Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1880-07-23
THE RUINED BANK.

THE sTocKHoLDERs' MEETING AT BELLOWS
FALLs-wHAT WAS SAID AND DoNE-sTATE-
MENT FROM THE DIRECTORS.
As furnishing the best obtainable account
of the meeting Of the stockholders of the
First National Bank held at Bellows Falls on
Monday, We copy entire that published by
the Bellows Falls Times. Mr.. Swain, the cd
itor of the Times and n stakeholder in the
ruined bank, having been the chairman of the
meeting:
The informal meeting Of the stockholders
of the wrecked bank Mt Brattleboro was held
at Towns Hotel in this village, on Monday.
A. n Swain was chosen chairman, and +. w.
Childs secretary. II was found that over
| 800, 600 of stock was represented, and gen.
| eral discussion followed as to what action
| could be taken to best serve the interest of
the stockholders, in saving something from
the wreck or increasing its assets during
| which, from statements made, the opinion
prevailed that the directors, or majority of
| them, would refuse 10 call any meeting look
| ing to the interest of the ruined bank. Ac-
cordingly the discussion took turn relative
to calling legal meeting by the stockholders
themselves, in case the directors should re-
fuse to call such meeting, by securing rep
resentation of two-thirds of the stock in favor
| OF bucn meeting. IN IuIlueIhnCe OF huCu
| movement the meeting voted to elect COM
mittee Of three to ask the directors to call
such meeting, and, in case of their refusal,
to take measures for the calling Of such a
meeting by the stockholders and Messrs. +.
w. Brooks of Brattleboro j. l.. Pierce of
Chester and j. A. Farnsworth Of Saxtons Riv-
err were elected as such committee.
Many inquiries were of course made, with
various answers and opinions. One gentle
man thought there would be sharp ASSESS
ment another thought it would be small
There are rumors that the attachment for the
bank on the toll-bridge property will not
hold, on account of some technically; on the
other hand, counsel for the stockholders utter
| ~ scout the idea that their hold is not good
This and other questions were talked of, and
at times with considerable emphasis but it
is not likely any very valuable information
will be obtained till the receiver strikes the
balance between the assets and liabilities.
Since the above meeting was held, we learn
that Mr. Brooks, chairman of the committee,
has applied to the directors to call meeting
of the stockholders and that there is no
doubt that a majority, if not all of them, will
call such a meeting at once, and save the
stockholders the trouble they had anticipated.
We are further authorized to say, by Hon. j..
NJ. Tyler, that he is not how, and never has
been, opposed TO calling a stockholders meet
ing that he favors doing all that can be done
in the interest of the stockholders, TO secure
all assets possible for the wrecked bank, and
that he is ready to aid and cooperate with the
stockholders in any investigation that may be
had, no matter who may be uncovered by IT..
This is not only highly creditable to Mr.. Ty-
Ter but quite different from what his position
was supposed to be at the meeting of Monday.
We further learn that meeting of the direct
ors will be held Saturday morning of this
week, at Brattleboro, for the purpose of call
ing the meeting Of the stockholders above
projected.
p S. We received last evening the follow
ing note, which not only explains itself, but
commits all the directors las We have no
doubt about Messrs. Parker of Putney and
Richardson of Chester in cooperation with
the stockholders for whatever can be done, il
anything, for the benefit of the bank and it,
stockholders
BnATTLEBoRo, W., July 81, 1880.
A. n. swAIN,-Dedr Sir:
| We have been informed, upon reliable authority
that At the Informal meeting Of the stockholders o
the First National Bank Of Brattetoro, held at Bel
lows FAs on Monday, 18th inst, it was stated ant
generally believed that the directors unwilling
and had refused to eau meeting Of the stockholders
This iS utterly untrue, We had not refus,d and NJ
request had been made to US ty any stakeholder Il
call such meeting. FurtheImore, we have always beer
entirely willing TO have such meeting called, AM
should have called one without requoFt had not tn
affairs Of the bank gone into the hands Of receiver
who as understood, superseeed us in our duties.
We learn that it was also stated that the director
were not looking after the interests Of the stockhod
ers, which is also untrue. mCdiately on the dis
covory Of Waies forgeIieE, caused all his proper
to be attached, and We have every reason to beloV
that the attachments are valid and will hold good.
1t ought not to be necessary for us TO assure th
stockholders that we have and could have no otho
purpose than to all can for the bank. In thi
the ckholdors and drectors have only comnUl
interest. meeting Of the stockholders viii be oAlle
and held at the earliest possible day.
J. NJ. TYLER
A. WHITFIELD,
c. j. AMlDON,
+. A. NASH,
HENRY G. WILLARD.
We have had opportunity TO confer with MI
Richardson Of Chester, or Mr.. Parker Of Putney bu
we are confident they would endorse all have sal