Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-03-28

an annual meeting about four years ago
The Sullivan road was leased to Gov. Smith
Mr.. Brainard and Mr.. Clark, but now tt
Gov. Smith. In any business between the
Sullivan and Central roads the receipts are
divided pro rata. The Sullivan pays AZ
mills per mile for tonnage on loaded cars
going to Boston and q cents per mile on
those going down the Connecticut river.
Had no means of kno wing whether the road
lost by means of the Northern Transporter
ton Co. last year Did not know of any
sinking fund to pay for the boats on the
lakes. The report of the Rutland road
shows that the net earnings had not been
sufficient to pay the rent. The rent is Il
much larger proportion Of the gross earn
lngs than net earnings of any other portion
OF the line are of the gross earnings. All
men connected with the Rutland trains are
paid by the Central. $500 was paid as
4 voluntary contribution from the Central
road to Smith and Clark, to secure the
building of the Montreal and Vermont
junction road. 1t was paid in 1865 or
ls66' One-half Of the earnings, of the
Montreal and Vermont Junction have been
paid to Clark and Smith, as their share, up
to June last. A tram road has been built
from the 5. 5. Il c. road to some mines.
Think some $50. 900 TO $50 900 has been
/
| Think 1t will be benefit to the Trust by
bringing ireights. Have no recollection of
the payment of $1,000 to John Golf, of
cambridge, in connection with the NJ. Il
| Vt. J. Road.
Mr.. Merrill, on crOss-examinatiOn, stated
that the managers had not to his knOwl-
edge, received any material from the shops.
The Sullivan road never had been used to
the prejudice of the Vermont Central. lie
had had charge of the road since 1851 had
never received any directions from Governor
Smith except this; if there were any doubts
always to make them against the lessees and
IN favor OF the Central that road has been
operated in connection with the Central
and has been Of great benefit to it: if the
road had fallen into adverse hands it would
have been of great detriment to the Central
The Montreal Il Vermont Junction road is
straight and Of eaSy,grades 1t was not quite
completed when the Central took it. The
Central finished it and took pay out of the
rents. | thought then, and have always
thought 1t could be operated at 80 per cent,
and At profit to the Central do not think |
50 now. Governor Smith and Mr. Clark |
have both expressed desire good many /
times to sell the road to the Central. |
The accounts have been left open for /
some time for an audit and settlement on n |
fair basis. The Central have got great |
portion of their ties and wood from the ).
). * {. road, and no allowance was made to
Clark and Smith for it, transportation over
the NJ. q Vt. j. road. Ii amounted to some
5000 car loads. or 10000 tons. which
should have yielded some $40. 900. Donot
know what per cent this investment has
yielded to Clark and Smith Do not know
that any OF the managers are interested in
urODprfK on that tram rood III g.,
all construction and repairs on the general
line have been charged to. operating ex-
penses instead Of to construction account.
(which we do not keep and never have has
made 1t more diihcult TO ascertain the profits
OF the road. Have always thought that the
Vt. Central was one Of the most expensive
roads to operate in New England. Do not
know that GOV. Smith Is interested in Il
mine at the end Of the tram road. Tho OBJ
iect in building it Git is about Il miles lons) |
was to get freights. The Sullivan road Is
owned by the Northern railroad. of New
hampshire The first lease o. the Sullivan |
was for five years. The road remained in
their hands up To the time the new lease
RaS taken IN 20 or Il, 10 Governor Smith
'lone. have separate salary Of 81 900
Is superintendent OF the Sullivan. The books
IRE Kept by MIR Forbes, the chief clerk. who
: now dangerously sick. and not able TO
'ome into court. The first rent wa. about q
sd 900; the rent now Is about sos 900 J
think. The average profit to smith. e
lark and Brainerd during the Ist ten ears.
do not know; ,houldn' wonder If it was G
bout $40, 600 per year At the time the ]
ease Wn- made the rent fixed was more than !
he Trustees could safely pay During the
en- years the profit was large. but ID not d
link 1t averaged over 10000. Don't
now whether the NJ. q st. j. road has "
and a profit to its owners or not. suppose ?
he road Is mostly owned BIZ Gov. Smith and u
oseph Clark. In my Judgment that road u
ust have cost 81, 200 10 $50. 600 a mile in
old. The rail Is s. lbs. and iron Don't q
now from recollection what the gross re- 7,
'ipt- ofthe Sullivan road are. There never u
l. been any arrangement whereby one-half {.
as to be paid the les-eo-. The expen.es II
e paid pro rata on the basis of mileage G.
it'll the Central. The profits 20 20 tie =
secs and not to the Trust.