Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1880-03-05
BRATTLEBORO AND WHITEHALL
RAILROAD.
Preceding. at the ANIMAL Me.,Ir


Proceeding at the AnnuaI Meeting.
There was full and interested attendance
Of stockholders at the annual meeting Of the
Brattleboro and Whitehall railroad company,
which was held in the Brooks House parlors
on Monday morning OF this week, at 10
o'clock The report of the treasurer, ]. A.
Butler, was first read, accepted and adopted.
Then followed the report Of tho president,
G. f. Thompson, which, for the time being,
was laid on the table This report is printed
in full in our columns to-day, and gives COM
plete details in regard to the financial condi-
ton Of the company. Following the reading
of his report Mr.. Thompson and j. L. Mar
tin gave a verbal history in detail of the nego-
tiations which the executive committee had
had with the Connecticut River and New
London Northern companies relative to the
completion and operation Of the road. For
period of several weeks they had used every
possible means TO induce the Connecticut
River company to help the new road out, and
at last, becoming satisfied that further effort
in that direction was useless, they had CON
NAuhNu a AShnt WIN Ahb NtW AtOuuOu NbIlubTn
company, and this lease the president read
Its terms are, in substance, as follows; The
New London Northern railroad company
lease the Brattleboro and Whitehall road for
a term Of % years, and agree TO complete
and operate it. They are to take the bonds Of
the road (S15O, 600 at par and pay the inter
est on them. They are also to take any as
30 col; l.. L.
in the way of material equipment, etc, and
furnish such additional amount OF cash as
may be necessary for the completion of the
road this sum to bear interest at & per cent.
and to constitute floating debt which is to
be paid out Of the net earnings of the road.
After this floating debt has been paid the net
earnings are to be divided equally between
the two companies. The road is to be COM
pleted at the earliest practicable moment, and
the date of completion is not TO be later than
the first Of October next The gauge is to be
not less than three feet, but at the option of
the New London Northern company it may
be made IT, 81 in. gauge. The weight of
rail is not to be less than 80 lbs to the yard
The lessecs agree not to place any obstacle iu
| 'AS WY VI 'AN NAAlAltiNA VI AhD ipeN "
! Whitehall. 1t was stated by way of explana-
ton that October LIST is named MS provision
al time for the completion of the road on ac-
count of the uncertainty of the company be-
| ing able to obtain the iron so as to complete
the work before that date.
Pending a motion for the ratification of
| this lease, S. NJ. Waite, in addressing the
meeting, took exceptions to the statements
made by Mr. Martin relative to the negotia-
| tons with the Connecticut River company,
and claimed that that company had not been
| given a fair chance in the negotiations, and
that the executive committee had acted in
bad faith in the matter. This charge gave
rise to Il lively passage arms between
Messrs Martin and Waite, in which Mr. Mar
tin vigorously defended the action of the e1-
ecutive committee, and both he and Mr..
Thompson insisted that. even at that time,
the stockholders were at perfect liberty to &C
cept better proposition than that of the
New London Northern, were such a PROPOSE
ton forthcoming. At the close Of the dis
cussion a vote was passed formally ratifying
the lease. Eighteen hundred and thirty three
stock votes were cast, and of these 1880 were
in favor of the lease and only against it.
After the declaration of the vote the meeting
adjourned for dinner.
On reassembling at ?. NJ, Mr.. Thompson
announced to the meeting the terms of a set
Element which had been reached with Harris
Bros. * Co., under which they were released
from their contract for the completion of the
road-this settlement involving the return by
Harris Bros. & Co. of the S25, 800 in bonds
issued to them, and their REIMBURSEMENT OF
their claim for the cash percentages earned
by them, but retained by the company under
their contract and also of their claim for
$1,000 or $4,000 for extra work done. This
settlement was unanimously ratified by the
stockholders. The following resolution in
troduced by Hon. o. S Howard Of Towns.
bend was unanimously adopted:
That the stockholders of the Brattleboro
4 Whitehall Railroad Co. tender to the Presi.
dent and Directors our thanks for their able
and efficient services in behalf of our com
mon enterprise.
The old board was then reelected with
the exception that Hon. j. II. Phelps was
placed upon the list to supply the vacancy
| caused by the resignation OF a. y. HOWARD.
At the proper time the presidents report was
taken from the table, accepted and adopted.
vote vas passed instructing Hon. J. H.
Phelps to prepare a statement of the financial
condition of the company to Jan. LIST, includ-
ing receipts and expenditures, and publish it
in pamphlet form for distribution to the
stockholders, and the meeting then adjourn
ed.
At meeting of the directors held impe.
dately afterward the board organized by the
reelection of the old officers C. F. Thomp-
son, president; E. L. Waterman, vice presi-
dent C. F. Thompson, F. Goodhue, and j.
L. Martin, executive committee J. A. But
| lar irensurar