New-York daily tribune., 1858-11-30


The Tcy Wig OF Saturday, says:
A decision wa rendered on Thursday in the
Supreme Court Of Vermont of great interest 10 rail-
road men and oi much practical importance IN tins
vicinity. II was u the case 81 jonathan Sturgs snd
Thomas Do lglss bondlOliers OF the Western Vermont
Railroad a yaisst tie Troy aud Boston Railroad In
Jsnuary, 1870. the Troy ard Boston Railroad leased
the Wes,em Vermont Railroad Of the bondholdess-a
road running from Bennington to Rutland. TIC lease
was lr ten ycaIi, uless majority ol the oondhohers
should give notice al it. termination ia one year-in
which ease II .houl then xpire. Messrs Sturgs and
Douglas two of the bordholtrs residing in New
York City, did Ve tbs notice, anf al injunction was
procured from tue Chancellor, restraining tile defend
ants from using the road. Tie Troy and Boston Rail-
road appealed To the highest Court in Vermont, which
has ecn decision in their favor, and doubtless put
them in immediate possession Of the road.
The BAY STATE MILls-lhe Committee OF
Creditors Of the Bay State Mil, have issued circu-
lar recommending a new plan FOR eapitaizlng the
d. ots into the Washington Mills. The total debts
are s. 100000 of which 10000 are held by moi
,iiuas. and sbD,00 by corpCrai2ps, executors aud
guardians unable to take stock, or 10 whom such a
course would involve unreasonable responsibilities.
The holders Of the SiJ00oOJ are 10 become stock
holders and ,eive certificates OF the reIquishment
If their claims Tie s|0,c0 is To- be constituted q
fve-years debt secured by equal amount Of the
capiel stock. Ii al toe creditors subscribe, diyi
dend Of - e cent j. 10 b. male at once; II the sub
scri.on amounts To = U0ONO only, Il dividend OF -
A. cent ii To 81 500 000 ory, ii, dend OF ~ cent.
Tie agreement il rot to be binding unless the o.
scrpti6n amounts to II $40 800 aud creditor is to
have tue iight in after Jan. 1883, except by
permission OF the Committee, and none is 20 come 10,
at any rate, after Jan. ID.
Tie Conn.iitcl ale Of opinion that e public sale o.
tie real estate s advisable They to think also,
that the Directors OF the corporation will sell one
of the MILF, by OF which large addition
will b. made to the active capital. Two Of the Dl-
rectors are 70 be nominated by the holders of the
f90n coo above mentioned This $9C0 Dis 10 receive
ITS proportion of oil the dividends paid, TO the extent
of T. cent q for the five years-sll excess oi
dividends above 8 cent to 90 TO the stockholders.
The corporation il to be formed when 81 500 900 Is
subscribed. Those creditors WHO do not join in the
plan will receive their dividends Of course, from the
receivers. These dividends Will be based the
$l.300,tG0 already collected decreased by whatever
i pad by the Washington Mills for the real es
tate. II this latter 81 ould be 500 600, creditor
not joining the plan would receive - cents q
dollar. The Treasurer of the Company Is to rep
recent these creditors who subscribe 10 the plan, aud
Is to receive their fiCdeAds trom the receivers.
In regard to tie Cumberland City Bank bills, TIE
Balimcre Sun says:
Tie parties who were redeeming these notes here
Messrs. Appleton y Co., and We hear that the
Of their declining longer to do 80 arises out of
tie protest Of one or two drafts drawn upon bank
iug-house in New-lork. The drafts, il s alleged, en-
braced al oyerdrawal. Tie holders OF the notes
rcferrod by Appleton 4 Co. 20 the institution at
Cumberland, they hot having heard refusal s. yet
10 redeem At that point. The bank, Il il said hes ony
small circulation out-not exceeding SO 600, and its
assets represented sufficient 10 provide for IT,
Mr. Norton the PIe-dert If the insttuton, which
it Was designed to pat into more enlarged operation
shortly. The preseut title Of the bank which has
been savings concern once, was given to il by act Of
TIE est I-gi, latuie.