St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1879-01-03

and have required considerable expen-
diture to keep them in repair. Ihey
have been compelled to purchase two
new locomotives and two passenger
cars. and there is needed three more To-
comotives, four passenger cars and one
hundred and fifty freight cars in add
ton. The road requires additional
ballasting. There is imperative need
of five miles of new iron, and the re-
rolling of ten miles of the iron now IN
use.
In making the purchase OF the en-
gines and cars, and repairing and I'M
proving the road, the receivers have
expended all said earnings and In ad-
ditiOn have incurred a debt of about
$4,000 The following is an estimate
of the needed Improvements
Masonry ana ear'h"orA ~ supply '''''i 1925, 900
Tow bIIostno 25 900
New iron, S SoOOo
Re-rOlling iron, II0'O00
Fencing, a ae'000
Ties, EEo o''O00
One hundred box cars, 5O'OOO
Fifty flat cars, ISo'OO0
Four passenger cars, aaoo'OOoooo
Three locomotives, @''o'o
Increased wharfage, station houses, engine
HOUSES nj, ,sSicb ot tn hUiIJ Them $1,000
They further set forth that the rail-
road is indebted to various persons for
services rendered and supplies furnish
ed before the road came into the hands
of the receivers, and that they have an
euuita BILE lien on the road and its per-
sonal property.
The receivers pray the Court to or
der and direct that 100000 may be
raised and obtained by them in such
manner, for such time and rate OF IN
terest, and under such provisions as to
the securing and paying the same as
shall to the Court seem meet.
The opponents to the granting of the
petition ale the bOndhOlders of the
road, who object to raising any more
money on the credit of the road and
lessening their security. The bond
holders are of three different classes.
First, the holders of bonds to the
amount of about 81 $3.50, 900, who after
ward agreed that what was called the
preference bonds" might take the
preference of theirs to the amount OF
S500,000. Second, the holders of these
preference bonds, and third, the holders
of about S440,000 of the first mortgage
bonds, who refused to give place to the
preference bonds" SO that the bond
ed debt amounts in all to S2,oOO,OOO,
besides accumulated interests.
From the statement in the petition 1t
would appear that not only is the road
not paying any interest on these bonds,
but it is becoming more indebted.
Among the principal bondholders are
the following, viz: Z. s. Il. FaiI banks
g. Co., Mercantile Trust Co. of New
York, First National Bank of st. Johns
bury, James r. Nichols of Haverhill,
Mass, Bradley Barlow of st. Adams,
National Bank of the Republic of Phil
adelphia, Isaac c. Price of Philadelphia.
Trustees of Amherst College, holders
of the First Mortgage Bonds, Portland
Il Ogdensburg Railroad, holders of
Second Mortgage Bonds, Portland Rol-
ling Mills and George II. Davis of Port
land, holders of preference Mortgage
Bonds. Among the other creditors are
George E. Howe of st. Jolnsbury, and
Capen, Sprague & Co.
COL. A. b. JEwETT,
one of the Receivers and Superinten-
dent of the road, was called to the
stand and sworn. Col. Jewett testified
as follows:
We received the road Oct IA, 1877.
Forty miles were down from Swanton,
and was scarcely open; IL miles had
NO ballast, the balance was imperfectly
ballasted there were no depUts; indi-
viduals held them until they were paid
for. There was no fencing on this por-
ton. In fact, this portion was built as
cheaply rs possible; the rails were
down on slabs. From West Concord
to Hyde Park had been run five or six
years, and to extend it everything was
taken from it which could be taken
the ties were decayed. There was no
freight depot at MOrrisville no fit
freight and passenger depot ut Hard !
wick. The road bed was i'm very bad |
condition the bed was narrow the fills |
are not filled yet. There were some 30 |
wood structures left untitled, and still |
remain So, and are now in unsafe condi- |
tion, and some require immediate at
tention. Have been putting in timbers
the road can't be safely run without
something is done. These timbers have |
been there about seven years. The |
filling to supply the place of these tenn
porary trestles has never been done. |
The number of yards of earth necessary
to fill them is 663,74 cubic yards; the
amount of culvert masonry, 1921 cubic |
yards; number of yards of paving.
4Ol5; will also he required some wood |
structures for road crossings. NV own |
estimate for the average cost of make |
earth fills about 20 cents per ward !
some can be done for IL cents, but 20
cents will be the average. Average cost
of culveIt masonry, about "a per yard. |
The more difficult masonry is left to be |
done. Paving, about $3.50 per yard
in addition bridge masonry, 545I cubic
yards. This will cost 81 per cubic
yard. The ties upon the road between
Hyde Park and West Concord can't be |
used much longer, and must be replace
ed soon. We have replaced $4,000 of
them this summer. They have been
down most eight years. At least I00,-
OOO ties will be required to be put down
next spring. These ties are for between
Hyde Park and West Concord. Between
Highgate and Swanton will require |
about 1000 new ties in early spring.
They must be replaced so soon as the |
frost leaves the ground. Most of the |
ties now used are hemlock and are
worth 20 cents each 900 ties should |
be of cedar, and these are worth 25 or |
% cents each. The ties between HYDE
Park and Highgate should some of them
be replaced. The present condition of
the ballasting of the road is Insufficient.
The road should have at least 1000
yards to the mile on the whole line.
The western end for some forty miles
is nearly equal to that on the other por-
ton. From st. Johnsbury to the Con-
necticut river, % miles, the ballast is
Some of our present iron