The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-05-01
Vermont and Canada Railroad.

A special to THE GLOBE on Friday morn
ing, gave the general features of the meet
ing of the Vermont and Canada railroad at
Bellows Falls, on Thursday. We find in the
Boston journal full account Of the meet
ing to which we are indebted for some fur
thu particulars.
There were many prominent railroad
men present, and much interest manifested
in the result. The Central Vermont was
represented by ex-Gov John Gregory
Smith, Hon. Worthington c. Smith, Lam
sing Mills and others.
After a statement from j. X. Nichols,
chairman, Of the purposes of the special
meeting, Mr.. Samuel Wells of Boston read
the rules of agreement, comprising the sale
of the Vermont and Canada to the Central
Vermont, after which he, as one of the
committee of directors, pointed out the
principal points of disagreement between
the majority and minority of the board in
regard to the sale, and also stated his views
of the matter, after which he made mo-
ton that the vote upon the sale be taken
number of shares and the votes represent
ed.
Mr.. Hazen Of Hartford, moved an amend
ment, which was accepted, to the effect
that the papers of the sale shall not be de-
livered to the Central Vermont road until
the semi-annual dividend due them from
the Central ermont road on June which
is 800 900, shall be paid.
F. A. Brooks of Boston addressed the
meeting, giving history of the litigation
between the two roads from the beginning
to the present time, and stating the circum-
stances which called for the sale, read from
the record of the previous directors meet
ing to substantiate his story. He strongly
opposed the sale, and spoke very urgently
against 1t, attacking the Central Vermont
railroad in bitter manner, and ended by
saying there was no reason why we should
trust them day or minute"
He was followed by the chairman, who
explained the disputed points advanced by
Mr.. Brooks, and earnestly advocated the
passage of vote ratifying the sale. He
believed the papers offered were the safest
that could be made, and spoke upon the
authority OF the best counsel OF the state
and of Boston TO that effect.
+. o. Somers of St. Adams followed,
arguing against the sale ON the ground of
the poor security to be given them by the
Central Vermont railroad on account of
the previous mortgage resting upon that
road, and saying that after this sale was
ratified the Vermont and Canada road
would stand in the same relation that q
certain preacher did when he thanked the
Lord that he got his hat back from the
congregation after a contribution.
The meeting then went to a vote upon
the question whether the road should be
sold upon the conditions stated. The pa
pers of the salelare, in brief, to the fol-
lowing effect
That all the property of the Vermont
and Canada road shall be transferred to the
Central Vermont road upon the payment
to them of $3,000,0O0 in bonds of the
Central Vermont road, secured by con-
ditional deed of tho Vermont and Canada
railroad bonds, to carry per cent interest,
payable in June and December of each
year.
The vote resulted as follows:
Whole number of votes cast, 81, FAC I;
yeas, 1870 nays, 1856 doubtful votes,