Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1872-10-11
The Vernon. Central s.eesae;as-. usr.iss.
At the close of the report Of the managers
remarks were made. a follows.

I
mont x Canada, and the Vermont Central.
and of all interests connected with this great
th0roughtare; | suppose if we have anything
| to say ON the subject We should say boldly
in reference to our own interest. ! 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 NJ specific charge to
| make against the tn -ees, yet there are
some things in connect ! with their report
| that | cannot understand They call me
Vermont old fogy, know, and confess
that am one. But have learned one thing
for all that, and it is that you can never pay
Il debt by borrowing money to pay the in
terest Loud applause. am not finding
! the least fault with the report, We ought to
stand ND here for it. but do think that the
road i, worth more to-day than Is here
stated, and if we aid this road and stand up
for it and sustain it, 50 that 1t 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 tins
country. / care but little about il my
self; have had but little to do with it, but
| look across the street and behold wO-
man, sightleSs almost, that has got some of
| that stock 1t has been represented 10 Us
| that the Vermont and Canada stock had
preference over everything else. When We
voted to issue $500 900 more of stock.
making - 600. 900 in all. | received no.
tee and was told that it would take pref
erence over any other stock. Now believe
the trustees to be everything that is honest
! of purpose. that their integrity cannot be
| questioned. but believe they may have
| erred in Judgment Well, we have got
| into this spot. and we have to get out Of It
and get rid of and separated from our chan
celorship. don't want to get into a litiI
/ CATION because ii Will cost far too much.
| do not represent large amount, but some
| of nv friends of the Vermont and Canada
/ road wanted me to come down here and see
about this matter think that just -
| long a a man can yet 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. II there is any
/ thing wrong the man who owns an interest
! Is to blame for not looking after hi, inter
| est So if matters have gone wrong with
his road. we must look to the Stockholders
and not u the men who have been doing
their work for them. Let Us find ~, fault
with oar trustees and managers. bat look
after our own interest, and it will al hr
well
REMARKS on MR.. BAILEY OF BOSTON.
Mr. BAILEY can only say. sir. that |
! have been delirhtcd with the report which
the president Of the trustees has presented %
Us. which has very fully and explicitly set
forth the facts which We all ought % have
known lone AGO. and iftbey had been known
a. thoroughly a, they are now believe that
the criticisms of the public press would have
been avoided. Anv gentlemen who as
sume- "a public responsibility must expect
that the preS, will look after them. and they
must NOT find fault if they do 50. think il
ha, been good thing for Us. for our good
GOV. smith has come down here and t.ld Us
the whole story. Now. sir. this property is
worth all 10 cost and % ereatdeal more. and
think it Is for the interested ever, man who
owns q dollar of the stock t. stand ll that
road and see itthr1ugh. Aup.au-e) Let
this committee or conference, ie appointed.
and let all theyari. r- securities be merged
into one security. or vlumav call II -tack. If
vou please. and Jet IL be managed Iy thcpel-
pie and run In their interest. and hayc no
doubt that all the litigation pf the Vermont
Central will be ended / believe that the
honorable men w.o compose the Board of
Mana rers have had no personal OF private
end i'm view They have watched The de-
velopmeni of the property for a long time
NINTH il ba. r.t 10 he q y,ry yalr..bI. prouor-
N. worth. believe. SI5. 900. 900. ami earn
inr something Ike = 100000 yearly.
tbink r. f., i,,- fhr interest of every man y, l,.
owns a dollar Of tbe -tack +, stand Lr that
road and SEQ it through. tAuplaa-e.) Let
this committee of conference D.. appointed.
and LET All the various securities Do. merged
into on, security. or v,l may call il -tYcs. If
y,u tIes-a and LET il b., man, .-..l l, thence
lie and run In their interest. and have n,
doubf tlat an the Iii -l;i,n of the Vermont
Central win b, endrI believe rh9t the
honorable men who commas. the Beard of
N,na,,ers Iav, had N, personal OPP n-i,afe
M .r f h.