Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-02-07

] y Skilln5S OF DeHtnHt tehutIlu- tHelI
designations A. directors
The election of Directors then took place,
by stock vote, resulting in the election Of
DIRECTORS
Edwin \. Orchard Of Brandon, Peter
/ Butler. George b. Chase and Jacob Edwards
Of Boston, John b Page of Rutland, james
/ H. Williams of Bellows Falls and James W
| Hickok of Burlington Each of these re-
/ ceived Is $40 votes, except John b. Page
who received Is ,s64, while | ga votes were
cast for Lawrence Barnes, and Il for Mr..
/ Skillings
On motion of Mr.. Earle, of Newburyport,
/ the directors We're authorized to accept a
surrender or re-assignment of the steamer
/ Cakes Ames, the Montreal 4 Plattsburgh
| railroad. and the Whitehall & Plattsburgh
railroad, from the trustees and managers Of
| the Vermont Central and the Vermont K
Canada ailroads, and transfer, lease and
7 sell the same to the New York Canada
Railroad Company, or the Delaware Il
I Hudson Canal Company.
Bradley B. Smalley moved that the re
port be accepted. and that the report Of the
I president, treasurer and auditor, together
k with the official proceedings of this meeting
( be printed and distributed to the stock
I holders.
On. Skillings said he hoped that the re-
| ports would not be accepted, because, IN
| his opinion, it was not correct. He.wanted
| it referred to a committee for investigation.
James W Hickok, of Burlington, said he
| had made the subject Of the printed report
| THAT of 1872 a matter Of special study, and
| that the report Of the president made to
DAY was what he should have expected. 1t
seemed to him, after this matter had been
examined. passed on and accepted by the
courts and large number of stockholders,
he thought it foolish TO reopen the subject
| He thought the report was correct, and that
| the only effect of an investigation would be
to iniure the securities of the road
Mr.. Skillings proposed to offer resolu-
ion for the appoiI. tment OF committee Oh
+ We for investigation. He thought that the
e ANIMATION of the advisory committee wa
sn perfcial. If this resolution was mo-
adj opted he should try bill in equity. He
hao large interests, and intended 10 protect
tber I. He thought connecting roads OWED
this { ompany large sum. W hen w
adopt ca the report last year, we wanted t
raise mo- 1ey, but we are in different con
dition no, V, and are not compelled to adop
n rem srt " ithOut examination.
Ia, ,es Il Williams, of Bellows Falls
stated than .as auditor he made a careful ex
amin Ltion VI the books and vouchers, an'
they were &C rrect.
Mr. Skillin 4 said that tho report A. L
the mast wear was correct, but that tn
bonds mentione were augmented by othe
roads
COY. Page expl aimed at length the man
ageRent Of the fin. Nnces OF the rqhd durin!
the mast year. He had no doubt the mo
ton (efMr. Skillin. 81 was made to depres
the stock. Such wa the ayoWed purp0s
with which the repoI oil last year was niaue
| The gentleman was Ut then, mas not nee
since and Is not now, stockholder.
Mr.. Skillings replied that he was stock
/ holder and that he had 10 OBJECT at any ''iil
/ to deqress the stock.
B. b. Smalley thong hit thai, even wit
| Mr.. Skillings' ideas, the report Tor tins yea
| being admitted to be correct, 1t ought to ,
acc .pted. and then, if Thought best, MI
| Skifings can introduce his resolution.
The discussion was furthe continued b
Ne ssrs. Skillings, b. B. ; mslley, j. W
Hit;kok and others, and the report wa
unanimously accepted.
II. y. Skillings moved that Commute
of FIVE be appointed 20 investigate the col
dition and affairs Ct the company from I'll
! commencement OF the trust, with power
EMPLOY clerk at the expense OF the con
pany, and also TO employ an attorney al
expense not to exceed $1,000.
B. e.. Smalley demanded stock vote
Gov Page said that as far as he was cor
cerned he had no objection to an investlg;
ton. lint rather courted one, As it mlgi
finally set the matter to rest.
The vote being taken, resulted as follows
For the motion, I,s52 against the motlol
IA. =.
The committee further reported that 81
teen stockholders voted no and SIX voted we
and so the motion was not adopted.
On motion the meeting was dissolved.
Immediately after the adjournment Il
directors organized by the unanimous Gle
ton of John B. PAge as president
The Herald, from which We condense OF
report, says;
With the same success that the manage
have experienced the past year, we may e
pect that at the next annual meeting q
road will find itself free from all 1iabilitie
; except on its stock and funded debt.
important step was taken, vest. rday,
authorizing the surrender, by the truste
: ! and managers of the Vermont Cen. raj al
Vermont 4 Canada railroads, of the leas
of the Whitehall & Plattsburgh and Mo
' treal L Pittsburgh railroads, and I
leasing or transfer of the same to the Ne
e | York a Canada railroad, or, in effect, to, I
r Delaware Hudson Canal Company. n
action will not affect the receipts of 3
= Rutland road, as the rental received
them was the same that they were compel
to pay to these roads. The arrahgemen
: however, will aid the managers of the Ger
e trial, in their embarrassment, as it is unde
!. stood that the losses which they are said
}, have suffered by reason of the " Rutlar
N lease" were occasioned in connection vii
IS the repairs and running of these road
T. The sale of the steamer Oakes Ames
d which was also authorized, will result
Ie reducing the floating Indebtedness to 4
l. amsunt OF one hundred thousand dollar
/, The increase of some eight per cent. in {
l. gross income of the road, is also graft
ing, and is an indication Of what may
10 expected in the future. On the whole, t
2. Rutland railroad, as well as its lessee
g enter upon new year under fayorst
auspices.