Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-11-07
The Central Vermont and the Vernon anu

In the report of the president OF the YER
mont and Canada Company, suomlt'eu az
the late annual meeting of that company
the new Central Vermont corporation was
alluded to as "a sort of Credit Mobllier IN
Vermont" and it was declared that us
organization was not made in the interest
of the security holders Of the Vermont zen
trail line. These statements, sufficiently eA-
traordinary in a formal report, ana as IT,
ferring to q new corporation, whose ohi9
action and of course only crime hau Oe'N
thatst had taken the liberty to organize
under its own charter, supply the means
for paying the floating debt oil the oiu
management. and take possession oil tne
roads by order of court and by virtue Vi Us
act of incorporation, were followed at the
meeting by speeches quite as false ana more
insulting, declaring that the directors Oh inc
Central Vermont were trying to depreoi"''
the stock of the Vermont and Canada ID
order that they might absorb 1t at a irac'ion
of its value and these by editorials IN inc
organs of the opposition to the Oen'i a.
MANAGEMENT. which declared the purpose Oh
the Central Vermont to be TO ROB inc
security-holders, and "swindle' European
csnitalists. Such scurrilities, applied to an
organization Of gentlemen of high char
aeter and responsibility, engaged IN a per-
fectlv legitimate business operation, must
seem surprising to those who do not recall
some If the facts in the recent history Of
our railroad complications. such, Tor IN
stance as that certain influential managers
If rival railroad lines undertook the dellber-
ate task of breaking down the Vermont
Central management by destroying the credit
Of the managers and trustees in the market;
that they found willing assistantsin certain
parties in Vermont, mainly in St. Aloans'
who Lad grudges Of one sort and another TO
CRAFTY against the managers; that they
made the most Of the legislative inyestlgat-
inc committee and the petition OF the YER
mont and Canada for the ejectment OF the
trustees but failed in their attempt to dis
grace the managers, or to secure their eject
ment; that finally the new Central Yer
mont corporation, with strong names and
ample funds. stepped in between them and
the accomplishment Of their last hope that
the management might collapse and go into
bankruptcy. Disappointed and bafiled at
every point, they now turn sayagely on the
Central Vermont, and as they cannot attack
it for anything it has done, they abuse tup-
hill and down for what they say it is going
to do.
The directors of the Central Vermont
have maintained dignifed silence hithtr-
to. But the formal communication addressd
to them by the Vermont and Canada directors
has afforded them an opportunity which we
are glad that they have inproved,to declare
their intentions The resolutions We print
below were offered by Mr.. Duncan, Of the
well-known firm of Duncan, Sherman u
Co., whose name Is a synonym for rella-
bility and straightforward dealing, and
they were unanimously adopted BY fall
Board of the Central Vermont Directors. 1t
will be observed that they Gala " repudiate
the statements of their purposes made BY the
President of the Vermont and Canada and
his associates and abettors that they as
sert their desire for harmony Of interest and
action between all the parties in interest,
and their willingness to adopt any sugges-
tions from the Vermont and Canada for the
promotion of the interests Of all and that
they unequiyocally recognize their obliga-
t1nS to the public On these and other
points, the resolutions speak for themselves,
and we commend them to the careful atten-
ton of the community. and Of the Pres
Surely it * not too much to ask Of fair
minded men. that they shall accept the
declaration Of their interests and purposes,
from those who alone can know what those
interests and purposes are, rather than
from prejudiced, malicious and necessarily
in this matter, ill-inlormed parties and
presses. As the brief and only reply Of the
Central Vermont to the attacks upon them,
we trust our brethren of the Vermont Press
Will copy these resolutions. They seem to
us calm, timely, and excellent, and we
believe that in them the Directors Of the
Central Vermont mean all that they say.