Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1873-01-08
The Railroad Needing.

At the annual meeting Of the Montpelier
& Wells River Railroad, yesterday a live
ly canvass was made for the choice Of a
new Board Of Directors. The stock was
very generally represented, and what prov
ed to be the winning ticket was elected by
an average majority Of more than two to
one. This result was produced by a geuer.
al concentration Of all the stock owned
outside Of Montpelier, to which was added
a portion Of the stock individually held 10
Montpelier while only portion Of the stock
owned by Montpelier in its corporate ca.
pacity, under the provisions Of the general
statutes, could be voted on.
40 effort was made to construc the
action of the stockholders as an attempt to use
the advantage which the law gave them to de-
privc the town and citizens Of Montpelier Of
their just rights in the management and con.
troll Of the corporation. But We are unwilling
TO believe that yesterdays action is liable
to that Interpretation. In the first place,
Judge Richardson, who represented the de-
ieated party, received but two-,hrds OF
the votes which Montpelier aud its citizens
we're entitled to cast How, then, can his
defeat be set down as a slight upon Mont
peier2 In the next place, our town has
just as many directors as it had before
the only difference being that Messrs Brown
and Smith have been superseded by Messrs
Brock and Ileath-Mr. Brock, the only new
candidate upon whom the minds Of our peo-
pie could in any just sense be said to have
conferred, receiving an almost unanimous
election. The only change, so far as location
is concerned, was superceding Judge Rich
ardson, resident Of Boston, by G. NJ
Weeks, Of Woodsvillc, village across from
Wells River like the Berlin-side from Mont
pelier, where some $4,000 of the stock is
owned, aud where our road will connect
with the Boston, Concord and Montreal
road.
No. There are other and better reasons
for yesterdays action. While all coacede
the highest personal integrity and financial
character aud influence to Judge Richard
son, and freely acknowledge his valuable
services in contracting and putting the road
10 the way Of construction, and approve Of
bis general administration Of the finances
there is yet general belief that his age,
habits and constitutional caution-bordering
sometimes upon timidity-un6t him TO be
the pioneer of such an enterprise as this :
that more direct personal superintendent
Of the work-more vigor in its prosecution,
and a iyclier faith in its success, would ere
this have enabled US to rejoice in its full
completion.
Moreover, and more especially, as the
road approaches completion, it becomes a
question of practical and controlling in.
terest-what shall be done with it? On
the one hand, Judge Richardson nay be
regarded as the advocate and representa-
tive Of the proposition to lease the road
If leased, all that would be expected would
be to meet the interest on the bonds. This
would wipe out the stock at a single stroke
Of the pen. On the other hand, the new
board are firm in the determination TO ad-
here to the recorded vote of the corpora
ton, to run the road by and in the interest
of the stockholders. Plans are maturing
whereby rolling stock may be procured,
and all necessary arrangements made
for putting the road to active use the
moment it is completed And this will
be done with the firm conviction that
such a course will best subserve the inter-
ests of the stockholders on the line Of the
road, so far as business is concerned, and
also that, by the utmost economy and vigil
liant supervision, not only the interest on
the bonds may be provided for, but mate
rial value for the stock be ultimately Sc.
cured. This view is sustained by the best
railroad men 10 the region, and certainly is
one which commends itself to the town oil
Montpelier, as by far the largest stockhold.
or in the corporation. This ast-named
consideration, in our judgment, had much
more to do with yesterdays transactions
than any desire to overslaugh Montpelier
The new men added to the board are al
excellent selections, and are entitled to tn,
implicit confidence and hearty support of al
interested. Let the board have nothing bu
words Of aid and encouragement in pressing
the enterprise to speedy and successful
completion.
1t is proper for us to add that the strict
ures of which Judge Richardson complains
as appearing in the WArcHMAs & JOURNAL
last summer, were designed to be NOR
of general character, as indicated in thi
article, than as charging any specific neg
lect of duty and yet so far as they wer
in any sense specific, they were SO full
sustained by those possessing the best pos
sible means for information, that we hav
never felt quite at liberty to modify them
Our columns have always been open t
Judge Richardson for explanation.
Editorial Ignorance.