Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1874-01-08

ment. The managers report was accept
ed and adopted, and ordered to be re-
corded
DIR. j. Y. Dewey inquired as to the
payment of interest On the bonds, and MIR.
French stated that the January interest
was in part unpaid but that provision had
been made to meet it at once. In response
to inquiries by Gen. Pitkin and Mr.. Wells,
it was stated that the coupons of July
were to the amount of $4,000 in the
hands of Mr.. Lyon, as collateral security
for loan made by him. Mr.. Taft inquired
what if this man should suddenly call for
his money? Hon. Charles Dewey inquired
as to the amount of the floating debt
This the president could not state, and the
managing director stated that part Of it
would be Offset against subscriptions that
now stand as unpaid, so that some Of the
$34, 900 subscri ptions standing on the
treasurer's books us unpaid, are Cancelled
really by materials furnished. Mr.. French
said they had done the best they could and
good round Of applause showed the
stockholders thought so too.
Hon John a. Page stated that the whole
amoun5 of bonds executed was 5000.
OF these there had been sold SOLO, 300, and
there were now in his hands bonds to the
amount of So, 100. For the remaining
S1S9, 500 he had Mr. French's receipts and
orders for SCI, 400; Judge Halls for $37,-
100; and Roderick Richardson had $l0,-
900.
In response to Gen. Pitkin's inquiries
Judge Hall stated that forithe $4,000 bor'
rowed of Mr.. Lyon in July, the coupons
the personal notes of himself and French
for $4,000 each, were put up as collateral
The matter of the coupons as collaserals
was not vet understood, and Mr.. Durani
made some inquiries, Mr.. Ferrn STATED
clearly the way in which the matter stood
Mr.. Durant made some further remarks
and the president claimed not to be able
to answer certain questions, as not belong
ING to the legal profession. Col. Boutwell,
said, g if we had a few more legal men
here | declare, we shouldn't do anything
which remark was vociferously applauded
by the meeting The fact that the amount
borrowed for July was $40, 700, was elicit
ed by Mr.. Wells. Mr.. Kinney rose to IN
explanation and started to show that his
subscription wasn't bad debt, but that
the meeting was in no temper for person
al explanation. Gen. Pitkin then read the
report of the board of audit, consisting Of
J. A. Wing, p. F. Pitkin and Samuel
Wells. The report stated the accounts OF
Treasurer Page and Mr.. Fostor, the Clerk
to be correct. 1t also contained the amount
allowed the officers. Some of the items
were to Roderick Richardson as president
$1,000; to j G.. French, for services $1,000
payable in bonds at par; to Joel Foster
services us clerk from 1870, little more
than 1920 in bonds; G. II, Heath. direct
or and counsel two years S679 81 in bonds
S G.. Shurtletf, director one year, 1921
bonds; G.. b. Fessendon. S23S.19, bonds
$50; J. W. Brock, $50, bonds, &c, &c
There Is now a balance due Mr.. French
for money advanced, SlS,149, the interes
on which is unadiusted.
In response to Il question by Hon. Chas
Dewey, Mr.. French stated that he haC
$4,000 in bonds which he held aS securi
ty for $4,000 advanced The auditor.
report was accepted and adopted.
The meeting also voted to have 80
copies of the treasurer report printed.
Mr. Heath reviewed briefly the transfer
nation of the large pile of dirt between
here and Wells River, into a railroad .
motion was made To reduce the number c
nine was none to many, for we want som
to watch, while others pray. The motto
was lost when Col. Boutwell, moved that
board of nine directors he elected n0,C, BIT
gave way to Mr. Wells, on whose motto
resolutions We're passed rs follows; Tn;
the directors fix the salaries of all officer
before they enter on the discharge of the
duties; that all money received shall /
paid into the treasury and disbursed b
the treasurer on proper vouchers as the d
rectors may order; and that no passe
shall be granted, except under regulation
adopted by majority Of the director
Col. Boutwell's motion to proceed to IL
election of directors was then carried, an
Messrs Page, Thurston and Whitcher ~
pointed tellerS.
L.. i { l..