The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1875-05-25
The New Railroad Difficulty

A short summary of the issue between
Cows. Smith ard Page in the direction
Of the Central Vermont is this, as we un.
derstand it; May l, 1875, when the
books of the Central Vermont were OPEN
ed, twenty thousand shares were sub.
scribed, but only 1850 shares were ia.
ken. The directors last February voted
that the capital stock of the road should
be 100000, or 10000 shares-and
that certificates for fully paid up stock
should be issued on the surrender of those
which were outstanding But such out.
standing stock had not beeD surrendered,
or such new certificates issued up to the
meeting of last Wednesday.
OF the 1850 shares Of outstanding
stock, Vice-President Page and his party
in the management had secured control Of
5000, while President Smith and his
party held 1899, and PSI shares were
not voted on, thus giving Page a MAORI
ty of Col shares, till, just before the
opening of the meeting, the 1850 shares
not before issued were subscribed for by
and issued to James r. Langdon and l..
Mills. This gave President Smith and
his friends heavy majority and they
proceeded to take control of the meeting.
The two tickets for directors were as
follows:
SMITH TICKET.
j. 6. Smith, w. G. Smith St Adams /;
Joseph Clark, Milton; Lawrence Barnes,
Burlington j Il. Langdon, Montpelier /;
j. b. Page, Rutland ; Jacob Estey Brat
tleboro; b. p. Cheney, Boston Jacob
Edwards, Boston Geo. NJ Rice, Wor.
cester j. Q. Iloyt, New York; j. II.
KimbaIl, Bath, Me- Randall Cox, Sa-
lem.
PAGE TICKET John b, Page, Rut.
land Bradley Barlow, h. II. Hoyt, St.
Adams j. W. lIickok, Burlington J
r. Langdon, Montpelier; j. II. VIII
liams, Bellows Falls Jacob Esiey, Brat.
tleboro Il A. Brooks, j. s. Whitney,
Jacob Edwards, VIM. Sobier, Boston
Geo. NJ. Rice, Worcester; +. ii. Man.
dell, New Bedford
1t will be seen that the Smith ticket
retains the old board Of directors with
two exceptions, while the Page ticket
throws the Smiths out entirely. Gov
Pages party claim that this issue Of new
stock was illegal that the treasurer oil
the company stated that nothing, either
cash or notes, had been received by him
therefor before the election Of directors
that the new stock could not he legally
voted on that the meeting at which the
inspectors were elected was held uron
insufficient notice, and that its proceed
ings were irregular and fraudulent The
Page party for these reasons hold that
their ticket was the one really elected
and intimate that they will call upon
some one Of the chaucellors to decide
which is the legal board
But we have it upon good authority
that Gov. Smith is prepared to make a
perfectly satisfactory explanation Of what
M Loo 10 , ,,L
tain rorar which ov-ia~n.;o.. ...:,' - =
the following facts He has been for
some time satisfied that Gov Page has
been working against the present manage.
ment Of the road, together with Bradley
Barlow, +. A Brooks of Boston, aud
others who have already made SO much
trouble for the road that the stock whose
issue is claimed to De fraudulent had
been sold some days before The meeting
and that the money for the same was
deposited iu Boston bank against the
time when the first payment for the Yer
mont Il Canada. is to be made; that
this fact was kept secret from Gov, Page
in order to encourage him to show his
hand, as he did.
We do not know how this explanation
will hold, but, to say the least, it looks a
little singular to see Gov Page working
hand in hand with Barlow, Brooks and
Il. II Hoyt, against whom he has hitherto
been IN apparent opposition.