Barre evening telegram. (Barre, Vt.) 1898-19??, 1898-10-19
PROCTOR is
RATIFIED,
To Incorporate Gen.
trail Verment
Railroad
OTHER BILLS INTRODUCED.
OTHER BILLS INTRODUCED.
Montpelier, VT, Oct. 49,

Yesterdays session was an important
one. The most importont bill introduce
ed was one 10 rror sanize the Central
Vermont Railroad. It was introduced
by request by W. B. Wall, of Randolph.
1t can be stated that the majority Of the
stock is given Grand Trunk, which in
return guarantees the interest ON $12,-
100000 first mortgage four per cent.
twenty-one year gold bonds.
These bonds are to be exchanged
with holders of the present first and
second mortgage and American Trust
and Loan Company's certificates at par
value which will give these bond hold
ers, Smith & Tate, DR.. Webb. and
others a satisfactory amount Of bonds Of
tho road under reorganization. Unpaid
interest on these bonds from February
1 to October will be paid in cash and
bond holders will receive capital stock
to pay interest due on these bonds be-
fore that date.
Ii fact, this bill seems to provide for
all secured Indebtedness but leaves out
all provision for unsecured or floating
ndebtedness of which there is a large
amount. The company formed under
this new bill stands ready 10 buy the
road as soon as the court DEGREES it shall
be sold and take the road and operate
it.
4 meeting has been called of the
bond -holders Oct. 26 in Boston t. vote
on the acceptance or rejection OF the
plan of reorganization.
Nineteen bills were introduced in the
House during the forenoon session, the
most important ones being II SO by Bal
lard of Georgia in relation of examina-
ton Of teachers. Teachers having re-
cciyed one first grade certificate or three
second grade IS entitled to five year
certificate without examination. By
Bu,tcrfeld of Derby creating the office
of Attorney General and one by Dodge
of Sheldon to equalize taxation.
In the afternoon the only important
one of the three bills introduced was
tue relating to &. V. reorganization. A
bill relating to Notaries Public was Kill
led, Two bills were passed the only
important are being one to provide in
struction to deaf, dumb. blind and idio-
tic.
At 2-30 the House proceeded to vote
for a U, 8. Senator to succeed Hon.
Redfield Proctor. lie was nominated
to succeed himself bv iligbee OF froc-
tor seconded by several. He had l7s
vy,es and Thomas W. Maloney 40.
The business in the Senate in the
forenoon was as follows Several minor
resolutions. Third reading OF bill re-
latinc to investing to investment OF
money by trustees of public money
Four bills were introduced the only
one of any importance being the one by
Smith of Chittenden creating once OF
Attorney General. In the afternoon the
Senate proceeded to vote for U' s. Sen
ator. Senator Partridge nominated hon
Redfield Proctor and he was unanimous
lv elected. 1t takes two days TO e'ec'
U. S. Senator and today both houses
satisfied yesterdays proceedings ano
Proctor is duly elected. The only I'M
portant bill in the Senate yesterday al
ternoon was the G. V. reorgan'zatlof
bill.
A Joint session was held at 2.3o t(
hear the report of the joint canV"ss'"s
committee for the vote for consressme"
The report gives II. Henry rover
1886 majority in the first district ant
William W. Grout 11,704 majority II
,bo second district.