Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1852-05-27

N B. Proctor 10 disburse for freight expenses, 500 90
j. H. Daley Apr baanre of Ticket account 574 43
l.. Branard, to pay laborers ,OVg w
Land damages paid at Montpelier, l,I02 Ob
Waterbury, Freight bill due from o. Foster, ,735 O3
Champain & st. Lawrence X. Il. Co., labor, % q
Northheld Academy subscription, 5U0 w
A. b. MAYNARD note on demand SO on
g. Stevens aud VIM Steel, pay wood bill, &C., 1862 O6
II R. Campbell on account of bridging, 1858 OG
ary &C., - ~ ~ O,797 IA
Mest.s. Peek 1 Co. laye an account against 1850 50
j. ii. Blain, ' pay v master mas ''' l,ll2 &C
Tracy K Converse account for services 200 90
A. Tucker account If covering bridge 275 Oh
Ogdensburgh Railroad Co., balance Of account 4292 D.
Il. ID. Chapman cash loaned ,OOO w
Patrick Nc Enjoys note l25 W
VIM BntmHn timing bridges 800 Oh
Due from Station Agents. balance of freight nccl 529O2 VI
Northern Railroad balance Of account l3,3iO 10
Sullivan KaIuad balance Of account 1889 ~
Post Office Department 42O0 Ou
Cash, 4,9lo Vi
Total, $lJ7,475 %
| Most of the above accounts have since been
settled others have been adjusted and carried
to The ledger, and the balance to the debit OIL
cash account at this date agrees with the actual
cash on hand, $223226.
The system adopted, in keeping the books, is
objectionable in many particulars, the accounts
transactions, and would recommend that in
future the compromising of cash transactions
with other matters be discontinued
From the result OF my examination, am sat
lsfed that the accounts, as they now stand, are
correct, and will compare favoraby with those o
other roads whose constructing and running IS
going on at the same time. | can discover
nothing in them, Tor the period of my investlga
tons, TO duplicate in the least the integrity o.
those who have bad them in charge.
Respectfully, your obedent servant,
JNo. l.. COFFIN.
The PREsIDET explained, that The system o
keeping the accounts in the Mortified office
was adopted against his own opinion, and that o
the chief clerk.
The Report on the Presidents account is as
follows:
To the Directors Of the Vermom Central Rail
road CUmprny:
The undersigned, having been appointed on
The llrh instant, by vote Of the Board of Di-
rectors, a committee to examine and adjust the
private account at the Mortified Office between
Governor Paine and said company, beg leave TO
report, that they met at Mortified on the 10Th
instant, for the purpose aforesaid, and that all
account was presented, embracing the entire
transactions between Gov. Paine and The CON
pary, as entered on the books at the Northfed
office from the commencement OF the survey
and building OF the road to the present time
except for travelling expenses, &c.
| The account rendered, amounting in the Whole
TO the sum Of $47 ,G82 81, was thoroughly ex
ahmed, and compared with the books and also
with the vouchers on file in the Office.
The committee further state that, at the re
quest OF Gov Paine, they examined his &c
count of cash paid foI expenses, from the CON
mencement of the enterprise 10 this date, which
appeared to be very moderate and reasonable
, (S2, 9Sl 30, y no part OF which was included il
the account rendered, inasnuch as the sam,
had been paid from time to time, and receiptet
by Gov Pane. The undersigned further report
that they found balance of "a 062.64 due tt
Gov. PANE, as by said account, and certificate
made thereon BY the undersigned and len on file
in the Mortified Office, will fully appear
In looking over the account, it was noticeable
that no charge was made by Gov. Paine for the
use his teams. during the survey, and the
building OF the roud, nor was there any charge
on the account for endorsing the paper Of the
company, although they had the benefit of hi,
endorsements to very large amount
In conclusion, the committee are happy to say
that the business transactions between Gov
Paine and the company, as detailed in the &c
count presented and adjusted by the committee
were in every particular correct aud satisfactory
and highly creditable to him as a man OF integ
rIty and liberalty.
j. SMITH,
J. WHEELER,
JOHN H. PECK, SCommitte
JOSEPH CLARK,
JAMES R. LANGDON,
Mortified, March l6 1852
The President being asked if the report Q
earnings had been found to incorrect, said:
That they were made correctly at the time
but that on settlements with other roads and in
dIviduals, deductions had materially reduced tn
amount as reported, and that they would be st
more reduced if the work done for the Vernon
and Canada was ulso to be deduced, but f.
which he saw no good reason as the work ha
been actually performed and charged by tn
Vermont Central to the Vermont and Canad
and other roads considered such work as carr
lngs for the time being, certainly, if not for
permanently
In addition to the reception of these repor
and full discussion Of them, committee
three, consisting of WIN. Sohier, VIM. R. 1t
and Isaac HnkIey, was appointed by the stool
holders to make thorough examination of a
the transactions of the company, expenses il
cured, the conduct Of officers and of ever
thing faulty, and of the true condition and pro
poets of the road, and make faithful and pa
ticuIar report thereon as soon as practicable.
1t was also voted that directors take into col
sderation tie cSPediency of raising the fares
the road.