Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1872-11-22
The Vermont Central Railroad Blnlcal,les Fer
Whose Heaeut.

The most which the assailants Of the Yer
mont Central railroad managers have made
out in their charges and ordinations s,thaG
the managers Of the road have not been
able 10 do 80 much in q profitable way with
the lines which they have leased as they
reckOned on. and have not realized income
sufficient to meet all their obligations. This
i the substantial failure of the grave impu-
tatiOns that were east ON the managers. 1t
i demonstrated that the receipts ofthe Cen
tral line have greatly increased under the
present management that the roads are in
excellent condition for practical operation,
that the prospects are bright for 1t that If
the Central were divested of it, Unproftable
leases 1t would be in very sound and flour
ishing state. of course business in such
a state Is not to be despaired Of
There are palpable Indications that the
property in the hands of the Central Mana
gers i very attractive To some other rail-
road people. and that the rad upon Gov.
Smith and his associates j. prompted by this
desire to get the control of the road. The
Central line has been raised from an inte-
ri0r position t. prominent one among the
New England lines. The hard work need
ful to accomplish that grand result Is done.
The field Is =0wn, and Is ready for the har-
vest There are men who see this. and wish
scheme seems TO be developed in the sugges-
tions and arguments offered by the news
paper organ of the assailants of the present
management. The Boston Trdcelier figures
up the bonds and obligations of the Central
company at about twelve millions Of dollars.
1t proposes TO put the company into bank
ruptcy, sell it and take a new start.
But il declares that not mere than
fire millions asl half ought to
be paid for the property. Il pro-
poses 10 wipe out seven-tweltths of the Sc
curities by a bankrupt sale. Now. there
are two points in this proposition which
will strike most folks as a little peculiar.
First. what Will the present holders of the
property say to the loss of Sevcn-twelfths Of
it? Is it quite the fair thing to give them
only FIVE dollars for the twelve dollars
worth of certificates? We doubt if they will
see it in that light Second, what nice,
Juicy plum the buyers of the property for
five and half millions wOuld get, w0uld'n
. they , This Is rather transparent. The as
sault ON the Central Managers seems to be
an artifce 10 ruin 4 company, and then buy
out the property from the Sheriff for a song.
But the plan Is somewhat too bald for pOpu
lar approval. OT lorthe support Ofthe stock
holders
The Central managers have another plan.
They have confidence in the future Ot the
lines, which they now manage. They com
plain Of embarrassments arising from the
peculiar condition of the company, which
i a ward in chancery. TO surmount them
and u realize all the advantages which are
possible. they ask that new new company
be- organized, which will assume all the
existing liabilities Of the present one and
will try 10 carry the load safely and success
fully through. If the owners Of bonds and
other securities are 20 ma ked choice between
the two plans it does not seem doubtful
which one they will accept. They have
the chance TO save all by one. They have
the certainty of losing Seyen-tweliths Of their
property by the other. The Trqreilcr i
very '' high-toned' in its discussion of the
question. But we suspect that the owners
If the road viii have preference for more
cash and for less morality of this peculiar
kind.-Troy Times, Nor. 5fi.