Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1854-08-04
The Vermont Central Over
Issue.


Of the Vermont Central Rail Road Compa-
ny, yesterday submitted the following re-
port, which we copy from the Traveller
The report was accepted, and the accompa
nying resolutions were.adopted, unanimously
The Committee appointed to Investigate
the matter Of the second over issue of stock
in the Vermont Central Rail Road Company
beg leave to submit the following Report:
1t appears that on the 23d of June, ]. N.
Perkins, Esq, of New York, was appointed
Treasurer Of the Co. and George w. Cor
don, Esq, was appointed Transfer Agent in
this city. These gentlemen did not expect
to enter upon their duties until the 18th
July, and it was distinctly understood on
the part OF Mr.. Perkins, that he was not to
assume the active duties of his office until
that date. 10 the meantime book of GER
tificates was forwarded to hun for his sigma
ture as Treasurer of the Company, BY Mr..
Mr.. Crane, the President, to be used at the
transfer agency in this city These certif-
Gates were signed by Mr.. Perkins and re-
turned to Mr.. Crane.
On the 26th June. Mr.. Crane placed the
certificate book in the hands of Mr. Gordon,
signed by the Treasurer and himself. ac-
companied with list OF names, with sundry
amounts placed against them which he
stated to Mr.. Gordon represented the mum
Der Of shares standing at the credit Of the
respective parties for which certificates had
not been issued, and which were subject to
their order, and directed him to transfer such
. SUR whenever shou'u ne drawn lot -
in's iis' V"nta'heu ',le names OF we prom
nen' s'ovh"o'ueis anu PrihulPai operators IN
tho GfarE and al
'ne st'ch, uuu represented correctly the
nuhper OIL SHARES each party was enutled TO.
WIN TWO exceptions Danirl d. brodhead
was stated 10 nave $3.50 shares subject to
XIV ha sa aIq In L -sI iha,
nSrties we're entitled n onv stock and that
The account of Daniel ID RroJboaa was nj.
readv overdrawn to The evtent of ooOO
shares which nom constitutes tho balance
outstanding of the frs, over.issue.
These amounts. making lO32l shares
constitute the amount of the over-issue. so
far "a ascertained. and the officers If 20
are confident that this is the extent Of tho
fraud. There Is no evidence on the face or
the document presented bv Mr.. Gordon IN
show that 1t was list of Stockholders in the
VI Central Rail Road Co. II il simplv a
list of names. with sundry amounts set an
n,si,s zach name ana s,gned n Cana
President. and IN the handwriting or Mr.
Crane. Mr.. Gordon s,a,es that whom he
received the list of Mr. Crane he declared II
to be list of balances standing Al tho credit
of the several nart,es aud directed hin, IN
transfer the same rs the orders should be
presented. Mr. Gordon also sta,es that no
objected to the inform,litv of me nroceed-
inc and nreferred 10 make ma transfers un,,l
Mr. Crane stated thai II would take some
little time to balance the hooks breparatorv
TO placing them with Mr. Perkins and Thai
they would be balanced by the former
Treasurer and nlaced with the new officer.
win as l,,,lo doli, ~ ,,,s.,t,l,
Tho rrond vas ds,srte1 On Friday Irlv
If bv enc If Tho otTi.ers ~ he Co,n,..ny,,
who bod occas,,n ., ,,,,,,-,.,-, ,t., ,ra,,sf,,,
booL v,,b tna stoct ieJ,,p- None MI ,bo
Direr,ors beinr in ,owo IN Tho, Ja, - ,v,s
no, ,,adc k,,ao a.. TN .,,,,, s,,n-d,, tho
I5,h whom ,bey i,oa,sj;s,ol, h,d an ,n,or-
INV with III C.,na ,,,h, ,o9daro1 he 80.
s;rn,t,on a. preside3, ,nd D,-ec,o- of Tho
Con,nanv M nerson can,tsc,od win ,ho
Coun,ny sso,ns =, he j., on, 49,, ;,,ni,n,,aA
!, th,s sgronJ ,.arsa.,,,,, ,,l, a., .y,a,,,,,,,
of Nr Crane
The con,,,;,,oo an,o;n,oI ., ;,,,o.,;,.,o
tho frs, o.ar 80, 80 - 60 - aaI
i,.,;or c,- tho .c, ;na.s,,,,rh as he eI,,,I
dd no, a,saar ~ ha, -, ,,,.,e,ra.,i e.
The nri,aia hanas, IS H. e. ''a, 80 ~, 40
nro,on, res,;,n,;on was n,a4, - ,ba 60, ,
p ~, hr, 49,, Ieao,,I - W 'nv ,1o''Pa
c1se. a dsbberate and andsc,nns act os ,,i.
l,nv ,vb,cb nnJor Tho c,rcn,ns,ancos +, =
d,fe,I, 9, h,l,a,', az, ',iJ -, -
hoId and dasnora,, oo,,,',h ., -, ID.
fnra tho iod;on,,;o, hsJ ,h.,.J III. ~,
FIRST ,ro,sac,in, nal craota1 !, hal, ,'>o,,,
ed noss,hla tina, The so,,e ~, ,v,,,td a.,
commit a s,.ond on,rage under such 49,,
waited circumstances.
To inHict a second injury on a corporation
already Frustrated by his misconduct rem
ders the act the more detestable. and when
it is considered that every thiny was done IN
shield him from the consequences of ms first
transaction. on the ground that he received
no private benefit from IT, he has added IN.
gratitude to crime. and stands before the
public an object of scorn and conte,not n
is not alone the injury and loss he has
inflicted on the Central CORPORATION that he
Is guilty OF. but the effects of his rasctlity
are felt on all similar property. and there Is
scarcely a stock or security ON the list
which has not been deprecated by his acts.
From this and similar transactions which
have come TO light within the mast few
weeks. confidence has received n shock
which cannot be recovered from for a lone
period.
If there is no legal punishment for such
stupendous frauds, il is high time that laws
should be enacted which will bring the of.
tenders TO Justice. II is not ius, To punish
minor crimes with severe penalties. and let
the Deroetraiors Of such ybolas.la c.,rds
ascons IT, no., o., d.e-,,l
and a.. n',si;n u,,'a'D ", I''o ~
all. rrI'' w - ~ ','ou'''"us "
~ "nu '''''no nv a'o'e',e,'' VI iesu'u,
s'o", eA.sPs ~ s'unPy 'eslYu JUS o'iioe' -
Peanuu, gu oa''iio' 's.' 70
ga rao'. S,,Ns anu uisast'oIs ~ ,'s eneI's,
tho a on,..', a"u - " &c sopeu no" my
,h,,, as. ''esn ~ ,"1 Puol'' "i'"u'
,ha o..n' ,''s . may DC l'Nen 70 SEIZURE
already ey,. wb;cb wipl ,@m ~, 'ey 10 ~
c'oauy eAi''J ""ion WIN renuef Impossible
~ tH' suilil phIhtr III SUCH transactions 10