From Historical Rutland: an illustrated history of Rutland, Vermont, from the granting of the charter in 1761 to 1911 by Rev. F. E. Davison, Rutland, Vt.: P.H. Brehmer, 1911, page 21:
The era of the railroads. which may be said to date from 1850, it will be seen was a time of phenomenal development. The lot part of which is now occupied by the Congregational Church, West and Court Streets, was sold as late as 1835 by Robert Pierpont for $550. The ground now occupied by the railroad buildings, formerly a portion of the John Ruggles farm, was a cow pasture. A tract of land lying between Center Street and the railroad and east of a portion of Merchants Row; bounded north by West Street, and south by the Bardwell House, was offered to Mr. Pierpont about 1848 for $1,000. He was not able to induce others to join him in the purchase; but one of the men whom he ought to influence in real estate afterwards paid $3,000 for a small lot, facing Merchants Row. An Albany newspaper of the year 1852 states that "land in Rutland that was in the market six years ago at $60 an acre is now held at $2,500 and $3,000. Eight years ago Rutland was without a railroad; now Rutland is a central railroad point. No less than six lines enter Rutland; over which run forty-five trains a day."
The railroad between Rutland and Bennington was built under an act of the Legislature, Novemmber 5, 1845, incorporating the Western Vermont Railroad Commpany. The road was put in operation in 1852. The Rutland and Washington Railroad Company was organnized under an act approved by the Legislature November 13, 1847. The road was opened through to Salem. N. Y., forming a continuous line from Rutland to Troy. Horace Clark, a leading spirit in the movement, superintendent and treasurer, died on the 25th of February, 1852, the day appointed for celebrating the opening of the road being observed for his funeral. The [22]
cost of the road was about one million dollars. Jay Gould became superintendent of the road, January 1, 1864, and for two years resided in Rutland, with headquarters at the Bardwell. In July, 1876, the road was sold to the Delaware & Hudson R. R. Company.
The Champlain and Connecticut River R. R. was incorporated November 1, 1843. The first meeting of stockholders was held in Rutland, May 6, 1845, and subscriptions for stock were opened June 10th of that year. In two days more than 2,000 shares had been subscribed. The first blow in its construction was dealt in the town of Rockingham, near Bellows Falls, in the month of February, 1847. In two years and nine months the road was completed and opened through, December 19, 1849. The name of the road was changed to the Rutland and Burlington R. R. by act of the Legislature, November 6, 1847. It was subsequently changed to the Rutland R. R. Company. January 1, 1871, it was leased for a period of twenty years to the Vermont Central R. R. Company. The road is now (1911) the Rutland Railroad and is a part of the New York Central Lines. An extension has been built from its Burlington terminus through Grand Isle County to connect with the western branches of the New York Central Lines.