Vermont daily transcript. [volume] (St. Albans, Vt.) 1868-1870, 1868-12-24
NO. 1889.

morlgagcd or prcjudiccd by preferred
stock.
In October 1868, an Act was passed
amending said Act of 1867, enabling
the towns to aid in building the road,
and authorizing said towns bv vote in
town meeting to alter the conditions
onwhich said stock was subscribed
for. This Act. amending the Act
Of 1867. is what is called P,ivatc
.dci, and not yet published, as we can
learn Probably it will not be pub
IiShcd until some time in February
1869.
In October, 1868, the charter of
the Lamollc Valley Railroad was
amcndcdso as to enable that c0rp0r.
alton to abandon the valley of the
l4amoillc, and interscct with the Yer
mont q Canada, or Vermont Central
Railroad, either North or South of
the Lamoillc Valley, at such point as
they should think proper, giving them
Instead of charter confined to n
>iccjI location, the right of an open
location, and liberty to put their road
where they should choose.
On the application of some thirty
individuals, at Swanton Falls, the
select men have warned a meeting to
he held at the Town House. ON Satur-
day the Doth of December, to appoint
IA commissioner to take charge of said
stock of the town in said Railroad
and to alter or amend the first, fifth
and sixth conditions in the contract
on which said stock was taken.
The objects intended to be accomp-
lishcd by this town meeting are,
First, To appoint commissioner,
who, as an officer Of the town. can
draw pay, and charge his expenses to
the town.
Second, To alter the conditions on
which the stock wastakcn, so that
bonds may be issued at once for the
amount Of Sll,250, and delivered
over to the Railroad corporation, or
sold in the market for what they will
bring, and the money paid to the cor
poralion on the stock subscribed for
Third, TO alter the fifth condition
in said contract, SO that said bonds
should he valid against the town, al.
though the road should eventually bc
j, located, and made to connect with
the Vt. Central at Montpelier, or the
VI d Canada at Georgia.
Fourth 70 alter the sixth condi-
ton, so as to make the bonds bind
Z ing ON the town. Notwithstanding the
road and their stock were mortgagcd
f before il was built, or preferred stock
issued, rendering the stock subscribed
: for by the town of Swanton perfect
( " worthless, should the road be built
anywhere.
e This position of affairs renders
F., several enquiries on the part of the
=. taxpayers in Swanton important:
lst. Why appoint commissioner
I at the present time to take care Of
the stock subscribed for by the town I?
t The commissioners, Mcssrs. Hall,
+. Jcwctt and Catln, by virtue Of the
5 Act under which they were appoint
. ed, will continue in Office until a year
from the first Of April next. What
: then is the necessity of appointing a
. now commissioner by vote of town
i meeting ? | can discover none, un-
c less it is that they doubt whether
they can legally charge the town for
their services, and the expenses they
have incurred in getting up this pro-
jet. If the town are to pay Rail-
road commissioners, they must pay at
/ the rate by which Railroad officials
y are paid This will be at least ten
y dollars per day and all expenses.
!. Their expenses, including livery teams
II Cor riding about the country, and
h champagne suppcrS, will be much
J. larger than the daily allowance for
t their services,
c End. Why alter the first condition
Of the contract ?
: .4asCcr. The corporation want
d money. The bonds Of the town will
o sell Cat great sacrifice perhaps,) for
< money Immediately. How is this
l. money to be used? Paid to the Rail
st road corporation, who can then pay
,. Mcssrs. Hall, Jcwctt, Catlin, and 9th
t, ers, for getting up this scheme. In
&c short, dtUide the plunder among them
l. selves. If the road is never made
N they have filled their pockets by
d their pretended zeal to get it made
L. Less than eight months ago these
i men obtained the signatures to this
contract undcrthcir most solemn as
d suranccs that no bonds should be is
e, sued by the town until the road was
Id CON strurtnd To within tlrpn miles oil