The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1897-11-17
The Central Vermont Railroad.

Nothing particularly new has devel-
oped in the Central Vermont railroad
situation during the past week, although
some things have come to the surface
which makes it more than ever improb-
able that the plan of reorganization,
proposed by the first mortgage bond
holders at the meeting held October 5,
in Boston, will ever be carried
through. Hon. b. F. Fifeld, attorney
for the Central Vermont, and Presi-
dent E. G. Smith, have been in Boston
for several days and in answer to ques-
tions propounded to him by reporter
for one of the Boston papers Mr.. Fifield
is quoted as saying:
"In the proposed guarantee by the Grand
Trunk Of the Central Vermont new mort
gage, the Grand Trunk agrees to make such
interest good out Of the gross earnings OF the
Grand Trunk derivable from business Gin
terchanged" between the two companies to
the extent Of 80 per cent OF such gross earn
ings. II there is no business interchanged
then Of course the Grand Trunk is not re-
sponsible. The business interchanged is
substantially eastbound business. The
Grand Trunk can send its business east
bound by way Of Portland into Boston and
eastern Massachusetts, because it owns a
line direct from Chicago to Portland. 1t
can also send business from the Canada
line over the Boston and Maine and get the
same rates as over the Central Vermont.
The Grand Trunk owns line from Chicago
to Niagara Falls and can send its business
that way into New England. Thus II the
Central Vermont does not turn out a favor
able proposition it has it in its own control
to have no business interchanged between
the Grand Trunk and the Central Vermont,
in which case Of course its guarantee Is Of
no value. While 1t may be true that the
Central Vermont could not be successfully
reorganized on an Independent basis 1t does
not become necessary that the road should
tie up with the Grand Trunk. The Odgens-
burg and Lake Champlain road is the ma
reorganization along such lines could be
made very successful. The Central Yer
mont could have the benefit of two through
lines to Chicago in connection with the o.
q L. c., one by the Rome, Watertown &
Ogdensburg In connection with the Lake
Shore or Michigan Central and the other by
the Ogdensburg & Lake Champlain to
Ogdensburg, N. Y. and thence by water to
Chicago by the Northern Transit company.
In the summer time the Central Vermont
gets as much business from the Ogdensburg
& Lake Champlain as from the Grand
Trunk, and the distance from Chicago is
about the same by both roads. The Central
Vermont is in splendid physical condition.
notwithstanding reports to the contrary.
Considerable money has been put into the
property. Within the last three years new
75-pound steel rails have been put into the
road for its entire length, width the excep-
ton Of about twenty miles. Wooden bridges
are now being replaced with iron ones. Its
passenger equipment is one of the best in
New England. The Central Vermont road
cannot be recognized along the present
lines unless all interests are brought in, and
the point is, can they bring them in. The
great individual interests in the road have
not been provided for in the plan, and the
reorganization committee will have diff
Guilty in getting decree.'