Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-03-28

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year for his services in connection with thu
, Car Company and the northern railroads
, he had only IS 900 from all sources.
, A discussion followed in regard to thu
, books of the trustees in relation to the
secret service fund, ending in the issuing Of
an order to the trustees to produce then
for the inspection of the court.
Adjourned.
THIRD DAY-THURSDAY.
GYLEs MERRILL
was recalled for an explanation in regard &c
the per centage of expenses of the road. The
first seven years dating from 1861, the ex-
penses averaged rs per cent, and the last
six years - of the gross earnings.
Cross-examined by Mr.. Hard-Hc was
asked to examine the books and testify as to
the earnings and expenses of the Sullivan
road, and the court directed him to do so.
The secret service cash book testified to
by Mr.. Williams, and another book were
produced in court
Gov. Smith expressed his desire to be al
lowed to give an explanation before they
passed into the hands of the counsel.
The Governor then gave the counsel for
the opposition few explanations, in re-
gard to the cash book already IN court. The
books were then laid aside for examination
and
=. STEWART sTRASAHAN
was recalled. He said that representatives
OF all the roads composing the line between
Boston and Chicago were originally, and
are still stockholders in the National Car
| Company, save the Northern On. IL. road.
j. q. Smith now owns 756 shares, Joseph
| Clark l32, W. c. Smith, $50, b. p. Cheney
800. Mr.. Mills owns about the same as
the Governor. There are 10000 shares of
this stock.
u. L. HARRIS
testified that he is president Of the Connec-
ticut River road and has been since 50. lie
was asked as an expert, as to what were or
binary and what extraordinary expenses of
railroad. lie was asked if the Rutland
lease was, in his opinion, judicious for the
Central. Objected to and ruled out by the
court.
No freights at less than $50 a car load
could pay any profit 10 any line between
Boston and Chicago. All the freight rates
between Boston and Chicago return the
smallest possible profit, if they do not result
in loss. The Boston and Albany get
about $50 car-Of ten tons. The rail /
road companies have to pay for the cars,
whether full or empty. Witness never /
heard, until Mr.. Mills testified, that it was |
better for the road bed to haul n car par |
tally loaded than one that is empty.
The cost Of ordinary box cars is about /
$500, and has been for two or three Years /
past. He had not bought any, and was not
absolutely certain about it.
About the time Gov Smith took the Rut-
land lease, witness discussed it with him
somewhat. lie remarked that he had told
his associates that they must not be sur
prised If the first year the loss was SI7j,-
600.
DIV. C. BROWN
was General Superintendent Of the Ogdens
burg road for four or five years before its
lease. Was invited to attend meeting at
81. Adams before the stock in the National
Car Company was taken, in reference to
getting up such company Gov Smith
urged Mr.. Pratt, our President. and nv
self, to 20 into it, and it was proposed to
Us that if We would take a certain proper
ton. One-half the business should 70 over
,ur road instead Of ria Montreal. Mr..
Bridges, of the Grand Trunk. was present,
and objected to this. Mr.. Pratt. by nv ad-
vice, told Gov. Smith that he was not au-
thorized by his company TO take stock. and
That he could not do it individually. lie ,
md ] had talked about the improprietv Of ,
Icing it Individually.
The counsel here inquired what the price I
II car wheels was at certain time OBJ I
ected TO. The court ruled that the receiv- d
rs were under bonds, their accounts had
not been settled since 1866. This matter Of :
ar wheels and all other supplies should I .
properly come up in the settlement Of that n
ccount; this hearing is not for an account r
NJ, and therefore this testimony is now in 1
dmissible. -
Mr.. Hard and II. 5 Royce argued that ?,
'hen q receiver makes money at the ex- n
ense OF the trust, 1t Is ground for removal. !,
nj that they had right 70 prove the fact. o,
b that end. ~
Mr.. Fitield replied that the court had de- :,
ded (2jth VT that the Trustees have the
sSponsibilIty for running the road. and A.
nat the Court will not sit continually on "
leir affairs. The Trustees don't claim the n,
sht TO trade with themselves. and on ac- n
lunting II there Is anything wrong the .
ourt will reducei it. II
Chancellor Redfcld said the complainants ne
nj right TO call the trustees to the most N
gid accountability. but the Court will n
Did them TO 1t in an action for an account me-
z. II You can 20 into the matter of car I'm
heels You can inquire as 10 all other sup n
les, and this would involve a thousand in co
llries a. To the quality and prices. which Ell
e Chancellor cannot spend the time to in fol
lire into. ~
Mr.. Davenport here moved for a recess Vi,
I'll afternoon. In view Of what had lust ~,
len from the lips of the Court, his present re-.
inion was that he should advise hi. lin
ents they they had mistaken their rene ii,
, and that it would save time to abandon as
is proceeding and proceed in some other if,
m. 49,
AFTERNOON.