The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-07-14
THE CENTRAL VERMONT RAIL.
ROAD


ItVAD.
Order OF Chancellor Royce.
We find in the st. Adams Messenger the
order of Hon. Homer 4. Royce, Chancel-
lor, placing the Central Vermont railroad
in possession of the property operated by
the court in the case of the Vermont and
Canada rail,0ad company Us. tie Vermont
Central railroad company ct as, as sub
ject of interest to our roads, and part of
the history of the remarkable legislation
VERMONT AND CANADA II. H. co. as vER-
MONT CENTRAL IL. II. co. EFT AIS, IN
MISUNDERSTANDING COUNTY.
And now upon the petition of John
Gregory Smith and others and the Central
Vermont railroad company, duly verified
and filed in this cause on the ID day of
June, A. ID. 1873, it appearing that the or
der of service and publication thereon has
been fully complied with; and the said
John Gregory Smith, Worthington c.
Smith, Joseph Clark, Lawrence Barnes
and Benjamin p. Cheney appeared by Levi
Underwood and b. F. Ffeld, said Central
Vermont railroad company by f. J. Phelps,
said Vermont & Canada railroad company
by f. II. Hard and A. G. Stafford, said Yer
mont Central railroad company by its Pres
idcnt and j. NJ PinkertOn and Otis Drury,
a majority of the committee of the first
and second mortgage bondholders having
appeared in opposition by A. e.. Stafford,
and all parties having been fully heard, it
is ordered by the court:
LIST. That the said j. Gregory Smith,
Worthington G. Smith, Joseph Clark, Law
renee Barnes and BEN amin p. Cheney, the
now acting Receivers and Managers of the
Vermont Central and Vermont IL Canada
Railroads, and property connected there
with and appertaning thereto, without in
any manner impairing or affecting their
legal obligations rs such receivers and man.
ayers except as herein provided, be at their
own request discharged from their said
Office as receivers and managers from and
after the date of this order so far as the
possession. management and control of said
railroad and property now under their con-
troll, is concerned. That their accounts
as such receivers and managers be settled
and passed, and until they are settled and
said receivers and managers are finally dis
charged, they shall be subject to the order
and under the protection of this Court.
I'd, That said Central Vermont Railroad
Company, now shown to the court to have
been duly organized under their charter, be
and they hereby arc constituted and ap-
pointed receivers and managers from and
after the date of this order, in the place
and stead of the said ]. Gregory Smith,
Worthing.on c. Smith, Joseph Clark, Law
renee Barnes and Benjamin p. Cheney, so
far as above stated; and as such they are au-
th0rized to assume the possession and control
of all the railroad lines of transportation and
other property now underline control of said
G,,,:tI 4.
Clark, Lawrence Barnes and b. p Che
said and are hereby, from and after this
date placed in the exclusive possession of
all of said railroads, lines of transportation
and other property, to run, manage and
operate the same, subject to and under the
DEGREES and orders heretofore made in this
cause, and subject at all times to the fur
| ther orders and directions of this court |;
and as long as the Central Vermont Rail-
road Company shall continue to act as
| such receivers and managers as aforesaid,
it shall be and hereby is vested with all the
rights, powers, authority and privileges,
which have been the said outgoing receiv
ers and managers by any decree or order
of this court in this cause.
| 3D. The said Central Vermont Railroad
| Company as such receivers and managers
shall assume and pay all debt and liabilities
incurred by said outgoing receivers and
managers, or either of them as SUCH or as
trustees and managers, or in their name or
either of them, or as individuals for or on
account of the trust which they represent
and shall also pay any sum that may be found
due said receivers and managers or eth
| er of them as such on settlement of their
accounts as fast as the same becomes due
and payable, and fully protect and ndem-
| nifty them from and against all personal
liability, cost or damage in respect thereof
That for such payment and indemnity so
to be made by said company and for all
other payments, advances or liabilities
which may be made or incurred by such
company as such receivers and managers,
under or by any order or decree of this
court now existing, the said Central Ver-
mont Railroad Company as such receivers
and managers shall have the same lien upon
said trust estate and property as said out
going receivers and managers now have
That until said payment and indemnity
shall be by said company fully made and
completed as required by this order, said
trust estate and property in their possession
shall, rs against them, stand charged with
a special lien in trust for the benefit and
security of said outgoing receivers and each
of them against any and all personal liabi-
lily in respect of the debts. claims, causes
of action, costs and damages aforesaid.
And IL said company shall fail to assume
| and pay the same as aforesaid or to indem-
Nifty and save harmless the same outgoing
receivers and managers as herein required,
they or either of them shall bo entitled to
u summary order in this cause either for a
restoration of said trust estate and other
property TO their possession, for the pur-
pose of their indemnity or for immediate
payment, or for such other relief as will
give them the most ample and complete
protection in the premises.
4th. That as an additional security to the
outgoing receivers and managers without
prejudice to the remedies or securities afOre-
said, said Central Vermont railroad COM
pany upon taking possession of said trustee
estate and other property, shall execute
and deliver to said outgoing receivers and
managers u covenant agreeing that they
will assume and pay all debts, claims and
liabilities, And fully indemnify and save
harmless the said outgoing receivers and
managers and each Of them against the
same.
9th. That schedule and inventory of
all the personal property of every descrip.
ton turned over to the said Central Yer
mont railroad company as such receivers
and managers under this order, by said out
going receivers and managers, be mace and
filed by two persons to DO appointed by the
Chancellor.
9th. That Honorable Timothy p. Red
field be and he hereby is appointed spec
ial Master of this Court, with power to