Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1910-12-07
INDEPENDENT co. SELLS
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will be enabled to dispense with one
and that subscribers of both compan-
les will be enabled to communicate
with one another. President Emery
said that in his judgment there need
be no apprehension felt in connection
with the matter of rates. The public
service commission he said stands be-
tween the subscribers and the compa-
ny to protect the former against any
thing like eXorbitant charges. Fur
thermore, the board of director of
the Passumpsic company, he UNDER
stood, is to be enlarged, and represent
atives of the Peoples company stock
holders are to he invited to places up
on it. The management will there
fore be of an essentially local charac-
ter and the needs OF the company's
subscribers will be given careful atten
tion by gentlemen who are familiar
with them. Attention was directed to
the fact that the Peoples company had
given to it's subscribers as good service
as could be given for the money that
was paid IT. was a service, that could
be improved however, and that proba-
bly, would be. Patrons OF the company
who might possibly feel apprehension
in regard to the future would do we'll
to suspend judgment and await the
outcome of events.
Referring to Mr.. Buchanan, W no had
been principally Instrumental in build
ing up the company and in carrying it
on, the president stated that by rea-
son of considerations affecting his
health, and relief from the labor and
care Incident to the management Of
the company he felt obliged to i'm
prove tne present opportunity to be
relieved of its responsibility. lie eX-
pected however that Mr.. Buchanan
would become a director in. the Pas
sumpsic company and continue to ex
ercise an active interest in the tele-
phone service of the field covered by
the Peoples company. The president 5
statement was followed by numerous
injuries by the stockholders regarding
the proposed sale and the debate was
continued until dinner time, when an
adjournment was made. AfterWard,
upon the reassembling of the m Getting,
the formal resolution authoriz ng the
directors OF the company to conduct
and conclude the proposed sale was
read by Daniel Buchanan.
In substance, the resolution provid-
ed that the directors of the company
be authorized to carry out the terms
and conditions relating to the sale C1
the property of the Vermont Peoples
Telephone company to the PasSumpsiC
Telephone company for the sum OF
$4,000, that 5000 be paid in cash
and $50, 900 in the preferred stock Of
the Passumpsic Telephone company
the latter to be accompanied by al
agreement on the part of the New
England Telegraph and Telephone
company to purchase the same at par
if the holders shall desire to sell, a
any time within SIX months after tn
expiration of five years from Januar!
!, 1911, together with accumulated div
idends, if any, remaining unpaid. Tn
Vermont Peoples company is also to b.
compensated for about $4,000 eXpend
ed on the plant since the negotiation
were begun and have all outstandin,
bills.
a certified copy of the proceeding
of a meeting of the stockholders o
the Passumpsic Telephone company
recently held at St. Johnsbury, au
thorizing it's directors to make the pul
chase as above was presented.
A vote on the resolution above re
ferred to was then taken, and con
E mittee consisting of E. G. Stevens G
Orleans and L. l.. Wiley of Derby RI
ported the holders of 1878 shares vo
ing in the affirmative and none in tn
negative. #t #
1t is expected that the transfer {
the property will be made about JAM
airy l, 1911.
The business of the Vermont People
Telephone company was establishe
by Daniel Buchanan of Orleans
1898 and conducted by him Individual
until 1902. The present corporate
was then organized and took owe
the business. The territory serve
%, by the company is principally in. o
ans county, with the exception of A
bany, and Craftsbury. The cor
pany has about 1900 miles of lin
with about 5000 feet Of undergroui
connection in the Main street of Ne
port. Between 1900 and 1900 subscri
ers are connected with the company
service. The officers of the corpor
ton are, President, Col. G. S. Eme
of Newport; manager, H. l.. Moor
Newport: secretary and treasurer.
B. Buchanan, Orleans: directors t
above with Z. F. Spalding, Newpc
and d. Buchanan, Orleans.