Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1851-09-04
MIR. QUINCY'S REMARKs.

Mr. Quincy commenced by rcmarkng that
his report and that of the Directors. stated niul
the reasons for funding The debl, and relieving
tine corporation from the necessity of borrowing
money from day to day, at usurous rates that
the investigating Committee of the last ycnr had
recommended the issue of bonds iorihat purpose,
and that MS necessity WIS apparent 20 every I'M
preiudlccd mnd
The only question was. as it regarded the rate
Of interest 20 be paid on these bonds They
were for three years, aud at the discount, Yield
ed between nine and ten per ccut. per annum to
the purchaser Could notihc money be obtained
at better rate on such undoubted security
Mr.. q. remarked that the corporation were bor-
rowing not only under the general disadvantages
of tight money market, and the fashion of de-
prccmting railway securities, but that they had
peculiar trouble ftheIr own He then proceed
ed to explain souli ~ the mysteries of the stock
mariSet-on buyers option, and on sellers OPP
ton--and showed how, hy this means. and by
selling the shares pledged to them as collateral,
operators became what was technically called
shcrt Tint Like the hunter m the fable, they
sold the skin heiore they caught the bear
Owing TO the large amount and the low price
Of shares thus had been carried to an almost I'M
precedentcd extent IN the Central stock; that it
was believed that operators had agreed 10 dely-
er thousands of shares that they did not possess
sL,res halI ,S l,r,,o -. l,,. .,,i,,...
'rbn.a yy,ro rlad,c1 -, ,,.rr,...I A.,
,n,nd ,n5 nho5t f,,r ,i,n,,,,J 80 -, ,Lo
names of br,kers fr ,,t,.b n.y., ,ec,t,. ,,,r,
issnod mo deo,.nd g. ,,o,,o, LaJ c,r.od
them all into the market; Central stock would
at some price commend cash. The result was
t,,r L,J boa,, J,,,ri,,,,i -, -. -
brr't,"j sl,o~.i,lI.r. ,.,i Ill., '..', .,'',, u,
obt,ininr s,o.t ~ G,ll;i ,.,,,,r.3t. c,, IF In.
der nose c,r,,,,s,,,,,.o h.. tb,, L,'.,s..,. 80,
and Nj st,rL nla.oI ,,r ,r,,,, -, IL
sl.r,s NM, III ,.,,rf 49,. -. III - .l
~, s,ll,r. ,.o,i.,,,,..,.,l,. h., -
NJ. o,,,,.'. ro''..,a3l .,.,,
mont - sLoy. ,,b. ,.,. -, -, ,.,,
,b.so bl.,i, 49,. -.
NJ N'
o,lo, !, or.tJa ,b .., d..
- III "r'u
'.''.'. s",,e''''"''' obtaining l'' 'aI"e lot
'''' '''s ~ ~ TX '.'''l. ns 7o''' '7
VI 20" ""9 "'0'o "' %" "''N'l
az ~" wy ''oN .! 'S'E
~! "Iu ~ i'' ~. ''s'' ''.i' anu as
10 o9r'"' w N'' ~" fo "'lo'' ln''u'i's Ill
~ N' - "P'"r s'N .''','''s'
L ''''''-' ." - '..D'''D' ~ ~, I" P''' WV"
.','. D, ! ''lis, ",i PefslN snilo,o''o's rom
H.. - - ''N'"s ~,
i-....,... a..
nm =" I'o O- 5'i"''
,.-- - u'. % 'ie ~
..'.-i ,o'u 40 't.."s "sp1 m 'l'ueilu
,r I"'u5 1ii1 .,' 80 ~ H".'iiOe
It. -. ~ oy NJ II ~ Po,''o.e
"a M, ~. ~ ~. n'' ~ sl'u ~
So. ,','' '''o 'io'N ''s 'e.'''i"9 u'.ue ~
9'a'o S"'eS anu iol" COMMUNICATIONS 10 ''e
!rl.e'. ..., ~,
,,' ,' T'i'eG , i'l''e i'ilill' mt report
's ,u'' .,,u i'''' ''a" ''l ,''o.'H 81 COR
pua.iD". uut ''l-} aN'.I '.l. W ''
NV t''1i. "" ""s " 80 lea'ousy as
.'sl',s '''' o''i0''S ana ''e s'neN' o'
Al c- i...., .t-,
., A. '', ~ e.1 ,''oa'' "n' o'"lle" I"'oiu
SONS ga, Sr '.'' oi','''.oui '"'l'9-
80 !, ,,o,bI ,,, ba Ial.., ou1r ~ u,l-
80, HI, -. - C.-, ~, "''u ~
i,.... IL. w '.,.'ii you, INC
IN =, -. ~" 'l's ~ ne "IS ~"''su up
mn -, va. '1'' on 'o'' "a
80, w." i; w. ''''i' ou0e an ol
- c i''e ieat
| a. n
J =, ~ H.. , -. 1''e VA
!, was " u''' u''y io' ''' , 'il.o'' ueiI
a'a..'o,V li''' "e'o s, b,ra had S 20 'ssuo
SUM at my No''''' ''N 'nieu' anu no
V,'''is n'u yen -. I''',i u0'lns ule