The Barre daily times. (Barre, Vt.) 1897-1959, 1913-10-23
Stockholders of the Railroad
System Engaged in Pro-
tracted Discussion
ELLIOTT RESIGNS
THE PRESIDENCY
But Accepts Craftsmanship
of the Board of
Directors

/ %NtW maven, oct. %o'T cPPoSi'ioh -
commencing the board of directors fol
its acts was the chief cause of the
protracted annual meeting yesterday OF
the stockholders of the New York, New
Haven & Hartford railroad.
| After two hours debate it was voted
| to strike out the first item of business
which read, "To approve the acts and
Recommendation of the board of di-
reetors."
In accordance with change in the
bylaws Howard Elliott resigned as
president of the New Haven road and
became chairman of the board of di-
rectors, while Vice President, j. II.
Huestis was elected president of the
road.
G. H. Venner of New York offered a
resolution to instruct the directors to
take no steps toward issuing and deliy-
ering S67 10000 in debenture bonds until
the supreme court of Massachusetts, had
passed upon their legality. After much
discussion the resolution was ordered
tabled and spread on the records.
Surprise at the Start.
Venner threw bomb into the meet
ing shortly after it was called to order
by President Elliott by asking that the
minutes OF the directors and executive
committee be read so that the stock
holders present would have knowledge
as to which way to vote in approving or
disappearing the annual report. Yenner
in putting forth his claim stated that
the history of the New Haven company
justified the endeavors of stockholders
to secure whatever information they
could regarding its inner workings.
There has been too much silence, he
said, on the part of stockholders to APP
prove the acts of directors unless they
know what those acts areY Such bland
would hereafter prevent stock
holders from acting, should fraud be
later discovered, although said Mr..
Venner, Il cast no insinuation upon the
management"
At the request of President Elliott
Mr.. Venner put his motion in writing.
In reply TO a question by former Gov
ernor Morgan G. Buckley Mr.. Elliott
said he did not intend to confne the bus
mess of the meeting to the exact letter
of the call, but would permit a discus
sion OF the annual statement. A resolu
ton was offered by ID. A. Blakeslee of
New Haven to approve the annual re-
port and the acts of the directors. 1t
was not put at the time, however, as
Mr.. Nenner's motion had been seconded
from all parts Of the hall. Mr.. Venner
asked for a viva voce vote, which Ell
lott said he would not order, as this
was a stockholders meeting. He said it
would take two days to read the details
Of the company's affairs, as asked by Mr.
Venner. The officer of the company, he
added, wanted free discussion of the
affairs, and he himself was
ready to answer any questions.
Mr.. Nenner insisted that section OF |
the call, which provided for approval of |
The acts of the directors, should also |
have provided for disapproval, If needed. |
He did not charge the presiding officer
with any improper motive, he said, but |
he time had come when the rights of |
.he stockholders should be recognized |
ind not thrown under foot by5gag rule |
we know the company employs
lstute lawyers" said Mr.. Nenner, "who |
an clothe call in language which viii /
ieceive, and | believe that they have
lone so with that section 8"
Director T. Dewitt ,Cuyler interrupted |
With a uestion as to whether or not Mr.. |
fenner was q stakeholder. The latter
eplied he was, and Mr. Cuyler rejoined /
hat il did not appear on the list.
"Then the list is fraudulent" ex- 4
laimed Mr.. Venner. If there is any |
hing the matter with the list We
hould know it,
President Elliott said that messen-
ler had been sent TO the company's Of
ices for the list, and an exchange be-
ween Mr.. Venner and Mr.. Elliott oc-
urred. Another attempt was made by
DIR. Blakeslee to get his resolution for
pproval of the acts of the directors be-
ore the meeting but without success.