The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1883-11-14

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sJnt no excuse" Its comments cannot have
from a knowledge Of the facts.
Three or four days prior to the meeting, Judge
P.frett wrote one Of the officers that he re-
gretted that the dangerous and probably fatal
sickness Of his sister, who was then in his fam
ig and who required his constant care, made
1t impossible for him to attend the meeting.
The substance Of this letter was stated at the
meeting of the association, and its statements
were confirmed by members from Rutland
county. Judge Barrett's legal learning and
his aptness as presiding officer, gave promise
that his presence and efforts would add con-
siderable interest to the meeting, and the feel
ing Of disappointment at his absence was gen.
eral. His action might have been censured by
some members before they had been advised
u the reasons for 1t, but, under the crcum-
stances, 1t was considered entirely justifable.
TIE Norwood lumber property was bid in by
\. o. Brainerd, acting in behalf Of the deposit-
ors Of the st. Albans Trust company, at $780,
30. Receiver Rich and the representatives Of |
the stockholders committee, the Messenger |
says, then agreed upon the following PROPOSE
tions: First that Mr.. Brainerd should keep |
the property and run it while, selling off as |
much Of the personal stock as he could, and |
adding little new stock this winter IL it was
found necessary to do 80 in order to help the
sale Of that ON hsnd-the proceeds Of such sales
TO be turned over to the trust company. Such
a course would reduce the cost of the property,
1t was thought, to about S75, ,000-that amount
representing the cost OF the real estate. Then
the property should be divided into shares to
be taken by the unpreferred depositors in pro-
portion to their interest in the Trust company,
and devoted to their benefit; in case they con-
sented to such an arrangement, they would
have virtually years option In the matter.
| Second, that A. o Brainerd and Mr.. Cotton
might have sixty days option to take the
property and pay the depostors $1,000 for it.
Under this arrangement Mr.. Cotton was to be
released from liability on any Of his paper held
by the trust company and have no further
claim on the property. Third, that il neither
the first nor second propositions were carried
out-if Brainerd and Cotton did not take the
property at $500, 900, and the depositors failed
to form syndicateto take the property as men,
toned within the year-then A. o. Brainerd
was to take 1t for his own use. In case the
property was disposed OF as above, for $780,
900, the net result to the depositors would be,
the receiver says, about $170,00O, about $780,
600 being required to pay the balance Of pre-
ferred claims on the property, and the fees Of
the assignee. By virtue Of peculiar law in
the state of New York, the assignee Is entitled
to five per cent on the sale (S166. .500), besides
catching on to percentages for handling funds
| 10 ho do Of faula faao unt
to about $12, ,000 The Norwood business seems.
on the face Of things, to be profitable to the
assignee however it may be for unpreferred
creditors In its present aspect the "official
figures" do not seem to promise an issue essen
TALLY different from the "wild rumors" and
"misleading statements with which, few
!. weeks ago, it was charged that THE WATCH
MAN was " victimizing its readers.
THE following paragraph from the argus OF
last week is such marked example OF frater-
nal courtesy and evinces 80 much Of the spirit
of generous rivalry that we present it to our
readers without comment: "The columns OF
our esteemed contemporary, THE VERMONT
, WATCHMAN, last week, reminded US that the
time of year has come when certain newspapers
betray their consciousness that their own in
trinsic merits will never bring them a circuls.
ton, and they accordingly try to 'whoor
things up by the establishment of a gift en-
terprise in conjunction with their concern
Sometimes, like failing circus they combine
with another show, and endeavor to bolster
themselves for time by advertising grand
combination in large type. The WAToHMAN
has gone into both rackets, and the peculiar
temptations which it offers to lure subscribers
indicate that in future it proposes to cater fol
children's circulation only, and has given uI
its vain attempt to keep up to the level of the
intellectual wants of adult readers This Ii
emnently wise, and shows an appreciation o.
the fitness Of things which is very commend
able Its cheap dictionary prize will be goot
: thing for the children when spelling match
is in contemplation, and its Waterbury watcl
will amuse them in their lighter moments
when the irresistible desire of childhood t
, pull something to pieces comes over them
This adoption Of the combination racket
evinces a coincidence OF the ideas of the pro
prietor Of the real value of The WATcHMAl
, with the estimation that the public have be
y gun to put upon it since the commencement o
y his management which is gratifying, thougl
' unexpected. He offers for the small sum 0
" two dollars to send to one address THE WATCH
Il MAN for fourteen months, and also anothe
publication, whose price is fifty cents a year
u for twelve months. This makes his own valu
y alton Of THE WAToHMAN to be 81 % Al for
y year subscription. Cheap enough; but non
u too cheap, even with the nickle watch and tn
- dictionary thrown in. These schemes ar
worse than the expedents to which Josep
: Poland used to resort to maintain his circuls
# ton. They are beneath the standard of re
l. spectacle journalism, and prove that tn
r WAToHMAN is not nearly as good a newspape
= as it used to be- The Argus and Patriot
II not reduced to the necessity of enticing sui
l. scribers by gift enterprises, or ilegtimate de
+ vices of any kind. We spend our money in
IT different way, in improving our paper, an
}. making it year by year as near as possible
o the ideal OF what first-class newspaper shoul
d be. Our circulation to-day in Vermont is a
3 least double that of any other newspaper an
1t we have faith that it will continue to grow, a
l. the gift enterprises Of The WATCHMAN no
70 withstanding."
AN old-time resident of Chelsea, who sigr
% himself " T. H." sends us the following rem