Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1901-01-03

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acted upon honor and in good faith
and are entitled to the confidence and
support of all interested in having the
road maintained. A contrary view is
held by many citizens OF the valley,
especially by some who have pecuniary
interests at stake and, as near as they
can figure. stand TO lose snug
amount. They hold that the road is a
very flimsy and unsubstantial affair,
built in the cheapest possible way and
hurried to alleged completion before
December 30th in order that it may
receive the $4,000 bonus that was to
be given it by the towns and parties
interested, providing this condition
was met. They fear that, with the
payment of this sum, the road would
cease operation or be run in such a
way as to be of no real benefit to the
valley. In short, as one expressed it,
ut has been a bunco game from the
start The story of the inception and
building of the road is necessary to an
explanation.
In 1896, a charter was granted to
certain citizens of the valley for the
construction of railroad, under the
name Of the White River Valley Rail-
road Co. Nothing came from this
directly, but number of influential
men of the several towns became in
terested, in 1898, in the Stowe electric
road, which had just been completed
by ii. w. Burgett of Brookline, Mass.
They visited the road and, being
pleased with its work, invited Mr..
Burgett to make proposition for
building a similar line from Bethel to
Rochester. He offered to build the
road, providing he was guaranteed "A
bonus of sos, 900 to be- given outright
to the company he would organize.
Rochester voted to bond for 1885, 900,
Stockbridge for $4,000, Pittsfeld for
$4,000, and Hancock for $1,000, and
the balance $4,000 was made up by
personal subscriptions. The condi-
tons attached were that the road
should be built and in operation,
equipped for carrying passengers, mail,
express and freight in bulk or by the
carload the entire distance between
Rochester and Bethel by Dec. 30, 1900.
and no part of the bonus should be
paid until that time.
Mr.. Burgett accepted these terms
and organized the White River Elec-
trio Railroad Co., the charter of 90
having been superseded by amend
ments made in '9S. But little inform
alton is available about this company.
Nobody knows how much real ''bot-
tom" there was to it. Burgett started
in bravely enough, and succeeded in
financiering matters in such a way
that the road was put through as far as
Gaysville from Bethel in the summer
of '99. The company had raised
money by issuing its notes with its
bonds as collateral, but it reached tie
END of its money long before itreached
Rochester. Then a syndicate of 20
men of the valley pledged $l7 ,000in aid
OF the road with the expectation of
being reimbursed from the proceeds of
sec, 900 worth of the company's bonds,
which Jose, Parker & CO., brokers, of
Boston were to take at so. Ward &
Douglass, contractors, of Barre started
III W nitiSii AtAC lOtlu 40 idl
bridge and became involved probably
$4,000 themselves when the collapse
came. The company was no longer
able to remain in control and on appli-
cation of creditors the road was
placed in receivership, Judge Wheel
er of the u. s. district court appoint
ing Russell IL. Sawyer of Maiden as
receiver. While the original company
was in control, great many persons
had furnished supplies, ETC., and this
unsecured Indebtedness is now con.
sidered rather poor asset. The &c
guarantors of Sl7, 900. too. have only a
lot of rails to look at and even their
ownership of these is disputed.
In view of these happenings, it is
not strange that the ardor of many
who at the outset were enthusiastic fol-
the road, has cooled perceptibly
When the receiver was appointed, il
was generally predicted that the road
would not be completed within tn,
time limit. Mr.. Sawyer. however, has
certainly shown himself a man Of
action. Since his appointment he ha,
devoted his whole time to bringing
about the completion OF the road. Ii,
took up the original bonds by issuing
receivers certificates, and by continu
Ing their issue and finding capitalist
who would advance money on the sc
curity they afforded has been able t.
accomplish his task. He took the roaC
when it was penniless and bankrupt
and has put it through at an expense
since Sept. 9th last (when work wa
actively resumed), OF at least 1926, 900
After the finances had been adjusted
G. f. Bibber of Boston took the con
tract to complete the road. He grade,
il clear to Rochester and laid the rail
10 within tour miles of there, when tn
contract was sub-let by him to Ward 4
Douglass of Barre and Harvey Var