The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-01-28

WHEREAS, Inc tendency OF the issue OF
dividend scrip convertible into the eight
per cent first mortgage bonds has been to
depreciate the value of said bonds, and ne
gotiations are to be made for the sale of
The remaining $500, 1000 at par;
Resolred, That the directors be requested
to issue the scrip for future dividends on
preferred stock without the convertible
privilege, bnt in all other respects rs
! heretofore.
Objections being raised, the resolution
was withdrawn by Mr. IIickok to give
opportunity for the introduction Of one by
| Gen. Whitney, who introduced the follow
ing
/ Tot6d, That the scrip dividend to he
! hereafter declared be made convertible
| hereafter as heretofore into the eight per
cent bonds of the company at par, and
that scrip shall be entitled to an interest at
six per cent. thereon until converted or
paid
This resolution was unanimously adopt
cd by the meeting.
The clerk then read that portion Of the
call which referred to the changing of the
bylaws of the company 50 as to hold its
annual meetings in July instead of Ianu-
airy, and the same was brought before The
meeting for action.
The President stated that the article in
the call had been made at the suggestion OF
several stockholders last year
Gen. Whitney expressed himself in favor
of the proposed change the stockholders
would be Differentiated at that season and
more disposed to take scrip instead of cash.
than they were now. Laughter He
therefore offered q resolution amending the
bylaws to the effect that the annual meet
ngs should be held in July.
Mr.. Everett Of Boston moved to amend
the resolution so that the next meeting of
the company should be held the last Tues
day in July, 1874, and that when this
meeting adjourn it shall be to meet at that
time.
The amendment of Mr.. Everett was
adopted as regards the next meeting. The
question then being on the amendment to
the bylaws, making the annual meetings
occur in July, stock vote on the same
was demanded Messrs. Smalley, Everett
and Ravens were appointed as tellcrs, who
announced the vote rs follows: yeas, &C.
400; nays s9t. So the bylaws were 50
amended.
Mr.. Everett then moved that the election
of directors of the company he deferred to
/ the next meeting in July.
Gen. Whitney spoke against the motion
as he saw no good reason why they
| should not choose the directors at this
meeting. The new board of directors
| could hold over eighteen months as well "a
the present boaJd
Mr.. Goodwin said the proposed postpone
mcnt was practically an election of the PIC
sent board for six months longer and
favored the motion
Gen. Whitney called for n stock vote
which resulted as follows: whole number,
2l,9S3 yeas, 1894 nays, s36. SO the
election of directors was deferred till July.
On motion the meeting adjourned
Among the prominent stockholders pres
ent were James S. Whitney, Peter Butler,
Jacob Edwards, j. Mason Everett, George
NJ Barnard Boston Robert Earle, New
Bedford Timothy Corey, Brookline Il,
H. Dcwng, Revere NJ. Z. Hale, New
buryport; Capt Samuel Hutchinson,
Salem, Mass Mr.. Goodwin, Lowell
James w. Hickok, Burlington James II.
Williams, Bellows Falls
The utmost harmony and good feeling
prevailed. The present board of directors