The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-07-29

tDen Teuu, lully SuetdiuihH WV L "bV, oh"
implicitly censuring Mr.. Chase for his
speech and charges.
Mr.. Goodwin said he referred to the
"little pamphlet as matter Of history,
and not IN the spirit of criticism. Had
the annual meeting adjourned for day
several years since when President Page |
was detained at Halifax, on his return
from Europe, the condition of the Rutland |
railroad would be far better than it is to- |
day However, much this delay might |
have panied the presidents mind he knew |
not, but it cost him (Goodwin) $1,000 in
cash. He trusted that the proposition for
a public statement would not be pressed.
! Mr.. Parsons then withdrew his demand |
for a statement of the securities, and the
meeting proceeded to the election of
| board Of directors for tbeyear ensuing.
The president appointed as tellcrs to col
| lect and count the votes, John A. Good
win, Lowell, Mass. Henry W. Richard
son, Boston Joel M. Haven, Rutland.
At this point gentleman from Lowell
asked If proxies had not been procured in
the state of Massachusetts, by the officers
of the company. He had seen letters from
Joel M. Haven, the treasurer of the COM
pany asking for proxies also making
statement that this was very important
meeting. The president, said he had pro-
cured no proxies nor instrumental in pro-
curing proxies in Massachusetts,. The cir
cular of Mr.. Haven was then read. The
Lowell gentleman contended that under a
recent law of Massachusetts, proxies OBJ
tanned by officers of a company were not
vailed. The meeting could see no force
in the point raised, in as much as the Rut-
land railroad company was a Vermont cor
poration, holding its meeting in Vermont
and the proxies were admitted. The
president said that Mr.. Haven stated that
these proxies would not exceed 1000 shares
and no harm could come from them.
While the votes were being counted
Gen. James s. Whitney of Boston, adj
dressed the meeting in commentator of
the action of President Page and the board
of directors in the main. Mr.. Whitney
said he was the only member of the board
of directors who had opposed the consolida-
ton from the outlet. To assume eight
millions Of Indebtedness would wipe out
the stock of the Rutland road. From the
first Mr.. Page had demanded a settlement
of the trust by the receivers before any
steps toward consolidation should be taken
The speaker did not believe the accounts
tory consolidation. He believed the
assets of the Rutland company were wisely
, and prudently held. We are litgating TO get
back the road. The Central Vermont
, we made the tender to abate $1,000
, which abatement the lessees refused to ac-
cept and now they refuse to pay any
thing and undertake to checkinate the ac-
ceptances already given by them for
: payment of rent. They claim to be
losing $300,000 annually, and still
they hold our road. We have verbally de-
manded the road some time since, and have
now served legal demand going before
the chancellor with a full statement of the
facts and ask him to give us back the road.
They should pay us $2Sl 900, now due,
and the tent fast accumulaling, or give us
= the road. The manner in which the Cen
e | - :. 80 -ar,iAlv do
preciating its rolling stock and road bed
Gen. Whitney proceeded to brief review
| M hp n ,f hn ~
, past twenty years, and the debt it mad &C.
- cumulated, and asked "Do you want tc
merge our road in theirs ?" 1t is the fixed
u purpose of the directors to get our road
back and make the best settlement with
trustees we can before we are swamped in
u this eternal litigation. The receivers OF
the Central have already lost $500, 600 il
l. the trust. Unless we take hold of the
matter now, our all may be lost. First OF
all we must take our own road. Some OF
our directors have taken stock in the Cen
trail Vermont with their own money, not tc
speculate, but TO protect you. The parties
/, interested IN the Rutland and Vermont and
= Canada roads had sufficient stock to con
troll but for the issue of stock on some
> body's notes. The Page party, or what
,, ever you may call them, he expected wout
win in this contest. We propose to gel
our road back. Some one asked If the
road was wanted back il the rental wa.
paid. Gen. Whitney replied "No." II
= the rental was paid, it would be better
: | than to take the road hocL
The question was asked why the Central
T, objected to paying the rental. Gov. Page
raplied that the reported objection was
that IN taking the lease of the Rutland
E road Interpretations were made as to the
Indebtedness of the Rutland railroad. That
was a question with which the Central had
, nothing to do. The Rutland road must
, pay its own debts. 1t was also alleged
that its earnings were also msrcpresented.
Gov. Page further remarked that the
old Vermont Central has got to be used up in
any event, and the Rutland road is not in
danger until after the Vermont, and Canada
and Central are both absorbed. The in
debtedness of the trust was fully seven
, millions of dollars. He said he had
, no doubt of getting the Rutland road back
The committee appointed to collect, sort
and count the ballots for nine directors
have attended to their duty and beg leave to
report:
Whole No. shares vote.................. 33,914
Necessary force chosen. ............... 16,95S
!. Jacob Edwards. ......,............. 80 IA
4,