Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1873-05-07
The New Deal.


was to consign to eternal infamy the pres
cnt managers Of the Vermont Central rail.
road, If we were to believe the statements
Of the Boston Trareller,) the books to re-
ceive subscriptions to the capital stock Of
the Central Vermont Railroad, corpora
ton chartered last fall to supersede the
present awkward and left-handed manner
Of running the road, were opened at st.
Adams The result was that within three
hours from the time of opening the books,
two millions of dollars Of the stock Of
the road had been subscribed for, aud the
amount required by the charter TO be paid
over at the time Of subscription was ad.
vanced.
We publish elsewhere list Of the
stockholders 10 this new corporation, with
the number Of shares taken by each A
glance at this list will reveal the fact that
a very large majority of the stock is held
by New York participates interested in
the New York, Boston and Montreal rail |
road, into which that portion Of tho Cen.
trial road and leased lines lying between
Rutland and Montreal will be merged, and
form an important link.
We have so long been accustomed to
look upon the Central as Boston institu.
ton, that the knowledge that majority Of
its stock had been transferred to New
York capitalists, was at first genu-
Inc surprise. And yet little reflection
shows that there is no one at fault except
Boston herself The difficulties under |
which the road was laboring, the remedy
proposed, and the time Of its application,
were fully advertised and well known by
Boston parties. They were besought and
implored to subscribe, but neglected and re-
fused so to do. In this state Of affairs, |
certain New York gentlemen, of the largest
wealth aud highest business sagacity, step
ped forward and seized the valuable prize
which Boston by her supineness suffered
to slip through her fingers.
Next week the organization of the road
is to be completed by the election of new
board Of Directors, and the other necessa-
ry officers. BY provision of the char
ter, a majority of the board of directors
must be residents of Vermont The re.
suit of this election will undoubtedly dis
close that there is to be no general change
of officers of the road. Governor Smith
will probably be selected a, President, and
the other tried and competent officers will
not be turned out 10 make room for others.
We are given to understand, upon com.
petent authority, that not only that portion
Of the road which will form a part of the
through line between New York and Mon
treal, but the other portions Of the road, are
to be put at once in the very best of repair,
and that yet ampler facilities for commune
cation with Boston as well as New York
are to be afforded. Both the interests of
the road, and the interests of the people
living along the line Of the road, demand
this; their interests are identical 10 this
particular. and we have no fear but we
shall be amply and well accommodated.
In this view Of the case, with the exception
Of Boston, we see no one who is to be in
jured by the change. 1t is inevitable, how.
ever, that large part of the business Of
this State, which now finds market in Bos.
ton, will be diverted to New York aud SO
Boston will suffer by the supineness of her
capitalists.
We have in our mind two gentlemen, of
great business sagacity, indomitable energy,
and large wealth, to whom we think this
new arrangement will afford uubounded
satisfaction. We refer to John Gregory
Smith and Trenor w. Park, names well
known in Vermont, and honored wherever
known. Prosecuted and maigned by every
insinuation which the malice of powerful
business rivals, the ingenuity Of able law
yers, and the skill of an INSCRIPTIONS press
could invent, they have come out of their
trials refined as by fire, aud have now an
opportunity to show the public that they
are yet trusted and honored in the highest
financial centers of the country, and to put
to rest the baseless ISLANDERS which have
been heaped upon them. This result is
certainly great and deserved triumph to
them both,