Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1898-10-27
Boston Bondholders Agree to
the Amended Central Ver-
mont Reorganization Plan.
A SPECTRE OF OPPOSITION.
Tho Plans of the New Rutland Manage-
ment and Fear That Vermont L,gisIa-
ture May Defeat Reorganization
Cause Uncasincss Why 4 Per
Cent Bonds Were Increased.

Boston, oct, c6.-Comrarcd with last
years stormy gatherings to-day's special
meeting of holders II American Loan and
trust company certificates of deposit tor
consolidated railroad of Vermont pr
cent. bonds was Js calm and unrufilcd as
the Ninoosh river IN u June day There
was not one note of discord, no tinbar-
aSSing questions Nc:c asked ofthc rvor-
gunizltiun committee ana the cnly thins
that served to cloud the brows OF the lat
ter was the rather disquictinS hints they
have received from the holders of uus,-
Curcl claims whose interests are not cared
for in the modified plan. and the fear that
thihSS may not proceed as smoothly at
Montpelier as they lid in Boston to-day.
The spectre of opposition i'm the shape of
the published plans OF the new Rutland
management has given some Of them a
bad quarter of an hour, ana the lUr.ing
belief that some of the Vermont kick
"rS,' whom tav committee recently plu-
Gated are now going TO turn around and
hight them ON another line has intensified
the disagrccah,c feeling. Nevertheless
the rooisaniz"rs have put on a bold out
ward front and aft'r to-day's love feast
stated that they entertained no Scrioss
fcjds of diSarraas: ment of their pians
the meeting was held In Chipmau Hall,
fremont Temple, about "a bond-holdcrs
attending, ana tho amended plan was
HSr, cd Ia 10y a vote of $.,S,G7Cp bonds. Is
who presided over he previous meeting
agam acted as chairman.
After tHv election OF Mr.. 1lils as chair
man, Charles IL. Bowen was chosen sccrc-
. tary, and Counsel Moorehvld storey took
the Platform ana briefly explained tho
reasons for the calling OF the special meet
ing. The mod He'd plan of reorganization
lac said, Is not materially different from
tho old o~c. The same corporation will
take over tho same property, only in tho
new scheme the amount OF Iirst mortgage
Per cent bonds will be $1,000 .o'o instead
Of Sln.u",o", as at first proposed. and
there will bc no second mortgagcs Tho
reason tor increasing the amount of pay
mcnt WAS that &, was found necessary to
pay more than at first !nttni ioi for the
/ Missisquo! Valley, Montreal and Vermont
Junction and Burlington X Lamoille Val
| Icy.
| Mr. Storey did not state Just how much
additional was paid for these lines but
the amount Is understood to h, a suhstau-
tial advance over the original offer OF the
committee, and was the concession that
p,acIted the so-callcd Smith interest and
caused them To withdraw their opposition.
MIR, storey said that the only difficulty
! that is now likely to be encountered by
| the rvurGun cation committee Is a possible
hostile movement by the holders of un-
secured claims through the Vermont Leg
islature. He CONCLUDED by stating that il
tho now corporation is formed the bond
holders will ne asked to surrender their
holdings now held in trust by their rep
rtscntatiVes and thus conclude the rcor-
gan!zat.on,
Chairman Hils then stated that the
question bctory the meeting would he
subject to no amendment and called for
u motion. l.. II. II. johnson moved the fol-
lowing vote:
voted that the amendment proposed to
L. pf lt. Ia inns
belonging To the holders OF the iirst mort
ga.e per cent bonds of the Consolidate ed
Railroad company Of Vermont which plan
was NproNed 1T a meeting ot tfc persons
holding certificates of deposit for the said
bonds ncld on october l2 1897, be ana the
same are hereby approved, and the COM
mittce OF boudhoders is hereby author
lied and requested To cause the plan as
amended to I've carried into effect and 10
settle claims Of the hordholdcrs whom
they represent accordingly" hx-Mayor
{. II. Saunders of Cambridge and l.. Fl. "A.
johnson Were appointed tcllers, and At the
conclusion of the voting announced the re-
suit as above stated.
.Nll tav members Cf the reorganization
committee MosSrS Ezra II. Baker, chair
man. Henry h. Day, ). l.. Kilnor and f.,
=. DISCO, were present. There were six
ladies in attendance. The meeting adj
journed At ll;o1 O'Clock, having been in
session about an hour, After the meeting z
one OF the members OF the committee in
commenting upon the Unynimity of the
proceeding remarked with a tingc of sar-
casm that n guarantee that was last year
thought not good enough for 90 was
now unanimously considered ample for
Sl20O1,o0U. Ii the ant-Grand Trunk clo-
mont in the Vermont Legislature should
succeed IN defeating the pending Central
Vermont reorganization measure, the en-
tire labor OF the committee will SO for
naught.