Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-05-08
run RUTLAND HERALD
MONDAY, MAY 5, 1878.
The Central Vermont.

,,,bo last session of our Legislature,
na central Vermont railroad com
vi, was chartered for the purpose of
purchasing the Vermont Central ana
P ,,D-n,ont and Canada railroads, or either
e .,, of purchasing or retiring ''by
ovcbanoe or otherwise, - OF the STOCK
Ids Of said railroads, and for the
'n ,r,,oso of operating and maintaining
PU pun roads It was provided in the act
, ,'' said company that when
thousand shares of the capital stock
o"s ,.ricb would be one hundred thousand
- were subscribed for, the COM
,.,iorors receiving the subscription,
,,,Jd call meeting of the stockholders
~. ,he purpose of electing directors and
.oniziur the company. We have al
o.. announced that over twenty thous-
,l .harcs-being over two million dol
of the stock had been subscribed
+r That this was a matter of surprise
.rarrone is true. That it was a sur
-i.. +. NOT strange, when we consider
u,.. nar.isteut efforts which have been
nal. 10 dppreciate the securities OF the
I.rmont Central railroad company, ma
,.,o ;ts managers and, to some extent,
..aJarratr the importance and value of
,n,, railroad and its leased roads. The
...n't Is. certainly, a great and deserved
,riamph to John Gregory Smith and his
associates. There is no question that
,,.;. success is due mainly-if not solely
IN fhe great confidence reposed by cap
.,,r.t. and business men in his integrity,
.yo,rftv and executive and administrat-
t,.. ability. To secure the success Of
,n,s nr.irct. 50 vital TO the Interests of
..acnrity-holders and creditors OF the
,-..aort Central and Vermont and Cau-
..l, railroads, the interests and develop
,...l,f the Central line-iRCluding, of
...or.,. ms leased roads and the benefit
If rbr general public, Governor Smith
has devoted his time. talents aud ener-
.d.s f,rn,ouths past There is another
matter ot cougratulation to the citizens
,f western Vermont. Four fifth Of the
stock is held tv residents of western
Vermont and by those interested in the
New York. Boston and Montreal rail
roqJ We very much fear that Boston
hqs suffered valuable plum 10 slip
aaugh Ter fingers. Not that the lines
running naturally to Boston will not be
f..t.rrd and developed by the new com
o,py This their own interests, OF
course. wvnld compel them to do. The
natural market Of western Vermont,
however, is New York city. The hand
If God-wp say it rcverently-has fixed
this malcrably. Ourtrade with Boston
has been. so to speak, forced one. Bos-
top ought to have seen her opportunity
and saved the business of three-quarters
Of western Vermont, which she, for
wears. has enjoyed Hercapitalists have
seemed to realize this fact in years gone
nv. bat now by their supincness-not to
INV direct action-thcy are allowing it
Il. Sin away from them. That which IS
her loss, however, is New Works gain.
1t Is. also, the gain, the great gain, OF a
large and productive portion OF western
Vermont. An easy, direct, natural
channel for trade is opened between the
great West. New York, Vermont and
Canada. The New York, Boston and
Montreal railroad company, by thus St
curing a controlling interest in the Cen
trail Vermont becomes, rs it were by a
.inglr step. the most important corpora
tom in the country Our citizens. on
0Ii- account need have no fears of a
monopoly" or Of "crushing exactions,
for the charter of the Central Vermont
provides that there shall be not less than
seven nor more than thirteen directors,
"a majority Of whom shall reside in and
be citizens Of the State of Vermont.
Our own citizens have, heretofore, when
in the management eff railroads protect
eI our interests and we have no. fears.
on that score, for the future,