Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1883-08-20
BRADLEY BARLOW'S MIS-
FORTUNE

OOAAA~ -
the Southeastern railway of Canada,
whose manager and chief owner had
suddenly deceased. Mr.. Barlow
was president of the Vermont Nation
al bank at st. Adams, the owner of
considerable more than half its stock,
was ex-president of the Vermont and
Canada railroad company, had retired
from Barlow, Sanderson & Company's
overland stage, and express business,
which for nearly twenty years had
done an enormous business in the
west, was owner of a great deal of
valuable real estate, among which
was the Brandon marble quarry, was
a public man of large influence, a
legislator of ability and had just
been chosen to Congress. The
Southeastern was new road, com
bined of two or three, and formed,
a system in the fertile region between
the St. Lawrence at Montreal and
Sorel and Lake Memphremagog at
the northern terminus of the Pas
sumpsic road. The railway was in
a bad condition, financially and me-
chanically. Mr.. Barlow went
through it with that thoroughness
characteristic of his whole life and in
three years made of it first-class
road and secured for it position
that is practically key to the pros
perity of one of two great rival lines
in Canaba-the Canadian Pacific or
the Grand Trunk.
To do all this single handed and
without selling any bonds necessita-
ted his borrowing large sums. The
Canadian Pacific was willing to ac-
commodate him if he would give
them an option to buy his road with
in two years. He assented and
went on with the improvements. He
used all his own money, all that his
bank could spare, all that he could
borrow and all that the syndicate
were willing to advance, not doubt
ING that the investment was good,
would pay, and would realize two to
one on sale.
But there came a time when his pa
per must be met. The syndicate re-
fused any more advances. He asked
| to be released from the contract. Civ
ing them an option to buy the road,
and they met his request with new
negotiations as to price. Finally.
seeing an opportunity to drive 6
hard bargain, they tried it. In or.
der to avoid failure and save all his
| friends from loss, Mr.. Barlow offer
ed terms which involved nothing les:
than the sacrifice of his private for
tune, but even these were rejected
although the syndicate wanted hi
road, and knew it was cheap at his
highest price. He had no alternative
but failure, This, of course, CLOSED
his bank, and for prudential reason
the st. Adams Trust company
whose president and heaviest stock
holder, Lawrence Brainerd, was al
indorser for Mr.. Barlow, was ais
shut down, pending the ascertain
ment of Mr.. Barlow's and the bank
liabilities and assets. This cause
great excitement and anxiety in 81
Adams, and has given opportunlt
for certain personal enemies to il
dulge good deal of unkind common
The general judgment of the press
however, has been considerate.
Mr.. Barlow took too great a ris
for himself, his friends and his banl
he did it in a legitimate enterprise, Q
a basis of property far exceeding
in actual value, and for which +,
g sponslble purchaser seemed to hay
been already secured. When con
PEELED, through the treachery (
those men, to fail, both he and M
Brainerd Immediately surrendered 6
their property for the protection
the creditors of their banks. Th
+ is what no man who has failed in S
I Adams has been known to do befo
for the last twenty years. At Il
r same time Mr.. Barlow began imm
: diately to exert himself to find ne
: purchaser for his road, and at t
f present writing the indications a
t that he has succeeded, or is about
S succeed, and on terms which will e
n able him to snatch victory from d
s feat and enable the buyers to dicta
h to those who sought to fatten on |
!, blood.
: The Grand Trunk and Central VI
d mont could well afford, if they we
: in condition for buying, to pay Fl
|, value for the Southeastern, in orc
;. to convert a rival into tributal
II But otherwise they do not need
l. property. The Canadian Pacific 9
l. solutely needs it for an outlet
l. Boston and Portland, and the P;
y sumpsIc needs it for connection W
l. Montreal. Its local business me
d than pays its running expenses.
m connection with the Canadian Paci
tie it will become feeder to the co
to merce of Boston such as this C
9d could not afford to lose for mlllio
i 1t is not for the interest of Bost
It, that the road should fall into
le hands of the Grand Trunk, or of
New York syndicate which will div
e. its traffic to that port. Boston
en- snndino untold millions to MeXi