The Providence news. (Providence [R.I.]) 1891-1906, 1892-11-21
The NEWENGLAND ROAD
The Stockholders Held a Lively
Meeting at Boston To-day.
MOVE AGAINST THE OLD COLONY
The Boston Commercial Bulletin Be-
Iieves That There Is stlll Good In the
New England nud-That There is
Future For 1.-THE Meeting To-day In
Boston Was Very stormy one' Gen
tIemen Calling Each other Liars.

BosToN, Nov. 21.--Tbe special stock
holders meeting of the New YORK, q
New England Railroad Co. at the Meio-
naon was called TO order at 10 A. M.
Ex-Gov. Howard was elected chairman.
on motion of President Parsons.
The election was objected to by n. +.
Goldsmith. who wanted President Par
sons chairman.
w. +. Brandies, counsel for Goldsmith.
read bylaws which said that the presi-
dent should preside at all meetings or
stockholders at which he Is present, ana
demanded that he should preside. lie
wished his protest entered on the records.
Mr. Howard requested President Par
sons to take the chair and ne did so' ana
explained that he was ipdisposed.
The third article of the call, to author
iye and provide for the issue OF consoli
dated mortgage bonds under the provis-
ions Of the act OF the State OF Rhode
Island, was brought up.
Mr.. Brandies moved that the resolution
be laid on the table, but he was voted
down. lie then asked to have it put on
record that he objected TO this Act
1t was then voted to reconsider so
much Of the vote Of the stoc kholders,
passed March 8, rs contemplates the pos,
sible exchange of shares or the preferred
stock for consolidated bonds.
A motion was put TO open the polls,
but Mr.. Brandies objected. Mr.. Brandies
asked why stockholders were called to
ratify the lease of the Providence and
Springfield now, which was executed In
October, 1890 No one answered him.
He then asked IL ~ suit was not in
progresS TO set aside this lease. AS IL was
done largely for the directors beneht ana
not for the benefit of the company.
He wanted TO know II there were not
$500. 600 Providence and Springfield bonds
overdue, aud if the mayor OF providence
had not taken possession Of the road.
Mr.. Lummis said the first two ques-
tions could be answered in the records oil
the court.
Mr.. Parsons said 1t was for the interest
of the New England to ratify this lease
but Mr. Brandies said that did not an
swer his question.
President Parsons said Mr.. Brandie,
was fooling away time.
Mr.. Brandies then read LITTER from
Providence stating that default was
made OH the Providence and Springfield
bonds and that the default had continued
for 90 DAYS and that the mayor OF Provi
dence demanded the sale OF the road bI
auction.
Mr.. Parsons said he would stake his re
mutation that it was a good lea G for th'
New York and New England. The earn
ings for the past thl les years had averaged
because the expenses were too heavy, 1
being a short line. The freight that New
England gets on the road represents
&65, 900 year.
Mr.. Parsons further said: ~ thinl
some gentleman here represents the Con
solidated road. aud wants to keep th
road from the New Englani. IL earn
$500 mile and is 2S7 miles long"
Mr.. Brandies also objected to the lease
He saiu: You withheld the New Eng
lands report to the railroad commission
ers Intentionally, until after this meet
ing. as 10 will make disastrous show
ing, aud you have earned deficit o
$4,000 in year.
when Mr.. Goldsmith was sued he wa
blackened by you and now we ask tha
this railroad be operated according u
law
1T is not for the interest of the New
England road to have the president or th
directors, past and present, buy up road
and sell at proht."'
Mr. Lumpsis, representing L. III. Prince
said tue Meriden, Waterbury and Con
necticut Railroad was bought i'll the In
terest OF the New England, and tha
people here were trying TO defea the reso
luton TO ratify its lease In the interes
of the Consolidated road.
Mr.. Cooldge's motion TO postpone The
Meriden lease was voted down.
Mar. Coolidge doub Ell the decision, ant
President Parsons said no truthful pei
son would doubt it.
Mr.. Coolidge said il was the first tim,
he had been called liar
The meeting then preceded TO ballo
on the approval Of the leases OF th
Providence and Springfield and tn
Meriden road. At o'clock the vote wa
announced as follows, For l6S.2,
Skain9t 40