Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1880-03-05

extreme caution Of capitalists TO invest their
money in aid Of railroads, especially when
not fully completed, beirg well known fact,
it will not seem strange TO you that the agree
ment referred to was not carried out. Iron
at this point began rapidly to advance and
under the excuse furnished them by the enc
mics of our road, the parties, under the false
plea that Interpretations had been made
to them by Harris Bros & Co., declined to
fill the contract this sadly disarranged all
plans made. The contractors put forth every
effort in their power to have the contract for
the iron fulfilled offering quite an advance
over the contract price, and to pay the cash
as fast as rails were made, but all in vain.
Every week saw rapid and almost unprece-
dented advances in iron until the price
reached was nearly double the price at which
it was contracted for, the advance alone
amounting to over $50, 600. The bonds of
the road which Messrs. Harris Bros. & Co.
had depended upon in great measure to ena-
bic them to buy the iron, had, by no
fault Of theirs, become so deprecated by at
tacks upon the road, that it was found to be
impossible to raise money upon them with
out some additional guaranty. The bond
given by Harris Bros. d Co. to our company,
which when given was ample was not now
enough TO enable the directors to complete
the road even, il it was at once collected, and
in view, of all the circumstances, it was voted
by the directors to propose a lease of the
road to some party who would either guaran-
tee the payment of the interest on the bonds
thus making them at once available, or who
would, in addition to leasing the road, take the
bonds and complete the work.
MONEY BECEIvED-cosT OF THE ROAD THUS PAR
AND EXPENDITURES.
There has been received upon the stock
subscription (the bona .fde total amount of
which subscription is $500, 400 the sum of
$1s7149.3s.
Cash payments have been as follows:
To Messrs. Harris Bros & Co. on
account of their contract $50. OGO %
For construction account out
side Harris Bros. contract 712.4G
For land damage 14,OO727
For engineering 1l.7s21G
For lumber and supplies, incud-
ing ties paid for by Co. 3,SI4G9
| For fencing and fence material 46l ca
| For part of cost of car house at
bra'tIeooro 10000
Legal expenses and general ex-
penses, including all other
expense beside the foregoing
from the commencement Of
the work 5,2G5. Al
oash anu cash items Jan. ~ 1910
s,.--,no1
r,hi. .....,,,.,,,; :. 800. -, i'',"'
rerort ~ Tho ord;,ors ,vho hovo no.,,',,I.
orn;nod oil ,,or,ars an5 ,h;.h .t..a,,,.!:'.
-. ,iod - ~
M ,,.l. ,,a,.,.,.,,.- ~. l.. II,
1t. -. -, m, -'-O'''
NE .....-;,.-- -, a. - -
a. -o- "a 81 49, 49, 1.1,1,.- =. -. "
- ~ ISlU" " a w. 9"'' ~ ~. %
David Hail a aS.'' s
! H. w. Stone 800 90
Butler a Casey 1l,OO9. 1G
aver 20. $4,000
~ n.I e, ill.,. l"'"VVVO
/ formed INV tbsmsoIyos o. 900 "a
! Eauipmept. buildings. ties.
spikes, etc 20, 4G7. 10
Expense account oil Harris BROS. ), 5000
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Aeo' We nie siru " "uuoui'e " you 'n"' III
ao'o' S'A'i'e ~''H 'io'i ''O-is anu po".i 'on-
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u''e''o's' tue! na'e CoHSuuiiiia'eu an Asieo-
mem WIZ 'ue Ne" -IOnuoI Noi'nein i'Aii-
roou OoupAn ~ winch SSiu company agree