The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-02-15
THE CENTRAL AND RUTLAND RAILWAY
LITIGATIONS ENDED.
Tho Basis of Settlement.


Special dispatches from st. Adams to
the Boston papers say The termination
of the Rutland and Central Vermont rail
road war, which was ended by agreement
| and compromise in Boston Saturday, is
contamination hailed with joy throughout
this state. The terms of the compromise
briefly are as follows The Central Yer
mont company will pay the Rutland COM
pany about $1S5,000 in settlement of its
claim for more than $500, 900 under the
lease which the Central claims was exc
cuted upon the strength of false represen-
tations on the part of the Rutland folks,
and fixed the rent at an exorbitant figure.
The Vermont Central, Vermont and Cana
da. Rutland and Addison roads are to be
run as one line, and the gross earnings ag
gregated OF the gross earnings 80 per
cent. will be set aside as the proportion OF
the Rutland and Addison roads, and 20 per
cent. of that paid TO the Rutland rs rent
for these roads, the other rs per cent. being
retained by the Central for operating ex-
penses provided, however, that said rs
per cent shall not be less than $3.50. 900 a
year. The original lease, which has fifteen
years to run, fixed the rate on an ascending
scale, and would call for about 81 900 600
more in the fifteen years than the minimum
of $3.50 900 per annum fixed by this agree
ment will amount TO. The Central com
| pany purchases all the shares of it's stock
held by Governor Page and his friends, tut
probably, in fact, owned by the Rutland
company, and they will have no further
voice in the management or interest be-
yond the payment of the rent The ar
iangement is generally regarded as n wise
and equitable one. and will doubtless he
| fully ratified by the stockholders of both
companies.
We understand, from trustworthy
sources, that the above account, although
perhaps substantially, is not entire.
ly correct. We make few cor
rections and additions. The b. OK
rents of the Rutland railroad up 10 Fcbru-
airy /, 1875 are to be paid in full, or nearly
February 1, of the present year is to be
paid at the sum of $2500O0. The rent
hereafter is TO be ascertaned by "pooling"
| the gross earnings of the roads, thirty-six
anu uuulte pti Ceut VI luIs dIlouHJ "
he regarded as the earnings of the Rutland
and twenty-five per cent thereof to be paid
as rent. but said rent is to be not less than
$3.50, 900 year and may be much higher.
The stock of Page, Barlow. Brooks and
Edwards in the Central Vermont is 10 be
purchased of them at par us of February
I, 1915 and eight per cent. interest paid
thereon until payment is made. The
Central Vermont abandon its charge of
fraud in the making of the Rutland lease,
release all its claim ON account of ballast
ing. stock, ETC., of the Addison road, and,
also, release any claim that it may have of
Page or the Rutland road on account of
the lease Of the Valley railroad. The set
Element is made. as of February /, 1875,
but before it becomes operative it must be
ratified by the stockholders of the Rutland
and Central Vermont railroad companies,
and meetings have been called for that
purpose at Bellows Falls, February %. 1t
is understood that Messrs. Barlow, Ed
wards and b. b. Smalley will remain in
the Central Vermont direction until the
whole matter is finally settled.