Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1852-05-20
Committee,


had materially reduced the amount as reported and that
they would be still more reduced the work done for the
Vermont and Canada also be deducted but for which
he good reason the work had been actually per-
formed and charged by the Vermont Central the Vermont
and Canada and other roads considered such work earn
ngs for the being, certainly not for permanently
He thought the running expenses of the road estima
ted did not give the true state of the case Construction
going the time with the regular business OF the
road rendered impossible keep proper division of the
EACH and one necessarily has prevented the other
being done advantage He had always objected to hav
ing monthly returns published it tended to mislead al
though fairly stated the time. He reason why
the road could not be cheapy any other road and
he had lost confidence in the future amount of business
to be done by the road.
Mr.. J. p. PUTNAM, of Boston, in behalf of the D-
ectors presented verbal report the affairs of this
corporation and JOSIAH QurNcY JR. late Treasurer,
and a Rel ly, in writing, to the pamphlet publish
ed by Mr. QUINcl in March last, together with
res of resolutions the same subject and, after a
statement by p. W. CHANDLER, Esq of Boston, as to
the condition of the estate of Mr.. QuiNcy,
On motion of Mr. W. II. GREcERsoN, of Boston,
it was
Ordered, That the Reply be referred, without read
ing to the Directors, with authority to publish the
same whenever they shall deem it advisable.
The meeting proceeded to consider the resolutions
of Mr.. PUTNAM, relative to JOSIAH QuNcY, JR,
and they were, scyeraly, adopted by unanimous
vote, and are as follows, to wit:
Resolred That the Directors be- and they hereby
are, authorized to settle and compromise with parties
holding the notes of Josiah Quincy, Jr. secured by
bonds of the company, private notes with his en-
dorscmcnts as Treasurer in such manner and upon
such terms as shall seem to them most iudcious
ReS0lred, That the Directors be authorized to take
anymeasurcs they may deem cxpedient relative set
Element of any and all claims Josiah Quincy, T.,
upon his estate in Insolvency, and to execute any
and all papers necessary to that end.
The meeting resumed consideration of Mr.. Pur-
MANS preamble and resolutions relative to a further
issue of Mortgage Bonds and it was
Ordcrea, That Committee of three stockholders
be appointed by the chair to nominate three persons
to be named in the second resolution Trustees.
Whereupon the chair appointed Messrs. JoHN c.
PRArr, SAMUEL o. MEAD, and B. +. Brooks, as the
Committee for this purpose.
Mr.. joins c. PRATT, Of Boston, in behalf of the
Committee just named reported the names of II
II. HuNNEwELI, q. HowIAND SHAW. and w H.
GRroERsoN, all of Boston, Mass, as Trustees which
report was accepted. and
The preamble and resolutions offered by Mr. Pur-.
NAM, were adopted, seyerally, by unanimous vote
and are follows, to wit:
WHEREAS, the Treasurer of the Vermont Cen
trail Railroad Company has represented to the
stockholders here, that he deems it expedent and
necessary III order to pay the debts contracted for
building and finishing the road and fully equippng
the same, to issue notes or bonds payable in fifteen
years from judy LIST 1852 and bearing seven per cent
interest payable semi-annuay and that said notes or
bonds be secured by second mortgage the road and
other property of the company Therefore it is
RcSotred, That the Directors are authorized, and
we do hereby recommend that they forthwith issue
notes or bonds OF the company to such amount as
shall be required to all the necessities of the COM
pany set forth in the Treasurcrs report this day
made to us, said bonds to be payable in fifteen years
from July l. 1852, with interest at seven per cent
payable semi-annuay; and that the Directors cause
to be executed by the President and Treasurer of said
company, deed Of trust and mortgage to such per-
sons as may be hereafter named, to secure the pay
ment of all such notes bonds shall be hereafter
issued for the purpose aforesaid provided neverthe-
less that the amount of said bonds shall not exceed
fifteen hundred thousand dollars
ReSotcea, That H. IL. Hunnewell, G. Rowland
Shaw and W. ii. Gregerson, all of Boston, Mass
be the trustees to whom the said deed of trust and
mortgage shall be executed
ReSo(ced, That the notes bonds issued under the
mortgage now recommended by the stockholders be /
issued by the Treasurer under the advice and consent
of the Trustees named in the mortgage, and only to !
such an extent the Trustees shall deem necessary
from time to time to meet the liabilities of the company
On motion Of Mr.. J. c. DoDGr of Cambridge Mass.
it was
ReSotced, That in of any vacancy in the Board
of Trustees, by refusal of any member to act the
same shall be filled by the Directors
On motion of Mr. w II GRrGERsos, of Boston, it was
ReSolred That the Directors be recommended to
take INTO consideration the rate of freight and pas