The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-11-05
The Central Vermont Railroad and
the Vermont md Canada Rail-
road.

RESOLUTIONS OF THE DIRECTORS OF THE CEN
TRIAL VERMONT RAILROAD.
AT meeting of the directors of the Cen
trail Vermont railroad company, held at the
office of S. L. NJ. Barlow, Esq, New York
city, on Tuesday, the 2Sth day of October,
a. d. 1878, at 9 o'clock, p. m, the Prcsi-
dent submitted an official communication
from the Clerk of the Vermont and Canada
railroad company, which was read. and is
as follows:
OFFICE OF VERMONT Il CANADN
RAILROAD COMPANY,
ST. ALBANs, W., Oct. 1uh, 1878.
GENTLEMEN: At meeting of the Yer
mont and Canada railroad company, held
at White River Junction on the 10th inst,
the following gentlemen were elected di-
rectors, to witt Bradley Barlow. Francis
A. Brooks, J. y. A. Griswold, Romeo H.
lloyt. James X. Nichols. Edward A. Sowlcs
and Samuel Wells.
And at a meeting of said directors. held
on the same date, the following resolution
was passed
Res0lced, That the clerk of this corpora
ton be directed to inform the receivers and
managers of the Vermont Central and the
Vermont and Canada Railroads, of the or
ganzation of the new board of direction.
and that said directors are ready to receive
any communication they see fit, in regard
to the relations of the Vermont and Can
ada Railroad Company.
am, gentlemen,
Your obedicnt servant
n. G.. STAFFORD,
Clerk.
70 the Receivers and Managers of the Yer
mont Central and Vermont and Canada
Railroads.
After full consideration of the forcgo-
ing communication, Mr.. William Butler
Duncan offered the following resolutions,
which were read and unanimously adopt
ed :
ReWlCed, That it is the desire and intcn-
ton of this company as Receivers and Man
ayers of the Vermont Central and the Yer
mont and Canada Railroads. to discharge
its duties and obligations to all parties in
interest in said property, with fidelity and
impartiality, and to place said property
upon Il permanently healthful and
profitable basis That to secure this
result and to restore il at the
earliest moment possible, to condition
where all its just obligations to its Sect
rity holders may be fully discharged, in
accordance with their legal and proper
pnorities, it is the wish and desire Of the
Receivers and Managers, that state of
harmony and concord should exist between
them and all parties in interest in said pro-
perty-the Receivers and Managers be-
lieving that by united counsels and the
hearty cooperation Of ALL the desired end
and object will soonest be attained.
ReS0lUed, That this Company will be
happy to receive, and so far as may be
practicable, adopt any suggestions which
may he made by the Vermont and Canada,
or by the representatives of any other
class of security holders, looking to the
promotion aud advancement of the highest
interests of the property itself. and will
cheerfully cooperate in any plan which
will best secure harmony Of interest and
economy Of management
ReSOiCod, That this company entirely re-
pudiate the statements made by the pres
idcnt of the Vermont and Canada company
in his late report to his stockholders, re-
garding the character and objects and ulti-
mate purposes. of the Central Vermont rail
road company. That in no sense does it
contemplate speculation, nor has it as Il
corporation, nor so far as is known have
any of its members, in any manner. at
tempted to deprcss amy of the securities of
any of the roads composing the Vermont
Central system nor has this corporation,
nor, so far as is known, any of its members
directly or indirectly, purchased or caused
to be purchased any of said securities. Nor
does this company, either in its capacity of
receivers and managers or in its corporate
capacity seek or intend to make the sys-
TEN of roads under its management, sec
tional or local in its policies-on the con
trary, it is their avowed purpose to so con-
duct its affairs, as to secure the highest
beneficial results to all sections and local.
ties interested in, or accommodated by the
roads under its management, free from
discrimination or undue preference to any,
having in view the ultimate security of the
benefciaries of their trust
Resolred, That fully recognizing the doc
trine, that tho relation between the road, as
"A means of transportation, and the commu-
nifty on its line, as the active agents for the
supply of its business, is one of mutual de-
pendence, and that in proportion as per-
feet community Of interest between the
two the prosperity of both is promoted;
therefore, that it will be the aim and pur-
pose OF this company to encourage and
promote to the fullest extent, every indus
trial enterprise on the line of its road. and
to afford every reasonable facility for their
proper development.
RtSOiCed, That the secretary be instruc-
ted to communicate these resolutions to the
president of the Vermont and Canada com
pany, and to signify to that company, the
readiness Of this company to confer with
them on any subject of interest, tending to
promote the avowcd objects of the forcgo-
ing resolutions, and cordial and friendly
relation with all parties interested.
a true copy of record.
GEORGE NICHOLS,
Sec'y. Central Vermont Railroad Company