The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1911-02-18
PRES. MELLEN
COUNTERS ON
CRANK TRUNK
New Haven Road, Through
Subsidiary Lines, Strikes
for Route Into Canada
Will TAKE TRADE TO BOSTON
Vermont Valley Acquires
One-half Interest in Rut-
land Railroad from New
York Central.


President Mellen. of the New York,
New Haven & Hartford and Boston &c
Maine railroads. announces that par
ties in the interest of the Vermont
Valley Railroad Company have ac-
quired %. 5201k preferred shares of the
Rutland Railroad Company. from the
New York Central road. The object
of the purchase. according to Mr.. Mel
lens statement, is the requirement in
the interest of the Boston & Maine
railroad system. of route to Bur
lington and Montreal. by the way of
oufred is Just one-half of that owned
by the New York Central. The Ver-
mont Valley Railroad Company is a
corporation of Vermont controlled by
the Bos on & Maine. Mr.. Mellen's
statement further says:
Mellen's Statement.
1.-The conditions heretofore surround
ing the use. by the Boston & Maine
system, Of one Of it's principal routes
it was not deemed Advisable to be
further dependent upon their continu-
ance.
''The acquisition of this interest ex-
tends the line of the Boston & Maine
practically to the Great Lakes. at
x.
steamboat lines controlled by the Rut-
land railroad. operating on the lakes.
to Chicago and the West. thus enabl-
ing the Boston & Maine to assure to
the port Of Boston larger percent
age of the grain carrying trade.
This transaction also enables the
Boston & Maine to connect at another
point. and with long haul upon it's
own line. with the Canadian grain
carrying roads. assuring more pern1a-
nently g. participation in the export
grain business of those roads by way
of Boston.
Due to Reciprocity.
''The proposed treaty of reciprocity
between Canada and the Uni ed States
has largely Influenced those in con-
troll of the properties to make this
secure a larger participa ton in the
revenue from this business through
longer haul and especially also. be-
cause of their desire to promote the
interests of the trade of the port of
Boston.
tThe lines of the Boston & Maine,
and Rutland are complementary and
supplementary one to the other. and
in no sense competitive and he SER
vice by the two lines should be aug
mented and promoted as result"
The Significance of the new pur-
chase of Rutland railroad stock by
what is practically the New Haven
road, appears in the fact that 1t Is a
counter stroke against the entry into
New Eneland by the Grand Trunk
Vermont Central from Palmer. Mass,
to Providence. The important parts
of the Rutland gre those ewtenS 'ng
northward from Rutland, and the line
from While Creek of 1e1 miles reach
ing northward to Noyan Junction.
where owning traffic rights 1t connects
with the Quebec Southern and Canad-
ian Pacific over a line of So miles to
Montreal. The Grand Trunk south
ern extension of the Vermont Cen
trail is thus contained between two
converging lines which will allow of
transfer of Boston & Maine and south
ern business to Montreal. The Rut-
land also has western business over
its Ogdenshurg line and owns the
Rutland Transit Com pany. which has
a feet of vessels from Ogdensburg. N.
T. to lake ports. While the figures
are not given out Officially it is re-
ported that the actual cost of the half
interest in the Rutland has been So
500 0c0. -
The preferred stock carries accu-
mulated dividends through many years
past which now amount to nearly 200
per cent. The funded debt is $11.-
402 600. The earnings of the latest
gross and $8Ss.071 net The fixed
charges of the road are about $685. 900.
and in the year 1909 it earned a sur
plus over charges of a little more than
5000. eco. The Rutland railroad is one
of the oldest railroads in New Eng
land, reaching from Ogdensburg, NJ.
Y. to Rouse's Point. N Y. and.
through Purling on and Rutland to
Fellows Falls. where it connects with
the Valley and Cheshire branches of
the Boston & Maine, and from Rut-
land. VT. to Chatham. N. Y. with
branch from Leicester Junction to
It owns three hundred
and ninety-seven miles Of track. leases
miles. and operates fifty-eight
miles under trackage rights. thus max
ing a total operating mileage Of 468.11
miles
The common stock is s1ss 400 and the
preferred stock per cent. cumula-
tive s9,057 900. making total of So
PSI. 600.
The road has paid no dividends since
1907, when it paid ia per cent. on pre-
ferred stock.
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