Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1873-01-01

" ill IT Pay Tie end sought to be &C
compli8lei By the movers of the project to
sell the stock of the Montpelier and Wells
River Railroad, belonging to the town of
Montpelier, s. far as we understand it, is to
place a certain amount of stock over and
above onc-tenth of the whole belonging to
SAID town, where 1t can be represented by
votes in corporation meetings. The law pro-
yides that - in all meetings of the corpora
ton each member shall be entitled to one
vote Tor each share held by him; provided
that he shall not be entitled for any vote for
any shares beyond one-tenth part of the
whole number of shares of the stock Of such
corporation
The town of Montpelier, We believe, owns
little less than one-half of the shares of
stock OF the Montpelier and Wells River
Railroad, but of course can vote only on
0ne-tenth Of the whole. If the whole num-
Der of shares, for instance is 4 900 and Mont
can only vote on 400, leaving LOGO shares
which have no vote.
This brief statement may perhaps account
for the motives actuating the getters up OF
the meeting. The town of Montpelier may
not be asked to make bona tide sale of its
stock, or to put it beyond its reach and con-
troll, but it may be urged to so place it that
each share may vote in the interests of the
town, thereby giving the town more
weighty voice and influence in the corpora
ton.
We do not say that this Is the motive
which has induced this movement and should
much prefer TO think that it is not, for whilst
Montpelier is justly entitled to all legitimate
advantage which the town may be able to de-
rive from the preponderance of its own stock
together with the added stock of individual
citizens, we do not believe that any evasion
of the law, which would b. an evasion of the
original compact entered into with othel
towns along the line of the road, however
remote or well concealed, would work ad
vantageousiy to Montpelier interests 10 The
end.
J One Inducement held out to the smalle
towns along the line of the proposed roa(
was. that their voice should be both hear(
aud telt IN its management and direction
and as thu road, If 1t exists at all, must exist
By full recognition of the community in
terest that created it, would not soun(
policy as well as a due regard for good faitl
dictate an adherence of all cts that woult
tend to localize controlling influence or ere
ate combinations adverse thereto ?
As the warning for the Sd inst coult
not well explain itself, and as the siguers o
| the petition for it, do not seem to be able
or are not inclined to, Of course we are still
| left to conjecture as TO what is really being
attempted. But one thing seems to be quite
certain, Montpelier has the power of choosing
whether she will remain in position in
this matter, to be the recognized, and not
only accredited but well supported leader il
completing and carrying on this enterprise
or whether she will force combination
against her, detrimental to all interests and
more especially to her OWL. There is liz
tie danger that the town will do foolish
thing, but there should be an expression
that will Ie-afhrm her good faith to her
neighbors, sufficiently strong to overcome
any suspicious that may have been aroused
by movement which to say the least has
some Of the characteristics of a ring"