Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1871-11-02
COUNTY NEWS.


MASSACHUSETTS CENTRAL RAILROAD.-The
third annual meeting of the Massachusetts Cen
trail railroad company, held at West Boylston
yesterday, was quite largely attended. AT least
fifteen towns were represented, including the
twelve which own stock in the road in their cor
porate capacity, and by over one hundred and
fifty persons. The report of the directors ex-
hbited most gratifying state of affairs, reach
ed by most earnest and persistent efforts on the
part of the friends of the enterprise, which has
been carried on in the face of much severely
trying opposition from several powerful sources.
1t is now believed that entire success will crown
the efforts made for this road, and its early COM
pletiOn will be realized. The proceedings of the
meeting were entirely harmonious, resulting in
the re election of the lastlyea'S board of direc-
tors, by a stock vote of 1916
The people of West Boylston manifested their
interest on the occasion by preparing free col
lation at the the town hall for the stockholders;
Mr.. Henry Pierce being entitled to the special
credit of a sumptuous entertainment of the
board of directors at his own residence.
The following officers were elected:
President-James NJ Stone of CharlestOwn.
Secretary-James Draper Of Wayland
Directors james NJ Stone of CharlestOwu, James
S Draper of Wayland, Chas Cutting of Boston,
Thomas Brigham and Geo HoughtOn of Hudson, j
Edwin Smith, Wadsworth and E Shattgok Of
Northampton, ii Tupp Of Rutland, and Joel
Hayden Of Williamsburg.
The directors reported as follows:
The directors heartily congratulate the stock
holders of the Massachusetts Central railroad
company that the difficulties which always at
tend the starting of a new and Independent rail-
road enterprise, and the obstacles which have
been with special proluseneSs thrown in the way
of this one, have substantially been overcome or
removed. There has been much opposition, as
unwiSe as it has been INSCRIPTIONS and per-
siStent. But there is room enough in Massa-
chusetts for a very large additional develop
ment of productive industry and prosperity by
the wonderful stimulus of new railroad enter
prise; and the existing railroads, together
with the interests of the several lOcali-
ties upon their lines, will very soon find
that the increased business, wealth and popula-
ton, which the Massachusetts Central railroad
will bring to the towns of central Massachusetts,
will so add to the general prosperity, and so ex-
tend the intercommunicGtOn of the people and
their business, that all sections of the state and
all the existing lines of railroads will share in
the benefits conferred by the new railroad.
Since the last annual meeting charter has
the railroad into the cty of Boston. This char
ter is to take effect upon its acceptance by the
company. The consideration of its acceptance
was not brought before the company in the call
for this meeting, as the directors judged it best
to defer it to a special meeting which it will
probably be eXpcdicnt to be hereafter called.
The subscription to the full amount of three
millions of dollars for the capital stock was
completed in June last, principally through the
determined and persistent efforts of the enter
prising people of the towns on the line of the
railroad, who, having once put their hand to the
plough, would not turn back in the furrow, and
who have not hesitatcd to put forth all possible
efforts and make all possible sacrifices, TO Sc.
cure the success of an enterprise so important
to all their several localities. Upon the compile
ton OF the subscription, the directors made an
assessment OF twenty per cent, payable on the
Sd Of August, the payment Of which, on each
and every share of the whole capital stock is,
by the law OF Massachusetts, a prerequisite to
the commencement of the construction of rail-
road. just as the assessment became due, and
when the Indications of the intentions of
the subscribers led to the hope that the
prompt payment of the assessment would
enable them to commence the work OF building
in the month of August or early in September,
it was announced that the treasurer OF
Northampton, who was by the vote OF the town
directed to pay the assessment on the SubScrip-
ton, had decided to refuse to execute the vote
of the town. He raised sundry questions as to
regularity and validity, not only of the sub
Scription of Northampton, but of the subScrp-
ton of several other towns, and upon this claim
cd that the company had not made a legal
assessment. This position, taken by the
treasurer of Northampton, at once paralyZed
the power Of the directors to proceed with the
collection of the assessments. The town of
Northampton, after considerable necessary de-
lay, finally appointed a committee gifts citizens,
and instructed them 10 pay the assessment if
iuVpStiuDtiOn thpV ghOul1 find that
the company had made legal asses
ment The committee properly decided that,
after so many questions had been raised and so
widely discussed, they would not be justified in
paying the assessment or in refusing TO pay the
assessment without a thorough investigation.
They accordingly employed able legal counsel
to aid and advise them in their investigation.
This investigation involved not only the SUI.
fciepey and validity under the law Of the North
amptOn subscription, but also the validity and
legally binding force OF each and every sub
scription to the capital stDcki for the ground
was correctly taken by the committees legal
advisers, that unless there were legal and valid
subscriptions to the full amount of three mill
lions of dollars, the assessment was not legally
made The directors opened the books and
papers Of the company freely 10 the
committee and their counsel, and gave
them full and complete information of
its position and affairs. The counsel of the
committee, after this carful scrutiny, advised
them that the company had the full sum OF
three millions of dollars of valid subscriptions
for capital stock at the time the directors voted
the assessment, and that, therefore. the ass
sessment was properly made, and that North
amptOn and the other subscribing towns and in
dvduas were legally bound to pay their sew,
eral assessments. Under this advice the North
ampton subscription was paid, on the Dad of
September, and the obstacle which had for
time suspended the action of the company, was
then removed, Since the 2al of September, the
payments OF THO assessments have proceeded
with reasonable promptness. OF the twelve
subscribing towns, all have paid except the town
of Boyston alone, whose subscription is S27, 500.
OF the subscriptions ofindiyiduals, there remains
glBqid the assessments On one hundred sharca
only fhe DIRECTORS confidently expect, aud if
necessary, effective steps will be taken to en-
force the payment of tie assessments of these
few delinquent subscribers within few days,
and that they will be thus enabled to notify The
eOntraUtor, Atr. b y, sunsob, 70 proceed with
his work under bis CONTRACT. Mr.. Munson is
entirely ready to commence as soon as notified,
and it is proposed TO push the work to CON
Clqsion within the two years WHICH his contract
alloys gr tue eHtlre iompletion Of tie rail,
road.
The directors take this opportunity to con-
graduate the stockholders and the people of
Massachusetts upon the progress which has
been made in pushing forward 20 the now ass
sured success OF great public improvement,
against powerful and persistent opposition such
as no other railroad enter prise in Massachusetts
has eyer surmouuted.