Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1876-02-16

SETTLEMENT OF TIE RAILROAD l.ITIG\-
Heterogeneous have been made for
Il settlement of the questions in dispute be-
tween the Central Vermont and the Eut-
land Railroads. Last week. til" directors
of the Hutlaad Eailcoal and the un>lrc>
and directors of the Central Vermont Rail
road were in Boston, in consultation over
the causes in dispute Friday night these
matters were referred To special commit
tees from each board. who were in session
until four o'clock Saturday morning, when
terms of settlement were agreed upon
These terms are approved 10y the RESPECT
tive boards, who Will do what they can to
carry them into effect. but they are to b"
submitted for ratification TO meetings Of
Stockholders Of the two corporations. 10 be
held mt Brattlcboro on the 18th of this
month. Under this arrangement. the
Rutland. the Central Vermont. and the
Vermont ana Canada roads VIII run rs on"
line. The monthly payments Of rent 10
the Rutland Company Will be Resumed,
and the earnings OF the three roads being
pooled, its share will be about thirtv->i\
( per cent of the Whole The earnings OF
the three roads, the past year. notwiti-
standing the depression of business. ARE It.
/ 30 ted to have been =. 7UN.U0n. and for tho
preceding wear they were =, 20 0or.
OF the aggregated gross earnings 81 p |
cent = To he set aside n representing tn,
gross earnings of the Rutland road. tina;
portion having been settled upon hv care
tul computation of the relative earnings oi
the roads for several Years past. OF Thu
I thrlV->iN per cont, SrvcnIy-tiVr per cent
will Ice retained by the Central Vermont
Company for operating expenses, and tn,
o;hcr twenty-five per cent pald To the Eut-
land Company a. rent for the Rutland and
Addison Railroad. Tnc Central, however,
guarantee, that said twenty-five per cent 81
to be paid rs rental shall not be less than
80, 900 in any Year such guarantee being
to protect the Rutland from loss bN reason
| of any mi>manaTcmcnt and also aTaln~t
the dmn;nutl0n of the earnings 10y reason
of the managers livcrtin~ the business.
The roads named being ali run ~ one line
under this arrangement will greatly sim
Dlfv the operation of them and Iccrca>,
operating expenses. The Central Vermont
is also to pay the Rutland Company about
SlS5 900 in settlement of its claims tnl
back rent. This is Il concession of more
than 200, 900 from the sum claimed by tn,
Rutland for back rent in tie recent LEGAL
proceedings, such claim being based n tn,
provisions of the old lease. The contrac
of lease of the Rutland road has fiji &c,
wears to run, and the rental guaranteed by
this agreement (S25o.0oo pcr annnm
would amount in that time to some : 1000.
900 less than the amount called for by thu
original lease, which arranged the amour
Of rent on an increasing scale from year t
year. The Central Corporation has par
chased the stock held by the Page party,
so-callcd, and Governor Page anil his rs
} soci;ltes will hereafter have no Voice in til
management.
1t is believed that the basis of this Set
Element is Il t;,ir one, and that the NJ
ranwcmpnt will be of advantage to bot
, roads and tn pub lie for It's immediate ci
, feet will be the t termination of the lively
or fifteen lawsuits now pending hctwcc
these corporations, rs the questions involv
; ed in them will no longer he of practices
importance