Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1876-02-09
The Wells River Railroad Troubles.

AND rowu,s-Two RECEIVERS APPOINTED
rHE tNCNcrIoN on BOTH PARTIES CONTINUED
Pursuant TO appointment the various parties
concerned in the contest for the control Of the
Montpelier Wells River railroad met at st.
lohnsbury, last Friday, before Chancellors Ross
and Powers
The morning train from Wells River brought
a large number Of prominent gentlemen residing
at Montpelier and other towns on the line Of the
road aud Mr. Walkers little hotel was filled to
ovoraowng From Montpelier were Mcssrs
James r. IAngdon, GcorgeC. Shepard, c W. Will
lard, d. +. Fifcld, James W. Brock, l.. Bart
Cross, Charles II. Heath, f. v Randall and Car
isle j. Gleason from Plainfeld, Messrs S. C.
Shurtlcf and Willard Martin; from Marshfeld,
Messrs George Wooster and George \. Clark,
from Groton, Messrs Isaac n Hall and Clark
Mr.. Sortwell came down from Newport on the
accommodation train in company with Hon John
L Edwards, one Of his counsel
STATE OF THE LITIGATION
In order that the public may better understand
the scope Of the discussion, will give general
statement of the various legal proceedings in ref
erence to the road now on foot: First, there is
bill Of foreclosure brought by Mr. u. H. sortwell
and other bondholders, asking for the ultimate
possession Of the road, and for the appointment
Of a receiver, while the suit is pending second,
there j. bill in behalf OF the town of Montpelier,
James Il. Iangdon and other stockholders of the
road asking that d r. Sortwe joel Foster Jr.
C.. j. Gleason and the other purchasers OF stock at
the famous sheriff sale in the Wells River depot,
be restrained from voting, in accordance with
which Chancellor Powers granted a temporary
Ia laf
flied at Iydcparl, so as 10 prevent all stockholders
from voting, and was then continued; third,
bill brought by Isaac n Hall and joel Foster. Jr,
asking that the new board Of directors
headed by Hon Charles II Heath, be restrained
from taking control Of the road, in accordance
with which an injunction issued and is still in
force In addition tn all these suits, at the hear
NC before Judge Ross, few weeks ago. Judge
Poland and Col. Randall solicitors for Mr. n c.
Munson, who contracted to build the road, ap-
peared and gave notice that Mr. Munson had
large claim against the company for unpaid work,
which was in the nature Of a prior lien, and that
he asked to be made party defendant to Mr.
Sortwelrs bill Of foreclosure; and Mr.. Nathan
Matthews, of Boston appeared by Mr. Ffed and
gave notice that he had claim on large amount
Of the bonds held by MIR sortwell, and should ask
to be made a party to the bill Of foreclosure
Since that time Mr. Sortwell and Mr. Matthews
have come together In some way aud at the hear
ing on Friday acted together The counsel forthe
various parties are as follows: for the town Of
Montpelier and other stockholders, Hon b. + H.
field and Hon Chas. II. Heath; for the Montpc-
lier Wells River Railroad Company as repre-
scented by the old board, OF which Hon Isaac
n, Hall is president, Mr. s. C. ShurteG ftn Mr.
d. h Sortwell, Hon. C. W Willard and Hon
John l., Edwards; for Mr. Nlnnson, Hon. Luke p.
Poland and Col. +. V. Randall. Mr.. Gleason APP
peared for himself, being one Of the defendants
enjoined from voting on the stock OF the road
OPENING or the HEARING.
Chancelors Ross and Powers took their seats in
the parlor Of the st. lohnsbury House, at two
o'clock Some discussions took place in regard TO
which Of the many subjects before the conrt
should be considered first and it was decided
that the question Of receiyership should take
precedence. This decision, however, was not
very strictly respected, as most Of the counsel.
when on their feet discussed all the subjects
which concerned their clients and freely relieved
their minds before sitting down. In this account,
1t being impossible TO give verbatim report In
the space allowed, we shall give special promi-
nence to the arguments Of Messrs liiield and
Willard, as each went over the entire ground on
their respective sides, and from reading their ar.
guments we can get good idea Of the merits Of
the dispute. The discussion was begun 10y
Mr. EDWARDS lie said that the bondholders,
to the extent of about $4,000, had agreed in
writing under seal, TO the appointment OF Mr.
William A. Tower, Of Boston, as receiver Mr.
Matthews himself, who held, either absolutely or
collateral, over 500 600 of bonds, had suggested
Mr. Towers appointment, and 1t had been ac-
eeeded to by Mr. Sortwell. The bondholders Were
substantially a unit in this matter, and II seemed
To him that they ought Ia have a controlling voice
IN the appointment of receiver. lie recon.
mended Mr. Tower as an excellent business man.
OF large wealth and special experience in manag-