Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1877-10-31
Judge Rarrett,s Decision.

ti''eu Inc vermont canada Railroad rs, The
vermont Central Railroad Company ct al, upon
peutlon Tor the sale Of the roads, for the pur-
pose Oh forming company to operate the same
without the Intervention OF receivers and the
Court OF Chancery, attracted a large audience in
the court room. Among the more distinguished
OF those present we noticed ex-Governors Smith,
rage and Peck, Judge Poland, Y, A. Brooks Of
boston, H. J. Phelps and J. W. Hickok OF Bur
lington, Colonies Walker and Veazey, and Judge
trout OF Rutland George Nichols OF Northfied
q. N. Davenport Of Brattleboro, w II. II. Bling
ham OF Stowe, j. L. Edwards OF Newport, and
many others.
The court came in Mt seven o'clock, and Judge
Barrett opened promptly. lie was in good voice,
and every word Of his opuion--the delivery Of
which occupied two hours and half-was dis
tinctly heard by the audience.
lie commenced by stating that the opinion he
was about to read had been arrived at, after the
fullest consideration, by the entire bench, and
embodied their conviction as to the law governing
the case under consideration.
Since January, 1861, the Vermont Central and
Vermont Canada roads have been in the hands
OF receivers This is the first time since then
that these roads, or any Of their matters, have
been before any other tribunal than the Court Of
Chancery for Franklin county, or any Judge, ex-
cept as chancellor. The records Of this court have
always been open for inspection, and the fullest
information as to what judicial action had been
taken with reference to them was easily accessi-
bic to airy who desired IT,
Tue petition asks for the sale OF both roads,
ana their equipments There are large debts due
from these roads ana they constitute lien upon
the property, and the petition recites that their
SAFE Is proper way to raise the money to relieve
tnem from embarrassment, and take the case out
OF court Inc petition Is opposed by various
P"i''es III in'eres', ana ior various reasons
'"use parie'. 'hen proceeueu 10 say 'ha' III
august iof'' '"e 'ernhon' oentru roau Ieaseu
'he vermont O"naua' Wrth All its rights ana
prlVieges forever that upon this lease the former
was 10 pay 'he STOCKHOLDERS oil the latter net an
hual roh''' vi eeh' per cent upon the COST Oh the
'o"u anu appl'ances' tle ia'.er agreeing never 10
'n'eIicre WIN 'he r'ghts Oh the FORMER WITHOUT
goou cause IN ioooa supplemental arrangement
was entered lhto' ny whlch IN neiault oil rent 10
DC paid 'he oanada stockholders Tor Tour months
aiter IL was que IL was stipulated that It's stock
nouets might Jake ana operate oot' ROADS until
-, -, , -"
reLnqulsn '"e'n'
Inc Oen'ia' subsequently went 'h'o inc lahus
vi ".o uuS'oo' U. ."o n's' ""u 'eoonu 'no''s"se
oo"'"o.uo''' anu !" iooi' "pon Pe''.'o" '''eN
CTS vi '"o io"u "e'e "Ppo'n'eu ny 'ne Oour. Vi
On"'cery ior rr"nhiin COUNTY, WIFI 'ne uhuer-
summing '''' 'neso io0cNeiS ""re " iepoi' at
Se'eu ''eS 70 '''e court anu "ere '""pp'I 'he net
e"in'"Es W '"o "''"'"'"' vi '"o 'e"' ue'''
rin"hy' III ioof' Tue i",ious oo'nproin'se uecree
was ''''ue' upon 'he pe'l'oh VI All 'ne Pir''es III
INTEREST winch ''l'uai'y perpetu"'eu Tue receiver
SNIP ana n'"ue '',e receivers not o'ncers Oh 'he
COURT out nere ous'hess "gehts-"hu unuer WHICH,
WIN various supplemental oeerees ana modihca-
ions the ROAD mas since oeeh run from the
records IL appears that all THESE DEGREES were CON
sehteu 10 oy all parties III interest," ana were
granted upon their petitioh
Inc hrst iai'ure 10 pay rent occurred In june
iS'Z Al TINS ume' by the consent oil all parties
concerned the vermont N canada STOCK had oeen
increased 10 three miiiiohs oil dollars Never un-
I'll Tue laliure 10 pay the interest promptly hau
the Canada ROAD objected 10 any action winch had
been taken by the receivers Inc court not called
upon IN TINS case to review ludcally, acts OF the
management 10 which all had gwen their previous
CONSENT anu endorsement ihese consent de'
crees are proper ana OFTEN necessary, ana IL ap
pears that IN each case not only did they consent
nut actually petitoned Tor such course oil action
~ hau peeh pursued
lie declared that application Tor the SAFE OF inc
roads by petition was correct as to form Judge
barret then reviewed the law oil receivership