The Portland daily press., 1886-12-15
N. Y. AND N. E. R. r.
The Annual Meeting Of the Company
Yesterday Morning
The Directors Authorized to Acquire
Certain Operated Property.
An Address by President clark-The
Opposition Ticket Elected.

Boston, Dec. 1.-THE annual meeting of
the New York and New England Railroad
Company was held in the Meionaon today.
There was very large attendance. Pres
ident Charles p. Clark presided, and by his
side sat Vice President William T. Hart
Among those present were most of the men,
bers of the present board of directors, and
Mr.. Elijah Smith. Mr.. Henan Clark, Mr.. T.
w. Pearsall and several others whose names
were upon the opposition ticket There were
two tickets in the field. Previous to the bal
loting for directors. President Clark ad
dressed the meeting in a very temperate
manner, stating that he should not criticise
the opposition, nor did he wish his friends to
do So The present management was con-
tent to stand or fall by its record.
sotns Inc re- reading Of the annual report pre-
report has been published
Col. Jonas IL. French submitted the fol-
lowing resolution, which was adopted:
Whereas, 1t is for the interest Of this company.
as SCI iorth IN the annual report to the corpora
uon, tnat tne three railroads and properties al
ready operated by this company, and Connecting
last Hartford Conn.,, with the present terminus
at Spring street In the city Of Springfield. Mass,
should be acquired and Incorporated with its fran
chlses, now, therefore, it is
Voted, That the purchase OF the stock Of the
Springfield and New London Railroad Company
upon the terms set forth iu the annual report Is
hereby approyed and further It'll 5
Voted, Ihat the directors be and they hereby
ale authorized to acquire in behalf of this COM
pany title to each Of the railroad properties
aforesaid and the franchises belonging thereto,
upon such terms, in such manner and at such
times as they see fit and from time to time to do
an such acts and procure such legislation as may
be necessary therefor.
Col. Jonas II. French moved that the
meeting proceed to ballot for Is directors,
and that the pools close at 3 p. m. This mo-
tlon was subsequently withdrawn. and n
snort recess taken to allow the present board
70 Hold a.oonferenee.
Immediately at the close of the conference
President Clark addressed the meeting as
follows:
Gentlemen This is a meeting called to
consider business-the business of a busi-
ness corporation, which should have neither
friendships nor enmities except for its own
good a property that has been in my keep
ing in one capacity or another. for three
years, and which Is handed over to YOU in a
more prosperous condition than it has ever
reached before. Indeed, the improvement
In our earnings has apparently made it more
sought after than 1t has been in years gone
by. 1t has attracted the attention of gentle
men owning large capital, and they have be-
come interested in the shares, and are here
today to vote. ! cannot, and win not,
any one to criticise them in behalf Of the
present administration.
President Clark continued to speak In the
same calm and fair manner for about 10 min
utes. At the close of his remarks the meet
ing preceded to ballot for directors IThe re-
gular ticket was made up as follows:
Charles P. Clark, Newton; William T. Hart and
Francis L. Higginson, Boston; Eustace G. Fitz,
Chelsea; VIM; A. Tower. Boston; George M. Rice,
Worcester; Jesse Metcalf, Providence; w. Il.
Sayles, Pawtucketi Frederick j. Kingsbury,
Waterbury, Conn. Geo. NJ. Landers, New Britain,
Conn, WIN. ID. Bishop, Bridgeport, Conn.,. Rus
sell Sage, George G.. Haven, Robert q Martin A.
J. Leith, Chester Grswold,J j. G. Moore, Elijah
Smith and r. Suydam Grant of New York.
The opposition ticket contained the names
Of
Eustice C. Fitz, Stanton Blake and James II.
Nehoas sSeGon and 0e b. VAUGHAN OF fsoy
dence; Frederick j. Kngsbury, Waterbury,
Conn; w. II. Stevenson, Bridgeport, Conn. Elijah
Pearsall. f. d. Tappen, A. L. Bateman, John G.
Moore. w. II. Starbuek, John l.. Macaulay, Yer
non II. Brown, J. A. Bostwick of New FORK.
The New York or opposition ticket was
elected.
The directors subsequently met at Young's
Hotel and organized by the choice of j. A.
Bostwick as president and James w. Per-
kins secretary, Treasurer Phyppen holds
over.
President Bostwick, Of the New York &
New England, said to Journal reporter to-
night, regarding the policy Of the new man
agement. Our policy will be to honestly
develop the property to its fullest earning
power. The road will be run on its merits,
and not for the benefit Of any other corpora.
ton. There will be no bull in a china shop
| policy regarding our relations with other
roads. i sincerely hope Mr.. Clark will con.
sent to remain with the road He has man
| aged it we'll and put it on an excellent foun.
dation. l know he said he would not retain
any connection with the road if he and hi:
associates were not reelected but we shall
make every effort to induce him to reconsid-
| er his decision. If he will not, then we mus
| look elsewhere. We have no one in mind
Regarding my own position / can only say
| L have allowed the use of my name simply K
! fill a gap, and propose to delegate the man
agement Of the road entirely to Others.
can say nothing regarding the future.