Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1875-11-19
For the Free Press ami Times
Before the Masters.

In his argument for the opposition, one Of
the counsel admitted that no money had
been taken from the trust without giving
cred; for it on the books. Another Of the
opposing counsel. after speaking for two
days in general philippe against the
courts. the managers. and almost every
body else. finally said THAT the Supreme
C0ur; had always decided the railroad
cases in accordance with the Law Many
OF the quiet citizens of Vermont wish to
express their relief at finding that the
purity of our courts as well a. the honesty
Of the managers books. is now admitted BY
the eminent counsel. The legislative COM
mttee spent long time upon the same
subject and no irregularities appearing, it
was then claimed that Court OF Chancery
with all its powers OF search and research,
would disclose some tremendous things.
- the Chancery hearing was instituted and
after more than two years for preparation
there has been a trial OF several weeks be-
tore the masters at St. Adams, and the
books which show an accounting of over
forty eight million of dollars, all balanced
tn a cent. have been opened and have stood
the test. After all the hue and cry that
has been raised, the high sounding accuse
tons that have deluged the public prints.
We are glad TO ind one spot Of solid ground
On which the sole os the foot may rest .
namely, that the opposition now admit
the purity of the courts. and that the man
ayers have accounted for all the money they
have received. Now we have a starting
point The burden of the discussion seem
ed to be in regard to the wisdom Of certain
measurers, as for instance the 0gdensburg
and Missisquoi leases. Blu; it appears that
in 1864 there was decree which provided
means whereby the owners of the road
could have a voice in the management
The directors of the Vermont and Canada
railroad had the power TO act with the
trustees. aud the bondholders were to
choose q committee for the same purpose.
30 that, from that time until 1873, these
three sets of men namely, the Vermont
and canada directors, the omwittee OF the
bondho!ders, and Governor Smith and his
associate trustees, were joined together in
the management of the line now called the
Central Vermont Railroad Moreover, the
committee Of bondholders were also consti-
tuted auditors to examine the accounts Of
the receivers every year 1t appeared
that every single disbursement came under
their inspection. Ii also appeared by the
evidence that no important action was
taken without the consent OF the Vermont
and Canada directors, and the committee
OF the bondholders If then, the owners of
the railroad managed it themselves in their
own way. 1t would hardly seem right to
take all the losses and effects of the hard
times and change it over W the receivers.
Thus the managers claimed that they had
taken no important step without consult-
ing the owners But the opposition insist
ed that there we're the holders OF t,uo of the
bonds that had not had any voice in choos-
ing the committee. and therefore we're not
bound by their action Two bonds amount
Jog to only So 900, when there were IS, 5OG.-
900 worth in all Here seems to be some
thing a little mysterious Would the own
ers OF these two bonds o; little value incur
such enormous expense in litigation, or Is
there somebody back of all this that. for
personal malice or some private enc, is TAX
ing this way to injure Governor Smith and
his associates in the trust? q.