The Barre daily times. (Barre, Vt.) 1897-1959, 1907-05-09
r. M. C0RRY, Ell. DEAVETT
AND /. M. FROST BUY
Other Local Directors Con-
tinue to Retain Their Stock
in Company. Plans Are
Made For improvements Of
the Line.

The controlling interest OF the Barre
and Montpelier Traction and Power
company operating the electric railroad
between this city and Montpelier, has
been sold BY John J. Flynn and A. o.
Humphrey and Mr.. Flynn, as adniinis-
traitor Of the j. S. Pierson estate, To
Frank M. Cory and Edward II. Dearitt
Of Montpelier and l. N. Frost, who was
formerly superintendent Of the viles
electric company. The local directors,
Rlcaard A. Hoar, Frank g. Rowland,
III X. Bush, d. M Miles Of Barre,
1nomas Price of 8fiddlesex and T. j.
Deavitt Of Montpelier retain their
holdings
This is one Of the most important
deals made in this vicinity for Inig
time, irrespective Of the consideration
n the transaction, as the road Willis
never paying dividends IS considered a
valuable franchise, second in the state
only TO the Burlington street railway
company. The actual control Of the
road viii not be turned over until the
annual meeting of the company 10 July.
The details Of the transfer were sct
tled upon at : meeting Of the two Blr-
iirgton directors. Mesars. Flynn and
Humphry, with the purchasers at Mont
pelier last evening, the preliminary ar
rangements following the first negotia-
tions having been made on Tuesday in
Burlington. The sale includes besides
the railroad the park ON the hno known
6 Dewey park, and water privileges at
Knney's mills, short distance outside
Of Montpelier
The cost of the road when built in
1895 is given in the railroad commits
sioners' report at s250,000, and It Is
PROBABLE that considering the price Of
steel and other material now Il could
rot be replaced for any less amount.
State tax commissioner Cushman an
praises the roads property at slS4 600.
the gross earnings are between s&0,s
900 and $4,000 yearly. II was con-
structed on a charter granted in 1892
and amended in 1896.
In the nine years that It has been
operated no dividends have been paid
LNt HtbfkuNlNGir Gtittl9t al Alf revenue
above actual expenses has heen paid
out for improvements. But the road
paid interest on its bonds and the aoat-
ing debt. The purchasers stated TO-DAY
that they should follow the same policy
0. putting the revenue above EXPENSES
into improving the condition of the road.
Mr. Deavitt said that they had no hope
at present Of securing dividends but
Believed that the road can be developed
SO that it viii be good business pro-
position.
The Barre directors knew nothing Of
the transfer when first approached To-
day, nor was 6uperintendont +. IT.
And1Is willing TO say anything more
than that the deal was contaminated.
He said that he had understood the
burlington interests held nine .tenths Of
the stock.
Ramors Of possible change in the
ownership Of the road came up when
the trouble over the withdrawing Of the
half-fare workmen's tickets was in the
air, and at that timethe Consolidated
Power company was the most mention
cd. In fact. it was reported that
Messrs. Flynn and Humphrey had
sold TO them. Since the settlemnnt Of
the half-fare agitation there has been
little talk about transfer but it has
been known chat the Burlington men
wished to withdraw. Last night the
Burlington men gave the Suppression
that the Consolidated people were not
the only ones after the road, but that
New York 1nanciers had considered It.
The men to whom the transfer Is
Nade are all well known here. Mr..
Cory is one Of the leading business
men Of Montpelier and IS president Of
the First National bank Of thut city,
besides being connected with the Wet
more g. Morse Granite company. Mr..
Deavitt Is an attorney and Is state
treasurer Mr. Frost was for several
years in active charge Of the yiles
lighting and power eysteni and Is there
fore well yefsed in electrical affairs. Il
Is reported that he will become superin
ttndent of the road 10 succeed MI.
Andrus
The purchasers today denied tnat they
Lad bought for any other interests, and
said that they INTENDED 70 operate the
road Tor the beat interests of Earre and
Montpelier. The price a said to be be
tween s22500O and S250.000
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Tho two. .davs old son ~ MI and Nfg