The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1880-03-05
THE LATEST MOVE
Brattleboro & Whitehall r. r.
HARRIS RELEASED FROM HIS
CONTRACT.

HARRIS RELEASED FROM HIS
CONTRACT.
The Road Leased to the New Lon
don Northern.
The Annual Stockholders Meeting
The annual meeting of the stockhold-
ers of this corporation, at the Brooks
house, Monday, was very fully attended,
1888 of the 1000 shares of stock being
represented. Treasurer Butler and Pres.
! ident Thompson made extended reports
of the financial status of the concern. A
resolution of confidence" was passed on
motion of Judge Howard of Townshend,
in the president and directors, and the
old board was reelected in full, except
that J. ii. Phelps Of Townshend was Sc
lected in place Of A. G. Howard, who
| long since refused to serve. A vote was
passed instructing Hon J. H. Phelps to
| prepare statement of the financial con-
dition of the company to Jan. list, includ-
ing receipts and expenditures, and pub
lish it in pamphlet form for distribution
to the stock holders. At meeting of the
directors held later in the afternoon, they
organized by re-electing for executive Of
ficers: G. f. Thompson, president; Il. L
Waterman, vice president; G f. Thomp-
son, +, Goodhue, and J. l. Martin, exec
utive committee; j. A. Butler. treasurer.
The statements show that there has
been received on the stock subscriptions
up to Jan. LIST, S1S7 1898, of which only
S745.75 now remains in the treasury, The
balance has been expended, $150,060 to
II tlr Bros, $712.46 for other construc-
ton accounts S4,00727 for land damages,
$ll 1915 for engineering, 1854 SO for
lumber ties, &c, $5265.4l for "miscellane-
Gus" and legal expenses. Besides the cash
Harris Bros. have also been paid $4,000
in bonds, 800 of which they refunded
last week. on condition of being released
from their contract. The eight, ten or
twelve thousand which Messrs Harris re-
ceived from the Pennsylvania firm of
course also goes to them, and not for the
company's benefit. The Harrises claim
that they have paid for work on the road
$l77, 1859, and the executive committee
vouch for their statement as accurate,
though $35 $3.50 is represented to have
been expended in the substructure of
the first three miles out of Brattleboro.
When some OF these matters of etail
had been got through with Messrs.
Thompson and Martin related history
of the negotiations by which they had
leased the road, for completion and oper
alton to the New London Northern com
pany. which as the latter road is under
lease to the Central Vermont managers.
places our local enterprise forever in the
hafds of Gov. Smith & Co. They rep
resented that they had used every posi-
BILE exertion to induce the Connecticut
River company to take the road, as
would manifestly be for the interest of
the town and county. in order that our
railroad communications he not entirely
in the clutches of one corporation, and
that only when they had become salts
fled that further effort in this direction
would be useless, had they closed their
contract with the New London Mort hern
Col. Waite, who was present, rs repre-
senting the Connecticut River, contra
dicted this statement. and insisted that
his company had not been given fair
chance in the negotiations. He and Ex-
Gov Page, who was then in town. were
anxious to make another proposition to
secure the narrow gauge. and asked that
little time, if only an hour or two, be
given them to do it. But with
sort of "hurrah boys" which often
prevails in such meetings and
a feeling of panic lest the only
chance then left for completing the road
be lost by delay, his request was over
whelmingly voted down. Then vote
formally ratifying the lease with the New
London was taken, 1880 shares of stock
being in favor of it and only against it,
and an adjournment was taken to 2, p m
there being, we suppose, no more peril
in delay"
The facts with reference to the nego-
tiations with the Connecticut River, rs
ihase The Connecie u river tn." AMI M are
London Northern both made propositions
for the road, and that of the New Lon
don was regarded as the most favorable.
But so obvious were the advantages 10
the public, to he derived from lease to |
the Connecticut River, that Messys
Thompson and Martin, of the executive
committee, agreed to give that company
another chance and promised to submit
to them statement OF the conditions on
which they would lease the road.
This IS the story MIR. Leonard, the
president of the Connecticut River and Il
man of the highest rcpute, tells it.
Thompson and Martin both deny it, as
we understand. but Mr.. Leonard is ready
to make an affidavit to it, and Col Waite,
who heard the proposition made. con-
firms him. But on February 2lst, MIR. |
Thomp on wrote to Mr. Leonard, saying
that he did not wish to have the nego-
ia ion considered closed. The reason,
he said, why he had not submitted a |
new proposition to the Connecticut River |
was that lie had been SO busy that he
had not been able to get his executive
committee together. But on the very
day previous, February 2Olh, had to-
6 e her in Boston Thomps and Mar.
lin, and they mad signed the contract
with the New London. (This looks
like conclusive evidence of double deal
ing on his part On Feb. 25 Mr.. Leon
lrd replied saying, that as soon as Thomp-
son would confer with his committee and
make an explicit statement of the terms
IN which they would lease the road. that
company would render its decision.
This completely disposes of the claims of
Thompson and Martin, and the organs.
phenir and Record, that negotiations
we're hopeless with the Connecticut
River" and shows that the latter compa-
" lost its trade by being so foolish as to
ely on Thompson's word or memory
whichever is at fault. The consequences
D Brattleboro is to throttle for dozen
ears at least whatever chance there ever
'as OF the road being extended to White
all, and to very much lessen the chances
our getting another outlet, independ- ;
MT OF the Central Vermont, to the South
The terms of the lease In tho N.,y .
'ondon provide that that company shall i
Ike the road for 80 years. and agree to
omplese and operate it. 1t is not stipu-
ted how often they shall run trains,
lille the Connecticut River was ready
agree to run two each way every day. L
hey are to take the bonds at par, and v
&c irrevocably made agents and attor-
eys to issue bonds in any amount, for d a
hlch authority may be given. They i.
e also TO take any assets which the q
'mpany may have on hand in the way M
material. equipment, etc., and furnish tr
oh additional amount of cash as may &c
Necessary for the completion OF the
adj, this sum to bear interest at per
MT and to constitute floating debt
lich is to be paid out of the net earn
IS of the road. After this floating debt
$ been paid the net earnings are to be IT.
'ided equally between the two compa-
IS. They are to have the road com
ted by October l, next, the gauge TO be
tlonal with them, and the rails to 81,
Ugh not less than 80 pounds to the
ID.
Rev. j. B. Green's lecture last even a.
. under the auspices of the Claiming v"