Morning journal and courier., 1892-12-14
svMpoRrANr RAILROAD DEAL.

RAILROAD DEAL.
gain the Consolidated Road Ac-
oufres New Possessions-Obta
control by Lease OF the Connecticut
River, Vermont Valley and Sullivan
Roads-Further Increases Its MILE
ageby124 Miles-An Important New
Tributary Gained. -
The Consolidated railroad yesterday in
reased It's mileage 1874 miles, making the
otal mileage of the road 974 miles. Thig
Was by the sdditionsof the Connecticut
River. Vermont Valley and the Sullivan
railroadsg The Connecticut River railroad |
runs from Springfield, Mass, to Keene. N.
H., seventy four miles. The Vermont
Valley runs from Brattleboro, VT, to
Windsor, fifty miles. This practically in
sures the Consolidated road all traffic,
both freight and passenger, from the
center of Vermont, lower Canada and
northern Vermont. The deal was only
talked of about ten days ago and yester-
day the directors of the road went to
Springfield and yesterday noon the deal
was made. It eventually means the alb
sorbing of all the roads. President Clark
speaks as follows concerning the deal:
for many years, indeed ever since 1t was
built, operated by it's owners In perfect
harmony with the New York, New Haven
and Hartford railroad, and It's predecessor,
the Hartford and New Haven railroad.
It's line ia an extension of the Hartford
division of the Consolidated road, or vice
versa, and the two have mutual interests
and always have had. It has been pru-
IDENTIFY and honestly managed. and has
about 81, SOC. 900 of.stock, no funded debt
and an excess of assets over Its floating
obligations. It has paid per cent. divi-
dends, and has been constantly
adding to Its plant and equipments from
It's surplus earnings, and ia Just as respect
solidated road may be considered.
So when the owners suggested to some of
our directors tnat lease upon the basis of
paying the Connecticut River stockholders
the came dividends that we pay our own
l our board thought 1t wise to authorize the
lease, and it has been made. There Ia
| nothing in the matter in any way of which
the people can on any account complain.
I presume matters will go on without any
startling changes. We shall try to furnish
the customers of the road when 1t becomes
the northern division of our own, quite 81
good service and at as favorable rates Of
they have received from it as the Con
nectieut River railroad. As to com.
petition there has been none since the
Consolidated leased the Canal road. Both
companies have maintained the same tar
ifs, and practically the Consolidated ha,
taken the travel to and from New Yorl
from connecting points north of Spring
field through that city, instead of from
Westfeld, because 1t could better afford t.
do it on frst-class trains in connection
with the large volume of other business
than to run an express over the Cana
road. 1t has proved a convenience to thu
public and an advantage to the Consoli
dated, although it gave up the line nortl
of it's Springfield terminus. Now it vii
have the earnings to destination as tn,
lessee of the Connecticut River road.
SPRINGFIELD, Mass, Dec. >13.-The di
rectors Of the Connecticut River road to
day voted unanimously, subject to rsti6
cation by the stockholders, to lease thei
railroad to the New York, New Havel
and Hartford Railroad company on term
which place the stock of the Connection
River Railroad company on the same basi
J as the stock of the New York, New Havel
and Hartford railroad. Thelatter compan
has been given possession of the lease
property and begins operating it inmedi
ately. For the present no changes in tn
, official organization will be made. J. A
Rumill, a director in the Connection
River road, who was largely instruments
in carrying out the deal, say
that the consolidation ia only i
line with the tendency of sma
railroads to become parts of systems ]
/, was a question whether the Connection
River railroad would go into the hands G
the Boston and Albany or the New Yor
| | and New Haven. As the two latter al
friendly, the Boston and Albany |
satisfied. He expects the change wi
benefit the cities and towns O
the Connecticut River railroad. Nor
satisfactory service can be secured for th
White Mountain trains and there will b
harmony and probably union depots 6
Holyoke and Northampton, where tn
Consolidated railroad has terminal stations
President Mulligan of the Connecticr
/ River says that he has expected som,
thing of this sort, as protection sgainl
b the Boston and Maine lines buying up
controlling interest. He thinks the Co,
8 | necticut River road stockholders will I
!. glad to exchange shares paying per cen
for those paying 10 per cent.