Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1849-08-23
RAILROADS..


The special meeting of stockholders of the
Central Road, holden at Windsor on the 18th,
was both the most important and the most inter-
esting the Corporation has over held. We col
late n full account from the Boston Courier and
Daily Journal, from which it will be perceived
that the proceedings were unique and racy, and
The result very satisfactory. 1t will be observed
that the Rutland and Burlington Railroad Co.
appeared on this occasion in n very cxtraordina-
ry way. Cha,cs Adams, Esq Of Burlington
(who is brother-in-ow of the President Of the
Rutland road,) buys few shares of Central
stock within four days of the meeting, and then
petitions Tor an injunction against the Central
Company from Chancellor Royce all to redress
the assumed grievances Of the said Charles Ad-
ans ! which is granted without notice or hear
ing and within the same four days two alior-
neys Of the Rutland road also become exiempore
stockholders, for the purpose of appealing in Ter
rorem, and backing up the injunction. Such
was the mode adopted by the Rutland road. So
far us the effect upon the Central Road is con
cogncd this proceeding is not to be regretted ;
it was at least harmless but it is to be regretted
that the managers of the Rutland road should so
unnecessarily and foolshly give new occasion
for unkind feelings. Had they suggested q
hearing by counsel, or by their Presden: or 9th
err officer, as a matter of courtesy, we are war
ranted in saying that they would have been met
in spirit of libornlty and courtesy, and that
every facility would have been chearfuy af
forded them to understand fully and correctly the
purposes of the Central and Vermont aud Cana
da Companies, and to have expressed their own
views as fully as they pleased. As it was, the
agents of that Company found themselves en-.
trey upon the wrong scent, and their action
served TO stimulate and strengthen the Central
stockholders in their course, and seriously to
lessen the respect Of all for the managers of the
Rutland road.
The arrangement provided for between the
Central and Vermont and Canada roads is strict
ly within the act of lS47. The Central is to
take simply lease Of the latter, when consruc-
ted, paying rot exceeding 8 per cent. upon its
cost. Under laws like our own in other States,
precisely the same course has been successfully
Co. is 10 build its own road, and every way to
proceed according to its charter as an ndepen-
dent Company. 1t follows necessarily, that the
location of that road must be according to The
charter; and therefore that all The rights of both
the Rutland and Central roads to be fully
and honestly respected So ii must and will be.
The effect Of the guarantee OF s per cent. by
the Central Co. is to make the V. 81 c. stock
good beyond peradventuro SO all that remains
to be taken of that stock will be taken. We are
sure that it ,0iI be taken and that thus the
construction of the Vermont and Canada road is
secured. Without this arrangement, it is mol
probable that any road would for long tine be
constructed in that region. The contests TO-
men,ed there by rival lines would alone have
long deferred the construction Of either; and SC
connection with the Ogdensbursh road would
be defeated, and Vermont and New England
would have been deprived of all the advantages
to be derived from an immediate and direc
railway connection with the great West. We
therefore regard this step taken at Windsor ot
one Of the utmost Importance not only to til,
railroads, but to the people of New England. -
II secures a speedy Accomplishment of one U
the greatest projects Of the times--thc connec
ton of the Western Lakes and the Atlantic b,
railroad. Hon. JOSIAH Quincy, in. has beer
appointed Treasurer of The Vermont and Canada
Company IN the place OF Mr.. Valley, and an
assessment on the stock has been ordered. The
work is at once TO 90 on.
To complete the record of the stakeholder
meeting, we add, that previous 10 adopting thu
resolution of Mr.. Quincy, the stockholders 0
the Central CO. voted TO accept the act of lS4t
in relation to railroads, thus making it to all in
tents and purposes part of their charter. The!
also empowered the Directors TO accept, in be
half of the Company, such future acts of The
Legislature as they may think proper.
VERMONT CENTRAL RAILROAD co.
WINDSOR, Vt. Aug. ID.
A special meeting of the stockholders in thi:
Company was this day holder, for the purpose
of considering The eXpediency of empowering
the Directors 10 make any contracts and arrang
mens with the Vermont and Canada Railrolt
Company. The President introduced to thu
stoc iholders the Hon. JOSIAH QUINCY lr. Treas
urer Of the Company who very happily dispose ct
OF Tue dusuTu IulllOIS NuCu nave, 10 some eAieU
prevailed, as to his salary, and then spoke to III,
business in hand-which was the following res
olu,lon-
That The Board of Directors be authorized
themselves, or through any officers and agents o
the Board Of this Company, to take, II they shall
see fit, perpetual, or other lease to this Com
pany of the Vermont and Canada Railroad, wheI
constructed, and OF all the property, rights ant
franchises of the Vermont and Canada Railroad
Company: guaranteeing to the stockholdcr
thereof such interest and rates Of dividend, no
exceeding eight per cent per anaum, payable
semi-annually, AS the Directors Of this Compan,
may think proper; and generally, in the namC
and behalf of this Company, to enter into sucl
contracts with the Vermont and Canada Railroad
Company and others, as they may be advised
they have authority TO make for the use of sal,
road, and to take any and all such steps as sait
Directors may think proper, and conducive t,
the early use Of said Vermont and Canada Rail
road, or any part thereof, having due regard t.
the nights OF all persons and corporations.
Mr.. Quincy alluded with some pleasantly /,
the various causes that had been given for hi
taking The office, and the various statements tina
had been made as TO his salary which he il