The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1848-04-22


to Meredith Vilnge, with Cars, Engines, Build
ings, Machine Shops and everything complete
would cost 100000, which is upwards OF
SO 900 per mile. Every dollar of available
stock that is subscribed for will not build and
equip the road to Lake Village and this be-
| ing the case, is il prudent or saie 10 be eX
pending money above that point on the
, whole line of the road to West Rumney?
As have before stated the last assessment
on the sock has been ordered by the Dlrec'
,ors. and according 10 Mr. Quincy's statement
they want, TO complete the road 10 Lake VIZ
lage, SlS4,9I2-S0, bit it will require mnch
larger sum. They have now IN the Lfeasury
S6l7-O0. | will now inquire where the mon
ey is coming from, 10 complete the road even
to that point? must confess that iCr o'!t;
do not understand.
Taking their statement to he correct they
have been upwards of two years collecting
from the stockholders the sum of S25l o2S-
90; at the same rate it will take at least, eigh-
teen months to collect the $lS4,7l2-S0,the n
mount stated by the President as necessary
10 complete the road to Lake Village; this IN
cludes nothing that is expanding above mat
point, and your President has told you that
the road is under contract and the work IN
progress from Lake Village to West ku'nney'
In the before mentioned Circular, the o.
gent of The routi) is referred to.
To show you his opinion, will make n
statement which cannot be denied. Soon
after Mr. Clark, left the rond MS Agent, he
wrote letter to Mr. Quincy, the President,
stating il as his opinion that-il we tried to go
above Meredith Bridge, in the present state
of affairs, that we could not even reach SaE-
bornton Bridge, and advised suspension OF
all operation above Meredith Bridge.
AT the time Mr. Clark was succeeded III Of
flee by Mr. Elkins, the change was made on
the ground that Mr. Elkins would bring in
new strength, and would obtain S20O,OOO
new stock by the first of January, 1913. Since
his appointment, cannot ascertain that he
has obtained $4,000 of new stock, and in no
respect do we stand better than when Mr.
Clark left the road, and his opinion ofIhe Sit
uaton of the affairs at that time has been n
bove expressed.
MIR Quincy also states that every bill thus
far has been promptly met. l assert without
fear of contradiction that bills against the
Corporation for six times the amount of mon
ey now in the Treasury, nre unpaid, and the
Agent, if am rightly informed, is buying
Cars and making contracts OH credit, and
running the Corporation in debt, and any
stockholder in the road is liable TO be called
on at any moment for any debt that the Cor
poration may owe, aud his private property
can be holden for the sumc.
As stated at the commencement OF this
Circular, hnve been Director in the rond
until within short time. ! resigned for the
reason that was entirely dissatisfied with
the management, and the course they were
pursuing. ! considered the course leopard
iZng the best interests of the road, and
stockholders, and my opinion has not uttered
i think the same now.
. nun at the present time the largest stock
holder in the road, and want to see the at
fairs ofthe Corporation so managed, that the
stock may be good, aud pay those who have
invested their money, good dividends.
| have not the least doubt that the rond
completed TO Meredith Village will pay per
cent, and be MS good us the Concord Rail
road stock, or any other in New Hampshire;
but we must have at leust $500 600 more
paving stock in ortler to get 10 that pont,
iMcrcdih Village.) This being the case would
it not he well to suspend all operations above
Meredith Bridge, and get the Cars running
there, and then proceed MS fast us we can get
funds, and not ruin the stock aud the interest
of the stockholders by spreading our iuhGs
over distance OF go miles of road, when our
whole resources will not build and complete
the roud The first 25 miles liom Concord?
AS regards the estimates given IN the Pres
of examining all of them, but there is one
which any stakeholder may examine for him
self viz: ''to finish fencing, $2,500."
Now the distance from Concord TO Lake
Village, is 30 miles; we suppose fence to
be needed OH each side of the track. this
would give length of 1S, $50 rods, which ut
As per rod, land the average cost of the part
built exceeds this sum) will amount to Sl2,-
1874. The amount paid for fencing 10 The first
of March was less than $1,000, and the a.
mount given in the Presidents Circular 10
finish, $4,000. Further, the Agent has stat
ed that his estimate for Depots on all this Di-
vision oftle road did not exceed $780,
whether this is sufficient or not persons con-
versant with the building and use of Rail
roads may Judge, if others cannot.
This is subject for the stockholders 10
settle at the next annual meeting, where /
hope they will require every bill against the
Corporation 10 be presented, whether paid or
unpaid, aud also n true statement oftlle affairs
to be presented 10 The stockholders, and lei
them have statement Of the Treasury, the
amount that has been received, as also the
! amount paid out,and how it has been applied
and the amount remaining in the Treasury,
! giving to the stockholders the names of those
who lave paid their assessments, and who
have not, render them the facts and they viii
then be able TO Judge for themselves, aud de-
eide on the best course to be pursued
Allow me in conclusion, to ask ofyou you
| individual eXerlion in ascertaining the trut
standing and condition of the Boston, Con
cord and Montreal Railroad, thar every stock
holder may act with his eyes open, aud thu
correct every thing that is wrong, and sus
tain all that is right
Also, permit me to ask where the none
is coming from to carry out the enterprise al
ter the last assessnent which is now laid o.
Tho s,nck ;s n,fid2 The answer il pIain IN