The Portland daily press., 1870-05-25
NEW hANlPSRIHRE.

THE RAILkOAD FIGHT.
CONCORD, N. H., May 24-On the arrival
of the trains this morning this city pre-
sented lively appearance. The Concord rail-
road corporation never held so full and excited
meeting. Nearly every legal man in the
State of any prominence, and many out of the
State. appeared interested on one side or the
other, and animated discussions were held in
the hotels and on the streets before the hour of
the meeting. None but stockholders and re-
pOrters were admitted to the body of the hall .
The meeting was called to order by President
Minot at 11.15, and the call was read by the
Clerk The reading of the annual report was
dispensed With. Mr.. Marshall, of Concord, ad-
dressed the meeting on the report, severely
crticising the action of the old Board of Di-
rectors in its contract with the Northern road, ,
and the general running expenses of the road.
He did not believe in setting aside large
amount OF money for expo nses, for it ought to
be in the Treasurer's hand and not go to en-
rich any individual. In the way of interest the
report was not full enough The stockholders
should not be put off by gittering generalites.
Mr. M. occupied about fifty minutes, having
made an able address.
Gen. Butler followed in the favorable loca-
ton of the Concord Railroad and its equip
ments, and would like to know why a road that
was master of the situation should be leased
to another road. In the annual report less was
said of this important contract than about
building woodshed. He then reviewed the
legal aspect of tho contract. He never knew
Of such transaction before. He minutely re-
viewed the provisions and did not believe it a
legal document. 1t was lease, and as such
should not be given under the statutes. you
want this to stand re-eect your old board and
say, swell done, my good and faithful servants;
although they have acted as masters" Gen.
Butler closed, having spoken half an hour.
He was followed by Col. John H. George, in
answer to Gen. Butler, and dwelt at length on
the past history of the road. The old conduc-
tors suits and great hobby of consolidation
and history of the ''ring," showing that the
same parties as were now in it peltioned to
the Legislature in 1868 to have the State sell
the Concord Railroad TO them for a bonus of
$3.50 600. Col. George was very severe in his
remarks on the individuals of the opposition
ticket. He occupied about half an hour.
Mr.. Marshall in reply said that the opposi-
ton had already been offered $780, 900 by par
ties of the Northern Railroad as bonus on
their stock, and the discussion took a very per-
sonal nature and affected a great deal of amuse.
ment to the audience.
Gen. Butler moved to postpone the further
consideration OF the report zand go into the
election of directors.
HUI. "A. L. -Fihv-.c I,....La:., s-ll.1-.4tou-
ton to the provision of the statutes, that upon
the request of any stakeholder any one attempt
Ing to vote must make oath before a Justice OF
the peace that he is bona fide owner of the
stock here. He read list, which he should
desire to take the oath.
Judge Minot answered the remarks of A. S.
Marshall with considerable feeling, stating that
Mr.. Marshal's reflection on himself was un-
worthy of reply. He spoke with considerable
feeling in vindication of himself and his associ-
ates. He said the contract was verbatim
copy of the one between the Concord and Man
chester AID Lawrence roads, and il one is void
the other is; and the Concord road is open to
competition on vital point with the Boston &
Maine road.
Gen. Butler interrupted President Minot at
great length.
Col. Mason Tappen of Bradford spoke Of the
action of the ring and warned the stockholders
Of the danger before them. He thought that if
Gen. Buffers statement was true that the new
directors could take possession of the road in
three months, it looked like force of arms and
would be certain to bring on conflict in the
city of Concord.
The Hon. David Cass of Manchester followed
for the ring and anti-consodation. A COM
mittee was appointed to receive and count the
votes as follows: Hon. Asa Fowler of Concord,
G. w. Stanley of Manchester, w. Ii. Hackett
of Portsmouth, Edmund Burke of Newport, Ira
A. Eastman of Concord, Edward Spaulding of
Nashua.
The following resolutions were offered by
Hon. David Gross of Manchester, and adopted:
Whereas the President and Directors of the
Concord railroad corporation for the past year
have violated their official trust and have un-
lawfully used their powers as agents of said
corporation in an unauthorized undertaking to
deprive its stockholders of the possession and
earnings of their railroad and the property
thereto belonging, by proceeding unparalleled
in history in railroads, and in violation of the
obligations which this corporation owes the
public; therefore
Resolued, That we condemn the official action
of said President and Directors in reference to
| their recent sO-cahed business contract with
| the Northern railroad, and we hereby set aside
| their action in reference to the said contract
as wholly unauthorized, illegal and in viola.
tion OF our rights and the rights of the public
| and we hereby pronounce the same names void
RESOLVED, That the board of Directors this
day chosen be and they hereby are instructed
| to adopt such measures as in their Judgment
may be deemed expedient to assert and main
tain the rights of the stockholders to the road
and to other property of this corporation.
| A stock vote was taken for the Directors
| with the following result:
The ticket headed, mo consolidation; stock
holders have a right to control their own prop
erty"-Isaac Spalding of Nashua. ..16 $40; Fred.
| erick Smythe, Manchester, Ii, $50; John FL
/ Pearson, Concord, 1926; James w. johnson,
Enfield, 1926; Edison Hill, Manchester, Ii,
| 6S9; VIM. II. Spalding, Lawrence 1890; VIM.
A. Tower, Boston, Ii, S25.
| Old board-Josiah Minot, of Concord, 10, ,236;
| Francis w. Weld, Boston, $500; Thos Chase,
Nashua, $500; Nathan Parker, 1915; Phineas
| Adams, 9556; j. Stephen Abbott, Concord
$500; Richard G. Messer, New London, 9924
Gen. Butler moved a vote of thanks to Pres
ident Mnot for the abe and impartial manner
| in which he presided, which was unanimously
| carried.
The new board of directors met at the Eagle
Hotel on the adjournment of the meeting and
| organized by the choice of Isaac Spalding foI
| President, A. S. Marshal for Clerk aud Moody
Currier for Treasurer.
An injunction from the Supreme Court wa:
served on the new board restraining then
| from taking possession of the road.