The Rutland County herald. [volume] (Rutland, Vt.) 1852-1855, 1854-06-23

Russia 100 5.SsS
Holland I0g 2.3g
United States CD 2,0ll
-FiRF N WoRcrsrrE.-Tho city Of
Worcester was the scene Of the most de-
siructivc couaagaliou on "Wednesday nfer-
noon. that ever visited that city. The loca-
ton Of the fire was IN the valley between
Main and Summer streets, Just north Of
the Boston 4 Worcester X. H., and ox-
north and east. THIS valley was perfect
hive Of industry, being filled with machine
shops, in which from 1000 10 1900 Of the
hardy and cntcrpnsng mechanics Of Wor-
ecster we're employed.
The whole loss cannot al present be cor
rcctly estimated. hut 1t is stated at $iOO,-
600 and S500,OOO. Many rcrsnns who
awoke IN the morning with a comfortable
competency, retired 10 rest at night bereft
of all they were worth, and one thousand
persons were thrown out Of employment.
The question whether the u. $. should
pay the expenses, Of one Of the Fugitive
Slave cases, IN Chicago, was referred TO
Mr.. Casting, Attorney-Gcneral. Caleb
says they must be; and adds piously -
This statute Of 1850 is enacted to exc
cute a provision of the Constitution, the
due and complete execution OF which in
tlmatcly concerns the fate of the govern
ment OF the U. s., and the integrity of the
Union. Such statute deserves, and will
receive, beneficial construction. so that
the misc hicfs intended to be guarded a.
gainst may be suppressed by the full use
Of all the remedies provided by Congress.
AT the Board of Brokers in Boston, on
Monday, a Committee appointed to invcsti-
of nm over issue of stock in the VT Central
II. Il. Co., made report that an over issue
of 10000 shares had been made by direc-
ton of the President of the Company
"That these shares were ordered to be
placed on the books, at the control of Ger
tain party by whom the Company was to
| be furnished with funds for the purpose Of
efiecting certain objects, which it was sup
posed would inure 20 the benefit of tho
stockholders of the V. &. X. X.
| Your Committee are not distinctly in
| formed Of the objects intended TO be secur-
| ed, but it is sufficient to state that the plan
was not successful. 1t also appeared that
| Of the whole number over issued 1000 had
been replaced leaving 5000 shares still
outstanding. At this meeting, perfect
willingness was manifested Oh the part of
the Directors, with whom the Committee
conferred, TO afford any explanation that
| oh h.a 20, th.. 10 .,f
the Company 10 examination, but II was
deemed expedient to defer any farther ac-
ton till the following Monday, at which
time the Committee were invited to meet
the President and directors of the road for
the purpose of making any enquiries that
might suggest themselves.
Your Committee accordingly had an in
terview on Monday morning, with the Pres
ident, two Directors, and the Treasurer of
the Company, who stated that they were
ready TO answer any questions which the
Committee desired to ask The Treasurer
IN reply TO your Comittee, then said that of
the 5000 shares outstanding on Saturday,
at our first interview, all but 900 had been
returned and cancelled, the greater part of
them on Monday morning, leaving at that
time total issue Of shares to the amount
of 100000 (the capital being 100000 or
an excess Of 1000 shares, which shares the
President stated that he held ms security
for Sll 900 advanced by him for the Com.
pany, on payment of which sum the shares
so held would be Immediately restored.-
Your Committee believe that this claim IL
not yet adjusted.
Your Committee desire TO state in Justice
to the Directors Of the V. c. X. X. Co..
that this over issue Of shares was made en-
tirely without their knowledge or author
ity, and by the sole direction Of the Pres.
ident, who undertakes to justify the net
under the following vote passed by the
Board Of Directors. at meeting holden on
the --th of May, lS5I:-
Whsreas, 1t IL Of vital Importance to the
V. c. and Ogdensburg r. X. Companies
to have the united action of the roads be-
tween Concord and Boston to give dis
patch TO the transmission of freight and pas
sengers between Ogdensburg and Montre-
ul and Boston over their respective roads,
therefore
Voted, That the President be Com
mittee with full power TO adopt such meas
ures at the expense Of the Company as
shall be deemed necessary 10 perfect an
arrangement with the Railroad Companies
above referred to, for the purpose so desir-
able for the prosperity Of this corporation"
A true copy.l Attest:
L. y. WALTON, Jr.,
Clerk V. c. X. X. Co.
And your Committee desire further 10
state, in Justice 10 the President of the
Company, that there is no reason TO suppose
that he was 10 reap any personal advantage
from such an issue Of additional shares
but that he was consulting, as he believed.
the interest Of tbs stockholders, In 50 do
ing. II does not appear thet these shares
were issued for the purpose Of being sold (;
but that they were pledged 10 the party
with whom the loan was effected, with the
expectation that the identical stock would
be kept subject 10 the order Of the borrow
er, on payment OF the amount borrowed
such, however, does not appear 10 have the
case, a greater part, if not the whole Of the
pledged stock having found its way into
the market.
But the Committee cannot close the re-
port without expressing their unqualified
disapprobaiiou and condemnation Of so
gross and inexcusable an outrage upon the
| nights Of the Stockholders and tine good
faith Of the community for If such trans
actions are countenanced for a moment, or
pallia,ed in the slightest degree, however
desirable the object 10 be obtained, or how
successful the result, all confidence in the
integrity Of those who are appointed 10
manage our corporate property, will be en-
t.rely destroyed.
In accordance with the views above ex-
pressed, your Committee recommend the
adoption Of the following resolution -
RtsOlrsd, That the recent oycr-issue Of
shares Ia the V. &. X. u. Co. Is an mex
eusable violation 81 the nights 81 the stock
holders, and a gross fraud upon the public
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