Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1876-01-07

| AASds Va CuofEc1.
Inc petition also states that this con-
tract provided, a. one of the conditions
upon which my client was induced TO
enter into it, and without which II
should not take effect, that these gentle
men on the other side, being and pro-
iessiHg to be, In some sense and In some
way, amcnable to the summary control
OF this court-whether We call them re-
celvers, o. managers, or trustees, Is of
no account Whatever, we are for sub
stance and not for nsme-thst this court
should be applied 10, and that the par
Ties applying to it, should obtain from
thls court ratification and confirmation
OF the arrangement, in order that there
might be an additional and, If possible,
q still more solemn and certain security
Tor the transfer of this property and the
important rights which should be Sc
cured TO US under this arrangement. In
pursuance OF that, these gentlemen did
present to this court their petition in
which they set forth, after the prelimi
nary statement of their condition, that
they are trustees and managers of the
Vermont Central and Vermont and Can
ada railroads, acting as such under the
direction and orders of the court in the
above entitled cause; that they entered
into this contract on the 90th day of De-
cember, 1870; land your petitioners
further represent that, In their iudg-
ment, the contract aforesaid will prove
exceedingly beneficial to the trust prop.
erty under their management, and that
increased and enlarged facilities will be
Offered 10 the public by facilitating the
connections between the roads afore-
said Not that il has been represented
to them by some person protesting to be
suthOr zed by the Rutland corporation
TO do so, that the gross earnings of that
road for a certain year preceding had
been sum of dollars, aud therefore
they wanted it-not that the net earn
ings had been IS per cent. of its gross,
and therefore they wanted 1t. They
well knew, if it please your honor, that
that would be poor ground for trus-
tees, managers snd receivers, to ask TO
sally forth and gather up railways and
conduct all manner of business trans
actiOns-not ST all-but that this con.
tract would be exceedingly beneficial
because Of the increased and enlarged
benefits which will be conferred UPON
the public by facilitating the connec-
lions of the roads.
Now it appears from the order that
''the foregoing petition having been duly
filed and presented 70 me. and ii appear
ing that the board of directors of the
Vermont Central railroad company and
the Vermont and Canada railroad com
pany, and the committee of the first
and second mortgage bondholders,
appointed 10 represent their interest
under and by virtue Of the decree Of the
18Th of January, 1854, and DEGREES sup
plemetsry and smendatory thereof, have
respectively approved the contract.
And il further appearing to the court"
[ How appearing, may il please your hon
or! from your Judicial knowledge and
cognisance, as you sre supposed TO know
what the law is upon every subject fall
ing within the scope of the jurisdiction
of your court? Not at all. Appearing
10 you in your capacity as one of the
citizens of the State of Vermont? BY
no means. But appearing in q general
sense, that Is, upon proofs and the rep
reservations OF the parties who proposed /
10 demand your action and continuation.
W st appearing: Appearing TO the
court that a jOiHt management of The
roads under the control OF ssid trus-
tees and managers, with the Rutland
railroad and railroads now under their
control is necessary in order TO a judi |
ciOus and economical management of !
sal said roads; that such joint manage |
ment will reduce expenses, facilitate con- I
nectiOns and otherwise promote the in |
tsTests of the public, and to this end il /
appearing that said contract Is fair 1
and equitable one. and that the same (
will be beneficial II the trust prope rty 4
under the control and management Of (
the trustees and managers Of the Yer /
mont Central and Vermont & Canada rail /
roads, II Is ordered and decreed that the /
action Of said trustees and managers in I
entering into said contract is hereby sp- |
proved, ratified and confirmed. They .
are hereby directed TO 60 on aud execute !
the same according to the terms of said
contract the liabilities incurred by /
said trustees and managers being, and
the same Is hereby declared to be
charge upon the trust property and the
earnings thereof, under the management
OF said trustees and managers.
Done in court this 9Th day Of January,
1871"
Signed by the chancellor and certified
by the solicitor in the regular form of
decree
Your honor viii preceive, therefore,
thst this contract became valid and Vi
tai not upon the representation 20 you
that the earnings Of the Rutland road
had been q million of dollars in partic-
ular year, not upon the representation 20
81.
per cent. In some year, not upon shy
Of anybody Al al! as 10
the condition OF that property, but upon
the truthful representation 10 You as the
real groundwork of this arrangement tia
the control of that road in connection
with the one which your servants, as
they call themselves, were to admislster,
would be advantageous upon public
grounds and especially to their
trust upon private ones-Oecause
The Joint Management would give
these gentlemen the monopoly If the
business in competition, the control Of !
Everything that the farmer and mer-
chant had TO send ST their own price,
either from the great West OF from our |
valley. Now, SIR, let me say tina; il
any fraud has been committed in this I
business ii has been committed by these
Gentlemen, now defendants, been com
niited upon you, if they entered into
his contract or deed upon the substan- :
ial grounds that they wanted to get !
,reater net earnings than had been OBJ d
aimed before, and upon the ground that q
Is gross receipts had been so and SO, t
while they went 10 you upon the ground t
hat the Joint connection and control a
vas that which they were after and J
hat which they asked your approval
f. 5
Il is a singular aspect in court Of 1
ustice, for this never had any place T
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