St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1878-02-01

the nOn-assenting bOndholders. If we
start that way we 90 nowhere.
Mr.. Price said this matter had got to
be carried through fairly, and my eli
ents and myself must have confidence
in the committee. We in Philadel-
phia don't know these Boston and New
York parties on the committee. We
Philadelphia people want to know who
represents us.
Governor Hendee again urged that
the poor class of creditors should be
faithfully represented. Mr.. Hyde, it is
stated, will represent this class of cred
itOrs. Mr.. Hy,ie would 10 doubt do it
well and faithfully, but Mr.. Hyde rep
resents two classes of bOndholders, and
lives away from the vicinity where this
class of creditors reside, therefore he
hoped some gentlemen would be chosen
who would represent them, and who
lives among them.
Assurance being given that that class
of interests should be protected and
faithfully represented, Mr.. Hendee did
not insist upon an additional member
of the committee.
Mr.. Blake said he represented large
interests. He wanted IL right beginning,
and wanted the one gentleman Mr..
Hasler-tO retire along with the other
asserting bOndhOlders, and agree
as TO who shall remain upon the COM
mittee.
Ruled out of order.
Mr.. Beckett then offered it as All
amendment to an amendment. He
wanted all things amicably adjusted,
and the sooner we keep away from the
courts the better.
After considerable spirited talk it
was voted that Mr.. Hasler and the
gentlemen representing the non-assent-
ing bOndhOlders retire and select Il
member for the committee.
The committee of nOn-assenting
bondholders reported, through their
chairman, Mr.. PancOast, that they were
unable to agree upon person, but sug
gest that the meeting name one.
Mr.. COggeshall said he Notified those
gentlemen he should name another per-
son in the asserting bondholders.
Judge Poland again rose and said he
hoped there would not he Il split among
ourselves because there is dispute as
to how many shall represent each in
terest. The gentleman selected to rep
resent the nOn-assenting interests, was
selected before the others got here, aud
it seemed to be fair and honorable
selection.
The Chair read the committees re-
port, which was, that they were unable
to agree upon any one name, and rec
ommend that the original resolution be
amended by adding the name of William
H. Rhawn thereto.
To this Mr.. Coggeshall offered an
amendment that another person be
chosen by the meeting to represent
those in interest with him.
Mr.. Jewett said he wanted this road
taken out of the hands of receivers. 1t
has bright future for business. The
interests of the property is that the
people along the line of the road shall
be satisfied, and hoped the other man
would be from Vermont. We want the
people with us and the workers among
us. This is what gives us hope aud
courage,
Mr.. Guy C. Noble wanted the diff
ficulties speedily settled, and said lie
represented the Mercantile Trust Com
pany, and cordially approved of Col.
Jewetts suggestion for Il speedy end of
the receivership, aud desired to suggest
for the benefit of the committee to be
appointed that large amount of the
first mortgage bondholders believed
their interest had Il remedy under the
statutes of Vermont by which reor-
ganiZatiOn of the bonded interest into a
company after foreclosure of the first
mortgage could be made, when the re-
ceivership could he terminated and the
settlement of the question between the
first and the preference mortgage ad-
justed. The first thus being in posses
sion of the property as a company.
Mr.. Jewett said that he wanted to
correct an impression which had gone
abroad, that Judge Poland had acted
dishonOrably about the preference
bonds, but Judge Poland had no more
interest for them than for the others.
Judge Shurtletf requested Judge Po-
land to take the chair pro TEN, when
Mr.. Shurtletf addressed the meeting
briefly, and the amendment to add
Judge Shurtletf to the committee was
accepted, and the original resolution,
with the additional names of William
H. Rhawn of Philadelphia, and Judge
William II. Shurtleff of Springfield,
were unanimously agreed to, and with
the further prOviso that the Committee
report by meeting or OtheriVise, the
meeting, at six o'clock. Adjourned.
Col. Fitzgerald, President of the Mer-
camille Trust Company and Chairman
of the Committee, at once met the Com
mitteee for the purpose of organizing
for the investigation, which it is said
will be very energetic and thorough,
the determination upon the part of the
security holders being to ascertain the
shortest road out of their difficulties.
The Committee chosen to investigate
the status of affairs of the road met to-
night and elected Louis Fitzgerald,
President of the Mercantile Trust Com
pany of New York, chairman, and
Charles w. Hasler, Secretary. The
committee organized for business, and
say they mean business. A sub-com-
mittee consisting of H. D. Hyde of Bos-
ton, and Charles w. Hasler of New
York, were chosen to proceed to St.
Johnsbury, and make a complete and
thorough investigation of the accounts
of the road, to report at a subsequent
meeting of the general committee, to
be held in New York. The representa-
tives of the several security holders
tonight express themselves as well
pleased and perfectly satisfied with to-
days meeting.