The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-08-11


some prefer to say, the monopoly" and
the last of these, given on the 21st of June
last, removed the trustees and managers
from their position as such, by their re-
quest and appointed the Central Vermont
railroad company. n corporation, receiver
and manager of the vast and important
trust property of the security holders of
the Vermont Central and Vermont and
Canada railroads under bonds in the sum
of one million dollars for the faithful dis
charge of its duty, under the orders of the
court Almost Immediately upon the rem
dering of this decision came lull in the
wordy storm which had been beating round
the outgoing officials and the dogs of war
were unlooscd upon the judiciary of this
state. A correspondent of the Springfield |
Republican, in an article published July |
and most ignorant blow, which was fol-
lowed up by three column editorial four
days later, and since then has been heard
the rafting of such small hammers as the
w. <hibuhS @Hto'tNJeff NbptStbth t'tftWNf|u
and other papers which we should suppose
would he unwilling, hastily and ignorantly
to condemn the Judiciary of their own
state, ON which, so far as the writer is in
formed, no shadow of blame or doubt has
ever rested since the organization Of our
government.
1t is not my purpose, however, to refer
10 these articles in detail, that being more
properly within your editorial sphere, and
| shall confine myself, as closely as pos
sible, to my specific purpose which will
define as follows The articles and com
ments which have appeared in the public
prints in relation to the various phases of
this controversy have been for the most
part in journals of good standing and many
hay most of thcm--have manifested
ability and learning. Some of these to the
writer's certain knowledge have been the
work of men of good, and even of high
standing in the legal profession and ac-
quainted with the forms and practices of
the Vermont courts. The writer trusts
and believes they have generally been
honest, and yet SO far as his observation
has gone, they have without exception
contained more or less false or mistaken
assertions or assumptions, and have uni
versally shown the ignorance of
their writers regarding the true
status of the great suit in Chancery
which is the center, and nucleus of all
the Migation connected with this railroad
war. Nor is this to be wondered at, for
the case has no familiar precedent, if in
deed any precedent case be found, and so
different has been its course from the
course of ordinary chancery practice in
this country that it may almost be said to
be "a law unto itself, and only study of the
case can itself qualify man, be he never so
familiar with the paths that in his opinion
it ought to have followed, to judge of its
merits. From a careful examination with
such aids as are accessible, it is my purpose
to give a condensed history of the case,
with particular reference to its recent fea-
lures and the action of the judiciary 1t is
not my purpose to follow the genealogy of
the Smith family or of any members of the
''Ring" back into the third or fourth gener.
alton, to prove by moral induction the pro.
priety or improperly of their wealth, but
merely to define from disinterested stand
point the status of the said "Vermont and
Canada Railroad Company VS.. Vermont
('antral RaiIroaI r,,,, =,
Chancery.
For my purpose it will not be necessary
same time ended and begun this cause, ex
cept for brief explanation. The suit was
commenced in 1856 ostensibly upon the
same ground of complaint as that of tn,
proceedings instituted last December
namely, the nonpayment of rent to thu
Vermont and Canada road, which road wa
held as leasehold estate by the Vernon
Central, and by the terms of their con
tract, in case of failure to pay rent by tn,
Central, the Canada was to have the righ
to enter upon and run both roads until it
claim should be satisfied. This contract
was held to be valid and binding by the
court, and accordingly on the 18th of Ma,
1855, an order was made putting the Cana
ola Company in possession, and il continued
to run and operate the roads for about tn,
space of one year, when an agreement was
made by the parties in interest, and on the 6tl
of May, 1856, all parties in interest appear
ing and assenting,a AN order was made by tn,
Chancellor that possession of the property
be restored to the trustees of the first mort
cages to be managed by them as receiver
of the Court of Chancery in the interest o.
the security holders. The measures i
} would appear, were intended as tempo
rary provision for the care and manage
ment of this vast estate pending the fna
decree of the Court on the Orators peti
ton In April, 1850, this decree came
granting the prayer of the petition.
prompt appeal from this decision to til,
Supreme Court was taken by both parties
and the case was heard by the Suprem,
Court at its January term, 1861, and is re
ported at length in the Bath Vermont Ii
the opinion of the Court, delivered by
Judge Barrett, the rights of the Canada
company under their contract with til,
Central are recognized and established Sc
far as to entitle them to their rent, which
is fixed at the sum of eight per cent. pei
annum upon 81 ,34S, 800, the cost of con
struction of their road, but, says Judge
Barrett, ''ln the present position of thu
case, the Court being unable to decide tina
that the Orators are entitled to the pos
session of the roads, property, ETC., itseemi
obvious in view of the character of thu
property and of the various interests in
volved that the only proper or practicable
course is to have the roads and propert,