The Barre daily times. (Barre, Vt.) 1897-1959, 1915-02-15
The Boston & Maine Situation.

| The progress of the proposed Boston &,
Maine railroad legislation in the legisla
ture is so slow that the prospect OF a
successful issue of the federal trustees
plan for avoiding a receivership is rapidly
fading away. The reorganization bin is
not vet out of the committee stage, and
If that be the situation in Massachusetts,
il is perhaps useless to ask what may be
the legislative situation in the other
states whose consent TO the trustees
plans must be obtained.
The bill drafted and advocated by the
trustees has been criticized by remon
strants in the hearings before the COM
mittee on railroads as containing extra
ordinary provisions, and, in effect, the
answer of the trustees Is that II they
are to save the railroad from bankruptcy
extraordinary powers must be granted TO
them. There must be implicit confidence
that the trust will not be abused and
that all interests win be given a square
deal. The trustees simply ask TO be
trusted, while they save the property
from ruin. This Is a clear statement OF
the case, and the legislature Of Massa-
ehusetts might be confidently expected in
the emergency TO take favorable action
on the trustees appeal but for certain
obstacles.
The hearings the past two weeks have
disclosed serious opposition from several
sources. There are other stockholders IN
the Boston 4 Maine railroad besides the
majority interest specially represented
bv the trustees. and from some of them
has come the blunt statement that re
ownership was preferred to the proposed
reorganization. The stockholder who for
wears has fought the New Haven domino
ton most bitterly seems 70 want bank
ruptcy. Then, some Of the chief officials
OF certain leased lines appear Indifferent
concering the reorganization bill. They
probably are controlled BY coldblooded
calculations a. 20 the main chance. Their
own interests are paramount and, mas
much az their roads. now operated under
leases. hold strong strategic positions on
the New England railroad map, they rsHy
count on results from a receivership fully
A. profitable az any 90 be expected from
this reorganization Judge hnowlton
and his colleagues are working with the
public interests In view; these leased
lines are working for nothing but private
interests. The difference IL vital.
Among the remaining obstacles are
such critics as the venerable enemy o.
the Boston 4 Maine in New Hampshire.
William r. Chandler and Joseph Walk
or Of Massachusetts Both seem 60 aim
A. state Ownership and railroad chaos in
New England. although Mr.. Walker just
nov places the emphasis upon The reten-
ton ~ Massachusetts, ~ the option 20
hav : controlling numher Of the naEton
A Maine shares The brings mp the le-
cal status u athe string. which j. ~ o.
referred ~ ne legislature a. THE rom
rnouu-ealth's attorney general for an Off
ciai opinion By thp time the iegisla-
ture hears from him. there VIII not ~
much time left before March 2 II The
attorney general gives 90 the knottE
QUESTION the study II deserves III there
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