Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1908-01-09
RECEIPTS.

Assessments on stock, 1913 IA
Stock transfers, % so
Tolls and messenger fees, 1855
Interest from bank deposit, 2Q0O
Profit on phones put on Northfeld- Mont
pelier line and one phone bought of c. L.
Speare, $40
Cash hired of bank, 100000
Rent of room sublet In Barre, 500
Settlement with w. @. Daniels, 1912
Miscellaneous, 1886
sll.I2s.s6
EXPENDITURES
Paid switch tenders as per contracts, S33ss OF
Postage, office supplies and express
Orders drawn 1922 $50 inclusive, classi-
fed as follows:
Labor on line construction, l5 ,Ss o.
Telephone supplies. Isl .95
Services and expenses OF officers, SS4ii
Printing including 14oo postal cards., 1929
Membership tax, Vt & N H Tel. Assn, 1890
capital stock 400
G. R. Andrews, towards purchase prlev
of Northdeld- Montpelier line, 800 90
Int. on money hired at bank, 1888
Rent of room for switch in Barre. $500
Rent OF poles in Montpelier and right
to set poles, 1900
Miscellaneous. i13 90
Cash balance on hand, S3.12
s1l.12s ss
There are now outstanding liabilities as
follows
Note to Nat. Bank OF Orange County, $1,000 90
Note to G. r. Andrews for bal. of pur-
chase price of line bought, 300 90
Accident insurance premium, 1900
Due switch tenders, sS5-S5
Rent on room in Barre, 5000
ssss5 IS
The expenses of the company were
about $1,000 greater in 1907 than they
were in 1906, large part of the increase
being accounted fer in these three items
about 81, 500 for construction work in
and about Montpelier; about $3.50 for con-
struction work and expense in and about
Barre, and $1,000, the purchase price of
the Northfield- Montpelier line bought of
G. r. Andrews.
There are now 1875 shares of stock out
standing as against 1473 shares last year.
OF these 1887 are pole shares and 1Ss are
money shares. About two-thirds of the
shares issued during 1907 were money
shares.
After the reports had been disposed OF,
the third article of business was taken
up, it being the proposition to amend the
bylaws, by striking out Article 20, thus
throwing the support and maintenance OF
the lines upon the company and doing
away with the maintenance of half-miles
by stockholders. J. K. Darling moved to
strike out Article 20 and after some dis
the motion so as to provide for the ap-
pointment of committee to examine in
to and report as to the feasibility of the
company assuming the maintenance OF
the lines and also as to the feasibility OF
dividing the company. Discussion was
general on these matters and was entered
into by Lewis Seaver, c. U. Lathrop, u.
r, Andrews, E. III. Kennedy, M. w.
Chamberlin, DIR. II. NJ. Huse, j. w.
marlborough, A. d. Reed and others.
In the midst of the discussion, recess
was taken until 1 O'Clock that the MEM
bers might secure dinners.
The proposition to amend the bylaws
so that the company assume the mainten-
ance of the line was disposed of by the
election of a committee to investigate and
report the ACCESSIBILITY of such action
next year. That committee is also to re-
port the feasibility of division OF the
company, selling out the Washington
county lines and exchanging service.
The committee elected is as foliows:-
Geo. L. Stow of Chelsea, c. l. Speare OF
West Corinth, H. M. Farnham of Mont
peIier, w. K. Howe of Tunbridge, Lewis
M. Seaver of Williamstown.
The proposition to increase the assess
ment on the stock was voted down.
so that the company might rent phones
was also voted down.
It was voted to have only five directors.
instead of nine, as the past year.
The directors elected were:-C. l.
Speare of Corinth, E. H. Kennedy OF
Chelsea, A. E. Covell OF Montpelier, DE-.
E. E. Ellis of Brookfield, Harry Daniels
of East Montpelier. These directors Ia
ter organized by the election OF +. d.
Kennedy, president; G. L. Speare, vice
president; r. H. Williams of West Cor
NTH. secretary and treasurer; Stanley Z.
Wilson of Chelsea, auditor.
Two of these directors are new mem
bers, G. L. Speare, formerly president OF
the company, who defeated u. Il. An
drews. 522 to 407, and Harry Daniels.
There was a very hot contest over direc-
tors. resulting generally in defeat OF
the old board.
The meeting adjourned about 6.
About 300 members were present and
about $50 shares represented.