Windham County reformer. (Brattleboro, Vt.) 1901-1906, 1903-07-17
OWNS THE NARROW GAUGE /?
NEW LONDON g. NORTHERN BRINGS SUIT
IN FORECLOSURE PROCEEDINGS.

Effort to Secure Absolute Title to the Famoul
Toy Transportation Line = New Phase in
the Fight for Reoeivership Grows
More Complex.
Developments come swift in the fight
which is on for the appointment Of a
receiver for the Narrow Gauge railroad.
Local stockholders are much surprised,
and considerably mystified, at the move
which has just been made by the op-
posite side. If things keep up at the
present rate the case will become cele-
brated before the last gun is fired.
On Monday of this week citation was
served on the officers of the Brattle-
boro 4 Whitehall railroad and j. M. Ty-
Ter, trustee, by the New London Il
Northern Railroad company to appear
before the United States Circuit court
at Burlington August g.
At the time Of the construction of
the Brattleboro g. Whitehall railroad,
owing to the failure Of the contractors,
the road was completed by the New
London & Northern Railroad company
they receiving in lieu of the money
expended an equal amount in Brattle-
boro d Whitehall railroad bonds. 1t
was supposed to have been secured by
first mortgage.
In the process of time the New
London Il Northern was e-leased to the
Central Vermont, and the Central Ver-
mont, in due time, to the Grand Trunk.
During this period of years, while the
business on the Brattleboro & White
hall railroad has been increasing,
neither one Of the above mentioned
roads have provided sufficient rolling
stock to handle the increasing bust
ness. Not only that, but they have al
lowed the roadbed and what rolling
stock the Brattleboro & Whitehall had
to get into such shape that it has not
been safe for passenger traffic.
After such urging on the part of the
officers of the Brattleboro 4 Whitehall
railroad that the road should be put
in proper shape, and failing to receive
any response to their petitions, they
filed through their attorneys, Water
man, Martin & Gibson, and G. G. Fits,
a petition in law for a receiver to be
appointed for the Brattleboro d White
hall railroad.
1t now appears that the New London
Il Northern railroad company have
either mislaid or never had executed
are therefore now petitioning the Unit
ed States District court to grant a
strict foreclosure that they may take
cally wipe out the 500, 900 which the
stockholders have invested in the orig
inal building of the road.
AS evidence of the fact that they are
we'll aware of the condition of the road,
attention may be called to the fact that
since the procedure for receivership,
the Central Vermont, or Grand Trunk
railroad company, has been rushing
in ties, increasing the force and pay
of the section men and doing every
thing in its power to put the Brattle-
boro Il Whitehall railroad in better
condition.
1t was also agreed in the original
lease that stockholders of the Brattle-
boro & Whitehall railroad should re-
ceive one-half of the profits over and
above the running expenses. During
all these years the officers of the Brat
tleboro & Whitehall railroad have nev-
er received from the three above named
roads list of the expenditures and re-
ceipts of the Brattleboro & Whitehall
and if mortgage was not ex-
ecuted and recorded the New London
& Northern railroad company have no
one to blame but themselves.
One of the officials of the New Lon
don Northern railroad company makes
the following statement regarding the
new complications which have arisen
when the Brattleboro & Whitehall
road was being built and was still in
because of lack of funds
by stockholders and the
towns on the line, it was arranged for
the New London Northern company to
the line, which it did, there
Upon a perpetual lease was given to
,he New London Northern, and all
ponds of the Brattleboro & Whitehall
became the property of the New Lon
Ion Northern. The lease and bonds
we're secured by first mortgage on the
lights, franchises and privileges of the
Vermont road. The mortgage was for
70 years, and the bonds to run for the
anne period. The bonds became due
n 1901. Meanwhile the lease of the
& Whitehall to the New
london Northern Mas transferred to
he Central Vermont railway company,
which also has perpetual lease of the
lew London Northern railroad. The
riginal mortgage was never recorded
nd cannot now be found, but the debt
# $50, 600 and the additional S137, 900,
which the New London Northern spent
o complete the road, are now due, and
petition is now brought to the Unit
d States court for the district of Yer
mont for a strict foreclosure of that
mortgage, which will vest absolute
title in the New London Northern,
7hich is already the practical owner
f the Brattleboro & Whitehall.
Meanwhile the Brattleboro Il
Whitehall, by way of back fire to the
etition of the New London Northern
before the latter's petition
Tas brought, though known to the
& Whitehall as about to be
a petition to the chan
ellor of Vermont to have a receiver
ppointed to take possession of the
'rattleboro & Whitehall This petit
ion was brought against the Central
'ermont railway company, now in pos
ession of and operating the Brattle
orc & Whitehall road, the New Lon
on Northern being made a co-defend-
Mt. That petition is still pending,
ut of course will be superseded by the
for foreclosure. 1t is not
asy to see what receiver could do
ith the property of the Brattleboro d
road, as it has no credit and
as always operated at loss, not pay
lg operating expenses, and mortgaged
it is to its full value to the New
ondon Northern railway company.
George W. Davenport is to start a
swspaper in Greenfield, under the