The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1873-05-06

Honesty is first, brains secondary.
The Central Vermont Hailroad.
The Central Vermont Railroad Com
pany was chartered by the Legislature
last fall, for the purpose Of purchasing
Canada nmrtOalrs;' rd.ss1 .NPrWQnt and
for the purpose Of operating and main
tanning the roads under the new manage
ment The old stock and bondholders
held back about exchanging for the new
stock, and last week Mr. Trcnor W. Parl;
of Bennington, 10 behalf Of the New y ork
interest suddenly appeared before the
Commissioners and took large majority
of the stock. Now above twenty thou
sand shares, representing more than two
millions of dollars, has been subscribed.
This successful placing of the stock Of
this funding corporation is matter OF
congratulation, because it relieves the
Vermont Central of the endorsements
under which they have been laboring the
past year or two But it does not indi.
cate, as we might infer from the rchcc-
tions Of the Rutland HcraiE, that the
financial condition Of the old Company
was any better than public confidence had
accredited to it !; nor is it an expression
Of confidence in the present management
In this respect it mas no significance. 1t
means that parties interested in the new
road between Lebanon Springs and New
York and the Harlem Extepson road,
desired, and by this means have secured,
a through line from Montreal to New
York 1t will of course, come under
entirely new management, and in the
interest Of new connections. IL will re-
suit in consolidation Of the several branch
cs and one management will operate the
whole route from Montreal to New York.
1t is likely that the Vermont Central
managers were agreeable to this change,
as in their cmtarrassments they must
have been willing to accept any solution
which would let them down easy. One
effect Of this movement will be to give Us
better connections with New York and
the natural inference is that the change
will be one Of material benefit to this
part Of the state.
1t is not at all likely that the Boston
connections will be neglected either; for
the facilities Of the Vermont roads are
ample to meet the demands Of both con-
nections, and selfish interest guarantees
proper regard for them. This movement
can have no detrimental effect upon any
Vermont industrial interest, and if we can
guard sufficiently against the natural
ly corrupting and oppressive tenden-
cies Of foreign mcnopolies, We need
have no fear Of any unfortunate effect.
At least we may hope it may have no
greater power for evil than the old man
agement has had as it appears from the
testimony Of 10. ID. Hatch with regard
to the feeling Of lawyers and judges and
legislators.
The Legislative Investigation OF the
vermont Central Raiirond Company.
At the biennial session of the Vermont
Legislature last fall, u committee was APP.
pointed to investigate the affairs of the
Vt, Central Railroad Company, with per-
mission to hold sessions after the ad ourn-
ment of the Legislature. That commit.
tee are now in session at St. Adams. They
seem to be making thorough work of it
and if there is Credit Mobiier or other
Objectionable feature in connection with
it. we may reasonably expect to discover
the fact. The trustees and other officers
Of the road have been examined, and they
generally appeared to be ready to afford
facilities, for full information upon every
matter legitimately within the scope Of
this inquiry though occasionally troubled
with bad memory. Some Of the testi-
moDy thus far has revealed conditions not
entirely satisfactory. There has been ev-
idcnce tending to confirm the charges Of
corruption. The leading lawyers, all
over the state, some legislators and even
Judges have been feed in the interest of
the road. There has been a secret SER
vice fund and an agent employed to re.
main at Montpelier during the session Of
each legislature to resist adverse and
promote favorable legislation. This agent,
10. ID. Hatch, was before the Committee
and didn't have memorandum like
Cakes Ames, from which to refresh his
memory. We can only draw our own in
ferences as to the Legitimacy Of these
Transactions. In fact there will be diff
crences of opinion upon that point. We
are inclined 70 wait further developments,
aud will only give at this time an extract
from the published reports of IIatch's
testimony,
$40 d. Hatch was recalled and shown
the receipt which he gave for 81, 600 paid
him for his expenses and disbursements
at Montpelier during the session Of 1860.
He said it was in his handwriting. lie