Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1872-10-10

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sl3,9l3.1Io =
Gov, Smith occupied an hour and q
half in reading the report, and at it,
; close Mr., Reddi ngtOn of st. Johnsbury
said he did not represent the first or sec.
ond mortgage bondholderS, but he die
represent a portion of the stockholders
in the Vermont and Canada road. He
did not come to arEaign the managers and
trustees, as he thought the report was an
excellent one. He thought they shoutd
say the road was one of the greatest in
the world, and should be run by a cor.
pOration and not by the chancellor. He
spoke for the stockholders, who shonld
be protected He understood that the
Vermont and Canada road had the pre-
ference over all others, and this he did
not like.
Hon. Edwin c. Bailey said he had
been delighted with the report presented
and the facts (Which he regretted had
not been given he4orel hut these per-
haps wGGid not have been given had the
press moi taken the matter in hand. He
thought the property was a valuable one
and worth immeasurably more than il
cost, indeed S15,000,000 would not put
the property there to-day. He wanted
to see every man who owned dollar of
the stock come forward and help cancel
the Indebtedness, take the property out
of the courts and run II in the name of
the stockholders and by the stockholders.
He had $50, 900 worth of bonds and
stock in the road, and he wanted to See
all merge their securities in one grand
corporation, and he was sure it would
pay. He was decidedly opposed to bor-
rowing money to pay dividends. He felt
sure that in five years the leased roads
would pay, and he thanked the trustees
for the suggestion of a conference of the
different classes of security holders for
the purpose of consolidation. and he
hoped to see it carried out
Mr.. Edwards of Keene said il was no
new thing to see a railroad in difficulties
and the condition of the roads represent
ed at the meeting, was not astonishing
to him. lie was satisfied that the views
of the trustees as to the future success of
the roads We're sound. and be hoped to
see the committee suggested bv the trus-
tees raised, and he moved that Messrs.
William Perkins of Boston, Lemuel
Shaw of Boston, Ivers Phillips of Wor-
cester. F. \. Brooks of Boston, and
Seth RemiS of Watertown. he appointed
a committee of conference with the
MIR. Bailey thought the interests of the
various classes of security holders were
so great that they should be more fully
and he hoped to see two
from each class of securities on the com
mittee, and that the chair would appoint
a committee Of five to nominate such
of ten as he had suggested.
Gov. Smith considered that a large com
mittee would rather embarass the trustees
as prompt action was necessary, the leg
slature of Vermont being now in ses-
sion. while it would not meet again for
-wO years. While a corporation was be-
ng formed there would be much to do
md this would be work for both the
and trustees. Gov. Smith |
the people of Vermont for the
'aith they had ever shown i'm the Yer
mont Central road. and said when ar
had been felt they b
Llways come from stockholders out
State. He spoke of the great futur
he road from its direct connection
he west, and hoped that the elas
which corporation management
i've would be given, thus to cna
Ompete with other roads eXte
he west.
Mr.. J. X. Nichols thought IT,
we're so large that great care
aiken in the selection of a
and he moved
littee OF five he appointed a.
ominate a committee of
tx gentlemen
AS the motion Of llr. F
ore the meeting. the vot
is proposition, modified
royide for the appOintm s
alton committee, and r.
lOusly, when the chs
lessrs. Il. G. Bailey,
,emuel Shaw, Ivers
'rooks, as that COP
During the abscT
lr. c. G. Coffin
leeting on the a.
ermont Centre pL
'au running u init
)uld be done fBoet'
the grain ,-iHaDtae1o-
| that the road b,sSe'
i be done I'm The ao
OSt ccOr ol HaDo. ID
,ad VIZ ajAeaper yor' tr'
lies graf. Of The ~
her over - ransnx
Try + soLnicaJ '"e Yer
.ncG o. gOiDo The
T. onser 81, 0 "a
! lay I'D ", ring
on ubiet ancisc
orr co1ub,a1 ould ye
,rrn tbd The rack to
Win ,n,n,onta and ,o, On nonlin
1ne First :, ,erkip zee on gen
Hyerse eorfS Canada ;nier' IN.
AZ Ivers' I05 and nterel
TIE eb., the the Eao,o,;n,dholder
m ine encours hiliips, iaa,phent aaa b