The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-05-08
The Change OF control os the VI.
Central.



haps the most important railroad transact
ton that has ever taken place in this State.
As we have stated, majority of the stock
III the new company has been taken by the
capitalists who own the New York, Boston
\ Montreal Road. This is name that is
likely to be more familiar to our Vermont
readers than it has been. Something over
year ago, we believe, we copied an OK
tract from the letter Of New York cor
respondent, pointing out the fact that 1t
needed only the construction of two short
links of railroad, between pieces OF road
already built in the counties OF New YORK
cast OF the hudson, to give new north
and south line, between the Harlem ana
the Hudson, connecting at the south END
with the Gilbert elevated railway through
New York City, and at the north ny way Oh
the Harlem Extension, with the Rutland
Road and Montreal; ana iorcsIauowlnS II
combination to secure sucl me Last
winter the consolidation OF the Harlem m
tension, Dutchcss OOiuihOla anu other
roads OF the proposed inc, was annOucceu,
under the title OF the New YORK, Boston
and Montreal Road Since then the ne
gotiation OF the mortgage bonds OF that
company to tue amount OF SIX ana quar-
ter millions OF dollars, IN England, at an
actual premium Oh TWO per cent. mas been
IDaue PuDiic' nc company mas com
hcnceu .n'S spring INC construction VI 'le
connecting hhhs -ohc oi 'hlr'y hilies from
the terminus of the Harlem Extension at
Chatham \. y, to hit the Duchess Col
umbia roa 1, and one of twenty miles at the
southern end OF the line. Two or three
short branches are to be built by which the
New York. Boston Montreal road will
have dIrcct connection withth IL Roa :,
crossing inc hudson at flshkl'l, win ihe
bosioh, Hartford Ere, now controlled
ny inc ERIE; WIN the Mldiand connecticut
road ana Win inc liOoSac luhnel me
Ana the company has now made sure OF It's
northern connections, ny securing control
OF the VT. Central and its leased lines.
The gentlemen who have effected this
immense combination are Hon. 1. W.
Iark ol Bennington, who Will be by lar the
heaviest individual owner in the new line.
W. H. duncan (oi the hrm OF lluhcall'
Shcrihan 20. }, u. II. Brown, ana other
New ork capitalists, mentioned in the list
OF stocklolders OF inc Central VT, already
published 10y us. They Will complete the
organization OF the Central vermont, next
week, ny the election OF Directors, ma
Joflty OF whom, under the charter, must he
rcsiuehts OF vermont
Among inc important results when VIII
DC secured ny TINS charge, VIII he;
f1'S'' the speedy payment of the large
ioating dept OF the VI. Central trustees.
for inns purpose SZoo'ooo has already been
advanced by me new company, and further
Instruments VIII ne advanced monthly.
Sfr'h"' the strengthening out OF the W.
Central ana W. n Canada affairs, winch
amid all the leases, mortgages, trust debts,
&c, seemed To nave reached MONT be-
yond the power OF courts and chanccllorS
to settle.
1hud, the release OF the Vt. Central
from its anomalous position as ward in
Chancery. Thls, as our readers know, we
nave long considered necessary for the good
name OF our State and Of the Court, rs
well as the best good OF every interest in
volycu.
f0HiW, IL VIII secure Il powerful new
through Inc from New lork To Montreal,
giving the citizens OF the west SIDE OF YER
mont, connections with both OF these cities,
wiiich VIII be speedy ana sure ana not dess
pendent on the capriccs or interests OF Van.
derbilt and the N. \. Central, as our rail-
road connections with New York have here
totorc been. 1t is the intention ofthe COM
pany to put the line under the management
OF the most competent railroad superntend-
ent tnat can pc optained; ana 10 make 1t, IN
COMFORT safety ana regard Tor the public
convenience, equal to any road IN the coun-
Try;
WIN these immediate and great results
VIII be others hardly less important, among
winch, we have reason to believe, will be
the construction OF the Caughnawaga ship
canal.
Inc change Is due, OF course, largely to
the enterprise and capacity OF Mr.. Park.
ne mas laDored Tor many years to secure for
western Vermont reliable through rail-
ting an immense sum into the building of
bennington and Lebanon Springs road, he
found his fortune largely absorbed and his
end stlll unattained through the refusal OF
MIR. vanderbilt to give him through con-
nections with the Harlem, on one end, and
OF the Rutlaud road to connect with him at