Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1871-01-04
cal OD7 Al


Received on stock subscriptions, $50, us 90
o :. interest account. SO Al
Total, S3l ,227 Al
Paid expenses of survey
ing, $2,I53 Il
Paid land damages, 4,l9l &c
&" contractor. 5000 90
" incidentals, for
books, &c, IA 32-Sl2,S59 ~
Balance in Treasury, $l7 ,26S y
1t was also verbally stated that consider
able sum was on deposit in the Wells River
National Bank to the credit Of the Company,
being collections on stock assessments for
December 4; and it was understood that some
so 900 were also in readiness from the sub
scription Of Montpelier. The stockholders
seemed gratifed with the financial outlook
thus far, and were ready to hear from the
board of directors.
Judge Richardson made fine verbal report
for the directors. He commenced by saying
that when the present board entered upon
the discharge of their duties last August,
they found many distractions in the way of
the enterprise, and much opposition mani
tested both directly and indirectly. The
prospects were not the most lattering, but
the directors set about the work resolutely
and energetically. The objective point was
then, as it had long been, 70 raise $40), 900
by subscriptions ere they could hope to put
the road under contract, and have value
enough in it to float the bonds necessary to
com plete it, Some $4,000 were still lack
ing, and it had to be raised by going over
ground that had already been, it was sup
posed, thoroughly canvassed. We all re
member with what energy and perseverance
Messrs French, Boutwell,, Smith, Foster and
others, worked to gather up the mites that
should make this sum. Personal and urgent
solicitation, in season and out of season,
saved the Montpelier and Wells River Rail
road project from utter failure at this time.
At the same time the surveying of the road
was proceeded with. The engineer employed
in this work was found incompetent and was
discharged.
At length the 9th Of September found the
lacking $40 900 pledged, or 50 nearly secured
that the directors held meeting in Boston,
and determined to receive proposals for build
ing the road Various parties competed for
the contract, and the proposals were made
in various forms, mostly, however, being bids
for doing the work at 50 much yard for fill
Ing or cutting in earth work, 81 perch in
stone or rock work The directors wanted d
definite sum stated for completing the entire
road They seemed 70 have been determined
that the commencement OF the enterprise
should be reasonable guarantee that the
road would be completed. Finally Mr.
Mun-on, a gentleman of reliability and cx-
pcrience in railroad construction, and If fine
business and financial standing, proposed 70
build the road entire for $1,000, 00O-i0o, zoe
! dollars in cash aud GGj 900 dollars in bonds
On the road, and the directors awarded him
the contract. Opinions may differ as to
whether this was the very best proposal pos
sibe to be offered the railroad corporation .
but under the circumstances, we arc quite
sure all Will agree that the directors did a
good thing by closing in with Mr. Munson +
proposition By 1t the completion of the
road is almost, if not entirely assured. ~
render the bonds valuable or rcmuneratiye t.
/ Mr.. MunsJn, Che road must DO finished and
/ put in running order It's entire length
/ Mr.. Munson Immediately set about the
work Of the road, and his progress IL well
known 70 most Of our readers. and ptrticu-
/ larly to those ON the line of the road The
contractor has had much disiutcrcsted @
advice profered him. Busy bodies have
sought his ears as asslduou-ly as dii the
gentleman in black the ear of our good
mother Eve but fortunately. with far less
success The work goes 5ravcly on, and
faith and patience and toll will finally ac-
complish the end sought. Judge Richardson
spoke at some length Of the reasons which
induced HIM to believe this road would he an
indispensable connecting link IN a most yalu-
,ble chain of railway lines. After stating
his belief IN the great advantages likely to
result to this section from the construction
Of this road, he closed with personal allusion
to Washington County too touching and
beautiful to be repeated on paper.
On motion of Mr.. Durant, the report of
the treasurer was accepted and adopted. and
on his further motion the stockholders pro-
ceeded to ballot for board Of nine directors.
The following gentlemen were duly and with
substantial unanimity elected such directors
DIRECTORS.
Roderick Richardson, Isaac y. Hall. James
G. French, Jacob Smith, Joel Foster, .Jr.
|. w. Brown, Charles ii. Heath, Eli ). Pit
kin, George b. Fessenden.
The number Of votes cast was 1893, and
had not an irrepressible owner Of three
shares declared he should now and ever vote
for Col. Boutwell,, one of the active leading
spirits of the enterprise, for director and fo1
everything else, the vote would have been
entirely unanimous. This flattering endorse
ment of the directors was fully deserved by
those gentlemen, for in well-directed labor.
for the success of the project they have been
most abundant, and the community may fee
confident the interests of the Montpelier an
Wells River Railroad are confded to ener
getic, competent and careful hands
Just before the adjournment Of the meet
ing, the following resolution, introduced by
L. L. Durant, Esq, was unanimously