CENTRAL VERMONT RAILWAY COMPANY. This company was chartered in 1898 under authority of Paragraph No. 6, Act No. 159 of the Laws of the State of Vermont, and was formed for the purpose of acquiring title to, owning and operating the railroads of the Central Vermont Railroad Company, in pursuance of a plan for the reorganization of that company issued 29 Sept. 1898. The prop erty was sold under foreclosure 21 March 1899, and the Central Vermont Railway Company came into possession 1 May 1899.
Funded The funded debt consists of first mortgage 4 per cent 20-year gold bonds due 1 May 1920, interest payable February, May, August and November. The amount au thorized by the mortgage is $12,000,000, but there are only $11,750,000 issued-4250,000 being reserved in the hands of the trustee to be issued for betterments and improvements under proper restrictions. The bonds are se cured on the entire property and assets of the company. Also Montreal and Province Line $200,000 first mortgage 4 per cent 50-year gold bonds, due 1 Oct. 1950, interest payable semi annually in April and October. The mortgage is a first lien upon the Montreal and Province Line Railway, 40.6 miles in length, extending from Saint Lambert to Farnham, Quebec, 32 miles, and Marieville, Quebec, to Saint Cesaire, Quebec, 8.6 miles. The Central Vermont Rail way Company owns the entire capital stock of the Montreal and Province Line Railway Com pany.
Car Trust Under date of 1 Aug. 1906, $200,000 in notes were issued in favor of the Royal Trust Company, in part payment for four 10-wheel passenger locomotives and 10 Richmond compound freight locomotives. These notes, 200 in number, for $1,000 each, are payable in 10 consecutive annual instal ments on the 1st day of August of each year. These notes bear interest at the rate of 4'4 per cent per annum, payable quarterly on the 1st days of November, February, May and Au gust of each year. Under date of 1 April 1907, $270,000 in notes were issued in favor of the National Trust Company, in part payment for 500 flat cars. These notes, 270 in number, for $1,000 each, are payable in 20 semi-annual instalments on the 1st days of April and Octo ber of each year. The amount so payable on the 1st day of April is $13,000 —and on the 1st day of October, $14,000. These notes bear interest at the rate of 4% per cent per annum, payable semi-annually on the 1st days of April and October of each year. Under date of 25 Feb. 1912, $980,000 in notes were issued in favor of Messrs. Blair St Company, in part payment for two standard baggage and express cars, six standard first-class coaches, two standard first-class parlor cars, one standard first-class diner, 1,000 box cars, four Pacific type locomo tives, three switching locomotives and 200 steel coal cars. These notes, 980 in number, for $1,000
each, are payable in 20 semi-annual instal ments on the 1st days of February and Au gust of each year. These notes bear interest at the rate of 5 per cent per annum, payable semi-annually on the 1st days of August and February of each year.
The company owns and operates the following lines: Between Windsor, Vt., and Saint Johns, Quebec, 177.5' miles; between Bethel, Vt., and Bethel Quarries, 5.4 miles; be tween Montpelier Junction and Williamstown, Vt., 14.9 miles; between Essex Junction and Burlington, Vt., 8 miles; between Essex Junction and Cambridge Junction, Vt., 26 miles; between Saint Albans and Richford, Vt., 8 miles,• between Swanton junction, Vt., and Rouses Point, N. Y., 17.7 miles; between S. S. and C. Junction, Quebec, and Water loo, Quebec, 40.8 miles; between Saint Lam bert, Quebec, and Frelighsburg, Quebec, 50 miles; and between Marieville, Quebec, and Saint Cesaire, Quebec, 8.6 miles; a total of 376.9 miles. The Central Vermont Railway Company leases the New London Northern Railroad, extending from New London, Conn., to Brattleboro, Vt., 121 miles; from Montville, Conn., to Palmertown, Conn., 2.5 miles; also the West River Railroad, extending from Brat tleboro, Vt., to South Londonderry, Vt., 36 miles, a total of 159:5 miles, at an annual rental of $216,552.50, payable monthly.
On 30 June 1915 the rolling stock consisted of the following: Locomotives -passenger 29, freight 63 and switching 5, a total of 97; passenger cars-coaches 61, café parlor 2, parlor 2, dining 1, combination pas senger and baggage 12, baggage, mail and ex press 31 and milk 2, a total of 111; freight cars - box 2,108, refrigerator 15, stock 8, coal 215 and flat 655, a total of 3,001• work cars cinder 18, wreck 21, snowplow 8, construction 84, caboose 45, scraper 14, official and pay 2, store 1, a total of 193; a grand total of 3,402. The road and equipment up to 30 June 1915 represented an outlay of $16,778,945.96.
Traffic, Earnings, For the year end ing 30 June 1915 there were 3,651,234 tons of freight carried or 292,602,872 tons carried one mile, showing a gross earning of $2,822,596.40 or $.0096 per ton per mile. For the same pe riod the number of passengers carried was 1,559,533 or 42,136,108 carried one mile, show ing gross earnings of $1,231,263.65, an average of $.0250 per passenger per mile. The passen ger receipts include the mail and express re ceipts for the year. The total railway operat ing revenue amounted to $4,210,411.07 and the railway operating expenses to $3,300,268.05.