Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1904-01-01
BRATTLEBORO LOCAL NEWS.
ATTEMPTS TO COMPROMISE WERE IN VAIN.
New London Northern Would Make Narrow Gauge Broad Gauge But
Wanted Clear Title UItimatums Presented and Litigation in
Courts Will Continue.

string to the decree; it must be alb
s%olute, so that the Brattleboro x White
han stockholders could not upset the
whole matter whenever a within overlook
them. 1T is necessary that we have an
absolute title said Judge Powers. lin
order that we may he able to float the
bonds, whercupon Mr.. Martin limited that
the New London company had money
enough and would not want to lloat any
bonds.
President Colt intimated that a mar
~roW-gaugc road could not he run profit
ably, particularly the Brattlcboro &
Whitehall road, i'm view of the expense
of transferring freight, the delay in
transportation. etc. President Thompson
said it was outrageous to say that the
BrattleborO & Whitehall road could not
be run at a profit, and pointed out that
the cost of transferring freight would not
begin to represent even the interest on
the cost of converting the road into a
broad-gauge road. THE road might have
been made to pay President Thompson
said, 'if it We're not for the outrageous
charges which ave been made against
us, which no court ever would allow"
In view of the statement that the road
could not be run at n profit Mr.. Fits
asked a question which was suggested by
f.. c.. Crosby earlier in the day, which
was as to whether the New London COM
pGny would surrender their mortgage and
abrogate their lease on yme of their
5000, 900 invested. Judge Powers said he
was not prepared to say. President Colt
then asked if the Brattleboro e White
hall company were ready to tender $780,
600. and Mr.. Fits replied that he thought
the money could be raised very shortly.
The stockholders met alone in the af-
ternoon, when ON motion of f.. G. Crosby
it was voted unanimously not to accept
the proposition. Three propositions then
/ were made m. TO submit 10 the Now
London company, as follows:
% We Will give Il mortgage for new
bonds TO the amount of 5000. 600. to run
40 years or more ut not over > per cent.
interest payable semi-annually; will re-
qulre an annual stipend of $500 instead of
500 as heretofore for maintaining the
organization; will require that all ac-
counts for Indebtedness other than the
amount above named to be cancelled. and
we will cancel all our accounts of every
name and nature; that in the future all
charges for lighting and other terminal
charges shall be pro rata based upon the
mileage of the New London Northern and
Brattleboro * Whitehall railroads. and
that sufficient equipment to do the bust
ness of the Brattleboro Il Whitehall road
be furnished at once to the amount of
not less than % additional freight cars
and two first class engines and passenger
cars as may be necessary. and that the
New London Northern Railroad company.
or its agents, shall put and keep in good
and safe repair, the road bed. cars and
buildings of said Brattleboro & White
hall railroad. re old lease and contract
to remain in fun force except as changed
as stated herein. Should the said New
London Northern Railroad company, or
its agents, desire to change the present
gauge of the road, making the same
standard broad gauge, we are willing to
have the mortgage in creased to $3.50, 900
or to an amount necessary for said mr.
pose.
(2) The stockholders instruct the direc-
tors for the Brattleboro & Whitehall
Railroad company to agree that a de-
cree of foreclosure on the road now con-
stucted may be granted by the United
States Circuit court in the proceedings
therein pending, said decree to be upon
condition that the New London company
shall, until Jan. l, 1879, pay to the Brat
tleboro and Whitehall company an annual
stipend of 5000, shall keep the road in
good repair, shall operate the same so as
to reasonably accommodate the business
which may come to it, to make the road
standard gauge before Jan. l. 1905; upon
failure to fulfil conditions, decree to be
null and void.
go The B~rattleboro & Whitehall COM
pany will vote and execute a first mort
gage to renew the present mortgage
of $780, 900 and to include an additional
sum not to exceed $75, 900, said additional
sum to be used to make the road standard
gauge, said mortgage to run 40 years
at 3 per cent, in all other respects the
present lease and contracts to remain in
force.
After these propositions were drawn up
the New London officials were again sum
moned from the Brooks House and were
told that their proposition had been re-
jected. The three propositions given
above were then submitted to them.
They retired To another room hut re-
turned presently, when Judge Powers
said; THE three propositions we aspect
fully decline" Taking the second as a
basis Judge Powers said that in the event
that the Brattleboro & Whitehall COM
pany agreed to the decree of foreclosure
they might embody it in a provision tina
if the road was not operated to meet pub
lie demand they might apply to the SUI
preme court for an order which would be
binding on the New London company;
also that the New London company would
commute the stipend to $4,000, payable on
the day the decree was received.
Again the New London officials retired
and again the Brattleboro q Whitehall
stockholders rejected their proposition.
The stockholders then submitted another
proposition, which was their ultimatum.
1t was identical with proposition No. 2,
except that the stipend was reduced to
$500. The New Londo officials con-
sidered it an instant. Then they shook
their heads and it was all over-eXcept
the litigation.
Within a few days the Brattleboro &
Whitehall road will file its answer to the
petition for leave to foreclose and a date
for a hearing will be fixed ~ Judge
Wheeler. If the decree is granted then
the New London company will get full
control of the road unless the mortgage
bonds are redeemed. If it is denied then
the petition for a receiver will be pro-
ceeded with.