New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-09
CHARLES PARSONS ELECTED
ACTION OF TIE NETWORK AND NEWENG-
LAND STOCKHOLDERS
THE PRINCE PARTY OVERWHFLIINGLY IN TIE
MtJoEITY-IMPoRT,NCE OF YE,TEH'
DAYS MEETING.
rBY TELEGRAPH To THE TRIBUNE


Boston. March --Tle Corbn party was badly
beaten Mt todays meeting of the stockholders Of the
New York and New England Railroad. TIE rupture
between the Corbln and the Prince men. whlch cui-
minated yesterday In the exposure by Mt. 'OG"''
of the alleged dup!lcty OF f. II. Prince WAS regarded
ty many last evening likely 70 lead 10 fnhce'
defeat In to-day, meeting The result of the vote for
directors demonstrated clearly that Mr.. Corbh hau
almost no following among The men WHO ooh'ioi
this property and that the Prince men were fea'iy
power. The election OF Mr.. Prince as hrst
vccIresidcnt viii place In his hannN
the financial management Of the corporaoii anu VIII
soon demonstrate his fitness for the place or the re-
verse. Mr. Prince is a young broker. lie l. 'he ~"
OF ex.Mayor Prince. prominent Democrat anu one
Of the most highly esteemed residents OF Boston'
The proposition to authorize the directors 10 ISSUE
additional bonds rise 10 some debate i"cc WIS
manifest disposition Ia restrict the director" III Inc
issuance Of new securities. but the resolution WIS
adopted which authorizes the directors I" ISSUE iro
time to time As they may deem exped'Ilt, bonus oi
the company bearing noY over per cent Interest an
nually and PAYABLE ut exceeding hfty years from
their date to total amount not exceeding hat VINO"
such time times may be authorized by law. 'ir
Prince explained that In the first place the drecuors
have IN View the retirement OF the existing bohds
bearing a high rate Of interest the laying of double
tracks along certain portions Of the company hhes
aud additional stations matters which had been dis
cussed ut length I'm the annual report then In the
hands OF the stockholders.
The following directors were chosen almost unan-
imousy. Austin COrbin receiving sixty scattering votes
J. A. Bostvck Thomas Ruttcr Henry llentz, John
L. Macauay sidney Dillon Alexander p. Orr. Charles
Parsons Charles Parsons IT, c. y. Tedcaste and f. V.
Cary OF New York: Eustacc Q. Fitz Charles A. Prince
and +. II. Prince. OF Boston; James l.. Howard, OF
Hartford George NJ. Landers, OF New-Brtain Conn.,
David 5 Plume, OF Waterbury. Conn; b. F. Vaughan,
OF Providence. Il. l.; Aretas Blood. OF Manchester
n. H.; Arthur Sewal Of Bath. Me. The new
members on the board are Charles Parsons.
jr., c. b. Tsdcastle James l.. Howard and
Aretas Blood These four take the places
Of Austin Corbin Charles Harwood S. A. Carleton and
r. II. Demng. Mr.. Blood Is president Of the Man
chester Locomotive Works and other corporations The
newly chosen directors held brief and harmonious
meeting and the following officers elected for
the ensuing year: President, Charles Parsons. ST.;
vice president. Frederick II. Prince: second Vice
president. Charles H. Parsons, IT.; treasurer. &. b.
Phippcp (rcelcctcd) secretary, james W. Perkins ire
elected These. together with the following. were
chosen constitute the Executive Committee Charles
II. Parsons lr, Thomas Rutter. J. l.. Macauiay H.
+. Vaughn. Alexander f.. Orr. Henry lienn and d. L.
Plume. 1t was voted that the Board Of Directors be
requested 70 consider the question Of securing II
through and Independent route to the city OF New
York and 10 that end that the meeting adjohfh 10
II day 70 b. fixed by the Board not later than June l.
Il tell you what remarked "a veteran who had fol-
lowed all the moves and windugs Of the rad. the
New-fork and Ncw.IIaven people are at the bottom
Of these charges. and they only watching the
chase gotblc IT up. You know that their president
is CarK who has been receiver Ind president Of tho
New.York and New England, and he knows all the
points, and where the work can be put In 10 accom-
plsh The purpose Others took radically oppo-
site OF the future of the road, and claimed that
Instead Of having Its Individuality merged into that
OF any other road and paying tribute Ia the magnaies
OF the Nutmeg state It should push out for the
sphere Of n trunk line ind endcavOr to obtain an In
dependent entrance To- NcwYork.
Director Macaulay SAYS: The vote to-day Was the
Target ever cast at any annual meeting larger than
at the G. T. Clark cont"s-and The best indorsc
rient the Board could have. There opposition
and no opposlon ticket. There l. Board lc~s
speculative than this. We acting under the al
vice Of simeon T.. Baldwin. Of Connecticut aud thcic
Is no better lawyer. OF course cannot tell the
amount OF bonds may issue. EOr Instance IN Con
nectcut you cannot. under the law. issue more THAI
per OF the Of the Uad, and we must nisf
show the cost Of property. We shall double track
10 Uawlcyvilic from New irita.n Immediately. We
len engines. The largest .tOckhoder Il Mr.. Bostwick,
who has rs 900 shares M starbuck has 200 shares
Of which 5000 are m MS name. Nr paroas ha' |
10000 shares, AID Will buy more. Mr.. COrbin hal
1900 shares In his name and claimed 5000. but b.
hos sold out. We have pretty good list 81 stock |
holders to bach IA up William Waldorf Astor sent rs
ms proxies upon his 1900 shares from London"