Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1874-01-23

The negotiations for the purchase OF the
Vermont and Canada road, by the Central
Vermont. evidently occasion considerable
distress TO the Il. Adams Messenger. which
in A labored article undertakes to show
what bad bargain it would be for the
Vermont and Canada. The Vermont and
Canada stockholders, however, are not
likely to quarrel with an arrangement, the
first rumors of the possibility oiiwhich have
caused an advance of their stock in the
market. With regard to the various details
Of the bargain, We have no opinion. Ihe
parties concerned can be trusted to look out
for the various Interests involved and to fix
terms which will be mutually satisfactory
Butan arrangement which shall put an end
to fruitless and exhausting litigation, con-
solidate more thoroughly than ever the roads
and enable the Central to get out of
court" and devote itself without such
distractions to the development Of its busl-
ness, the payment Of its debts. and the ac-
commodation of the publie-is certainly
consummation devoutly to be wished.
The Boston Traveller, wiser than its 81.
Adams conirere, is. we see, disposed to
accept the situation. 1t says
Negotiations are in progress for n settle
ment of the matters in controversy between
the Central Vermont and the Vermont and
Canada Railroad Companies, under the
influence of which the stock Of the last
named company has suddenly advanced.
1t Is understood that the basis of the pro-
posed settlement Is the sale of the Vermont
and Canada road to the Central Vermont
Company, for the round sum of three
millions Of dollars, payable IN mortgage
bonds on the Vermont and Canada road,
running for thirty years, with interest at
the rate Of six per cent. For the amount
Of back rent due the Vermont and Canada
road, amounting to 100000 per month
Tor eighteen months, the Central Yer
mont gives eight per cent equipment
bonds 10 the amount of fifty per cent
On the amount due when the proposed ar
rangements shall be carried into effect. The
Central Vermont Company also agrees to
guarantee to assume any liabilities hereto
fore incurred by the Vermont and Canada
Company. The amount of the bonds 10 be
given for the Vermont and Canada Company
will be equal to its present capital stock.
The arrangement, if completed, a it Is
likely to be. will be Of ADVANTAGE u the
security holders of the two corporations, and
to the business portion of the community.
They are satisfactory to many OF the parties
interested in the Vermont and Canada road,
who have been made acquainted with the
terms proposed, and it Is understood that
the managers of the Central Vermont will
soon have a meeting at New York TO take
them into consideration. 1t Will require
some weeks, perhaps months. TO complete
the sale.
The Springfield Republican is also evident
ly prepared to accept the situation, since it
must, and is frank enough to own that it
is better for the Vermont and Canada TO
sell on the proposed terms than to con-
tinue the quarrel, which was Of its own
making. The Republican says:
This is simply selling yourself and taking
yourself for security; but it i probably all
the Vermont Central has to offer and better
for the other party than the continuance of
the present profitiesS quarrel. Some weeks,
at least, will be required for the perfection
of the bargain, even if all parties are agree
able to it; but the announcement of the
negotiations has favorably affected the YER
mint Central securities