Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1854-09-22

The meeting then proceeded to the election
of Directors for the year ensuing the chair
man giving notice that the over issue could
not be voted on.
Two printed tickets for Directors were cir
culated, one containing the names of G. NJ
Dexter, j. c. Howe, VIM. Thomas, o. c.
Whitmorc, b. p. Cheny, of Boston, o.
Stcarns, of Concord, and f. p. Walton, Jr.,
of Montpelier, the other ticket, called the
Vermont ticket, contained the names Of
Mcssrs. Dexter, Howe, Thomas and Cheny,
II. G.. Barnes of Montpelier, j. W. Labarec
of Royalton, and Paul Dillingham; of Water
bury.
After the balloting and while the tellers
were sorting aud counting the votc.-thcre
was another expose of State Street morality
and sympathy for Mr.. Crane
Mr.. Campbell introduced resolution
authorizing the appointment by the Direc-
tors Of a competent person to cooperate with
the Treasurer, in ascertaining the present
holders of the spurious stock and farther
providing for the reputation of the same.
MIR. c. supported his resolution by showing
how the stock could be traced, and how the
holders Of it could have their remedy, if they
felt aggrieved. He said he was willing to
adopt the stock if the Supreme Court said 50,
but he would not vote for q lie, he would not
vote to lcgalize u transaction illegal on its
face, and to shield crime perpetrated under
circumstances Of peculiar aggravation. lie
was satisfied from the appearance and re-
marks of some of the State Street worthless,
that Mr.. Crane was not alone in the trunsac-
ton.
Mr.. Farley said the stock could not be
traced, and tried to suppose case, wherein
it could not be traced But the particular
point of the case as applicable to the affair
in hand did not appear.
Mr.. Torrey, of Boston, next addressed the
meeting, He said the question was nice
question-that it could not be settled here
unless it was settled in his way, which was
to legalize the issue. lie wanted the stock
holders to come forward in manly ,csy and
vote to adopt the fraud, fraud amount
ing to ten per cent. on the whole capi-
tai stock Of the Company, when the stock
could be traced and wa. acknowledged to
be in part at least represented by gen
tlcmen in the room. He would have the
present innocent holder, of this spurious
stock protected. 1t would be for the interest
of the company to adopt it, &c. But he did
not say word about the innocent holders of
the 100 900 shares ofgenuine stock. And as
if this was not insulting enough to honest
men, Mr.. Torrey went on to try to excite sym
pathy for Mr.. Crane-hy stating how sorry
Mr.. Crane was for his crime, with what holy
horror he now looked upon the transaction,
and how he would move heaven and earth to
replace the stock He called upon gentlemen
| around him from State Street to confirm his
statements in regard to Mr.. Crane. lie un-
| understood them to do 50, and 50 did every
! one else,
Mr.. Campbell was glad to learn that Mr..
Crane was pcnitcnt hoped he was really SO,
and regretted that the " holy horror did
not come a few minutes before, instead ol
after the commission of the crime.
After little sharp shooting between scve-
raj parties in the hall, motion was made to
| lay the resolution on the table, and rejected
by rird roce vote.
A stock vote was then called for, and the
result was as follows
Yeas, 42,112
Nays, 3,l42
So the motion was laid upon the table,
Mr.. Redfeld of Albany, then offered the
following resolution
R,solved, That in the opinion Of this meeting thu
frauduenty issued stock of this corporation be con
! sidcred and treated genuine ; and that the capi
tai stock be increased to 10000 shares for tina
purpose and that the director. requested to taxi
early and efectual measures to withdraw said over
issue by purchase, otherwise, in order to reduc
the number Of said outstanding shares to 10000
and to save the company as far as possible sgains
loss arising from said over-issue.
Mr.. Campbell characterized the motion a
monstrous. lie should next expect to Sc
horse stealing and felony legaized liz
moved to lay the motion on the table, ant
called for stock vote, and gave notice tina
he should renew the call for stock votes AM
for adjournment until next week, if nece.sa
ry to defeat it.
The result was as follows Yeas 4 800
Nays ,975. So the motion was lost.
The resolution was adopted by the follow
ing vote Yeas 81 ,653, nays |, ,l4l.
a resolution was adopted fixing the tim
of holding the annual meeting on the secon
Tuesday in September.
The committee TO count the votes for DireC
tors then reported the election Of the first O
the tickets given above. The meeting the
: adjourned nne die.