Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1883-09-03
THE BARLOW FAILURES.

From the following sources we
gather the latest reports relative to
the Southeastern r R. and ST. Adams
banks:
We learn on excellent authority
that the parties, who have recently
been examining the Southeastern
railroad with reference to its pur-
chase on the terms offered by Mr..
Barlow, have given formal notice
through their agent, Mr.. Chapman,
that they have decided to buy it
substantially at the price originally
named. This sale of the Southeast
ern, when completed, will place the
Vermont National bank on its feet
and wipe out Mr.. Barlow's debts al
most entirely, we understand. The
Trust company would then recover
its loan of $50, 900 and its cash de-
post of $4,000. Among the painful
cases of persons distressed by the
broken condition of the Trust COM
pany is a poor woman, who with
tears in her eyes, said she had two
hundred dollars on deposit, which
she and her children had earned
picking berries, and had counted upon
it TO keep them through the winter.
The receiver, Mr.. Charles w. Rich
of Swanton, is an excellent appoint
ment; he is a careful, sagacious, en-
ergetic man of business, well ac-
quainted with the value of the great
lumber property, which is so large q
debtor to the Trust company.-Rut-
land Herald.
The st. Adams correspondent OF
the Boston Journal visited Bradley
Barlow Saturday, with view of as
certaining the status Of the negotia-
tons which have been in progress
for the sale of the Southeastern rail
way to the Chapman syndicate. Mr.
Barlow stated that the report made
by Mr.. Chapman to the Ney jersey
syndicate of the condition of the
Southeastern was very favorably re
ceived, and that the syndicate decid
ed to purchase the road at a sun
sufficient to pay the total indebted
ness of the road, about 100000
providing satisfactory arrangement
could be made with the creditors o
the Southeastern. A contract ha
been signed by Mr.. Barlow and tn
capitalists represented In the syndi
cate wherein Mr.. Barlow agrees t
transfer his interest and relinquis
; his right in the Southeastern for
specific amount and the syndicat
agrees to purchase conditioned on it
being able to effect arrangements fC
buying up the claims which variou
parties have against the road. I'll
attitude which the Canadian Pacif
railway company assumes regardin
its claim of nearly 81 500, 900 again
the Southeastern will determine IL
matter of the proposed sale. M
Barlow said that the Canadian Pacif
syndicate will accept the proffer
the money to satisfy their claim al
will not stand in the way of the pu
~ chase by the Chapman syndicat
!, He stated that neither the Cent?
e Vermont, Grand Trunk or Canadi;
9 Pacific railways are in any way co
:, nected or associated with the Cha
IN man syndicate IN the proposed pu
70 chase of the Southeastern. N
70 Barlow said it was true that negoti
r. tions were in progress between t
ht Canadian Pacific railway compa
on and Ex-Governor Horace Fairban
h and others representing the interes
nd of the st. Johnsbury and Lake Cha
GO plain railroad for the permane
or lease or purchase of the latter roa
;; and the formation of line
:, Rouse's Point, Swanton and
Johnsbury to Portland and Boste
ws The possibility of such an outlet |
ing found to New England for t