The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1872-10-08

and was escorted to the Executive Cham
Der by Gov. Stewart.
The admirable manner in which his
Inauguration vas conducted must have
been highly gratifying TO our excellent
and genial Governor and the dignifed
manner in which Hon. Lyman G.. Ilinck-
ley, president pro tenn, presided over the
Join. Assembly, had much to do with the
decorum and impressivencss Of the occa-
sion.
The vermont Centrai-1Ieeiing OF the
Bondb olders.
BosToN, Oct. 2.
The meeting of the Vermont Central
bond holders was held as advertised, at
Horticultural Hall in this city, at eleven
o'clock to-day. Gen. James S. Whitney
of Brookline, presided Charles +.
Billings, of Newton, was chosen Secretary.
Gov. Smith read report of the trustees,
five columns in length, which gives the
average cost per mile Of the two roads,
the Vermont Central and Vermont and
Canada Railroads, 1874 miles at about
$1,000 or including I'd mortgage at
full face value, average per mile about
S5S,70O. The managers submitted to
any candid mind whether even on the
latter and fairest basis Of computation, the
road-in high condition, with equipments
and valuable real estate and wharf pro-
perty--does not stand at very low aver
age cost.
The statement Of the Treasurer accom-
panying this will give the amount of float
ing debt and cause, together with the re-
sources Of the road. From this report it
appears on the 1st day Of june the total
floating debt was S2,S7S.l64 40, and
available assets Sl,349 ,249.57, leaving
the actual floating debt s1,52S,9l4 80.
This debt consists in large part of defc.
iencies in earnings of the Ogdensburg &
Rutland roads to meet expenses OF rentals
After discussing the National Despatch
and V. ! q c. Cos and New London
Northern lease, the report ends: The
managers caunot too strongly urge upon
security holders the necessity OF dcvisiug
some plan to place the road under corpor-
ate management, u subject which manag-
crs have more than once before urged up.
on the attention Of the parties in interest
The managers would therefore suggest
the appointment oil a committee Of con-
ference from the various classes Of securi.
ties, to meet with them at an early day
aud take the subject into consideration. -
e. G. Rediugtou of St. Johnsbury made
Il speech in the interest of the Vt. AID
Canada stockholders, and f. c. Bailey Of
Boston, expressing satisfaction with the
reports Of the Trustees, and proposing tc
stand by them. He believed il this meet
ing did so, the stock would soon be al
par or above.
A committee of FIVE was appointed rep
resenting the first and second mortgag %
equipment aud Vermont a. Canada bonds
to make arrangements turning the roaC
over to the corporation, also to put a new
equipment loan before the stockholders, tC
relieve the road from temporary embar
rasment.
{ BosroN, Oct. "A very large meet
ing of the stock and bond holders in tn,
' Vermont Central and Canada railway
t was held to-day in Horticultural Hall, t.
: hear the report of the trustees aud conle
: upon the financial condition Of the pro
= peTty. Ex-Gov. Smith, of Vermont, chair
man Of the board Of managers presided
: The report is vouminous, giving detail
d ed history of the several roads unde
T., present management, with receipts ant
expenditures. The managers represen
that their administration has always beef
open to the close inspection Of stock an,
security holders, and that they have en-
= deavored to discharge their duties wit
y fidelity. They believe the property
! capable of meeting the highest cxpecta
tons of their friends The increase O
earnings, which for the last ten years ha
been on an average ratio Of thirteen pc
cent, may be made to continue steadily
The disposal of the present floating deb
. they consider Of pressing importance t
!; the credit of the road. Sholld the note
:, designed to provide for this, for the issu
, ing Of which to the amount of So 500, 00(
&c authority has been granted, be taken u
at once the credit of the road would b
restored and the trust relieved form en-
barrasment. In conclusion the trustee
urge the consolidation of the various il
" terests under corporate managemer
u which seemed to meet the approval Of tn
lc meeting, and committee to confer wit
II the trustees upon the subject was chose
u as follows Vermont and Canada shares
u William Perkins and Lemuel Shaw FIR
,e mortgage bonds, +. c. Bailey secon
l. mortgage bonds, j. W. Converse equiv
C. ment bonds, Ivers Phillips. The NEE
At ing adjourned one week, when it will r,
rs assemble to hear the report of the con
" mlttee.
al I.In