Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1883-07-20
a Counter Statement in the Rutland
Railroad Case.

Six of the Rutland railroad directors have
issued statement in reply to that made by
the Clements, which we quoted from last
week, and to this statement is appended one
from Gov. Page denying absolutely the
charges which the Clements insinuated
against him. The directors say that Haven i
cash is short $3S 600, and possibly moro.
His overissue of stock at one time amounted
to 1892 shares, but the overissue now out
standing is believed to be 1891 shares. One
of the latest and largest overssues was that
of 3l7O shares of preferred stock to p. W.
Clement in November last The company
denies responsibility for this overissue and
has begun a suit in ohancery to compel the
surrender of the stock. The directors state
that, 'in every case of overissue where the
signature of Gov. Page was used it was
breach of trust on the part of Mr. Haven
the signature being left with him for lawful
uses only, as is the custom in large corpora
tions." They deprecate the removal of Gov.
Page from the board of directors, at the an.
preaching annual meeting, as likely to prove
seriously preiudicial to the interests Of the
company. The pamphlet in which these
statements are published contains an affidavit
from Mr.. Haven in which he swears that he
alone is responsible for any mistakes or ir-
Irregularities" which the stock books contain,
and that Gov. Page had no knowledge of
them.
Gov Pages statement opens with an ex-
PLANTATION of some details with regard to Mr..
Wilbur's expert examination of tho compa-
ny's affairs which revealed Mr.. Ravens dis.
honest transactions. He charges the Glenn
ents with attacking him for the purpose OF
getting him out of the management of the
company and gaining control of the compa.
ny's affairs for themselves. He says that the
charge that be has used tho company's
monthly balances, averaging $50, GOO, for his
own benefit, without accounting for the in.
torest, is false, for the simple reason that the
company has never had any such balance on
hand. As to the charge that the condition
of the company has steadily run down under
his administration Coy. Page says: You
well know that four or five years ago our in
come, over interest on bonds, was only
about S23, 600 per year, and our floating debt
was more than 100000. Since that time
we have reached a situation where we are
substantially free from floating debt, and
have nearly $50, 900 annually available for
dividends. l had battered myself that the
bringing up of this stock from under such a
load to dividend-paying basis was an ad-
ministration much moro than ordinarily sue
cessful 1t has often been SO styled" lie
charges the Clements with wilful libel in &C
cusing the directors of secret purpose to
issue new stock in order to carry the coming
election, and he also charges them with
crookedness in their manner of securing the
3l70 shares of stock above referred to. The
main thing, evidently, which Gov Page secs
in the methods of this firm of brokers" is a
purpose to defame him and break down his
business relations.
A petition has been filed by A. G. Bates a
Son in the court of insolvency against j. NJ.
Haven and hearing is set for the 2jth, the
date of the annual meeting of the railroad
company. All of Ravens property is now
under attachment by the Rutland railroad
and other creditors. George II. Palmer, do.
ing business as the Palmer grocery company
and one of Ravens bondsmen as treasurer,
has filed a petition and is adjudged nsovent
A Rutland letter to the Springfield Re
publican says that the railroad affairs and
the approaching annual meeting are the
talk of the town. Clement claims to
control 10000 shares out of Gs, 900.
The feeling in town is strongly in Pages
favor. He is man whose friends stand by
him, he has done q great deal for the town,
and he has behaved well under fire. all
which helps turn public feeling in his favor.
Haven, who was the cause of all this commo-
ton, is lost sight Of He is in town and his
affairs are being settled up in the insolvency
court with no more comment than attends
any large failure. The truth is the man was
more of a fgurehe than a power. He
was thought to be rich, and he invested in To-
cal enterprises recklessly, which gave him a
good deal of prominence in town, and more
out of it. But he is not a strong man, and
his disappearance from active life only makes
a break because of the withdrawal of his
money.