Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1898-03-24

the development of the lake and rail
lines, and devised plans for their eco
nomical operation. Under his admin
istration, the main line of the Central
Vermont has been rclaid with heavy
steel rails and many new steel bridges
put in. A double track has also been
built between Swanton Junction and
st. Adams. The Central Vermont is
the third largest railroad system in
New England. 1t represents proper
| ty value exceeding S20.000,000 and
comprises in main lines and branches
over 800 miles of track. It has been
the fixed policy of President 4. G..
Smith to operate the Central Vermont
i'm the interest of Vermont and its
people He firmly believes in the
Green Mountain state as a place of
permanent residence, and his business
Investments are all in Vermont. The
development of the material interests
and natural resources of the state has
been a dominating feature in Col.
| Smiths management of these roads.
Since the passage Of the original cor
poration tax law in 1882, the state
| treasury has received in taxes from
! the Central Vermont system nearly n
million dollars. This act was pro-
nounced unconstitutional by the SUI
preme court about 1899, which neces-
STATED the enactment of new law by
the legislature in 1890. 1t fell to the
LOT of Col. Smith, who was Il member
of the house that year, as chairman of
the WAYS and means committee TO pre-
/ 4. A "a. Act no nlnIlHn
revenue for the payment of state eX-
penses.
Alter mature and careful considera-
! ton of the subject, measure was re-
ported by the chairman which met the
constitutional objections to the original
bill. and it was passed; the result of
thc operation of the new law was an
increased revenue to the state. Under
this act the Central Vermont railway
company has paid into the treasury for
taxes in seven years. ~34l, l12.3S.
lie is one of the busiest men in YER
mont. for in addition to his arduous
dutics as railroad manager he has nu-
/ merous other interests that demand
his time and attention. He is di-
rector or officer in twenty-eight differ
ent corporations, and has probably Or
oanized more corporations than any
man of his years in the state. Among
these are the Weldon National Bank,
the Peoples Trust company, the st.
Adams Messenger company, the 1t.
Adams Electric Light and Power com
many. the Franklin County Creamery
association. the st. Adams Cold Stor-
age and the New London Steamboat
company: i'm all of which he has sub
stantial interest, and ofmost of which
he is president As executor of the
Governor smith estate, he manages the
Point Farm, dairy farm of 1000
acres. at st. Adams Bay. and he Is
member of the executive committee OF
Franklin County Creamery association.
The Peoples Trust company, OF when
he is president, has from the date Oh It's
organization in 1856 strictly adheredto
the policy then established of investing
every dollar of its resources WITHIN
the state OF Vermont. "All III YER
mont has been its motto. IL has no
loan outside of the state. Col. smith
* also president of the Lake Cham
Main Yacht Club, a vice-president OF
he Vermont Fish ano Game League,
governor of the Society of Colonial
Wars and member of the Sons OF
american Revolution and other patri-
otic and fraternal organizations.
col. smith is not anactive politician,
aud amid his multifarious business
csrcS and duties he has had little time
to devote to politics. Heis, however, an
earnest and umcompromising republic
can and has kept in constant touch
with viii the principles and politics OF the
Jo ON party in the state He cast
S;s first presidential vote for Hayes, in
ue7s and for ~ years he has been
, ,es of local republican organlza-
s;ons He has been delegate to state
Inventions. and in 1896 was dele
o o'ote n large from Vermont to the re-
5rhIican national convention that
animated William Mckinley Tor pres
i,ient He was a member Of the YER
, ,s'o, Mckinley Club that attended the
i i,.lo,,onration on March 4th, 1897 lie
h l',.'' held a number of local public ON
~ Ia In 1892 he was appointed a mem |
- If Gov. Pingree's staff; previous 70
, ~, time he had been a private, e., IN |
~ W. n Ransom Guards, V. \. G, The
w ..s,os = estimation of the popularity oil a
ian Of his personal worth, Is often 70 J