Windham County reformer. (Brattleboro, Vt.) 1901-1906, 1904-01-01

Northern representatives. They wer
as follows.
!. We viii give mortgage for ney
bonds to the amount of 100000 a
forty years or more at not over five pc
cent interest payable semi annually
Will require an annual stipend of $500 o,
instead of $4,000, as heretofore, fo
maintaining the organization as here.
tofore. will require that all account,
for Indebtedness other than the amount
above named, be cancelled and we vii
cancel all our accounts of every name
and nature. that in the future all
charges for lighting and other terminal
charges shall be pro rata based upon
the mileage of the New London
| Northern and Brattleboro and White
hall railroads and that sufficient equip
inent to do the business Of the B & W
railroad be furnished at once to an
amount not less than twenty five addi-
tional freight cars and two first class
engines, and passenger cars as may be
necessary and that the New London
Northern r. r. Co. or its agents, shall
put and keep In good and safe repair.
the road bed. cars and buildings OF said
y & w r, r. the old lease and con-
tract to remain In full force except as
changed as stated herein. Should the
said New London Northern r. r. Co,
or its agents. desire to change the pres
ent gauge of the road. making the
same standard Broad Gauge we are
willing TO have the mortgage increased
TO $250,o00 or to an amount necessary
for said purpose
.2-The stockholders instruct the di-
rectors Of the Bfattleboro & Whitehall
railroad to agree that decree of fore
closure on the road as now construct
ed be granted by the United States
circuit court in the proceedings now
therein pending, said decree to be upon
conditions that the New London North
ern company shall until Jan. /. 1879
pay TO the Brat.leboro a. Whitehall
an annual stipend of 5000:
shall keep the road In good repair, shall
operate the same so as to reasonably
Accommodate the business which may
come to It; to make the road standard |
gauge before Jan, !, 1905: Upon fail |
nre to fulill conditions decree TO be |
null and void
3. That the Brattleboro e. White /
lall railroad win vote and execute a I
irst mortgage to renew the present 7
mortgage of s150,000 and to include an (
additional sum to exceed $4,000. said F
additional sum TO be used TO make the
Dad standard gauge; said mortgage to
'e run 40 years at per cent In all /
'ther respects the present lease and
ontract 10 remain in force.
All three of these propositions were
eclined by the New London Northern
representatives. after short confer
nee although a modification of the
econd, committing the stipend at $4,000
nd embodying In the foreclosure de-
rec a provision which would allow
ny failure to operate the road prep
rly TO be called 10 the attention of the
npreme court. was returned. This
fer did not seem TO meet with any
lore favor In the eyes of the Brat
ehoro & Whitehall stockholders than ,
he original, so as an ultimatum they ,
atlirned the second OF their PROPOSE /,
ons only reducing the annual stipend /,
'om 5000 to $500 But the New Lon
on Northern representatives would
ot bulge an inch from their last offer. :,
I'd negotiations We're brought to an !,
Id
II the New London Northern people !,
iould fail to get a decree OF fore :
osure in their case before the United !
ates circuit court the Brattleboro !,
Whitehall company will continue its ;,
ut against the former corporation =
king for receiver In case the New =
,ndon Northern company should get
decree Of foreclosure the Brattlehoro ;
Whitehall company win only be out =
600 more than as If It had accepted !,
e last of the offers. \,