The Barre daily times. (Barre, Vt.) 1897-1959, 1922-04-01
TROLLEYS NEED
SUNSHINE
Declared Judge Wilson at
Hearing on Foreclosure
Of Road
POSTPONES ACTION
TILL MAY %
Makes Suggestion That
the Three Municipalities
Concede Something

Montpelier yesterday afternoon at I'll
close Of the hearing on the petition c
the American Trust Co. asking, anon
other things, that the operation Of tn
trolley line between Barre and Mont
pelier be stopped Immediately; and tn
chancellor added that the "muncipali
ties might just as we'll understand nov
A. any time" that those intercste,
must take some action between nov
and May p, to which date the hearing
was continued.
Judge Wilson directed II. c. Shurt
left to draft an order bringing forwart
for hearing on the above mentioned
date all matters connected with tn,
affairs of the trolley company, maxim,
special reference to the petition filee
many months ago by the receiver, H
u. Volholm. in which he asked author
ity to sell the road
w. A. Rollins. attorney for the
American Trust Co., asked for the i'm.
mediate diseontinuance Of the opera,
tion of the road on the ground that Il
was losing game as the road l. be-
ing run. He praised Mr.. Yolholm's
management but said that it did rot
relieve the situation as far as the
bondholders are concerned and that
he had waited long for the closing up
Nf the affairs of the road. He alluded
to conditions Of the road from time TO
time and he also spoke of the attitude
shown by Montpelier towards the road.
Attorney Rollins called Louis Pro-
vost, bookkeeper for the receiver, to
the stand. The latter told Of the in
Indebtedness in spite of the
excellent showing OF Mr.. yolholm. He
said that state taxes Of Sl,s75. gen
eral interest totaling $4,000 and the
81 500 paying assessment in Montpsl-
Ter have not been paid. Nothing has
been set aside for depreciation nor re-
serve assets; the road has never paid
a dividend and has run behind $4,000
since 1914. There is bonded indebted.
ness of $4,000, bonds amounting to
100000 and floating debt Of $780,
D00. The road is appraised for taxa
ton at Sl50,0O0. The floating indebted
ness has increased in thirteen years
from 10000 to Si30,O00.
Mr.. Provost thought that IL The
street line in Barre and
he Seminary hill line in Montpelier
.ould be eliminated there could be a
'aying Of $4,000 year He also told
What had been spent in general repairs
md upkeep. Attorney g. L. Hunt Of
Montpelier asked Mr.. Provost ques-
ions relative TO surplus deficit and Mr..
'rovost explained what ii is and how
{ has increased.
Receiver II. J. Nolholm testified tel.
tive 60 repairs on the track in Mont
,elier, trolley wire, the bridge at the
'ioneer and the track near the Pio-
eer. He said the company carries no
ability insurance because Of lack of
unds He hoped they would not have /
ny accidents. He referred TO the CO. T,
perstion Of the men and praised them I
Dr their service. He said he did not 4
esire TO praise himself but he thought 1
he road was Just as good as when he \
pok il. that the service had improved,
he motors better. The receiver still \
iought that the only thing to do is
, sell the road. He thought that Barre
nd Montpelier wanted the road con.
nued in operation. He stated that
lternative service on the Washington
rect line would help some but il
ould not pay the Indebtedness. He
Id not given consideration to any
her kind of power than electricity.
c admitted that the power bill, some
ing like $4,000, is one OF the big
ems of expenses.
Received Nolholm was queried
hether the road could be sold for any
ing. and he replied he would not give
for it, assuming the obligations.
c replied TO r. +. Gleason. represent
z the Traction company, that he
ould not want it. although as a 10y
citizen of Montpelier he did not
ant TO see the road 90 out of busi-
IS.
The paving job in Montpelier last
miner deprecated the revenue from
) TO $50 a day, and il Barre street
repaired this summer the loss VIII
greater. the receiver claimed. Mr..
,lholm closed his testimony by saw
Z that he had repaired the battery
d equipment. paid the National Sure
compsny's premium on the bond. 4
, had not made an effort TO compro- +
sc with the creditors.
Several sttorneys made statements :
ncerning their clienf-' interests. D. =
Dessift for the Surety company +
lined his client vas not concerned n
this hearing but claimed that his \
.nt thought It's claim came ahead of !
, bonds. Judge Wilson indicated that \
expected 10 dissolve the temporary I,
uncticr hut the matter was brought I,
'ng with the other matters TO
" % =
i Ward Carver stated that his client ,
nted his rnou~v. that the claim had =
ted long enough snd that nothing -
! been esiu~d IN the DELAYS. A q !.
Irrn he hated n see the road 70 but
lurht there wss nofhinF else % Do
grant the foreclosure asked for ~
Americas Trust %. g,
!. ~. Cardou stated thsi i Barr .
N,nfpeiirr have Eivch fi,cir fnsl
isioa 81 Has tine 70 sind 20 the
,ir= of TIE IraefFon rnrupsnw and q.
, opersticr- H ~Ertc1 ~ 4rt H. ~
eiirnfs anurunt. Hc unsirrsfo's a n
Z - rnco.rarrmrnt I'D hcrs ~ n
rrd fror- rffhrr ctr. II o1rla.i a
.bs 30 Ihsisrrs srii.nz ar r1urrrtF 81