Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1898-11-17
(From Our Staff Correspondent)

(From Our Staff Correspondent)
Montpelier, Nov. 16.-The Central Ver-
mont Railway reorganization bill is now
IN enactment of the Vermont Lcgisla-
!ure IL having passed both houses and
been signed by the governor. a large
crowd came into the House this morning
10 hear the measure discussed and while
they were waiting the various attorneys
Of the different corporations represented
m the matter and members of the House
committee were busy arranging the maj
terms of the amendments. one feature
which has not been mentioned is the
clause relating to the claim OF Dr. w. 5.
Webb. This claim is secured by mort
sago on tho equipment of the road and
when the doctor found there was an at
tempt at quibbling on the part of the
Grand Trunk over his claim he notified
them that his terms must be accepted or
he would remove the rolling stock of the
road to-day. The agreement as modified
by the amendments given below is one
agreeable to all parties. When the terms
OF the first agreement. published few
days since. are recalled and the terms of
the second agrC ement are taken into con-
tideraton II will be seen that Gov. Smith
had made very successful fight against
the majority of the stockholders in the
Central Vermont Rairca company to Sc
cure these concessions. The defiant claims
made by the Grand Trunk when this bill
was introduced are entirely lost sight of
when the honest provisions inserted in
section as amended are read ana thls
concession on that corporations part goes
lar TO make It's Inauguration as a YER
mont corporation a successful one.
Tho bill passed both houses without one
WORD oi DEBATE without dissenting vote
ana now tho puolc can pe at rest from
any iufther street runors ABOUT this
measure
AS amended sections hVe ana seven oil
tho ulIl Iead as loio"s'
sec 81 mere shall De ueHNereu ilty-hNe
thousaha doIiars oi sald pohds, whcn exc
tltcu ana cefuileu, 10 ~ II. Rin1elt,
rtaSurer ol lhc central vermont railroad
company, OF II ne Will not accept the
trust then TO the NeIden National BANK
10 sen on lhe open market ana pay III iuil
without interest inc unpaid Claims ana
notes due from the central vermont kali
roau company lor suppHeS, amounting 10
the sum OF lorty-lour thousand three nun
area ana thrce dollars, as appears by the
DOCKS OF the audltor OF Sald company ana
its receivers Any iuhoS remaining IN the
hands ot the trustee shall De returned to
Tie company herepy incorporated Iherl
shall ne delNered TO Sald trustee IN trust
lor the settlement IN run OF the Following
Eo;es ana demand against the Central
Nernont ltaliroad company, VIZ
Nclhe +. hubbard note ..''.,...,Slo,OOOto
randolph National bank, note 10000
National Bank or redemption, note 93, ,Si2 lC
Nelden National bank, notes.. @,CVOC
Wagner Car company, for car de-
stroyed '....... ..,...,...,.',. ...,.. 10000
The following amount of said bonds, viz:
]. or the Nellie i. Hubbard note, $lS,-
5000 par value of said bonds.
= For the Randolph National bank note,
SE'Woo par value OF said bonds.
j. For the National Bank Of Redemption
note, @3,e42l0 par value of said bonds.
d tor the Nclden National bank note,
S@o0OO,0l par value of said bonds,
.. FOR the Wagner Car company claim
SLWoW par value OF sad bends,
Inc remainder OF the STOCK and bonds
representing the purchase money of said
railroads. snail be distributed to the sew
tlaI persons ana corporations entitled
thereto under the provisions of a certain
agreement IN WrltihS dated Boston, sept
~ lesN' between the executor of j. Greg
cry Smith estate the Grand Trunk Rail
way company inc nohdholuers commit
Tee anu others' Ana TINS grant Is accept
ca Oh the anoNe cohdillohs' provided fur
ther mat lhis company shal pay the in
s'"Ilinent uue thc equipment bondholders
unuer the Weop mortgage S2oOoo0O and in
tertst as OF the hrst or January A, d., ls9'
ana me interest due upon all the bonds
due up to the date of the new bonds pro
Niueu lor III the foregoing agreement IL
cdsh ana sHaii eHchanse new bonds fol
tle cquipniemt pohas' 10 Wit; S350,oOO.O
o'Iia' I"i uoiar'
sec 81 ms ACT shall be taken to be {
puohc act ana small De SUBJECT to altera
ton, aiheiuiheht OF repeal as the pubic
good may require, ana snail take effec
from us passage me lhcorporators here
IN named shall accept this act by liinf
IN the ONCE OF the secretary OF state thei
acceptance thereof IN writing signed b!
majority or SAID corporators and thu
couhseI OF the drahu iruhk halfway o
Canada and the counsel OF the bondhold