Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1854-07-21

VERMONT CENTRAL RAmRoAp.-On
Saturday last, Edward. Crane resigned his
office Of President of the Vermont Central
Railroad, the reasons for which will be
found in our monetary article. No choice
was made to ell the vacancy Boston
Journal, l7h.
We extract from the money article" the
following:
Another startling development in the
checkered history OF the Vermont Central
Railroad Company came out on Saturday
noon. after the usual session Of the First
Hoard. in the discovery of an additional over
issue OF between 1000 and 5000 shares,
poured into the market by the same indIvid
nal whose previous fraud Of the like charac.
fer is fresh upon the public mind, but which
had been in some degree lost sight Of in the
contemplation Of the more gigantic swindle
of Robert Schuyler.
Il appears that Edward Crane. the Presi-
dent Of the Vermont Central Railroad Com
pany, having sent the stock books to tho
new Treasurer in New York, furnished TO
the Boston transfer agent G.. w. Gordon,
Esq, a list purportIng to represent the num-
Der q shares to the credit of parties here
who had not taken certificates. Suspicion
having been excited, this list was subjected
to an examination, and to the CONSERVATION
Of all, il was found to contain false entries,
placing large amounts Of stock which had no
existence, to the credit Of individuals who
have since been free sellers IN the street,
The most aggruvating part of this new
fraud. Is in lis deliberate. cool blooded per-
pctration, while the murmurs Of Indignation
at his previous acts we're still sounding in his
ears, and while the whole community were
bleeding end suffering from the shock of the
Schuyler wickedness.
Termoni Central Railroads.&c. the Brok-
ers' Board yesterday, in consequence Of the
late over issues, the stock of this road was
refused. At a special meeting held in the
afternoon. the officers OF the Board APP
pointed n committee to confer with the .Di-
rectors in regard to what shall be consider
ed genuine stock.-Boston Alias lSih.
The Crane Defdication.-Ph Philadelphia, Ju-
" l7.-The fraudulent issue Of stock at Bos-
ton, by Mr.. Crane, the President Of the VT.
Central Railroad, created much consterna-
ton at our stock board Mr.. Crane was one
Of the subscribers to the stock Of the Sunbu-
~ and Ere Railroad, upon the faith Of which
the city of Philadelphia issued bonds for the
first million dollars of its subscription, requlr-
ing that similar amount should first be OBJ
tanned from private subscribers. The dis
covery of this fraud will undoubtedly sus
pend operations upon the road, as the second
subscription by the city cannot now be paid
Both issues by Mr. Crane we're without
warrant. In the first, he claimed that he had
authority and that the issue was for the benefit
Of the corporation. These considerations
we suppose, prevented severe measures. Ia
the last case we understand there is no ex-
cuse even Of that sort.
.Ne,c Haven Railroad Company not respon
sibls for Fraudulent Siock.-A writer IN the
Journal OF Commerce, who IS voUched for by
the editor as an eminent lawyer in Connect
icut, denies that the New Haven Railroad
Company are responsible Cor the fraudulen
stock issued by Schuyler. The writer says
there can be no stock without the paymen
Of money or that which is equivalent, anJ
that the amount of stock j. nited by TN
charter, and cannot exceed the charter limits
the directors are mere egcn's Of the Com
pany, and have no power % increase Ia
stock and much less TO ratfy a fraudulen
act of one OF their members.