but the road-bed would be much NOR,
likely to stand we'll through tie next WIN
ter than it completed in the fall, or th.
early winter.
The road is under contract to be built
The contractors are able to build the road
and propose to do so; and the corporation
has the security of ample bond for tie
completion of the work. Besides the corr
poratiOn do not deliver to the contractors al. Y
bonds they are to receive under the contract,
except in proportion to the amount of w,ts
done on the road and this leaves the r.aaI
with a double security for the completion d
the work
We are informed that the directors Of the
road are not agreed, however, rs T. what
course now to pursue, some desiring to sec :
portion of the road. at least, completed this
fall, and others thinking that notlin. vlIu Il
bic can now be gained looking % the bc-
interests of the road, by that course. 10 j. I
proposed, we learn, by some of the Director
to have the iron laid on the Wells River end I
the road, for about thirteen miles. in part ~ /
least, to accommodate some parties ownil- [
lumber and bark along that portion Of the
line and if laying this portion Of the iron
would also be beneficial u the railroad. there
could be no objection to it. The completion
IF a pOrtion.-perhaps ten mies--0l tine
Montpelier end of the road. this fall has as
been talked of. 1t may, however, well be
doubted whether the c1rp1rati1n ought ID
take the rick of the coming winter All
spring, of which we have already spoken
for the sake Of the completion which m4-t
necessarily now be hurried AMI may perhaps
even extend into the winter-of any portion
of the road.
There is, besides this, another very Imp7r-
tant consideration-and to the towns thar
have subscribed for the stock and are to Be
taxed to ray for it, perhaps a controlling
TO what Is to be done with
the road when it is completed VIII the
corporation itself undertake to operate tie
road, or will an effort be made to lease il on
favorable teri to some one Of the connect
ing roads
There are three railroads, the Vermont
Central, the Passumpsic and the Concord
and MOntreal-that might find it for &. en-
interest to obtain a lease Of our railroad.
the whole road were ready To be operated.
all parties would know exactly what the,
were negotiating about. 1t only one end d.
the road we're completed, an element O..
uncertainty would at once enter into thu
negotiation, and to the prejudice OF our road
1t must be borne in mind, if the corporation
would remain master Of the situation wLct
the time comes to operate the road. that d
will hardly answer for it then TO he faan-
cially embarrassed. But the bonds issued by
she corporation are, of course bearing ia-
terest from the moment they are delivered
to the contractors, and that in crest VIII
have to be provided for Wnatev.r iron d,
purchased this fall or winter will call FOL
from $1,000 to $4,000 per mile OF bond. and
the semi-annual interest due on these. bonds 2
next July, in addition to the interest on th-
bonds already delivered as the work ua-
would have to be looked alter
We can see, in this view Of the case. how 4 =
business man, looking wholly to the fuar- !
,ial problem as affecting the road, might .
hesitate about pushing forward I,
The completion of any portion of the road
this fall.
We have already made this article Ionae ~
han we intended, and only adj, in view d
The card published in the FREEMAN twa d
weeks ago from Judge Richardson, President IA
If the road, that we can only see in his &C $
ion desire to do what is for the bret A..
interest Of the road itself, not only in Ia. {
present but in the future lie has been L
charged with being timid and over cautious
but caution, and what some people cell tim
dIty, are not bad qualities IN railroad u
especially when many interests 2
are to be consulted. The Vermont Contra
has had pretty bad manage ment for several d
years-it even had such management at its q
very start-and the result has been that the d
money invested in the road has brought
mall return, where it mas brought any. to /
hose who paid it in. More caution-even
more timidity, like the caution that has &
Almost always characterized the manage
nent OF the PassuDpsic road, might hav,
made the Vermont Central even more profit a
able than the PassumIsic, although the u
after now pays six per cent interest on its u
ntire cost In the light of such examples
We are not inclin to look with severity
Ipon the caution which has carried. we =