Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1850-04-04
Large Meeting of the Stockhold-
ers of the Vermont Central
Railroad.

by the choice OF Henry Rice Esq, for Presi
dent, and R. F. FIske, Esq, for Secretary. I'm
mediaey afior tho organization, Hon Josiah
Quincy, Jr, Treasurer Of the Company, arose
and addressed The meeting. He said subsan-
tially-That the Treasurer, with the Directors
had taken the liberty 10 invite the stakeholder.
of the VT Central Railroad TO meet this evening
He wished to see them face TO face /; to explain
TO them the condition and prospects of the road
and 10 explain, openly and fully, what mad beer
mildly termed the very extraordiniry course Ia
ken by the Directors in the issue of new stock
at $50 share.
A short time ago he felt confident Of being
able to carry the road through successfully, with
out having TO issue new stock below fifty dollars
share. But he WAS, in this hope, disappointed
The pressure in the money market, and the fact
that raj road securities are looked upon with dis
trust makes it impossible to obtain money Oh
railroad paper. " were forced, by the exigen-
cy of the case, 10 come to the decision that we
have. At the last meeting of the stockholders
a new board of Directors was chosen. They
were mostly new men-men of character and
influence, and in whom the ockholders repos-
ed fnll confidence For the present condition
of the road, whatever that condi ion may be,
they are not responsible. All was done before
they were in office. This new Board were Tod
by the shareholders to go on and complete the
road. Tney took hold of the work. At this
time they asked me TO help them through Hav-
ing hopes Of better days, of easier times, I'M
dertook to labor for tLem and with them until
the first of May. / was permitted to take the re-
fusal Of some shares OF stock at fifty dollars a
share. THIS was all the boon craved. The
meeting here say whether | am likely to re
alize very great profit. had great faith IN
the ultimate success of this great lire OF COM
munication, and trust BY the 18th OF Sepem
Der next, 10 be able 10 take you over one conIin
uous line of railroad from Boston TO Osderis
burgh. When this is accomp isheJ, shall feel
paid for the part which have taken to effect 1t.
We are too apt TO Judge OF the value OF Ran
road Stock by The slanda d which is erected at
the Brokers' board, and not by the real intrinsic
value OF the property Mr.. Quincy had no
doubt, if the stockho ders would conform TO the
recommendations which he about to Uffer
tina; the stock. within year Two, would not
be considered high at fifty dollars a share. The
great obstacle In the way al present. Is the want
OF money to complete the road and pay ITS debts
1t is impossible TO get money in large amounts
on Railroad paper. The stockholders must
thereio.e take tn matter into their own hands,
and preserve their properly. II thes VIII nol
do it, others will do 1t Tor them and 1t must b.
done Ii there are not arrangements made
to psv the debts, THE COMPANY MUST FAIL,
"Ai1A "oHio W o'S'0NT ~
parl O. the shareholders. Some perhaps may
say that we can Issue new bondS-very easy
SAID, bul can we Jet the money for them Rail
road S ocks are not at present IN good oder, el-
ther here or in England. | sent, 10y one o. our
first merchants, 10 England, TO see If we could
ger money Oh our oohoS uG'e out ne "io'e
oacK inst ne cou not gel d u'iiar' he Diiec
torS, aiteI ioohils uie case over sa" ~ o'iei
way lot inem thah 70 l,sue tueI lie" s'oCN d
S''o snare Nii tne iO'OoV sNafes' d. iilf!
uoiiars' pay lne ueois anu SCI 'he I1"u oi suie
ahC souhu ,ouhua'ion ne s'oThiiuiue's "an'
10 Know "here lne ooI'o'n Is iie'e Is stile
ment oil Inc CONDITION OF me ROAD, tahen rom
the books. Ii is approved by the Directors
statement; .,
We OWE coating De" si'l "a, '9 soS 30
Ionds loaned BeIkpsp .e5 aJO w
- eo o3e =,
Add to cou,lo,s IN. road 2aJoS0 90
p.,... s--S0'O'n 81
6eo4is q estimated 4Oo'eo1 o.
- :.
r.luo ,,.o s,noun, duo from, ''',,s'Soo ~ ~
subscribers, S7o.457 is estimated iO''O'' W
.r,,.,.....e.,c. .u. e.,.,..s 81 go T3s a.
luc Boad sod and loaned iGue in is52) sg7 900 w
-,,o,---- -
fI9sins u.I' 10 o. The Al NM lha1Is
.s rI'o M AZ. ~ a., 80,
aaNen w., Ilh Pay Oh VI ,uI a. " d = 81; H.
nv uO"uo w, - '1'a ,han h. d.
WI se.. ,oi ueu+ aa O,o =, ss
IT, :. ~ 80 - 80.
"".n a. "a' 'o-a d. ny o,ho- ,,o;n. Tho
w. ,io '.0 80 III ''a Canada R.,,o.d ,-e ~
.'; e."o"' c.aL oh - 10 Wnrcos,sr ID
w.. d. p":,ra IT, Vor''.oo, Ceo.rai vii
'ei" Na''iou s 49, Ca,ad.
na'1 ~ pay rem ioi .no uSt VI ~, ,h.e.I. -.
'odu' az o'ne. ,pa's ~ 'one "a'e .ns
rem h'sh' ne rem vi o.,e' 'vao' -
per cent on S9c,OoV per nhe' &c are ~ pay
tne Cahaoa ROAD per cent Oh 90 'Voo PEI ".e'
winch makes matters ABOUT square. mere Is
no oDhsauon on cur part 10 aio IN euiu'hs tIe
canada ROAD. Inc eiiei reason Oh our s.och
seiiing 10" al &c snare, Is, una. people uoh
oeliese you VIII hnish me ROAD. A-ahe IL niahl-
test That you VIII hnish The roao, ana confidence
Will return, and the stock Will go up. And now
gentlemen, you must come forward and hniSh
the road Put your hands IN your pockets, anu
pay the debts Of The Company, and let no mort
gagees get hold OF 1t.
ing the Vermont Central. In conclusion he