Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1899-01-27
FIGHTING THE LAW,
Rutland Railroad Stockholders
Bring Bill of Complaint

To Prevent the sale of the TwO-Cent
Mile Mileage Books Good TO Bearer
---CIaims In Regard 90 the Earnings of
the Railroad.
The stockholders of the Rutland rail
road company, following the footsteps of
the st. Johusbury and Lake Champlain
railroad stockholders, have brought bill
of complaint asking that the officials of the
road be restrained from the sale of two
cent mileage books good to bearer and that
the railroad commissioners of the state and
the several attorneys for the counties
through which the road operates be re-
strained from enforcing the law passed by
the Vermont legislature at its last session
requiring mileage books of such character
to be placed on sale. Judge Wheeler has
issued an injunction of restraint as asked
until a hearing can be had upon the petit
ton for a temporary injunction. The hear
ing is set for the opening day of the next
session of the United States courts.
In the orators plea it is set forth that
the present value of the Rutland railroad
as shown by the books of the company up
to..July l. 1898, is $40, 395, 1855 SO. The in
come of the road for transporting freight
and passengers for the year ending June
OOy 1000 was gGtO,CNls1O. lbo GOJhl ntb
income $3.50, 039. 20, and in addition from
rents and other sources 9,39S 40. The
company has char ged at the rate of three
cents per mile for passenger traffic with
various reductions in special cases.
1t is further set forth that the interest
upon bonds and other outstanding obliga-
tions of the company for the year ending
June 30, 1897, was $1S8, 021.20, leaving a
surplus sufficient to pay two per cent upon
the preferred capital stock. For the year
ending June 80, 1898, the interest and other
obligations amounted to 1872, SS62S, for
taxes upon property $19, 747 05, for rent to
the Addison railroad $4,000, leaving a
surplus of $85, S04.77, for dividend on the
stock, or about one per cent The road
has been economically operated.
1t is further stated that a section of the
Vermont legislative session of 1898 provides
for the issuing of mileage books good to
bearer at the rate of two cents per mile;
that these books if issued by the road will
be purchased by brokers along the line and
sold again, depriving the road of the profit
from local tickets; that the railroad com
missioners have right to enforce the law
as have the several states attorneys and
that they will do so unless restrained
Such being the conditions, the orators
ask that the road be restrained from issu-
ing these mileage books and the rail
road commissioners and states attorneys
from enforcing the law as noted and that
it be decreed that the Rutland Railroad
company has a contract with the people of
Vermont whereby the company has right
to fix such rate or toll upon passengers and
freight carried as will enable it to produce
to the stockholders of the company 10 per
cent per annum.
The attorneys for the orator are Michael
Fl. Cardozo of New York, w. w. Stickney
of Ludlow and Fred H. Button of Middle
bury.
In the case of the st. Johnsbury and Lake
Champlain railroad Gov. E. C. Smith has
designated Lieut.. Gov. H. G. Bates of st.
Johnsbury to represent the state railroad
commissioners. The orators attorneys in
the case are John Young of Newport and
Harry Blodgett of St. Johnsbury.