Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-04-04
Is -uct| Lr0lIs u. lEfk.
ANDREW TRACY.
Hon j. 6 Sm Ia and al, Mana ers and Trustees q
Vt Central r. r..

\
Hon j. C Sm tn and al, M4na- and Trustees o.
Vt. Central r. r..
So soon as the Northern road learned
that the trustees had leased the Sullivan,
that corporation Immediately bought up the
/ securities Of the road 10 force the Central
to paw tribute TO that line when the lease
should expire at the end Of five years. The
/ Central therefore secured charter for road
/ from Windsor TO Bellows Falls, whereupon
| the Northern offered to lease the Sullivan
/ 10 the Central for another five years, but
/ increased the rent from SIS 200, which had
/ been paid to Eldridge, to so 500, without |
the use Of rolling stock.
By this operation. a. individuals, they 4
secured the large debt from Eldridge, pre- |
vented the imposition Of high rates and. a. 4
Mr. Merrill testified, made it exceedingly /
beneficial to the Central. The lease was re-
newed in ISL, in the name Of Gov. Smith
for the trustees.
The third specification is that Gov. Smith
during ls67-S-9 By and with the consent
of the other receivers took and used GER
tain large sums of money in and about the
Congress of the Uniied States in session az
Washington. amounting to $50 600. which
belonged to the trust fund. The petition
ers put in no testimony in regard 70 their
specifications. but relied upon the testimony
which would be obtained from the books Of
the Vermont Central Railroad Company,
which were produced by an order from the
court. and which were examined by them,
but before reaching the specification the
motion for withdrawal was made BY the
petitioners. The testimony Of Gov. Smith
upon this point would have been that in
ls66, in company with several gentlemen
in Boston. he subscribed s. 900 TO a gen ,
eral fund for the purchasing of the charter ,
of the Northern Pacific Railroad, which no
one in New York OF elsewhere would touch.
Afterwards he subscribed 500 900 additional
to help on the enterprise. lie gave instruc-
tons 10 the treasurer Of the Vermont Cen
trial 10 protect the drafts made on him in
his absence. The treasurer did 50, charged Y
the amounts on Governor Smith account,
with eight per cent. interest; that he paid (
this per cent. to the Central Company even =
when the company was in his debt. as could Il
be shown by the books. He denies that Il
anything ever was paid in Washington for c
my purpose as alleged.
The petitioners Withdrew their case, )
while the following specification was under Il
The receivers have made n
contracts with themselves for the furnishing L
# equipment and supplies at rates largely -
n excess of the market value of the same - te
The witness upon the stand was Mr.. Brown, Al
ormerly treasurer Of the Ogdensburg road. \
The question put TO him by the counsel for h'
ne petitioners was in regard to the price of
ar wheels. The counsel for the trustees +
hjected that il was not in the specifications; of
he specification was general, and that was l.
The court decided that the OBJ ell
3ctiOn was well taken. The petitioners ON
-ated that they intended show that Cover cy
OF Smith was interested in a foundry. and h.
hat the car wheels cast there for the road r,
ere purchased at higher rates than were N
aid elsewhere. The court decided that to i'm
etermine that question would neceSsitate L
lie ascertaining the quality ofthe iron, the Co
lttern OF wheel, its value in comparison Re
18th others; and that could only be ascer ON
lined by the appointment Of muster. 1t an
As upon this decision Of the court that the nc,
stltioners asked that the petition might lie wa
I'd that master might be appointed.
Governor Smith would have shown that IT,,
had no interest in the foundry: that he ~ ~,
,yer had. He owned the land on which it -;
BOD, and had owned it long before he was "a "a
trustee; that the first contract for car -
heels was made long before be became con- ~
cited with the road, by Messrs Lee 4 va
bridge, who were formerly trustees that -
ey agreed to pay the usual market rates dIe
like material, adding the cost of freight ne
: to 81. Adams from other fOundries 100
1t he never made contract with the St.
bans foundry; that the last contract was phi
de by Mr.. Taylor of Philadelphia, for Il
r trustee, .whc before making it sent the ana
ster mechanic to other foundrIes and as the
tanned their lowest market rates, and 50 Of ,
! IAeu tne oasis ior the contract uhder had
1 1on 'ue WNeeis had oeeh purchased as f
)ne OF the specifications charges that
vernon Smith and Mr.. Clark, trustees,
q IL 4 Id l.
the trust in constructing the Montreal
notion road. Mr.. Clark's testimony was II
only evidence given in regard to the
structlon of the road, and Mr.. Merrill's !
-egard to its operation. The petitioners !
no other testimony TO offer. Governor
th would have testified to the circum
lces under which it was constructed; !.
at the time the Rutland and Central I
panles each agreed to take $4,000 of
securities; that the Rutland soon I
r changed hands, and the new managers
1dlated the contract; that the Central a
the $4,000, and added $4,000 by eaus
g engines and cars during its con- from
elton that to meet these obligations w HI
900 was borrowed of the Northern New been
lpshire road: that SAID Smith and Clark lum,
; their receipts to the trustees for the have
unit; that after the Rutland failed to Whit
|
junction Company consented to ac- Whit
the contribution of the Central as a Proft
4, and the same is to be adjusted and Re
In the settlement now pending; that the
oerating the road it has been his aim and now
to have an arrangement with the Cen versit
on the same basis as with other roads; chit,
the present arrangement is not, and
not been, satisfactory to him as a Sat
ZEE; that he has not studiously and " rra
'letely concealed the matter from the latur,
IS, as alleged, but used his best efforts, Legis
le contrary, to have that road placed NOR
different basis in its relations to the claim
I; that they never have diverted bust ed in
over the road at loss, as alleged The
testimony was offered to show that the claim
ees had used the funds of the trust in cboos
obstruction of the - tram road" as it rewar
allied IN Canada; but Governor Smith did nc
have testified that what is called the large
u road is an extension of the Stan giving
Sheffield and Chambly road; that it pense: