Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1896-05-09
Central Vermont Receivers Give Notice.


Pursuant to an order of the United
States circuit court for the district of Yer
mont, the undersigned receivers of the
Central Vermont railroad, will deliver pc
session of the Rutland railroad to the Rut-
land railroad company, at midnight on the
9TH day OF May, 1896. Connecting roads
will please take notice, and report as here
tofore to the proper officials Of the receiv-
ers, all business to and from the Rutland
railroad, accruing to and including the 9TH
inst. only. All business delivered to the
Rutland railroad after the 9TH inst, should
be reported as directed by the Rutland
railroad company. All officers and en-
ployes on the Rutland division will report
to the Rutland railroad company after that
date.n
The Burlington News has the following
speculation regarding the ultimate fate Of
the road:
But it would not be matter for great sur
prise if the entire Central system were to
ultimately come into the control Of the
Boston and Maine. The time is not far
distant, the best informed railroad people
say, when there will be only three railroad
systems in New England-the Boston and
Maine, the Boston and Albany and the
Consolidated and it would not be sur
prising if the Boston and Albany were to
be absorbed by one Of its big rivals, leav-
ing the whole New England field in pos
session of two gigantic railroad systems.
Judge Powers, when in town the other
day, said that it would be the best thing
that could happen for all the interests in
volved and for the people of Vermont, if
| the Central Vermont system were to pass
into control of the Boston and Maine. Ger
tainly, it would be far better for Vermont
than TOR the Grand Trunk to gobble the
outfit. The Boston and Maine people are
Yankees, who know the desires and needs
of Yankeedom; and their management
would be far more liberal, up-to-date and
in every way more satisfactory than that of
the Grand Trunk.
There is but little doubt that the Cen
trail system will sooner or later come into
the control of one Of these big corpora
tons; let us hope it will be the Boston and
Maine.
At the hearing in Brattleboro Tuesday
the Central Vermont submitted figures
showing that the losses on the Rutland
lease for the last five years were as follows
In 1891, $31, 1854 70; in 1892, $92, 532 80 ;
in 1898, $136, sol 60; in 1894, $3.50, 224.-
81 in 1895, $6,950.73.
Speaking of the new order of things the
Rutland Herald of Wednesday said
The order in the matter of the Rutland
railroad company's petition was perfected
to-day and provides that the action of the
Central Vermont receivers in refusing to
adopt the lease is ratified; that they sur
render possession of the road and equip
ment May that masters be appointed to
determine the value Of the property re.
turned in comparison with its value when
received at the beginning of the lease, and
also to determine certain questions under
the old lease that another master be ap
pointed to report the facts as to the dam.
ages sustained by the forfeiture of the pres.
ent lease and the amount of unpaid rent
under the old lease. The court ordered
the Clement bank and the Fitchburg rail
road company to pay over the moneys held
by them to the receivers upon condition
that the receivers forthwith pay the Rut,
land company the rent due up to March &c
and set apart the sum of $4,000 which is
to be held subject to the special oder q
the court upon final determination as to
the rent subsequent to March 20. The re-
ceivers are ordered to report the net in.
come arising from the operation of the
leased property between March 20 and its
surrender to the Rutland company. Upor
the coming in of that report the amount O
rent to be paid will be determined, either
upon that report or by further reference tc
a master.
1t is understood to be the purpose O
the Rutland company to thoroughly equiv
its road, that it may afford every comfort
and facility to the travelling public. Tx
rumors to the effect that the management
was about to pass into the hands of thu
Boston and Maine or the Fitchburg roa(
are emphatically denied, but on the con
trary it is affirmed that the road will b.
operated by the Rutland company in thu
belief that there is profit in wise and bus
inesslike management of this system.
Some interesting figures relating to tn
Central Vermont were brought out at til,
hearing before Judge Wheeler at Brattle
boro.
1t stated, among other things, that OIL
January l, 1898, the Central Vermont rail
road made chattel mortgage on its equip
ment to William Seward Webb to secure
its bonds, payable in 10 years from JanuaT,
2, 1898, at 6 per cent interest, payable
semi annually, with provision that $25,
900 of the principal should be paid annu
ally.
OF this principal, $4,000 has been paid
The next installment of interest falls du
July l, 1896; and the next installment O
the principal, to the amount of $4,000
falls due January 1, 1897. The Who'll
amount required for the annual payment
on account of this chattel mortgage
about $4,000.
1t was shown that the amount of unpa
bills for materials and supplies on Marc
3, 1896, which had accrued within ST
months prior to that time, exceeded tn
sum of $250,000. And on the same dat
g the amount due as balances to connecting
roads, as shown by the books of the Cen
q trail Vermont railroad, exceeded 100000
which had accrued within six months
There was due to the Central Vernon
e road as an offset about 100000 whic
!, had accrued during the same period. Tn
S amount of overdue rents to leased roads o
: March 20, 1896, which had accrued with
h six months prior to that time exceede
o $15S,000.
S The amount of the floating debt of th
b Central Vermont read, not including Il
h loan secured by 81. 1000, 900 per cent bont
G of that road to the Grand Trunk railroad
irrespective of the preferred debts offse