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 42:
The Street Railway Company
The street railway company was incorporated November 13, 1882, the motive power being horses. The capital stock authorized was $25,000, and in the summer of 1885 an organization was effected. with E. Pierpont as president. A. H. Tuttle, treasurer, and John N. Woodfin, secretary. This road is now in successful operation by electric power having been extended to Fair Haven, and at this writing is in process of still further extension to Poultney.