The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-01-21
ahc NcEOtiatiOns gOr the sale Oh ihc
Vermont and Canada

Negotiations are in progress for settle
ment of the matters in controversy be.
tween the Central Vermont and the Yer
mont and Canada railroad companies. I'M
der the influence of which the stock of the
last named company has suddenly advanc-
ed 1t is understood that the basis of the
proposed settlement is the sale of the Yer
mont & Canada road to the Central Yer
mont company, for the round sum of three
millions of dollars, payable in mortgage
bonds on the Vermont q Canada road,
running for thirty years, with interest at the
rate Of six per cent. For the amount of
back rent due the Vermont & Canada road,
amounting to 100000 per month for Is
months, the Central Vermont gives eight
per cent equipment bonds to the amount
of fifty per cent on the amount due when
the proposed arrangements shall be carried
into effect. The Central Vermont company
also agrees to guarantee to assume any liza
bilities heretofore incurred by the Vermont
Il Canada company. The amount of the
bonds to be given for the Vermont IL Cana
da company will be equal to its present
capital stock. Boston 7rarelLer
The above statement of the 1raceler,
while not technically is in the main sub
stantially correct. As both boards have to
pass upon the proposition it is but judc-
Gus TO await their decision before entering
into useless newspaper discussion of mat
tiers that are merely subjects of proper
business scrutiny for the contracting par
ties of both corporations to pass upon
Meanwhile this community will doubtless
agree with the following editorial remark
from the 1raceiltr, which speaking in the
mood of public spirit rather than of pri-
vatc spite says
"The arrangement, if completed, as it is
likely to be, will be of advantage to the
security holders of the two corporations,
and to the business portion of the commu-
nifty, They are satisfactory to many of
the parties interested in the Vermont and
Canada road who have been made ac-
quantcd with the terms proposed, and it is
understood that the managers of the Cen
trail Vermont will soon have meeting at
New York to take them into consideration.
1t will require some weeks, and perhaps
months, to complete the sale.
1t will be noticed that this is the voice of
Boston, and that portion of Boston, too
that has been misrepresented as SO fright
fully skinned and scalped" by the ''boody
lnjins' of Vermont, that the city had mo
further use" for Vermont, regarding her rs
so little consequence as railroad thorough
fare that it might just rs well be walled
out from the rest Of the world to the great
personal delectation aud benefit of "all
outsiders. But Philip angry and Philip
in sober earnest are different people alto
gether, so it is only fair to accept the SEN
slbe view of the 2rapeller as sincerely
meant, especially in view of the pleasant
contrast 1t makes that well-known tail to
its kite that is still engaged in the ludicrous
task of trying 10 fly without the kite, for
getting that when the kite cuts loose, the
tail as flyer is not likely to be a sue
cess. 81. ADans AdDvtiser.
The negotiations for the purchase of the
Vermont and Canada road by the Central
Vermont, evidently occasions considerable
distress to the st. Adams MESSENGER. which
in a labored article undertakes to show
what bad bargain it would he for the
Vermont and Canada. The Vermont and
Canada stockholders, however are not like |
~ to quarrel with an arrangement, the first |
rumors of the possibility of which have |
caused an advance of their stock in the |
market. With regard to the various de-
tails of the bargain, we have no opinion. |
The parties concerned can be trusted to |
look out for the interests involved and TO |
fix terms which will be mutually satsfac- |
tory. But an arrangement which shall put
an end to fruitless and exhausting litigation,
consolidate more thoroughly than ever the
roads, and enable the Central to ''get out of |
court and devote itself without such dis
fractions to the development of its bust
ness the payment Of its debts, and the ac-
of the public-is certainly a
consummati0n devoutly to be wished. -
Burlington Free Pres