Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1872-10-18
The Vermont Central Stockholders Meeting.
At the close of the report of the managers
remarks We're made, a follows:

At the close of the report of the managers
remarks We're made, a follows
SPEECH OF MR., EEDDINGToN.
Mr.. Redington. Of st. Johnsbury, VI,
said [ suppose we have come here to-day
representing all the interests Of the Yer
mont & Canada, and the Vermont Central,
and Of all interests connected with this great
thoroughfare; | suppose if we have anything
to say on the subject we should say boldly
in reference to our own interest. l have
not come here to say anything in reference
to the interest Of the first mortgage or the
second mortgage bondhOlders, but / have
come here to represent the interest Of some
Vermont Il Canada stockholders, and / feel
that although we have no specific charge to
make against the trustees, yet there are
some things in connection with their report
that cannot understand. They call me a
Vermont old fogy, know, and L confess
that | am one. But l have learned one thing
for all that, and it is that you can never pay
a debt by borrowing money to pay the in
terest. Loud applause. | am not finding
the least fault with the report, we ought to
stand up here for it, but do think that the
road Is worth more to-day than Is here
stated. and if we aid this road and stand up
for it and sustain it, 50 that it can be made
a corporation, and taken out Of the hands OF
the Chancellor, it will be one of the great
est roads in the world. We have the OppOr-
tunity now of helping great thoroughtare,
and the greatest main road IN this
country. | care but little about 1t my
self; / have had but little to do with it, but
[ look across the street and behold a wor
man. sightless almost; that has got some OF
that stock. 1t has been represented to US
that the Vermont and Canada stock had
preference over everything else. When we
voted to issue $500, 900 more Of stock,
making, SO, 900 600 in all, L received no
tice, and was told that it would take pref
erence over any other stock. Now l believe
the trustees to be everything that is honest
of purpose, that their integrity cannot be
questioned, tut believe they may have
erred in Judgment. Well, we have got
into this spot, and we have to got out OF 1t
and get rid of and separated from our chan
cellorship. don't want to get into a It'll
cation because it will cost far too much. l
do not represent Ia~ge amount, but some
of my friends Of the Vermont and Canada
road wanted me to come down here and see
about this matter | lhink that just 50
long as a man can get his eight or ten per
cent, and can get it readily, he gives very
little attention to the directors or the treas
urer. and the first thing he knows he Is
looking after his profits. If there is any
thing wrong the man who owns an interest
is to blame for not looking after his inter
est. So if matters have gone wrong with
his road, we must look to the stockholders
and not to the men who have been doing
their work for them. Let us find no fault
with our trustees and managers, but look
after our own interest, and it will all be
well.
REMARKS OF MIR. BAILEY OF BOSTON.
Mr. BaiIey-I can only say, sir, that [
have been delighted with the report which
the president Of the trustees has presented to
ne which has very fully and explicitly set
firth the facts which we all ought to have
known long ago, and if they had been known
AS thoroughly as they are now | believe that
the criticisms of the public press would have
been avoided. Any gentlemen who as
sumes public responsibility must expect
that +he press will look after them, and they
must not find fault if they do so. | think II
has been a good thing for us, for our good
Gov. Smith has come down here and told US
&c whole story Now, sir, this property Is
III rtb all il cost and great deal more, and
wonk it is for the interest of every man who
thins dollar of the stock to stand by that
ow and see it through. (Applause.) Let
roa committee of conference be appointed,
and let all the yarit US securities be merged
into one security, or you may call 1t stock II
Won nlessc. and let it be managed by the peo-
ME and run in their interest, and have no
aoubt that all the litigation of the Vermont
Tantral will be ended. | believe that the
honorable men W. compose the Board OF
Managers have had no personal or private