Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1873-05-07
The Central Vermont.


building of the Central quarter of a cen
tury ago. denounced by many as a wilt
scheme, and costing SO heavily that the pro-
ceeds OF the original stock were swallowed
IN construction, was 10 reality an enterprise
that has proved the soundness of the far.
sighted policy of its early promoters Aftel
ats carly vicissitudes, the business talent @
the present president and bis co-adjutors
Put 1t IN the front rank of New England
roads, and made it the coming :. thorough
fare > for the wealth of traffic that the de.
Eelopment Of our northwestern territory and
the opening of great route to the Pac.f
will bring, as well as the immediate possessor
of large share of the great western pas
seuger and freight custom.
The peculiar position of the road as q
ward of chancery, and the temporary embar-
rassment OF the management, through tie
large expenses arising from the running of
the leased roads. enabled watchful set OF
men to take advantage of tbs condition Of
affairs, and to create, not ouly a general
d'strust of the ultimate success of the en-
deavOr to make the Central the nucleus o. a
great line from Boston to the Northwest INT
also dIstrust Of the honesty of the trustees.
Those who watched the course Of affairs last
iall, know that there was a persistent eff ,rt
on the part of a portion of the NeH En- ID
press to cast discredit on the men IN chirre
of the Central. This was not c1nfiaed IN L.
gitimate attacks upon their plan Of oper7-
lions for the enlargement of the business of
the road, which are of course in order whe:l
conflicting Interests meet, and when divi-
dends cease. and holders of securities have
to trust what the future holds ia store to
take their place. Dividends and prompt
payments are tangible things of the present.
and those who looked for them could not b.
expected to look with kindly eyes upon ex-
penses that ate them up to nourish the bod7
corporate for coming feats of strength. The
eye OF filth was wanting
We do not think that the president and
trustees of the road would have objected to
such business criticism; though they were
confident IN their ultimate success, they
would have seen without surprise that theirs
were not so sanguine.
But it is not strange that when accused Of
. belonging to the Astounding modern genus Of
railroad gluttons, who betray trust and
pocket all the earnings, when accused OF
about every kind of corruption that has ever
MI tn
men should have been Indignant at the course
pursued by their opponents. So great charges
ought at least to have been supported bv
some proof that would give r, asonable
man cause to doubt instead of the baseless
fabrics that have faded away in the light o {
the testimony OF the prosecution > itself.
both at the chancery and legislative hearings.
The bill providing for the formation of the
Central Vermont, was, We doubt not, passe
with the hope that Boston capitalists would
take hold and help preserve the Vermont
Central as great feeder from the West
Governor Smith made a showing of the a
fairs OF the road last fall that seemed salts
factory to such Massachusetts capita lists az
were present. New York, by her railroad,
running down from Albany, is drawing the
produce and trade of cur northern tier of
Western States; Portland by the railroad to
Osiensburgh. is reaching for the freight and
other trade that has hitherto been especially
tending toward B ,ston. But that venerab e
city. lost in the contemplation of the glory
OF its founders, spent its time in ponderlng
the great commercial and moral questi } n
whether it should keep the proprietor of the
IrdUsIer upon its aldermanic board, to give
dignity and stability and SO forth to that
august body of men.
Then came the hearing before Chancell ,rs
Royce and Redfeid, and because of a tavora
bic result to the trustees, the charge of q
corrupt Judiciary and subsidized press wa.
raised by pap r, which sends to the late
hearing reporter, who either f4lsifes test
moDy, or don't know enough to report i
correctly. Then whe1 the trustees wer,
meeting before a legislative committee. tn
same charges explained last fall in Boston
and explained again IN March, the subscrip
ton books of the Central Vermont wer,
opened in St. Adams.
On the day of opening over two millo
dollars were subs ;rhed, and the new compa.
ny will soon be organized. The result o
this days subscription will long be fels b.
the business interests both of Boston an
New York. While perhaps quarter of th,
amount subscribed WAS taken by Gov. s5mit
and others largely interested 10 the Vernon
Central, more than three quarters were take
BY parties in the interest OF the new consoli
dalton called the New York, Boston & Mon
treal road. Trenor W. Park takes over hal
a million, and New York parties over
million.
1t appears that Mr.. Park, after his sue
cess In combating his opponents in the leg
islatures of 1867 and 1868, fou1d niue
money and labor gone into his railroa
schemes and nothing very profitable to sho,
for it all, by reason Of failure to connec
properly with roads to New York CITY
through the obstiDacy of Com. Vanderbilt
it is reported. While MIR. Parks opponep,
came up to the Legislature and rejoiced tina
they - had got him UNDER Mr.. Park ha
been engaged in business add has no dout
put money 10 his pocket. He has been a
the bottom of the movement which resulte
10 the New York, Boston and Montreal Com
Dlnation. The construction of two shor
pieces of road will give this company trac
to New York City, independent of Wander
bits roads and the control of the Contra
Vermont will give them the completion c
their line to Montreal. Mr.. Park has Iatel
been in London, and has bssu instru menta
IN negotiating loan of six millions for tn
new road on extremelv faxora bile terms