Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1898-10-20


abe authority that Dr. W. Seward Webb
MIR. +. W. Clement and MIR. W. X. VAN
dorhilt, together with n few persons idcn-
titled with New York Central interests,
have secured control of the Rutland rail-
road
1t Is understood, however, that the same
will not ho in any way antagonistic to
the Delaware and Hudson railroad. DR..
Webb and MIR. Clement induced their
friends to go into the scheme simply be-
cause they had large interests and were
living OH the line of the road. The road
win be run with very close relations to
| the roorganiZed Central Vermont railroad
and for the development of Vermont in
| tcrosts In general
The FREE PRESS called up Sheburne
| Farms last evening for confirmation of
this report and found that DIR. Webb had
| Just left for Montreal and that he would
not return homo before the end of the
week, as he would 20 to Montpelier d-
rect from Montreal tonight.
! Mr.. Samuel X. Galloway, president Of the
! New York Central railroad, who had been
spending the last two days with DR. and
Mrs. Webb at Shelburne Farms, left also
last night for New York city.
! Last week the FREE PRESS
, in discussing cdtorially the effects of
Grand Trunk control of the Central Yer
mont. said: lowing to the interest of the
Nanderblts in the Delaware and Hudson
company, which owns the Rutland the
latter Will now naturally become, in effect
/ IL not in name, n part of the great New
York Central system, which is reaching
out in all directions, and the Grand Trunk
ana the New York Central are sure to re-
main separate and complete systems
This prediction has been fulfilled even
sooner than was expected ard 1t is only
one of the developments which the Free
Press has had faith to believe would COM
Live TO m IKE Burlington m important
nilrCad centre. and S1Nc 1t transportation
facilities second to no city in Northern
New England. BY the transfer of the
Rutland road to DR.. Webb and others
Whose interests IN the Vanderbilt system
of railroads are direct Burlington becomes
one of the functions OF two of the great
est railroads in the United States and in
addition to direct connection with New
York by water during considerable per-
tiou of the year 1t is assured competition
In freight rates and the Dcst of trans
prrtation by rail for all time to come.
Neither the Vanderbilt interests nor the
Grand Trunk people have entered YER
mont territory FOR the purpose of selling
out, but they have extended their systems
into this State for the purpose of secur-
ing new connections and acquiring addi-
tonal business; and there Is 40 danger
that the two systems in question will ever
b consolidated. Business men and manu-
facturcrs can therefore locate Ia Burling-
ton with the assurance that the citys i'm
proved TRANSPORTATION facilities are to be
permanent as well as TO be constantly i'm
proved.
Tho next step In BurlinSton's development
as IA railroad centre will be the construc-
ton of line connecting the Rutland OF
the one hand with the Ogdensburg and
Lake Champlain and the Canada Atlantic
and inasmuCh as surveys for tho CXtcn-
say that thu near future will see this I'M
portant project consummated. Tho Rut-
land will thus draw an enormous traffic
from two lines which have their own boat
lines connecting with Chicago and other
important ports on the Great Lakes, and
ii il sure to nave brilliant as well as
successful future.
HISTORY OF THE RUTLAND RAIL
ROAD
the Rutland railroad running from Bur-
llington to Bellows Falls, distance of
about III miles. was chartered in the year
1913. The charter was modified in 1877 and
the name was changed 20 the Rutland ana
burlington railroad. There was intense
rivalry between the builders of the Ner-
mont Central and the Rutland as to which
should he the first to open up communica
tion between Boston and Burlington. Both
lines were completed in lS49 under intense
rivalry The first train of cars from I3os-
ton reaching Burlington came over the
Rutland on December 10 of that year.
The road struggled along until 1858, when
II passed into tho hands of mortgage
: trustees under interesting circumstances.
In February of that year the manage
mcnt turned their backs upon the holders
Of their FIRST mortgage bonds, upon which
there was seven years of overdue interest
, and voluntarily surrendered the road and
all OF its property to the trustees under
the second mortgage. on Saturday nigh'
the principal OF the first mortgage became
due and they sent a man over the whole
length of the road from Rutland TO Bur
lington to distribute hand bills at all OF
the stations announcing that the property
, had been surrendered to the second mort
, gagees.
) William n. Hart was one of the trustees
OF the first mortgage. Mr. Hart entered
; suit against the railroad and retired from
business and turned his attention TO fight
ing the suit He fought 1t seven years
< and while he was engaged in the contes
@ the trustees of the second mortgage diec
s and We're replaced by others, one of whom
t was John b. Page of Rutland, While th'
3 suit was pending the first mortgage bonds
1 were DOWN to Is cents on the dollar. Tit
0 people In possession offered the first mort
| gage bondholders new preferred stock a
S par i'm exchange for their bonds, and tw'
: thirds of them accepted the proposition
& and took tho preferred stock, which sol,
, as late as 1877 at Ave cents on the dollar
The other third OF the bondholders stoo'
{ by Mr.. Hart and in 1870 received n de
n cree of the full bench, under which the,
n obtained the face of their bonds and /
4 years interest cash. amounting in all L
a s2i00 for each $1,000 bond
The road was reorganized in 1867
Id under the title of 1.-THE Rutland Rail
= road" In 1870 II was leased to the Cen
!, tral Vermont railroad for 20 years at
: rental OF 1916, coo year and In addition
s9i, 500 for 1874 and additional amounts fo
:. each succeeding year. The lease wa
Q modified in 1915. and after that time tn
i annual rental was s35S000.
d The Rutland company had maintaine'
= Its organization during this period AN,
@ until 1883 its leading spirit was ex-Gov
John b. Page OF Rutland. In 1886 tn