The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1897-09-24
STATE NEWS.
Central Vermont Reorganization.


There is reported from Boston a plan
for the reorganization of what we may
call the Central Vermont railroad.
The Central Vermont, as all men may
know, owns no track but is merely an
operating road. Under a former reor.
ganization the old Vermont Central
track from Windsor to Burlington
and the old Vermont and Canada
track from Essex Junction to Rouses
Point are owned by the Consolidated
Railroad of Vermont. The Central
Vermont leased this track and, because
OF default of payment of rent, fore
closure proceedings are pending in
court.
The new reorganization plan has at
the bottom the holders of the Consoli-
dated railroad bonds-the real owners
OF what is known as the main line of
the Central Vermont. The plan is to
form new corporation to take all the
property of the Consolidated road and
the leasehold of the New London and
Northern and make upon it a new
mortgage to secure $10,000,000 4 per
cent gold bonds, to run 81 years from
February l, 1898. There is also to
be second mortgage to secure two is.
sues of adjustment bonds" series
A." amounting to $1,000, 900, and
''series B." amounting to S3,00O,000.
These bonds are to run q years with
interest at per cent and be paid from
the net income of the company.
Holders of first mortgage bonds of
the Consolidated road are to receive IS
per cent of their holdings in the first
mortgage bonds of the new issue and
rest Of the principal in "series A"
bonds, with accrued interest in ''series
B" bonds. The new company is to
hold $1,000, 900 of the first mortgage
bonds in the treasury for improvements.
With this we are told that the
Grand Trunk railway will make a
traffic contract with the new company
agreeing that if the net income of the
new company does not pay interest on
the first mortgage and "series A"
bonds it will make good the deficiency,
provided the amount is not over 80 per
cent of the gross receipts from traffic
interchanged with the new company.
A meeting to act upon the matter is
called for October 5.--Rutland Her.
aid.
Edward Cousi, a Frenchman, met
with a terrible accident while loading
logs with another man on the Alfred
Williams place in Nottingham on
Tuesday of last week. While fasten.
ing the load to the wagon preparatory
to starting the team, monster log
rolled of, knocking him upon the chest
with great force. His chest was com.
pletely crushed in by the weight of the
log and broken rib punctured tfe
hearti death ensued instautaneously.
He leaves wife and several small
children, all of whom were dependent
upon him for suppurt. The iunera
was in charge of the town of Whiting
ham.
A meeting of the Vermont Delvel
, ops ent association will be held al tn,
Van Ness house, Burlington, Tuesday
September IS, at $50 p. m. The OBJ
ject of the association is to make know
to residents the advantages Of Yer
mont for both summer and permaneD
homes, to initiate and promote meas
ures calculated TO increase such advan
tages, i: Guiding the legislation that, il
the judgement of the members, shall
tend towards those ends. The mem
bership of the association consists Of al
; citizens aud residents temporary o
otherwise of Vermont that are interest
ed in the object set forth in the abov
article. The annual dues and inita
ton fees are SO. The association no,
has 1875 members.
When the hair begins to fall out 0
turn gray, the scalp needs doctoriug, an